43234668 2024-01-01 2024-12-31 43234668 2024-01-01 2024-12-31 1 43234668 2023-01-01 2023-12-31 43234668 2024-12-31 43234668 2023-12-31 43234668 2024-01-01 2024-12-31 d:DevelopmentProjectsInProgressMember 43234668 2024-12-31 d:DevelopmentProjectsInProgressMember 43234668 2024-01-01 d:ContributedCapitalMember 43234668 2023-01-01 d:ContributedCapitalMember 43234668 2024-12-31 d:ContributedCapitalMember 43234668 2023-12-31 d:ContributedCapitalMember 43234668 2024-01-01 2024-12-31 d:ReserveForDevelopmentExpenditureMember 43234668 2023-01-01 2023-12-31 d:ReserveForDevelopmentExpenditureMember 43234668 2024-12-31 d:ReserveForDevelopmentExpenditureMember 43234668 2023-12-31 d:ReserveForDevelopmentExpenditureMember 43234668 2024-01-01 d:RetainedEarningsMember 43234668 2023-01-01 d:RetainedEarningsMember 43234668 2024-01-01 2024-12-31 d:RetainedEarningsMember 43234668 2023-01-01 2023-12-31 d:RetainedEarningsMember 43234668 2024-12-31 d:RetainedEarningsMember 43234668 2023-12-31 d:RetainedEarningsMember 43234668 2024-01-01 2024-12-31 1 iso4217:DKK xbrli:pure Årsrapport 34209936 Grant Thornton, Godkendt Revisionspartnerselskab Lautrupsgade, 11 2100, København Ø 2023-01-01 2023-12-31 2024-01-01 2024-12-31 43234668 EchoVice ApS Forskerparken 10 5230 Odense M 2022-05-03 Grant Thornton, Godkendt Revisionspartnerselskab 34209936 Morten Høgh-Petersen statsautoriseret revisor mne34283 Lautrupsgade 11 2100 København Ø Danmark +45 33 110 220 info@dk.gt.com 2025-06-25 Ajithan Christian Emmanuel Regnskabsklasse B Andre erklæringer uden sikkerhed CaseWare fra Revisorgruppen Danmark anpartshaverne København 2025-06-25 Odense M 2025-06-25 1439146 285687 746423 216715 692723 68972 834 155 9 115 693548 69012 136626 5541 556922 63471 -224630 63471 781552 0 1001989 0 1001989 0 1001989 0 85471 0 25249 25541 110720 25541 553061 90055 663781 115596 1665770 115596 0 42000 42000 781552 0 -178495 46134 645057 88134 220438 0 220438 0 750000 0 750000 0 14373 0 0 5541 35902 21921 50275 27462 800275 27462 1665770 115596 737404 214443 9019 2272 746423 216715 3 2 1001989 1001989 1001989 42000 42000 42000 42000 781552 0 781552 0 46135 -17337 -224630 63471 -178495 46134 Today, the Managing Director has approved the annual report of EchoVice ApS for the financial year 1 January - 31 December 2024. The annual report has been prepared in accordance with the Danish Financial Statements Act. I consider the chosen accounting policy to be appropriate, and in my opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2024 and of the results of the Company's operations for the financial year 1 January – 31 December 2024. The Managing Director consider the conditions for audit exemption of the 2024 financial statements to be met. Further, in my opinion, the Management's review gives a true and fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the Annual General Meeting. Ajithan Christian Emmanuel We have compiled the financial statements of EchoVice ApS for the financial year 1 January - 31 December 2024 based on the company's bookkeeping and on information you have provided. These financial statements comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity and notes. We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), Compilation Engagements. We have applied our expertise in accounting and financial reporting to assist Management in the preparation and presentation of these financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant requirements under the Danish Act on Approved Auditors and Audit Firms and International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) including principles of integrity, objectivity, professional competence and due care. These financial statements and the accuracy and completeness of the information used to compile them are your responsibility. Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with the Danish Financial Statements Act. Description of key activities of the companyThe company's purpose is the development and sale of health technology, as well as related activities. Significant changes in the company's activities and financial mattersThe gross profit for the year totals DKK 1.439 thousand against DKK 286 thousand last year. Income or loss from ordinary activities after tax totals DKK 557 thousand against DKK 63 thousand last year. Management considers the net profit or loss for the year satisfactory. Events occurring after the end of the financial yearNo events have occurred after the balance sheet date of material importance to the annual report for 2024 The annual report for EchoVice ApS has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class B enterprises. Furthermore, the company has decided to comply with certain rules applying to reporting class C enterprises. The accounting policies are unchanged from last year, and the annual report is presented in DKK. Gross profitGross profit comprises the revenue, own work capitalised, other operating income, and external costs. The enterprise will be applying IAS 11 and IAS 18 as its basis of interpretation for the recognition of revenue. Revenue is recognised in the income statement if delivery and passing of risk to the buyer have taken place before the end of the year and if the income can be determined reliably and inflow is anticipated. Revenue is measured at the fair value of the consideration promised exclusive of VAT and taxes and less any discounts relating directly to sales. Own work capitalisedOwn work capitalised includes staff cost and other internal costs incurred during the financial year and recognised in the cost of proprietary intangible and tangible fixed assets. Other external expenses comprise expenses incurred for sales, advertising, administration and premises. Staff costsStaff costs include salaries and wages, including holiday allowances, pensions, and other social security costs, etc., for staff members. Financial income and expensesFinancial income and expenses are recognised in the income statement with the amounts concerning the financial year. Financial income and expenses comprise interest income and expenses. Tax on net profit or loss for the yearTax for the year comprises the current income tax for the year and changes in deferred tax and is recognised in the income statement with the share attributable to the net profit or loss for the year and directly in equity with the share attributable to entries directly in equity.  Intangible assetsDevelopment projects, patents, and licencesDevelopment costs and internally generated rights are recognised in the income statement as costs in the acquisition year. Impairment loss relating to non-current assetsThe carrying amount of both intangible and tangible fixed assets are subject to annual impairment tests in order to disclose any indications of impairment beyond those expressed by amortisation and depreciation respectively. If indications of impairment are disclosed, impairment tests are carried out for each individual asset or group of assets, respectively. write-down for impairment is done to the recoverable amount if this value is lower than the carrying amount. The recoverable amount is the higher value of value in use and selling price less expected selling cost. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the asset group and expected net cash flows from the sale of the asset or the asset group after the end of their useful life. ReceivablesReceivables are measured at amortised cost, which usually corresponds to nominal value. In order to meet expected losses, impairment takes place at the net realisable value. The company has chosen to use IAS 39 as a basis for interpretation when recognising impairment of financial assets, which means that impairments must be made to offset losses where an objective indication is deemed to have occurred that an account receivable or a portfolio of accounts receivable is impaired. If an objective indication shows that an individual account receivable has been impaired, an impairment takes place at individual level. Accounts receivable for which there is no objective indication of impairment at the individual level are evaluated at portfolio level for objective indication of impairment. The portfolios are primarily based on the debtors' domicile and credit rating in accordance with the company's and the group's credit risk management policy. Determination of the objective indicators applied for portfolios are based on experience with historical losses. Impairment losses are calculated as the difference between the carrying amount of accounts receivable and the present value of the expected cash flows, including the realisable value of any securities received. The effective interest rate for the individual account receivable or portfolio is used as the discount rate. Cash and cash equivalentsCash and cash equivalents comprise cash at bank and on hand. EquityReserve for development costsThe reserve for development costs comprises recognised development costs less related deferred tax liabilities. The reserve cannot be used as dividends or for covering losses. The reserve is reduced or dissolved if the recognised development costs are amortised or abandoned. This is done by direct transfer to the distributable reserves of the equity. Income tax and deferred taxCurrent tax liabilities and current tax receivable are recognised in the statement of financial position as calculated tax on the taxable income for the year, adjusted for tax of previous years' taxable income and for tax paid on account. Deferred tax is measured on the basis of temporary differences in assets and liabilities with a focus on the statement of financial position. Deferred tax is measured at net realisable value. Deferred tax is measured based on the tax rules and tax rates applying under the legislation prevailing in the respective countries on the reporting date when the deferred tax is expected to be released as current tax. Changes in deferred tax due to changed tax rates are recognised in the income statement, except for items included directly in the equity. Deferred tax assets, including the tax value of tax losses allowed for carryforward, are recognised at the value at which they are expected to be realisable, either by settlement against tax of future earnings or by set-off in deferred tax liabilities within the same legal tax unit. Any deferred net tax assets are measured at net realisable value. Liabilities other than provisionsOther liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value. Convertible and profit sharing debt instrumentsConvertible bonds are issued at a fixed conversion price and is regarded as composite instruments comprising a financial liability measured at amortised cost and an equity instrument in the form of the integral conversion right. Fair value of the financial liability is determined on the date of issue by applying a market rate for a similar non-convertible debt instrument. The difference between the proceeds from issuing the convertible debt instrument and the fair value of the financial liability, corresponding to the integral option to convert the liability to shareholders’ equity, is recognised directly in the shareholders’ equity. The value of the financial liability is recognised as long-term debts and subsequently measured at amortised cost. When extending convertible bonds, a calculation is made at amortised cost relative to the extension. Any difference is recognised in the income statement.