383390872024-01-012024-12-31383390872024-01-012024-12-311383390872024-01-012024-12-312383390872024-01-012024-12-313383390872024-01-012024-12-311383390872024-12-31383390872023-12-31fsa:ContributedCapitalMember383390872023-12-31fsa:RetainedEarningsMember383390872023-12-31383390872024-01-012024-12-31fsa:ContributedCapitalMember383390872024-01-012024-12-31fsa:RetainedEarningsMember383390872024-12-31fsa:ContributedCapitalMember383390872024-12-31fsa:RetainedEarningsMember383390872023-01-012023-12-31iso4217:DKKxbrli:pureThe Executive Board has today considered and approved the annual report of Born Denmark ApS for the financial year 01.01.2024 - 31.12.2024. 129024553258355The annual report is presented in accordance with the Danish Financial Statements Act.1757352910967557In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024.9973192400215We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.1072950We recommend the annual report for adoption at the Annual General Meeting.-14751561-8109417Aarhus323966104John Paul Stubbington269591992Piotr Tomasz Lach1304138140285Marlene Wincent Stensballe Vium172597111257To the shareholders of Born Denmark ApS-16168941-8352863We have audited the financial statements of Born Denmark ApS for the financial year 01.01.2024 - 31.12.2024, which comprise the income statement, balance sheet, statement of changes in equity and ​notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. ​ ​In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024 in accordance with the Danish Financial Statements Act.5353350-1827736We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor’s responsibilities for the audit of the financial statements" section of this auditor’s report. We are independent of the Entity in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.-21522291-6525127Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Management is responsible for assessing the Entity’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.-21522291-6525127Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are ​free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes ​our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted ​in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material ​misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, ​individually or in the aggregate, they could reasonably be expected to influence the economic decisions of ​users taken on the basis of these financial statements.​​As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, ​we exercise professional judgement and maintain professional scepticism throughout the audit. We also:Identify and assess the risks of material misstatement of the financial statements, whether due to ​fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence ​that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a ​material misstatement resulting from fraud is higher than for one resulting from error, as fraud may ​involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.​Obtain an understanding of internal control relevant to the audit in order to design audit procedures ​that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the ​effectiveness of the Entity’s internal control.​Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates ​and related disclosures made by Management. ​Conclude on the appropriateness of Management’s use of the going concern basis of accounting in ​preparing the financial statements, and, based on the audit evidence obtained, whether a material ​uncertainty exists related to events or conditions that may cast significant doubt on the Entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to ​draw attention in our auditor’s report to the related disclosures in the financial statements or, if such ​disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence ​obtained up to the date of our auditor’s report. However, future events or conditions may cause the ​Entity to cease to continue as a going concern.​Evaluate the overall presentation, structure and content of the financial statements, including the disclosures ​in the notes, and whether the financial statements represent the underlying transactions and ​events in a manner that gives a true and fair view.We communicate with those charged with governance regarding, among other matters, the planned scope ​and timing of the audit and significant audit findings, including any significant deficiencies in internal control ​that we identify during our audit.15423111570640Management is responsible for the management commentary. Our opinion on the financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the management commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the management commentary provides the information required by relevant law and regulations.Based on the work we have performed, we conclude that the management commentary is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the management commentary. 826583010842006121570640Silkeborg1501975595773Rasmus Volert Madsen1036293613652mne4582225382681209425State Authorised Public Accountant589904521006Primary activitiesThe Company’s primary activity consists of operation and development of an enterprise with health services/health care as well as production thereof and related business.589904521006Uncertainty relating to recognition and measurementThe annual report includes goodwill which after this years depreciation has a book value of DKK 82.7m. The valuation is based on future expectations of increased earnings due to a turn around for the company initiated in 2022, including new management, new focus on products as well as increased differentiation in customers. There are uncertanty regarding this valuation, cf. mentions in note 4. During the year, Born Denmark ApS, Born Aalborg ApS, Born Denmark Holding ApS, and Medicover Danmark ApS have been merged into a single company, continuing as Born Denmark ApS. The merger was effective as of 01.01.2024. The comparison year is therefore not comparable to this year. We refer to accounting policies for further information.873287843301071Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.149748204174894This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year.149748204174894Non-comparabilityDuring the year, Born Denmark ApS, Born Aalborg ApS, Born Denmark Holding ApS, and Medicover Danmark ApS have been merged into a single company, continuing only as Born Denmark ApS. The merger was effective as of 01.01.2024. The comparison year is therefore not comparable to this year.14234741141195Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.926940296790Business combinationsIn the acquisition of companies, mergers, demergers, contribution of assets, and share exchanges, etc., where the participating companies are under the control of the parent company, the book-value method is applied. Under the book-value method, the acquired company's assets and liabilities are recognised at their accounting values, adjusted for any differences in applied accounting policies. The difference between the agreed consideration and the acquired company's accounting value is recognised in equity. Comparative figures are not adjusted. 03004172Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses. 198475100Gross profit or lossGross profit or loss comprises revenue, changes in inventories of finished goods and work in progress, own work capitalised, other operating income, cost of raw materials and consumables and external expenses.0230241RevenueRevenue from the sale of manufactured goods and goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.350151299929Own work capitalisedOwn work capitalised comprises staff costs and other costs incurred in the financial year and recognised in cost for inventories.28990404972427Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities.159644113236Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for normal inventory writedowns.180335049260557Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets.10536228812561628Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff.6000050000Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and losses from the sale of intangible assets and property, plant and equipment.67729030-5276288Other operating expensesOther operating expenses comprise expenses of a secondary nature as viewed in relation to the Entity’s primary activities, including loss from the sale of property, plant and equipment.67789030-5226288Other financial income from group enterprisesOther financial income from group enterprises comprises interest income etc. on receivables from group enterprises.Other financial incomeOther financial income comprises , interest income, including interest income on receivables from group enterprises, net capital or exchange gains on securities, payables and transactions in foreign currencies, amortisation of financial assets, and tax relief under the Danish Tax Prepayment Scheme etc.1446442109708014464421097080Financial expenses from group enterprisesFinancial expenses from group enterprises comprise interest expenses etc. from payables to group enterprises.Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, net capital or exchange losses on securities, payables and transactions in foreign currencies, amortisation of financial liabilities, and tax surcharge under the Danish Tax Prepayment Scheme etc.29536032276213329321448608Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.The Entity is jointly taxed with all Danish group enterprises. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses).3363822913564275GoodwillGoodwill is calculated as the difference between cost of investments and fair value of the pro rata share of assets and liabilities acquired. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by Management for each business area. For one amount of goodwill, it has not been possible to estimate useful life reliably, for which reason such useful life has been set at 10 years. Useful lives are reassessed annually. Goodwill is written down to the lower of recoverable amount and carrying amount.Intellectual property rights etc.Intellectual property rights etc comprise development projects completed and in progress with related intellectual property rights, acquired intellectual property rights and prepayments for intangible assets.Intellectual property rights acquired are measured at cost less accumulated amortisation. Patents are amortised on a straight-line basis over their remaining duration, and licences are amortised over the term of the agreement.​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.15183907084561355191Property, plant and equipmentOther fixtures and fittings, tools and equipment and leasehold improvements are measured at cost less accumulated depreciation and impairment losses. ​​Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation.​​The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:Useful life Other fixtures and fittings, tools and equipment2-10 yearsLeasehold improvements3-10 yearsFor leasehold improvements and assets subject to finance leases, the depreciation period cannot exceed ​the contract period. ​​Estimated useful lives and residual values are reassessed annually. ​​Items of property, plant and equipment are written down to the lower of recoverable amount and carrying ​amount.36126816166908363612681616690836InventoriesInventories are measured at the lower of cost using the FIFO method and net realisable value. Cost consists of direct and indirect costs in the production. Cost of manufactured goods consists of costs of raw materials, consumables, direct labour costs and indirect production costs. Indirect production costs comprise indirect materials and labour costs, costs of maintenance of, depreciation of machinery, factory buildings and equipment used in the manufacturing process, and costs of factory administration and management. Finance costs are not included in cost. The net realisable value of inventories is calculated as the estimated selling price less completion costs and costs incurred to execute sale.10536228812561628ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.5000018Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. -5276288Joint taxation contributions receivable or payableCurrent joint taxation contributions payable or joint taxation contributions receivable are recognised in the balance sheet, calculated as tax computed on the taxable income for the year, which has been adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.10000CashCash comprises cash in hand and bank deposits.94527609Other provisionsOther provisions comprise anticipated costs of returns. ​​Other provisions are recognised and measured as the best estimate of the expenses required to settle the ​liabilities at the balance sheet date. Provisions that are estimated to mature more than one year after the ​balance sheet date are measured at their discounted value. ​​Once it is probable that total costs will exceed total income from a contract in progress, provision is made ​for the total loss estimated to result from the relevant contract.94537609-21522291Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Prepayments received from customersPrepayments received from customers comprise amounts received from customers prior to delivery of the goods agreed or completion of the service agreed.60000Ikke væsentlig usikkerhed vedr. fortsat drift67729030trueGrundlag for konklusion1 Uncertainty related to going concernThe company has received confirmation from the shareholder that they will support the company with the necessary liquidity, and they will not demand receivables to be settled until the company has the liquidity for it. Therefore, the company's financial situation is clarified, and the company can continue its positive development. Based on this, the annual report is prepared on a going concern basis.Konklusion2 Uncertainty relating to recognition and measurement A significant part of the company's intangible assets consists of goodwill, which stems from the merger. As the value of the company is dependent on expected future financial performance, the value of goodwill is subject to uncertainty. As part of the goodwill valuation, a DCF model is employed using a 9% discount rate. This model assesses the present value of future cash flows generated to be positive from 2025 onwards. It is management's assessment that the turnaround during recent years is starting to pay off from 2025, which is why the last couple of years have generated losses.2025-06-273 Staff costs2024 DKK2023 DKKWages and salaries15,421,5389,706,511Pension costs1,872,0541,123,917Other social security costs279,937137,12917,573,52910,967,557Average number of full-time employees25182025-06-2725true4 Depreciation, amortisation and impairment losses2024 DKK2023 DKKAmortisation of intangible assets9,600,49298,058Depreciation of property, plant and equipment372,700302,1579,973,192400,215339635565 Intangible assetsAcquired intangible assets​DKKGoodwill​DKKCost beginning of year1,734,4780Additions through business combinations etc.091,842,556Additions387,9080Cost end of year2,122,38691,842,556Amortisation and impairment losses beginning of year(163,838)0Amortisation for the year(416,237)(9,184,255)Amortisation and impairment losses end of year(580,075)(9,184,255)Carrying amount end of year1,542,31182,658,3012023-01-016 Property, plant and equipmentOther fixtures and fittings, tools and equipment DKKLeasehold improvements DKKCost beginning of year1,762,202963,743Additions through business combinations etc.534,168228,487Additions842,409357,900Disposals(498,319)0Cost end of year2,640,4601,550,130Depreciation and impairment losses beginning of year(1,166,429)(350,091)Additions through business combinations etc.(113,042)(12,444)Impairment losses for the year(221,398)(151,302)Reversal regarding disposals362,3840Depreciation and impairment losses end of year(1,138,485)(513,837)Carrying amount end of year1,501,9751,036,2932023-12-317 Financial assetsDeposits DKKCost beginning of year521,006Additions through business combinations etc.228,534Additions14,372Disposals(174,008)Cost end of year589,904Carrying amount end of year589,90486008 Receivables from group enterprisesThe company is part of a group which uses a cash pool arrangement as part of its overall cash resources. The item "Receivables from group enterprises" includes a balance from the cash pool arrangement with Medicover-group amounting to DKK 927k.Silkeborg9 Payables to group enterprisesThe company is part of a group which uses a cash pool arrangement as part of its overall cash resources. The item "Payables to group enterprises" includes a balance from the cash pool arrangement with Medicover-group amounting to DKK 28,062k.2610 Unrecognised rental and lease commitments2024 DKK2023 DKKLiabilities under rental or lease agreements until maturity in total2,096,0001,467,000Papirfabrikken11 Contingent assetsThe company has a deferred tax asset of 6.919 t.DKK related primarily to tax losses, which has not been recognised due to the uncertainty regarding its utilisation within 3-5 years.Deloitte Statsautoriseret RevisionspartnerselskabAarhusAarhus C8000Regnskabsklasse BRevisionspåtegning2024-12-312024-01-0111RosensgadeBorn Denmark ApS38339087339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapport2025-06-27Marlene Wincent Vium