35673989 2024-07-01 2025-06-30 35673989 2024-07-01 2025-06-30 2 35673989 2024-07-01 2025-06-30 1 35673989 2024-07-01 2025-06-30 1 35673989 2024-07-01 2025-06-30 2 35673989 2024-07-01 2025-06-30 3 35673989 2024-07-01 2025-06-30 1 35673989 2024-07-01 2025-06-30 2 35673989 2024-07-01 2025-06-30 3 35673989 2024-07-01 2025-06-30 4 35673989 2024-07-01 2025-06-30 5 35673989 2023-07-01 2024-06-30 35673989 2025-06-30 35673989 2024-06-30 35673989 2024-07-01 2025-06-30 c:ReserveForDevelopmentExpenditureMember 35673989 2024-07-01 2025-06-30 c:RetainedEarningsMember 35673989 2025-06-30 c:ContributedCapitalMember 35673989 2025-06-30 c:ReserveForDevelopmentExpenditureMember 35673989 2025-06-30 c:RetainedEarningsMember 35673989 2024-07-01 c:CompletedDevelopmentProjectsMember 35673989 2024-07-01 c:AcquiredIntangibleAssetsMember 35673989 2024-07-01 c:DevelopmentProjectsInProgressMember 35673989 2024-07-01 2025-06-30 c:CompletedDevelopmentProjectsMember 35673989 2024-07-01 2025-06-30 c:DevelopmentProjectsInProgressMember 35673989 2025-06-30 c:CompletedDevelopmentProjectsMember 35673989 2025-06-30 c:AcquiredIntangibleAssetsMember 35673989 2025-06-30 c:DevelopmentProjectsInProgressMember 35673989 2024-07-01 2025-06-30 c:AcquiredIntangibleAssetsMember 35673989 2024-07-01 c:FixturesFittingsToolsAndEquipmentMember 35673989 2024-07-01 2025-06-30 c:FixturesFittingsToolsAndEquipmentMember 35673989 2025-06-30 c:FixturesFittingsToolsAndEquipmentMember 35673989 2024-07-01 c:InvestmentsInGroupEnterprisesMember 35673989 2025-06-30 c:InvestmentsInGroupEnterprisesMember 35673989 2024-07-01 2025-06-30 c:SubsidiaryMember 1 35673989 2025-06-30 c:SubsidiaryMember 1 35673989 2024-07-01 2025-06-30 c:SubsidiaryMember 2 35673989 2025-06-30 c:SubsidiaryMember 2 35673989 2024-07-01 c:DepositsLongtermInvestmentsAndReceivablesMember 35673989 2025-06-30 c:DepositsLongtermInvestmentsAndReceivablesMember 35673989 2025-06-30 c:LongtermDebtToOtherCreditInstitutionsMember 35673989 2024-06-30 c:LongtermDebtToOtherCreditInstitutionsMember 35673989 2025-06-30 c:OtherPayablesIncludingTaxPayablesLiabilitiesOtherThanProvisionsLongtermMember 35673989 2024-06-30 c:LongtermBillsOfExchangePayableMember 35673989 2025-06-30 c:LongtermDeferredIncomeMember 35673989 2024-06-30 c:LongtermDeferredIncomeMember iso4217:DKK xbrli:pure Årsrapport Søborg Regnskabsklasse B Cliin Robotics ApS Revisionspåtegning Beierholm Langagervej 1 Beierholm Brian Jørgensen Beierholm 9220 Aalborg Ø 2025-12-22 Opinion Basis for Opinion 2025-12-22 Danmark Knud Højgaards Vej 2025-06-30 2023-07-01 2024-06-30 2024-07-01 35673989 Rosenkæret 14 2860 Danmark Søborg Gladsaxe 32895468 Søborg Knud Højgaards Vej 9 2860 32895468 9 2860 true We have on this day presented the annual report for the financial year 01.07.24 - 30.06.25 for Cliin Robotics ApS. The annual report is presented in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the company's assets, liabilities and financial position as at 30.06.25 and of the results of the company's activities for the financial year 01.07.24 - 30.06.25. The annual report is submitted for adoption by the general meeting. Thomas Jørgensen Bo Møller Hansen Nikolaj Hans Bramsen Kloster Per Lange Chairman Kjeld Anker Pedersen Klaus Eldrup-Jørgensen Thomas Jørgensen Teis Palle Hansen To the shareholder of Cliin Robotics ApS In our opinion the financial statements give a true and fair view of the company's financial position at 30.06.25 and of the results of the company's operations for the financial year 01.07.24 - 30.06.25 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and the 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 our report. We are independent of the company 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. Management 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. Our 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 judgment 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 company'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 company'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 company to cease to continue as a going concern.Evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.Plan and perform the audit of the financial statements to obtain sufficient appropriate audit evidence regarding the consolidated financial information of the entities or business units as a basis for expressing an opinion on the financial statements. We are responsible for the direction, supervision and review of the audit work performed. We remain solely responsible for our audit opinion.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. Soeborg, Copenhagen Torben Skov Morten Staghøj State Authorised Public Accountant mne19689 State Authorised Public Accountant mne47303 9964071 5991665 9650439 8462431 3006542 1769252 0 1500000 -2692910 -5740018 68873 166393 0 724437 1009409 597918 -3633446 -6895980 -418925 -489126 -3214521 -6406854 -3214521 -6406854 17122869 8250656 805703 955031 0 11011344 17928572 20217031 2185524 1292613 2185524 1292613 125418 125418 125418 125418 20239514 21635062 9859300 8795189 678552 233155 10537852 9028344 1082567 2034842 908051 489126 2382908 1108794 229005 70965 4602531 3703727 2229375 3712422 17369758 16444493 37609272 38079555 116935 116935 8554984 15024360 -950167 -4205022 7721752 10936273 1557304 3423986 13328863 1403120 8430046 8147090 23316213 12974196 3212494 5283789 0 6302924 2300829 1996510 1057984 585863 6571307 14169086 29887520 27143282 37609272 38079555 Figures in DKKContributed capitalReserve for development costsRetained earningsTotal equityStatement of changes in equity for 01.07.24 - 30.06.25Balance as at 01.07.24116,93515,024,360-4,205,02210,936,273Total depreciation, amortisation, impairment losses and write-downs during the year0-1,369,8220-1,369,822Transfers to/from other reserves0-5,099,5546,469,3761,369,822Net profit/loss for the year00-3,214,521-3,214,521Balance as at 30.06.25116,9358,554,984-950,1677,721,752 -5099554 6469376 -3214521 116935 8554984 -950167 1.Information as regards going concernManagement has obtained letters of support totalling tDKK 5,000 from shareholders, which are intended to ensure that the Company has sufficient liquidity to continue its operations during the financial year 2025/26, should sales not develop as expected. The letters of support are valid until the end of the financial year 2025/26. Based on this, management concludes that no material uncertainty related to going concern exists for the financial year 2025/26. 2.Special itemsSpecial items are income and expenses that are special due to their size and nature. The following special items were recorded in the financial year:Special items:Recognised in the income statement in:2024/25 DKK2023/24 DKKRecognized grants for development costsOther operating income (Gross result)3,519,7048,033,517SettlementOther operating expenses0-1,500,000Total3,519,7046,533,517Grants for development costsDuring the financial year, the recognized grants have continued to align with the depreciation of development costs, cf. last year’s annual report. In addition, one external project has been funded through a separate grant. This grant has been recognized in the gross result based on the stage of completion of the project. 3.Primary activitiesThe company specializes in designing, producing, and globally distributing adaptable robotic platforms that can be integrated with a wide range of tools and applications — including cleaning equipment — for use across multiple industries. 8559350 7688398 718233 479625 125750 121297 247106 173111 13 13 Amortisation of intangible assets2,352,8541,575,260Depreciation of property, plant and equipment653,688193,992Total3,006,5421,769,252 2352854 1575260 653688 193992 14260690 1493237 11011344 64396 11011344 -11011344 25336430 1493237 0 -6010034 -538207 0 -2203527 -149327 -8213561 -687534 0 17122869 805703 0 Completed development projects Cargo Hold and Hull performance include capitalized labor costs and external purchases used to develop the company's products including development projects, patenting and prototype development. 8.Property, plant and equipmentFigures in DKKOther fixtures and fittings, tools and equipmentCost as at 01.07.242,346,056Additions during the year2,729,833Disposals during the year-1,507,711Cost as at 30.06.253,568,178Depreciation and impairment losses as at 01.07.24-1,053,443Depreciation during the year-653,689Reversal of depreciation of and impairment losses on disposed assets324,478Depreciation and impairment losses as at 30.06.25-1,382,654Carrying amount as at 30.06.252,185,524 2346056 2729833 -1507711 3568178 -1053443 -653689 324478 -1382654 2185524 9.Equity investments in group enterprisesFigures in DKKEquity investments in group enterprisesCost as at 01.07.241Cost as at 30.06.251Depreciation and impairment losses as at 01.07.24-1Depreciation and impairment losses as at 30.06.25-1Carrying amount as at 30.06.250Name and registered office:Ownership interestSubsidiaries:Cliin Pte. Ltd., Singapore100%Cliin Robotics Americas Inc., USA100% 1 1 -1 -1 0 Cliin Pte. Ltd. Singapore 100 Cliin Robotics Americas Inc. USA 100 125418 125418 125418 -2200000 0 3757304 5579040 -176933 13505796 1403120 -835561 0 9265607 11275825 12.Contingent assetsThe company has a deferred tax asset of t.DKK 1,353, which has not been recognised in the balance sheet. The tax asset can be attributed to tax losses carried forward which are not expected to be utilised within the next 3-5 years. The tax asset can be carried forward indefinitely. 13.Other commitmentsLease commitmentsThe company has concluded lease agreements with terms to maturity of 1-6 months with an avarage monthly payment of t.DKK 12 and total lease payments of t.DKK 205. 14.Charges and securityAs security for debt to credit institutions of t.DKK 3,848, a company charge has been provided comprising:- Intellectual property rights, t.DKK 17,929- Fixtures and fittings, t.DKK 2,186- Inventories, t.DKK 9,859- Trade receivables, t.DKK 2,511The total carrying amount of the comprised assets is t.DKK 32,485 The annual report is presented in accordance with the provisions of the Danish Financial Statements Act (Årsregnskabsloven) for enterprises in reporting class B with application of provisions for a higher reporting class. In accordance with section 110 of the Danish Financial Statements Act, the company has not prepared consolidated financial statements. Basis of recognition and measurementIncome is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including depreciation, amortisation, impairment losses and write-downs, are also recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company, and the value of such assets can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company, and the value of such liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below.On recognition and measurement, account is taken of foreseeable losses and risks arising before the date at which the annual report is presented and proving or disproving matters arising on or before the balance sheet date. CURRENCYThe annual report is presented in Danish kroner (DKK).On initial recognition, transactions denominated in foreign currencies are translated using the exchange rates applicable at the transaction date. Exchange rate differences between the exchange rate applicable at the transaction date and the exchange rate at the date of payment are recognised in the income statement as a financial item. Receivables, payables and other monetary items denominated in foreign currencies are translated using the exchange rates applicable at the balance sheet date. The difference between the exchange rate applicable at the balance sheet date and at the date at which the receivable or payable arose or was recognised in the latest annual report is recognised under financial income or expenses in the income statement. Fixed assets, inventories and other non-monetary assets acquired in foreign currencies are translated using historical exchange rates. LEASESLease payments relating to operating leases are recognised in the income statement on a straight-line basis over the lease term. GRANTSGrants are recognised when there is reasonable certainty that the grant conditions have been met and that the grant will be received.Grants received for the production or construction of assets are recognised as deferred income under payables. For depreciable and amortisable assets, the grant is recognised as the asset is depreciated or amortised. Gross profitGross profit comprises revenue, work performed for own account and capitalised, other operating income and cost of sales and other external expenses. RevenueIncome from the sale of goods is recognised in the income statement if delivery has taken place and the risk has passed to the buyer before the end of the financial year and where the selling price can be determined reliably and is expected to be paid. Revenue is measured at fair value and is determined exclusive of VAT and other taxes collected on behalf of third parties and less discounts.Income from the sale of services is recognised in the income statement as delivery takes place (delivery method). Revenue is measured at the selling value of the agreed consideration exclusive of VAT and other taxes collected on behalf of third parties and less discounts. Work performed for own account and capitalisedWork performed for own account and capitalised comprises cost of sales, wages and salaries and other internal expenses incurred during the year and included in the cost of self-constructed or self-produced intangible assets and property, plant and equipment. Other operating incomeOther operating income comprises income of a secondary nature in relation to the enterprise’s activities, including rental income, negative goodwill and gains on the sale of intangible assets and property, plant and equipment. Cost of salesCost of sales comprises cost of sales for the year measured at cost plus any changes in inventories, including write-downs to the extent that these do not exceed normal write-downs. Other external expensesOther external expenses comprise costs relating to distribution, sales and advertising and administration, premises and bad debts to the extent that these do not exceed normal write-downs. Staff costsStaff costs comprise wages and salaries as well as other staff-related costs. Depreciation, amortisation and impairment lossesThe depreciation and amortisation of intangible assets and property, plant and equipment aim at systematic depreciation and amortisation over the expected useful lives of the assets. Assets are depreciated and amortised according to the straight-line method based on the following expected useful lives and residual values:The basis of depreciation and amortisation is the cost of the asset less the expected residual value at the end of the useful life. Moreover, the basis of depreciation and amortisation is reduced by any impairment losses. The useful life and residual value are determined when the asset is ready for use and reassessed annually.Intangible assets and property, plant and equipment are impaired in accordance with the accounting policies referred to in the ‘Impairment losses on fixed assets’ section. Other operating expensesOther operating expenses comprise costs of a secondary nature in relation to the enterprise’s activities, including costs relating to rental activities and losses on the sale of intangible assets and property, plant and equipment. Impairment losses on financial assetsImpairment losses on financial assets comprise impairment of investments at a lower recoverable amount and write-downs of financial current assets at a lower net realisable value. Other net financialsInterest income and interest expenses, foreign exchange gains and losses on transactions denominated in foreign currencies etc. are recognised in other net financials. Tax on profit/loss for the yearThe current and deferred tax for the year is recognised in the income statement as tax on the profit/loss for the year with the portion attributable to the profit/loss for the year, and directly in equity with the portion attributable to amounts recognised directly in equity. Intangible assetsCompleted development projects and development projects in progressDevelopment projects are recognised in the balance sheet where the project aims at developing a specific product or a specific process, intended to be produced or used, respectively, by the company in its production process. On initial recognition, development projects are measured at cost. Cost comprises the purchase price plus expenses resulting directly from the purchase, including wages and salaries directly attributable to the development projects until the asset is ready for use. Interest on loans arranged to finance development projects in the development period is not included in the cost. Other development projects and development costs are recognised in the income statement in the year in which they are incurred.Development projects in progress are transferred to completed development projects when the asset is ready for use. Development projects are subsequently measured in the balance sheet at cost less accumulated amortisation and impairment losses.Completed development projects are amortised using the straight-line method based on useful lives, which are stated in the ‘Depreciation, amortisation and impairment losses’ section.Acquired rightsAquired rights are measured in the balance sheet at cost less accumulated amortisation and impairment losses.Acquired rights are amortised using the straight-line method based on useful lives, which are stated in the ‘Depreciation, amortisation and impairment losses’ section.Gains or losses on the disposal of intangible assetsGains or losses on the disposal of intangible assets are determined as the difference between the selling price, if any, less selling costs and the carrying amount at the date of disposal. Property, plant and equipmentProperty, plant and equipment comprise other fixtures and fittings, tools and equipment.Property, plant and equipment are measured in the balance sheet at cost less accumulated depreciation and impairment losses. Cost comprises the purchase price and expenses resulting directly from the purchase until the asset is ready for use. Interest on loans arranged to finance production is not included in the cost.Property, plant and equipment are depreciated using the straight-line method based on useful lives and residual values, which are stated in the ‘Depreciation, amortisation and impairment losses' section.Gains and losses on the disposal of property, plant and equipment are determined as the difference between the selling price, if any, less selling costs and the carrying amount at the date of disposal less any costs of disposal. Equity investments in group entreprisesEquity investments in subsidiaries are recognised and measured according to the equity method. For equity investments in subsidiaries, the equity method is considered a measurement method.On initial recognition, equity investments measured according to the equity method are measured at cost. Transaction costs directly attributable to the acquisition are recognised in the cost of equity investments. Under subsequent recognition and measurement of equity investments according to the equity method, equity investments are measured at the proportionate share of the enterprises' equity value, determined according to the accounting policies of the parent, adjusted for the remaining value of goodwill and gains and losses on transactions with the enterprises in question. Equity investments, where information for recognition according to the equity method is not known, are measured at cost.Equity investments with a negative carrying amount are measured at DKK 0. Receivables that are considered part of the combined investment in the enterprises in question are impaired by any remaining negative equity value. Other receivables from such enterprises are impaired to the extent that such receivables are considered uncollectible. Provisions to cover the remaining negative equity value are recognised to the extent that the company has a legal or constructive obligation to cover the liabilities of the enterprise in question.Gains or losses on disposal of equity investments are determined as the difference between the disposal consideration and the carrying amount of net assets at the time of sale, including non-amortised goodwill, as well as the expected costs of divestment or discontinuation. Gains and losses are recognised in the income statement under income from equity investments. Impairment losses on fixed assetsThe carrying amount of fixed assets which are not measured at fair value is assessed annually for indications of impairment over and above what is reflected in depreciation and amortisation.If the company's realised return on an asset or a group of assets is lower than expected, this is considered an indication of impairment.If there are indications of impairment, an impairment test is conducted of individual assets or groups of assets.The assets or groups of assets are impaired to the lower of recoverable amount and carrying amount.The higher of net selling price and value in use is used as the recoverable amount. The value in use is determined as the present value of expected net cash flows from the use of the asset or group of assets as well as expected net cash flows from the sale of the asset or group of assets after the expiry of their useful lives.Impairment losses are reversed when the reasons for the impairment no longer exist. InventoriesInventories are measured at cost calculated according to the FIFO-method. Inventories are written down to the lower of cost and net realisable value.The cost of raw materials and consumables as well as goods for resale is determined as purchase prices plus expenses resulting directly from the purchase.The net realisable value of inventories is determined as the selling price less costs of completion and costs necessary to make the sale and is determined taking into account marketability, obsolescence and the expected development in the selling price. ReceivablesReceivables are measured at amortised cost, which usually corresponds to the nominal value, less write-downs for bad debts.Write-downs for bad debts are determined based on an individual assessment of each receivable if there is no objective evidence of individual impairment of a receivable.Deposits recognised under assets comprise deposits paid to the lessor under leases entered into by the company. PrepaymentsPrepayments recognised under assets comprise costs incurred in respect of subsequent financial years. CashCash includes deposits in bank accounts as well as operating cash. EquityThe net revaluation of equity investments measured according to the equity method is recognized in the net revaluation reserve in equity according to the equity method to the extent that the carrying amount exceeds the cost.An amount equivalent to internally generated development costs in the balance sheet is recognised in equity under reserve for development costs. The reserve is measured less deferred tax and reduced by amortisation and impairment losses on the asset. If impairment losses on development costs are subsequently reversed, the reserve will be restored with a corresponding amount. The reserve is dissolved when the development costs are no longer recognized in the balance sheet, and the remaining amount will be transferred to retained earnings. Current and deferred taxCurrent tax payable and receivable is recognised in the balance sheet as tax computed on the basis of the taxable income for the year, adjusted for tax paid on account.Deferred tax liabilities and tax assets are recognised on the basis of all temporary differences between the carrying amounts and tax bases of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is non-amortisable for tax purposes and other items where temporary differences, except for acquisitions, have arisen at the date of acquisition without affecting the net profit or loss for the year or the taxable income. In cases where the tax value can be determined according to different taxation rules, deferred tax is measured on the basis of management’s intended use of the asset or settlement of the liability.Deferred tax assets are recognised, following an assessment, at the expected realisable value through offsetting against deferred tax liabilities or elimination in tax on future earnings.Deferred tax is measured on the basis of the tax rules and at the tax rates which, according to the legislation in force at the balance sheet date, will be applicable when the deferred tax is expected to crystallise as current tax. PayablesLong-term payables are measured at cost at the time of contracting such liabilities (raising of the loan). The payables are subsequently measured at amortised cost where capital losses and loan expenses are recognised in the income statement as a financial expense over the term of the payable on the basis of the calculated effective interest rate in force at the time of contracting the liability.Short-term financial payables are measured at amortised cost, normally corresponding to the nominal value of such payables. Other short-term payables are measured at net realisable value. Prepayments received from customersPrepayments received from customers comprise amounts received from customers prior to the time and date of delivery of the agreed product or completion of the agreed service. Deferred incomeDeferred income under liabilities comprises payments received in respect of income in subsequent financial years.