36441941 2025-01-01 2025-12-31 36441941 2025-01-01 2025-12-31 1 36441941 2025-01-01 2025-12-31 1 36441941 2025-01-01 2025-12-31 2 36441941 2025-01-01 2025-12-31 1 36441941 2025-01-01 2025-12-31 2 36441941 2025-01-01 2025-12-31 3 36441941 2025-01-01 2025-12-31 4 36441941 2025-01-01 2025-12-31 5 36441941 2024-01-01 2024-12-31 36441941 2025-12-31 36441941 2024-12-31 36441941 2024-12-31 fsa:ContributedCapitalMember 36441941 2024-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 36441941 2024-12-31 fsa:RetainedEarningsMember 36441941 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 36441941 2025-01-01 2025-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 36441941 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 36441941 2025-01-01 2025-12-31 cmn:OtherRenderingOfReportedValueMember 36441941 2025-12-31 fsa:ContributedCapitalMember 36441941 2025-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 36441941 2025-12-31 fsa:RetainedEarningsMember 36441941 2025-12-31 cmn:OtherRenderingOfReportedValueMember iso4217:DKK xbrli:pure René Friis Andresen PHP SERVICE A/S Huginsvej 22 4100 Ringsted Sorø 36441941 Ndr. Ringgade 74 4200 Slagelse The Board of Directors and the Executive Board today considered and approved the annual report of PHP SERVICE A/S for the period 1. January 2025 - 31. December 2025. The annual report was prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the company’s financial position as at 31. December 2025, and of its financial performance for the financial year 1. January 2025 - 31. December 2025. In our opinion, the management's review gives a true and fair view of the matters dealt with in the review. We recommend that the annual report be adopted by the annual general meeting. Ringsted, Per Otto Winther Carsten Storm Skouboe Claus Mejlby Thomas Østergaard Jørgensen Per Otto Winther Chairman Carsten Storm Skouboe Sebastian Paul Brandenburg To the Shareholders of PHP SERVICE A/S Conclusion We have performed an extended review of the financial statements of PHP Service A/S for the financial year 1 January 2025 – 31 December 2025, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. The financial statements are prepared under the Danish Financial Statements Act. Based on the work performed, in our opinion, the financial statements give a true and fair view of the Company's financial position at 31. December 2024 and of the results of the Company's operations for the financial year 1 January 2025 – 31 December 2025 in accordance with the Danish Financial Statements Act. Basis for conclusion We conducted our extended review in accordance with the Danish Business Authority's Assurance Standard for Small Enterprises and FSR – Danish Auditors' standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act. Our responsibilities under those standards and require-ments are further described in the "Auditor's responsibilities for the extended review 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. Management's responsibilities for the financial statements Management is responsible for the preparation of financial statements that give a true and fair view in accord-ance with the Danish Financial Statements Act, and for such internal control as Management determines is nec-essary 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. Auditor's responsibilities for the extended review of the financial statements Our responsibility is to express a conclusion on the financial statements. This requires that we plan and perform procedures in order to obtain limited assurance for our conclusion on the financial statements and in addition perform specifically required supplementary procedures to obtain further assurance for our conclusion. An extended review comprises procedures that primarily consist of making inquiries of Management and others within the Company, as appropriate, analytical procedures and the specifically required supplementary proce-dures as well as evaluation of the evidence obtained. The procedures performed in an extended review are less than those performed in an audit, and accordingly, we do not express an audit opinion on the financial statements. Statement on the Management's review Management is responsible for the Management's review. Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon. In connection with our extended review of the financial statements, our responsibility is to read the Manage-ment's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the extended review, or otherwise appears to be mate-rially misstated. Moreover, it is our responsibility to consider whether Management's review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial State-ments Act. We did not identify any material misstatement of Management's review. Slagelse, Dansk Revision Slagelse Godkendt revisionsaktieselskab 29919801 Claus Dyrelund Johansen State authorized accountant mne51485 Principal activities As in previous years, the company's principal activities have been the sale and installation of waste systems in particular to public authorities and institutions as well as other activities related to this at the discretion of the management. Development in activities and financial affairs The result for the financial year amounts to a profit of 2.155 TDKK against a profit last year of 5.268 TDKK. Equity thereafter amounts to 22.720 TDKK. Events after the end of the financial year No events have occurred after the end of the financial year which would materially affect the company's condi-tions. 37678424 53195000 33855089 45607000 1356991 1189000 2466344 6399000 664485 568000 29648 115000 372392 435000 2788085 6648000 632772 1379000 2155313 5268000 664485 568000 1490828 4700000 395208 0 395208 0 242621 191000 3159597 3216000 3402218 3407000 2182998 1727000 556250 414000 2739248 2141000 6536675 5548000 7814694 4183000 4328710 0 12143404 4183000 10359712 10760000 3665000 2658000 783481 281000 30051 643000 2255845 1839000 2179507 2184000 19273596 18364000 248002 684000 31665003 23231000 38201677 28778000 400000 400000 1160488 1396000 21159468 18769000 22719957 20565000 2020281 1355000 2020281 1355000 363634 0 363634 0 100000 0 6121626 3866000 15229 0 2119917 1636000 4741034 1358000 13097806 6859000 13461440 6859000 38201677 28778000 400000 1396000 18769000 20565000 0 -900000 900000 0 0 664000 1491000 2155000 400000 1160000 21159000 22720000 Staff costs Wages and salaries 24.653.838 33.070 Pensions 3.198.359 3.864 Other social security cost 1.108.651 1.195 Other staff costs 4.894.240 7.478 Total staff costs 33.855.089 45.607 51 69 Financial costs Interest to subsidiaries 16.798 20 Other financial costs 355.594 415 Total financial costs 372.392 435 Work in progress Work in progress 29.046.497 9.434 Progress billings -25.381.497 -6.776 Total work in progress 3.665.000 2.658 Long term liabilities Long term liabilities due after 5 years is 0 TDKK. Contingent liabilities The company has the usual guarantee obligations for the industry. The company is jointly and severally liable with the subsidiary Beholderservice.NU ApS for Danish income taxes as well as withholding taxes on dividends, interest and royalties payable by the group of jointly taxed entities. Income taxes due and withholding taxes within the joint taxation area are disclosed in the annual report. Contractual obligations The company has leasing obligations for the following amounts: Remaining term of 9-60 months with a obligation of a total of 9.595 TDKK. In addition, the company has rent obligations with notices of termination of up to 42 months. The total obligations amount to 6.934 TDKK. Mortgages and collateral The company has issued a total of 5.000 TDKK in receivables as pledge of the company's book value of debtors per 31 December 2025 of 10.360 TDKK as collateral for balances with the bank company. The company has per 31 December 2025 positive balance on the operating account. The company has issued a total of 534 TDKK in mortgage deed, which provide mortgages on a vehicle, where the accounting value per 31 December 2025 is 534 TDKK. The remaining debt per 31 December 2025 is 464 TDKK. The bank company has provided a work guarantee of 500 TDKK to Roskilde Municipality. true Consolidated financial statements In accordance with section 110 of the Danish Financial Statement Act, consolidated financial statements were not prepared, as the group does not exceed the limits specified. General principles for recognition and measurement Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the company and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are meas-ured as described below for each individual item. Certain financial assets and liabilities are measured at amortised cost, implying the recognition of a constant effective interest rate to maturity. Amortised cost is determined as original cost less any repayments and with addition/deduction of the accumulated amortisation of the difference between cost and nominal amount. In recognition and measurement, foreseeable losses and risks are taken into consideration when arising before the annual report is prepared and proving or disproving matters existing on the balance sheet date. Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities measured at fair value or amortised cost. Also recognised are expenses incurred to generate the earn-ings for the year, including depreciation, amortisation, impairment losses and provisions, as well as reversals resulting from changes in accounting estimates of amounts previously recognised in the income statement. Foreign currency translation During the year, foreign currency transactions are translated at the exchange rates prevailing on the transaction date. Foreign currency receivables, payables and other items that have not been settled on the balance sheet date are translated at the exchanges rates prevailing on the balance sheet date. Realised and unrealised foreign currency translation adjustments are recognised in the income statement under net financials. Financial instruments are not used to hedge the value expressed in Danish currency of balance sheet items in foreign currencies and future foreign currency transactions. Income statement Revenue Revenue from the sale of goods for resale and finished good is recognised in the income statement if the delivery and passing of risk to the buyer have taken place before the end of the financial year and if the amount of revenue can be determined reliably and is expected to be received. Revenue is recognised exclusive of VAT and less sales discounts. Contract work in progress is recognised on the value of work completed; revenue thus corresponds to the selling price of the production of the year on contract work in progress (the percentage of completion method). Revenue is recognised when total income and expenses under the construction contract and the stage of completion at the balance sheet date can be determined reliably and it is probable that economic benefits, including payments, will flow to the company. Gross profit Revenue less expenses for raw materials and consumables and other external expenses are aggregated in the item 'Gross profit'. Other operating income Other operating income include items of a secondary nature to the company's principal activity. Other external expenses Other external expenses include expenses relating to distribution, sale, advertising, administration, premises, bad debts, operating lease expenses etc. Other operating expenses Other operating expenses include items of a nature secondary to the company's activities, including loss at sales of intangible and tangible non-current assets. Leases Lease payments under contracts and other rental agreements are recognised in the income statement over the term of the contracts. The company's total liabilities relating to leases and rental agreements are stated under rental and lease obligations. Staff costs Staff costs include wages and salaries and social security costs, pensions etc. for the company's staff. Financial income and expenses Net financials include interest income and expenses, financial expenses relating to finance leases, realised and unrealised capital gains and losses from foreign currency securities, payables and transactions, amortisation of mortgage loans and surcharges and allowances under the tax prepayment scheme etc. Income from investments in group enterprises Income from investments in group enterprises is recognised in the income statement at the proportionate share of the enterprises' income or loss after adjustment to eliminate intercompany profits or losses. Tax on net income or loss for the year Tax for the year, comprising current tax for the year and changes in deferred tax for the year, is recognised in the income statement as the share attributable to net income or loss for the year, and directly in equity as the share attributable to entries directly to equity. The company is subject to Danish regulations on compulsory joint taxation of its Danish subsidiaries. The com-pany is the administration company in the joint taxation scheme and thus settles all income tax payments with the tax authorities. For settlement of the joint tax contribution, the current Danish income tax is distributed between the jointly taxed companies in proportion to their taxable income. Under the joint taxation scheme, companies with tax losses receive joint tax contributions from companies that have been able to use these losses (full allocation). Balance sheet Intangible assets Intangible assets are measured at cost less accumulated amortisation. Intangible assets are amortised on a straight-line basis over the estimated useful lives of the assets. Estimated useful lives are included as follows: Depreciation period Residual value Patents, licenses and similar rights 5 years 0% Property, plant and equipment Property, plant and equipment are measured at cost less accumulated depreciation. Property, plant and equip-ment are depreciated on a straight-line basis, based on an estimate of the useful life and residual value of each asset. The basis of depreciation is cost less estimated residual value at the end of the useful life. Cost includes the cost of acquisition and expenses directly related to the acquisition until the asset is ready for use. The depreciation period and residual value are determined at the time of acquisition and will be reassessed on an annual basis. If the residual value of the asset exceeds its book value, depreciation will be discontinued. When there is a change in the depreciation period or residual value, the effect on depreciation will be recognised on a forward-looking basis as a change in the accounting estimate. Estimated useful lives are included as follows: Depreciation period Residual value Leasehold improvements 5 years 0% Other fixtures and fittings, tools and equipment 3-5 years 0% Profit or loss on the disposal of property, plant and equipment is determined as the difference between the selling price less selling costs and the carrying amount at the time of sale. Profit or loss is recognised in the income statement under other operating income or other operating expenses. Impairment losses on non-current assets The carrying amount of tangible assets is assessed every year to determine whether there are indications of any impairment of value beyond what is expressed in the amortisation and depreciation charges. If there are indications of impairment, an impairment test must be carried out for each individual asset or group of assets, respectively. An impairment charge is taken against the recoverable amount of the assets, if that is lower than the carrying amount. The higher of the net selling price and the value in use is used as the recoverable amount. The value in use is determined as the present value of the estimated net income from the use of the asset or asset group. Investments Investments in group enterprises are recognised using the equity method. The equity method is used as the measurement method. The share of the net income or loss for the year is recognised in the income statement. In the balance sheet, the proportionate ownership interest of the equity value is measured, determined using the parent company's accounting policies, adjusted for unrealised intercompany profits or losses. Deposits are measured at cost. Inventories Inventories are measured at cost using the FIFO method or net realisable value where this is lower. Any write-downs of inventories to net realisable value are recognised in the income statement. The net realisable value of inventories is calculated as the selling price less the costs of completion and expenses incurred to produce sales and is determined with a view to marketability, obsolescence and developments in expected selling price. The cost of goods for resale as well as raw materials and consumables used includes the cost of acquisition plus delivery costs. Prepayment of goods are measured at cost price. Receivables Receivables are measured in the balance sheet at amortised cost, usually equivalent to nominal value. The value is reduced by write-downs for expected losses following an assessment of each receivable. Uninvoiced receivables at the balance sheet date are measured at the expected sales value. Work in progress Work in progress is measured at the selling price of the work performed by reference to the stage of completion. The stage of completion is determined by the proportion of costs incurred relative to the estimated total costs of the project. When it is probable that the total project costs of the project will exceed the total project revenue, the expected loss is recognised in the income statement. When the selling price cannot be determined reliably, the selling price is measured based on costs incurred or a lower net realisable value. Progress billings are deducted from the selling price. Individual projects are classified as receivables when the net value is positive, and as payables when prepayments exceed the selling price. Prepayments (recognised as assets) Prepayments recognised as assets include expenses incurred in respect of subsequent financial years. Cash Includes cash and easily realisable securities which are subject to insignificant risk of changes in value. Reserve for net revaluation according to the equity method The reserve for net revaluation according to the equity method in the company's financial statements comprises net revaluation of investments in subsidiaries, participating interests and associates relative to the cost. Dividend Management's proposed dividend for the year is shown as a separate item under equity. Proposed dividend is recognised as a liability at the time of its adoption by the general meeting. Payables Payables are measured at cost, equivalent to nominal value. Tax payable and deferred tax Current tax liabilities and tax receivable are measured in the balance sheet as tax calculated on the taxable in-come for the year, adjusted for tax on taxable for previous years and tax prepaid. Deferred tax on temporary differences between the tax base of assets and liabilities and their carrying amounts is measured under the balance sheet liability method. Deferred tax is measured on the basis of the tax regulations and rates that, according to the rules in force at the balance sheet date, will apply at the time the deferred tax is expected to crystallise as current tax. Changes in deferred tax as a result of changes in tax rates are recognised in the income statement. Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2025-01-01 2025-12-31 2024-01-01 2024-12-31 2026-02-25 Reporting class B 2026-02-25 29919801 DANSK REVISION SLAGELSE GODKENDT REVISIONSAKTIESELSKAB Ndr.Ringgade 74 4200 Slagelse Opinion Basis for Opinion 2026-02-25