27278388 2024-01-01 2024-12-31 27278388 2024-01-01 2024-12-31 cmn:PreviousYearMember 27278388 2024-01-01 2024-12-31 cmn:TwoYearsAgoMember 27278388 2024-01-01 2024-12-31 cmn:ThreeYearsAgoMember 27278388 2024-01-01 2024-12-31 cmn:FourYearsAgoMember 27278388 2024-01-01 2024-12-31 1973 27278388 2024-01-01 2024-12-31 cmn:PreviousYearMember 1973 27278388 2024-01-01 2024-12-31 cmn:TwoYearsAgoMember 1973 27278388 2024-01-01 2024-12-31 cmn:ThreeYearsAgoMember 1973 27278388 2024-01-01 2024-12-31 cmn:FourYearsAgoMember 1973 27278388 2024-01-01 2024-12-31 382 27278388 2024-01-01 2024-12-31 cmn:PreviousYearMember 382 27278388 2024-01-01 2024-12-31 cmn:TwoYearsAgoMember 382 27278388 2024-01-01 2024-12-31 cmn:ThreeYearsAgoMember 382 27278388 2024-01-01 2024-12-31 cmn:FourYearsAgoMember 382 27278388 2024-12-31 27278388 2024-12-31 cmn:PreviousYearMember 27278388 2024-12-31 cmn:TwoYearsAgoMember 27278388 2024-12-31 cmn:ThreeYearsAgoMember 27278388 2024-12-31 cmn:FourYearsAgoMember 27278388 2024-01-01 2024-12-31 389 27278388 2024-01-01 2024-12-31 cmn:PreviousYearMember 389 27278388 2024-01-01 2024-12-31 cmn:TwoYearsAgoMember 389 27278388 2024-01-01 2024-12-31 cmn:ThreeYearsAgoMember 389 27278388 2024-01-01 2024-12-31 cmn:FourYearsAgoMember 389 27278388 2024-01-01 2024-12-31 586 27278388 2024-01-01 2024-12-31 cmn:PreviousYearMember 586 27278388 2024-01-01 2024-12-31 cmn:TwoYearsAgoMember 586 27278388 2024-01-01 2024-12-31 cmn:ThreeYearsAgoMember 586 27278388 2024-01-01 2024-12-31 cmn:FourYearsAgoMember 586 27278388 2024-01-01 2024-12-31 401 27278388 2024-01-01 2024-12-31 cmn:PreviousYearMember 401 27278388 2024-01-01 2024-12-31 cmn:TwoYearsAgoMember 401 27278388 2024-01-01 2024-12-31 cmn:ThreeYearsAgoMember 401 27278388 2024-01-01 2024-12-31 cmn:FourYearsAgoMember 401 27278388 2024-01-01 27278388 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 27278388 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 27278388 2024-01-01 2024-12-31 27278388 2024-12-31 27278388 2023-01-01 2023-12-31 27278388 2023-12-31 27278388 2024-01-01 2024-12-31 1 27278388 2024-01-01 2024-12-31 2 27278388 2024-01-01 2024-12-31 3 27278388 2024-01-01 2024-12-31 1 iso4217:DKK xbrli:pure 2024-01-01 2024-12-31 2025-02-25 2025-02-25 2025-02-25 Copenhagen inforevision statsautoriseret revisionsaktieselskab 2860 Søborg Deichmann-Sko ApS Buddingevej 312 Vesterbrogade 6D, 1. 1620 Søborg 27278388 2023-01-01 2023-12-31 64723000 60394000 68256000 70230000 46279000 1408490 EBITDA -3259370 EBITDA 3904686 EBITDA 19212367 EBITDA 0 EBITDA -2593000 Resultat af primær drift -10850000 Resultat af primær drift -2531000 Resultat af primær drift 12149000 Resultat af primær drift -9273000 Resultat af primær drift 47000 41000 -79000 -104000 -143000 -3657000 -8551000 -1932000 9395000 -7345000 81644000 85818000 98158000 112583000 105398000 36635000 Investeret kapital 27400000 Investeret kapital 40617000 Investeret kapital 16869000 Investeret kapital 23256000 Investeret kapital 59519000 63177000 71728000 88660000 79264000 -5996000 6732000 -6978000 18703000 664000 -8601000 -9899000 -8789000 -1962000 -8756000 1819000 6053000 -21980000 0 0 138 136 144 144 144 -0.1 -0.3 -0.1 0.6 -0.4 2.7 Likviditetsgrad 3.1 Likviditetsgrad 2.9 Likviditetsgrad 3.9 Likviditetsgrad 0.0 Likviditetsgrad 0.7 0.7 0.7 0.8 0.8 -0.1 -0.1 0.0 0.1 -0.1 -8.7 NIBD/​​​​​EBITDA 0.0 NIBD/​​​​​EBITDA -5.9 NIBD/​​​​​EBITDA -3.2 NIBD/​​​​​EBITDA 0.0 NIBD/​​​​​EBITDA FINANCIAL HIGHLIGHTS 2024 2023 2022 2021 2020 DKK'000 DKK'000 DKK'000 DKK'000 DKK'000 Key figures Income statement       Gross profit/loss 64,723 60,394 68,256 70,230 46,279 EBITDA 1,408 -3,259 3,905 19,212 0 EBIT -2,593 -10,850 -2,531 12,149 -9,273 Net financials 47 41 -79 -104 -143 Profit/loss for the year -3,657 -8,551 -1,932 9,395 -7,345 Balance sheet Total assets 81,644 85,818 98,158 112,583 105,398 Invested capital 36,635 27,400 40,617 16,869 23,256 Equity 59,519 63,177 71,728 88,660 79,264 Cash flows Cash flow from operating activities -5,996 6,732 -6,978 18,703 664 Cash flow from investing activities -8,601 -9,899 -8,789 -1,962 -8,756 Cash flow from financing activities 1,819 6,053 -21,980 0 0 Cash flows for the year -12,778 2,886 -37,747 16,741 -8,092       Average number of full-time employee 138 136 144 144 144 Ratios Return on invested capital (%) -8,1% -31,9% -8,8% 60,6% -41,0% Liquidity ratio 2.7 3.1 2.9 3.9 0.0 Solvency ratio (%) 72,9% 73,6% 73,1% 78,8% 75,0% Return on equity (%) -6,0% -12,7% -2,4% 11,2% -9,0% NIBD/​​​​​EBITDA -8.7 0.0 -5.9 -3.2 0.0 Key figures and ratios are defined and calculated in accordance with the Danish Finance Society's online version of "Recommendations & Ratios". Please refer to definitions in the section on accounting policies. The company's primary activities were sale of shoes, shoe articles, textiles and related activities. Danish Statistical office show a sales index decline from 100% in 2023 to 98% 2024 for the general footwear industry YTD November 2024. The lower spending from consumers combined with general challenges in Deichmann supply chain i.e. not enough shoes in the right seasons, due to both internal and external factors, impacted the planned sales negatively. Seasonal weather conditions were more difficult to predict than earlier and impacted on the planned sales periods, which led to more work and lower sales. The company managed to lower the total stock levels during the year and continued to focus on minimizing the overall costs. The company opened 2 new stores in 2024 and invested in 2 store renovations to secure its market position for the future. COVID19 compensation packages from the Danish Commercial Agency were finalized in 2024, so no open issues remain from the previous lockdown periods. The company ends with a financial net loss of 3,7 M DKK for 2024, which the management does not consider satisfactory. Deichmann continues its 23rd year in the Danish shoe market with an updated new product range and ongoing roll-out of the group's vision "The company must serve the people". The new store concept is continued with renovations of existing stores for the benefit of customers, employees, and partners. With a continued ambition to be the customers' first choice, when buying quality shoes for the whole family at the right prices, Deichmann has updated the collection immense for 2025 with more known brands, and even higher quality to meet the demands of the Danish consumer, and with further investments in optimizing the digital platform for the online store, the company expects a positive result for 2025 at the level of 2019 result. The company continues actively to work on various environmental measures to reduce CO2 emissions in stores and headquarters and will secure the necessary resources to be compliant with the new EU environmental standards and requirements e.g. New Packaging Law, CSRD directive, Taxonomy etc. in close corporation with the ESG Governance department etc. in the Deichmann Group. The Executive Board have today considered and adopted the annual report for 1 January 2024 - 31 December 2024 for Deichmann-Sko ApS. The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the the company's financial position at 31 December 2024 and of the results of its operations and cash flows for the financial year 1 January 2024 - 31 December 2024. We believe that the Management's review contains a fair review of the affairs and conditions referred to therein. We recommend that the annual report be adopted at the Annual General Meeting. To the shareholder in Deichmann-Sko ApS We have audited the financial statements of Deichmann-Sko ApS for the financial year 1 January 2024 - 31 December 2024, which comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity, statement of cash flows and notes. The financial statements are prepared under 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 2024 and of the results of the company's operations and cash flows for the financial year 1 January 2024 - 31 December 2024 in accordance with the Danish Financial Statements Act. We 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 company in accordance with the International Ethics Standards Board of Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and 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, 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 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 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 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 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. Management is responsible for Management’s Review.Our opinion on the financial statements does not cover Management’s Review, 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 Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financials Statements Act.Based on the work we have performed, in our view, Management’s Review 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 in Management’s Review. The annual report has been prepared in accordance with Danish financial statement legislation as well as generally accepted accounting principles. The annual report has been prepared in accordance with the provisions of the Danish Financial Statements Act governing Reporting class C, (medium-sized enterprises).The accounting policies have not been changed from last year. Long term "Other payables" has been reclassified as "Deferred income". The adjustment is recognised in the comparative figures The change results in DKK 4,002,072 being reclassified. The effect of the correction does not affect equity at the beginning of the year. The above change has not resulted in a change in the result for the financial year, net equity or balance sheet total. The financial statements have been prepared based on historical cost.The income is recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset 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.Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below.Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the maturity period. Amortised cost is calculated as original cost less any repayments and with addition/deduction of the cumulative amortisation of any difference between cost and the nominal amount. In this way, capital losses and gains are allocated over the maturity period.Recognition and measurement take into account predictable losses and risks occurring before the presentation of the annual report which confirm or invalidate affairs and conditions existing at the balance sheet date.The functional currency is Danish Kroner. All other currencies are considered foreign currencies. During the year, transactions in foreign currencies have been translated applying the exchange rate at the transaction date. If currency positions are considered hedge of future cash flows, the value adjustments are recognised directly in equity.Receivables and debt denominated in foreign currencies have been recognised at the exchange rate of the balance sheet date.Realised and unrealised exchange gains and losses have been recognised in the income statement under other financial income and expenses. Gross profit/loss includes "Revenue""Cost of sales""Other operating income""External expenses". As income recognition criterion, the completed contract method is applied so that revenue comprises invoiced revenue for the year. Revenue from the sale of goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer before the end of the financial year. Revenue is measured at fair value excl. VAT and less granted goods and customer discounts. Other operating income comprises income of a secondary nature as viewed in relation to the company's primary activities, including payments received from public authorities, depreciation on received building subsidies, re-invoiced salary costs as well as profit on sale of fixed assets. Payments received from public authorities consist of salary reimbursements and compensations from national subsidy scheme COVID-19. The company has regularly received grants in connection with the fitting out of new stores, which are amortized over 8 years, corresponding to the depreciation profile of the equivalent tangible fixed asset. The proportionate share of the grant is thus recognized in the income statement under other operating income over the period. Grants are presented under other non-current liabilities. External expenses comprises cost of consumables/goods for resalesale facility cost administrative expenses. Staff costs include wages and salaries including holiday pay and pensions and other social security costs etc. to the company's employees. Other operating expenses comprises expenses of a secondary nature as viewed in relation to the company's primary activities, including losses on sale of fixed assets. Financial income is recognised with amounts concerning the the financial year. Financial income comprise interest, realised and unrealised exchange gains as well as interest reimbursements under the Danish Tax Prepayment Scheme. Financial expenses is recognised with amounts concerning the the financial year. Financial expenses comprise interest, realised and unrealised exchange losses as well as interest surcharge under the Danish Tax Prepayment Scheme. Tax on profit or loss for the year represents 22% of the book profit or loss adjusted for non-taxable and non-deductible items. Tax on profit or loss for the year consists of the anticipated tax portion of the taxable income for the year adjusted for the changes for the year in deferred tax. Changes in deferred taxes due to adjustments of tax rates is recognised in the income statement. Tax on profit or loss for the year is recognised in the income statement by the portion attributable to the profit or loss for the year and recognised directly in equity by the portion attributable to entries directly in equity. The company is subject to the Danish Tax Prepayment Scheme. Interest reimbursement and interest surcharge have been recognised in financial income and expenses. The balance sheet has been presented in account form. Property, plant and equipment are measured at cost less accumulate depreciation. The basis of depreciation is cost less estimated residual value after the end of useful life. Cost comprises the acquisition price as well as costs directly related to the acquisition until the time when the asset is ready to be put into operation. The cost price for an asset is divided into separate components, that are depreciated separately, if the useful life of the individual components is significantly different. Depreciation is initiated when the assets are ready to be taken into operation. Assets are depreciated on a straight-line basis over their estimated useful lives with following residual values:Category Period Residual value Fixtures, fittings, tools and equipment 5-8 years 0% Minor purchases with useful lives below one year have been recognised as an expense in the income statement in external expenses.Profit/loss on sale or retirement has been included in the income statement under other operating income and other operating expenses.The carrying amounts of property, plant and equipment are reviewed annually for indication of impairment for losses, apart from what is expressed by usual depreciation. If this applies, impairment for loss is made of each asset or group of assets, respectively, to lower recoverable amount. As recoverable amount, the higher of expected net selling price and net present value is applied. The net present value is calculated as the present value of the expected cash flows from the use of the asset or the group of assets.Impairment for loss for the year is recognised in the income statement as amortisation, depreciation and impairment for loss of property, plant and equipment and intangible assets.During the year we have reclassified construction grants from fixed assets and presented them as other payables. Comparative figures have also been restated accordingly. Deposits recognised as fixed assets are measured at amortised cost, which usually corresponds to nominal amount. Inventories are measured at cost according to the FIFO method. In the event of cost exceeding net realisable value, writedown is made to this lower value. Cost of goods for resale as well as raw materials and consumables comprises purchase price plus landing costs. The net realisable value of inventories is calculated as selling price less completion costs and costs incurred to execute sale. The net realisable value is determined allowing for marketability, obsolescence and development in expected sales price.Received prepayments from customers regarding non delivered goods are recognised as liabilities. Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Provisions for bad debts are determined on the basis of an individual assessment of each receivable. Prepayments comprise costs incurred relating to subsequent financial years. Dividend distribution proposed by Management for the year is disclosed as a separate equity item. Deferred tax is measured using the balance sheet liability method. Provision has been made for deferred tax by 22% on all temporary differences between carrying amount and tax-based value of assets and liabilities. Deferred tax is also measures with respect of the planned use of the asset and the settlement of the liability. The tax value of the tax losses to be carried forward are included in the calculation of deferred taxes if it is probable that the losses can be used. Deferred tax assets are measured at net realisable value.Deferred tax assets which are not expected utilised within a few years have been disclosed in notes under contingent assets.Corporation tax relating to the the financial year which has not been settled at the balance sheet date is classified as corporation tax in receivables or liabilities other than provisions. Deferred income consist of grants received in connection with store refurbishment and interior maintenance. Short-term debts are measured at amortised cost, substantially corresponding to nominal value. The cash flow statement shows the company's cash flows broken down by operating, investing and financing activities, changes for the year in cash and cash equivalents as wells as cash and cash equivalents at the beginning and end of the year. Cash flows from acquisitions and divestments are shown separately under cash flows from investing activities. In the cash flow statement, cash flows regarding acquired companies are recognised from the date of acquisition and cash flows from divested companies are recognised until the transfer date. Cash flows from operating activities are calculated as the net profit/loss for the year adjusted for non-cash operating items, financial income and expenses paid, corporation taxes as well as increase and decrease in inventories, trade receivables, trade payables and other changes in assets and liabilities other than provisions deriving from operations. Cash flows from investing activities comprise payments in the year in connection with acquisition and sale of fixed assets as well as payments in connection with acquisition and divestment of companies. Cash flows from financing activities comprise payments in the year from inception and repayment of long-term liabilities other than provisions as well as payments made to and received from the shareholder's.Cash and cash equivalents comprise cash funds. Financial highlights are defined and calculated in accordance with the current version of "Recommendations & Ratios" issued by the CFA Society Denmark. Financial highlights are calculated on basis of the financial statements, and no adjustments nor normalisations for analysis purposes have been made unless expressed in the section of the financial highlights. The financial highlights are calculated as follows:Financial highlights Explanation Gross margin = Gross profit/loss * 100/Revenue EBIT margin = EBIT * 100/Revenue Return on invested capital = EBIT * 100/Average invested capital* Solvency ratio = Equity * 100/Total assets Return on equity = Profit/loss for the year * 100/Average equity *Invested capital are defined as net working capital with addition of operating intangible assets and Property, plant and equipment and deducted by other provisions. 64722840 60393532 63277888 63300647 4001662 7590312 36462 352255 -2593172 -10849682 128280 172089 81300 131428 -2546192 -10809021 1111072 -2258060 -3657264 -8550961 22288653 17991177 22288653 17991177 10111694 9764706 10111694 9764706 32400347 27755883 22750262 21617214 22750262 21617214 2583033 2410749 904710 2463014 422230 37746 561000 268000 4057904 5168976 4999184 353178 13528061 10701663 12965761 25743565 49244084 58062442 81644431 85818325 3449000 3449000 56070346 59727610 59519346 63176610 4010758 4002072 4010758 4002072 754275 0 8978499 4863289 261175 0 8120378 13776354 18114327 18639643 22125085 22641715 81644431 85818325 STATEMENT OF CHANGES IN EQUITY Contributed capital Retained earnings Total DKK DKK DKK Equity at 1 January 2023 3,449,000 68,278,571 71,727,571 Distributed profit/loss for the year -8,550,961 -8,550,961 Equity at 1 January 2024 3,449,000 59,727,610 63,176,610 Distributed profit/loss for the year -3,657,264 -3,657,264 Equity at 31 December 2024 3,449,000 56,070,346 59,519,346 4001662 7590312 1019092 -2786371 1133048 -9461707 -172284 -158569 -4115210 2549121 -9923504 2791982 128280 172089 81300 131428 293000 -892000 -5996156 8350956 9450991 96817 881830 615338 1682960 268350 353013 -8601127 -1819479 -6053484 1819479 -12777804 12965761 12965761 SPECIAL ITEMS 2024 2023 DKK DKK Compensations, national subsidy scheme COVID-19 2,073,457 0 Salary reimbursements  1,529,377 2,570,402 Amortization, building subsidies  695,996 886,794 Re-invoiced salary costs 8,111,440 8,758,742 Re-invoiced administration costs 1,522,292 0 Total 13,932,562 12,703,588 Special items is included in the income statement in the items "Gross profit". 56380521 56589508 4564326 4266277 1023345 1010355 1309696 1434507 138 136 STAFF COSTS 2024 2023 DKK DKK Wages and salaries 56,380,521 56,589,508 Pensions 4,564,326 4,266,277 Other social security costs 1,023,345 1,010,355 Other staff cost 1,309,696 1,434,507 Total 63,277,888 63,300,647 Average number of full-time employees 138 136 Remuneration for management categories: Executive Board 4,070,000 3,160,000 DEPRECIATION, AMORTISATION AND IMPAIRMENT LOSSES OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS 2024 2023 DKK DKK Depreciation of property, plant and equipment 4,001,663 7,590,312 I alt 4,001,663 7,590,312 100307 134390 27973 37699 FINANCE INCOME 2024 2023 DKK DKK Financial income from group enterprises 100,307 134,390 Other financial income 27,973 37,699 I alt 128,280 172,089 23763 54444 57537 76984 FINANCE EXPENSES 2024 2023 DKK DKK Financial expenses to group enterprises 23,763 54,444 Other financial expenses 57,537 76,984 I alt 81,300 131,428 TAX EXPENSE Corporation tax Deferred tax Tax on profit/loss for the year 2023 DKK DKK DKK DKK Payables at 1 January 2024 -268,000 -5,168,976 Adjustment tax, previous years 0 -316,268 -316,268 0 Paid in respect of previous years 268,000 Tax on profit/loss for the year 0 1,427,340 1,427,340 -2,258,060 Prepaid tax -561,000 Payables at 31 December 2024 -561,000 -4,057,904 Tax on profit/loss for the year recognised in the income statement 1,111,072 -2,258,060 Recognition in balance sheet: Short-term receivables (current asset) -561,000 -4,057,904 Total -561,000 -4,057,904 Deferred tax is incumbent upon the following assets and liabilities:  31/12‑2024  31/12‑2023 DKK DKK Property, plant and equipment -558,423 -1,388,049 Fixed financial assets and current assets 0 -245,205 Tax losses carried forward -5,702,962 -3,539,204 Writedowns to net realisable value 2,200,000 0 Deferred tax liability (+)/Deferred tax asset (-) -4,061,386 -5,172,458 Deferred tax assets are measured at net realisable value and is based on management’s best accounting estimate of the use within a period of 3-5 years. Performing the accounting estimate management has specially taken into consideration the accomplished cost reductions in the production, which had a positive effect on the company’s performance. On basis of budgets for the coming years, management assesses, the use of the deferred tax assets is realistic. PROPERTY, PLANT AND EQUIPMENT Fixtures, fittings, tools and equipment Total 2023 DKK DKK DKK Cost at 1 January 2024 103,993,024 103,993,024 97,420,455 Additions for the year 8,350,956 8,350,956 9,450,991 Disposals for the year -4,165,715 -4,165,715 -2,878,422 Cost at 31 December 2024 108,178,265 108,178,265 103,993,024 Depreciation and impairment losses at 1 January 2024 -86,001,847 -86,001,847 -80,895,777 Depreciation for the year -4,001,663 -4,001,663 -7,590,312 Reversal regarding disposals for the year 4,113,898 4,113,898 2,484,242 Depreciation and impairment losses at 31 December 2024 -85,889,612 -85,889,612 -86,001,847 Carrying amount at 31 December 2024 22,288,653 22,288,653 17,991,177 Selling price, disposals 96,817 96,817 881,830 Carrying amount, disposals -51,817 -51,817 -394,180 Profit/loss on sale 45,000 45,000 487,650 INVESTMENTS Deposits Total 2023 DKK DKK DKK Cost at 1 January 2024 9,764,706 9,764,706 8,434,759 Additions for the year 615,338 615,338 1,682,960 Disposals for the year -268,350 -268,350 -353,013 Cost at 31 December 2024 10,111,694 10,111,694 9,764,706 Carrying amount at 31 December 2024 10,111,694 10,111,694 9,764,706 PREPAYMENTS 2024 2023 DKK DKK Rent etc. 4,254,529 353,178 Other prepaid expenses 489,018 0 Insurance and membership fee's 255,637 0 I alt 4,999,184 353,178 CONTRIBUTED CAPITAL 2024 2023 DKK DKK Contributed capital beginning of the year 3,449,000 3,449,000 I alt 3,449,000 3,449,000 LONG-TERM LIABILITIES 31/12‑2024 31/12‑2023 DKK DKK Liabilities in total: Deferred income 4,765,033 4,002,072 Total 4,765,033 4,002,072 Current portion of non-current liabilities: Deferred income 754,275 0 Total 754,275 0 Due beyond 5 years after the balance sheet date: Deferred income 1,001,159 0 Total 1,001,159 0 CONTINGENT ASSETS 2024 DKK Unrecognised deferred tax assets due to tax losses carried forward and tax depreciation below accounting depreciation on fixtures, fittings, tools and equipment 2,200,000 UNRECOGNISED CONTRACTUAL COMMITMENTS 2024 DKK The company has made a rent agreement for shop facilities pending the year 2030 and is equally divided during the period. The overall residual rent agreement aggregate approx. 79,060,000 The company has entered into operating lease for lease of copying machine. The lease is interminable until 2024. The total lease commitment represents approx. 37,000 Total rental and lease obligations 79,097,000 RELATED PARTIES Related parties with controlling interest comprise the following:   Controlling interest: Basis of controlling interest: Deichmann Schuhe Service GmbH, Deichmannweg 9, Essen, Nordrhein-Westfalen, 45359, Germany Main shareholder Deichmann SE, Deichmannweg 9, Essen, Nordrhein-Westfalen, 45359, Germany Owner of Deichmann Schuhe Service GmbH with 100% Heinrich Otto Deichmann Owner of Deichmann SE with 44,12% In accordance with section 98(c)(6) of the Danish Financial Statements Act no related party transactions have been disclosed as management assess all transactions have been carried out on an arm’s length basis. GROUP RELATIONS The company is included in the consolidated report for the parent companies:     The largest group: Deichmann SE, Essen   The consolidated report of the foreign parent company may be obtained at the parent company webiste www.unternehmensregister.de. 45000 487650 -128280 -172089 -81300 -131428 1111072 -2258060 -3657264 -8550961 Grundlag for konklusion Konklusion Regnskabsklasse C, mellemstor virksomhed Årsrapport Revisionspåtegning Mikkel Schiøler Vinum Linck Direktør Thomas Christensen Direktør Martin Fischer Direktør Mikkel Schiøler Vinum Linck mne36161 Michael Dam-Johansen inforevision statsautoriseret revisionsaktieselskab 19263096