25556631 2025-01-01 2025-12-31 25556631 2025-01-01 2025-12-31 0 25556631 2025-01-01 2025-12-31 0 25556631 2025-01-01 2025-12-31 1 25556631 2025-01-01 2025-12-31 0 25556631 2025-01-01 2025-12-31 0 25556631 2024-01-01 2024-12-31 25556631 2025-12-31 25556631 2024-12-31 25556631 2024-12-31 fsa:ContributedCapitalMember 25556631 2024-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 25556631 2024-12-31 fsa:RetainedEarningsMember 25556631 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 25556631 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 25556631 2025-01-01 2025-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 25556631 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 25556631 2025-01-01 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 25556631 2025-12-31 fsa:ContributedCapitalMember 25556631 2025-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 25556631 2025-12-31 fsa:RetainedEarningsMember 25556631 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember xbrli:pure iso4217:DKK 30195264 Kallermann Revision A/S - statsautoriseret revisionsfirma Stationspladsen 1 og 3 3000 Helsingør Revisionspåtegning Konklusion Grundlag for konklusion Årsrapport Regnskabsklasse B 2025-01-01 2025-12-31 2024-01-01 2024-12-31 true 0 Enetpulse ApS Dybendalsvænget 3Dybendalsvænget 3 2630 Taastrup 25556631 2026-04-08 Simon Skarsholm Today, Management has considered and adopted the Annual Report of Enetpulse ApS for the financial year 1 January 2025 - 31 December 2025. 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 assets, liabilities and financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January 2025 - 31 December 2025. In our opinion, the Management's Review includes a true and fair account of the matters addressed in the review. We recommend that the Annual Report be adopted at the Annual General Meeting. Taastrup 2026-04-08 Simon Skarsholm Manager Ulrik Jensen Simon Skarsholm Chairman To the shareholders of Enetpulse ApS OpinionWe have audited the financial statements of Enetpulse ApS for the financial year 1 January 2025 - 31 December 2025, which comprise an income statement, balance sheet, statement of changes in equity and notes. 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 Company's financial position at 31 December 2025 and of the results of its operations for the financial year 1 January 2025 - 31 December 2025 in accordance with the Danish Financial Statements Act. Basis of opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibility under those standards and requirements are further described in the “Auditors' responsibility 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 (including International Independence Standards) (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statement 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's responsibility for the financial statementsManagement 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 considers 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 either liquidate the Company or suspend operations, or has no realistic alternative but to do so. The auditor's responsibility for the audit of the financial statementsOur responsibility is to obtain reasonable assurance as to whether the financial statements are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is no guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect material misstatements. Misstatements can arise from fraud or error and can be considered material if it would be reasonable to expect that these - either individually or collectively - could influence the economic decisions taken by the users of financial statements on the basis of these financial statements.As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain an attitude of professional skepticism throughout the audit. We also:*Identify and assess the risk of material misstatements in 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 a material misstatement resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or 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 whether the accounting policies used are appropriate and whether the accounting estimates and the related disclosures made by Management are reasonable.*Conclude on whether Management's use of the going concern basis of accounting in preparing the financial statements is appropriate and, based on the audit evidence obtained, conclude on whether a material uncertainty exists relating to events or conditions, which could 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 auditors' 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 auditors' report. However, future events or conditions may imply that the Company can no longer remain a going concern.*Evaluate the overall presentation, structure and contents of the financial statements, including note disclosures, and whether the financial statements reflect 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 which we identify during our audit. Statement on Management's ReviewManagement 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 opinion providing assurance regarding the Management's review.Our responsibility in connection with our audit of the financial statements is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or with the knowledge we have gained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether the Management's review meets the disclosure requirements in the Danish Financial Statements Act.Based on our procedures, we are of the opinion that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements in the Danish Financial Statements Act. In our opinion, the Management's review is not materially misstated. Elsinore 2026-04-08 Kallermann Revision A/S - statsautoriseret revisionsfirma 30195264 Rasmus Rolighed Asmussen State Authorized Public Accountant mne45874 Enetpulse ApS 2630 Taastrup 25556631 2025-01-01 2025-12-31 Stationspladsen 1 og 3 3000 Helsingør Primary activities The primary activity comprises collecting, packaging and reselling sports data. Development in activities and the financial situationThe Company's Income Statement of the financial year 1 January 2025 - 31 December 2025 shows a result of 6.874.067 DKK and the Balance Sheet at 31 December 2025 a total of 20.820.479 DKK and an equity of 12.711.859DKK. Post financial year eventsAfter the end of the financial year, no events have occurred which may change the financial position of the entity substantially. The annual report of Enetpulse ApS for 2025 has been presented in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class Bwith additional choice of a few rules from class C enterprises. Consolidated Financial StatementsWith reference to § 110 of the Danish Financial Statements Act, no Consolidated Financial Statement have been prepared because the Group enterprises do not exceed the amount limits. Translation policiesOn initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at thetransaction date. Foreign exchange differences arising between the exchange rates at the transaction date and thedate of payment are recognized in the income statement as financial income or expenses.Receivables, payables and other monetary items denominated in foreign currencies are translated using theexchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction dateand the one in effect at the payment date or the rate at the balance sheet date are recognized in the incomestatement as financial income or financial expenses.Long-term assets purchased in foreign currency are translated at the exchange rate at the transaction date. Income statement Gross profit/lossGross profit is a combination of the items of revenue, other operating income and other external expenses. RevenueThe revenue from service rendered, which comprises service contracts, are recognized on a straight-line basis inthe revenue concurrently with delivery of the services, as the services are rendered in the shape of an undefinablenumber of actions during a specified period of time.Revenue is measured to fair value of the agreed fee ex. VAT and taxes charged on behalf of third parties. Alldiscounts granted in connection with the sale are recognized in the revenue. Other operating incomeOther operating income comprises items of a secondary nature to the activities of the enterprises, including profits on sale of intangible and tangible assets and refunds from public authorities. Other external expensesOther external expenses include expenses for sales, advertising, administration, premises, bad debts, operating leasing expenses etc. Staff costsStaff costs include wages and salaries including compensated absence and pension to the Companies employees, as well as other social security contributions etc. Amortisation and impairment of tangible and intangible assetsAmortization and impairment of intangible assets, property, plant and equipment has been performed based on a continuing assessment of the useful life of the assets in the Company. Non-current assets are amortized on a straight line basis, based on cost, on the basis of the following assessment of useful life and residual values:Useful lifeResidual valueOther fixtures and fittings, tools and equipment5 years0% Income from investments in group enterprisesA proportional share of the result after tax in the subjacent companies is recognized according to the equitymethod in the income statement. Profit shares after tax in subsidiaries companies are presented in the incomestatement in separate lines. A full elimination of group internal profit/loss is made on equity investments in thesubsidiaries. Financial income and expensesFinancial income and expenses are recognised in the income statement based at the amounts that concern the financial year. Financial income and expenses include interest revenue and expenses, realised and unrealised capital gains and losses regarding securities, accounts payable and transactions in foreign currencies and surcharges and allowances under the advance-payment of tax scheme. Tax on net profit for the yearTax on net profit/loss for the year comprises current tax on expected taxable income of the year and the year's adjustment of deferred tax less the part of the tax of the year that relates to changes in equity. Current and deferred tax regarding changes in equity is recognised directly in equity. Balance sheet Property, plant and equipmentProperty, plant and equipment are measured at cost on initial recognition and subsequently at cost less accumulated depreciation and impairment losses.The depreciable amount is calculated taking into consideration the residual value of the asset at the end of its useful life, reduced by impairment losses, if any. The depreciation period and the residual value are determined at the data of acquisition. If the residual value exceeds the carrying amount of the asset, depreciation is discontinued.In case of changes in depreciation period or residual value, the effect of a change in depreciation period is recognised prospectively in accounting estimates.Cost includes the purchase price and expenses directly related to the acquisition until the time when the asset is ready for use. The cost of self-constructed assets includes costs for materials, components, subcontractors, direct payroll costs and indirect production costs.The cost of composite asset is disaggregated into components, which are separately depreciated if the useful lives of the individual component differ. Equity investments in group enterprises Investments in group enterprises and associates are recognized in the balance sheet at the proportionate share of the equity value of the enterprises, calculated according to the parent Company's accounting policies with the deduction or addition of unrealised intercompany profits or losses and with the addition or deduction of the remaining value of positive or negative goodwill, calculated according to the purchase method.Subsidiaries having a negative equity value are recognised at DKK 0, and any amounts receivable from those enterprises are written down by the parent Company's share of the negative equity value to the extent that the amounts are deemed to be uncollectible.If the negative equity value exceeds receivables, the remaining amount is recognised as a provision to the extent that the parent Company has a legal or constructive obligation to cover the negative balance of the relevant subsidiary. DepositsDeposits are measured at cost. ReceivablesReceivables are measured at amortized cost which usually corresponds to the nominal value. The value is reduced by write-downs for expected bad debts.Impairment of accounts receivables past due is established on individual assessment of receivables. Accrued income, assetsAccrued income recognised in assets comprises prepaid costs regarding subsequent financial years. Cash and cash equivalentsCash and cash equivalents comprise cash at bank. EquityEquity comprises the working capital and a number of equity items that may be statutory or stipulated in the articles of association. DividendsProposed dividend for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting. Deferred taxDeferred tax and the associated adjustments for the year are determined according to the liability method as the tax base of all temporary differences between carrying amounts and the tax bases of assets and liabilities. Deferred tax assets, including the tax base of tax losses allowed for carryforward, are recognised at the value at which they are expected to be used, either by elimination in tax on future earnings or by set-off against deferred tax liabilities in enterprises within the same legal entity and jurisdiction.Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation applicable at the balance sheet date when the deferred tax is expected to crystallize as current tax. Current tax liabilitiesCurrent tax liabilities and current tax receivables are recognised in the balance sheet as estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account. LiabilitiesLiabilities are measured at amortized cost, which usually corresponds to the nominal value. Accruals and deferred income entered as liabilitiesAccruals and deferred income entered as liabilities consist of payments received regarding income in the subsequent financial years. 10301001 13827669 7853294 8341053 73750 23333 2373957 5463283 6097358 1354077 92579 335288 279079 0 8284815 7152648 1410748 1349405 6874067 5803243 -6097358 -1354077 8573291 10775834 318750 326667 318750 326667 7105944 4347566 144459 141491 7250403 4489057 7569153 4815724 3429430 2122782 3521153 2281293 9730173 18339690 13251326 20620983 20820479 25436707 242221 242221 0 4311490 3119638 1284081 9350000 15225000 12711859 21062792 14220 14117 14220 14117 1511723 899175 129049 244269 5033405 2271503 396347 331494 1023876 613357 8094400 4359798 8094400 4359798 20820479 25436707 242221 4311490 1284081 15225000 0 0 0 -15225000 0 6097358 -8573291 9350000 0 -10408848 10408848 0 242221 0 3119638 9350000 20252024DKKDKK1. Employee benefits expenseWages and salaries6.786.9597.119.694Post-employement benefit expense967.1331.107.998Social security contributions99.202113.3617.853.2948.341.053Average number of employees1114 3. Fixtures, fittings, tools and equipmentCost at the beginning of the year412.30462.304Addition during the year375.000350.000Disposal during the year-350.0000Cost at the end of year437.304412.304Accumulated depreciation at the beginning of the year-85.637-62.304Amortisation for the year-73.750-23.333Reversal of impairment losses and amortisation of disposed assets40.8330Accumulated depreciation at the end of year-118.554-85.637Fixtures, fittings, tools and equipment at the end of year318.750326.6674. DepositsCost at the beginning of the year141.491141.491Addition during the year2.9680Cost at the end of the year144.459141.491Carrying amount at the end of the year144.459141.491 5. Investments in group enterprisesCost at the beginning of the year36.07636.076Cost at the end of year36.07636.076Value adjustments at the beginning of the year4.311.4905.579.010Change due to foreign currency translation adjustment21.0510Adjustments for the year6.097.3581.354.077Received dividend-3.360.031-2.621.597Value adjustments at the end of year7.069.8684.311.490Investments in group enterprises at the end of year7.105.9444.347.5666. Related partiesGroup enterprisesNameRegistered officeShare held in %EquityProfitEnetpulse EOODBulgaria100,007.105.9446.097.3587.105.9446.097.358 7. Contingent liabilitiesNo contingent liabilities exist at the balance sheet date. 8. Collaterals and securitiesNo securities or mortgages exist at the balance sheet date. 9. Liabilities under leasesThe Company has rent commitments for 220.428 DKK.