40101578 2025-01-01 2025-12-31 40101578 2025-01-01 2025-12-31 1 40101578 2025-01-01 2025-12-31 1 40101578 2025-01-01 2025-12-31 1 40101578 2025-01-01 2025-12-31 2 40101578 2025-01-01 2025-12-31 3 40101578 2002-01-01 2002-12-31 40101578 2001-01-01 2001-12-31 40101578 2000-01-01 2000-12-31 40101578 2024-01-01 2024-12-31 40101578 2002-12-31 40101578 2001-12-31 40101578 2000-12-31 40101578 2025-12-31 40101578 2024-12-31 40101578 2024-01-01 d:ContributedCapitalMember 40101578 2024-01-01 d:ReserveForNetRevaluationAccordingToEquityMethodMember 40101578 2024-01-01 d:ReserveForDevelopmentExpenditureMember 40101578 2024-01-01 d:OtherStatutoryReservesMember 40101578 2024-01-01 d:RetainedEarningsMember 40101578 2024-01-01 d:ProposedDividendRecognisedInEquityMember 40101578 2024-01-01 2024-12-31 d:ContributedCapitalMember 40101578 2024-01-01 2024-12-31 d:ReserveForNetRevaluationAccordingToEquityMethodMember 40101578 2024-01-01 2024-12-31 d:ReserveForDevelopmentExpenditureMember 40101578 2024-01-01 2024-12-31 d:RetainedEarningsMember 40101578 2024-01-01 2024-12-31 d:ProposedDividendRecognisedInEquityMember 40101578 2024-01-01 2024-12-31 d:OtherStatutoryReservesMember 40101578 2025-01-01 d:ContributedCapitalMember 40101578 2025-01-01 d:ReserveForNetRevaluationAccordingToEquityMethodMember 40101578 2025-01-01 d:ReserveForDevelopmentExpenditureMember 40101578 2025-01-01 d:OtherStatutoryReservesMember 40101578 2025-01-01 d:RetainedEarningsMember 40101578 2025-01-01 d:ProposedDividendRecognisedInEquityMember 40101578 2025-01-01 2025-12-31 d:ReserveForNetRevaluationAccordingToEquityMethodMember 40101578 2025-01-01 2025-12-31 d:ReserveForDevelopmentExpenditureMember 40101578 2025-01-01 2025-12-31 d:OtherStatutoryReservesMember 40101578 2025-01-01 2025-12-31 d:RetainedEarningsMember 40101578 2025-01-01 2025-12-31 d:ProposedDividendRecognisedInEquityMember 40101578 2025-12-31 d:ContributedCapitalMember 40101578 2025-12-31 d:ReserveForNetRevaluationAccordingToEquityMethodMember 40101578 2025-12-31 d:ReserveForDevelopmentExpenditureMember 40101578 2025-12-31 d:OtherStatutoryReservesMember 40101578 2025-12-31 d:RetainedEarningsMember 40101578 2025-12-31 d:ProposedDividendRecognisedInEquityMember 40101578 2025-01-01 d:CompletedDevelopmentProjectsMember 40101578 2025-01-01 2025-12-31 d:CompletedDevelopmentProjectsMember 40101578 2025-12-31 d:CompletedDevelopmentProjectsMember 40101578 2025-01-01 d:FixturesFittingsToolsAndEquipmentMember 40101578 2025-01-01 d:LeaseholdImprovementsMember 40101578 2025-01-01 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 40101578 2025-01-01 2025-12-31 d:LeaseholdImprovementsMember 40101578 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 40101578 2025-12-31 d:LeaseholdImprovementsMember 40101578 2025-12-31 1 40101578 2024-12-31 1 40101578 2025-01-01 40101578 2024-01-01 iso4217:DKK xbrli:pure xbrli:shares Årsrapport 30700228 EY Godkendt Revisionspartnerselskab  Cortex Park Vest 3 5230 Odense M 2025-01-01 2025-12-31 2024-01-01 2024-12-31 40101578 Unicontrol ApS Svendborgvej  226, 1. 5260 Odense S 2018-12-05 Odense EY Godkendt Revisionspartnerselskab 30700228 Cortex Park Vest  3 5230 Odense M Danmark +45 73 23 30 00 2026-04-17 Martin Høpfner Kirkmand Regnskabsklasse C, mellemstor virksomhed Revisionspåtegning Grundlag for konklusion Konklusion true 2026-04-17 2026-04-17 CaseWare Working Papers Today, the Board of Directors and the Executive Board have discussed and approved the annual report of Unicontrol ApS for the financial year 1 January - 31 December 2025. 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 financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025. Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. Odense Martin Høpfner Kirkmand Drew Ladau Chairman Martin Høpfner Kirkmand Jeffrey Dawson To the shareholders of Unicontrol ApS We have audited the financial statements of Unicontrol ApS for the financial year 1 January - 31 December 2025,  which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025 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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe 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. 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 as to 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 the 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 contents of the financial statements, including the note 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 for­ming 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. 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 audit of the financial statements, our responsibility 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 our knowledge obtained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether the 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 Statement Act. We did not identify any material misstatement of the Management's review. Odense Søren Smedegaard Hvid State Authorised Public Accountant mne31450 106164107 70997519 30008526 18733717 16592489 8285920 -994373 -765087 -862552 -995369 -385970 14260479 13051920 6656171 67005175 40625332 24282002 1334272 40246 209729 1254764 319821 39708128 25447649 12395729 27.9 22.8 17.6 23.4 27.6 65.9 62.3 52.5 59.0 51.7 39.2 37.8 34.8 51.1 51.5 45.8 44.1 43.8 69.0 75.1 41 29 16 For terms and definitions, please see the accounting policies. The objective of the Company is development, operation and sales of softwarebased serviced and related business. The income statement for 2025 shows a profit of DKK 32,572,754 against a profit of DKK 23,803,104 last year, and the balance sheet at 31 December 2025 shows equity of DKK 73,829,094.  No events materially affecting the Company's financial position have occurred subsequent to the financial year-end. The Company’s revenue for 2026 is expected to increase by approx. 20-25% due to the continued growth in the Company’s core markets in Europe. On this basis, a turnover in the range of DKK 185 – 192 million is expected for 2026 with a positive result of DKK 15-18 million. The expectations are based on the assumption that the exchange rates for the currencies to which the Company is exposed will remain unchanged. The growth is based on the expected positive effect of the strategic initiatives.Cash generated from operations in 2026 is expected to be positive as a result of the expected profit growth. 153851872 137429182 56261933 53385225 -21855944 -20206610 18093979 18689038 101351904 85561529 43000253 42837436 15454270 11406138 42897381 31317955 0 57638 1136761 462476 2131134 1285201 41903008 30552868 9330254 6749764 32572754 23803104 38079971 31222185 38079971 31222185 597378 283105 944347 380460 1541725 663565 581451 193277 581451 193277 40203147 32079027 26037448 20004794 116749 0 26154197 20004794 10050543 11946489 7036000 0 0 179548 1346099 1918245 18432642 14044282 35523098 32599025 80109937 66648101 120313084 98727128 47059 47059 0 0 29702377 24353304 0 0 32079658 43855977 12000000 0 73829094 68256340 4720443 6812479 4720443 6812479 54243 73739 12212969 4871484 252053 0 0 4532026 11422290 0 3389184 3056436 14432808 11124624 41763547 23658309 41763547 23658309 120313084 98727128 47059 138656 17175726 926419 21420268 0 0 -138656 0 138656 0 0 4745108 0 7177578 0 16625526 0 0 -926419 926419 0 47059 0 24353304 0 43855977 0 0 5349073 0 -11776319 12000000 47059 0 29702377 0 32079658 12000000 The annual report of Unicontrol ApS for 2025 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to medium-sized reporting class C entities. The accounting policies used in the preparation of the financial statements are consistent with those of last year. With reference to section 86(4) of the Danish Financial Statements Act, no cash flow statement is prepared for the parent company, as its cash flows are reflected in the consolidated cash flow statement. Reporting currencyThe financial statements are presented in Danish kroner (DKK). On initial recognition, transactions denominated in foreign currencies are translated at the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses.Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rate at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the most recent financial statements is recognised in the income statement as financial income or financial expenses. The Company has chosen IAS 11/IAS 18 as interpretation for revenue recognition.Income from the sale of goods for resale and finished goods is recognised in revenue when the most significant rewards and risks have been transferred to the buyer and provided the income can be measured reliably and payment is expected to be received.Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in revenue. Work performed on own account and risk and recognised as assets includes staff costs regarding work performed in the financial year in relation to the construction of one or more assets recognised in the balance sheet. Raw materials and consumables include expenses relating to raw materials and consumables used in generating the year's revenue. Other external expenses include the year's expenses relating to the Company's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc. Staff costs comprise wages and salaries, including holiday allowance and pensions, and other social security costs, etc., for the Company's employees. The item comprises amortisation/depreciation of intangible assets and property, plant and equipment.The basis of amortisation/depreciation, which is calculated as cost less any residual value, is amortised/depreciated on a straight line basis over the expected useful life. The expected useful lives of the assets are as follows:Completed development projects 5 years Fixtures and fittings, other plant and equipment 1-5 yearsLeasehold improvements 2-5 years The income statement includes the proportional share of the underlying companies' profit or loss after elimination of internal profit/loss and after tax. In group entities, the full elimination of internal profit and loss is carried out without regard to ownership shares. Financial income and expenses are recognised in the income statements at the amounts that concern the financial year. Net financials include interest income and expenses as well as allowances and surcharges under the advance-payment-of-tax scheme, etc. Tax for the year includes current tax on the year's expected taxable income and the year's deferred tax adjustments. The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement, whereas the portion that relates to transactions taken to equity is recognised in equity. Development costs comprise expenses, salaries and amortisation directly or indirectly attributable to development activities.Development projects that are clearly defined and identifiable, where the technical feasibility, sufficient resources and a potential future market or development opportunities areidentifiable and where the Company intends to produce, market or use the project, are recognised as intangible assets provided that the cost can be measured reliably and that there is sufficient assurance that future earnings can cover production costs, selling costs and administrative expenses and development costs. Other development costs are recognised in the income statement as incurred.Development costs that are recognised in the balance sheet are measured at cost less accumulated amortisation and impairment losses.On completion of a development project, development costs are amortised on a straight-line basis over the estimated useful life. The amortisation period is usually 5 years. Property, plant and equipmentItems of property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes the acquisition price and costs directly related to the acquisition until the time at which the asset is ready for use. The Company has chosen IAS 17 as interpretation for classification and recognition of leases. Equity investments in group entities, associates and participating interests are measured according to the equity method.On initial recognition, equity investments in group entities, associates and participating interests are measured at cost, i.e. plus transaction costs. The cost is allocated in accordance with the acquisition method; see the accounting policies regarding business combinations.Identified increases in value and goodwill, if any, compared to the underlying entity's net asset value are amortised in accordance with the accounting policies for the assets and liabilities to which they can be attributed. Negative goodwill is recognised in the income statement.Dividend received is deduced from the carrying amount.Equity investments in group entities, associates and participating interests measured at net asset value are subject to impairment test requirements if there is any indication of impairment. The carrying amount of intangible assets and property, plant and equipment is assessed for impairment on an annual basis. Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount). The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life.Previously recognised impairment losses are reversed when the reason for recognition no longer exists. Inventories are measured at cost in accordance with the FIFO method. Where the net realisable value is lower than cost, inventories are written down to this lower value. The net realisable value of inventories is calculated as the sales amount less costs of completion and expenses required to effect the sale and is determined taking into account marketability, obsolescence and development in the expected selling price.The cost of raw materials and consumables comprises the cost of acquisition plus delivery costs.Goods for resale are measured at cost, which comprises the cost of acquisition plus delivery costs as well as other expenses directly attributable to the acquisition. The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables.Receivables are measured at amortised cost.An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis.Receivables in respect of which there is no objective evidence of individual impairment are tested for objective evidence of impairment on a portfolio basis. The portfolios are primarily based on the debtors' domicile and credit ratings in line with the Company's risk management policy. The objective evidence applied to portfolios is determined based on historical loss experience.Impairment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate. Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years. Cash comprise cash and short term securities which are readily convertible into cash and subject only to minor risks of changes in value. Reserve for development costsThe reserve for development costs comprises recognised development costs. The reserve cannot be used to distribute dividend or cover losses. The reserve will be reduced or dissolved if the recognised development costs are amortised or are no longer part of the Company's operations by a transfer directly to the distributable reserves under equity.Proposed dividendsDividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Provisions comprise anticipated expenses relating to warranty commitments, onerous contracts, restructurings, etc. Provisions are recognised when the Company has a legal or constructive obligation at the balance sheet date as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation.Provisions are measured at net realisable value or at fair value if the obligation is expected to be settled far into the future. Current tax payables and receivables are recognised in the balance sheet as the estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account.Deferred tax is measured according to the liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is not deductible for tax purposes and on office premises and other items where temporary differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for the year or taxable income. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on Management's intended use of the asset or settlement of the liability, respectively.Deferred tax is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax assets are recognised at the expected value of their utilisation; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Changes in deferred tax due to changes in the tax rate are recognised in the income statement. Other payablesOther payables are measured at net realisable value. Deferred incomeDeferred income recognised as a liability comprises payments received concerning income in subsequent financial reporting years. The financial ratios stated under "Financial highlights" have been calculated as follows:Operating profit/loss Profit/loss before net financials +/- Other operating income and other operating expensesOperating margin Operating profit/loss (EBIT) x 100RevenueGross margin Gross profit/loss x 100RevenueReturn on assets Profit/loss from operating activities x 100Average assetsReturn on equity Profit/loss after tax x 100Average equity No events materially affecting the Company's financial position have occurred subsequent to the financial year-end. 36383602 35358858 4448941 5141712 536050 478605 1631660 1858261 43000253 42837436 55 52 By reference to section 98b(3), (ii), of the Danish Financial Statements Act, remuneration to Management is not disclosed. 11422290 4756026 -2092036 1993738 12000000 0 27000000 0 5349073 7177578 -11776319 16625526 55022921 21855944 76878865 23800736 14998158 38798894 38079971 Completed development projects Completed development projects comprise of development cost for new technology and products. The recognition of the development projects has been made on the basis of sales forecast. Management expects significant growth and sales within few years. Management has not identified any indication of impairment in relation to the carrying amount of the system. 886367 938194 564062 770210 1450429 1708404 603262 557734 249789 206323 853051 764057 597378 944347 Note15provides more details on security for loans, etc. as regards property, plant and equipment. Prepayments include accrual of expenses relating to subsequent financial years, DKK 1,346 thousand. 100 A 85500 85500 Each A share carries five voting rights and each B share carries one voting right. 6812479 4818741 4720443 6812479 The provision for deferred tax primarily relates to timing differences in respect of intangible assets and property, plant and equipment. Deferred income consists of payments received from customers that may not be recognised until the subsequent financial year. Other debt consists of VAT due as well as salary-related debt. Rent and lease liabilities includes obligations totalling DKK 4,140 thousand in interminable rent and lease agreements with remaining contract terms of 7-39 months. The Company has, as part of its normal course of business, entered into customary executory contracts. As security for the Company's debt to banks, the Company has provided security or other collateral in its assets for a total amount of DKK 3,000,000. The total debt to banks secured by these assets is DKK 0 as of 31 December 2025. Parties exercising control Related partyDomicileBasis for control Unicontrol Holdings ApSSvendborgvej 226, 1., Lindved, 5260 Odense SParticipating interest Spectra Precision International Holdings LimitedUnited Kingdom, LondonParticipating interest Information about consolidated financial statements ParentDomicileRequisitioning of the parent company's consolidated financial statements Unicontrol Holdings ApSSvendborgvej 226, 1., Lindved, 5260 Odense SCVR Related party transactions The Company solely discloses related party transactions that have not been carried out on an arm's length basis, cf. section 98c(6) of the Danish Financial Statements Act. All transactions have been carried out on an arm's length basis.