27229166 2025-01-01 2025-12-31 27229166 2025-01-01 2025-12-31 27229166 2025-01-01 2025-12-31 1 27229166 2025-01-01 2025-12-31 2 27229166 2025-01-01 2025-12-31 1 27229166 2025-01-01 2025-12-31 2 27229166 2025-01-01 2025-12-31 3 27229166 2025-01-01 2025-12-31 1 27229166 2025-01-01 2025-12-31 2 27229166 2025-01-01 2025-12-31 cmn:OtherRenderingOfReportedValueMember 27229166 2024-01-01 2024-12-31 cmn:OtherRenderingOfReportedValueMember 27229166 2023-01-01 2023-12-31 27229166 2022-01-01 2022-12-31 27229166 2021-01-01 2021-12-31 27229166 2025-01-01 2025-12-31 1973 27229166 2024-01-01 2024-12-31 1973 27229166 2023-01-01 2023-12-31 1973 27229166 2022-01-01 2022-12-31 1973 27229166 2021-01-01 2021-12-31 1973 27229166 2025-01-01 2025-12-31 382 27229166 2024-01-01 2024-12-31 382 27229166 2023-01-01 2023-12-31 382 27229166 2022-01-01 2022-12-31 382 27229166 2021-01-01 2021-12-31 382 27229166 2025-01-01 2025-12-31 27229166 2024-01-01 2024-12-31 27229166 2025-12-31 cmn:OtherRenderingOfReportedValueMember 27229166 2024-12-31 cmn:OtherRenderingOfReportedValueMember 27229166 2023-12-31 27229166 2022-12-31 27229166 2021-12-31 27229166 2025-01-01 2025-12-31 389 27229166 2024-01-01 2024-12-31 389 27229166 2023-01-01 2023-12-31 389 27229166 2022-01-01 2022-12-31 389 27229166 2021-01-01 2021-12-31 389 27229166 2024-01-01 2024-12-31 27229166 2025-12-31 27229166 2024-12-31 27229166 2025-01-01 iso4217:DKK xbrli:pure 2025-01-01 2025-12-31 2026-04-14 inforevision statsautoriseret revisionsaktieselskab 2860 Søborg Buddingevej 312 2024-01-01 2024-12-31 Molo A/S 27229166 Annual report Mogens Jepsen Molo A/S 27229166 Mogens Jepsen Finn Simper Jacob Benned Jensen Mogens Jepsen Rikke Bundgaard Jepsen Michael Dam-Johansen State Authorised Public Accountant Shpend Rasimi State Authorised Public Accountant  20252024202320222021 DKK'000DKK'000DKK'000DKK'000DKK'000Key fig­ures     Income state­ment     Gross profit/loss52.21549.75652.22443.58542.688EBITDA8.6487.8819.4224.9240EBIT7.4116.2387.4802.8723.669Net fin­an­ci­als-4.933-2.9763279384Profit/loss for the year2.6582.4846.6032.8203.702      Bal­ance sheet     Total assets166.415175.607168.595165.315136.108Inves­ted cap­ital129.772122.700119.584125.51892.629Equity82.06681.46177.70172.42166.255      Cash flows     Cash flow from operat­ing activ­it­ies4.408-3.90610.381-24.845-2.441Cash flow from invest­ing activ­it­ies-856-549-1.021-3.247-4.668Cash flow from fin­an­cing activ­it­ies-7.7694.31020540-1.878Cash flows for the year-4.218-1449.565-28.052445      Average num­ber of full-time employee7778585449      Ratios     Return on inves­ted cap­ital (%)5,9%5,2%6,1%2,6%2,7%Solvency ratio (%)49,3%46,4%46,1%43,8%48,7%Return on equity (%)3,3%3,1%8,8%4,1%5,8%      Ratios with neg­at­ive basis of cal­cu­la­tion have been presen­ted as (-).      Refer­ring to defin­i­tions in the account­ing policies, Key Fig­ures and Fin­an­cial Ratios are in all mater­ial aspects defined and cal­cu­lated in accord­ance with the online ver­sion of "Recom­mend­a­tions & Fin­an­cial Ratios" issued by the CFA Soci­ety Den­mark. 52.215 49.756 52.224 43.585 42.688 8.648 7.881 9.422 4.924 0.000 7.411 6.238 7.480 2.872 3.669 -4.933 -2.976 0.327 0.009 0.384 2.658 2.484 6.603 2.820 3.702 166.415 175.607 168.595 165.315 136.108 129.772 122.700 119.584 125.518 92.629 82.066 81.461 77.701 72.421 66.255 4.408 -3.906 10.381 -24.845 -2.441 -0.856 -0.549 -1.021 -3.247 -4.668 -7.769 4.310 0.205 0.040 -1.878 77 78 58 54 49 0.059 0.052 0.061 0.026 0.027 0.493 0.464 0.461 0.438 0.487 0.033 0.031 0.088 0.041 0.058 The com­pany's primary activ­it­ies include design and pro­duc­tion of chil­dren's cloth­ing and related ser­vices. Molo's jour­ney sprang out of curi­os­ity and a drive to rad­ic­ally change the exist­ing chil­dren's fash­ion world, which was, in 2003, less vibrant and col­or­ful. Since its con­cep­tion, Molo has seen its role as the brand that provides "favor­ites" for every child's closet.This concept has always been well accep­ted in the mar­ket­place and has given the com­pany a strong and sus­tain­able com­pet­it­ive advant­age.After sev­eral post-pan­demic years impacted by increased logistic and pro­duc­tion costs, 2025 developed dif­fer­ently than expec­ted. While topline per­form­ance remained rel­at­ively solid and the brand con­tin­ued to pos­i­tion itself strongly within afford­able lux­ury chil­drenswear, the global mar­ket envir­on­ment in 2025 was sig­ni­fic­antly dis­rup­ted. Trade ten­sions intens­i­fied through­out the year, and new tar­iff struc­tures and shift­ing U.S. trade policies under the cur­rent admin­is­tra­tion intro­duced con­sid­er­able uncer­tainty, par­tic­u­larly for sup­pli­ers and whole­sale part­n­ers reli­ant on North American mar­kets. These changes cre­ated delays, addi­tional costs, and mar­gin pres­sure across the value chain. Bey­ond the United States, con­tin­ued geo­pol­it­ical inst­a­b­il­ity in Europe and Asia led to reduced con­sumer con­fid­ence, cau­tious buy­ing pat­terns, and pro­longed sell-through cycles. Foot traffic in Molo’s own retail divi­sion in Den­mark, Sweden, France, and Ger­many remained under pres­sure, with phys­ical stores still chal­lenged by shifts toward e-com­merce and uneven regional demand. Des­pite this, the com­pany man­aged to main­tain accept­able earn­ings through effect­ive cost con­trol and select­ive cus­tomer part­n­er­ships.Net earn­ings for 2025 were below 2024 levels, not only due to weaker mar­ket condi­tions but also partly due to man­age­ment’s con­scious focus on long-term stra­tegic invest­ments, par­tic­u­larly in digital cap­ab­il­it­ies, brand mar­ket­ing, and grow­ing pres­ence in Asia. While these ini­ti­at­ives neg­at­ively impacted short-term profit, they are expec­ted to bene­fit the com­pany in the medium term.The ongo­ing shift between tra­di­tional brick-and-mor­tar stores and e-com­merce con­tin­ues to reshape the industry. To respond, the com­pany has main­tained a cau­tious and select­ive cus­tomer approach, which puts short-term pres­sure on the topline but is expec­ted to strengthen brand pos­i­tion­ing and prof­it­ab­il­ity over time. Addi­tional organ­iz­a­tional and opera­tional adjust­ments will be required in 2026 to ensure that these strategies are executed in a fin­an­ci­ally sound and sus­tain­able man­ner. Man­age­ment con­siders 2025’s fin­an­cial per­form­ance accept­able given the cir­cum­stances and views the year as an import­ant trans­itional period for the com­pany. How­ever, sig­ni­fic­ant uncer­tainty remains for 2026, driven by geo­pol­it­ical inst­a­b­il­ity, trade bar­ri­ers, tar­iff struc­tures, and uneven global con­sumer sen­ti­ment. Des­pite these chal­lenges, man­age­ment remains con­fid­ent that 2026 will yield an accept­able profit level. The com­pany did not fully achieve its profit fore­cast for 2025 due to external mar­ket condi­tions and increased trade-related costs. How­ever, topline was largely in line with expect­a­tions con­sid­er­ing the global envir­on­ment. Stra­tegic invest­ments were delib­erately main­tained des­pite short-term impact on earn­ings. Exchange rate risks: The com­pany uses fin­an­cial instru­ments to counter fluc­tu­a­tions in exchange rates. Pro­duc­tion cost/condi­tions: It is expec­ted that pro­duc­tion costs in gen­eral will increase in the com­ing years. The group, how­ever, has ini­ti­ated a num­ber of ini­ti­at­ives to meet this devel­op­ment. The group has a restrict­ive con­trol and man­age­ment of its sup­pli­ers to min­im­ize dam­age to the external envir­on­ment. The com­pany does not use essen­tial know­ledge resources that are of import­ance to the future earn­ings. In 2017 the com­pany ini­ti­ated a Cli­mate Mis­sion State­ment that includes but is not lim­ited to con­sid­er­ing all aspects of the pro­duc­tion of chil­dren’s cloth­ing, some­thing for which the fol­low­ing cer­ti­fic­a­tions are an import­ant part. The com­pany is GOTS, OCS and GRS cer­ti­fied (Cer­ti­fied by Eco­cert Green­life, cer­ti­fic­a­tion no. 197496), whereby being a GOTS, OCS and GRS cer­ti­fied com­pany means that the com­pany highly val­ues more respons­ible mater­i­als and pro­cesses. The com­pany con­tin­ues to see not­able pos­it­ive effects on and from prior years’ invest­ments in more respons­ible practices, with a high and increas­ing num­ber of gar­ments now being cer­ti­fied. With the COVID-19 pan­demic no longer an issue, the com­pany remains con­cerned about energy prices, per­s­ist­ent infla­tion, con­tin­ued geo­pol­it­ical con­flicts, and ongo­ing trade and tar­iff ten­sions involv­ing the U.S. and other major mar­kets. These fact­ors have the poten­tial to dis­rupt busi­ness opera­tions and impact the com­pany’s abil­ity to main­tain accept­able profit levels. How­ever, man­age­ment still expects the com­pany to achieve an accept­able level of rev­enue and earn­ings in 2026. No events have occurred sub­sequent to the bal­ance sheet date which would have a mater­ial impact on the fin­an­cial pos­i­tion of the com­pany. The Board of Dir­ect­ors and The Exec­ut­ive Board have today con­sidered and adop­ted the annual report for 1 Janu­ary 2025 - 31 Decem­ber 2025 for Molo A/S. Molo A/S 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 2025 and of the res­ults of its opera­tions and cash flows for the fin­an­cial year 1 Janu­ary 2025 - 31 Decem­ber 2025. 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. Mogens Jepsen Executive director Finn Simper Executive director Jacob Benned Jensen Board member Mogens Jepsen Board member Rikke Bundgaard Jepsen Chairman To the share­holder's in Molo A/S Molo A/S Opinion We have audited the fin­an­cial state­ments of Molo A/S for the fin­an­cial year 1 Janu­ary 2025 - 31 Decem­ber 2025, 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 2025 and of the res­ults of the com­pany's opera­tions and cash flows for the fin­an­cial year 1 Janu­ary 2025 - 31 Decem­ber 2025 in accord­ance with the Dan­ish Fin­an­cial State­ments Act. Molo A/S Basis for Opinion 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.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 for pur­poses of the audit. 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 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. Søborg 2026-04-14 inforevision statsautoriseret revisionsaktieselskab inforevision statsautoriseret revisionsaktieselskab 19263096 19263096 Michael Dam-Johansen State Authorised Public Accountant mne36161 Shpend Rasimi State Authorised Public Accountant mne47779 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-size enterprise.The account­ing policies have not been changed from last year. Reporting class C, medium-size enterprise Con­sol­id­ated fin­an­cial state­ments has not been pre­pared in accord­ance with the Dan­ish Fin­an­cial State­ment Act sec­tion 112 due to the com­pany is included in the con­sol­id­ated fin­an­cial state­ments for Mor­ilo Hold­ing ApS, Copen­ha­gen, CVR No.: 40 77 65 24. 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.Deriv­at­ives used for hedge account­ing are recog­n­ised at fair value at the report­ing date and revalu­a­tions are recog­n­ised dir­ectly at Equity. Fair value arising from hedge account­ing are recog­n­ised as either Other receiv­ables or Other short-term liab­il­it­ies. On ini­tial recog­n­i­tion in the bal­ance sheet, deriv­at­ive fin­an­cial instru­ments are meas­ured at cost and sub­sequently at fair value. Deriv­at­ive fin­an­cial instru­ments are recog­n­ised under other receiv­ables or other pay­ables.Changes in the fair value of deriv­at­ive fin­an­cial instru­ments clas­si­fied as and meet­ing the cri­teria for hedging the fair value of a recog­n­ised asset or a recog­n­ised liab­il­ity are recog­n­ised in the income state­ment together with changes in the fair value of the hedged asset or the hedged liab­il­ity. Changes in the fair value of deriv­at­ive fin­an­cial instru­ments clas­si­fied as hedging of future cash flows are recog­n­ised in other receiv­ables or other pay­ables, and in equity. If the future trans­ac­tion res­ults in the recog­n­i­tion of assets or liab­il­it­ies, amounts pre­vi­ously recog­n­ised in equity are trans­ferred to the cost of the asset or the liab­il­ity, respect­ively. If the future trans­ac­tion res­ults in income or costs, amounts recog­n­ised in equity on a con­tinu­ing basis are trans­ferred to the income state­ment for the period in which the hedged item affected the income state­ment. Deriv­at­ive fin­an­cial instru­ments not meet­ing the cri­teria for hedging of future cash flows, changes in the fair value is recog­n­ised in the income state­ment Gross profit/loss includes "Rev­enue""Cost of sales""Other operat­ing income""External expenses". Rev­en­ues from sale of goods are recog­n­ised in the income state­ment when the bene­fits and risk are trans­ferred to the buyer, rev­en­ues can be meas­ured reli­ably and it is prob­able that the eco­nomic bene­fits will flow to the com­pany (col­lect­ab­il­ity is prob­able). Rev­enue is meas­ured at fair value excl. VAT and less gran­ted dis­counts. Cost of sales com­prise expenses incurred to earn rev­enue for the year includ­ing changes in goods for resale, raw mater­i­als and con­sum­ables used as well as pack­aging in the year. Other operat­ing income com­prises income of a sec­ond­ary nature as viewed in rela­tion to the com­pany's primary activ­it­ies, includ­ing trans­fer pri­cing pay­ments received from public author­it­ies as well as profit on sale of fixed assets. External expenses com­prises Selling costsCost of premisesAdmin­is­trat­ive 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. Income from invest­ments in group enter­prises com­prises the pro rata share of the group enter­prises’ profit/loss adjus­ted for internal profits and losses less amort­isa­tion of good­will on con­sol­id­a­tion for the year. Fin­an­cial income is recog­n­ised with amounts con­cern­ing the fin­an­cial year. Fin­an­cial items com­prise interest, real­ised and unreal­ised exchange gains and losses, amort­isa­tion of debt to mort­gage credit insti­tu­tions as well as interest sur­charge and interest reim­burse­ments under the Dan­ish Tax Pre­pay­ment Scheme. Fin­an­cial expenses is recog­n­ised with amounts con­cern­ing the the fin­an­cial year. inan­cial items com­prise interest, real­ised and unreal­ised exchange gains and losses, amort­isa­tion of debt to mort­gage credit insti­tu­tions as well as interest sur­charge and interest reim­burse­ments 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. Intan­gible assets are meas­ured at cost less accu­mu­late amort­isa­tion. 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.Devel­op­ment pro­jects in pro­gress are trans­ferred to com­pleted devel­op­ment pro­jects when the asset is ready to be put into opera­tion. Assets are amort­ised on a straight-line basis over their estim­ated use­ful lives: Cat­egory Period Acquired licences 5 - 8 years Good­will 3-10 years Devel­op­ment pro­jects in pro­gress are not amort­ised.Determ­ine the amort­isa­tion period for good­will is based on an assess­ment of the acquired enter­prises' or busi­ness' mar­ket pos­i­tion, earn­ings as well as expec­ted cus­tomer loy­alty, which to the highest pos­s­ible extent is based on his­t­or­ical recor­ded data.As the intan­gible assets are not being traded in an act­ive and effect­ive mar­ket, no resid­ual val­ues after end of use are included when determ­in­ing the amort­isa­tion period.Profit/loss on sale has been included in the income state­ment under gross profit or loss and other operat­ing expenses.The car­ry­ing amounts of intan­gible assets are reviewed annu­ally for indic­a­tion of impair­ment for losses, apart from what is expressed by usual amort­isa­tion. 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. 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 Lease­hold improve­ments 3 - 10 years 0 - 40% Fix­tures, fit­t­ings, tools and equip­ment 3 - 10 years 0 - 40% 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 gross profit or loss 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. Prop­erty, plant and equip­ment that are assets held under lease and meet the condi­tions for fin­an­cial leas­ing are accoun­ted for accord­ing to the same guidelines as owned assets. Assets held under lease are recog­n­ised in the bal­ance sheet at the lower of fair value and present value of the future lease pay­ments. On cal­cu­la­tion of the present value, the internal interest rate of the lease is applied as dis­count factor or an approx­im­ate value thereof. Assets held under fin­ance lease are depre­ci­ated and writ­ten down accord­ing to the same policies as are determ­ined for the Com­pany's remain­ing fixed assets. The cap­it­al­ised remain­ing lease com­mit­ment is recog­n­ised in the bal­ance sheet as a liab­il­ity other than pro­vi­sions, and the interest por­tion of lease pay­ments is recog­n­ised over the term of the lease in the income state­ment. Remain­ing leases are con­sidered operat­ing lease. Pay­ments in rela­tion to operat­ing lease are recog­n­ised on a straight-line basis in the income state­ment over the term of the lease. Invest­ments in group enter­prises have been recog­n­ised accord­ing to the equity method. This means that invest­ments are meas­ured at the pro rata share of the group enter­prises' net asset value adjus­ted for internal dividends and profit or losses.Dis­trib­ut­able reserves in group enter­prises which are dis­trib­uted as dividends to the par­ent at the bal­ance sheet date are included in the value of invest­ments.Group enter­prises with neg­at­ive net asset val­ues are meas­ured at zero, and any receiv­able from such enter­prises is writ­ten down by the Par­ent's share of the neg­at­ive net asset value to the extend deemed irre­cover­able. If the neg­at­ive net asset value exceeds the amount receiv­able, the remain­ing amount is recog­n­ised in pro­vi­sions to the extent the Par­ent has a legal or con­struct­ive oblig­a­tion to cover the rel­ev­ant enter­prise's liab­il­it­ies.Acquis­i­tion of group enter­prises are recog­n­ised at cost. The dif­fer­ence between the cost price and the net asset value of the acquired com­pany, which appears at the time of est­ab­l­ish­ing the con­sol­id­a­tion, is as far as pos­s­ible alloc­ated to the assets and liab­il­it­ies whose value is higher or lower than the car­ry­ing amount. A remain­ing pos­it­ive dif­fer­ence is treated as good­will and included in the value of invest­ments.A neg­at­ive dif­fer­ence, reflect­ing an expec­ted cost or an unfa­vour­able devel­op­ment, are recog­n­ised as income in the income state­ment in the year of acquis­i­tion.Good­will is amort­ised in the income state­ment over 5 years. The amort­isa­tion period is based on an assess­ment of the mar­ket pos­i­tion, earn­ings pro­file, and expect­a­tions of cus­tomers loy­al­ity, which within reas­on­able lim­its is based on his­t­or­ical data/regis­tra­tions. Amort­isa­tions are recog­n­ised in the income state­ment with other value adjust­ments in the item income from invest­ments in group enter­prises. The total net revalu­a­tion of invest­ments in group enter­prises is alloc­ated through the profit or loss dis­tri­bu­tion to "Reserve for net revalu­a­tion accord­ing to the equity method" under equity. The reserve is reduced by dividend dis­tri­bu­tions to the Par­ent and is adjus­ted by changes in equity in the group enter­prises. 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 deliv­ery costs. Cost of man­u­fac­tured goods and work in pro­gress con­sists of costs of raw mater­i­als, con­sum­ables, dir­ect labour costs and other dir­ect costs. The net real­is­able value of invent­or­ies is cal­cu­lated at the estim­ated selling price less com­ple­tion costs and expec­ted costs to execute sale. The net real­is­able value is determ­ined allow­ing for mar­ket­ab­il­ity, obsol­es­cence and devel­op­ment in expec­ted sales price.Pre­pay­ments to sup­pli­ers regard­ing non delivered goods are recog­n­ised as a sep­ar­ate item under invent­or­ies. 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. Reserve for net revalu­a­tion accord­ing to equity method com­prise net revalu­a­tion in group enter­prises, asso­ci­ates and par­ti­cip­at­ing interests. The reserve is reduced by dividend dis­trib­uted to the Par­ent and adjus­ted for other equity move­ments in the group enter­prises, asso­ci­ates and par­ti­cip­at­ing interests. The reverse may be elim­in­ated with neg­at­ive retained earn­ings. The reserve is reduced or dis­solved when divest­ing the group enter­prises, asso­ci­ates and par­ti­cip­at­ing interests.Reserve for devel­op­ment expendit­ure com­prise cap­it­al­ised devel­op­ment expenses from 1 Janu­ary 2016. The reserve can­not be used for dividends or for elim­in­a­tion of neg­at­ive retained earn­ings. The reserve is reduced or dis­solved due to amort­isa­tion or divest­ment by trans­fer­ring the amount from the reserve to retained earn­ings.Reserve for cur­rent value of hedging com­prise accu­mu­late fair value adjust­ments of deriv­at­ive fin­an­cial instru­ments recog­n­ised dir­ectly to equity. At the point in time of real­isa­tion of the deriv­at­ive fin­an­cial instru­ment, the accu­mu­late fair value adjust­ment recog­n­ised in the reserve are trans­ferred to the income state­ment together with the profit or loss on the real­isa­tion. 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.The com­pany is jointly taxed with other Dan­ish group enter­prises with Mor­ilo Hold­ing ApS as Man­age­ment com­pany. The tax effect of the joint tax­a­tion is alloc­ated among the group enter­prises in ratio to their tax­able income accord­ing to the rules on full alloc­a­tion with a refund for tax losses of the Dan­ish Cor­por­a­tion Tax Act. Joint tax con­tri­bu­tions between the jointly taxed com­pan­ies which have not been settled at the bal­ance sheet date are clas­si­fied as joint tax con­tri­bu­tions in receiv­ables or liab­il­it­ies other than pro­vi­sions. Pro­vi­sions are recog­n­ised when - as a con­sequence of an event occurred before or on the bal­ance sheet date - a legal or con­struct­ive oblig­a­tion exist and it is prob­able that eco­nomic bene­fits must be given up to settle the oblig­a­tion. Pro­vi­sions are meas­ured at net present value. Fin­an­cial debts are recog­n­ised ini­tially at the pro­ceeds received net of trans­ac­tion expenses incurred, which are dir­ectly related with the loan. In sub­sequent years, fin­an­cial debts are meas­ured at amort­ised cost equal to the cap­it­al­ised value using the effect­ive interest rate. The dif­fer­ence between the pro­ceeds and the nom­inal value is recog­n­ised in the income state­ment over the loan period. Short-term debts are meas­ured at amort­ised cost, sub­stan­tially cor­respond­ing to nom­inal value. Deferred income com­prise income received relat­ing to sub­sequent fin­an­cial years. 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 and cash equi­valents as well as operat­ing cred­its at credit insti­tu­tions included in the cash man­age­ment and are thus exposed to sig­ni­fic­ant changes in both pos­it­ive and neg­at­ive dir­ec­tions dur­ing the year. 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 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. 52215209 49755662 42920793 41874358 1237046 1643673 646006 0 7411364 6237631 -2952289 -239831 1286823 1959927 3267306 4696215 2478592 3261512 -179654 777271 2658246 2484241 0 80000 929732 0 929732 80000 248789 368776 881947 1934606 1130736 2303382 7749740 12119990 3204084 3261966 10953824 15381956 13014292 17765338 83253502 90025812 5030026 4829405 88283528 94855217 37425679 35988912 17686814 16013217 340654 2030876 306306 0 310345 38194 2152311 722119 58222109 54793318 6895175 8193073 153400812 157841608 166415104 175606946 500000 500000 6720502 8317363 725191 0 153168 1567104 73967521 71076447 82066382 81460914 501007 195790 501007 195790 2626290 2533552 2626290 2533552 63234811 61103158 11634866 15528916 2213506 8309252 0 1177860 3527242 4203504 611000 1094000 81221425 91416690 83847715 93950242 166415104 175606946  Con­trib­uted cap­italReserve for net revalu­a­tion accord­ing to equity methodReserve for devel­op­ment expendit­ureReserve for cur­rent value of hedgingRetained earn­ingsTotal DKKDKKDKKDKKDKKDKK       Equity at 1 Janu­ary 2024500.0007.209.5790537.92969.453.78477.701.292Dis­trib­uted profit/loss for the year 861.578  1.622.6632.484.241Equity trans­ac­tions in group enter­prises 246.206 00246.206Adjust­ment of cur­rent value of hedging   1.319.455 1.319.455Tax on equity trans­ac­tions 0 -290.280 -290.280Equity at 1 Janu­ary 2025500.0008.317.36301.567.10471.076.44781.460.914Dis­trib­uted profit/loss for the year -958.019  3.616.2652.658.246Trans­ferred to reserve for devel­op­ment expendit­ure for the year  725.191 -725.1910Equity trans­ac­tions in group enter­prises -638.842 00-638.842Adjust­ment of cur­rent value of hedging   -1.812.739 -1.812.739Tax on equity trans­ac­tions 0 398.8030398.803Equity at 31 Decem­ber 2025500.0006.720.502725.191153.16873.967.52182.066.382 861578 -958019 1237046 1643673 4419493 4027998 -6571689 310421 -1436767 -10590773 3894050 -4422878 -2877334 -1839883 750056 418736 3020751 4162043 0 0 4407628 849732 80000 64400 274870 77057 194370 134939 0 -856250 0 0 7769343 -4310349 -7769343 -4217965 788414 -310862 -56339636 63234811 61103158 -56339636     20252024 DKKDKK   Debt for­give­ness from related parties3.920.1180Total3.920.1180   Spe­cial items is included in other operat­ing income which is included in the gross profit.       20252024 DKKDKK   Wages and salar­ies40.021.83039.158.683Pen­sions 2.271.3282.104.873Other social secur­ity costs627.635610.802Total42.920.79341.874.358   Average num­ber of full-time employ­ees7778   Remu­nera­tion for man­age­ment cat­egor­ies:  Exec­ut­ive Board1.570.0001.610.000Board of dir­ect­ors1.900.0001.920.000       40021830 39158683 2271328 2104873 627635 610802 77 78  20252024 DKKDKK   Fin­an­cial income from group enter­prises536.767852.715Other fin­an­cial income750.0561.107.212Total1.286.8231.959.927 536767 852715 750056 1107212  20252024 DKKDKK   Fin­an­cial expenses to group enter­prises246.555534.172Other fin­an­cial expenses3.020.7514.162.043Total3.267.3064.696.215 246555 534172 3020751 4162043       Joint tax con­tri­bu­tionDeferred taxTax on profit/loss for the year2024 DKKDKKDKKDKK     Pay­ables at 1 Janu­ary 20251.177.860-38.194  Paid in respect of pre­vi­ous years-1.177.860   Tax on profit/loss for the year-306.306-272.151-578.4571.067.551Pay­ables at 31 Decem­ber 2025-306.306-310.345  Tax regard­ing hedging taken into equity  398.803-290.280Tax on profit/loss for the year recog­n­ised in the income state­ment  -179.654777.271     Recog­n­i­tion in bal­ance sheet:    Short-term receiv­ables (cur­rent asset)-306.306-310.345  Total-306.306-310.345       Deferred tax is incum­bent upon the fol­low­ing assets and liab­il­it­ies:   31‑12‑2025 31‑12‑2024   DKKDKK     Intan­gible assets  17.60017.600Prop­erty, plant and equip­ment  -327.945-55.794Deferred tax liab­il­ity (+)/Deferred tax asset (-)  -310.345-38.194     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. 3616265 1622663  Devel­op­ment pro­jects in pro­gressTotal2024 DKKDKKDKK    Cost at 1 Janu­ary 202580.00080.0000Addi­tions for the year849.732849.73280.000Cost at 31 Decem­ber 2025929.732929.73280.000    Car­ry­ing amount at 31 Decem­ber 2025929.732929.73280.000    Devel­op­ment pro­jects con­sist of devel­op­ing a new web­s­ite to be used for online sales, etc. The web­s­ite is expec­ted to be com­pleted in early 2026 and to be put into use dur­ing the com­ing fin­an­cial year.   Lease­hold improve­mentsFix­tures, fit­t­ings, tools and equip­mentTotal2024 DKKDKKDKKDKK     Cost at 1 Janu­ary 2025792.6174.441.6335.234.2507.689.902Addi­tions for the year64.400064.400274.870Dis­pos­als for the year0-802.636-802.636-2.730.522Cost at 31 Decem­ber 2025857.0173.638.9974.496.0145.234.250     Depre­ci­a­tion and impair­ment losses at 1 Janu­ary 2025-423.840-2.507.028-2.930.868-4.017.715Depre­ci­a­tion for the year-184.388-1.052.658-1.237.046-1.643.675Reversal regard­ing dis­pos­als for the year0802.636802.6362.730.522Depre­ci­a­tion and impair­ment losses at 31 Decem­ber 2025-608.228-2.757.050-3.365.278-2.930.868     Car­ry­ing amount at 31 Decem­ber 2025248.789881.9471.130.7362.303.382  Invest­ments in group enter­prisesDepos­itsTotal2024 DKKDKKDKKDKK     Cost at 1 Janu­ary 20252.138.3123.261.9665.400.2784.707.657Adjust­ments begin­n­ing of the year0-134.939-134.939498.251Addi­tions for the year077.05777.057194.370Dis­pos­als for the year-1.109.0740-1.109.0740Cost at 31 Decem­ber 20251.029.2383.204.0844.233.3225.400.278     Revalu­a­tions at 1 Janu­ary 20259.981.678 9.981.6788.809.238Exchange rate adjust­ments-788.414 -788.414310.862Dis­pos­als through busi­ness com­bin­a­tions-2.847.346 -2.847.3460Revalu­a­tions for the year374.584 374.584861.578Revalu­a­tions at 31 Decem­ber 20256.720.502 6.720.5029.981.678     Car­ry­ing amount at 31 Decem­ber 20257.749.7403.204.08410.953.82415.381.956           Accord­ing to annual reportMolo A/S' share Equity interestCon­trib­uted cap­italProfit/loss for the yearEquityShare of profit/loss for the yearShare of equity   DKKDKKDKKDKK       Molo Kids Nor­way AS, Oslo100%67.37926.8581.068.25226.8581.068.252Molo Kids UK Ltd., Lon­don100%85775.0021.543.21375.0021.543.213Molo NL B.V., Ams­ter­dam100%7.46961.810502.80561.810502.805Molo France SARL, Paris100%186.723-1.569-696.308-1.569-696.308Molo US Inc., Delaware100%476.453-51.4404.523.926-51.4404.523.926Molo Ger­many GmbH, Ham­burg100%186.723152.376-188.891152.376-188.891Molo A/S LTD, Mil­ano100%0111.547111.547111.547111.547       Total    374.5846.864.544Other adjust­ments, Molo France SARL and Molo Ger­many GmbH 0885.196Total    374.5847.749.740Con­sid­era­tion    -2.217.799 Car­ry­ing amount, dis­pos­als    -1.109.074 Total    -2.952.2897.749.740       The com­pany's group enter­prises Molo France SARL and Molo Ger­many GmbH are recog­n­ised at zero due to neg­at­ive net asset value.       Recog­n­i­tion in bal­ance sheet:      Invest­ments in group enter­prises     7.749.740Total     7.749.740 Molo A/S  20252024 DKKDKK   Pre­paid rent641.235673.169Pre­paid mar­ket­ing and IT1.496.6190Other pre­paid expenses14.45748.950Total2.152.311722.119   20252024  DKKDKK    Contributed capital beginning of the year 500.000500.000Total 500.000500.000    The share cap­ital con­sist of 500.000 shares cer­ti­fic­ates of DKK 1 at 31 Decem­ber 2025. The share cap­ital is not divided into classes.   20252024 DKKDKK   Future return of goods sold501.007195.790I alt501.007195.790     31‑12‑202531‑12‑2024 DKKDKK   Liab­il­it­ies in total:  Other pay­ables2.626.2902.533.552Total2.626.2902.533.552   Cur­rent por­tion of non-cur­rent liab­il­it­ies:  Other pay­ables00Total00   Due bey­ond 5 years after the bal­ance sheet date:  Other pay­ables2.626.2902.533.552Total2.626.2902.533.552  20252024 DKKDKK   Rent discount611.0001.094.000Total611.0001.094.000 For­ward exchange con­tractFor­ward exchange trans­ac­tion agree­ment have been entered into to hedge future cash flows related to sales and pur­chashes of goods in USD. The com­pany sold EUR 3,679,310 and pur­chased USD for an equi­valent amount. The fin­an­cial con­tracts expire on a rolling basis between Janu­ary 2026 and Decem­ber 2026.   Interest rate swapThe com­pany has entered into the fol­low­ing deriv­at­ive fin­an­cial instru­ments regard­ing interest rate con­tracts: Interest rate swap agree­ments have been entered into to hedge future interest pay­ments on vari­ablerate loans. The agree­ments have a term of 4-10 years. All agree­ments expires on June 2027. Interest rate on CIBOR 3M is exchanged with fixed interest rates of 1,19 % - 2,19 %. All con­tracts entered into are with well-est­ab­l­ished banks as coun­ter­part. The com­pany has entered into deriv­ate fin­an­cial instru­ments to hedge dif­fer­ent kinds of risk. All con­tracts entered are with well-est­ab­l­ished banks and mar­ket val­ues for the instru­ment is determ­ine on basis of observ­able mar­ket data. The years changes in cur­rent value can be spe­cified as fol­lows:     For­ward exchange con­tracts:    Recog­n­i­tion in income state­ment of real­ised gains or losses regard­ing prior years change in cur­rent value of cash flow hedging recog­n­ised dir­ectly in the equity  DKK-151.032Cur­rent value at 31‑12‑2025  DKK196.244     Interest rate con­tract:    Recog­n­i­tion in income state­ment of real­ised gains or losses regard­ing prior years change in cur­rent value of cash flow hedging recog­n­ised dir­ectly in the equity  DKK-1.661.707Cur­rent value at 31‑12‑2025  DKK126       2025      Nom­inal value of the col­lat­eral/debtBooked value of assets depos­ited as secur­ity  DKK DKK     Float­ing charge registered to the mort­gagor in intan­gible assets, invent­or­ies, fixed assets and trade receiv­ables includ­ing other claims has been deposit as secur­ity for engage­ment with credit insti­tu­tion 45.000.000 126.591.154 Molo A/S are jointly taxed with other group com­pan­ies and are sev­erally liable for tax on the jointly taxed incomes etc. of the group. Moreover, the group com­pan­ies are jointly and sev­erally liable for Dan­ish with­hold­ing taxes by way of tax on interest, dividend tax and tax on roy­alty pay­ments. Any sub­sequent adjust­ments of cor­por­a­tion taxes and with­hold­ing taxes may increase the the com­pany's liab­il­ity.  Molo A/S has sub­mit­ted a let­ter of sup­port to Molo Ger­many GmbH and Molo Kids UK Ltd. grant­ing fin­an­cial and liquid­ity sup­port for the next fin­an­cial year. The equity cap­ital in the two com­pan­ies amounts to DKK 1.354.546 pr. 31.12.2025  The com­pany has provided guar­an­tees towards land­lords900.000 Molo A/S Molo A/S  2025 DKK  The com­pany has total lease liab­il­it­ies to year 2030746.000The com­pany has made a rent agree­ment pend­ing to the year 2027. The overall resid­ual rent agree­ment aggreg­ate approx.11.887.000Total rental and lease oblig­a­tions12.633.000 Related parties with con­trolling interest com­prise the fol­low­ing:   Con­trolling interest:Basis of con­trolling interest:  Mogens Jepsen Hold­ing ApS, GentofteMain share­holderMor­ilo Hold­ing ApS, GentofteOwner of Mogens Jepsen Hold­ing ApS  Mogens JepsenOwner of Mor­ilo Hold­ing ApSRikke Bundgaard JepsenOwner of Mor­ilo Hold­ing ApS  In accord­ance with sec­tion 98(c)(7) 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. The com­pany is included in the con­sol­id­ated report for the par­ent com­pan­ies:   The largest and smal­lest group:Mor­ilo Hold­ing ApS, Copen­ha­gen   -2952289 -239831 -1286823 -1959927 -3267306 -4696215 -179654 777271 -638842 246206 Revisionspåtegning 19263096 inforevision statsautoriseret revisionsaktieselskab Buddingevej 312 2860 Søborg 2026-04-14 2025-01-01 2025-12-31 2024-01-01 2024-12-31