40149112 2025-01-01 2025-12-31 40149112 2025-01-01 2025-12-31 2 40149112 2025-01-01 2025-12-31 1 40149112 2025-01-01 2025-12-31 1 40149112 2025-01-01 2025-12-31 2 40149112 2025-01-01 2025-12-31 3 40149112 2025-01-01 2025-12-31 4 40149112 2025-01-01 2025-12-31 5 40149112 2025-01-01 2025-12-31 6 40149112 2025-01-01 2025-12-31 1 40149112 2024-01-01 2024-12-31 40149112 2025-12-31 40149112 2024-12-31 40149112 2025-01-01 d:ContributedCapitalMember 40149112 2025-01-01 d:ReserveForDevelopmentExpenditureMember 40149112 2025-01-01 d:RetainedEarningsMember 40149112 2025-01-01 2025-12-31 d:ContributedCapitalMember 40149112 2025-01-01 2025-12-31 d:ReserveForDevelopmentExpenditureMember 40149112 2025-01-01 2025-12-31 d:RetainedEarningsMember 40149112 2025-12-31 d:ContributedCapitalMember 40149112 2025-12-31 d:ReserveForDevelopmentExpenditureMember 40149112 2025-12-31 d:RetainedEarningsMember 40149112 2025-01-01 d:CompletedDevelopmentProjectsMember 40149112 2025-12-31 d:CompletedDevelopmentProjectsMember 40149112 2025-01-01 2025-12-31 d:CompletedDevelopmentProjectsMember 40149112 2025-01-01 d:FixturesFittingsToolsAndEquipmentMember 40149112 2025-01-01 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 40149112 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 40149112 2025-01-01 d:LongtermLeaseCommitmentsMember 40149112 2025-12-31 d:LongtermLeaseCommitmentsMember iso4217:DKK xbrli:pure Rosenkrantzvej 2 CaseWare-FSR PricewaterhouseCoopers false 2025-12-31 false 2024-01-01 33771231 40149112 Plushusene Management ApS 8700 Horsens 2025-01-01 2026-04-14 2024-12-31 Mogens Jepsen Regnskabsklasse B true Revisionspåtegning false false false Årsrapport Bestyrelsen og direktionen har dags da­to be­hand­let og god­kendt års­rap­por­ten for regn­skabs­året 1. januar - 31. december 2025 for Plushusene Management ApS. The supervisory board and executive board have today discussed and approved the annual report of Plushusene Management ApS for the financial year 1 January - 31 December 2025. Års­rap­por­ten af­læg­ges i ov­er­ens­stem­mel­se med års­regn­skabs­lov­en. The annual report is prepared in accordance with the Danish Financial Statements Act. Det er vo­res op­fat­tel­se, at års­regn­ska­bet gi­ver et ret­vi­sen­de bil­lede af sel­ska­bets ak­ti­ver, pas­si­ver og fi­nan­si­el­le stil­ling pr. 31. december 2025 og re­sul­ta­tet af sel­ska­bets ak­ti­vi­te­ter for regn­skabs­året 1. januar - 31. december 2025. 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 the company's operations for the financial year 1 January - 31 December 2025. Le­del­ses­be­ret­ning­en in­de­hol­der ef­ter vo­res op­fat­tel­se en ret­vi­sen­de re­de­gø­rel­se for de for­hold, be­ret­ning­en om­hand­ler. In our opinion, management's review includes a fair review of the matters dealt with in the management's review. Års­rap­por­ten ind­stil­les til ge­ne­ral­for­sam­ling­ens god­ken­del­se. Management recommends that the annual report should be approved by the company in general meeting. Martin Kring Claus Porsgaard Thomas Ebbe Riise-Jakobsen Bettina Antitsch Mortensen Nick Holmelund Melgaard Per Christian Hansen Mads Holm Ullum Til kapitalejerne i Plushusene Management ApS To the shareholders of Plushusene Management ApS Konklusion Vi har re­vi­de­ret års­regn­ska­bet for Plushusene Management ApS for regn­skabs­å­ret 1. januar - 31. december 2025, der om­fat­ter an­vendt regn­skabs­prak­sis, re­sul­tat­op­gø­rel­se, ba­lan­ce, eg­en­ka­pi­tal­op­gø­rel­se og no­ter. Årsregnskabet ud­ar­bej­des ef­ter års­regn­skabs­lov­en.Det er vores opfattelse, at års­regn­ska­bet giver et retvisende billede af sel­ska­bets aktiver, passiver og finansielle stilling pr. 31. december 2025 samt af resultatet af sel­ska­bets aktiviteter for regnskabsåret 1. januar - 31. december 2025 i overensstemmelse med års­regn­skabs­lov­en. We have audited the financial statements of Plushusene Management ApS for the financial year 1 January - 31 December 2025, which comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equi­ty 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 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. Grundlag for konklusion Vi har udf­ørt vores re­vi­si­on i over­ens­stem­mel­se med int­er­na­tio­na­le stand­ard­er om re­vi­si­on og de yd­er­li­ge­re krav, der er gæld­en­de i Dan­mark. Vores an­svar i­føl­ge dis­se stand­ard­er og krav er nær­me­re be­skrev­et i re­vi­si­ons­på­tegn­ing­ens af­snit “Re­vi­sors an­svar for re­vi­si­on­en af års­regn­ska­bet“. Vi er u­af­hæng­ige af selskabet i ov­er­ens­stem­mel­se med In­ter­na­tio­nal Ethics Standards Board for Accountants' internationale retningslinjer for re­vi­so­rers etiske adfærd (IESBA’s Code) og de yd­er­lig­ere etiske krav, der er gæld­en­de i Dan­mark, li­ge­som vi har op­fyldt vores ø­vri­ge e­tis­ke for­plig­tel­ser i hen­hold til dis­se krav og IESBA Code. Det er vores op­fat­tel­se, at det op­nå­ede re­vi­si­ons­be­vis er til­stræk­ke­ligt og eg­net som grund­lag for vores konklusion. 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 are independent of the company in accordance with the International Ethics Standards Board for 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. Led­el­sen har an­svar­et for ud­ar­bej­del­sen af et års­regn­skab, der gi­ver et ret­vi­sen­de bil­le­de i over­ens­stem­mel­se med års­regn­skabs­lov­en. Led­el­sen har end­vi­de­re an­svar­et for den in­ter­ne kon­trol, som led­el­sen an­ser for nød­ven­dig for at ud­ar­bej­de et års­regn­skab ud­en væ­sent­lig fejl­in­for­ma­ti­on, u­an­set om den­ne skyl­des be­svig­el­ser el­ler fejl.Ved ud­ar­bej­del­sen af års­regn­skab­et er led­el­sen an­svar­lig for at vur­de­re sel­ska­bets ev­ne til at fort­sæt­te drif­ten, at op­ly­se om for­hold ved­rør­en­de fort­sat drift, hvor det­te er re­le­vant, samt at ud­ar­bej­de års­regn­skab­et på grund­lag af regn­skabs­prin­cip­pet om fort­sat drift, med­mind­re led­el­sen ent­en har til hen­sigt at li­kvi­de­re selskabet, ind­stil­le drif­ten el­ler ik­ke har and­et rea­li­stisk al­ter­na­tiv end at gø­re det­te. 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 the 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. Vores mål er at op­nå høj grad af sik­ker­hed for, om års­regn­skab­et som hel­hed er ud­en væ­sent­lig fejl­in­for­ma­ti­on, u­an­set om den­ne skyld­es be­svig­el­ser el­ler fejl, og at af­gi­ve en re­vi­si­onspå­tegn­ing med en kon­klu­si­on. Høj grad af sik­ker­hed er et højt ni­veau af sik­ker­hed, men er ik­ke en ga­ran­ti for, at en re­vi­si­on, der ud­fø­res i over­ens­stem­mel­se med in­ter­na­tio­na­le stan­dard­er om re­vi­sio­n og de yd­er­lig­ere krav, der er gæld­en­de i Dan­mark, al­tid vil af­dæk­ke væ­sent­lig fejl­in­for­ma­ti­on, når så­dan find­es. Fej­lin­for­ma­ti­on­er kan op­stå som føl­ge af be­svig­el­ser el­ler fejl og kan be­trag­tes som væ­sent­li­ge, hvis det med ri­me­lig­hed kan for­ven­tes, at de en­kelt­vis el­ler sam­let har ind­flyd­el­se på de ø­ko­no­mi­ske be­slut­ning­er, som regn­skabs­brug­er­ne træf­fer på grund­lag af års­regn­skab­et.Som led i en re­vi­si­on, der ud­fø­res i ov­er­ens­stem­mel­se med in­ter­na­tio­na­le stan­dard­er om re­vi­si­on og de yd­er­lig­ere krav, der er gæld­en­de i Dan­mark, fo­re­tag­er vi fag­lige vur­de­ring­er og op­ret­hold­er pro­fes­sio­nel skep­sis und­er re­vi­si­on­en. Her­ud­over:I­den­ti­fi­cer­er og vur­de­rer vi ri­si­ko­en for væ­sent­lig fejl­in­for­ma­ti­on i års­regn­ska­bet, u­an­set om den­ne skyld­es be­svig­el­ser el­ler fejl, ud­form­er og ud­fø­rer re­vi­si­ons­hand­ling­er som re­ak­tion på dis­se ri­si­ci samt op­når re­vi­si­ons­be­vis, der er til­stræk­ke­ligt og egn­et til at dan­ne grund­lag for vores kon­klu­si­on. Ri­si­ko­en for ik­ke at op­dage væ­sent­lig fejl­in­for­ma­ti­on for­år­sag­et af be­svig­el­ser er høj­ere end ved væ­sent­lig fejl­in­for­ma­ti­on for­år­sag­et af fejl, i­det be­svig­el­ser kan om­fat­te sam­men­svær­gel­ser, do­ku­ment­falsk, be­vid­ste ude­lad­el­ser, vild­led­ning el­ler til­si­de­sæt­tel­se af in­tern kon­trol.Op­når vi for­stå­el­se af den int­er­ne kon­trol med re­le­vans for re­vi­si­on­en for at kun­ne ud­for­me re­vi­si­ons­hand­ling­er, der er pas­sen­de ef­ter om­stæn­dig­hed­er­ne, men ik­ke for at kun­ne ud­tryk­ke en kon­klu­si­on om ef­fek­ti­vi­tet­en af sel­ska­bets in­ter­ne kon­trol.Tag­er vi stil­ling til, om den regn­skabs­prak­sis, som er an­vendt af led­el­sen, er pas­sen­de, samt om de regn­skabs­mæs­sige skøn og til­knyt­tede op­lys­ning­er, som led­el­sen har ud­ar­bej­det, er ri­me­li­ge.Kon­klu­de­rer vi, om led­el­sens ud­arbej­del­se af års­regn­skab­et på grund­lag af regn­skabs­prin­cip­pet om fort­sat drift er pas­sen­de, samt om der på grund­lag af det op­nå­ede re­vi­si­ons­be­vis er væ­sent­lig u­sik­ker­hed for­bund­et med be­giv­en­hed­er el­ler for­hold, der kan ska­be be­ty­de­lig tvivl om sel­ska­bets ev­ne til at fort­sæt­te drift­en. Hvis vi kon­klu­de­rer, at der er en væ­sent­lig u­sik­ker­hed, skal vi i vores re­vi­si­ons­på­tegn­ing gø­re op­mærk­som på op­lys­ning­er her­om i års­regn­skab­et el­ler, hvis så­dan­ne op­lys­ning­er ik­ke er til­stræk­ke­li­ge, mo­di­fi­ce­re vores kon­klu­si­on. Vores kon­klu­si­on­er er ba­se­ret på det re­vi­si­ons­be­vis, der er op­nå­et frem til da­to­en for vores re­vi­si­ons­på­tegn­ing. Frem­ti­di­ge be­gi­ven­hed­er el­ler for­hold kan dog med­fø­re, at selskabet ik­ke læng­ere kan fort­sæt­te drif­ten.Tager vi stilling til den samlede præsentation, struktur og indhold af års­regn­skab­et, herunder noteoplysningerne, samt om års­regn­skab­et afspejler de underliggende transaktioner og begivenheder på en sådan måde, at der gives et retvisende billede heraf.Vi kom­mu­ni­ke­rer med den øv­er­ste led­el­se om blandt and­et det plan­lagte om­fang og den tids­mæs­sige pla­ce­ring af re­vi­si­on­en samt be­ty­de­li­ge re­vi­si­ons­mæs­si­ge ob­ser­va­ti­on­er, her­und­er ev­en­tu­el­le be­ty­de­li­ge mang­ler i int­ern kon­trol, som vi i­den­ti­fi­ce­rer und­er re­vi­si­on­en. 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 contents of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Udtalelse om ledelsesberetningenLed­el­sen er an­svar­lig for led­el­ses­be­ret­ning­en.Vores kon­klu­si­on om års­regn­skab­et om­fat­ter ik­ke led­el­ses­be­ret­ning­en, og vi ud­tryk­ker ing­en form for kon­klu­si­on med sik­ker­hed om led­el­ses­be­ret­ning­en.I til­knyt­ning til vores re­vi­si­on af års­regn­skab­et er det vores an­svar at læse led­el­ses­be­ret­ning­en og i den for­bind­el­se ov­er­ve­je, om led­el­ses­be­ret­ning­en er væ­sent­ligt in­kon­si­stent med års­regn­skab­et el­ler vores vi­den op­nå­et ved re­vi­si­on­en el­ler på and­en må­de sy­nes at in­de­hol­de væ­sent­lig fejl­in­for­ma­ti­on.Vores an­svar er der­ud­ov­er at ov­er­ve­je, om led­el­ses­be­ret­ning­en in­de­hold­er kræ­ve­de op­lys­ning­er i hen­hold til års­regn­skabs­lov­en.Ba­se­ret på det ud­før­te ar­bej­de er det vores op­fat­tel­se, at led­el­ses­be­ret­ning­en er i over­ens­stem­mel­se med års­regn­skab­et og er ud­ar­bej­det i over­ens­stem­mel­se med års­regn­skabs­lov­ens krav. Vi har ik­ke fund­et væ­sent­lig fejl­in­for­ma­ti­on i led­el­ses­be­ret­ning­en. Statement on management's reviewManagement 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 Financial Statements Act.Based on the work we have performed, we conclude that 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 of management's review. Trekantområdet 2026-04-14 PricewaterhouseCoopers Lars Almskou Ohmeyer statsautoriseret revisor mne24817 Morten Jacobsen statsautoriseret revisor mne44140 Plushusene Management ApS Rosenkrantzvej  2 8700  Horsens 75 60 20 10 www.plushusene.dk 40149112 Horsens 33771231 Herredsvej 32 7100 Vejle Selskabets væ­sent­lig­ste ak­ti­vi­te­terSelskabets aktiviteter består af udvikling og drift af bofællesskaber under navnet Plushusene. Plushusene er etableret i 2018 af Urban Partners (tidl. NREP) og M+ Invest, som er to af de største og mest succesfulde virksomheder inden for udvikling, opførelse og drift af ejendomme i Danmark. Plushusene er etableret med en vision om at skabe et helt nyt og unikt lejeboligkoncept, som bygger på de nyeste trends og behov inden for co-living.     Plushusene-konceptet er baseret på de bedste komponenter fra de traditionelle bofællesskaber i kombination med nutidens behov for at have sit eget private rum, og med frihed til at leve som man ønsker med individuelle præferencer. Konceptet understøtter en tendens til, at flere søger muligheder for sameksistens på tværs af generationer i bofællesskaber, hvor muligheden for aktiviteter og services kan vælges til og fra efter eget valg. Formålet ved Plushusenes bofællesskaber er at skabe en bedre hverdag for beboerne, og derved reducere ensomhed og stress, samt sikre en tryg og aktiv opvækst for børn. En tilfredshedsanalyse viser at beboerne føler sig meget trygge, og at konceptet virkelig gør en forskel i en verden præget af ensomhed. Kun 3% af Plushusenes beboere føler, at de ofte er alene, selvom de mest har lyst til at være sammen med andre – landsgennemsnittet er ifølge Folkebevægelsen mod Ensomhed 10%.     Selskabet er baseret på antal boliger og byggede m2 Danmarks største bofællesskabsaktør. Business reviewThe company's activities consist of the development and operation of co-living communities under the name Plushusene. Plushusene was established in 2018 by Urban Partners (formerly NREP) and M+ Invest, two of the largest and most successful companies within property development, construction, and operations in Denmark. Plushusene was founded with a vision to create an entirely new and unique rental housing concept based on the latest trends and needs within co-living.   The Plushusene concept is based on the best components from traditional co-living communities combined with the modern need for private space and the freedom to live according to individual preferences. The concept supports a trend where more people are seeking opportunities for multi-generational coexistence in communities where activities and services can be opted in or out of by choice. The purpose of Plushusene's communities is to create a better everyday life for residents, thereby reducing loneliness and stress, as well as ensuring a safe and active upbringing for children. A satisfaction analysis shows that residents feel very secure and that the concept truly makes a difference in a world characterized by loneliness. Only 3% of Plushusene's residents feel that they are often alone when they would prefer to be with others – compared to a national average of 10% according to the Danish National Movement Against Loneliness.   Based on the number of homes and square meters built, the company is Denmark's largest co-living operator. Udviklingen i aktiviteter og økonomiske forholdSelskabets resultatopgørelse for 2025 udviser et overskud på DKK 1.592.635, og selskabets balance pr. 31. december 2025 udviser en egenkapital på DKK 5.916.348.Virksomhedens aktiviteter i 2025 har været implementering, drift og videreudvikling af konceptet.  Bofællesskabet i Ølstykke er afleveret til normal drift i løbet af 2025.     Ved udgangen af 2025 er der nu i alt 1.201 boliger fordelt på 7 bofællesskaber i drift. Bofællesskaberne i Hedehusene, Ballerup, Tårnby, Nivå, Køge Nord har været fuldt udlejede hele året. Lisbjerg og Ølstykke er begge tæt på fuldt udlejet ved årets udgang. Der har på tværs af de eksisterende bofællesskaber været et højt aktivitetsniveau med over 5.000 arrangementer i kalenderen på tværs af de åbne bofællesskaber. Churn har samlet set været lav.    Årets resultat udviser et overskud på 1.593 t.kr., hvilket kan henføres til det udvidede antal boliger og den stabilt høje udlejningsprocent. Alle aktiviteter har været med fokus på målet om at åbne og drifte store bofællesskaber i Danmark samt drive egen boligadministration. Årets resultat er i overensstemmelse med ledelsens forventninger og tilfredsstillende. Financial review The company's income statement for the year ended 31 December 2025 shows a profit of DKK 1.592.635, and the balance sheet at 31 December 2025 shows equity of DKK 5.916.348.The company's activities in 2025 have focused on the implementation, operation, and further development of the concept. The co-living community in Ølstykke was handed over to normal operations during 2025.   By the end of 2025, a total of 1,201 homes across 7 co-living communities are in operation. The communities in Hedehusene, Ballerup, Tårnby, Nivå, and Køge Nord have been fully leased throughout the year. Lisbjerg and Ølstykke are both close to being fully leased by year-end. Across the existing communities, there has been a high level of activity with over 5,000 events scheduled across the open locations. Overall, churn has remained low.   The result for the year shows a profit of DKK 1,593 thousand, which can be attributed to the increased number of homes and the consistently high occupancy rate. All activities have been focused on the goal of opening and operating large-scale co-living communities in Denmark, as well as managing in-house property administration. The result for the year is in line with management's expectations and is considered satisfactory. Betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutningDer er ef­ter regn­skabs­årets af­slut­ning ik­ke ind­truf­fet be­gi­ven­he­der, som væ­sent­ligt vil kun­ne på­vir­ke selskabets fi­nan­si­el­le stil­ling. Significant events occurring after the end of the financial yearNo events have occurred after the balance sheet date which could significantly affect the company's financial position. Selskabets forventede udviklingAktiviteterne i 2026 vil have fokus på drift, skabe livskvalitet for de beboere, der bor i Plushusene og på videreudrulning af konceptet. I 2. halvår af 2026 flytter de første beboere ind i Hvidovre og Viby Sjælland – i alt kommer der 224 boliger i Hvidovre og 135 boliger I Viby Sjælland.    Selskabet forventes i 2026 at generere et overskud. The Company’s expected developmentActivities in 2026 will focus on operations, enhancing the quality of life for the residents living in Plushusene, and the further rollout of the concept. In the second half of 2026, the first residents will move into Hvidovre and Viby Sjælland – totaling 224 homes in Hvidovre and 135 homes in Viby Sjælland.   In 2026, the company is expected to generate a profit. 18696362 15404324 16492170 14395321 604718 907707 1599474 101296 0 33890 6839 8972 1592635 126214 0 -1400000 1592635 1526214 1592635 1526214 5082 433194 5082 433194 191373 453446 191373 453446 4000 4000 4000 4000 200455 890640 3972428 3142331 662578 376552 1400000 1400000 293491 268683 6328497 5187566 7209414 6614083 13537911 11801649 13738366 12692289 1700000 1700000 3964 337890 4212384 2285823 5916348 4323713 0 168945 0 168945 0 52615 929611 1074262 6892407 7072754 7822018 8199631 7822018 8368576 13738366 12692289 1700000 337890 2285823 0 -333926 333926 0 1592635 1700000 3964 4212384 14113926 12442275 2110648 1737052 267596 215994 16492170 14395321 23 20 428112 621029 176606 286678 604718 907707 3094703 3094703 -2661509 -428112 -3089621 5082 Udviklingsprojekter vedrører udvikling af platforme til beboere hos Plushusene. Den første lancering af platformen er sket i slutningen af 2020. Projektet er forløbet som planlagt ved anvendelse af de ressourcer, som ledelsen har afsat til udvikling. Development projects relate to development of platforms to residents at Plushusene. The first launch of the platform is made by the end of 2020. The projects were progressed according to plan through the use of the resources allocated by the Management to the development. 1481762 77033 -372563 1186232 1028316 176606 -210063 -994859 191373 168945 0 0 0 Selskabet har indgået leasingaftaler, hvor virksomheden modtager køretøjer mod betaling heraf i aftaleperioden. Restløbetiden af aftalerne udgør, pr. 31. december 2025, 24 måneder. Pr. 31. december 2025 er aftalernes forpligtelse i alt 908 t.kr. The company has entered into leasing agreements under which the company receives vehicle against payment during the term of the agreements. As of 31 December 2025, the remaining term of the agreements is 24 months. As of 31 December 2025, the total contractual obligation amounts to DKK 908 thousand. Årsrapporten for Plushusene Management ApS for 2025 er aflagt i overensstemmelse med årsregnskabslovens bestemmelser for virk­som­he­der i regn­skabs­klas­se B med tilvalg af regler fra regnskabsklasse C.Den an­vend­te regn­skabs­prak­sis er u­æn­dret i for­hold til sid­ste år.Årsrapporten for 2025 er aflagt i DKK The annual report of Plushusene Management ApS for 2025 has been prepared in accordance with the provisions of the Danish Financial Statements Act ap­plying to en­ter­pri­ses of re­por­ting class B, as well as provisions applying to reporting class C entities.The accounting policies applied are consistent with those of last year.The annual report for 2025 is pre­sen­ted in DKK I re­sul­tat­op­gø­rel­sen ind­reg­nes ind­tæg­ter i takt med, at de ind­tje­nes. Her­ud­over ind­reg­nes vær­di­re­gu­le­ring­er af fi­nan­si­el­le ak­ti­ver og for­plig­tel­ser. I re­sul­tat­op­gø­rel­sen ind­reg­nes li­ge­le­des al­le om­kost­nin­ger, her­under af­skriv­nin­ger og ned­skriv­nin­ger. Ak­ti­ver ind­reg­nes i ba­lan­cen, når det er sand­syn­ligt, at frem­ti­di­ge ø­ko­no­mis­ke for­de­le vil til­fly­de sel­ska­bet, og ak­ti­vets vær­di kan må­les på­li­de­ligt.For­plig­tel­ser ind­reg­nes i ba­lan­cen, når det er sand­syn­ligt, at frem­ti­di­ge ø­ko­no­mis­ke for­de­le vil fra­gå sel­ska­bet, og for­plig­tel­sens vær­di kan må­les på­li­de­ligt.Ved før­ste ind­reg­ning må­les ak­ti­ver og for­plig­tel­ser til kost­pris. Ef­ter­­føl­gen­de må­les ak­ti­ver og for­­plig­tel­ser som be­skre­vet for hver en­kelt regn­skabs­post ne­den­for.Vis­se fi­nan­si­el­le ak­ti­ver og for­plig­tel­ser må­les til a­mor­ti­se­ret kost­pris, hvor­ved der ind­reg­nes en kon­stant ef­fek­tiv ren­te over lø­be­ti­den. A­mor­ti­se­ret kost­pris op­gø­res som op­rin­de­lig kost­pris med fra­drag af e­ven­tu­el­le af­drag samt til­læg/fra­drag af den ak­ku­mu­le­re­de a­mor­ti­se­ring af for­skel­len mel­lem kost­pris og no­mi­nelt be­løb. Ved ind­reg­ning og må­ling ta­ges hen­syn til for­ud­si­ge­li­ge tab og ri­si­ci, der frem­kom­mer, in­den årsrapporten af­læg­ges, og som be- el­ler af­kræf­ter for­hold, der ek­si­ste­re­de på ba­lan­ce­da­gen. Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including amortisation, depreciation and impairment losses, are also recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company and the value of the asset can be measured reliably.Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company and the value of the liability can be measured reliably.On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item.Certain financial assets and liabilities are measured at amortised cost using the effective interest method. Amortised cost is calculated as the historic cost less any installments and plus/less the accumulated amortisation of the difference between the cost and the nominal amount. On recognition and measurement, allowance is made for predictable losses and risks which occur before the annual report is presented and which confirm or invalidate matters existing at the balance sheet date. Sel­ska­bet an­ven­der be­stem­mel­sen i års­regn­skabs­lo­vens § 32, hvor­efter sel­ska­bets om­sæt­ning ik­ke er op­lyst.Bruttotab er et sam­men­drag af net­to­om­sæt­ning og an­dre eks­ter­ne om­kost­nin­ger. In pursuance of section 32 of the Danish Financial Statements Act, the company does not disclose its revenue. Gross profit reflects an aggregation of revenue and other external expenses. Ind­tæg­ter i form af management fee, ind­reg­nes i re­sul­tat­op­gø­rel­sen, når le­ve­ring og ri­si­ko­over­gang til kø­ber har fun­det sted, og hvis ind­tæg­ten kan op­gø­res på­li­de­ligt og for­ven­tes mod­ta­get.Net­to­om­sæt­nin­gen må­les til dags­vær­di­en af det af­tal­te ve­der­lag ekskl. moms og af­gif­ter. Alle for­mer for af­giv­ne ra­bat­ter er fra­truk­ket i net­to­om­sæt­nin­gen. Income from rent is recognised in the income statement, provided that the transfer of risk, usually on delivery to the buyer, has taken place and that the income can be measured reliably and is expected to be received.Revenue is measured at the fair value of the agreed consideration, excluding VAT and other indirect taxes. Revenue is net of all types of discounts granted. Andre eksterne omkostninger om­fat­ter om­kost­ning­er til salg, re­kla­me, ad­mi­ni­stra­tion, lo­kal­er, tab på de­bi­tor­er mv. Other external expenses include expenses related to sale, advertising, administration, premises, bad debts etc. Per­so­na­le­om­kost­ning­er om­fat­ter løn og ga­ger, in­klu­si­ve fe­rie­pen­ge og pen­sion­er samt an­dre om­kost­ning­er til so­ci­al si­kring mv. til sel­skab­ets med­ar­bej­de­re. Staff costs include wages and salaries, including compensated absence and pensions, as well as other social security contributions, etc. made to the entity's employees. Af- og ned­skriv­nin­ger af im­ma­te­ri­el­le og ma­te­ri­el­le an­lægs­ak­ti­ver in­de­hol­der år­ets af- og ned­skriv­nin­ger af im­ma­te­ri­el­le og ma­te­ri­el­le an­lægs­ak­ti­ver. Depreciation, amortisation and impairment of intangible assets and property, plant and equipment comprise the year's depreciation, amortisation and impairment of intangible assets and property, plant and equipment. Finansielle ind­tæg­ter og om­kost­nin­ger ind­reg­nes i re­sul­tat­op­gø­rel­sen med de be­løb, der ved­rø­rer regn­skabs­året. Fi­nan­siel­le pos­ter om­fat­ter ren­te­ind­tæg­ter og -om­kost­nin­ger, fi­nan­siel­le om­kost­nin­ger ved fi­nan­siel lea­sing, samt til­læg og godt­gø­rel­se un­der acon­to­skat­te­ord­nin­gen mv. Financial income and expenses are recognised in the income statement at the amounts that relate to the financial year. Net financials include interest income and expenses, surcharges and allowances under the Danish Tax Prepayment Scheme, etc. Årets skat, som be­står af årets ak­tuel­le sel­skabs­skat og æn­dring i ud­skudt skat, ind­reg­nes i re­sul­tat­op­gø­rel­sen med den del, der kan hen­fø­res til årets re­sul­tat, og di­rek­te i egen­ka­pi­ta­len med den del, der kan hen­føres til po­ste­rin­ger di­rek­te i egen­ka­pi­ta­len. Tax for the year, which comprises the current tax charge for the year and changes in the deferred tax charge, is recognised in the income statement as regards the portion that relates to the profit/loss for the year and directly in equity as regards the portion that relates to entries directly in equity. Ud­vik­lings­pro­jek­ter, pa­ten­ter og li­cen­serUd­vik­lings­om­kost­nin­ger om­fat­ter om­kost­nin­ger, ga­ger og af­skriv­ning­er, der di­rek­te og in­di­rek­te kan hen­før­es til ud­vik­lings­ak­ti­vi­tet­er. Ud­vik­lings­pro­jek­ter, der er ind­reg­net i ba­lan­cen, mål­es til kost­pris med fra­drag af ak­ku­mu­le­re­de af- og ned­skriv­nin­ger.Ef­ter fær­dig­gør­el­sen af ud­vik­lings­ar­bej­det af­skri­ves ud­vik­lings­om­kost­nin­ger li­ne­ært ov­er den vur­de­re­de ø­ko­no­mis­ke brugs­tid. Af­skriv­nings­pe­ri­od­en ud­gør sæd­van­lig­vis 5 år. Development projects, patents and licencesDevelopment costs comprise costs, wages/salaries and amortisation losses that are directly and indirectly attributable to the company's development activities.Developments projects recognised in the balance sheet are measured at cost less accumulated amortisation and impairment losses.Following the completion of the development work, development costs are amortised on a straight-line basis over the estimated useful life. The amortisation period is usually five years. Andre an­læg, drifts­ma­te­riel og in­ven­tar mål­es til kost­pris med fra­drag af ak­ku­mu­le­re­de af- og ned­skriv­ning­er.Af­skriv­nings­grund­la­get er kost­pris med fra­drag af for­ven­tet rest­vær­di ef­ter af­slut­tet brugs­tid.Kost­pris om­fat­ter an­skaf­fel­ses­pri­sen og om­kost­nin­ger di­rek­te til­knyt­tet an­skaf­fel­sen ind­til det tids­punkt, hvor ak­ti­vet er klar til brug.Der fo­re­tag­es li­neæ­re af­skriv­ning­er ba­se­ret på føl­gen­de vur­de­ring af ak­ti­ver­nes for­ven­te­de brugs­tider og rest­vær­di­er: Andre anlæg, driftsmateriel og inventar 3-5 år Other fixtures and fittings, tools and equipment 3-5 years Brugstiden og rest­vær­di­en re­vur­de­res år­ligt. En æn­dring be­hand­les som et regn­skabs­mæs­sigt skøn, og ind­virk­nin­gen på af­skriv­nin­ger ind­reg­nes frem­ad­ret­tet. Fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses.The depreciable amount is cost less the expected residual value at the end of the useful life.Cost comprises the purchase price and any costs directly attributable to the acquisition until the date when the asset is available for use.Straight-line depreciation is provided on the basis of the following estimated useful lives of the assets:The useful life and residual value are re-assessed annually. A change is accounted for as an accounting estimate, and the impact on amortisation/depreciation is recognised going forward. Lea­sing­kon­trak­ter ved­rø­ren­de ma­te­ri­el­le an­lægs­ak­ti­ver, hvor sel­ska­bet har al­le væ­sent­li­ge ri­si­ci og for­de­le for­bun­det med ej­en­doms­ret­ten (fi­nan­si­el le­asing), ind­reg­nes i ba­lan­cen som ak­ti­ver. Ak­ti­ver­ne må­les ved første ind­reg­ning til op­gjort kost­pris sva­ren­de til la­ves­te vær­di af dags­vær­di af det lea­se­de ak­tiv og nu­tids­vær­di­en af de frem­ti­di­ge lea­sing­yd­el­ser. Ved be­reg­ning af nu­tids­vær­di­en an­ven­des lea­sing­af­ta­lens in­ter­ne ren­te el­ler al­ter­na­tivt virk­som­he­dens lå­ne­ren­te som dis­kon­te­rings­fak­tor. Fi­nan­sielt lea­se­de ak­ti­ver be­hand­les her­ef­ter som virk­som­he­dens øv­ri­ge an­lægs­ak­ti­ver.Den ka­pi­ta­li­se­re­de re­st­lea­sing­for­plig­tel­se ind­reg­nes i ba­lan­cen som en gælds­for­plig­tel­se, og lea­sing­yd­el­sens ren­te­del ind­reg­nes over kon­trak­tens lø­be­tid i re­sul­tat­op­gø­rel­sen. Leases for items of property, plant and equipment that transfer substantially all the risks and rewards incident to ownership to the company (finance leases) are recognised in the balance sheet as assets. On initial recognition, assets are measured at estimated cost, corresponding to the lower of fair value of the leased asset and the present value of the future lease payments. In calculating the net present value of the future lease payments, the interest rate implicit in the lease or the incremental borrowing rate is used as the discount factor. Assets held under finance leases are subsequently depreciated as the company's other non-current assets.The capitalised residual lease commitment is recognised in the balance sheet as a liability, and the interest element of the lease payment is recognised in the income statement over the term of the lease. Kapitalandele, som ikke er handlet på et aktivt marked, måles til kostpris eller en lavere genindvindingsværdi. Investments which are not traded in an active market are measured at the lower of cost and recoverable amount. Den regn­skabs­mæs­si­ge vær­di af im­ma­te­ri­el­le og ma­te­ri­el­le an­lægs­ak­ti­ver samt ka­pi­tal­an­de­le i dat­ter­virk­som­he­der, as­so­cie­re­de virk­som­hed­er og ka­pi­tal­in­te­res­ser vur­der­es år­ligt for in­di­ka­tion­er på vær­di­for­ring­el­se, ud ov­er det som ud­tryk­kes ved af­skriv­ning. The carrying amount of intangible assets, items of property, plant and equipment and investments in subsidiaries, associates and participating interests is tested annually for impairment, other than what is reflected through normal amortisation and depreciation. Til­go­de­hav­en­der må­les til a­mor­ti­se­ret kost­pris. Receivables are measured at amortised cost. Periodeafgrænsningsposter, ind­reg­net un­der om­sæt­nings­ak­ti­ver, om­fat­ter af­hold­te om­kost­ning­er ved­rø­ren­de ef­ter­føl­gen­de regn­skabs­år. Prepayments recognised under 'Current assets' comprises expenses incurred concerning subsequent financial years. Lik­vi­de behold­ning­er om­fat­ter indestå­ende i pen­ge­institut­ter. Cash and cash equivalents comprise deposits at banks. Reserve for udviklingsomkostningerI reserven ind­reg­nes et be­løb sva­ren­de til ak­ti­ve­re­de ud­vik­lings­om­kost­nin­ger. Re­ser­ven re­du­ce­res, i takt med at ud­vik­lings­om­kost­nin­ger af­skri­ves. Reserve for development costsAn amount corresponding to capitalised development costs is recognised in the reserve. The reserve is reduced as development costs are amortised. Ud­skud­te skat­te­ak­ti­ver, her­un­der skat­te­vær­di­en af frem­før­sels­be­ret­ti­get skat­te­mæs­sigt un­der­skud, må­les til den vær­di, hvor­til ak­ti­vet for­ven­tes at kun­ne re­a­li­se­res, en­ten ved ud­lig­ning i skat af frem­ti­dig ind­tje­ning el­ler ved mod­reg­ning i ud­skud­te skat­te­for­plig­tel­ser in­den for sam­me ju­ri­dis­ke skat­te­en­hed. Even­tu­el­le ud­skudte net­to­skat­te­ak­ti­ver måles til nettorealisationsværdi. Deferred tax assets, including the tax base of tax losses allowed for carry forward, are measured at the value to which the asset is expected to be realised, either as a set-off against tax on future income or as a set-off against deferred tax liabilities within the same legal tax entity. Any deferred net tax assets are measured at net realisable value. I finansielle forpligtelser indregnes tillige den kapitaliserede restleasingforpligtelse på finansielle leasingkontrakter.Øvrige gælds­for­plig­tel­ser, som om­fat­ter gæld til le­ve­ran­dø­rer, til­knyt­tede virk­som­he­der samt an­den gæld, må­les til amor­ti­se­ret kost­pris, hvil­ket sæd­van­lig­vis sva­rer til no­mi­nel vær­di. Financial liabilities also include the capitalised residual finance lease commitment.Other liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value.