38977334 2025-01-01 2025-12-31 38977334 2025-01-01 2025-12-31 1 38977334 2024-01-01 2024-12-31 38977334 2025-12-31 38977334 2024-12-31 38977334 2025-01-01 d:CompletedDevelopmentProjectsMember 38977334 2025-12-31 d:CompletedDevelopmentProjectsMember 38977334 2025-01-01 2025-12-31 d:CompletedDevelopmentProjectsMember 38977334 2025-01-01 d:FixturesFittingsToolsAndEquipmentMember 38977334 2025-01-01 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 38977334 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 38977334 2025-01-01 d:OtherInvestmentsMember 38977334 2025-12-31 d:OtherInvestmentsMember 38977334 2025-01-01 d:DepositsLongtermInvestmentsAndReceivablesMember 38977334 2025-01-01 2025-12-31 d:DepositsLongtermInvestmentsAndReceivablesMember 38977334 2025-12-31 d:DepositsLongtermInvestmentsAndReceivablesMember 38977334 2025-01-01 d:ContributedCapitalMember 38977334 2024-01-01 d:ContributedCapitalMember 38977334 2025-12-31 d:ContributedCapitalMember 38977334 2024-12-31 d:ContributedCapitalMember 38977334 2025-01-01 d:RevaluationReserveMember 38977334 2024-01-01 d:RevaluationReserveMember 38977334 2025-01-01 2025-12-31 d:RevaluationReserveMember 38977334 2024-01-01 2024-12-31 d:RevaluationReserveMember 38977334 2025-12-31 d:RevaluationReserveMember 38977334 2024-12-31 d:RevaluationReserveMember 38977334 2025-01-01 d:RetainedEarningsMember 38977334 2024-01-01 d:RetainedEarningsMember 38977334 2025-01-01 2025-12-31 d:RetainedEarningsMember 38977334 2024-01-01 2024-12-31 d:RetainedEarningsMember 38977334 2025-12-31 d:RetainedEarningsMember 38977334 2024-12-31 d:RetainedEarningsMember 38977334 2025-01-01 2025-12-31 1 38977334 2025-01-01 2025-12-31 2 38977334 2025-01-01 2025-12-31 1 38977334 2025-01-01 2025-12-31 2 iso4217:DKK xbrli:pure Årsrapport 25492145 RSM Danmark, Statsautoriseret Revisionspartnerselskab Ved Vesterport, 6, 5. sal 1612, København V 2024-01-01 2024-12-31 2025-01-01 2025-12-31 38977334 Position Green Denmark ApS Nyropsgade 37, 5 1602 København V 2017-09-25 København RSM Danmark, Statsautoriseret Revisionspartnerselskab 25492145 Martin Enderberg Lassen statsautoriseret revisor mne40044 Ved Vesterport 6, 5. sal 1612 København V Danmark +45 33 93 22 33 kobenhavn@rsm.dk 2026-03-31 Anders de Lichtenberg Regnskabsklasse B Revisionspåtegning Ja CaseWare fra Revisorgruppen Danmark anpartshaveren København V 2026-03-31 København V 2026-03-31 Grundlag for konklusion Konklusion 42594529 45796968 45486583 39138838 441865 800306 -3333919 5857824 496345 167182 903719 569780 -3741293 5455226 -805708 1207833 -2935585 4247393 -2807693 4247393 -127892 0 167585 331549 167585 331549 1245675 1478380 1245675 1478380 360870 360870 734107 719712 1094977 1080582 2508237 2890511 5528746 12355413 281592 872869 21409031 10412834 778565 0 147103 113177 224145 274730 28369182 24029023 3858647 5503350 32227829 29532373 34736066 32422884 0 70000 70000 130716 258608 9631489 12439182 9832205 12767790 0 27143 0 27143 56750 808425 360239 2529220 13588112 5496179 0 1053448 5740693 6939085 5158067 2801594 24903861 19627951 24903861 19627951 34736066 32422884 41899602 36057387 3075602 2639694 511379 441757 45486583 39138838 52 55 480465 426610 423254 143170 903719 569780 1423592 1423592 1092043 163964 1256007 167585 2447320 45198 2492518 968941 277902 1246843 1245675 360870 360870 360870 719712 14395 734107 734107 70000 70000 70000 70000 258608 481290 -127892 0 0 285488 0 -62806 130716 258608 12439182 7969107 -2807693 4247393 0 62806 0 285488 9631489 12439182 Today, the Board of Directors and the Executive Board have approved the annual report of Position Green Denmark ApS for the financial year 1 January - 31 December 2025. The annual report has been prepared in accordance with the Danish Financial Statements Act. We consider the chosen accounting policy to be appropriate, and 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 true and fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the Annual General Meeting. Anders de Lichtenberg Sofie Uhre Knattrup Ole Martin Tangen Joachim Nahem We have audited the financial statements of Position Green Denmark 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, for the Company. 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 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. Basis for OpinionWe 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’ 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. 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, 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 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 judgment and maintain professional skepticism 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. 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 Statement Act. We did not identify any material misstatement of Management’s Review. Description of key activities of the companyThe company's main activity is to engage in consulting, trading, and services, as well as activities related there to. Significant changes in the company's activities and financial mattersThe gross profit for the year totals DKK 42.594.529 against DKK 45.796.968 last year. Profit or loss from ordinary activities after tax totals DKK (2.935.585) against DKK 4.247.393 last year. Management considers the net profit or loss for the year satisfactory. Events occurring after the end of the financial yearNo events materially affecting the Company's financial position have occurred subsequent to the financial year-end. The annual report for Position Green Denmark ApS has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class B enterprises. Furthermore, the company has decided to comply with certain rules applying to reporting class C enterprises.  Changes in presentation – no impact on profit/equityCertain comparative figures have been reclassified to ensure consistency with the presentation adopted in the current year. The following reclassifications have no impact on profit for the year or equity The 2024 Gross profit  has been adjusted downwards by DKK 1.080.382 The 2024 staff cost  has been adjusted downwards by DKK 1.034.404 The 2024 other operating expenses has been adjusted downwards by DKK 26.955 The 2024 financial expenses has been adjusted upwards by DKK 19.023 The accounting policies are unchanged from last year, and the annual report is presented in DKK. Recognition and measurement in generalIncome is recognised in the income statement concurrently with its realisation, including the recognition of value adjustments of financial assets and liabilities. Likewise, all costs are recognised in the income statement, including depreciations amortisations, write-downs for impairment, provisions, and reversals due to changes in estimated amounts previously recognised in the income statement. Assets are recognised in the statement of financial position when it seems probable that future economic benefits will flow to the company and the value of the asset can be reliably measured. Liabilities are recognised in the statement of financial position when it is seems probable that future economic benefits will flow out of the company and the value of the liability can be reliably measured. Certain financial assets and liabilities are measured at amortised cost, allowing a constant effective interest rate to be recognised during the useful life of the asset or liability. Amortised cost is recognised as the original cost less any payments, plus/less accrued amortisations of the difference between cost and nominal amount. In this way, capital losses and gains are allocated over the useful life of the liability. Upon recognition and measurement, allowances are made for such predictable losses and risks which may arise prior to the presentation of the annual report and concern matters that exist on the reporting date. Gross profitGross profit comprises the revenue, work in progress, own work capitalised, other operating income, and external costs. The enterprise will be applying IAS 11 and IAS 18 as its basis of interpretation for the recognition of revenue. Revenue is recognised in the income statement if delivery and passing of risk to the buyer have taken place before the end of the year and if the income can be determined reliably and inflow is anticipated. Revenue is measured at the fair value of the consideration promised exclusive of VAT and taxes and less any discounts relating directly to sales. Contract work in progress concerning contracts is recognised in the revenue concurrently with the production process. Thus, the revenue corresponds to the selling price of the total yearly production (the production method). The revenue is recognised when the total income and costs of the contract and the stage of completion on the reporting date can be reliably validated and it is deemed probable that the financial benefits will flow to the company. Other external expenses comprise expenses incurred for distribution, sales, advertising, administration, premises, loss on receivables, and operational leasing costs. Staff costsStaff costs include salaries and wages, including holiday allowances, pensions, and other social security costs, etc., for staff members. Depreciation, amortisation, and write-down for impairmentDepreciation, amortisation, and write-down for impairment comprise depreciation on, amortisation of, and write-down for impairment of intangible and tangible assets, respectively. Other operating expensesOther operating expenses comprise items of secondary nature as regards the principal activities of the enterprise, including losses on the disposal of intangible and tangible assets. Financial income and expensesFinancial income and expenses are recognised in the income statement with the amounts concerning the financial year. Financial income and expenses comprise interest income and expenses, debt and transactions in foreign currency, etc. Tax on net profit or loss for the yearTax for the year comprises the current income tax for the year and changes in deferred tax and is recognised in the income statement with the share attributable to the net profit or loss for the year and directly in equity with the share attributable to entries directly in equity.  Intangible assetsDevelopment projects, patents, and licencesDevelopment costs and internally generated rights are recognised in the income statement as costs in the acquisition year. 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 develo pment costs. Other development costs are recognised in the income statement as incurred. Depreciation is done on a straight-line basis according to an assessment of the expected useful life. The expected useful lives of the assets are assesed at 3 years. Property, plant, and equipmentProperty, plant, and equipment are measured at cost less accrued depreciation and write-down for impairment. The depreciable amount is cost less any expected residual value after the end of the useful life of the asset. The amortisation period and the residual value are determined at the acquisition date and reassessed annually. If the residual value exceeds the carrying amount, the depreciation is discontinued.  Depreciation is done on a straight-line basis according to an assessment of the expected useful life: Useful lifeOther fixtures and fittings, tools and equipment3-5yearsLeasehold improvements5years Minor assets with an expected useful life of less than 1 year are recognised as costs in the income statement in the year of acquisition. Other financial investmentsFinancial investments recognised under non-current assets comprise of unlisted shares that are measured at cost. Write-down for impairment is done to the recoverable amount if this value is lower than the carrying amount. DepositsDeposits relate to receivable deposits on the company's leasehold on properties. Impairment loss relating to non-current assetsThe carrying amount of both intangible and tangible fixed assets are assesed if any indications of impairment beyond those expressed by amortisation and depreciation respectively. If indications of impairment are disclosed, impairment tests are carried out for each individual asset or group of assets, respectively. write-down for impairment is done to the recoverable amount if this value is lower than the carrying amount. The recoverable amount is the higher value of value in use and selling price less expected selling cost. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the asset group and expected net cash flows from the sale of the asset or the asset group after the end of their useful life. ReceivablesReceivables are measured at amortised cost, which usually corresponds to nominal value. In order to meet expected losses, impairment takes place at the net realisable value. The company has chosen to use IAS 39 as a basis for interpretation when recognising impairment of financial assets, which means that impairments must be made to offset losses where an objective indication is deemed to have occurred that an account receivable or a portfolio of accounts receivable is impaired. If an objective indication shows that an individual account receivable has been impaired, an impairment takes place at individual level. Impairment losses are calculated as the difference between the carrying amount of accounts receivable and the present value of the expected cash flows, including the realisable value of any securities received.  Contract work in progress Contract work in progress is measured at the selling price of the work performed. The selling price is measured on the basis of the stage of completion on the reporting date and the total expected income from the individual work in progress. The stage of completion is calculated as the share of costs incurred in proportion to the estimated total costs of the individual work in progress. When the selling price of the individual work in progress cannot be determined reliably, the selling price is measured at the costs incurred or at net realisable value, if this is lower. The individual work in progress is recognised in the statement of financial position under accounts receivables or liabilities. Net assets consist of the sum of the work in progress, where the selling price of the work performed exceeds invoicing on account. Net liabilities consist of the sum of the work in progress, where invoicing on account exceeds the selling price. Costs in connection with sales work and the procurement of contracts are recognised in the income statement when incurred. PrepaymentsPrepayments recognised under assets comprise incurred costs concerning the following financial year. Cash and cash equivalentsCash and cash equivalents comprise cash at bank and on hand. EquityRevaluation reserveThe 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. Income tax and deferred taxCurrent tax liabilities and current tax receivable are recognised in the statement of financial position as calculated tax on the taxable income for the year, adjusted for tax of previous years' taxable income and for tax paid on account. Deferred tax is measured based on the tax rules and tax rates applying under the legislation prevailing on the reporting date when the deferred tax is expected to be released as current tax. Changes in deferred tax due to changed tax rates are recognised in the income statement, except for items included directly in the equity. Deferred tax assets, including the tax value of tax losses allowed for carryforward, are recognised at the value at which they are expected to be realisable, either by settlement against tax of future earnings or by set-off in deferred tax liabilities within the same legal tax unit. Any deferred net tax assets are measured at net realisable value. Liabilities other than provisionsOther liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value. Deferred incomePayments received concerning future income are recognised under deferred income. 10.Charges and securityThere has been provided security in Position Green Denmark ApS' assets. The carrying amount of these assets is 8.037 t.DKK  at 31 December 2025. 11.Contractual obligations and contingencies, etc.Lease liabilities:Position Green Denmark ApS has entered into lease obligations that can be terminated at the earliest on July 31, 2026, with 6 months' notice. The total lease obligation amounts to 734 t.DKK. 12.Related partiesConsolidated financial statementsThe parent company of Position Green Denmark ApS is POSITION GREEN GROUP HOLDING AS, located at Filipstad brygge 2, 0252 Oslo, Norway, reg. no. 928 053 830. The consolidated financial statements are available upon request from this address.