30359461 2025-01-01 2025-12-31 30359461 2025-01-01 2025-12-31 1 30359461 2025-01-01 2025-12-31 2 30359461 2025-01-01 2025-12-31 1 30359461 2024-01-01 2024-12-31 30359461 2025-12-31 30359461 2024-12-31 30359461 2024-12-31 fsa:ContributedCapitalMember 30359461 2024-12-31 fsa:RetainedEarningsMember 30359461 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 30359461 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 30359461 2025-01-01 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 30359461 2025-12-31 fsa:ContributedCapitalMember 30359461 2025-12-31 fsa:RetainedEarningsMember 30359461 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 30359461 2025-01-01 2025-12-31 fsa:ShorttermDeferredIncomeMember iso4217:DKK xbrli:pure Annual report 2026-05-07 Anders Fisker The Executive Board has today considered and approved the annual report of Zeuxion ApS for the financial year 01.01.2025 - 31.12.2025. The annual report is presented in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2025and of the results of its operations for the financial year 01.01.2025 - 31.12.2025. We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. We recommend the annual report for adoption at the Annual General Meeting. Værløse Per Flemming Hansen Anders Fisker To the owners of Zeuxion ApS We have audited the financial statements of Zeuxion ApS for the financial year01.01.2025 - ​31.12.2025, which comprise the income statement, balance sheet, statement of changes in equity and ​notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.​​ ​​In our opinion, the financial statements give a true and fair view of the Entity’s financial position at31.12.2025and of the results of its operations for the financial year 01.01.2025 - 31.12.2025 in accordance with the Danish Financial Statements Act. 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 Entity 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 Entity’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 Entity 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 Entity’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 Entity’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 ​Entity 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.We communicate with those charged with governance regarding, among other matters, the planned scope ​and timing of the audit and significant audit findings, including any significant deficiencies in internal control ​that we identify during our audit. Management is responsible for the management commentary. ​​Our opinion on the financial statements does not cover the management commentary, and we do not express ​any form of assurance conclusion thereon. ​​In connection with our audit of the financial statements, our responsibility is to read the management ​commentary and, in doing so, consider whether the management commentary is materially inconsistent with ​the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. ​​Moreover, it is our responsibility to consider whether the management commentary provides the information ​required by relevant law and regulations.Based on the work we have performed, we conclude that the management commentary 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 the management commentary.​ København Deloitte Statsautoriseret Revisionspartnerselskab 33963556 Christian Sanderhage State Authorised Public Accountant mne23347 Primary activitiesThe Company’s objective is to render design service for electronics and electronic companies, trade and investment and other related activities. Research and development activitiesZeuxion have invested into a 800GE MAC chip interface IP block to ensure Zeuxion is at the forefront in the MAC market, and several customers have already requested the 800GE MAC IP. Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. 30519766 30004204 24163342 22256026 617322 258776 5739102 7489402 0 242916 213402 15678 5525700 7716640 1233268 1709492 4292432 6007148 6000000 6000000 0 6000000 -1707568 -5992852 4292432 6007148 896854 0 896854 0 347894 515088 347894 515088 231725 231725 231725 231725 1476473 746813 10454031 14438075 25000 0 366084 181237 172232 0 76842 99452 11094189 14718764 1572638 494440 12666827 15213204 14143300 15960017 125100 125100 3651357 5358925 6000000 6000000 9776457 11484025 0 11500 0 11500 284877 20541 0 638328 4081966 2344432 0 1461191 4366843 4464492 4366843 4464492 14143300 15960017 125100 5358925 6000000 11484025 0 6000000 6000000 -1707568 6000000 4292432 125100 3651357 6000000 9776457 1 Staff costs2025​DKK2024​DKKWages and salaries23,379,30821,481,235Pension costs538,319499,691Other social security costs245,715275,10024,163,34222,256,026Average number of full-time employees2727In this current financial year there has been a additional pay out on 2 m. kr. as a bonus. This is not a part of the normal payroll cost for future financial years. 27 27 2 Depreciation, amortisation and impairment losses2025​DKK2024​DKKAmortisation of intangible assets298,9510Depreciation of property, plant and equipment318,371258,776617,322258,776 3 Tax on profit/loss for the year2025​DKK2024​DKKCurrent tax1,269,7681,732,482Change in deferred tax(36,500)(22,990)1,233,2681,709,492 4 Intangible assetsCompleted development projects​DKKAdditions1,195,805Cost end of year1,195,805Amortisation for the year(298,951)Amortisation and impairment losses end of year(298,951)Carrying amount end of year896,854 5 Property, plant and equipmentOther fixtures and fittings, tools and equipment​DKKCost beginning of year1,259,002Additions151,177Cost end of year1,410,179Depreciation and impairment losses beginning of year(743,914)Depreciation for the year(318,371)Depreciation and impairment losses end of year(1,062,285)Carrying amount end of year347,894 6 Financial assetsDeposits​DKKCost beginning of year231,725Cost end of year231,725Carrying amount end of year231,725 7 Prepayments Prepayments comprises licens etc. Related to subsequent financial years. 8 Deferred incomeDeferred income comprise revenue related to subsequent financial years. This also includes invoices on account whit a agreement to deliver a services of DKK 1.737.311. These invoices on account are not settled as of 31.12.2025 and are as such also a part of trade receviables. 9 Other unrecognised commitmentsUnrecognised rental and lease commitments2025​DKK2024​DKKLiabilities under rental or lease agreements until maturity in total195,657192,425 10 Non-arm’s length related party transactionsOnly related party transactions not conducted on an arm’s length basis are disclosed in the annual report.​ No such transactions have been conducted in the financial year. This annual report has been presented in accordance with the provisions of the Danish Financial Statements ​Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year. Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic ​benefits will flow to the Entity, and the value of the asset can be measured reliably. ​​Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a ​result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the ​value of the liability can be measured reliably. ​​On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial ​recognition is effected as described below for each financial statement item. ​​Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm ​or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and ​measurement. ​​Income is recognised in the income statement when earned, whereas costs are recognised by the amounts ​attributable to this financial year. Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses. Gross profit or lossGross profit or loss comprises revenue and external expenses. RevenueRevenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff. Depreciation, amortisation and impairment lossesDepreciation and impairment losses relating to property, plant and equipment comprise amortisation, depreciation and impairment losses for the financial year, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of property, ​plant and equipment. Other financial incomeOther financial income comprises interest income, transactions in foreign currencies, and tax relief under the Danish Tax Prepayment Scheme etc. Other financial expensesOther financial expenses comprise interest expenses, transactions in foreign currencies, and tax surcharge under the Danish Tax Prepayment Scheme etc. Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the ​income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity. Intellectual property rights etc.Intellectual property rights etc. comprise development projects completed with related intellectual property rights, acquired intellectual property rights and prepayments for intangible assets. Development projects on clearly defined and identifiable products and processes, for which the technical rate ​of utilisation, adequate resources and a potential future market or development opportunity in the enterprise ​can be established, and where the intention is to manufacture, market or apply the product or process in question, are recognised as intangible assets. Other development costs are recognised as costs in the income ​statement as incurred. When recognising development projects as intangible assets, an amount equalling ​the costs incurred less deferred tax is taken to equity in the reserve for development costs that is reduced ​as the development projects are amortised and written down.​​ ​​The cost of development projects comprises costs such as salaries and amortisation that are directly and ​indirectly attributable to the development projects.​​Completed development projects are amortised on a straight-line basis using their estimated useful lives ​which are determined based on a specific assessment of each development project. If the useful life cannot ​be estimated reliably, it is fixed at 10 years. For development projects protected by intellectual property rights, the maximum period of amortisation is the remaining duration of the relevant rights. The amortisation periods used are 4 years. ​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount. Property, plant and equipmentOther fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. Land is not depreciated.​​Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. ​​The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:Useful life Other fixtures and fittings, tools and equipment4-5 yearsItems of property, plant and equipment are written down to the lower of recoverable amount and carrying ​amount. ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and ​doubtful debts. Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. Tax payable or receivableCurrent tax payable or receivable is recognised in the balance sheet, stated as tax computed on this year's ​taxable income, adjusted for prepaid tax. PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at ​cost. CashCash comprises bank deposits. DividendDividend is recognised as a liability at the time of adoption at the general meeting. Proposed dividend for ​the financial year is disclosed as a separate item in equity. Extraordinary dividend adopted in the financial ​year is recognised directly in equity when distributed and disclosed as a separate item in Management's ​proposal for distribution of profit/loss. Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income ​is measured at cost. true Grundlag for konklusion Konklusion 2026-05-07 2026-05-07 true 2024-01-01 2024-12-31 København S 2300 6 Weidekampsgade Furesø Værløse 3500 Regnskabsklasse B Revisionspåtegning 2025-12-31 2025-01-01 25 Lejrvej Zeuxion ApS 30359461 33963556 2300 København S Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab