28305842 2025-01-01 2025-12-31 28305842 2025-01-01 2025-12-31 2 28305842 2025-01-01 2025-12-31 1 28305842 2025-01-01 2025-12-31 1 28305842 2025-01-01 2025-12-31 2 28305842 2025-01-01 2025-12-31 3 28305842 2025-01-01 2025-12-31 1 28305842 2024-06-01 2024-12-31 28305842 2025-12-31 28305842 2024-12-31 28305842 2025-01-01 d:ContributedCapitalMember 28305842 2025-01-01 d:ReserveForDevelopmentExpenditureMember 28305842 2025-01-01 d:RetainedEarningsMember 28305842 2025-01-01 2025-12-31 d:ContributedCapitalMember 28305842 2025-01-01 2025-12-31 d:ReserveForDevelopmentExpenditureMember 28305842 2025-01-01 2025-12-31 d:RetainedEarningsMember 28305842 2025-12-31 d:ContributedCapitalMember 28305842 2025-12-31 d:ReserveForDevelopmentExpenditureMember 28305842 2025-12-31 d:RetainedEarningsMember 28305842 2025-01-01 d:CompletedDevelopmentProjectsMember 28305842 2025-01-01 2025-12-31 d:CompletedDevelopmentProjectsMember 28305842 2025-12-31 d:CompletedDevelopmentProjectsMember 28305842 2025-01-01 d:FixturesFittingsToolsAndEquipmentMember 28305842 2025-01-01 d:LeaseholdImprovementsMember 28305842 2025-01-01 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 28305842 2025-01-01 2025-12-31 d:LeaseholdImprovementsMember 28305842 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 28305842 2025-12-31 d:LeaseholdImprovementsMember iso4217:DKK xbrli:pure 2024-06-01 false Baker Tilly Denmark 35257691 Regnskabsklasse B Revisionspåtegning Baker Tilly Denmark Godkendt Revisionspartnerselskab 35257691 Poul Bundgaards Vej 1, 1. 2025-12-31 2500 Valby 2025-01-01 2024-12-31 Michael Monefeldt Albek true 2026-05-04 CaseWare-FSR false false false false Årsrapport Bestyrelsen og direktionen har dags da­to be­hand­let og god­kendt års­rap­por­ten for regn­skabs­året 1. januar - 31. december 2025 for SecureDevice A/S. The supervisory board and executive board have today discussed and approved the annual report of SecureDevice A/S 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 is approved at the annual general meeting. Michael Monefeldt Albek direktør Pascal Keller formand Michael Monefeldt Albek Christian Peter Renzo Tonolini Til kapitalejeren i SecureDevice A/S To the shareholder of SecureDevice A/S Konklusion Vi har re­vi­de­ret års­regn­ska­bet for SecureDevice A/S 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 SecureDevice A/S 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. København 2026-05-04 Baker Tilly Denmark Henrik Ulvsgaard statsautoriseret revisor mne21318 SecureDevice A/S Gladsaxevej  384 D 2860  Søborg 28305842 2004-12-16 Gladsaxe 35257691 Poul Bundgaards Vej 1, 1. 2500 Valby Selskabets væ­sent­lig­ste ak­ti­vi­te­terSecureDevice A/S er et IT-sikkerhedshus med kontorer i Danmark og Sverige. Selskabets kerneforretning er rådgivning om og levering af markedsledende IT-sikkerhedsløsninger og Security-as-a-Service til nordeuropæiske top 500-virksomheder, SMV-markedet og offentlige institutioner.   SecureDevices kernekompetencer ligger inden for følgende IT-sikkerhedshoved-områder:   Detection, Response and Recovery Business reviewSecureDevice A/S is an IT-security corporation with offices in Denmark and Sweden. The company’s core business is consulting activities regarding deliverance of market leading IT-security solutions and Security-as-a-service to top 500 companies in Northern Europe, small-medium-sized companies and public institutions.   SecureDevice’s core competencies are within the following IT-security areas:   Detection, Response and Recovery Udviklingen i aktiviteter og økonomiske forholdDen forholdsmæssige nedgang i omsætningen sammenlignet med forrige regnskabsperiode, er et  mix af flere forhold. Security-as-a-service omsætningen er steget med over 60% sammenlignet med kalenderåret 2024, herunder er både den hjemlige og europæiske omsætning steget, mens sidstnævnte er tredoblet. Forventningerne til væksten i Tyskland er fortsat ikke blevet indfriet, fordi afmatningen i den tyske økonomi også i 2025 har haft negative konsekvenser for vækstmulighederne. Samtidig er salget af licenser reduceret kraftigt og er primært koncentreret til kunder, der også køber andre produkter i porteføljen. Investeringer i udvikling går fortsat til vores produkter, hvor omfangsrig brug af AI sikrer effektiv udnyttelse af medarbejdernes tid. I år har vi desuden haft fokus på at formindske afhængighed og sårbarhed overfor 3. parts software i vores løsninger samt at kunne levere en fuld europæisk løsning.Egenkapitalen er i året tilført kr. 1.100.000 via en gældskonvertering fra moderselskabet.   Selskabets resultatopgørelse for regnskabsåret 2025 udviser som en følge af ovenstående et underskud på kr. 5.279.791, og selskabets balance pr. 31. december 2025 udviser en egenkapital på kr. 916.779. Årets resultat er utilfredsstillende.   Det udskudte skatteaktiv, der vedrører skattemæssige underskud til fremførsel, er indregnet på baggrund af den forventede indtjening i virksomhedens Mid-term plan for de kommende fem år. Planen er udarbejdet på et konservativt grundlag.    Som led i virksomhedens strategiske tilpasning er der gennemført en omstrukturering af indtægtsstrømmene, ligesom der på tværs af leverancer arbejdes målrettet med at tilpasse forretningen til markedssituationen.                              På den baggrund forventer vi, at virksomheden vil kunne udnytte 80 % af det samlede uudnyttede skattemæssige underskud inden for den femårige planperiode.    Ledelsen vurderer, at der til trods for årets negative resultat og den lave egenkapital fortsat er grundlag for at aflægge årsrapporten på basis af fortsat drift. Vurderingen understøttes af moderselskabets finansieringstilsagn, selskabets forventninger til fremtidig indtjening samt igangsatte forretningsmæssige tiltag. De væsentligste usikkerheder vedrører markedsforhold, særligt udviklingen i Tyskland, samt tempoet i realiseringen af forventet omsætningsvækst i Security as a Service segmentet.   Moderselskabet har afgivet en erklæring om at stille den nødvendige finansiering til rådighed for selskabet. Gruppen har stærk soliditet og væsentligt kapitalberedskab. Denne støtte, sammen med udsigten til forbedrede resultater og den positive udvikling i Security as a Service forretningen, vurderes at udgøre et tilstrækkeligt finansielt grundlag. Financial review The proportional decline in revenue compared to the previous financial period is a mix of several factors. Security-as-a-service revenue has increased by over 60% compared to the calendar year 2024, including both domestic and European revenue, while the latter has tripled. Growth expectations in Germany have still not been met, because the slowdown in the German economy has also had negative consequences for growth opportunities in 2025. At the same time, license sales have been reduced sharply and are primarily concentrated on customers who also purchase other products in the portfolio. Investments in development continue to go to our products, where extensive use of AI ensures efficient use of employee time. This year, we have also focused on reducing dependence and vulnerability to 3rd party software in our solutions and being able to deliver a full European solution.Equity was increased by DKK 1.100.000 via a debt conversion from the parent company.   Therefore, the company's income statement for the financial year 2025 shows a deficit of kr. 5.279.791, and the balance sheet on 31 December 2025 shows equity of kr. 916.779. The result for the yearis considered unsatisfactory.   The deferred tax asset, which relates to tax losscarryforwards, has been recognized based on theexpected earnings reflected in the Company’s Midterm Plan for the next five years. The plan hasbeen prepared on a relatively conservative basis.   As part of a strategic realignment, the Companyhas restructured its revenue streams, andoperationally we are working across severalparameters to adjust to market conditions.     Based on these initiatives, Management expectsthat the Company will be able to utilize 80% of thetotal unutilized tax loss carryforwards within thefive-year planning horizon.   Management assesses that despite the negative result for the year and the low equity, there is still a basis for presenting the financial statements under the going concern assumption. This assessment is supported by the parent company’s financing commitment, the company’s expectations for futureearnings, and the business initiatives that have been initiated. The key uncertainties relate tomarket conditions, particularly developments inGermany, as well as the pace at which theexpected revenue growth in the Security as aService segment is realised.   The parent company has issued a declarationconfirming that it will provide the necessaryfinancing to the company. The group has strong solvency and substantial capital resources. Thissupport, together with the outlook for improvedresults and the positive development in the Securityas a Service business, is considered to provide asufficient financial basis. 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. Virk­som­he­dens vi­den res­sour­cer, hvis de er af sær­lig be­tyd­ning for den frem­ti­di­ge ind­tje­ningSelskabet har i året investeret betydeligt i udviklingsaktiviteter, herunder videreudvikling af platformen og lanceringen af SOAR (Security Orchestration, Automation and Response) systemet. SOAR platformen er et strategisk nøgleprodukt, der styrker selskabets serviceleverancer og har understøttet den fortsatte vækst i Security as a Service segmentet.     Den bogførte værdi af færdiggjorte udviklingsprojekter udgør pr. 31. december 2025 kr. 9 mio., og der er i året foretaget afskrivninger på kr. 2,3 mio.. De aktiverede udviklingsprojekter udgør en væsentlig del af selskabets fremtidige indtjeningsgrundlag.     Udviklingsaktiviteterne har sikret fortsat vækst i Security as a Service segmentet og forventes at bidrage væsentligt til fremtidig indtjening.   Indregningen af de immaterielle aktiver er baseret på ledelsens vurdering af projekternes fremtidige indtjeningsevne og fortsatte kommercielle anvendelighed. The company's knowledge resources if of particular importance to its future earningsThe company has made significant investments in development activities during the year, including further development of the platform and the launch of the SOAR (Security Orchestration, Automation and Response) system. The SOAR platform is a strategic key product that strengthens the company’s service offerings and has supported continued growth within the Security as a Service segment.   The carrying amount of completed development projects amounts to DKK 9 million as of 31 December 2025, and depreciation of DKK 2.3 million has been recognised during the year. The capitalised development projects constitute a significant part of the company’s future earnings base.   The development activities have ensured continued growth in the Security as a Service segment and are expected to contribute substantially to future earnings.   The recognition of the intangible assets is based on management’s assessment of the projects’ future earnings potential and their continued commercial viability. 26857272 10052322 29823034 16008910 2343452 1150826 -5309214 -7107414 33002 11665 2625 42076 -5278837 -7137825 954 -1596374 -5279791 -5541451 0 678752 -5279791 -6220203 9097761 7985753 9097761 7985753 150601 194853 110046 156139 260647 350992 404892 393407 404892 393407 9763300 8730152 9862334 19071825 4508638 7674541 45286 50029 2544864 2530810 3975390 3166859 20936512 32494064 2672388 13753951 23608900 46248015 33372200 54978167 501000 501000 7096247 6228887 -6680468 -1633317 916779 5096570 3700868 12565466 1701848 3985471 3720797 3854916 23331908 29475744 32455421 49881597 32455421 49881597 33372200 54978167 501000 6228887 -1633317 0 867360 -867360 0 -5279791 1100000 501000 7096247 -6680468 27984194 14976832 1525826 821330 313014 210748 29823034 16008910 34 33 954 1022 0 -1597396 14228918 3312897 17541815 -6243165 -2200889 -8444054 9097761   Færdiggjorte udviklingsprojekter  vedrører systemet easycurity, som er en hosted sikkerhedsløsning.   Udviklingsprojekterne omfatter direkte og indirekte omkostninger, der kan henføres til easycurity. Efter færdiggørelsen afskrives udviklingsomkostningerne lineært over den vurderede økonomiske brugstid, der udgør 7 år. Completed development projects concerns easycurity which is a hosted security solution.    The development projects consists of direct- and indirect costs that can be attributed to easycurity. After the completion of the projects these are amortised over the expected use, which management has assesed is 7 years. 728895 215517 52218 0 781113 215517 534042 59378 96470 46093 -630512 105471 150601 110046 Det indregnet skatteaktiv består hovedsagligt af underskud til fremførsel. Der er indregnet 80% af det fremførbare underskud. Selskabet har et ej indregnet skattemæssig underskud svarende til de resterende 20%, hvor skatteværdien udgør DKK 1.202.491. The recognized deferred tax asset mainly consists of tax loss carryforwards. 80% of the tax loss carryforwards has been recognized. The company has an unrecognized tax loss corresponding to the remaining 20%, for which the tax value amounts to DKK 1,202,491. Selskabet har en huslejeforpligtelse som er uopsigelig indtil 1. oktober 2026. Huslejeforpligtelsen udgør t.kr. 578 pr. 31. december 2025.Selskabet er sambeskattet med moderselskabet SITS Denmark ApS (Administrationsselskab) og hæfter solidarisk med øvrige sambeskattede selskaber for betaling af selskabsskat for indkomståret og frem samt for kildeskat på udbytter, renter og royalties. The Company has a lease obligation that is non-terminable until October 1, 2026. The lease obligation amounts to DKK thousand 578 on the 31. december 2025.The company is jointly taxed with its parent company, SITS Denmark ApS (management company), and jointly and severally liable with other jointly taxed entities for payment of income taxes for income year onwards as well as for payment of withholding taxes on dividends, interest and royalties. Årsrapporten for SecureDevice A/S 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. The annual report of SecureDevice A/S 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. 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.Bruttofortjeneste er et sam­men­drag af net­to­om­sæt­ning samt an­dre drifts­ind­tæg­ter med fra­drag af om­kost­ning­er til rå­va­rer og hjæl­pe­ma­te­ri­aler 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 operating income less costs of raw materials and consumables and other external expenses. Indtægter ved salg af varer til videresalg, færdigvarer og licenser indregnes i resultatopgørelsen, forudsat at risikoovergang, sædvanligvis ved levering til køber, er sket, og at indtægten kan opgøres pålideligt og forventes modtaget.    Selskabets primære indtægter fra licenser og de kommercielle kontrakter er baseret på en ”right to access” baseret på (Software as a Service), hvor omsætningen indregnes løbende og i henhold til indgåede kontrakter. Selskabets sekundære indtægter indregnes efter ”right to use”, hvor omsætningen og relaterede omkostninger indregnes på tidspunktet for indgåelse af kontrakter, idet der er tale om salg af tredjepartslicenser. Income from the sale of goods for resale and finished goods as well as licenses are 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.   The company's primary income is from licenses and the comercial conctracts are based on a "right to acces" based on (Software as a Service), where income is recognized continously as agreed in the contracts. The company's secondary income is recognized after "right-to-use" where income and the matching costs, are recognized at the time of agreement, due to the fact that it is a sale from third party licenses. Om­kost­ning­er til rå­va­rer og hjæl­pe­ma­te­ri­al­er in­de­hold­er det for­brug af rå­va­rer og hjæl­pe­ma­te­ri­al­er, der er an­vendt for at op­nå år­ets net­to­om­sæt­ning. Costs of raw materials and consumables include the raw materials and consumables used in generating the year’s revenue. Andre driftsindtægter indeholder regnskabsposter af sekundær karakter i forhold til virksomhedens aktiviteter, herunder fortjeneste ved salg af immaterielle og materielle anlægsaktiver, modtagne godtgørelser fra offentlige myndigheder, driftstabs- og konflikterstatninger samt lønrefusioner. Erstatninger indregnes, når det er overvejende sandsynligt, at virksomheden vil modtage erstatningen. The item Other operating income includes items of a secondary nature relative to the company’s activities, including gains on the sale of intangible assets and items of property, plant and equipment, operating losses, indemnities relating to operating losses and conflicts as well as payroll refunds. Indemnities are recognised when it is more probable than not that the company is going to be indemnified. Andre eksterne omkostninger om­fat­ter om­kost­ning­er til dis­tri­bu­tion, salg, re­kla­me, ad­mi­ni­stra­tion, lo­kal­er mv. Other external costs include expenses related to distribution, sale, advertising, administration, premises 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, gæld og transaktioner i fremmed valuta 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, liabilities and foreign currency transactions, amortisation of financial assets and liabilities and 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. Pro­duk­tions­an­læg og ma­ski­ner samt 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. For eg­ne frem­stil­le­de ak­ti­ver om­fat­ter kost­pri­sen di­rek­te og in­di­rek­te om­kost­nin­ger til ma­te­ri­al­er, kom­po­nen­ter, und­er­le­ve­ran­dør­er og løn.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  Ind­ret­ning af le­je­de lo­ka­ler 5 år  Leasehold improvements 5 years   Items of  plant and machinery and 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. The cost of self-constructed assets comprises direct and indirect costs of materials, components, sub-suppliers and wages.Straight-line depreciation is provided on the basis of the following estimated useful lives of the assets: 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. Ak­tu­el­le skat­te­for­plig­tel­ser og til­go­de­ha­ven­de ak­tuel skat ind­reg­nes i ba­lan­cen som be­reg­net skat af årets skat­te­plig­ti­ge ind­komst, re­gu­le­ret for skat af tid­li­ge­re års skat­te­plig­ti­ge ind­komster samt for be­tal­te a­con­to­skat­ter.Selskabet er sam­be­skat­tet med kon­cern­for­bund­ne dan­ske sel­ska­ber. Den aktuel­le sel­skabs­skat for­de­les mel­lem de sam­be­skat­te­de sel­ska­ber i for­hold til dis­ses skat­te­plig­ti­ge ind­kom­ster og med fuld for­de­ling med re­fu­sion ved­rø­ren­de skat­te­mæs­si­ge un­der­skud. De sam­be­skat­te­de sel­ska­ber ind­går i acon­to­skat­te­ord­nin­gen.Ud­skudt skat må­les ef­ter den ba­lan­ce­o­ri­en­te­re­de gælds­me­to­de af mid­ler­ti­di­ge for­skel­le mel­lem regn­skabs­mæs­sig og skat­te­mæs­sig vær­di af ak­ti­ver og for­plig­tel­ser op­gjort på grund­lag af den plan­lag­te an­ven­del­se af ak­ti­vet hen­holds­vis af­vik­ling af for­plig­tel­sen. Ud­skudt skat må­les til net­to­rea­li­sa­tions­vær­di.Ud­skudt skat må­les på grund­lag af de skat­te­reg­ler og skat­te­sat­ser, der med ba­lan­ce­da­gens lov­giv­ning vil være gæld­en­de, når den ud­skud­te skat for­ven­tes ud­løst som ak­tu­el skat. Æn­dring i ud­skudt skat som føl­ge af æn­drin­ger i skat­te­sat­ser ind­reg­nes i re­sul­tat­op­gø­rel­sen bort­set fra pos­ter, der føres di­rek­te på eg­en­ka­pi­ta­len.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. Current tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account.The company and all its Danish group entities are taxed on a joint basis. The current income tax charge is allocated between the jointly taxed entities relative to their taxable income. Tax losses are allocated based on the full absorption method. The jointly taxed entities are eligible for the Danish Tax Prepayment Scheme.Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value.Deferred tax is measured according to the tax rules and at the tax rates applicable in the respective countries at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax adjustments resulting from changes in tax rates are recognised in the income statement, with the exception of items taken directly to equity.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. Periodeaf­græns­nings­po­ster, ind­reg­net un­der kort­fris­te­de gælds­for­plig­tel­ser, om­fat­ter mod­tag­ne be­ta­lin­ger ved­rø­ren­de ind­tæg­ter i de ef­ter­føl­gen­de år. Deferred income recognised under 'Current liabilities' comprises payments received concerning income in subsequent financial years. Trans­ak­tio­ner i frem­med va­lu­ta om­reg­nes ved første ind­reg­ning til trans­ak­tions­da­gens kurs. Va­lu­ta­kurs­dif­fe­ren­cer, der op­står mel­lem trans­ak­tions­da­gens kurs og kur­sen på be­talings­da­gen, ind­reg­nes i re­sul­tat­op­gø­rel­sen. Hvis va­lu­ta­in­stru­men­ter an­ven­des til si­kring af frem­ti­dige penge­strøm­me, ind­reg­nes urea­li­se­re­de vær­di­re­gu­le­rin­ger di­rek­te på eg­en­ka­pi­ta­len i dags­vær­di­re­ser­ven.Til­go­de­ha­ven­der, gæld og an­dre mo­ne­tæ­re pos­ter i frem­med va­lu­ta om­reg­nes til ba­lan­ce­dagens va­lu­ta­kurs. For­skel­len mel­lem ba­lan­ce­dagens kurs og kur­sen på tids­punk­tet for til­go­de­ha­ven­dets el­ler gælds­for­plig­tel­sens op­stå­en el­ler ind­reg­ning i se­nes­te års­regn­skab ind­reg­nes i re­sul­tat­op­gø­rel­sen. On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and at the date of payment are recognised in the income statement as financial income or financial expenses. If foreign currency instruments are considered cash flow hedges, any unrealised value adjustments are taken directly to a fair value reserve under ‘Equity’.Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses.