32284264 2024-01-01 2024-12-31 32284264 2024-01-01 2024-12-31 1 32284264 2024-01-01 2024-12-31 1 32284264 2024-01-01 2024-12-31 2 32284264 2024-01-01 2024-12-31 3 32284264 2024-01-01 2024-12-31 1 32284264 2024-12-31 32284264 2023-12-31 fsa:ContributedCapitalMember 32284264 2023-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 32284264 2023-12-31 fsa:ReserveForLoansAndCollateralsMember 32284264 2023-12-31 fsa:RetainedEarningsMember 32284264 2023-12-31 32284264 2024-01-01 2024-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 32284264 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 32284264 2024-12-31 fsa:ContributedCapitalMember 32284264 2024-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 32284264 2024-12-31 fsa:ReserveForLoansAndCollateralsMember 32284264 2024-12-31 fsa:RetainedEarningsMember 32284264 2023-01-01 2023-12-31 iso4217:DKK xbrli:pure The Board of Directors and the Executive Board have today considered and approved the annual report of SPG SIGTEVÆV ApS for the financial year 01.01.2024 - 31.12.2024. 15765499 13903197 The annual report is presented in accordance with the Danish Financial Statements Act. 11482730 11566836 In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024. 1061417 1081582 We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. 55074 0 We recommend the annual report for adoption at the Annual General Meeting. 3166278 1254779 Middelfart 938302 881058 Gunleif Mouritzen 86374 132575 Bo Peter Cederberg 408319 0 Henrik Peder Cederberg 1573876 1585654 Gunleif Mouritzen 3025397 682758 To the shareholders of SPG SIGTEVÆV ApS 470832 -12448 We have performed an extended review of the financial statements of SPG SIGTEVÆV ApS for the ​financial year 01.01.2024 - 31.12.2024, 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. ​Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s ​financial position at. 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024 in accordance with the Danish Financial Statements Act. 2554565 695206 We conducted our extended review in accordance with the assurance engagement standard for small enterprises as issued by the Danish Business Authority and the standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. 2554565 695206 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, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so. Our responsibility is to express a conclusion on the financial statements. This requires that we plan and ​perform procedures to obtain limited assurance about our conclusion on the financial statements and that ​we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion.​​An extended review consists of making inquiries, primarily of Management and, if appropriate, of other entity ​personnel, performing analytical and the specifically required supplementary procedures as well as evaluating ​the evidence obtained.​​The procedures performed in an extended review are less in scope than in an audit, and accordingly we do ​not express an audit opinion on the financial statements. 31439315 31870532 1479566 1797915 Management is responsible for the management commentary. Our conclusion 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 extended review 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 extended review 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 financial statements and has been prepared in accordance with the requirements in the relevant law and regulations. We did not identify any material misstatement of the management commentary. 32918881 33668447 2024736 1086434 Kolding 2238000 2460793 Lars Bjerregaard Nielsen 500000 500000 mne29393 4762736 4047227 State Authorised Public Accountant 37681617 37715674 Primary activitiesThe Company’s activity consists of production and sale of wire mesh screens, rubber screen cloth and polyurethane screen cloth as well as related activities. 7980978 8663736 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. 7980978 8663736 Consolidated financial statementsReferring to section 112(1) of the Danish Financial Statements Act, no consolidated financial statements have been prepared. 3634648 3146541 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. 309680 0 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. 182800 2421 Gross profit or lossGross profit or loss comprises revenue, changes in inventories of finished goods, other operating income, cost of raw materials and consumables and external expenses. 303005 258 RevenueRevenue from the sale of manufactured goods and goods for resale is recognised in the income statement ​when delivery is made and risk has passed to the buyer. Contract work in progress is included in revenue based on the stage of completion so that revenue corresponds to the selling price of the work performed in the financial year (the percentage-of-completion method). 105690 168000 40978 34448 Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities, including profit from the sale of intangible assets and property, plant and equipment, and salary refunds. 493487 255297 Costs of raw materials and consumablesCosts of raw materials and consumables comprise the consumption of raw materials and consumables for the financial year after adjustment for changes in inventories of these goods from the beginning to the end of the year. This item includes shrinkage, if any, and normal writedowns of the relevant inventories. 5070288 3606965 Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets. 264447 97725 Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff. 13315713 12368426 Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating toproperty, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and losses from the sale of intangible assets and property, plant and equipment. 50997330 50084100 Other operating expensesOther operating expenses comprise expenses of a secondary nature as viewed in relation to the Entity’s primary activities, including loss from the sale of intangible assets and property, plant and equipment. 226000 226000 Income from investments in group enterprisesIncome from investments in group enterprises comprises the pro rata share of the individual enterprises’ profit/loss after full elimination of intra-group profits or losses. 1819360 881058 Other financial income from group enterprisesOther financial income from group enterprises comprises interest income etc. on receivables from group enterprises.Other financial incomeOther financial income comprises dividends etc. received on other investments, interest income, including interest income on receivables from group enterprises, net capital or exchange gains on securities, payables and transactions in foreign currencies, amortisation of financial assets, and tax relief under the Danish Tax Prepayment Scheme etc. 500000 500000 14287239 12670976 Other financial expensesOther financial expenses comprise interest expenses,including interest expenses on payables to group enterprises, net capital or exchange losses on securities, payables and transactions in foreign currencies, amortisation of financial liabilities, and tax surcharge under the Danish Tax Prepayment Scheme etc. 16832599 14278034 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. 1434500 967000 Property, plant and equipmentLand and buildings, plant and machinery, and other 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 Buildings50 yearsOther fixtures and fittings, tools and equipment3-5 yearsPlant and machinery3-5 years Estimated useful lives and residual values are reassessed annually. Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount. 1434500 967000 Investments in group enterprisesInvestments in group enterprises are recognised and measured according to the equity method. This means that investments are measured at the pro rata share of the enterprises’ equity value and plus or minus unrealised intra-group profits or losses. Refer to the above section on business combinations for more details about the accounting policies used on acquisitions of investments in group enterprises. Group enterprises with negative equity value are measured at DKK 0. Any receivables from these enterprises are written down to net realisable value based on a specific assessment. If the Parent has a legal or constructive obligation to cover the liabilities of the relevant enterprise, and it is probable that such obligation will involve a loss, a provision is recognised that is measured at present value of the costs necessary to settle the obligations at the balance sheet date. Upon distribution of profit or loss, net revaluation of investments in group enterprises is transferred to the reserve for net revaluation according to the equity method in equity. 15592460 16142894 ReceivablesReceivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts. 15592460 16142894 InventoriesInventories are measured at the lower of cost using the FIFO method and net realisable value. ​​Cost consists of purchase price plus delivery costs. Cost of manufactured goods and work in progress consists ​of costs of raw materials, consumables, direct labour costs and indirect production costs.​​Indirect production costs comprise indirect materials and labour costs, costs of maintenance of, depreciation ​of and impairment losses relating to machinery, factory buildings and equipment used in the manufacturing ​process, and costs of factory administration and management. Finance costs are not included in cost. ​​The net realisable value of inventories is calculated as the estimated selling price less completion costs and ​costs incurred to execute sale. 554234 527105 Contract work in progressContract work in progress is measured at the selling price of the work carried out at the balance sheet date. The selling price is measured based on the stage of completion and the total estimated income from the individual contracts in progress. Usually, the stage of completion is determined as the ratio of actual to total budgeted consumption of resources. If the selling price of a project in progress cannot be made up reliably, it is measured at the lower of costs incurred and net realisable value. Each contract in progress is recognised in the balance sheet in receivables or liabilities other than provisions, depending on whether the net value, calculated as the selling price less prepayments received, is positive or negative. Costs of sales work and of securing contracts, and finance costs are recognised in the income statement as incurred. However, costs which arise directly from securing contracts and which are expected to be recovered, are recognised over the term of the contract. 0 807998 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.Joint taxation contributions receivable or payableCurrent joint taxation contributions payable or joint taxation contributions receivable are recognised in the balance sheet, calculated as tax computed on the taxable income for the year, which has been adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement. 793809 1184900 13715367 14340755 PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost. 1887136 1585414 CashCash comprises cash in hand and bank deposits. 187225 250000 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.​​Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at ​their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.​ 17137771 18696172 Mortgage debtAt the time of borrowing, mortgage debt to mortgage credit institutions is measured at cost which corresponds to the proceeds received less transaction costs incurred. Mortgage debt is subsequently measured at amortised cost. This means that the difference between the proceeds at the time of borrowing and the nominal repayable amount of the loan is recognised in the income statement as a financial expense over the term of the loan applying the effective interest method.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. 32730231 34839066 50997330 50084100 Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income is measured at cost. 226000 23 true 881058 Grundlag for konklusion 500000 Konklusion 12670976 2025-02-26 2025-02-26 938302 true 1616263 33963556 2023-01-01 226000 2023-12-31 1819360 Kolding 500000 6000 14287239 4 Egtved Allé 1 Staff costs2024 DKK2023 DKKWages and salaries10,123,71110,136,525Pension costs1,097,4011,161,621Other social security costs261,618268,69011,482,73011,566,836Average number of full-time employees2123 Deloitte Statsautoriseret Revisionspartnerselskab 21 Middelfart 2 Depreciation, amortisation and impairment losses2024 DKK2023 DKKDepreciation of property, plant and equipment1,061,4171,081,5821,061,4171,081,582 Middelfart 3 Other financial income 2024 DKK2023 DKKOther interest income3,0050Exchange rate adjustments405,3140408,3190 5500 4 Other financial expenses2024 DKK2023 DKKFinancial expenses from group enterprises565,230599,486Other interest expenses1,004,846804,645Exchange rate adjustments088,171Other financial expenses3,80093,3521,573,8761,585,654 Regnskabsklasse B 5 Tax on profit/loss for the year2024​DKK2023​DKKCurrent tax3,3320Change in deferred tax467,50022,000Refund in joint taxation arrangement0(34,448)470,832(12,448) Erklæring om udvidet gennemgang 6 Property, plant and equipmentLand and buildings DKKOther fixtures and fittings, tools and equipment DKKCost beginning of year33,289,5684,316,205Additions127,500399,425Disposals0(290,000)Cost end of year33,417,0684,425,630Depreciation and impairment losses beginning of year(1,419,036)(2,518,290)Depreciation for the year(558,717)(502,700)Reversal regarding disposals074,926Depreciation and impairment losses end of year(1,977,753)(2,946,064)Carrying amount end of year31,439,3151,479,566 2024-12-31 7 Financial assetsInvestments in group enterprises​DKKReceivables from group enterprises​DKKReceivables from owners and management​DKKCost beginning of year205,3762,460,793500,000Additions0215,4370Disposals0(438,230)0Cost end of year205,3762,238,000500,000Revaluations beginning of year881,05800Share of profit/loss for the year938,30200Revaluations end of year1,819,36000Carrying amount end of year2,024,7362,238,000500,000Investments in subsidiariesRegistered inCorporate formEquity​interest​%Velox ApSMiddelfart, DKApS71.00HB Service GmbhGermanyGmbh95.00 2024-01-01 8 Receivables from owners and managementBoard of Directors DKKReceivables500,000Interest rate (%)1 9 Non-current liabilities other than provisionsDue within 12 months 2024 DKKDue within 12 months 2023 DKKDue after more than 12 months 2024 DKKOutstanding after 5 years 2024 DKKMortgage debt554,234527,10515,592,46013,194,872554,234527,10515,592,46013,194,872 2 10 Unrecognised rental and lease commitments2024 DKK2023 DKKLiabilities under rental or lease agreements until maturity in total1,228,100280,000 Barmstedt Alle 11 Assets charged and collateralBank debt is secured on a deposited mortgage deed registered to the mortgagor of a nominal value of DKK 17,127 k on the property, and a floating charge has been provided of a nominal value of DKK 1,000k on intangible​assets and property, plant and equipment, unsecured claims from sale of goods and services as well as inventories. ​ ​The carrying amount of mortgaged properties is DKK 31,439 k, and the carrying amount of intangible assets and property, plant and equipment, unsecured claims from sale of goods and services as well as inventories charged is DKK 13,095 k. ​ ​ SPG SIGTEVÆV ApS 32284264 33963556 2300 København S Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab Årsrapport 2025-03-15 Bo Peter Cederberg