39297116 2025-01-01 2025-12-31 1 39297116 2025-01-01 2025-12-31 39297116 2025-01-01 2025-12-31 1 39297116 2024-01-01 2024-12-31 39297116 2025-12-31 39297116 2024-12-31 39297116 2025-01-01 2025-12-31 d:RetainedEarningsMember 39297116 2025-12-31 d:ContributedCapitalMember 39297116 2025-12-31 d:SharePremiumMember 39297116 2025-12-31 d:RetainedEarningsMember iso4217:DKK xbrli:pure Danmark Andre erklæringer uden sikkerhed Regnskabsklasse B Årsrapport Langagervej 1 Beierholm 39297116 2026-05-29 9220 Aalborg Ø 2026-05-29 Erik Christian Løvbjerg Trampe 2024-01-01 2024-12-31 2025-01-01 2025-12-31 Climate Solutions ApS Bernstorffsvej 193 B 2920 Charlottenlund Gentofte Beierholm 32895468 Knud Højgaards Vej 9 2860 Søborg true I have on this day presented the annual report for the financial year 01.01.25 - 31.12.25 for Climate Solutions ApS. The annual report is presented in accordance with the Danish Finan­cial Sta­te­ments Act. The fi­nan­cial sta­te­ments have not been audited, and I declare that the relevant conditions have been met. In my opinion, the financial statements give a true and fair view of the company's assets, liabilities and financial position as at 31.12.25 and of the results of the company's activities for the financial year 01.01.25 - 31.12.25. I believe that the management's review includes a fair review of the matters dealt with in the management's review. The annual report is submitted for adoption by the general meeting. Erik Christian Løvbjerg Trampe To the management of Climate Solutions ApSBased on the company's accounting material and other in­for­ma­tion provided by ma­na­ge­ment, we have compiled the fi­nan­cial sta­te­ments of Climate Solutions ApS for the financial year 01.01.25 - 31.12.25.The fi­nan­cial sta­te­ments comprise in­co­me sta­te­ment, ba­lan­ce sheet, statement of changes in equity and notes to the financial statements, including material accounting policy information.We performed this compilation engagement in accordance with ISRS 4410, Engagements to Compile Financial Statements.We have applied our professional expertise to assist management with the preparation and pre­sen­tation of the fi­nan­cial sta­te­ments in accordance with the Danish Finan­cial Sta­te­ments Act. We have complied with rele­vant provisions of the Danish Act on Appro­ved Auditors and Audit Firms and the code of ethics of International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code), including principles of integrity, professional competence and due care.The fi­nan­cial sta­te­ments and the accuracy and com­plete­ness of the in­for­ma­tion used to compile them are management's responsibility.Since a compilation engagement is not an as­su­ran­ce engagement, we are not required to verify the accuracy or completeness of the information pro­vided by management for the compilation of the fi­nan­cial sta­te­ments. Accordingly, we do not express an audit opinion or a review con­clusion on whether the fi­nan­cial sta­te­ments are prepared in accordance with the Danish Finan­cial Sta­te­ments Act. To the management of Climate Solutions ApS Soeborg, Copenhagen Emil Enggaard Knudsen State Authorised Public Accountant mne49135 Primary activitiesThe company's activities is research and development of climate and environment improving and related solutions, technologies and knowledge, as well as servics and consulting tasks within these areas. Development in activities and financial affairsThe income statement for the period 01.01.25 - 31.12.25 shows a profit/loss of DKK -236,542 against DKK -1,191,815 for the period 01.01.24 - 31.12.24. The balance sheet shows equity of DKK 438,486.In 2025, Climate Solutions ApS has focused on further improving and maturing its core product while advancing key preparations for the next development phase. The year has been characterized by continued technical progress combined with a strong emphasis on securing external funding and applying for grants, in order to strengthen the foundation for future development and scaling.Technological progress in 2025 has centered on enhancing the robustness, performance, and scalability of the Ikkaton process. The Company has worked systematically to refine key process elements and to improve the overall integration between technological components, supporting a more mature and reliable product basis for the long-term commercialization pathway.Technological improvements have included:Continued optimization and stabilization of core process steps.Strengthened integration and control across the process to improve operational consistency.Further maturation of the overall solution with a focus on scalability and product readiness.In parallel, we have maintained a strong focus on external funding. Significant time and effort have been devoted to investor outreach as well as the preparation and submission of key grant applications to relevant funds, aimed at securing the resources needed to accelerate development and increase the Company’s capacity to deliver on its strategic objectives.Our patent portfolio has also continued to strengthen in 2025, through the filing of new patents as well as renewals and continued maintenance of existing rights in selected jurisdictions. These patents remain central to protecting our technological advantage and supporting the Company’s long-term positioning.Following the financial year-end, the Company has further strengthened its financial and strategic platform. In 2026, new investors have entered the Company, supporting the basis for continued operations. In addition, the Company has been awarded funding commitments from Innovation Fund Denmark under both the Grand Solutions program and the INNO-CCUS Pool 4 program. In connection with these projects, Climate Solutions ApS has devoted significant efforts to establishing a strong consortium of industrial and academic partners, including engineering companies, universities, and potential off-takers of the Company’s calcium carbonate (CaCO3) product. Together, these developments will enable Climate Solutions ApS to allocate additional resources to further develop, validate, and advance its core technology and commercial product offering.In summary, 2025 has been a year of focused product improvement and strategic funding efforts. With continued strengthening of our patent position and an improved foundation for the next phase, Climate Solutions ApS is well positioned to continue its development. Subsequent eventsNo important events have occurred after the end of the financial year. -269614 -475957 0 554989 63728 63728 -333342 -1094674 0 1763 0 1869 -333342 -1094780 -96800 97035 -236542 -1191815 -236542 -1191815 365839 392939 365839 392939 128201 164829 128201 164829 494040 557768 145402 151026 10219 10219 175135 198968 330756 360213 10451 12861 341207 373074 835247 930842 51016 51016 2493682 2493682 -2106212 -1869670 438486 675028 29834 29834 29834 29834 500 500 366427 225480 366927 225980 366927 225980 835247 930842 Figures in DKKShare capitalShare premiumRetained earningsTotal equityStatement of changes in equity for 01.01.25 - 31.12.25Balance as at 01.01.2551,0162,493,682-1,869,670675,028Net profit/loss for the year00-236,542-236,542Balance as at 31.12.2551,0162,493,682-2,106,212438,486 -236542 51016 2493682 -2106212 0 550000 0 4989 1 1 0 193835 -96800 -96800 3.Contingent liabilitiesOther contingent liabilitiesThe company is taxed jointly with the other companies in the group and has joint, several and unlimited liability for income taxes and any obligations to withhold tax at source on interest, royalties and dividends for the jointly taxed companies. The liability also includes any subsequent corrections to the calculated tax liability as a consequence of changes made to the jointly taxable income etc. The company has no contingent liabilities as at 31.12.25. The annual report is presen­ted in ac­cord­ance with the provisions of the Danish Fi­nan­cial Statements Act (Årsregn­skabs­lov­en) for enterprises in re­port­ing class B with application of pro­vi­sions for a higher reporting class. Basis of recognition and measurementIncome is recognised in the income state­ment as earned, including value adjust­ments of fin­an­cial assets and liabilities. All ex­penses, including depreciation, amortisa­tion, impair­ment losses and write-downs, 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 such assets 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 such liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below.On recognition and measurement, account is taken of foreseeable losses and risks arising before the date at which the annual report is presented and proving or disproving matters arising on or before the balance sheet date. CURRENCYThe annual report is presen­ted in Danish kroner (DKK).On initial recognition, transactions den­ominated in foreign currencies are trans­lated using the exchange rates applicable at the transaction date. Exchange rate differences between the exchange rate applicable at the transaction date and the exchange rate at the date of payment are recognised in the income statement as a financial item. Receivables, payables and other monetary items denominated in foreign currencies are translated using the exchange rates applicable at the balance sheet date. The difference between the ex­change rate applicable at the balance sheet date and at the date at which the receivable or payable arose or was recognised in the latest annual report is recognised under financial income or ex­penses in the income statement. Fixed assets and other non-monetary assets acquired in foreign currencies are translated using historical exchange rates. Gross lossGross loss comprises cost of sales and other external ex­penses. Cost of salesCost of sales comprises cost of sales for the year measured at cost plus any changes in inventories, including write-downs to the extent that these do not exceed normal write-downs. Other external expensesOther external expenses comprise costs re­lating to sales and advertising and administration. Staff costsStaff costs comprise wages and salaries as well as other staff-related costs. De­pre­ci­a­tion, amor­ti­sa­tion and impair­ment lossesThe de­pre­ci­a­tion and amor­ti­sa­tion of in­tan­gi­ble as­sets and prop­er­ty, plant and equip­ment aim at systematic de­pre­ci­a­tion and amor­ti­sa­tion over the expected useful lives of the assets. Assets are de­pre­ci­ated and amor­tised according to the straight-line method based on the following ex­pected useful lives and residual values:The basis of de­pre­ci­a­tion and amor­ti­sa­tion is the cost of the asset less the expected residual value at the end of the useful life. Moreover, the basis of de­pre­ci­a­tion and amor­ti­sa­tion is reduced by any impairment losses. The useful life and residual value are determined when the asset is ready for use and reassessed annually.In­tan­gi­ble as­sets and prop­er­ty, plant and equip­ment are impaired in accordance with the accounting policies referred to in the ‘Impairment losses on fixed assets’ section. Other net financialsInterest income and interest expenses, for­eign exchange gains and losses on trans­ac­tions denominated in foreign currencies etc. are recognised in other net financials. Tax on profit/loss for the yearThe current and deferred tax for the year is recognised in the income statement as tax on the profit/loss for the year with the portion attributable to the profit/loss for the year, and directly in equity with the portion attributable to amounts recognised directly in equity.The company is jointly taxed with Danish consolidated enterprises. In connection with the settlement of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed enterprises in proportion to their tax­able incomes. This means that enter­prises with a tax loss receive joint taxation contributions from enterprises which have been able to use this loss to reduce their own taxable profit. Intangible assetsAcquired rightsAquired rights are measured in the balance sheet at cost less accumulated amortisation and impairment losses.Acquired rights are amortised using the straight-line method based on useful lives, which are stated in the ‘De­pre­ci­a­tion, amor­ti­sa­tion and impair­ment losses’ section.Gains or losses on the disposal of intangible assets are determined as the difference between the selling price, if any, less selling costs and the carrying amount at the date of disposal. Property, plant and equipmentProperty, plant and equipment comprise other fixtures and fittings, tools and equipment.Property, plant and equipment are meas­ured in the balance sheet at cost less accumulated depreciation and impairment losses. Cost comprises the purchase price and expenses resulting directly from the purchase until the asset is ready for use. Interest on loans arranged to finance production is not included in the cost.Property, plant and equipment are depreci­ated using the straight-line method based on useful lives and residual values, which are stated in the ‘De­pre­ci­a­tion, amor­ti­sa­tion and impair­ment losses' section.Gains and losses on the disposal of property, plant and equipment are determined as the difference between the selling price, if any, less selling costs and the carrying amount at the date of disposal less any costs of disposal. Impairment losses on fixed assetsThe carrying amount of fixed assets which are not measured at fair value is assessed annually for indications of impairment over and above what is reflected in de­pre­ci­a­tion and amor­ti­sa­tion.If the company's realised return on an asset or a group of assets is lower than expected, this is considered an indication of impairment.If there are indications of impairment, an impairment test is conducted of individual assets or groups of assets.The assets or groups of assets are impaired to the lower of recoverable amount and carrying amount.The higher of net selling price and value in use is used as the recoverable amount. The value in use is determined as the present value of expected net cash flows from the use of the asset or group of assets as well as expected net cash flows from the sale of the asset or group of assets after the expiry of their useful lives.Impairment losses are reversed when the reasons for the impairment no longer exist. ReceivablesReceivables are measured at amortised cost, which usually corresponds to the nom­inal value, less write-downs for bad debts.Write-downs for bad debts are determined based on an individual assessment of each receivable if there is no objective evidence of individual impairment of a receivable. CashCash includes deposits in bank accounts as well as operating cash. Current and deferred taxCurrent tax payable and receivable is recognised in the balance sheet as tax computed on the basis of the taxable income for the year, adjusted for tax paid on account.Joint taxation contributions payable and receivable are recognised as income tax under receivables or payables in the balance sheet.Deferred tax liabilities and tax assets are recognised on the basis of all temporary differences between the carrying amounts and tax bases of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is non-amortisable for tax purposes and other items where temporary differ­ences, except for acquisitions, have arisen at the date of acquisition without affecting the net profit or loss for the year or the tax­able income. In cases where the tax value can be determined according to different taxation rules, deferred tax is measured on the basis of management’s intended use of the asset or settlement of the liability.Deferred tax assets are recognised, following an assessment, at the expected realisable value through offsetting against deferred tax liabilities or elimination in tax on future earnings.Deferred tax is measured on the basis of the tax rules and at the tax rates which, according to the legislation in force at the balance sheet date, will be applicable when the deferred tax is expected to crystallise as current tax. PayablesShort-term financial payables are measured at amortised cost, normally corresponding to the nominal value of such payables. Other short-term payables are measured at net realisable value.