24223183 2025-01-01 2025-12-31 24223183 2025-01-01 2025-12-31 1 24223183 2025-01-01 2025-12-31 1 24223183 2025-01-01 2025-12-31 1 24223183 2025-01-01 2025-12-31 2 24223183 2025-01-01 2025-12-31 3 24223183 2025-01-01 2025-12-31 4 24223183 2024-01-01 2024-12-31 24223183 2025-12-31 24223183 2024-12-31 24223183 2024-01-01 d:ContributedCapitalMember 24223183 2024-01-01 d:RetainedEarningsMember 24223183 2024-01-01 d:ProposedDividendRecognisedInEquityMember 24223183 2024-01-01 2024-12-31 d:ContributedCapitalMember 24223183 2024-01-01 2024-12-31 d:RetainedEarningsMember 24223183 2024-01-01 2024-12-31 d:ProposedDividendRecognisedInEquityMember 24223183 2025-01-01 d:ContributedCapitalMember 24223183 2025-01-01 d:RetainedEarningsMember 24223183 2025-01-01 d:ProposedDividendRecognisedInEquityMember 24223183 2025-01-01 2025-12-31 d:RetainedEarningsMember 24223183 2025-01-01 2025-12-31 d:ProposedDividendRecognisedInEquityMember 24223183 2025-12-31 d:ContributedCapitalMember 24223183 2025-12-31 d:RetainedEarningsMember 24223183 2025-12-31 d:ProposedDividendRecognisedInEquityMember 24223183 2025-01-01 d:AcquiredIntangibleAssetsMember 24223183 2025-12-31 d:AcquiredIntangibleAssetsMember 24223183 2025-01-01 2025-12-31 d:AcquiredIntangibleAssetsMember 24223183 2025-01-01 d:FixturesFittingsToolsAndEquipmentMember 24223183 2025-01-01 d:LeaseholdImprovementsMember 24223183 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 24223183 2025-12-31 d:LeaseholdImprovementsMember 24223183 2025-01-01 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 24223183 2025-01-01 2025-12-31 d:LeaseholdImprovementsMember 24223183 2025-01-01 d:InvestmentsInGroupEnterprisesMember 24223183 2025-01-01 d:DepositsLongtermInvestmentsAndReceivablesMember 24223183 2025-01-01 2025-12-31 d:InvestmentsInGroupEnterprisesMember 24223183 2025-01-01 2025-12-31 d:DepositsLongtermInvestmentsAndReceivablesMember 24223183 2025-12-31 d:InvestmentsInGroupEnterprisesMember 24223183 2025-12-31 d:DepositsLongtermInvestmentsAndReceivablesMember 24223183 2025-12-31 d:ReceivablesFromOwnersAndManagementMember 24223183 2025-01-01 2025-12-31 d:SubsidiaryMember 1 24223183 2025-12-31 d:SubsidiaryMember 1 24223183 2025-01-01 2025-12-31 d:SubsidiaryMember 2 24223183 2025-12-31 d:SubsidiaryMember 2 iso4217:DKK xbrli:pure Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M 2025-01-01 2025-12-31 2024-01-01 2024-12-31 24223183 efacto A/S Gærtorvet 3 1799 København 1999-07-26 EY Godkendt Revisionspartnerselskab 30700228 Cortex Park Vest 3 5230 Odense M Danmark +45 73 23 30 00 2026-05-20 Johan Bjørling Regnskabsklasse B Revisionspåtegning Grundlag for konklusion Konklusion true true CaseWare Working Papers Bestyrelse og direktion har dags da­to be­hand­let og god­kendt års­rap­por­ten for efacto A/S for regn­skabs­året 1. januar - 31. december 2025. Today, the Board of Directors and the Executive Board have discussed and approved the annual report of efacto 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 samt af 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 financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025. Det er endvidere vores opfattelse, at le­del­ses­be­ret­ningen inde­hol­der en ret­vi­sen­de rede­gø­rel­se for de forhold, beretningen omhandler. Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. Årsrapporten indstilles til ge­ne­ral­for­sam­ling­ens god­ken­del­se. We recommend that the annual report be approved at the annual general meeting. Hellerup 2026-05-20 Johan Bjørling direktør Heiko Bernadus jozef formand Torgeir Letting Mili Orucevic Jan Van Ommen Til kapitalejeren i efacto A/S To the shareholder of efacto A/S Vi har revi­de­ret års­regn­ska­bet for efacto A/S for regn­skabs­året 1. januar - 31. december 2025, der om­fat­ter re­sul­tat­op­gø­rel­se, ba­lan­ce, egen­ka­pi­tal­op­gø­rel­se og no­ter, her­un­der an­vendt regn­skabs­prak­sis. Års­regn­ska­bet ud­ar­bej­des efter års­regn­skabs­lo­ven. We have audited the financial statements of efacto A/S for the financial year 1 January - 31 December 2025, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are 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 samt af resul­ta­tet af sel­ska­bets akti­vi­te­ter for regn­skabs­året 1. januar - 31. december 2025 i over­ens­stem­mel­se med års­regn­skabs­lo­ven. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025 in accordance with the Danish Financial Statements Act. 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". 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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.UafhængighedIndependenceVi er uaf­hæn­gi­ge af sel­ska­bet i over­ens­stem­mel­se med Inter­national Ethics Standards Board for Accountants' inter­na­tio­nale ret­nings­lin­jer for revi­so­rers eti­ske adfærd (IESBA 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.We are independent of the Company in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. 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. 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.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. 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. Our objectives are to obtain reasonable assurance as to 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 the financial statements.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: 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: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. 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.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. 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.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. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.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 kon­klu­sion 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. 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.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. Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.Vi kom­mu­ni­ke­rer med den øver­ste ledel­se om bl.a. 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. 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. Ledelsen er ansvarlig for ledelsesberetningen. Management is responsible for the Management's review.Vores konklusion om års­regn­ska­bet omfat­ter ikke ledel­ses­be­ret­ning­en, og vi ud­tryk­ker ingen form for kon­klu­sion med sik­ker­hed om ledel­ses­be­ret­ning­en. Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.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. In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.Vores ansvar er derudover at overveje, om ledel­ses­be­ret­ning­en inde­hol­der kræ­ve­de oplys­nin­ger i hen­hold til års­regn­skabs­lo­ven. Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.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. Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of the Management's review. Odense 2026-05-20 Søren Smedegaard Hvid statsaut. revisor State Authorised Public Accountant mne31450 Selskabets væsentligste aktivitet er udvikling og handel med software. The company's main activity is development and software sales. Selskabets resultat­opgørelse for 2025 ud­vi­ser et over­skud på 8.652.033 kr. mod et over­skud på 9.141.677 kr. sidste år, og sel­ska­bets balance pr. 31. december 2025 udviser en egen­kapital på 20.357.551 kr. The income statement for 2025 shows a profit of DKK 8,652,033 against a profit of DKK 9,141,677 last year, and the balance sheet at 31 December 2025 shows equity of DKK 20,357,551. I regnskabsåret er det konstateret, at der var en væsentlig fejl i periodiseringen af nettoomsætningen i 2024 og tidligere år. Fejlen er rettet i årsregnskabet for 2025 som en væsentlig fejl, hvorved sammenligningstallene er tilrettet. Der henvises til note 1, Anvendt regnskabspraksis for en yderligere beskrivelse af fejlen. In the fiscal year, a significant error has been identified in the company's accounting of received prepayments from customers with effect on the revenue in 2024 and prior years. The error has been corrected in the annual report for 2025 as a material misstatement and comparative figures have been restated. Refer to the description under accounting policies for further description of the error. Der er ikke efter balancedagen indtruffet begivenheder af væsentlig betydning for virksomhedens finansielle stilling. No events materially affecting the Company's financial position have occurred subsequent to the financial year-end. 24756777 25011640 13776541 13106451 49490 96445 10930746 11808744 240111 56174 73463 183719 11097394 11681199 2445361 2539522 8652033 9141677 17500000 0 -8847967 9141677 20822 32179 20822 32179 1280 8903 2167 32677 3447 41580 116143 116143 352373 343778 5020 7993 473536 467914 497805 541673 1667913 2455143 11998910 12563511 25194 0 21268 24183 13713285 15042837 13563176 2676400 27276461 17719237 27774266 18260910 640275 640275 2217276 11065243 17500000 0 20357551 11705518 2641542 1764903 301467 155791 455964 618964 2442388 2383492 1575354 1632242 7416715 6555392 27774266 18260910 640275 3274519 0 0 -1350953 0 9141677 0 640275 11065243 0 -8847967 17500000 640275 2217276 17500000 Årsrapporten for efacto A/S for 2025 er aflagt i over­ens­stem­mel­se med års­regn­skabs­lo­vens be­stem­mel­ser for klas­se Bvirk­som­he­der med tilvalg af visse bestemmelser for klasse C. The annual report of efacto A/S for 2025 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to reporting class B entities and elective choice of certain provisions applying to reporting class C entities. I henhold til årsregnskabslovens § 110, stk. 1, er der ikke udar­bej­det kon­cern­regn­skab. Pursuant to section 110(1) of the Danish Financial Statements Act, the Company has not prepared consolidated financial statements. Årsregnskabet er aflagt efter sam­me regn­skabs­prak­sis som sidste år. The accounting policies used in the preparation of the financial statements are consistent with those of last year. I regnskabsåret er det konstateret, at der var en væsentlig fejl i periodiseringen af nettoomsætningen i 2024 og 2022/23. Fejlen er rettet i årsregnskabet for 2025 som en væsentlig fejl, hvorved sammenligningstallene er tilrettet. I 2022/23 er nettoomsætningen (bruttofortjenesten) og årets resultat før og efter skat reduceret med 1.350.953 DKK, hvilket er rettet direkte på egenkapitalen pr. 1. januar 2024. I 2024 er nettoomsætningen (bruttofortjenesten) og årets resultat før og efter skat øget med 124.617 kr. Som følge af den væsentlige fejl i 2024 og tidligere år er egenkapitalen pr. 31. december 2024 reduceret med 1.226.336 kr. mens modtagne forudbetalinger fra kunder er øget med 1.226.336 kr. pr. 31. december 2024. Aktiver i alt er ikke påvirket af fejlen. In the fiscal year, a significant error has been identified in the company's accounting of received prepayments from customers with effect on the revenue in 2024 and 2022/23. The error has been corrected in the annual report for 2025 as a material misstatement and comparative figures have been restated. In 2022/23, revenue (gross profit) and profit before and after tax has been decreased with 1.350.953 DKK, which has been corrected directly on the equity as of 1 January 2024. In 2024, revenue (gross profit) and profit before and after tax has been increased with 124.617 DKK. As a result of the significant error in 2024 and prior years, equity as of 31 December 2024 has been reduced by 1.226.336 DKK, while prepayments received from customers has increased by 1.226.336 DKK as of 31 December 2024. Total assets have not been affected by the misstatement. Præsentationsvaluta Reporting currencyÅrsregnskabet er aflagt i danske kroner (DKK). The financial statements are presented in Danish kroner (DKK). Virksomheden har valgt IAS 11/IAS 18 som for­tolk­ningsbidrag for indregning af omsætning. The Company has chosen IAS 11/IAS 18 as interpretation for revenue recognition.Licens- og royaltyindtægter indregnes over afta­le­pe­rioden i over­ens­stem­mel­se med afta­lens ind­hold. Licence and royalty income is recognised over the term of the agreement in accordance with the contents of the agreement.Omsæt­ning fra tids­be­græn­se­de soft­wa­re­li­cen­ser perio­di­se­res og ind­reg­nes line­ært over licens­pe­rio­den i hen­hold til ind­gå­et kon­trakt. Revenue from time limited software licences is accrued and recognised on a straight line basis over the term of the licence according to the terms of the licence agreement.Salg af tids­ube­græn­se­de soft­wa­re­li­cen­ser ind­reg­nes som salg af va­rer, hvor­ved omsæt­ning ind­reg­nes, når over­gang af de væsent­ligste for­de­le og risi­ci til kø­ber har fun­det sted, ind­tæg­ten kan opgø­res påli­de­ligt og beta­ling for­ven­tes mod­ta­get. Sale of indefinite software licences is recognised as sale of goods whereby revenue is recognised when the most significant rewards and risks have been transferred to the buyer and provided the income can be measured reliably and payment is expected to be received.Netto­om­sæt­ning må­les til dags­vær­di­en af det aftal­te veder­lag ekskl. moms og afgif­ter opkræ­vet på veg­ne af tred­je­part. Alle for­mer for afgiv­ne ra­bat­ter ind­reg­nes i netto­om­sæt­nin­gen. Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in revenue. I resultatopgørelsen er nettoomsætning, vareforbrug, andre driftsindtægter og eksterne omkostninger med hen­vis­ning til års­regn­skabs­lo­vens § 32 sam­men­dra­get til én regn­skabs­post benævnt bruttofortjeneste. The items revenue, cost of sales, other operating income and external expenses have been aggregated into one item in the income statement called gross profit in accordance with section 32 of the Danish Financial Statements Act. Andre driftsindtægter indeholder regnskabs­pos­ter af sekundær karakter i forhold til virksom­hed­ens hovedaktivitet, herunder lejeindtægter fra midlertidig udleje af produktionsfaciliteter, forsikringserstatninger, offentlige tilskud, løn­refusioner, fortjeneste ved afhændelse af im­ma­terielle og materielle lang­fris­te­de akti­ver m.v. Erstatninger og tilskud indregnes, når det er overvejende sandsynligt, at de modtages, og betingelserne er opfyldt. Other operating income comprise items secondary to the principal activities of the Company, including rental income from the temporary lease out of production facilities, compensation, government grants, refund of wages and salaries, gains on the disposal of intangible assets and property, plant and equipment, etc. Compensation and grants are recognised when there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received. Vareforbrug omfatter de direkte omkostninger, som er med­gået til at opnå årets netto­om­sæt­ning. Cost of sales includes the cost of goods used in generating the year's revenue. Andre eksterne omkostninger omfat­ter omkost­nin­ger ved­rør­en­de virk­som­he­dens pri­mæ­re akti­vi­tet, der er afholdt i årets løb, her­un­der omkost­nin­ger til dis­tri­bu­tion, salg, rekla­me, admi­ni­stra­tion, loka­ler, tab på debi­to­rer, ydel­ser på ope­ra­tio­nel­le lea­sing­kon­trak­ter m.v. Other external expenses include the year's expenses relating to the Company's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc. Personaleomkostninger omfatter løn og gager, inkl. feriepenge og pensioner, samt andre om­kost­ninger til social sikring m.v. til virk­som­he­dens medarbejdere. Staff costs comprise wages and salaries, including holiday allowance and pensions, and other social security costs, etc., for the Company's employees. Afskrivninger omfatter afskrivninger på immaterielle og materielle aktiver. The item comprises amortisation/depreciation of intangible assets and property, plant and equipment.Kostprisen med fradrag af forventet scrapværdi for erhver­ve­de imma­te­ri­el­le ret­tig­he­der afskri­ves line­ært over den for­ven­te­de brugs­tid. Erhver­ve­de imma­te­ri­el­le ret­tig­he­der omfat­ter paten­ter, ret­tig­he­der og licen­ser. The cost net of the expected residual value for completed development projects and acquired IP rights is amortised over the expected useful life. Acquired IP rights include patents, rights and licences.Afskrivningsgrundlaget, der opgøres som kost­pri­sen med fra­drag af even­tu­el rest­vær­di, afskri­ves line­ært over den for­ven­te­de brugs­tid, base­ret på føl­gen­de vur­de­ring af akti­ver­nes for­ven­te­de brugs­ti­der: The basis of amortisation/depreciation, which is calculated as cost less any residual value, is amortised/depreciated on a straight line basis over the expected useful life. The expected useful lives of the assets are as follows:Erhvervede immaterielle anlægsaktiverAcquired intangible assets 7 år/years Andre anlæg, driftsmateriel og inventarFixtures and fittings, other plant and equipment 5 år/yearsIndretning af lejede lokalerLeasehold improvements 5 år/years Finansielle indtægter og omkostninger ind­reg­nes i resul­tat­op­gø­rel­sen med de beløb, der ved­rø­rer regn­skabs­året. Finan­siel­le pos­ter omfat­ter ren­te­ind­tæg­ter og om­kostninger samt til­læg og godt­gø­rel­se under acon­to­skat­te­ord­nin­gen m.v. Financial income and expenses are recognised in the income statements at the amounts that concern the financial year. Net financials include interest income and expenses as well as allowances and surcharges under the advance-payment-of-tax scheme, etc. Skat af årets resultat omfatter aktuel skat af årets for­ven­te­de skat­te­plig­ti­ge ind­komst og årets regu­le­ring af udskudt skat. Årets skat ind­reg­nes i resul­tat­op­gø­rel­sen med den del, der kan hen­fø­res til årets resul­tat, og i egen­ka­pi­ta­len med den del, som kan hen­fø­res til trans­ak­tio­ner ind­reg­net i egen­ka­pi­ta­len. Tax for the year includes current tax on the year's expected taxable income and the year's deferred tax adjustments. The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement, whereas the portion that relates to transactions taken to equity is recognised in equity.Virksomheden indgår i sambeskatning med øvrige koncern­virk­som­heder. Den dan­ske sel­skabs­skat for­de­les mel­lem over­skuds- og under­skuds­gi­ven­de dan­ske sel­ska­ber i for­hold til dis­ses skat­te­plig­ti­ge ind­komst (fuld for­de­ling). The entity is jointly taxed with other group entities. The total Danish income tax charge is allocated between profit/loss-making Danish entities in proportion to their taxable income (full absorption).Sambeskattede selskaber med overskydende skat godt­gø­res som mini­mum i hen­hold til de gæl­den­de sat­ser for ren­te­godt­gø­rel­ser af admi­ni­stra­ti­ons­sel­ska­bet, lige­som sam­be­skat­te­de sel­ska­ber med rest­skat som mak­si­mum beta­ler et til­læg i hen­hold til de gæl­den­de sat­ser for ren­te­til­læg til admi­ni­stra­ti­ons­sel­ska­bet. Jointly taxed entities entitled to a tax refund are reimbursed by the management company based on the rates applicable to interest allowances, and jointly taxed entities which have paid too little tax pay a surcharge according to the rates applicable to interest surcharges to the management company. Andre immaterielle aktiver omfat­ter andre erhver­ve­de imma­te­ri­el­le ret­tig­he­der. Other intangible assets include other acquired intangible rights.Andre immaterielle aktiver måles til kost­pris med fra­drag af akku­mu­le­re­de af- og ned­skriv­nin­ger. Other intangible assets are measured at cost less accumulated amortisation and impairment losses. Materielle aktiver Property, plant and equipmentMaterielle aktiver måles til kost­pris med fra­drag af akku­mu­le­re­de af- og ned­skriv­nin­ger. Kost­pri­sen omfat­ter anskaf­fel­ses­pri­sen og omkost­nin­ger direk­te knyt­tet til anskaf­fel­sen ind­til det tids­punkt, hvor akti­vet er klar til brug. Items of property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes the acquisition price and costs directly related to the acquisition until the time at which the asset is ready for use. Deposita, finansielle anlægsaktiver Deposits, investmentsFinansielle anlægsaktiver vedrører tilgodehavende depositum. Financial fixed assets relates to payed deposit from office renting. Finansielle anlægsaktiver vedrører tilgodehavende depositum. Financial fixed assets relates to payed deposit from office renting. Kapi­tal­an­de­le i til­knyt­tede virk­som­heder måles til kost­pris. Mod­ta­get udbyt­te, der over­sti­ger den akku­mu­le­re­de ind­tje­ning i den tilknyttede virksomhed i ejer­pe­rio­den, behand­les som en reduk­ti­on af kost­pri­sen. Investments in group entities and associates are measured at cost. Dividends received that exceed the accumulated earnings in the group entity or the associate during the period of ownership are treated as a reduction in the cost of acquisition. Den regnskabsmæssige værdi af immaterielle og materielle anlægsaktiver samt kapi­tal­an­de­le i til­knyt­tede virk­som­he­der vur­de­res årligt for indi­ka­tio­ner på vær­di­for­rin­gel­se. The carrying amount of intangible assets, property, plant and equipment and investments in group entities is assessed for impairment on an annual basis. Foreligger der indikationer på værdiforringelse, fore­ta­ges ned­skriv­nings­test af hvert enkelt aktiv hen­holds­vis grup­pe af akti­ver. Der fore­ta­ges ned­skriv­ning til gen­ind­vin­dings­vær­di­en, hvis den­ne er lave­re end den regn­skabs­mæs­si­ge vær­di. Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount). Som genindvindingsværdi anvendes den højeste værdi af netto­salgs­pris og kapi­tal­vær­di. Kapi­tal­vær­di­en opgø­res som nutids­vær­di­en af de for­ven­te­de netto­pen­ge­strøm­me fra anven­del­sen af akti­vet eller aktiv­grup­pen og for­ven­te­de netto­penge­strøm­me ved salg af akti­vet eller aktiv­grup­pen efter endt brugs­tid. The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life.Tidligere indregnede nedskrivninger til­ba­ge­fø­res, når begrun­del­sen for ned­skriv­nin­gen ikke læn­ge­re består. Previously recognised impairment losses are reversed when the reason for recognition no longer exists. Virksomheden har valgt IAS 39 som fortolk­nings­bidrag for nedskrivninger af finansielle til­gode­ha­ven­der. The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables.Tilgodehavender måles til amortiseret kostpris. Receivables are measured at amortised cost.Der fore­ta­ges ned­skriv­ning til imø­de­gå­el­se af tab, hvor der vur­de­res at være ind­truf­fet en objek­tiv indi­ka­ti­on på, at et til­go­de­ha­ven­de eller en por­te­føl­je af til­go­de­ha­ven­der er vær­di­for­rin­get. Hvis der fore­lig­ger en objek­tiv indi­ka­ti­on på, at et indi­vi­du­elt til­go­de­ha­ven­de er vær­di­for­rin­get, fore­ta­ges ned­skriv­ning på indi­vi­du­elt nive­au. An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis.Nedskrivninger opgøres som forskellen mellem den regnskabsmæssige værdi af tilgodehavender og realisationsværdien. Impairment losses are calculated as the difference between the carrying amount of the receivables and the realisable value. Periodeafgrænsningsposter, indregnet under akti­ver, omfat­ter for­ud­be­tal­te omkost­nin­ger ved­rø­ren­de efter­føl­gen­de regn­skabs­år. Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years. Likvide beholdninger består af indestående likvider i virksomhedens pengeinstitutter. Likvidebeholdninger indregnes til statusdagens kurs. Cash and cash equivalents consist of cash and cash equivalents held in the company's banks. Cash and cash equivalents are recognised at the exchange rate on the financial year end date.Indestående på koncernens cash pool-ordning anses som føl­ge af ord­ning­ens karak­ter ikke som lik­vi­de behold­nin­ger, men ind­går i regn­skabs­pos­ten til­go­de­ha­ven­der hos tilknyttede virk­som­he­der. Given the nature of the Group's cash pool arrangement, cash pool balances are not considered cash, but are recognised under "Receivables from group entities". Foreslået udbytte Proposed dividendsForeslået udbytte indregnes som en forpligtelse på tids­punk­tet for ved­ta­gel­se på den ordi­næ­re gene­ral­for­sam­ling (dekla­re­rings­tids­punk­tet). Udbyt­te, som for­ven­tes udbe­talt for året, vises som en sær­skilt post under egen­ka­pi­ta­len. Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Foreslået udbytte indregnes som en forpligtelse på tids­punk­tet for ved­ta­gel­se på den ordi­næ­re gene­ral­for­sam­ling (dekla­re­rings­tids­punk­tet). Udbyt­te, som for­ven­tes udbe­talt for året, vises som en sær­skilt post under egen­ka­pi­ta­len. Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Virksomheden har valgt IAS 39 som for­tolk­nings­bidrag til indregning og måling af gælds­for­plig­tel­ser. The Company has chosen IAS 39 as interpretation for liabilities.Finan­si­el­le gælds­for­plig­tel­ser ind­reg­nes ved lån­op­ta­gel­se til det mod­tag­ne pro­ve­nu efter fra­drag af afhold­te trans­ak­ti­ons­om­kost­nin­ger. I efter­føl­gen­de peri­oder måles de finan­si­el­le for­plig­tel­ser til amor­ti­se­ret kost­pris, sva­ren­de til den kapi­ta­li­se­re­de vær­di ved anven­del­se af den effek­ti­ve ren­te, så for­skel­len mel­lem pro­ve­nu­et og den nomi­nel­le vær­di ind­reg­nes i resul­tat­op­gø­rel­sen over låne­pe­ri­oden. I finan­si­el­le for­plig­tel­ser ind­reg­nes til­li­ge den kapi­ta­li­se­re­de rest­lea­sing­for­plig­tel­se på finan­si­el­le lea­sing­kon­trak­ter. Financial liabilities are recognised at the date of borrowing at the net proceeds received less transaction costs paid. On subsequent recognition, financial liabilities are measured at amortised cost, corresponding to the capitalised value, using the effective interest rate. Accordingly, the difference between the proceeds and the nominal value is recognised in the income statement over the term of the loan. Financial liabilities also include the capitalised residual lease liability in respect of finance leases.Øvri­ge gælds­for­plig­tel­ser måles til netto­rea­li­sa­ti­ons­vær­di­en. Other liabilities are measured at net realisable value. Modtagne forudbetalinger fra kunder omfatter betaling modtaget fra kunder forud for tidspunktet for levering af den aftalte tjenesteydelse. Prepayments received from customers include payments received from customers prior to the time of delivery of the agreed service. 12770792 11887186 445335 699608 163553 165620 396861 354037 13776541 13106451 17 16 209398 0 30713 56174 2442388 2546492 2973 -162 0 -6808 579500 579500 547321 11357 558678 20822 86656 367571 86656 367571 77753 334894 7623 30510 85376 365404 1280 2167 For oplysning om sikkerhedsstillelser mv. vedrø­ren­de materielle aktiver henvises til note 9. Note9provides more details on security for loans, etc. as regards property, plant and equipment. 116143 343778 0 8595 116143 352373 116143 352373 efacto AS Norge 100 efacto GmbH Tyskland 100 Andre eventualforpligtelserOther contingent liabilities Selskabet har indgået huslejekontrakt, og hæfter i den forbindelse for 566 t.kr. i form af husleje i opsigelsesperioder på 6-12 months. The company has entered into a lease agreement, and is liable for DKK 566 thousand in rent during the notice periods at 6-12 months. Selskabet er sambeskattet med modervirksomheden Visma Danmark Holding A/S som administrationsselskab og hæfter solidarisk med øvrige sambeskattede selskaber for betaling af selskabsskat, kildeskat på renter, royalties og udbytter. The company is jointly taxed with the parent company Visma Danmark Holding A/S as an administration company and is jointly and severally liable with other jointly taxed companies for payment of corporate tax, withholding tax on interest, royalties and dividends. Virksomheden har ikke stillet pant eller anden sikker­hed i aktiver pr. 31. december 2025. The Company has not provided any security or other collateral in assets at 31 December 2025. Visma-koncernen har en cash pool-aftale, hvor det norske moderselskab, Visma AS, i henhold til aftalen er kontoindehaver. Øvrige datterselskaber er underkontoindehavere. Banken kan afregne træk og indeståender med hinanden, således at nettobeløbet udgør et mellemværende mellem banken og Visma AS. For efacto A/S' koncerninterne mellemværende indgår således 9.725 t.kr. i den fælles cash pool-aftale. The Visma Group has a cash pool agreement, under which the Norwegian parent company, Visma AS, is the holder of the agreement, while other group companies are sub-account holders. The bank can settle drafts and deposits with each other, so the net amount constitutes a balance between the bank and Visma AS. For Visma e-conomic A/S's intercompany balances, DKK 9.725 thousand are included in the joint cash pool agreement. Oplysning om koncernregnskaberInformation about consolidated financial statements ModervirksomhedParentHjemstedDomicileRekvirering af modervirk­som­hedens kon­cern­regnskabRequisitioning of the parent company's consolidated financial statements Visma ASOslo, NorgeOslo, Norwaywww.visma.com/Investorswww.visma.com/Investors