42389927 2023-12-31 42389927 2022-12-31 42389927 2023-01-01 fsa:ContributedCapitalMember 42389927 2023-01-01 fsa:RetainedEarningsMember 42389927 2023-01-01 fsa:ProposedDividendRecognisedInEquityMember 42389927 2023-12-31 fsa:ContributedCapitalMember 42389927 2023-12-31 fsa:RetainedEarningsMember 42389927 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 42389927 2023-01-01 fsa:InvestmentsInGroupEnterprisesMember 42389927 2022-01-01 fsa:InvestmentsInGroupEnterprisesMember 42389927 2023-12-31 fsa:InvestmentsInGroupEnterprisesMember 42389927 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember 42389927 2023-12-31 1 fsa:SubsidiaryMember 42389927 2023-12-31 2 fsa:SubsidiaryMember 42389927 2023-01-01 2023-12-31 42389927 2023-01-01 2023-12-31 1 42389927 2023-01-01 2023-12-31 memberOfBoardIdentifier_executive_board_1 42389927 2023-01-01 2023-12-31 memberOfBoardIdentifier_board_of_director_1 42389927 2023-01-01 2023-12-31 memberOfBoardIdentifier_board_of_director_2 42389927 2023-01-01 2023-12-31 memberOfBoardIdentifier_board_of_director_3 42389927 2023-01-01 2023-12-31 memberOfBoardIdentifier_board_of_director_4 42389927 2023-01-01 2023-12-31 memberOfBoardIdentifier_board_of_director_5 42389927 2022-01-01 2022-12-31 42389927 2023-01-01 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 42389927 2022-01-01 2022-12-31 fsa:ProposedDividendRecognisedInEquityMember 42389927 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 42389927 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 42389927 2023-01-01 2023-12-31 fsa:ContributedCapitalMember 42389927 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 42389927 2023-01-01 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 42389927 2023-01-01 2023-12-31 fsa:InvestmentsInGroupEnterprisesMember 42389927 2022-01-01 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember 42389927 2023-01-01 2023-12-31 1 fsa:SubsidiaryMember 42389927 2023-01-01 2023-12-31 2 fsa:SubsidiaryMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2023-01-01 2022-01-01 2023-12-31 2022-12-31 42389927 Mawi ApS Østerlundvej 2 8700 Horsens PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Herredsvej 32 7100 Vejle Denmark 79 21 27 00 Underskriv. revisors e-mail anvendes 2024-04-23 Theo August Düppre Regnskabsklasse B Revisionspåtegning The Executive Board and Board of Directors have today considered and adopted the Annual Report of Mawi ApS for the financial year 1 January - 31 December 2023. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion the Financial Statements give a true and fair view of the financial position at 31 December 2023 of the Company and of the results of the Company operations for 2023. In our opinion, Management's Review includes a true and fair account of the matters addressed in the Review. We recommend that the Annual Report be adopted at the Annual General Meeting. 2024-04-23 Horsens Lars Kramer Antitsch Manager Theo August Düppre Chairman Per Bødtkjer Lars Kramer Antitsch Dina Jensen Werner Schmitz To the shareholder of Mawi ApS Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2023 and of the results of the Company´s operations for the financial year 1 January - 31 December 2023 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Mawi ApS for the financial year 1 January - 31 December 2023, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”). Basis for Opinion 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’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the Financial Statements, Management is responsible for assessing the 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. 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. Management 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, in our view, 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 in Management’s Review. Trekantområdet 2024-04-23 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Jan Bunk Harbo Larsen State Authorised Public Accountant mne30224 Key activities The company's purpose is to own shares and other securities. Development in the year The income statement of the Company for 2023 shows a profit of DKK 7,618,006, and at 31 December 2023 the balance sheet of the Company shows a positive equity of DKK 49,332,569. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. -24645 -39302 435850 48194 -460495 -87496 5266783 3274928 4059078 2377702 584214 4649451 8281152 915683 663146 -519034 7618006 1434717 1000000 0 6618006 1434717 26139265 21058141 26139265 21058141 26139265 21058141 19993805 11375529 272875 0 0 532730 20266680 11908259 1157055 8294827 3530508 1658975 24954243 21862061 51093508 42920202 40000 40000 48292569 41860222 1000000 0 49332569 41900222 0 356161 661270 0 1099669 663819 1760939 1019980 1760939 1019980 51093508 42920202 40000 41860222 0 0 -185659 0 0 6618006 1000000 40000 48292569 1000000 435850 48194 435850 48194 1 0 The company's only employee is the director, who received a bonus in the financial year. He is employed by the subsidiary Multicheck A/S. 1006072 273894 3053006 2103808 4059078 2377702 0 284 584214 4649167 OtherFinanceExpenses 584214 4649451 34601239 34601239 34601239 34601239 -13543098 -9342112 -185659 -475914 5266783 3274928 0 7000000 -8461974 -13543098 26139265 21058141 Multicheck A/S Horsens 100 Multicheck Ejendomme ApS Horsens 100 Positive differences arising on initial measurement of subsidiaries at net asset value 2237034 2237034 Investments in subsidiaries are specified as follows: Listed shares -59562 1157055 Guarantee obligations The Company has guaranteed Multicheck Ejendomme ApS' bank guarantee 15803397 0 Other contingent liabilities The group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable is disclosed in the Annual Report of Macchiato ApS, which is the management company of the joint taxation purposes. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company's liability. The Annual Report of Mawi ApS for 2023 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B as well as selected rules applying to reporting class C. The accounting policies applied remain unchanged from last year. The Financial Statements for 2023 are presented in DKK. With reference to section 110 of the Danish Financial Statements Act, no consolidated financial statements are prepared. 1 Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset 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 out of the Company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Other external expenses comprise expenses for premises, sales as well as office expenses, etc. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss comprises of other external expenses. 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. The item “Income from investments in subsidiaries” in the income statement includes the proportionate share of the profit for the year. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Tax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity. The Company is jointly taxed with other group entities. The tax effect of the joint taxation is allocated to Danish enterprises in proportion to their taxable incomes. Investments in subsidiaries are recognised and measured under the equity method. The item “Investments in subsidiaries” in the balance sheet include the proportionate ownership share of the net asset value of the enterprises calculated on the basis of the fair values of identifiable net assets at the time of acquisition with deduction or addition of unrealised intercompany profits or losses. The total net revaluation of investments in subsidiaries is transferred upon distribution of profit to “Reserve for net revaluation under the equity method“ under equity. The reserve is reduced by dividend distributed to the Parent Company and adjusted for other equity movements in the subsidiaries. Subsidiaries with a negative net asset value are recognised at DKK 0. Any legal or constructive obligation of the Parent Company to cover the negative balance of the enterprise is recognised in provisions. Receivables are recognised in the balance sheet at amortised cost, which substantially corresponds to nominal value. Provisions for estimated bad debts are made. Current Asset Investments, which consist of listed bonds and shares, are measured at their fair values at the balance sheet date. Fair value is determined on the basis of the latest quoted market price. Dividend distribution proposed by Management for the year is disclosed as a separate Dividend item. Deferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of the asset and settlement of the liability, respectively. Deferred tax assets are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities within the same legal tax entity. Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity. Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxation scheme are recognised in the income statement in financial income and expenses. Debts are measured at amortised cost, substantially corresponding to nominal value.