33749996 2025-01-01 2025-12-31 33749996 2025-01-01 2025-12-31 0 33749996 2025-01-01 2025-12-31 1 33749996 2025-01-01 2025-12-31 2 33749996 2025-01-01 2025-12-31 3 33749996 2025-01-01 2025-12-31 0 33749996 2025-01-01 2025-12-31 1 33749996 2025-01-01 2025-12-31 0 33749996 2025-01-01 2025-12-31 1 33749996 2025-01-01 2025-12-31 0 33749996 2025-01-01 2025-12-31 5 33749996 2025-01-01 2025-12-31 10 33749996 2024-01-01 2024-12-31 33749996 2024-01-01 2024-12-31 1 33749996 2024-01-01 2024-12-31 6 33749996 2023-01-01 2023-12-31 33749996 2023-01-01 2023-12-31 2 33749996 2023-01-01 2023-12-31 7 33749996 2023-01-01 2023-12-31 12 33749996 2023-01-01 2023-12-31 17 33749996 2022-01-01 2022-12-31 33749996 2022-01-01 2022-12-31 3 33749996 2022-01-01 2022-12-31 8 33749996 2022-01-01 2022-12-31 13 33749996 2021-01-01 2021-12-31 33749996 2021-01-01 2021-12-31 4 33749996 2021-01-01 2021-12-31 9 33749996 2021-01-01 2021-12-31 14 33749996 2024-01-01 2024-12-31 11 33749996 2021-01-01 2021-12-31 19 33749996 2022-01-01 2022-12-31 18 33749996 2024-01-01 2024-12-31 16 33749996 2025-01-01 2025-12-31 15 33749996 2021-01-01 2021-12-31 24 33749996 2022-01-01 2022-12-31 23 33749996 2023-01-01 2023-12-31 22 33749996 2024-01-01 2024-12-31 21 33749996 2025-01-01 2025-12-31 20 33749996 2025-12-31 33749996 2024-12-31 33749996 2023-12-31 33749996 2022-12-31 33749996 2021-12-31 33749996 2024-01-01 2024-12-31 1 33749996 2025-01-01 2025-12-31 0 33749996 2025-01-01 2025-12-31 2 33749996 2024-01-01 2024-12-31 3 33749996 2024-01-01 2024-12-31 5 33749996 2025-01-01 2025-12-31 4 33749996 2024-01-01 2024-12-31 1 33749996 2025-01-01 2025-12-31 0 33749996 2024-12-31 33749996 2023-12-31 iso4217:EUR xbrli:pure Regnskabsklasse C, mellemstor virksomhed 2026-06-03 Annual report 33749996 Clearhaus A/S P.O.Pedersens Vej 14 8200 Aarhus N xWizard version 1.1.1531.0, by EasyX Aps. www.easyx.eu 2024-01-01 2024-12-31 Independent Auditor’s Report Basis for Opinion Opinion 2025-01-01 2025-12-31 Francois Vachon 33749996 Clearhaus A/S P.O. Pedersens Vej 2 8200 Aarhus N 33749996 2011-05-27 Aarhus Jacob Hamann Georg Graf von Ingelheim Kati Meister Dr. Max Steiger Robert Bueninck Francois Vachon Pascal Beij BDO Statsautoriseret Revisionspartnerselskab Thors Bakke 4, 2, 8900 Randers C Statement by the Management   Today the Board of Directors and Executive Board have discussed and approved the Annual Report of Clearhaus A/S for the   financial year 1 January - 31 December 2025.   The Annual Report is presented in accordance with the Danish Financial Statements Act.   In our opinion the Financial Statements give a true and fair view of the Company's assets, liabilities and financial position on 31   December 2025 and of the results of the Company's operations and cash flows for the financial year 1 January - 31 December   2025.   The Management Commentary includes in our opinion a fair presentation of the matters dealt with in the Commentary.   We recommend the Annual Report be approved at the Annual General Meeting.   Aarhus, Denmark   3 June 2026   Francois Vachon Pascal Beij Jacob Hamann Georg Graf von Ingelheim Dr. Max Steiger Kati Meister Robert Bueninck Independent Auditor’s Report To the Shareholder of Clearhaus A/S Opinion   We have audited the Financial Statements of Clearhaus A/S for the financial year 1 January - 31 December 2025, which comprise   Income Statement, Balance Sheet, Statement of Changes in Equity, Cash Flows Statements, Notes and a summary of significant   accounting policies. The Financial Statements are 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 of the Company at 31 December 2025   and of the results of the Company's operations and Cash Flows for the financial year 1 January - 31 December 2025 in accordance   with the Danish Financial Statements Act.   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 (including   International Independence Standards) (IESBA Code), together with the ethical requirements that are relevant to our audit of the   financial statements 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's Responsibilities for the Financial Statements  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.   Auditor’s Responsibilities for the Audit of the Financial Statements  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 judgment and maintain professional scepticism throughout the audit.   We also:   • Idenꢀfy 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 detecꢀng a material misstatement resulꢀng from fraud is higher than for   one resulꢀng from error as fraud may involve collusion, forgery, intenꢀonal omissions, misrepresentaꢀons, 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 effecꢀveness of the Company's internal   control.   • Evaluate the appropriateness of accounꢀng policies used and the reasonableness of accounꢀng esꢀmates and related   disclosures made by Management.   • Conclude on the appropriateness of Management’s use of the going concern basis of accounꢀng in preparing the Financial   Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or   condiꢀons that may cast significant doubt on the Company's ability to conꢀnue as a going concern.   If we conclude that a material uncertainty exists, we are required to draw aꢁenꢀon 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 condiꢀons may   cause the Company to cease to conꢀnue as a going concern.   • Evaluate the overall presentaꢀon, structure and contents of the Financial Statements, including the disclosures, and   whether the Financial Statements represent the underlying transacꢀons and events in a manner that gives a true and fair   view.   We communicate with those charged with governance regarding, among other maꢁers, the planned scope and ꢀming of the audit   and significant audit findings, including any significant deficiencies in internal control that we idenꢀfy during our audit.   Statement on Management Commentary  Management is responsible for Management Commentary.   Our opinion on the Financial Statements does not cover Management Commentary, 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 Commentary and, in doing so,   consider whether Management Commentary 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 Commentary provides the information required under the   Danish Financial Statements Act.   Based on the work we have performed, we conclude that Management Commentary is in accordance with the Financial   Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not   identify any material misstatement of Management Commentary.   Randers 2026-06-03 BDO Statsautoriseret Revisionspartnerselskab BDO Statsautoriseret Revisionspartnerselskab 45719375 45719375 Søren Busch Christian Fjordvald Mikkelsen State Authorised Public Accountant mne47884 State Authorised Public Accountant mne46256 Management Review Main activities   Clearhaus A/S’ principal activity is the provision of payment services in its capacity as an acquiring institution. The Company is  regulated by the Danish Financial Supervisory Authority (FSA) and holds a Payment Institution licence. Furthermore, Clearhaus   A/S is a principal member of the card schemes Visa and Mastercard.   Development in activities and economic conditions   In 2025, Clearhaus A/S reported a profit for the year of EUR 250k. While below expectations between EUR 2-4 million set out in   the 2024 annual report, management considers the result satisfactory. Total transaction volume increased by 13% and revenue   grew by 12%, driven primarily by strong performance in the DACH region, where volume expanded by 22% year-on-year,   compared to 10% growth in the Nordic markets. The company’s cash position went down by 27 million from 125 million to 98  million primarily driven by timing of operational balances of settlement assets and liabilities as part of the company’s business  model.   The continued expansion in the DACH region is supported by the Unzer Group, which is experiencing significant growth and   increasingly utilises Clearhaus as its main acquiring partner in its core German market.   In addition to ongoing technology-driven investments aimed at enhancing product capabilities, the Company has undertaken   substantial investments in 2025 to meet evolving regulatory requirements and ensure continued compliance.   Expected development   Despite a more uncertain economic environment, Clearhaus A/S expects to achieve double-digit growth in both transaction   volume and revenue in 2026, supported by further expansion in the DACH region. The Company anticipates EBITDA for the year   in the range of EUR 3–5 million.  Significant investments are planned to further develop the Company’s product offering, including the launch of a new point-of-  sale (POS) solution and a Payment Facilitator (PayFac) solution. The POS solution is designed for small and medium-sized retailers   in Denmark, enabling them to manage both in-store and online sales through a single, integrated platform, thereby facilitating a   seamless omnichannel experience.   The Payment Facilitator model will allow licensed entities, such as technology platforms and marketplaces, to onboard and   manage merchants directly within their own ecosystems, while Clearhaus provides the underlying secure payment infrastructure.   The Company expects to continue generating positive liquidity in 2026. As in previous years, key uncertainties relate primarily to   developments in the capital markets, particularly interest rates in Europe, and, to a lesser extent, fluctuations in foreign exchange   markets.   Knowledge Resources   The Company’s continued development is highly dependent on its knowledge resources, particularly within IT and software   development. Clearhaus A/S relies significantly on the expertise and competencies of its employees and is committed to   continuously strengthening these through targeted training, upskilling initiatives, and knowledge sharing. In addition, external   specialists are engaged for larger and more complex development projects to supplement internal capabilities.   The Company works extensively with tailored IT solutions, enabling a high degree of flexibility and innovation. This forms a key   competitive advantage by supporting an efficient development process and delivering a user experience that meets the evolving   needs of customers in a dynamic market.   Significant Events following the financial year-end   No events have occurred after the end of the financial year of material importance for the Company's financial position.   Accounꢀng Policies   The Annual Report of Clearhaus A/S for 2025 has been presented in accordance with the provisions of the Danish medium-size   Financial Statements Act for enterprises in reporting class C.   The Annual Report is prepared consistently with the accounting principles applied last year.   Income Statement   Net Revenue   The sale of services is generally recognized based on a measurable degree of completion, using straight-line recognition of services   delivered over time in a consistent pattern. Where the degree of completion is not measurable, or the sales value or total costs   of completion are uncertain, revenue is recognized at the amount the enterprise reasonably believes it has the right to claim and   expects to receive for services delivered as of the balance sheet date.   Net revenue is recognized exclusive of VAT and less duties and discounts related to the sale.   Cost of Sales   Cost of sales comprise costs incurred to achieve the net revenue for the year, including direct and indirect costs of raw materials   and consumables.   Other External Expenses   Other external expenses include other production, sales, delivery, and administrative costs, including costs of energy, marketing,   premises, loss on bad debts, lease expenses, etc.   Staff Costs   Staff costs comprise wages and salaries, including holiday pay and pensions, and other costs of social security etc., for the   Company's employees.   Other Operaꢀng Expenses   Other operating expenses include items of a secondary nature in relation to the Group’s and the Company’s activities. Losses from  sale of intangible and tangible fixed assets are also included.   Depreciaꢀon, Amorꢀzaꢀon & Impairment Losses   Depreciation, amortization, and impairment losses include this year’s depreciations and write-downs, as well as the profit or loss  from the sale of intangible and tangible fixed assets.   Income From Other Securiꢀes   Income from other securities include interest income, realized and unrealized exchange gains and losses.   Financial Income and Expenses   Financial income and expenses include interest income and expenses, financial expenses from finance leases, realized and   unrealized gains and losses arising from securities, debt, and transactions in foreign currencies, as well as charges and allowances   under the tax-on-account scheme, etc. Financial income and expenses are recognized to the extent that they relate to the financial   year. Interest income and expenses are calculated based on amortized cost.   Tax   The tax for the year, which consists of the current tax for the year and changes in deferred tax, is recognized in the Income   Statement by the share that may be attributed to the profit for the year and is recognized directly in equity by the share that may   be attributed to entries directly to equity.   Balance Intangible fixed assets   Development Projects, Patents, and Licenses   Patents and licenses are measured at the lower of cost less accumulated amorꢀzaꢀon and the recoverable amount. Patents are   amorꢀzed over the remaining patent period, and licenses are amorꢀzed over the agreement period, but not more than 5 years.   Development projects comprise costs—including wages, salaries, and amorꢀzaꢀon—that can be directly or indirectly aꢁributed to   the Company’s development acꢀviꢀes and that fulfil the criteria for recogniꢀon in the balance sheet. This item is measured at the   lower of capitalized costs less accumulated amorꢀzaꢀon and the recoverable amount.   As of the date of compleꢀon, capitalized development costs are amorꢀzed on a straight-line basis over the esꢀmated useful life   aſter compleꢀon of the development work. The amorꢀzaꢀon period is normally 5–10 years.   Intangible fixed assets are wriꢁen down to the recoverable amount if this is lower than the carrying amount.   Profit or loss from the sale of intangible fixed assets is calculated as the difference between the sales price and the carrying amount   at the ꢀme of sale. Profit or loss is recognized in the income statement under other operaꢀng income or other operaꢀng expenses.   Tangible fixed assets   Other plant, fixtures and equipment are measured at cost less accumulated depreciation and impairment losses. The depreciation   base is cost less estimated residual value after end of useful life.   The cost includes the acquisition price and costs incurred directly in connection with the acquisition until the time when the asset   is ready to be used.   Straight-line depreciation is provided on the basis of an assessment of the expected useful lives of the assets and their residual   value.   Useful Life   Residual Value   Other plants, fixtures, leasehold improvements and equipment   3-5 Years   0%   Profit or loss on the sale of tangible fixed assets is calculated as the difference between the sales price, less selling costs, and the   carrying amount at the date of sale. Profit or loss is recognized in the income statement as other operating income or other   operating expenses.   Impairment of Fixed Assets   The carrying amounts of intangible and tangible fixed assets, as well as fixed asset investments that are not measured at fair value,   are assessed annually for indications of impairment beyond what is reflected by amortization and depreciation.   If there are indications of impairment, an impairment test is performed for each asset or group of assets. If the recoverable amount   is lower than the carrying amount, the asset is written down to the recoverable amount.   The recoverable amount is the higher of the capital value and the selling price less the expected costs of a sale. The capital value   is stated at the present value of the expected net cash flows from a continued use of the asset or group of assets and the expected   proceeds from sale of the asset or group of assets after the end of its useful life.   Financial Non-Current Assets   Deposits include rental deposits, which are recognized and measured at amortized cost. Deposits are not depreciated.   Other receivables are measured at amortized cost, which usually corresponds to the nominal amount. The amount is written down   to account for expected losses.   Fixed asset investments also include publicly quoted shares that are not expected to be disposed of. These shares are measured   at market value (quoted price) on the balance sheet date.   Receivables   Receivables are measured at amortized cost which usually corresponds to nominal value. The value is reduced by impairment   losses to meet expected losses.   Cash and Cash Equivalents   Cash and cash equivalents consist of money deposited in financial institutions and in cash holdings.   Accruals Assets   Accruals recognized as assets include costs incurred relating to the subsequent financial year.   Cash And Cash Equivalents   Cash include cash in hand.   Provisions For Losses on Chargebacks   Provision for losses on charge backs comprise anticipated loss on chargebacks related to merchants where chargeback claims are   not expected to be recoverable.   A provision has been made for losses on known and potential losses based on an assessment of the known facts of the individual   cases.   Tax Payable and Deferred Tax   Current tax liabilities and receivable current tax are recognized in the balance sheet as the calculated tax on taxable income for   the year, adjusted for tax on taxable income from previous years and taxes paid on account.   The Company is subject to joint taxation with Danish group companies. The current corporation tax is allocated among the jointly   taxable companies in proportion to their taxable income, with full allocation and refund related to tax losses. The jointly taxable   companies are included in the tax-on-account scheme. Joint taxation contributions receivable and payable are recognized in the   balance sheet under current assets and liabilities, respectively.   Deferred tax is measured on the temporary differences between the carrying amount and the tax value of assets and liabilities.   Deferred tax assets, including the tax value of tax loss carryforwards, are measured at the amount at which the asset is expected   to be utilized within a reasonable number of years, either by offset against tax on future earnings or by offset 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, under the legislation in force on the balance sheet date,   will be applicable when the deferred tax is expected to crystallize as current tax. Any changes in deferred tax resulting from   changes in tax rates are recognized in the income statement, except for items recognized directly in equity.   Liabiliꢀes   Financial liabilities are recognized at the time of borrowing at the amount of proceeds received, less transaction costs. In   subsequent periods, financial liabilities are measured at amortized cost, which corresponds to the capitalized value when applying   the effective interest method. The difference between the proceeds and the nominal value is recognized in the Income Statement   over the loan period.   The amortized cost of current liabilities usually corresponds to the nominal value.   Foreign Currency Translaꢀon   Transactions in foreign currencies are translated at the exchange rate on the transaction date. Exchange differences arising   between the rate on the transaction date and the rate on the payment date are recognized in the income statement as financial   income or expense.   If the foreign exchange position is considered to hedge future cash flows, the unrealized exchange adjustments are recognized   directly in equity.   Receivables, payables, and other monetary items in foreign currencies that are not settled on the balance sheet date are translated   at the exchange rate on the balance sheet date. The difference between the exchange rate on the balance sheet date and the   exchange rate at the time the receivables or payables arose is recognized in the income statement as financial income or expenses.   Fixed assets acquired in foreign currencies are translated at the exchange rate on the transaction date.   Cash flow statement   The cash flow statement shows the Company’s cash flows for the year for operating activities, investing activities and financing  activities in the year, the change in cash of the year at beginning and end of the year.   Cash Flows from Operaꢀng Acꢀviꢀes   Cash flows from operating activities are computed as the results for the year adjusted for non-cash operating items, changes in   net working capital and corporation tax paid.   Cash Flows from Invesꢀng Acꢀviꢀes   Cash flows from investing activities include payments in connection with purchase and sale of intangible and tangible fixed asset   and fixed asset investments.   Cash Flows from Financing Acꢀviꢀes   Cash flows from financing activities include changes in the size or composition of share capital and related costs, and borrowings   and repayment of interest-bearing debt and payment of dividend to shareholders.   Financial Highlights   2025   2024   2023   2022   2021   EUR   EUR   EUR   EUR   57686460 4824622 1115620 -101765 598689 51044672 5207641 1586778 381587 47470754 7951337 4651252 3544976 1422628 4967604 3627603 52626308 11203179 5358286 4437330 242997 100878889 20441117 14274223 13441403 642830 Operating profit/loss before depreciation and Amortization Operating profit/loss before depreciation and Amortization Operating profit/loss before depreciation and Amortization Operating profit/loss before depreciation and Amortization Operating profit/loss before depreciation and Amortization Operating profit/loss of main activities Operating profit/loss of main activities Operating profit/loss of main activities Operating profit/loss of main activities Operating profit/loss of main activities Financial income and expenses, net Financial income and expenses, net Financial income and expenses, net Financial income and expenses, net Financial income and expenses, net Profit/loss for the year before tax Profit/loss for the year before tax Profit/loss for the year before tax Profit/loss for the year before tax Profit/loss for the year before tax 2544720 2926307 2322704 496924 -4233927 -3295190 14084233 10996688 250114 Total assets Total assets Total assets Total assets Total assets 131914580 10595239 157576434 11745125 115983385 13050024 76448364 9422421 114579460 12717612 0 0 0 426636 48530 -4.8 8 2.2 24.7 7.5 301.5 11.3 32.3 49.1 12.3 279.7 11.1 18.7 -29.8 106.2 The ratios stated in the list of key figures and ratios have been calculated as follows: 57686460 70398 51044672 0 46326288 6605948 4824622 3709002 1217385 0 37386479 8450552 5207641 3595580 1205191 25283 -101765 715558 381587 2706139 161419 2926307 603603 2322704 116869 496924 246810 250114 3058149 792540 3365901 316308 3850689 3682209 0 0 0 26492 46230 72722 884558 3311820 4196378 8047067 901546 3344741 4246287 8001218 3588266 21282601 298865 3633701 19548639 0 595200 944224 428934 24555498 371026 26135958 97748333 123884291 131931358 124919718 149475216 157476434 440000 3003538 7151701 0 440000 2872123 7033002 1400000 11745125 10595239 1076418 210990 846772 265722 1287408 1112494 50677 51731 50677 51731 2347943 618545 2313132 4686970 754621 0 116911546 120000 136652361 160000 119998034 144567084 120048711 131931358 144618815 157476434 Statement of Changes in Equity   Reserve for   Share capital   Retained profit   Proposed Dividend   Total   Development costs   Equity on 1 January 2025   440,000   2,872,123   7,033,002   1,400,000   11,745,125   Proposed profit allocation (note 6)   (774,138)   -774,138   Transactions with owners   Dividend paid   (1,400,000)   (1,400,000)   Other legal bindings   Capitalized Development Costs   1,024,252   1,024,252   Depreciations   (892,837)   892,837   0 Equity on 31 December 2025   440,000   3,003,538   7,151,701   0 10,595,239   2025 2024 250114 2322704 1205191 -123344 603603 Unrealized exchange gains, reversed Unrealized exchange gains, reversed 1217385 16988 246810 -1600010 -686535 -54732 -1851761 7684289 55040 Change in other provisions Change in other provisions Change in current liabilities (ex-bank, tax, instalments payable and overdraft facility) Change in current liabilities (ex-bank, tax, instalments payable and overdraft facility) -23814023 -24424003 44010469 53906191 -1313143 -32920 -1227732 0 -1346063 -1227732 Instalments on loans Instalments on loans -1319 -1400000 -1401319 -27171385 -7167 -3627603 -3634770 49043689 124919718 75876029 97748333 124919718 97748333 124919718 97748333 124919718 Notes   1. Net Revenue   Segment details (acꢀviꢀes)   2025   2024   EUR   EUR   Transaction Services   56,163,460   50,319,315   Non-transaction Services   1,523,000   725,357   57,686,460   51,044,672   2. Staff Costs  2025   2024   EUR   EUR   Average number of full-time employees   58 49 Wages and salaries   3,409,604   2,809,773   Pensions   210,743   180,629   Social security costs   88,655   68,334   Capitalized development costs   3,709,002   3,058,736   Remuneration of Management   315,983   246,364   Remuneration of Board of Directors   16,973   332,955   246,364   58 49 3. Other Financial Income  2025   2024   EUR   EUR   Group Enterprises   35,205   5,076   Other Interest Income   680,353   2,701,063   715,558   2,706,139   4. Other Financial Expenses   2025   2024   EUR   EUR   Associated Enterprises   3,454   16,161   Other Interest Expenses   113,415   145,258   116,689   161,419   5. Tax on Profit/Loss for the Year   2025   2024   EUR   EUR   Calculated tax on taxable income of the year   (16,772)   666,002   Adjustment of tax for previous years   33,936   (9,821)   Adjustment of deferred tax   229,646   (52,578)   246,810   603,603   6. Proposed Distribuꢀon of the Profit   2025   2024   EUR   EUR   0 1400000 956436 -33732 1024252 -774138 7. Intangible Assets   Development projects   Development projects in   completed progress and prepayments   Cost on 1 January 2025   8,078,422   316,308   Transfer   836,911   (836,911)   Additions   0 1,313,143   Cost on 31 December 2025   8,915,333   792,540   Amortization on 1 January 2025   4,712,521   0 Amortization for the year   1,144,663   0 Amortization on 31 December 2025   5,857,184   0 Carrying amount on 31 December 2025   3,058,149   792,540   Development costs are expenses attributed to the ongoing improvement of existing systems, as well as the development of new   ones.   These development costs are capitalized based on the expectation that the developed systems will contribute to the continued   growth of the company.   The systems will provide merchants with a higher level of service and further streamline the company's work processes.   8. Property, Plant and Equipment   Other plants, machinery,   Leasehold improvements   tools and equipment   Cost on 1 January 2025   161,269   357,460   Cost on 31 December 2025   161,269   357,460   Depreciation and impairment losses on 1 January 2025   134,778   311,230   Depreciation for the year   26,491   46,230   Depreciation and impairment losses on 31 December 2025   161,269   357,460   Carrying amount on 31 December 2025   0 0 9. Financial Non-current Assets   Rent deposit and other   Other Securities   receivables   Cost on 1 January 2025   186,102   3,344,741   Exchange adjustment at closing rate   0 -32,921   Additions   0 0 Disposals   0 0 Cost on 31 December 2025   186,102   3,311,820   Revaluation on 1 January 2025   715,444   0 Revaluation and impairment losses for the year   -16,988   0 Revaluation on 31 December 2025   698,456   0 Carrying amount on 31 December 2025   884,558   3,311,820   The carrying amount of financial non-current assets includes securities measured at fair value by the following amounts:   Fair value of listed shares on 31 December 2025   884,558   Value adjustment in the year recognized in the Income Statement   -16,988   10. Prepayments and Accrued Income   2025   2024   EUR   EUR   Prepaid cost regarding the following year   371,026   428,934   371,026   428,934   11. Share Capital   Allocaꢀon of Share Capital:   2025   2024   EUR   EUR   A-shares, 440,000 units in the denomination of 1 EUR   440,000   440,000   440,000   440,000   12. Provisions for Deferred Tax   The provision for deferred tax is related to differences between the carrying amount and the tax value of securities, receivables,   intangible and tangible fixed assets, including recognized finance lease contracts.   2025   2024   EUR   EUR   Deferred tax is related to:   Leasehold improvements   (5,275)   (14,161)   Other plants, machinery, tools and equipment   (13,970)   (14,201)   Development projects   1,001,179   875,134   Prepayments   94,484   0 1076,418   846,772   Deferred tax, beginning of year   846,772   899,350   Deferred tax of the year, income statement   229,646   (52,578)   Provision for deferred tax 31 December 2025   1,076,418   846,772   13. Other Provisions for Liabiliꢀes   2025   2024   EUR   EUR   0-1 year   210,990   265,722   Expected maturities for provisions is 0-1 year   Provision for losses on chargebacks comprise anticipated loss on chargebacks related to merchants where chargebacks claims are   not expected to be recoverable.   A provision has been made for losses on known and potential losses based on an assessment of the known facts of the individual   cases.   14. Long-term Liabiliꢀes   Debt outstanding after 5   31.12.2025 Total Liabilities   Repayment next year   31.12.2024 Total Liabilities   years   Other Liabilities   57,642   6,965   15,400   58,961   57,642   6,965   15,400   58,961   15. Accruals and Deferred Income   Includes delivered services which are to be invoiced in the coming year.   16. Conꢀngencies, etc.   Rental obligaꢀons:   The Company has entered into rental agreements for its premises with a 12 months’ terminaꢀon noꢀce. The total remaining lease   commitment amounts to EUR 376 thousand at the balance sheet date. The lease commitments relate to operaꢀng leases and are   not recognised in the balance sheet.   Conꢀngent Liabiliꢀes   From ꢀme to ꢀme, the Group is party to legal disputes. In respect of pending disputes, it is Management's opinion that the outcome   of these disputes will not affect the Group's financial posiꢀon, apart from the receivables and liabiliꢀes recognized in the statement   of financial posiꢀon as of 31 December 2025.   Joint Liability   The Danish companies of the Group are jointly and severally liable for tax on the Group’s jointly taxed income, as well as for certain   possible withholding taxes such as dividend tax and royalty tax, and for the joint registraꢀon of VAT.   The tax payable on the Group’s jointly taxed income amounts to EUR ('000) 0 as of the balance sheet date.   17. Disclosure of mortgages and collaterals   Clearhaus has deposited EUR ('000) 3,211 in dedicated accounts at VISA and Mastercard as collateral for any risk that VISA and   Mastercard may have.   Despite the above, the company does not have any other pledges or guarantees beyond those already recognized in the financial   statements.   18. Related Parꢀes   The company’s related parꢀes include:   Controlling Interest   Unzer Group GmbH, Schöneberger Str. 21a, 10963 Berlin, Germany, is the main shareholder.  Unite Holdings SCA, 5 Avenue Diderich, 1420 Luxembourg, is the ulꢀmate parent company.   The company is included in the consolidated financial statements of the ulꢀmate parent, Unite Holdings SCA, Luxembourg. These   represent the largest consolidated group and are published in the Luxembourg Trade and Companies Register (Registre de   Commerce et des Sociétés (RCS)). The company is also included in the consolidated financial statements of Unite TopCo GmbH,   Germany.   Transacꢀons With Related Parꢀes   The company did not carry out any material transacꢀons that were not concluded on market condiꢀons.   According to secꢀon 98c, subsecꢀon 7 of the Danish Financial Statements Act, informaꢀon is provided only on transacꢀons that   were not performed on common market condiꢀons.