33075731 2024-01-01 2024-12-31 33075731 2024-12-31 33075731 2023-01-01 2023-12-31 33075731 2023-12-31 33075731 2024-01-01 2024-12-31 1 33075731 2024-01-01 2024-12-31 2 33075731 2024-01-01 2024-12-31 3 33075731 2024-01-01 2024-12-31 4 33075731 2024-01-01 2024-12-31 33075731 2024-01-01 2024-12-31 1 iso4217:DKK xbrli:pure 2024-01-01 2024-12-31 2025-06-10 2025-06-06 2025-06-06 København K inforevision statsautoriseret revisionsaktieselskab 2860 Søborg Clicklearn ApS Buddingevej 312 Sjæleboderne 2, 1.th. 1122 Søborg 33075731 2023-01-01 2023-12-31 The company's primary activities consists in developing and selling software as well as what is naturally related to it. The results of the company's activities in the financial year amounted to a profit/loss of DKK 4.204.517 against DKK 2.231.153 in last financial year. The equity at the balance sheet date amounted to DKK 5.321.582. Management consider the results as satisfactory. The Executive Board have today considered and adopted the annual report for 1 January 2024 - 31 December 2024 for Clicklearn ApS. 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 the company's financial position at 31 December 2024 and of the results of its operations for the financial year 1 January 2024 - 31 December 2024. We believe that the Management's review contains a fair review of the affairs and conditions referred to therein. We recommend that the annual report be adopted at the Annual General Meeting. To the shareholder's in Clicklearn ApS We have audited the financial statements of Clicklearn ApS for the financial year 1 January 2024 - 31 December 2024, which comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity and notes. The financial statements are prepared under the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the company's financial position as at 31 December 2024 and of the results of the company's operations for the financial year 1 January 2024 - 31 December 2024 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and 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 this auditor’s report. We are independent of the company in accordance with the International Ethics Standards Board of Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and 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, for disclosing, as applicable, matters related to going concern, and for 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 content of the financial statements, including the disclosures in the notes, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.Plan and perform the audit of the financial statements to obtain sufficient appropriate audit evidence regarding the consolidated financial information of the entities or business units as a basis for forming an opinion on the financial statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the audit. We remain solely responsible for our audit opinion. 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 Financials 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. The annual report has been prepared in accordance with Danish financial statement legislation as well as generally accepted accounting principles. The annual report has been prepared in accordance with the provisions of the Danish Financial Statements Act governing Reporting class B.Some provisions from reporting class C has been adopted.The accounting policies have not been changed from last year. Consolidated financial statements has not been prepared in accordance with the Danish Financial Statement Act section 110. The financial statements have been prepared based on historical cost.The income is 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.Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the maturity period. Amortised cost is calculated as original cost less any repayments and with addition/deduction of the cumulative amortisation of any difference between cost and the nominal amount. In this way, capital losses and gains are allocated over the maturity period.Recognition and measurement take into account predictable losses and risks occurring before the presentation of the annual report which confirm or invalidate affairs and conditions existing at the balance sheet date.The functional currency is Danish Kroner. All other currencies are considered foreign currencies. During the year, transactions in foreign currencies have been translated applying the exchange rate at the transaction date. If currency positions are considered hedge of future cash flows, the value adjustments are recognised directly in equity.Receivables and debt denominated in foreign currencies have been recognised at the exchange rate of the balance sheet date.Realised and unrealised exchange gains and losses have been recognised in the income statement under other financial income and expenses. Gross profit/loss includes "Revenue""Cost of sales""Other operating income""External expenses". As income recognition criterion, the production criterion is applied so that revenue comprises the invoiced revenue for the year reduced by prepayments and with addition for work in progress measured at market value. Revenue is measured at fair value excl. VAT and less granted discounts. Cost of sales comprise expenses incurred to earn revenue for the year including provision in the year. Other operating income comprises income of a secondary nature as viewed in relation to the company's primary activities, including payments received from public authorities as well as profit on sale of fixed assets. External expenses comprises Selling costsCost of premisesAdministrative expenses. Staff costs include wages and salaries including holiday pay and pensions and other social security costs etc. to the company's employees. Income from investments in group enterprises comprises the pro rata share of the group enterprises’ profit/loss adjusted for internal profits and losses less amortisation of goodwill on consolidation for the year. Financial income is recognised with amounts concerning the financial year. Financial income comprise interest, realised and unrealised exchange gains, realised and unrealised gains on sale of other securities and investments as well as interest reimbursements under the Danish Tax Prepayment Scheme. Financial expenses is recognised with amounts concerning the the financial year. Financial expenses comprise interest, realised and unrealised exchange losses, realised and unrealised losses on sale of other securities and investments as well as interest surcharge under the Danish Tax Prepayment Scheme. Tax on profit or loss for the year represents 22% of the book profit or loss adjusted for non-taxable and non-deductible items. Tax on profit or loss for the year consists of the anticipated tax portion of the taxable income for the year adjusted for the changes for the year in deferred tax. Changes in deferred taxes due to adjustments of tax rates is recognised in the income statement. Tax on profit or loss for the year is recognised in the income statement by the portion attributable to the profit or loss for the year and recognised directly in equity by the portion attributable to entries directly in equity. The company is subject to the Danish Tax Prepayment Scheme. Interest reimbursement and interest surcharge have been recognised in financial income and expenses. The balance sheet has been presented in account form. Intangible assets are measured at cost less accumulate amortisation. Cost comprises the acquisition price as well as costs directly related to the acquisition until the time when the asset is ready to be put into operation. Assets are amortised on a straight-line basis over their estimated useful lives:Category Period Acquired other similar rights 1 - 5 years As the intangible assets are not being traded in an active and effective market, no residual values after end of use are included when determining the amortisation period.Profit/loss on sale has been included in the income statement under gross profit or loss and other operating expenses.The carrying amounts of intangible assets are reviewed annually for indication of impairment for losses, apart from what is expressed by usual amortisation. If this applies, impairment for loss is made of each asset or group of assets, respectively, to lower recoverable amount. As recoverable amount, the higher of expected net selling price and net present value is applied. The net present value is calculated as the present value of the expected cash flows from the use of the asset or the group of assets.Impairment for loss for the year is recognised in the income statement as amortisation, depreciation and impairment for loss of property, plant and equipment and intangible assets. Property, plant and equipment are measured at cost less accumulate depreciation. The basis of depreciation is cost less estimated residual value after the end of useful life. Cost comprises the acquisition price as well as costs directly related to the acquisition until the time when the asset is ready to be put into operation. The cost price for an asset is divided into separate components, that are depreciated separately, if the useful life of the individual components is significantly different. Depreciation is initiated when the assets are ready to be taken into operation. Assets are depreciated on a straight-line basis over their estimated useful lives with following residual values:Category Period Residual value Leasehold improvements 5 years 0-10% Fixtures, fittings, tools and equipment 2 years 0-10% Minor purchases with useful lives below one year have been recognised as an expense in the income statement in external expenses.Profit/loss on sale or retirement has been included in the income statement under gross profit or loss and other operating expenses.The carrying amounts of property, plant and equipment are reviewed annually for indication of impairment for losses, apart from what is expressed by usual depreciation. If this applies, impairment for loss is made of each asset or group of assets, respectively, to lower recoverable amount. As recoverable amount, the higher of expected net selling price and net present value is applied. The net present value is calculated as the present value of the expected cash flows from the use of the asset or the group of assets.Impairment for loss for the year is recognised in the income statement as amortisation, depreciation and impairment for loss of property, plant and equipment and intangible assets. Investments in group enterprises have been recognised according to the equity method. This means that investments are measured at the pro rata share of the group enterprises' net asset value adjusted for internal dividends and profit or losses.Distributable reserves in group enterprises which are distributed as dividends to the parent at the balance sheet date are included in the value of investments.Group enterprises with negative net asset values are measured at zero, and any receivable from such enterprises is written down by the Parent's share of the negative net asset value to the extend deemed irrecoverable. If the negative net asset value exceeds the amount receivable, the remaining amount is recognised in provisions to the extent the Parent has a legal or constructive obligation to cover the relevant enterprise's liabilities.Acquisition of group enterprises are recognised at cost. The difference between the cost price and the net asset value of the acquired company, which appears at the time of establishing the consolidation, is as far as possible allocated to the assets and liabilities whose value is higher or lower than the carrying amount. A remaining positive difference is treated as goodwill and included in the value of investments.A negative difference, reflecting an expected cost or an unfavourable development, are recognised as income in the income statement in the year of acquisition.Goodwill is amortised in the income statement over 10 years. The amortisation period is based on an assessment of the market position, earnings profile, and expectations of customers loyality, which within reasonable limits is based on historical data/registrations. Amortisations are recognised in the income statement with other value adjustments in the item income from investments in group enterprises. The total net revaluation of investments in group enterprises is allocated through the profit or loss distribution to "Reserve for net revaluation according to the equity method" under equity. The reserve is reduced by dividend distributions to the Parent and is adjusted by changes in equity in the group enterprises. Deposits recognised as fixed assets are measured at amortised cost, which usually corresponds to nominal amount. Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Provisions for bad debts are determined on the basis of an individual assessment of each receivable. Prepayments comprise costs incurred relating to subsequent financial years. Reserve for current value adjustments of currency gains comprise accumulate exchange differences arising out of the translation of foreign entities financial statements from local currencies to DKK as well as translation of receivables, which is considered to be a part of the net investments in the foreign entities, from local currencies to DKK. At the point in time of disvestment of a foreign entity, the accumulate exchange differences recognised in the reserve are transferred to the income statement together with the profit or loss on the disvestment.Dividend distribution proposed by Management for the year is disclosed as a separate equity item. Deferred tax is measured using the balance sheet liability method. Provision has been made for deferred tax by 22% on all temporary differences between carrying amount and tax-based value of assets and liabilities. Deferred tax is also measures with respect of the planned use of the asset and the settlement of the liability. The tax value of the tax losses to be carried forward are included in the calculation of deferred taxes if it is probable that the losses can be used. Deferred tax assets are measured at net realisable value.The company is Management company in a joint taxation with other Danish group enterprises. The tax effect of the joint taxation is allocated among the group enterprises in ratio to their taxable income according to the rules on full allocation with a refund for tax losses of the Danish Corporation Tax Act. Corporation tax relating to the financial year which has not been settled at the balance sheet date is to be classified as corporation tax in receivables or liabilities other than provisions. Joint tax contributions between the jointly taxed companies which have not been settled at the balance sheet date are classified as joint tax contributions in receivables or liabilities other than provisions. Financial debts are recognised initially at the proceeds received net of transaction expenses incurred, which are directly related with the loan. In subsequent years, financial debts are measured at amortised cost equal to the capitalised value using the effective interest rate. The difference between the proceeds and the nominal value is recognised in the income statement over the loan period. Short-term debts are measured at amortised cost, substantially corresponding to nominal value. Deferred income comprise income received relating to subsequent financial years. 39354270 34589622 33047363 31252295 591788 286405 5715119 3050922 -497875 1343 355205 14244 36145 205041 5536304 2861468 1331787 630315 4204517 2231153 1204517 731153 549836 464546 549836 464546 0 0 0 0 0 0 4588306 4945403 333981 324342 4922287 5269745 5472123 5734291 12292093 10080639 199967 181091 309549 322253 0 9944 122622 812724 765291 1418699 13689522 12825350 19100265 21633861 32789787 34459211 38261910 40193502 60000 60000 174874 34096 2086708 882191 3000000 1500000 5321582 2476287 2202121 2165976 2202121 2165976 103384 242308 150209 100633 870770 823226 625229 0 16456 0 6209192 14281541 22762967 20103531 30738207 35551239 32940328 37717215 38261910 40193502 STATEMENT OF CHANGES IN EQUITY Contributed capital Reserve for current value adjustments of currency gains Retained earnings Proposed dividend recognised in equity Total DKK DKK DKK DKK DKK Equity at 1 January 2023 60.000 96.039 151.038 0 307.077 Exchange rate adjustments for the year  -61.943 0 -61.943 Distributed profit/loss for the year 731.153 1.500.000 2.231.153 Equity at 1 January 2024 60.000 34.096 882.191 1.500.000 2.476.287 Exchange rate adjustments for the year  140.778 0 140.778 Dividends paid 0 -1.500.000 -1.500.000 Distributed profit/loss for the year 1.204.517 3.000.000 4.204.517 Equity at 31 December 2024 60.000 174.874 2.086.708 3.000.000 5.321.582 16893038 16238383 539558 529603 197556 204247 15417211 14280062 24 22 STAFF COSTS 2024 2023 DKK DKK Wages and salaries 16.893.038 16.238.383 Pensions 539.558 529.603 Other social security costs 197.556 204.247 Other staff cost 15.417.211 14.280.062 Total 33.047.363 31.252.295 Average number of full-time employees 24 22 7626 6853 347579 7391 FINANCE INCOME 2024 2023 DKK DKK Financial income from group enterprises 7.626 6.853 Other financial income 347.579 7.391 Total 355.205 14.244 0 205041 FINANCE EXPENSES 2024 2023 DKK DKK Other financial expenses 0 205.041 Total 0 205.041 TAX EXPENSE Corporation tax Joint tax contribution Deferred tax Tax on profit/loss for the year 2023 DKK DKK DKK DKK DKK Payables at 1 January 2024 -22.237 0 -812.724 Paid in respect of previous years 9.944 0 Tax on profit/loss for the year 637.522 16.456 690.102 1.344.080 630.315 Payables at 31 December 2024 625.229 16.456 -122.622 Tax on profit/loss for the year recognised in the income statement 1.344.080 630.315 Recognition in balance sheet: Short-term receivables (current asset) 0 0 -122.622 Short-term payables 625.229 16.456 Total 625.229 16.456 -122.622 INTANGIBLE ASSETS Acquired other similar rights Total 2023 DKK DKK DKK Cost at 1 January 2024 1.355.624 1.355.624 1.247.572 Additions for the year 522.775 522.775 108.052 Disposals for the year -561.199 -561.199 0 Cost at 31 December 2024 1.317.200 1.317.200 1.355.624 Amortisation and impairment losses at 1 January 2024 -891.078 -891.078 -693.481 Adjustments beginning of the year 154.303 154.303 0 Amortisation for the year -591.788 -591.788 -197.597 Reversal regarding disposals for the year 561.199 561.199 0 Amortisation and impairment losses at 31 December 2024 -767.364 -767.364 -891.078 Carrying amount at 31 December 2024 549.836 549.836 464.546 PROPERTY, PLANT AND EQUIPMENT Leasehold improvements Fixtures, fittings, tools and equipment Total 2023 DKK DKK DKK DKK Cost at 1 January 2024 571.915 157.850 729.765 729.765 Disposals for the year -571.915 -157.850 -729.765 0 Cost at 31 December 2024 0 0 0 729.765 Depreciation and impairment losses at 1 January 2024 -571.915 -157.850 -729.765 -640.957 Depreciation for the year 0 0 0 -88.808 Reversal regarding disposals for the year 571.915 157.850 729.765 0 Depreciation and impairment losses at 31 December 2024 0 0 0 -729.765 Carrying amount at 31 December 2024 0 0 0 0 INVESTMENTS Investments in group enterprises Deposits Total 2023 DKK DKK DKK DKK Cost at 1 January 2024 5.940.362 324.342 6.264.704 6.264.704 Additions for the year 0 9.639 9.639 0 Cost at 31 December 2024 5.940.362 333.981 6.274.343 6.264.704 Revaluations at 1 January 2024 1.472.066 0 1.472.066 1.000.734 Exchange rate adjustments 140.778 0 140.778 -61.943 Revaluations for the year 34.057 0 34.057 533.275 Revaluations at 31 December 2024 1.646.901 0 1.646.901 1.472.066 Amortisation and impairment losses at 1 January 2024 -2.467.025 0 -2.467.025 -1.935.092 Amortisation for the year -531.932 0 -531.932 -531.933 Amortisation and impairment losses at 31 December 2024 -2.998.957 0 -2.998.957 -2.467.025 Carrying amount at 31 December 2024 4.588.306 333.981 4.922.287 5.269.745 INVESTMENTS IN GROUP ENTERPRISES According to annual report Clicklearn ApS' share Equity interest Contributed capital Profit/loss for the year Equity Share of profit/loss for the year Share of equity DKK DKK DKK DKK Clicklearn US inc. 100% 348.610 48.815 2.574.074 48.815 2.574.074 Integdevelopment ApS 100% 50.000 -14.758 152.470 -14.758 152.470 Total 34.057 2.726.544 Goodwill 1.861.762 Amortisations -531.932 0 Total -497.875 4.588.306 Recognition in balance sheet: Investments in group enterprises 4.588.306 Total 4.588.306 LONG-TERM LIABILITIES 31‑12‑2024 31‑12‑2023 DKK DKK Liabilities in total: Other payables 2.202.121 2.165.976 Total 2.202.121 2.165.976 CONTINGENT LIABILITIES Clicklearn ApS are jointly taxed with other group companies and are severally liable for tax on the jointly taxed incomes etc. of the group. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of tax on interest, dividend tax and tax on royalty payments. Any subsequent adjustments of corporation taxes and withholding taxes may increase the the company's liability. UNRECOGNISED CONTRACTUAL COMMITMENTS 2024 DKK The company has entered into rental commitment regarding rent of premises. The rental contract can be terminated with 6 months' notice. The total commitment represents 325.000 Total rental and lease obligations 325.000 Grundlag for konklusion Konklusion Regnskabsklasse B Årsrapport Revisionspåtegning Joachim Schiermacher Administrerende Direktør Michael Randrop Sørensen Direktør Michael Olsen Direktør Theis Linnet Aagaard Direktør Stine Bernt Stryhn mne45104 Martin Hansen inforevision statsautoriseret revisionsaktieselskab 19263096 19263096