39931370 2025-07-01 2025-12-31 39931370 2025-07-01 2025-12-31 1 39931370 2025-07-01 2025-12-31 2 39931370 2025-07-01 2025-12-31 1 39931370 2025-07-01 2025-12-31 2 39931370 2025-07-01 2025-12-31 1 39931370 2025-07-01 2025-12-31 2 39931370 2024-07-01 2025-06-30 39931370 2025-12-31 39931370 2025-06-30 39931370 2025-06-30 fsa:ContributedCapitalMember 39931370 2025-06-30 fsa:RetainedEarningsMember 39931370 2025-07-01 2025-12-31 fsa:RetainedEarningsMember 39931370 2025-12-31 fsa:ContributedCapitalMember 39931370 2025-12-31 fsa:RetainedEarningsMember iso4217:DKK xbrli:pure Annual report 2026-06-25 René Pejstrup The Board of Directors and the Executive Board have today considered and approved the annual report of VEM ApS for the financial year 01.07.2025 - 31.12.2025. 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 Entity’s financial position at 31.12.2025and of the results of its operations for the financial year 01.07.2025 - 31.12.2025. We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. We recommend the annual report for adoption at the Annual General Meeting. Skovlunde Jakob Rostgaard Steen René Pejstrup Martin Petersen Knut Akselvoll To the shareholders of VEM ApS We have performed an extended review of the financial statements of VEM ApS for the ​financial year 01.07.2025 -​31.12.2025, which comprise the income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. ​​​Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s ​​financial position at 31.12.2025 and of the results of its operations for the financial year 01.07.2025 - 31.12.2025in accordance with the Danish Financial Statements Act. We conducted our extended review in accordance with the assurance engagement standard for small enterprises ​as issued by the Danish Business Authority and the standard on extended review of financial statements ​prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. We are independent of the Entity 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. 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 Entity’s ability to continue ​as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so. Our responsibility is to express a conclusion on the financial statements. This requires that we plan and ​perform procedures to obtain limited assurance about our conclusion on the financial statements and that ​we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion.​​An extended review consists of making inquiries, primarily of Management and, if appropriate, of other entity ​personnel, performing analytical and the specifically required supplementary procedures as well as evaluating ​the evidence obtained.​​The procedures performed in an extended review are less in scope than in an audit, and accordingly we do ​not express an audit opinion on the financial statements. Management is responsible for the management commentary. ​​Our conclusion on the financial statements does not cover the management commentary, and we do not express ​any form of assurance conclusion thereon. ​​In connection with our extended review of the financial statements our responsibility is to read the management ​commentary and, in doing so, consider whether the management commentary is materially inconsistent ​with the financial statements or our knowledge obtained in the extended review or otherwise appears to be ​materially misstated. ​​Moreover, it is our responsibility to consider whether the management commentary provides the information ​required by relevant law and regulations.Based on the work we have performed, we conclude that the management commentary is in accordance with ​financial statements and has been prepared in accordance with the requirements in the relevant law and regulations. We did not identify any material misstatement of the management commentary. Copenhagen Deloitte Statsautoriseret Revisionspartnerselskab Deloitte Statsautoriseret Revisionspartnerselskab 33963556 33963556 Hans Tauby State Authorised Public Accountant mne44339 Marcus Rathje State Authorised Public Accountant mne51483 Primary activitiesThe company´s purpose is developing and selling software and other related business activities. Description of material changes in activities and financesThe company has changed its financial year from 01.07 - 30.06 to 01.01 - 31.12. The first financial year after the ​change is the period 01.07.2025 - 31.12.2025 (6 month period). The change has been made as result of ​establishing a new group affiliation. The comparative figures are therefore not comparable since the financial ​information for the comparative year are for 12 months and the current year is for 6 months. Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. 3496357 6218040 691890 1427934 2804467 4790106 0 4388 1694 52423 2802773 4742071 620695 543862 2182078 4198209 2182078 4198209 2182078 4198209 417075 1281245 260229 0 31376 0 1867 6535 710547 1287780 4579859 2027492 5290406 3315272 5290406 3315272 50000 50000 2860419 678341 2910419 728341 0 589003 0 589003 85344 69633 0 461022 2294643 1467273 2379987 1997928 2379987 2586931 5290406 3315272 50000 678341 728341 2182078 2182078 50000 2860419 2910419 1 Staff costs2025​DKK2024/25​DKKWages and salaries627,2331,293,902Pension costs54,000104,000Other social security costs10,65730,032691,8901,427,934Average number of full-time employees23 2 3 2 Tax on profit/loss for the year2025​DKK2024/25​DKKCurrent tax620,695543,862620,695543,862 3 Contingent liabilitiesThe Entity participates in a Danish joint taxation arrangement where AX VI INV6 Holding lll ApSserves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is​therefore liable for income taxes etc. for the jointly taxed entities, and for obligations, if any, relating to the withholding of tax on interest, royalties and dividend for the jointly taxed entities. The jointly taxed entities' total known net liability under the joint taxation arrangement is disclosed in the administration company's financial statements. This annual report has been presented in accordance with the provisions of the Danish Financial Statements ​Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year. Non-comparabilityThe company has changed its financial year from 01.07 - 30.06 to 01.01 - 31.12. The first financial year after the ​change is the period 01.07.2025 - 31.12.2025 (6 month period). The change has been made as result of ​establishing a new group affiliation. The comparative figures are therefore not comparable since the financial ​information for the comparative year are for 12 months and the current year is for 6 months. Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic ​benefits will flow to the Entity, and the value of the asset can be measured reliably. ​​Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a ​result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the ​value of the liability can be measured reliably. ​​On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial ​recognition is effected as described below for each financial statement item. ​​Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm ​or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and ​measurement. ​​Income is recognised in the income statement when earned, whereas costs are recognised by the amounts ​attributable to this financial year. Gross profit or lossGross profit or loss comprises revenue, changes in inventories of finished goods and work in progress, own ​work capitalised, other operating income, cost of raw materials and consumables and external expenses. RevenueRevenue from the sale of services is recognised in the income statement when delivery is made and risk has passed to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of​the consideration fixed. Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for normal inventory writedowns. Other external expensesOther external expenses include expenses relating to the Entity’s normal activities, including expenses for ​premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of ​receivables recognised in current assets. Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc . for entity staff. Other financial incomeOther financial income comprises dividends etc. received on other investments, interest income, exchange gains on securities, payables and transactions in foreign currencies, amortisation of financial assets, and tax relief under the Danish Tax Prepayment Scheme etc. Other financial expensesOther financial expenses comprise interest expenses, including exchange losses and tax surcharge under the Danish Tax Prepayment Scheme etc. Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the ​income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity. ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and ​doubtful debts. Joint taxation contributions receivable or payableCurrent joint taxation contributions payable or joint taxation contributions receivable are recognised in the balance sheet, calculated as tax computed on the taxable income for the year, which has been adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement. PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at ​cost. CashCash comprises cash in hand and bank deposits. Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. true Grundlag for konklusion Konklusion 2026-06-25 2026-06-25 true 2024-07-01 2025-06-30 København S 2300 6 Weidekampsgade Ballerup Skovlunde 2740 Regnskabsklasse B Erklæring om udvidet gennemgang 2025-12-31 2025-07-01 115 Meterbuen VEM ApS 39931370 33963556 2300 København S Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab