28866984 2023-01-01 2023-12-31 28866984 2023-12-31 28866984 2023-01-01 2023-12-31 1 28866984 2023-01-01 2023-12-31 1 28866984 2023-01-01 2023-12-31 101 28866984 2022-01-01 2022-12-31 28866984 2022-01-01 2022-12-31 1 28866984 2022-12-31 28866984 2022-01-01 2022-12-31 101 28866984 2021-01-01 2021-12-31 28866984 2021-01-01 2021-12-31 1 28866984 2021-12-31 28866984 2021-01-01 2021-12-31 101 28866984 2020-01-01 2020-12-31 28866984 2020-01-01 2020-12-31 1 28866984 2020-12-31 28866984 2020-01-01 2020-12-31 101 28866984 2019-01-01 2019-12-31 28866984 2019-01-01 2019-12-31 1 28866984 2019-12-31 28866984 2019-01-01 2019-12-31 101 28866984 2022-12-31 fsa:ContributedCapitalMember 28866984 2023-01-01 2023-12-31 fsa:ContributedCapitalMember 28866984 2023-12-31 fsa:ContributedCapitalMember 28866984 2022-12-31 fsa:RetainedEarningsMember 28866984 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 28866984 2023-12-31 fsa:RetainedEarningsMember 28866984 2023-01-01 2023-12-31 1 28866984 2023-01-01 2023-12-31 2 iso4217:DKK xbrli:pure Yas Farah Bakhsh Akbatani Michael Tangney Svilen Ivanov Karaivanov MANAGEMENT’S STATEMENTFor the Year Ended 31 December 2023The Executive Board has today considered and adopted the annual report of Google Denmark 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. Copenhagen Independent auditor's report To the shareholders of Google Denmark ApS Opinion We have audited the financial statements of Google Denmark ApS for the financial year 1 January – 31 December 2023, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. 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. Basis for opinion 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 our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence 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. Independent auditor's report ► Obtain an understanding of internal control relevant to the audit in order to design auditprocedures that are appropriate in the circumstances, but not for the purpose of expressing anopinion on the effectiveness of the Company's internal control.► Evaluate the appropriateness of accounting policies used and the reasonableness of accountingestimates and related disclosures made by Management.► Conclude on the appropriateness of Management's use of the going concern basis of accounting inpreparing the financial statements and, based on the audit evidence obtained, whether a materialuncertainty exists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If we conclude that a material uncertainty exists, we arerequired to draw attention in our auditor's report to the related disclosures in the financialstatements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are basedon the audit evidence obtained up to the date of our auditor's report. However, future events orconditions may cause the Company to cease to continue as a going concern.► Evaluate the overall presentation, structure and contents of the financial statements, including thenote disclosures, and whether the financial statements represent the underlying transactions andevents 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'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 as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. As part of an audit conducted in accordance with ISAs and 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 tofraud or error, design and perform audit procedures responsive to those risks and obtain auditevidence that is sufficient and appropriate to provide a basis for our opinion. The risk of notdetecting 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 ofinternal control. Statement on the Management's review Management is responsible for the Management's review. Our opinion on the financial statements does not cover the 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 the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of the Management's review. Herning Jesper Stier State Authorised Public Accountant mne42245 Google Denmark ApS Sankt Petri Passage 5,2 DK 1165 Kobenhavn K Copenhagen EY Godkendt Revisionspartnerselskab Dalgasgade 27,3 DK 7400 Herning Citibank Hedegaardsvej 88,1 2300 Kobenhavn S Financial Highlights Seen over a five-year period, the development of the Company is described by the following financial highlights:The ratios have been prepared in accordance with the recommendations and guidelines issued by the Danish Society of Financial Analysts. For definitions, see under accounting policies.Financial HighlightsExplanation of financial ratiosProfit margin Profit before financials x 100 RevenueReturn on assets Profit before financials x 100 Total assetsSolvency ratio Equity at year end x 100 Total assets at year endReturn on equity Net profit for the year x 100 Average equity 461994000 408274000 341287000 322426000 283541000 Operating profit/loss Operating profit/loss Operating profit/loss Operating profit/loss Operating profit/loss 83244000 76597000 51876000 54774000 22399000 7011000 660000 -240000 20000 -343000 70207000 60136000 48415000 21899000 16502000 412856000 348885000 243538000 263272000 201155000 309108000 238901000 178765000 130350000 108451000 1958000 1582000 39968000 17143000 9848000 158 144 139 123 123 0.194 0.188 0.182 0.1700 0.078 Return on assets Return on assets Return on assets Return on assets Return on assets 0.218 0.221 0.255 0.208 0.111 0.749 0.685 0.734 0.495 0.539 0.256 0.288 0.313 0.183 0.165 Key activitiesGoogle Denmark ApS is engaged in the provision of marketing and customer support services and the provision of contract research and development services to Group Enterprises. Corporate Social ResponsibilityIn accordance with the Danish Financial Statements Act (DFSA - section 99a), the parent company Google LLC, Corporate Identity Number 3582691, incorporated in the United States of America, prepares a non-financial social responsibility report for the group which includes Google Denmark ApS. This report is available on Google's corporate website at https://www.gstatic.com/gumdrop/sustainability/google-2024-eu-nfrd-report.pdf Reporting of goals and policies for the underrepresented gender cf. §99b The Company is not required to set a target for the supreme management body as it is constituted of two board members.Top Managerial Positions include members of the Executive Board. Employees in other managerial positions consist of employees within the two organisational levels below the Executive Board who own multiple processes and teams who oversee development of cross-organizational long-term growth goals and business innovation opportunitiesIn 2023, other managerial positions consisted of 52% percent women (13 women and 12 men). The Company is not required to set a target for the Leadership team as equal gender distribution has been achieved in 2023.We continue to ensure that gender diversity is an integrated part of our talent review, leadership development, and recruitment activities for leadership positions. A diverse workforce brings varied experiences, expertise, ideas, and innovation. To maintain a diverse workforce, we collaborate across the company to take advantage of knowledge sharing between culturally diverse groups.First, we have made a commitment to build towards and support a representative Google in each market including and beyond gender, as a long term goal. We know that there are lots of local factors that influence diversity, equity and inclusion, from local population demographics, to legislation, history and culture and therefore we have created an EMEA-wide strategy and greater scope for each EMEA country to define the priorities that matter most for them. Second, we are further increasing transparency. We aim to take the conversation—and our work—to the next level as we further refine our approach.We’ve published detailed workforce representation data in our global Diversity Annual Report 2024 available at https://about.google/belonging/diversity-annual-report/2024/Third, we have dedicated Employee Resource Groups (ERGs) and communities advocating for gender diversity: Google Women in Engineering (GWE) and Women@Google, both committed to empowering women by a wide range of initiatives: from mentoring and coaching for career progression; to networking, fostering allyship and community building. Google Denmark has its own country chapter of Women@ to support local challenges and opportunities for women at the country level. To support our goals, there have been ongoing discussions. For example, for International Women’s Day, we organized a ‘fireside’ discussion together with the Denmark Country Manager around how to support women in the workplace. One Google’s DEI strategy is to create a culture of belonging and inclusion and we have worked on and continue to work on many activities. For example, we continue to support and celebrate the Pride Parade in Copenhagen to show our overall support, and use this opportunity for conversations internally around intersectionality. This includes everyone at Google, but also users of the wider community that Googler operates in. Finally, our aim is to foster a basis for organic growth and development of female talent that includes our leadership levels, and that women are truly considered in our commitment to make sure we have the best candidate.Google's recruiting teams are committed to furthering Google’s diversity, equity & inclusion efforts. On the hiring front, they’ve taken a deeper look at the intent and actions that can truly support our inclusive strategies. These steps should be followed across all new talent searches on every team and only work if each of our people leaders is committed.Staffing partners complete training on unconscious bias and countering unconscious bias, along with several other core trainings. Staffing also audits ongoing open roles & new job postings to ensure accurate minimum and preferred qualifications and gender neutral language.Hiring managers completed training on unconscious bias and countering unconscious bias, along with several other core trainings. They also work with Staffing to consider candidates outside of traditional profiles, schools and companies. There are tools to enable writing inclusive job descriptions that limit non-negotiable minimum qualifications and include preferred qualifications based on success needed in role vs. perceived pedigree and familiarity of experience. Hiring managers are supported to make hiring decisions against validated minimum and preferred qualifications, not preference and asked to assemble interview panels that represent diversity of thought and perspective.Site teams also continue to volunteer to deliver activities throughout the year that focus on building a sense of inclusion and belonging for all Googlers. 2 0 25 0.52 MANAGEMENT’S REVIEWFor the Year Ended 31 December 2023The past year and follow up on development expectations from last yearThe income statement of the Company for 2023 shows a profit of TDKK 70,207, and at 31 December 2023 the balance sheet of the Company shows equity of TDKK 309,108.The Company recorded a profit before tax of TDKK 90,157 for 2023 which is an increase of 17% compared with 2022 and slightly exceeds expectations. This reflects a higher than expected level of growth in revenue.The Company has no plans or intention to restructure, reorganize or dispose of any assets other than those reflected in these financial statements, which could materially affect the book value or the classification of assets and liabilities, presentation of the income statement or which should be disclosed in these accounts. There are no future changes anticipated in the business of the Company at this time.In January 2023, Alphabet Inc announced a global reduction in workforce. The financial impact of the reduction in workforce has been reflected in the entity’s operating results.OutlookThe Company expects to continue its growth in 2024 and as such revenue and profits are expected to grow by a factor of 5 - 15% in 2024.Forward-looking statements are subject to risks and uncertainties that could cause the Company’s actual results to differ materially from those expressed in the forward looking statements.Operating risks As a provider of marketing and customer support services and contract research and development services to Group Enterprises, the Company's principal risks and uncertainties relate to scaling back its operations due to a reduction in demand for its services. The demand for its services would be impacted by the principal risks and uncertainties faced by Group Enterprises, namely:– These businesses face intense competition. If they do not continue to innovate and provide products and services that are useful to users, they may not remain competitive, and their revenues and operating results could be adversely affected.– These businesses generate their revenues almost entirely from advertising, and the reduction in spending by or loss of advertisers could seriously harm them.– A variety of new and existing U.S. and foreign laws could subject these businesses to claims or otherwise harm them.Critical accounting estimates and judgementsJudgement is involved in determining the Company's income taxes. Where the final tax outcome of these matters differs from the amounts that were initially recognised, such differences will impact the income tax and deferred tax, in the period in which such determination is made.Subsequent eventsNo events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. Data ethicsIn accordance with the Danish Financial Statements Act (DFSA - section 99d), the parent company Google LLC, Corporate Identity Number 3582691, incorporated in the United States of America, prepares a data ethics report for the group which includes Google Denmark ApS. This report is available on Google's corporate website at https://www.gstatic.com/gumdrop/sustainability/google-2024-eu-nfrd-report.pdf. 67232000 81290000 394762000 326984000 298533000 237317000 12985000 13070000 98000 4000 83146000 76593000 7156000 828000 145000 168000 90157000 77253000 19950000 17117000 3593000 4045000 28335000 39368000 8000 167000 31936000 43580000 52000 0 2401000 0 34389000 43580000 355881000 294301000 3963000 2069000 2684000 3838000 15461000 2021000 478000 3076000 378467000 305305000 378467000 305305000 750000 750000 308358000 238151000 699000 18400000 699000 18400000 0 236000 0 236000 9900000 6484000 342000 25780000 92789000 59040000 18000 44000 103049000 91348000 103049000 91584000 412856000 348885000 750000 238151000 0 70207000 750000 308358000 1. Critical accounting estimates and judgementsJudgement is involved in determining the Company's income taxes. Where the final tax outcome of these matters differs from the amounts that were initially recognised, such differences will impact the income tax and deferred tax, in the period in which such determination is made. 2. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 3. Revenue2023 2022TDKK TDKKDenmark0 0Rest of Europe 362,606 324,883America 99,388 83,391 461,994 408,274 Geographical segment and business are similar, hence they are disclosed together. 4. Staff expenses2023 2022TDKK TDKKWages and salaries 267,996 211,669 Pensions 20,707 16,787 Other staff expenses 9,830 8,861 298,533 237,317 The directors receive remuneration in respect of their services of the Company from other group companies. The cost of the services that they provide to the Company cannot be separately identified. 5. Depreciation and impairment of property, plant and equipment 2023 2022TDKK TDKKDepreciation of property, plant and equipment 12,985 13,070 12,985 13,070 6. Statutory and other information2023 2022TDKK TDKKStatutory audit 307 307 307 307 7. Financial income2023 2022TDKK TDKKInterest received from group enterprises 7,156 668 Other financial income 0 160 7,156 828 8. Financial expenses2023 2022TDKK TDKKOther financial expenses 80 0Foreign exchange losses 65 168 145 168 9. Tax on profit for the year2023 2022TDKK TDKKCurrent tax for the year 17,467 20,076 Deferred tax for the year 1,156 (4,230) Adjustment of deferred tax concerning previous years 1,327 1,271 19,950 17,117 10. Property, plant and equipmentOther fixtures LeaseholdProperty, plant Totaland fittings, improvementsand equipment tools and in progressequipmentTDKK TDKK TDKK TDKKCost at 1 January 2023 15,525 86,212 167 101,904 Additions for the year 1,865 93 0 1,958 Disposals for the year (1,898) (1,331) 0 (3,229) Transfers for the year 159 0 (159) 0Cost at 31 December 2023 15,651 84,974 8 100,633 Impairment losses and depreciation at 11,480 46,844 0 58,324 1 January 2023Depreciation for the year 1,859 11,126 0 12,985 Reversal of impairment and (1,281) (1,331) 0 (2,612) depreciation of sold assets for the yearImpairment losses and depreciation at 12,058 56,639 0 68,697 31 December 2023Carrying amount at 31 December 2023 3,593 28,335 8 31,936 11. Deferred tax asset / (liability) 2023 2022TDKK TDKKDeferred tax asset/liability at 1 January 3,838 (391) Amounts recognised in the income statement for the year (2,481) 2,959 Adjustment of deferred tax concerning previous years 1,327 1,271 Deferred tax asset at 31 December 2,684 3,838 The recognised tax asset comprises temporary differences associated with assets that are expected to be utilised within the next 5 years. 12. Prepayments Prepayments consist of prepaid expenses concerning rent and deposit for same and other external expenses. 13. Equity The share capital consists of 750 shares of a nominal value of TDKK 750. No shares carry any special rights. 70207000 60136000 15. Other provisions2023 2022TDKK TDKKOther provisions 699 18,400 699 18,400 The provisions are expected to mature as follows:Within 1 year 699 18,400 The Company has recognized provisions related to temporary staff services. Legal and constructive obligations relate to past events, and it is judged that the outflow of future economic benefits is highly probable. Accordingly, the Company recognized the provision by reflecting the best estimate, and uncertainty exists in the management's assumptions and judgments reflected in this process. 16. Long-term debtPayments due within 1 year are recognised in short-term debt. Other debt is recognised as long-term debt.The debt falls due for payment as specified below:2023 2022TDKK TDKKDeferred rentBetween 1 and 5 yearsLong-term part 0 236Short-term part 18 44 18 280 Other payablesOther short-term payables 92,789 59,040 92,789 59,040 17. Deferred rent Deferred rent consists of a rental discount which is accrued over the term of the lease period. 18. Contingent assets, liabilities and other financial obligations2023 2022TDKK TDKKRental and lease obligationsThe Company has entered into rental and lease agreements. 32,636 14,790 Other contingent liabilitiesThe group companies are jointly and 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 dividend tax, tax on royalty payments and tax on unearned income. Google Denmark is the management company of the joint taxation group. 19. Related partiesBasisControlling interestGoogle International LLC, USA Parent CompanyAlphabet Inc., USA Ultimate Parent CompanyTransactionsThe Company has chosen only to disclose transactions which have not been made on an arm’s length basis in accordance with section 98(c)(7) of the Danish Financial Statements Act.The Company has no transactions which have not been on arm's length basis.Consolidated Financial StatementsThe Company is included in the Group Annual Report of the Ultimate Parent Company:Name Place of registered officeAlphabet Inc. USAThe Group Annual Report of Alphabet Inc. may be obtained at the following address: 1600 Amphitheatre Parkway, Mountain View,California 94043,USAInvestor.google.com 20. Accounting PoliciesThe Annual Report of Google Denmark ApS for 2023 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to large-sized enterprises of reporting class C.The Financial Statements for 2023 are presented in TDKK.Recognition and measurementRevenues 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, 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.Translation policiesTransactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Where foreign exchange transactions are considered hedging of future cash flows, the value adjustments are recognised directly in equity.Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement.Fixed assets acquired in foreign currencies are measured at the transaction date rates.Income StatementRevenueThe Company has chosen IAS11/IAS 18 as interpretation for revenue recognition.Revenue from the sale of goods is recognised when the risks and rewards relating to the goods sold have been transferred to the purchaser, the revenue can be measured reliably and it is probable that the economic benefits relating to the sale will flow to the Company.Services are recognised at the rate of completion of the service to which the contract relates by using the percentage-of-completion method, which means that revenue equals the selling price of the service completed for the year. This method is applied when total revenues and expenses in respect of the service and the stage of completion at the balance sheet date can be measured reliably, and it is probable that the economic benefits, including payments, will flow to the Company. The stage of completion is determined on the basis of the ratio between the expenses incurred and the total expected expenses of the service.Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales.Other external expensesOther external expenses comprise cost relating to advertising, administration, premises, operating lease expenses and similar expenses.Staff expensesStaff expenses comprise wages and salaries as well as payroll expenses.Depreciation and impairment of property, plant and equipmentDepreciation and impairment losses comprise depreciation and impairment of property, plant and equipment.Other operating income and expensesOther operating income and other operating expenses comprise items of a secondary nature to the main activities of the Company, including gains and losses on the sale of fixed assets.Financial income and expensesFinancial income and expenses are recognised in the income statement at the amounts relating to the financial year.Tax on profit for the yearTax 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 Danish group enterprises. The tax effect of the joint taxation is allocated to enterprises in proportion to their taxable income.Balance SheetProperty, plant and equipmentProperty, plant and equipment are measured at cost less accumulated depreciation and less any accumulated impairment losses.Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use.Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are:Other fixtures and fittings, tools and equipment 1 - 5 yearsLeasehold improvements 7 yearsDepreciation period and residual value are reassessed annually.Impairment of property, plant and equipmentThe carrying amounts of property, plant and equipment are assessed on an annual basis to determine whether there is any indication of impairment other than that expressed by depreciation.If so, the asset is written down to its lower recoverable amount.ReceivablesThe Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables.Receivables are measured at amortised cost. Write-down for bad and doubtful debts is made when there is objective evidence that a receivable or a portfolio of receivables has been impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis.Receivables in respect of which there is no objective evidence of individual impairment are tested for objective evidence of impairment on a portfolio basis. The portfolios are primarily based on the country of domicile and credit ratings of the debtors in accordance with the credit risk management policy of the Parent Company and the Group. The objective evidence applied to portfolios is determined based on historical loss experience.Impairment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flows, including the realisable value of any collateral received. The effective interest rate of the individual receivable or portfolio is used as discount rate. PrepaymentsPrepayments comprise prepaid expenses concerning subsequent financial reporting years.CashThe Company participates in an intragroup cash pooling program, which involves the transfer of cash amounts, bank overdrafts and balances with related parties to an intragroup cash pooling company. The amounts placed with the cash pooling company are classified under “Receivables from group enterprises”. ProvisionsProvisions are recognised when - in consequence of an event occurred before or on the balance sheet date;- the Company has a legal or constructive obligation; and - it is probable that economic benefits must be given up to settle the obligation.Deferred tax assets and liabilitiesDeferred income tax is measured using the balance sheet liability method in respect of temporary differencearising between the tax bases of assets and liabilities and their carrying amounts for financial reportinpurposes 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 belimination in tax on future earnings or by set-off against deferred tax liabilities within the same legal taentity.Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislatioat the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes ideferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferretax relates to items recognised in equity.Corporation tax Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable incomfor the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments anrepayment under the on-account taxation scheme are recognised in the income statement in tax on profi(loss) for the year.Financial debtsDebts are measured at amortised cost, substantially corresponding to nominal value.Deferred rentDeferred rent consists of a rental discount which is accrued over the term of the lease period.Segment informationThe allocation of revenue to activities and geographical markets is disclosed where these activities and markets differ significantly in the organisation of sales of goods and services. true Cash flow statementWith reference to section 86(4) of the Danish Financial Statements Act and to the cash flow statement included in the consolidated financial statements of Alphabet Inc., the Company has not prepared a cash flow statement. Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2023-01-01 2023-12-31 2022-01-01 2022-12-31 2024-06-28 Reporting class C, large enterprise 28866984 https://www.gstatic.com/gumdrop/sustainability/google-2024-eunfrd-report.pdf https://www.gstatic.com/gumdrop/sustainability/google-2024-eu-nfrd-report.pdf 2024-06-28 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup Opinion Basis for Opinion 2024-06-28 30700228