28866984 2025-01-01 2025-12-31 28866984 2025-01-01 2025-12-31 1 28866984 2025-01-01 2025-12-31 2 28866984 2025-01-01 2025-12-31 1 28866984 2025-01-01 2025-12-31 2 28866984 2024-01-01 2024-12-31 28866984 2023-01-01 2023-12-31 28866984 2022-01-01 2022-12-31 28866984 2021-01-01 2021-12-31 28866984 2025-12-31 28866984 2024-12-31 28866984 2023-12-31 28866984 2022-12-31 28866984 2021-12-31 28866984 2021-01-01 2021-12-31 101 28866984 2022-01-01 2022-12-31 101 28866984 2023-01-01 2023-12-31 101 28866984 2024-01-01 2024-12-31 101 28866984 2025-01-01 2025-12-31 101 28866984 2021-01-01 2021-12-31 102 28866984 2022-01-01 2022-12-31 102 28866984 2023-01-01 2023-12-31 102 28866984 2024-01-01 2024-12-31 102 28866984 2025-01-01 2025-12-31 102 28866984 2024-12-31 fsa:ContributedCapitalMember 28866984 2024-12-31 fsa:RetainedEarningsMember 28866984 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 28866984 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 28866984 2025-12-31 fsa:ContributedCapitalMember 28866984 2025-12-31 fsa:RetainedEarningsMember 28866984 2025-01-01 2025-12-31 fsa:DistributionAfterAttributableToMinorityInterestMember 28866984 2024-01-01 2024-12-31 fsa:DistributionAfterAttributableToMinorityInterestMember iso4217:DKK xbrli:pure Yas Akbatani-Schøtt Copenhagen Frank Fagan Svilen Ivanov Karaivanov MANAGEMENT’S STATEMENTFor the year ended 31 December 2025The Executive Board has today considered and adopted the annual report of Google Denmark ApS for the financial year 1 January - 31 December 2025.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 2025 of the Company and of the results of the Company operations for 2025.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. 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 2025, which comprise income statement, balance sheet, statement of changes in equity, notes and 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 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 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. Management's responsibilities for the financial statements Management is responsible for the preparation of financial statements that give a true and fair view in accordancewith 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 aa 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 tocease 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 to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. ► Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. ► Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. ► Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern. ► Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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. Copenhagen Kennet Hartmann State Authorised Public Accountant mne40036 Rikke Buchholt State Authorised Public Accountant mne46359 Google Denmark ApS Sankt Petri Passage 5,2. DK 1165 Kobenhavn K Copenhagen EY Godkendt Revisionspartnerselskab Dirch Passers Allé 36 DK 2000 Frederiksberg Citibank Hedegaardsvej 88,1. 2300 Kobenhavn S 450762000 454300000 461994000 408274000 341287000 97652000 85411000 83244000 76597000 51876000 7830000 11259000 7011000 660000 -240000 82176000 72967000 70207000 60136000 48415000 537745000 458075000 412856000 348885000 243538000 464251000 382075000 309108000 238901000 178765000 3424000 2632000 1958000 1582000 39968000 139 153 158 144 139 Profit margin Profit margin Profit margin Profit margin Profit margin 0.234 0.212 0.194 0.188 0.182 Return on assets Return on assets Return on assets Return on assets Return on assets 0.196 0.211 0.218 0.221 0.255 0.863 0.834 0.749 0.685 0.734 0.194 0.211 0.256 0.288 0.313 Explanation 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 MANAGEMENT’S REVIEWFor the year ended 31 December 2025The past year and follow up on development expectations from last yearThe income statement of the Company for 2025 shows a profit of TDKK 82,176, and at 31 December 2025 the balance sheet of the Company shows equity of TDKK 464,251.The Company recorded a profit before tax of TDKK 105,482 for 2025 which is an increase of 9% compared with 2024 and is in line with expectations. Revenue decreased by 1% to TDKK 450,762 during the period, due to a decrease in the provision of marketing and support services to Group Enterprises.OutlookThe Company expects profits before financial income and expenses for 2026 to be in line with 2025.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 judgementsIn the process of applying the Company’s accounting policies, management is of the opinion that there are no critical judgements involved that have a significant material effect on the amounts recognised in the financial statements, or no sources of estimation uncertainty involved that have a significant material effect on the amounts recognised in the financial statements.Subsequent eventsNo events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 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. 450762000 454300000 68754000 61530000 382008000 392770000 276748000 298190000 7896000 9169000 288000 0 97652000 85411000 7910000 12121000 80000 861000 105482000 96671000 23306000 23704000 82176000 72967000 3491000 3358000 16252000 20840000 1023000 1040000 20766000 25238000 2290000 2423000 23056000 27661000 508258000 420777000 1343000 1178000 2906000 2858000 2182000 5487000 0 114000 514689000 430414000 514689000 430414000 537745000 458075000 750000 750000 463501000 381325000 464251000 382075000 87000 5000 87000 5000 10098000 6943000 3405000 12031000 73407000 75995000 73494000 76000000 537745000 458075000 750000 381325000 382075000 0 82176000 82176000 750000 463501000 464251000 1. Critical accounting estimates and judgementsIn the process of applying the Company’s accounting policies, management is of the opinion that there are no critical judgements involved that have a significant material effect on the amounts recognised in the financial statements, or no sources of estimation uncertainty involved that have a significant material effect on the amounts recognised in the financial statements. 2. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 3. Revenue2025 2024TDKK TDKKDenmark0 0Rest of Europe 347,478 353,261America 103,284 101,040 450,762 454,300 Geographical segment and business are similar, hence they are disclosed together. 4. Fees paid to auditor appointed at the annual general meeting2025 2024TDKK TDKK407 406Total Fees to EYFee for Statutory audit 407 406 407 406 5. Staff expenses2025 2024TDKK TDKKWages and salaries 234,403 246,682 Pensions 19,907 19,072 Other staff expenses 22,438 32,436 276,748 298,190 139 153 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 is estimated at 120,000 DKK. 6. Depreciation and impairment of property, plant and equipment 2025 2024TDKK TDKKDepreciation of property, plant and equipment 7,896 9,169 7,896 9,169 7. Financial income2025 2024TDKK TDKKInterest received from group enterprises 7,747 11,348 Other financial income 0 773Foreign exchange gains 163 0 7,910 12,121 8. Financial expenses2025 2024TDKK TDKKOther financial expenses 80 667Foreign exchange losses 0 194 9. Tax on profit for the year2025 2024TDKK TDKKCurrent tax for the year 23,354 21,501 Deferred tax for the year (48) (174) Adjustment of tax concerning previous years 0 2,377 23,306 23,704 10. Property, plant and equipmentOther fixtures LeaseholdProperty, plant Totaland fittings, improvementsand equipment tools and in progressequipmentTDKK TDKK TDKK TDKKCost at 1 January 2025 17,080 84,974 1,040 103,094 Additions for the year 1,947 0 1,477 3,424 Transfers for the year 8 1,486 (1,494) 0Cost at 31 December 2025 19,035 86,460 1,023 106,518 Impairment losses and depreciation at 13,722 64,134 0 77,856 1 January 2025Depreciation for the year 1,822 6,074 0 7,896 Impairment losses and depreciation at 15,544 70,208 0 85,752 31 December 2025Carrying amount at 31 December 2025 3,491 16,252 1,023 20,766 11. Receivables from group enterprisesReceivables from group enterprises includes amounts that relate to the Company's participation in an intragroup cash pooling program. The program involves the transfer of cash amounts that the Company had previously held with external banks and balances with related parties to an intragroup cash pooling company, as part of the efficient management of cash balances within the wider group. 12. Deferred tax asset 2025 2024TDKK TDKKDeferred tax asset at 1 January 2,858 2,684 Amounts recognised in the income statement for the year 48 174 Deferred tax asset at 31 December 2,906 2,858 The recognised tax asset comprises temporary differences associated with assets that are expected to be utilised within the next 5 years. 13. Equity The share capital consists of 750 shares of a nominal value of TDKK 750. No shares carry any special rights. 82176000 72967000 82176000 72967000 15. 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:2025 2024TDKK TDKKDeferred rentBetween 1 and 5 yearsLong-term part 87 5Short-term part 17 0 104 5 Other payablesOther short-term payables 59,887 57,021 59,887 57,021 Deferred rent consists of a rental discount which is accrued over the term of the lease period. 16. Contractual obligations and contingenciesOperating lease commitments2025 2024TDKK TDKKRental and lease obligationsThe Company has entered into rental and lease agreements. 19,451 25,635 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. Moreover, the Company has concluded customary bilateral agreements in the ordinary course of business of the Company. 17. Pledges and collateralsThe company has not provided collateral or other security in assets as of 31 December 2025. 18. Related parties TransactionsThe 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 19. Accounting PoliciesThe Annual Report of Google Denmark ApS for 2025 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 2025 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.Transactions and balancesTransactions in currencies other than the Company’s functional currency (“foreign currency”) are recorded at rates of exchange which approximates the actual rates on the date of the transaction. At each reporting date, monetary items denominated in foreign currencies are retranslated at the rates prevailing on the reporting date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.Exchange differences arising on the settlement of monetary items and on translation of monetary items are included in profit or loss for the financial year.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 costs comprise wages and salaries, including holiday allowance and pensions, and other social security costs for the Company's employees.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. Financial income and expenses comprise interest income and expense, as well as realised and unrealised gains and losses on transactions denominated in foreign currencies. 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.In case of changes in the depreciation period or the residual value, the effect on the depreciation charges is recognised prospectively as a change in accounting estimates. 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 differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of the asset and settlement of the liability, respectively.Deferred tax assets are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities within the same legal tax entity.Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity.Corporation tax Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxation scheme are recognised in the income statement in tax on profit/(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 2025-01-01 2025-12-31 2024-01-01 2024-12-31 2026-06-26 Reporting class C, large enterprise 28866984 https://sustainability.google/files/google-2026-eu-nfrd-report/ https://sustainability.google/files/google-2026-eu-nfrd-report/ 2026-06-26 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup Opinion Basis for Opinion 2026-06-26 30700228 30700228 EY Godkendt Revisionspartnerselskab Dirch Passers Allé 36 2000 Frederiksberg DK 59904000 57021000