Årsrapport34209936Grant Thornton, Godkendt RevisionspartnerselskabLautrupsgade, 112100, København Ø2023-01-012023-12-312024-01-012024-12-3143648926ESO Solutions Denmark ApSSundkrogsgade 552100København Ø+4545505099Grant Thornton, Godkendt Revisionspartnerselskab34209936Emil Odfeldtstatsautoriseret revisormne50608Lautrupsgade112100København ØDanmark+45 33 110 220info@dk.gt.com2025-05-16Robert Linton Reeves MundenRegnskabsklasse BAndre erklæringer uden sikkerhedCaseWare fra Revisorgruppen DanmarkanpartshaverneKøbenhavn2025-05-16København Ø2025-05-1600385000-385000-385000-116948180128511460-245844640-245844640-245844640341036846034103684603410368460040000040000040000341036846400000400014000012670488401267448854000038500021425346102142919610214291961034103684640000128511460128511460400004000010400014000015128934801512893480-24584464015128934801267048840Today, the Executive Board has approved the annual report of ESO Solutions Denmark ApS for the financial year 1 January - 31 December 2024. The annual report has been prepared in accordance with the Danish Financial Statements Act. We consider the chosen accounting policy to be appropriate, and in our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2024 and of the results of the Company's operations for the financial year 1 January – 31 December 2024. The Executive Board consider the conditions for audit exemption of the 2024 financial statements to be met. Further, in our opinion, the Management's review gives a true and fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the Annual General Meeting. Robert Linton Reeves MundenCoralie Cecile Tournier WitterEric Henry BeckSamuel Huntington BrownWe have compiled the financial statements of ESO Solutions Denmark ApS for the financial year 1 January - 31 December 2024 based on the company's bookkeeping and on information you have provided. These financial statements comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity and notes. We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), Compilation Engagements. We have applied our expertise in accounting and financial reporting to assist Management in the preparation and presentation of these financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant requirements under the Danish Act on Approved Auditors and Audit Firms and International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) including principles of integrity, objectivity, professional competence and due care. These financial statements and the accuracy and completeness of the information used to compile them are your responsibility. Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with the Danish Financial Statements Act. Description of key activities of the company Like previous years, the activities, consisted of owning equity interests in other companies and conducting investment activities, as well as related business operations as deemed appropriate by management. Significant changes in the company's activities and financial matters There have been no significant changes in activities and financial matters. The company has acquired investments in Logis A/S during the financial year. Events occurring after the end of the financial year No events materially affecting the assessments of the annual report have ocurred after the balance sheet date. 1. Financing The ultimate parent company ESO Solutions Inc. has in a support letter of 13. May 2025 given commitment to support the company, so that the company's normal business acitivties will continue and the capital ressources are intact until 1 January 2026. 3. Contingencies Joint taxation The company acts as administration company for the group of companies subject to the Danish scheme of joint taxation and is unlimitedly, jointly, and severally liable, along with the other jointly taxed companies, to pay the total corporation tax. The annual report for ESO Solutions Denmark ApS has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class B enterprises. Furthermore, the company has decided to comply with certain rules applying to reporting class C enterprises. The accounting policies are unchanged from last year, and the annual report is presented in DKK. Other external expenses Other external expenses comprise expenses incurred for distribution, sales, advertising, administration, premises, loss on receivables, and operational leasing costs. Results from investments in group enterprises After full elimination of intercompany profit or loss less amortised consolidated goodwill, the investment in the individual entities are recognised in the income statement as a proportional share of the entities' post-tax profit or loss. Financial income and expenses Financial income and expenses are recognised in the income statement with the amounts concerning the financial year. Financial income and expenses comprise interest income and expenses, debt and transactions in foreign currency, amortisation of financial assets and liabilities as well as surcharges and reimbursements under the advance tax scheme, etc. Tax on net profit or loss for the year Tax for the year comprises the current income tax for the year and changes in deferred tax and is recognised in the income statement with the share attributable to the net profit or loss for the year and directly in equity with the share attributable to entries directly in equity. The company is subject to Danish rules on compulsory joint taxation of Danish group enterprises. The company acts as an administration company in relation to the joint taxation. This means that the total Danish tax payable by the Danish consolidated companies is paid to the tax authorities by the company. The current Danish income tax is allocated among the jointly taxed companies proportional to their respective taxable income (full allocation with reimbursement of tax losses). Investments in group enterprises Investments in group enterprises are recognised and measured by applying the equity method. The equity method is used as a method of consolidation. Investments in group enterprises are recognised in the statement of financial position at the proportionate share of the enterprise's equity value. This value is calculated in accordance with the parent's accounting policies with deductions or additions of unrealised intercompany gains and losses as well as with additions or deductions of the remaining value of positive or negative goodwill calculated in accordance with the acquisition method. Negative goodwill is recognised in the income statement at the time of acquisition of the equity investment. If the negative goodwill relates to contingent liabilities acquired, negative goodwill is not recognised until the contingent liabilities have been settled or lapsed. Consolidated goodwill is amortised over its estimated useful life, which is determined on the basis of the management's experience with the individual business areas. Consolidated goodwill is amortised on a straight-line basis over the amortisation period, which represent 5-20 years. The depreciation period is determined on the basis of an assessment that these are strategically acquired enterprises with a strong market position and a long-term earnings profile. In relation to material assets and liabilities recognised in group enterprises but are not represented in the parent, the following accounting policies have been applied. Investments in group enterprises with a negative equity value are measured at DKK 0, and any accounts receivable from these enterprises are written down to the extent that the account receivable is uncollectible. To the extent that the parent has a legal or constructive obligation to cover an negative balance that exceeds the account receivable, the remaining amount is recognised under provisions. To the extent the equity exceeds the cost, the net revaluation of equity investments in group enterprises transferred to the reserve under equity for net revaluation according to the equity method. Dividends from group enterprises expected to be adopted before the approval of this annual report are not subject to a limitation of the revaluation reserve. The reserve is adjusted by other equity movements in group enterprises. Newly acquired or newly established companies are recognised in the financial statement as of the time of acquisition. Sold or liquidated companies are recognised until the date of disposal. On the acquisition of enterprises, the acquisition method, the uniting-of-interests method or the book value method is applied, cf. the above description under Business combinations. Impairment loss relating to non-current assets The carrying amount of both intangible and tangible fixed assets as well as equity investments in group enterprises are subject to annual impairment tests in order to disclose any indications of impairment beyond those expressed by amortisation and depreciation respectively. If indications of impairment are disclosed, impairment tests are carried out for each individual asset or group of assets, respectively. write-down for impairment is done to the recoverable amount if this value is lower than the carrying amount. The recoverable amount is the higher value of value in use and selling price less expected selling cost. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the asset group and expected net cash flows from the sale of the asset or the asset group after the end of their useful life. Previously recognised impairment losses are reversed when conditions for impairment no longer exist. Impairment relating to goodwill is not reversed. Receivables Receivables are measured at amortised cost, which usually corresponds to nominal value. Impairment losses are calculated as the difference between the carrying amount of accounts receivable and the present value of the expected cash flows, including the realisable value of any securities received. The effective interest rate for the individual account receivable or portfolio is used as the discount rate. Liabilities other than provisions Other liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value. 436489262024-01-012024-12-31436489262023-01-012023-12-31436489262023-12-31436489262024-12-31436489262024-01-012024-12-312436489262024-01-012024-12-311436489262024-01-012024-12-313436489262024-01-012024-12-314436489262024-01-012024-12-311436489262024-01-01e:ContributedCapitalMember436489262024-01-012024-12-31e:ContributedCapitalMember436489262024-12-31e:ContributedCapitalMember436489262024-01-012024-12-31e:SharePremiumMember436489262024-01-012024-12-31e:RetainedEarningsMember436489262024-12-31e:RetainedEarningsMember436489262023-01-01e:ContributedCapitalMember436489262023-01-012023-12-31e:ContributedCapitalMember436489262023-12-31e:ContributedCapitalMember436489262023-01-012023-12-31e:SharePremiumMember436489262023-01-012023-12-31e:RetainedEarningsMember436489262023-12-31e:RetainedEarningsMemberiso4217:DKK