45255093 2024-12-05 2026-04-30 45255093 2024-12-05 2026-04-30 memberOfBoardIdentifier_executive_board_1 45255093 2024-12-05 2026-04-30 memberOfBoardIdentifier_board_of_director_1 45255093 2024-12-05 2026-04-30 memberOfBoardIdentifier_board_of_director_2 45255093 2024-12-05 2026-04-30 memberOfBoardIdentifier_board_of_director_3 45255093 2024-12-05 2026-04-30 1 45255093 2026-04-30 45255093 2024-12-05 2026-04-30 fsa:ContributedCapitalMember 45255093 2024-12-05 2026-04-30 fsa:RetainedEarningsMember 45255093 2026-04-30 fsa:ContributedCapitalMember 45255093 2026-04-30 fsa:RetainedEarningsMember 45255093 2024-12-05 fsa:AcquiredOtherSimilarRightsMember 45255093 2024-12-05 fsa:GoodwillMember 45255093 2024-12-05 2026-04-30 fsa:AcquiredOtherSimilarRightsMember 45255093 2024-12-05 2026-04-30 fsa:GoodwillMember 45255093 2026-04-30 fsa:AcquiredOtherSimilarRightsMember 45255093 2026-04-30 fsa:GoodwillMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2024-12-05 2026-04-30 Regnskabsklasse B Erklæring om udvidet gennemgang true 2026-06-22 Casper Pasgaard Dybdal The Executive Board and Board of Directors have today considered and adopted the Annual Report of Tideform A/S for the financial year 5 December 2024 - 30 April 2026. 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 30 April 2026 of the Company and of the results of the Company operations for 2024/26. We recommend that the Annual Report be adopted at the Annual General Meeting. Middelfart 2026-06-22 Kenneth Zahti Juhls Manager Michael Krabbe Anders Grønborg Søren Nørgaard Chairman To the shareholder of Tideform A/S Opinion We have performed an extended review of the Financial Statements of Tideform A/S for the financial year 5 December 2024 - 30 April 2026, which comprise 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 the work performed, in our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 30 April 2026 and of the results of the Company’s operations for the financial year 5 December 2024 - 30 April 2026 in accordance with the Danish Financial Statements Act. Basis for Opinion We conducted our extended review in accordance with the Danish Business Authority’s Assurance Standard for Small Enterprises and FSR – Danish Auditors’ standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act. Our responsibilities under those standards and requirements are further described in the ”Practitioner’s responsibilities for the extended review of the Financial Statements” section of our report. 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. 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 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. Our responsibility is to express a conclusion on the Financial Statements. This requires that we plan and perform procedures to obtain limited assurance in respect of our conclusion on the Financial Statements and, moreover, that we perform supplementary procedures specifically required to obtain additional assurance in respect of our conclusion.An extended review consists of making inquiries, primarily of Management and others within the enterprise, as appropriate, and applying analytical procedures and the supplementary procedures specifically required as well as assessing the evidence obtained. An extended review is less in scope than an audit and, consequently, we do not express an audit opinion on the Financial Statements. Trekantområdet 2026-06-22 PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab 33771231 Lasse Berg State Authorised Public Accountant mne35811 Tideform A/S Strandvejen 5 5500 Middelfart 45255093 Middelfart Herredsvej 32 7100 Vejle -1915000 757000 -2672000 36000 191000 -2827000 -622000 -2205000 -2205000 4269000 5339000 9608000 9608000 130000 333000 891000 15000 1369000 1369000 10977000 500000 -2205000 -1705000 269000 269000 703000 803000 10907000 12413000 12413000 10977000 500000 0 500000 0 -2205000 -2205000 500000 -2205000 -1705000 In order to ensure the basis for going concern, the company has received a letter of financial support from the parent company on an ongoing basis until the company's publication of the annual report for 2026/27. On this basis, management has presented the annual report on the assumption of going concern. The company's purpose is to develop and innovate digital solutions as well as to enter into partnerships for the innovation of these solutions. Additionally, the company may potentially invest in startups or digital funds in the future. 1 The company has one employee, the CEO, who has not received remuneration in the fiscal year. 178000 12000 1000 191000 -891000 269000 -622000 0 0 4657000 5708000 4657000 5708000 0 0 388000 369000 388000 369000 4269000 5339000 5 years7 years Other contingent liabilitiesThe group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable is disclosed in the Annual Report of SelfGenerations T ApS, which is the management company of the joint taxation purposes. 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. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company's liability.Other financial obligationsThere are no other significant financial obligations as of April 30, 2026. Related parties include the board of directors, management and senior employees of the group's companies as well as companies in which the above-mentioned group of people has significant interests.The company is included in the consolidated accounts for the immediate parent company Bunker Holding A/S, Middelfart, Denmark.Decisive influence is exercised through the company's immediate parent company Bunker Holding A/S. The company's ultimate parent company, which prepares consolidated accounts, is SelfGenerations T ApS, in which Torben Østergaard-Nielsen has a controlling influence. The Annual Report of Tideform A/S for 2024/26 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B as well as selected rules applying to reporting class C.The Financial Statements for 2024/26 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, 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. Translation policiesDanish kroner is used as the presentation currency. All other currencies are regarded as foreign currencies.Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Gains and losses 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.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. RevenueRevenue 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 expenses for premises, sales as well as office expenses, etc. Gross lossWith reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue and other external expenses. Amortisation, depreciation and impairment lossesAmortisation, depreciation and impairment losses comprise amortisation and impairment of intangible assets. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Tax on profit/loss 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 SelfGenerations T ApS. The tax effect of the joint taxation is allocated to enterprises in proportion to their taxable incomes. Intangible fixed assetsGoodwill acquired is measured at cost less accumulated amortisation. It is subsequently amortised on a straight-line basis over its estimated useful life. Management has assessed the useful life of goodwill to be 7 years, reflecting the period over which the economic benefits from the acquired businesses are expected to be realised.This assessment is based on management’s market knowledge as well as the knowledge obtained about the acquired digital platform, including expectations regarding its development, customer relationships, and market position. The assessment acknowledges the potential erosion of these factors due to market dynamics and technological changes. The 7-year period represents a prudent and realistic estimate of the consumption of economic benefits.The amortisation period is reviewed at least at each financial year-end. Impairment tests are performed whenever there is an indication of impairment, with any loss recognised for the amount by which the carrying amount exceeds the recoverable amount.Software are measured at the lower of cost less accumulated amortisation and recoverable amount. Software are amortised over the remaining period; however not exceeding 5 year. Impairment of fixed assetsThe carrying amounts of intangible assets are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by amortisation.If so, the asset is written down to its lower recoverable 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. PrepaymentsPrepayments comprise prepaid expenses concerning rent, insurance premiums, subscriptions and interest. 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, including the tax base of tax loss carry-forwards, 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. Current tax receivables and liabilitiesCurrent 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 financial income and expenses. Debts are measured at amortised cost, substantially corresponding to nominal value.