16200743 2025-01-01 2025-12-31 16200743 2025-01-01 2025-12-31 memberOfBoardIdentifier_executive_board_1 16200743 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_1 16200743 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_2 16200743 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_3 16200743 2025-01-01 2025-12-31 1 16200743 2024-01-01 2024-12-31 16200743 2025-12-31 16200743 2024-12-31 16200743 2025-01-01 fsa:ContributedCapitalMember 16200743 2025-01-01 fsa:RetainedEarningsMember 16200743 2025-01-01 16200743 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 16200743 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 16200743 2025-12-31 fsa:ContributedCapitalMember 16200743 2025-12-31 fsa:RetainedEarningsMember 16200743 2025-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 16200743 2025-01-01 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 16200743 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 16200743 2025-01-01 fsa:DepositsLongtermInvestmentsAndReceivablesMember 16200743 2025-01-01 2025-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember 16200743 2025-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember 16200743 2025-12-31 fsa:LongtermPayablesToGroupEnterprisesMember 16200743 2024-12-31 fsa:LongtermPayablesToGroupEnterprisesMember 16200743 2025-12-31 fsa:ShorttermPayablesToGroupEnterprisesMember 16200743 2024-12-31 fsa:ShorttermPayablesToGroupEnterprisesMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2025-01-01 2024-01-01 2025-12-31 2024-12-31 Regnskabsklasse B Erklæring om udvidet gennemgang true 2026-06-26 Erik Grefberg The Executive Board and Board of Directors have today considered and adopted the Annual Report of Selmatec A/S 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. We recommend that the Annual Report be adopted at the Annual General Meeting. Lynge 2026-06-26 Bøye Einang CEO Erik Grefberg Bøye Einang Christian Brikt Andersen Chairman To the shareholder of Selmatec A/S Opinion We have performed an extended review of the Financial Statements of Selmatec A/S for the financial year 1 January - 31 December 2025, 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 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 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. Hellerup 2026-06-26 PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab 33771231 Flemming Eghoff State Authorised Public Accountant mne30221 Selmatec A/S Industriskellet 7 3540 Lynge 16200743 Lynge Strandvejen 44 2900 Hellerup 9280953 2099114 8918289 6049168 100857 55619 261807 -4005673 4195682 187112 2580981 183120 1876508 -4001681 -1257194 -21464 3133702 -3980217 3133702 -3980217 279603 319552 279603 319552 145282 125494 145282 125494 424885 445046 15418571 10991758 15418571 10991758 14407210 12734677 33122 307615 1256128 0 0 21464 160031 159638 15856491 13223394 983 2084941 31276045 26300093 31700930 26745139 501000 501000 -155130 -3288832 345870 -2787832 0 3602657 0 3602657 11755055 8403326 1754576 12279728 12356899 1821789 4931197 3425471 557333 0 31355060 25930314 31355060 29532971 31700930 26745139 501000 -3288832 -2787832 0 3133702 3133702 501000 -155130 345870 At 31 December 2025 the Company's short-term liabilities exceed its current assets by DKK 79k. The Company has received a letter of subordination from Selmatec AS regarding the payables to group entities which is valid until the ordinary annual general meeting in 2027. Management has therefore assessed that the Company will be able to meet its obligations as they fall due and, on that basis, has prepared the financial statements on a going concern basis. The company is an agency that imports products within warehouse equipment, coolants and lubricants, and industrial tools, mainly from manufacturers in Switzerland and Germany. The products are sold to a wide range of industrial companies on the Danish market. 8353542 5575964 504769 418984 59978 54220 8918289 6049168 9 7 60963 79496 4134719 107616 4195682 187112 708749 105061 27414 16439 1844818 61620 2580981 183120 0 -21464 -1256128 0 -1066 0 -1257194 -21464 365201 60908 426109 45649 100857 146506 279603 125494 19788 145282 145282 Payments due within 1 year are recognised in short-term debt. Other debt is recognised in long-term debt.The debt falls due for payment as specified below:Payables to group enterprises12,356,8995,424,446 0 0 0 3602657 0 3602657 12356899 1821789 Rental and lease obligationsLease obligations under operating leases. Total future lease payments:Within 1 year783,768778,747Between 1 and 5 years1,570,7181,547,8872,354,4862,326,634Guarantee obligationsRental agreement - Industriskellet 7 ApS276,228271,156Bank - Industriskellet 7 ApS359,0910Other contingent liabilitiesThe Danish 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 Viking Footwear A/S, which is the management company of the joint taxation purposes. Moreover, the Danish 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 obligationsThe company's other financial obligations are not material to the financial reporting. Consolidated Financial StatementsThe Company is included in the Group Annual Report of the Parent Company of the largest and smallest group:Bertel O. Steen Holding ASLørenskog, Norway The Annual Report of Selmatec A/S for 2025 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 accounting policies applied remain unchanged from last year.The Financial Statements for 2025 are presented in DKK. 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. All leases are considered operating leases. Payments made under operating leases are recognised in the income statement on a straight-line basis over the lease term. Translation policiesTransactions 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. 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.Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales. Cost of goods soldCost of goods sold comprise the purchase price etc. for goods sold in the year. Other external expensesOther external expenses comprise expenses for premises, sales as well as office expenses, etc. Gross profitWith reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue, other operating income, cost of goods sold and other external expenses. Staff costs include wages and salaries including compensated absence and pensions as well as other social security contributions etc. made to the entity's employees. Amortisation, depreciation and impairment lossesAmortisation, depreciation 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 property, plant and equipment. 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 Viking Footwear A/S. The tax effect of the joint taxation is allocated to enterprises in proportion to their taxable incomes. Property, 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 equipment5 years The residual values are estimated at the following percentage of the cost: Impairment of fixed assetsThe carrying amounts of property, plant and equipment and investments are reviewed 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. Other fixed asset investments consist of deposit. InventoriesInventories are measured at the lower of cost under the FIFO method and net realisable value.The net realisable value of inventories is calculated at the amount expected to be generated by sale of the inventories in the process of normal operations with deduction of selling expenses and costs of completion. The net realisable value is determined allowing for marketability, obsolescence and development in expected selling price.The cost of raw materials and consumables equals landed cost. 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. Deferred incomeDeferred income comprises payments received in respect of income in subsequent years.