18215233 2024-01-01 2024-12-31 18215233 2024-01-01 2024-12-31 0 18215233 2024-01-01 2024-12-31 0 18215233 2024-01-01 2024-12-31 1 18215233 2024-01-01 2024-12-31 2 18215233 2023-01-01 2023-12-31 18215233 2024-12-31 18215233 2023-12-31 18215233 2024-01-01 fsa:ContributedCapitalMember 18215233 2024-01-01 fsa:RetainedEarningsMember 18215233 2024-01-01 18215233 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 18215233 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 18215233 2024-12-31 fsa:ContributedCapitalMember 18215233 2024-12-31 fsa:RetainedEarningsMember 18215233 2024-01-01 fsa:LandAndBuildingsMember 18215233 2024-01-01 fsa:PlantAndMachineryMember 18215233 2024-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 18215233 2024-01-01 2024-12-31 fsa:LandAndBuildingsMember 18215233 2024-01-01 2024-12-31 fsa:PlantAndMachineryMember 18215233 2024-01-01 2024-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 18215233 2024-12-31 fsa:LandAndBuildingsMember 18215233 2024-12-31 fsa:PlantAndMachineryMember 18215233 2024-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 18215233 2024-01-01 2024-12-31 0 iso4217:DKK xbrli:pure Regnskabsklasse B COMET Technologies Denmark A/S 2630 Taastrup Helgeshøj Alle 38, 2 2025-06-23 Hans Christian Rysgaard 18215233 Høje Taastrup 2024-01-01 2024-12-31 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement by the Board of Directors and the Executive Board</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Today, the Board of Directors and the Executive Board have discussed and approved the annual report of COMET Technologies Denmark A/S for the financial year 1 January - 31 December 2024.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The annual report is prepared in accordance with the Danish Financial Statement Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the financial statement gives a true and fair view of the financial position of the Company at 31 December 2024 and of the result of the Company's operations for the financial year 1 January -31 December 2024.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the annual report is approved at the annual meeting.</td></tr></table> Taastrup 2025-06-23 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent auditor's report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the shareholders of COMET Technologies Denmark A/S</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Conslusion</td></tr><tr><td colspan="1">We have performed an extended review of the financial statemtns of COMET Technologies Denmark A/S for the financial year 1 Janauary - 31 December 2024, which comprise income statement, balance sheet, statement of changes in equity and notes, including policies. The financial statements are prepared in accordance with the Danish Financial Statements act.</td></tr><tr><td colspan="1">Based on the work performed, in our opinion, the financial statements give a true and fair view of the Comapny's financial postition at 31 December 2024 and the result of the Company's operations, for the financial year 31 December 2024 in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for conslusion</td></tr><tr><td colspan="1">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 "Auditor's responsibilities for the extended review of the financial statements" section of our report. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">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.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management's responsibilities for the financial statements</td></tr><tr><td colspan="1">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.</td></tr><tr><td colspan="1">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.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Auditor's responsibilities for the extended review of the financial statements</td></tr><tr><td colspan="1">Our responsiblility is to express a conclusion on the financial statements. This require that we plan and perfrom procedures In order to obtain limited assurance for our conclusion on the financial statements and in addition perform specifically required supplementary procedures to obtain further assurance for our conclusion.</td></tr><tr><td colspan="1">An extended review comprises procedures that primarily consist of making Inquiries of Management and others within the Company, as appropriate, analytical procedures and the specifically required supplementary procedures as well as evaluation of the evidence obtained.</td></tr><tr><td colspan="1">The procedures performed In an extended review are less than those performed in an audit, and accordingly, we do not express an audit opinion on the financial statements.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on the Management's review</td></tr><tr><td colspan="1">Management is responsible for the Management's review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our extended review 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 extended review, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">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.</td></tr></table> Copenhagen 2025-06-23 26476000 27126000 -428000 -1078000 54000 636000 -1660000 -372000 -1288000 -1288000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Accounting policies</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The annual report of COMET Technologies Denmark A/S for 2024 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to reporting class B entities and elective choice of certain provisions applying to reporting class C entities.</td></tr></table> true <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In accordance with the Danish Business Authority's clarification in May 2021, financial statement items regarding equity investments in associates have been renamed to equity investments in participating interests as the financial statement items must be designated as such when the entity only holds equity investments in associates.</td></tr><tr><td colspan="1">Reporting currency</td></tr><tr><td colspan="1">The financial statements are presented in Danish kroner (DKK'000)</td></tr><tr><td colspan="1">Foreign currency transaction</td></tr><tr><td colspan="1">On initial recognition, transactions denominated in foreign currencies are translated at the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial Income or financial expenses.</td></tr><tr><td colspan="1">Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rate at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the most recent financial statements is recognised in the income statement as financial income or financial expenses.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Income statement</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Revenue</td></tr><tr><td colspan="1">The Company has chosen IAS 18 as interpretation for revenue recognition</td></tr><tr><td colspan="1">Income from sale of goods for resale and finished goods is recognised in revenue when transfer of the most significant rewards and risks to the buyer has taken place and provided that the Income can be reliably measured and payment is expected to be received. The date of the transfer of the most significant rewards and risks is based on standardised terms of based on Incoterms*2010.</td></tr><tr><td colspan="1">Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in revenue.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Gross profit</td></tr><tr><td colspan="1">The items revenue, cost of sales, change in inventories of finished goods and work in progress and external expenses have been aggregated into one item in the income statement called gross profit in accordance with section 32 of the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Other operating income</td></tr><tr><td colspan="1">Other operating income comprise items of secondary nature relative to the Company's core activities, Including gains of the sale of fixed assets.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Cost of sales</td></tr><tr><td colspan="1">Cost of sales Includes the cost of goods used in generating the year's revenue.</td></tr><tr><td colspan="1">Other external expenses</td></tr><tr><td colspan="1">Other external expenses include the year's expenses relating to the Comapny's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc.</td></tr><tr><td colspan="1">Staff costs</td></tr><tr><td colspan="1">Staff costs include wages and salaries, including compensated absence and pensions, as well as other social security contributions, etc. made to the Company's employees. The item is net of refunds made by public authorities</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Depreciation</td></tr><tr><td colspan="2">The item comprises depreciation of property, plant and equipment.</td></tr><tr><td colspan="2">The basis of amotisation/depreciation, which is calculated as cost less any residual value, is amortised/depreciated on a straight line basis over the expected useful life. The expected usefull lived of the asstes are as follows</td></tr><tr><td>Acquired intangible assets</td><td>3 years</td></tr><tr><td>Plant and machinery</td><td>3-10 years</td></tr><tr><td>Other fixtures and fittings, tools and equipment</td><td>3-10 years</td></tr><tr><td colspan="2">Depreciation is based on the residual value of the assets and is reduced by impairment losses, if any. The depreciation period and the residual value are determined at the acquisition date and are reassessed anually. Where the residual value exceeds the carrying amount of the asset, no further depreciation charges are recognised.</td></tr><tr><td colspan="2">In the case of changes in the depreciation period of the residual calue, the effect of the depreciation charges is recognised prospectively as change in accounting estimates.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial income and expenses</td></tr><tr><td colspan="1">Financial expenses are recognised In the income statements at the amounts that concern the financial year. Net financials include interest expenses as well as foreign exchange differences.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial income and expenses</td></tr><tr><td colspan="1">Tax for the year includes current tax on the year's expected taxable income and the year's deferred tax adjustments. The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement, whereas the portion that relates to transactions taken to equity is recognised in equity.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Balance sheet</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Property, plant and equipment</td></tr><tr><td colspan="1">Items of property, plant and equipment are measured at cost less accumulated depreciation and Impairment losses. Cost includes the acquition price and costs directly related to the acquisition until the time at which the asset is ready for use.</td></tr><tr><td colspan="1">Gains or losses arising from the sale of items of property, plant and equipment are recognised in the Income statement under 'Other operating income' or 'Other operating expenses', respectively. Gains and losses are calculated by reference to the difference between the selling price less selling expenses and the carrying amount at the time of sale.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Leases</td></tr><tr><td colspan="1">The company has chosen IAS 17 as interpretation for classification and recognition of leases.</td></tr><tr><td colspan="1">Leases that do not transfer substantially all the risks and rewards incident to the ownership to the Company are classified as operating leases. Payments relating to operating leases and any other rent agreements are recognised in the income statement over the term of the lease. The Company's aggregate liabilities relating to operating leases and other rent agreements are disclosed under "Contingent liabilities"</td></tr><tr><td colspan="1">Impariment of fixed assets</td></tr><tr><td colspan="1">Every year, intangible assets and property, plant and equipment are reviewed for impairment. Where there is evidence of impariment, an impairment test is made for each individual asset or group of assets, respectivel, generating independent cash flows. The assets are written down to the higher of the value in use and the net selling price of the asset or group of assets (recoverable amount) if it is lower than the carrying amount. Where an impairment loss is recognised on a group of assets, a loss must first be allocated to goodwill and then to other assets on a pro rata basis.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Inventories</td></tr><tr><td colspan="1">Inventories are measured at cost in accordance with the FIFO method. Where the net realisable value is lower than cost, inventories are written down to this lower value. The net realisable value of inventories is calculated as the sales amount less costs of completion and expenses required to effect the sale and is dermined taking into account marketability, obsolescence and development in the expectied selling price.</td></tr><tr><td colspan="1">The cost of raw materials and consumables comprises the cost of acquisition plus delivery costs.</td></tr><tr><td colspan="1">The cost of finished goods and work in progress includes the cost of raw materials, consumables, direct labour and Indirect production overheads.</td></tr><tr><td colspan="1">Indirect production overheads include the indirect cost of material and labour as well as maintenance and depreciation of production machinery, buildings and equipment and expenses relating to plant administration and management. Borrowing costs are not recognised in the sales price.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Receivables</td></tr><tr><td colspan="1">The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables.</td></tr><tr><td colspan="1">Receivables are measured at amortised cost.</td></tr><tr><td colspan="1">An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual reveivable has been impaired, an impairment loss is recognised on an individual basis.</td></tr><tr><td colspan="1">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 debtors' domicile and redit ratings in line with the Company's risk management policy. The objective evidence applied to portfolios is dermined based on historical loss experience.</td></tr><tr><td colspan="1">Impariment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flow, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Prepayments</td></tr><tr><td colspan="1">Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Cash</td></tr><tr><td colspan="1">Cash comprise cash and bank deposits.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Provisions</td></tr><tr><td colspan="1">Provisions comprise anticipated expenses relating to warranty commitments, onerous contracts, restructurings, etc. Provisions are recognised when the Company has a legal or constructive obligation at the balance sheet date as a result of a past event and it is probable that a outflow of resources embodying economic benefits will be required to settle the obligation.</td></tr><tr><td colspan="1">Provisions are measured at net realisable value or at fair value if the obligation is expected to be settled far into the future.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Income taxes</td></tr><tr><td colspan="1">Current tax payables and receivables are recognised in the balance sheet as the estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account.</td></tr><tr><td colspan="1">Deferred tax is measured using the balance sheet liability method on all temporary differences between the carrying amount and the tax value of assets and liabilities.</td></tr><tr><td colspan="1">Deffered tax is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax and based on Management's intended use of the asset. Changes in deferred tax due to changes in the tax rate are recognised in the income statement.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Liabilities</td></tr><tr><td colspan="1">The Company has chosen IAS 39 as interpretation for liablilities.</td></tr><tr><td colspan="1">Financial liabilities are recognised at the date of borrowing at the net proceeds received less transaction cost pald. On subsequent recognition, financial liabilities are measured at amortised cost, corresponding to the capitallsed value, using the effective interest rate. Accordingly, the difference between the proceeds and the nominal value Is recognised in the income statement over the term of the loan. Financial liabilities also include the capitalised residual lease liability in respect of finance leases.</td></tr><tr><td colspan="1">Other liabilities are measured at net realisable value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Staff costs</td></tr></table> 25253000 1599000 274000 27126000 38 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Financial expenses</td></tr></table> 612000 22000 2000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Property, plant and equipment</td></tr></table> 51000 373000 52000 428000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Depreciated over</td><td /><td>3-1 years</td><td>3-1 years</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="26%" align="right" valign="middle" >5</td><td width="74%" colspan="1" align="left" valign="middle" >Non-current liabilities other than provision</td></tr><tr><td width="26%" ></td><td width="74%" colspan="1" align="left" valign="middle" >Of the long-term liabilities, DKK 0 thousand falls due for payment between 1-5 years after the balance sheet date.</td></tr><tr><td colspan="2"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="17%" align="right" valign="middle" >6</td><td width="83%" colspan="3" align="left" valign="middle" >Contractual obligations and contingencies, etc.</td></tr><tr><td width="17%" ></td><td width="83%" colspan="3" align="left" valign="middle" >Other financial obligations</td></tr><tr><td width="17%" ></td><td width="83%" colspan="3" align="left" valign="middle" >Other rent and lease liabilities</td></tr><tr><td width="17%" ></td><td width="48%" colspan="1" align="left" valign="middle" >DKK'000</td><td width="17%" align="right" valign="middle" >2024</td><td width="18%" align="right" valign="middle" >2023</td></tr><tr><td width="17%" ></td><td width="48%" colspan="1" align="left" valign="middle" >Rent and lease liabilities</td><td width="17%" align="right" valign="middle" >1053</td><td width="18%" align="right" valign="middle" >822</td></tr><tr><td colspan="4"></td></tr><tr><td width="17%" ></td><td width="83%" colspan="3" align="left" valign="middle" >Rent and lease liabilities include a rent obligation totalling DKK 1,053 thousand interminable rent agreement with 6 month notice</td></tr><tr><td colspan="4"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="26%" align="right" valign="middle" >7</td><td width="74%" colspan="1" align="left" valign="middle" >Security and collateral</td></tr><tr><td width="26%" ></td><td width="74%" colspan="1" align="left" valign="middle" >As security for the Company's rental of leasehold premises, the Company has issued a guarantee at a total amount of DKK 1,053 thousand to lessor.</td></tr><tr><td colspan="2"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="20%" align="right" valign="middle" >8</td><td width="80%" colspan="2" align="left" valign="middle" >Related parties</td></tr><tr><td width="20%" ></td><td width="80%" colspan="2" align="left" valign="middle" >Information afbout consolidated financial statements</td></tr><tr><td width="20%" ></td><td width="58%" colspan="1" align="left" valign="middle" >Parent</td><td width="22%" colspan="1" align="left" valign="middle" >Domicile</td></tr><tr><td width="20%" ></td><td width="58%" colspan="1" align="left" valign="middle" >Comet Holding AG</td><td width="22%" colspan="1" align="left" valign="middle" >Herrengasse 10 Flamatt</td></tr><tr><td width="20%" ></td><td width="58%" ></td><td width="22%" colspan="1" align="left" valign="middle" >Schwitzerland</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management's review</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Business review</td></tr><tr><td colspan="1">The Company develops, produces and sells X-ray equipment for industrial use in connection with Non-Destructive Testing (NDT). The Products comprise standard X-ray components, software and hardware purchased or developed by the Company.</td></tr><tr><td colspan="1">Parts of the sales on a global level are channeled through the other group companies in USA, Japan and China, whereoff other parts are handled through distributors or directly to customers.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial review</td></tr><tr><td colspan="1">The income statement for 2024 shows a loss of DKK -1,288 thousand against a profit of DKK 2,420 thousand last year, and the balance sheet at 31 December 2024 shows equity of DKK 7,900 thousand.</td></tr><tr><td colspan="1">Profit/loss for the year compared to previously announced expectations</td></tr><tr><td colspan="1">The loss of DKK -1,288 =- 4.86% of the Gross Profit on TDKK 26,476 which is worse than the expected 4-8%. The reason for this is mainly because to quality problems in production.</td></tr><tr><td colspan="1">The Company faced some challenges in the production and was therefore not able to realize a furter improvemen in 2024, like the one that was realized in 2023. The company was during 2024 impacted by the global financial situation and the ongoing conflict in Ukraine.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Events after the balance sheet date</td></tr><tr><td colspan="1">As of the date of the balance sheet and up to today no events have been recovered that changes the valuation of the annual report.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Outlook</td></tr><tr><td colspan="1">The Company are successfully developing and launching new products according to its business plan. It is expected that the launch of new products together with an expected increase in sale of existing products, will have a positive impact on the coming years revenue.</td></tr><tr><td colspan="1">The expected increase in revenue together with a general development of the company are expected to have a positive impact on the following year's financial result with a profit on 4-8% of the Gross Profit.</td></tr></table> Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M xWizard version 1.1.1379.0, by EasyX Aps. www.easyx.eu 2023-01-01 2023-12-31 Revisionspåtegning Grundlag for konklusion Konklusion Hans Christian Rysgaard Stephan Eirik Ligaard Haferl Nicola Rotondo Hans Christian Rysgaards 29375000 25565000 -489000 3321000 54000 1254000 2121000 -299000 2420000 2420000 23858000 1454000 253000 25565000 34 792000 460000 2000 1130000 341000 1471000 1471000 11065000 9356000 3170000 23591000 5027000 4337000 2198000 2038000 1155000 14755000 3182000 41528000 42999000 601000 7299000 7900000 221000 221000 1669000 1669000 224000 2367000 26064000 4554000 33209000 34878000 42999000 10521000 9051000 1196000 330000 1526000 1526000 13021000 8861000 2657000 24534000 2192000 2752000 1759000 747000 1123000 8573000 12363000 45470000 46996000 601000 8587000 9188000 128000 128000 1614000 1614000 0 4865000 28647000 2554000 36066000 37680000 46996000 601000 8587000 9188000 10097000 8571000 0 -1288000 601000 7299000 3975000 3975000 4230 3042000 1884000 1554000 0 0 0 0 0 -37000 213000 -36000 278000 88000 160000 0 88000 150000 3975000 3975000 0 4414000 3284000 1130000 2132000 1792000 341000 EY Godkendt Revisionspartnerselskab 30700228 Birgit Morville Schrøder State Authorised Public Accountant mne21337