10104106 2024-07-01 2025-12-31 10104106 2024-07-01 2025-12-31 1 10104106 2024-07-01 2025-12-31 1 10104106 2024-07-01 2025-12-31 2 10104106 2024-07-01 2025-12-31 1 10104106 2024-07-01 2025-12-31 2 10104106 2024-07-01 2025-12-31 3 10104106 2023-07-01 2024-06-30 10104106 2025-12-31 10104106 2024-06-30 10104106 2024-07-01 d:ContributedCapitalMember 10104106 2024-07-01 d:ReserveForDevelopmentExpenditureMember 10104106 2024-07-01 d:ReserveForCurrentValueAdjustmentsOfCurrencyGainsMember 10104106 2024-07-01 d:RetainedEarningsMember 10104106 2024-07-01 d:ProposedDividendRecognisedInEquityMember 10104106 2024-07-01 2025-12-31 d:ReserveForDevelopmentExpenditureMember 10104106 2024-07-01 2025-12-31 d:RetainedEarningsMember 10104106 2024-07-01 2025-12-31 d:ReserveForCurrentValueAdjustmentsOfCurrencyGainsMember 10104106 2024-07-01 2025-12-31 d:ProposedDividendRecognisedInEquityMember 10104106 2024-07-01 2025-12-31 d:ContributedCapitalMember 10104106 2025-12-31 d:ContributedCapitalMember 10104106 2025-12-31 d:ReserveForDevelopmentExpenditureMember 10104106 2025-12-31 d:ReserveForCurrentValueAdjustmentsOfCurrencyGainsMember 10104106 2025-12-31 d:RetainedEarningsMember 10104106 2025-12-31 d:ProposedDividendRecognisedInEquityMember 10104106 2024-07-01 d:CompletedDevelopmentProjectsMember 10104106 2024-07-01 d:AcquiredIntangibleAssetsMember 10104106 2024-07-01 d:DevelopmentProjectsInProgressMember 10104106 2024-07-01 2025-12-31 d:CompletedDevelopmentProjectsMember 10104106 2024-07-01 2025-12-31 d:AcquiredIntangibleAssetsMember 10104106 2024-07-01 2025-12-31 d:DevelopmentProjectsInProgressMember 10104106 2025-12-31 d:CompletedDevelopmentProjectsMember 10104106 2025-12-31 d:AcquiredIntangibleAssetsMember 10104106 2025-12-31 d:DevelopmentProjectsInProgressMember 10104106 2024-07-01 d:FixturesFittingsToolsAndEquipmentMember 10104106 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 10104106 2024-07-01 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 10104106 2024-07-01 d:InvestmentsInGroupEnterprisesMember 10104106 2025-12-31 d:InvestmentsInGroupEnterprisesMember 10104106 2024-07-01 2025-12-31 d:SubsidiaryMember 1 10104106 2025-12-31 d:SubsidiaryMember 1 10104106 2024-07-01 2025-12-31 d:SubsidiaryMember 2 10104106 2025-12-31 d:SubsidiaryMember 2 10104106 2024-07-01 2025-12-31 d:SubsidiaryMember 3 10104106 2025-12-31 d:SubsidiaryMember 3 10104106 2024-07-01 2025-12-31 d:SubsidiaryMember 4 10104106 2025-12-31 d:SubsidiaryMember 4 10104106 2024-07-01 2025-12-31 d:SubsidiaryMember 5 10104106 2025-12-31 d:SubsidiaryMember 5 10104106 2024-07-01 2025-12-31 d:SubsidiaryMember 6 10104106 2025-12-31 d:SubsidiaryMember 6 10104106 2024-07-01 2025-12-31 d:SubsidiaryMember 7 10104106 2025-12-31 d:SubsidiaryMember 7 10104106 2024-07-01 2025-12-31 d:SubsidiaryMember 8 10104106 2025-12-31 d:SubsidiaryMember 8 iso4217:EUR xbrli:pure Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Værkmestergade 25 Postboks 330, 8100 Aarhus C 2024-07-01 2025-12-31 2023-07-01 2024-06-30 10104106 Nextway Software A/S Birk Centerpark 40 7400 Herning 1985-12-14 Herning EY Godkendt Revisionspartnerselskab 30700228 Værkmestergade 25 8100 Aarhus C Danmark +45 73 23 30 00 2026-06-29 Thomas Hougaard-Enevoldsen Regnskabsklasse B Revisionspåtegning Grundlag for konklusion Konklusion true 2026-06-29 2026-06-29 CaseWare Working Papers Today, the Board of Directors and the Executive Board have discussed and approved the annual report of Nextway Software A/S for the financial year 1 July 2024 - 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 of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 July 2024 - 31 December 2025. Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. Herning Kim Hellum Thomas Hougaard-Enevoldsen Jonas Gunnar Emanuel Bäckman Chairman Lars Erik Rüger Jepsen Wessel Geoff Ploegmakers To the shareholder of Nextway Software A/S We have audited the financial statements of Nextway Software A/S for the financial year 1 July 2024 - 31 December 2025, which comprise income statement, balance sheet, statement of changes in equity and notes, including 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 July 2024 - 31 December 2025 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and the 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.IndependenceWe 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 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 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 the 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 the 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. 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. Aarhus Steffen Michael Bach State Authorised Public Accountant mne45892 The Nextway Group helps companies harvest the benefits of digitalization by replacing processes involving paper, pdf’s, spreadsheets, and emails with business relevant easy-to-use software. Our mission is to make companies more efficient, and people’s lives at work easier. To many of our customers we deliver, maintain and support business critical software.Our standard products are based on our own software platform Next®, which has a proven performance record in companies throughout the world and in almost any line of business.Headquartered in Denmark and with own staffed offices in Switzerland, Germany, Denmark, and Finland, supplemented by staff in Norway and in Austria, we are operating as an international company, serving European customers on a local and global scale. Our set-up enables us to engage with most of our customers with local staff backed by international specialists. As part of the financial statements for the year, the Nextway Software A/S has capitalized development costs related to internal projects. The recognition and continued valuation of these assets are based on expectations regarding the future commercial viability of the developed solutions. Management performs regular impairment tests and believes the carrying amounts are justified. However, these are subject to estimation uncertainty. The income statement for 2024/25 shows a loss of EUR 249,145 against a loss of EUR 304,302 last year, and the balance sheet at 31 December 2025 shows equity of EUR 1,666,315. The loss for the year is according to expectations.In July 2024 the ownership in Nextway Software A/S changed. Main Foundation II Coöperatief U.A. entered as new majority owner.Following the sale of the Group to Main Foundation II Coöperatief U.A. in July 2024, the financial year has been extended to align with the Group’s financial year. Consequently, the current financial year comprises an 18-month period, whereas the comparative period comprises 12 months.Change in accounting policyThe company has changed accounting policy for investments in subsidiaries during the year by changing from equity value method to cost method.Income in subsidiaries are with the new policy not recognized in the income statement, while dividends from the subsidiaries are recognized in the income statement. The comparative figures have been adjusted in accordance with the new practice.We refer to the description under accounting policies, which includes a description of the impact of theannual report on the change in policy. Nextway is continuously investing in our primary intangible asset – Next. This development is done with own resources and with addition of external parties when required. We believe that developing new products, modules and features is the key to reaching our strategic goals and staying relevant to existing and future customers. No events materially affecting the Company's financial position have occurred subsequent to the financial year-end. -527937 862983 308045 518687 1087715 639899 -1923697 -295603 1200000 0 166398 31535 100511 126040 -657810 -390108 -408665 -85806 -249145 -304302 0 300000 1000000 0 -1249145 -604302 2238972 1372864 76237 17763 149555 510389 2464764 1901016 232 3204 232 3204 4877176 4877176 448 0 4877624 4877176 7342620 6781396 530965 1314297 70868 143009 178938 415155 178771 138226 959542 2010687 0 266424 959542 2277111 8302162 9058507 148829 148829 1863051 1468941 1847 0 -347412 2031560 0 300000 1666315 3949330 0 337861 0 337861 59418 8097 170203 266438 6384691 4409389 21535 87392 6635847 4771316 8302162 9058507 148829 1468941 0 1292933 300000 0 738627 0 0 -249145 0 0 -1847 -2052 0 1434721 -1434721 1067739 -1067739 -27128 27128 957337 0 300000 1000000 0 219568 148829 1863051 1847 -347412 0 The annual report of Nextway Software A/S for 2024/25 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. Following the sale of the Group to Main Foundation II Coöperatief U.A. in July 2024, the financial year has been extended to align with the Group’s financial year. Consequently, the current financial year comprises an 18-month period, whereas the comparative period comprises 12 months. Pursuant to section 15(3) of the Danish Financial Statements Act, the Company has changed its financial year, resulting in an extended accounting period. Pursuant to section 110(1) of the Danish Financial Statements Act, the Company has not prepared consolidated financial statements. The accounting policies applied have, compared to the previous financial year, been changed in the following area: Investments in subsidiaries are hereinafter measured at cost in the Company’s annual financial statements. Under the cost method, dividends received from investments in subsidiaries are recognized in the Company’s income statement when the right to receive such dividends is established. Previously, these investments were measured using the equity method. The reason for the change in the accounting policies is to align the accounting policy to the accounting policy for the new parent company, Main Foundation II Coöperatief U.A. The accumulated effect of the change in accounting policy is recognised directly in equity at the beginning of the year in the comparative figures. The monetary effect of the change is a decrease in the profit before tax for the year by EUR ('000) 963 (2023/2024: 739), the balance sheet total is decreased by EUR ('000) 963 (2023/24: 739) and the equity is decreased by EUR ('000) 963 (2023/24: 739). The change in policy has no effect on either current taxes or deferred taxes, and therefore the profit after tax is decreased by EUR ('000) 963 (2023/24: 739).The accounting policies used in the preparation of the financial statements are otherwise consistent with those of last year. Comparative figures have been restated to reflect the policy changes. Reporting currencyThe financial statements are presented in euros (EUR), as the Company's most significant transactions are settled in EUR. 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.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. The Company has chosen IFRS 15 as interpretation for revenue recognition.Income from the rendering of services is recognised as revenue as the services are rendered. Accordingly, revenue corresponds to the market value of the services rendered during the year (percentage-of-completion method).Licence income is recognised over the term of the agreement in accordance with the contents of the agreement.Revenue from time limited software licences is accrued and recognised on a straight line basis over the term of the licence according to the terms of the licence agreement.Sale of indefinite software licences is recognised as sale of goods whereby revenue is recognised when the most significant rewards and risks have been transferred to the buyer and provided the income can be measured reliably and payment is expected to be received.Income from the provision of services as consultancy hours is recognised as revenue as the services are provided. Accordingly, revenue corresponds to the selling price of services performed during the year (percentage of completion method).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.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. The items revenue, work performed for own account and capitalised, other operating income and external expenses have been aggregated into one item in the income statement called gross profit/loss in accordance with section 32 of the Danish Financial Statements Act. Other operating income comprise items secondary to the principal activities of the Company, including rental income from the temporary lease out of production facilities, compensation, government grants, refund of wages and salaries, gains on the disposal of intangible assets and property, plant and equipment, etc. Compensation and grants are recognised when there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received. Work performed on own account and risk and recognised as assets includes staff costs regarding work performed in the financial year in relation to the construction of one or more assets recognised in the balance sheet. Cost of sales includes the cost of goods used in generating the year's revenue. Other external expenses include the year's expenses relating to the Company's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc. Staff costs comprise wages and salaries, including holiday allowance and pensions, and other social security costs, etc., for the Company's employees. The item comprises amortisation/depreciation of intangible assets and plant and equipment.The cost net of the expected residual value for completed development projects and acquired IP rights is amortised over the expected useful life. Acquired IP rights include patents, rights and licences.The basis of amortisation/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 useful lives of the assets are as follows:Completed development projects 5-10 years Acquired intangible assets 3-5 years Other fixtures and fittings, tools and equipment 3-5 yearsLeasehold improvements 5 years Depreciation is based on the residual value of the asset and is reduced by impairment losses, if any. The depreciation period and the residual value are determined at the acquisition date and are reassessed annually. Where the residual value exceeds the carrying amount of the asset, no further depreciation charges are recognised.In the 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. The residual value is expected to be 0 EUR. The item includes dividend received from group entities in so far as the dividend does not exceed the accumulated earnings in the group entity in the period of ownership. Financial income and expenses are recognised in the income statements at the amounts that concern the financial year. Net financials include interest income and expenses as well as allowances and surcharges under the advance-payment-of-tax scheme, etc. 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.The Company and its Danish group entities are jointly taxed. The total Danish income tax charge is allocated between profit/loss-making Danish entities in proportion to their taxable income (full absorption).Jointly taxed entities entitled to a tax refund are reimbursed by the management company based on the rates applicable to interest allowances, and jointly taxed entities which have paid too little tax pay a surcharge according to the rates applicable to interest surcharges to the management company. Development costs comprise expenses, salaries and amortisation directly or indirectly attributable to development activities.Development projects that are clearly defined and identifiable, where the technical feasibility, sufficient resources and a potential future market or development opportunities areidentifiable and where the Company intends to produce, market or use the project, are recognised as intangible assets provided that the cost can be measured reliably and that there is sufficient assurance that future earnings can cover production costs, selling costs and administrative expenses and development costs. Other development costs are recognised in the income statement as incurred.Development costs that are recognised in the balance sheet are measured at cost less accumulated amortisation and impairment losses.On completion of a development project, development costs are amortised on a straight-line basis over the estimated useful life. The amortisation period is usually 5 years.Acquired intangible assets include software and trademarks, which are measured at cost less accumulated amortisation and impairment losses. Software is amortised over 3-5 years, whereas trademarks are not amortised.Gains and losses on the sale of intangible assets are recognised in the income statement under "Other operating income" or "Other operating expenses", respectively. Gains and losses are calculated as the difference between the selling price less selling expenses and the carrying amount at the time of sale. Property, plant and equipmentItems of equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes the acquisition price and costs directly related to the acquisition until the time at which the asset is ready for use.Gains or losses are calculated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses from the disposal of property, plant and equipment are recognised in the income statement as other operating income or other operating expenses. The Company has chosen IAS 17 as interpretation for classification and recognition of leases.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". Investments in group entities and associates are measured at cost. Dividends received that exceed the accumulated earnings in the group entity or the associate during the period of ownership are treated as a reduction in the cost of acquisition.Gains and losses on disposal of group entities and associates are made up as the difference between the sales price and the carrying amount of net assets at the date of disposal including non-amortised goodwill and anticipated costs of disposal. Gains or losses are recognised in the income statement as financial income or financial expenses. The carrying amount of intangible assets and equipment and investments in group entities is assessed for impairment on an annual basis.Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount). The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life.Previously recognised impairment losses are reversed when the reason for recognition no longer exists. The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables.Receivables are measured at amortised cost.An impairment loss is recognised if there is objective evidence that a receivable is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis.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 for the individual receivable or portfolio is used as discount rate. Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years. Cash comprise cash and short term securities which are readily convertible into cash and subject only to minor risks of changes in value. Reserve for development costsThe reserve for development costs comprises recognised development costs. The reserve cannot be used to distribute dividend or cover losses. The reserve will be reduced or dissolved if the recognised development costs are amortised or are no longer part of the Company's operations by a transfer directly to the distributable reserves under equity.Translation reserveThe translation reserve comprises the share of foreign exchange differences arising on translation of financial statements of entities that have a functional currency other than DKK, foreign exchange adjustments of assets and liabilities considered part of the Company's net investments in such entities and foreign exchange adjustments regarding hedging transactions that hedge the Company's net investments in such entities. The reserve is dissolved on the sale of foreign entities or if the conditions for effective hedging no longer exist. When equity investments in group entities and associates in the parent company financial statements are subject to the limitation requirement in the net revaluation reserve according to the equity method, foreign exchange adjustments will be included in this equity reserve instead.Proposed dividendsDividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". 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.Deferred tax is measured according to the liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is not deductible for tax purposes and on office premises and other items where temporary differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for the year or taxable income. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on Management's intended use of the asset or settlement of the liability, respectively.Deferred 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. Deferred tax assets are recognised at the expected value of their utilisation; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Changes in deferred tax due to changes in the tax rate are recognised in the income statement. The Company has chosen IAS 39 as interpretation for liabilities.Financial liabilities are recognised at the date of borrowing at the net proceeds received less transaction costs paid. On subsequent recognition, financial liabilities are measured at amortised cost, corresponding to the capitalised 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.Other liabilities are measured at net realisable value. Deferred incomeDeferred income recognised as a liability comprises payments received concerning income in subsequent financial reporting years. 304558 437100 1517 79670 1970 1917 308045 518687 1 2 62420 30619 103978 916 12760 111873 87751 14167 -70873 -79924 -337792 -5882 4766363 260338 510389 -6918 -310 -607 989540 74050 586976 141795 0 0 947203 0 -947203 6554393 334078 149555 3393499 242575 0 -4022 -289 0 1067739 15555 0 141795 0 0 4315421 257841 0 2238972 76237 149555 Completed development projects and development projects in progress The company continuously recognizes development costs for a number of individual development projects. The development projects are initiated after an assessment phase and based on both the company's own and the customers' identified needs for new products and functionalities in the company's software, etc. In connection with the initiation of a development project, a business plan is prepared and there is an ongoing assessment of whether this business plan is complied with and followed. This assessment including impairment test has been performed for all completed development projects. The recognized costs consist partly of hours incurred within the Group and partly of external costs incurred. All development projects are individually assessed to see whether they meet the criteria for recognition set out in the Danish Financial Statements Act Section 83 and IAS 38 as interpretation. Customer characteristics and product evaluation are both part of each business plan/product in aim to cover the representative market needs for our products and to meet the criteria for recognition set out in the Danish Financial Statements Act Section 88 a. Ongoing development projects are expected to be finalized within the normal period. We have 5 development projects in progress as pr. 31 December 2025. The usual development period typically extends over 1-3 years depending on the individual project. The recognised costs consist partly of hours incurred within the Group and partly of external costs incurred. 14924 14924 11720 4 2968 14692 232 4877176 4877176 4877176 Nextway Software Denmark A/S Herning, Denmark 100.00 580115 336569 Nextway Software Finland OY Helsinki, Finland 100.00 790336 86162 Nextway Software Norway AS Oslo, Norway 100.00 734336 85506 Nextway Software Sweden AB Malmø, Sweden 100.00 168027 21060 Nextway Software UK Ltd Cranfield, United Kingdom 100.00 35025 2490 Nextway Software Switzerland GmbH Buchs, Switzerland 100.00 974393 161143 Nextway Software Austria GmbH Rankweil, Austria 100.00 -181893 -6018 Nextway Germany GmbH Hamburg, Germany 100.00 99749 119894 Information regarding the international subsidiaries' equity and results is based on the latests submitted financial statements. Whereas the domestic subsidiaries' are as of 31 December 2025. Other contingent liabilities The Company is jointly taxed with its parent, Nextway Holding ApS, which acts as management company, and is jointly and severally liable with other jointly taxed group entities for payment of income taxes for the income year 2025 onwards. The Company has liabilities under IT equipment and software, totalling EUR 172 thousand with remaining contract terms up to 24 months. As security for bank debt of EUR 59 thousand, a business charge of EUR 536 thousand has been granted over the Company’s assets, which had a total carrying amount as at 31 December 2025 of EUR 76 thousand. Information about consolidated financial statements ParentDomicileRequisitioning of the parent company's consolidated financial statements Nextway Holding ApSHerning, DenmarkThe Danish Business Authorities