37894036 2025-01-01 2025-12-31 37894036 2025-01-01 2025-12-31 memberOfBoardIdentifier_executive_board_1 37894036 2025-01-01 2025-12-31 memberOfBoardIdentifier_executive_board_2 37894036 2025-01-01 2025-12-31 memberOfBoardIdentifier_executive_board_3 37894036 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_1 37894036 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_2 37894036 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_3 37894036 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_4 37894036 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_5 37894036 2025-01-01 2025-12-31 1 37894036 2024-01-01 2024-12-31 37894036 2025-12-31 37894036 2024-12-31 37894036 2025-01-01 fsa:ContributedCapitalMember 37894036 2025-01-01 fsa:ReserveForDevelopmentExpenditureMember 37894036 2025-01-01 fsa:RetainedEarningsMember 37894036 2025-01-01 37894036 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 37894036 2025-01-01 2025-12-31 fsa:ReserveForDevelopmentExpenditureMember 37894036 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 37894036 2025-12-31 fsa:ContributedCapitalMember 37894036 2025-12-31 fsa:ReserveForDevelopmentExpenditureMember 37894036 2025-12-31 fsa:RetainedEarningsMember 37894036 2025-01-01 fsa:CompletedDevelopmentProjectsMember 37894036 2025-01-01 2025-12-31 fsa:CompletedDevelopmentProjectsMember 37894036 2025-12-31 fsa:CompletedDevelopmentProjectsMember 37894036 2025-01-01 fsa:PlantAndMachineryMember 37894036 2025-01-01 fsa:LeaseholdImprovementsMember 37894036 2025-01-01 fsa:PropertyPlantAndEquipmentInProgressMember 37894036 2025-01-01 2025-12-31 fsa:PlantAndMachineryMember 37894036 2025-01-01 2025-12-31 fsa:LeaseholdImprovementsMember 37894036 2025-01-01 2025-12-31 fsa:PropertyPlantAndEquipmentInProgressMember 37894036 2025-12-31 fsa:PlantAndMachineryMember 37894036 2025-12-31 fsa:LeaseholdImprovementsMember 37894036 2025-12-31 fsa:PropertyPlantAndEquipmentInProgressMember 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 1 1 true 2026-07-10 Marcel Lubben The Executive Board and Board of Directors have today considered and adopted the Annual Report of Kaffe Bueno ApS 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. In our opinion, Management's Review includes a true and fair account of the matters addressed in the Review. We recommend that the Annual Report be adopted at the Annual General Meeting. Rødovre 2026-07-09 Thomas Thomasen Durhuus Alejandro Franco Sanchez Camilo Jose Fernandez Schembri Marcel Lubben Camilo Jose Fernandez Schembri Thomas Thomasen Durhuus Chairman Marika King Martin Lersch To the shareholders of Kaffe Bueno ApS Opinion We have performed an extended review of the Financial Statements of Kaffe Bueno ApS 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. We draw attention to Note 1. The company incurred a net loss of TDKK 21,806 during the year ended 31 December 2025 and the company's liquidity position as of this day is weak. These events as well as the uncertainties associated with the conditions stated in Note 1 indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter 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. Management is responsible for Management’s Review.Our opinion on the Financial Statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon.In connection with our extended review of the Financial Statements, our responsibility is to read Management’s Review and, in doing so, consider whether 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. Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, in our view, Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Management’s Review. Non-compliance with the Danish accounting legislationContrary to section 12 of the Danish Bookkeeping Act, the Company has not kept its accounting records for previous years; consequently, Management may incur liability. Hellerup 2026-07-09 PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab 33771231 Christopher Kowalczyk State Authorised Public Accountant mne47863 Kaffe Bueno ApS Islevdalvej 211, tv 2610 Rødovre 71460021 camilo@kaffebueno.com 37894036 Rødovre Strandvejen 44 2900 Hellerup Key activitiesThe Company’s main business activity is to upcycle coffee by products to produce health promoting ingredients for the personal care, human nutrition, animal nutrition, advanced biomaterials and agriculture. The Company does this using biotech, green chemistry, and nanotech, to break down and valorise coffee and sell these ingredients B2B.Development in the yearThe income statement of the Company for 2025 shows a loss of DKK 21,805,669, and at 31 December 2025 the balance sheet of the Company shows an equity of DKK 12,663,307.For mention of the Company's capital resources, please refer to Note 1 to the Financial Statements.Subsequent eventsNo events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. -7144074 5050647 9729898 8293603 1813985 1109768 -18687957 -4352724 163974 56211 189873 452797 -18713856 -4749310 3091813 -882555 -21805669 -3866755 0 1302236 -21805669 -5168991 2694769 2559554 2694769 2559554 11746911 13153965 1522634 913181 2548506 190354 15818051 14257500 178200 168200 178200 168200 18691020 16985254 272117 498086 272117 498086 202692 183783 1029755 736677 0 3775629 43938 243380 1276385 4939469 1368837 20610628 2917339 26048183 21608359 43033437 96249 96249 2101920 1996452 10465138 32376275 12663307 34468976 1448483 2273483 1448483 2273483 937442 1237444 20287 120787 236949 36514 6301891 4896233 7496569 6290978 8945052 8564461 21608359 43033437 96249 1996452 32376275 34468976 0 349007 -349007 0 0 243539 -243539 0 0 0 -21805669 -21805669 96249 2101920 10465138 12663307 The company incurred a net loss of TDKK 21,806 during the year ended 31 December 2025 and the company's liquidity position as of this day is weak. These events as well as the uncertainties associated with the conditionsstated below indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern.Management works continuously to improve and optimise the company's operations and financial performance. Management expects the company to achieve the budget prepared for 2026, which includes a strategic focus on cost reduction during the financial year.The company's liquidity position depends on agreed and anticipated adjustments to payment terms with key creditors, as well as the successful completion of an investment round expected in Q4 2026, for which several investors have already expressed interest. The timing and successful completion of this financing remain key uncertainties.On this basis, Management considers the company's capital resources to be adequate and believes that the company will be able to settle and meet its obligations as they fall due, up to and including 31 December 2026. 9002603 7639510 237206 223740 66825 147677 423264 282676 9729898 8293603 19 16 3775629 -370102 -683816 -512453 3091813 -882555 2906084 447445 3353529 346530 312230 658760 2694769 10 years 14067351 913181 190354 0 688313 2373994 15842 0 -15842 14083193 1601494 2548506 913386 0 0 1422896 78860 0 2336282 78860 0 11746911 1522634 2548506 10 years10 years There are no security and contingent liabilities at 31 December 2025.Moreover the company has no other financial obligations at 31 December 2025. The Annual Report of Kaffe Bueno ApS 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. 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.Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales. Change in inventories of finished goods, work in progress and goods for resaleThe item includes the year's reduction or increase in stocks of finished goods, work in progress and merchandise. Other external expensesOther external expenses comprise indirect production costs and expenses for premises, sales as well as office expenses, etc. Gross profit/lossWith reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue, change in inventories of finished goods, work in progress and goods for resale, other operating income, expenses for raw materials and consumables 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. Intangible fixed assetsDevelopment costs and costs relating to rights developed by the Company are recognised in the income statement as costs in the year of acquisition. 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. In the case of assets of own construction, cost comprises direct and indirect expenses for labour, materials, components and sub-suppliers.Interest expenses on loans contracted directly for financing the construction of property, plant and equipment are recognised in cost over the construction period.Plant and machinery10 years The fixed assets’ residual values are determined at nil.Depreciation period and residual value are reassessed annually. Impairment of fixed assetsThe carrying amounts of intangible assets and 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 amortisation and 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. Loans are recognised initially at the proceeds received net of transaction expenses incurred. Subsequently, the loans are measured at amortised cost; the difference between the proceeds and the nominal value is recognised as an interest expense in the income statement over the loan period.Mortgage loans are measured at amortised cost, which for cash loans corresponds to the remaining loan. Amortised cost of debenture loans corresponds to the remaining loan calculated as the underlying cash value of the loan at the date of raising the loan adjusted for depreciation of the price adjustment of the loan made over the term of the loan at the date of raising the loan.Other debts are measured at amortised cost, substantially corresponding to nominal value. Deferred incomeDeferred income comprises payments received in respect of income in subsequent years.