42892459 2025-01-01 2025-12-31 42892459 2025-01-01 2025-12-31 memberOfBoardIdentifier_executive_board_1 42892459 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_1 42892459 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_2 42892459 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_3 42892459 2025-01-01 2025-12-31 1 42892459 2024-01-01 2024-12-31 42892459 2025-12-31 42892459 2024-12-31 42892459 2025-01-01 fsa:ContributedCapitalMember 42892459 2025-01-01 fsa:RetainedEarningsMember 42892459 2025-01-01 42892459 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 42892459 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 42892459 2025-12-31 fsa:ContributedCapitalMember 42892459 2025-12-31 fsa:RetainedEarningsMember 42892459 2025-01-01 fsa:InvestmentsInGroupEnterprisesMember 42892459 2024-01-01 fsa:InvestmentsInGroupEnterprisesMember 42892459 2025-12-31 fsa:InvestmentsInGroupEnterprisesMember 42892459 2024-12-31 fsa:InvestmentsInGroupEnterprisesMember 42892459 2025-01-01 2025-12-31 fsa:InvestmentsInGroupEnterprisesMember 42892459 2024-01-01 2024-12-31 fsa:InvestmentsInGroupEnterprisesMember 42892459 2025-01-01 2025-12-31 relatedEntityIdentifier_sub_1 fsa:SubsidiaryMember 42892459 2025-12-31 relatedEntityIdentifier_sub_1 fsa:SubsidiaryMember 42892459 2025-12-31 1 fsa:SubsidiaryMember iso4217:DKK pure xbrli:pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2025-01-01 2024-01-01 2025-12-31 2024-12-31 Regnskabsklasse B Revisionspåtegning true 2026-07-08 Lars Eegholm The Executive Board and Board of Directors have today considered and adopted the Annual Report of MATE.world 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. Copenhagen 2026-07-08 Lars Eegholm CEO Anders Karlskov Kaasgaard Per Ulrik Andersen Henning von Lillienskjold Chairman To the shareholders of MATE.world A/S Opinion 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.We have audited the Financial Statements of MATE.world 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”). Basis for Opinion 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 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 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 about 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 these 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 disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view.Plan and perform the audit to obtain sufficient appropriate audit evidence regarding the consolidated financial information of the entities or business units as a basis for forming an opinion on the Financial Statements. We are responsible for the direction, supervision and review of the audit work performed. We remain solely responsible for our audit opinion.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. Hellerup 2026-07-08 PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab 33771231 René Otto Poulsen State Authorised Public Accountant mne26718 MATE.world A/S Gråbrødretorv, 11,1 1154 København K 42892459 Copenhagen Strandvejen 44 2900 Hellerup -22614 -130211 408172 750724 4355 4640 4705 4824 385208 620329 0 -723094 385208 1343423 385208 1343423 15585194 15177022 15585194 15177022 15585194 15177022 159989 143813 0 3631 159989 147444 33021 107206 193010 254650 15778204 15431672 400000 400000 15230278 10281150 15630278 10681150 0 4563920 0 4563920 94432 161601 53494 25001 147926 186602 147926 4750522 15778204 15431672 400000 11085084 11485084 0 -803934 -803934 400,00010,281,15010,681,150 0 4563920 4563920 0 385208 385208 400000 15230278 15630278 The purpose of the company is to own capital shares in other companies. 0 0 During the financial year, the company did not employ any staff, and no salary or personnel-related expenses were incurred. The registered director does not receive any form of remuneration and is therefore excluded from the calculation of the average number of employees. 4355 4640 4355 4640 4705 4775 0 49 4705 4824 0 -723094 0 -723094 18261903 18261903 18261903 18261903 -3084881 -18261903 408172 750724 0 -803934 0 25093333 0 9863101 -2676709 -3084881 15585194 15177022 Investments in subsidiaries are specified as follows:627,57215,585,194408,172Other adjustments consists of contribution from groupReversals for the year of revaluations in previous years consists of negative equity value beginning of year MATE.mothership ApS København 1.00 15585194 408172 Joint liabilitiesThe Danish companies of the group is jointly and severally liable for tax on the group’s jointly taxed income and for certain possible withholding taxes such as dividend tax and royalty tax, and for the joint registration of VAT. The Annual Report of MATE.world 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. During the preparation of the annual accounts for 2025, it was established that the annual accounts for 2024 of a subsidiary contained a material error. As described in the subsidiary’s annual accounts, certain liabilities relating to holiday pay and outstanding taxes were not recognised. As the company recognises investments in subsidiaries using the equity method, the error in the subsidiary affects the carrying amount of investments in subsidiaries and equity in the parent company. The omission constitutes a material error and has therefore been corrected through equity as of 1 January 2025. Comparative figures have been restated. The correction reduces investments in subsidiaries and equity as of 1 January 2025 by TDKK 804. With reference to section 110 of the Danish Financial Statements Act, no consolidated financial statements are prepared. Other external expensesOther external expenses include cost of administration etc.Other operating incomeOther operating income includes items of a secondary nature in relation to the enterprises' principal activities, including profit from sale of intangible and tangible assets, operating loss and conflict compensations, as well as salary refunds. Compensations are recognised when the income is estimated to be realisable. Gross lossWith reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of other operating income and other external expenses. Income from investments in subsidiariesThe proportional share of the results of subsidiaries, stated according to the Parent Company’s accounting policies and with full elimination of unrealised intercompany profits/losses and deduction of amortisation of added value and goodwill resulting from purchase price allocation at the date of acquisition, is recognised in the Parent Company’s Income Statement.In connection with transfers, potential profits are recognised when the economic rights related to the sold subsidiaries are transferred, however, at the earliest when the profit has been realised or is regarded as realisable. Moreover, realised losses other than impairments are included where identified. Financial income and expenses include interest income and expenses, financial expenses of finance leases, realised and unrealised gains and losses arising from securities, debt and transactions in foreign currencies, as well as charges and allowances under the tax-on-account scheme, etc. Financial income and expenses are recognised by the amounts that relate to the financial year. Interest income and expenses are calculated on amortised cost prices. Tax on profit/loss for the yearThe tax for the year, which consists of the current tax for the year and changes in deferred tax, is recognised in the Income Statement by the share that may be attributed to the profit for the year, and is recognised directly in equity by the share that may be attributed to entries directly to equity. Investments in subsidiariesInvestments in subsidiaries are recognised and measured under the equity method.The item “Investments in subsidiaries” in the balance sheet include the proportionate ownership share of the net asset value of the enterprises calculated on the basis of the fair values of identifiable net assets at the time of acquisition with deduction or addition of unrealised intercompany profits or losses and with addition of the remaining value of any increases in value and goodwill calculated at the time of acquisition of the enterprises.The total net revaluation of investments in subsidiaries is transferred upon distribution of profit to “Reserve for net revaluation under the equity method“ under equity. The reserve is reduced by dividend distributed to the Parent Company and adjusted for other equity movements in the subsidiaries.Subsidiaries with a negative net asset value are recognised at DKK 0. Any legal or constructive obligation of the Parent Company to cover the negative balance of the enterprise is recognised in provisions.Net revaluation of investments in subsidiaries is transferred under equity to reserve for net revaluation under the equity value method to the extent that the carrying amount exceeds the acquisition value.Subsidiaries with a negative carrying equity value are measured to DKK 0 and any amounts due from these enterprises are written down to the extent that it is deemed to be irrecoverable. If the carrying negative equity value exceeds receivables, the residual amount is recognised under provision for liabilities to the extent that the Company has a legal or actual liability to cover the subsidiaries deficit. 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. Current tax receivables and liabilitiesCurrent tax liabilities and receivable current tax are recognised in the Balance Sheet as the calculated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and taxes paid on account.The Company is subject to joint taxation with Danish Group companies. The current corporation tax is distributed among the joint taxable companies in proportion to their taxable income and with full allocation and refund related to tax losses. The joint taxable companies are included in the tax-on-account scheme. Joint taxation contributions receivable and payable are recognised in the Balance Sheet under current assets and liabilities, respectively.Deferred tax is measured on the temporary differences between the carrying amount and the tax value of assets and liabilities.Deferred tax assets, including the tax value of tax loss carryforwards, are measured at the amount at which the asset is expected to be used within a reasonable number of years, either by setoff against tax on future earnings or by setoff 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 under the legislation in force on the Balance Sheet date will be applicable when the deferred tax is expected to crystallise as current tax. Any changes in the deferred tax resulting from changes in tax rates, are recognised in the income statement, except from items recognised directly in equity. Financial liabilities are recognised at the time of borrowing by the amount of proceeds received less transaction costs. In subsequent periods, the financial liabilities are measured at amortised cost equal to the capitalised value when using the effective interest, the difference between the proceeds and the nominal value being recognised in the Income Statement over the loan period.The amortised cost of current liabilities corresponds usually to the nominal value.