821514192024-01-012024-12-31821514192024-01-012024-12-311821514192024-01-012024-12-311821514192024-01-012024-12-312821514192024-01-012024-12-313821514192024-01-012024-12-311821514192024-01-012024-12-312821514192024-12-31821514192023-12-31fsa:ContributedCapitalMember821514192023-12-31fsa:ReserveForNetRevaluationAccordingToEquityMethodMember821514192023-12-31fsa:ReserveForDevelopmentExpenditureMember821514192023-12-31fsa:RetainedEarningsMember821514192023-12-31821514192024-01-012024-12-31fsa:ReserveForNetRevaluationAccordingToEquityMethodMember821514192024-01-012024-12-31fsa:ReserveForDevelopmentExpenditureMember821514192024-01-012024-12-31fsa:RetainedEarningsMember821514192024-12-31fsa:ContributedCapitalMember821514192024-12-31fsa:ReserveForNetRevaluationAccordingToEquityMethodMember821514192024-12-31fsa:ReserveForDevelopmentExpenditureMember821514192024-12-31fsa:RetainedEarningsMember821514192023-01-012023-12-31iso4217:DKKxbrli:pureThe Board of Directors and the Executive Board have today considered and approved the annual report of DKT A/S for the financial year 01.01.2024 - 31.12.2024.50619816560946The annual report is presented in accordance with the Danish Financial Statements Act.830534310812998In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024.24900462457451We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.-5733408-6709503We recommend the annual report for adoption at the Annual General Meeting.5210490Kirke Såby1090242245407Anthony William Joseph Basham71437124128Anthony William Joseph Basham-4193554-6588224Robert Kaspar Friedrich Kresing2589000-3571724Alper Türken-6782554-3016500To the shareholders of DKT A/S-6782554-3016500We have audited the financial statements of DKT A/S for the financial year 01.01.2024 - 31.12.2024, which comprise the 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. ​ ​In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024 in accordance with the Danish Financial Statements Act.We conducted our audit in accordance with International Standards on Auditing (ISAs) and 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 this auditor’s report. We are independent of the Entity 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.28862834632004Management 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 Entity’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.258922880330Our 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 Entity’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 Entity’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 ​Entity to cease to continue as a going concern.​Evaluate the overall presentation, structure and content of the financial statements, including the disclosures ​in the notes, 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.988963167034501303483612215784Management is responsible for the management commentary. Our opinion on the financial statements does not cover the management commentary, 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 commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the management commentary provides the information required by relevant law and regulations.Based on the work we have performed, we conclude that the management commentary is in accordance with the financial statements and has been prepared in accordance with the requirements in the relevant law and regulations. We did not identify any material misstatement of the management commentary. 14257419495354831125371Copenhagen197405320324Henrik Wolff Mikkelsen46411584641158mne33747300000300000State Authorised Public Accountant49411584941158Anders Rødgaard Østdal1817339917477266mne506201490284919806336State Authorised Public Accountant03168963Primary activitiesThe DKT A/S offers a comprehensive range of products for broadband and telecommunication networks, categorized into three main groups: 1. FTTH/FTTB (Fibre To The Home/Fibre To The Building) Networks 2. Coaxial Distribution a. Focused on DOCSIS 3.1 upgrades and solutions 3. Home Networks a. Focused on the distribution of broadband services to households, including Wi-Fi/wireless networks Focused on the distribution of broadband services to households, including Wi-Fi/wireless networks The products are primarily developed by DKT and distributed through its own companies or via partners, mainly across Europe. With over 40 years of experience, DKT began by specializing in coaxial networks and expanded to include fibreoptic networks around the year 2000, recognizing it as the future of telecommunications. Leveraging this historical expertise, DKT aims to solidify its role as a key partner to operators, installers, and solution providers. Our vision is to enhance the standard of living in Europe by improving broadband performance in networks and homes, with a focus on quality and innovation. DKT A/S was acquired by the Netceed Group in May 2023. All companies within the Group share a common mission: the development and consultancy of products and solutions for broadband networks. In this collaborative framework, DKT serves as the international arm of the Group, leveraging collective strengths through its proprietary products. This strategic alignment significantly boosts our capacity to achieve our vision. Recently, DKT established subsidiaries in United Kingdom and Sweden, both crucial markets for our growth 1490284922975299Development in activities and financesIn 2024, DKT reported a loss of DKK 6,782,554 compared to a loss of DKK 3,016,500 in the previous year. The balance sheet as of 31st of December 2024 shows equity of DKK 49,796,950. As DKT A/S is the development arm of the DKT group most sales have been through DKT Connect A/S, DKT AB and DKT Fibrecom Ltd. DKT A/S has been through a slimming of the organisation to enable the transition into the larger Netceed Group structure. 44622086354275Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. 1317547414013449This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.02589000Changes in accounting policiesInvestments in group enterprises are recognised and measured at cost and written down to the lower of recoverable amount and carrying amount. Previously, investments in group enterprises were measured using the equity method. Comparative figures have been adjusted to reflect the changed accounting practice. The change in accounting policies has resulted in a increase in the profit for the year 2023 by DKK 386 thousand and a decrease in equity at the beginning of 2023 by DKK 2,773 thousand. Furthermore, investments in group enterprises have decreased by DKK 6,995 thousand, and receivables from group enterprises have increased by DKK 4,609 thousand. The change has no tax effect. Apart from the aforementioned change, the annual report has been prepared using the same accounting policies as last year.33281554000Consolidated financial statementsReferring to section 110 of the Danish Financial Statements Act, no consolidated financial statements have been prepared.8570000Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.1158535218081Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses.Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates.​​When recognising foreign subsidiaries and associates that are independent entities, the income statements ​are translated at average exchange rates for the months that do not significantly deviate from the rates at the transaction date. Balance sheet items are translated using the exchange rates at the balance sheet date. Goodwill​is considered belonging to the independent foreign entity and is translated using the exchange rate at the balance sheet date. Exchange differences arising out of the translation of foreign subsidiaries’ equity at the beginning of the year at the balance sheet date exchange rates and out of the translation of income statements from average rates to the exchange rates at the balance sheet date are recognised directly in the translation reserve in equity.​​Exchange adjustments of outstanding accounts with independent foreign subsidiaries, which are considered ​part of the total investment in the subsidiary in question, are recognised directly in the translation reserve in equity.When recognising foreign subsidiaries that are integral entities, monetary assets and liabilities are translated using the exchange rates at the balance sheet date. Non-monetary assets and liabilities are translated at the exchange rate at the time of acquisition or the time of any subsequent revaluation or writedown. The items of the​income statement are translated at the average rates of the months; however, items deriving from non-monetary​assets and liabilities are translated using the historical rates applicable to the relevant non-monetary items.199860322322880543986491179335Gross profit or lossGross profit or loss comprises revenue, changes in inventories of finished goods, other operating income, cost of raw materials and consumable, own work capitalised and other external expenses.3928753047383439RevenueThe Company has chosen IAS 18 as interpretation for revenue recognition. Income from the sale of goods for resale and finished goods, is recognised in revenue 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. The date of the transfer of the most significant rewards and risks is based on standardised terms of delivery based on Incoterms® 2010. 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.5746092964860705Own work capitalisedOwn work capitalised comprises staff costs and other costs incurred in the financial year and recognised in cost for proprietary intangible assets and property, plant and equipment.10000001000000Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities.99652138841654Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for normal inventory writedowns.3883173746737850Other external expensesOther external expenses include expenses relating to the Entity’s normal activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets.4979695056579504Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc . for entity staff.354730Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year.40441923650718Income from investments in group enterprisesIncome from investments in group enterprises comprises dividends etc. received from the individual group enterprises in the financial year.22695952712656Other financial incomeOther financial income comprises interest income, including interest income on receivables from group enterprises, transactions in foreign currencies, and other interest income. 4000000Other financial expensesOther financial expenses comprise interest expenses, transactions in foreign currencies and other interest expenses.9147191917827Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.The Entity is jointly taxed with all Danish group enterprises. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses).76639798281201Intellectual property rights etc.Intellectual property rights etc. comprise development projects completed and in progress, and acquired intellectual property rights.Development projects on clearly defined and identifiable products and processes, for which the technical rate ​of utilisation, adequate resources and a potential future market or development opportunity in the enterprise ​can be established, and where the intention is to manufacture, market or apply the product or process in question, are recognised as intangible assets. Other development costs are recognised as costs in the income ​statement as incurred. When recognising development projects as intangible assets, an amount equalling ​the costs incurred less deferred tax is taken to equity in the reserve for development costs that is reduced ​as the development projects are amortised and written down.​​ ​​The cost of development projects comprises costs such as external costs that are directly and indirectly attributable to the development projects.​​​​Completed development projects are amortised on a straight-line basis using their estimated useful lives ​which are determined based on a specific assessment of each development project. If the useful life cannot ​be estimated reliably, it is fixed at 10 years. For development projects protected by intellectual property rights, the maximum period of amortisation is the remaining duration of the relevant rights. The amortisation periods used are 3-5 years. Intellectual property rights acquired are measured at cost less accumulated amortisation. Patents are amortised on a straight-line basis over their remaining duration, and licences are amortised over the term of the agreement.​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.766397982812015746092964860705Property, plant and equipmentPlant and machinery and other fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:Useful life Plant and machinery5Other fixtures and fittings, tools and equipment3Estimated useful lives and residual values are reassessed annually. Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount.100000015Investments in group enterprisesInvestments in group enterprises are measured at cost. Investments are written down to the lower of recoverable amount and carrying amount.6995135InventoriesInventories are measured at the lower of cost using the FIFO method and net realisable value. ​​Cost consists of purchase price plus delivery costs.​​Indirect production costs comprise indirect materials and labour costs, costs of maintenance of, depreciation ​of machinery, factory buildings and equipment used in the manufacturing process, and costs of factory administration and management. Finance costs are not included in cost. ​​The net realisable value of inventories is calculated as the estimated selling price less completion costs and ​costs incurred to execute sale.884165442129349ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. However, no deferred tax is recognised for amortisation of goodwill disallowed for tax purposes and temporary differences arising at the date of acquisition that do not result from a business combination and that do not have any effect on profit or loss or on taxable income. Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.-6995135Tax payable or receivableCurrent tax payable or receivable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax.Joint taxation contributions payableCurrent joint taxation contributions receivable payable are recognised in the balance sheet, calculated as tax computed on the taxable income of the year, which has been adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement.0PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.4608501CashCash comprises bank deposits.-2386634Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.01123559Grundlag for konklusion-1123559Konklusion02025-07-1702025-07-17-6782554true2023-01-0110000002023-12-310339635569965213København S38831737230061 Staff costs2024 DKK2023 DKKWages and salaries7,457,3689,807,035Pension costs728,147866,993Other social security costs119,828138,9708,305,34310,812,998Average number of full-time employees1315Weidekampsgade13Deloitte Statsautoriseret Revisionspartnerselskab2 Other financial income 2024 DKK2023 DKKFinancial income from group enterprises583,645208,325Other interest income35,95637,082Exchange rate adjustments470,6120Other financial income2901,090,242245,407Lejre3 Other financial expenses2024 DKK2023 DKKFinancial expenses from group enterprises62,76444,647Other interest expenses0417Exchange rate adjustments8,67379,06471,437124,128Kirke Såby4 Tax on profit/loss for the year2024 DKK2023 DKKChange in deferred tax2,589,000(3,571,724)2,589,000(3,571,724)40605 Intangible assetsCompleted development projects​DKKAcquired intangible assets​DKKDevelopment projects in progress​DKKCost beginning of year13,448,6311,679,5746,703,450Additions003,186,181Cost end of year13,448,6311,679,5749,889,631Amortisation and impairment losses beginning of year(8,816,628)(799,244)0Amortisation for the year(1,745,720)(621,408)0Amortisation and impairment losses end of year(10,562,348)(1,420,652)0Carrying amount end of year2,886,283258,9229,889,631Regnskabsklasse B6 Development projectsCompleted development projects and development projects in progress comprise development of webpage, products and other IT equipment for use in the operations of the company, as well as the development of products and services with which the company expects to generate additional revenues and where a future market and profit for the company can be proven. Completed development projects are amortized over their useful lives. Development projects are assessed for impairment whenever there is an indication that the development asset may be impaired. The amortisation period for completed development projects are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on intangible assets with finite lives is recognised in the income statement as amortisation. The estimated values of intangible assets are based on Management estimates and assumptions and are by nature subject to uncertainty. Revisionspåtegning7 Property, plant and equipmentPlant and machinery DKKOther fixtures and fittings, tools and equipment DKKCost beginning of year767,5281,354,846Cost end of year767,5281,354,846Depreciation and impairment losses beginning of year(572,575)(1,229,476)Depreciation for the year(52,379)(70,539)Depreciation and impairment losses end of year(624,954)(1,300,015)Carrying amount end of year142,57454,8312024-12-318 Contingent liabilitiesThe Entity serves as the administration company in a Danish joint taxation arrangement. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable for income taxes etc. for the jointly taxed entities, and for obligations, if any, relating to the withholding of tax on interest, royalties and dividend for these entities.2024-01-019 Assets charged and collateralAs security for bank commitment, a business charge at the amount of DKK 42,875 thousand has been issued with security in claims, inventories, intellectual rights and fixtures and fittings, tools and equipment. 6FanøvejDKT A/S82151419339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapport2025-07-17Anthony William Joseph Basham