45013405 2024-08-08 2025-12-31 45013405 2024-08-08 2025-12-31 1 45013405 2024-08-08 2025-12-31 2 45013405 2024-08-08 2025-12-31 3 45013405 2024-08-08 2025-12-31 4 45013405 2024-08-08 2025-12-31 5 45013405 2024-08-08 2025-12-31 6 45013405 2024-08-08 2025-12-31 7 45013405 2024-08-08 2025-12-31 1 45013405 2024-08-08 2025-12-31 2 45013405 2024-08-08 2025-12-31 3 45013405 2024-08-08 2025-12-31 1 45013405 2025-12-31 45013405 2024-08-08 c:ContributedCapitalMember 45013405 2024-08-08 c:RetainedEarningsMember 45013405 2024-08-08 2025-12-31 c:RetainedEarningsMember 45013405 2025-12-31 c:ContributedCapitalMember 45013405 2025-12-31 c:RetainedEarningsMember iso4217:DKK xbrli:pure true BDO Statsautoriseret Revisionspartnerselskab Havneholmen 2, 6. sal DK-2450 Copenhagen SV 45719375 2026-07-07 Lars Boye Vesth Årsrapport Apave Denmark ApS c/o USA Denmark Law Advokat ApS 2100 Copenhagen Ø Andre erklæringer uden sikkerhed 45013405 2024-08-08 Copenhagen 2024-08-08 2025-12-31 BDO Statsautoriseret Revisionspartnerselskab Havneholmen 2, 6. sal 2450 Copenhagen SV Today the Board of Directors and Executive Board have discussed and approved the Annual Report of Apave Denmark ApS for the fi­nan­ci­al year 8 August 2024  - 31 December 2025. The Annual Report is presented in accor­dance with the Da­nish Fi­nan­ci­al State­ments Act. In our opinion the Fi­nan­ci­al Sta­te­ments give a true and fair view of the Company's assets, liabilities and financial position at 31 December 2025 and of the results of the Company's operations for the fi­nan­ci­al year 8 August 2024  - 31 December 2025. The Management Commentary includes in our opinion a fair presentation of the matters dealt with in the Commentary. The Board of Directors and Executive Board remain of the opinion that the conditions for opting out of audit have been fulfilled.   We recommend the Annual Report be approved at the Annual General Meeting. Copenhagen 2026-07-07 Lars Boye Vesth Lee Jonathan Richardson Jean-Francois Gagné Mike H. Bazzi Roman Michael Kyrnyckyj Christiaan Wilhelm Weyers Kathleen Gayle Gallagher Paul Charles Chetham Bourdillon Philippe Karl Maillard Christiaan Wilhelm Weyers Chairman To the Shareholder of Apave Denmark ApS We have compiled these Fi­nan­ci­al Sta­te­ments of Apave Denmark ApS for the fi­nan­ci­al year 8 August 2024 - 31 December 2025 based on the Com­pa­ny's accounting records and other information provided by Ma­na­ge­ment.   These Fi­nan­ci­al Sta­te­ments comprise income statement, balance sheet, sta­te­ment of chan­ges in e­qui­ty, no­tes and accounting policies.   We performed this compilation engagement in accordance with the International Standard, Compilation Engagements.   We have applied our professional expertise to assist Ma­na­ge­ment in the preparation and presentation of these Fi­nan­ci­al Sta­te­ments in accordance with the Da­nish Fi­nan­ci­al State­ments Act. We have complied with relevant statutory provisions of the Danish Audit Act and International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code), including principles of integrity, objectivity, professional behaviour, and due care.   These Fi­nan­ci­al Sta­te­ments and the accuracy and completeness of the information used to compile these Fi­nan­ci­al Sta­te­ments are Ma­na­ge­ment’s responsibility.   Since an engagement to compile financial information is not an assurance engagement, we are not required to verify the accuracy or completeness of the information provided by Ma­na­ge­ment to us to compile these Fi­nan­ci­al Sta­te­ments. Accordingly, we do not express an audit opinion or a review conclusion on whether these Fi­nan­ci­al Sta­te­ments are prepared in accordance with the Da­nish Fi­nan­ci­al State­ments Act.   Copenhagen 2026-07-07 BDO Statsautoriseret Revisionspartnerselskab 45719375 Nikolaj Leimand Andre erklæringer uden sikkerhed State Authorised Public Accountant mne47883 Principal activities The principal activities comprise is to provide NDT services, inspection services, and related business activities   Significant events after the end of the financial year No events have occurred after the end of the financial year of material importance for the Company's financial position.   2188343 2128125 60218 2773 57445 12650 44795 44795 44795 111893 111893 88202 200095 200095 40000 44795 84795 20000 12650 115300 115300 200095 DKKSha­re ca­pi­talRetained earningsTotal Equity at 8 August 202440.000040.000 Proposed profit allocation 44.79544.795 Equity at 31 December 202540.00044.79584.795 40000 0 44795 40000 44795 1 | Staff costs Ave­ra­ge num­ber of full ti­me em­ploy­ees1 Wages and salaries 2.128.125 2.128.125 1 2128125 2128125 2 | Other financial expenses Other interest expenses 2.773 2.773 2773 2773 12650 The Annual Report of Apave Denmark ApS for 2024/25 has been presented in accor­dance with the pro­vi­sions of the Da­nish Fi­nan­ci­al State­ments Act for en­ter­pri­ses in re­por­ting class B and cer­tain pro­vi­si­ons ap­ply­ing to re­por­ting class C.  Regnskabsklasse B1truetrueThe Annual Report is prepared with the following accounting principles.   Regnskabsklasse B true Net revenue Income from the sale of services is recognised in the income statement as delivery takes place (delivery method). Revenue is measured at the selling value of the agreed consideration exclusive of VAT and other taxes collected on behalf of third parties and less discounts.   Other external expenses Other external expenses include other production, sales, delivery and administrative costs, including costs of energy, marketing, premises, loss on bad debts, lease expenses, etc   Staff costs Staff costs comprise wages and salaries, including holiday pay and pensions, and other costs of social security etc., for the Com­pa­ny's employees.   Financial income and expenses Financial income and expenses include interest income and expenses, 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 The 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.   Receivables Receivables are measured at amortised cost which usually corresponds to nominal value. The value is written down to meet expected losses.   Write-off is performed to provide for losses when an objective indication has been assessed to have incurred that a receivable or a portfolio of receivables are impaired. If there is an objective indication that an individual receivable is impaired, the write-off is performed at individual level.   Receivables for which there are no objective indication of impairment at individual level are assessed at portfolio level for objective indication of impairment. The portfolios are primarily based on the debtors’ registered office and credit rating in accordance with the Company’s policy for credit risk management. The objective indicators, which are applied for portfolios, are determined based on the historical loss experiences.   Write-off is determined as the difference between the carrying amount of receivables and the present value of the expected cash flows, including realisable value of any received collaterals. The effective interest rate is used as discount rate for the single receivable or portfolio.   Tax payable and deferred tax Current 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.   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.   Liabilities 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.