36469277 2024-02-01 2025-01-31 36469277 2024-02-01 2025-01-31 0 36469277 2024-02-01 2025-01-31 1 36469277 2024-02-01 2025-01-31 2 36469277 2024-02-01 2025-01-31 0 36469277 2024-02-01 2025-01-31 cmn:OtherRenderingOfReportedValueMember 36469277 2023-02-01 2024-01-31 cmn:OtherRenderingOfReportedValueMember 36469277 2022-02-01 2023-01-31 36469277 2021-02-01 2022-01-31 36469277 2020-02-01 2021-01-31 36469277 2025-01-31 cmn:OtherRenderingOfReportedValueMember 36469277 2024-01-31 cmn:OtherRenderingOfReportedValueMember 36469277 2023-01-31 36469277 2022-01-31 36469277 2021-01-31 36469277 2023-02-01 2024-01-31 36469277 2025-01-31 36469277 2024-01-31 iso4217:DKK xbrli:pure 2024-02-01 2025-01-31 Regnskabsklasse C, mellemstor virksomhed Årsrapport 34209936 Grant Thornton, Statsautoriseret Revisionspartnerselskab Lautrupsgade 11 2100 København Ø xWizard version 1.1.1382.0, by EasyX Aps. www.easyx.eu 2023-02-01 2024-01-31 Revisionspåtegning Grundlag for konklusion Konklusion 2025-07-25 Shaun Robert Garth Redgrave MANAGEMENT’S STATEMENT   The Executive Board has today considered and adopted the annual report of Peakon ApS (the ‘Company’)   for the financial year 1 February 2024 - 31 January 2025.   The annual report is prepared in accordance with the Danish Financial Statements Act.   In our opinion, the financial statements and management's review give a true and fair view of the financial   position of the Company at 31 January 2025 and of the results of the Company's operations for the period 1   February 2024 - 31 January 2025.   We recommend that the annual report is adopted at the Annual General Meeting.   2025-07-25 Brian Montgomery Shaun Robert Garth Redgrave Brian Stephen Montgomery INDEPENDENT AUDITOR’S REPORT   To the Shareholders of Peakon ApS   Opinion   We have audited the financial statements of Peakon ApS for the financial year 1 February   2024 - 31 January 2025, which comprise a summary of significant accounting policies, income statement,   balance sheet and notes, for the Company. The financial statements are prepared under 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 January 2025, and of the results of the Company's operations for the financial year 1 February 2024   - 31 January 2025 in accordance with the Danish Financial Statements Act.   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’s Responsibilities for the Financial Statements   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.   Auditor’s Responsibilities for the Audit of the Financial Statements   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 judgment and maintain professional skepticism 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.   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.   Statement on Management’s Review   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 audit 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 audit, 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, we conclude that 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 Management’s Review.   2025-07-25 Grant Thornton Certified Public Accountants 34209936 Jacob Helly Juell-Hansen State Authorised Public Accountant mne36169 Peakon ApS Nybrogade 12 1203 Copenhagen K 36469277 FINANCIAL HIGHLIGHTS   The development of the Company over the last five year period, is described by the following financial   highlights:   2025   2024   2023   2021/22   2020   DKK'000   DKK'000   DKK'000   DKK'000   2730000 -508000 -573000 7946000 38425000 2019000 2019000 1837000 196936000 2989040000 1989087000 17762000 354093000 -299486000 -315968000 12279000 200466000 -43362000 -89391000 -2022000 -536000 -3884000 2311081000 -153122000 -91117000 218657000 153331000 215472000 153867000 122318000 572805000 -96766000 190407000 56179000 -185685000 0 0 0 0 963000 The above financial highlights should be read in conjunction with the accompanying notes.   The 2021/22 financial period end was changed from 31 December to 31 January due to the Workday   acquisition of the Company. The 2021/22 financial period comprises 13 months from 1 January 2021 to 31   January 2022. All other financial years following 2021/22 comprises 12 months from 1 February to 31   January.   (*) see note 1.6 for further details of the prior year adjustments.   MANAGEMENT’S REVIEW   Key activities   The primary activity of the Company is the development of software for measuring and improving employee   engagement, employee performance and full range of employee experience across the employee lifecycle.   The Company sells licenses and professional support services for this software.   Development in the period   The net turnover of the Company for the year ended 31 January 2025 is DKK 2,729,921 (2024: DKK   38,425,476). Net results for the year ended 31 January 2025 from ordinary activities after tax is a loss of   DKK (535,712) (2024: a loss of DKK 3,883,859).   The revenue projected in the prior year for the financial year 2025 was in the range of DKK 8 million. The   projected revenue was not met as the Company has seen new contracts being transferred to other Workday   entities, leading to a material decline in recognised revenue as the year progressed.   Future developments   Management expects during the financial year 2026, revenue in the range of DKK 1 million. The projections   are based on maintaining the current contracts with customers as well as a sales agreement which has been   signed in 2025. There has been a reduction in revenue as the existing customers with new contracts have   now transferred to other Workday entities.   No decision has been made regarding the Company’s other relevant expected development.   Principal risks and uncertainties   The principal risks and uncertainties currently facing the business include the threat of competition,   intellectual property protection risk and challenges associated with recruitment and retention of highly skilled   employees.   Management has considered its exposure to the following risks and does not consider the Company to have   significant exposures in respect of these risks.   The Company’s principal financial assets include cash, other debtors and amounts due from group   undertakings. The credit risk associated with cash is limited. There is also limited risk with amounts due from   group undertakings. Exposure to credit risk is monitored on an ongoing basis.   These risks are managed in accordance with policies approved by the directors.   Uncertainty relating to recognition and measurement   In preparing these financial statements, management has made certain judgements, estimates and   assumptions in line with the Company's accounting policies. Management has not identified any material   uncertainties relating to recognition and measurement.   For more details on judgements made in relation to uncertain tax positions, please see note 10.   External environment   The Company currently has no formal assessment of its environmental impact. As a software service   provider, our business activities are not considered to be carbon intensive.   Subsequent events   In July 2025, an error was discovered in the interest calculation of the provisional for uncertain tax positions.   This has been corrected by restating the prior year to account for the accumulated interest from November   2023 (see note 1.6).   Going concern   The statement of financial position shows net current liability of DKK 49 million (2024: net current liability of   DKK 42 million). The Company meets its day-to-day working capital requirements by way of advances from   group companies. The parent, Workday, Inc., has confirmed that it will provide financial support to the   Company, as required, for a period of no less than twelve months from the date of approval of these financial   statements. On the basis of this information, the directors consider that it is appropriate to prepare the   financial statements on the going concern basis. See note 2 for details.   2 Going concern   The statement of financial position shows net current liability of DKK 49 million (2024: net current liability   of DKK 42 million). The Company meets its day-to-day working capital requirements by way of advances   from group companies. The ultimate parent, Workday, Inc., has confirmed that it will provide financial   support to the Company, as required, for a period of no less than twelve months from the date of approval   of these financial statements. On the basis of this information, the directors consider that it is appropriate   to prepare the financial statements on the going concern basis.   2729921 38425476 514123 3752337 -508293 0 36406264 2019212 64497 0 -572790 2019212 7945826 0 2848676 1011743 3856145 7373036 7908748 -535712 7740004 -3883859 202578950 202578950 195801982 195801982 278443 15661073 0 1161958 18354583 65103 15939516 19581644 138790 16078306 218657256 88582 19670226 215472208 3494129 149836817 153330946 3494129 150372529 153866658 42601 3967955 0 0 3620045 732591 61315754 0 55029102 2223812 61605550 65326310 65326310 61605550 218657256 215472208 STATEMENT OF CHANGES IN EQUITY   Financial Year Ended 31 January 2025   Share   Retained   Total  capital   earnings   DKK   DKK   DKK   Equity at 1 February 2024   3,494,129   156,522,949   160,017,078   Corrections according to section 52(2) of the Danish   Financial Statements Act   0 (6,150,420)   (6,150,420)   Equity at 31 January 2024 - as restated*   3,494,129   150,372,529   153,866,658   Net profit/loss for the year   0 (535,712)   (535,712)   Equity at 31 January 2025   3,494,129   149,836,817   153,330,946   The above statement of changes in equity should be read in conjunction with the accompanying notes.   (*) see note 1.6 for further details of the prior year adjustments.   policies   The annual report of Peakon ApS for 2025 has opted in to prepare in accordance with the provisions of   the Danish Financial Statements Act applying to medium-sized enterprises of reporting class C, even   though Peakon ApS is a small-size enterprise of reporting class B.   The accounting policies applied remain unchanged from prior year.   The financial statements for 2025 are presented in DKK.   NOTES TO THE FINANCIAL STATEMENTS - continued   NOTES TO THE FINANCIAL STATEMENTS - continued   flow statement   With reference to section 86(4) of the Danish Financial Statements Act and to the cash flow   statement included in the consolidated financial statements of Workday, Inc., the Company has not   prepared a cash flow statement.   and measurement   Revenues are recognised in the income statement when earned, whereas costs are recognised by   the amounts attributable to this financial period.   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 from 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.   Recognition and measurement take into account predictable losses and risks occurring before the   presentation of the annual report which confirm or invalidate affairs and conditions existing at the   balance sheet date.   policies   Upon initial recognition, foreign currency transactions are translated by 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.   statement   statement - continued   (a) Revenue   Revenue from the sale of services is recognised in the income statement when delivery is made   to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at  fair value of the consideration fixed.   The Company has selected IAS 18 as its interpretation for revenue recognition. Income from the   sale of marketing support and professional services is recognised in revenue when the most   significant rewards and risks have been transferred to the buyer, the income can be measured   reliably and payment is expected to be received.   (b) Write down of financial assets   The write down of financial assets represents the shortfall between the carrying value of the   investment in subsidiaries and the recoverable amount of the assets.   (c) Other external expenses   Other external expenses include expenses relating to the Company's ordinary activities, including   expenses for premises, stationery and office supplies, marketing costs, etc. This item also   includes writedowns of receivables recognised in current assets.   (d) Staff expenses   Staff expenses are comprised of wages and salaries, including holiday allowance and pensions   and other social security costs for the Company's employees.   (e) Amortisation, depreciation and impairment losses   Depreciation, amortisation and impairment losses relating to property, plant and equipment and   intangible assets comprise depreciation, amortisation and impairment losses for the financial   period, as well as gains and losses from the sale of intangible assets as well as property, plant   and equipment.   (f) Other operating income and expenses   Other 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 intangible assets   and property, plant and equipment.   (g) Financial income and expenses   Other financial income comprises interest income, including net capital or exchange gains on   securities, payables and transactions in foreign currencies, amortisation of financial assets as well   as tax relief under the Danish Tax Prepayment Scheme etc.  Other financial expenses comprise interest expenses, including net capital or exchange losses on   securities, payables and transactions in foreign currencies, amortisation of financial liabilities as   well as tax surcharge under the Danish Tax Prepayment Scheme etc.   (h) Tax on profit/loss for the period   Tax for the period, which consists of current tax for the period and changes in deferred tax, is  recognised in the income statement by the portion attributable to the profit for the period and   recognised directly in equity by the portion attributable to entries directly in equity.   Tax on uncertain tax positions is recognised in the income statement. The provision for taxes  includes the effects on any accruals that are appropriate.   sheet   sheet - continued   (a) Impairment of fixed assets   Items of property, plant and equipment are written down to the lower of recoverable amount and   carrying amount.   (b) Receivables   Receivables are measured at amortised cost.   Write-down for bad and doubtful debts is made when there is objective evidence that a   receivable or a portfolio of receivables has been impaired. If there is objective evidence that an   individual receivable has been impaired, an impairment loss is recognised on an individual basis.   Receivables in respect of which there is no objective evidence of individual impairment are tested   for objective evidence of impairment on a portfolio 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 of the individual receivable or portfolio is used   as discount rate.   (c) Prepayments   Prepayments comprise incurred costs relating to subsequent financial years. Prepayments are   measured at cost.   (d) Deferred tax assets and liabilities   Deferred 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 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.   (e) Current tax receivables and liabilities   Current tax payable or receivable include provisions for uncertain tax positions by application of   the framework in IFRIC 23 and by using the expected value method, is recognised in the balance   sheet, stated as tax computed on this period’s taxable income, adjusted for prepaid tax.   With Workday Denmark ApS, CVR No: 36424141, as administration company, the Company is   subject to the Danish scheme of joint taxation and unlimitedly, jointly and severally liable, along   with other jointly taxed companies, for the total corporation tax.   The Company is unlimitedly, jointly and severally liable, along with the other jointly taxed   companies, for any obligations to withhold tax on interest, royalties and dividends.   (f) Deferred income   Deferred income comprises income received for recognition in subsequent financial years.   Deferred income is measured at cost.   year restatement   Management has corrected the interest calculation applied to provisions for uncertain tax positions in   the financial years 2023 and 2024. A monthly interest rate of 0.9% should have been applied;   however, an annual rate of 0.9% was unintentionally used. In accordance with section 52(2) of the   Danish Financial Statements Act, the annual report for the financial year 2025 reflects this correction.   As a result, the corporation tax for 2024 has been increased by approximately DKK 6.2 million,   leading to a corresponding increase in tax expense and a reduction in equity of the same amount.   The monetary impact of the above changes on the 2024 comparative figures, including opening   equity, is detailed below by financial statement line:   2024   2024   Adjustment   (Restated)   DKK   DKK   DKK   Income statement (extract)   Tax on profit/loss for the year  (1,589,584)   (6,150,420)   (7,740,004)   Net profit/loss for the year   2,266,561   (6,150,420)   (3,883,859)   Balance sheet (extract)   Retained earnings   156,522,949   (6,150,420)   150,372,529   Equity   160,017,078   (6,150,420)   153,866,658   Corporation tax   48,878,682   6,150,420   55,029,102   Short-term debt   55,455,130   6,150,420   61,605,550   Debt   55,455,130   6,150,420   61,605,550   3 Staff expenses   2025   2024   DKK   DKK   Wages and salaries   0 0 Pensions   (317)   0 Other social security expenses   64,814   0 64,497   0 Average number of employees   0 0 The number of employees as of 31 January 2025 is zero as all employees have been transferred to   Workday Denmark ApS from April 2021.   0 0 4 Financial income   2025   2024   DKK   DKK   Bank interest income   48   145,296   Interest received from group companies   6,776,967   2,703,380   Foreign exchange gain   1,168,811   0 7,945,826   2,848,676   5 Tax on profit/loss for the year   2025   2024   DKK   DKK   (Restated)*   Current tax for the year   7,897,485   6,500,237   Adjustment of tax concerning previous years   0 1,239,767   Adjustment of deferred tax concerning previous years   11,263   0 7,908,748   7,740,004   (*) see note 1.6 for further details of the prior year adjustments.   NOTES TO THE FINANCIAL STATEMENTS - continued   of loss   2025   2024   DKK   DKK   (Restated)*   -535712 -3883859 7 Investments in subsidiaries   2025   2024   DKK   DKK   Cost at 1 February   186,414   186,414   Disposals for the period/year   (186,414)   0 Cost at 31 January   0 186,414   Impairment losses at 1 February   186,414   186,414   Impairment losses   (186,414)   0 Impairment losses at 31 January   0 186,414   Carrying amount at 31 January   0 0 Investments in subsidiaries are measured at cost and are written down to the lower of their recoverable   amount and their carrying amount.   During the financial year 2023 investments in subsidiaries were written down to nil. As at 31 January   2025, all subsidiaries have been wound down. On 17 April 2024, Peakon Ltd was liquidated.   8 Share capital   The share capital is broken down as follows:   Number   Nominal value   DKK   Shares   349,412,895   3,494,129   3,494,129   The share capital is broken down as follows:   2025   2024   2021/22   2021   2020   DKK   DKK   DKK   DKK   DKK   Share capital at 1   February   3,494,129   3,494,129   3,494,129   3,317,036   3,317,036   Capital increase   0 0 0 177,093   0 Capital decrease   0 0 0 0 0 Share capital at 31   January   3,494,129   3,494,129   3,494,129   3,494,129   3,317,036   NOTES TO THE FINANCIAL STATEMENTS - continued   9 Other payables   Payments due within 1 year are recognised in short-term debt.   2025   2024   DKK   DKK   Other short-term payables   0 732,591   0 732,591   10 Corporation tax   Corporation tax of DKK 61 million (financial year 2024: DKK 55 million) is linked to a provisional for   uncertain tax positions.   The amount is estimated by application of the framework in IFRIC 23 and by using the expected value   method.   The provision relates to prior years transaction for intellectual property, where the valuation of intellectual   property follows the Acquisition Price Method (APM).   The transaction was carried out at the median value of the APM range - a value that was also supported   by a valuation through an Income Approach.   The uncertainty relates to several key input perimeters that were further expanded in the analysis of the   tax position, including WACC Discount factor for routine return on distribution and WACC Discount factor   routine return on services.   With the expanded range of the input perimeters, the company concluded that a higher value of   intellectual property could be the more likely than not position that they could reach a settlement with the   Danish tax authority, representing an incremental intellectual property value of $32,945,000. Thus, the tax   exposure related to the incremental IP value of $32,945,000 was recorded in Q1 FY23 as the uncertain   tax position.   The uncertain tax provision also includes a tax receivable of DKK 2.5 million corresponding to the tax   value of a foreign currency exchange loss, that has not been deducted in the income tax statement.   2025   2024   DKK   DKK   (Restated)*   Current taxes   0 0 IFRIC 23 related to intellectual property   50,852,201   50,852,201   IFRIC 23 related to foreign currency exchange loss (receivable)   (2,498,375)   (2,498,375)   Accumulated interest consideration for expected penalty for   underpaid taxes   12,961,928   6,675,276   61,315,754   55,029,102   (*) see note 1.6 for further details of the prior year adjustments.   11 Deferred income   Deferred income is composed of subscription-based revenue already invoiced relating to subsequent   financial years.   NOTES TO THE FINANCIAL STATEMENTS - continued   12 Joint taxation   With Workday Denmark ApS, CVR No: 36424141, as administration company, the Company is subject to   the Danish scheme of joint taxation and unlimitedly, jointly and severally liable, along with other jointly   taxed companies, for the total corporation tax.   The Company is unlimitedly, jointly and severally liable, along with the other jointly taxed companies, for   any obligations to withhold tax on interest, royalties and dividends.   13 Related parties   Basis   Controlling interest   Workday, Inc., The Corporation Trust Company   Corporation Trust Center, 1209 Orange Street   Wilmington, DE 19801, USA   Parent company   Transactions   During the year, the Company had the following transactions with related parties:   All transactions with related parties are entered into at arm's length.   Sale of services to group companies   Workday, Inc.   TDKK 0 (2024: TDKK 2)   Other related parties   TDKK 0 (2024: TDKK 658)   Purchase of services   Workday, Inc.   TDKK 0 (2024: TDKK 0)   Other related parties   TDKK 3,572 (2024: TDKK 35,888)   Interest received (Note 4)   Workday, Inc.   TDKK 6,777 (2024: TDKK 2,703)   Other related parties   TDKK 0 (2024: TDKK 0)   The following balances are outstanding at the end of the reporting year in relation to transactions with   related parties:   Receivables   Workday, Inc.   TDKK 0 (2024: TDKK 2)   Other related parties   TDKK 15,661 (2024: TDKK 18,353)   Payables   Workday, Inc.   TDKK 0 (2024: TDKK 0)   Other related parties   TDKK 3,968 (2024: TDKK 3,620)   NOTES TO THE FINANCIAL STATEMENTS - continued   13 Related parties - continued   Consolidated Financial Statements   The parent company and controlling party is Workday, Inc., a company incorporated in the United States   of America with its registered office at The Corporation Trust Company, Corporation Trust Center, 1209   Orange Street, Wilmington, DE 19801, United States of America.   The smallest and largest group into which the results of Peakon ApS are consolidated is Workday, Inc.   The consolidated financial statements are available from the ultimate parent company’s website at   www.workday.com/en-us/company/investor-relations.html.   Name   Workday, Inc.   The Corporation Trust Company   Corporation Trust Center,   1209 Orange Street   Wilmington, DE 19801, USA   14 Financial highlights   Explanation of financial ratios   Gross margin   Gross profit x 100   Revenue   Net margin   Net profit/loss for the year x100   Revenue   Solvency ratio   Equity at year end x100   Total assets at year end  Place of registered office