28118996 2024-10-01 2025-09-30 28118996 2024-10-01 2025-09-30 memberOfBoardIdentifier_executive_board_1 28118996 2024-10-01 2025-09-30 memberOfBoardIdentifier_board_of_director_1 28118996 2024-10-01 2025-09-30 memberOfBoardIdentifier_board_of_director_2 28118996 2024-10-01 2025-09-30 1 28118996 2023-10-01 2024-09-30 28118996 2025-09-30 28118996 2024-09-30 28118996 2024-10-01 fsa:ContributedCapitalMember 28118996 2024-10-01 fsa:RetainedEarningsMember 28118996 2024-10-01 28118996 2024-10-01 2025-09-30 fsa:ContributedCapitalMember 28118996 2024-10-01 2025-09-30 fsa:RetainedEarningsMember 28118996 2025-09-30 fsa:ContributedCapitalMember 28118996 2025-09-30 fsa:RetainedEarningsMember 28118996 2024-10-01 fsa:InvestmentsInGroupEnterprisesMember 28118996 2023-10-01 fsa:InvestmentsInGroupEnterprisesMember 28118996 2024-10-01 2025-09-30 fsa:InvestmentsInGroupEnterprisesMember 28118996 2023-10-01 2024-09-30 fsa:InvestmentsInGroupEnterprisesMember 28118996 2025-09-30 fsa:InvestmentsInGroupEnterprisesMember 28118996 2024-09-30 fsa:InvestmentsInGroupEnterprisesMember 28118996 2024-10-01 2025-09-30 relatedEntityIdentifier_sub_1 fsa:SubsidiaryMember 28118996 2025-09-30 relatedEntityIdentifier_sub_1 fsa:SubsidiaryMember 28118996 2024-10-01 2025-09-30 relatedEntityIdentifier_sub_2 fsa:SubsidiaryMember 28118996 2025-09-30 relatedEntityIdentifier_sub_2 fsa:SubsidiaryMember 28118996 2024-10-01 2025-09-30 relatedEntityIdentifier_sub_3 fsa:SubsidiaryMember 28118996 2025-09-30 relatedEntityIdentifier_sub_3 fsa:SubsidiaryMember 28118996 2024-10-01 fsa:OtherInvestmentsMember 28118996 2025-09-30 fsa:OtherInvestmentsMember 28118996 2025-09-30 fsa:LongtermPayablesToGroupEnterprisesMember 28118996 2024-09-30 fsa:LongtermPayablesToGroupEnterprisesMember 28118996 2025-09-30 fsa:ShorttermPayablesToGroupEnterprisesMember 28118996 2024-09-30 fsa:ShorttermPayablesToGroupEnterprisesMember 28118996 2025-09-30 fsa:LongtermDeferredIncomeMember 28118996 2024-09-30 fsa:LongtermDeferredIncomeMember iso4217:DKK pure xbrli:pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2024-10-01 2023-10-01 2025-09-30 2024-09-30 Regnskabsklasse B Erklæring om udvidet gennemgang true 2026-01-30 Claus Hansson The Executive Board and Board of Directors have today considered and adopted the Annual Report of MIDFORM HOLDING ApS for the financial year 1 October 2024 - 30 September 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 30 September 2025 of the Company and of the results of the Company operations for 2024/25. We recommend that the Annual Report be adopted at the Annual General Meeting. Kolding 2026-01-30 Claus Hansson CEO Claus Hansson Steven Scott McPartlin To the shareholder of MIDFORM HOLDING ApS Opinion We have performed an extended review of the Financial Statements of MIDFORM HOLDING ApS for the financial year 1 October 2024 - 30 September 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 30 September 2025 and of the results of the Company’s operations for the financial year 1 October 2024 - 30 September 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. 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. Trekantområdet 2026-01-30 PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab 33771231 Lars Almskou Ohmeyer State Authorised Public Accountant mne24817 MIDFORM HOLDING ApS Fjordvej 116 6000 Kolding 28118996 Kolding Herredsvej 32 7100 Vejle -284433 -424507 1529089 1525527 -1813522 -1950034 36386 -404973 214205 213834 2375336 40646433 -3938267 -42787606 -360715 -684347 -3577552 -42103259 -3577552 -42103259 989740 963626 0 0 989740 963626 989740 963626 933228 304005 6552363 7023939 61449 86783 1792851 1432136 22973 22613 9362864 8869476 257 15115 9363121 8884591 10352861 9848217 125000 125000 -6194851 -2617299 -6069851 -2492299 8096391 7793762 2011500 2011500 10107891 9805262 12873 0 231156 190710 5979255 2263084 33934 33053 57603 48407 6314821 2535254 16422712 12340516 10352861 9848217 125000 -2617299 -2492299 0 -3577552 -3577552 125000 -6194851 -6069851 C. Hansson Holding ApS will provide financial support to the company through loans to the extent necessary to finance the company's operations and settle the company's financial obligations. Provided loans and any future loans to the company will not be terminated unless the company's liquidity position is sufficient to justify such repayment, and the parent company's and affiliated companies' claims against the company will be subordinated to other creditors of the company.This agreement on financial support is valid until the company's annual report for 2025/26 has been approved by the general meeting and published. The operating activities of the Midform Group comprise the development, production, and sale of high-grade moulded plywood components and solutions, as well as advanced ergonomic height-adjustable tables for the contract furniture market and residential segments. 1202331 1199031 315000 315000 11758 11496 1529089 1525527 1 1 213030 211964 392 1389 609 0 174 481 214205 213834 2370709 40643898 3466 663 200 486 961 1386 2375336 40646433 Impairment losses on financial assets038,133,082038,133,082 -360715 -1432136 0 747789 -360715 -684347 18076775 18036775 0 40000 18076775 18076775 -18628775 -18223802 36386 -404973 -18592389 -18628775 1505354 1515626 989740 963626 Investments in subsidiaries are specified as follows:1,900,00040,00040,000 Midform A/S Kolding 1.00 TableAir Holding ApS Kolding 1.00 2WorkFromX ApS Kolding 1.00 36354932 36354932 36354932 36354932 0 The following receivables fall due for payment more than 1 year after year end:Corporate tax360,7151,432,136360,7151,432,136 Payments due within 1 year are recognised in short-term debt. Other debt is recognised in long-term debt.The debt falls due for payment as specified below:Payables to group enterprises14,075,64610,056,846Deferred income2,011,5002,011,500 0 0 8096391 7793762 8096391 7793762 5979255 2263084 0 0 2011500 2011500 2011500 2011500 0 0 Charges and securityThe following assets have been placed as security with bankers:A company charge of TDKK 15.500 has been provided for debts to banks with inventories of raw materials, semi-manufacturedgoods and finished goods, fixtures and fittings etc., operating equipment as well as goodwill, domain namesand intellectual rights and receivables with a booked value of9,036,9268,884,591The company charge also acts as collateral for Midform A/S. Other contingent liabilitiesThe Danish group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable is disclosed in the Annual Report of C. Hansson Holding ApS, which is the management company of the joint taxation purposes. Moreover, the Danish group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company's liability. The Annual Report of MIDFORM HOLDING ApS for 2024/25 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 2024/25 are presented in DKK. With reference to section 110 of the Danish Financial Statements Act, no consolidated financial statements are prepared. 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. 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. Other external expensesOther external expenses comprise expenses for administration expenses, etc. Gross lossWith reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue 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. Income from investments in subsidiariesThe item “Income from investments in subsidiaries” in the income statement includes the proportionate share of the profit for the year. 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.The Company is jointly taxed with the Parent Company. The tax effect of the joint taxation is allocated to enterprises in proportion to their taxable incomes. 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. Fixed asset investmentsFixed asset investments, which consist of listed bonds and shares, are measured at their fair values at the balance sheet date. Fair value is determined on the basis of the latest quoted market price.Investments which are not traded in an active market are measured at the lower of cost and recoverable amount. 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 subscriptions, etc. 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. Debts are measured at amortised cost, substantially corresponding to nominal value. Deferred incomeDeferred income comprises payments received in respect of income in subsequent years.