24977722 2024-10-01 2025-09-30 24977722 2024-10-01 2025-09-30 1 24977722 2024-10-01 2025-09-30 2 24977722 2024-10-01 2025-09-30 1 24977722 2024-10-01 2025-09-30 1 24977722 2024-10-01 2025-09-30 2 24977722 2024-10-01 2025-09-30 3 24977722 2023-10-01 2024-09-30 24977722 2025-09-30 24977722 2024-09-30 24977722 2024-10-01 d:ContributedCapitalMember 24977722 2024-10-01 d:SharePremiumMember 24977722 2024-10-01 d:ReserveForDevelopmentExpenditureMember 24977722 2024-10-01 d:RetainedEarningsMember 24977722 2024-10-01 d:ProposedDividendRecognisedInEquityMember 24977722 2024-10-01 d:ProposedExtraordinaryDividendRecognisedInEquityMember 24977722 2024-10-01 2025-09-30 d:ContributedCapitalMember 24977722 2024-10-01 2025-09-30 d:SharePremiumMember 24977722 2024-10-01 2025-09-30 d:ReserveForDevelopmentExpenditureMember 24977722 2024-10-01 2025-09-30 d:RetainedEarningsMember 24977722 2024-10-01 2025-09-30 d:ProposedDividendRecognisedInEquityMember 24977722 2024-10-01 2025-09-30 d:ProposedExtraordinaryDividendRecognisedInEquityMember 24977722 2025-09-30 d:ContributedCapitalMember 24977722 2025-09-30 d:SharePremiumMember 24977722 2025-09-30 d:ReserveForDevelopmentExpenditureMember 24977722 2025-09-30 d:RetainedEarningsMember 24977722 2025-09-30 d:ProposedDividendRecognisedInEquityMember 24977722 2025-09-30 d:ProposedExtraordinaryDividendRecognisedInEquityMember 24977722 2024-10-01 2025-09-30 1 24977722 2023-10-01 2024-09-30 1 24977722 2024-10-01 2025-09-30 2 24977722 2023-10-01 2024-09-30 2 24977722 2024-10-01 d:CompletedDevelopmentProjectsMember 24977722 2024-10-01 d:DevelopmentProjectsInProgressMember 24977722 2024-10-01 2025-09-30 d:CompletedDevelopmentProjectsMember 24977722 2024-10-01 2025-09-30 d:DevelopmentProjectsInProgressMember 24977722 2025-09-30 d:CompletedDevelopmentProjectsMember 24977722 2025-09-30 d:DevelopmentProjectsInProgressMember 24977722 2024-10-01 d:FixturesFittingsToolsAndEquipmentMember 24977722 2025-09-30 d:FixturesFittingsToolsAndEquipmentMember 24977722 2024-10-01 2025-09-30 d:FixturesFittingsToolsAndEquipmentMember 24977722 2023-10-01 d:ContributedCapitalMember 24977722 2002-01-01 d:ContributedCapitalMember 24977722 2001-01-01 d:ContributedCapitalMember 24977722 2000-01-01 d:ContributedCapitalMember 24977722 2023-10-01 2024-09-30 d:ContributedCapitalMember 24977722 2002-01-01 2002-12-31 d:ContributedCapitalMember 24977722 2001-01-01 2001-12-31 d:ContributedCapitalMember 24977722 2000-01-01 2000-12-31 d:ContributedCapitalMember 24977722 2024-09-30 d:ContributedCapitalMember 24977722 2002-12-31 d:ContributedCapitalMember 24977722 2001-12-31 d:ContributedCapitalMember 24977722 2000-12-31 d:ContributedCapitalMember 24977722 2024-10-01 d:OtherLongtermPayablesMember 24977722 2025-09-30 d:OtherLongtermPayablesMember 24977722 2024-10-01 d:LongtermDeferredIncomeMember 24977722 2025-09-30 d:LongtermDeferredIncomeMember iso4217:DKK xbrli:pure false false Baker Tilly Denmark Odense M 66130730 Danmark false Årsrapport DK 5000 Trivision A/S Odense M 24977722 35257691 DK DK true 35257691 13A 2026-02-04 Odense C Baker Tilly Denmark Godkendt Revisionspartnerselskab Hjallesevej 126 5230 Odense M 2024-10-01 2025-09-30 2023-10-01 2024-09-30 Lind Hansens Vej Jesper Bach Danmark 1999-10-06 Odense 35257691 Søren Vestermark Hansen, CMA Registrered Public Accountant Hjallesevej 126 5230 Danmark 66130730 Baker Tilly Denmark Martin Fruergaard Knudsen State Authorised Public Accountant Hjallesevej 126 5230 Regnskabsklasse B Revisionspåtegning CaseWare-FSR false The supervisory board and executive board have today discussed and approved the annual report of Trivision A/S 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 company's financial position at 30 September 2025 and of the results of the company's operations for the financial year 1 October 2024 - 30 September 2025. In our opinion, management's review includes a fair review of the matters dealt with in the management's review. Management recommends that the annual report should be approved by the company in general meeting. Jesper Bach Matthias Jeindl chairman Jesper Bach Patrick Ruppnig To the shareholder of Trivision A/S Opinion We have audited the financial statements of Trivision A/S for the financial year 1 October 2024 - 30 September 2025, which comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equi­ty and notes. 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 com­pany's financial position 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 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' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and 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 the 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.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 reviewManagement 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 Statements Act. We did not identify any material misstatement of management's review. Odense 2026-01-23 Baker Tilly Denmark Baker Tilly Denmark Søren Vestermark Hansen, CMA Registrered Public Accountant mne3901 Martin Fruergaard Knudsen State Authorised Public Accountant mne50621 Business reviewThe company's purpose is development, marketing and sale of solutions for quality control, automation and optimization of production.    TriVision A/S is engaged in development and sale of quality control and production optimization solutions for the food industry and the pharma industry. The solutions are based on industrial camera technology, digital image processing and use of production data.   TriVision A/S represents many years of experience working practically with the technology at an advanced level. The company's expertise has been gained through the implementation of many advanced installations at large European and US companies. The expertise has been further improved through collaborations with esteemed partners in Denmark and abroad. This expertise has now been translated to standardized machine vision solutions within focused application areas.   TriVision A/S possesses a unique expertise in optimization of the production in terms of improving companies’ economic, social and environmental performance. Financial review The company's income statement for the year ended 30 September 2025 shows a profit of DKK 4,676,893, and the balance sheet at 30 September 2025 shows equity of DKK 11,749,499. Significant events occurring after the end of the financial yearNo events have occurred after the balance sheet date which could significantly affect the company's financial position. 19621261 14522000 11173680 9689000 2207474 707000 6240107 4126000 24405 0 197033 267000 6067479 3859000 1390586 655000 4676893 3204000 5587500 0 308548 0 -1422918 107000 203763 3097000 419041 1192000 0 1049000 419041 2241000 65023 127000 65023 127000 484064 2368000 2101783 1752000 2101783 1752000 3567104 4549000 1612849 2881000 507319 57000 660603 833000 167100 96000 165743 136000 6680718 8552000 9187418 289000 17969919 10593000 18453983 12961000 504800 500000 326852 1749000 5330347 5108000 5587500 0 11749499 7357000 409599 395000 45000 630000 454599 1025000 69877 280000 0 6000 1107909 2086000 1946553 580000 1462186 0 457433 370000 1205927 1257000 6249885 4579000 6704484 5604000 18453983 12961000 500000 0 1749770 5107384 0 0 4800 19200 0 0 0 0 0 0 -308548 -1422918 203763 5587500 308548 -19200 19200 504800 0 326852 5330347 5587500 0 Special items comprise significant income and expenses that are of an exceptional nature compared to the Company’s revenue-generating operating activities, such as material amounts of a non-recurring nature, which, in Management’s opinion, are not part of the Company’s primary operations Other income related to development project (grant) recognised under gross profit 1311514 0 Disposal of development project -1311485 0 9985628 8653000 856828 776000 134912 118000 196312 142000 11173680 9689000 16 14 2145574 640000 61900 67000 2207474 707000 22469 0 1936 0 24405 0 1462186 0 -71600 655000 8088671 1051235 61284 260250 0 -1311485 8149955 0 -6896841 0 -834073 0 -7730914 0 419041 0 The company's development projects relate to the development of new types of production-promoting vision solutions within quality control.   During the year, the Company completed the development of a project with a cost of TDKK 1,311. Due to changes in market conditions, Management has assessed that the project does not meet the recognition criteria under the Danish Financial Statements Act. As a result, an impairment of TDKK 1,311 has been recognized, and the project is therefore measured at TDKK 0. The other recognized projects are progressing as planned.   The company has in the financial years 20/21, 23/24 and 24/25 received a government grant to finance two development projects. Grants are accrued in accordance with depreciation of the development project. 335660 335660 208737 61900 -270637 65023 Work in progress, selling price 22,249,84118,848Work in progress, payments received on account -22,583,545-16,547 1946553 580000 Cash at bank and in hand include custody account deposits as security for payment guarantee. 776,45975 500000 500000 500000 500000 0 0 0 0 500000 500000 500000 500000 394984 409599 0 409599 910447 114877 69877 0 Rent and lease liabilitiesRent liabilities during the periods of notice809,5001,682 The company is jointly taxed with its parent company, Trivision Holding A/S (management company), and jointly and severally liable with other jointly taxed entities for payment of income taxes as well as for payment of withholding taxes on dividends, interest and royalties. As security for balances with the bank, a company charge of TDKK 3,000 has been made in the items of the intangible assets, other plants, fixtures and operating equipment, inventory and receivables from sales, book value totalling TDKK 5,819 per 30 September 2025.The company has placed deposits in the bank of TDKK 776 as security for a payment guarantee of TDKK 1,560. The annual report of Trivision A/S 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 provisions applying to reporting class C entities.The accounting policies applied are consistent with those of last year.The annual report for 2024/25 is pre­sen­ted in DKK Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including amortisation, depreciation and impairment losses, are also recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits 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.On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item.Certain financial assets and liabilities are measured at amortised cost using the effective interest method. Amortised cost is calculated as the historic cost less any installments and plus/less the accumulated amortisation of the difference between the cost and the nominal amount.On recognition and measurement, allowance is made for predictable losses and risks which occur before the annual report is presented and which confirm or invalidate matters existing at the balance sheet date. In pursuance of section 32 of the Danish Financial Statements Act, the company does not disclose its revenue. Gross profit reflects an aggregation of revenue, work performed by the enterprise and capitalised and other operating income less costs of raw materials and consumables and other external expenses. Revenue arises from sales of hardware, software and consultancy services.   Revenue is measured at fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. Revenue is net of all types of discounts granted.   Revenue from hardware is recognised, when the hardware has been delivered or the transfer of risk, usually on delivery to the buyer, has taken place, and that the income can be measured reliably and is expected to be received.   Revenue from proprietary software licenses is recognised, when the customer has been given access to use the system.    Revenue from consultancy services is recognised as the services are provided and straight line over the term of the contract.Income from customised products is recognised as production is carried out, implying that revenue corresponds to the selling price of contracts completed in the year (percentage-of-completion method). This method is applied where the total income and expenses relating to the contract and the stage of completion at the balance sheet date can be estimated reliably and it is probable that future economic benefits will flow to the Company. Work performed by the enterprise and capitalised includes personnel costs and other internal expenses incurred during the financial year and recognised in the cost of self-developed intangible fixed assets. Costs of raw materials and consumables include the raw materials and consumables used in generating the year’s revenue. The item Other operating income includes items of a secondary nature relative to the company’s activities, including gains on the sale of intangible assets and items of property, plant and equipment, operating losses, indemnities relating to operating losses and conflicts as well as payroll refunds. Indemnities are recognised when it is more probable than not that the company is going to be indemnified. Other external costs include expenses related to sale, advertising, administration, premises, bad debts etc. 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. Depreciation, amortisation and impairment of intangible assets and property, plant and equipment comprise the year's depreciation, amortisation and impairment of intangible assets and property, plant and equipment. Financial income and expenses are recognised in the income statement at the amounts that relate to the financial year. Net financials include interest income and expenses and allowances under the Danish Tax Prepayment Scheme, etc. The company is subject to the Danish rules on compulsory joint taxation.On payment of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed entities in proportion to their taxable income. Entities with tax losses receive joint taxation contributions from entities that have been able to use tax losses to reduce their own taxable profits.Tax for the year, which comprises the current tax charge for the year and changes in the deferred tax charge, is recognised in the income statement as regards the portion that relates to the profit/loss for the year and directly in equity as regards the portion that relates to entries directly in equity. Development projects, patents and licencesDevelopment costs comprise costs, wages/salaries and amortisation losses that are directly and indirectly attributable to the company's development activities.Developments projects recognised in the balance sheet are measured at cost less accumulated amortisation and impairment losses.Following the completion of the development work, development costs are amortised on a straight-line basis over the estimated useful life. The amortisation period is usually five years.Gains and losses on the disposal of development projects, patents and licences are determined as the difference between the selling price less costs to sell and the carrying amount at the date of disposal. Gains or losses are recognised in the income statement as other operating income or other operating expenses, respectively. Items of fixtures and fittings, tools and equipment and leasehold improvements are measured at cost less accumulated depreciation and impairment losses.The depreciable amount is cost less the expected residual value at the end of the useful life.Cost comprises the purchase price and any costs directly attributable to the acquisition until the date when the asset is available for use.Straight-line depreciation is provided on the basis of the following estimated useful lives of the assets:  Useful life Residual valueOther fixtures and fittings, tools and equipment 3-5 years 0 %Leasehold improvements 3-5 years 0 %Gains and losses on the sale of items of property, plant and equipment are calculated as the difference between the selling price, less costs to sell, and the carrying amount at the time of sale.   Gains or losses on the sale of items of property, plant and equipment are recognised in the income statement under other operating income or other operating expenses, respectively. Stocks are mea­sured at cost using the FIFO method.  Where the net realisable value is lower than the cost, inventories are recognised at this lower value.The net realisable value of stocks is calculated as the expected selling price less direct costs of completion and expenses incurred to effect the sale. The net realisable value is determined taking into account marketability, obsolescence and expected selling price movements. Receivables are measured at amortised cost.An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable is impaired, an impairment loss for that individual asset is recognised. Contract work in progress is measured at the selling price of the work performed. The selling price is measured by reference to the stage of completion at the balance sheet date and the expected aggregate income from the individual work in progress. The stage of completion is determined as the share of the expenses incurred relative to the expected total expenses for the individual work in progress.Where the selling price of work in progress cannot be estimated reliably, the selling price is measured at the lower of costs incurred and net realisable value.The individual work in progress is recognised in the balance sheet under receivables or payables. Net assets comprise the sum of work in progress where the selling price of the work performed exceeds invoicing on account. Net liabilities comprise the sum of work in progress where invoicing on account exceeds the selling price.Selling costs and costs incurred in securing contracts are recognised in the income statement as incurred. Prepayments recognised under 'Current assets' comprises expenses incurred concerning subsequent financial years. Cash and cash equivalents comprise cash and deposits at banks. Reserve for development costsAn amount corresponding to capitalised development costs is recognised in the reserve. The reserve is reduced as development costs are amortised.DividendsProposed dividends are disclosed as a separate item under equity. Dividends are recognised as a liability when declared by the annual general meeting of shareholders. Current tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account.Joint taxation contributions payable and receivable are recognised in the balance sheet as 'Joint taxation contributions receivable' or 'Joint taxation contributions payable'.Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value.Deferred tax is measured according to the tax rules and at the tax rates applicable in the respective countries at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax adjustments resulting from changes in tax rates are recognised in the income statement, with the exception of items taken directly to equity.Deferred tax assets, including the tax base of tax losses allowed for carry forward, are measured at the value to which the asset is expected to be realised, either as a set-off against tax on future income or as a set-off against deferred tax liabilities within the same legal tax entity. Any deferred net tax assets are measured at net realisable value. Liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value.The compensated absence commitment which the company’s employees earn during the transitional period from 1 September 2019 to 31 August 2020, is administered by the company and is paid in to the Danish Holiday Fund before the employee reaches the pensionable age. Other debt is measured at amortised cost, which usually corresponds to the nominal value. Deferred income recognised under 'Current liabilities' comprises payments received concerning income in subsequent financial years and receive government grants for development projects. On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and at the date of payment are recognised in the income statement as financial income or financial expenses. If foreign currency instruments are considered cash flow hedges, any unrealised value adjustments are taken directly to a fair value reserve under ‘Equity’.