27510760 2025-01-01 2025-12-31 27510760 2025-01-01 2025-12-31 auditor_1 27510760 2025-01-01 2025-12-31 memberOfBoardIdentifier_1 27510760 2025-01-01 2025-12-31 memberOfBoardIdentifier_1 27510760 2025-01-01 2025-12-31 memberOfBoardIdentifier_2 27510760 2025-01-01 2025-12-31 memberOfBoardIdentifier_3 27510760 2024-01-01 2024-12-31 27510760 2023-01-01 2023-12-31 27510760 2022-01-01 2022-12-31 27510760 2021-01-01 2021-12-31 27510760 2025-12-31 27510760 2024-12-31 27510760 2023-12-31 27510760 2022-12-31 27510760 2021-12-31 27510760 2024-12-31 fsa:ContributedCapitalMember 27510760 2024-12-31 fsa:SharePremiumMember 27510760 2024-12-31 fsa:ReserveForDevelopmentExpenditureMember 27510760 2024-12-31 fsa:RetainedEarningsMember 27510760 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 27510760 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 27510760 2025-01-01 2025-12-31 fsa:SharePremiumMember 27510760 2025-01-01 2025-12-31 fsa:ReserveForDevelopmentExpenditureMember 27510760 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 27510760 2025-01-01 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 27510760 2025-12-31 fsa:ContributedCapitalMember 27510760 2025-12-31 fsa:SharePremiumMember 27510760 2025-12-31 fsa:ReserveForDevelopmentExpenditureMember 27510760 2025-12-31 fsa:RetainedEarningsMember 27510760 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 27510760 2024-12-31 fsa:CompletedDevelopmentProjectsMember 27510760 2024-12-31 fsa:AcquiredIntangibleAssetsMember 27510760 2024-12-31 fsa:DevelopmentProjectsInProgressAndPrepaymentsForIntangibleAssetsMember 27510760 2025-01-01 2025-12-31 fsa:CompletedDevelopmentProjectsMember 27510760 2025-01-01 2025-12-31 fsa:AcquiredIntangibleAssetsMember 27510760 2025-01-01 2025-12-31 fsa:DevelopmentProjectsInProgressAndPrepaymentsForIntangibleAssetsMember 27510760 2025-12-31 fsa:CompletedDevelopmentProjectsMember 27510760 2025-12-31 fsa:AcquiredIntangibleAssetsMember 27510760 2025-12-31 fsa:DevelopmentProjectsInProgressAndPrepaymentsForIntangibleAssetsMember 27510760 2024-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 27510760 2025-01-01 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 27510760 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 27510760 2024-12-31 fsa:OtherInvestmentsMember 27510760 2025-12-31 fsa:OtherInvestmentsMember iso4217:DKK pure 2024-01-01 2024-12-31 2026-06-25 27510760 2026-06-25 Reporting class C, medium-size enterprise KPMG 2100 København Ø Dampfærgevej 28 25578198 Auditor's report on audited financial statements KPMG 25578198 true Annual report Eric Ledroux The Board of Directors and the Executive Board have today discussed and approved the annual report for Interflora Danmark A/S for the financial year 1 January - 31 December 2025. The annual report has been 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 assets, liabilities and financial position at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025. Further, in our opinion, the Management's review gives a fair review of the development in the Company's activities and financial matters, of the results for the year and of the Company's financial position. We recommend that the annual report be approved at the annual general meeting. Brøndby 2026-06-25 Lina Malene Ulrika Adolfsson Eric Ledroux Chairman Nicolas Pastorino Dimitri Borchtch Independent auditor's report To the shareholder of Interflora Danmark A/S Opinion We have audited the financial statements of Interflora Danmark A/S for the financial year 1 January - 31 December 2025, comprising income statement, balance sheet, statement of changes in equity and notes, including 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 Company's assets, liabilities and financial position at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 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 responsibility for the financial statementsManagement 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 that 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 statementsOur objectives are to obtain reasonable assurance as to 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 in Denmark will always detect a material misstatement when it exists. Misstatements may 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 financial statement users made 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 alsoidentify and assess the risks of material misstatement of the company 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 the Management's reviewManagement is responsible for the Management's review.Our opinion on the financial statements does not cover the 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 the Management's review and, in doing so, consider whether the 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 the Management's review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the 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 the Management's review. Copenhagen 2026-06-25 KPMG 25578198 Henrik Y. Jensen State Authorised Public Accountant mne35442 Interflora Danmark A/S Ringager 4, 1. tv DK-2605 Brøndby 27510760 2004-04-13 Brøndby 2025-01-01 2025-12-31 KPMG Statsautoriseret Revisionspartnerselskab Dampfærgevej 28 2100 København Ø 25578198 55502945 56437245 54372489 48409421 73814535 31869356 29985188 28244801 18926871 44703315 340329 -1280093 -1616471 -1609595 -2036605 25110937 22375328 20744305 13487723 33248377 97989203 88659250 79817419 63136975 93866609 89794 982633 241728 1547941 650 39339943 36529006 31153678 20823012 38335289 6620 6610 7980 4560 6300 4010 4120 3900 3300 4080 29 34 34 36 29 The financial ratios have been calculated as follows:Return on equityProfit/loss after tax x 100 / Average equitySolvency ratioEquity at year end x 100 / Total equity and liabilities at year end Principal activities The company's activities primarily involve the dissemination of flower orders and related services aimed at promoting flower sales and business. These activities are conducted in accordance with the management and are designed to enhance the company's market presence and customer engagement. Since 1925, Interflora Danmark A/S has been a trusted partner for Danes in sending heartfelt greetings to their loved ones. As part of a global organization present in over 140 countries, Interflora Danmark A/S delivers personal and unique flowers and gift greetings across national borders, ensuring that special moments are celebrated worldwide. The company is owned by ITDK Holding Aps, which is part of Financière Lys SAS. This group also owns Interflora operations in France, Italy, Spain, Portugal, and Sweden, creating a robust network of floral services across Europe. Development in activities and financial position Profit for the year (including comparison with outlook previously announced) The Company's income statement for 2025 shows a profit of DKK 25,1 mio. as against a profit of DKK 22,4 mio. in 2024. Equity in the Company's balance sheet at 31 December 2025 stood at DKK 39,3 mio. as against DKK 36,5 mio. at 31 December 2024. In 2025, the core business of disseminating flower orders met expectations and remained consistent with the performance in 2024. Gross profit exceeded that of 2024, primarily due to lower operating expenses in 2025. The management considers the net profit for the year to be satisfactory, reflecting the company's resilience and effective cost management strategies. Outlook For 2026, Interflora Danmark A/S anticipates that a gross profit will be in line with the previous year. Interflora Danmark A/S expects a gross profit between DKK 58 mio. and DKK 62 mio., demonstrating our commitment to sustaining profitability and growth. EBITDA is expected to be between DKK 32 mio. and DKK 36 mio. Despite the potential negative impact of the current economic environment on online activity and general economic uncertainty, we are confident in our ability to implement measures that will maintain order volume and earnings. Events after the balance sheet date No significant events have occurred after the end of the financial year that would impact the company's financial position or operations. 55502945 56437245 19120410 22887605 4513179 3564452 31869356 29985188 447938 570695 107609 1850788 32209685 28705095 7098748 6329767 25110937 22375328 6380905 8466040 925000 1000000 0 338840 7305905 9804880 1306832 1913335 85200 85200 19000000 0 293150 286000 19378350 371200 27991087 12089415 34179 309579 26791929 24771460 14733647 14264210 38837 299005 616372 131224 42180785 39465899 27783152 36794357 69998116 76569835 97989203 88659250 5200000 5200000 0 952380 4977106 6867807 4062837 1208819 25100000 22300000 39339943 36529006 1024283 1626535 1024283 1626535 40855489 38356757 2945428 302807 7701015 6222385 5353175 4521077 769870 1100683 57624977 50503709 57624977 50503709 97989203 88659250 5200000 952380 6867807 1208819 22300000 0 0 0 0 -22300000 0 0 -1890701 1901638 25100000 0 -952380 0 952380 0 5200000 0 4977106 4062837 25100000 The annual report of Interflora Danmark A/S for 2025 has been prepared in accordance with the provisions applying to reporting class C medium-sized entities under the Danish Financial Statements Act.The accounting policies used in the preparation of the financial statements are consistent with those of last year. Omission of cash flow statementPursuant to section 86(4) of the Danish Financial Statements Act, no cash flow statement has been prepared. The Company's cash flows are included in the cash flow statement in the consolidated financial statements of Financiere Lys SAS. Foreign currency translation On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses. Receivables, payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses. 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. Cost of sales Cost of sales comprises costs incurred to generate revenue for the year. This item also comprises direct costs for goods for resale, changes to inventory of goods for resale and work performed for own account and capitalised. Other operating income Other operating income comprises items secondary to the activities of the Company, including gains on the disposal of intangible assets and property, plant and equipment as well as payroll refunds. Other external costs Other external costs comprise distribution costs and costs related to sales, sales campaigns, administration, office premises, operating leases, etc. Staff costs Staff costs comprise wages and salaries, including holiday allowance, pension and other social security costs. Financial income and expenses Financial income and expenses comprise interest income and expense, gains and losses on securities, payables and transactions denominated in foreign currencies and income from other equity investments and securities. Tax on profit for the year The Parent Company, ITDK Holding ApS, is subject to the Danish rules on compulsory joint taxation of the Group's Danish subsidiaries. The subsidiaries are included in the joint taxation from the date when they are included in the consolidated financial statements and up to the date when they are excluded from the consolidation. The Parent Company is the administrative company for the joint taxation and accordingly settles all payments of corporation tax to the tax authorities. On payment of joint taxation contributions, current Danish corporation 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 used the losses to reduce their own taxable profit. Tax for the year comprises current corporation tax for the year and changes in deferred tax, including changes in tax rates. The tax expense relating to the profit/loss for the year is recognised in the income statement, and the tax expense relating to amounts directly recognised in equity is recognised directly in equity. Intangible assets Development projects Development costs comprise costs, wages, salaries and amortisation directly and indirectly attributable to development activities. Development projects that are clearly defined and identifiable, where the technical feasibility, sufficient resources and a potential future market or development opportunities are evidenced, and where the Company intends to produce, market or use the project, are recognised as intangible assets provided that the cost can be measured reliably and that there is sufficient assurance that future earnings can cover production costs, selling costs and administrative expenses as well development costs. Other development costs are recognised in the income statement as incurred. Development costs recognised in the balance sheet are measured at cost less accumulated amortisation and impairment losses. Upon completion of development work, development costs are amortised on a straight-line basis over the estimated useful lives. The amortisation period is usually 3-9 years. Patents, licences and trademarks Patents, licences and trademarks are measured at cost less accumulated amortisation and impairment losses. Patents are amortised on a straight-line basis over the remaining life of the patent, licences are amortised over the contract period, however, not exceeding # years, and trademarks are amortised over their expected useful life, but no more than 10 years. Gains and losses on the disposal of intangible assets are determined as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses are recognised in the income statement as other operating income or other operating costs, respectively. Property, plant and equipmentFixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses.Cost comprises the purchase price and any costs directly attributable to the acquisition until the date on which the asset is available for use. Indirect production overheads and borrowing costs are not recognised in cost.Where individual components of an item of property, plant and equipment have different useful lives, they are accounted for as separate items, which are depreciated separately.The basis of depreciation is cost less any projected residual value after the end of the useful life. Depreciation is provided on a straight-line basis over the estimated useful life. The estimated useful lives are as follows:Fixtures and fittings, tools and equipment3-5 yearsThe useful life and residual value are reassessed annually. Changes are treated as accounting estimates, and the effect on depreciation is recognised prospectively. Gains and losses on the disposal of property, plant and equipment are stated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses are recognised in the income statement as other operating income or other operating costs, respectively. Financial assets Other securities and equity investments included in investments are measured at cost. Deposits are recognised at amortised cost. Impairment of fixed assets The carrying amount of intangible assets and property, plant and equipment as well as other securities and equity investments is subject to an annual test for indications of impairment other than the decrease in value reflected by depreciation or amortisation. Impairment tests are conducted of individual assets or groups of assets when there is an indication that they may be impaired. Write-down is made to the recoverable amount if this is lower than the carrying amount. The recoverable amount is the higher of an asset's net selling price and its value in use. The value in use is determined as the present value of the forecast net cash flows from the use of the asset or the group of assets, including forecast net cash flows from the disposal of the asset or the group of assets after the end of the useful life. Inventories Inventories are measured at cost in accordance with the FIFO method. Where the net realisable value is lower than cost, inventories are written down to this lower value. Goods for resale and raw materials and consumables are measured at cost, comprising purchase price plus delivery costs. Finished goods and work in progress are measured at cost, comprising the cost of raw materials, consumables, direct wages and salaries and indirect production overheads. Indirect production overheads comprise indirect materials and wages and salaries as well as the maintenance of depreciation of production machinery, buildings and equipment as well as factory administration and management. Borrowing costs are not included in cost. The net realisable value of inventories is calculated as the sales amount less costs of completion and costs necessary to make the sale and is determined taking into account marketability, obsolescence and development in expected selling price. ReceivablesReceivables are measured at amortised cost.Write-down is made for bad debt losses where there is an objective indication that a receivable has been impaired. If there is an objective indication that an individual receivable has been impaired, write-down is made on an individual basis.Write-downs are calculated as the difference between the carrying amount of receivables and the present value of forecast cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate. Prepayments Prepayments comprise prepayment of costs incurred relating to subsequent financial years. Cash at bank and in hand Cash at bank and in hand comprise cash and bank deposits. EquityReserve for development costsThe reserve for development costs comprises capitalised development costs. The reserve cannot be used for dividends, distribution or to cover losses. If the recognised development costs are sold or in other ways excluded from the Company's operations, the reserve will be dissolved and transferred directly to the distributable reserves under equity. If the recognised development costs are written down, the part of the reserve corresponding to the write-down of the development costs will be reversed. If a write-down of development costs is subsequently reversed, the reserve will be re-established. The reserve is reduced by amortisation of capitalised development costs on an ongoing basis.Dividends The expected dividend payment for the year is disclosed as a separate item under equity. Corporation tax and deferred tax Current tax payable and receivable is recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for tax paid on account. Deferred tax is measured using the balance sheet liability method on all temporary differences between the carrying amount and the tax value of assets and liabilities measured on the planned use of the asset or settlement of the liability, respectively. However, deferred tax is not recognised on temporary differences that arise at the date of acquisition without affecting either profit/loss or taxable income. Deferred tax assets, including the tax value of tax loss carryforwards, are recognised at the expected value of their utilisation within the foreseeable future; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Any deferred net assets are measured at net realisable value. Deferred tax is measured in accordance with the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Changes in deferred tax as a result of changes in tax rates are recognised in the income statement or equity, respectively. Liabilities other than provisionsOther liabilities are measured at amortised cost. Deferred income Deferred income comprises payments received regarding income in subsequent years. 17456580 19734415 1332291 2827999 331539 325191 29 34 Remuneration to the Executive Board: Remuneration to the Executive Board amounts to DKK 1,2 mio. in 2025 (2024: DKK 2,3 mio.). The remuneration is a part of the central costs (management fee) which are recognized as other external costs and not staff costs. In 2024, the split between staff costs and other external costs is not disclosed in accordance with section 98b(3)(ii) of the Danish Financial Statements Act. In addition, the remuneration to the Executive Board do also include remuneration for other functions as the executive Board is also represented as part of the Board of Directors in 2024. It has not been possible to allocate the remuneration reliably and therefore the total amount is disclosed. Remuneration to the Board of Directors: Remuneration to the Board of Directors amount to DKK 1,1 mio. in 2025 (2024: DKK 0,64 mio.). However, the remuneration is a part of the central costs (management fee) which are recognized as other external costs and not staff costs. The directly cost relating to staff costs are settled by another company in the Group and hence, they are not recognized as staff costs in Interflora Danmark A/S. 7701015 6222385 -602252 107382 -15 0 -1890701 -171751 25100000 22300000 1901638 247079 17514311 1650000 338840 1317907 0 0 338840 0 -338840 19171058 1650000 0 -9048271 -650000 0 -3741882 -75000 0 -12790153 -725000 0 6380905 925000 0 Completed development projects Completed development projects consist of digital products. Costs relating to this include salaries and costs directly attributable to development of the digital products for internal and external use. Salaries consist of internal hours based on hours spent on specific projects and a rate based on actual salary including indirectly costs such as rent and general overhead costs. Costs consist of external consultancy services as invoiced. Completed development projects are recorded when the project is ready for use and they meet the general criteria for recognition in accordance with the accoutning policy.Development projects in progress Development projects in progress consist of digital products. Costs relating to this include salaries and costs directly attributable to development of the digital products for internal and external use. Salaries consist of internal hours based on hours spent on specific projects and a rate based on actual salary including indirectly costs such as rent and general overhead costs. Costs consist of external consultancy services as invoiced and capitalized monthly based on the belonging invoices. Development costs are expensed in the year they occur and in accordance with the criteria for capitalizing costs. In line with industry custom, capitalization of development costs does not begin until it is deemed realistic that the digital product can be completed. In addition, there must be sufficient certainty that the future earnings to Interflora Danmark A/S will cover not only production costs and administrative costs, but also the development costs. 6431113 89794 6520907 -4119137 -4119137 -398641 -696297 -1094938 1306832 85200 85200 85200 Prepayments373,599131,224 Accruals242,7730 Prepayments consist of prepaid costs and accruals regarding subsequent year. 1626535 1519153 -602252 107382 Contingent liabilities, including guarantee commitments With ITDK Holding ApS, company reg. no 39899868 as administration company, the Company is subject to the Danish scheme of joint taxation and unlimitedly, jointly, and severally liable, along with the 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. The jointly taxed enterprises' total known net liability to the Danish tax authorities emerges from the financial statements of the administration company. Any subsequent adjustments of corporate taxes or withholding tax, etc., may result in changes in the company's liabilities. Other commitments, including lease obligations The Company has concluded rent and lease agreements with a future payment of DKK 5,824 thousand (2024: DKK 4,807 thousand) with a term of 17-81 months (2024: 18-93 months). Interflora Danmark A/S is part of the consolidated financial statements of Financiere Lys SAS, Société par Actions Simplifée au Capital de 1 1151 Siège social 103, avenue Maréchal de Saxe, Lyon, which is the smallest and largest group, in which the Company is included as a subsidiary. The consolidated financial statements of Financiere Lys SAS can be obtained by contacting the Company at the above address. Related party transactions DKK20252024 Reinvoicing of costs to Parent Company 3,141,587 7,365,168 Reinvoicing of costs to affiliated company 1,726,715 289,801 Reinvoicing of costs from Parent Company 16,580,449 11,178,284 Reinvoicing of costs from affiliated company 2,700,137 1,009,402 Interest income from loan to Parent Company 278,305 0 Receivables from Parent Company relating to long-term loan 19,000,000 0 Receivables from Parent Company relating to intercompany balances 13,894,575 0 Receivables from reinvoicing to Parent Company 637,573 88,716 Receivables from reinvoicing of costs to affiliated company 201,499 144,762 Payables from reinvoicing of costs to Parent Company 2,187,887 540,436 Payables from reinvoicing of costs to affiliated company 531,026 302,807 Payables to Parent Company from intercompany balance 0 17,973,947 For remuneration to Executive Directors and Board of Directors, please refer to disclosure 2 Staff costs. No significant events have occurred after the end of the financial year that would impact the company's financial position or operations.