43369741 2025-01-01 2025-12-31 43369741 2025-01-01 2025-12-31 1 43369741 2025-01-01 2025-12-31 1 43369741 2024-01-01 2024-12-31 43369741 2025-12-31 43369741 2024-12-31 43369741 2024-12-31 fsa:ContributedCapitalMember 43369741 2024-12-31 fsa:RetainedEarningsMember 43369741 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 43369741 2025-12-31 fsa:ContributedCapitalMember 43369741 2025-12-31 fsa:RetainedEarningsMember iso4217:DKK xbrli:pure Annual report 2026-06-18 Signe Marie Sveinbjørnsson The Executive Board has today considered and approved the annual report of Baobab Holding ApS for the financial year 01.01.2025 - 31.12.2025. The annual report is presented in accordance with the Danish Financial Statements Act. In my opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2025 and​of the results of its operations for the financial year 01.01.2025 - 31.12.2025. I believe that the management commentary contains a fair review of the affairs and conditions referred to therein. I consider the preconditions for not auditing the financial statements for the financial year 01.01.2025 - 31.12.2025 to be complied with. I recommend the annual report for adoption at the Annual General Meeting. Frederiksberg Signe Marie Sveinbjørnsson To Management of Baobab Holding ApS We have compiled the financial statements of Baobab Holding ApS for the financial year 01.01.2025 - 31.12.2025based on the Entity’s bookkeeping records and other information Management has ​provided. ​​ ​​These financial statements comprise the income statement, balance sheet, statement of changes in equity, notes and a summary of significant accounting policies. ​​ ​​We performed this compilation engagement in accordance with ISRS 4410, Compilation Engagements. ​​ ​​We have applied our expertise in accounting and financial reporting to assist Management in the preparation ​​and presentation of these financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant provisions of the Danish Public Accountants Act and the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code), including principles of integrity, objectivity, professional competence and due care. ​​These financial statements and the accuracy and completeness of the information used to compile the financial ​​statements are Management’s responsibility. ​​Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy ​​or completeness of the disclosures Management provided to us to compile these financial statements. ​Accordingly, we do not express an audit opinion or a review conclusion about whether the financial statements ​​have been prepared in accordance with the Danish Financial Statements Act. Copenhagen Deloitte Statsautoriseret Revisionspartnerselskab 33963556 Michael Thorø Larsen State Authorised Public Accountant mne35823 Primary activitiesThe objective of the company is to hold equity shares in other companies and to make investments as well as other related business. Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. 10000 12500 -10000 -12500 918780 1167800 1700 4372 63841 78831 846639 1080841 846639 1080841 846639 1080841 3590568 3091611 3590568 3091611 3590568 3091611 198412 158084 198412 158084 3788980 3249695 40000 40000 1897224 1050585 1937224 1090585 1470659 1407083 381097 752027 1851756 2159110 1851756 2159110 3788980 3249695 40000 1050585 1090585 846639 846639 40000 1897224 1937224 1 Other financial expenses2025​DKK2024​DKKFinancial expenses from group enterprises63,57673,292Other interest expenses2655,53963,84178,831 2 Financial assets Investments in participa-​ting interests​DKKCost beginning of year3,091,611Additions498,957Cost end of year3,590,568Carrying amount end of year3,590,568Investments in participating interestsRegistered inCorporate ​​​​formEquity​interest ​​​​%Heartcore Capital A/SCopenhagenA/S12.20Heartcore Capital SLP Web3 ApSCopenhagenApS13.35Heartcore Capital Special Limited Partner V ApSCopenhagenApS12.27Heartcore Capital Special Limited Partner VI ApSCopenhagenApS15.50 3 EmployeesThe Entity has no employees other than the Executive Board. The Executive Officer has not received any remuneration.20252024Average number of full-time employees00 0 0 4 Contingent liabilitiesThe Entity has no guarantees or contingent liabilities. This annual report has been presented in accordance with the provisions of the Danish Financial Statements ​Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year. Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic ​benefits will flow to the Entity, and the value of the asset can be measured reliably. ​​Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a ​result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the ​value of the liability can be measured reliably. ​​On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial ​recognition is effected as described below for each financial statement item. ​​Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm ​or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and ​measurement. ​​Income is recognised in the income statement when earned, whereas costs are recognised by the amounts ​attributable to this financial year. Other external expensesOther external expenses include corporate costs etc. Income from investments in participating interestsIncome from investments in participating interests comprises dividends etc. received from the individual participating interests in the financial year. Other financial incomeOther financial income comprises interest income. Other financial expensesOther financial expenses comprise interest expenses and bank charges etc. Investments in participating interestsInvestments in participating interests are measured at cost. Investments are written down to the lower of recoverable amount and carrying amount. CashCash comprises bank deposits. Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. true 2026-06-18 2026-06-18 true 2024-01-01 2024-12-31 København S 2300 6 Weidekampsgade Frederiksberg Frederiksberg 2000 Regnskabsklasse B Andre erklæringer uden sikkerhed 2025-12-31 2025-01-01 3 Mariendalsvej Baobab Holding ApS 43369741 33963556 2300 København S Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab