45709019 2025-06-17 2025-12-31 45709019 2025-06-17 2025-12-31 2 45709019 2025-06-17 2025-12-31 1 45709019 2025-06-17 2025-12-31 1 45709019 2025-06-17 2025-12-31 2 45709019 2025-06-17 2025-12-31 3 45709019 2025-06-17 2025-12-31 1 45709019 2025-12-31 45709019 2025-06-17 d:ContributedCapitalMember 45709019 2025-06-17 d:RetainedEarningsMember 45709019 2025-06-17 2025-12-31 d:ContributedCapitalMember 45709019 2025-06-17 2025-12-31 d:RetainedEarningsMember 45709019 2025-12-31 d:ContributedCapitalMember 45709019 2025-12-31 d:RetainedEarningsMember 45709019 2025-06-17 d:InvestmentPropertyMember 45709019 2025-06-17 2025-12-31 d:InvestmentPropertyMember 45709019 2025-12-31 d:InvestmentPropertyMember 45709019 2025-06-17 d:LongtermPayablesToGroupEnterprisesMember 45709019 2025-12-31 d:LongtermPayablesToGroupEnterprisesMember iso4217:DKK xbrli:pure false 2025-12-31 2025-06-17 true Revisionspåtegning Rødovre MidCo ApS false Regnskabsklasse B Deloitte 33963556 40766413 Ny Østergade 7, 3. 1101 København K Bjarke Jaster Frederiksen false 2026-06-08 CaseWare-FSR false false Annual report The Board of Directors and executive board have today discussed and approved the annual report of Rødovre Station ApS for the financial year 17 June - 31 December 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 31 December 2025 and of the results of the company's operations for the financial year 17 June - 31 December 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. Bjarke Jaster Frederiksen Director Per Gustav Linus Nilsson Chairman Bjarke Jaster Frederiksen Veerarouthu Partha Sarathy To the shareholder of Rødovre Station ApS Opinion We have audited the financial statements of Rødovre Station ApS for the financial year 17 June - 31 December 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 31 December 2025 and of the results of the company's operations for the financial year 17 June - 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' 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. Copenhagen 2026-06-08 Deloitte Claus Jorch Andersen State Authorised Public Accountant mne33712 Niels Frøland Johansen State Authorised Public Accountant mne50624 Rødovre Station ApS Ny Østergade  7, 3. 1101  København K 45709019 Copenhagen 33963556 Weidekampsgade 6 2300 Købenahvn S Business reviewThe company's main activity is investment in, rental and management of real estate located in Rødovre and related activities. 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. Description of significant changes in the company's business and financial conditionsRødovre Station ApS was incorporated on 17 June 2025. However, the financial figures presented in this annual report reflect a full financial year, as the activities and balances arose from the acquisition of defined real estate business activities through contributions in kind from Rødovre Red-Yellow PropCo P/S as per 1 January 2025. Consequently, reported figures include operations transferred to Rødovre Station ApS with accounting effect from 1 January 2025 and therefore cover a full-year period.   The acquisitions comprised portfolios of investment properties, including all related rights and obligations such as lease agreements, service contracts, and associated liabilities. Rødovre Station ApS acquired assets of DKK 385,842,977 and assumed liabilities of DKK 272,585,111   The transactions were executed as capital increases, whereby Rødovre Red-Yellow PropCo P/S contributed the net assets in exchange for shares in Rødovre Station ApS. From the acquisition date, Rødovre Station ApS has assumed all rights and obligations relating to the acquired activities, including the collection of rental income and responsibility for operating and service agreements. 17818360 60264379 78082739 346 8719819 69363266 3237974 66125292 66125292 451000000 451000000 451000000 1014054 4268652 273841 247004 110101 5913652 83763 5997415 456997415 401000 178983159 179384159 3484978 3484978 260816852 260816852 746723 2025643 2973207 1534194 6031659 13311426 274128278 456997415 0 0 400000 0 1000 112857867 66125292 401000 178983159 0 8719819 8719819 -247004 3484978 0 390735621 390735621 0 60264379 60264379 451000000 0 261563575 746723 257635329 Rødovre Red-Yellow PropCo P/S, Rødovre Station ApS and Rødovre Tower ApS have jointly provided collateral for the mortgage debt of Rødovre Red-Yellow PropCo P/S. Land and buildings at a total carrying amount of DKK 1.572.000 thousand at 31 December 2025 have been provided as security for mortgage debt totalling DKK 882.511 thousand.Of the total mortgage debt pool, the share attributable to Rødovre Station ApS is secured by land and buildings with a carrying amount of DKK 451.000 thousand and relates to mortgage debt amounting to DKK 261.564 thousand. Joint taxationThe company is jointly taxed with its parent company, Rødovre Midco ApS (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. The annual report of Rødovre Station ApS for 2025 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 annual report for 2025 is pre­sen­ted in DKKAs 2025 is the company's first reporting period, no comparatives have been presented. 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. Business combinations effected through contributions in kind are accounted for using the acquisition method. The acquired entity recognizes identifiable assets and liabilities at their fair values at the acquisition date. Any difference between the agreed consideration and the fair value of the identifiable net assets is recognized as goodwill or negative goodwill. Goodwill is amortized on a systematic basis over its estimated useful economic life, determined based on a specific assessment. Costs directly attributable to the business combination are recognized in the income statement as incurred. Comparative figures are not restated. Gross profit reflects an aggregation of revenue less cost regarding investment properties and other external expenses. Rent income comprises income from the lease of property and from overhead costs collected and is recognised in the income statement for the priod relating to the lease payment. Income from the heating account is recognised in the statement of financial position as a balance. Other external expenses include expenses related to sale, advertising, administration, premises, bad debts, etc. Costs concerning investment properties comprise operating costs, repair and maintenance costs, taxes, charges, and other costs. Value adjustments of investment property comprise the year's changes in the fair value of investment property. 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, realised and unrealised capital/exchange gains and losses on securities, liabilities and foreign currency transactions, amortisation of financial assets and liabilities and surcharges 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. Invest­ment pro­per­tiesOn acquisition, invest­ment pro­per­ties is measured at cost, comprising the purchase price, including purchase costs.On subsequent recognition, invest­ment pro­per­ties are measured at fair value. Value adjustments of invest­ment pro­per­ties are recognised in the income statement.   Investments are measured individually on the basis of a return-based cash flow model based on expected future net cash flows over a period. Fair value measurement is made on the basis of estimated lease income and expected operating costs, including scheduled maintenance.   Costs adding new or improved qualities to an investment property compared to its condition at the time of acquisition, thereby improving the future return on the property, are added to the cost as an improvement. Costs which do not add new or improved qualities to an investment property are recognized in the income statement under the item ”Costs concerning investment property”.   Like other property, plant, and equipment except for land, investment property has a limited economic life. The impairment taking place concurrently with the ageing of the investment property is reflected in the continuing measurement of the investment property at fair value.   Value adjustments are recognized in the income statement under the item ”Value adjustments of property”.  Receivables are measured at amortised cost, which usually corresponds to the nominal value. The value is reduced by write-downs for expected bad debts. Impairment of accounts receivables past due is established on individual assessment of receivables. Prepayments recognised under 'Current assets' comprises expenses incurred concerning subsequent financial years. Cash and cash equivalents comprise deposits at banks. 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.The company and all its Danish group entities are taxed on a joint basis. The current income tax charge is allocated between the jointly taxed entities relative to their taxable income. Tax losses are allocated based on the full absorption method. The jointly taxed entities are eligible for the Danish Tax Prepayment Scheme.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.Adjustment is made to deferred tax resulting from elimination of unrealised intra-group profits and losses.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. Financial liabilities are recognised on the raising of the loan at the proceeds received net of transaction costs incurred. On subsequent recognition, the financial liabilities are measured at amortised cost, corresponding to the capitalised value, using the effective interest method. Accordingly, the difference between the net proceeds and the nominal value is recognised in the income statement over the term of the loan.Other liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value. Deferred income recognised under 'Current liabilities' comprises payments received concerning income in subsequent financial years. 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’.Receivables and 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.