43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember 1 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember 1 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember 2 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember 3 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember 1 43694472 2024-01-01 2024-12-31 cmn:ConsolidatedMember 43694472 2025-12-31 cmn:ConsolidatedMember 43694472 2024-12-31 cmn:ConsolidatedMember 43694472 2024-12-31 cmn:ConsolidatedMember fsa:ContributedCapitalMember 43694472 2024-12-31 cmn:ConsolidatedMember fsa:SharePremiumMember 43694472 2024-12-31 cmn:ConsolidatedMember fsa:ReserveForCurrentValueAdjustmentsOfCurrencyGainsMember 43694472 2024-12-31 cmn:ConsolidatedMember fsa:RetainedEarningsMember 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember fsa:ContributedCapitalMember 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember fsa:SharePremiumMember 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember fsa:RetainedEarningsMember 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember fsa:ReserveForCurrentValueAdjustmentsOfCurrencyGainsMember 43694472 2025-12-31 cmn:ConsolidatedMember fsa:ContributedCapitalMember 43694472 2025-12-31 cmn:ConsolidatedMember fsa:SharePremiumMember 43694472 2025-12-31 cmn:ConsolidatedMember fsa:ReserveForCurrentValueAdjustmentsOfCurrencyGainsMember 43694472 2025-12-31 cmn:ConsolidatedMember fsa:RetainedEarningsMember 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember 1 43694472 2024-01-01 2024-12-31 cmn:ConsolidatedMember 1 43694472 2023-12-31 cmn:ConsolidatedMember 43694472 2025-01-01 2025-12-31 cmn:ConsolidatedMember fsa:ShorttermDeferredIncomeMember 43694472 2025-01-01 2025-12-31 43694472 2024-01-01 2024-12-31 43694472 2025-12-31 43694472 2024-12-31 43694472 2024-12-31 fsa:ContributedCapitalMember 43694472 2024-12-31 fsa:SharePremiumMember 43694472 2024-12-31 fsa:RetainedEarningsMember 43694472 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 43694472 2025-01-01 2025-12-31 fsa:SharePremiumMember 43694472 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 43694472 2025-12-31 fsa:ContributedCapitalMember 43694472 2025-12-31 fsa:SharePremiumMember 43694472 2025-12-31 fsa:RetainedEarningsMember iso4217:DKK xbrli:pure Annual report 2026-06-18 Bjarne Aarup Andersen The Board of Directors and the Executive Board have today considered and approved the annual report of Impact​One 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 our opinion, the consolidated financial statements and the parent financial statements give a true and fair view​of the Group's and the Parent's financial position at 31.12.2025and of the results of their operations and the consolidated cash flows for the financial year01.01.2025 -31.12.2025. We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. We recommend the annual report for adoption at the Annual General Meeting. Aars Bjarne Aarup Andersen Nina Kristine Hoffmann von Holten Stephan Willy Maria Derksen Merete Søby To the shareholders of Impact One ApS We have audited the consolidated financial statements and the parent financial statements of Impact One ApSfor the financial year 01.01.2025 - 31.12.2025, which comprise the income statement, balance sheet, statement of​changes in equity and notes, including a summary of significant accounting policies, for the Group as well as the Parent, and the consolidated cash flow statement. The consolidated financial statements and the parent financial statements are prepared in accordance with the Danish Financial Statements Act. ​​ ​​In our opinion, the consolidated financial statements and the parent financial statements give a true and fair view​of the Group's and the Parent's financial position at 31.12.2025 and of the results of their operations and the consolidated cash flows for the financial year 01.01.2025 - 31.12.2025 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and 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 consolidated financial statements and the parent financial statements" section of this auditor’s report. We are independent of the Group 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 is responsible for the preparation of consolidated financial statements and parent 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 consolidated financial statements and parent financial statements that are free from material misstatement, ​whether due to fraud or error. ​​ ​​In preparing the consolidated financial statements and the parent financial statements, Management is responsible for assessing the Group's and the Entity’s ability to continue ​as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going ​concern basis of accounting in preparing the​consolidated financial statements and the parent financial statements unless Management either intends to liquidate ​the Entity or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance about whether the consolidated financial statements and the parent 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 consolidated financial statements and parent 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 consolidated financial statements and the parent 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 Group's and the Entity’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 consolidated financial statements and the parent 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 Group's and the Entity’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 consolidated financial statements and the parent 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 ​Group and the ​Entity to cease to continue as a going concern.​Evaluate the overall presentation, structure and content of the consolidated financial statements and the parent financial statements, including the disclosures ​in the notes, and whether the consolidated financial statements and the parent financial statements represent the underlying transactions and ​​events in a manner that gives a true and fair view.Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming an opinion on the consolidated financial statements and the parent financial statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely responsible for our audit opinion.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. Management is responsible for the management commentary. ​​ ​​Our opinion on the consolidated financial statements and the parent financial statements does not cover the management commentary, and we do not express ​any form of assurance conclusion thereon. ​​ ​​In connection with our audit of the consolidated financial statements and the parent financial statements, our responsibility is to read the management ​commentary and, in doing so, consider whether the management commentary is materially inconsistent with ​the consolidated financial statements and the parent financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. ​​​Moreover, it is our responsibility to consider whether the management commentary provides the information ​​required by relevant law and regulations.Based on the work we have performed, we conclude that the management commentary is in accordance with ​​the consolidated financial statements and the parent financial statements and has been prepared in accordance with the requirements in the relevant law and regulations. We did not identify any material misstatement of the management commentary. Aalborg Deloitte Statsautoriseret Revisionspartnerselskab 33963556 Jakob Olesen State Authorised Public Accountant mne34492 Financial highlights2025​DKK'0002024​DKK'0002022/23​DKK'000Key figuresGross profit/loss147,07596,99750,960Operating profit/loss26,374(51,206)(21,937)Net financials(10,406)(11,216)(15,897)Profit/loss for the year(1,334)(70,362)(36,747)Balance sheet total525,921425,407490,896Investments in property, plant and equipment3,3827853,869Equity269,756254,916319,363Cash flows from operating activities9,352(6,939)16,364Cash flows from investing activities(41,522)(11,009)(428,754)Cash flows from financing activities37,362(9,349)448,724RatiosReturn on equity (%) (0.51)(24.50)(11.51)Equity ratio (%)51.2959.9265.06The financial period 2022/23 consists of 13 months.Financial highlights are defined and calculated in accordance with the current version of "Recommendations & ​Ratios" issued by the CFA Society Denmark.Return on equity (%):Profit/loss for the year* 100​Average equityEquity ratio (%) :​Equity * 100 ​​​Balance sheet total Primary activitiesImpact One ApS' primary activities are investment in the Renewtech group through Impact Two ApS.​Renewtech is a circular IT group providing refurbished IT enterprise hardware, including servers, storage, networking hardware and related accessories. The group purchases used enterprise hardware from suppliers. The hardware is carefully sorted and tested, data is securely erased, products are refurbished, cleaned and stored ​in the warehouse and ultimately sold to B2B customers worldwide. The Renewtech group contributes to the circular economy by extending the life of IT hardware, reducing the CO2 footprint and minimizing e-waste. Development in activities and financesMarket Development​The market for circular IT hardware experienced sustained increased demand throughout 2025, supported by ​strong demand for artificial intelligence solutions, favorable regulatory developments, continued demand for ​sustainable business practices, and enterprises' need to reduce their overall IT costs. These factors have driven a ​preference for refurbished IT equipment, which is offered at attractive prices compared to new hardware and ​extends the useful life of existing hardware assets. ​​The rising market demand, combined with a strategic expansion of our product portfolio and acquisitions, has ​resulted in strong top-line and earnings growth in 2025. ​​Acquisitions ​During 2025, we increased our strategic focus on mergers and acquisitions. The strategy is to strengthen ​Renewtech's local presence throughout Europe and thereby establish closer proximity to the attractive end-customer base. ​​In May 2025, Renewtech successfully completed the acquisition of the Italian company Eco-réte, thereby ​strengthening its position in the Italian market. The acquisition of Eco-réte represents an excellent strategic fit ​with the acquisition of the Italian company SE.CO s.r.l. in 2024, as they serve different market segments and ​position us as one of the leading players in the Italian market. ​​In November 2025, Renewtech completed its largest acquisition to date with the purchase of Intelligence Servers. ​Intelligence Servers is one of the leading players in the English market and thereby provides Renewtech with an ​exceptionally strong platform to generate growth in one of Europe's largest markets for refurbished ​infrastructure equipment. ​​Development in financial statement items ​Gross profit and result for the year: The full year effect of the acquisitions of Se.Co in 2024 and the acqusitions ​mentioned above have significantly impacted the financial statement. The gross profit is positively impacted by ​market development. Furthermore there have been no indicators of impairment identified in 2025 compared to ​the one off impairment writedown in 2024 of 40 million DKK. ​​Inventory: Acquisitions of Intelligent servers has incrased the inventory with 25 million DKK. Management have ​strategic choosen to build inventory to ensure available supply for the groups customers while the increase ​demand after IT solutions have increased prices of inventory as of year end. Profit/loss for the year in relation to expected developmentsThe profit for the year ending ended at (1) million DKK which are in line against expectations of (10) – 0 million ​DKK. The result of 2025 is affected by significant one-off costs relating to mergers and acquisition transaction costs, clean-up costs related to Renewtech B.V. and one-off costs associated with warehouse consolidation. Taken​these into considerations, the profit for the year would have ended above the expectations following the market development referenced above OutlookThe market conditions are expected to remain favorable. An increased activity level and a net income in the amount of 40 - 65 million DKK is expected for 2026. Use of financial instrumentsForeing currency risks : ​More than 80% of the turnover is invoiced in foreign currency which means that profit cashflows and equity are affected by the exchange rate development for a number of currencies. It is the company's policy to hedge the most significant commercial currency risks. Hedging takes place primarily via ongoing hedging of receivables in USD, GBP, CHF and EUR with corresponding debts and draws on currency accounts. The company does not enter into speculative currency transactions. ​​Interest rate risks : ​As a result of the group's solvency and financial preparedness moderate changes in the interest rate level will not have any significant direct effect on the earnings. Interest rate risks are therefore not hedged. The group's interest-bearing debt to credit institutions amounts to approx. DKK 128 million. Loan agreements are with variable interest rates, which means that profit/loss, cash flows and equity are affected by the development in the​interest rate level. ​The management continuously monitors the development of interest rate ​​Price risks : ​To minimize the price risks, we follow the price level in market very closely and make all necessary adjustments to ​our price settings through strict and timely product and inventory management. 147075000 96997000 78632000 66314000 42069000 81889000 26374000 -51206000 57000 881000 10463000 12097000 15968000 -62422000 17302000 7940000 -1334000 -70362000 7265000 730000 0 1802000 337000 394000 290004000 294079000 297606000 297005000 4129000 2279000 261000 332000 4390000 2611000 301996000 299616000 136712000 66257000 3359000 206000 140071000 66463000 62479000 43064000 3878000 2964000 196000 1346000 3072000 2917000 69625000 50291000 14229000 9037000 223925000 125791000 525921000 425407000 186332000 179732000 -34000 0 83458000 75184000 269756000 254916000 531000 357000 531000 357000 132672000 113008000 0 74000 132672000 113082000 15000000 15000000 16490000 16000 5339000 1988000 54575000 24481000 9109000 1102000 22449000 14372000 0 93000 122962000 57052000 255634000 170134000 525921000 425407000 179732000 0 0 75184000 254916000 1081000 1163000 0 2244000 5519000 8445000 0 13964000 -9608000 9608000 0 0 0 34000 0 34000 0 -1334000 -1334000 186332000 0 -34000 83458000 269756000 42069000 81889000 -38564000 -13667000 29879000 17016000 57000 881000 10080000 12097000 10504000 12739000 9352000 -6939000 6160000 3250000 772000 637000 34590000 7122000 -41522000 -11009000 32170000 17948000 33944000 0 15000000 9000000 2244000 0 Change in short term debt 16174000 -349000 37362000 -9349000 5192000 -27297000 9037000 36334000 14229000 9037000 1 Unusual circumstancesProfit for 2024 was negative affected by impairment loss of DKK 40,000k on goodwill related to Renewtech B.V. No impairment is recognised in 2025. 2 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. 3 Staff costs2025​DKK'0002024​DKK'000Wages and salaries70,67759,148Pension costs4,5383,928Other social security costs3,4173,23878,63266,314Average number of full-time employees120101Management has not received any remuneration in the financial year. 120 101 4 Depreciation, amortisation and impairment losses2025​DKK'0002024​DKK'000Amortisation of intangible assets40,46640,530Impairment losses on intangible assets040,000Depreciation on property, plant and equipment1,6031,35942,06981,889 5 Other financial income2025​DKK'0002024​DKK'000Other interest income5788157881 6 Other financial expenses2025​DKK'0002024​DKK'000Other interest expenses9,11311,565Exchange rate adjustments3510Other financial expenses99953210,46312,097 7 Tax on profit/loss for the year2025​DKK'0002024​DKK'000Current tax13,7937,251Change in deferred tax174689Adjustment concerning previous years3,335017,3027,940 8 Proposed distribution of profit/loss2025​DKK'0002024​DKK'000Retained earnings(1,334)(70,362)(1,334)(70,362) -1334000 -70362000 -1334000 -70362000 9 Intangible assetsAcquired intangible assets​DKK'000Acquired licences ​DKK'000Acquired trademarks ​DKK'000Goodwill​DKK'000Cost beginning of year7302,237402406,496Addition through business combinations etc6890028,988Additions6,1470136,349Disposals0(2,237)00Cost end of year7,5660415441,833Amortisation and impairment losses beginning of year0(435)(8)(112,417)Amortisation for the year(301)(683)(70)(39,412)Reversal regarding disposals01,11800Amortisation and impairment losses end of year(301)0(78)(151,829)Carrying amount end of year7,2650337290,004Amortisation on disposals amounts to DKK 683k. 10 Property, plant and equipmentOther fixtures and fittings, tools and equipment​DKK'000Leasehold improvements ​DKK'000Cost beginning of year7,755448Addition through business combinations etc2,6100Additions74824Disposals(2,071)0Cost end of year9,042472Depreciation and impairment losses beginning of year(5,476)(116)Depreciation for the year(1,508)(95)Reversal regarding disposals2,0710Depreciation and impairment losses end of year(4,913)(211)Carrying amount end of year4,129261Amortisation on disposals amounts to DKK 219k. 11 PrepaymentsPrepayments comprise prepaid expenses for subscriptions, licenses, insurance, etc. 12 Contributed capitalNumberPar value​DKK'000Nominal ​​value​DKK'000Recorded par ​value​DKK'000AA-shares30,915,3330.00130,91530,915A-shares101,781,8070.001101,781101,781B-shares53,634,7290.00153,63553,635186,331,869186,331186,331The different shares hold preemption-right within its own share class and differentiated economic rights to dividend.In the financial year, new shares have been issued for 4.817.923 A-shares with a nominal value of DKK 1 and 1.781.971 B-shares with a nominal value of DKK 1. 13 Deferred tax2025​DKK'0002024​DKK'000Intangible assets4410Property, plant and equipment271(54)Receivables294429Liabilities other than provisions(78)(28)Deferred tax531357​ ​​Changes during the year2025​DKK'0002024​DKK'000Beginning of year357(332)Recognised in the income statement174689End of year531357 14 Non-current liabilities other than provisionsDue within 12 ​months​2025​DKK'000Due within 12 ​​months​2024​DKK'000Due after ​more than 12 ​months​2025​DKK'000Debt to other credit institutions15,00015,000132,67215,00015,000132,672Outstanding after 5 years​ amounts to 0 DKK. 15 Deferred incomeDeferred income comprise revenue to be recognised in the following periods. 16 Changes in working capital2025​DKK'0002024​DKK'000Increase/decrease in inventories(49,440)(15,253)Increase/decrease in receivables(11,328)(3,970)Increase/decrease in trade payables etc.22,2045,556(38,564)(13,667) 17 Other unrecognised commitmentsUnrecognised rental and lease commitments2025​DKK'0002024​DKK'000Total liabilities under lease rental or agreements until maturity 18,25916,671The amount relates to rent of leasehold property until 2035.The Group has no significant unrecognised commitments to be settled after the balance sheet date. 18 Assets charged and collateralThe group has provided a company charge in Renewtech ApS of DKK 15,000k related to inventories and trade receivables. The carrying amount of charged assets is DKK 141,566k. ​The group has provided a company charge in Impact One as security for bank engagement. 19 Non-arm’s length related party transactionsOnly non-arm's length related party transactions are disclosed in the annual report.​ No such transactions were conducted during the financial year. 20 SubsidiariesRegistered inCorporate ​​formOwnership ​​​%Impact Two ApSDenmarkApS100.00Renewtech ApS*DenmarkApS100.00Renewtech SAS**FranceSAS100.00Renewtech GmbH**SwitzerlandGmbH100.00Renewtech B.V.***The NetherlandsBV100.00Renewtech Spain S.l.***SpainSL100.00SE.CO S.r.l.**ItalyS.r.l.100.00Renewtech UK Holding Limited**United ​KingdomLLP100.00Intelligent Servers Limited ****United ​KingdomLLP100.00Intelligent Hosting Servers Limited*****United ​KingdomLLP100.00Intelligent Servers B.V.*****The ​NetherlandsLLP100.00*Owned through Impact Two ApS​**Owned through Renewtech ApS ​***Owned through Renewtech GmbH.​**** Owned through Renewtech UK Holding Limited ​*****Owned through Intelligent Servers Limited -342000 -137000 -2137000 -71221000 1451000 1259000 -1028000 -70099000 306000 263000 -1334000 -70362000 223601000 225772000 223601000 225772000 223601000 225772000 46545000 29473000 13569000 3426000 60114000 32899000 18000 35000 60132000 32934000 283733000 258706000 186332000 179732000 83424000 75184000 269756000 254916000 61000 60000 40000 40000 12225000 898000 1651000 2792000 13977000 3790000 13977000 3790000 283733000 258706000 179732000 0 75184000 254916000 1081000 1163000 0 2244000 5519000 8445000 0 13964000 -9608000 9608000 0 0 0 34000 34000 -1334000 -1334000 186332000 0 83424000 269756000 1 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. 2 Other financial income2025​DKK'0002024​DKK'000Financial income from group enterprises1,4501,250Other interest income191,4511,259 3 Proposed distribution of profit and loss2025​DKK'0002024​DKK'000Retained earnings(1,334)(70,362)(1,334)(70,362) -1334000 -70362000 -1334000 -70362000 4 Financial assetsInvestments in group enterprises​DKK'000Cost beginning of year333,722Cost end of year333,722Impairment losses beginning of year(107,950)Exchange rate adjustments(34)Share of profit/loss for the year(2,137)Impairment losses end of year(110,121)Carrying amount end of year223,601A specification of investments in subsidiaries is evident from the notes to the consolidated financial statements. 5 EmployeesThe Entity has no employees other than the Executive Board. Management has not received any ​remuneration.20252024Average number of full-time employees00 0 0 6 Other unrecognised commitmentsThe entity has no significant unrecognised commitments to be settled after the balance sheet date. 7 Contingent liabilitiesThe Entity serves as the administration company in a Danish joint taxation arrangement. According to the joint ​taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable for income taxes etc. for the ​jointly taxed entities, and also for obligations, if any, relating to the withholding of tax on interest, royalties and ​dividends for these entities. 8 Assets charged and collateralShares in Impact Two nominally DKK 258.794k are provided as security for bank debt.​Company charge have been provided as security for bank engagement. ​ Self-indebted for DKK 120,000k against Impact Two for bank debt.​Self-indebted for DKK 40.312k against Renewtech ApS for bank debt. 9 Non-arm’s length related party transactionsOnly non-arm's length related party transactions are disclosed in the annual report.​ No such transactions were conducted during the financial year. This annual report has been prepared in accordance with the provisions of the Danish Financial Statements Act ​governing reporting class C enterprises (medium).The accounting policies applied to these consolidated financial statements and parent 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. Consolidated financial statementsThe consolidated financial statements comprise the Parent and the group enterprises (subsidiaries) that are controlled by the Parent. Control is achieved by the Parent, either directly or indirectly, holding more than 50% of the voting rights or in any other way possibly or actually exercising controlling influence. Basis of consolidationThe consolidated financial statements are prepared on the basis of the financial statements of the Parent and its subsidiaries. The consolidated financial statements are prepared by combining uniform items. On consolidation, intra-group income and expenses, intra-group accounts and dividends as well as profits and losses on transactions between the consolidated enterprises are eliminated. The financial statements used for consolidation have been prepared applying the Group’s accounting policies.​​Subsidiaries’ financial statement items are recognised in full in the consolidated financial statements.​​Investments in subsidiaries are offset at the pro rata share of such subsidiaries’ net assets at the acquisition date,​with net assets having been calculated at fair value. Business combinationsNewly acquired or newly established enterprises are recognised in the financial statements from the time ​​of acquiring or establishing such enterprises. Divested or wound-up enterprises are recognised in the income ​​statement up to the time of their divestment or winding-up. ​​ ​​The purchase method is applied at the acquisition of new enterprises, under which identifiable assets and ​​liabilities of these enterprises are measured at fair value at the acquisition date. Provisions for costs of ​restructuring of the enterprise acquired are only made in so far as such restructuring was decided by the ​​enterprise acquired prior to acquisition. Allowance is made for the tax effect of restatements.Positive differences in amount (goodwill) between cost of the acquired share and fair value of the assets ​​and liabilities taken over are recognised in intangible assets, and they are amortised systematically over ​​the income statement based on an individual assessment of their useful lives. If the useful life cannot be ​​estimated reliably, it is fixed at 10 years. Useful life is reassessed annually. Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction ​date. Receivables, payables and other monetary items denominated in foreign currencies that have not been ​settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange ​differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the ​rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses. ​Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been ​purchased in foreign currencies are translated using historical rates. ​​ ​​When recognising foreign subsidiaries and associates that are independent entities, the income statements ​​are translated at average exchange rates for the months that do not significantly deviate from the rates at the ​transaction date. Balance sheet items are translated using the exchange rates at the balance sheet date. Goodwill​​is considered belonging to the independent foreign entity and is translated using the exchange rate at the ​balance sheet date. Exchange differences arising out of the translation of foreign subsidiaries’ equity at the ​beginning of the year at the balance sheet date exchange rates and out of the translation of income statements ​from average rates to the exchange rates at the balance sheet date are recognised directly in the translation reserve in equity. ​​ ​​Exchange adjustments of outstanding accounts with independent foreign subsidiaries, which are considered ​​part of the total investment in the subsidiary in question, are recognised directly in the translation reserve in equity. Public grantsPublic grants are recognised when a final commitment has been received from the grantor and it is probable that ​​the conditions of the grant will be fulfilled. Grants are recognised as income in the income statement as earned. Gross profit or lossGross profit or loss comprises revenue, changes in inventories of finisihed goods and work in progress, own work ​capitalised, other operating income, costs of sales and external expenses. RevenueRevenue from the sale of manufactured goods and goods for resale is recognised in the income statement ​​when delivery is made and risk has passed to the buyer. Revenue is recognised net of VAT, duties and sales ​discounts and is measured at fair value of the consideration fixed. Changes in inventories of finished goods and work in progressChanges in inventories of finished goods and work in progress comprise decreases or increases for the financial year in inventories of finished goods. This item includes normal writedowns of such inventories. Own work capitalisedOwn work capitalised comprises staff costs and other costs incurred in the financial year and recognised in ​​cost for proprietary intangible assets and property, plant and equipment. Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary ​​activities, including profit from the sale of property, plant and equipment, and salary refunds . Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for normal inventory ​writedowns. Other external expensesOther external expenses include expenses relating to the Entity’s normal activities, including expenses for ​​premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of ​​receivables recognised in current assets. Staff costsStaff costs comprise wages and salaries, and social security contributions, pension contributions, etc . for entity ​staff. Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating toproperty, plant and equipment and intangible ​​assets comprise depreciation, amortisation and impairment losses for the financial year and depreciation of goodwill in the consolidated financial statements. Income from investments in group enterprisesIncome from investments in group enterprises comprises the pro rata share of the individual enterprises’ ​profit/loss after full elimination of intra-group profits or losses and depreciation of goodwill in the parent ​company financial statements. Other financial incomeOther financial income comprises interest income, including ​interest income on receivables from group enterprises, net capital or exchange gains on transactions in foreign currencies, amortisation of financial assets, and tax relief under the Danish ​Tax Prepayment Scheme etc. Other financial expensesOther financial expenses compriseinterest expenses, including interest expenses on payables to group ​​enterprises, net capital or exchange losses on transactions in foreign currencies, ​amortisation of financial liabilities, and tax surcharge under the Danish Tax Prepayment Scheme etc. Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the ​​income statement by the portion attributable to the profit for the year and recognised directly in equity by the ​portion attributable to entries directly in equity.The Parent is jointly taxed with all of its Danish group enterprises. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses). GoodwillGoodwill is the positive difference between cost and fair value of assets and liabilities arising from acquisitions. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by ​Management for each business area. For goodwill, useful life has been determined based on an assessment ofwhether the enterprises are strategically acquired enterprises with a strong market position and a long-term earnings profile and whether the amount of goodwill includes intangible resources of a temporary nature that cannot be separated and recognised as separate assets. Useful lives are reassessed annually. The amortisation periods used are 5-10years. ​​ ​​Goodwill is written down to the lower of recoverable amount and carrying amount.Intellectual property rights etc.Intellectual property rights etc. comprise acquired intellectual property rights.Intellectual property rights acquired are measured at cost less accumulated amortisation. Patents are amortised ​on a straight-line basis over their remaining duration, and licences are amortised on a straight-line basis over the term of the agreement.​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount. Property, plant and equipmentOther fixtures and fittings, tools and equipment are ​measured at ​cost less accumulated depreciation and impairment losses. ​​​ ​​​Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the ​​asset until the time when it is ready to be put into operation.​​ ​​ ​​The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line ​depreciation is made on the basis of the following estimated useful lives of the assets:Useful life Other fixtures and fittings, tools and equipment3-5Leasehold improvements5​Estimated useful lives and residual values are reassessed annually. ​​ ​Items of property, plant and equipment are written down to the lower of recoverable amount and carrying ​​amount. Investments in group enterprisesInvestments in group enterprises are recognised and measured in the parent financial statements according to the equity method. This means that investments are measured at the pro rata share of the enterprises’ equity value plus unamortised goodwill and plus or minus unrealised intra-group profits or losses. Reference is made to the above section on business combinations for more details about the accounting policies applied to acquisitions of investments in group enterprises. ​​ ​Upon distribution of profit or loss, net revaluation of investments in group enterprises is transferred to the reserve for net revaluation according to the equity method in equity. ​​ ​Goodwill is the difference between cost of investments and fair value of the pro rata share of assets and liabilities arising from acquisitions. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by Management for each business area. For goodwill, useful life has been determined based on an assessment of whether the enterprises are strategically acquired enterprises with a strong market position and a long-term earnings profile and whether the amount of goodwill includes intangible resources of a temporary nature that cannot be separated and recognised as separate assets. Useful lives are reassessed annually. The amortisation periods used are 5-10 years. InventoriesInventories are measured at the lower of cost using the weighted average method and net realisable value.​ ​​Cost consists of purchase price plus delivery costs. Cost of manufactured goods and work in progress consists ​​of costs of raw materials, consumables, direct labour costs and indirect production costs. ​​The net realisable value of inventories is calculated as the estimated selling price less completion costs and ​​costs incurred to execute sale. ReceivablesReceivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and ​​doubtful debts. Tax payable or receivableCurrent tax payable or receivable is recognised in the balance sheet, stated as tax computed on this year's ​​taxable income, adjusted for prepaid tax.Joint taxation contributions payable or receivable Current joint taxation contributions payable or receivable are recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement. PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at ​​cost. CashCash comprises bank deposits. Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of ​assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. ​However, no deferred tax is recognised for amortisation of goodwill disallowed for tax purposes and temporary ​differences arising at the date of acquisition that do not result from a business combination and that do not have ​any effect on profit or loss or on taxable income. ​​ ​​Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at ​​their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets. Operating leasesLease payments on operating leases are recognised on a straight-line basis in the income statement over the ​term of the lease. Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.​​Debt to other credit insitutions ​At the time of borrowing, debt to other credit insitutions is measured at cost which corresponds to the proceeds received less transaction costs incurred. Debt is subsequently measured at amortised cost. This means that the difference between the proceeds at the time of borrowing and the nominal repayable amount of the loan is recognised in the income statement as a financial expense over the term of the loan applying the effective interest method. Prepayments received from customersPrepayments received from customers comprise amounts received from customers prior to delivery of the ​​goods agreed or completion of the service agreed. Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income ​​is measured at cost. Cash flow statementThe cash flow statement shows cash flows from operating, investing and financing activities, and cash ​​and cash equivalents at the beginning and the end of the financial year. ​​ ​​Cash flows from operating activities are presented using the indirect method and calculated as the operating ​​profit/loss adjusted for non-cash operating items, working capital changes, and financial income, financial expenses and income tax paid. ​​ ​​Cash flows from investing activities comprise payments in connection with acquisition of ​ enterprises, activities and fixed asset investments, and purchase, development, improvement and sale, ​etc. of intangible assets and property, plant and equipment. ​​ ​​Cash flows from financing activities comprise changes in the size or composition of the contributed capital ​​and related costs, and the raising of loans, repayments of interest-bearing debt and payment of dividend. ​​ ​​Cash and cash equivalents comprise cash. The cash flow statement shows cash flows from operating, investing and financing activities, and cash ​​and cash equivalents at the beginning and the end of the financial year. ​​ ​​Cash flows from operating activities are presented using the indirect method and calculated as the operating ​​profit/loss adjusted for non-cash operating items, working capital changes, and financial income, financial expenses and income tax paid. ​​ ​​Cash flows from investing activities comprise payments in connection with acquisition of ​ enterprises, activities and fixed asset investments, and purchase, development, improvement and sale, ​etc. of intangible assets and property, plant and equipment. ​​ ​​Cash flows from financing activities comprise changes in the size or composition of the contributed capital ​​and related costs, and the raising of loans, repayments of interest-bearing debt and payment of dividend. ​​ ​​Cash and cash equivalents comprise cash. true Grundlag for konklusion Konklusion 2026-06-18 2026-06-18 Revisionspåtegning Regnskabsklasse C, mellemstor virksomhed 2024-12-31 2024-01-01 33963556 Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab 2300 København S 2025-12-31 2025-01-01 Impact One ApS 43694472 Aalborg 9000 26, 4. sal Østre Havnepromenade Vesthimmerlands Aars 9600 12 Messevej