41462124 2025-01-01 2025-12-31 41462124 2025-01-01 2025-12-31 1 41462124 2025-01-01 2025-12-31 1 41462124 2025-01-01 2025-12-31 2 41462124 2025-01-01 2025-12-31 3 41462124 2024-01-01 2024-12-31 41462124 2025-12-31 41462124 2024-12-31 41462124 2025-01-01 c:ContributedCapitalMember 41462124 2025-01-01 c:RetainedEarningsMember 41462124 2025-01-01 2025-12-31 c:ContributedCapitalMember 41462124 2025-01-01 2025-12-31 c:RetainedEarningsMember 41462124 2025-12-31 c:ContributedCapitalMember 41462124 2025-12-31 c:RetainedEarningsMember 41462124 2025-01-01 c:InvestmentsInAssociatesMember 41462124 2024-01-01 c:InvestmentsInAssociatesMember 41462124 2025-12-31 c:InvestmentsInAssociatesMember 41462124 2024-12-31 c:InvestmentsInAssociatesMember 41462124 2025-01-01 2025-12-31 c:AssociateMember 1 41462124 2025-12-31 c:AssociateMember 1 41462124 2025-12-31 1 xbrli:pure iso4217:EUR xbrli:shares Regnskabsklasse B false 18351331 European Energy Gyngemose Parkvej 50 2860 Søborg 2025-01-01 2025-12-31 2024-01-01 2024-12-31 Jan Paulsen true 2026-06-15 Ingen bistand CaseWare-FSR Annual report 6 The Board of directors and Executive board have today discussed and approved the annual report of EE MSF ApS for the financial year 1 January - 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 1 January - 31 December 2025. In our opinion, management's review includes a fair review of the matters dealt with in the management's review. The financial statements have not been audited. Management considers the criteria for not auditing the financial statements to be met. Management recommends that the annual report should be approved by the company in general meeting. Knud Erik Andersen Director Knud Erik Andersen chairman Thorvald Spanggaard Jens-Peter Zink EE MSF ApS Gyngemose Parkvej  50 2860  Søborg 41462124 Gladsaxe Business reviewThe main focus of the Company is to invest in sustainable energy through construction of solar parks and/or any other objectives in this connection. Financial review The company's income statement for the year ended 31. december 2025 shows a loss of EUR 4.590, and the balance sheet at 31 December 2025 shows equity of EUR 33.081. 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. The annual report of EE MSF 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 EUR Pursuant to sections §110 subsection 1, of the Danish Financial Statements Act, the company has not prepared consolidated financial statements. The Company has changed its accounting policy for investments in subsidiaries and associates, which were previously measured using the equity method, but are now measured at cost less any impairment losses. Management assesses that the cost method better reflects the Company’s risk exposure and economic reality and therefore provides a more true and fair representation. The change has been applied retrospectively, and opening equity has been adjusted accordingly.   Consequently, the comparative figures and equity as of 1 January 2025 are affected as follows:    Investments in subsidiaries: EUR +49 Provisions: EUR -38.943 Profit/(loss) for 2024: EUR +11.176 Equity as of 1 January 2025: EUR +38.992   Except for the above-mentioned areas, the accounting policies applied are unchanged compared to the previous year. Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including amortisation, depreciation and impairment losses, are also recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company and the value of the asset can be measured reliably.Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company and the value of the liability can be measured reliably.On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item.Certain financial assets and liabilities are measured at amortised cost using the effective interest method. Amortised cost is calculated as the historic cost less any installments and plus/less the accumulated amortisation of the difference between the cost and the nominal amount.On recognition and measurement, allowance is made for predictable losses and risks which occur before the annual report is presented and which confirm or invalidate matters existing at the balance sheet date. In pursuance of section 32 of the Danish Financial Statements Act, the company does not disclose its revenue. Gross loss reflects an aggregation of revenue and other operating income less direct costs and other external expenses. Other external expenses includes expenses related to administration etc. Dividend from investments is recognised in the reporting year in which the dividend is declared. 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 etc. The company is subject to the Danish rules on compulsory joint taxation of the Group's Danish subsidiaries. Subsidiaries participate in the joint taxation arrangement from the time when they are included in the consolidated financial statements and until the time when they withdraw from the consolidation.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. Investments in subsidiaries are measured at cost. If cost exceeds the recoverable amount, a write-down is made to this lower value. The carrying amount of investments in subsidiaries is tested annually for impairment, other than what is reflected through normal amortisation and depreciation.Where there is evidence of impairment, an impairment test is performed for each individual asset or group of assets. Write-down is made to the lower of the recoverable amount and the carrying amount.The recoverable amount is the higher of the net present value and the value in use less expected costs to sell. The net present value is determined as the present value of the anticipated net cash flows from the use of the asset or group of assets and the anticipated net cash flows from the disposal of the asset or group of assets after the end of their useful life. Receivables are measured at amortised cost. Cash and cash equivalents comprise cash and deposits at banks. According to the joint taxation rules the groups supreme parent company, as the administrative company, takes over the liability for the Company's corporate taxes to the tax authorities, in line with the payment of joint taxation contribution.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.Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value. Liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value. 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. Fixed assets acquired in foreign currencies are translated at the exchange rate at the transaction date. -8569 -6391 2665 1186 0 734 -5904 -5939 -1314 -1293 -4590 -4646 -4590 -4646 49 49 49 49 49 49 30877 35937 2137 1307 33014 37244 18 378 33032 37622 33081 37671 5367 5367 27714 32304 33081 37671 33081 37671 5367 -6688 0 38992 -4590 5367 27714 0 0 The Company has entered into an administrative agreement with European Energy A/S. This includes a minor share of management remuneration, since the Company's management does not receive salary or other remuneration. 2661 1164 4 21 0 1 2665 1186 0 365 0 369 0 734 49 49 49 49 49 49 QSF Holding Pty ltd. Søborg 80 -88350 -41954 The share capital consists of 40.000  shares  of a nominal value of EUR 1. No shares carry any special rights. 40000 1 The Company is jointly taxed with its ultimate parent company, KEA Holding I ApS (management company), and has limited and secondary liability together with other jointly taxed entities for payment of income taxes. According to the company’s register of shareholders, the following shareholder holds at least 5% of the votes or at least 5% of the share capital: