42712744 2025-01-01 2025-12-31 c:RestOfOtherReservesMember 42712744 2025-01-01 2025-12-31 42712744 2025-01-01 2025-12-31 1 42712744 2025-01-01 2025-12-31 1 42712744 2025-01-01 2025-12-31 2 42712744 2025-01-01 2025-12-31 3 42712744 2025-01-01 2025-12-31 1 42712744 2024-01-01 2024-12-31 42712744 2025-12-31 42712744 2024-12-31 42712744 2025-01-01 c:ContributedCapitalMember 42712744 2025-01-01 c:RestOfOtherReservesMember 42712744 2025-01-01 c:RetainedEarningsMember 42712744 2025-01-01 2025-12-31 c:RetainedEarningsMember 42712744 2025-12-31 c:ContributedCapitalMember 42712744 2025-12-31 c:RestOfOtherReservesMember 42712744 2025-12-31 c:RetainedEarningsMember 42712744 2025-01-01 c:GoodwillMember 42712744 2025-12-31 c:GoodwillMember 42712744 2025-01-01 2025-12-31 c:GoodwillMember iso4217:DKK xbrli:pure 0 true BDO Statsautoriseret Revisionspartnerselskab Havneholmen 2, 6. sal DK-2450 Copenhagen SV 45719375 2026-06-22 Charlotta Hoegy  Årsrapport Wellspect ApS Maglebjergvej 10 2800 Kongens Lyngby Den uafhængige revisors erklæring om udvidet gennemgang 42712744 2021-09-28 Lyngby-Taarbæk 2025-01-01 2025-12-31 2024-01-01 2024-12-31 BDO Statsautoriseret Revisionspartnerselskab Havneholmen 2, 6. sal 2450 Copenhagen SV Today the Board of Directors and Executive Board have discussed and approved the Annual Report of Wellspect ApS for the fi­nan­ci­al year 1 January  - 31 December 2025. The Annual Report is presented 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. The Management Commentary includes in our opinion a fair presentation of the matters dealt with in the Commentary. We recommend the Annual Report be approved at the Annual General Meeting. Kongens Lyngby 2026-06-17 Christopher Francis Schlenk Christopher Francis Schlenk Chairman Carl Henric Olson Jimmy Emil Peder Pedersen To the Shareholder of Wellspect ApS Konklusion We ha­ve per­for­med an extended review of the Fi­nan­ci­al Sta­te­ments of Wellspect ApS for the fi­nan­ci­al year 1 January - 31 December 2025, which comprise income statement, Balance Sheet, sta­te­ment of chan­ges in e­qui­ty and no­tes, including a summary of significant accounting policies. The Fi­nan­ci­al Sta­te­ments are pre­pared under the Danish Financial State­ments Act.   Based on the work performed 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 accordance with the Danish Financial Statements Act.   Basis for ConclusionGrundlag for konklusion We conducted our extended review in accordance with the Danish Business Authority's Assurance Standard for Small Enterprises and FSR – Danish Auditors' standard on extended review of Financial Statements prepared in accordance with the Danish Financial Statements Act. Our responsibilities under those standards and requirements are further described in the "Auditor's Responsibilities for the Extended Review 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 (including International Independence Standards) (IESBA Code), together with the ethical requirements that are relevant to our audit of the Financial Statements in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We be­lie­ve that the e­vi­den­ce we ha­ve ob­tai­ned is suf­fi­ci­ent and ap­prop­ria­te to pro­vi­de a ba­sis for our con­clu­si­on.   Grundlag for konklusion Management's Re­spon­si­bi­li­ti­es for the Fi­nan­ci­al Sta­te­ments 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 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 responsibility is to express a conclusion on the Fi­nan­ci­al Sta­te­ments. This requires that we plan and perform procedures in order to obtain limited assurance for our conclusion on the Fi­nan­ci­al Sta­te­ments and in addition perform specifically required supplementary procedures to obtain further assurance for our conclusion.   An extended review comprises procedures that primarily consist of making inquiries of Ma­na­ge­ment and others within the Company, as appropriate, analytical procedures and the specifically required supplementary procedures as well as evaluation of the evidence obtained.   The procedures performed in an extended review are less than those performed in an audit, and accordingly, we do not express an audit opinion on the Fi­nan­ci­al Sta­te­ments.   Statement on the Management Commentary Management is responsible for the Ma­na­ge­ment Com­men­ta­ry.   Our conclusion on the Fi­nan­ci­al Sta­te­ments does not cover the Ma­na­ge­ment Com­men­ta­ry, and we do not express any form of assurance conclusion thereon.   In connection with our extended review of the Fi­nan­ci­al Sta­te­ments, our responsibility is to read the Ma­na­ge­ment Com­men­ta­ry and, in doing so, consider whether the Ma­na­ge­ment Com­men­ta­ry is materially inconsistent with the Fi­nan­ci­al Sta­te­ments or our knowledge obtained during the extended review, or otherwise appears to be materially misstated.   Moreover, it is our responsibility to consider whether the Ma­na­ge­ment Com­men­ta­ry provides the information required under the Danish Financial Statements Act.   Based on the work we have performed, we conclude that the Ma­na­ge­ment Com­men­ta­ry 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 in the Ma­na­ge­ment Com­men­ta­ry.   Copenhagen 2026-06-17 BDO Statsautoriseret Revisionspartnerselskab 45719375 Annika Raunholt Den uafhængige revisors erklæring om udvidet gennemgang State Authorised Public Accountant mne45844 Principal activities The principal activities comprise trade in medical equipment for the healthcare sector as well as companies that are associated with the sector.   Significant events after the end of the financial year No events have occurred after the end of the financial year of material importance for the Company's financial position.   9812168 9418639 3336622 5005106 2695514 2921028 3780032 1492505 294759 544870 1062751 956507 3012040 1080868 -163816 415994 3175856 664874 3175856 664874 3175856 664874 9209672 11905186 9209672 11905186 9209672 11905186 4772547 5796213 31445920 18169814 208729 0 246624 226433 88139 87699 36761959 24280159 36761959 24280159 45971631 36185345 40000 40000 7500000 7500000 5293490 2117634 12833490 9657634 48970 90585 6441520 131068 22762536 20718120 602240 664850 33138141 26527711 33138141 26527711 45971631 36185345 DKKSha­re ca­pi­talOther reservesRetained earningsTotal Equity at 1 January 202540.0007.500.0002.117.6349.657.634 Proposed profit allocation 3.175.8563.175.856 Equity at 31 December 202540.0007.500.0005.293.49012.833.490 40000 7500000 2117634 3175856 40000 7500000 5293490 1 | Staff costs Ave­ra­ge num­ber of full ti­me em­ploy­ees49 Wages and salaries 2.910.4124.366.752 Pensions 320.558421.329 Social security costs 85.472121.352 Other staff costs 20.18095.673 3.336.6225.005.106 4 9 2910412 4366752 320558 421329 85472 121352 20180 95673 3336622 5005106 2 | Other financial expenses Group enterprises 947.986950.583 Other interest expenses 114.7655.924 1.062.751956.507 947986 950583 114765 5924 1062751 956507 602240 415994 -557327 0 -208729 0 4 | Intangible assets DKKGoodwill Cost at 1 January 2025 18.868.597Cost at 31 December 2025 18.868.597 Amortisation at 1 January 2025 6.963.411Amortisation for the year 2.695.514Amortisation at 31 December 2025 9.658.925 Carrying amount at 31 December 20259.209.672 18868597 18868597 6963411 2695514 9658925 9209672 Contingent liabilities The total contingent liabilities as of the balance sheet date amount to: 1.158.733 Joint liabilitiesThe Company is jointly and severally liable together with the Parent Company and the other group companies in the joint taxable group for tax on the group’s joint taxable income and for certain possible withholding taxes, such as dividend tax, etc. Tax payable on the Group’s joint taxable income is stated in the annual report of DENTSPLY IH A/S, which serves as management Company for the joint taxation. 1158733 The Annual Report of Wellspect ApS for 2025 has been presented in accor­dance with the pro­vi­sions of the Da­nish Fi­nan­ci­al State­ments Act for en­ter­pri­ses in re­por­ting class B and cer­tain pro­vi­si­ons ap­ply­ing to re­por­ting class C.  Regnskabsklasse B1truetrue Regnskabsklasse B true The Annual Report is prepared consistently with the accounting principles applied last year, except for the following changes.   Change in accounting classification The accounting classification have been changed in the following areas:   Cash and cash equivalents included in a cash pool arrangement were incorrectly presented in the prior year. In the current year, these amounts have been reclassified as receivables from group enterprises. The reclassified amount totals DKK 16,045,041.  Net revenue Net revenue from the sale of merchandise and finished goods is recognised in the Income Statement if supply and risk transfer to purchaser has taken place before the end of the year and if the income can be measured reliably and is expected to be received.   Net revenue is recognised exclusive of VAT and less duties and discounts related to the sale.   Costs of raw materials and consumables Raw materials and consumables comprises the costs of raw materials and consumables used to reach the revenue for the year. Additionally, decrease or increase of inventories of raw materials and consumables for the year is included, as well as normal impairment of inventories of raw materials and consumables.   Other operating income Other operating income includes items of a secondary nature in relation to the enterprises' principal activities, including profit from sale of intangible and tangible assets, operating loss and conflict compensations, as well as salary refunds. Compensations are recognised when the income is estimated to be realisable.    Other external expenses Other external expenses include other production, sales, delivery and administrative costs, including costs of energy, marketing, premises, loss on bad debts,  lease expenses, etc   Staff costs Staff costs comprise wages and salaries, including holiday pay and pensions, and other costs of social security etc., for the Com­pa­ny's employees.   Financial income and expenses Financial income and expenses include interest income and expenses, financial expenses of finance leases, realised and unrealised gains and losses arising from securities, debt and transactions in foreign currencies, as well as charges and allowances under the tax-on-account scheme, etc. Financial income and expenses are recognised by the amounts that relate to the financial year. Interest income and expenses are calculated on amortised cost prices.   Tax The tax for the year, which consists of the current tax for the year and changes in deferred tax, is recognised in the Income Statement by the share that may be attributed to the profit for the year, and is recognised directly in equity by the share that may be attributed to entries directly to equity.   Intangible fixed assets Acquired goodwill is measured at cost less accumulated amortisation. Goodwill is amortised on a straight-line basis over the expected useful life which is estimated to 15 years. The period of amortisation is determined based on an assessment of the acquired Company’s position in the market and earnings profile, and the industry-specific conditions.   Patents and licences are measured at the lower of cost less accumulated amortisation and the recoverable amount. Patents are amortised over the remaining patent period and licences are amortised over the period of the agreement, however, no more than 8 years.   Profit or loss from sale of intangible fixed assets is calculated at the difference between the sales price and the carrying amount at the time of the sale. Profit and loss are recognised in the Income Statement under other operating income or other operating expenses.    Impairment of fixed assets The carrying amount of in­tan­gib­le fi­xed as­sets, are assessed annually for indications of impairment other than that reflected by amortisation and depreciation.   In the event of impairment indications, an impairment test is made for each asset or group of assets, respectively. If the recoverable amount is lower than the carrying amount, the asset is written down to the recoverable amount.   The recoverable amount is calculated at the higher of the capital value and the sales value less expected costs of a sale. The capital value is determined as the Company's share in the current value of the net cash flows which the subsidiary is expected to generate through its activities and from sale of assets after the end of their useful lives. A discount rate is used which reflects the risk-free market rate and the owners' minimum return on interest requirements for similar assets. The growth rate in the terminal period is determined in accordance with the standards within the industry.   Receivables Receivables are measured at amortised cost which usually corresponds to nominal value. The value is written down to meet expected losses.   Write-off is performed to provide for losses when an objective indication has been assessed to have incurred that a receivable or a portfolio of receivables are impaired. If there is an objective indication that an individual receivable is impaired, the write-off is performed at individual level.   Receivables for which there are no objective indication of impairment at individual level are assessed at portfolio level for objective indication of impairment. The portfolios are primarily based on the debtors’ registered office and credit rating in accordance with the Company’s policy for credit risk management. The objective indicators, which are applied for portfolios, are determined based on the historical loss experiences.   Write-off is determined as the difference between the carrying amount of receivables and the present value of the expected cash flows, including realisable value of any received collaterals. The effective interest rate is used as discount rate for the single receivable or portfolio.   Accruals, assets Accruals recognised as assets include costs incur­red relating to the subsequent financial year.   Tax payable and deferred tax Current tax liabilities and receivable current tax are recognised in the Balance Sheet as the calculated tax on the taxable income for the year, ad­justed for tax on the taxable income for previous years and taxes paid on account.   The Company is subject to joint taxation with Danish Group companies. The current corporation tax is distributed among the joint taxable companies in proportion to their taxable income and with full allocation and refund related to tax losses. The joint taxable companies are included in the tax-on-account scheme. Joint taxation contributions receivable and payable are recognised in the Balance Sheet under current assets and liabilities, respectively.   Deferred tax is measured on the temporary dif­ferences between the carrying amount and the tax value of assets and liabilities.   Deferred tax assets, including the tax value of tax loss carryforwards, are measured at the amount at which the asset is expected to be used within a reasonable number of years, either by setoff against tax on future earnings or by setoff against deferred tax liabilities within the same legal tax entity.   Deferred tax is measured on the basis of the tax rules and tax rates that under the legislation in force on the Balance Sheet date will be ap­pli­cable when the deferred tax is expected to crystallise as current tax. Any changes in the deferred tax resulting from changes in tax rates, are recognised in the income statement, except from items recognised directly in equity.   Liabilities Financial liabilities are recognised at the time of borrowing by the amount of proceeds received less transaction costs. In subsequent periods, the financial liabilities are measured at amortised cost equal to the capitalised value when using the effective interest, the difference between the proceeds and the nominal value being recog­nised in the Income Statement over the loan period.   The amortised cost of current liabilities corresponds usually to the nominal value.