42523747 2025-01-01 2025-12-31 42523747 2025-01-01 2025-12-31 0 42523747 2025-01-01 2025-12-31 0 42523747 2024-01-01 2024-12-31 42523747 2025-12-31 42523747 2024-12-31 xbrli:pure iso4217:DKK 2025-01-01 Regnskabsklasse B Årsrapport 33241763 Aaen & Co statsautoriserede revisorer p/s Kongevejen 3 3000 Helsingør xWizard version 1.1.1540.0, by EasyX Aps. www.easyx.eu 2024-01-01 2024-12-31 Den uafhængige revisors erklæring Grundlag for konklusion Konklusion 2 42523747 2025-12-31 2026-05-01 Søren Holst Chair of the meeting Registered Office Municipality: København Jacob Jensen A/S Østersøvej 28B 2150 Nordhavn Aaen & Co. statsautoriserede revisorer p/s 2021-06-05 Management's Review   Principal Activities of the Company   Jacob Jensen A/S was established as a stand-alone business within the Jacob Jensen Group. The company   builds on design services from its sister company, Jacob Jensen Design A/S, in Denmark and other resources  within the Jacob Jensen Group.   Significant Changes in Activities and Financial Position   There have been no significant changes in the Company’s activities or financial position during the year.   The company has lost more than 50% of its share capital and is thus subject to the capital loss provisions of   the Danish Companies Act. Management expects to re-establish the share capital through future operations   and/or through capital contributions.   The shareholders and the ultimate shareholder, Kolind A/S, has continued to support the Company and the   Group financially, and has pledged to do so also in the 2026 financial year.   The Board expects that future operations can be carried out within the available credit lines and the received   letter of support from Kolind A/S.   Based on the above assumptions, Management has presented the financial statements on a going concern   basis.   Management’s Statement The Annual Report has been 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 assets, liabilities, and finan-   cial position as of 31 December 2025, as well as of the results of the Company’s operations for the financial   year 1 January – 31 December 2025.   In our opinion, the Management’s Review includes a fair review of the matters covered by the report.   be approved at the Annual General Meeting. Nordhavn 2026-05-01 Chairman Independent Auditor’s Report To the shareholders of Jacob Jensen A/S: Opinion   We have audited the Financial Statements of Jacob Jensen A/S 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, for the Company. The Financial Statements are prepared in accord-   ance 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 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 re-   quirements 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’   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 audit evidence we have obtained is sufficient and appropriate to provide   a basis for our opinion.   Management’s Responsibilities for the Financial Statements   Management is responsible for the preparation of Financial Statements that give a true and fair view in accord-   ance 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 con-   tinue as a going concern, disclosing, as applicable, matters related to going concern and using the going con-   cern 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.   Auditor’s Responsibilities for the Audit of the Financial Statements   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 mis-   statement 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 of ac-   counting information 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 judgment and maintain professional skepticism 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 misstate-   ment 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 pre-   paring 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 inade-   quate, 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 disclo-   sures, 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 Review   Management 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 State-   ments 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   Statement Act. We did not identify any material misstatement of Management’s Review.   Helsingør 2026-05-01 Aaen & Co. statsautoriserede revisorer p/s 33241763 Jesper Fenger Smidt State Authorised Public Accountant mne31476 Accounting Policies   Basis of Preparation   The Annual Report of Jacob Jensen A/S for 2025 has been prepared in accordance with the provisions of the   Danish Financial Statements Act for reporting class B entities. In addition, Management has elected to apply   certain rules from reporting class C.   The applied accounting policies are unchanged from the previous year.   Reporting currency   The financial statements are presented in Danish kroner.   General Recognition and Measurement   Income is recognised in the income statement as it is earned, including value adjustments of financial assets   and liabilities. All expenses, including 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 out of   the Company and the value of the liability can be measured reliably.   On initial recognition, assets and liabilities are measured at cost. Subsequently, they are measured as described   for each individual item below.   Certain financial assets and liabilities are measured at amortised cost, which involves recognising a constant   effective interest rate over the term. Amortised cost is calculated as the original cost less any repayments and   adjusted for the accumulated amortisation of the difference between cost and nominal amount.   Recognition and measurement take into account foreseeable losses and risks arising before the presentation   of the annual report that confirm or invalidate conditions existing at the balance sheet date.   Foreign Currency Translation   Transactions in foreign currencies are translated at the exchange rate at the date of the transaction. Exchange   differences arising between the transaction date rate and the rate at the date of payment are recognised in the   income statement as financial items. If foreign currency positions are considered to hedge future cash flows,   the value adjustments are recognised directly in equity.   Receivables, payables, and other monetary items denominated in foreign currencies that have not been settled   at the balance sheet date are measured at the exchange rate at the balance sheet date. The difference between   the exchange rate at the balance sheet date and the rate at the date of the transaction is recognised in the   income statement under financial income and expenses.   Fixed assets purchased in foreign currencies are measured at the exchange rate at the transaction date.   Gross Profit   Gross profit comprises the year’s revenue less cost of goods sold and other external expenses.   The Company has chosen IAS 11/IAS 18 as interpretation for revenue recognition.   Income from the sale of goods for resale and finished goods is recognised in revenue when transfer of the most   significant rewards and risks to the buyer has taken place and provided that the income can be reliably meas-   ured and payment is expected to be received.   Income from the rendering of services, which comprise designing products, is recognised as revenue as the   services are rendered, implying that revenue corresponds to the market value of the services rendered in the   year (production method).   Licence and royalty income is recognised over the term of the agreement in accordance with the contents of   the agreement.   Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf   of third parties. All discounts and rebates granted are recognised in revenue.   Cost of goods sold includes expenses incurred to generate the year’s revenue.   Other external expenses include costs related to distribution, sales, marketing, administration, premises, bad   debts, leasing, and similar items.   Staff Costs   Staff costs include wages and salaries, including holiday pay and pensions, as well as other social security   expenses related to the Company’s employees.   Financial income and expenses   Financial income and expenses are recognised in the income statement at the amounts relating to the financial   year. Financial items include interest income and expenses, foreign currency transactions, and refunds under   the on-account tax scheme, etc.   Tax on Profit for the Year   The tax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the   income statement to the extent that it relates to the profit for the year, and directly in equity to the extent that it   relates to entries recognised directly in equity.   The Company is jointly taxed with its parent company. Kolind A/S acts as the administrative company. The tax   effect of the joint taxation with the parent company is allocated between the profit-making and loss-making   companies in proportion to their taxable income (full allocation with reimbursement for tax-deductible losses).   Balance Sheet   Intangible Assets   Other intangible assets include development projects and other acquired intangible rights, including software   licences, distribution rights and development projects. Other intangible assets are measured at cost less accu-   mulated amortisation and impairment losses.   Tangible Fixed Assets   Other fixtures, fittings, tools and equipment are measured at cost less accumulated depreciation and impairment   losses.   The basis for depreciation is the cost less the expected residual value at the end of the useful life.   Cost includes the purchase price and any costs directly attributable to bringing the asset to the condition nec-   essary for it to be used as intended.   Depreciation is calculated on a straight-line basis over the expected useful lives and estimated residual values   of the assets as follows:   Other fixtures, fittings, tools, equipment   3 – 5 years Expected Residual Value  0%   Expected useful lives and residual values are reviewed annually.   Gains or losses on the disposal of equipment are calculated as the difference between the selling price less   selling costs and the carrying amount at the time of sale. Gains and losses are recognised in the income state-   ment under other operating income or other operating expenses, respectively.   Financial Fixed Assets   Deposits are measured at amortised cost.   Receivables   The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables. Receiv-   ables are measured at amortised cost.   An impairment loss is recognised if there is objective evidence that a receivable is impaired. If there is objective   evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual   basis.   Impairment losses are calculated as the difference between the carrying amount of the receivables and the  present value of the expected cash flows, including the realisable value of any collateral received. The effective   interest rate for the individual receivable or portfolio is used as discount rate.   Prepayments   Prepayments recognised under assets include expenses incurred that relate to subsequent financial years.   Cash   Cash comprise cash and short term securities which are readily convertible into cash and subject only to minor   risks of changes in value.   Dividends   Dividends expected to be distributed for the year are presented as a separate item under equity. Proposed   dividends are recognised as a liability at the date of approval by the General Meeting.   Current and Deferred Tax Liabilities   The Company is jointly taxed with its parent company, Kolind A/S. Corporate tax is recognised in the balance   sheet under “Corporate tax payable” or “Corporate tax receivable”.   Deferred tax is measured using the balance sheet liability method on all temporary differences between the   carrying amount and the tax base of assets and liabilities. In cases where the tax value can be determined   under alternative taxation rules (e.g. for shares), deferred tax is measured based on the intended use of the   asset or settlement of the liability.   Deferred tax assets, including the tax value of tax loss carryforwards, are recognised at the value at which they   are expected to be realised, either through offset against deferred tax liabilities or through future taxable income   within the same tax group. Any net deferred tax assets are measured at net realisable value.   Deferred tax is measured based on the tax rules and tax rates that are enacted at the balance sheet date and   are expected to apply when the deferred tax is realised as current tax. Changes in deferred tax resulting from   changes in tax rates are recognised in the income statement. For the current year, a tax rate of 22% has been   applied.   Liabilities.  Other liabilities are measured at amortised cost, which typically corresponds to the nominal value.   -743445 -984096 1989463 1860678 207901 220271 -2953179 -3052675 22949 1807 355606 169135 -3285836 -3220003 0 -147530 -3285836 -3072473 0 0 -3285836 -3072473 -3285836 -3072473 95000 285000 95000 285000 91433 121704 91433 121704 128700 49500 128700 49500 315133 456204 279695 15509 0 435689 15509 66224 19684 217028 45423 26542 367169 154308 521477 836610 754134 8454 762588 1218792 1080000 1080000 -8168749 0 -4882913 0 -7088749 -3802913 6376987 4144038 6376987 4144038 410603 962775 120737 54257 442160 259385 119998 56124 1548372 7925359 836610 877667 5021705 1218792 Equity Statement   Retained   Proposed   Share capital   earnings   dividend   Total   Equity 1 January 2024   1.080.000   -1.810.440   0 -730.440   Dividends paid   0 0 0 0 Profit of the year   0 -3.072.473   0 -3.072.473   Equity 31 December 2024   1.080.000   -4.882.913   0 -3.802.913   Equity 1 January 2025   1.080.000   -4.882.913   0 -3.802.913   Dividends paid   0 0 0 0 Profit of the year   0 -3.285.836   0 -3.285.836   Equity 31 December 2025   1.080.000   -8.168.749   0 -7.088.749   Notes to the Financial Statements   1 Going concern uncertainties   The company has lost more than 50% of its share capital and is thus subject to the capital loss provisions   of the Danish Companies Act. Management expects to re-establish the share capital through future   operations and/or through capital contributions.   The shareholders and the ultimate shareholder, Kolind A/S, has continued to support the Company and the   Group financially, and has pledged to do so also in the 2026 financial year.   The Board expects that future operations can be carried out within the available credit lines and the   received letter of support from Kolind A/S.   Based on the above assumptions, Management has presented the financial statements on a going concern   basis.   2025   2024   2 Staff costs   Wages/salaries   1.880.477   1.794.168   Pensions   100.071   58.356   Other staff costs   8.915   8.154   1.989.463   1.860.678   Average number of employees   2 2 3 Financial income   Other financial income   22.949   1.807   22.949   1.807   4 Financial expences   Interest expences, group entities   319.173   144.038   Other financial expenses   36.433   25.097   355.606   169.135   Notes to the Financial Statements   2025   2024   5 Tax for the year   0 -147.530   6 Intellectual Property Rights   Cost at 1 January   950.000   950.000   Reversal of amortisation/depreciation and impariment of disposals   0 0 Impairment losses and depreciation at 31 December   855.000   665.000   Carrying amout at 31 December   95.000   285.000   7 Fixtures, fittings, tools and equipment   Cost at 1 January   139.605   0 Reversal of amortisation/depreciation and impariment of disposals   0 0 Impairment losses and depreciation at 31 December   48.172   17.901   Carrying amout at 31 December   91.433   121.704   Notes to the Financial Statements   8 Payables to group entities, long-term liabilities   The company's non-current liabilities are due after one year and within five years.   9 Collaterals   The company has not provided any pledges or collateral.   10   Contingent liabilities   The Company is jointly taxed with its parent company, Kolind A/S, which acts as management company,   and is jointly and severally liable with other jointly taxed group entities for the payment of income taxes.   11   Other obligations   The total amount of the company’s other liabilities amounts to DKK 180 thousand.