41345209 2025-01-01 2025-12-31 41345209 2025-01-01 2025-12-31 1 41345209 2025-01-01 2025-12-31 1 41345209 2025-01-01 2025-12-31 1 41345209 2025-01-01 2025-12-31 2 41345209 2025-01-01 2025-12-31 3 41345209 2025-01-01 2025-12-31 4 41345209 2024-01-01 2024-12-31 41345209 2025-12-31 41345209 2024-12-31 41345209 2024-12-31 fsa:ContributedCapitalMember 41345209 2024-12-31 fsa:ReserveForCurrentValueOfHedgingMember 41345209 2024-12-31 fsa:RetainedEarningsMember 41345209 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 41345209 2025-01-01 2025-12-31 fsa:ReserveForCurrentValueOfHedgingMember 41345209 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 41345209 2025-12-31 fsa:ContributedCapitalMember 41345209 2025-12-31 fsa:ReserveForCurrentValueOfHedgingMember 41345209 2025-12-31 fsa:RetainedEarningsMember iso4217:DKK Klaus Erik Lambert Larsen Helseholmen 10 ApS Axeltorv 6, 5. th 1609 København V. 41345209 København Weidekampsgade 6 2300 Copenhagen S Copenhagen, Eric Pontus Michael Flemme Gärdsell Klaus Erik Lambert Larsen Anssi Sakari Halonen Eric Pontus Michael Flemme Gärdsell Sorin-Constantin Jiler The Board of Directors and the Executive Board have today considered and approved the annual report of Helseholmen 10 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 opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2025 and of the results of its operations for the financial year 01.01.2025 - 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. To the shareholders of Helseholmen 10 ApS ConclusionWe have performed an extended review of the financial statements of Helseholmen 10 ApS for 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. The financial statements are prepared in accordance with the Danish Financial Statements Act. Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2025 and of the results of its operations for the financial year 01.01.2025 - 31.12.2025 in accordance with the Danish Financial Statements Act. Basis for conclusionWe conducted our extended review in accordance with the assurance engagement standard for small enterprises as issued by the Danish Business Authority and the standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. We are independent of the Entity 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. Management's responsibilities for the financial statementsManagement 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 Entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so. Auditor’s responsibilities for the extended review of the financial statementsOur responsibility is to express a conclusion on the financial statements. This requires that we plan and perform procedures to obtain limited assurance about our conclusion on the financial statements and that we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion. An extended review consists of making inquiries, primarily of Management and, if appropriate, of other entity personnel, performing analytical and the specifically required supplementary procedures as well as evaluating the evidence obtained. The procedures performed in an extended review are less in scope than in an audit, and accordingly we do not express an audit opinion on the financial statements. Tim Kjær-Hansen mne23295 State Authorised Public Accountant 33963556 Copenhagen, DeloitteStatsautoriseret Revisionspartnerselskab Statement on the management commentaryManagement 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 in 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 by relevant law and regulations. Based on the work we have performed, we conclude that the management commentary is in accordance with 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. Primary activitiesThe company's main activities are owning properties for rental purpose. The property is located in an attractive last mile location in Hvidovre with a strong tenant. 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. 4088403 4009171 4631267 -3636689 8719670 372482 107537 0 4359167 4603076 4468040 -4230594 1161186 -1063192 3306854 -3167402 3306854 -3167402 3306854 -3167402 86300000 81500000 86300000 81500000 86300000 81500000 5200 0 0 51774 88484 370291 93684 422065 133273 225309 226957 647374 86526957 82147374 50000 50000 -42246 -166626 18110957 14804103 18118711 14687477 4815128 3375043 4815128 3375043 52158230 51693765 7373310 7373310 59531540 59067075 201026 539438 3023559 3594013 13649 0 823344 884328 4061578 5017779 63593118 64084854 86526957 82147374 50000 -166626 14804103 14687477 0 172140 0 172140 0 47760 0 47760 0 0 3306854 3306854 50000 -42246 18110957 18118711 1. Other financial expenses20252024DKKDKKFinancial expenses from group enterprises 368.665369.676Other interest expenses3.980.7794.223.900Other financial expenses 9.723 9.5004.359.1674.603.076 2. Tax on profit/loss for the year20252024DKKDKKChange in deferred tax 1.452.000 (1.063.192)Refund in joint taxation arrangement (290.814) 01.161.186(1.063.192) 3. Property, plant and equipmentInvestment propertyDKKCost beginning of year 63.395.899Additions 168.733Cost end of year63.564.632Fair value adjustments beginning of year 18.104.101Fair value adjustments for the year 4.631.267Fair value adjustments end of year22.735.368Carrying amount end of year86.300.000Assumptions when calculating the fair value of the investment propertiesThe investment properties are measured at fair value. The fair value is calculated using the traditional investment capitalisation method. An independent valuation expert has been engaged to value the properties.The investment properties consist of warehouses and office buildings located in the Copenhagen area.The total fair value of DKK thousand has been calculated by the following assumptions.- Equivalent yield is 5,3% (2024: 5,5%)- Average capital rate per sqm of 13.841 DKK (2024: 13.071 DKK)- The expected idle rent/structural vacancy is a percentage of income are 0% (2024: 0%)Sensitivity when calculating the fair value of the investment propertiesAt 31 December 2025, the market value has been assessed using an individually fixed rate of return of 5,3%.Changes in the estimate of the rate of return on the investment properties will affect the value of the investment properties recognised in the balance sheet and the value adjustment recognised in the income statement.Changes in the average rate of return-0,5%Basis0,5%Rate of return 4,8% 5,3% 5,8%Fair value 95.289.583 86.300.000 78.860.345Change in fair value 8.989.583 0 (7.439.655) 4. Non-current liabilities other than provisionsDue within 12 Due within months 1-5 years20252025DKKDKKBank loans201.02652.158.230Payables to group enterprises07.373.310201.02659.531.540 5. EmployeesThe Entity has no employees other than the Executive Board. The Executive Officer has not received any remuneration. 6. Financial instrumentsInterest rate cap have been entered into to hedge future interest payments on a floating-rate loan. The cap have a term to expiry November 2027. Under the contracts, an interest rate of Cibor 3 months is exchanged for cap rate of 2,75% on a loan with a principal amount of 54.146.492 DKK. The maturity of the loan is 2 years. The fair value adjustment of cap rate at the balance sheet date amounts to 54,161 DKK, which has been recognised as prepayments. 7. Assets charged and collateralAssets charged and collateral - Bank loans is secured by way of mortgage on properties. The mortgage also comprises the plant and machinery deemed part of the property. Bank loans are secured by way of a deposited mortgage deed registered to the mortgagor of DKK 59,561,142 nominal. The carrying amount of mortgaged properties is DKK 86,300,000 DKK. true true 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.Income statementGross profit or lossGross profit or loss comprises revenue and external expenses.RevenueRevenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the considerationfixed.Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets.Property costsProperty costs include costs incurred to operate the Entity’s properties in the financial year, including repair and maintenance costs, property tax and electricity, water and heating, which are not charged directly from the lessee.Fair value adjustments of investment propertyFair value adjustments of investment property comprise adjustments for the financial year of the Entity’s investment properties measured at fair value at the balance sheet date.Other financial incomeOther financial income comprises foreign exchange gains and fair value gains on interest rate hedging instruments.Other financial expensesOther financial expenses comprise interest expenses, including net capital or exchange losses on securities, payables and 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.Balance sheetInvestment propertyOn initial recognition, investment properties are measured at cost consisting of the acquisition price of the properties plus directly related acquisition costs. Subsequent to initial recognition, investment properties are measured at fair value which is equivalent to the amount at which the individual property may be sold to an independent buyer at the balance sheet date. Fair value is determined by applying the yield-based model as the calculated value in use of expected cash flows from each property. The calculation is based on budgeted net earnings for the next year that has been adjusted to normal earnings, and using a required yield rate that reflects current market yield rates for similar properties.The value is adjusted for factors not reflected in normal earnings, for example, actual vacancy rate, major refurbishments etc. The financial year's adjustments of the properties’ fair value are recognised in the income statement.ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises cash in hand and 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.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. Annual report Auditor's report on extended review ParsePort XBRL Converter 2025-01-01 2025-12-31 2024-01-01 2024-12-31 2026-06-24 Reporting class B 2026-06-24 27208827 Stoneweg Denmark A/S Axeltorv 6, 5th, 1609 København Opinion Basis for Opinion 2026-06-24