32097901 2025-01-01 2025-12-31 32097901 2025-01-01 2025-12-31 0 32097901 2025-01-01 2025-12-31 1 32097901 2025-01-01 2025-12-31 0 32097901 2025-01-01 2025-12-31 1 32097901 2025-01-01 2025-12-31 2 32097901 2025-01-01 2025-12-31 0 32097901 2025-01-01 2025-12-31 0 32097901 2024-01-01 2024-12-31 32097901 2025-12-31 32097901 2024-12-31 32097901 2024-12-31 fsa:ContributedCapitalMember 32097901 2024-12-31 fsa:RetainedEarningsMember 32097901 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 32097901 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 32097901 2025-12-31 fsa:ContributedCapitalMember 32097901 2025-12-31 fsa:RetainedEarningsMember xbrli:pure iso4217:DKK 30195264 Kallermann Revision A/S - statsautoriseret revisionsfirma Stationspladsen 1 og 3 3000 Helsingør Revisionspåtegning Konklusion Grundlag for konklusion Årsrapport Regnskabsklasse B 2025-01-01 2025-12-31 2024-01-01 2024-12-31 true 0 Frisbii Denmark A/S Kronprinsessegade 8 B, 3.Kronprinsessegade 8 B, 3. 1306 København K 32097901 2026-06-25 Gregory Francois Jerome Herbert Today, Management has considered and adopted the Annual Report of Frisbii Denmark A/S for the financial year 1 January 2025 - 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 assets, liabilities and financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January 2025 - 31 December 2025. In our opinion, the Management's Review includes a true and fair account of the matters addressed in the review. We recommend that the Annual Report be adopted at the Annual General Meeting. Copenhagen 2026-06-25 Gregory Francois Jerome Herbert Ole Bakman Borup Managing director Managing director Romain Jean-Charles Railhac Olivia Marie-Therese Senneville Gregory Francois Jerome Herbert Chairman To the shareholders of Frisbii Denmark A/S OpinionWe have audited the financial statements of Frisbii Denmark A/S for the financial year 1 January 2025 - 31 December 2025, which comprise an income statement, balance sheet, statement of changes in equity and notes. The financial statements are 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 its operations for the financial year 1 January 2025 - 31 December 2025 in accordance with the Danish Financial Statements Act. Basis of opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibility under those standards and requirements are further described in the “Auditors' responsibility 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 statement 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 responsibility 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 considers 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 either liquidate the Company or suspend operations, or has no realistic alternative but to do so. The auditor's responsibility for the audit of the financial statementsOur responsibility is to obtain reasonable assurance as to whether the financial statements are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is no guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect material misstatements. Misstatements can arise from fraud or error and can be considered material if it would be reasonable to expect that these - either individually or collectively - could influence the economic decisions taken by the users of financial statements on the basis of these financial statements.As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain an attitude of professional skepticism throughout the audit. We also:* Identify and assess the risk of material misstatements in 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 misstatement resulting from fraud is higher than for a material misstatement resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or 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 whether the accounting policies used are appropriate and whether the accounting estimates and the related disclosures made by Management are reasonable.* Conclude on whether Management's use of the going concern basis of accounting in preparing the financial statements is appropriate and, based on the audit evidence obtained, conclude on whether a material uncertainty exists relating to events or conditions, which could 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 auditors' report to the related disclosures in the 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 auditors' report. However, future events or conditions may imply that the Company can no longer remain a going concern.* Evaluate the overall presentation, structure and contents of the financial statements, including note disclosures, and whether the financial statements reflect 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 which we identify during our audit. Statement on Management's ReviewManagement is responsible for the Management's review.Our opinion on the financial statements does not cover the Management's review, and we do not express any form of opinion providing assurance regarding the Management's review.Our responsibility in connection with our audit of the financial statements is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or with the knowledge we have gained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether the Management's review meets the disclosure requirements in the Danish Financial Statements Act.Based on our procedures, we are of the opinion that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements in the Danish Financial Statements Act. In our opinion, the Management's review is not materially misstated. Elsinore 2026-06-25 Kallermann Revision A/S - statsautoriseret revisionsfirma 30195264 Rasmus Rolighed Asmussen State Authorized Public Accountant mne45874 Frisbii Denmark A/S 1306 København K 89878581 support@frisbii.com https://frisbii.com/ 32097901 2025-01-01 2025-12-31 Stationspladsen 1 og 3 3000 Helsingør The Company's principal activitiesThe Company's principal activities consists in development, sale and operation of payment systems and systems for administration and payment of subscriptions. Development in the activities and the financial situation of the CompanyThe Company's Income Statement of the financial year 1 January 2025 - 31 December 2025 shows a result of 1.000.564 DKK and the Balance Sheet at 31 December 2025 a total of 35.262.291 DKK and an equity of 870.699DKK. Post financial year eventsAfter the end of the financial year, no events have occurred which may change the financial position of the entity substantially. The annual report of Frisbii Denmark A/S for 2025 has been presented in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B with the adoption of individual rules from class C. Translation policiesTransactions in foreign currencies are translated into DKK at the exchange rate prevailing at the date of transaction. Monetary assets and liabilities in foreign currencies are translated into DKK based on the exchange rates prevailing at the balance sheet day. Realised and unrealised foreign exchange gains and losses are included in the income statement under financial income and expenses. Income statement Gross profit/lossThe Company has decided to aggregate certain items of the income statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act.Gross profit is a combination of the items of revenue, other operating income, production costs and other external expenses. RevenueRevenue from the sale of consultancy work is recognised in the income statement when delivery is made and riskhas passed to the buyer. Revenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised excluding VAT and all discounts granted are recognised in revenue. Production costsProduction costs include costs incurred to generate the revenue for the year as well as costs for research and development. Other external expensesOther external expenses include expenses for distribution, sales, advertising, administration, premises, bad debts, operating leasing expenses etc. Staff costsStaff costs include wages and salaries including compensated absence and pension to the Companies employees, as well as other social security contributions etc.Other staff expenses are recognised in other external expenses. Financial income and expensesFinancial income and expenses are recognised in the income statement based at the amounts that concern the financial year. Financial income and expenses include interest revenue and expenses, financial expenses of finance leases, realised and unrealised capital gains and losses regarding securities, accounts payable and transactions in foreign currencies, repayment on mortgage loans, and surcharges and allowances under the advance-payment of tax scheme. Tax on net profit for the yearTax on net profit/loss for the year comprises current tax on expected taxable income of the year and the year's adjustment of deferred tax less the part of the tax of the year that relates to changes in equity. Current and deferred tax regarding changes in equity is recognised directly in equity. Balance sheet DepositsDeposits are measured at cost. ReceivablesReceivables are measured at amortized cost which usually corresponds to the nominal value. The value is reduced by write-downs for expected bad debts.Impairment of accounts receivables past due is established on individual assessment of receivables. Accrued income, assetsAccrued income recognised in assets comprises prepaid costs regarding subsequent financial years. Cash and cash equivalentsCash and cash equivalents comprise cash at bank and in hand as well as short-term securities with a term of less than three months which can be converted directly into cash at bank and in hand and involve only an insignificant risk of value changes. EquityEquity comprises the working capital and a number of equity items that may be statutory or stipulated in the articles of association. Deferred taxDeferred tax and the associated adjustments for the year are determined according to the liability method as the tax base of all temporary differences between carrying amounts and the tax bases of assets and liabilities. Deferred tax assets, including the tax base of tax losses allowed for carryforward, are recognised at the value at which they are expected to be used, either by elimination in tax on future earnings or by set-off against deferred tax liabilities in enterprises within the same legal entity and jurisdiction.Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation applicable at the balance sheet date when the deferred tax is expected to crystallize as current tax. Current tax liabilitiesCurrent tax liabilities and current tax receivables are recognised in the balance sheet as estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account. LiabilitiesFinancial liabilities are recognised initially at the proceeds received net of transaction expenses incurred. In subsequent periods, financial liabilities are measured at amortized cost, corresponding to the capitalized value using the effective interest method, so that the difference between the proceeds and the nominal value is recognised in the income statement over the life of the financial instrument.Other payablesOther payables are measured at amortized cost, which usually corresponds to the nominal value. Accruals and deferred income entered as liabilitiesAccruals and deferred income entered as liabilities consist of payments received regarding income in the subsequent financial years. 18448884 22359922 18371311 23308261 77573 -948339 417893 493334 42464 37293 87366 92268 450564 -509980 -550000 0 1000564 -509980 -1000564 509980 823721 823721 823721 823721 823721 823721 10666743 4316688 4165820 11026173 550000 0 21626577 20053751 12811993 7288169 34438570 27341920 35262291 28165641 1037999 1037999 -167300 -1167864 870699 -129865 1511732 4876913 18810519 16316160 5077675 4051164 8991666 3051269 34391592 28295506 34391592 28295506 35262291 28165641 1037999 -1167864 0 1000564 1037999 -167300 20252024DKKDKK1. Staff costsWages and salaries17.377.05921.418.767Post-employment benefit expense881.4161.535.080Social security contributions112.836354.41418.371.31123.308.261Average number of employees2128 21 28 3. Receivables from group enterprisesDueDueDueafter 1 yearwithin 1 yearafter 5 yearsDKKDKKDKKReceivables from group enterprises3.061.2751.104.54503.061.2751.104.5450 4. Contingent liabilitiesNo contingent liabilities exist at the balance sheet date. 5. Collaterals and securitiesNo securities or mortgages exist at the balance sheet date.