40369813 2025-01-01 2025-12-31 40369813 2025-01-01 2025-12-31 1 40369813 2025-01-01 2025-12-31 2 40369813 2025-01-01 2025-12-31 3 40369813 2025-01-01 2025-12-31 1 40369813 2025-01-01 2025-12-31 2 40369813 2025-01-01 2025-12-31 3 40369813 2025-01-01 2025-12-31 4 40369813 2025-01-01 2025-12-31 5 40369813 2025-01-01 2025-12-31 6 40369813 2025-01-01 2025-12-31 1 40369813 2024-01-01 2024-12-31 40369813 2025-12-31 40369813 2024-12-31 40369813 2025-01-01 c:ContributedCapitalMember 40369813 2025-01-01 c:ReserveForDevelopmentExpenditureMember 40369813 2025-01-01 c:RetainedEarningsMember 40369813 2025-01-01 2025-12-31 c:RetainedEarningsMember 40369813 2025-01-01 2025-12-31 c:ReserveForDevelopmentExpenditureMember 40369813 2025-12-31 c:ContributedCapitalMember 40369813 2025-12-31 c:ReserveForDevelopmentExpenditureMember 40369813 2025-12-31 c:RetainedEarningsMember 40369813 2025-01-01 c:CompletedDevelopmentProjectsMember 40369813 2025-01-01 c:GoodwillMember 40369813 2025-01-01 2025-12-31 c:CompletedDevelopmentProjectsMember 40369813 2025-01-01 2025-12-31 c:GoodwillMember 40369813 2025-12-31 c:CompletedDevelopmentProjectsMember 40369813 2025-12-31 c:GoodwillMember 40369813 2025-01-01 c:FixturesFittingsToolsAndEquipmentMember 40369813 2025-01-01 c:LeaseholdImprovementsMember 40369813 2025-01-01 2025-12-31 c:FixturesFittingsToolsAndEquipmentMember 40369813 2025-01-01 2025-12-31 c:LeaseholdImprovementsMember 40369813 2025-12-31 c:FixturesFittingsToolsAndEquipmentMember 40369813 2025-12-31 c:LeaseholdImprovementsMember 40369813 2025-01-01 c:InvestmentsInGroupEnterprisesMember 40369813 2025-01-01 c:DepositsLongtermInvestmentsAndReceivablesMember 40369813 2025-01-01 2025-12-31 c:InvestmentsInGroupEnterprisesMember 40369813 2025-01-01 2025-12-31 c:DepositsLongtermInvestmentsAndReceivablesMember 40369813 2025-12-31 c:InvestmentsInGroupEnterprisesMember 40369813 2025-12-31 c:DepositsLongtermInvestmentsAndReceivablesMember iso4217:DKK xbrli:pure true BDO Statsautoriseret Revisionspartnerselskab Havneholmen 2, 6. sal DK-2450 Copenhagen SV 45719375 2026-06-22 Peter Søren Bæch Årsrapport Kanpla ApS Søndergade 44, 3. 8000 Aarhus C Den uafhængige revisors erklæring om udvidet gennemgang 40369813 2019-03-23 Aarhus 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 Kanpla 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. Aarhus 2026-06-22 Jonas Sylvester Candsi Gøttler Peter Søren Bæch Robert Wolf Janus Benn Sørensen Chairman Jeppe Uhd Jonas Sylvester Candsi Gøttler Peter Søren Bæch Robert Wolf Jan Nicolaas Andriessen To the Shareholder of Kanpla ApS Konklusion We ha­ve per­for­med an extended review of the Fi­nan­ci­al Sta­te­ments of Kanpla 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 2026-06-22 BDO Statsautoriseret Revisionspartnerselskab 45719375 Mads Juul Hansen Den uafhængige revisors erklæring om udvidet gennemgang State Authorised Public Accountant mne44386 Principal activities Kanpla ApS excels in providing innovative solutions for canteen management and catering services, focusing on software development and digital transformation.   Development in activities and financial and economic position In 2025, we achieved a 71% increase in revenue, demonstrating effective market strategies and growing platform adoption. Despite a reported loss, our strategic investments were essential for long-term growth and international expansion, including our entry into the American market. The current year is in line with expectations, and significant investments have been made in the company's growth. The income statement shows a loss for the year of DKK'000 20,562, and at 31 December 2025 the balance sheet shows equity of DKK'000 18,270. Kanpla is well-positioned for continued growth and market leadership. Our strategic investments and focus on innovation ensure long-term profitability and expansion, paving the way for significant future success and industry impact. International Expansion and Strategic Investments Our robust financial position has enabled us to invest significantly in R&D. The completion of major development projects further solidified our leadership in digital transformation within the industry. In addition, we have also invested in establishing a local presence in key markets, including the United States, while strengthening our market share across the UK, Benelux and the Nordics.   Significant events after the end of the financial year The Company has subsequently obtained an additonal DKK'000 15,000 through a loan from existing investors. No other events have occurred after the end of the financial year of material importance for the Company's financial position.   2104187 4176942 20104993 12419416 1789228 746205 6782 0 -19796816 -8988679 472180 499064 1237104 911872 -20561740 -9401487 0 0 -20561740 -9401487 -20561740 -9401487 -20561740 -9401487 8933624 5740145 764150 1059950 9697774 6800095 512794 357415 16071 21146 528865 378561 6362 0 246029 379362 252391 379362 10479030 7558018 5807121 3135162 2118029 0 1778396 1404976 678651 405111 10382197 4945249 28497175 41579133 38879372 46524382 49358402 54082400 59711 59711 6968228 4477313 11242339 34294994 18270278 38832018 20380429 7140200 1148719 866824 1083796 0 1088644 797784 10707695 8110182 31088124 15250382 49358402 54082400 DKKSha­re ca­pi­talReserve for development costsRetained earningsTotal Equity at 1 January 202559.7114.477.31334.294.99438.832.018 Proposed profit allocation -20.561.740-20.561.740 Other legal bindingsCapitalized development costs 4.472.539-4.472.5390 TransfersAmortisation -1.279.0591.279.0590 Tax on changes in equity -702.565702.5650 Equity at 31 December 202559.7116.968.22811.242.33918.270.278 59711 4477313 34294994 -20561740 4472539 -4472539 -1279059 1279059 -702565 702565 59711 6968228 11242339 1 | Staff costs Ave­ra­ge num­ber of full ti­me em­ploy­ees4225 Wages and salaries 18.300.19511.443.136 Pensions 1.531.505715.551 Social security costs 266.223181.729 Other staff costs 7.07079.000 20.104.99312.419.416 42 25 18300195 11443136 1531505 715551 266223 181729 7070 79000 20104993 12419416 2 | Other financial income Other interest income 472.180499.064 472.180499.064 472180 499064 472180 499064 3 | Other financial expenses Other interest expenses 1.237.104911.872 1.237.104911.872 1237104 911872 1237104 911872 4 | Intangible assets DKKDevelopment projects completed, including patents and similar rights originating from development projectsGoodwill Cost at 1 January 2025 6.395.2971.479.000 Additions 4.472.5390 Cost at 31 December 2025 10.867.8361.479.000 Amortisation at 1 January 2025 655.153419.050 Amortisation for the year 1.279.059295.800 Amortisation at 31 December 2025 1.934.212714.850 Carrying amount at 31 December 20258.933.624764.150 Completed development projects include the development of the canteen platform Kanpla, including new features that the company's management expects will set new standards in digitalization and online presence for canteens. Costs primarily consist of salaries for own employees and dedicated consultants. The book value of completed development projects amounts to DKK'000 8,934 as of December 31, 2025. 6395297 1479000 4472539 0 10867836 1479000 655153 419050 1279059 295800 1934212 714850 8933624 764150 5 | Property, plant and equipment DKKOther plant, fixtures and equipmentLeasehold improvements Cost at 1 January 2025 466.07925.375 Additions 393.4690 Disposals -67.7770 Cost at 31 December 2025 791.77125.375   Depreciation and impairment losses at 1 January 2025 108.6654.229 Reversal of depreciation of assets disposed of -38.9820 Depreciation for the year 209.2945.075 Depreciation and impairment losses at 31 December 2025 278.9779.304 Carrying amount at 31 December 2025512.79416.071 466079 25375 393469 0 67777 0 791771 25375 108665 4229 38982 0 209294 5075 278977 9304 512794 16071 6 | Financial non-current assets DKKInvestments in subsidiariesRent deposit and other receivables Cost at 1 January 2025 0379.362 Additions 6.36230.665 Disposals 0-163.998 Cost at 31 December 2025 6.362246.029   Carrying amount at 31 December 20256.362246.029 0 379362 6362 30665 0 163998 6362 246029 6362 246029 7 | Long-term liabilities 31/12 2025RepaymentDebt outstanding31/12 2024DKKtotal liabilitiesnext yearafter 5 yearstotal liabilities Other non-current liabilities 21.844.7911.464.36207.925.385 21.844.7911.464.36207.925.385 0 Other financial commitments The company has entered into lease obligations that, as of the balance sheet date, amount to DKK'000 540 during the notice period.   The company has entered into an agreement with the lender regarding an exit premium on a loan with a principal amount of DKK'000 1,500. The exit premium amounts to a sum equivalent to 5% of the increase in value of the borrower, but a maximum of the loan's principal amount, equivalent to DKK'000 1,500.    The company has entered into an agreement with the lender regarding an exit premium on a loan with a principal amount of DKK'000 6,000. The exit premium amounts to a sum equivalent to 5% of the increase in value of the borrower, but a maximum of 20% of the loan's principal amount, equivalent to DKK'000 1,200.    The company has entered into an agreement with the lender regarding an exit premium on a loan with a principal amount of DKK'000 14,850. The exit premium amounts to a sum equivalent to 5% of the increase in value of the borrower, but a maximum of 20% of the loan's principal amount, equivalent to DKK'000 2,970. 9 | Charges and securities As security for a loan with the Danish Export and Investment Fund amounting to DKK'000 22,391 the company has provided a corporate charge of nominally DKK'000 22,350. The corporate charge covers the following assets, whose accounting value as of the balance sheet date is:   Completed development projects, including patents and similar rights arising from development projects 8.933.624 Goodwill764.150 Other plant, fixtures and equipment512.794 Trade receivables5.807.121 The Annual Report of Kanpla 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 B1truetrueThe Annual Report is prepared consistently with the accounting principles applied last year.   Regnskabsklasse B true Net revenue Revenue 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 consideration fixed.   Cost of sales Cost of sales comprise costs incurred to achieve the net revenue for the year, including direct and indirect costs 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.    Work performed for own account and capitalized under assets Work performed for own account and capitalized under assets includes costs regarding personnel and external consultant.   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.   Other operating expenses Other operating expenses include items of a secondary nature in relation to the Company’s activities. Losses from sale of intangible and tangible fixed assets are also included.   Income from investments in subsidiaries Dividend from sub­si­dia­ri­es is recognised in the financial year in which the dividend is declared. In connection with transfers, potential profits are recognised when the economic rights related to the sold equity interests are transferred, however, at the earliest when the profit has been realised or is regarded as realisable. Moreover, realised losses other than impairments are included where identified.   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 5 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.   Development projects comprise costs, including wages and salaries, and amortisation, which directly or indirectly can be related to the Company’s development activities and which fulfil the criteria for recognition in the Balance Sheet.   The accounting item is measured at the lower of the capitalised costs less accumulated amortisation and recoverable amount. Capitalised development costs are amortised on a straight-line basis over the estimated useful life after completion of the development work. The amortisation period is normally 5 years.   Intangible fixed assets are generally written down to the recoverable amount if this is lower than the carrying amount.   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.    Property, plant and equipment Other plant, fixtures and equipment are measured at cost less accumulated depreciation and impairment losses.   The depreciation base is cost less estimated residual value after end of useful life.   The cost includes the acquisition price and costs incurred directly in connection with the acquisition until the time when the asset is ready to be used.    Straight-line depreciation is provided on the basis of an assessment of the expected useful lives of the assets and their residual value:   Useful lifeOther plant, fixtures and equipment 5 years0 % Profit or loss on sale of property, plant and equipment is stated as the difference between the sales price less selling costs and the carrying amount at the date of sale. Profit or loss is recognised in the Income Statement as other operating income or other operating expenses.   Financial non-current assets Investments in sub­si­dia­ri­es are measured at cost. If the cost exceeds the net realisable value, this is written down to the lower value.   Deposits include rental deposits which are recognised and measured at cost. Deposits are not depreciated.   Impairment of fixed assets The carrying amount of in­tan­gib­le fi­xed and pro­per­ty, plant and equip­ment to­get­her with fi­xed as­sets, which are not mea­su­red at fair va­lue,, 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.   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.   Accruals, liabilities Accruals recognised as liabilities include payments received regarding income in subsequent years.   Foreign currency translation Transactions in foreign currencies are translated at the rate of exchange on the transaction date. Exchange differences arising between the rate on the transaction date and the rate on the payment date are recognised in the Income Statement as a financial income or expense. Receivables, payables and other monetary items in foreign currencies that are not settled on the Balance Sheet date are translated at the exchange rate on the Balance Sheet date. The difference between the exchange rate on the Balance Sheet date and the exchange rate at the date when the receivables or payables come into existence recognised in the Income Statement as financial income or expenses.