40547746 2025-01-01 2025-12-31 40547746 2025-01-01 2025-12-31 1 40547746 2024-01-01 2024-12-31 40547746 2025-12-31 40547746 2024-12-31 40547746 2025-01-01 d:CompletedDevelopmentProjectsMember 40547746 2025-01-01 2025-12-31 d:CompletedDevelopmentProjectsMember 40547746 2025-01-01 d:FixturesFittingsToolsAndEquipmentMember 40547746 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 40547746 2025-01-01 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 40547746 2025-01-01 d:DepositsLongtermInvestmentsAndReceivablesMember 40547746 2025-01-01 2025-12-31 d:DepositsLongtermInvestmentsAndReceivablesMember 40547746 2025-12-31 d:DepositsLongtermInvestmentsAndReceivablesMember 40547746 2025-12-31 d:DepositsLongtermLiabilitiesOtherThanProvisionsMember 40547746 2025-12-31 d:OtherLongtermPayablesMember 40547746 2025-01-01 d:ContributedCapitalMember 40547746 2024-01-01 d:ContributedCapitalMember 40547746 2025-12-31 d:ContributedCapitalMember 40547746 2024-12-31 d:ContributedCapitalMember 40547746 2025-01-01 d:ReserveForDevelopmentExpenditureMember 40547746 2024-01-01 d:ReserveForDevelopmentExpenditureMember 40547746 2025-01-01 2025-12-31 d:ReserveForDevelopmentExpenditureMember 40547746 2024-01-01 2024-12-31 d:ReserveForDevelopmentExpenditureMember 40547746 2025-12-31 d:ReserveForDevelopmentExpenditureMember 40547746 2024-12-31 d:ReserveForDevelopmentExpenditureMember 40547746 2025-01-01 d:RetainedEarningsMember 40547746 2024-01-01 d:RetainedEarningsMember 40547746 2025-01-01 2025-12-31 d:RetainedEarningsMember 40547746 2024-01-01 2024-12-31 d:RetainedEarningsMember 40547746 2025-12-31 d:RetainedEarningsMember 40547746 2024-12-31 d:RetainedEarningsMember 40547746 2025-01-01 2025-12-31 1 40547746 2025-01-01 2025-12-31 2 iso4217:DKK xbrli:pure Årsrapport 34209936 Grant Thornton, Godkendt Revisionspartnerselskab Lautrupsgade, 11 2100, København Ø 2024-01-01 2024-12-31 2025-01-01 2025-12-31 40547746 Bolt Rides DK ApS Kristen Bernikows Gade 13 1105 København K Grant Thornton, Godkendt Revisionspartnerselskab 34209936 Peter Birk Stokholm statsautoriseret revisor mne48468 Lautrupsgade 11 2100 København Ø Danmark +45 33 110 220 info@dk.gt.com 2026-06-29 Ahto Kink Regnskabsklasse B Revisionspåtegning Ja CaseWare fra Revisorgruppen Danmark anpartshaverne København 2026-06-29 København K 2026-06-29 Grundlag for konklusion Konklusion 3901955 6308737 6705994 4977641 734417 871586 2076360 256227 -5614816 203283 0 59996 703983 242280 -6318799 20999 -1364000 5006 -4954799 15993 -4310239 466610 -644560 -450617 0 2076359 0 2076359 614199 1348615 614199 1348615 219125 119125 219125 119125 833324 3544099 1910357 1214196 12120372 27148599 0 66016 942781 0 146143 0 4338 0 15123991 28428811 13184148 25781 28308139 28454592 29141463 31998691 0 510000 510000 0 644560 -1834523 2475716 -1324523 3630276 0 362673 0 362673 5690129 4311901 260542 249357 5950671 4561258 1220640 2164937 0 2149675 3742532 18259106 18361152 306 1190991 870460 24515315 23444484 30465986 28005742 29141463 31998691 6470906 4272855 73752 281946 36729 91111 124607 331729 6705994 4977641 10 10 352836 0 351147 242280 703983 242280 4138566 4138566 -2062207 -2062207 1791522 1791522 442907 734416 1177323 614199 119125 100000 219125 219125 1220640 807567 0 260542 510000 510000 510000 510000 644560 1095177 -644560 -450617 0 644560 2475716 2009107 -4310239 466610 0 -1 -1834523 2475716 Today, the Executive Board has approved the annual report of Bolt Rides DK ApS for the financial year 1 January - 31 December 2025. The annual report has been prepared in accordance with the Danish Financial Statements Act. We consider the chosen accounting policy to be appropriate, and in our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January – 31 December 2025. Further, in our opinion, the Management's review gives a true and fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the Annual General Meeting. Ahto Kink Lars Josephus Cornelis Speekenbrink We have audited the financial statements of Bolt Rides DK ApS for the financial year 1 January - 31 December 2025, which comprise income statement, balance sheet, statement of changes in equity, notes and a summary of significant accounting policies, for the Company. The financial statements are prepared under the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the Company 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 OpinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements 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 (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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 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 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 misstatement 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 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 misstatement 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 preparing 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 inadequate, 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 disclosures, 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 ReviewManagement 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 statements 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. Description of key activities of the companyThe Company’s activities comprise operating a platform for the intermediation of passenger transport through digital solutions, matching passengers with independent drivers. Significant changes in the company's activities and financial mattersThe gross profit for the year totals DKK 3.902thousand against DKK 6.309 last year. Profit or loss from ordinary activities after tax totals DKK -4.955thousand against DKK 16 last year. Management considers the net profit or loss for the year as expected. The company's net result is affected by disposal of development costs, which has impacted profit for the year by DKK 2.076 thousand. Reference is made to note 2, special items, for further details. The Company was acquired during the financial year by Bolt Holdings OÜ. The acquisition forms part of the Bolt group’s broader strategic expansion and is expected to strengthen the Company’s market position and support its future growth and development. Following the transaction, the Company is now integrated into the Bolt Group and benefits from access to the group’s resources, operational expertise and financial backing. The company is subject to the capital loss rules under the danish companis act. The capital is expected to be restored through the company’s own operations. The company has received a letter of support from its ultimate parent company, Bolt Technology OÜ. The letter of support ensures the company’s liquidity until December 31, 2026.   Events occurring after the end of the financial yearNo subsequent events affecting the company's financial position have occurred after 31 December 2025. 1.Capital ressourcesThe company is subject to the capital loss rules under the danish companis act. The capital is expected to be restored through the company’s own operations. The company has received a letter of support from its ultimate parent company, Bolt Technology OÜ. The letter of support ensures the company’s liquidity until December 31, 2026. 2.Special itemsSpecial items include losses recognised related to disposals of intangible assets following the implementation of a new POS-system, resulting in the previous system being decommissioned. Special items for the year are specified below, indicating where they are recognised in the income statement. Expenses: Loss on disposal of development projects2.076.3600Expenses related to payroll compensation0256.227 2.076.360256.227Special items are recognised in the following items in the financial statements: Other operating expenses-2.076.360-256.227 Profit of special items, net-2.076.360-256.227 9.Charges and securityThere are no charges and securities as of 31. December 2025. 10.Contractual obligations and contingencies, etc. DKK in thousands Lease liabilities150.000 Total contractual obligations150.000 Total contingent liabilities0 Total contractual obligations and contingent liabilities150.000 Joint taxationWith Bolt Services DK ApS, company reg. no 42275824 as administration company, the company is subject to the Danish scheme of joint taxation and unlimitedly, jointly, and severally liable, along with the other jointly taxed companies, for the total corporation tax. The company is unlimitedly, jointly, and severally liable, along with the other jointly taxed companies, for any obligations to withhold tax on interest, royalties, and dividends. The annual report for Bolt Rides DK ApS has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class B enterprises. Furthermore, the company has decided to comply with certain rules applying to reporting class C enterprises. The accounting policies are unchanged from last year, and the annual report is presented in DKK. Gross profitGross profit comprises the revenue, direct costs, other operating income, and external costs. The enterprise will be applying IAS 18 as its basis of interpretation for the recognition of revenue.  The company acts as an agent and revenue comprises the net commission earned on rides facilitated through the Bolt platform, together with intercompany revenue, service fees and other related income.  Revenue comprises the value of services provided during the year, including outlay for customers less VAT and price concessions directly associated with the sale. Revenue is recognised in the income statement on the completion of sales. This is generally considered to be the case when:The service has been provided before the end of the financial yearA binding sales agreement existsThe sales price has been determinedPayment has been received, or is anticipated with a reasonable degree of certainty. This ensures that recognition does not take place until the total income and costs and stage of completion at the reporting date can be reliably validated and it seems probable that the economic benefits, including payments, will flow to the enterprise. Cost of sales comprises costs concerning purchase of raw materials and consumables less discounts and changes in inventories. Other external expenses comprise expenses incurred for distribution, sales, advertising, administration, premises, loss on receivables, and operational leasing costs. Staff costsStaff costs include salaries and wages, including holiday allowances, pensions, and other social security costs, etc., for staff members. Depreciation, amortisation, and write-down for impairmentDepreciation, amortisation, and write-down for impairment comprise depreciation on, amortisation of, and write-down for impairment of intangible and tangible assets, respectively. Other operating expensesOther operating expenses comprise items of secondary nature as regards the principal activities of the enterprise, including losses on the disposal of intangible and tangible assets. Financial income and expensesFinancial income and expenses are recognised in the income statement with the amounts concerning the financial year. Financial income and expenses comprise interest income and expenses, financial expenses from financial leasing, realised and unrealised capital gains and losses relating to securities, debt and transactions in foreign currency, amortisation of financial assets and liabilities as well as surcharges and reimbursements under the advance tax scheme, etc. Tax on net profit or loss for the yearTax for the year comprises the current income tax for the year and changes in deferred tax and is recognised in the income statement with the share attributable to the net profit or loss for the year and directly in equity with the share attributable to entries directly in equity.  The company is subject to Danish rules on compulsory joint taxation of Danish group enterprises. The current Danish income tax is allocated among the jointly taxed companies proportional to their respective taxable income (full allocation with reimbursement of tax losses). Intangible assetsDevelopment projects, patents, and licencesDevelopment costs comprise salaries, wages, and amortisation directly attributable to development activities. Clearly defined and identifiable development projects are recognised as intangible assets provided that they are proven to be technically practicable, that sufficient resources and a potential market or development opportunity exist, and insofar as the intention is to produce, market or utilise the project. It is, however, a condition that the cost can be reliably calculated and that a sufficiently high degree of certainty indicates that future earnings will cover the costs of production, sales, and administration. Other development costs are recognised in the income statement concurrently with their realisation. Development costs recognised in the statement of financial position are measured at cost less accrued amortisations and write-downs for impairment. After completion of the development work, capitalised development costs are amortised on a straight-line basis over the estimated useful economic life. The amortisation period is 5 years. Profit and loss from the sale of development projects, patents, and licenses are measured as the difference between the sales price less sales costs and the carrying amount at the time of sale. Profit or loss are recognised in the income statement as other operating income or other operating expenses, respectively. Property, plant, and equipmentLand and buildings is measured at cost plus revaluations and less accrued depreciation and write-down for impairment. Land is not subject to depreciation. Land and buildings is revaluated on the basis of regular, independent fair-value assessments. Net revaluation at fair value adjustment is recognised directly in equity less deferred tax and tied up in a particular revaluation reserve. Net impairment loss at fair value adjustment is recognised in the income statement. The depreciable amount is cost plus revaluations at fair value less expected residual value after the end of the useful life of the asset. The amortisation period is fixed at the acquisition date and reassessed annually. If the residual value exceeds the carrying mount of the asset, depreciation is discontinued. Reversal of previous revaluations and recognised deferred taxes concerning revaluations are recognised directly in company equity. Other property, plant, and equipment are measured at cost less accrued depreciation and write-down for impairment. The depreciable amount is cost less any expected residual value after the end of the useful life of the asset. The amortisation period and the residual value are determined at the acquisition date and reassessed annually. If the residual value exceeds the carrying amount, the depreciation is discontinued. Depreciation is done on a straight-line basis according to an assessment of the expected useful life: Useful lifeOther fixtures and fittings, tools and equipment3-5years Minor assets with an expected useful life of less than 1 year are recognised as costs in the income statement in the year of acquisition. Profit or loss derived from the disposal of property, land, and equipment is measured as the difference between the sales price less selling costs and the carrying amount at the date of disposal. Profit or loss is recognised in the income statement as other operating income or other operating expenses. LeasesThe enterprise will be applying IAS 17 as its base of interpretation for recognition of classification and recognition of leases. At their initial recognition in the statement of financial position, leases concerning property, plant, and equipment where the company holds all essential risks and advantages associated with the proprietary right (finance lease) are measured either at fair value of the asset being leased or at the present value of the future lease payments, whichever value is lower. When calculating the present value, the discount rate used is the internal rate of return of the lease or, alternatively, the borrowing rate of the enterprise. Hereafter, assets held under a finance lease are treated in the same way as other similar property, plant, and equipment. The capitalised residual lease commitment is recognised in the statement of financial position as a liability other than provisions, and the interest part of the lease is recognised in the income statement for the term of the contract. All other leases are regarded as operating leases. Payments in connection with operating leases and other lease agreements are recognised in the income statement for the term of the contract. The company's total liabilities concerning operating leases and lease agreements are recognised under contingencies, etc. DepositsDeposits are measured at amortised cost and represent lease deposits, etc. Impairment loss relating to non-current assetsThe carrying amount of both intangible and tangible fixed assets are subject to annual impairment tests in order to disclose any indications of impairment beyond those expressed by amortisation and depreciation respectively. If indications of impairment are disclosed, impairment tests are carried out for each individual asset or group of assets, respectively. write-down for impairment is done to the recoverable amount if this value is lower than the carrying amount. The recoverable amount is the higher value of value in use and selling price less expected selling cost. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the asset group and expected net cash flows from the sale of the asset or the asset group after the end of their useful life. Previously recognised impairment losses are reversed when conditions for impairment no longer exist. Impairment relating to goodwill is not reversed. ReceivablesReceivables are measured at amortised cost, which usually corresponds to nominal value. In order to meet expected losses, impairment takes place at the net realisable value. The company has chosen to use IAS 39 as a basis for interpretation when recognising impairment of financial assets, which means that impairments must be made to offset losses where an objective indication is deemed to have occurred that an account receivable or a portfolio of accounts receivable is impaired. If an objective indication shows that an individual account receivable has been impaired, an impairment takes place at individual level. Accounts receivable for which there is no objective indication of impairment at the individual level are evaluated at portfolio level for objective indication of impairment. The portfolios are primarily based on the debtors' domicile and credit rating in accordance with the company's and the group's credit risk management policy. Determination of the objective indicators applied for portfolios are based on experience with historical losses. Impairment losses are calculated as the difference between the carrying amount of accounts receivable and the present value of the expected cash flows, including the realisable value of any securities received. The effective interest rate for the individual account receivable or portfolio is used as the discount rate. PrepaymentsPrepayments recognised under assets comprise incurred costs concerning the following financial year. Cash and cash equivalentsCash and cash equivalents comprise cash at bank. EquityReserve for development costsThe reserve for development costs comprises recognised development costs less related deferred tax liabilities. The reserve cannot be used as dividends or for covering losses. The reserve is reduced or dissolved if the recognised development costs are amortised or abandoned. This is done by direct transfer to the distributable reserves of the equity. Income tax and deferred taxCurrent tax liabilities and current tax receivable are recognised in the statement of financial position as calculated tax on the taxable income for the year, adjusted for tax of previous years' taxable income and for tax paid on account. The company is jointly taxed with consolidated Danish companies. The current corporate income tax is distributed between the jointly taxed companies in proportion to their taxable income and with full distribution with reimbursement as to tax losses. The jointly taxed companies are comprised by the Danish tax prepayment scheme. Joint taxation contributions payable and receivable are recognised in the statement of financial position as ”Tax receivables from group enterprises" or "Income tax payable to group enterprises" According to the rules of joint taxation, Bolt Rides DK ApS is unlimitedly, jointly, and severally liable to pay the Danish tax authorities the total income tax, including withholding tax on interest, royalties, and dividends, arising from the jointly taxed group of companies. Deferred tax is measured on the basis of temporary differences in assets and liabilities with a focus on the statement of financial position. Deferred tax is measured at net realisable value. Adjustments take place in relation to deferred tax concerning elimination of unrealised intercompany gains and losses. Deferred tax is measured based on the tax rules and tax rates applying under the legislation prevailing in the respective countries on the reporting date when the deferred tax is expected to be released as current tax. Changes in deferred tax due to changed tax rates are recognised in the income statement, except for items included directly in the equity. Deferred tax assets, including the tax value of tax losses allowed for carryforward, are recognised at the value at which they are expected to be realisable, either by settlement against tax of future earnings or by set-off in deferred tax liabilities within the same legal tax unit. Any deferred net tax assets are measured at net realisable value. Liabilities other than provisionsFinancial liabilities other than provisions related to borrowings are recognised at the received proceeds less transaction costs incurred. In subsequent periods, the financial liabilities are recognised at amortised cost, corresponding to the capitalised value when using the effective interest rate. The difference between the proceeds and the nominal value is recognised in the income statement during the term of the loan. Other liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value.