34050090 2025-01-01 2025-12-31 34050090 2025-01-01 2025-12-31 2 34050090 2025-01-01 2025-12-31 memberOfBoardIdentifier_executive_board_1 34050090 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_1 34050090 2025-01-01 2025-12-31 memberOfBoardIdentifier_board_of_director_2 34050090 2025-01-01 2025-12-31 1 34050090 2023-01-01 2023-12-31 34050090 2022-01-01 2022-12-31 34050090 2021-01-01 2021-12-31 34050090 2023-12-31 34050090 2022-12-31 34050090 2021-12-31 34050090 2024-01-01 2024-12-31 34050090 2025-01-01 2025-12-31 1 34050090 2024-01-01 2024-12-31 1 34050090 2023-01-01 2023-12-31 1 34050090 2022-01-01 2022-12-31 1 34050090 2021-01-01 2021-12-31 1 34050090 2025-12-31 34050090 2024-12-31 34050090 2025-01-01 fsa:ContributedCapitalMember 34050090 2025-01-01 fsa:RetainedEarningsMember 34050090 2025-01-01 fsa:ProposedDividendRecognisedInEquityMember 34050090 2025-01-01 34050090 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 34050090 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 34050090 2025-01-01 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 34050090 2025-12-31 fsa:ContributedCapitalMember 34050090 2025-12-31 fsa:RetainedEarningsMember 34050090 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 34050090 2025-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 34050090 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 34050090 2025-01-01 2025-12-31 fsa:FixturesFittingsToolsAndEquipmentMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2025-01-01 2024-01-01 2025-12-31 2024-12-31 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Regnskabsklasse C, mellemstor virksomhed Revisionspåtegning true 2026-06-29 Asbjørn Malte Søndergaard The Executive Board and Board of Directors have today considered and adopted the Annual Report of TACTILE R&D ApS for the financial year 1 January - 31 December 2025. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion the Financial Statements give a true and fair view of the financial position at 31 December 2025 of the Company and of the results of the Company operations for 2025. In our opinion, 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 2026-06-29 Asbjørn Malte Søndergaard CEO Asbjørn Malte Søndergaard Morten Nielsen Chairman To the shareholder of TACTILE R&D ApS Opinion 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.We have audited the Financial Statements of TACTILE R&D 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”). Basis for Opinion We 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 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, in our view, Management’s Review 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 Management’s Review. 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 judgement and maintain professional scepticism 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. Hellerup 2026-06-29 PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab 33771231 Leif Ulbæk Jensen Henning Storm State Authorised Public Accountant State Authorised Public Accountant mne23327 mne50616 TACTILE R&D ApS Vestergade, 33, 2. 1456 København K 34050090 Copenhagen Strandvejen 44 2900 Hellerup Seen over a 5-year period, the development of the Company is described by the following financial highlights:Definition of ratios applied is stated under Accounting policies. 102975000 91555000 77687000 1014000 1473000 584000 -665000 -331000 -191000 271000 889000 303000 23047000 19195000 20623000 0 0 323000 32000 0 2488000 2217000 1328000 185 193 172 166 151 0.294 0.264 0.108 0.115 0.064 0.835 1.216 0.115 0.502 0.258 Liquidity ratio 1.415 1.145 1.089 1.102 0.998 Key activitiesTactile R&D ApS is a game development company operating as a subsidiary of Tactile Games ApS. Our primary focus is on developing and maintaining games for mobile devices on behalf of the parent company.Development in the yearTactile R&D reported a net profit after taxes of 8,882,125 DKK, compared to 7.712.433 DKK in 2024. As a development unit operating under Tactile Games ApS, Tactile R&D ApS generates all of its revenue from services delivered to the parent company. The financial result should therefore be viewed in the context of the Group's consolidated performance.In the 2024 Annual Report, management expected profit in 2025 to remain at approximately the same level as in 2024. Profit for 2025 was higher than expected. This was mainly driven by higher development activity than anticipated during the year.Headcount and employee-related costs remained broadly in line with 2024 levels, reflecting stable operations throughout the year.Outlook for the futureThe Company expects to continue providing development and maintenance services to Tactile Games ApS in 2026. Current expectation is that operational costs will reflect a controlled increase in 2026 as we fund new tools and expand our game pipeline, alongside the continuous development of our existing portfolio. Due to the Company's dependence on the Group's development priorities, the level of activity may vary during the year. For 2026, the management expects a result before financial items in line with 2025.Uncertainties relating to recognition or measurementRecognition and measurement in the Annual Report have not been subject to any uncertainty.Unusual eventsNo unusual events occurred during the reporting period.Events occurring after the end of the financial yearNo events have occurred after the end of the financial year that would materially affect the financial position or require disclosure in the financial statements. 129299688 129369701 118608083 121230742 50451 249162 10641154 7889797 1396794 2603512 650241 599920 11387707 9893389 2505582 2180956 8882125 7712433 0 50451 0 50451 0 50451 31418603 33723950 314168 248006 157108 198378 2217273 2858189 34107152 37028523 3580548 1542201 37687700 38570724 37687700 38621175 92600 92600 1990259 2108134 9000000 8000000 11082859 10200734 4290878 5496242 3092275 1056845 2464312 2140848 16757376 19726506 26604841 28420441 26604841 28420441 37687700 38621175 92600 2108134 8000000 10200734 0 0 8000000 8000000 0 -117875 9000000 8882125 92600 1990259 9000000 11082859 111847037 114615636 4345450 4647720 2415596 1967386 118608083 121230742 185 193 The Board of directors does not receive remuneration as the work in the Board is very limited. Consequently remuneration to the Executive Board has not been disclosed in accordance with section 98 B(3) of the Danish Financial Statements Act. 385440 2498071 1011354 105441 1396794 2603512 45306 78285 604935 521635 650241 599920 2464312 2140848 41270 40108 2505582 2180956 9000000 8000000 -117875 -287567 4253996 4253996 4203545 50451 4253996 0 Deferred tax asset at 1 January198,378238,486Amounts recognised in the income statement for the year-41,270-40,108Deferred tax asset at 31 December157,108198,378Property, plant and equipment-198,378-198,378Tax loss carry-forward41,2700Transferred to deferred tax assets157,108198,37800Deferred tax assetCalculated tax assets157,108198,378Carrying amount157,108198,378The deferred tax asset is recognised in the balance sheet based on expectations to the taxable income in the joint taxation scheme within the Tactile Holding Group. Rental and lease obligationsThe company has entered into operational leases with an average annual lease payment of DKK 5,342,000. The leases have 6 months to maturity.Guarantee obligationsSecurity in the form of bank guarantees has been provided for the lessor of premises, DKK 3,073,900Other contingent liabilitiesThe Danish group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable is disclosed in the Annual Report of Tactile Holding ApS, which is the management company of the joint taxation purposes. Moreover, the Danish group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company's liability. Controlling interestTactile Games ApS, Vestergade 33, 2 - 1456 København KHolds 100% of the share capital in the CompanyOther related partiesRelated parties include other companies in the Tactile Group.TransactionsThe Company has chosen only to disclose transactions which have not been made on an arm's length basis in accordance with section 98(c)(6) of the Danish Financial Statements Act. Consolidated Financial StatementsThe Company is included in the Group Annual Report of the Parent Company of the largest and smallest group:Tactile Holding ApSCopenhagenThe Group Annual Report of Tactile Holding ApS may be obtained at the following address:Vestergade 33, 2 - 1456 København K No events materially affecting the assessment of the Company's financial position have occurred after the balance sheet date. The Annual Report of TACTILE R&D ApS for 2025 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to medium-sized enterprises of reporting class C.The accounting policies applied remain unchanged from last year.The Financial Statements for 2025 are presented in DKK. With reference to section 86(4) of the Danish Financial Statements Act and to the cash flow statement included in the consolidated financial statements of Tactile Holding ApS, the Company has not prepared a cash flow statement. Recognition and measurementThe Financial Statements have been prepared under the historical cost method.Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset 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.Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below.Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the maturity period. Amortised cost is calculated as original cost less any repayments and with addition/deduction of the cumulative amortisation of any difference between cost and the nominal amount. In this way, capital losses and gains are allocated over the maturity period.Recognition and measurement take into account predictable losses and risks occurring before the presentation of the Annual Report which confirm or invalidate affairs and conditions existing at the balance sheet date. Leases in terms of which the Company assumes substantially all the risks and rewards of ownership (finance leases) are recognised in the balance sheet at the lower of the fair value of the leased asset and the net present value of the lease payments computed by applying the interest rate implicit in the lease or an alternative borrowing rate as the discount rate. Assets acquired under finance leases are depreciated and written down for impairment under the same policy as determined for the other fixed assets of the Company.The remaining lease obligation is capitalised and recognised in the balance sheet under debt, and the interest element on the lease payments is charged over the lease term to the income statement.All other leases are considered operating leases. Payments made under operating leases are recognised in the income statement on a straight-line basis over the lease term. Translation policiesDanish kroner is used as the presentation currency. All other currencies are regarded as foreign currencies.Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Where foreign exchange transactions are considered hedging of future cash flows, the value adjustments are recognised directly in equity.Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the transaction date rates are recognised in financial income and expenses in the income statement; however, see the section on hedge accounting. RevenueRevenue from the sale of goods is recognised when the risks and rewards relating to the goods sold have been transferred to the purchaser, the revenue can be measured reliably and it is probable that the economic benefits relating to the sale will flow to the Company.Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales.The enterprise has applied IAS 11 and IAS 18 as its basis of interpretation for the recognition of revenue. Other external expensesOther external costs comprise costs incurred for distribution, sales, advertising, administration, premises, loss on receivables, operational leasing costs etc. . Gross profitWith reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue, other operating income, direct expenses and other external expenses. Staff costs include wages and salaries including compensated absence and pensions as well as other social security contributions etc. made to the entity's employees. Amortisation, depreciation and impairment lossesAmortisation, depreciation and impairment losses comprise depreciation and impairment of property, plant and equipment. Other operating income and expensesOther operating income and other operating expenses comprise items of a secondary nature to the main activities of the Company, including gains and losses on the sale of property, plant and equipment. Financial income and expenses comprise interest, financial expenses in respect of finance leases, realised and unrealised exchange adjustments, price adjustment of securities, amortisation of mortgage loans as well as extra payments and repayment under the on-account taxation scheme. Tax on profit/loss for the yearTax for the year consists of current tax for the year and deferred tax for the year. The tax attributable to the profit for year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity.Any changes in deferred tax due to changes to tax rates are recognised in the income statement.The Company is jointly taxed with Tactile Holding ApS. The tax effect of the joint taxation is allocated to Danish enterprises showing profits or losses in proportion to their taxable incomes (full allocation with credit for tax losses). Property, plant and equipment are measured at cost less accumulated depreciation and less any accumulated impairment losses.Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use. Interest expenses on loans contracted directly for financing the construction of property, plant and equipment are recognised in cost over the construction period.Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are:Other fixtures and fittings, tools and equipment3-5 years The fixed assets’ residual values are reassessed annually.Depreciation period and residual value are reassessed annually. Impairment of fixed assetsThe carrying amounts of property, plant and equipment and investments are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by depreciation.The recoverable amount of the asset is calculated as the higher of net selling price and value in use. Where a recoverable amount cannot be determined for the individual asset, the assets are assessed in the smallest group of assets for which a reliable recoverable amount can be determined based on a total assessment. Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Provisions for bad debts are determined on the basis of an individual assessment of each receivable, and in respect of trade receivables, a general provision is also made based on the Company’s experience from previous years. PrepaymentsPrepayments comprise prepaid expenses concerning rent, insurance premiums, subscriptions and interest.Cash on hand and demand depositsCash on hand and demand deposits comprise cash at bank and on hand. DividendDividend distribution proposed by Management for the year is disclosed as a separate Dividend item. Deferred tax assets and liabilitiesDeferred tax is recognised in respect of all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognised in respect of temporary differences concerning goodwill not deductible for tax purposes and other items - apart from business acquisitions - where temporary differences have arisen at the time of acquisition without affecting the profit for the year or the taxable income.Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. In cases where the computation of the tax base may be made according to alternative tax rules, deferred tax is measured on the basis of the intended use of the asset and settlement of the liability, respectively.Deferred tax assets, including the tax base of tax loss carry-forwards, are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities.Deferred tax assets and liabilities are offset within the same legal tax entity. Current tax receivables and liabilitiesCurrent tax receivables and liabilities are recognised in the balance sheet at the amount calculated on the basis of the expected taxable income for the year adjusted for tax on taxable incomes for prior years. Tax receivables and liabilities are offset if there is a legally enforceable right of set-off and an intention to settle on a net basis or simultaneously. Loans, such as loans from credit institutions, are recognised initially at the proceeds received net of transaction expenses incurred. Subsequently, the loans are measured at amortised cost; the difference between the proceeds and the nominal value is recognised as an interest expense in the income statement over the loan period.Other debts are measured at amortised cost, substantially corresponding to nominal value. Financial HighlightsExplanation of financial ratiosSolvency ratioEquity at year end x 100 / Total assets at year endReturn on equityNet profit for the year x 100 / Average equityLiquidity ratioCurrent assets x 100 / Short term liabilities