43951912 2025-01-01 2025-12-31 43951912 2025-01-01 2025-12-31 1 43951912 2025-01-01 2025-12-31 1 43951912 2025-01-01 2025-12-31 2 43951912 2025-01-01 2025-12-31 3 43951912 2025-01-01 2025-12-31 4 43951912 2025-01-01 2025-12-31 1 43951912 2025-01-01 2025-12-31 2 43951912 2024-01-01 2024-12-31 43951912 2025-12-31 43951912 2024-12-31 43951912 2024-12-31 fsa:ContributedCapitalMember 43951912 2024-12-31 fsa:RetainedEarningsMember 43951912 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 43951912 2025-12-31 fsa:ContributedCapitalMember 43951912 2025-12-31 fsa:RetainedEarningsMember iso4217:DKK xbrli:pure Annual report 2026-06-25 Ignace De Paepe The Board of Directors and the Executive Board have today considered and approved the annual report of MG Ringsted I ApS for the financial year 01.01.2025 - 31.12.2025. The annual report is presented in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2025and of the results of its operations for the financial year 01.01.2025 - 31.12.2025. We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. We recommend the annual report for adoption at the Annual General Meeting. Copenhagen Ignace De Paepe Stacey Smits Anton Van Vlerken Ignace Tytgat Anja Tackaert To the shareholders of MG Ringsted I ApS We have performed an extended review of the financial statements of MG Ringsted I ApS for the ​financial year 01.01.2025 - 31.12.2025, which comprise the income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. ​​​Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s ​​financial position at 31.12.2025 and of the results of its operations for the financial year 01.01.2025 - 31.12.2025in accordance with the Danish Financial Statements Act. We conducted our extended review in accordance with the assurance engagement standard for small enterprises ​as issued by the Danish Business Authority and the standard on extended review of financial statements ​prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. We are independent of the Entity in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. Effective from this financial year, the Entity is required to have its financial statements audited, and it has been decided in this connection to subject the financial statements to extended review. We point out that, as disclosed in the financial statements, the comparative figures in the financial statements have not been subjected to extended review or audit. 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 Entity’s ability to continue ​as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so. Our responsibility is to express a conclusion on the financial statements. This requires that we plan and ​perform procedures to obtain limited assurance about our conclusion on the financial statements and that ​we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion.​​An extended review consists of making inquiries, primarily of Management and, if appropriate, of other entity ​personnel, performing analytical and the specifically required supplementary procedures as well as evaluating ​the evidence obtained.​​The procedures performed in an extended review are less in scope than in an audit, and accordingly we do ​not express an audit opinion on the financial statements. 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 in the extended review or otherwise appears to be ​materially misstated. ​​Moreover, it is our responsibility to consider whether the management commentary provides the information ​required by relevant law and regulations.Based on the work we have performed, we conclude that the management commentary is in accordance with ​financial statements and has been prepared in accordance with the requirements in the relevant law and regulations. We did not identify any material misstatement of the management commentary. Copenhagen Deloitte Statsautoriseret Revisionspartnerselskab Deloitte Statsautoriseret Revisionspartnerselskab 33963556 33963556 René Carøe Andersen State Authorised Public Accountant mne34499 Niels Frøland Johansen State Authorised Public Accountant mne50624 Primary activitiesThe Entity’s primary activity is construction of property and related business.​​The company has lost the share capital and is therefore subject to the provisions of the Danish Companies Act regarding capital loss. ​Mangement expects the capital to be restored through earnings, or alternatevily through a capital increase from the shareholders. ​​Going concern is depended on the provision of addional liquidity. The company has received a financial a letter of​support from the parent company MG RE Invest S.A. in which it is stated that MG RE Invest S.A. will provide the necessary financial support to the company for the foreseeable future, being a period of at least 12 months from 31. december 2025. ​Based on this, the financial statements for 2025 have been prepared under the assumption of going concern. Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. -131638 -192640 0 431499 3598481 3404766 -3730119 -3165907 201881 -513241 -3932000 -2652666 -3932000 -2652666 -3932000 -2652666 102757186 72161374 102757186 72161374 102757186 72161374 10920149 0 0 628000 7632597 209338 366637 0 29299 0 18948682 837338 499832 1786831 19448514 2624169 122205700 74785543 50000 50000 -7033315 -3101315 -6983315 -3051315 52558161 0 52558161 0 3844012 20000 72786842 77816858 76630854 77836858 129189015 77836858 122205700 74785543 50000 -3101315 -3051315 -3932000 -3932000 50000 -7033315 -6983315 1 Judgements regarding going concernMG Ringsted I ApS has received a letter of support from the parent company MG RE Invest S.A. in which it is statet​that MG RE Invest S.A. will provide the necessary financial support to MG Ringsted I ApS for the foreseeable future, being a period of at least 12 months from 31. december 2025. ​Based on this, the financial statements for 2025 have been prepared under the assumption of going concern. 2 Other financial income ​2025​DKK2024​DKKOther interest income0431,4990431,499 3 Other financial expenses2025​DKK2024​DKKFinancial expenses from group enterprises3,496,2143,298,134Other interest expenses10134,716Exchange rate adjustments87,06064,582Other financial expenses15,1067,3343,598,4813,404,766 4 Tax on profit/loss for the year2025​DKK2024​DKKChange in deferred tax568,518(513,241)Refund in joint taxation arrangement(366,637)0201,881(513,241) 5 Property, plant and equipmentProperty, plant and equipment in progress​DKKCost beginning of year72,161,374Additions30,595,812Cost end of year102,757,186Carrying amount end of year102,757,186 6 Non-current liabilities other than provisionsDue after more than 12 months​2025​DKKBank loans52,558,16152,558,161The Entity has no bank loans maturing 5 years after the balance sheet date. 7 EmployeesThe Entity has no employees other than the Executive Board. The Executive Officer has not received any ​remuneration.20252024Average number of full-time employees00 0 0 8 Other unrecognised commitmentsThe company has entered a construction contract relating to the ongoing project. The commitment related to construction amounts to t.kr. 181.236 as per 31.12.2025. 9 Contingent assetsAs per 31.12.2025, the Entity has an unrecognised deferred tax asset of 1.051 t.kr. 10 Contingent liabilitiesThe Entity participates in a Danish joint taxation arrangement where MG Projekter ApS serves as the ​administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity ​is therefore liable for income taxes etc for the jointly taxed entities. The jointly taxed entities' total known net ​liability under the joint taxation arrangement is disclosed in the administration company's financial statements. 11 Assets charged and collateralThe Entity has pledged its real estate property located at Jordemodervej, 3299 Ringsted, as security for a credit facility provided by Belfius Bank NV. The property, which in the balance sheet has a value of 102.757 t.kr., is subject to a first-ranking mortgage in the amount of t.EUR 2.775 (approximately 20.726 t.kr. as of 31.12.2025). This annual report has been presented in accordance with the provisions of the Danish Financial Statements ​Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year.Effective from this financial year, the Entity is required to have its financial statements audited, and it has been decided in this connection to subject the financial statements to extended review. The comparative figures in the financial statements, including disclosures in the notes, have not been subjected to extended review or audit. Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic ​benefits will flow to the Entity, and the value of the asset can be measured reliably. ​​Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a ​result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the ​value of the liability can be measured reliably. ​​On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial ​recognition is effected as described below for each financial statement item. ​​Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm ​or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and ​measurement. ​​Income is recognised in the income statement when earned, whereas costs are recognised by the amounts ​attributable to this financial year. Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates. Gross profit or lossGross profit or loss comprises external expenses. Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for ​administration etc. Property costsProperty costs include costs incurred to operate the Entity’s properties in the financial year, including repair ​and maintenance costs, property tax and electricity, water and heating, which are not charged directly from ​the lessee. Other financial incomeOther financial income comprises interest income, including interest income on receivables from group enterprises, net capital or exchange gains on payables and transactions in foreign currencies, and tax relief under​the Danish Tax Prepayment Scheme etc. Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group ​enterprises, and tax surcharge under the Danish Tax Prepayment Scheme etc. Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the ​income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.The Entity is jointly taxed with all Danish group enterprises. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses). Property, plant and equipmentLand and buildings, plant and machinery, and other fixtures and fittings, tools and equipment are ​measured at cost less accumulated depreciation and impairment losses. Land is not depreciated.​​Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation.Estimated useful lives and residual values are reassessed annually. ​​Items of property, plant and equipment are written down to the lower of recoverable amount and carrying ​amount. ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and ​doubtful debts. Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset.​​Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at ​their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets. Joint taxation contributions receivable or payableCurrent joint taxation contributions payable or joint taxation contributions receivable are recognised in the balance sheet, calculated as tax computed on the taxable income for the year, which has been adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement. PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at ​cost. CashCash comprises bank deposits. Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. Ikke væsentlig usikkerhed vedr. fortsat drift true Grundlag for konklusion Konklusion 2026-06-25 2026-06-25 true 2024-01-01 2024-12-31 København S 2300 6 Weidekampsgade København København K 1103 Regnskabsklasse B Erklæring om udvidet gennemgang 2025-12-31 2025-01-01 46 Hovedvagtsgade MG Ringsted I ApS 43951912 33963556 2300 København S Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab