38401637 2025-04-01 2026-03-31 38401637 2025-04-01 2026-03-31 2 38401637 2025-04-01 2026-03-31 1 38401637 2025-04-01 2026-03-31 1 38401637 2025-04-01 2026-03-31 1 38401637 2025-04-01 2026-03-31 2 38401637 2024-04-01 2025-03-31 38401637 2026-03-31 38401637 2025-03-31 38401637 2025-04-01 d:ContributedCapitalMember 38401637 2025-04-01 d:SharePremiumMember 38401637 2025-04-01 d:RetainedEarningsMember 38401637 2025-04-01 2026-03-31 d:RetainedEarningsMember 38401637 2025-04-01 2026-03-31 d:ContributedCapitalMember 38401637 2025-04-01 2026-03-31 d:SharePremiumMember 38401637 2026-03-31 d:ContributedCapitalMember 38401637 2026-03-31 d:SharePremiumMember 38401637 2026-03-31 d:RetainedEarningsMember 38401637 2025-04-01 d:LandAndBuildingsMember 38401637 2025-04-01 d:LeaseholdImprovementsMember 38401637 2025-04-01 d:PlantAndMachineryMember 38401637 2025-04-01 d:FixturesFittingsToolsAndEquipmentMember 38401637 2025-04-01 d:PropertyPlantAndEquipmentInProgressMember 38401637 2025-04-01 2026-03-31 d:LandAndBuildingsMember 38401637 2025-04-01 2026-03-31 d:PropertyPlantAndEquipmentInProgressMember 38401637 2025-04-01 2026-03-31 d:PlantAndMachineryMember 38401637 2025-04-01 2026-03-31 d:FixturesFittingsToolsAndEquipmentMember 38401637 2026-03-31 d:LandAndBuildingsMember 38401637 2026-03-31 d:LeaseholdImprovementsMember 38401637 2026-03-31 d:PlantAndMachineryMember 38401637 2026-03-31 d:FixturesFittingsToolsAndEquipmentMember 38401637 2026-03-31 d:PropertyPlantAndEquipmentInProgressMember 38401637 2026-03-31 d:LandAndBuildingsMember d:LeasedAssetsMember 38401637 2026-03-31 d:LeaseholdImprovementsMember d:LeasedAssetsMember 38401637 2026-03-31 d:PlantAndMachineryMember d:LeasedAssetsMember 38401637 2026-03-31 d:FixturesFittingsToolsAndEquipmentMember d:LeasedAssetsMember 38401637 2026-03-31 d:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipmentMember d:LeasedAssetsMember 38401637 2025-04-01 d:DepositsLongtermInvestmentsAndReceivablesMember 38401637 2026-03-31 d:DepositsLongtermInvestmentsAndReceivablesMember 38401637 2025-04-01 38401637 2024-04-01 38401637 2026-03-31 d:LongtermLeaseCommitmentsMember 38401637 2025-03-31 d:LongtermLeaseCommitmentsMember 38401637 2026-03-31 d:LongtermPayablesToGroupEnterprisesMember 38401637 2025-03-31 d:LongtermPayablesToGroupEnterprisesMember iso4217:DKK xbrli:pure Årsrapport Revisionspåtegning Rasmus Hvid Kærsgaard 2026-09-09 Regnskabsklasse B 2026-09-09 Beierholm 81 Langagervej 1 9220 Aalborg Ø Konklusion Opinion Greenlab Grundlag for konklusion Basis for Opinion 2024-04-01 2025-03-31 7860 2025-04-01 2026-03-31 Beierholm 38401637 Spøttrup Quantafuel Skive ApS Skive 19 Skive Beierholm 7800 32895468 Resenvej 81 Danmark 32895468 Resenvej 7800 Skive Danmark Vi har dags dato aflagt års­rap­por­ten for regn­skabs­året 01.04.25 - 31.03.26 for Quantafuel Skive ApS. We have on this day presented the annual report for the financial year 01.04.25 - 31.03.26 for Quantafuel Skive ApS. Årsrapporten aflægges i over­ens­stem­mel­se med års­regn­skabs­loven. The annual report is presented in accordance with the Danish Finan­cial Sta­te­ments Act. Det er vores opfattelse, at års­regn­ska­bet giver et ret­vi­sen­de bil­lede af selskabets ak­ti­ver, pas­si­ver og fi­nan­siel­le stil­ling pr. 31.03.26 og re­sul­ta­tet af selskabets ak­ti­vi­te­ter for regn­skabs­året 01.04.25 - 31.03.26. In our opinion, the financial statements give a true and fair view of the company's assets, liabilities and financial position as at 31.03.26 and of the results of the company's activities for the financial year 01.04.25 - 31.03.26. Ledelsesberetningen indeholder efter vores op­fat­telse en ret­vi­sende rede­gø­rel­se for de for­hold, be­ret­nin­gen om­hand­ler. We believe that the management's review includes a fair review of the matters dealt with in the management's review. Årsrapporten indstilles til general­for­sam­lin­gens god­ken­delse. The annual report is submitted for adoption by the general meeting. Spøttrup 2026-09-09 Rasmus Hvid Kærsgaard Lee James Hodder Formand / Chairman Keith David Charlton Til kapitalejeren i Quantafuel Skive ApS To the capital owner of Quantafuel Skive ApS Det er vores opfattelse, at års­regn­ska­bet giver et ret­visende bil­le­de af selskabets akti­ver, pas­si­ver og finan­sielle stilling pr. 31.03.26 samt af resul­ta­tet af selskabets ak­ti­viteter for regn­skabs­året 01.04.25 - 31.03.26 i over­ens­stem­mel­se med års­regn­skabs­loven. In our opinion the fi­nan­cial sta­te­ments give a true and fair view of the company's finan­cial posi­tion at 31.03.26 and of the results of the company's ope­ra­tions for the finan­cial year 01.04.25 - 31.03.26 in ac­cor­dan­ce with the Danish Finan­cial Sta­te­ments Act. Vi har udført vores revision i over­ens­stem­mel­se med internationale standarder om revi­sion og de yderligere krav, der er gæl­den­de i Danmark. Vores ansvar ifølge disse stan­dar­der og krav er nærmere beskrevet i revi­sions­på­teg­nin­gens afsnit ”Revisors ansvar for revisionen af års­regn­ska­bet”. Vi er uafhængige af selskabet i overensstemmelse med International Ethics Standards Board for Accountants’ internationale retningslinjer for revisorers etiske adfærd (IESBA Code) og de yderligere etiske krav, der er gældende i Danmark, ligesom vi har opfyldt vores øvrige etiske forpligtelser i henhold til disse krav og IESBA Code. Det er vores op­fat­tel­se, at det op­nå­ede revi­sions­bevis er til­stræk­ke­ligt og egnet som grund­lag for vores kon­klu­sion. 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. Uden at det har påvirket vores konklusion, gør vi opmærksom på, at drifts­ak­ti­vi­te­ten er under afvik­ling, og at års­rap­por­ten er af­lagt under hen­syn­ta­gen her­til. Ind­reg­ning og må­ling af selskabets ak­ti­ver og pas­si­ver er æn­dret til brug af net­to­rea­li­sa­ti­ons­vær­di­er, og klas­sifi­ka­tion og op­stil­ling er lige­le­des til­pas­set. Vi er eni­ge i le­del­sens valg af regn­skabs­prak­sis og hen­vi­ser i øv­rigt til om­ta­len i an­vendt regn­skabs­prak­sis. Vi henleder desuden opmærksomheden på note 2 i årsregnskabet, hvoraf det fremgår, at der er væ sentlig usikkerhed om værdien af selskabets produktionsanlæg og det indregnede skatteaktiv. Vi er enige med ledelsen i beskrivelsen af usikkerheden og den regnskabsmæssige behandling af selskabets indregnede produktionsanlæ g og skatteaktiv. Vores konklusion er derfor ikke modificeret vedrørende dette forhold. We draw attention to the fact that the operating activities are being dis­con­tinued and that the fi­nan­cial sta­te­ments has been prepared with this in mind. The recog­ni­tion and measurement of the company's assets and liabilities have been changed to net realizable values, and the classification and pre­sen­ta­tion have been adjusted accordingly. We agree with mana­gement's choice of accounting policies and refer to the description in the accounting policies. We draw attention to Note 2 in the annual report, which states that there is significant uncertainty regarding the value of the company’s production facilities and the recognized deferred tax asset. We agree with management’s description of the uncertainty and the accounting treatment of the recognized production facilities and deferred tax asset. Our conclusion is therefore not modified in respect of this matter. Ledelsen er ansvarlig for ledel­ses­be­ret­nin­gen.Vores konklusion om års­regn­ska­bet omfat­ter ikke ledelsesberetningen, og vi ud­tryk­ker ingen form for konklusion med sikker­hed om ledel­ses­beret­ningen.I tilknytning til vores revision af års­regn­ska­bet er det vores ansvar at læse ledel­ses­be­ret­nin­gen og i den forbindelse overveje, om ledel­ses­be­ret­nin­gen er væsentligt in­kon­sis­tent med års­regn­ska­bet eller vores viden opnået ved revisionen eller på anden måde synes at indeholde væsentlig fejl­in­for­ma­tion.Vores ansvar er derudover at overveje, om ledel­ses­be­ret­nin­gen indeholder krævede op­lys­ninger i henhold til års­regn­skabs­loven.Baseret på det udførte arbejde er det vores opfattelse, at ledelsesberetningen er i over­ens­stemmelse med års­regn­ska­bet og er ud­ar­bej­det i over­ens­stem­melse med års­regn­skabs­lovens krav. Vi har ikke fundet væ­sentlig fejlinformation i ledel­ses­be­ret­nin­gen. Management is responsible for the mana­ge­ment’s review.Our opinion on the fi­nan­cial sta­te­ments does not cover the management’s review, and we do not express any form of assurance con­clu­sion thereon. In connection with our audit of the fi­nan­cial sta­te­ments, it is our responsibility 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 the 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 of the management’s review. Ledelsen har ansvaret for udarbejdelsen af et års­regn­skab, der giver et ret­vis­ende bil­le­de i over­ens­stem­mel­se med års­regn­skabs­loven. Ledel­sen har end­vi­de­re an­sva­ret for den in­ter­ne kon­trol, som ledel­sen an­ser for nød­ven­dig for at ud­ar­bejde et års­regn­skab uden væsent­lig fejl­in­for­ma­tion, uanset om den­ne skyl­des besvi­gelser eller fejl.Ved udarbejdelsen af års­regn­ska­bet er ledel­sen ansvarlig for at vurdere selskabets evne til at fortsætte driften, at oplyse om for­hold ved­rø­ren­de fortsat drift, hvor dette er rele­vant, samt at udarbejde års­regn­ska­bet på grund­lag af regn­skabs­prin­cip­pet om fort­sat drift, medmindre le­del­sen enten har til hen­sigt at likvidere selskabet, indstille drif­ten eller ikke har andet rea­listisk alter­na­tiv end at gøre dette. 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. Vores mål er at opnå høj grad af sikkerhed for, om års­regn­ska­bet som helhed er uden væsent­lig fejlinformation, uanset om denne skyldes besvi­gel­ser eller fejl, og at afgive en revi­sions­på­teg­ning med en konklusion. Høj grad af sikkerhed er et højt niveau af sik­ker­hed, men er ikke en garanti for, at en revi­sion, der udføres i over­ens­stem­melse med inter­nationale stan­dar­der om revision og de yder­ligere krav, der er gæl­dende i Danmark, altid vil afdække væsentlig fejl­infor­mation, når sådan findes. Fejl­in­for­ma­ti­oner kan opstå som følge af be­svi­gel­ser eller fejl og kan betragtes som væ­sent­lige, hvis det med rime­lighed kan for­ven­tes, at de enkeltvis eller samlet har indflydelse på de økono­miske beslut­ninger, som regn­skabs­bru­ger­ne træffer på grund­lag af års­regn­ska­bet.Som led i en revision, der udføres i over­ens­stem­melse med inter­na­ti­ona­le stan­dar­der om revision og de yder­ligere krav, der er gæl­­dende i Dan­mark, foretager vi faglige vur­deringer og op­ret­holder pro­fes­sio­nel skep­sis under revi­sio­nen. Herudover: Identificerer og vurderer vi risikoen for væsentlig fejlinformation i års­regn­ska­bet, uanset om denne skyldes besvigelser eller fejl, udformer og udfører revisions­hand­linger som reak­tion på disse risici samt opnår revi­sions­bevis, der er til­stræk­keligt og egnet til at danne grund­lag for vores kon­klu­sion. Risi­koen for ikke at opdage væsent­lig fejl­infor­ma­tion forår­saget af besvi­gelser er højere end ved væ­sentlig fejl­information forårsaget af fejl, idet be­svi­gel­ser kan om­fatte sam­men­svær­gel­ser, dokumentfalsk, bevidste ude­la­del­ser, vild­led­ning eller til­side­sæt­tel­se af intern kontrol.Opnår vi forståelse af den interne kontrol med relevans for revisionen for at kunne ud­forme re­vi­si­ons­hand­lin­ger, der er pas­sen­de efter omstæn­dig­he­der­ne, men ikke for at kunne ud­trykke en kon­klu­sion om effek­tivi­teten af selskabets interne kon­trol.Tager vi stilling til, om den regn­skabs­prak­­sis, som er an­vendt af le­del­sen, er pas­sende, samt om de regn­skabs­mæs­sige skøn og til­knyt­tede op­lys­nin­ger, som ledelsen har ud­ar­bej­det, er rime­lige.Konkluderer vi, om ledelsens udar­bej­del­se af års­regn­ska­bet på grundlag af regn­skabs­prin­cip­pet om fortsat drift er pas­sen­de, samt om der på grundlag af det op­nåede revisions­bevis er væsentlig usik­kerhed for­bun­det med begiven­heder eller forhold, der kan skabe betydelig tvivl om selskabets evne til at fort­sætte drif­ten. Hvis vi kon­klu­derer, at der er en væ­sentlig usikker­hed, skal vi i vores revi­sions­påtegning gøre opmærk­som på op­lys­nin­ger herom i års­regn­ska­bet eller, hvis sådanne oplys­ninger ikke er til­stræk­kelige, modi­fi­cere vores konklusion. Vores kon­klu­sio­ner er baseret på det revisions­bevis, der er opnået frem til datoen for vores revi­sions­påtegning. Frem­tidige begi­ven­heder eller for­hold kan dog med­føre, at selskabet ikke læn­gere kan fortsætte driften.Tager vi stilling til den samlede præ­sen­ta­tion, struktur og indhold af års­regn­ska­bet, her­under note­op­lys­nin­ger­ne, samt om års­regn­ska­bet afspejler de under­lig­gen­de trans­aktio­ner og begivenheder på en sådan måde, at der gives et ret­vi­sende billede heraf.Vi kommunikerer med den øverste ledelse om blandt andet det planlagte omfang og den tids­mæs­sige placering af revisionen samt betydeligerevisions­mæssige obser­va­tio­ner, her­under even­tuelle betydelige mang­ler i intern kontrol, som vi iden­ti­fi­ce­rer under revisionen. 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 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 andsignificant audit findings, inclu­ding any significant deficiencies in internal control that we identify during our audit. Skive Jesper K. Viborg Jakob Hove Statsaut. revisor mne35413 Statsaut. revisor mne49065 Væsentligste aktiviteterSelskabets aktiviteter består i etablering og drift af pyrolyseanlæg og dermed beslægtet virksomhed. Primary activitiesThe company's activities consist of the establishment and operation of pyrolysis plants and related business operations. Usikkerhed ved indregning og målingI årsregnskabet for regnskabsåret 01.04.25 - 31.03.26 er føl­gende usik­ker­hed om ind­reg­ning og må­ling væ­sent­lig at be­mær­ke, idet det har haft væ­sent­lig ind­fly­del­se på de i års­regn­ska­bet ind­reg­ne­de ak­ti­ver og for­plig­tel­ser:Materielle anlægsaktiver:Ledelsen har identificeret væsentlig usikkerhed ved målingen af selskabets produktionsanlæg og maskiner.Selskabets materielle anlægsaktiver består primært af produktionsanlæg og maskiner anvendt i den kemiske genanvendelsesproces. Som led i aflæggelsen af årsrapporten har ledelsen gennemført en nedskrivningstest af disse aktiver. På baggrund af den gennemførte nedskrivningstest er den regnskabsmæssige værdi af produktionsanlæg og maskiner nedskrevet til DKK 0 pr. balancedagen.Efter balancedagen har selskabets ultimative moderselskab offentliggjort beslutningen om at indstille de europæiske kemiske genanvendelsesaktiviteter, herunder aktiviteterne i Quantafuel Skive ApS, jf. omtalen i afsnittet om efterfølgende begivenheder. Som følge heraf forventes selskabets produktionsanlæg og maskiner at skulle afhændes eller skrottes i forbindelse med nedlukningen af aktiviteterne.Ledelsen vurderer på denne baggrund, at den indregnede værdi på DKK 0 udgør det bedste estimat for aktivernes værdi pr. balancedagen. Der knytter sig dog væsentlig usikkerhed til vurderingen, idet de endelige økonomiske konsekvenser af afhændelse, demontering, skrotning og afvikling endnu ikke er fuldt afklarede. De faktiske realisationsværdier og omkostninger ved nedlukningen kan derfor afvige fra de skøn, der ligger til grund for værdiansættelsen i årsrapporten.Udskudt skatteaktiv:Selskabet har et udskudt skatteaktiv på DKK 102 mio., hvoraf DKK 0 mio. er indregnet i balancen pr. 31.03.26. Da selskabet har besluttet at nedlukke sine aktiviteter, og dermed ikke forventer fremtidig indtjening på kort sigt, har ledelsen valgt at foretage en nedskrivning af det udskudte skatteaktiv. Uncertainty concerning recognition and measurementIn the financial statements for the financial year 01.04.25 - 31.03.26, it is important to note the following uncertainty with regard to recognition and measurement, as it has had a significant influence on the assets and liabilities recognised in the financial statements:Production Facilities and Machinery Management has identified significant uncertainty relating to the measurement of the Company's production plant and machinery.The Company's property, plant and equipment primarily comprise production facilities and machinery used in the chemical recycling process. As part of the preparation of the financial statements, Management has performed an impairment test of these assets. .Based on the impairment test performed, the carrying amount of the production plant and machinery has been written down to DKK 0 as at the reporting date.Subsequent to the reporting date, the Company's ultimate parent company announced its decision to discontinue its European chemical recycling operations, including the activities of Quantafuel Skive ApS, as described in the section on subsequent events. As a consequence, the Company's production plant and machinery are expected to be disposed of, scrapped or otherwise decommissioned as part of the closure of the operations.On this basis, Management considers the recognised carrying amount of DKK 0 to represent the best estimate of the value of the assets as at the reporting date. However, significant uncertainty remains in relation to this assessment, as the final financial consequences of disposing of, dismantling, scrapping and decommissioning the assets have not yet been fully determined. Accordingly, the actual proceeds from disposal and the costs associated with the closure process may differ from the estimates underlying the measurement of the assets in these financial statements.Deferred Tax AssetThe company has a deferred tax asset of DKK 102 million, of which DKK 0 million is recognized in the balance sheet as of 31 March 2026. As the company has decided to cease its operations and therefore does not expect to generate future earnings in the short term, management has decided to impair the deferred tax asset. Udvikling i aktiviteter og økonomiske forholdResultatopgørelsen for tiden 01.04.25 - 31.03.26 udviser et resultat på DKK -92.693.391 mod DKK -229.429.092 for tiden 01.04.24 - 31.03.25. Ba­lan­cen vi­ser en egen­ka­pi­tal på DKK -34.384.479.Selskabets aktiviteter har i regnskabsåret været fokuseret på drift og videreudvikling af selskabets kemiske genanvendelsesanlæg i Skive. Anlægget er en del af koncernens satsning på avanceret plastgenanvendelse medhenblik på at genanvende plastaffald, som ikke kan behandles ved traditionelle mekaniske genanvendelsesmetoder.I løbet af året har koncernen arbejdet med fortsat optimering af anlæggets drift og processtabilitet.På trods af de operationelle fremskridt har markedsvilkårene for kemisk genanvendelse fortsat været udfordrende. Efterspørgslen efter genanvendte råvarer har været under pres, mens lave priser på jomfruelige fossilt baserede plastprodukter har reduceret den kommercielle konkurrenceevne for genanvendte alternativer. Herudover har usikkerhed omkring regulatoriske rammevilkår og fremtidige krav til anvendelse af genanvendte materialer medført begrænset investeringsvillighed i sektoren.Efter regnskabsårets udløb meddelte koncernens ultimative ejer, Viridor, at man efter en konsultationsproces havde truffet beslutning om at indstille sine europæiske aktiviteter inden for kemisk genanvendelse, herunder aktiviteterne i Skive, Oslo og Malmø. Beslutningen blev begrundet med fortsat svage markedsforhold, usikkerhed om regulatoriske forhold og manglende kommerciel rentabilitet i sektoren.Årets resultat er væsentligt påvirket af de fortsatte udfordringer i markedet for kemisk genanvendelse samt de regnskabsmæssige nedskrivninger, som ledelsen har fundet nødvendige på baggrund af selskabets fremadrettede indtjeningsmuligheder og de efterfølgende beslutninger om afvikling af aktiviteterneOplysninger om fortsat driftSelskabet har tabt mere end 50% af selskabskapitalen.Der er modtaget forpligtende finansierings-tilsagn fra modervirksomheden Quantafuel AS om støtte til gennemførelse af de planlagte nedlukningsaktiviteter. Modervirksomheden har samtidig afgivet et forpligtende tilsagn om ikke at kræve deres tilgodehavende afviklet førend det er muligt.Det er således ledelsens vurdering, at det nuværende likviditetsberedskab er tilstrækkeligt for det kommende år og for at gennemføre den planlagte nedlukning af selskabets aktiviteter. For øvrige omtale henvises der til beskrivelse under anvendt regnskabspraksis. Development in activities and financial affairsThe income statement for the period 01.04.25 - 31.03.26 shows a profit/loss of DKK -92,693,391 against DKK -229,429,092 for the period 01.04.24 - 31.03.25. The balance sheet shows equity of DKK -34,384,479.During the financial year, the Company's activities remained focused on the operation and optimisation of its chemical recycling plant in Skive. The plant forms part of the Group's advanced plastics recycling platform, whichaims to recycle plastic waste streams that cannot be processed through conventional mechanical recycling methods.Throughout the year, the Group continued its efforts to improve operational performance, process stability and plant utilisation.Despite these operational achievements, market conditions for advanced plastics recycling remained challenging. Demand for recycled materials continued to be adversely affected by weak market conditions and competition from low-cost virgin plastic materials. In addition, ongoing uncertainty regarding the regulatory framework and future policy support for recycled materials continued to limit investment confidence and commercial development within the sector.Subsequent to the reporting date, the Company's ultimate parent company announced its decision to cease its European chemical recycling operations, including the facilities located in Skive, Oslo and Malmö. The decision followed an extensive review of strategic alternatives and was driven by continued adverse market conditions, regulatory uncertainty and the absence of a commercially sustainable market environment for advanced plastics recycling.The financial performance for the year was significantly affected by the challenging market environment and the impairment charges recognised by Management in light of the Company's future earnings prospects and the subsequent decision to discontinue operations.Information on going concernThe company has incurred a loss of more than 50% of its share capital.The Company has obtained a binding letter of financial support from its parent company, Quantafuel AS, to fund the planned closure and wind-down activities. Furthermore, the parent company has irrevocably undertaken not to demand repayment of its receivable until the Company is in a position to settle the amount outstanding.Management therefore assesses that the current liquidity resources are sufficient to support the company for the coming year and to facilitate the planned cessation of the company's activities.For further information, reference is made to the description in the accounting policies Efterfølgende begivenhederSelskabets ejer har i juni 2026 besluttet at lukke sine europæiske aktiviteter inden for kemisk genanvendelse i Oslo, Malmø og i dette selskab for Skive. Beslutningen træffes på trods af betydelige driftsmæssige fremskridt i virksomheden. Siden overtagelsen af Quan-tafuel-platformen har koncernen demonstreret evnen til at genanvende forurenet husholdningsplast, som ikke kan behandles gennem konventionelle mekaniske gen-anvendelsesmetoder.Koncernen har gennem længere tid opfordret til stærkere politisk opbakning og større re-gulatorisk sikkerhed for at skabe de nødvendige forudsætninger for, at sektoren kan ud-vikle sig og tiltrække investeringer. Koncernen mener fortsat, at avanceret plastgenan-vendelse spiller en vigtig rolle i den cirkulære økonomi. De nuværende markedsforhold og den fortsatte usikkerhed om politiske rammevilkår betyder imidlertid, at sektoren endnu ikke har de nødvendige kommercielle betingelser. Efterspørgslen efter genanvendte materialer er faldet, mens billigere jomfruelige materialer fortsat presser genanvendte alternativer på pris. Subsequent eventsThe Company's ultimate parent company decided in June 2026 to discontinue its European chemical recycling operations in Oslo, Malmö and at the Company's facility in Skive. The decision was made despite significant operational progress achieved across the business. Since the acquisition of the Quantafuel platform, the Group has demonstrated the ability to recycle contaminated household plastic waste that cannot be processed through conventional mechanical recycling methods.For an extended period, the Group has advocated for stronger policy support and greater regulatory certainty to establish the conditions necessary for the sector to develop and attract investment. The Group continues to believe that advanced plastics recycling has an important role to play in the circular economy. However, current market conditions and the continued uncertainty regarding the regulatory framework mean that the sector has not yet achieved the commercial conditions required for sustainable operations. Demand for recycled materials has weakened, while lower-priced virgin materials continue to undermine the competitiveness of recycled alternatives. -45865216 -194915620 24049560 17862941 -69914776 -212778561 56315 173735 22834930 15940607 -92693391 -228545433 0 883659 -92693391 -229429092 -92693391 -229429092 0 0 0 0 0 0 0 0 0 0 3608889 3608889 3608889 3608889 3608889 3608889 2210261 3626049 913533 1262094 3123794 4888143 3176593 2519828 0 2066341 3455674 5407172 2798050 2662101 9430317 12655442 5238075 302308 17792186 17845893 21401075 21454782 1971278 1350000 -36355757 -160089385 -34384479 -158739385 0 160872351 0 160872351 36229947 0 6388 2994 5936414 7380901 9579154 8587467 4033651 3350454 55785554 19321816 55785554 180194167 21401075 21454782 Beløb i DKKFigures in DKKSelskabs­kapitalShare capitalOverkurs ved emissionShare premiumOverført resultatRetained earningsEgenkapital i altTotal equityEgenkapitalopgørelse for 01.04.25 - 31.03.26Statement of changes in equity for 01.04.25 - 31.03.26Saldo pr. 01.04.251.350.0000-160.089.385-158.739.385Balance as at 01.04.25Nettoeffekt ved ændring af regnskabspraksis00-31.462.787-31.462.787Net effect of changed accounting policiesKorrigeret saldo pr. 01.04.251.350.0000-191.552.172-190.202.172Adjusted balance as at 01.04.25Gældskonvertering621.278247.889.8060248.511.084Debt conversionOverførsler til/fra andre reserver0-247.889.806247.889.8060Transfers to/from other reservesForslag til resultatdisponering00-92.693.391-92.693.391Net profit/loss for the yearSaldo pr. 31.03.261.971.2780-36.355.757-34.384.479Balance as at 31.03.26 1350000 0 -160089385 -31462787 621278 247889806 -247889806 247889806 -92693391 1971278 0 -36355757 1.Oplysninger om fortsat driftInformation as regards going concernSelskabet har tabt mere end 50% af selsabskapitalen.The company has incurred a loss of more than 50% of its share capital.Der er modtaget forpligtende finansierings-tilsagn fra modervirksomheden Quantafuel AS om støtte til gennemførelse af de planlagte nedlukningsaktiviteter for det kommende år. Modervirksomheden har samtidig afgivet et forpligtende tilsagn om ikke at kræve deres tilgodehavende afviklet førend det er muligt.Det er således ledelsens vurdering, at det nuværende likviditetsberedskab er tilstrækkeligt for det kommende år og for at gennemføre den planlagte nedlukning af selskabets aktiviteter. The Company has obtained a binding letter of financial support from its parent company, Quantafuel AS, to fund the planned closure and wind-down activities for the forthcoming year. Furthermore, the parent company has irrevocably undertaken not to demand repayment of its receivable until the Company is in a position to settle the amount outstanding.Management therefore assesses that the current liquidity resources are sufficient to support the company for the coming year and to facilitate the planned cessation of the company's activities. 2.Usikkerhed ved indregning og målingUncertainty concerning recognition and measurementI årsregnskabet for regnskabsåret 01.04.25 - 31.03.26 er føl­gen­de usik­ker­hed om ind­reg­ning og må­ling væ­sent­lig at be­mær­ke, idet det har haft væ­sent­lig ind­fly­del­se på de i års­regn­ska­bet ind­reg­ne­de ak­ti­ver og for­plig­tel­ser:In the financial statements for the financial year 01.04.25 - 31.03.26, it is important to note the following uncertainty as regards recognition and measurement as it has had a significant influence on the assets and liabilities recognised in the financial statements:Materielle anlægsaktiver:Ledelsen har identificeret væsentlig usikkerhed ved målingen af selskabets produktionsanlæg og maskiner.Production Facilities and MachineryManagement has identified significant uncertainty relating to the measurement of the Company's production plant and machinery.Selskabets materielle anlægsaktiver består primært af produktionsanlæg og maskiner anvendt i den kemiske genanvendelsesproces. Som led i aflæggelsen af årsrapporten har ledelsen gennemført en nedskrivningstest af disse aktiver. På baggrund af den gennemførte nedskrivningstest er den regnskabsmæssige værdi af produktionsanlæg og maskiner nedskrevet til DKK 0 pr. balancedagen.Efter balancedagen har selskabets ultimative moderselskab offentliggjort beslutningen om at indstille de europæiske kemiske genanvendelsesaktiviteter, herunder aktiviteterne i Quantafuel Skive ApS, jf. omtalen i afsnittet om efterfølgende begivenheder. Som følge heraf forventes selskabets produktionsanlæg og maskiner at skulle afhændes eller skrottes i forbindelse med nedlukningen af aktiviteterne.The Company's property, plant and equipment primarily comprise production facilities and machinery used in the chemical recycling process. As part of the preparation of the financial statements, Management has performed an impairment test of these assets. .Based on the impairment test performed, the carrying amount of the production plant and machinery has been written down to DKK 0 as at the reporting date.Subsequent to the reporting date, the Company's ultimate parent company announced its decision to discontinue its European chemical recycling operations, including the activities of Quantafuel Skive ApS, as described in the section on subsequent events. As a consequence, the Company's production plant and machinery are expected to be disposed of, scrapped or otherwise decommissioned as part of the closure of the operations.Ledelsen vurderer på denne baggrund, at den indregnede værdi på DKK 0 udgør det bedste estimat for aktivernes værdi pr. balancedagen. Der knytter sig dog væsentlig usikkerhed til vurderingen, idet de endelige økonomiske konsekvenser af afhændelse, demontering, skrotning og afvikling endnu ikke er fuldt afklarede. De faktiske realisationsværdier og omkostninger ved nedlukningen kan derfor afvige fra de skøn, der ligger til grund for værdiansættelsen i årsrapporten.On this basis, Management considers the recognised carrying amount of DKK 0 to represent the best estimate of the value of the assets as at the reporting date. However, significant uncertainty remains in relation to this assessment, as the final financial consequences of disposing of, dismantling, scrapping and decommissioning the assets have not yet been fully determined. Accordingly, the actual proceeds from disposal and the costs associated with the closure process may differ from the estimates underlying the measurement of the assets in these financial statements.Udskudt skatteaktiv:Selskabet har et udskudt skatteaktiv på DKK 102 mio., hvoraf DKK 0 mio. er indregnet i balancen pr. 31.03.26. Deferred Tax AssetThe company has a deferred tax asset of DKK 102 million, of which DKK 0 million is recognized in the balance sheet as of 31 March 2026. Da selskabet har besluttet at nedlukke sine aktiviteter, og dermed ikke forventer fremtidig indtjening på kort sigt, har ledelsen valgt at foretage en nedskrivning af det udskudte skatteaktiv.As the company has decided to cease its operations and therefore does not expect to generate future earnings in the short term, management has decided to impair the deferred tax asset. 3.Efterfølgende begivenhederSubsequent eventsSelskabets ejer har i juni 2026 besluttet at lukke sine europæiske aktiviteter inden for kemisk genanvendelse i Oslo, Malmø og i dette selskab for Skive. Beslutningen træffes på trods af betydelige driftsmæssige fremskridt i virksomheden. Siden overtagelsen af Quantafuel-platformen har koncernen demonstreret evnen til succesfuldt at genanvende forurenet husholdningsplast, som ikke kan behandles gennem konventionelle mekaniske genanvendelsesmetoder.The Company's ultimate parent company decided in June 2026 to discontinue its European chemical recycling operations in Oslo, Malmö and at the Company's facility in Skive. The decision was made despite significant operational progress achieved across the business. Since the acquisition of the Quantafuel platform, the Group has demonstrated the ability to successfully recycle contaminated household plastic waste that cannot be processed through conventional mechanical recycling methods.Koncernen har gennem længere tid opfordret til stærkere politisk opbakning og større regulatorisk sikkerhed for at skabe de nødvendige forudsætninger for, at sektoren kan udvikle sig og tiltrække investeringer. Koncernen mener fortsat, at avanceret plastgenanvendelse spiller en vigtig rolle i den cirkulære økonomi. De nuværende markedsforhold og den fortsatte usikkerhed om politiske rammevilkår betyder imidlertid, at sektoren endnu ikke har de nødvendige kommercielle betingelser. Efterspørgslen efter genanvendte materialer er faldet, mens billigere jomfruelige materialer fortsat presser genanvendte alternativer på pris.For an extended period, the Group has advocated for stronger policy support and greater regulatory certainty to establish the conditions necessary for the sector to develop and attract investment. The Group continues to believe that advanced plastics recycling has an important role to play in the circular economy. However, current market conditions and the continued uncertainty regarding the regulatory framework mean that the sector has not yet achieved the commercial conditions required for sustainable operations. Demand for recycled materials has weakened, while lower-priced virgin materials continue to undermine the competitiveness of recycled alternatives. 4.Særlige posterSpecial itemsSærlige poster er indtægter og om­kost­nin­ger, der er sær­li­ge på grund af de­res stør­rel­se og art. Der har i regn­skabs­året væ­ret føl­gen­de sær­li­ge pos­ter:Special items are income and expenses that are special due to their size and nature. The following special items were recorded in the financial year:Særlige poster:Special items:Indregnet i resultatopgørelsen under:Recognised in the income statement in:2025/26 DKK2024/25 DKKNedskrivninger af materielle anlægsaktiver Produktionsomkostninger-27.369.741-149.335.168Impairment losses on property, plant and equipment Production costs4.Særlige poster - fortsat -Special items - continued -Selskabets materielle anlægsaktiver består primært af produktionsanlæg og maskiner anvendt i den kemiske genanvendelsesproces. Som led i aflæggelsen af årsrapporten har ledelsen gennemført en nedskrivningstest af disse aktiver.På baggrund af den gennemførte nedskrivningstest er den regnskabsmæssige værdi af produktionsanlæg og maskiner nedskrevet til DKK 0 pr. balancedagen.Efter balancedagen har selskabets ultimative moderselskab offentliggjort beslutningen om at indstille de europæiske kemiske genanvendelsesaktiviteter, herunder aktiviteterne i Quantafuel Skive ApS, jf. omtalen i afsnittet om efterfølgende begivenheder. Som følge heraf forventes selskabets produktionsanlæg og maskiner at skulle afhændes eller skrottes i forbindelse med nedlukningen af aktiviteterne.The Company's property, plant and equipment primarily comprise production facilities and machinery used in the chemical recycling process. As part of the preparation of the annual report, Management performed an impairment test of these assets.Based on the impairment test performed, the carrying amount of the production plant and machinery was written down to DKK 0 as at the reporting date.Subsequent to the reporting date, the Company's ultimate parent company announced its decision to discontinue its European chemical recycling operations, including the activities of Quantafuel Skive ApS, as described in the section on subsequent events. As a consequence, the Company's production plant and machinery are expected to be disposed of, scrapped or otherwise decommissioned as part of the closure of the operations.Samlet har dette medført en nedskriving t.DKK 27.370.Taken together, these circumstances resulted in the recognition of an impairment loss of DKK 27.370 thousand in the financial year. 41 43 14040395 10119712 8794535 5820895 0 2950000 0 -2066341 8.Materielle anlægsaktiverProperty, plant and equipmentBeløb i DKKFigures in DKKGrun­de og bygnin­gerLand and buildingsInd­ret­ning af le­je­de loka­lerLeasehold improvementsPro­duk­tions­an­læg og ma­ski­nerPlant and machineryAndre anlæg, drifts­ma­te­riel og in­ven­tarOther fixtures and fittings, tools and equipmentMa­te­ri­elle an­lægs­ak­ti­ver under ud­fø­rel­seProperty, plant and equipment under constructionKostpris pr. 01.04.2534.722.497281.918128.703.2691.948.92841.928.772Cost as at 01.04.25Tilgang i året755.63600026.614.105Additions during the yearOverførsler i årets løb til/fra andre poster002.724.04528.417-2.752.462Transfers during the year to/from other itemsKostpris pr. 31.03.2635.478.133281.918131.427.3141.977.34565.790.415Cost as at 31.03.26Af- og nedskrivninger pr. 01.04.25-34.722.497-281.918-128.703.269-1.948.928-41.928.772Depreciation and impairment losses as at 01.04.25Nedskrivninger i året-755.6360-2.724.045-28.417-23.861.643Impairment losses during the yearAf- og nedskrivninger pr. 31.03.26-35.478.133-281.918-131.427.314-1.977.345-65.790.415Depreciation and impairment losses as at 31.03.26Regnskabsmæssig værdi pr. 31.03.2600000Carrying amount as at 31.03.26Regnskabsmæssig værdi af finansielt leasede aktiver pr. 31.03.2600000Carrying amount of assets held under finance leases as at 31.03.268.Materielle anlægsaktiver - fortsat -Property, plant and equipment - continued -På baggrund af den gennemførte nedskrivningstest er den regnskabsmæssige værdi af produktionsanlæg og maskiner nedskrevet til DKK 0 pr. balancedagen.Efter balancedagen har selskabets ultimative moderselskab offentliggjort beslutningen om at indstille de europæiske kemiske genanvendelsesaktiviteter, herunder aktiviteterne i Quantafuel Skive ApS, jf. omtalen i afsnittet om efterfølgende begivenheder. Som følge heraf forventes selskabets produktionsanlæg og maskiner at skulle afhændes eller skrottes i forbindelse med nedlukningen af aktiviteterne.Based on the impairment test performed, the carrying amount of the production plant and machinery has been written down to DKK 0 as at the reporting date.Subsequent to the reporting date, the Company's ultimate parent company announced its decision to discontinue its European chemical recycling operations, including the activities of Quantafuel Skive ApS, as described in the section on subsequent events. As a consequence, the Company's production plant and machinery are expected to be disposed of, scrapped or otherwise decommissioned as part of the closure of the operations.Ledelsen vurderer på denne baggrund, at den indregnede værdi på DKK 0 udgør det bedste estimat for aktivernes værdi pr. balancedagen. Der knytter sig dog væsentlig usikkerhed til vurderingen, idet de endelige økonomiske konsekvenser af afhændelse, demontering, skrotning og afvikling endnu ikke er fuldt afklarede. De faktiske realisationsværdier og omkostninger ved nedlukningen kan derfor afvige fra de skøn, der ligger til grund for værdiansættelsen i årsrapporten.On this basis, Management considers the recognised carrying amount of DKK 0 to represent the best estimate of the value of the assets as at the reporting date. However, significant uncertainty remains in relation to this assessment, as the final financial consequences of disposing of, dismantling, scrapping and decommissioning the assets have not yet been fully determined. Accordingly, the actual proceeds from disposal and the costs associated with the closure process may differ from the estimates underlying the measurement of the assets in these financial statements. 34722497 281918 128703269 1948928 41928772 755636 26614105 2724045 28417 -2752462 35478133 281918 131427314 1977345 65790415 -34722497 -281918 -128703269 -1948928 -41928772 -755636 -2724045 -28417 -23861643 -35478133 -281918 -131427314 -1977345 -65790415 0 0 0 0 0 0 0 0 0 0 3608889 3608889 3608889 31.03.2631.03.25DKKDKK10.Udskudt skatDeferred taxUdskudt skatteaktiv pr. 01.04.2502.950.000Provisions for deferred tax as at 01.04.25Udskudt skat indregnet i resultatopgørelsen0-2.950.000Deferred tax recognised in the income statementUdskudt skatteaktiv pr. 31.03.2600Provisions for deferred tax as at 31.03.26Selskabet har pr. 31.03.2026 indregnet et udskudt skatteaktiv på t.DKK 0, Da selskabet har besluttet at nedlukke sine aktiviteter, og dermed ikke forventer fremtidig indtjening på kort sigt, har ledelsen valgt at foretage en nedskrivning af det udskudte skatteaktiv.]As of 31 March 2026, the company has recognised a deferred tax asset of DKK 0.As the company has decided to cease its operations and therefore does not expect to generate future earnings in the short term, management has decided to impair the deferred tax asset.] 0 2950000 0 -2950000 -30169535 0 30169535 0 -6060412 0 6060412 160872351 12.EventualaktiverContingent assetsSelskabet har et udskudt skat­te­ak­tiv på t.DKK 102.414, som ikke er ind­reg­net i ba­lan­cen. Skat­te­ak­ti­vet kan hen­føres til frem­før­te skat­te­mæs­si­ge un­der­skud, samt forskelsværdier på materielle anlægsativer, som ikke for­ven­tes an­vendt in­den­for de kom­men­de 3 år. Skat­te­ak­ti­vet kan frem­fø­res tidsube­grænset. The company has a deferred tax asset of DKK'000 102,414 which has not been recognised in the balance sheet. The tax asset can be attributed to tax losses carried forward which are not expected to be utilised within the next 3 years. The tax asset can be carried forward indefinitely. 13.EventualforpligtelserContingent liabilitiesAndre eventualforpligtelserOther contingent liabilitiesSelskabet er sambeskattet med øv­ri­ge dan­ske sel­ska­ber i kon­cer­nen og hæf­ter for­holds­mæs­sigt for sel­skabs­skat­ter og even­tu­el­le for­plig­tel­ser til at in­de­hol­de kil­de­skat på ren­ter, ro­yal­ties og ud­byt­ter for de sam­be­skat­te­de sel­ska­ber. Hæf­tel­sen ud­gør mak­si­malt et be­løb sva­rende til den an­del af ka­pi­ta­len i sel­ska­bet, der ejes di­rek­te el­ler in­di­rek­te af den ul­ti­ma­ti­ve mo­der­virk­som­hed. Den sam­le­de skat­te­for­plig­tel­se for de sam­be­skat­te­de sel­ska­ber på ba­lan­ce­da­gen er end­nu ikke op­gjort. Der hen­vi­ses til ad­mi­ni­stra­tions­sel­ska­bet Quantafuel Denmark ApS' års­regn­skab for yder­li­ge­re op­lys­nin­ger. The company is taxed jointly with the other Danish companies in the group and is liable for income taxes on a pro rata basis and must comply with any obligations to withhold tax at source on interest, royalties and dividends ] for the jointly taxed companies. The maximum liability totals an amount corresponding to the share of the capital in the company which is owned directly or indirectly by the ultimate parent. The total tax liability for the jointly taxed companies at the balance sheet date has not yet been determined. For further information, please see the financial statements of the management company Quantafuel Denmark ApS. 14.Pantsætninger og sikkerhedsstillelserCharges and securityTil sikkerhed for gæld er der givet virk­som­heds­pant på t.DKK 48.600 om­fat­tende drifts­ma­te­riel og in­ven­tar, vare­be­hold­nin­ger og simple fordringer. Den sam­lede regn­skabs­mæs­sige vær­di af om­fat­tede ak­ti­ver ud­gør t.DKK 6.300.As security for debt, the company has provided a business charge of DKK'000 48.600, covering operating equipment and fixtures, inventories, and trade receivables. The total carrying amount of the pledged assets amounts to DKK'000 6,300. 15.Nærtstående parterRelated partiesSelskabet indgår i koncern­regn­ska­bet for mo­der­virk­som­he­den Viridor Limited, UK.The company is included in the consolidated finan­cial statements of the parent Viridor Limited, UK. Årsrapporten er af­lagt i over­ens­stem­mel­se med års­regn­skabs­lo­ven for virk­som­he­der i regn­skabs­klas­se B med til­valg af be­stem­mel­ser fra en hø­je­re regn­skabs­klas­se. The annual report is presen­ted in ac­cord­ance with the provisions of the Danish Fi­nan­cial Statements Act (Årsregn­skabs­lov­en) for enterprises in re­port­ing class B with application of pro­vi­sions for a higher reporting class. Det er blevet besluttet at selskabets aktiviteter skal nedlukkes i det kommende regnskabsår. An­vendt regn­skabs­prak­sis i års­rap­por­ten er uæn­dret i for­hold til tid­li­ge­re år, men an­ven­del­se af reg­ler­ne om ind­reg­ning, må­ling og klas­si­fi­ka­tion er sket un­der hen­syn­ta­gen til, at sel­ska­bets ak­ti­ver og for­plig­tel­ser for­ven­tes rea­li­se­ret som føl­ge af nedlukningen Sam­men­lig­nings­tal­le­ne er ikke til­pas­set. It has been decided to wind down the company's activities during the coming financial year. The accounting policies applied in the annual report are unchanged from previous years. However, the recognition, measurement and classification of the company's assets and liabilities have been adjusted to reflect their expected realisation as part of the planned winding-down of the company's activities. Comparative figures have not been restated. Ændring i anvendt regnskabspraksisSelskabet har æn­dret regn­skabs­prak­sis på føl­gen­de om­rå­der:Ændring af anvendt regnskabspraksis for leasing og omsætning – indregning og måling efter IFRS 15 og 16.Selskabet har med virkning for regnskabsåret 2025/2026 valgt at anvende årsregnskabslovens mulighed for at anvende IFRS 15, Omsætning fra kontrakter med kunder, og IFRS 16, Leasing, indenfor lovens rammer. Selskabet har således ændret sin regnskabspraksis, jf. nedenfor. Selskabets regnskabspraksis er ændret, da det er ledelsens vurdering, at den ændrede regnskabspraksis bedre fører til et retvisende billede af selskabets aktiver, forpligtelser, denfinansielle stilling samt resultatet. Ændringen indebærer samtidig, at selskabet har samme regnskabspraksis som den øvrige koncern, Selskabet er en del af. Ændringen af regnskabspraksis er gennemført baseret på overgangsreglerne i IFRS 16 og IFRS 15. Selskabets sammenligningstal er ikke tilpasset, hvormed effekten ved ændring af regnskabspraksis er indregnet som en primoregulering i overført resultat pr. 1. april 2025. Ændringen i regnskabspraksis har haft følgende effekt på årets resultat, aktiver og egenkapital: Årets resultat: t.DKK 2.049Aktiver: t.DKK 30.243Egenkapital, t.DKK -31.463Bortset fra oven­nævn­te om­rå­der er den an­vend­te regn­skabs­prak­sis uæn­dret i for­hold til sid­ste år. Change in accounting policiesThe company has changed its accounting policies in the following areas:Change in Accounting Policies for Leases and Revenue Recognition and Measurement under IFRS 15 and IFRS 16The Company has elected, with effect from the financial year 2025/26, to apply the provisions of IFRS 15, Revenue from Contracts with Customers, and IFRS 16, Leases, within the framework permitted by the Danish Financial Statements Act. Accordingly, the Company has changed its accounting policies as described below.The accounting policies have been changed because Management believes that the revised accounting policies provide a more faithful representation of the Company's assets,liabilities, financial position and results of operations. Furthermore, the change aligns the Company's accounting policies with those applied by the Group of which the Company is a part.The change in accounting policies has been implemented in accordance with the transition provisions of IFRS 15 and IFRS 16. Comparative figures have not been restated. Consequently, the cumulative effect of initially applying the new accounting policies has been recognised as an adjustment to retained earnings as at 1 April 2025.The change in accounting policies has had the following effect on profit for the year, assets and equity:Profit for the year, DKK'000: 2.049 Total assets, DKK'000: 30.243Equity, DKK'000: -31.463Except for the areas mentioned above, the accounting policies have been applied consist­ently with the previous year. Generelt om indregning og målingI resultatopgørelsen ind­reg­nes ind­tæg­ter i takt med, at de ind­tje­nes, her­un­der ind­reg­nes vær­di­re­gu­le­rin­ger af fi­nan­siel­le ak­ti­ver og for­plig­tel­ser. I re­sul­tat­op­gø­rel­sen ind­reg­nes lige­le­des alle om­kost­nin­ger, her­un­der af­skriv­nin­ger og ned­skriv­nin­ger.I balancen indregnes ak­ti­ver, når det er sand­syn­ligt, at frem­ti­di­ge øko­no­mis­ke for­de­le vil til­fly­de selskabet, og ak­ti­vets vær­di kan må­les på­lide­ligt. For­plig­tel­ser ind­reg­nes i ba­lan­cen, når det er sand­syn­ligt, at frem­ti­di­ge øko­no­mis­ke for­de­le vilfra­gå selskabet, og for­plig­tel­sens vær­di kan må­les på­li­de­ligt. Ved før­ste ind­reg­ning må­les ak­ti­ver og for­plig­tel­ser til kost­pris. Efter­føl­gen­de må­les ak­ti­ver og for­plig­tel­ser som be­skre­vet ne­den­for for hver en­kelt regn­skabs­post.Ved indregning og må­ling ta­ges hen­syn til for­ud­sige­li­ge tab og ri­si­ci, der frem­kom­mer in­den års­rap­por­ten af­læg­ges, og som be- eller af­kræf­ter for­hold, der ek­sis­te­re­de på ba­lan­ce­da­gen. Basis of recognition and measurementIncome is recognised in the income state­ment as earned, including value adjust­ments of fin­an­cial assets and liabilities. All ex­penses, including depreciation, amortisa­tion, impair­ment losses and write-downs, are also recognised in the in­come state­ment.Assets are recognised in the balance sheet when it is probable that future economic bene­fits will flow to the company, and the value of such assets can be measured reliably. Liabilities are recognised in the balance sheet when it isprobable that future economic benefits will flow from the company, and the value of such liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below.On recognition and measurement, account is taken of foreseeable losses and risks arising before the date at which the annual report is presented and proving or disproving matters arising on or before the balance sheet date. VALUTAÅrsrapporten er aflagt i danske kroner.Transaktioner i fremmed valuta om­reg­nes ved før­ste ind­reg­ning til trans­ak­tions­da­gens kurs. Va­lu­ta­kurs­dif­fe­ren­cer, der op­står mel­lem trans­ak­tions­da­gens kurs og kur­sen på be­ta­lings­da­gen, ind­reg­nes i re­sul­tat­op­gø­rel­sen som en fi­nan­siel post. Til­go­de­ha­ven­der, gælds­for­plig­tel­ser og an­dre mo­ne­tæ­re pos­ter i frem­med va­lu­ta om­reg­nes til ba­lan­ce­da­gens va­lu­ta­kurs. For­skel­len mel­lem ba­lan­ce­da­gens kurs og kur­sen på tids­punk­tet for til­go­de­ha­ven­dets el­ler gælds­for­plig­tel­sens op­stå­en el­ler ind­reg­ning i se­ne­ste års­rap­port ind­reg­nes i re­sul­tat­op­gø­rel­sen un­der fi­nan­siel­le ind­tæg­ter og om­kost­nin­ger. An­lægs­ak­ti­ver, vare­be­hold­nin­ger og an­dre ik­ke mo­ne­tæ­re ak­ti­ver, der er er­hver­vet i frem­med va­lu­ta, om­reg­nes til hi­sto­ris­ke va­lu­ta­kur­ser. CURRENCYThe annual report is presen­ted in Danish kroner (DKK).On initial recognition, transactions den­ominated in foreign currencies are trans­lated using the exchange rates applicable at the transaction date. Exchange rate differences between the exchange rate applicable at the transaction date and the exchange rate at the date of payment are recognised in the income statement as a financial item. Receivables, payables and other monetary items denominated in foreign currencies are translated using the exchange rates applicable at the balance sheet date. The difference between the ex­change rate applicable at the balance sheet date and at the date at which the receivable or payable arose or was recognised in the latest annual report is recognised under financial income or ex­penses in the income statement. Fixed assets, inventories and other non-monetary assets acquired in foreign currencies are translated using historical exchange rates. LEASINGKONTRAKTERTidligere anvendt regnskabspraksis (sammenligningstal)Leasingkontrakter vedrørende ak­ti­ver, hvor selskabet har al­le væ­sent­li­ge for­de­le og ri­si­ci for­bun­det med ejen­doms­ret­ten over ak­ti­vet (fi­nan­siel­le lea­sing­kon­trak­ter), ind­reg­nes i ba­lan­cen. Fi­nan­sielt lea­se­de ak­ti­ver og der­til­hø­rende lea­sing­for­plig­tel­ser må­les ved før­ste ind­reg­ning til dags­vær­dien af det lea­se­de ak­tiv el­ler nu­tids­vær­dien af de frem­ti­di­ge lea­sing­ydel­ser, hvis den­ne er la­ve­re. Fi­nan­sielt lea­se­de ak­ti­ver beh­and­les ef­ter­føl­gende som øv­rige til­sva­ren­de ak­ti­ver. Leasingforpligtelser vedrørende fi­nan­sielt lea­se­de ak­ti­ver ind­reg­nes i ba­lan­cen som gælds­for­plig­tel­ser. Ef­ter før­ste ind­reg­ning må­les lea­sing­for­plig­tel­ser til amor­ti­se­ret kost­pris, hvor­ef­ter lea­sing­ydel­sens ren­te­del ind­reg­nes i re­sul­tat­op­gø­rel­sen over lea­sing­pe­rio­den.Ny anvendt regnskabspraksis:Leasingkontrakter indregnes i balancen svarende til værdien af den opgjorte leasingforpligtelse. Leasingforpligtelsen måles til nutidsvæ rdien af leasingydelserne, beregnet ved anvendelse af den interne rente, jf. leasingkontrakten eller selskabets marginale lånerente som diskonteringssats, hvis den interne rente ikke er tilgæ ngelig. Leasingaktiver af- og nedskrives efter samme praksis som fastlagt for selskabets øvrige anlæ gsaktiver. Selskabet har valgt at anvende lempelserne vedrørende leasingkontrakter med kort løbetid og lav værdi. Disse leasingaktiver indregnes derfor ikke i balancen som aktiver og forpligtelser. Leasingforpligtelsen vedrørende leasingkontrakter med kort løbetid og lavvæ rdi oplyses i en note. Omkostningerne indregnes således lineært i resultatopgørelsen hen over leasingperioden. Leasingforpligtelsen indregnes i balancen som en gæ ldsforpligtelse og reguleres løbende med betalte afdrag. Samtidig tilskrives renter på forpligtelsen. Renteomkostningerne omkostningsføres løbende i resultatopgørelsen LEASESAccounting Policies Applied in the Comparative Period:Leases relating to assets where the company has substantially all the risks and benefits incidental to the ownership of the asset (finance leases) are recognised in the balance sheet. On initial recognition, assets held under finance leases and related lease commitments are measured at the lower of the fair value of the leased asset and the present value of future lease payments. Subsequently, assets held under finance leases are treated like other similar assets. Lease commitments relating to assets held under finance leases are recognised in the balance sheet as payables. Subsequent to initial recognition, lease commitments are measured at amortised cost according to which the interest element of the lease pay­ment is recognised in the income statement over the lease term.New Accounting Policies Adopted:Lease contracts are recognised in the statement of financial position at an amount corresponding to the recognised lease liability. The lease liability is measured at the present value of future lease payments, discounted using the interest rate implicit in the lease or, where that rate cannot be readily determined, the Company's incremental borrowing rate. Right-of-use assets are depreciated and tested for impairment in accordance with the accounting policies applicable to the Company's other non-current assets.The Company has elected to apply the recognition exemptions for short-term leases and leases of low-value assets. Consequently, such leases are not recognised in the statement of financial position as right-of-use assets and lease liabilities. Commitments relating to short-term leases and leases of low-value assets are disclosed in a note to the financial statements. Lease payments relating to these leases are recognised on a straight-line basis in profit or loss over the lease term.The lease liability is recognised in the statement of financial position as a financial liability and is subsequently measured by reducing the carrying amount for lease payments made. At the same time, interest is accrued on the lease liability. Interest expense is recognised in profit or loss over the lease term. BruttofortjenesteBruttofortjeneste indeholder net­to­om­sæt­ning og pro­duk­tions­om­kost­ninger samt an­dre drifts­ind­tæg­ter. Gross profitGross profit comprises rev­enue and pro­duc­tion costs as well as other operating in­come. NettoomsætningTidligere anvendt regnskabspraksis (sammenligninstal):Indtægter fra salg af varer indregnes i resultatopgørelsen, såfremt levering og risikoovergang til køber har fundet sted inden udgangen af regnskabsåret, og når salgsbeløbet kan opgøres pålideligt og forventes indbetalt. Nettoomsætning måles til dagsværdi og opgøres ekskl. moms og afgifter opkrævet på vegne af tredjemand samt med fradrag af rabatter.Ny anvendt regnskabspraksis: Omsætning fra kontrakter med kunder indregnes baseret på overgang af kontrol, som efter IFRS 15 sker på det tidspunkt, hvor kontrollen over det leverede produkt overføres til kunden. Kontrollen anses for overført, når: der foreligger en forpligtende salgsaftale, levering har fundet sted inden regnskabsårets udløb, salgsprisen er fastlagt, og indbetalingen er modtaget eller med rimelig sikkerhed kan forventes modtaget. Omsætning, hvor selskabet leverer services indregnes over tid (“entreprisekontrakter”). Her måles omsæ tningen baseret på salgsvæ rdien afårets udførte arbejder (produktionsmetoden). Denne metode anvendes, når de samlede indtægter og omkostninger på entreprisekontrakten og fæ rdiggørelsesgraden på balancedagen kan opgøres pålideligt, og det er sandsynligt, at de økonomiske fordele, herunder betalinger, vil tilgå Selskabet. Som færdiggørelsesgrad anvendes afholdte omkostninger i forhold til de forventede samlede omkostninger på entreprisekontrakten. Omsætningen indregnes eksklusive moms og med fradrag af rabatter i forbindelse med salget. RevenueAccounting Policies Applied in the Comparative Period:Income from the sale of goods is recognised in the income statement if delivery has taken place and the risk has passed to the buyer before the end of the financial year and where the selling price can be determined reliably and is expected to be paid. Revenue is measured at fair value and is determined exclusive of VAT and other taxes collected on behalf of third parties and less discounts.New Accounting Policies AdoptedRevenue from contracts with customers is recognised based on the transfer of control in accordance with IFRS 15. Revenue is recognised at the point in time when control of the goods or services is transferred to the customer.Control is considered to have transferred when:a binding sales agreement exists;delivery has occurred before the end of the reporting period;the sales price has been determined; andpayment has been received or is reasonably assured.Revenue from service contracts is recognised over time ("construction contracts"). Revenue is measured based on the value of work performedduring the year using the percentage-of-completion method. This method is applied when total contract revenue and costs, as well as the stage of completion at the reporting date, can be measured reliably and it is probable that the economic benefits associated with the contract, including customer payments, will flow to the Company. The stage of completion is determined based on costs incurred to date as a proportion of the estimated total contract costs.Revenue is measured net of value added tax (VAT) and after deduction of discounts and rebates granted in connection with sales. ProduktionsomkostningerI produktionsomkostninger indregnes om­kost­nin­ger, der di­rek­te el­ler in­di­rek­te af­hol­des for at op­nå årets net­to­om­sæt­ning, her­un­der rå­varer og hjæl­pe­ma­te­ria­ler, løn og ga­ger samt lea­sing af og af- og ned­skriv­nin­ger på an­lægs­ak­ti­ver, som an­ven­des i pro­duk­tions­pro­ces­sen. Production costsCosts incurred, directly or indirectly, to generate the revenue for the year, including raw materials and consumables, wages and salaries and lease of and depreciation, amortisation and impairment losses on the fixed assets used in the production process, are recognised under production costs. AdministrationsomkostningerI administrationsomkostninger ind­reg­nes om­kost­nin­ger, der er af­holdt i året til le­del­se og ad­mi­ni­stra­tion, her­un­der løn og ga­ger til det ad­mi­ni­stra­ti­ve per­so­na­le og le­del­se samt om­kost­nin­ger til kon­tor­lo­ka­ler, kon­tor­om­kost­nin­ger, tab på de­bi­to­rer m.v. samt lea­sing af og af- og ned­skriv­nin­ger på an­lægs­ak­ti­ver, der an­ven­des til ad­mi­ni­stra­tive for­hold. Administrative expensesExpenses incurred during the year for management and administration, including wages and salaries for administrative staff and management as well as office premise expenses, office expenses, bad debts etc. and lease of and depreciation, amortisation and impairment losses on the fixed assets used for administration, are recognised under administrative expenses. Andre driftsindtægterAndre driftsindtægter omfatter ind­tæg­ter af se­kun­dær ka­rak­ter i for­hold til virk­som­he­dens ak­ti­vi­te­ter, her­un­der leje­ind­tæg­ter, løntilskud/-refusioner, ne­ga­tiv good­will og ge­vin­ster ved salg af im­ma­te­riel­le og ma­te­riel­le an­lægs­ak­ti­ver. Other operating incomeOther operating income comprises income of a secondary nature in relation to the enterprise’s activities, including rental income, salary supplements and refunds, negative goodwill and gains on the sale of intangible assets and property, plant and equipment. Af- og nedskrivningerAfskrivninger på im­ma­te­ri­el­le og ma­te­ri­el­le an­lægs­ak­ti­ver til­sig­ter, at der sker sys­te­ma­tisk af­skriv­ning over ak­ti­ver­nes for­ven­te­de brugs­tid. Der fore­ta­ges li­ne­ære af­skriv­nin­ger ba­se­ret på føl­gen­de brugs­ti­der og rest­vær­dier:Byg­nin­gerIndretning af lejede lokalerPro­duk­tions­an­læg og ma­ski­nerAndre anlæg, drifts­ma­te­riel og in­ven­tarAfskrivningsgrundlaget er aktivets kost­pris fra­truk­ket for­ven­tet rest­vær­di ved af­slut­tet brugs­tid. Af­skriv­nings­grund­la­get re­du­ce­res end­vi­de­re med even­tuel­le ned­skriv­nin­ger. Brugs­ti­den og rest­vær­dien fast­sæt­tes, når ak­ti­vet er klar til brug, og re­vur­de­res år­ligt. De­pre­ci­a­tion, amor­ti­sa­tion and impair­ment lossesThe de­pre­ci­a­tion and amor­ti­sa­tion of in­tan­gi­ble as­sets and prop­er­ty, plant and equip­ment aim at systematic de­pre­ci­a­tion and amor­ti­sa­tion over the expected useful lives of the assets. Assets are de­pre­ci­ated and amor­tised according to the straight-line method based on the following ex­pected useful lives and residual values:Brugs­tid, år10-2055-203-5The basis of de­pre­ci­a­tion and amor­ti­sa­tion is the cost of the asset less the expected residual value at the end of the useful life. Moreover, the basis of de­pre­ci­a­tion and amor­ti­sa­tion is reduced by any impairment losses. The useful life and residual value are determined when the asset is ready for use and reassessed annually. Andre finansielle posterUnder andre finansielle pos­ter ind­reg­nes ren­te­ind­tæg­ter og ren­te­om­kost­nin­ger, ren­te­de­len af fi­nan­siel­le lea­sing­ydel­ser, valu­ta­kurs­ge­vin­ster og -tab ved trans­ak­tio­ner i frem­med va­lu­ta m.v. Other net financialsInterest income and interest expenses, the interest element of finance lease payments, for­eign exchange gains and losses on trans­ac­tions denominated in foreign currencies etc. are recognised in other net financials. Skat af årets resultatÅrets aktuelle og udskudte skatter ind­reg­nes i re­sul­tat­op­gø­rel­sen som skat af årets re­sul­tat med den del, der kan hen­fø­res til årets re­sul­tat, og di­rek­te i egen­ka­pi­ta­len med den del, der kan hen­fø­res til pos­ter ind­reg­net di­rek­te i egen­ka­pi­ta­len.Selskabet er sambeskattet med danske kon­cern­for­bund­ne virk­som­he­der. Den aktuelle danske selskabsskat for­de­les ved af­reg­ning af sam­be­skat­nings­bi­drag mel­lem de sam­be­skat­te­de virk­som­he­der i for­hold til dis­ses skat­te­plig­tige ind­kom­ster. I til­knyt­ning her­til mod­ta­ger virk­som­he­der med skat­te­mæs­sigt un­der­skud sam­be­skat­nings­bi­drag fra virk­som­he­der, der har kun­net an­ven­de det­te un­der­skud til ned­sæt­tel­se af eget skat­te­mæs­sigt over­skud. Tax on profit/loss for the yearThe current and deferred tax for the year is recognised in the income statement as tax on the profit/loss for the year with the portion attributable to the profit/loss for the year, and directly in equity with the portion attributable to amounts recognised directly in equity.The company is jointly taxed with Danish consolidated enterprises. In connection with the settlement of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed enterprises in proportion to their tax­able incomes. This means that enter­prises with a tax loss receive joint taxation contributions from enterprises which have been able to use this loss to reduce their own taxable profit. Materielle anlægsaktiverMaterielle anlægsaktiver om­fat­ter grunde og bygninger, indretning af lejede lokaler, pro­duktionsanlæg og maskiner samt andre anlæg, driftsmateriel og inventar.Materielle anlægsaktiver måles i ba­lan­cen til kost­pris med fra­drag af ak­ku­mu­le­re­de af- og ned­skriv­nin­ger. Kostprisen omfatter an­skaf­fel­ses­prisen samt om­kost­nin­ger di­rek­te til­knyt­tet an­skaf­fel­sen ind­til ak­ti­vet er klar til brug. Ren­ter af lån til at fi­nan­siere frem­stil­lin­gen ind­reg­nes i kost­pri­sen.Kostprisen for et samlet aktiv op­de­les i se­pa­ra­te be­stand­de­le, der af­skri­ves hver for sig, hvis brugs­ti­den på de en­kel­te be­stand­de­le er for­skel­lig.Materielle anlægsaktiver afskrives line­ært ba­se­ret på brugs­ti­der og rest­vær­dier, som frem­går af af­snit­tet ”Af- og ned­skriv­nin­ger”.Materielle anlægsaktiver under udførelseMaterielle anlægsaktiver under ud­fø­rel­se må­les til kost­pris. Af­hold­te om­kost­nin­ger ved­rø­rende ma­te­riel­le an­lægs­ak­ti­ver un­der ud­fø­rel­se over­fø­res til den re­le­van­te ak­tiv­ka­te­go­ri, når ak­ti­vet er klar til brug.Gevinster eller tab ved afhændelse af materielle anlægsaktiverGevinster eller tab ved afhændelse af ma­te­riel­le an­lægs­ak­ti­ver op­gø­res som for­skel­len mel­lem en even­tuel salgs­pris med fra­drag af salgs­om­kost­nin­ger og den regn­skabs­mæs­si­ge vær­di på salgs­tids­punk­tet fra­truk­ket even­tuel­le om­kost­nin­ger til bort­skaf­fel­se. Property, plant and equipmentProperty, plant and equipment comprise land and buildings, leasehold improvements, plant and machinery as well as other fixtures and fittings, tools and equipment.Property, plant and equipment are meas­ured in the balance sheet at cost less accumulated depreciation and impairment losses. Cost comprises the purchase price and expenses resulting directly from the purchase until the asset is ready for use. Interest on loans arranged to finance production is included in the cost.The total cost of an asset is decomposed into separate components that are depreciated separately if the useful lives of the individual components vary.Property, plant and equipment are depreci­ated using the straight-line method based on useful lives and residual values, which are stated in the ‘De­pre­ci­a­tion, amor­ti­sa­tion and impair­ment losses' section.Property, plant and equipment under construc­tionProperty, plant and equipment under con­struc­tion are measured at cost. Costs incurred on property, plant and equipment under construction are transferred to the relevant asset category when the asset is ready for use.Gains and losses on the disposal of property, plant and equipmentGains and losses on the disposal of property, plant and equipment are determined as the difference between the selling price, if any, less selling costs and the carrying amount at the date of disposal less any costs of disposal. Nedskrivning af anlægsaktiverDen regnskabsmæssige værdi af anlægs­ak­ti­ver, der ikke må­les til dags­vær­di, vur­de­res år­ligt for in­di­ka­tio­ner på vær­di­for­rin­gel­se ud over det, som ud­tryk­kes ved af­skriv­ning.Hvis selskabets realiserede afkast af et aktiv eller en grup­pe af ak­ti­ver er la­ve­re end for­ven­tet, an­ses det­te som en in­di­ka­tion på vær­di­for­rin­gel­se.Foreligger der indikationer på værdi­for­ring­el­se, fore­ta­ges ned­skriv­nings­test af hvert en­kelt ak­tiv hen­holds­vis hver grup­pe af ak­ti­ver.Der foretages nedskrivning til gen­ind­vin­dings­vær­dien, hvis den­ne er la­ve­re end den regn­skabs­mæs­si­ge vær­di.Som genindvindingsværdi anvendes den hø­jes­te vær­di af net­to­salgs­pris og ka­pi­tal­vær­di. Ka­pi­tal­vær­dien op­gø­res som nu­tids­vær­dien af de for­ven­te­de net­to­pen­ge­strøm­me fra an­ven­del­sen af ak­ti­vet eller ak­tiv­grup­pen samt for­ven­te­de net­topen­ge­strøm­me ved salg af ak­ti­vet el­ler ak­tiv­grup­pen efter endt brugs­tid.Nedskrivninger tilbageføres, når be­grun­del­sen for ned­skriv­nin­gen ikke læn­ge­re består. Impairment losses on fixed assetsThe carrying amount of fixed assets which are not measured at fair value is assessed annually for indications of impairment over and above what is reflected in de­pre­ci­a­tion and amor­ti­sa­tion.If the company's realised return on an asset or a group of assets is lower than expected, this is considered an indication of impairment.If there are indications of impairment, an impairment test is conducted of individual assets or groups of assets.The assets or groups of assets are impaired to the lower of recoverable amount and carrying amount.The higher of net selling price and value in use is used as the recoverable amount. The value in use is determined as the present value of expected net cash flows from the use of the asset or group of assets as well as expected net cash flows from the sale of the asset or group of assets after the expiry of their useful lives.Impairment losses are reversed when the reasons for the impairment no longer exist. VarebeholdningerVarebeholdninger måles til kostpris på grund­lag af ve­je­de gen­nem­snits­pri­ser. Der ned­skri­ves til netto­rea­li­sa­tions­vær­dien, hvis den­ne er la­ve­re.Kostpris for råvarer og hjælpe­ma­te­ria­ler samt han­dels­va­rer op­gø­res som købs­pri­ser med til­læg af om­kost­nin­ger di­rek­te for­an­le­di­get af an­skaf­fel­sen.Kostpris for fremstillede færdigvarer og va­rer un­der frem­stil­ling op­gø­res som vær­dien af di­rek­te med­gåede ma­te­ria­ler og løn. Ren­ter af lån til at fi­nan­siere frem­stil­lin­gen ind­reg­nes ikke i kost­pri­sen.Nettorealisationsværdien for vare­be­hold­nin­ger op­gø­res som salgs­sum med fra­drag af fær­dig­gø­rel­ses­om­kost­nin­ger og om­kost­nin­ger, der af­hol­des for at ef­fek­tuere sal­get, og fast­sæt­tes un­der hen­syn­ta­gen til om­sæt­te­lig­hed, uku­rans og ud­vik­ling i for­ven­tet salgs­pris. InventoriesInventories are measured at cost calculated according to weighted average prices. Inventories are written down to the lower of cost and net realisable value.The cost of raw materials and consumables as well as goods for resale is determined as purchase prices plus expenses resulting directly from the purchase.The cost of manufactured finished goods and work in progress is determined as the value of direct material and labour costs. Interest on loans arranged to finance production is not included in the cost.The net realisable value of inventories is determined as the selling price less costs of completion and costs necessary to make the sale and is determined taking into account marketability, obsolescence and the expected development in the selling price. TilgodehavenderTilgodehavender måles til amortiseret kost­pris, hvil­ket sæd­van­lig­vis sva­rer til på­ly­den­de vær­di med fra­drag af ned­skriv­nin­ger til imø­de­gåel­se af tab.Nedskrivninger til imødegåelse af tab op­gø­res på grund­lag af en in­di­vi­duel vur­de­ring af de en­kel­te til­go­de­ha­ven­der, når der på in­di­vi­duelt ni­veau fore­lig­ger en ob­jek­tiv in­di­ka­tion på, at et til­go­de­ha­ven­de er vær­di­for­rin­get.Deposita, der er indregnet under ak­ti­ver, om­fat­ter be­tal­te de­po­si­ta til ud­le­jer ved­rø­ren­de selskabets ind­gåe­de leje­af­ta­ler. ReceivablesReceivables are measured at amortised cost, which usually corresponds to the nom­inal value, less write-downs for bad debts.Write-downs for bad debts are determined based on an individual assessment of each receivable if there is no objective evidence of individual impairment of a receivable.Deposits recognised under assets comprise deposits paid to the lessor under leases entered into by the company. PeriodeafgrænsningsposterPeriodeafgrænsningsposter, der er ind­reg­net un­der ak­ti­ver, om­fat­ter af­hold­te om­kost­nin­ger ved­rø­ren­de efter­føl­gen­de regn­skabs­år. PrepaymentsPrepayments recognised under assets com­prise costs incurred in respect of subse­quent financial years. Likvide beholdningerLikvide beholdninger omfatter indestående på bankkonti. CashCash includes deposits in bank accounts. EgenkapitalTilskud modtaget fra moder­virk­som­he­den ind­reg­nes di­rek­te i egen­ka­pi­ta­len un­der over­ført re­sul­tat, idet til­skud­de­ne regn­skabs­mæs­sigt be­hand­les som ka­pi­tal­ind­skud. EquityGrants received from the parent are recognised directly in equity under retained earnings, as the grants are treated as capital contributions. Aktuelle og udskudte skatterSkyldig og tilgodehavende ak­tuel skat ind­reg­nes i ba­lan­cen som be­reg­net skat af årets skat­te­plig­tige ind­komst, re­gu­le­ret for be­tal­te acon­to­skat­ter.Skyldige og tilgodehavende sam­be­skat­nings­bi­drag ind­reg­nes i ba­lan­cen som sel­skabs­skat un­der til­go­de­ha­ven­der eller gælds­for­plig­tel­ser.Udskudte skatteforpligtelser og ud­skud­te skat­te­ak­ti­ver be­reg­nes af alle mid­ler­ti­di­ge for­skel­le mel­lem regn­skabs­mæs­si­ge og skat­te­mæs­sige vær­dier af ak­ti­ver og for­plig­tel­ser. Der ind­reg­nes dog ikke ud­skudt skat af mid­ler­ti­dige for­skel­le ved­rø­rende skat­te­mæs­sigt ikke af­skriv­nings­be-ret­ti­get good­will samt an­dre pos­ter, hvor mid­ler­ti­di­ge for­skel­le, bort­set fra virk­som­heds­over­ta­gel­ser, er op­stå­et på an­skaf­fel­ses­tids­punk­tet uden at have ef­fekt på re­sul­tat eller skat­te­plig­tig ind­komst. I de til­fæl­de, hvor op­gø­rel­se af skat­te­­vær­dien kan fore­ta­ges efter for­skel­lige be­skat­nings­reg­ler, må­les ud­skudt skat på grund­lag af den af le­del­sen plan­lag­te an­ven­del­se af ak­ti­vet hen­holds­vis af­vik­ling af for­plig­tel­sen.Udskudte skatteaktiver indregnes med den vær­di, de ef­ter vur­de­ring for­ven­tes at kun­ne re­a­li­se­res til ved mod­reg­ning i ud­skud­te skat­te­for­plig­tel­ser eller ved ud­lig­ning i skat af frem­ti­dig ind­tje­ning.Udskudt skat måles på grundlag af de skat­te­reg­ler og skat­te­sat­ser, der med ba­lan­ce­da­gens lov­giv­ning vil være gæl­den­de, når den ud­skud­te skat for­ven­tes ud­løst som ak­tuel skat. Current and deferred taxCurrent tax payable and receivable is recognised in the balance sheet as tax computed on the basis of the taxable income for the year, adjusted for tax paid on account.Joint taxation contributions payable and receivable are recognised as income tax under receivables or payables in the balance sheet.Deferred tax liabilities and tax assets are recognised on the basis of all temporary differences between the carrying amounts and tax bases of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is non-amortisable for tax purposes and other items where temporary differ­ences, except for acquisitions, have arisen at the date of acquisition without affecting the net profit or loss for the year or the tax­able income. In cases where the tax value can be determined according to different taxation rules, deferred tax is measured on the basis of management’s intended use of the asset or settlement of the liability.Deferred tax assets are recognised, following an assessment, of the expected realisable value through offsetting against deferred tax liabilities or elimination in tax on future earnings.Deferred tax is measured on the basis of the tax rules and at the tax rates which, according to the legislation in force at the balance sheet date, will be applicable when the deferred tax is expected to crystallise as current tax. GældsforpligtelserLangfristede gældsforpligtelser måles til kost­pris på tids­punk­tet for stif­tel­se af gælds­for­hol­det (lån­op­ta­gel­sen). Gælds­for­plig­tel­ser­ne må­les her­ef­ter til amor­ti­se­ret kost­pris, hvor kurs­tab og låne­om­kost­nin­ger ind­reg­nes i re­sul­tat­op­gø­rel­sen som en fi­nan­siel om­kost­ning over løbe­ti­den på grund­lag af den be­reg­ne­de, ef­fek­tive ren­te på tids­punk­tet for stif­tel­se af gælds­for­hol­det.Kortfristede finansielle gældsforpligtelser måles til amor­ti­se­ret kost­pris, hvil­ket nor­malt sva­rer til gæl­dens på­ly­den­de vær­di. Øvrige kortfristede gældsforpligtelser måles til net­to­reali­sa­tions­vær­di. PayablesLong-term payables are measured at cost at the time of contracting such liabilities (raising of the loan). The payables are subsequently measured at amortised cost where capital losses and loan expenses are recognised in the income statement as a financial expense over the term of the payable on the basis of the calculated effective interest rate in force at the time of contracting the liability.Short-term financial payables are measured at amortised cost, normally corresponding to the nominal value of such payables. Other short-term payables are measured at net realisable value.