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\n\t\t\t\t\tcompany directly or indirectly holds more than 50% of the shares. \u00a0
Basis of consolidation \u00a0
\n\t\t\t\t\tThe consolidated financial statements are prepared on the basis of the \u00a0
\n\t\t\t\t\tfinancial statements of the parent company and those of the subsidiaries, \u00a0
\n\t\t\t\t\twhich are all prepared in accordance with the Group\u2019s accounting policies. \u00a0
\n\t\t\t\t\tOn consolidation, items of the same nature are aggregated and intra-group \u00a0
\n\t\t\t\t\tincome and expenses, intra-group balances and shareholdings are \u00a0
\n\t\t\t\t\teliminated. Unrealised gains and losses on transactions between \u00a0
\n\t\t\t\t\tconsolidated companies are also eliminated. \u00a0
\n\t\t\t\t\tFinancial statement items of subsidiaries are fully consolidated. The non- \u00a0
\n\t\t\t\t\tcontrolling interests\u2019 proportionate share of the profit/loss is included in the \u00a0
\n\t\t\t\t\tconsolidated profit/loss and comprehensive income for the year and as a \u00a0
\n\t\t\t\t\tseparate item under consolidated equity. \u00a0
Non-controlling interests \u00a0
\n\t\t\t\t\tOn initial recognition, non-controlling interests are either recognised at their \u00a0
\n\t\t\t\t\tfair value or at their pro-rata share of the fair value of the acquired company\u2019s \u00a0
\n\t\t\t\t\tidentifiable assets, liabilities and contingent liabilities. The choice of method \u00a0
\n\t\t\t\t\tis made individually for each transaction. The non-controlling interests are \u00a0
\n\t\t\t\t\tsubsequently adjusted for their proportionate share of changes to the equity \u00a0
\n\t\t\t\t\tof the subsidiary. The comprehensive income is allocated to the non- \u00a0
\n\t\t\t\t\tcontrolling interests irrespective of the non-controlling interest consequently \u00a0
\n\t\t\t\t\tbecoming negative. \u00a0
\n\t\t\t\t\tAcquisition or sale of non-controlling interests in a subsidiary not resulting in \u00a0
\n\t\t\t\t\tloss of controlling influence is recognised in the consolidated financial \u00a0
\n\t\t\t\t\tstatements as an equity transaction, and the difference between the \u00a0
\n\t\t\t\t\tremuneration and the carrying amount is allocated to the parent company\u2019s \u00a0
\n\t\t\t\t\tshare of equity. \u00a0
Foreign currency translation \u00a0
\n\t\t\t\t\tOn initial recognition, transactions denominated in currencies other than the \u00a0
\n\t\t\t\t\tindividual company\u2019s functional currency are translated at the exchange rate \u00a0
\n\t\t\t\t\truling at the transaction date. Receivables, payables and other monetary \u00a0
\n\t\t\t\t\titems denominated in foreign currencies that have not been settled at the \u00a0
\n\t\t\t\t\tbalance sheet date are translated at the exchange rates at the balance sheet \u00a0
\n\t\t\t\t\tdate. Exchange differences between the exchange rate at the transaction \u00a0
\n\t\t\t\t\tdate and the exchange rate at the date of payment or the balance sheet date, \u00a0
\n\t\t\t\t\trespectively, are recognised in the income statement under financial items. \u00a0
\n\t\t\t\t\tProperty, plant and equipment and intangible assets, inventories and other \u00a0
\n\t\t\t\t\tnon-monetary assets acquired in foreign currency and measured based on \u00a0
\n\t\t\t\t\thistorical cost are translated at the exchange rates at the transaction date. \u00a0
\n\t\t\t\t\tOn recognition in the consolidated financial statements of entities whose \u00a0
\n\t\t\t\t\tfinancial statements are presented in a functional currency other than Danish \u00a0
\n\t\t\t\t\tkroner (DKK), the income statements are translated at average exchange \u00a0
\n\t\t\t\t\trates for the respective months, unless these deviate materially from the \u00a0
\n\t\t\t\t\tactual exchange rates at the transaction dates. In that case, the actual \u00a0
\n\t\t\t\t\texchange rates are used. Balance sheet items are translated at the exchange \u00a0
\n\t\t\t\t\trates at the balance sheet date. \u00a0
\n\t\t\t\t\tExchange differences arising on the translation of foreign subsidiaries\u2019 \u00a0
\n\t\t\t\t\topening balance sheet items to the exchange rates at the balance sheet date \u00a0
\n\t\t\t\t\tand on the translation of the income statements from average exchange rates \u00a0
\n\t\t\t\t\tto exchange rates at the balance sheet date are recognised in other \u00a0
\n\t\t\t\t\tcomprehensive income. \u00a0
\n\t\t\t\t\tForeign exchange adjustments of receivables from or payables to subsidiaries \u00a0
\n\t\t\t\t\twhich are considered part of the parent company\u2019s overall investment in the \u00a0
\n\t\t\t\t\tsubsidiary in question are recognised in other comprehensive income in the \u00a0
\n\t\t\t\t\tconsolidated financial statements, while they are recognised in the income \u00a0
\n\t\t\t\t\tstatement of the parent company. \u00a0
Tax \u00a0
\n\t\t\t\t\tTax for the year, which consists of current tax and changes in deferred tax for \u00a0
\n\t\t\t\t\tthe year, is recognised in the income statement with respect to the portion \u00a0
\n\t\t\t\t\tattributable to the profit/loss for the year and directly in equity with respect \u00a0
\n\t\t\t\t\tto the portion attributable to entries directly in equity. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognised in the balance sheet as the \u00a0
\n\t\t\t\t\ttax calculated on the taxable income for the year, adjusted for tax paid on \u00a0
\n\t\t\t\t\taccount. \u00a0
\n\t\t\t\t\tThe calculation of the year\u2019s current tax is based on the tax rates and tax rules \u00a0
\n\t\t\t\t\tapplicable at the balance sheet date. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the tax rates and tax rules that, based on \u00a0
\n\t\t\t\t\tlegislation in force or in reality in force at the balance sheet date, are expected \u00a0
\n\t\t\t\t\tto apply in the respective countries when the deferred tax is expected to \u00a0
\n\t\t\t\t\tcrystallise as current tax. Changes in deferred tax as a result of changed tax \u00a0
\n\t\t\t\t\trates or rules are recognised in the income statement, unless the deferred tax \u00a0
\n\t\t\t\t\tcan be attributed to items previously recognised directly in equity. In the \u00a0
\n\t\t\t\t\tlatter case, the change is also recognised directly in equity. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the balance sheet liability method on all \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not recognised on temporary \u00a0
\n\t\t\t\t\tdifferences relating to the initial recognition of goodwill or the initial \u00a0
\n\t\t\t\t\trecognition of a transaction, apart from business combinations, and where \u00a0
\n\t\t\t\t\tthe temporary difference existing at the date of initial recognition affects \u00a0
\n\t\t\t\t\tneither profit/loss for the year nor taxable income. \u00a0
\n\t\t\t\t\tDeferred tax is provided on temporary differences arising on investments in \u00a0
\n\t\t\t\t\tsubsidiaries and associates, unless the parent company is able to control \u00a0
\n\t\t\t\t\twhen the deferred tax is to be realised and it is likely that the deferred tax \u00a0
\n\t\t\t\t\twill not crystallise as current tax within the foreseeable future. \u00a0
\n\t\t\t\t\tDeferred tax is calculated based on the planned use of the individual asset \u00a0
\n\t\t\t\t\tand the settlement of the individual liability, respectively. \u00a0
\n\t\t\t\t\tDeferred tax assets, including the tax base of tax loss carry-forwards, are \u00a0
\n\t\t\t\t\trecognised in the balance sheet at the value at which the asset is expected to \u00a0
be realised, either through a set-off against deferred tax liabilities or as net \u00a0
\n\t\t\t\t\ttax assets to be offset against future positive taxable income. At each balance \u00a0
\n\t\t\t\t\tsheet date, an assessment is made as to whether it is likely that there will be \u00a0
\n\t\t\t\t\tsufficient future taxable income for the deferred tax asset to be utilised. \u00a0
INCOME STATEMENT \u00a0
Revenue \u00a0
\n\t\t\t\t\tRevenue is measured as the fair value of the consideration received or \u00a0
\n\t\t\t\t\treceivable. If interest-free credit has been granted for payment of the \u00a0
\n\t\t\t\t\toutstanding consideration extending beyond the usual credit period, the fair \u00a0
\n\t\t\t\t\tvalue of the payment is calculated by discounting future payments. The \u00a0
\n\t\t\t\t\tdifference between the fair value and the nominal value of the consideration \u00a0
\n\t\t\t\t\tis recognised as financial income in the income statement over the extended \u00a0
\n\t\t\t\t\tcredit period by using the effective interest method. \u00a0
\n\t\t\t\t\tRevenue is stated exclusive of VAT, duties, discounts, etc. levied on behalf of \u00a0
\n\t\t\t\t\ta third party. \u00a0
\n\t\t\t\t\tFor leasing contracts that provide for rent exemptions, the effective rent for \u00a0
\n\t\t\t\t\tthe entire contract period is used. \u00a0
\n\t\t\t\t\tRevenues from the sale of real estate (residential units, commercial space, \u00a0
\n\t\t\t\t\tetc.) are recognised at the time when the real estate purchaser takes over \u00a0
\n\t\t\t\t\tcontrol of the real estate acquired and receives significant risks and rewards \u00a0
\n\t\t\t\t\tof ownership. According to the assessment of the management of the \u00a0
\n\t\t\t\t\tcompany, this takes place at the moment of handing over the real estate to \u00a0
\n\t\t\t\t\tthe buyer on the basis of the acceptance protocol signed by the parties, \u00a0
\n\t\t\t\t\tprovided that the buyer has made 100% payments towards the purchase \u00a0
\n\t\t\t\t\tprice of the real estate. \u00a0
Cost of goods and services sold \u00a0
\n\t\t\t\t\tCost of goods and services sold comprise direct costs incurred in generating \u00a0
\n\t\t\t\t\tthe revenue. \u00a0
Other external expenses \u00a0
\n\t\t\t\t\tOther external expenses include premises maintenance costs, advertising \u00a0
\n\t\t\t\t\tcosts, administrative expenses, bad debts, etc. Other external expenses also \u00a0
\n\t\t\t\t\tcomprise costs of development projects that do not qualify for recognition in \u00a0
\n\t\t\t\t\tthe balance sheet. \u00a0
Staff costs \u00a0
\n\t\t\t\t\tStaff costs comprise wages and salaries and social security costs, pensions, \u00a0
\n\t\t\t\t\tshare-based payment, etc. to the employees of the Group. \u00a0
Financial items \u00a0
\n\t\t\t\t\tFinancial items comprise interest income and expenses, the interest element \u00a0
\n\t\t\t\t\tof finance lease payments, realised and unrealised foreign exchange gains \u00a0
\n\t\t\t\t\tand losses as well as surcharges and allowances under the Danish tax \u00a0
\n\t\t\t\t\tprepayment scheme. \u00a0
BALANCE SHEET \u00a0
Investment property \u00a0
\n\t\t\t\t\tInvestment property comprises properties owned for the purpose of \u00a0
\n\t\t\t\t\treceiving rent or obtaining capital gains. \u00a0
\n\t\t\t\t\tOn initial recognition, investment property is measured at cost, comprising \u00a0
\n\t\t\t\t\tthe purchase price and any costs directly attributable to the acquisition. \u00a0
\n\t\t\t\t\tSubsequently, investment property is measured at fair value, representing \u00a0
\n\t\t\t\t\tthe price at which it is estimated that the property can be sold to an \u00a0
\n\t\t\t\t\tindependent buyer at the balance sheet date. \u00a0
\n\t\t\t\t\tInvestment property is divided into four groups: Internal roads; plots \u00a0
\n\t\t\t\t\tdesigned for external
roads; development areas; and industrial buildings. \u00a0
\n\t\t\t\t\tInternal roads; plots designed for external roads; and development areas (in \u00a0
\n\t\t\t\t\tthe following referred to as \u201cproperties\u201d) are valued using a comparative \u00a0
\n\t\t\t\t\tapproach. This approach assumes the variation in prices between at least \u00a0
\n\t\t\t\t\tthree comparable properties can be explained by the differences in their \u00a0
individual attributes such as location, surroundings, accessibility, \u00a0
\n\t\t\t\t\tdevelopment potential etc. The influence of each of these attributes on value \u00a0
\n\t\t\t\t\tis assigned a percentage weighting, and the characteristics of each \u00a0
\n\t\t\t\t\tcomparable and the subject are then rated, typically from 1-5, very good to \u00a0
\n\t\t\t\t\tvery poor. The price of each comparable is adjusted according to how it differs \u00a0
\n\t\t\t\t\tfrom the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on \u00a0
\n\t\t\t\t\tnormal earnings. Income from each lessee is expected to be generated for as \u00a0
\n\t\t\t\t\tlong as the lease is in force or until the first time it may be terminated if \u00a0
\n\t\t\t\t\tconsidered advantageous. Thereafter, income is expected to continue to be \u00a0
\n\t\t\t\t\tgenerated at market rent. Adjustments are made for lost rental income, \u00a0
\n\t\t\t\t\tfitting-out deposits and un-obtainable running costs. \u00a0
\n\t\t\t\t\tThe required rates of return having been set are an important input in \u00a0
\n\t\t\t\t\testimating the fair values. The required rate of return used ranges from 12.3% \u00a0
\n\t\t\t\t\tto 13.0%. \u00a0
\n\t\t\t\t\tAs regards properties where claims as to title have not yet been \u00a0
\n\t\t\t\t\taccommodated, the value is further reduced by 20% due to the risk that such \u00a0
\n\t\t\t\t\tclaims will be accommodated and due to the expenses associated with this \u00a0
\n\t\t\t\t\ttransitional phase. \u00a0
\n\t\t\t\t\tAdjustments of the fair value of investment property are recognised in profit \u00a0
\n\t\t\t\t\tor loss in the financial year in which the change occurred. \u00a0
Investments in subsidiaries \u00a0
\n\t\t\t\t\tOn initial recognition, investments in subsidiaries are measured at cost plus \u00a0
\n\t\t\t\t\ttransaction costs. Where the recoverable amount of the investments is lower \u00a0
\n\t\t\t\t\tthan cost, the investments are written down to this lower value. \u00a0
Inventory \u00a0
Finished products \u00a0
\n\t\t\t\t\tFinished products are mainly residential units and parking spaces. Finished \u00a0
\n\t\t\t\t\tproducts are valued at the lower of the two values: manufacturing cost and \u00a0
\n\t\t\t\t\tnet realisable value. The net realisable value is the estimated selling price \u00a0
\n\t\t\t\t\tassessed by the Management Board of the company based on market prices. \u00a0
\n\t\t\t\t\tWork in progress \u00a0
\n\t\t\t\t\tWork in progress is valued at the lower of the two values: purchase price / \u00a0
\n\t\t\t\t\tproduction cost / fair value at the moment of transfer from the investment \u00a0
\n\t\t\t\t\tproperty (land plots) and the net realisable value. In the event of any \u00a0
\n\t\t\t\t\tdiscrepancies, a write-down is made. With regard to the company's \u00a0
\n\t\t\t\t\tdevelopment projects, the necessity to make an impairment loss is assessed \u00a0
\n\t\t\t\t\ton the basis of the \"impairment test\" described below, based on an analysis \u00a0
\n\t\t\t\t\tof the production cost and the net realisable value. \u00a0
Inventory impairment test \u00a0
\n\t\t\t\t\tIf a development project is expected to generate a loss, it results in a write- \u00a0
\n\t\t\t\t\tdown of work in progress, which is immediately recognised in the profit and \u00a0
\n\t\t\t\t\tloss account. \u00a0
\n\t\t\t\t\tFor each development project, budgets are prepared that include both past \u00a0
\n\t\t\t\t\tand future cash flows for each implemented project. These budgets are \u00a0
\n\t\t\t\t\tupdated at least semi-annually. For the purposes of impairment testing, \u00a0
\n\t\t\t\t\tproject budgets include all past and projected net revenues less the direct \u00a0
\n\t\t\t\t\tcosts of land acquisition, design, construction and other costs related to \u00a0
\n\t\t\t\t\tproject preparation, demonstration premises and the on-site sales office. \u00a0
\n\t\t\t\t\tThese budgets are also encumbered with associated past and projected \u00a0
\n\t\t\t\t\tborrowing costs and projected customer claims (if applicable). Project \u00a0
\n\t\t\t\t\tbudgets are prepared using the principle of prudent valuation. If the margin \u00a0
\n\t\t\t\t\ton the project, calculated taking into account all revenues and the above- \u00a0
\n\t\t\t\t\tmentioned costs, is positive, then there is no need to create an inventory \u00a0
\n\t\t\t\t\timpairment write-down. A negative margin indicates a potential impairment \u00a0
\n\t\t\t\t\tproblem, which, after careful verification of cash flows for a given project, \u00a0
\n\t\t\t\t\tresults in the recognition of an inventory impairment loss in the amount of \u00a0
\n\t\t\t\t\tthe estimated negative value of this margin. \u00a0
\n\t\t\t\t\tThe revaluation write-off is recognised in the cost of sales in the item \u00a0
\n\t\t\t\t\t\"Adjustment of the value of inventories to the net realisable value\". A possible \u00a0
reversal of such an impairment loss for a given project is possible if the \u00a0
\n\t\t\t\t\texpected value of the margin on this project becomes positive. \u00a0
Transferring land plots from investment property to inventories \u00a0
\n\t\t\t\t\tInvestment property is transferred to inventory when the development \u00a0
\n\t\t\t\t\tprocess has been decided and initiated, a decision on the possible way of \u00a0
\n\t\t\t\t\tdeveloping the plot has been obtained, and expenses related to the project \u00a0
\n\t\t\t\t\thave already taken place. \u00a0
Receivables \u00a0
\n\t\t\t\t\tReceivables comprise non-current deposits in connection with the purchase \u00a0
\n\t\t\t\t\tand sale of goods and receivables from sale of goods and services. Receivables \u00a0
\n\t\t\t\t\tare classified as loans and receivables, which are financial assets with fixed or \u00a0
\n\t\t\t\t\tdeterminable payments that are not quoted in an active market and are not \u00a0
\n\t\t\t\t\tderivative financial instruments. \u00a0
\n\t\t\t\t\tOn initial recognition, receivables are measured at fair value and \u00a0
\n\t\t\t\t\tsubsequently at amortised cost, which usually corresponds to the nominal \u00a0
\n\t\t\t\t\tvalue less write-downs for bad debts. \u00a0
\n\t\t\t\t\tThe Group applies the IFRS 9 simplified approach to measuring expected \u00a0
\n\t\t\t\t\tcredit losses which uses a lifetime expected loss allowance for all trade \u00a0
\n\t\t\t\t\treceivables. To measure the expected credit losses, trade receivables have \u00a0
\n\t\t\t\t\tbeen grouped based on shared credit risk characteristics and the days past \u00a0
\n\t\t\t\t\tdue. The expected loss rates are based on the payment profiles of sales over \u00a0
\n\t\t\t\t\ta period of 36 months before 31 December 2021 or 1 January 2021 \u00a0
\n\t\t\t\t\trespectively and the corresponding historical credit losses experienced within \u00a0
\n\t\t\t\t\tthis period. The historical loss rates are adjusted to reflect current and \u00a0
\n\t\t\t\t\tforward-looking information on macroeconomic factors affecting the ability \u00a0
\n\t\t\t\t\tof the customers to settle the receivables. The group has identified the GDP \u00a0
\n\t\t\t\t\tand the unemployment rate of the countries in which it sells its goods and \u00a0
\n\t\t\t\t\tservices to be the most relevant factors, and accordingly adjusts the historical \u00a0
\n\t\t\t\t\tloss rates based on expected changes in these factors. \u00a0
Prepayments \u00a0
\n\t\t\t\t\tPrepayments comprise incurred costs relating to subsequent financial years. \u00a0
\n\t\t\t\t\tPrepayments are measured at cost. \u00a0
Provisions \u00a0
\n\t\t\t\t\tProvisions are recognised when the Group has a legal or constructive \u00a0
\n\t\t\t\t\tobligation as a consequence of past events during the financial year or prior \u00a0
\n\t\t\t\t\tyears, and when it is likely that settlement of the obligation will require an \u00a0
\n\t\t\t\t\toutflow of the Group\u2019s financial resources. Warranty commitments cover \u00a0
\n\t\t\t\t\tcommitments to repair faulty or defective products sold within the warranty \u00a0
\n\t\t\t\t\tperiod. \u00a0
\n\t\t\t\t\tProvisions are measured as the best estimate of the costs required to settle \u00a0
\n\t\t\t\t\tthe liabilities at the balance sheet date. Provisions with an expected term of \u00a0
\n\t\t\t\t\tmore than a year after the balance sheet date are measured at present value. \u00a0
Lease liabilities \u00a0
\n\t\t\t\t\tIFRS 16 eliminates the classification of leases as either operating leases or \u00a0
\n\t\t\t\t\tfinance leases. Lease liabilities for all leases with a term of more than 12 \u00a0
\n\t\t\t\t\tmonths are recognised, unless the underlying asset is of low value. \u00a0
\n\t\t\t\t\tAt the commencement date, a lease liability is measured at the present value \u00a0
\n\t\t\t\t\tof future lease payments. The lease payments are discounted using the \u00a0
\n\t\t\t\t\tinterest rate implicit in the lease, if that rate can be readily determined. If that \u00a0
\n\t\t\t\t\trate cannot be readily determined, the incremental borrowing rate is used. \u00a0
\n\t\t\t\t\tAfter the commencement date, the lease liability is measured by increasing \u00a0
\n\t\t\t\t\tthe carrying amount to reflect interest on the lease liability, reducing the \u00a0
\n\t\t\t\t\tcarrying amount to reflect the lease payments made and remeasuring the \u00a0
\n\t\t\t\t\tcarrying amount to reflect any reassessment or lease modification or to \u00a0
\n\t\t\t\t\treflect revised in-substance fixed lease payments. \u00a0
Other financial liabilities \u00a0
\n\t\t\t\t\tOther financial liabilities comprise bank debt, trade payables and other \u00a0
\n\t\t\t\t\tpayables to public authorities. On initial recognition, other financial liabilities \u00a0
\n\t\t\t\t\tare measured at fair value less transaction costs. In subsequent periods, \u00a0
\n\t\t\t\t\tfinancial liabilities are measured at amortised cost, applying the effective \u00a0
\n\t\t\t\t\tinterest method, to the effect that the difference between the proceeds and \u00a0
\n\t\t\t\t\tthe nominal value is recognised in the income statement as a financial \u00a0
\n\t\t\t\t\texpense over the term of the loan. \u00a0
CASH FLOW STATEMENT \u00a0
\n\t\t\t\t\tThe consolidated cash flow statement is presented according to the indirect \u00a0
\n\t\t\t\t\tmethod and shows cash flows from operating, investing and financing \u00a0
\n\t\t\t\t\tactivities as well as cash and cash equivalents at the beginning and the end of \u00a0
\n\t\t\t\t\tthe year. \u00a0
\n\t\t\t\t\tThe cash effect of acquisitions and divestments of entities is shown separately \u00a0
\n\t\t\t\t\tunder cash flows from investing activities. Cash flows from the acquisition of \u00a0
\n\t\t\t\t\tentities are recognised in the cash flow statement from the date of \u00a0
\n\t\t\t\t\tacquisition. Cash flows from the disposal of entities are recognised up to the \u00a0
\n\t\t\t\t\tdate of disposal. \u00a0
\n\t\t\t\t\tCash flows from operating activities are presented according to the indirect \u00a0
\n\t\t\t\t\tmethod and stated as operating profit, adjusted for non-cash operating items \u00a0
\n\t\t\t\t\tand changes in working capital and financial income and expenses, less the \u00a0
\n\t\t\t\t\tincome tax paid during the financial year attributable to operating activities. \u00a0
\n\t\t\t\t\tCash flows from investing activities comprise payments related to the \u00a0
\n\t\t\t\t\tpurchase and sale of financial assets, including non-current prepayments for \u00a0
\n\t\t\t\t\tgoods, subsidiaries as well as the purchase, development, improvement, sale, \u00a0
\n\t\t\t\t\tetc. of intangible assets and property, plant and equipment. \u00a0
\n\t\t\t\t\tCash flows from financing activities comprise changes in the size or the \u00a0
\n\t\t\t\t\tcomposition of the parent company\u2019s share capital and related costs as well \u00a0
\n\t\t\t\t\tas the raising and repayment of loans, cash deposits, instalments on interest- \u00a0
\n\t\t\t\t\tbearing debt, acquisition of treasury shares and payment of dividends. \u00a0
\n\t\t\t\t\tFurthermore, cash flows regarding assets held under finance leases in the \u00a0
\n\t\t\t\t\tform of lease payments made are recognised. \u00a0
\n\t\t\t\t\tCash and cash equivalents comprise cash deposits. \u00a0
Segment information \u00a0
\n\t\t\t\t\tThe Group is assessed as having two segments: \u00a0
\n\t\t\t\t\t(A) Property management division comprising letting of premises \u00a0
\n\t\t\t\t\tand land and the provision of utilities to tenants, including \u00a0
\n\t\t\t\t\tpower, water, natural gas, facility services, etc. \u00a0
\n\t\t\t\t\t(B) Property development \u2013 including the preparation and \u00a0
\n\t\t\t\t\timplementation of development projects, primarily in the field \u00a0
\n\t\t\t\t\tof housing and commercial space. \u00a0
Financial ratios \u00a0
\n\t\t\t\t\tFormula \u00a0
\n\t\t\t\t\tEBITDA margin (%) \u00a0
\n\t\t\t\t\tEBITDA*100 \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tEBIT margin (%) (Profit margin) \u00a0
\n\t\t\t\t\tEBIT*100 \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tReturn on invested capital (%) \u00a0
\n\t\t\t\t\tEBIT*100 \u00a0
\n\t\t\t\t\tincl. goodwill \u00a0
\n\t\t\t\t\tAverage invested capital \u00a0
\n\t\t\t\t\tEquity ratio (%) \u00a0
\n\t\t\t\t\tEquity*100 \u00a0
\n\t\t\t\t\tTotal assets \u00a0
\n\t\t\t\t\tReturn on equity (%) \u00a0
\n\t\t\t\t\tProfit/loss for the year after tax*100 \u00a0
\n\t\t\t\t\tAverage equity \u00a0
Calculations of earnings per share and diluted earnings per share are specified \u00a0
\n\t\t\t\t\tin Note 8. \u00a0
\n\t\t\t\t\tNet working capital (NWC) is defined as the value of inventories, receivables \u00a0
\n\t\t\t\t\tand other operating assets less trade payables and other current operating \u00a0
\n\t\t\t\t\tliabilities. Cash and cash equivalents and deferred tax assets are not included \u00a0
\n\t\t\t\t\tin the net working capital. \u00a0
\n\t\t\t\t\tNet interest-bearing debt is defined as interest-bearing liabilities less interest- \u00a0
\n\t\t\t\t\tbearing assets, such as cash and cash equivalents. \u00a0
Invested capital is defined as net working capital plus the carrying amount of \u00a0
\n\t\t\t\t\tnon-current property, plant and equipment and intangible assets, less other \u00a0
\n\t\t\t\t\tprovisions and non-current operating liabilities. \u00a0
\n\t\t\t\t\tEBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) is \u00a0
\n\t\t\t\t\tdefined as EBIT plus depreciation, amortisation and goodwill impairment of \u00a0
\n\t\t\t\t\tthe year. \u00a0
New standards, interpretations and amendments effective from \u00a0
\n\t\t\t\t\t1 January 2022 \u00a0
\n\t\t\t\t\tThe following new standards, amendments and interpretations are effective \u00a0
\n\t\t\t\t\tfor the first time for periods beginning on or after 1 January 2022: \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tReference to the Conceptual Framework (Amendments to IFRS 3), \u00a0
\n\t\t\t\t\teffective for periods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tAnnual Improvements to IFRS Standards 2018\u20132020, effective for \u00a0
\n\t\t\t\t\tperiods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIAS 37 Provisions, Contingent Liabilities and Contingent Assets \u00a0
\n\t\t\t\t\t(Amendment \u2013 Onerous Contracts \u2013 Cost of Fulfilling a Contract), \u00a0
\n\t\t\t\t\teffective for periods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tProperty, Plant and Equipment \u2014 Proceeds before Intended Use, \u00a0
\n\t\t\t\t\teffective for periods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\tThe new standards, interpretations and amendments do not have significant \u00a0
\n\t\t\t\t\timpact on the Group\u2019s financial statements. \u00a0
New standards, interpretations and amendments not yet effective \u00a0
\n\t\t\t\t\tThere are a number of standards and interpretations which have been issued \u00a0
\n\t\t\t\t\tby the International Accounting Standards Board that are effective in future \u00a0
\n\t\t\t\t\taccounting periods that the group has decided not to adopt early. The most \u00a0
\n\t\t\t\t\tsignificant of these are: \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIAS 1 \"Presentation of Financial Statements\", the amendments \u00a0
\n\t\t\t\t\tare effective for annual periods beginning on or after 1 January \u00a0
\n\t\t\t\t\t2023 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIAS 8 \"Accounting Policies, Changes in Accounting Estimates and \u00a0
\n\t\t\t\t\tErrors\", the amendments are effective for annual periods begin- \u00a0
\n\t\t\t\t\tning on or after 1 January 2023 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIFRS 16 \u201cLeases\u201d, the amendments are effective for annual re- \u00a0
\n\t\t\t\t\tporting periods beginning on or after 1 January 2024 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIFRS 17 \u201cInsurance Contracts\u201d, the amendments are effective for \u00a0
\n\t\t\t\t\tannual reporting periods beginning on or after 1 January 2023 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1687": {
"value": "1. \u00a0
\n\t\t\t\t\tACCOUNTING POLICIES \u00a0
\n\t\t\t\t\tThe consolidated and the parent company financial statements of CeMat A/S \u00a0
\n\t\t\t\t\tfor 2022 have been prepared in accordance with International Financial \u00a0
\n\t\t\t\t\tReporting Standards as adopted by the EU and additional Danish disclosure \u00a0
\n\t\t\t\t\trequirements for annual reports of reporting class D entities (listed) as set out \u00a0
\n\t\t\t\t\tin the Danish Executive Order on Adoption of IFRSs issued in pursuance of the \u00a0
\n\t\t\t\t\tDanish Financial Statements Act and the rules and regulations of Nasdaq \u00a0
\n\t\t\t\t\tCopenhagen. \u00a0
\n\t\t\t\t\tThe consolidated financial statements and the parent company financial \u00a0
\n\t\t\t\t\tstatements are presented in Danish kroner (DKK), which is the Group\u2019s \u00a0
\n\t\t\t\t\tpresentation currency and the functional currency of the parent company. \u00a0
Implementation of new and revised standards and interpretations \u00a0
\n\t\t\t\t\tNew and revised standards and interpretations applying to financial years \u00a0
\n\t\t\t\t\tbeginning on 1 January 2022 have been implemented in the annual report for \u00a0
\n\t\t\t\t\t2022. \u00a0
\n\t\t\t\t\tStandards and interpretations affecting the profit/loss for the year or the \u00a0
\n\t\t\t\t\tfinancial position \u00a0
\n\t\t\t\t\tThe implementation of new and revised standards and interpretations in the \u00a0
\n\t\t\t\t\tannual report for 2022 has not resulted in changes to presentation or \u00a0
\n\t\t\t\t\tdisclosure. \u00a0
\n\t\t\t\t\tStandards and interpretations affecting presentation and disclosure \u00a0
\n\t\t\t\t\tThe implementation of new and revised standards and interpretations in the \u00a0
\n\t\t\t\t\tannual report for 2022 has not resulted in changes to presentation or \u00a0
\n\t\t\t\t\tdisclosure. \u00a0
\n\t\t\t\t\tStandards and interpretations not yet in force \u00a0
\n\t\t\t\t\tIn Management\u2019s opinion, the application of new and revised standards and \u00a0
\n\t\t\t\t\tinterpretations will not have a material impact on the annual reports for the \u00a0
\n\t\t\t\t\tcoming financial years. In other respects, the accounting policies are \u00a0
\n\t\t\t\t\tconsistent with last year\u2019s, as described in the following. \u00a0
\n\t\t\t\t\tConsolidated financial statements \u00a0
\n\t\t\t\t\tThe consolidated financial statements consolidate the financial statements of \u00a0
\n\t\t\t\t\tthe parent company, CeMat A/S, and subsidiaries in which the parent \u00a0
\n\t\t\t\t\tcompany directly or indirectly holds more than 50% of the shares. \u00a0
INCOME STATEMENT \u00a0
BALANCE SHEET \u00a0
Financial ratios \u00a0
\n\t\t\t\t\tFormula \u00a0
\n\t\t\t\t\tEBITDA margin (%) \u00a0
\n\t\t\t\t\tEBITDA*100 \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tEBIT margin (%) (Profit margin) \u00a0
\n\t\t\t\t\tEBIT*100 \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tReturn on invested capital (%) \u00a0
\n\t\t\t\t\tEBIT*100 \u00a0
\n\t\t\t\t\tincl. goodwill \u00a0
\n\t\t\t\t\tAverage invested capital \u00a0
\n\t\t\t\t\tEquity ratio (%) \u00a0
\n\t\t\t\t\tEquity*100 \u00a0
\n\t\t\t\t\tTotal assets \u00a0
\n\t\t\t\t\tReturn on equity (%) \u00a0
\n\t\t\t\t\tProfit/loss for the year after tax*100 \u00a0
\n\t\t\t\t\tAverage equity \u00a0
Calculations of earnings per share and diluted earnings per share are specified \u00a0
\n\t\t\t\t\tin Note 8. \u00a0
\n\t\t\t\t\tNet working capital (NWC) is defined as the value of inventories, receivables \u00a0
\n\t\t\t\t\tand other operating assets less trade payables and other current operating \u00a0
\n\t\t\t\t\tliabilities. Cash and cash equivalents and deferred tax assets are not included \u00a0
\n\t\t\t\t\tin the net working capital. \u00a0
\n\t\t\t\t\tNet interest-bearing debt is defined as interest-bearing liabilities less interest- \u00a0
\n\t\t\t\t\tbearing assets, such as cash and cash equivalents. \u00a0
Invested capital is defined as net working capital plus the carrying amount of \u00a0
\n\t\t\t\t\tnon-current property, plant and equipment and intangible assets, less other \u00a0
\n\t\t\t\t\tprovisions and non-current operating liabilities. \u00a0
\n\t\t\t\t\tEBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) is \u00a0
\n\t\t\t\t\tdefined as EBIT plus depreciation, amortisation and goodwill impairment of \u00a0
\n\t\t\t\t\tthe year. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1694": {
"value": "1. \u00a0
\n\t\t\t\t\tACCOUNTING POLICIES \u00a0
\n\t\t\t\t\tThe consolidated and the parent company financial statements of CeMat A/S \u00a0
\n\t\t\t\t\tfor 2022 have been prepared in accordance with International Financial \u00a0
\n\t\t\t\t\tReporting Standards as adopted by the EU and additional Danish disclosure \u00a0
\n\t\t\t\t\trequirements for annual reports of reporting class D entities (listed) as set out \u00a0
\n\t\t\t\t\tin the Danish Executive Order on Adoption of IFRSs issued in pursuance of the \u00a0
\n\t\t\t\t\tDanish Financial Statements Act and the rules and regulations of Nasdaq \u00a0
\n\t\t\t\t\tCopenhagen. \u00a0
\n\t\t\t\t\tThe consolidated financial statements and the parent company financial \u00a0
\n\t\t\t\t\tstatements are presented in Danish kroner (DKK), which is the Group\u2019s \u00a0
\n\t\t\t\t\tpresentation currency and the functional currency of the parent company. \u00a0
Implementation of new and revised standards and interpretations \u00a0
\n\t\t\t\t\tNew and revised standards and interpretations applying to financial years \u00a0
\n\t\t\t\t\tbeginning on 1 January 2022 have been implemented in the annual report for \u00a0
\n\t\t\t\t\t2022. \u00a0
\n\t\t\t\t\tStandards and interpretations affecting the profit/loss for the year or the \u00a0
\n\t\t\t\t\tfinancial position \u00a0
\n\t\t\t\t\tThe implementation of new and revised standards and interpretations in the \u00a0
\n\t\t\t\t\tannual report for 2022 has not resulted in changes to presentation or \u00a0
\n\t\t\t\t\tdisclosure. \u00a0
\n\t\t\t\t\tStandards and interpretations affecting presentation and disclosure \u00a0
\n\t\t\t\t\tThe implementation of new and revised standards and interpretations in the \u00a0
\n\t\t\t\t\tannual report for 2022 has not resulted in changes to presentation or \u00a0
\n\t\t\t\t\tdisclosure. \u00a0
\n\t\t\t\t\tStandards and interpretations not yet in force \u00a0
\n\t\t\t\t\tIn Management\u2019s opinion, the application of new and revised standards and \u00a0
\n\t\t\t\t\tinterpretations will not have a material impact on the annual reports for the \u00a0
\n\t\t\t\t\tcoming financial years. In other respects, the accounting policies are \u00a0
\n\t\t\t\t\tconsistent with last year\u2019s, as described in the following. \u00a0
\n\t\t\t\t\tConsolidated financial statements \u00a0
\n\t\t\t\t\tThe consolidated financial statements consolidate the financial statements of \u00a0
\n\t\t\t\t\tthe parent company, CeMat A/S, and subsidiaries in which the parent \u00a0
\n\t\t\t\t\tcompany directly or indirectly holds more than 50% of the shares. \u00a0
Basis of consolidation \u00a0
\n\t\t\t\t\tThe consolidated financial statements are prepared on the basis of the \u00a0
\n\t\t\t\t\tfinancial statements of the parent company and those of the subsidiaries, \u00a0
\n\t\t\t\t\twhich are all prepared in accordance with the Group\u2019s accounting policies. \u00a0
\n\t\t\t\t\tOn consolidation, items of the same nature are aggregated and intra-group \u00a0
\n\t\t\t\t\tincome and expenses, intra-group balances and shareholdings are \u00a0
\n\t\t\t\t\teliminated. Unrealised gains and losses on transactions between \u00a0
\n\t\t\t\t\tconsolidated companies are also eliminated. \u00a0
\n\t\t\t\t\tFinancial statement items of subsidiaries are fully consolidated. The non- \u00a0
\n\t\t\t\t\tcontrolling interests\u2019 proportionate share of the profit/loss is included in the \u00a0
\n\t\t\t\t\tconsolidated profit/loss and comprehensive income for the year and as a \u00a0
\n\t\t\t\t\tseparate item under consolidated equity. \u00a0
Non-controlling interests \u00a0
\n\t\t\t\t\tOn initial recognition, non-controlling interests are either recognised at their \u00a0
\n\t\t\t\t\tfair value or at their pro-rata share of the fair value of the acquired company\u2019s \u00a0
\n\t\t\t\t\tidentifiable assets, liabilities and contingent liabilities. The choice of method \u00a0
\n\t\t\t\t\tis made individually for each transaction. The non-controlling interests are \u00a0
\n\t\t\t\t\tsubsequently adjusted for their proportionate share of changes to the equity \u00a0
\n\t\t\t\t\tof the subsidiary. The comprehensive income is allocated to the non- \u00a0
\n\t\t\t\t\tcontrolling interests irrespective of the non-controlling interest consequently \u00a0
\n\t\t\t\t\tbecoming negative. \u00a0
\n\t\t\t\t\tAcquisition or sale of non-controlling interests in a subsidiary not resulting in \u00a0
\n\t\t\t\t\tloss of controlling influence is recognised in the consolidated financial \u00a0
\n\t\t\t\t\tstatements as an equity transaction, and the difference between the \u00a0
\n\t\t\t\t\tremuneration and the carrying amount is allocated to the parent company\u2019s \u00a0
\n\t\t\t\t\tshare of equity. \u00a0
Foreign currency translation \u00a0
\n\t\t\t\t\tOn initial recognition, transactions denominated in currencies other than the \u00a0
\n\t\t\t\t\tindividual company\u2019s functional currency are translated at the exchange rate \u00a0
\n\t\t\t\t\truling at the transaction date. Receivables, payables and other monetary \u00a0
\n\t\t\t\t\titems denominated in foreign currencies that have not been settled at the \u00a0
\n\t\t\t\t\tbalance sheet date are translated at the exchange rates at the balance sheet \u00a0
\n\t\t\t\t\tdate. Exchange differences between the exchange rate at the transaction \u00a0
\n\t\t\t\t\tdate and the exchange rate at the date of payment or the balance sheet date, \u00a0
\n\t\t\t\t\trespectively, are recognised in the income statement under financial items. \u00a0
\n\t\t\t\t\tProperty, plant and equipment and intangible assets, inventories and other \u00a0
\n\t\t\t\t\tnon-monetary assets acquired in foreign currency and measured based on \u00a0
\n\t\t\t\t\thistorical cost are translated at the exchange rates at the transaction date. \u00a0
\n\t\t\t\t\tOn recognition in the consolidated financial statements of entities whose \u00a0
\n\t\t\t\t\tfinancial statements are presented in a functional currency other than Danish \u00a0
\n\t\t\t\t\tkroner (DKK), the income statements are translated at average exchange \u00a0
\n\t\t\t\t\trates for the respective months, unless these deviate materially from the \u00a0
\n\t\t\t\t\tactual exchange rates at the transaction dates. In that case, the actual \u00a0
\n\t\t\t\t\texchange rates are used. Balance sheet items are translated at the exchange \u00a0
\n\t\t\t\t\trates at the balance sheet date. \u00a0
\n\t\t\t\t\tExchange differences arising on the translation of foreign subsidiaries\u2019 \u00a0
\n\t\t\t\t\topening balance sheet items to the exchange rates at the balance sheet date \u00a0
\n\t\t\t\t\tand on the translation of the income statements from average exchange rates \u00a0
\n\t\t\t\t\tto exchange rates at the balance sheet date are recognised in other \u00a0
\n\t\t\t\t\tcomprehensive income. \u00a0
\n\t\t\t\t\tForeign exchange adjustments of receivables from or payables to subsidiaries \u00a0
\n\t\t\t\t\twhich are considered part of the parent company\u2019s overall investment in the \u00a0
\n\t\t\t\t\tsubsidiary in question are recognised in other comprehensive income in the \u00a0
\n\t\t\t\t\tconsolidated financial statements, while they are recognised in the income \u00a0
\n\t\t\t\t\tstatement of the parent company. \u00a0
Tax \u00a0
\n\t\t\t\t\tTax for the year, which consists of current tax and changes in deferred tax for \u00a0
\n\t\t\t\t\tthe year, is recognised in the income statement with respect to the portion \u00a0
\n\t\t\t\t\tattributable to the profit/loss for the year and directly in equity with respect \u00a0
\n\t\t\t\t\tto the portion attributable to entries directly in equity. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognised in the balance sheet as the \u00a0
\n\t\t\t\t\ttax calculated on the taxable income for the year, adjusted for tax paid on \u00a0
\n\t\t\t\t\taccount. \u00a0
\n\t\t\t\t\tThe calculation of the year\u2019s current tax is based on the tax rates and tax rules \u00a0
\n\t\t\t\t\tapplicable at the balance sheet date. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the tax rates and tax rules that, based on \u00a0
\n\t\t\t\t\tlegislation in force or in reality in force at the balance sheet date, are expected \u00a0
\n\t\t\t\t\tto apply in the respective countries when the deferred tax is expected to \u00a0
\n\t\t\t\t\tcrystallise as current tax. Changes in deferred tax as a result of changed tax \u00a0
\n\t\t\t\t\trates or rules are recognised in the income statement, unless the deferred tax \u00a0
\n\t\t\t\t\tcan be attributed to items previously recognised directly in equity. In the \u00a0
\n\t\t\t\t\tlatter case, the change is also recognised directly in equity. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the balance sheet liability method on all \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not recognised on temporary \u00a0
\n\t\t\t\t\tdifferences relating to the initial recognition of goodwill or the initial \u00a0
\n\t\t\t\t\trecognition of a transaction, apart from business combinations, and where \u00a0
\n\t\t\t\t\tthe temporary difference existing at the date of initial recognition affects \u00a0
\n\t\t\t\t\tneither profit/loss for the year nor taxable income. \u00a0
\n\t\t\t\t\tDeferred tax is provided on temporary differences arising on investments in \u00a0
\n\t\t\t\t\tsubsidiaries and associates, unless the parent company is able to control \u00a0
\n\t\t\t\t\twhen the deferred tax is to be realised and it is likely that the deferred tax \u00a0
\n\t\t\t\t\twill not crystallise as current tax within the foreseeable future. \u00a0
\n\t\t\t\t\tDeferred tax is calculated based on the planned use of the individual asset \u00a0
\n\t\t\t\t\tand the settlement of the individual liability, respectively. \u00a0
\n\t\t\t\t\tDeferred tax assets, including the tax base of tax loss carry-forwards, are \u00a0
\n\t\t\t\t\trecognised in the balance sheet at the value at which the asset is expected to \u00a0
be realised, either through a set-off against deferred tax liabilities or as net \u00a0
\n\t\t\t\t\ttax assets to be offset against future positive taxable income. At each balance \u00a0
\n\t\t\t\t\tsheet date, an assessment is made as to whether it is likely that there will be \u00a0
\n\t\t\t\t\tsufficient future taxable income for the deferred tax asset to be utilised. \u00a0
INCOME STATEMENT \u00a0
Revenue \u00a0
\n\t\t\t\t\tRevenue is measured as the fair value of the consideration received or \u00a0
\n\t\t\t\t\treceivable. If interest-free credit has been granted for payment of the \u00a0
\n\t\t\t\t\toutstanding consideration extending beyond the usual credit period, the fair \u00a0
\n\t\t\t\t\tvalue of the payment is calculated by discounting future payments. The \u00a0
\n\t\t\t\t\tdifference between the fair value and the nominal value of the consideration \u00a0
\n\t\t\t\t\tis recognised as financial income in the income statement over the extended \u00a0
\n\t\t\t\t\tcredit period by using the effective interest method. \u00a0
\n\t\t\t\t\tRevenue is stated exclusive of VAT, duties, discounts, etc. levied on behalf of \u00a0
\n\t\t\t\t\ta third party. \u00a0
\n\t\t\t\t\tFor leasing contracts that provide for rent exemptions, the effective rent for \u00a0
\n\t\t\t\t\tthe entire contract period is used. \u00a0
\n\t\t\t\t\tRevenues from the sale of real estate (residential units, commercial space, \u00a0
\n\t\t\t\t\tetc.) are recognised at the time when the real estate purchaser takes over \u00a0
\n\t\t\t\t\tcontrol of the real estate acquired and receives significant risks and rewards \u00a0
\n\t\t\t\t\tof ownership. According to the assessment of the management of the \u00a0
\n\t\t\t\t\tcompany, this takes place at the moment of handing over the real estate to \u00a0
\n\t\t\t\t\tthe buyer on the basis of the acceptance protocol signed by the parties, \u00a0
\n\t\t\t\t\tprovided that the buyer has made 100% payments towards the purchase \u00a0
\n\t\t\t\t\tprice of the real estate. \u00a0
Cost of goods and services sold \u00a0
\n\t\t\t\t\tCost of goods and services sold comprise direct costs incurred in generating \u00a0
\n\t\t\t\t\tthe revenue. \u00a0
Other external expenses \u00a0
\n\t\t\t\t\tOther external expenses include premises maintenance costs, advertising \u00a0
\n\t\t\t\t\tcosts, administrative expenses, bad debts, etc. Other external expenses also \u00a0
\n\t\t\t\t\tcomprise costs of development projects that do not qualify for recognition in \u00a0
\n\t\t\t\t\tthe balance sheet. \u00a0
Staff costs \u00a0
\n\t\t\t\t\tStaff costs comprise wages and salaries and social security costs, pensions, \u00a0
\n\t\t\t\t\tshare-based payment, etc. to the employees of the Group. \u00a0
Financial items \u00a0
\n\t\t\t\t\tFinancial items comprise interest income and expenses, the interest element \u00a0
\n\t\t\t\t\tof finance lease payments, realised and unrealised foreign exchange gains \u00a0
\n\t\t\t\t\tand losses as well as surcharges and allowances under the Danish tax \u00a0
\n\t\t\t\t\tprepayment scheme. \u00a0
BALANCE SHEET \u00a0
Investment property \u00a0
\n\t\t\t\t\tInvestment property comprises properties owned for the purpose of \u00a0
\n\t\t\t\t\treceiving rent or obtaining capital gains. \u00a0
\n\t\t\t\t\tOn initial recognition, investment property is measured at cost, comprising \u00a0
\n\t\t\t\t\tthe purchase price and any costs directly attributable to the acquisition. \u00a0
\n\t\t\t\t\tSubsequently, investment property is measured at fair value, representing \u00a0
\n\t\t\t\t\tthe price at which it is estimated that the property can be sold to an \u00a0
\n\t\t\t\t\tindependent buyer at the balance sheet date. \u00a0
\n\t\t\t\t\tInvestment property is divided into four groups: Internal roads; plots \u00a0
\n\t\t\t\t\tdesigned for external
roads; development areas; and industrial buildings. \u00a0
\n\t\t\t\t\tInternal roads; plots designed for external roads; and development areas (in \u00a0
\n\t\t\t\t\tthe following referred to as \u201cproperties\u201d) are valued using a comparative \u00a0
\n\t\t\t\t\tapproach. This approach assumes the variation in prices between at least \u00a0
\n\t\t\t\t\tthree comparable properties can be explained by the differences in their \u00a0
individual attributes such as location, surroundings, accessibility, \u00a0
\n\t\t\t\t\tdevelopment potential etc. The influence of each of these attributes on value \u00a0
\n\t\t\t\t\tis assigned a percentage weighting, and the characteristics of each \u00a0
\n\t\t\t\t\tcomparable and the subject are then rated, typically from 1-5, very good to \u00a0
\n\t\t\t\t\tvery poor. The price of each comparable is adjusted according to how it differs \u00a0
\n\t\t\t\t\tfrom the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on \u00a0
\n\t\t\t\t\tnormal earnings. Income from each lessee is expected to be generated for as \u00a0
\n\t\t\t\t\tlong as the lease is in force or until the first time it may be terminated if \u00a0
\n\t\t\t\t\tconsidered advantageous. Thereafter, income is expected to continue to be \u00a0
\n\t\t\t\t\tgenerated at market rent. Adjustments are made for lost rental income, \u00a0
\n\t\t\t\t\tfitting-out deposits and un-obtainable running costs. \u00a0
\n\t\t\t\t\tThe required rates of return having been set are an important input in \u00a0
\n\t\t\t\t\testimating the fair values. The required rate of return used ranges from 12.3% \u00a0
\n\t\t\t\t\tto 13.0%. \u00a0
\n\t\t\t\t\tAs regards properties where claims as to title have not yet been \u00a0
\n\t\t\t\t\taccommodated, the value is further reduced by 20% due to the risk that such \u00a0
\n\t\t\t\t\tclaims will be accommodated and due to the expenses associated with this \u00a0
\n\t\t\t\t\ttransitional phase. \u00a0
\n\t\t\t\t\tAdjustments of the fair value of investment property are recognised in profit \u00a0
\n\t\t\t\t\tor loss in the financial year in which the change occurred. \u00a0
Investments in subsidiaries \u00a0
\n\t\t\t\t\tOn initial recognition, investments in subsidiaries are measured at cost plus \u00a0
\n\t\t\t\t\ttransaction costs. Where the recoverable amount of the investments is lower \u00a0
\n\t\t\t\t\tthan cost, the investments are written down to this lower value. \u00a0
Inventory \u00a0
Finished products \u00a0
\n\t\t\t\t\tFinished products are mainly residential units and parking spaces. Finished \u00a0
\n\t\t\t\t\tproducts are valued at the lower of the two values: manufacturing cost and \u00a0
\n\t\t\t\t\tnet realisable value. The net realisable value is the estimated selling price \u00a0
\n\t\t\t\t\tassessed by the Management Board of the company based on market prices. \u00a0
\n\t\t\t\t\tWork in progress \u00a0
\n\t\t\t\t\tWork in progress is valued at the lower of the two values: purchase price / \u00a0
\n\t\t\t\t\tproduction cost / fair value at the moment of transfer from the investment \u00a0
\n\t\t\t\t\tproperty (land plots) and the net realisable value. In the event of any \u00a0
\n\t\t\t\t\tdiscrepancies, a write-down is made. With regard to the company's \u00a0
\n\t\t\t\t\tdevelopment projects, the necessity to make an impairment loss is assessed \u00a0
\n\t\t\t\t\ton the basis of the \"impairment test\" described below, based on an analysis \u00a0
\n\t\t\t\t\tof the production cost and the net realisable value. \u00a0
Inventory impairment test \u00a0
\n\t\t\t\t\tIf a development project is expected to generate a loss, it results in a write- \u00a0
\n\t\t\t\t\tdown of work in progress, which is immediately recognised in the profit and \u00a0
\n\t\t\t\t\tloss account. \u00a0
\n\t\t\t\t\tFor each development project, budgets are prepared that include both past \u00a0
\n\t\t\t\t\tand future cash flows for each implemented project. These budgets are \u00a0
\n\t\t\t\t\tupdated at least semi-annually. For the purposes of impairment testing, \u00a0
\n\t\t\t\t\tproject budgets include all past and projected net revenues less the direct \u00a0
\n\t\t\t\t\tcosts of land acquisition, design, construction and other costs related to \u00a0
\n\t\t\t\t\tproject preparation, demonstration premises and the on-site sales office. \u00a0
\n\t\t\t\t\tThese budgets are also encumbered with associated past and projected \u00a0
\n\t\t\t\t\tborrowing costs and projected customer claims (if applicable). Project \u00a0
\n\t\t\t\t\tbudgets are prepared using the principle of prudent valuation. If the margin \u00a0
\n\t\t\t\t\ton the project, calculated taking into account all revenues and the above- \u00a0
\n\t\t\t\t\tmentioned costs, is positive, then there is no need to create an inventory \u00a0
\n\t\t\t\t\timpairment write-down. A negative margin indicates a potential impairment \u00a0
\n\t\t\t\t\tproblem, which, after careful verification of cash flows for a given project, \u00a0
\n\t\t\t\t\tresults in the recognition of an inventory impairment loss in the amount of \u00a0
\n\t\t\t\t\tthe estimated negative value of this margin. \u00a0
\n\t\t\t\t\tThe revaluation write-off is recognised in the cost of sales in the item \u00a0
\n\t\t\t\t\t\"Adjustment of the value of inventories to the net realisable value\". A possible \u00a0
reversal of such an impairment loss for a given project is possible if the \u00a0
\n\t\t\t\t\texpected value of the margin on this project becomes positive. \u00a0
Transferring land plots from investment property to inventories \u00a0
\n\t\t\t\t\tInvestment property is transferred to inventory when the development \u00a0
\n\t\t\t\t\tprocess has been decided and initiated, a decision on the possible way of \u00a0
\n\t\t\t\t\tdeveloping the plot has been obtained, and expenses related to the project \u00a0
\n\t\t\t\t\thave already taken place. \u00a0
Receivables \u00a0
\n\t\t\t\t\tReceivables comprise non-current deposits in connection with the purchase \u00a0
\n\t\t\t\t\tand sale of goods and receivables from sale of goods and services. Receivables \u00a0
\n\t\t\t\t\tare classified as loans and receivables, which are financial assets with fixed or \u00a0
\n\t\t\t\t\tdeterminable payments that are not quoted in an active market and are not \u00a0
\n\t\t\t\t\tderivative financial instruments. \u00a0
\n\t\t\t\t\tOn initial recognition, receivables are measured at fair value and \u00a0
\n\t\t\t\t\tsubsequently at amortised cost, which usually corresponds to the nominal \u00a0
\n\t\t\t\t\tvalue less write-downs for bad debts. \u00a0
\n\t\t\t\t\tThe Group applies the IFRS 9 simplified approach to measuring expected \u00a0
\n\t\t\t\t\tcredit losses which uses a lifetime expected loss allowance for all trade \u00a0
\n\t\t\t\t\treceivables. To measure the expected credit losses, trade receivables have \u00a0
\n\t\t\t\t\tbeen grouped based on shared credit risk characteristics and the days past \u00a0
\n\t\t\t\t\tdue. The expected loss rates are based on the payment profiles of sales over \u00a0
\n\t\t\t\t\ta period of 36 months before 31 December 2021 or 1 January 2021 \u00a0
\n\t\t\t\t\trespectively and the corresponding historical credit losses experienced within \u00a0
\n\t\t\t\t\tthis period. The historical loss rates are adjusted to reflect current and \u00a0
\n\t\t\t\t\tforward-looking information on macroeconomic factors affecting the ability \u00a0
\n\t\t\t\t\tof the customers to settle the receivables. The group has identified the GDP \u00a0
\n\t\t\t\t\tand the unemployment rate of the countries in which it sells its goods and \u00a0
\n\t\t\t\t\tservices to be the most relevant factors, and accordingly adjusts the historical \u00a0
\n\t\t\t\t\tloss rates based on expected changes in these factors. \u00a0
Prepayments \u00a0
\n\t\t\t\t\tPrepayments comprise incurred costs relating to subsequent financial years. \u00a0
\n\t\t\t\t\tPrepayments are measured at cost. \u00a0
Provisions \u00a0
\n\t\t\t\t\tProvisions are recognised when the Group has a legal or constructive \u00a0
\n\t\t\t\t\tobligation as a consequence of past events during the financial year or prior \u00a0
\n\t\t\t\t\tyears, and when it is likely that settlement of the obligation will require an \u00a0
\n\t\t\t\t\toutflow of the Group\u2019s financial resources. Warranty commitments cover \u00a0
\n\t\t\t\t\tcommitments to repair faulty or defective products sold within the warranty \u00a0
\n\t\t\t\t\tperiod. \u00a0
\n\t\t\t\t\tProvisions are measured as the best estimate of the costs required to settle \u00a0
\n\t\t\t\t\tthe liabilities at the balance sheet date. Provisions with an expected term of \u00a0
\n\t\t\t\t\tmore than a year after the balance sheet date are measured at present value. \u00a0
Lease liabilities \u00a0
\n\t\t\t\t\tIFRS 16 eliminates the classification of leases as either operating leases or \u00a0
\n\t\t\t\t\tfinance leases. Lease liabilities for all leases with a term of more than 12 \u00a0
\n\t\t\t\t\tmonths are recognised, unless the underlying asset is of low value. \u00a0
\n\t\t\t\t\tAt the commencement date, a lease liability is measured at the present value \u00a0
\n\t\t\t\t\tof future lease payments. The lease payments are discounted using the \u00a0
\n\t\t\t\t\tinterest rate implicit in the lease, if that rate can be readily determined. If that \u00a0
\n\t\t\t\t\trate cannot be readily determined, the incremental borrowing rate is used. \u00a0
\n\t\t\t\t\tAfter the commencement date, the lease liability is measured by increasing \u00a0
\n\t\t\t\t\tthe carrying amount to reflect interest on the lease liability, reducing the \u00a0
\n\t\t\t\t\tcarrying amount to reflect the lease payments made and remeasuring the \u00a0
\n\t\t\t\t\tcarrying amount to reflect any reassessment or lease modification or to \u00a0
\n\t\t\t\t\treflect revised in-substance fixed lease payments. \u00a0
Other financial liabilities \u00a0
\n\t\t\t\t\tOther financial liabilities comprise bank debt, trade payables and other \u00a0
\n\t\t\t\t\tpayables to public authorities. On initial recognition, other financial liabilities \u00a0
\n\t\t\t\t\tare measured at fair value less transaction costs. In subsequent periods, \u00a0
\n\t\t\t\t\tfinancial liabilities are measured at amortised cost, applying the effective \u00a0
\n\t\t\t\t\tinterest method, to the effect that the difference between the proceeds and \u00a0
\n\t\t\t\t\tthe nominal value is recognised in the income statement as a financial \u00a0
\n\t\t\t\t\texpense over the term of the loan. \u00a0
CASH FLOW STATEMENT \u00a0
\n\t\t\t\t\tThe consolidated cash flow statement is presented according to the indirect \u00a0
\n\t\t\t\t\tmethod and shows cash flows from operating, investing and financing \u00a0
\n\t\t\t\t\tactivities as well as cash and cash equivalents at the beginning and the end of \u00a0
\n\t\t\t\t\tthe year. \u00a0
\n\t\t\t\t\tThe cash effect of acquisitions and divestments of entities is shown separately \u00a0
\n\t\t\t\t\tunder cash flows from investing activities. Cash flows from the acquisition of \u00a0
\n\t\t\t\t\tentities are recognised in the cash flow statement from the date of \u00a0
\n\t\t\t\t\tacquisition. Cash flows from the disposal of entities are recognised up to the \u00a0
\n\t\t\t\t\tdate of disposal. \u00a0
\n\t\t\t\t\tCash flows from operating activities are presented according to the indirect \u00a0
\n\t\t\t\t\tmethod and stated as operating profit, adjusted for non-cash operating items \u00a0
\n\t\t\t\t\tand changes in working capital and financial income and expenses, less the \u00a0
\n\t\t\t\t\tincome tax paid during the financial year attributable to operating activities. \u00a0
\n\t\t\t\t\tCash flows from investing activities comprise payments related to the \u00a0
\n\t\t\t\t\tpurchase and sale of financial assets, including non-current prepayments for \u00a0
\n\t\t\t\t\tgoods, subsidiaries as well as the purchase, development, improvement, sale, \u00a0
\n\t\t\t\t\tetc. of intangible assets and property, plant and equipment. \u00a0
\n\t\t\t\t\tCash flows from financing activities comprise changes in the size or the \u00a0
\n\t\t\t\t\tcomposition of the parent company\u2019s share capital and related costs as well \u00a0
\n\t\t\t\t\tas the raising and repayment of loans, cash deposits, instalments on interest- \u00a0
\n\t\t\t\t\tbearing debt, acquisition of treasury shares and payment of dividends. \u00a0
\n\t\t\t\t\tFurthermore, cash flows regarding assets held under finance leases in the \u00a0
\n\t\t\t\t\tform of lease payments made are recognised. \u00a0
\n\t\t\t\t\tCash and cash equivalents comprise cash deposits. \u00a0
Segment information \u00a0
\n\t\t\t\t\tThe Group is assessed as having two segments: \u00a0
\n\t\t\t\t\t(A) Property management division comprising letting of premises \u00a0
\n\t\t\t\t\tand land and the provision of utilities to tenants, including \u00a0
\n\t\t\t\t\tpower, water, natural gas, facility services, etc. \u00a0
\n\t\t\t\t\t(B) Property development \u2013 including the preparation and \u00a0
\n\t\t\t\t\timplementation of development projects, primarily in the field \u00a0
\n\t\t\t\t\tof housing and commercial space. \u00a0
Financial ratios \u00a0
\n\t\t\t\t\tFormula \u00a0
\n\t\t\t\t\tEBITDA margin (%) \u00a0
\n\t\t\t\t\tEBITDA*100 \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tEBIT margin (%) (Profit margin) \u00a0
\n\t\t\t\t\tEBIT*100 \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tReturn on invested capital (%) \u00a0
\n\t\t\t\t\tEBIT*100 \u00a0
\n\t\t\t\t\tincl. goodwill \u00a0
\n\t\t\t\t\tAverage invested capital \u00a0
\n\t\t\t\t\tEquity ratio (%) \u00a0
\n\t\t\t\t\tEquity*100 \u00a0
\n\t\t\t\t\tTotal assets \u00a0
\n\t\t\t\t\tReturn on equity (%) \u00a0
\n\t\t\t\t\tProfit/loss for the year after tax*100 \u00a0
\n\t\t\t\t\tAverage equity \u00a0
Calculations of earnings per share and diluted earnings per share are specified \u00a0
\n\t\t\t\t\tin Note 8. \u00a0
\n\t\t\t\t\tNet working capital (NWC) is defined as the value of inventories, receivables \u00a0
\n\t\t\t\t\tand other operating assets less trade payables and other current operating \u00a0
\n\t\t\t\t\tliabilities. Cash and cash equivalents and deferred tax assets are not included \u00a0
\n\t\t\t\t\tin the net working capital. \u00a0
\n\t\t\t\t\tNet interest-bearing debt is defined as interest-bearing liabilities less interest- \u00a0
\n\t\t\t\t\tbearing assets, such as cash and cash equivalents. \u00a0
Invested capital is defined as net working capital plus the carrying amount of \u00a0
\n\t\t\t\t\tnon-current property, plant and equipment and intangible assets, less other \u00a0
\n\t\t\t\t\tprovisions and non-current operating liabilities. \u00a0
\n\t\t\t\t\tEBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) is \u00a0
\n\t\t\t\t\tdefined as EBIT plus depreciation, amortisation and goodwill impairment of \u00a0
\n\t\t\t\t\tthe year. \u00a0
New standards, interpretations and amendments effective from \u00a0
\n\t\t\t\t\t1 January 2022 \u00a0
\n\t\t\t\t\tThe following new standards, amendments and interpretations are effective \u00a0
\n\t\t\t\t\tfor the first time for periods beginning on or after 1 January 2022: \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tReference to the Conceptual Framework (Amendments to IFRS 3), \u00a0
\n\t\t\t\t\teffective for periods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tAnnual Improvements to IFRS Standards 2018\u20132020, effective for \u00a0
\n\t\t\t\t\tperiods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIAS 37 Provisions, Contingent Liabilities and Contingent Assets \u00a0
\n\t\t\t\t\t(Amendment \u2013 Onerous Contracts \u2013 Cost of Fulfilling a Contract), \u00a0
\n\t\t\t\t\teffective for periods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tProperty, Plant and Equipment \u2014 Proceeds before Intended Use, \u00a0
\n\t\t\t\t\teffective for periods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\tThe new standards, interpretations and amendments do not have significant \u00a0
\n\t\t\t\t\timpact on the Group\u2019s financial statements. \u00a0
New standards, interpretations and amendments not yet effective \u00a0
\n\t\t\t\t\tThere are a number of standards and interpretations which have been issued \u00a0
\n\t\t\t\t\tby the International Accounting Standards Board that are effective in future \u00a0
\n\t\t\t\t\taccounting periods that the group has decided not to adopt early. The most \u00a0
\n\t\t\t\t\tsignificant of these are: \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIAS 1 \"Presentation of Financial Statements\", the amendments \u00a0
\n\t\t\t\t\tare effective for annual periods beginning on or after 1 January \u00a0
\n\t\t\t\t\t2023 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIAS 8 \"Accounting Policies, Changes in Accounting Estimates and \u00a0
\n\t\t\t\t\tErrors\", the amendments are effective for annual periods begin- \u00a0
\n\t\t\t\t\tning on or after 1 January 2023 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIFRS 16 \u201cLeases\u201d, the amendments are effective for annual re- \u00a0
\n\t\t\t\t\tporting periods beginning on or after 1 January 2024 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIFRS 17 \u201cInsurance Contracts\u201d, the amendments are effective for \u00a0
\n\t\t\t\t\tannual reporting periods beginning on or after 1 January 2023 \u00a0
2. \u00a0
\n\t\t\t\t\tSIGNIFICANT ACCOUNTING ESTIMATES, \u00a0
\n\t\t\t\t\tASSUMPTIONS AND UNCERTAINTIES \u00a0
In applying the Group\u2019s accounting policies, as outlined in Note 1, \u00a0
\n\t\t\t\t\tManagement is required to make judgements, estimates and assumptions \u00a0
\n\t\t\t\t\tabout the carrying amounts of assets and liabilities which cannot be \u00a0
\n\t\t\t\t\timmediately inferred from other sources. \u00a0
The estimates and assumptions applied are based on historical experience \u00a0
\n\t\t\t\t\tand other factors that Management considers reasonable under the \u00a0
\n\t\t\t\t\tcircumstances, but which are inherently uncertain and unpredictable. Such \u00a0
\n\t\t\t\t\tassumptions may be incomplete or inaccurate, and unexpected events or \u00a0
\n\t\t\t\t\tcircumstances may occur. In addition, the Group is subject to risks and \u00a0
\n\t\t\t\t\tuncertainties that may cause actual outcomes to deviate from such \u00a0
\n\t\t\t\t\testimates. CeMat\u2019s risks are described in \u201cRisks and risk management\u201d and in \u00a0
\n\t\t\t\t\tNote 24 \u201cFinancial risks and financial instruments\u201d. \u00a0
\n\t\t\t\t\tEstimates and underlying assumptions are reviewed on an ongoing basis. \u00a0
\n\t\t\t\t\tChanges to accounting estimates are recognised in the reference period in \u00a0
\n\t\t\t\t\twhich the change occurs and in future reference periods if the change affects \u00a0
\n\t\t\t\t\tthe period in which it is made as well as subsequent reference periods. \u00a0
Measurement of investment property \u00a0
\n\t\t\t\t\tThe Group\u2019s investment property is measured at its estimated fair value in \u00a0
\n\t\t\t\t\taccordance with IAS 40 and IFRS 13, and any value adjustments are \u00a0
\n\t\t\t\t\trecognised in the income statement. Management has reviewed the updated \u00a0
\n\t\t\t\t\tvaluation report received in December 2022 and its underlying assumptions. \u00a0
\n\t\t\t\t\tManagement\u2019s valuation estimate is in line with that indicated in the report, \u00a0
\n\t\t\t\t\tand the fair value consequently reflects the value stated in the report. \u00a0
\n\t\t\t\t\tAs the property market is not in all respects as efficient and liquid as, for \u00a0
\n\t\t\t\t\texample, the equity market, there can be no assurance that a buyer willing to \u00a0
\n\t\t\t\t\tpay the fair value at which the property is stated in the financial statements \u00a0
\n\t\t\t\t\tcan be found at any given time. In other words, properties are subject to a \u00a0
\n\t\t\t\t\tliquidity risk in a sales situation. \u00a0
Investments in subsidiaries \u00a0
\n\t\t\t\t\tInvestments in subsidiaries are recognised in the parent company's financial \u00a0
\n\t\t\t\t\tstatements at cost less any write-downs to the recoverable amount. \u00a0
Forward-looking statements \u00a0
\n\t\t\t\t\tAll forward-looking statements in this annual report reflect Management\u2019s \u00a0
\n\t\t\t\t\tcurrent expectations for certain future events and financial results. Forward- \u00a0
\n\t\t\t\t\tlooking statements are inherently subject to uncertainty, and actual results \u00a0
\n\t\t\t\t\tmay therefore differ materially from expectations. \u00a0
\n\t\t\t\t\tFactors that may cause actual results to deviate materially from expectations \u00a0
\n\t\t\t\t\tinclude, but are not limited to, general economic developments, \u00a0
\n\t\t\t\t\tdevelopments in the financial markets and changes in the Polish real estate \u00a0
\n\t\t\t\t\trental market. Changes in the political climate in Poland may also affect \u00a0
\n\t\t\t\t\tforecasts and results. \u00a0
Tax asset utilisation \u00a0
\n\t\t\t\t\tDeferred tax assets are recognised for all unutilised tax losses and differences \u00a0
\n\t\t\t\t\tto the extent it is considered likely that they can be utilised through taxable \u00a0
\n\t\t\t\t\tincome within a foreseeable number of years. \u00a0
The annual report is published only in English. \u00a0
3. \u00a0
\n\t\t\t\t\tSEGMENT INFORMATION \u00a0
\n\t\t\t\t\tBased on IFRS 8 Operating Segments, the CeMat Group is assessed as having two segments: \u00a0
\n\t\t\t\t\t(A) Property management division comprising letting of premises and land and the provision of utilities to tenants, including power, water, natural \u00a0
\n\t\t\t\t\tgas, facility services, etc. \u00a0
\n\t\t\t\t\t(B) Property development \u2013 including the preparation and implementation of development projects, primarily in the field of housing and commercial \u00a0
\n\t\t\t\t\tspace. \u00a0
\n\t\t\t\t\tThe assessment of the results of operations in individual segments is made mainly on the basis of sales revenues and gross profit obtained in these segments. \u00a0
2022 \u00a0
\n\t\t\t\t\tProperty \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tManagement Development*) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tSales revenue \u00a0
\n\t\t\t\t\t26,574 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26,574 \u00a0
\n\t\t\t\t\tGROSS PROFIT \u00a0
\n\t\t\t\t\t12,700 \u00a0
\n\t\t\t\t\t(402) \u00a0
\n\t\t\t\t\t12,298 \u00a0
\n\t\t\t\t\tOverheads \u00a0
\n\t\t\t\t\t(8,939) \u00a0
\n\t\t\t\t\tOther income / costs \u00a0
\n\t\t\t\t\t129 \u00a0
\n\t\t\t\t\tEBITDA \u00a0
\n\t\t\t\t\t3,488 \u00a0
\n\t\t\t\t\tDepreciation \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\tEBIT \u00a0
\n\t\t\t\t\t3,460 \u00a0
\n\t\t\t\t\tRevaluation investment property \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\tNet result on financial activities \u00a0
\n\t\t\t\t\t(973) \u00a0
\n\t\t\t\t\tPROFIT (LOSS) BEFORE TAX \u00a0
\n\t\t\t\t\t27,812 \u00a0
\n\t\t\t\t\tTax on profit/(loss) for the year including deferred tax \u00a0
\n\t\t\t\t\t(5,730) \u00a0
\n\t\t\t\t\tPROFIT (LOSS) FOR THE YEAR \u00a0
\n\t\t\t\t\t22,082 \u00a0
\n\t\t\t\t\t*) In 2022, there were no revenues in the Development segment. The Development segment has been separated in terms of functionality. According to the \u00a0
\n\t\t\t\t\taccounting policy, revenues and profits from the sale of real estate (residential units, commercial space, etc.) will be recognized when the real estate \u00a0
\n\t\t\t\t\tpurchaser takes over control over the real estate acquired and receives significant risks and rewards of ownership. \u00a0
2021 \u00a0
\n\t\t\t\t\tProperty \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tManagement Development*) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tSales revenue \u00a0
\n\t\t\t\t\t21,307 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t21,307 \u00a0
\n\t\t\t\t\tGROSS PROFIT \u00a0
\n\t\t\t\t\t10,110 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10,110 \u00a0
\n\t\t\t\t\tOverheads \u00a0
\n\t\t\t\t\t(7,735) \u00a0
\n\t\t\t\t\tOther income / costs \u00a0
\n\t\t\t\t\t994 \u00a0
\n\t\t\t\t\tEBITDA \u00a0
\n\t\t\t\t\t3,369 \u00a0
\n\t\t\t\t\tDepreciation \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\tEBIT \u00a0
\n\t\t\t\t\t3,326 \u00a0
\n\t\t\t\t\tRevaluation investment property \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\tNet result on financial activities \u00a0
\n\t\t\t\t\t(1,038) \u00a0
\n\t\t\t\t\tPROFIT (LOSS) BEFORE TAX \u00a0
\n\t\t\t\t\t33,159 \u00a0
\n\t\t\t\t\tTax on profit/(loss) for the year including deferred tax \u00a0
\n\t\t\t\t\t(6,898) \u00a0
\n\t\t\t\t\tPROFIT (LOSS) FOR THE YEAR \u00a0
\n\t\t\t\t\t26,261 \u00a0
\n\t\t\t\t\t*) In 2021, there were no revenues or costs in the Development segment. The Development segment has been separated in terms of functionality. According \u00a0
\n\t\t\t\t\tto the accounting policy, revenues and profits from the sale of real estate (residential units, commercial space, etc.) will be recognized when the real estate \u00a0
\n\t\t\t\t\tpurchaser takes over control over the real estate acquired and receives significant risks and rewards of ownership. \u00a0
Other segment information: \u00a0
\n\t\t\t\t\tProperty management revenue can be broken down into the letting of premises and land and the provision of utilities to tenants, including power, water, \u00a0
\n\t\t\t\t\tnatural gas, facility services, etc: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tLetting \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tUtilities \u00a0
\n\t\t\t\t\t7,935 \u00a0
\n\t\t\t\t\t5,571 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t26,574 \u00a0
\n\t\t\t\t\t21,307 \u00a0
\n\t\t\t\t\tRevenue is generated by the Polish subsidiaries CeMat Real Estate, CeMat '70 S.A. and W133, and the Group derives all of its revenue from Poland. \u00a0
4. \u00a0
\n\t\t\t\t\tSTAFF COSTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\tDirectors' fees \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\tWages and salaries \u00a0
\n\t\t\t\t\t3,134 \u00a0
\n\t\t\t\t\t3,366 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tBonuses for Management Board \u00a0
\n\t\t\t\t\t324 \u00a0
\n\t\t\t\t\t299 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tPension contributions, defined contribution plans \u00a0
\n\t\t\t\t\t550 \u00a0
\n\t\t\t\t\t642 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther social security costs \u00a0
\n\t\t\t\t\t169 \u00a0
\n\t\t\t\t\t133 \u00a0
\n\t\t\t\t\t1,086 \u00a0
\n\t\t\t\t\t876 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t5,227 \u00a0
\n\t\t\t\t\t5,281 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t1
\n\t\t\t\t\tAverage number of full-time employees \u00a0
\n\t\t\t\t\t22 \u00a0
\n\t\t\t\t\t21 \u00a0
\n\t\t\t\t\tThe calculation of the average number of full-time employees (FTE) is based on the number of employees at the end of each month, not including members of the Board \u00a0
\n\t\t\t\t\tof Directors. For the purpose of the above table, the Management Board is understood as the CEO of CeMat A/S and theCEO and CFO of the subsidiary companies CeMat \u00a0
\n\t\t\t\t\t'70, CeMat Real Estate, W131, W133 and Arkuszowa 56. Additional remuneration of the CEO for consultancy services of DKK 859 thousand (2021: DKK 698 thousand) \u00a0
\n\t\t\t\t\trelated to development project or preparation of land plots for divestment or development is recognised as inventories (work in progress) or investment property and is \u00a0
\n\t\t\t\t\tnot included in the table above. \u00a0
\n\t\t\t\t\tCeMat has signed an annex which intends to a new performance-based remuneration system for CEO, contribute to business strategy, long-term interests and \u00a0
\n\t\t\t\t\tsustainability through the application of the long-term performance and development targets of the company. An additional bonus will be paid if the companies obtain a \u00a0
\n\t\t\t\t\tprofit from the sale of the properties in an amount exceeding the limit of PLN 103,500,000. This limit is based on the sale of undeveloped real estate and profits from the \u00a0
\n\t\t\t\t\tsale of developed real estate. \u00a0
Group and parent company \u00a0
\n\t\t\t\t\tRemuneration of Board of Directors and Management Board \u00a0
\n\t\t\t\t\tBoard of Directors \u00a0
\n\t\t\t\t\tManagement Board \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDirectors' fees \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tSalaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,468 \u00a0
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\tBonuses \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t324 \u00a0
\n\t\t\t\t\t299 \u00a0
\n\t\t\t\t\tPension contributions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t132 \u00a0
\n\t\t\t\t\t121 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\t1,924 \u00a0
\n\t\t\t\t\t1,640 \u00a0
\n\t\t\t\t\tThe fee to the Chairman of the Board of Directors for the current term amounts to DKK 500 thousand (2021: DKK 400 thousand), to the Deputy Chairman DKK \u00a0
\n\t\t\t\t\t350 thousand (2021: DKK 280 thousand) and to an ordinary member DKK 200 thousand (2021: DKK 160 thousand). For the purpose of the above table, the \u00a0
\n\t\t\t\t\tManagement Board is understood as the CEO of CeMat A/S and the CEO and CFO of the subsidiary companies CeMat '70, CeMat Real Estate, W131, W133 and \u00a0
\n\t\t\t\t\tArkuszowa 56. Additional remuneration of the CEO for consultancy services of DKK 859 thousand related to development project or preparation of land plots for \u00a0
\n\t\t\t\t\tdivestment or development recognised as inventories (work in progress) or investment property is included in the line \u201cSalaries\u201d in the table above. \u00a0
5. \u00a0
\n\t\t\t\t\tFINANCIAL INCOME \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t53 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tInterest from group entities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInterest on bank deposits etc. \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\t53 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tInterest income \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\t468 \u00a0
\n\t\t\t\t\t216 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t521 \u00a0
\n\t\t\t\t\t271 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
6. \u00a0
\n\t\t\t\t\tFINANCIAL EXPENSES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,146 \u00a0
\n\t\t\t\t\t1,083 \u00a0
\n\t\t\t\t\tInterest to group entities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInterest relating to lease liabilities \u00a0
\n\t\t\t\t\t978 \u00a0
\n\t\t\t\t\t994 \u00a0
\n\t\t\t\t\t56 \u00a0
\n\t\t\t\t\t17 \u00a0
\n\t\t\t\t\tInterest on bank loans \u00a0
\n\t\t\t\t\t56 \u00a0
\n\t\t\t\t\t17 \u00a0
\n\t\t\t\t\t18 \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\tOther interest \u00a0
\n\t\t\t\t\t126 \u00a0
\n\t\t\t\t\t33 \u00a0
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\t1,125 \u00a0
\n\t\t\t\t\tInterest expenses \u00a0
\n\t\t\t\t\t1,160 \u00a0
\n\t\t\t\t\t1,044 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\t1,125 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,157 \u00a0
\n\t\t\t\t\t1,045 \u00a0
7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tThe current tax for the financial year has been calculated at a tax rate of 22.0%. \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCurrent tax \u00a0
\n\t\t\t\t\t(901) \u00a0
\n\t\t\t\t\t(516) \u00a0
\n\t\t\t\t\tChange in deferred tax including change in value \u00a0
\n\t\t\t\t\t(4,823) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t(6) \u00a0
\n\t\t\t\t\t(29) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(5,730) \u00a0
\n\t\t\t\t\t(6,898) \u00a0
\n\t\t\t\t\tTax on the profit/loss for the year may be specified as follows: \u00a0
\n\t\t\t\t\tProfit/(loss) before tax \u00a0
\n\t\t\t\t\t27,858 \u00a0
\n\t\t\t\t\t33,159 \u00a0
\n\t\t\t\t\tTax at a rate of 22.0% \u00a0
\n\t\t\t\t\t(6,118) \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\t(7,295) \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\tEffect of different tax rate in foreign entities \u00a0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t3.4% \u00a0
\n\t\t\t\t\t1,095 \u00a0
\n\t\t\t\t\t3.3% \u00a0
\n\t\t\t\t\tTax base of non-deductible expenses and non-taxable income \u00a0
\n\t\t\t\t\t200 \u00a0
\n\t\t\t\t\t0.7% \u00a0
\n\t\t\t\t\t82 \u00a0
\n\t\t\t\t\t0.2% \u00a0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t(6) \u00a0
\n\t\t\t\t\t0.0% \u00a0
\n\t\t\t\t\t(29) \u00a0
\n\t\t\t\t\t(0.1%) \u00a0
\n\t\t\t\t\tValue adjustment of deferred tax \u00a0
\n\t\t\t\t\t(756) \u00a0
\n\t\t\t\t\t(2,7%) \u00a0
\n\t\t\t\t\t(751) \u00a0
\n\t\t\t\t\t(2.3%) \u00a0
\n\t\t\t\t\tEffective tax/tax rate for the year \u00a0
\n\t\t\t\t\t(5,730) \u00a0
\n\t\t\t\t\t(20.6%) \u00a0
\n\t\t\t\t\t(6,898) \u00a0
\n\t\t\t\t\t(20.8%) \u00a0
7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX (CONTINUED) \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tBreakdown of deferred tax for the Group stated in the balance sheet: \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDeferred tax liabilities, see balance sheet \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tDeferred tax, net \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tRecognise \u00a0
\n\t\t\t\t\tLoss of \u00a0
\n\t\t\t\t\tForeign \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tin Income \u00a0
\n\t\t\t\t\tusability \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tStatement \u00a0
\n\t\t\t\t\tof tax losses \u00a0
\n\t\t\t\t\tadjustment Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t31.12.2022 \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t(24,715) \u00a0
\n\t\t\t\t\t(4,469) \u00a0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(29,287) \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t(1,186) \u00a0
\n\t\t\t\t\t(321) \u00a0
\n\t\t\t\t\t(1,507) \u00a0
\n\t\t\t\t\tOther payables etc \u00a0
\n\t\t\t\t\t265 \u00a0
\n\t\t\t\t\t(33) \u00a0
\n\t\t\t\t\t232 \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\t(4,823) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(30,562) \u00a0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\t750 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t24,888 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\t750 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t24,888 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(24,140) \u00a0
\n\t\t\t\t\t(756) \u00a0
\n\t\t\t\t\t568 \u00a0
\n\t\t\t\t\t2
\n\t\t\t\t\t(24,325) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\t(4,829) \u00a0
\n\t\t\t\t\t568 \u00a0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\tThe Group does not expect to be able to utilise part of the tax losses within 3-5 years. Accordingly, no tax asset has been recognised in the consolidated balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Recognise \u00a0
\n\t\t\t\t\tLoss of \u00a0
\n\t\t\t\t\tForeign \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tin Income \u00a0
\n\t\t\t\t\tusability \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tStatement \u00a0
\n\t\t\t\t\tof tax losses \u00a0
\n\t\t\t\t\tadjustment Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t31.12.2021 \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t(18,697) \u00a0
\n\t\t\t\t\t(6,210) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(24,715) \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t(955) \u00a0
\n\t\t\t\t\t(231) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,186) \u00a0
\n\t\t\t\t\tOther payables etc \u00a0
\n\t\t\t\t\t177 \u00a0
\n\t\t\t\t\t88 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t265 \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t(19,475) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t29,704 \u00a0
\n\t\t\t\t\t751 \u00a0
\n\t\t\t\t\t(6,254) \u00a0
\n\t\t\t\t\t(61) \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t29,704 \u00a0
\n\t\t\t\t\t751 \u00a0
\n\t\t\t\t\t(6,254) \u00a0
\n\t\t\t\t\t(61) \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(29,704) \u00a0
\n\t\t\t\t\t(751) \u00a0
\n\t\t\t\t\t6,254 \u00a0
\n\t\t\t\t\t61 \u00a0
\n\t\t\t\t\t(24,140) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(19,475) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tThe Group does not expect to be able to utilise the tax losses within 3-5 years. Accordingly, no tax asset has been recognised in the consolidated balance sheet. \u00a0
7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX (CONTINUED) \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tThe current tax for the financial year has been calculated at a tax rate of 22.0%. \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCurrent tax \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in deferred tax \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tAdjustment of deferred tax relating to prior years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax on the profit/loss for the year may be specified as follows: \u00a0
\n\t\t\t\t\tProfit/(loss) before tax \u00a0
\n\t\t\t\t\t(3,383) \u00a0
\n\t\t\t\t\t(3,161) \u00a0
\n\t\t\t\t\tTax at a rate of 22.0% \u00a0
\n\t\t\t\t\t744 \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\t695 \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t(5) \u00a0
\n\t\t\t\t\t0.1% \u00a0
\n\t\t\t\t\t(29) \u00a0
\n\t\t\t\t\t0.9% \u00a0
\n\t\t\t\t\tValue adjustment of deferred tax \u00a0
\n\t\t\t\t\t(739) \u00a0
\n\t\t\t\t\t21.8% \u00a0
\n\t\t\t\t\t(666) \u00a0
\n\t\t\t\t\t21.1% \u00a0
\n\t\t\t\t\tEffective tax/tax rate for the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0.0% \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0.0% \u00a0
Recognised \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tin income \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tstatement Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2022 \u00a0
\n\t\t\t\t\t2022 31.12.2022 \u00a0
\n\t\t\t\t\tIntangible assets \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\tInventories \u00a0
\n\t\t\t\t\tOther payables etc. \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\t739 \u00a0
\n\t\t\t\t\t24,326 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\t739 \u00a0
\n\t\t\t\t\t24,326 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(23,587) \u00a0
\n\t\t\t\t\t(739) \u00a0
\n\t\t\t\t\t(24,326) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax losses are not expected to be utilised in full within a period of 3-5 years. Accordingly, no tax asset has been recognised in the parent company\u2019s balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Recognised \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tin income \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tstatement Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t31.12.2021 \u00a0
\n\t\t\t\t\tIntangible assets \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInventories \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther payables etc. \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t22,921 \u00a0
\n\t\t\t\t\t666 \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t22,921 \u00a0
\n\t\t\t\t\t666 \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(22,921) \u00a0
\n\t\t\t\t\t(666) \u00a0
\n\t\t\t\t\t(23,587) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax losses are not expected to be utilised in full within a period of 3-5 years. Accordingly, no tax asset has been recognised in the parent company\u2019s balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
8. \u00a0
\n\t\t\t\t\tEARNINGS PER SHARE \u00a0
\n\t\t\t\t\tThe calculation of earnings per share is based on the following: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(0.01) \u00a0
\n\t\t\t\t\t(0.01) \u00a0
\n\t\t\t\t\tEarnings per share (DKK) \u00a0
\n\t\t\t\t\t0.08 \u00a0
\n\t\t\t\t\t0.10 \u00a0
\n\t\t\t\t\t(0.01) \u00a0
\n\t\t\t\t\t(0.01) \u00a0
\n\t\t\t\t\tDiluted earnings per share (DKK) \u00a0
\n\t\t\t\t\t0.08 \u00a0
\n\t\t\t\t\t0.10 \u00a0
\n\t\t\t\t\t(3,383) \u00a0
\n\t\t\t\t\t(3,162) \u00a0
\n\t\t\t\t\tEarnings used in the calculation of earnings per share (DKK\u2019000): \u00a0
\n\t\t\t\t\t20,326 \u00a0
\n\t\t\t\t\t24,199 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tAverage number of shares used to calculate earnings per share (\u2018000) \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tAverage number of shares used to calculate \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tdiluted earnings per share (\u2018000) \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tThe average number of outstanding shares is calculated as the number of days prior to a capital increase multiplied by the number of shares in circulation. If \u00a0
\n\t\t\t\t\tseveral capital increases are made, the number of days between the capital increases multiplied by the number of shares in circulation during the relevant \u00a0
\n\t\t\t\t\tperiod is added together. The sum is divided by 365. \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2022 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(2,252) \u00a0
\n\t\t\t\t\t(299) \u00a0
\n\t\t\t\t\t(2,551) \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t(302) \u00a0
\n\t\t\t\t\t(2,554) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(4,655)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\tShortening the leasing period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t25,277 \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2022 \u00a0
\n\t\t\t\t\t144,029 \u00a0
\n\t\t\t\t\t13,825 \u00a0
\n\t\t\t\t\t157,854 \u00a0
\n\t\t\t\t\t117 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
2021 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2021 \u00a0
\n\t\t\t\t\t112,833 \u00a0
\n\t\t\t\t\t13,808 \u00a0
\n\t\t\t\t\t126,641 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t13,863 \u00a0
\n\t\t\t\t\t126,696 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(1,480) \u00a0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t153 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(22,684)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t30,723 \u00a0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2021 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
The Polish properties have an assessed value of DKK 157,971 thousand, of which DKK 143,889 thousand is the real estate in Warsaw, DKK 140 thousand is a \u00a0
\n\t\t\t\t\tland plot in Blichowo and DKK 13,942 thousand is right of use resulting from the application of IFRS 16. The value of the real estate in Warsaw is supported by \u00a0
\n\t\t\t\t\tan external valuation report received in December 2022, prepared by a leading international estate agent in Warsaw. The value of the land plot in Blichowo has \u00a0
\n\t\t\t\t\tbeen assessed by the company\u2019s management using a comparative method. \u00a0
\n\t\t\t\t\tThe value of the real estate in Warsaw represents the estate agent\u2019s assessment of the current fair value. In addition to the general price level in the market, \u00a0
\n\t\t\t\t\tthe assessment is based on these main assumptions: the present use of the property, the state of the buildings, the percentage of ownership, the income \u00a0
\n\t\t\t\t\tgenerated by the property and the zoning of the area. Any changes to these, particularly the percentage of ownership (i.e. the positive or negative resolution \u00a0
\n\t\t\t\t\tof former owners\u2019 claims), changes in zoning (e.g. to residential) and the general price development of similar properties in the area, could favourably or \u00a0
\n\t\t\t\t\tadversely impact the property valuation. \u00a0
\n\t\t\t\t\tFor the valuation purposes, the property was divided into four groups: internal roads, industrial schemes (buildings), development land and plots designated \u00a0
\n\t\t\t\t\tfor external roads. \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of internal roads, development land and external roads, a comparative approach has been used whereby recent sales are used \u00a0
\n\t\t\t\t\tto determine the likely value of the subject. This approach assumes that the variation in prices between at least three comparable properties can be explained \u00a0
\n\t\t\t\t\tby differences in their individual attributes such as location, surroundings, accessibility, development potential, etc. The influence of each of these attributes \u00a0
\n\t\t\t\t\ton the value is assigned a percentage weighting, and the characteristics of each comparable and the subject are then rated, typically from 1 \u2013 5, from very good \u00a0
\n\t\t\t\t\tto very poor. The price of each comparable is adjusted according to how it differs from the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on normal earnings. Income from each lessee is expected to be generated for as long \u00a0
\n\t\t\t\t\tas the lease is in force or until the first time it may be terminated if considered advantageous. Thereafter, income is expected to continue to be generated at \u00a0
\n\t\t\t\t\tmarket rent. Adjustments are made for lost rental income, fitting-out deposits and unobtainable running costs. Market rents applied range from DKK 55.6 per \u00a0
\n\t\t\t\t\tsqm for warehouses, to DKK 62.4 per sqm for offices and DKK 79.4 per sqm for self-storage boxes \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of the industrial buildings, an equivalent yield approach has been used. An equivalent yield is defined in the Glossary of Property \u00a0
\n\t\t\t\t\tTerms (2nd edition), published by Estates Gazette, as \u201cthe constant capitalisation rate applied to all cash flows, that is, the internal rate of return from an \u00a0
\n\t\t\t\t\t69 \u00a0
investment property reflecting reversions to current market rent, and such items as voids and expenditures, but disregarding potential changes in market rents. \u00a0
\n\t\t\t\t\tConventionally calculated on a nominal basis, assuming that rents are receivable/payable annually in arrears\u201d. \u00a0
\n\t\t\t\t\tThe required rates of return which have been set are an important factor in estimating the fair values. An equivalent yield of between 10.9% and 11.55% was \u00a0
\n\t\t\t\t\tadopted, which reflects the risks associated with a normal ownership or usufruct interest property including open-ended lease agreements and the physical \u00a0
\n\t\t\t\t\tstate of the particular buildings. Using the equivalent yields mentioned above, a value of the subject was obtained reflecting an initial yield of between 9.79% \u00a0
\n\t\t\t\t\tand 13.47% and a final yield of between 12.06% and 12.99%. \u00a0
Other assumptions: \u00a0
\n\t\t\t\t\tShort-term leases: assumed to expire after their notice periods \u00a0
\n\t\t\t\t\tLetting voids: 24 months for offices / 12 for warehouse & production space \u00a0
\n\t\t\t\t\tReletting voids: 10 months for offices / 5 for warehouse & production space \u00a0
\n\t\t\t\t\tNo fit-out contributions \u00a0
\n\t\t\t\t\tLetting fees: 16.5% \u00a0
\n\t\t\t\t\tNo rent-free periods and empty service charge \u00a0
\n\t\t\t\t\tIrrecoverable operating costs DKK 6.7 million (including property tax, perpetual usufruct fee, security, insurance, cost of the utilities based on the operating \u00a0
\n\t\t\t\t\tcost budget, plus management fee of 2% of market rent) \u00a0
\n\t\t\t\t\tCapital expenditure of DKK 3.7 million \u00a0
\n\t\t\t\t\tIn the case of properties for which the company is not entered in the land and mortgage register as a perpetual usufructuary or owner due to claims or \u00a0
\n\t\t\t\t\tprotracted administrative proceedings, the value is further reduced by 20% due to the risk that such claims will be accommodated and due to the expenses \u00a0
\n\t\t\t\t\tassociated with the transitional phase. \u00a0
Valuation sensitivity to the main factors used: \u00a0
\n\t\t\t\t\t+/- DKK 3,300 thousand for a change in the price of land by 10% (applied to internal roads, development land and external roads); \u00a0
\n\t\t\t\t\t+/- DKK 15,600 thousand for a change in market rent rate by 10%
(applied to plots of land with buildings i.e. perpetual usufruct right over plot 59/17 and \u00a0
\n\t\t\t\t\tpossession right over plots 69/8 and 69/3); \u00a0
\n\t\t\t\t\t- DKK 11,200 thousand for an increase in equivalent yield by 10%; + DKK 14,500 thousand for a decrease in equivalent yield by 10% (applied to plots of land \u00a0
\n\t\t\t\t\twith buildings i.e. perpetual usufruct right over plot 59/17 and possession right over plots 69/8 and 69/3); \u00a0
\n\t\t\t\t\t+/- DKK 2,000 thousand for a change in the discount for legal title by 10% (applies to plots in possession, i.e. without a legal title). \u00a0
Fair value hierarchy information \u00a0
\n\t\t\t\t\tLevel 1 \u00a0
\n\t\t\t\t\tLevel 2 \u00a0
\n\t\t\t\t\tLevel 3 \u00a0
\n\t\t\t\t\tat 31/12 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t137,322 \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tDirect operating expenses arising from investment property \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses (including repairs and maintenance) arising from \u00a0
\n\t\t\t\t\t6,946 \u00a0
\n\t\t\t\t\t5,657 \u00a0
\n\t\t\t\t\tinvestment property that generated rental income during the period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses (including repairs and maintenance) arising from investment \u00a0
\n\t\t\t\t\t671 \u00a0
\n\t\t\t\t\t834 \u00a0
\n\t\t\t\t\tproperty that did not generate rental income during the period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses arising from investment property \u00a0
\n\t\t\t\t\t7,617 \u00a0
\n\t\t\t\t\t6,491 \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tAmounts of minimum lease payments at balance sheet date under non-cancellable operating leases. \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tOperating lease payments may be specified as follows: \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tWithin 1 year \u00a0
\n\t\t\t\t\t6,063 \u00a0
\n\t\t\t\t\t5,591 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tBetween 1 and 5 years \u00a0
\n\t\t\t\t\t895 \u00a0
\n\t\t\t\t\t1,768 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t6,958 \u00a0
\n\t\t\t\t\t7,359 \u00a0
\n\t\t\t\t\tFor agreements with tenants for an indefinite period, the above figures represent the aggregate rental income from leasing agreements within their notice \u00a0
\n\t\t\t\t\tperiods. For agreements with tenants for a definite period, the above figures represent the aggregate rental until the end of the agreement. \u00a0
10. INVESTMENTS
IN SUBSIDIARIES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t93,339 \u00a0
\n\t\t\t\t\t93,339 \u00a0
\n\t\t\t\t\tCost at 1 January \u00a0
\n\t\t\t\t\t93,339 \u00a0
\n\t\t\t\t\t93,339 \u00a0
\n\t\t\t\t\tValue at 31 December \u00a0
10. INVESTMENTS
IN SUBSIDIARIES (CONTINUED) \u00a0
\n\t\t\t\t\tShare of \u00a0
\n\t\t\t\t\tShare of \u00a0
\n\t\t\t\t\tInterest \u00a0
\n\t\t\t\t\tInterest \u00a0
\n\t\t\t\t\tvoting \u00a0
\n\t\t\t\t\tvoting \u00a0
\n\t\t\t\t\t(%) \u00a0
\n\t\t\t\t\t(%) \u00a0
\n\t\t\t\t\trights (%) \u00a0
\n\t\t\t\t\trights (%) \u00a0
\n\t\t\t\t\tDomicile \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tActivity \u00a0
\n\t\t\t\t\tOwnership \u00a0
\n\t\t\t\t\tshare in \u00a0
\n\t\t\t\t\tCeMat Real Estate S.A. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t100.00 \u00a0
\n\t\t\t\t\t100.00 \u00a0
\n\t\t\t\t\t100.00 \u00a0
\n\t\t\t\t\t100.00 \u00a0
\n\t\t\t\t\tCeMat '70 S.A. \u00a0
\n\t\t\t\t\tLetting of \u00a0
\n\t\t\t\t\tcommercial \u00a0
\n\t\t\t\t\tCeMat '70 S.A. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\tproperties \u00a0
\n\t\t\t\t\tHolding \u00a0
\n\t\t\t\t\tW133 Sp. z o.o. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\tof rights \u00a0
\n\t\t\t\t\tHolding \u00a0
\n\t\t\t\t\tW131 Sp. z o.o. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\tof rights \u00a0
\n\t\t\t\t\tHolding \u00a0
\n\t\t\t\t\tArkuszowa 56 Sp. z o.o. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\tof rights \u00a0
\n\t\t\t\t\tCeMat Real Estate S.A. holds the ownership interest in CeMat '70 S.A., while CeMat '70 S.A. holds the ownership interests in W133 Sp. z o.o., W131 Sp. z o.o. and \u00a0
\n\t\t\t\t\tArkuszowa 56 Sp. z o.o. \u00a0
12. INVENTORIES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProperty under construction \u2013 land plot transferred from the investment property \u00a0
\n\t\t\t\t\t26,928 \u00a0
\n\t\t\t\t\t22,684 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther expenditures related to the development projects \u00a0
\n\t\t\t\t\t6,432 \u00a0
\n\t\t\t\t\t2,350 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t33,360 \u00a0
\n\t\t\t\t\t25,034 \u00a0
\n\t\t\t\t\tNo inventories are carried at fair value less costs to sell. There was not any write- down of inventories recognised as an expense in the period. There \u00a0
\n\t\t\t\t\twas not any reversal of a write-down to net realisable value. No inventories are pledged as security for liabilities. There was not any cost of \u00a0
\n\t\t\t\t\tinventories recognised as expense. \u00a0
Inventory recovery \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRecoverable within 12 months \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRecoverable after more than 12 months \u00a0
\n\t\t\t\t\t33,360 \u00a0
\n\t\t\t\t\t25,034 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t33,360 \u00a0
\n\t\t\t\t\t25,034 \u00a0
13. TRADE
RECEIVABLES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t2,715 \u00a0
\n\t\t\t\t\t2,151 \u00a0
\n\t\t\t\t\tLoss provisions included in the above receivables and \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\trecognised in \u201cOther external expenses\u201d \u00a0
\n\t\t\t\t\t(515) \u00a0
\n\t\t\t\t\t(424) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2,200 \u00a0
\n\t\t\t\t\t1,727 \u00a0
\n\t\t\t\t\tOverdue receivables for which provisions have not been made. \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOverdue by up to 1 month \u00a0
\n\t\t\t\t\t762 \u00a0
\n\t\t\t\t\t587 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOverdue by 1 to 3 months \u00a0
\n\t\t\t\t\t264 \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOverdue by more than 3 months \u00a0
\n\t\t\t\t\t59 \u00a0
\n\t\t\t\t\t108 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,085 \u00a0
\n\t\t\t\t\t917 \u00a0
\n\t\t\t\t\tOverdue receivables for which provisions have not been made, by geographical area: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tEurope \u00a0
\n\t\t\t\t\t1,085 \u00a0
\n\t\t\t\t\t917 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,085 \u00a0
\n\t\t\t\t\t917 \u00a0
\n\t\t\t\t\tWith the implementation of IFRS 9, the company has applied the simplified expected credit loss model to measure the expected credit loss allowance for all \u00a0
\n\t\t\t\t\ttrade receivables. Based on the low realised losses on receivables historically, adjustments to reflect current and forward-looking information on \u00a0
\n\t\t\t\t\tmacroeconomic factors affecting the ability of clients to settle the receivable such as GDP and unemployment rates do not increase the risk of losses \u00a0
\n\t\t\t\t\tsignificantly. \u00a0
13. TRADE
RECEIVABLES (CONTINUED) \u00a0
\n\t\t\t\t\tProvision account for receivables: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProvision account at 1 January \u00a0
\n\t\t\t\t\t424 \u00a0
\n\t\t\t\t\t301 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tReversed provisions \u00a0
\n\t\t\t\t\t(149) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProvisions for the year \u00a0
\n\t\t\t\t\t249 \u00a0
\n\t\t\t\t\t125 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTranslation differences \u00a0
\n\t\t\t\t\t(9) \u00a0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProvision account at 31 December \u00a0
\n\t\t\t\t\t515 \u00a0
\n\t\t\t\t\t424 \u00a0
14. CASH
AND CASH EQUIVALENTS AS PER THE CASH FLOW STATEMENT \u00a0
\n\t\t\t\t\tThe Group's cash and cash equivalents primarily consist of bank deposits. No credit risk is deemed to be associated with cash and cash equivalents. \u00a0
\n\t\t\t\t\tBank deposits carry floating rates of interest. The carrying amount equals the fair value of the assets. \u00a0
15. SHARE
CAPITAL \u00a0
\n\t\t\t\t\tThe share capital consists of 249,850,303 shares of DKK 0.02 each. The shares have not been divided into classes and carry no special rights. \u00a0
\n\t\t\t\t\t\u2018000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNumber of shares at 1 January \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tCancellation of own shares \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tNumber of shares at 31 December \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tShare capital at 1 January \u00a0
\n\t\t\t\t\t4,997 \u00a0
\n\t\t\t\t\t4,997 \u00a0
\n\t\t\t\t\tCancellation of own shares \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tShare capital at 31 December \u00a0
\n\t\t\t\t\t4,997 \u00a0
\n\t\t\t\t\t4,997 \u00a0
16. OTHER
RESERVES \u00a0
\n\t\t\t\t\tThe translation reserve comprises all foreign exchange adjustments arising from the translation of the financial statements of entities with other \u00a0
\n\t\t\t\t\tfunctional currencies than DKK and the foreign exchange adjustments of receivables from or payables to subsidiaries which are considered part of \u00a0
\n\t\t\t\t\tthe parent company\u2019s overall investment in the subsidiary. \u00a0
17. LEASE
LIABILITIES \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tLease liabilities arise from the application of IFRS 16 and relate to the right of perpetual usufruct and the leasing of a company car. Disclosures \u00a0
\n\t\t\t\t\tregarding the depreciation charge for right-of-use assets and the carrying amount of right-of-use assets at the end of the reporting period are included \u00a0
\n\t\t\t\t\tin Note 9. Interest expense on lease liabilities is presented in Note 6. The total cash outflow for leases was DKK 956 thousand in 2022. The expense \u00a0
\n\t\t\t\t\trelating to short-term operating leases for which no lease liability was recognised at the end of the reporting period was DKK 16 thousand. The fixed \u00a0
\n\t\t\t\t\tincremental borrowing rate applied for first time recognition of lease liability was 6%. The total lease obligation was discounted using the incremental \u00a0
\n\t\t\t\t\tborrowing rate over the total lease period, which is 67 years. \u00a0
Minimum lease \u00a0
\n\t\t\t\t\tPresent value of minimum \u00a0
\n\t\t\t\t\tpayments, DKK\u2019000 \u00a0
\n\t\t\t\t\tlease payments, DKK\u2018000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tFinance lease liabilities fall due as follows: \u00a0
\n\t\t\t\t\tWithin 1 year from the balance sheet date \u00a0
\n\t\t\t\t\t867 \u00a0
\n\t\t\t\t\t1,002 \u00a0
\n\t\t\t\t\t818 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\tBetween 1 and 5 years from the balance sheet date \u00a0
\n\t\t\t\t\t3,473 \u00a0
\n\t\t\t\t\t4,152 \u00a0
\n\t\t\t\t\t2,843 \u00a0
\n\t\t\t\t\t3,401 \u00a0
\n\t\t\t\t\tMore than 5 years from the balance sheet date \u00a0
\n\t\t\t\t\t52,619 \u00a0
\n\t\t\t\t\t64,061 \u00a0
\n\t\t\t\t\t10,285 \u00a0
\n\t\t\t\t\t12,343 \u00a0
\n\t\t\t\t\tAt 31 December \u00a0
\n\t\t\t\t\t56,959 \u00a0
\n\t\t\t\t\t69,215 \u00a0
\n\t\t\t\t\t13,946 \u00a0
\n\t\t\t\t\t16,687 \u00a0
Present value \u00a0
\n\t\t\t\t\tFixed or \u00a0
\n\t\t\t\t\tof minimum \u00a0
\n\t\t\t\t\tfloating \u00a0
\n\t\t\t\t\tlease \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tExpiry interest rate
payments, DKK\u2018000
DKK\u2018000 \u00a0
\n\t\t\t\t\tLease liability, right of use investment property \u00a0
\n\t\t\t\t\t2089 \u00a0
\n\t\t\t\t\tFixed \u00a0
\n\t\t\t\t\t13,825 \u00a0
\n\t\t\t\t\t13,824 \u00a0
\n\t\t\t\t\tLease liability, right of use plant and machinery \u00a0
\n\t\t\t\t\t2025 \u00a0
\n\t\t\t\t\tFloating \u00a0
\n\t\t\t\t\t121 \u00a0
\n\t\t\t\t\t121 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t13,946 \u00a0
\n\t\t\t\t\t13,946 \u00a0
\n\t\t\t\t\tPresent value \u00a0
\n\t\t\t\t\tFixed or \u00a0
\n\t\t\t\t\tof minimum \u00a0
\n\t\t\t\t\tfloating \u00a0
\n\t\t\t\t\tlease \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tExpiry interest rate
payments, DKK\u2018000
DKK\u2018000 \u00a0
\n\t\t\t\t\tLease liability, right of use investment property \u00a0
\n\t\t\t\t\t2089 \u00a0
\n\t\t\t\t\tFixed \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\tLease liability, right of use plant and machinery \u00a0
\n\t\t\t\t\t2025 \u00a0
\n\t\t\t\t\tFloating \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t16,687 \u00a0
18. CHANGES
IN LIABILITIES ARISING FROM FINANCING ACTIVITIES \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t(22) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t118 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t57 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\tTotal financial liabilities \u00a0
\n\t\t\t\t\t1,148 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t35 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,151 \u00a0
2021 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(40) \u00a0
\n\t\t\t\t\t157 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tTotal financial liabilities \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t(40) \u00a0
\n\t\t\t\t\t183 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,148 \u00a0
PARENT COMPANY \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLoans from subsidiaries \u00a0
\n\t\t\t\t\t27,367 \u00a0
\n\t\t\t\t\t2,536 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,146 \u00a0
\n\t\t\t\t\t(490) \u00a0
\n\t\t\t\t\t30,559 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t57 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\tLoans \u00a0
\n\t\t\t\t\t28,343 \u00a0
\n\t\t\t\t\t2,536 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,203 \u00a0
\n\t\t\t\t\t(490) \u00a0
\n\t\t\t\t\t31,592 \u00a0
2021 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLoans from subsidiaries \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t797 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,082 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t27,367 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tLoans \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t1,747 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,108 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t28,343 \u00a0
19. TRADE
PAYABLES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tAmounts owed to suppliers for goods \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tand services delivered \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\tThe carrying amount equals the fair value of the liabilities. Amounts owed to suppliers fall due within one year. \u00a0
20. OTHER
PAYABLES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tWages and salaries, BoD fee, social security contributions, etc. payable \u00a0
\n\t\t\t\t\t1,587 \u00a0
\n\t\t\t\t\t1,356 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tHoliday pay obligation etc. \u00a0
\n\t\t\t\t\t230 \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tVAT and other indirect taxes payable \u00a0
\n\t\t\t\t\t(1,754) \u00a0
\n\t\t\t\t\t(160) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tCost provisions and other payables \u00a0
\n\t\t\t\t\t373 \u00a0
\n\t\t\t\t\t1,208 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\tThe carrying amount of payables in respect of payroll, Board of Directors fees, tax deducted at source, social security contributions, holiday pay etc., \u00a0
\n\t\t\t\t\tVAT and other indirect taxes and other payables corresponds to the fair value of these liabilities. Holiday pay obligations etc. represent the Group\u2019s \u00a0
\n\t\t\t\t\tobligation to pay wages and salaries during holidays in the next financial year, to which the employees have earned entitlement as at the balance \u00a0
\n\t\t\t\t\tsheet date. All items under other payables are expected to be settled within one year. \u00a0
21. CHANGE
IN NET WORKING CAPITAL \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in receivables \u00a0
\n\t\t\t\t\t(688) \u00a0
\n\t\t\t\t\t(85) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in inventories (work in progress) \u00a0
\n\t\t\t\t\t(3,946) \u00a0
\n\t\t\t\t\t(3,090) \u00a0
\n\t\t\t\t\t320 \u00a0
\n\t\t\t\t\t(11) \u00a0
\n\t\t\t\t\tChange in trade payables and other payables \u00a0
\n\t\t\t\t\t(1,800) \u00a0
\n\t\t\t\t\t(182) \u00a0
\n\t\t\t\t\t320 \u00a0
\n\t\t\t\t\t(11) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(6,434) \u00a0
\n\t\t\t\t\t(3,357) \u00a0
22. GUARANTEES
AND CONTINGENT LIABILITIES \u00a0
\n\t\t\t\t\tNo guarantees or sureties have been issued to third parties. \u00a0
23. OTHER
CONTRACTUAL COMMITMENTS \u00a0
\n\t\t\t\t\tAt the balance sheet date, the Group had no contractual commitments. \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t2,200 \u00a0
\n\t\t\t\t\t1,727 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\tIntra-group receivables \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, current \u00a0
\n\t\t\t\t\t472 \u00a0
\n\t\t\t\t\t257 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, non-current \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t273 \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,648 \u00a0
\n\t\t\t\t\t1,518 \u00a0
\n\t\t\t\t\tLoans, advances and receivables \u00a0
\n\t\t\t\t\t10,177 \u00a0
\n\t\t\t\t\t18,461 \u00a0
\n\t\t\t\t\t30,635 \u00a0
\n\t\t\t\t\t27,366 \u00a0
\n\t\t\t\t\tDebt to subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, current \u00a0
\n\t\t\t\t\t815 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, non-current \u00a0
\n\t\t\t\t\t13,128 \u00a0
\n\t\t\t\t\t15,751 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther non-current liabilities \u00a0
\n\t\t\t\t\t3,263 \u00a0
\n\t\t\t\t\t2,173 \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tIncome tax payable \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\t32,856 \u00a0
\n\t\t\t\t\t29,342 \u00a0
\n\t\t\t\t\tFinancial liabilities \u00a0
\n\t\t\t\t\t20,612 \u00a0
\n\t\t\t\t\t23,814 \u00a0
\n\t\t\t\t\tFinance lease liabilities are measured at fair value, while other remaining liabilities are measured at amortised cost. \u00a0
The Group\u2019s risk management policy \u00a0
\n\t\t\t\t\tRisk management is an integral part of the day-to-day management of the business and is subject to continuous review by Management. Management \u00a0
\n\t\t\t\t\tbelieves that all material risks, apart from financial risks, concern supplier-customer relations. Due to the nature of its operations and capitalisation, \u00a0
\n\t\t\t\t\tthe Group is not particularly exposed to fluctuations in exchange rates and interest rates. The Group pursues a low-risk profile, with currency, interest \u00a0
\n\t\t\t\t\trate and credit risks arising only in connection with commercial relations. It is the Group\u2019s policy not to actively speculate in financial risks. \u00a0
\n\t\t\t\t\tThe Group manages its financial risks by means of a model for managing its cash budgeting covering a period of 1 year. \u00a0
Currency risk \u00a0
\n\t\t\t\t\tCurrency risk constitutes the risk of losses (or the possibility of gains) when exchange rates change. Currency risk arises when income and expense \u00a0
\n\t\t\t\t\titems in foreign currency are recognised in profit or loss or from the value adjustment of balance sheet items denominated in other currencies. \u00a0
\n\t\t\t\t\tThe Group\u2019s sales are primarily settled in PLN and cost items are typically settled in DKK or PLN. The Group does not use derivative financial \u00a0
\n\t\t\t\t\tinstruments to hedge currency risks from cash flows or balance sheet items. Instead, the Group uses foreign currency to settle same-currency debt \u00a0
\n\t\t\t\t\titems, which generally reduces currency risk. \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tUnhedged net position at balance sheet date: \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t6,832 \u00a0
\n\t\t\t\t\t2,672 \u00a0
\n\t\t\t\t\t(18,391) \u00a0
\n\t\t\t\t\t(8,887) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(8,887) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,221) \u00a0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t2,672 \u00a0
\n\t\t\t\t\t(20,612) \u00a0
\n\t\t\t\t\t(10,801) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(10,801) \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t15,998 \u00a0
\n\t\t\t\t\t1,984 \u00a0
\n\t\t\t\t\t(21,838) \u00a0
\n\t\t\t\t\t(3,856) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(3,856) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,976) \u00a0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,984 \u00a0
\n\t\t\t\t\t(23,814) \u00a0
\n\t\t\t\t\t(5,626) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(5,626) \u00a0
-
\n\t\t\t\t\t-
\n\t\t\t\t\t24. FINANCIAL RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t(30,635) \u00a0
\n\t\t\t\t\t(29,294) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(29,294) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,221) \u00a0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t(32,856) \u00a0
\n\t\t\t\t\t(31,208) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(31,208) \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\t(27,366) \u00a0
\n\t\t\t\t\t(26,054) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(26,054) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,976) \u00a0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\t(29,342) \u00a0
\n\t\t\t\t\t(27,824) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(27,824) \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tCredit risk \u00a0
\n\t\t\t\t\tThe Group\u2019s credit risks associated with financial activities correspond to the amounts recognised in the balance sheet. The Group assesses the need \u00a0
\n\t\t\t\t\tfor insurance on individual debtors on an ongoing basis. This assessment is based on the individual debtor's present and expected future commitment \u00a0
\n\t\t\t\t\tto the Group. \u00a0
\n\t\t\t\t\tThe primary credit risk of the Group is associated with trade receivables. No special credit risks are found to exist in this regard. \u00a0
Capital management \u00a0
\n\t\t\t\t\tThe Group evaluates the need to adapt its capital structure on an ongoing basis. Management believes that the financing of the Group's future \u00a0
\n\t\t\t\t\toperations will be secured with the existing financial resources and cash flows from operating activities. \u00a0
\n\t\t\t\t\tAs regards the free cash flow generated by the Group, first priority is to allocate free cash flows to the Group's continued expansion and shareholder \u00a0
\n\t\t\t\t\tdividends. \u00a0
\n\t\t\t\t\tFor the Group, equity as a percentage of total equity and liabilities at the end of 2022 was 74.9% (2021: 72.7%). The realised return on equity for the \u00a0
\n\t\t\t\t\tGroup for 2022 was 15.7% (2021: 22.0%). \u00a0
The Group\u2019s financial gearing at the balance sheet date is calculated as follows: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank debt \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t(307) \u00a0
\n\t\t\t\t\t(820) \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t(7,139) \u00a0
\n\t\t\t\t\t(16,204) \u00a0
\n\t\t\t\t\t726 \u00a0
\n\t\t\t\t\t156 \u00a0
\n\t\t\t\t\tNet interest-bearing debt \u00a0
\n\t\t\t\t\t(6,106) \u00a0
\n\t\t\t\t\t(15,228) \u00a0
\n\t\t\t\t\t62,131 \u00a0
\n\t\t\t\t\t65,515 \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\t150,896 \u00a0
\n\t\t\t\t\t131,367 \u00a0
\n\t\t\t\t\t0.01 \u00a0
\n\t\t\t\t\t0.00 \u00a0
\n\t\t\t\t\tFinancial gearing \u00a0
\n\t\t\t\t\t(0.04) \u00a0
\n\t\t\t\t\t(0.12) \u00a0
Liquidity and capital resources \u00a0
\n\t\t\t\t\tAt Group level, free cash and cash equivalents amounted to DKK 7.1 million at 31 December 2022, of which DKK 4.8 million are attributable to CeMat \u00a0
\n\t\t\t\t\t'70 S.A. \u00a0
\n\t\t\t\t\tBased on expectations for 2023, Management believes that the existing capital resources and the expected future cash flows will be sufficient to \u00a0
\n\t\t\t\t\tmaintain operations and finance planned investments. \u00a0
\n\t\t\t\t\tThe Group\u2019s budgets, and consequently also its future capital resources, are inherently subject to risk since the extent and timing of cash flow \u00a0
\n\t\t\t\t\tfluctuations will have an impact on the Group\u2019s capital resources. Management believes that any negative deviations in its operations relative to \u00a0
\n\t\t\t\t\tbudgeted cash flows can be mitigated on a timely basis by cash flow-enhancing measures. \u00a0
Risk related to obtaining external financing \u00a0
\n\t\t\t\t\tThe real estate development business, in which the Group intends to operate, requires significant initial expenditures to purchase land and to cover \u00a0
\n\t\t\t\t\tconstruction, infrastructure, and design costs. As such, the Group, in order to continue and develop its business, require significant amounts of cash \u00a0
\n\t\t\t\t\tthrough external financing by banks. The Group\u2019s ability to obtain such financing depend on many factors, in particular, on market conditions which \u00a0
\n\t\t\t\t\tare beyond the Group\u2019s control. In the event of difficulties to obtain the required financing, there is a risk that the scale of the Group\u2019s development \u00a0
\n\t\t\t\t\tand pace of achieving its strategic objectives may differ from what was originally planned. In such situation as described above, there is no certainty \u00a0
\n\t\t\t\t\twhether the Group will be able to obtain the required financing, nor whether financial resources will be obtained under conditions that are favourable \u00a0
\n\t\t\t\t\tto the Group. \u00a0
\n\t\t\t\t\tLoans that the Company intends to obtain will be against variable interest rates that are based on WIBOR rates plus a margin. Therefore, changes in \u00a0
\n\t\t\t\t\tthe WIBOR rates will have impact on the cash flow and the profitability of the Company. \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tAvailability of mortgages \u00a0
\n\t\t\t\t\tThe demand for residential real estate largely depends on the availability of credits and loans for financing the purchase of apartments and houses \u00a0
\n\t\t\t\t\tby individuals. Possible increase in interest rates, deterioration of the economic situation in Poland, the pandemic situation and the increase in \u00a0
\n\t\t\t\t\tunemployment in Poland as well as possible administrative restrictions on lending activities of the banks may cause a drop in demand for apartments \u00a0
\n\t\t\t\t\tand houses, and therefore a decrease in interest from potential buyers in the Company's development projects, which in turn may have a significant \u00a0
\n\t\t\t\t\tadverse impact on activities, financial standing or performance of the Company. \u00a0
25. IMPLICATIONS
OF THE COVID-19 PANDEMIC ON THE FINANCIAL STATEMENTS \u00a0
\n\t\t\t\t\tThe outbreak of the Covid-19 pandemic and the subsequent lockdown did not directly limit the company's operations. However, it did affect the \u00a0
\n\t\t\t\t\toperating activities of some tenants and, consequently, their financial condition. \u00a0
\n\t\t\t\t\tThis resulted in the need to grant selected tenants rent concessions in order to avoid losing them, an increase in writing off bad debts and the \u00a0
\n\t\t\t\t\ttermination of leasing contracts. Another negative effect of the pandemic was the lower consumption of utilities by the tenants affected by the \u00a0
\n\t\t\t\t\tlockdown and the associated lower margin on their resale. These events had a negative impact on the company's finances especially in 2020. Their \u00a0
\n\t\t\t\t\timpact on the company's finances in 2021 was limited and in 2022, the company did not experience any effects of the covid-19 pandemic. \u00a0
\n\t\t\t\t\tThe company took advantage of Polish government aid programmes in 2021. Exemption from perpetual usufruct fee in the amount of DKK 0.2 million \u00a0
\n\t\t\t\t\tand partial redemption (DKK 0.6 million) of a financial subsidy from the government were recognised in the income statement under other external \u00a0
\n\t\t\t\t\texpenses. \u00a0
26. FEE
FOR AUDITORS APPOINTED BY THE GENERAL MEETING \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t140 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\tAudit of annual report \u00a0
\n\t\t\t\t\t263 \u00a0
\n\t\t\t\t\t258 \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\tNon-audit services \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t188 \u00a0
\n\t\t\t\t\t161 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t311 \u00a0
\n\t\t\t\t\t284 \u00a0
27. RELATED
PARTIES \u00a0
\n\t\t\t\t\tThe Group has no related parties exercising control. \u00a0
\n\t\t\t\t\tThe Group has the following related parties: \u00a0
\n\t\t\t\t\t\u2022 Ambit
Jaros\u0142aw Lipi\u0144ski, owned by member of the Management Board \u00a0
\n\t\t\t\t\tThe parent company has the following related parties: \u00a0
\n\t\t\t\t\t\u2022 CeMat
Real Estate S.A., subsidiary in Poland \u00a0
\n\t\t\t\t\t\u2022 CeMat
'70 S.A., subsidiary in Poland \u00a0
\n\t\t\t\t\tThe parent company had transactions with the following related parties in 2021 and 2022: \u00a0
\n\t\t\t\t\t\u2022 CeMat
Real Estate S.A., subsidiary in Poland \u00a0
\n\t\t\t\t\t\u2022 CeMat
'70 S.A., subsidiary in Poland \u00a0
28. RELATED
PARTY TRANSACTIONS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t54 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tSubsidiaries, interest income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,147 \u00a0
\n\t\t\t\t\t1,083 \u00a0
\n\t\t\t\t\tSubsidiaries, interest expenses \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,201 \u00a0
\n\t\t\t\t\t1,138 \u00a0
\n\t\t\t\t\tTotal transactions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther management remuneration etc. is stated separately in connection with note 4 \u201cStaff costs\u201d. \u00a0
PARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\tSubsidiaries, loans receivable \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(64) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tSubsidiaries, creditor payable \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(30,559) \u00a0
\n\t\t\t\t\t(27,366) \u00a0
\n\t\t\t\t\tSubsidiaries, loans payable \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(29,282) \u00a0
\n\t\t\t\t\t(26,054) \u00a0
\n\t\t\t\t\tTotal outstanding amount \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
29. SHAREHOLDER
INFORMATION \u00a0
\n\t\t\t\t\tThe parent company has registered the following shareholders holding more than 5% of the voting rights or nominal value of the share capital as at \u00a0
\n\t\t\t\t\t31.12.2022 \u00a0
\n\t\t\t\t\tComposition of shareholders \u00a0
\n\t\t\t\t\tNumber of shares \u00a0
\n\t\t\t\t\tCapital DKK \u00a0
\n\t\t\t\t\tCapital % \u00a0
\n\t\t\t\t\tEDJ-Gruppen Havnegade 19 6700 Esbjerg, Denmark \u00a0
\n\t\t\t\t\t81,250,000 \u00a0
\n\t\t\t\t\t1,625,000.00 \u00a0
\n\t\t\t\t\t32.52 \u00a0
\n\t\t\t\t\tGist Holding ApS C.F Richs Vej 31 \u00a0
\n\t\t\t\t\t25,691,023 \u00a0
\n\t\t\t\t\t513,820.46 \u00a0
\n\t\t\t\t\t10.28 \u00a0
30. BOARD
OF DIRECTORS AND MANAGEMENT BOARD \u00a0
\n\t\t\t\t\tThe Board of Directors and Management Board of CeMat A/S hold shares in CeMat A/S. \u00a0
\n\t\t\t\t\tShareholding, \u00a0
\n\t\t\t\t\tnominal value, DKK'000 \u00a0
\n\t\t\t\t\tShares (own and related parties*) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tFrede Clausen, Chairman \u00a0
\n\t\t\t\t\t190 \u00a0
\n\t\t\t\t\t190 \u00a0
\n\t\t\t\t\tEivind Dam Jensen (EDJ-Gruppen), Deputy Chairman \u00a0
\n\t\t\t\t\t1,625 \u00a0
\n\t\t\t\t\t1,625 \u00a0
\n\t\t\t\t\tJoanna Iwanowska-Nielsen, Member of the Board of Directors \u00a0
\n\t\t\t\t\t22 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tJaros\u0142aw Lipi\u0144ski, CEO \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,877 \u00a0
\n\t\t\t\t\t1,871 \u00a0
\n\t\t\t\t\t* Related parties are Management's close family and companies in which they hold managerial positions or directorships. \u00a0
31. EVENTS
AFTER THE BALANCE SHEET DATE \u00a0
\n\t\t\t\t\tNo significant events have occurred after the balance sheet date. \u00a0
32. APPROVAL
OF THE ANNUAL REPORT FOR PUBLICATION \u00a0
\n\t\t\t\t\tThe Board of Directors approved this annual report for publication at a board meeting held on 22 February 2023. The annual report will be \u00a0
\n\t\t\t\t\tpresented to the shareholders of the parent company for approval at the annual general meeting to be held on 23 March 2023. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1805": {
"value": "Tax \u00a0
\n\t\t\t\t\tTax for the year, which consists of current tax and changes in deferred tax for \u00a0
\n\t\t\t\t\tthe year, is recognised in the income statement with respect to the portion \u00a0
\n\t\t\t\t\tattributable to the profit/loss for the year and directly in equity with respect \u00a0
\n\t\t\t\t\tto the portion attributable to entries directly in equity. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognised in the balance sheet as the \u00a0
\n\t\t\t\t\ttax calculated on the taxable income for the year, adjusted for tax paid on \u00a0
\n\t\t\t\t\taccount. \u00a0
\n\t\t\t\t\tThe calculation of the year\u2019s current tax is based on the tax rates and tax rules \u00a0
\n\t\t\t\t\tapplicable at the balance sheet date. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the tax rates and tax rules that, based on \u00a0
\n\t\t\t\t\tlegislation in force or in reality in force at the balance sheet date, are expected \u00a0
\n\t\t\t\t\tto apply in the respective countries when the deferred tax is expected to \u00a0
\n\t\t\t\t\tcrystallise as current tax. Changes in deferred tax as a result of changed tax \u00a0
\n\t\t\t\t\trates or rules are recognised in the income statement, unless the deferred tax \u00a0
\n\t\t\t\t\tcan be attributed to items previously recognised directly in equity. In the \u00a0
\n\t\t\t\t\tlatter case, the change is also recognised directly in equity. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the balance sheet liability method on all \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not recognised on temporary \u00a0
\n\t\t\t\t\tdifferences relating to the initial recognition of goodwill or the initial \u00a0
\n\t\t\t\t\trecognition of a transaction, apart from business combinations, and where \u00a0
\n\t\t\t\t\tthe temporary difference existing at the date of initial recognition affects \u00a0
\n\t\t\t\t\tneither profit/loss for the year nor taxable income. \u00a0
\n\t\t\t\t\tDeferred tax is provided on temporary differences arising on investments in \u00a0
\n\t\t\t\t\tsubsidiaries and associates, unless the parent company is able to control \u00a0
\n\t\t\t\t\twhen the deferred tax is to be realised and it is likely that the deferred tax \u00a0
\n\t\t\t\t\twill not crystallise as current tax within the foreseeable future. \u00a0
\n\t\t\t\t\tDeferred tax is calculated based on the planned use of the individual asset \u00a0
\n\t\t\t\t\tand the settlement of the individual liability, respectively. \u00a0
\n\t\t\t\t\tDeferred tax assets, including the tax base of tax loss carry-forwards, are \u00a0
\n\t\t\t\t\trecognised in the balance sheet at the value at which the asset is expected to \u00a0
be realised, either through a set-off against deferred tax liabilities or as net \u00a0
\n\t\t\t\t\ttax assets to be offset against future positive taxable income. At each balance \u00a0
\n\t\t\t\t\tsheet date, an assessment is made as to whether it is likely that there will be \u00a0
\n\t\t\t\t\tsufficient future taxable income for the deferred tax asset to be utilised. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1807": {
"value": "Tax \u00a0
\n\t\t\t\t\tTax for the year, which consists of current tax and changes in deferred tax for \u00a0
\n\t\t\t\t\tthe year, is recognised in the income statement with respect to the portion \u00a0
\n\t\t\t\t\tattributable to the profit/loss for the year and directly in equity with respect \u00a0
\n\t\t\t\t\tto the portion attributable to entries directly in equity. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognised in the balance sheet as the \u00a0
\n\t\t\t\t\ttax calculated on the taxable income for the year, adjusted for tax paid on \u00a0
\n\t\t\t\t\taccount. \u00a0
\n\t\t\t\t\tThe calculation of the year\u2019s current tax is based on the tax rates and tax rules \u00a0
\n\t\t\t\t\tapplicable at the balance sheet date. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the tax rates and tax rules that, based on \u00a0
\n\t\t\t\t\tlegislation in force or in reality in force at the balance sheet date, are expected \u00a0
\n\t\t\t\t\tto apply in the respective countries when the deferred tax is expected to \u00a0
\n\t\t\t\t\tcrystallise as current tax. Changes in deferred tax as a result of changed tax \u00a0
\n\t\t\t\t\trates or rules are recognised in the income statement, unless the deferred tax \u00a0
\n\t\t\t\t\tcan be attributed to items previously recognised directly in equity. In the \u00a0
\n\t\t\t\t\tlatter case, the change is also recognised directly in equity. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the balance sheet liability method on all \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not recognised on temporary \u00a0
\n\t\t\t\t\tdifferences relating to the initial recognition of goodwill or the initial \u00a0
\n\t\t\t\t\trecognition of a transaction, apart from business combinations, and where \u00a0
\n\t\t\t\t\tthe temporary difference existing at the date of initial recognition affects \u00a0
\n\t\t\t\t\tneither profit/loss for the year nor taxable income. \u00a0
\n\t\t\t\t\tDeferred tax is provided on temporary differences arising on investments in \u00a0
\n\t\t\t\t\tsubsidiaries and associates, unless the parent company is able to control \u00a0
\n\t\t\t\t\twhen the deferred tax is to be realised and it is likely that the deferred tax \u00a0
\n\t\t\t\t\twill not crystallise as current tax within the foreseeable future. \u00a0
\n\t\t\t\t\tDeferred tax is calculated based on the planned use of the individual asset \u00a0
\n\t\t\t\t\tand the settlement of the individual liability, respectively. \u00a0
\n\t\t\t\t\tDeferred tax assets, including the tax base of tax loss carry-forwards, are \u00a0
\n\t\t\t\t\trecognised in the balance sheet at the value at which the asset is expected to \u00a0
be realised, either through a set-off against deferred tax liabilities or as net \u00a0
\n\t\t\t\t\ttax assets to be offset against future positive taxable income. At each balance \u00a0
\n\t\t\t\t\tsheet date, an assessment is made as to whether it is likely that there will be \u00a0
\n\t\t\t\t\tsufficient future taxable income for the deferred tax asset to be utilised. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1809": {
"value": "Tax \u00a0
\n\t\t\t\t\tTax for the year, which consists of current tax and changes in deferred tax for \u00a0
\n\t\t\t\t\tthe year, is recognised in the income statement with respect to the portion \u00a0
\n\t\t\t\t\tattributable to the profit/loss for the year and directly in equity with respect \u00a0
\n\t\t\t\t\tto the portion attributable to entries directly in equity. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognised in the balance sheet as the \u00a0
\n\t\t\t\t\ttax calculated on the taxable income for the year, adjusted for tax paid on \u00a0
\n\t\t\t\t\taccount. \u00a0
\n\t\t\t\t\tThe calculation of the year\u2019s current tax is based on the tax rates and tax rules \u00a0
\n\t\t\t\t\tapplicable at the balance sheet date. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the tax rates and tax rules that, based on \u00a0
\n\t\t\t\t\tlegislation in force or in reality in force at the balance sheet date, are expected \u00a0
\n\t\t\t\t\tto apply in the respective countries when the deferred tax is expected to \u00a0
\n\t\t\t\t\tcrystallise as current tax. Changes in deferred tax as a result of changed tax \u00a0
\n\t\t\t\t\trates or rules are recognised in the income statement, unless the deferred tax \u00a0
\n\t\t\t\t\tcan be attributed to items previously recognised directly in equity. In the \u00a0
\n\t\t\t\t\tlatter case, the change is also recognised directly in equity. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the balance sheet liability method on all \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not recognised on temporary \u00a0
\n\t\t\t\t\tdifferences relating to the initial recognition of goodwill or the initial \u00a0
\n\t\t\t\t\trecognition of a transaction, apart from business combinations, and where \u00a0
\n\t\t\t\t\tthe temporary difference existing at the date of initial recognition affects \u00a0
\n\t\t\t\t\tneither profit/loss for the year nor taxable income. \u00a0
\n\t\t\t\t\tDeferred tax is provided on temporary differences arising on investments in \u00a0
\n\t\t\t\t\tsubsidiaries and associates, unless the parent company is able to control \u00a0
\n\t\t\t\t\twhen the deferred tax is to be realised and it is likely that the deferred tax \u00a0
\n\t\t\t\t\twill not crystallise as current tax within the foreseeable future. \u00a0
\n\t\t\t\t\tDeferred tax is calculated based on the planned use of the individual asset \u00a0
\n\t\t\t\t\tand the settlement of the individual liability, respectively. \u00a0
\n\t\t\t\t\tDeferred tax assets, including the tax base of tax loss carry-forwards, are \u00a0
\n\t\t\t\t\trecognised in the balance sheet at the value at which the asset is expected to \u00a0
be realised, either through a set-off against deferred tax liabilities or as net \u00a0
\n\t\t\t\t\ttax assets to be offset against future positive taxable income. At each balance \u00a0
\n\t\t\t\t\tsheet date, an assessment is made as to whether it is likely that there will be \u00a0
\n\t\t\t\t\tsufficient future taxable income for the deferred tax asset to be utilised. \u00a0
Tax asset utilisation \u00a0
\n\t\t\t\t\tDeferred tax assets are recognised for all unutilised tax losses and differences \u00a0
\n\t\t\t\t\tto the extent it is considered likely that they can be utilised through taxable \u00a0
\n\t\t\t\t\tincome within a foreseeable number of years. \u00a0
7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tThe current tax for the financial year has been calculated at a tax rate of 22.0%. \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCurrent tax \u00a0
\n\t\t\t\t\t(901) \u00a0
\n\t\t\t\t\t(516) \u00a0
\n\t\t\t\t\tChange in deferred tax including change in value \u00a0
\n\t\t\t\t\t(4,823) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t(6) \u00a0
\n\t\t\t\t\t(29) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(5,730) \u00a0
\n\t\t\t\t\t(6,898) \u00a0
\n\t\t\t\t\tTax on the profit/loss for the year may be specified as follows: \u00a0
\n\t\t\t\t\tProfit/(loss) before tax \u00a0
\n\t\t\t\t\t27,858 \u00a0
\n\t\t\t\t\t33,159 \u00a0
\n\t\t\t\t\tTax at a rate of 22.0% \u00a0
\n\t\t\t\t\t(6,118) \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\t(7,295) \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\tEffect of different tax rate in foreign entities \u00a0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t3.4% \u00a0
\n\t\t\t\t\t1,095 \u00a0
\n\t\t\t\t\t3.3% \u00a0
\n\t\t\t\t\tTax base of non-deductible expenses and non-taxable income \u00a0
\n\t\t\t\t\t200 \u00a0
\n\t\t\t\t\t0.7% \u00a0
\n\t\t\t\t\t82 \u00a0
\n\t\t\t\t\t0.2% \u00a0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t(6) \u00a0
\n\t\t\t\t\t0.0% \u00a0
\n\t\t\t\t\t(29) \u00a0
\n\t\t\t\t\t(0.1%) \u00a0
\n\t\t\t\t\tValue adjustment of deferred tax \u00a0
\n\t\t\t\t\t(756) \u00a0
\n\t\t\t\t\t(2,7%) \u00a0
\n\t\t\t\t\t(751) \u00a0
\n\t\t\t\t\t(2.3%) \u00a0
\n\t\t\t\t\tEffective tax/tax rate for the year \u00a0
\n\t\t\t\t\t(5,730) \u00a0
\n\t\t\t\t\t(20.6%) \u00a0
\n\t\t\t\t\t(6,898) \u00a0
\n\t\t\t\t\t(20.8%) \u00a0
7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX (CONTINUED) \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tBreakdown of deferred tax for the Group stated in the balance sheet: \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDeferred tax liabilities, see balance sheet \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tDeferred tax, net \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tRecognise \u00a0
\n\t\t\t\t\tLoss of \u00a0
\n\t\t\t\t\tForeign \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tin Income \u00a0
\n\t\t\t\t\tusability \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tStatement \u00a0
\n\t\t\t\t\tof tax losses \u00a0
\n\t\t\t\t\tadjustment Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t31.12.2022 \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t(24,715) \u00a0
\n\t\t\t\t\t(4,469) \u00a0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(29,287) \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t(1,186) \u00a0
\n\t\t\t\t\t(321) \u00a0
\n\t\t\t\t\t(1,507) \u00a0
\n\t\t\t\t\tOther payables etc \u00a0
\n\t\t\t\t\t265 \u00a0
\n\t\t\t\t\t(33) \u00a0
\n\t\t\t\t\t232 \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\t(4,823) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(30,562) \u00a0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\t750 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t24,888 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\t750 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t24,888 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(24,140) \u00a0
\n\t\t\t\t\t(756) \u00a0
\n\t\t\t\t\t568 \u00a0
\n\t\t\t\t\t2
\n\t\t\t\t\t(24,325) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\t(4,829) \u00a0
\n\t\t\t\t\t568 \u00a0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\tThe Group does not expect to be able to utilise part of the tax losses within 3-5 years. Accordingly, no tax asset has been recognised in the consolidated balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Recognise \u00a0
\n\t\t\t\t\tLoss of \u00a0
\n\t\t\t\t\tForeign \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tin Income \u00a0
\n\t\t\t\t\tusability \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tStatement \u00a0
\n\t\t\t\t\tof tax losses \u00a0
\n\t\t\t\t\tadjustment Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t31.12.2021 \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t(18,697) \u00a0
\n\t\t\t\t\t(6,210) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(24,715) \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t(955) \u00a0
\n\t\t\t\t\t(231) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,186) \u00a0
\n\t\t\t\t\tOther payables etc \u00a0
\n\t\t\t\t\t177 \u00a0
\n\t\t\t\t\t88 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t265 \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t(19,475) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t29,704 \u00a0
\n\t\t\t\t\t751 \u00a0
\n\t\t\t\t\t(6,254) \u00a0
\n\t\t\t\t\t(61) \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t29,704 \u00a0
\n\t\t\t\t\t751 \u00a0
\n\t\t\t\t\t(6,254) \u00a0
\n\t\t\t\t\t(61) \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(29,704) \u00a0
\n\t\t\t\t\t(751) \u00a0
\n\t\t\t\t\t6,254 \u00a0
\n\t\t\t\t\t61 \u00a0
\n\t\t\t\t\t(24,140) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(19,475) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tThe Group does not expect to be able to utilise the tax losses within 3-5 years. Accordingly, no tax asset has been recognised in the consolidated balance sheet. \u00a0
7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX (CONTINUED) \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tThe current tax for the financial year has been calculated at a tax rate of 22.0%. \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCurrent tax \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in deferred tax \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tAdjustment of deferred tax relating to prior years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax on the profit/loss for the year may be specified as follows: \u00a0
\n\t\t\t\t\tProfit/(loss) before tax \u00a0
\n\t\t\t\t\t(3,383) \u00a0
\n\t\t\t\t\t(3,161) \u00a0
\n\t\t\t\t\tTax at a rate of 22.0% \u00a0
\n\t\t\t\t\t744 \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\t695 \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t(5) \u00a0
\n\t\t\t\t\t0.1% \u00a0
\n\t\t\t\t\t(29) \u00a0
\n\t\t\t\t\t0.9% \u00a0
\n\t\t\t\t\tValue adjustment of deferred tax \u00a0
\n\t\t\t\t\t(739) \u00a0
\n\t\t\t\t\t21.8% \u00a0
\n\t\t\t\t\t(666) \u00a0
\n\t\t\t\t\t21.1% \u00a0
\n\t\t\t\t\tEffective tax/tax rate for the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0.0% \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0.0% \u00a0
Recognised \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tin income \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tstatement Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2022 \u00a0
\n\t\t\t\t\t2022 31.12.2022 \u00a0
\n\t\t\t\t\tIntangible assets \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\tInventories \u00a0
\n\t\t\t\t\tOther payables etc. \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\t739 \u00a0
\n\t\t\t\t\t24,326 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\t739 \u00a0
\n\t\t\t\t\t24,326 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(23,587) \u00a0
\n\t\t\t\t\t(739) \u00a0
\n\t\t\t\t\t(24,326) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax losses are not expected to be utilised in full within a period of 3-5 years. Accordingly, no tax asset has been recognised in the parent company\u2019s balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Recognised \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tin income \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tstatement Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t31.12.2021 \u00a0
\n\t\t\t\t\tIntangible assets \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInventories \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther payables etc. \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t22,921 \u00a0
\n\t\t\t\t\t666 \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t22,921 \u00a0
\n\t\t\t\t\t666 \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(22,921) \u00a0
\n\t\t\t\t\t(666) \u00a0
\n\t\t\t\t\t(23,587) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax losses are not expected to be utilised in full within a period of 3-5 years. Accordingly, no tax asset has been recognised in the parent company\u2019s balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1818": {
"value": "Tax \u00a0
\n\t\t\t\t\tTax for the year, which consists of current tax and changes in deferred tax for \u00a0
\n\t\t\t\t\tthe year, is recognised in the income statement with respect to the portion \u00a0
\n\t\t\t\t\tattributable to the profit/loss for the year and directly in equity with respect \u00a0
\n\t\t\t\t\tto the portion attributable to entries directly in equity. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognised in the balance sheet as the \u00a0
\n\t\t\t\t\ttax calculated on the taxable income for the year, adjusted for tax paid on \u00a0
\n\t\t\t\t\taccount. \u00a0
\n\t\t\t\t\tThe calculation of the year\u2019s current tax is based on the tax rates and tax rules \u00a0
\n\t\t\t\t\tapplicable at the balance sheet date. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the tax rates and tax rules that, based on \u00a0
\n\t\t\t\t\tlegislation in force or in reality in force at the balance sheet date, are expected \u00a0
\n\t\t\t\t\tto apply in the respective countries when the deferred tax is expected to \u00a0
\n\t\t\t\t\tcrystallise as current tax. Changes in deferred tax as a result of changed tax \u00a0
\n\t\t\t\t\trates or rules are recognised in the income statement, unless the deferred tax \u00a0
\n\t\t\t\t\tcan be attributed to items previously recognised directly in equity. In the \u00a0
\n\t\t\t\t\tlatter case, the change is also recognised directly in equity. \u00a0
\n\t\t\t\t\tDeferred tax is measured using the balance sheet liability method on all \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not recognised on temporary \u00a0
\n\t\t\t\t\tdifferences relating to the initial recognition of goodwill or the initial \u00a0
\n\t\t\t\t\trecognition of a transaction, apart from business combinations, and where \u00a0
\n\t\t\t\t\tthe temporary difference existing at the date of initial recognition affects \u00a0
\n\t\t\t\t\tneither profit/loss for the year nor taxable income. \u00a0
\n\t\t\t\t\tDeferred tax is provided on temporary differences arising on investments in \u00a0
\n\t\t\t\t\tsubsidiaries and associates, unless the parent company is able to control \u00a0
\n\t\t\t\t\twhen the deferred tax is to be realised and it is likely that the deferred tax \u00a0
\n\t\t\t\t\twill not crystallise as current tax within the foreseeable future. \u00a0
\n\t\t\t\t\tDeferred tax is calculated based on the planned use of the individual asset \u00a0
\n\t\t\t\t\tand the settlement of the individual liability, respectively. \u00a0
\n\t\t\t\t\tDeferred tax assets, including the tax base of tax loss carry-forwards, are \u00a0
\n\t\t\t\t\trecognised in the balance sheet at the value at which the asset is expected to \u00a0
be realised, either through a set-off against deferred tax liabilities or as net \u00a0
\n\t\t\t\t\ttax assets to be offset against future positive taxable income. At each balance \u00a0
\n\t\t\t\t\tsheet date, an assessment is made as to whether it is likely that there will be \u00a0
\n\t\t\t\t\tsufficient future taxable income for the deferred tax asset to be utilised. \u00a0
7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tThe current tax for the financial year has been calculated at a tax rate of 22.0%. \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCurrent tax \u00a0
\n\t\t\t\t\t(901) \u00a0
\n\t\t\t\t\t(516) \u00a0
\n\t\t\t\t\tChange in deferred tax including change in value \u00a0
\n\t\t\t\t\t(4,823) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t(6) \u00a0
\n\t\t\t\t\t(29) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(5,730) \u00a0
\n\t\t\t\t\t(6,898) \u00a0
\n\t\t\t\t\tTax on the profit/loss for the year may be specified as follows: \u00a0
\n\t\t\t\t\tProfit/(loss) before tax \u00a0
\n\t\t\t\t\t27,858 \u00a0
\n\t\t\t\t\t33,159 \u00a0
\n\t\t\t\t\tTax at a rate of 22.0% \u00a0
\n\t\t\t\t\t(6,118) \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\t(7,295) \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\tEffect of different tax rate in foreign entities \u00a0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t3.4% \u00a0
\n\t\t\t\t\t1,095 \u00a0
\n\t\t\t\t\t3.3% \u00a0
\n\t\t\t\t\tTax base of non-deductible expenses and non-taxable income \u00a0
\n\t\t\t\t\t200 \u00a0
\n\t\t\t\t\t0.7% \u00a0
\n\t\t\t\t\t82 \u00a0
\n\t\t\t\t\t0.2% \u00a0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t(6) \u00a0
\n\t\t\t\t\t0.0% \u00a0
\n\t\t\t\t\t(29) \u00a0
\n\t\t\t\t\t(0.1%) \u00a0
\n\t\t\t\t\tValue adjustment of deferred tax \u00a0
\n\t\t\t\t\t(756) \u00a0
\n\t\t\t\t\t(2,7%) \u00a0
\n\t\t\t\t\t(751) \u00a0
\n\t\t\t\t\t(2.3%) \u00a0
\n\t\t\t\t\tEffective tax/tax rate for the year \u00a0
\n\t\t\t\t\t(5,730) \u00a0
\n\t\t\t\t\t(20.6%) \u00a0
\n\t\t\t\t\t(6,898) \u00a0
\n\t\t\t\t\t(20.8%) \u00a0
7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX (CONTINUED) \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tBreakdown of deferred tax for the Group stated in the balance sheet: \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDeferred tax liabilities, see balance sheet \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tDeferred tax, net \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tRecognise \u00a0
\n\t\t\t\t\tLoss of \u00a0
\n\t\t\t\t\tForeign \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tin Income \u00a0
\n\t\t\t\t\tusability \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tStatement \u00a0
\n\t\t\t\t\tof tax losses \u00a0
\n\t\t\t\t\tadjustment Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t31.12.2022 \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t(24,715) \u00a0
\n\t\t\t\t\t(4,469) \u00a0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(29,287) \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t(1,186) \u00a0
\n\t\t\t\t\t(321) \u00a0
\n\t\t\t\t\t(1,507) \u00a0
\n\t\t\t\t\tOther payables etc \u00a0
\n\t\t\t\t\t265 \u00a0
\n\t\t\t\t\t(33) \u00a0
\n\t\t\t\t\t232 \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\t(4,823) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(30,562) \u00a0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\t750 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t24,888 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\t750 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t24,888 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(24,140) \u00a0
\n\t\t\t\t\t(756) \u00a0
\n\t\t\t\t\t568 \u00a0
\n\t\t\t\t\t2
\n\t\t\t\t\t(24,325) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\t(4,829) \u00a0
\n\t\t\t\t\t568 \u00a0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\tThe Group does not expect to be able to utilise part of the tax losses within 3-5 years. Accordingly, no tax asset has been recognised in the consolidated balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Recognise \u00a0
\n\t\t\t\t\tLoss of \u00a0
\n\t\t\t\t\tForeign \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tin Income \u00a0
\n\t\t\t\t\tusability \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tStatement \u00a0
\n\t\t\t\t\tof tax losses \u00a0
\n\t\t\t\t\tadjustment Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t31.12.2021 \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t(18,697) \u00a0
\n\t\t\t\t\t(6,210) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(24,715) \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t(955) \u00a0
\n\t\t\t\t\t(231) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,186) \u00a0
\n\t\t\t\t\tOther payables etc \u00a0
\n\t\t\t\t\t177 \u00a0
\n\t\t\t\t\t88 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t265 \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t(19,475) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t29,704 \u00a0
\n\t\t\t\t\t751 \u00a0
\n\t\t\t\t\t(6,254) \u00a0
\n\t\t\t\t\t(61) \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t29,704 \u00a0
\n\t\t\t\t\t751 \u00a0
\n\t\t\t\t\t(6,254) \u00a0
\n\t\t\t\t\t(61) \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(29,704) \u00a0
\n\t\t\t\t\t(751) \u00a0
\n\t\t\t\t\t6,254 \u00a0
\n\t\t\t\t\t61 \u00a0
\n\t\t\t\t\t(24,140) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(19,475) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tThe Group does not expect to be able to utilise the tax losses within 3-5 years. Accordingly, no tax asset has been recognised in the consolidated balance sheet. \u00a0
7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX (CONTINUED) \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tThe current tax for the financial year has been calculated at a tax rate of 22.0%. \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCurrent tax \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in deferred tax \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tAdjustment of deferred tax relating to prior years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax on the profit/loss for the year may be specified as follows: \u00a0
\n\t\t\t\t\tProfit/(loss) before tax \u00a0
\n\t\t\t\t\t(3,383) \u00a0
\n\t\t\t\t\t(3,161) \u00a0
\n\t\t\t\t\tTax at a rate of 22.0% \u00a0
\n\t\t\t\t\t744 \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\t695 \u00a0
\n\t\t\t\t\t(22.0%) \u00a0
\n\t\t\t\t\tAdjustment of current tax relating to prior years \u00a0
\n\t\t\t\t\t(5) \u00a0
\n\t\t\t\t\t0.1% \u00a0
\n\t\t\t\t\t(29) \u00a0
\n\t\t\t\t\t0.9% \u00a0
\n\t\t\t\t\tValue adjustment of deferred tax \u00a0
\n\t\t\t\t\t(739) \u00a0
\n\t\t\t\t\t21.8% \u00a0
\n\t\t\t\t\t(666) \u00a0
\n\t\t\t\t\t21.1% \u00a0
\n\t\t\t\t\tEffective tax/tax rate for the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0.0% \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0.0% \u00a0
Recognised \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tin income \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tstatement Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2022 \u00a0
\n\t\t\t\t\t2022 31.12.2022 \u00a0
\n\t\t\t\t\tIntangible assets \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\tInventories \u00a0
\n\t\t\t\t\tOther payables etc. \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\t739 \u00a0
\n\t\t\t\t\t24,326 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\t739 \u00a0
\n\t\t\t\t\t24,326 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(23,587) \u00a0
\n\t\t\t\t\t(739) \u00a0
\n\t\t\t\t\t(24,326) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax losses are not expected to be utilised in full within a period of 3-5 years. Accordingly, no tax asset has been recognised in the parent company\u2019s balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Recognised \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tin income \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tstatement Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t31.12.2021 \u00a0
\n\t\t\t\t\tIntangible assets \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInventories \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther payables etc. \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t22,921 \u00a0
\n\t\t\t\t\t666 \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t22,921 \u00a0
\n\t\t\t\t\t666 \u00a0
\n\t\t\t\t\t23,587 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(22,921) \u00a0
\n\t\t\t\t\t(666) \u00a0
\n\t\t\t\t\t(23,587) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTax losses are not expected to be utilised in full within a period of 3-5 years. Accordingly, no tax asset has been recognised in the parent company\u2019s balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t2,200 \u00a0
\n\t\t\t\t\t1,727 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\tIntra-group receivables \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, current \u00a0
\n\t\t\t\t\t472 \u00a0
\n\t\t\t\t\t257 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, non-current \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t273 \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,648 \u00a0
\n\t\t\t\t\t1,518 \u00a0
\n\t\t\t\t\tLoans, advances and receivables \u00a0
\n\t\t\t\t\t10,177 \u00a0
\n\t\t\t\t\t18,461 \u00a0
\n\t\t\t\t\t30,635 \u00a0
\n\t\t\t\t\t27,366 \u00a0
\n\t\t\t\t\tDebt to subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, current \u00a0
\n\t\t\t\t\t815 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, non-current \u00a0
\n\t\t\t\t\t13,128 \u00a0
\n\t\t\t\t\t15,751 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther non-current liabilities \u00a0
\n\t\t\t\t\t3,263 \u00a0
\n\t\t\t\t\t2,173 \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tIncome tax payable \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\t32,856 \u00a0
\n\t\t\t\t\t29,342 \u00a0
\n\t\t\t\t\tFinancial liabilities \u00a0
\n\t\t\t\t\t20,612 \u00a0
\n\t\t\t\t\t23,814 \u00a0
\n\t\t\t\t\tFinance lease liabilities are measured at fair value, while other remaining liabilities are measured at amortised cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1802": {
"value": "Basis of consolidation \u00a0
\n\t\t\t\t\tThe consolidated financial statements are prepared on the basis of the \u00a0
\n\t\t\t\t\tfinancial statements of the parent company and those of the subsidiaries, \u00a0
\n\t\t\t\t\twhich are all prepared in accordance with the Group\u2019s accounting policies. \u00a0
\n\t\t\t\t\tOn consolidation, items of the same nature are aggregated and intra-group \u00a0
\n\t\t\t\t\tincome and expenses, intra-group balances and shareholdings are \u00a0
\n\t\t\t\t\teliminated. Unrealised gains and losses on transactions between \u00a0
\n\t\t\t\t\tconsolidated companies are also eliminated. \u00a0
\n\t\t\t\t\tFinancial statement items of subsidiaries are fully consolidated. The non- \u00a0
\n\t\t\t\t\tcontrolling interests\u2019 proportionate share of the profit/loss is included in the \u00a0
\n\t\t\t\t\tconsolidated profit/loss and comprehensive income for the year and as a \u00a0
\n\t\t\t\t\tseparate item under consolidated equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1803": {
"value": "Non-controlling interests \u00a0
\n\t\t\t\t\tOn initial recognition, non-controlling interests are either recognised at their \u00a0
\n\t\t\t\t\tfair value or at their pro-rata share of the fair value of the acquired company\u2019s \u00a0
\n\t\t\t\t\tidentifiable assets, liabilities and contingent liabilities. The choice of method \u00a0
\n\t\t\t\t\tis made individually for each transaction. The non-controlling interests are \u00a0
\n\t\t\t\t\tsubsequently adjusted for their proportionate share of changes to the equity \u00a0
\n\t\t\t\t\tof the subsidiary. The comprehensive income is allocated to the non- \u00a0
\n\t\t\t\t\tcontrolling interests irrespective of the non-controlling interest consequently \u00a0
\n\t\t\t\t\tbecoming negative. \u00a0
\n\t\t\t\t\tAcquisition or sale of non-controlling interests in a subsidiary not resulting in \u00a0
\n\t\t\t\t\tloss of controlling influence is recognised in the consolidated financial \u00a0
\n\t\t\t\t\tstatements as an equity transaction, and the difference between the \u00a0
\n\t\t\t\t\tremuneration and the carrying amount is allocated to the parent company\u2019s \u00a0
\n\t\t\t\t\tshare of equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1827": {
"value": "Revenue \u00a0
\n\t\t\t\t\tRevenue is measured as the fair value of the consideration received or \u00a0
\n\t\t\t\t\treceivable. If interest-free credit has been granted for payment of the \u00a0
\n\t\t\t\t\toutstanding consideration extending beyond the usual credit period, the fair \u00a0
\n\t\t\t\t\tvalue of the payment is calculated by discounting future payments. The \u00a0
\n\t\t\t\t\tdifference between the fair value and the nominal value of the consideration \u00a0
\n\t\t\t\t\tis recognised as financial income in the income statement over the extended \u00a0
\n\t\t\t\t\tcredit period by using the effective interest method. \u00a0
\n\t\t\t\t\tRevenue is stated exclusive of VAT, duties, discounts, etc. levied on behalf of \u00a0
\n\t\t\t\t\ta third party. \u00a0
\n\t\t\t\t\tFor leasing contracts that provide for rent exemptions, the effective rent for \u00a0
\n\t\t\t\t\tthe entire contract period is used. \u00a0
\n\t\t\t\t\tRevenues from the sale of real estate (residential units, commercial space, \u00a0
\n\t\t\t\t\tetc.) are recognised at the time when the real estate purchaser takes over \u00a0
\n\t\t\t\t\tcontrol of the real estate acquired and receives significant risks and rewards \u00a0
\n\t\t\t\t\tof ownership. According to the assessment of the management of the \u00a0
\n\t\t\t\t\tcompany, this takes place at the moment of handing over the real estate to \u00a0
\n\t\t\t\t\tthe buyer on the basis of the acceptance protocol signed by the parties, \u00a0
\n\t\t\t\t\tprovided that the buyer has made 100% payments towards the purchase \u00a0
\n\t\t\t\t\tprice of the real estate. \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1829": {
"value": "Revenue \u00a0
\n\t\t\t\t\tRevenue is measured as the fair value of the consideration received or \u00a0
\n\t\t\t\t\treceivable. If interest-free credit has been granted for payment of the \u00a0
\n\t\t\t\t\toutstanding consideration extending beyond the usual credit period, the fair \u00a0
\n\t\t\t\t\tvalue of the payment is calculated by discounting future payments. The \u00a0
\n\t\t\t\t\tdifference between the fair value and the nominal value of the consideration \u00a0
\n\t\t\t\t\tis recognised as financial income in the income statement over the extended \u00a0
\n\t\t\t\t\tcredit period by using the effective interest method. \u00a0
\n\t\t\t\t\tRevenue is stated exclusive of VAT, duties, discounts, etc. levied on behalf of \u00a0
\n\t\t\t\t\ta third party. \u00a0
\n\t\t\t\t\tFor leasing contracts that provide for rent exemptions, the effective rent for \u00a0
\n\t\t\t\t\tthe entire contract period is used. \u00a0
\n\t\t\t\t\tRevenues from the sale of real estate (residential units, commercial space, \u00a0
\n\t\t\t\t\tetc.) are recognised at the time when the real estate purchaser takes over \u00a0
\n\t\t\t\t\tcontrol of the real estate acquired and receives significant risks and rewards \u00a0
\n\t\t\t\t\tof ownership. According to the assessment of the management of the \u00a0
\n\t\t\t\t\tcompany, this takes place at the moment of handing over the real estate to \u00a0
\n\t\t\t\t\tthe buyer on the basis of the acceptance protocol signed by the parties, \u00a0
\n\t\t\t\t\tprovided that the buyer has made 100% payments towards the purchase \u00a0
\n\t\t\t\t\tprice of the real estate. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1862": {
"value": "Investments in subsidiaries \u00a0
\n\t\t\t\t\tOn initial recognition, investments in subsidiaries are measured at cost plus \u00a0
\n\t\t\t\t\ttransaction costs. Where the recoverable amount of the investments is lower \u00a0
\n\t\t\t\t\tthan cost, the investments are written down to this lower value. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1863": {
"value": "Investments in subsidiaries \u00a0
\n\t\t\t\t\tOn initial recognition, investments in subsidiaries are measured at cost plus \u00a0
\n\t\t\t\t\ttransaction costs. Where the recoverable amount of the investments is lower \u00a0
\n\t\t\t\t\tthan cost, the investments are written down to this lower value. \u00a0
Investments in subsidiaries \u00a0
\n\t\t\t\t\tInvestments in subsidiaries are recognised in the parent company's financial \u00a0
\n\t\t\t\t\tstatements at cost less any write-downs to the recoverable amount. \u00a0
10. INVESTMENTS
IN SUBSIDIARIES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t93,339 \u00a0
\n\t\t\t\t\t93,339 \u00a0
\n\t\t\t\t\tCost at 1 January \u00a0
\n\t\t\t\t\t93,339 \u00a0
\n\t\t\t\t\t93,339 \u00a0
\n\t\t\t\t\tValue at 31 December \u00a0
10. INVESTMENTS
IN SUBSIDIARIES (CONTINUED) \u00a0
\n\t\t\t\t\tShare of \u00a0
\n\t\t\t\t\tShare of \u00a0
\n\t\t\t\t\tInterest \u00a0
\n\t\t\t\t\tInterest \u00a0
\n\t\t\t\t\tvoting \u00a0
\n\t\t\t\t\tvoting \u00a0
\n\t\t\t\t\t(%) \u00a0
\n\t\t\t\t\t(%) \u00a0
\n\t\t\t\t\trights (%) \u00a0
\n\t\t\t\t\trights (%) \u00a0
\n\t\t\t\t\tDomicile \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tActivity \u00a0
\n\t\t\t\t\tOwnership \u00a0
\n\t\t\t\t\tshare in \u00a0
\n\t\t\t\t\tCeMat Real Estate S.A. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t100.00 \u00a0
\n\t\t\t\t\t100.00 \u00a0
\n\t\t\t\t\t100.00 \u00a0
\n\t\t\t\t\t100.00 \u00a0
\n\t\t\t\t\tCeMat '70 S.A. \u00a0
\n\t\t\t\t\tLetting of \u00a0
\n\t\t\t\t\tcommercial \u00a0
\n\t\t\t\t\tCeMat '70 S.A. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\tproperties \u00a0
\n\t\t\t\t\tHolding \u00a0
\n\t\t\t\t\tW133 Sp. z o.o. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\tof rights \u00a0
\n\t\t\t\t\tHolding \u00a0
\n\t\t\t\t\tW131 Sp. z o.o. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\tof rights \u00a0
\n\t\t\t\t\tHolding \u00a0
\n\t\t\t\t\tArkuszowa 56 Sp. z o.o. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\t93.28 \u00a0
\n\t\t\t\t\t93.15 \u00a0
\n\t\t\t\t\tof rights \u00a0
\n\t\t\t\t\tCeMat Real Estate S.A. holds the ownership interest in CeMat '70 S.A., while CeMat '70 S.A. holds the ownership interests in W133 Sp. z o.o., W131 Sp. z o.o. and \u00a0
\n\t\t\t\t\tArkuszowa 56 Sp. z o.o. \u00a0
2021 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLoans from subsidiaries \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t797 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,082 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t27,367 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tLoans \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t1,747 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,108 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t28,343 \u00a0
PARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\tSubsidiaries, loans receivable \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(64) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tSubsidiaries, creditor payable \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(30,559) \u00a0
\n\t\t\t\t\t(27,366) \u00a0
\n\t\t\t\t\tSubsidiaries, loans payable \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(29,282) \u00a0
\n\t\t\t\t\t(26,054) \u00a0
\n\t\t\t\t\tTotal outstanding amount \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1830": {
"value": "Cost of goods and services sold \u00a0
\n\t\t\t\t\tCost of goods and services sold comprise direct costs incurred in generating \u00a0
\n\t\t\t\t\tthe revenue. \u00a0
Other external expenses \u00a0
\n\t\t\t\t\tOther external expenses include premises maintenance costs, advertising \u00a0
\n\t\t\t\t\tcosts, administrative expenses, bad debts, etc. Other external expenses also \u00a0
\n\t\t\t\t\tcomprise costs of development projects that do not qualify for recognition in \u00a0
\n\t\t\t\t\tthe balance sheet. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1832": {
"value": "Cost of goods and services sold \u00a0
\n\t\t\t\t\tCost of goods and services sold comprise direct costs incurred in generating \u00a0
\n\t\t\t\t\tthe revenue. \u00a0
Other external expenses \u00a0
\n\t\t\t\t\tOther external expenses include premises maintenance costs, advertising \u00a0
\n\t\t\t\t\tcosts, administrative expenses, bad debts, etc. Other external expenses also \u00a0
\n\t\t\t\t\tcomprise costs of development projects that do not qualify for recognition in \u00a0
\n\t\t\t\t\tthe balance sheet. \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tDirect operating expenses arising from investment property \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses (including repairs and maintenance) arising from \u00a0
\n\t\t\t\t\t6,946 \u00a0
\n\t\t\t\t\t5,657 \u00a0
\n\t\t\t\t\tinvestment property that generated rental income during the period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses (including repairs and maintenance) arising from investment \u00a0
\n\t\t\t\t\t671 \u00a0
\n\t\t\t\t\t834 \u00a0
\n\t\t\t\t\tproperty that did not generate rental income during the period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses arising from investment property \u00a0
\n\t\t\t\t\t7,617 \u00a0
\n\t\t\t\t\t6,491 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1869": {
"value": "Inventory \u00a0
Finished products \u00a0
\n\t\t\t\t\tFinished products are mainly residential units and parking spaces. Finished \u00a0
\n\t\t\t\t\tproducts are valued at the lower of the two values: manufacturing cost and \u00a0
\n\t\t\t\t\tnet realisable value. The net realisable value is the estimated selling price \u00a0
\n\t\t\t\t\tassessed by the Management Board of the company based on market prices. \u00a0
\n\t\t\t\t\tWork in progress \u00a0
\n\t\t\t\t\tWork in progress is valued at the lower of the two values: purchase price / \u00a0
\n\t\t\t\t\tproduction cost / fair value at the moment of transfer from the investment \u00a0
\n\t\t\t\t\tproperty (land plots) and the net realisable value. In the event of any \u00a0
\n\t\t\t\t\tdiscrepancies, a write-down is made. With regard to the company's \u00a0
\n\t\t\t\t\tdevelopment projects, the necessity to make an impairment loss is assessed \u00a0
\n\t\t\t\t\ton the basis of the \"impairment test\" described below, based on an analysis \u00a0
\n\t\t\t\t\tof the production cost and the net realisable value. \u00a0
Inventory impairment test \u00a0
\n\t\t\t\t\tIf a development project is expected to generate a loss, it results in a write- \u00a0
\n\t\t\t\t\tdown of work in progress, which is immediately recognised in the profit and \u00a0
\n\t\t\t\t\tloss account. \u00a0
\n\t\t\t\t\tFor each development project, budgets are prepared that include both past \u00a0
\n\t\t\t\t\tand future cash flows for each implemented project. These budgets are \u00a0
\n\t\t\t\t\tupdated at least semi-annually. For the purposes of impairment testing, \u00a0
\n\t\t\t\t\tproject budgets include all past and projected net revenues less the direct \u00a0
\n\t\t\t\t\tcosts of land acquisition, design, construction and other costs related to \u00a0
\n\t\t\t\t\tproject preparation, demonstration premises and the on-site sales office. \u00a0
\n\t\t\t\t\tThese budgets are also encumbered with associated past and projected \u00a0
\n\t\t\t\t\tborrowing costs and projected customer claims (if applicable). Project \u00a0
\n\t\t\t\t\tbudgets are prepared using the principle of prudent valuation. If the margin \u00a0
\n\t\t\t\t\ton the project, calculated taking into account all revenues and the above- \u00a0
\n\t\t\t\t\tmentioned costs, is positive, then there is no need to create an inventory \u00a0
\n\t\t\t\t\timpairment write-down. A negative margin indicates a potential impairment \u00a0
\n\t\t\t\t\tproblem, which, after careful verification of cash flows for a given project, \u00a0
\n\t\t\t\t\tresults in the recognition of an inventory impairment loss in the amount of \u00a0
\n\t\t\t\t\tthe estimated negative value of this margin. \u00a0
\n\t\t\t\t\tThe revaluation write-off is recognised in the cost of sales in the item \u00a0
\n\t\t\t\t\t\"Adjustment of the value of inventories to the net realisable value\". A possible \u00a0
reversal of such an impairment loss for a given project is possible if the \u00a0
\n\t\t\t\t\texpected value of the margin on this project becomes positive. \u00a0
Transferring land plots from investment property to inventories \u00a0
\n\t\t\t\t\tInvestment property is transferred to inventory when the development \u00a0
\n\t\t\t\t\tprocess has been decided and initiated, a decision on the possible way of \u00a0
\n\t\t\t\t\tdeveloping the plot has been obtained, and expenses related to the project \u00a0
\n\t\t\t\t\thave already taken place. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1874": {
"value": "Inventory \u00a0
Finished products \u00a0
\n\t\t\t\t\tFinished products are mainly residential units and parking spaces. Finished \u00a0
\n\t\t\t\t\tproducts are valued at the lower of the two values: manufacturing cost and \u00a0
\n\t\t\t\t\tnet realisable value. The net realisable value is the estimated selling price \u00a0
\n\t\t\t\t\tassessed by the Management Board of the company based on market prices. \u00a0
\n\t\t\t\t\tWork in progress \u00a0
\n\t\t\t\t\tWork in progress is valued at the lower of the two values: purchase price / \u00a0
\n\t\t\t\t\tproduction cost / fair value at the moment of transfer from the investment \u00a0
\n\t\t\t\t\tproperty (land plots) and the net realisable value. In the event of any \u00a0
\n\t\t\t\t\tdiscrepancies, a write-down is made. With regard to the company's \u00a0
\n\t\t\t\t\tdevelopment projects, the necessity to make an impairment loss is assessed \u00a0
\n\t\t\t\t\ton the basis of the \"impairment test\" described below, based on an analysis \u00a0
\n\t\t\t\t\tof the production cost and the net realisable value. \u00a0
Inventory impairment test \u00a0
\n\t\t\t\t\tIf a development project is expected to generate a loss, it results in a write- \u00a0
\n\t\t\t\t\tdown of work in progress, which is immediately recognised in the profit and \u00a0
\n\t\t\t\t\tloss account. \u00a0
\n\t\t\t\t\tFor each development project, budgets are prepared that include both past \u00a0
\n\t\t\t\t\tand future cash flows for each implemented project. These budgets are \u00a0
\n\t\t\t\t\tupdated at least semi-annually. For the purposes of impairment testing, \u00a0
\n\t\t\t\t\tproject budgets include all past and projected net revenues less the direct \u00a0
\n\t\t\t\t\tcosts of land acquisition, design, construction and other costs related to \u00a0
\n\t\t\t\t\tproject preparation, demonstration premises and the on-site sales office. \u00a0
\n\t\t\t\t\tThese budgets are also encumbered with associated past and projected \u00a0
\n\t\t\t\t\tborrowing costs and projected customer claims (if applicable). Project \u00a0
\n\t\t\t\t\tbudgets are prepared using the principle of prudent valuation. If the margin \u00a0
\n\t\t\t\t\ton the project, calculated taking into account all revenues and the above- \u00a0
\n\t\t\t\t\tmentioned costs, is positive, then there is no need to create an inventory \u00a0
\n\t\t\t\t\timpairment write-down. A negative margin indicates a potential impairment \u00a0
\n\t\t\t\t\tproblem, which, after careful verification of cash flows for a given project, \u00a0
\n\t\t\t\t\tresults in the recognition of an inventory impairment loss in the amount of \u00a0
\n\t\t\t\t\tthe estimated negative value of this margin. \u00a0
\n\t\t\t\t\tThe revaluation write-off is recognised in the cost of sales in the item \u00a0
\n\t\t\t\t\t\"Adjustment of the value of inventories to the net realisable value\". A possible \u00a0
reversal of such an impairment loss for a given project is possible if the \u00a0
\n\t\t\t\t\texpected value of the margin on this project becomes positive. \u00a0
Transferring land plots from investment property to inventories \u00a0
\n\t\t\t\t\tInvestment property is transferred to inventory when the development \u00a0
\n\t\t\t\t\tprocess has been decided and initiated, a decision on the possible way of \u00a0
\n\t\t\t\t\tdeveloping the plot has been obtained, and expenses related to the project \u00a0
\n\t\t\t\t\thave already taken place. \u00a0
12. INVENTORIES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProperty under construction \u2013 land plot transferred from the investment property \u00a0
\n\t\t\t\t\t26,928 \u00a0
\n\t\t\t\t\t22,684 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther expenditures related to the development projects \u00a0
\n\t\t\t\t\t6,432 \u00a0
\n\t\t\t\t\t2,350 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t33,360 \u00a0
\n\t\t\t\t\t25,034 \u00a0
\n\t\t\t\t\tNo inventories are carried at fair value less costs to sell. There was not any write- down of inventories recognised as an expense in the period. There \u00a0
\n\t\t\t\t\twas not any reversal of a write-down to net realisable value. No inventories are pledged as security for liabilities. There was not any cost of \u00a0
\n\t\t\t\t\tinventories recognised as expense. \u00a0
Inventory recovery \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRecoverable within 12 months \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRecoverable after more than 12 months \u00a0
\n\t\t\t\t\t33,360 \u00a0
\n\t\t\t\t\t25,034 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t33,360 \u00a0
\n\t\t\t\t\t25,034 \u00a0
21. CHANGE
IN NET WORKING CAPITAL \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in receivables \u00a0
\n\t\t\t\t\t(688) \u00a0
\n\t\t\t\t\t(85) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in inventories (work in progress) \u00a0
\n\t\t\t\t\t(3,946) \u00a0
\n\t\t\t\t\t(3,090) \u00a0
\n\t\t\t\t\t320 \u00a0
\n\t\t\t\t\t(11) \u00a0
\n\t\t\t\t\tChange in trade payables and other payables \u00a0
\n\t\t\t\t\t(1,800) \u00a0
\n\t\t\t\t\t(182) \u00a0
\n\t\t\t\t\t320 \u00a0
\n\t\t\t\t\t(11) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(6,434) \u00a0
\n\t\t\t\t\t(3,357) \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1835": {
"value": "Staff costs \u00a0
\n\t\t\t\t\tStaff costs comprise wages and salaries and social security costs, pensions, \u00a0
\n\t\t\t\t\tshare-based payment, etc. to the employees of the Group. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1836": {
"value": "Staff costs \u00a0
\n\t\t\t\t\tStaff costs comprise wages and salaries and social security costs, pensions, \u00a0
\n\t\t\t\t\tshare-based payment, etc. to the employees of the Group. \u00a0
4. \u00a0
\n\t\t\t\t\tSTAFF COSTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\tDirectors' fees \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\tWages and salaries \u00a0
\n\t\t\t\t\t3,134 \u00a0
\n\t\t\t\t\t3,366 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tBonuses for Management Board \u00a0
\n\t\t\t\t\t324 \u00a0
\n\t\t\t\t\t299 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tPension contributions, defined contribution plans \u00a0
\n\t\t\t\t\t550 \u00a0
\n\t\t\t\t\t642 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther social security costs \u00a0
\n\t\t\t\t\t169 \u00a0
\n\t\t\t\t\t133 \u00a0
\n\t\t\t\t\t1,086 \u00a0
\n\t\t\t\t\t876 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t5,227 \u00a0
\n\t\t\t\t\t5,281 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t1
\n\t\t\t\t\tAverage number of full-time employees \u00a0
\n\t\t\t\t\t22 \u00a0
\n\t\t\t\t\t21 \u00a0
\n\t\t\t\t\tThe calculation of the average number of full-time employees (FTE) is based on the number of employees at the end of each month, not including members of the Board \u00a0
\n\t\t\t\t\tof Directors. For the purpose of the above table, the Management Board is understood as the CEO of CeMat A/S and theCEO and CFO of the subsidiary companies CeMat \u00a0
\n\t\t\t\t\t'70, CeMat Real Estate, W131, W133 and Arkuszowa 56. Additional remuneration of the CEO for consultancy services of DKK 859 thousand (2021: DKK 698 thousand) \u00a0
\n\t\t\t\t\trelated to development project or preparation of land plots for divestment or development is recognised as inventories (work in progress) or investment property and is \u00a0
\n\t\t\t\t\tnot included in the table above. \u00a0
\n\t\t\t\t\tCeMat has signed an annex which intends to a new performance-based remuneration system for CEO, contribute to business strategy, long-term interests and \u00a0
\n\t\t\t\t\tsustainability through the application of the long-term performance and development targets of the company. An additional bonus will be paid if the companies obtain a \u00a0
\n\t\t\t\t\tprofit from the sale of the properties in an amount exceeding the limit of PLN 103,500,000. This limit is based on the sale of undeveloped real estate and profits from the \u00a0
\n\t\t\t\t\tsale of developed real estate. \u00a0
Group and parent company \u00a0
\n\t\t\t\t\tRemuneration of Board of Directors and Management Board \u00a0
\n\t\t\t\t\tBoard of Directors \u00a0
\n\t\t\t\t\tManagement Board \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDirectors' fees \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tSalaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,468 \u00a0
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\tBonuses \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t324 \u00a0
\n\t\t\t\t\t299 \u00a0
\n\t\t\t\t\tPension contributions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t132 \u00a0
\n\t\t\t\t\t121 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\t1,924 \u00a0
\n\t\t\t\t\t1,640 \u00a0
\n\t\t\t\t\tThe fee to the Chairman of the Board of Directors for the current term amounts to DKK 500 thousand (2021: DKK 400 thousand), to the Deputy Chairman DKK \u00a0
\n\t\t\t\t\t350 thousand (2021: DKK 280 thousand) and to an ordinary member DKK 200 thousand (2021: DKK 160 thousand). For the purpose of the above table, the \u00a0
\n\t\t\t\t\tManagement Board is understood as the CEO of CeMat A/S and the CEO and CFO of the subsidiary companies CeMat '70, CeMat Real Estate, W131, W133 and \u00a0
\n\t\t\t\t\tArkuszowa 56. Additional remuneration of the CEO for consultancy services of DKK 859 thousand related to development project or preparation of land plots for \u00a0
\n\t\t\t\t\tdivestment or development recognised as inventories (work in progress) or investment property is included in the line \u201cSalaries\u201d in the table above. \u00a0
20. OTHER
PAYABLES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tWages and salaries, BoD fee, social security contributions, etc. payable \u00a0
\n\t\t\t\t\t1,587 \u00a0
\n\t\t\t\t\t1,356 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tHoliday pay obligation etc. \u00a0
\n\t\t\t\t\t230 \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tVAT and other indirect taxes payable \u00a0
\n\t\t\t\t\t(1,754) \u00a0
\n\t\t\t\t\t(160) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tCost provisions and other payables \u00a0
\n\t\t\t\t\t373 \u00a0
\n\t\t\t\t\t1,208 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\tThe carrying amount of payables in respect of payroll, Board of Directors fees, tax deducted at source, social security contributions, holiday pay etc., \u00a0
\n\t\t\t\t\tVAT and other indirect taxes and other payables corresponds to the fair value of these liabilities. Holiday pay obligations etc. represent the Group\u2019s \u00a0
\n\t\t\t\t\tobligation to pay wages and salaries during holidays in the next financial year, to which the employees have earned entitlement as at the balance \u00a0
\n\t\t\t\t\tsheet date. All items under other payables are expected to be settled within one year. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1840": {
"value": "Financial items \u00a0
\n\t\t\t\t\tFinancial items comprise interest income and expenses, the interest element \u00a0
\n\t\t\t\t\tof finance lease payments, realised and unrealised foreign exchange gains \u00a0
\n\t\t\t\t\tand losses as well as surcharges and allowances under the Danish tax \u00a0
\n\t\t\t\t\tprepayment scheme. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1841": {
"value": "Financial items \u00a0
\n\t\t\t\t\tFinancial items comprise interest income and expenses, the interest element \u00a0
\n\t\t\t\t\tof finance lease payments, realised and unrealised foreign exchange gains \u00a0
\n\t\t\t\t\tand losses as well as surcharges and allowances under the Danish tax \u00a0
\n\t\t\t\t\tprepayment scheme. \u00a0
5. \u00a0
\n\t\t\t\t\tFINANCIAL INCOME \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t53 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tInterest from group entities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInterest on bank deposits etc. \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\t53 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tInterest income \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\t468 \u00a0
\n\t\t\t\t\t216 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t521 \u00a0
\n\t\t\t\t\t271 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
28. RELATED
PARTY TRANSACTIONS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t54 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tSubsidiaries, interest income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,147 \u00a0
\n\t\t\t\t\t1,083 \u00a0
\n\t\t\t\t\tSubsidiaries, interest expenses \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,201 \u00a0
\n\t\t\t\t\t1,138 \u00a0
\n\t\t\t\t\tTotal transactions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther management remuneration etc. is stated separately in connection with note 4 \u201cStaff costs\u201d. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1844": {
"value": "Financial items \u00a0
\n\t\t\t\t\tFinancial items comprise interest income and expenses, the interest element \u00a0
\n\t\t\t\t\tof finance lease payments, realised and unrealised foreign exchange gains \u00a0
\n\t\t\t\t\tand losses as well as surcharges and allowances under the Danish tax \u00a0
\n\t\t\t\t\tprepayment scheme. \u00a0
28. RELATED
PARTY TRANSACTIONS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t54 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tSubsidiaries, interest income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,147 \u00a0
\n\t\t\t\t\t1,083 \u00a0
\n\t\t\t\t\tSubsidiaries, interest expenses \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,201 \u00a0
\n\t\t\t\t\t1,138 \u00a0
\n\t\t\t\t\tTotal transactions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther management remuneration etc. is stated separately in connection with note 4 \u201cStaff costs\u201d. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1882": {
"value": "Inventory impairment test \u00a0
\n\t\t\t\t\tIf a development project is expected to generate a loss, it results in a write- \u00a0
\n\t\t\t\t\tdown of work in progress, which is immediately recognised in the profit and \u00a0
\n\t\t\t\t\tloss account. \u00a0
\n\t\t\t\t\tFor each development project, budgets are prepared that include both past \u00a0
\n\t\t\t\t\tand future cash flows for each implemented project. These budgets are \u00a0
\n\t\t\t\t\tupdated at least semi-annually. For the purposes of impairment testing, \u00a0
\n\t\t\t\t\tproject budgets include all past and projected net revenues less the direct \u00a0
\n\t\t\t\t\tcosts of land acquisition, design, construction and other costs related to \u00a0
\n\t\t\t\t\tproject preparation, demonstration premises and the on-site sales office. \u00a0
\n\t\t\t\t\tThese budgets are also encumbered with associated past and projected \u00a0
\n\t\t\t\t\tborrowing costs and projected customer claims (if applicable). Project \u00a0
\n\t\t\t\t\tbudgets are prepared using the principle of prudent valuation. If the margin \u00a0
\n\t\t\t\t\ton the project, calculated taking into account all revenues and the above- \u00a0
\n\t\t\t\t\tmentioned costs, is positive, then there is no need to create an inventory \u00a0
\n\t\t\t\t\timpairment write-down. A negative margin indicates a potential impairment \u00a0
\n\t\t\t\t\tproblem, which, after careful verification of cash flows for a given project, \u00a0
\n\t\t\t\t\tresults in the recognition of an inventory impairment loss in the amount of \u00a0
\n\t\t\t\t\tthe estimated negative value of this margin. \u00a0
\n\t\t\t\t\tThe revaluation write-off is recognised in the cost of sales in the item \u00a0
\n\t\t\t\t\t\"Adjustment of the value of inventories to the net realisable value\". A possible \u00a0
reversal of such an impairment loss for a given project is possible if the \u00a0
\n\t\t\t\t\texpected value of the margin on this project becomes positive. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1846": {
"value": "Investment property \u00a0
\n\t\t\t\t\tInvestment property comprises properties owned for the purpose of \u00a0
\n\t\t\t\t\treceiving rent or obtaining capital gains. \u00a0
\n\t\t\t\t\tOn initial recognition, investment property is measured at cost, comprising \u00a0
\n\t\t\t\t\tthe purchase price and any costs directly attributable to the acquisition. \u00a0
\n\t\t\t\t\tSubsequently, investment property is measured at fair value, representing \u00a0
\n\t\t\t\t\tthe price at which it is estimated that the property can be sold to an \u00a0
\n\t\t\t\t\tindependent buyer at the balance sheet date. \u00a0
\n\t\t\t\t\tInvestment property is divided into four groups: Internal roads; plots \u00a0
\n\t\t\t\t\tdesigned for external
roads; development areas; and industrial buildings. \u00a0
\n\t\t\t\t\tInternal roads; plots designed for external roads; and development areas (in \u00a0
\n\t\t\t\t\tthe following referred to as \u201cproperties\u201d) are valued using a comparative \u00a0
\n\t\t\t\t\tapproach. This approach assumes the variation in prices between at least \u00a0
\n\t\t\t\t\tthree comparable properties can be explained by the differences in their \u00a0
individual attributes such as location, surroundings, accessibility, \u00a0
\n\t\t\t\t\tdevelopment potential etc. The influence of each of these attributes on value \u00a0
\n\t\t\t\t\tis assigned a percentage weighting, and the characteristics of each \u00a0
\n\t\t\t\t\tcomparable and the subject are then rated, typically from 1-5, very good to \u00a0
\n\t\t\t\t\tvery poor. The price of each comparable is adjusted according to how it differs \u00a0
\n\t\t\t\t\tfrom the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on \u00a0
\n\t\t\t\t\tnormal earnings. Income from each lessee is expected to be generated for as \u00a0
\n\t\t\t\t\tlong as the lease is in force or until the first time it may be terminated if \u00a0
\n\t\t\t\t\tconsidered advantageous. Thereafter, income is expected to continue to be \u00a0
\n\t\t\t\t\tgenerated at market rent. Adjustments are made for lost rental income, \u00a0
\n\t\t\t\t\tfitting-out deposits and un-obtainable running costs. \u00a0
\n\t\t\t\t\tThe required rates of return having been set are an important input in \u00a0
\n\t\t\t\t\testimating the fair values. The required rate of return used ranges from 12.3% \u00a0
\n\t\t\t\t\tto 13.0%. \u00a0
\n\t\t\t\t\tAs regards properties where claims as to title have not yet been \u00a0
\n\t\t\t\t\taccommodated, the value is further reduced by 20% due to the risk that such \u00a0
\n\t\t\t\t\tclaims will be accommodated and due to the expenses associated with this \u00a0
\n\t\t\t\t\ttransitional phase. \u00a0
\n\t\t\t\t\tAdjustments of the fair value of investment property are recognised in profit \u00a0
\n\t\t\t\t\tor loss in the financial year in which the change occurred. \u00a0
Transferring land plots from investment property to inventories \u00a0
\n\t\t\t\t\tInvestment property is transferred to inventory when the development \u00a0
\n\t\t\t\t\tprocess has been decided and initiated, a decision on the possible way of \u00a0
\n\t\t\t\t\tdeveloping the plot has been obtained, and expenses related to the project \u00a0
\n\t\t\t\t\thave already taken place. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1849": {
"value": "Investment property \u00a0
\n\t\t\t\t\tInvestment property comprises properties owned for the purpose of \u00a0
\n\t\t\t\t\treceiving rent or obtaining capital gains. \u00a0
\n\t\t\t\t\tOn initial recognition, investment property is measured at cost, comprising \u00a0
\n\t\t\t\t\tthe purchase price and any costs directly attributable to the acquisition. \u00a0
\n\t\t\t\t\tSubsequently, investment property is measured at fair value, representing \u00a0
\n\t\t\t\t\tthe price at which it is estimated that the property can be sold to an \u00a0
\n\t\t\t\t\tindependent buyer at the balance sheet date. \u00a0
\n\t\t\t\t\tInvestment property is divided into four groups: Internal roads; plots \u00a0
\n\t\t\t\t\tdesigned for external
roads; development areas; and industrial buildings. \u00a0
\n\t\t\t\t\tInternal roads; plots designed for external roads; and development areas (in \u00a0
\n\t\t\t\t\tthe following referred to as \u201cproperties\u201d) are valued using a comparative \u00a0
\n\t\t\t\t\tapproach. This approach assumes the variation in prices between at least \u00a0
\n\t\t\t\t\tthree comparable properties can be explained by the differences in their \u00a0
individual attributes such as location, surroundings, accessibility, \u00a0
\n\t\t\t\t\tdevelopment potential etc. The influence of each of these attributes on value \u00a0
\n\t\t\t\t\tis assigned a percentage weighting, and the characteristics of each \u00a0
\n\t\t\t\t\tcomparable and the subject are then rated, typically from 1-5, very good to \u00a0
\n\t\t\t\t\tvery poor. The price of each comparable is adjusted according to how it differs \u00a0
\n\t\t\t\t\tfrom the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on \u00a0
\n\t\t\t\t\tnormal earnings. Income from each lessee is expected to be generated for as \u00a0
\n\t\t\t\t\tlong as the lease is in force or until the first time it may be terminated if \u00a0
\n\t\t\t\t\tconsidered advantageous. Thereafter, income is expected to continue to be \u00a0
\n\t\t\t\t\tgenerated at market rent. Adjustments are made for lost rental income, \u00a0
\n\t\t\t\t\tfitting-out deposits and un-obtainable running costs. \u00a0
\n\t\t\t\t\tThe required rates of return having been set are an important input in \u00a0
\n\t\t\t\t\testimating the fair values. The required rate of return used ranges from 12.3% \u00a0
\n\t\t\t\t\tto 13.0%. \u00a0
\n\t\t\t\t\tAs regards properties where claims as to title have not yet been \u00a0
\n\t\t\t\t\taccommodated, the value is further reduced by 20% due to the risk that such \u00a0
\n\t\t\t\t\tclaims will be accommodated and due to the expenses associated with this \u00a0
\n\t\t\t\t\ttransitional phase. \u00a0
\n\t\t\t\t\tAdjustments of the fair value of investment property are recognised in profit \u00a0
\n\t\t\t\t\tor loss in the financial year in which the change occurred. \u00a0
Transferring land plots from investment property to inventories \u00a0
\n\t\t\t\t\tInvestment property is transferred to inventory when the development \u00a0
\n\t\t\t\t\tprocess has been decided and initiated, a decision on the possible way of \u00a0
\n\t\t\t\t\tdeveloping the plot has been obtained, and expenses related to the project \u00a0
\n\t\t\t\t\thave already taken place. \u00a0
Measurement of investment property \u00a0
\n\t\t\t\t\tThe Group\u2019s investment property is measured at its estimated fair value in \u00a0
\n\t\t\t\t\taccordance with IAS 40 and IFRS 13, and any value adjustments are \u00a0
\n\t\t\t\t\trecognised in the income statement. Management has reviewed the updated \u00a0
\n\t\t\t\t\tvaluation report received in December 2022 and its underlying assumptions. \u00a0
\n\t\t\t\t\tManagement\u2019s valuation estimate is in line with that indicated in the report, \u00a0
\n\t\t\t\t\tand the fair value consequently reflects the value stated in the report. \u00a0
\n\t\t\t\t\tAs the property market is not in all respects as efficient and liquid as, for \u00a0
\n\t\t\t\t\texample, the equity market, there can be no assurance that a buyer willing to \u00a0
\n\t\t\t\t\tpay the fair value at which the property is stated in the financial statements \u00a0
\n\t\t\t\t\tcan be found at any given time. In other words, properties are subject to a \u00a0
\n\t\t\t\t\tliquidity risk in a sales situation. \u00a0
Tax asset utilisation \u00a0
\n\t\t\t\t\tDeferred tax assets are recognised for all unutilised tax losses and differences \u00a0
\n\t\t\t\t\tto the extent it is considered likely that they can be utilised through taxable \u00a0
\n\t\t\t\t\tincome within a foreseeable number of years. \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2022 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(2,252) \u00a0
\n\t\t\t\t\t(299) \u00a0
\n\t\t\t\t\t(2,551) \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t(302) \u00a0
\n\t\t\t\t\t(2,554) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(4,655)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\tShortening the leasing period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t25,277 \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2022 \u00a0
\n\t\t\t\t\t144,029 \u00a0
\n\t\t\t\t\t13,825 \u00a0
\n\t\t\t\t\t157,854 \u00a0
\n\t\t\t\t\t117 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
2021 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2021 \u00a0
\n\t\t\t\t\t112,833 \u00a0
\n\t\t\t\t\t13,808 \u00a0
\n\t\t\t\t\t126,641 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t13,863 \u00a0
\n\t\t\t\t\t126,696 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(1,480) \u00a0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t153 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(22,684)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t30,723 \u00a0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2021 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
The Polish properties have an assessed value of DKK 157,971 thousand, of which DKK 143,889 thousand is the real estate in Warsaw, DKK 140 thousand is a \u00a0
\n\t\t\t\t\tland plot in Blichowo and DKK 13,942 thousand is right of use resulting from the application of IFRS 16. The value of the real estate in Warsaw is supported by \u00a0
\n\t\t\t\t\tan external valuation report received in December 2022, prepared by a leading international estate agent in Warsaw. The value of the land plot in Blichowo has \u00a0
\n\t\t\t\t\tbeen assessed by the company\u2019s management using a comparative method. \u00a0
\n\t\t\t\t\tThe value of the real estate in Warsaw represents the estate agent\u2019s assessment of the current fair value. In addition to the general price level in the market, \u00a0
\n\t\t\t\t\tthe assessment is based on these main assumptions: the present use of the property, the state of the buildings, the percentage of ownership, the income \u00a0
\n\t\t\t\t\tgenerated by the property and the zoning of the area. Any changes to these, particularly the percentage of ownership (i.e. the positive or negative resolution \u00a0
\n\t\t\t\t\tof former owners\u2019 claims), changes in zoning (e.g. to residential) and the general price development of similar properties in the area, could favourably or \u00a0
\n\t\t\t\t\tadversely impact the property valuation. \u00a0
\n\t\t\t\t\tFor the valuation purposes, the property was divided into four groups: internal roads, industrial schemes (buildings), development land and plots designated \u00a0
\n\t\t\t\t\tfor external roads. \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of internal roads, development land and external roads, a comparative approach has been used whereby recent sales are used \u00a0
\n\t\t\t\t\tto determine the likely value of the subject. This approach assumes that the variation in prices between at least three comparable properties can be explained \u00a0
\n\t\t\t\t\tby differences in their individual attributes such as location, surroundings, accessibility, development potential, etc. The influence of each of these attributes \u00a0
\n\t\t\t\t\ton the value is assigned a percentage weighting, and the characteristics of each comparable and the subject are then rated, typically from 1 \u2013 5, from very good \u00a0
\n\t\t\t\t\tto very poor. The price of each comparable is adjusted according to how it differs from the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on normal earnings. Income from each lessee is expected to be generated for as long \u00a0
\n\t\t\t\t\tas the lease is in force or until the first time it may be terminated if considered advantageous. Thereafter, income is expected to continue to be generated at \u00a0
\n\t\t\t\t\tmarket rent. Adjustments are made for lost rental income, fitting-out deposits and unobtainable running costs. Market rents applied range from DKK 55.6 per \u00a0
\n\t\t\t\t\tsqm for warehouses, to DKK 62.4 per sqm for offices and DKK 79.4 per sqm for self-storage boxes \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of the industrial buildings, an equivalent yield approach has been used. An equivalent yield is defined in the Glossary of Property \u00a0
\n\t\t\t\t\tTerms (2nd edition), published by Estates Gazette, as \u201cthe constant capitalisation rate applied to all cash flows, that is, the internal rate of return from an \u00a0
\n\t\t\t\t\t69 \u00a0
investment property reflecting reversions to current market rent, and such items as voids and expenditures, but disregarding potential changes in market rents. \u00a0
\n\t\t\t\t\tConventionally calculated on a nominal basis, assuming that rents are receivable/payable annually in arrears\u201d. \u00a0
\n\t\t\t\t\tThe required rates of return which have been set are an important factor in estimating the fair values. An equivalent yield of between 10.9% and 11.55% was \u00a0
\n\t\t\t\t\tadopted, which reflects the risks associated with a normal ownership or usufruct interest property including open-ended lease agreements and the physical \u00a0
\n\t\t\t\t\tstate of the particular buildings. Using the equivalent yields mentioned above, a value of the subject was obtained reflecting an initial yield of between 9.79% \u00a0
\n\t\t\t\t\tand 13.47% and a final yield of between 12.06% and 12.99%. \u00a0
Other assumptions: \u00a0
\n\t\t\t\t\tShort-term leases: assumed to expire after their notice periods \u00a0
\n\t\t\t\t\tLetting voids: 24 months for offices / 12 for warehouse & production space \u00a0
\n\t\t\t\t\tReletting voids: 10 months for offices / 5 for warehouse & production space \u00a0
\n\t\t\t\t\tNo fit-out contributions \u00a0
\n\t\t\t\t\tLetting fees: 16.5% \u00a0
\n\t\t\t\t\tNo rent-free periods and empty service charge \u00a0
\n\t\t\t\t\tIrrecoverable operating costs DKK 6.7 million (including property tax, perpetual usufruct fee, security, insurance, cost of the utilities based on the operating \u00a0
\n\t\t\t\t\tcost budget, plus management fee of 2% of market rent) \u00a0
\n\t\t\t\t\tCapital expenditure of DKK 3.7 million \u00a0
\n\t\t\t\t\tIn the case of properties for which the company is not entered in the land and mortgage register as a perpetual usufructuary or owner due to claims or \u00a0
\n\t\t\t\t\tprotracted administrative proceedings, the value is further reduced by 20% due to the risk that such claims will be accommodated and due to the expenses \u00a0
\n\t\t\t\t\tassociated with the transitional phase. \u00a0
Fair value hierarchy information \u00a0
\n\t\t\t\t\tLevel 1 \u00a0
\n\t\t\t\t\tLevel 2 \u00a0
\n\t\t\t\t\tLevel 3 \u00a0
\n\t\t\t\t\tat 31/12 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t137,322 \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
12. INVENTORIES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProperty under construction \u2013 land plot transferred from the investment property \u00a0
\n\t\t\t\t\t26,928 \u00a0
\n\t\t\t\t\t22,684 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther expenditures related to the development projects \u00a0
\n\t\t\t\t\t6,432 \u00a0
\n\t\t\t\t\t2,350 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t33,360 \u00a0
\n\t\t\t\t\t25,034 \u00a0
\n\t\t\t\t\tNo inventories are carried at fair value less costs to sell. There was not any write- down of inventories recognised as an expense in the period. There \u00a0
\n\t\t\t\t\twas not any reversal of a write-down to net realisable value. No inventories are pledged as security for liabilities. There was not any cost of \u00a0
\n\t\t\t\t\tinventories recognised as expense. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentPropertyExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1919": {
"value": "CASH FLOW STATEMENT \u00a0
\n\t\t\t\t\tThe consolidated cash flow statement is presented according to the indirect \u00a0
\n\t\t\t\t\tmethod and shows cash flows from operating, investing and financing \u00a0
\n\t\t\t\t\tactivities as well as cash and cash equivalents at the beginning and the end of \u00a0
\n\t\t\t\t\tthe year. \u00a0
\n\t\t\t\t\tThe cash effect of acquisitions and divestments of entities is shown separately \u00a0
\n\t\t\t\t\tunder cash flows from investing activities. Cash flows from the acquisition of \u00a0
\n\t\t\t\t\tentities are recognised in the cash flow statement from the date of \u00a0
\n\t\t\t\t\tacquisition. Cash flows from the disposal of entities are recognised up to the \u00a0
\n\t\t\t\t\tdate of disposal. \u00a0
\n\t\t\t\t\tCash flows from operating activities are presented according to the indirect \u00a0
\n\t\t\t\t\tmethod and stated as operating profit, adjusted for non-cash operating items \u00a0
\n\t\t\t\t\tand changes in working capital and financial income and expenses, less the \u00a0
\n\t\t\t\t\tincome tax paid during the financial year attributable to operating activities. \u00a0
\n\t\t\t\t\tCash flows from investing activities comprise payments related to the \u00a0
\n\t\t\t\t\tpurchase and sale of financial assets, including non-current prepayments for \u00a0
\n\t\t\t\t\tgoods, subsidiaries as well as the purchase, development, improvement, sale, \u00a0
\n\t\t\t\t\tetc. of intangible assets and property, plant and equipment. \u00a0
\n\t\t\t\t\tCash flows from financing activities comprise changes in the size or the \u00a0
\n\t\t\t\t\tcomposition of the parent company\u2019s share capital and related costs as well \u00a0
\n\t\t\t\t\tas the raising and repayment of loans, cash deposits, instalments on interest- \u00a0
\n\t\t\t\t\tbearing debt, acquisition of treasury shares and payment of dividends. \u00a0
\n\t\t\t\t\tFurthermore, cash flows regarding assets held under finance leases in the \u00a0
\n\t\t\t\t\tform of lease payments made are recognised. \u00a0
\n\t\t\t\t\tCash and cash equivalents comprise cash deposits. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1920": {
"value": "CASH FLOW STATEMENT \u00a0
\n\t\t\t\t\tThe consolidated cash flow statement is presented according to the indirect \u00a0
\n\t\t\t\t\tmethod and shows cash flows from operating, investing and financing \u00a0
\n\t\t\t\t\tactivities as well as cash and cash equivalents at the beginning and the end of \u00a0
\n\t\t\t\t\tthe year. \u00a0
\n\t\t\t\t\tThe cash effect of acquisitions and divestments of entities is shown separately \u00a0
\n\t\t\t\t\tunder cash flows from investing activities. Cash flows from the acquisition of \u00a0
\n\t\t\t\t\tentities are recognised in the cash flow statement from the date of \u00a0
\n\t\t\t\t\tacquisition. Cash flows from the disposal of entities are recognised up to the \u00a0
\n\t\t\t\t\tdate of disposal. \u00a0
\n\t\t\t\t\tCash flows from operating activities are presented according to the indirect \u00a0
\n\t\t\t\t\tmethod and stated as operating profit, adjusted for non-cash operating items \u00a0
\n\t\t\t\t\tand changes in working capital and financial income and expenses, less the \u00a0
\n\t\t\t\t\tincome tax paid during the financial year attributable to operating activities. \u00a0
\n\t\t\t\t\tCash flows from investing activities comprise payments related to the \u00a0
\n\t\t\t\t\tpurchase and sale of financial assets, including non-current prepayments for \u00a0
\n\t\t\t\t\tgoods, subsidiaries as well as the purchase, development, improvement, sale, \u00a0
\n\t\t\t\t\tetc. of intangible assets and property, plant and equipment. \u00a0
\n\t\t\t\t\tCash flows from financing activities comprise changes in the size or the \u00a0
\n\t\t\t\t\tcomposition of the parent company\u2019s share capital and related costs as well \u00a0
\n\t\t\t\t\tas the raising and repayment of loans, cash deposits, instalments on interest- \u00a0
\n\t\t\t\t\tbearing debt, acquisition of treasury shares and payment of dividends. \u00a0
\n\t\t\t\t\tFurthermore, cash flows regarding assets held under finance leases in the \u00a0
\n\t\t\t\t\tform of lease payments made are recognised. \u00a0
\n\t\t\t\t\tCash and cash equivalents comprise cash deposits. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1884": {
"value": "Receivables \u00a0
\n\t\t\t\t\tReceivables comprise non-current deposits in connection with the purchase \u00a0
\n\t\t\t\t\tand sale of goods and receivables from sale of goods and services. Receivables \u00a0
\n\t\t\t\t\tare classified as loans and receivables, which are financial assets with fixed or \u00a0
\n\t\t\t\t\tdeterminable payments that are not quoted in an active market and are not \u00a0
\n\t\t\t\t\tderivative financial instruments. \u00a0
\n\t\t\t\t\tOn initial recognition, receivables are measured at fair value and \u00a0
\n\t\t\t\t\tsubsequently at amortised cost, which usually corresponds to the nominal \u00a0
\n\t\t\t\t\tvalue less write-downs for bad debts. \u00a0
\n\t\t\t\t\tThe Group applies the IFRS 9 simplified approach to measuring expected \u00a0
\n\t\t\t\t\tcredit losses which uses a lifetime expected loss allowance for all trade \u00a0
\n\t\t\t\t\treceivables. To measure the expected credit losses, trade receivables have \u00a0
\n\t\t\t\t\tbeen grouped based on shared credit risk characteristics and the days past \u00a0
\n\t\t\t\t\tdue. The expected loss rates are based on the payment profiles of sales over \u00a0
\n\t\t\t\t\ta period of 36 months before 31 December 2021 or 1 January 2021 \u00a0
\n\t\t\t\t\trespectively and the corresponding historical credit losses experienced within \u00a0
\n\t\t\t\t\tthis period. The historical loss rates are adjusted to reflect current and \u00a0
\n\t\t\t\t\tforward-looking information on macroeconomic factors affecting the ability \u00a0
\n\t\t\t\t\tof the customers to settle the receivables. The group has identified the GDP \u00a0
\n\t\t\t\t\tand the unemployment rate of the countries in which it sells its goods and \u00a0
\n\t\t\t\t\tservices to be the most relevant factors, and accordingly adjusts the historical \u00a0
\n\t\t\t\t\tloss rates based on expected changes in these factors. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1885": {
"value": "Receivables \u00a0
\n\t\t\t\t\tReceivables comprise non-current deposits in connection with the purchase \u00a0
\n\t\t\t\t\tand sale of goods and receivables from sale of goods and services. Receivables \u00a0
\n\t\t\t\t\tare classified as loans and receivables, which are financial assets with fixed or \u00a0
\n\t\t\t\t\tdeterminable payments that are not quoted in an active market and are not \u00a0
\n\t\t\t\t\tderivative financial instruments. \u00a0
\n\t\t\t\t\tOn initial recognition, receivables are measured at fair value and \u00a0
\n\t\t\t\t\tsubsequently at amortised cost, which usually corresponds to the nominal \u00a0
\n\t\t\t\t\tvalue less write-downs for bad debts. \u00a0
\n\t\t\t\t\tThe Group applies the IFRS 9 simplified approach to measuring expected \u00a0
\n\t\t\t\t\tcredit losses which uses a lifetime expected loss allowance for all trade \u00a0
\n\t\t\t\t\treceivables. To measure the expected credit losses, trade receivables have \u00a0
\n\t\t\t\t\tbeen grouped based on shared credit risk characteristics and the days past \u00a0
\n\t\t\t\t\tdue. The expected loss rates are based on the payment profiles of sales over \u00a0
\n\t\t\t\t\ta period of 36 months before 31 December 2021 or 1 January 2021 \u00a0
\n\t\t\t\t\trespectively and the corresponding historical credit losses experienced within \u00a0
\n\t\t\t\t\tthis period. The historical loss rates are adjusted to reflect current and \u00a0
\n\t\t\t\t\tforward-looking information on macroeconomic factors affecting the ability \u00a0
\n\t\t\t\t\tof the customers to settle the receivables. The group has identified the GDP \u00a0
\n\t\t\t\t\tand the unemployment rate of the countries in which it sells its goods and \u00a0
\n\t\t\t\t\tservices to be the most relevant factors, and accordingly adjusts the historical \u00a0
\n\t\t\t\t\tloss rates based on expected changes in these factors. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1886": {
"value": "Receivables \u00a0
\n\t\t\t\t\tReceivables comprise non-current deposits in connection with the purchase \u00a0
\n\t\t\t\t\tand sale of goods and receivables from sale of goods and services. Receivables \u00a0
\n\t\t\t\t\tare classified as loans and receivables, which are financial assets with fixed or \u00a0
\n\t\t\t\t\tdeterminable payments that are not quoted in an active market and are not \u00a0
\n\t\t\t\t\tderivative financial instruments. \u00a0
\n\t\t\t\t\tOn initial recognition, receivables are measured at fair value and \u00a0
\n\t\t\t\t\tsubsequently at amortised cost, which usually corresponds to the nominal \u00a0
\n\t\t\t\t\tvalue less write-downs for bad debts. \u00a0
\n\t\t\t\t\tThe Group applies the IFRS 9 simplified approach to measuring expected \u00a0
\n\t\t\t\t\tcredit losses which uses a lifetime expected loss allowance for all trade \u00a0
\n\t\t\t\t\treceivables. To measure the expected credit losses, trade receivables have \u00a0
\n\t\t\t\t\tbeen grouped based on shared credit risk characteristics and the days past \u00a0
\n\t\t\t\t\tdue. The expected loss rates are based on the payment profiles of sales over \u00a0
\n\t\t\t\t\ta period of 36 months before 31 December 2021 or 1 January 2021 \u00a0
\n\t\t\t\t\trespectively and the corresponding historical credit losses experienced within \u00a0
\n\t\t\t\t\tthis period. The historical loss rates are adjusted to reflect current and \u00a0
\n\t\t\t\t\tforward-looking information on macroeconomic factors affecting the ability \u00a0
\n\t\t\t\t\tof the customers to settle the receivables. The group has identified the GDP \u00a0
\n\t\t\t\t\tand the unemployment rate of the countries in which it sells its goods and \u00a0
\n\t\t\t\t\tservices to be the most relevant factors, and accordingly adjusts the historical \u00a0
\n\t\t\t\t\tloss rates based on expected changes in these factors. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1887": {
"value": "Receivables \u00a0
\n\t\t\t\t\tReceivables comprise non-current deposits in connection with the purchase \u00a0
\n\t\t\t\t\tand sale of goods and receivables from sale of goods and services. Receivables \u00a0
\n\t\t\t\t\tare classified as loans and receivables, which are financial assets with fixed or \u00a0
\n\t\t\t\t\tdeterminable payments that are not quoted in an active market and are not \u00a0
\n\t\t\t\t\tderivative financial instruments. \u00a0
\n\t\t\t\t\tOn initial recognition, receivables are measured at fair value and \u00a0
\n\t\t\t\t\tsubsequently at amortised cost, which usually corresponds to the nominal \u00a0
\n\t\t\t\t\tvalue less write-downs for bad debts. \u00a0
\n\t\t\t\t\tThe Group applies the IFRS 9 simplified approach to measuring expected \u00a0
\n\t\t\t\t\tcredit losses which uses a lifetime expected loss allowance for all trade \u00a0
\n\t\t\t\t\treceivables. To measure the expected credit losses, trade receivables have \u00a0
\n\t\t\t\t\tbeen grouped based on shared credit risk characteristics and the days past \u00a0
\n\t\t\t\t\tdue. The expected loss rates are based on the payment profiles of sales over \u00a0
\n\t\t\t\t\ta period of 36 months before 31 December 2021 or 1 January 2021 \u00a0
\n\t\t\t\t\trespectively and the corresponding historical credit losses experienced within \u00a0
\n\t\t\t\t\tthis period. The historical loss rates are adjusted to reflect current and \u00a0
\n\t\t\t\t\tforward-looking information on macroeconomic factors affecting the ability \u00a0
\n\t\t\t\t\tof the customers to settle the receivables. The group has identified the GDP \u00a0
\n\t\t\t\t\tand the unemployment rate of the countries in which it sells its goods and \u00a0
\n\t\t\t\t\tservices to be the most relevant factors, and accordingly adjusts the historical \u00a0
\n\t\t\t\t\tloss rates based on expected changes in these factors. \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2022 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(2,252) \u00a0
\n\t\t\t\t\t(299) \u00a0
\n\t\t\t\t\t(2,551) \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t(302) \u00a0
\n\t\t\t\t\t(2,554) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(4,655)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\tShortening the leasing period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t25,277 \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2022 \u00a0
\n\t\t\t\t\t144,029 \u00a0
\n\t\t\t\t\t13,825 \u00a0
\n\t\t\t\t\t157,854 \u00a0
\n\t\t\t\t\t117 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
2021 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2021 \u00a0
\n\t\t\t\t\t112,833 \u00a0
\n\t\t\t\t\t13,808 \u00a0
\n\t\t\t\t\t126,641 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t13,863 \u00a0
\n\t\t\t\t\t126,696 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(1,480) \u00a0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t153 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(22,684)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t30,723 \u00a0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2021 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
The Polish properties have an assessed value of DKK 157,971 thousand, of which DKK 143,889 thousand is the real estate in Warsaw, DKK 140 thousand is a \u00a0
\n\t\t\t\t\tland plot in Blichowo and DKK 13,942 thousand is right of use resulting from the application of IFRS 16. The value of the real estate in Warsaw is supported by \u00a0
\n\t\t\t\t\tan external valuation report received in December 2022, prepared by a leading international estate agent in Warsaw. The value of the land plot in Blichowo has \u00a0
\n\t\t\t\t\tbeen assessed by the company\u2019s management using a comparative method. \u00a0
\n\t\t\t\t\tThe value of the real estate in Warsaw represents the estate agent\u2019s assessment of the current fair value. In addition to the general price level in the market, \u00a0
\n\t\t\t\t\tthe assessment is based on these main assumptions: the present use of the property, the state of the buildings, the percentage of ownership, the income \u00a0
\n\t\t\t\t\tgenerated by the property and the zoning of the area. Any changes to these, particularly the percentage of ownership (i.e. the positive or negative resolution \u00a0
\n\t\t\t\t\tof former owners\u2019 claims), changes in zoning (e.g. to residential) and the general price development of similar properties in the area, could favourably or \u00a0
\n\t\t\t\t\tadversely impact the property valuation. \u00a0
\n\t\t\t\t\tFor the valuation purposes, the property was divided into four groups: internal roads, industrial schemes (buildings), development land and plots designated \u00a0
\n\t\t\t\t\tfor external roads. \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of internal roads, development land and external roads, a comparative approach has been used whereby recent sales are used \u00a0
\n\t\t\t\t\tto determine the likely value of the subject. This approach assumes that the variation in prices between at least three comparable properties can be explained \u00a0
\n\t\t\t\t\tby differences in their individual attributes such as location, surroundings, accessibility, development potential, etc. The influence of each of these attributes \u00a0
\n\t\t\t\t\ton the value is assigned a percentage weighting, and the characteristics of each comparable and the subject are then rated, typically from 1 \u2013 5, from very good \u00a0
\n\t\t\t\t\tto very poor. The price of each comparable is adjusted according to how it differs from the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on normal earnings. Income from each lessee is expected to be generated for as long \u00a0
\n\t\t\t\t\tas the lease is in force or until the first time it may be terminated if considered advantageous. Thereafter, income is expected to continue to be generated at \u00a0
\n\t\t\t\t\tmarket rent. Adjustments are made for lost rental income, fitting-out deposits and unobtainable running costs. Market rents applied range from DKK 55.6 per \u00a0
\n\t\t\t\t\tsqm for warehouses, to DKK 62.4 per sqm for offices and DKK 79.4 per sqm for self-storage boxes \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of the industrial buildings, an equivalent yield approach has been used. An equivalent yield is defined in the Glossary of Property \u00a0
\n\t\t\t\t\tTerms (2nd edition), published by Estates Gazette, as \u201cthe constant capitalisation rate applied to all cash flows, that is, the internal rate of return from an \u00a0
\n\t\t\t\t\t69 \u00a0
investment property reflecting reversions to current market rent, and such items as voids and expenditures, but disregarding potential changes in market rents. \u00a0
\n\t\t\t\t\tConventionally calculated on a nominal basis, assuming that rents are receivable/payable annually in arrears\u201d. \u00a0
\n\t\t\t\t\tThe required rates of return which have been set are an important factor in estimating the fair values. An equivalent yield of between 10.9% and 11.55% was \u00a0
\n\t\t\t\t\tadopted, which reflects the risks associated with a normal ownership or usufruct interest property including open-ended lease agreements and the physical \u00a0
\n\t\t\t\t\tstate of the particular buildings. Using the equivalent yields mentioned above, a value of the subject was obtained reflecting an initial yield of between 9.79% \u00a0
\n\t\t\t\t\tand 13.47% and a final yield of between 12.06% and 12.99%. \u00a0
Other assumptions: \u00a0
\n\t\t\t\t\tShort-term leases: assumed to expire after their notice periods \u00a0
\n\t\t\t\t\tLetting voids: 24 months for offices / 12 for warehouse & production space \u00a0
\n\t\t\t\t\tReletting voids: 10 months for offices / 5 for warehouse & production space \u00a0
\n\t\t\t\t\tNo fit-out contributions \u00a0
\n\t\t\t\t\tLetting fees: 16.5% \u00a0
\n\t\t\t\t\tNo rent-free periods and empty service charge \u00a0
\n\t\t\t\t\tIrrecoverable operating costs DKK 6.7 million (including property tax, perpetual usufruct fee, security, insurance, cost of the utilities based on the operating \u00a0
\n\t\t\t\t\tcost budget, plus management fee of 2% of market rent) \u00a0
\n\t\t\t\t\tCapital expenditure of DKK 3.7 million \u00a0
\n\t\t\t\t\tIn the case of properties for which the company is not entered in the land and mortgage register as a perpetual usufructuary or owner due to claims or \u00a0
\n\t\t\t\t\tprotracted administrative proceedings, the value is further reduced by 20% due to the risk that such claims will be accommodated and due to the expenses \u00a0
\n\t\t\t\t\tassociated with the transitional phase. \u00a0
Valuation sensitivity to the main factors used: \u00a0
\n\t\t\t\t\t+/- DKK 3,300 thousand for a change in the price of land by 10% (applied to internal roads, development land and external roads); \u00a0
\n\t\t\t\t\t+/- DKK 15,600 thousand for a change in market rent rate by 10%
(applied to plots of land with buildings i.e. perpetual usufruct right over plot 59/17 and \u00a0
\n\t\t\t\t\tpossession right over plots 69/8 and 69/3); \u00a0
\n\t\t\t\t\t- DKK 11,200 thousand for an increase in equivalent yield by 10%; + DKK 14,500 thousand for a decrease in equivalent yield by 10% (applied to plots of land \u00a0
\n\t\t\t\t\twith buildings i.e. perpetual usufruct right over plot 59/17 and possession right over plots 69/8 and 69/3); \u00a0
\n\t\t\t\t\t+/- DKK 2,000 thousand for a change in the discount for legal title by 10% (applies to plots in possession, i.e. without a legal title). \u00a0
Fair value hierarchy information \u00a0
\n\t\t\t\t\tLevel 1 \u00a0
\n\t\t\t\t\tLevel 2 \u00a0
\n\t\t\t\t\tLevel 3 \u00a0
\n\t\t\t\t\tat 31/12 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t137,322 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1895": {
"value": "Receivables \u00a0
\n\t\t\t\t\tReceivables comprise non-current deposits in connection with the purchase \u00a0
\n\t\t\t\t\tand sale of goods and receivables from sale of goods and services. Receivables \u00a0
\n\t\t\t\t\tare classified as loans and receivables, which are financial assets with fixed or \u00a0
\n\t\t\t\t\tdeterminable payments that are not quoted in an active market and are not \u00a0
\n\t\t\t\t\tderivative financial instruments. \u00a0
\n\t\t\t\t\tOn initial recognition, receivables are measured at fair value and \u00a0
\n\t\t\t\t\tsubsequently at amortised cost, which usually corresponds to the nominal \u00a0
\n\t\t\t\t\tvalue less write-downs for bad debts. \u00a0
\n\t\t\t\t\tThe Group applies the IFRS 9 simplified approach to measuring expected \u00a0
\n\t\t\t\t\tcredit losses which uses a lifetime expected loss allowance for all trade \u00a0
\n\t\t\t\t\treceivables. To measure the expected credit losses, trade receivables have \u00a0
\n\t\t\t\t\tbeen grouped based on shared credit risk characteristics and the days past \u00a0
\n\t\t\t\t\tdue. The expected loss rates are based on the payment profiles of sales over \u00a0
\n\t\t\t\t\ta period of 36 months before 31 December 2021 or 1 January 2021 \u00a0
\n\t\t\t\t\trespectively and the corresponding historical credit losses experienced within \u00a0
\n\t\t\t\t\tthis period. The historical loss rates are adjusted to reflect current and \u00a0
\n\t\t\t\t\tforward-looking information on macroeconomic factors affecting the ability \u00a0
\n\t\t\t\t\tof the customers to settle the receivables. The group has identified the GDP \u00a0
\n\t\t\t\t\tand the unemployment rate of the countries in which it sells its goods and \u00a0
\n\t\t\t\t\tservices to be the most relevant factors, and accordingly adjusts the historical \u00a0
\n\t\t\t\t\tloss rates based on expected changes in these factors. \u00a0
13. TRADE
RECEIVABLES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t2,715 \u00a0
\n\t\t\t\t\t2,151 \u00a0
\n\t\t\t\t\tLoss provisions included in the above receivables and \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\trecognised in \u201cOther external expenses\u201d \u00a0
\n\t\t\t\t\t(515) \u00a0
\n\t\t\t\t\t(424) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2,200 \u00a0
\n\t\t\t\t\t1,727 \u00a0
\n\t\t\t\t\tOverdue receivables for which provisions have not been made. \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOverdue by up to 1 month \u00a0
\n\t\t\t\t\t762 \u00a0
\n\t\t\t\t\t587 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOverdue by 1 to 3 months \u00a0
\n\t\t\t\t\t264 \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOverdue by more than 3 months \u00a0
\n\t\t\t\t\t59 \u00a0
\n\t\t\t\t\t108 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,085 \u00a0
\n\t\t\t\t\t917 \u00a0
\n\t\t\t\t\tOverdue receivables for which provisions have not been made, by geographical area: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tEurope \u00a0
\n\t\t\t\t\t1,085 \u00a0
\n\t\t\t\t\t917 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,085 \u00a0
\n\t\t\t\t\t917 \u00a0
\n\t\t\t\t\tWith the implementation of IFRS 9, the company has applied the simplified expected credit loss model to measure the expected credit loss allowance for all \u00a0
\n\t\t\t\t\ttrade receivables. Based on the low realised losses on receivables historically, adjustments to reflect current and forward-looking information on \u00a0
\n\t\t\t\t\tmacroeconomic factors affecting the ability of clients to settle the receivable such as GDP and unemployment rates do not increase the risk of losses \u00a0
\n\t\t\t\t\tsignificantly. \u00a0
13. TRADE
RECEIVABLES (CONTINUED) \u00a0
\n\t\t\t\t\tProvision account for receivables: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProvision account at 1 January \u00a0
\n\t\t\t\t\t424 \u00a0
\n\t\t\t\t\t301 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tReversed provisions \u00a0
\n\t\t\t\t\t(149) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProvisions for the year \u00a0
\n\t\t\t\t\t249 \u00a0
\n\t\t\t\t\t125 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTranslation differences \u00a0
\n\t\t\t\t\t(9) \u00a0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tProvision account at 31 December \u00a0
\n\t\t\t\t\t515 \u00a0
\n\t\t\t\t\t424 \u00a0
21. CHANGE
IN NET WORKING CAPITAL \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in receivables \u00a0
\n\t\t\t\t\t(688) \u00a0
\n\t\t\t\t\t(85) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in inventories (work in progress) \u00a0
\n\t\t\t\t\t(3,946) \u00a0
\n\t\t\t\t\t(3,090) \u00a0
\n\t\t\t\t\t320 \u00a0
\n\t\t\t\t\t(11) \u00a0
\n\t\t\t\t\tChange in trade payables and other payables \u00a0
\n\t\t\t\t\t(1,800) \u00a0
\n\t\t\t\t\t(182) \u00a0
\n\t\t\t\t\t320 \u00a0
\n\t\t\t\t\t(11) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(6,434) \u00a0
\n\t\t\t\t\t(3,357) \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t2,200 \u00a0
\n\t\t\t\t\t1,727 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\tIntra-group receivables \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, current \u00a0
\n\t\t\t\t\t472 \u00a0
\n\t\t\t\t\t257 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, non-current \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t273 \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,648 \u00a0
\n\t\t\t\t\t1,518 \u00a0
\n\t\t\t\t\tLoans, advances and receivables \u00a0
\n\t\t\t\t\t10,177 \u00a0
\n\t\t\t\t\t18,461 \u00a0
\n\t\t\t\t\t30,635 \u00a0
\n\t\t\t\t\t27,366 \u00a0
\n\t\t\t\t\tDebt to subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, current \u00a0
\n\t\t\t\t\t815 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, non-current \u00a0
\n\t\t\t\t\t13,128 \u00a0
\n\t\t\t\t\t15,751 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther non-current liabilities \u00a0
\n\t\t\t\t\t3,263 \u00a0
\n\t\t\t\t\t2,173 \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tIncome tax payable \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\t32,856 \u00a0
\n\t\t\t\t\t29,342 \u00a0
\n\t\t\t\t\tFinancial liabilities \u00a0
\n\t\t\t\t\t20,612 \u00a0
\n\t\t\t\t\t23,814 \u00a0
\n\t\t\t\t\tFinance lease liabilities are measured at fair value, while other remaining liabilities are measured at amortised cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1921": {
"value": "Segment information \u00a0
\n\t\t\t\t\tThe Group is assessed as having two segments: \u00a0
\n\t\t\t\t\t(A) Property management division comprising letting of premises \u00a0
\n\t\t\t\t\tand land and the provision of utilities to tenants, including \u00a0
\n\t\t\t\t\tpower, water, natural gas, facility services, etc. \u00a0
\n\t\t\t\t\t(B) Property development \u2013 including the preparation and \u00a0
\n\t\t\t\t\timplementation of development projects, primarily in the field \u00a0
\n\t\t\t\t\tof housing and commercial space. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1922": {
"value": "Segment information \u00a0
\n\t\t\t\t\tThe Group is assessed as having two segments: \u00a0
\n\t\t\t\t\t(A) Property management division comprising letting of premises \u00a0
\n\t\t\t\t\tand land and the provision of utilities to tenants, including \u00a0
\n\t\t\t\t\tpower, water, natural gas, facility services, etc. \u00a0
\n\t\t\t\t\t(B) Property development \u2013 including the preparation and \u00a0
\n\t\t\t\t\timplementation of development projects, primarily in the field \u00a0
\n\t\t\t\t\tof housing and commercial space. \u00a0
3. \u00a0
\n\t\t\t\t\tSEGMENT INFORMATION \u00a0
\n\t\t\t\t\tBased on IFRS 8 Operating Segments, the CeMat Group is assessed as having two segments: \u00a0
\n\t\t\t\t\t(A) Property management division comprising letting of premises and land and the provision of utilities to tenants, including power, water, natural \u00a0
\n\t\t\t\t\tgas, facility services, etc. \u00a0
\n\t\t\t\t\t(B) Property development \u2013 including the preparation and implementation of development projects, primarily in the field of housing and commercial \u00a0
\n\t\t\t\t\tspace. \u00a0
\n\t\t\t\t\tThe assessment of the results of operations in individual segments is made mainly on the basis of sales revenues and gross profit obtained in these segments. \u00a0
2022 \u00a0
\n\t\t\t\t\tProperty \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tManagement Development*) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tSales revenue \u00a0
\n\t\t\t\t\t26,574 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26,574 \u00a0
\n\t\t\t\t\tGROSS PROFIT \u00a0
\n\t\t\t\t\t12,700 \u00a0
\n\t\t\t\t\t(402) \u00a0
\n\t\t\t\t\t12,298 \u00a0
\n\t\t\t\t\tOverheads \u00a0
\n\t\t\t\t\t(8,939) \u00a0
\n\t\t\t\t\tOther income / costs \u00a0
\n\t\t\t\t\t129 \u00a0
\n\t\t\t\t\tEBITDA \u00a0
\n\t\t\t\t\t3,488 \u00a0
\n\t\t\t\t\tDepreciation \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\tEBIT \u00a0
\n\t\t\t\t\t3,460 \u00a0
\n\t\t\t\t\tRevaluation investment property \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\tNet result on financial activities \u00a0
\n\t\t\t\t\t(973) \u00a0
\n\t\t\t\t\tPROFIT (LOSS) BEFORE TAX \u00a0
\n\t\t\t\t\t27,812 \u00a0
\n\t\t\t\t\tTax on profit/(loss) for the year including deferred tax \u00a0
\n\t\t\t\t\t(5,730) \u00a0
\n\t\t\t\t\tPROFIT (LOSS) FOR THE YEAR \u00a0
\n\t\t\t\t\t22,082 \u00a0
\n\t\t\t\t\t*) In 2022, there were no revenues in the Development segment. The Development segment has been separated in terms of functionality. According to the \u00a0
\n\t\t\t\t\taccounting policy, revenues and profits from the sale of real estate (residential units, commercial space, etc.) will be recognized when the real estate \u00a0
\n\t\t\t\t\tpurchaser takes over control over the real estate acquired and receives significant risks and rewards of ownership. \u00a0
2021 \u00a0
\n\t\t\t\t\tProperty \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tManagement Development*) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tSales revenue \u00a0
\n\t\t\t\t\t21,307 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t21,307 \u00a0
\n\t\t\t\t\tGROSS PROFIT \u00a0
\n\t\t\t\t\t10,110 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10,110 \u00a0
\n\t\t\t\t\tOverheads \u00a0
\n\t\t\t\t\t(7,735) \u00a0
\n\t\t\t\t\tOther income / costs \u00a0
\n\t\t\t\t\t994 \u00a0
\n\t\t\t\t\tEBITDA \u00a0
\n\t\t\t\t\t3,369 \u00a0
\n\t\t\t\t\tDepreciation \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\tEBIT \u00a0
\n\t\t\t\t\t3,326 \u00a0
\n\t\t\t\t\tRevaluation investment property \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\tNet result on financial activities \u00a0
\n\t\t\t\t\t(1,038) \u00a0
\n\t\t\t\t\tPROFIT (LOSS) BEFORE TAX \u00a0
\n\t\t\t\t\t33,159 \u00a0
\n\t\t\t\t\tTax on profit/(loss) for the year including deferred tax \u00a0
\n\t\t\t\t\t(6,898) \u00a0
\n\t\t\t\t\tPROFIT (LOSS) FOR THE YEAR \u00a0
\n\t\t\t\t\t26,261 \u00a0
\n\t\t\t\t\t*) In 2021, there were no revenues or costs in the Development segment. The Development segment has been separated in terms of functionality. According \u00a0
\n\t\t\t\t\tto the accounting policy, revenues and profits from the sale of real estate (residential units, commercial space, etc.) will be recognized when the real estate \u00a0
\n\t\t\t\t\tpurchaser takes over control over the real estate acquired and receives significant risks and rewards of ownership. \u00a0
Other segment information: \u00a0
\n\t\t\t\t\tProperty management revenue can be broken down into the letting of premises and land and the provision of utilities to tenants, including power, water, \u00a0
\n\t\t\t\t\tnatural gas, facility services, etc: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tLetting \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tUtilities \u00a0
\n\t\t\t\t\t7,935 \u00a0
\n\t\t\t\t\t5,571 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t26,574 \u00a0
\n\t\t\t\t\t21,307 \u00a0
\n\t\t\t\t\tRevenue is generated by the Polish subsidiaries CeMat Real Estate, CeMat '70 S.A. and W133, and the Group derives all of its revenue from Poland. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1900": {
"value": "Prepayments \u00a0
\n\t\t\t\t\tPrepayments comprise incurred costs relating to subsequent financial years. \u00a0
\n\t\t\t\t\tPrepayments are measured at cost. \u00a0
11. OTHER
NON-CURRENT RECEIVABLES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tPrepayment, settlement of claim of title to land \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t273 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t273 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1902": {
"value": "Provisions \u00a0
\n\t\t\t\t\tProvisions are recognised when the Group has a legal or constructive \u00a0
\n\t\t\t\t\tobligation as a consequence of past events during the financial year or prior \u00a0
\n\t\t\t\t\tyears, and when it is likely that settlement of the obligation will require an \u00a0
\n\t\t\t\t\toutflow of the Group\u2019s financial resources. Warranty commitments cover \u00a0
\n\t\t\t\t\tcommitments to repair faulty or defective products sold within the warranty \u00a0
\n\t\t\t\t\tperiod. \u00a0
\n\t\t\t\t\tProvisions are measured as the best estimate of the costs required to settle \u00a0
\n\t\t\t\t\tthe liabilities at the balance sheet date. Provisions with an expected term of \u00a0
\n\t\t\t\t\tmore than a year after the balance sheet date are measured at present value. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1903": {
"value": "Provisions \u00a0
\n\t\t\t\t\tProvisions are recognised when the Group has a legal or constructive \u00a0
\n\t\t\t\t\tobligation as a consequence of past events during the financial year or prior \u00a0
\n\t\t\t\t\tyears, and when it is likely that settlement of the obligation will require an \u00a0
\n\t\t\t\t\toutflow of the Group\u2019s financial resources. Warranty commitments cover \u00a0
\n\t\t\t\t\tcommitments to repair faulty or defective products sold within the warranty \u00a0
\n\t\t\t\t\tperiod. \u00a0
\n\t\t\t\t\tProvisions are measured as the best estimate of the costs required to settle \u00a0
\n\t\t\t\t\tthe liabilities at the balance sheet date. Provisions with an expected term of \u00a0
\n\t\t\t\t\tmore than a year after the balance sheet date are measured at present value. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1904": {
"value": "Lease liabilities \u00a0
\n\t\t\t\t\tIFRS 16 eliminates the classification of leases as either operating leases or \u00a0
\n\t\t\t\t\tfinance leases. Lease liabilities for all leases with a term of more than 12 \u00a0
\n\t\t\t\t\tmonths are recognised, unless the underlying asset is of low value. \u00a0
\n\t\t\t\t\tAt the commencement date, a lease liability is measured at the present value \u00a0
\n\t\t\t\t\tof future lease payments. The lease payments are discounted using the \u00a0
\n\t\t\t\t\tinterest rate implicit in the lease, if that rate can be readily determined. If that \u00a0
\n\t\t\t\t\trate cannot be readily determined, the incremental borrowing rate is used. \u00a0
\n\t\t\t\t\tAfter the commencement date, the lease liability is measured by increasing \u00a0
\n\t\t\t\t\tthe carrying amount to reflect interest on the lease liability, reducing the \u00a0
\n\t\t\t\t\tcarrying amount to reflect the lease payments made and remeasuring the \u00a0
\n\t\t\t\t\tcarrying amount to reflect any reassessment or lease modification or to \u00a0
\n\t\t\t\t\treflect revised in-substance fixed lease payments. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1905": {
"value": "Lease liabilities \u00a0
\n\t\t\t\t\tIFRS 16 eliminates the classification of leases as either operating leases or \u00a0
\n\t\t\t\t\tfinance leases. Lease liabilities for all leases with a term of more than 12 \u00a0
\n\t\t\t\t\tmonths are recognised, unless the underlying asset is of low value. \u00a0
\n\t\t\t\t\tAt the commencement date, a lease liability is measured at the present value \u00a0
\n\t\t\t\t\tof future lease payments. The lease payments are discounted using the \u00a0
\n\t\t\t\t\tinterest rate implicit in the lease, if that rate can be readily determined. If that \u00a0
\n\t\t\t\t\trate cannot be readily determined, the incremental borrowing rate is used. \u00a0
\n\t\t\t\t\tAfter the commencement date, the lease liability is measured by increasing \u00a0
\n\t\t\t\t\tthe carrying amount to reflect interest on the lease liability, reducing the \u00a0
\n\t\t\t\t\tcarrying amount to reflect the lease payments made and remeasuring the \u00a0
\n\t\t\t\t\tcarrying amount to reflect any reassessment or lease modification or to \u00a0
\n\t\t\t\t\treflect revised in-substance fixed lease payments. \u00a0
Other financial liabilities \u00a0
\n\t\t\t\t\tOther financial liabilities comprise bank debt, trade payables and other \u00a0
\n\t\t\t\t\tpayables to public authorities. On initial recognition, other financial liabilities \u00a0
\n\t\t\t\t\tare measured at fair value less transaction costs. In subsequent periods, \u00a0
\n\t\t\t\t\tfinancial liabilities are measured at amortised cost, applying the effective \u00a0
\n\t\t\t\t\tinterest method, to the effect that the difference between the proceeds and \u00a0
\n\t\t\t\t\tthe nominal value is recognised in the income statement as a financial \u00a0
\n\t\t\t\t\texpense over the term of the loan. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1907": {
"value": "Lease liabilities \u00a0
\n\t\t\t\t\tIFRS 16 eliminates the classification of leases as either operating leases or \u00a0
\n\t\t\t\t\tfinance leases. Lease liabilities for all leases with a term of more than 12 \u00a0
\n\t\t\t\t\tmonths are recognised, unless the underlying asset is of low value. \u00a0
\n\t\t\t\t\tAt the commencement date, a lease liability is measured at the present value \u00a0
\n\t\t\t\t\tof future lease payments. The lease payments are discounted using the \u00a0
\n\t\t\t\t\tinterest rate implicit in the lease, if that rate can be readily determined. If that \u00a0
\n\t\t\t\t\trate cannot be readily determined, the incremental borrowing rate is used. \u00a0
\n\t\t\t\t\tAfter the commencement date, the lease liability is measured by increasing \u00a0
\n\t\t\t\t\tthe carrying amount to reflect interest on the lease liability, reducing the \u00a0
\n\t\t\t\t\tcarrying amount to reflect the lease payments made and remeasuring the \u00a0
\n\t\t\t\t\tcarrying amount to reflect any reassessment or lease modification or to \u00a0
\n\t\t\t\t\treflect revised in-substance fixed lease payments. \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2022 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(2,252) \u00a0
\n\t\t\t\t\t(299) \u00a0
\n\t\t\t\t\t(2,551) \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t(302) \u00a0
\n\t\t\t\t\t(2,554) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(4,655)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\tShortening the leasing period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t25,277 \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2022 \u00a0
\n\t\t\t\t\t144,029 \u00a0
\n\t\t\t\t\t13,825 \u00a0
\n\t\t\t\t\t157,854 \u00a0
\n\t\t\t\t\t117 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
2021 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2021 \u00a0
\n\t\t\t\t\t112,833 \u00a0
\n\t\t\t\t\t13,808 \u00a0
\n\t\t\t\t\t126,641 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t13,863 \u00a0
\n\t\t\t\t\t126,696 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(1,480) \u00a0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t153 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(22,684)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t30,723 \u00a0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2021 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
The Polish properties have an assessed value of DKK 157,971 thousand, of which DKK 143,889 thousand is the real estate in Warsaw, DKK 140 thousand is a \u00a0
\n\t\t\t\t\tland plot in Blichowo and DKK 13,942 thousand is right of use resulting from the application of IFRS 16. The value of the real estate in Warsaw is supported by \u00a0
\n\t\t\t\t\tan external valuation report received in December 2022, prepared by a leading international estate agent in Warsaw. The value of the land plot in Blichowo has \u00a0
\n\t\t\t\t\tbeen assessed by the company\u2019s management using a comparative method. \u00a0
\n\t\t\t\t\tThe value of the real estate in Warsaw represents the estate agent\u2019s assessment of the current fair value. In addition to the general price level in the market, \u00a0
\n\t\t\t\t\tthe assessment is based on these main assumptions: the present use of the property, the state of the buildings, the percentage of ownership, the income \u00a0
\n\t\t\t\t\tgenerated by the property and the zoning of the area. Any changes to these, particularly the percentage of ownership (i.e. the positive or negative resolution \u00a0
\n\t\t\t\t\tof former owners\u2019 claims), changes in zoning (e.g. to residential) and the general price development of similar properties in the area, could favourably or \u00a0
\n\t\t\t\t\tadversely impact the property valuation. \u00a0
\n\t\t\t\t\tFor the valuation purposes, the property was divided into four groups: internal roads, industrial schemes (buildings), development land and plots designated \u00a0
\n\t\t\t\t\tfor external roads. \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of internal roads, development land and external roads, a comparative approach has been used whereby recent sales are used \u00a0
\n\t\t\t\t\tto determine the likely value of the subject. This approach assumes that the variation in prices between at least three comparable properties can be explained \u00a0
\n\t\t\t\t\tby differences in their individual attributes such as location, surroundings, accessibility, development potential, etc. The influence of each of these attributes \u00a0
\n\t\t\t\t\ton the value is assigned a percentage weighting, and the characteristics of each comparable and the subject are then rated, typically from 1 \u2013 5, from very good \u00a0
\n\t\t\t\t\tto very poor. The price of each comparable is adjusted according to how it differs from the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on normal earnings. Income from each lessee is expected to be generated for as long \u00a0
\n\t\t\t\t\tas the lease is in force or until the first time it may be terminated if considered advantageous. Thereafter, income is expected to continue to be generated at \u00a0
\n\t\t\t\t\tmarket rent. Adjustments are made for lost rental income, fitting-out deposits and unobtainable running costs. Market rents applied range from DKK 55.6 per \u00a0
\n\t\t\t\t\tsqm for warehouses, to DKK 62.4 per sqm for offices and DKK 79.4 per sqm for self-storage boxes \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of the industrial buildings, an equivalent yield approach has been used. An equivalent yield is defined in the Glossary of Property \u00a0
\n\t\t\t\t\tTerms (2nd edition), published by Estates Gazette, as \u201cthe constant capitalisation rate applied to all cash flows, that is, the internal rate of return from an \u00a0
\n\t\t\t\t\t69 \u00a0
investment property reflecting reversions to current market rent, and such items as voids and expenditures, but disregarding potential changes in market rents. \u00a0
\n\t\t\t\t\tConventionally calculated on a nominal basis, assuming that rents are receivable/payable annually in arrears\u201d. \u00a0
\n\t\t\t\t\tThe required rates of return which have been set are an important factor in estimating the fair values. An equivalent yield of between 10.9% and 11.55% was \u00a0
\n\t\t\t\t\tadopted, which reflects the risks associated with a normal ownership or usufruct interest property including open-ended lease agreements and the physical \u00a0
\n\t\t\t\t\tstate of the particular buildings. Using the equivalent yields mentioned above, a value of the subject was obtained reflecting an initial yield of between 9.79% \u00a0
\n\t\t\t\t\tand 13.47% and a final yield of between 12.06% and 12.99%. \u00a0
Other assumptions: \u00a0
\n\t\t\t\t\tShort-term leases: assumed to expire after their notice periods \u00a0
\n\t\t\t\t\tLetting voids: 24 months for offices / 12 for warehouse & production space \u00a0
\n\t\t\t\t\tReletting voids: 10 months for offices / 5 for warehouse & production space \u00a0
\n\t\t\t\t\tNo fit-out contributions \u00a0
\n\t\t\t\t\tLetting fees: 16.5% \u00a0
\n\t\t\t\t\tNo rent-free periods and empty service charge \u00a0
\n\t\t\t\t\tIrrecoverable operating costs DKK 6.7 million (including property tax, perpetual usufruct fee, security, insurance, cost of the utilities based on the operating \u00a0
\n\t\t\t\t\tcost budget, plus management fee of 2% of market rent) \u00a0
\n\t\t\t\t\tCapital expenditure of DKK 3.7 million \u00a0
\n\t\t\t\t\tIn the case of properties for which the company is not entered in the land and mortgage register as a perpetual usufructuary or owner due to claims or \u00a0
\n\t\t\t\t\tprotracted administrative proceedings, the value is further reduced by 20% due to the risk that such claims will be accommodated and due to the expenses \u00a0
\n\t\t\t\t\tassociated with the transitional phase. \u00a0
Fair value hierarchy information \u00a0
\n\t\t\t\t\tLevel 1 \u00a0
\n\t\t\t\t\tLevel 2 \u00a0
\n\t\t\t\t\tLevel 3 \u00a0
\n\t\t\t\t\tat 31/12 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t137,322 \u00a0
17. LEASE
LIABILITIES \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tLease liabilities arise from the application of IFRS 16 and relate to the right of perpetual usufruct and the leasing of a company car. Disclosures \u00a0
\n\t\t\t\t\tregarding the depreciation charge for right-of-use assets and the carrying amount of right-of-use assets at the end of the reporting period are included \u00a0
\n\t\t\t\t\tin Note 9. Interest expense on lease liabilities is presented in Note 6. The total cash outflow for leases was DKK 956 thousand in 2022. The expense \u00a0
\n\t\t\t\t\trelating to short-term operating leases for which no lease liability was recognised at the end of the reporting period was DKK 16 thousand. The fixed \u00a0
\n\t\t\t\t\tincremental borrowing rate applied for first time recognition of lease liability was 6%. The total lease obligation was discounted using the incremental \u00a0
\n\t\t\t\t\tborrowing rate over the total lease period, which is 67 years. \u00a0
Minimum lease \u00a0
\n\t\t\t\t\tPresent value of minimum \u00a0
\n\t\t\t\t\tpayments, DKK\u2019000 \u00a0
\n\t\t\t\t\tlease payments, DKK\u2018000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tFinance lease liabilities fall due as follows: \u00a0
\n\t\t\t\t\tWithin 1 year from the balance sheet date \u00a0
\n\t\t\t\t\t867 \u00a0
\n\t\t\t\t\t1,002 \u00a0
\n\t\t\t\t\t818 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\tBetween 1 and 5 years from the balance sheet date \u00a0
\n\t\t\t\t\t3,473 \u00a0
\n\t\t\t\t\t4,152 \u00a0
\n\t\t\t\t\t2,843 \u00a0
\n\t\t\t\t\t3,401 \u00a0
\n\t\t\t\t\tMore than 5 years from the balance sheet date \u00a0
\n\t\t\t\t\t52,619 \u00a0
\n\t\t\t\t\t64,061 \u00a0
\n\t\t\t\t\t10,285 \u00a0
\n\t\t\t\t\t12,343 \u00a0
\n\t\t\t\t\tAt 31 December \u00a0
\n\t\t\t\t\t56,959 \u00a0
\n\t\t\t\t\t69,215 \u00a0
\n\t\t\t\t\t13,946 \u00a0
\n\t\t\t\t\t16,687 \u00a0
Present value \u00a0
\n\t\t\t\t\tFixed or \u00a0
\n\t\t\t\t\tof minimum \u00a0
\n\t\t\t\t\tfloating \u00a0
\n\t\t\t\t\tlease \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tExpiry interest rate
payments, DKK\u2018000
DKK\u2018000 \u00a0
\n\t\t\t\t\tLease liability, right of use investment property \u00a0
\n\t\t\t\t\t2089 \u00a0
\n\t\t\t\t\tFixed \u00a0
\n\t\t\t\t\t13,825 \u00a0
\n\t\t\t\t\t13,824 \u00a0
\n\t\t\t\t\tLease liability, right of use plant and machinery \u00a0
\n\t\t\t\t\t2025 \u00a0
\n\t\t\t\t\tFloating \u00a0
\n\t\t\t\t\t121 \u00a0
\n\t\t\t\t\t121 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t13,946 \u00a0
\n\t\t\t\t\t13,946 \u00a0
\n\t\t\t\t\tPresent value \u00a0
\n\t\t\t\t\tFixed or \u00a0
\n\t\t\t\t\tof minimum \u00a0
\n\t\t\t\t\tfloating \u00a0
\n\t\t\t\t\tlease \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tExpiry interest rate
payments, DKK\u2018000
DKK\u2018000 \u00a0
\n\t\t\t\t\tLease liability, right of use investment property \u00a0
\n\t\t\t\t\t2089 \u00a0
\n\t\t\t\t\tFixed \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\tLease liability, right of use plant and machinery \u00a0
\n\t\t\t\t\t2025 \u00a0
\n\t\t\t\t\tFloating \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t16,687 \u00a0
18. CHANGES
IN LIABILITIES ARISING FROM FINANCING ACTIVITIES \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t(22) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t118 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t57 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\tTotal financial liabilities \u00a0
\n\t\t\t\t\t1,148 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t35 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,151 \u00a0
2021 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(40) \u00a0
\n\t\t\t\t\t157 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tTotal financial liabilities \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t(40) \u00a0
\n\t\t\t\t\t183 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,148 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1927": {
"value": "New standards, interpretations and amendments effective from \u00a0
\n\t\t\t\t\t1 January 2022 \u00a0
\n\t\t\t\t\tThe following new standards, amendments and interpretations are effective \u00a0
\n\t\t\t\t\tfor the first time for periods beginning on or after 1 January 2022: \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tReference to the Conceptual Framework (Amendments to IFRS 3), \u00a0
\n\t\t\t\t\teffective for periods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tAnnual Improvements to IFRS Standards 2018\u20132020, effective for \u00a0
\n\t\t\t\t\tperiods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIAS 37 Provisions, Contingent Liabilities and Contingent Assets \u00a0
\n\t\t\t\t\t(Amendment \u2013 Onerous Contracts \u2013 Cost of Fulfilling a Contract), \u00a0
\n\t\t\t\t\teffective for periods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tProperty, Plant and Equipment \u2014 Proceeds before Intended Use, \u00a0
\n\t\t\t\t\teffective for periods beginning on or after 1 January 2022 \u00a0
\n\t\t\t\t\tThe new standards, interpretations and amendments do not have significant \u00a0
\n\t\t\t\t\timpact on the Group\u2019s financial statements. \u00a0
New standards, interpretations and amendments not yet effective \u00a0
\n\t\t\t\t\tThere are a number of standards and interpretations which have been issued \u00a0
\n\t\t\t\t\tby the International Accounting Standards Board that are effective in future \u00a0
\n\t\t\t\t\taccounting periods that the group has decided not to adopt early. The most \u00a0
\n\t\t\t\t\tsignificant of these are: \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIAS 1 \"Presentation of Financial Statements\", the amendments \u00a0
\n\t\t\t\t\tare effective for annual periods beginning on or after 1 January \u00a0
\n\t\t\t\t\t2023 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIAS 8 \"Accounting Policies, Changes in Accounting Estimates and \u00a0
\n\t\t\t\t\tErrors\", the amendments are effective for annual periods begin- \u00a0
\n\t\t\t\t\tning on or after 1 January 2023 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIFRS 16 \u201cLeases\u201d, the amendments are effective for annual re- \u00a0
\n\t\t\t\t\tporting periods beginning on or after 1 January 2024 \u00a0
\n\t\t\t\t\t\uf0b7
\n\t\t\t\t\tIFRS 17 \u201cInsurance Contracts\u201d, the amendments are effective for \u00a0
\n\t\t\t\t\tannual reporting periods beginning on or after 1 January 2023 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1929": {
"value": "2. \u00a0
\n\t\t\t\t\tSIGNIFICANT ACCOUNTING ESTIMATES, \u00a0
\n\t\t\t\t\tASSUMPTIONS AND UNCERTAINTIES \u00a0
In applying the Group\u2019s accounting policies, as outlined in Note 1, \u00a0
\n\t\t\t\t\tManagement is required to make judgements, estimates and assumptions \u00a0
\n\t\t\t\t\tabout the carrying amounts of assets and liabilities which cannot be \u00a0
\n\t\t\t\t\timmediately inferred from other sources. \u00a0
The estimates and assumptions applied are based on historical experience \u00a0
\n\t\t\t\t\tand other factors that Management considers reasonable under the \u00a0
\n\t\t\t\t\tcircumstances, but which are inherently uncertain and unpredictable. Such \u00a0
\n\t\t\t\t\tassumptions may be incomplete or inaccurate, and unexpected events or \u00a0
\n\t\t\t\t\tcircumstances may occur. In addition, the Group is subject to risks and \u00a0
\n\t\t\t\t\tuncertainties that may cause actual outcomes to deviate from such \u00a0
\n\t\t\t\t\testimates. CeMat\u2019s risks are described in \u201cRisks and risk management\u201d and in \u00a0
\n\t\t\t\t\tNote 24 \u201cFinancial risks and financial instruments\u201d. \u00a0
\n\t\t\t\t\tEstimates and underlying assumptions are reviewed on an ongoing basis. \u00a0
\n\t\t\t\t\tChanges to accounting estimates are recognised in the reference period in \u00a0
\n\t\t\t\t\twhich the change occurs and in future reference periods if the change affects \u00a0
\n\t\t\t\t\tthe period in which it is made as well as subsequent reference periods. \u00a0
Measurement of investment property \u00a0
\n\t\t\t\t\tThe Group\u2019s investment property is measured at its estimated fair value in \u00a0
\n\t\t\t\t\taccordance with IAS 40 and IFRS 13, and any value adjustments are \u00a0
\n\t\t\t\t\trecognised in the income statement. Management has reviewed the updated \u00a0
\n\t\t\t\t\tvaluation report received in December 2022 and its underlying assumptions. \u00a0
\n\t\t\t\t\tManagement\u2019s valuation estimate is in line with that indicated in the report, \u00a0
\n\t\t\t\t\tand the fair value consequently reflects the value stated in the report. \u00a0
\n\t\t\t\t\tAs the property market is not in all respects as efficient and liquid as, for \u00a0
\n\t\t\t\t\texample, the equity market, there can be no assurance that a buyer willing to \u00a0
\n\t\t\t\t\tpay the fair value at which the property is stated in the financial statements \u00a0
\n\t\t\t\t\tcan be found at any given time. In other words, properties are subject to a \u00a0
\n\t\t\t\t\tliquidity risk in a sales situation. \u00a0
Investments in subsidiaries \u00a0
\n\t\t\t\t\tInvestments in subsidiaries are recognised in the parent company's financial \u00a0
\n\t\t\t\t\tstatements at cost less any write-downs to the recoverable amount. \u00a0
Forward-looking statements \u00a0
\n\t\t\t\t\tAll forward-looking statements in this annual report reflect Management\u2019s \u00a0
\n\t\t\t\t\tcurrent expectations for certain future events and financial results. Forward- \u00a0
\n\t\t\t\t\tlooking statements are inherently subject to uncertainty, and actual results \u00a0
\n\t\t\t\t\tmay therefore differ materially from expectations. \u00a0
\n\t\t\t\t\tFactors that may cause actual results to deviate materially from expectations \u00a0
\n\t\t\t\t\tinclude, but are not limited to, general economic developments, \u00a0
\n\t\t\t\t\tdevelopments in the financial markets and changes in the Polish real estate \u00a0
\n\t\t\t\t\trental market. Changes in the political climate in Poland may also affect \u00a0
\n\t\t\t\t\tforecasts and results. \u00a0
Tax asset utilisation \u00a0
\n\t\t\t\t\tDeferred tax assets are recognised for all unutilised tax losses and differences \u00a0
\n\t\t\t\t\tto the extent it is considered likely that they can be utilised through taxable \u00a0
\n\t\t\t\t\tincome within a foreseeable number of years. \u00a0
The annual report is published only in English. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1937": {
"value": "Other segment information: \u00a0
\n\t\t\t\t\tProperty management revenue can be broken down into the letting of premises and land and the provision of utilities to tenants, including power, water, \u00a0
\n\t\t\t\t\tnatural gas, facility services, etc: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tLetting \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tUtilities \u00a0
\n\t\t\t\t\t7,935 \u00a0
\n\t\t\t\t\t5,571 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t26,574 \u00a0
\n\t\t\t\t\t21,307 \u00a0
\n\t\t\t\t\tRevenue is generated by the Polish subsidiaries CeMat Real Estate, CeMat '70 S.A. and W133, and the Group derives all of its revenue from Poland. \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2022 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(2,252) \u00a0
\n\t\t\t\t\t(299) \u00a0
\n\t\t\t\t\t(2,551) \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t(302) \u00a0
\n\t\t\t\t\t(2,554) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(4,655)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\tShortening the leasing period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t25,277 \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2022 \u00a0
\n\t\t\t\t\t144,029 \u00a0
\n\t\t\t\t\t13,825 \u00a0
\n\t\t\t\t\t157,854 \u00a0
\n\t\t\t\t\t117 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
2021 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2021 \u00a0
\n\t\t\t\t\t112,833 \u00a0
\n\t\t\t\t\t13,808 \u00a0
\n\t\t\t\t\t126,641 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t13,863 \u00a0
\n\t\t\t\t\t126,696 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(1,480) \u00a0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t153 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(22,684)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t30,723 \u00a0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2021 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
The Polish properties have an assessed value of DKK 157,971 thousand, of which DKK 143,889 thousand is the real estate in Warsaw, DKK 140 thousand is a \u00a0
\n\t\t\t\t\tland plot in Blichowo and DKK 13,942 thousand is right of use resulting from the application of IFRS 16. The value of the real estate in Warsaw is supported by \u00a0
\n\t\t\t\t\tan external valuation report received in December 2022, prepared by a leading international estate agent in Warsaw. The value of the land plot in Blichowo has \u00a0
\n\t\t\t\t\tbeen assessed by the company\u2019s management using a comparative method. \u00a0
\n\t\t\t\t\tThe value of the real estate in Warsaw represents the estate agent\u2019s assessment of the current fair value. In addition to the general price level in the market, \u00a0
\n\t\t\t\t\tthe assessment is based on these main assumptions: the present use of the property, the state of the buildings, the percentage of ownership, the income \u00a0
\n\t\t\t\t\tgenerated by the property and the zoning of the area. Any changes to these, particularly the percentage of ownership (i.e. the positive or negative resolution \u00a0
\n\t\t\t\t\tof former owners\u2019 claims), changes in zoning (e.g. to residential) and the general price development of similar properties in the area, could favourably or \u00a0
\n\t\t\t\t\tadversely impact the property valuation. \u00a0
\n\t\t\t\t\tFor the valuation purposes, the property was divided into four groups: internal roads, industrial schemes (buildings), development land and plots designated \u00a0
\n\t\t\t\t\tfor external roads. \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of internal roads, development land and external roads, a comparative approach has been used whereby recent sales are used \u00a0
\n\t\t\t\t\tto determine the likely value of the subject. This approach assumes that the variation in prices between at least three comparable properties can be explained \u00a0
\n\t\t\t\t\tby differences in their individual attributes such as location, surroundings, accessibility, development potential, etc. The influence of each of these attributes \u00a0
\n\t\t\t\t\ton the value is assigned a percentage weighting, and the characteristics of each comparable and the subject are then rated, typically from 1 \u2013 5, from very good \u00a0
\n\t\t\t\t\tto very poor. The price of each comparable is adjusted according to how it differs from the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on normal earnings. Income from each lessee is expected to be generated for as long \u00a0
\n\t\t\t\t\tas the lease is in force or until the first time it may be terminated if considered advantageous. Thereafter, income is expected to continue to be generated at \u00a0
\n\t\t\t\t\tmarket rent. Adjustments are made for lost rental income, fitting-out deposits and unobtainable running costs. Market rents applied range from DKK 55.6 per \u00a0
\n\t\t\t\t\tsqm for warehouses, to DKK 62.4 per sqm for offices and DKK 79.4 per sqm for self-storage boxes \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of the industrial buildings, an equivalent yield approach has been used. An equivalent yield is defined in the Glossary of Property \u00a0
\n\t\t\t\t\tTerms (2nd edition), published by Estates Gazette, as \u201cthe constant capitalisation rate applied to all cash flows, that is, the internal rate of return from an \u00a0
\n\t\t\t\t\t69 \u00a0
investment property reflecting reversions to current market rent, and such items as voids and expenditures, but disregarding potential changes in market rents. \u00a0
\n\t\t\t\t\tConventionally calculated on a nominal basis, assuming that rents are receivable/payable annually in arrears\u201d. \u00a0
\n\t\t\t\t\tThe required rates of return which have been set are an important factor in estimating the fair values. An equivalent yield of between 10.9% and 11.55% was \u00a0
\n\t\t\t\t\tadopted, which reflects the risks associated with a normal ownership or usufruct interest property including open-ended lease agreements and the physical \u00a0
\n\t\t\t\t\tstate of the particular buildings. Using the equivalent yields mentioned above, a value of the subject was obtained reflecting an initial yield of between 9.79% \u00a0
\n\t\t\t\t\tand 13.47% and a final yield of between 12.06% and 12.99%. \u00a0
Other assumptions: \u00a0
\n\t\t\t\t\tShort-term leases: assumed to expire after their notice periods \u00a0
\n\t\t\t\t\tLetting voids: 24 months for offices / 12 for warehouse & production space \u00a0
\n\t\t\t\t\tReletting voids: 10 months for offices / 5 for warehouse & production space \u00a0
\n\t\t\t\t\tNo fit-out contributions \u00a0
\n\t\t\t\t\tLetting fees: 16.5% \u00a0
\n\t\t\t\t\tNo rent-free periods and empty service charge \u00a0
\n\t\t\t\t\tIrrecoverable operating costs DKK 6.7 million (including property tax, perpetual usufruct fee, security, insurance, cost of the utilities based on the operating \u00a0
\n\t\t\t\t\tcost budget, plus management fee of 2% of market rent) \u00a0
\n\t\t\t\t\tCapital expenditure of DKK 3.7 million \u00a0
\n\t\t\t\t\tIn the case of properties for which the company is not entered in the land and mortgage register as a perpetual usufructuary or owner due to claims or \u00a0
\n\t\t\t\t\tprotracted administrative proceedings, the value is further reduced by 20% due to the risk that such claims will be accommodated and due to the expenses \u00a0
\n\t\t\t\t\tassociated with the transitional phase. \u00a0
Fair value hierarchy information \u00a0
\n\t\t\t\t\tLevel 1 \u00a0
\n\t\t\t\t\tLevel 2 \u00a0
\n\t\t\t\t\tLevel 3 \u00a0
\n\t\t\t\t\tat 31/12 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\t32,756 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\t111,273 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tLand / roads \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\t36,402 \u00a0
\n\t\t\t\t\tPlots of land with buildings \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\t84,233 \u00a0
\n\t\t\t\t\tRight of use \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\tTotal Investment property \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t137,322 \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tRental income from investment property \u00a0
\n\t\t\t\t\t18,639 \u00a0
\n\t\t\t\t\t15,736 \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tDirect operating expenses arising from investment property \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses (including repairs and maintenance) arising from \u00a0
\n\t\t\t\t\t6,946 \u00a0
\n\t\t\t\t\t5,657 \u00a0
\n\t\t\t\t\tinvestment property that generated rental income during the period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses (including repairs and maintenance) arising from investment \u00a0
\n\t\t\t\t\t671 \u00a0
\n\t\t\t\t\t834 \u00a0
\n\t\t\t\t\tproperty that did not generate rental income during the period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses arising from investment property \u00a0
\n\t\t\t\t\t7,617 \u00a0
\n\t\t\t\t\t6,491 \u00a0
9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tAmounts of minimum lease payments at balance sheet date under non-cancellable operating leases. \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tOperating lease payments may be specified as follows: \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tWithin 1 year \u00a0
\n\t\t\t\t\t6,063 \u00a0
\n\t\t\t\t\t5,591 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tBetween 1 and 5 years \u00a0
\n\t\t\t\t\t895 \u00a0
\n\t\t\t\t\t1,768 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t6,958 \u00a0
\n\t\t\t\t\t7,359 \u00a0
\n\t\t\t\t\tFor agreements with tenants for an indefinite period, the above figures represent the aggregate rental income from leasing agreements within their notice \u00a0
\n\t\t\t\t\tperiods. For agreements with tenants for a definite period, the above figures represent the aggregate rental until the end of the agreement. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1947": {
"value": "4. \u00a0
\n\t\t\t\t\tSTAFF COSTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\tDirectors' fees \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\tWages and salaries \u00a0
\n\t\t\t\t\t3,134 \u00a0
\n\t\t\t\t\t3,366 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tBonuses for Management Board \u00a0
\n\t\t\t\t\t324 \u00a0
\n\t\t\t\t\t299 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tPension contributions, defined contribution plans \u00a0
\n\t\t\t\t\t550 \u00a0
\n\t\t\t\t\t642 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther social security costs \u00a0
\n\t\t\t\t\t169 \u00a0
\n\t\t\t\t\t133 \u00a0
\n\t\t\t\t\t1,086 \u00a0
\n\t\t\t\t\t876 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t5,227 \u00a0
\n\t\t\t\t\t5,281 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t1
\n\t\t\t\t\tAverage number of full-time employees \u00a0
\n\t\t\t\t\t22 \u00a0
\n\t\t\t\t\t21 \u00a0
\n\t\t\t\t\tThe calculation of the average number of full-time employees (FTE) is based on the number of employees at the end of each month, not including members of the Board \u00a0
\n\t\t\t\t\tof Directors. For the purpose of the above table, the Management Board is understood as the CEO of CeMat A/S and theCEO and CFO of the subsidiary companies CeMat \u00a0
\n\t\t\t\t\t'70, CeMat Real Estate, W131, W133 and Arkuszowa 56. Additional remuneration of the CEO for consultancy services of DKK 859 thousand (2021: DKK 698 thousand) \u00a0
\n\t\t\t\t\trelated to development project or preparation of land plots for divestment or development is recognised as inventories (work in progress) or investment property and is \u00a0
\n\t\t\t\t\tnot included in the table above. \u00a0
\n\t\t\t\t\tCeMat has signed an annex which intends to a new performance-based remuneration system for CEO, contribute to business strategy, long-term interests and \u00a0
\n\t\t\t\t\tsustainability through the application of the long-term performance and development targets of the company. An additional bonus will be paid if the companies obtain a \u00a0
\n\t\t\t\t\tprofit from the sale of the properties in an amount exceeding the limit of PLN 103,500,000. This limit is based on the sale of undeveloped real estate and profits from the \u00a0
\n\t\t\t\t\tsale of developed real estate. \u00a0
Group and parent company \u00a0
\n\t\t\t\t\tRemuneration of Board of Directors and Management Board \u00a0
\n\t\t\t\t\tBoard of Directors \u00a0
\n\t\t\t\t\tManagement Board \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDirectors' fees \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tSalaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,468 \u00a0
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\tBonuses \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t324 \u00a0
\n\t\t\t\t\t299 \u00a0
\n\t\t\t\t\tPension contributions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t132 \u00a0
\n\t\t\t\t\t121 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,050 \u00a0
\n\t\t\t\t\t840 \u00a0
\n\t\t\t\t\t1,924 \u00a0
\n\t\t\t\t\t1,640 \u00a0
\n\t\t\t\t\tThe fee to the Chairman of the Board of Directors for the current term amounts to DKK 500 thousand (2021: DKK 400 thousand), to the Deputy Chairman DKK \u00a0
\n\t\t\t\t\t350 thousand (2021: DKK 280 thousand) and to an ordinary member DKK 200 thousand (2021: DKK 160 thousand). For the purpose of the above table, the \u00a0
\n\t\t\t\t\tManagement Board is understood as the CEO of CeMat A/S and the CEO and CFO of the subsidiary companies CeMat '70, CeMat Real Estate, W131, W133 and \u00a0
\n\t\t\t\t\tArkuszowa 56. Additional remuneration of the CEO for consultancy services of DKK 859 thousand related to development project or preparation of land plots for \u00a0
\n\t\t\t\t\tdivestment or development recognised as inventories (work in progress) or investment property is included in the line \u201cSalaries\u201d in the table above. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1949": {
"value": "5. \u00a0
\n\t\t\t\t\tFINANCIAL INCOME \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t53 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tInterest from group entities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInterest on bank deposits etc. \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\t53 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tInterest income \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\t468 \u00a0
\n\t\t\t\t\t216 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t521 \u00a0
\n\t\t\t\t\t271 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
6. \u00a0
\n\t\t\t\t\tFINANCIAL EXPENSES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,146 \u00a0
\n\t\t\t\t\t1,083 \u00a0
\n\t\t\t\t\tInterest to group entities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInterest relating to lease liabilities \u00a0
\n\t\t\t\t\t978 \u00a0
\n\t\t\t\t\t994 \u00a0
\n\t\t\t\t\t56 \u00a0
\n\t\t\t\t\t17 \u00a0
\n\t\t\t\t\tInterest on bank loans \u00a0
\n\t\t\t\t\t56 \u00a0
\n\t\t\t\t\t17 \u00a0
\n\t\t\t\t\t18 \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\tOther interest \u00a0
\n\t\t\t\t\t126 \u00a0
\n\t\t\t\t\t33 \u00a0
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\t1,125 \u00a0
\n\t\t\t\t\tInterest expenses \u00a0
\n\t\t\t\t\t1,160 \u00a0
\n\t\t\t\t\t1,044 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\t1,125 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,157 \u00a0
\n\t\t\t\t\t1,045 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1951": {
"value": "5. \u00a0
\n\t\t\t\t\tFINANCIAL INCOME \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t53 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tInterest from group entities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInterest on bank deposits etc. \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\t53 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tInterest income \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\t468 \u00a0
\n\t\t\t\t\t216 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t521 \u00a0
\n\t\t\t\t\t271 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t184 \u00a0
\n\t\t\t\t\t7
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1952": {
"value": "6. \u00a0
\n\t\t\t\t\tFINANCIAL EXPENSES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,146 \u00a0
\n\t\t\t\t\t1,083 \u00a0
\n\t\t\t\t\tInterest to group entities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInterest relating to lease liabilities \u00a0
\n\t\t\t\t\t978 \u00a0
\n\t\t\t\t\t994 \u00a0
\n\t\t\t\t\t56 \u00a0
\n\t\t\t\t\t17 \u00a0
\n\t\t\t\t\tInterest on bank loans \u00a0
\n\t\t\t\t\t56 \u00a0
\n\t\t\t\t\t17 \u00a0
\n\t\t\t\t\t18 \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\tOther interest \u00a0
\n\t\t\t\t\t126 \u00a0
\n\t\t\t\t\t33 \u00a0
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\t1,125 \u00a0
\n\t\t\t\t\tInterest expenses \u00a0
\n\t\t\t\t\t1,160 \u00a0
\n\t\t\t\t\t1,044 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\t1,125 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,157 \u00a0
\n\t\t\t\t\t1,045 \u00a0
28. RELATED
PARTY TRANSACTIONS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t54 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tSubsidiaries, interest income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,147 \u00a0
\n\t\t\t\t\t1,083 \u00a0
\n\t\t\t\t\tSubsidiaries, interest expenses \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,201 \u00a0
\n\t\t\t\t\t1,138 \u00a0
\n\t\t\t\t\tTotal transactions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther management remuneration etc. is stated separately in connection with note 4 \u201cStaff costs\u201d. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1954": {
"value": "6. \u00a0
\n\t\t\t\t\tFINANCIAL EXPENSES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,146 \u00a0
\n\t\t\t\t\t1,083 \u00a0
\n\t\t\t\t\tInterest to group entities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tInterest relating to lease liabilities \u00a0
\n\t\t\t\t\t978 \u00a0
\n\t\t\t\t\t994 \u00a0
\n\t\t\t\t\t56 \u00a0
\n\t\t\t\t\t17 \u00a0
\n\t\t\t\t\tInterest on bank loans \u00a0
\n\t\t\t\t\t56 \u00a0
\n\t\t\t\t\t17 \u00a0
\n\t\t\t\t\t18 \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\tOther interest \u00a0
\n\t\t\t\t\t126 \u00a0
\n\t\t\t\t\t33 \u00a0
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\t1,125 \u00a0
\n\t\t\t\t\tInterest expenses \u00a0
\n\t\t\t\t\t1,160 \u00a0
\n\t\t\t\t\t1,044 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t1,220 \u00a0
\n\t\t\t\t\t1,125 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,157 \u00a0
\n\t\t\t\t\t1,045 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1955": {
"value": "7. \u00a0
\n\t\t\t\t\tTAX ON THE PROFIT/LOSS FOR THE YEAR AND DEFERRED TAX (CONTINUED) \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tBreakdown of deferred tax for the Group stated in the balance sheet: \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDeferred tax liabilities, see balance sheet \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tDeferred tax, net \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tRecognise \u00a0
\n\t\t\t\t\tLoss of \u00a0
\n\t\t\t\t\tForeign \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tin Income \u00a0
\n\t\t\t\t\tusability \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tStatement \u00a0
\n\t\t\t\t\tof tax losses \u00a0
\n\t\t\t\t\tadjustment Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t31.12.2022 \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t(24,715) \u00a0
\n\t\t\t\t\t(4,469) \u00a0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(29,287) \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t(1,186) \u00a0
\n\t\t\t\t\t(321) \u00a0
\n\t\t\t\t\t(1,507) \u00a0
\n\t\t\t\t\tOther payables etc \u00a0
\n\t\t\t\t\t265 \u00a0
\n\t\t\t\t\t(33) \u00a0
\n\t\t\t\t\t232 \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\t(4,823) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(30,562) \u00a0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\t750 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t24,888 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\t750 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2) \u00a0
\n\t\t\t\t\t24,888 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(24,140) \u00a0
\n\t\t\t\t\t(756) \u00a0
\n\t\t\t\t\t568 \u00a0
\n\t\t\t\t\t2
\n\t\t\t\t\t(24,325) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\t(4,829) \u00a0
\n\t\t\t\t\t568 \u00a0
\n\t\t\t\t\t(103) \u00a0
\n\t\t\t\t\t(30,000) \u00a0
\n\t\t\t\t\tThe Group does not expect to be able to utilise part of the tax losses within 3-5 years. Accordingly, no tax asset has been recognised in the consolidated balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Recognise \u00a0
\n\t\t\t\t\tLoss of \u00a0
\n\t\t\t\t\tForeign \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tin Income \u00a0
\n\t\t\t\t\tusability \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tStatement \u00a0
\n\t\t\t\t\tof tax losses \u00a0
\n\t\t\t\t\tadjustment Deferred
tax \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\t01.01.2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t31.12.2021 \u00a0
\n\t\t\t\t\tProperty, plant and equipment \u00a0
\n\t\t\t\t\t(18,697) \u00a0
\n\t\t\t\t\t(6,210) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(24,715) \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t(955) \u00a0
\n\t\t\t\t\t(231) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,186) \u00a0
\n\t\t\t\t\tOther payables etc \u00a0
\n\t\t\t\t\t177 \u00a0
\n\t\t\t\t\t88 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t265 \u00a0
\n\t\t\t\t\tTemporary differences \u00a0
\n\t\t\t\t\t(19,475) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tTax loss carry-forwards \u00a0
\n\t\t\t\t\t29,704 \u00a0
\n\t\t\t\t\t751 \u00a0
\n\t\t\t\t\t(6,254) \u00a0
\n\t\t\t\t\t(61) \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\tUnutilised tax losses \u00a0
\n\t\t\t\t\t29,704 \u00a0
\n\t\t\t\t\t751 \u00a0
\n\t\t\t\t\t(6,254) \u00a0
\n\t\t\t\t\t(61) \u00a0
\n\t\t\t\t\t24,140 \u00a0
\n\t\t\t\t\tValue adjustment \u00a0
\n\t\t\t\t\t(29,704) \u00a0
\n\t\t\t\t\t(751) \u00a0
\n\t\t\t\t\t6,254 \u00a0
\n\t\t\t\t\t61 \u00a0
\n\t\t\t\t\t(24,140) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(19,475) \u00a0
\n\t\t\t\t\t(6,353) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t192 \u00a0
\n\t\t\t\t\t(25,636) \u00a0
\n\t\t\t\t\tThe Group does not expect to be able to utilise the tax losses within 3-5 years. Accordingly, no tax asset has been recognised in the consolidated balance sheet. \u00a0
18. CHANGES
IN LIABILITIES ARISING FROM FINANCING ACTIVITIES \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t(22) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t118 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t57 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\tTotal financial liabilities \u00a0
\n\t\t\t\t\t1,148 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t35 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,151 \u00a0
2021 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(40) \u00a0
\n\t\t\t\t\t157 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tTotal financial liabilities \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t(40) \u00a0
\n\t\t\t\t\t183 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,148 \u00a0
PARENT COMPANY \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLoans from subsidiaries \u00a0
\n\t\t\t\t\t27,367 \u00a0
\n\t\t\t\t\t2,536 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,146 \u00a0
\n\t\t\t\t\t(490) \u00a0
\n\t\t\t\t\t30,559 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t57 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\tLoans \u00a0
\n\t\t\t\t\t28,343 \u00a0
\n\t\t\t\t\t2,536 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,203 \u00a0
\n\t\t\t\t\t(490) \u00a0
\n\t\t\t\t\t31,592 \u00a0
2021 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLoans from subsidiaries \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t797 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,082 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t27,367 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tLoans \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t1,747 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,108 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t28,343 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1961": {
"value": "8. \u00a0
\n\t\t\t\t\tEARNINGS PER SHARE \u00a0
\n\t\t\t\t\tThe calculation of earnings per share is based on the following: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(0.01) \u00a0
\n\t\t\t\t\t(0.01) \u00a0
\n\t\t\t\t\tEarnings per share (DKK) \u00a0
\n\t\t\t\t\t0.08 \u00a0
\n\t\t\t\t\t0.10 \u00a0
\n\t\t\t\t\t(0.01) \u00a0
\n\t\t\t\t\t(0.01) \u00a0
\n\t\t\t\t\tDiluted earnings per share (DKK) \u00a0
\n\t\t\t\t\t0.08 \u00a0
\n\t\t\t\t\t0.10 \u00a0
\n\t\t\t\t\t(3,383) \u00a0
\n\t\t\t\t\t(3,162) \u00a0
\n\t\t\t\t\tEarnings used in the calculation of earnings per share (DKK\u2019000): \u00a0
\n\t\t\t\t\t20,326 \u00a0
\n\t\t\t\t\t24,199 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tAverage number of shares used to calculate earnings per share (\u2018000) \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tAverage number of shares used to calculate \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tdiluted earnings per share (\u2018000) \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tThe average number of outstanding shares is calculated as the number of days prior to a capital increase multiplied by the number of shares in circulation. If \u00a0
\n\t\t\t\t\tseveral capital increases are made, the number of days between the capital increases multiplied by the number of shares in circulation during the relevant \u00a0
\n\t\t\t\t\tperiod is added together. The sum is divided by 365. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1962": {
"value": "9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2022 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(2,252) \u00a0
\n\t\t\t\t\t(299) \u00a0
\n\t\t\t\t\t(2,551) \u00a0
\n\t\t\t\t\t(3) \u00a0
\n\t\t\t\t\t(302) \u00a0
\n\t\t\t\t\t(2,554) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\t(28) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\t(17) \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(4,655)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(4,655) \u00a0
\n\t\t\t\t\tShortening the leasing period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\t(2,446) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5,024 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t25,277 \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t25,325 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2022 \u00a0
\n\t\t\t\t\t144,029 \u00a0
\n\t\t\t\t\t13,825 \u00a0
\n\t\t\t\t\t157,854 \u00a0
\n\t\t\t\t\t117 \u00a0
\n\t\t\t\t\t13,942 \u00a0
\n\t\t\t\t\t157,971 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
2021 \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tPlant and \u00a0
\n\t\t\t\t\tTotal property \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tInvestment \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tproperty \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tright of use \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCarrying amount at 1 January 2021 \u00a0
\n\t\t\t\t\t112,833 \u00a0
\n\t\t\t\t\t13,808 \u00a0
\n\t\t\t\t\t126,641 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t13,863 \u00a0
\n\t\t\t\t\t126,696 \u00a0
\n\t\t\t\t\tForeign exchange adjustments \u00a0
\n\t\t\t\t\t(1,480) \u00a0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(126) \u00a0
\n\t\t\t\t\t(1,606) \u00a0
\n\t\t\t\t\tRight of use, depreciation \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\t(43) \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t2,692 \u00a0
\n\t\t\t\t\t153 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\t2,845 \u00a0
\n\t\t\t\t\tTransfer to inventories (work in progress) \u00a0
\n\t\t\t\t\t(22,684)* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t(22,684) \u00a0
\n\t\t\t\t\tEnhancement costs \u00a0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,243 \u00a0
\n\t\t\t\t\tRevaluation to market value \u00a0
\n\t\t\t\t\t30,723 \u00a0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t148 \u00a0
\n\t\t\t\t\t30,871 \u00a0
\n\t\t\t\t\tCarrying amount at 31 December 2021 \u00a0
\n\t\t\t\t\t120,635 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t137,157 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t137,322 \u00a0
\n\t\t\t\t\t*The fair value of one of the plots has been transferred to inventories (work in progress) in connection with the commencement of a development project. \u00a0
The Polish properties have an assessed value of DKK 157,971 thousand, of which DKK 143,889 thousand is the real estate in Warsaw, DKK 140 thousand is a \u00a0
\n\t\t\t\t\tland plot in Blichowo and DKK 13,942 thousand is right of use resulting from the application of IFRS 16. The value of the real estate in Warsaw is supported by \u00a0
\n\t\t\t\t\tan external valuation report received in December 2022, prepared by a leading international estate agent in Warsaw. The value of the land plot in Blichowo has \u00a0
\n\t\t\t\t\tbeen assessed by the company\u2019s management using a comparative method. \u00a0
\n\t\t\t\t\tThe value of the real estate in Warsaw represents the estate agent\u2019s assessment of the current fair value. In addition to the general price level in the market, \u00a0
\n\t\t\t\t\tthe assessment is based on these main assumptions: the present use of the property, the state of the buildings, the percentage of ownership, the income \u00a0
\n\t\t\t\t\tgenerated by the property and the zoning of the area. Any changes to these, particularly the percentage of ownership (i.e. the positive or negative resolution \u00a0
\n\t\t\t\t\tof former owners\u2019 claims), changes in zoning (e.g. to residential) and the general price development of similar properties in the area, could favourably or \u00a0
\n\t\t\t\t\tadversely impact the property valuation. \u00a0
\n\t\t\t\t\tFor the valuation purposes, the property was divided into four groups: internal roads, industrial schemes (buildings), development land and plots designated \u00a0
\n\t\t\t\t\tfor external roads. \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of internal roads, development land and external roads, a comparative approach has been used whereby recent sales are used \u00a0
\n\t\t\t\t\tto determine the likely value of the subject. This approach assumes that the variation in prices between at least three comparable properties can be explained \u00a0
\n\t\t\t\t\tby differences in their individual attributes such as location, surroundings, accessibility, development potential, etc. The influence of each of these attributes \u00a0
\n\t\t\t\t\ton the value is assigned a percentage weighting, and the characteristics of each comparable and the subject are then rated, typically from 1 \u2013 5, from very good \u00a0
\n\t\t\t\t\tto very poor. The price of each comparable is adjusted according to how it differs from the subject, with the resulting adjusted average price from the \u00a0
\n\t\t\t\t\tcomparables taken as providing a reasonable indication of the subject\u2019s value. \u00a0
\n\t\t\t\t\tIndustrial buildings are valued using an earnings-based approach based on normal earnings. Income from each lessee is expected to be generated for as long \u00a0
\n\t\t\t\t\tas the lease is in force or until the first time it may be terminated if considered advantageous. Thereafter, income is expected to continue to be generated at \u00a0
\n\t\t\t\t\tmarket rent. Adjustments are made for lost rental income, fitting-out deposits and unobtainable running costs. Market rents applied range from DKK 55.6 per \u00a0
\n\t\t\t\t\tsqm for warehouses, to DKK 62.4 per sqm for offices and DKK 79.4 per sqm for self-storage boxes \u00a0
\n\t\t\t\t\tFor the purpose of the valuation of the industrial buildings, an equivalent yield approach has been used. An equivalent yield is defined in the Glossary of Property \u00a0
\n\t\t\t\t\tTerms (2nd edition), published by Estates Gazette, as \u201cthe constant capitalisation rate applied to all cash flows, that is, the internal rate of return from an \u00a0
\n\t\t\t\t\t69 \u00a0
investment property reflecting reversions to current market rent, and such items as voids and expenditures, but disregarding potential changes in market rents. \u00a0
\n\t\t\t\t\tConventionally calculated on a nominal basis, assuming that rents are receivable/payable annually in arrears\u201d. \u00a0
\n\t\t\t\t\tThe required rates of return which have been set are an important factor in estimating the fair values. An equivalent yield of between 10.9% and 11.55% was \u00a0
\n\t\t\t\t\tadopted, which reflects the risks associated with a normal ownership or usufruct interest property including open-ended lease agreements and the physical \u00a0
\n\t\t\t\t\tstate of the particular buildings. Using the equivalent yields mentioned above, a value of the subject was obtained reflecting an initial yield of between 9.79% \u00a0
\n\t\t\t\t\tand 13.47% and a final yield of between 12.06% and 12.99%. \u00a0
Other assumptions: \u00a0
\n\t\t\t\t\tShort-term leases: assumed to expire after their notice periods \u00a0
\n\t\t\t\t\tLetting voids: 24 months for offices / 12 for warehouse & production space \u00a0
\n\t\t\t\t\tReletting voids: 10 months for offices / 5 for warehouse & production space \u00a0
\n\t\t\t\t\tNo fit-out contributions \u00a0
\n\t\t\t\t\tLetting fees: 16.5% \u00a0
\n\t\t\t\t\tNo rent-free periods and empty service charge \u00a0
\n\t\t\t\t\tIrrecoverable operating costs DKK 6.7 million (including property tax, perpetual usufruct fee, security, insurance, cost of the utilities based on the operating \u00a0
\n\t\t\t\t\tcost budget, plus management fee of 2% of market rent) \u00a0
\n\t\t\t\t\tCapital expenditure of DKK 3.7 million \u00a0
\n\t\t\t\t\tIn the case of properties for which the company is not entered in the land and mortgage register as a perpetual usufructuary or owner due to claims or \u00a0
\n\t\t\t\t\tprotracted administrative proceedings, the value is further reduced by 20% due to the risk that such claims will be accommodated and due to the expenses \u00a0
\n\t\t\t\t\tassociated with the transitional phase. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1967": {
"value": "9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tDirect operating expenses arising from investment property \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses (including repairs and maintenance) arising from \u00a0
\n\t\t\t\t\t6,946 \u00a0
\n\t\t\t\t\t5,657 \u00a0
\n\t\t\t\t\tinvestment property that generated rental income during the period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses (including repairs and maintenance) arising from investment \u00a0
\n\t\t\t\t\t671 \u00a0
\n\t\t\t\t\t834 \u00a0
\n\t\t\t\t\tproperty that did not generate rental income during the period \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDirect operating expenses arising from investment property \u00a0
\n\t\t\t\t\t7,617 \u00a0
\n\t\t\t\t\t6,491 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1968": {
"value": "9. \u00a0
\n\t\t\t\t\tPROPERTY, PLANT AND EQUIPMENT (CONTINUED) \u00a0
\n\t\t\t\t\tAmounts of minimum lease payments at balance sheet date under non-cancellable operating leases. \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tOperating lease payments may be specified as follows: \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tWithin 1 year \u00a0
\n\t\t\t\t\t6,063 \u00a0
\n\t\t\t\t\t5,591 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tBetween 1 and 5 years \u00a0
\n\t\t\t\t\t895 \u00a0
\n\t\t\t\t\t1,768 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t6,958 \u00a0
\n\t\t\t\t\t7,359 \u00a0
\n\t\t\t\t\tFor agreements with tenants for an indefinite period, the above figures represent the aggregate rental income from leasing agreements within their notice \u00a0
\n\t\t\t\t\tperiods. For agreements with tenants for a definite period, the above figures represent the aggregate rental until the end of the agreement. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasePrepaymentsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1969": {
"value": "14. CASH
AND CASH EQUIVALENTS AS PER THE CASH FLOW STATEMENT \u00a0
\n\t\t\t\t\tThe Group's cash and cash equivalents primarily consist of bank deposits. No credit risk is deemed to be associated with cash and cash equivalents. \u00a0
\n\t\t\t\t\tBank deposits carry floating rates of interest. The carrying amount equals the fair value of the assets. \u00a0
18. CHANGES
IN LIABILITIES ARISING FROM FINANCING ACTIVITIES \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t(22) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t118 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t57 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\tTotal financial liabilities \u00a0
\n\t\t\t\t\t1,148 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t35 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,151 \u00a0
2021 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(40) \u00a0
\n\t\t\t\t\t157 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tTotal financial liabilities \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t(40) \u00a0
\n\t\t\t\t\t183 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,148 \u00a0
PARENT COMPANY \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLoans from subsidiaries \u00a0
\n\t\t\t\t\t27,367 \u00a0
\n\t\t\t\t\t2,536 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,146 \u00a0
\n\t\t\t\t\t(490) \u00a0
\n\t\t\t\t\t30,559 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t57 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\tLoans \u00a0
\n\t\t\t\t\t28,343 \u00a0
\n\t\t\t\t\t2,536 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,203 \u00a0
\n\t\t\t\t\t(490) \u00a0
\n\t\t\t\t\t31,592 \u00a0
2021 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLoans from subsidiaries \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t797 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,082 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t27,367 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tLoans \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t1,747 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,108 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t28,343 \u00a0
The Group\u2019s financial gearing at the balance sheet date is calculated as follows: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank debt \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t(307) \u00a0
\n\t\t\t\t\t(820) \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t(7,139) \u00a0
\n\t\t\t\t\t(16,204) \u00a0
\n\t\t\t\t\t726 \u00a0
\n\t\t\t\t\t156 \u00a0
\n\t\t\t\t\tNet interest-bearing debt \u00a0
\n\t\t\t\t\t(6,106) \u00a0
\n\t\t\t\t\t(15,228) \u00a0
\n\t\t\t\t\t62,131 \u00a0
\n\t\t\t\t\t65,515 \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\t150,896 \u00a0
\n\t\t\t\t\t131,367 \u00a0
\n\t\t\t\t\t0.01 \u00a0
\n\t\t\t\t\t0.00 \u00a0
\n\t\t\t\t\tFinancial gearing \u00a0
\n\t\t\t\t\t(0.04) \u00a0
\n\t\t\t\t\t(0.12) \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1975": {
"value": "15. SHARE
CAPITAL \u00a0
\n\t\t\t\t\tThe share capital consists of 249,850,303 shares of DKK 0.02 each. The shares have not been divided into classes and carry no special rights. \u00a0
\n\t\t\t\t\t\u2018000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNumber of shares at 1 January \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tCancellation of own shares \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tNumber of shares at 31 December \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\t249,850 \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tShare capital at 1 January \u00a0
\n\t\t\t\t\t4,997 \u00a0
\n\t\t\t\t\t4,997 \u00a0
\n\t\t\t\t\tCancellation of own shares \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tShare capital at 31 December \u00a0
\n\t\t\t\t\t4,997 \u00a0
\n\t\t\t\t\t4,997 \u00a0
16. OTHER
RESERVES \u00a0
\n\t\t\t\t\tThe translation reserve comprises all foreign exchange adjustments arising from the translation of the financial statements of entities with other \u00a0
\n\t\t\t\t\tfunctional currencies than DKK and the foreign exchange adjustments of receivables from or payables to subsidiaries which are considered part of \u00a0
\n\t\t\t\t\tthe parent company\u2019s overall investment in the subsidiary. \u00a0
29. SHAREHOLDER
INFORMATION \u00a0
\n\t\t\t\t\tThe parent company has registered the following shareholders holding more than 5% of the voting rights or nominal value of the share capital as at \u00a0
\n\t\t\t\t\t31.12.2022 \u00a0
\n\t\t\t\t\tComposition of shareholders \u00a0
\n\t\t\t\t\tNumber of shares \u00a0
\n\t\t\t\t\tCapital DKK \u00a0
\n\t\t\t\t\tCapital % \u00a0
\n\t\t\t\t\tEDJ-Gruppen Havnegade 19 6700 Esbjerg, Denmark \u00a0
\n\t\t\t\t\t81,250,000 \u00a0
\n\t\t\t\t\t1,625,000.00 \u00a0
\n\t\t\t\t\t32.52 \u00a0
\n\t\t\t\t\tGist Holding ApS C.F Richs Vej 31 \u00a0
\n\t\t\t\t\t25,691,023 \u00a0
\n\t\t\t\t\t513,820.46 \u00a0
\n\t\t\t\t\t10.28 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1978": {
"value": "17. LEASE
LIABILITIES \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tLease liabilities arise from the application of IFRS 16 and relate to the right of perpetual usufruct and the leasing of a company car. Disclosures \u00a0
\n\t\t\t\t\tregarding the depreciation charge for right-of-use assets and the carrying amount of right-of-use assets at the end of the reporting period are included \u00a0
\n\t\t\t\t\tin Note 9. Interest expense on lease liabilities is presented in Note 6. The total cash outflow for leases was DKK 956 thousand in 2022. The expense \u00a0
\n\t\t\t\t\trelating to short-term operating leases for which no lease liability was recognised at the end of the reporting period was DKK 16 thousand. The fixed \u00a0
\n\t\t\t\t\tincremental borrowing rate applied for first time recognition of lease liability was 6%. The total lease obligation was discounted using the incremental \u00a0
\n\t\t\t\t\tborrowing rate over the total lease period, which is 67 years. \u00a0
Minimum lease \u00a0
\n\t\t\t\t\tPresent value of minimum \u00a0
\n\t\t\t\t\tpayments, DKK\u2019000 \u00a0
\n\t\t\t\t\tlease payments, DKK\u2018000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tFinance lease liabilities fall due as follows: \u00a0
\n\t\t\t\t\tWithin 1 year from the balance sheet date \u00a0
\n\t\t\t\t\t867 \u00a0
\n\t\t\t\t\t1,002 \u00a0
\n\t\t\t\t\t818 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\tBetween 1 and 5 years from the balance sheet date \u00a0
\n\t\t\t\t\t3,473 \u00a0
\n\t\t\t\t\t4,152 \u00a0
\n\t\t\t\t\t2,843 \u00a0
\n\t\t\t\t\t3,401 \u00a0
\n\t\t\t\t\tMore than 5 years from the balance sheet date \u00a0
\n\t\t\t\t\t52,619 \u00a0
\n\t\t\t\t\t64,061 \u00a0
\n\t\t\t\t\t10,285 \u00a0
\n\t\t\t\t\t12,343 \u00a0
\n\t\t\t\t\tAt 31 December \u00a0
\n\t\t\t\t\t56,959 \u00a0
\n\t\t\t\t\t69,215 \u00a0
\n\t\t\t\t\t13,946 \u00a0
\n\t\t\t\t\t16,687 \u00a0
Present value \u00a0
\n\t\t\t\t\tFixed or \u00a0
\n\t\t\t\t\tof minimum \u00a0
\n\t\t\t\t\tfloating \u00a0
\n\t\t\t\t\tlease \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tExpiry interest rate
payments, DKK\u2018000
DKK\u2018000 \u00a0
\n\t\t\t\t\tLease liability, right of use investment property \u00a0
\n\t\t\t\t\t2089 \u00a0
\n\t\t\t\t\tFixed \u00a0
\n\t\t\t\t\t13,825 \u00a0
\n\t\t\t\t\t13,824 \u00a0
\n\t\t\t\t\tLease liability, right of use plant and machinery \u00a0
\n\t\t\t\t\t2025 \u00a0
\n\t\t\t\t\tFloating \u00a0
\n\t\t\t\t\t121 \u00a0
\n\t\t\t\t\t121 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t13,946 \u00a0
\n\t\t\t\t\t13,946 \u00a0
\n\t\t\t\t\tPresent value \u00a0
\n\t\t\t\t\tFixed or \u00a0
\n\t\t\t\t\tof minimum \u00a0
\n\t\t\t\t\tfloating \u00a0
\n\t\t\t\t\tlease \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tExpiry interest rate
payments, DKK\u2018000
DKK\u2018000 \u00a0
\n\t\t\t\t\tLease liability, right of use investment property \u00a0
\n\t\t\t\t\t2089 \u00a0
\n\t\t\t\t\tFixed \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\t16,522 \u00a0
\n\t\t\t\t\tLease liability, right of use plant and machinery \u00a0
\n\t\t\t\t\t2025 \u00a0
\n\t\t\t\t\tFloating \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\t165 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t16,687 \u00a0
\n\t\t\t\t\t16,687 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1981": {
"value": "18. CHANGES
IN LIABILITIES ARISING FROM FINANCING ACTIVITIES \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t(22) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t118 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t57 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\tTotal financial liabilities \u00a0
\n\t\t\t\t\t1,148 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(32) \u00a0
\n\t\t\t\t\t35 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,151 \u00a0
PARENT COMPANY \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLoans from subsidiaries \u00a0
\n\t\t\t\t\t27,367 \u00a0
\n\t\t\t\t\t2,536 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,146 \u00a0
\n\t\t\t\t\t(490) \u00a0
\n\t\t\t\t\t30,559 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t57 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\tLoans \u00a0
\n\t\t\t\t\t28,343 \u00a0
\n\t\t\t\t\t2,536 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,203 \u00a0
\n\t\t\t\t\t(490) \u00a0
\n\t\t\t\t\t31,592 \u00a0
2021 \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tCash flow \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tBeginning \u00a0
\n\t\t\t\t\tProceeds \u00a0
\n\t\t\t\t\tRepayment \u00a0
\n\t\t\t\t\tNon-cash \u00a0
\n\t\t\t\t\tExchange \u00a0
\n\t\t\t\t\tDKK\u2019000 \u00a0
\n\t\t\t\t\tof year \u00a0
\n\t\t\t\t\tfrom loans \u00a0
\n\t\t\t\t\tof loans \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\trate adjust. \u00a0
\n\t\t\t\t\tEnd of year \u00a0
\n\t\t\t\t\tLoans from subsidiaries \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t797 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,082 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t27,367 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t950 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tLoans \u00a0
\n\t\t\t\t\t25,715 \u00a0
\n\t\t\t\t\t1,747 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,108 \u00a0
\n\t\t\t\t\t(227) \u00a0
\n\t\t\t\t\t28,343 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1984": {
"value": "19. TRADE
PAYABLES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tAmounts owed to suppliers for goods \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tand services delivered \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\tThe carrying amount equals the fair value of the liabilities. Amounts owed to suppliers fall due within one year. \u00a0
20. OTHER
PAYABLES \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tWages and salaries, BoD fee, social security contributions, etc. payable \u00a0
\n\t\t\t\t\t1,587 \u00a0
\n\t\t\t\t\t1,356 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tHoliday pay obligation etc. \u00a0
\n\t\t\t\t\t230 \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tVAT and other indirect taxes payable \u00a0
\n\t\t\t\t\t(1,754) \u00a0
\n\t\t\t\t\t(160) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tCost provisions and other payables \u00a0
\n\t\t\t\t\t373 \u00a0
\n\t\t\t\t\t1,208 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\tThe carrying amount of payables in respect of payroll, Board of Directors fees, tax deducted at source, social security contributions, holiday pay etc., \u00a0
\n\t\t\t\t\tVAT and other indirect taxes and other payables corresponds to the fair value of these liabilities. Holiday pay obligations etc. represent the Group\u2019s \u00a0
\n\t\t\t\t\tobligation to pay wages and salaries during holidays in the next financial year, to which the employees have earned entitlement as at the balance \u00a0
\n\t\t\t\t\tsheet date. All items under other payables are expected to be settled within one year. \u00a0
21. CHANGE
IN NET WORKING CAPITAL \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in receivables \u00a0
\n\t\t\t\t\t(688) \u00a0
\n\t\t\t\t\t(85) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tChange in inventories (work in progress) \u00a0
\n\t\t\t\t\t(3,946) \u00a0
\n\t\t\t\t\t(3,090) \u00a0
\n\t\t\t\t\t320 \u00a0
\n\t\t\t\t\t(11) \u00a0
\n\t\t\t\t\tChange in trade payables and other payables \u00a0
\n\t\t\t\t\t(1,800) \u00a0
\n\t\t\t\t\t(182) \u00a0
\n\t\t\t\t\t320 \u00a0
\n\t\t\t\t\t(11) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(6,434) \u00a0
\n\t\t\t\t\t(3,357) \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t2,200 \u00a0
\n\t\t\t\t\t1,727 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\tIntra-group receivables \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, current \u00a0
\n\t\t\t\t\t472 \u00a0
\n\t\t\t\t\t257 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, non-current \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t273 \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,648 \u00a0
\n\t\t\t\t\t1,518 \u00a0
\n\t\t\t\t\tLoans, advances and receivables \u00a0
\n\t\t\t\t\t10,177 \u00a0
\n\t\t\t\t\t18,461 \u00a0
\n\t\t\t\t\t30,635 \u00a0
\n\t\t\t\t\t27,366 \u00a0
\n\t\t\t\t\tDebt to subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, current \u00a0
\n\t\t\t\t\t815 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, non-current \u00a0
\n\t\t\t\t\t13,128 \u00a0
\n\t\t\t\t\t15,751 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther non-current liabilities \u00a0
\n\t\t\t\t\t3,263 \u00a0
\n\t\t\t\t\t2,173 \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tIncome tax payable \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\t32,856 \u00a0
\n\t\t\t\t\t29,342 \u00a0
\n\t\t\t\t\tFinancial liabilities \u00a0
\n\t\t\t\t\t20,612 \u00a0
\n\t\t\t\t\t23,814 \u00a0
\n\t\t\t\t\tFinance lease liabilities are measured at fair value, while other remaining liabilities are measured at amortised cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1988": {
"value": "22. GUARANTEES
AND CONTINGENT LIABILITIES \u00a0
\n\t\t\t\t\tNo guarantees or sureties have been issued to third parties. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1989": {
"value": "24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t2,200 \u00a0
\n\t\t\t\t\t1,727 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\tIntra-group receivables \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, current \u00a0
\n\t\t\t\t\t472 \u00a0
\n\t\t\t\t\t257 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, non-current \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t273 \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,648 \u00a0
\n\t\t\t\t\t1,518 \u00a0
\n\t\t\t\t\tLoans, advances and receivables \u00a0
\n\t\t\t\t\t10,177 \u00a0
\n\t\t\t\t\t18,461 \u00a0
\n\t\t\t\t\t30,635 \u00a0
\n\t\t\t\t\t27,366 \u00a0
\n\t\t\t\t\tDebt to subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, current \u00a0
\n\t\t\t\t\t815 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, non-current \u00a0
\n\t\t\t\t\t13,128 \u00a0
\n\t\t\t\t\t15,751 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther non-current liabilities \u00a0
\n\t\t\t\t\t3,263 \u00a0
\n\t\t\t\t\t2,173 \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tIncome tax payable \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\t32,856 \u00a0
\n\t\t\t\t\t29,342 \u00a0
\n\t\t\t\t\tFinancial liabilities \u00a0
\n\t\t\t\t\t20,612 \u00a0
\n\t\t\t\t\t23,814 \u00a0
\n\t\t\t\t\tFinance lease liabilities are measured at fair value, while other remaining liabilities are measured at amortised cost. \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tUnhedged net position at balance sheet date: \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t6,832 \u00a0
\n\t\t\t\t\t2,672 \u00a0
\n\t\t\t\t\t(18,391) \u00a0
\n\t\t\t\t\t(8,887) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(8,887) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,221) \u00a0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t2,672 \u00a0
\n\t\t\t\t\t(20,612) \u00a0
\n\t\t\t\t\t(10,801) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(10,801) \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t15,998 \u00a0
\n\t\t\t\t\t1,984 \u00a0
\n\t\t\t\t\t(21,838) \u00a0
\n\t\t\t\t\t(3,856) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(3,856) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,976) \u00a0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,984 \u00a0
\n\t\t\t\t\t(23,814) \u00a0
\n\t\t\t\t\t(5,626) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(5,626) \u00a0
-
\n\t\t\t\t\t-
\n\t\t\t\t\t24. FINANCIAL RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t(30,635) \u00a0
\n\t\t\t\t\t(29,294) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(29,294) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,221) \u00a0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t(32,856) \u00a0
\n\t\t\t\t\t(31,208) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(31,208) \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\t(27,366) \u00a0
\n\t\t\t\t\t(26,054) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(26,054) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,976) \u00a0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\t(29,342) \u00a0
\n\t\t\t\t\t(27,824) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(27,824) \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tCredit risk \u00a0
\n\t\t\t\t\tThe Group\u2019s credit risks associated with financial activities correspond to the amounts recognised in the balance sheet. The Group assesses the need \u00a0
\n\t\t\t\t\tfor insurance on individual debtors on an ongoing basis. This assessment is based on the individual debtor's present and expected future commitment \u00a0
\n\t\t\t\t\tto the Group. \u00a0
\n\t\t\t\t\tThe primary credit risk of the Group is associated with trade receivables. No special credit risks are found to exist in this regard. \u00a0
Capital management \u00a0
\n\t\t\t\t\tThe Group evaluates the need to adapt its capital structure on an ongoing basis. Management believes that the financing of the Group's future \u00a0
\n\t\t\t\t\toperations will be secured with the existing financial resources and cash flows from operating activities. \u00a0
\n\t\t\t\t\tAs regards the free cash flow generated by the Group, first priority is to allocate free cash flows to the Group's continued expansion and shareholder \u00a0
\n\t\t\t\t\tdividends. \u00a0
\n\t\t\t\t\tFor the Group, equity as a percentage of total equity and liabilities at the end of 2022 was 74.9% (2021: 72.7%). The realised return on equity for the \u00a0
\n\t\t\t\t\tGroup for 2022 was 15.7% (2021: 22.0%). \u00a0
The Group\u2019s financial gearing at the balance sheet date is calculated as follows: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank debt \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t(307) \u00a0
\n\t\t\t\t\t(820) \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t(7,139) \u00a0
\n\t\t\t\t\t(16,204) \u00a0
\n\t\t\t\t\t726 \u00a0
\n\t\t\t\t\t156 \u00a0
\n\t\t\t\t\tNet interest-bearing debt \u00a0
\n\t\t\t\t\t(6,106) \u00a0
\n\t\t\t\t\t(15,228) \u00a0
\n\t\t\t\t\t62,131 \u00a0
\n\t\t\t\t\t65,515 \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\t150,896 \u00a0
\n\t\t\t\t\t131,367 \u00a0
\n\t\t\t\t\t0.01 \u00a0
\n\t\t\t\t\t0.00 \u00a0
\n\t\t\t\t\tFinancial gearing \u00a0
\n\t\t\t\t\t(0.04) \u00a0
\n\t\t\t\t\t(0.12) \u00a0
Liquidity and capital resources \u00a0
\n\t\t\t\t\tAt Group level, free cash and cash equivalents amounted to DKK 7.1 million at 31 December 2022, of which DKK 4.8 million are attributable to CeMat \u00a0
\n\t\t\t\t\t'70 S.A. \u00a0
\n\t\t\t\t\tBased on expectations for 2023, Management believes that the existing capital resources and the expected future cash flows will be sufficient to \u00a0
\n\t\t\t\t\tmaintain operations and finance planned investments. \u00a0
\n\t\t\t\t\tThe Group\u2019s budgets, and consequently also its future capital resources, are inherently subject to risk since the extent and timing of cash flow \u00a0
\n\t\t\t\t\tfluctuations will have an impact on the Group\u2019s capital resources. Management believes that any negative deviations in its operations relative to \u00a0
\n\t\t\t\t\tbudgeted cash flows can be mitigated on a timely basis by cash flow-enhancing measures. \u00a0
Risk related to obtaining external financing \u00a0
\n\t\t\t\t\tThe real estate development business, in which the Group intends to operate, requires significant initial expenditures to purchase land and to cover \u00a0
\n\t\t\t\t\tconstruction, infrastructure, and design costs. As such, the Group, in order to continue and develop its business, require significant amounts of cash \u00a0
\n\t\t\t\t\tthrough external financing by banks. The Group\u2019s ability to obtain such financing depend on many factors, in particular, on market conditions which \u00a0
\n\t\t\t\t\tare beyond the Group\u2019s control. In the event of difficulties to obtain the required financing, there is a risk that the scale of the Group\u2019s development \u00a0
\n\t\t\t\t\tand pace of achieving its strategic objectives may differ from what was originally planned. In such situation as described above, there is no certainty \u00a0
\n\t\t\t\t\twhether the Group will be able to obtain the required financing, nor whether financial resources will be obtained under conditions that are favourable \u00a0
\n\t\t\t\t\tto the Group. \u00a0
\n\t\t\t\t\tLoans that the Company intends to obtain will be against variable interest rates that are based on WIBOR rates plus a margin. Therefore, changes in \u00a0
\n\t\t\t\t\tthe WIBOR rates will have impact on the cash flow and the profitability of the Company. \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tAvailability of mortgages \u00a0
\n\t\t\t\t\tThe demand for residential real estate largely depends on the availability of credits and loans for financing the purchase of apartments and houses \u00a0
\n\t\t\t\t\tby individuals. Possible increase in interest rates, deterioration of the economic situation in Poland, the pandemic situation and the increase in \u00a0
\n\t\t\t\t\tunemployment in Poland as well as possible administrative restrictions on lending activities of the banks may cause a drop in demand for apartments \u00a0
\n\t\t\t\t\tand houses, and therefore a decrease in interest from potential buyers in the Company's development projects, which in turn may have a significant \u00a0
\n\t\t\t\t\tadverse impact on activities, financial standing or performance of the Company. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1998": {
"value": "24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t2,200 \u00a0
\n\t\t\t\t\t1,727 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\tIntra-group receivables \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, current \u00a0
\n\t\t\t\t\t472 \u00a0
\n\t\t\t\t\t257 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, non-current \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t273 \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,648 \u00a0
\n\t\t\t\t\t1,518 \u00a0
\n\t\t\t\t\tLoans, advances and receivables \u00a0
\n\t\t\t\t\t10,177 \u00a0
\n\t\t\t\t\t18,461 \u00a0
\n\t\t\t\t\t30,635 \u00a0
\n\t\t\t\t\t27,366 \u00a0
\n\t\t\t\t\tDebt to subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, current \u00a0
\n\t\t\t\t\t815 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, non-current \u00a0
\n\t\t\t\t\t13,128 \u00a0
\n\t\t\t\t\t15,751 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther non-current liabilities \u00a0
\n\t\t\t\t\t3,263 \u00a0
\n\t\t\t\t\t2,173 \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tIncome tax payable \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\t32,856 \u00a0
\n\t\t\t\t\t29,342 \u00a0
\n\t\t\t\t\tFinancial liabilities \u00a0
\n\t\t\t\t\t20,612 \u00a0
\n\t\t\t\t\t23,814 \u00a0
\n\t\t\t\t\tFinance lease liabilities are measured at fair value, while other remaining liabilities are measured at amortised cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1999": {
"value": "24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t2,200 \u00a0
\n\t\t\t\t\t1,727 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\tIntra-group receivables \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, current \u00a0
\n\t\t\t\t\t472 \u00a0
\n\t\t\t\t\t257 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther receivables, non-current \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t273 \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,648 \u00a0
\n\t\t\t\t\t1,518 \u00a0
\n\t\t\t\t\tLoans, advances and receivables \u00a0
\n\t\t\t\t\t10,177 \u00a0
\n\t\t\t\t\t18,461 \u00a0
\n\t\t\t\t\t30,635 \u00a0
\n\t\t\t\t\t27,366 \u00a0
\n\t\t\t\t\tDebt to subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, current \u00a0
\n\t\t\t\t\t815 \u00a0
\n\t\t\t\t\t943 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tFinance lease liabilities, non-current \u00a0
\n\t\t\t\t\t13,128 \u00a0
\n\t\t\t\t\t15,751 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank loans \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther non-current liabilities \u00a0
\n\t\t\t\t\t3,263 \u00a0
\n\t\t\t\t\t2,173 \u00a0
\n\t\t\t\t\t287 \u00a0
\n\t\t\t\t\t244 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t1,715 \u00a0
\n\t\t\t\t\t1,447 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tIncome tax payable \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t901 \u00a0
\n\t\t\t\t\t756 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t436 \u00a0
\n\t\t\t\t\t2,504 \u00a0
\n\t\t\t\t\t32,856 \u00a0
\n\t\t\t\t\t29,342 \u00a0
\n\t\t\t\t\tFinancial liabilities \u00a0
\n\t\t\t\t\t20,612 \u00a0
\n\t\t\t\t\t23,814 \u00a0
\n\t\t\t\t\tFinance lease liabilities are measured at fair value, while other remaining liabilities are measured at amortised cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2000": {
"value": "The Group\u2019s risk management policy \u00a0
\n\t\t\t\t\tRisk management is an integral part of the day-to-day management of the business and is subject to continuous review by Management. Management \u00a0
\n\t\t\t\t\tbelieves that all material risks, apart from financial risks, concern supplier-customer relations. Due to the nature of its operations and capitalisation, \u00a0
\n\t\t\t\t\tthe Group is not particularly exposed to fluctuations in exchange rates and interest rates. The Group pursues a low-risk profile, with currency, interest \u00a0
\n\t\t\t\t\trate and credit risks arising only in connection with commercial relations. It is the Group\u2019s policy not to actively speculate in financial risks. \u00a0
\n\t\t\t\t\tThe Group manages its financial risks by means of a model for managing its cash budgeting covering a period of 1 year. \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tUnhedged net position at balance sheet date: \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t6,832 \u00a0
\n\t\t\t\t\t2,672 \u00a0
\n\t\t\t\t\t(18,391) \u00a0
\n\t\t\t\t\t(8,887) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(8,887) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,221) \u00a0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t7,139 \u00a0
\n\t\t\t\t\t2,672 \u00a0
\n\t\t\t\t\t(20,612) \u00a0
\n\t\t\t\t\t(10,801) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(10,801) \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t15,998 \u00a0
\n\t\t\t\t\t1,984 \u00a0
\n\t\t\t\t\t(21,838) \u00a0
\n\t\t\t\t\t(3,856) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(3,856) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,976) \u00a0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t16,204 \u00a0
\n\t\t\t\t\t1,984 \u00a0
\n\t\t\t\t\t(23,814) \u00a0
\n\t\t\t\t\t(5,626) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(5,626) \u00a0
-
\n\t\t\t\t\t-
\n\t\t\t\t\t24. FINANCIAL RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t(30,635) \u00a0
\n\t\t\t\t\t(29,294) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(29,294) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(2,221) \u00a0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,914) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t307 \u00a0
\n\t\t\t\t\t1,341 \u00a0
\n\t\t\t\t\t(32,856) \u00a0
\n\t\t\t\t\t(31,208) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(31,208) \u00a0
\n\t\t\t\t\tCash, \u00a0
\n\t\t\t\t\tUnhedged \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tdeposits and \u00a0
\n\t\t\t\t\tNet \u00a0
\n\t\t\t\t\tOf which \u00a0
\n\t\t\t\t\tnet \u00a0
\n\t\t\t\t\tsecurities \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\thedged \u00a0
\n\t\t\t\t\tposition, \u00a0
\n\t\t\t\t\tCurrency \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\t(27,366) \u00a0
\n\t\t\t\t\t(26,054) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(26,054) \u00a0
\n\t\t\t\t\tDKK \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,976) \u00a0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(1,770) \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t206 \u00a0
\n\t\t\t\t\t1,312 \u00a0
\n\t\t\t\t\t(29,342) \u00a0
\n\t\t\t\t\t(27,824) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t(27,824) \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tCredit risk \u00a0
\n\t\t\t\t\tThe Group\u2019s credit risks associated with financial activities correspond to the amounts recognised in the balance sheet. The Group assesses the need \u00a0
\n\t\t\t\t\tfor insurance on individual debtors on an ongoing basis. This assessment is based on the individual debtor's present and expected future commitment \u00a0
\n\t\t\t\t\tto the Group. \u00a0
\n\t\t\t\t\tThe primary credit risk of the Group is associated with trade receivables. No special credit risks are found to exist in this regard. \u00a0
Capital management \u00a0
\n\t\t\t\t\tThe Group evaluates the need to adapt its capital structure on an ongoing basis. Management believes that the financing of the Group's future \u00a0
\n\t\t\t\t\toperations will be secured with the existing financial resources and cash flows from operating activities. \u00a0
\n\t\t\t\t\tAs regards the free cash flow generated by the Group, first priority is to allocate free cash flows to the Group's continued expansion and shareholder \u00a0
\n\t\t\t\t\tdividends. \u00a0
\n\t\t\t\t\tFor the Group, equity as a percentage of total equity and liabilities at the end of 2022 was 74.9% (2021: 72.7%). The realised return on equity for the \u00a0
\n\t\t\t\t\tGroup for 2022 was 15.7% (2021: 22.0%). \u00a0
The Group\u2019s financial gearing at the balance sheet date is calculated as follows: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank debt \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t(307) \u00a0
\n\t\t\t\t\t(820) \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t(7,139) \u00a0
\n\t\t\t\t\t(16,204) \u00a0
\n\t\t\t\t\t726 \u00a0
\n\t\t\t\t\t156 \u00a0
\n\t\t\t\t\tNet interest-bearing debt \u00a0
\n\t\t\t\t\t(6,106) \u00a0
\n\t\t\t\t\t(15,228) \u00a0
\n\t\t\t\t\t62,131 \u00a0
\n\t\t\t\t\t65,515 \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\t150,896 \u00a0
\n\t\t\t\t\t131,367 \u00a0
\n\t\t\t\t\t0.01 \u00a0
\n\t\t\t\t\t0.00 \u00a0
\n\t\t\t\t\tFinancial gearing \u00a0
\n\t\t\t\t\t(0.04) \u00a0
\n\t\t\t\t\t(0.12) \u00a0
Liquidity and capital resources \u00a0
\n\t\t\t\t\tAt Group level, free cash and cash equivalents amounted to DKK 7.1 million at 31 December 2022, of which DKK 4.8 million are attributable to CeMat \u00a0
\n\t\t\t\t\t'70 S.A. \u00a0
\n\t\t\t\t\tBased on expectations for 2023, Management believes that the existing capital resources and the expected future cash flows will be sufficient to \u00a0
\n\t\t\t\t\tmaintain operations and finance planned investments. \u00a0
\n\t\t\t\t\tThe Group\u2019s budgets, and consequently also its future capital resources, are inherently subject to risk since the extent and timing of cash flow \u00a0
\n\t\t\t\t\tfluctuations will have an impact on the Group\u2019s capital resources. Management believes that any negative deviations in its operations relative to \u00a0
\n\t\t\t\t\tbudgeted cash flows can be mitigated on a timely basis by cash flow-enhancing measures. \u00a0
Risk related to obtaining external financing \u00a0
\n\t\t\t\t\tThe real estate development business, in which the Group intends to operate, requires significant initial expenditures to purchase land and to cover \u00a0
\n\t\t\t\t\tconstruction, infrastructure, and design costs. As such, the Group, in order to continue and develop its business, require significant amounts of cash \u00a0
\n\t\t\t\t\tthrough external financing by banks. The Group\u2019s ability to obtain such financing depend on many factors, in particular, on market conditions which \u00a0
\n\t\t\t\t\tare beyond the Group\u2019s control. In the event of difficulties to obtain the required financing, there is a risk that the scale of the Group\u2019s development \u00a0
\n\t\t\t\t\tand pace of achieving its strategic objectives may differ from what was originally planned. In such situation as described above, there is no certainty \u00a0
\n\t\t\t\t\twhether the Group will be able to obtain the required financing, nor whether financial resources will be obtained under conditions that are favourable \u00a0
\n\t\t\t\t\tto the Group. \u00a0
\n\t\t\t\t\tLoans that the Company intends to obtain will be against variable interest rates that are based on WIBOR rates plus a margin. Therefore, changes in \u00a0
\n\t\t\t\t\tthe WIBOR rates will have impact on the cash flow and the profitability of the Company. \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tAvailability of mortgages \u00a0
\n\t\t\t\t\tThe demand for residential real estate largely depends on the availability of credits and loans for financing the purchase of apartments and houses \u00a0
\n\t\t\t\t\tby individuals. Possible increase in interest rates, deterioration of the economic situation in Poland, the pandemic situation and the increase in \u00a0
\n\t\t\t\t\tunemployment in Poland as well as possible administrative restrictions on lending activities of the banks may cause a drop in demand for apartments \u00a0
\n\t\t\t\t\tand houses, and therefore a decrease in interest from potential buyers in the Company's development projects, which in turn may have a significant \u00a0
\n\t\t\t\t\tadverse impact on activities, financial standing or performance of the Company. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2009": {
"value": "Currency risk \u00a0
\n\t\t\t\t\tCurrency risk constitutes the risk of losses (or the possibility of gains) when exchange rates change. Currency risk arises when income and expense \u00a0
\n\t\t\t\t\titems in foreign currency are recognised in profit or loss or from the value adjustment of balance sheet items denominated in other currencies. \u00a0
\n\t\t\t\t\tThe Group\u2019s sales are primarily settled in PLN and cost items are typically settled in DKK or PLN. The Group does not use derivative financial \u00a0
\n\t\t\t\t\tinstruments to hedge currency risks from cash flows or balance sheet items. Instead, the Group uses foreign currency to settle same-currency debt \u00a0
\n\t\t\t\t\titems, which generally reduces currency risk. \u00a0
The Group\u2019s financial gearing at the balance sheet date is calculated as follows: \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\tBank debt \u00a0
\n\t\t\t\t\t1,033 \u00a0
\n\t\t\t\t\t976 \u00a0
\n\t\t\t\t\t(307) \u00a0
\n\t\t\t\t\t(820) \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t(7,139) \u00a0
\n\t\t\t\t\t(16,204) \u00a0
\n\t\t\t\t\t726 \u00a0
\n\t\t\t\t\t156 \u00a0
\n\t\t\t\t\tNet interest-bearing debt \u00a0
\n\t\t\t\t\t(6,106) \u00a0
\n\t\t\t\t\t(15,228) \u00a0
\n\t\t\t\t\t62,131 \u00a0
\n\t\t\t\t\t65,515 \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\t150,896 \u00a0
\n\t\t\t\t\t131,367 \u00a0
\n\t\t\t\t\t0.01 \u00a0
\n\t\t\t\t\t0.00 \u00a0
\n\t\t\t\t\tFinancial gearing \u00a0
\n\t\t\t\t\t(0.04) \u00a0
\n\t\t\t\t\t(0.12) \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2011": {
"value": "24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tCredit risk \u00a0
\n\t\t\t\t\tThe Group\u2019s credit risks associated with financial activities correspond to the amounts recognised in the balance sheet. The Group assesses the need \u00a0
\n\t\t\t\t\tfor insurance on individual debtors on an ongoing basis. This assessment is based on the individual debtor's present and expected future commitment \u00a0
\n\t\t\t\t\tto the Group. \u00a0
\n\t\t\t\t\tThe primary credit risk of the Group is associated with trade receivables. No special credit risks are found to exist in this regard. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2012": {
"value": "Liquidity and capital resources \u00a0
\n\t\t\t\t\tAt Group level, free cash and cash equivalents amounted to DKK 7.1 million at 31 December 2022, of which DKK 4.8 million are attributable to CeMat \u00a0
\n\t\t\t\t\t'70 S.A. \u00a0
\n\t\t\t\t\tBased on expectations for 2023, Management believes that the existing capital resources and the expected future cash flows will be sufficient to \u00a0
\n\t\t\t\t\tmaintain operations and finance planned investments. \u00a0
\n\t\t\t\t\tThe Group\u2019s budgets, and consequently also its future capital resources, are inherently subject to risk since the extent and timing of cash flow \u00a0
\n\t\t\t\t\tfluctuations will have an impact on the Group\u2019s capital resources. Management believes that any negative deviations in its operations relative to \u00a0
\n\t\t\t\t\tbudgeted cash flows can be mitigated on a timely basis by cash flow-enhancing measures. \u00a0
Risk related to obtaining external financing \u00a0
\n\t\t\t\t\tThe real estate development business, in which the Group intends to operate, requires significant initial expenditures to purchase land and to cover \u00a0
\n\t\t\t\t\tconstruction, infrastructure, and design costs. As such, the Group, in order to continue and develop its business, require significant amounts of cash \u00a0
\n\t\t\t\t\tthrough external financing by banks. The Group\u2019s ability to obtain such financing depend on many factors, in particular, on market conditions which \u00a0
\n\t\t\t\t\tare beyond the Group\u2019s control. In the event of difficulties to obtain the required financing, there is a risk that the scale of the Group\u2019s development \u00a0
\n\t\t\t\t\tand pace of achieving its strategic objectives may differ from what was originally planned. In such situation as described above, there is no certainty \u00a0
\n\t\t\t\t\twhether the Group will be able to obtain the required financing, nor whether financial resources will be obtained under conditions that are favourable \u00a0
\n\t\t\t\t\tto the Group. \u00a0
\n\t\t\t\t\tLoans that the Company intends to obtain will be against variable interest rates that are based on WIBOR rates plus a margin. Therefore, changes in \u00a0
\n\t\t\t\t\tthe WIBOR rates will have impact on the cash flow and the profitability of the Company. \u00a0
24. FINANCIAL
RISKS AND FINANCIAL INSTRUMENTS (CONTINUED) \u00a0
\n\t\t\t\t\tAvailability of mortgages \u00a0
\n\t\t\t\t\tThe demand for residential real estate largely depends on the availability of credits and loans for financing the purchase of apartments and houses \u00a0
\n\t\t\t\t\tby individuals. Possible increase in interest rates, deterioration of the economic situation in Poland, the pandemic situation and the increase in \u00a0
\n\t\t\t\t\tunemployment in Poland as well as possible administrative restrictions on lending activities of the banks may cause a drop in demand for apartments \u00a0
\n\t\t\t\t\tand houses, and therefore a decrease in interest from potential buyers in the Company's development projects, which in turn may have a significant \u00a0
\n\t\t\t\t\tadverse impact on activities, financial standing or performance of the Company. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2015": {
"value": "26. FEE
FOR AUDITORS APPOINTED BY THE GENERAL MEETING \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t140 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\tAudit of annual report \u00a0
\n\t\t\t\t\t263 \u00a0
\n\t\t\t\t\t258 \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\tNon-audit services \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t188 \u00a0
\n\t\t\t\t\t161 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t311 \u00a0
\n\t\t\t\t\t284 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2016": {
"value": "27. RELATED
PARTIES \u00a0
\n\t\t\t\t\tThe Group has no related parties exercising control. \u00a0
\n\t\t\t\t\tThe Group has the following related parties: \u00a0
\n\t\t\t\t\t\u2022 Ambit
Jaros\u0142aw Lipi\u0144ski, owned by member of the Management Board \u00a0
\n\t\t\t\t\tThe parent company has the following related parties: \u00a0
\n\t\t\t\t\t\u2022 CeMat
Real Estate S.A., subsidiary in Poland \u00a0
\n\t\t\t\t\t\u2022 CeMat
'70 S.A., subsidiary in Poland \u00a0
\n\t\t\t\t\tThe parent company had transactions with the following related parties in 2021 and 2022: \u00a0
\n\t\t\t\t\t\u2022 CeMat
Real Estate S.A., subsidiary in Poland \u00a0
\n\t\t\t\t\t\u2022 CeMat
'70 S.A., subsidiary in Poland \u00a0
28. RELATED
PARTY TRANSACTIONS \u00a0
\n\t\t\t\t\tPARENT COMPANY \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDKK'000 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t54 \u00a0
\n\t\t\t\t\t55 \u00a0
\n\t\t\t\t\tSubsidiaries, interest income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,147 \u00a0
\n\t\t\t\t\t1,083 \u00a0
\n\t\t\t\t\tSubsidiaries, interest expenses \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t1,201 \u00a0
\n\t\t\t\t\t1,138 \u00a0
\n\t\t\t\t\tTotal transactions \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tOther management remuneration etc. is stated separately in connection with note 4 \u201cStaff costs\u201d. \u00a0
29. SHAREHOLDER
INFORMATION \u00a0
\n\t\t\t\t\tThe parent company has registered the following shareholders holding more than 5% of the voting rights or nominal value of the share capital as at \u00a0
\n\t\t\t\t\t31.12.2022 \u00a0
\n\t\t\t\t\tComposition of shareholders \u00a0
\n\t\t\t\t\tNumber of shares \u00a0
\n\t\t\t\t\tCapital DKK \u00a0
\n\t\t\t\t\tCapital % \u00a0
\n\t\t\t\t\tEDJ-Gruppen Havnegade 19 6700 Esbjerg, Denmark \u00a0
\n\t\t\t\t\t81,250,000 \u00a0
\n\t\t\t\t\t1,625,000.00 \u00a0
\n\t\t\t\t\t32.52 \u00a0
\n\t\t\t\t\tGist Holding ApS C.F Richs Vej 31 \u00a0
\n\t\t\t\t\t25,691,023 \u00a0
\n\t\t\t\t\t513,820.46 \u00a0
\n\t\t\t\t\t10.28 \u00a0
30. BOARD
OF DIRECTORS AND MANAGEMENT BOARD \u00a0
\n\t\t\t\t\tThe Board of Directors and Management Board of CeMat A/S hold shares in CeMat A/S. \u00a0
\n\t\t\t\t\tShareholding, \u00a0
\n\t\t\t\t\tnominal value, DKK'000 \u00a0
\n\t\t\t\t\tShares (own and related parties*) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tFrede Clausen, Chairman \u00a0
\n\t\t\t\t\t190 \u00a0
\n\t\t\t\t\t190 \u00a0
\n\t\t\t\t\tEivind Dam Jensen (EDJ-Gruppen), Deputy Chairman \u00a0
\n\t\t\t\t\t1,625 \u00a0
\n\t\t\t\t\t1,625 \u00a0
\n\t\t\t\t\tJoanna Iwanowska-Nielsen, Member of the Board of Directors \u00a0
\n\t\t\t\t\t22 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tJaros\u0142aw Lipi\u0144ski, CEO \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,877 \u00a0
\n\t\t\t\t\t1,871 \u00a0
\n\t\t\t\t\t* Related parties are Management's close family and companies in which they hold managerial positions or directorships. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2020": {
"value": "30. BOARD
OF DIRECTORS AND MANAGEMENT BOARD \u00a0
\n\t\t\t\t\tThe Board of Directors and Management Board of CeMat A/S hold shares in CeMat A/S. \u00a0
\n\t\t\t\t\tShareholding, \u00a0
\n\t\t\t\t\tnominal value, DKK'000 \u00a0
\n\t\t\t\t\tShares (own and related parties*) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tFrede Clausen, Chairman \u00a0
\n\t\t\t\t\t190 \u00a0
\n\t\t\t\t\t190 \u00a0
\n\t\t\t\t\tEivind Dam Jensen (EDJ-Gruppen), Deputy Chairman \u00a0
\n\t\t\t\t\t1,625 \u00a0
\n\t\t\t\t\t1,625 \u00a0
\n\t\t\t\t\tJoanna Iwanowska-Nielsen, Member of the Board of Directors \u00a0
\n\t\t\t\t\t22 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tJaros\u0142aw Lipi\u0144ski, CEO \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1,877 \u00a0
\n\t\t\t\t\t1,871 \u00a0
\n\t\t\t\t\t* Related parties are Management's close family and companies in which they hold managerial positions or directorships. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2021": {
"value": "31. EVENTS
AFTER THE BALANCE SHEET DATE \u00a0
\n\t\t\t\t\tNo significant events have occurred after the balance sheet date. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1049": {
"value": "OSLO PLADS 2, 2100 K\u00d8BENHAVN \u00d8",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:213800899MWAZT9KQZ78",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
}
}
}