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"2021-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f14574": { "value": "62340000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f14578": { "value": "46690000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00", "unit": "iso4217:NOK" } }, "s9_notes__8__5": { "value": "Note 1 General informationThe Company and the GroupWebstep ASA, the parent company (\u201cthe Company\u201d) of theWebstep Group (\u201cthe Group\u201d) is a limited liability companyincorporated and domiciled in Norway, with its head o\ufb03ce atRebel, Universitetsgata 2, 0164 Oslo, Norway.\ue7ebThe Company and its subsidiaries (together \u201cthe WebstepGroup\u201d/\u201dthe Group\u201d) are leading providers of IT expertconsultant services in Norway and Sweden. The Group aims tobe at the forefront of technological development and to assistits customers in their digitalization through the offering ofcutting-edge IT expertise. The Group\u2019s core offerings aredigitalization, cloud migration and integration, in addition to itsother focus areas Internet of Things (IoT), machine learning, ITsecurity, robotics and analytics.These consolidated financial statements have been approvedfor issuance by the Board of Directors on 12 April 2023 and aresubject to approval by the Annual General Meeting on 4 May2023.Note 2 Significant accounting principlesBasis for preparationThe consolidated financial statements at 31 December 2022for Webstep ASA have been prepared in accordance with theInternational Financial Reporting Standards (IFRS) as adoptedby the European Union.\ue7ebThe consolidated financial statements for the year ended 31December 2022 were authorised for issue by the Board ofDirectors on 12 April 2023.The consolidated financial statements are presented inNorwegian kroner (NOK) and all values are rounded to thenearest thousand (NOK 000\u2019s), except when otherwiseindicated.The format for presenting the income statement is based onthe nature of the expenditure.Going concernThe Group has adopted the going concern basis in preparingits consolidated financial statements. When assessing thisassumption, management has assessed all availableinformation about the future. This comprises informationabout net cash \ufb02ows from existing contracts and debt serviceobligations. Forecasts take into consideration expected futurenet income. Management has a reasonable expectation thatthe Group has adequate resources to continue its operationalexistence for the foreseeable future.\ue7eb\ue7ebBasis of measurement\ue7ebThe consolidated financial statements have been preparedunder the historical cost convention.The preparation of financial statements in conformity with IFRSrequires the use of certain critical accounting estimates.It also requires management to exercise its judgement in theprocess of applying the Group's accounting policies. The areasinvolving higher degree of judgement or complexity, or areaswhere the assumptions and estimates are significant to theconsolidated financial statements are disclosed in note 3.\ue7ebBasis of consolidationThe consolidated financial statements comprise the financialstatements of the Group and its subsidiaries as at 31December 2022. Control is achieved when the Group isexposed, or has rights, to variable returns from its involvementwith the investee and has the ability to affect those returnsthrough its power over the investee. The Group re-assesseswhether or not it controls an investee if facts andcircumstances indicate that there are changes to one or moreof the three elements of control. Consolidation of a subsidiarybegins when the Group obtains control over the subsidiary andceases when the Group loses control of the subsidiary. Assets,liabilities, income and expenses of a subsidiary acquired ordisposed of during the year are included in the consolidatedfinancial statements from the date the Group gains controluntil the date the Group ceases to control the subsidiary.Profit or loss and each component of other comprehensiveincome (\u201cOCI\u201d) are attributed to the equity holders of the parentof the Group and to the non-controlling interests, even if thisresults in the non-controlling interests having a deficit balance.When necessary, adjustments are made to the financialstatements of subsidiaries to bring their accounting policiesinto line with the Group\u2019s accounting policies. All intra-groupassets and liabilities, equity, income, expenses and cash \ufb02owsrelating to transactions between members of the Group areeliminated in full on consolidation.A change in the ownership interest of a subsidiary, without aloss of control, is accounted for as an equity transaction. If theGroup loses control over a subsidiary, it derecognises therelated assets (including goodwill), liabilities, non-controllinginterest and other components of equity, while any resultantgain or loss is recognised in profit or loss. Any investmentretained is recognised at fair value.Foreign currency translationThe Group\u2019s consolidated financial statements are presented inNorwegian kroner (NOK), which is also the parent company\u2019sfunctional currency. For each entity, the Group determines thefunctional currency and items included in the financialstatements of each entity are measured using that functionalcurrency.Transactions in foreign currencies are initially recorded by theGroup\u2019s entities at their respective functional currency spotrates at the date the transaction first qualifies for recognition.Receivables, debt and other monetary items denominated inforeign currencies are translated using the exchange rate at thebalance sheet date. Differences between the exchange rate atthe balance sheet date and the date on which the receivable ordebt arose, or was included in the latest balance sheet, arerecognised in the income statement and presented as financialincome and expenses.Differences in exchange rates arising from the translation offoreign subsidiaries\u2019 equity at the beginning of the year at theexchange rates at the balance sheet date and from thetranslation of income statements from the monthly averageexchange rates for the currency exchange rates at the balancesheet date are recognised directly in other comprehensiveincome.Segment reportingOperating segments are reported by country of operation,which currently is Norway and Sweden. The board of WebstepASA has appointed a strategic steering committee whichassesses the financial performance and position of the Groupand makes strategic decisions. The steering committee, whichhas been identified as being the chief operating decisionmaker, consists of the chief executive o\ufb03cer (CEO) and thechief financial o\ufb03cer (CFO).Changes in accounting policies and disclosuresStandards issued but not yet effectiveThe new and amended standards and interpretations that areissued, but not yet effective, up to the date of issuance of theGroup\u2019s financial statements are disclosed below. The Groupintends to adopt these new and amended standards andinterpretations, if applicable, when they become effective.Amendments to IAS 1: Classification of Liabilities as Currentor Non-currentIn January 2020, the IASB issued amendments to paragraphs69 to 76 of IAS 1 to specify the requirements for classifyingliabilities as current or non-current. The amendments clarify:\u2022 What is meant by a right to defer settlement\u2022 That a right to defer must exist at the end of the reportingperiod\u2022 That classification is unaffected by the likelihood that anentity will exercise its deferral right\u2022 That only if an embedded derivative in a convertible liability isitself an equity instrument would the terms of a liability notimpact its classificationThe amendments are effective for annual reporting periodsbeginning on or after 1 January 2023 and must be appliedretrospectively. The standard is assessed to have no impact onthe Group\u2019s reporting.New and amended standards and interpretationsThe Group has not early adopted any new standard,interpretation or amendment that has been issued but is notyet effective.Amendments to IFRS 3: Definition of a BusinessThe amendment to IFRS 3 Business Combinations clarifies thatto be considered a business, an integrated set of activities andassets must include, at a minimum, an input and a substantiveprocess that, together, significantly contribute to the ability tocreate output. Furthermore, it clarifies that a business can existwithout including all of the inputs and processes needed tocreate outputs. These amendments had no impact on theconsolidated financial statements of the Group, but mayimpact future periods should the Group enter into any businesscombinations.Amendments to IFRS 7, IFRS 9 and IAS 39 Interest RateBenchmark ReformThe amendments to IFRS 9 and IAS 39 Financial Instruments:Recognition and Measurement provide a number of reliefs,which apply to all hedging relationships that are directlyaffected by interest rate benchmark reform. A hedgingrelationship is affected if the reform gives rise to uncertaintyabout the timing and/or amount of benchmark-based cash\ufb02ows of the hedged item or the hedging instrument. Theseamendments have no impact on the consolidated financialstatements of the Group as it does not have any interest ratehedge relationships.Amendments to IAS 1 and IAS 8 Definition of MaterialThe amendments provide a new definition of material thatstates, \u201cinformation is material if omitting, misstating orobscuring it could reasonably be expected to in\ufb02uencedecisions that the primary users of general purpose financialstatements make on the basis of those financial statements,which provide financial information about a specific reportingentity.\u201d The amendments clarify that materiality will depend onthe nature or magnitude of information, either individually or incombination with other information, in the context of thefinancial statements. A misstatement of information ismaterial if it could reasonably be expected to in\ufb02uencedecisions made by the primary users. These amendments hadno impact on the consolidated financial statements of, nor isthere expected to be any future impact to, the Group.Summary of significant accounting policiesRevenues from contracts with customersThe Group is in the business of selling IT-consultancymanhours to its customers. Revenue for IT- services are to berecognised over time because the customer simultaneouslyreceives and consumes the benefits provided by the Group, andsatisfies each of its performance obligations (that is, it fulfilsits promises to the customer) over time by transferring controlof the promised service underlying that performance obligationto the customer. The fact that another entity would not need tore-perform the services that the Group has provided to datedemonstrates that the customer simultaneously receives andconsumes the benefits of the group\u2019s performance as itperforms. The input method is considered to be the bestmethod when recognising revenue over time because there is adirect relationship between the group\u2019s effort (i.e., labour hoursincurred) and the transfer of service to the customer. Thecontracts are normally based on service agreements withhourly fees. Fixed price contracts are recognised as revenueaccording to the stage of completion, using an input method tomeasure progress towards complete satisfaction of theservice, because the customer simultaneously receives andconsumes the benefits provided by the group. The inputmethod used to measure progress is based on the number ofhours worked, as this is considered to provide a faithfuldepiction of the transfer of services.Estimated loss on contracts will be recognised in the incomestatement in its entirety in the period when it has beenidentified.Contract balancesContract assetsA contract asset is initially recognised for revenue earned frombillable hours delivered yet not invoiced the customer. Whenthe billable hours are invoiced, the invoiced amount istransferred to trade receivables. Contract assets are subject toimpairment assessment.Trade receivablesA receivable is recognised if an amount of consideration that isunconditional is due from the customer.Contract liabilitiesA contract liability is recognised if a payment is received or apayment is due from the customer before the Group transfersthe related services. Contract liabilities are recognised asrevenue when the Group performs under the contract anddelivers or transfers the services to the customer.Cost of goods and services (COGS)Cost of goods and services is recognised at the point in timewhen the corresponding service or good is delivered to thecustomer. Cost of goods and services mainly comprises costto subcontractors which are engaged by the Group to deliverconsultancy hours to the customers.Salaries and personnel expensesSalaries and personnel expenses include salaries and wages,as well as social benefits, pensions, etc. for the Group\u2019semployees.Other operating expensesOther operating expenses include expenditure for sales,marketing, advertising, IT, administration, facilities, etc.\ue7ebFinance income and expense\u201cFinance income\u201d and \u201cFinance expense\u201d respectively, includeinterest, capital gains and losses concerning securities, debtand exchange differences on transactions in foreign currency.Government grantsFor contributions received accounted for as government grantsrelated to income under IAS 20, the accounting policy of theGroup is to recognize such grants when there is reasonableassurance that the conditions attaching to the grant will becomplied with and that the grants will be received. The grantsare recognized as income unless directly related to specificitems of expense.Taxes\ue7ebThe income tax expense or credit for the period is the taxpayable on the current period\u2019s taxable income based on theapplicable income tax rate for each jurisdiction adjusted bychanges in deferred tax assets and liabilities attributable totemporary differences and tax losses carried forward.The current income tax charge is calculated on the basis of thetax laws enacted or substantively enacted at the end of thereporting period in Norway and Sweden where the Groupoperates and generates taxable income. Managementperiodically evaluates positions taken in tax returns withrespect to situations in which applicable tax regulation issubject to interpretation. It establishes provisions whereappropriate on the basis of amounts expected to be paid to thetax authorities.Deferred income tax is provided in full, using the liabilitymethod, on temporary differences arising between the taxbases of assets and liabilities and their carrying amounts in theconsolidated financial statements. However, deferred taxliabilities are not recognised if they arise from the initialrecognition of goodwill.Deferred income tax is also not accounted for if it arises frominitial recognition of an asset or liability in a transaction otherthan a business combination that at the time of the transactionaffects neither accounting nor taxable profit or loss. Deferredincome tax is determined using tax rates (and tax laws) thathave been enacted or substantially enacted by the end of thereporting period and are expected to apply when the relateddeferred income tax asset is realised or the deferred incometax liability is settled.Deferred tax assets are recognised only if it is probable thatfuture taxable amounts will be available to utilise thosetemporary differences and losses.Intangible assetsIntangible assets acquired separately are measured on initialrecognition at cost. The cost of intangible assets acquired in abusiness combination is their fair value at the date ofacquisition. Following initial recognition, intangible assets arecarried at cost less any accumulated amortisation andaccumulated impairment losses.Internally generated intangibles, excluding capitaliseddevelopment costs, are not capitalised and the relatedexpenditure is re\ufb02ected in profit or loss in the period in whichthe expenditure is incurred.The useful lives of intangible assets are assessed as eitherfinite or indefinite.Intangible assets with finite lives are amortised over the usefuleconomic life and assessed for impairment whenever there isan indication that the intangible asset may be impaired. Theamortisation period and the method are reviewed at least atthe end of each reporting period. Changes in the expecteduseful life or the expected pattern of consumption of futureeconomic benefits are considered to modify the amortisationperiod or method, as appropriate, and are treated as changesin accounting estimates.Intangible assets with an indefinite economic life are tested forimpairment at least once a year, either individually or as a partof a cash-generating unit. Intangible assets with an indefiniteeconomic life are not amortised. Economic life is assessedannually with regard to whether the assumption of an indefiniteeconomic life can be justified. If it cannot, the change to adefinite economic life is made prospectively.Research and development costsExpenses relating to research activities are recognised in thestatement of comprehensive income as they incur. Expensesrelating to development activities are capitalised to the extentthat the product or process is technically and commerciallyviable and the Group has su\ufb03cient resources to complete thedevelopment work. Expenses that are capitalised include thecosts of materials, direct wage costs and a share of thedirectly attributable common expenses. Capitaliseddevelopment costs are recognised at their cost lessaccumulated depreciation and accumulated impairmentlosses. Depreciation of the asset begins when development iscomplete and the asset is available for use. Capitaliseddevelopment costs are depreciated on a straight-line basisover the period of expected future benefits. During the periodof development, the asset is tested for impairment annually.Business combination and goodwillBusiness combinations are accounted for using the acquisitionmethod. The cost of an acquisition is measured as theaggregate of the consideration transferred, which is measuredat acquisition date, fair value, and the amount of anynon-controlling interests in the acquiree. For each businesscombination, the Group elects whether to measure thenon-controlling interests in the acquiree at fair value or at theproportionate share of the acquiree\u2019s identifiable net assets.Acquisition-related costs are expensed as incurred andincluded in administrative expenses.When the Group acquires a business, it assesses the financialassets and liabilities assumed for appropriate classificationand designation in accordance with the contractual terms,economic circumstances and pertinent conditions as at theacquisition date. Goodwill is initially measured at cost (beingthe excess of the aggregate of the consideration transferredand the amount recognised for non-controlling interests andany previous interest held over the net identifiable assetsacquired and liabilities assumed). If the fair value of the netassets acquired is in excess of the aggregate considerationtransferred, the Group re-assesses whether it has correctlyidentified all of the assets acquired and all of the liabilitiesassumed and reviews the procedures used to measure theamounts to be recognised at the acquisition date. If thereassessment still results in an excess of the fair value of netassets acquired over the aggregate consideration transferred,then the gain is recognised in profit or loss.After initial recognition, goodwill is measured at cost less anyaccumulated impairment losses. For the purpose ofimpairment testing, goodwill acquired in a businesscombination is, from the acquisition date, allocated to each ofthe Group\u2019s cash-generating units that are expected to benefitfrom the combination, irrespective of whether other assets orliabilities of the acquiree are assigned to those units.Goodwill is tested for impairment annually as at 31 Decemberand when circumstances indicate that the carrying value maybe impaired. Impairment is determined for goodwill byassessing the recoverable amount of each CGU (or group ofCGUs) to which the goodwill relates. The Group bases itsimpairment calculation on detailed budgets and forecastcalculations, which are prepared separately for each of theGroup\u2019s CGUs to which the individual assets are allocated.These budgets and forecast calculations generally cover aperiod of five years. A long-term growth rate is calculated andapplied to project future cash \ufb02ows after the fifth year. Whenthe recoverable amount of the CGU is less than its carryingamount, an impairment loss is recognised. Impairment lossesrelating to goodwill cannot be reversed in future periods.Current versus non-current classificationAn asset is classified as current when it is expected to berealised or sold, or to be used in the Group's normal operatingcycle or falls due or is expected to be realised within 12months after the end of the reporting period. Other assets areclassified as non-current. Liabilities are classified as currentwhen they are expected to be settled in the normal operatingcycle of the Group, are held for trading, are expected to besettled within 12 months of the end of the reporting period, orif the group does not have an unconditional right to postponesettlement for at least 12 months after the reporting date.Provisions for obligations and other liabilities are classified asnon-current.Property, plant and equipmentO\ufb03ce machinery and operating equipment are measured atcost less accumulated depreciation.\ue7ebWhere individual components of an item of property, plant andequipment have different useful lives, they are depreciatedseparately. Depreciation is provided on a straight-line basisover the expected useful lives of the assets/components.Depreciation on machinery and operating equipment is linearover the expected useful lives of the assets based on thefollowing assessments of the expected useful lives of theassets: \ue7eb\u25cf O\ufb03ce machinery 3-5 years \ue7eb\ue7eb\ue7eb\u25cf Operating equipment 3-5 years\ue7ebImpairment of assetsThe carrying amount of intangible assets and property, plantand equipment alike is assessed annually for indications ofimpairment.Should indications of impairment occur, each asset or group ofassets, respectively, will be assessed in terms of impairment.Assets are written down to the recoverable amount if this islower than the carrying amount. The highest value of the netrealisable value and the estimated value in use is used as therecoverable amount.The value in use is calculated as the present value of theanticipated net income from the use of the asset or group ofassets.LeasesThe Group, as a lessee, assesses at contract inception whethera contract is, or contains, a lease. That is, if the contractconveys the right to control the use of an identified asset for aperiod of time in exchange for considerationThe Group, as a lessee, applies a single recognition andmeasurement approach for all leases, except for short-termleases and leases of low-value assets. The Group, as a lessee,recognises lease liabilities to make lease payments andright-of-use assets representing the right to use the underlyingassets.Right-of-use assetsThe Group recognises right-of-use assets at thecommencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured atcost, less any accumulated depreciation and impairmentlosses, and adjusted for any remeasurement of lease liabilities.The cost of right-of-use assets includes the amount of leaseliabilities recognised, initial direct costs incurred, and leasepayments made at or before the commencement date less anylease incentives received. Right-of-use assets are depreciatedon an amortisation basis, so that depreciation equalsinstalments on the lease liabilities, over the shorter of the leaseterm and the estimated useful lives of the assets, as follows:\u25cf O\ufb03ces 1-10 years\u25cf Company cars 1-3 years\ue7ebIf ownership of the leased asset transfers to the Group at theend of the lease term or the cost re\ufb02ects the exercise of apurchase option, depreciation is calculated using theestimated useful life of the asset.The Group applies IAS 36 Impairment of Assets to determinewhether the right-of-use asset is impaired and to account forany impairment loss identified.Lease liabilitiesAt the commencement date of the lease, the Group recogniseslease liabilities measured at the present value of leasepayments to be made over the lease term. The lease paymentsinclude fixed payments less any lease incentives receivable,variable lease payments that depend on an index or a rate. Thelease payments also include the exercise price of a purchaseoption reasonably certain to be exercised by the Group andpayments of penalties for terminating the lease, if the leaseterm re\ufb02ects the Group reasonably certain would be exercisingthe option to terminate. Variable lease payments that do notdepend on an index or a rate are recognised as expenses in theperiod in which the event or condition that triggers the paymentoccurs.In calculating the present value of lease payments, the Groupuses its incremental borrowing rate at the leasecommencement date because the interest rate implicit in thelease is not readily determinable. If the implicit rate isdeterminable, the implicit rate is applied. After thecommencement date, the amount of lease liabilities isincreased to re\ufb02ect the accretion of interest and reduced forthe lease payments made. In addition, the carrying amount oflease liabilities is remeasured if there is a modification, achange in the lease term, a change in the lease payments or achange in the assessment of an option to purchase theunderlying asset.The Group applies the short-term lease recognition exemptionto its short-term leases of machinery and equipment. It alsoapplies the lease of low-value assets recognition exemption toleases of equipment that are considered to be low value. Leasepayments on short-term leases and leases of low-value assetsare recognised as expenses on a straightline basis over thelease term.ReceivablesReceivables, which comprise receivables from sales, groupcompanies and other receivables are non-derivative financialassets with fixed or determinable payments that are notquoted in an active market.\ue7ebReceivables are initially measured at fair value.\ue7ebAfter initial measurement, they are subsequently measured atamortised cost using the effective interest rate method (EIR),less impairment. Amortised cost is calculated by taking intoaccount any discount or premium on acquisition and fees orcosts that are an integral part of the EIR. The EIR amortisationis included in finance income in the statement of profit or loss.\ue7ebThe losses arising from impairment are recognised in thestatement of profit or loss in finance costs for loans and incost of sales or other operating expenses for receivables.Cash and short-term depositsCash and short-term deposits in the statement of financialposition comprise cash at banks and at hand and short-termhighly liquid deposits with a maturity of three months or less,which are subject to an insignificant risk of changes in value.For the purpose of the consolidated statement of cash \ufb02ows,cash and cash equivalents consist of cash and short-termdeposits, as defined above, net of outstanding bank overdraftsas they are considered an integral part of the Group\u2019s cashmanagement.Treasury sharesOwn equity instruments that are reacquired (treasury shares)are recognised at cost and deducted from equity.No gain or loss is recognised in profit or loss on the purchase,sale, issue or cancellation of the Group\u2019s own equityinstruments. Any difference between the carrying amount andthe consideration, if reissued, is recognised in the sharepremium.\ue7ebFair value measurementThe Group measures financial instruments at fair value at eachbalance sheet date. Fair-value related disclosures for financialinstruments and non-financial assets that are measured at fairvalue or where fair values are disclosed, are summarised in thefollowing note 13.\ue7ebFair value is the price that would be received to sell an asset orpaid to transfer a liability in an orderly transaction betweenmarket participants at the measurement date. The fair valuemeasurement is based on the presumption that the transactionto sell the asset or transfer the liability takes place either in theprincipal market or, if not available, in the most advantageousmarket.\ue7ebThe principal or the most advantageous market must beaccessible by the Group.\ue7ebThe fair value of an asset or a liability is measured using theassumptions that market participants would use when pricingthe asset or liability, assuming that market participants act intheir economic best interest.A fair value measurement of a non-financial asset takes intoaccount a market participant's ability to generate economicbenefits by using the asset in its highest and best use or byselling it to another market participant that would use the assetin its highest and best use.The Group uses valuation techniques that are appropriate inthe circumstances and for which su\ufb03cient data are availableto measure fair value, maximising the use of relevantobservable inputs and minimising the use of unobservableinputs.All assets and liabilities for which fair value is measured ordisclosed in the financial statements are categorised within thefair value hierarchy, described as follows, based on the lowestlevel input that is significant to the fair value measurement as awhole:\u25cf Level 1 - Quoted (unadjusted) market prices in activemarkets for identical assets or liabilities\u25cf Level 2 - Valuation techniques for which the lowestlevel input that is significant to the fair valuemeasurement is directly or indirectly observable\u25cf Level 3 - Valuation techniques for which the lowestlevel input that is significant to the fair valuemeasurement is unobservableFor the purpose of fair value disclosures, the Group hasdetermined classes of assets and liabilities on the basis of thenature, characteristics and risks of the asset or liability and thelevel of the fair value hierarchy, as explained above.DividendsDividends are recognised when the Group\u2019s right to receive thepayment is established, which is generally when shareholdersapprove the dividend. Dividends to the Company'sshareholders are classified as a liability when the dividendsproposed have been approved by the Annual General Meeting.Employee benefitsThe Group has defined contribution pension plans. Thepension premiums are charged to expenses as they areincurred and classified as salary.Share-based paymentsEmployees, including senior executives of the Group, receiveremuneration in the form of share-based payments, wherebyemployees render services as consideration for equityinstruments (equity-settled transactions). Group employees inthe Norwegian entities have been granted shares at discountedprices, within the limit for such grants according to Norwegiantax legislation (equity-settled transactions).Equity-settled transactions\ue7eb\ue7ebThe cost of equity-settled transactions is determined by thefair value at the date when the grant is made using anappropriate valuation model. The cost is recognised inemployee benefits expense, together with a correspondingincrease in equity, over the period in which the service and theperformance conditions are fulfilled (the vesting period).\ue7eb Thecumulative expense recognised for equity-settled transactionsat each reporting date until the vesting date re\ufb02ects the extentto which the vesting period has expired and the Group's bestestimate of the number of equity instruments that willultimately vest. The expense or credit in the statement of profitor loss for a period represents the movement in cumulativeexpense recognised as at the beginning and end of that period.The dilutive effect of outstanding options is re\ufb02ected asadditional share dilution in the computation of diluted earningsper share.The discounts granted to employees in the Norwegian entitiesare recognised as a cost in salaries and personnel cost in theprofit and loss statement.Cash \ufb02ow statementThe cash \ufb02ow statement shows the Group\u2019s cash \ufb02ow for theyear divided into operating, investing and financing activitiesduring the year, as well as the year\u2019s changes in cash and cashequivalents and the Group\u2019s cash and cash equivalents at thebeginning and end of the year.Cash \ufb02ow from operating activitiesCash \ufb02ow from operating activities is presented using theindirect presentation form and is stated as the year\u2019sprofit/loss before tax plus depreciation and impairment lossesand with adjustments for changes in working capital and paidcorporate tax.Cash \ufb02ow from investing activitiesCash \ufb02ow from investing activities includes payments inconnection with the purchase and sale of non-current assets.Cash \ufb02ow from financing activitiesCash \ufb02ow from financing activities includes changes in volumeafter the pooling of the Company\u2019s share capital and relatedcosts as well as raising of loans, repayments oninterest-bearing debt, and payment of dividends to owners.Note 3 Estimates, judgments and assumptionsSignificant accounting judgement, estimates andassumptionsThe preparation of the Group\u2019s consolidated financialstatements requires management to make judgements,estimates and assumptions that affect the reported amountsof revenues, expenses, assets and liabilities, and theaccompanying disclosures, and the disclosure of contingentliabilities. Uncertainty about these assumptions and estimatescould result in outcomes that require a material adjustment tothe carrying amount of assets or liabilities affected in futureperiods.The key assumptions concerning the future and other keysources of estimation uncertainty at the reporting date, thathave a significant risk of causing a material adjustment to thecarrying amounts of assets and liabilities within the nextfinancial year, are described below.The Group based its assumptions and estimates onparameters available when the consolidated financialstatements were prepared. Existing circumstances andassumptions about future developments, however, may changedue to market changes or circumstances arising that arebeyond the control of the Group. Such changes are re\ufb02ected inthe assumptions when they occur.JudgementsIn the process of applying the Group\u2019s accounting policies,management has made the following judgements, which havethe most significant effect on the amounts recognised in theconsolidated financial statements:Estimates and assumptionsThe key assumptions concerning the future and other keysources of estimation uncertainty at the reporting date, thathave a significant risk of causing a material adjustment to thecarrying amounts of assets and liabilities within the nextfinancial year, are described below. The Group based itsassumptions and estimates on parameters available when theconsolidated financial statements were prepared. Existingcircumstances and assumptions about future developments,however, may change due to market changes or circumstancesarising that are beyond the control of the Group. Such changesare re\ufb02ected in the assumptions when they occur.Impairment of non-financial assetsImpairment exists when the carrying value of an asset orcash generating unit exceeds its recoverable amount, whichis the higher of its fair value less costs of disposal and itsvalue in use.The fair value less costs of disposal calculation is based onavailable data from binding sales transactions, conducted atarm\u2019s length, for similar assets or observable market pricesless incremental costs of disposing of the asset. The value inuse calculation is based on a DCF model. The cash \ufb02ows arederived from the strategic plans for the next five years anddo not include restructuring activities that the Group is notyet committed to or significant future investments that willenhance the performance of the assets of the CGU beingtested. The recoverable amount is sensitive to the discountrate used for the DCF model as well as the expected futurecash-in\ufb02ows and the growth rate used for extrapolationpurposes. These estimates are most relevant to goodwill andother intangibles with indefinite useful lives recognised bythe Group.The key assumptions used to determine the recoverableamount for the different CGUs are disclosed and furtherexplained in the notes.Note 4 Financial risks and financial instrumentsThe Group\u2019s principal financial liabilities comprise loans and borrowings and trade and other payables. The main purpose of thesefinancial liabilities is to finance the Group\u2019s operations.The Group\u2019s principal financial assets include trade and other receivables, and cash and short-term deposits that derive directlyfrom its operations.The Group is exposed to market risk, credit risk, and liquidity risk. The Group\u2019s Executive Directors oversee the management ofthese risks. A description of the different risks is given below.Market riskThe Group has a good order backlog and list of sales prospects, with competencies that are highly attractive in the market. Theoutlook is robust for the market for IT consultancy services. The Group acknowledge that there is a risk that macroeconomicfactors can cause a downturn in the economy and reduced demand for the Group's services. The condemnable invasion of Ukraineand the sanctions against Russia incorporated in Norwegian Law in March 2022, have not and are not expected to have a directimpact on Webstep\u2019s business activities. The consequences of the acts of war are uncertain, and Webstep is following thedevelopments closely to detect any direct or indirect consequences that may follow.In addition, market risk comprises interest rate risk, foreign currency risk and market price risk which are treated separately below.Market risk - interest rate riskThe short-term revolving credit facility is exposed to interest rate risk because of \ufb02oating interest rate conditions which makesthe Group's financial cost exposed to changes in the market rate. The Group considers this risk to be minimal due to the stablefinancial situation in Norway, combined with low level of debt and strong financial position for the Group. The Group has nolong-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has limited interest rate risk, and variation in interest expenses due to changes in Niborwould have insignificant impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout.Market risk - currency riskForeign currency risk is the risk that the fair value of future cash \ufb02ows of an exposure will \ufb02uctuate because of changes inforeign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to the Group\u2019soperating activities in Sweden (when revenue or expense is denominated in a foreign currency) and the Group\u2019s net investmentin the Swedish subsidiary.The Group has not assessed it as necessary to enter into hedging of these risks due to materiality of the exposure.The following tables demonstrate the sensitivity to a reasonably possible change in SEK exchange rates as assessed by chiefoperating decision maker, with all other variables held constant. The impact on the Group\u2019s profit before tax is due to changesin applied rate for translation of the profit in the Swedish subsidiary, while the change in pre-tax equity is due to change in thefair value of monetary assets, intangible assets, receivables and all liabilities including current and non-current leasingliabilities and all current payables, including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreigncurrency changes for all other currencies is not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202210 %6168,982(10 %)(616)(8,982)202110 %3408,580(10 %)(340)(8,580)Market risk - market price riskConsistent deliveries over time in the different market segments according to established group policies have secured alow-volatility price structure that has proven stable over time. The variable salary model for the majority of the consultants alsoreduces market risk exposure as the salary expenses to a large extent correlate with revenues.Credit riskCredit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or fail to pay amounts duecausing financial loss to the Group. The Group\u2019s exposure to credit risk is mainly related to its outstanding trade debtors (seeNote 14). Other counterparty credit risk exposure to the Group is related to its cash deposits with financial institutions. Thetable below provides an overview of financial assets exposed to credit risk at year-end 2022 and 2021. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20222021Trade and other receivables154,871144,200Cash and cash equivalents62,34046,690Total217,211190,889Climate riskBehavioural change for both the Group\u2019s customers and investors due to climate change can be a risk to the business model.Climate change can have a direct impact on the Group\u2019s customers operating in sectors most exposed to physical climate changeincluding conventional energy, heavy industry and manufacturing, transport and construction, which will further impact Webstep.Failure to comply with regulatory requirements or to meet market expectations can lead to both financial and reputational loss.The Group monitors risks related to climate change in the overall risk assessment of the Company and takes necessary action ifneeded.Trade receivablesThe Group\u2019s exposure to credit risk is in\ufb02uenced mainly by the individual characteristics of each customer. The Group engageswith large and regular customers and has had low historical losses on receivables. In response to the COVID-19 pandemic, theGroup was monitoring the economic environment and took actions to limit its exposure to customers that were severelyimpacted. In accordance with IFRS 9, receivables are recognised and carried at their anticipated realisable value, which impliesthat a provision for a loss allowance on lifetime expected credit losses of the receivable is recognised. A provision for lossallowance for expected credit losses is performed at each statutory reporting date and is based on a multifactor and holisticanalysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2022Trade debtors (note 14)99,95742,2021,1743,395146,730Expected credit loss rate (per cent)0.67%Expected credit loss (NOK 000's)988As of December 31 2021Trade debtors (note 14)93,72036,2713,009749133,749Expected credit loss rate (per cent)0.74%Expected credit loss (NOK 000's)988Cash depositsCredit risk from balances with financial institutions is managed by the Group\u2019s treasury function. The Group limits itscounterparty credit risk by maintaining its cash deposits with financial institutions with high credit ratings as displayed below.Financial institutionCountryRaterReport dateRating (LT)Sparebank 1 SR-bank ASANorwayMoody's30.09.2022A1SEB AB (publ)SwedenMoody's22.12.2022Aa2Liquidity riskLiquidity risk arising from the Group not being able to meet its financial obligations as they fall due, is considered low. TheGroup\u2019s approach to manage liquidity risk is through proper liquidity planning to ensure, as far as possible, that it will alwayshave su\ufb03cient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurringunacceptable losses or risking damage to the Group\u2019s reputation. Executive management has monitoring controls in place toensure that the Group has su\ufb03cient liquidity.2022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)66,08675,81915,69749,37010,752Trade and other payables15,21515,21515,21500Tax payable (note 10)11,87911,87911,87900Social Taxes and VAT81,52481,52481,52400Other short-term debt109,411109,411109,41100Total 31 December 2022284,115293,848233,72649,37010,7522021Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease liabilities (note 24)61,53672,42214,46444,59313,365Trade and other payables15,74515,74515,74500Tax payable (note 10)14,59914,59914,59900Social Taxes and VAT72,11472,11472,11400Other short-term debt89,81489,81489,81400Total 31 December 2021253,808264,694206,73644,59313,365Categories of financial instrumentsNOK'00020222021Trade receivables145,742132,761Other receivables9,12911,439Cash and short-term deposits62,34046,690Financial assets measured at amortised cost217,211190,889Debt to credit instututions00Trade payables15,21515,745Other payables81,52472,114Other short-term debt109,41189,814Financial liabilities measured at amortised cost206,150177,673The methods and assumptions used to estimate the fair value of debt instruments are described in note 2.Carrying amount is based on amortised cost and is assessed as a reasonable approximation of fair value, and has beenapplied accordinglyNote 5 Revenue from contracts with customersIn the following table, the major revenue lines are disaggregated by geographical areas as disclosed in our segment note (note 6).Figures are in local currencies and do not include eliminations except Group.2022 Segments (in 000' )Norway (NOK)Sweden (SEK)Group (NOK)Type of goods or serviceIT-related consulting services721,050110,528823,284Subcontractors42,98422,66664,490Other173519665Total revenue from contracts with customers764,207133,713888,438Timing of revenue recognitionGoods and services transferred at a point in time764,034133,194887,774Services transferred over time150-Total revenue from contracts with customers764,184133,194887,7742021 Segments (in 000' )Norway (NOK)Sweden (SEK)Group (NOK)Type of goods or serviceIT-related consulting services624,84783,155705,690Subcontractors45,76323,02968,821Other271392512Total revenue from contracts with customers670,881106,576775,023Timing of revenue recognitionGoods and services transferred at a point in time670,610106,184774,510Services transferred over time150-Total revenue from contracts with customers670,760106,184774,510Set out below, is the reconciliation of the revenue from contracts with customers with the amounts disclosed inthe segment information (Note 6):20222021Revenue (in 000' NOK)NorwaySwedenNorwaySwedenExternal customer764,034123,740670,610103,900Inter-segment1502,6341502,358Inter-segment adjustments and eliminations(150)(2,634)(150)(2,358)Total revenue from contracts with customers764,034123,740670,610103,900Contract balances:The following table provides information about receivables, contract assets and contract liabilities from contracts withcustomers.NOK 000'12/31/202212/31/2021Receivables which are included in Trade receivables143,550129,315Contract assets2,1923,446Contract liabilities7570The contract assets primarily relate to revenues accrued, but not invoiced. The contract assets are transferred to Tradereceivables when the rights to receive payment become unconditional.The contract liabilities primarily consist of advance considerations received from customers, before revenue is earned. Revenueis recognised as (or when) the Group fulfils its performance obligation(s) under the contracts, and accrued expenses related tosupply of goods and services, not yet recorded in Accounts Payable.Changes in the contract assets and the contract liabilities balances during the period are as follows:Contract assets (NOK 000')20222021At January 13,4466,041Additions2,1923,446Transfers from contract assets recognised at the beginning of the period to receivables(3,446)(6,041)Impairment losses and allowances recognised in the period00At December 312,1923,446Contract liabilities (NOK 000')20222021At January 10838Invoiced in advance for the period7570Revenues recognised that was included in the contract liability balance at the beginning ofthe period0(838)Current contract liabilities at December 317570Note 6 Segment informationNOK 000'sThe Group provides IT related high-end consulting services. Operating segments are reported by country of operation. The ChiefOperating Decision-Maker (CODM), who is responsible for allocating resources and assessing performance of the operatingsegments, has been identified as the steering committee consisting of the CEO and the CFO. The CODM examines the Group'sperformance by country of operation. Segment performance is evaluated based on the profit or loss measure \"Earnings beforeinterest and tax\" (EBIT) and is measured consistently with profit or loss in the consolidated financial statements. Assets andliabilities are not allocated to segments.The Group has currently two reportable segments: Norway and Sweden, and revenue breakdown for Oslo (Norway), RegionalO\ufb03ces (Norway) and Subcontractors (Norway and Sweden).2022NorwaySwedenElimination*TotalRevenues Oslo324,651Revenues Regional O\ufb03ces393,656Revenues Sweden102,747Revenues Subcontractors45,66623,916Other233203Total revenue (IT-related consulting services)764,207126,866(2,784)888,289Total operating expenses less depreciation and impairment716,480119,945(2,784)833,640EBIT47,7276,92254,649EBIT margin (% of total revenue)6.2 %5.5 %6.2 %2021NorwaySwedenElimination*TotalRevenues Oslo280,998Revenues Regional O\ufb03ces343,525Sweden83,489Subcontractors45,76323,058Other595103Total revenue (IT-related consulting services)670,881106,651(2,508)775,023Total operating expenses less depreciation and impairment609,783101,825(2,508)709,100EBIT61,0974,82665,923EBIT margin (% of total revenue)9.1 %4.5 %8.5 %*Elimination consists of hiring of consultants from Sweden to Norway and management fee fromSweden to Norway.Major customersThe Group does not disclose a breakdown per customer, as sales revenues for any customer does not exceed 10% of the totalrevenue in the Group.Geographical analysis of assetsAnalysis of non-current assets by geographical locationElimination2022NorwaySweden*TotalRIght-of-use assets49.215.965.1Research and development1.51.5Fixed assets13.90.514.4Total non-current assets operating assets 202264.616.40.081.0Elimination2021NorwaySweden*TotalRIght-of-use assets45.816.862.5Research and development3.03.0Fixed assets10.20.110.4Total non-current assets operating assets 202159.016.90.075.9Asset location20222021Norway64,61259,021Sweden16,39516,910Non-current segment assets81,00775,932Other intangible assets378,554380,546Non-current financial assets20Deferred tax asset2,1931,619Trade receivables145,742132,761Other receivables9,12911,439Cash and short-term deposits62,34046,690Consolidated total assets678,967648,986Non-current assets for this purpose consist of right-of-use assets, research and development and fixed assets.Note 7 Salaries, remuneration and audit feesNOK 000'sSalaries and personnel expenses (NOK'000)20222021Salaries540,411465,896Social security costs86,45777,726Pensions24,11721,722Share-based compensation3,6062,878Other benefits and refunds32,13715,442Total salaries and personnel expenses686,728583,665Number of employees, average FTEs538478TotalremunerationRemuneration to executive management NOK'000Base salaryVariable payOther*PensionTotal remuneration to executive management 202214,6423,7131,91020,265626Total remuneration to executive management 202115,0002,84048018,320626*Other consists of e.g. health insurance plans, car allowance, telephone/mobile communication, share-options (NOK 1.2million in 2022) and housing allowance.** There have been changes in the executive management since 2021***Due to reduction of executive management effective from 2023 the Company had severance pay of NOK 1.2 million inthe financial year 2022.The table above is exclusive severance pay.Board remunerationCompensation to board members is not performance-related. Compensation to the Board is determined by the Annual GeneralMeeting, and the accrued cost for 2022 and 2021 is based on the decision made by the Annual General Meetings. Thecompensation is paid in arrears.20222021Remuneration to board members and nomination committeeCompensationCompensationChairman of the board - Kjetil Bakke Eriksen (from 28 April 2022)373247Board member - Trond Klethagen Johannessen (Chairman until 27 April 2022)327410Board member - Siw \u00d8degaard276288Board member - Trygve Christian Moe287257Board member - Toril Nag258233Nomination committee - Bj\u00f8rn Ivar Danielsen (board member until 5 May 2021)3019Nomination committee - Petter Tusvik1817Nomination committee - Trude Sleire (until 28 April 2021)6Nomination committee - John Morten Bjerkan (until 28 April 2021)9Total remuneration to board members and nomination committee1,5691,487Determination of remuneration to executive managementThe Company's executive management comprises the Chief Executive O\ufb03cer (CEO), the Chief Financial O\ufb03cer (CFO), DirectorBusiness Development, Regional Managers, Directors Communication and marketing and Group Advisor. Remuneration toexecutive management is mainly fixed salary as well as performance based bonus. CEO and CFOs bonus is decided by theremuneration committee and regional managers bonus is calculated by pre-determined KPIs, in line with the Remuneration Policy.The CEO and the CFO were entitled to bonuses for 2021 which were accrued for in the consolidated statement of comprehensiveincome for 2021 and paid in Q1 2022. The CEO received a bonus of NOK 0.7 million. The CFO received a bonus of NOK 0.15 million.The executive management is entitled to participate in the Long-term incentive programme as described in note 22.Bonuses for 2022 were accrued for in the consolidated statement of comprehensive income for 2022 and paid in Q1 2023. TheCEO was paid a bonus of NOK 0.42 millionThe accrued bonuses are included in the table above.The board of directors has established a remuneration committee. Chairman of the board Kjetil Bakke Eriksen serves as chair of thecommittee. Toril Nag and Trond K. Johannessen serve as members. The remuneration committee functions as an advisory body to theboard of directors, with the purpose of ensuring a thorough and independent preparation of matters regarding remuneration to theCompany's executive management.The main principle for the Company's remuneration policy is that the executive management shall be offered competitive termswhen their total remuneration package is taken into account. Such packages may consist of elements such as base-salary, bonus,share and option schemes, benefits in kind and pension arrangements. The Company shall seek to offer a remuneration level that isconsidered competitive and on market terms, compared to the level offered by its peers, and which seeks to satisfy the Company'sneed to recruit and keep highly qualified personnel in the executive management.The current guidelines have been prepared in accordance with the provisions of section 6-16a of the Norwegian Public LimitedCompanies Act, approved 28 April 2022 at the Annual General Meeting.The base salary paid to the executive management shall constitute the main part of their total remuneration. For executivemanagement also having a performance-based bonus, the base salary constitutes approximately 70-80% of the total remunerationpackage.The executive management is offered contributions in kind such as coverage of phone and phone expenses, private broadband,company health services, insurances, car allowance and coverage of travel expenses.The executive management participates in the Company's defined contribution pension scheme in accordance with mandatory law.The company's CEO receives a fixed car allowance at NOK 15,000 per month.The executive management may be offered performance-based bonuses in addition to their fixed remuneration. Suchperformance-based bonus shall be agreed on an individual basis if applicable. The criteria for any performance-based bonus shallbe determined by the board of directors and shall be linked to measurable factors, such as the achievement of pre-determined KPIs.The Company's CEO and CFO performance-based profit may constitute up to 40% and 35% respectively, and shall be determined bythe board of directors. For department managers the performance-based bonus is linked to the following KPIs- Revenue compared to budget/forecast- Number of employees compared to budget/forecast- Operating revenue compared to budget/forecastThe executive management may be offered Company shares and options to shares as a part of the total remuneration package.The executive management, and other managers as decided by the board of directors, are included in Websteps Long-termincentive program approved at the Annual General Meeting 2019. The program is further described in note 22.The other Group companies shall follow the main principles for remuneration of executives as described herein and guidelines fordetermination of salary and other remuneration to executive personnel in Webstep.Audit fees *20222021Statutory audit fees9091,052Audit-related assistance2130Total fee1,1221,052* VAT is not includedNote 8 Pension costsAll companies within the Group have defined contribution plans for all of its employees, governed by the local employment laws.The Group pays a contribution to the plan based on a fixed per centage of the salary, limited to 12 times the base amount (G). Thetotal pension premium charge in 2022 is NOK 24,1 million (2021: NOK 21,7 million).The Norwegian companies within the Group are bound to have mandatory occupational pension scheme pursuant to theNorwegian law of Occupational pension scheme. The Group's pension scheme meets the requirements of this Act.Note 9 Financial itemsFinance incomeNOK'00020222021Interest income59598Other finance income (including foreign exchange effects)41922Total finance income1,014120Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.Finance expenseNOK'00020222021Interest expense(4,512)(2,987)Other finance expense (including foreign exchange effects)(877)(646)Total finance expense(5,389)(3,633)Interest expense primarily comprises interest and expenses paid on revolving credit facility(Note 21) and estimated interest on leasing liabilities (Note 24).Note 10 TaxesNOK 000'sConsolidated statement of profit or loss20222021Current income tax12,40414,384Unprovided income tax charge from previous year0252Deferred tax(566)(720)Income tax expense reported in the statement of profit or loss11,83813,916Reconciliation of tax expense and the accounting profit multiplied by the Group\u2019s tax rate for 2022 and2021:Reconciliation of tax base20222021Accounting profit before tax50,27462,411Permanent differences3,9851,147Change in temporary differences2,5773,288Tax base for the year56,83666,846Tax payable (22%)12,50414,706Prepaid tax(525)(30)Differences in tax rates on foreign subsidiary(101)(77)Tax payable in the balance sheet11,87814,599Deferred tax20222021Fixed assets2,0031,131Receivables988988Provisions, not yet tax deductible8,5296,036Statutory tax provisions in Sweden(8,593)(8,010)Total2,927144Net deferred tax asset/(liability) (22%)64432Effect of difference in tax rates Sweden (20,6%/22%)99101Total adjusted for differences in tax rates742133Re\ufb02ected in the statement of financial position as follows:Deferred tax assets2,1931,619Deferred tax liabilities(1,451)(1,486)Deferred tax liabilities, net742133Effective tax rate:Expected income tax11,06013,730Permanent differences877252Effect of change in tax rate and other(99)(67)Income tax expense*11,83813,916* Income tax expense in relation to income before tax23.5 %22.3 %The group had no R&D initiative that qualified for the government R&D tax incentive scheme (SkatteFUNN) in 2022. In 2021 NOK693 thousand was recognised as income under the R&D tax incentive scheme (SkatteFUNN), whereof NOK 308 thousandoriginated from 2020. This was related to an approved adjustment to one of the applications.Note 11 Intangible assets and goodwillCost,GoodwillGoodwillNOK 000'sNorwaySwedenR&DTotalAt 1 January 2021313,57571,7137,573392,861Additions0000Disposals0000Exchange adjustment0(4,742)0(4,742)At 31 December 2021313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Depreciation and impairmentAt January 1 202100(3,029)(3,029)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202100(4,543)(4,543)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Net book valueAt 31 December 2021313,57566,9713,030383,575At 31 December 2022313,57564,9641,515380,054Useful lifeInfiniteInfinite5 yearsDepreciation methodNANAStraight lineGoodwill includes the value from acquisition of Webstep AS in 2011 and Webstep AB in 2012, where NOK 313.5 million and NOK 58.6million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment.Capitalised R&D comprises investments in the strategic initiative Webstep Internet of Things (IoT), where a total of NOK 1.5 million isrecognised at balance date. The reclassification and recognition as an intangible asset is based on the management's assessment offuture economic benefits from the projects and that the criteria in IAS 38.57 is met.R&D activities that have been recognised as costs in the consolidated statement of comprehensive income in 2022 amount to NOK 0.0million (NOK 2.0 million in 2021).Impairment testingGoodwill acquired through business combinations has been allocated to two individual cash generating units (CGU), which are alsodefined as reportable segments according to note 6.Cash generating unitNOK'00020222021Norway313,575313,575Sweden64,96466,971378,539380,546Goodwill is tested for impairment at least annually, or when there are indications of impairment. The impairment test is conductedfor each cash generating unit, by evaluating the present value of future cash \ufb02ows, based on cash \ufb02ow projections five years ahead.The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash \ufb02owbefore tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.Key assumptions used in value in use calculations and sensitivity to changes in assumptions:The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing assumptions:\u2022 Discount rates\u2022 EBITDA\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast periodThe calculated weighted average cost of capital (WACC) after tax for Norway was 8.4 % and 6.7 % for Sweden. The risk free interestrate was 3.1% for Norway and 1.7 % for Sweden. The risk premium is calculated based on market statistics for comparablecompanies. The cash \ufb02ow forecast takes into account both historical results, expected future growth rates, and market conditions.These budgets and forecast calculations generally cover a period of five years. For Norway and Sweden, the underlying modelcalculates annual cash \ufb02ows per department, based on periodised employee development, utilisation rate, expected trend in hourlyrate, sales / management / overhead changes, wage growth and cost growth. The annualised compound growth rate over the next4 year period is 2% for each CGUs. The terminal growth rate used in calculating the terminal value is 1%. The EBITDA-margin in boththe Norwegian CGU and the Swedish CGU is expected to be in line with historical levels. The impairment model has significantheadroom between estimated value and carrying amount.Based on the impairment tests performed, there are no indications that impairment is required for any of the CGUs.The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for eachof the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a periodof five years. Market conditions are changing rapidly due to geopolitical instability, invasion of Ukraine and climate risk, andWebstep is following the development closely, however the Group does not expect any substantial implications on the Group\u2019sbusiness activities. A long-term growth rate is calculated and applied to project future cash \ufb02ows after the fifth year.Note 12 Fixed assetsEquipment,Cost,fixtures andRight-of-useNOK'000furnitureassetsTotalAt 1 January 202126,02950,81176,840Additions7,75038,80146,551Disposals0(16,172)(16,172)Exchange adjustment0(920)(920)Cost at 31 December 202133,77972,520106,299Cost at 1 January 202233,77972,520106,299Additions10,72419,13629,860Disposals0(4,179)(4,179)Exchange adjustment0(508)(508)Cost at 31 December 202244,50386,969131,472Depreciation and impairmentAt 1 January 2021(19,539)(16,003)(35,542)Disposals015,9130Impairment000Depreciation charge for the year(3,884)(9,881)(12,390)Exchange adjustment000Other000At 31 December 2021(23,423)(9,971)(33,395)Disposals01,5001,500Impairment0(1,785)(1,785)Depreciation charge for the year(6,626)(11,654)(18,280)Exchange adjustment(7)0(7)Other000At 31 December 2022(30,056)(21,910)(51,967)Net book valueAt 31 December 202110,35562,54872,903At 31 December 202214,44765,05979,507Useful life3 - 5 year1-5 yearDepreciation methodStraight lineAmortisationNote 13 Financial assets \u2013 non-current vs currentThe only non-current, financial asset is a deposit.Financial assets,NOK'00020222021Other long term deposit20Total20Note 14 Trade and other receivablesTrade and other receivablesNOK'00020222021Trade receivables - net of related parties146,730133,749Provision for bad debt(988)(988)Trade Receivables net of provision145,742132,761Prepayments and other receivables9,12911,439Receivables from related parties00Payables to related parties00Total trade receivables and prepayments154,872144,200Of which long-term receivables from related parties00Short-term Receivables and prepayments154,872144,200Specification of receivablesNOK'00020222021Trade receivables143,550129,315Accrued income2,1923,446Other receivables00Trade and other receivables145,742132,761Prepaid costs8,22210,585Prepaid public duty debt142478Prepaid rent765376Prepayments9,12911,439Total receivables and prepayments154,871144,200Due dates and fair value of trade and other receivablesNOK'00020222021Due within one year*)154,871144,200After one year **)00Fair Value154,871144,200*) For receivables due within one year, fair value is equal to nominal value.**) Receivables that are due later than one year are discounted and stated as fairvalue.Group has a bad debt provision of NOK 988 thousand in 2022 equal to NOK 988thousand in 2021.30-60NOK'000TotalNot due<30 daysdays>60 days2022146,73099,95742,2021,1743,3952021133,74993,72036,2713,009749Trade receivables at year end were NOK 146.7 million (NOK 133,7 million).Note 15 Cash and short-term depositsCash and Cash Equivalents,NOK'00020222021Cash in bank62,34046,690Cash equivalents00Total Cash and Cash Equivalents62,34046,690Utilised bank overdraft00Net Cash and Cash Equivalents/Bank overdraft62,34046,690Of which Restricted Cash:Guarantees for leases and credits from suppliers1,1161,149Taxes withheld581744Other restricted cash00Total Restricted Cash1,6971,893For further details on the Group's cash reporting and cashpooling system, see note 17.Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20222021No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,62827,322No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,32226,967Issued306355At 31 December27,62827,322No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(54)(60)Sale of treasury shares246At 31 December(29)(54)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 202116,21216,212Foreign currency translation(5,929)7,892At 31 December 202110,28416,213Foreign currency translation(2,589)-5,929At 31 December 20227,69510,28420222021Share capital27,62827,323Treasury shares(29)(54)Share premium179,190172,775Retained earnings178,918183,365Non-controlling interest00Shareholders equity inclusive currency translation393,401393,692ForeignStatement of changes in equitycurrencyTotalNon-contIssuedTreasurySharetranslationRetainedearnedrollingTotalNOK 000'sNotecapitalsharespremiumreserveearningsequityinterestsequityAt 1 January 202126,967-59162,02016,212175,045380,185-380,185Profit for the period----48,49548,495-48,495Other comprehensiveincome/(loss)----5,929--5,929--5,929Sales of treasury shares-6111--117-117Share incentive program--2,8782,878-2,878Share issue355-10,644--10,99910,999Dividends26-----43,052-43,052--43,052At 31 December 202127,322-53172,77510,283183,366393,692-393,692Profit for the period----38,43638,436-38,436Other comprehensiveincome/(loss)----2,589--2,589--2,589Sales of treasury shares24432456-456Share incentive program3,6063,606-3,606Dividends26-46,489-46,489--46,489Share issue3065,9826,2886,288At 31 December 202227,628-29179,1897,695178,919393,401-393,401Top 20 shareholders 31 December 2022Shareholder nameSharesOwnershipVoting rightsEmbro Eiendom AS8,312,72730.1%30.1%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,430,1215.2%5.2%VERDIPAPIRFONDET DNB SMB1,139,2844.1%4.1%JAKOB HATTELAND HOLDING AS1,000,0003.6%3.6%PROTECTOR FORSIKRING ASA1,000,0003.6%3.6%J.P. Morgan SE900,0003.3%3.3%HOLMEN SPESIALFOND861,5243.1%3.1%VERDIPAPIRFONDET NORDEA NORGE VERD664,3172.4%2.4%Danske Invest Norge Vekst542,0002.0%2.0%HVALER INVEST AS500,0001.8%1.8%Goldman Sachs International416,5711.5%1.5%HAUSTA INVESTOR AS400,0001.4%1.4%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%IVAR L\u00d8GE AS250,0000.9%0.9%Pictet & Cie (Europe) S.A.232,6750.8%0.8%VERDIPAPIRFONDET NORDEA AVKASTNING230,3830.8%0.8%EUROVEST AS230,0000.8%0.8%Other shareholders6,489,04323.5%23.5%Total number of shares excluding treasury shares27,598,51599.89%100.00%Treasury shares as of 31 December 202229,9830.11%Total shares issued27,628,498100.00%Shareholding by board members, management and their related parties as of 31 December 2022SharesOwnershipVoting rightsKjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Trond K. Johannessen63,0000.23%0.23%Trygve Christian Moe (Birkeland & Salvesen AS)23,9250.09%0.09%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Toril Nag3,5700.01%0.01%Save Asmervik13,2930.05%0.05%Jacob Cardell (Nominee)20,0200.07%0.07%Terje Orvedal (Illari AS)9,1430.03%0.03%Joar Krohn (Kronoko Holding AS and privatly held)99,3200.36%0.36%Dagfinn Haslebrekk7,6180.03%0.03%Arnt Roger Aasen (Aravi AS and privatly held)26,0320.09%0.09%Otto Backer Solberg18,6270.07%0.07%Rolf Helle (Xerxes AS and privatly held)41,2470.15%0.15%Erlend N\u00e6vdal8450.00%0.00%Anders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Trygve Christian Moe is employed by Embron Group AS, which is owned by J.C. Broch AS.Webstep ASA holds 29,983 treasury shares. These shares have no voting rights nor dividend rights.Note 17 Interest bearing loans and borrowingsNOK 000\u2019sThe Group has a NOK 110 million Revolving Credit Facility (\"RCF\") with SpareBank 1 SR-Bank ASA. The RCF may be utilised by eachmember of the Group having access to the cash pooling account system related to the RCF. The accounts included in the cashpooling structure are presented as a net figure for the Group: As cash and short term receivables if the net balance is positive, ordebt to credit institutions if the net balance is negative.The term of the RCF is two years, after which it is subject to renewal. The facility was renewed in 2021. The total payable interestrate is based on 3 months NIBOR in addition to an agreed margin of 2.25 per cent per annum. The interest calculation is based onthe net of cash and overdraft. The annual charge for the credit facility is 0.5 per cent of the granted credit. Under the RCF, theCompany has pledged security over the shares, inventory, insurance payouts and accounts receivable in Webstep AS and negativepledge over the shares in Webstep AB.Covenant conditions: Book equity for the Group shall consist of at least 30 per cent of total capital, measured quarterly. Ratio ofNIBD / EBITDA maximum 3, measured quarterly, rolling 12 months. See note 21 for further details.Webstep AB has a local revolving credit facility of SEK 5 million which was unutilised 31 December 2022.NOK'00020222021Non-current borrowingsDebt to credit institutions00Lease liabilities52,93349,507Current borrowingsDebt to credit institutions00Lease liabilities13,15312,029Total borrowings66,08761,537NOK'00020222021Booked value of assets pledged as securityShares432,119432,119Fixed assets14,44710,355Receivables145,742132,761Cash62,34046,690Total654,648621,925Other financial liabilities at amortised cost, other than interest-bearing loans and borrowingsNOK'00020222021Trade payables15,21515,745Other payables81,52472,114Other short-term debt109,41189,814Total financial liabilities272,237239,210Total current272,237239,210Total non-current00Other short-term debt mainly consists of; 1) accrued salaries for the past month, for paymentto employees in accordance with the salary model, 2) accrued holiday pay as required by law, for payment toemployees in June the following year.Changes in liabilities arising from financing activitiesChangesforeignexchangeYear ended 20211 Jan 2021Cash \ufb02owsrateOther31 Dec 2021Debt to credit institutions non-current00000Lease liabilities non-current and current (note 24)34,807(10,920)(920)38,57061,537Debt to credit institutions current00000Total liabilities from financing activities34,807(10,920)(920)38,57061,537ChangesforeignexchangeYear ended 20221 Jan 2022Cash \ufb02owsrateOther31 Dec 2022Debt to credit institutions non-current00000Lease liabilities non-current and current (note 24)61,537(11,481)(508)16,54066,086Debt to credit institutions current00000Total liabilities from financing activities61,537(11,481)(508)16,54066,086Note 18 Trade and other payablesNOK 000's20222021Trade and other payables15,21515,745Social Taxes and VAT81,52472,114Accrued vacation pay51,57244,470Accrued expenses including salaries payable56,89844,795Other current payables (note 19)941550Total Trade and Other Payables206,150177,674Terms and conditions of the above financial liabilities:Trade payables are non-interest bearing and are normally settled on 30-day termsSocial Taxes and VAT are normally settled six times per year ( Norway) or monthly (Sweden)Accrued vacation pay is paid in June (Norway)Salaries payable are normally settled monthlyFor explanations on the Group\u2019s liquidity risk management processes, refer to Note 21Note 19 Other short-term debtNOK 000's20222021Salaries payable, vacation pay, bonus etc.103,23384,967Other accrued expenses5,2374,298Received prepayments of revenues7570Other184550Total other short-term debt109,41189,814Note 20 Related party disclosureThe consolidated financial statements of the Group include:% Equity interestCountry ofNamein-corporationBusiness Address20222021Webstep ASNorwayc/o Rebel, Universitetsgata 2, 0164 Oslo100%100%Webstep ABSwedenKungsgatan 44, 111 35 Stockholm100%100%Webstep ASA is the ultimate parent of the Group, and sole owner of Webstep AS and Webstep AB. Balances and transactionsbetween the Company and its subsidiaries, which are related parties to the Company, have been eliminated in the consolidationand are not disclosed in this Note. The Group does not have any material transactions with related parties, except forremuneration to management (note 7).Note 21 Capital managementCapital managementFor the purpose of the Group's capital management, capital includes issued capital, treasury shares, share premium and all otherequity reserves attributable to the equity holders of the parent.The Group is financed by equity with a revolving credit facility to finance \ufb02uctuations in net working capital.The primary objective of the Group\u2019s capital management is to maximise shareholder value. The policies shall ensure that theGroup complies with externally imposed capital requirements and maintains strong credit ratings and healthy capital ratios in orderto support its business objectives. The policies shall ensure su\ufb03cient, financial \ufb02exibility. The objectives for capital managementare regarded as achieved as of December 31 2022.The Group manages its capital structure and makes adjustments to it according to changes in economic conditions and the riskcharacteristics of its activities. In order to maintain or adjust the capital structure, the Group may adjust the dividend payment toshareholders, return capital to shareholders or issue capital securities. Capital structure is reported monthly and measured,amongst other criterias, against covenants.No changes have been made to the objectives, policies and processes from the previous years. However, they are under constantreview by the board of directors.The Group monitors equity ratio (equity to total assets) and the ratio of Net Interest Bearing Debt (NIBD) to Earnings Before InterestTax Depreciation and Amortisation (EBITDA) as part of the capital management to ensure the Group is complying with currentcovenants.Note 22 Share based paymentsEmployee share purchase programme (\"ESPP\")An employee share purchase programme was implemented in November 2018, and similar programmes have been carried outyearly since 2018.In the fourth quarter of 2022 each of the employees in the Norwegian entities, including executive management, were invited toacquire shares in the company for an amount between NOK 5,000 and NOK 24,000 each with a discount of 15%. The sharesacquired were subject to a lock-up period of two years, and the reduced offer price re\ufb02ected the value-reducing effect of thelock-up period. 180 employees participated in the program, and the share capital was increased 15 December 2022 to issue newshares related to the ESPP.Long-term incentive programme (\"LTI\")Under the Long-term incentive programme, share options of the parent are granted to senior executives of the Group. The exerciseprice of the share options is equal to the market price of the underlying shares on the date of grant. The share options vest if thesenior executive remains employed during the vesting period.The fair value of the share options is estimated at the grant date using the Black-Scholes option pricing model, taking into accountthe terms and conditions on which the share options were granted.515,876 options were granted 18 November 2019, whereof 46,884 were terminated during 2020, 23,461 were terminated during2021 and 46 884 were terminated during 2022.The options will vest, or have vested, in the following tranches:- 111,381 options vested 18 November 2020- 111,381 options vested 18 November 2021- 175,885 options vested 18 November 2022546,000 options were granted 24 November 2020, whereof 52,000 were terminated during 2021 and 78,000 were terminated during2022.The options will vest in the following tranches:- 123,500 options vested 24 November 2021- 123,500 options vest 24 November 2022- 247,000 options vest 24 November 202398,000 options were granted 10 February 2021, the options will vest in the following tranches:- 24,500 options vested 10 February 2022- 24,500 options vest 10 February 2023- 49,000 options vest 10 February 202426,000 options were granted 26 May 2021, the options will vest in the following tranches:- 6,500 options vested 26 May 2022- 6,500 options vest 26 May 2023- 13,000 options vest 26 May 2024650,000 options were granted 25 November 2021, whereof 100,000 were terminated during 2022. The options will vest in thefollowing tranches:- 137,500 options vested 25 November 2022- 137,500 options vest 25 November 2023- 275,000 options vest 25 November 202425,000 options were granted 21 February 2022, the options will vest in the following tranches:- 6,250 options vest 21 February 2023- 6,250 options vest 21 February 2024- 12,500 options vest 21 February 2025Exercise price- Exercise price for options granted 18 November 2019 is NOK 18.20- Exercise price for options granted 24 November 2020 is NOK 19.43- Exercise price for options granted 10 February 2021 is NOK 20.12- Exercise price for options granted 26 May 2021 is NOK 29.35- Exercise price for options granted 25 November 2021 is NOK 34.94- Exercise price for options granted 21 February 2022 is NOK 34.94The potential dilution through the LTIP accounts for 155,548 shares. 169,016 of the vested shares have been exercised.The share options can be exercised up to five years after the grant date. Therefore, the contractual term of each option granted isfive years. In the event the Company is not capable of delivering shares following an exercise of options, the Company shall fulfil itsobligations through a cash-out.NOK'00020222021Expense arising from equity-settled share-based payment3,6062,878transactions related to the Long-term incentiveprogrammeSocial security tax provisions-1,1221,747Granted instruments:OptionOptionQuantity25,000774,000Contractual life*55Strike price*36.6434.78Share price*33.0035.34Expected lifetime*3.253.25Expected volatility*34.98%35.48%Risk-free interest rate*1.88%1.33%Dividend yield00Model usedBlack-ScholeBlack-ScholessFair value per instrument*7.549.55*Weighted average parameters at grant of instrumentThe expected life of the share options is according to IFRS-2, shorter than the time from grant until expiry. Due to the taxation ofoptions and \u201cnon-transferability\u201d, earlier exercise is expected . These are current expectations and is not necessarily indicative ofexercise patterns that may occur. The expected volatility re\ufb02ects the assumption that the historical volatility for the company andpeers over a period similar to the expected life of the options is indicative of future trends, which may not necessarily be theactual outcome.ExpensesThe expenses recognised for equity settled share-based payment transactions under the programs during the year are presentedin the table below:NOK'00020222021Expenses related to the Employee Share Purchase3,5692,060Programme (ESPP)Expenses related to the Long-term Incentive Programme3,6062,878(LIP)Total share based payment expenses in the period7,1754,938Social security tax expense for the period-1,1221,747Social security tax accrual for the period6581,780Number of discounted shares sold through the EmployeeShare Purchase Programme (ESPP)166,850232,103Discounted share price18.226.6NOK/shareNOK/shareWeighted average fair value of each discounted share soldthrough the ESPP99Movements during the year (LTI programme)The following table illustrate the number and weighted average exercise prices (WAEP) of, and movements in, share optionsduring the year:2022202220212021Long-term incentive programmeNumber ofWeightedNumber ofWeightedinstrumentsAverageinstrumentsAverageStrike PriceStrike PriceOutstanding at 1 January1,707,66625.281,014,99220.66Granted25,00034.94774,00034.58Exercised163,15119.415,86519.90ReleasedAdjustedPerformance AdjustedCancelledTerminated(224,884)26.07(75,461)21.85ExpiredOutstanding at 31 December1,344,6311,707,666Vested at 31 December619,13122.43340,39720.364 yearsThe weighted average remaining contractual lifeThe weighted average exercise prices for optionsoutstanding26.0426.91Total shareoptions perGrantedGrantedNumber of share optionsTitle31.12.2220222021Save AsmervikCEO296,884-198,000Liv Annike KvernelandCFO, until 31 August 2022--50,000Jacob CardellCOO Sweden112,442-50,000Arnt Roger AasenCommunications O\ufb03cer74,461-25,000Otto Backer SolbergCommunications O\ufb03cer74,461-25,000Director BusinessErlend N\u00e6vdalDevelopment25,00025,000-ManagerAnders H\u00f8ibakkOslo74,461-25,000Terje OrvedalHead of Consulting Oslo148,884-50,000Joar KrohnRegional Manager Bergen148,884-50,000Regional Manager Stavanger, until 31 JulyGeir J\u00e5thun Hindenes2022--50,000Regional ManagerDagfinn HaslebrekkTrondheim76,000-76,000The options were granted on the 18 November 2019, 24 November 2020, 10 February 2021, 26 May 2021, 25November 2021 and 21 February 2022.At 31 December 2022 a total of 489,227 remaining options to key employees have vested. During the year 109,326vested shares have been exercised by key employees, and 224,884 non-vested share options have been terminateddue to resignations of key employees.Note 23 Earnings per shareThe Company had one share class and a total of 27,598,515 outstanding shares (excl. treasury shares) 31 December 2022.In 2022 the Long-term Incentive Programme as described in note 22 had dilutive effects.Basic earnings per share calculations are based on the weighted average number of shares outstanding during the period, whilediluted earnings per share calculations are performed using the average number of shares and dilutive shares equivalentsoutstanding during each period.NOK'00020222021Profit for the year38,60248,495Average number of shares outstanding27,39127,000Average number of outstanding shares, fully diluted27,66327,330Basic earnings per share (NOK/Share)1.401.80Diluted earnings per share1.391.77Average number of shares outstanding27,39127,000Average dilutive effects272330Warrants--Average number of shares outstanding adjusted for dilutive effects27,66327,330Dilutive effect of options issued 18 November 201970,372189,373Dilutive effect of options issued 24 November 202069,054195,394Dilutive effect of options issued 10 February 202116,12236,828Dilutive effect of options issued 26 May 2021-2,906Dilutive effect of options issued 25 November 2021--Dilutive effect of options issued 21 February 2022-Note 24 Rent and lease agreementsThe Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the rightto control the use of an identified asset for a period of time in exchange for consideration.Group as a lesseeThe Group applies a single recognition and measurement approach for all leases, except for short-term leasesand leases of low-value assets. The Group recognises lease liabilities to make lease payments and right-of-useassets representing the right to use the underlying assets.Right-of-use assetsThe Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at orbefore the commencement date less any lease incentives received. Right-of-use assets are depreciated on astraight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:\u2022 O\ufb03ce rents 1 to 10 years\u2022 Company cars and other equipment 1 to 3 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost re\ufb02ects the exercise of a purchaseoption, depreciation is calculated using the estimated useful life of the asset.The right-of-use assets are also subject to impairment.The Group has applied it's incremental borrowing rate for all leases except where rates are implicit in the contracts for companycars.The weighted, average incremental borrowing rate applied at December 2022 is 4,70%.Right-of-use assetsThe Group's right-of-use assets are identified as o\ufb03ce rentals and rental of company cars in Sweden.Right-of-use assets,O\ufb03cesO\ufb03cesNOK'000Company carsSwedenNorwayTotalAcquisition cost 1 January 20228,34312,30851,86772,518Addition of right-of-use assets4,940014,19619,136Disposal of right-of-use assets(3,539)0(640)(4,179)Currency exchange differences(217)(291)0(507)Acquisition cost 31 December 20229,52712,01765,42386,968Accumulated depreciation 1 January 20221,5162,3476,1079,971Accumulated depreciation on disposals(1,502)00(1,502)Impairment001,7851,785Depreciation for the period1,4681,8558,33111,654Accumulated depreciation 31 December 20221,4824,20216,22321,908Carrying amount of right-of-use assets 31 December 20228,0457,81549,19965,060Acquisition cost 1 January 20215,29010,46735,05350,810Addition of right-of-use assets5,2604,67728,86438,801Disposals of right-of-use assets-1,894-2,229-12,050-16,173Currency exchange differences-313-6070-920Acquisition cost 31 December 20218,34312,30851,86772,518Accumulated depreciation 1 January 20212,1673,01210,82516,003Accumulated depreciation on disposals-1,917-2,229-11,768-15,913Depreciation for the period1,2671,5637,0509,882Accumulated depreciation 31 December 20211,5162,3466,1079,971Carrying amount of right-of-use assets 31 December 20216,8269,96145,75862,548Lower of remaining lease term or economic life1-3 years1-3 years1-5 yearsAmortisatiAmortisatiAmortisatiDepreciation methodonononExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses267Low-value assets lease expenses107Variable lease expenses in the period (not included in the lease liabilities)3,207Total lease expenses in the period related to practical expedients and variable payments3,581Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments tobe made over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any leaseincentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residualvalue guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised bythe Group and payments of penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option toterminate.Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produceinventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of leasepayments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in thelease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretionof interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is amodification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a changein an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlyingasset.The Group\u2019s lease liabilities are included in Interest-bearing loans and borrowings.Short-term leases and leases of low-value assetsThe Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., thoseleases that have a lease term of 12 months or less from the commencement date anddo not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of o\ufb03ce equipmentthat are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised asexpenses on a straight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year1,8602,54911,28815,6971-2 years2,9572,58611,22216,7652-3 years2,1292,25710,21614,6023-4 years71192810,24611,8854-5 years3425,7766,118More than 5 years10,75210,752Total undiscounted lease liabilities at 31 December 20227,6578,66259,50075,819The future cash out\ufb02ows to which the Group is potentially exposed that are not re\ufb02ected in the measurement of leaseliabilities, includes:Extension optionsTotalKongsgata 52-54, StavangerOption until 31.08.20295.264Thorm\u00f8hlensgate 47, BergenOption until 31.12.203113,551Total extension options13,556The first contract has termination clauses, with penalties, which are re\ufb02ected in the measurement of the lease liabilities if optionsare not exercised.A new contract was signed in Trondheim, Kongens gate 16, January 2 2023. The contract also replaced the current contract inTrondheim, with an expected net cash \ufb02ow of 23,4 MNOK during the contract period.CompanyO\ufb03cesO\ufb03cesSummary of the lease liabilities in the financial statementsStatement of:carsSwedenNorwayTotalTotal lease liabilities 1 January 2021Financial position5,7649,96245,81161,537New leases liabilities recognised in the yearFinancial position2,344014,19616,540Cash payments for lease liabilitiesCash \ufb02ows(1,468)(1,682)(8,331)(11,481)Currency exchange differencesFInancial position(217)(291)(508)Total lease liabilities 31 December 2021Financial position6,4237,98951,67666,087Current lease liabilitiesFinancial position1,5522,2039,39913,154Non-current lease liabilitiesFinancial position4,8715,78642,27752,933Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,641)(1,682)(8,331)(11,654)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows174174Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(208)(356)(1,803)(2,367)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(1,675)(2,038)(10,134)(13,847)Cash out\ufb02ows recognised related to practical expedients andvariable payments(3,581)Total cash out\ufb02ows for leases(17,428)The right-of-use-assets are recognised at the estimated net present value of the leasing liabilities as calculated at the date ofinitial recognition or cost according to contract.Contracts with options for extensions that would, with reasonable certainty be exercised, are estimated at net present valueincluding the optional rental period.Contracts with penalties if options for extensions not are exercised and where the certainty for exercising the options is assessedas not reasonable, the estimated or actual penalty amounts are provided for and treated as a part of the rental cost of thecontracts decomposed in depreciation, instalment and interest.In addition to the lease liabilities presented above, the Group is committed to pay variable lease payments for its o\ufb03ce leasesrelated to future in\ufb02ation/index adjustments in Norway and Sweden which is not included in the initial recognition of leaseliabilities. When the in\ufb02ation/index adjustment is known, the present value of the change to the future lease payments is added tothe lease liability and right-of-use asset.Sensitivity of assumptions to the estimatesThe estimates of the value of right-to-use assets and leasing liabilities relies on the applied interest rates and the duration andnature of the contracts. All contracts have a duration of maximum 5 years with options for extensions with one exception, acontract with 10 years duration. If extensions are viewed as reasonably probable, the extension period is embedded in thecalculation of the estimate. Changes in interest rates are regarded to have the most significant impact on the estimates eitherimpacting the incremental borrowing rate applied on o\ufb03ce rentals estimates or the leasing amount of the company cars. Asensitivity analysis of possible effects of changes to interest rates are given in the tables below:Effect on incremental borrowing ratesA test on sensitivity on interest assumptions has been performed by varying NIBOR by +/- 200 basis points (BPS) compared toapplied NIBOR 3 months of 2,45% on the Group's incremental borrowing rate applied estimating value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st2.45%4.45%0.45%Estimated value December 31st 202257,01454,28761,026Deviation from applied estimate: Amount2,727(4,012)Deviation from applied estimate: per cent4.8%(7.0%)A similar test on interest assumptions has been performed by varying the implicit rate on company car leasing contracts byadjusting the implicit interest rate by +/- 200 BPS.Changes in leasing amountCompany cars ('000 NOK)Applied+200 BPS- 200 BPSAverage implicit rate December 31st3.80%5.80%1.80%Estimated value December 31st 20228,0457,6588,480Deviation from applied estimate: Amount(387)435Deviation from applied estimate: per cent(4.8%)5.4%Note 25 Contingencies and legal claimsThe Group has not been involved in any legal orfinancial disputes in 2022, where an adverse outcome is considered more likelythan remote.Note 26 Distribution made and proposedNOK'00020222021Cash dividends on ordinary shares declared and paid:Final dividends46,48943,052Dividends per share1.70 1.60Proposed dividends on ordinary shares:Proposed dividends46,99046,489Dividends per share1.70 1.70Note 27 Events after the balance sheet dateSince 31 December 2022 and until the date of thesefinancial statements, the board of directors is not aware of any matter orcircumstance not otherwise dealt with in this report that has significantly or may significantly affect the operations of theconsolidated entity.", "dimensions": { "concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__14": { "value": "Webstep ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__13": { "value": "Webstep ASA", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__6": { "value": "Webstep ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__8": { "value": "limited liability company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__9": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__7": { "value": "Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__10": { "value": "Rebel, Universitetsgata 2, 0164 Oslo, Norway", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__11": { "value": "Norway and Sweden", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__12": { "value": "offerings aredigitalization, cloud migration and integration, in addition to itsother focus areas Internet of Things (IoT), machine learning, ITsecurity, robotics and analytics.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__15": { "value": "These consolidated financial statements have been approvedfor issuance by the Board of Directors on 12 April 2023 and aresubject to approval by the Annual General Meeting on 4 May2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__17-1": { "value": "Note 2 Significant accounting principlesBasis for preparationThe consolidated financial statements at 31 December 2022for Webstep ASA have been prepared in accordance with theInternational Financial Reporting Standards (IFRS) as adoptedby the European Union.\ue7ebThe consolidated financial statements for the year ended 31December 2022 were authorised for issue by the Board ofDirectors on 12 April 2023.The consolidated financial statements are presented inNorwegian kroner (NOK) and all values are rounded to thenearest thousand (NOK 000\u2019s), except when otherwiseindicated.The format for presenting the income statement is based onthe nature of the expenditure.Going concernThe Group has adopted the going concern basis in preparingits consolidated financial statements. When assessing thisassumption, management has assessed all availableinformation about the future. This comprises informationabout net cash \ufb02ows from existing contracts and debt serviceobligations. Forecasts take into consideration expected futurenet income. Management has a reasonable expectation thatthe Group has adequate resources to continue its operationalexistence for the foreseeable future.\ue7eb\ue7ebBasis of measurement\ue7ebThe consolidated financial statements have been preparedunder the historical cost convention.The preparation of financial statements in conformity with IFRSrequires the use of certain critical accounting estimates.It also requires management to exercise its judgement in theprocess of applying the Group's accounting policies. The areasinvolving higher degree of judgement or complexity, or areaswhere the assumptions and estimates are significant to theconsolidated financial statements are disclosed in note 3.\ue7ebBasis of consolidationThe consolidated financial statements comprise the financialstatements of the Group and its subsidiaries as at 31December 2022. Control is achieved when the Group isexposed, or has rights, to variable returns from its involvementwith the investee and has the ability to affect those returnsthrough its power over the investee. The Group re-assesseswhether or not it controls an investee if facts andcircumstances indicate that there are changes to one or moreof the three elements of control. Consolidation of a subsidiarybegins when the Group obtains control over the subsidiary andceases when the Group loses control of the subsidiary. Assets,liabilities, income and expenses of a subsidiary acquired ordisposed of during the year are included in the consolidatedfinancial statements from the date the Group gains controluntil the date the Group ceases to control the subsidiary.Profit or loss and each component of other comprehensiveincome (\u201cOCI\u201d) are attributed to the equity holders of the parentof the Group and to the non-controlling interests, even if thisresults in the non-controlling interests having a deficit balance.When necessary, adjustments are made to the financialstatements of subsidiaries to bring their accounting policiesinto line with the Group\u2019s accounting policies. All intra-groupassets and liabilities, equity, income, expenses and cash \ufb02owsrelating to transactions between members of the Group areeliminated in full on consolidation.A change in the ownership interest of a subsidiary, without aloss of control, is accounted for as an equity transaction. If theGroup loses control over a subsidiary, it derecognises therelated assets (including goodwill), liabilities, non-controllinginterest and other components of equity, while any resultantgain or loss is recognised in profit or loss. Any investmentretained is recognised at fair value.Foreign currency translationThe Group\u2019s consolidated financial statements are presented inNorwegian kroner (NOK), which is also the parent company\u2019sfunctional currency. For each entity, the Group determines thefunctional currency and items included in the financialstatements of each entity are measured using that functionalcurrency.Transactions in foreign currencies are initially recorded by theGroup\u2019s entities at their respective functional currency spotrates at the date the transaction first qualifies for recognition.Receivables, debt and other monetary items denominated inforeign currencies are translated using the exchange rate at thebalance sheet date. Differences between the exchange rate atthe balance sheet date and the date on which the receivable ordebt arose, or was included in the latest balance sheet, arerecognised in the income statement and presented as financialincome and expenses.Differences in exchange rates arising from the translation offoreign subsidiaries\u2019 equity at the beginning of the year at theexchange rates at the balance sheet date and from thetranslation of income statements from the monthly averageexchange rates for the currency exchange rates at the balancesheet date are recognised directly in other comprehensiveincome.Segment reportingOperating segments are reported by country of operation,which currently is Norway and Sweden. The board of WebstepASA has appointed a strategic steering committee whichassesses the financial performance and position of the Groupand makes strategic decisions. The steering committee, whichhas been identified as being the chief operating decisionmaker, consists of the chief executive o\ufb03cer (CEO) and thechief financial o\ufb03cer (CFO).Changes in accounting policies and disclosuresStandards issued but not yet effectiveThe new and amended standards and interpretations that areissued, but not yet effective, up to the date of issuance of theGroup\u2019s financial statements are disclosed below. The Groupintends to adopt these new and amended standards andinterpretations, if applicable, when they become effective.Amendments to IAS 1: Classification of Liabilities as Currentor Non-currentIn January 2020, the IASB issued amendments to paragraphs69 to 76 of IAS 1 to specify the requirements for classifyingliabilities as current or non-current. The amendments clarify:\u2022 What is meant by a right to defer settlement\u2022 That a right to defer must exist at the end of the reportingperiod\u2022 That classification is unaffected by the likelihood that anentity will exercise its deferral right\u2022 That only if an embedded derivative in a convertible liability isitself an equity instrument would the terms of a liability notimpact its classificationThe amendments are effective for annual reporting periodsbeginning on or after 1 January 2023 and must be appliedretrospectively. The standard is assessed to have no impact onthe Group\u2019s reporting.New and amended standards and interpretationsThe Group has not early adopted any new standard,interpretation or amendment that has been issued but is notyet effective.Amendments to IFRS 3: Definition of a BusinessThe amendment to IFRS 3 Business Combinations clarifies thatto be considered a business, an integrated set of activities andassets must include, at a minimum, an input and a substantiveprocess that, together, significantly contribute to the ability tocreate output. Furthermore, it clarifies that a business can existwithout including all of the inputs and processes needed tocreate outputs. These amendments had no impact on theconsolidated financial statements of the Group, but mayimpact future periods should the Group enter into any businesscombinations.Amendments to IFRS 7, IFRS 9 and IAS 39 Interest RateBenchmark ReformThe amendments to IFRS 9 and IAS 39 Financial Instruments:Recognition and Measurement provide a number of reliefs,which apply to all hedging relationships that are directlyaffected by interest rate benchmark reform. A hedgingrelationship is affected if the reform gives rise to uncertaintyabout the timing and/or amount of benchmark-based cash\ufb02ows of the hedged item or the hedging instrument. Theseamendments have no impact on the consolidated financialstatements of the Group as it does not have any interest ratehedge relationships.Amendments to IAS 1 and IAS 8 Definition of MaterialThe amendments provide a new definition of material thatstates, \u201cinformation is material if omitting, misstating orobscuring it could reasonably be expected to in\ufb02uencedecisions that the primary users of general purpose financialstatements make on the basis of those financial statements,which provide financial information about a specific reportingentity.\u201d The amendments clarify that materiality will depend onthe nature or magnitude of information, either individually or incombination with other information, in the context of thefinancial statements. A misstatement of information ismaterial if it could reasonably be expected to in\ufb02uencedecisions made by the primary users. These amendments hadno impact on the consolidated financial statements of, nor isthere expected to be any future impact to, the Group.Summary of significant accounting policiesRevenues from contracts with customersThe Group is in the business of selling IT-consultancymanhours to its customers. Revenue for IT- services are to berecognised over time because the customer simultaneouslyreceives and consumes the benefits provided by the Group, andsatisfies each of its performance obligations (that is, it fulfilsits promises to the customer) over time by transferring controlof the promised service underlying that performance obligationto the customer. The fact that another entity would not need tore-perform the services that the Group has provided to datedemonstrates that the customer simultaneously receives andconsumes the benefits of the group\u2019s performance as itperforms. The input method is considered to be the bestmethod when recognising revenue over time because there is adirect relationship between the group\u2019s effort (i.e., labour hoursincurred) and the transfer of service to the customer. Thecontracts are normally based on service agreements withhourly fees. Fixed price contracts are recognised as revenueaccording to the stage of completion, using an input method tomeasure progress towards complete satisfaction of theservice, because the customer simultaneously receives andconsumes the benefits provided by the group. The inputmethod used to measure progress is based on the number ofhours worked, as this is considered to provide a faithfuldepiction of the transfer of services.Estimated loss on contracts will be recognised in the incomestatement in its entirety in the period when it has beenidentified.Contract balancesContract assetsA contract asset is initially recognised for revenue earned frombillable hours delivered yet not invoiced the customer. Whenthe billable hours are invoiced, the invoiced amount istransferred to trade receivables. Contract assets are subject toimpairment assessment.Trade receivablesA receivable is recognised if an amount of consideration that isunconditional is due from the customer.Contract liabilitiesA contract liability is recognised if a payment is received or apayment is due from the customer before the Group transfersthe related services. Contract liabilities are recognised asrevenue when the Group performs under the contract anddelivers or transfers the services to the customer.Cost of goods and services (COGS)Cost of goods and services is recognised at the point in timewhen the corresponding service or good is delivered to thecustomer. Cost of goods and services mainly comprises costto subcontractors which are engaged by the Group to deliverconsultancy hours to the customers.Salaries and personnel expensesSalaries and personnel expenses include salaries and wages,as well as social benefits, pensions, etc. for the Group\u2019semployees.Other operating expensesOther operating expenses include expenditure for sales,marketing, advertising, IT, administration, facilities, etc.\ue7ebFinance income and expense\u201cFinance income\u201d and \u201cFinance expense\u201d respectively, includeinterest, capital gains and losses concerning securities, debtand exchange differences on transactions in foreign currency.Government grantsFor contributions received accounted for as government grantsrelated to income under IAS 20, the accounting policy of theGroup is to recognize such grants when there is reasonableassurance that the conditions attaching to the grant will becomplied with and that the grants will be received. The grantsare recognized as income unless directly related to specificitems of expense.Taxes\ue7ebThe income tax expense or credit for the period is the taxpayable on the current period\u2019s taxable income based on theapplicable income tax rate for each jurisdiction adjusted bychanges in deferred tax assets and liabilities attributable totemporary differences and tax losses carried forward.The current income tax charge is calculated on the basis of thetax laws enacted or substantively enacted at the end of thereporting period in Norway and Sweden where the Groupoperates and generates taxable income. Managementperiodically evaluates positions taken in tax returns withrespect to situations in which applicable tax regulation issubject to interpretation. It establishes provisions whereappropriate on the basis of amounts expected to be paid to thetax authorities.Deferred income tax is provided in full, using the liabilitymethod, on temporary differences arising between the taxbases of assets and liabilities and their carrying amounts in theconsolidated financial statements. However, deferred taxliabilities are not recognised if they arise from the initialrecognition of goodwill.Deferred income tax is also not accounted for if it arises frominitial recognition of an asset or liability in a transaction otherthan a business combination that at the time of the transactionaffects neither accounting nor taxable profit or loss. Deferredincome tax is determined using tax rates (and tax laws) thathave been enacted or substantially enacted by the end of thereporting period and are expected to apply when the relateddeferred income tax asset is realised or the deferred incometax liability is settled.Deferred tax assets are recognised only if it is probable thatfuture taxable amounts will be available to utilise thosetemporary differences and losses.Intangible assetsIntangible assets acquired separately are measured on initialrecognition at cost. The cost of intangible assets acquired in abusiness combination is their fair value at the date ofacquisition. Following initial recognition, intangible assets arecarried at cost less any accumulated amortisation andaccumulated impairment losses.Internally generated intangibles, excluding capitaliseddevelopment costs, are not capitalised and the relatedexpenditure is re\ufb02ected in profit or loss in the period in whichthe expenditure is incurred.The useful lives of intangible assets are assessed as eitherfinite or indefinite.Intangible assets with finite lives are amortised over the usefuleconomic life and assessed for impairment whenever there isan indication that the intangible asset may be impaired. Theamortisation period and the method are reviewed at least atthe end of each reporting period. Changes in the expecteduseful life or the expected pattern of consumption of futureeconomic benefits are considered to modify the amortisationperiod or method, as appropriate, and are treated as changesin accounting estimates.Intangible assets with an indefinite economic life are tested forimpairment at least once a year, either individually or as a partof a cash-generating unit. Intangible assets with an indefiniteeconomic life are not amortised. Economic life is assessedannually with regard to whether the assumption of an indefiniteeconomic life can be justified. If it cannot, the change to adefinite economic life is made prospectively.Research and development costsExpenses relating to research activities are recognised in thestatement of comprehensive income as they incur. Expensesrelating to development activities are capitalised to the extentthat the product or process is technically and commerciallyviable and the Group has su\ufb03cient resources to complete thedevelopment work. Expenses that are capitalised include thecosts of materials, direct wage costs and a share of thedirectly attributable common expenses. Capitaliseddevelopment costs are recognised at their cost lessaccumulated depreciation and accumulated impairmentlosses. Depreciation of the asset begins when development iscomplete and the asset is available for use. Capitaliseddevelopment costs are depreciated on a straight-line basisover the period of expected future benefits. During the periodof development, the asset is tested for impairment annually.Business combination and goodwillBusiness combinations are accounted for using the acquisitionmethod. The cost of an acquisition is measured as theaggregate of the consideration transferred, which is measuredat acquisition date, fair value, and the amount of anynon-controlling interests in the acquiree. For each businesscombination, the Group elects whether to measure thenon-controlling interests in the acquiree at fair value or at theproportionate share of the acquiree\u2019s identifiable net assets.Acquisition-related costs are expensed as incurred andincluded in administrative expenses.When the Group acquires a business, it assesses the financialassets and liabilities assumed for appropriate classificationand designation in accordance with the contractual terms,economic circumstances and pertinent conditions as at theacquisition date. Goodwill is initially measured at cost (beingthe excess of the aggregate of the consideration transferredand the amount recognised for non-controlling interests andany previous interest held over the net identifiable assetsacquired and liabilities assumed). If the fair value of the netassets acquired is in excess of the aggregate considerationtransferred, the Group re-assesses whether it has correctlyidentified all of the assets acquired and all of the liabilitiesassumed and reviews the procedures used to measure theamounts to be recognised at the acquisition date. If thereassessment still results in an excess of the fair value of netassets acquired over the aggregate consideration transferred,then the gain is recognised in profit or loss.After initial recognition, goodwill is measured at cost less anyaccumulated impairment losses. For the purpose ofimpairment testing, goodwill acquired in a businesscombination is, from the acquisition date, allocated to each ofthe Group\u2019s cash-generating units that are expected to benefitfrom the combination, irrespective of whether other assets orliabilities of the acquiree are assigned to those units.Goodwill is tested for impairment annually as at 31 Decemberand when circumstances indicate that the carrying value maybe impaired. Impairment is determined for goodwill byassessing the recoverable amount of each CGU (or group ofCGUs) to which the goodwill relates. The Group bases itsimpairment calculation on detailed budgets and forecastcalculations, which are prepared separately for each of theGroup\u2019s CGUs to which the individual assets are allocated.These budgets and forecast calculations generally cover aperiod of five years. A long-term growth rate is calculated andapplied to project future cash \ufb02ows after the fifth year. Whenthe recoverable amount of the CGU is less than its carryingamount, an impairment loss is recognised. Impairment lossesrelating to goodwill cannot be reversed in future periods.Current versus non-current classificationAn asset is classified as current when it is expected to berealised or sold, or to be used in the Group's normal operatingcycle or falls due or is expected to be realised within 12months after the end of the reporting period. Other assets areclassified as non-current. Liabilities are classified as currentwhen they are expected to be settled in the normal operatingcycle of the Group, are held for trading, are expected to besettled within 12 months of the end of the reporting period, orif the group does not have an unconditional right to postponesettlement for at least 12 months after the reporting date.Provisions for obligations and other liabilities are classified asnon-current.Property, plant and equipmentO\ufb03ce machinery and operating equipment are measured atcost less accumulated depreciation.\ue7ebWhere individual components of an item of property, plant andequipment have different useful lives, they are depreciatedseparately. Depreciation is provided on a straight-line basisover the expected useful lives of the assets/components.Depreciation on machinery and operating equipment is linearover the expected useful lives of the assets based on thefollowing assessments of the expected useful lives of theassets: \ue7eb\u25cf O\ufb03ce machinery 3-5 years \ue7eb\ue7eb\ue7eb\u25cf Operating equipment 3-5 years\ue7ebImpairment of assetsThe carrying amount of intangible assets and property, plantand equipment alike is assessed annually for indications ofimpairment.Should indications of impairment occur, each asset or group ofassets, respectively, will be assessed in terms of impairment.Assets are written down to the recoverable amount if this islower than the carrying amount. The highest value of the netrealisable value and the estimated value in use is used as therecoverable amount.The value in use is calculated as the present value of theanticipated net income from the use of the asset or group ofassets.LeasesThe Group, as a lessee, assesses at contract inception whethera contract is, or contains, a lease. That is, if the contractconveys the right to control the use of an identified asset for aperiod of time in exchange for considerationThe Group, as a lessee, applies a single recognition andmeasurement approach for all leases, except for short-termleases and leases of low-value assets. The Group, as a lessee,recognises lease liabilities to make lease payments andright-of-use assets representing the right to use the underlyingassets.Right-of-use assetsThe Group recognises right-of-use assets at thecommencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured atcost, less any accumulated depreciation and impairmentlosses, and adjusted for any remeasurement of lease liabilities.The cost of right-of-use assets includes the amount of leaseliabilities recognised, initial direct costs incurred, and leasepayments made at or before the commencement date less anylease incentives received. Right-of-use assets are depreciatedon an amortisation basis, so that depreciation equalsinstalments on the lease liabilities, over the shorter of the leaseterm and the estimated useful lives of the assets, as follows:\u25cf O\ufb03ces 1-10 years\u25cf Company cars 1-3 years\ue7ebIf ownership of the leased asset transfers to the Group at theend of the lease term or the cost re\ufb02ects the exercise of apurchase option, depreciation is calculated using theestimated useful life of the asset.The Group applies IAS 36 Impairment of Assets to determinewhether the right-of-use asset is impaired and to account forany impairment loss identified.Lease liabilitiesAt the commencement date of the lease, the Group recogniseslease liabilities measured at the present value of leasepayments to be made over the lease term. The lease paymentsinclude fixed payments less any lease incentives receivable,variable lease payments that depend on an index or a rate. Thelease payments also include the exercise price of a purchaseoption reasonably certain to be exercised by the Group andpayments of penalties for terminating the lease, if the leaseterm re\ufb02ects the Group reasonably certain would be exercisingthe option to terminate. Variable lease payments that do notdepend on an index or a rate are recognised as expenses in theperiod in which the event or condition that triggers the paymentoccurs.In calculating the present value of lease payments, the Groupuses its incremental borrowing rate at the leasecommencement date because the interest rate implicit in thelease is not readily determinable. If the implicit rate isdeterminable, the implicit rate is applied. After thecommencement date, the amount of lease liabilities isincreased to re\ufb02ect the accretion of interest and reduced forthe lease payments made. In addition, the carrying amount oflease liabilities is remeasured if there is a modification, achange in the lease term, a change in the lease payments or achange in the assessment of an option to purchase theunderlying asset.The Group applies the short-term lease recognition exemptionto its short-term leases of machinery and equipment. It alsoapplies the lease of low-value assets recognition exemption toleases of equipment that are considered to be low value. Leasepayments on short-term leases and leases of low-value assetsare recognised as expenses on a straightline basis over thelease term.ReceivablesReceivables, which comprise receivables from sales, groupcompanies and other receivables are non-derivative financialassets with fixed or determinable payments that are notquoted in an active market.\ue7ebReceivables are initially measured at fair value.\ue7ebAfter initial measurement, they are subsequently measured atamortised cost using the effective interest rate method (EIR),less impairment. Amortised cost is calculated by taking intoaccount any discount or premium on acquisition and fees orcosts that are an integral part of the EIR. The EIR amortisationis included in finance income in the statement of profit or loss.\ue7ebThe losses arising from impairment are recognised in thestatement of profit or loss in finance costs for loans and incost of sales or other operating expenses for receivables.Cash and short-term depositsCash and short-term deposits in the statement of financialposition comprise cash at banks and at hand and short-termhighly liquid deposits with a maturity of three months or less,which are subject to an insignificant risk of changes in value.For the purpose of the consolidated statement of cash \ufb02ows,cash and cash equivalents consist of cash and short-termdeposits, as defined above, net of outstanding bank overdraftsas they are considered an integral part of the Group\u2019s cashmanagement.Treasury sharesOwn equity instruments that are reacquired (treasury shares)are recognised at cost and deducted from equity.No gain or loss is recognised in profit or loss on the purchase,sale, issue or cancellation of the Group\u2019s own equityinstruments. Any difference between the carrying amount andthe consideration, if reissued, is recognised in the sharepremium.\ue7ebFair value measurementThe Group measures financial instruments at fair value at eachbalance sheet date. Fair-value related disclosures for financialinstruments and non-financial assets that are measured at fairvalue or where fair values are disclosed, are summarised in thefollowing note 13.\ue7ebFair value is the price that would be received to sell an asset orpaid to transfer a liability in an orderly transaction betweenmarket participants at the measurement date. The fair valuemeasurement is based on the presumption that the transactionto sell the asset or transfer the liability takes place either in theprincipal market or, if not available, in the most advantageousmarket.\ue7ebThe principal or the most advantageous market must beaccessible by the Group.\ue7ebThe fair value of an asset or a liability is measured using theassumptions that market participants would use when pricingthe asset or liability, assuming that market participants act intheir economic best interest.A fair value measurement of a non-financial asset takes intoaccount a market participant's ability to generate economicbenefits by using the asset in its highest and best use or byselling it to another market participant that would use the assetin its highest and best use.The Group uses valuation techniques that are appropriate inthe circumstances and for which su\ufb03cient data are availableto measure fair value, maximising the use of relevantobservable inputs and minimising the use of unobservableinputs.All assets and liabilities for which fair value is measured ordisclosed in the financial statements are categorised within thefair value hierarchy, described as follows, based on the lowestlevel input that is significant to the fair value measurement as awhole:\u25cf Level 1 - Quoted (unadjusted) market prices in activemarkets for identical assets or liabilities\u25cf Level 2 - Valuation techniques for which the lowestlevel input that is significant to the fair valuemeasurement is directly or indirectly observable\u25cf Level 3 - Valuation techniques for which the lowestlevel input that is significant to the fair valuemeasurement is unobservableFor the purpose of fair value disclosures, the Group hasdetermined classes of assets and liabilities on the basis of thenature, characteristics and risks of the asset or liability and thelevel of the fair value hierarchy, as explained above.DividendsDividends are recognised when the Group\u2019s right to receive thepayment is established, which is generally when shareholdersapprove the dividend. Dividends to the Company'sshareholders are classified as a liability when the dividendsproposed have been approved by the Annual General Meeting.Employee benefitsThe Group has defined contribution pension plans. Thepension premiums are charged to expenses as they areincurred and classified as salary.Share-based paymentsEmployees, including senior executives of the Group, receiveremuneration in the form of share-based payments, wherebyemployees render services as consideration for equityinstruments (equity-settled transactions). Group employees inthe Norwegian entities have been granted shares at discountedprices, within the limit for such grants according to Norwegiantax legislation (equity-settled transactions).Equity-settled transactions\ue7eb\ue7ebThe cost of equity-settled transactions is determined by thefair value at the date when the grant is made using anappropriate valuation model. The cost is recognised inemployee benefits expense, together with a correspondingincrease in equity, over the period in which the service and theperformance conditions are fulfilled (the vesting period).\ue7eb Thecumulative expense recognised for equity-settled transactionsat each reporting date until the vesting date re\ufb02ects the extentto which the vesting period has expired and the Group's bestestimate of the number of equity instruments that willultimately vest. The expense or credit in the statement of profitor loss for a period represents the movement in cumulativeexpense recognised as at the beginning and end of that period.The dilutive effect of outstanding options is re\ufb02ected asadditional share dilution in the computation of diluted earningsper share.The discounts granted to employees in the Norwegian entitiesare recognised as a cost in salaries and personnel cost in theprofit and loss statement.Cash \ufb02ow statementThe cash \ufb02ow statement shows the Group\u2019s cash \ufb02ow for theyear divided into operating, investing and financing activitiesduring the year, as well as the year\u2019s changes in cash and cashequivalents and the Group\u2019s cash and cash equivalents at thebeginning and end of the year.Cash \ufb02ow from operating activitiesCash \ufb02ow from operating activities is presented using theindirect presentation form and is stated as the year\u2019sprofit/loss before tax plus depreciation and impairment lossesand with adjustments for changes in working capital and paidcorporate tax.Cash \ufb02ow from investing activitiesCash \ufb02ow from investing activities includes payments inconnection with the purchase and sale of non-current assets.Cash \ufb02ow from financing activitiesCash \ufb02ow from financing activities includes changes in volumeafter the pooling of the Company\u2019s share capital and relatedcosts as well as raising of loans, repayments oninterest-bearing debt, and payment of dividends to owners.Note 3 Estimates, judgments and assumptionsSignificant accounting judgement, estimates andassumptionsThe preparation of the Group\u2019s consolidated financialstatements requires management to make judgements,estimates and assumptions that affect the reported amountsof revenues, expenses, assets and liabilities, and theaccompanying disclosures, and the disclosure of contingentliabilities. Uncertainty about these assumptions and estimatescould result in outcomes that require a material adjustment tothe carrying amount of assets or liabilities affected in futureperiods.The key assumptions concerning the future and other keysources of estimation uncertainty at the reporting date, thathave a significant risk of causing a material adjustment to thecarrying amounts of assets and liabilities within the nextfinancial year, are described below.The Group based its assumptions and estimates onparameters available when the consolidated financialstatements were prepared. Existing circumstances andassumptions about future developments, however, may changedue to market changes or circumstances arising that arebeyond the control of the Group. Such changes are re\ufb02ected inthe assumptions when they occur.JudgementsIn the process of applying the Group\u2019s accounting policies,management has made the following judgements, which havethe most significant effect on the amounts recognised in theconsolidated financial statements:Estimates and assumptionsThe key assumptions concerning the future and other keysources of estimation uncertainty at the reporting date, thathave a significant risk of causing a material adjustment to thecarrying amounts of assets and liabilities within the nextfinancial year, are described below. The Group based itsassumptions and estimates on parameters available when theconsolidated financial statements were prepared. Existingcircumstances and assumptions about future developments,however, may change due to market changes or circumstancesarising that are beyond the control of the Group. Such changesare re\ufb02ected in the assumptions when they occur.Impairment of non-financial assetsImpairment exists when the carrying value of an asset orcash generating unit exceeds its recoverable amount, whichis the higher of its fair value less costs of disposal and itsvalue in use.The fair value less costs of disposal calculation is based onavailable data from binding sales transactions, conducted atarm\u2019s length, for similar assets or observable market pricesless incremental costs of disposing of the asset. The value inuse calculation is based on a DCF model. The cash \ufb02ows arederived from the strategic plans for the next five years anddo not include restructuring activities that the Group is notyet committed to or significant future investments that willenhance the performance of the assets of the CGU beingtested. The recoverable amount is sensitive to the discountrate used for the DCF model as well as the expected futurecash-in\ufb02ows and the growth rate used for extrapolationpurposes. These estimates are most relevant to goodwill andother intangibles with indefinite useful lives recognised bythe Group.The key assumptions used to determine the recoverableamount for the different CGUs are disclosed and furtherexplained in the notes.", "dimensions": { "concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__19": { "value": "Basis for preparationThe consolidated financial statements at 31 December 2022for Webstep ASA have been prepared in accordance with theInternational Financial Reporting Standards (IFRS) as adoptedby the European Union.\ue7ebThe consolidated financial statements for the year ended 31December 2022 were authorised for issue by the Board ofDirectors on 12 April 2023.The consolidated financial statements are presented inNorwegian kroner (NOK) and all values are rounded to thenearest thousand (NOK 000\u2019s), except when otherwiseindicated.The format for presenting the income statement is based onthe nature of the expenditure.Going concernThe Group has adopted the going concern basis in preparingits consolidated financial statements. When assessing thisassumption, management has assessed all availableinformation about the future. This comprises informationabout net cash \ufb02ows from existing contracts and debt serviceobligations. Forecasts take into consideration expected futurenet income. Management has a reasonable expectation thatthe Group has adequate resources to continue its operationalexistence for the foreseeable future.\ue7eb\ue7ebBasis of measurement\ue7ebThe consolidated financial statements have been preparedunder the historical cost convention.The preparation of financial statements in conformity with IFRSrequires the use of certain critical accounting estimates.It also requires management to exercise its judgement in theprocess of applying the Group's accounting policies. The areasinvolving higher degree of judgement or complexity, or areaswhere the assumptions and estimates are significant to theconsolidated financial statements are disclosed in note 3.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__18": { "value": "Basis for preparationThe consolidated financial statements at 31 December 2022for Webstep ASA have been prepared in accordance with theInternational Financial Reporting Standards (IFRS) as adoptedby the European Union.\ue7ebThe consolidated financial statements for the year ended 31December 2022 were authorised for issue by the Board ofDirectors on 12 April 2023.The consolidated financial statements are presented inNorwegian kroner (NOK) and all values are rounded to thenearest thousand (NOK 000\u2019s), except when otherwiseindicated.The format for presenting the income statement is based onthe nature of the expenditure.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__20": { "value": "Going concernThe Group has adopted the going concern basis in preparingits consolidated financial statements. When assessing thisassumption, management has assessed all availableinformation about the future. This comprises informationabout net cash \ufb02ows from existing contracts and debt serviceobligations. Forecasts take into consideration expected futurenet income. Management has a reasonable expectation thatthe Group has adequate resources to continue its operationalexistence for the foreseeable future.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__21-1": { "value": "Basis of measurement\ue7ebThe consolidated financial statements have been preparedunder the historical cost convention.The preparation of financial statements in conformity with IFRSrequires the use of certain critical accounting estimates.It also requires management to exercise its judgement in theprocess of applying the Group's accounting policies. The areasinvolving higher degree of judgement or complexity, or areaswhere the assumptions and estimates are significant to theconsolidated financial statements are disclosed in note 3.Note 3 Estimates, judgments and assumptionsSignificant accounting judgement, estimates andassumptionsThe preparation of the Group\u2019s consolidated financialstatements requires management to make judgements,estimates and assumptions that affect the reported amountsof revenues, expenses, assets and liabilities, and theaccompanying disclosures, and the disclosure of contingentliabilities. Uncertainty about these assumptions and estimatescould result in outcomes that require a material adjustment tothe carrying amount of assets or liabilities affected in futureperiods.The key assumptions concerning the future and other keysources of estimation uncertainty at the reporting date, thathave a significant risk of causing a material adjustment to thecarrying amounts of assets and liabilities within the nextfinancial year, are described below.The Group based its assumptions and estimates onparameters available when the consolidated financialstatements were prepared. Existing circumstances andassumptions about future developments, however, may changedue to market changes or circumstances arising that arebeyond the control of the Group. Such changes are re\ufb02ected inthe assumptions when they occur.JudgementsIn the process of applying the Group\u2019s accounting policies,management has made the following judgements, which havethe most significant effect on the amounts recognised in theconsolidated financial statements:Estimates and assumptionsThe key assumptions concerning the future and other keysources of estimation uncertainty at the reporting date, thathave a significant risk of causing a material adjustment to thecarrying amounts of assets and liabilities within the nextfinancial year, are described below. The Group based itsassumptions and estimates on parameters available when theconsolidated financial statements were prepared. Existingcircumstances and assumptions about future developments,however, may change due to market changes or circumstancesarising that are beyond the control of the Group. Such changesare re\ufb02ected in the assumptions when they occur.Impairment of non-financial assetsImpairment exists when the carrying value of an asset orcash generating unit exceeds its recoverable amount, whichis the higher of its fair value less costs of disposal and itsvalue in use.The fair value less costs of disposal calculation is based onavailable data from binding sales transactions, conducted atarm\u2019s length, for similar assets or observable market pricesless incremental costs of disposing of the asset. The value inuse calculation is based on a DCF model. The cash \ufb02ows arederived from the strategic plans for the next five years anddo not include restructuring activities that the Group is notyet committed to or significant future investments that willenhance the performance of the assets of the CGU beingtested. The recoverable amount is sensitive to the discountrate used for the DCF model as well as the expected futurecash-in\ufb02ows and the growth rate used for extrapolationpurposes. These estimates are most relevant to goodwill andother intangibles with indefinite useful lives recognised bythe Group.The key assumptions used to determine the recoverableamount for the different CGUs are disclosed and furtherexplained in the notes.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__22": { "value": "Basis of consolidationThe consolidated financial statements comprise the financialstatements of the Group and its subsidiaries as at 31December 2022. Control is achieved when the Group isexposed, or has rights, to variable returns from its involvementwith the investee and has the ability to affect those returnsthrough its power over the investee. The Group re-assesseswhether or not it controls an investee if facts andcircumstances indicate that there are changes to one or moreof the three elements of control. Consolidation of a subsidiarybegins when the Group obtains control over the subsidiary andceases when the Group loses control of the subsidiary. Assets,liabilities, income and expenses of a subsidiary acquired ordisposed of during the year are included in the consolidatedfinancial statements from the date the Group gains controluntil the date the Group ceases to control the subsidiary.Profit or loss and each component of other comprehensiveincome (\u201cOCI\u201d) are attributed to the equity holders of the parentof the Group and to the non-controlling interests, even if thisresults in the non-controlling interests having a deficit balance.When necessary, adjustments are made to the financialstatements of subsidiaries to bring their accounting policiesinto line with the Group\u2019s accounting policies. All intra-groupassets and liabilities, equity, income, expenses and cash \ufb02owsrelating to transactions between members of the Group areeliminated in full on consolidation.A change in the ownership interest of a subsidiary, without aloss of control, is accounted for as an equity transaction. If theGroup loses control over a subsidiary, it derecognises therelated assets (including goodwill), liabilities, non-controllinginterest and other components of equity, while any resultantgain or loss is recognised in profit or loss. Any investmentretained is recognised at fair value.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__24": { "value": "Foreign currency translationThe Group\u2019s consolidated financial statements are presented inNorwegian kroner (NOK), which is also the parent company\u2019sfunctional currency. For each entity, the Group determines thefunctional currency and items included in the financialstatements of each entity are measured using that functionalcurrency.Transactions in foreign currencies are initially recorded by theGroup\u2019s entities at their respective functional currency spotrates at the date the transaction first qualifies for recognition.Receivables, debt and other monetary items denominated inforeign currencies are translated using the exchange rate at thebalance sheet date. Differences between the exchange rate atthe balance sheet date and the date on which the receivable ordebt arose, or was included in the latest balance sheet, arerecognised in the income statement and presented as financialincome and expenses.Differences in exchange rates arising from the translation offoreign subsidiaries\u2019 equity at the beginning of the year at theexchange rates at the balance sheet date and from thetranslation of income statements from the monthly averageexchange rates for the currency exchange rates at the balancesheet date are recognised directly in other comprehensiveincome.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__23": { "value": "Foreign currency translationThe Group\u2019s consolidated financial statements are presented inNorwegian kroner (NOK), which is also the parent company\u2019sfunctional currency. For each entity, the Group determines thefunctional currency and items included in the financialstatements of each entity are measured using that functionalcurrency.Transactions in foreign currencies are initially recorded by theGroup\u2019s entities at their respective functional currency spotrates at the date the transaction first qualifies for recognition.Receivables, debt and other monetary items denominated inforeign currencies are translated using the exchange rate at thebalance sheet date. Differences between the exchange rate atthe balance sheet date and the date on which the receivable ordebt arose, or was included in the latest balance sheet, arerecognised in the income statement and presented as financialincome and expenses.Differences in exchange rates arising from the translation offoreign subsidiaries\u2019 equity at the beginning of the year at theexchange rates at the balance sheet date and from thetranslation of income statements from the monthly averageexchange rates for the currency exchange rates at the balancesheet date are recognised directly in other comprehensiveincome.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__25": { "value": "Segment reportingOperating segments are reported by country of operation,which currently is Norway and Sweden. The board of WebstepASA has appointed a strategic steering committee whichassesses the financial performance and position of the Groupand makes strategic decisions. The steering committee, whichhas been identified as being the chief operating decisionmaker, consists of the chief executive o\ufb03cer (CEO) and thechief financial o\ufb03cer (CFO).", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__26-1": { "value": "Revenues from contracts with customersThe Group is in the business of selling IT-consultancymanhours to its customers. Revenue for IT- services are to berecognised over time because the customer simultaneouslyreceives and consumes the benefits provided by the Group, andsatisfies each of its performance obligations (that is, it fulfilsits promises to the customer) over time by transferring controlof the promised service underlying that performance obligationto the customer. The fact that another entity would not need tore-perform the services that the Group has provided to datedemonstrates that the customer simultaneously receives andconsumes the benefits of the group\u2019s performance as itperforms. The input method is considered to be the bestmethod when recognising revenue over time because there is adirect relationship between the group\u2019s effort (i.e., labour hoursincurred) and the transfer of service to the customer. Thecontracts are normally based on service agreements withhourly fees. Fixed price contracts are recognised as revenueaccording to the stage of completion, using an input method tomeasure progress towards complete satisfaction of theservice, because the customer simultaneously receives andconsumes the benefits provided by the group. The inputmethod used to measure progress is based on the number ofhours worked, as this is considered to provide a faithfuldepiction of the transfer of services.Estimated loss on contracts will be recognised in the incomestatement in its entirety in the period when it has beenidentified.Contract balancesContract assetsA contract asset is initially recognised for revenue earned frombillable hours delivered yet not invoiced the customer. Whenthe billable hours are invoiced, the invoiced amount istransferred to trade receivables. Contract assets are subject toimpairment assessment.Contract liabilitiesA contract liability is recognised if a payment is received or apayment is due from the customer before the Group transfersthe related services. Contract liabilities are recognised asrevenue when the Group performs under the contract anddelivers or transfers the services to the customer.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__28": { "value": "Cost of goods and services (COGS)Cost of goods and services is recognised at the point in timewhen the corresponding service or good is delivered to thecustomer. Cost of goods and services mainly comprises costto subcontractors which are engaged by the Group to deliverconsultancy hours to the customers.Salaries and personnel expensesSalaries and personnel expenses include salaries and wages,as well as social benefits, pensions, etc. for the Group\u2019semployees.Other operating expensesOther operating expenses include expenditure for sales,marketing, advertising, IT, administration, facilities, etc.\ue7ebFinance income and expense\u201cFinance income\u201d and \u201cFinance expense\u201d respectively, includeinterest, capital gains and losses concerning securities, debtand exchange differences on transactions in foreign currency.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__55-1": { "value": "Salaries and personnel expensesSalaries and personnel expenses include salaries and wages,as well as social benefits, pensions, etc. for the Group\u2019semployees.Employee benefitsThe Group has defined contribution pension plans. Thepension premiums are charged to expenses as they areincurred and classified as salary.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__30": { "value": "Finance income and expense\u201cFinance income\u201d and \u201cFinance expense\u201d respectively, includeinterest, capital gains and losses concerning securities, debtand exchange differences on transactions in foreign currency.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__29": { "value": "Finance income and expense\u201cFinance income\u201d and \u201cFinance expense\u201d respectively, includeinterest, capital gains and losses concerning securities, debtand exchange differences on transactions in foreign currency.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__31": { "value": "Government grantsFor contributions received accounted for as government grantsrelated to income under IAS 20, the accounting policy of theGroup is to recognize such grants when there is reasonableassurance that the conditions attaching to the grant will becomplied with and that the grants will be received. The grantsare recognized as income unless directly related to specificitems of expense.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__33": { "value": "Taxes\ue7ebThe income tax expense or credit for the period is the taxpayable on the current period\u2019s taxable income based on theapplicable income tax rate for each jurisdiction adjusted bychanges in deferred tax assets and liabilities attributable totemporary differences and tax losses carried forward.The current income tax charge is calculated on the basis of thetax laws enacted or substantively enacted at the end of thereporting period in Norway and Sweden where the Groupoperates and generates taxable income. Managementperiodically evaluates positions taken in tax returns withrespect to situations in which applicable tax regulation issubject to interpretation. It establishes provisions whereappropriate on the basis of amounts expected to be paid to thetax authorities.Deferred income tax is provided in full, using the liabilitymethod, on temporary differences arising between the taxbases of assets and liabilities and their carrying amounts in theconsolidated financial statements. However, deferred taxliabilities are not recognised if they arise from the initialrecognition of goodwill.Deferred income tax is also not accounted for if it arises frominitial recognition of an asset or liability in a transaction otherthan a business combination that at the time of the transactionaffects neither accounting nor taxable profit or loss. Deferredincome tax is determined using tax rates (and tax laws) thathave been enacted or substantially enacted by the end of thereporting period and are expected to apply when the relateddeferred income tax asset is realised or the deferred incometax liability is settled.Deferred tax assets are recognised only if it is probable thatfuture taxable amounts will be available to utilise thosetemporary differences and losses.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__32": { "value": "Deferred income tax is provided in full, using the liabilitymethod, on temporary differences arising between the taxbases of assets and liabilities and their carrying amounts in theconsolidated financial statements. However, deferred taxliabilities are not recognised if they arise from the initialrecognition of goodwill.Deferred income tax is also not accounted for if it arises frominitial recognition of an asset or liability in a transaction otherthan a business combination that at the time of the transactionaffects neither accounting nor taxable profit or loss. Deferredincome tax is determined using tax rates (and tax laws) thathave been enacted or substantially enacted by the end of thereporting period and are expected to apply when the relateddeferred income tax asset is realised or the deferred incometax liability is settled.Deferred tax assets are recognised only if it is probable thatfuture taxable amounts will be available to utilise thosetemporary differences and losses.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__35-1": { "value": "Intangible assetsIntangible assets acquired separately are measured on initialrecognition at cost. The cost of intangible assets acquired in abusiness combination is their fair value at the date ofacquisition. Following initial recognition, intangible assets arecarried at cost less any accumulated amortisation andaccumulated impairment losses.Internally generated intangibles, excluding capitaliseddevelopment costs, are not capitalised and the relatedexpenditure is re\ufb02ected in profit or loss in the period in whichthe expenditure is incurred.The useful lives of intangible assets are assessed as eitherfinite or indefinite.Intangible assets with finite lives are amortised over the usefuleconomic life and assessed for impairment whenever there isan indication that the intangible asset may be impaired. Theamortisation period and the method are reviewed at least atthe end of each reporting period. Changes in the expecteduseful life or the expected pattern of consumption of futureeconomic benefits are considered to modify the amortisationperiod or method, as appropriate, and are treated as changesin accounting estimates.Intangible assets with an indefinite economic life are tested forimpairment at least once a year, either individually or as a partof a cash-generating unit. Intangible assets with an indefiniteeconomic life are not amortised. Economic life is assessedannually with regard to whether the assumption of an indefiniteeconomic life can be justified. If it cannot, the change to adefinite economic life is made prospectively.Research and development costsExpenses relating to research activities are recognised in thestatement of comprehensive income as they incur. Expensesrelating to development activities are capitalised to the extentthat the product or process is technically and commerciallyviable and the Group has su\ufb03cient resources to complete thedevelopment work. Expenses that are capitalised include thecosts of materials, direct wage costs and a share of thedirectly attributable common expenses. Capitaliseddevelopment costs are recognised at their cost lessaccumulated depreciation and accumulated impairmentlosses. Depreciation of the asset begins when development iscomplete and the asset is available for use. Capitaliseddevelopment costs are depreciated on a straight-line basisover the period of expected future benefits. During the periodof development, the asset is tested for impairment annually.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__34": { "value": "Intangible assetsIntangible assets acquired separately are measured on initialrecognition at cost. The cost of intangible assets acquired in abusiness combination is their fair value at the date ofacquisition. Following initial recognition, intangible assets arecarried at cost less any accumulated amortisation andaccumulated impairment losses.Internally generated intangibles, excluding capitaliseddevelopment costs, are not capitalised and the relatedexpenditure is re\ufb02ected in profit or loss in the period in whichthe expenditure is incurred.The useful lives of intangible assets are assessed as eitherfinite or indefinite.Intangible assets with finite lives are amortised over the usefuleconomic life and assessed for impairment whenever there isan indication that the intangible asset may be impaired. Theamortisation period and the method are reviewed at least atthe end of each reporting period. Changes in the expecteduseful life or the expected pattern of consumption of futureeconomic benefits are considered to modify the amortisationperiod or method, as appropriate, and are treated as changesin accounting estimates.Intangible assets with an indefinite economic life are tested forimpairment at least once a year, either individually or as a partof a cash-generating unit. Intangible assets with an indefiniteeconomic life are not amortised. Economic life is assessedannually with regard to whether the assumption of an indefiniteeconomic life can be justified. If it cannot, the change to adefinite economic life is made prospectively.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__37": { "value": "Research and development costsExpenses relating to research activities are recognised in thestatement of comprehensive income as they incur. Expensesrelating to development activities are capitalised to the extentthat the product or process is technically and commerciallyviable and the Group has su\ufb03cient resources to complete thedevelopment work. Expenses that are capitalised include thecosts of materials, direct wage costs and a share of thedirectly attributable common expenses. Capitaliseddevelopment costs are recognised at their cost lessaccumulated depreciation and accumulated impairmentlosses. Depreciation of the asset begins when development iscomplete and the asset is available for use. Capitaliseddevelopment costs are depreciated on a straight-line basisover the period of expected future benefits. During the periodof development, the asset is tested for impairment annually.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__41": { "value": "Business combination and goodwillBusiness combinations are accounted for using the acquisitionmethod. The cost of an acquisition is measured as theaggregate of the consideration transferred, which is measuredat acquisition date, fair value, and the amount of anynon-controlling interests in the acquiree. For each businesscombination, the Group elects whether to measure thenon-controlling interests in the acquiree at fair value or at theproportionate share of the acquiree\u2019s identifiable net assets.Acquisition-related costs are expensed as incurred andincluded in administrative expenses.When the Group acquires a business, it assesses the financialassets and liabilities assumed for appropriate classificationand designation in accordance with the contractual terms,economic circumstances and pertinent conditions as at theacquisition date. Goodwill is initially measured at cost (beingthe excess of the aggregate of the consideration transferredand the amount recognised for non-controlling interests andany previous interest held over the net identifiable assetsacquired and liabilities assumed). If the fair value of the netassets acquired is in excess of the aggregate considerationtransferred, the Group re-assesses whether it has correctlyidentified all of the assets acquired and all of the liabilitiesassumed and reviews the procedures used to measure theamounts to be recognised at the acquisition date. If thereassessment still results in an excess of the fair value of netassets acquired over the aggregate consideration transferred,then the gain is recognised in profit or loss.After initial recognition, goodwill is measured at cost less anyaccumulated impairment losses. For the purpose ofimpairment testing, goodwill acquired in a businesscombination is, from the acquisition date, allocated to each ofthe Group\u2019s cash-generating units that are expected to benefitfrom the combination, irrespective of whether other assets orliabilities of the acquiree are assigned to those units.Goodwill is tested for impairment annually as at 31 Decemberand when circumstances indicate that the carrying value maybe impaired. Impairment is determined for goodwill byassessing the recoverable amount of each CGU (or group ofCGUs) to which the goodwill relates. The Group bases itsimpairment calculation on detailed budgets and forecastcalculations, which are prepared separately for each of theGroup\u2019s CGUs to which the individual assets are allocated.These budgets and forecast calculations generally cover aperiod of five years. A long-term growth rate is calculated andapplied to project future cash \ufb02ows after the fifth year. Whenthe recoverable amount of the CGU is less than its carryingamount, an impairment loss is recognised. Impairment lossesrelating to goodwill cannot be reversed in future periods.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__40": { "value": "Business combination and goodwillBusiness combinations are accounted for using the acquisitionmethod. The cost of an acquisition is measured as theaggregate of the consideration transferred, which is measuredat acquisition date, fair value, and the amount of anynon-controlling interests in the acquiree. For each businesscombination, the Group elects whether to measure thenon-controlling interests in the acquiree at fair value or at theproportionate share of the acquiree\u2019s identifiable net assets.Acquisition-related costs are expensed as incurred andincluded in administrative expenses.When the Group acquires a business, it assesses the financialassets and liabilities assumed for appropriate classificationand designation in accordance with the contractual terms,economic circumstances and pertinent conditions as at theacquisition date. Goodwill is initially measured at cost (beingthe excess of the aggregate of the consideration transferredand the amount recognised for non-controlling interests andany previous interest held over the net identifiable assetsacquired and liabilities assumed). If the fair value of the netassets acquired is in excess of the aggregate considerationtransferred, the Group re-assesses whether it has correctlyidentified all of the assets acquired and all of the liabilitiesassumed and reviews the procedures used to measure theamounts to be recognised at the acquisition date. If thereassessment still results in an excess of the fair value of netassets acquired over the aggregate consideration transferred,then the gain is recognised in profit or loss.After initial recognition, goodwill is measured at cost less anyaccumulated impairment losses. For the purpose ofimpairment testing, goodwill acquired in a businesscombination is, from the acquisition date, allocated to each ofthe Group\u2019s cash-generating units that are expected to benefitfrom the combination, irrespective of whether other assets orliabilities of the acquiree are assigned to those units.Goodwill is tested for impairment annually as at 31 Decemberand when circumstances indicate that the carrying value maybe impaired. Impairment is determined for goodwill byassessing the recoverable amount of each CGU (or group ofCGUs) to which the goodwill relates. The Group bases itsimpairment calculation on detailed budgets and forecastcalculations, which are prepared separately for each of theGroup\u2019s CGUs to which the individual assets are allocated.These budgets and forecast calculations generally cover aperiod of five years. A long-term growth rate is calculated andapplied to project future cash \ufb02ows after the fifth year. Whenthe recoverable amount of the CGU is less than its carryingamount, an impairment loss is recognised. Impairment lossesrelating to goodwill cannot be reversed in future periods.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__39": { "value": "Business combination and goodwillBusiness combinations are accounted for using the acquisitionmethod. The cost of an acquisition is measured as theaggregate of the consideration transferred, which is measuredat acquisition date, fair value, and the amount of anynon-controlling interests in the acquiree. For each businesscombination, the Group elects whether to measure thenon-controlling interests in the acquiree at fair value or at theproportionate share of the acquiree\u2019s identifiable net assets.Acquisition-related costs are expensed as incurred andincluded in administrative expenses.When the Group acquires a business, it assesses the financialassets and liabilities assumed for appropriate classificationand designation in accordance with the contractual terms,economic circumstances and pertinent conditions as at theacquisition date. Goodwill is initially measured at cost (beingthe excess of the aggregate of the consideration transferredand the amount recognised for non-controlling interests andany previous interest held over the net identifiable assetsacquired and liabilities assumed). If the fair value of the netassets acquired is in excess of the aggregate considerationtransferred, the Group re-assesses whether it has correctlyidentified all of the assets acquired and all of the liabilitiesassumed and reviews the procedures used to measure theamounts to be recognised at the acquisition date. If thereassessment still results in an excess of the fair value of netassets acquired over the aggregate consideration transferred,then the gain is recognised in profit or loss.After initial recognition, goodwill is measured at cost less anyaccumulated impairment losses. For the purpose ofimpairment testing, goodwill acquired in a businesscombination is, from the acquisition date, allocated to each ofthe Group\u2019s cash-generating units that are expected to benefitfrom the combination, irrespective of whether other assets orliabilities of the acquiree are assigned to those units.Goodwill is tested for impairment annually as at 31 Decemberand when circumstances indicate that the carrying value maybe impaired. Impairment is determined for goodwill byassessing the recoverable amount of each CGU (or group ofCGUs) to which the goodwill relates. The Group bases itsimpairment calculation on detailed budgets and forecastcalculations, which are prepared separately for each of theGroup\u2019s CGUs to which the individual assets are allocated.These budgets and forecast calculations generally cover aperiod of five years. A long-term growth rate is calculated andapplied to project future cash \ufb02ows after the fifth year. Whenthe recoverable amount of the CGU is less than its carryingamount, an impairment loss is recognised. Impairment lossesrelating to goodwill cannot be reversed in future periods.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__38": { "value": "Business combination and goodwillBusiness combinations are accounted for using the acquisitionmethod. The cost of an acquisition is measured as theaggregate of the consideration transferred, which is measuredat acquisition date, fair value, and the amount of anynon-controlling interests in the acquiree. For each businesscombination, the Group elects whether to measure thenon-controlling interests in the acquiree at fair value or at theproportionate share of the acquiree\u2019s identifiable net assets.Acquisition-related costs are expensed as incurred andincluded in administrative expenses.When the Group acquires a business, it assesses the financialassets and liabilities assumed for appropriate classificationand designation in accordance with the contractual terms,economic circumstances and pertinent conditions as at theacquisition date. Goodwill is initially measured at cost (beingthe excess of the aggregate of the consideration transferredand the amount recognised for non-controlling interests andany previous interest held over the net identifiable assetsacquired and liabilities assumed). If the fair value of the netassets acquired is in excess of the aggregate considerationtransferred, the Group re-assesses whether it has correctlyidentified all of the assets acquired and all of the liabilitiesassumed and reviews the procedures used to measure theamounts to be recognised at the acquisition date. If thereassessment still results in an excess of the fair value of netassets acquired over the aggregate consideration transferred,then the gain is recognised in profit or loss.After initial recognition, goodwill is measured at cost less anyaccumulated impairment losses. For the purpose ofimpairment testing, goodwill acquired in a businesscombination is, from the acquisition date, allocated to each ofthe Group\u2019s cash-generating units that are expected to benefitfrom the combination, irrespective of whether other assets orliabilities of the acquiree are assigned to those units.Goodwill is tested for impairment annually as at 31 Decemberand when circumstances indicate that the carrying value maybe impaired. Impairment is determined for goodwill byassessing the recoverable amount of each CGU (or group ofCGUs) to which the goodwill relates. The Group bases itsimpairment calculation on detailed budgets and forecastcalculations, which are prepared separately for each of theGroup\u2019s CGUs to which the individual assets are allocated.These budgets and forecast calculations generally cover aperiod of five years. A long-term growth rate is calculated andapplied to project future cash \ufb02ows after the fifth year. Whenthe recoverable amount of the CGU is less than its carryingamount, an impairment loss is recognised. Impairment lossesrelating to goodwill cannot be reversed in future periods.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__42": { "value": "Current versus non-current classificationAn asset is classified as current when it is expected to berealised or sold, or to be used in the Group's normal operatingcycle or falls due or is expected to be realised within 12months after the end of the reporting period. Other assets areclassified as non-current. Liabilities are classified as currentwhen they are expected to be settled in the normal operatingcycle of the Group, are held for trading, are expected to besettled within 12 months of the end of the reporting period, orif the group does not have an unconditional right to postponesettlement for at least 12 months after the reporting date.Provisions for obligations and other liabilities are classified asnon-current.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__44": { "value": "Property, plant and equipmentO\ufb03ce machinery and operating equipment are measured atcost less accumulated depreciation.\ue7ebWhere individual components of an item of property, plant andequipment have different useful lives, they are depreciatedseparately. Depreciation is provided on a straight-line basisover the expected useful lives of the assets/components.Depreciation on machinery and operating equipment is linearover the expected useful lives of the assets based on thefollowing assessments of the expected useful lives of theassets: \ue7eb\u25cf O\ufb03ce machinery 3-5 years \ue7eb\ue7eb\ue7eb\u25cf Operating equipment 3-5 years\ue7ebImpairment of assetsThe carrying amount of intangible assets and property, plantand equipment alike is assessed annually for indications ofimpairment.Should indications of impairment occur, each asset or group ofassets, respectively, will be assessed in terms of impairment.Assets are written down to the recoverable amount if this islower than the carrying amount. The highest value of the netrealisable value and the estimated value in use is used as therecoverable amount.The value in use is calculated as the present value of theanticipated net income from the use of the asset or group ofassets.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__43-1": { "value": "Property, plant and equipmentO\ufb03ce machinery and operating equipment are measured atcost less accumulated depreciation.\ue7ebWhere individual components of an item of property, plant andequipment have different useful lives, they are depreciatedseparately. Depreciation is provided on a straight-line basisover the expected useful lives of the assets/components.Depreciation on machinery and operating equipment is linearover the expected useful lives of the assets based on thefollowing assessments of the expected useful lives of theassets: \ue7eb\u25cf O\ufb03ce machinery 3-5 years \ue7eb\ue7eb\ue7eb\u25cf Operating equipment 3-5 years\ue7ebRight-of-use assetsThe Group recognises right-of-use assets at thecommencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured atcost, less any accumulated depreciation and impairmentlosses, and adjusted for any remeasurement of lease liabilities.The cost of right-of-use assets includes the amount of leaseliabilities recognised, initial direct costs incurred, and leasepayments made at or before the commencement date less anylease incentives received. Right-of-use assets are depreciatedon an amortisation basis, so that depreciation equalsinstalments on the lease liabilities, over the shorter of the leaseterm and the estimated useful lives of the assets, as follows:\u25cf O\ufb03ces 1-10 years\u25cf Company cars 1-3 years\ue7ebIf ownership of the leased asset transfers to the Group at theend of the lease term or the cost re\ufb02ects the exercise of apurchase option, depreciation is calculated using theestimated useful life of the asset.The Group applies IAS 36 Impairment of Assets to determinewhether the right-of-use asset is impaired and to account forany impairment loss identified.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__45": { "value": "Impairment of assetsThe carrying amount of intangible assets and property, plantand equipment alike is assessed annually for indications ofimpairment.Should indications of impairment occur, each asset or group ofassets, respectively, will be assessed in terms of impairment.Assets are written down to the recoverable amount if this islower than the carrying amount. The highest value of the netrealisable value and the estimated value in use is used as therecoverable amount.The value in use is calculated as the present value of theanticipated net income from the use of the asset or group ofassets.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__46": { "value": "LeasesThe Group, as a lessee, assesses at contract inception whethera contract is, or contains, a lease. That is, if the contractconveys the right to control the use of an identified asset for aperiod of time in exchange for considerationThe Group, as a lessee, applies a single recognition andmeasurement approach for all leases, except for short-termleases and leases of low-value assets. The Group, as a lessee,recognises lease liabilities to make lease payments andright-of-use assets representing the right to use the underlyingassets.Right-of-use assetsThe Group recognises right-of-use assets at thecommencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured atcost, less any accumulated depreciation and impairmentlosses, and adjusted for any remeasurement of lease liabilities.The cost of right-of-use assets includes the amount of leaseliabilities recognised, initial direct costs incurred, and leasepayments made at or before the commencement date less anylease incentives received. Right-of-use assets are depreciatedon an amortisation basis, so that depreciation equalsinstalments on the lease liabilities, over the shorter of the leaseterm and the estimated useful lives of the assets, as follows:\u25cf O\ufb03ces 1-10 years\u25cf Company cars 1-3 years\ue7ebIf ownership of the leased asset transfers to the Group at theend of the lease term or the cost re\ufb02ects the exercise of apurchase option, depreciation is calculated using theestimated useful life of the asset.The Group applies IAS 36 Impairment of Assets to determinewhether the right-of-use asset is impaired and to account forany impairment loss identified.Lease liabilitiesAt the commencement date of the lease, the Group recogniseslease liabilities measured at the present value of leasepayments to be made over the lease term. The lease paymentsinclude fixed payments less any lease incentives receivable,variable lease payments that depend on an index or a rate. Thelease payments also include the exercise price of a purchaseoption reasonably certain to be exercised by the Group andpayments of penalties for terminating the lease, if the leaseterm re\ufb02ects the Group reasonably certain would be exercisingthe option to terminate. Variable lease payments that do notdepend on an index or a rate are recognised as expenses in theperiod in which the event or condition that triggers the paymentoccurs.In calculating the present value of lease payments, the Groupuses its incremental borrowing rate at the leasecommencement date because the interest rate implicit in thelease is not readily determinable. If the implicit rate isdeterminable, the implicit rate is applied. After thecommencement date, the amount of lease liabilities isincreased to re\ufb02ect the accretion of interest and reduced forthe lease payments made. In addition, the carrying amount oflease liabilities is remeasured if there is a modification, achange in the lease term, a change in the lease payments or achange in the assessment of an option to purchase theunderlying asset.The Group applies the short-term lease recognition exemptionto its short-term leases of machinery and equipment. It alsoapplies the lease of low-value assets recognition exemption toleases of equipment that are considered to be low value. Leasepayments on short-term leases and leases of low-value assetsare recognised as expenses on a straightline basis over thelease term.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__48-1": { "value": "ReceivablesReceivables, which comprise receivables from sales, groupcompanies and other receivables are non-derivative financialassets with fixed or determinable payments that are notquoted in an active market.\ue7ebReceivables are initially measured at fair value.\ue7ebAfter initial measurement, they are subsequently measured atamortised cost using the effective interest rate method (EIR),less impairment. Amortised cost is calculated by taking intoaccount any discount or premium on acquisition and fees orcosts that are an integral part of the EIR. The EIR amortisationis included in finance income in the statement of profit or loss.\ue7ebThe losses arising from impairment are recognised in thestatement of profit or loss in finance costs for loans and incost of sales or other operating expenses for receivables.Trade receivablesThe Group\u2019s exposure to credit risk is in\ufb02uenced mainly by the individual characteristics of each customer. The Group engageswith large and regular customers and has had low historical losses on receivables. In response to the COVID-19 pandemic, theGroup was monitoring the economic environment and took actions to limit its exposure to customers that were severelyimpacted. In accordance with IFRS 9, receivables are recognised and carried at their anticipated realisable value, which impliesthat a provision for a loss allowance on lifetime expected credit losses of the receivable is recognised. A provision for lossallowance for expected credit losses is performed at each statutory reporting date and is based on a multifactor and holisticanalysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2022Trade debtors (note 14)99,95742,2021,1743,395146,730Expected credit loss rate (per cent)0.67%Expected credit loss (NOK 000's)988As of December 31 2021Trade debtors (note 14)93,72036,2713,009749133,749Expected credit loss rate (per cent)0.74%Expected credit loss (NOK 000's)988", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__51": { "value": "Cash and short-term depositsCash and short-term deposits in the statement of financialposition comprise cash at banks and at hand and short-termhighly liquid deposits with a maturity of three months or less,which are subject to an insignificant risk of changes in value.For the purpose of the consolidated statement of cash \ufb02ows,cash and cash equivalents consist of cash and short-termdeposits, as defined above, net of outstanding bank overdraftsas they are considered an integral part of the Group\u2019s cashmanagement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__50": { "value": "Cash and short-term depositsCash and short-term deposits in the statement of financialposition comprise cash at banks and at hand and short-termhighly liquid deposits with a maturity of three months or less,which are subject to an insignificant risk of changes in value.For the purpose of the consolidated statement of cash \ufb02ows,cash and cash equivalents consist of cash and short-termdeposits, as defined above, net of outstanding bank overdraftsas they are considered an integral part of the Group\u2019s cashmanagement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__52": { "value": "Treasury sharesOwn equity instruments that are reacquired (treasury shares)are recognised at cost and deducted from equity.No gain or loss is recognised in profit or loss on the purchase,sale, issue or cancellation of the Group\u2019s own equityinstruments. Any difference between the carrying amount andthe consideration, if reissued, is recognised in the sharepremium.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__53": { "value": "Fair value measurementThe Group measures financial instruments at fair value at eachbalance sheet date. Fair-value related disclosures for financialinstruments and non-financial assets that are measured at fairvalue or where fair values are disclosed, are summarised in thefollowing note 13.\ue7ebFair value is the price that would be received to sell an asset orpaid to transfer a liability in an orderly transaction betweenmarket participants at the measurement date. The fair valuemeasurement is based on the presumption that the transactionto sell the asset or transfer the liability takes place either in theprincipal market or, if not available, in the most advantageousmarket.\ue7ebThe principal or the most advantageous market must beaccessible by the Group.\ue7ebThe fair value of an asset or a liability is measured using theassumptions that market participants would use when pricingthe asset or liability, assuming that market participants act intheir economic best interest.A fair value measurement of a non-financial asset takes intoaccount a market participant's ability to generate economicbenefits by using the asset in its highest and best use or byselling it to another market participant that would use the assetin its highest and best use.The Group uses valuation techniques that are appropriate inthe circumstances and for which su\ufb03cient data are availableto measure fair value, maximising the use of relevantobservable inputs and minimising the use of unobservableinputs.All assets and liabilities for which fair value is measured ordisclosed in the financial statements are categorised within thefair value hierarchy, described as follows, based on the lowestlevel input that is significant to the fair value measurement as awhole:\u25cf Level 1 - Quoted (unadjusted) market prices in activemarkets for identical assets or liabilities\u25cf Level 2 - Valuation techniques for which the lowestlevel input that is significant to the fair valuemeasurement is directly or indirectly observable\u25cf Level 3 - Valuation techniques for which the lowestlevel input that is significant to the fair valuemeasurement is unobservableFor the purpose of fair value disclosures, the Group hasdetermined classes of assets and liabilities on the basis of thenature, characteristics and risks of the asset or liability and thelevel of the fair value hierarchy, as explained above.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__54": { "value": "DividendsDividends are recognised when the Group\u2019s right to receive thepayment is established, which is generally when shareholdersapprove the dividend. Dividends to the Company'sshareholders are classified as a liability when the dividendsproposed have been approved by the Annual General Meeting.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__57": { "value": "Share-based paymentsEmployees, including senior executives of the Group, receiveremuneration in the form of share-based payments, wherebyemployees render services as consideration for equityinstruments (equity-settled transactions). Group employees inthe Norwegian entities have been granted shares at discountedprices, within the limit for such grants according to Norwegiantax legislation (equity-settled transactions).Equity-settled transactions\ue7eb\ue7ebThe cost of equity-settled transactions is determined by thefair value at the date when the grant is made using anappropriate valuation model. The cost is recognised inemployee benefits expense, together with a correspondingincrease in equity, over the period in which the service and theperformance conditions are fulfilled (the vesting period).\ue7eb Thecumulative expense recognised for equity-settled transactionsat each reporting date until the vesting date re\ufb02ects the extentto which the vesting period has expired and the Group's bestestimate of the number of equity instruments that willultimately vest. The expense or credit in the statement of profitor loss for a period represents the movement in cumulativeexpense recognised as at the beginning and end of that period.The dilutive effect of outstanding options is re\ufb02ected asadditional share dilution in the computation of diluted earningsper share.The discounts granted to employees in the Norwegian entitiesare recognised as a cost in salaries and personnel cost in theprofit and loss statement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__58": { "value": "Cash \ufb02ow statementThe cash \ufb02ow statement shows the Group\u2019s cash \ufb02ow for theyear divided into operating, investing and financing activitiesduring the year, as well as the year\u2019s changes in cash and cashequivalents and the Group\u2019s cash and cash equivalents at thebeginning and end of the year.Cash \ufb02ow from operating activitiesCash \ufb02ow from operating activities is presented using theindirect presentation form and is stated as the year\u2019sprofit/loss before tax plus depreciation and impairment lossesand with adjustments for changes in working capital and paidcorporate tax.Cash \ufb02ow from investing activitiesCash \ufb02ow from investing activities includes payments inconnection with the purchase and sale of non-current assets.Cash \ufb02ow from financing activitiesCash \ufb02ow from financing activities includes changes in volumeafter the pooling of the Company\u2019s share capital and relatedcosts as well as raising of loans, repayments oninterest-bearing debt, and payment of dividends to owners.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__60": { "value": "Note 3 Estimates, judgments and assumptionsSignificant accounting judgement, estimates andassumptionsThe preparation of the Group\u2019s consolidated financialstatements requires management to make judgements,estimates and assumptions that affect the reported amountsof revenues, expenses, assets and liabilities, and theaccompanying disclosures, and the disclosure of contingentliabilities. Uncertainty about these assumptions and estimatescould result in outcomes that require a material adjustment tothe carrying amount of assets or liabilities affected in futureperiods.The key assumptions concerning the future and other keysources of estimation uncertainty at the reporting date, thathave a significant risk of causing a material adjustment to thecarrying amounts of assets and liabilities within the nextfinancial year, are described below.The Group based its assumptions and estimates onparameters available when the consolidated financialstatements were prepared. Existing circumstances andassumptions about future developments, however, may changedue to market changes or circumstances arising that arebeyond the control of the Group. Such changes are re\ufb02ected inthe assumptions when they occur.JudgementsIn the process of applying the Group\u2019s accounting policies,management has made the following judgements, which havethe most significant effect on the amounts recognised in theconsolidated financial statements:Estimates and assumptionsThe key assumptions concerning the future and other keysources of estimation uncertainty at the reporting date, thathave a significant risk of causing a material adjustment to thecarrying amounts of assets and liabilities within the nextfinancial year, are described below. The Group based itsassumptions and estimates on parameters available when theconsolidated financial statements were prepared. Existingcircumstances and assumptions about future developments,however, may change due to market changes or circumstancesarising that are beyond the control of the Group. Such changesare re\ufb02ected in the assumptions when they occur.Impairment of non-financial assetsImpairment exists when the carrying value of an asset orcash generating unit exceeds its recoverable amount, whichis the higher of its fair value less costs of disposal and itsvalue in use.The fair value less costs of disposal calculation is based onavailable data from binding sales transactions, conducted atarm\u2019s length, for similar assets or observable market pricesless incremental costs of disposing of the asset. The value inuse calculation is based on a DCF model. The cash \ufb02ows arederived from the strategic plans for the next five years anddo not include restructuring activities that the Group is notyet committed to or significant future investments that willenhance the performance of the assets of the CGU beingtested. The recoverable amount is sensitive to the discountrate used for the DCF model as well as the expected futurecash-in\ufb02ows and the growth rate used for extrapolationpurposes. These estimates are most relevant to goodwill andother intangibles with indefinite useful lives recognised bythe Group.The key assumptions used to determine the recoverableamount for the different CGUs are disclosed and furtherexplained in the notes.", "dimensions": { "concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__74": { "value": "Note 4 Financial risks and financial instrumentsThe Group\u2019s principal financial liabilities comprise loans and borrowings and trade and other payables. The main purpose of thesefinancial liabilities is to finance the Group\u2019s operations.The Group\u2019s principal financial assets include trade and other receivables, and cash and short-term deposits that derive directlyfrom its operations.The Group is exposed to market risk, credit risk, and liquidity risk. The Group\u2019s Executive Directors oversee the management ofthese risks. A description of the different risks is given below.Market riskThe Group has a good order backlog and list of sales prospects, with competencies that are highly attractive in the market. Theoutlook is robust for the market for IT consultancy services. The Group acknowledge that there is a risk that macroeconomicfactors can cause a downturn in the economy and reduced demand for the Group's services. The condemnable invasion of Ukraineand the sanctions against Russia incorporated in Norwegian Law in March 2022, have not and are not expected to have a directimpact on Webstep\u2019s business activities. The consequences of the acts of war are uncertain, and Webstep is following thedevelopments closely to detect any direct or indirect consequences that may follow.In addition, market risk comprises interest rate risk, foreign currency risk and market price risk which are treated separately below.Market risk - interest rate riskThe short-term revolving credit facility is exposed to interest rate risk because of \ufb02oating interest rate conditions which makesthe Group's financial cost exposed to changes in the market rate. The Group considers this risk to be minimal due to the stablefinancial situation in Norway, combined with low level of debt and strong financial position for the Group. The Group has nolong-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has limited interest rate risk, and variation in interest expenses due to changes in Niborwould have insignificant impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout.Market risk - currency riskForeign currency risk is the risk that the fair value of future cash \ufb02ows of an exposure will \ufb02uctuate because of changes inforeign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to the Group\u2019soperating activities in Sweden (when revenue or expense is denominated in a foreign currency) and the Group\u2019s net investmentin the Swedish subsidiary.The Group has not assessed it as necessary to enter into hedging of these risks due to materiality of the exposure.The following tables demonstrate the sensitivity to a reasonably possible change in SEK exchange rates as assessed by chiefoperating decision maker, with all other variables held constant. The impact on the Group\u2019s profit before tax is due to changesin applied rate for translation of the profit in the Swedish subsidiary, while the change in pre-tax equity is due to change in thefair value of monetary assets, intangible assets, receivables and all liabilities including current and non-current leasingliabilities and all current payables, including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreigncurrency changes for all other currencies is not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202210 %6168,982(10 %)(616)(8,982)202110 %3408,580(10 %)(340)(8,580)Market risk - market price riskConsistent deliveries over time in the different market segments according to established group policies have secured alow-volatility price structure that has proven stable over time. The variable salary model for the majority of the consultants alsoreduces market risk exposure as the salary expenses to a large extent correlate with revenues.Credit riskCredit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or fail to pay amounts duecausing financial loss to the Group. The Group\u2019s exposure to credit risk is mainly related to its outstanding trade debtors (seeNote 14). Other counterparty credit risk exposure to the Group is related to its cash deposits with financial institutions. Thetable below provides an overview of financial assets exposed to credit risk at year-end 2022 and 2021. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20222021Trade and other receivables154,871144,200Cash and cash equivalents62,34046,690Total217,211190,889Climate riskBehavioural change for both the Group\u2019s customers and investors due to climate change can be a risk to the business model.Climate change can have a direct impact on the Group\u2019s customers operating in sectors most exposed to physical climate changeincluding conventional energy, heavy industry and manufacturing, transport and construction, which will further impact Webstep.Failure to comply with regulatory requirements or to meet market expectations can lead to both financial and reputational loss.The Group monitors risks related to climate change in the overall risk assessment of the Company and takes necessary action ifneeded.Trade receivablesThe Group\u2019s exposure to credit risk is in\ufb02uenced mainly by the individual characteristics of each customer. The Group engageswith large and regular customers and has had low historical losses on receivables. In response to the COVID-19 pandemic, theGroup was monitoring the economic environment and took actions to limit its exposure to customers that were severelyimpacted. In accordance with IFRS 9, receivables are recognised and carried at their anticipated realisable value, which impliesthat a provision for a loss allowance on lifetime expected credit losses of the receivable is recognised. A provision for lossallowance for expected credit losses is performed at each statutory reporting date and is based on a multifactor and holisticanalysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2022Trade debtors (note 14)99,95742,2021,1743,395146,730Expected credit loss rate (per cent)0.67%Expected credit loss (NOK 000's)988As of December 31 2021Trade debtors (note 14)93,72036,2713,009749133,749Expected credit loss rate (per cent)0.74%Expected credit loss (NOK 000's)988Cash depositsCredit risk from balances with financial institutions is managed by the Group\u2019s treasury function. The Group limits itscounterparty credit risk by maintaining its cash deposits with financial institutions with high credit ratings as displayed below.Financial institutionCountryRaterReport dateRating (LT)Sparebank 1 SR-bank ASANorwayMoody's30.09.2022A1SEB AB (publ)SwedenMoody's22.12.2022Aa2Liquidity riskLiquidity risk arising from the Group not being able to meet its financial obligations as they fall due, is considered low. TheGroup\u2019s approach to manage liquidity risk is through proper liquidity planning to ensure, as far as possible, that it will alwayshave su\ufb03cient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurringunacceptable losses or risking damage to the Group\u2019s reputation. Executive management has monitoring controls in place toensure that the Group has su\ufb03cient liquidity.2022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)66,08675,81915,69749,37010,752Trade and other payables15,21515,21515,21500Tax payable (note 10)11,87911,87911,87900Social Taxes and VAT81,52481,52481,52400Other short-term debt109,411109,411109,41100Total 31 December 2022284,115293,848233,72649,37010,7522021Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease liabilities (note 24)61,53672,42214,46444,59313,365Trade and other payables15,74515,74515,74500Tax payable (note 10)14,59914,59914,59900Social Taxes and VAT72,11472,11472,11400Other short-term debt89,81489,81489,81400Total 31 December 2021253,808264,694206,73644,59313,365Categories of financial instrumentsNOK'00020222021Trade receivables145,742132,761Other receivables9,12911,439Cash and short-term deposits62,34046,690Financial assets measured at amortised cost217,211190,889Debt to credit instututions00Trade payables15,21515,745Other payables81,52472,114Other short-term debt109,41189,814Financial liabilities measured at amortised cost206,150177,673The methods and assumptions used to estimate the fair value of debt instruments are described in note 2.Carrying amount is based on amortised cost and is assessed as a reasonable approximation of fair value, and has beenapplied accordingly", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__73": { "value": "Note 4 Financial risks and financial instrumentsThe Group\u2019s principal financial liabilities comprise loans and borrowings and trade and other payables. The main purpose of thesefinancial liabilities is to finance the Group\u2019s operations.The Group\u2019s principal financial assets include trade and other receivables, and cash and short-term deposits that derive directlyfrom its operations.The Group is exposed to market risk, credit risk, and liquidity risk. The Group\u2019s Executive Directors oversee the management ofthese risks. A description of the different risks is given below.Market riskThe Group has a good order backlog and list of sales prospects, with competencies that are highly attractive in the market. Theoutlook is robust for the market for IT consultancy services. The Group acknowledge that there is a risk that macroeconomicfactors can cause a downturn in the economy and reduced demand for the Group's services. The condemnable invasion of Ukraineand the sanctions against Russia incorporated in Norwegian Law in March 2022, have not and are not expected to have a directimpact on Webstep\u2019s business activities. The consequences of the acts of war are uncertain, and Webstep is following thedevelopments closely to detect any direct or indirect consequences that may follow.In addition, market risk comprises interest rate risk, foreign currency risk and market price risk which are treated separately below.Market risk - interest rate riskThe short-term revolving credit facility is exposed to interest rate risk because of \ufb02oating interest rate conditions which makesthe Group's financial cost exposed to changes in the market rate. The Group considers this risk to be minimal due to the stablefinancial situation in Norway, combined with low level of debt and strong financial position for the Group. The Group has nolong-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has limited interest rate risk, and variation in interest expenses due to changes in Niborwould have insignificant impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout.Market risk - currency riskForeign currency risk is the risk that the fair value of future cash \ufb02ows of an exposure will \ufb02uctuate because of changes inforeign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to the Group\u2019soperating activities in Sweden (when revenue or expense is denominated in a foreign currency) and the Group\u2019s net investmentin the Swedish subsidiary.The Group has not assessed it as necessary to enter into hedging of these risks due to materiality of the exposure.The following tables demonstrate the sensitivity to a reasonably possible change in SEK exchange rates as assessed by chiefoperating decision maker, with all other variables held constant. The impact on the Group\u2019s profit before tax is due to changesin applied rate for translation of the profit in the Swedish subsidiary, while the change in pre-tax equity is due to change in thefair value of monetary assets, intangible assets, receivables and all liabilities including current and non-current leasingliabilities and all current payables, including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreigncurrency changes for all other currencies is not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202210 %6168,982(10 %)(616)(8,982)202110 %3408,580(10 %)(340)(8,580)Market risk - market price riskConsistent deliveries over time in the different market segments according to established group policies have secured alow-volatility price structure that has proven stable over time. The variable salary model for the majority of the consultants alsoreduces market risk exposure as the salary expenses to a large extent correlate with revenues.Credit riskCredit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or fail to pay amounts duecausing financial loss to the Group. The Group\u2019s exposure to credit risk is mainly related to its outstanding trade debtors (seeNote 14). Other counterparty credit risk exposure to the Group is related to its cash deposits with financial institutions. Thetable below provides an overview of financial assets exposed to credit risk at year-end 2022 and 2021. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20222021Trade and other receivables154,871144,200Cash and cash equivalents62,34046,690Total217,211190,889Climate riskBehavioural change for both the Group\u2019s customers and investors due to climate change can be a risk to the business model.Climate change can have a direct impact on the Group\u2019s customers operating in sectors most exposed to physical climate changeincluding conventional energy, heavy industry and manufacturing, transport and construction, which will further impact Webstep.Failure to comply with regulatory requirements or to meet market expectations can lead to both financial and reputational loss.The Group monitors risks related to climate change in the overall risk assessment of the Company and takes necessary action ifneeded.Trade receivablesThe Group\u2019s exposure to credit risk is in\ufb02uenced mainly by the individual characteristics of each customer. The Group engageswith large and regular customers and has had low historical losses on receivables. In response to the COVID-19 pandemic, theGroup was monitoring the economic environment and took actions to limit its exposure to customers that were severelyimpacted. In accordance with IFRS 9, receivables are recognised and carried at their anticipated realisable value, which impliesthat a provision for a loss allowance on lifetime expected credit losses of the receivable is recognised. A provision for lossallowance for expected credit losses is performed at each statutory reporting date and is based on a multifactor and holisticanalysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2022Trade debtors (note 14)99,95742,2021,1743,395146,730Expected credit loss rate (per cent)0.67%Expected credit loss (NOK 000's)988As of December 31 2021Trade debtors (note 14)93,72036,2713,009749133,749Expected credit loss rate (per cent)0.74%Expected credit loss (NOK 000's)988Cash depositsCredit risk from balances with financial institutions is managed by the Group\u2019s treasury function. The Group limits itscounterparty credit risk by maintaining its cash deposits with financial institutions with high credit ratings as displayed below.Financial institutionCountryRaterReport dateRating (LT)Sparebank 1 SR-bank ASANorwayMoody's30.09.2022A1SEB AB (publ)SwedenMoody's22.12.2022Aa2Liquidity riskLiquidity risk arising from the Group not being able to meet its financial obligations as they fall due, is considered low. TheGroup\u2019s approach to manage liquidity risk is through proper liquidity planning to ensure, as far as possible, that it will alwayshave su\ufb03cient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurringunacceptable losses or risking damage to the Group\u2019s reputation. Executive management has monitoring controls in place toensure that the Group has su\ufb03cient liquidity.2022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)66,08675,81915,69749,37010,752Trade and other payables15,21515,21515,21500Tax payable (note 10)11,87911,87911,87900Social Taxes and VAT81,52481,52481,52400Other short-term debt109,411109,411109,41100Total 31 December 2022284,115293,848233,72649,37010,7522021Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease liabilities (note 24)61,53672,42214,46444,59313,365Trade and other payables15,74515,74515,74500Tax payable (note 10)14,59914,59914,59900Social Taxes and VAT72,11472,11472,11400Other short-term debt89,81489,81489,81400Total 31 December 2021253,808264,694206,73644,59313,365Categories of financial instrumentsNOK'00020222021Trade receivables145,742132,761Other receivables9,12911,439Cash and short-term deposits62,34046,690Financial assets measured at amortised cost217,211190,889Debt to credit instututions00Trade payables15,21515,745Other payables81,52472,114Other short-term debt109,41189,814Financial liabilities measured at amortised cost206,150177,673The methods and assumptions used to estimate the fair value of debt instruments are described in note 2.Carrying amount is based on amortised cost and is assessed as a reasonable approximation of fair value, and has beenapplied accordingly", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__63": { "value": "Note 4 Financial risks and financial instrumentsThe Group\u2019s principal financial liabilities comprise loans and borrowings and trade and other payables. The main purpose of thesefinancial liabilities is to finance the Group\u2019s operations.The Group\u2019s principal financial assets include trade and other receivables, and cash and short-term deposits that derive directlyfrom its operations.The Group is exposed to market risk, credit risk, and liquidity risk. The Group\u2019s Executive Directors oversee the management ofthese risks. A description of the different risks is given below.Market riskThe Group has a good order backlog and list of sales prospects, with competencies that are highly attractive in the market. Theoutlook is robust for the market for IT consultancy services. The Group acknowledge that there is a risk that macroeconomicfactors can cause a downturn in the economy and reduced demand for the Group's services. The condemnable invasion of Ukraineand the sanctions against Russia incorporated in Norwegian Law in March 2022, have not and are not expected to have a directimpact on Webstep\u2019s business activities. The consequences of the acts of war are uncertain, and Webstep is following thedevelopments closely to detect any direct or indirect consequences that may follow.In addition, market risk comprises interest rate risk, foreign currency risk and market price risk which are treated separately below.Market risk - interest rate riskThe short-term revolving credit facility is exposed to interest rate risk because of \ufb02oating interest rate conditions which makesthe Group's financial cost exposed to changes in the market rate. The Group considers this risk to be minimal due to the stablefinancial situation in Norway, combined with low level of debt and strong financial position for the Group. The Group has nolong-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has limited interest rate risk, and variation in interest expenses due to changes in Niborwould have insignificant impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout.Market risk - currency riskForeign currency risk is the risk that the fair value of future cash \ufb02ows of an exposure will \ufb02uctuate because of changes inforeign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to the Group\u2019soperating activities in Sweden (when revenue or expense is denominated in a foreign currency) and the Group\u2019s net investmentin the Swedish subsidiary.The Group has not assessed it as necessary to enter into hedging of these risks due to materiality of the exposure.The following tables demonstrate the sensitivity to a reasonably possible change in SEK exchange rates as assessed by chiefoperating decision maker, with all other variables held constant. The impact on the Group\u2019s profit before tax is due to changesin applied rate for translation of the profit in the Swedish subsidiary, while the change in pre-tax equity is due to change in thefair value of monetary assets, intangible assets, receivables and all liabilities including current and non-current leasingliabilities and all current payables, including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreigncurrency changes for all other currencies is not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202210 %6168,982(10 %)(616)(8,982)202110 %3408,580(10 %)(340)(8,580)Market risk - market price riskConsistent deliveries over time in the different market segments according to established group policies have secured alow-volatility price structure that has proven stable over time. The variable salary model for the majority of the consultants alsoreduces market risk exposure as the salary expenses to a large extent correlate with revenues.Credit riskCredit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or fail to pay amounts duecausing financial loss to the Group. The Group\u2019s exposure to credit risk is mainly related to its outstanding trade debtors (seeNote 14). Other counterparty credit risk exposure to the Group is related to its cash deposits with financial institutions. Thetable below provides an overview of financial assets exposed to credit risk at year-end 2022 and 2021. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20222021Trade and other receivables154,871144,200Cash and cash equivalents62,34046,690Total217,211190,889Climate riskBehavioural change for both the Group\u2019s customers and investors due to climate change can be a risk to the business model.Climate change can have a direct impact on the Group\u2019s customers operating in sectors most exposed to physical climate changeincluding conventional energy, heavy industry and manufacturing, transport and construction, which will further impact Webstep.Failure to comply with regulatory requirements or to meet market expectations can lead to both financial and reputational loss.The Group monitors risks related to climate change in the overall risk assessment of the Company and takes necessary action ifneeded.Trade receivablesThe Group\u2019s exposure to credit risk is in\ufb02uenced mainly by the individual characteristics of each customer. The Group engageswith large and regular customers and has had low historical losses on receivables. In response to the COVID-19 pandemic, theGroup was monitoring the economic environment and took actions to limit its exposure to customers that were severelyimpacted. In accordance with IFRS 9, receivables are recognised and carried at their anticipated realisable value, which impliesthat a provision for a loss allowance on lifetime expected credit losses of the receivable is recognised. A provision for lossallowance for expected credit losses is performed at each statutory reporting date and is based on a multifactor and holisticanalysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2022Trade debtors (note 14)99,95742,2021,1743,395146,730Expected credit loss rate (per cent)0.67%Expected credit loss (NOK 000's)988As of December 31 2021Trade debtors (note 14)93,72036,2713,009749133,749Expected credit loss rate (per cent)0.74%Expected credit loss (NOK 000's)988Cash depositsCredit risk from balances with financial institutions is managed by the Group\u2019s treasury function. The Group limits itscounterparty credit risk by maintaining its cash deposits with financial institutions with high credit ratings as displayed below.Financial institutionCountryRaterReport dateRating (LT)Sparebank 1 SR-bank ASANorwayMoody's30.09.2022A1SEB AB (publ)SwedenMoody's22.12.2022Aa2Liquidity riskLiquidity risk arising from the Group not being able to meet its financial obligations as they fall due, is considered low. TheGroup\u2019s approach to manage liquidity risk is through proper liquidity planning to ensure, as far as possible, that it will alwayshave su\ufb03cient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurringunacceptable losses or risking damage to the Group\u2019s reputation. Executive management has monitoring controls in place toensure that the Group has su\ufb03cient liquidity.2022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)66,08675,81915,69749,37010,752Trade and other payables15,21515,21515,21500Tax payable (note 10)11,87911,87911,87900Social Taxes and VAT81,52481,52481,52400Other short-term debt109,411109,411109,41100Total 31 December 2022284,115293,848233,72649,37010,7522021Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease liabilities (note 24)61,53672,42214,46444,59313,365Trade and other payables15,74515,74515,74500Tax payable (note 10)14,59914,59914,59900Social Taxes and VAT72,11472,11472,11400Other short-term debt89,81489,81489,81400Total 31 December 2021253,808264,694206,73644,59313,365Categories of financial instrumentsNOK'00020222021Trade receivables145,742132,761Other receivables9,12911,439Cash and short-term deposits62,34046,690Financial assets measured at amortised cost217,211190,889Debt to credit instututions00Trade payables15,21515,745Other payables81,52472,114Other short-term debt109,41189,814Financial liabilities measured at amortised cost206,150177,673The methods and assumptions used to estimate the fair value of debt instruments are described in note 2.Carrying amount is based on amortised cost and is assessed as a reasonable approximation of fair value, and has beenapplied accordingly", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__64": { "value": "Market riskThe Group has a good order backlog and list of sales prospects, with competencies that are highly attractive in the market. Theoutlook is robust for the market for IT consultancy services. The Group acknowledge that there is a risk that macroeconomicfactors can cause a downturn in the economy and reduced demand for the Group's services. The condemnable invasion of Ukraineand the sanctions against Russia incorporated in Norwegian Law in March 2022, have not and are not expected to have a directimpact on Webstep\u2019s business activities. The consequences of the acts of war are uncertain, and Webstep is following thedevelopments closely to detect any direct or indirect consequences that may follow.In addition, market risk comprises interest rate risk, foreign currency risk and market price risk which are treated separately below.Market risk - interest rate riskThe short-term revolving credit facility is exposed to interest rate risk because of \ufb02oating interest rate conditions which makesthe Group's financial cost exposed to changes in the market rate. The Group considers this risk to be minimal due to the stablefinancial situation in Norway, combined with low level of debt and strong financial position for the Group. The Group has nolong-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has limited interest rate risk, and variation in interest expenses due to changes in Niborwould have insignificant impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout.Market risk - currency riskForeign currency risk is the risk that the fair value of future cash \ufb02ows of an exposure will \ufb02uctuate because of changes inforeign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to the Group\u2019soperating activities in Sweden (when revenue or expense is denominated in a foreign currency) and the Group\u2019s net investmentin the Swedish subsidiary.The Group has not assessed it as necessary to enter into hedging of these risks due to materiality of the exposure.The following tables demonstrate the sensitivity to a reasonably possible change in SEK exchange rates as assessed by chiefoperating decision maker, with all other variables held constant. The impact on the Group\u2019s profit before tax is due to changesin applied rate for translation of the profit in the Swedish subsidiary, while the change in pre-tax equity is due to change in thefair value of monetary assets, intangible assets, receivables and all liabilities including current and non-current leasingliabilities and all current payables, including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreigncurrency changes for all other currencies is not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202210 %6168,982(10 %)(616)(8,982)202110 %3408,580(10 %)(340)(8,580)Market risk - market price riskConsistent deliveries over time in the different market segments according to established group policies have secured alow-volatility price structure that has proven stable over time. The variable salary model for the majority of the consultants alsoreduces market risk exposure as the salary expenses to a large extent correlate with revenues.", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__65": { "value": "Market risk - interest rate riskThe short-term revolving credit facility is exposed to interest rate risk because of \ufb02oating interest rate conditions which makesthe Group's financial cost exposed to changes in the market rate. The Group considers this risk to be minimal due to the stablefinancial situation in Norway, combined with low level of debt and strong financial position for the Group. The Group has nolong-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has limited interest rate risk, and variation in interest expenses due to changes in Niborwould have insignificant impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout.Market risk - currency riskForeign currency risk is the risk that the fair value of future cash \ufb02ows of an exposure will \ufb02uctuate because of changes inforeign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to the Group\u2019soperating activities in Sweden (when revenue or expense is denominated in a foreign currency) and the Group\u2019s net investmentin the Swedish subsidiary.The Group has not assessed it as necessary to enter into hedging of these risks due to materiality of the exposure.The following tables demonstrate the sensitivity to a reasonably possible change in SEK exchange rates as assessed by chiefoperating decision maker, with all other variables held constant. The impact on the Group\u2019s profit before tax is due to changesin applied rate for translation of the profit in the Swedish subsidiary, while the change in pre-tax equity is due to change in thefair value of monetary assets, intangible assets, receivables and all liabilities including current and non-current leasingliabilities and all current payables, including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreigncurrency changes for all other currencies is not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202210 %6168,982(10 %)(616)(8,982)202110 %3408,580(10 %)(340)(8,580)Market risk - market price riskConsistent deliveries over time in the different market segments according to established group policies have secured alow-volatility price structure that has proven stable over time. The variable salary model for the majority of the consultants alsoreduces market risk exposure as the salary expenses to a large extent correlate with revenues.", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__68-1": { "value": "Credit riskCredit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or fail to pay amounts duecausing financial loss to the Group. The Group\u2019s exposure to credit risk is mainly related to its outstanding trade debtors (seeNote 14). Other counterparty credit risk exposure to the Group is related to its cash deposits with financial institutions. Thetable below provides an overview of financial assets exposed to credit risk at year-end 2022 and 2021. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20222021Trade and other receivables154,871144,200Cash and cash equivalents62,34046,690Total217,211190,889Climate riskBehavioural change for both the Group\u2019s customers and investors due to climate change can be a risk to the business model.Climate change can have a direct impact on the Group\u2019s customers operating in sectors most exposed to physical climate changeincluding conventional energy, heavy industry and manufacturing, transport and construction, which will further impact Webstep.Failure to comply with regulatory requirements or to meet market expectations can lead to both financial and reputational loss.The Group monitors risks related to climate change in the overall risk assessment of the Company and takes necessary action ifneeded.Trade receivablesThe Group\u2019s exposure to credit risk is in\ufb02uenced mainly by the individual characteristics of each customer. The Group engageswith large and regular customers and has had low historical losses on receivables. In response to the COVID-19 pandemic, theGroup was monitoring the economic environment and took actions to limit its exposure to customers that were severelyimpacted. In accordance with IFRS 9, receivables are recognised and carried at their anticipated realisable value, which impliesthat a provision for a loss allowance on lifetime expected credit losses of the receivable is recognised. A provision for lossallowance for expected credit losses is performed at each statutory reporting date and is based on a multifactor and holisticanalysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2022Trade debtors (note 14)99,95742,2021,1743,395146,730Expected credit loss rate (per cent)0.67%Expected credit loss (NOK 000's)988As of December 31 2021Trade debtors (note 14)93,72036,2713,009749133,749Expected credit loss rate (per cent)0.74%Expected credit loss (NOK 000's)988Cash depositsCredit risk from balances with financial institutions is managed by the Group\u2019s treasury function. The Group limits itscounterparty credit risk by maintaining its cash deposits with financial institutions with high credit ratings as displayed below.Financial institutionCountryRaterReport dateRating (LT)Sparebank 1 SR-bank ASANorwayMoody's30.09.2022A1SEB AB (publ)SwedenMoody's22.12.2022Aa2Liquidity riskLiquidity risk arising from the Group not being able to meet its financial obligations as they fall due, is considered low. TheGroup\u2019s approach to manage liquidity risk is through proper liquidity planning to ensure, as far as possible, that it will alwayshave su\ufb03cient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurringunacceptable losses or risking damage to the Group\u2019s reputation. Executive management has monitoring controls in place toensure that the Group has su\ufb03cient liquidity.2022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)66,08675,81915,69749,37010,752Trade and other payables15,21515,21515,21500Tax payable (note 10)11,87911,87911,87900Social Taxes and VAT81,52481,52481,52400Other short-term debt109,411109,411109,41100Total 31 December 2022284,115293,848233,72649,37010,7522021Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease liabilities (note 24)61,53672,42214,46444,59313,365Trade and other payables15,74515,74515,74500Tax payable (note 10)14,59914,59914,59900Social Taxes and VAT72,11472,11472,11400Other short-term debt89,81489,81489,81400Total 31 December 2021253,808264,694206,73644,59313,365Categories of financial instrumentsNOK'00020222021Trade receivables145,742132,761Other receivables9,12911,439Cash and short-term deposits62,34046,690Financial assets measured at amortised cost217,211190,889Debt to credit instututions00Trade payables15,21515,745Other payables81,52472,114Other short-term debt109,41189,814Financial liabilities measured at amortised cost206,150177,673The methods and assumptions used to estimate the fair value of debt instruments are described in note 2.Carrying amount is based on amortised cost and is assessed as a reasonable approximation of fair value, and has beenapplied accordinglyNote 15 Cash and short-term depositsCash and Cash Equivalents,NOK'00020222021Cash in bank62,34046,690Cash equivalents00Total Cash and Cash Equivalents62,34046,690Utilised bank overdraft00Net Cash and Cash Equivalents/Bank overdraft62,34046,690Of which Restricted Cash:Guarantees for leases and credits from suppliers1,1161,149Taxes withheld581744Other restricted cash00Total Restricted Cash1,6971,893For further details on the Group's cash reporting and cashpooling system, see note 17.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__67": { "value": "Credit riskCredit risk is the risk that a customer or counterparty to a financial instrument will fail to perform or fail to pay amounts duecausing financial loss to the Group. The Group\u2019s exposure to credit risk is mainly related to its outstanding trade debtors (seeNote 14). Other counterparty credit risk exposure to the Group is related to its cash deposits with financial institutions. Thetable below provides an overview of financial assets exposed to credit risk at year-end 2022 and 2021. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20222021Trade and other receivables154,871144,200Cash and cash equivalents62,34046,690Total217,211190,889Climate riskBehavioural change for both the Group\u2019s customers and investors due to climate change can be a risk to the business model.Climate change can have a direct impact on the Group\u2019s customers operating in sectors most exposed to physical climate changeincluding conventional energy, heavy industry and manufacturing, transport and construction, which will further impact Webstep.Failure to comply with regulatory requirements or to meet market expectations can lead to both financial and reputational loss.The Group monitors risks related to climate change in the overall risk assessment of the Company and takes necessary action ifneeded.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__70": { "value": "Trade receivablesThe Group\u2019s exposure to credit risk is in\ufb02uenced mainly by the individual characteristics of each customer. The Group engageswith large and regular customers and has had low historical losses on receivables. In response to the COVID-19 pandemic, theGroup was monitoring the economic environment and took actions to limit its exposure to customers that were severelyimpacted. In accordance with IFRS 9, receivables are recognised and carried at their anticipated realisable value, which impliesthat a provision for a loss allowance on lifetime expected credit losses of the receivable is recognised. A provision for lossallowance for expected credit losses is performed at each statutory reporting date and is based on a multifactor and holisticanalysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2022Trade debtors (note 14)99,95742,2021,1743,395146,730Expected credit loss rate (per cent)0.67%Expected credit loss (NOK 000's)988As of December 31 2021Trade debtors (note 14)93,72036,2713,009749133,749Expected credit loss rate (per cent)0.74%Expected credit loss (NOK 000's)988", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__69-1": { "value": "Trade receivablesThe Group\u2019s exposure to credit risk is in\ufb02uenced mainly by the individual characteristics of each customer. The Group engageswith large and regular customers and has had low historical losses on receivables. In response to the COVID-19 pandemic, theGroup was monitoring the economic environment and took actions to limit its exposure to customers that were severelyimpacted. In accordance with IFRS 9, receivables are recognised and carried at their anticipated realisable value, which impliesthat a provision for a loss allowance on lifetime expected credit losses of the receivable is recognised. A provision for lossallowance for expected credit losses is performed at each statutory reporting date and is based on a multifactor and holisticanalysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2022Trade debtors (note 14)99,95742,2021,1743,395146,730Expected credit loss rate (per cent)0.67%Expected credit loss (NOK 000's)988As of December 31 2021Trade debtors (note 14)93,72036,2713,009749133,749Expected credit loss rate (per cent)0.74%Expected credit loss (NOK 000's)988Note 14 Trade and other receivablesTrade and other receivablesNOK'00020222021Trade receivables - net of related parties146,730133,749Provision for bad debt(988)(988)Trade Receivables net of provision145,742132,761Prepayments and other receivables9,12911,439Receivables from related parties00Payables to related parties00Total trade receivables and prepayments154,872144,200Of which long-term receivables from related parties00Short-term Receivables and prepayments154,872144,200Specification of receivablesNOK'00020222021Trade receivables143,550129,315Accrued income2,1923,446Other receivables00Trade and other receivables145,742132,761Prepaid costs8,22210,585Prepaid public duty debt142478Prepaid rent765376Prepayments9,12911,439Total receivables and prepayments154,871144,200Due dates and fair value of trade and other receivablesNOK'00020222021Due within one year*)154,871144,200After one year **)00Fair Value154,871144,200*) For receivables due within one year, fair value is equal to nominal value.**) Receivables that are due later than one year are discounted and stated as fairvalue.Group has a bad debt provision of NOK 988 thousand in 2022 equal to NOK 988thousand in 2021.30-60NOK'000TotalNot due<30 daysdays>60 days2022146,73099,95742,2021,1743,3952021133,74993,72036,2713,009749Trade receivables at year end were NOK 146.7 million (NOK 133,7 million).", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__72": { "value": "Liquidity riskLiquidity risk arising from the Group not being able to meet its financial obligations as they fall due, is considered low. TheGroup\u2019s approach to manage liquidity risk is through proper liquidity planning to ensure, as far as possible, that it will alwayshave su\ufb03cient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurringunacceptable losses or risking damage to the Group\u2019s reputation. Executive management has monitoring controls in place toensure that the Group has su\ufb03cient liquidity.2022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)66,08675,81915,69749,37010,752Trade and other payables15,21515,21515,21500Tax payable (note 10)11,87911,87911,87900Social Taxes and VAT81,52481,52481,52400Other short-term debt109,411109,411109,41100Total 31 December 2022284,115293,848233,72649,37010,7522021Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease liabilities (note 24)61,53672,42214,46444,59313,365Trade and other payables15,74515,74515,74500Tax payable (note 10)14,59914,59914,59900Social Taxes and VAT72,11472,11472,11400Other short-term debt89,81489,81489,81400Total 31 December 2021253,808264,694206,73644,59313,365Categories of financial instrumentsNOK'00020222021Trade receivables145,742132,761Other receivables9,12911,439Cash and short-term deposits62,34046,690Financial assets measured at amortised cost217,211190,889Debt to credit instututions00Trade payables15,21515,745Other payables81,52472,114Other short-term debt109,41189,814Financial liabilities measured at amortised cost206,150177,673The methods and assumptions used to estimate the fair value of debt instruments are described in note 2.Carrying amount is based on amortised cost and is assessed as a reasonable approximation of fair value, and has beenapplied accordingly", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__77-1": { "value": "Note 5 Revenue from contracts with customersIn the following table, the major revenue lines are disaggregated by geographical areas as disclosed in our segment note (note 6).Figures are in local currencies and do not include eliminations except Group.2022 Segments (in 000' )Norway (NOK)Sweden (SEK)Group (NOK)Type of goods or serviceIT-related consulting services721,050110,528823,284Subcontractors42,98422,66664,490Other173519665Total revenue from contracts with customers764,207133,713888,438Timing of revenue recognitionGoods and services transferred at a point in time764,034133,194887,774Services transferred over time150-Total revenue from contracts with customers764,184133,194887,7742021 Segments (in 000' )Norway (NOK)Sweden (SEK)Group (NOK)Type of goods or serviceIT-related consulting services624,84783,155705,690Subcontractors45,76323,02968,821Other271392512Total revenue from contracts with customers670,881106,576775,023Timing of revenue recognitionGoods and services transferred at a point in time670,610106,184774,510Services transferred over time150-Total revenue from contracts with customers670,760106,184774,510Set out below, is the reconciliation of the revenue from contracts with customers with the amounts disclosed inthe segment information (Note 6):20222021Revenue (in 000' NOK)NorwaySwedenNorwaySwedenExternal customer764,034123,740670,610103,900Inter-segment1502,6341502,358Inter-segment adjustments and eliminations(150)(2,634)(150)(2,358)Total revenue from contracts with customers764,034123,740670,610103,900Contract balances:The following table provides information about receivables, contract assets and contract liabilities from contracts withcustomers.NOK 000'12/31/202212/31/2021Receivables which are included in Trade receivables143,550129,315Contract assets2,1923,446Contract liabilities7570The contract assets primarily relate to revenues accrued, but not invoiced. The contract assets are transferred to Tradereceivables when the rights to receive payment become unconditional.The contract liabilities primarily consist of advance considerations received from customers, before revenue is earned. Revenueis recognised as (or when) the Group fulfils its performance obligation(s) under the contracts, and accrued expenses related tosupply of goods and services, not yet recorded in Accounts Payable.Changes in the contract assets and the contract liabilities balances during the period are as follows:Contract assets (NOK 000')20222021At January 13,4466,041Additions2,1923,446Transfers from contract assets recognised at the beginning of the period to receivables(3,446)(6,041)Impairment losses and allowances recognised in the period00At December 312,1923,446Contract liabilities (NOK 000')20222021At January 10838Invoiced in advance for the period7570Revenues recognised that was included in the contract liability balance at the beginning ofthe period0(838)Current contract liabilities at December 317570Note 6 Segment informationNOK 000'sThe Group provides IT related high-end consulting services. Operating segments are reported by country of operation. The ChiefOperating Decision-Maker (CODM), who is responsible for allocating resources and assessing performance of the operatingsegments, has been identified as the steering committee consisting of the CEO and the CFO. The CODM examines the Group'sperformance by country of operation. Segment performance is evaluated based on the profit or loss measure \"Earnings beforeinterest and tax\" (EBIT) and is measured consistently with profit or loss in the consolidated financial statements. Assets andliabilities are not allocated to segments.The Group has currently two reportable segments: Norway and Sweden, and revenue breakdown for Oslo (Norway), RegionalO\ufb03ces (Norway) and Subcontractors (Norway and Sweden).2022NorwaySwedenElimination*TotalRevenues Oslo324,651Revenues Regional O\ufb03ces393,656Revenues Sweden102,747Revenues Subcontractors45,66623,916Other233203Total revenue (IT-related consulting services)764,207126,866(2,784)888,289Total operating expenses less depreciation and impairment716,480119,945(2,784)833,640EBIT47,7276,92254,649EBIT margin (% of total revenue)6.2 %5.5 %6.2 %2021NorwaySwedenElimination*TotalRevenues Oslo280,998Revenues Regional O\ufb03ces343,525Sweden83,489Subcontractors45,76323,058Other595103Total revenue (IT-related consulting services)670,881106,651(2,508)775,023Total operating expenses less depreciation and impairment609,783101,825(2,508)709,100EBIT61,0974,82665,923EBIT margin (% of total revenue)9.1 %4.5 %8.5 %*Elimination consists of hiring of consultants from Sweden to Norway and management fee fromSweden to Norway.Major customersThe Group does not disclose a breakdown per customer, as sales revenues for any customer does not exceed 10% of the totalrevenue in the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__76-1": { "value": "Note 5 Revenue from contracts with customersIn the following table, the major revenue lines are disaggregated by geographical areas as disclosed in our segment note (note 6).Figures are in local currencies and do not include eliminations except Group.2022 Segments (in 000' )Norway (NOK)Sweden (SEK)Group (NOK)Type of goods or serviceIT-related consulting services721,050110,528823,284Subcontractors42,98422,66664,490Other173519665Total revenue from contracts with customers764,207133,713888,438Timing of revenue recognitionGoods and services transferred at a point in time764,034133,194887,774Services transferred over time150-Total revenue from contracts with customers764,184133,194887,7742021 Segments (in 000' )Norway (NOK)Sweden (SEK)Group (NOK)Type of goods or serviceIT-related consulting services624,84783,155705,690Subcontractors45,76323,02968,821Other271392512Total revenue from contracts with customers670,881106,576775,023Timing of revenue recognitionGoods and services transferred at a point in time670,610106,184774,510Services transferred over time150-Total revenue from contracts with customers670,760106,184774,510Set out below, is the reconciliation of the revenue from contracts with customers with the amounts disclosed inthe segment information (Note 6):20222021Revenue (in 000' NOK)NorwaySwedenNorwaySwedenExternal customer764,034123,740670,610103,900Inter-segment1502,6341502,358Inter-segment adjustments and eliminations(150)(2,634)(150)(2,358)Total revenue from contracts with customers764,034123,740670,610103,900Contract balances:The following table provides information about receivables, contract assets and contract liabilities from contracts withcustomers.NOK 000'12/31/202212/31/2021Receivables which are included in Trade receivables143,550129,315Contract assets2,1923,446Contract liabilities7570The contract assets primarily relate to revenues accrued, but not invoiced. The contract assets are transferred to Tradereceivables when the rights to receive payment become unconditional.The contract liabilities primarily consist of advance considerations received from customers, before revenue is earned. Revenueis recognised as (or when) the Group fulfils its performance obligation(s) under the contracts, and accrued expenses related tosupply of goods and services, not yet recorded in Accounts Payable.Changes in the contract assets and the contract liabilities balances during the period are as follows:Contract assets (NOK 000')20222021At January 13,4466,041Additions2,1923,446Transfers from contract assets recognised at the beginning of the period to receivables(3,446)(6,041)Impairment losses and allowances recognised in the period00At December 312,1923,446Contract liabilities (NOK 000')20222021At January 10838Invoiced in advance for the period7570Revenues recognised that was included in the contract liability balance at the beginning ofthe period0(838)Current contract liabilities at December 317570Note 6 Segment informationNOK 000'sThe Group provides IT related high-end consulting services. Operating segments are reported by country of operation. The ChiefOperating Decision-Maker (CODM), who is responsible for allocating resources and assessing performance of the operatingsegments, has been identified as the steering committee consisting of the CEO and the CFO. The CODM examines the Group'sperformance by country of operation. Segment performance is evaluated based on the profit or loss measure \"Earnings beforeinterest and tax\" (EBIT) and is measured consistently with profit or loss in the consolidated financial statements. Assets andliabilities are not allocated to segments.The Group has currently two reportable segments: Norway and Sweden, and revenue breakdown for Oslo (Norway), RegionalO\ufb03ces (Norway) and Subcontractors (Norway and Sweden).2022NorwaySwedenElimination*TotalRevenues Oslo324,651Revenues Regional O\ufb03ces393,656Revenues Sweden102,747Revenues Subcontractors45,66623,916Other233203Total revenue (IT-related consulting services)764,207126,866(2,784)888,289Total operating expenses less depreciation and impairment716,480119,945(2,784)833,640EBIT47,7276,92254,649EBIT margin (% of total revenue)6.2 %5.5 %6.2 %2021NorwaySwedenElimination*TotalRevenues Oslo280,998Revenues Regional O\ufb03ces343,525Sweden83,489Subcontractors45,76323,058Other595103Total revenue (IT-related consulting services)670,881106,651(2,508)775,023Total operating expenses less depreciation and impairment609,783101,825(2,508)709,100EBIT61,0974,82665,923EBIT margin (% of total revenue)9.1 %4.5 %8.5 %*Elimination consists of hiring of consultants from Sweden to Norway and management fee fromSweden to Norway.Major customersThe Group does not disclose a breakdown per customer, as sales revenues for any customer does not exceed 10% of the totalrevenue in the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__75-1": { "value": "Note 5 Revenue from contracts with customersIn the following table, the major revenue lines are disaggregated by geographical areas as disclosed in our segment note (note 6).Figures are in local currencies and do not include eliminations except Group.2022 Segments (in 000' )Norway (NOK)Sweden (SEK)Group (NOK)Type of goods or serviceIT-related consulting services721,050110,528823,284Subcontractors42,98422,66664,490Other173519665Total revenue from contracts with customers764,207133,713888,438Timing of revenue recognitionGoods and services transferred at a point in time764,034133,194887,774Services transferred over time150-Total revenue from contracts with customers764,184133,194887,7742021 Segments (in 000' )Norway (NOK)Sweden (SEK)Group (NOK)Type of goods or serviceIT-related consulting services624,84783,155705,690Subcontractors45,76323,02968,821Other271392512Total revenue from contracts with customers670,881106,576775,023Timing of revenue recognitionGoods and services transferred at a point in time670,610106,184774,510Services transferred over time150-Total revenue from contracts with customers670,760106,184774,510Set out below, is the reconciliation of the revenue from contracts with customers with the amounts disclosed inthe segment information (Note 6):20222021Revenue (in 000' NOK)NorwaySwedenNorwaySwedenExternal customer764,034123,740670,610103,900Inter-segment1502,6341502,358Inter-segment adjustments and eliminations(150)(2,634)(150)(2,358)Total revenue from contracts with customers764,034123,740670,610103,900Contract balances:The following table provides information about receivables, contract assets and contract liabilities from contracts withcustomers.NOK 000'12/31/202212/31/2021Receivables which are included in Trade receivables143,550129,315Contract assets2,1923,446Contract liabilities7570The contract assets primarily relate to revenues accrued, but not invoiced. The contract assets are transferred to Tradereceivables when the rights to receive payment become unconditional.The contract liabilities primarily consist of advance considerations received from customers, before revenue is earned. Revenueis recognised as (or when) the Group fulfils its performance obligation(s) under the contracts, and accrued expenses related tosupply of goods and services, not yet recorded in Accounts Payable.Changes in the contract assets and the contract liabilities balances during the period are as follows:Contract assets (NOK 000')20222021At January 13,4466,041Additions2,1923,446Transfers from contract assets recognised at the beginning of the period to receivables(3,446)(6,041)Impairment losses and allowances recognised in the period00At December 312,1923,446Contract liabilities (NOK 000')20222021At January 10838Invoiced in advance for the period7570Revenues recognised that was included in the contract liability balance at the beginning ofthe period0(838)Current contract liabilities at December 317570Note 6 Segment informationNOK 000'sThe Group provides IT related high-end consulting services. Operating segments are reported by country of operation. The ChiefOperating Decision-Maker (CODM), who is responsible for allocating resources and assessing performance of the operatingsegments, has been identified as the steering committee consisting of the CEO and the CFO. The CODM examines the Group'sperformance by country of operation. Segment performance is evaluated based on the profit or loss measure \"Earnings beforeinterest and tax\" (EBIT) and is measured consistently with profit or loss in the consolidated financial statements. Assets andliabilities are not allocated to segments.The Group has currently two reportable segments: Norway and Sweden, and revenue breakdown for Oslo (Norway), RegionalO\ufb03ces (Norway) and Subcontractors (Norway and Sweden).2022NorwaySwedenElimination*TotalRevenues Oslo324,651Revenues Regional O\ufb03ces393,656Revenues Sweden102,747Revenues Subcontractors45,66623,916Other233203Total revenue (IT-related consulting services)764,207126,866(2,784)888,289Total operating expenses less depreciation and impairment716,480119,945(2,784)833,640EBIT47,7276,92254,649EBIT margin (% of total revenue)6.2 %5.5 %6.2 %2021NorwaySwedenElimination*TotalRevenues Oslo280,998Revenues Regional O\ufb03ces343,525Sweden83,489Subcontractors45,76323,058Other595103Total revenue (IT-related consulting services)670,881106,651(2,508)775,023Total operating expenses less depreciation and impairment609,783101,825(2,508)709,100EBIT61,0974,82665,923EBIT margin (% of total revenue)9.1 %4.5 %8.5 %*Elimination consists of hiring of consultants from Sweden to Norway and management fee fromSweden to Norway.Major customersThe Group does not disclose a breakdown per customer, as sales revenues for any customer does not exceed 10% of the totalrevenue in the Group.Geographical analysis of assetsAnalysis of non-current assets by geographical locationElimination2022NorwaySweden*TotalRIght-of-use assets49.215.965.1Research and development1.51.5Fixed assets13.90.514.4Total non-current assets operating assets 202264.616.40.081.0Elimination2021NorwaySweden*TotalRIght-of-use assets45.816.862.5Research and development3.03.0Fixed assets10.20.110.4Total non-current assets operating assets 202159.016.90.075.9Asset location20222021Norway64,61259,021Sweden16,39516,910Non-current segment assets81,00775,932Other intangible assets378,554380,546Non-current financial assets20Deferred tax asset2,1931,619Trade receivables145,742132,761Other receivables9,12911,439Cash and short-term deposits62,34046,690Consolidated total assets678,967648,986Non-current assets for this purpose consist of right-of-use assets, research and development and fixed assets.", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__84-1": { "value": "Note 7 Salaries, remuneration and audit feesAudit fees *20222021Statutory audit fees9091,052Audit-related assistance2130Total fee1,1221,052* VAT is not included", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__82-1": { "value": "Note 7 Salaries, remuneration and audit feesNOK 000'sSalaries and personnel expenses (NOK'000)20222021Salaries540,411465,896Social security costs86,45777,726Pensions24,11721,722Share-based compensation3,6062,878Other benefits and refunds32,13715,442Total salaries and personnel expenses686,728583,665Number of employees, average FTEs538478TotalremunerationRemuneration to executive management NOK'000Base salaryVariable payOther*PensionTotal remuneration to executive management 202214,6423,7131,91020,265626Total remuneration to executive management 202115,0002,84048018,320626*Other consists of e.g. health insurance plans, car allowance, telephone/mobile communication, share-options (NOK 1.2million in 2022) and housing allowance.** There have been changes in the executive management since 2021***Due to reduction of executive management effective from 2023 the Company had severance pay of NOK 1.2 million inthe financial year 2022.The table above is exclusive severance pay.Board remunerationCompensation to board members is not performance-related. Compensation to the Board is determined by the Annual GeneralMeeting, and the accrued cost for 2022 and 2021 is based on the decision made by the Annual General Meetings. Thecompensation is paid in arrears.20222021Remuneration to board members and nomination committeeCompensationCompensationChairman of the board - Kjetil Bakke Eriksen (from 28 April 2022)373247Board member - Trond Klethagen Johannessen (Chairman until 27 April 2022)327410Board member - Siw \u00d8degaard276288Board member - Trygve Christian Moe287257Board member - Toril Nag258233Nomination committee - Bj\u00f8rn Ivar Danielsen (board member until 5 May 2021)3019Nomination committee - Petter Tusvik1817Nomination committee - Trude Sleire (until 28 April 2021)6Nomination committee - John Morten Bjerkan (until 28 April 2021)9Total remuneration to board members and nomination committee1,5691,487Determination of remuneration to executive managementThe Company's executive management comprises the Chief Executive O\ufb03cer (CEO), the Chief Financial O\ufb03cer (CFO), DirectorBusiness Development, Regional Managers, Directors Communication and marketing and Group Advisor. Remuneration toexecutive management is mainly fixed salary as well as performance based bonus. CEO and CFOs bonus is decided by theremuneration committee and regional managers bonus is calculated by pre-determined KPIs, in line with the Remuneration Policy.The CEO and the CFO were entitled to bonuses for 2021 which were accrued for in the consolidated statement of comprehensiveincome for 2021 and paid in Q1 2022. The CEO received a bonus of NOK 0.7 million. The CFO received a bonus of NOK 0.15 million.The executive management is entitled to participate in the Long-term incentive programme as described in note 22.Bonuses for 2022 were accrued for in the consolidated statement of comprehensive income for 2022 and paid in Q1 2023. TheCEO was paid a bonus of NOK 0.42 millionThe accrued bonuses are included in the table above.The board of directors has established a remuneration committee. Chairman of the board Kjetil Bakke Eriksen serves as chair of thecommittee. Toril Nag and Trond K. Johannessen serve as members. The remuneration committee functions as an advisory body to theboard of directors, with the purpose of ensuring a thorough and independent preparation of matters regarding remuneration to theCompany's executive management.The main principle for the Company's remuneration policy is that the executive management shall be offered competitive termswhen their total remuneration package is taken into account. Such packages may consist of elements such as base-salary, bonus,share and option schemes, benefits in kind and pension arrangements. The Company shall seek to offer a remuneration level that isconsidered competitive and on market terms, compared to the level offered by its peers, and which seeks to satisfy the Company'sneed to recruit and keep highly qualified personnel in the executive management.The current guidelines have been prepared in accordance with the provisions of section 6-16a of the Norwegian Public LimitedCompanies Act, approved 28 April 2022 at the Annual General Meeting.The base salary paid to the executive management shall constitute the main part of their total remuneration. For executivemanagement also having a performance-based bonus, the base salary constitutes approximately 70-80% of the total remunerationpackage.The executive management is offered contributions in kind such as coverage of phone and phone expenses, private broadband,company health services, insurances, car allowance and coverage of travel expenses.The executive management participates in the Company's defined contribution pension scheme in accordance with mandatory law.The company's CEO receives a fixed car allowance at NOK 15,000 per month.The executive management may be offered performance-based bonuses in addition to their fixed remuneration. Suchperformance-based bonus shall be agreed on an individual basis if applicable. The criteria for any performance-based bonus shallbe determined by the board of directors and shall be linked to measurable factors, such as the achievement of pre-determined KPIs.The Company's CEO and CFO performance-based profit may constitute up to 40% and 35% respectively, and shall be determined bythe board of directors. For department managers the performance-based bonus is linked to the following KPIs- Revenue compared to budget/forecast- Number of employees compared to budget/forecast- Operating revenue compared to budget/forecastThe executive management may be offered Company shares and options to shares as a part of the total remuneration package.The executive management, and other managers as decided by the board of directors, are included in Websteps Long-termincentive program approved at the Annual General Meeting 2019. The program is further described in note 22.The other Group companies shall follow the main principles for remuneration of executives as described herein and guidelines fordetermination of salary and other remuneration to executive personnel in Webstep.Note 8 Pension costsAll companies within the Group have defined contribution plans for all of its employees, governed by the local employment laws.The Group pays a contribution to the plan based on a fixed per centage of the salary, limited to 12 times the base amount (G). Thetotal pension premium charge in 2022 is NOK 24,1 million (2021: NOK 21,7 million).The Norwegian companies within the Group are bound to have mandatory occupational pension scheme pursuant to theNorwegian law of Occupational pension scheme. The Group's pension scheme meets the requirements of this Act.", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__81": { "value": "Note 7 Salaries, remuneration and audit feesNOK 000'sSalaries and personnel expenses (NOK'000)20222021Salaries540,411465,896Social security costs86,45777,726Pensions24,11721,722Share-based compensation3,6062,878Other benefits and refunds32,13715,442Total salaries and personnel expenses686,728583,665Number of employees, average FTEs538478TotalremunerationRemuneration to executive management NOK'000Base salaryVariable payOther*PensionTotal remuneration to executive management 202214,6423,7131,91020,265626Total remuneration to executive management 202115,0002,84048018,320626*Other consists of e.g. health insurance plans, car allowance, telephone/mobile communication, share-options (NOK 1.2million in 2022) and housing allowance.** There have been changes in the executive management since 2021***Due to reduction of executive management effective from 2023 the Company had severance pay of NOK 1.2 million inthe financial year 2022.The table above is exclusive severance pay.Board remunerationCompensation to board members is not performance-related. Compensation to the Board is determined by the Annual GeneralMeeting, and the accrued cost for 2022 and 2021 is based on the decision made by the Annual General Meetings. Thecompensation is paid in arrears.20222021Remuneration to board members and nomination committeeCompensationCompensationChairman of the board - Kjetil Bakke Eriksen (from 28 April 2022)373247Board member - Trond Klethagen Johannessen (Chairman until 27 April 2022)327410Board member - Siw \u00d8degaard276288Board member - Trygve Christian Moe287257Board member - Toril Nag258233Nomination committee - Bj\u00f8rn Ivar Danielsen (board member until 5 May 2021)3019Nomination committee - Petter Tusvik1817Nomination committee - Trude Sleire (until 28 April 2021)6Nomination committee - John Morten Bjerkan (until 28 April 2021)9Total remuneration to board members and nomination committee1,5691,487Determination of remuneration to executive managementThe Company's executive management comprises the Chief Executive O\ufb03cer (CEO), the Chief Financial O\ufb03cer (CFO), DirectorBusiness Development, Regional Managers, Directors Communication and marketing and Group Advisor. Remuneration toexecutive management is mainly fixed salary as well as performance based bonus. CEO and CFOs bonus is decided by theremuneration committee and regional managers bonus is calculated by pre-determined KPIs, in line with the Remuneration Policy.The CEO and the CFO were entitled to bonuses for 2021 which were accrued for in the consolidated statement of comprehensiveincome for 2021 and paid in Q1 2022. The CEO received a bonus of NOK 0.7 million. The CFO received a bonus of NOK 0.15 million.The executive management is entitled to participate in the Long-term incentive programme as described in note 22.Bonuses for 2022 were accrued for in the consolidated statement of comprehensive income for 2022 and paid in Q1 2023. TheCEO was paid a bonus of NOK 0.42 millionThe accrued bonuses are included in the table above.The board of directors has established a remuneration committee. Chairman of the board Kjetil Bakke Eriksen serves as chair of thecommittee. Toril Nag and Trond K. Johannessen serve as members. The remuneration committee functions as an advisory body to theboard of directors, with the purpose of ensuring a thorough and independent preparation of matters regarding remuneration to theCompany's executive management.The main principle for the Company's remuneration policy is that the executive management shall be offered competitive termswhen their total remuneration package is taken into account. Such packages may consist of elements such as base-salary, bonus,share and option schemes, benefits in kind and pension arrangements. The Company shall seek to offer a remuneration level that isconsidered competitive and on market terms, compared to the level offered by its peers, and which seeks to satisfy the Company'sneed to recruit and keep highly qualified personnel in the executive management.The current guidelines have been prepared in accordance with the provisions of section 6-16a of the Norwegian Public LimitedCompanies Act, approved 28 April 2022 at the Annual General Meeting.The base salary paid to the executive management shall constitute the main part of their total remuneration. For executivemanagement also having a performance-based bonus, the base salary constitutes approximately 70-80% of the total remunerationpackage.The executive management is offered contributions in kind such as coverage of phone and phone expenses, private broadband,company health services, insurances, car allowance and coverage of travel expenses.The executive management participates in the Company's defined contribution pension scheme in accordance with mandatory law.The company's CEO receives a fixed car allowance at NOK 15,000 per month.The executive management may be offered performance-based bonuses in addition to their fixed remuneration. Suchperformance-based bonus shall be agreed on an individual basis if applicable. The criteria for any performance-based bonus shallbe determined by the board of directors and shall be linked to measurable factors, such as the achievement of pre-determined KPIs.The Company's CEO and CFO performance-based profit may constitute up to 40% and 35% respectively, and shall be determined bythe board of directors. For department managers the performance-based bonus is linked to the following KPIs- Revenue compared to budget/forecast- Number of employees compared to budget/forecast- Operating revenue compared to budget/forecastThe executive management may be offered Company shares and options to shares as a part of the total remuneration package.The executive management, and other managers as decided by the board of directors, are included in Websteps Long-termincentive program approved at the Annual General Meeting 2019. The program is further described in note 22.The other Group companies shall follow the main principles for remuneration of executives as described herein and guidelines fordetermination of salary and other remuneration to executive personnel in Webstep.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__83": { "value": "remunerationRemuneration to executive management NOK'000Base salaryVariable payOther*PensionTotal remuneration to executive management 202214,6423,7131,91020,265626Total remuneration to executive management 202115,0002,84048018,320626*Other consists of e.g. health insurance plans, car allowance, telephone/mobile communication, share-options (NOK 1.2million in 2022) and housing allowance.** There have been changes in the executive management since 2021***Due to reduction of executive management effective from 2023 the Company had severance pay of NOK 1.2 million inthe financial year 2022.The table above is exclusive severance pay.Board remunerationCompensation to board members is not performance-related. Compensation to the Board is determined by the Annual GeneralMeeting, and the accrued cost for 2022 and 2021 is based on the decision made by the Annual General Meetings. Thecompensation is paid in arrears.20222021Remuneration to board members and nomination committeeCompensationCompensationChairman of the board - Kjetil Bakke Eriksen (from 28 April 2022)373247Board member - Trond Klethagen Johannessen (Chairman until 27 April 2022)327410Board member - Siw \u00d8degaard276288Board member - Trygve Christian Moe287257Board member - Toril Nag258233Nomination committee - Bj\u00f8rn Ivar Danielsen (board member until 5 May 2021)3019Nomination committee - Petter Tusvik1817Nomination committee - Trude Sleire (until 28 April 2021)6Nomination committee - John Morten Bjerkan (until 28 April 2021)9Total remuneration to board members and nomination committee1,5691,487Determination of remuneration to executive managementThe Company's executive management comprises the Chief Executive O\ufb03cer (CEO), the Chief Financial O\ufb03cer (CFO), DirectorBusiness Development, Regional Managers, Directors Communication and marketing and Group Advisor. Remuneration toexecutive management is mainly fixed salary as well as performance based bonus. CEO and CFOs bonus is decided by theremuneration committee and regional managers bonus is calculated by pre-determined KPIs, in line with the Remuneration Policy.The CEO and the CFO were entitled to bonuses for 2021 which were accrued for in the consolidated statement of comprehensiveincome for 2021 and paid in Q1 2022. The CEO received a bonus of NOK 0.7 million. The CFO received a bonus of NOK 0.15 million.The executive management is entitled to participate in the Long-term incentive programme as described in note 22.Bonuses for 2022 were accrued for in the consolidated statement of comprehensive income for 2022 and paid in Q1 2023. TheCEO was paid a bonus of NOK 0.42 millionThe accrued bonuses are included in the table above.The board of directors has established a remuneration committee. Chairman of the board Kjetil Bakke Eriksen serves as chair of thecommittee. Toril Nag and Trond K. Johannessen serve as members. The remuneration committee functions as an advisory body to theboard of directors, with the purpose of ensuring a thorough and independent preparation of matters regarding remuneration to theCompany's executive management.The main principle for the Company's remuneration policy is that the executive management shall be offered competitive termswhen their total remuneration package is taken into account. Such packages may consist of elements such as base-salary, bonus,share and option schemes, benefits in kind and pension arrangements. The Company shall seek to offer a remuneration level that isconsidered competitive and on market terms, compared to the level offered by its peers, and which seeks to satisfy the Company'sneed to recruit and keep highly qualified personnel in the executive management.The current guidelines have been prepared in accordance with the provisions of section 6-16a of the Norwegian Public LimitedCompanies Act, approved 28 April 2022 at the Annual General Meeting.The base salary paid to the executive management shall constitute the main part of their total remuneration. For executivemanagement also having a performance-based bonus, the base salary constitutes approximately 70-80% of the total remunerationpackage.The executive management is offered contributions in kind such as coverage of phone and phone expenses, private broadband,company health services, insurances, car allowance and coverage of travel expenses.The executive management participates in the Company's defined contribution pension scheme in accordance with mandatory law.The company's CEO receives a fixed car allowance at NOK 15,000 per month.The executive management may be offered performance-based bonuses in addition to their fixed remuneration. Suchperformance-based bonus shall be agreed on an individual basis if applicable. The criteria for any performance-based bonus shallbe determined by the board of directors and shall be linked to measurable factors, such as the achievement of pre-determined KPIs.The Company's CEO and CFO performance-based profit may constitute up to 40% and 35% respectively, and shall be determined bythe board of directors. For department managers the performance-based bonus is linked to the following KPIs- Revenue compared to budget/forecast- Number of employees compared to budget/forecast- Operating revenue compared to budget/forecastThe executive management may be offered Company shares and options to shares as a part of the total remuneration package.The executive management, and other managers as decided by the board of directors, are included in Websteps Long-termincentive program approved at the Annual General Meeting 2019. The program is further described in note 22.The other Group companies shall follow the main principles for remuneration of executives as described herein and guidelines fordetermination of salary and other remuneration to executive personnel in Webstep.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__93": { "value": "Note 9 Financial itemsFinance incomeNOK'00020222021Interest income59598Other finance income (including foreign exchange effects)41922Total finance income1,014120Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.Finance expenseNOK'00020222021Interest expense(4,512)(2,987)Other finance expense (including foreign exchange effects)(877)(646)Total finance expense(5,389)(3,633)Interest expense primarily comprises interest and expenses paid on revolving credit facility(Note 21) and estimated interest on leasing liabilities (Note 24).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__92": { "value": "Note 9 Financial itemsFinance incomeNOK'00020222021Interest income59598Other finance income (including foreign exchange effects)41922Total finance income1,014120Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.Finance expenseNOK'00020222021Interest expense(4,512)(2,987)Other finance expense (including foreign exchange effects)(877)(646)Total finance expense(5,389)(3,633)Interest expense primarily comprises interest and expenses paid on revolving credit facility(Note 21) and estimated interest on leasing liabilities (Note 24).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__91": { "value": "Note 9 Financial itemsFinance incomeNOK'00020222021Interest income59598Other finance income (including foreign exchange effects)41922Total finance income1,014120Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.Finance expenseNOK'00020222021Interest expense(4,512)(2,987)Other finance expense (including foreign exchange effects)(877)(646)Total finance expense(5,389)(3,633)Interest expense primarily comprises interest and expenses paid on revolving credit facility(Note 21) and estimated interest on leasing liabilities (Note 24).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__90": { "value": "Note 9 Financial itemsFinance incomeNOK'00020222021Interest income59598Other finance income (including foreign exchange effects)41922Total finance income1,014120Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.Finance expenseNOK'00020222021Interest expense(4,512)(2,987)Other finance expense (including foreign exchange effects)(877)(646)Total finance expense(5,389)(3,633)Interest expense primarily comprises interest and expenses paid on revolving credit facility(Note 21) and estimated interest on leasing liabilities (Note 24).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__89": { "value": "Note 9 Financial itemsFinance incomeNOK'00020222021Interest income59598Other finance income (including foreign exchange effects)41922Total finance income1,014120Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.Finance expenseNOK'00020222021Interest expense(4,512)(2,987)Other finance expense (including foreign exchange effects)(877)(646)Total finance expense(5,389)(3,633)Interest expense primarily comprises interest and expenses paid on revolving credit facility(Note 21) and estimated interest on leasing liabilities (Note 24).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__88": { "value": "Note 9 Financial itemsFinance incomeNOK'00020222021Interest income59598Other finance income (including foreign exchange effects)41922Total finance income1,014120Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.Finance expenseNOK'00020222021Interest expense(4,512)(2,987)Other finance expense (including foreign exchange effects)(877)(646)Total finance expense(5,389)(3,633)Interest expense primarily comprises interest and expenses paid on revolving credit facility(Note 21) and estimated interest on leasing liabilities (Note 24).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__87": { "value": "Note 9 Financial itemsFinance incomeNOK'00020222021Interest income59598Other finance income (including foreign exchange effects)41922Total finance income1,014120Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.Finance expenseNOK'00020222021Interest expense(4,512)(2,987)Other finance expense (including foreign exchange effects)(877)(646)Total finance expense(5,389)(3,633)Interest expense primarily comprises interest and expenses paid on revolving credit facility(Note 21) and estimated interest on leasing liabilities (Note 24).", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__95": { "value": "Note 10 TaxesNOK 000'sConsolidated statement of profit or loss20222021Current income tax12,40414,384Unprovided income tax charge from previous year0252Deferred tax(566)(720)Income tax expense reported in the statement of profit or loss11,83813,916Reconciliation of tax expense and the accounting profit multiplied by the Group\u2019s tax rate for 2022 and2021:Reconciliation of tax base20222021Accounting profit before tax50,27462,411Permanent differences3,9851,147Change in temporary differences2,5773,288Tax base for the year56,83666,846Tax payable (22%)12,50414,706Prepaid tax(525)(30)Differences in tax rates on foreign subsidiary(101)(77)Tax payable in the balance sheet11,87814,599Deferred tax20222021Fixed assets2,0031,131Receivables988988Provisions, not yet tax deductible8,5296,036Statutory tax provisions in Sweden(8,593)(8,010)Total2,927144Net deferred tax asset/(liability) (22%)64432Effect of difference in tax rates Sweden (20,6%/22%)99101Total adjusted for differences in tax rates742133Re\ufb02ected in the statement of financial position as follows:Deferred tax assets2,1931,619Deferred tax liabilities(1,451)(1,486)Deferred tax liabilities, net742133Effective tax rate:Expected income tax11,06013,730Permanent differences877252Effect of change in tax rate and other(99)(67)Income tax expense*11,83813,916* Income tax expense in relation to income before tax23.5 %22.3 %The group had no R&D initiative that qualified for the government R&D tax incentive scheme (SkatteFUNN) in 2022. In 2021 NOK693 thousand was recognised as income under the R&D tax incentive scheme (SkatteFUNN), whereof NOK 308 thousandoriginated from 2020. This was related to an approved adjustment to one of the applications.", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__94": { "value": "Note 10 TaxesNOK 000'sConsolidated statement of profit or loss20222021Current income tax12,40414,384Unprovided income tax charge from previous year0252Deferred tax(566)(720)Income tax expense reported in the statement of profit or loss11,83813,916Reconciliation of tax expense and the accounting profit multiplied by the Group\u2019s tax rate for 2022 and2021:Reconciliation of tax base20222021Accounting profit before tax50,27462,411Permanent differences3,9851,147Change in temporary differences2,5773,288Tax base for the year56,83666,846Tax payable (22%)12,50414,706Prepaid tax(525)(30)Differences in tax rates on foreign subsidiary(101)(77)Tax payable in the balance sheet11,87814,599Deferred tax20222021Fixed assets2,0031,131Receivables988988Provisions, not yet tax deductible8,5296,036Statutory tax provisions in Sweden(8,593)(8,010)Total2,927144Net deferred tax asset/(liability) (22%)64432Effect of difference in tax rates Sweden (20,6%/22%)99101Total adjusted for differences in tax rates742133Re\ufb02ected in the statement of financial position as follows:Deferred tax assets2,1931,619Deferred tax liabilities(1,451)(1,486)Deferred tax liabilities, net742133Effective tax rate:Expected income tax11,06013,730Permanent differences877252Effect of change in tax rate and other(99)(67)Income tax expense*11,83813,916* Income tax expense in relation to income before tax23.5 %22.3 %The group had no R&D initiative that qualified for the government R&D tax incentive scheme (SkatteFUNN) in 2022. In 2021 NOK693 thousand was recognised as income under the R&D tax incentive scheme (SkatteFUNN), whereof NOK 308 thousandoriginated from 2020. This was related to an approved adjustment to one of the applications.", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__101": { "value": "Note 11 Intangible assets and goodwillCost,GoodwillGoodwillNOK 000'sNorwaySwedenR&DTotalAt 1 January 2021313,57571,7137,573392,861Additions0000Disposals0000Exchange adjustment0(4,742)0(4,742)At 31 December 2021313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Depreciation and impairmentAt January 1 202100(3,029)(3,029)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202100(4,543)(4,543)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Net book valueAt 31 December 2021313,57566,9713,030383,575At 31 December 2022313,57564,9641,515380,054Useful lifeInfiniteInfinite5 yearsDepreciation methodNANAStraight lineGoodwill includes the value from acquisition of Webstep AS in 2011 and Webstep AB in 2012, where NOK 313.5 million and NOK 58.6million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment.Capitalised R&D comprises investments in the strategic initiative Webstep Internet of Things (IoT), where a total of NOK 1.5 million isrecognised at balance date. The reclassification and recognition as an intangible asset is based on the management's assessment offuture economic benefits from the projects and that the criteria in IAS 38.57 is met.R&D activities that have been recognised as costs in the consolidated statement of comprehensive income in 2022 amount to NOK 0.0million (NOK 2.0 million in 2021).Impairment testingGoodwill acquired through business combinations has been allocated to two individual cash generating units (CGU), which are alsodefined as reportable segments according to note 6.Cash generating unitNOK'00020222021Norway313,575313,575Sweden64,96466,971378,539380,546Goodwill is tested for impairment at least annually, or when there are indications of impairment. The impairment test is conductedfor each cash generating unit, by evaluating the present value of future cash \ufb02ows, based on cash \ufb02ow projections five years ahead.The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash \ufb02owbefore tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.Key assumptions used in value in use calculations and sensitivity to changes in assumptions:The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing assumptions:\u2022 Discount rates\u2022 EBITDA\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast periodThe calculated weighted average cost of capital (WACC) after tax for Norway was 8.4 % and 6.7 % for Sweden. The risk free interestrate was 3.1% for Norway and 1.7 % for Sweden. The risk premium is calculated based on market statistics for comparablecompanies. The cash \ufb02ow forecast takes into account both historical results, expected future growth rates, and market conditions.These budgets and forecast calculations generally cover a period of five years. For Norway and Sweden, the underlying modelcalculates annual cash \ufb02ows per department, based on periodised employee development, utilisation rate, expected trend in hourlyrate, sales / management / overhead changes, wage growth and cost growth. The annualised compound growth rate over the next4 year period is 2% for each CGUs. The terminal growth rate used in calculating the terminal value is 1%. The EBITDA-margin in boththe Norwegian CGU and the Swedish CGU is expected to be in line with historical levels. The impairment model has significantheadroom between estimated value and carrying amount.Based on the impairment tests performed, there are no indications that impairment is required for any of the CGUs.The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for eachof the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a periodof five years. Market conditions are changing rapidly due to geopolitical instability, invasion of Ukraine and climate risk, andWebstep is following the development closely, however the Group does not expect any substantial implications on the Group\u2019sbusiness activities. A long-term growth rate is calculated and applied to project future cash \ufb02ows after the fifth year.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__100": { "value": "Note 11 Intangible assets and goodwillCost,GoodwillGoodwillNOK 000'sNorwaySwedenR&DTotalAt 1 January 2021313,57571,7137,573392,861Additions0000Disposals0000Exchange adjustment0(4,742)0(4,742)At 31 December 2021313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Depreciation and impairmentAt January 1 202100(3,029)(3,029)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202100(4,543)(4,543)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Net book valueAt 31 December 2021313,57566,9713,030383,575At 31 December 2022313,57564,9641,515380,054Useful lifeInfiniteInfinite5 yearsDepreciation methodNANAStraight lineGoodwill includes the value from acquisition of Webstep AS in 2011 and Webstep AB in 2012, where NOK 313.5 million and NOK 58.6million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment.Capitalised R&D comprises investments in the strategic initiative Webstep Internet of Things (IoT), where a total of NOK 1.5 million isrecognised at balance date. The reclassification and recognition as an intangible asset is based on the management's assessment offuture economic benefits from the projects and that the criteria in IAS 38.57 is met.R&D activities that have been recognised as costs in the consolidated statement of comprehensive income in 2022 amount to NOK 0.0million (NOK 2.0 million in 2021).Impairment testingGoodwill acquired through business combinations has been allocated to two individual cash generating units (CGU), which are alsodefined as reportable segments according to note 6.Cash generating unitNOK'00020222021Norway313,575313,575Sweden64,96466,971378,539380,546Goodwill is tested for impairment at least annually, or when there are indications of impairment. The impairment test is conductedfor each cash generating unit, by evaluating the present value of future cash \ufb02ows, based on cash \ufb02ow projections five years ahead.The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash \ufb02owbefore tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.Key assumptions used in value in use calculations and sensitivity to changes in assumptions:The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing assumptions:\u2022 Discount rates\u2022 EBITDA\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast periodThe calculated weighted average cost of capital (WACC) after tax for Norway was 8.4 % and 6.7 % for Sweden. The risk free interestrate was 3.1% for Norway and 1.7 % for Sweden. The risk premium is calculated based on market statistics for comparablecompanies. The cash \ufb02ow forecast takes into account both historical results, expected future growth rates, and market conditions.These budgets and forecast calculations generally cover a period of five years. For Norway and Sweden, the underlying modelcalculates annual cash \ufb02ows per department, based on periodised employee development, utilisation rate, expected trend in hourlyrate, sales / management / overhead changes, wage growth and cost growth. The annualised compound growth rate over the next4 year period is 2% for each CGUs. The terminal growth rate used in calculating the terminal value is 1%. The EBITDA-margin in boththe Norwegian CGU and the Swedish CGU is expected to be in line with historical levels. The impairment model has significantheadroom between estimated value and carrying amount.Based on the impairment tests performed, there are no indications that impairment is required for any of the CGUs.The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for eachof the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a periodof five years. Market conditions are changing rapidly due to geopolitical instability, invasion of Ukraine and climate risk, andWebstep is following the development closely, however the Group does not expect any substantial implications on the Group\u2019sbusiness activities. A long-term growth rate is calculated and applied to project future cash \ufb02ows after the fifth year.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__99": { "value": "Note 11 Intangible assets and goodwillCost,GoodwillGoodwillNOK 000'sNorwaySwedenR&DTotalAt 1 January 2021313,57571,7137,573392,861Additions0000Disposals0000Exchange adjustment0(4,742)0(4,742)At 31 December 2021313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Depreciation and impairmentAt January 1 202100(3,029)(3,029)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202100(4,543)(4,543)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Net book valueAt 31 December 2021313,57566,9713,030383,575At 31 December 2022313,57564,9641,515380,054Useful lifeInfiniteInfinite5 yearsDepreciation methodNANAStraight lineGoodwill includes the value from acquisition of Webstep AS in 2011 and Webstep AB in 2012, where NOK 313.5 million and NOK 58.6million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment.Capitalised R&D comprises investments in the strategic initiative Webstep Internet of Things (IoT), where a total of NOK 1.5 million isrecognised at balance date. The reclassification and recognition as an intangible asset is based on the management's assessment offuture economic benefits from the projects and that the criteria in IAS 38.57 is met.R&D activities that have been recognised as costs in the consolidated statement of comprehensive income in 2022 amount to NOK 0.0million (NOK 2.0 million in 2021).Impairment testingGoodwill acquired through business combinations has been allocated to two individual cash generating units (CGU), which are alsodefined as reportable segments according to note 6.Cash generating unitNOK'00020222021Norway313,575313,575Sweden64,96466,971378,539380,546Goodwill is tested for impairment at least annually, or when there are indications of impairment. The impairment test is conductedfor each cash generating unit, by evaluating the present value of future cash \ufb02ows, based on cash \ufb02ow projections five years ahead.The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash \ufb02owbefore tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.Key assumptions used in value in use calculations and sensitivity to changes in assumptions:The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing assumptions:\u2022 Discount rates\u2022 EBITDA\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast periodThe calculated weighted average cost of capital (WACC) after tax for Norway was 8.4 % and 6.7 % for Sweden. The risk free interestrate was 3.1% for Norway and 1.7 % for Sweden. The risk premium is calculated based on market statistics for comparablecompanies. The cash \ufb02ow forecast takes into account both historical results, expected future growth rates, and market conditions.These budgets and forecast calculations generally cover a period of five years. For Norway and Sweden, the underlying modelcalculates annual cash \ufb02ows per department, based on periodised employee development, utilisation rate, expected trend in hourlyrate, sales / management / overhead changes, wage growth and cost growth. The annualised compound growth rate over the next4 year period is 2% for each CGUs. The terminal growth rate used in calculating the terminal value is 1%. The EBITDA-margin in boththe Norwegian CGU and the Swedish CGU is expected to be in line with historical levels. The impairment model has significantheadroom between estimated value and carrying amount.Based on the impairment tests performed, there are no indications that impairment is required for any of the CGUs.The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for eachof the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a periodof five years. Market conditions are changing rapidly due to geopolitical instability, invasion of Ukraine and climate risk, andWebstep is following the development closely, however the Group does not expect any substantial implications on the Group\u2019sbusiness activities. A long-term growth rate is calculated and applied to project future cash \ufb02ows after the fifth year.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__98": { "value": "Note 11 Intangible assets and goodwillCost,GoodwillGoodwillNOK 000'sNorwaySwedenR&DTotalAt 1 January 2021313,57571,7137,573392,861Additions0000Disposals0000Exchange adjustment0(4,742)0(4,742)At 31 December 2021313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Depreciation and impairmentAt January 1 202100(3,029)(3,029)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202100(4,543)(4,543)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Net book valueAt 31 December 2021313,57566,9713,030383,575At 31 December 2022313,57564,9641,515380,054Useful lifeInfiniteInfinite5 yearsDepreciation methodNANAStraight lineGoodwill includes the value from acquisition of Webstep AS in 2011 and Webstep AB in 2012, where NOK 313.5 million and NOK 58.6million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment.Capitalised R&D comprises investments in the strategic initiative Webstep Internet of Things (IoT), where a total of NOK 1.5 million isrecognised at balance date. The reclassification and recognition as an intangible asset is based on the management's assessment offuture economic benefits from the projects and that the criteria in IAS 38.57 is met.R&D activities that have been recognised as costs in the consolidated statement of comprehensive income in 2022 amount to NOK 0.0million (NOK 2.0 million in 2021).Impairment testingGoodwill acquired through business combinations has been allocated to two individual cash generating units (CGU), which are alsodefined as reportable segments according to note 6.Cash generating unitNOK'00020222021Norway313,575313,575Sweden64,96466,971378,539380,546Goodwill is tested for impairment at least annually, or when there are indications of impairment. The impairment test is conductedfor each cash generating unit, by evaluating the present value of future cash \ufb02ows, based on cash \ufb02ow projections five years ahead.The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash \ufb02owbefore tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.Key assumptions used in value in use calculations and sensitivity to changes in assumptions:The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing assumptions:\u2022 Discount rates\u2022 EBITDA\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast periodThe calculated weighted average cost of capital (WACC) after tax for Norway was 8.4 % and 6.7 % for Sweden. The risk free interestrate was 3.1% for Norway and 1.7 % for Sweden. The risk premium is calculated based on market statistics for comparablecompanies. The cash \ufb02ow forecast takes into account both historical results, expected future growth rates, and market conditions.These budgets and forecast calculations generally cover a period of five years. For Norway and Sweden, the underlying modelcalculates annual cash \ufb02ows per department, based on periodised employee development, utilisation rate, expected trend in hourlyrate, sales / management / overhead changes, wage growth and cost growth. The annualised compound growth rate over the next4 year period is 2% for each CGUs. The terminal growth rate used in calculating the terminal value is 1%. The EBITDA-margin in boththe Norwegian CGU and the Swedish CGU is expected to be in line with historical levels. The impairment model has significantheadroom between estimated value and carrying amount.Based on the impairment tests performed, there are no indications that impairment is required for any of the CGUs.The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for eachof the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a periodof five years. Market conditions are changing rapidly due to geopolitical instability, invasion of Ukraine and climate risk, andWebstep is following the development closely, however the Group does not expect any substantial implications on the Group\u2019sbusiness activities. A long-term growth rate is calculated and applied to project future cash \ufb02ows after the fifth year.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__97": { "value": "Note 11 Intangible assets and goodwillCost,GoodwillGoodwillNOK 000'sNorwaySwedenR&DTotalAt 1 January 2021313,57571,7137,573392,861Additions0000Disposals0000Exchange adjustment0(4,742)0(4,742)At 31 December 2021313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Depreciation and impairmentAt January 1 202100(3,029)(3,029)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202100(4,543)(4,543)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Net book valueAt 31 December 2021313,57566,9713,030383,575At 31 December 2022313,57564,9641,515380,054Useful lifeInfiniteInfinite5 yearsDepreciation methodNANAStraight lineGoodwill includes the value from acquisition of Webstep AS in 2011 and Webstep AB in 2012, where NOK 313.5 million and NOK 58.6million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment.Capitalised R&D comprises investments in the strategic initiative Webstep Internet of Things (IoT), where a total of NOK 1.5 million isrecognised at balance date. The reclassification and recognition as an intangible asset is based on the management's assessment offuture economic benefits from the projects and that the criteria in IAS 38.57 is met.R&D activities that have been recognised as costs in the consolidated statement of comprehensive income in 2022 amount to NOK 0.0million (NOK 2.0 million in 2021).Impairment testingGoodwill acquired through business combinations has been allocated to two individual cash generating units (CGU), which are alsodefined as reportable segments according to note 6.Cash generating unitNOK'00020222021Norway313,575313,575Sweden64,96466,971378,539380,546Goodwill is tested for impairment at least annually, or when there are indications of impairment. The impairment test is conductedfor each cash generating unit, by evaluating the present value of future cash \ufb02ows, based on cash \ufb02ow projections five years ahead.The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash \ufb02owbefore tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.Key assumptions used in value in use calculations and sensitivity to changes in assumptions:The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing assumptions:\u2022 Discount rates\u2022 EBITDA\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast periodThe calculated weighted average cost of capital (WACC) after tax for Norway was 8.4 % and 6.7 % for Sweden. The risk free interestrate was 3.1% for Norway and 1.7 % for Sweden. The risk premium is calculated based on market statistics for comparablecompanies. The cash \ufb02ow forecast takes into account both historical results, expected future growth rates, and market conditions.These budgets and forecast calculations generally cover a period of five years. For Norway and Sweden, the underlying modelcalculates annual cash \ufb02ows per department, based on periodised employee development, utilisation rate, expected trend in hourlyrate, sales / management / overhead changes, wage growth and cost growth. The annualised compound growth rate over the next4 year period is 2% for each CGUs. The terminal growth rate used in calculating the terminal value is 1%. The EBITDA-margin in boththe Norwegian CGU and the Swedish CGU is expected to be in line with historical levels. The impairment model has significantheadroom between estimated value and carrying amount.Based on the impairment tests performed, there are no indications that impairment is required for any of the CGUs.The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for eachof the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a periodof five years. Market conditions are changing rapidly due to geopolitical instability, invasion of Ukraine and climate risk, andWebstep is following the development closely, however the Group does not expect any substantial implications on the Group\u2019sbusiness activities. A long-term growth rate is calculated and applied to project future cash \ufb02ows after the fifth year.", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__96-1": { "value": "Note 11 Intangible assets and goodwillCost,GoodwillGoodwillNOK 000'sNorwaySwedenR&DTotalAt 1 January 2021313,57571,7137,573392,861Additions0000Disposals0000Exchange adjustment0(4,742)0(4,742)At 31 December 2021313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Depreciation and impairmentAt January 1 202100(3,029)(3,029)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202100(4,543)(4,543)Impairment00Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Net book valueAt 31 December 2021313,57566,9713,030383,575At 31 December 2022313,57564,9641,515380,054Useful lifeInfiniteInfinite5 yearsDepreciation methodNANAStraight lineGoodwill includes the value from acquisition of Webstep AS in 2011 and Webstep AB in 2012, where NOK 313.5 million and NOK 58.6million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment.Capitalised R&D comprises investments in the strategic initiative Webstep Internet of Things (IoT), where a total of NOK 1.5 million isrecognised at balance date. The reclassification and recognition as an intangible asset is based on the management's assessment offuture economic benefits from the projects and that the criteria in IAS 38.57 is met.R&D activities that have been recognised as costs in the consolidated statement of comprehensive income in 2022 amount to NOK 0.0million (NOK 2.0 million in 2021).Impairment testingGoodwill acquired through business combinations has been allocated to two individual cash generating units (CGU), which are alsodefined as reportable segments according to note 6.Cash generating unitNOK'00020222021Norway313,575313,575Sweden64,96466,971378,539380,546Goodwill is tested for impairment at least annually, or when there are indications of impairment. The impairment test is conductedfor each cash generating unit, by evaluating the present value of future cash \ufb02ows, based on cash \ufb02ow projections five years ahead.The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash \ufb02owbefore tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.Key assumptions used in value in use calculations and sensitivity to changes in assumptions:The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing assumptions:\u2022 Discount rates\u2022 EBITDA\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast periodThe calculated weighted average cost of capital (WACC) after tax for Norway was 8.4 % and 6.7 % for Sweden. The risk free interestrate was 3.1% for Norway and 1.7 % for Sweden. The risk premium is calculated based on market statistics for comparablecompanies. The cash \ufb02ow forecast takes into account both historical results, expected future growth rates, and market conditions.These budgets and forecast calculations generally cover a period of five years. For Norway and Sweden, the underlying modelcalculates annual cash \ufb02ows per department, based on periodised employee development, utilisation rate, expected trend in hourlyrate, sales / management / overhead changes, wage growth and cost growth. The annualised compound growth rate over the next4 year period is 2% for each CGUs. The terminal growth rate used in calculating the terminal value is 1%. The EBITDA-margin in boththe Norwegian CGU and the Swedish CGU is expected to be in line with historical levels. The impairment model has significantheadroom between estimated value and carrying amount.Based on the impairment tests performed, there are no indications that impairment is required for any of the CGUs.The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for eachof the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a periodof five years. Market conditions are changing rapidly due to geopolitical instability, invasion of Ukraine and climate risk, andWebstep is following the development closely, however the Group does not expect any substantial implications on the Group\u2019sbusiness activities. A long-term growth rate is calculated and applied to project future cash \ufb02ows after the fifth year.Note 12 Fixed assetsEquipment,Cost,fixtures andRight-of-useNOK'000furnitureassetsTotalAt 1 January 202126,02950,81176,840Additions7,75038,80146,551Disposals0(16,172)(16,172)Exchange adjustment0(920)(920)Cost at 31 December 202133,77972,520106,299Cost at 1 January 202233,77972,520106,299Additions10,72419,13629,860Disposals0(4,179)(4,179)Exchange adjustment0(508)(508)Cost at 31 December 202244,50386,969131,472Depreciation and impairmentAt 1 January 2021(19,539)(16,003)(35,542)Disposals015,9130Impairment000Depreciation charge for the year(3,884)(9,881)(12,390)Exchange adjustment000Other000At 31 December 2021(23,423)(9,971)(33,395)Disposals01,5001,500Impairment0(1,785)(1,785)Depreciation charge for the year(6,626)(11,654)(18,280)Exchange adjustment(7)0(7)Other000At 31 December 2022(30,056)(21,910)(51,967)Net book valueAt 31 December 202110,35562,54872,903At 31 December 202214,44765,05979,507Useful life3 - 5 year1-5 yearDepreciation methodStraight lineAmortisation", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__103": { "value": "Note 13 Financial assets \u2013 non-current vs currentThe only non-current, financial asset is a deposit.Financial assets,NOK'00020222021Other long term deposit20Total20", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__104": { "value": "Note 14 Trade and other receivablesTrade and other receivablesNOK'00020222021Trade receivables - net of related parties146,730133,749Provision for bad debt(988)(988)Trade Receivables net of provision145,742132,761Prepayments and other receivables9,12911,439Receivables from related parties00Payables to related parties00Total trade receivables and prepayments154,872144,200Of which long-term receivables from related parties00Short-term Receivables and prepayments154,872144,200Specification of receivablesNOK'00020222021Trade receivables143,550129,315Accrued income2,1923,446Other receivables00Trade and other receivables145,742132,761Prepaid costs8,22210,585Prepaid public duty debt142478Prepaid rent765376Prepayments9,12911,439Total receivables and prepayments154,871144,200Due dates and fair value of trade and other receivablesNOK'00020222021Due within one year*)154,871144,200After one year **)00Fair Value154,871144,200*) For receivables due within one year, fair value is equal to nominal value.**) Receivables that are due later than one year are discounted and stated as fairvalue.Group has a bad debt provision of NOK 988 thousand in 2022 equal to NOK 988thousand in 2021.30-60NOK'000TotalNot due<30 daysdays>60 days2022146,73099,95742,2021,1743,3952021133,74993,72036,2713,009749Trade receivables at year end were NOK 146.7 million (NOK 133,7 million).", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__108": { "value": "Note 15 Cash and short-term depositsCash and Cash Equivalents,NOK'00020222021Cash in bank62,34046,690Cash equivalents00Total Cash and Cash Equivalents62,34046,690Utilised bank overdraft00Net Cash and Cash Equivalents/Bank overdraft62,34046,690Of which Restricted Cash:Guarantees for leases and credits from suppliers1,1161,149Taxes withheld581744Other restricted cash00Total Restricted Cash1,6971,893For further details on the Group's cash reporting and cashpooling system, see note 17.", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__106": { "value": "Note 15 Cash and short-term depositsCash and Cash Equivalents,NOK'00020222021Cash in bank62,34046,690Cash equivalents00Total Cash and Cash Equivalents62,34046,690Utilised bank overdraft00Net Cash and Cash Equivalents/Bank overdraft62,34046,690Of which Restricted Cash:Guarantees for leases and credits from suppliers1,1161,149Taxes withheld581744Other restricted cash00Total Restricted Cash1,6971,893For further details on the Group's cash reporting and cashpooling system, see note 17.", "dimensions": { "concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__113": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20222021No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,62827,322No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,32226,967Issued306355At 31 December27,62827,322No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(54)(60)Sale of treasury shares246At 31 December(29)(54)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 202116,21216,212Foreign currency translation(5,929)7,892At 31 December 202110,28416,213Foreign currency translation(2,589)-5,929At 31 December 20227,69510,28420222021Share capital27,62827,323Treasury shares(29)(54)Share premium179,190172,775Retained earnings178,918183,365Non-controlling interest00Shareholders equity inclusive currency translation393,401393,692ForeignStatement of changes in equitycurrencyTotalNon-contIssuedTreasurySharetranslationRetainedearnedrollingTotalNOK 000'sNotecapitalsharespremiumreserveearningsequityinterestsequityAt 1 January 202126,967-59162,02016,212175,045380,185-380,185Profit for the period----48,49548,495-48,495Other comprehensiveincome/(loss)----5,929--5,929--5,929Sales of treasury shares-6111--117-117Share incentive program--2,8782,878-2,878Share issue355-10,644--10,99910,999Dividends26-----43,052-43,052--43,052At 31 December 202127,322-53172,77510,283183,366393,692-393,692Profit for the period----38,43638,436-38,436Other comprehensiveincome/(loss)----2,589--2,589--2,589Sales of treasury shares24432456-456Share incentive program3,6063,606-3,606Dividends26-46,489-46,489--46,489Share issue3065,9826,2886,288At 31 December 202227,628-29179,1897,695178,919393,401-393,401Top 20 shareholders 31 December 2022Shareholder nameSharesOwnershipVoting rightsEmbro Eiendom AS8,312,72730.1%30.1%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,430,1215.2%5.2%VERDIPAPIRFONDET DNB SMB1,139,2844.1%4.1%JAKOB HATTELAND HOLDING AS1,000,0003.6%3.6%PROTECTOR FORSIKRING ASA1,000,0003.6%3.6%J.P. Morgan SE900,0003.3%3.3%HOLMEN SPESIALFOND861,5243.1%3.1%VERDIPAPIRFONDET NORDEA NORGE VERD664,3172.4%2.4%Danske Invest Norge Vekst542,0002.0%2.0%HVALER INVEST AS500,0001.8%1.8%Goldman Sachs International416,5711.5%1.5%HAUSTA INVESTOR AS400,0001.4%1.4%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%IVAR L\u00d8GE AS250,0000.9%0.9%Pictet & Cie (Europe) S.A.232,6750.8%0.8%VERDIPAPIRFONDET NORDEA AVKASTNING230,3830.8%0.8%EUROVEST AS230,0000.8%0.8%Other shareholders6,489,04323.5%23.5%Total number of shares excluding treasury shares27,598,51599.89%100.00%Treasury shares as of 31 December 202229,9830.11%Total shares issued27,628,498100.00%Shareholding by board members, management and their related parties as of 31 December 2022SharesOwnershipVoting rightsKjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Trond K. Johannessen63,0000.23%0.23%Trygve Christian Moe (Birkeland & Salvesen AS)23,9250.09%0.09%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Toril Nag3,5700.01%0.01%Save Asmervik13,2930.05%0.05%Jacob Cardell (Nominee)20,0200.07%0.07%Terje Orvedal (Illari AS)9,1430.03%0.03%Joar Krohn (Kronoko Holding AS and privatly held)99,3200.36%0.36%Dagfinn Haslebrekk7,6180.03%0.03%Arnt Roger Aasen (Aravi AS and privatly held)26,0320.09%0.09%Otto Backer Solberg18,6270.07%0.07%Rolf Helle (Xerxes AS and privatly held)41,2470.15%0.15%Erlend N\u00e6vdal8450.00%0.00%Anders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Trygve Christian Moe is employed by Embron Group AS, which is owned by J.C. Broch AS.Webstep ASA holds 29,983 treasury shares. These shares have no voting rights nor dividend rights.", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__112": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20222021No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,62827,322No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,32226,967Issued306355At 31 December27,62827,322No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(54)(60)Sale of treasury shares246At 31 December(29)(54)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 202116,21216,212Foreign currency translation(5,929)7,892At 31 December 202110,28416,213Foreign currency translation(2,589)-5,929At 31 December 20227,69510,28420222021Share capital27,62827,323Treasury shares(29)(54)Share premium179,190172,775Retained earnings178,918183,365Non-controlling interest00Shareholders equity inclusive currency translation393,401393,692ForeignStatement of changes in equitycurrencyTotalNon-contIssuedTreasurySharetranslationRetainedearnedrollingTotalNOK 000'sNotecapitalsharespremiumreserveearningsequityinterestsequityAt 1 January 202126,967-59162,02016,212175,045380,185-380,185Profit for the period----48,49548,495-48,495Other comprehensiveincome/(loss)----5,929--5,929--5,929Sales of treasury shares-6111--117-117Share incentive program--2,8782,878-2,878Share issue355-10,644--10,99910,999Dividends26-----43,052-43,052--43,052At 31 December 202127,322-53172,77510,283183,366393,692-393,692Profit for the period----38,43638,436-38,436Other comprehensiveincome/(loss)----2,589--2,589--2,589Sales of treasury shares24432456-456Share incentive program3,6063,606-3,606Dividends26-46,489-46,489--46,489Share issue3065,9826,2886,288At 31 December 202227,628-29179,1897,695178,919393,401-393,401Top 20 shareholders 31 December 2022Shareholder nameSharesOwnershipVoting rightsEmbro Eiendom AS8,312,72730.1%30.1%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,430,1215.2%5.2%VERDIPAPIRFONDET DNB SMB1,139,2844.1%4.1%JAKOB HATTELAND HOLDING AS1,000,0003.6%3.6%PROTECTOR FORSIKRING ASA1,000,0003.6%3.6%J.P. Morgan SE900,0003.3%3.3%HOLMEN SPESIALFOND861,5243.1%3.1%VERDIPAPIRFONDET NORDEA NORGE VERD664,3172.4%2.4%Danske Invest Norge Vekst542,0002.0%2.0%HVALER INVEST AS500,0001.8%1.8%Goldman Sachs International416,5711.5%1.5%HAUSTA INVESTOR AS400,0001.4%1.4%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%IVAR L\u00d8GE AS250,0000.9%0.9%Pictet & Cie (Europe) S.A.232,6750.8%0.8%VERDIPAPIRFONDET NORDEA AVKASTNING230,3830.8%0.8%EUROVEST AS230,0000.8%0.8%Other shareholders6,489,04323.5%23.5%Total number of shares excluding treasury shares27,598,51599.89%100.00%Treasury shares as of 31 December 202229,9830.11%Total shares issued27,628,498100.00%Shareholding by board members, management and their related parties as of 31 December 2022SharesOwnershipVoting rightsKjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Trond K. Johannessen63,0000.23%0.23%Trygve Christian Moe (Birkeland & Salvesen AS)23,9250.09%0.09%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Toril Nag3,5700.01%0.01%Save Asmervik13,2930.05%0.05%Jacob Cardell (Nominee)20,0200.07%0.07%Terje Orvedal (Illari AS)9,1430.03%0.03%Joar Krohn (Kronoko Holding AS and privatly held)99,3200.36%0.36%Dagfinn Haslebrekk7,6180.03%0.03%Arnt Roger Aasen (Aravi AS and privatly held)26,0320.09%0.09%Otto Backer Solberg18,6270.07%0.07%Rolf Helle (Xerxes AS and privatly held)41,2470.15%0.15%Erlend N\u00e6vdal8450.00%0.00%Anders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Trygve Christian Moe is employed by Embron Group AS, which is owned by J.C. Broch AS.Webstep ASA holds 29,983 treasury shares. These shares have no voting rights nor dividend rights.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__111": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20222021No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,62827,322No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,32226,967Issued306355At 31 December27,62827,322No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(54)(60)Sale of treasury shares246At 31 December(29)(54)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 202116,21216,212Foreign currency translation(5,929)7,892At 31 December 202110,28416,213Foreign currency translation(2,589)-5,929At 31 December 20227,69510,28420222021Share capital27,62827,323Treasury shares(29)(54)Share premium179,190172,775Retained earnings178,918183,365Non-controlling interest00Shareholders equity inclusive currency translation393,401393,692ForeignStatement of changes in equitycurrencyTotalNon-contIssuedTreasurySharetranslationRetainedearnedrollingTotalNOK 000'sNotecapitalsharespremiumreserveearningsequityinterestsequityAt 1 January 202126,967-59162,02016,212175,045380,185-380,185Profit for the period----48,49548,495-48,495Other comprehensiveincome/(loss)----5,929--5,929--5,929Sales of treasury shares-6111--117-117Share incentive program--2,8782,878-2,878Share issue355-10,644--10,99910,999Dividends26-----43,052-43,052--43,052At 31 December 202127,322-53172,77510,283183,366393,692-393,692Profit for the period----38,43638,436-38,436Other comprehensiveincome/(loss)----2,589--2,589--2,589Sales of treasury shares24432456-456Share incentive program3,6063,606-3,606Dividends26-46,489-46,489--46,489Share issue3065,9826,2886,288At 31 December 202227,628-29179,1897,695178,919393,401-393,401Top 20 shareholders 31 December 2022Shareholder nameSharesOwnershipVoting rightsEmbro Eiendom AS8,312,72730.1%30.1%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,430,1215.2%5.2%VERDIPAPIRFONDET DNB SMB1,139,2844.1%4.1%JAKOB HATTELAND HOLDING AS1,000,0003.6%3.6%PROTECTOR FORSIKRING ASA1,000,0003.6%3.6%J.P. Morgan SE900,0003.3%3.3%HOLMEN SPESIALFOND861,5243.1%3.1%VERDIPAPIRFONDET NORDEA NORGE VERD664,3172.4%2.4%Danske Invest Norge Vekst542,0002.0%2.0%HVALER INVEST AS500,0001.8%1.8%Goldman Sachs International416,5711.5%1.5%HAUSTA INVESTOR AS400,0001.4%1.4%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%IVAR L\u00d8GE AS250,0000.9%0.9%Pictet & Cie (Europe) S.A.232,6750.8%0.8%VERDIPAPIRFONDET NORDEA AVKASTNING230,3830.8%0.8%EUROVEST AS230,0000.8%0.8%Other shareholders6,489,04323.5%23.5%Total number of shares excluding treasury shares27,598,51599.89%100.00%Treasury shares as of 31 December 202229,9830.11%Total shares issued27,628,498100.00%Shareholding by board members, management and their related parties as of 31 December 2022SharesOwnershipVoting rightsKjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Trond K. Johannessen63,0000.23%0.23%Trygve Christian Moe (Birkeland & Salvesen AS)23,9250.09%0.09%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Toril Nag3,5700.01%0.01%Save Asmervik13,2930.05%0.05%Jacob Cardell (Nominee)20,0200.07%0.07%Terje Orvedal (Illari AS)9,1430.03%0.03%Joar Krohn (Kronoko Holding AS and privatly held)99,3200.36%0.36%Dagfinn Haslebrekk7,6180.03%0.03%Arnt Roger Aasen (Aravi AS and privatly held)26,0320.09%0.09%Otto Backer Solberg18,6270.07%0.07%Rolf Helle (Xerxes AS and privatly held)41,2470.15%0.15%Erlend N\u00e6vdal8450.00%0.00%Anders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Trygve Christian Moe is employed by Embron Group AS, which is owned by J.C. Broch AS.Webstep ASA holds 29,983 treasury shares. These shares have no voting rights nor dividend rights.", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__110": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20222021No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,62827,322No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,32226,967Issued306355At 31 December27,62827,322No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(54)(60)Sale of treasury shares246At 31 December(29)(54)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 202116,21216,212Foreign currency translation(5,929)7,892At 31 December 202110,28416,213Foreign currency translation(2,589)-5,929At 31 December 20227,69510,28420222021Share capital27,62827,323Treasury shares(29)(54)Share premium179,190172,775Retained earnings178,918183,365Non-controlling interest00Shareholders equity inclusive currency translation393,401393,692ForeignStatement of changes in equitycurrencyTotalNon-contIssuedTreasurySharetranslationRetainedearnedrollingTotalNOK 000'sNotecapitalsharespremiumreserveearningsequityinterestsequityAt 1 January 202126,967-59162,02016,212175,045380,185-380,185Profit for the period----48,49548,495-48,495Other comprehensiveincome/(loss)----5,929--5,929--5,929Sales of treasury shares-6111--117-117Share incentive program--2,8782,878-2,878Share issue355-10,644--10,99910,999Dividends26-----43,052-43,052--43,052At 31 December 202127,322-53172,77510,283183,366393,692-393,692Profit for the period----38,43638,436-38,436Other comprehensiveincome/(loss)----2,589--2,589--2,589Sales of treasury shares24432456-456Share incentive program3,6063,606-3,606Dividends26-46,489-46,489--46,489Share issue3065,9826,2886,288At 31 December 202227,628-29179,1897,695178,919393,401-393,401Top 20 shareholders 31 December 2022Shareholder nameSharesOwnershipVoting rightsEmbro Eiendom AS8,312,72730.1%30.1%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,430,1215.2%5.2%VERDIPAPIRFONDET DNB SMB1,139,2844.1%4.1%JAKOB HATTELAND HOLDING AS1,000,0003.6%3.6%PROTECTOR FORSIKRING ASA1,000,0003.6%3.6%J.P. Morgan SE900,0003.3%3.3%HOLMEN SPESIALFOND861,5243.1%3.1%VERDIPAPIRFONDET NORDEA NORGE VERD664,3172.4%2.4%Danske Invest Norge Vekst542,0002.0%2.0%HVALER INVEST AS500,0001.8%1.8%Goldman Sachs International416,5711.5%1.5%HAUSTA INVESTOR AS400,0001.4%1.4%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%IVAR L\u00d8GE AS250,0000.9%0.9%Pictet & Cie (Europe) S.A.232,6750.8%0.8%VERDIPAPIRFONDET NORDEA AVKASTNING230,3830.8%0.8%EUROVEST AS230,0000.8%0.8%Other shareholders6,489,04323.5%23.5%Total number of shares excluding treasury shares27,598,51599.89%100.00%Treasury shares as of 31 December 202229,9830.11%Total shares issued27,628,498100.00%Shareholding by board members, management and their related parties as of 31 December 2022SharesOwnershipVoting rightsKjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Trond K. Johannessen63,0000.23%0.23%Trygve Christian Moe (Birkeland & Salvesen AS)23,9250.09%0.09%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Toril Nag3,5700.01%0.01%Save Asmervik13,2930.05%0.05%Jacob Cardell (Nominee)20,0200.07%0.07%Terje Orvedal (Illari AS)9,1430.03%0.03%Joar Krohn (Kronoko Holding AS and privatly held)99,3200.36%0.36%Dagfinn Haslebrekk7,6180.03%0.03%Arnt Roger Aasen (Aravi AS and privatly held)26,0320.09%0.09%Otto Backer Solberg18,6270.07%0.07%Rolf Helle (Xerxes AS and privatly held)41,2470.15%0.15%Erlend N\u00e6vdal8450.00%0.00%Anders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Trygve Christian Moe is employed by Embron Group AS, which is owned by J.C. Broch AS.Webstep ASA holds 29,983 treasury shares. These shares have no voting rights nor dividend rights.", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__109": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20222021No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,62827,322No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,32226,967Issued306355At 31 December27,62827,322No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(54)(60)Sale of treasury shares246At 31 December(29)(54)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 202116,21216,212Foreign currency translation(5,929)7,892At 31 December 202110,28416,213Foreign currency translation(2,589)-5,929At 31 December 20227,69510,28420222021Share capital27,62827,323Treasury shares(29)(54)Share premium179,190172,775Retained earnings178,918183,365Non-controlling interest00Shareholders equity inclusive currency translation393,401393,692ForeignStatement of changes in equitycurrencyTotalNon-contIssuedTreasurySharetranslationRetainedearnedrollingTotalNOK 000'sNotecapitalsharespremiumreserveearningsequityinterestsequityAt 1 January 202126,967-59162,02016,212175,045380,185-380,185Profit for the period----48,49548,495-48,495Other comprehensiveincome/(loss)----5,929--5,929--5,929Sales of treasury shares-6111--117-117Share incentive program--2,8782,878-2,878Share issue355-10,644--10,99910,999Dividends26-----43,052-43,052--43,052At 31 December 202127,322-53172,77510,283183,366393,692-393,692Profit for the period----38,43638,436-38,436Other comprehensiveincome/(loss)----2,589--2,589--2,589Sales of treasury shares24432456-456Share incentive program3,6063,606-3,606Dividends26-46,489-46,489--46,489Share issue3065,9826,2886,288At 31 December 202227,628-29179,1897,695178,919393,401-393,401Top 20 shareholders 31 December 2022Shareholder nameSharesOwnershipVoting rightsEmbro Eiendom AS8,312,72730.1%30.1%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,430,1215.2%5.2%VERDIPAPIRFONDET DNB SMB1,139,2844.1%4.1%JAKOB HATTELAND HOLDING AS1,000,0003.6%3.6%PROTECTOR FORSIKRING ASA1,000,0003.6%3.6%J.P. Morgan SE900,0003.3%3.3%HOLMEN SPESIALFOND861,5243.1%3.1%VERDIPAPIRFONDET NORDEA NORGE VERD664,3172.4%2.4%Danske Invest Norge Vekst542,0002.0%2.0%HVALER INVEST AS500,0001.8%1.8%Goldman Sachs International416,5711.5%1.5%HAUSTA INVESTOR AS400,0001.4%1.4%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%IVAR L\u00d8GE AS250,0000.9%0.9%Pictet & Cie (Europe) S.A.232,6750.8%0.8%VERDIPAPIRFONDET NORDEA AVKASTNING230,3830.8%0.8%EUROVEST AS230,0000.8%0.8%Other shareholders6,489,04323.5%23.5%Total number of shares excluding treasury shares27,598,51599.89%100.00%Treasury shares as of 31 December 202229,9830.11%Total shares issued27,628,498100.00%Shareholding by board members, management and their related parties as of 31 December 2022SharesOwnershipVoting rightsKjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Trond K. Johannessen63,0000.23%0.23%Trygve Christian Moe (Birkeland & Salvesen AS)23,9250.09%0.09%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Toril Nag3,5700.01%0.01%Save Asmervik13,2930.05%0.05%Jacob Cardell (Nominee)20,0200.07%0.07%Terje Orvedal (Illari AS)9,1430.03%0.03%Joar Krohn (Kronoko Holding AS and privatly held)99,3200.36%0.36%Dagfinn Haslebrekk7,6180.03%0.03%Arnt Roger Aasen (Aravi AS and privatly held)26,0320.09%0.09%Otto Backer Solberg18,6270.07%0.07%Rolf Helle (Xerxes AS and privatly held)41,2470.15%0.15%Erlend N\u00e6vdal8450.00%0.00%Anders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Trygve Christian Moe is employed by Embron Group AS, which is owned by J.C. Broch AS.Webstep ASA holds 29,983 treasury shares. These shares have no voting rights nor dividend rights.", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__114": { "value": "Note 17 Interest bearing loans and borrowingsNOK 000\u2019sThe Group has a NOK 110 million Revolving Credit Facility (\"RCF\") with SpareBank 1 SR-Bank ASA. The RCF may be utilised by eachmember of the Group having access to the cash pooling account system related to the RCF. The accounts included in the cashpooling structure are presented as a net figure for the Group: As cash and short term receivables if the net balance is positive, ordebt to credit institutions if the net balance is negative.The term of the RCF is two years, after which it is subject to renewal. The facility was renewed in 2021. The total payable interestrate is based on 3 months NIBOR in addition to an agreed margin of 2.25 per cent per annum. The interest calculation is based onthe net of cash and overdraft. The annual charge for the credit facility is 0.5 per cent of the granted credit. Under the RCF, theCompany has pledged security over the shares, inventory, insurance payouts and accounts receivable in Webstep AS and negativepledge over the shares in Webstep AB.Covenant conditions: Book equity for the Group shall consist of at least 30 per cent of total capital, measured quarterly. Ratio ofNIBD / EBITDA maximum 3, measured quarterly, rolling 12 months. See note 21 for further details.Webstep AB has a local revolving credit facility of SEK 5 million which was unutilised 31 December 2022.NOK'00020222021Non-current borrowingsDebt to credit institutions00Lease liabilities52,93349,507Current borrowingsDebt to credit institutions00Lease liabilities13,15312,029Total borrowings66,08761,537NOK'00020222021Booked value of assets pledged as securityShares432,119432,119Fixed assets14,44710,355Receivables145,742132,761Cash62,34046,690Total654,648621,925Other financial liabilities at amortised cost, other than interest-bearing loans and borrowingsNOK'00020222021Trade payables15,21515,745Other payables81,52472,114Other short-term debt109,41189,814Total financial liabilities272,237239,210Total current272,237239,210Total non-current00Other short-term debt mainly consists of; 1) accrued salaries for the past month, for paymentto employees in accordance with the salary model, 2) accrued holiday pay as required by law, for payment toemployees in June the following year.Changes in liabilities arising from financing activitiesChangesforeignexchangeYear ended 20211 Jan 2021Cash \ufb02owsrateOther31 Dec 2021Debt to credit institutions non-current00000Lease liabilities non-current and current (note 24)34,807(10,920)(920)38,57061,537Debt to credit institutions current00000Total liabilities from financing activities34,807(10,920)(920)38,57061,537ChangesforeignexchangeYear ended 20221 Jan 2022Cash \ufb02owsrateOther31 Dec 2022Debt to credit institutions non-current00000Lease liabilities non-current and current (note 24)61,537(11,481)(508)16,54066,086Debt to credit institutions current00000Total liabilities from financing activities61,537(11,481)(508)16,54066,086", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__118": { "value": "Note 18 Trade and other payablesNOK 000's20222021Trade and other payables15,21515,745Social Taxes and VAT81,52472,114Accrued vacation pay51,57244,470Accrued expenses including salaries payable56,89844,795Other current payables (note 19)941550Total Trade and Other Payables206,150177,674Terms and conditions of the above financial liabilities:Trade payables are non-interest bearing and are normally settled on 30-day termsSocial Taxes and VAT are normally settled six times per year ( Norway) or monthly (Sweden)Accrued vacation pay is paid in June (Norway)Salaries payable are normally settled monthlyFor explanations on the Group\u2019s liquidity risk management processes, refer to Note 21", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__117-1": { "value": "Note 18 Trade and other payablesNOK 000's20222021Trade and other payables15,21515,745Social Taxes and VAT81,52472,114Accrued vacation pay51,57244,470Accrued expenses including salaries payable56,89844,795Other current payables (note 19)941550Total Trade and Other Payables206,150177,674Terms and conditions of the above financial liabilities:Trade payables are non-interest bearing and are normally settled on 30-day termsSocial Taxes and VAT are normally settled six times per year ( Norway) or monthly (Sweden)Accrued vacation pay is paid in June (Norway)Salaries payable are normally settled monthlyFor explanations on the Group\u2019s liquidity risk management processes, refer to Note 21Note 19 Other short-term debtNOK 000's20222021Salaries payable, vacation pay, bonus etc.103,23384,967Other accrued expenses5,2374,298Received prepayments of revenues7570Other184550Total other short-term debt109,41189,814Note 24 Rent and lease agreementsThe Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the rightto control the use of an identified asset for a period of time in exchange for consideration.Group as a lesseeThe Group applies a single recognition and measurement approach for all leases, except for short-term leasesand leases of low-value assets. The Group recognises lease liabilities to make lease payments and right-of-useassets representing the right to use the underlying assets.Right-of-use assetsThe Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at orbefore the commencement date less any lease incentives received. Right-of-use assets are depreciated on astraight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:\u2022 O\ufb03ce rents 1 to 10 years\u2022 Company cars and other equipment 1 to 3 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost re\ufb02ects the exercise of a purchaseoption, depreciation is calculated using the estimated useful life of the asset.The right-of-use assets are also subject to impairment.The Group has applied it's incremental borrowing rate for all leases except where rates are implicit in the contracts for companycars.The weighted, average incremental borrowing rate applied at December 2022 is 4,70%.Right-of-use assetsThe Group's right-of-use assets are identified as o\ufb03ce rentals and rental of company cars in Sweden.Right-of-use assets,O\ufb03cesO\ufb03cesNOK'000Company carsSwedenNorwayTotalAcquisition cost 1 January 20228,34312,30851,86772,518Addition of right-of-use assets4,940014,19619,136Disposal of right-of-use assets(3,539)0(640)(4,179)Currency exchange differences(217)(291)0(507)Acquisition cost 31 December 20229,52712,01765,42386,968Accumulated depreciation 1 January 20221,5162,3476,1079,971Accumulated depreciation on disposals(1,502)00(1,502)Impairment001,7851,785Depreciation for the period1,4681,8558,33111,654Accumulated depreciation 31 December 20221,4824,20216,22321,908Carrying amount of right-of-use assets 31 December 20228,0457,81549,19965,060Acquisition cost 1 January 20215,29010,46735,05350,810Addition of right-of-use assets5,2604,67728,86438,801Disposals of right-of-use assets-1,894-2,229-12,050-16,173Currency exchange differences-313-6070-920Acquisition cost 31 December 20218,34312,30851,86772,518Accumulated depreciation 1 January 20212,1673,01210,82516,003Accumulated depreciation on disposals-1,917-2,229-11,768-15,913Depreciation for the period1,2671,5637,0509,882Accumulated depreciation 31 December 20211,5162,3466,1079,971Carrying amount of right-of-use assets 31 December 20216,8269,96145,75862,548Lower of remaining lease term or economic life1-3 years1-3 years1-5 yearsAmortisatiAmortisatiAmortisatiDepreciation methodonononExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses267Low-value assets lease expenses107Variable lease expenses in the period (not included in the lease liabilities)3,207Total lease expenses in the period related to practical expedients and variable payments3,581Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments tobe made over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any leaseincentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residualvalue guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised bythe Group and payments of penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option toterminate.Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produceinventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of leasepayments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in thelease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretionof interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is amodification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a changein an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlyingasset.The Group\u2019s lease liabilities are included in Interest-bearing loans and borrowings.Short-term leases and leases of low-value assetsThe Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., thoseleases that have a lease term of 12 months or less from the commencement date anddo not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of o\ufb03ce equipmentthat are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised asexpenses on a straight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year1,8602,54911,28815,6971-2 years2,9572,58611,22216,7652-3 years2,1292,25710,21614,6023-4 years71192810,24611,8854-5 years3425,7766,118More than 5 years10,75210,752Total undiscounted lease liabilities at 31 December 20227,6578,66259,50075,819The future cash out\ufb02ows to which the Group is potentially exposed that are not re\ufb02ected in the measurement of leaseliabilities, includes:Extension optionsTotalKongsgata 52-54, StavangerOption until 31.08.20295.264Thorm\u00f8hlensgate 47, BergenOption until 31.12.203113,551Total extension options13,556The first contract has termination clauses, with penalties, which are re\ufb02ected in the measurement of the lease liabilities if optionsare not exercised.A new contract was signed in Trondheim, Kongens gate 16, January 2 2023. The contract also replaced the current contract inTrondheim, with an expected net cash \ufb02ow of 23,4 MNOK during the contract period.CompanyO\ufb03cesO\ufb03cesSummary of the lease liabilities in the financial statementsStatement of:carsSwedenNorwayTotalTotal lease liabilities 1 January 2021Financial position5,7649,96245,81161,537New leases liabilities recognised in the yearFinancial position2,344014,19616,540Cash payments for lease liabilitiesCash \ufb02ows(1,468)(1,682)(8,331)(11,481)Currency exchange differencesFInancial position(217)(291)(508)Total lease liabilities 31 December 2021Financial position6,4237,98951,67666,087Current lease liabilitiesFinancial position1,5522,2039,39913,154Non-current lease liabilitiesFinancial position4,8715,78642,27752,933Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,641)(1,682)(8,331)(11,654)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows174174Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(208)(356)(1,803)(2,367)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(1,675)(2,038)(10,134)(13,847)Cash out\ufb02ows recognised related to practical expedients andvariable payments(3,581)Total cash out\ufb02ows for leases(17,428)The right-of-use-assets are recognised at the estimated net present value of the leasing liabilities as calculated at the date ofinitial recognition or cost according to contract.Contracts with options for extensions that would, with reasonable certainty be exercised, are estimated at net present valueincluding the optional rental period.Contracts with penalties if options for extensions not are exercised and where the certainty for exercising the options is assessedas not reasonable, the estimated or actual penalty amounts are provided for and treated as a part of the rental cost of thecontracts decomposed in depreciation, instalment and interest.In addition to the lease liabilities presented above, the Group is committed to pay variable lease payments for its o\ufb03ce leasesrelated to future in\ufb02ation/index adjustments in Norway and Sweden which is not included in the initial recognition of leaseliabilities. When the in\ufb02ation/index adjustment is known, the present value of the change to the future lease payments is added tothe lease liability and right-of-use asset.Sensitivity of assumptions to the estimatesThe estimates of the value of right-to-use assets and leasing liabilities relies on the applied interest rates and the duration andnature of the contracts. All contracts have a duration of maximum 5 years with options for extensions with one exception, acontract with 10 years duration. If extensions are viewed as reasonably probable, the extension period is embedded in thecalculation of the estimate. Changes in interest rates are regarded to have the most significant impact on the estimates eitherimpacting the incremental borrowing rate applied on o\ufb03ce rentals estimates or the leasing amount of the company cars. Asensitivity analysis of possible effects of changes to interest rates are given in the tables below:Effect on incremental borrowing ratesA test on sensitivity on interest assumptions has been performed by varying NIBOR by +/- 200 basis points (BPS) compared toapplied NIBOR 3 months of 2,45% on the Group's incremental borrowing rate applied estimating value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st2.45%4.45%0.45%Estimated value December 31st 202257,01454,28761,026Deviation from applied estimate: Amount2,727(4,012)Deviation from applied estimate: per cent4.8%(7.0%)A similar test on interest assumptions has been performed by varying the implicit rate on company car leasing contracts byadjusting the implicit interest rate by +/- 200 BPS.Changes in leasing amountCompany cars ('000 NOK)Applied+200 BPS- 200 BPSAverage implicit rate December 31st3.80%5.80%1.80%Estimated value December 31st 20228,0457,6588,480Deviation from applied estimate: Amount(387)435Deviation from applied estimate: per cent(4.8%)5.4%", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__116-1": { "value": "Note 18 Trade and other payablesNOK 000's20222021Trade and other payables15,21515,745Social Taxes and VAT81,52472,114Accrued vacation pay51,57244,470Accrued expenses including salaries payable56,89844,795Other current payables (note 19)941550Total Trade and Other Payables206,150177,674Terms and conditions of the above financial liabilities:Trade payables are non-interest bearing and are normally settled on 30-day termsSocial Taxes and VAT are normally settled six times per year ( Norway) or monthly (Sweden)Accrued vacation pay is paid in June (Norway)Salaries payable are normally settled monthlyFor explanations on the Group\u2019s liquidity risk management processes, refer to Note 21Note 19 Other short-term debtNOK 000's20222021Salaries payable, vacation pay, bonus etc.103,23384,967Other accrued expenses5,2374,298Received prepayments of revenues7570Other184550Total other short-term debt109,41189,814", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__115-1": { "value": "Note 18 Trade and other payablesNOK 000's20222021Trade and other payables15,21515,745Social Taxes and VAT81,52472,114Accrued vacation pay51,57244,470Accrued expenses including salaries payable56,89844,795Other current payables (note 19)941550Total Trade and Other Payables206,150177,674Terms and conditions of the above financial liabilities:Trade payables are non-interest bearing and are normally settled on 30-day termsSocial Taxes and VAT are normally settled six times per year ( Norway) or monthly (Sweden)Accrued vacation pay is paid in June (Norway)Salaries payable are normally settled monthlyFor explanations on the Group\u2019s liquidity risk management processes, refer to Note 21Note 19 Other short-term debtNOK 000's20222021Salaries payable, vacation pay, bonus etc.103,23384,967Other accrued expenses5,2374,298Received prepayments of revenues7570Other184550Total other short-term debt109,41189,814", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__123": { "value": "Note 20 Related party disclosureThe consolidated financial statements of the Group include:% Equity interestCountry ofNamein-corporationBusiness Address20222021Webstep ASNorwayc/o Rebel, Universitetsgata 2, 0164 Oslo100%100%Webstep ABSwedenKungsgatan 44, 111 35 Stockholm100%100%Webstep ASA is the ultimate parent of the Group, and sole owner of Webstep AS and Webstep AB. Balances and transactionsbetween the Company and its subsidiaries, which are related parties to the Company, have been eliminated in the consolidationand are not disclosed in this Note. The Group does not have any material transactions with related parties, except forremuneration to management (note 7).", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__122": { "value": "Note 20 Related party disclosureThe consolidated financial statements of the Group include:% Equity interestCountry ofNamein-corporationBusiness Address20222021Webstep ASNorwayc/o Rebel, Universitetsgata 2, 0164 Oslo100%100%Webstep ABSwedenKungsgatan 44, 111 35 Stockholm100%100%Webstep ASA is the ultimate parent of the Group, and sole owner of Webstep AS and Webstep AB. Balances and transactionsbetween the Company and its subsidiaries, which are related parties to the Company, have been eliminated in the consolidationand are not disclosed in this Note. The Group does not have any material transactions with related parties, except forremuneration to management (note 7).", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__124": { "value": "Note 21 Capital managementCapital managementFor the purpose of the Group's capital management, capital includes issued capital, treasury shares, share premium and all otherequity reserves attributable to the equity holders of the parent.The Group is financed by equity with a revolving credit facility to finance \ufb02uctuations in net working capital.The primary objective of the Group\u2019s capital management is to maximise shareholder value. The policies shall ensure that theGroup complies with externally imposed capital requirements and maintains strong credit ratings and healthy capital ratios in orderto support its business objectives. The policies shall ensure su\ufb03cient, financial \ufb02exibility. The objectives for capital managementare regarded as achieved as of December 31 2022.The Group manages its capital structure and makes adjustments to it according to changes in economic conditions and the riskcharacteristics of its activities. In order to maintain or adjust the capital structure, the Group may adjust the dividend payment toshareholders, return capital to shareholders or issue capital securities. Capital structure is reported monthly and measured,amongst other criterias, against covenants.No changes have been made to the objectives, policies and processes from the previous years. However, they are under constantreview by the board of directors.The Group monitors equity ratio (equity to total assets) and the ratio of Net Interest Bearing Debt (NIBD) to Earnings Before InterestTax Depreciation and Amortisation (EBITDA) as part of the capital management to ensure the Group is complying with currentcovenants.", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__125": { "value": "Note 22 Share based paymentsEmployee share purchase programme (\"ESPP\")An employee share purchase programme was implemented in November 2018, and similar programmes have been carried outyearly since 2018.In the fourth quarter of 2022 each of the employees in the Norwegian entities, including executive management, were invited toacquire shares in the company for an amount between NOK 5,000 and NOK 24,000 each with a discount of 15%. The sharesacquired were subject to a lock-up period of two years, and the reduced offer price re\ufb02ected the value-reducing effect of thelock-up period. 180 employees participated in the program, and the share capital was increased 15 December 2022 to issue newshares related to the ESPP.Long-term incentive programme (\"LTI\")Under the Long-term incentive programme, share options of the parent are granted to senior executives of the Group. The exerciseprice of the share options is equal to the market price of the underlying shares on the date of grant. The share options vest if thesenior executive remains employed during the vesting period.The fair value of the share options is estimated at the grant date using the Black-Scholes option pricing model, taking into accountthe terms and conditions on which the share options were granted.515,876 options were granted 18 November 2019, whereof 46,884 were terminated during 2020, 23,461 were terminated during2021 and 46 884 were terminated during 2022.The options will vest, or have vested, in the following tranches:- 111,381 options vested 18 November 2020- 111,381 options vested 18 November 2021- 175,885 options vested 18 November 2022546,000 options were granted 24 November 2020, whereof 52,000 were terminated during 2021 and 78,000 were terminated during2022.The options will vest in the following tranches:- 123,500 options vested 24 November 2021- 123,500 options vest 24 November 2022- 247,000 options vest 24 November 202398,000 options were granted 10 February 2021, the options will vest in the following tranches:- 24,500 options vested 10 February 2022- 24,500 options vest 10 February 2023- 49,000 options vest 10 February 202426,000 options were granted 26 May 2021, the options will vest in the following tranches:- 6,500 options vested 26 May 2022- 6,500 options vest 26 May 2023- 13,000 options vest 26 May 2024650,000 options were granted 25 November 2021, whereof 100,000 were terminated during 2022. The options will vest in thefollowing tranches:- 137,500 options vested 25 November 2022- 137,500 options vest 25 November 2023- 275,000 options vest 25 November 202425,000 options were granted 21 February 2022, the options will vest in the following tranches:- 6,250 options vest 21 February 2023- 6,250 options vest 21 February 2024- 12,500 options vest 21 February 2025Exercise price- Exercise price for options granted 18 November 2019 is NOK 18.20- Exercise price for options granted 24 November 2020 is NOK 19.43- Exercise price for options granted 10 February 2021 is NOK 20.12- Exercise price for options granted 26 May 2021 is NOK 29.35- Exercise price for options granted 25 November 2021 is NOK 34.94- Exercise price for options granted 21 February 2022 is NOK 34.94The potential dilution through the LTIP accounts for 155,548 shares. 169,016 of the vested shares have been exercised.The share options can be exercised up to five years after the grant date. Therefore, the contractual term of each option granted isfive years. In the event the Company is not capable of delivering shares following an exercise of options, the Company shall fulfil itsobligations through a cash-out.NOK'00020222021Expense arising from equity-settled share-based payment3,6062,878transactions related to the Long-term incentiveprogrammeSocial security tax provisions-1,1221,747Granted instruments:OptionOptionQuantity25,000774,000Contractual life*55Strike price*36.6434.78Share price*33.0035.34Expected lifetime*3.253.25Expected volatility*34.98%35.48%Risk-free interest rate*1.88%1.33%Dividend yield00Model usedBlack-ScholeBlack-ScholessFair value per instrument*7.549.55*Weighted average parameters at grant of instrumentThe expected life of the share options is according to IFRS-2, shorter than the time from grant until expiry. Due to the taxation ofoptions and \u201cnon-transferability\u201d, earlier exercise is expected . These are current expectations and is not necessarily indicative ofexercise patterns that may occur. The expected volatility re\ufb02ects the assumption that the historical volatility for the company andpeers over a period similar to the expected life of the options is indicative of future trends, which may not necessarily be theactual outcome.ExpensesThe expenses recognised for equity settled share-based payment transactions under the programs during the year are presentedin the table below:NOK'00020222021Expenses related to the Employee Share Purchase3,5692,060Programme (ESPP)Expenses related to the Long-term Incentive Programme3,6062,878(LIP)Total share based payment expenses in the period7,1754,938Social security tax expense for the period-1,1221,747Social security tax accrual for the period6581,780Number of discounted shares sold through the EmployeeShare Purchase Programme (ESPP)166,850232,103Discounted share price18.226.6NOK/shareNOK/shareWeighted average fair value of each discounted share soldthrough the ESPP99Movements during the year (LTI programme)The following table illustrate the number and weighted average exercise prices (WAEP) of, and movements in, share optionsduring the year:2022202220212021Long-term incentive programmeNumber ofWeightedNumber ofWeightedinstrumentsAverageinstrumentsAverageStrike PriceStrike PriceOutstanding at 1 January1,707,66625.281,014,99220.66Granted25,00034.94774,00034.58Exercised163,15119.415,86519.90ReleasedAdjustedPerformance AdjustedCancelledTerminated(224,884)26.07(75,461)21.85ExpiredOutstanding at 31 December1,344,6311,707,666Vested at 31 December619,13122.43340,39720.364 yearsThe weighted average remaining contractual lifeThe weighted average exercise prices for optionsoutstanding26.0426.91Total shareoptions perGrantedGrantedNumber of share optionsTitle31.12.2220222021Save AsmervikCEO296,884-198,000Liv Annike KvernelandCFO, until 31 August 2022--50,000Jacob CardellCOO Sweden112,442-50,000Arnt Roger AasenCommunications O\ufb03cer74,461-25,000Otto Backer SolbergCommunications O\ufb03cer74,461-25,000Director BusinessErlend N\u00e6vdalDevelopment25,00025,000-ManagerAnders H\u00f8ibakkOslo74,461-25,000Terje OrvedalHead of Consulting Oslo148,884-50,000Joar KrohnRegional Manager Bergen148,884-50,000Regional Manager Stavanger, until 31 JulyGeir J\u00e5thun Hindenes2022--50,000Regional ManagerDagfinn HaslebrekkTrondheim76,000-76,000The options were granted on the 18 November 2019, 24 November 2020, 10 February 2021, 26 May 2021, 25November 2021 and 21 February 2022.At 31 December 2022 a total of 489,227 remaining options to key employees have vested. During the year 109,326vested shares have been exercised by key employees, and 224,884 non-vested share options have been terminateddue to resignations of key employees.", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__126": { "value": "Note 23 Earnings per shareThe Company had one share class and a total of 27,598,515 outstanding shares (excl. treasury shares) 31 December 2022.In 2022 the Long-term Incentive Programme as described in note 22 had dilutive effects.Basic earnings per share calculations are based on the weighted average number of shares outstanding during the period, whilediluted earnings per share calculations are performed using the average number of shares and dilutive shares equivalentsoutstanding during each period.NOK'00020222021Profit for the year38,60248,495Average number of shares outstanding27,39127,000Average number of outstanding shares, fully diluted27,66327,330Basic earnings per share (NOK/Share)1.401.80Diluted earnings per share1.391.77Average number of shares outstanding27,39127,000Average dilutive effects272330Warrants--Average number of shares outstanding adjusted for dilutive effects27,66327,330Dilutive effect of options issued 18 November 201970,372189,373Dilutive effect of options issued 24 November 202069,054195,394Dilutive effect of options issued 10 February 202116,12236,828Dilutive effect of options issued 26 May 2021-2,906Dilutive effect of options issued 25 November 2021--Dilutive effect of options issued 21 February 2022-", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__130": { "value": "Note 24 Rent and lease agreementsThe Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the rightto control the use of an identified asset for a period of time in exchange for consideration.Group as a lesseeThe Group applies a single recognition and measurement approach for all leases, except for short-term leasesand leases of low-value assets. The Group recognises lease liabilities to make lease payments and right-of-useassets representing the right to use the underlying assets.Right-of-use assetsThe Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at orbefore the commencement date less any lease incentives received. Right-of-use assets are depreciated on astraight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:\u2022 O\ufb03ce rents 1 to 10 years\u2022 Company cars and other equipment 1 to 3 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost re\ufb02ects the exercise of a purchaseoption, depreciation is calculated using the estimated useful life of the asset.The right-of-use assets are also subject to impairment.The Group has applied it's incremental borrowing rate for all leases except where rates are implicit in the contracts for companycars.The weighted, average incremental borrowing rate applied at December 2022 is 4,70%.Right-of-use assetsThe Group's right-of-use assets are identified as o\ufb03ce rentals and rental of company cars in Sweden.Right-of-use assets,O\ufb03cesO\ufb03cesNOK'000Company carsSwedenNorwayTotalAcquisition cost 1 January 20228,34312,30851,86772,518Addition of right-of-use assets4,940014,19619,136Disposal of right-of-use assets(3,539)0(640)(4,179)Currency exchange differences(217)(291)0(507)Acquisition cost 31 December 20229,52712,01765,42386,968Accumulated depreciation 1 January 20221,5162,3476,1079,971Accumulated depreciation on disposals(1,502)00(1,502)Impairment001,7851,785Depreciation for the period1,4681,8558,33111,654Accumulated depreciation 31 December 20221,4824,20216,22321,908Carrying amount of right-of-use assets 31 December 20228,0457,81549,19965,060Acquisition cost 1 January 20215,29010,46735,05350,810Addition of right-of-use assets5,2604,67728,86438,801Disposals of right-of-use assets-1,894-2,229-12,050-16,173Currency exchange differences-313-6070-920Acquisition cost 31 December 20218,34312,30851,86772,518Accumulated depreciation 1 January 20212,1673,01210,82516,003Accumulated depreciation on disposals-1,917-2,229-11,768-15,913Depreciation for the period1,2671,5637,0509,882Accumulated depreciation 31 December 20211,5162,3466,1079,971Carrying amount of right-of-use assets 31 December 20216,8269,96145,75862,548Lower of remaining lease term or economic life1-3 years1-3 years1-5 yearsAmortisatiAmortisatiAmortisatiDepreciation methodonononExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses267Low-value assets lease expenses107Variable lease expenses in the period (not included in the lease liabilities)3,207Total lease expenses in the period related to practical expedients and variable payments3,581Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments tobe made over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any leaseincentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residualvalue guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised bythe Group and payments of penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option toterminate.Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produceinventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of leasepayments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in thelease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretionof interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is amodification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a changein an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlyingasset.The Group\u2019s lease liabilities are included in Interest-bearing loans and borrowings.Short-term leases and leases of low-value assetsThe Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., thoseleases that have a lease term of 12 months or less from the commencement date anddo not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of o\ufb03ce equipmentthat are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised asexpenses on a straight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year1,8602,54911,28815,6971-2 years2,9572,58611,22216,7652-3 years2,1292,25710,21614,6023-4 years71192810,24611,8854-5 years3425,7766,118More than 5 years10,75210,752Total undiscounted lease liabilities at 31 December 20227,6578,66259,50075,819The future cash out\ufb02ows to which the Group is potentially exposed that are not re\ufb02ected in the measurement of leaseliabilities, includes:Extension optionsTotalKongsgata 52-54, StavangerOption until 31.08.20295.264Thorm\u00f8hlensgate 47, BergenOption until 31.12.203113,551Total extension options13,556The first contract has termination clauses, with penalties, which are re\ufb02ected in the measurement of the lease liabilities if optionsare not exercised.A new contract was signed in Trondheim, Kongens gate 16, January 2 2023. The contract also replaced the current contract inTrondheim, with an expected net cash \ufb02ow of 23,4 MNOK during the contract period.CompanyO\ufb03cesO\ufb03cesSummary of the lease liabilities in the financial statementsStatement of:carsSwedenNorwayTotalTotal lease liabilities 1 January 2021Financial position5,7649,96245,81161,537New leases liabilities recognised in the yearFinancial position2,344014,19616,540Cash payments for lease liabilitiesCash \ufb02ows(1,468)(1,682)(8,331)(11,481)Currency exchange differencesFInancial position(217)(291)(508)Total lease liabilities 31 December 2021Financial position6,4237,98951,67666,087Current lease liabilitiesFinancial position1,5522,2039,39913,154Non-current lease liabilitiesFinancial position4,8715,78642,27752,933Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,641)(1,682)(8,331)(11,654)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows174174Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(208)(356)(1,803)(2,367)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(1,675)(2,038)(10,134)(13,847)Cash out\ufb02ows recognised related to practical expedients andvariable payments(3,581)Total cash out\ufb02ows for leases(17,428)The right-of-use-assets are recognised at the estimated net present value of the leasing liabilities as calculated at the date ofinitial recognition or cost according to contract.Contracts with options for extensions that would, with reasonable certainty be exercised, are estimated at net present valueincluding the optional rental period.Contracts with penalties if options for extensions not are exercised and where the certainty for exercising the options is assessedas not reasonable, the estimated or actual penalty amounts are provided for and treated as a part of the rental cost of thecontracts decomposed in depreciation, instalment and interest.In addition to the lease liabilities presented above, the Group is committed to pay variable lease payments for its o\ufb03ce leasesrelated to future in\ufb02ation/index adjustments in Norway and Sweden which is not included in the initial recognition of leaseliabilities. When the in\ufb02ation/index adjustment is known, the present value of the change to the future lease payments is added tothe lease liability and right-of-use asset.Sensitivity of assumptions to the estimatesThe estimates of the value of right-to-use assets and leasing liabilities relies on the applied interest rates and the duration andnature of the contracts. All contracts have a duration of maximum 5 years with options for extensions with one exception, acontract with 10 years duration. If extensions are viewed as reasonably probable, the extension period is embedded in thecalculation of the estimate. Changes in interest rates are regarded to have the most significant impact on the estimates eitherimpacting the incremental borrowing rate applied on o\ufb03ce rentals estimates or the leasing amount of the company cars. Asensitivity analysis of possible effects of changes to interest rates are given in the tables below:Effect on incremental borrowing ratesA test on sensitivity on interest assumptions has been performed by varying NIBOR by +/- 200 basis points (BPS) compared toapplied NIBOR 3 months of 2,45% on the Group's incremental borrowing rate applied estimating value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st2.45%4.45%0.45%Estimated value December 31st 202257,01454,28761,026Deviation from applied estimate: Amount2,727(4,012)Deviation from applied estimate: per cent4.8%(7.0%)A similar test on interest assumptions has been performed by varying the implicit rate on company car leasing contracts byadjusting the implicit interest rate by +/- 200 BPS.Changes in leasing amountCompany cars ('000 NOK)Applied+200 BPS- 200 BPSAverage implicit rate December 31st3.80%5.80%1.80%Estimated value December 31st 20228,0457,6588,480Deviation from applied estimate: Amount(387)435Deviation from applied estimate: per cent(4.8%)5.4%", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__129": { "value": "Note 24 Rent and lease agreementsThe Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the rightto control the use of an identified asset for a period of time in exchange for consideration.Group as a lesseeThe Group applies a single recognition and measurement approach for all leases, except for short-term leasesand leases of low-value assets. The Group recognises lease liabilities to make lease payments and right-of-useassets representing the right to use the underlying assets.Right-of-use assetsThe Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at orbefore the commencement date less any lease incentives received. Right-of-use assets are depreciated on astraight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:\u2022 O\ufb03ce rents 1 to 10 years\u2022 Company cars and other equipment 1 to 3 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost re\ufb02ects the exercise of a purchaseoption, depreciation is calculated using the estimated useful life of the asset.The right-of-use assets are also subject to impairment.The Group has applied it's incremental borrowing rate for all leases except where rates are implicit in the contracts for companycars.The weighted, average incremental borrowing rate applied at December 2022 is 4,70%.Right-of-use assetsThe Group's right-of-use assets are identified as o\ufb03ce rentals and rental of company cars in Sweden.Right-of-use assets,O\ufb03cesO\ufb03cesNOK'000Company carsSwedenNorwayTotalAcquisition cost 1 January 20228,34312,30851,86772,518Addition of right-of-use assets4,940014,19619,136Disposal of right-of-use assets(3,539)0(640)(4,179)Currency exchange differences(217)(291)0(507)Acquisition cost 31 December 20229,52712,01765,42386,968Accumulated depreciation 1 January 20221,5162,3476,1079,971Accumulated depreciation on disposals(1,502)00(1,502)Impairment001,7851,785Depreciation for the period1,4681,8558,33111,654Accumulated depreciation 31 December 20221,4824,20216,22321,908Carrying amount of right-of-use assets 31 December 20228,0457,81549,19965,060Acquisition cost 1 January 20215,29010,46735,05350,810Addition of right-of-use assets5,2604,67728,86438,801Disposals of right-of-use assets-1,894-2,229-12,050-16,173Currency exchange differences-313-6070-920Acquisition cost 31 December 20218,34312,30851,86772,518Accumulated depreciation 1 January 20212,1673,01210,82516,003Accumulated depreciation on disposals-1,917-2,229-11,768-15,913Depreciation for the period1,2671,5637,0509,882Accumulated depreciation 31 December 20211,5162,3466,1079,971Carrying amount of right-of-use assets 31 December 20216,8269,96145,75862,548Lower of remaining lease term or economic life1-3 years1-3 years1-5 yearsAmortisatiAmortisatiAmortisatiDepreciation methodonononExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses267Low-value assets lease expenses107Variable lease expenses in the period (not included in the lease liabilities)3,207Total lease expenses in the period related to practical expedients and variable payments3,581Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments tobe made over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any leaseincentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residualvalue guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised bythe Group and payments of penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option toterminate.Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produceinventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of leasepayments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in thelease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretionof interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is amodification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a changein an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlyingasset.The Group\u2019s lease liabilities are included in Interest-bearing loans and borrowings.Short-term leases and leases of low-value assetsThe Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., thoseleases that have a lease term of 12 months or less from the commencement date anddo not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of o\ufb03ce equipmentthat are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised asexpenses on a straight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year1,8602,54911,28815,6971-2 years2,9572,58611,22216,7652-3 years2,1292,25710,21614,6023-4 years71192810,24611,8854-5 years3425,7766,118More than 5 years10,75210,752Total undiscounted lease liabilities at 31 December 20227,6578,66259,50075,819The future cash out\ufb02ows to which the Group is potentially exposed that are not re\ufb02ected in the measurement of leaseliabilities, includes:Extension optionsTotalKongsgata 52-54, StavangerOption until 31.08.20295.264Thorm\u00f8hlensgate 47, BergenOption until 31.12.203113,551Total extension options13,556The first contract has termination clauses, with penalties, which are re\ufb02ected in the measurement of the lease liabilities if optionsare not exercised.A new contract was signed in Trondheim, Kongens gate 16, January 2 2023. The contract also replaced the current contract inTrondheim, with an expected net cash \ufb02ow of 23,4 MNOK during the contract period.CompanyO\ufb03cesO\ufb03cesSummary of the lease liabilities in the financial statementsStatement of:carsSwedenNorwayTotalTotal lease liabilities 1 January 2021Financial position5,7649,96245,81161,537New leases liabilities recognised in the yearFinancial position2,344014,19616,540Cash payments for lease liabilitiesCash \ufb02ows(1,468)(1,682)(8,331)(11,481)Currency exchange differencesFInancial position(217)(291)(508)Total lease liabilities 31 December 2021Financial position6,4237,98951,67666,087Current lease liabilitiesFinancial position1,5522,2039,39913,154Non-current lease liabilitiesFinancial position4,8715,78642,27752,933Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,641)(1,682)(8,331)(11,654)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows174174Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(208)(356)(1,803)(2,367)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(1,675)(2,038)(10,134)(13,847)Cash out\ufb02ows recognised related to practical expedients andvariable payments(3,581)Total cash out\ufb02ows for leases(17,428)The right-of-use-assets are recognised at the estimated net present value of the leasing liabilities as calculated at the date ofinitial recognition or cost according to contract.Contracts with options for extensions that would, with reasonable certainty be exercised, are estimated at net present valueincluding the optional rental period.Contracts with penalties if options for extensions not are exercised and where the certainty for exercising the options is assessedas not reasonable, the estimated or actual penalty amounts are provided for and treated as a part of the rental cost of thecontracts decomposed in depreciation, instalment and interest.In addition to the lease liabilities presented above, the Group is committed to pay variable lease payments for its o\ufb03ce leasesrelated to future in\ufb02ation/index adjustments in Norway and Sweden which is not included in the initial recognition of leaseliabilities. When the in\ufb02ation/index adjustment is known, the present value of the change to the future lease payments is added tothe lease liability and right-of-use asset.Sensitivity of assumptions to the estimatesThe estimates of the value of right-to-use assets and leasing liabilities relies on the applied interest rates and the duration andnature of the contracts. All contracts have a duration of maximum 5 years with options for extensions with one exception, acontract with 10 years duration. If extensions are viewed as reasonably probable, the extension period is embedded in thecalculation of the estimate. Changes in interest rates are regarded to have the most significant impact on the estimates eitherimpacting the incremental borrowing rate applied on o\ufb03ce rentals estimates or the leasing amount of the company cars. Asensitivity analysis of possible effects of changes to interest rates are given in the tables below:Effect on incremental borrowing ratesA test on sensitivity on interest assumptions has been performed by varying NIBOR by +/- 200 basis points (BPS) compared toapplied NIBOR 3 months of 2,45% on the Group's incremental borrowing rate applied estimating value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st2.45%4.45%0.45%Estimated value December 31st 202257,01454,28761,026Deviation from applied estimate: Amount2,727(4,012)Deviation from applied estimate: per cent4.8%(7.0%)A similar test on interest assumptions has been performed by varying the implicit rate on company car leasing contracts byadjusting the implicit interest rate by +/- 200 BPS.Changes in leasing amountCompany cars ('000 NOK)Applied+200 BPS- 200 BPSAverage implicit rate December 31st3.80%5.80%1.80%Estimated value December 31st 20228,0457,6588,480Deviation from applied estimate: Amount(387)435Deviation from applied estimate: per cent(4.8%)5.4%", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__127": { "value": "Note 24 Rent and lease agreementsThe Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the rightto control the use of an identified asset for a period of time in exchange for consideration.Group as a lesseeThe Group applies a single recognition and measurement approach for all leases, except for short-term leasesand leases of low-value assets. The Group recognises lease liabilities to make lease payments and right-of-useassets representing the right to use the underlying assets.Right-of-use assetsThe Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at orbefore the commencement date less any lease incentives received. Right-of-use assets are depreciated on astraight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:\u2022 O\ufb03ce rents 1 to 10 years\u2022 Company cars and other equipment 1 to 3 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost re\ufb02ects the exercise of a purchaseoption, depreciation is calculated using the estimated useful life of the asset.The right-of-use assets are also subject to impairment.The Group has applied it's incremental borrowing rate for all leases except where rates are implicit in the contracts for companycars.The weighted, average incremental borrowing rate applied at December 2022 is 4,70%.Right-of-use assetsThe Group's right-of-use assets are identified as o\ufb03ce rentals and rental of company cars in Sweden.Right-of-use assets,O\ufb03cesO\ufb03cesNOK'000Company carsSwedenNorwayTotalAcquisition cost 1 January 20228,34312,30851,86772,518Addition of right-of-use assets4,940014,19619,136Disposal of right-of-use assets(3,539)0(640)(4,179)Currency exchange differences(217)(291)0(507)Acquisition cost 31 December 20229,52712,01765,42386,968Accumulated depreciation 1 January 20221,5162,3476,1079,971Accumulated depreciation on disposals(1,502)00(1,502)Impairment001,7851,785Depreciation for the period1,4681,8558,33111,654Accumulated depreciation 31 December 20221,4824,20216,22321,908Carrying amount of right-of-use assets 31 December 20228,0457,81549,19965,060Acquisition cost 1 January 20215,29010,46735,05350,810Addition of right-of-use assets5,2604,67728,86438,801Disposals of right-of-use assets-1,894-2,229-12,050-16,173Currency exchange differences-313-6070-920Acquisition cost 31 December 20218,34312,30851,86772,518Accumulated depreciation 1 January 20212,1673,01210,82516,003Accumulated depreciation on disposals-1,917-2,229-11,768-15,913Depreciation for the period1,2671,5637,0509,882Accumulated depreciation 31 December 20211,5162,3466,1079,971Carrying amount of right-of-use assets 31 December 20216,8269,96145,75862,548Lower of remaining lease term or economic life1-3 years1-3 years1-5 yearsAmortisatiAmortisatiAmortisatiDepreciation methodonononExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses267Low-value assets lease expenses107Variable lease expenses in the period (not included in the lease liabilities)3,207Total lease expenses in the period related to practical expedients and variable payments3,581Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments tobe made over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any leaseincentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residualvalue guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised bythe Group and payments of penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option toterminate.Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produceinventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of leasepayments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in thelease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretionof interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is amodification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a changein an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlyingasset.The Group\u2019s lease liabilities are included in Interest-bearing loans and borrowings.Short-term leases and leases of low-value assetsThe Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., thoseleases that have a lease term of 12 months or less from the commencement date anddo not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of o\ufb03ce equipmentthat are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised asexpenses on a straight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year1,8602,54911,28815,6971-2 years2,9572,58611,22216,7652-3 years2,1292,25710,21614,6023-4 years71192810,24611,8854-5 years3425,7766,118More than 5 years10,75210,752Total undiscounted lease liabilities at 31 December 20227,6578,66259,50075,819The future cash out\ufb02ows to which the Group is potentially exposed that are not re\ufb02ected in the measurement of leaseliabilities, includes:Extension optionsTotalKongsgata 52-54, StavangerOption until 31.08.20295.264Thorm\u00f8hlensgate 47, BergenOption until 31.12.203113,551Total extension options13,556The first contract has termination clauses, with penalties, which are re\ufb02ected in the measurement of the lease liabilities if optionsare not exercised.A new contract was signed in Trondheim, Kongens gate 16, January 2 2023. The contract also replaced the current contract inTrondheim, with an expected net cash \ufb02ow of 23,4 MNOK during the contract period.CompanyO\ufb03cesO\ufb03cesSummary of the lease liabilities in the financial statementsStatement of:carsSwedenNorwayTotalTotal lease liabilities 1 January 2021Financial position5,7649,96245,81161,537New leases liabilities recognised in the yearFinancial position2,344014,19616,540Cash payments for lease liabilitiesCash \ufb02ows(1,468)(1,682)(8,331)(11,481)Currency exchange differencesFInancial position(217)(291)(508)Total lease liabilities 31 December 2021Financial position6,4237,98951,67666,087Current lease liabilitiesFinancial position1,5522,2039,39913,154Non-current lease liabilitiesFinancial position4,8715,78642,27752,933Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,641)(1,682)(8,331)(11,654)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows174174Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(208)(356)(1,803)(2,367)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(1,675)(2,038)(10,134)(13,847)Cash out\ufb02ows recognised related to practical expedients andvariable payments(3,581)Total cash out\ufb02ows for leases(17,428)The right-of-use-assets are recognised at the estimated net present value of the leasing liabilities as calculated at the date ofinitial recognition or cost according to contract.Contracts with options for extensions that would, with reasonable certainty be exercised, are estimated at net present valueincluding the optional rental period.Contracts with penalties if options for extensions not are exercised and where the certainty for exercising the options is assessedas not reasonable, the estimated or actual penalty amounts are provided for and treated as a part of the rental cost of thecontracts decomposed in depreciation, instalment and interest.In addition to the lease liabilities presented above, the Group is committed to pay variable lease payments for its o\ufb03ce leasesrelated to future in\ufb02ation/index adjustments in Norway and Sweden which is not included in the initial recognition of leaseliabilities. When the in\ufb02ation/index adjustment is known, the present value of the change to the future lease payments is added tothe lease liability and right-of-use asset.Sensitivity of assumptions to the estimatesThe estimates of the value of right-to-use assets and leasing liabilities relies on the applied interest rates and the duration andnature of the contracts. All contracts have a duration of maximum 5 years with options for extensions with one exception, acontract with 10 years duration. If extensions are viewed as reasonably probable, the extension period is embedded in thecalculation of the estimate. Changes in interest rates are regarded to have the most significant impact on the estimates eitherimpacting the incremental borrowing rate applied on o\ufb03ce rentals estimates or the leasing amount of the company cars. Asensitivity analysis of possible effects of changes to interest rates are given in the tables below:Effect on incremental borrowing ratesA test on sensitivity on interest assumptions has been performed by varying NIBOR by +/- 200 basis points (BPS) compared toapplied NIBOR 3 months of 2,45% on the Group's incremental borrowing rate applied estimating value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st2.45%4.45%0.45%Estimated value December 31st 202257,01454,28761,026Deviation from applied estimate: Amount2,727(4,012)Deviation from applied estimate: per cent4.8%(7.0%)A similar test on interest assumptions has been performed by varying the implicit rate on company car leasing contracts byadjusting the implicit interest rate by +/- 200 BPS.Changes in leasing amountCompany cars ('000 NOK)Applied+200 BPS- 200 BPSAverage implicit rate December 31st3.80%5.80%1.80%Estimated value December 31st 20228,0457,6588,480Deviation from applied estimate: Amount(387)435Deviation from applied estimate: per cent(4.8%)5.4%", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasePrepaymentsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__131": { "value": "Note 26 Distribution made and proposedNOK'00020222021Cash dividends on ordinary shares declared and paid:Final dividends46,48943,052Dividends per share1.70 1.60Proposed dividends on ordinary shares:Proposed dividends46,99046,489Dividends per share1.70 1.70", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s9_notes__8__132": { "value": "1.7", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "s9_notes__9__132": { "value": "1.6", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "s9_notes__9__133": { "value": "1.7", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "s9_notes__8__133": { "value": "1.7", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "s9_notes__8__134": { "value": "Note 27 Events after the balance sheet dateSince 31 December 2022 and until the date of thesefinancial statements, the board of directors is not aware of any matter orcircumstance not otherwise dealt with in this report that has significantly or may significantly affect the operations of theconsolidated entity.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } } } }