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"unit": "iso4217:NOK" } }, "s6_notes__6__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.The 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 24 April 2024 andare subject to approval by the Annual General Meeting on 16May 2024.Note 2 Accounting policiesBasis for preparationThe consolidated financial statements at 31 December 2023for Webstep ASA have been prepared in accordance with theIFRS\u00ae Accounting Standards as adopted by the EuropeanUnion.The consolidated financial statements for the year ended 31December 2023 were authorised for issue by the Board ofDirectors on 24 April 2024.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. The Group has prepared thefinancial statements on the basis that it will continue tooperate as a going concern.Basis of measurementThe consolidated financial statements have been preparedunder the historical cost convention.Basis of consolidationThe consolidated financial statements comprise the financialstatements of the Group and its subsidiaries as at 31December 2023. 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.Basis for materiality assessmentThe Group has performed a detailed analysis of the incomestatement and balance sheet, and present in the followingsections is what is considered to be the material accountingpolicies relevant for the users of the financial statements.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.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 balance sheet date are recognised directly in other comprehensive income.Segment reportingOperating segments are reported by country of operation, which currently is Norway and Sweden. The board of Webstep ASA has appointed a strategic steering committee which assesses the financial performance and position of the Group and makes strategic decisions. The steering committee, which has been identified as being the chief operating decision maker, consists of the chief executive o\ufb03cer (CEO) and the chief financial o\ufb03cer (CFO).Revenues from contracts with customersThe Group is in the business of selling IT-consultancy manhours to its customers. Revenue for IT- services are to be recognised over time because the customer simultaneously receives and consumes the benefits provided by the Group, and the Group satisfies each of its performance obligations (that is, it fulfils its promises to the customer) over time by transferring control of the promised service underlying that performance obligation to the customer. The fact that another entity would not need to re-perform the services that the Group has provided to date demonstrates that the customer simultaneously receives and consumes the benefits of the group\u2019s performance as it performs.The input method is considered to be the best method when recognising revenue over time because there is a direct relationship between the group\u2019s effort (i.e., labour hours incurred) and the transfer of service to the customer. The contracts are normally based on service agreements with hourly fees. Fixed price contracts are recognised as revenue according to the stage of completion.Estimated loss on contracts will be recognised in the income statement in its entirety in the period when it has been identified.Contract balancesContract assetsA contract asset is initially recognised for revenue earned from billable hours delivered, not yet invoiced the customer. When the billable hours are invoiced, the invoiced amount is transferred to trade receivables. Contract assets are subject to impairment assessment.Trade receivablesA receivable is recognised if an amount of consideration that is unconditional 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.TaxesThe 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.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.Goodwill is initially measured at cost (being the excess of theaggregate of the consideration transferred and the amountrecognised for non-controlling interests and any previousinterest held over the net identifiable assets acquired andliabilities assumed). After initial recognition, goodwill ismeasured at cost less any accumulated impairment losses.For the purpose of impairment testing, goodwill acquired in abusiness combination is, from the acquisition date, allocatedto each of the Group\u2019s cash-generating units that are expectedto benefit from the combination, irrespective of whether otherassets or liabilities 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. Key assumptions used todetermine the recoverable amount for the different CGUs aredisclosed and further explained in note 11.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 consideration.The 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 yearsIf 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. After the commencementdate, the amount of lease liabilities is increased to re\ufb02ect theaccretion of interest and reduced for the lease paymentsmade. In addition, the carrying amount of lease liabilities isremeasured if there is a modification, a change in the leaseterm, a change in the lease payments or a change in theassessment of an option to purchase the underlying 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 straight line basis over thelease term.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.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 transactionsThe cost of equity-settled transactions is determined by thefair value at the date when the grant is made using theBlack-Scholes model. The cost is recognised in employeebenefits expense, together with a corresponding increase inequity, over the period in which the service and theperformance conditions are fulfilled (the vesting period). 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 and cash equivalentsconsist of cash and short-term deposits, net of outstandingbank overdrafts as they are considered an integral part of theGroup\u2019s cash management. The Group\u2019s restricted cash isrelated to taxes withheld and guarantees for leases and creditsfrom suppliers.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.Changes in accounting policies and disclosuresThere have been no changes in the Group\u2019s accounting policiesand disclosures throughout the year.New and amended standards and interpretationsThe Group has assessed new standards, and concluded theydo not have material impact on the Groups reporting. TheGroup has not early adopted any new amendments.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 make judgements on which have the mostsignificant 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.Climate related mattersThe estimates and assumptions used in the preparation of theGroup Financial statement are not highly sensitive toclimate-related matters. Even though climate-related risks donot currently have a significant impact on estimates andassumptions, the Group is closely monitoring relevant changesand developments, such as new-climate related legislation, andwill consider this within estimates and assumptions when theybecome significant to the financial statements.Impairment of goodwillImpairment exists when the carrying value of an asset or cashgenerating unit exceeds its recoverable amount, which is thehigher of its fair value less costs of disposal and its value inuse. The key assumptions used to determine the recoverableamount for the different CGUs are disclosed and furtherexplained in note 11.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 directly fromits operations.The Group is exposed to market risk, credit risk, and liquidity risk. The Group\u2019s Executive Directors oversee the management of theserisks. 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. TheGroup aknowledge that there is a risk that macroeconomic factors can cause a downturn in the economy and reduced demand forthe Group's services. Macro Political turmoil have not and are not expected to have a direct impact on Webstep\u2019s business activities.The consequences of the acts of the ongoing wars are uncertain and Webstep is following the developments closely to detect anydirect or indirect consequences that may followIn addition, market risk comprise 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 moderate due to therelative stable financial situation in Norway, combined with low level of debt and strong financial position for the Group. TheGroup has no long-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has a limited interest rate risk, and variation in interest expenses due to changes inNibor would have minor impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout. Look though on the sensitivity calculations in note 24, leasing, where the changes in listed interest rates may have amaterial impact on valuation of both right of use assets and corresponding liabilities.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, with all othervariables held constant. The impact on the Group\u2019s profit before tax is due to changes in applied rate for translation of theprofit in the Swedish subsidiary, while the change in pre-tax equity is due to change in the fair value of monetary assets,intangible assets, receivables and all liabilities including current and non-current leasing liabilities and all current payables,including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreign currency changes for all other currenciesis not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202310 %256,896(10 %)(25)(6,896)202210 %6168,982(10 %)(616)(8,982)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 2023 and 2022. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20232022Trade and other receivables161,992154,871Cash and cash equivalents75,50962,340Total237,500217,211Trade 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 accordance with IFRS 9, receivables arerecognised and carried at their anticipated realisable value, which implies that a provision for a loss allowance on lifetimeexpected credit losses of the receivable is recognised. A provision for loss allowance for expected credit losses is performedat each, statutory reporting date and is based on a multifactor and holistic analysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2023Trade debtors (note 14)104,16650,6679131,764157,510Expected credit loss rate (per cent)0.95%Expected credit loss (NOK 000's)1,495As 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)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's25.10.2023Aa3SEB AB (publ)SwedenFitch08.12.2023AA-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.2023Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)98,644124,04522,75863,20938,078Trade and other payables19,81319,81319,81300Tax payable (note 10)8,8548,8548,85400Social Taxes and VAT91,87391,87391,87300Other short-term debt129,167129,167129,16700Total 31 December 2023348,351373,752272,46563,20938,0782022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease 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 2022284,115293,848233,72649,37010,752Categories of financial instrumentsNOK'00020232022Trade receivables156,015145,742Other receivables5,3489,129Cash and short-term deposits75,50962,340Financial assets measured at amortised cost236,872217,211Debt to credit institutions00Trade payables19,81315,215Other payables91,87381,524Received prepayments of revenues486757Financial liabilities measured at amortised cost112,17297,496The 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.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 does not include eliminations except Group.2023 Segments (in 000' )Norway (NOK)Sweden (NOK)EliminationsType of goods or serviceIT-related consulting services787,335112,008Subcontractors57,56229,971-3,757Resale of licenses16,3620Other353323-150Total revenue from contracts with customers861,611142,302-3,907Timing of revenue recognitionGoods and services transferred at a point in time861,259141,979-3,757Services transferred over time150--150Total revenue from contracts with customers861,409141,979-3,9072022 Segments (in 000' )Norway (NOK)Sweden (NOK)EliminationsType of goods or serviceIT-related consulting services721,050102,234Subcontractors42,98424,140-2,634Other173642-150Total revenue from contracts with customers764,207127,016-2,784Timing of revenue recognitionGoods and services transferred at a point in time764,034126,374-2,634Services transferred over time150--150Total revenue from contracts with customers764,184126,374-2,784Set out below, is the reconciliation of the revenue from contracts with customers with the amounts disclosed inthe segment information (Note 6):20232022Revenue (in 000' NOK)NorwaySwedenNorwaySwedenExternal customer845,458131,126764,034123,740Inter-segment1503,7591502,634Inter-segment adjustments and eliminations(150)(3,759)(150)(2,634)Total revenue from contracts with customers845,458131,126764,034123,740Contract balances:The following table provides information about receivables, contract assets and contract liabilities from contracts withcustomers.NOK 000'12/31/202312/31/2022Receivables which are included in Trade receivables155,381143,550Contract assets6342,192Contract liabilities486757The 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')20232022At January 12,1923,446Additions6342,192Transfers from contract assets recognised at the beginning of the period to receivables(2,192)(3,446)Impairment losses and allowances recognised in the period00At December 316342,192Contract liabilities (NOK 000')20232022At January 17570Invoiced in advance for the period486757Revenues recognised that was included in the contract liability balance at the beginning ofthe period(757)0Current contract liabilities at December 31486757Note 6 Segment informationNOK 000\u2019sThe Group provides IT related high-end consulting services. Operating segments are reported by country of operation. The CEOand CFO are responsible for allocating resources and assessing performance of the operating segments. The Group'sperformance is examined by country of operation. Segment performance is evaluated based on the profit or loss measure\"Earnings before interest and tax\" (EBIT) and is measured consistently with profit or loss in the consolidated financial statements.Assets and liabilities 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).2023NorwaySwedenElimination*TotalRevenues Oslo372,695372,695Revenues Regional O\ufb03ces414,640414,640Revenues Sweden112,008112,008Revenues Subcontractors57,56229,971(3,757)83,776Other0Total revenue (IT-related consulting services)844,897141,979(3,757)983,119Other income16,714323(150)16,887Total operating expenses less depreciation and impairment844,563140,560(3,898)981,225EBIT17,0481,41918,467EBIT margin (% of total revenue)2.0 %1.0 %1.9 %2022NorwaySwedenElimination*TotalRevenues Oslo324,651324,651Revenues Regional O\ufb03ces396,399396,399Sweden102,234102,234Subcontractors42,98424,140(2,634)64,490Other0Total revenue (IT-related consulting services)764,034126,374(2,634)887,774Other income173642(150)665Total operating expenses less depreciation and impairment716,480120,094(2,784)833,790EBIT47,7276,92254,649EBIT margin (% of total revenue)6.2 %5.5 %6.2 %*Elimination consists of hiring of consultants from Sweden to Norway and management fee fromSweden to Norway.Geographical analysis of assetsAnalysis of non-current assets by geographical location2023NorwaySwedenElimination*TotalRight-of-use assets83.114.897.9Research and development0.0Fixed assets11.90.412.3Total non-current assets operating assets 202395.115.20.0110.22022NorwaySwedenElimination*TotalRight-of-use assets49.215.965.1Research and development1.51.5Fixed assets13.90.514.4Total non-current assets operating assets 202264.616.40.081.0Asset location20232022Norway95,06064,612Sweden15,15916,395Non-current segment assets110,21981,007Other intangible assets358,192378,554Non-current financial assets22Deferred tax asset2,8882,193Trade receivables156,015145,742Other receivables5,3489,129Cash and short-term deposits75,50962,340Consolidated total assets708,172678,967Note 7 Salaries, remuneration and audit feesNOK 000'sSalaries and personnel expenses (NOK'000)20232022Salaries616,262540,411Social security costs110,63786,457Pensions24,20024,117Share-based compensation1,2343,606Other benefits and refunds31,37032,137Total salaries and personnel expenses783,703686,728Number of employees, average FTEs561512TotalRemuneration to executive managementremunerationNOK'000Base salaryVariable payOther (1)PensionRemuneration to executive management 202313,5812,81164217,034579Remuneration to executive management 202214,6423,7131,91020,265626(1) Other consists of e.g. health insurance plans, car allowance, telephone/mobile communication, share-options (NOK1.2 million in 2022) and housing allowance.(2)The Company had severance pay related to reduction of executive management (financial year 2022 and 2023) andchange of CEO (financial year 2023), in total TNOK 3.600 for 2022 and TNOK 4.030 for 2023. The table above isexclusive severance pay.(3) The hiring of the Interim CEO is facilitated through an agreement with the company Suelo AS, the costs areexcluded from the table aboveRemuneration to board members and nomination committee20232022Chair of the BoardKjetil Bakke Eriksen (Chair until 19 November 2023)418373Board memberSiw \u00d8degaard288276Board members and nomination committee from 4 May 2023Board memberKjell Magne Leirgulen (Chair from 5 January 2024)206Board memberAnna S\u00f6derblom173Board memberDavid Bjerkeli189Board memberBendik N. Blindheim189Board memberKari Mette Toverud194Nomination committeeP\u00e5l Kvernaas27Nomination committeeOscar Bakkevig13Nomination committeeToril Nag13Board members and nomination committee until 4 May 2023Board memberTrond Klethagen Johannessen95327Board memberTrygve Christian Moe97287Board memberToril Nag87258Nomination committeeBj\u00f8rn Ivar Danielsen1030Nomination committeePetter Tusvik618Total remuneration to board members and nomination committee2,0061,569Board remunerationCompensation to board members is not performance-related. Compensation to the Board is determined by the Annual GeneralMeeting, and the accrued cost for 2023 and 2022 is based on the decision made by the Annual General Meeting. Thecompensation is paid in arrears.Determination 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 and the Director Communication and marketing. Remuneration to executivemanagement is mainly fixed salary as well as performance based bonus. CEOs bonus is decided by the Remuneration Committee,CFOs bonus is based on the handling of finance and external financial communitation matters, and regional managers bonus iscalculated by pre-determined KPIs, in line with the Remuneration Policy. The accrued bonuses are included in the table above.The executive management is entitled to participate in the Long-term incentive programme as described in note 22.For details see the Remuneration Report available on www.webstep.noAudit fees *20232022Statutory audit fees1,178909Audit-related assistance194213Total fee1,3721,122* VAT is not includedNote 8 Pension costsNOK 000\u2019sAll 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 percentage of the salary, limited to 12 times the base amount (G). Thetotal pension premium charge in 2023 is NOK 24,2 million (2022: NOK NOK 24,1 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'00020232022Interest income1,709595Other finance income (including foreign exchange effects)0419Total finance income1,7091,014Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.Finance expenseNOK'00020232022Interest expense(6,312)(4,512)Other finance expense (including foreign exchange effects)(835)(877)Total finance expense(7,147)(5,389)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 loss20232022Current income tax9,60312,404Unprovided income tax charge from previous year00Deferred tax(1,019)(566)Income tax expense reported in the statement of profit or loss8,58511,838Reconciliation of tax expense and the accounting profit multiplied by the Group\u2019s tax rate for 2023 and2022:Reconciliation of tax base20232022Accounting profit before tax13,02950,274Permanent differences*26,6293,985Change in temporary differences4,1892,577Tax base for the year43,84756,836Tax payable (22%)9,64612,504Prepaid tax(748)(525)Differences in tax rates on foreign subsidiary(44)(101)Tax payable in the balance sheet8,85411,878*Permanent differences of MNOK 25 related to impairment of goodwill, asdescribed in note 11, which is non tax deductibleDeferred tax20232022Fixed assets4,0832,003Receivables1,495988Provisions, not yet tax deductible9,4968,529Statutory tax provisions in Sweden(8,013)(8,593)Total7,0612,927Net deferred tax asset/(liability) (22%)1,553644Effect of difference in tax rates Sweden (20,6%/22%)6499Total adjusted for differences in tax rates1,617742Re\ufb02ected in the statement of financial position as follows:Deferred tax assets2,8882,193Deferred tax liabilities(1,271)(1,451)Deferred tax liabilities, net1,617742Effective tax rate:Expected income tax2,86611,060Permanent differences5,858877Effect of change in tax rate and other(141)(99)Income tax expense*8,58411,838* Income tax expense in relation to income before tax65.9 %23.5 %Note 11 Intangible assets and goodwillCash generating unitNOK'00020232022Norway313,575313,575Sweden44,61764,964358,192378,539Cost,NOK 000'sGoodwill NorwayGoodwill SwedenR&DTotalAt 1 January 2022313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Additions0000Disposals0000Exchange adjustment04,65304,653At 31 December 2023313,57569,6177,573390,765Depreciation and impairmentAt January 1 202200(4,543)(4,543)Impairment0000Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Impairment(25,000)00Depreciation charge for the year00(1,515)(1,515)At 31 December 20230(25,000)(7,573)(32,573)Net book valueAt 31 December 2022313,57564,9641,515380,054At 31 December 2023313,57544,617(0)358,192Useful 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 NOK58.6 million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment or when there areindications of impairment.The impairment test is conducted for each cash generating unit, by evaluating the present value of future cash \ufb02ows, based oncash \ufb02ow projections. The recoverable amount is set to the estimated value in use. The value in use is the net present value ofthe estimated cash \ufb02ow before tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing key assumptions:\u2022 Discount rates\u2022 EBITDA-margin\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast period.The calculated weighted average cost of capital (WACC) after tax (before tax) for Norway was 10.5 % (13.4 %) and 9.3% (11.7 %)for Sweden. It has been assessed that there is no significant difference in outcome by using pre- or post-tax calculations. Hence,the impairment test are performed based on an after-tax basis. The risk free interest rate was 3.3% for Norway and 2.0 % forSweden. The risk premium is calculated based on market statistics for comparable companies. The cash \ufb02ow forecast takes intoaccount both historical results, expected future growth rates, and market conditions. These budgets and forecast calculationsgenerally cover a period of five years. For Norway and Sweden, the underlying model calculates annual cash \ufb02ows perdepartment, based on periodised employee development, utilisation rate, expected trend in hourly rate, sales / management /overhead changes, wage growth and cost growth. The annualised compound growth rate over the next 4 year period is 2% foreach CGUs. The terminal growth rate used in calculating the terminal value is 2%.The EBITDA-margin in the Norway CGU is expected to be in line with historical levels, while the EBITDA-margin for the SwedenCGU is expected to be lower. The challenges in the Swedish market persists with prolonged sales cycles and reduced marketdemand. As a consequence, Webstep Sweden has during the second half year of 2023 reduced consultants in areas with lowermarket demand and downsized the number of non-billable FTEs. The Group expects the situation to have implications on theGroup's business activities.The impairment model has significant headroom between estimated value and carrying amount for the Norway CGU, butindicates impairment of NOK 25.0 million for the Sweden CGU.A sensitivity analysis was performed for the Sweden CGU where the following changes in key assumptions resulted in anadditional impairment of goodwill amounting to NOK 15.0 million.Original assumptionSensitivity analysisDiscount rates9.3%9.5%EBITDA-margin (terminal-value)3.6%2.6%Growth rate (terminal value)2.0%1.5%The potential changes in key assumptions are considered reasonably possible, due to the negative trend in theSwedish IT consultancy marked.Based on the impairment tests performed, net impairment losses recognised in 2023 amounted to NOK 25.0 millionrelated to Goodwill Sweden.The impairment of Goodwill Sweden is a result of the challenging Swedish ITconsultancy market. There are no indications that impairment is required for Norway.Note 12 Fixed assetsEquipment,Cost,fixtures andRight-of-useNOK'000furnitureassetsTotalAt 1 January 202233,77972,520106,299Additions10,72419,13629,860Disposals0(4,179)(4,179)Exchange adjustment0(508)(508)Cost at 31 December 202244,50386,968131,471Cost at 1 January 202344,50386,968131,471Additions5,48145,09950,580Disposals0(1,934)(1,934)Exchange adjustment01,2321,232Cost at 31 December 202349,984131,365181,349Depreciation and impairmentAt 1 January 2022(23,423)(9,971)(33,395)Disposals01,5000Impairment0(1,785)0Depreciation charge for the year(6,626)(11,654)(18,280)Exchange adjustment(7)00Other000At 31 December 2022(30,056)(21,908)(51,965)Disposals01,4671,467Impairment000Depreciation charge for the year(7,656)(13,014)(20,670)Exchange adjustment36036Other000At 31 December 2023(37,676)(33,455)(71,132)Net book valueAt 31 December 202214,44765,06079,507At 31 December 202312,30997,910110,220Useful life3 - 5 year1-10 yearDepreciation methodStraight lineAmortisationNote 13 Financial assets \u2013 non-current vs currentThe only non-current, financial asset is a deposit.Financial assets,NOK'00020232022Other long term deposit22Total22Note 14 Trade and other receivablesTrade and other receivablesNOK'00020232022Trade receivables - net of related parties157,510146,730Provision for bad debt(1,495)(988)Trade Receivables net of provision156,015145,742Prepayments and other receivables5,3489,129Receivables from related parties00Payables to related parties00Total trade receivables and prepayments161,363154,871Of which long-term receivables from related parties00Short-term Receivables and prepayments161,363154,871Specification of receivablesNOK'00020232022Trade receivables155,464143,550Accrued income(78)2,192Other receivables00Trade and other receivables155,386145,742Prepaid costs5,2398,222Prepaid public duty debt110142Prepaid rent628765Prepayments5,9779,129Total receivables and prepayments161,363154,871Due dates and fair value of trade and otherreceivablesNOK'00020232022Due within one year*)161,363154,871After one year **)00Fair Value161,363154,871*) 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 fair value.The group has a bad debt provision of NOK 1,495 million in 2023, increased from NOK 0.99 million in 202230-60NOK'000TotalNot due<30 daysdays>60 days2023157,510104,16650,6679131,7642022146,73099,95742,2021,1743,395Note 15 Cash and short-term depositsCash and Cash Equivalents,NOK'00020232022Cash in bank75,50962,340Cash equivalents00Total Cash and Cash Equivalents75,50962,340Utilised bank overdraft00Net Cash and Cash Equivalents/Bank overdraft75,50962,340Of which Restricted Cash:Guarantees for leases and credits from suppliers1,2171,116Taxes withheld705581Other restricted cash00Total Restricted Cash1,9221,697For 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.20232022No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,67127,628No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,62827,322Issued42306At 31 December27,67127,628No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(30)(54)Sale of treasury shares24At 31 December(30)(30)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 2022/202110,28416,212Foreign currency translation(2,589)(5,929)At 31 December 2022/20217,69510,284Foreign currency translation6,280(2,589)At 31 December 2023/202213,9767,69520232022Share capital27,67127,628Treasury shares(30)(29)Share premium179,938179,190Retained earnings137,627178,918Non-controlling interest00Shareholders equity inclusive currency translation359,181395,990Shareholder nameSharesOwnershipVoting rightsEMBRO EIENDOM AS8,312,72730.0%30.1%HVALER INVEST AS2,002,1527.2%7.2%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,535,2585.5%5.6%PROTECTOR FORSIKRING ASA1,443,8605.2%5.2%VPF FONDSFINANS UTBYTTE1,100,0004.0%4.0%JAKOB HATTELAND HOLDING AS1,000,0003.6%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%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%EUROVEST AS280,7071.0%1.0%Bank Pictet & Cie (Europe) AG232,6750.8%0.8%MP PENSJON PK224,0000.8%0.8%LEROLI AS197,2810.7%0.7%Saxo Bank A/S155,0740.6%0.6%BUGS AS126,7360.5%0.5%Other shareholders5,062,79518.3%18.3%Total number of shares excluding treasury shares27,640,97699.89%100.00%Treasury shares as of 31 December 202329,9830.1%Total shares issued27,670,959100.00%Shareholding by board members, management and their related parties as of 31 December 2023SharesOwnershipVoting rightsAnders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Arnt Roger Aasen (Aravi AS and privately held)26,0320.09%0.09%Dagfinn Haslebrekk7,6180.03%0.03%David Bjerkeli (Fjellhammer Invest AS)11,5000.04%0.04%Erlend N\u00e6vdal8450.00%0.00%Ida Amalie Oma8450.00%0.00%Jacob Cardell (Nominee)20,0200.07%0.07%Joar Krohn (Kronoko Holding AS and privately held)99,3200.36%0.36%Kjell Magne Leirgulen (KML Invest AS)25,0000.09%0.09%Kjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Kjell Magne Leirgulen is employed by Embron Group ASDavid Bjerkeli is employed by Hvaler Invest ASWebstep ASA holds 29,983 treasury shares. These shares have no voting rights nor dividend rights.Note 17 Interest bearing loans and borrowingsThe 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 cash poolingstructure are presented as a net figure for the Group: As cash and short term receivables if the net balance is positive, or debt to creditinstitutions 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 interest rate isbased on 3 months NIBOR in addition to an agreed margin of 2.25 per cent per annum. The interest calculation is based on the net ofcash and overdraft. The annual charge for the credit facility is 0.5 per cent of the granted credit. Under the RCF, the Company has pledgedsecurity over the shares, inventory, insurance payouts and accounts receivable in Webstep AS and negative pledge over the shares inWebstep AB.Covenant conditions: Book equity for the Group shall consist of at least 30 per cent of total capital, measured quarterly. Ratio of NIBD /EBITDA maximum 3, measured quarterly, rolling 12 months.Webstep AB has a local revolving credit facility of SEK 5 million which was unutilised 31 December 2023.NOK'00020232022Non-current borrowingsDebt to credit institutions00Lease liabilities80,32252,933Current borrowingsDebt to credit institutions00Lease liabilities17,69313,153Total borrowings98,01666,087NOK'00020232022Booked value of assets pledged as securityShares407,119432,119Fixed assets12,30914,447Receivables156,015145,742Cash75,50962,340Total650,952654,648Other financial liabilities at amortised cost, other than interest-bearing loans and borrowingsNOK'00020232022Trade payables19,81315,215Social Taxes and VAT91,87381,524Received prepayments of revenues486757Total financial liabilities210,188163,583Total current210,188163,583Total non-current00Other short-term debt mainly consists of;1) accrued salaries for the past month, for payment to employees in accordance withthe salary model,2) accrued holiday pay as required by law, for payment to employees in June thefollowing year.Changes in liabilities arising from financing activitiesChangesforeignexchangeYear ended 20221 Jan 2022Cash \ufb02owsrateOther31 Dec 2022Debt to credit institutions non-current00000Lease liabilities non-current and current (note 24)61,537(11,481)(508)16,54066,088Debt to credit institutions current00000Total liabilities from financing activities61,537(11,481)(508)16,54066,088ChangesforeignexchangeYear ended 20231 Jan 2023Cash \ufb02owsrateOther31 Dec 2023Debt to credit institutions non-current00000Lease liabilities non-current and current (note 24)66,088(12,887)1,23243,58498,015Debt to credit institutions current00000Total liabilities from financing activities66,088(12,887)1,23243,58498,015Note 18 Trade and other payablesNOK 000's20232022Trade and other payables19,81315,215Social Taxes and VAT91,87381,524Accrued vacation pay (note 19)58,62351,572Accrued expenses including salaries payable (note 19)69,99456,898Other current payables (note 19)550941Total Trade and Other Payables240,853206,150Terms and conditions of the above 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, see Note 21Note 19 Other short-term debtNOK 000's20232022Salaries payable, vacation pay, bonus etc.123,851103,233Other accrued expenses4,7665,237Received prepayments of revenues486757Other64184Total other short-term debt129,167109,411Note 20 Related party disclosureThe consolidated financial statements of the Group include:% Equity interestCountry ofNamein-corporationBusiness Address20232022Webstep 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 for remunerationto management (see note 7 in the Annual Report and the Remuneration Report available on www.webstep.no).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 inorder to support its business objectives. The policies shall ensure su\ufb03cient, financial \ufb02exibility. The objectives for capitalmanagement are regarded as achieved as of 31 December 2023.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 BeforeInterest Tax Depreciation and Amortisation (EBITDA) as part of the capital management to ensure the Group is complying withcurrent covenants.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 between 2018 and 2022.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.Long-term incentive programme (\u201cLTI\u201d)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, 78,000 were terminated during2022 and 13,000 were terminated during 2023.The options will vest, or have vested, in the following tranches:- 123,500 options vested 24 November 2021- 97,500 options vest 24 November 2022- 182,000 options vest 24 November 202398,000 options were granted 10 February 2021, whereof 49,000 were terminated during 2023.The options will vest, or have vested, in the following tranches:- 24,500 options vested 10 February 2022- 24,500 options vest 10 February 202326,000 options were granted 26 May 2021, the options will vest, or have vested, 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 and 75,000 were terminatedduring 2023.The options will vest, or have vested, in the following tranches:- 131,250 options vested 25 November 2022- 131,250 options vest 25 November 2023- 212,500 options vest 25 November 202425,000 options were granted 21 February 2022.The options will vest, or have vested, 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 131,740 shares. 42,461 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'00020232022Expense arising from equity-settled share-based payment1,2343,606transactions related to the Long-term incentiveprogrammeSocial security tax provisions-187-1,122Granted instruments:OptionOptionQuantity0,0025,000Contractual life*55Strike price*036.64Share price*0.0033.00Expected lifetime*03.25Expected volatility*0.00%34.98%Risk-free interest rate*0.00%1.88%Dividend yield00Model usedBlack-ScholBlack-ScholesesFair value per instrument*07.54*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 the actualoutcome.ExpensesThe expenses recognised for equity settled share-based payment transactions under the programs during the year are presentedin the table below:NOK'00020232022Expenses related to the Employee Share Purchase03,569Programme (ESPP)Expenses related to the Long-term Incentive Programme1,2343,606(LTI)Total share based payment expenses in the period1,2347,175Social security tax expense for the period-187-1,122Social security tax accrual for the period71658Number of discounted shares sold through the EmployeeShare Purchase Programme (ESPP)0232,103Discounted share price026.6 NOK/shareWeighted average fair value of each discounted sharesold through the ESPP09Movements 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:2023202320222022Long-term incentive programmeNumber ofWeighted AverageNumber ofWeighted AverageinstrumentsStrike PriceinstrumentsStrike PriceOutstanding at 1 January1,344,63124.441,707,66625.28Granted00.0025,00034.94Exercised42,46118.34163,15119.41ReleasedAdjustedPerformance AdjustedCancelledTerminated(137,000)26.94(224,884)26.07Expired0.00Outstanding at 31 December1,165,1701,344,631Vested at 31 December920,92022.09619,13122.43The weighted average remaining contractual lifeThe weighted average exercise prices for options24.36outstanding26.04Total shareoptions perGrantedNumber of share optionsTitle31.12.23Granted 20232022Erlend N\u00e6vdalDirector Business Development, until December 202325,000-25,000The options were granted on the 21 February 2022.At 31 December 2023 a total of 350,500 remaining options to key employees have vested. During the year 42,461vested shares have been exercised by key employees, and 137,000 non-vested share options have been terminated dueto resignations of key employees.Note 23 Earnings per shareNOK'00020232022Profit for the year4,44438,436Average number of shares outstanding27,63427,391Average number of outstanding shares, fully diluted27,86227,663Basic earnings per share (NOK/Share)0.161.40Diluted earnings per share0.161.39Average number of shares outstanding27,63427,391Average dilutive effects228272Warrants--Average number of shares outstanding adjusted for dilutive effects27,86227,663Dilutive effect of options issued 18 November 201959,94770,372Dilutive effect of options issued 24 November 202057,84169,054Dilutive effect of options issued 10 February 202113,95116,122Dilutive effect of options issued 26 May 2021-Dilutive 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 purchase option,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 its incremental borrowing rate for all leases except where rates are implicit in the contracts for company cars.The weighted, average incremental borrowing rate applied at December 2023 is 7,0%.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 20239,52712,01765,42386,968Addition of right-of-use assets2,175039,63341,808Disposal of right-of-use assets(1,934)00(1,934)Adjustment of estimates01,2662,0253,291Currency exchange differences56466801,232Acquisition cost 31 December 202310,33213,951107,081131,365Accumulated depreciation 1 January 20231,4834,20116,22421,908Accumulated depreciation on disposals(451)0(1,017)(1,468)Impairment0000Depreciation for the period1,7432,5228,74913,014Accumulated depreciation 31 December 20232,7756,72323,95633,454Carrying amount of right-of-use assets 31 December 20237,5577,22783,12497,910Acquisition 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 20228,0457,81549,19965,060Lower of remaining lease term or economic life1-3 years1-5 years1-5 yearsDepreciation methodAmortisationAmortisationAmortisationExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses398Low-value assets lease expenses54Variable lease expenses in the period (not included in the lease liabilities)5,145Total lease expenses in the period related to practical expedients and variable payments5,597Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to bemade over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any lease incentivesreceivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees.The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and paymentsof penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option to terminate.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 the leaseis not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretion of interestand reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, achange in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rateused to determine such lease payments) or a change in theassessment of an option to purchase the underlying asset.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., those leasesthat 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 equipment thatare considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised as expenses on astraight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year3,2793,32516,15422,7581-2 years2,4692,95915,11220,5402-3 years1,8391,23415,30718,3803-4 years55313,60014,1534-5 years010,13610,136More than 5 years38,07838,078Total undiscounted lease liabilities at 31 December 20237,5878,071108,387124,045The 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 andwhen it is reasonably certain that the option to terminate will be exercisedA 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 2023Financial position7,4657,68850,95466,107New leases liabilities recognised in the yearFinancial position1,268039,63340,901Adjustment of estimatesFinancial position01,2662,0253,291Prepaid leasing expensesFinancial position(632)00(632)Cash payments for lease liabilitiesCash \ufb02ows(1,743)(2,395)(8,749)(12,887)Currency exchange differencesFInancial position56466801,232Total lease liabilities 31 December 2023Financial position6,9227,22783,86398,012Current lease liabilitiesFinancial position2,9022,96611,82617,694Non-current lease liabilitiesFinancial position4,0248,91767,37780,318Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,869)(2,395)(8,749)(13,013)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows127127Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(408)(416)(3,147)(3,971)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(2,150)(2,811)(11,896)(16,856)Cash out\ufb02ows recognised related to practical expedients andvariable payments(5,597)Total cash out\ufb02ows for leases(22,453)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.See note 17 for further details on non-current and current liabilities.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 as having 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 to the estimated value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st4.75%6.75%2.75%Estimated value December 31st 202390,35284,58596,762Deviation from applied estimate: Amount5,767(6,410)Deviation from applied estimate: Percent6.4%(7.1%)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 31st4,5%6,5%2,5%Estimated value December 31st 20237,5587,1717,993Deviation from applied estimate: Amount(387)435Deviation from applied estimate: Percent(5.1%)5.8%Note 25 Contingencies and legal claimsThe Group has not been involved in any legal or financial disputes in 2023, where an adverse outcome is considered more likelythan remote.Note 26 Distribution made and proposedNOK'00020232022Cash dividends on ordinary shares declared and paid:Final dividends27,64146,489Dividends per share1.001.70Proposed dividends on ordinary shares:Proposed dividends27,64146,990Dividends per share1.001.70Note 27 Events after the balance sheet dateSince 31 December 2023 and until the date of these financial 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__14": { "value": "Webstep ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__13": { "value": "Webstep ASA", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__6": { "value": "Webstep ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__8": { "value": "limited liability company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__9": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__7": { "value": "Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__10": { "value": "Rebel, Universitetsgata 2, 0164 Oslo, Norway", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__11": { "value": "Norway and Sweden", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__12": { "value": "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.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__15": { "value": "These consolidated financial statements have been approvedfor issuance by the Board of Directors on 24 April 2024 andare subject to approval by the Annual General Meeting on 16May 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__16": { "value": "Note 2 Accounting policiesBasis for preparationThe consolidated financial statements at 31 December 2023for Webstep ASA have been prepared in accordance with theIFRS\u00ae Accounting Standards as adopted by the EuropeanUnion.The consolidated financial statements for the year ended 31December 2023 were authorised for issue by the Board ofDirectors on 24 April 2024.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. The Group has prepared thefinancial statements on the basis that it will continue tooperate as a going concern.Basis of measurementThe consolidated financial statements have been preparedunder the historical cost convention.Basis of consolidationThe consolidated financial statements comprise the financialstatements of the Group and its subsidiaries as at 31December 2023. 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.Basis for materiality assessmentThe Group has performed a detailed analysis of the incomestatement and balance sheet, and present in the followingsections is what is considered to be the material accountingpolicies relevant for the users of the financial statements.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.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 balance sheet date are recognised directly in other comprehensive income.Segment reportingOperating segments are reported by country of operation, which currently is Norway and Sweden. The board of Webstep ASA has appointed a strategic steering committee which assesses the financial performance and position of the Group and makes strategic decisions. The steering committee, which has been identified as being the chief operating decision maker, consists of the chief executive o\ufb03cer (CEO) and the chief financial o\ufb03cer (CFO).Revenues from contracts with customersThe Group is in the business of selling IT-consultancy manhours to its customers. Revenue for IT- services are to be recognised over time because the customer simultaneously receives and consumes the benefits provided by the Group, and the Group satisfies each of its performance obligations (that is, it fulfils its promises to the customer) over time by transferring control of the promised service underlying that performance obligation to the customer. The fact that another entity would not need to re-perform the services that the Group has provided to date demonstrates that the customer simultaneously receives and consumes the benefits of the group\u2019s performance as it performs.The input method is considered to be the best method when recognising revenue over time because there is a direct relationship between the group\u2019s effort (i.e., labour hours incurred) and the transfer of service to the customer. The contracts are normally based on service agreements with hourly fees. Fixed price contracts are recognised as revenue according to the stage of completion.Estimated loss on contracts will be recognised in the income statement in its entirety in the period when it has been identified.Contract balancesContract assetsA contract asset is initially recognised for revenue earned from billable hours delivered, not yet invoiced the customer. When the billable hours are invoiced, the invoiced amount is transferred to trade receivables. Contract assets are subject to impairment assessment.Trade receivablesA receivable is recognised if an amount of consideration that is unconditional 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.TaxesThe 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.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.Goodwill is initially measured at cost (being the excess of theaggregate of the consideration transferred and the amountrecognised for non-controlling interests and any previousinterest held over the net identifiable assets acquired andliabilities assumed). After initial recognition, goodwill ismeasured at cost less any accumulated impairment losses.For the purpose of impairment testing, goodwill acquired in abusiness combination is, from the acquisition date, allocatedto each of the Group\u2019s cash-generating units that are expectedto benefit from the combination, irrespective of whether otherassets or liabilities 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. Key assumptions used todetermine the recoverable amount for the different CGUs aredisclosed and further explained in note 11.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 consideration.The 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 yearsIf 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. After the commencementdate, the amount of lease liabilities is increased to re\ufb02ect theaccretion of interest and reduced for the lease paymentsmade. In addition, the carrying amount of lease liabilities isremeasured if there is a modification, a change in the leaseterm, a change in the lease payments or a change in theassessment of an option to purchase the underlying 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 straight line basis over thelease term.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.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 transactionsThe cost of equity-settled transactions is determined by thefair value at the date when the grant is made using theBlack-Scholes model. The cost is recognised in employeebenefits expense, together with a corresponding increase inequity, over the period in which the service and theperformance conditions are fulfilled (the vesting period). 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 and cash equivalentsconsist of cash and short-term deposits, net of outstandingbank overdrafts as they are considered an integral part of theGroup\u2019s cash management. The Group\u2019s restricted cash isrelated to taxes withheld and guarantees for leases and creditsfrom suppliers.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.Changes in accounting policies and disclosuresThere have been no changes in the Group\u2019s accounting policiesand disclosures throughout the year.New and amended standards and interpretationsThe Group has assessed new standards, and concluded theydo not have material impact on the Groups reporting. TheGroup has not early adopted any new amendments.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__18": { "value": "Basis for preparationThe consolidated financial statements at 31 December 2023for Webstep ASA have been prepared in accordance with theIFRS\u00ae Accounting Standards as adopted by the EuropeanUnion.The consolidated financial statements for the year ended 31December 2023 were authorised for issue by the Board ofDirectors on 24 April 2024.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. The Group has prepared thefinancial statements on the basis that it will continue tooperate as a going concern.Basis of measurementThe consolidated financial statements have been preparedunder the historical cost convention.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__17": { "value": "Basis for preparationThe consolidated financial statements at 31 December 2023for Webstep ASA have been prepared in accordance with theIFRS\u00ae Accounting Standards as adopted by the EuropeanUnion.The consolidated financial statements for the year ended 31December 2023 were authorised for issue by the Board ofDirectors on 24 April 2024.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. The Group has prepared thefinancial statements on the basis that it will continue tooperate as a going concern.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__19": { "value": "The Group has prepared thefinancial statements on the basis that it will continue tooperate as a going concern.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__20": { "value": "Basis of consolidationThe consolidated financial statements comprise the financialstatements of the Group and its subsidiaries as at 31December 2023. 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__22": { "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.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 balance sheet date are recognised directly in other comprehensive income.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__21": { "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.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 balance sheet date are recognised directly in other comprehensive income.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__23": { "value": "Segment reportingOperating segments are reported by country of operation, which currently is Norway and Sweden. The board of Webstep ASA has appointed a strategic steering committee which assesses the financial performance and position of the Group and makes strategic decisions. The steering committee, which has been identified as being the chief operating decision maker, consists of the chief executive o\ufb03cer (CEO) and the chief financial o\ufb03cer (CFO).", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__24-1": { "value": "Revenues from contracts with customersThe Group is in the business of selling IT-consultancy manhours to its customers. Revenue for IT- services are to be recognised over time because the customer simultaneously receives and consumes the benefits provided by the Group, and the Group satisfies each of its performance obligations (that is, it fulfils its promises to the customer) over time by transferring control of the promised service underlying that performance obligation to the customer. The fact that another entity would not need to re-perform the services that the Group has provided to date demonstrates that the customer simultaneously receives and consumes the benefits of the group\u2019s performance as it performs.The input method is considered to be the best method when recognising revenue over time because there is a direct relationship between the group\u2019s effort (i.e., labour hours incurred) and the transfer of service to the customer. The contracts are normally based on service agreements with hourly fees. Fixed price contracts are recognised as revenue according to the stage of completion.Estimated loss on contracts will be recognised in the income statement in its entirety in the period when it has been identified.Contract balancesContract assetsA contract asset is initially recognised for revenue earned from billable hours delivered, not yet invoiced the customer. When the billable hours are invoiced, the invoiced amount is transferred to trade receivables. Contract assets are subject to impairment 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__26": { "value": "Trade receivablesA receivable is recognised if an amount of consideration that is unconditional is due from the customer.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__28": { "value": "TaxesThe 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__27": { "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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__32": { "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.Goodwill is initially measured at cost (being the excess of theaggregate of the consideration transferred and the amountrecognised for non-controlling interests and any previousinterest held over the net identifiable assets acquired andliabilities assumed). After initial recognition, goodwill ismeasured at cost less any accumulated impairment losses.For the purpose of impairment testing, goodwill acquired in abusiness combination is, from the acquisition date, allocatedto each of the Group\u2019s cash-generating units that are expectedto benefit from the combination, irrespective of whether otherassets or liabilities 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. Key assumptions used todetermine the recoverable amount for the different CGUs aredisclosed and further explained in note 11.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__31": { "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.Goodwill is initially measured at cost (being the excess of theaggregate of the consideration transferred and the amountrecognised for non-controlling interests and any previousinterest held over the net identifiable assets acquired andliabilities assumed). After initial recognition, goodwill ismeasured at cost less any accumulated impairment losses.For the purpose of impairment testing, goodwill acquired in abusiness combination is, from the acquisition date, allocatedto each of the Group\u2019s cash-generating units that are expectedto benefit from the combination, irrespective of whether otherassets or liabilities 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. Key assumptions used todetermine the recoverable amount for the different CGUs aredisclosed and further explained in note 11.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__30": { "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.Goodwill is initially measured at cost (being the excess of theaggregate of the consideration transferred and the amountrecognised for non-controlling interests and any previousinterest held over the net identifiable assets acquired andliabilities assumed). After initial recognition, goodwill ismeasured at cost less any accumulated impairment losses.For the purpose of impairment testing, goodwill acquired in abusiness combination is, from the acquisition date, allocatedto each of the Group\u2019s cash-generating units that are expectedto benefit from the combination, irrespective of whether otherassets or liabilities 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. Key assumptions used todetermine the recoverable amount for the different CGUs aredisclosed and further explained in note 11.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__29": { "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.Goodwill is initially measured at cost (being the excess of theaggregate of the consideration transferred and the amountrecognised for non-controlling interests and any previousinterest held over the net identifiable assets acquired andliabilities assumed). After initial recognition, goodwill ismeasured at cost less any accumulated impairment losses.For the purpose of impairment testing, goodwill acquired in abusiness combination is, from the acquisition date, allocatedto each of the Group\u2019s cash-generating units that are expectedto benefit from the combination, irrespective of whether otherassets or liabilities 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. Key assumptions used todetermine the recoverable amount for the different CGUs aredisclosed and further explained in note 11.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__34": { "value": "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. Key assumptions used todetermine the recoverable amount for the different CGUs aredisclosed and further explained in note 11.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__33": { "value": "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. Key assumptions used todetermine the recoverable amount for the different CGUs aredisclosed and further explained in note 11.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__35": { "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 consideration.The 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 yearsIf 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. After the commencementdate, the amount of lease liabilities is increased to re\ufb02ect theaccretion of interest and reduced for the lease paymentsmade. In addition, the carrying amount of lease liabilities isremeasured if there is a modification, a change in the leaseterm, a change in the lease payments or a change in theassessment of an option to purchase the underlying 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 straight line basis over thelease term.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__37": { "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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__36": { "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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__38": { "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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__39": { "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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__40": { "value": "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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__41": { "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 transactionsThe cost of equity-settled transactions is determined by thefair value at the date when the grant is made using theBlack-Scholes model. The cost is recognised in employeebenefits expense, together with a corresponding increase inequity, over the period in which the service and theperformance conditions are fulfilled (the vesting period). 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__42": { "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 and cash equivalentsconsist of cash and short-term deposits, net of outstandingbank overdrafts as they are considered an integral part of theGroup\u2019s cash management. The Group\u2019s restricted cash isrelated to taxes withheld and guarantees for leases and creditsfrom suppliers.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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__44": { "value": "Changes in accounting policies and disclosuresThere have been no changes in the Group\u2019s accounting policiesand disclosures throughout the year.New and amended standards and interpretationsThe Group has assessed new standards, and concluded theydo not have material impact on the Groups reporting. TheGroup has not early adopted any new amendments.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__43": { "value": "Changes in accounting policies and disclosuresThere have been no changes in the Group\u2019s accounting policiesand disclosures throughout the year.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__45-1": { "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 make judgements on which have the mostsignificant 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.Climate related mattersThe estimates and assumptions used in the preparation of theGroup Financial statement are not highly sensitive toclimate-related matters. Even though climate-related risks donot currently have a significant impact on estimates andassumptions, the Group is closely monitoring relevant changesand developments, such as new-climate related legislation, andwill consider this within estimates and assumptions when theybecome significant to the financial statements.Impairment of goodwillImpairment exists when the carrying value of an asset or cashgenerating unit exceeds its recoverable amount, which is thehigher of its fair value less costs of disposal and its value inuse. The key assumptions used to determine the recoverableamount for the different CGUs are disclosed and furtherexplained in note 11.Note 11 Intangible assets and goodwillCash generating unitNOK'00020232022Norway313,575313,575Sweden44,61764,964358,192378,539Cost,NOK 000'sGoodwill NorwayGoodwill SwedenR&DTotalAt 1 January 2022313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Additions0000Disposals0000Exchange adjustment04,65304,653At 31 December 2023313,57569,6177,573390,765Depreciation and impairmentAt January 1 202200(4,543)(4,543)Impairment0000Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Impairment(25,000)00Depreciation charge for the year00(1,515)(1,515)At 31 December 20230(25,000)(7,573)(32,573)Net book valueAt 31 December 2022313,57564,9641,515380,054At 31 December 2023313,57544,617(0)358,192Useful 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 NOK58.6 million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment or when there areindications of impairment.The impairment test is conducted for each cash generating unit, by evaluating the present value of future cash \ufb02ows, based oncash \ufb02ow projections. The recoverable amount is set to the estimated value in use. The value in use is the net present value ofthe estimated cash \ufb02ow before tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing key assumptions:\u2022 Discount rates\u2022 EBITDA-margin\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast period.The calculated weighted average cost of capital (WACC) after tax (before tax) for Norway was 10.5 % (13.4 %) and 9.3% (11.7 %)for Sweden. It has been assessed that there is no significant difference in outcome by using pre- or post-tax calculations. Hence,the impairment test are performed based on an after-tax basis. The risk free interest rate was 3.3% for Norway and 2.0 % forSweden. The risk premium is calculated based on market statistics for comparable companies. The cash \ufb02ow forecast takes intoaccount both historical results, expected future growth rates, and market conditions. These budgets and forecast calculationsgenerally cover a period of five years. For Norway and Sweden, the underlying model calculates annual cash \ufb02ows perdepartment, based on periodised employee development, utilisation rate, expected trend in hourly rate, sales / management /overhead changes, wage growth and cost growth. The annualised compound growth rate over the next 4 year period is 2% foreach CGUs. The terminal growth rate used in calculating the terminal value is 2%.The EBITDA-margin in the Norway CGU is expected to be in line with historical levels, while the EBITDA-margin for the SwedenCGU is expected to be lower. The challenges in the Swedish market persists with prolonged sales cycles and reduced marketdemand. As a consequence, Webstep Sweden has during the second half year of 2023 reduced consultants in areas with lowermarket demand and downsized the number of non-billable FTEs. The Group expects the situation to have implications on theGroup's business activities.The impairment model has significant headroom between estimated value and carrying amount for the Norway CGU, butindicates impairment of NOK 25.0 million for the Sweden CGU.A sensitivity analysis was performed for the Sweden CGU where the following changes in key assumptions resulted in anadditional impairment of goodwill amounting to NOK 15.0 million.Original assumptionSensitivity analysisDiscount rates9.3%9.5%EBITDA-margin (terminal-value)3.6%2.6%Growth rate (terminal value)2.0%1.5%The potential changes in key assumptions are considered reasonably possible, due to the negative trend in theSwedish IT consultancy marked.Based on the impairment tests performed, net impairment losses recognised in 2023 amounted to NOK 25.0 millionrelated to Goodwill Sweden.The impairment of Goodwill Sweden is a result of the challenging Swedish ITconsultancy market. There are no indications that impairment is required for Norway.", "dimensions": { "concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__46": { "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 make judgements on which have the mostsignificant 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.Climate related mattersThe estimates and assumptions used in the preparation of theGroup Financial statement are not highly sensitive toclimate-related matters. Even though climate-related risks donot currently have a significant impact on estimates andassumptions, the Group is closely monitoring relevant changesand developments, such as new-climate related legislation, andwill consider this within estimates and assumptions when theybecome significant to the financial statements.Impairment of goodwillImpairment exists when the carrying value of an asset or cashgenerating unit exceeds its recoverable amount, which is thehigher of its fair value less costs of disposal and its value inuse. The key assumptions used to determine the recoverableamount for the different CGUs are disclosed and furtherexplained in note 11.", "dimensions": { "concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__47": { "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 make judgements on which have the mostsignificant 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.Climate related mattersThe estimates and assumptions used in the preparation of theGroup Financial statement are not highly sensitive toclimate-related matters. Even though climate-related risks donot currently have a significant impact on estimates andassumptions, the Group is closely monitoring relevant changesand developments, such as new-climate related legislation, andwill consider this within estimates and assumptions when theybecome significant to the financial statements.Impairment of goodwillImpairment exists when the carrying value of an asset or cashgenerating unit exceeds its recoverable amount, which is thehigher of its fair value less costs of disposal and its value inuse. The key assumptions used to determine the recoverableamount for the different CGUs are disclosed and furtherexplained in note 11.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__58": { "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 directly fromits operations.The Group is exposed to market risk, credit risk, and liquidity risk. The Group\u2019s Executive Directors oversee the management of theserisks. 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. TheGroup aknowledge that there is a risk that macroeconomic factors can cause a downturn in the economy and reduced demand forthe Group's services. Macro Political turmoil have not and are not expected to have a direct impact on Webstep\u2019s business activities.The consequences of the acts of the ongoing wars are uncertain and Webstep is following the developments closely to detect anydirect or indirect consequences that may followIn addition, market risk comprise 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 moderate due to therelative stable financial situation in Norway, combined with low level of debt and strong financial position for the Group. TheGroup has no long-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has a limited interest rate risk, and variation in interest expenses due to changes inNibor would have minor impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout. Look though on the sensitivity calculations in note 24, leasing, where the changes in listed interest rates may have amaterial impact on valuation of both right of use assets and corresponding liabilities.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, with all othervariables held constant. The impact on the Group\u2019s profit before tax is due to changes in applied rate for translation of theprofit in the Swedish subsidiary, while the change in pre-tax equity is due to change in the fair value of monetary assets,intangible assets, receivables and all liabilities including current and non-current leasing liabilities and all current payables,including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreign currency changes for all other currenciesis not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202310 %256,896(10 %)(25)(6,896)202210 %6168,982(10 %)(616)(8,982)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 2023 and 2022. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20232022Trade and other receivables161,992154,871Cash and cash equivalents75,50962,340Total237,500217,211Trade 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 accordance with IFRS 9, receivables arerecognised and carried at their anticipated realisable value, which implies that a provision for a loss allowance on lifetimeexpected credit losses of the receivable is recognised. A provision for loss allowance for expected credit losses is performedat each, statutory reporting date and is based on a multifactor and holistic analysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2023Trade debtors (note 14)104,16650,6679131,764157,510Expected credit loss rate (per cent)0.95%Expected credit loss (NOK 000's)1,495As 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)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's25.10.2023Aa3SEB AB (publ)SwedenFitch08.12.2023AA-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.2023Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)98,644124,04522,75863,20938,078Trade and other payables19,81319,81319,81300Tax payable (note 10)8,8548,8548,85400Social Taxes and VAT91,87391,87391,87300Other short-term debt129,167129,167129,16700Total 31 December 2023348,351373,752272,46563,20938,0782022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease 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 2022284,115293,848233,72649,37010,752Categories of financial instrumentsNOK'00020232022Trade receivables156,015145,742Other receivables5,3489,129Cash and short-term deposits75,50962,340Financial assets measured at amortised cost236,872217,211Debt to credit institutions00Trade payables19,81315,215Other payables91,87381,524Received prepayments of revenues486757Financial liabilities measured at amortised cost112,17297,496The 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__57": { "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 directly fromits operations.The Group is exposed to market risk, credit risk, and liquidity risk. The Group\u2019s Executive Directors oversee the management of theserisks. 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. TheGroup aknowledge that there is a risk that macroeconomic factors can cause a downturn in the economy and reduced demand forthe Group's services. Macro Political turmoil have not and are not expected to have a direct impact on Webstep\u2019s business activities.The consequences of the acts of the ongoing wars are uncertain and Webstep is following the developments closely to detect anydirect or indirect consequences that may followIn addition, market risk comprise 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 moderate due to therelative stable financial situation in Norway, combined with low level of debt and strong financial position for the Group. TheGroup has no long-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has a limited interest rate risk, and variation in interest expenses due to changes inNibor would have minor impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout. Look though on the sensitivity calculations in note 24, leasing, where the changes in listed interest rates may have amaterial impact on valuation of both right of use assets and corresponding liabilities.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, with all othervariables held constant. The impact on the Group\u2019s profit before tax is due to changes in applied rate for translation of theprofit in the Swedish subsidiary, while the change in pre-tax equity is due to change in the fair value of monetary assets,intangible assets, receivables and all liabilities including current and non-current leasing liabilities and all current payables,including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreign currency changes for all other currenciesis not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202310 %256,896(10 %)(25)(6,896)202210 %6168,982(10 %)(616)(8,982)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 2023 and 2022. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20232022Trade and other receivables161,992154,871Cash and cash equivalents75,50962,340Total237,500217,211Trade 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 accordance with IFRS 9, receivables arerecognised and carried at their anticipated realisable value, which implies that a provision for a loss allowance on lifetimeexpected credit losses of the receivable is recognised. A provision for loss allowance for expected credit losses is performedat each, statutory reporting date and is based on a multifactor and holistic analysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2023Trade debtors (note 14)104,16650,6679131,764157,510Expected credit loss rate (per cent)0.95%Expected credit loss (NOK 000's)1,495As 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)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's25.10.2023Aa3SEB AB (publ)SwedenFitch08.12.2023AA-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.2023Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)98,644124,04522,75863,20938,078Trade and other payables19,81319,81319,81300Tax payable (note 10)8,8548,8548,85400Social Taxes and VAT91,87391,87391,87300Other short-term debt129,167129,167129,16700Total 31 December 2023348,351373,752272,46563,20938,0782022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease 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 2022284,115293,848233,72649,37010,752Categories of financial instrumentsNOK'00020232022Trade receivables156,015145,742Other receivables5,3489,129Cash and short-term deposits75,50962,340Financial assets measured at amortised cost236,872217,211Debt to credit institutions00Trade payables19,81315,215Other payables91,87381,524Received prepayments of revenues486757Financial liabilities measured at amortised cost112,17297,496The 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__48": { "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 directly fromits operations.The Group is exposed to market risk, credit risk, and liquidity risk. The Group\u2019s Executive Directors oversee the management of theserisks. 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. TheGroup aknowledge that there is a risk that macroeconomic factors can cause a downturn in the economy and reduced demand forthe Group's services. Macro Political turmoil have not and are not expected to have a direct impact on Webstep\u2019s business activities.The consequences of the acts of the ongoing wars are uncertain and Webstep is following the developments closely to detect anydirect or indirect consequences that may followIn addition, market risk comprise 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 moderate due to therelative stable financial situation in Norway, combined with low level of debt and strong financial position for the Group. TheGroup has no long-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has a limited interest rate risk, and variation in interest expenses due to changes inNibor would have minor impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout. Look though on the sensitivity calculations in note 24, leasing, where the changes in listed interest rates may have amaterial impact on valuation of both right of use assets and corresponding liabilities.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, with all othervariables held constant. The impact on the Group\u2019s profit before tax is due to changes in applied rate for translation of theprofit in the Swedish subsidiary, while the change in pre-tax equity is due to change in the fair value of monetary assets,intangible assets, receivables and all liabilities including current and non-current leasing liabilities and all current payables,including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreign currency changes for all other currenciesis not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202310 %256,896(10 %)(25)(6,896)202210 %6168,982(10 %)(616)(8,982)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 2023 and 2022. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20232022Trade and other receivables161,992154,871Cash and cash equivalents75,50962,340Total237,500217,211Trade 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 accordance with IFRS 9, receivables arerecognised and carried at their anticipated realisable value, which implies that a provision for a loss allowance on lifetimeexpected credit losses of the receivable is recognised. A provision for loss allowance for expected credit losses is performedat each, statutory reporting date and is based on a multifactor and holistic analysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2023Trade debtors (note 14)104,16650,6679131,764157,510Expected credit loss rate (per cent)0.95%Expected credit loss (NOK 000's)1,495As 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)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's25.10.2023Aa3SEB AB (publ)SwedenFitch08.12.2023AA-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.2023Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)98,644124,04522,75863,20938,078Trade and other payables19,81319,81319,81300Tax payable (note 10)8,8548,8548,85400Social Taxes and VAT91,87391,87391,87300Other short-term debt129,167129,167129,16700Total 31 December 2023348,351373,752272,46563,20938,0782022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease 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 2022284,115293,848233,72649,37010,752Categories of financial instrumentsNOK'00020232022Trade receivables156,015145,742Other receivables5,3489,129Cash and short-term deposits75,50962,340Financial assets measured at amortised cost236,872217,211Debt to credit institutions00Trade payables19,81315,215Other payables91,87381,524Received prepayments of revenues486757Financial liabilities measured at amortised cost112,17297,496The 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__49": { "value": "Market riskThe Group has a good order backlog and list of sales prospects, with competencies that are highly attractive in the market. TheGroup aknowledge that there is a risk that macroeconomic factors can cause a downturn in the economy and reduced demand forthe Group's services. Macro Political turmoil have not and are not expected to have a direct impact on Webstep\u2019s business activities.The consequences of the acts of the ongoing wars are uncertain and Webstep is following the developments closely to detect anydirect or indirect consequences that may followIn addition, market risk comprise 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 moderate due to therelative stable financial situation in Norway, combined with low level of debt and strong financial position for the Group. TheGroup has no long-term debt exposed to \ufb02oating interest-rate.Current financing and capital structure has a limited interest rate risk, and variation in interest expenses due to changes inNibor would have minor impact on financial expenses in the Group and presentation of \"Analysis of sensitivity\" is therefore leftout. Look though on the sensitivity calculations in note 24, leasing, where the changes in listed interest rates may have amaterial impact on valuation of both right of use assets and corresponding liabilities.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, with all othervariables held constant. The impact on the Group\u2019s profit before tax is due to changes in applied rate for translation of theprofit in the Swedish subsidiary, while the change in pre-tax equity is due to change in the fair value of monetary assets,intangible assets, receivables and all liabilities including current and non-current leasing liabilities and all current payables,including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreign currency changes for all other currenciesis not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202310 %256,896(10 %)(25)(6,896)202210 %6168,982(10 %)(616)(8,982)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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__50": { "value": "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, with all othervariables held constant. The impact on the Group\u2019s profit before tax is due to changes in applied rate for translation of theprofit in the Swedish subsidiary, while the change in pre-tax equity is due to change in the fair value of monetary assets,intangible assets, receivables and all liabilities including current and non-current leasing liabilities and all current payables,including net tax payables in the Swedish subsidiary. The Group\u2019s exposure to foreign currency changes for all other currenciesis not material.Effect onEffect onChange inprofit beforepre-taxCurrency sensitivitySEK ratetaxequityNOK 000'sNOK 000's202310 %256,896(10 %)(25)(6,896)202210 %6168,982(10 %)(616)(8,982)", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__52-1": { "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 2023 and 2022. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20232022Trade and other receivables161,992154,871Cash and cash equivalents75,50962,340Total237,500217,211Trade 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 accordance with IFRS 9, receivables arerecognised and carried at their anticipated realisable value, which implies that a provision for a loss allowance on lifetimeexpected credit losses of the receivable is recognised. A provision for loss allowance for expected credit losses is performedat each, statutory reporting date and is based on a multifactor and holistic analysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2023Trade debtors (note 14)104,16650,6679131,764157,510Expected credit loss rate (per cent)0.95%Expected credit loss (NOK 000's)1,495As 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)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's25.10.2023Aa3SEB AB (publ)SwedenFitch08.12.2023AA-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.2023Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)98,644124,04522,75863,20938,078Trade and other payables19,81319,81319,81300Tax payable (note 10)8,8548,8548,85400Social Taxes and VAT91,87391,87391,87300Other short-term debt129,167129,167129,16700Total 31 December 2023348,351373,752272,46563,20938,0782022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease 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 2022284,115293,848233,72649,37010,752Categories of financial instrumentsNOK'00020232022Trade receivables156,015145,742Other receivables5,3489,129Cash and short-term deposits75,50962,340Financial assets measured at amortised cost236,872217,211Debt to credit institutions00Trade payables19,81315,215Other payables91,87381,524Received prepayments of revenues486757Financial liabilities measured at amortised cost112,17297,496The 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.Note 15 Cash and short-term depositsCash and Cash Equivalents,NOK'00020232022Cash in bank75,50962,340Cash equivalents00Total Cash and Cash Equivalents75,50962,340Utilised bank overdraft00Net Cash and Cash Equivalents/Bank overdraft75,50962,340Of which Restricted Cash:Guarantees for leases and credits from suppliers1,2171,116Taxes withheld705581Other restricted cash00Total Restricted Cash1,9221,697For 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__51": { "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 2023 and 2022. Liquidity and credit riskmanagement is performed on a monthly basis and is evaluated in board meetings.NOK 000's20232022Trade and other receivables161,992154,871Cash and cash equivalents75,50962,340Total237,500217,211", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__54": { "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 accordance with IFRS 9, receivables arerecognised and carried at their anticipated realisable value, which implies that a provision for a loss allowance on lifetimeexpected credit losses of the receivable is recognised. A provision for loss allowance for expected credit losses is performedat each, statutory reporting date and is based on a multifactor and holistic analysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2023Trade debtors (note 14)104,16650,6679131,764157,510Expected credit loss rate (per cent)0.95%Expected credit loss (NOK 000's)1,495As 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)988", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__53-1": { "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 accordance with IFRS 9, receivables arerecognised and carried at their anticipated realisable value, which implies that a provision for a loss allowance on lifetimeexpected credit losses of the receivable is recognised. A provision for loss allowance for expected credit losses is performedat each, statutory reporting date and is based on a multifactor and holistic analysis depending on several considerations.Aging trade debtorsDay past dueNOK 000'sNot due<30 days30-60 days>60 daysTotalAs of December 31 2023Trade debtors (note 14)104,16650,6679131,764157,510Expected credit loss rate (per cent)0.95%Expected credit loss (NOK 000's)1,495As 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)988Note 14 Trade and other receivablesTrade and other receivablesNOK'00020232022Trade receivables - net of related parties157,510146,730Provision for bad debt(1,495)(988)Trade Receivables net of provision156,015145,742Prepayments and other receivables5,3489,129Receivables from related parties00Payables to related parties00Total trade receivables and prepayments161,363154,871Of which long-term receivables from related parties00Short-term Receivables and prepayments161,363154,871Specification of receivablesNOK'00020232022Trade receivables155,464143,550Accrued income(78)2,192Other receivables00Trade and other receivables155,386145,742Prepaid costs5,2398,222Prepaid public duty debt110142Prepaid rent628765Prepayments5,9779,129Total receivables and prepayments161,363154,871Due dates and fair value of trade and otherreceivablesNOK'00020232022Due within one year*)161,363154,871After one year **)00Fair Value161,363154,871*) 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 fair value.The group has a bad debt provision of NOK 1,495 million in 2023, increased from NOK 0.99 million in 202230-60NOK'000TotalNot due<30 daysdays>60 days2023157,510104,16650,6679131,7642022146,73099,95742,2021,1743,395", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__56": { "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.2023Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsLease liabilities (note 24)98,644124,04522,75863,20938,078Trade and other payables19,81319,81319,81300Tax payable (note 10)8,8548,8548,85400Social Taxes and VAT91,87391,87391,87300Other short-term debt129,167129,167129,16700Total 31 December 2023348,351373,752272,46563,20938,0782022Maturity profile of liabilitiesCarryingNOK'000amountTotalContractual maturity< 1 year1 - 5 years> 5 yearsDebt to credit institutions00000Lease 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 2022284,115293,848233,72649,37010,752Categories of financial instrumentsNOK'00020232022Trade receivables156,015145,742Other receivables5,3489,129Cash and short-term deposits75,50962,340Financial assets measured at amortised cost236,872217,211Debt to credit institutions00Trade payables19,81315,215Other payables91,87381,524Received prepayments of revenues486757Financial liabilities measured at amortised cost112,17297,496The 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__61-1": { "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 does not include eliminations except Group.2023 Segments (in 000' )Norway (NOK)Sweden (NOK)EliminationsType of goods or serviceIT-related consulting services787,335112,008Subcontractors57,56229,971-3,757Resale of licenses16,3620Other353323-150Total revenue from contracts with customers861,611142,302-3,907Timing of revenue recognitionGoods and services transferred at a point in time861,259141,979-3,757Services transferred over time150--150Total revenue from contracts with customers861,409141,979-3,9072022 Segments (in 000' )Norway (NOK)Sweden (NOK)EliminationsType of goods or serviceIT-related consulting services721,050102,234Subcontractors42,98424,140-2,634Other173642-150Total revenue from contracts with customers764,207127,016-2,784Timing of revenue recognitionGoods and services transferred at a point in time764,034126,374-2,634Services transferred over time150--150Total revenue from contracts with customers764,184126,374-2,784Set out below, is the reconciliation of the revenue from contracts with customers with the amounts disclosed inthe segment information (Note 6):20232022Revenue (in 000' NOK)NorwaySwedenNorwaySwedenExternal customer845,458131,126764,034123,740Inter-segment1503,7591502,634Inter-segment adjustments and eliminations(150)(3,759)(150)(2,634)Total revenue from contracts with customers845,458131,126764,034123,740Contract balances:The following table provides information about receivables, contract assets and contract liabilities from contracts withcustomers.NOK 000'12/31/202312/31/2022Receivables which are included in Trade receivables155,381143,550Contract assets6342,192Contract liabilities486757The 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')20232022At January 12,1923,446Additions6342,192Transfers from contract assets recognised at the beginning of the period to receivables(2,192)(3,446)Impairment losses and allowances recognised in the period00At December 316342,192Contract liabilities (NOK 000')20232022At January 17570Invoiced in advance for the period486757Revenues recognised that was included in the contract liability balance at the beginning ofthe period(757)0Current contract liabilities at December 31486757NOK 000\u2019sThe Group provides IT related high-end consulting services. Operating segments are reported by country of operation. The CEOand CFO are responsible for allocating resources and assessing performance of the operating segments. The Group'sperformance is examined by country of operation. Segment performance is evaluated based on the profit or loss measure\"Earnings before interest and tax\" (EBIT) and is measured consistently with profit or loss in the consolidated financial statements.Assets and liabilities 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).2023NorwaySwedenElimination*TotalRevenues Oslo372,695372,695Revenues Regional O\ufb03ces414,640414,640Revenues Sweden112,008112,008Revenues Subcontractors57,56229,971(3,757)83,776Other0Total revenue (IT-related consulting services)844,897141,979(3,757)983,119Other income16,714323(150)16,887Total operating expenses less depreciation and impairment844,563140,560(3,898)981,225EBIT17,0481,41918,467EBIT margin (% of total revenue)2.0 %1.0 %1.9 %2022NorwaySwedenElimination*TotalRevenues Oslo324,651324,651Revenues Regional O\ufb03ces396,399396,399Sweden102,234102,234Subcontractors42,98424,140(2,634)64,490Other0Total revenue (IT-related consulting services)764,034126,374(2,634)887,774Other income173642(150)665Total operating expenses less depreciation and impairment716,480120,094(2,784)833,790EBIT47,7276,92254,649EBIT margin (% of total revenue)6.2 %5.5 %6.2 %*Elimination consists of hiring of consultants from Sweden to Norway and management fee fromSweden to Norway.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__60-1": { "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 does not include eliminations except Group.2023 Segments (in 000' )Norway (NOK)Sweden (NOK)EliminationsType of goods or serviceIT-related consulting services787,335112,008Subcontractors57,56229,971-3,757Resale of licenses16,3620Other353323-150Total revenue from contracts with customers861,611142,302-3,907Timing of revenue recognitionGoods and services transferred at a point in time861,259141,979-3,757Services transferred over time150--150Total revenue from contracts with customers861,409141,979-3,9072022 Segments (in 000' )Norway (NOK)Sweden (NOK)EliminationsType of goods or serviceIT-related consulting services721,050102,234Subcontractors42,98424,140-2,634Other173642-150Total revenue from contracts with customers764,207127,016-2,784Timing of revenue recognitionGoods and services transferred at a point in time764,034126,374-2,634Services transferred over time150--150Total revenue from contracts with customers764,184126,374-2,784Set out below, is the reconciliation of the revenue from contracts with customers with the amounts disclosed inthe segment information (Note 6):20232022Revenue (in 000' NOK)NorwaySwedenNorwaySwedenExternal customer845,458131,126764,034123,740Inter-segment1503,7591502,634Inter-segment adjustments and eliminations(150)(3,759)(150)(2,634)Total revenue from contracts with customers845,458131,126764,034123,740Contract balances:The following table provides information about receivables, contract assets and contract liabilities from contracts withcustomers.NOK 000'12/31/202312/31/2022Receivables which are included in Trade receivables155,381143,550Contract assets6342,192Contract liabilities486757The 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')20232022At January 12,1923,446Additions6342,192Transfers from contract assets recognised at the beginning of the period to receivables(2,192)(3,446)Impairment losses and allowances recognised in the period00At December 316342,192Contract liabilities (NOK 000')20232022At January 17570Invoiced in advance for the period486757Revenues recognised that was included in the contract liability balance at the beginning ofthe period(757)0Current contract liabilities at December 31486757NOK 000\u2019sThe Group provides IT related high-end consulting services. Operating segments are reported by country of operation. The CEOand CFO are responsible for allocating resources and assessing performance of the operating segments. The Group'sperformance is examined by country of operation. Segment performance is evaluated based on the profit or loss measure\"Earnings before interest and tax\" (EBIT) and is measured consistently with profit or loss in the consolidated financial statements.Assets and liabilities 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).2023NorwaySwedenElimination*TotalRevenues Oslo372,695372,695Revenues Regional O\ufb03ces414,640414,640Revenues Sweden112,008112,008Revenues Subcontractors57,56229,971(3,757)83,776Other0Total revenue (IT-related consulting services)844,897141,979(3,757)983,119Other income16,714323(150)16,887Total operating expenses less depreciation and impairment844,563140,560(3,898)981,225EBIT17,0481,41918,467EBIT margin (% of total revenue)2.0 %1.0 %1.9 %2022NorwaySwedenElimination*TotalRevenues Oslo324,651324,651Revenues Regional O\ufb03ces396,399396,399Sweden102,234102,234Subcontractors42,98424,140(2,634)64,490Other0Total revenue (IT-related consulting services)764,034126,374(2,634)887,774Other income173642(150)665Total operating expenses less depreciation and impairment716,480120,094(2,784)833,790EBIT47,7276,92254,649EBIT margin (% of total revenue)6.2 %5.5 %6.2 %*Elimination consists of hiring of consultants from Sweden to Norway and management fee fromSweden to Norway.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__59-1": { "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 does not include eliminations except Group.2023 Segments (in 000' )Norway (NOK)Sweden (NOK)EliminationsType of goods or serviceIT-related consulting services787,335112,008Subcontractors57,56229,971-3,757Resale of licenses16,3620Other353323-150Total revenue from contracts with customers861,611142,302-3,907Timing of revenue recognitionGoods and services transferred at a point in time861,259141,979-3,757Services transferred over time150--150Total revenue from contracts with customers861,409141,979-3,9072022 Segments (in 000' )Norway (NOK)Sweden (NOK)EliminationsType of goods or serviceIT-related consulting services721,050102,234Subcontractors42,98424,140-2,634Other173642-150Total revenue from contracts with customers764,207127,016-2,784Timing of revenue recognitionGoods and services transferred at a point in time764,034126,374-2,634Services transferred over time150--150Total revenue from contracts with customers764,184126,374-2,784Set out below, is the reconciliation of the revenue from contracts with customers with the amounts disclosed inthe segment information (Note 6):20232022Revenue (in 000' NOK)NorwaySwedenNorwaySwedenExternal customer845,458131,126764,034123,740Inter-segment1503,7591502,634Inter-segment adjustments and eliminations(150)(3,759)(150)(2,634)Total revenue from contracts with customers845,458131,126764,034123,740Contract balances:The following table provides information about receivables, contract assets and contract liabilities from contracts withcustomers.NOK 000'12/31/202312/31/2022Receivables which are included in Trade receivables155,381143,550Contract assets6342,192Contract liabilities486757The 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')20232022At January 12,1923,446Additions6342,192Transfers from contract assets recognised at the beginning of the period to receivables(2,192)(3,446)Impairment losses and allowances recognised in the period00At December 316342,192Contract liabilities (NOK 000')20232022At January 17570Invoiced in advance for the period486757Revenues recognised that was included in the contract liability balance at the beginning ofthe period(757)0Current contract liabilities at December 31486757Note 6 Segment informationNOK 000\u2019sThe Group provides IT related high-end consulting services. Operating segments are reported by country of operation. The CEOand CFO are responsible for allocating resources and assessing performance of the operating segments. The Group'sperformance is examined by country of operation. Segment performance is evaluated based on the profit or loss measure\"Earnings before interest and tax\" (EBIT) and is measured consistently with profit or loss in the consolidated financial statements.Assets and liabilities 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).2023NorwaySwedenElimination*TotalRevenues Oslo372,695372,695Revenues Regional O\ufb03ces414,640414,640Revenues Sweden112,008112,008Revenues Subcontractors57,56229,971(3,757)83,776Other0Total revenue (IT-related consulting services)844,897141,979(3,757)983,119Other income16,714323(150)16,887Total operating expenses less depreciation and impairment844,563140,560(3,898)981,225EBIT17,0481,41918,467EBIT margin (% of total revenue)2.0 %1.0 %1.9 %2022NorwaySwedenElimination*TotalRevenues Oslo324,651324,651Revenues Regional O\ufb03ces396,399396,399Sweden102,234102,234Subcontractors42,98424,140(2,634)64,490Other0Total revenue (IT-related consulting services)764,034126,374(2,634)887,774Other income173642(150)665Total operating expenses less depreciation and impairment716,480120,094(2,784)833,790EBIT47,7276,92254,649EBIT margin (% of total revenue)6.2 %5.5 %6.2 %*Elimination consists of hiring of consultants from Sweden to Norway and management fee fromSweden to Norway.Geographical analysis of assetsAnalysis of non-current assets by geographical location2023NorwaySwedenElimination*TotalRight-of-use assets83.114.897.9Research and development0.0Fixed assets11.90.412.3Total non-current assets operating assets 202395.115.20.0110.22022NorwaySwedenElimination*TotalRight-of-use assets49.215.965.1Research and development1.51.5Fixed assets13.90.514.4Total non-current assets operating assets 202264.616.40.081.0Asset location20232022Norway95,06064,612Sweden15,15916,395Non-current segment assets110,21981,007Other intangible assets358,192378,554Non-current financial assets22Deferred tax asset2,8882,193Trade receivables156,015145,742Other receivables5,3489,129Cash and short-term deposits75,50962,340Consolidated total assets708,172678,967", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__66-1": { "value": "Note 7 Salaries, remuneration and audit feesNOK 000'sSalaries and personnel expenses (NOK'000)20232022Salaries616,262540,411Social security costs110,63786,457Pensions24,20024,117Share-based compensation1,2343,606Other benefits and refunds31,37032,137Total salaries and personnel expenses783,703686,728Number of employees, average FTEs561512TotalRemuneration to executive managementremunerationNOK'000Base salaryVariable payOther (1)PensionRemuneration to executive management 202313,5812,81164217,034579Remuneration to executive management 202214,6423,7131,91020,265626(1) Other consists of e.g. health insurance plans, car allowance, telephone/mobile communication, share-options (NOK1.2 million in 2022) and housing allowance.(2)The Company had severance pay related to reduction of executive management (financial year 2022 and 2023) andchange of CEO (financial year 2023), in total TNOK 3.600 for 2022 and TNOK 4.030 for 2023. The table above isexclusive severance pay.(3) The hiring of the Interim CEO is facilitated through an agreement with the company Suelo AS, the costs areexcluded from the table aboveRemuneration to board members and nomination committee20232022Chair of the BoardKjetil Bakke Eriksen (Chair until 19 November 2023)418373Board memberSiw \u00d8degaard288276Board members and nomination committee from 4 May 2023Board memberKjell Magne Leirgulen (Chair from 5 January 2024)206Board memberAnna S\u00f6derblom173Board memberDavid Bjerkeli189Board memberBendik N. Blindheim189Board memberKari Mette Toverud194Nomination committeeP\u00e5l Kvernaas27Nomination committeeOscar Bakkevig13Nomination committeeToril Nag13Board members and nomination committee until 4 May 2023Board memberTrond Klethagen Johannessen95327Board memberTrygve Christian Moe97287Board memberToril Nag87258Nomination committeeBj\u00f8rn Ivar Danielsen1030Nomination committeePetter Tusvik618Total remuneration to board members and nomination committee2,0061,569Board remunerationCompensation to board members is not performance-related. Compensation to the Board is determined by the Annual GeneralMeeting, and the accrued cost for 2023 and 2022 is based on the decision made by the Annual General Meeting. Thecompensation is paid in arrears.Determination 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 and the Director Communication and marketing. Remuneration to executivemanagement is mainly fixed salary as well as performance based bonus. CEOs bonus is decided by the Remuneration Committee,CFOs bonus is based on the handling of finance and external financial communitation matters, and regional managers bonus iscalculated by pre-determined KPIs, in line with the Remuneration Policy. The accrued bonuses are included in the table above.The executive management is entitled to participate in the Long-term incentive programme as described in note 22.For details see the Remuneration Report available on www.webstep.noNote 8 Pension costsNOK 000\u2019sAll 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 percentage of the salary, limited to 12 times the base amount (G). Thetotal pension premium charge in 2023 is NOK 24,2 million (2022: NOK NOK 24,1 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__65": { "value": "Note 7 Salaries, remuneration and audit feesNOK 000'sSalaries and personnel expenses (NOK'000)20232022Salaries616,262540,411Social security costs110,63786,457Pensions24,20024,117Share-based compensation1,2343,606Other benefits and refunds31,37032,137Total salaries and personnel expenses783,703686,728Number of employees, average FTEs561512TotalRemuneration to executive managementremunerationNOK'000Base salaryVariable payOther (1)PensionRemuneration to executive management 202313,5812,81164217,034579Remuneration to executive management 202214,6423,7131,91020,265626(1) Other consists of e.g. health insurance plans, car allowance, telephone/mobile communication, share-options (NOK1.2 million in 2022) and housing allowance.(2)The Company had severance pay related to reduction of executive management (financial year 2022 and 2023) andchange of CEO (financial year 2023), in total TNOK 3.600 for 2022 and TNOK 4.030 for 2023. The table above isexclusive severance pay.(3) The hiring of the Interim CEO is facilitated through an agreement with the company Suelo AS, the costs areexcluded from the table aboveRemuneration to board members and nomination committee20232022Chair of the BoardKjetil Bakke Eriksen (Chair until 19 November 2023)418373Board memberSiw \u00d8degaard288276Board members and nomination committee from 4 May 2023Board memberKjell Magne Leirgulen (Chair from 5 January 2024)206Board memberAnna S\u00f6derblom173Board memberDavid Bjerkeli189Board memberBendik N. Blindheim189Board memberKari Mette Toverud194Nomination committeeP\u00e5l Kvernaas27Nomination committeeOscar Bakkevig13Nomination committeeToril Nag13Board members and nomination committee until 4 May 2023Board memberTrond Klethagen Johannessen95327Board memberTrygve Christian Moe97287Board memberToril Nag87258Nomination committeeBj\u00f8rn Ivar Danielsen1030Nomination committeePetter Tusvik618Total remuneration to board members and nomination committee2,0061,569Board remunerationCompensation to board members is not performance-related. Compensation to the Board is determined by the Annual GeneralMeeting, and the accrued cost for 2023 and 2022 is based on the decision made by the Annual General Meeting. Thecompensation is paid in arrears.Determination 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 and the Director Communication and marketing. Remuneration to executivemanagement is mainly fixed salary as well as performance based bonus. CEOs bonus is decided by the Remuneration Committee,CFOs bonus is based on the handling of finance and external financial communitation matters, and regional managers bonus iscalculated by pre-determined KPIs, in line with the Remuneration Policy. The accrued bonuses are included in the table above.The executive management is entitled to participate in the Long-term incentive programme as described in note 22.For details see the Remuneration Report available on www.webstep.no", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__68-1": { "value": "Note 7 Salaries, remuneration and audit feesAudit fees *20232022Statutory audit fees1,178909Audit-related assistance194213Total fee1,3721,122* VAT is not included", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__67": { "value": "TotalRemuneration to executive managementremunerationNOK'000Base salaryVariable payOther (1)PensionRemuneration to executive management 202313,5812,81164217,034579Remuneration to executive management 202214,6423,7131,91020,265626(1) Other consists of e.g. health insurance plans, car allowance, telephone/mobile communication, share-options (NOK1.2 million in 2022) and housing allowance.(2)The Company had severance pay related to reduction of executive management (financial year 2022 and 2023) andchange of CEO (financial year 2023), in total TNOK 3.600 for 2022 and TNOK 4.030 for 2023. The table above isexclusive severance pay.(3) The hiring of the Interim CEO is facilitated through an agreement with the company Suelo AS, the costs areexcluded from the table aboveRemuneration to board members and nomination committee20232022Chair of the BoardKjetil Bakke Eriksen (Chair until 19 November 2023)418373Board memberSiw \u00d8degaard288276Board members and nomination committee from 4 May 2023Board memberKjell Magne Leirgulen (Chair from 5 January 2024)206Board memberAnna S\u00f6derblom173Board memberDavid Bjerkeli189Board memberBendik N. Blindheim189Board memberKari Mette Toverud194Nomination committeeP\u00e5l Kvernaas27Nomination committeeOscar Bakkevig13Nomination committeeToril Nag13Board members and nomination committee until 4 May 2023Board memberTrond Klethagen Johannessen95327Board memberTrygve Christian Moe97287Board memberToril Nag87258Nomination committeeBj\u00f8rn Ivar Danielsen1030Nomination committeePetter Tusvik618Total remuneration to board members and nomination committee2,0061,569Board remunerationCompensation to board members is not performance-related. Compensation to the Board is determined by the Annual GeneralMeeting, and the accrued cost for 2023 and 2022 is based on the decision made by the Annual General Meeting. Thecompensation is paid in arrears.Determination 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 and the Director Communication and marketing. Remuneration to executivemanagement is mainly fixed salary as well as performance based bonus. CEOs bonus is decided by the Remuneration Committee,CFOs bonus is based on the handling of finance and external financial communitation matters, and regional managers bonus iscalculated by pre-determined KPIs, in line with the Remuneration Policy. The accrued bonuses are included in the table above.The executive management is entitled to participate in the Long-term incentive programme as described in note 22.For details see the Remuneration Report available on www.webstep.no", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__76": { "value": "Finance incomeNOK'00020232022Interest income1,709595Other finance income (including foreign exchange effects)0419Total finance income1,7091,014Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__75": { "value": "Finance incomeNOK'00020232022Interest income1,709595Other finance income (including foreign exchange effects)0419Total finance income1,7091,014Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__73": { "value": "Finance incomeNOK'00020232022Interest income1,709595Other finance income (including foreign exchange effects)0419Total finance income1,7091,014Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__72": { "value": "Finance incomeNOK'00020232022Interest income1,709595Other finance income (including foreign exchange effects)0419Total finance income1,7091,014Interest income primarily comprises interest received on bank deposits and effects of foreignexchange.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__77": { "value": "Finance expenseNOK'00020232022Interest expense(6,312)(4,512)Other finance expense (including foreign exchange effects)(835)(877)Total finance expense(7,147)(5,389)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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__74": { "value": "Finance expenseNOK'00020232022Interest expense(6,312)(4,512)Other finance expense (including foreign exchange effects)(835)(877)Total finance expense(7,147)(5,389)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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__71": { "value": "Finance expenseNOK'00020232022Interest expense(6,312)(4,512)Other finance expense (including foreign exchange effects)(835)(877)Total finance expense(7,147)(5,389)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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__78": { "value": "Note 10 TaxesNOK 000'sConsolidated statement of profit or loss20232022Current income tax9,60312,404Unprovided income tax charge from previous year00Deferred tax(1,019)(566)Income tax expense reported in the statement of profit or loss8,58511,838Reconciliation of tax expense and the accounting profit multiplied by the Group\u2019s tax rate for 2023 and2022:Reconciliation of tax base20232022Accounting profit before tax13,02950,274Permanent differences*26,6293,985Change in temporary differences4,1892,577Tax base for the year43,84756,836Tax payable (22%)9,64612,504Prepaid tax(748)(525)Differences in tax rates on foreign subsidiary(44)(101)Tax payable in the balance sheet8,85411,878*Permanent differences of MNOK 25 related to impairment of goodwill, asdescribed in note 11, which is non tax deductibleDeferred tax20232022Fixed assets4,0832,003Receivables1,495988Provisions, not yet tax deductible9,4968,529Statutory tax provisions in Sweden(8,013)(8,593)Total7,0612,927Net deferred tax asset/(liability) (22%)1,553644Effect of difference in tax rates Sweden (20,6%/22%)6499Total adjusted for differences in tax rates1,617742Re\ufb02ected in the statement of financial position as follows:Deferred tax assets2,8882,193Deferred tax liabilities(1,271)(1,451)Deferred tax liabilities, net1,617742Effective tax rate:Expected income tax2,86611,060Permanent differences5,858877Effect of change in tax rate and other(141)(99)Income tax expense*8,58411,838* Income tax expense in relation to income before tax65.9 %23.5 %", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__79": { "value": "Consolidated statement of profit or loss20232022Current income tax9,60312,404Unprovided income tax charge from previous year00Deferred tax(1,019)(566)Income tax expense reported in the statement of profit or loss8,58511,838Reconciliation of tax expense and the accounting profit multiplied by the Group\u2019s tax rate for 2023 and2022:Reconciliation of tax base20232022Accounting profit before tax13,02950,274Permanent differences*26,6293,985Change in temporary differences4,1892,577Tax base for the year43,84756,836Tax payable (22%)9,64612,504Prepaid tax(748)(525)Differences in tax rates on foreign subsidiary(44)(101)Tax payable in the balance sheet8,85411,878*Permanent differences of MNOK 25 related to impairment of goodwill, asdescribed in note 11, which is non tax deductibleDeferred tax20232022Fixed assets4,0832,003Receivables1,495988Provisions, not yet tax deductible9,4968,529Statutory tax provisions in Sweden(8,013)(8,593)Total7,0612,927Net deferred tax asset/(liability) (22%)1,553644Effect of difference in tax rates Sweden (20,6%/22%)6499Total adjusted for differences in tax rates1,617742Re\ufb02ected in the statement of financial position as follows:Deferred tax assets2,8882,193Deferred tax liabilities(1,271)(1,451)Deferred tax liabilities, net1,617742", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__86": { "value": "Note 11 Intangible assets and goodwillCash generating unitNOK'00020232022Norway313,575313,575Sweden44,61764,964358,192378,539Cost,NOK 000'sGoodwill NorwayGoodwill SwedenR&DTotalAt 1 January 2022313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Additions0000Disposals0000Exchange adjustment04,65304,653At 31 December 2023313,57569,6177,573390,765Depreciation and impairmentAt January 1 202200(4,543)(4,543)Impairment0000Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Impairment(25,000)00Depreciation charge for the year00(1,515)(1,515)At 31 December 20230(25,000)(7,573)(32,573)Net book valueAt 31 December 2022313,57564,9641,515380,054At 31 December 2023313,57544,617(0)358,192Useful 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 NOK58.6 million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment or when there areindications of impairment.The impairment test is conducted for each cash generating unit, by evaluating the present value of future cash \ufb02ows, based oncash \ufb02ow projections. The recoverable amount is set to the estimated value in use. The value in use is the net present value ofthe estimated cash \ufb02ow before tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing key assumptions:\u2022 Discount rates\u2022 EBITDA-margin\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast period.The calculated weighted average cost of capital (WACC) after tax (before tax) for Norway was 10.5 % (13.4 %) and 9.3% (11.7 %)for Sweden. It has been assessed that there is no significant difference in outcome by using pre- or post-tax calculations. Hence,the impairment test are performed based on an after-tax basis. The risk free interest rate was 3.3% for Norway and 2.0 % forSweden. The risk premium is calculated based on market statistics for comparable companies. The cash \ufb02ow forecast takes intoaccount both historical results, expected future growth rates, and market conditions. These budgets and forecast calculationsgenerally cover a period of five years. For Norway and Sweden, the underlying model calculates annual cash \ufb02ows perdepartment, based on periodised employee development, utilisation rate, expected trend in hourly rate, sales / management /overhead changes, wage growth and cost growth. The annualised compound growth rate over the next 4 year period is 2% foreach CGUs. The terminal growth rate used in calculating the terminal value is 2%.The EBITDA-margin in the Norway CGU is expected to be in line with historical levels, while the EBITDA-margin for the SwedenCGU is expected to be lower. The challenges in the Swedish market persists with prolonged sales cycles and reduced marketdemand. As a consequence, Webstep Sweden has during the second half year of 2023 reduced consultants in areas with lowermarket demand and downsized the number of non-billable FTEs. The Group expects the situation to have implications on theGroup's business activities.The impairment model has significant headroom between estimated value and carrying amount for the Norway CGU, butindicates impairment of NOK 25.0 million for the Sweden CGU.A sensitivity analysis was performed for the Sweden CGU where the following changes in key assumptions resulted in anadditional impairment of goodwill amounting to NOK 15.0 million.Original assumptionSensitivity analysisDiscount rates9.3%9.5%EBITDA-margin (terminal-value)3.6%2.6%Growth rate (terminal value)2.0%1.5%The potential changes in key assumptions are considered reasonably possible, due to the negative trend in theSwedish IT consultancy marked.Based on the impairment tests performed, net impairment losses recognised in 2023 amounted to NOK 25.0 millionrelated to Goodwill Sweden.The impairment of Goodwill Sweden is a result of the challenging Swedish ITconsultancy market. There are no indications that impairment is required for Norway.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__85": { "value": "Note 11 Intangible assets and goodwillCash generating unitNOK'00020232022Norway313,575313,575Sweden44,61764,964358,192378,539Cost,NOK 000'sGoodwill NorwayGoodwill SwedenR&DTotalAt 1 January 2022313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Additions0000Disposals0000Exchange adjustment04,65304,653At 31 December 2023313,57569,6177,573390,765Depreciation and impairmentAt January 1 202200(4,543)(4,543)Impairment0000Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Impairment(25,000)00Depreciation charge for the year00(1,515)(1,515)At 31 December 20230(25,000)(7,573)(32,573)Net book valueAt 31 December 2022313,57564,9641,515380,054At 31 December 2023313,57544,617(0)358,192Useful 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 NOK58.6 million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment or when there areindications of impairment.The impairment test is conducted for each cash generating unit, by evaluating the present value of future cash \ufb02ows, based oncash \ufb02ow projections. The recoverable amount is set to the estimated value in use. The value in use is the net present value ofthe estimated cash \ufb02ow before tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing key assumptions:\u2022 Discount rates\u2022 EBITDA-margin\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast period.The calculated weighted average cost of capital (WACC) after tax (before tax) for Norway was 10.5 % (13.4 %) and 9.3% (11.7 %)for Sweden. It has been assessed that there is no significant difference in outcome by using pre- or post-tax calculations. Hence,the impairment test are performed based on an after-tax basis. The risk free interest rate was 3.3% for Norway and 2.0 % forSweden. The risk premium is calculated based on market statistics for comparable companies. The cash \ufb02ow forecast takes intoaccount both historical results, expected future growth rates, and market conditions. These budgets and forecast calculationsgenerally cover a period of five years. For Norway and Sweden, the underlying model calculates annual cash \ufb02ows perdepartment, based on periodised employee development, utilisation rate, expected trend in hourly rate, sales / management /overhead changes, wage growth and cost growth. The annualised compound growth rate over the next 4 year period is 2% foreach CGUs. The terminal growth rate used in calculating the terminal value is 2%.The EBITDA-margin in the Norway CGU is expected to be in line with historical levels, while the EBITDA-margin for the SwedenCGU is expected to be lower. The challenges in the Swedish market persists with prolonged sales cycles and reduced marketdemand. As a consequence, Webstep Sweden has during the second half year of 2023 reduced consultants in areas with lowermarket demand and downsized the number of non-billable FTEs. The Group expects the situation to have implications on theGroup's business activities.The impairment model has significant headroom between estimated value and carrying amount for the Norway CGU, butindicates impairment of NOK 25.0 million for the Sweden CGU.A sensitivity analysis was performed for the Sweden CGU where the following changes in key assumptions resulted in anadditional impairment of goodwill amounting to NOK 15.0 million.Original assumptionSensitivity analysisDiscount rates9.3%9.5%EBITDA-margin (terminal-value)3.6%2.6%Growth rate (terminal value)2.0%1.5%The potential changes in key assumptions are considered reasonably possible, due to the negative trend in theSwedish IT consultancy marked.Based on the impairment tests performed, net impairment losses recognised in 2023 amounted to NOK 25.0 millionrelated to Goodwill Sweden.The impairment of Goodwill Sweden is a result of the challenging Swedish ITconsultancy market. There are no indications that impairment is required for Norway.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__84": { "value": "Note 11 Intangible assets and goodwillCash generating unitNOK'00020232022Norway313,575313,575Sweden44,61764,964358,192378,539Cost,NOK 000'sGoodwill NorwayGoodwill SwedenR&DTotalAt 1 January 2022313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Additions0000Disposals0000Exchange adjustment04,65304,653At 31 December 2023313,57569,6177,573390,765Depreciation and impairmentAt January 1 202200(4,543)(4,543)Impairment0000Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Impairment(25,000)00Depreciation charge for the year00(1,515)(1,515)At 31 December 20230(25,000)(7,573)(32,573)Net book valueAt 31 December 2022313,57564,9641,515380,054At 31 December 2023313,57544,617(0)358,192Useful 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 NOK58.6 million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment or when there areindications of impairment.The impairment test is conducted for each cash generating unit, by evaluating the present value of future cash \ufb02ows, based oncash \ufb02ow projections. The recoverable amount is set to the estimated value in use. The value in use is the net present value ofthe estimated cash \ufb02ow before tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing key assumptions:\u2022 Discount rates\u2022 EBITDA-margin\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast period.The calculated weighted average cost of capital (WACC) after tax (before tax) for Norway was 10.5 % (13.4 %) and 9.3% (11.7 %)for Sweden. It has been assessed that there is no significant difference in outcome by using pre- or post-tax calculations. Hence,the impairment test are performed based on an after-tax basis. The risk free interest rate was 3.3% for Norway and 2.0 % forSweden. The risk premium is calculated based on market statistics for comparable companies. The cash \ufb02ow forecast takes intoaccount both historical results, expected future growth rates, and market conditions. These budgets and forecast calculationsgenerally cover a period of five years. For Norway and Sweden, the underlying model calculates annual cash \ufb02ows perdepartment, based on periodised employee development, utilisation rate, expected trend in hourly rate, sales / management /overhead changes, wage growth and cost growth. The annualised compound growth rate over the next 4 year period is 2% foreach CGUs. The terminal growth rate used in calculating the terminal value is 2%.The EBITDA-margin in the Norway CGU is expected to be in line with historical levels, while the EBITDA-margin for the SwedenCGU is expected to be lower. The challenges in the Swedish market persists with prolonged sales cycles and reduced marketdemand. As a consequence, Webstep Sweden has during the second half year of 2023 reduced consultants in areas with lowermarket demand and downsized the number of non-billable FTEs. The Group expects the situation to have implications on theGroup's business activities.The impairment model has significant headroom between estimated value and carrying amount for the Norway CGU, butindicates impairment of NOK 25.0 million for the Sweden CGU.A sensitivity analysis was performed for the Sweden CGU where the following changes in key assumptions resulted in anadditional impairment of goodwill amounting to NOK 15.0 million.Original assumptionSensitivity analysisDiscount rates9.3%9.5%EBITDA-margin (terminal-value)3.6%2.6%Growth rate (terminal value)2.0%1.5%The potential changes in key assumptions are considered reasonably possible, due to the negative trend in theSwedish IT consultancy marked.Based on the impairment tests performed, net impairment losses recognised in 2023 amounted to NOK 25.0 millionrelated to Goodwill Sweden.The impairment of Goodwill Sweden is a result of the challenging Swedish ITconsultancy market. There are no indications that impairment is required for Norway.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__83": { "value": "Note 11 Intangible assets and goodwillCash generating unitNOK'00020232022Norway313,575313,575Sweden44,61764,964358,192378,539Cost,NOK 000'sGoodwill NorwayGoodwill SwedenR&DTotalAt 1 January 2022313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Additions0000Disposals0000Exchange adjustment04,65304,653At 31 December 2023313,57569,6177,573390,765Depreciation and impairmentAt January 1 202200(4,543)(4,543)Impairment0000Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Impairment(25,000)00Depreciation charge for the year00(1,515)(1,515)At 31 December 20230(25,000)(7,573)(32,573)Net book valueAt 31 December 2022313,57564,9641,515380,054At 31 December 2023313,57544,617(0)358,192Useful 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 NOK58.6 million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment or when there areindications of impairment.The impairment test is conducted for each cash generating unit, by evaluating the present value of future cash \ufb02ows, based oncash \ufb02ow projections. The recoverable amount is set to the estimated value in use. The value in use is the net present value ofthe estimated cash \ufb02ow before tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing key assumptions:\u2022 Discount rates\u2022 EBITDA-margin\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast period.The calculated weighted average cost of capital (WACC) after tax (before tax) for Norway was 10.5 % (13.4 %) and 9.3% (11.7 %)for Sweden. It has been assessed that there is no significant difference in outcome by using pre- or post-tax calculations. Hence,the impairment test are performed based on an after-tax basis. The risk free interest rate was 3.3% for Norway and 2.0 % forSweden. The risk premium is calculated based on market statistics for comparable companies. The cash \ufb02ow forecast takes intoaccount both historical results, expected future growth rates, and market conditions. These budgets and forecast calculationsgenerally cover a period of five years. For Norway and Sweden, the underlying model calculates annual cash \ufb02ows perdepartment, based on periodised employee development, utilisation rate, expected trend in hourly rate, sales / management /overhead changes, wage growth and cost growth. The annualised compound growth rate over the next 4 year period is 2% foreach CGUs. The terminal growth rate used in calculating the terminal value is 2%.The EBITDA-margin in the Norway CGU is expected to be in line with historical levels, while the EBITDA-margin for the SwedenCGU is expected to be lower. The challenges in the Swedish market persists with prolonged sales cycles and reduced marketdemand. As a consequence, Webstep Sweden has during the second half year of 2023 reduced consultants in areas with lowermarket demand and downsized the number of non-billable FTEs. The Group expects the situation to have implications on theGroup's business activities.The impairment model has significant headroom between estimated value and carrying amount for the Norway CGU, butindicates impairment of NOK 25.0 million for the Sweden CGU.A sensitivity analysis was performed for the Sweden CGU where the following changes in key assumptions resulted in anadditional impairment of goodwill amounting to NOK 15.0 million.Original assumptionSensitivity analysisDiscount rates9.3%9.5%EBITDA-margin (terminal-value)3.6%2.6%Growth rate (terminal value)2.0%1.5%The potential changes in key assumptions are considered reasonably possible, due to the negative trend in theSwedish IT consultancy marked.Based on the impairment tests performed, net impairment losses recognised in 2023 amounted to NOK 25.0 millionrelated to Goodwill Sweden.The impairment of Goodwill Sweden is a result of the challenging Swedish ITconsultancy market. There are no indications that impairment is required for Norway.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__82": { "value": "Note 11 Intangible assets and goodwillCash generating unitNOK'00020232022Norway313,575313,575Sweden44,61764,964358,192378,539Cost,NOK 000'sGoodwill NorwayGoodwill SwedenR&DTotalAt 1 January 2022313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Additions0000Disposals0000Exchange adjustment04,65304,653At 31 December 2023313,57569,6177,573390,765Depreciation and impairmentAt January 1 202200(4,543)(4,543)Impairment0000Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Impairment(25,000)00Depreciation charge for the year00(1,515)(1,515)At 31 December 20230(25,000)(7,573)(32,573)Net book valueAt 31 December 2022313,57564,9641,515380,054At 31 December 2023313,57544,617(0)358,192Useful 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 NOK58.6 million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment or when there areindications of impairment.The impairment test is conducted for each cash generating unit, by evaluating the present value of future cash \ufb02ows, based oncash \ufb02ow projections. The recoverable amount is set to the estimated value in use. The value in use is the net present value ofthe estimated cash \ufb02ow before tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing key assumptions:\u2022 Discount rates\u2022 EBITDA-margin\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast period.The calculated weighted average cost of capital (WACC) after tax (before tax) for Norway was 10.5 % (13.4 %) and 9.3% (11.7 %)for Sweden. It has been assessed that there is no significant difference in outcome by using pre- or post-tax calculations. Hence,the impairment test are performed based on an after-tax basis. The risk free interest rate was 3.3% for Norway and 2.0 % forSweden. The risk premium is calculated based on market statistics for comparable companies. The cash \ufb02ow forecast takes intoaccount both historical results, expected future growth rates, and market conditions. These budgets and forecast calculationsgenerally cover a period of five years. For Norway and Sweden, the underlying model calculates annual cash \ufb02ows perdepartment, based on periodised employee development, utilisation rate, expected trend in hourly rate, sales / management /overhead changes, wage growth and cost growth. The annualised compound growth rate over the next 4 year period is 2% foreach CGUs. The terminal growth rate used in calculating the terminal value is 2%.The EBITDA-margin in the Norway CGU is expected to be in line with historical levels, while the EBITDA-margin for the SwedenCGU is expected to be lower. The challenges in the Swedish market persists with prolonged sales cycles and reduced marketdemand. As a consequence, Webstep Sweden has during the second half year of 2023 reduced consultants in areas with lowermarket demand and downsized the number of non-billable FTEs. The Group expects the situation to have implications on theGroup's business activities.The impairment model has significant headroom between estimated value and carrying amount for the Norway CGU, butindicates impairment of NOK 25.0 million for the Sweden CGU.A sensitivity analysis was performed for the Sweden CGU where the following changes in key assumptions resulted in anadditional impairment of goodwill amounting to NOK 15.0 million.Original assumptionSensitivity analysisDiscount rates9.3%9.5%EBITDA-margin (terminal-value)3.6%2.6%Growth rate (terminal value)2.0%1.5%The potential changes in key assumptions are considered reasonably possible, due to the negative trend in theSwedish IT consultancy marked.Based on the impairment tests performed, net impairment losses recognised in 2023 amounted to NOK 25.0 millionrelated to Goodwill Sweden.The impairment of Goodwill Sweden is a result of the challenging Swedish ITconsultancy market. There are no indications that impairment is required for Norway.", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__81-1": { "value": "Note 11 Intangible assets and goodwillCash generating unitNOK'00020232022Norway313,575313,575Sweden44,61764,964358,192378,539Cost,NOK 000'sGoodwill NorwayGoodwill SwedenR&DTotalAt 1 January 2022313,57566,9717,573388,119Additions0000Disposals0000Exchange adjustment0(2,007)0(2,007)At 31 December 2022313,57564,9647,573386,112Additions0000Disposals0000Exchange adjustment04,65304,653At 31 December 2023313,57569,6177,573390,765Depreciation and impairmentAt January 1 202200(4,543)(4,543)Impairment0000Depreciation charge for the year00(1,515)(1,515)At 31 December 202200(6,058)(6,058)Impairment(25,000)00Depreciation charge for the year00(1,515)(1,515)At 31 December 20230(25,000)(7,573)(32,573)Net book valueAt 31 December 2022313,57564,9641,515380,054At 31 December 2023313,57544,617(0)358,192Useful 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 NOK58.6 million was added to goodwill respectively. Goodwill is not amortised, but tested yearly for impairment or when there areindications of impairment.The impairment test is conducted for each cash generating unit, by evaluating the present value of future cash \ufb02ows, based oncash \ufb02ow projections. The recoverable amount is set to the estimated value in use. The value in use is the net present value ofthe estimated cash \ufb02ow before tax, using a discount rate re\ufb02ecting the timing of the cash \ufb02ow and the expected risk.The calculation of value in use for goodwill related to the acquisition of Webstep AS and Webstep AB is most sensitive to thefollowing key assumptions:\u2022 Discount rates\u2022 EBITDA-margin\u2022 Growth rates used to extrapolate cash \ufb02ows beyond the forecast period.The calculated weighted average cost of capital (WACC) after tax (before tax) for Norway was 10.5 % (13.4 %) and 9.3% (11.7 %)for Sweden. It has been assessed that there is no significant difference in outcome by using pre- or post-tax calculations. Hence,the impairment test are performed based on an after-tax basis. The risk free interest rate was 3.3% for Norway and 2.0 % forSweden. The risk premium is calculated based on market statistics for comparable companies. The cash \ufb02ow forecast takes intoaccount both historical results, expected future growth rates, and market conditions. These budgets and forecast calculationsgenerally cover a period of five years. For Norway and Sweden, the underlying model calculates annual cash \ufb02ows perdepartment, based on periodised employee development, utilisation rate, expected trend in hourly rate, sales / management /overhead changes, wage growth and cost growth. The annualised compound growth rate over the next 4 year period is 2% foreach CGUs. The terminal growth rate used in calculating the terminal value is 2%.The EBITDA-margin in the Norway CGU is expected to be in line with historical levels, while the EBITDA-margin for the SwedenCGU is expected to be lower. The challenges in the Swedish market persists with prolonged sales cycles and reduced marketdemand. As a consequence, Webstep Sweden has during the second half year of 2023 reduced consultants in areas with lowermarket demand and downsized the number of non-billable FTEs. The Group expects the situation to have implications on theGroup's business activities.The impairment model has significant headroom between estimated value and carrying amount for the Norway CGU, butindicates impairment of NOK 25.0 million for the Sweden CGU.A sensitivity analysis was performed for the Sweden CGU where the following changes in key assumptions resulted in anadditional impairment of goodwill amounting to NOK 15.0 million.Original assumptionSensitivity analysisDiscount rates9.3%9.5%EBITDA-margin (terminal-value)3.6%2.6%Growth rate (terminal value)2.0%1.5%The potential changes in key assumptions are considered reasonably possible, due to the negative trend in theSwedish IT consultancy marked.Based on the impairment tests performed, net impairment losses recognised in 2023 amounted to NOK 25.0 millionrelated to Goodwill Sweden.The impairment of Goodwill Sweden is a result of the challenging Swedish ITconsultancy market. There are no indications that impairment is required for Norway.Note 12 Fixed assetsEquipment,Cost,fixtures andRight-of-useNOK'000furnitureassetsTotalAt 1 January 202233,77972,520106,299Additions10,72419,13629,860Disposals0(4,179)(4,179)Exchange adjustment0(508)(508)Cost at 31 December 202244,50386,968131,471Cost at 1 January 202344,50386,968131,471Additions5,48145,09950,580Disposals0(1,934)(1,934)Exchange adjustment01,2321,232Cost at 31 December 202349,984131,365181,349Depreciation and impairmentAt 1 January 2022(23,423)(9,971)(33,395)Disposals01,5000Impairment0(1,785)0Depreciation charge for the year(6,626)(11,654)(18,280)Exchange adjustment(7)00Other000At 31 December 2022(30,056)(21,908)(51,965)Disposals01,4671,467Impairment000Depreciation charge for the year(7,656)(13,014)(20,670)Exchange adjustment36036Other000At 31 December 2023(37,676)(33,455)(71,132)Net book valueAt 31 December 202214,44765,06079,507At 31 December 202312,30997,910110,220Useful life3 - 5 year1-10 yearDepreciation methodStraight lineAmortisation", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__87": { "value": "Note 12 Fixed assetsEquipment,Cost,fixtures andRight-of-useNOK'000furnitureassetsTotalAt 1 January 202233,77972,520106,299Additions10,72419,13629,860Disposals0(4,179)(4,179)Exchange adjustment0(508)(508)Cost at 31 December 202244,50386,968131,471Cost at 1 January 202344,50386,968131,471Additions5,48145,09950,580Disposals0(1,934)(1,934)Exchange adjustment01,2321,232Cost at 31 December 202349,984131,365181,349Depreciation and impairmentAt 1 January 2022(23,423)(9,971)(33,395)Disposals01,5000Impairment0(1,785)0Depreciation charge for the year(6,626)(11,654)(18,280)Exchange adjustment(7)00Other000At 31 December 2022(30,056)(21,908)(51,965)Disposals01,4671,467Impairment000Depreciation charge for the year(7,656)(13,014)(20,670)Exchange adjustment36036Other000At 31 December 2023(37,676)(33,455)(71,132)Net book valueAt 31 December 202214,44765,06079,507At 31 December 202312,30997,910110,220Useful life3 - 5 year1-10 yearDepreciation methodStraight lineAmortisation", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__89": { "value": "Note 13 Financial assets \u2013 non-current vs currentThe only non-current, financial asset is a deposit.Financial assets,NOK'00020232022Other long term deposit22Total22", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__90": { "value": "Note 14 Trade and other receivablesTrade and other receivablesNOK'00020232022Trade receivables - net of related parties157,510146,730Provision for bad debt(1,495)(988)Trade Receivables net of provision156,015145,742Prepayments and other receivables5,3489,129Receivables from related parties00Payables to related parties00Total trade receivables and prepayments161,363154,871Of which long-term receivables from related parties00Short-term Receivables and prepayments161,363154,871Specification of receivablesNOK'00020232022Trade receivables155,464143,550Accrued income(78)2,192Other receivables00Trade and other receivables155,386145,742Prepaid costs5,2398,222Prepaid public duty debt110142Prepaid rent628765Prepayments5,9779,129Total receivables and prepayments161,363154,871Due dates and fair value of trade and otherreceivablesNOK'00020232022Due within one year*)161,363154,871After one year **)00Fair Value161,363154,871*) 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 fair value.The group has a bad debt provision of NOK 1,495 million in 2023, increased from NOK 0.99 million in 202230-60NOK'000TotalNot due<30 daysdays>60 days2023157,510104,16650,6679131,7642022146,73099,95742,2021,1743,395", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__94": { "value": "Note 15 Cash and short-term depositsCash and Cash Equivalents,NOK'00020232022Cash in bank75,50962,340Cash equivalents00Total Cash and Cash Equivalents75,50962,340Utilised bank overdraft00Net Cash and Cash Equivalents/Bank overdraft75,50962,340Of which Restricted Cash:Guarantees for leases and credits from suppliers1,2171,116Taxes withheld705581Other restricted cash00Total Restricted Cash1,9221,697For 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__92": { "value": "Note 15 Cash and short-term depositsCash and Cash Equivalents,NOK'00020232022Cash in bank75,50962,340Cash equivalents00Total Cash and Cash Equivalents75,50962,340Utilised bank overdraft00Net Cash and Cash Equivalents/Bank overdraft75,50962,340Of which Restricted Cash:Guarantees for leases and credits from suppliers1,2171,116Taxes withheld705581Other restricted cash00Total Restricted Cash1,9221,697For 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__99": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20232022No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,67127,628No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,62827,322Issued42306At 31 December27,67127,628No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(30)(54)Sale of treasury shares24At 31 December(30)(30)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 2022/202110,28416,212Foreign currency translation(2,589)(5,929)At 31 December 2022/20217,69510,284Foreign currency translation6,280(2,589)At 31 December 2023/202213,9767,69520232022Share capital27,67127,628Treasury shares(30)(29)Share premium179,938179,190Retained earnings137,627178,918Non-controlling interest00Shareholders equity inclusive currency translation359,181395,990Shareholder nameSharesOwnershipVoting rightsEMBRO EIENDOM AS8,312,72730.0%30.1%HVALER INVEST AS2,002,1527.2%7.2%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,535,2585.5%5.6%PROTECTOR FORSIKRING ASA1,443,8605.2%5.2%VPF FONDSFINANS UTBYTTE1,100,0004.0%4.0%JAKOB HATTELAND HOLDING AS1,000,0003.6%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%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%EUROVEST AS280,7071.0%1.0%Bank Pictet & Cie (Europe) AG232,6750.8%0.8%MP PENSJON PK224,0000.8%0.8%LEROLI AS197,2810.7%0.7%Saxo Bank A/S155,0740.6%0.6%BUGS AS126,7360.5%0.5%Other shareholders5,062,79518.3%18.3%Total number of shares excluding treasury shares27,640,97699.89%100.00%Treasury shares as of 31 December 202329,9830.1%Total shares issued27,670,959100.00%Shareholding by board members, management and their related parties as of 31 December 2023SharesOwnershipVoting rightsAnders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Arnt Roger Aasen (Aravi AS and privately held)26,0320.09%0.09%Dagfinn Haslebrekk7,6180.03%0.03%David Bjerkeli (Fjellhammer Invest AS)11,5000.04%0.04%Erlend N\u00e6vdal8450.00%0.00%Ida Amalie Oma8450.00%0.00%Jacob Cardell (Nominee)20,0200.07%0.07%Joar Krohn (Kronoko Holding AS and privately held)99,3200.36%0.36%Kjell Magne Leirgulen (KML Invest AS)25,0000.09%0.09%Kjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Kjell Magne Leirgulen is employed by Embron Group ASDavid Bjerkeli is employed by Hvaler Invest ASWebstep 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__98": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20232022No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,67127,628No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,62827,322Issued42306At 31 December27,67127,628No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(30)(54)Sale of treasury shares24At 31 December(30)(30)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 2022/202110,28416,212Foreign currency translation(2,589)(5,929)At 31 December 2022/20217,69510,284Foreign currency translation6,280(2,589)At 31 December 2023/202213,9767,69520232022Share capital27,67127,628Treasury shares(30)(29)Share premium179,938179,190Retained earnings137,627178,918Non-controlling interest00Shareholders equity inclusive currency translation359,181395,990Shareholder nameSharesOwnershipVoting rightsEMBRO EIENDOM AS8,312,72730.0%30.1%HVALER INVEST AS2,002,1527.2%7.2%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,535,2585.5%5.6%PROTECTOR FORSIKRING ASA1,443,8605.2%5.2%VPF FONDSFINANS UTBYTTE1,100,0004.0%4.0%JAKOB HATTELAND HOLDING AS1,000,0003.6%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%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%EUROVEST AS280,7071.0%1.0%Bank Pictet & Cie (Europe) AG232,6750.8%0.8%MP PENSJON PK224,0000.8%0.8%LEROLI AS197,2810.7%0.7%Saxo Bank A/S155,0740.6%0.6%BUGS AS126,7360.5%0.5%Other shareholders5,062,79518.3%18.3%Total number of shares excluding treasury shares27,640,97699.89%100.00%Treasury shares as of 31 December 202329,9830.1%Total shares issued27,670,959100.00%Shareholding by board members, management and their related parties as of 31 December 2023SharesOwnershipVoting rightsAnders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Arnt Roger Aasen (Aravi AS and privately held)26,0320.09%0.09%Dagfinn Haslebrekk7,6180.03%0.03%David Bjerkeli (Fjellhammer Invest AS)11,5000.04%0.04%Erlend N\u00e6vdal8450.00%0.00%Ida Amalie Oma8450.00%0.00%Jacob Cardell (Nominee)20,0200.07%0.07%Joar Krohn (Kronoko Holding AS and privately held)99,3200.36%0.36%Kjell Magne Leirgulen (KML Invest AS)25,0000.09%0.09%Kjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Kjell Magne Leirgulen is employed by Embron Group ASDavid Bjerkeli is employed by Hvaler Invest ASWebstep 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__97": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20232022No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,67127,628No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,62827,322Issued42306At 31 December27,67127,628No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(30)(54)Sale of treasury shares24At 31 December(30)(30)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 2022/202110,28416,212Foreign currency translation(2,589)(5,929)At 31 December 2022/20217,69510,284Foreign currency translation6,280(2,589)At 31 December 2023/202213,9767,69520232022Share capital27,67127,628Treasury shares(30)(29)Share premium179,938179,190Retained earnings137,627178,918Non-controlling interest00Shareholders equity inclusive currency translation359,181395,990Shareholder nameSharesOwnershipVoting rightsEMBRO EIENDOM AS8,312,72730.0%30.1%HVALER INVEST AS2,002,1527.2%7.2%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,535,2585.5%5.6%PROTECTOR FORSIKRING ASA1,443,8605.2%5.2%VPF FONDSFINANS UTBYTTE1,100,0004.0%4.0%JAKOB HATTELAND HOLDING AS1,000,0003.6%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%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%EUROVEST AS280,7071.0%1.0%Bank Pictet & Cie (Europe) AG232,6750.8%0.8%MP PENSJON PK224,0000.8%0.8%LEROLI AS197,2810.7%0.7%Saxo Bank A/S155,0740.6%0.6%BUGS AS126,7360.5%0.5%Other shareholders5,062,79518.3%18.3%Total number of shares excluding treasury shares27,640,97699.89%100.00%Treasury shares as of 31 December 202329,9830.1%Total shares issued27,670,959100.00%Shareholding by board members, management and their related parties as of 31 December 2023SharesOwnershipVoting rightsAnders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Arnt Roger Aasen (Aravi AS and privately held)26,0320.09%0.09%Dagfinn Haslebrekk7,6180.03%0.03%David Bjerkeli (Fjellhammer Invest AS)11,5000.04%0.04%Erlend N\u00e6vdal8450.00%0.00%Ida Amalie Oma8450.00%0.00%Jacob Cardell (Nominee)20,0200.07%0.07%Joar Krohn (Kronoko Holding AS and privately held)99,3200.36%0.36%Kjell Magne Leirgulen (KML Invest AS)25,0000.09%0.09%Kjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Kjell Magne Leirgulen is employed by Embron Group ASDavid Bjerkeli is employed by Hvaler Invest ASWebstep 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__96": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20232022No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,67127,628No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,62827,322Issued42306At 31 December27,67127,628No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(30)(54)Sale of treasury shares24At 31 December(30)(30)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 2022/202110,28416,212Foreign currency translation(2,589)(5,929)At 31 December 2022/20217,69510,284Foreign currency translation6,280(2,589)At 31 December 2023/202213,9767,69520232022Share capital27,67127,628Treasury shares(30)(29)Share premium179,938179,190Retained earnings137,627178,918Non-controlling interest00Shareholders equity inclusive currency translation359,181395,990Shareholder nameSharesOwnershipVoting rightsEMBRO EIENDOM AS8,312,72730.0%30.1%HVALER INVEST AS2,002,1527.2%7.2%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,535,2585.5%5.6%PROTECTOR FORSIKRING ASA1,443,8605.2%5.2%VPF FONDSFINANS UTBYTTE1,100,0004.0%4.0%JAKOB HATTELAND HOLDING AS1,000,0003.6%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%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%EUROVEST AS280,7071.0%1.0%Bank Pictet & Cie (Europe) AG232,6750.8%0.8%MP PENSJON PK224,0000.8%0.8%LEROLI AS197,2810.7%0.7%Saxo Bank A/S155,0740.6%0.6%BUGS AS126,7360.5%0.5%Other shareholders5,062,79518.3%18.3%Total number of shares excluding treasury shares27,640,97699.89%100.00%Treasury shares as of 31 December 202329,9830.1%Total shares issued27,670,959100.00%Shareholding by board members, management and their related parties as of 31 December 2023SharesOwnershipVoting rightsAnders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Arnt Roger Aasen (Aravi AS and privately held)26,0320.09%0.09%Dagfinn Haslebrekk7,6180.03%0.03%David Bjerkeli (Fjellhammer Invest AS)11,5000.04%0.04%Erlend N\u00e6vdal8450.00%0.00%Ida Amalie Oma8450.00%0.00%Jacob Cardell (Nominee)20,0200.07%0.07%Joar Krohn (Kronoko Holding AS and privately held)99,3200.36%0.36%Kjell Magne Leirgulen (KML Invest AS)25,0000.09%0.09%Kjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Kjell Magne Leirgulen is employed by Embron Group ASDavid Bjerkeli is employed by Hvaler Invest ASWebstep 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__95": { "value": "Note 16 Shareholders capital and largest shareholdersNOK 000'sShare capitalThe Company has only one share class and all shares have equal voting rights.20232022No. ofNo. ofAuthorisedthousandsthousandsOrdinary shares of NOK 1 each27,67127,628No. ofNo. ofOrdinary sharesthousandsthousandsIssued and fully paid:At 1 January27,62827,322Issued42306At 31 December27,67127,628No. ofNo. ofTreasury sharesthousandsthousandsAt 1 January(30)(54)Sale of treasury shares24At 31 December(30)(30)Foreign currency translation reserveNOK 000'sNOK 000'sAt 1 January 2022/202110,28416,212Foreign currency translation(2,589)(5,929)At 31 December 2022/20217,69510,284Foreign currency translation6,280(2,589)At 31 December 2023/202213,9767,69520232022Share capital27,67127,628Treasury shares(30)(29)Share premium179,938179,190Retained earnings137,627178,918Non-controlling interest00Shareholders equity inclusive currency translation359,181395,990Shareholder nameSharesOwnershipVoting rightsEMBRO EIENDOM AS8,312,72730.0%30.1%HVALER INVEST AS2,002,1527.2%7.2%J.P. Morgan SE1,970,8907.1%7.1%SALT VALUE AS1,535,2585.5%5.6%PROTECTOR FORSIKRING ASA1,443,8605.2%5.2%VPF FONDSFINANS UTBYTTE1,100,0004.0%4.0%JAKOB HATTELAND HOLDING AS1,000,0003.6%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%INTERTRADE SHIPPING AS400,0001.4%1.4%Danske Bank A/S320,0001.2%1.2%ESPEDAL & CO AS308,9801.1%1.1%EUROVEST AS280,7071.0%1.0%Bank Pictet & Cie (Europe) AG232,6750.8%0.8%MP PENSJON PK224,0000.8%0.8%LEROLI AS197,2810.7%0.7%Saxo Bank A/S155,0740.6%0.6%BUGS AS126,7360.5%0.5%Other shareholders5,062,79518.3%18.3%Total number of shares excluding treasury shares27,640,97699.89%100.00%Treasury shares as of 31 December 202329,9830.1%Total shares issued27,670,959100.00%Shareholding by board members, management and their related parties as of 31 December 2023SharesOwnershipVoting rightsAnders H\u00f8ibakk7,6150.03%0.03%Arne Sv\u00e6ren-Bryne5,6370.02%0.02%Arnt Roger Aasen (Aravi AS and privately held)26,0320.09%0.09%Dagfinn Haslebrekk7,6180.03%0.03%David Bjerkeli (Fjellhammer Invest AS)11,5000.04%0.04%Erlend N\u00e6vdal8450.00%0.00%Ida Amalie Oma8450.00%0.00%Jacob Cardell (Nominee)20,0200.07%0.07%Joar Krohn (Kronoko Holding AS and privately held)99,3200.36%0.36%Kjell Magne Leirgulen (KML Invest AS)25,0000.09%0.09%Kjetil Bakke Eriksen (Suelo AS)26,9250.10%0.10%Siw \u00d8degaard (Kvinnesiden AS)13,0250.05%0.05%Kjell Magne Leirgulen is employed by Embron Group ASDavid Bjerkeli is employed by Hvaler Invest ASWebstep 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__100": { "value": "Note 17 Interest bearing loans and borrowingsThe 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 cash poolingstructure are presented as a net figure for the Group: As cash and short term receivables if the net balance is positive, or debt to creditinstitutions 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 interest rate isbased on 3 months NIBOR in addition to an agreed margin of 2.25 per cent per annum. The interest calculation is based on the net ofcash and overdraft. The annual charge for the credit facility is 0.5 per cent of the granted credit. Under the RCF, the Company has pledgedsecurity over the shares, inventory, insurance payouts and accounts receivable in Webstep AS and negative pledge over the shares inWebstep AB.Covenant conditions: Book equity for the Group shall consist of at least 30 per cent of total capital, measured quarterly. Ratio of NIBD /EBITDA maximum 3, measured quarterly, rolling 12 months.Webstep AB has a local revolving credit facility of SEK 5 million which was unutilised 31 December 2023.NOK'00020232022Non-current borrowingsDebt to credit institutions00Lease liabilities80,32252,933Current borrowingsDebt to credit institutions00Lease liabilities17,69313,153Total borrowings98,01666,087NOK'00020232022Booked value of assets pledged as securityShares407,119432,119Fixed assets12,30914,447Receivables156,015145,742Cash75,50962,340Total650,952654,648Other financial liabilities at amortised cost, other than interest-bearing loans and borrowingsNOK'00020232022Trade payables19,81315,215Social Taxes and VAT91,87381,524Received prepayments of revenues486757Total financial liabilities210,188163,583Total current210,188163,583Total non-current00Other short-term debt mainly consists of;1) accrued salaries for the past month, for payment to employees in accordance withthe salary model,2) accrued holiday pay as required by law, for payment to employees in June thefollowing year.Changes in liabilities arising from financing activitiesChangesforeignexchangeYear ended 20221 Jan 2022Cash \ufb02owsrateOther31 Dec 2022Debt to credit institutions non-current00000Lease liabilities non-current and current (note 24)61,537(11,481)(508)16,54066,088Debt to credit institutions current00000Total liabilities from financing activities61,537(11,481)(508)16,54066,088ChangesforeignexchangeYear ended 20231 Jan 2023Cash \ufb02owsrateOther31 Dec 2023Debt to credit institutions non-current00000Lease liabilities non-current and current (note 24)66,088(12,887)1,23243,58498,015Debt to credit institutions current00000Total liabilities from financing activities66,088(12,887)1,23243,58498,015", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__104": { "value": "Note 18 Trade and other payablesNOK 000's20232022Trade and other payables19,81315,215Social Taxes and VAT91,87381,524Accrued vacation pay (note 19)58,62351,572Accrued expenses including salaries payable (note 19)69,99456,898Other current payables (note 19)550941Total Trade and Other Payables240,853206,150Terms and conditions of the above 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, see Note 21", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__103-1": { "value": "Note 18 Trade and other payablesNOK 000's20232022Trade and other payables19,81315,215Social Taxes and VAT91,87381,524Accrued vacation pay (note 19)58,62351,572Accrued expenses including salaries payable (note 19)69,99456,898Other current payables (note 19)550941Total Trade and Other Payables240,853206,150Terms and conditions of the above 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, see Note 21Note 19 Other short-term debtNOK 000's20232022Salaries payable, vacation pay, bonus etc.123,851103,233Other accrued expenses4,7665,237Received prepayments of revenues486757Other64184Total other short-term debt129,167109,411Note 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 purchase option,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 its incremental borrowing rate for all leases except where rates are implicit in the contracts for company cars.The weighted, average incremental borrowing rate applied at December 2023 is 7,0%.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 20239,52712,01765,42386,968Addition of right-of-use assets2,175039,63341,808Disposal of right-of-use assets(1,934)00(1,934)Adjustment of estimates01,2662,0253,291Currency exchange differences56466801,232Acquisition cost 31 December 202310,33213,951107,081131,365Accumulated depreciation 1 January 20231,4834,20116,22421,908Accumulated depreciation on disposals(451)0(1,017)(1,468)Impairment0000Depreciation for the period1,7432,5228,74913,014Accumulated depreciation 31 December 20232,7756,72323,95633,454Carrying amount of right-of-use assets 31 December 20237,5577,22783,12497,910Acquisition 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 20228,0457,81549,19965,060Lower of remaining lease term or economic life1-3 years1-5 years1-5 yearsDepreciation methodAmortisationAmortisationAmortisationExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses398Low-value assets lease expenses54Variable lease expenses in the period (not included in the lease liabilities)5,145Total lease expenses in the period related to practical expedients and variable payments5,597Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to bemade over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any lease incentivesreceivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees.The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and paymentsof penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option to terminate.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 the leaseis not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretion of interestand reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, achange in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rateused to determine such lease payments) or a change in theassessment of an option to purchase the underlying asset.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., those leasesthat 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 equipment thatare considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised as expenses on astraight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year3,2793,32516,15422,7581-2 years2,4692,95915,11220,5402-3 years1,8391,23415,30718,3803-4 years55313,60014,1534-5 years010,13610,136More than 5 years38,07838,078Total undiscounted lease liabilities at 31 December 20237,5878,071108,387124,045The 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 andwhen it is reasonably certain that the option to terminate will be exercisedA 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 2023Financial position7,4657,68850,95466,107New leases liabilities recognised in the yearFinancial position1,268039,63340,901Adjustment of estimatesFinancial position01,2662,0253,291Prepaid leasing expensesFinancial position(632)00(632)Cash payments for lease liabilitiesCash \ufb02ows(1,743)(2,395)(8,749)(12,887)Currency exchange differencesFInancial position56466801,232Total lease liabilities 31 December 2023Financial position6,9227,22783,86398,012Current lease liabilitiesFinancial position2,9022,96611,82617,694Non-current lease liabilitiesFinancial position4,0248,91767,37780,318Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,869)(2,395)(8,749)(13,013)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows127127Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(408)(416)(3,147)(3,971)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(2,150)(2,811)(11,896)(16,856)Cash out\ufb02ows recognised related to practical expedients andvariable payments(5,597)Total cash out\ufb02ows for leases(22,453)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.See note 17 for further details on non-current and current liabilities.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 as having 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 to the estimated value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st4.75%6.75%2.75%Estimated value December 31st 202390,35284,58596,762Deviation from applied estimate: Amount5,767(6,410)Deviation from applied estimate: Percent6.4%(7.1%)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 31st4,5%6,5%2,5%Estimated value December 31st 20237,5587,1717,993Deviation from applied estimate: Amount(387)435Deviation from applied estimate: Percent(5.1%)5.8%", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__102-1": { "value": "Note 18 Trade and other payablesNOK 000's20232022Trade and other payables19,81315,215Social Taxes and VAT91,87381,524Accrued vacation pay (note 19)58,62351,572Accrued expenses including salaries payable (note 19)69,99456,898Other current payables (note 19)550941Total Trade and Other Payables240,853206,150Terms and conditions of the above 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, see Note 21Note 19 Other short-term debtNOK 000's20232022Salaries payable, vacation pay, bonus etc.123,851103,233Other accrued expenses4,7665,237Received prepayments of revenues486757Other64184Total other short-term debt129,167109,411", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__101-1": { "value": "Note 18 Trade and other payablesNOK 000's20232022Trade and other payables19,81315,215Social Taxes and VAT91,87381,524Accrued vacation pay (note 19)58,62351,572Accrued expenses including salaries payable (note 19)69,99456,898Other current payables (note 19)550941Total Trade and Other Payables240,853206,150Terms and conditions of the above 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, see Note 21Note 19 Other short-term debtNOK 000's20232022Salaries payable, vacation pay, bonus etc.123,851103,233Other accrued expenses4,7665,237Received prepayments of revenues486757Other64184Total other short-term debt129,167109,411", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__109": { "value": "Note 20 Related party disclosureThe consolidated financial statements of the Group include:% Equity interestCountry ofNamein-corporationBusiness Address20232022Webstep 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 for remunerationto management (see note 7 in the Annual Report and the Remuneration Report available on www.webstep.no).", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__108": { "value": "Note 20 Related party disclosureThe consolidated financial statements of the Group include:% Equity interestCountry ofNamein-corporationBusiness Address20232022Webstep 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 for remunerationto management (see note 7 in the Annual Report and the Remuneration Report available on www.webstep.no).", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__110": { "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 inorder to support its business objectives. The policies shall ensure su\ufb03cient, financial \ufb02exibility. The objectives for capitalmanagement are regarded as achieved as of 31 December 2023.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 BeforeInterest Tax Depreciation and Amortisation (EBITDA) as part of the capital management to ensure the Group is complying withcurrent covenants.", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__111": { "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 between 2018 and 2022.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.Long-term incentive programme (\u201cLTI\u201d)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, 78,000 were terminated during2022 and 13,000 were terminated during 2023.The options will vest, or have vested, in the following tranches:- 123,500 options vested 24 November 2021- 97,500 options vest 24 November 2022- 182,000 options vest 24 November 202398,000 options were granted 10 February 2021, whereof 49,000 were terminated during 2023.The options will vest, or have vested, in the following tranches:- 24,500 options vested 10 February 2022- 24,500 options vest 10 February 202326,000 options were granted 26 May 2021, the options will vest, or have vested, 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 and 75,000 were terminatedduring 2023.The options will vest, or have vested, in the following tranches:- 131,250 options vested 25 November 2022- 131,250 options vest 25 November 2023- 212,500 options vest 25 November 202425,000 options were granted 21 February 2022.The options will vest, or have vested, 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 131,740 shares. 42,461 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'00020232022Expense arising from equity-settled share-based payment1,2343,606transactions related to the Long-term incentiveprogrammeSocial security tax provisions-187-1,122Granted instruments:OptionOptionQuantity0,0025,000Contractual life*55Strike price*036.64Share price*0.0033.00Expected lifetime*03.25Expected volatility*0.00%34.98%Risk-free interest rate*0.00%1.88%Dividend yield00Model usedBlack-ScholBlack-ScholesesFair value per instrument*07.54*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 the actualoutcome.ExpensesThe expenses recognised for equity settled share-based payment transactions under the programs during the year are presentedin the table below:NOK'00020232022Expenses related to the Employee Share Purchase03,569Programme (ESPP)Expenses related to the Long-term Incentive Programme1,2343,606(LTI)Total share based payment expenses in the period1,2347,175Social security tax expense for the period-187-1,122Social security tax accrual for the period71658Number of discounted shares sold through the EmployeeShare Purchase Programme (ESPP)0232,103Discounted share price026.6 NOK/shareWeighted average fair value of each discounted sharesold through the ESPP09Movements 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:2023202320222022Long-term incentive programmeNumber ofWeighted AverageNumber ofWeighted AverageinstrumentsStrike PriceinstrumentsStrike PriceOutstanding at 1 January1,344,63124.441,707,66625.28Granted00.0025,00034.94Exercised42,46118.34163,15119.41ReleasedAdjustedPerformance AdjustedCancelledTerminated(137,000)26.94(224,884)26.07Expired0.00Outstanding at 31 December1,165,1701,344,631Vested at 31 December920,92022.09619,13122.43The weighted average remaining contractual lifeThe weighted average exercise prices for options24.36outstanding26.04Total shareoptions perGrantedNumber of share optionsTitle31.12.23Granted 20232022Erlend N\u00e6vdalDirector Business Development, until December 202325,000-25,000The options were granted on the 21 February 2022.At 31 December 2023 a total of 350,500 remaining options to key employees have vested. During the year 42,461vested shares have been exercised by key employees, and 137,000 non-vested share options have been terminated dueto resignations of key employees.", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__112": { "value": "Note 23 Earnings per shareNOK'00020232022Profit for the year4,44438,436Average number of shares outstanding27,63427,391Average number of outstanding shares, fully diluted27,86227,663Basic earnings per share (NOK/Share)0.161.40Diluted earnings per share0.161.39Average number of shares outstanding27,63427,391Average dilutive effects228272Warrants--Average number of shares outstanding adjusted for dilutive effects27,86227,663Dilutive effect of options issued 18 November 201959,94770,372Dilutive effect of options issued 24 November 202057,84169,054Dilutive effect of options issued 10 February 202113,95116,122Dilutive effect of options issued 26 May 2021-Dilutive 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__116": { "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 purchase option,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 its incremental borrowing rate for all leases except where rates are implicit in the contracts for company cars.The weighted, average incremental borrowing rate applied at December 2023 is 7,0%.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 20239,52712,01765,42386,968Addition of right-of-use assets2,175039,63341,808Disposal of right-of-use assets(1,934)00(1,934)Adjustment of estimates01,2662,0253,291Currency exchange differences56466801,232Acquisition cost 31 December 202310,33213,951107,081131,365Accumulated depreciation 1 January 20231,4834,20116,22421,908Accumulated depreciation on disposals(451)0(1,017)(1,468)Impairment0000Depreciation for the period1,7432,5228,74913,014Accumulated depreciation 31 December 20232,7756,72323,95633,454Carrying amount of right-of-use assets 31 December 20237,5577,22783,12497,910Acquisition 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 20228,0457,81549,19965,060Lower of remaining lease term or economic life1-3 years1-5 years1-5 yearsDepreciation methodAmortisationAmortisationAmortisationExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses398Low-value assets lease expenses54Variable lease expenses in the period (not included in the lease liabilities)5,145Total lease expenses in the period related to practical expedients and variable payments5,597Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to bemade over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any lease incentivesreceivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees.The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and paymentsof penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option to terminate.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 the leaseis not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretion of interestand reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, achange in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rateused to determine such lease payments) or a change in theassessment of an option to purchase the underlying asset.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., those leasesthat 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 equipment thatare considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised as expenses on astraight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year3,2793,32516,15422,7581-2 years2,4692,95915,11220,5402-3 years1,8391,23415,30718,3803-4 years55313,60014,1534-5 years010,13610,136More than 5 years38,07838,078Total undiscounted lease liabilities at 31 December 20237,5878,071108,387124,045The 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 andwhen it is reasonably certain that the option to terminate will be exercisedA 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 2023Financial position7,4657,68850,95466,107New leases liabilities recognised in the yearFinancial position1,268039,63340,901Adjustment of estimatesFinancial position01,2662,0253,291Prepaid leasing expensesFinancial position(632)00(632)Cash payments for lease liabilitiesCash \ufb02ows(1,743)(2,395)(8,749)(12,887)Currency exchange differencesFInancial position56466801,232Total lease liabilities 31 December 2023Financial position6,9227,22783,86398,012Current lease liabilitiesFinancial position2,9022,96611,82617,694Non-current lease liabilitiesFinancial position4,0248,91767,37780,318Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,869)(2,395)(8,749)(13,013)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows127127Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(408)(416)(3,147)(3,971)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(2,150)(2,811)(11,896)(16,856)Cash out\ufb02ows recognised related to practical expedients andvariable payments(5,597)Total cash out\ufb02ows for leases(22,453)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.See note 17 for further details on non-current and current liabilities.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 as having 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 to the estimated value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st4.75%6.75%2.75%Estimated value December 31st 202390,35284,58596,762Deviation from applied estimate: Amount5,767(6,410)Deviation from applied estimate: Percent6.4%(7.1%)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 31st4,5%6,5%2,5%Estimated value December 31st 20237,5587,1717,993Deviation from applied estimate: Amount(387)435Deviation from applied estimate: Percent(5.1%)5.8%", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__115": { "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 purchase option,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 its incremental borrowing rate for all leases except where rates are implicit in the contracts for company cars.The weighted, average incremental borrowing rate applied at December 2023 is 7,0%.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 20239,52712,01765,42386,968Addition of right-of-use assets2,175039,63341,808Disposal of right-of-use assets(1,934)00(1,934)Adjustment of estimates01,2662,0253,291Currency exchange differences56466801,232Acquisition cost 31 December 202310,33213,951107,081131,365Accumulated depreciation 1 January 20231,4834,20116,22421,908Accumulated depreciation on disposals(451)0(1,017)(1,468)Impairment0000Depreciation for the period1,7432,5228,74913,014Accumulated depreciation 31 December 20232,7756,72323,95633,454Carrying amount of right-of-use assets 31 December 20237,5577,22783,12497,910Acquisition 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 20228,0457,81549,19965,060Lower of remaining lease term or economic life1-3 years1-5 years1-5 yearsDepreciation methodAmortisationAmortisationAmortisationExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses398Low-value assets lease expenses54Variable lease expenses in the period (not included in the lease liabilities)5,145Total lease expenses in the period related to practical expedients and variable payments5,597Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to bemade over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any lease incentivesreceivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees.The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and paymentsof penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option to terminate.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 the leaseis not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretion of interestand reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, achange in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rateused to determine such lease payments) or a change in theassessment of an option to purchase the underlying asset.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., those leasesthat 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 equipment thatare considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised as expenses on astraight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year3,2793,32516,15422,7581-2 years2,4692,95915,11220,5402-3 years1,8391,23415,30718,3803-4 years55313,60014,1534-5 years010,13610,136More than 5 years38,07838,078Total undiscounted lease liabilities at 31 December 20237,5878,071108,387124,045The 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 andwhen it is reasonably certain that the option to terminate will be exercisedA 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 2023Financial position7,4657,68850,95466,107New leases liabilities recognised in the yearFinancial position1,268039,63340,901Adjustment of estimatesFinancial position01,2662,0253,291Prepaid leasing expensesFinancial position(632)00(632)Cash payments for lease liabilitiesCash \ufb02ows(1,743)(2,395)(8,749)(12,887)Currency exchange differencesFInancial position56466801,232Total lease liabilities 31 December 2023Financial position6,9227,22783,86398,012Current lease liabilitiesFinancial position2,9022,96611,82617,694Non-current lease liabilitiesFinancial position4,0248,91767,37780,318Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,869)(2,395)(8,749)(13,013)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows127127Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(408)(416)(3,147)(3,971)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(2,150)(2,811)(11,896)(16,856)Cash out\ufb02ows recognised related to practical expedients andvariable payments(5,597)Total cash out\ufb02ows for leases(22,453)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.See note 17 for further details on non-current and current liabilities.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 as having 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 to the estimated value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st4.75%6.75%2.75%Estimated value December 31st 202390,35284,58596,762Deviation from applied estimate: Amount5,767(6,410)Deviation from applied estimate: Percent6.4%(7.1%)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 31st4,5%6,5%2,5%Estimated value December 31st 20237,5587,1717,993Deviation from applied estimate: Amount(387)435Deviation from applied estimate: Percent(5.1%)5.8%", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__113": { "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 purchase option,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 its incremental borrowing rate for all leases except where rates are implicit in the contracts for company cars.The weighted, average incremental borrowing rate applied at December 2023 is 7,0%.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 20239,52712,01765,42386,968Addition of right-of-use assets2,175039,63341,808Disposal of right-of-use assets(1,934)00(1,934)Adjustment of estimates01,2662,0253,291Currency exchange differences56466801,232Acquisition cost 31 December 202310,33213,951107,081131,365Accumulated depreciation 1 January 20231,4834,20116,22421,908Accumulated depreciation on disposals(451)0(1,017)(1,468)Impairment0000Depreciation for the period1,7432,5228,74913,014Accumulated depreciation 31 December 20232,7756,72323,95633,454Carrying amount of right-of-use assets 31 December 20237,5577,22783,12497,910Acquisition 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 20228,0457,81549,19965,060Lower of remaining lease term or economic life1-3 years1-5 years1-5 yearsDepreciation methodAmortisationAmortisationAmortisationExpenses in the period related to practical expedients and variable payments:NOK'000TotalShort-term lease expenses398Low-value assets lease expenses54Variable lease expenses in the period (not included in the lease liabilities)5,145Total lease expenses in the period related to practical expedients and variable payments5,597Lease liabilitiesAt the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to bemade over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any lease incentivesreceivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees.The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and paymentsof penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option to terminate.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 the leaseis not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretion of interestand reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, achange in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rateused to determine such lease payments) or a change in theassessment of an option to purchase the underlying asset.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., those leasesthat 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 equipment thatare considered to be low value. Lease payments on short-term leases and leases of low value assets are recognised as expenses on astraight-line basis over the lease term.Lease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsCompanyO\ufb03cesO\ufb03cesNOK '000carsSwedenNorwayTotalLess than 1 year3,2793,32516,15422,7581-2 years2,4692,95915,11220,5402-3 years1,8391,23415,30718,3803-4 years55313,60014,1534-5 years010,13610,136More than 5 years38,07838,078Total undiscounted lease liabilities at 31 December 20237,5878,071108,387124,045The 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 andwhen it is reasonably certain that the option to terminate will be exercisedA 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 2023Financial position7,4657,68850,95466,107New leases liabilities recognised in the yearFinancial position1,268039,63340,901Adjustment of estimatesFinancial position01,2662,0253,291Prepaid leasing expensesFinancial position(632)00(632)Cash payments for lease liabilitiesCash \ufb02ows(1,743)(2,395)(8,749)(12,887)Currency exchange differencesFInancial position56466801,232Total lease liabilities 31 December 2023Financial position6,9227,22783,86398,012Current lease liabilitiesFinancial position2,9022,96611,82617,694Non-current lease liabilitiesFinancial position4,0248,91767,37780,318Cash out\ufb02ows for the principal portion of the lease liabilitiesCash \ufb02ows(1,869)(2,395)(8,749)(13,013)Cash out\ufb02ows prepayment of lease liabilitiesCash \ufb02ows127127Cash \ufb02ows/profit orCash out\ufb02ows Interest expense portion of the lease liabilitiesloss(408)(416)(3,147)(3,971)Total cash out\ufb02ows for leases recognised as leasesCash \ufb02ows(2,150)(2,811)(11,896)(16,856)Cash out\ufb02ows recognised related to practical expedients andvariable payments(5,597)Total cash out\ufb02ows for leases(22,453)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.See note 17 for further details on non-current and current liabilities.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 as having 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 to the estimated value on o\ufb03ce rentals.Changes in interest rateO\ufb03ce rentals ('000 NOK)Applied+200 BPS-200 BPSApplied NIBOR 3 month December 31st4.75%6.75%2.75%Estimated value December 31st 202390,35284,58596,762Deviation from applied estimate: Amount5,767(6,410)Deviation from applied estimate: Percent6.4%(7.1%)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 31st4,5%6,5%2,5%Estimated value December 31st 20237,5587,1717,993Deviation from applied estimate: Amount(387)435Deviation from applied estimate: Percent(5.1%)5.8%", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasePrepaymentsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__117": { "value": "Note 25 Contingencies and legal claimsThe Group has not been involved in any legal or financial disputes in 2023, where an adverse outcome is considered more likelythan remote.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__118": { "value": "Note 26 Distribution made and proposedNOK'00020232022Cash dividends on ordinary shares declared and paid:Final dividends27,64146,489Dividends per share1.001.70Proposed dividends on ordinary shares:Proposed dividends27,64146,990Dividends per share1.001.70", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s6_notes__6__120": { "value": "1", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "s6_notes__6__119": { "value": "1", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:213800IQHG9H6OHKI983", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "s6_notes__7__120": { "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" } }, "s6_notes__7__119": { "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" } }, "s6_notes__6__121": { "value": "Note 27 Events after the balance sheet dateSince 31 December 2023 and until the date of these financial 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": "2023-01-01T00:00:00/2024-01-01T00:00:00" } } } }