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"f0__s7__6__10": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__8": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__9": {
"value": "\u00d8kernveien 94, 0579 Oslo",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__11": {
"value": "The Medistim group\u2019s business is within developing, producing, service, leasing and distribution of medical devices",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__15": {
"value": "The board of Director\u2019s and the CEO authorized these financial statements for issue on April 8th 2025. The financial statement for the group is prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EU and effective as of 31.12.2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__19": {
"value": "The financial statement for the group is prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EU and effective as of 31.12.2024.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__17": {
"value": "The consolidated accounts have been prepared using consistent accounting policies for similar transactions and events. The accounting principles for the group for 2024 are the same as for the principles used in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__21": {
"value": "The group presents its financial statements in NOK. This is also the functional currency for the parent company. Asset and liabilities of subsidiaries with other functional currency than NOK, are translated to NOK using the exchange rate at the balance sheet date. For the income statement, the average monthly rate in the period is used. Translation differences arising from translation to presentation currency, is recognized in other comprehensive income and presented as \u201cother reserves\u201d in the balance sheet. Translation differences is recognized in profit and loss when the investment is sold.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfPresentationCurrency",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__20-1": {
"value": "The group presents its financial statements in NOK. This is also the functional currency for the parent company. Asset and liabilities of subsidiaries with other functional currency than NOK, are translated to NOK using the exchange rate at the balance sheet date. For the income statement, the average monthly rate in the period is used. Translation differences arising from translation to presentation currency, is recognized in other comprehensive income and presented as \u201cother reserves\u201d in the balance sheet. Translation differences is recognized in profit and loss when the investment is sold.Exchange rate differences on monetary assets and liabilities that in substance is part of the net investment in a foreign operation, is also included in translation differences.Transactions in foreign currency Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the transaction. Financial instruments in foreign currency are translated to Norwegian kroner at the closing rate of the balance day. Non-financial items measured at historic cost are translated to Norwegian kroner using the exchange rate at the time of the transaction.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__18": {
"value": "The group presents its financial statements in NOK. This is also the functional currency for the parent company. Asset and liabilities of subsidiaries with other functional currency than NOK, are translated to NOK using the exchange rate at the balance sheet date. For the income statement, the average monthly rate in the period is used. Translation differences arising from translation to presentation currency, is recognized in other comprehensive income and presented as \u201cother reserves\u201d in the balance sheet. Translation differences is recognized in profit and loss when the investment is sold.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__22": {
"value": "10.6 Use of estimates and judgementThe preparation of the consolidated financial statements requires management to make judgments, estimates and assumptions that impact the recognition and measurement of certain assets, liabilities, revenue and cost. The following area involves the most critical estimates and judgments for the company: \u2022 Research and development cost relating to internally developed technology and software \u201cNote 12 Intangible assets\u201d \u2022 Goodwill \u201cNote 12 Intangible assets\u201d \u2022 Deferred tax assets\u201dNote 10 Income tax\u201d \u2022 Inventory provision \u201cNote 14 Inventory\u201d \u2022 Provision for bad debt \u201cNote 15 Accounts receivables and other receivables\u201dThe global market is in macro-economic turmoil, with energy crisis, inflation pressure, increasing interest rates and higher cost levels. Non-current consequences of the growing geopolitical uncertainty are unclear but might lead to continuing challenges in the global flow of goods. Medistim is taking mitigating actions to ensure access to key components to secure production and maintain growth and profitability also for the future.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__24": {
"value": "10.7 New and amended standards effective from 2024 There are certain changes in standards IFRS 17, IFRS 16, IAS 1, and IAS 12. These do not impact the group\u2019s financial statements.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__23-1": {
"value": "10.7 New and amended standards effective from 2024 There are certain changes in standards IFRS 17, IFRS 16, IAS 1, and IAS 12. These do not impact the group\u2019s financial statements.10.8 New and amended standards not yet effectiveNew IFRS Accounting Standards, interpretations or amendments that are issued buy the IASB, but not yet effective, are not expected to cause any significant changes for the financial reporting for Medistim, except for the new IFRS 18 Presentation and Disclosure in Financial Statements. IFRS 18 will replace IAS 1 and applies for annual reporting periods beginning on or after January 1, 2027. IFRS 18 introduces new requirements for presentation in the income statement, how to group information in the financial statements and introduce disclosure requirements for management-defined performance measures.10.9 Notes to the accounts",
"dimensions": {
"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__26": {
"value": "10.8 New and amended standards not yet effectiveNew IFRS Accounting Standards, interpretations or amendments that are issued buy the IASB, but not yet effective, are not expected to cause any significant changes for the financial reporting for Medistim, except for the new IFRS 18 Presentation and Disclosure in Financial Statements. IFRS 18 will replace IAS 1 and applies for annual reporting periods beginning on or after January 1, 2027. IFRS 18 introduces new requirements for presentation in the income statement, how to group information in the financial statements and introduce disclosure requirements for management-defined performance measures.10.9 Notes to the accounts",
"dimensions": {
"concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__29": {
"value": "NOTE 1 REVENUEMedistim uses the 5-step model as a basis for income recognition. Based on the contract model applied and the obligations in the contract, the price is determined and allocated. Depending on the first 4 steps, income recognition is initiated. The different ways of income recognition are described in detail below. Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the group expects to be entitled in exchange for those goods or services. Group revenue can be split in three different categories that have different risk and returnon investment profile. The split is according to the company\u2019s internal reporting structure. The categories are as follows: 1. Revenue from sale of capital equipment (MiraQ) and consumable (probes) 2. Revenue from lease of equipment (MiraQ and probes)3. Distribution and sales of third-party productsCategory 1 and 2 covers the same equipment (MiraQ system) and consumables (probes). This is the products that are developed and produced by Medistim and is distributed through local partners unless Medistim has local representation. 1. Sale of capital equipment and consumables:The sale of equipment and the sale of consumables are considered separate performance obligations. Determination of when the performance obligation is considered fulfilled varies with shipping and delivery terms that decide the timing of when the customer takes control over the goods. Standard delivery terms are either EXW or FCA. With EXW terms control is transferred when products are shipped from the factory. With FCA terms customer control is transferred when products are delivered at customer site. Revenue is for both delivery terms recognized at point in time.Payment terms varies from 30 to 90 days. The group provides warranties for general repairs of defects that existed at the time of sale. This is considered an ordinary assurance type warranty, and not a separate performance obligation. A warranty provision is recognized, see \u201cNote 21 Related party transactions\u201d. In addition, service contracts / extended warranty options can be arranged. Revenue related to these contracts are recognized on straight line basis over the duration of the contract.2. Revenue from lease of equipment and probes:The group has a range of contracts related to lease of equipment and probes and can be split in two categories: \u2022 Payment per procedures \u2022 Lease of equipment and sale / lease of probesPayment per procedure:Under this model, the equipment and probes are placed at the customer site free of charge. For the customer to be able to use the equipment a procedure (smart card) must be purchased. One procedure equals the right to use the equipment for one surgery. When the customer purchases the smart card that makes the system available for use.The agreement is considered a lease with variable lease payments. Revenue is variable and recognized based on the actual use of theequipment and probes as this represent the pattern that the benefit from the use of the equipment and proves is diminished.Flow customers purchase a flow procedure, while flow and imaging customers purchase both a flow procedure and an imaging procedure. It is therefore a split of revenue between flow procedures and imaging procedures. Revenue is recognized as described above. The customer is dependent upon the smartcard to open the equipment and probe for use. The agreements are operational since equipment is returned when the agreement expires. The individual agreement contains a minimum use clause. The duration of the agreement is 1-3 years, but divided into 12-month cycles, so minimum usage applies for 12 months at a time. If minimum usage is not achieved, Medistim has the right to extract the equipment from the customer site. Lease of systems and sales / lease of probes:Under this model, the customer leases the system and purchases probes when needed. The system revenue is recognized on a straight-line basis over the lease term. Proberevenue is recognized when the probe is delivered to the customer.When probes are leased the expected probe consumption according to the contract is recognized on straight line basis but on a regular adjusted for actual probe consumption.Other terms in the agreements:If a customer with a pay per procedure or lease agreement does not handle the equipment properly, the customer is liable towards Medistim to compensate for the damage and repair. It happens that customers after too low consumption want to keep the equipment. In such cases, the customer may purchase the equipment. In this case, this is recognized as a system sale.Split of revenue between coronary surgery and vascular surgery:The company has in addition to coronary surgery a strategy and focus towards vascular surgery. The principles for guiding and quality assurance within vascular surgery is similar to the need within coronary surgery. Within coronary surgery, the surgeons focus is to supply sufficient blood to the heart. Within vascular surgery, the focus is to supply blood flow in other parts in the body or organs. The vascular market is an opportunity with a market size even larger than coronary surgery. It is therefore natural to report sales split between cardiac surgery and vascular surgery. Geographic sales split:Geographical sales split is monitored to be able to follow the development in sales in AMERICAS, APAC and EMEA. This split is natural since each region is managed accordingly. 3. Third-party sales:Sale of other third-party medical equipment is recognized when the equipment is delivered to the customer. Payment from customers is mainly due within 30 days. Other revenue in the P&L includes service, spare parts, grants and other income that is not own products or third-party products.Total revenue split per segment and main geographical area (amount in NOK 1 000) 2024 2023USA 216 261 197 157 Canada 13 993 6 734 Latin America 6 906 5 132 Total AMERICAS 237 160 209 023 China 34 573 42 565 Japan 12 056 23 970 Rest of APAC 18 654 16 448 Total APAC 65 283 82 983 Europe 162 457 145 487 MEA 7 878 9 442 Total EMEA 170 335 154 929 Third-party products 89 821 79 429 Total revenue 562 599 526 364 Geographic split of sales In number of units 2024 2023AMERICASPPP and lease:Flow procedures (PPP/card based) 23 535 26 058 Imaging and flow procedures (PPP/card based) 7 475 8 042 Flow systems (PPP or lease) 4 - Flow and imaging systems (PPP or lease) 5 4 Capital sales:Flow systems 25 16 Flow and imaging systems 25 23 Flow probes 2 265 1 806 Imaging probes 57 58 APACFlow systems 44 70 Flow and imaging systems 12 33 Flow probes 2 280 2 573 Imaging probes 33 60 EMEAFlow systems 47 58 Flow and imaging systems 29 37 Flow probes 5 084 4 737 Imaging probes 42 50 Total sales in units PPP and lease revenue:Flow procedures (PPP/card based) 23 535 26 058 Imaging and flow procedures (PPP/card based) 7 475 8 042 Flow systems (PPP or lease) 4 - Flow and imaging systems (PPP or lease) 5 4 Capital sales:Flow systems 116 144 Flow and imaging systems 66 93 Flow probes 9 629 9 116 Imaging probes 132 168 Geographic split of sales per product group (amount in NOK 1 000) 2024 2023AMERICASPPP and lease:Flow procedures (PPP/card based) 61 336 64 369 Imaging and flow procedures (PPP/card based) 39 502 36 242 Capital sales:Flow systems 20 656 15 492 Flow and imaging systems 36 536 35 566 Flow probes 70 423 48 980 Imaging probes 8 707 8 374 Total sales AMERICAS 237 160 209 023 APACFlow systems 14 356 19 468 Flow and imaging systems 8 009 20 027 Flow probes 40 280 40 019 Imaging probes 2 638 3 469 Total sales APAC 65 283 82 983 EMEAFlow systems 20 207 20 589 Flow and imaging systems 24 627 25 892 Flow probes 120 763 104 059 Imaging probes 4 737 4 389 Total sales EMEA 170 335 154 929 Total sales in NOKPPP and lease revenue:Flow procedures (PPP/card based) 61 336 64 369 Imaging and flow procedures (PPP/card based) 39 502 36 242 Capital sales:Flow systems 55 219 55 548 Flow and imaging systems 69 172 81 485 Flow probes 231 466 193 058 Imaging probes 16 082 16 232 Total sales own products 472 777 446 935 Sale of third-party products 89 822 79 429 Total Sales 562 599 526 364Split of sales between coronary and vascular surgery and third-party products (amount in NOK 1 000) 2024 2023Sales within coronary surgery 379 053 365 641 Sales within vascular surgery 93 724 81 294 Sales of third-party products 89 822 79 429 Total sales 562 599 526 364 Split of sales between flow products, Imaging products and third-party products (amount in NOK 1 000) 2024 2023Flow products 348 021 312 976 Imaging products 124 756 133 959 Sales of third-party products 89 822 79 429 Total sales 562 599 526 364",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__28-1": {
"value": "NOTE 1 REVENUEMedistim uses the 5-step model as a basis for income recognition. Based on the contract model applied and the obligations in the contract, the price is determined and allocated. Depending on the first 4 steps, income recognition is initiated. The different ways of income recognition are described in detail below. Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the group expects to be entitled in exchange for those goods or services. Group revenue can be split in three different categories that have different risk and returnon investment profile. The split is according to the company\u2019s internal reporting structure. The categories are as follows: 1. Revenue from sale of capital equipment (MiraQ) and consumable (probes) 2. Revenue from lease of equipment (MiraQ and probes)3. Distribution and sales of third-party productsCategory 1 and 2 covers the same equipment (MiraQ system) and consumables (probes). This is the products that are developed and produced by Medistim and is distributed through local partners unless Medistim has local representation. 1. Sale of capital equipment and consumables:The sale of equipment and the sale of consumables are considered separate performance obligations. Determination of when the performance obligation is considered fulfilled varies with shipping and delivery terms that decide the timing of when the customer takes control over the goods. Standard delivery terms are either EXW or FCA. With EXW terms control is transferred when products are shipped from the factory. With FCA terms customer control is transferred when products are delivered at customer site. Revenue is for both delivery terms recognized at point in time.Payment terms varies from 30 to 90 days. The group provides warranties for general repairs of defects that existed at the time of sale. This is considered an ordinary assurance type warranty, and not a separate performance obligation. A warranty provision is recognized, see \u201cNote 21 Related party transactions\u201d. In addition, service contracts / extended warranty options can be arranged. Revenue related to these contracts are recognized on straight line basis over the duration of the contract.2. Revenue from lease of equipment and probes:The group has a range of contracts related to lease of equipment and probes and can be split in two categories: \u2022 Payment per procedures \u2022 Lease of equipment and sale / lease of probesPayment per procedure:Under this model, the equipment and probes are placed at the customer site free of charge. For the customer to be able to use the equipment a procedure (smart card) must be purchased. One procedure equals the right to use the equipment for one surgery. When the customer purchases the smart card that makes the system available for use.The agreement is considered a lease with variable lease payments. Revenue is variable and recognized based on the actual use of theequipment and probes as this represent the pattern that the benefit from the use of the equipment and proves is diminished.Flow customers purchase a flow procedure, while flow and imaging customers purchase both a flow procedure and an imaging procedure. It is therefore a split of revenue between flow procedures and imaging procedures. Revenue is recognized as described above. The customer is dependent upon the smartcard to open the equipment and probe for use. The agreements are operational since equipment is returned when the agreement expires. The individual agreement contains a minimum use clause. The duration of the agreement is 1-3 years, but divided into 12-month cycles, so minimum usage applies for 12 months at a time. If minimum usage is not achieved, Medistim has the right to extract the equipment from the customer site. Lease of systems and sales / lease of probes:Under this model, the customer leases the system and purchases probes when needed. The system revenue is recognized on a straight-line basis over the lease term. Proberevenue is recognized when the probe is delivered to the customer.When probes are leased the expected probe consumption according to the contract is recognized on straight line basis but on a regular adjusted for actual probe consumption.Other terms in the agreements:If a customer with a pay per procedure or lease agreement does not handle the equipment properly, the customer is liable towards Medistim to compensate for the damage and repair. It happens that customers after too low consumption want to keep the equipment. In such cases, the customer may purchase the equipment. In this case, this is recognized as a system sale.Split of revenue between coronary surgery and vascular surgery:The company has in addition to coronary surgery a strategy and focus towards vascular surgery. The principles for guiding and quality assurance within vascular surgery is similar to the need within coronary surgery. Within coronary surgery, the surgeons focus is to supply sufficient blood to the heart. Within vascular surgery, the focus is to supply blood flow in other parts in the body or organs. The vascular market is an opportunity with a market size even larger than coronary surgery. It is therefore natural to report sales split between cardiac surgery and vascular surgery. Geographic sales split:Geographical sales split is monitored to be able to follow the development in sales in AMERICAS, APAC and EMEA. This split is natural since each region is managed accordingly. 3. Third-party sales:Sale of other third-party medical equipment is recognized when the equipment is delivered to the customer. Payment from customers is mainly due within 30 days. Other revenue in the P&L includes service, spare parts, grants and other income that is not own products or third-party products.Total revenue split per segment and main geographical area (amount in NOK 1 000) 2024 2023USA 216 261 197 157 Canada 13 993 6 734 Latin America 6 906 5 132 Total AMERICAS 237 160 209 023 China 34 573 42 565 Japan 12 056 23 970 Rest of APAC 18 654 16 448 Total APAC 65 283 82 983 Europe 162 457 145 487 MEA 7 878 9 442 Total EMEA 170 335 154 929 Third-party products 89 821 79 429 Total revenue 562 599 526 364 Geographic split of sales In number of units 2024 2023AMERICASPPP and lease:Flow procedures (PPP/card based) 23 535 26 058 Imaging and flow procedures (PPP/card based) 7 475 8 042 Flow systems (PPP or lease) 4 - Flow and imaging systems (PPP or lease) 5 4 Capital sales:Flow systems 25 16 Flow and imaging systems 25 23 Flow probes 2 265 1 806 Imaging probes 57 58 APACFlow systems 44 70 Flow and imaging systems 12 33 Flow probes 2 280 2 573 Imaging probes 33 60 EMEAFlow systems 47 58 Flow and imaging systems 29 37 Flow probes 5 084 4 737 Imaging probes 42 50 Total sales in units PPP and lease revenue:Flow procedures (PPP/card based) 23 535 26 058 Imaging and flow procedures (PPP/card based) 7 475 8 042 Flow systems (PPP or lease) 4 - Flow and imaging systems (PPP or lease) 5 4 Capital sales:Flow systems 116 144 Flow and imaging systems 66 93 Flow probes 9 629 9 116 Imaging probes 132 168 Geographic split of sales per product group (amount in NOK 1 000) 2024 2023AMERICASPPP and lease:Flow procedures (PPP/card based) 61 336 64 369 Imaging and flow procedures (PPP/card based) 39 502 36 242 Capital sales:Flow systems 20 656 15 492 Flow and imaging systems 36 536 35 566 Flow probes 70 423 48 980 Imaging probes 8 707 8 374 Total sales AMERICAS 237 160 209 023 APACFlow systems 14 356 19 468 Flow and imaging systems 8 009 20 027 Flow probes 40 280 40 019 Imaging probes 2 638 3 469 Total sales APAC 65 283 82 983 EMEAFlow systems 20 207 20 589 Flow and imaging systems 24 627 25 892 Flow probes 120 763 104 059 Imaging probes 4 737 4 389 Total sales EMEA 170 335 154 929 Total sales in NOKPPP and lease revenue:Flow procedures (PPP/card based) 61 336 64 369 Imaging and flow procedures (PPP/card based) 39 502 36 242 Capital sales:Flow systems 55 219 55 548 Flow and imaging systems 69 172 81 485 Flow probes 231 466 193 058 Imaging probes 16 082 16 232 Total sales own products 472 777 446 935 Sale of third-party products 89 822 79 429 Total Sales 562 599 526 364Split of sales between coronary and vascular surgery and third-party products (amount in NOK 1 000) 2024 2023Sales within coronary surgery 379 053 365 641 Sales within vascular surgery 93 724 81 294 Sales of third-party products 89 822 79 429 Total sales 562 599 526 364 Split of sales between flow products, Imaging products and third-party products (amount in NOK 1 000) 2024 2023Flow products 348 021 312 976 Imaging products 124 756 133 959 Sales of third-party products 89 822 79 429 Total sales 562 599 526 364NOTE 2 SEGMENTSThe group\u2019s activities are divided into strategic business units that are organized and managed separately. The group is organized, for management purpose, in two divisions dependent upon products and services. The segments are identified based upon different risk and return on investment profile. The division is also in accordance with the group\u2019s internal reporting structure. The main divisions are sale of own products and sale of third-party products. Sale of own products has two business models, the capital model and the lease model. The segment reporting is similar to the internal reports that are given to the decision makers in the company. Focus in the reporting is sales in NOK and units for the respective segments.Transactions between internal business units are performed at market terms. All transactions between the segments are eliminated.Own Products: Medistim sells its own products either through a lease or as capital. Medistim has a flexible business model in the US and leaves it up to the customer whether they want to lease the equipment or purchase the capital equipment and buy probes as consumable. The lease model in the USA has been successful since it does not demand upfront capital to have the equipment available. However, several customers prefer to invest in the equipment and purchase probes as consumables and Medistim promotes both solutions. Medistim has direct representation in the USA, which makes it manageable to handle the lease model properly. Medistim only offers the lease option in direct markets. In recent years, the lease options have also been introduced in Spain and UK. Lease revenue outside the US is at a moderate level.Third-party products: Distribution of third-party products:Distribution and sale of third-party products is a separate segment. The group sells medical devices from third party manufacturers in Norway, Sweden and Denmark. The product portfolio is carefully selected and mainly instruments and consumables within surgery. OwnThird partySegment revenue, expense, and EBIT split 2024 (amount in NOK 1 000) products products GroupTotal revenue 472 777 89 822 562 599Cost of materials 65 899 47 781 113 680Salary and social expenses 164 945 20 168 185 113Other operating expenses 99 858 8 362 108 220Depreciation and amortisation expenses 23 803 707 24 510Operating profit 118 272 12 804 131 076OwnThird partySegment revenue, expense, and EBIT split 2023 (amount in NOK 1 000) products products GroupTotal revenue 446 935 79 429 526 364Cost of materials 66 491 45 789 112 280Salary and social expenses 148 369 14 318 162 687Other operating expenses 89 102 7 286 96 338Depreciation and amortisation expenses 22 920 647 23 567Operating profit 120 053 11 388 131 442",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__27": {
"value": "NOTE 1 REVENUEMedistim uses the 5-step model as a basis for income recognition. Based on the contract model applied and the obligations in the contract, the price is determined and allocated. Depending on the first 4 steps, income recognition is initiated. The different ways of income recognition are described in detail below. Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the group expects to be entitled in exchange for those goods or services. Group revenue can be split in three different categories that have different risk and returnon investment profile. The split is according to the company\u2019s internal reporting structure. The categories are as follows: 1. Revenue from sale of capital equipment (MiraQ) and consumable (probes) 2. Revenue from lease of equipment (MiraQ and probes)3. Distribution and sales of third-party productsCategory 1 and 2 covers the same equipment (MiraQ system) and consumables (probes). This is the products that are developed and produced by Medistim and is distributed through local partners unless Medistim has local representation. 1. Sale of capital equipment and consumables:The sale of equipment and the sale of consumables are considered separate performance obligations. Determination of when the performance obligation is considered fulfilled varies with shipping and delivery terms that decide the timing of when the customer takes control over the goods. Standard delivery terms are either EXW or FCA. With EXW terms control is transferred when products are shipped from the factory. With FCA terms customer control is transferred when products are delivered at customer site. Revenue is for both delivery terms recognized at point in time.Payment terms varies from 30 to 90 days. The group provides warranties for general repairs of defects that existed at the time of sale. This is considered an ordinary assurance type warranty, and not a separate performance obligation. A warranty provision is recognized, see \u201cNote 21 Related party transactions\u201d. In addition, service contracts / extended warranty options can be arranged. Revenue related to these contracts are recognized on straight line basis over the duration of the contract.2. Revenue from lease of equipment and probes:The group has a range of contracts related to lease of equipment and probes and can be split in two categories: \u2022 Payment per procedures \u2022 Lease of equipment and sale / lease of probesPayment per procedure:Under this model, the equipment and probes are placed at the customer site free of charge. For the customer to be able to use the equipment a procedure (smart card) must be purchased. One procedure equals the right to use the equipment for one surgery. When the customer purchases the smart card that makes the system available for use.The agreement is considered a lease with variable lease payments. Revenue is variable and recognized based on the actual use of theequipment and probes as this represent the pattern that the benefit from the use of the equipment and proves is diminished.Flow customers purchase a flow procedure, while flow and imaging customers purchase both a flow procedure and an imaging procedure. It is therefore a split of revenue between flow procedures and imaging procedures. Revenue is recognized as described above. The customer is dependent upon the smartcard to open the equipment and probe for use. The agreements are operational since equipment is returned when the agreement expires. The individual agreement contains a minimum use clause. The duration of the agreement is 1-3 years, but divided into 12-month cycles, so minimum usage applies for 12 months at a time. If minimum usage is not achieved, Medistim has the right to extract the equipment from the customer site. Lease of systems and sales / lease of probes:Under this model, the customer leases the system and purchases probes when needed. The system revenue is recognized on a straight-line basis over the lease term. Proberevenue is recognized when the probe is delivered to the customer.When probes are leased the expected probe consumption according to the contract is recognized on straight line basis but on a regular adjusted for actual probe consumption.Other terms in the agreements:If a customer with a pay per procedure or lease agreement does not handle the equipment properly, the customer is liable towards Medistim to compensate for the damage and repair. It happens that customers after too low consumption want to keep the equipment. In such cases, the customer may purchase the equipment. In this case, this is recognized as a system sale.Split of revenue between coronary surgery and vascular surgery:The company has in addition to coronary surgery a strategy and focus towards vascular surgery. The principles for guiding and quality assurance within vascular surgery is similar to the need within coronary surgery. Within coronary surgery, the surgeons focus is to supply sufficient blood to the heart. Within vascular surgery, the focus is to supply blood flow in other parts in the body or organs. The vascular market is an opportunity with a market size even larger than coronary surgery. It is therefore natural to report sales split between cardiac surgery and vascular surgery. Geographic sales split:Geographical sales split is monitored to be able to follow the development in sales in AMERICAS, APAC and EMEA. This split is natural since each region is managed accordingly. 3. Third-party sales:Sale of other third-party medical equipment is recognized when the equipment is delivered to the customer. Payment from customers is mainly due within 30 days. Other revenue in the P&L includes service, spare parts, grants and other income that is not own products or third-party products.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__32": {
"value": "NOTE 2 SEGMENTSThe group\u2019s activities are divided into strategic business units that are organized and managed separately. The group is organized, for management purpose, in two divisions dependent upon products and services. The segments are identified based upon different risk and return on investment profile. The division is also in accordance with the group\u2019s internal reporting structure. The main divisions are sale of own products and sale of third-party products. Sale of own products has two business models, the capital model and the lease model. The segment reporting is similar to the internal reports that are given to the decision makers in the company. Focus in the reporting is sales in NOK and units for the respective segments.Transactions between internal business units are performed at market terms. All transactions between the segments are eliminated.Own Products: Medistim sells its own products either through a lease or as capital. Medistim has a flexible business model in the US and leaves it up to the customer whether they want to lease the equipment or purchase the capital equipment and buy probes as consumable. The lease model in the USA has been successful since it does not demand upfront capital to have the equipment available. However, several customers prefer to invest in the equipment and purchase probes as consumables and Medistim promotes both solutions. Medistim has direct representation in the USA, which makes it manageable to handle the lease model properly. Medistim only offers the lease option in direct markets. In recent years, the lease options have also been introduced in Spain and UK. Lease revenue outside the US is at a moderate level.Third-party products: Distribution of third-party products:Distribution and sale of third-party products is a separate segment. The group sells medical devices from third party manufacturers in Norway, Sweden and Denmark. The product portfolio is carefully selected and mainly instruments and consumables within surgery.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__30": {
"value": "NOTE 2 SEGMENTSThe group\u2019s activities are divided into strategic business units that are organized and managed separately. The group is organized, for management purpose, in two divisions dependent upon products and services. The segments are identified based upon different risk and return on investment profile. The division is also in accordance with the group\u2019s internal reporting structure. The main divisions are sale of own products and sale of third-party products. Sale of own products has two business models, the capital model and the lease model. The segment reporting is similar to the internal reports that are given to the decision makers in the company. Focus in the reporting is sales in NOK and units for the respective segments.Transactions between internal business units are performed at market terms. All transactions between the segments are eliminated.Own Products: Medistim sells its own products either through a lease or as capital. Medistim has a flexible business model in the US and leaves it up to the customer whether they want to lease the equipment or purchase the capital equipment and buy probes as consumable. The lease model in the USA has been successful since it does not demand upfront capital to have the equipment available. However, several customers prefer to invest in the equipment and purchase probes as consumables and Medistim promotes both solutions. Medistim has direct representation in the USA, which makes it manageable to handle the lease model properly. Medistim only offers the lease option in direct markets. In recent years, the lease options have also been introduced in Spain and UK. Lease revenue outside the US is at a moderate level.Third-party products: Distribution of third-party products:Distribution and sale of third-party products is a separate segment. The group sells medical devices from third party manufacturers in Norway, Sweden and Denmark. The product portfolio is carefully selected and mainly instruments and consumables within surgery. OwnThird partySegment revenue, expense, and EBIT split 2024 (amount in NOK 1 000) products products GroupTotal revenue 472 777 89 822 562 599Cost of materials 65 899 47 781 113 680Salary and social expenses 164 945 20 168 185 113Other operating expenses 99 858 8 362 108 220Depreciation and amortisation expenses 23 803 707 24 510Operating profit 118 272 12 804 131 076OwnThird partySegment revenue, expense, and EBIT split 2023 (amount in NOK 1 000) products products GroupTotal revenue 446 935 79 429 526 364Cost of materials 66 491 45 789 112 280Salary and social expenses 148 369 14 318 162 687Other operating expenses 89 102 7 286 96 338Depreciation and amortisation expenses 22 920 647 23 567Operating profit 120 053 11 388 131 442",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__33": {
"value": "NOTE 3 SPLIT OF COST OF MATERIALSplit of cost of material (amount in NOK 1 000) 2024 2023Change in inventory of third party products 65 716Change of inventory of finished goods Medistim products -6 976 -21 211Raw materials and components used -9 007 -11 853Purchase of third party products 47 716 45 073Purchace of raw material and components 81 882 99 554Total cost of materials 113 680 112 280The inventory change related to salary is included under \u201cChange of inventory of finished Medistim goods\u201d. Change in inventory provision is included under \u201cRaw materials and components used\u201d. See also \u201cNote 14 Inventory\u201d.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__35": {
"value": "NOTE 4 SPLIT OF SALARY EXPENSESSplit of salary expenses (amount in NOK 1 000) 2024 2023Salary 143 668 129 501Employees tax 20 638 18 786Bonus 12 576 6 283Cost for contribution pension plan 7 241 6 260Compensation to the Board 2 533 2 122Other social costs -1 543 -354Total salary and social cost 185 113 162 597Employees in Medistim with a pension plan are included in a contribution plan where an agreed percentage of the employee\u2019s salary is paid to the employee pension account. The company\u2019s payment of contributions is expensed in the period it is incurred. For the 108 Norwegian employees there is a contribution plan that covers 5 % of salary up to 7.1G and 8 % of salary between 7.1G and 12G. 1G is the base amount in the social security system. The 24 employees in the US follows a pension plan, a 401 (k) match that covers 4 % of salary. The total cost for the contribution plans was in 2024 MNOK 6.59, while it was MNOK 6.26 in 2023. It is compulsory by law for the company to have a pension plan for its employees in Norway. The pension plans in the company fulfill the obligation in the Norwegian law. Employees outside Norway and US do not have a pension plan.Average number of employees 2024 2023USA 24 25 Germany 5 5 UK 1 1 Canada 2 2 Sweden 2 1 China 5 2Spain 6 4 Denmark 1 1 Norway 108 111 Total employees 154 152",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__34": {
"value": "NOTE 4 SPLIT OF SALARY EXPENSESSplit of salary expenses (amount in NOK 1 000) 2024 2023Salary 143 668 129 501Employees tax 20 638 18 786Bonus 12 576 6 283Cost for contribution pension plan 7 241 6 260Compensation to the Board 2 533 2 122Other social costs -1 543 -354Total salary and social cost 185 113 162 597Employees in Medistim with a pension plan are included in a contribution plan where an agreed percentage of the employee\u2019s salary is paid to the employee pension account. The company\u2019s payment of contributions is expensed in the period it is incurred. For the 108 Norwegian employees there is a contribution plan that covers 5 % of salary up to 7.1G and 8 % of salary between 7.1G and 12G. 1G is the base amount in the social security system. The 24 employees in the US follows a pension plan, a 401 (k) match that covers 4 % of salary. The total cost for the contribution plans was in 2024 MNOK 6.59, while it was MNOK 6.26 in 2023. It is compulsory by law for the company to have a pension plan for its employees in Norway. The pension plans in the company fulfill the obligation in the Norwegian law. Employees outside Norway and US do not have a pension plan.Average number of employees 2024 2023USA 24 25 Germany 5 5 UK 1 1 Canada 2 2 Sweden 2 1 China 5 2Spain 6 4 Denmark 1 1 Norway 108 111 Total employees 154 152",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__36": {
"value": "Employees in Medistim with a pension plan are included in a contribution plan where an agreed percentage of the employee\u2019s salary is paid to the employee pension account. The company\u2019s payment of contributions is expensed in the period it is incurred. For the 108 Norwegian employees there is a contribution plan that covers 5 % of salary up to 7.1G and 8 % of salary between 7.1G and 12G. 1G is the base amount in the social security system. The 24 employees in the US follows a pension plan, a 401 (k) match that covers 4 % of salary. The total cost for the contribution plans was in 2024 MNOK 6.59, while it was MNOK 6.26 in 2023. It is compulsory by law for the company to have a pension plan for its employees in Norway. The pension plans in the company fulfill the obligation in the Norwegian law. Employees outside Norway and US do not have a pension plan.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__37": {
"value": "NOTE 5 AUDIT FEEAudit fee for the group (amount in NOK 1 000) 2024 2023Statutory Audit 1 520 2 027Other services 132 200 Total Audit fee 1 652 2 227 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__39": {
"value": "NOTE 6 PROPERTY, PLANT AND EQUIPMENTProperty, plant and equipment is recorded at cost less accumulated depreciations and write-downs. When an asset is sold, the carrying value of the asset is derecognized and any gain or loss from the sale is recognized in the income statement. Items of property, plant and equipment are depreciated straight line over the estimated useful life from the time it is available for use. Useful life is as follows: \u2022 Machinery and equipment 3-7 years \u2022 Other assets 3-5 yearsProperty, plant and equipment are tested for impairment if there are indication of impairment. If the carrying amount exceeds the assets recoverable amount, being the higher of value in use and fair value less cost of disposal, the asset is written down to the recoverable amount. Depreciation time and method is evaluated on a yearly basis. The assets that are leased to customers are recognized as property, plant and equipment in the balance sheet. Direct cost related to the leasing agreement is added to the carrying amount of the leased assets and is depreciated over the lease term.Other Right-of-useTotal Property plant and equipment 2024 (amount in NOK 1 000) Equipmentassets assetsassetsHistorical cost 103 440 34 587 52 608 190 634Additions 3 476 7 522 25 508 35 12531.December 106 916 42 109 78 116 227 141Accumulated depreciation and impairmentBalance 1. January 74 112 24 252 34 965 133 329Depreciation this year 7 713 4 722 8 791 21 226Exchange rate differences 194 384 -2 57631. December 83 191 28 590 43 758 155 540Book value 25 285 12 138 34 358 73 162OtherRight-of-useProperty plant and equipment 2023 (amount in NOK 1 000) Equipment assets assets Total assetsHistorical cost 92 977 28 144 43 688 164 809Additions 10 462 6 442 8 920 25 82531. December 103 440 34 587 52 608 190 634Accumulated depreciation and impairmentBalance 1. January 66 023 20 892 26 583 113 497Depreciation this year 8 125 3 142 8 383 19 649Exchange rate differences 36 -219 1 -18231. December 74 112 24 252 34 965 133 329Book value 29 328 10 335 17 643 57 305Right to use assets",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__38": {
"value": "NOTE 6 PROPERTY, PLANT AND EQUIPMENTProperty, plant and equipment is recorded at cost less accumulated depreciations and write-downs. When an asset is sold, the carrying value of the asset is derecognized and any gain or loss from the sale is recognized in the income statement. Items of property, plant and equipment are depreciated straight line over the estimated useful life from the time it is available for use. Useful life is as follows: \u2022 Machinery and equipment 3-7 years \u2022 Other assets 3-5 yearsProperty, plant and equipment are tested for impairment if there are indication of impairment. If the carrying amount exceeds the assets recoverable amount, being the higher of value in use and fair value less cost of disposal, the asset is written down to the recoverable amount. Depreciation time and method is evaluated on a yearly basis. The assets that are leased to customers are recognized as property, plant and equipment in the balance sheet. Direct cost related to the leasing agreement is added to the carrying amount of the leased assets and is depreciated over the lease term.Other Right-of-useTotal Property plant and equipment 2024 (amount in NOK 1 000) Equipmentassets assetsassetsHistorical cost 103 440 34 587 52 608 190 634Additions 3 476 7 522 25 508 35 12531.December 106 916 42 109 78 116 227 141Accumulated depreciation and impairmentBalance 1. January 74 112 24 252 34 965 133 329Depreciation this year 7 713 4 722 8 791 21 226Exchange rate differences 194 384 -2 57631. December 83 191 28 590 43 758 155 540Book value 25 285 12 138 34 358 73 162OtherRight-of-useProperty plant and equipment 2023 (amount in NOK 1 000) Equipment assets assets Total assetsHistorical cost 92 977 28 144 43 688 164 809Additions 10 462 6 442 8 920 25 82531. December 103 440 34 587 52 608 190 634Accumulated depreciation and impairmentBalance 1. January 66 023 20 892 26 583 113 497Depreciation this year 8 125 3 142 8 383 19 649Exchange rate differences 36 -219 1 -18231. December 74 112 24 252 34 965 133 329Book value 29 328 10 335 17 643 57 305Right to use assets",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__41": {
"value": "Property, plant and equipment is recorded at cost less accumulated depreciations and write-downs. When an asset is sold, the carrying value of the asset is derecognized and any gain or loss from the sale is recognized in the income statement. Items of property, plant and equipment are depreciated straight line over the estimated useful life from the time it is available for use. Useful life is as follows: \u2022 Machinery and equipment 3-7 years \u2022 Other assets 3-5 yearsProperty, plant and equipment are tested for impairment if there are indication of impairment. If the carrying amount exceeds the assets recoverable amount, being the higher of value in use and fair value less cost of disposal, the asset is written down to the recoverable amount. Depreciation time and method is evaluated on a yearly basis. The assets that are leased to customers are recognized as property, plant and equipment in the balance sheet. Direct cost related to the leasing agreement is added to the carrying amount of the leased assets and is depreciated over the lease term.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__40": {
"value": "Property, plant and equipment is recorded at cost less accumulated depreciations and write-downs. When an asset is sold, the carrying value of the asset is derecognized and any gain or loss from the sale is recognized in the income statement. Items of property, plant and equipment are depreciated straight line over the estimated useful life from the time it is available for use. Useful life is as follows: \u2022 Machinery and equipment 3-7 years \u2022 Other assets 3-5 yearsProperty, plant and equipment are tested for impairment if there are indication of impairment. If the carrying amount exceeds the assets recoverable amount, being the higher of value in use and fair value less cost of disposal, the asset is written down to the recoverable amount. Depreciation time and method is evaluated on a yearly basis. The assets that are leased to customers are recognized as property, plant and equipment in the balance sheet. Direct cost related to the leasing agreement is added to the carrying amount of the leased assets and is depreciated over the lease term.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__42": {
"value": "Note 7 Right to use assets\u201d for details.SecurityEquipment and other assets is pledged as security as of 31.12.2024. The security is related to bank guarantees, guarantee towards landlord for rent and hedging credit facility. The group\u2019s bank had the same security as of 31.12.2023. NOTE 7 RIGHT TO USE ASSETS Right to use assetsThe company is renting offices in \u00d8kernveien 94 in Oslo, Bromsveien 17 and Raveien 205 in Horten and in 14000 25ave. N. Suite 108 in Plymouth in Minneapolis, Minnesota, USA. In Oslo and Raveien 205 in Horten the rental agreement expires in 2030 and 2025 respectively. Bromsveien 17 in Horten expires in 2027. In the USA, the rental agreement expires year-end 2030. The rent is adjusted yearly according to National indexes for goods and services. The lease in \u00d8kernveien 94 expires in May 2030, the lease in Bromsveien 17 may be prolonged with 2 years after 2027 and Raveien 205 may be prolonged with 2 years after 2025. It is at present uncertain whether these leases will be prolonged. The group also leases office equipment and cars. The longest remaining lease term for office equipment and cars is until December 2025 and December 2028 respectively.Medistim have some other leases that are minor and not included in the balance sheet as right to use assets and liabilities. The company recognizes a lease liability and a right-of-use asset for leases with a duration of more than 12 months, provided that the underlying asset is not of low value. The lease liability is the present value of the lease payment over the lease term. Lease payment includes fixed payments and variable lease payments that depend on an index or a rate. The lease term is the non-cancellable period of the lease together periods covered by an option to extend the lease when the exercise of the option is reasonably certain. Right-of-use assets are depreciated over the shortest of the lease term and useful life. Depreciation of right-of-use assets is presented together with other depreciation in the income statement. Lease payments are allocated between installments and interest based on a constant periodic rate of interest being the interest used to calculate the lease liability. The interest expense is presented as a financial expense in the income statement. Leased assets are recorded in the balance sheet with a corresponding liability and the lease expense recorded as depreciation and interest expense. Medistim\u2019s leased assets with right to use and liabilities are shown in the following table. Right-of-use assets and lease liabilities 2024 (amount in NOK 1 000)Machinery and Right-of-use assets Buildingsequipment Vehicles 2024 Recognition of right to use of asset 1 January 15 355 203 2 085 17 642 Addition of right-of-use assets, CPI adjustments and other reassessment 23 070 - 2 438 25 513 Amortization 6 609 122 2 060 8 791 Carrying amount of right-of-use assets 31. December 31 815 81 2 463 34 364 Lower of remaining lease term or economic life 4-8 years 2-5 years 1-5 yearsDepreciation method Linear Linear LinearLease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsLess than 1 year 8 134 129 1 260 9 523 1-2 years 7 559 - 861 8 420 3-4 years 7 272 - 629 7 901 4-5 years 6 353 - 314 6 667 More than 5 years 4 455 - - 4 455 Total undiscounted lease liabilities at 31 December 33 773 129 3 064 36 966 Summary of the lease liabilities in the financial statements Statement of: Lease liabilities as of January 1st 17 642 New lease liabilities recognized in the year 25 513 Cash payments for the principal portion of the lease liability Cash flows 8 791 Interest expense on lease liabilities Income statement 324 Total lease liabilities at 31. December 34 364 Non-current lease liabilities Financial position 25 059 Current lease liabilities Financial position 9 305 Total cash outflows for leases Cash flows 9 115 Right-of-use assets and lease liabilities 2023 (amount in NOK 1 000)Machinery and Right-of-use assets Buildingsequipment Vehicles 2023 Recognition of right to use of asset 1. January 15 065 126 1 915 17 105 Addition of right-of-use assets, CPI adjustments and other reassessment 6 899 199 1 822 8 920 Amortization 6 609 122 1 652 8 383 Carrying amount of right-of-use assets 31 December 15 355 203 2 085 17 643Lower of remaining lease term or economic life 4-8 years 2-5 years 1-5 yearsDepreciation method Linear Linear LinearLease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsLess than 1 year 6 609 122 1 652 8 3831-2 years 4 022 92 704 4 8183-4 years 2 453 - - 2 453 4-5 years 1 773 - - 1 773More than 5 years 2 192 - - 2 192Total undiscounted lease liabilities at 31 December 17 049 214 2 356 19 619 Summary of the lease liabilities in the financial statements Statement of: Lease liabilities as of January 1st 17 105 New lease liabilities recognised in the year 8 920Cash payments for the principal portion of the lease liability Cash flows 8 383 Interest expense on lease liabilities Income statement 309 Total lease liabilities at 31. December 17 643 Non-current lease liabilities Financial position 8 384 Current lease liabilities Financial position 9 260 Cash Total cash outflows for leasesflows 8 692",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__44": {
"value": "Right to use assetsThe company is renting offices in \u00d8kernveien 94 in Oslo, Bromsveien 17 and Raveien 205 in Horten and in 14000 25ave. N. Suite 108 in Plymouth in Minneapolis, Minnesota, USA. In Oslo and Raveien 205 in Horten the rental agreement expires in 2030 and 2025 respectively. Bromsveien 17 in Horten expires in 2027. In the USA, the rental agreement expires year-end 2030. The rent is adjusted yearly according to National indexes for goods and services. The lease in \u00d8kernveien 94 expires in May 2030, the lease in Bromsveien 17 may be prolonged with 2 years after 2027 and Raveien 205 may be prolonged with 2 years after 2025. It is at present uncertain whether these leases will be prolonged. The group also leases office equipment and cars. The longest remaining lease term for office equipment and cars is until December 2025 and December 2028 respectively.Medistim have some other leases that are minor and not included in the balance sheet as right to use assets and liabilities. The company recognizes a lease liability and a right-of-use asset for leases with a duration of more than 12 months, provided that the underlying asset is not of low value. The lease liability is the present value of the lease payment over the lease term. Lease payment includes fixed payments and variable lease payments that depend on an index or a rate. The lease term is the non-cancellable period of the lease together periods covered by an option to extend the lease when the exercise of the option is reasonably certain. Right-of-use assets are depreciated over the shortest of the lease term and useful life. Depreciation of right-of-use assets is presented together with other depreciation in the income statement. Lease payments are allocated between installments and interest based on a constant periodic rate of interest being the interest used to calculate the lease liability. The interest expense is presented as a financial expense in the income statement. Leased assets are recorded in the balance sheet with a corresponding liability and the lease expense recorded as depreciation and interest expense. Medistim\u2019s leased assets with right to use and liabilities are shown in the following table.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__43": {
"value": "Right-of-use assets and lease liabilities 2024 (amount in NOK 1 000)Machinery and Right-of-use assets Buildingsequipment Vehicles 2024 Recognition of right to use of asset 1 January 15 355 203 2 085 17 642 Addition of right-of-use assets, CPI adjustments and other reassessment 23 070 - 2 438 25 513 Amortization 6 609 122 2 060 8 791 Carrying amount of right-of-use assets 31. December 31 815 81 2 463 34 364 Lower of remaining lease term or economic life 4-8 years 2-5 years 1-5 yearsDepreciation method Linear Linear LinearLease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsLess than 1 year 8 134 129 1 260 9 523 1-2 years 7 559 - 861 8 420 3-4 years 7 272 - 629 7 901 4-5 years 6 353 - 314 6 667 More than 5 years 4 455 - - 4 455 Total undiscounted lease liabilities at 31 December 33 773 129 3 064 36 966 Summary of the lease liabilities in the financial statements Statement of: Lease liabilities as of January 1st 17 642 New lease liabilities recognized in the year 25 513 Cash payments for the principal portion of the lease liability Cash flows 8 791 Interest expense on lease liabilities Income statement 324 Total lease liabilities at 31. December 34 364 Non-current lease liabilities Financial position 25 059 Current lease liabilities Financial position 9 305 Total cash outflows for leases Cash flows 9 115 Right-of-use assets and lease liabilities 2023 (amount in NOK 1 000)Machinery and Right-of-use assets Buildingsequipment Vehicles 2023 Recognition of right to use of asset 1. January 15 065 126 1 915 17 105 Addition of right-of-use assets, CPI adjustments and other reassessment 6 899 199 1 822 8 920 Amortization 6 609 122 1 652 8 383 Carrying amount of right-of-use assets 31 December 15 355 203 2 085 17 643Lower of remaining lease term or economic life 4-8 years 2-5 years 1-5 yearsDepreciation method Linear Linear LinearLease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsLess than 1 year 6 609 122 1 652 8 3831-2 years 4 022 92 704 4 8183-4 years 2 453 - - 2 453 4-5 years 1 773 - - 1 773More than 5 years 2 192 - - 2 192Total undiscounted lease liabilities at 31 December 17 049 214 2 356 19 619 Summary of the lease liabilities in the financial statements Statement of: Lease liabilities as of January 1st 17 105 New lease liabilities recognised in the year 8 920Cash payments for the principal portion of the lease liability Cash flows 8 383 Interest expense on lease liabilities Income statement 309 Total lease liabilities at 31. December 17 643 Non-current lease liabilities Financial position 8 384 Current lease liabilities Financial position 9 260 Cash Total cash outflows for leasesflows 8 692",
"dimensions": {
"concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__45": {
"value": "NOTE 8 OTHER OPERATING EXPENSESOther Operating expenses (amount in NOK 1 000) 2024 2023Office expenses 2 185 1 378 Travel cost 16 478 15 620 Marketing 9 875 6 391 Consultants 40 896 38 058 Insurance 4 034 2 718 Freight 4 369 3 326 Communication 1 384 1 391 IT cost 19 396 18 588 Other 9 604 8 919 Total operating expenses 108 220 96 388",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__46": {
"value": "NOTE 9 FINANCIAL INCOME AND EXPENSES As of 31.12.2024, the company had MNOK 42.7 in interest bearing liability related to lease contracts shown in \u201cNote 7 Right to use assets\u201d. Additional cash in the group gave interest revenue of TNOK 4 569. Other finance income and expenses was realized or unrealized gains or losses towards foreign currency. Financial income and expenses are shown below. See \u201cNote 20 Financial Risk\u201d for comment about financial risks and exposure.Financial Income and Expenses (amount in NOK 1 000) 2024 2023Interest income 4 569 3 275 Other financial income 691 137 Gains on foreign exchange 6 239 13 710 Total financial income 11 499 17 123Loss on foreign exchange -7 870 -12 780Other financial expenses -459 -573Total financial expenses -8 329 -13 352Net finance 3 170 3 770",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__47": {
"value": "Financial Income and Expenses (amount in NOK 1 000) 2024 2023Interest income 4 569 3 275 Other financial income 691 137 Gains on foreign exchange 6 239 13 710 Total financial income 11 499 17 123",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__48": {
"value": "Loss on foreign exchange -7 870 -12 780Other financial expenses -459 -573Total financial expenses -8 329 -13 352Net finance 3 170 3 770",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__50": {
"value": "NOTE 10 INCOME TAX Income tax (amount in NOK 1 000) 2024 2023Current income tax charge 34 398 32 402Deferred tax expense -3 984 -1 013Tax expense reported in statement of profit or Loss 30 414 31 389Reconciling tax expense towards income before taxTax expense for the year 30 414 31 38922 % of income before tax 33 862 29 892Change in deferred tax, temporary differences -3 984 -1 047 Permanent differences and different tax rates 3 448 -1 497Calculation of effective tax rateExpected income tax at tax rate 22 % in Norway 33 862 29 892Foreign tax rate differences -3 448 1 497 Income tax expense 30 414 31 389Effective income tax rate 22,7 % 23,2 %Payable tax in statement of financial positionIncome tax expense 33 623 32 419Prepaid tax -4 867 -4 340 Change deferred tax asset - 325 Income tax payable 27 375 28 404Specification of deferred taxDifference in values:Non current assets 781 1 424Current assets -42 012 -25 078Other obligations 223 279Total differences -41 008 -23 376Deferred tax asset 22 % -9 022 -5 142The tax expense in the income statement includes both payable taxes for the period and changes in deferred tax. Deferred tax is calculated based on temporary differences between tax values and carrying amount of assets and liabilities. Tax payable and deferred tax is recorded against equity if the transaction is an equity transaction.The deferred tax asset in the balance sheet is based upon future utilization of deductible temporary differences. There is no time limitation for utilization of the temporary differences. Tax rates in Germany and in the US are different from Norwegian rates. The difference in tax rates gives an average tax rate of 22.7 % in 2024. Medistim has over several years shown solid profit and it\u2019s the company\u2019s assessment that it is likely that tax assets will be utilized in the future.Tax expense for the group is geographically split as follows (amount in NOK 1 000) 2024 2023Norway 24 365 27 260Germany 2 323 2 022USA 2 236 1 669Spain 1 085 304Denmark 405 134Total tax expense for the group 30 414 31 389",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__49": {
"value": "NOTE 10 INCOME TAX Income tax (amount in NOK 1 000) 2024 2023Current income tax charge 34 398 32 402Deferred tax expense -3 984 -1 013Tax expense reported in statement of profit or Loss 30 414 31 389Reconciling tax expense towards income before taxTax expense for the year 30 414 31 38922 % of income before tax 33 862 29 892Change in deferred tax, temporary differences -3 984 -1 047 Permanent differences and different tax rates 3 448 -1 497Calculation of effective tax rateExpected income tax at tax rate 22 % in Norway 33 862 29 892Foreign tax rate differences -3 448 1 497 Income tax expense 30 414 31 389Effective income tax rate 22,7 % 23,2 %Payable tax in statement of financial positionIncome tax expense 33 623 32 419Prepaid tax -4 867 -4 340 Change deferred tax asset - 325 Income tax payable 27 375 28 404Specification of deferred taxDifference in values:Non current assets 781 1 424Current assets -42 012 -25 078Other obligations 223 279Total differences -41 008 -23 376Deferred tax asset 22 % -9 022 -5 142The tax expense in the income statement includes both payable taxes for the period and changes in deferred tax. Deferred tax is calculated based on temporary differences between tax values and carrying amount of assets and liabilities. Tax payable and deferred tax is recorded against equity if the transaction is an equity transaction.The deferred tax asset in the balance sheet is based upon future utilization of deductible temporary differences. There is no time limitation for utilization of the temporary differences. Tax rates in Germany and in the US are different from Norwegian rates. The difference in tax rates gives an average tax rate of 22.7 % in 2024. Medistim has over several years shown solid profit and it\u2019s the company\u2019s assessment that it is likely that tax assets will be utilized in the future.Tax expense for the group is geographically split as follows (amount in NOK 1 000) 2024 2023Norway 24 365 27 260Germany 2 323 2 022USA 2 236 1 669Spain 1 085 304Denmark 405 134Total tax expense for the group 30 414 31 389",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__53": {
"value": "The tax expense in the income statement includes both payable taxes for the period and changes in deferred tax. Deferred tax is calculated based on temporary differences between tax values and carrying amount of assets and liabilities. Tax payable and deferred tax is recorded against equity if the transaction is an equity transaction.The deferred tax asset in the balance sheet is based upon future utilization of deductible temporary differences. There is no time limitation for utilization of the temporary differences. Tax rates in Germany and in the US are different from Norwegian rates. The difference in tax rates gives an average tax rate of 22.7 % in 2024.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__52": {
"value": "The tax expense in the income statement includes both payable taxes for the period and changes in deferred tax. Deferred tax is calculated based on temporary differences between tax values and carrying amount of assets and liabilities. Tax payable and deferred tax is recorded against equity if the transaction is an equity transaction.The deferred tax asset in the balance sheet is based upon future utilization of deductible temporary differences. There is no time limitation for utilization of the temporary differences. Tax rates in Germany and in the US are different from Norwegian rates. The difference in tax rates gives an average tax rate of 22.7 % in 2024.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__51": {
"value": "The deferred tax asset in the balance sheet is based upon future utilization of deductible temporary differences. There is no time limitation for utilization of the temporary differences. Tax rates in Germany and in the US are different from Norwegian rates. The difference in tax rates gives an average tax rate of 22.7 % in 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
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"value": "NOTE 11 EARNING PER SHAREEarning per share (amount in NOK 1 000) 2024 2023Profit for the year 103 832 103 823Average numbers of shares outstanding Average number of shares used in basic EPS 18 314 219 18 267 157Effect of share incentive plan - 29 000 Average numbers of shares used in diluted EPS 18 314 219 18 296 157Earning per shareOrdinary 5.67 5.68Diluted 5.67 5.67Paid dividend 82 414 82 180 Dividend per share 4.50 4.50Suggested dividend per share 6.00 4.50The company has only one class of shares. Ordinary earning per share is calculated as the relation between profits for the year that is allocated to ordinary shareholders divided with average number of shares outstanding. Treasury shares are not included and average number of treasury shares are excluded from the calculation. In 2024, there were share options to CEO. The share option plan to CEO is described under chapter 3 compensation to management and \u201cNote 21 Related party transactions\u201d. By year-end the company had 23 117 own shares.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__55": {
"value": "Paid dividend 82 414 82 180 Dividend per share 4.50 4.50Suggested dividend per share 6.00 4.50",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__56": {
"value": "4.5",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f0__s7__7__57": {
"value": "4.5",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f0__s7__6__58": {
"value": "6.0",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
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"f0__s7__7__59": {
"value": "4.5",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
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"value": "NOTE 12 INTANGIBLE ASSETS Product technology and additions, goodwill and license agreementIntangible assets are recognized in the balance sheet if it is probable that the future economic benefits will flow to the company, and the cost of the asset can be measured reliable. Intangible asset with finite economic life is measured at cost less accumulated amortization and write-downs. Amortization is done on a straight-line basis over expected lifetime. The amortization period and method are reviewed on a yearly basis. Intangible assets with indefinite useful life are not amortized but tested for impairment at least annually. Research and development:Research cost is expensed as incurred. Cost to internal development of technology or software is capitalized as an intangible asset when it is demonstrated that:\u2022 it is technically feasible to complete the asset\u2022 the company has the recourse to complete the project\u2022 the product will generate future economic benefits\u2022 expenditure can be reliable measured. Cost capitalized include materials, salary and social expenses and other expenses that can be allocated to the development of the asset. Internally developed intangible assets are amortized on a straight-line basis over the expected useful life. Amortization starts when the asset is available for use. Intangible assets not ready for use, is tested for impairment on a yearly basis. Capitalized development costs are written down when a new product is ready for sale, or an improved product is ready for sale. Internally develop intangible asset is tested for impairment on a regular basis by discounting expected cash flow generated from the asset. If the discounted value is lower than the carrying amount the asset is written down. Capitalized cost related to development of own products are depreciated on a straight-line basis over expected lifetime. Expected lifetime varies from 3 to 8 years. Development cost related to technology and software has been recognized as an intangible asset because Medistim can demonstrate technological feasibility for the asset to be available for sale for both existing products and new products. The revenue potential for the projects exceeds the investment. The balance sheet value as of 31.12.2024 was MNOK 2.8. The estimates that form the basis for the intangible asset are performed by the management of the company, and there will always be a level of uncertainty in relation to the assessments that are performed on future revenue for future products. Capitalized development costs are depreciated over 3 to 8 years. 8 years is used if it is a new product on a new technological platform that creates the basis for a new generation of products. Based upon a platform or new generation of products there will be further developments and improvements. These enhancements of the products are depreciated over 3 years because of rapid technological development. Within 3 years, it is assumed that parts or all of existing technology is updated.In 2024, MNOK 18.6 of product technology additions, was recognized in the balance sheet related to the MiraQ products. The MiraQ platform forms the basis for future models from Medistim. All development activity is performed in the parent company. Product under Technology & Intangible assets 2024 (amount in NOK 1 000)developmentdevelopment cost Goodwill Total intangibleHistoric cost 01.01. 25 178 81 928 14 128 121 234 External additions 7 609 - - 7 609 Additions under development 9 637 - - 9 637Historic cost 31.12. 42 424 81 928 14 128 138 480Accumulated depreciations and write downs Accumulated depreciation and amortization expense - 75 860 - 75 860 Depreciations for the year - 3 284 - 3 284 Total depreciation as of 31.12 - 79 144 - 79 144 Carrying amount 31.12 42 424 2 784 14 128 59 336Product under Technology & Intangible assets 2023 (amount in NOK 1 000)developmentdevelopment cost Goodwill Total intangibleHistoric cost 01.01 11 851 81 928 14 128 107 907 External additions 3 543 - - 3 543Additions under development 9 784 - - 9 784 Historic cost 31.12 25 178 81 928 14 128 121 234 Accumulated depreciations and write downs Accumulated depreciation and amortization expense - 71 839 - 71 839 Depreciations for the year - 4 021 - 4 021 Total depreciation as of 31.12 - 75 860 - 75 860 Carrying amount 31.12 25 178 6 068 14 128 45 375 Intangible assets are depreciated on a straight-line basis over the useful life. Useful life for capitalized product development is 3 to 8 years.Product technologyProbes to vascular surgery \u2013 the PV probe:Within vascular surgery, there is a corresponding need to measure blood flow in the same manner as within cardiac surgery. Some vascular surgeons are already using Medistim\u2019s equipment even though the probes are designed for cardiac surgery. The market in vascular surgery is large and it is performed about 1 300 000 procedures annually. In comparison, about 700 000 procedures are performed per year within cardiac surgery. This is a significant market where Medistim can customize its solution with a modest investment. Book value as of 31.12.2024 was MNOK 0.8. Expected useful life for the PV probes are 8 years.4th generation of systems; the MiraQEntering into 2024, Medistim had invested MNOK 39.2 in the system platform that represent Medistim\u2019s 4th generation of systems within flow measurement and imaging to ensure quality and guiding during surgery. The platform has a flexibility that will allow customer adaption and new applications. The technological improvements have secured and strengthened Medistim\u2019s leading position. The MiraQ is the platform for all Medistim solutions. Book value for the MiraQ platform by year-end was MNOK 2.0. Expected lifetime for the product is 8 years. In the table above PV probes and MiraQ system is shown under technology and development cost.Additions under development:This is related to the development of new cardiac flow probes. The aim is to modernize design for the user to make it easier to use but also develop a design that is more efficient to have in production. Medistim has several years of experience with in-house production and input from customers on a better design on the probe for the user. With this extensive experience and knowledge, it is likely that a new probe will be developed with success. In 2024 MNOK 10.2 was invested in the project and book value by year end 2024 was MNOK 20.0.The next generation of software within both cardiac segment and vascular segment was under development during 2024. The new software has a new user interface and tools to aid the interpretation of the results. Medistim\u2019s Innovation team has together with Key Opinion Leaders tested several prototypes to identify the preferred solution. In 2024 MNOK 8.1 was invested in the software project and book value by year end 2024 was MNOK 21.3.Medistim needs to be compliant with the new Medical Device Regulation (MDR) In 2024, MNOK 0.3 was invested in making Medistim MDR compliant and book value at year end 2024 was MNOK 2.5. In the table above additions under development is shown under product under development.Summary product technologyIn total MNOK 16.4 of the R & D expenses was recorded in the P & L in 2024. Similar expense was MNOK 15.7 in 2023. With MNOK 18.6 recognized as asset a total of MNOK 35.0 was used in R & D in 2024. Comparable number for 2023 was MNOK 13.3 recognized as asset and total used in R&D was MNOK 29. Medistim received MNOK 1.4 in Skattefunn funds in 2024 and TNOK 309 in 2023.In the estimates used to test for impairment, the 3-year strategy plan is used with a discount rate of 16 %. See comment under goodwill with regard to discount rate. GoodwillA yearly test of values is done for the cash flow generating units that has a goodwill value in the balance sheet. Goodwill (amount in NOK 1 000) 2024 2023Acquisition of Medistim Norge AS and Kir-Op AS 14 128 14 128Total goodwill 14 128 14 128 A test of values is performed by estimating the cash flow for Medistim Norge AS. This is estimated using the company\u2019s budget for 2025 and 3-year strategy plan for the years 2026 to 2028 with the assumption of 2 % growth in 2029 compared to 2028. Cash flows for more than five years are estimated by using Gordon\u2019s growth formula with a 2 % growth in the terminal year. The cash flow is discounted using 16 % discount rate. This includes an additional yield of 9.7 % compared to risk free interest. The value of the discounted cash flow exceeded the recorded book value in the balance sheet and there was no need for a write down of goodwill.The estimates in the tests are most sensitive to changes in the following parameters: \u2022 Maintaining market share and product lines \u2022 Maintaining margins and keep competitive prices \u2022 Level of minimum return on investment \u2022 Future growth \u2022 Employee know-howMaintaining market share and product lines:Within the medical device industry there are major investments done in the development of products. Medistim Norge has certain product lines that have a large portion of total sales. Medistim Norge\u2019s financial situation will be affected if a new product was released in the market that would replace existing key products, and Medistim Norge is not distributor for the new product. The company would also be affected if a supplier changes distributor or chooses to go direct in the Norwegian market. For this reason it is important for the company to maintain know how and performance to secure key product lines. It is equally important that the company is able to see trends and take in new products with a future potential. The largest product line for the company has 20 % of total sales. If this product line is lost together with another line that is 5 \u2013 10 % of total sales, all goodwill needs to be written down.Maintain margins and keep competitive prices:Medistim Norge AS largest customers are Norwegian hospitals. The hospitals are continuously improving their purchasing routines and purchasing is centralized and professionalized. This increases the demand for better quality and prices from the suppliers. The company\u2019s ability to maintain prices by offering quality products and services is crucial in the competition for future contracts. The company is well connected to its suppliers and when the competition increases the suppliers is contributing by lowering their prices. However, it is not realistic to expect that the suppliers will compensate for all of the reduction in prices. The company\u2019s experience is that about 50 % of the price change is covered by the suppliers in an increased competitive situation. A price reduction of 10 % without any compensation from the suppliers is the break-even level for write down of goodwill. Weighted average capital cost (WACC):The company uses a WACC that is equal to risk free interest with an addition of a risk premium. This level is evaluated on a yearly basis and a change in the WACC could affect the evaluation of the intangible assets. Risk-free interest rate is based on 10-year government bond that at the beginning of the year was 3.9 %. In addition, a risk premium of 12.1 % is added and total discount rate is 16 %.Future growth:It is projected growth in sales with a variation from 5 % to 2 % in the budget and strategy period, and with 2 % growth in the terminal value. To be able to maintain this increase it is crucial that the company handles existing product lines in an effective manner and that the company is able to identify and get distribution agreements for new product lines that create more business than lost product lines. Employee know-how:Medistim Norge has over the years built a competence within the medical device industry and distribution. It is essential that this know-how is updated and passed on to new employees.Sensitivity analysis:With the assumption used in the impairment test, the recoverable amount exceeds the carrying amount with MNOK 93.5 (\u00abheadroom\u00bb), and no impairment loss is recognized. Operating margin and growth is based upon historic achieved margin and sales growth. In the estimates the budget and the projections from the 3-year strategy update is used. The operating margin in the projections vary between 14.9 % and 15.7 %. Sales growth vary between 5 % and 2 %If the operating margin is reduced from 15.0 % to 3.5 % everything else equal, carrying amount may require an evaluation of impairment loss. A change in the discount rate from 16 % to 55.0 % everything else equal, goodwill value is defended by the test. See overview below.Discount rate 16.0 % 28.0 % 55.0 %Headroom in MNOK 93.5 38.4 17.9Operating margin 15.7 % 7.7 % 3.5 %Headroom in MNOK 93.5 38.4 8.3",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__60": {
"value": "NOTE 12 INTANGIBLE ASSETS Product technology and additions, goodwill and license agreementIntangible assets are recognized in the balance sheet if it is probable that the future economic benefits will flow to the company, and the cost of the asset can be measured reliable. Intangible asset with finite economic life is measured at cost less accumulated amortization and write-downs. Amortization is done on a straight-line basis over expected lifetime. The amortization period and method are reviewed on a yearly basis. Intangible assets with indefinite useful life are not amortized but tested for impairment at least annually. Research and development:Research cost is expensed as incurred. Cost to internal development of technology or software is capitalized as an intangible asset when it is demonstrated that:\u2022 it is technically feasible to complete the asset\u2022 the company has the recourse to complete the project\u2022 the product will generate future economic benefits\u2022 expenditure can be reliable measured. Cost capitalized include materials, salary and social expenses and other expenses that can be allocated to the development of the asset. Internally developed intangible assets are amortized on a straight-line basis over the expected useful life. Amortization starts when the asset is available for use. Intangible assets not ready for use, is tested for impairment on a yearly basis. Capitalized development costs are written down when a new product is ready for sale, or an improved product is ready for sale. Internally develop intangible asset is tested for impairment on a regular basis by discounting expected cash flow generated from the asset. If the discounted value is lower than the carrying amount the asset is written down. Capitalized cost related to development of own products are depreciated on a straight-line basis over expected lifetime. Expected lifetime varies from 3 to 8 years. Development cost related to technology and software has been recognized as an intangible asset because Medistim can demonstrate technological feasibility for the asset to be available for sale for both existing products and new products. The revenue potential for the projects exceeds the investment. The balance sheet value as of 31.12.2024 was MNOK 2.8. The estimates that form the basis for the intangible asset are performed by the management of the company, and there will always be a level of uncertainty in relation to the assessments that are performed on future revenue for future products. Capitalized development costs are depreciated over 3 to 8 years. 8 years is used if it is a new product on a new technological platform that creates the basis for a new generation of products. Based upon a platform or new generation of products there will be further developments and improvements. These enhancements of the products are depreciated over 3 years because of rapid technological development. Within 3 years, it is assumed that parts or all of existing technology is updated.In 2024, MNOK 18.6 of product technology additions, was recognized in the balance sheet related to the MiraQ products. The MiraQ platform forms the basis for future models from Medistim. All development activity is performed in the parent company. Product under Technology & Intangible assets 2024 (amount in NOK 1 000)developmentdevelopment cost Goodwill Total intangibleHistoric cost 01.01. 25 178 81 928 14 128 121 234 External additions 7 609 - - 7 609 Additions under development 9 637 - - 9 637Historic cost 31.12. 42 424 81 928 14 128 138 480Accumulated depreciations and write downs Accumulated depreciation and amortization expense - 75 860 - 75 860 Depreciations for the year - 3 284 - 3 284 Total depreciation as of 31.12 - 79 144 - 79 144 Carrying amount 31.12 42 424 2 784 14 128 59 336Product under Technology & Intangible assets 2023 (amount in NOK 1 000)developmentdevelopment cost Goodwill Total intangibleHistoric cost 01.01 11 851 81 928 14 128 107 907 External additions 3 543 - - 3 543Additions under development 9 784 - - 9 784 Historic cost 31.12 25 178 81 928 14 128 121 234 Accumulated depreciations and write downs Accumulated depreciation and amortization expense - 71 839 - 71 839 Depreciations for the year - 4 021 - 4 021 Total depreciation as of 31.12 - 75 860 - 75 860 Carrying amount 31.12 25 178 6 068 14 128 45 375 Intangible assets are depreciated on a straight-line basis over the useful life. Useful life for capitalized product development is 3 to 8 years.Product technologyProbes to vascular surgery \u2013 the PV probe:Within vascular surgery, there is a corresponding need to measure blood flow in the same manner as within cardiac surgery. Some vascular surgeons are already using Medistim\u2019s equipment even though the probes are designed for cardiac surgery. The market in vascular surgery is large and it is performed about 1 300 000 procedures annually. In comparison, about 700 000 procedures are performed per year within cardiac surgery. This is a significant market where Medistim can customize its solution with a modest investment. Book value as of 31.12.2024 was MNOK 0.8. Expected useful life for the PV probes are 8 years.4th generation of systems; the MiraQEntering into 2024, Medistim had invested MNOK 39.2 in the system platform that represent Medistim\u2019s 4th generation of systems within flow measurement and imaging to ensure quality and guiding during surgery. The platform has a flexibility that will allow customer adaption and new applications. The technological improvements have secured and strengthened Medistim\u2019s leading position. The MiraQ is the platform for all Medistim solutions. Book value for the MiraQ platform by year-end was MNOK 2.0. Expected lifetime for the product is 8 years. In the table above PV probes and MiraQ system is shown under technology and development cost.Additions under development:This is related to the development of new cardiac flow probes. The aim is to modernize design for the user to make it easier to use but also develop a design that is more efficient to have in production. Medistim has several years of experience with in-house production and input from customers on a better design on the probe for the user. With this extensive experience and knowledge, it is likely that a new probe will be developed with success. In 2024 MNOK 10.2 was invested in the project and book value by year end 2024 was MNOK 20.0.The next generation of software within both cardiac segment and vascular segment was under development during 2024. The new software has a new user interface and tools to aid the interpretation of the results. Medistim\u2019s Innovation team has together with Key Opinion Leaders tested several prototypes to identify the preferred solution. In 2024 MNOK 8.1 was invested in the software project and book value by year end 2024 was MNOK 21.3.Medistim needs to be compliant with the new Medical Device Regulation (MDR) In 2024, MNOK 0.3 was invested in making Medistim MDR compliant and book value at year end 2024 was MNOK 2.5. In the table above additions under development is shown under product under development.Summary product technologyIn total MNOK 16.4 of the R & D expenses was recorded in the P & L in 2024. Similar expense was MNOK 15.7 in 2023. With MNOK 18.6 recognized as asset a total of MNOK 35.0 was used in R & D in 2024. Comparable number for 2023 was MNOK 13.3 recognized as asset and total used in R&D was MNOK 29. Medistim received MNOK 1.4 in Skattefunn funds in 2024 and TNOK 309 in 2023.In the estimates used to test for impairment, the 3-year strategy plan is used with a discount rate of 16 %. See comment under goodwill with regard to discount rate. GoodwillA yearly test of values is done for the cash flow generating units that has a goodwill value in the balance sheet. Goodwill (amount in NOK 1 000) 2024 2023Acquisition of Medistim Norge AS and Kir-Op AS 14 128 14 128Total goodwill 14 128 14 128 A test of values is performed by estimating the cash flow for Medistim Norge AS. This is estimated using the company\u2019s budget for 2025 and 3-year strategy plan for the years 2026 to 2028 with the assumption of 2 % growth in 2029 compared to 2028. Cash flows for more than five years are estimated by using Gordon\u2019s growth formula with a 2 % growth in the terminal year. The cash flow is discounted using 16 % discount rate. This includes an additional yield of 9.7 % compared to risk free interest. The value of the discounted cash flow exceeded the recorded book value in the balance sheet and there was no need for a write down of goodwill.The estimates in the tests are most sensitive to changes in the following parameters: \u2022 Maintaining market share and product lines \u2022 Maintaining margins and keep competitive prices \u2022 Level of minimum return on investment \u2022 Future growth \u2022 Employee know-howMaintaining market share and product lines:Within the medical device industry there are major investments done in the development of products. Medistim Norge has certain product lines that have a large portion of total sales. Medistim Norge\u2019s financial situation will be affected if a new product was released in the market that would replace existing key products, and Medistim Norge is not distributor for the new product. The company would also be affected if a supplier changes distributor or chooses to go direct in the Norwegian market. For this reason it is important for the company to maintain know how and performance to secure key product lines. It is equally important that the company is able to see trends and take in new products with a future potential. The largest product line for the company has 20 % of total sales. If this product line is lost together with another line that is 5 \u2013 10 % of total sales, all goodwill needs to be written down.Maintain margins and keep competitive prices:Medistim Norge AS largest customers are Norwegian hospitals. The hospitals are continuously improving their purchasing routines and purchasing is centralized and professionalized. This increases the demand for better quality and prices from the suppliers. The company\u2019s ability to maintain prices by offering quality products and services is crucial in the competition for future contracts. The company is well connected to its suppliers and when the competition increases the suppliers is contributing by lowering their prices. However, it is not realistic to expect that the suppliers will compensate for all of the reduction in prices. The company\u2019s experience is that about 50 % of the price change is covered by the suppliers in an increased competitive situation. A price reduction of 10 % without any compensation from the suppliers is the break-even level for write down of goodwill. Weighted average capital cost (WACC):The company uses a WACC that is equal to risk free interest with an addition of a risk premium. This level is evaluated on a yearly basis and a change in the WACC could affect the evaluation of the intangible assets. Risk-free interest rate is based on 10-year government bond that at the beginning of the year was 3.9 %. In addition, a risk premium of 12.1 % is added and total discount rate is 16 %.Future growth:It is projected growth in sales with a variation from 5 % to 2 % in the budget and strategy period, and with 2 % growth in the terminal value. To be able to maintain this increase it is crucial that the company handles existing product lines in an effective manner and that the company is able to identify and get distribution agreements for new product lines that create more business than lost product lines. Employee know-how:Medistim Norge has over the years built a competence within the medical device industry and distribution. It is essential that this know-how is updated and passed on to new employees.Sensitivity analysis:With the assumption used in the impairment test, the recoverable amount exceeds the carrying amount with MNOK 93.5 (\u00abheadroom\u00bb), and no impairment loss is recognized. Operating margin and growth is based upon historic achieved margin and sales growth. In the estimates the budget and the projections from the 3-year strategy update is used. The operating margin in the projections vary between 14.9 % and 15.7 %. Sales growth vary between 5 % and 2 %If the operating margin is reduced from 15.0 % to 3.5 % everything else equal, carrying amount may require an evaluation of impairment loss. A change in the discount rate from 16 % to 55.0 % everything else equal, goodwill value is defended by the test. See overview below.Discount rate 16.0 % 28.0 % 55.0 %Headroom in MNOK 93.5 38.4 17.9Operating margin 15.7 % 7.7 % 3.5 %Headroom in MNOK 93.5 38.4 8.3",
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"language": "en",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"value": "Product technology and additions, goodwill and license agreementIntangible assets are recognized in the balance sheet if it is probable that the future economic benefits will flow to the company, and the cost of the asset can be measured reliable. Intangible asset with finite economic life is measured at cost less accumulated amortization and write-downs. Amortization is done on a straight-line basis over expected lifetime. The amortization period and method are reviewed on a yearly basis. Intangible assets with indefinite useful life are not amortized but tested for impairment at least annually.",
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"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__65": {
"value": "Research and development:Research cost is expensed as incurred. Cost to internal development of technology or software is capitalized as an intangible asset when it is demonstrated that:\u2022 it is technically feasible to complete the asset\u2022 the company has the recourse to complete the project\u2022 the product will generate future economic benefits\u2022 expenditure can be reliable measured. Cost capitalized include materials, salary and social expenses and other expenses that can be allocated to the development of the asset. Internally developed intangible assets are amortized on a straight-line basis over the expected useful life. Amortization starts when the asset is available for use. Intangible assets not ready for use, is tested for impairment on a yearly basis. Capitalized development costs are written down when a new product is ready for sale, or an improved product is ready for sale. Internally develop intangible asset is tested for impairment on a regular basis by discounting expected cash flow generated from the asset. If the discounted value is lower than the carrying amount the asset is written down. Capitalized cost related to development of own products are depreciated on a straight-line basis over expected lifetime. Expected lifetime varies from 3 to 8 years. Development cost related to technology and software has been recognized as an intangible asset because Medistim can demonstrate technological feasibility for the asset to be available for sale for both existing products and new products. The revenue potential for the projects exceeds the investment. The balance sheet value as of 31.12.2024 was MNOK 2.8. The estimates that form the basis for the intangible asset are performed by the management of the company, and there will always be a level of uncertainty in relation to the assessments that are performed on future revenue for future products. Capitalized development costs are depreciated over 3 to 8 years. 8 years is used if it is a new product on a new technological platform that creates the basis for a new generation of products. Based upon a platform or new generation of products there will be further developments and improvements. These enhancements of the products are depreciated over 3 years because of rapid technological development. Within 3 years, it is assumed that parts or all of existing technology is updated.In 2024, MNOK 18.6 of product technology additions, was recognized in the balance sheet related to the MiraQ products. The MiraQ platform forms the basis for future models from Medistim. All development activity is performed in the parent company.",
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"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"value": "Additions under development:This is related to the development of new cardiac flow probes. The aim is to modernize design for the user to make it easier to use but also develop a design that is more efficient to have in production. Medistim has several years of experience with in-house production and input from customers on a better design on the probe for the user. With this extensive experience and knowledge, it is likely that a new probe will be developed with success. In 2024 MNOK 10.2 was invested in the project and book value by year end 2024 was MNOK 20.0.The next generation of software within both cardiac segment and vascular segment was under development during 2024. The new software has a new user interface and tools to aid the interpretation of the results. Medistim\u2019s Innovation team has together with Key Opinion Leaders tested several prototypes to identify the preferred solution. In 2024 MNOK 8.1 was invested in the software project and book value by year end 2024 was MNOK 21.3.Medistim needs to be compliant with the new Medical Device Regulation (MDR) In 2024, MNOK 0.3 was invested in making Medistim MDR compliant and book value at year end 2024 was MNOK 2.5. In the table above additions under development is shown under product under development.",
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"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"value": "GoodwillA yearly test of values is done for the cash flow generating units that has a goodwill value in the balance sheet. Goodwill (amount in NOK 1 000) 2024 2023Acquisition of Medistim Norge AS and Kir-Op AS 14 128 14 128Total goodwill 14 128 14 128 A test of values is performed by estimating the cash flow for Medistim Norge AS. This is estimated using the company\u2019s budget for 2025 and 3-year strategy plan for the years 2026 to 2028 with the assumption of 2 % growth in 2029 compared to 2028. Cash flows for more than five years are estimated by using Gordon\u2019s growth formula with a 2 % growth in the terminal year. The cash flow is discounted using 16 % discount rate. This includes an additional yield of 9.7 % compared to risk free interest. The value of the discounted cash flow exceeded the recorded book value in the balance sheet and there was no need for a write down of goodwill.The estimates in the tests are most sensitive to changes in the following parameters: \u2022 Maintaining market share and product lines \u2022 Maintaining margins and keep competitive prices \u2022 Level of minimum return on investment \u2022 Future growth ",
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"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__63": {
"value": "GoodwillA yearly test of values is done for the cash flow generating units that has a goodwill value in the balance sheet. Goodwill (amount in NOK 1 000) 2024 2023Acquisition of Medistim Norge AS and Kir-Op AS 14 128 14 128Total goodwill 14 128 14 128 A test of values is performed by estimating the cash flow for Medistim Norge AS. This is estimated using the company\u2019s budget for 2025 and 3-year strategy plan for the years 2026 to 2028 with the assumption of 2 % growth in 2029 compared to 2028. Cash flows for more than five years are estimated by using Gordon\u2019s growth formula with a 2 % growth in the terminal year. The cash flow is discounted using 16 % discount rate. This includes an additional yield of 9.7 % compared to risk free interest. The value of the discounted cash flow exceeded the recorded book value in the balance sheet and there was no need for a write down of goodwill.The estimates in the tests are most sensitive to changes in the following parameters: \u2022 Maintaining market share and product lines \u2022 Maintaining margins and keep competitive prices \u2022 Level of minimum return on investment \u2022 Future growth ",
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"language": "en",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"value": "NOTE 13 SHARES IN SUBSIDIARIESShares in subsidiaries (amount in NOK 1 000)Balance sheet Unit Country Segment Ownershipvalue 31.12.2024 Profit in 2024Lease and sale within bypass surgery and Medistim USA Inc. USAvascular surgery 100 % 135 6 121Medistim Deutschland Capital sales within bypass surgery and GmbH Germanyvascular surgery 100 % 188 7 128Sale of third-party products and capital sales Medistim Norge AS Norwaywithin bypass surgery and vascular surgery 100 % 36 954 11 746Capital sales within bypass surgery and Medistim UK LTD UKvascular surgery 100 % 1 -345Medistim Japan KK Japan Dornmat company 100 % 86 -Capital sales within bypass surgery and Medistim Canada Inc. Canadavascular surgery 100 % 1 -2 713Medistim China Ltd China Service provider for distributors in China 100 % 1 002 -64Capital sales within bypass surgery and Medistim Spain S.L Spainvascular surgery 100 % 29 3 320Sale of third-party products and capital sales Medistim Danmark Aps Denmarkwithin bypass surgery and vascular surgery 100 % - 1 428Sale of third-party products and capital sales Medistim Sweden AB Swedenwithin bypass surgery and vascular surgery 100 % - -401Total shares in subsidiaries 38 395 26 220",
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"concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__67": {
"value": "NOTE 13 SHARES IN SUBSIDIARIESShares in subsidiaries (amount in NOK 1 000)Balance sheet Unit Country Segment Ownershipvalue 31.12.2024 Profit in 2024Lease and sale within bypass surgery and Medistim USA Inc. USAvascular surgery 100 % 135 6 121Medistim Deutschland Capital sales within bypass surgery and GmbH Germanyvascular surgery 100 % 188 7 128Sale of third-party products and capital sales Medistim Norge AS Norwaywithin bypass surgery and vascular surgery 100 % 36 954 11 746Capital sales within bypass surgery and Medistim UK LTD UKvascular surgery 100 % 1 -345Medistim Japan KK Japan Dornmat company 100 % 86 -Capital sales within bypass surgery and Medistim Canada Inc. Canadavascular surgery 100 % 1 -2 713Medistim China Ltd China Service provider for distributors in China 100 % 1 002 -64Capital sales within bypass surgery and Medistim Spain S.L Spainvascular surgery 100 % 29 3 320Sale of third-party products and capital sales Medistim Danmark Aps Denmarkwithin bypass surgery and vascular surgery 100 % - 1 428Sale of third-party products and capital sales Medistim Sweden AB Swedenwithin bypass surgery and vascular surgery 100 % - -401Total shares in subsidiaries 38 395 26 220",
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"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"value": "NOTE 14 INVENTORYSpecification of inventory (amount in NOK 1 000) 2024 2023Raw material 75 588 65 035Work in progress 2 259 3 604Finished goods 71 023 64 047Spare parts 9 437 9 638Third party products 11 220 11 285Inventory provision -9 007 -8 217Total inventory 160 521 145 391Inventory is valued at the lower of cost, using the FIFO principle, and net realizable value. Production cost includes the cost for components, cost of conversion (including direct labor cost) and other cost in bringing the inventories to their present location and condition. Net realizable value is the estimated sales price in the ordinary course of business less cost of completion and selling cost.It is necessary for the company to keep an additional security inventory for critical components for own developed products. Due to a strict regulatory regime within medical device, it takes time to introduce new devices or components. At the same time the tendency is that electronical components life circle is shorter. For this reason, inventory level is high to secure future deliveries for Medistim developed products. Inventory is used as security for loan, see \u201cNote 18 non-current liabilities\u201d.Specification of inventory provision (amount in NOK 1 000) 2024 2023Demonstration products 3 896 3 837Spare parts 4 911 4 180Third party products 200 200Total inventory provision 9 007 8 217Inventory provision is continuously evaluated based upon end-of-life components, regulatory approvals and service obligations.Medistim Annual Report - Fiscal year 2024 | page 84 ",
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"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__70": {
"value": "Inventory is valued at the lower of cost, using the FIFO principle, and net realizable value. Production cost includes the cost for components, cost of conversion (including direct labor cost) and other cost in bringing the inventories to their present location and condition. Net realizable value is the estimated sales price in the ordinary course of business less cost of completion and selling cost.It is necessary for the company to keep an additional security inventory for critical components for own developed products. Due to a strict regulatory regime within medical device, it takes time to introduce new devices or components. At the same time the tendency is that electronical components life circle is shorter. For this reason, inventory level is high to secure future deliveries for Medistim developed products. Inventory is used as security for loan, see \u201cNote 18 non-current liabilities\u201d.",
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"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"value": "NOTE 15 ACCOUNTS RECEIVABLES AND OTHER CURRENT RECEIVABLESAging accounts receivable 2024 (amount in NOK 1 000) Not due 0-30 days 31-60 days 61-90 days Over 91 days TotalExpected loss in % 0,00 % 0,00 % 0,00 % 0,00 % 39,04 %Book value of receivables 21 504 17 564 21 018 7 338 2 554 69 977 Expected credit loss - - - - 997 997 Total accounts receivable 2024 21 504 17 564 21 018 7 338 1 557 68 980 Aging accounts receivable 2023 (amount in NOK 1 000) Not due 0-30 days 31-60 days 61-90 days Over 91 days TotalExpected loss in % 0.00 % 0.00 % 0.00 % 0.00 % 31.90 %Book value of receivables 38 889 13 000 6 959 13 327 3 125 75 300 Expected credit loss - - - - 997 997 Total accounts receivable 2023 38 889 13 000 6 959 13 327 2 128 74 303 All receivables are due within one year. Historically the group losses have been limited. End customers are often public hospitals with government funding and the risks for losses are low. However, days sales outstanding is high compared to other businesses, something that the aging receivables confirm. The increase in expected credit loss is related to one specific case. Receivables is used as security for loan, see \u201cNote 18 non-current liabilities\u201d. Other current receivables are shown in the following table.Other current receivables (amount in NOK 1 000) 2024 2023Other pre-payments 5 635 4 671 Unrealized value foreign currency 4 038 3 389 VAT receivable 5 723 6 958 Other 5 025 2 982 Total other current receivables 20 421 18 000",
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"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__72": {
"value": "All receivables are due within one year. Historically the group losses have been limited. End customers are often public hospitals with government funding and the risks for losses are low. However, days sales outstanding is high compared to other businesses, something that the aging receivables confirm. The increase in expected credit loss is related to one specific case. Receivables is used as security for loan, see \u201cNote 18 non-current liabilities\u201d. Other current receivables are shown in the following table.",
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"language": "en",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"value": "Other current receivables (amount in NOK 1 000) 2024 2023Other pre-payments 5 635 4 671 Unrealized value foreign currency 4 038 3 389 VAT receivable 5 723 6 958 Other 5 025 2 982 Total other current receivables 20 421 18 000",
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"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"value": "NOTE 16 CASH AND CASH EQUIVALENTSCash and cash equivalents (amount in NOK 1 000) 2024 2023Available cash in bank 171 272 146 082Restricted cash in bank 7 938 7 790Cash and cash equivalents 179 210 153 872Cash includes bank deposits. As of 31.12.2024 the restricted cash was TNOK 7 938 related to tax withheld on salaries. Restricted cash as of 31.12.2023 was TNOK 7 790 and was related to tax withheld from salaries. The holding company did not have a credit facility by year end 2024.",
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"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"value": "Restricted cash as of 31.12.2023 was TNOK 7 790 and was related to tax withheld from salaries. The holding company did not have a credit facility by year end 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__77": {
"value": "NOTE 17 SHAREHOLDER INFORMATIONThe company had 18 337 336 shares at par value of NOK 0.25 per share and total share capital amount to NOK 4 584 334. There is only one class of shares, and all shares are treated equally. Each share represents one vote. Change in issued share capital in 2024: Status for change in issued share capital as of 31.12.2024 (amount in NOK 1 000) Number of shares Par value per share Share capital in NOKShare capital 01.01.2024 1 833 733 NOK 0.25 NOK 4 548 334Changes - -Share capital 31.12.24 1 833 733 NOK 0.25 NOK 4 584 334The Board of Directors received by the shareholders meeting the 24th of April 2024 permission to purchase up to 1 833 733 Medistim ASA shares at par value NOK 458 433. The permission is valid until the next ordinary general assembly in 2025 in the price range of NOK 0.25 to NOK 500 per share. Further the Board of Directors got permission to increase share capital with NOK 458 433 or issue 1 833 733 new shares at par value NOK 0.25. The permission can be used if there is a decision to enter into a merger, acquire another company or to create an option program. The permission is valid until the next ordinary shareholders meeting in 2025. See below for changes in the equity for the last year.Status for the permissions as of 31.12.2024 (amount in NOK 1 000) Par value per share Share capital in NOKPermission given at the shareholders meeting in 2024 1 833 733 1 833 733Permissions used - -Number of shares 31.12.2024 1 833 733 1 833 733The company owned 23 117 Medistim shares as of 31.12.2024. Number of Medistim shares by 01.01.2024 was 55 617. The 20 largest shareholders in the company were as of 31.12.2024:Shareholder Number of shares Share in % of TotalACAPITAL MEDI HOLDCO AS 1 900 219 10,36 %FL\u00d8TEMARKEN AS 1 285 000 7,01 %State Street Bank and Trust Comp 1 249 576 6,81 %VERDIPAPIRFOND ODIN NORDEN 1 180 000 6,43 %FOLLUM INVEST AS 970 000 5,29 %State Street Bank and Trust Comp 890 961 4,86 %Skandinaviska Enskilda Banken AB 813 801 4,44 %VERDIPAPIRFONDET HOLBERG NORGE 684 414 3,73 %ODIN Small Cap 600 000 3,27 %State Street Bank and Trust Comp 549 946 3,00 %J.P. Morgan SE 517 566 2,82 %The Northern Trust Comp, London Br 440 375 2,40 %SKANDINAVISKA ENSKILDA BANKEN AB 413 146 2,25 %BUANES 383 277 2,09 %Skandinaviska Enskilda Banken AB 355 802 1,94 %SKANDINAVISKA ENSKILDA BANKEN AB 337 332 1,84 %J.P. Morgan SE 330 000 1,80 %BNP Paribas 277 535 1,51 %The Bank of New York Mellon SA/NV 268 000 1,46 %BNP Paribas 263 705 1,44 %Total 20 largest shareholders 13 710 655 74,77 %Total number of shares outstanding 18 337 336 Board members and management team with shares in the company:Board members and management team with shares in the company Shareholder Number of shares Shares in % of Total PositionTove Raanes via Trane AS 1 990 0.01 % Board MemberRoger Morberg 16 259 0.09 % VP Sales APACErik Swensen 10 994 0.06 % VP DevelopmentThomas Jakobsen 30 526 0.17 % CFOKari Eian Krogstad 47 083 0.26 % CEO\u00d8yvin A. Br\u00f8ymer (Fl\u00f8temarken AS) 1 285 000 7.01 % ChairAnne Waaler 2 440 0.01 % VP Medical H\u00e5kon Gr\u00f8the (Gr\u00f8ten Invest AS) 7 821 0.04 % VP InnovationStephanie d'Avout Stenhagen 2 784 0.02 % VP Sales EMEAOle Dalhberg 1 240 0.01 % Board memberTone Veiteberg 1 990 0.01 % VP QA\\RegulatoryH\u00e6ge Wetterhus 1 591 0.01 % VP MarketingOle Arne Eiksund 5 872 0.03 % CBDOAnna Ahlberg 400 0,002% Board MemberJon Helge Hoem 125 0.001 % Board MemberThere were no share options outstanding as of 31.12.2024 except from the share program to CEO described under chapter 8 Corporate Governance under compensation to management and \u201cNote 21 Related party transactions\u201d.",
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},
"f0__s7__6__76-1": {
"value": "Board members and management team with shares in the company:Board members and management team with shares in the company Shareholder Number of shares Shares in % of Total PositionTove Raanes via Trane AS 1 990 0.01 % Board MemberRoger Morberg 16 259 0.09 % VP Sales APACErik Swensen 10 994 0.06 % VP DevelopmentThomas Jakobsen 30 526 0.17 % CFOKari Eian Krogstad 47 083 0.26 % CEO\u00d8yvin A. Br\u00f8ymer (Fl\u00f8temarken AS) 1 285 000 7.01 % ChairAnne Waaler 2 440 0.01 % VP Medical H\u00e5kon Gr\u00f8the (Gr\u00f8ten Invest AS) 7 821 0.04 % VP InnovationStephanie d'Avout Stenhagen 2 784 0.02 % VP Sales EMEAOle Dalhberg 1 240 0.01 % Board memberTone Veiteberg 1 990 0.01 % VP QA\\RegulatoryH\u00e6ge Wetterhus 1 591 0.01 % VP MarketingOle Arne Eiksund 5 872 0.03 % CBDOAnna Ahlberg 400 0,002% Board MemberJon Helge Hoem 125 0.001 % Board MemberThere were no share options outstanding as of 31.12.2024 except from the share program to CEO described under chapter 8 Corporate Governance under compensation to management and \u201cNote 21 Related party transactions\u201d.NOTE 21 RELATED PARTY TRANSACTIONSCompensation to managementThe management group consists of 12 people including CEO. Compensation and benefits to the management group in 2024:COMPENSATION AND BENEFITS TO THE MANAGEMENT GROUP IN 2024Share based Management Position Salary Bonus Pensioncompensation Other TotalH\u00e6ge Johanne Krogh Wetterhus VP Marketing 1 532 492 178 476 116 173 - 15 532 1 842 673 Anne Waaler VP Medical 1 538 604 208 963 93 499 - 31 496 1 872 561 Roger Reino Morberg VP Sales APAC 1 926 097 - 109 719 - 40 706 2 076 523 Erik Swensen VP Development 1 552 545 110 012 105 952 - 4 480 1 772 989 Tone Ann Veiteberg VP QA\\Reg 1 345 238 190 847 85 507 - 4 480 1 626 072 Stephanie d\u2019Avout Stenhagen VP Sales EMEA 1 432 563 140 106 104 438 - 32 724 1 709 831 Helge B\u00f8rslid VP Operations 1 444 589 152 558 99 469 - 6 322 1 702 938 Mike Farbelow VP Sales AMERICAS 2 738 850 508 528 109 554 - - 3 356 933 H\u00e5kon Gr\u00f8the VP Innovation 1 446 643 205 373 99 878 - 22 679 1 774 572 Ole Arne Eiksund CBDO 1 521 907 206 310 97 842 - 24 128 1 850 187 Kari Eian Krogstad CEO Medistim ASA 3 341 915 - 111 031 1 926 000 16 146 5 395 092 Thomas Jakobsen CFO Medistim ASA 2 142 690 - 106 970 - 8 164 2 257 824 Total compensation and benefits 21 964 132 1 901 173 1 240 032 1 926 000 206 857 27 238 194There is no severance pay agreements towards any in the management team in case of leaving the company. All members of the management group have a two-way arrangement of 3 months\u2019 notice. The exception is management in the US that has no notice period. The management group has the same pension plan as other employees. For Norwegian members of the management group, this is a contribution plan that covers 5 % of salary up to 7.1 G and 8 % of salary for G between 7.1 and 12. 1G equals NOK 124 028. Management in the US has a contribution plan that covers 4 % of salary. Share based paymentsThe group has a share-based payment scheme for its CEO. The program is settled in shares. The fair value of the option at the grant date, is expensed over the vesting period. The expense is included in \u201csalary and social expenses\u201d in the income statement and a corresponding amount is recognized as other paid-in capital.The board decides incentives to CEO. Bonus and incentives to the management group is decided by the CEO. Bonus and incentives for both management group and CEO is based on achieved results. The table shows the bonus paid in 2024. Some members of the management group have loan from the company at tax free interest rate related to the share program offered to the Management team in 2023. Compensation to the board was TNOK 2 240 in 2024 and TNOK 1 800 in 2023. The chairman received TNOK 500 as compensation in 2024 and TNOK 475 in 2023 The board members received a total TNOK 290 each as compensation in 2024, a total of TNOK 1 740. In 2023 they received TNOK 265 each, a total of TNOK 1 325. Board member, Jon Hoem, received TNOK 92 related to support in strategy evaluations.The nomination committee leader received a compensation of TNOK 20, while the two other members received TNOK 15 each. In total, the nomination committee received TNOK 50 as compensation.Compensation to Audit committee and remuneration committee was TNOK 120 and TNOK 35 respectively.In 2024 a new agreement was entered, replacing the prior agreement between the company and the CEO, related to the share program. The CEO 100 % owned company, K2 Consulting AS, purchased the shares from Medistim ASA with a lock in period of 1 year for the 7 500 shares and a lock in period of 2 years for the 8 000 shares. The lock in period of 1 year qualified for a 14 % share price discount and the 2 year lock in period qualified for an 18 % discount. Average share price in the subscription period was NOK 216 per share. 7 500 shares were therefore purchased at NOK 185.83 per share and 8 000 shares were purchased at NOK 177.19 per share. To finance the purchase, Medistim gave CEO a loan and when the lock in period has ended, she is given a bonus equal to the loan amount. Future grants in the CEO share program is on the same terms. Under the same program another 8 000 shares was purchased at a 25 % discount in 2024 and a 3 year lock in period. Average share price in the subscription period was NOK 193 per share and the shares was therefore purchased at NOK 144.56 per share. Even though the changes formally are established through cancelling the old agreements and establishing new agreements with the CEO this is recognised as a change in an existing plan. The change in value of the incentive program was minor when transitioning from the old agreement to the new one, therefore the annual expense is based on the original recognition.Share program CEO 2024 2025 2026 2027Shares granted 9 000 7 500 8 000 8 000 Ending balance - 7 500 15 500 23 500 Share price at the time of grant in NOK - 296 219 204 Total expense in NOK - 2 220 000 1 752 000 1 632 000 Expense per grant per year in NOK - 740 000 584 000 544 000 Annual expense in NOK for the grant in 2024 1 868 000Transactions with related partiesThere were no other transactions than the above described share program for management towards related parties in 2023 or in 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__78": {
"value": "NOTE 18 NON-CURRENT LIABILITIESLoan and borrowings are initially recognized at fair value net of directly attributable transaction costs, and subsequently measuring at amortized cost. Medistim\u2019s non-current liabilities are related to lease contract. The lease agreements are described under \u201cNote 7 Right to use assets\u201d.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__80": {
"value": "NOTE 19 OTHER CURRENT LIABILITIESOther current liabilities (amount in NOK 1 000) 2024 2023Accrual for public taxes 11 887 11 388 Accrual for holiday pay 9 976 9 882 Accrual for salaries, commission and board member fee 14 087 7 192 Accrual for customer and supplier obligations 3 749 1 550 Other 10 428 1 413 Total other current liabilities 50 127 31 426",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__79": {
"value": "NOTE 19 OTHER CURRENT LIABILITIESOther current liabilities (amount in NOK 1 000) 2024 2023Accrual for public taxes 11 887 11 388 Accrual for holiday pay 9 976 9 882 Accrual for salaries, commission and board member fee 14 087 7 192 Accrual for customer and supplier obligations 3 749 1 550 Other 10 428 1 413 Total other current liabilities 50 127 31 426",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__81-1": {
"value": "NOTE 20 FINANCIAL RISK The group\u2019s main source of financing is equity based from the company\u2019s operating profits.Financial liabilities are leasing agreements, and accounts payable. The financial liabilities and facilities are instruments that contribute to the financing of the group\u2019s operational activities. The group\u2019s financial assets are accounts receivables, and cash. From time to time the group also enters into financial derivative contracts to hedge currency exposure. Hedge accounting is not applied. The risk arising from financial instruments is market risk, credit risk towards customers, and liquidity risk.Market risk:Interest rate risk:The group had as of 31.12.2024 no interest-bearing liabilities. If the group needs a loan, it is group policy to have floating interest since this will be the lowest interest rate over time. In general, the group considers the exposure towards changes in interest rates as low.Credit and liquidity risk:Other financial risk as credit risk and liquidity risk is viewed by the company as low based upon the group\u2019s financial position as of 31.12.2024.Credit risk:The group is at some extent exposed towards credit risk. The general risk is low since the majority of customers are financed by public authorities. Still history records for payments, the size of the transaction and the other party\u2019s credit risk is evaluated from case to case. The level of credit given is evaluated when there is a change in market conditions. The level of risk is reduced by using bank guaranties and prepayments in cases where the level of risk is found to be higher than normally accepted. See \u201cNote 15 Accounts receivables and other receivables\u201d for a table showing the aging of accounts receivables. Liquidity risk:Liquidity risk is the risk that the group is not able to meet its obligations in time. Managing liquidity risk is therefore prioritized to secure financial flexibility. Medistim main source of cash is cash generated from operations. The group has over the last 5 years experienced an increase in profit and available cash. Therefore, the group has been able to build up a cash reserve due to strong profits to handle the increased need for working capital as the group grows. The liquidity buffer also secures cash in situations where the incoming cash is delayed. Macroeconomic turmoil:Despite challenging market conditions, the company have been able to deliver solid profit and cash flow over the years. The need for Medistim\u2019s products has not changed, even if the global market has been facing macro-economic turmoil, with energy crisis, inflation pressure, increasing interest rates, higher cost levels and threat of higher tariff rates. The non-current consequences of growing geopolitical uncertainty are unclear but might lead to continuing challenges in the global flow of goods. Medistim is taking mitigating actions to ensure access to key components to secure production and maintain growth and profitability also for the future. Further, the company is financially solid to face future challenges, with no interest-bearing liability and an equity ratio of 75.9 %. The following table sets out the maturity profile of the financial liabilities based on contractual discounted payments.Overview of liabilities 2024 (amount in NOK 1 000)Between 3-12 Overview of liabilities in 2024 Within 3 monthsmonths 1 to 5 years Over 5 years TotalLease liabilities 2 326 6 979 21 457 3 600 34 362 Accounts payable 17 730 - - - 17 730 Deferred revenue 272 815 1 101 - 2 188 Income tax - 27 375 - - 27 375 Other liability see note 18,19,22 39 665 17 037 - - 56 702 Total liabilities 59 992 52 207 22 558 3 600 138 357 Overview of liabilities 2023 (amount in NOK 1 000)Between 3-12 Overview of liabilities in 2023 Within 3 monthsmonths 1 to 5 years Over 5 years TotalLease liabilities 2 287 6 861 6 303 2 192 17 643 Accounts payable 25 083 - - - 25 083 Deferred revenue 557 1 670 2 006 - 4 234 Income tax - 28 404 - - 28 404 Other liability see note 18,19,22 14 799 17 615 - - 32 414 Total liabilities 42 725 54 551 8 309 2 192 107 777 Capital Management:Management strives to strengthen the group\u2019s healthy financial position through profit and a high level of equity. This will secure continued growth and will maximize shareholders values. The group will adjust capital structure to adapt to changes in the financial climate. Capital structure can be adjusted through dividend, repayment of share capital or issue new shares. There were no changes in the financial strategy in the group in 2023 or 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__86": {
"value": "The group\u2019s main source of financing is equity based from the company\u2019s operating profits.Financial liabilities are leasing agreements, and accounts payable. The financial liabilities and facilities are instruments that contribute to the financing of the group\u2019s operational activities. The group\u2019s financial assets are accounts receivables, and cash. From time to time the group also enters into financial derivative contracts to hedge currency exposure. Hedge accounting is not applied. The risk arising from financial instruments is market risk, credit risk towards customers, and liquidity risk",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__85": {
"value": "The group\u2019s main source of financing is equity based from the company\u2019s operating profits.Financial liabilities are leasing agreements, and accounts payable. The financial liabilities and facilities are instruments that contribute to the financing of the group\u2019s operational activities. The group\u2019s financial assets are accounts receivables, and cash. From time to time the group also enters into financial derivative contracts to hedge currency exposure. Hedge accounting is not applied. The risk arising from financial instruments is market risk, credit risk towards customers, and liquidity risk",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__82": {
"value": "The group\u2019s main source of financing is equity based from the company\u2019s operating profits.Financial liabilities are leasing agreements, and accounts payable. The financial liabilities and facilities are instruments that contribute to the financing of the group\u2019s operational activities. The group\u2019s financial assets are accounts receivables, and cash. From time to time the group also enters into financial derivative contracts to hedge currency exposure. Hedge accounting is not applied. The risk arising from financial instruments is market risk, credit risk towards customers, and liquidity risk.Market risk:",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__83": {
"value": "Foreign exchange rates risk:The group may use forward exchange contracts to reduce exposure towards USD and EUR. Financial derivatives are recognized at fair value through profit and loss. Change in fair value is recognized in profit and loss and is presented as financial income or expense. Unrealized gains or losses are recorded in the same manner as realized gains and losses.Change in exchange rates involves a direct and indirect financial risk for Medistim ASA. The company has revenue and expenses in EUR and USD where most revenue is in EUR and USD and expenses mostly in NOK. The development in NOK towards USD and EUR is continuously monitored. The management and Board of directors evaluate the handling of risks related to exchange rates fluctuations continuously together with its professional advisers. By the end of 2024 the company had no forward exchange contracts.The group had a credit facility of MNOK 6.0 to enter hedging contracts. The facility represents 10 % of the value of the contracts the group can use and the group can enter hedging contracts for a total of MNOK 60. Security related to the facility is related to assets, accounts receivable and inventory with no limit. Book value of secured items was as of 31.12.2024 MNOK 25.3 for assets, MNOK 65.9 for accounts receivables and MNOK 122.6 for inventory.Financial assets and liabilities (amount in NOK 1 000)2024 2023Financial assets Original value Gain/loss Book value Original value Gain/loss Book valueCash in USD 8 964 3 969 12 933 8 061 2 027 10 088Cash in EUR 20 203 -1 795 18 408 5 740 1 689 7 429Accounts receivable in EUR 14 564 251 14 815 21 556 506 22 062Forward currency contracts in EUR - - - - 1 710 1 710Forward currency contracts in USD - - - - 1 680 1 680Financial liabilityAccounts payable in EUR 1 405 -44 1 449 2 971 -60 3 031Accounts payable in USD 590 8 598 761 -41 720Effect on profit if currency changes with 5% (amount in NOK 1 000)2024 2023Original value Gain/loss Book value Original value Gain/loss Book valueTotal exposure towards EUR 33 362 -1 500 31 774 24 325 3 965 28 170Total exposure towards USD 8 374 3 961 12 335 7 300 3 748 11 0485 % increase EUR 1 589 1 4095 % increase USD 617 5525 % decrease EUR -1 513 -1 3415 % decrease USD -587 -526",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__87": {
"value": "Credit risk:The group is at some extent exposed towards credit risk. The general risk is low since the majority of customers are financed by public authorities. Still history records for payments, the size of the transaction and the other party\u2019s credit risk is evaluated from case to case. The level of credit given is evaluated when there is a change in market conditions. The level of risk is reduced by using bank guaranties and prepayments in cases where the level of risk is found to be higher than normally accepted. See \u201cNote 15 Accounts receivables and other receivables\u201d for a table showing the aging of accounts receivables. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__88": {
"value": "Liquidity risk:Liquidity risk is the risk that the group is not able to meet its obligations in time. Managing liquidity risk is therefore prioritized to secure financial flexibility. Medistim main source of cash is cash generated from operations. The group has over the last 5 years experienced an increase in profit and available cash. Therefore, the group has been able to build up a cash reserve due to strong profits to handle the increased need for working capital as the group grows. The liquidity buffer also secures cash in situations where the incoming cash is delayed.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__89": {
"value": "Capital Management:Management strives to strengthen the group\u2019s healthy financial position through profit and a high level of equity. This will secure continued growth and will maximize shareholders values. The group will adjust capital structure to adapt to changes in the financial climate. Capital structure can be adjusted through dividend, repayment of share capital or issue new shares. There were no changes in the financial strategy in the group in 2023 or 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__92": {
"value": "NOTE 21 RELATED PARTY TRANSACTIONSCompensation to managementThe management group consists of 12 people including CEO. Compensation and benefits to the management group in 2024:COMPENSATION AND BENEFITS TO THE MANAGEMENT GROUP IN 2024Share based Management Position Salary Bonus Pensioncompensation Other TotalH\u00e6ge Johanne Krogh Wetterhus VP Marketing 1 532 492 178 476 116 173 - 15 532 1 842 673 Anne Waaler VP Medical 1 538 604 208 963 93 499 - 31 496 1 872 561 Roger Reino Morberg VP Sales APAC 1 926 097 - 109 719 - 40 706 2 076 523 Erik Swensen VP Development 1 552 545 110 012 105 952 - 4 480 1 772 989 Tone Ann Veiteberg VP QA\\Reg 1 345 238 190 847 85 507 - 4 480 1 626 072 Stephanie d\u2019Avout Stenhagen VP Sales EMEA 1 432 563 140 106 104 438 - 32 724 1 709 831 Helge B\u00f8rslid VP Operations 1 444 589 152 558 99 469 - 6 322 1 702 938 Mike Farbelow VP Sales AMERICAS 2 738 850 508 528 109 554 - - 3 356 933 H\u00e5kon Gr\u00f8the VP Innovation 1 446 643 205 373 99 878 - 22 679 1 774 572 Ole Arne Eiksund CBDO 1 521 907 206 310 97 842 - 24 128 1 850 187 Kari Eian Krogstad CEO Medistim ASA 3 341 915 - 111 031 1 926 000 16 146 5 395 092 Thomas Jakobsen CFO Medistim ASA 2 142 690 - 106 970 - 8 164 2 257 824 Total compensation and benefits 21 964 132 1 901 173 1 240 032 1 926 000 206 857 27 238 194There is no severance pay agreements towards any in the management team in case of leaving the company. All members of the management group have a two-way arrangement of 3 months\u2019 notice. The exception is management in the US that has no notice period. The management group has the same pension plan as other employees. For Norwegian members of the management group, this is a contribution plan that covers 5 % of salary up to 7.1 G and 8 % of salary for G between 7.1 and 12. 1G equals NOK 124 028. Management in the US has a contribution plan that covers 4 % of salary. Share based paymentsThe group has a share-based payment scheme for its CEO. The program is settled in shares. The fair value of the option at the grant date, is expensed over the vesting period. The expense is included in \u201csalary and social expenses\u201d in the income statement and a corresponding amount is recognized as other paid-in capital.The board decides incentives to CEO. Bonus and incentives to the management group is decided by the CEO. Bonus and incentives for both management group and CEO is based on achieved results. The table shows the bonus paid in 2024. Some members of the management group have loan from the company at tax free interest rate related to the share program offered to the Management team in 2023. Compensation to the board was TNOK 2 240 in 2024 and TNOK 1 800 in 2023. The chairman received TNOK 500 as compensation in 2024 and TNOK 475 in 2023 The board members received a total TNOK 290 each as compensation in 2024, a total of TNOK 1 740. In 2023 they received TNOK 265 each, a total of TNOK 1 325. Board member, Jon Hoem, received TNOK 92 related to support in strategy evaluations.The nomination committee leader received a compensation of TNOK 20, while the two other members received TNOK 15 each. In total, the nomination committee received TNOK 50 as compensation.Compensation to Audit committee and remuneration committee was TNOK 120 and TNOK 35 respectively.In 2024 a new agreement was entered, replacing the prior agreement between the company and the CEO, related to the share program. The CEO 100 % owned company, K2 Consulting AS, purchased the shares from Medistim ASA with a lock in period of 1 year for the 7 500 shares and a lock in period of 2 years for the 8 000 shares. The lock in period of 1 year qualified for a 14 % share price discount and the 2 year lock in period qualified for an 18 % discount. Average share price in the subscription period was NOK 216 per share. 7 500 shares were therefore purchased at NOK 185.83 per share and 8 000 shares were purchased at NOK 177.19 per share. To finance the purchase, Medistim gave CEO a loan and when the lock in period has ended, she is given a bonus equal to the loan amount. Future grants in the CEO share program is on the same terms. Under the same program another 8 000 shares was purchased at a 25 % discount in 2024 and a 3 year lock in period. Average share price in the subscription period was NOK 193 per share and the shares was therefore purchased at NOK 144.56 per share. Even though the changes formally are established through cancelling the old agreements and establishing new agreements with the CEO this is recognised as a change in an existing plan. The change in value of the incentive program was minor when transitioning from the old agreement to the new one, therefore the annual expense is based on the original recognition.Share program CEO 2024 2025 2026 2027Shares granted 9 000 7 500 8 000 8 000 Ending balance - 7 500 15 500 23 500 Share price at the time of grant in NOK - 296 219 204 Total expense in NOK - 2 220 000 1 752 000 1 632 000 Expense per grant per year in NOK - 740 000 584 000 544 000 Annual expense in NOK for the grant in 2024 1 868 000Transactions with related partiesThere were no other transactions than the above described share program for management towards related parties in 2023 or in 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__90": {
"value": "NOTE 21 RELATED PARTY TRANSACTIONSCompensation to managementThe management group consists of 12 people including CEO. Compensation and benefits to the management group in 2024:COMPENSATION AND BENEFITS TO THE MANAGEMENT GROUP IN 2024Share based Management Position Salary Bonus Pensioncompensation Other TotalH\u00e6ge Johanne Krogh Wetterhus VP Marketing 1 532 492 178 476 116 173 - 15 532 1 842 673 Anne Waaler VP Medical 1 538 604 208 963 93 499 - 31 496 1 872 561 Roger Reino Morberg VP Sales APAC 1 926 097 - 109 719 - 40 706 2 076 523 Erik Swensen VP Development 1 552 545 110 012 105 952 - 4 480 1 772 989 Tone Ann Veiteberg VP QA\\Reg 1 345 238 190 847 85 507 - 4 480 1 626 072 Stephanie d\u2019Avout Stenhagen VP Sales EMEA 1 432 563 140 106 104 438 - 32 724 1 709 831 Helge B\u00f8rslid VP Operations 1 444 589 152 558 99 469 - 6 322 1 702 938 Mike Farbelow VP Sales AMERICAS 2 738 850 508 528 109 554 - - 3 356 933 H\u00e5kon Gr\u00f8the VP Innovation 1 446 643 205 373 99 878 - 22 679 1 774 572 Ole Arne Eiksund CBDO 1 521 907 206 310 97 842 - 24 128 1 850 187 Kari Eian Krogstad CEO Medistim ASA 3 341 915 - 111 031 1 926 000 16 146 5 395 092 Thomas Jakobsen CFO Medistim ASA 2 142 690 - 106 970 - 8 164 2 257 824 Total compensation and benefits 21 964 132 1 901 173 1 240 032 1 926 000 206 857 27 238 194There is no severance pay agreements towards any in the management team in case of leaving the company. All members of the management group have a two-way arrangement of 3 months\u2019 notice. The exception is management in the US that has no notice period. The management group has the same pension plan as other employees. For Norwegian members of the management group, this is a contribution plan that covers 5 % of salary up to 7.1 G and 8 % of salary for G between 7.1 and 12. 1G equals NOK 124 028. Management in the US has a contribution plan that covers 4 % of salary. Share based paymentsThe group has a share-based payment scheme for its CEO. The program is settled in shares. The fair value of the option at the grant date, is expensed over the vesting period. The expense is included in \u201csalary and social expenses\u201d in the income statement and a corresponding amount is recognized as other paid-in capital.The board decides incentives to CEO. Bonus and incentives to the management group is decided by the CEO. Bonus and incentives for both management group and CEO is based on achieved results. The table shows the bonus paid in 2024. Some members of the management group have loan from the company at tax free interest rate related to the share program offered to the Management team in 2023. Compensation to the board was TNOK 2 240 in 2024 and TNOK 1 800 in 2023. The chairman received TNOK 500 as compensation in 2024 and TNOK 475 in 2023 The board members received a total TNOK 290 each as compensation in 2024, a total of TNOK 1 740. In 2023 they received TNOK 265 each, a total of TNOK 1 325. Board member, Jon Hoem, received TNOK 92 related to support in strategy evaluations.The nomination committee leader received a compensation of TNOK 20, while the two other members received TNOK 15 each. In total, the nomination committee received TNOK 50 as compensation.Compensation to Audit committee and remuneration committee was TNOK 120 and TNOK 35 respectively.In 2024 a new agreement was entered, replacing the prior agreement between the company and the CEO, related to the share program. The CEO 100 % owned company, K2 Consulting AS, purchased the shares from Medistim ASA with a lock in period of 1 year for the 7 500 shares and a lock in period of 2 years for the 8 000 shares. The lock in period of 1 year qualified for a 14 % share price discount and the 2 year lock in period qualified for an 18 % discount. Average share price in the subscription period was NOK 216 per share. 7 500 shares were therefore purchased at NOK 185.83 per share and 8 000 shares were purchased at NOK 177.19 per share. To finance the purchase, Medistim gave CEO a loan and when the lock in period has ended, she is given a bonus equal to the loan amount. Future grants in the CEO share program is on the same terms. Under the same program another 8 000 shares was purchased at a 25 % discount in 2024 and a 3 year lock in period. Average share price in the subscription period was NOK 193 per share and the shares was therefore purchased at NOK 144.56 per share. Even though the changes formally are established through cancelling the old agreements and establishing new agreements with the CEO this is recognised as a change in an existing plan. The change in value of the incentive program was minor when transitioning from the old agreement to the new one, therefore the annual expense is based on the original recognition.Share program CEO 2024 2025 2026 2027Shares granted 9 000 7 500 8 000 8 000 Ending balance - 7 500 15 500 23 500 Share price at the time of grant in NOK - 296 219 204 Total expense in NOK - 2 220 000 1 752 000 1 632 000 Expense per grant per year in NOK - 740 000 584 000 544 000 Annual expense in NOK for the grant in 2024 1 868 000Transactions with related partiesThere were no other transactions than the above described share program for management towards related parties in 2023 or in 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__94-1": {
"value": "Share based paymentsThe group has a share-based payment scheme for its CEO. The program is settled in shares. The fair value of the option at the grant date, is expensed over the vesting period. The expense is included in \u201csalary and social expenses\u201d in the income statement and a corresponding amount is recognized as other paid-in capital.In 2024 a new agreement was entered, replacing the prior agreement between the company and the CEO, related to the share program. The CEO 100 % owned company, K2 Consulting AS, purchased the shares from Medistim ASA with a lock in period of 1 year for the 7 500 shares and a lock in period of 2 years for the 8 000 shares. The lock in period of 1 year qualified for a 14 % share price discount and the 2 year lock in period qualified for an 18 % discount. Average share price in the subscription period was NOK 216 per share. 7 500 shares were therefore purchased at NOK 185.83 per share and 8 000 shares were purchased at NOK 177.19 per share. To finance the purchase, Medistim gave CEO a loan and when the lock in period has ended, she is given a bonus equal to the loan amount. Future grants in the CEO share program is on the same terms. Under the same program another 8 000 shares was purchased at a 25 % discount in 2024 and a 3 year lock in period. Average share price in the subscription period was NOK 193 per share and the shares was therefore purchased at NOK 144.56 per share. Even though the changes formally are established through cancelling the old agreements and establishing new agreements with the CEO this is recognised as a change in an existing plan. The change in value of the incentive program was minor when transitioning from the old agreement to the new one, therefore the annual expense is based on the original recognition.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__93": {
"value": "Transactions with related partiesThere were no other transactions than the above described share program for management towards related parties in 2023 or in 2024.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__97": {
"value": "NOTE 22 PROVISIONS Provisions (amount in NOK 1 000) 2024 2023Warranty provision 500 350Total provision 500 350The group provides warranties for general repairs of defects that existed at the time of sale, as required by law. Provisions related to these assurance-type warranties are recognized when the product is sold or the service is provided to the customer. Initial recognition is based on historical experience. The initial estimate of warranty-related costs is revised annually.The warranty provision is based upon the company\u2019s experience with sales and return of its own products. The estimate is based upon this experience to cover future obligations. The company has introduced extended warranty where customers for a fee extend the warranty period. The level of warranty contracts is in 2024 limited and there has been no expenses related to extended warranty contracts in 2024. In 2024, there are no additional provision related to the contracts. This will be monitored an if the level of extended warranty increases a method for estimating a provision is established.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfTypesOfWarrantiesAndRelatedObligations",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__96": {
"value": "NOTE 22 PROVISIONS Provisions (amount in NOK 1 000) 2024 2023Warranty provision 500 350Total provision 500 350The group provides warranties for general repairs of defects that existed at the time of sale, as required by law. Provisions related to these assurance-type warranties are recognized when the product is sold or the service is provided to the customer. Initial recognition is based on historical experience. The initial estimate of warranty-related costs is revised annually.The warranty provision is based upon the company\u2019s experience with sales and return of its own products. The estimate is based upon this experience to cover future obligations. The company has introduced extended warranty where customers for a fee extend the warranty period. The level of warranty contracts is in 2024 limited and there has been no expenses related to extended warranty contracts in 2024. In 2024, there are no additional provision related to the contracts. This will be monitored an if the level of extended warranty increases a method for estimating a provision is established.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__98": {
"value": "The group provides warranties for general repairs of defects that existed at the time of sale, as required by law. Provisions related to these assurance-type warranties are recognized when the product is sold or the service is provided to the customer. Initial recognition is based on historical experience. The initial estimate of warranty-related costs is revised annually.The warranty provision is based upon the company\u2019s experience with sales and return of its own products. The estimate is based upon this experience to cover future obligations. The company has introduced extended warranty where customers for a fee extend the warranty period. The level of warranty contracts is in 2024 limited and there has been no expenses related to extended warranty contracts in 2024. In 2024, there are no additional provision related to the contracts. This will be monitored an if the level of extended warranty increases a method for estimating a provision is established.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__99": {
"value": "NOTE 23 EXCHANGE RATES FOREIGN CURRENCYExchange rates foreign currency Rate 01.01.2024 Average rate Rate 31.12.2024CurrencyUSD 10.1724 10.7454 11.3534DKK 150.82 155.85 156.62EUR 11.2405 11.6249 11.7950GBP 12.9342 13.7343 14.2249Transactions in foreign currency Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the transaction. Financial instruments in foreign currency are translated to Norwegian kroner at the closing rate of the balance day. Non-financial items measured at historic cost are translated to Norwegian kroner using the exchange rate at the time of the transaction. Foreign subsidiariesAssets, liabilities and goodwill in foreign subsidiaries that are consolidated are translated to Norwegian kroner at the date of the balance sheet. Revenue and expenses are translated to Norwegian kroner using the rate at the transaction date.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__101": {
"value": "Transactions in foreign currency Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the transaction. Financial instruments in foreign currency are translated to Norwegian kroner at the closing rate of the balance day. Non-financial items measured at historic cost are translated to Norwegian kroner using the exchange rate at the time of the transaction.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__103": {
"value": "NOTE 24 CHANGES IN LIABILITIES ARISING FROM FINANCIAL ACTIVITIESChanges in liabilities arising from financial activities 2024 (amount in NOK 1 000)DeferredNon-current Current lease revenue lease agreementsagreements Total 2024At 1st of January 2024 4 233 12 213 5 431 21 877New lease agreements - 9 304 16 204 25 508Cash flows lease agreements - -8 791 - -8 791Net change in current balance - 9 523 -9 304 219Effects of foreign exchange -215 - -215Deferred revenue 1 697 - - 1 697 31. December 2024 5 931 22 034 12 331 40 295Changes in liabilities arising from financial activities 2023 (amount in NOK 1 000)DeferredCurrent Non-current lease revenue lease agreements agreements Total 2023At 1st of January 2023 5 126 7 086 10 020 22 232New lease agreements - 4 250 4 670 8 920Cash flows lease agreements - -8 688 - -8 688 Net change in current balance - 9 565 -9 259 306Deferred revenue -893 - - -89331. December 2023 4 233 12 213 5 431 21 877",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__102": {
"value": "NOTE 24 CHANGES IN LIABILITIES ARISING FROM FINANCIAL ACTIVITIESChanges in liabilities arising from financial activities 2024 (amount in NOK 1 000)DeferredNon-current Current lease revenue lease agreementsagreements Total 2024At 1st of January 2024 4 233 12 213 5 431 21 877New lease agreements - 9 304 16 204 25 508Cash flows lease agreements - -8 791 - -8 791Net change in current balance - 9 523 -9 304 219Effects of foreign exchange -215 - -215Deferred revenue 1 697 - - 1 697 31. December 2024 5 931 22 034 12 331 40 295Changes in liabilities arising from financial activities 2023 (amount in NOK 1 000)DeferredCurrent Non-current lease revenue lease agreements agreements Total 2023At 1st of January 2023 5 126 7 086 10 020 22 232New lease agreements - 4 250 4 670 8 920Cash flows lease agreements - -8 688 - -8 688 Net change in current balance - 9 565 -9 259 306Deferred revenue -893 - - -89331. December 2023 4 233 12 213 5 431 21 877",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReconciliationOfLiabilitiesArisingFromFinancingActivitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__104": {
"value": "NOTE 25 EVENTS AFTER 2024Information after the reporting period that provide evidence of conditions that existed at the end of the reporting (\u201dadjusting events\u201d), are reflected in the amounts recognized in the financial statement. Information after the reporting period that are indicative of conditions that arose after the reporting period (\u201cnon-adjusting events\u201d) are not reflected in the amounts recognized in the financial statement but are disclosed if material.The Board of Directors has no knowledge about other events after 2024 that will affect the annual report and financial statement for 2024. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
}
}
}