Beta. Registrerede ejere og personsøgning kommer snart.
Fremstilling af døre og vinduer af plast
CVR 17 61 07 08AktieselskabHørsholmStiftet 1994
Velux Commercial Danmark A/S is a 100% owned subsidiary of VKR Holding A/S and the main activity is to produce, market and sell smoke and heat exhaust ventilations systems and skylight products.
Oplysningerne er hentet 10. november 2026.
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| Post | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | Ændring2024-2025 |
|---|---|---|---|---|---|---|---|---|
| Resultat | ||||||||
| Results from net financials | 0 | 1,0 mio. | 0 | 0 | 0 | 0 | - | −100,0% |
| Investment in property plant and equipment | 0 | 0 | 1,0 mio. | 5,0 mio. | 0 | 1,0 mio. | - | - |
| 26,5 mio. | 31,2 mio. | 39,6 mio. | 46,8 mio. | 34,0 mio. | 30,4 mio. | 63,7 mio. | −15,0% | |
Omsætningen minus udgifterne til varer, materialer og andre eksterne omkostninger som fx husleje. Lønnen er ikke trukket fra endnu. Små virksomheder må vise bruttofortjenesten i stedet for omsætningen. | ||||||||
| Personaleomkostninger | 15,5 mio. | 21,1 mio. | 30,8 mio. | 36,0 mio. | 33,9 mio. | 33,6 mio. | 31,9 mio. | −26,5% |
| Af- og nedskrivninger af materielle og immaterielle anlægsaktiver | 991.000 | 1,3 mio. | 1,4 mio. | 1,1 mio. | 987.000 | 971.000 | 881.000 | −22,6% |
| Andre driftsomkostninger | 0 | 181.000 | 0 | - | - | - | - | −100,0% |
| 10,0 mio. | 8,7 mio. | 7,4 mio. | 9,7 mio. | -916.000 | -4,2 mio. | 31,0 mio. | +15,8% | |
| Andre finansielle indtægter | 385.000 | 837.000 | 565.000 | 0 | 1.000 | 0 | - | −54,0% |
| Andre finansielle omkostninger | 29.000 | 18.000 | 93.000 | 178.000 | 146.000 | 222.000 | 165.000 | +61,1% |
| 10,4 mio. | 9,5 mio. | 7,9 mio. | 9,5 mio. | -1,1 mio. | -4,4 mio. | 30,9 mio. | +9,6% | |
| Skat af årets resultat | 2,3 mio. | 2,1 mio. | 1,7 mio. | 2,0 mio. | 786.000 | -841.000 | 6,8 mio. | +10,1% |
| 8,1 mio. | 7,4 mio. | 6,2 mio. | 7,5 mio. | -1,8 mio. | -3,6 mio. | 24,0 mio. | +9,4% | |
| Lønninger | 14,1 mio. | 18,7 mio. | 27,6 mio. | 32,6 mio. | 30,8 mio. | - | - | −24,5% |
| Pensioner | 1,2 mio. | 1,7 mio. | 2,3 mio. | 2,4 mio. | 2,3 mio. | - | - | −28,1% |
| Andre omkostninger til social sikring | 164.000 | 694.000 | 843.000 | 936.000 | 860.000 | - | - | −76,4% |
| Renteindtægter fra tilknyttede virksomheder | 348.000 | 773.000 | 560.000 | - | - | - | - | −55,0% |
| Other adjustments of finance income | 37.000 | 64.000 | 5.000 | - | - | - | - | −42,2% |
| Øvrige reguleringer af finansielle omkostninger | 29.000 | 18.000 | 45.000 | 97.000 | 146.000 | - | - | +61,1% |
| Aktuel skat | 2,3 mio. | 1,9 mio. | - | 1,8 mio. | -260.000 | - | - | +21,0% |
| Regulering af udskudt skat | 8.000 | 192.000 | - | 198.000 | 28.000 | - | - | −95,8% |
| Overført til overført resultat | 116.000 | 417.000 | -5,0 mio. | 7,5 mio. | - | - | - | −72,2% |
| Renteomkostninger til tilknyttede virksomheder | - | 0 | 48.000 | 81.000 | 0 | - | - | - |
| Andre personaleomkostninger | - | - | - | 227.000 | 0 | - | - | - |
| Regulering af skat vedrørende tidligere år | - | - | - | 0 | 1,0 mio. | - | - | - |
| Tax expense on ordinary activities | - | - | - | 2,0 mio. | 786.000 | - | - | - |
| Balance | ||||||||
| Acquired intangible assets | 36.000 | 189.000 | 508.000 | 368.000 | 686.000 | 623.000 | 6.000 | −81,0% |
| Immaterielle anlægsaktiver | 36.000 | 189.000 | 508.000 | 368.000 | 686.000 | 623.000 | 6.000 | −81,0% |
| Produktionsanlæg og maskiner | 4,6 mio. | 5,2 mio. | 6,2 mio. | 6,1 mio. | 1,2 mio. | 1,3 mio. | 1,0 mio. | −11,2% |
| Andre anlæg, driftsmateriel og inventar | 123.000 | 167.000 | 376.000 | 560.000 | 780.000 | 1,0 mio. | 1,7 mio. | −26,3% |
| Materielle anlægsaktiver | 4,8 mio. | 5,4 mio. | 6,5 mio. | 6,6 mio. | 1,9 mio. | 2,3 mio. | 2,7 mio. | −11,7% |
| Deposita | 120.000 | 48.000 | 258.000 | 258.000 | 258.000 | 258.000 | 258.000 | +150,0% |
| Finansielle anlægsaktiver | 120.000 | 48.000 | 258.000 | 258.000 | 258.000 | 258.000 | 258.000 | +150,0% |
| Anlægsaktiver | 4,9 mio. | 5,6 mio. | 7,3 mio. | 7,3 mio. | 2,9 mio. | 3,2 mio. | 3,0 mio. | −12,7% |
| Råvarer og hjælpematerialer | 11,6 mio. | 13,9 mio. | 15,7 mio. | 18,0 mio. | 14,6 mio. | 12,4 mio. | 14,3 mio. | −17,0% |
| Work in progress | 2,0 mio. | 835.000 | 1,4 mio. | 1,9 mio. | 1,5 mio. | 2,3 mio. | 4,0 mio. | +137,1% |
| Fremstillede varer og handelsvarer | 527.000 | 300.000 | 1,2 mio. | 880.000 | 5,5 mio. | 418.000 | 115.000 | +75,7% |
| Varebeholdninger | 14,1 mio. | 15,1 mio. | 18,2 mio. | 20,8 mio. | 21,6 mio. | 15,1 mio. | 18,4 mio. | −6,6% |
| Tilgodehavender fra salg og tjenesteydelser | 22,4 mio. | 24,1 mio. | 18,3 mio. | 11,0 mio. | 11,7 mio. | 6,0 mio. | 7,7 mio. | −7,1% |
| Tilgodehavender hos tilknyttede virksomheder | 25,4 mio. | 30,4 mio. | 15,7 mio. | 23,3 mio. | 151.000 | 3,6 mio. | 118.000 | −16,5% |
| Andre tilgodehavender | 654.000 | 287.000 | 333.000 | 742.000 | 558.000 | 745.000 | 1,2 mio. | +127,9% |
| Periodeafgrænsningsposter | 392.000 | 142.000 | 197.000 | 177.000 | 180.000 | 119.000 | 149.000 | +176,1% |
| Tilgodehavender | 48,9 mio. | 55,0 mio. | 34,5 mio. | 35,3 mio. | 12,8 mio. | 12,4 mio. | 11,2 mio. | −11,1% |
| 63,0 mio. | 70,0 mio. | 52,7 mio. | 59,8 mio. | 46,4 mio. | 46,8 mio. | 62,8 mio. | −10,1% | |
| 67,9 mio. | 75,7 mio. | 60,0 mio. | 67,1 mio. | 49,3 mio. | 50,0 mio. | 65,8 mio. | −10,3% | |
| Virksomhedskapital | 600.000 | 600.000 | 600.000 | 600.000 | 600.000 | 600.000 | 600.000 | 0,0% |
| Overført resultat | 36,3 mio. | 36,1 mio. | 35,7 mio. | 40,7 mio. | 33,2 mio. | 35,1 mio. | 38,7 mio. | +0,3% |
| Foreslået udbytte | 8,0 mio. | 7,0 mio. | 11,2 mio. | 0 | - | - | 14,5 mio. | +14,3% |
| 44,9 mio. | 43,7 mio. | 47,5 mio. | 41,3 mio. | 33,8 mio. | 35,7 mio. | 53,7 mio. | +2,6% | |
| Hensættelse til udskudt skat | 482.000 | 474.000 | 281.000 | 363.000 | 165.000 | 137.000 | 131.000 | +1,7% |
| Hensatte forpligtelser | 482.000 | 474.000 | 1,4 mio. | 363.000 | 165.000 | 137.000 | 131.000 | +1,7% |
| Forudbetalinger fra kunder | 780.000 | 713.000 | 480.000 | 360.000 | 951.000 | - | - | +9,4% |
| Leverandører af varer og tjenesteydelser | 7,7 mio. | 6,0 mio. | 5,6 mio. | 8,6 mio. | 9,8 mio. | 5,0 mio. | 7,8 mio. | +29,1% |
| Gæld til tilknyttede virksomheder | 9,8 mio. | 22,4 mio. | 26.000 | 10,7 mio. | 398.000 | 259.000 | - | −56,3% |
| Skyldigt sambeskatningsbidrag | 2,0 mio. | 28.000 | 549.000 | 1,8 mio. | 0 | - | - | +7.196,4% |
| Anden gæld, kortfristet | 2,2 mio. | 2,4 mio. | 4,5 mio. | 3,9 mio. | - | - | - | −6,4% |
| 22,5 mio. | 31,5 mio. | 11,2 mio. | 25,4 mio. | 15,3 mio. | 11,0 mio. | 10,8 mio. | −28,4% | |
| 22,5 mio. | 31,5 mio. | 11,2 mio. | 25,4 mio. | 15,5 mio. | 14,3 mio. | 12,1 mio. | −28,4% | |
| Passiver i alt | 67,9 mio. | 75,7 mio. | 60,0 mio. | 67,1 mio. | 49,3 mio. | 50,0 mio. | 65,8 mio. | −10,3% |
| Other provisions | - | 0 | 1,1 mio. | 0 | - | - | - | - |
| Likvide beholdninger | - | - | 0 | 3,7 mio. | 12,0 mio. | 19,2 mio. | 33,2 mio. | - |
| Tilgodehavende selskabsskat | - | - | - | 0 | 260.000 | 2,0 mio. | 2,0 mio. | - |
| Other shortterm payables | - | - | - | 3,9 mio. | 4,1 mio. | 5,7 mio. | 3,0 mio. | - |
| Langfristede gældsforpligtelser | - | - | - | - | 0 | 3,2 mio. | 1,1 mio. | - |
| Other longterm payables | - | - | - | - | - | 3,2 mio. | 1,1 mio. | - |
| Andre tal | ||||||||
| Equity ratio | 66,2 | 57,9 | 78,3 | 61,2 | 69,4 | 0,71 | - | - |
| 21 | 35 | 55 | 67 | 62 | 65 | - | −40,0% | |
| Nøgleforhold (beregnet af Tjekker) | ||||||||
| 66,1% | 57,8% | 79,1% | 61,5% | 68,6% | 71,3% | 81,7% | +8,3 pp | |
| 18,3% | 16,3% | 14,0% | 19,9% | -5,3% | -8,0% | - | +2,1 pp | |
Kilde: årsrapporterne hos Erhvervsstyrelsen. Virksomheden oplyser kun bruttofortjeneste, ikke omsætning. Det må mindre virksomheder. Poster uden dansk navn står, som de hedder i indberetningen. Tal, der er fordelt på fx egenkapitalens kolonner, står i selve årsrapporten.
Regnskabsårene 2019-2025
| Post | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Bruttofortjeneste | 63.748.000 | 30.376.000 | 34.013.000 | 46.780.000 | 39.561.000 | 31.205.000 | 26.519.000 |
| Årets resultat | 24.037.000 | -3.586.000 | -1.847.000 | 7.458.000 | 6.208.000 | 7.417.000 | 8.116.000 |
Beløb i kr. som indberettet
Fra årsrapporten for 2025, i virksomhedens egne ord
Reference is made to the accounting policies for the financial ratios.
Velux Commercial Danmark A/S is a 100% owned subsidiary of VKR Holding A/S and the main activity is to produce, market and sell smoke and heat exhaust ventilations systems and skylight products.
The income statement for 2025 shows a profit of DKK 8,116 thousand against a profit of DKK 7,417 thousand last year, and the balance sheet at 31 December 2025 shows equity of DKK 44,857 thousand. The sales volume increased by 6,7% but the margin was stable at the level of last year. The manufacturing and distribution agreement with VELUX A/S supported the increased net result. The Company is still part of the cash pool agreement with VELUX A/S to centralize the financial performance of the Group.In the annual report for 2024, Management expected a profit for 2025 in the level of DKK 7-9 million. Profit for the year is in line with the expected level from the annual report of 2024.
The Company regularly reviews the need to attract, develop and retain employees with an appropriate level of competence.
The Company is willing to take risks in a responsible and calculated manner and hence a careful and risk-based assessment process is applied for strategic and tactical decisions. Compliance with laws and regulations and our corporate social responsibility are important preconditions.
De originale dokumenter hos Erhvervsstyrelsen
Årsrapport 2025
Offentliggjort 11.06.2026
Årsrapport 2024
Offentliggjort 24.06.2025
Årsrapport 2023
Offentliggjort 30.05.2024
Årsrapport 2022
Offentliggjort 12.06.2023
Årsrapport 2021
Offentliggjort 12.07.2022
Årsrapport 2020
Offentliggjort 11.06.2021
Årsrapport 2019
| Omsætning | Ikke oplyst |
|---|---|
| Bruttofortjeneste | 26,5 mio. kr. |
| Driftsresultat | 10,0 mio. kr. |
| Resultat før skat | 10,4 mio. kr. |
| Årets resultat | 8,1 mio. kr. |
Af hver 100 kr., virksomheden ejer, er 66 kr. betalt af ejerne selv og 34 kr. lånt eller skyldt til andre.
| Aktiver i alt | 67,9 mio. kr. |
|---|---|
| Egenkapital | 44,9 mio. kr. |
| Gæld og forpligtelser | 23,0 mio. kr. |
VELUX Commercial Danmark A/S is exposed to credit risks and price risks arising from purchase and sale transactions.
Due to the fact, that most of the customers are based in Denmark and most of the suppliers are from Denmark or European countries where EUR is the currency, a currency risk is limited.
The Company does not have any significant risks regarding individual customers or collaborators beyond what is usual for the industry as well as common customer/supplier relationship.
The Company is continuously working to reduce a possible environmental impact of its operations, just like the skylight products are constantly developed to improve the energetic characteristics, further increase longevity and minimize maintenance costs.
In 2025, the Company has also focused on employee security and related safety issues.
No events materially affecting the Company's financial position have occurred subsequent to the financial year-end.
The Budget 2026 indicates increased net sales and improved margins, resulting in a higher operating result. While the market for new-build commercial construction is showing signs of stagnation, the Company sees growing opportunities within the renovation segment.
This development is driven by increasingly progressive real estate investors, as well as tightening regulatory requirements stemming from EU directives, which are expected to accelerate demand for upgrading and modernizing existing building stock.
A potential risk remains the overall uncertainty in the global economy, driven by the ongoing conflict between Russia and Ukraine, as well as continued instability in the Middle East. Furthermore, the prolonged winter at the beginning of 2026 delayed activity and impacted results early in the year, however, it is expected to be recovered in the financial year.
Management expect a result for 2026 in the level of DKK 7-9 million.
The accounting policies used in the preparation of the financial statements are consistent with those of last year.
Pursuant to section 86 (4) of the Danish Financial Statements Act, the Company presents no cash flow statement. The Company’s cash flows are included in the cash flow statement in the consolidated financial statements of VKR Holding A/S.
No events materially affecting the Company's financial position have occurred subsequent to the financial year-end.
The executive board and board of directors do not receive remuneration specific to their executive roles in the company.
Prepayments comprise prepaid costs regarding rent, insurance premiums and subscriptions.
31 December 2025, the share capital comprises 600 shares of DKK 1,000 each. The share capital has not been changed during the past five years. All shares rank equally.
Contingent liabilities
DKK'00020252024
Guarantees387416
Rental obligations432188
Lease obligations (operating leases)2,8873,830
3,706
4,434
Contractual obligations against affiliated companies
The Company is jointly taxed with other Danish companies in the VKR Group. The Company has unlimited joint and several liabilities with the other jointly Danish taxed companies for company taxes, interest thereon etc. and for Danish tax withheld at source for dividend, interest and royalties within the joint taxation group.
The jointly taxed entities' total known net liability in respect of corporation taxes and withholding taxes payable on dividend, interest and royalties can be found in the parent company annual report. Any subsequent corrections of income subject to joint taxation and withholding taxes, etc., may entail that the entities' liability will increase.
Related party transactions
Transactions between the Company and its related parties are settled on an arm’s length basis. Pursuant to section 98c of the Danish Financial Statements Act, the Company has chosen to disclose transactions not conducted on an arm’s length basis. The Company has not had any of this type of transactions during the year.
Significant influence and information about consolidated financial statements.
VKR Holding A/S ultimately exercise a controlling interest in the Company. The ultimate parent company, VKR Holding A/S, Breeltevej 18, 2970 Hørsholm, prepares the consolidated financial statements for the VKR group in which the Company is included as a subsidiary. The consolidated financials statements can be found at www.vkr-holding.com.
Today, the Board of Directors and the Executive Board have discussed and approved the annual report of VELUX Commercial Danmark A/S for the financial year 1 January - 31 December 2025.
The annual report is prepared in accordance with the Danish Financial Statements Act.
In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025.
Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review.
We recommend that the annual report be approved at the annual general meeting.
We have audited the financial statements of VELUX Commercial Danmark A/S for the financial year 1 January - 31 December 2025, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025 in accordance with the Danish Financial Statements Act.
We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the financial statements" section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Company in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code.
Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.In preparing the financial statements, Management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Management is responsible for the Management's review.Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of the Management's review.
The annual report of VELUX Commercial Danmark A/S for 2025 is presented in accordance with the provisions of the Danish Financial Statements Act applying for medium-sized class C companies.
The Company is included in the consolidated financial statements for VKR Holding A/S, Hørsholm, CVR no. 30 83 04 15.
Reporting currencyThe financial statements are presented in Danish kroner rounded to the nearest thousand. Due to this rounding, the sum of the individual items may differ from the totals.
On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses.Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the most recent financial statements is recognised in the income statement as financial income or financial expenses.
The Company has chosen IAS 18 as interpretation for revenue recognition.Income from the sale of goods, is recognised in revenue when the most significant rewards and risks have been transferred to the buyer and provided the income can be measured reliably and payment is expected to be received.Income from the rendering of services is recognised as revenue as the services are rendered. Accordingly, revenue corresponds to the market value of the services rendered during the year (percentage-of-completion method).Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in revenue.
The items revenue, cost of sales, change in inventories of finished goods and work in progress, other operating income and other external expenses have been aggregated into one item in the income statement called gross profit in accordance with section 32 of the Danish Financial Statements Act.
Cost of goods includes the cost of goods used in generating the year's revenue.
Other external expenses comprise the year's expenses relating to the Company's core activities, including distribution costs and costs relating to sale, advertising, administration, premises, bad debts losses, operating leases, etc.
Employee costs include wages and salaries and pension to the Company's employees, as well as other social security contributions, etc.
Amortisation and depreciation is provided on a straight line basis over the expected useful life.The expected useful lives of the assets are as follows:Acquired intangible assets 3-5 years
Plant and machinery 5-10 yearsOther fixtures and fittings, tools and equipment 3-10 years
Depreciation is based on the residual value of the asset and is reduced by impairment losses, if any. The depreciation period and the residual value are determined at the acquisition date and are reassessed annually. Where the residual value exceeds the carrying amount of the asset, no further depreciation charges are recognised.In the case of changes in the depreciation period or the residual value, the effect on the depreciation charges is recognised prospectively as a change in accounting estimates.
Other operating expenses comprise items of a secondary nature relative to the Company's core activities, including losses on the sale of fixed assets.
Financial income and expenses are recognised in the income statements at the amounts that concern the financial year. Financial items include interest income and expenses, financing costs of finance leases, realised and unrealised gains and losses on securities, debt and transactions in foreign currencies, etc.
Tax for the year includes current tax on the year's expected taxable income and the year's deferred tax adjustments. The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement, whereas the portion that relates to transactions taken to equity is recognised in equity.The Company is jointly taxed with other group entities in the VKR Holding Group. The total Danish income tax charge is allocated between profit/loss-making Danish entities in proportion to their taxable income (full absorption).Jointly taxed entities entitled to a tax refund are reimbursed by VKR Holding A/S as the management company based on the rates applicable to interest allowances, and jointly taxed entities which have paid too little tax pay a surcharge according to the rates applicable to interest surcharges to the management company.
Other intangible assets include other acquired intangible rights, including software licences.Other intangible assets are measured at cost less accumulated amortisation and impairment losses.Gains and losses on sale of intangible assets are recognised in the income statement as "Other operating income" or "Other operating expenses", respectively.
Property, plant and equipmentProperty, plant and equipment are measured at cost less accumulated depreciation and impairment losses.Gains and losses on sale or disposals of property, plant and equipment are recognised in the income statement as other operating income or other operating expenses.
The Company has chosen IAS 17 as interpretation for classification and recognition of leases.Leases that do not transfer substantially all the risks and rewards incident to the ownership to the Company are classified as operating leases. Payments relating to operating leases and any other rent agreements are recognised in the income statement over the term of the lease. The Company's aggregate liabilities relating to operating leases and other rent agreements are disclosed under "Contingent liabilities".
Deposits, investmentsDeposits are measured at cost. Financial assets are written down to the net realisable value, if this is lower thanthe carrying amount.
Deposits are measured at cost. Financial assets are written down to the net realisable value, if this is lower thanthe carrying amount.
The carrying amount of intangible assets, property, plant and equipment and deposits, investments is assessed for impairment on an annual basis.Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount). The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life.Previously recognised impairment losses are reversed when the reason for recognition no longer exists.
Inventories are recognised at cost in accordance with the FIFO method. If the net realisable value is lower than cost, inventories are written down to this lower value. The cost price for goods for resale and raw materials and consumables comprises the purchase price plus delivery costs. The cost price for manufactured goods and work in progress comprises direct and indirect production overheads.Indirect production overheads include the indirect cost of material and labour as well as maintenance and depreciation of production machinery, buildings and equipment and expenses relating to plant administration and management. Borrowing costs are not recognised in the cost price.
The Company has chosen IAS 39 as interpretation for impairment of financial receivables.Receivables are measured at amortised cost.An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis.Impairment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flows.
Cash comprise cash at bank.Given the nature of the VKR Group's cash pool arrangement, cash pool balances are not considered cash, but are recognised under "Receivables from affiliated companies".
Proposed dividendsDividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity".
Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity".
Current joint taxaxation contribution payables and receivables are recognised in the balance sheet as the estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account.Deferred tax is measured by the balance sheet liability method of all temporary differences between the accounting and taxable value of assets and liabilities.
Deferred tax assets, including the tax value of tax loss carryforwards, are recognised at the expected value of their utilisation. That will be either by elimination in tax on future earnings or against deferred tax liabilities within the same legal tax entity.
Deferred tax is measured on the basis of tax rules and at rates in the respective countries at the balance sheet date when the deferred tax is expected to become current tax. Changes in deferred tax due to changes in tax rates are recognised in the income statement except for items recognised directly in equity.
The Company has chosen IAS 39 as interpretation for liabilities.Financial liabilities are recognised at the date of borrowing at the net proceeds received less transaction costs paid. On subsequent recognition, financial liabilities are measured at amortised cost, corresponding to the capitalised value, using the effective interest rate.Other liabilities are measured at net realisable value.
The financial ratios stated under "Financial highlights" have been calculated as follows:Operating profit/loss
Profit/loss before net financials +/-
Other operating income and other operating expensesEquity ratio
Equity, year-end x 100Total equity and liabilities, year-end
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Offentliggjort 25.06.2020
Årsrapport 2018
Offentliggjort 07.06.2019
Årsrapport 2017
Offentliggjort 18.05.2018
Årsrapport 2016
Offentliggjort 14.07.2017
Årsrapport 2015
Offentliggjort 29.04.2016
Årsrapport 2014
Offentliggjort 03.06.2015
Årsrapport 2013
Offentliggjort 15.04.2014
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Offentliggjort 22.04.2013
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Offentliggjort 22.03.2012
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Offentliggjort 04.06.2011
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Offentliggjort 19.05.2010
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Offentliggjort 17.03.2009
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Offentliggjort 24.03.2008
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Offentliggjort 27.03.2007
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Offentliggjort 24.04.2006
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Offentliggjort 27.04.2005
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Offentliggjort 04.06.2004
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Offentliggjort 19.06.2003
Årsrapport 2001
Offentliggjort 01.07.2002
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Offentliggjort 04.07.2001
Årsrapport 1999
Offentliggjort 04.05.2000
Årsrapport 1998
Offentliggjort 27.04.1999
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Offentliggjort 21.04.1998
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Offentliggjort 30.07.1997
Årsrapport 1995
Offentliggjort 28.08.1996