| Summary of Tax on Profit/Loss and Deferred Tax |
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|
|
|
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|
(EUR’000) |
|
2025 |
|
|
2024 |
|
|
2023 |
|
Tax on profit/(loss) for the year |
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|
|
|
|
|
|
|
|
Current tax (expense)/income |
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|
(12,556 |
) |
|
|
(3,289 |
) |
|
|
(5,377 |
) |
Current tax, adjustments to prior years |
|
|
513 |
|
|
|
(126 |
) |
|
|
3,904 |
|
Deferred tax, movement for the year |
|
|
(3,410 |
) |
|
|
(2,035 |
) |
|
|
(1,044 |
) |
Deferred tax, adjustments to prior years |
|
|
70 |
|
|
|
607 |
|
|
|
(4,786 |
) |
|
|
|
(15,383 |
) |
|
|
(4,843 |
) |
|
|
(7,303 |
) |
Tax for the year can be explained as follows |
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|
Profit/(loss) before tax |
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|
(212,651 |
) |
|
|
(373,241 |
) |
|
|
(474,144 |
) |
Tax at the Danish corporation tax rate of 22% |
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|
46,783 |
|
|
|
82,113 |
|
|
|
104,312 |
|
Tax effect of: |
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|
|
|
|
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|
|
|
Non-deductible costs |
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|
29,358 |
|
|
|
(9,740 |
) |
|
|
(8,494 |
) |
Additional tax deductions |
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|
37,715 |
|
|
|
3,161 |
|
|
|
9,077 |
|
Impact from associates |
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|
3,588 |
|
|
|
(4,413 |
) |
|
|
(4,047 |
) |
Prior year adjustments |
|
|
583 |
|
|
|
481 |
|
|
|
(1,294 |
) |
Other effects including effect of different tax rates |
|
|
(2,121 |
) |
|
|
182 |
|
|
|
(882 |
) |
Deferred tax assets, not recognized |
|
|
(131,289 |
) |
|
|
(76,627 |
) |
|
|
(105,975 |
) |
Tax on profit/(loss) for the year |
|
|
(15,383 |
) |
|
|
(4,843 |
) |
|
|
(7,303 |
) |
Effective tax rate |
|
|
7.23 |
% |
|
|
1.30 |
% |
|
|
1.54 |
% |
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|
|
|
|
|
|
|
|
|
Development in deferred tax assets/(liabilities) |
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|
|
|
|
|
|
|
|
January 1, |
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|
(7,258 |
) |
|
|
(5,830 |
) |
|
|
— |
|
Deferred income tax (expense)/income, through profit or loss |
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|
(3,340 |
) |
|
|
(1,428 |
) |
|
|
(5,830 |
) |
Foreign exchange translation |
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|
975 |
|
|
|
— |
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|
|
— |
|
December 31, |
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|
(9,623 |
) |
|
|
(7,258 |
) |
|
|
(5,830 |
) |
|
|
|
|
|
|
|
|
|
|
Specification of deferred tax assets/(liabilities) |
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|
|
|
|
|
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Tax deductible losses |
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|
430,011 |
|
|
|
434,997 |
|
|
|
521,697 |
|
Other temporary differences, assets |
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|
291,759 |
|
|
|
164,479 |
|
|
|
16,256 |
|
Deferred tax assets, not recognized |
|
|
(721,631 |
) |
|
|
(599,476 |
) |
|
|
(537,953 |
) |
Other temporary differences, liabilities |
|
|
(9,762 |
) |
|
|
(7,258 |
) |
|
|
(5,830 |
) |
Total deferred tax assets/(liabilities) at December 31 |
|
|
(9,623 |
) |
|
|
(7,258 |
) |
|
|
(5,830 |
) |
|