Notes and other explanatory information [abstract]

Schedule of loans and borrowings
	As of December 31,
(SEK in thousands)	2025		2024
Borrowings measured at amortized cost
Liabilities to credit institutions		16,240		-

Classified as:
Long-term		12,180		-
Short-term		4,060		-
		16,240		-

Schedule of fair values of financial assets and financial liabilities


		As of December 31,
(SEK in thousands)	Level	2025		2024
Financial liabilities
Embedded derivative (convertible debentures)	3		4,603		-
Derivative instruments (warrants)	3		128,381		1,432
Financial liabilities			132,984		1,432

There have been no transfers between levels 1, 2, and 3 during the current or previous year.

(Amounts in thousands)	Derivative instruments
As of 1 January, 2024		45,028
Profit or loss reported:
Net gains on financial assets or liabilities measured at fair value through profit or loss		(51,315	)
Finance costs		7,719
As of December 31, 2024		1,432
Profit or loss reported:
Net losses on financial assets or liabilities measured at fair value through profit or loss		129,262
Finance costs		2,290
As of December 31, 2025		132,984

Schedule of Currency exchange rate sensitivity analysis


	For the year ended December 31,
	2025		2024		2025		2024
(Amounts in thousands)	Impact USD				Impact EUR
Consolidated Statements of Loss and Other Comprehensive Income/(Loss)		38,615		55,618		20,806		1,141

	For the year ended December 31,
	2025		2024		2025		2024
(Amounts in thousands)	Impact NOK				Others
Consolidated Statements of Loss and Other Comprehensive Income/(Loss)		716		1,858		2,221		320

If on balance sheet date all exchange rates were to change by 10% in an unfavorable direction, the effect on equity would be approximately SEK 49,845 thousand (2024: SEK 36,478 thousand).

	As of December 31,
(SEK in thousands)	2025			2024
USD		(48,356	)		(27,306	)
EUR		(679	)		(5,738	)
NOK		(188	)		(2,693	)
Others		(622	)		(741	)
Effect on equity		(49,845	)		(36,478	)

Schedule of credit risk exposure

Schedule of credit risk exposure
	For the year ended December 31,
(SEK in thousands)	2025		2024
Deposits		2,573		12,422
Trade receivables		21,015		21,148
Accrued income		29,516		34,121
Restricted cash		-		32,869
Cash		278,825		74,165
Total		331,929		174,725

Schedule of financial liabilities

Schedule of financial liabilities
	< 1 month		1-3 months		3-12 months		1-2 years		2-5 years		5+ years		Total contractual cash flow		Total carrying value
	TSEK		TSEK		TSEK		TSEK		TSEK		TSEK		TSEK		TSEK
December 31, 2024
Convertible debenture		-		-		-		-		379,795		-		379,795		379,795
Lease liabilities		-		-		76,210		55,079		98,953		411,265		641,507		641,507
Trade payables		376,292		-		-		-		-		-		376,292		376,292
Liabilities associated with cash advances		10,123		48,024		108,069		-		-		-		166,216		166,216
Accrued Expenses		84,684		-		-		-		-		-		84,684		84,684


December 31, 2025
Convertible debenture	-	-	207,716	-	-	-	207,716	207,716
Lease liabilities	6,289	12,578	56,604	105,173	80,400	381,510	642,553	642,553
Trade payables	254,348	2,384	8,969	11,388	-	-	277,089	277,089
Liabilities associated with cash advances	-	89,503	265,339	-	-	-	354,842	354,953
Accrued Expenses	146,786	-	-	-	-	-	146,786	146,786

The convertible debenture may be repaid or converted to shares at the discretion of the holder under certain conditions.

The following table details the group’s liquidity analysis for its derivative financial instruments based on contractual maturities. The table has been drawn up based on the undiscounted net cash inflows and outflows on derivative instruments that settle on a net basis, and the undiscounted gross inflows and outflows on those derivatives that require gross settlement. When the amount payable or receivable is not fixed, the amount disclosed has been determined by reference to the projected interest rates as illustrated by the yield curves existing at the reporting date.

	< 1 month		1-3 months		3-12 months		1-2 years		2-5 years		5+ years
	TSEK		TSEK		TSEK		TSEK		TSEK		TSEK
December 31, 2024
Derivative Instruments (Warrants)		-		-		-				1,432		-
December 31, 2025
Derivative Instruments (Warrants)		-		-		-		128,381		-		-
Embedded derivative (Convertible debt)		-		-		4,603		-		-		-

Capital risk management

The capital structure of the Group consists of shareholders’ equity, debt and cash. The Group monitors capital to maintain an appropriate structure that fulfils its strategic objectives, considers the needs of shareholders, and ensures it maintains sufficient funds to continue as a going concern.

The Group manages its capital to ensure that its entities can continue operations even under adverse conditions and to maximize shareholder returns by optimizing the capital structure.