| Summary of Tax on Profit/Loss and Deferred Tax |
Income taxes are recognized in the unaudited condensed consolidated interim statements of profit or loss with the following amounts:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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(EUR’000) |
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2026 |
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2025 |
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2026 |
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2025 |
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Tax on profit/(loss) for the period |
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Current tax (expense)/income |
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(2,296 |
) |
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(1,986 |
) |
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(3,583 |
) |
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(2,580 |
) |
Current tax, adjustments to prior periods |
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(9,202 |
) |
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— |
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(9,423 |
) |
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|
9 |
|
Deferred tax, movement for the period |
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(36,247 |
) |
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(1,862 |
) |
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(36,810 |
) |
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(2,338 |
) |
Deferred tax, recognition of previously unrecognized deferred tax assets |
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— |
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— |
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679,587 |
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— |
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Deferred tax, adjustments to prior periods |
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24,622 |
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— |
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24,622 |
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— |
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Total tax on profit/(loss) for the period |
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(23,123 |
) |
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(3,848 |
) |
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654,393 |
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(4,909 |
) |
The development in deferred tax assets/(liabilities) was as follows:
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(EUR’000) |
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2026 |
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Development in deferred tax assets/(liabilities) |
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January 1 |
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(9,623 |
) |
Deferred income tax (expense)/income, through profit or loss |
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667,399 |
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Deferred income tax (expense)/income, through equity |
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40,632 |
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Foreign exchange translation |
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|
868 |
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June 30 |
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|
699,276 |
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Classified in the statement of financial position |
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Deferred tax assets |
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699,276 |
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Deferred tax liabilities |
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— |
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Total deferred tax assets/(liabilities) at June 30 |
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699,276 |
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Specification of deferred tax assets/(liabilities) as of June 30, 2026 compared to December 31, 2025 was as follows:
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(EUR’000) |
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June 30, 2026 |
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December 31, 2025 |
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Deferred tax assets/(liabilities) |
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Tax deductible losses |
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444,336 |
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430,011 |
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Other temporary differences, assets |
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254,940 |
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291,759 |
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Deferred tax assets, not recognized |
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— |
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(721,631 |
) |
Other temporary differences, liabilities |
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— |
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(9,762 |
) |
Total deferred tax assets/(liabilities) |
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699,276 |
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(9,623 |
) |
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