Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2021-12-31	7021150000	vDKK
ifrs-full:Assets	2020-12-31	4039423000	vDKK

Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2021-01-01	2021-12-31	3631971000	vDKK
ifrs-full:Revenue	2020-01-01	2020-12-31	2838590000	vDKK

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   <mrv:StatementOfCorporateSocialResponsibility contextRef="ctx2" id="fact1084" xml:lang="en">Netcompany’s solutions contribute to increas- inglyeffective ways of running businessenabling a more cohorent, digital society. Netcompany is helping customers implement new technologies to fur- ther digitalise their respective busi- nesses and operations. Although it is difficult to measure the exact differ- ences, these new solutions are signifi- cantly more efficient in relation to energy consumption than old legacy systems. As a corporate citizen, Netcompany measures its direct impact on the environment, as outlined here. In 2022, Netcompany will continue to take strides in lowering its environmental footprint through developing state-of- the art solutions, supporting responsi- ble initiatives and improving business operations across the Group. Furthermore, Netcompany’s solutions contribute to increasingly effective ways of running businesses and public institutions, enabling a more coherent, digital society to the benefit of citi- zens globally. Netcompany continues to have a strong focus on its employees’ devel- opment and wellbeing. In 2021, Netcompany continued to ensure formal training through Netcompany Academy, as well as organise social activities to the extent possible in rela- tion to COVID-19 restrictions. A diverse and inclusive workplace is imperative for Netcompany to attract and retain employees and maintain competitiveness in the market. Securing employee diversity, including increasing representation of underrep- resented groups, is a key focus area and will continue to be in the years to come. Netcompany proudly reports that in 2021, all three targets regard- ing gender distribution were reached. The Netcompany Group ESG report 2021 constitutes our annual Communication on Progress to the UN Global Compact and report on corpo- rate responsibility in accordance with section 99a, 99b, 99d and 107d of the Danish Financial Statements Act. The report is an integrated part of the management’s review of the Netcompany Group Annual Report 2021. Please refer to: https://www.netcompany.com/ int/ESG</mrv:StatementOfCorporateSocialResponsibility>
   <mrv:CorporateGovernanceReport contextRef="ctx2" id="fact1144" xml:lang="en">Corporate governance An evaluation of the Board of Directors and Group Executive Management conducted with assistance from an independent third-party showed a satisfactory outcome Governance model Netcompany has a two-tier manage- ment structure, which is comprised of the Board of Directors and the Executive Management. The Board of Directors, which is appointed by the shareholders, supervises the work of the Executive Management and is responsible for the overall and strate- gic management and proper organisa- tion of the Group’s activities, while the Executive Management is responsible for the Group’s day-to-day manage- ment. The division of responsibility between the Board of Directors and the Executive Management is set out in the Rules of Procedures for the Board of Directors and Executive Management Instructions. Shareholders and general meetings Netcompany’s shareholders exercise their rights at the general meeting. The general meeting adopts decisions, such as the election of Board members and the auditor, in accord- ance with applicable law. Board of Directors and Executive Management For the time being, the Board of Directors of Netcompany Group A/S currently consists of five members. According to the Articles of Association, the Board of Directors must consist of at least three and not more than seven members elected at the general meeting. The Board of Directors appoints a Chairman and a Deputy Chairman among its members. Each member is elected for a one-year term, and members may be re-elected. The Board of Directors meets at least five times a year and holds extraordi- nary meetings when relevant. The composition of the Board of Directors is intended to ensure that the Board of Directors has a diverse competency profile enabling the Board of Directors to perform its duties in the best possible manner. All five members of the Board of Directors are considered independent under the “Recommendations on Corporate Governance”. During 2021, the Board of Directors conducted an evaluation of the Board of Directors and the individual mem- bers with external assistance from an independent third-party. The evalua- tion included among others effective- ness, performance, and composition of the Board of Directors, including an evaluation of the performance of the individual members of the Board of Directors as well as the collaboration with the Executive Management. As part of the evaluation a questionnaire was sent to the members of the Board of Directors, Executive Management and Board secretary. Based on the answers, individual interviews were conducted with the independent third-party and a report was made and shared with the entire Board and Executive Management. The evalua- tion rated the Board’s performance as very satisfactory and compares favourably to the global benchmark. The collaboration in the Board is good, material is of high quality and the Board has the right competencies. Further, the collaboration with the Executive Management is very good. A description of the individual board members, including their other execu- tive positions and independence, can be found on page 60-61. Board Committees In order to support the Board of Directors in Netcompany Group A/S, Netcompany has established three board committees: Audit Committee, Remuneration Committee and Nomination Committee. The committees perform preparatory tasks and make recommendations to the Board of Directors, who in turn will take the final decision on subjects at hand. The main tasks and duties for each committee are set out in sepa- rate committee charters. The charters are reviewed, and if deemed appropri- ate updated, and approved by the Board of Directors annually. The mem- bers of the board committees, includ- ing the committee chairman, are appointed by the Board of Directors among its own members. Audit Committee The Audit Committee consists of three members of the Board of Directors, Netcompany fully complies with40 out of 40recommendationsaccording to the DanishCommittee on Corporate Governance. Åsa Riisberg (Chairman), Scanes Bentley and Juha Christensen and its purpose is to assist the Board of Directors with the oversight of among others, the financial and statutory audit matters, ESG reporting and internal control and risk management systems of the Netcompany Group. Further, the Audit Committee super- vises the external auditor’s independ- ence and the procedure for election of an external auditor. The Audit Committee meets at least four times a year. Remuneration Committee The Remuneration Committee con- sists of two members of the Board of Directors, Juha Christensen (Chairman) and Bo Rygaard and its purpose is to assist the Board of Directors by preparing and presenting proposals and recommendations on matters related to the remuneration of the Company’s Board of Directors and Executive Management. The Remuneration Committee meets at least twice a year. Nomination Committee The Nomination Committee consists of two members of the Board of Directors, Juha Christensen (Chairman) and Bo Rygaard. Its pur- pose is to assist the Board of Directors by preparing and presenting decision proposals and recommendations on matters related to the composition of the Company’s Board of Directors and Executive Management, including the nomination of candidates and evalua- tion of the composition of the Board of Directors and Executive Management. The Nomination Committee meets at least twice a year. Executive Management The members of the Executive Management currently consist of André Rogaczewski (CEO), Claus Jørgensen (COO) and Thomas Johansen (CFO). Together, they form the management registered with the Danish Business Authority. The Executive Management is respon- sible for the day-to-day management. The Board of Directors has laid down instructions for the work of the Executive Management, including the division of work between the Board of Directors and Executive Management. The Board regularly discuss the per- formance of the Executive Management and the Chairman of the Board of Directors has regular meet- ings with Executive Management, where the cooperation between the Board of Directors and the Executive Management is discussed. Recommendations on Corporate Governance As a listed company, Netcompany observes the Recommendations on Corporate Governance, which are based on the comply-or-explain principle, which makes it legitimate for a com- pany to explain why it does not comply with them. Netcompany fully complies with 40 out of the 40 recommendations according to the Danish Committee on Corporate Governance and prepared a statement on corporate governance for the financial year. This statement forms part of the Management’s Review and can be viewed at: https://www.netcompany.com/ int/Investor-Relations/ Governance Whistleblower In 2017, Netcompany implemented a whistleblower system, where the purpose is to provide a possibility to report serious offences or suspected serious offences with full anonymity that may impact Netcompany Group as a whole or the life or health of an individual. The whistleblower policies were updated in 2021 in order to com- ply with the updated regulation. The whistleblower system allows per- sons related to Netcompany, such as employees, members of the Executive Management and Board of Directors, auditors, lawyers, suppliers and other business partners of Netcompany, to report serious offences or suspected serious offences. The whistleblower system is an inde- pendent and autonomous channel and the independency is secured by using an external law firm (Plesner) to receive reports submitted. The law firm will forward any reports to the Chairman of the Board, who will inves- tigate the matter promptly and take appropriate action. In 2021, two reports were submitted via the whistleblower system. The reports were assessed to be out of scope by the external law firm. Whistleblower cases are taken very seriously, and we have enhanced the awareness of good conduct and that incidents can be reported through the whistleblower portal. Data ethics policy Last year, Netcompany implemented a Data Ethics Policy, which we also chose to report on even before we were required to do so. This policy is based on three key principles: secu- rity, integrity and trust. Working as an IT service provider we encounter many types of data, includ- ing personal data. In our own organi- sation we mainly process data about our employees and job applicants, provided by the employees and job applicants themselves. In our capacity as a supplier, we process data on behalf of our customers, for example in connection with the maintenance or hosting of their systems. The data we process about our employees and job applicants includes regular personal data, such as, names, addresses and phone numbers, whereas special categories of per- sonal data, may also be included e.g., relating to health information. The data we process on behalf of our cus- tomers relates to their production data, which in some cases may also include both regular and special cate- gories of personal data. Technical and organisational security is an essential part of any safe data processing. Netcompany’s daily oper- ations are based on a highly detailed security policy and organisational pro- cedures, all of which comply with the international security standard ISO/ IEC 27001. We process all data with the utmost respect for the sensitivity of the data and any privacy rights – to make sure we earn the trust of our customers, employees, shareholders and any other stakeholders. We run internal audit controls to secure compliance with both informa- tion security and data protection requirements, and all our employees are continuously trained in the Netcompany Methodology. In addition to these measures, we have all data securely stored at two different data centres to ensure that data availability is always upheld in the unlikely event of technical failures. We do not buy data from third parties or sell customer data to third parties. We do use artificial intelligence (“AI”) and machine learning in some of our solutions, but never in a context where such services are used for either pro- filing, automated decision making or similar. Machine learning is instead used for the purpose of reducing energy consumption and climate impact. Our work with ensuring diver- sity throughout the organisation is also part of our data ethics considera- tions in that it may help prevent unin- tentional biases in both the develop- ment of our own IT solutions and when advising our customers about the development of theirs. Whether we process personal data or other types of data, we always apply our standards for data ethics to the way we work, making sure that our processing activities and security measures match the requirements for the data we are handling. With this year’s reporting on our Data Ethics Policy, Netcompany Group A/S and Netcompany A/S comply with the requirements under section 99(d) of the Danish Financial Statements Act.</mrv:CorporateGovernanceReport>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx2" id="fact1471" xml:lang="en">Board of Directors and Executive Management statement The Board of Directors and the Exec- utive Management have today consid- ered and approved the Annual Report of Netcompany Group A/S for the financial year 1 January - 31 Decem- ber 2021 for the Group and the Par- ent. The Annual Report is prepared in accordance with International Finan- cial Reporting Standards as adopted by the EU and Danish disclosure requirements for Annual Reports and additional requirements of the Danish Financial Statements Act. In our opinion, the consolidated finan- cial statements and the parent finan- cial statements give a true and fair view of the Group’s and the Parent’s financial position at 31 December 2021 and of the results of their operations and cash flows for the financial year 1 January - 31 December 2021 for the Group and the Parent. In our opinion, the management com- mentary contains a fair review of the development of the Group’s and the Parent’s business and financial mat- ters, the results for the year and of the Parent’s financial position and the financial position as a whole of the entities included in the consolidated financial statements, together with a description of the principal risks and uncertainties that the Group and the Parent face. In our opinion, the Annual Report for Netcompany Group A/S with the file name NetcompanyGroup-2021-12-31. zip for the financial year 1 January - 31 December 2021 for the Group and the Parent is conducted in compliance with the ESEF regulation. We recommend the Annual Report for adoption at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
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   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx53" id="fact2115" xml:lang="en">Bo Rygaard</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx53" id="fact2116" xml:lang="en">Chairman</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx51" id="fact2111" xml:lang="en">Claus Jørgensen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx51" id="fact2112" xml:lang="en">Chief Operating Officer</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx54" id="fact2117" xml:lang="en">Juha Christensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx54" id="fact2118" xml:lang="en">Vice Chairman</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx52" id="fact2113" xml:lang="en">Thomas Johansen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx52" id="fact2114" xml:lang="en">Chief Financial Officer</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx55" id="fact2119" xml:lang="en">Scanes Bentley</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx56" id="fact2120" xml:lang="en">Hege Skryseth</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx57" id="fact2121" xml:lang="en">Åsa Riisberg</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <sob:PlaceOfSignatureOfStatement contextRef="ctx2" id="fact1516" xml:lang="en">Copenhagen</sob:PlaceOfSignatureOfStatement>
   <sob:DateOfApprovalOfAnnualReport contextRef="ctx2" id="fact1517">2022-01-25</sob:DateOfApprovalOfAnnualReport>
   <arr:IndependentAuditorsReportsAudit contextRef="ctx2" id="fact1518" xml:lang="en">Independent auditor’s report To the shareholders of Netcompany Group A/S Report on the audit of the Consoli- dated Financial Statements and Par- ent Company Financial Statements</arr:IndependentAuditorsReportsAudit>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx2" id="fact1524" xml:lang="en">Opinion We have audited the consolidated financial statements and the parent company financial statements of Net- company Group A/S for the financial year 1 January – 31 December 2021, which comprise statement of compre- hensive income, statement of finan- cial position, statement of changes in equity, cash flow statement and notes, including accounting policies, for the Group and the Parent Company. The consolidated financial statements and the parent company financial state- ments are prepared in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act. In our opinion, the consolidated finan- cial statements and the parent com- pany financial statements give a true and fair view of the financial position of the Group and the Parent Com- pany at 31 December 2021 and of the results of the Group's and the Parent Company's operations and cash flows for the financial year 1 January – 31 December 2021 in accordance with International Financial Reporting Stan- dards as adopted by the EU and addi- tional requirements of the Danish Financial Statements Act. Our opinion is consistent with our long-form audit report to the Audit Committee and the Board of Directors.</arr:OpinionOnAuditedFinancialStatements>
   <arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx2" id="fact1560" xml:lang="en">Basis for opinion We conducted our audit in accor- dance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those stan- dards and requirements are further described in the "Auditor's responsi- bilities for the audit of the consolidat- ed financial statements and the par- ent company financial statements" (hereinafter collectively referred to as "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. Independence We are independent of the Group in accordance with the International Eth- ics Standards Board for Accountants' Code of Ethics for Professional Accoun- tants (IESBA Code) and additional requirements applicable in Denmark, and we have fulfilled our other ethi- cal responsibilities in accordance with these rules and requirements. To the best of our knowledge, we have not provided any prohibited non-audit services as described in article 5(1) of Regulation (EU) no. 537/2014. Appointment of auditor We were initially appointed as auditor of Netcompany Group A/S on 9 March 2021 for the financial year 2021.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:KeyAuditMattersAudit contextRef="ctx2" id="fact1595" xml:lang="en">Key audit matters Key audit matters are those mat- ters that, in our professional judge- ment, were of most significance in our audit of the financial statements for the financial year 2021. These mat- ters were addressed during our audit of the financial statements as a whole and in forming our opinion thereon. We do not provide a separate opin- ion on these matters. For each mat- ter below, our description of how our audit addressed the matter is pro- vided in that context. We have fulfilled our responsibilities described in the "Auditor's respon- sibilities for the audit of the financial statements" section, including in rela- tion to the key audit matters below. Accordingly, our audit included the design and performance of proce- dures to respond to our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the financial statements. Revenue recognition, including the measurement and recognition of work in progress The accounting principles and disclo- sures on revenue recognition related to projects are included in note 23 to the consolidated financial statements. At 31 December 2021, the carrying value of the Group’s work in prog- ress amounted to DKK 1,020 mil- lion. Significant judgement is required by Management in determining the stage of completion and expected profit on fixed price projects, includ- ing assessment of specific proj- ect risks and assessment of poten- tial onerous contracts. In addition, the Group’s accounting for arrangements with multiple performance obligations is subject to complexity, as the total contract value is allocated to each Due to the complexity in the judge- ments combined with the significance of revenue and work in progress, we consider revenue recognition, includ- ing the measurement and recognition of work in progress to be a key audit matter. How our audit addressed the key audit matter As part of our audit, we obtained an understanding of the Group’s pro- cesses for assessment of time and cost-to-complete estimates, the pro- cesses for identification and assess- ment of performance obligations and the processes for identification and assessment of project related risks including the risk of projects changing into onerous contracts. We assessed the internal controls relat- ing to monitoring of project develop- ment, time registration, estimation of time and cost-to-complete and identifi- cation and assessment of project risks and potential onerous contracts. We obtained an overview of the Group’s projects in progress at 31 December 2021. On basis of risk and materiality we selected a sample of projects. For the selected sample, we tested Management’s assumptions for assessment of stage of comple- tion, estimates of expected time and cost-to-complete and expected prof- its. To assess the accuracy of Manage- ment’s assumptions and estimates we performed look-back analysis by com- paring the actual profit of completed projects with the expected profit from budgets. We analysed the budget devi- ations and discussed with Management the possible risk of similar deviations on projects in progress at 31 Decem- ber 2021. We tested the identification and accounting of arrangements with multiple performance obligations by testing a sample of recognised arrangements to supporting cus- tomer contracts and amendments. We tested the identification, assessment and accounting of project risks, poten- tial onerous contracts, and warranty issues by application of data analysis and examination of supporting docu- mentation. Purchase price allocation (“PPA”) for the acquisition of Intrasoft Interna- tional S.A. in the consolidated finan- cial statements and opening balance On 31 October 2021, Intrasoft Interna- tional S.A. was acquired by the Group for a total consideration of DKK 1.375 million of which DKK 1.144 million was paid in cash, DKK 134 million was paid in shares in Netcompany Group A/S and DKK 97 million was accrued. Management prepared a purchase price allocation for the acquisition with a separate recognition of the fair value of the assets and liabilities in the open- ing balance. For details on the acquisi- tion reference is made to note 16 in the consolidated financial statements. Management has in connection with the PPA used the Group’s valuation meth- odologies, when determining the fair value of the separately identified assets and liabilities in the business combina- tion. The valuation methodologies are based on various separate assumptions. The significant judgements and esti- mates involved in the PPA and opening balance mainly relate to assessing the fair value of the acquired technology and software, trademark, order back- log and customer relationships. Due to the complexity and the signif- icant level of judgement involved in the purchase price allocation includ- ing the assessment of fair value of the acquired assets and liabilities, we consider the fair value assessment of acquired assets and liabilities to be a key audit matter. How our audit addressed the key audit matter As part of our audit, we have assessed whether the Group’s valuation meth- odologies, has been used when deter- mining the fair value of the separately identified assets and liabilities in the business combination. We performed audit procedures to verify the assets and liabilities recog- nized in the opening balance. Among the performed audit procedures, we tested a selected sample of contract work in progress and tested Manage- ment’s assumptions for assessment of stage of completion, estimates of expected time and cost-to-complete and expected profit. We tested the classification between contract work in progress and prebilled invoices. We obtained on sample basis external confirmations of trade receivables and tested Management’s assumptions for</arr:KeyAuditMattersAudit>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx2" id="fact1763" xml:lang="en">we exercise professional judgement and maintain professional scepticism throughout the audit. We also: From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements and the parent company financial state- ments of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation pre- cludes public disclosure about the matter or when, in extremely rare cir- cumstances, we determine that a mat- ter should not be communicated in our report because the adverse con- sequences of doing so would rea- sonably be expected to outweigh the public interest benefits of such com- munication.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
   <arr:AuditorsReportOnXbrlTagging contextRef="ctx2" id="fact1785" xml:lang="en">Report on compliance with the ESEF Regulation As part of our audit of the financial statements of Netcompany Group A/S we performed procedures to express an opinion on whether the annual report for the financial year 1 January – 31 December 2021 with the file name NetcompanyGroup-2021-12-31.zip is prepared, in all material respects, in compliance with the Commission Del- egated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the prepara- tion of the annual report in XHTML format and iXBRL tagging of the Con- solidated Financial Statements. Management is responsible for pre- paring an annual report that complies with the ESEF Regulation. This responsibility includes:</arr:AuditorsReportOnXbrlTagging>
   <cmn:NameOfAuditFirm contextRef="ctx59" id="fact2131" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx58" id="fact2126" xml:lang="en">Mikkel Sthyr</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx58" id="fact2127" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx59" id="fact2128" xml:lang="en">Morten Weinreich Larsen</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx59" id="fact2129" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <arr:SignatureOfAuditorsPlace contextRef="ctx2" id="fact1807" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
   <arr:SignatureOfAuditorsDate contextRef="ctx2" id="fact1808">2022-01-25</arr:SignatureOfAuditorsDate>
</xbrli:xbrl>