Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2024-12-31 | 79363000 | vUSD |
| ifrs-full:Assets | 2023-12-31 | 102739000 | vUSD |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2024-01-01 | 2024-12-31 | 52502000 | vUSD |
| ifrs-full:Revenue | 2023-01-01 | 2023-12-31 | 76332000 | vUSD |
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<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx26" id="fact1005" xml:lang="en">MANAGEMENT STATEMENT  The Board of Directors and Executive Board have today considered and adopted the Annual Report of Asetek  A/S for the financial year 1 January â 31 December 2024.  The Consolidated Financial Statements and the Parent Company Financial Statements have been pre-  pared in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the  Danish Financial Statements Act. Managementâs Review has been prepared in accordance with the Danish  Financial Statements Act.  In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give  a true and fair view of the financial position at 31 December 2024 of the Group and the Parent Company and  of the results of the Group and Parent Company operations and cash flows for 2024.  In our opinion, Managementâs Review includes a fair review of the development in the operations and  financial circumstances of the Group and the Parent Company, of the results for the year and of the financial  position of the Group and the Parent Company as well as a description of the most significant risks and ele-  ments of uncertainty, which the Group and the Parent Company are facing.  In our opinion, the annual report of Asetek A/S for the financial year 1 January to 31 December 2024 with  the file name Asetek-2024-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF  Regulation.  We recommend that the Annual Report be adopted at the Annual General Meeting.  </sob:StatementByExecutiveAndSupervisoryBoards>
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<arr:OpinionOnAuditedFinancialStatements contextRef="ctx26" id="fact1026" xml:lang="en">Our opinion  In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the Groupâs and the Parent Compa-  nyâs financial position at 31 December 2024 and of the results of the Groupâs and the Parent Companyâs operations and cash flows for the financial year 1 January to  31 December 2024 in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act.  Our opinion is consistent with our Auditorâs Long-form Report to the Audit Committee and the Board of Directors.  What we have audited  The Consolidated Financial Statements and Parent Company Financial Statements of Asetek A/S for the financial year 1 January to 31 December 2024 comprise in-  come statement and statement of comprehensive income, balance sheet, statement of changes in equity, cash flow statement and notes, including material account-  ing policy information for the Group as well as for the Parent Company. Collectively referred to as the âFinancial Statementsâ.  </arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx26" id="fact1037" xml:lang="en">Basis for opinion  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 Auditorâs 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.  Independence  We are independent of the Group in accordance with the International Ethics Standards Board for Accountantsâ International Code of Ethics for Professional Account-  ants (IESBA Code) and the additional ethical requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with these  requirements and the IESBA Code.  To the best of our knowledge and belief, prohibited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014 were not provided.  Appointment  Following the admission of the shares of Asetek A/S for listing on Oslo Stock Exchange, we were first appointed auditors of Asetek A/S on 24 April 2014 for the finan-  cial year 2014. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of 11 years including the financial year  2024. We were reappointed following a tendering process at the General Meeting on 30 April 2024.  </arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx26" id="fact1050" xml:lang="en">Key audit matters  Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Financial Statements for 2024. These matters  were addressed in the context of our audit of the Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on  these matters.  Key audit matter  Capitalization of development costs  The Group capitalizes development costs when certain criteria according to IFRS  are met. The criteria for recognition and measurement of development costs  are subject to Managementâs judgment and assumptions, which is uncertain by  nature. Completed development projects are assessed for impairment indica-  tions. For in-progress development projects impairment tests are performed at  least annually. The impairment tests are based on the strategy plan approved by  Management and value-in-use calculations based on expected future cash flows.  We focused on this area because the criteria for recognition and measurement  of development projects are subject to Management judgments and assump-  tions. Refer to note 14 in the Consolidated Financial Statements.  How our audit addressed the key audit matter  We assessed whether the Groupâs accounting policies are in accordance with  IFRS Accounting Standards.  We carried out risk assessment procedures in order to obtain an understanding  of IT systems, business processes and relevant controls regarding capitalized de-  velopment costs. For the controls, we assessed whether they were designed and  implemented to effectively address the risk of material misstatement.  We selected a sample of in-progress development projects and considered  whether all criteria described in IFRS Accounting Standards were met as basis for  capitalization.  We evaluated and challenged Managementâs assessment of impairment indica-  tors of completed development projects based on the commercial prospects of  the projects. For in-progress development projects and projects with impairment  indicators, we challenged the key assumptions applied in the value-in-use cal-  culations. Our work was based on our understanding of the business cases and  significant assumptions applied.  We challenged whether the intent to finalize the projects remain and whether  the projects are expected to generate future economic benefits exceeding the  carrying values.  Key audit matter  Impairment of non-current assets  During 2024, Management identified impairment indicators for the Group.  Consequently, Management prepared impairment tests resulting in impairment  losses recognized for the Groupâs property, plant and equipment.  The impairment tests are based on Managementâs assumptions of expected cash  inflows and outflows for the individual cash-generating units (CGUs). The impair-  ment tests are prepared as value-in-use calculations for the individual CGUs.  The significant assumptions in estimating the future cash flows are Manage-  mentâs outlook for revenue growth rates, margins and operating expenses, as  well as Managementâs determination of the discount rate.  We focused on this area because the impact on the profit for the year is signif-  icant, and because the impairment tests of non-current assets are considered  complex non-routine transactions and require significant judgments in determin-  ing the assumptions.  Reference is made to notes 2.22 and 15 in the Consolidated Financial State-  ments.  How our audit addressed the key audit matter  As part of our audit, we considered the appropriateness of the CGUs defined by  Management and the methodology used by Management to assess the carrying  amount of the non-current assets assigned to CGUs.  We performed detailed testing of Managementâs impairment tests for the CGUs,  and challenged the significant assumptions affecting the future cash flows, in-  cluding assumptions related to revenue growth, margins and operating expenses  as well as the discount rate.  We used our internal valuation specialists to independently challenge the dis-  count rate used. In calculating the discount rate, the key inputs used were inde-  pendently sourced from market data, and we assessed the methodology applied.  Further, we tested the mathematical accuracy of the impair-ment models pre-  pared by Management.  Finally, we assessed the adequacy of disclosures provided by  Management in the Financial Statements.  </arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx26" id="fact1119" xml:lang="en">Statement on Managementâs Review  Management is responsible for Managementâs Review.  Our opinion on the Financial Statements does not cover Managementâs 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 Managementâs Review and, in doing so, consider whether Managementâs Re-  view is materially inconsistent with the Financial Statements, or our knowledge obtained in the audit, or otherwise appears to be materially misstated.  Moreover, we considered whether Managementâs Review includes the disclosures required by the Danish Financial Statements Act.  Based on the work we have performed, in our view, Managementâs Review is in accordance with the Consolidated Financial Statements and the Parent Company  Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstate-  ment in Managementâs Review.  </arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx26" id="fact1128" xml:lang="en">Managementâs responsibilities for the Financial Statements  Management is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in  accordance with IFRS Accounting Standards as adopted by the EU and further requirements in 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 Groupâs and the Parent Companyâs ability to continue as a going concern, disclos-  ing, as applicable, matters related to going concern and using the going concern basis of accounting unless Management either intends to liquidate the Group or the  Parent Company or to cease operations, or has no realistic alternative but to do so.  </arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx26" id="fact1137" xml:lang="en">Auditorâs responsibilities for the audit of the Financial Statements  Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or  error, and to issue an auditorâs 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 these Financial Statements.  As part of an audit in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgment and maintain professional  skepticism 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 pur-  pose of expressing an opinion on the effectiveness of the Groupâs and the Parent Companyâs 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 Managementâs use of the going concern basis of accounting and based on the audit evidence obtained, whether a material un-  certainty exists related to events or conditions that may cast significant doubt on the Groupâs and the Parent Companyâs ability to continue as a going concern. If we  conclude that a material uncertainty exists, we are required to draw attention in our auditorâs 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 auditorâs report. However, future  events or conditions may cause the Group or the Parent Company to cease to continue as a going concern.  Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the  underlying transactions and events in a manner that gives a true and fair view.  Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the group  as a basis for forming an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision and review of the audit work performed  for purposes of the group audit. We remain solely responsible for our audit opinion.  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.  We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to commu-  nicate with them all relationships and other matters that may reasonably be thought to bear on our independence and, where applicable, actions taken to eliminate  threats or safeguards applied.  From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Financial  Statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes public  disclosure about the matter.  </arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx26" id="fact1172" xml:lang="en">Report on compliance with the ESEF Regulation  As part of our audit of the Financial Statements we performed procedures to express an opinion on whether the annual report of Asetek A/S for the financial year  1 January to 31 December 2024 with the filename Asetek-2024-12-31-en.zip is prepared, in all material respects, in compliance with the Commission Delegated  Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation of the annual report in  XHTML format and iXBRL tagging of the Consolidated Financial Statements including notes.  Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes:  ⢠The preparing of the annual report in XHTML format;  ⢠The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for all  financial information required to be tagged using judgement where necessary;  ⢠Ensuring consistency between iXBRL tagged data and the Consolidated Financial Statements presented in human-readable format; and  ⢠For such internal control as Management determines necessary to enable the preparation of an annual report that is compliant with the ESEF Regulation.  Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Regulation based  on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of procedures selected depend on the auditorâs  judgement, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The  procedures include:  ⢠Testing whether the annual report is prepared in XHTML format;  ⢠Obtaining an understanding of the companyâs iXBRL tagging process and of internal control over the tagging process;  ⢠Evaluating the completeness of the iXBRL tagging of the Consolidated Financial Statements including notes;  ⢠Evaluating the appropriateness of the companyâs use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suita-  ble element in the ESEF taxonomy has been identified;  ⢠Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and  ⢠Reconciling the iXBRL tagged data with the audited Consolidated Financial Statements.  In our opinion, the annual report of Asetek A/S for the financial year 1 January to 31 December 2024 with the filename Asetek-2024-12-31-en.zip is prepared, in all  material respects, in compliance with the ESEF Regulation.  In our opinion, the annual report of Asetek A/S for the financial year 1 January to 31 December 2024 with the filename Asetek-2024-12-31-en.zip is prepared, in all  material respects, in compliance with the ESEF Regulation.  </arr:AuditorsReportOnXbrlTagging>
<arr:SignatureOfAuditorsPlace contextRef="ctx26" id="fact1212" xml:lang="en">Aalborg</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx26" id="fact1213">2025-03-07</arr:SignatureOfAuditorsDate>
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<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx36" id="fact1284">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
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<cmn:NameAndSurnameOfAuditor contextRef="ctx35" id="fact1278" xml:lang="en">Mads Melgaard</cmn:NameAndSurnameOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx36" id="fact1281" xml:lang="en">Line Borregaard</cmn:NameAndSurnameOfAuditor>
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<cmn:IdentificationNumberOfAuditor contextRef="ctx35" id="fact1280" xml:lang="en">mne34354</cmn:IdentificationNumberOfAuditor>
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