ADVALIGHT ApS

The Company’s main activity is to develop, manufacture, and sell medical laser equipment to the dermatology ​and aesthetics markets and other activities related hereto.

Development in activities and finances

The income statement of the Company for 2025 shows a loss of DKK 26,597K and at 31 December 2025 the balance sheet of the Company shows a positive equity of DKK 26,670K. ​ ​Since 2018, the Company has made commercial sales of its dermatological laser equipment, ADVATx®. ​​Capital resources ​During 2025, the Company raised DKK 21.2 million in equity capital and further strengthened its capital base through an additional capital injection of DKK 10.0 million in May 2026. Furthermore, Management expects the Company to generate positive EBITDA from the second half of 2026.​​The above is reflected in Management's budget which shows a positive cash position end of December 2026 and into 2027. ​​Based on this, the management has decided to present the annual report under the assumption of going concern.

Valuation of development projects ​Development projects consist of completed development projects and development projects in progress. Completed development projects are amortized over 10 years. ​ ​The carrying value of development projects, DKK 34.9 million are based on Management’s expectations to future cash flow and other assumptions. The specific assumptions underlying the recognition and measurement of development projects is described in note 8. These assumptions are by nature subject to uncertainty considering the Company’s historically losses and historically needs of capital injections. Material deviations from Management's estimates and assumptions may affect the valuation of the development projects.

Valuation of development projects​Development projects consist of completed development projects and development projects in progress. Completed development projects are amortized over 10 years. ​​Development projects are amortised over their useful live, and is assessed for impairment whenever there is an indication that the development asset may be impaired. The amortisation period for completed development projects are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortisation period or method, as appropriate, and are treated as changes in accounting estimates.​The amortisation expense on intangible assets with finite li…

Apart from the capital injection in May 2026 no events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.

17 Assets charged and collateral

The company has pledged a corporate mortgage of DKK23,250 thousands regarding intagible assets, property, plant and equipment, invetories and receivables with a total carrying amount of DKK 50,224 thousands.