BERING GROUP ApS

BERING Group is a design enterprise whose activities comprise the sale of wrist watches and jewellery.

The Group is engaged in sale almost all over the world, both directly and via agents and distributors. Today, the Group has companies in Denmark, Germany, the UK, the Netherlands and USA.…

The income statement for 2025 shows a loss of DKK 12,873 thousand against a loss of DKK 23,681 thousand last year, and the balance sheet at 31 December 2025 shows equity of DKK 75,308 thousand. Equity ratio remains high at 38.3%.

For the year 2025 a positive result in the level of DKK 0-5 million was expected, and revenue was expected at the same level as in 2024. However, the market situation showed more difficult in 2025 than expected due to geopolitical unrest and general uncertainty affecting the retail market. Therefore, revenue decreased 6% compared to last year. The Group has followed the turn-around plan with significant cost savings, however some savings take longer than anticipated. Together with exchange loss on USD this mainly explains the loss for the year.…

We have implemented cost saving initiatives and further initiatives are to come during 2026. We expect that revenue will be reduced 0 – 5% compared to 2025, and that the implemented cost saving initiatives will contribute to minimum a break-even result for in 2026 (result before tax at approx. DKK 0 to 7 million) and increased earnings from 2027 and onwards.

Other mattersThe Group’s employees have a thorough knowledge of the market and have shown a particular ability to develop a unique product programme. Upgrading of employees is made on an ongoing basis. The Group does not perform research and development activities, and the influence of the external environment is not regarded as material.

Regarding recognition and measurement uncertainties we refer to note 2 of the financial statements.

The preparation of the Group’s consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities, and uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Judgements…

As security for the group's debt to credit institutions, DKK 68.1 million, the group has placed security in inventories, property, plant and equipment, trade receivables and intangible assets, for an amount of DKK 62.7 million. The total carrying amount of these assets are DKK 102.7 million.

The Group has provided guarantees of a total of DKK 0.1 million.