Vetopia ApS

Significant accounting estimates

The valuation of goodwill and investments in group enterprises has been assessed through a discounted cash flow analysis. The cash flow analysis includes five-year projections, along with a terminal period, and is based on the actual results for 2025. The expectations reflect decisions that have already been made and include management's assessments of pricing, product portfolio, procurement agreements, and similar factors. The growth expectations used for the next 5 years reflect external market assessments and the terminal growth rate is set at 2% (2024: 2%).…

The parent company has receivables from group enterprises amounting M.DKK 606. The Group is expecting significant growth in the coming years and expects to be profitable in the coming years. Based on projections, the subsidiaries are expected to be able to repay the receivables by 2029. Until the subsidiaries have shown that they can become cashflow positive, there is a risk associated with the valuation of the receivables.

During 2026, the Group has continued to acquire veterinary clinics. Otherwise, no events materially affecting the Group's financial position have occurred after the financial year-end.

Vetopia ApS

Vetopia ApS are jointly taxed with other group companies and are severally liable for tax on the jointly taxed incomes etc. of the group. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of tax on interest, dividend tax and tax on royalty payments. Any subsequent adjustments of corporation taxes and withholding taxes may increase the the company's liability. Vetopia ApS has provided an unlimited security for group companies engagement with credit institutions.

Parent

2025…