True Energy A/S
Key figures
- Return on assets
- -1,388.5%
- Return on equity
- –
- Current ratio
- 39%
- Equity ratio
- -11,860.8%
Profit and loss
| Reporting period | |
|---|---|
Gross profit | -1,980,060 |
Operating profit | -3,268,347 |
Finance income | 13,854 |
Finance expenses | 1,257,814 |
Tax expense | -12,829 |
Profit/loss for the year | -4,499,478 |
Employees
| Reporting period | |
|---|---|
Avg. employees | 4 |
Personnel costs | 1,288,287 DKK |
Balance sheet
| Reporting period | |
|---|---|
Cash and cash equivalents | 208,743 |
Current assets | 235,392 |
Total assets | 235,392 |
Equity | -27,919,461 |
Liabilities | 28,154,853 |
Current liabilities | 604,115 |
Working capital
| Reporting period | |
|---|---|
Trade receivables | 0 |
Other current receivables | 13,820 |
Trade payables | 467,077 |
Capital and dividend
| Reporting period | |
|---|---|
Contributed capital | 492,593 |
Retained earnings | -28,412,054 |
Annual report highlights
Business and development
True Energy was founded in Denmark in 2018. With partners in the Nordics, we aim to make it easy for customers to automatically use electricity when it is cheapest and most climatefriendly. At the same time, True Energy’s solutions help balance the energy grid. In this way, we – and our customers – support the transition to more renewable energy.
The company's purpose is to develop solutions for intelligent electricity consumption. Main focus is electrical vehicles (EV), where True Energy’s App automatically makes charging cheaper and more climate friendly. Furthermore, the solutions balance the grid and thereby support the electrification and acceleration of transition to sustainable energy.
Financial review
The company's income statement for the year ended 31 March 2026 shows a loss of DKK 4,499,478, and the balance sheet at 31 March 2026 shows negative equity of DKK 27,919,461.…
About Landis+Gyr AGSince 2021, True Energy A/S has been part of Landis+Gyr AG. Landis+Gyr is a leading global provider of integrated energy management solutions. We measure and analyze energy utilization to generate empowering analytics for smart grid and infrastructure management, enabling utilities and consumers to reduce energy consumption. Our innovative and proven portfolio of software, services and intelligent sensor technology is a key driver to decarbonize the grid. Having avoided more than 9 million tons of CO2 in FY 2021 and committed to achieve carbon neutrality by 2030, Landis+Gyr manages energy better – since 1896. With sales of USD 1.6 billion in FY 2021, Landis+Gyr employs around 7,800 talented people across five continents. For more information, please visit our website www.landisgyr.com.
Risks and material matters
As of 31 March 2026, the Company’s equity is negative by TDKK 27,916. Accordingly, the Company is subject to the provisions of the Danish Companies Act regarding capital loss.
To support the Company’s continued operations, the parent company, Landis+Gyr AG, has committed to provide financial support to True Energy A/S (in voluntary liquidation) through a credit facility amounting to TDKK 50,000 as of 31 March 2025. This letter of support is valid for a period of at least twelve months from the date of signing the financial statements of True Energy A/S for the period ended 31 March 2026.
The company's financial position at 31 March 2026 is affected by a group constribution of TDKK 21,000 from its parent company and that is recognized directly at the equity. The result for the year is affected by the liquidation of the company's operations. At 31 March 2026 all employees have been resigned and the company have stopped its operations.
Commitments and security
The company is jointly taxed with other group companies and is jointly liable with the other group companies for payable and unsettled corporation and withholding taxes. The total amount for payable corporate tax is shown in the annual report for Landis+Gyr, filial af Landis+Gyr Oy, Finland. Any subsequent corrections to the corporate tax and withtholding taxes can lead to a higher liability for the Company.
Other contingent liabilities not recognised in balance sheetIn relation to the liquidation of the Company, the Company has received claims raised by its creditors which is still pending. The amount of total claims is below TDKK 2,910. Based on the Company’s assessment and legal advice received, Liquidators expects the Company to prevail in the reported cases. Accordingly, no provisions have been recognised, as the claims are not expected to have any material financial effect.
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