Openframe ApS
Key figures
- Return on assets
- -17.8%
- Return on equity
- -31.8%
- Current ratio
- 190.4%
- Equity ratio
- 57.2%
Profit and loss
| Reporting period | |
|---|---|
Gross profit | 3,837,842 |
Operating profit | -3,007,886 |
Finance income | 94 |
Finance expenses | 477,308 |
Tax expense | -411,262 |
Profit/loss for the year | -3,073,838 |
Employees
| Reporting period | |
|---|---|
Avg. employees | 6 |
Personnel costs | 5,234,386 DKK |
Balance sheet
| Reporting period | |
|---|---|
Cash and cash equivalents | 1,575,770 |
Current assets | 4,271,241 |
Non-current assets | 12,632,456 |
Total assets | 16,903,697 |
Equity | 9,665,345 |
Liabilities | 7,238,352 |
Current liabilities | 2,242,988 |
Working capital
| Reporting period | |
|---|---|
Trade receivables | 467,827 |
Other current receivables | 1,557,865 |
Trade payables | 360,486 |
Capital and dividend
| Reporting period | |
|---|---|
Contributed capital | 306,011 |
Retained earnings | 913,572 |
Investments and assets
| Reporting period | |
|---|---|
Long-term investments and receivables | 90,000 |
Annual report highlights
Business and development
Description of key activities of the companyOpenframe’s purpose is to empower organizations to turn sustainability into a strategic advantage by reducing risk and driving growth. We do this through a digital SaaS platform that combines automation, structured data management, and market expertise in sustainability certifications and templates.
The company has recognised development projects with a carrying amount of DKK 10,828 thousand, cf. note 4 and note 7.…
Significant changes in the company's activities and financial mattersThere have been no significant changes in activities and financial matters.
Profit or loss from ordinary activities after tax totals DKK -3.074thousand against DKK -3.603thousand last year. Management is not satisfied with the year’s result, which was below expectations. The outcome reflects challenging market conditions and slower-than-expected conversion on commercial activities. Corrective actions have been initiated to improve profitability and performance in the coming year.
Risks and material matters
1.
Uncertainties relating to going concernThe company's management is aware that the company's liquidity is tight and highly dependent on expected future positive earnings as well as maintaining of the company's credit facilities at EIFO and external lenders together with potential financial support from the company’s existing and new shareholders.
Management expects positive earnings and an improvement in the company's liquidity, and on this basis, the company's management presents the annual report according to the going concern principle.
2.
Uncertainties concerning recognition and measurementMeasurement of the capitalised development projects is to a significant extent based on Management’s estimates of the projects’ future earnings, the time horizon for commercialisation, and the company’s ability to secure the necessary financing for the continued development. The estimates are based on budgets and business plans for the coming years, including expectations regarding the onboarding of customers among large property owners and the rollout of the Openframe Platform. These assumptions are subject to significant uncertainty, and material negative deviations from the budgeted figures may result in an impairment of the capitalised development projects.
Commitments and security
15.Contractual obligations and contingencies, etc.
Lease commitments:…
14.Charges and securityAs security for debt to Vækstfonden of DKK 3,466 thousand, the company has provided a floating charge over assets in the nominal amount of DKK 3,000 thousand. The floating charge comprises the following assets, which have a carrying amount at the balance sheet date of:
DKK in thousands…
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