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Span d.d.
Interim / Quarterly Report • Oct 31, 2025
2101_10-q_2025-10-31_1ff783b2-71ba-4e5e-9390-3e69c6688fbc.pdf
Interim / Quarterly Report
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Unaudited financial statements of Span Group and Span d.d.
Contents
| 1 | Management Interim Report – Management Report | 5 |
|---|---|---|
| 1.1. | Statement by Saša Kramar, Member of the Management Board, | |
| Marketing, Sales & Business Development Director | 6 | |
| 1.2. | Corporate events | 8 |
| 1.3. | Business events, awards and recognitions | 10 |
| 1.4. People and community | 14 | |
| 2 | Financial Indicators for nine months of 2025 | 19 |
| 2.1. | Operating Revenue, EBITDA and Net Profit of Span Group | 20 |
| 2.2. Operating Revenue, EBITDA and Net Profit of Span d.d. | 21 | |
| 2.3. Key features of the period – nine months of 2025 | 22 | |
| 2.4. Revenues by segments | 24 | |
| 2.5. Revenues by geographic markets | 26 | |
| 2.6. Balance Sheet | 27 | |
| 2.7. | Cash flow | 28 |
| 3 | Financial Statements of Span Group and Span d.d. | 31 |
| 4 | Notes | 45 |
| 4.1. | Notes accompanying Financial Statements - | |
| (drawn up for quarterly reporting periods) | 46 | |
| 5. | Statement on responsibility for compiling a report in the observed period | 47 |
1.1. Statement by Saša Kramar,
Member of the Management Board, Marketing, Sales & Business Development Director
It's easy to write an opening statement for the quarter with excellent results. All key business indicators recorded growth, and total revenue of the Span Group in nine months of this year exceeded the revenue achieved in the whole of 2024. EBITDA before one-off items amounted to EUR 11.2 million (39% growth), while net profit increased by 112%. Such results give cause for optimism going into the fourth quarter and the end of business year.
In the third quarter, we continued expanding to new markets, in accordance with our strategy of growth in Southern, Central and Eastern Europe, and Central Asia. With the incorporation of affiliated companies in Romania and Greece, we additionally strategically positioned ourselves in the Southern and South-East Europe market.
Issuing a Sustainability-Linked Bond in July 2025 drew a great deal of interest from investors – a maximum estimated amount of EUR 25 million was allocated. Collected funds will be used, amongst other things, for the expansion of the Span Group to new markets. With this bond, we showed that the financial strategy can and must be aligned with the sustainable business strategy. We committed to achieving specific ESG goals, accompanied by the KPI system that measures performance in education, digital security and care for the environment. I would like to particularly point out our goal of contributing to safer business environment and raising cyber security awareness – we plan on conducting at least 500 free training sessions for small and medium-sized enterprises by the end of 2029.
Training will be conducted within our Span Cyber Security Center, which started to operate as an Adult Learning Institution. The Center now offers formal qualifications recognized by the Croatian education system, as well. In three years of operation, more than 2.500 people have undergone training in the Center.
Microsoft acknowledged the quality of our work as well – the projects of development and implementation of advanced AI solutions, in cooperation with users, secured us two new advanced specializations in the artificial intelligence area: AI platform on Microsoft Azure and Microsoft Copilot. These specializations are a further confirmation of our commitment to creating new value for users.
Finally, I would like to thank all Span employees for their contribution to excellent results. Our focus remains on providing comprehensive care to users, along with continuous trust building, offering support and increasing security.
1.2. Corporate events
1.2.1. Acquisitions and disposals of treasury shares
In accordance with the Share Buy-Back Program adopted on 5 December 2024 at the meeting of the Management Board, and upon prior agreement of the Supervisory Board of Span d.d. (hereinafter: the Company), the investment firm Interkapital vrijednosni papiri d.o.o. bought and sold the Company shares on behalf of, and on account of the Company during the third quarter.
- The Company acquired 5,500 own shares, which represents 0.2806% of the share capital of the Company
- The Company released 1,300 own shares which represents 0.0663% of the share capital of the Company.
Prior to said acquisitions and disposals, the Company owned 1,560 own shares, representing 0.0796% of the share capital1 , and after said acquisitions and disposals, it owns a total of 5,760 own shares, representing 0.2939% of the share capital. The Share Buy-Back Program is implemented with the purpose of the disposal of shares within the ESOP Program of the Company, remuneration of the members of the Management Board, the employees of the Company and affiliated companies, potential acquisition of companies, and for any other purposes
1.2.2. Incorporation of companies
1.2.2.1. Incorporation of the company Span Evolve d.o.o.
On 2 July 2025, the registration of incorporation of the company Span Evolve d.o.o., Zagreb, Koturaška cesta 47, OIB: 06241824468, share capital: EUR 300,000.00 was published.
The founders are Krešimir Mlinarić, Josip Penavić and Span d.d., while the persons authorized to represent the company are Krešimir Mlinarić, director who represents the company independently and individually, and Josip Penavić, procurator.
Span Evolve was founded to drive business digitalization, with a focus on integrating and automating key business processes in organizations of all sizes. It will provide and support services for advanced business solutions, with an emphasis on increasing operational efficiency and making better business decisions. Using modern technologies for reporting, analytics, and intelligent data processing, users will be provided with the agility needed for growth and innovation.
consulting, implementation, customization,
The joint cooperation of Span and Span Evolve will bring together expertise in working with the entire spectrum of business solutions—from customer relationship management and finance to operational process optimization and automation—providing users with comprehensive support in implementing digital transformation, tailored to their specific needs and business context.
1.2.2.2. Incorporation of the company Span Romania S.R.L.
In accordance with the announced expansion strategy published in the Simplified Prospectus for the Public Offering and Listing of Sustainability-Linked Bonds, on 27 June 2025, the registration of the company Span Romania S.R.L., with its registered office at the address: Bucureşti Sectorul 2, Strada C. A. ROSETTI, Nr. 17, BIROUL 120 Register06, Etaj 1, registration number: J2025045725006, was conducted in the competent commercial register in Romania. The founder is Span B.V. Romania, with a market of 19 million inhabitants and a growing economy, represents significant potential, especially in the field of implementation and development of new technologies. It is in this context that Span recognizes an opportunity for further expansion, where, through its technological competences and existing international experience, it can contribute to the development of digitalization and digital transformation in this country.
1.2.2.3. Incorporation of the company Span Hellas SA in Greece
In accordance with the mentioned expansion strategy, on 9 July 2025, the company Span Hellas SA was established and registered, Zeppou str 33, Glyfada – Athina, 16677, registration number: 185798801000. The founders are Span d.d. and Vasileios Papoulias, who is also the Managing Director.
By opening a company in Greece, Span expands its operations to the markets of Greece, Malta and Cyprus—a geographical area in Southern Europe with significant potential for growth and investment in ICT services and solutions. Span's expertise and service portfolio are aligned with the goals of digitization and digital transformation in all three countries, and with this step, Span establishes a presence in markets where it has not been active so far.
that are provided for as such and allowed under the applicable legislation of the Republic of Croatia, in line with the decision of the General Assembly of the Company on 13 June 2022.
from the Netherlands. 1 The Company's share capital amounts to EUR 3,920,000.00 and is split into 1,960,000 common shares with a nominal value of EUR 2.00, under the symbol SPAN-R-A and ISIN symbol HRSPANRA0007.
1.3. Business events, awards and recognitions
1.3.1. Span successfully issued a Sustainability-Linked Bond
Span d.d. is the first Croatian IT company to successfully issue a Sustainability-Linked Bond. The Public Offering of Span's bond generated strong interest among investors, with overall demand of EUR 35.2 million. A maximum estimated amount of EUR 25 million was allocated, in accordance with pre-defined conditions. Bonds were issued with a maturity of five years, a 3.85% yield until maturity, and a 3.75% fixed interest rate with biannual payments. Notice on the final price and the total allocated amount of bonds can be found at the following link: Notice on the final price and the total allocated amount of bonds, while Notice on the final terms of the issue can be found at the following link: Notice on the final terms of the issue of sustainability-linked bond.
"By issuing a sustainability-linked bond, Span confirmed its strategic commitment to responsible business and actively undertook to implement specific changes. We are glad that the investors recognized our approach—their interest, which exceeded the expectations, clearly supports our strategic goals and the line of development", said Ana Vukšić, Member of the Management Board of Span in charge of Finance and ESG.
Collected funds will be used to expand the business of the Span Group, including establishing and investing in new members on foreign markets, as well as for capital investments, working capital, potential acquisitions and other corporate needs. The markets of Greece, Cyprus, Malta, Poland, Czech Republic, Slovakia, Romania and Kazakhstan are in focus.
As a holder of the sustainability-linked bond, Span is committed to achieving two key goals that closely reflect the ESG focus of the Company by the end of September 2029:
- To raise awareness of cyber security by providing training to 500 small and medium-sized enterprises through Span Cyber Security Center, thereby contributing to building the resilience of the digital society and a more secure business environment.
- To reduce absolute GHG scope 1 and 2 emissions by 22.5%, constituting a tangible step toward climate neutrality, and confirming Span's commitment to reducing adverse impact on the environment.
These goals are not only obligations toward investors, but part of a broader ESG strategy of Span integrating sustainability into all business segments—from technological solutions to social responsibility.
Span's bond offering received a great response from institutional investors, with the largest share represented by banks (66.4%), pension funds (17.5%), financial institutions (11.3%), special-purpose funds (2.8%), and retail investors with a presence of 2%. Their participation shows significant support and is the reflection of their trust in the long-term strategy of the Span Group.
During preparation and implementation of the issue, Span worked with Privredna banka Zagreb as the lead manager, while legal support was provided by the Praljak & Svić Law Firm. The bonds were officially issued via public offering on 16 July 2025, and listed on the Official Market of the Zagreb Stock Exchange on 17 July, while the first day of trading was 21 July 2025.
1.3.2. Span earned 2 new Microsoft Advanced Specializations
1.3.2.1. AI platform on Microsoft Azure
This specialization confirms Span's ability to design and deliver AI solutions using Microsoft technologies, which include generative AI, predictive models, AI agents, and document-aware conversational systems—all developed and delivered on Azure.This specialization unlocks new funding investments from Microsoft and puts Span to the list of AI leaders across the Microsoft partner ecosystem. Not only does it validate Span's deep expertise in building real-world AI solutions on Azure, but it also opens doors to co-selling opportunities, prioritized go-to-market support, and access to exclusive partner benefits.
1.3.2.2. Microsoft Copilot
The intensive application of artificial intelligence in business processes and everyday work has marked the past period in which we, together with our users, have worked on the development and implementation of advanced AI solutions based on Microsoft Copilot technology. Through concrete projects, work process optimization and responsible application of artificial intelligence, we have confirmed our expertise, reliability and commitment to creating real business value. As a result of this work, we have earned the Microsoft Copilot Advanced Specialization, a recognition that confirms our ability to provide users with a secure, efficient and strategically focused application of Copilot in their daily business.
1.3.3. Span Cyber Security Center transitioned into an educational institution
Span Cyber Security Center transitioned into an Adult Learning Institution that will provide formal and informal education programs in the area of cyber security. This means that it will be possible to gain formal qualifications recognized by the Croatian education system, in addition to existing training courses. Since its establishment three years ago, the Center has remained dedicated to the same mission: sharing the latest knowledge, practices and experiences in order to improve the competences of the business community in the area, and to educate a new generation of experts. The number of cyber threats is continuously increasing worldwide, making experts in this area indispensable. According to a survey of ISC2, the world's leading organization for cyber security experts, as many as 4.8 million experts in this field were needed in 2024. Through available programs in the Span Cyber Security Center and simulations of real-life cyber attacks, participants acquire practical and theoretical knowledge that enables them to recognize, analyze and respond to cyber threats efficiently. Most of the lecturers are Span's experts who acquired a lot of practical experience and knowledge working on national and international projects for many years, the knowledge that they now share with the participants.
"The demand for experts in the area of cyber security is increasing year after year, and educational capacities in Croatia can't keep up with that demand. That's why we recognized the importance of targeted programs for those that want to build their career in this profession of the present, and future as well. At Span Cyber Security Center, experts from the real sector share their knowledge and practical experience with participants to enable them to start or continue working in this area as soon as possible", said Marinko Žagar, director of the Span Cyber Security Center, who gained extensive experience in the area of cyber security during his 30-year career as a lecturer.
More than 2,500 participants were trained in the Span Cyber Security Center so far. Education programs are continuously updated, and they are designed to respond to specific needs of organizations and individuals, with a particular focus on practical applicability of the content. Two micro-qualifications are now available to the participants with the establishment of institution: Cyber Security Analyst and Cloud Security Expert. These are formal qualifications, which form part of the National Qualifications Framework and are entered into e-workbook. Acquiring micro-qualifications can also be co-financed using Croatian Employment Services vouchers, that can be used by all employed and unemployed persons over the age of 15.
1.3.4. Public tenders 1.3.4.1. Licenses for the use of Microsoft software products and services – public tender
Based on an open procedure for the public procurement of licenses for the use of Microsoft software products and services conducted during the first quarter of 2025 by the Central Public Procurement Office, where a bid of the Group of bidders Span d.d. and Combis d.o.o. was selected, licenses in the total amount of EUR 18,454,047.12 for the first year of use were delivered on 1 July 2025.
1.3.4.2. Hrvatska elektroprivreda d.d. – Buy-in and technical support renewal of Microsoft licenses – public tender
Based on an open procedure for the public procurement of Microsoft licenses and technical support, licenses in the total amount of EUR 2,691,977.32 for the first year of use were delivered on 1 July 2025.
1.4. People and community
1.4.1. HR initiatives
1.4.1.1. Strengthening our international presence and supporting new colleagues
In the third quarter, we continued expanding our business and strengthening the interna tional presence of Span Group. During this period, 68 new employees were employed, 19 of which joined offices outside Croatia, while 49 new colleagues were employed in Croatia.
We focused specifically on quality onboard ing and providing support to new colleagues who joined us in affiliated companies out side Croatia, and in order to further facil itate their integration, we launched a new International Onboarding Site on Intranet with all the necessary materials making the onboarding process faster, simpler and more informative.
1.4.1.2. Growing the Service Desk team and expanding to office in Rijeka
Following the successful Service Desk Open Day in the second quarter, which gave rise to an increasing interest of candi dates and new recruitments, we continued strengthening this business segment in the third quarter. By growing the Service Desk team and expanding to office in Rijeka, we are building our capacities fur ther and managing teams across multiple locations, which provides new experiences and perspectives. Team in Rijeka works in three shifts, same as their colleagues in Zagreb, thereby ensuring continuity and high-quality service.
1.4.1.3. Participation in conferences and professional events
In the third quarter, our team actively par ticipated in important professional events in the area of business analytics and artificial intelligence. At the croBA2025 – "Capability to Drive Impact" conference, we attend ed the workshop named "The Analyst as a Bridge: Connecting People, Ideas, and Disciplines". It was an excellent demon stration of talents and a variety of skills of our team, highlighting the presence of Span in the business analyst community. At the same time, our AI & Data team attended the Mediterranean Machine Learning Summer School (M2L) in Split, a prestigious interna tional event for artificial intelligence experts and enthusiasts. In addition, we attend ed lectures and workshops of the world's leading AI experts addressing generative artificial intelligence (large language models, vision & language models), reinforcement learning and multi-agent system, and we also presented our projects in the area of machine learning and AI, thereby connecting with researchers and potential future col leagues. This involvement further enhances our professional profile, enables knowledge and experience exchange, and strengthens the position of the company in the business analysts and AI experts community.
1.4.1.4. B2Run – team spirit and team power
Apart from business activities, the third quarter saw our participation in the B2Run race, where we once again demonstrated our team spirit and the importance of promot ing healthy lifestyle. Our runners achieved excellent results on Jarun Lake track.
Such initiatives are crucial for building positive organizational culture and show our commitment to employee well-being, health and promoting active lifestyle. By participating in the B2Run race we are further strengthening the presence and reputation of the company within business community, and we are emphasizing the values of team work and fellowship that we cherish outside the work environment as well.
1.4.2. Sustainability in Span
1.4.2.1. Strengthening professional capacities in the area of sustainability in cooperation with UN Global Compact
Within activities aimed at strengthening the competences in the area of sustainability, colleagues from ESG Department took part in the local training organized in the context of Climate Accelerator global program, under the auspices of UN Global Compact.
Participants had the opportunity to share challenges they face with in the practice through open dialogue, whereby cross-sectoral cooperation and knowledge exchange were further encouraged. Taking part in this program represents an important step in the continuous development of professional capacities within the company, and confirms our commitment to sustainable development goals.
1.4.2.2. Computer equipment being re-used by the community
As part of the activities aimed at strengthening the local community, during this quarter computer equipment was donated to institutions who work to contribute to the education, youth development and social inclusion. Since the equipment in question does not meet our internal
standards anymore, but is still completely functional, we found a way to extend its lifecycle and add new value to the community. Computers and associated equipment will continue to be used as a valuable tool for learning, creativity and connection in the hands of students, teachers and volunteers. With such responsible resource management, we reduce waste, support educational processes and contribute to positive changes in the society.
In an elementary school in Sisak the equipment was integrated into computer science classroom and STEM cabinet, thereby improving teaching conditions and the digital skills development of students. Donated computer equipment enabled the Chess Club Đakovo, Young Technicians Club Dankovec and Community Service Center Zagreb-Dugave to better plan and carry out activities, especially those aimed at working with children and youth, while significantly improving organizational capacities and everyday operation.
1.4.2.3. Span stands by young innovators
Span also had the opportunity to support ZG24Robotics team, which at the world competition in Brazil competed in the prestigious Soccer Open category—the most demanding discipline of the competition. Thanks to an exceptional level of knowledge, commitment and innovation, the team achieved excellent results and impressed the judges with precision, speed and advanced algorithms, winning all the available awards in its category. We are proud we can contribute by supporting this extraordinary success and encouraging the development of young talents in STEM.
Financial Indicators for nine months of 2025
2.1. Operating Revenue, EBITDA and Net Profit of Span Group
2.2. Operating Revenue, EBITDA and Net Profit of Span d.d.
| Operating revenue | +31% YoY |
Operating revenue | +41% YoY |
|---|---|---|---|
| 180.1 mil. EUR |
116.3 mil. EUR |
||
| EBITDA before one-off items | +39% YoY |
EBITDA before one-off items | +140% YoY |
| 11.2 mil. EUR |
8.6 mil. EUR |
||
| EBITDA after one-off items | +44% YoY |
EBITDA after one-off items | +161% YoY |
| 11.1 mil. EUR |
8.5 mil. EUR |
||
| Net Profit after one-off items | +112% YoY |
Net Profit after one-off items | +147% YoY |
2.3. Key features of the period – nine months of 2025
Profit and Loss Account – shortened
Span Group
| In thousands of EUR | 1-9M 2024 1-9M 2025 | ∆ % | Q3 2024 | Q3 2025 | ∆ % | |
|---|---|---|---|---|---|---|
| Total revenue | 138,525 | 180,990 | 31% | 49,554 | 63,356 | 28% |
| Operating revenue* | 137,128 | 180,109 | 31% | 49,501 | 63,211 | 28% |
| Other revenue | 1,397 | 881 | -37% | 53 | 145 | 175% |
| Total costs | 130,830 | 169,903 | 30% | 47,703 | 60,510 | 27% |
| Costs of goods and services sold* | 97,260 | 130,965 | 35% | 36,583 | 47,288 | 29% |
| Personnel expenses | 26,143 | 31,550 | 21% | 8,602 | 10,893 | 27% |
| Other operating expenses | 7,428 | 7,388 | -1% | 2,518 | 2,329 | -7% |
| EBITDA before one-off items | 8,090 | 11,231 | 39% | 1,910 | 2,846 | 49% |
| EBITDA one-off items | 395 | 144 | -63% | 59 | – | -100% |
| EBITDA after one-off items | 7,695 | 11,086 | 44% | 1,851 | 2,846 | 54% |
| Depreciation and amortization | 2,799 | 3,154 | 13% | 925 | 1,075 | 16% |
| EBIT | 4,896 | 7,933 | 62% | 926 | 1,770 | 91% |
| Net financial result | (712) | (96) | 87% | (189) | (51) | 73% |
| Shares in profits of associated companies | – | (81) | 0% | – | (81) | 0% |
| Profit/loss before taxation before one-off items | 4,579 | 7,900 | 73% | 796 | 1,638 | 106% |
| Profit/loss before taxation after one-off items | 4,184 | 7,755 | 85% | 736 | 1,638 | 122% |
| Corporate tax | 1,189 | 1,397 | 17% | 82 | 216 | 163% |
| Profit/loss after taxation before one-off items | 3,391 | 6,503 | 92% | 713 | 1,422 | 99% |
| Profit/loss after taxation after one-off items | 2,995 | 6,359 | 112% | 654 | 1,422 | 117% |
*Revenue from voucher sales of the subsidiary undertaking that was previously reported in gross amount is now reported in net amount, while revenue and direct expenses are adapted for the previous period without impacting the results of the company and the Group.
Span d,d,
| In thousands of EUR | 1-9M 2024 1-9M 2025 | ∆ % | Q3 2024 | Q3 2025 | ∆ % | |
|---|---|---|---|---|---|---|
| Total revenue | 82,974 | 116,602 | 41% | 34,548 | 50,810 | 47% |
| Operating revenue | 82,561 | 116,319 | 41% | 34,447 | 50,703 | 47% |
| Other revenue | 412 | 283 | -31% | 101 | 107 | 6% |
| Total costs | 79,711 | 108,098 | 36% | 33,721 | 48,572 | 44% |
| Costs of goods and services sold | 53,865 | 74,931 | 39% | 24,304 | 37,087 | 53% |
| Personnel expenses | 20,270 | 27,294 | 35% | 7,430 | 9,538 | 28% |
| Other operating expenses | 5,576 | 5,874 | 5% | 1,988 | 1,947 | -2% |
| EBITDA before one-off items | 3,603 | 8,648 | 140% | 886 | 2,238 | 153% |
| EBITDA one-off items | 340 | 144 | -58% | 59 | – | -100% |
| EBITDA after one-off items | 3,263 | 8,504 | 161% | 827 | 2,238 | 171% |
| Depreciation and amortization | 2,029 | 2,556 | 26% | 747 | 871 | 17% |
| EBIT | 1,234 | 5,947 | 382% | 80 | 1,368 | 1608% |
| Net financial result | 1,483 | 658 | -56% | (125) | (164) | -31% |
| Profit/loss before taxation before one-off items | 3,056 | 6,750 | 121% | 14 | 1,204 | 8310% |
| Profit/loss before taxation after one-off items | 2,716 | 6,606 | 143% | (45) | 1,204 | 2788% |
| Corporate tax | 300 | 627 | 109% | – | 100 | 0% |
| Profit/loss after taxation before one-off items | 2,756 | 6,123 | 122% | 14 | 1,104 | 7611% |
| Profit/loss after taxation after one-off items | 2,416 | 5,979 | 147% | (45) | 1,104 | 2565% |
Revenue
Total consolidated revenue increased by EUR 42,465 thousand, or 31% compared to the nine months of 2024. The operating revenues grew by EUR 42,981 thousand in the same observed period. The highest absolute growth was recorded by the Software Asset Management and Licensing segment, while the highest relative growth was recorded by the Infrastructure Services, Cloud & Cyber Security segment (40%). Total revenue growth from IT services with high added value amounted to EUR 9,467 thousand.
In the same period, Span d.d. recorded a growth of total revenue by EUR 33,629 thousand, or 41%. The growth results from business revenues, which were higher by EUR 33,758 thousand. Revenue growth is the result of growth in all business segments, while the most significant growth was recorded in the Software Asset Management and Licensing segment. In the first quarter, a bid of the Group of bidders Span d.d. and Combis d.o.o. was selected on a public tender for the use of Microsoft software products and services, and the contract was implemented in July. In addition, in July, a contract was implemented for the purchase and renewal of technical support for Microsoft licenses as part of the open public procurement procedure of Hrvatske Elektroprivreda d.d.
Operating expenses
The total consolidated operating expenses saw an increase by EUR 39,073 thousand, or 30% compared to 2024. The largest generator of the growth of expenses was the cost of the goods and services sold, following the revenue growth.
The personnel expenses increased by EUR 5,408 thousand, or 21% compared to 2024. The average number of employees in the Group in nine months of 2025 was 884, compared to the prior year when the average number of employees in the Group was 859. Total expenses of Span d.d. increased by EUR 28,388 thousand compared to the same period last year. Cost of the goods and services sold increased by EUR 21,066 thousand, while personnel expenses increased by EUR 7,023 thousand, which is mostly due to the merger of the companies Ekobit and Bonsai.
The average number of employees in the Company in the observed period was 775, an increase compared to the prior year when the average number of employees in the Company was 700. Increase in the number of employees is a result of Ekobit and Bonsai mergers, and after the merger, the employees continue to work in the segments of services with high added value.
EBITDA
EBITDA of the Group before one-off items increased by EUR 3,141 thousand, or 39% and amounts to EUR 11,231 thousand. One-off items of EBITDA of the Group were EUR 144 thousand and related to: 1) severance pay to a former member of the Management Board 2) adjustment of the last instalment liability related to the acquisition of GT Tarkvara.
EBITDA after one-off items in the nine months of 2025 recorded an increase of 44% compared to the same period of the prior year.
Span d.d. recorded an increase of EBITDA before one-off items of EUR 5,046 thousand, or 140%, amounting to EUR 8,648 thousand. In the observed period, Span d.d. recorded an increase of EBITDA after one-off items of EUR 5,241 thousand, to EUR 8,504 thousand, which was a 161% increase. The increase of depreciation in the Company is mostly the result of the merger of the company Ekobit, and leasing an additional business premise.
The Group's net financial result of the period amounted to EUR -96 thousand, a result of foreign exchange losses in Span Croatia and interest expense due to bond issuance.
Revenues by segments
Span Group
| In thousands of EUR | 1-9M 2024 1-9M 2025 | ∆ % | Q3 2024 | Q3 2025 | ∆ % | |
|---|---|---|---|---|---|---|
| Total operating revenue | 137,128 | 180,109 | 31% | 49,501 | 63,211 | 28% |
| Software Asset Management and Licensing | 102,313 | 135,826 | 33% | 38,026 | 49,124 | 29% |
| Infrastructure Services, Cloud & Cyber Security | 10,578 | 14,844 | 40% | 3,130 | 3,931 | 26% |
| Service Center Management and Technical Support | 14,023 | 17,935 | 28% | 5,110 | 6,115 | 20% |
| Software and Business Solutions Development* | 10,213 | 11,503 | 13% | 3,236 | 4,041 | 25% |
*Revenue from voucher sales of the subsidiary undertaking that was previously reported in gross amount is now reported in net amount, while revenue and direct expenses are adapted for the previous period without impacting the results of the company and the Group
Span d.d.
| In thousands of EUR | 1-9M 2024 | 1-9M 2025 | ∆ % | Q3 2024 | Q3 2025 | ∆ % |
|---|---|---|---|---|---|---|
| Total operating revenue | 82,561 | 116,319 | 41% | 34,447 | 50,703 | 47% |
| Software Asset Management and Licensing | 52,546 | 75,009 | 43% | 24,207 | 37,666 | 56% |
| Infrastructure Services, Cloud & Cyber Security | 9,335 | 14,229 | 52% | 2,652 | 3,752 | 42% |
| Service Center Management and Technical Support | 13,643 | 17,417 | 28% | 4,997 | 5,939 | 19% |
| Software and Business Solutions Development | 7,037 | 9,665 | 37% | 2,591 | 3,346 | 29% |
Net profit
Profit after taxation before one-off items of the Group increased by EUR 3,112 thousand, to EUR 6,503 thousand. In the observed period, profit after taxation after one-off items of the Group increased by EUR 3,363 thousand, to EUR 6,359 thousand. One-off items are lower by EUR 251 thousand compared to the same period last year.
Span d.d. recorded a growth of profit after taxation before one-off items by EUR 3,367 thousand, to EUR 6,123 thousand. Span d.d. recorded a growth of profit after taxation after one-off items by EUR 3,562 thousand to EUR 5,979 thousand.
The cost of corporate tax reflected the release of the deferred tax assets for both tax reliefs obtained based on the Investment Promotion Act.
The Management Board of Span d.d. continuously considers all risks related to the Russian – Ukrainian war and is of opinion that those risks do not jeopardize the financial results of the Group.
2.4. Revenues by segments
Span Group generated revenue in the following segments:
-
- Software Asset Management and Licensing
-
- Infrastructure Services, Cloud & Cyber Security
-
- Service Center Management and Technical Support
-
- Software and Business Solution Development
Revenues by segments
Software Asset Management & Licensing 74.61%
- Infrastructure services, Cloud & Cyber Security 7.71%
- Service Center Management & Technical Support 10.23%
- Software & Business Solution Development 7.45%
Span Group 1-9M 2024 Span Group 1-9M 2025
ment & Licensing 75.41%
- Infrastructure services, Cloud & Cyber Security 8.24%
- Service Center Management & Technical Support 9.96%
- Software & Business Solution Development
Span d.d. 1-9M 2024 Span d.d. 1-9M 2025
Software Asset Management & Licensing 63.64%
- Infrastructure services, Cloud & Cyber Security 11.31%
- Service Center Management & Technical Support 16.53%
- Software & Business Solution Development 8.52%
- Software Asset Management & Licensing 64.49%
- Infrastructure services, Cloud & Cyber Security 12.23%
- Service Center Management & Technical Support 14.97%
- Software & Business Solution Development 8.31%
Data on revenues by segments of the operation of the Group and Span d.d. for nine months of 2024 and 2025 is provided above.
1. Software Asset Management and Licensing recorded a growth of revenue by 33%. The Group recorded higher revenue compared to the nine months of 2024. The highest growth was recorded by Span Croatia and Span LLC Ukraine, followed by Span Slovenia and GT Tarkvara. The share of revenues in the total operating revenues was 75%.
2. Infrastructure Services, Cloud & Cyber Security increased by 40% in the observed period, compared to the same period of the prior year. Revenue growth in this segment was generated by the realization of strategic investment in this business segment, additionally expanded by the implementation of a major project with one of our key customers.
3. Service Center Management and Technical Support contributed to a continuous growth of revenue through the supervision and management of the IT surroundings services, with the increase of revenue of this segment amounting to 28% compared to the same period last year.
4. Software and Business Solution Development in the observed period grew by 13% compared to the nine months of the last year.
Span Group 1-9M 2024 Span Group 1-9M 2025
Span d.d. 1-9M 2024 Span d.d. 1-9M 2025
2.5. Revenues by geographic markets
Revenues by geography show the geographic market where goods, or services are invoiced. The share of revenues the Group makes in foreign markets accounts for 73 % of the total revenues. The most significant growth of revenue, totalling EUR 13,596 thousand was recorded by the Croatian market, followed by the US market (EUR 6,161 thousand), and Ukraine (EUR 6,141 thousand), where Microsoft for most of its users in Q1 2024 still allowed the use of products free of charge.
Span d.d. achieves 41% of revenue on the Croatian market, which also recorded the highest growth compared to the same period last year.
2.6. Balance Sheet
| Span Group | Span d.d. | |||
|---|---|---|---|---|
| In thousands of EUR | 31.12.2024 | 30.9.2025 | 31.12.2024 | 30.9.2025 |
| ASSETS | 81,177 | 88,717 | 61,034 | 77,152 |
| Fixed assets | 25,063 | 23,970 | 30,024 | 29,852 |
| Deferred tax assets | 1,158 | 306 | 933 | 306 |
| Current assets | 25,997 | 22,072 | 17,091 | 15,611 |
| Cash and cash equivalents | 24,368 | 35,215 | 8,994 | 24,594 |
| Prepaid expenses and accrued income | 4,590 | 7,155 | 3,992 | 6,790 |
| LIABILITIES | 81,177 | 88,717 | 61,034 | 77,152 |
| Equity and reserves | 33,853 | 38,090 | 29,840 | 33,986 |
| Long-term liabilities | 2,414 | 26,882 | 2,377 | 26,627 |
| Current liabilities | 39,334 | 20,128 | 25,461 | 14,869 |
| Accrued expenses and deferred revenue | 5,575 | 3,618 | 3,356 | 1,670 |
Investment in assets
| Span Group | Span d.d. | |||||||
|---|---|---|---|---|---|---|---|---|
| In thousands of EUR | 1-9M 2024 1-9M 2025 Q3 2024 Q3 2025 | 1-9M 2024 1-9M 2025 Q3 2024 Q3 2025 | ||||||
| Computer equipment and other equipment | 512 | 709 | 241 | 200 | 490 | 564 | 239 | 168 |
| Tangible assets in preparation | 19 | 29 | 19 | 12 | – | – | – | – |
| Right-of-use assets | 2,178 | 1,188 | 383 | 485 | 2,124 | 863 | 344 | 185 |
| Other intangible assets | 14 | 20 | – | 17 | 3 | 1 | 3 | 1 |
| Intangible assets in preparation | 385 | 222 | 123 | 28 | 502 | 220 | 123 | 26 |
| Investment in assets total | 3,108 | 2,168 | 766 | 742 | 3,119 | 1,648 | 709 | 380 |
Assets
The total value of the assets of the Group was higher by EUR 7,540 thousand. The increase of the total assets is mostly the result of the increase of cash and cash equivalents.
Investment in assets
Investments of Span Group in tangible assets mostly related to expenditure for the procurement and replacement of worn-out computers and other equipment required for the work of employees. Right-of-use assets related to business premises and leased vehicles. Investment in intangible assets in preparation related to the implementation of software for own use, and the investment in business premises leased by the Company.
Deferred tax assets
Deferred tax assets represent income tax return amounts which are recoverable based on future taxable profit deductions. Deferred tax assets are recognized up to the amount of taxable earnings which are likely to be
achieved. When determining future taxable profits and the amount of taxable earnings which are likely to be achieved in the future, the Group judges and creates an estimate based on taxable profits from the previous years and the expected future earnings which are considered to be reasonable in existing circumstances. The Group made an assessment of the usability of tax relief for the estimate of the amount of deferred tax assets, based on support received from the Ministry of Economy, Entrepreneurship and Crafts. The support received enables Span d.d. to be exempt from payment of the income tax from 2021 to 2031.
Equity and reserves
The total equity and reserve of the Group increased by EUR 4,237 thousand. The increase arises from the retained profit and the profit of the current period.
Long-term and short-term liabilities
Total long-term liabilities increased by EUR 24,468 thousand as a result of bond issuance in the third quarter.
Short-term liabilities decreased by EUR 19,206 thousand primarily as a result of the decrease in liabilities to suppliers, and liabilities related to bank loans.
2.7. Cash flow
The Group recorded a negative cash flow from business activities due to somewhat slower working capital turnover in the nine months of 2025. The Group recorded the coefficient of the current liquidity of 2.71, which points to the ability of the Group to settle its current liabilities.
Negative cash flow from investment activities was mostly the result of the payment of the last instalment for the acquisition of GT Tarkvara.
The positive cash flow from financial activities is the result of bond issuance.
Negative net debt of the Group amounted to EUR 6,086 thousand, and is an indicator of the financial liquidity of the Group.
| Current Assets, Current Liabilities and Working Capital | Span Group | Span d.d. | ||
|---|---|---|---|---|
| In thousands of EUR | 31.12.2024 | 30.9.2025 | 31.12.2024 | 30.9.2025 |
| Current assets | 54,956 | 64,441 | 30,077 | 46,994 |
| Current liabilities | 44,910 | 23,746 | 28,817 | 16,539 |
| Working capital | 10,046 | 40,695 | 1,260 | 30,455 |
| Current liquidity ratio | 1.22 | 2.71 | 1.04 | 2.84 |
| Net debt | Span Group | Span d.d. | ||
| In thousands of EUR | 31.12.2024 | 30.9.2025 | 31.12.2024 | 30.9.2025 |
| Financial debt* | 8,299 | 29,128 | 8,118 | 30,343 |
| Cash and cash equivalents | 24,368 | 35,215 | 8,994 | 24,594 |
| Net debt | (16,069) | (6,086) | (876) | 5,749 |
| Total equity | 33,853 | 38,090 | 29,840 | 33,986 |
| Net debt and total equity ratio | - | - | - | 16.9% |
*long-term and short-term credits and loans, lease liabilities and liabilities for issued securities
| Cash flow | Span Group | Span d.d. | |||||||
|---|---|---|---|---|---|---|---|---|---|
| In thousands of EUR | 1-9M 2024 1-9M 2025 Q3 2024 Q3 2025 | 1-9M 2024 1-9M 2025 Q3 2024 Q3 2025 | |||||||
| Net cash from operating activities | 223 | -3,928 | -3,438 | -2,100 | -2,927 | -1,389 | -6,142 | -2,630 | |
| Net cash used in investment activities | -2,883 | -2,798 | -416 | -25 | -340 | -2,339 | 769 | -511 | |
| Net cash used in financial activities | 2,353 | 17,571 | 1,173 | 19,139 | 2,585 | 19,327 | 1,957 | 19,296 | |
| Net increase / decrease in cash and cash equivalents |
-306 | 10,846 | -2,680 | 17,015 | -682 | 15,600 | -3,416 | 16,156 |
Financial Statements of Span Group and Span d.d.
Statement of profit or loss for the period 1.1.2025 to 30.9.2025 in EUR, submitter: Span d.d.
| Same period of the previous year |
Current period | ||||
|---|---|---|---|---|---|
| Item | AOP code |
Cumulative | Quarter | Cumulative | Quarter |
| 1 | 2 | 3 | 4 | 5 | 6 |
| I OPERATING INCOME (ADP 002 to 006) | 001 | 138,524,751 | 49,553,644 | 180,989,650 | 63,355,845 |
| 1 Income from sales with undertakings within the Group | 002 | 0 | 0 | 0 | 0 |
| 2 Income from sales (outside Group) | 003 | 137,127,998 | 49,500,907 | 180,108,671 | 63,210,708 |
| 3 Income from the use of own products, goods and services | 004 | 0 | 0 | 0 | 0 |
| 4 Other operating income with undertakings within the Group | 005 | 0 | 0 | 0 | 0 |
| 5 Other operating income (outside the Group) | 006 | 1,396,753 | 52,737 | 880,979 | 145,137 |
| II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029) | 007 | 133,628,511 | 48,627,804 | 173,057,062 | 61,585,459 |
| 1 Changes in inventories of work in progress and finished goods | 008 | 0 | 0 | 0 | 0 |
| 2 Material costs (ADP 010 to 012) | 009 | 102,176,911 | 38,207,827 | 136,170,261 | 49,016,331 |
| a) Costs of raw materials and consumables | 010 | 461,655 | 140,331 | 398,142 | 119,338 |
| b) Costs of goods sold | 011 | 94,697,584 | 35,597,126 | 128,287,473 | 46,205,602 |
| c) Other external costs | 012 | 7,017,672 | 2,470,370 | 7,484,646 | 2,691,391 |
| 3 Staff costs (ADP 014 to 016) | 013 | 26,142,541 | 8,293,613 | 31,550,232 | 10,892,574 |
| a) Net salaries and wages | 014 | 16,881,330 | 5,208,246 | 20,904,628 | 7,201,999 |
| b) Tax and contributions from salary costs | 015 | 6,913,641 | 2,293,912 | 7,783,043 | 2,667,194 |
| c) Contributions on salaries | 016 | 2,347,570 | 791,455 | 2,862,561 | 1,023,381 |
| 4 Depreciation | 017 | 2,798,577 | 925,384 | 3,153,787 | 1,075,482 |
| 5 Other costs | 018 | 2,510,482 | 1,200,980 | 1,982,782 | 601,072 |
| 6 Value adjustments (ADP 020+021) | 019 | 0 | 0 | 200,000 | 0 |
| a) fixed assets other than financial assets | 020 | 0 | 0 | 0 | 0 |
| b) current assets other than financial assets | 021 | 0 | 0 | 200,000 | 0 |
| 7 Provisions (ADP 023 to 028) | 022 | 0 | 0 | 0 | 0 |
| a) Provisions for pensions, termination benefits and similar obligations | 023 | 0 | 0 | 0 | 0 |
| b) Provisions for tax liabilities | 024 | 0 | 0 | 0 | 0 |
| c) Provisions for ongoing legal cases | 025 | 0 | 0 | 0 | 0 |
| d) Provisions for renewal of natural resources | 026 | 0 | 0 | 0 | 0 |
| e) Provisions for warranty obligations | 027 | 0 | 0 | 0 | 0 |
| f) Other provisions | 028 | 0 | 0 | 0 | 0 |
| 8 Other operating expenses | 029 | 0 | 0 | 0 | 0 |
| III FINANCIAL INCOME (ADP 031 to 040) | 030 | 674,421 | 205,524 | 1,141,961 | 335,092 |
| 1 Income from investments in holdings (shares) of undertakings within the Group | 031 | 0 | 0 | 0 | 0 |
| 2 Income from investments in holdings (shares) of companies linked by virtue of participating interests |
032 | 0 | 0 | 0 | 0 |
| 3 Income from other long-term financial investment and loans granted to undertakings within the Group |
033 | 0 | 0 | 0 | 0 |
| 4 Other interest income from operations with undertakings within the Group | 034 | 0 | 0 | 0 | 0 |
| 5 Exchange rate differences and other financial income from operations with undertakings within the Group |
035 | 0 | 0 | 0 | 0 |
| 6 Income from other long-term financial investments and loans | 036 | 0 | 0 | 0 | 0 |
| 7 Other interest income | 037 | 252,418 | 108,413 | 490,677 | 215,700 |
| 8 Exchange rate differences and other financial income | 038 | 422,003 | 97,111 | 651,284 | 119,392 |
| 9 Unrealised gains (income) from financial assets | 039 | 0 | 0 | 0 | 0 |
| 10 Other financial income | 040 | 0 | 0 | 0 | 0 |
| IV FINANCIAL EXPENSES (ADP 042 to 048) | 041 | 1,385,473 | 394,527 | 1,237,980 | 386,867 |
| 1 Interest expenses and similar expenses with undertakings within the Group | 042 | 0 | 0 | 0 | 0 |
| 2 Exchange rate differences and other expenses from operations with undertakings within the Group |
043 | 0 | 0 | 0 | 0 |
| 3 Interest expenses and similar expenses | 044 | 250,981 | 101,645 | 431,540 | 270,379 |
| 4 Exchange rate differences and other expenses | 045 | 1,134,492 | 292,882 | 806,440 | 116,488 |
| 5 Unrealised losses (expenses) from financial assets | 046 | 0 | 0 | 0 | 0 |
| 6 Value adjustments of financial assets (net) | 047 | 0 | 0 | 0 | 0 |
| 7 Other financial expenses | 048 | 0 | 0 | 0 | 0 |
| V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS | 049 | 0 | 0 | 0 | 0 |
| VI SHARE IN PROFIT FROM JOINT VENTURES | 050 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|
| VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF PARTICIPATING INTEREST | 051 | 769 | 337 | 81,204 | 80,716 |
| VIII SHARE IN LOSS OF JOINT VENTURES | 052 | 0 | 0 | 0 | 0 |
| IX TOTAL INCOME (ADP 001+030+049 +050) | 053 | 139,199,172 | 49,759,168 | 182,131,611 | 63,690,937 |
| X TOTAL EXPENDITURE (ADP 007+041+051 + 052) | 054 | 135,014,753 | 49,022,668 | 174,376,246 | 62,053,042 |
| XI PRE-TAX PROFIT OR LOSS (ADP 053-054) | 055 | 4,184,419 | 736,500 | 7,755,365 | 1,637,895 |
| 1 Pre-tax profit (ADP 053-054) | 056 | 4,184,419 | 736,500 | 7,755,365 | 1,637,895 |
| 2 Pre-tax loss (ADP 054-053) | 057 | 0 | 0 | 0 | 0 |
| XII INCOME TAX | 058 | 1,188,932 | 82,140 | 1,396,783 | 216,278 |
| XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059) | 059 | 2,995,487 | 654,360 | 6,358,582 | 1,421,617 |
| 1 Profit for the period (ADP 055-059) | 060 | 2,995,487 | 654,360 | 6,358,582 | 1,421,617 |
| 2 Loss for the period (ADP 059-055) | 061 | 0 | 0 | 0 | 0 |
| DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations) | |||||
| XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS (ADP 063-064) | 062 | 0 | 0 | 0 | 0 |
| 1 Pre-tax profit from discontinued operations | 063 | 0 | 0 | 0 | 0 |
| 2 Pre-tax loss on discontinued operations | 064 | 0 | 0 | 0 | 0 |
| XV INCOME TAX OF DISCONTINUED OPERATIONS | 065 | 0 | 0 | 0 | 0 |
| 1 Discontinued operations profit for the period (ADP 062-065) | 066 | 0 | 0 | 0 | 0 |
| 2 Discontinued operations loss for the period (ADP 065-062) | 067 | 0 | 0 | 0 | 0 |
| TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations) | |||||
| XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062) | 068 | 0 | 0 | 0 | 0 |
| 1 Pre-tax profit (ADP 068) | 069 | 0 | 0 | 0 | 0 |
| 2 Pre-tax loss (ADP 068) | 070 | 0 | 0 | 0 | 0 |
| XVII INCOME TAX (ADP 058+065) | 071 | 0 | 0 | 0 | 0 |
| XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071) | 072 | 0 | 0 | 0 | 0 |
| 1 Profit for the period (ADP 068-071) | 073 | 0 | 0 | 0 | 0 |
| 2 Loss for the period (ADP 071-068) | 074 | 0 | 0 | 0 | 0 |
| APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements) | |||||
| XIX PROFIT OR LOSS FOR THE PERIOD (ADP 076+077) | 075 | 2,995,488 | 654,362 | 6,358,582 | 1,421,617 |
| 1 Attributable to owners of the parent | 076 | 2,995,488 | 702,204 | 6,385,578 | 1,445,452 |
| 2 Attributable to minority (non-controlling) interest | 077 | 0 | -47,842 | -26,996 | -23,835 |
| STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS) | |||||
| I PROFIT OR LOSS FOR THE PERIOD | 078 | 2,995,488 | 654,362 | 6,358,582 | 1,421,617 |
| II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80+ 87) | 079 | -173,120 | -89,260 | -361,330 | -29,631 |
| III Items that will not be reclassified to profit or loss (ADP 081 to 085) | 080 | 0 | 0 | 0 | 0 |
| 1 Changes in revaluation reserves of fixed tangible and intangible assets | 081 | 0 | 0 | 0 | 0 |
| 2 Gains or losses from subsequent measurement of equity instruments at fair value through other comprehensive income |
082 | 0 | 0 | 0 | 0 |
| 3 Fair value changes of financial liabilities at fair value through statement of profit or loss, attributable to changes in their credit risk |
083 | 0 | 0 | 0 | 0 |
| 4 Actuarial gains/losses on the defined benefit obligation | 084 | 0 | 0 | 0 | 0 |
| 5 Other items that will not be reclassified | 085 | 0 | 0 | 0 | 0 |
| 6 Income tax relating to items that will not be reclassified | 086 | 0 | 0 | 0 | 0 |
| IV Items that may be reclassified to profit or loss (ADP 088 to 095) | 087 | -173,120 | -89,260 | -361,330 | -29,631 |
| 1 Exchange rate differences from translation of foreign operations | 088 | -173,120 | -89,260 | -361,330 | -29,631 |
| 2 Gains or losses from subsequent measurement of debt securities at fair value through other comprehensive income |
089 | 0 | 0 | 0 | 0 |
| 3 Profit or loss arising from effective cash flow hedging | 090 | 0 | 0 | 0 | 0 |
| 4 Profit or loss arising from effective hedge of a net investment in a foreign operation | 091 | 0 | 0 | 0 | 0 |
| 5 Share in other comprehensive income/loss of companies linked by virtue of participating interests |
092 | 0 | 0 | 0 | 0 |
| 6 Changes in fair value of the time value of option | 093 | 0 | 0 | 0 | 0 |
| 7 Changes in fair value of forward elements of forward contracts | 094 | 0 | 0 | 0 | 0 |
| 8 Other items that may be reclassified to profit or loss | 095 | 0 | 0 | 0 | 0 |
| 9 Income tax relating to items that may be reclassified to profit or loss | 096 | 0 | 0 | 0 | 0 |
| V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087- 086 - 096) | 097 | -173,120 | -89,260 | -361,330 | -29,631 |
| VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 078+097) APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements) |
098 | 2,822,368 | 565,102 | 5,997,252 | 1,391,986 |
| VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 100+101) | 099 | 2,822,368 | 565,102 | 5,997,252 | 1,391,986 |
| 1 Attributable to owners of the parent | 100 | 2,822,368 | 612,944 | 6,024,248 | 1,415,821 |
| 2 Attributable to minority (non-controlling) interest | 101 | 0 | -47,842 | -26,996 | -23,835 |
Balance sheet, as of 30.9.2025 in EUR, submitter: Span d.d.
| Item | AOP code | Last day of the preceding business year |
At the reporting date of the current period |
|---|---|---|---|
| 2 | 3 | 4 | |
| A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID | 001 | 0 | 0 |
| B) FIXED ASSETS (ADP 003+010+020+031+036) | 002 | 26,220,943 | 24,276,188 |
| I INTANGIBLE ASSETS (ADP 004 to 009) | 003 | 14,976,850 | 14,063,834 |
| 1 Research and development | 004 | 1,754,106 | 1,287,440 |
| 2 Concessions, patents, licences, trademarks, software and other rights | 005 | 855,298 | 804,499 |
| 3 Goodwill | 006 | 8,905,148 | 8,905,148 |
| 4 Advances for the purchase of intangible assets | 007 | 0 | 0 |
| 5 Intangible assets in preparation | 008 | 120,232 | 140,566 |
| 6 Other intangible assets | 009 | 3,342,066 | 2,926,181 |
| II TANGIBLE ASSETS (ADP 011 to 019) | 010 | 9,742,742 | 9,494,216 |
| 1 Land | 011 | 2,359,528 | 2,359,528 |
| 2 Buildings | 012 | 5,003,146 | 4,524,817 |
| 3 Plant and equipment | 013 | 1,030,032 | 985,465 |
| 4 Tools, working inventory and transportation assets | 014 | 1,347,065 | 1,600,974 |
| 5 Biological assets | 015 | 0 | 0 |
| 6 Advances for the purchase of tangible assets | 016 | 0 | 0 |
| 7 Tangible assets in preparation | 017 | 2,971 | 23,432 |
| 8 Other tangible assets | 018 | 0 | 0 |
| 9 Investment property | 019 | 0 | 0 |
| III FIXED FINANCIAL ASSETS (ADP 021 to 030) | 020 | 342,899 | 411,932 |
| 1 Investments in holdings (shares) of undertakings within the Group | 021 | 0 | 0 |
| 2 Investments in other securities of undertakings within the Group | 022 | 0 | 0 |
| 3 Loans, deposits, etc. to undertakings within the Group | 023 | 0 | 0 |
| 4. Investments in holdings (shares) of companies linked by virtue of participating interests |
024 | 0 | 0 |
| 5 Investment in other securities of companies linked by virtue of participating interests |
025 | 0 | 0 |
| 6 Loans, deposits etc. to companies linked by virtue of participating interests | 026 | 0 | 30,237 |
| 7 Investments in securities | 027 | 0 | 0 |
| 8 Loans, deposits, etc. given | 028 | 52,100 | 52,100 |
| 9 Other investments accounted for using the equity method | 029 | 260,391 | 299,187 |
| 10 Other fixed financial assets | 030 | 30,408 | 30,408 |
| IV RECEIVABLES (ADP 032 to 035) | 031 | 509 | 509 |
| 1 Receivables from undertakings within the Group | 032 | 0 | 0 |
| 2 Receivables from companies linked by virtue of participating interests | 033 | 0 | 0 |
| 3 Customer receivables | 034 | 0 | 0 |
| 4 Other receivables | 035 | 509 | 509 |
| V DEFERRED TAX ASSETS | 036 | 1,157,943 | 305,697 |
| C) CURRENT ASSETS (ADP 038+046+053+063) | 037 | 50,365,645 | 57,286,458 |
| I INVENTORIES (ADP 039 to 045) | 038 | 278,655 | 276,300 |
| 1 Raw materials and consumables | 039 | 0 | 0 |
| 2 Work in progress | 040 | 0 | 0 |
| 3 Finished goods | 041 | 0 | 0 |
| 4 Merchandise | 042 | 278,655 | 276,300 |
| 5 Advances for inventories | 043 | 0 | 0 |
| 6 Fixed assets held for sale | 044 | 0 | 0 |
| 7 Biological assets | 045 | 0 | 0 |
| II RECEIVABLES (ADP 047 to 052) | 046 | 25,178,243 | 21,136,067 |
| 1 Receivables from undertakings within the Group | 047 | 0 | 0 |
| 2 Receivables from companies linked by virtue of participating interests | 048 | 0 | 0 |
| 3 Customer receivables | 049 | 24,309,482 | 19,358,742 |
| 4 Receivables from employees and members of the undertaking | 050 | 0 | 0 |
| 5 Receivables from government and other institutions | 051 | 209,776 | 924,631 |
| 6 Other receivables | 052 | 658,985 | 852,694 |
| III CURRENT FINANCIAL ASSETS (ADP 054 to 062) | 053 | 540,448 | 659,554 |
| 1 Investments in holdings (shares) of undertakings within the Group | 054 | 0 | 0 |
| 2 Investments in other securities of undertakings within the Group | 055 | 0 | 0 |
| 3 Loans, deposits, etc. to undertakings within the Group | 056 | 0 | 0 |
| 4 Investments in holdings (shares) of companies linked by virtue of | 057 | 0 | 0 |
| 058 | 0 | 0 | |
| participating interests 5 Investment in other securities of companies linked by virtue of participating interests 6 Loans, deposits etc. to companies linked by virtue of participating interests |
059 | 0 | 13,335 |
| 8 Loans, deposits, etc. given | 061 | 334,884 | 340,655 |
|---|---|---|---|
| 9 Other financial assets | 062 | 0 | 0 |
| IV CASH AT BANK AND IN HAND | 063 | 24,368,299 | 35,214,537 |
| D ) PREPAID EXPENSES AND ACCRUED INCOME | 064 | 4,590,213 | 7,154,596 |
| E) TOTAL ASSETS (ADP 001+002+037+064) | 065 | 81,176,801 | 88,717,242 |
| OFF-BALANCE SHEET ITEMS | 066 | 0 | 0 |
| LIABILITIES | |||
| A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) | 067 | 33,853,445 | 38,089,986 |
| I INITIAL (SUBSCRIBED) CAPITAL | 068 | 3,920,000 | 3,920,000 |
| II CAPITAL RESERVES | 069 | 8,802,205 | 8,885,608 |
| III RESERVES FROM PROFIT (ADP 071+072-073+074+075) | 070 | 1,457,930 | 1,457,930 |
| 1 Legal reserves | 071 | 1,457,930 | 1,457,930 |
| 2 Reserves for treasury shares | 072 | 53,089 | 405,092 |
| 3 Treasury shares and holdings (deductible item) | 073 | -53,089 | -405,092 |
| 4 Statutory reserves | 074 | 0 | 0 |
| 5 Other reserves | 075 | 0 | 0 |
| IV REVALUATION RESERVES V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) |
076 077 |
3,130,087 -220,139 |
3,130,087 -581,469 |
| 1 Financial assets at fair value through other comprehensive income | |||
| (i.e. available for sale) | 078 | 0 | 0 |
| 2 Cash flow hedge - effective portion | 079 | 0 | 0 |
| 3 Hedge of a net investment in a foreign operation - effective portion | 080 | 0 | 0 |
| 4 Other fair value reserves | 081 | 0 | 0 |
| 5 Exchange differences arising from the translation of foreign operations (consolidation) |
082 | -220,139 | -581,469 |
| VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-085) | 083 | 13,365,190 | 14,845,156 |
| 1 Retained profit | 084 | 13,365,190 | 14,845,156 |
| 2 Loss brought forward | 085 | 0 | 0 |
| VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088) | 086 | 3,398,172 | 6,385,582 |
| 1 Profit for the business year | 087 | 3,398,172 | 6,385,582 |
| 2 Loss for the business year | 088 | 0 | 0 |
| VIII MINORITY (NON-CONTROLLING) INTEREST | 089 | 0 | 47,092 |
| B) PROVISIONS (ADP 091 to 096) | 090 | 0 | 0 |
| 1 Provisions for pensions, termination benefits and similar obligations | 091 | 0 | 0 |
| 2 Provisions for tax liabilities | 092 | 0 | 0 |
| 3 Provisions for ongoing legal cases | 093 | 0 | 0 |
| 4 Provisions for renewal of natural resources | 094 | 0 | 0 |
| 5 Provisions for warranty obligations | 095 | 0 | 0 |
| 6 Other provisions | 096 | 0 | 0 |
| C) LONG-TERM LIABILITIES (ADP 098 to 108) | 097 | 2,413,870 | 26,881,599 |
| 1 Liabilities to undertakings within the Group | 098 | 0 | 0 |
| 2 Liabilities for loans, deposits, etc. of undertakings within the Group | 099 | 0 | 0 |
| 3 Liabilities to companies linked by virtue of participating interests | 100 | 0 | 0 |
| 4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests |
101 | 0 | 0 |
| 5 Liabilities for loans, deposits etc. | 102 | 0 | 0 |
| 6 Liabilities to banks and other financial institutions | 103 | 0 | 0 |
| 7 Liabilities for advance payments | 104 | 0 | 0 |
| 8 Liabilities to suppliers | 105 | 0 | 0 |
| 9 Liabilities for securities | 106 | 0 | 24,651,000 |
| 10 Other long-term liabilities | 107 | 1,579,245 | 1,395,974 |
| 11 Deferred tax liability | 108 | 834,625 | 834,625 |
| D) SHORT-TERM LIABILITIES (ADP 110 to 123) | 109 | 39,334,066 | 20,127,809 |
| 1 Liabilities to undertakings within the Group | 110 | 0 | 0 |
| 2 Liabilities for loans, deposits, etc. of undertakings within the Group | 111 | 0 | 0 |
| 3 Liabilities to companies linked by virtue of participating interests | 112 | 0 | 0 |
| 4 Liabilities for loans, deposits etc. of companies linked by virtue of | 113 | 0 | 0 |
| participating interests | |||
| 5 Liabilities for loans, deposits etc. | 114 | 0 | 0 |
| 6 Liabilities to banks and other financial institutions 7 Liabilities for advance payments |
115 116 |
5,522,264 606,346 |
1,513,177 577,556 |
| 8 Liabilities to suppliers | 117 | 22,068,070 | 9,286,378 |
| 9 Liabilities for securities | 118 | 0 | 205,948 |
| 10 Liabilities to employees | 119 | 2,049,105 | 2,137,096 |
| 11 Taxes, contributions and similar liabilities | 120 | 3,455,542 | 2,620,403 |
| 12 Liabilities arising from the share in the result | 121 | 0 | 0 |
| 13 Liabilities arising from fixed assets held for sale | 122 | 0 | 0 |
| 14 Other short-term liabilities | 123 | 5,632,739 | 3,787,251 |
| E) ACCRUALS AND DEFERRED INCOME | 124 | 5,575,419 | 3,617,848 |
| F) TOTAL – LIABILITIES (ADP 067+090+097+109+124) | 125 | 81,176,800 | 88,717,242 |
| G) OFF-BALANCE SHEET ITEMS | 126 | 0 | 0 |
Statement of cash flows - indirect method for the period 1.1.2025 to 30.9.2025 in EUR, submitter: Span d.d.
| Item | AOP code |
Same period of the previous year |
Current period |
|---|---|---|---|
| 1 | 2 | 3 | 4 |
| Cash flow from operating activities | |||
| 1 Pre-tax profit | 001 | 4,184,419 | 7,755,365 |
| 2 Adjustments (ADP 003 to 010): | 002 | 1,578,395 | 3,201,568 |
| a) Depreciation | 003 | 2,798,577 | 3,153,787 |
| b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets | 004 | 263 | 32,185 |
| c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets | 005 | 2,297 | 281,204 |
| d) Interest and dividend income | 006 | -252,418 | -490,677 |
| e) Interest expenses | 007 | 250,981 | 431,541 |
| f) Provisions | 008 | 0 | 0 |
| g) Exchange rate differences (unrealised) | 009 | -133,150 | -339,622 |
| h) Other adjustments for non-cash transactions and unrealised gains and losses | 010 | -1,088,155 | 133,150 |
| I Cash flow increase or decrease before changes in working capital (ADP 001+002) | 011 | 5,762,814 | 10,956,933 |
| 3 Changes in the working capital (ADP 013 to 016) | 012 | -4,821,854 | -13,711,052 |
| a) Increase or decrease in short-term liabilities | 013 | -11,012,122 | -13,366,412 |
| b) Increase or decrease in short-term receivables | 014 | 10,531,558 | 4,174,959 |
| c) Increase or decrease in inventories | 015 | 163,966 | 2,355 |
| d) Other increase or decrease in working capital | 016 | -4,505,256 | -4,521,954 |
| II Cash from operations (ADP 011+012) | 017 | 940,960 | -2,754,119 |
| 4 Interest paid | 018 | -226,098 | -235,679 |
| 5 Income tax paid | 019 | -492,010 | -937,755 |
| A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019) | 020 | 222,852 | -3,927,553 |
| Cash flow from investment activities | |||
| 1 Cash receipts from sales of fixed tangible and intangible assets | 021 | 21,301 | 28,337 |
| 2 Cash receipts from sales of financial instruments | 022 | 0 | 0 |
| 3 Interest received | 023 | 252,418 | 490,677 |
| 4 Dividends received | 024 | 0 | 0 |
| 5 Cash receipts from repayment of loans and deposits | 025 | 0 | 0 |
| 6 Other cash receipts from investment activities | 026 | 0 | 0 |
| III Total cash receipts from investment activities (ADP 021 to 026) | 027 | 273,719 | 519,014 |
| 1 Cash payments for the purchase of fixed tangible and intangible assets | 028 | -928,445 | -980,171 |
| 2 Cash payments for the acquisition of financial instruments | 029 | 0 | 0 |
| 3 Cash payments for loans and deposits for the period | 030 | 0 | 0 |
| 4 Acquisition of a subsidiary, net of cash acquired | 031 | -2,227,855 | -2,216,432 |
| 5 Other cash payments from investment activities | 032 | 0 | -120,000 |
| IV Total cash payments from investment activities (ADP 028 to 032) | 033 | -3,156,300 | -3,316,603 |
| B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033) | 034 | -2,882,581 | -2,797,589 |
| Cash flow from financing activities | |||
| 1 Cash receipts from the increase in initial (subscribed) capital | 035 | 0 | 0 |
| 2 Cash receipts from the issue of equity financial instruments and debt financial instruments | 036 | 0 | 24,651,000 |
| 3 Cash receipts from credit principals, loans and other borrowings | 037 | 10,000,000 | 6,501,000 |
| 4 Other cash receipts from financing activities | 038 | 121,640 | 0 |
| V Total cash receipts from financing activities (ADP 035 to 038) | 039 | 10,121,640 | 31,152,000 |
| 1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments |
040 | -5,550,000 | -10,500,000 |
| 2 Cash payments for dividends | 041 | -585,567 | -1,564,299 |
| 3 Cash payments for finance lease | 042 | 0 | 0 |
| 4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital | 043 | -470,109 | -268,601 |
| 5 Other cash payments from financing activities | 044 | -1,162,520 | -1,247,720 |
| VI Total cash payments from financing activities (ADP 040 to 044) | 045 | -7,768,196 | -13,580,620 |
| C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045) | 046 | 2,353,444 | 17,571,380 |
| 1 Unrealised exchange rate differences in respect of cash and cash equivalents | 047 | 0 | 0 |
| D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047) | 048 | -306,285 | 10,846,238 |
| E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 049 | 14,379,495 | 24,368,299 |
| F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (ADP 048+049) | 050 | 14,073,210 | 35,214,537 |
Statement of changes in equity for the period from 1.1.2025 to 30.9.2025, in EUR
Attributable to owners of the parent
| Accirbe | Fair value of | Hodgo of a not | at | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Item | AOP code |
Initial (subscribed) capital |
Capital reserves | Legal reserves | Reserves fortreasury shares |
Treasury shares and holdings (deductible item) |
Statutory reserves |
Otherreserves | Revaluation reserves |
Fair value of financial assets through other comprehensive income (available for sale) |
Cash flow hedge - effective portion |
Hedge of a net investment in a foreign operation - effective portion |
Other fair value reserves | Exchange rate differences from translation of foreign operations |
n Retained profit /loss brought forward |
PTOIIT/ IOSS IOT L | he Total attributable to owners of the parent |
Minority (non-controlling) interest |
Total capital and reserves |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 (3 to 6 - 7 + 8 to 17) | 19 | 20 (18+19) |
| Previous period | - | ||||||||||||||||||
| 1 Balance on the first day of the previous business year | 01 | 3,920,000 | 9,918,808 | 1,377,098 | 624,100 | 624,100 | 0 | 0 | 1,876,704 | 0 | 0 | 0 | 0 | -237,143 | 12,103,558 | 1,144,183 | 30,103,208 | 319,690 | 30,422,898 |
| 2 Changes in accounting policies | 02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 Correction of errors | 03 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 4 Balance on the first day of the previous business year (restated) (ADP 01 to 03) | 04 | 3,920,000 | 9,918,808 | 1,377,098 | 624,100 | 624,100 | 0 | 0 | 1,876,704 | 0 | 0 | 0 | 0 | -237,143 | 12,103,558 | 1,144,183 | 30,103,208 | 319,690 | 30,422,898 |
| 5 Profit/loss of the period | 05 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,398,172 | 3,398,172 | 0 | 3,398,172 |
| 6 Exchange rate differences from translation of foreign operations | 06 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,004 | 0 | 0 | 17,004 | 0 | 17,004 |
| 7Changesinrevaluationreservesoffixedtangibleandintangibleassets | 07 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,253,382 | 0 | 0 | 0 | 0 | 0 | 120,405 | 0 | 1,373,787 | 0 | 1,373,787 |
| 8 Gains or losses from subsequent measurement of financial assets at fair value | 08 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| through other comprehensive income (available for sale) | 00 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| 9 Profit or loss arising from effective cash flow hedge | 09 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 10 Profit or loss arising from effective hedge of a net investment in a foreign operation | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 11 Share in other comprehensive income/loss of companies linked by virtue of participating interests | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 12 Actuarial gains/losses on the defined benefit obligation | 12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 13 Other changes in equity unrelated to owners | 13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 14 Tax on transactions recognised directly in equity | 14 | 0 | U | 0 | U | U | U | U | 0 | 0 | U | 0 | U | U | Ü | 0 | 0 | U | U |
| 15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit) |
15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure | 16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 17 Decrease in initial (subscribed) capital arising from the reinvestment of profit | 17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 18 Redemption of treasury shares/holdings | 18 | 0 | 0 | 0 | 233,231 | 233,231 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 19 Payments from members/shareholders | 19 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 20 Payment of share in profit/dividend | 20 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -124,122 | -461,445 | -585,567 | 0 | -585,567 |
| 21 Other distributions and payments to members/shareholders | 21 | 0 | -1,116,603 | 80,832 | -804,242 | -804,242 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 582,611 | 0 | -453,160 | -319,690 | -772,850 |
| 22 Transfer to reserves according to the annual schedule | 22 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 682,738 | -682,738 | 0 | 0 | 0 |
| 23 Increase in reserves arising from the pre-bankruptcy settlement procedure | 23 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 24 Balance on the last day of the previous business year reporting period (ADP 04 to 23) | 24 | 3,920,000 | 8,802,205 | 1,457,930 | 53,089 | 53,089 | 0 | 0 | 3,130,086 | 0 | 0 | 0 | 0 | -220,139 | 13,365,190 | 3,398,172 | 33,853,444 | 0 | 33,853,444 |
| APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up fi | nancial sta | tements in acc | cordance with tl | he IFRS) | |||||||||||||||
| I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 06 to 14) | 25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,253,382 | 0 | 0 | 0 | 0 | 17,004 | 120,405 | 0 | 1,390,791 | 0 | 1,390,791 |
| II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 05+25) | 26 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,253,382 | 0 | 0 | 0 | 0 | 17,004 | 120,405 | 3,398,172 | 4,788,963 | 0 | 4,788,963 |
| III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY | 27 | 0 | -1,116,603 | 80,832 | -571,011 | -571,011 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,141,227 | -1,144,183 | -1,038,727 | -319,690 | -1,358,417 |
| (ADP 15 to 23) | , ,,,,,,, | , | , | , , , | , , | , , , | ,, | , | , , | ||||||||||
| Current period | 0.0 | 0.000.000 | 0.000.005 | 1 /57 000 | 50,000 | 50,000 | 0 | 0 | 0.100.000 | 0 | 0 | 0 | 0 | 200 100 | 10 007 100 | 0.000.170 | 00.050.777 | 0 | 00.050.777 |
| 1 Balance on the first day of the current business year | 28 | 3,920,000 | 8,802,205 | 1,457,930 | 53,089 | 53,089 | 0 | 0 | 3,130,086 | 0 | 0 | 0 | 0 | -220,139 | 13,365,190 | 3,398,172 | 33,853,444 | 0 | 33,853,444 |
| 2 Changes in accounting policies | 29 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 Correction of errors | 30 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 4 Balance on the first day of the current business year (restated) (AOP 28 to 30) | 31 | 3,920,000 | 8,802,205 | 1,457,930 | 53,089 | 53,089 | 0 | 0 | 3,130,086 | 0 | 0 | 0 | 0 | -220,139 | 13,365,190 | 3,398,172 | 33,853,444 | 0 | 33,853,444 |
| 5 Profit/loss of the period | 32 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6,385,582 | 6,385,582 | -26,996 | 6,358,586 |
| 6 Exchange rate differences from translation of foreign operations | 33 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -361,330 | 0 | 0 | -361,330 | 0 | -361,330 |
| 7 Changes in revaluation reserves of fixed tangible and intangible assets | 34 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 8 Gains or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale) | 35 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 9 Profit or loss arising from effective cash flow hedge | 36 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 10 Profit or loss arising from effective hedge of a net investment in a foreign operation | 37 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 11 Share in other comprehensive income/loss of companies linked by virtue of participating interests | 38 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 12 Actuarial gains/losses on the defined benefit obligation | 39 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 13 Other changes in equity unrelated to owners | 40 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 14 Tax on transactions recognised directly in equity | 41 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit) | 42 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| $16Decrease\ in\ initial\ (subscribed)\ capital\ arising\ from\ the\ pre-bankruptcy\ settlement\ procedure$ | 43 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 17 Decrease in initial (subscribed) capital arising from the reinvestment of profit | 44 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 18 Redemption of treasury shares/holdings | 45 | 0 | 0 | 0 | 451,230 | 451,230 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 19 Payments from members/shareholders | 46 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 20 Payment of share in profit/dividend | 47 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,564,299 | 0 | -1,564,299 | 0 | -1,564,299 |
| 91 Other distributions and payments to members /shareholders | 83,402 | 0 | -99,227 | -99,227 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -353,907 | 0 | -270,505 | 74,088 | -196,417 | ||
| 21 Other distributions and payments to members/shareholders | 48 | 0 | , | _ | |||||||||||||||
| 22 Carryforward per annual plane | 48 49 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,398,172 | -3,398,172 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,398,172 0 |
-3,398,172 0 |
0 | 0 | 0 | |||
| 22 Carryforward per annual plane | 49 | 0 0 0 3,920,000 |
0 | 0 0 405,092 |
0 0 0 |
0 0 0 |
0 0 3,130,086 |
0 0 0 |
0 0 0 |
0 | 0 | 0 0 -581,469 |
|||||||
| 22 Carryforward per annual plane 23 Increase in reserves arising from the pre-bankruptcy settlement procedure |
49 50 51 |
0 0 8,885,607 |
0 1,457,930 |
0 0 405,092 |
0 | 0 0 0 |
- | 0 0 3,130,086 |
- | 0 0 0 |
- | 0 | - | 0 | 0 | 0 | 0 | 0 | |
| 22 Carryforward per annual plane 23 Increase in reserves arising from the pre-bankruptcy settlement procedure 24 Balance on the last day of the current business year reporting period (ADP 31 to 50) | 49 50 51 |
0 0 8,885,607 |
0 1,457,930 |
0 0 405,092 |
0 | 0 0 0 | - | 0 0 3,130,086 |
- | 0 0 0 | - | 0 0 | - | 0 | 0 | 0 | 0 | 0 | |
| 22 Carryforward per annual plane 23 Increase in reserves arising from the pre-bankruptcy settlement procedure 24 Balance on the last day of the current business year reporting period (ADP 31 to 50) APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up fi | 49 50 51 nancial sta |
0 0 8,885,607 |
0 1,457,930 he IFRS) |
0 0 405,092 0 0 |
0 | 0 0 0 |
- | 0 0 3,130,086 0 |
0 | 0 0 0 |
0 | 0 0 0 | -581,469 | 0 14,845,156 |
0 6,385,582 |
0 38,042,892 |
0 47,092 |
0 38,089,984 |
Span d.d. Statement of profit or loss for the period 1.1.2025 to 30.9.2025 in EUR, submitter: Span d.d.
| Item 1 |
of the previous year | Same period | Current period | ||
|---|---|---|---|---|---|
| AOP code |
Cumulative | Quarter | Cumulative | Quarter | |
| 2 | 3 | 4 | 5 | 6 | |
| I OPERATING INCOME (ADP 002 to 006) | 001 | 82,973,574 | 34,548,392 | 116,602,176 | 50,810,038 |
| 1 Income from sales with undertakings within the Group | 002 | 15,935,202 | 4,172,263 | 20,161,423 | 4,488,646 |
| 2 Income from sales (outside Group) | 003 | 66,625,903 | 30,274,931 | 96,157,723 | 46,213,979 |
| 3 Income from the use of own products, goods and services | 004 | 0 | 0 | 0 | 0 |
| 4 Other operating income with undertakings within the Group | 005 | 91,291 | 25,546 | 56,369 | 13,044 |
| 5 Other operating income (outside the Group) | 006 | 321,178 | 75,652 | 226,661 | 94,369 |
| II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029) | 007 | 81,739,988 | 34,468,304 | 110,654,711 | 49,442,469 |
| 1 Changes in inventories of work in progress and finished goods | 008 | 0 | 0 | 0 | 0 |
| 2 Material costs (ADP 010 to 012) | 009 | 57,684,942 | 25,642,844 | 79,250,296 | 38,522,692 |
| a) Costs of raw materials and consumables | 010 | 396,158 | 124,360 | 356,526 | 106,194 |
| b) Costs of goods sold | 011 | 50,060,472 | 23,250,788 | 71,546,056 | 35,905,816 |
| c) Other external costs | 012 | 7,228,312 | 2,267,696 | 7,347,714 | 2,510,682 |
| 3 Staff costs (ADP 014 to 016) | 013 | 20,270,300 | 7,429,860 | 27,293,695 | 9,537,798 |
| a) Net salaries and wages | 014 | 12,403,145 | 4,539,491 | 17,270,244 | 6,057,394 |
| b) Tax and contributions from salary costs | 015 | 5,864,103 | 2,156,469 | 7,384,980 | 2,547,625 |
| c) Contributions on salaries | 016 | 2,003,052 | 733,900 | 2,638,471 | 932,779 |
| 4 Depreciation | 017 | 2,029,176 | 747,076 | 2,556,303 | 870,629 |
| 5 Other costs | 018 | 1,755,570 | 648,524 | 1,554,417 | 511,350 |
| 6 Value adjustments (ADP 020+021) | 019 | 0 | 0 | 0 | 0 |
| a) fixed assets other than financial assets | 020 | 0 | 0 | 0 | 0 |
| b) current assets other than financial assets | 021 | 0 | 0 | 0 | 0 |
| 7 Provisions (ADP 023 to 028) | 022 | 0 | 0 | 0 | 0 |
| a) Provisions for pensions, termination benefits and similar obligations | 023 | 0 | 0 | 0 | 0 |
| b) Provisions for tax liabilities | 024 | 0 | 0 | 0 | 0 |
| c) Provisions for ongoing legal cases | 025 | 0 | 0 | 0 | 0 |
| d) Provisions for renewal of natural resources | 026 | 0 | 0 | 0 | 0 |
| e) Provisions for warranty obligations | 027 | 0 | 0 | 0 | 0 |
| f) Other provisions | 028 | 0 | 0 | 0 | 0 |
| 8 Other operating expenses | 029 | 0 | 0 | 0 | 0 |
| III FINANCIAL INCOME (ADP 031 to 040) | 030 | 1,913,238 | 78,046 | 1,760,337 | 181,478 |
| 1 Income from investments in holdings (shares) of undertakings within the Group | 031 | 1,650,000 | 0 | 1,300,000 | 0 |
| 2 Income from investments in holdings (shares) of companies linked by virtue of participating interests 3 Income from other long-term financial investment and loans granted to |
032 033 |
0 0 |
0 0 |
0 0 |
0 0 |
| undertakings within the Group | |||||
| 4 Other interest income from operations with undertakings within the Group | 034 | 0 | 0 | 0 | 0 |
| 5 Exchange rate differences and other financial income from operations with undertakings within the Group |
035 | 2,146 | 0 | 390 | 390 |
| 6 Income from other long-term financial investments and loans | 036 | 0 | 0 | 0 | 0 |
| 7 Other interest income | 037 | 72,693 | 49,571 | 204,919 | 126,101 |
| 8 Exchange rate differences and other financial income | 038 | 188,399 | 28,475 | 255,028 | 54,987 |
| 9 Unrealised gains (income) from financial assets | 039 | 0 | 0 | 0 | 0 |
| 10 Other financial income | 040 | 0 | 0 | 0 | 0 |
| IV FINANCIAL EXPENSES (ADP 042 to 048) | 041 | 430,402 | 202,914 | 1,101,842 | 345,447 |
| 1 Interest expenses and similar expenses with undertakings within the Group | 042 | 0 | 0 | 0 | 0 |
| 2 Exchange rate differences and other expenses from operations with undertakings within the Group |
043 | 10,044 | 0 | 21,614 | 17,161 |
| 3 Interest expenses and similar expenses | 044 | 252,845 | 99,423 | 447,449 | 285,158 |
| 4 Exchange rate differences and other expenses | 045 | 146,682 | 103,491 | 632,779 | 43,128 |
| 5 Unrealised losses (expenses) from financial assets | 046 | 0 | 0 | 0 | 0 |
| 6 Value adjustments of financial assets (net) | 047 | 0 | 0 | 0 | 0 |
| 7 Other financial expenses | 048 | 20,831 | 0 | 0 | 0 |
| V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS | 049 | 0 | 0 | 0 | 0 |
| VI SHARE IN PROFIT FROM JOINT VENTURES | 050 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|
| VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF PARTICIPATING INTEREST | 051 | 0 | 0 | 0 | 0 |
| VIII SHARE IN LOSS OF JOINT VENTURES | 052 | 0 | 0 | 0 | 0 |
| IX TOTAL INCOME (ADP 001+030+049 +050) | 053 | 84,886,812 | 34,626,438 | 118,362,513 | 50,991,516 |
| X TOTAL EXPENDITURE (ADP 007+041+051 + 052) | 054 | 82,170,390 | 34,671,218 | 111,756,553 | 49,787,916 |
| XI PRE-TAX PROFIT OR LOSS (ADP 053-054) | 055 | 2,716,422 | -44,780 | 6,605,960 | 1,203,600 |
| 1 Pre-tax profit (ADP 053-054) | 056 | 2,716,422 | 0 | 6,605,960 | 1,203,600 |
| 2 Pre-tax loss (ADP 054-053) | 057 | 0 | -44,780 | 0 | 0 |
| XII INCOME TAX | 058 | 300,017 | 0 | 627,412 | 100,000 |
| XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059) | 059 | 2,416,405 | -44,780 | 5,978,548 | 1,103,600 |
| 1 Profit for the period (ADP 055-059) | 060 | 2,416,405 | 0 | 5,978,548 | 1,103,600 |
| 2 Loss for the period (ADP 059-055) | 061 | 0 | -44,780 | 0 | 0 |
| DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations) | |||||
| XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS (ADP 063-064) | 062 | 0 | 0 | 0 | 0 |
| 1 Pre-tax profit from discontinued operations | 063 | 0 | 0 | 0 | 0 |
| 2 Pre-tax loss on discontinued operations | 064 | 0 | 0 | 0 | 0 |
| XV INCOME TAX OF DISCONTINUED OPERATIONS | 065 | 0 | 0 | 0 | 0 |
| 1 Discontinued operations profit for the period (ADP 062-065) | 066 | 0 | 0 | 0 | 0 |
| 2 Discontinued operations loss for the period (ADP 065-062) | 067 | 0 | 0 | 0 | 0 |
| TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations) | |||||
| XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062) | 068 | 0 | 0 | 0 | 0 |
| 1 Pre-tax profit (ADP 068) | 069 | 0 | 0 | 0 | 0 |
| 2 Pre-tax loss (ADP 068) | 070 | 0 | 0 | 0 | 0 |
| XVII INCOME TAX (ADP 058+065) | 071 | 0 | 0 | 0 | 0 |
| XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071) | 072 | 0 | 0 | 0 | 0 |
| 1 Profit for the period (ADP 068-071) | 073 | 0 | 0 | 0 | 0 |
| 2 Loss for the period (ADP 071-068) | 074 | 0 | 0 | 0 | 0 |
| APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements) | |||||
| XIX PROFIT OR LOSS FOR THE PERIOD (ADP 076+077) | 075 | 0 | 0 | 0 | 0 |
| 1 Attributable to owners of the parent | 076 | 0 | 0 | 0 | 0 |
| 2 Attributable to minority (non-controlling) interest | 077 | 0 | 0 | 0 | 0 |
| STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS) | |||||
| I PROFIT OR LOSS FOR THE PERIOD | 078 | 2,416,405 | -44,780 | 5,978,547 | 1,103,600 |
| II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80+ 87) | 079 | 0 | 0 | 0 | 0 |
| III Items that will not be reclassified to profit or loss (ADP 081 to 085) | 080 | 0 | 0 | 0 | 0 |
| 1 Changes in revaluation reserves of fixed tangible and intangible assets | 081 | 0 | 0 | 0 | 0 |
| 2 Gains or losses from subsequent measurement of equity instruments at fair value through other comprehensive income |
082 | 0 | 0 | 0 | 0 |
| 3 Fair value changes of financial liabilities at fair value through statement of profit or loss, attributable to changes in their credit risk |
083 | 0 | 0 | 0 | 0 |
| 4 Actuarial gains/losses on the defined benefit obligation | 084 | 0 | 0 | 0 | 0 |
| 5 Other items that will not be reclassified | 085 | 0 | 0 | 0 | 0 |
| 6 Income tax relating to items that will not be reclassified | 086 | 0 | 0 | 0 | 0 |
| IV Items that may be reclassified to profit or loss (ADP 088 to 095) | 087 | 0 | 0 | 0 | 0 |
| 1 Exchange rate differences from translation of foreign operations | 088 | 0 | 0 | 0 | 0 |
| 2 Gains or losses from subsequent measurement of debt securities at fair value through other comprehensive income |
089 | 0 | 0 | 0 | 0 |
| 3 Profit or loss arising from effective cash flow hedging | 090 | 0 | 0 | 0 | 0 |
| 4 Profit or loss arising from effective hedge of a net investment in a foreign operation | 091 | 0 | 0 | 0 | 0 |
| 5 Share in other comprehensive income/loss of companies linked by virtue of participating interests |
092 | 0 | 0 | 0 | 0 |
| 6 Changes in fair value of the time value of option | 093 | 0 | 0 | 0 | 0 |
| 7 Changes in fair value of forward elements of forward contracts | 094 | 0 | 0 | 0 | 0 |
| 8 Other items that may be reclassified to profit or loss | 095 | 0 | 0 | 0 | 0 |
| 9 Income tax relating to items that may be reclassified to profit or loss | 096 | 0 | 0 | 0 | 0 |
| V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087- 086 - 096) | 097 | 0 | 0 | 0 | 0 |
| VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 078+097) | 098 | 2,416,405 | -44,780 | 5,978,547 | 1,103,600 |
| APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements) | |||||
| VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 100+101) | 099 | 0 | 0 | 0 | 0 |
| 1 Attributable to owners of the parent | 100 | 0 | 0 | 0 | 0 |
| 2 Attributable to minority (non-controlling) interest | 101 | 0 | 0 | 0 | 0 |
Span d.d. Balance sheet, as of 30.9.2025 in EUR, submitter: Span d.d.
| Item | AOP code | Last day of the preceding business year |
At the reporting date of the current period |
||
|---|---|---|---|---|---|
| 2 | 3 | 4 | |||
| A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID | 001 | 0 | 0 | ||
| B) FIXED ASSETS (ADP 003+010+020+031+036) | 002 | 30,957,492 | 30,157,905 | ||
| I INTANGIBLE ASSETS (ADP 004 to 009) | 003 | 7,881,408 | 7,303,416 | ||
| 1 Research and development | 004 | 1,742,199 | 1,284,913 | ||
| 2 Concessions, patents, licences, trademarks, software and other rights | 005 | 794,103 | 735,181 | ||
| 3 Goodwill | 006 | 3,902,202 | 3,902,202 | ||
| 4 Advances for the purchase of intangible assets | 007 | 0 | 0 | ||
| 5 Intangible assets in preparation | 008 | 119,565 | 138,802 | ||
| 6 Other intangible assets | 009 | 1,323,339 | 1,242,318 | ||
| II TANGIBLE ASSETS (ADP 011 to 019) | 010 | 9,369,409 | 8,874,988 | ||
| 1 Land | 011 | 2,359,528 | 2,359,528 | ||
| 2 Buildings | 012 | 4,835,835 | 4,195,327 | ||
| 3 Plant and equipment | 013 | 1,015,457 | 956,406 | ||
| 4 Tools, working inventory and transportation assets | 014 | 1,158,589 | 1,363,727 | ||
| 5 Biological assets | 015 | 0 | 0 | ||
| 6 Advances for the purchase of tangible assets | 016 | 0 | 0 | ||
| 7 Tangible assets in preparation | 017 | 0 | 0 | ||
| 8 Other tangible assets | 018 | 0 | 0 | ||
| 9 Investment property | 019 | 0 | 0 | ||
| III FIXED FINANCIAL ASSETS (ADP 021 to 030) | 020 | 12,773,058 | 13,673,295 | ||
| 1 Investments in holdings (shares) of undertakings within the Group | 021 | 12,440,707 | 13,190,707 | ||
| 2 Investments in other securities of undertakings within the Group | 022 | 0 | 0 | ||
| 3 Loans, deposits, etc. to undertakings within the Group | 023 | 0 | 0 | ||
| 4. Investments in holdings (shares) of companies linked by virtue of participating interests |
024 | 266,375 | 386,375 | ||
| 5 Investment in other securities of companies linked by virtue of participating interests |
025 | 0 | 0 | ||
| 6 Loans, deposits etc. to companies linked by virtue of participating interests | 026 | 0 | 30,237 | ||
| 7 Investments in securities | 027 | 0 | 0 | ||
| 8 Loans, deposits, etc. given | 028 | 44,000 | 44,000 | ||
| 9 Other investments accounted for using the equity method | 029 | 0 | 0 | ||
| 10 Other fixed financial assets | 030 | 21,976 | 21,976 | ||
| IV RECEIVABLES (ADP 032 to 035) | 031 | 509 | 509 | ||
| 1 Receivables from undertakings within the Group | 032 | 0 | 0 | ||
| 2 Receivables from companies linked by virtue of participating interests | 033 | 0 | 0 | ||
| 3 Customer receivables | 034 | 0 | 0 | ||
| 4 Other receivables | 035 | 509 | 509 | ||
| V DEFERRED TAX ASSETS | 036 | 933,108 | 305,697 | ||
| C) CURRENT ASSETS (ADP 038+046+053+063) | 037 | 26,084,870 | 40,204,832 | ||
| I INVENTORIES (ADP 039 to 045) | 038 | 276,790 | 261,176 | ||
| 1 Raw materials and consumables | 039 | 0 | 0 | ||
| 2 Work in progress | 040 | 0 | 0 | ||
| 3 Finished goods | 041 | 0 | 0 | ||
| 4 Merchandise | 042 | 276,790 | 261,176 | ||
| 5 Advances for inventories | 043 | 0 | 0 | ||
| 6 Fixed assets held for sale | 044 | 0 | 0 | ||
| 7 Biological assets | 045 | 0 | 0 | ||
| II RECEIVABLES (ADP 047 to 052) | 046 | 16,701,665 | 15,176,946 | ||
| 1 Receivables from undertakings within the Group | 047 | 627,543 | 557,425 | ||
| 2 Receivables from companies linked by virtue of participating interests | 048 | 0 | 0 | ||
| 3 Customer receivables | 049 | 15,615,982 | 13,958,908 | ||
| 4 Receivables from employees and members of the undertaking | 050 | 0 | 0 | ||
| 5 Receivables from government and other institutions | 051 | 167,579 | 292,332 | ||
| 6 Other receivables | 052 | 290,561 | 368,281 | ||
| III CURRENT FINANCIAL ASSETS (ADP 054 to 062) | 053 | 112,383 | 172,917 | ||
| 1 Investments in holdings (shares) of undertakings within the Group | 054 | 0 | 0 | ||
| 2 Investments in other securities of undertakings within the Group | 055 | 0 | 0 | ||
| 3 Loans, deposits, etc. to undertakings within the Group | 056 | 112,383 | 159,582 | ||
| 4 Investments in holdings (shares) of companies linked by virtue of participating interests |
057 | 0 | 0 | ||
| 5 Investment in other securities of companies linked by virtue of | 058 | 0 | 0 | ||
| participating interests 6 Loans, deposits etc. to companies linked by virtue of participating interests |
059 | 0 | 13,335 |
| 8 Loans, deposits, etc. given | 061 | 0 | 0 |
|---|---|---|---|
| 9 Other financial assets | 062 | 0 | 0 |
| IV CASH AT BANK AND IN HAND | 063 | 8,994,032 | 24,593,793 |
| D ) PREPAID EXPENSES AND ACCRUED INCOME | 064 | 3,991,624 | 6,789,556 |
| E) TOTAL ASSETS (ADP 001+002+037+064) | 065 | 61,033,986 | 77,152,293 |
| OFF-BALANCE SHEET ITEMS | 066 | 0 | 0 |
| LIABILITIES | |||
| A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089) | 067 | 29,840,432 | 33,986,080 |
| I INITIAL (SUBSCRIBED) CAPITAL | 068 | 3,920,000 | 3,920,000 |
| II CAPITAL RESERVES | 069 | 9,005,744 | 9,089,146 |
| III RESERVES FROM PROFIT (ADP 071+072-073+074+075) | 070 | 1,369,105 | 1,369,105 |
| 1 Legal reserves | 071 | 1,369,105 | 1,369,105 |
| 2 Reserves for treasury shares | 072 | 0 | 352,003 |
| 3 Treasury shares and holdings (deductible item) | 073 | 0 | -352,003 |
| 4 Statutory reserves | 074 | 0 | 0 |
| 5 Other reserves | 075 | 0 | 0 |
| IV REVALUATION RESERVES | 076 | 3,130,087 | 3,130,087 |
| V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) | 077 | 0 | 0 |
| 1 Financial assets at fair value through other comprehensive income (i.e. available for sale) |
078 | 0 | 0 |
| 2 Cash flow hedge - effective portion | 079 | 0 | 0 |
| 3 Hedge of a net investment in a foreign operation - effective portion | 080 | 0 | 0 |
| 4 Other fair value reserves | 081 | 0 | 0 |
| 5 Exchange differences arising from the translation of foreign operations | |||
| (consolidation) | 082 | 0 | 0 |
| VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-085) | 083 | 9,659,467 | 10,499,194 |
| 1 Retained profit | 084 | 9,659,467 | 10,499,194 |
| 2 Loss brought forward | 085 | 0 | 0 |
| VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088) | 086 | 2,756,029 | 5,978,548 |
| 1 Profit for the business year | 087 | 2,756,029 | 5,978,548 |
| 2 Loss for the business year | 088 | 0 | 0 |
| VIII MINORITY (NON-CONTROLLING) INTEREST | 089 | 0 | 0 |
| B) PROVISIONS (ADP 091 to 096) | 090 | 0 | 0 |
| 1 Provisions for pensions, termination benefits and similar obligations | 091 | 0 | 0 |
| 2 Provisions for tax liabilities | 092 | 0 | 0 |
| 3 Provisions for ongoing legal cases | 093 | 0 | 0 |
| 4 Provisions for renewal of natural resources | 094 | 0 | 0 |
| 5 Provisions for warranty obligations | 095 | 0 | 0 |
| 6 Other provisions | 096 | 0 | 0 |
| C) LONG-TERM LIABILITIES (ADP 098 to 108) | 097 | 2,376,673 | 26,627,139 |
| 1 Liabilities to undertakings within the Group | 098 | 0 | 0 |
| 2 Liabilities for loans, deposits, etc. of undertakings within the Group | 099 | 0 | 0 |
| 3 Liabilities to companies linked by virtue of participating interests | 100 | 0 | 0 |
| 4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests |
101 | 0 | 0 |
| 5 Liabilities for loans, deposits etc. | 102 | 0 | 0 |
| 6 Liabilities to banks and other financial institutions | 103 | 0 | 0 |
| 7 Liabilities for advance payments | 104 | 0 | 0 |
| 8 Liabilities to suppliers | 105 | 0 | 0 |
| 9 Liabilities for securities | 106 | 0 | 24,651,000 |
| 10 Other long-term liabilities | 107 | 1,542,048 | 1,141,514 |
| 11 Deferred tax liability | 108 | 834,625 | 834,625 |
| D) SHORT-TERM LIABILITIES (ADP 110 to 123) | 109 | 25,461,038 | 14,869,315 |
| 1 Liabilities to undertakings within the Group | 110 | 176,231 | 346,486 |
| 2 Liabilities for loans, deposits, etc. of undertakings within the Group | 111 | 0 | 1,590,343 |
| 3 Liabilities to companies linked by virtue of participating interests | 112 | 0 | 0 |
| 4 Liabilities for loans, deposits etc. of companies linked by virtue of | |||
| participating interests | 113 | 0 | 0 |
| 5 Liabilities for loans, deposits etc. | 114 | 0 | 0 |
| 6 Liabilities to banks and other financial institutions | 115 | 5,522,264 | 1,513,177 |
| 7 Liabilities for advance payments | 116 | 291,648 | 242,848 |
| 8 Liabilities to suppliers | 117 | 12,179,768 | 4,932,935 |
| 9 Liabilities for securities | 118 | 0 | 205,948 |
| 10 Liabilities to employees | 119 | 1,676,942 | 1,915,964 |
| 11 Taxes, contributions and similar liabilities | 120 | 1,665,443 | 1,195,165 |
| 12 Liabilities arising from the share in the result | 121 | 0 | 0 |
| 13 Liabilities arising from fixed assets held for sale | 122 | 0 | 0 |
| 14 Other short-term liabilities | 123 | 3,948,742 | 2,926,449 |
| E) ACCRUALS AND DEFERRED INCOME | 124 | 3,355,843 | 1,669,759 |
| F) TOTAL – LIABILITIES (ADP 067+090+097+109+124) | 125 | 61,033,986 | 77,152,293 |
| G) OFF-BALANCE SHEET ITEMS | 126 | 0 | 0 |
Span d.d. Statement of cash flows - indirect method for the period 1.1.2025 to 30.9.2025 in EUR, submitter: Span d.d.
| Item | AOP code |
Same period of the previous year |
Current period |
|---|---|---|---|
| 2 | 3 | 4 | |
| Cash flow from operating activities | |||
| 1 Pre-tax profit | 001 | 2,716,422 | 6,605,960 |
| 2 Adjustments (ADP 003 to 010): | 002 | 634,522 | 1,590,384 |
| a) Depreciation | 003 | 2,029,177 | 2,556,303 |
| b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets | 004 | -16,918 | 30,585 |
| c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets | 005 | 30,255 | 0 |
| d) Interest and dividend income | 006 | -1,722,693 | -1,504,919 |
| e) Interest expenses | 007 | 252,846 | 447,449 |
| f) Provisions | 008 | 0 | 0 |
| g) Exchange rate differences (unrealised) | 009 | 0 | 0 |
| h) Other adjustments for non-cash transactions and unrealised gains and losses | 010 | 61,855 | 60,966 |
| I Cash flow increase or decrease before changes in working capital (ADP 001+002) | 011 | 3,350,944 | 8,196,344 |
| 3 Changes in the working capital (ADP 013 to 016) | 012 | -5,852,119 | -9,162,338 |
| a) Increase or decrease in short-term liabilities | 013 | -6,177,015 | -6,339,613 |
| b) Increase or decrease in short-term receivables | 014 | 4,245,961 | 1,645,677 |
| c) Increase or decrease in inventories | 015 | 163,799 | 15,614 |
| d) Other increase or decrease in working capital | 016 | -4,084,864 | -4,484,016 |
| II Cash from operations (ADP 011+012) | 017 | -2,501,175 | -965,994 |
| 4 Interest paid | 018 | -227,962 | -229,974 |
| 5 Income tax paid | 019 | -198,272 | -192,612 |
| A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019) | 020 | -2,927,409 | -1,388,580 |
| Cash flow from investment activities | |||
| 1 Cash receipts from sales of fixed tangible and intangible assets | 021 | 21,301 | 28,337 |
| 2 Cash receipts from sales of financial instruments | 022 | 0 | 0 |
| 3 Interest received | 023 | 72,693 | 204,919 |
| 4 Dividends received | 024 | 1,650,000 | 1,300,000 |
| 5 Cash receipts from repayment of loans and deposits | 025 | 0 | 0 |
| 6 Other cash receipts from investment activities | 026 | 1,272,054 | 0 |
| III Total cash receipts from investment activities (ADP 021 to 026) | 027 | 3,016,048 | 1,533,256 |
| 1 Cash payments for the purchase of fixed tangible and intangible assets | 028 | -994,679 | -785,482 |
| 2 Cash payments for the acquisition of financial instruments | 029 | 0 | 0 |
| 3 Cash payments for loans and deposits for the period | 030 | 0 | 0 |
| 4 Acquisition of a subsidiary, net of cash acquired | 031 | -2,361,799 | -2,966,432 |
| 5 Other cash payments from investment activities | 032 | 0 | -120,000 |
| IV Total cash payments from investment activities (ADP 028 to 032) | 033 | -3,356,478 | -3,871,914 |
| B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033) | 034 | -340,430 | -2,338,658 |
| Cash flow from financing activities | |||
| 1 Cash receipts from the increase in initial (subscribed) capital | 035 | 0 | 0 |
| 2 Cash receipts from the issue of equity financial instruments and debt financial instruments | 036 | 0 | 24,651,000 |
| 3 Cash receipts from credit principals, loans and other borrowings | 037 | 12,450,000 | 8,119,729 |
| 4 Other cash receipts from financing activities | 038 | 155,317 | 0 |
| V Total cash receipts from financing activities (ADP 035 to 038) | 039 | 12,605,317 | 32,770,729 |
| 1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments |
040 | -8,065,929 | -10,621,914 |
| 2 Cash payments for dividends | 041 | -585,566 | -1,564,299 |
| 3 Cash payments for finance lease | 042 | 0 | 0 |
| 4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital | 043 | -470,109 | -268,601 |
| 5 Other cash payments from financing activities | 044 | -898,223 | -988,916 |
| VI Total cash payments from financing activities (ADP 040 to 044) | 045 | -10,019,827 | -13,443,730 |
| C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045) | 046 | 2,585,490 | 19,326,999 |
| 1 Unrealised exchange rate differences in respect of cash and cash equivalents | 047 | 0 | 0 |
| D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047) | 048 | -682,349 | 15,599,761 |
| E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 049 | 4,832,308 | 8,994,032 |
| F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (ADP 048+049) | 050 | 4,149,959 | 24,593,793 |
Span d.d.
Statement of changes in equity for the period from 1.1.2025 to 30.9.2025, in EUR
Attributable to owners of the parent
| Item | AOP code |
Initial (subscribed) capital |
Capital reserves |
Legal reserves | Reserves fortreasury shares |
Treasury shares and holdings (deductible item) |
Statutory reserves |
Otherreserves | Revaluation reserves |
Fair value of financial assets through other comprehensive income (available for sale) |
Cash flow hedge - effective portion |
Hedge of a net investment in a foreign operation - effective portion |
Other fair value reserves | Exchange rate differences from translation of foreign operations |
Retained profit /loss brought forward |
he Total attributable to owners of the parent |
Minority (non-controlling) interest |
Total capital and reserves |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 (3 to 6 - 7 + 8 to 17) | 19 | 20 (18+19) |
| Previous period | |||||||||||||||||||
| 1 Balance on the first day of the previous business year | 01 | 3,920,000 | 9,918,809 | 1,259,454 | 571,011 | 571,011 | 0 | 0 | 1,876,704 | 0 | 0 | 0 | 0 | 0 | 9,646,042 | 461,445 | 27,082,454 | 0 | 27,082,454 |
| 2 Changes in accounting policies | 02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 Correction of errors | 03 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 4Balanceonthefirstdayofthepreviousbusinessyear(restated)(ADP01to03) | 04 | 3,920,000 | 9,918,809 | 1,259,454 | 571,011 | 571,011 | 0 | 0 | 1,876,704 | 0 | 0 | 0 | 0 | 0 | 9,646,042 | 461,445 | 27,082,454 | 0 | 27,082,454 |
| 5 Profit/loss of the period | 05 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,756,029 | 2,756,029 | 0 | 2,756,029 |
| 6 Exchange rate differences from translation of foreign operations | 06 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 7Changesinrevaluationreservesoffixedtangibleandintangibleassets | 07 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,253,382 | 0 | 0 | 0 | 0 | 0 | 120,405 | 0 | 1,373,787 | 0 | 1,373,787 |
| 8 Gains or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale) | 08 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 9 Profit or loss arising from effective cash flow hedge | 09 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 10 Profit or loss arising from effective hedge of a net investment in a foreign operation | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 11 Share in other comprehensive income/loss of companies linked by virtue of participating interests | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 12 Actuarial gains/losses on the defined benefit obligation | 12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 13 Other changes in equity unrelated to owners | 13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 14 Tax on transactions recognised directly in equity | 13 | n | 0 | n | n | n | 0 | n | n | 0 | n | n | 0 | n | n | 0 | n | 0 | 0 |
| 14 tax on transactions recognised directly in equity 15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy | U | U | U | U | U | U | U | U | U | U | U | U | U | U | U | U | U | U | |
| settlement procedure or from the reinvestment of profit) | 15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 16Decreaseininitial(subscribed)capitalarisingfromthepre-bankruptcysettlementprocedure | 16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 17Decreaseininitial(subscribed)capitalarisingfromthereinvestmentofprofit | 17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 18 Redemption of treasury shares/holdings | 18 | 0 | 0 | 0 | 233,231 | 233,231 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 19 Payments from members/shareholders | 19 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 20 Payment of share in profit/dividend | 20 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -124,122 | -461,445 | -585,567 | 0 | -585,567 |
| 21 Other distributions and payments to members/shareholders | 21 | 0 | -913,065 | 109,652 | -804,242 | -804,242 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,142 | 0 | -786,271 | 0 | -786,271 |
| 22 Transfer to reserves according to the annual schedule | 22 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 23 Increase in reserves arising from the pre-bankruptcy settlement procedure | 23 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 24 Balance on the last day of the previous business year reporting period (ADP 04 to 23) | 24 | 3,920,000 | 9,005,744 | 1,369,106 | 0 | 0 | 0 | 0 | 3,130,086 | 0 | 0 | 0 | 0 | 0 | 9,659,467 | 2,756,029 | 29,840,432 | 0 | 29,840,432 |
| APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up fina | ancial state | ements in acco | ordance with th | he IFRS) | |||||||||||||||
| I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 06 to 14) | 25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,253,382 | 0 | 0 | 0 | 0 | 0 | 120,405 | 0 | 1,373,787 | 0 | 1,373,787 |
| II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 05+25) | 26 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,253,382 | 0 | 0 | 0 | 0 | 0 | 120,405 | 2,756,029 | 4,129,816 | 0 | 4,129,816 |
| III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY | 27 | 0 | -913,065 | 109,652 | -571,011 | -571,011 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -106,980 | -461,445 | -1,371,838 | 0 | -1,371,838 |
| (ADP 15 to 23) | 2. | 0 | 010,000 | 100,002 | 071,011 | 071,011 | Ü | 0 | 0 | Ü | 0 | 100,000 | 101,110 | 1,011,000 | 1,071,000 | ||||
| Current period | _ | _ | _ | ||||||||||||||||
| 1 Balance on the first day of the current business year | 28 | 3,920,000 | 9,005,744 | 1,369,106 | - | 0 | 0 | 0 | 3,130,086 | 0 | 0 | 0 | 0 | 0 | 9,659,467 | 2,756,029 | 29,840,432 | 0 | 29,840,432 |
| 2 Changes in accounting policies | 29 | 0 | 0 | 0 | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 Correction of errors | 30 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 4 Balance on the first day of the current business year (restated) (AOP 28 to 30) | 31 | 3,920,000 | 9,005,744 | 1,369,106 | 0 | 0 | 0 | 0 | 3,130,086 | 0 | 0 | 0 | 0 | 0 | 9,659,467 | 2,756,029 | 29,840,432 | 0 | 29,840,432 |
| 5 Profit/loss of the period | 32 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,978,548 | 5,978,548 | 0 | 5,978,548 |
| 6 Exchange rate differences from translation of foreign operations | 33 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 7 Changes in revaluation reserves of fixed tangible and intangible assets | 34 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 8 Gains or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale) | 35 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 9 Profit or loss arising from effective cash flow hedge | 36 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 10 Profit or loss arising from effective hedge of a net investment in a foreign operation | 37 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 11 Share in other comprehensive income/loss of companies linked by virtue of participating interests | 38 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 12 Actuarial gains/losses on the defined benefit obligation | 39 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 13 Other changes in equity unrelated to owners | 40 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 14 Tax on transactions recognised directly in equity | 41 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy | 42 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| settlement procedure or from the reinvestment of profit) | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | |||||
| 16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure | 43 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 17 Decrease in initial (subscribed) capital arising from the reinvestment of profit | 44 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 18 Redemption of treasury shares/holdings | 45 | 0 | 0 | 0 | 451,230 | 451,230 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 19 Payments from members/shareholders | 46 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 20 Payment of share in profit/dividend | 47 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,564,299 | 0 | -1,564,299 | 0 | -1,564,299 |
| 21 Other distributions and payments to members/shareholders | 48 | 0 | 83,402 | 0 | -99,227 | -99,227 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -352,003 | 0 | -268,601 | 0 | -268,601 |
| 22 Carryforward per annual plane | 49 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,756,029 | -2,756,029 | 0 | 0 | 0 |
| 23 Increase in reserves arising from the pre-bankruptcy settlement procedure | 50 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 24 Balance on the last day of the current business year reporting period (ADP 31 to 50) | 51 | 3,920,000 | 9,089,146 | 1,369,106 | 352,003 | 352,003 | 0 | 0 | 3,130,086 | 0 | 0 | 0 | 0 | 0 | 10,499,194 | 5,978,548 | 33,986,080 | 0 | 33,986,080 |
| APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up final | ements in acco | ordance with th | he IFRS) | ||||||||||||||||
| I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF TAX (ADP 33 to 41) | 52 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 32 to 52) | 53 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,978,548 | 5,978,548 | 0 | 5,978,548 |
| III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED DIRECTLY IN EQUITY |
4.1. Notes accompanying Financial Statements - (drawn up for quarterly reporting periods)
- Statement on responsibility for compiling a report in the observed period
Issuer name: Span d.d
Address: Koturaška cesta 47, 10000
Zagreb
OIB: 19680551758 MBS: 080192242
Reporting period: 1 January - 30 September 2025
Notes to the financial statements for quarterly reporting periods are included in the Unaudited Business Results of Span Group and Span d.d. for nine months of 2025, available on Zagreb Stock Exchange website.
Annual Report of Span Group and Span d.d. for year 2024 is available on Span d.d. website.
The accounting policies applied in the preparation of the financial statements for the reporting period are the same as in the most recent annual financial statements.
Span Group issued corporate guarantees in the amount of EUR 6,149 thousand (of which EUR 2,536 thousand for Span d.d.).
Average number of Span Group employees in the period from 1.1.2025. to 30.09.2025. was 884. The average number of employees of Span d.d. in the period from 1.1.2025. to 30.09.2025. was 775.
Deferred tax assets of Span Group as at 31 December 2024 amount to EUR 1,158 thousand, while for Span d.d. it amounts to EUR 933 thousand. In Span Group, in the reporting period, deferred tax assets have been decreased by EUR 852 thousand, while in Span d.d. deferred tax assets have been decreased by EUR 627 thousand. Decrease relates to the corporate income tax liability calculated on the result of the reporting period.
Span d.d. in the business year 2025 holds a majority stake in Span Kazahstan Ltd, Astana and Span Hellas SA, Athina. The amount of capital that Span d.d. holds in Span Kazahstan Ltd amounts to 85,72%, ie EUR 150 thousand. The amount of capital that Span d.d. holds in Span Hellas SA amounts to 90%, ie EUR 450 thousand.
Companies where Span d.d. has unlimited liability are: Span d.o.o. Ljubljana, Span IT Ltd. London, Span USA Inc. Chicago, Span LLC Baku, Span GmbH Munich, LLC Span Kiev, Span Swiss AG in Liquidation Zurich, SPAN-IT SRL Chisinau, Cyber Security Incubator d.o.o. Zagreb, GT Tarkvara OU Tallinn, Span LLC Tbilisi, Ustanova Span Centar kibernetičke sigurnosti Zagreb, Span BV Amsterdam, Trilix d.o.o. Zagreb, SPAN IT s.r.o. Praha, SPAN POLSKA SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ Warsaw, Span Romania S.R.L. Bucharest.
Unaudited financial statements of Span d.d. and Span Group for the period from 1 January - 30 September 2025, are shown to be fair and truthful in accordance with International Financial Reporting Standards which have been consistently applied in relation to previous years.
All materially significant transactions were accordingly recorded in the accounting records, which were the basis of the financial statements. They give a truthful and complete overview of assets and obligations, the financial position and business activities of the Span d.d. and Span Group.
Nikola Dujmović President of the Management Board