v3.25.4

Employee Costs (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Disclosure of employee compensation costs [line items] |
Summary of Employee Cost |
(EUR’000) |  | 2025 |  |  | 2024 |  |  | 2023 |
Employee costs |  |  |  |  |  |  |  |  |
Wages and salaries |  |  | 227,118 |  |  |  | 173,474 |  |  |  | 170,278 |
Share-based payment |  |  | 116,171 |  |  |  | 95,512 |  |  |  | 66,660 |
Pensions (defined contribution plans) |  |  | 6,921 |  |  |  | 4,485 |  |  |  | 4,403 |
Social security costs |  |  | 21,134 |  |  |  | 15,003 |  |  |  | 12,877 |
Other employee costs |  |  | 5,221 |  |  |  | 4,061 |  |  |  | 4,238 |
Total employee costs |  |  | 376,565 |  |  |  | 292,535 |  |  |  | 258,456 |
Included in the profit or loss |  |  |  |  |  |  |  |  |
Cost of sales (1) |  |  | 20,474 |  |  |  | 16,487 |  |  |  | 15,748 |
Research and development expenses |  |  | 145,673 |  |  |  | 131,867 |  |  |  | 127,002 |
Selling, general and administrative expenses |  |  | 210,418 |  |  |  | 144,181 |  |  |  | 115,706 |
Total employee costs |  |  | 376,565 |  |  |  | 292,535 |  |  |  | 258,456 |
Average number of employees |  |  | 1,103 |  |  |  | 892 |  |  |  | 851 |
(1) Includes employee costs capitalized as part of inventories.
Key management personnel of entity or parent [member] |
Disclosure of employee compensation costs [line items] |
Summary of Employee Cost | Compensation to Key Management Personnel included in total employee costs is summarized below:
|  | Board of Directors (1) |  |  | Executive Board (2) |  |  | Non-executive Senior Management |
(EUR’000) |  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2025 |  |  | 2024 |  |  | 2023 |
Compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wages and salaries |  |  | 442 |  |  |  | 482 |  |  |  | 543 |  |  |  | 5,466 |  |  |  | 4,148 |  |  |  | 4,375 |  |  |  | 6,466 |  |  |  | 3,286 |  |  |  | 4,673 |
Share-based payment |  |  | 2,425 |  |  |  | 2,169 |  |  |  | 1,276 |  |  |  | 18,568 |  |  |  | 18,334 |  |  |  | 13,243 |  |  |  | 14,464 |  |  |  | 10,266 |  |  |  | 9,529 |
Pensions (defined contribution plans) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 73 |  |  |  | 57 |  |  |  | 54 |  |  |  | 136 |  |  |  | 98 |  |  |  | 122 |
Social security costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 598 |  |  |  | 118 |  |  |  | 103 |  |  |  | 316 |  |  |  | 52 |  |  |  | 45 |
Other employee cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 20 |  |  |  | 20 |  |  |  | 20 |  |  |  | 40 |  |  |  | 25 |  |  |  | 40 |
Total compensation |  |  | 2,867 |  |  |  | 2,651 |  |  |  | 1,819 |  |  |  | 24,725 |  |  |  | 22,677 |  |  |  | 17,795 |  |  |  | 21,422 |  |  |  | 13,727 |  |  |  | 14,409 |
(1) The Board of Directors comprised six persons in 2025, 2024 and 2023. (2) The Executive Board comprised four persons in 2025, 2024 and 2023.

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