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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes

Schedule of income tax expenses


EUR’000		2023	2022	2021
Income tax expense
Tax expense attributable to profit is made up of:
Utilisation of non-recognised tax losses offset against Danish Tonnage Tax expense		—	—	(13)
Total Income tax expense		—	—	(13)

Schedule of reconciliation of deferred tax liabilities, net


EUR’000		2023	2022	2021
Reconciliation of deferred tax liabilities, net
Beginning of financial year		—	—	—
Acquisition of businesses		10,321	—	—
Exchange differences		(130)	—	—
31 December 2023		10,191	—	—

Schedule of reconciliation of income tax rate


Effective Tax Rate		2023			2022			2021
		EUR’000		%	EUR’000		%	EUR’000		%
Tax expense attributable to profit is made up of:
Accounting profit before income tax		11,498			35,541			7,450
Adjustment regarding tonnage taxed income		(11,498)			(35,541)			(7,450)
Accounting profit before income tax relating to Corporation Tax		—			—			—
Calculated tax at statutory tax rate in Denmark, 22%		—		22	—		22	—		22
Tax impact from:
Change in impairment of deferred tax assets in the year		—		22	—		22	(13)		22
Income tax expense, reported		—		—	—		—	(13)		—
Effective tax rate (%)		0.0	%		0.0	%		0.0	%