Tax on Profit/(Loss) for the Year and Deferred Tax (Tables)

12 Months Ended

Dec. 31, 2023

Deferred tax expense (income) [abstract]

Summary of Tax on Profit/Loss and Deferred Tax

	2023			2022			2021
	(EUR’000)
Tax on profit/(loss) for the year:
Current tax (expense)/income		(5,377	)		(3,723	)		367
Current tax, adjustments to prior years		3,904			(1,654	)		—
Deferred tax, movement for the year		(1,044	)		—			—
Deferred tax, adjustments to prior years		(4,786	)		—			—
		(7,303	)		(5,377	)		367
Tax for the year can be explained as follows:
Profit/(loss) before tax		(474,144	)		(577,817	)		(383,944	)
Tax at the Danish corporation tax rate of 22%		104,312			127,120			84,468
Tax effect of:
Non-deductible costs		(8,494	)		(17,094	)		(14,800	)
Additional tax deductions		9,077			13,720			17,117
Impact from associate		(4,047	)		(3,893	)		3,169
Prior year adjustments		(1,294	)		—			—
Other effects including effect of different tax rates		(882	)		(2,716	)		305
Deferred tax asset, not recognized		(105,975	)		(122,514	)		(89,892	)
Tax on profit/(loss) for the year		(7,303	)		(5,377	)		367
Effective tax rate		1.54	%		0.93	%		(0.10	)%
	2023			2022			2021
	(EUR’000)
Specification of Deferred Tax Assets/(Liabilities)
Tax deductible losses		521,697			433,174			313,011
Other temporary differences, assets		16,256			19,961			12,856
Deferred tax asset, not recognized		(537,953	)		(453,135	)		(325,867	)
Other temporary differences, liabilities		(5,830	)		—			—
Total Deferred Tax Assets/(Liabilities) at December 31		(5,830	)		—			—

At December 31, 2023,