Faq

Bookkeeping is the process of recording and organizing all financial transactions in a business. It includes everything from income and expenses to debt and assets.

A bookkeeper ensures that all your financial transactions are accurately recorded and reported. This is crucial for complying with the law, optimizing your tax payments, and supporting strategic business decisions.

VAT (Value Added Tax) is a tax imposed on goods and services. We handle all aspects of VAT registration and reporting, ensuring you comply with all relevant deadlines and legislation.

Yes, we offer payroll administration as part of our bookkeeping services. We can assist with calculating wages, reporting to relevant authorities, and managing other related tasks.

If errors are discovered, we will correct them and ensure that your accounting once again matches actual transactions and complies with applicable laws.

Yes, we offer fully digital bookkeeping and cloud-based solutions that make it easy for you to access your accounts anywhere and anytime.

Our pricing depends on the size of your business and the complexity of the services you need. Contact us for a tailored quote based on your specific requirements.

In Denmark, there are various types of business entities, each with its advantages and disadvantages, suited for different needs and situations. Here & an overview of the most common forms of business:

1. Sole Proprietorship (Personlig virksomhed)

Advantages:

- Easy and inexpensive to establish.
- No capital requirements.
- Full control and freedom over the business.

Disadvantages:

- Personally liable for all business debts and obligations.
- Limited tax planning flexibility.

2. General Partnership (I/S)

Advantages:

- Easy to establish between two or more persons.
- No capital requirements.

Disadvantages:

- Partners are personally and jointly liable for business obligations.
- Requires a solid internal agreement to avoid conflicts.

3. Private Limited Company (ApS)

Advantages:

- Limited liability (only the invested capital at risk).
- Professional image.
- Flexibility in tax planning.

Disadvantages:

- Requirement of a minimum capital of DKK 20,000.
- More administrative requirements and costs.
- Public accounting obligations.

4. Public Limited Company (A/S)

Advantages:

- Limited liability.
- Ability to attract investments through the sale of shares.

3. Private Limited Company (ApS)

- High credibility and prestige.

Disadvantages:

- Requires a minimum capital of DKK 400,000.
- Extensive accounting and reporting requirements.
- Public accounting obligations.

5. Limited Partnership (K/S)

Advantages:

- Combination of personal and limited liability.
- Flexibility in ownership structure.

Disadvantages:

- The complexity of the structure can be challenging to manage.
- Solidarity liability for the general partners who are personally liable.

In Denmark, businesses must report and pay VAT depending on their revenue and registration with the Danish Tax Agency. Below are the most common VAT reporting periods:

1. Monthly VAT reporting:

For businesses with an annual revenue exceeding 50 million DKK.
VAT must be reported and paid no later than the 25th of the month following the month in which the VAT was collected.

2. Quarterly VAT reporting:

This is the standard for most small and medium-sized businesses.
VAT must be reported and paid no later than the 1st of the third month after the quarter in which the VAT was collected (e.g., no later than June 1st for the first quarter).

3. Semi-annual VAT reporting:

For businesses with an annual revenue below 5 million DKK.
VAT must be reported and paid no later than September 1st for the first half of the year and March 1st for the second half.

These deadlines and periods are general guidelines, and it is essential for each business to ensure compliance with the specific requirements applicable to their VAT registration and settlement.
It is recommended to consult the Danish Tax Agency or a professional advisor to obtain the most accurate and relevant information for your business.

In Denmark, a business can deduct various expenses considered necessary and reasonable for its operations. Below are some of the typical deductible expenses:

1. Employee expenses:

- Salaries, bonuses, and other compensation.
- Contributions to social security and pension schemes.
- Expenses related to employee training and development.

2. Office expenses:

- Rent for business premises.
- Utilities such as electricity, water, and heating.
- Office supplies and minor equipment.

3. Transportation expenses:

- Costs related to business travel, including the use of a private car for business purposes (using the standard rate).
- Public transportation costs for business trips.
- Rental or leasing of business vehicles.

4. Advertising and marketing expenses:

- Costs of advertising in various media, including print, online, and TV.
- Marketing and promotional materials.
- Expenses for hosting or participating in trade fairs and marketing events.

5. Professional services:

- Fees for legal, accounting, and other professional services directly related to business operations.

6. Insurance expenses:

- Premiums for business-related insurance, such as liability, property, and other business insurance.

7. Depreciation:

- Depreciation of assets such as buildings, machinery, and equipment used in the business.

8. Interest expenses:

- Interest on business loans and credit lines.

9. Repairs and maintenance:

- Costs of repairing and maintaining business property and equipment that do not increase value or significantly extend lifespan.

10. Home office expenses:

- Please contact us.

Each of these expenses must be properly documented with invoices, receipts, and other relevant documentation to be accepted by the Danish tax authorities. It is also essential to ensure that the expenses are exclusively for business purposes and not for personal use. If an expense relates to both business and personal use, only the business portion can be deducted.

When running a sole proprietorship in Denmark, the owner does not receive a salary in the same way as an employee in a company. Instead, the owner withdraws the business's profits as personal income. Here’s how it typically works:

1. Personal income:

- The owner of a sole proprietorship is considered self-employed, and all income from the business is treated as personal income.
- After all business expenses have been deducted from the company’s revenue, the remaining profit is what the owner can withdraw as income.

2. Taxes and contributions:

- This income is subject to personal income tax, and the owner is responsible for reporting and paying the tax.
- The owner must also contribute to public health insurance and possibly pay the labor market contribution (AM-bidrag).

3. Preliminary tax assessment and annual tax return:

- The owner must ensure that the preliminary tax assessment with the Danish Tax Agency is updated to reflect the expected business income to avoid underpayment of taxes.
- Each year, the owner must submit an annual tax return where all business income and deductions are accurately reported.

4. Withdrawal of funds:

- In practice, the owner can withdraw money from the business as "private withdrawals," but it is important to keep business and personal finances separate to avoid tax and accounting issues.
- It is recommended to have a separate business account to facilitate tracking of business income and expenses.

Since the owner and the business are legally the same entity, it is also important to remember that the owner is personally liable for all business debts and obligations.

To start a business in Denmark, follow these steps:

1. Choose a business structure:

- Decide which type of business you want to establish (e.g., sole proprietorship, partnership, private limited company, or public limited company).

2. Name and CVR number:

- Find a unique name for your business and register it along with the business with the Danish Business Authority to obtain a CVR number.

3. Bank account:

- Open a business bank account. Some business structures, such as private limited companies (ApS) and public limited companies (A/S), require start-up capital (e.g., DKK 20,000 for ApS and DKK 400,000 for A/S).

4. Registration:

- Use virk.dk to register your business. Here, you can also register your business for VAT if necessary and register employees if you plan to hire staff.

5. Bookkeeping:

- Ensure that you establish a bookkeeping system, either manually or using bookkeeping software, to keep track of the business’s finances.

6. Taxes and VAT:

- Be aware of tax obligations, including the reporting and payment of VAT and taxes.

7. Insurance:

- Consider which insurances are necessary to protect your business and its operations.

8. Permits:

- Depending on your business type and industry, it may be necessary to apply for specific permits or approvals.

It is recommended to consult an accountant or lawyer to ensure that all legal and financial aspects are handled correctly.

In Denmark, you can choose from several different accounting programs to manage your business finances. Here are some of the most popular options:

1. Dinero

- Known for its user-friendliness, suitable for small businesses and sole proprietorships.
- Offers automatic bookkeeping via bank integration.

2. Billy

- A simple and intuitive online accounting platform that also caters to freelancers and small businesses.

3. Visma e-conomic

- A comprehensive solution that offers everything from accounting and bookkeeping to invoicing and payroll administration.

4. SAP Business One

- A more advanced solution for medium and large businesses that require detailed reporting and customization.

5. Microsoft Dynamics NAV (now Business Central)

- A solution for medium and large businesses that offers comprehensive functionality in financial management, supply chain management, and customer management.

These programs vary in scope, price, and specific features, so it is important to choose one that fits your business needs and budget. Each of these programs offers different levels of support and integration, which can be crucial for your daily operations and long-term planning.

Yes, a business owner in Denmark can deduct travel expenses when using their private car for business purposes. Here’s how it works:

Travel deduction:

- You can deduct travel expenses per kilometer driven. The rates for the travel deduction are set by the state and change from year to year. For the first 20,000 km in a year, the rate is higher, and thereafter a lower rate is applied.

Documentation:

- It is important to keep a logbook where you meticulously record all business-related trips. The logbook must include the date, the purpose of the trip, as well as the start and end destinations.
- It is your responsibility as a business owner to be able to document that the trip was for business purposes.

Deductible travel:

- Only travel that directly relates to the business’s operations is deductible. This includes, for example, meetings with clients, visits to suppliers, or the transportation of goods.
- Travel between home and the business is considered private travel and is generally not deductible.

Procedure:

- When completing your annual tax return or the company’s tax return, you must state the total number of business kilometers as well as the rate per kilometer to calculate the total deduction.
- You must retain your logbook and any other documentation of the travel in case of a tax audit.

It is also possible to use a company car, where the taxation depends on the car’s value and usage. However, this has different tax consequences and requires a different handling.

It is recommended to consult an accountant or bookkeeper to ensure that you handle the deductions correctly and comply with all rules and documentation requirements.

To operate a private limited company (ApS) in Denmark, you must adhere to a number of legal and accounting regulations to ensure responsible management and transparency. Here are some of the key rules:

1. Capital Requirement:

- An ApS must have a minimum capital of DKK 20,000.
- The capital must be paid in upon the company's establishment and can be used for the company's operations.

2. Registration:

- The company must be registered with the Danish Business Authority and have a CVR number.
- This requires the submission of founding documents, articles of association, and information about directors and other key personnel.

3. Management and Board:

- An ApS must have at least one director, and it may have a board of directors, depending on the size of the company and its articles of association.
- The director must not be under bankruptcy restrictions.

4. Accounting Obligations:

- ApS companies are required to submit an annual report to the Danish Business Authority each year.
- The annual report must include an income statement, a balance sheet, and a management report. The accounts must comply with the requirements of the Danish Financial Statements Act.

5. Auditing:

- Depending on the company's size and revenue, it may be required that an ApS has its annual report audited by a state-authorized or registered auditor. There are certain exceptions for small companies.

6. Tax Liability:

- An ApS is an independent taxable entity.
- This means that the company must pay corporate tax on its profits. Corporate tax in Denmark is typically 22%.

7. Liability:

- In an ApS, the owners (shareholders) are only financially liable up to the amount they have invested in the company.
- Their personal assets are therefore protected from the company's creditors.

8. Liquidation:

- If an ApS is to be closed, it must be done in accordance with the rules in the Companies Act, which may involve a formal liquidation process.

These rules must be strictly followed to avoid legal and financial complications. It is recommended to consult a lawyer or accountant specializing in corporate law to ensure that all requirements are correctly met.

When you run a sole proprietorship in Denmark, there are several rules and obligations that you need to be aware of. Here are the key rules:

1. Registration and CVR number:

- You must register your business with the Danish Business Authority and obtain a CVR number.
- This is necessary to carry out business activities, invoice customers, open a business account, and much more.

2. Taxes and VAT:

- As the owner of a sole proprietorship, you are responsible for reporting and paying taxes and VAT yourself.
- If your revenue exceeds the VAT threshold, which is DKK 50,000 per year, you must register your business for VAT and settle VAT.

3. Bookkeeping obligations:

- You are required to maintain accounts of your business’s financial transactions.
- This is necessary to document the business’s financial status and for accurate tax calculation.

4. Personal liability:

- As the owner of a sole proprietorship, you are personally and unlimitedly liable for the business’s debts.
- This means that your personal assets could be at risk if the business encounters financial difficulties.

5. Insurance:

- Although it is not mandatory to have insurance, it is wise to consider business insurance that can cover liability, loss of business assets, and other business risks.

6. Employer obligations:

- If you employ staff, you become an employer with all the associated obligations, including reporting and paying taxes and social contributions for your employees.

7. Reporting to public authorities:

- You must continuously report and pay taxes and VAT via the SKAT website.
- It is important to meet all reporting deadlines to avoid fines.

It is recommended to seek advice from an accountant or another financial advisor to ensure that you correctly meet all accounting and regulatory requirements.

Operating a personally owned small business (PMV) in Denmark entails a number of rules similar to those for a sole proprietorship, as both are single-person enterprises. Here are the fundamental rules that apply to a PMV:

1. Registration and CVR number:

- You must register your business with the Danish Business Authority to obtain a CVR number.
- This number is necessary to operate the business, invoice customers, enter into official agreements, and more.

2. Taxes and VAT:

- As the owner of a PMV, you are responsible for handling the reporting and payment of taxes and VAT yourself.
- If your business’s revenue exceeds the VAT threshold of DKK 50,000 per year, you must register the business for VAT and report it periodically.

3. Bookkeeping obligations:

- You are required to maintain records of the business’s financial transactions, including income, expenses, assets, and liabilities.

4. Personal liability:

- As a PMV owner, you are personally and unlimitedly liable for the business’s debts.
- This means that your personal assets may be at risk if the business is unable to pay its obligations.

5. Insurance:

- It is not mandatory to have business insurance, but it is recommended to cover relevant risks such as liability, property, and operational loss.

6. Reporting to public authorities:

- You must continuously report and pay taxes and VAT via the SKAT website and meet deadlines to avoid fines.

It is recommended to seek professional advice from an accountant or financial advisor to ensure that you comply with all rules and obligations correctly and effectively.

Hiring employees in Denmark entails a number of legal and administrative obligations for the employer. Here are some of the most important rules and obligations you need to be aware of as an employer:

1. Employment contracts:

- It is mandatory to prepare written employment contracts for all employees if the employment lasts more than one month and the working hours exceed 8 hours per week.
- The contract must include details about the job description, terms of employment, salary, working hours, vacation, notice periods, and other relevant aspects.

2. Salary payments and tax reporting:

- You must ensure correct salary payments and report as well as pay taxes, labor market contributions, and other levies to the Danish Tax Agency via the eIndkomst system.

3. Working environment:

- Employers must ensure a healthy and safe working environment in accordance with the Working Environment Act.
- This includes risk assessments, prevention of workplace accidents, provision of necessary safety equipment, and training employees in safety procedures.

4. Vacation and sickness:

- Employers must manage vacation and sick leave in accordance with the Holiday Act and the rules regarding sickness benefits.
- Employees are entitled to paid vacation and, in some cases, sickness benefits from the employer.

5. Insurance:

- Certain insurances are mandatory, such as work injury insurance, which covers employees in the event of workplace accidents and occupational illnesses.
- It may also be advisable to take out other relevant insurances, such as liability insurance.

6. Collective agreements and employment conditions:

- If your company is covered by a collective agreement, you must adhere to the terms agreed upon by the labor market parties.
- Even if you are not covered by an agreement, you should be aware of the general conditions in the industry.

7. Pension scheme:

- It is often beneficial or required to set up a pension scheme for your employees, especially if you are covered by an agreement that mandates it.

8. Reporting upon termination of employment:

- When an employee leaves, you must report this to the relevant authorities and ensure the correct settlement of any remaining vacation pay, pension, etc.

It is recommended to seek advice from an HR specialist or lawyer to ensure that all legal requirements and best practices are correctly followed.

B-tax is a type of tax in Denmark that is paid by self-employed business operators and freelancers who do not have their tax automatically deducted by an employer, as is the case with A-tax for employees. B-tax is the method by which self employed individuals and freelancers pay their income tax and social contributions.

Once you are registered for B-tax, you will receive a preliminary tax assessment from the Danish Tax Agency that shows your expected annual income and the calculated tax based on this. Based on the preliminary tax assessment, you must pay your tax in installments throughout the year, typically 10 times annually, with June and December being payment-free months. Payments are normally due on the 20th of each month.

It is important to keep the Danish Tax Agency updated on any changes in your income, as this can affect the amount of your B-tax payments and help avoid both underpayment and overpayment of tax.

How is B-tax calculated?

B-tax in Denmark is calculated based on an expected annual income, which the self-employed reports to the Danish Tax Agency via the preliminary tax assessment. Here is how B-tax is calculated:

1. Report expected income:

- As a self-employed individual, you must report your expected income for the upcoming year to the Danish Tax Agency.
- This is done via the preliminary tax assessment, which you can access on the Danish Tax Agency’s website.

2. Tax calculation:

- Based on the information you report, the Danish Tax Agency calculates your expected tax liability for the year.
- The calculation takes into account your deductions and the progressive tax rate.

3. Preliminary tax assessment:

- The result of the calculation is reflected in your preliminary tax assessment, where you can see how much you need to pay in B-tax each month.
- The preliminary tax assessment is updated annually, and it is important that you continuously update it if there are any changes in your income.

4. Payment periods:

- B-tax is typically paid in 10 installments throughout the year, with June and December usually being payment-free months.

5. Adjustment:

- If your income changes during the year, you can adjust your preliminary tax assessment to avoid paying too much or too little in tax.
- The adjustment will affect the amount of the subsequent B-tax payments.

It is important to be aware that errors in reporting can lead to either overpayment or underpayment of tax, which may result in a tax balance due or a tax refund at the end of the year.
For more precise calculations and advice on your specific situation, it is recommended to consult an accountant or tax advisor.

As a self-employed individual in Denmark, there are several types of insurance you should consider to protect both your personal finances and your business. Here are some of the most important insurances:

1. Business Liability Insurance:

- Covers you if you are held liable for damages caused to third parties in connection with your business activities.

2. Business Insurance:

- Covers damages to the company's property, inventory, and goods.
- May include coverage for theft, fire, water damage, and other unforeseen events.

3. Professional Liability Insurance:

- Important if your business offers advice or other services where mistakes can have significant financial consequences for your clients.

4. Work Injury Insurance:

- Mandatory if you have employees.
- Covers work-related injuries and illnesses among your employees.

5. Health Insurance:

- Although Denmark has a public healthcare system, private health insurance can provide faster access to treatment, which may be crucial for a self-employed person who relies on their ability to work.

6. Income Insurance:

- Covers loss of income if you become seriously ill or suffer an accident and are unable to work.

7. Life Insurance:

- Can be important, especially if you have a family that is financially dependent on your income.

8. Pension Savings:

- Self-employed individuals are not covered by an employer pension scheme, so it is important to arrange your own pension savings.

The choice of insurances depends on your specific type of business, your financial situation, and your personal circumstances. It may be a good idea to consult an insurance advisor who can help assess your needs and find the insurance policies that best protect you and your business.

The tax burden in Denmark is among the highest in the world, and this is due to several factors:

1. Welfare state:

- Denmark is a welfare state, where taxes finance a wide range of public services and infrastructure, including healthcare, education, elder care, and childcare.

2. Social security:

- Taxes contribute to extensive social security schemes that protect citizens from economic insecurity due to illness, unemployment, and old age.

3. Redistribution:

- The Danish tax system aims to redistribute income and promote economic equality. Higher incomes pay proportionally more tax, which helps finance benefits for those with lower incomes.

4. Education and healthcare:

- Free access to education and healthcare is a central part of Danish society, and it is financed through taxes.

5. Environmental and energy initiatives:

- Taxes are also used to finance green initiatives and infrastructure projects that support Denmark's environmental sustainability agenda.

These extensive services and the high degree of social security are some of the reasons why many Danes view the high taxes as an investment in the common good and in maintaining a high quality of life.

For calculating your net salary after tax in Denmark, you can follow these steps:

1. Find your gross salary:

- Start with your monthly gross salary, which is your income before deductions.

2. Deductions:

- Subtract the personal allowance and other standard deductions. This includes, among other things, the basic personal allowance and the employment deduction.

3. Calculate tax:

- Apply the relevant tax rates to the income after deductions. In Denmark, this includes state tax, municipal tax, and health contributions.
- The tax rate varies depending on your income and the municipality in which you reside.

4. Special contributions:

- Also remember to deduct the labor market contribution (AM contribution), which is 8% of your gross salary before deductions.

5. Net salary:

- The result, after all taxes and contributions have been deducted from your gross salary, is your net salary.

For a more precise calculation, you can use an online salary calculator or contact SKAT, the Danish tax administration, which can provide detailed information based on your specific situation. These calculators take into account the latest tax rates and current rules for deductions.

To save on taxes as a sole proprietorship in Denmark, you can consider the following strategies:

1. Deductions:

- Take advantage of all relevant tax deductions, such as mileage deductions if you use your own car for business purposes, home office deductions if you work from home, and deductions for necessary expenses like telephone, internet, and professional literature.

2. Pension Contributions:

- Contributing to a pension scheme not only secures your financial future but can also provide tax benefits, as these contributions are tax-deductible.

3. VAT Management:

- Manage VAT correctly by reporting and paying it on time as well as deducting VAT on expenses where possible.

4. Investments:

- Invest in necessary equipment or upgrades that can be deducted in your accounts. This can reduce your taxable income.

5. Bookkeeping Assistance:

- Consider obtaining professional help for your bookkeeping. A good bookkeeper or accountant can help identify additional deductions you might have overlooked and ensure that your accounts are accurate and optimized for tax purposes.

6. Tax Planning:

- Engage in ongoing tax planning to understand how different decisions affect your tax burden. This might involve strategically timing major purchases or income.

7. Regular Reviews:

- Regularly review your tax and financial situation to adjust to changes in legislation or your personal and business circumstances.

8. Tax-Efficient Business Structures:

- Although you may start as a sole proprietorship, there can be tax advantages in converting your business to a private limited company (ApS), where you can benefit from limited personal liability and potentially more favorable tax conditions.

These strategies require careful consideration and sometimes professional advice, but they can lead to significant tax savings for your sole proprietorship.

Dividend tax is the tax that must be paid on the dividends that a company distributes to its shareholders or owners. A dividend is a portion of the company's post-tax profit that is distributed to the owners. Here is a basic explanation of how dividends are taxed and distributed in Denmark:

How are dividends taxed?

1. Corporate tax:

- First, the company pays corporate tax on its profit. The corporate tax rate in Denmark is typically 22%.

2. Dividend tax for shareholders/owners:

- Dividends distributed to shareholders or owners are taxed further. The tax is automatically withheld (withholding tax) by the company before the dividend is paid out.

- For Danish tax authorities, the following typically applies:

- 27% tax on dividends up to a certain threshold (threshold for lower dividend tax).
- 42% tax on dividends above this threshold.

- For foreign shareholders, the tax may vary depending on double taxation agreements between Denmark and the respective country.

How are dividends distributed?

1. Approval at the general meeting:

- Dividends must be approved by the company's general meeting. The decision on dividends includes the total amount to be paid out and when it will be distributed.

2. Calculate dividend per share:

- Once the total dividend amount is approved, the dividend per share is calculated based on the number of shares.

3. Payment and tax deduction:

- The company automatically deducts the tax (27% or 42%) from the dividend before it is paid to each shareholder.
- The remaining amount is paid into the shareholders' bank accounts.

Administrative processes:

- Reporting to the tax authorities:

- The company must report the dividend distributions and the associated tax to the Danish Tax Agency.

- Documentation:

- The shareholders receive a statement of the dividend received and the tax paid, which can be used for their personal tax return.

Handling dividends requires precise bookkeeping and an understanding of both accounting and tax legislation. It is often a good idea to seek advice from an accountant or tax advisor to ensure that everything is handled correctly.

Hourly rates charged by companies can vary significantly depending on the industry, the type of service, and the geographical area. Here is an overview of typical hourly rates in various industries:

The Consulting Industry

• Management Consultants: Prices can range from 800 to 3,000 DKK per hour, depending on the consultant's experience and specialization.
• IT Consultants: Hourly rates typically range between 600 and 2,000 DKK, depending on the complexity of the project and the consultant's technical expertise.

The Legal Sector

• Lawyers: Prices can vary considerably, typically between 1,200 and 3,500 DKK per hour. Specialized lawyers in areas such as intellectual property rights or mergers and acquisitions may charge higher rates.
• Legal Consulting for Businesses: Fixed-price arrangements or subscription models are also common, where companies pay a monthly or annual fee for ongoing advice.

The Healthcare Sector

• Private Practice Doctors and Specialists: Consultation fees often range from 500 to 1,500 DKK per consultation.
• Psychologists and Therapists: Hourly rates from 600 to 1,200 DKK.

The Construction and Engineering Sector

• Architects and Engineers: Hourly rates from 700 to 1,500 DKK. Large projects can also be billed at fixed prices or as a percentage of the construction costs.
• Tradespeople such as Electricians and Carpenters: Typical hourly rates range between 300 and 500 DKK.

The Advertising and Marketing Sector

• Advertising Agencies: Often project-based pricing, which can vary greatly depending on the scope of the campaign and media placement. Small projects start from 10,000 DKK and can go up to several million for large campaigns.
• Freelance Graphic Designers and Marketing Consultants: Hourly rates from 300 to 1,500 DKK.

The Technology Sector

• Software Development: Project-based prices often start from 50,000 DKK for small applications and can run into several million for extensive systems. Hourly rates for developers vary between 600 and 1,500 DKK.