While Brøndby football club may be making a move up the Superliga standings and has improved its finances, the club has still announced a loss for the 2013 financial year.

The club’s financial statement released today showed a loss of 39.6 million kroner and while it’s a far cry from last year’s disastrous financial year, the management isn’t satisfied.

“2013 was a tough year for Brøndby IF and the club was close to shutting,” Jesper Jørgensen, the CEO of Brøndby, said in a press release.

“We have emerged from the darkness and have gone from cleaning up to optimism. It requires equal part patience and determination to reach the next level, where the club not only gets results on the pitch, but financially too.”

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But the club seems to be heading in the right direction after posting a 266.6 million kroner loss in 2012. Furthermore, the club can be pleased that equity increased from 59.9 million kroner in 2012 to 233.6 million kroner last year, while net turnover fell slightly.

The club expects a similar financial result next year, provided that the club finishes in the top half of the Superliga at the end of this season and remains in the top six at the halfway stage of next season.

The club also expects to find a new main sponsor and has set aside 12 million kroner for transfers this summer.