Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 05/2004 |  | Nicu Dogaru | MF | |||
| 01/2004 |  | Fróði Clementsen | DF |  | B36 Tórshavn | B36 |
| 01/2004 | | Knút Vesturtún | DF | |||
| 01/2004 | | Carl Høgnesen | MF | |||
| 01/2004 | | Brian Olsen | MF | |||
| 01/2004 | | Arnbjørn Hansen | FW | |||
| 01/2004 | | Sonni Petersen | FW |  | NSÍ Runavík | NSÍ Runavík |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/2004 | | Egil á Bø | DF | | B36 Tórshavn | B36 |
| 01/2004 | | Ronnie Samuelsen | MF | | B36 Tórshavn | B36 |
| 01/2004 |  | Marek Wierzbicki | MF |  | KÍ Klaksvík | KÍ |
| 01/2004 | | Magni á Lakjuni | FW |  | ÍF Fuglafjørður | ÍF |
| 01/2004 | | Teitur Joensen | FW | | ÍF Fuglafjørður | ÍF |