Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 08/2004 |  | Murilo Rego | ||||
| 08/2004 |  | Meinhardt Joensen | GK | |||
| 08/2004 | | Fabricio | MF | |||
| 07/2004 | | Anderson | FW | |||
| 05/2004 | | Trygvi Mortensen | MA | |||
| 05/2004 |  | Stanislav Stankov | FW | |||
| 03/2004 | | Herbert í Lon | DF | |||
| 01/2004 | | Fróði Jensen | GK | |||
| 01/2004 |  | Jacek Przybylski | GK |  | GÍ Gøta | GÍ |
| 01/2004 | | Alex Troleis | DF | |||
| 01/2004 | | Ovi Magnussen | DF | |||
| 01/2004 | | Kári Sigvardsen | DF |  | NSÍ Runavík | NSÍ Runavík |
| 01/2004 | | Ronnie Svalbard | MF | |||
| 01/2004 | | Mikkjal Thomassen | MF |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 05/2004 |  | Albert Sævarsson | GK |  | UMF Grindavík | Grindavík |
| 01/2004 | | Arnbjørn Danielsen | DF |  | B36 Tórshavn | B36 |
| 01/2004 | | Dánial Hansen | DF | | NSÍ Runavík | NSÍ Runavík |
| 01/2004 | | Hans Fróði Hansen | DF |  | Fram Reykjavík | Fram |
| 01/2004 | | Fróði Benjaminsen | MF | | Fram Reykjavík | Fram |
| 01/2004 | | Jann Ingi Petersen | MF |  | FC Amager | FCA |