Copenhagen, 1919: In a desperate situation, Karoline, unable to apply for widow's compensation due to her husband Peter's absence and lack of official death declaration, finds herself forced into a life of hardship. Living in poor conditions, she works as a seamstress alongside her friend Frida at a local factory. Soon after, Peter, who has suffered terrible injuries from the war, unexpectedly returns. By this time, Karoline has developed feelings for her boss Jørgen and is even pregnant, leaving her torn between her past with Peter and a seemingly brighter future with Jørgen. However, Jørgen's mother disapproves of their relationship, adding to Karoline's struggles.
Amidst her turmoil, an emotional Karoline attempts a dangerous abortion at the local baths but is halted by an elderly woman named Dagmar and a young girl named Erena. Dagmar assists Karoline with her injuries and encourages her to bring her baby to her sweets shop, where she secretly finds homes for unwanted infants. Later, Karoline unexpectedly encounters Peter working at a local circus, and they rekindle their life together. However, Peter's mental state is precarious, plagued by violent outbursts stemming from his trauma.
Eventually, Karoline gives birth to a daughter, but their plans for family life are hindered. Peter wishes to keep the baby, reflecting on his loss of fatherhood, but Karoline struggles to provide for her child and takes her to Dagmar's shop due to financial constraints. In a desperate move, she offers herself as a wet nurse and begins residing at the sweets shop. During her time there, Karoline bonds with Erena, occasionally nursing her, while also finding companionship with Dagmar, who seems to understand her feelings of despair and guilt. The two women, in their shared grief, turn to recreational ether use, further blurring their reality.
Problematic dynamics arise when Dagmar accepts an abandoned baby boy under her care while Frida grows suspicious of Dagmar's operations. One evening, things take a dark turn when Erena attempts to smother the baby boy after being rejected for breastfeeding. In a heart-stopping moment, Karoline intervenes just in time. The following day, Dagmar takes action that horrifies Karoline—she murders the baby boy, citing a desire to protect him from a cruel world. This revelation leads to a painfully intense confrontation between Karoline and Dagmar, where Dagmar admits to killing Karoline's daughter, claiming innocence cannot survive in their harsh reality. As their relationship spirals, Dagmar begins to manipulate Karoline further, heavily dosing her with ether.
Frida, alarmed by the unsettling turn of events, learns of Dagmar's dark services and witnesses Karoline in a compromised state. Accidents compound when Dagmar attempts to persuade Karoline to end the baby's life and a struggle ensues, resulting in tragedy. Later, a distraught mother returns for her baby, threatening police action, which plunges Dagmar into panic, leading Karoline to jump from a window in her attempt to escape the chaos.
Eventually, the police apprehend Dagmar, sending Erena to an orphanage while Karoline, having survived her fall, seeks solace with Peter at the traveling circus. Their reunion is filled with emotional depth as they support one another through Karoline's withdrawal from ether. While she conceals the harrowing truth of her child’s fate from Peter, Dagmar faces justice for her horrific acts in court, all while protecting Karoline from being implicated and justifying her own twisted rationale in the face of social neglect. In a poignant culmination of their story, Karoline later adopts Erena, seeking to forge a new beginning against the backdrop of their intertwined, painful histories.
