Algiecel A/S
Public limited companyCVR 42394416Odense MActive
Algiecel A/S is a public limited company, based in Odense M, active in research and experimental development on natural sciences and engineering, founded in 2021. The company made a loss in both 2024 and 2025, most recently DKK 16.7m. With 18 employees, the company is about 4 times larger than the industry median. Equity fell to DKK 29.2m in 2025.
Key figures · financial year 2025
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- The loss grew: from DKK 12m to DKK 16.7m (2024 → 2025).
- Equity fell 36% (2024 → 2025), to DKK 29.2m.
Employees
- 1 fewer employees than a year earlier: 18 (07/2026) against 19 (07/2025).
Management and owners, last 24 months
- New in management: Susanne Palsten Buchardt (ceo, 10/04/2025), Henrik Busch-Larsen (deputy chair, 16/05/2025) and Tove Feld (chair of the board, 16/06/2026).
- Stepped down: Henrik Busch-Larsen (director, 10/04/2025), Henrik Busch-Larsen (board member, 15/05/2025) and Tina Moe (chair of the board, 16/06/2026).
- New owners registered: Hbl Invest ApS (31/10/2024).
- No longer registered as owner: Hbl Invest ApS (30/10/2024).
Registrations, last 24 months
- 30/07/2026: Share capital changed from 1,606,514 DKK to 1,611,552 DKK
- 01/01/2025: Industry changed to Research and experimental development on natural sciences and engineering (721000)
- 31/10/2024: Share capital changed from 1,499,174 DKK to 1,606,514 DKK
Calculated from the latest two annual reports in sequence and from registrations in CVR. A figure that is missing in either year gives no line, and we derive no figures.
Financial statements
Financial years 2021–2025 · amounts in DKK thousandEquity and net profit
| 2021 | 2022 | 2023 | 2024 | 2025 | Change | |
|---|---|---|---|---|---|---|
| Revenue | not stated | not stated | not stated | not stated | not stated | – |
| Gross profit | −1,331 | −6,189 | −3,490 | −2,835 | −10,789 | −280.6% |
| Operating profit (EBIT) | – | – | – | – | −22,613 | – |
| Profit before tax | −1,726 | −9,166 | −11,511 | −13,746 | −22,469 | −63.5% |
| Net profit | −1,283 | −6,697 | −11,089 | −12,002 | −16,686 | −39% |
| Total assets | 1,484 | 5,645 | 5,700 | 49,653 | 31,985 | −35.6% |
| Equity | 217 | −1,380 | −7,128 | 45,895 | 29,210 | −36.4% |
| Liabilities | 1,267 | 7,025 | 12,827 | 3,758 | 2,775 | −26.1% |
| Cash and cash equivalents | 310 | 2,854 | 3,563 | 46,205 | 24,451 | −47.1% |
| Average number of employees | 1 | 4 | 8 | 12 | 13 | +8.3% |
Source: annual reports filed with the Danish Business Authority (XBRL). Figures for the company (not the group); change is the latest year against the year before. “–” means the figure is not stated in the annual report. Revenue is not stated for 2021, 2022, 2023, 2024, 2025: smaller companies may omit it, and we do not derive it from other figures.
Download the figures as CSV · free with an account, amounts in whole DKK
Signals from the financial statements
calculated from the 2025 figuresLoss for 5 years in a row
Net result has been negative in 2021–2025.
How is this calculated?
Net result is negative in the two or more latest annual reports in a row.
Equity fell sharply
Equity fell 36% from 2024 to 2025 (DKK 45.9m to DKK 29.2m).
How is this calculated?
Equity has fallen by at least 30% from the previous annual report, and it was positive the year before.
The signals are rules applied to the figures in the annual reports. They are not an assessment or credit rating of the company. See Data and method.
Annual reports
5 financial years| Financial year | Period | Published | Figures for | Documents |
|---|---|---|---|---|
| 2025 | 01/01/2025 – 31/12/2025 | 24/06/2026 | The company | PDF not statedXBRL |
| 2024 | 01/01/2024 – 31/12/2024 | 28/05/2025 | The company | PDFXBRL |
| 2023 | 01/01/2023 – 31/12/2023 | 31/05/2024 | The company | PDFXBRL |
| 2022 | 01/01/2022 – 31/12/2022 | 04/05/2023 | The company | PDFXBRL |
| 2021 | 17/05/2021 – 31/12/2021 | 30/05/2022 | The company | PDFXBRL |
The figures from all the annual reports are shown on this page. The documents themselves (PDF and XBRL, the machine-readable edition) are downloaded with a Pro account: sign in or create a free account, and then choose Pro. XBRL is the edition the figures on the page are read from.
Employees
monthly figures from CVRPosition in the industry
431 companies in the databaseComparison with the other companies in research and experimental development on natural sciences and engineering based on the latest financial year.
Industry median: gross profit DKK 616k, net profit −DKK 892k, equity DKK 2m, 5 employees.
Compared with similar companies
size, age and company form| Group | Gross profit | Equity |
|---|---|---|
| Companies with fewer than 20 employees69,967 companies in the comparison | No. 69,650of 69,742 Better than 0% | No. 4,549of 69,964 Better than 93% |
| Same industry and fewer than 20 employees329 companies in the comparison | No. 308of 323 Better than 5% | No. 30of 329 Better than 91% |
| Companies that are between 5 and 14 years old33,688 companies in the comparison | No. 33,506of 33,588 Better than 0% | No. 1,773of 33,687 Better than 95% |
| All companies of type A/S18,025 companies in the comparison | No. 17,697of 17,786 Better than 1% | No. 4,993of 18,024 Better than 72% |
The rank is calculated among companies in the database with a figure for the latest financial year, and is shown only for groups of at least ten companies.
Compare with the industry
Research and experimental development on natural sciences and engineering- Algiecel A/S−DKK 10.8m
- Carlsberg A/SDKK 40.2bn
- Zealand Pharma A/SDKK 9.2bn
- Algiecel A/S−DKK 16.7m
- Carlsberg A/SDKK 7bn
- Zealand Pharma A/SDKK 6.5bn
- Algiecel A/SDKK 29.2m
- Carlsberg A/SDKK 30.7bn
- Zealand Pharma A/SDKK 14.8bn
- Algiecel A/S18
- Carlsberg A/S107
- Zealand Pharma A/S569
Latest financial year per company. Choose up to three companies from the largest in the industry.
Owners and group
from the Public Ownership Register- Danmarks Eksport- og Investeringsfond5%
- Aurelius Limited5%
- Hbl Invest ApS33.33%
Management
6 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Susanne Palsten Buchardt | CEO | 10/04/2025 |
Board of directors
| Name | Role | Appointed |
|---|---|---|
| Jeppe Høier | Board member | 30/07/2021 |
| Martin Lavesen | Board member | 09/01/2023 |
| Merete Lundbye Møller | Board member | 02/05/2023 |
| Henrik Busch-Larsen | Deputy chair | 16/05/2025 |
| Tove Feld | Chair of the board | 16/06/2026 |
- Founders
- Manila Invest ApS
Former management (5)
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| Martin Lavesen | Director | 17/05/2021 | 30/06/2021 |
| Martin Lavesen | Chair of the board | 30/06/2021 | 08/01/2023 |
| Henrik Busch-Larsen | Director | 30/06/2021 | 10/04/2025 |
| Henrik Busch-Larsen | Board member | 30/06/2021 | 15/05/2025 |
| Tina Moe | Chair of the board | 09/01/2023 | 16/06/2026 |
Signing rule: Selskabet tegnes af en direktør, af en direktør og bestyrelsesformanden i forening, eller af den samlede bestyrelse.
Address and production units
2 active production unitsHunderupvej 89
5230 Odense M
Odense Municipality · Postcode 5230
Other companies at the address (1)
- Hbl Invest ApSInvestment on own account
| Production unit | Address | Employees | P number |
|---|---|---|---|
| Algiecel Pilot | Gregersensvej 1, 2630 Taastrup | 17 | 1030017419 |
| Algiecel A/S | Hunderupvej 89, 5230 Odense M | 1 | 1027170907 |
Purpose
Selskabets formål er forskning, udvikling, produktion, fabrikation, handel og andet i forbindelse hermed beslægtet virksomhed efter selskabets skøn.
The purpose is quoted from the register in Danish.
Changes year by year
62 registered events20264 changescapital 1 · accounts 1 · management 2
- CapitalShare capital changed from 1,606,514 DKK to 1,611,552 DKK
- AccountsAnnual report for 2025 published
- ManagementTove Feld appointed chair of the board
- ManagementTina Moe stepped down as chair of the board
20256 changesaccounts 1 · management 4 · industry 1
- AccountsAnnual report for 2024 published
- ManagementHenrik Busch-Larsen appointed deputy chair
- ManagementHenrik Busch-Larsen stepped down as board member
- ManagementSusanne Palsten Buchardt appointed ceo
- ManagementHenrik Busch-Larsen stepped down as director
- IndustryIndustry changed to Research and experimental development on natural sciences and engineering (721000)
202417 changescapital 4 · ownership 9 · name 1 · address 2 · accounts 1
- CapitalShare capital changed from 1,499,174 DKK to 1,606,514 DKK
- OwnershipHBL INVEST ApS registered as owner (33.33%)
- OwnershipHBL INVEST ApS is no longer registered as owner
- CapitalShare capital changed from 1,472,735 DKK to 1,499,174 DKK
- NameName changed from Algiecel ApS to Algiecel A/S
- CapitalShare capital changed from 1,011,946 DKK to 1,472,735 DKK
- OwnershipAURELIUS LIMITED registered as owner (5%)
- OwnershipDanmarks Eksport- og Investeringsfond registered as owner (5%)
- OwnershipHBL INVEST ApS registered as owner (66.67%)
- OwnershipMANILA INVEST ApS is no longer registered as owner
- OwnershipAURELIUS LIMITED is no longer registered as owner
- OwnershipHBL INVEST ApS is no longer registered as owner
- AddressMoved to Hunderupvej 89, 5230 Odense M
- AccountsAnnual report for 2023 published
- CapitalShare capital changed from 961,946 DKK to 1,011,946 DKK
- OwnershipE4I Impact ApS is no longer registered as owner
- AddressMoved to Helgavej 26, 5230 Odense M
20239 changescapital 2 · ownership 2 · accounts 1 · management 4
- CapitalShare capital changed from 902,246 DKK to 961,946 DKK
- OwnershipAURELIUS LIMITED registered as owner (10%)
- OwnershipMan Trustee Jersey Limited as Trustee of the EW Davidson Settlement is no longer registered as owner
- AccountsAnnual report for 2022 published
- ManagementMerete Lundbye Møller appointed board member
- CapitalShare capital changed from 845,484 DKK to 902,246 DKK
- ManagementMartin Lavesen appointed board member
- ManagementTina Moe appointed chair of the board
- ManagementMartin Lavesen stepped down as chair of the board
20227 changescapital 2 · ownership 3 · accounts 1 · address 1
- CapitalShare capital changed from 725,000 DKK to 845,484 DKK
- OwnershipMan Trustee Jersey Limited as Trustee of the EW Davidson Settlement registered as owner (10%)
- AccountsAnnual report for 2021 published
- OwnershipE4I Impact ApS registered as owner (5%)
- OwnershipJeppe Høier is no longer registered as owner
- AddressMoved to Oslo Plads 2, 2100 København Ø
- CapitalShare capital changed from 712,500 DKK to 725,000 DKK
202119 changescapital 3 · management 6 · ownership 9 · founded 1
- CapitalShare capital changed from 662,500 DKK to 712,500 DKK
- ManagementJeppe Høier appointed board member
- OwnershipHBL INVEST ApS registered as owner (66.67%)
- OwnershipJeppe Høier registered as owner (5%)
- OwnershipHBL INVEST ApS is no longer registered as owner
- CapitalShare capital changed from 600,000 DKK to 662,500 DKK
- OwnershipHBL INVEST ApS registered as owner (90%)
- OwnershipMANILA INVEST ApS registered as owner (5%)
- OwnershipHBL INVEST ApS is no longer registered as owner
- CapitalShare capital changed from 50,000 DKK to 600,000 DKK
- ManagementHenrik Busch-Larsen appointed board member
- ManagementHenrik Busch-Larsen appointed director
- ManagementMartin Lavesen appointed chair of the board
- ManagementMartin Lavesen stepped down as director
- OwnershipHBL INVEST ApS registered as owner (100%)
- OwnershipMANILA INVEST ApS is no longer registered as owner
- FoundedRegistered as Algiecel ApS
- ManagementMartin Lavesen appointed director
- OwnershipMANILA INVEST ApS registered as owner (100%)
Related companies
Same industry in Odense
- Evosep ApS73 employees
- OnRobot A/S41 employees
- Alphalyse A/S41 employees
- Pentabase A/S39 employees
- QNTM Labs ApS37 employees
- IRD Fuel Cells A/S35 employees
Same people in management
- TV 2 Danmark A/Svia Merete Lundbye Møller
- NNE A/Svia Tina Moe
- Nexel A/Svia Tove Feld
- DLA Piper Denmark Advokatpartnerselskabvia Martin Lavesen
- Dhi A/Svia Tove Feld
- Harboes Bryggeri A/Svia Martin Lavesen
Largest in the industry
- Carlsberg A/SDKK 40.2bn
- Zealand Pharma A/SDKK 9.2bn
- Gubra A/SDKK 2.6bn
- Vestas Wind Systems A/SDKK 2.5bn
- Bang & Olufsen A/SDKK 1.4bn
- 3shape A/SDKK 1.3bn
Source and updates
The information comes from the Danish Central Business Register (Danish Business Authority) and from annual reports filed with the Danish Business Authority. Last synchronised 24/10/2026. The company is protected against advertising; contact details are not shown, and the data must not be used for marketing.