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ARGON 18 Europe ApS

Private limited companyCVR 38677470LyngeActive

ARGON 18 Europe ApS is a private limited company, based in Lynge, active in wholesale of bicycles, sports goods and pleasure boats, founded in 2017. Equity was negative at the end of 2025 (−DKK 62.7m). The company made a loss in both 2024 and 2025, most recently DKK 8.4m. With 20 employees, the company is about 4 times larger than the industry median.

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Key figures · financial year 2025

RevenueDKK 44.4m+12% vs. 2024
Net profit−DKK 8.4m+56% vs. 2024
Equity−DKK 62.7m−15.5% vs. 2024
Employees20latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Revenue rose 12% (2024 → 2025), to DKK 44.4m.
  • The loss got smaller: from DKK 19.2m to DKK 8.4m (2024 → 2025).

Employees

  • 6 more employees than a year earlier: 20 (07/2026) against 14 (07/2025).

Management and owners, last 24 months

  • New in management: Francois Bastien (board member, 11/11/2024) and Mark John Hewitt (director, 01/07/2025).
  • Stepped down: Jan Sørensen (board member, 19/12/2025), Jan Sørensen (director, 01/07/2025) and Martin LeSauteur (board member, 11/11/2024).

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 2020–2025 · amounts in DKK thousand

Equity and net profit

−DKK 70m−DKK 60m−DKK 50m−DKK 40m−DKK 30m−DKK 20m−DKK 10mDKK 0DKK 10m202020212022202320242025
EquityNet profit
Financial figures for ARGON 18 Europe ApS
202020212022202320242025Change
Revenue12,20318,01213,22828,28439,66744,411+12%
Gross profit−5,056−4,015−14,502−8,835−9,9741,430+114.3%
Operating profit (EBIT)−9,967−7,297−18,282−13,951−16,133−4,725+70.7%
Profit before tax−10,984−7,627−18,904−16,500−19,781−8,722+55.9%
Net profit−10,563−7,299−18,241−15,894−19,168−8,431+56%
Total assets13,5069,48042,14943,67638,30242,228+10.3%
Equity6,347−953−19,194−35,087−54,255−62,686−15.5%
Liabilities7,15910,43361,34378,76392,557103,824+12.2%
Cash and cash equivalents04401508907261,394+92%
Average number of employees9991413130%

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.

Download the figures as CSV · free with an account, amounts in whole DKK

−DKK 16m−DKK 14m−DKK 12m−DKK 10m−DKK 8m−DKK 6m−DKK 4m−DKK 2mDKK 0DKK 2mDKK 4m202020212022202320242025
Gross profitMedian, the industry (140 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Negative equity

    Equity was −DKK 62.7m at the end of 2025.

    How is this calculated?

    Equity in the latest annual report is below zero.

  • Loss for 6 years in a row

    Net result has been negative in 2020–2025.

    How is this calculated?

    Net result is negative in the two or more latest annual reports in a row.

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

6 financial years
Annual reports for ARGON 18 Europe ApS
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202502/07/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202415/04/2025The companyPDFXBRL
202301/01/2023 – 31/12/202316/05/2024The companyPDFXBRL
202201/01/2022 – 31/12/202225/05/2023The companyPDFXBRL
202101/01/2021 – 31/12/202117/05/2022The companyPDFXBRL
202001/01/2020 – 31/12/202010/06/2021The companyPDFXBRL

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 CVR
0510152008/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

140 companies in the database

Comparison with the other companies in wholesale of bicycles, sports goods and pleasure boats based on the latest financial year.

Gross profitDKK 1.4mNo. 96 of 140
Better than 32% of the companies in the industry
Equity−DKK 62.7mNo. 140 of 140
Better than 0% of the companies in the industry
Number of employees20No. 29 of 140
Better than 80% of the companies in the industry

Industry median: gross profit DKK 3.8m, net profit DKK 329k, equity DKK 3.3m, 5 employees.

DKK 100kDKK 567kDKK 3.2mDKK 18.3mDKK 58.1mHere
Distribution of gross profit for 137 companies in the industry (latest financial year, logarithmic scale). Amber bar: where this company sits.

Compared with similar companies

size, age and company form
Rank among similar companies
GroupGross profitEquity
Companies with 20–49 employees9,922 companies in the comparison
No. 9,349of 9,892
Better than 5%
No. 9,890of 9,922
Better than 0%
Same industry and 20–49 employees17 companies in the comparison
No. 17of 17
Better than 0%
No. 17of 17
Better than 0%
Companies that are between 5 and 14 years old33,688 companies in the comparison
No. 20,104of 33,588
Better than 40%
No. 33,627of 33,687
Better than 0%
All companies of type ApS66,508 companies in the comparison
No. 36,545of 66,379
Better than 45%
No. 66,446of 66,505
Better than 0%

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

Wholesale of bicycles, sports goods and pleasure boats
Gross profit
  1. ARGON 18 Europe ApSDKK 1.4m
  2. Oase Outdoors ApSDKK 103.6m
  3. Fairpoint Outdoors A/SDKK 98.8m
Net profit
  1. ARGON 18 Europe ApS−DKK 8.4m
  2. Oase Outdoors ApSDKK 18.5m
  3. Fairpoint Outdoors A/SDKK 13.4m
Equity
  1. ARGON 18 Europe ApS−DKK 62.7m
  2. Oase Outdoors ApSDKK 46.7m
  3. Fairpoint Outdoors A/SDKK 47.3m
Employees
  1. ARGON 18 Europe ApS20
  2. Oase Outdoors ApS75
  3. Fairpoint Outdoors A/S76

Latest financial year per company. Choose up to three companies from the largest in the industry.

Owners and group

from the Public Ownership Register
Owners
  • Cycles Argon-18 Inc.100%
ARGON 18 Europe ApS

Management

3 active registrations

Executive management

Executive management at ARGON 18 Europe ApS
NameRoleAppointed
Mark John HewittDirector01/07/2025

Board of directors

Board of directors at ARGON 18 Europe ApS
NameRoleAppointed
Henrik Lyngbye PedersenChair of the board31/05/2017
Francois BastienBoard member11/11/2024
Founders
Bregnerød Investeringsselskab ApS
Former management (8)
Former management at ARGON 18 Europe ApS
NameRoleAppointedResigned
Jan SørensenBoard member31/05/201719/12/2025
Peter Stefan Bengt BixeDirector31/05/201702/07/2018
Nils MacheelDirector02/07/201820/01/2020
Jan SørensenDirector20/01/202001/06/2020
Peter WainøDirector01/06/202004/08/2020
Jan SørensenDirector04/08/202001/07/2025
Martin LeSauteurBoard member13/01/202111/11/2024
René Étienne RacineBoard member13/01/202123/08/2021

Signing rule: Selskabet tegnes af en direktør i forening med et bestyrelsesmedlem eller af den samlede bestyrelse.

Address and production units

1 active production units

Vassingerødvej 147
3540 Lynge

Allerød Municipality · Postcode 3540

Other companies at the address (2)

Production units
Production unitAddressEmployeesP number
ARGON 18 Europe ApSVassingerødvej 147, 3540 Lynge211022484830

Purpose

Selskabets formål er at drive virksomhed med salg af varer og/eller ydelser relateret til sports- og fritidsaktiviteter samt andre aktiviteter, der efter bestyrelsens skøn har forbindelse hertil.

The purpose is quoted from the register in Danish.

Changes year by year

44 registered events
20261 changeaccounts 1
  • Annual report for 2025 published
20254 changesmanagement 3 · accounts 1
  • Jan Sørensen stepped down as board member
  • Mark John Hewitt appointed director
  • Jan Sørensen stepped down as director
  • Annual report for 2024 published
20243 changesmanagement 2 · accounts 1
  • Francois Bastien appointed board member
  • Martin LeSauteur stepped down as board member
  • Annual report for 2023 published
20231 changeaccounts 1
  • Annual report for 2022 published
20221 changeaccounts 1
  • Annual report for 2021 published
20215 changesmanagement 3 · accounts 1 · name 1
  • René Étienne Racine stepped down as board member
  • Annual report for 2020 published
  • Name changed from United Cycling ApS to ARGON 18 Europe ApS
  • Martin LeSauteur appointed board member
  • René Étienne Racine appointed board member
202012 changesownership 5 · capital 1 · management 6
  • CYCLES ARGON-18 Inc. registered as owner (100%)
  • BREGNERØD INVESTERINGSSELSKAB ApS is no longer registered as owner
  • Share capital changed from 1,100,000 DKK to 1,100,001 DKK
  • BREGNERØD INVESTERINGSSELSKAB ApS registered as owner (100%)
  • JSE CONSULTING & MANAGEMENT HOLDING ApS is no longer registered as owner
  • BREGNERØD INVESTERINGSSELSKAB ApS is no longer registered as owner
  • Jan Sørensen appointed director
  • Peter Wainø stepped down as director
  • Peter Wainø appointed director
  • Jan Sørensen stepped down as director
  • Jan Sørensen appointed director
  • Nils Macheel stepped down as director
20187 changesmanagement 2 · capital 2 · ownership 3
  • Nils Macheel appointed director
  • Peter Stefan Bengt Bixe stepped down as director
  • Share capital changed from 900,000 DKK to 1,100,000 DKK
  • Share capital changed from 500,000 DKK to 900,000 DKK
  • BREGNERØD INVESTERINGSSELSKAB ApS registered as owner (90%)
  • Peter Stefan Bengt Bixe is no longer registered as owner
  • BREGNERØD INVESTERINGSSELSKAB ApS is no longer registered as owner
201710 changesownership 5 · capital 1 · founded 1 · management 3
  • Peter Stefan Bengt Bixe registered as owner (5%)
  • BREGNERØD INVESTERINGSSELSKAB ApS registered as owner (90%)
  • JSE CONSULTING & MANAGEMENT HOLDING ApS registered as owner (5%)
  • BREGNERØD INVESTERINGSSELSKAB ApS is no longer registered as owner
  • Share capital changed from 499,999 DKK to 500,000 DKK
  • Registered as United Cycling ApS
  • Jan Sørensen appointed board member
  • Henrik Lyngbye Pedersen appointed chair of the board
  • Peter Stefan Bengt Bixe appointed director
  • BREGNERØD INVESTERINGSSELSKAB ApS registered as owner (100%)

Related companies

Same industry in Allerød

See all →

Same people in management

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.

View in CVRReport a correction