Armorica Danmark ApS

Private limited companyCVR 40895493RoskildeActive

Armorica Danmark ApS is a private limited company, based in Roskilde, active in non-financial holding companies, founded in 2019. The company made a loss in both 2024 and 2025, most recently DKK 51.3m. With 16 employees, the company is about 16 times larger than the industry median. Equity grew to DKK 23.3m in 2025.

PDF report Compare

Key figures · financial year 2025

RevenueDKK 1.2bn−5.3% vs. 2024

Net profit−DKK 51.3m+40.3% vs. 2024

EquityDKK 23.3m+13,313.8% vs. 2024

Employees16latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

Gross profit fell 5% (2024 → 2025), to DKK 498.3m.
Revenue fell 5% (2024 → 2025), to DKK 1.2bn.
The loss got smaller: from DKK 86.1m to DKK 51.3m (2024 → 2025).
Equity rose 13,314% (2024 → 2025), to DKK 23.3m.

Employees

1 fewer employees than a year earlier: 16 (07/2026) against 17 (07/2025).

Management and owners, last 24 months

New in management: Carsten Ullits Olesen (director, 01/04/2026) and Charlotte Dreyer-Gershof (director, 01/08/2026).
Stepped down: Lars Møller Hansen (director, 01/04/2026).
New owners registered: IDVERDE Société par actions simplifiée á associé unique (30/12/2024) and Armorica Lux S.à.r.l. (30/12/2024).
No longer registered as owner: IDVERDE Société par actions simplifiée á associé unique (29/12/2024).

Registrations, last 24 months

23/12/2025: Share capital changed from 47,733 DKK to 400,000 DKK
30/12/2024: Share capital changed from 40,000 DKK to 47,733 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 2020–2025 · amounts in DKK thousand

Equity and net profit

EquityNet profit

Financial figures for Armorica Danmark ApS
	2020	2021	2022	2023	2024	2025	Change
Revenue	344,728	852,985	997,751	1,319,503	1,267,053	1,200,361	−5.3%
Gross profit	121,082	333,110	375,776	548,373	526,171	498,276	−5.3%
Operating profit (EBIT)	−7,577	−15,731	−19,452	1,434	−39,520	−29,472	+25.4%
Profit before tax	−17,480	−42,336	−45,046	−52,672	−94,187	−58,090	+38.3%
Net profit	−18,372	−37,077	−41,539	−48,294	−86,055	−51,347	+40.3%
Total assets	461,842	553,534	783,940	781,182	699,611	811,379	+16%
Equity	−18,292	−55,202	−96,741	−145,035	174	23,340	+13,313.8%
Liabilities	457,163	582,690	855,480	889,610	671,562	767,783	+14.3%
Cash and cash equivalents	52,961	67,688	104,598	64,413	63,537	64,510	+1.5%
Average number of employees	215	582	664	838	829	760	−8.3%

Source: annual reports filed with the Danish Business Authority (XBRL). Group figures; 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

Compare with the industry (2,138 companies)

Gross profitMedian, the industry (2,138 companies)

Signals from the financial statements

calculated from the 2025 figures

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.
Low equity ratio
Equity makes up 3% of total assets in 2025.
How is this calculated?
Equity ÷ total assets is below 10% in the latest annual report. Banks, insurers and some industries naturally have a low ratio.

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 Armorica Danmark ApS
Financial year	Period	Published	Figures for	Documents
2025	01/01/2025 – 31/12/2025	01/07/2026	The group	PDF not statedXBRL
2024	01/01/2024 – 31/12/2024	02/07/2025	The group	PDF XBRL
2023	01/01/2023 – 31/12/2023	01/07/2024	The group	PDF XBRL
2022	01/01/2022 – 31/12/2022	10/07/2023	The group	PDF XBRL
2021	01/01/2021 – 31/12/2021	07/07/2022	The group	PDF XBRL
2020	28/10/2019 – 31/12/2020	09/07/2021	The group	PDF XBRL

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

Employees

Position in the industry

2,138 companies in the database

Comparison with the other companies in non-financial holding companies based on the latest financial year.

Gross profitDKK 498.3mNo. 38 of 2,093

Better than 98% of the companies in the industry

EquityDKK 23.3mNo. 1226 of 2,138

Better than 43% of the companies in the industry

Number of employees16No. 29 of 2,138

Better than 99% of the companies in the industry

Industry median: gross profit −DKK 31,805, net profit DKK 701k, equity DKK 32.1m, 1 employees.

Distribution of gross profit for 820 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
Group	Gross profit	Equity
Companies with fewer than 20 employees69,967 companies in the comparison	No. 73of 69,742 Better than 100%	No. 5,238of 69,964 Better than 93%
Same industry and fewer than 20 employees2,092 companies in the comparison	No. 28of 2,048 Better than 99%	No. 1,198of 2,092 Better than 43%
Companies that are between 5 and 14 years old33,688 companies in the comparison	No. 57of 33,588 Better than 100%	No. 2,071of 33,687 Better than 94%
All companies of type ApS66,508 companies in the comparison	No. 42of 66,379 Better than 100%	No. 3,784of 66,505 Better than 94%

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

Non-financial holding companies

Gross profit

Armorica Danmark ApSDKK 498.3m
Heartland A/SDKK 19.9bn
Andel A.M.B.A.DKK 5.6bn

Net profit

Armorica Danmark ApS−DKK 51.3m
Heartland A/SDKK 4.9bn
Andel A.M.B.A.−DKK 2.9bn

Equity

Armorica Danmark ApSDKK 23.3m
Heartland A/SDKK 39.2bn
Andel A.M.B.A.DKK 29.5bn

Employees

Armorica Danmark ApS16
Heartland A/S34
Andel A.M.B.A.28

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

IDVERDE Société par actions simplifiée á associé unique66.67%
Armorica Lux S.à.r.l.20%

Armorica Danmark ApS

Subsidiaries and ownership shares

Subsidiaries are shown only if they are in the database.

Management

7 active registrations

Executive management

Executive management at Armorica Danmark ApS
Name	Role	Appointed
Morten Hansen	CEO	09/12/2021
Carsten Ullits Olesen	Director	01/04/2026
Charlotte Dreyer-Gershof	Director	01/08/2026

Board of directors

Board of directors at Armorica Danmark ApS
Name	Role	Appointed
Jesper Nørholt	Board member	01/11/2022
Marc Gullhem Venier	Board member	01/11/2022
Morten Hansen	Board member	01/02/2023
Richard John Blumberger	Chair of the board	01/02/2023

Auditor: Pricewaterhousecoopers Statsautoriseret Revisionspartnerselskab
Founders: IDVERDE Société par actions simplifiée á associé unique

Former management (5)

Former management at Armorica Danmark ApS
Name	Role	Appointed	Resigned
Hervé Lancon	CEO	28/10/2019	09/12/2021
Morten Hansen	Board member	09/12/2021	11/12/2022
Lars Møller Hansen	Director	09/12/2021	01/04/2026
Jean-Noël Groleau	Chair of the board	09/12/2021	12/12/2022
Morten Hansen	Chair of the board	12/12/2022	31/01/2023

Signing rule: Selskabet tegnes af den administrerende direktør i forening med bestyrelsesformanden eller af den administrerende direktør i forening med to bestyrelsesmedlemmer.

Address and production units

2 active production units

Gammel Marbjergvej 11
4000 Roskilde

Roskilde Municipality · Postcode 4000

Other companies at the address (2)

Malmos A/SLandscape service activities
Brolægger Kompagniet ApSOther specialised construction activities n.e.c.

Production units
Production unit	Address	Industry	Employees	P number
ARMORICA DANMARK ApS	Gammel Marbjergvej 11, 4000 Roskilde	Non-financial holding companies	14	1025180174
Armorica Danmark ApS	Rosbjergvej 5G, Årslev, 8220 Brabrand	Non-financial holding companies	3	1030836983

Purpose

Selskabets formål er at besidde ejerandele i andre selskaber samt efter direktionens skøn dermed beslægtet virksomhed. Et af Selskabets formål er i sin virksomhed og drift at have en væsentlig positiv indvirkning på samfundet og miljøet som helhed.

The purpose is quoted from the register in Danish.

Changes year by year

32 registered events

32019

12020

62021

62022

52023

52024

22025

42026

20264 changesmanagement 3 · accounts 1

01/08ManagementCharlotte Dreyer-Gershof appointed director
01/07AccountsAnnual report for 2025 published
01/04ManagementCarsten Ullits Olesen appointed director
01/04ManagementLars Møller Hansen stepped down as director

20252 changescapital 1 · accounts 1

23/12CapitalShare capital changed from 47,733 DKK to 400,000 DKK
02/07AccountsAnnual report for 2024 published

20245 changescapital 1 · ownership 3 · accounts 1

30/12CapitalShare capital changed from 40,000 DKK to 47,733 DKK
30/12OwnershipIDVERDE Société par actions simplifiée á associé unique registered as owner (66.67%)
30/12OwnershipArmorica Lux S.à.r.l. registered as owner (20%)
29/12OwnershipIDVERDE Société par actions simplifiée á associé unique is no longer registered as owner
01/07AccountsAnnual report for 2023 published

20235 changesaddress 1 · accounts 1 · management 3

13/09AddressMoved to Gammel Marbjergvej 11, 4000 Roskilde
10/07AccountsAnnual report for 2022 published
01/02ManagementMorten Hansen appointed board member
01/02ManagementRichard John Blumberger appointed chair of the board
31/01ManagementMorten Hansen stepped down as chair of the board

20226 changesmanagement 5 · accounts 1

12/12ManagementMorten Hansen appointed chair of the board
12/12ManagementJean-Noël Groleau stepped down as chair of the board
11/12ManagementMorten Hansen stepped down as board member
01/11ManagementJesper Nørholt appointed board member
01/11ManagementMarc Gullhem Venier appointed board member
07/07AccountsAnnual report for 2021 published

20216 changesmanagement 5 · accounts 1

09/12ManagementMorten Hansen appointed board member
09/12ManagementMorten Hansen appointed ceo
09/12ManagementJean-Noël Groleau appointed chair of the board
09/12ManagementLars Møller Hansen appointed director
09/12ManagementHervé Lancon stepped down as ceo
09/07AccountsAnnual report for 2020 published

20201 changeaddress 1

15/04AddressMoved to Gammel Marbjergvej 11, 4000 Roskilde

20193 changesfounded 1 · management 1 · ownership 1

28/10FoundedRegistered as ARMORICA DANMARK ApS
28/10ManagementHervé Lancon appointed ceo
28/10OwnershipIDVERDE Société par actions simplifiée á associé unique registered as owner (100%)

Related companies

Same industry in Roskilde

Marine Holding ApS6 employees
Pka Invest 2008 ApS4 employees
ANT Capital ApS3 employees
Lcms Holding ApS3 employees
Henning Lambertsen Holding ApS2 employees
Karpet Holding ApS2 employees

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Same people in management

Dalgas A/Svia Carsten Ullits Olesen
idverde A/Svia Carsten Ullits Olesen
Blue Phoenix Denmark A/Svia Lars Møller Hansen
Malmos A/Svia Carsten Ullits Olesen
Solina Denmark A/Svia Carsten Ullits Olesen
LM Byg A/Svia Charlotte Dreyer-Gershof

Largest in the industry

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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.

View in CVR Report a correction