Baymard Institute ApS
Private limited companyCVR 38748890FarumActive
Baymard Institute ApS is a private limited company, based in Farum, active in other software publishing, founded in 2017. The company went from a profit in 2024 to a loss of DKK 641k in 2025. Equity fell to DKK 6.9m in 2025.
Key figures · financial year 2025
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- Gross profit fell 89% (2024 → 2025), to DKK 3.4m.
- Net profit went from a profit of DKK 10.5m to a loss of DKK 641k (2024 → 2025).
- Equity fell 87% (2024 → 2025), to DKK 6.9m.
Employees
- 3 more employees than a year earlier: 10 (07/2026) against 7 (07/2025).
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 thousandEquity and net profit
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change | |
|---|---|---|---|---|---|---|---|
| Revenue | not stated | not stated | not stated | not stated | 45,978 | not stated | – |
| Gross profit | 5,761 | 14,185 | 31,505 | 32,941 | 31,493 | 3,414 | −89.2% |
| Operating profit (EBIT) | 2,954 | 10,149 | 13,718 | 16,906 | 9,977 | −1,041 | −110.4% |
| Profit before tax | 3,166 | 10,576 | 14,039 | 16,934 | 13,496 | −859 | −106.4% |
| Net profit | 2,461 | 8,246 | 10,950 | 13,212 | 10,502 | −641 | −106.1% |
| Total assets | 5,634 | 16,531 | 30,822 | 53,801 | 79,930 | 10,719 | −86.6% |
| Equity | 5,213 | 9,225 | 17,501 | 28,713 | 52,859 | 6,924 | −86.9% |
| Liabilities | 385 | 6,395 | 10,427 | 20,251 | 20,418 | 3,161 | −84.5% |
| Cash and cash equivalents | 4,628 | 11,046 | 16,349 | 26,156 | 42,634 | 3,809 | −91.1% |
| Average number of employees | 4 | 4 | 29 | 19 | 21 | 24 | +14.3% |
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 2020, 2021, 2022, 2023, 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 figuresEquity fell sharply
Equity fell 87% from 2024 to 2025 (DKK 52.9m to DKK 6.9m).
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
6 financial years| Financial year | Period | Published | Figures for | Documents |
|---|---|---|---|---|
| 2025 | 01/01/2025 – 31/12/2025 | 06/07/2026 | The company | PDF not statedXBRL |
| 2024 | 01/01/2024 – 31/12/2024 | 20/06/2025 | The company | PDF not statedXBRL |
| 2023 | 01/01/2023 – 31/12/2023 | 17/04/2024 | The company | PDFXBRL |
| 2022 | 01/01/2022 – 31/12/2022 | 05/07/2023 | The company | PDFXBRL |
| 2021 | 01/01/2021 – 31/12/2021 | 24/03/2022 | The company | PDFXBRL |
| 2020 | 01/01/2020 – 31/12/2020 | 26/04/2021 | 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
499 companies in the databaseComparison with the other companies in other software publishing based on the latest financial year.
Industry median: gross profit DKK 2.9m, net profit DKK 42,450, equity DKK 1.1m, 4 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. 20,092of 69,742 Better than 71% | No. 11,554of 69,964 Better than 83% |
| Same industry and fewer than 20 employees406 companies in the comparison | No. 146of 404 Better than 64% | No. 60of 406 Better than 85% |
| Companies that are between 5 and 14 years old33,688 companies in the comparison | No. 11,886of 33,588 Better than 65% | No. 4,860of 33,687 Better than 86% |
| All companies of type ApS66,508 companies in the comparison | No. 19,964of 66,379 Better than 70% | No. 8,951of 66,505 Better than 87% |
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
Other software publishing- Baymard Institute ApSDKK 3.4m
- Milestone Systems A/SDKK 2bn
- Visma e-conomic A/SDKK 880.2m
- Baymard Institute ApS−DKK 641k
- Milestone Systems A/SDKK 183.4m
- Visma e-conomic A/SDKK 456.2m
- Baymard Institute ApSDKK 6.9m
- Milestone Systems A/SDKK 1.7bn
- Visma e-conomic A/SDKK 471.5m
- Baymard Institute ApS10
- Milestone Systems A/S531
- Visma e-conomic A/S456
Latest financial year per company. Choose up to three companies from the largest in the industry.
Owners and group
from the Public Ownership Register- Baymard Institute Holding ApS100%
Management
7 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Jamie Biering Holst | Director | 19/06/2017 |
| Kristian Kiehn Holst | Director | 19/06/2017 |
Board of directors
| Name | Role | Appointed |
|---|---|---|
| Kristian Kiehn Holst | Board member | 18/04/2024 |
| Parag Khandelwal | Chair of the board | 18/04/2024 |
| Richard Paul Byrne | Board member | 18/04/2024 |
| Paul James D'Arcy | Board member | 18/04/2024 |
| Cameron Joseph Ghorbani | Board member | 18/04/2024 |
- Founders
- Jamie Biering Holst, Kristian Kiehn Holst
Former management (3)
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| Jamie Biering Holst | Board member | 17/08/2022 | 18/04/2024 |
| Kristian Kiehn Holst | Chair of the board | 17/08/2022 | 17/04/2024 |
| Kevin Leig Bengtsson | Board member | 17/08/2022 | 18/04/2024 |
Signing rule: Selskabet tegnes af to bestyrelsesmedlemmer i forening, af en direktør og et bestyrelsesmedlem i forening eller af den samlede bestyrelse.
Address and production units
1 active production unitsKastanie Alle 41
3520 Farum
| Production unit | Address | Employees | P number |
|---|---|---|---|
| Baymard Institute ApS | Kastanie Alle 41, 3520 Farum | 11 | 1022584045 |
Purpose
Virksomhedens formål er at drive virksomhed med markedsanalyse samt enhver i forbindelse hermed stående virksomhed.
The purpose is quoted from the register in Danish.
Changes year by year
39 registered events20261 changeaccounts 1
- AccountsAnnual report for 2025 published
20251 changeaccounts 1
- AccountsAnnual report for 2024 published
202413 changesmanagement 8 · ownership 4 · accounts 1
- ManagementCameron Joseph Ghorbani appointed board member
- ManagementKristian Kiehn Holst appointed board member
- ManagementParag Khandelwal appointed chair of the board
- ManagementRichard Paul Byrne appointed board member
- ManagementPaul James D'Arcy appointed board member
- ManagementJamie Biering Holst stepped down as board member
- ManagementKevin Leig Bengtsson stepped down as board member
- OwnershipBaymard Institute Holding ApS registered as owner (100%)
- OwnershipBENGTSSON HOLDING ApS is no longer registered as owner
- OwnershipImmersive Holding ApS is no longer registered as owner
- OwnershipHarry Lime Holding ApS is no longer registered as owner
- ManagementKristian Kiehn Holst stepped down as chair of the board
- AccountsAnnual report for 2023 published
20231 changeaccounts 1
- AccountsAnnual report for 2022 published
202211 changesindustry 1 · capital 1 · management 3 · ownership 5 · accounts 1
- IndustryIndustry changed to Other software publishing (582900)
- CapitalShare capital changed from 50,000 DKK to 52,632 DKK
- ManagementJamie Biering Holst appointed board member
- ManagementKristian Kiehn Holst appointed chair of the board
- ManagementKevin Leig Bengtsson appointed board member
- OwnershipBENGTSSON HOLDING ApS registered as owner (5%)
- OwnershipImmersive Holding ApS registered as owner (33.33%)
- OwnershipHarry Lime Holding ApS registered as owner (33.33%)
- OwnershipImmersive Holding ApS is no longer registered as owner
- OwnershipHarry Lime Holding ApS is no longer registered as owner
- AccountsAnnual report for 2021 published
20212 changesaccounts 1 · address 1
- AccountsAnnual report for 2020 published
- AddressMoved to Kastanie Alle 41, 3520 Farum
20201 changeaddress 1
- AddressMoved to Daltoftevej 58, 2860 Søborg
20179 changesownership 6 · founded 1 · management 2
- OwnershipImmersive Holding ApS registered as owner (50%)
- OwnershipHarry Lime Holding ApS registered as owner (50%)
- OwnershipJamie Biering Holst is no longer registered as owner
- OwnershipKristian Kiehn Holst is no longer registered as owner
- FoundedRegistered as Baymard Institute ApS
- ManagementJamie Biering Holst appointed director
- ManagementKristian Kiehn Holst appointed director
- OwnershipJamie Biering Holst registered as owner (50%)
- OwnershipKristian Kiehn Holst registered as owner (50%)
Related companies
Same people in management
- Mercell Danmark A/Svia Kevin Leig Bengtsson
- MedicQuant ApSvia Kevin Leig Bengtsson
- Coatable A/Svia Kevin Leig Bengtsson
- Bengtsson Invest ApSvia Kevin Leig Bengtsson
- Bengtsson Holding ApSvia Kevin Leig Bengtsson
Largest in the industry
- Milestone Systems A/SDKK 2bn
- Visma e-conomic A/SDKK 880.2m
- Google Denmark ApSDKK 382m
- Continia Software A/SDKK 309.6m
- Boyum IT Solutions A/SDKK 208.2m
- Capture One A/SDKK 164.4m
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.