BullWall Denmark A/S
Public limited companyCVR 38878786København KActive
BullWall Denmark A/S is a public limited company, based in København K, active in other software publishing, founded in 2017. Net profit fell 73% from 2024 to 2025, ending at DKK 764k.
Key figures · financial year 2025
Gross profitDKK 6.3m−5.9% vs. 2024
Net profitDKK 764k−72.6% vs. 2024
EquityDKK 1.8m−11.5% vs. 2024
Employees2latest month from CVR
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- Gross profit fell 6% (2024 → 2025), to DKK 6.3m.
- Net profit fell 73% (2024 → 2025), to DKK 764k.
- Equity fell 12% (2024 → 2025), to DKK 1.8m.
Employees
- 1 fewer employees than a year earlier: 2 (07/2026) against 3 (07/2025).
Management and owners, last 24 months
- New in management: Frederik Martin Braun (ceo, 01/03/2025), Frederik Martin Braun (board member, 01/07/2025) and Frank Stensballe Vium (chair of the board, 01/07/2025) (+4).
- Stepped down: Jan Leon Lovmand (board member, 01/07/2025), Bo Gordon Vallentin (chair of the board, 01/07/2025) and Steen Michelsen Lomholt-Thomsen (board member, 01/11/2024) (+3).
Registrations, last 24 months
- 26/01/2026: Moved to Bredgade 33C, 1, 1260 København K
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 | not stated | not stated | – |
| Gross profit | 2,496 | 2,366 | 4,974 | 3,175 | 6,715 | 6,316 | −5.9% |
| Operating profit (EBIT) | −1,089 | −2,175 | 334 | 779 | 3,568 | 816 | −77.1% |
| Profit before tax | −1,091 | −2,176 | 312 | 684 | 3,574 | 979 | −72.6% |
| Net profit | −854 | −1,698 | 239 | 531 | 2,787 | 764 | −72.6% |
| Total assets | 8,019 | 4,943 | 7,284 | 5,336 | 6,035 | 6,941 | +15% |
| Equity | 188 | −1,510 | −1,271 | −739 | 2,048 | 1,812 | −11.5% |
| Liabilities | 7,831 | 6,453 | 8,555 | 6,075 | 3,987 | 5,126 | +28.6% |
| Cash and cash equivalents | 1,779 | 1,958 | 3,747 | 447 | 190 | 2,240 | +1,076.8% |
| Average number of employees | 6 | 5 | 4 | 4 | 5 | 7 | +40% |
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, 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
Annual reports
6 financial years| Financial year | Period | Published | Figures for | Documents |
|---|---|---|---|---|
| 2025 | 01/07/2024 – 30/06/2025 | 19/12/2025 | The company | PDF not statedXBRL |
| 2024 | 01/07/2023 – 30/06/2024 | 03/01/2025 | The company | PDFXBRL |
| 2023 | 01/07/2022 – 30/06/2023 | 18/12/2023 | The company | PDFXBRL |
| 2022 | 01/07/2021 – 30/06/2022 | 21/09/2022 | The company | PDFXBRL |
| 2021 | 01/07/2020 – 30/06/2021 | 11/08/2021 | The company | PDFXBRL |
| 2020 | 01/07/2019 – 30/06/2020 | 01/12/2020 | 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.
Gross profitDKK 6.3mNo. 176 of 494
Better than 65% of the companies in the industry
EquityDKK 1.8mNo. 220 of 499
Better than 56% of the companies in the industry
Number of employees2No. 185 of 499
Better than 63% of the companies in the industry
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. 10,015of 69,742 Better than 86% | No. 25,635of 69,964 Better than 63% |
| Same industry and fewer than 20 employees406 companies in the comparison | No. 92of 404 Better than 77% | No. 141of 406 Better than 65% |
| Companies that are between 5 and 14 years old33,688 companies in the comparison | No. 7,003of 33,588 Better than 79% | No. 11,437of 33,687 Better than 66% |
| All companies of type A/S18,025 companies in the comparison | No. 10,998of 17,786 Better than 38% | No. 14,775of 18,024 Better than 18% |
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 publishingGross profit
- BullWall Denmark A/SDKK 6.3m
- Milestone Systems A/SDKK 2bn
- Visma e-conomic A/SDKK 880.2m
Net profit
- BullWall Denmark A/SDKK 764k
- Milestone Systems A/SDKK 183.4m
- Visma e-conomic A/SDKK 456.2m
Equity
- BullWall Denmark A/SDKK 1.8m
- Milestone Systems A/SDKK 1.7bn
- Visma e-conomic A/SDKK 471.5m
Employees
- BullWall Denmark A/S2
- 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 RegisterOwners
BullWall Denmark A/S
Management
5 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Frederik Martin Braun | CEO | 01/03/2025 |
| Stefan Skov | Director | 01/10/2025 |
Board of directors
| Name | Role | Appointed |
|---|---|---|
| Frederik Martin Braun | Board member | 01/07/2025 |
| Frank Stensballe Vium | Chair of the board | 01/07/2025 |
| Christoffer Arthur Müller | Board member | 01/07/2025 |
- Founders
- BullWall Group A/S
Former management (21)
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| Michael Slipsager | Director | 14/08/2017 | 30/06/2023 |
| Jan Leon Lovmand | Director | 14/08/2017 | 25/10/2017 |
| Michael Slipsager | Board member | 25/10/2017 | 11/10/2020 |
| Jan Leon Lovmand | Chair of the board | 25/10/2017 | 24/08/2020 |
| Niels Holch Povlsen | Board member | 25/10/2017 | 11/10/2020 |
| Troels Ørting Jørgensen | Board member | 26/10/2018 | 24/08/2020 |
| Ketil Årdal | Board member | 26/10/2018 | 07/01/2022 |
| Jan Leon Lovmand | Board member | 25/08/2020 | 07/01/2022 |
| Troels Ørting Jørgensen | Chair of the board | 25/08/2020 | 07/01/2022 |
| Søren Elmelund Johansen From | Board member | 11/10/2020 | 07/01/2022 |
| Hans Christian Pape | Board member | 11/10/2020 | 07/01/2022 |
| Michael Slipsager | Board member | 07/01/2022 | 30/06/2023 |
| Christian Bamberger Bro | Chair of the board | 07/01/2022 | 21/02/2023 |
| Christoffer Arthur Müller | Board member | 07/01/2022 | 21/02/2023 |
| Jan Leon Lovmand | Board member | 21/02/2023 | 01/07/2025 |
| Bo Gordon Vallentin | Chair of the board | 21/02/2023 | 01/07/2025 |
| Jan Leon Lovmand | Director | 30/06/2023 | 01/01/2024 |
| Steen Michelsen Lomholt-Thomsen | Board member | 30/06/2023 | 01/11/2024 |
| Steen Michelsen Lomholt-Thomsen | CEO | 01/01/2024 | 01/11/2024 |
| Morten Gammelgård | CEO | 01/11/2024 | 01/03/2025 |
| Morten Gammelgård | Board member | 01/11/2024 | 01/07/2025 |
Signing rule: Selskabet tegnes af et bestyrelsesmedlem i forening med en direktør, eller af to bestyrelsesmedlemmer i forening eller af den samlede bestyrelse.
Address and production units
1 active production unitsBredgade 33C
1260 København K
København Municipality · Postcode 1260
Other companies at the address (2)
- BullWall Group A/SOther software publishing
- BullWall Holding ApSOffice administrative and support activities
| Production unit | Address | Employees | P number |
|---|---|---|---|
| BullWall Denmark A/S | Bredgade 33C, 1, 1260 København K | 2 | 1022774294 |
Purpose
Selskabets formål er at sælge sikkerhedssoftware inden for cyberkriminalitet samt hermed beslægtet virksomhed.
The purpose is quoted from the register in Danish.
Changes year by year
62 registered events102017
32018
12019
92020
12021
92022
112023
62024
112025
12026
20261 changeaddress 1
- AddressMoved to Bredgade 33C, 1, 1260 København K
202511 changesaccounts 2 · management 9
- AccountsAnnual report for 2025 published
- ManagementStefan Skov appointed director
- ManagementChristoffer Arthur Müller appointed board member
- ManagementFrank Stensballe Vium appointed chair of the board
- ManagementFrederik Martin Braun appointed board member
- ManagementMorten Gammelgård stepped down as board member
- ManagementJan Leon Lovmand stepped down as board member
- ManagementBo Gordon Vallentin stepped down as chair of the board
- ManagementFrederik Martin Braun appointed ceo
- ManagementMorten Gammelgård stepped down as ceo
- AccountsAnnual report for 2024 published
20246 changesmanagement 6
- ManagementMorten Gammelgård appointed board member
- ManagementMorten Gammelgård appointed ceo
- ManagementSteen Michelsen Lomholt-Thomsen stepped down as ceo
- ManagementSteen Michelsen Lomholt-Thomsen stepped down as board member
- ManagementSteen Michelsen Lomholt-Thomsen appointed ceo
- ManagementJan Leon Lovmand stepped down as director
202311 changesaccounts 1 · management 8 · name 1 · industry 1
- AccountsAnnual report for 2023 published
- ManagementJan Leon Lovmand appointed director
- ManagementSteen Michelsen Lomholt-Thomsen appointed board member
- ManagementMichael Slipsager stepped down as board member
- ManagementMichael Slipsager stepped down as director
- NameName changed from BULLWALL A/S to BullWall Denmark A/S
- ManagementJan Leon Lovmand appointed board member
- ManagementBo Gordon Vallentin appointed chair of the board
- ManagementChristoffer Arthur Müller stepped down as board member
- ManagementChristian Bamberger Bro stepped down as chair of the board
- IndustryIndustry changed to Other software publishing (582900)
20229 changesaccounts 1 · management 8
- AccountsAnnual report for 2022 published
- ManagementChristoffer Arthur Müller appointed board member
- ManagementMichael Slipsager appointed board member
- ManagementChristian Bamberger Bro appointed chair of the board
- ManagementHans Christian Pape stepped down as board member
- ManagementSøren Elmelund Johansen From stepped down as board member
- ManagementTroels Ørting Jørgensen stepped down as chair of the board
- ManagementJan Leon Lovmand stepped down as board member
- ManagementKetil Årdal stepped down as board member
20211 changeaccounts 1
- AccountsAnnual report for 2021 published
20209 changesaccounts 1 · management 8
- AccountsAnnual report for 2020 published
- ManagementHans Christian Pape appointed board member
- ManagementSøren Elmelund Johansen From appointed board member
- ManagementNiels Holch Povlsen stepped down as board member
- ManagementMichael Slipsager stepped down as board member
- ManagementTroels Ørting Jørgensen appointed chair of the board
- ManagementJan Leon Lovmand appointed board member
- ManagementTroels Ørting Jørgensen stepped down as board member
- ManagementJan Leon Lovmand stepped down as chair of the board
20191 changeaddress 1
- AddressMoved to Øster Snedevej 15B, st, 7120 Vejle Øst
20183 changesmanagement 2 · address 1
- ManagementTroels Ørting Jørgensen appointed board member
- ManagementKetil Årdal appointed board member
- AddressMoved to Tirsbækvej 191, 7120 Vejle Øst
201710 changesname 1 · capital 1 · management 6 · founded 1 · ownership 1
- NameName changed from BULLWALL ApS to BULLWALL A/S
- CapitalShare capital changed from 50,000 DKK to 1,000,000 DKK
- ManagementJan Leon Lovmand appointed chair of the board
- ManagementNiels Holch Povlsen appointed board member
- ManagementMichael Slipsager appointed board member
- ManagementJan Leon Lovmand stepped down as director
- FoundedRegistered as BULLWALL ApS
- ManagementJan Leon Lovmand appointed director
- ManagementMichael Slipsager appointed director
- OwnershipBullWall Group A/S registered as owner (100%)
Related companies
Same industry in København
- Simcorp A/S634 employees
- Visma e-conomic A/S456 employees
- PowerMatch ApS333 employees
- Sap Danmark A/S266 employees
- Better Collective A/S152 employees
- Planday A/S150 employees
Same people in management
- Duos A/Svia Hans Christian Pape
- itm8 A/Svia Christian Bamberger Bro
- EG Danmark A/Svia Christian Bamberger Bro
- Init Denmark A/Svia Christoffer Arthur Müller
- HortenDahl Advokatpartnerselskabvia Hans Christian Pape
- Conscia Danmark A/Svia Christian Bamberger Bro
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.