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Cernel ApS

Private limited companyCVR 44052857Aarhus CActive

Cernel ApS is a private limited company, based in Aarhus C, active in computer programming activities, founded in 2023. The company made a loss in both 2024 and 2025, most recently DKK 4.9m. With 34 employees, the company is about 9 times larger than the industry median. Equity grew to DKK 22.3m in 2025.

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Key figures · financial year 2025

Gross profit−DKK 964k−735.2% vs. 2024
Net profit−DKK 4.9m−487.4% vs. 2024
EquityDKK 22.3m+643% vs. 2024
Employees34latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • The loss grew: from DKK 840k to DKK 4.9m (2024 → 2025).
  • Equity rose 643% (2024 → 2025), to DKK 22.3m.

Employees

  • 21 more employees than a year earlier: 34 (07/2026) against 13 (07/2025).

Management and owners, last 24 months

  • New in management: Christian Stampe Vinther (chair of the board, 09/12/2025), Geeta Suresh Schmidt (board member, 09/12/2025) and Andreas Magnus Busch (board member, 09/12/2025) (+5).
  • Stepped down: Christian Stampe Vinther (board member, 08/12/2025), Magnus Bruun Rasmussen (board member, 09/12/2025) and Mathias Tusgaard Fenger-Eriksen (board member, 10/03/2026) (+1).
  • New owners registered: Founderment A/S (01/11/2024), Magnus Bruun Invest ApS (01/11/2024) and MA Holding 2023 ApS (03/07/2025) (+1).
  • No longer registered as owner: Magnus Bruun Invest ApS (31/10/2024) and MA Holding 2023 ApS (02/07/2025).

Registrations, last 24 months

  • 10/03/2026: Share capital changed from 74,136 DKK to 76,426 DKK
  • 27/02/2026: Moved to Dalgas Avenue 2F, 2, 8000 Aarhus C
  • 09/12/2025: Share capital changed from 58,305 DKK to 74,136 DKK
  • 01/11/2024: Share capital changed from 44,367 DKK to 58,305 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 2023–2025 · amounts in DKK thousand

Equity and net profit

−DKK 5mDKK 0DKK 5mDKK 10mDKK 15mDKK 20m202320242025
EquityNet profit
Financial figures for Cernel ApS
202320242025Change
Revenuenot statednot statednot stated–
Gross profit0−115−964−735.2%
Operating profit (EBIT)––−5,373–
Profit before tax−111−840−5,435−547.1%
Net profit−111−840−4,934−487.4%
Total assets223,34824,848+642.1%
Equity−713,00322,314+643%
Liabilities923452,534+634.2%
Cash and cash equivalents183,31423,549+610.5%
Average number of employees1210+400%

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 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

−DKK 1m−DKK 500kDKK 0DKK 500kDKK 1mDKK 1.5mDKK 2mDKK 2.5m202320242025
Gross profitMedian, the industry (1,661 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Loss for 3 years in a row

    Net result has been negative in 2023–2025.

    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

3 financial years
Annual reports for Cernel ApS
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202507/07/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202429/04/2025The companyPDFXBRL
202312/05/2023 – 31/12/202302/07/2024The 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
0510152025303508/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

1,661 companies in the database

Comparison with the other companies in computer programming activities based on the latest financial year.

Gross profit−DKK 964kNo. 1602 of 1,656
Better than 3% of the companies in the industry
EquityDKK 22.3mNo. 152 of 1,661
Better than 91% of the companies in the industry
Number of employees34No. 454 of 1,661
Better than 73% of the companies in the industry

Industry median: gross profit DKK 2.6m, net profit DKK 93,491, equity DKK 1m, 4 employees.

DKK 100kDKK 978kDKK 9.6mDKK 93.7mDKK 428.6m
Distribution of gross profit for 1,474 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. 9,770of 9,892
Better than 1%
No. 1,577of 9,922
Better than 84%
Same industry and 20–49 employees183 companies in the comparison
No. 174of 182
Better than 4%
No. 35of 183
Better than 81%
Companies that are founded within the last five years16,675 companies in the comparison
No. 16,298of 16,627
Better than 2%
No. 536of 16,674
Better than 97%
All companies of type ApS66,508 companies in the comparison
No. 65,597of 66,379
Better than 1%
No. 3,897of 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

Computer programming activities
Gross profit
  1. Cernel ApS−DKK 964k
  2. Stibo Systems A/SDKK 916.6m
  3. Trackunit ApSDKK 897.1m
Net profit
  1. Cernel ApS−DKK 4.9m
  2. Stibo Systems A/SDKK 155.9m
  3. Trackunit ApSDKK 206.3m
Equity
  1. Cernel ApSDKK 22.3m
  2. Stibo Systems A/SDKK 309.7m
  3. Trackunit ApSDKK 1.7bn
Employees
  1. Cernel ApS34
  2. Stibo Systems A/S201
  3. Trackunit ApS249

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
  • Founderment A/S5%
  • Magnus Bruun Invest ApS5%
  • MA Holding 2023 ApS33.33%
  • Seed Capital V K/S20%
Cernel ApS

Management

7 active registrations

Executive management

Executive management at Cernel ApS
NameRoleAppointed
Mathias Tusgaard Fenger-EriksenDirector01/08/2023
Andreas Magnus BuschCEO01/08/2023
Magnus Bruun RasmussenDirector14/10/2024

Board of directors

Board of directors at Cernel ApS
NameRoleAppointed
Christian Stampe VintherChair of the board09/12/2025
Geeta Suresh SchmidtBoard member09/12/2025
Andreas Magnus BuschBoard member09/12/2025
Magnus Bruun RasmussenBoard member10/03/2026
Founders
Andreas Magnus Busch
Former management (5)
Former management at Cernel ApS
NameRoleAppointedResigned
Andreas Magnus BuschDirector12/05/202331/07/2023
Christian Stampe VintherBoard member01/11/202408/12/2025
Magnus Bruun RasmussenBoard member01/11/202409/12/2025
Mathias Tusgaard Fenger-EriksenBoard member01/11/202410/03/2026
Andreas Magnus BuschChair of the board01/11/202408/12/2025

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

Address and production units

1 active production units

Dalgas Avenue 2F
8000 Aarhus C

Aarhus Municipality · Postcode 8000

Production units
Production unitAddressEmployeesP number
Cernel ApSDalgas Avenue 2F, 2, 8000 Aarhus C351029309554

Purpose

Selskabets formål er at drive virksomhed med udvikling af software og salg heraf samt udøve anden hermed beslægtet virksomhed.

The purpose is quoted from the register in Danish.

Changes year by year

53 registered events
20265 changesaccounts 1 · capital 1 · management 2 · address 1
  • Annual report for 2025 published
  • Share capital changed from 74,136 DKK to 76,426 DKK
  • Magnus Bruun Rasmussen appointed board member
  • Mathias Tusgaard Fenger-Eriksen stepped down as board member
  • Moved to Dalgas Avenue 2F, 2, 8000 Aarhus C
202511 changescapital 1 · management 6 · ownership 3 · accounts 1
  • Share capital changed from 58,305 DKK to 74,136 DKK
  • Andreas Magnus Busch appointed board member
  • Geeta Suresh Schmidt appointed board member
  • Christian Stampe Vinther appointed chair of the board
  • Magnus Bruun Rasmussen stepped down as board member
  • Seed Capital V K/S registered as owner (20%)
  • Andreas Magnus Busch stepped down as chair of the board
  • Christian Stampe Vinther stepped down as board member
  • MA Holding 2023 ApS registered as owner (33.33%)
  • MA Holding 2023 ApS is no longer registered as owner
  • Annual report for 2024 published
202421 changescapital 3 · management 5 · ownership 10 · accounts 1 · address 2
  • Share capital changed from 44,367 DKK to 58,305 DKK
  • Andreas Magnus Busch appointed chair of the board
  • Christian Stampe Vinther appointed board member
  • Magnus Bruun Rasmussen appointed board member
  • Mathias Tusgaard Fenger-Eriksen appointed board member
  • Magnus Bruun Invest ApS registered as owner (5%)
  • Founderment A/S registered as owner (5%)
  • Magnus Bruun Invest ApS is no longer registered as owner
  • Magnus Bruun Rasmussen appointed director
  • MA Holding 2023 ApS registered as owner (66.67%)
  • Cernel ApS is no longer registered as owner
  • Jonathan Stouby Nielsen is no longer registered as owner
  • MA Holding 2023 ApS is no longer registered as owner
  • Cernel ApS registered as owner (5%)
  • Simon Kidde Calundan is no longer registered as owner
  • Annual report for 2023 published
  • Share capital changed from 43,479 DKK to 44,367 DKK
  • Moved to Inge Lehmanns Gade 10, 6, 8000 Aarhus C
  • Share capital changed from 40,000 DKK to 43,479 DKK
  • Magnus Bruun Invest ApS registered as owner (10%)
  • Moved to Inge Lehmanns Gade 10, 6, 8000 Aarhus C
202316 changesaddress 2 · ownership 9 · management 4 · founded 1
  • Moved to Nordborggade 53, 4. th, 8000 Aarhus C
  • MA Holding 2023 ApS registered as owner (50%)
  • Mathias Tusgaard Fenger-Eriksen is no longer registered as owner
  • Andreas Magnus Busch is no longer registered as owner
  • Simon Kidde Calundan registered as owner (5%)
  • Jonathan Stouby Nielsen registered as owner (5%)
  • Mathias Tusgaard Fenger-Eriksen registered as owner (33.33%)
  • Moved to Nordborggade 53, 4. th, 8000 Aarhus C
  • Jacob Ib Sonne-Schmidt registered as owner (10%)
  • Jacob Ib Sonne-Schmidt is no longer registered as owner
  • Andreas Magnus Busch appointed ceo
  • Mathias Tusgaard Fenger-Eriksen appointed director
  • Andreas Magnus Busch stepped down as director
  • Registered as Cernel ApS
  • Andreas Magnus Busch appointed director
  • Andreas Magnus Busch registered as owner (33.33%)

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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.

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