Cero & Etage A/S

Public limited companyCVR 43838415SkanderborgActive

Cero & Etage A/S is a public limited company, based in Skanderborg, active in wholesale of clothing, founded in 1975. The company went from a profit in 2024 to a loss of DKK 151k in 2025. Operations are spread over 5 production units in 5 towns. With 16 employees, the company is about 3 times larger than the industry median.

PDF report Compare

Key figures · financial year 2025

Gross profitDKK 9.4m−6.8% vs. 2024

Net profit−DKK 151k−187.5% vs. 2024

EquityDKK 12.4m+12.2% vs. 2024

Employees16latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

Gross profit fell 7% (2024 → 2025), to DKK 9.4m.
Net profit went from a profit of DKK 172k to a loss of DKK 151k (2024 → 2025).
Equity rose 12% (2024 → 2025), to DKK 12.4m.

Employees

2 more employees than a year earlier: 16 (07/2026) against 14 (07/2025).

Registrations, last 24 months

18/12/2025: Share capital changed from 1,517,776 DKK to 2,017,776 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 Cero & Etage A/S
	2020	2021	2022	2023	2024	2025	Change
Revenue	not stated	not stated	not stated	not stated	not stated	not stated	–
Gross profit	7,863	11,089	12,180	12,193	10,040	9,362	−6.8%
Operating profit (EBIT)	–	4,579	3,951	2,632	2,739	1,393	−49.2%
Profit before tax	−1,362	5,205	3,149	2,455	621	22	−96.5%
Net profit	−1,348	4,102	2,485	2,008	172	−151	−187.5%
Total assets	18,066	19,356	27,010	28,095	28,806	27,309	−5.2%
Equity	4,330	8,476	8,914	10,914	11,086	12,438	+12.2%
Liabilities	13,537	10,680	18,092	17,172	17,713	14,871	−16%
Cash and cash equivalents	42	228	110	387	120	388	+223.7%
Average number of employees	12	14	16	19	13	13	0%

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

Compare with the industry (356 companies)

Gross profitMedian, the industry (356 companies)

Annual reports

6 financial years

Annual reports for Cero & Etage A/S
Financial year	Period	Published	Figures for	Documents
2025	01/01/2025 – 31/12/2025	18/06/2026	The company	PDF not statedXBRL
2024	01/01/2024 – 31/12/2024	14/04/2025	The company	PDF XBRL
2023	01/01/2023 – 31/12/2023	29/06/2024	The company	PDF XBRL
2022	01/01/2022 – 31/12/2022	30/04/2023	The company	PDF XBRL
2021	01/01/2021 – 31/12/2021	23/06/2022	The company	PDF XBRL
2020	01/01/2020 – 31/12/2020	24/05/2021	The company	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

356 companies in the database

Comparison with the other companies in wholesale of clothing based on the latest financial year.

Gross profitDKK 9.4mNo. 119 of 356

Better than 67% of the companies in the industry

EquityDKK 12.4mNo. 100 of 356

Better than 72% of the companies in the industry

Number of employees16No. 110 of 356

Better than 69% of the companies in the industry

Industry median: gross profit DKK 3.9m, net profit DKK 258k, equity DKK 3.4m, 5 employees.

Distribution of gross profit for 331 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. 5,384of 69,742 Better than 92%	No. 7,864of 69,964 Better than 89%
Same industry and fewer than 20 employees258 companies in the comparison	No. 29of 258 Better than 89%	No. 28of 258 Better than 89%
Companies that are at least 30 years old10,276 companies in the comparison	No. 4,304of 10,152 Better than 58%	No. 4,316of 10,275 Better than 58%
All companies of type A/S18,025 companies in the comparison	No. 9,288of 17,786 Better than 48%	No. 7,895of 18,024 Better than 56%

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 clothing

Gross profit

Cero & Etage A/SDKK 9.4m
DK Company A/SDKK 2.9bn
Sports Connection ApSDKK 439.2m

Net profit

Cero & Etage A/S−DKK 151k
DK Company A/SDKK 309.3m
Sports Connection ApSDKK 315.1m

Equity

Cero & Etage A/SDKK 12.4m
DK Company A/SDKK 1.3bn
Sports Connection ApSDKK 620.5m

Employees

Cero & Etage A/S16
DK Company A/S467
Sports Connection ApS76

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

Blvd Holding A/S100%

Cero & Etage A/S

Subsidiaries and ownership shares

CM Retail A/S100%

Subsidiaries are shown only if they are in the database.

Management

4 active registrations

Executive management

Executive management at Cero & Etage A/S
Name	Role	Appointed
Carin Lundgaard	Director	01/09/1996

Board of directors

Board of directors at Cero & Etage A/S
Name	Role	Appointed
Carin Lundgaard	Board member	21/06/2005
Claus Harry Mikkelsen	Board member	09/11/2005
Karsten Lundgaard	Chair of the board	10/11/2006

Auditor: Grant Thornton, Godkendt Revisionspartnerselskab

Former management (10)

Former management at Cero & Etage A/S
Name	Role	Appointed	Resigned
Karsten Søholm	Board member	22/09/1975	21/06/2005
Jens Iversen	Chair of the board	22/09/1975	01/09/2005
Christian Jonsbak Uttrup	Director	22/09/1975	20/01/1995
Max Petersen	Board member	22/09/1975	01/12/1999
Max Petersen	Director	22/09/1975	13/05/1992
Hans Aarup Christensen	Director	22/09/1975	01/09/1996
Max Schaumann Thomsen	Board member	01/12/1999	09/11/2005
Jan Stig Andersen	Chair of the board	01/09/2005	09/11/2005
Preben Kragelund	Chair of the board	09/11/2005	10/11/2006
Jørgen Flodgaard	Board member	09/11/2005	10/11/2006

Signing rule: Selskabet tegnes af en direktør alene, af to medlemmer af bestyrelsen i forening, eller af den samlede bestyrelse.

Address and production units

5 active production units

Industrivej 8
8660 Skanderborg

Skanderborg Municipality · Postcode 8660

Production units
Production unit	Address	Industry	Employees	P number
CERO & ETAGE A/S	Industrivej 8, 8660 Skanderborg	Wholesale of clothing	14	1001844820
Lundgaard	Danmarksgade 62A, 9900 Frederikshavn	Wholesale of clothing	–	1029644744
Lundgaard	Tingvej 4, 8543 Hornslet	Wholesale of clothing	–	1026241207
Lundgaard	Torvegade 6, 1, 8900 Randers C	Wholesale of clothing	–	1029644728
Lundgaard	Skelagervej 5A, 8200 Aarhus N	Wholesale of clothing	–	1029644647

Purpose

Selskabets formål er design, udvikling og handel med beklædning og beklædningsgenstande, samt enhver aktivitet, der efter bestyrelsens skøn står i forbindelse hermed.

The purpose is quoted from the register in Danish.

Changes year by year

45 registered events

02015

02016

02017

12018

02019

02020

12021

12022

12023

12024

22025

12026

20261 changeaccounts 1

18/06AccountsAnnual report for 2025 published

20252 changescapital 1 · accounts 1

18/12CapitalShare capital changed from 1,517,776 DKK to 2,017,776 DKK
14/04AccountsAnnual report for 2024 published

20241 changeaccounts 1

29/06AccountsAnnual report for 2023 published

20231 changeaccounts 1

30/04AccountsAnnual report for 2022 published

20221 changeaccounts 1

23/06AccountsAnnual report for 2021 published

20211 changeaccounts 1

24/05AccountsAnnual report for 2020 published

20181 changeaddress 1

20/10AddressMoved to Industrivej 8, 8660 Skanderborg

20141 changeaddress 1

09/10AddressMoved to Industrivej 8, 8660 Skanderborg

20091 changeaddress 1

18/11AddressMoved to Nydamsvej 2, 8362 Hørning

20066 changesmanagement 3 · name 1 · capital 1 · merger 1

10/11ManagementKarsten Lundgaard appointed chair of the board
10/11ManagementPreben Kragelund stepped down as chair of the board
10/11ManagementJørgen Flodgaard stepped down as board member
24/08NameName changed from ETAGE A/S to CERO & ETAGE A/S
24/08CapitalShare capital changed from 530,000 DKK to 1,517,776 DKK
24/08MergerMerger registered in CVR

200510 changesmanagement 9 · ownership 1

09/11ManagementPreben Kragelund appointed chair of the board
09/11ManagementClaus Harry Mikkelsen appointed board member
09/11ManagementJørgen Flodgaard appointed board member
09/11ManagementJan Stig Andersen stepped down as chair of the board
09/11ManagementMax Schaumann Thomsen stepped down as board member
09/11OwnershipBLVD HOLDING A/S registered as owner (100%)
01/09ManagementJan Stig Andersen appointed chair of the board
01/09ManagementJens Iversen stepped down as chair of the board
21/06ManagementCarin Lundgaard appointed board member
21/06ManagementKarsten Søholm stepped down as board member

19994 changesmanagement 2 · address 1 · capital 1

01/12ManagementMax Schaumann Thomsen appointed board member
01/12ManagementMax Petersen stepped down as board member
17/11AddressMoved to Søren Frichs Vej 34, 8230 Åbyhøj
31/05CapitalShare capital changed from 520,000 DKK to 530,000 DKK

19981 changecapital 1

29/05CapitalShare capital changed from 510,000 DKK to 520,000 DKK

19971 changecapital 1

30/05CapitalShare capital changed from 500,000 DKK to 510,000 DKK

19962 changesmanagement 2

01/09ManagementCarin Lundgaard appointed director
01/09ManagementHans Aarup Christensen stepped down as director

19951 changemanagement 1

20/01ManagementChristian Jonsbak Uttrup stepped down as director

19923 changesname 1 · capital 1 · management 1

14/05NameName changed from SYSTEM-KONSULENT ApS to ETAGE A/S
13/05CapitalShare capital changed from 80,000 DKK to 500,000 DKK
13/05ManagementMax Petersen stepped down as director

19757 changesfounded 1 · management 6

22/09FoundedRegistered as SYSTEM-KONSULENT ApS
22/09ManagementMax Petersen appointed board member
22/09ManagementChristian Jonsbak Uttrup appointed director
22/09ManagementHans Aarup Christensen appointed director
22/09ManagementJens Iversen appointed chair of the board
22/09ManagementKarsten Søholm appointed board member
22/09ManagementMax Petersen appointed director

Related companies

Same industry in Skanderborg

Nirantex ApS10 employees
Ksk Fashion A/S9 employees
Kluntz A/S9 employees
Maibritt Flycht Agentur ApS4 employees
Trekløver Holding ApS2 employees

See all →

Same people in management

ECCO Sko A/Svia Jan Stig Andersen
Odense Sport & Event A/Svia Preben Kragelund
DK Company Vejle A/Svia Jan Stig Andersen
Skamol A/Svia Karsten Lundgaard
V. Guldmann A/Svia Jørgen Flodgaard
Rains ApSvia Jan Stig Andersen

Largest in the industry

See all →

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 CVR Report a correction