Citwo A/S

Public limited companyCVR 37740845Aarhus CActive

Citwo A/S is a public limited company, based in Aarhus C, active in other financial service activities n.e.c., founded in 2016. Net profit fell 12% from 2024 to 2025, ending at DKK 8.2m. Equity grew to DKK 53m in 2025. Gross profit is higher than that of 96% of the companies in the industry in the database.

PDF report Compare

Key figures · financial year 2025

Gross profitDKK 30m+8.6% vs. 2024

Net profitDKK 8.2m−12.5% vs. 2024

EquityDKK 53m+18.2% vs. 2024

Employees2latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

Gross profit rose 9% (2024 → 2025), to DKK 30m.
Net profit fell 12% (2024 → 2025), to DKK 8.2m.
Equity rose 18% (2024 → 2025), to DKK 53m.

Management and owners, last 24 months

New owners registered: Jæger Holding A/S (04/06/2025).

Registrations, last 24 months

01/01/2025: Industry changed to Other financial service activities n.e.c. (649990)

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 Citwo A/S
	2020	2021	2022	2023	2024	2025	Change
Revenue	not stated	not stated	not stated	not stated	not stated	not stated	–
Gross profit	7,407	11,396	16,454	31,260	27,618	30,005	+8.6%
Operating profit (EBIT)	–	–	–	–	–	29,925	–
Profit before tax	3,991	6,123	8,569	9,955	11,983	10,526	−12.2%
Net profit	3,066	4,824	6,670	7,749	9,337	8,172	−12.5%
Total assets	180,814	254,392	241,474	283,176	593,076	334,625	−43.6%
Equity	16,235	21,058	27,728	35,478	44,815	52,987	+18.2%
Liabilities	164,580	233,333	213,745	247,698	548,261	281,638	−48.6%
Cash and cash equivalents	0	9	3	66	1	6	+622.1%
Average number of employees	1	1	1	1	1	2	+100%

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 (739 companies)

Gross profitMedian, the industry (739 companies)

Signals from the financial statements

calculated from the 2025 figures

Profit for five years in a row
Net result has been positive in 2021–2025.
How is this calculated?
Net result is positive in the five 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

6 financial years

Annual reports for Citwo A/S
Financial year	Period	Published	Figures for	Documents
2025	01/01/2025 – 31/12/2025	05/03/2026	The company	PDF not statedXBRL
2024	01/01/2024 – 31/12/2024	18/02/2025	The company	PDF XBRL
2023	01/01/2023 – 31/12/2023	19/02/2024	The company	PDF XBRL
2022	01/01/2022 – 31/12/2022	20/02/2023	The company	PDF XBRL
2021	01/01/2021 – 31/12/2021	31/01/2022	The company	PDF XBRL
2020	01/01/2020 – 31/12/2020	17/02/2021	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

739 companies in the database

Comparison with the other companies in other financial service activities n.e.c. based on the latest financial year.

Gross profitDKK 30mNo. 29 of 713

Better than 96% of the companies in the industry

EquityDKK 53mNo. 159 of 739

Better than 79% of the companies in the industry

Number of employees2No. 141 of 739

Better than 81% of the companies in the industry

Industry median: gross profit −DKK 23,925, net profit DKK 174k, equity DKK 10.2m, 1 employees.

Distribution of gross profit for 270 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. 882of 69,742 Better than 99%	No. 2,939of 69,964 Better than 96%
Same industry and fewer than 20 employees699 companies in the comparison	No. 23of 676 Better than 97%	No. 154of 699 Better than 78%
Companies that are between 5 and 14 years old33,688 companies in the comparison	No. 1,278of 33,588 Better than 96%	No. 1,150of 33,687 Better than 97%
All companies of type A/S18,025 companies in the comparison	No. 4,403of 17,786 Better than 75%	No. 3,455of 18,024 Better than 81%

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 financial service activities n.e.c.

Gross profit

Citwo A/SDKK 30m
Kirkbi A/SDKK 60bn
William Demant Invest A/SDKK 22bn

Net profit

Citwo A/SDKK 8.2m
Kirkbi A/SDKK 16.9bn
William Demant Invest A/SDKK 1.1bn

Equity

Citwo A/SDKK 53m
Kirkbi A/SDKK 151.9bn
William Demant Invest A/SDKK 31.6bn

Employees

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

Niels Ulrich Madsen15%
Investeringsselskabet af 15. August 1990 ApS15%
Reedtz Invest ApS10%
Pantebrevsselskabet af 1.4.1992 A/S15%
Investeringsselskabet LL af 21. December 2010 ApS10%
Værsø Invest ApS15%
Jæger Holding A/S5%

Citwo A/S

Management

4 active registrations

Executive management

Executive management at Citwo A/S
Name	Role	Appointed
Klaus Kejlberg Schulze	CEO	18/05/2016

Board of directors

Board of directors at Citwo A/S
Name	Role	Appointed
Peter Aggerholm	Chair of the board	18/05/2016
Klaus Kejlberg Schulze	Board member	18/05/2016
Gert Baastrup Mikkelsen	Board member	13/09/2018

Auditor: BDO Statsautoriseret Revisionspartnerselskab
Founders: Pantebrevsselskabet af 1.4.1992 A/S, Investeringsselskabet LL af 21. December 2010 ApS

Former management (1)

Former management at Citwo A/S
Name	Role	Appointed	Resigned
Bente Grøn Aggerholm	Board member	18/05/2016	13/09/2018

Signing rule: Selskabet tegnes af 1 direktør eller 2 bestyrelsesmedlemmer i forening.

Address and production units

1 active production units

Søndergade 2
8000 Aarhus C

Aarhus Municipality · Postcode 8000

Production units
Production unit	Address	Industry	Employees	P number
Citwo A/S	Søndergade 2, 8000 Aarhus C	Other financial service activities n.e.c.	2	1021441771

Purpose

Selskabets formål er dels for egne og dels for lånte midler at investere i danske pantebreve samt dermed beslægtet investeringsvirksomhed i aktier, obligationer og lignende værdipapirer.

The purpose is quoted from the register in Danish.

Changes year by year

42 registered events

122016

12017

72018

112019

22020

12021

22022

12023

12024

32025

12026

20261 changeaccounts 1

05/03AccountsAnnual report for 2025 published

20253 changesownership 1 · accounts 1 · industry 1

04/06OwnershipJÆGER HOLDING A/S registered as owner (5%)
18/02AccountsAnnual report for 2024 published
01/01IndustryIndustry changed to Other financial service activities n.e.c. (649990)

20241 changeaccounts 1

19/02AccountsAnnual report for 2023 published

20231 changeaccounts 1

20/02AccountsAnnual report for 2022 published

20222 changesownership 1 · accounts 1

01/02OwnershipVærsø Invest ApS registered as owner (15%)
31/01AccountsAnnual report for 2021 published

20211 changeaccounts 1

17/02AccountsAnnual report for 2020 published

20202 changesownership 2

01/10OwnershipINVESTERINGSSELSKABET LL AF 21. DECEMBER 2010 ApS registered as owner (10%)
01/10OwnershipRETRO INVEST ApS is no longer registered as owner

201911 changesownership 11

19/03OwnershipINVESTERINGSSELSKABET AF 15. AUGUST 1990 ApS registered as owner (15%)
19/03OwnershipRETRO INVEST ApS registered as owner (20%)
19/03OwnershipNiels Ulrich Madsen registered as owner (15%)
19/03OwnershipPANTEBREVSSELSKABET AF 1.4.1992 A/S registered as owner (15%)
19/03OwnershipREEDTZ INVEST ApS registered as owner (10%)
19/03OwnershipCPH Ejendomskreditselskab A/S is no longer registered as owner
18/03OwnershipRETRO INVEST ApS is no longer registered as owner
18/03OwnershipINVESTERINGSSELSKABET AF 15. AUGUST 1990 ApS is no longer registered as owner
18/03OwnershipNiels Ulrich Madsen is no longer registered as owner
18/03OwnershipREEDTZ INVEST ApS is no longer registered as owner
18/03OwnershipPANTEBREVSSELSKABET AF 1.4.1992 A/S is no longer registered as owner

20187 changesownership 4 · capital 1 · management 2

05/11OwnershipRETRO INVEST ApS registered as owner (15%)
05/11OwnershipINVESTERINGSSELSKABET LL AF 21. DECEMBER 2010 ApS is no longer registered as owner
13/09CapitalShare capital changed from 500,000 DKK to 750,000 DKK
13/09ManagementGert Baastrup Mikkelsen appointed board member
13/09ManagementBente Grøn Aggerholm stepped down as board member
13/09OwnershipINVESTERINGSSELSKABET AF 15. AUGUST 1990 ApS registered as owner (15%)
13/09OwnershipNiels Ulrich Madsen registered as owner (15%)

20171 changeownership 1

12/10OwnershipCPH Ejendomskreditselskab A/S registered as owner (15%)

201612 changesownership 7 · founded 1 · management 4

07/11OwnershipREEDTZ INVEST ApS registered as owner (15%)
07/11OwnershipINVESTERINGSSELSKABET LL AF 21. DECEMBER 2010 ApS registered as owner (15%)
07/11OwnershipPANTEBREVSSELSKABET AF 1.4.1992 A/S registered as owner (15%)
06/11OwnershipINVESTERINGSSELSKABET LL AF 21. DECEMBER 2010 ApS is no longer registered as owner
06/11OwnershipPANTEBREVSSELSKABET AF 1.4.1992 A/S is no longer registered as owner
18/05FoundedRegistered as Citwo A/S
18/05ManagementBente Grøn Aggerholm appointed board member
18/05ManagementPeter Aggerholm appointed chair of the board
18/05ManagementKlaus Kejlberg Schulze appointed ceo
18/05ManagementKlaus Kejlberg Schulze appointed board member
18/05OwnershipINVESTERINGSSELSKABET LL AF 21. DECEMBER 2010 ApS registered as owner (50%)
18/05OwnershipPANTEBREVSSELSKABET AF 1.4.1992 A/S registered as owner (50%)

Related companies

Same industry in Aarhus

Mprengel Invest ApS41 employees
Blue Capital Fund Management A/S11 employees
Imbro A/S9 employees
Fair Finans Ejendomskreditselskab A/S5 employees
Ekc Egå ApS5 employees
W1 Holding ApS4 employees

See all →

Same people in management

V. Guldmann A/Svia Niels Ulrich Madsen
MC Emballage A/Svia Niels Ulrich Madsen
Lme A/Svia Gert Baastrup Mikkelsen
Der Kuhstall ApSvia Klaus Kejlberg Schulze
Laros A/Svia Niels Ulrich Madsen
Scrouples A/Svia Niels Ulrich Madsen

Largest in the industry

Kirkbi A/SDKK 60bn
William Demant Invest A/SDKK 22bn
Lars Larsen Group A/SDKK 17.2bn
KK Group Holding A/SDKK 2.6bn
KIRKBI Investment Management A/SDKK 984m
Jens Enggaard Holding ApSDKK 979.3m

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. 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