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Grey Matter ApS

Private limited companyCVR 36050489HillerødActive

Grey Matter ApS is a private limited company, based in Hillerød, active in retail sale of clothing, founded in 2014. Net profit fell 27% from 2024 to 2025, ending at DKK 902k. With 21 employees, the company is about 7 times larger than the industry median. Gross profit is higher than that of 90% of the companies in the industry in the database.

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Key figures · financial year 2025

Gross profitDKK 6.3m+11.5% vs. 2024
Net profitDKK 902k−26.8% vs. 2024
EquityDKK 2.7m−3.1% vs. 2024
Employees21latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Gross profit rose 12% (2024 → 2025), to DKK 6.3m.
  • Net profit fell 27% (2024 → 2025), to DKK 902k.
  • Equity fell 3% (2024 → 2025), to DKK 2.7m.

Employees

  • 3 more employees than a year earlier: 21 (07/2026) against 18 (07/2025).

Registrations, last 24 months

  • 01/01/2025: Industry changed to Retail sale of clothing (477110)

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

DKK 0DKK 500kDKK 1mDKK 1.5mDKK 2mDKK 2.5mDKK 3m202020212022202320242025
EquityNet profit
Financial figures for Grey Matter ApS
202020212022202320242025Change
Revenuenot statednot statednot statednot statednot statednot stated–
Gross profit2,5263,0443,8194,3065,6576,310+11.5%
Operating profit (EBIT)9122668351,0011,6071,186−26.2%
Profit before tax8972568129721,6001,182−26.1%
Net profit8281996217361,233902−26.8%
Total assets2,1273,2184,2575,0346,5239,208+41.2%
Equity7946941,3151,8012,8342,747−3.1%
Liabilities1,3322,5242,9413,2333,6896,457+75%
Cash and cash equivalents1,0068522,7923,0073,9074,469+14.4%
Average number of employees5777911+22.2%

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

DKK 0DKK 1mDKK 2mDKK 3mDKK 4mDKK 5mDKK 6m202020212022202320242025
Gross profitMedian, the industry (937 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 Grey Matter ApS
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202506/05/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202416/04/2025The companyPDFXBRL
202301/01/2023 – 31/12/202328/05/2024The companyPDFXBRL
202201/01/2022 – 31/12/202224/05/2023The companyPDFXBRL
202101/01/2021 – 31/12/202124/05/2022The companyPDFXBRL
202001/01/2020 – 31/12/202031/03/2021The 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
051015202508/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

937 companies in the database

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

Gross profitDKK 6.3mNo. 96 of 936
Better than 90% of the companies in the industry
EquityDKK 2.7mNo. 205 of 937
Better than 78% of the companies in the industry
Number of employees21No. 90 of 937
Better than 90% of the companies in the industry

Industry median: gross profit DKK 1.3m, net profit DKK 76,336, equity DKK 784k, 3 employees.

DKK 100kDKK 921kDKK 8.5mDKK 78.1mDKK 343mHere
Distribution of gross profit for 870 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. 7,106of 9,892
Better than 28%
No. 5,950of 9,922
Better than 40%
Same industry and 20–49 employees47 companies in the comparison
No. 32of 47
Better than 33%
No. 26of 47
Better than 46%
Companies that are between 5 and 14 years old33,688 companies in the comparison
No. 7,008of 33,588
Better than 79%
No. 8,921of 33,687
Better than 74%
All companies of type ApS66,508 companies in the comparison
No. 10,754of 66,379
Better than 84%
No. 16,818of 66,505
Better than 75%

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

Retail sale of clothing
Gross profit
  1. Grey Matter ApSDKK 6.3m
  2. H & M Hennes & Mauritz A/SDKK 718.7m
  3. Pwt Group A/SDKK 407.4m
Net profit
  1. Grey Matter ApSDKK 902k
  2. H & M Hennes & Mauritz A/SDKK 106.2m
  3. Pwt Group A/SDKK 112.3m
Equity
  1. Grey Matter ApSDKK 2.7m
  2. H & M Hennes & Mauritz A/SDKK 299.3m
  3. Pwt Group A/SDKK 283.1m
Employees
  1. Grey Matter ApS21
  2. H & M Hennes & Mauritz A/S2,767
  3. Pwt Group A/S522

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
  • OlesenCapital ApS33.33%
  • L.E. FAM Holding ApS33.33%
  • F. Ellekaer Holding ApS33.33%
Grey Matter ApS

Management

3 active registrations

Executive management

Executive management at Grey Matter ApS
NameRoleAppointed
Andreas Testrup OlesenDirector07/05/2015

Board of directors

Board of directors at Grey Matter ApS
NameRoleAppointed
Frederik Ellekær HansenChair of the board07/05/2015
Lærke Ellekær AndersenDeputy chair22/02/2022
Founders
Lærke Ellekær Andersen, Frederik Ellekær Hansen
Former management (5)
Former management at Grey Matter ApS
NameRoleAppointedResigned
Lærke Ellekær AndersenDirector11/07/201403/09/2017
Frederik Ellekær HansenDirector11/07/201403/09/2017
Andreas Testrup OlesenBoard member07/05/201503/09/2017
Lærke Ellekær AndersenBoard member07/05/201521/02/2022
Susanne KibsgaardBoard member03/09/201705/09/2020

Signing rule: Selskabet tegnes af en direktør.

Address and production units

1 active production units

Vølundsvej 6F
3400 Hillerød

Hillerød Municipality · Postcode 3400

Production units
Production unitAddressEmployeesP number
Grey Matter ApSVølundsvej 6F, 3400 Hillerød211019570742

Purpose

Selskabets formål er sælge tøj til privatpersoner

The purpose is quoted from the register in Danish.

Changes year by year

49 registered events
20261 changeaccounts 1
  • Annual report for 2025 published
20252 changesaccounts 1 · industry 1
  • Annual report for 2024 published
  • Industry changed to Retail sale of clothing (477110)
20245 changesownership 4 · accounts 1
  • F. Ellekaer Holding ApS registered as owner (33.33%)
  • L.E. FAM Holding ApS registered as owner (33.33%)
  • OlesenCapital ApS registered as owner (33.33%)
  • Grey Matter Group ApS is no longer registered as owner
  • Annual report for 2023 published
20232 changesindustry 1 · accounts 1
  • Industry changed to Detailhandel med tøj, sko, lædervarer, ure eller babyudstyr via internet (479116)
  • Annual report for 2022 published
20223 changesaccounts 1 · management 2
  • Annual report for 2021 published
  • Lærke Ellekær Andersen appointed deputy chair
  • Lærke Ellekær Andersen stepped down as board member
20212 changesaddress 1 · accounts 1
  • Moved to Vølundsvej 6F, 3400 Hillerød
  • Annual report for 2020 published
20204 changesmanagement 1 · ownership 3
  • Susanne Kibsgaard stepped down as board member
  • Grey Matter Group ApS registered as owner (100%)
  • Kibsgaard Holding 1 ApS is no longer registered as owner
  • Grey Matter Group ApS is no longer registered as owner
20192 changesownership 2
  • Kibsgaard Holding 1 ApS registered as owner (25%)
  • CORTEX HOLDING ApS is no longer registered as owner
20181 changeaddress 1
  • Moved to Ved Klædebo 14, 2970 Hørsholm
201714 changesownership 5 · capital 2 · name 1 · management 4 · address 1 · industry 1
  • Grey Matter Group ApS registered as owner (66.67%)
  • Frederik Ellekær Hansen is no longer registered as owner
  • Andreas Testrup Olesen is no longer registered as owner
  • Lærke Ellekær Andersen is no longer registered as owner
  • Share capital changed from 75,000 DKK to 100,000 DKK
  • CORTEX HOLDING ApS registered as owner (25%)
  • Name changed from Grey Matter IVS to Grey Matter ApS
  • Share capital changed from 2 DKK to 75,000 DKK
  • Susanne Kibsgaard appointed board member
  • Andreas Testrup Olesen stepped down as board member
  • Lærke Ellekær Andersen stepped down as director
  • Frederik Ellekær Hansen stepped down as director
  • Moved to Vasevej 99B, st, 3460 Birkerød
  • Industry changed to Retail sale of clothing (477110)
20162 changesindustry 1 · name 1
  • Industry changed to Retail sale of motor vehicle parts and accessories (478200)
  • Name changed from ENVELOPE IVS to Grey Matter IVS
20158 changesownership 3 · industry 1 · management 4
  • Frederik Ellekær Hansen registered as owner (25%)
  • Andreas Testrup Olesen registered as owner (25%)
  • Lærke Ellekær Andersen registered as owner (25%)
  • Industry changed to Kommunikationsdesign og grafisk design (741020)
  • Andreas Testrup Olesen appointed board member
  • Lærke Ellekær Andersen appointed board member
  • Andreas Testrup Olesen appointed director
  • Frederik Ellekær Hansen appointed chair of the board
20143 changesfounded 1 · management 2
  • Registered as ENVELOPE IVS
  • Lærke Ellekær Andersen appointed director
  • Frederik Ellekær Hansen appointed director

Related companies

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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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