Kredsløb A/S
Public limited companyCVR 40844244BrabrandActive
Kredsløb A/S is a public limited company, based in Brabrand, active in steam and air conditioning supply (district heating), founded in 2019. Measured by gross profit, it ranks no. 1 of 26 companies in the industry in the database. Operations are spread over 16 production units in 11 towns. With 570 employees, the company is about 57 times larger than the industry median.
Key figures · financial year 2025
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- Gross profit fell 12% (2024 → 2025), to DKK 174.6m.
- Revenue fell 3% (2024 → 2025), to DKK 427.9m.
Employees
- 26 more employees than a year earlier: 570 (07/2026) against 544 (07/2025).
Management and owners, last 24 months
- New in management: Lejla Mesanovic (board member, 05/03/2026), Søren Adamsen (board member, 17/06/2026) and Thomas John Rand (chair of the board, 17/06/2026) (+6).
- Stepped down: Tom Ellegaard (deputy board member, 05/03/2026), Bjarne Munk Jensen (board member, 16/06/2026) and Kim Kristen Nørskov Beyer (board member, 05/03/2026) (+3).
Registrations, last 24 months
- 01/01/2025: Industry changed to Steam and air conditioning supply (district heating) (353000)
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 | 272,781 | 285,248 | 325,345 | 399,116 | 441,097 | 427,900 | −3% |
| Gross profit | 253,425 | 239,050 | 128,529 | 163,569 | 197,875 | 174,645 | −11.7% |
| Operating profit (EBIT) | 5,521 | 647 | 7,671 | 11,724 | 4,613 | 2,688 | −41.7% |
| Profit before tax | 0 | −107 | −101 | 3,151 | 779 | 748 | −4% |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | – |
| Total assets | 639,246 | 325,627 | 397,725 | 376,249 | 220,290 | 355,090 | +61.2% |
| Equity | 412 | 412 | 412 | 412 | 412 | 412 | 0% |
| Liabilities | 638,834 | 325,215 | 397,313 | 374,745 | 219,179 | 354,678 | +61.8% |
| Cash and cash equivalents | 0 | – | 7,352 | 31,987 | 95 | 64,864 | +68,177.9% |
| Average number of employees | 367 | 384 | 407 | 473 | 493 | 515 | +4.5% |
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.
Download the figures as CSV · free with an account, amounts in whole DKK
Signals from the financial statements
calculated from the 2025 figuresLow equity ratio
Equity makes up 0% of total assets in 2025.
How is this calculated?
Equity ÷ total assets is below 10% in the latest annual report. Banks, insurers and some industries naturally have a low ratio.
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| Financial year | Period | Published | Figures for | Documents |
|---|---|---|---|---|
| 2025 | 01/01/2025 – 31/12/2025 | 16/06/2026 | The company | PDF not statedXBRL |
| 2024 | 01/01/2024 – 31/12/2024 | 12/06/2025 | The company | PDFXBRL |
| 2023 | 01/01/2023 – 31/12/2023 | 10/06/2024 | The company | PDFXBRL |
| 2022 | 01/01/2022 – 31/12/2022 | 25/05/2023 | The company | PDFXBRL |
| 2021 | 01/01/2021 – 31/12/2021 | 08/06/2022 | The company | PDFXBRL |
| 2020 | 01/10/2019 – 31/12/2020 | 16/08/2021 | 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
26 companies in the databaseComparison with the other companies in steam and air conditioning supply (district heating) based on the latest financial year.
Industry median: gross profit DKK 12.7m, net profit DKK 0, equity DKK 2.9m, 10 employees.
Compared with similar companies
size, age and company form| Group | Gross profit | Equity |
|---|---|---|
| Companies with 500–999 employees207 companies in the comparison | No. 141of 189 Better than 26% | No. 198of 207 Better than 4% |
| Companies that are between 5 and 14 years old33,688 companies in the comparison | No. 184of 33,588 Better than 99% | No. 20,930of 33,687 Better than 38% |
| All companies of type A/S18,025 companies in the comparison | No. 914of 17,786 Better than 95% | No. 16,797of 18,024 Better than 7% |
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
Steam and air conditioning supply (district heating)- Kredsløb A/SDKK 174.6m
- Fjernvarme Horsens A/SDKK 137.9m
- Sønderborg Varme A/SDKK 129.5m
- Kredsløb A/SDKK 0
- Fjernvarme Horsens A/SDKK 2.5m
- Sønderborg Varme A/SDKK 7.1m
- Kredsløb A/SDKK 412k
- Fjernvarme Horsens A/SDKK 14.2m
- Sønderborg Varme A/SDKK 42.6m
- Kredsløb A/S570
- Fjernvarme Horsens A/S57
- Sønderborg Varme A/S66
Latest financial year per company. Choose up to three companies from the largest in the industry.
Owners and group
from the Public Ownership Register- Kredsløb Holding A/S100%
Management
13 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Thomas Elgaard Jensen | Director | 01/05/2022 |
| Bjarne Munk Jensen | CEO | 01/05/2022 |
Board of directors
| Name | Role | Appointed |
|---|---|---|
| Jens Rishøj Skov | Board member | 19/09/2020 |
| Hanne Tokkesdal Jensen | Board member | 19/09/2020 |
| Lejla Mesanovic | Board member | 05/03/2026 |
| Søren Adamsen | Board member | 17/06/2026 |
| Thomas John Rand | Chair of the board | 17/06/2026 |
| Jakob Søgaard Clausen | Board member | 17/06/2026 |
| Laura Hay Uggla | Board member | 17/06/2026 |
| Trine Lindegaard Holmberg | Board member | 17/06/2026 |
| Mohat Bashir Yussuf | Board member | 17/06/2026 |
| Matilde Kirstine Bræmer Dueholm | Deputy chair | 17/06/2026 |
| Christian Brinkmann Damsgaard | Board member | 17/06/2026 |
- Founders
- ApS KBUS 38 nr.3117
Former management (15)
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| Peter Andreas Stakemann | Director | 01/10/2019 | 23/10/2019 |
| Bjarne Munk Jensen | Director | 23/10/2019 | 30/04/2022 |
| Christian Andersen-Mølgaard | Board member | 22/11/2019 | 19/09/2020 |
| Henrik Seiding | Chair of the board | 22/11/2019 | 19/09/2020 |
| Peter Pedersen | Board member | 22/11/2019 | 19/09/2020 |
| Tom Ellegaard | Deputy board member | 19/09/2020 | 05/03/2026 |
| Bjarne Munk Jensen | Board member | 19/09/2020 | 16/06/2026 |
| Lone Paulsen | Chair of the board | 19/09/2020 | 03/09/2024 |
| Kim Kristen Nørskov Beyer | Board member | 19/09/2020 | 05/03/2026 |
| Kim Lorentzen | Deputy board member | 19/09/2020 | 31/01/2022 |
| Lars Gjørtz Hougaard | Deputy chair | 19/09/2020 | 01/04/2022 |
| Lene van der Raad | Deputy chair | 01/04/2022 | 03/02/2023 |
| Thomas Elgaard Jensen | Board member | 18/05/2022 | 16/06/2026 |
| Carsten Niclas Kvernrød | Deputy chair | 03/02/2023 | 16/06/2026 |
| Lisbeth Hjortborg Jensen | Chair of the board | 03/09/2024 | 16/06/2026 |
Signing rule: Selskabet tegnes af en direktør i forening med bestyrelsens formand eller af den samlede bestyrelse.
Address and production units
16 active production unitsKaren Blixens Boulevard 7
8220 Brabrand
| Production unit | Address | Employees | P number |
|---|---|---|---|
| Kredsløb A/S | Karen Blixens Boulevard 7, 8220 Brabrand | 326 | 1025109658 |
| Affaldsenergi | Energivej 26, Lisbjerg, 8200 Aarhus N | 156 | 1025300706 |
| Kredsløb Energianlæg Skanderborg | Norgesvej 13A, 8660 Skanderborg | 24 | 1028968236 |
| Genbrugsstation Viby | Eskelundvej 13, 8260 Viby J | 13 | 1025297780 |
| Cirkulære Råstoffer | Energivej 26, Lisbjerg, 8200 Aarhus N | 11 | 1025297926 |
| Genbrugsstation Risskov | Lystrupvej 190, 8240 Risskov | 10 | 1025297756 |
| Genbrugsstation Brabrand | Sintrupvej 57, 8220 Brabrand | 9 | 1025297764 |
| Genbrugsstation Hasselager | Birkegårdsvej 8, 8361 Hasselager | 6 | 1025297772 |
| Genbrugsstation Malling | Holmskovvej 66, 8340 Malling | 6 | 1025297896 |
| Harlev Halmværk | Lilleringvej 32, 8462 Harlev J | 4 | 1025300714 |
| Materiel og Lager | Bautavej 11, Hasle, 8210 Aarhus V | 2 | 1025300641 |
| Beholderservice | Energivej 11, Lisbjerg, 8200 Aarhus N | 1 | 1028237223 |
| Farligt Affald | Energivej 52, Lisbjerg, 8200 Aarhus N | 1 | 1025297985 |
| Genbrugsstation Lisbjerg | Genbrugsvej 4, 8200 Aarhus N | 1 | 1025297810 |
| Sabro Halmværk | Hvidtjørnvej 1, 8471 Sabro | – | 1025300757 |
Showing 15 of 16 units (sorted by employees).
Purpose
Selskabets formål er at varetage serviceaktiviteter, herunder at levere administrations- og driftsydelser og dermed beslægtede aktiviteter, til forsyningsselskaber, som er direkte eller indirekte ejet af Aarhus Kommune eller har indgået aftale herom med et af Aarhus Kommunes direkte eller indirekte ejet forsyningsselskab. Selskabet skal drive effektiv servicevirksomhed, der i videst muligt omfang understøtter effektiv forsyningsvirksomhed, som fremmer samfundsøkonomisk og miljøvenlig anvendelse af energi, høj forsyningssikkerhed og grøn omstilling.
The purpose is quoted from the register in Danish.
Changes year by year
64 registered events202616 changesmanagement 15 · accounts 1
- ManagementSøren Adamsen appointed board member
- ManagementChristian Brinkmann Damsgaard appointed board member
- ManagementMatilde Kirstine Bræmer Dueholm appointed deputy chair
- ManagementMohat Bashir Yussuf appointed board member
- ManagementTrine Lindegaard Holmberg appointed board member
- ManagementLaura Hay Uggla appointed board member
- ManagementJakob Søgaard Clausen appointed board member
- ManagementThomas John Rand appointed chair of the board
- ManagementLisbeth Hjortborg Jensen stepped down as chair of the board
- ManagementCarsten Niclas Kvernrød stepped down as deputy chair
- ManagementThomas Elgaard Jensen stepped down as board member
- ManagementBjarne Munk Jensen stepped down as board member
- AccountsAnnual report for 2025 published
- ManagementLejla Mesanovic appointed board member
- ManagementKim Kristen Nørskov Beyer stepped down as board member
- ManagementTom Ellegaard stepped down as deputy board member
20252 changesaccounts 1 · industry 1
- AccountsAnnual report for 2024 published
- IndustryIndustry changed to Steam and air conditioning supply (district heating) (353000)
20244 changesmanagement 2 · address 1 · accounts 1
- ManagementLisbeth Hjortborg Jensen appointed chair of the board
- ManagementLone Paulsen stepped down as chair of the board
- AddressMoved to Karen Blixens Boulevard 7, 8220 Brabrand
- AccountsAnnual report for 2023 published
20233 changesaccounts 1 · management 2
- AccountsAnnual report for 2022 published
- ManagementCarsten Niclas Kvernrød appointed deputy chair
- ManagementLene van der Raad stepped down as deputy chair
20228 changesaccounts 1 · management 7
- AccountsAnnual report for 2021 published
- ManagementThomas Elgaard Jensen appointed board member
- ManagementThomas Elgaard Jensen appointed director
- ManagementBjarne Munk Jensen appointed ceo
- ManagementBjarne Munk Jensen stepped down as director
- ManagementLene van der Raad appointed deputy chair
- ManagementLars Gjørtz Hougaard stepped down as deputy chair
- ManagementKim Lorentzen stepped down as deputy board member
20212 changesname 1 · accounts 1
- NameName changed from AffaldVarme Aarhus A/S to Kredsløb A/S
- AccountsAnnual report for 2020 published
202012 changesmanagement 11 · industry 1
- ManagementLars Gjørtz Hougaard appointed deputy chair
- ManagementJens Rishøj Skov appointed board member
- ManagementHanne Tokkesdal Jensen appointed board member
- ManagementKim Lorentzen appointed deputy board member
- ManagementKim Kristen Nørskov Beyer appointed board member
- ManagementLone Paulsen appointed chair of the board
- ManagementBjarne Munk Jensen appointed board member
- ManagementTom Ellegaard appointed deputy board member
- ManagementPeter Pedersen stepped down as board member
- ManagementHenrik Seiding stepped down as chair of the board
- ManagementChristian Andersen-Mølgaard stepped down as board member
- IndustryIndustry changed to Steam and air conditioning supply (district heating) (353000)
201917 changescapital 2 · ownership 5 · name 2 · management 6 · address 1 · founded 1
- CapitalShare capital changed from 400,000 DKK to 410,000 DKK
- OwnershipKredsløb Holding A/S registered as owner (100%)
- OwnershipAarhus Kommune is no longer registered as owner
- NameName changed from AffaldVarme Aarhus ApS to AffaldVarme Aarhus A/S
- CapitalShare capital changed from 40,000 DKK to 400,000 DKK
- ManagementPeter Pedersen appointed board member
- ManagementHenrik Seiding appointed chair of the board
- ManagementChristian Andersen-Mølgaard appointed board member
- AddressMoved to Karen Blixens Boulevard 7, 8220 Brabrand
- NameName changed from ApS KBUS 18 - 177 to AffaldVarme Aarhus ApS
- ManagementBjarne Munk Jensen appointed director
- ManagementPeter Andreas Stakemann stepped down as director
- OwnershipAarhus Kommune registered as owner (100%)
- OwnershipApS KBUS 38 nr.3117 is no longer registered as owner
- FoundedRegistered as ApS KBUS 18 - 177
- ManagementPeter Andreas Stakemann appointed director
- OwnershipApS KBUS 38 nr.3117 registered as owner (100%)
Related companies
Same industry in Aarhus
- Løgten-skødstrup Forsyning A/S6 employees
- Løgten-Skødstrup Fjernvarme Amba5 employees
- Tranbjerg Varmeværk A M B A5 employees
- Rundhøj Fjernvarme AMBA5 employees
- Malling Varmeværk AMBA4 employees
- Lyngby Kraftvarmeværk A/S2 employees
Same people in management
- Rambøll Danmark A/Svia Thomas John Rand
- Pure Gym Denmark A/Svia Peter Andreas Stakemann
- Atea A/Svia Peter Andreas Stakemann
- Nomeco A/Svia Peter Andreas Stakemann
- Aviator Flight Services ApSvia Peter Andreas Stakemann
- Randstad A/Svia Peter Andreas Stakemann
Largest in the industry
- Fjernvarme Horsens A/SDKK 137.9m
- Sønderborg Varme A/SDKK 129.5m
- Silkeborg Varme A/SDKK 125.6m
- Verdo Varme Herning ApSDKK 65.4m
- Verdo Varme A/SDKK 46.9m
- Rvv A.m.b.a.DKK 28.5m
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 23/10/2026.