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Learningbank A/S

Public limited companyCVR 32353606København SActive

Learningbank A/S is a public limited company, based in København S, active in other software publishing, founded in 2014. The company made a loss in both 2024 and 2025, most recently DKK 3.5m. With 31 employees, the company is about 8 times larger than the industry median. Equity fell to DKK 2m in 2025.

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Key figures · financial year 2025

Gross profitDKK 28.4m+9.4% vs. 2024
Net profit−DKK 3.5m+50.1% vs. 2024
EquityDKK 2m−63.9% vs. 2024
Employees31latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Gross profit rose 9% (2024 → 2025), to DKK 28.4m.
  • The loss got smaller: from DKK 7m to DKK 3.5m (2024 → 2025).
  • Equity fell 64% (2024 → 2025), to DKK 2m.

Management and owners, last 24 months

  • New in management: Mathias Frost Bilgram (board member, 05/08/2025).
  • New owners registered: Arenfeldt Invest ApS (10/12/2024), Navision Alternative Investments A/S (10/12/2024) and ZSB Holding ApS (10/12/2024) (+1).
  • No longer registered as owner: ZSB Holding ApS (09/12/2024), RoosGruppen AB (09/12/2024) and Arenfeldt Invest ApS (09/12/2024) (+1).

Registrations, last 24 months

  • 10/12/2024: Share capital changed from 948,455 DKK to 1,094,032 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

−DKK 15m−DKK 10m−DKK 5mDKK 0DKK 5mDKK 10mDKK 15mDKK 20m202020212022202320242025
EquityNet profit
Financial figures for Learningbank A/S
202020212022202320242025Change
Revenuenot statednot statednot statednot statednot statednot stated–
Gross profit21,44610,60819,05122,22625,97928,414+9.4%
Operating profit (EBIT)−2,344−11,995−17,160−9,454−2,12432+101.5%
Profit before tax−4,159−13,595−18,930−13,507−9,144−3,824+58.2%
Net profit−2,593−10,781−14,096−10,610−7,038−3,513+50.1%
Total assets45,00460,04852,07048,33850,36048,984−2.7%
Equity3,58818,7744,678−5,9325,4961,983−63.9%
Liabilities35,53536,25844,82553,46044,55347,000+5.5%
Cash and cash equivalents1,12412,710110182,2163,040+37.2%
Average number of employees3839473830300%

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 5mDKK 10mDKK 15mDKK 20mDKK 25mDKK 30m202020212022202320242025
Gross profitMedian, the industry (499 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Loss for 6 years in a row

    Net result has been negative in 2020–2025.

    How is this calculated?

    Net result is negative in the two or more latest annual reports in a row.

  • Equity fell sharply

    Equity fell 64% from 2024 to 2025 (DKK 5.5m to DKK 2m).

    How is this calculated?

    Equity has fallen by at least 30% from the previous annual report, and it was positive the year before.

  • Low equity ratio

    Equity makes up 4% 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
Annual reports for Learningbank A/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202519/06/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202420/04/2025The companyPDFXBRL
202301/01/2023 – 31/12/202316/04/2024The companyPDFXBRL
202201/01/2022 – 31/12/202220/06/2023The companyPDFXBRL
202101/01/2021 – 31/12/202127/06/2022The companyPDFXBRL
202001/01/2020 – 31/12/202031/05/2021The 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
01020304009/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/2608/26
Employees

Position in the industry

499 companies in the database

Comparison with the other companies in other software publishing based on the latest financial year.

Gross profitDKK 28.4mNo. 54 of 494
Better than 89% of the companies in the industry
EquityDKK 2mNo. 210 of 499
Better than 58% of the companies in the industry
Number of employees31No. 51 of 499
Better than 90% of the companies in the industry

Industry median: gross profit DKK 2.9m, net profit DKK 42,450, equity DKK 1.1m, 4 employees.

DKK 100kDKK 1.2mDKK 14.1mDKK 168.1mDKK 875.9mHere
Distribution of gross profit for 427 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. 1,484of 9,892
Better than 85%
No. 6,547of 9,922
Better than 34%
Same industry and 20–49 employees64 companies in the comparison
No. 21of 63
Better than 68%
No. 52of 64
Better than 19%
Companies that are between 5 and 14 years old33,688 companies in the comparison
No. 1,347of 33,588
Better than 96%
No. 10,876of 33,687
Better than 68%
All companies of type A/S18,025 companies in the comparison
No. 4,562of 17,786
Better than 74%
No. 14,564of 18,024
Better than 19%

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 software publishing
Gross profit
  1. Learningbank A/SDKK 28.4m
  2. Milestone Systems A/SDKK 2bn
  3. Visma e-conomic A/SDKK 880.2m
Net profit
  1. Learningbank A/S−DKK 3.5m
  2. Milestone Systems A/SDKK 183.4m
  3. Visma e-conomic A/SDKK 456.2m
Equity
  1. Learningbank A/SDKK 2m
  2. Milestone Systems A/SDKK 1.7bn
  3. Visma e-conomic A/SDKK 471.5m
Employees
  1. Learningbank A/S31
  2. Milestone Systems A/S531
  3. Visma e-conomic A/S456

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
  • Arenfeldt Invest ApS15%
  • Navision Alternative Investments A/S25%
  • ZSB Holding ApS25%
  • RoosGruppen AB15%
Learningbank A/S

Management

7 active registrations

Executive management

Executive management at Learningbank A/S
NameRoleAppointed
Stine SchulzCEO17/03/2014
John Risør HansenDirector28/11/2022

Board of directors

Board of directors at Learningbank A/S
NameRoleAppointed
Lars Henning BrammerBoard member06/10/2020
Jens SchrøderChair of the board06/10/2020
Jens-Erik ArenfeldtBoard member23/03/2021
Katrine SchelbliBoard member01/01/2023
Mathias Frost BilgramBoard member05/08/2025
Founders
Stine Schulz
Former management (11)
Former management at Learningbank A/S
NameRoleAppointedResigned
Morten LarsenBoard member22/05/201518/04/2018
Klaus Kryder JacobsenChair of the board22/05/201527/12/2016
Stine SchulzBoard member22/05/201527/08/2018
Rasmus Aaen MadsenChair of the board27/12/201618/04/2018
Morten LarsenChair of the board19/04/201815/06/2018
Rasmus Aaen MadsenBoard member19/04/201815/06/2018
Lars Henning BrammerChair of the board15/06/201805/10/2020
Jens SchrøderBoard member15/06/201805/10/2020
Katrine SchelbliBoard member27/08/201812/02/2021
Katrine SchelbliDirector17/08/202031/12/2022
Mette HybschmannBoard member12/02/202131/12/2022

Signing rule: Selskabet tegnes af en direktør og bestyrelsens formand i forening, eller af den samlede bestyrelse.

Address and production units

1 active production units

Holmbladsgade 133
2300 København S

København Municipality · Postcode 2300

Other companies at the address (1)

Production units
Production unitAddressEmployeesP number
Learningbank A/SHolmbladsgade 133, 3, 2300 København S311019237164

Purpose

Selskabets formål er at drive erhvervsdrivende virksomhed, herunder indenfor IT-branchen, samt efter ledelsens skøn hermed beslægtet virksomhed.

The purpose is quoted from the register in Danish.

Changes year by year

81 registered events
20261 changeaccounts 1
  • Annual report for 2025 published
20252 changesmanagement 1 · accounts 1
  • Mathias Frost Bilgram appointed board member
  • Annual report for 2024 published
202410 changescapital 1 · ownership 8 · accounts 1
  • Share capital changed from 948,455 DKK to 1,094,032 DKK
  • Navision Alternative Investments A/S registered as owner (25%)
  • RoosGruppen AB registered as owner (15%)
  • ZSB Holding ApS registered as owner (25%)
  • ARENFELDT INVEST ApS registered as owner (15%)
  • ARENFELDT INVEST ApS is no longer registered as owner
  • Navision Alternative Investments A/S is no longer registered as owner
  • RoosGruppen AB is no longer registered as owner
  • ZSB Holding ApS is no longer registered as owner
  • Annual report for 2023 published
20233 changesaccounts 1 · address 1 · management 1
  • Annual report for 2022 published
  • Moved to Holmbladsgade 133, 3, 2300 København S
  • Katrine Schelbli appointed board member
20224 changesmanagement 3 · accounts 1
  • Mette Hybschmann stepped down as board member
  • Katrine Schelbli stepped down as director
  • John Risør Hansen appointed director
  • Annual report for 2021 published
202112 changescapital 3 · accounts 1 · management 3 · ownership 5
  • Share capital changed from 943,018 DKK to 948,455 DKK
  • Annual report for 2020 published
  • Share capital changed from 937,581 DKK to 943,018 DKK
  • Share capital changed from 713,572 DKK to 937,581 DKK
  • Jens-Erik Arenfeldt appointed board member
  • ARENFELDT INVEST ApS registered as owner (15%)
  • Navision Alternative Investments A/S registered as owner (20%)
  • RoosGruppen AB registered as owner (20%)
  • Navision Alternative Investments A/S is no longer registered as owner
  • RoosGruppen AB is no longer registered as owner
  • Mette Hybschmann appointed board member
  • Katrine Schelbli stepped down as board member
20205 changesmanagement 5
  • Jens Schrøder appointed chair of the board
  • Lars Henning Brammer appointed board member
  • Lars Henning Brammer stepped down as chair of the board
  • Jens Schrøder stepped down as board member
  • Katrine Schelbli appointed director
20193 changescapital 1 · ownership 2
  • Share capital changed from 615,286 DKK to 713,572 DKK
  • ZSB Holding ApS registered as owner (33.33%)
  • ZSB Holding ApS is no longer registered as owner
201816 changesaddress 1 · management 10 · capital 1 · ownership 4
  • Moved to Støberigade 14, 2450 København SV
  • Katrine Schelbli appointed board member
  • Stine Schulz stepped down as board member
  • Share capital changed from 576,917 DKK to 615,286 DKK
  • Lars Henning Brammer appointed chair of the board
  • Jens Schrøder appointed board member
  • Rasmus Aaen Madsen stepped down as board member
  • Morten Larsen stepped down as chair of the board
  • Navision Alternative Investments A/S registered as owner (20%)
  • RoosGruppen AB registered as owner (20%)
  • RAM2 HOLDING ApS is no longer registered as owner
  • SATO HOLDING A/S is no longer registered as owner
  • Rasmus Aaen Madsen appointed board member
  • Morten Larsen appointed chair of the board
  • Rasmus Aaen Madsen stepped down as chair of the board
  • Morten Larsen stepped down as board member
20169 changescapital 1 · management 2 · ownership 5 · address 1
  • Share capital changed from 500,000 DKK to 576,917 DKK
  • Rasmus Aaen Madsen appointed chair of the board
  • Klaus Kryder Jacobsen stepped down as chair of the board
  • ZSB Holding ApS registered as owner (50%)
  • RAM2 HOLDING ApS registered as owner (10%)
  • SATO HOLDING A/S registered as owner (20%)
  • SATO HOLDING A/S is no longer registered as owner
  • ZSB Holding ApS is no longer registered as owner
  • Moved to Støberigade 14, 2450 København SV
201514 changesname 3 · capital 4 · address 1 · management 3 · industry 1 · ownership 2
  • Name changed from Learningbank ApS to Learningbank A/S
  • Share capital changed from 50,000 DKK to 500,000 DKK
  • Name changed from Learningbank IVS to Learningbank ApS
  • Share capital changed from 4 DKK to 50,000 DKK
  • Moved to Teglholm Allé 15, 2450 København SV
  • Share capital changed from 3 DKK to 4 DKK
  • Morten Larsen appointed board member
  • Klaus Kryder Jacobsen appointed chair of the board
  • Stine Schulz appointed board member
  • Industry changed to Other software publishing (582900)
  • SATO HOLDING A/S registered as owner (25%)
  • ZSB Holding ApS registered as owner (66.67%)
  • Name changed from ZLUHCS STAVET BAGFRA HOLDING IVS to Learningbank IVS
  • Share capital changed from 1 DKK to 3 DKK
20142 changesfounded 1 · management 1
  • Registered as ZLUHCS STAVET BAGFRA HOLDING IVS
  • Stine Schulz appointed ceo

Related companies

Same industry in København

See all →

Same people in management

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 CVRReport a correction