Mads Armgaard ApS
Private limited companyCVR 36945478København ØActive
Mads Armgaard ApS is a private limited company, based in København Ø, active in photographic activities, founded in 2015. The company went from a profit in 2024 to a loss of DKK 236k in 2025. Equity fell to DKK 175k in 2025.
Key figures · financial year 2025
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- Gross profit fell 32% (2024 → 2025), to DKK 935k.
- Net profit went from a profit of DKK 491k to a loss of DKK 236k (2024 → 2025).
- Equity fell 57% (2024 → 2025), to DKK 175k.
Registrations, last 24 months
- 01/01/2025: Industry changed to Photographic activities (742000)
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 | not stated | not stated | not stated | not stated | not stated | not stated | – |
| Gross profit | 528 | 676 | 720 | 1,230 | 1,377 | 935 | −32.1% |
| Operating profit (EBIT) | – | – | −29 | 453 | 642 | −232 | −136.1% |
| Profit before tax | −548 | 26 | −246 | 449 | 635 | −237 | −137.4% |
| Net profit | −552 | 20 | −291 | 346 | 491 | −236 | −148.2% |
| Total assets | 1,203 | 1,583 | 1,379 | 1,722 | 2,029 | 1,994 | −1.7% |
| Equity | −154 | −134 | −425 | −79 | 412 | 175 | −57.4% |
| Liabilities | – | – | 1,804 | 1,801 | 1,616 | 1,819 | +12.5% |
| Cash and cash equivalents | 310 | 6 | 435 | 6 | 432 | 438 | +1.2% |
| Average number of employees | 0 | 0 | 0 | 0 | 1 | 1 | 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
Signals from the financial statements
calculated from the 2025 figuresEquity fell sharply
Equity fell 57% from 2024 to 2025 (DKK 412k to DKK 175k).
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 9% 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 | 01/07/2024 – 30/06/2025 | 04/12/2025 | The company | PDF not statedXBRL |
| 2024 | 01/07/2023 – 30/06/2024 | 17/12/2024 | The company | PDFXBRL |
| 2023 | 01/07/2022 – 30/06/2023 | 12/12/2023 | The company | PDFXBRL |
| 2022 | 01/07/2021 – 30/06/2022 | 12/12/2022 | The company | PDFXBRL |
| 2021 | 01/07/2020 – 30/06/2021 | 11/11/2021 | The company | PDFXBRL |
| 2020 | 01/07/2019 – 30/06/2020 | 17/12/2020 | 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
102 companies in the databaseComparison with the other companies in photographic activities based on the latest financial year.
Industry median: gross profit DKK 1.3m, net profit DKK 76,496, equity DKK 318k, 2 employees.
Compared with similar companies
size, age and company form| Group | Gross profit | Equity |
|---|---|---|
| Companies with fewer than 20 employees69,967 companies in the comparison | No. 45,950of 69,742 Better than 34% | No. 51,500of 69,964 Better than 26% |
| Same industry and fewer than 20 employees96 companies in the comparison | No. 60of 96 Better than 38% | No. 58of 96 Better than 40% |
| Companies that are between 5 and 14 years old33,688 companies in the comparison | No. 23,855of 33,588 Better than 29% | No. 24,540of 33,687 Better than 27% |
| All companies of type ApS66,508 companies in the comparison | No. 44,245of 66,379 Better than 33% | No. 47,590of 66,505 Better than 28% |
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
Photographic activities- Mads Armgaard ApSDKK 935k
- The Lab A/SDKK 35.2m
- Yuri Arcurs Photography ApSDKK 28.4m
- Mads Armgaard ApS−DKK 236k
- The Lab A/SDKK 2.2m
- Yuri Arcurs Photography ApSDKK 11.4m
- Mads Armgaard ApSDKK 175k
- The Lab A/SDKK 15.5m
- Yuri Arcurs Photography ApSDKK 18.4m
- Mads Armgaard ApS2
- The Lab A/S79
- Yuri Arcurs Photography ApS4
Latest financial year per company. Choose up to three companies from the largest in the industry.
Owners and group
from the Public Ownership Register- Mads Armgaard Holding ApS100%
Management
1 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Mads Peter Armgaard | Director | 01/07/2015 |
- Founders
- Mads Armgaard Holding ApS
Signing rule: Selskabet tegnes af direktøren
Address and production units
1 active production unitsVermundsgade 40A
2100 København Ø
| Production unit | Address | Employees | P number |
|---|---|---|---|
| Mads Armgaard ApS | Vermundsgade 40A, 4, 2100 København Ø | 2 | 1020535675 |
Purpose
Selskabets formål er at drive fotografvirksomhed, samt al virksomhed, som efter direktionens skøn er beslægtet hermed.
The purpose is quoted from the register in Danish.
Changes year by year
10 registered events20252 changesaccounts 1 · industry 1
- AccountsAnnual report for 2025 published
- IndustryIndustry changed to Photographic activities (742000)
20241 changeaccounts 1
- AccountsAnnual report for 2024 published
20231 changeaccounts 1
- AccountsAnnual report for 2023 published
20221 changeaccounts 1
- AccountsAnnual report for 2022 published
20211 changeaccounts 1
- AccountsAnnual report for 2021 published
20201 changeaccounts 1
- AccountsAnnual report for 2020 published
20153 changesfounded 1 · management 1 · ownership 1
- FoundedRegistered as Mads Armgaard ApS
- ManagementMads Peter Armgaard appointed director
- OwnershipMADS ARMGAARD HOLDING ApS registered as owner (100%)
Related companies
Same industry in København
- The Lab A/S79 employees
- Zigna ApS19 employees
- Packshotfactory + Wework ApS12 employees
- Trendshots ApS10 employees
- Shutterbug ApS9 employees
- Diakrit Danmark ApS9 employees
Largest in the industry
- The Lab A/SDKK 35.2m
- Yuri Arcurs Photography ApSDKK 28.4m
- Illux A/SDKK 20.8m
- Eftertid A/SDKK 20m
- Modul Foto ApSDKK 13.6m
- Pixelz Services ApSDKK 12.3m
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.