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MorGen Energy ApS

Private limited companyCVR 42560014EsbjergActive

MorGen Energy ApS is a private limited company, based in Esbjerg, active in manufacture of industrial gases, founded in 2021. The company made a loss in both 2024 and 2025, most recently DKK 1.6m. Equity fell to DKK 33m in 2025.

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Key figures · financial year 2025

Gross profitDKK 765k+108.6% vs. 2024
Net profit−DKK 1.6m+92.5% vs. 2024
EquityDKK 33m−85.3% vs. 2024
Employees9latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • The loss got smaller: from DKK 21.4m to DKK 1.6m (2024 → 2025).
  • Equity fell 85% (2024 → 2025), to DKK 33m.

Employees

  • 6 fewer employees than a year earlier: 9 (07/2026) against 15 (07/2025).

Management and owners, last 24 months

  • New in management: Christos Kosmas (director, 17/02/2025), Mark Fogh Pedersen (director, 21/09/2026) and Sven-Peter Vindeløv (director, 21/09/2026) (+3).
  • Stepped down: Rasmus Bach Nielsen (director, 29/08/2025), Patrick Huber (director, 04/08/2025) and Dmitry Miller (director, 17/02/2025) (+3).

Registrations, last 24 months

  • 25/09/2025: Share capital changed from 14,000 DKK to 15,000 DKK
  • 27/06/2025: Share capital changed from 13,000 DKK to 14,000 DKK
  • 30/01/2025: Share capital changed from 12,064 EUR to 13,000 DKK
  • 01/01/2025: Share capital changed from 90,000 DKK to 12,064 EUR
  • 14/11/2024: Share capital changed from 80,000 DKK to 90,000 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 2022–2025 · amounts in DKK thousand

Equity and net profit

−DKK 50mDKK 0DKK 50mDKK 100mDKK 150mDKK 200m2022202320242025
EquityNet profit
Financial figures for MorGen Energy ApS
2022202320242025Change
Revenue0not statednot statednot stated–
Gross profit−5,367−7,259−8,890765+108.6%
Operating profit (EBIT)−6,086−11,648−21,644−1,585+92.7%
Profit before tax––−21,477−1,614+92.5%
Net profit−6,588−10,203−21,424−1,614+92.5%
Total assets152,681140,239234,41433,965−85.5%
Equity133,412123,209224,78533,017−85.3%
Liabilities19,26917,0309,629948−90.2%
Cash and cash equivalents109,6335,9953,440551−84%
Average number of employees141114+27.3%

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 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 20mDKK 0DKK 20mDKK 40mDKK 60mDKK 80mDKK 100mDKK 120mDKK 140mDKK 160m2022202320242025
Gross profitMedian, the industry (5 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Loss for 4 years in a row

    Net result has been negative in 2022–2025.

    How is this calculated?

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

  • Equity fell sharply

    Equity fell 85% from 2024 to 2025 (DKK 224.8m to DKK 33m).

    How is this calculated?

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

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

4 financial years
Annual reports for MorGen Energy ApS
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202527/05/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202425/06/2025The companyPDFXBRL
202301/01/2023 – 31/12/202308/05/2024The companyPDFXBRL
202223/07/2021 – 31/12/202216/05/2023The 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
024681012141608/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

5 companies in the database

Comparison with the other companies in manufacture of industrial gases based on the latest financial year.

Gross profitDKK 765kNo. 5 of 5
Better than 0% of the companies in the industry
EquityDKK 33mNo. 5 of 5
Better than 0% of the companies in the industry
Number of employees9No. 5 of 5
Better than 0% of the companies in the industry

Industry median: gross profit DKK 161.7m, net profit DKK 34.3m, equity DKK 215.9m, 96 employees.

Compared with similar companies

size, age and company form
Rank among similar companies
GroupGross profitEquity
Companies with fewer than 20 employees69,967 companies in the comparison
No. 49,212of 69,742
Better than 29%
No. 4,166of 69,964
Better than 94%
Companies that are between 5 and 14 years old33,688 companies in the comparison
No. 25,375of 33,588
Better than 24%
No. 1,633of 33,687
Better than 95%
All companies of type ApS66,508 companies in the comparison
No. 47,367of 66,379
Better than 29%
No. 2,936of 66,505
Better than 96%

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

Manufacture of industrial gases
Gross profit
  1. MorGen Energy ApSDKK 765k
  2. Linde Gas A/SDKK 366.5m
  3. Air Liquide Danmark A/SDKK 209.7m
Net profit
  1. MorGen Energy ApS−DKK 1.6m
  2. Linde Gas A/SDKK 201.1m
  3. Air Liquide Danmark A/SDKK 27.8m
Equity
  1. MorGen Energy ApSDKK 33m
  2. Linde Gas A/SDKK 840.6m
  3. Air Liquide Danmark A/SDKK 215.9m
Employees
  1. MorGen Energy ApS9
  2. Linde Gas A/S102
  3. Air Liquide Danmark A/S144

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
  • MorGen Energy AG100%
MorGen Energy ApS

Management

3 active registrations

Executive management

Executive management at MorGen Energy ApS
NameRoleAppointed
Christos KosmasDirector17/02/2025
Mark Fogh PedersenDirector21/09/2026
Sven-Peter VindeløvDirector21/09/2026
Founders
MorGen Energy AG
Former management (8)
Former management at MorGen Energy ApS
NameRoleAppointedResigned
Gunnar WalterDirector23/07/202126/10/2023
Clifford zur NiedenDirector23/07/202115/05/2023
Rasmus Bach NielsenDirector15/09/202129/08/2025
Patrick HuberDirector15/05/202304/08/2025
Dmitry MillerDirector26/10/202317/02/2025
Christine Youhanna Ghobrial YassaDirector17/02/202521/09/2026
Sebastien David Brice GiardDirector17/02/202520/02/2026
Werner LieberherrDirector20/02/202621/09/2026

Signing rule: Selskabet tegnes af to direktører i forening.

Address and production units

1 active production units

Borgergade 38
6700 Esbjerg

Esbjerg Municipality · Postcode 6700

Production units
Production unitAddressEmployeesP number
MorGen Energy ApSBorgergade 38, 1, 6700 Esbjerg91027391040

Purpose

Selskabets formål er at drive virksomhed med handel, service, produktion og dermed forbundne aktiviteter.

The purpose is quoted from the register in Danish.

Changes year by year

36 registered events
20267 changesmanagement 6 · accounts 1
  • Sven-Peter Vindeløv appointed director
  • Mark Fogh Pedersen appointed director
  • Werner Lieberherr stepped down as director
  • Christine Youhanna Ghobrial Yassa stepped down as director
  • Annual report for 2025 published
  • Werner Lieberherr appointed director
  • Sebastien David Brice Giard stepped down as director
202511 changescapital 4 · management 6 · accounts 1
  • Share capital changed from 14,000 DKK to 15,000 DKK
  • Rasmus Bach Nielsen stepped down as director
  • Patrick Huber stepped down as director
  • Share capital changed from 13,000 DKK to 14,000 DKK
  • Annual report for 2024 published
  • Christine Youhanna Ghobrial Yassa appointed director
  • Sebastien David Brice Giard appointed director
  • Christos Kosmas appointed director
  • Dmitry Miller stepped down as director
  • Share capital changed from 12,064 EUR to 13,000 DKK
  • Share capital changed from 90,000 DKK to 12,064 EUR
20246 changescapital 4 · name 1 · accounts 1
  • Share capital changed from 80,000 DKK to 90,000 DKK
  • Name changed from H2 Energy Esbjerg ApS to MorGen Energy ApS
  • Annual report for 2023 published
  • Share capital changed from 70,000 DKK to 80,000 DKK
  • Share capital changed from 60,000 DKK to 70,000 DKK
  • Share capital changed from 50,000 DKK to 60,000 DKK
20235 changesmanagement 4 · accounts 1
  • Dmitry Miller appointed director
  • Gunnar Walter stepped down as director
  • Annual report for 2022 published
  • Patrick Huber appointed director
  • Clifford zur Nieden stepped down as director
20222 changesaddress 1 · capital 1
  • Moved to Borgergade 38, 1, 6700 Esbjerg
  • Share capital changed from 40,000 DKK to 50,000 DKK
20215 changesmanagement 3 · founded 1 · ownership 1
  • Rasmus Bach Nielsen appointed director
  • Registered as H2 Energy Esbjerg ApS
  • Clifford zur Nieden appointed director
  • Gunnar Walter appointed director
  • MorGen Energy AG registered as owner (100%)

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Same people in management

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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.

View in CVRReport a correction