Nicolaisen & Larsen A/S
Public limited companyCVR 45150615UlfborgActive
Nicolaisen & Larsen A/S is a public limited company, based in Ulfborg, active in wholesale of mining, construction and civil engineering machinery, founded in 1962. The company made a loss in both 2024 and 2025, most recently DKK 11.9m. With 30 employees, the company is about 4 times larger than the industry median. Equity fell to DKK 8.9m in 2025.
Key figures · financial year 2025
Gross profitDKK 13.3m−38.9% vs. 2024
Net profit−DKK 11.9m−43.6% vs. 2024
EquityDKK 8.9m−57.3% vs. 2024
Employees30latest month from CVR
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- Gross profit fell 39% (2024 → 2025), to DKK 13.3m.
- The loss grew: from DKK 8.3m to DKK 11.9m (2024 → 2025).
- Equity fell 57% (2024 → 2025), to DKK 8.9m.
Employees
- 4 fewer employees than a year earlier: 30 (07/2026) against 34 (07/2025).
Management and owners, last 24 months
- New in management: Zaza Olesen Hamann (board member, 02/03/2026), Per Schak Andreasen (chair of the board, 02/03/2026) and Christian Elbrønd (board member, 02/03/2026) (+3).
- Stepped down: Arjaen Rogier van der Linde (board member, 02/03/2026), Jerôme Elisabeth Paul Maria Hermans (chair of the board, 02/03/2026) and Karina Obling Petersen (ceo, 02/03/2026) (+1).
- New owners registered: Brøns Group ApS (02/03/2026).
- No longer registered as owner: Royal Reesink B.V. (02/03/2026).
Registrations, last 24 months
- 26/02/2026: Share capital changed from 3,000,000 DKK to 3,100,000 DKK
- 01/01/2025: Industry changed to Wholesale of mining, construction and civil engineering machinery (466300)
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 | 118,963 | not stated | not stated | – |
| Gross profit | 30,077 | 23,479 | 29,825 | 17,846 | 21,777 | 13,296 | −38.9% |
| Operating profit (EBIT) | 1,771 | 1,411 | 2,655 | −9,353 | −4,752 | −9,045 | −90.4% |
| Profit before tax | 1,006 | 227 | 592 | −12,265 | −8,931 | −12,407 | −38.9% |
| Net profit | 1,006 | 227 | 1,289 | −11,140 | −8,304 | −11,923 | −43.6% |
| Total assets | 90,593 | 79,532 | 120,409 | 118,470 | 108,222 | 96,745 | −10.6% |
| Equity | 66,053 | 56,280 | 40,269 | 29,128 | 20,825 | 8,902 | −57.3% |
| Liabilities | 24,540 | 23,252 | 80,140 | – | 87,398 | 87,519 | +0.1% |
| Cash and cash equivalents | 4,697 | 7,063 | 7,394 | 7,366 | 4,904 | 10,616 | +116.5% |
| Average number of employees | 56 | 39 | 42 | 42 | 38 | 33 | −13.2% |
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, 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 figuresLoss for 3 years in a row
Net result has been negative in 2023–2025.
How is this calculated?
Net result is negative in the two or more latest annual reports in a row.
Equity fell sharply
Equity fell 57% from 2024 to 2025 (DKK 20.8m to DKK 8.9m).
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 | 01/01/2025 – 31/12/2025 | 19/06/2026 | The company | PDF not statedXBRL |
| 2024 | 01/01/2024 – 31/12/2024 | 25/06/2025 | The company | PDF not statedXBRL |
| 2023 | 01/01/2023 – 31/12/2023 | 26/06/2024 | The company | PDF not statedXBRL |
| 2022 | 01/01/2022 – 31/12/2022 | 21/06/2023 | The company | PDFXBRL |
| 2021 | 01/05/2020 – 30/04/2021 | 28/06/2022 | The company | PDFXBRL |
| 2020 | 01/05/2019 – 30/04/2020 | 28/09/2020 | 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
101 companies in the databaseComparison with the other companies in wholesale of mining, construction and civil engineering machinery based on the latest financial year.
Gross profitDKK 13.3mNo. 34 of 101
Better than 67% of the companies in the industry
EquityDKK 8.9mNo. 49 of 101
Better than 52% of the companies in the industry
Number of employees30No. 17 of 101
Better than 84% of the companies in the industry
Industry median: gross profit DKK 7.9m, net profit DKK 1.1m, equity DKK 8.8m, 8 employees.
Compared with similar companies
size, age and company form| Group | Gross profit | Equity |
|---|---|---|
| Companies with 20–49 employees9,922 companies in the comparison | No. 4,651of 9,892 Better than 53% | No. 3,351of 9,922 Better than 66% |
| Same industry and 20–49 employees19 companies in the comparison | No. 15of 19 Better than 22% | No. 17of 19 Better than 11% |
| Companies that are at least 30 years old10,276 companies in the comparison | No. 3,610of 10,152 Better than 64% | No. 5,002of 10,275 Better than 51% |
| All companies of type A/S18,025 companies in the comparison | No. 7,725of 17,786 Better than 57% | No. 9,202of 18,024 Better than 49% |
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
Wholesale of mining, construction and civil engineering machineryGross profit
- Nicolaisen & Larsen A/SDKK 13.3m
- Techtronic Industries Nordic ApSDKK 272.5m
- Volvo Entreprenørmaskiner A/SDKK 203.8m
Net profit
- Nicolaisen & Larsen A/S−DKK 11.9m
- Techtronic Industries Nordic ApSDKK 74.7m
- Volvo Entreprenørmaskiner A/SDKK 25.1m
Equity
- Nicolaisen & Larsen A/SDKK 8.9m
- Techtronic Industries Nordic ApSDKK 78m
- Volvo Entreprenørmaskiner A/SDKK 115m
Employees
- Nicolaisen & Larsen A/S30
- Techtronic Industries Nordic ApS217
- Volvo Entreprenørmaskiner A/S142
Latest financial year per company. Choose up to three companies from the largest in the industry.
Owners and group
from the Public Ownership RegisterOwners
- Brøns Group ApS100%
Nicolaisen & Larsen A/S
Management
6 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Dan Hamann | Director | 02/03/2026 |
Board of directors
| Name | Role | Appointed |
|---|---|---|
| Zaza Olesen Hamann | Board member | 02/03/2026 |
| Per Schak Andreasen | Chair of the board | 02/03/2026 |
| Christian Elbrønd | Board member | 02/03/2026 |
| Dan Hamann | Board member | 02/03/2026 |
| Lars Steen Nielsen | Board member | 02/03/2026 |
Former management (33)
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| Peder Ravn | Board member | 08/10/1962 | 26/06/2008 |
| Christian Rimestad | Board member | 08/10/1962 | 30/09/1996 |
| Kathrine Nicolaisen | Board member | 08/10/1962 | 14/03/1991 |
| Andreas Nicolaisen | Board member | 08/10/1962 | 07/12/1997 |
| Andreas Nicolaisen | Director | 08/10/1962 | 07/12/1997 |
| Niels Gade | Board member | 01/05/1998 | 17/06/2015 |
| Mads Pedersen | CEO | 28/03/2008 | 04/11/2014 |
| Lars Peder Løkke | Board member | 26/06/2008 | 01/04/2016 |
| Peder Nicolaisen | Board member | 26/06/2008 | 19/03/2021 |
| Mads Pedersen | Chair of the board | 04/11/2014 | 17/06/2015 |
| Susanne Nicolaisen | Board member | 04/11/2014 | 19/03/2021 |
| Susanne Nicolaisen | CEO | 04/11/2014 | 31/12/2015 |
| Niels Gade | Chair of the board | 18/06/2015 | 19/03/2021 |
| Mads Pedersen | Board member | 18/06/2015 | 01/04/2016 |
| Morten Krusborg | CEO | 01/01/2016 | 31/10/2019 |
| Bjarne Hedelund Hessel | Board member | 01/04/2016 | 17/05/2016 |
| Hans Henrik Okstrøm | Board member | 01/04/2016 | 19/03/2021 |
| Gerner Henrik Hoppe | Board member | 01/06/2016 | 29/06/2018 |
| Per Bo Stjernqvist | Board member | 03/09/2018 | 21/09/2018 |
| Susanne Nicolaisen | CEO | 31/10/2019 | 19/03/2021 |
| Per Bo Stjernqvist | Board member | 19/03/2021 | 01/07/2022 |
| Per Bo Stjernqvist | CEO | 19/03/2021 | 01/07/2022 |
| Gerrit van der Scheer | Chair of the board | 19/03/2021 | 09/08/2021 |
| Adrianus Petrus van den Bosch | Board member | 19/03/2021 | 08/08/2021 |
| Adrianus Petrus van den Bosch | Chair of the board | 09/08/2021 | 01/10/2022 |
| Boris Nikolaus Schoepplein | Board member | 09/08/2021 | 01/02/2023 |
| Bo Moldrup Nørgaard | Board member | 01/07/2022 | 30/09/2024 |
| Bo Moldrup Nørgaard | CEO | 01/07/2022 | 30/09/2024 |
| Jannes Bouman | Chair of the board | 01/10/2022 | 08/04/2024 |
| Arjaen Rogier van der Linde | Board member | 01/02/2023 | 02/03/2026 |
| Jerôme Elisabeth Paul Maria Hermans | Chair of the board | 08/04/2024 | 02/03/2026 |
| Karina Obling Petersen | CEO | 01/09/2024 | 02/03/2026 |
| Karina Obling Petersen | Board member | 01/10/2024 | 02/03/2026 |
Signing rule: Selskabet tegnes af den samlede bestyrelse i forening, af 2 bestyrelsesmedlemmer i forening eller af en direktør.
Address and production units
2 active production unitsHolmegade 58
6990 Ulfborg
| Production unit | Address | Employees | P number |
|---|---|---|---|
| NICOLAISEN & LARSEN A/S | Holmegade 58, 6990 Ulfborg | 12 | 1003083705 |
| NICOLAISEN & LARSEN A/S | Kærup Parkvej 3, Benløse, 4100 Ringsted | 7 | 1003083717 |
Purpose
Selskabets formål er at drive handel med og servicering af maskiner til industri, landbrug samt bygge-og anlægsvirksomhed.
The purpose is quoted from the register in Danish.
Changes year by year
98 registered events102015
82016
02017
32018
32019
12020
162021
72022
32023
72024
22025
142026
202614 changesaccounts 1 · management 10 · ownership 2 · capital 1
- AccountsAnnual report for 2025 published
- ManagementDan Hamann appointed board member
- ManagementLars Steen Nielsen appointed board member
- ManagementDan Hamann appointed director
- ManagementZaza Olesen Hamann appointed board member
- ManagementChristian Elbrønd appointed board member
- ManagementPer Schak Andreasen appointed chair of the board
- ManagementKarina Obling Petersen stepped down as board member
- ManagementKarina Obling Petersen stepped down as ceo
- ManagementJerôme Elisabeth Paul Maria Hermans stepped down as chair of the board
- ManagementArjaen Rogier van der Linde stepped down as board member
- OwnershipBrøns Group ApS registered as owner (100%)
- OwnershipRoyal Reesink B.V. is no longer registered as owner
- CapitalShare capital changed from 3,000,000 DKK to 3,100,000 DKK
20252 changesaccounts 1 · industry 1
- AccountsAnnual report for 2024 published
- IndustryIndustry changed to Wholesale of mining, construction and civil engineering machinery (466300)
20247 changesmanagement 6 · accounts 1
- ManagementKarina Obling Petersen appointed board member
- ManagementBo Moldrup Nørgaard stepped down as ceo
- ManagementBo Moldrup Nørgaard stepped down as board member
- ManagementKarina Obling Petersen appointed ceo
- AccountsAnnual report for 2023 published
- ManagementJerôme Elisabeth Paul Maria Hermans appointed chair of the board
- ManagementJannes Bouman stepped down as chair of the board
20233 changesaccounts 1 · management 2
- AccountsAnnual report for 2022 published
- ManagementArjaen Rogier van der Linde appointed board member
- ManagementBoris Nikolaus Schoepplein stepped down as board member
20227 changesmanagement 6 · accounts 1
- ManagementJannes Bouman appointed chair of the board
- ManagementAdrianus Petrus van den Bosch stepped down as chair of the board
- ManagementBo Moldrup Nørgaard appointed ceo
- ManagementBo Moldrup Nørgaard appointed board member
- ManagementPer Bo Stjernqvist stepped down as ceo
- ManagementPer Bo Stjernqvist stepped down as board member
- AccountsAnnual report for 2021 published
202116 changesmanagement 13 · ownership 3
- ManagementBoris Nikolaus Schoepplein appointed board member
- ManagementAdrianus Petrus van den Bosch appointed chair of the board
- ManagementGerrit van der Scheer stepped down as chair of the board
- ManagementAdrianus Petrus van den Bosch stepped down as board member
- ManagementPer Bo Stjernqvist appointed ceo
- ManagementAdrianus Petrus van den Bosch appointed board member
- ManagementGerrit van der Scheer appointed chair of the board
- ManagementPer Bo Stjernqvist appointed board member
- ManagementSusanne Nicolaisen stepped down as ceo
- ManagementHans Henrik Okstrøm stepped down as board member
- ManagementNiels Gade stepped down as chair of the board
- ManagementSusanne Nicolaisen stepped down as board member
- ManagementPeder Nicolaisen stepped down as board member
- OwnershipRoyal Reesink B.V. registered as owner (100%)
- OwnershipKATHRINESMINDE HOLDING ApS is no longer registered as owner
- OwnershipVEJSEHUS HOLDING ApS is no longer registered as owner
20201 changeaccounts 1
- AccountsAnnual report for 2020 published
20193 changesmanagement 2 · capital 1
- ManagementSusanne Nicolaisen appointed ceo
- ManagementMorten Krusborg stepped down as ceo
- CapitalShare capital changed from 1,500,000 DKK to 3,000,000 DKK
20183 changesmanagement 3
- ManagementPer Bo Stjernqvist stepped down as board member
- ManagementPer Bo Stjernqvist appointed board member
- ManagementGerner Henrik Hoppe stepped down as board member
20168 changescapital 1 · management 7
- CapitalShare capital changed from 1,400,000 DKK to 1,500,000 DKK
- ManagementGerner Henrik Hoppe appointed board member
- ManagementBjarne Hedelund Hessel stepped down as board member
- ManagementHans Henrik Okstrøm appointed board member
- ManagementBjarne Hedelund Hessel appointed board member
- ManagementMads Pedersen stepped down as board member
- ManagementLars Peder Løkke stepped down as board member
- ManagementMorten Krusborg appointed ceo
201510 changesmanagement 5 · ownership 5
- ManagementSusanne Nicolaisen stepped down as ceo
- OwnershipKATHRINESMINDE HOLDING ApS registered as owner (50%)
- OwnershipVEJSEHUS HOLDING ApS registered as owner (50%)
- OwnershipKATHRINESMINDE HOLDING ApS is no longer registered as owner
- OwnershipVEJSEHUS HOLDING ApS is no longer registered as owner
- OwnershipMADS PEDERSEN HOLDING ApS is no longer registered as owner
- ManagementMads Pedersen appointed board member
- ManagementNiels Gade appointed chair of the board
- ManagementMads Pedersen stepped down as chair of the board
- ManagementNiels Gade stepped down as board member
20144 changesmanagement 4
- ManagementSusanne Nicolaisen appointed board member
- ManagementSusanne Nicolaisen appointed ceo
- ManagementMads Pedersen appointed chair of the board
- ManagementMads Pedersen stepped down as ceo
20088 changesownership 3 · management 4 · industry 1
- OwnershipKATHRINESMINDE HOLDING ApS registered as owner (33.33%)
- OwnershipVEJSEHUS HOLDING ApS registered as owner (33.33%)
- ManagementPeder Nicolaisen appointed board member
- ManagementLars Peder Løkke appointed board member
- ManagementPeder Ravn stepped down as board member
- ManagementMads Pedersen appointed ceo
- OwnershipMADS PEDERSEN HOLDING ApS registered as owner (25%)
- IndustryIndustry changed to Wholesale of mining, construction and civil engineering machinery (466300)
20071 changeaddress 1
- AddressMoved to Holmegade 58, 6990 Ulfborg
19981 changemanagement 1
- ManagementNiels Gade appointed board member
19972 changesmanagement 2
- ManagementAndreas Nicolaisen stepped down as director
- ManagementAndreas Nicolaisen stepped down as board member
19961 changemanagement 1
- ManagementChristian Rimestad stepped down as board member
19911 changemanagement 1
- ManagementKathrine Nicolaisen stepped down as board member
19626 changesfounded 1 · management 5
- FoundedRegistered as NICOLAISEN & LARSEN A/S
- ManagementChristian Rimestad appointed board member
- ManagementAndreas Nicolaisen appointed director
- ManagementAndreas Nicolaisen appointed board member
- ManagementKathrine Nicolaisen appointed board member
- ManagementPeder Ravn appointed board member
Related companies
Same people in management
- Ejner Hessel A/Svia Bjarne Hedelund Hessel
- Mch A/Svia Hans Henrik Okstrøm
- Scantruck A/Svia Per Schak Andreasen
- A/S Jydsk Aluminium Industrivia Hans Henrik Okstrøm
- Green Box A/Svia Hans Henrik Okstrøm
- Effection A/Svia Per Schak Andreasen
Largest in the industry
- Techtronic Industries Nordic ApSDKK 272.5m
- Volvo Entreprenørmaskiner A/SDKK 203.8m
- Johs. Møllers Maskiner A/SDKK 154m
- Scantruck A/SDKK 144.9m
- Hilti Danmark A/SDKK 134.3m
- Armatec A/SDKK 88.4m
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.