SEAL Alternatives A/S
Public limited companyCVR 39930587København KActive
SEAL Alternatives A/S is a public limited company, based in København K, active in investment on own account, founded in 2018. The company made a loss in both 2024 and 2025, most recently DKK 60.3m. Equity fell to DKK 656.7m in 2025.
Key figures · financial year 2025
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- The loss grew: from DKK 34.2m to DKK 60.3m (2024 → 2025).
- Equity fell 16% (2024 → 2025), to DKK 656.7m.
Management and owners, last 24 months
- New in management: Tonny Elsberg (chair of the board, 30/12/2025), Carsten Topholt Larsen (board member, 30/12/2025) and Palle Lund Hansen (board member, 30/12/2025) (+2).
- Stepped down: Eric Korre Horten (chair of the board, 30/12/2025), Tonny Elsberg (board member, 29/12/2025) and Jakub Barnaba Zakrzewski Calum (board member, 30/12/2025) (+2).
- New owners registered: K. Overgaard Holding ApS (22/08/2025), SEAL Asset Management ApS (30/01/2026) and SEAL Alternatives A/S (02/01/2025).
- No longer registered as owner: Selected Group A/S (30/01/2026) and SEAL Alternatives A/S (22/08/2025).
Registrations, last 24 months
- 26/02/2026: Name changed from Selected Alternatives A/S to SEAL Alternatives A/S
- 02/02/2026: Moved to Gothersgade 10A, 1, 1123 København K
- 15/12/2025: Share capital changed from 353,049,014 DKK to 353,440,319 DKK
- 17/11/2025: Share capital changed from 351,875,785 DKK to 353,049,014 DKK
- 27/06/2025: Share capital changed from 381,365,158 DKK to 351,875,785 DKK
- 20/05/2025: Share capital changed from 380,614,214 DKK to 381,365,158 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 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 | −1,303 | −3,060 | −4,156 | −15,765 | −27,957 | −30,930 | −10.6% |
| Operating profit (EBIT) | – | – | – | −15,823 | −28,136 | −31,080 | −10.5% |
| Profit before tax | 5,969 | 26,743 | 21,611 | −46,988 | −30,758 | −61,911 | −101.3% |
| Net profit | 6,261 | 26,543 | 22,752 | −41,789 | −34,172 | −60,269 | −76.4% |
| Total assets | 389,541 | 549,573 | 682,210 | 755,831 | 787,365 | 661,933 | −15.9% |
| Equity | 389,321 | 541,495 | 678,860 | 738,586 | 785,761 | 656,654 | −16.4% |
| Liabilities | 220 | 8,078 | 3,350 | 17,245 | 1,605 | 5,279 | +228.9% |
| Cash and cash equivalents | 95,778 | 142,547 | 34,148 | 2,792 | 24,500 | 3,135 | −87.2% |
| Average number of employees | – | – | – | – | 0 | 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 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.
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 | 24/06/2026 | The company | PDF not statedXBRL |
| 2024 | 01/01/2024 – 31/12/2024 | 30/06/2025 | The company | PDFXBRL |
| 2023 | 01/01/2023 – 31/12/2023 | 20/06/2024 | The company | PDFXBRL |
| 2022 | 01/01/2022 – 31/12/2022 | 01/06/2023 | The company | PDFXBRL |
| 2021 | 01/01/2021 – 31/12/2021 | 10/06/2022 | The company | PDFXBRL |
| 2020 | 01/01/2020 – 31/12/2020 | 07/06/2021 | 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.
Position in the industry
655 companies in the databaseComparison with the other companies in investment on own account based on the latest financial year.
Industry median: gross profit −DKK 36,065, net profit DKK 364k, equity DKK 22.5m, 1 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. 69,716of 69,742 Better than 0% | No. 337of 69,964 Better than 100% |
| Same industry and fewer than 20 employees636 companies in the comparison | No. 603of 606 Better than 0% | No. 39of 636 Better than 94% |
| Companies that are between 5 and 14 years old33,688 companies in the comparison | No. 33,563of 33,588 Better than 0% | No. 143of 33,687 Better than 100% |
| All companies of type A/S18,025 companies in the comparison | No. 17,746of 17,786 Better than 0% | No. 572of 18,024 Better than 97% |
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
Investment on own account- SEAL Alternatives A/S−DKK 30.9m
- Obton A/SDKK 876.4m
- MS2 Holding ApSDKK 841.3m
- SEAL Alternatives A/S−DKK 60.3m
- Obton A/SDKK 463.9m
- MS2 Holding ApSDKK 136.9m
- SEAL Alternatives A/SDKK 656.7m
- Obton A/S−DKK 219.2m
- MS2 Holding ApSDKK 1.2bn
- SEAL Alternatives A/S2
- Obton A/S11
- MS2 Holding ApS7
Latest financial year per company. Choose up to three companies from the largest in the industry.
Owners and group
from the Public Ownership Register- Holmegaard Mors ApS5% · 0% votes
- K. Overgaard Holding ApS5% · 0% votes
Subsidiaries are shown only if they are in the database.
Management
4 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Marius Kjær Knudsen | Director | 24/06/2026 |
Board of directors
| Name | Role | Appointed |
|---|---|---|
| Tonny Elsberg | Chair of the board | 30/12/2025 |
| Carsten Topholt Larsen | Board member | 30/12/2025 |
| Palle Lund Hansen | Board member | 30/12/2025 |
- Auditor
- Grant Thornton, Godkendt Revisionspartnerselskab
- Founders
- Selected Group A/S
Former management (10)
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| Allan Dam Nielsen | Chair of the board | 02/10/2018 | 31/08/2021 |
| Johann Daniel Laux | Director | 02/10/2018 | 31/05/2023 |
| Johann Daniel Laux | Board member | 02/10/2018 | 31/05/2023 |
| Jan Stig Andersen | Board member | 02/10/2018 | 31/05/2023 |
| Tonny Elsberg | Chair of the board | 07/06/2022 | 30/05/2023 |
| Eric Korre Horten | Chair of the board | 31/05/2023 | 30/12/2025 |
| Tonny Elsberg | Board member | 31/05/2023 | 29/12/2025 |
| Jakub Barnaba Zakrzewski Calum | Board member | 31/05/2023 | 30/12/2025 |
| Tobias Møller Jensen | CEO | 31/05/2023 | 30/12/2025 |
| Henrik Braasch | CEO | 30/12/2025 | 24/06/2026 |
Signing rule: Selskabet tegnes af direktøren i forening med bestyrelsesformanden eller af den samlede bestyrelse.
Address and production units
1 active production unitsGothersgade 10A
1123 København K
København Municipality · Postcode 1123
Other companies at the address (1)
- SEAL Asset Management ApSFund management activities
| Production unit | Address | Employees | P number |
|---|---|---|---|
| SEAL Alternatives A/S | Gothersgade 10A, 1, 1123 København K | 2 | 1024029634 |
Purpose
Selskabets formål er at skabe langsigtede afkast til dets investorer gennem investering i en bred portefølje af alternative aktiver såsom ejendomme, infrastruktur, alternativ energi, andre alternative investeringer i fysiske aktiver og unoterede lån til virksomheder samt enhver aktivitet, der efter bestyrelsens skøn står i forbindelse hermed.
The purpose is quoted from the register in Danish.
Changes year by year
189 registered events20266 changesmanagement 2 · accounts 1 · name 1 · address 1 · ownership 1
- ManagementMarius Kjær Knudsen appointed director
- ManagementHenrik Braasch stepped down as ceo
- AccountsAnnual report for 2025 published
- NameName changed from Selected Alternatives A/S to SEAL Alternatives A/S
- AddressMoved to Gothersgade 10A, 1, 1123 København K
- OwnershipSEAL Asset Management ApS registered as owner (0%)
202518 changesmanagement 8 · capital 5 · ownership 3 · accounts 1 · industry 1
- ManagementPalle Lund Hansen appointed board member
- ManagementHenrik Braasch appointed ceo
- ManagementCarsten Topholt Larsen appointed board member
- ManagementTonny Elsberg appointed chair of the board
- ManagementJakub Barnaba Zakrzewski Calum stepped down as board member
- ManagementEric Korre Horten stepped down as chair of the board
- ManagementTobias Møller Jensen stepped down as ceo
- ManagementTonny Elsberg stepped down as board member
- CapitalShare capital changed from 353,049,014 DKK to 353,440,319 DKK
- CapitalShare capital changed from 351,875,785 DKK to 353,049,014 DKK
- OwnershipK. OVERGAARD HOLDING ApS registered as owner (5%)
- OwnershipSEAL Alternatives A/S is no longer registered as owner
- AccountsAnnual report for 2024 published
- CapitalShare capital changed from 381,365,158 DKK to 351,875,785 DKK
- CapitalShare capital changed from 380,614,214 DKK to 381,365,158 DKK
- CapitalShare capital changed from 380,237,788 DKK to 380,614,214 DKK
- OwnershipSEAL Alternatives A/S registered as owner (5%)
- IndustryIndustry changed to Investment on own account (649910)
202415 changescapital 13 · accounts 1 · ownership 1
- CapitalShare capital changed from 379,358,225 DKK to 380,237,788 DKK
- CapitalShare capital changed from 373,428,731 DKK to 379,358,225 DKK
- CapitalShare capital changed from 373,046,491 DKK to 373,428,731 DKK
- CapitalShare capital changed from 372,755,822 DKK to 373,046,491 DKK
- CapitalShare capital changed from 372,296,647 DKK to 372,755,822 DKK
- CapitalShare capital changed from 371,336,414 DKK to 372,296,647 DKK
- CapitalShare capital changed from 369,016,101 DKK to 371,336,414 DKK
- AccountsAnnual report for 2023 published
- CapitalShare capital changed from 365,055,806 DKK to 369,016,101 DKK
- OwnershipK. OVERGAARD HOLDING ApS is no longer registered as owner
- CapitalShare capital changed from 358,850,443 DKK to 365,055,806 DKK
- CapitalShare capital changed from 354,988,025 DKK to 358,850,443 DKK
- CapitalShare capital changed from 349,371,955 DKK to 354,988,025 DKK
- CapitalShare capital changed from 348,524,729 DKK to 349,371,955 DKK
- CapitalShare capital changed from 347,394,497 DKK to 348,524,729 DKK
202324 changescapital 12 · ownership 1 · accounts 1 · management 8 · address 2
- CapitalShare capital changed from 341,120,273 DKK to 347,394,497 DKK
- CapitalShare capital changed from 336,973,090 DKK to 341,120,273 DKK
- CapitalShare capital changed from 331,010,227 DKK to 336,973,090 DKK
- CapitalShare capital changed from 326,802,517 DKK to 331,010,227 DKK
- CapitalShare capital changed from 325,016,659 DKK to 326,802,517 DKK
- OwnershipJanina Schulz is no longer registered as owner
- CapitalShare capital changed from 322,420,840 DKK to 325,016,659 DKK
- CapitalShare capital changed from 318,977,412 DKK to 322,420,840 DKK
- CapitalShare capital changed from 317,185,039 DKK to 318,977,412 DKK
- AccountsAnnual report for 2022 published
- ManagementJakub Barnaba Zakrzewski Calum appointed board member
- ManagementEric Korre Horten appointed chair of the board
- ManagementTonny Elsberg appointed board member
- ManagementTobias Møller Jensen appointed ceo
- ManagementJan Stig Andersen stepped down as board member
- ManagementJohann Daniel Laux stepped down as board member
- ManagementJohann Daniel Laux stepped down as director
- ManagementTonny Elsberg stepped down as chair of the board
- AddressMoved to Esplanaden 8C, 2, 1263 København K
- CapitalShare capital changed from 312,074,149 DKK to 317,185,039 DKK
- AddressMoved to Store Torv 3C, 2, 8000 Aarhus C
- CapitalShare capital changed from 308,666,859 DKK to 312,074,149 DKK
- CapitalShare capital changed from 300,151,265 DKK to 308,666,859 DKK
- CapitalShare capital changed from 298,304,717 DKK to 300,151,265 DKK
202215 changesownership 2 · capital 11 · accounts 1 · management 1
- OwnershipRita Elke Schulz is no longer registered as owner
- CapitalShare capital changed from 296,043,810 DKK to 298,304,717 DKK
- CapitalShare capital changed from 294,889,263 DKK to 296,043,810 DKK
- CapitalShare capital changed from 293,486,782 DKK to 294,889,263 DKK
- CapitalShare capital changed from 289,113,656 DKK to 293,486,782 DKK
- CapitalShare capital changed from 287,959,454 DKK to 289,113,656 DKK
- OwnershipK. OVERGAARD HOLDING ApS registered as owner (5%)
- AccountsAnnual report for 2021 published
- ManagementTonny Elsberg appointed chair of the board
- CapitalShare capital changed from 265,539,617 DKK to 287,959,454 DKK
- CapitalShare capital changed from 261,268,950 DKK to 265,539,617 DKK
- CapitalShare capital changed from 260,645,199 DKK to 261,268,950 DKK
- CapitalShare capital changed from 256,067,373 DKK to 260,645,199 DKK
- CapitalShare capital changed from 251,027,246 DKK to 256,067,373 DKK
- CapitalShare capital changed from 241,269,614 DKK to 251,027,246 DKK
202118 changescapital 10 · management 1 · ownership 5 · name 1 · accounts 1
- CapitalShare capital changed from 230,305,141 DKK to 241,269,614 DKK
- CapitalShare capital changed from 227,786,977 DKK to 230,305,141 DKK
- CapitalShare capital changed from 225,968,440 DKK to 227,786,977 DKK
- CapitalShare capital changed from 222,508,480 DKK to 225,968,440 DKK
- ManagementAllan Dam Nielsen stepped down as chair of the board
- CapitalShare capital changed from 210,535,432 DKK to 222,508,480 DKK
- OwnershipHOLMEGAARD MORS ApS registered as owner (5%)
- OwnershipHOLMEGAARD MORS ApS is no longer registered as owner
- CapitalShare capital changed from 199,977,971 DKK to 210,535,432 DKK
- NameName changed from Norvest A/S to Selected Alternatives A/S
- AccountsAnnual report for 2020 published
- CapitalShare capital changed from 198,906,940 DKK to 199,977,971 DKK
- CapitalShare capital changed from 197,938,404 DKK to 198,906,940 DKK
- CapitalShare capital changed from 196,425,416 DKK to 197,938,404 DKK
- OwnershipRita Elke Schulz registered as owner (5%)
- OwnershipRita Elke Schulz is no longer registered as owner
- CapitalShare capital changed from 179,941,937 DKK to 196,425,416 DKK
- OwnershipJanina Schulz registered as owner (5%)
202012 changescapital 8 · ownership 4
- CapitalShare capital changed from 172,033,159 DKK to 179,941,937 DKK
- OwnershipVILLY BRUUN HOLDING A/S is no longer registered as owner
- OwnershipVILLY BRUUN HOLDING A/S registered as owner (5%)
- CapitalShare capital changed from 150,872,300 DKK to 172,033,159 DKK
- CapitalShare capital changed from 140,358,007 DKK to 150,872,300 DKK
- OwnershipRita Elke Schulz registered as owner (10%)
- OwnershipRita Elke Schulz is no longer registered as owner
- CapitalShare capital changed from 134,057,778 DKK to 140,358,007 DKK
- CapitalShare capital changed from 124,109,879 DKK to 134,057,778 DKK
- CapitalShare capital changed from 120,452,053 DKK to 124,109,879 DKK
- CapitalShare capital changed from 118,639,909 DKK to 120,452,053 DKK
- CapitalShare capital changed from 103,746,355 DKK to 118,639,909 DKK
201976 changescapital 14 · ownership 60 · address 2
- CapitalShare capital changed from 97,222,047 DKK to 103,746,355 DKK
- CapitalShare capital changed from 82,200,879 DKK to 97,222,047 DKK
- OwnershipHOLMEGAARD MORS ApS registered as owner (10%)
- OwnershipTHOMAS NYMAND HOLDING ApS is no longer registered as owner
- CapitalShare capital changed from 73,100,412 DKK to 82,200,879 DKK
- OwnershipTHOMAS NYMAND HOLDING ApS registered as owner (5%)
- OwnershipStehr ApS is no longer registered as owner
- CapitalShare capital changed from 65,064,149 DKK to 73,100,412 DKK
- OwnershipPac-Man ApS is no longer registered as owner
- OwnershipSJ HOLDING 2013 ApS is no longer registered as owner
- CapitalShare capital changed from 63,454,101 DKK to 65,064,149 DKK
- AddressMoved to Godthåbsvej 33, 8660 Skanderborg
- CapitalShare capital changed from 48,794,251 DKK to 63,454,101 DKK
- OwnershipRita Elke Schulz registered as owner (15%)
- OwnershipERIK GULDMANN INVEST ApS is no longer registered as owner
- OwnershipMBS 36 HOLDING A/S is no longer registered as owner
- CapitalShare capital changed from 46,397,251 DKK to 48,794,251 DKK
- AddressMoved to Godthåbsvej 33, 8660 Skanderborg
- CapitalShare capital changed from 41,149,501 DKK to 46,397,251 DKK
- OwnershipPac-Man ApS registered as owner (5%)
- CapitalShare capital changed from 22,859,251 DKK to 41,149,501 DKK
- OwnershipERIK GULDMANN INVEST ApS registered as owner (5%)
- OwnershipMBS 36 HOLDING A/S registered as owner (5%)
- OwnershipSJ HOLDING 2013 ApS registered as owner (5%)
- OwnershipStehr ApS registered as owner (5%)
- OwnershipHENRIK LANGE HOLDING ApS is no longer registered as owner
- OwnershipJMA ØRBÆK ApS is no longer registered as owner
- OwnershipL A HOLDING ApS is no longer registered as owner
- OwnershipStehr ApS is no longer registered as owner
- CapitalShare capital changed from 16,836,501 DKK to 22,859,251 DKK
- OwnershipHENRIK LANGE HOLDING ApS registered as owner (5%)
- OwnershipJMA ØRBÆK ApS registered as owner (5%)
- OwnershipStehr ApS registered as owner (15%)
- OwnershipFrank Virenfeldt Nielsen is no longer registered as owner
- OwnershipMÅBJERG ApS is no longer registered as owner
- OwnershipGJBAK HOLDING ApS is no longer registered as owner
- OwnershipAsger Briete Wiuff is no longer registered as owner
- OwnershipFSMT HOLDING ApS is no longer registered as owner
- Ownershipmn76invest ApS is no longer registered as owner
- OwnershipSIMBERTHO HOLDING ApS is no longer registered as owner
- OwnershipHenning Andreas Brogaard is no longer registered as owner
- OwnershipJMA ØRBÆK ApS is no longer registered as owner
- CapitalShare capital changed from 11,316,001 DKK to 16,836,501 DKK
- OwnershipL A HOLDING ApS registered as owner (5%)
- OwnershipFrank Virenfeldt Nielsen registered as owner (5%)
- OwnershipMÅBJERG ApS registered as owner (5%)
- OwnershipGJBAK HOLDING ApS registered as owner (5%)
- OwnershipJMA ØRBÆK ApS registered as owner (10%)
- OwnershipTHOMAS NYMAND HOLDING ApS is no longer registered as owner
- OwnershipHENLA HOLDING ApS is no longer registered as owner
- OwnershipJMA ØRBÆK ApS is no longer registered as owner
- OwnershipL A HOLDING ApS is no longer registered as owner
- CapitalShare capital changed from 6,444,001 DKK to 11,316,001 DKK
- OwnershipAsger Briete Wiuff registered as owner (5%)
- OwnershipTHOMAS NYMAND HOLDING ApS registered as owner (5%)
- OwnershipFSMT HOLDING ApS registered as owner (5%)
- Ownershipmn76invest ApS registered as owner (5%)
- OwnershipJMA ØRBÆK ApS registered as owner (15%)
- OwnershipL A HOLDING ApS registered as owner (10%)
- OwnershipHENLA HOLDING ApS registered as owner (5%)
- OwnershipSIMBERTHO HOLDING ApS registered as owner (5%)
- OwnershipHenning Andreas Brogaard registered as owner (5%)
- OwnershipLRB Invest ApS is no longer registered as owner
- OwnershipSH2004 A/S is no longer registered as owner
- OwnershipHenning Andreas Brogaard is no longer registered as owner
- OwnershipTHOMAS NYMAND HOLDING ApS is no longer registered as owner
- Ownershipmn76invest ApS is no longer registered as owner
- OwnershipJMA ØRBÆK ApS is no longer registered as owner
- CapitalShare capital changed from 1,498,501 DKK to 6,444,001 DKK
- OwnershipHenning Andreas Brogaard registered as owner (15%)
- OwnershipLRB Invest ApS registered as owner (5%)
- OwnershipTHOMAS NYMAND HOLDING ApS registered as owner (10%)
- Ownershipmn76invest ApS registered as owner (15%)
- OwnershipJMA ØRBÆK ApS registered as owner (25%)
- OwnershipSH2004 A/S registered as owner (5%)
- CapitalShare capital changed from 400,000 DKK to 1,498,501 DKK
20185 changesfounded 1 · management 4
- FoundedRegistered as Norvest A/S
- ManagementAllan Dam Nielsen appointed chair of the board
- ManagementJan Stig Andersen appointed board member
- ManagementJohann Daniel Laux appointed board member
- ManagementJohann Daniel Laux appointed director
Related companies
Same industry in København
- Home of Carlsberg A/S139 employees
- DUOS Gruppen A/S28 employees
- Private Equity Advisors ApS22 employees
- MB Shipbrokers Advisory Services A/S21 employees
- Fsn Capital Partners ApS19 employees
- Endavu Fondsmæglerselskab A/S14 employees
Same people in management
- TV 2 Danmark A/Svia Carsten Topholt Larsen
- ECCO Sko A/Svia Jan Stig Andersen
- DK Company Vejle A/Svia Jan Stig Andersen
- Polytech A/Svia Frank Virenfeldt Nielsen
- Food Folk Danmark ApSvia Eric Korre Horten
- Rains ApSvia Jan Stig Andersen
Largest in the industry
- Obton A/SDKK 876.4m
- MS2 Holding ApSDKK 841.3m
- Kapitalen ApSDKK 354.6m
- Link Top Holding A/SDKK 261.4m
- Travelheart Family A/SDKK 256.3m
- NavisionGroup ApSDKK 230m
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.