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.

Follow
PDF reportCompare

Key figures · financial year 2025

Gross profit−DKK 30.9m−10.6% vs. 2024
Net profit−DKK 60.3m−76.4% vs. 2024
EquityDKK 656.7m−16.4% vs. 2024
Employees2latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 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 thousand

Equity and net profit

−DKK 200mDKK 0DKK 200mDKK 400mDKK 600mDKK 800m202020212022202320242025
EquityNet profit
Financial figures for SEAL Alternatives A/S
202020212022202320242025Change
Revenuenot statednot statednot statednot statednot statednot 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 tax5,96926,74321,611−46,988−30,758−61,911−101.3%
Net profit6,26126,54322,752−41,789−34,172−60,269−76.4%
Total assets389,541549,573682,210755,831787,365661,933−15.9%
Equity389,321541,495678,860738,586785,761656,654−16.4%
Liabilities2208,0783,35017,2451,6055,279+228.9%
Cash and cash equivalents95,778142,54734,1482,79224,5003,135−87.2%
Average number of employees––––00–

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 35m−DKK 30m−DKK 25m−DKK 20m−DKK 15m−DKK 10m−DKK 5mDKK 0202020212022202320242025
Gross profitMedian, the industry (655 companies)

Signals from the financial statements

calculated from the 2025 figures
  • Loss 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
Annual reports for SEAL Alternatives A/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202524/06/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202430/06/2025The companyPDFXBRL
202301/01/2023 – 31/12/202320/06/2024The companyPDFXBRL
202201/01/2022 – 31/12/202201/06/2023The companyPDFXBRL
202101/01/2021 – 31/12/202110/06/2022The companyPDFXBRL
202001/01/2020 – 31/12/202007/06/2021The 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.

Position in the industry

655 companies in the database

Comparison with the other companies in investment on own account based on the latest financial year.

Gross profit−DKK 30.9mNo. 620 of 623
Better than 0% of the companies in the industry
EquityDKK 656.7mNo. 41 of 655
Better than 94% of the companies in the industry
Number of employees2No. 518 of 655
Better than 21% of the companies in the industry

Industry median: gross profit −DKK 36,065, net profit DKK 364k, equity DKK 22.5m, 1 employees.

DKK 100kDKK 968kDKK 9.4mDKK 90.6mDKK 411.3m
Distribution of gross profit for 255 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 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
Gross profit
  1. SEAL Alternatives A/S−DKK 30.9m
  2. Obton A/SDKK 876.4m
  3. MS2 Holding ApSDKK 841.3m
Net profit
  1. SEAL Alternatives A/S−DKK 60.3m
  2. Obton A/SDKK 463.9m
  3. MS2 Holding ApSDKK 136.9m
Equity
  1. SEAL Alternatives A/SDKK 656.7m
  2. Obton A/S−DKK 219.2m
  3. MS2 Holding ApSDKK 1.2bn
Employees
  1. SEAL Alternatives A/S2
  2. Obton A/S11
  3. 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
Owners
SEAL Alternatives A/S
Subsidiaries and ownership shares

Subsidiaries are shown only if they are in the database.

Management

4 active registrations

Executive management

Executive management at SEAL Alternatives A/S
NameRoleAppointed
Marius Kjær KnudsenDirector24/06/2026

Board of directors

Board of directors at SEAL Alternatives A/S
NameRoleAppointed
Tonny ElsbergChair of the board30/12/2025
Carsten Topholt LarsenBoard member30/12/2025
Palle Lund HansenBoard member30/12/2025
Auditor
Grant Thornton, Godkendt Revisionspartnerselskab
Founders
Selected Group A/S
Former management (10)
Former management at SEAL Alternatives A/S
NameRoleAppointedResigned
Allan Dam NielsenChair of the board02/10/201831/08/2021
Johann Daniel LauxDirector02/10/201831/05/2023
Johann Daniel LauxBoard member02/10/201831/05/2023
Jan Stig AndersenBoard member02/10/201831/05/2023
Tonny ElsbergChair of the board07/06/202230/05/2023
Eric Korre HortenChair of the board31/05/202330/12/2025
Tonny ElsbergBoard member31/05/202329/12/2025
Jakub Barnaba Zakrzewski CalumBoard member31/05/202330/12/2025
Tobias Møller JensenCEO31/05/202330/12/2025
Henrik BraaschCEO30/12/202524/06/2026

Signing rule: Selskabet tegnes af direktøren i forening med bestyrelsesformanden eller af den samlede bestyrelse.

Address and production units

1 active production units

Gothersgade 10A
1123 København K

København Municipality · Postcode 1123

Other companies at the address (1)

Production units
Production unitAddressEmployeesP number
SEAL Alternatives A/SGothersgade 10A, 1, 1123 København K21024029634

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 events
20266 changesmanagement 2 · accounts 1 · name 1 · address 1 · ownership 1
  • Marius Kjær Knudsen appointed director
  • Henrik Braasch stepped down as ceo
  • Annual report for 2025 published
  • Name changed from Selected Alternatives A/S to SEAL Alternatives A/S
  • Moved to Gothersgade 10A, 1, 1123 København K
  • SEAL Asset Management ApS registered as owner (0%)
202518 changesmanagement 8 · capital 5 · ownership 3 · accounts 1 · industry 1
  • Palle Lund Hansen appointed board member
  • Henrik Braasch appointed ceo
  • Carsten Topholt Larsen appointed board member
  • Tonny Elsberg appointed chair of the board
  • Jakub Barnaba Zakrzewski Calum stepped down as board member
  • Eric Korre Horten stepped down as chair of the board
  • Tobias Møller Jensen stepped down as ceo
  • Tonny Elsberg stepped down as board member
  • Share capital changed from 353,049,014 DKK to 353,440,319 DKK
  • Share capital changed from 351,875,785 DKK to 353,049,014 DKK
  • K. OVERGAARD HOLDING ApS registered as owner (5%)
  • SEAL Alternatives A/S is no longer registered as owner
  • Annual report for 2024 published
  • Share capital changed from 381,365,158 DKK to 351,875,785 DKK
  • Share capital changed from 380,614,214 DKK to 381,365,158 DKK
  • Share capital changed from 380,237,788 DKK to 380,614,214 DKK
  • SEAL Alternatives A/S registered as owner (5%)
  • Industry changed to Investment on own account (649910)
202415 changescapital 13 · accounts 1 · ownership 1
  • Share capital changed from 379,358,225 DKK to 380,237,788 DKK
  • Share capital changed from 373,428,731 DKK to 379,358,225 DKK
  • Share capital changed from 373,046,491 DKK to 373,428,731 DKK
  • Share capital changed from 372,755,822 DKK to 373,046,491 DKK
  • Share capital changed from 372,296,647 DKK to 372,755,822 DKK
  • Share capital changed from 371,336,414 DKK to 372,296,647 DKK
  • Share capital changed from 369,016,101 DKK to 371,336,414 DKK
  • Annual report for 2023 published
  • Share capital changed from 365,055,806 DKK to 369,016,101 DKK
  • K. OVERGAARD HOLDING ApS is no longer registered as owner
  • Share capital changed from 358,850,443 DKK to 365,055,806 DKK
  • Share capital changed from 354,988,025 DKK to 358,850,443 DKK
  • Share capital changed from 349,371,955 DKK to 354,988,025 DKK
  • Share capital changed from 348,524,729 DKK to 349,371,955 DKK
  • Share capital changed from 347,394,497 DKK to 348,524,729 DKK
202324 changescapital 12 · ownership 1 · accounts 1 · management 8 · address 2
  • Share capital changed from 341,120,273 DKK to 347,394,497 DKK
  • Share capital changed from 336,973,090 DKK to 341,120,273 DKK
  • Share capital changed from 331,010,227 DKK to 336,973,090 DKK
  • Share capital changed from 326,802,517 DKK to 331,010,227 DKK
  • Share capital changed from 325,016,659 DKK to 326,802,517 DKK
  • Janina Schulz is no longer registered as owner
  • Share capital changed from 322,420,840 DKK to 325,016,659 DKK
  • Share capital changed from 318,977,412 DKK to 322,420,840 DKK
  • Share capital changed from 317,185,039 DKK to 318,977,412 DKK
  • Annual report for 2022 published
  • Jakub Barnaba Zakrzewski Calum appointed board member
  • Eric Korre Horten appointed chair of the board
  • Tonny Elsberg appointed board member
  • Tobias Møller Jensen appointed ceo
  • Jan Stig Andersen stepped down as board member
  • Johann Daniel Laux stepped down as board member
  • Johann Daniel Laux stepped down as director
  • Tonny Elsberg stepped down as chair of the board
  • Moved to Esplanaden 8C, 2, 1263 København K
  • Share capital changed from 312,074,149 DKK to 317,185,039 DKK
  • Moved to Store Torv 3C, 2, 8000 Aarhus C
  • Share capital changed from 308,666,859 DKK to 312,074,149 DKK
  • Share capital changed from 300,151,265 DKK to 308,666,859 DKK
  • Share capital changed from 298,304,717 DKK to 300,151,265 DKK
202215 changesownership 2 · capital 11 · accounts 1 · management 1
  • Rita Elke Schulz is no longer registered as owner
  • Share capital changed from 296,043,810 DKK to 298,304,717 DKK
  • Share capital changed from 294,889,263 DKK to 296,043,810 DKK
  • Share capital changed from 293,486,782 DKK to 294,889,263 DKK
  • Share capital changed from 289,113,656 DKK to 293,486,782 DKK
  • Share capital changed from 287,959,454 DKK to 289,113,656 DKK
  • K. OVERGAARD HOLDING ApS registered as owner (5%)
  • Annual report for 2021 published
  • Tonny Elsberg appointed chair of the board
  • Share capital changed from 265,539,617 DKK to 287,959,454 DKK
  • Share capital changed from 261,268,950 DKK to 265,539,617 DKK
  • Share capital changed from 260,645,199 DKK to 261,268,950 DKK
  • Share capital changed from 256,067,373 DKK to 260,645,199 DKK
  • Share capital changed from 251,027,246 DKK to 256,067,373 DKK
  • Share capital changed from 241,269,614 DKK to 251,027,246 DKK
202118 changescapital 10 · management 1 · ownership 5 · name 1 · accounts 1
  • Share capital changed from 230,305,141 DKK to 241,269,614 DKK
  • Share capital changed from 227,786,977 DKK to 230,305,141 DKK
  • Share capital changed from 225,968,440 DKK to 227,786,977 DKK
  • Share capital changed from 222,508,480 DKK to 225,968,440 DKK
  • Allan Dam Nielsen stepped down as chair of the board
  • Share capital changed from 210,535,432 DKK to 222,508,480 DKK
  • HOLMEGAARD MORS ApS registered as owner (5%)
  • HOLMEGAARD MORS ApS is no longer registered as owner
  • Share capital changed from 199,977,971 DKK to 210,535,432 DKK
  • Name changed from Norvest A/S to Selected Alternatives A/S
  • Annual report for 2020 published
  • Share capital changed from 198,906,940 DKK to 199,977,971 DKK
  • Share capital changed from 197,938,404 DKK to 198,906,940 DKK
  • Share capital changed from 196,425,416 DKK to 197,938,404 DKK
  • Rita Elke Schulz registered as owner (5%)
  • Rita Elke Schulz is no longer registered as owner
  • Share capital changed from 179,941,937 DKK to 196,425,416 DKK
  • Janina Schulz registered as owner (5%)
202012 changescapital 8 · ownership 4
  • Share capital changed from 172,033,159 DKK to 179,941,937 DKK
  • VILLY BRUUN HOLDING A/S is no longer registered as owner
  • VILLY BRUUN HOLDING A/S registered as owner (5%)
  • Share capital changed from 150,872,300 DKK to 172,033,159 DKK
  • Share capital changed from 140,358,007 DKK to 150,872,300 DKK
  • Rita Elke Schulz registered as owner (10%)
  • Rita Elke Schulz is no longer registered as owner
  • Share capital changed from 134,057,778 DKK to 140,358,007 DKK
  • Share capital changed from 124,109,879 DKK to 134,057,778 DKK
  • Share capital changed from 120,452,053 DKK to 124,109,879 DKK
  • Share capital changed from 118,639,909 DKK to 120,452,053 DKK
  • Share capital changed from 103,746,355 DKK to 118,639,909 DKK
201976 changescapital 14 · ownership 60 · address 2
  • Share capital changed from 97,222,047 DKK to 103,746,355 DKK
  • Share capital changed from 82,200,879 DKK to 97,222,047 DKK
  • HOLMEGAARD MORS ApS registered as owner (10%)
  • THOMAS NYMAND HOLDING ApS is no longer registered as owner
  • Share capital changed from 73,100,412 DKK to 82,200,879 DKK
  • THOMAS NYMAND HOLDING ApS registered as owner (5%)
  • Stehr ApS is no longer registered as owner
  • Share capital changed from 65,064,149 DKK to 73,100,412 DKK
  • Pac-Man ApS is no longer registered as owner
  • SJ HOLDING 2013 ApS is no longer registered as owner
  • Share capital changed from 63,454,101 DKK to 65,064,149 DKK
  • Moved to Godthåbsvej 33, 8660 Skanderborg
  • Share capital changed from 48,794,251 DKK to 63,454,101 DKK
  • Rita Elke Schulz registered as owner (15%)
  • ERIK GULDMANN INVEST ApS is no longer registered as owner
  • MBS 36 HOLDING A/S is no longer registered as owner
  • Share capital changed from 46,397,251 DKK to 48,794,251 DKK
  • Moved to Godthåbsvej 33, 8660 Skanderborg
  • Share capital changed from 41,149,501 DKK to 46,397,251 DKK
  • Pac-Man ApS registered as owner (5%)
  • Share capital changed from 22,859,251 DKK to 41,149,501 DKK
  • ERIK GULDMANN INVEST ApS registered as owner (5%)
  • MBS 36 HOLDING A/S registered as owner (5%)
  • SJ HOLDING 2013 ApS registered as owner (5%)
  • Stehr ApS registered as owner (5%)
  • HENRIK LANGE HOLDING ApS is no longer registered as owner
  • JMA ØRBÆK ApS is no longer registered as owner
  • L A HOLDING ApS is no longer registered as owner
  • Stehr ApS is no longer registered as owner
  • Share capital changed from 16,836,501 DKK to 22,859,251 DKK
  • HENRIK LANGE HOLDING ApS registered as owner (5%)
  • JMA ØRBÆK ApS registered as owner (5%)
  • Stehr ApS registered as owner (15%)
  • Frank Virenfeldt Nielsen is no longer registered as owner
  • MÅBJERG ApS is no longer registered as owner
  • GJBAK HOLDING ApS is no longer registered as owner
  • Asger Briete Wiuff is no longer registered as owner
  • FSMT HOLDING ApS is no longer registered as owner
  • mn76invest ApS is no longer registered as owner
  • SIMBERTHO HOLDING ApS is no longer registered as owner
  • Henning Andreas Brogaard is no longer registered as owner
  • JMA ØRBÆK ApS is no longer registered as owner
  • Share capital changed from 11,316,001 DKK to 16,836,501 DKK
  • L A HOLDING ApS registered as owner (5%)
  • Frank Virenfeldt Nielsen registered as owner (5%)
  • MÅBJERG ApS registered as owner (5%)
  • GJBAK HOLDING ApS registered as owner (5%)
  • JMA ØRBÆK ApS registered as owner (10%)
  • THOMAS NYMAND HOLDING ApS is no longer registered as owner
  • HENLA HOLDING ApS is no longer registered as owner
  • JMA ØRBÆK ApS is no longer registered as owner
  • L A HOLDING ApS is no longer registered as owner
  • Share capital changed from 6,444,001 DKK to 11,316,001 DKK
  • Asger Briete Wiuff registered as owner (5%)
  • THOMAS NYMAND HOLDING ApS registered as owner (5%)
  • FSMT HOLDING ApS registered as owner (5%)
  • mn76invest ApS registered as owner (5%)
  • JMA ØRBÆK ApS registered as owner (15%)
  • L A HOLDING ApS registered as owner (10%)
  • HENLA HOLDING ApS registered as owner (5%)
  • SIMBERTHO HOLDING ApS registered as owner (5%)
  • Henning Andreas Brogaard registered as owner (5%)
  • LRB Invest ApS is no longer registered as owner
  • SH2004 A/S is no longer registered as owner
  • Henning Andreas Brogaard is no longer registered as owner
  • THOMAS NYMAND HOLDING ApS is no longer registered as owner
  • mn76invest ApS is no longer registered as owner
  • JMA ØRBÆK ApS is no longer registered as owner
  • Share capital changed from 1,498,501 DKK to 6,444,001 DKK
  • Henning Andreas Brogaard registered as owner (15%)
  • LRB Invest ApS registered as owner (5%)
  • THOMAS NYMAND HOLDING ApS registered as owner (10%)
  • mn76invest ApS registered as owner (15%)
  • JMA ØRBÆK ApS registered as owner (25%)
  • SH2004 A/S registered as owner (5%)
  • Share capital changed from 400,000 DKK to 1,498,501 DKK
20185 changesfounded 1 · management 4
  • Registered as Norvest A/S
  • Allan Dam Nielsen appointed chair of the board
  • Jan Stig Andersen appointed board member
  • Johann Daniel Laux appointed board member
  • Johann Daniel Laux appointed director

Related companies

Same people in management

Largest in the industry

See all →

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