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Subaio ApS

Private limited companyCVR 37766585AalborgActive

Subaio ApS is a private limited company, based in Aalborg, active in computer programming activities, founded in 2016. Equity was negative at the end of 2025 (−DKK 6.2m). The company made a loss in both 2024 and 2025, most recently DKK 4.1m. With 31 employees, the company is about 8 times larger than the industry median.

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Key figures · financial year 2025

Gross profitDKK 16.6m+52.1% vs. 2024
Net profit−DKK 4.1m+71.3% vs. 2024
Equity−DKK 6.2m−192.8% vs. 2024
Employees31latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Gross profit rose 52% (2024 → 2025), to DKK 16.6m.
  • The loss got smaller: from DKK 14.2m to DKK 4.1m (2024 → 2025).

Employees

  • 4 fewer employees than a year earlier: 31 (07/2026) against 35 (07/2025).

Management and owners, last 24 months

  • New in management: Malthe Isbye Adeler-Bjarnø Falck (board member, 02/06/2025), Lucas Tyler Fier (director, 02/06/2025) and Casper Kidmose (board member, 01/05/2026) (+1).
  • Stepped down: Mads Steenberg Lykke (board member, 02/06/2025), Jesper Leth Dammand (board member, 28/04/2025) and Frederrick Tristan Malte Hamann (director, 31/05/2025) (+1).
  • New owners registered: Nykredit Realkredit A/S (17/03/2026).
  • No longer registered as owner: Spar Nord Bank A/S (17/03/2026).

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 20m−DKK 15m−DKK 10m−DKK 5mDKK 0DKK 5mDKK 10mDKK 15mDKK 20m202020212022202320242025
EquityNet profit
Financial figures for Subaio ApS
202020212022202320242025Change
Revenuenot statednot statednot statednot statednot statednot stated–
Gross profit5,0313,6242,9238,78410,92216,611+52.1%
Operating profit (EBIT)−4,036−12,923−20,204−15,750−14,348−4,844+66.2%
Profit before tax−4,081−13,031−20,266−15,774−14,293−4,861+66%
Net profit−3,347−12,432−19,392−15,060−14,200−4,076+71.3%
Total assets8,51025,55323,12620,4769,4096,328−32.7%
Equity1,61318,93718,19412,086−2,114−6,190−192.8%
Liabilities6,8976,6164,9328,39011,52312,518+8.6%
Cash and cash equivalents4,3812,11019,57314,4075,3492,804−47.6%
Average number of employees183139414033−17.5%

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 0DKK 2mDKK 4mDKK 6mDKK 8mDKK 10mDKK 12mDKK 14mDKK 16m202020212022202320242025
Gross profitMedian, the industry (1,661 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Negative equity

    Equity was −DKK 6.2m at the end of 2025.

    How is this calculated?

    Equity in the latest annual report is below zero.

  • Loss for 6 years in a row

    Net result has been negative in 2020–2025.

    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 Subaio ApS
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202515/06/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202418/06/2025The companyPDFXBRL
202301/01/2023 – 31/12/202316/06/2024The companyPDFXBRL
202201/01/2022 – 31/12/202220/06/2023The companyPDFXBRL
202101/01/2021 – 31/12/202119/06/2022The companyPDFXBRL
202001/01/2020 – 31/12/202016/06/2021The 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.

Employees

monthly figures from CVR
0102030405008/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

1,661 companies in the database

Comparison with the other companies in computer programming activities based on the latest financial year.

Gross profitDKK 16.6mNo. 274 of 1,656
Better than 84% of the companies in the industry
Equity−DKK 6.2mNo. 1586 of 1,661
Better than 5% of the companies in the industry
Number of employees31No. 159 of 1,661
Better than 90% of the companies in the industry

Industry median: gross profit DKK 2.6m, net profit DKK 93,491, equity DKK 1m, 4 employees.

DKK 100kDKK 978kDKK 9.6mDKK 93.7mDKK 428.6mHere
Distribution of gross profit for 1,474 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 20–49 employees9,922 companies in the comparison
No. 3,723of 9,892
Better than 62%
No. 9,734of 9,922
Better than 2%
Same industry and 20–49 employees183 companies in the comparison
No. 119of 182
Better than 35%
No. 166of 183
Better than 9%
Companies that are between 5 and 14 years old33,679 companies in the comparison
No. 2,533of 33,579
Better than 92%
No. 33,165of 33,678
Better than 2%
All companies of type ApS66,508 companies in the comparison
No. 3,177of 66,379
Better than 95%
No. 65,870of 66,505
Better than 1%

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

Computer programming activities
Gross profit
  1. Subaio ApSDKK 16.6m
  2. Stibo Systems A/SDKK 916.6m
  3. Trackunit ApSDKK 897.1m
Net profit
  1. Subaio ApS−DKK 4.1m
  2. Stibo Systems A/SDKK 155.9m
  3. Trackunit ApSDKK 206.3m
Equity
  1. Subaio ApS−DKK 6.2m
  2. Stibo Systems A/SDKK 309.7m
  3. Trackunit ApSDKK 1.7bn
Employees
  1. Subaio ApS31
  2. Stibo Systems A/S201
  3. Trackunit ApS249

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
  • Oliver Mikaelsen Invest ApS5%
  • Scott Laursen Holding ApS10%
  • Brian Grøn Jørgensen Holding ApS10%
  • Nordea Bank Abp20%
  • Global PayTech Ventures, LLC20%
  • Nykredit Realkredit A/S20%
Subaio ApS

Management

8 active registrations

Executive management

Executive management at Subaio ApS
NameRoleAppointed
Thomas Kjølby LaursenCEO31/05/2016
Lucas Tyler FierDirector02/06/2025

Board of directors

Board of directors at Subaio ApS
NameRoleAppointed
Thomas Kjølby LaursenBoard member31/05/2016
Martin Oliver MadsenBoard member29/12/2017
Brian Grøn JørgensenChair of the board29/12/2017
Francisco Javier Perez SanchezBoard member04/02/2021
Malthe Isbye Adeler-Bjarnø FalckBoard member02/06/2025
Casper KidmoseBoard member01/05/2026
Founders
Scott Laursen Holding ApS, Brian Grøn Jørgensen Holding ApS
Former management (10)
Former management at Subaio ApS
NameRoleAppointedResigned
Kim ØstergaardChair of the board31/05/201624/10/2017
Brian Grøn JørgensenBoard member31/05/201628/12/2017
Ole MadsenChair of the board24/10/201728/12/2017
Ole MadsenBoard member29/12/201702/02/2021
Thorleif Astrup HallundDirector01/01/201813/08/2019
Mads Steenberg LykkeBoard member18/07/201802/06/2025
Søren NielsenDirector05/09/201925/08/2022
Jesper Leth DammandBoard member03/02/202128/04/2025
Frederrick Tristan Malte HamannDirector05/09/202231/05/2025
John LundsgaardBoard member25/06/202501/05/2026

Signing rule: Selskabet tegnes af bestyrelsesformanden i forening med 1 direktør eller af den samlede bestyrelse.

Address and production units

1 active production units

Gasværksvej 26
9000 Aalborg

Aalborg Municipality · Postcode 9000

Production units
Production unitAddressEmployeesP number
Subaio ApSGasværksvej 26, 1, 9000 Aalborg331021472766

Purpose

Selskabets formål er at drive virksomhed med udvikling af software samt anden virksomhed, der står i forbindelse her-med.

The purpose is quoted from the register in Danish.

Changes year by year

68 registered events
20265 changesaccounts 1 · management 2 · ownership 2
  • Annual report for 2025 published
  • Casper Kidmose appointed board member
  • John Lundsgaard stepped down as board member
  • NYKREDIT REALKREDIT A/S registered as owner (20%)
  • SPAR NORD BANK A/S is no longer registered as owner
20257 changesmanagement 6 · accounts 1
  • John Lundsgaard appointed board member
  • Annual report for 2024 published
  • Malthe Isbye Adeler-Bjarnø Falck appointed board member
  • Lucas Tyler Fier appointed director
  • Mads Steenberg Lykke stepped down as board member
  • Frederrick Tristan Malte Hamann stepped down as director
  • Jesper Leth Dammand stepped down as board member
20241 changeaccounts 1
  • Annual report for 2023 published
20232 changescapital 1 · accounts 1
  • Share capital changed from 166,266 DKK to 171,074 DKK
  • Annual report for 2022 published
20225 changescapital 1 · management 2 · address 1 · accounts 1
  • Share capital changed from 156,250 DKK to 166,266 DKK
  • Frederrick Tristan Malte Hamann appointed director
  • Moved to Gasværksvej 26, 1, 9000 Aalborg
  • Søren Nielsen stepped down as director
  • Annual report for 2021 published
20216 changesaccounts 1 · capital 1 · management 3 · ownership 1
  • Annual report for 2020 published
  • Share capital changed from 125,000 DKK to 156,250 DKK
  • Francisco Javier Perez Sanchez appointed board member
  • Global PayTech Ventures, LLC registered as owner (20%)
  • Jesper Leth Dammand appointed board member
  • Ole Madsen stepped down as board member
20192 changesmanagement 2
  • Søren Nielsen appointed director
  • Thorleif Astrup Hallund stepped down as director
201815 changesownership 10 · address 1 · name 1 · capital 1 · management 2
  • Nordea Bank Abp registered as owner (20%)
  • Nordea Bank AB is no longer registered as owner
  • Moved to Gasværksvej 26, 1, 9000 Aalborg
  • Name changed from SubHub ApS to Subaio ApS
  • Share capital changed from 84,375 DKK to 125,000 DKK
  • Mads Steenberg Lykke appointed board member
  • Nordea Bank AB registered as owner (25%)
  • SPAR NORD BANK A/S registered as owner (20%)
  • Oliver Mikaelsen Invest ApS registered as owner (5%)
  • SCOTT LAURSEN HOLDING ApS registered as owner (10%)
  • Brian Grøn Jørgensen Holding ApS registered as owner (10%)
  • SPAR NORD BANK A/S is no longer registered as owner
  • SCOTT LAURSEN HOLDING ApS is no longer registered as owner
  • Brian Grøn Jørgensen Holding ApS is no longer registered as owner
  • Thorleif Astrup Hallund appointed director
201711 changescapital 3 · management 7 · address 1
  • Share capital changed from 75,000 DKK to 84,375 DKK
  • Ole Madsen appointed board member
  • Martin Oliver Madsen appointed board member
  • Brian Grøn Jørgensen appointed chair of the board
  • Ole Madsen stepped down as chair of the board
  • Brian Grøn Jørgensen stepped down as board member
  • Ole Madsen appointed chair of the board
  • Kim Østergaard stepped down as chair of the board
  • Share capital changed from 68,750 DKK to 75,000 DKK
  • Share capital changed from 62,500 DKK to 68,750 DKK
  • Moved to Bådehavnsvej 13, 1. th, 9000 Aalborg
201614 changescapital 2 · ownership 7 · founded 1 · management 4
  • Share capital changed from 56,250 DKK to 62,500 DKK
  • Share capital changed from 50,000 DKK to 56,250 DKK
  • SPAR NORD BANK A/S registered as owner (33.33%)
  • SCOTT LAURSEN HOLDING ApS registered as owner (25%)
  • Brian Grøn Jørgensen Holding ApS registered as owner (25%)
  • Brian Grøn Jørgensen Holding ApS is no longer registered as owner
  • SCOTT LAURSEN HOLDING ApS is no longer registered as owner
  • Registered as SubHub ApS
  • Brian Grøn Jørgensen appointed board member
  • Kim Østergaard appointed chair of the board
  • Thomas Kjølby Laursen appointed ceo
  • Thomas Kjølby Laursen appointed board member
  • Brian Grøn Jørgensen Holding ApS registered as owner (50%)
  • SCOTT LAURSEN HOLDING ApS registered as owner (50%)

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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.

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