project44 A/S
A/SActiveCVR 37439541Strømmen 6, 9400 NørresundbyComputer programming activities· NACE 6210Est. 2015 · 10 years old9 employees
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Overview
project44 A/S is a Danish A/S based in Nørresundby, operating in the Computer programming activities sector. Incorporated in 2015, the company has 9 employees and reported a gross profit of DKK 29.2m in its latest annual filing.
Gross profit 2026
29.2M DKK
−31% vs 2025
EBITDA margin (of gross profit)
58.2 %
−32% vs 2025
Net profit 2026
12M DKK
-26% vs 2025
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
-32.8 %
Very weakAmong the 20% lowest rated companies in the industry
20222026
Liquidity ratioCurrent assets ÷ Short-term debt
0.8×
WeakAmong the 30% lowest rated companies in the industry
20222026
Return on assets (ROA)Net profit ÷ Total assets × 100
11.2 %
StrongAmong the 40% highest rated companies in the industry
20222026
EBITDA — year on year
DKK millionsKey figures
Annual report 2026| Gross profit | 29.2M DKK | -31% |
| EBITDA | 17M DKK | -32% |
| Net profit | 12M DKK | -26% |
| Total assets | 107.3M DKK | -51% |
| Equity | -35.2M DKK | +25% |
| Employees | 9 | — |
Company information
Legal name
project44 A/S
CVR number
37439541
Legal form
Aktieselskab
NACE code
Founded
20 November 2015 · 10 years
Share capital
DKK 1,600,000
Employees
9 (FTE)
VAT registered
Yes
Audit selected
Yes
Last report
2026-01-31
Financial year
January – December
Signatory rights
Selskabet tegnes af en direktør, en direktør i forening med bestyrelsens formand, af en direktør i forening med et bestyrelsesmedlem eller af den samlede bestyrelse.
Company purpose
Selskabets formål er at drive virksomhed med softwaretrackingløsninger til transportindustrien samt anden dermed efter ledelsens skøn beslægtet virksomhed.
(no translation available)
Address
Strømmen 6, 9400 Nørresundby
Risika for professionals
Risika provides regulated workflow tools for finance, procurement and compliance teams that need monitoring, alerts and an API.
Financial development
In its most recent annual report (2026), project44 A/S reported a gross profit of DKK 29.2m, a decrease of 31% on the year before. The figures on this page draw on 5 annual filings covering 2022 to 2026. The bottom line showed a net profit of DKK 12.0m, and the EBITDA margin stood at 58.2%.
At the end of 2026, current assets covered short-term debt 0.8 times.
Financials
Revenue
DKK millionsEBITDA
DKK millionsIncome statement
DKK thousands| Item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 29,225 | 42,169 | 47,371 | 141,825 | 5,879 |
| Staff expenses | -12,192 | -17,022 | -26,459 | -45,684 | -4,469 |
| EBITDA | 17,009 | 24,998 | 4,619 | 13,356 | 1,410 |
| Depreciation & amort. | -108 | -154 | -565 | -575 | -42 |
| EBIT | 16,901 | 24,844 | 4,054 | 12,781 | 1,368 |
| Net financials | -4,734 | -6,487 | -6,355 | -9,294 | -1,694 |
| Profit before tax | 12,167 | 18,357 | -2,301 | 3,487 | -326 |
| Tax | 170 | 2,082 | 926 | -0 | -0 |
| Net profit | 11,997 | 16,275 | -3,227 | 3,487 | -326 |
Balance sheet
DKK thousands| Item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Total assets | 107,298 | 217,698 | 253,396 | 177,852 | 63,853 |
| Equity | -35,156 | -47,153 | -63,428 | -59,982 | -84,126 |
| Long-term debt | 2,417 | 2,883 | 2,873 | 2,693 | 2,627 |
| Short-term debt | 140,037 | 261,968 | 313,951 | 235,141 | 145,352 |
| Total debt | 142,454 | 264,851 | 316,824 | 237,834 | 147,979 |
Financial ratios
5-year trendEBITDA margin
58.2 %
20222026
Equity ratio
-32.8 %
Very weakAmong the 20% lowest rated companies in the industry
20222026
Return on equity
—
20222026
Net profit margin
41.1 %
20222026
Asset turnover
0.27×
20222026
Debt / equity
—
20222026
Sector performance
16 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Return on assets (ROA)Strong
Among the 40% highest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Basic earning power (BEP)Strong
Among the 40% highest rated companies in the industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioVery strong
Among the 10% highest rated companies in the industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Gross marginNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Not rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on net assets (RONA)Not rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Liquidity
Current ratioWeak
Among the 30% lowest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioWeak
Among the 30% lowest rated companies in the industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioAverage
Around the average of companies in the same industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Cash conversion ratioVery strong
Among the 20% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Current assets to equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Debt & solvency
Solidity ratioVery weak
Among the 20% lowest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioVery weak
Among the 20% lowest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Income to debtAverage
Around the average of companies in the same industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtAverage
Around the average of companies in the same industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageAverage
Around the average of companies in the same industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtWeak
Among the 40% lowest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginAverage
Around the average of companies in the same industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Debt to equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Efficiency & development
Equity to contributed capitalVery weak
Among the 10% lowest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in debtVery strong
Among the 20% highest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Asset turnoverNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
One-year change in equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The size of this year's increase or decrease in the company's equity.
Annual reports & filings
- Annual report 2026Filed via CVR / Virk · Period 2025-02-01 – 2026-01-31
- Annual report 2025Filed via CVR / Virk · Period 2024-02-01 – 2025-01-31
- Annual report 2024Filed via CVR / Virk · Period 2023-02-01 – 2024-01-31
- Annual report 2023Filed via CVR / Virk · Period 2022-02-01 – 2023-01-31
- Annual report 2022Filed via CVR / Virk · Period 2022-01-01 – 2022-01-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
DR Chief Executive Officer | Chief Executive Officer | 2024 |
Former (5)
MB Chief Executive Officer | Chief Executive Officer | 2018 – 2019 |
JB Chief Executive Officer | Chief Executive Officer | 2019 – 2024 |
BM Chief Executive Officer | Chief Executive Officer | 2018 – 2018 |
AK Management | Management | 2017 – 2018 |
JB Chief Executive Officer | Chief Executive Officer | 2015 – 2018 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (3) | ||
DR Board of Directors | Board of Directors | 2024 |
JM Chairman | Chairman | 2018 |
BP Board of Directors | Board of Directors | 2025 |
Former (14)
MB Board of Directors | Board of Directors | 2018 – 2019 |
HB Board of Directors | Board of Directors | 2015 – 2018 |
CB Board of Directors | Board of Directors | 2018 – 2020 |
TJ Board of Directors | Board of Directors | 2023 – 2025 |
JB Board of Directors | Board of Directors | 2019 – 2024 |
JA Deputy Chairman | Deputy Chairman | 2015 – 2018 |
NC Board of Directors | Board of Directors | 2017 – 2018 |
FW Board of Directors | Board of Directors | 2015 – 2018 |
MP Board of Directors | Board of Directors | 2018 – 2018 |
DC Board of Directors | Board of Directors | 2020 – 2023 |
UB Board of Directors | Board of Directors | 2015 – 2018 |
MB Chairman | Chairman | 2015 – 2018 |
DJ Board of Directors | Board of Directors | 2018 – 2018 |
JB Board of Directors | Board of Directors | 2015 – 2018 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
Project44 Inc. | Company | 100% | 100% | 2018 |
| Company | 10–14.99% | 10–14.99% | 2017 | |
| Company | 10–14.99% | 10–14.99% | 2017 | |
| Company | 66.67–89.99% | 66.67–89.99% | 2017 |
Beneficial ownership (UBO) data access is restricted in Denmark as of September 2025 per the EU 6th AML Directive. Learn more.
Related companies
Company hierarchy
Project44 Inc.
project44 A/S (this company)Board network connections
Board members of project44 A/S also hold positions in 121 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Jakob Axel Nielsen | Deputy Chairman | 32 companiesMany roles |
| Mads Peter Lübeck | Board of Directors | 26 companiesMany roles |
| Heine Blach Jensen | Board of Directors | 17 companiesMany roles |
| Denis Jean Jørgen Viet-Jacobsen | Board of Directors | 17 companiesMany roles |
| Nina Christiane Movin | Board of Directors | 9 companiesMany roles |
| Michael Bondo Andersen | Chairman | 8 companiesMany roles |
| Jesper Bille Sandgaard Bennike | Chief Executive Officer | 6 companiesMany roles |
| Jørgen Brøndgaard Nielsen | Chief Executive Officer | 2 companies |
| Ulrik Bülow | Board of Directors | 2 companies |
| Frank Winther | Board of Directors | 1 company |
| Jesper Brøckner Nielsen | Board of Directors | 1 company |
Frequently asked questions
What is the CVR number of project44 A/S?
project44 A/S is registered with CVR / Virk under CVR 37439541.
What is the gross profit of project44 A/S?
project44 A/S reported a gross profit of DKK 29.2m in 2026.
How many employees does project44 A/S have?
project44 A/S employs 9 people as of the latest annual report.
Who is the CEO of project44 A/S?
Daniel Ramsgaard is the CEO of project44 A/S, in role since 2024.
Who is the chairman of project44 A/S?
Jett McCandless chairs the board of project44 A/S, in role since 2018.
Where is project44 A/S headquartered?
project44 A/S's registered address is Strømmen 6.