Frontline Innovation ApS

APSBankruptAdvertising protection

CVR 37543586Industrivej 15, 6510 GramEngineering activities and related technical consultancy· NACE 7112Est. 2016 · 10 years old2 employeeshttps://www.frontline-innovation.com

Overview

Frontline Innovation ApS is a Danish APS based in Gram, operating in the Engineering activities and related technical consultancy sector. Incorporated in 2016, the company has 2 employees and reported a gross profit of DKK 1.1m in its latest annual filing.

Gross profit 2024

1.1M DKK

−267% vs 2023

EBITDA margin (of gross profit)

16.7 %

+113% vs 2023

Net profit 2024

0M DKK

+102% vs 2023

Key ratios

See full ratios →

-145.5 %

Very weak

Among the 10% lowest rated companies in the industry

20202024

0.3×

Very weak

Among the 20% lowest rated companies in the industry

20202024

1.5 %

Average

Around the average of companies in the same industry

20202024

EBITDA — year on year

DKK thousands

Key figures

Annual report 2024

Gross profit	1.1M DKK	-267%
EBITDA	0.2M DKK	+113%
Net profit	0M DKK	+102%
Total assets	1.9M DKK	-31%
Equity	-2.8M DKK	+1%
Employees	2	—

Contact

Address

Industrivej 15, 6510 Gram

Website

https://www.frontline-innovation.com

Advertising protection

Active — opted out of marketing use

Recent events

1 entry

Event

Risika for professionals

Risika provides regulated workflow tools for finance, procurement and compliance teams that need monitoring, alerts and an API.

Visit risika.com

Financial development

In its most recent annual report (2024), Frontline Innovation ApS reported a gross profit of DKK 1.1m. The figures on this page draw on 5 annual filings covering 2020 to 2024. The bottom line showed a net profit of DKK 29.8k, and the EBITDA margin stood at 16.7%.

At the end of 2024, current assets covered short-term debt 0.3 times.

Financials

Gross profit

DKK thousands

EBITDA

DKK thousands

Income statement

DKK thousands

Item	2024	2023	2022	2021	2020
Gross profit	1,137	-681	-104	774	415
Staff expenses	-947	-771	-849	-721	-774
EBITDA	189	-1,452	-953	53	-359
Depreciation & amort.	-83	-81	-61	-47	-42
EBIT	106	-1,533	-1,013	6	-401
Net financials	-76	25	113	-7	-51
Profit before tax	30	-1,508	-901	-1	-452
Tax	-0	111	-0	-111	12
Net profit	30	-1,619	-901	110	-464

Get a credit rating – not just the numbers

Financial statements show the past. Risika gives you a score and a recommended credit limit, so you know what the numbers mean for your risk.

See the credit rating

Balance sheet

DKK thousands

Item	2024	2023	2022	2021	2020
Total assets	1,920	2,783	758	1,307	535
Equity	-2,794	-2,823	-1,205	-304	-453
Long-term debt	450	406	0	15	15
Short-term debt	4,264	5,201	1,962	1,597	973
Total debt	4,714	5,606	1,962	1,611	988

Financial ratios

5-year trend

EBITDA margin (of gross profit)

16.7 %

20202024

Equity ratio

-145.5 %

Very weak

Among the 10% lowest rated companies in the industry

20202024

Return on equity

—

20202024

Net profit margin (of gross profit)

2.6 %

20202024

Asset turnover (of gross profit)

0.59×

20202024

Debt / equity

—

20202024

Sector performance

16 of 28 ratios graded

28 financial ratios from the latest filing, each graded against companies in the same industry.

Profitability

Return on assets (ROA)Average

Around the average of companies in the same industry

Net profit as a percentage of total assets — the return generated on the capital employed.

Basic earning power (BEP)Average

Around the average of companies in the same industry

EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.

Capacity ratioAverage

Around the average of companies in the same 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 ratioVery weak

Among the 20% 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 ratioVery weak

Among the 20% 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 ratioWeak

Among the 30% lowest rated companies in the industry

Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.

Cash conversion ratioVery strong

Among the 10% 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 10% 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 10% 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 debtWeak

Among the 40% lowest rated companies in the 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 debtAverage

Around the average of companies in the same 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 debtStrong

Among the 30% 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 2024
Filed via CVR / Virk · Period 2024-01-01 – 2024-12-31
View PDF
Annual report 2023
Filed via CVR / Virk · Period 2023-01-01 – 2023-12-31
View PDF
Annual report 2022
Filed via CVR / Virk · Period 2022-01-01 – 2022-12-31
View PDF
Annual report 2021
Filed via CVR / Virk · Period 2021-01-01 – 2021-12-31
View PDF
Annual report 2020
Filed via CVR / Virk · Period 2020-01-01 – 2020-12-31
View PDF

People & ownership

Management

Actively employed in the business

Name	Role	Member since
Current (1)
TK Tomas Kiré Hørdum Founder	Founder	2016

Former (1)


LA Lars Andersen Hansen Management	Management	2026 – 2026

Board of directors

Non-executive oversight

Name	Role	Member since

Former (1)


TK Tomas Kiré Hørdum Chairman	Chairman	2016 – 2026

Shareholders

Active legal owners

Shareholder	Type	Ownership	Votes	Registered
ARMSTRONG HOLDING ApS	Company	100%	100%	2026
Tomas Kiré Hørdum	Individual	100%	100%	2016

Beneficial ownership (UBO) data access is restricted in Denmark as of September 2025 per the EU 6th AML Directive. Learn more.

One in three Danish companies experiences fraud

Sound familiar? See how to strengthen your defences and catch suspicious changes in ownership and management in time.

See the fraud module

Related companies

Company hierarchy

ARMSTRONG HOLDING ApS100%

Frontline Innovation ApS (this company)

Board network connections

Board members of Frontline Innovation ApS also hold positions in 6 other companies.

Person	Role here	Other companies
Lars Andersen Hansen	Management	4 companies
Tomas Kiré Hørdum	Founder	2 companies

Frequently asked questions

What is the CVR number of Frontline Innovation ApS?

Frontline Innovation ApS is registered with CVR / Virk under CVR 37543586.

What is the gross profit of Frontline Innovation ApS?

Frontline Innovation ApS reported a gross profit of DKK 1.1m in 2024.

How many employees does Frontline Innovation ApS have?

Frontline Innovation ApS employs 2 people as of the latest annual report.

Where is Frontline Innovation ApS headquartered?

Frontline Innovation ApS's registered address is Industrivej 15.