Cedulas ApS

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CVR 41190353Bavnevej 162, 8930 Randers NØComputer programming activities· NACE 6210Est. 2020 · 6 years old— employees

Overview

Cedulas ApS is a Danish APS based in Randers NØ, operating in the Computer programming activities sector. Incorporated in 2020, the company reported a gross profit of DKK 5.3k in its latest annual filing.

Gross profit 2025

5.3K DKK

+34% vs 2024

EBITDA margin (of gross profit)

100.0 %

+34% vs 2024

Net profit 2025

4.9K DKK

+467% vs 2024

Key ratios

See full ratios →

84.5 %

Strong

Among the 30% highest rated companies in the industry

20212025

6.5×

Very strong

Among the 20% highest rated companies in the industry

20212025

9.3 %

Strong

Among the 40% highest rated companies in the industry

20212025

EBITDA — year on year

DKK

Key figures

Annual report 2025

Gross profit	5.3K DKK	+34%
EBITDA	5.3K DKK	+34%
Net profit	4.9K DKK	+467%
Total assets	52.7K DKK	+24%
Equity	44.6K DKK	+12%
Employees	—	—

Contact

Address

Bavnevej 162, 8930 Randers NØ

Advertising protection

Active — opted out of marketing use

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Financial development

In its most recent annual report (2025), Cedulas ApS reported a gross profit of DKK 5.3k, an increase of 34% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net profit of DKK 4.9k, and the EBITDA margin stood at 100%.

At the end of 2025, equity financed 84.5% of the balance sheet, and current assets covered short-term debt 6.5 times.

Financials

Revenue

DKK

EBITDA

DKK

Income statement

DKK thousands

Item	2025	2024	2023	2022	2021
Revenue	5	4	-3	4	0
Staff expenses	-0	-0	-0	-0	-0
EBITDA	5	4	-3	4	-5
Depreciation & amort.	-0	-4	-4	-4	-4
EBIT	5	0	-7	1	-8
Net financials	-0	0	-0	-1	-0
Profit before tax	5	0	-7	0	-9
Tax	0	-0	-0	-0	-0
Net profit	5	1	-7	0	-9

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Balance sheet

DKK thousands

Item	2025	2024	2023	2022	2021
Total assets	53	43	41	47	46
Equity	45	40	39	46	45
Long-term debt	0	0	0	0	0
Short-term debt	8	3	3	2	0
Total debt	8	3	3	2	0

Financial ratios

5-year trend

EBITDA margin

100.0 %

20212025

Equity ratio

84.5 %

Strong

Among the 30% highest rated companies in the industry

20212025

Return on equity

11.0 %

Average

Around the average of companies in the same industry

20212025

Net profit margin

93.3 %

20212025

Asset turnover

0.10×

20212025

Debt / equity

0.18×

Strong

Among the 30% highest rated companies in the industry

20212025

Sector performance

22 of 28 ratios graded

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

Profitability

Return on equity (ROE)Average

Around the average of companies in the same industry

Net profit as a percentage of equity — the return the owners earned on their invested capital this year.

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.

Return on net assets (RONA)Average

Around the average of companies in the same industry

Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.

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.

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.

Capacity ratioNot rated

Cannot be graded — the figures this ratio builds on are not available in the latest filing.

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.

Liquidity

Current ratioVery strong

Among the 20% highest 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 strong

Among the 20% highest 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 ratioVery strong

Among the 20% highest rated companies in the industry

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

Current assets to equityAverage

Around the average of companies in the same industry

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 capitalVery strong

Among the 10% highest rated companies in the industry

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.

Cash conversion ratioAverage

Around the average of companies in the same industry

Cash flow relative to profit — the ability to convert reported profits into accessible cash.

Debt & solvency

Solidity ratioStrong

Among the 30% highest 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 ratioStrong

Among the 30% highest rated companies in the industry

Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.

Debt to equityStrong

Among the 30% highest rated companies in the industry

Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.

Liabilities to equityStrong

Among the 30% highest rated companies in the industry

Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.

Income to debtStrong

Among the 30% highest rated companies in the industry

Profit relative to debt — the ability to create earnings while operating with debt.

EBITDA to debtStrong

Among the 30% highest rated companies in the industry

EBITDA relative to debt — how much operating earnings are available to service the debt.

Interest coverageStrong

Among the 30% highest rated companies in the 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 marginStrong

Among the 40% highest rated companies in the 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.

Efficiency & development

Equity to contributed capitalWeak

Among the 30% 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 equityStrong

Among the 40% highest rated companies in the industry

The size of this year's increase or decrease in the company's equity.

One-year change in debtVery weak

Among the 10% lowest 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.

Annual reports & filings

Annual report 2025
Filed via CVR / Virk · Period 2025-01-01 – 2025-12-31
View PDF
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

People & ownership

Management

Actively employed in the business

Name	Role	Member since
Current (4)
MS Magnus Schmidt Rasmussen Founder	Founder	2020
ML Mathias Lejel Schaldemose Chief Executive Officer	Chief Executive Officer	2020
CN Christian Nørgård Founder	Founder	2020
KB Kasper Bjerre Hendrup Andersen Founder	Founder	2020

Board of directors

Non-executive oversight

No data on file.

Shareholders

Active legal owners

Shareholder	Type	Ownership	Votes	Registered
Magnus Schmidt Rasmussen	Individual	50–66.65%	50–66.65%	2022
Mathias Lejel Schaldemose	Individual	50–66.65%	50–66.65%	2022
Christian Nørgård	Individual	15–19.99%	15–19.99%	2020
Kasper Bjerre Hendrup Andersen	Individual	15–19.99%	15–19.99%	2020

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Related companies

Company hierarchy

No registered parent or subsidiaries

Board network connections

Board members of Cedulas ApS also hold positions in 4 other companies.

Person	Role here	Other companies
Kasper Bjerre Hendrup Andersen	Founder	3 companies
Christian Nørgård	Founder	1 company

Frequently asked questions

What is the CVR number of Cedulas ApS?

Cedulas ApS is registered with CVR / Virk under CVR 41190353.

What is the gross profit of Cedulas ApS?

Cedulas ApS reported a gross profit of DKK 5.3k in 2025.

Who is the CEO of Cedulas ApS?

Mathias Lejel Schaldemose is the CEO of Cedulas ApS.

Where is Cedulas ApS headquartered?

Cedulas ApS's registered address is Bavnevej 162.