Bageriet Nørgaard ApS

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CVR 44326833Østergade 7, 7470 Karup JManufacture of bread; manufacture of fresh pastry goods and cakes· NACE 1071Est. 2023 · 3 years old32 employees

Overview

Bageriet Nørgaard ApS is a Danish APS based in Karup J, operating in the Manufacture of bread; manufacture of fresh pastry goods and cakes sector. Incorporated in 2023, the company has 32 employees and reported a gross profit of DKK 7.7m in its latest annual filing.

Gross profit 2025

7.7M DKK

−36% vs 2024

EBITDA margin (of gross profit)

4.4 %

+17% vs 2024

Net profit 2025

0.2M DKK

+118% vs 2024

Key ratios

See full ratios →

23.8 %

Weak

Among the 40% lowest rated companies in the industry

20242025

1.0×

Weak

Among the 30% lowest rated companies in the industry

20242025

21.4 %

Very strong

Among the 20% highest rated companies in the industry

20242025

EBITDA — year on year

DKK thousands

Key figures

Annual report 2025

Gross profit	7.7M DKK	-36%
EBITDA	0.3M DKK	+17%
Net profit	0.2M DKK	+118%
Total assets	1M DKK	-35%
Equity	0.2M DKK	+72%
Employees	32	—

Contact

Address

Østergade 7, 7470 Karup J

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Financial development

In its most recent annual report (2025), Bageriet Nørgaard ApS reported a gross profit of DKK 7.7m, a decrease of 36% on the year before. The figures on this page draw on 2 annual filings covering 2024 to 2025. The bottom line showed a net profit of DKK 211.9k, and the EBITDA margin stood at 4.4%.

At the end of 2025, equity financed 23.8% of the balance sheet, and current assets covered short-term debt 1 times.

Financials

Gross profit

DKK millions

EBITDA

DKK thousands

Income statement

DKK thousands

Item	2025	2024
Gross profit	7,732	12,063
Staff expenses	-7,390	-11,771
EBITDA	342	292
Depreciation & amort.	-49	-155
EBIT	293	138
Net financials	-10	-5
Profit before tax	283	132
Tax	71	35
Net profit	212	97

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Balance sheet

DKK thousands

Item	2025	2024
Total assets	992	1,535
Equity	236	137
Long-term debt	0	0
Short-term debt	736	1,390
Total debt	736	1,390

Financial ratios

5-year trend

EBITDA margin (of gross profit)

4.4 %

20242025

Equity ratio

23.8 %

Weak

Among the 40% lowest rated companies in the industry

20242025

Return on equity

89.8 %

Very strong

Among the 10% highest rated companies in the industry

20242025

Net profit margin (of gross profit)

2.7 %

20242025

Asset turnover (of gross profit)

7.80×

20242025

Debt / equity

3.20×

Very weak

Among the 20% lowest rated companies in the industry

20242025

Sector performance

23 of 28 ratios graded

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

Profitability

Return on equity (ROE)Very strong

Among the 10% highest rated companies in the industry

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

Return on assets (ROA)Very strong

Among the 20% 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)Very strong

Among the 10% highest rated companies in the 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)Very strong

Among the 20% 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 ratioWeak

Among the 40% lowest 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.

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 ratioWeak

Among the 40% lowest rated companies in the industry

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

Current assets to equityVery weak

Among the 20% lowest rated companies in the 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 weak

Among the 20% lowest 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 ratioStrong

Among the 30% highest rated companies in the industry

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

Debt & solvency

Solidity ratioWeak

Among the 40% 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 ratioWeak

Among the 40% 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.

Debt to equityVery weak

Among the 20% lowest rated companies in the industry

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

Liabilities to equityVery weak

Among the 20% lowest 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 40% 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 debtStrong

Among the 40% highest 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 30% 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 capitalAverage

Around the average of companies in the same industry

Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.

One-year change in equityVery strong

Among the 10% 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 strong

Among the 10% 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.

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 2023-09-21 – 2024-12-31
View PDF

People & ownership

Management

Actively employed in the business

Name	Role	Member since
Current (2)
JN Johnny Nørgaard Management	Management	2023
JN Jeanette Nørgaard Chief Executive Officer	Chief Executive Officer	2023

Board of directors

Non-executive oversight

No data on file.

Shareholders

Active legal owners

Shareholder	Type	Ownership	Votes	Registered
Johnny Nørgaard	Individual	90–99.99%	90–99.99%	2023
René Løvkvist	Individual	10–14.99%	10–14.99%	2023

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

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Related companies

Company hierarchy

No registered parent or subsidiaries

Board network connections

Board members of Bageriet Nørgaard ApS also hold positions in 2 other companies.

Person	Role here	Other companies
Johnny Nørgaard	Management	2 companies

Frequently asked questions

What is the CVR number of Bageriet Nørgaard ApS?

Bageriet Nørgaard ApS is registered with CVR / Virk under CVR 44326833.

What is the gross profit of Bageriet Nørgaard ApS?

Bageriet Nørgaard ApS reported a gross profit of DKK 7.7m in 2025.

How many employees does Bageriet Nørgaard ApS have?

Bageriet Nørgaard ApS employs 32 people as of the latest annual report.

Who is the CEO of Bageriet Nørgaard ApS?

Jeanette Nørgaard is the CEO of Bageriet Nørgaard ApS.

Where is Bageriet Nørgaard ApS headquartered?

Bageriet Nørgaard ApS's registered address is Østergade 7.