THE PANEL ApS (CVR 18947781) company profile

Ownership

Marianne Femerling Andersen
10% to under 15% of capitalclass Bnotified 6 Oct 2021since 5 Oct 2021
Helena Rosborg Andersen
10% to under 15% of capitalclass Bnotified 6 Oct 2021since 3 Oct 2021
Jakob Femerling Andersen
10% to under 15% of capitalclass Bnotified 6 Oct 2021since 3 Oct 2021
2nd G ApS
CVR 4503546850% to under 66.7% of capital, 100% of votesclass A,Bsince 22 Aug 2024

Holders of 5% or more, from the owner register. CVR records shares in bands, not exact figures.

Former owners (1)

Svend Andersen
50% to under 66.7% of capital, 100% of votesclass A,Bnotified 12 Oct 20211 Nov 1995 to 22 Aug 2024

Control chain

Ultimate controller
Svend Andersen
Holds 100% of capital and votes in 2nd G ApS, since 22 Aug 2024
Capital100%
Votes100%
Holding company
2nd G ApS
CVR 45035468Private limited company (ApS)
Holds 50% to under 66.7% of capital and 100% of votes in THE PANEL ApS, since 22 Aug 2024
Capital50% to under 66.7%
Votes100%
This company
THE PANEL ApS
CVR 18947781

Each holds the one below it. Control follows votes: an owner with 50% or more controls. Each bar shows the registered band, solid to its lower bound and faint across the range CVR records, with a mark at 50%. Dandex estimate, computed 13 Nov 2026.

Owned companies

2 Danish companies.

RNA Investors I ApS
CVR 4232193115% to under 20% of capital and votes
Skyspoc Invest ApS
CVR 3785442510% to under 15% of capital and votesUnder voluntary liquidation

Found by searching the CVR owner register (ejerregister) for THE PANEL ApS as owner: Danish companies it holds 5% or more of, and their holdings one level down. Foreign holdings are not in CVR.

Former holdings (2)

Advice Capital Vision Fund A/S
CVR 382646055% to under 10% of capital and votes14 Oct 2022 to 10 Nov 2022
GLOBAL AVIATION DATA A/S
CVR 2731133410% to under 15% of capital and votes11 Jul 2014 to 9 Apr 2019

Dandex estimates

Legal ownership resolution (ejerforholdenes opløsning): Ends at a personThe chain of majority owners ends at a person, through 1 company; legal owners in the CVR owner register only. Dandex estimate, rule v3, computed 13 Nov 2026.
Control tenure (ejerskabsperiode): Pro: Control tenure (ejerskabsperiode) is in the Pro plan, see pricingHow long the current ultimate controller has held control, from the CVR owner register.
Group position (koncernforhold): Has a parent, and no majority holding in a Danish companyControlled by a company in CVR; it holds 50% or more of no Danish company. Dandex estimate, rule v2, computed 13 Nov 2026.
Signing authority, structured (tegningsregel, struktureret): One person can bind the companyThe registered signing rule lets one person bind the company. Dandex estimate, rule v2, computed 13 Nov 2026.
EU SME size class (SMV-kategori): Not determinedThe 2025 figures fit more than one class: revenue or the balance sheet total that would decide is not filed. Dandex estimate, rule v2, computed 13 Nov 2026.
Long-run headcount growth (beskæftigelsesudvikling siden 1998): Not determinedNo employment figures since Mar 2006. Dandex estimate, rule v1, computed 13 Nov 2026.
Demand cyclicality (konjunkturfølsomhed): Pro: Demand cyclicality (konjunkturfølsomhed) is in the Pro plan, see pricingHow demand for its products moves with the economy, from its industry.
Registry and report headcount compared (ansatte i register og regnskab): Pro: Registry and report headcount compared (ansatte i register og regnskab) is in the Pro plan, see pricingThe report's average employees beside the registry's staff over the same year.
Auditor's report (revisorpåtegning): Assistance without assuranceTagged in the report (cmn:TypeOfAuditorAssistance). Dandex estimate, rules and decision model v1, computed 12 Nov 2026.

Decided by Dandex with fixed rules from CVR and the filed annual reports, and for the auditor's report a calibrated decision model reading the auditor's text, not registered by the company. Each label links to its definition.

People

Current (1)

Svend AndersenExecutive board since 1 Nov 1995

Founders (1)

VICTOR CHRISTOFFERSEN ApSFounded 1 Nov 1995

CVR records founders at incorporation. It does not record whether they are alive or still involved.

Former (3)

Victor ChristoffersenExecutive board 1 Nov 1995 to 28 Mar 1996
Nis Jørn BennetzenAuditor 1 Nov 1995 to 28 Mar 1996
ANDERSEN STATSAUTORISERET REVISIONSAKTIESELSKABAuditor 1 Nov 1995 to 7 Oct 2002

Network

Roles over time

Svend Andersen: Executive board, 1 Nov 1995 to today.

1 Nov 1995 to 13 Nov 2026.

Former (3)

ANDERSEN STATSAUTORISERET REVISIONSAKTIESELSKAB: Auditor, 1 Nov 1995 to 7 Oct 2002.
Victor Christoffersen: Executive board, 1 Nov 1995 to 28 Mar 1996.
Nis Jørn Bennetzen: Auditor, 1 Nov 1995 to 28 Mar 1996.

1 Nov 1995 to 13 Nov 2026.

Executive board (direktion)Other rolesEach bar is one role, from its start to its end or today. Bars in a group share one scale. Source: CVR.

Network

Headcount

EmployeesFTE

Q1 2006, quarterly: no employee count, 0 FTE

Show as table

Registry headcount, 2003 to Q1 2006, oldest left to newest right
Period	2003	2004	Q1 2005	Q2 2005	Q3 2005	Q4 2005	Q1 2006
Employees	1	1	No count	No count	No count	No count	No count
FTE	1	1	1	0	0	0	0
Series	Annual	Annual	Quarterly	Quarterly	Quarterly	Quarterly	Quarterly

The legal entity's own headcount as CVR records it, not the annual report's average, which may cover a group. Annual 2003 to 2004; quarterly Q1 2005 to Q1 2006.

Latest Q1 2006, published 11 Jan 2007. Source: CVR employment series (Årsbeskæftigelse, Kvartalsbeskæftigelse, Månedsbeskæftigelse).

Financials

Annual report figures by year, DKK thousands
Metric	2021	2022	2023	2024	2025
Gross profit	-63	-174	-72	-85	-135
Operating profit	Not reported	Not reported	-72	-85	-135
Result for the year	+3,333	-2,052	+1,180	+4,100	+65
Equity	19,020	16,740	17,692	21,571	21,187
Total assets	19,092	16,814	17,760	21,804	21,353
Employees (average)	Not reported	Not reported	1	1	0
Credit metrics (Dandex calculations)
EBITDA / gross profit (EBITDA i procent af bruttofortjenesten)Pro: EBITDA / gross profit (EBITDA i procent af bruttofortjenesten) is in the Pro plan, see pricingEBITDA as a share of gross profit.	Pro: EBITDA / gross profit (EBITDA i procent af bruttofortjenesten) is in the Pro plan, see pricingEBITDA as a share of gross profit.
Employee growth (vækst i antal ansatte)	Not reported^{note 1}	Not reported^{note 1}	0%	0%	n.m.^{note 2}
Net interest-bearing debt (NIBD, nettorentebærende gæld)Pro: Net interest-bearing debt (NIBD, nettorentebærende gæld) is in the Pro plan, see pricingInterest-bearing debt less cash and current securities; negative is net cash.	Pro: Net interest-bearing debt (NIBD, nettorentebærende gæld) is in the Pro plan, see pricingInterest-bearing debt less cash and current securities; negative is net cash.
Gearing, NIBD / EBITDAPro: Gearing, NIBD / EBITDA is in the Pro plan, see pricingNet interest-bearing debt over EBITDA: the years of earnings the debt takes.	Pro: Gearing, NIBD / EBITDA is in the Pro plan, see pricingNet interest-bearing debt over EBITDA: the years of earnings the debt takes.
Interest coverage (rentedækning)Pro: Interest coverage (rentedækning) is in the Pro plan, see pricingEBIT over finance expenses: how many times earnings cover the interest.	Pro: Interest coverage (rentedækning) is in the Pro plan, see pricingEBIT over finance expenses: how many times earnings cover the interest.
Adjusted equity ratio (justeret soliditetsgrad)Pro: Adjusted equity ratio (justeret soliditetsgrad) is in the Pro plan, see pricingAdjusted equity as a share of total assets on the same basis.	Pro: Adjusted equity ratio (justeret soliditetsgrad) is in the Pro plan, see pricingAdjusted equity as a share of total assets on the same basis.
ROIC (afkast af investeret kapital)Pro: ROIC (afkast af investeret kapital) is in the Pro plan, see pricingReturn on invested capital: EBIT after tax over equity plus net debt.	Pro: ROIC (afkast af investeret kapital) is in the Pro plan, see pricingReturn on invested capital: EBIT after tax over equity plus net debt.
Capex % of sales (investeringer i procent af omsætningen)Pro: Capex % of sales (investeringer i procent af omsætningen) is in the Pro plan, see pricingCapex as a share of revenue.	Pro: Capex % of sales (investeringer i procent af omsætningen) is in the Pro plan, see pricingCapex as a share of revenue.
FCFF / EBITDA (pengestrømskonvertering)Pro: FCFF / EBITDA (pengestrømskonvertering) is in the Pro plan, see pricingFree cash flow to the firm as a share of EBITDA.	Pro: FCFF / EBITDA (pengestrømskonvertering) is in the Pro plan, see pricingFree cash flow to the firm as a share of EBITDA.

DKK thousands. Annual reports via XBRL. Employees are the annual report's average and may cover a group.

Credit metrics are Dandex calculations from the filed figures, not filed values; estimates are in grey with a note. Ratios are percentages. Gearing and interest coverage are multiples. Rows marked Pro hold a value in the Pro plan. Definitions. Revenue-based rows are empty: the company reports gross profit only (bruttofortjeneste), which class B filers may.

1 no average employee figure in the annual report (ESEF reports carry none); the registry's monthly headcount is in the company tool's employmentHistory section
2 n.m.: the year before is not positive

Credit rating (kreditvurdering): Pro: Credit rating (kreditvurdering) is in the Pro plan, see pricingA score from 0 to 100 with a grade from A to F, from the latest annual reports.
Capital loss (kapitaltab): Pro: Capital loss (kapitaltab) is in the Pro plan, see pricingNegative equity, or equity below half the share capital, in the latest report.
Filing deadline and punctuality (indsendelsesfrist): Pro: Filing deadline and punctuality (indsendelsesfrist) is in the Pro plan, see pricingThe next annual report deadline.

Annual reports

Annual report 2025
1 Jan 2025 to 31 Dec 2025, published 14 Jun 2026
XHTML
Annual report 2024
1 Jan 2024 to 31 Dec 2024, published 19 Jun 2025
PDF
Annual report 2023
1 Jan 2023 to 31 Dec 2023, published 5 Jun 2024
PDF
Annual report 2022
1 Jan 2022 to 31 Dec 2022, published 10 Jul 2023
PDF
Annual report 2021
1 Jan 2021 to 31 Dec 2021, published 28 Jun 2022
PDF

Financials

Changes

No changes since Dandex began following this company. For announcements from before then, see Registrations.

Signals (signaler)

Pro: Signals (signaler) are in the Pro plan, see pricingChanges worth a look, raised from the registry and new annual reports.

New leadership (nyt lederskab), New company (ny virksomhed), Ownership change (ejerskifte), Relocation (flytning), Growth surge (vækstspurt), Headcount decline (nedgang i ansatte), Restructuring (omstrukturering), Industry change (brancheskift), Board change (bestyrelsesændring), Dissolution (ophør), Distress warning (risikoadvarsel), Fund investment (fondsinvestering), Fund exit (fondsexit), Fund board seat (fondsbestyrelsespost).

Changes

Pro for this company

The rows marked Pro on this page hold values in the Pro plan. For THE PANEL ApS, that is:

Credit and debt: Net interest-bearing debt, gearing, NIBD / EBITDA, interest coverage and adjusted equity ratio, for 2021 to 2025.Credit rating, capital loss and filing deadline and punctuality.
Returns and cash flow: EBITDA / gross profit, ROIC, capex % of sales and FCFF / EBITDA, for 2021 to 2025.
Advanced estimates: Control tenure, demand cyclicality and registry and report headcount compared.
Signals and monitoring: Signals on this company, as Dandex raises them.

See the Pro plan

Have Pro? Sign in to see the values on this page.

Registry facts

Signing rule (tegningsregel): Selskabet tegnes af een direktør.since 1 Nov 2003
Purpose (formål): Selskabets formål er at foretage kort og langsigtet investering, udlejningsvirksomhed samt konsulentydelsersince 1 Nov 2003
Audit opted out (revision fravalgt): Yessince 24 Jun 2022
Articles of association last changed (seneste vedtægtsdato): 29 Sep 2021
Share classes (kapitalklasser): Yessince 29 Sep 2021
Anti-money-laundering act (hvidvaskloven): Not covered (Ikke omfattet)since 17 Nov 2017
Resumed after compulsory dissolution (genoptagelse efter tvangsopløsning): 12 Nov 2002

Share capital

Each registered value from the day it took effect, newest first.

28 Mar 1996DKK 593,741+393,741
1 Dec 1995DKK 200,000Earliest in CVR

From CVR, read 13 Nov 2026. Text such as the signing rule and purpose is shown as registered.

Registry facts

History (historik)

Name changes: 1 in all, none in the last 5 years; latest 29 Mar 1996
Address changes: 2 in all, none in the last 5 years; latest 12 Nov 2003At the current address for 23.0 years
Status changes: 2 in all, none in the last 5 years; latest 12 Nov 2002
Auditor changes: 3 in all, none in the last 5 years; latest 31 Aug 2020

Names (navne)

29 Mar 1996 to now
THE PANEL ApS
1 Nov 1995 to 28 Mar 1996
VICH 4443 ApS

Addresses (adresser)

12 Nov 2003 to now
Skovmosevej 8, 2820 Gentofte
20 Nov 2002 to 11 Nov 2003
Vandværksvej 17, 3250 Gilleleje
1 Nov 1995 to 19 Nov 2002
Nordre Strandvej 33, 3250 Gilleleje

Statuses (virksomhedsstatus)

12 Nov 2002 to now
Active (normal)
30 Sep 2002 to 11 Nov 2002
Under compulsory dissolution (under tvangsopløsning)
1 Nov 1995 to 29 Sep 2002
Active (normal)

Audit firms (revision)

31 Aug 2020 to 24 Jun 2022
PRICEWATERHOUSECOOPERS STATSAUTORISERET REVISIONSPARTNERSELSKAB
26 Jun 2006 to 31 Aug 2020
BDO Holding VII, statsautoriseret revisionsaktieselskab
29 Oct 2002 to 26 Jun 2006
DELOITTE STATSAUTORISERET REVISIONSAKTIESELSKAB
1 Nov 1995 to 7 Oct 2002
ANDERSEN STATSAUTORISERET REVISIONSAKTIESELSKAB

From CVR, read 13 Nov 2026. A change is counted each time the registry records a new value, so a corrected address or an audit firm under a new entity counts too.

History (historik)

Registrations (registreringer)

13 registrations, newest first. As published by Erhvervsstyrelsen, in Danish, with people's street addresses cut to postcode and city.

30 Jun 2023
Audit change
Revision:
Fratrådte:
PRICEWATERHOUSECOOPERS STATSAUTORISERET REVISIONSPARTNERSELSKAB, den 24.06.2022.
30 Sep 2021
Capital change
Vedtægter ændret: 29.09.2021
14 Sep 2020
Audit change
Revision:
Fratrådte:
BDO STATSAUTORISERET REVISIONSAKTIESELSKAB, den 31.08.2020.
14 Sep 2020
Audit change
Revision:
Fratrådte:
BDO STATSAUTORISERET REVISIONSAKTIESELSKAB, den 31.08.2020.
Tiltrådte:
CVR-NR. 20222670 BDO STATSAUTORISERET REVISIONSAKTIESELSKAB, Havneholmen 29, 1561 København V, den 31.08.2020, CVR-NR. 33771231 PRICEWATERHOUSECOOPERS STATSAUTORISERET REVISIONSPARTNERSELSKAB, Strandvejen 44, 2900 Hellerup, den 31.08.2020.
17 Nov 2017
Address change
Ny adresse: c/o Svend Andersen, Skovmosevej 8, 2820 Gentofte
28 Jun 2006
Other Audit change
Revision:
Udtrådt af revisionen:
CVR-NR. 24213714 DELOITTE STATSAUTORISERET REVISIONSAKTIESELSKAB, den 26.06.2006.
Indtrådt i revisionen:
BDO SCANREVISION, STATSAUTORISERET REVISIONSAKTIESELSKAB, Kristineberg 3, 2100 København Ø, den 26.06.2006.
12 Nov 2003
Address change
Vedtægter ændret:
01.11.2003.
Ny adresse:
Skovmosevej 8, 2820 Gentofte.
Ny kommune:
Gentofte.
29 Apr 2003
Other
Vedtægter ændret:
31.03.2003.
20 Nov 2002
Address change
Ny adresse:
Vandværksvej 17, 3250 Gilleleje.
12 Nov 2002
Status change Audit change
Den under 30.09.2002 fremsendte anmodning til skifteretten i Helsinge om opløsning af selskabet, er tilbagetaget.
Revision:
Udtrådt af revisionen:
ANDERSEN STATSAUTORISERET REVISIONSAKTIESELSKAB.
Indtrådt i revisionen:
DELOITTE & TOUCHE STATSAUTORISERET REVISIONSAKTIESELSKAB, Tuborg Havnevej 18, 2900 Hellerup, den 29.10.2002.

Show 3 more

30 Sep 2002
Status change
Anmodning om opløsning, jf. anpartsselskabslovens § 60, jf. § 61 sendt til skifteretten i Helsinge den 30.09.2002.
3 Jun 1996
People change Capital change Address change Other Audit change
Vedtægter ændret:
20.03.1996.
Nyt navn:
THE PANEL ApS.
Ny adresse:
Ndr. Strandvej 33, 3250 Gilleleje.
Show the full announcement
Ny kommune:
Græsted-Gilleleje.
Kapitalforhøjelse:
kr. 393.741,00 indbetalt kontant, kurs 100,00.
Kapitalen udgør herefter kr. 593.741,00.
Direktion:
Udtrådt af direktionen:
Victor Christoffersen.
Indtrådt i direktionen:
Eksport- og marketingdirektør Svend Andersen.
Revision:
Udtrådt af revisionen:
Nis Jørn Bennetzen.
Indtrådt i revisionen:
Revisionsfirmaet Arthur Andersen, 2100 København Ø.
Regnskabsår ændret til:
01.01 - 31.12.
Første regnskabsår:
01.11.1995 - 31.12.1996.
21 Dec 1995
New company
Stiftelsesdato:
01.11.1995.
Seneste vedtægtsdato:
01.11.1995.
Kapital:
kr. 200.000,00.
Show the full announcement
Indbetalingsmåde:
kontant kr. 200.000,00 til kurs 100,00.
Stifter:
REG.NR. ApS57050 ASX 4050 ApS, c/o adv. Victor Christoffersen, Pilestræde 48, 1112 København K, den 01.11.1995.
Direktion:
Advokat Victor Christoffersen, den 01.11.1995.
Selskabet tegnes af een direktør.
Revision:
Statsaut. revisor Nis Jørn Bennetzen, 1414 København K, den 01.11.1995.
Første regnskabsår:
01.11.1995 - 31.03.1997.
Regnskabsår:
01.04 - 31.03.

Registrations (registreringer)

Registration

Address: Skovmosevej 8
2820 Gentofte
Gentofte Municipality
CVR record last changed: 7 Jul 2026
Data read: 13 Nov 2026

Production units

1 registered in CVR.

THE PANEL APS
P-number 1003635114Skovmosevej 8, 2820 Gentofte

Compiled by Dandex from the Danish Business Registry (CVR, datacvr.virk.dk), Erhvervsstyrelsen, and annual reports filed in XBRL. Values marked Dandex estimate are computed by Dandex from that data, not registered.

Ownership

People

Network

Financials

Changes

Registry facts

History (historik)

Registrations (registreringer)

Registration

Dandex in your own tools

Ownership

People

Financials

Who is behind it

Ownership

Control chain

Owned companies

Dandex estimates

People

Current (1)

Founders (1)

Network

Roles over time

Network

Headcount

Financials

Annual reports

Financials

Changes

Signals (signaler)

Changes

Pro for this company

Registry facts

Share capital

Registry facts

History (historik)

Names (navne)

Addresses (adresser)

Statuses (virksomhedsstatus)

Audit firms (revision)

History (historik)

Registrations (registreringer)

Registrations (registreringer)

Registration

Production units

Dandex in your own tools

Who is behind it

Control chain

Owned companies

Dandex estimates

Current (1)

Founders (1)

Network

Owners and the control chain

Companies it owns

Its people and their other companies

Network

Roles over time

Headcount

Financials

Annual reports

Changes

Signals (signaler)

Pro for this company

Registry facts

Share capital

History (historik)

Names (navne)

Addresses (adresser)

Statuses (virksomhedsstatus)

Audit firms (revision)

Registrations (registreringer)

Production units

Network

Owners and the control chain

Companies it owns

Its people and their other companies