Puzzel A/S (CVR 25254864) Company Profile

Ownership

Puzzel Bidco Denmark ApS
CVR 44969661100% of capital and votessince 30 Sep 2024

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

Former owners (1)

Puzzel AS
100% of capital and votes6 May 2010 to 30 Sep 2024

Control Chain

Ultimate controller
Puzzel AS
Holds 100% of capital and votes in Puzzel Bidco Denmark ApS, since 17 Jul 2024
Capital100%
Votes100%
Holding company
Puzzel Bidco Denmark ApS
CVR 44969661Private limited company (ApS)
Holds 100% of capital and votes in Puzzel A/S, since 30 Sep 2024
Capital100%
Votes100%
This company
Puzzel A/S
CVR 25254864

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 2 Nov 2026.

People

Current (3)

Frederic LaziouExecutive board since 26 Mar 2021, Board of directors since 26 Mar 2021
Stephen John GristBoard of directors since 11 Oct 2022
Elin FilippBoard of directors since 22 Sep 2025

Founders (1)

KR 332 ApSFounded 9 Mar 2000

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

Former (23)

Steen MalmbergExecutive board 5 May 2000 to 1 Oct 2006, Board of directors 5 May 2000 to 1 Oct 2006
Jørgen ByrielExecutive board 9 Mar 2000 to 5 May 2000
Per HesthavenExecutive board 1 Nov 2008 to 9 Apr 2010, Board of directors 1 Nov 2008 to 6 May 2010
Guttorm JohansenExecutive board 1 Oct 2006 to 31 Jan 2007, Board of directors 1 Oct 2006 to 31 Jan 2007
André JensenExecutive board 9 Apr 2010 to 23 Sep 2011, Board of directors 6 May 2010 to 23 Sep 2011
Martin VedelerExecutive board 31 Jan 2007 to 1 Nov 2008, Board of directors 31 Jan 2007 to 1 Nov 2008
Børge AstrupExecutive board 23 Sep 2011 to 26 Mar 2021, Board of directors 23 Sep 2011 to 26 Mar 2021
Michael Egede BudtzBoard of directors 9 Mar 2000 to 5 May 2000
Erik Mohr MersingBoard of directors 9 Mar 2000 to 5 May 2000
Anders Bjerre LavesenBoard of directors 9 Mar 2000 to 5 May 2000
Marit Elisabeth DøvingBoard of directors 30 Mar 2001 to 27 May 2003
Jacob OlsenBoard of directors 3 Mar 2020 to 11 Oct 2022
Terje LangleteBoard of directors 5 May 2000 to 18 Oct 2000
Jan Erik EngebretsenBoard of directors 5 May 2000 to 30 Oct 2001
Ole Hartvik NybøBoard of directors 18 Oct 2000 to 1 Oct 2006
Tone SkjervøBoard of directors 9 Apr 2010 to 24 Nov 2014
Eivind Hauglie-HanssenBoard of directors 31 Jan 2007 to 9 Apr 2010
Knut Hakon NilsenBoard of directors 6 May 2010 to 29 May 2015
Dag Erik JørgensenBoard of directors 24 Nov 2014 to 1 Feb 2018
Eirik Olav UtvikBoard of directors 29 May 2015 to 1 Feb 2018
Ranajay RoyBoard of directors 1 Feb 2018 to 3 Mar 2020
Gunnar AasenBoard of directors 1 Feb 2018 to 26 Aug 2021
Jo Sverre LindemBoard of directors 26 Aug 2021 to 22 Sep 2025

Network

Roles Over Time

Frederic Laziou: Executive board, 26 Mar 2021 to today; Board of directors, 26 Mar 2021 to today.
Stephen John Grist: Board of directors, 11 Oct 2022 to today.
Elin Filipp: Board of directors, 22 Sep 2025 to today.

26 Mar 2021 to 2 Nov 2026.

Former (23)

Jo Sverre Lindem: Board of directors, 26 Aug 2021 to 22 Sep 2025.
Jacob Olsen: Board of directors, 3 Mar 2020 to 11 Oct 2022.
Gunnar Aasen: Board of directors, 1 Feb 2018 to 26 Aug 2021.
Børge Astrup: Executive board, 23 Sep 2011 to 26 Mar 2021; Board of directors, 23 Sep 2011 to 26 Mar 2021.
Ranajay Roy: Board of directors, 1 Feb 2018 to 3 Mar 2020.
Dag Erik Jørgensen: Board of directors, 24 Nov 2014 to 1 Feb 2018.
Eirik Olav Utvik: Board of directors, 29 May 2015 to 1 Feb 2018.
Knut Hakon Nilsen: Board of directors, 6 May 2010 to 29 May 2015.
Tone Skjervø: Board of directors, 9 Apr 2010 to 24 Nov 2014.
André Jensen: Executive board, 9 Apr 2010 to 23 Sep 2011; Board of directors, 6 May 2010 to 23 Sep 2011.
Per Hesthaven: Executive board, 1 Nov 2008 to 9 Apr 2010; Board of directors, 1 Nov 2008 to 6 May 2010.
Eivind Hauglie-Hanssen: Board of directors, 31 Jan 2007 to 9 Apr 2010.
Martin Vedeler: Executive board, 31 Jan 2007 to 1 Nov 2008; Board of directors, 31 Jan 2007 to 1 Nov 2008.
Guttorm Johansen: Executive board, 1 Oct 2006 to 31 Jan 2007; Board of directors, 1 Oct 2006 to 31 Jan 2007.
Steen Malmberg: Executive board, 5 May 2000 to 1 Oct 2006; Board of directors, 5 May 2000 to 1 Oct 2006.
Ole Hartvik Nybø: Board of directors, 18 Oct 2000 to 1 Oct 2006.
Marit Elisabeth Døving: Board of directors, 30 Mar 2001 to 27 May 2003.
Jan Erik Engebretsen: Board of directors, 5 May 2000 to 30 Oct 2001.
Terje Langlete: Board of directors, 5 May 2000 to 18 Oct 2000.
Jørgen Byriel: Executive board, 9 Mar 2000 to 5 May 2000.
Michael Egede Budtz: Board of directors, 9 Mar 2000 to 5 May 2000.
Erik Mohr Mersing: Board of directors, 9 Mar 2000 to 5 May 2000.
Anders Bjerre Lavesen: Board of directors, 9 Mar 2000 to 5 May 2000.

9 Mar 2000 to 2 Nov 2026.

Executive board (Direktion)Board of directors (Bestyrelse)Each bar is one role, from its start to its end or today. Bars in a group share one scale. Source: CVR.

Network

Financials

Annual report figures by year, DKK thousands
Metric	2021	2022	2023	2024	2025
Revenue	41,231	52,627	64,954	77,514	Not reported
Gross profit	37,523	10,197	14,348	22,196	42,662
Operating profit	+1,981	Not reported	Not reported	Not reported	+4,403
Result for the year	+1,761	+1,336	+3,676	+3,507	+5,491
Equity	3,394	4,730	8,406	24,932	30,047
Total assets	21,771	23,352	29,641	58,812	73,487
Employees (average)	11	9,000	5,000	13	59
Credit metrics (Dandex calculations)
Revenue growth (omsætningsvækst)	19.7%	12.8%	23.4%	19.3%	Not reported
EBIT margin (overskudsgrad)	4.8%	2.8%^{note 1}	3.6%^{note 1}	2.6%^{note 1}	Not reported
EBITDA	2,078	1,581^{note 1}	2,425^{note 1}	4,947^{note 1}	9,138
EBITDA margin	5%	3%^{note 1}	3.7%^{note 1}	6.4%^{note 1}	Not reported
Employee growth (vækst i antal ansatte)	0%	-18.2%	-44.4%	160%	353.9%
Net interest-bearing debt (NIBD, nettorentebærende gæld)	-1,122^{note 2}	-890^{note 2}	-453^{note 2}	-12,383^{note 2}	-2,194^{note 2}
Gearing, NIBD / EBITDA	Net cash^{note 2}	Net cash^{note 3}	Net cash^{note 3}	Net cash^{note 3}	Net cash^{note 2}
ROIC (afkast af investeret kapital)	89.4%^{note 2}	37.7%^{note 4}	29.9%^{note 4}	14.6%^{note 4}	17%^{note 2}
Capex (investeringer i anlægsaktiver)	Not reported^{note 5}	Not reported^{note 5}	Not reported^{note 5}	1,853^{note 6}	181^{note 6}
Capex % of sales (investeringer i procent af omsætningen)	Not reported^{note 5}	Not reported^{note 5}	Not reported^{note 5}	2.4%^{note 6}	Not reported
NIBD incl. group and owner balances (NIBD inkl. koncern- og ejermellemværender)	-13,704^{note 2}	-11,758^{note 2}	-17,899^{note 2}	-30,121^{note 2}	-37,089^{note 2}

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 and gearing a multiple. Definitions. No cash flow statement filed (class A and B are exempt).

1 Dandex estimate: EBIT rebuilt from profit before tax and financial items
2 no interest-bearing debt reported
3 Dandex estimate: no interest-bearing debt reported; EBIT rebuilt from profit before tax and financial items
4 Dandex estimate: EBIT rebuilt from profit before tax and financial items; no interest-bearing debt reported
5 no capex filed
6 additions per the fixed asset notes

Annual Reports

Annual report 2025
1 Jan 2025 to 31 Dec 2025, published 10 Jul 2026
XHTML
Annual report 2024
1 Jan 2024 to 31 Dec 2024, published 3 Jun 2025
XHTML
Annual report 2023
1 Jan 2023 to 31 Dec 2023, published 23 Apr 2024
XHTML
Annual report 2022
1 Jan 2022 to 31 Dec 2022, published 17 May 2023
XHTML
Annual report 2021
1 Jan 2021 to 31 Dec 2021, published 15 Jun 2022
PDF

Financials

Changes

Dandex has recorded no changes to this company since it began following the register.

Registration

Address: Vestergade 18
1456 København K
København Municipality
CVR record last changed: 7 Sep 2026
Data read: 2 Nov 2026

Production Units

1 registered in CVR.

Puzzel A/S
P-number 1007473865Vestergade 18, 1456 København K

Compiled by Dandex from the Central Business Register (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

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Financials

Changes

Registration

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Ownership

People

Financials

Who Is Behind It

Ownership

Control Chain

People

Current (3)

Founders (1)

Network

Roles Over Time

Network

Financials

Annual Reports

Financials

Changes

Registration

Production Units

Dandex in Your Own Tools

Who Is Behind It

Control Chain

Current (3)

Founders (1)

Network

Shared by two or more of its people

Its people and their other companies

Network

Roles Over Time

Financials

Annual Reports

Production Units

Network

Shared by two or more of its people

Its people and their other companies