ZMAG ApS (CVR 29243131) Company Profile

Ownership

Zmags Corporation
100% of capital and votessince 23 May 2008

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

Dandex Estimates

Legal ownership resolution (Ejerforholdenes opløsning): Ends at an owner outside CVRThe chain of majority owners ends at an owner outside CVR, directly; legal owners in the CVR owner register only. Dandex estimate, rule v3, computed 10 Nov 2026.
Control tenure (Ejerskabsperiode): Pro: 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 an owner outside CVR, which CVR does not say is a company or a person; it holds 50% or more of no Danish company. Dandex estimate, rule v2, computed 10 Nov 2026.
Holding company assets (Holdingselskabets aktiver): Pro: in the Pro plan, see pricingFor a holding company, the kind of asset that makes up half its balance sheet or more.
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 10 Nov 2026.

Decided by Dandex with fixed rules from the CVR register and the filed annual reports, not registered by the company. Each label links to its definition.

People

Current (2)

Imad MoulineExecutive board since 30 Sep 2025
Thayer SwartwoodExecutive board since 30 Sep 2025

Founders (1)

Karstoft Holding ApSFounded 11 Jan 2006

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

Former (10)

Jens KarstoftExecutive board 11 Jan 2006 to 21 Jan 2014, Board of directors 4 Jan 2008 to 12 Mar 2009
Terence Patrick HalloranExecutive board 12 Mar 2009 to 21 Oct 2011
Michael SchreckExecutive board 21 Oct 2011 to 11 Sep 2012
David Russell PowellExecutive board 12 Jun 2014 to 1 Dec 2022
Hubert Fremont MerryweatherExecutive board 11 Sep 2012 to 28 Mar 2014
Brian Thomas RigneyExecutive board 12 Jun 2014 to 12 Jan 2018
Richard Mark DarerExecutive board 1 Dec 2022 to 30 Sep 2025
Kim WienckenBoard of directors 18 Dec 2008 to 12 Mar 2009
Anders Frejo JørgensenBoard of directors 4 Jan 2008 to 12 Mar 2009
Jesper Scharling SørensenBoard of directors 4 Jan 2008 to 18 Dec 2008

Network

Roles Over Time

Imad Mouline: Executive board, 30 Sep 2025 to today.
Thayer Swartwood: Executive board, 30 Sep 2025 to today.

30 Sep 2025 to 10 Nov 2026.

Former (10)

Richard Mark Darer: Executive board, 1 Dec 2022 to 30 Sep 2025.
David Russell Powell: Executive board, 12 Jun 2014 to 1 Dec 2022.
Brian Thomas Rigney: Executive board, 12 Jun 2014 to 12 Jan 2018.
Hubert Fremont Merryweather: Executive board, 11 Sep 2012 to 28 Mar 2014.
Jens Karstoft: Executive board, 11 Jan 2006 to 21 Jan 2014; Board of directors, 4 Jan 2008 to 12 Mar 2009.
Michael Schreck: Executive board, 21 Oct 2011 to 11 Sep 2012.
Terence Patrick Halloran: Executive board, 12 Mar 2009 to 21 Oct 2011.
Kim Wiencken: Board of directors, 18 Dec 2008 to 12 Mar 2009.
Anders Frejo Jørgensen: Board of directors, 4 Jan 2008 to 12 Mar 2009.
Jesper Scharling Sørensen: Board of directors, 4 Jan 2008 to 18 Dec 2008.

11 Jan 2006 to 10 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

Headcount

EmployeesFTE

Q4 2018, quarterly: 0 employees, 0 FTE

Show as Table

Registry headcount, 2006 to Q4 2018, oldest left to newest right
Period	2006	2007	2008	2009	Q1 2010	Q2 2010	Q3 2010	Q4 2010	2011	2012	2013	2014	Jan 2015	Feb 2015	Mar 2015	Apr 2015	May 2015	Jun 2015	Jul 2015	Aug 2015	Sep 2015	Oct 2015	Nov 2015	Dec 2015	Jan 2016	Feb 2016	Mar 2016	Apr 2016	May 2016	Jun 2016	Jul 2016	Aug 2016	Sep 2016	Oct 2016	Nov 2016	Dec 2016	Jan 2017	Feb 2017	Mar 2017	Apr 2017	May 2017	Jun 2017	Jul 2017	Aug 2017	Sep 2017	Oct 2017	Nov 2017	Dec 2017	Jan 2018	Feb 2018	Mar 2018	Apr 2018	May 2018	Jun 2018	Jul 2018	Aug 2018	Q4 2018
Employees	9	20	34	34	No count	No count	No count	No count	25	31	29	21	22	22	23	23	24	23	22	21	20	21	20	21	22	22	21	21	21	21	21	20	20	20	20	20	18	18	19	18	17	17	18	18	17	18	20	20	14	14	10	7	4	1	1	1	0
FTE	4	15	36	43	26	23	22	22	26	33	31	24	22	22	23	23	24	23	22	21	20	21	20	21	22	22	21	21	21	21	21	20	20	20	20	20	18	18	19	18	17	17	18	18	17	18	20	20	14	14	10	7	4	1	1	1	0
Series	Annual	Annual	Annual	Annual	Quarterly	Quarterly	Quarterly	Quarterly	Annual	Annual	Annual	Annual	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Monthly	Quarterly

The legal entity's own headcount as CVR records it, not the annual report's average, which may cover a group. Annual 2006 to 2009 and 2011 to 2014; quarterly Q1 2010 to Q4 2010 and Q4 2018; monthly Jan 2015 to Aug 2018.

Latest Q4 2018, published 26 Jun 2019. Source: CVR employment series (Årsbeskæftigelse, Kvartalsbeskæftigelse, Månedsbeskæftigelse).

Financials

Annual report figures by year, DKK thousands
Metric	2021	2022	2023	2024	2025
Gross profit	7,729	1,013	-2	508	-142
Operating profit	+7,369	+1,013	-2	+508	-142
Result for the year	-3,930	-7,452	+2,199	-2,154	+420
Equity	-141,208	-148,811	-20,493	-24,638	-24,218
Total assets	3,734	4,287	3,489	1,551	1,321
Employees (average)	1	0	Not reported	Not reported	0
Credit metrics (Dandex calculations)
Gross profit growth (vækst i bruttofortjeneste)	-32.5%	-86.9%	-100.2%	n.m.^{note 1}	-127.9%
EBITDA	7,380	1,013	Not reported^{note 2}	Not reported^{note 2}	Not reported^{note 2}
EBITDA / gross profit (EBITDA i procent af bruttofortjenesten)	Pro: in the Pro plan, see pricingEBITDA as a share of gross profit.
Employee growth (vækst i antal ansatte)	0%	-100%	Not reported^{note 3}	Not reported^{note 3}	n.m.^{note 1}
Net interest-bearing debt (NIBD, nettorentebærende gæld)	Pro: in the Pro plan, see pricingInterest-bearing debt less cash and current securities; negative is net cash.
Gearing, NIBD / EBITDA	Pro: in the Pro plan, see pricingNet interest-bearing debt over EBITDA: the years of earnings the debt takes.
Interest coverage (rentedækning)	Pro: in the Pro plan, see pricingEBIT over finance expenses: how many times earnings cover the interest.
Adjusted equity ratio (justeret soliditetsgrad)	Pro: in the Pro plan, see pricingAdjusted equity as a share of total assets on the same basis.
ROIC (afkast af investeret kapital)	Pro: in the Pro plan, see pricingReturn on invested capital: EBIT after tax over equity plus net debt.
Capex (investeringer i anlægsaktiver)	0^{note 4}	Not reported^{note 5}	Not reported^{note 5}	Not reported^{note 5}	Not reported^{note 5}
Capex % of sales (investeringer i procent af omsætningen)	Pro: in the Pro plan, see pricingCapex as a share of revenue.
FCFF / EBITDA (pengestrømskonvertering)	Pro: 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 n.m.: the year before is not positive
2 no depreciation line filed
3 no average employee figure in the annual report (ESEF reports carry none); the registry's monthly headcount is in company-profile
4 Dandex estimate: capex from the balance sheet change plus D&A
5 no capex filed

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

Annual Reports

Annual report 2025
1 Jan 2025 to 31 Dec 2025, published 9 Jul 2026
XHTML
Annual report 2024
1 Jan 2024 to 31 Dec 2024, published 1 Jul 2025
PDF
Annual report 2023
1 Jan 2023 to 31 Dec 2023, published 31 Jul 2024
PDF
Annual report 2022
1 Jan 2022 to 31 Dec 2022, published 24 Jul 2023
PDF
Annual report 2021
1 Jan 2021 to 31 Dec 2021, published 13 Jul 2022
PDF

Financials

Changes

All changes

16 Jun 2026
Ownership change
ZMAG ApS (CVR 29243131) har foretaget ejerskifte pr. 16. juni 2026: 1 indtrådt.
30 Sep 2025
Director change
ZMAG ApS (CVR 29243131) har foretaget direktørskifte pr. 30. september 2025: 2 indtrådt.
1 Dec 2022
Director change
ZMAG ApS (CVR 29243131) har foretaget direktørskifte pr. 1. december 2022: 1 indtrådt.
12 Jun 2014
Director change
ZMAG ApS (CVR 29243131) har foretaget direktørskifte pr. 12. juni 2014: 2 indtrådt.
11 Sep 2012
Director change
ZMAG ApS (CVR 29243131) har foretaget direktørskifte pr. 11. september 2012: 1 indtrådt.
21 Oct 2011
Director change
ZMAG ApS (CVR 29243131) har foretaget direktørskifte pr. 21. oktober 2011: 1 indtrådt.
12 Mar 2009
Director change
ZMAG ApS (CVR 29243131) har foretaget direktørskifte pr. 12. marts 2009: 1 indtrådt.
18 Dec 2008
Director change
ZMAG ApS (CVR 29243131) har foretaget direktørskifte pr. 18. december 2008: 1 indtrådt.
4 Jan 2008
Director change
ZMAG ApS (CVR 29243131) har foretaget direktørskifte pr. 4. januar 2008: 2 indtrådt.
11 Jan 2006
Director change
ZMAG ApS (CVR 29243131) har foretaget direktørskifte pr. 11. januar 2006: 1 indtrådt.

Signals (signaler)

Pro: 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 ZMAG 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 and holding company assets.
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 en direktør.since 27 Mar 2014
Purpose (Formål): Selskabets formål er at udvikle og afsætte software, andre IT-relaterede ydelser og hermed efter ledelsens skøn beslægtet virksomhedsince 27 Mar 2014
Audit opted out (Revision fravalgt): Nosince 11 Jan 2006
Articles of association last changed (Seneste vedtægtsdato): 27 Mar 2014

Share Capital

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

4 Jan 2008220,150 DKK+95,150
11 Jan 2006125,000 DKKEarliest in CVR

From CVR, read 10 Nov 2026. Text such as the signing rule and purpose is shown as registered.

Registry Facts

Registrations (Registreringer)

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

13 Oct 2025
People change
Direktion:
Fratrådte:
Richard Mark Darer, den 30.09.2025.
Tiltrådte:
Imad Mouline, den 30.09.2025, Thayer Swartwood, den 30.09.2025.
14 Jul 2023
People change
Direktion:
Fratrådte:
David Russell Powell, den 01.12.2022.
Tiltrådte:
Richard Mark Darer, den 01.12.2022.
13 Mar 2018
People change
Direktion:
Fratrådte:
Brian Thomas Rigney (adm. dir), den 12.01.2018.
12 Jun 2014
Other People change
Direktion:
Tiltrådt som adm. dir: Brian Thomas Rigney, den 12.06.2014.
Indtrådt i direktionen:
CFO David Russell Powell (Økonomidirektør), den 12.06.2014.
7 Apr 2014
Other
Vedtægter ændret:
27.03.2014.
31 Mar 2014
Other People change
Direktion:
Udtrådt af direktionen:
Hubert Fremont Merryweather, den 28.03.2014.
10 Mar 2014
Other People change
Direktion:
Indtrådt i direktionen:
Brian Thomas Rigney, den 06.03.2014.
22 Jan 2014
People change Other
Direktion:
Udtrådt af direktionen:
Jens Karstoft Hansen, den 21.01.2014.
13 Sep 2012
Other People change
Direktion:
Udtrådt af direktionen:
Michael Schreck, den 11.09.2012.
Indtrådt i direktionen:
Hubert Fremont Merryweather (adm. dir), den 11.09.2012.
6 Dec 2011
Other
Vedtægter ændret:
05.12.2011.

Show 12 more

4 Nov 2011
People change Other
Direktion:
Udtrådt af direktionen:
Terence Patrick Halloran, den 21.10.2011.
Indtrådt i direktionen:
Michael Schreck (adm. dir), den 21.10.2011.
18 Aug 2011
Other
Vedtægter ændret:
16.08.2011.
16 Aug 2011
Address change
Ny adresse:
Frederiksborggade 20B, 1., 1360 København K.
19 Mar 2009
Other People change
Vedtægter ændret:
12.03.2009.
Bestyrelse:
Udtrådt af bestyrelsen:
Jens Karstoft Hansen, den 12.03.2009, Anders Frejo Jørgensen, den 12.03.2009, Kim Wiencken, den 12.03.2009.
Direktion:
Show the full announcement
Indtrådt i direktionen:
CFO Terence Patrick Halloran (Økonomidirektør), den 12.03.2009.
Selskabet tegnes af en direktør.
19 Dec 2008
Other People change
Bestyrelse:
Udtrådt af bestyrelsen:
Jesper Scharling Sørensen, den 18.12.2008.
Indtrådt i bestyrelsen:
Kim Wiencken, den 18.12.2008.
22 Oct 2008
Other
Ny adresse:
Prags Boulevard 80, 2300 København S.
17 Oct 2008
Other
Ny adresse:
Prags Boulevard 88, 2300 København S.
11 Jan 2008
Other Capital change People change
Vedtægter ændret:
04.01.2008.
Kapitalforhøjelse kr. 95.150,00: kr. 10.880,00 indbetalt i værdier, kurs 3.200,00, kr. 84.270,00 indbetalt kontant, kurs 14.240,00.
Kapitalen udgør herefter kr. 220.150,00.
Bestyrelse:
Indtrådt i bestyrelsen:
Jens Karstoft Hansen, den 04.01.2008, Anders Frejo Jørgensen, den 04.01.2008, Jesper Scharling Sørensen, den 04.01.2008.
Selskabet tegnes af en direktør og et bestyrelsesmedlem i forening eller af to eller flere bestyrelsesmedlemmer i forening.
15 Sep 2007
Other
Vedtægter ændret:
10.09.2007.
Ny adresse:
Holmbladsgade 70, 2300 København S.
Nyt binavn: ZMAGS ApS (ZMAG ApS).
21 Nov 2006
Other Audit change
Revision:
Udtrådt af revisionen:
CVR-NR. 26252687 JJ REVISION REGISTRERET REVISIONSANPARTSSELSKAB UNDER AFVIKLING, den 18.09.2006.
Indtrådt i revisionen:
CVR-NR. 15915641 S.A. CHRISTENSEN & W. KJÆRULFF, STATSAUTORISERET REVISIONSAKTIESELSKAB, Store Kongensgade 68, postboks 9015, 1264 København K, den 18.09.2006.
12 Jan 2006
Other Address change
Ny adresse:
Lergravsvej 53, 2300 København S.
11 Jan 2006
New company
Stiftelsesdato:
11.01.2006.
Seneste vedtægtsdato:
11.01.2006.
Kapital:
kr. 125.000,00.
Show the full announcement
Indbetalingsmåde:
kontant kr. 125.000,00 til kurs 101,80.
Stifter:
CVR-NR. 29011745 KARSTOFT HOLDING ApS, Borups Allé 233B, 1. th., 2400 København NV, den 11.01.2006.
Direktion:
Jens Karstoft Hansen, den 11.01.2006.
Selskabet tegnes af direktøren.
Revision:
CVR-NR. 26252687 RÅDGIVNINGSGRUPPEN REGISTRERET REVISIONSANPARTSSELSKAB, Gladsaxe Møllevej 21, 1., 2860 Søborg, den 11.01.2006.
Første regnskabsår:
11.01.2006 - 31.12.2006.
Regnskabsår:
01.01 - 31.12.

Registrations (Registreringer)

Registration

Address: Frederiksborggade 20
1360 København K
København Municipality
CVR record last changed: 16 Jun 2026
Data read: 10 Nov 2026

Production Units

1 registered in CVR.

ZMAG ApS
P-number 1011960029Frederiksborggade 20, 1360 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

Network

Financials

Changes

Registry Facts

Registrations (Registreringer)

Registration

Dandex in Your Own Tools

Ownership

People

Financials

Who Is Behind It

Ownership

Dandex Estimates

People

Current (2)

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

Registrations (Registreringer)

Registrations (Registreringer)

Registration

Production Units

Dandex in Your Own Tools

Who Is Behind It

Dandex Estimates

Current (2)

Founders (1)

Network

Owners and the control chain

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

Registrations (Registreringer)

Production Units

Network

Owners and the control chain

Its people and their other companies