Puzzel A/S
CVR 25254864 · Public limited company (A/S) · Active · Low risk
Puzzel A/S is a Public limited company (A/S), founded on , based in København K. The company is registered in the industry levering af fastnetbaseret, trådløs og satellitbaseret telekommunikation. Our model estimates a bankruptcy risk of 0.1% over the next 12 months, which is 0.1 times the average for Danish companies. 20 annual reports have been published, of which 1 more than six months after the end of the financial year. The latest annual report (31 Dec 2025) shows equity of DKK 30.0m and a net result of DKK 5.5m. CEO: Frederic Laziou.
Bankruptcy risk for Puzzel A/S
0.1 × the average (1.41%) · higher risk than 38% of active Danish companies
Increases the risk
Reduces the risk
The factors show how often companies with the same characteristic went bankrupt compared with the average (“lift”). The risk is a statistical estimate from a model trained on 141,000+ Danish bankruptcies (AUC 0.93) – not a credit rating. Read about the method.
Company details
- CVR number
- 25254864
- Status
- Active
- Company type
- Public limited company (A/S)
- Founded
- (26 years)
- Address
- c/o Puzzel A/S, Vestergade 18E, 3.
1456 København K - Municipality
- København
- Industry
- Levering af fastnetbaseret, trådløs og satellitbaseret telekommunikation (611000)
Bankruptcies in the industry: Anden telekommunikation - Share capital
- DKK 1.6m
- Employees
- 7 (2018)
- Auditor
- EY Godkendt Revisionspartnerselskab
- Audit opted out
- No
Warning signs
| Annual reports filed late | 1 of 26 |
| Missing annual report | No |
| Negative equity | No |
| Equity ratio | 40.9% |
| Current ratio | 163% |
| Moves (last 2 years) | 2 |
| CEO changes in total | 12 |
| CEO's previous bankruptcies | 0 |
| Other companies at the address | 63 |
| Going-concern uncertainty | No |
Financials and key figures
| Financial year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Revenue | – | DKK 77.5m | DKK 65.0m |
| Gross profit | DKK 42.7m | DKK 22.2m | DKK 14.3m |
| Net profit | DKK 5.5m | DKK 3.5m | DKK 3.7m |
| Equity | DKK 30.0m | DKK 24.9m | DKK 8.4m |
| Total assets | DKK 73.5m | DKK 58.8m | DKK 29.6m |
| Cash | DKK 2.2m | DKK 12.4m | – |
| Short-term debt | DKK 39.7m | DKK 33.9m | – |
| Tax owed | DKK 2.4m | DKK 1.3m | – |
| Avg. employees | 59 | 13 | – |
Latest annual report: Reporting class B · auditor's statement: Revisionspåtegning · (venstre underskriver).
Filed annual reports
| Reporting period | Published | Days after period end | |
|---|---|---|---|
| 1 Jan 2025 – 31 Dec 2025 | 191 | Late | |
| 1 Jan 2024 – 31 Dec 2024 | 154 | ||
| 1 Jan 2023 – 31 Dec 2023 | 114 | ||
| 1 Jan 2022 – 31 Dec 2022 | 137 | ||
| 1 Jan 2021 – 31 Dec 2021 | 166 | ||
| 1 Jan 2020 – 31 Dec 2020 | 125 | ||
| 1 Jan 2019 – 31 Dec 2019 | 167 | ||
| 1 Jan 2018 – 31 Dec 2018 | 99 | ||
| 1 Jan 2017 – 31 Dec 2017 | 142 | ||
| 1 Jan 2016 – 31 Dec 2016 | 93 | ||
| 1 Jan 2015 – 31 Dec 2015 | 118 | ||
| 1 Jan 2014 – 31 Dec 2014 | 97 | ||
| 1 Jan 2013 – 31 Dec 2013 | 135 | ||
| 1 Jan 2012 – 31 Dec 2012 | 144 | ||
| 1 Jan 2011 – 31 Dec 2011 | 136 | ||
| 1 Jan 2010 – 31 Dec 2010 | 150 | ||
| 1 Jan 2009 – 31 Dec 2009 | 172 | ||
| 1 Jan 2008 – 31 Dec 2008 | 175 | ||
| 1 Jan 2007 – 31 Dec 2007 | 167 | ||
| 1 Jan 2006 – 31 Dec 2006 | 182 |
The annual report must reach the Danish Business Authority no later than 5 months after the end of the financial year. We mark reports published more than 6 months after as “late”.
Management, owners and auditor
| Role | Name | From | To |
|---|---|---|---|
| CEO | Frederic Laziou | Current | |
| CEO | Jørgen Byriel | ||
| CEO | Guttorm Johansen | ||
| CEO | Martin Vedeler | ||
| CEO | Per Hesthaven | ||
| CEO | André Jensen | ||
| CEO | Børge Astrup | ||
| Board | Frederic Laziou | Current | |
| Board | Stephen John Grist | Current | |
| Board | Elin Filipp | Current | |
| Board | Michael Egede Budtz | ||
| Board | Erik Mohr Mersing | ||
| Board | Anders Bjerre Lavesen | ||
| Board | Steen Malmberg | ||
| Board | Terje Langlete | ||
| Board | Jan Erik Engebretsen | ||
| Board | Ole Hartvik Nybø | ||
| Board | Marit Elisabeth Døving | ||
| Board | Guttorm Johansen | ||
| Board | Eivind Hauglie-Hanssen | ||
| Board | Martin Vedeler | ||
| Board | Per Hesthaven | ||
| Board | Tone Skjervø | ||
| Board | André Jensen | ||
| Board | Knut Hakon Nilsen | ||
| Board | Børge Astrup | ||
| Board | Dag Erik Jørgensen | ||
| Board | Eirik Olav Utvik | ||
| Board | Gunnar Aasen | ||
| Board | Ranajay Roy | ||
| Board | Jacob Olsen | ||
| Board | Jo Sverre Lindem | ||
| Owner (100%) | Puzzel Bidco Denmark ApS | Current | |
| Owner (100%) | Puzzel AS | ||
| Auditor | EY Godkendt Revisionspartnerselskab | Current | |
| Auditor | Green IV ApS | ||
| Auditor | DELOITTE STATSAUTORISERET REVISIONSAKTIESELSKAB | ||
| Auditor | CJ Partnership I/S | ||
| Auditor | EY Godkendt Revisionspartnerselskab | ||
| Auditor | KPMG P/S | ||
| Founder | KR 332 ApS | Current |
The CEOs' other companies
Jørgen Byriel – 60 other companies, of which 54 bankrupt
- 1812 HH HOLDING ApS Bankrupt 15 Jan 2004
- 20 NOV 2014 ApS Bankrupt 24 Nov 2014
- 21.11.2011 ApS Bankrupt 28 Nov 2011
- AABYBRO AF 22/9 2009 A/S Bankrupt 28 Sep 2009
- AABYE MADSEN A/S Bankrupt 22 Jul 1998
- ADOMO A/S Bankrupt 30 May 2001
- AFVIKLINGSSELSKAB NR. II AF 29. AUGUST 2002 A/S Bankrupt 30 Aug 2002
- AIKON ApS Bankrupt 15 Dec 2022
- AKTIESELSKABET AF 28. MAJ 2004 Bankrupt 1 Oct 2004
- AVIATION LEASE & FINANCE A/S Bankrupt 17 May 2004
- B & N PARTNERS ApS Bankrupt 14 Nov 2005
- BOCO II ApS Bankrupt 2 Mar 2006
- CHINESE IMPORT 2000 ApS Bankrupt 19 Mar 2002
- CRAFOORD AUKTIONER A/S Bankrupt 27 Jan 2003
- DANISH BUSINESS SUPPORT A/S Bankrupt 18 Oct 2004
- DELANO MINERVA ApS Bankrupt 25 Feb 2002
- DIGIPOS STORE SOLUTIONS A/S Bankrupt 26 Feb 2015
- ERGO CENTRET ApS Bankrupt 30 Apr 2003
- FANTINE GROUP SCANDINAVIA ApS Bankrupt 28 Oct 2003
- FFN HOLDING ApS Bankrupt 19 Apr 2012
- FIBO INTERCON A/S Bankrupt 12 Mar 2014
- GS Glas A/S Bankrupt 7 Jun 2024
- HANDELSAKTIESELSKABET AF 26.02.1998 Bankrupt 6 Jul 2012
- IMAGE SELSKABET KØBENHAVN A/S Bankrupt 8 Nov 2002
- IN TOUCH REKLAMEBUREAU ApS Bankrupt 3 Apr 2001
- JACOBS MIND ApS Bankrupt 10 Nov 2010
- JAML HOLDING ApS Bankrupt 14 Dec 2004
- KM 665 A/S Bankrupt 28 May 1997
- KONZEPT INT. ApS Bankrupt 15 Aug 2003
- KR & T A/S Bankrupt 4 Sep 2001
Per Hesthaven – 3 other companies
- NetNordic Denmark A/S Active
- P Hesthaven Holding ApS Active
- UC Change ApS Active
Address history (5 moves)
| c/o Puzzel A/S, Vestergade 18E, 3., 1456 København K | |
| Vesterbrogade 35, 3., 1620 København V | |
| H.J. Holst Vej 5, 2605 Brøndby | |
| Digevej 114, 1., 2300 København S | |
| Stamholmen 157, 2., 2650 Hvidovre | |
| Vesterbrogade 149, 1620 København V |
Former names
| Puzzel A/S | – now |
| INTELECOM DANMARK A/S | – |
| CONSORTE DANMARK A/S | – |
Employees per year
Other companies at the same address
- ACEA Capital ApS Bankrupt
- ACEA Finance ApS Bankrupt
- ACEA Law Advokatanpartsselskab Bankrupt
- ACEA Payments ApS Bankrupt
- ACEA Project 1 ApS Bankrupt
- ACEA Project 2 ApS Bankrupt
- ACEA Systems ApS Bankrupt
- Bonuslån ApS Bankrupt
- Brickwork.io ApS Bankrupt
- Custimy ApS Bankrupt
- DANSK ERHVERVSREGISTER ApS Bankrupt
- Feb-Company 2022 ApS Bankrupt
- HEGOM ApS Bankrupt
- HORNSKOVVINDBERG S.M.B.A. Bankrupt
- MG Exklusive ApS Bankrupt
- MONDOSOFT A/S Bankrupt
- Make Influence ApS Bankrupt
- NAVIGO SYSTEMS A/S Bankrupt
- NETPOINTERS INTERNATIONAL ApS Bankrupt
- NordLand Business Development ApS Bankrupt
- NordicTemp IVS Bankrupt
- Petersens Special Drinks ApS Bankrupt
- Repay Finance ApS Bankrupt
- SALGSGRUPPEN ApS Bankrupt
- SGM LAB ApS Bankrupt
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Questions and answers about Puzzel A/S
Has Puzzel A/S gone bankrupt?
No, Puzzel A/S is not registered as bankrupt in the CVR register. Its status is: active.
What is the bankruptcy risk of Puzzel A/S?
Our model estimates a bankruptcy risk of 0.1% over the next 12 months (low risk), which is 0.1 times the average for Danish companies.
Who is the CEO of Puzzel A/S?
Frederic Laziou is the CEO of Puzzel A/S.
Who is the auditor of Puzzel A/S?
Puzzel A/S most recently used EY Godkendt Revisionspartnerselskab.
When was Puzzel A/S founded?
Puzzel A/S was founded on 9 March 2000.
What is the equity of Puzzel A/S?
Equity was DKK 30.0m according to the annual report for the period ending 31 December 2025.
Source: the CVR register and annual reports published by the Danish Business Authority. The information is updated continuously.