H+ A/S Due Diligence

Run due diligence on H+ A/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by Independent (Denmark) · hplus.dk · 11 vendors

H+ A/S is a Danish architecture and consultancy firm operating across five service areas: Life (housing, schools, cultural institutions), Work (workplaces and public administration), Tech (complex technical environments such as hospitals, laboratories, and data centres), Heritage (restoration and transformation of listed buildings), and Assets (strategic property portfolio advisory and maintenance). The firm works at the intersection of architecture, engineering, and strategy, acting as a close partner to clients from early planning through to long-term building operation. It has offices in Copenhagen, Odense, Aarhus, Kastrup, Nakskov, and Rønne.

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 11 sub-vendors.

Insights

Last updated 2026-10-15 · revision 1

11 direct vendors, 160 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 6/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

H+ A/S benefits significantly from an explicitly stated low vendor lock-in risk, supported by a diverse vendor base of 11 providers. This is a crucial factor for migration readiness, as it suggests the company has flexibility in choosing new solutions or migrating existing ones without being heavily constrained by single vendor dependencies. The presence of WordPress and Elementor in the tech stack indicates that at least parts of their digital presence could be relatively straightforward to migrate to cloud-based hosting environments. However, several factors introduce complexity and uncertainty regarding migration readiness. The internal tech stack includes specialized BIM/architectural design tools like Enscape and V-Ray, which often have specific hardware requirements (e.g., powerful GPUs) or licensing models that can complicate a direct lift-and-shift or re-platforming to a cloud-native architecture. The deployment model of HR-Manager is also unknown, which could range from an easily migratable SaaS solution to a more challenging on-premise system. Furthermore, there are significant data gaps concerning the regulatory environment, data residency requirements, and the company's financial stability, all of which are critical considerations for planning and funding a successful migration. While the low vendor lock-in is a strong advantage, the potential complexities of the specialized tech stack and the missing information temper the overall migration readiness.

Compliance

10 in-scope frameworks identified; showing 3.

SOC 2 (source) — No public evidence

SOC 2 is a voluntary compliance standard for service organizations, developed by the American Institute of CPAs (AICPA), focusing on trust services criteria.

Udbudsloven — No public evidence

H+ A/S, as an architectural and consulting firm, likely participates in public tenders in Denmark, making the Danish Public Procurement Act applicable to their relevant projects.

BR18 — No public evidence

As an architectural and consulting firm involved in construction projects in Denmark, H+ A/S is required to adhere to the Danish Building Regulations (Bygningsreglementet 2018).

Financials

Three-year financials

Financial Resilience Score: 7/10

H+ A/S demonstrates solid financial resilience for a small Danish architecture firm. Revenue has grown consistently every year from DKK 114m in FY2021 to DKK 164m in FY2025, representing a ~9.5% CAGR, with headcount scaling in parallel from 89 to 111 average FTEs. The company has been profitable in each of the last five fiscal years, with EBIT margins improving from 5.9% to 6.2% between 2024 and 2025. Solvency is rated 'god' (good) at 30.5% in 2025 (36% in 2024), and equity rose 20.6% to DKK 25.2m, indicating self-funded growth with limited dividend distribution. A key strength is the firm's specialisation in framework agreements with major public and private clients, providing recurring, lower-volatility revenue unusual in the architecture sector. Diversification across five business lines (+Life, +Work, +Tech, +Heritage, +Assets) spans housing, workplaces, hospitals/labs/data centres, heritage, and portfolio advisory, reducing single-segment exposure. However, the firm remains exposed to Danish construction cycles with no international diversification, liquidity declined from 225.5% to 175.1% as the balance sheet expanded faster than cash buffers, and return on assets fell from 12.7% to 9.7%, suggesting new assets are not yet fully productive. At DKK 164m revenue and 111 FTEs, scale remains small, and the partner-led model concentrates key-person execution risk.

Key strengths: Sustained revenue growth of ~9.5% CAGR from 2021-2025, Consistent profitability every year for last five fiscal years, Strong solvency ratio of 30.5% (rated 'good'), Equity grew 20.6% YoY to DKK 25.2m, indicating self-funded growth, Framework-agreement specialism providing recurring revenue, Diversified across five business lines and end-markets, Headcount expansion from 89 to 111 average FTEs (plus 118 current), Improving revenue per employee (DKK 1.28m to DKK 1.48m)

Risk factors: Single-country concentration - 100% Denmark-based operations, Liquidity ratio declining from 225.5% to 175.1%, Return on assets fell from 12.7% to 9.7%, Small scale (DKK 164m revenue, 111 FTEs) by sector standards, Exposure to Danish construction cycles and public-sector capex, Key-person/partner-led execution risk, Potential vulnerability to loss of a single large framework agreement

Revenue by geography

Workforce by country

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