Dual ApS Due Diligence

Run due diligence on Dual ApS: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by Independent (Denmark) · wearedual.dk · 6 vendors

Dual ApS is a Copenhagen-based web development company that designs and builds custom web systems and websites for small teams and businesses. Founded by Jim Pannell and Michael Rasmussen, the company has been active since the early 2000s, offering services including bespoke web systems, SEO/performance/UX audits, business process clarity, and modernisation of legacy systems. They emphasise long-term client relationships, with some customers having stayed with them for over 15 years.

Resilience scores

Technology vendors

Insights

Last updated 2026-10-15 · revision 21

6 direct vendors, 88 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

7 in-scope frameworks identified; showing 3.

ISAE 3000 (source) — No public evidence

ISAE 3000 is a standard for assurance engagements other than audits or reviews of historical financial information. It can be used for a wide range of reports, including those on internal controls, sustainability, and compliance.

ISO 27001 (source) — No public evidence

ISO 27001 is a globally recognized standard for information security management. Technology companies like Dual ApS often seek this certification to demonstrate their commitment to data security to customers and partners.

Markedsføringsloven — No public evidence

The Danish Marketing Practices Act (Markedsføringsloven) applies to all businesses operating in Denmark, including Dual ApS, and governs how they can market their products and services.

Financials

Three-year financials

Financial Resilience Score: 5/10

Dual ApS is a micro-studio with a two-person owner-operator model that has demonstrated longevity through long-tenured client relationships (15+ years with flagship clients like PortugalProperty.com and My-French-House.com since the 2000s). The company has maintained positive equity throughout the observed period, well above the DKK 20K statutory minimum for a Danish ApS, and benefits from a low fixed-cost structure where salary costs scale with workload. Diversification across bespoke web systems, SEO/UX audits, consulting, and legacy modernisation services reduces single-stream reliance. However, financial performance has been volatile with an alternating profit/loss pattern over the past four years. Gross profit fell 30.8% in FY2024/25 to DKK 817K, EBIT swung to a loss of DKK -223K, and equity declined to DKK 94.9K, providing only a thin cushion against further losses. Key-person concentration risk is severe with only two employees (both founders), meaning any disruption to either founder would directly impact revenue. Revenue is not disclosed (micro-entity exemption), limiting external benchmarking. Likely customer concentration from flagship international portal clients adds further risk, and the legacy-stack modernisation tailwind (Drupal 7, old PHP) is a finite opportunity as that installed base shrinks.

Key strengths: Very long customer tenure (15+ years with flagship clients since 2003), Owner-operator model with low fixed costs scaling with workload, Positive equity throughout the cycle, above statutory minimum, Diversified service portfolio across web systems, SEO/UX, consulting, and legacy modernisation, Incorporated since 2014 with founder client relationships predating the entity

Risk factors: Key-person concentration with only 2 employees (both founders), Thin equity cushion of DKK 94.9K provides limited loss absorption, Volatile profitability with alternating profit/loss pattern over 4 years, Gross profit dropped ~31% in most recent year (FY2024/25), No revenue disclosure limits benchmarking and lender assessment, Likely material customer concentration from flagship international portal clients, Finite technology-cycle exposure to legacy-stack migration services, Project-driven, lumpy revenue with no sustained growth trend

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