One of the (many) things that I like about Europe is that there is always heraldry to be seen nearby. Often very nearby. Right outside the front door, many times. (Sometimes right outside your window, but we'll get to that one next time.)
The letters on the flag read: I.O.O.F. DANMARK (along with the three link chain emblem of the organization), for the Independent Order of Odd Fellows. The building is known now as the Oddfellows Mansion.
The arms are surrounded by a collar of the Danish Order of the Elephant, and the shield is surmounted with the coronet of a Danish count. (Please feel free to click on any of the images above to see a larger, more detailed version.)