Cavendish Hydrogen A/S

CVR 26933048 · Public limited company (A/S) · Active · Low risk

Cavendish Hydrogen A/S is a Public limited company (A/S), founded on , based in Herning. The company is registered in the industry fremstilling af andre maskiner til generelle formål i.a.n.. Our model estimates a bankruptcy risk of 0.2% over the next 12 months, which is 0.2 times the average for Danish companies. 20 annual reports have been published, of which 4 more than six months after the end of the financial year. The latest annual report (31 Dec 2025) shows equity of DKK 233.5m and a net result of DKK -167.5m.

Bankruptcy risk for Cavendish Hydrogen A/S

0.2%
probability of bankruptcy within 12 months
Low risk

0.2 × the average (1.41%) · higher risk than 49% of active Danish companies

Lowest riskHighest risk

Increases the risk

Return on assets< -20% · bankruptcy rate 16.7%1.9×
Going-concern uncertaintyYes · bankruptcy rate 16.3%1.9×
Number of CEOs0 · bankruptcy rate 12.7%1.4×
Website registeredYes · bankruptcy rate 12.0%1.4×
CEO's other companies0 · bankruptcy rate 10.9%1.2×
Loss for the yearYes · bankruptcy rate 10.3%1.2×

Reduces the risk

Current ratio500%+ · bankruptcy rate 1.5%0.17×
Age (years)20+ yrs · bankruptcy rate 2.0%0.23×
Equity vs. share capital5+× · bankruptcy rate 2.5%0.28×
Reporting classReporting class C, mellemstor virksomhed · bankruptcy rate 2.5%0.28×
Published annual reports10+ · bankruptcy rate 3.0%0.35×
Time at current address5+ yrs · bankruptcy rate 3.1%0.35×
Equity ratio60%+ · bankruptcy rate 3.3%0.38×
Number of auditors (historical)3+ · bankruptcy rate 3.7%0.42×

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
26933048
Status
Active
Company type
Public limited company (A/S)
Founded
(23 years)
Address
Vejlevej 5
7400 Herning
Municipality
Herning
Industry
Fremstilling af andre maskiner til generelle formål i.a.n. (282900)
Bankruptcies in the industry: Fremstilling af øvrige maskiner til specielle formål i.a.n.
Share capital
DKK 22.8m
Employees
94 (2018)
Auditor
EY Godkendt Revisionspartnerselskab
Audit opted out
No

Warning signs

Annual reports filed late4 of 23
Missing annual reportNo
Negative equityNo
Equity ratio76.0%
Current ratio505%
Moves (last 2 years)0
CEO changes in total2
CEO's previous bankruptcies0
Other companies at the address3
Going-concern uncertaintyYes

Financials and key figures

Financial year202520242023
RevenueDKK 79.7mDKK 193.0mDKK 204.1m
Gross profitDKK -28.6mDKK 53.6mDKK 34.0m
Net profitDKK -167.5mDKK -80.5mDKK -125.8m
EquityDKK 233.5mDKK 287.5mDKK 188.2m
Total assetsDKK 307.0mDKK 401.9mDKK 391.9m
CashDKK 33.9mDKK 47.2m–
Short-term debtDKK 30.6mDKK 80.2m–
Avg. employees130189–

Latest annual report: Reporting class C, mellemstor virksomhed · auditor's statement: Revisionspåtegning · EY Godkendt Revisionspartnerselskab.

Filed annual reports

Reporting periodPublishedDays after period end
1 Jan 2025 – 31 Dec 2025187 Late
1 Jan 2024 – 31 Dec 2024184 Late
1 Jan 2023 – 31 Dec 2023191 Late
1 Jan 2022 – 31 Dec 2022181
1 Jan 2021 – 31 Dec 2021181
1 Jan 2020 – 31 Dec 2020158
1 Jan 2019 – 31 Dec 2019141
1 Jan 2018 – 31 Dec 2018136
1 Jan 2017 – 31 Dec 2017151
1 Jan 2016 – 31 Dec 2016136
1 Jan 2015 – 31 Dec 2015162
1 Jan 2014 – 31 Dec 201490
1 Jan 2013 – 31 Dec 2013151
1 Jan 2012 – 31 Dec 2012135
1 Jan 2011 – 31 Dec 2011146
1 Jan 2010 – 31 Dec 2010125
1 Jan 2009 – 31 Dec 2009117
1 Jan 2008 – 31 Dec 2008228 Late
1 Jan 2007 – 31 Dec 2007112
1 Jan 2006 – 31 Dec 2006182

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

RoleNameFromTo
CEOPoul Erik Bak
BoardPeder Hykkelbjerg HansenCurrent
BoardMarcus HallandCurrent
BoardMichael StefanCurrent
BoardKim Madsen
BoardJacob Bech Krogsgaard
BoardPoul Erik Bak
BoardJesper Nissen Boisen
BoardThomas Luckmann
BoardSvend Sigaard
BoardMikael Sloth
BoardFlemming Hansen
BoardMogens Filtenborg
BoardLars Christian Stugaard
BoardMartin Nes
BoardMikael Sloth
BoardJon Andre Løkke
BoardBent Mathias Skisaker
BoardKjell Christian Gyllensten Bjørnsen
BoardTorbjørn Berg
BoardRobert Christian Gustaf Borin
BoardKjell Christian Gyllensten Bjørnsen
BoardHenrik Harto Reisvang
Owner (100%)Cavendish Hydrogen ASACurrent
Owner (10%)NEBRASKA ApS
Owner (67%)H2 HOLDING ApS
Owner (100%)NEL ASA
AuditorEY Godkendt RevisionspartnerselskabCurrent
AuditorERNST & YOUNG DENMARK P/S
AuditorKPMG C.JESPERSEN STATSAUTORISEREDE REVISORER
AuditorBDO Holding VII, statsautoriseret revisionsaktieselskab
AuditorPRICEWATERHOUSECOOPERS STATSAUTORISERET REVISIONSPARTNERSELSKAB
AuditorEY Godkendt Revisionspartnerselskab
FounderApS KBUS 38 nr.3117Current

The CEOs' other companies

Poul Erik Bak – 9 other companies, of which 3 bankrupt

Address history (5 moves)

Vejlevej 5, 7400 Herning
Vejlevej 5, 7400 Herning
Industriparken 34B, 7400 Herning
Tjelevej 42, 7400 Herning
Marienlunds Alle 2, 7430 Ikast
Kronprinsessegade 18, 1306 København K

Former names

Cavendish Hydrogen A/S – now
Nel Hydrogen A/S –
H2 LOGIC A/S –
H2 LOGIC ApS –
MINIHYDROGEN ApS –
ApS KBIL 17 NR. 1505 –

Employees per year

Number of employees at Cavendish Hydrogen A/S per year47942011: 3720112012: 3620122013: 3620132014: 3620142015: 4020152016: 5820162017: 7520172018: 942018

Other companies at the same address

Similar companies in Herning

Questions and answers about Cavendish Hydrogen A/S

Has Cavendish Hydrogen A/S gone bankrupt?

No, Cavendish Hydrogen A/S is not registered as bankrupt in the CVR register. Its status is: active.

What is the bankruptcy risk of Cavendish Hydrogen A/S?

Our model estimates a bankruptcy risk of 0.2% over the next 12 months (low risk), which is 0.2 times the average for Danish companies.

Who is the auditor of Cavendish Hydrogen A/S?

Cavendish Hydrogen A/S most recently used EY Godkendt Revisionspartnerselskab.

When was Cavendish Hydrogen A/S founded?

Cavendish Hydrogen A/S was founded on 1 January 2003.

What is the equity of Cavendish Hydrogen A/S?

Equity was DKK 233.5m 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.