TSF HOLDINGSELSKAB ApS

CVR 28517718 · Private limited company (ApS) · Active · Low risk

TSF HOLDINGSELSKAB ApS is a Private limited company (ApS), founded on 31 March 2005, based in Herning. The company is registered in the industry ikke-finansielle holdingselskaber. Our model estimates a bankruptcy risk of 0.0% over the next 12 months, which is 0.0 times the average for Danish companies. 20 annual reports have been published. The latest annual report (30 Sep 2025) shows equity of DKK 3.0m and a net result of DKK 150k. CEO: Thomas Sandfeld Frandsen.

Bankruptcy risk for TSF HOLDINGSELSKAB ApS

0.0%

probability of bankruptcy within 12 months

Low risk

0.0 × the average (1.41%) · higher risk than 0% of active Danish companies

Lowest riskHighest risk

Increases the risk

Audit opted outYes · bankruptcy rate 10.4%1.2×

Auditor registered in CVRNo · bankruptcy rate 10.4%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×

Published annual reports10+ · bankruptcy rate 3.0%0.35×

Equity ratio60%+ · bankruptcy rate 3.3%0.38×

Time since new CEO5+ yrs · bankruptcy rate 3.8%0.43×

Number of auditors (historical)2 · bankruptcy rate 4.6%0.52×

Negative equityNo · bankruptcy rate 5.1%0.58×

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: 28517718
Status: Active
Company type: Private limited company (ApS)
Founded: 31 March 2005 (21 years)
Address: c/o Thomas S. Frandsen, Nr. Lindvænget 11
7400 Herning
Municipality: Herning
Industry: Ikke-finansielle holdingselskaber (642120)
Bankruptcies in the industry: Ikke-finansielle holdingselskaber
Share capital: DKK 125k
Auditor: BDO Statsautoriseret Revisionspartnerselskab
Audit opted out: Yes

Warning signs

Annual reports filed late	0 of 21
Missing annual report	No
Negative equity	No
Equity ratio	100.0%
Current ratio	96,969%
Moves (last 2 years)	0
CEO changes in total	0
CEO's previous bankruptcies	0
Other companies at the address	0
Going-concern uncertainty	No

Financials and key figures

Financial year	2025	2024
Gross profit	DKK -32k	DKK -15k
Net profit	DKK 150k	DKK 488k
Equity	DKK 3.0m	DKK 3.1m
Total assets	DKK 3.0m	DKK 3.1m
Cash	DKK 1.2m	–
Short-term debt	DKK 1,509	–
Avg. employees	0	–

Latest annual report: Reporting class B · auditor's statement: Andre erklæringer uden sikkerhed · BDO Statsautoriseret Revisionspartnerselskab.

Filed annual reports

Reporting period	Published	Days after period end
1 Oct 2024 – 30 Sep 2025	12 Jan 2026	104
1 Oct 2023 – 30 Sep 2024	22 Jan 2025	114
1 Oct 2022 – 30 Sep 2023	8 Feb 2024	131
1 Oct 2021 – 30 Sep 2022	31 Jan 2023	123
1 Oct 2020 – 30 Sep 2021	26 Jan 2022	118
1 Oct 2019 – 30 Sep 2020	25 Jan 2021	117
1 Oct 2018 – 30 Sep 2019	21 Jan 2020	113
1 Oct 2017 – 30 Sep 2018	15 Jan 2019	107
1 Oct 2016 – 30 Sep 2017	25 Jan 2018	117
1 Oct 2015 – 30 Sep 2016	16 Jan 2017	108
1 Oct 2014 – 30 Sep 2015	3 Feb 2016	126
1 Oct 2013 – 30 Sep 2014	3 Feb 2015	126
1 Oct 2012 – 30 Sep 2013	23 Jan 2014	115
1 Oct 2011 – 30 Sep 2012	8 Jan 2013	100
1 Oct 2010 – 30 Sep 2011	29 Dec 2011	90
1 Oct 2009 – 30 Sep 2010	6 Jan 2011	98
1 Oct 2008 – 30 Sep 2009	18 Feb 2010	141
1 Oct 2007 – 30 Sep 2008	19 Feb 2009	142
1 Oct 2006 – 30 Sep 2007	28 Jan 2008	120
1 Oct 2005 – 30 Sep 2006	1 Mar 2007	152

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	Thomas Sandfeld Frandsen	31 Mar 2005	Current
Owner (100%)	Thomas Sandfeld Frandsen	31 Mar 2005	Current
Owner (100%)	Thomas Sandfeld Frandsen	1 Sep 2001	30 Mar 2005
Auditor	AKTIESELSKABET AF 10. AUGUST 1998	31 Mar 2005	9 Jan 2009
Auditor	Jan Juul Buskbjerg	9 Jan 2009	2 Feb 2015
Founder	Thomas Sandfeld Frandsen	31 Mar 2005	Current

The CEOs' other companies

Thomas Sandfeld Frandsen – 2 other companies

ALL GRAPHIC A/S Active
TKS HOLDINGSELSKAB ApS Opløst

Address history (2 moves)

24 Mar 2023	c/o Thomas S. Frandsen, Nr. Lindvænget 11, 7400 Herning
15 Mar 2007	c/o Thomas S. Frandsen, Nr. Lindvænget 11, 7400 Herning
31 Mar 2005	Silkeborgvej 63, st., 7400 Herning

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Questions and answers about TSF HOLDINGSELSKAB ApS

Has TSF HOLDINGSELSKAB ApS gone bankrupt?

No, TSF HOLDINGSELSKAB ApS is not registered as bankrupt in the CVR register. Its status is: active.

What is the bankruptcy risk of TSF HOLDINGSELSKAB ApS?

Our model estimates a bankruptcy risk of 0.0% over the next 12 months (low risk), which is 0.0 times the average for Danish companies.

Who is the CEO of TSF HOLDINGSELSKAB ApS?

Thomas Sandfeld Frandsen is the CEO of TSF HOLDINGSELSKAB ApS.

Who is the auditor of TSF HOLDINGSELSKAB ApS?

TSF HOLDINGSELSKAB ApS most recently used BDO Statsautoriseret Revisionspartnerselskab.

When was TSF HOLDINGSELSKAB ApS founded?

TSF HOLDINGSELSKAB ApS was founded on 31 March 2005.

What is the equity of TSF HOLDINGSELSKAB ApS?

Equity was DKK 3.0m according to the annual report for the period ending 30 September 2025.

Source: the CVR register and annual reports published by the Danish Business Authority. The information is updated continuously.