ARGON 18 Europe ApS

CVR 38677470 · Private limited company (ApS) · Active · Medium risk

ARGON 18 Europe ApS is a Private limited company (ApS), founded on , based in Lynge. The company is registered in the industry engroshandel med cykler, sportsartikler og lystbåde. Our model estimates a bankruptcy risk of 1.4% over the next 12 months, which is 1.0 times the average for Danish companies. 9 annual reports have been published. The latest annual report (31 Dec 2025) shows equity of DKK -62.7m and a net result of DKK -8.4m. CEO: Mark John Hewitt.

Bankruptcy risk for ARGON 18 Europe ApS

1.4%
probability of bankruptcy within 12 months
Medium risk

1.0 × the average (1.41%) · higher risk than 77% of active Danish companies

Lowest riskHighest risk

Increases the risk

Equity ratio< -50% · bankruptcy rate 19.3%2.2×
Negative equityYes · bankruptcy rate 17.5%2.0×
Equity vs. share capital< 0× · bankruptcy rate 17.3%2.0×
Going-concern uncertaintyYes · bankruptcy rate 16.3%1.9×
Time since new CEO1 yrs · bankruptcy rate 16.2%1.8×
Current ratio50%–100% · bankruptcy rate 11.7%1.3×
RegionHovedstaden · bankruptcy rate 11.6%1.3×
Annual reports filed late1 · bankruptcy rate 11.3%1.3×

Reduces the risk

Auditor's statementExtended review · bankruptcy rate 2.9%0.33×
Time at current address5+ yrs · bankruptcy rate 3.1%0.35×
CEOs in total (historical)5+ · bankruptcy rate 3.8%0.43×
Share of late annual reports0.01%–25% · bankruptcy rate 4.5%0.51×
Auditor registered in CVRYes · bankruptcy rate 4.8%0.55×
Audit opted outNo · bankruptcy rate 4.8%0.55×
Reporting classReporting class B · bankruptcy rate 5.7%0.65×
Has a boardYes · bankruptcy rate 6.0%0.68×

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
38677470
Status
Active
Company type
Private limited company (ApS)
Founded
(9 years)
Address
Vassingerødvej 147
3540 Lynge
Municipality
Allerød
Industry
Engroshandel med cykler, sportsartikler og lystbåde (464910)
Bankruptcies in the industry: Engroshandel med andre maskiner og andet udstyr
Share capital
DKK 1.1m
Employees
10 (2018)
Auditor
EY Godkendt Revisionspartnerselskab
Audit opted out
No

Warning signs

Annual reports filed late1 of 9
Missing annual reportNo
Negative equityYes
Equity ratio-148.4%
Current ratio68%
Moves (last 2 years)0
CEO changes in total8
CEO's previous bankruptcies0
Other companies at the address10
Going-concern uncertaintyYes

Financials and key figures

Financial year202520242023
RevenueDKK 44.4mDKK 39.7mDKK 28.3m
Gross profitDKK 1.4mDKK -10.0mDKK -8.8m
Net profitDKK -8.4mDKK -19.2mDKK -15.9m
EquityDKK -62.7mDKK -54.3mDKK -35.1m
Total assetsDKK 42.2mDKK 38.3mDKK 43.7m
CashDKK 1.4mDKK 726k–
Short-term debtDKK 60.4mDKK 63.1m–
Avg. employees1313–

Latest annual report: Reporting class B · auditor's statement: Erklæring om udvidet gennemgang · (venstre underskriver).

Filed annual reports

Reporting periodPublishedDays after period end
1 Jan 2025 – 31 Dec 2025183
1 Jan 2024 – 31 Dec 2024105
1 Jan 2023 – 31 Dec 2023137
1 Jan 2022 – 31 Dec 2022145
1 Jan 2021 – 31 Dec 2021137
1 Jan 2020 – 31 Dec 2020161
1 Jan 2019 – 31 Dec 2019182
1 Jan 2018 – 31 Dec 2018143
31 May 2017 – 31 Dec 2017152

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
CEOMark John HewittCurrent
CEOPeter Stefan Bengt Bixe
CEONils Macheel
CEOJan Sørensen
CEOPeter Wainø
CEOJan Sørensen
BoardHenrik Lyngbye PedersenCurrent
BoardFrancois BastienCurrent
BoardJan Sørensen
BoardMartin LeSauteur
BoardRené Étienne Racine
Owner (100%)CYCLES ARGON-18 Inc.Current
Owner (100%)BREGNERØD INVESTERINGSSELSKAB ApS
Owner (90%)BREGNERØD INVESTERINGSSELSKAB ApS
Owner (5%)JSE CONSULTING & MANAGEMENT HOLDING ApS
Owner (5%)Peter Stefan Bengt Bixe
Owner (90%)BREGNERØD INVESTERINGSSELSKAB ApS
Owner (100%)BREGNERØD INVESTERINGSSELSKAB ApS
AuditorEY Godkendt RevisionspartnerselskabCurrent
FounderBREGNERØD INVESTERINGSSELSKAB ApSCurrent

The CEOs' other companies

Nils Macheel – 2 other companies

Jan Sørensen – 17 other companies, of which 3 bankrupt

Address history (0 moves)

Vassingerødvej 147, 3540 Lynge

Former names

ARGON 18 Europe ApS – now
United Cycling ApS –

Employees per year

Number of employees at ARGON 18 Europe ApS per year5102017: 520172018: 102018

Other companies at the same address

Similar companies in Allerød

Questions and answers about ARGON 18 Europe ApS

Has ARGON 18 Europe ApS gone bankrupt?

No, ARGON 18 Europe ApS is not registered as bankrupt in the CVR register. Its status is: active.

What is the bankruptcy risk of ARGON 18 Europe ApS?

Our model estimates a bankruptcy risk of 1.4% over the next 12 months (medium risk), which is 1.0 times the average for Danish companies.

Who is the CEO of ARGON 18 Europe ApS?

Mark John Hewitt is the CEO of ARGON 18 Europe ApS.

Who is the auditor of ARGON 18 Europe ApS?

ARGON 18 Europe ApS most recently used EY Godkendt Revisionspartnerselskab.

When was ARGON 18 Europe ApS founded?

ARGON 18 Europe ApS was founded on 31 May 2017.

What is the equity of ARGON 18 Europe ApS?

Equity was DKK -62.7m 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.