Bad Company ApS

CVR 38834053 · Private limited company (ApS) · Active · Medium risk

Bad Company ApS is a Private limited company (ApS), founded on , based in Morud. The company is registered in the industry fotografiske aktiviteter. Our model estimates a bankruptcy risk of 1.4% over the next 12 months, which is 1.0 times the average for Danish companies. 8 annual reports have been published. The latest annual report (31 Dec 2025) shows equity of DKK -47k and a net result of DKK -127k. CEO: Martin Panduro Kruse.

Bankruptcy risk for Bad Company 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

Negative equityYes · bankruptcy rate 17.5%2.0×
Equity vs. share capital< 0× · bankruptcy rate 17.3%2.0×
Return on assets< -20% · bankruptcy rate 16.7%1.9×
Equity ratio-50%–0% · bankruptcy rate 14.8%1.7×
Auditor's statementNo assurance · bankruptcy rate 13.2%1.5×
Number of auditors (historical)0 · bankruptcy rate 12.5%1.4×
Website registeredYes · bankruptcy rate 12.0%1.4×
Current ratio50%–100% · bankruptcy rate 11.7%1.3×

Reduces the risk

Time since new CEO5+ yrs · bankruptcy rate 3.8%0.43×
Share of late annual reports< 0.01% · bankruptcy rate 5.2%0.59×
Reporting classReporting class B · bankruptcy rate 5.7%0.65×
Change in employeesUnchanged · bankruptcy rate 6.0%0.68×
RegionSyddanmark · bankruptcy rate 6.0%0.68×
Published annual reports5–10 · bankruptcy rate 6.3%0.72×
Going-concern uncertaintyNo · bankruptcy rate 6.4%0.73×
Capital changes1 · bankruptcy rate 7.0%0.80×

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
38834053
Status
Active
Company type
Private limited company (ApS)
Founded
(9 years)
Address
Tværskovvej 43
5462 Morud
Municipality
Nordfyns
Industry
Fotografiske aktiviteter (742000)
Bankruptcies in the industry: Andre liberale, videnskabelige og tekniske tjenesteydelser i.a.n.
Share capital
DKK 40k
Employees
2 (2018)
Audit opted out
Yes

Warning signs

Annual reports filed late0 of 8
Missing annual reportNo
Negative equityYes
Equity ratio-23.2%
Current ratio75%
Moves (last 2 years)0
CEO changes in total1
CEO's previous bankruptcies0
Other companies at the address1
Going-concern uncertaintyNo

Financials and key figures

Financial year202520242023
Gross profitDKK 459kDKK 1.0mDKK 859k
Net profitDKK -127kDKK 152kDKK 142k
EquityDKK -47kDKK 232kDKK 110k
Total assetsDKK 202kDKK 628kDKK 515k
CashDKK 62kDKK 272k–
Short-term debtDKK 229kDKK 367k–
Tax owed–DKK 0–
Avg. employees11–

Latest annual report: Reporting class B · auditor's statement: No assurance.

Filed annual reports

Reporting periodPublishedDays after period end
1 Jan 2025 – 31 Dec 2025179
1 Jan 2024 – 31 Dec 2024168
1 Jan 2023 – 31 Dec 2023166
1 Jan 2022 – 31 Dec 2022157
1 Jan 2021 – 31 Dec 2021111
1 Jan 2020 – 31 Dec 2020139
1 Jan 2019 – 31 Dec 201935
4 Aug 2017 – 31 Dec 2018140

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
CEOMartin Panduro KruseCurrent
CEONick Degn Pedersen
Owner (100%)MaPK Holding ApSCurrent
Owner (50%)NiDP Holding ApS
Owner (50%)MaPK Holding ApS
FounderNiDP Holding ApSCurrent
FounderMaPK Holding ApSCurrent

The CEOs' other companies

Martin Panduro Kruse – 1 other companies

Nick Degn Pedersen – 2 other companies

Address history (2 moves)

Tværskovvej 43, 5462 Morud
Tværskovvej 43, 5462 Morud
Skibhusvej 59E, 5000 Odense C

Former names

Bad Company ApS – now
Bad Company IVS –

Employees per year

Number of employees at Bad Company ApS per year122017: 220172018: 22018

Other companies at the same address

Similar companies in Nordfyns

Questions and answers about Bad Company ApS

Has Bad Company ApS gone bankrupt?

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

What is the bankruptcy risk of Bad Company 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 Bad Company ApS?

Martin Panduro Kruse is the CEO of Bad Company ApS.

When was Bad Company ApS founded?

Bad Company ApS was founded on 4 August 2017.

What is the equity of Bad Company ApS?

Equity was DKK -47k 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.