Modern American Recycling Services, Europe A/S

CVR 39610922 · Public limited company (A/S) · Active · Medium risk

Modern American Recycling Services, Europe A/S is a Public limited company (A/S), founded on , based in Frederikshavn. The company is registered in the industry genindvinding af materialer. Our model estimates a bankruptcy risk of 2.3% over the next 12 months, which is 1.6 times the average for Danish companies. 7 annual reports have been published, of which 2 more than six months after the end of the financial year. The latest annual report (30 Sep 2025) shows equity of DKK 37.8m and a net result of DKK -13.1m.

Bankruptcy risk for Modern American Recycling Services, Europe A/S

2.3%
probability of bankruptcy within 12 months
Medium risk

1.6 × the average (1.41%) · higher risk than 84% of active Danish companies

Lowest riskHighest risk

Increases the risk

Qualification / emphasis of matterYes · bankruptcy rate 29.3%3.3×
Going-concern uncertaintyYes · bankruptcy rate 16.3%1.9×
Number of CEOs0 · bankruptcy rate 12.7%1.4×
Current ratio50%–100% · bankruptcy rate 11.7%1.3×
CEO's other companies0 · bankruptcy rate 10.9%1.2×
Share of late annual reports25%–50% · bankruptcy rate 10.6%1.2×
Annual reports filed late2 · bankruptcy rate 10.4%1.2×
Loss for the yearYes · bankruptcy rate 10.3%1.2×

Reduces the risk

Equity vs. share capital5+× · bankruptcy rate 2.5%0.28×
Reporting classReporting class C, mellemstor virksomhed · bankruptcy rate 2.5%0.28×
Time at current address5+ yrs · bankruptcy rate 3.1%0.35×
Company typeA/S · bankruptcy rate 4.4%0.50×
Number of auditors (historical)2 · bankruptcy rate 4.6%0.52×
Auditor registered in CVRYes · bankruptcy rate 4.8%0.55×
Audit opted outNo · bankruptcy rate 4.8%0.55×
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
39610922
Status
Active
Company type
Public limited company (A/S)
Founded
(8 years)
Address
Sandholm 55H
9900 Frederikshavn
Municipality
Frederikshavn
Industry
Genindvinding af materialer (382100)
Bankruptcies in the industry: Genbrug af sorterede materialer
Share capital
DKK 500k
Employees
0 (2018)
Auditor
BDO Statsautoriseret Revisionspartnerselskab
Audit opted out
No

Warning signs

Annual reports filed late2 of 7
Missing annual reportNo
Negative equityNo
Equity ratio11.5%
Current ratio98%
Moves (last 2 years)0
CEO changes in total3
CEO's previous bankruptcies0
Other companies at the address2
Going-concern uncertaintyYes

Financials and key figures

Financial year202520242023
Gross profitDKK 96.1mDKK 59.4mDKK 147.8m
Net profitDKK -13.1mDKK -28.9mDKK 48.5m
EquityDKK 37.8mDKK 51.0mDKK 79.8m
Total assetsDKK 330.0mDKK 335.2mDKK 264.3m
CashDKK 102.7mDKK 126.5m–
Short-term debtDKK 197.1mDKK 179.5m–
Tax owedDKK 0DKK 588k–
Avg. employees128120–

Latest annual report: Reporting class C, mellemstor virksomhed · auditor's statement: Den uafhængige revisors erklæring · BDO Statsautoriseret Revisionspartnerselskab.

Filed annual reports

Reporting periodPublishedDays after period end
1 Oct 2024 – 30 Sep 2025211 Late
1 Oct 2023 – 30 Sep 2024198 Late
1 Oct 2022 – 30 Sep 2023177
1 Oct 2021 – 30 Sep 2022168
1 Oct 2020 – 30 Sep 2021151
1 Oct 2019 – 30 Sep 2020167
31 May 2018 – 30 Sep 2019168

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
CEODwight James Caton, SR.
CEOKim Thygesen
BoardDwight James Caton, SR.Current
BoardKristi B. CatonCurrent
BoardKim ThygesenCurrent
BoardAbel Joseph Garcia
BoardThomas Matthew Clarke
BoardWilliam Travis Grove
BoardBryan Jude Samanie
Owner (100%)Modern American Recycling Services, Inc.Current
AuditorBDO Statsautoriseret RevisionspartnerselskabCurrent
AuditorBDO Holding VII, statsautoriseret revisionsaktieselskab
FounderModern American Recycling Services, Inc.Current

The CEOs' other companies

Kim Thygesen – 1 other companies

Address history (1 moves)

Sandholm 55H, 9900 Frederikshavn
c/o HjulmandKaptain Adv.partnerselskab, Havnepladsen 7, 9900 Frederikshavn

Employees per year

Number of employees at Modern American Recycling Services, Europe A/S per year112018: 02018

Other companies at the same address

Similar companies in Frederikshavn

Questions and answers about Modern American Recycling Services, Europe A/S

Has Modern American Recycling Services, Europe A/S gone bankrupt?

No, Modern American Recycling Services, Europe A/S is not registered as bankrupt in the CVR register. Its status is: active.

What is the bankruptcy risk of Modern American Recycling Services, Europe A/S?

Our model estimates a bankruptcy risk of 2.3% over the next 12 months (medium risk), which is 1.6 times the average for Danish companies.

Who is the auditor of Modern American Recycling Services, Europe A/S?

Modern American Recycling Services, Europe A/S most recently used BDO Statsautoriseret Revisionspartnerselskab.

When was Modern American Recycling Services, Europe A/S founded?

Modern American Recycling Services, Europe A/S was founded on 31 May 2018.

What is the equity of Modern American Recycling Services, Europe A/S?

Equity was DKK 37.8m 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.