Millstream Capital ApS

CVR 40682848 · Private limited company (ApS) · Active · Low risk

Millstream Capital ApS is a Private limited company (ApS), founded on , based in Kruså. The company is registered in the industry udlejning af erhvervsejendomme. Our model estimates a bankruptcy risk of 0.0% over the next 12 months, which is 0.0 times the average for Danish companies. 6 annual reports have been published, of which 1 more than six months after the end of the financial year. The latest annual report (31 Dec 2025) shows equity of DKK 14.2m and a net result of DKK -847. CEO: Niels Hendrik Müllenbach.

Bankruptcy risk for Millstream Capital ApS

0.0%
probability of bankruptcy within 12 months
Low risk

0.0 × the average (1.41%) · higher risk than 18% of active Danish companies

Lowest riskHighest risk

Increases the risk

Auditor's statementNo assurance · bankruptcy rate 13.2%1.5×
Equity vs. share capital1× · bankruptcy rate 12.9%1.5×
Number of auditors (historical)0 · bankruptcy rate 12.5%1.4×
Annual reports filed late1 · bankruptcy rate 11.3%1.3×
Audit opted outYes · bankruptcy rate 10.4%1.2×
Auditor registered in CVRNo · bankruptcy rate 10.4%1.2×
Loss for the yearYes · bankruptcy rate 10.3%1.2×

Reduces the risk

Current ratio500%+ · bankruptcy rate 1.5%0.17×
Time at current address5+ yrs · bankruptcy rate 3.1%0.35×
Equity ratio60%+ · bankruptcy rate 3.3%0.38×
Time since new CEO5+ yrs · bankruptcy rate 3.8%0.43×
Share of late annual reports0.01%–25% · bankruptcy rate 4.5%0.51×
Negative equityNo · bankruptcy rate 5.1%0.58×
Reporting classReporting class B · bankruptcy rate 5.7%0.65×
Return on assets0%–5% · bankruptcy rate 5.8%0.66×

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
40682848
Status
Active
Company type
Private limited company (ApS)
Founded
(7 years)
Address
Gl Kirkevej 6A
6340 Kruså
Municipality
Aabenraa
Industry
Udlejning af erhvervsejendomme (682040)
Bankruptcies in the industry: Udlejning af erhvervsejendomme
Share capital
DKK 8.6m
Audit opted out
Yes

Warning signs

Annual reports filed late1 of 6
Missing annual reportNo
Negative equityNo
Equity ratio99.5%
Current ratio20,758%
Moves (last 2 years)0
CEO changes in total0
CEO's previous bankruptcies0
Other companies at the address1
Going-concern uncertaintyNo

Financials and key figures

Financial year202520242023
Revenue–DKK 0DKK 0
Gross profitDKK -8,115DKK -6,476DKK -16k
Net profitDKK -847DKK 216kDKK -156k
EquityDKK 14.2mDKK 14.2mDKK 14.0m
Total assetsDKK 14.3mDKK 15.8mDKK 16.0m
CashDKK 19kDKK 10.2m–
Short-term debtDKK 69kDKK 21k–
Tax owedDKK 0DKK 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 2025181
1 Jan 2024 – 31 Dec 2024181
1 Jan 2023 – 31 Dec 2023182
1 Jan 2022 – 31 Dec 2022177
1 Jan 2021 – 31 Dec 2021206 Late
30 Jul 2019 – 31 Dec 2020179

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
CEONiels Hendrik MüllenbachCurrent
Owner (100%)Millstream ApSCurrent
FounderMillstream ApSCurrent

The CEOs' other companies

Niels Hendrik Müllenbach – 1 other companies

Address history (0 moves)

Gl Kirkevej 6A, 6340 Kruså

Other companies at the same address

Similar companies in Aabenraa

Questions and answers about Millstream Capital ApS

Has Millstream Capital ApS gone bankrupt?

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

What is the bankruptcy risk of Millstream Capital 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 Millstream Capital ApS?

Niels Hendrik Müllenbach is the CEO of Millstream Capital ApS.

When was Millstream Capital ApS founded?

Millstream Capital ApS was founded on 30 July 2019.

What is the equity of Millstream Capital ApS?

Equity was DKK 14.2m 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.