Cernel ApS

CVR 44052857 · Private limited company (ApS) · Active · High risk

Cernel ApS is a Private limited company (ApS), founded on , based in Aarhus C. The company is registered in the industry computerprogrammering. Our model estimates a bankruptcy risk of 4.5% over the next 12 months, which is 3.2 times the average for Danish companies. 3 annual reports have been published, of which 2 more than six months after the end of the financial year. The latest annual report (31 Dec 2025) shows equity of DKK 22.3m and a net result of DKK -4.9m. CEO: Mathias Tusgaard Fenger-Eriksen, Magnus Bruun Rasmussen.

Bankruptcy risk for Cernel ApS

4.5%
probability of bankruptcy within 12 months
High risk

3.2 × the average (1.41%) · higher risk than 91% of active Danish companies

Lowest riskHighest risk

Increases the risk

Share of late annual reports50%–75% · bankruptcy rate 18.4%2.1×
Time at current address0.5–1 yrs · bankruptcy rate 16.5%1.9×
Age (years)3–5 yrs · bankruptcy rate 13.3%1.5×
Moves in the last 2 years1 · bankruptcy rate 12.7%1.4×
Website registeredYes · bankruptcy rate 12.0%1.4×
Published annual reports3–5 · bankruptcy rate 11.7%1.3×
Time since new CEO2–5 yrs · bankruptcy rate 10.8%1.2×
Annual reports filed late2 · bankruptcy rate 10.4%1.2×

Reduces the risk

Current ratio500%+ · bankruptcy rate 1.5%0.17×
Equity vs. share capital5+× · bankruptcy rate 2.5%0.28×
Equity ratio60%+ · bankruptcy rate 3.3%0.38×
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×
Registered owners4+ · bankruptcy rate 5.7%0.65×
Reporting classReporting class B · bankruptcy rate 5.7%0.65×

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
44052857
Status
Active
Company type
Private limited company (ApS)
Founded
(3 years)
Address
Dalgas Avenue 2F, 2.
8000 Aarhus C
Municipality
Aarhus
Industry
Computerprogrammering (621000)
Bankruptcies in the industry: Konsulentbistand vedrørende informationsteknologi
Share capital
DKK 76k
Auditor
Beierholm Godkendt Revisionspartnerselskab
Audit opted out
No

Warning signs

Annual reports filed late2 of 3
Missing annual reportNo
Negative equityNo
Equity ratio89.8%
Current ratio2,423%
Moves (last 2 years)1
CEO changes in total3
CEO's previous bankruptcies0
Other companies at the address8
Going-concern uncertaintyNo

Financials and key figures

Financial year202520242023
Gross profitDKK -964kDKK -115kDKK 180
Net profitDKK -4.9mDKK -840kDKK -111k
EquityDKK 22.3mDKK 3.0mDKK -71k
Total assetsDKK 24.8mDKK 3.3mDKK 22k
CashDKK 23.5mDKK 3.3m–
Short-term debtDKK 1.0mDKK 345k–
Avg. employees102–

Latest annual report: Reporting class B · auditor's statement: Revisionspåtegning · Beierholm.

Filed annual reports

Reporting periodPublishedDays after period end
1 Jan 2025 – 31 Dec 2025188 Late
1 Jan 2024 – 31 Dec 2024119
12 May 2023 – 31 Dec 2023184 Late

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
CEOMathias Tusgaard Fenger-EriksenCurrent
CEOMagnus Bruun RasmussenCurrent
CEOAndreas Magnus Busch
BoardChristian Stampe VintherCurrent
BoardGeeta Suresh SchmidtCurrent
BoardAndreas Magnus BuschCurrent
BoardMagnus Bruun RasmussenCurrent
BoardChristian Stampe Vinther
BoardMagnus Bruun Rasmussen
BoardMathias Tusgaard Fenger-Eriksen
BoardAndreas Magnus Busch
Owner (5%)Founderment A/SCurrent
Owner (5%)Magnus Bruun Invest ApSCurrent
Owner (33%)MA Holding 2023 ApSCurrent
Owner (20%)Seed Capital V K/SCurrent
Owner (33%)Andreas Magnus Busch
Owner (10%)Jacob Ib Sonne-Schmidt
Owner (33%)Mathias Tusgaard Fenger-Eriksen
Owner (5%)Jonathan Stouby Nielsen
Owner (5%)Simon Kidde Calundan
Owner (50%)MA Holding 2023 ApS
Owner (50%)MA Holding 2023 ApS
Owner (10%)Magnus Bruun Invest ApS
Owner (5%)Cernel ApS
Owner (67%)MA Holding 2023 ApS
AuditorBeierholm Godkendt RevisionspartnerselskabCurrent
FounderAndreas Magnus BuschCurrent

The CEOs' other companies

Mathias Tusgaard Fenger-Eriksen – 1 other companies

Magnus Bruun Rasmussen – 1 other companies

Andreas Magnus Busch – 1 other companies

Address history (3 moves)

Dalgas Avenue 2F, 2., 8000 Aarhus C
Inge Lehmanns Gade 10, 6., 8000 Aarhus C
Nordborggade 53, 4. th, 8000 Aarhus C
Otte Ruds Gade 31D, 1. tv, 8200 Aarhus N

Other companies at the same address

Similar companies in Aarhus

Questions and answers about Cernel ApS

Has Cernel ApS gone bankrupt?

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

What is the bankruptcy risk of Cernel ApS?

Our model estimates a bankruptcy risk of 4.5% over the next 12 months (high risk), which is 3.2 times the average for Danish companies.

Who is the CEO of Cernel ApS?

Mathias Tusgaard Fenger-Eriksen, Magnus Bruun Rasmussen are the CEOs of Cernel ApS.

Who is the auditor of Cernel ApS?

Cernel ApS most recently used Beierholm Godkendt Revisionspartnerselskab.

When was Cernel ApS founded?

Cernel ApS was founded on 12 May 2023.

What is the equity of Cernel ApS?

Equity was DKK 22.3m 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.