TSV ApS (CVR 18939940) company profile

Ownership

No current owner is registered.

Holders of 5% or more, from the owner register. CVR records shares in bands, not exact figures.

Former owners (1)

Michael Schierning Nielsen
100% of capital and votesclass A, B24 Nov 1995 to 12 May 2020

Owned companies

TSV ApS holds no Danish company now.

Found by searching the CVR owner register (ejerregister) for TSV ApS as owner: Danish companies it holds 5% or more of, and their holdings one level down. Foreign holdings are not in CVR.

Former holdings (2)

TSV III ApS
CVR 19167585100% of capital and votes27 Dec 1995 to 4 May 2017
TSV ApS
CVR 34714827100% of capital and votes31 Dec 2013 to 7 Aug 2016

Dandex estimates

Auditor's report (revisorpåtegning): Not determinedNot decided yet: Dandex has not read this company's annual reports for it. Dandex estimate, rules and decision model v1, computed 14 Nov 2026.
Auditor's report findings (revisorpåtegning): Pro: Auditor's report findings (revisorpåtegning) is in the Pro plan, see pricingThe auditor's findings: conclusion, going concern, emphasis, other matters, breaches.
Business model (forretningsmodel): Not determinedNot decided yet: Dandex has not read this company's annual reports for it. Dandex estimate, rules and decision model v1, computed 14 Nov 2026.
Revenue model (indtægtsmodel): Pro: Revenue model (indtægtsmodel) is in the Pro plan, see pricingThe kinds of revenue the accounting policies name, and the main one.

Decided by Dandex with fixed rules from CVR and the filed annual reports, and for the auditor's report, the business model and the revenue model a calibrated decision model reading the report's text and the purpose clause, not registered by the company. Each label links to its definition.

People

Current (0)

CVR lists no current officers for this company.

Founders (1)

Michael Schierning NielsenFounded 20 Nov 1995

CVR records founders at incorporation. It does not record whether they are alive or still involved.

Former (5)

Michael Schierning NielsenExecutive board 20 Nov 1995 to 12 May 2020, Board of directors 20 Nov 1995 to 6 May 2010
Martin Lauge Bek-NielsenBoard of directors 15 May 1997 to 30 Aug 2002
Carl Bek-NielsenBoard of directors 20 Nov 1995 to 15 May 1997
Poula Bæk NielsenBoard of directors 20 Nov 1995 to 1 Jul 2004
Troels Schierning ValeurBoard of directors 30 Aug 2002 to 1 Jul 2004

Roles over time

Former (5)

Michael Schierning Nielsen: Executive board, 20 Nov 1995 to 12 May 2020; Board of directors, 20 Nov 1995 to 6 May 2010.
Poula Bæk Nielsen: Board of directors, 20 Nov 1995 to 1 Jul 2004.
Troels Schierning Valeur: Board of directors, 30 Aug 2002 to 1 Jul 2004.
Martin Lauge Bek-Nielsen: Board of directors, 15 May 1997 to 30 Aug 2002.
Carl Bek-Nielsen: Board of directors, 20 Nov 1995 to 15 May 1997.

20 Nov 1995 to 14 Nov 2026.

Executive board (direktion)Board of directors (bestyrelse)Each bar is one role, from its start to its end or today. Bars in a group share one scale. Source: CVR.

Network

Headcount

CVR holds no employment figures for this company.

Financials

Annual report figures by year, DKK thousands
Metric	2014	2015	2016	2017	2018
Revenue	Not reported	Not reported	0	Not reported	Not reported
Gross profit	Not reported	Not reported	Not reported	-128	86
Operating profit	-21	-17	-46	-1,075	+46
Result for the year	-16	-162	-36	-1,048	-157
Equity	768	546	511	-41	-198
Total assets	1,023	1,395	1,434	278	144
Credit metrics (Dandex calculations)
EBITDA	Not reported^{note 1}	Not reported^{note 1}	Not reported^{note 1}	-128	86
EBITDA / gross profit (EBITDA i procent af bruttofortjenesten)Pro: EBITDA / gross profit (EBITDA i procent af bruttofortjenesten) is in the Pro plan, see pricingEBITDA as a share of gross profit.	Pro: EBITDA / gross profit (EBITDA i procent af bruttofortjenesten) is in the Pro plan, see pricingEBITDA as a share of gross profit.
Net interest-bearing debt (NIBD, nettorentebærende gæld)Pro: Net interest-bearing debt (NIBD, nettorentebærende gæld) is in the Pro plan, see pricingInterest-bearing debt less cash and current securities; negative is net cash.	Pro: Net interest-bearing debt (NIBD, nettorentebærende gæld) is in the Pro plan, see pricingInterest-bearing debt less cash and current securities; negative is net cash.
Gearing, NIBD / EBITDAPro: Gearing, NIBD / EBITDA is in the Pro plan, see pricingNet interest-bearing debt over EBITDA: the years of earnings the debt takes.	Pro: Gearing, NIBD / EBITDA is in the Pro plan, see pricingNet interest-bearing debt over EBITDA: the years of earnings the debt takes.
Interest coverage (rentedækning)Pro: Interest coverage (rentedækning) is in the Pro plan, see pricingEBIT over finance expenses: how many times earnings cover the interest.	Pro: Interest coverage (rentedækning) is in the Pro plan, see pricingEBIT over finance expenses: how many times earnings cover the interest.
Adjusted equity ratio (justeret soliditetsgrad)Pro: Adjusted equity ratio (justeret soliditetsgrad) is in the Pro plan, see pricingAdjusted equity as a share of total assets on the same basis.	Pro: Adjusted equity ratio (justeret soliditetsgrad) is in the Pro plan, see pricingAdjusted equity as a share of total assets on the same basis.
ROIC (afkast af investeret kapital)Pro: ROIC (afkast af investeret kapital) is in the Pro plan, see pricingReturn on invested capital: EBIT after tax over equity plus net debt.	Pro: ROIC (afkast af investeret kapital) is in the Pro plan, see pricingReturn on invested capital: EBIT after tax over equity plus net debt.
Capex (investeringer i anlægsaktiver)	Not reported^{note 2}	Not reported^{note 2}	Not reported^{note 2}	999^{note 3}	93^{note 3}
Capex % of sales (investeringer i procent af omsætningen)Pro: Capex % of sales (investeringer i procent af omsætningen) is in the Pro plan, see pricingCapex as a share of revenue.	Pro: Capex % of sales (investeringer i procent af omsætningen) is in the Pro plan, see pricingCapex as a share of revenue.
FCFF / EBITDA (pengestrømskonvertering)Pro: FCFF / EBITDA (pengestrømskonvertering) is in the Pro plan, see pricingFree cash flow to the firm as a share of EBITDA.	Pro: FCFF / EBITDA (pengestrømskonvertering) is in the Pro plan, see pricingFree cash flow to the firm as a share of EBITDA.

DKK thousands. Annual reports via XBRL.

Credit metrics are Dandex calculations from the filed figures, not filed values; estimates are in grey with a note. Ratios are percentages. Gearing and interest coverage are multiples. Rows marked Pro hold a value in the Pro plan. Definitions.

1 no depreciation line filed
2 no capex filed
3 Dandex estimate: capex from the balance sheet change plus D&A

Credit rating (kreditvurdering): Pro: Credit rating (kreditvurdering) is in the Pro plan, see pricingA score from 0 to 100 with a grade from A to F, from the latest annual reports.
Capital loss (kapitaltab): Pro: Capital loss (kapitaltab) is in the Pro plan, see pricingNegative equity, or equity below half the share capital, in the latest report.
Filing deadline and punctuality (indsendelsesfrist): Pro: Filing deadline and punctuality (indsendelsesfrist) is in the Pro plan, see pricingThe next annual report deadline.

Annual reports

Annual report 2018
1 Jan 2018 to 31 Dec 2018, published 28 May 2019
PDF XHTML
Annual report 2017
1 Jan 2017 to 31 Dec 2017, published 29 May 2018
PDF XHTML
Annual report 2016
1 Jan 2016 to 31 Dec 2016, published 29 May 2017
PDF XHTML
Annual report 2015
1 Jan 2015 to 31 Dec 2015, published 26 Apr 2016
PDF XHTML
Annual report 2014
1 Jan 2014 to 31 Dec 2014, published 1 Jun 2015
PDF XHTML

Financials

Changes

No changes since Dandex began following this company. For announcements from before then, see Registrations.

Signals (signaler)

Pro: Signals (signaler) are in the Pro plan, see pricingChanges worth a look, raised from the registry and new annual reports.

New leadership (nyt lederskab), New company (ny virksomhed), Ownership change (ejerskifte), Relocation (flytning), Growth surge (vækstspurt), Headcount decline (nedgang i ansatte), Restructuring (omstrukturering), Industry change (brancheskift), Board change (bestyrelsesændring), Dissolution (ophør), Distress warning (risikoadvarsel), Fund investment (fondsinvestering), Fund exit (fondsexit), Fund board seat (fondsbestyrelsespost).

Changes

Pro for this company

The rows marked Pro on this page hold values in the Pro plan. For TSV ApS, that is:

Credit and debt: Net interest-bearing debt, gearing, NIBD / EBITDA, interest coverage and adjusted equity ratio, for 2014 to 2018.Credit rating, capital loss and filing deadline and punctuality.
Returns and cash flow: EBITDA / gross profit, ROIC, capex % of sales and FCFF / EBITDA, for 2014 to 2018.
Advanced estimates: Auditor's report findings and revenue model.
Signals and monitoring: Signals on this company, as Dandex raises them.

See the Pro plan

Have Pro? Sign in to see the values on this page.

Registry facts

Signing rule (tegningsregel): Selskabet tegnes af en direktør.1 Jan 2015 to 25 Mar 2020
Purpose (formål): Selskabets formål er formueadministration.25 Apr 2016 to 12 May 2020
Audit opted out (revision fravalgt): Yes20 Nov 1995 to 12 May 2020
Articles of association last changed (seneste vedtægtsdato): 21 Mar 2016until 12 May 2020
Share classes (kapitalklasser): Yes20 Nov 1995 to 12 May 2020
Resumed after compulsory dissolution (genoptagelse efter tvangsopløsning): 23 Mar 2010until 12 May 2020

Share capital

Each registered value from the day it took effect, newest first.

30 Aug 2002DKK 705,000+125,000
3 Apr 1996DKK 580,000+380,000
5 Dec 1995DKK 200,000Earliest in CVR

Mergers and demergers

4 May 2017
Merger (fusion), as the continuing company (fortsættende selskab)
- TSV III ApSCVR 19167585, ceasing company, dissolved after merger
29 Jun 2010
Merger (fusion), as the continuing company (fortsættende selskab)
- ESTATE TRADING ApSCVR 31182050, ceasing company, dissolved after merger
- TSV II ApSCVR 31173345, ceasing company, dissolved after merger
14 Mar 2007
Merger (fusion), as the continuing company (fortsættende selskab)
- MSN ApSCVR 19639398, ceasing company, dissolved after merger
30 Aug 2002
Merger (fusion), as the continuing company (fortsættende selskab)
- MSN ApSCVR 21615773, ceasing company, dissolved after merger

From CVR, read 14 Nov 2026. Text such as the signing rule and purpose is shown as registered.

Registry facts

History (historik)

Name changes: 1 in all, none in the last 5 years; latest 4 Jul 2003
Address changes: 4 in all, none in the last 5 years; latest 21 Feb 2019
Status changes: 3 in all, none in the last 5 years; latest 12 May 2020
Auditor changes: 3 in all, none in the last 5 years; latest 23 Mar 2010

Names (navne)

4 Jul 2003 to 12 May 2020
TSV ApS
20 Nov 1995 to 3 Jul 2003
TSV FINANS ApS

Addresses (adresser)

21 Feb 2019 to 12 May 2020
Lyngby Hovedgade 39, 2. tv, 2800 Kongens Lyngby
20 Dec 2018 to 20 Feb 2019
Lyngby Hovedgade 29, 2800 Kongens Lyngby
26 Mar 2009 to 19 Dec 2018
Hesseløgade 1, 1. tv, 2100 København Ø
19 Jan 2005 to 25 Mar 2009
Howitzvej 16, 2. th, 2000 Frederiksberg
20 Nov 1995 to 18 Jan 2005
Betty Nansens Alle 29, 2000 Frederiksberg

Statuses (virksomhedsstatus)

12 May 2020 to 12 May 2020
Dissolved by declaration (opløst efter erklæring)
23 Mar 2010 to 11 May 2020
Active (normal)
15 Mar 2010 to 22 Mar 2010
Under compulsory dissolution (under tvangsopløsning)
20 Nov 1995 to 14 Mar 2010
Active (normal)

Audit firms (revision)

23 Mar 2010 to 6 May 2010
Statsautoriseret revisionsvirksomhed Revsbæk Revision
11 Nov 1997 to 15 Dec 2009
Statsautoriseret revisionsvirksomhed Revsbæk Revision
15 May 1997 to 26 Sep 1997
Rusbjerg Administration
20 Nov 1995 to 15 May 1997
JØRGEN FRIIS REVISION STATSAUTORISERET REVISOR

From CVR, read 14 Nov 2026. A change is counted each time the registry records a new value, so a corrected address or an audit firm under a new entity counts too.

History (historik)

Registrations (registreringer)

28 registrations, newest first. As published by Erhvervsstyrelsen, in Danish, with people's street addresses cut to postcode and city.

12 May 2020
Status change People change
Virksomheden er opløst ved erklæring efter selskabslovens § 216, jf. lov om erhvervsdrivende virksomheder § 20
Direktion:
Fratrådte:
Michael Schierning Nielsen, den 12.05.2020.
21 Feb 2019
Address change
Ny adresse: c/o Advokat Lars Borring, Lyngby Hovedgade 39, 2. tv, 2800 Kongens Lyngby
20 Dec 2018
Address change
Ny adresse: c/o Advokat Lars Borring, Lyngby Hovedgade 29, 2800 Kongens Lyngby
Ny kommune: Lyngby-Taarbæk
11 Jul 2017
Merger or demerger completed
Erhvervsstyrelsen har modtaget oplysning om, at der er truffet beslutning om nedenstående fusion.
Virksomheden er fusioneret med CVR-nummer: 19167585 TSV III ApS, der samtidigt er opløst.
21 Mar 2017
Merger or demerger announced
Erhvervsstyrelsen har modtaget fusionsplan for den påtænkte fusion mellem CVR-nummer: 18939940 TSV ApS (fortsættende), der tillige driver virksomhed under navnene TSV I ApS og CVR-nummer: 19167585 TSV III ApS (ophørende).
Kapitalejerne i CVR-nummer: 18939940 TSV ApS og CVR-nummer: 19167585 TSV III ApS har i enighed besluttet, at der ikke skal udarbejdes en erklæring om kreditorernes stilling i forbindelse med fusionen. Kreditorer, hvis fordringer er stiftet forud for bekendtgørelsen om fusionen, og for hvilke der ikke er stillet særskilt sikkerhed, kan anmelde deres fordringer senest 4 uger efter denne offentliggørelse.
25 Apr 2016
Other
Vedtægter ændret: 21.03.2016
Formål ændret: Selskabets formål er formueadministration.
16 Feb 2015
Other
Vedtægter ændret:
01.01.2015.
Nyt binavn: TSV I ApS.
Slettet binavn: MSN ApS.
27 Jul 2010
Status change
Selskabet er fusioneret med CVR-NR. 31173345 TSV II ApS, CVR-NR. 31182050 ESTATE TRADING ApS, der samtidig er opløst.
25 Jun 2010
Other
Erhvervs- og Selskabsstyrelsen har modtaget
fusionsplan for fusion mellem
CVR-NR. 18939940 TSV ApS (fortsættende). der tillige driver virksomhed under navnet MSN ApS (TSV ApS).
CVR-NR. 31173345 TSV II ApS (ophørende).
CVR-NR. 31182050 ESTATE TRADING ApS (ophørende). der tillige driver virksomhed under navnet ERONG ApS (ESTATE TRADING ApS).
17 Jun 2010
People change Other Audit change
Vedtægter ændret:
06.05.2010.
Bestyrelse:
Udtrådt af bestyrelsen:
Michael Schierning Nielsen, den 06.05.2010.
Selskabet tegnes af en direktør.
Show the full announcement
Revision:
Udtrådt af revisionen:
Revsbæk Revision, den 06.05.2010.

Show 18 more

7 Apr 2010
Audit change Status change
Vedtægter ændret:
23.03.2010.
Den under 15.03.2010 fremsendte anmodning til Sø- og Handelsretten Skifteretten om opløsning af selskabet, er tilbagetaget.
Revision:
Indtrådt i revisionen:
Revsbæk Revision, 4700 Næstved, den 23.03.2010.
15 Mar 2010
Status change
Binavn:
MSN ApS (TSV ApS) UNDER TVANGSOPLØSNING.
Anmodning om opløsning, jf. selskabslovens § 225 sendt til Sø- og Handelsretten Skifteretten den 15.03.2010.
4 Feb 2010
Other Audit change
Revision:
Udtrådt af revisionen:
Revsbæk Revision, den 15.12.2009.
12 Dec 2009
Other
Vedtægter ændret:
11.12.2009.
26 Mar 2009
Other
Vedtægter ændret:
26.03.2009.
Ny adresse:
c/o Michael S. Nielsen, Hesseløgade 1, 1. tv., 2100 København Ø.
Ny kommune:
København.
30 Mar 2007
Status change
Vedtægter ændret:
14.03.2007.
Nyt binavn: MSN ApS (TSV ApS).
Selskabet er fusioneret med CVR-NR. 19639398 MSN ApS, der samtidig er opløst.
26 Jun 2006
Other
Erhvervs- og Selskabsstyrelsen har modtaget
fusionsplan i henhold til anpartsselskabslovens § 65,
jf. aktieselskabslovens § 134 a for fusion mellem
CVR-NR. 19639398 MSN ApS.
CVR-NR. 18939940 TSV ApS.
Endvidere er modtaget erklæring fra
vurderingsmændene i henhold til anpartsselskabslovens §
65, jf. aktieselskabslovens § 134 c, stk 4.
19 Jan 2005
Address change Other
Vedtægter ændret:
19.01.2005.
Ny adresse:
c/o Troels Valeur, Howitzvej 16, 2. th., 2000 Frederiksberg.
Slettet binavn: MSN ApS (TSV ApS).
8 Jul 2004
People change Other
Bestyrelse:
Udtrådt af bestyrelsen:
Poula Bæk Nielsen, den 01.07.2004, Troels Schierning Valeur, den 01.07.2004.
5 Jul 2003
Other
Vedtægter ændret:
04.07.2003.
Nyt navn:
TSV ApS.
Binavn:
MSN ApS (TSV ApS).
21 Oct 2002
Other
Nyt binavn: MSN ApS (TSV FINANS ApS).
18 Oct 2002
Status change People change Capital change
Vedtægter ændret:
30.08.2002.
Kapitalforhøjelse:
kr. 125.000,00 indbetalt ved fusion, kurs 100,00,
Klasser:
b kr. 125.000,00.
Show the full announcement
Kapitalen udgør herefter kr. 705.000,00.
Kapitalen er opdelt i klasser:
a kr. 10.000,00, b kr. 695.000,00.
Bestyrelse:
Udtrådt af bestyrelsen:
Martin Lauge Bek-Nielsen, den 30.08.2002.
Indtrådt i bestyrelsen:
Troels Schierning Valeur, 5700 Svendborg, den 30.08.2002.
Selskabet fusioneret med CVR-NR. 21615773 MSN ApS, der samtidig er opløst.
26 Jun 2002
Status change
Erhvervs- og Selskabsstyrelsen har modtaget
fusionsplan i henhold til anpartsselskabslovens § 65,
jf. aktieselskabslovens § 134 a for fusion mellem
CVR-NR. 18939940 TSV FINANS ApS.
CVR-NR. 21615773 MSN ApS.
Endvidere er modtaget erklæring fra
vurderingsmændene i henhold til anpartsselskabslovens §
65, jf. aktieselskabslovens § 134 c, stk 4.
24 Nov 1997
Audit change
Revision:
Indtrådt i revisionen:
Revsbæk Revision, 4700 Næstved, den 11.11.1997.
11 Nov 1997
Audit change Other
Revision:
Udtrådt af revisionen:
Rusbjerg Revision.
10 Jul 1997
Other People change Audit change
Bestyrelse:
Udtrådt af bestyrelsen:
Carl Bek-Nielsen, den 15.05.1997.
Indtrådt i bestyrelsen:
Martin Lauge Bek-Nielsen, den 15.05.1997.
Revision:
Show the full announcement
Udtrådt af revisionen:
Jørgen Friis Revision, statsautoriseret revisor, den 15.05.1997.
Indtrådt i revisionen:
Rusbjerg Revision, 2640 Hedehusene, den 15.05.1997.
6 Jun 1996
People change Capital change Other
Vedtægter ændret:
15.03.1996.
Kapitalforhøjelse:
kr. 380.000,00 indbetalt ved konvertering af gæld, kurs 100,00,
Klasser:
b kr. 380.000,00.
Show the full announcement
Kapitalen udgør herefter kr. 580.000,00.
Kapitalen er opdelt i klasser:
a kr. 10.000,00, b kr. 570.000,00.
Bestyrelse:
Indtrådt i bestyrelsen:
Carl Bek-Nielsen, Poula Bæk Nielsen, Direktør Michael Schierning Nielsen.
Selskabet tegnes af den samlede bestyrelse eller af et medlem af bestyrelsen i forening med 1 direktør eller af 1 direktør alene.
3 Jan 1996
New company
Stiftelsesdato:
20.11.1995.
Seneste vedtægtsdato:
20.11.1995.
Kapital:
kr. 200.000,00.
Show the full announcement
Kapitalen er opdelt i klasser:
a kr. 10.000,00, b kr. 190.000,00.
Indbetalingsmåde:
i værdier kr. 200.000,00 til kurs 100,00.
Stifter:
Direktør Michael Schierning Nielsen.
Direktion:
Direktør Michael Schierning Nielsen.
Selskabet tegnes af den samlede direktion.
Revision:
Jørgen Friis Revision, statsautoriseret revisor, 2000 Frederiksberg.
Første regnskabsår:
20.11.1995 - 31.12.1996.
Regnskabsår:
01.01 - 31.12.

Registrations (registreringer)

Registration

Address: Lyngby Hovedgade 39
2800 Kongens Lyngby
Lyngby-Taarbæk Municipality
CVR record last changed: 2 Sep 2025
Data read: 14 Nov 2026

Production units

2 registered in CVR.

TSV FINANS ApS
P-number 100602715729, 9999 Ukendt
TSV ApS
P-number 1003808874Lyngby Hovedgade 39, 2800 Kongens Lyngby

Compiled by Dandex from the Danish Business Registry (CVR, datacvr.virk.dk), Erhvervsstyrelsen, and annual reports filed in XBRL. Values marked Dandex estimate are computed by Dandex from that data, not registered.

Ownership

People

Network

Headcount

Financials

Changes

Registry facts

History (historik)

Registrations (registreringer)

Registration

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Ownership

People

Financials

Who is behind it

Ownership

Owned companies

Dandex estimates

People

Current (0)

Founders (1)

Roles over time

Network

Headcount

Financials

Annual reports

Financials

Changes

Signals (signaler)

Changes

Pro for this company

Registry facts

Share capital

Mergers and demergers

Registry facts

History (historik)

Names (navne)

Addresses (adresser)

Statuses (virksomhedsstatus)

Audit firms (revision)

History (historik)

Registrations (registreringer)

Registrations (registreringer)

Registration

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Who is behind it

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Dandex estimates

Current (0)

Founders (1)

Roles over time

Financials

Annual reports

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Signals (signaler)

Pro for this company

Registry facts

Share capital

Mergers and demergers

History (historik)

Names (navne)

Addresses (adresser)

Statuses (virksomhedsstatus)

Audit firms (revision)

Registrations (registreringer)

Production units