VB 21B, Odense ApS (CVR 39174936) Company Profile

Ownership

Sandal Ejendomme ApS
CVR 33031998100% of capital and votessince 14 Dec 2017

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

Control Chain

Ultimate controller
Michael Sandal
Holds 100% of capital and votes in M. SANDAL INVEST ApS, since 25 Jun 2012
Capital100%
Votes100%
Holding company
M. SANDAL INVEST ApS
CVR 34618046Private limited company (ApS)
Holds 20% to under 25% of capital and 100% of votes in SANDAL HOLDING ApS, since 25 Jun 2012
Capital20% to under 25%
Votes100%
Holding company
SANDAL HOLDING ApS
CVR 21109088Private limited company (ApS)
Holds 100% of capital and votes in Sandal Ejendomme ApS, since 31 May 2010
Capital100%
Votes100%
Holding company
Sandal Ejendomme ApS
CVR 33031998Private limited company (ApS)
Holds 100% of capital and votes in VB 21B, Odense ApS, since 14 Dec 2017
Capital100%
Votes100%
This company
VB 21B, Odense ApS
CVR 39174936

Each holds the one below it. Control follows votes: an owner with 50% or more controls. Each bar shows the registered band, solid to its lower bound and faint across the range CVR records, with a mark at 50%. Dandex estimate, computed 10 Nov 2026.

Dandex Estimates

Legal ownership resolution (Ejerforholdenes opløsning): Ends at a personThe chain of majority owners ends at a person, through 3 companies; legal owners in the CVR owner register only. Dandex estimate, rule v3, computed 10 Nov 2026.
Control tenure (Ejerskabsperiode): Pro: in the Pro plan, see pricingHow long the current ultimate controller has held control, from the CVR owner register.
Group position (Koncernforhold): Has a parent, and no majority holding in a Danish companyControlled by a company in CVR; it holds 50% or more of no Danish company. Dandex estimate, rule v2, computed 10 Nov 2026.
Holding company assets (Holdingselskabets aktiver): Pro: in the Pro plan, see pricingFor a holding company, the kind of asset that makes up half its balance sheet or more.
Signing authority, structured (Tegningsregel, struktureret): One person can bind the companyThe registered signing rule lets one person bind the company. Dandex estimate, rule v2, computed 10 Nov 2026.

Decided by Dandex with fixed rules from the CVR register and the filed annual reports, not registered by the company. Each label links to its definition.

People

Current (1)

Michael SandalExecutive board since 14 Dec 2017

Founders (1)

Sandal Ejendomme ApSFounded 14 Dec 2017, holds a current role

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

Network

Roles Over Time

Michael Sandal: Executive board, 14 Dec 2017 to today.

14 Dec 2017 to 10 Nov 2026.

Executive board (Direktion)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	2021	2022	2023	2024	2025
Gross profit	344	431	430	315	431
Operating profit	-555	+861	+738	+317	+2,695
Result for the year	-439	+674	+442	-17	+1,881
Equity	2,967	3,640	4,083	4,065	5,947
Total assets	13,226	13,933	14,409	14,456	16,910
Employees (average)	0	0	1	1	1
Credit metrics (Dandex calculations)
Gross profit growth (vækst i bruttofortjeneste)	38.3%	26.1%	-0.9%	-26.7%	36.4%
EBITDA / gross profit (EBITDA i procent af bruttofortjenesten)	Pro: in the Pro plan, see pricingEBITDA as a share of gross profit.
Employee growth (vækst i antal ansatte)	n.m.^{note 1}	n.m.^{note 1}	0%	0%	0%
Net interest-bearing debt (NIBD, nettorentebærende gæld)	Pro: in the Pro plan, see pricingInterest-bearing debt less cash and current securities; negative is net cash.
Gearing, NIBD / EBITDA	Pro: in the Pro plan, see pricingNet interest-bearing debt over EBITDA: the years of earnings the debt takes.
Interest coverage (rentedækning)	Pro: in the Pro plan, see pricingEBIT over finance expenses: how many times earnings cover the interest.
Adjusted equity ratio (justeret soliditetsgrad)	Pro: in the Pro plan, see pricingAdjusted equity as a share of total assets on the same basis.
ROIC (afkast af investeret kapital)	Pro: 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}	343^{note 3}	Not reported^{note 2}	Not reported^{note 2}	Not reported^{note 2}
Capex % of sales (investeringer i procent af omsætningen)	Pro: in the Pro plan, see pricingCapex as a share of revenue.
FCFF / EBITDA (pengestrømskonvertering)	Pro: in the Pro plan, see pricingFree cash flow to the firm as a share of EBITDA.

DKK thousands. Annual reports via XBRL. Employees are the annual report's average and may cover a group.

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. Revenue-based rows are empty: the company reports gross profit only (bruttofortjeneste), which class B filers may.

1 n.m.: the year before is not positive
2 no capex filed
3 additions per the fixed asset notes

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

Annual Reports

Annual report 2025
1 Jul 2024 to 30 Jun 2025, published 23 Dec 2025
XHTML
Annual report 2024
1 Jul 2023 to 30 Jun 2024, published 30 Dec 2024
PDF
Annual report 2023
1 Jul 2022 to 30 Jun 2023, published 19 Dec 2023
PDF
Annual report 2022
1 Jul 2021 to 30 Jun 2022, published 28 Nov 2022
PDF
Annual report 2021
1 Jul 2020 to 30 Jun 2021, published 2 Dec 2021
PDF

Financials

Changes

All changes

28 Aug 2026
Industry change
VB 21B, Odense ApS (CVR 39174936) har ændret branche fra "Gennemførelse af byggeprojekter" (681200) til "Anden udlejning af boliger" (682030) pr. 28. august 2026.
6 May 2026
Address change
VB 21B, Odense ApS (CVR 39174936) har ændret adresse fra "Edisonsvej 3 5000 Odense C" til "Edisonsvej 1 5000 Odense C" pr. 6. maj 2026.
14 Dec 2017
Ownership change
VB 21B, Odense ApS (CVR 39174936) har foretaget ejerskifte pr. 14. december 2017: 1 indtrådt.
14 Dec 2017
Director change
VB 21B, Odense ApS (CVR 39174936) har foretaget direktørskifte pr. 14. december 2017: 1 indtrådt.

Signals (signaler)

Pro: 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 VB 21B, Odense ApS, that is:

Credit and debt: Net interest-bearing debt, gearing, NIBD / EBITDA, interest coverage and adjusted equity ratio, for 2021 to 2025.Credit rating, capital loss and filing deadline and punctuality.
Returns and cash flow: EBITDA / gross profit, ROIC, capex % of sales and FCFF / EBITDA, for 2021 to 2025.
Advanced estimates: Control tenure and holding company assets.
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.since 14 Dec 2017
Purpose (Formål): Selskabets formål er køb og salg af fast ejendom, ejendomsudvikling samt udlejning af fast ejendom samt hermed beslægtet virksomhed.since 14 Dec 2017
Audit opted out (Revision fravalgt): Nosince 14 Dec 2017
Articles of association last changed (Seneste vedtægtsdato): 25 Jun 2018
Share classes (Kapitalklasser): Nosince 14 Dec 2017
Owners under 5% registered (Ejerregistrering under 5 procent): Nosince 14 Dec 2017
Anti-money-laundering act (Hvidvaskloven): Not covered (Ikke omfattet)since 26 Sep 2025

Share Capital

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

14 Dec 201750,000 DKKEarliest in CVR

From CVR, read 10 Nov 2026. Text such as the signing rule and purpose is shown as registered.

Registry Facts

Registrations (Registreringer)

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

22 Apr 2026
Address change
Ny adresse: c/o Sandal Ejendomme, Edisonsvej 1, 5000 Odense C
20 Aug 2020
Audit change
Revision:
Fratrådte:
DELOITTE STATSAUTORISERET REVISIONSPARTNERSELSKAB, den 18.08.2020.
Tiltrådte:
CVR-NR. 35257691 BAKER TILLY DENMARK GODKENDT REVISIONSPARTNERSELSKAB, Hjallesevej 126, 5230 Odense M, den 18.08.2020.
26 Jun 2018
Other
Vedtægter ændret: 25.06.2018
19 Dec 2017
New company
Stiftelsesdato: 14.12.2017.
Virkningsdato: 14.12.2017.
Seneste vedtægtsdato: 14.12.2017.
Kapital:
kr. 50.000,00.
Kapitalklasser: Nej
Show the full announcement
Indbetalingsmåde: Indbetalt kontant kr. 50.000,00 til kurs 110,00, fuldt indbetalt.
Stifter:
CVR-NR. 33031998 Sandal Ejendomme ApS, Edisonsvej 3, 5000 Odense C, den 14.12.2017.
Direktion:
Michael Sandal, den 14.12.2017.
Selskabet tegnes af en direktør..
Revision:
CVR-NR. 33963556 DELOITTE STATSAUTORISERET REVISIONSPARTNERSELSKAB, Tværkajen 5, 5000 Odense C, den 14.12.2017.
Første regnskabsår:
14.12.2017 - 30.06.2018.
Regnskabsår:
01.07 - 30.06.
Formål:
Selskabets formål er køb og salg af fast ejendom, ejendomsudvikling samt udlejning af fast ejendom samt hermed beslægtet virksomhed.

Registrations (Registreringer)

Registration

Address: Edisonsvej 1
5000 Odense C
Odense Municipality
CVR record last changed: 12 Oct 2026
Data read: 10 Nov 2026

Production Units

1 registered in CVR.

VB 21B, Odense ApS
P-number 1023156314Edisonsvej 1, 5000 Odense C

Compiled by Dandex from the Central Business Register (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

Registrations (Registreringer)

Registration

Dandex in Your Own Tools

Ownership

People

Financials

Who Is Behind It

Ownership

Control Chain

Dandex Estimates

People

Current (1)

Founders (1)

Network

Roles Over Time

Network

Headcount

Financials

Annual Reports

Financials

Changes

Signals (signaler)

Changes

Pro for This Company

Registry Facts

Share Capital

Registry Facts

Registrations (Registreringer)

Registrations (Registreringer)

Registration

Production Units

Dandex in Your Own Tools

Who Is Behind It

Control Chain

Dandex Estimates

Current (1)

Founders (1)

Network

Owners and the control chain

Its people and their other companies

Network

Roles Over Time

Financials

Annual Reports

Changes

Signals (signaler)

Pro for This Company

Registry Facts

Share Capital

Registrations (Registreringer)

Production Units

Network

Owners and the control chain

Its people and their other companies