TBS Maskinpower ApS
APSActiveCVR 39006979Smedebakken 7, 7200 GrindstedWholesale of agricultural machinery, equipment and supplies· NACE 4661Est. 2017 · 9 years old187 employees
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Overview
TBS Maskinpower ApS is a Danish APS based in Grindsted, operating in the Wholesale of agricultural machinery, equipment and supplies sector. Incorporated in 2017, the company has 187 employees and reported revenue of DKK 956.2m in its latest annual filing.
Revenue 2025
956.2M DKK
+16% vs 2024
EBITDA margin
2.1 %
+102% vs 2024
Net profit 2025
-3.7M DKK
+66% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
20.3 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
1.1×
WeakAmong the 40% lowest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
-0.6 %
WeakAmong the 40% lowest rated companies in the industry
20212025
EBITDA — year on year
DKK millionsKey figures
Annual report 2025| Revenue | 956.2M DKK | +16% |
| EBITDA | 20.1M DKK | +102% |
| Net profit | -3.7M DKK | +66% |
| Total assets | 585.6M DKK | -5% |
| Equity | 119M DKK | +4266% |
| Employees | 187 | — |
Company information
Legal name
TBS Maskinpower ApS
CVR number
39006979
Legal form
Anpartsselskab
NACE code
Founded
12 October 2017 · 9 years
Share capital
DKK 7,055,000
Employees
187 (FTE)
VAT registered
Yes
Audit selected
Yes
Last report
2025-12-31
Financial year
January – December
Signatory rights
Selskabet tegnes af to direktører eller af den samlede direktion.
Company purpose
Selskabets formål er at drive handel og anden hermed beslægtet virksomhed.
(no translation available)
Address
Smedebakken 7, 7200 Grindsted
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Financial development
In its most recent annual report (2025), TBS Maskinpower ApS reported revenue of DKK 956.2m, an increase of 16% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net loss of DKK 3.7m, and the EBITDA margin stood at 2.1%.
At the end of 2025, equity financed 20.3% of the balance sheet, and current assets covered short-term debt 1.1 times.
Financials
Revenue
DKK millionsEBITDA
DKK millionsIncome statement
DKK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 956,213 | 825,953 | 636,780 | 669,938 | 481,238 |
| Staff expenses | -99,625 | -98,611 | -61,543 | -57,549 | -50,637 |
| EBITDA | 20,123 | 9,977 | 11,348 | 9,375 | 4,888 |
| Depreciation & amort. | -12,636 | -8,643 | -5,468 | -4,649 | -2,787 |
| EBIT | 7,487 | 1,334 | 5,880 | 4,726 | 2,101 |
| Net financials | -12,523 | -14,138 | -4,517 | -1,981 | -1,000 |
| Profit before tax | -5,036 | -12,804 | 1,363 | 2,745 | 1,101 |
| Tax | -1,337 | -2,004 | 54 | 419 | 117 |
| Net profit | -3,699 | -10,800 | 1,309 | 2,326 | 985 |
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Balance sheet
DKK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 585,604 | 613,426 | 495,916 | 405,441 | 415,807 |
| Equity | 119,028 | 2,726 | 16,524 | 16,145 | 13,820 |
| Long-term debt | 32,943 | 32,664 | 9,356 | 10,154 | 12,862 |
| Short-term debt | 433,633 | 578,036 | 468,999 | 377,879 | 388,164 |
| Total debt | 466,576 | 610,700 | 478,355 | 388,033 | 401,027 |
Financial ratios
5-year trendEBITDA margin
2.1 %
20212025
Equity ratio
20.3 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Return on equity
-3.1 %
WeakAmong the 30% lowest rated companies in the industry
20212025
Net profit margin
-0.4 %
WeakAmong the 30% lowest rated companies in the industry
20212025
Asset turnover
1.63×
AverageAround the average of companies in the same industry
20212025
Debt / equity
3.92×
Very weakAmong the 20% lowest rated companies in the industry
20212025
Sector performance
28 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginAverage
Around the average of companies in the same industry
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginWeak
Among the 40% lowest rated companies in the industry
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginWeak
Among the 30% lowest rated companies in the industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Weak
Among the 30% lowest rated companies in the industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Weak
Among the 40% lowest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Weak
Among the 30% lowest rated companies in the industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Average
Around the average of companies in the same industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioWeak
Among the 40% lowest rated companies in the industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Liquidity
Current ratioWeak
Among the 40% lowest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioVery weak
Among the 20% lowest rated companies in the industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioVery weak
Among the 20% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityVery weak
Among the 20% lowest rated companies in the industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalWeak
Among the 30% lowest rated companies in the industry
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Cash conversion ratioVery weak
Among the 10% lowest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioWeak
Among the 40% lowest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioWeak
Among the 40% lowest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityVery weak
Among the 20% lowest rated companies in the industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityVery weak
Among the 20% lowest rated companies in the industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtWeak
Among the 40% lowest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtAverage
Around the average of companies in the same industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageWeak
Among the 40% lowest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtAverage
Around the average of companies in the same industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginWeak
Among the 40% lowest rated companies in the industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Efficiency & development
Asset turnoverAverage
Around the average of companies in the same industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverVery strong
Among the 20% highest rated companies in the industry
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Equity to contributed capitalStrong
Among the 30% highest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityVery strong
Among the 10% highest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtVery strong
Among the 20% highest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Annual reports & filings
- Annual report 2025Filed via CVR / Virk · Period 2025-01-01 – 2025-12-31
- Annual report 2024Filed via CVR / Virk · Period 2024-01-01 – 2024-12-31
- Annual report 2023Filed via CVR / Virk · Period 2023-01-01 – 2023-12-31
- Annual report 2022Filed via CVR / Virk · Period 2022-01-01 – 2022-12-31
- Annual report 2021Filed via CVR / Virk · Period 2021-01-01 – 2021-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
JB Management | Management | 2017 |
AA Management | Management | 2026 |
MF Management | Management | 2026 |
CB Founder | Founder | 2017 |
Former (2)
JG Chief Executive Officer | Chief Executive Officer | 2026 – 2026 |
MR Management | Management | 2018 – 2021 |
Board of directors
Non-executive oversightNo data on file.
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
Raiffeisen Technik GmbH | Company | 66.67–89.99% | 66.67–89.99% | 2025 |
| Company | 20–24.99% | 20–24.99% | 2017 | |
| Company | 66.67–89.99% | 66.67% | 2017 | |
Raiffeisen Waren GmbH | Company | 66.67–89.99% | 66.67–89.99% | 2017 |
Beneficial ownership (UBO) data access is restricted in Denmark as of September 2025 per the EU 6th AML Directive. Learn more.
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Related companies
Company hierarchy
TBS Maskinpower ApS (this company)
Agrotek A/S66.67% ownedBoard network connections
Board members of TBS Maskinpower ApS also hold positions in 15 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Christian Bredtoft Guldmann | Founder | 9 companiesMany roles |
| Jens Bertram Gaarsvig Hansen | Management | 2 companies |
| Jan Garder | Chief Executive Officer | 2 companies |
| Aksel Antonsen | Management | 1 company |
| Martin Falk Geiser | Management | 1 company |
Frequently asked questions
What is the CVR number of TBS Maskinpower ApS?
TBS Maskinpower ApS is registered with CVR / Virk under CVR 39006979.
What is the revenue of TBS Maskinpower ApS?
TBS Maskinpower ApS reported revenue of DKK 956.2m in 2025.
How many employees does TBS Maskinpower ApS have?
TBS Maskinpower ApS employs 187 people as of the latest annual report.
Where is TBS Maskinpower ApS headquartered?
TBS Maskinpower ApS's registered address is Smedebakken 7.