H46 ApS

APSActiveAdvertising protection

CVR 53693911Nørreløkke 2C, 6200 AabenraaRental and operating of own or leased real estate· NACE 6820Est. 1975 · 51 years old— employees

Overview

H46 ApS is a Danish APS based in Aabenraa, operating in the Rental and operating of own or leased real estate sector. Incorporated in 1975, the company reported revenue of DKK 785.6k in its latest annual filing.

Revenue 2025

0.8M DKK

+5% vs 2024

EBITDA margin

41.6 %

−2% vs 2024

Net profit 2025

0M DKK

-13% vs 2024

Key ratios

See full ratios →

20.6 %

Weak

Among the 40% lowest rated companies in the industry

20212025

0.0×

Very weak

Among the 10% lowest rated companies in the industry

20212025

0.3 %

Weak

Among the 40% lowest rated companies in the industry

20212025

EBITDA — year on year

DKK thousands

Key figures

Annual report 2025

Revenue	0.8M DKK	+5%
EBITDA	0.3M DKK	-2%
Net profit	0M DKK	-13%
Total assets	7.7M DKK	+1%
Equity	1.6M DKK	+1%
Employees	—	—

Contact

Address

Nørreløkke 2C, 6200 Aabenraa

Phone

+45 5050 4961

fc@h46.dk

Advertising protection

Active — opted out of marketing use

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Financial development

In its most recent annual report (2025), H46 ApS reported revenue of DKK 785.6k, an increase of 5% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net profit of DKK 22.8k, and the EBITDA margin stood at 41.6%.

At the end of 2025, equity financed 20.6% of the balance sheet, and current assets covered short-term debt 0 times.

Financials

Revenue

DKK thousands

EBITDA

DKK thousands

Income statement

DKK thousands

Item	2025	2024	2023	2022	2021
Revenue	786	746	703	681	941
Staff expenses	-0	-0	-0	-0	-0
EBITDA	327	335	325	120	831
Depreciation & amort.	-0	-0	-0	-0	-0
EBIT	327	335	325	120	831
Net financials	-297	-295	-248	-252	-127
Profit before tax	29	39	77	-132	704
Tax	7	13	0	-0	117
Net profit	23	26	77	-132	582

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Balance sheet

DKK thousands

Item	2025	2024	2023	2022	2021
Total assets	7,689	7,593	7,565	6,697	6,317
Equity	1,581	1,558	1,532	1,455	1,636
Long-term debt	4,404	4,569	4,718	4,197	3,417
Short-term debt	1,704	1,466	1,316	1,045	1,265
Total debt	6,108	6,035	6,033	5,242	4,681

Financial ratios

5-year trend

EBITDA margin

41.6 %

20212025

Equity ratio

20.6 %

Weak

Among the 40% lowest rated companies in the industry

20212025

Return on equity

1.4 %

Weak

Among the 40% lowest rated companies in the industry

20212025

Net profit margin

2.9 %

Weak

Among the 30% lowest rated companies in the industry

20212025

Asset turnover

0.10×

Strong

Among the 30% highest rated companies in the industry

20212025

Debt / equity

3.86×

Weak

Among the 30% lowest rated companies in the industry

20212025

Sector performance

26 of 28 ratios graded

28 financial ratios from the latest filing, each graded against companies in the same industry.

Profitability

Gross marginWeak

Among the 30% lowest rated companies in the 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 marginAverage

Around the average of companies in the same 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 40% 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 40% 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 ratioNot rated

Cannot be graded — the figures this ratio builds on are not available in the latest filing.

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 ratioVery weak

Among the 10% 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 10% 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 strong

Among the 20% highest 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 strong

Among the 10% highest 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 equityWeak

Among the 30% 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 equityWeak

Among the 30% 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 coverageAverage

Around the average of companies in the same industry

The ability to pay the interest on the company's debt out of its earnings.

Interest rate on debtVery weak

Among the 20% lowest rated companies in the 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 turnoverStrong

Among the 30% highest rated companies in the industry

Revenue relative to total assets — the ability to generate revenue from the asset base.

Equity to contributed capitalAverage

Around the average of companies in the same industry

Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.

One-year change in equityWeak

Among the 40% lowest rated companies in the industry

The size of this year's increase or decrease in the company's equity.

One-year change in debtWeak

Among the 40% lowest rated companies in the industry

The size of this year's increase or decrease in the company's debt.

Inventory turnoverNot rated

Cannot be graded — the figures this ratio builds on are not available in the latest filing.

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.

Annual reports & filings

Annual report 2025
Filed via CVR / Virk · Period 2024-10-01 – 2025-09-30
View PDF
Annual report 2024
Filed via CVR / Virk · Period 2023-10-01 – 2024-09-30
View PDF
Annual report 2023
Filed via CVR / Virk · Period 2022-10-01 – 2023-09-30
View PDF
Annual report 2022
Filed via CVR / Virk · Period 2021-10-01 – 2022-09-30
View PDF
Annual report 2021
Filed via CVR / Virk · Period 2020-10-01 – 2021-09-30
View PDF

People & ownership

Management

Actively employed in the business

Name	Role	Member since
Current (1)
FC Finn Christensen Management	Management	2004

Former (4)


OH Ole Højer Markussen Management	Management	1975 – 1998
Rr Reg. revisor Ove Jacobsen Audit	Audit	1975 – 1989
KN Kristine Nissen Markussen Management	Management	1998 – 2004
LC Lorenz Christian Nissen Management	Management	1975 – 1989

Board of directors

Non-executive oversight

Name	Role	Member since

Former (2)


OH Ole Højer Markussen Board of Directors	Board of Directors	1975 – 1996
EP Erik Pedersen Board of Directors	Board of Directors	1975 – 1996

Shareholders

Active legal owners

Shareholder	Type	Ownership	Votes	Registered
Finn Christensen	Individual	100%	100%	2018

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

No registered parent or subsidiaries

Board network connections

Board members of H46 ApS also hold positions in 1 other company.

Person	Role here	Other companies
Finn Christensen	Management	1 company

Frequently asked questions

What is the CVR number of H46 ApS?

H46 ApS is registered with CVR / Virk under CVR 53693911.

What is the revenue of H46 ApS?

H46 ApS reported revenue of DKK 785.6k in 2025.

Where is H46 ApS headquartered?

H46 ApS's registered address is Nørreløkke 2C.