What they do
A share-investment box
Stated purpose: invest in companies and property, buy and sell shares. The accounts confirm share investments on the balance sheet — but not which ones. Unknown
Simple version
Explain it like I’m ten
Same company, fewer jargon words — numbers from the 2025 accounts. [R2025]
How much they sold
Zero sales
No operating revenue in any year 2022–2025. [R2025]
Shares on the books
About 16.5k kr
Book value of investments in shares/andeler: NOK 16,500 (flat vs 2024; was 30k in 2023). [C02]
Cash left
About 14k kr
Cash NOK 13,699; equity NOK 19,843 after four years of small losses. [R2025]
At a glance · 2025
Key figures
Revenue / sales
0
NOK · [R2025]
Net result
-6 250
NOK · [R2025]
Equity
19 843
NOK · [R2025]
Cash
13 699
NOK · [R2025]
Total assets
30 199
NOK · [R2025]
Investments (book)
16 500
NOK · [R2025]
Trends
Four-year arc
Charts use figures extracted from published annual reports (2022–2025).
Sales / revenue
Equity & cash
Cost / investment lines
Salary costs (lønnskostnader)
FTEs (årsverk)
From notes when disclosed; blank years mean not found in OCR.
Watch list
Three things to notice
Share book value moved — targets unnamed
10k → 30k → 16.5k → 16.5k. Filings show the change, not the counterparty.
No commercial revenue
Four years of zero sales — pure cost/holding profile.
Equity slowly shrinking
From NOK 39k (2022) to NOK 20k (2025) on ~NOK 6k annual opex.
Analyst briefing
Company read — signals, board & numbers
Auto-written from filings, Brreg kunngjøringer, board timeline, address history, and the signal board. Interpretive — not investment advice.
Year by year
Comparing consecutive annual reports
Each filing pair has a dedicated, crawlable article page (main SEO surface). Below is a preview of the latest comparison — open the hub for every year.
Executive summary
Micro holding with an opaque share portfolio
20 DEGREES HOLDING AS was incorporated on 13 January 2022 [R2022]. Vedtektsfestet formål explicitly covers investing and buying/selling shares. Latest accounts — Årsregnskap 2025, approved 11 July 2026 (journal 2026 674798) — show zero revenue, net loss NOK 6,250, equity NOK 19,843, cash NOK 13,699, and share investments NOK 16,500 [R2025]. The company is marked not a parent in a group. Nothing in the annual reports names Perlo, Abreu Holding, or any other investee — so “who bought what from whom” cannot be read from these filings Unknown from filings.
What improved
Cash rebuilt from the 2023 low
- Liquidity ↑
Cash from NOK 2.7k to 13.7k
After the 2023 trough (NOK 2,742), cash recovered to NOK 13,699 by 2025 [C03] — concurrent with the share book value falling from 30k to 16.5k (possible disposal funding cash, but not proven in notes).
- Filing ↑
All four years on time vs fee deadline
Registry dates sit on or before 31 July each year. 2025 was approved 11 days after the 30 June cutoff but registered 13 July [R2025 · registry].
What deteriorated
Portfolio opaque; equity eroding
- Solvency ↓
Equity −49.7% since 2022
Equity fell from NOK 39,418 to NOK 19,843 [C01].
- Holdings
Share investments cut in 2024
Book value dropped from NOK 30,000 (2023) to NOK 16,500 (2024–25). No note names the shares sold or the buyer Unknown.
- Liquidity
Short-term debt appears in 2025
ST debt NOK 6,250 appears (was 0). Current ratio ~2.2 [C04].
Open questions
What the latest report leaves unanswered
Which shares does 20 Degrees hold?
Only a total book value is disclosed. No org.nr, name, or %. Filings cannot confirm ownership of Perlo (928 669 149) or any link to Abreu Holding (928 356 515).
Who are the shareholders of 20 Degrees?
Not in the årsregnskap. Brreg roles show Johan Bronkhorst as CEO/chair — that is management, not a share register.
Ratios
Ratios from the 2025 accounts
Curated set calculated from published figures. Select one year for a snapshot, or multiple years to graph each metric.
Source citations
Every material claim traces here
R = annual reportC = calculation
- [R2022]Årsregnskap 2022 · share investments 10k; cash 29.4k; equity 39.4k; net −13; journal 2023 549381
- [R2023]Årsregnskap 2023 · share investments 30k; cash 2.7k; equity 32.7k; net −6.7k
- [R2024]Årsregnskap 2024 · share investments 16.5k; cash 9.6k; equity 26.1k; net −6.6k
- [R2025]Årsregnskap 2025 · share investments 16.5k; cash 13.7k; equity 19.8k; ST debt 6.3k; net −6.3k; journal 2026 674798
- [C01]Equity: 39,418 (2022) → 19,843 (2025) = −49.7%
- [C02]Share investments: 10k → 30k → 16.5k → 16.5k
- [C03]Cash: 29,417 → 2,742 → 9,593 → 13,699
- [C04]Current ratio 2025: 13,699 / 6,250 = 2.19
- [C05]Equity ratio 2025: 19,843 / 30,199 = 65.7%
Original annual reports
Source documents
Published annual accounts from Brønnøysundregistrene (org.nr 928 644 278). Registry date = Brønnøysund kopi header. On-time status uses the fee deadline (§ 8-3): send before 1 August — shown as 31 July. Approval cutoff remains 30 June.
Årsregnskap 2025Approved 11.07.202611 days after 30.06 approval cutoffFee deadline 31.07.2026Registry 13.07.2026On time vs fee deadline
Årsregnskap 2024Approved 29.06.2025Fee deadline 31.07.2025Registry 01.07.2025On time vs fee deadline
Årsregnskap 2023Approved 23.05.2024Fee deadline 31.07.2024Registry 27.05.2024On time vs fee deadline
Årsregnskap 2022Approved 28.06.2023Fee deadline 31.07.2023Registry 03.07.2023On time vs fee deadline
Signals
Hard · medium · soft
Derived from published accounts, Brreg roles, and kunngjøringer. Soft signals are interpretive — not facts or buying proof.
Ownership
Owners, officers & filing notes
Aksjonærregisteret trees when available; otherwise Brreg officers (name + birth date) and any «Aksjeeiere» note from the annual accounts. Soft signals and YoY diffs are from the local register extract — not investment advice.
Buyer profile
What they may buy next
Sales-oriented read of industry, stage, filings, and registry signals — what this company is likely to purchase or hire over the next year. Interpretive, not a stated budget.
Registered address
Where the company sat over time
From Brreg «Endring av forretningsadresse» filings. Hubs and c/o addresses are tagged so you can see the path from incubator to own office.
Board & management
Who joined and left
Diffed from Styre / Daglig leder kunngjøringer (full public history).
Løsøreregisteret
Heftelser & rettsstiftelser
Active pant / utlegg and other registrations from Brreg’s public rettsstiftelser oppslag (not a full credit report).
Kunngjøringer