Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
GB Holdings
On this page
Company details
- Legal name
- GB Holdings Limited
- Listing
- GBH.ZW on the Zimbabwe Stock Exchange, active · ISIN ZW0009012049 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · annual report, final status not established · source
Read with these figures
- Going-concern warning. The auditor's report for the year ended 31 December 2025 states a material uncertainty about whether the company can continue as a going concern.
- Annual report not confirmed as final. The published copy is unsigned and undated. The going-concern warning comes from it. The FY2025 figures come from it.
Full wording and sources
Auditor's report, year to 2025-12-31: material uncertainty related to going concern
Material uncertainty relating to going concern: We draw attention to note 27 to the financial statements which indicates that the Company's current liabilities exceeded its current assets by USD 145 533. This indicates that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. (PDF p14)
Source: GB Holdings Ltd Annual Report, year ended 31 December 2025, p14 (dated 2026-04-30)
Annual report for 2025: final status not established
Independent auditor's report (Grant Thornton, PDF pp14-16): unmodified opinion with a material uncertainty relating to going concern. The report closes with the typeset name 'Trevor Mungwazi, Partner, Registered Public Auditor (PAAB No: 0622), Grant Thornton' and no signature, and its date line prints only '2026' (day and month blank) (PDF p16, page image). The board approval (30 April 2026) carries handwritten signatures of the Chairman (T. Mabeza) and Managing Director (J. Gunda) (PDF p13, page image), as does the statement of financial position (PDF p17). A signed and dated auditor's report would settle the final status.
Source: GB Holdings Ltd Annual Report, year ended 31 December 2025 (dated 2026-04-30)
-
Revenue
USD 4.28 million
4,284,841 USD units · p18
+43.3% vs 2024
-
Operating profit / (loss)
USD 83,560
83,560 USD units · p18
−92.0% vs 2024
-
Profit / (loss) for the year
USD 38,950
38,950 USD units · p18
−96.2% vs 2024
-
Total assets
USD 5.64 million
5,643,582 USD units · p17
+8.0% vs 2024
-
Total equity
USD 2.81 million
2,805,598 USD units · p17
−4.2% vs 2024
-
Cash from operations
USD 264,883
264,883 USD units · p20
−80.7% vs 2024
Large amounts are rounded for reading (USD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in USD units unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — annual report, final status not established; reported for the year · source
- FY2024 — annual report, final status not established; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Revenue | 4,284,841 | 2,989,747 |
| Cost of sales | (2,528,901) | (1,595,428) |
| Gross prot | 1,755,940 | 1,394,319 |
| Other (loss) / income | (24,886) | 1,444,112 |
| Operating expenses | (1,647,494) | (1,793,930) |
| Prot from operations | 83,560 | 1,044,501 |
| Prot before tax | 83,560 | 1,044,501 |
| Income tax expense | (44,610) | (14,993) |
| Prot for the year | 38,950 | 1,029,508 |
| Other comprehensive income; net of tax | –1 | –1 |
| Total comprehensive income for the year | 38,950 | 1,029,508 |
- Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Property, plant and equipment | 3,898,890 | 4,198,093 |
| Inventories | 429,814 | 185,739 |
| Trade and other receivables | 1,024,588 | 816,702 |
| Cash and cash equivalents | 290,290 | 25,669 |
| Current assets (subtotal) | 1,744,692 | 1,028,110 |
| Total assets | 5,643,582 | 5,226,203 |
| Share capital | 95,541 | 95,541 |
| Share options reserve1 | 3,419 | 3,419 |
| Non distributable reserve | (1,787,098) | (1,787,098) |
| Revaluation reserve | 2,121,976 | 2,392,342 |
| Retained earnings | 2,371,760 | 2,224,664 |
| Capital and reserves (subtotal) | 2,805,598 | 2,928,868 |
| Deferred tax | 947,759 | 963,512 |
| Trade and other payables | 1,712,854 | 1,216,815 |
| Corporate tax payable | 177,371 | 117,008 |
| Current liabilities (subtotal) | 1,890,225 | 1,333,823 |
| Total liabilities | 2,837,984 | 2,297,335 |
| Total equity and liabilities | 5,643,582 | 5,226,203 |
Notes and alternative reported figures (1)
- “Share options reserve” is an issuer-specific line, not mapped to a shared definition: Note 10: equity-settled share option scheme.
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Prot / (loss) before tax1 | 83,560 | 1,044,501 |
| Depreciation charge for the year2 | 139,786 | 301,993 |
| Prot on disposal of assets3 | (2,541) | (6,883) |
| Operating cash inows before working capital changes4 | 220,805 | 1,339,611 |
| (Increase) / decrease in inventories5 | (244,075) | 576,795 |
| (Increase) / decrease in trade and other receivables6 | (207,886) | 212,813 |
| Increase / (decrease) in trade and other payables7 | 496,039 | (756,504) |
| Cash generated from operating activities | 264,883 | 1,372,715 |
| Net cash generated from operating activities | 264,883 | 1,372,715 |
| Proceeds from disposal of vehicles | 13,960 | 6,913 |
| Purchase of equipment | (14,222) | (16,726) |
| Net cash utilised in investing activities | (262) | (9,813) |
| NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS | 264,621 | 1,362,902 |
| Effects of foreign currency translation | –8 | (1,428,101) |
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR | 25,669 | 90,868 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR | 290,290 | 25,669 |
- Printed “-”; reading unresolved, so no amount is shown. 2025 cell prints a dash (page image p20); the closing-cash identity (opening 25 669 plus net change 264 621 gives 290 290) holds without it.
Notes and alternative reported figures (7)
- “Prot / (loss) before tax” is an issuer-specific line, not mapped to a shared definition: Opening line of the indirect-method operating section.
- “Depreciation charge for the year” is an issuer-specific line, not mapped to a shared definition: Note 5; adjustment.
- “Prot on disposal of assets” is an issuer-specific line, not mapped to a shared definition: Adjustment.
- “Operating cash inows before working capital changes” is an issuer-specific line, not mapped to a shared definition: Subtotal before working-capital changes.
- “(Increase) / decrease in inventories” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
- “(Increase) / decrease in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
- “Increase / (decrease) in trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
No dividend statement or amount collected.
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
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GB Holdings Ltd Annual Report, year ended 31 December 2025
Year ended 31 December 2025 · Annual report · final status not established
Audit: Grant Thornton Chartered Accountants (Zimbabwe), unmodified opinion · includes a material-uncertainty paragraph
Auditor's sign-off: Trevor Mungwazi, Partner, Registered Public Auditor (PAAB No: 0622), Grant Thornton
Final status: Independent auditor's report (Grant Thornton, PDF pp14-16): unmodified opinion with a material uncertainty relating to going concern. The report closes with the typeset name 'Trevor Mungwazi, Partner, Registered Public Auditor (PAAB No: 0622), Grant Thornton' and no signature, and its date line prints only '2026' (day and month blank) (PDF p16, page image). The board approval (30 April 2026) carries handwritten signatures of the Chairman (T. Mabeza) and Managing Director (J. Gunda) (PDF p13, page image), as does the statement of financial position (PDF p17). A signed and dated auditor's report would settle the final status.
- Document date
- 30 Apr 2026
- Published
- 6 Jul 2026
- Auditor's report
- date left blank in this document
- Board approval
- 30 Apr 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- company statements · USD units (printed “USD (column headings)”)
- Material uncertainty relating to going concern (auditor's report PDF p14; note 27): current liabilities exceed current assets by USD 145 533. Opinion not modified.
- Change of functional and presentation currency from ZWG to USD effective 1 January 2025, applied prospectively; 2024 comparatives (inflation-adjusted ZWG) translated at USD1:ZWG25.7985 (note 2.1.1). The chairman's statement calls the comparatives 'restated'; the statements do not mark them so.
- Earnings, diluted and headline earnings per share are printed as '(cents) 0.0001' (2024: 0.002). Profit of 38 950 over 536 588 624 shares is about USD 0.00007 (0.007 US cents), and 2024's 1 029 508 gives about USD 0.0019; the printed figures match US dollars rather than cents, so they are not transcribed.
- The text layer stores the 'fi'/'fl' ligatures as private-use glyphs (U+F001, U+F002) inside 'Profit' and 'inflows'; the page images read 'Profit', 'inflows'. Labels are kept as the text layer prints them.
Technical details
- File
- 40 pages, with a text layer
- SHA-256
3c2c67c861c89fdf6eb1394d85cedd654137666e9f2132fa51844af51d1d3515- Entity as printed
- GB Holdings Limited (the Company)
- Exchange copy
- retrieved 2026-10-08T18:05:59Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.