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NIC Holdings

NIC · Uganda Securities Exchange · Incorporated in Uganda · Consolidated statements

On this page
Company details
Legal name
NIC Holdings Limited
Incorporated in
Uganda
Listing
NIC on the Uganda Securities Exchange, active · ISIN UG0000000758 (observed 2026-10-06)
Sector
Insurance (our classification from the stated principal activity)
Activity
Holding company whose subsidiaries, NIC General Insurance and NIC Life Assurance, provide general and life insurance in Uganda.
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, signed / final · source

  • Insurance revenue (IFRS 17)

    UGX 33.6 billion

    33,630,781 UGX thousands · p20

    +0.7% vs 2024

    IFRS 17 insurance revenue, as printed: not gross written premiums.

  • Insurance service result

    −UGX 614 million

    (614,296) UGX thousands · p20

    Change not shown.

  • Profit / (loss) for the year

    −UGX 1.52 billion

    (1,521,084) UGX thousands · p20

    Moved from profit to loss (FY2024: 477,204 UGX thousands)

  • Total assets

    UGX 81.3 billion

    81,284,404 UGX thousands · p19

    −11.1% vs 2024

  • Insurance contract liabilities

    UGX 9.34 billion

    9,338,495 UGX thousands · p19

    +37.2% vs 2024

  • Total equity

    UGX 40.5 billion

    40,460,202 UGX thousands · p19

    −3.0% vs 2024

Large amounts are rounded for reading (UGX million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in UGX thousands 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 — audited financial statements, signed / final; reported for the year · source
  • FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source
  • FY2023 — annual report, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, UGX thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Insurance revenue 33,630,781 33,404,643 29,983,893
Insurance service expenses (27,564,978) (24,754,375) (26,600,118)
Insurance service result before reinsurance contracts held (unlabelled subtotal)12 6,065,803 8,650,268 3,383,775
Expenses from reinsurance contracts held3 (9,038,713) (12,729,544) (11,526,152)
Income from reinsurance contracts held4 2,358,614 2,673,129 3,390,923
Net expense from reinsurance contracts held (6,680,099) (10,056,415) (8,135,229)
Insurance service result (614,296) (1,406,147) (4,751,454)
Investment income5 2,299,568 2,746,419 2,866,903
Interest income calculated using the Effective Interest method 1,591,135 1,243,770 2,074,197
Expected credit loss (ECL) provision (377,267) 1,015,716 (399,810)
Fair value loss through profit or loss6 (513,632) (601,335) (629,856)
Fair value (losses)/gains on investment properties78 (2,403,877) 5,001 682,134
Investment return 595,927 4,409,571 4,593,568
Insurance finance expense (362,918) (549,848) (502,210)
Reinsurance finance income9 (80,822) 105,718 56,513
Net finance result (443,740) (444,130) (445,697)
Net investment and finance result10 152,187 3,965,441 4,147,871
Other income 501,160 342,496 995,209
Finance costs11 (662,929) (713,075) (1,472,589)
Foreign exchange gain/(loss) 27,309 1,621 7,424
Other expenses- non-attributable12 (1,423,145) (1,243,144) (1,273,313)
Net investment and finance result and net other income/(other expenses) (unlabelled subtotal)1314 (1,405,418) 2,353,339 2,404,602
(Loss)/profit before taxation15 (2,019,714) 947,192 (2,346,852)
Taxation credit/(charge)16 498,630 (469,988) (32,105)
(Loss)/profit after taxation17 (1,521,084) 477,204 (2,378,957)
Other comprehensive income/(loss) net of tax18 278,875 (158,957) 351,044
Total comprehensive (loss)/profit for the year19 (1,242,209) 318,247 (2,027,913)
Notes and alternative reported figures (19)
  1. “Insurance service result before reinsurance contracts held (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Insurance revenue less insurance service expenses; printed without a label next to the figures.
  2. Printed under different labels across filings: “Insurance service result before reinsurance contracts held (unlabelled subtotal)”; “Insurance service results before reinsurance contracts held”.
  3. “Expenses from reinsurance contracts held” is an issuer-specific line, not mapped to a shared definition: Note 9(d).
  4. “Income from reinsurance contracts held” is an issuer-specific line, not mapped to a shared definition: Note 9(d).
  5. “Investment income” is an issuer-specific line, not mapped to a shared definition: Note 10(a).
  6. Printed under different labels across filings: “Fair value (loss)/gain through profit or loss”; “Fair value loss through profit or loss”.
  7. “Fair value (losses)/gains on investment properties” is an issuer-specific line, not mapped to a shared definition: Note 21.
  8. Printed under different labels across filings: “Fair value (losses)/gains on investment properties”; “Fair value gain/(loss) on investment properties”.
  9. “Reinsurance finance income” is an issuer-specific line, not mapped to a shared definition: Note 9(e): finance income or expense from reinsurance contracts held, as printed. Kept as the issuer's line: the 2025 amount is printed as a deduction under an 'income' caption (see the document notes).
  10. “Net investment and finance result” is an issuer-specific line, not mapped to a shared definition: Investment return plus net insurance finance result.
  11. Printed under different labels across filings: “Finance cost”; “Finance costs”.
  12. “Other expenses- non-attributable” is an issuer-specific line, not mapped to a shared definition: Note 12(b).
  13. “Net investment and finance result and net other income/(other expenses) (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Printed without a label beside the figures; the caption is printed separately at the foot of the page.
  14. Printed under different labels across filings: “Net investment and finance result and net other income / (other expenses)”; “Net investment and finance result and net other income/(other expenses) (unlabelled subtotal)”.
  15. Printed under different labels across filings: “(Loss)/profit before taxation”; “Profit/(loss) before taxation”.
  16. Printed under different labels across filings: “Taxation (charge)/credit”; “Taxation credit/(charge)”.
  17. Printed under different labels across filings: “(Loss)/profit after taxation”; “Profit/(loss) after taxation”.
  18. Printed under different labels across filings: “Other comprehensive (loss)/income net of tax”; “Other comprehensive income/(loss) net of tax”.
  19. Printed under different labels across filings: “Total comprehensive (loss)/profit for the year”; “Total comprehensive profit/(loss) for the year”.

Balance sheet

Balance sheet, UGX thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Cash and cash equivalents balances 2,391,246 1,055,893 2,468,364
Other receivables and prepayments1 6,166,918 2,248,283 2,508,725
Income tax recoverable –2 –2 Not reported in this filing3
Reinsurance contract assets4 1,468,752 –2 843,886
-At fair value through profit or loss5 1,456,864 1,970,496 2,571,831
-At fair value through other comprehensive income 4,277,107 4,138,470 6,259,772
-At amortized cost 8,621,623 12,405,042 11,505,384
Statutory deposits at amortised cost6 1,360,686 1,199,857 1,207,865
Investment in subsidiaries7 –2 –2 –2
Investment properties 42,380,800 55,740,100 55,735,099
Property and equipment and right of use asset89 12,859,367 12,678,668 13,403,939
Intangible assets10 301,041 –2 62,028
TOTAL ASSETS 81,284,404 91,436,809 96,566,893
Other payables and accruals and lease liabilities11 18,005,710 22,471,116 21,310,951
Income tax payable 4,598,886 4,903,429 4,640,340
Dividend payable 1,336,017 1,344,025 1,349,104
Insurance contract liabilities 9,338,495 6,804,038 15,055,835
Reinsurance contract liabilities –12 1,235,590 402,240
Investment contract liabilities 4,289,110 4,654,708 4,768,589
Loans and borrowing 2,106,387 6,254,053 5,539,560
Related party loan13 –12 –12 Not reported in this filing14
Deferred tax liabilities 1,149,597 2,067,439 2,609,370
TOTAL LIABILITIES 40,824,202 49,734,398 55,675,989
NET ASSETS15 40,460,202 41,702,411 40,890,904
Share capital 10,618,348 10,618,348 10,618,348
Share premium 67,417 67,417 67,417
Other capital contribution16 1,915,000 1,915,000 1,555,000
Retained earnings 26,477,784 27,998,868 27,388,404
Fair value reserve (72,264) (193,911) 100,968
Assets revaluation reserve 1,453,917 1,296,689 1,160,767
SHAREHOLDERS' FUNDS 40,460,202 41,702,411 40,890,904
Bank Overdraft Not reported in this filing17 Not reported in this filing1718 –12
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (16)
  1. “Other receivables and prepayments” is an issuer-specific line, not mapped to a shared definition: Note 24a.
  2. Not reported in this filing: The FY2024 statement of financial position (p51) prints no income-tax-recoverable line.
  3. Printed under different labels across filings: “Reinsurance Contract assets”; “Reinsurance contract assets”.
  4. Printed under different labels across filings: “-At fair value through profit or loss”; “-Fair value through Profit or loss”.
  5. “Statutory deposits at amortised cost” is an issuer-specific line, not mapped to a shared definition: Note 25: deposits held with the Insurance Regulatory Authority.
  6. “Investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 20; nil in the Group columns.
  7. “Property and equipment and right of use asset” is an issuer-specific line, not mapped to a shared definition: Note 23a; one combined line.
  8. Printed under different labels across filings: “Property and equipment and right of use asset”; “Property and equipment and right of use asset*”.
  9. Printed under different labels across filings: “Intangible Assets”; “Intangible assets”.
  10. “Other payables and accruals and lease liabilities” is an issuer-specific line, not mapped to a shared definition: Note 29; one combined line.
  11. “Related party loan” is an issuer-specific line, not mapped to a shared definition: Note 33; nil in the Group columns.
  12. Not reported in this filing: The FY2024 statement of financial position (p51) prints no related-party-loan line.
  13. “NET ASSETS” is an issuer-specific line, not mapped to a shared definition: Total assets less total liabilities, as printed.
  14. “Other capital contribution” is an issuer-specific line, not mapped to a shared definition: Note 34: deposit for shares.
  15. Not reported in this filing: The FY2025 statement of financial position (p19) prints no bank overdraft line (the FY2024 report printed one, with dashes).
  16. Annual report dated 2025-04-30 presents this line for this year: – (p51). Not shown in this column, which follows one filing's presentation.

Cash flow

Cash flow, UGX thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Cash generated from/(used in) operations (4,977,012) (1,967,101) (3,194,354)
Lease liability interest paid1 (60,906) (78,280) (122,186)
Loans and borrowings interest paid2 (1,125,730) (775,569) (1,129,771)
Tax paid (212,779) (679,277) (1,276,373)
Net cash generated from/(used in) operating activities (6,376,425) (3,500,227) (5,722,684)
Purchase of property and equipment- land & building34 (58,310) –5 (189,039)
Purchase of property and equipment- Furniture, Motor Vehicles & Computer equipment6 (114,043) (30,189) (1,116,398)
Purchase of intangibles (301,041) –5 (19,878)
Investments in subsidiaries (NIC Life)7 –5 –5 Not reported in this filing8
Sale/Purchase of investment properties9 –5 –5 –5
Sales of unquoted shares1011 –5 (2,746,792) –5
Sale/purchase/transfer of unquoted shares12 –5 4,133,505 152,750
Proceeds from the disposal of investment property13 7,363,962 –5 Not reported in this filing14
Proceeds from liquidated government bonds15 7,658,985 –5 Not reported in this filing16
Proceeds from disposal of property and equipment - Furniture & equipment 37,100 –5 Not reported in this filing17
Dividend received18 47,029 97,267 234,389
Purchase of statutory deposit at amortised cost19 (1,333,298) (776,440) (700,649)
Purchase of governmentsecurities2021 (11,906,038) (1,082,200) (310,867)
Purchase of fixed deposits22 (4,865,960) (12,077,638) (28,325,294)
Staff loans disbursed23 (133,234) (150,660) (67,100)
Matured statutory deposits- cost24 1,244,599 756,960 760,733
Interest received on matured statutory deposits25 119,412 136,562 124,162
Matured government securities- cost26 4,478,773 1,154,535 3,983,374
Interest received on matured government securities27 925,682 627,698 685,775
Matured Fixed deposits- cost28 7,684,341 10,790,568 36,702,869
Interest received on matured fixed deposits29 459,659 516,117 1,531,608
Staff loans repayments30 113,107 76,968 145,185
Net cash (used in)/generated from investing activities31 11,420,727 1,426,261 13,637,234
Dividend paid32 (8,008) (5,079) (1,075,638)
Lease payment (Principal) (649,517) (570,551) (436,968)
Loans and borrowings received 2,091,944 4,050,000 514,408
Related party borrowing received33 –34 –34 Not reported in this filing35
Repayment of loans (5,128,323) (3,191,968) (6,382,977)
Other capital contribution36 –34 360,000 845,000
Net cash generated from/used in financing activities37 (3,693,905) 642,402 (6,536,175)
Net (decrease)/increase in cash and cash equivalents 1,350,397 (1,431,564) 1,378,375
Cash and cash equivalents at the beginning of the year 1,093,087 2,524,651 1,146,696
Cash and cash equivalents at the end of the year 2,443,483 1,093,087 2,524,651
Policy loans repayments38 Not reported in this filing39 Not reported in this filing3940 45,614
Foreign exchange difference Not reported in this filing41 Not reported in this filing4140 (420)
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (39)
  1. Printed under different labels across filings: “Lease liability interest paid”; “Lease liability interest paid*”.
  2. “Loans and borrowings interest paid” is an issuer-specific line, not mapped to a shared definition: Note 31; operating activities.
  3. “Purchase of property and equipment- land & building” is an issuer-specific line, not mapped to a shared definition: Note 23 (a); investing activities.
  4. Printed under different labels across filings: “Purchase of property and equipment- land & building”; “Purchase of property and equipment- land & building*”.
  5. “Purchase of property and equipment- Furniture, Motor Vehicles & Computer equipment” is an issuer-specific line, not mapped to a shared definition: Note 23 (a); investing activities.
  6. “Investments in subsidiaries (NIC Life)” is an issuer-specific line, not mapped to a shared definition: Note 20; investing activities.
  7. Not reported in this filing: The FY2024 statement of cash flows (p57) prints no investment-in-subsidiaries line.
  8. “Sale/Purchase of investment properties” is an issuer-specific line, not mapped to a shared definition: Note 21; investing activities.
  9. “Sales of unquoted shares” is an issuer-specific line, not mapped to a shared definition: Note 18 (b); investing activities.
  10. Printed under different labels across filings: “Sales of quoted shares”; “Sales of unquoted shares”.
  11. “Sale/purchase/transfer of unquoted shares” is an issuer-specific line, not mapped to a shared definition: Note 18 (b); investing activities.
  12. “Proceeds from the disposal of investment property” is an issuer-specific line, not mapped to a shared definition: Note 25 (a); investing activities.
  13. Not reported in this filing: The FY2024 statement of cash flows (p57) prints no investment-property disposal line.
  14. “Proceeds from liquidated government bonds” is an issuer-specific line, not mapped to a shared definition: Note 18c; investing activities.
  15. Not reported in this filing: The FY2024 statement of cash flows (p57) prints no liquidated-bonds line.
  16. Not reported in this filing: The FY2024 statement of cash flows (p57) prints no disposal-proceeds line.
  17. “Dividend received” is an issuer-specific line, not mapped to a shared definition: Note 10 (a); investing activities.
  18. “Purchase of statutory deposit at amortised cost” is an issuer-specific line, not mapped to a shared definition: Note 25; investing activities.
  19. “Purchase of governmentsecurities” is an issuer-specific line, not mapped to a shared definition: Note 18 ('c) (i); investing activities.
  20. Printed under different labels across filings: “Purchase of government securities”; “Purchase of governmentsecurities”.
  21. “Purchase of fixed deposits” is an issuer-specific line, not mapped to a shared definition: Note 18 ('c) (ii); investing activities.
  22. “Staff loans disbursed” is an issuer-specific line, not mapped to a shared definition: Note 18 ('c) (iii); investing activities.
  23. “Matured statutory deposits- cost” is an issuer-specific line, not mapped to a shared definition: Note 25; investing activities.
  24. “Interest received on matured statutory deposits” is an issuer-specific line, not mapped to a shared definition: Note 25; investing activities.
  25. “Matured government securities- cost” is an issuer-specific line, not mapped to a shared definition: Note 18 ('c) (i); investing activities.
  26. “Interest received on matured government securities” is an issuer-specific line, not mapped to a shared definition: Note 18 ('c) (i); investing activities.
  27. “Matured Fixed deposits- cost” is an issuer-specific line, not mapped to a shared definition: Note 18 ('c) (ii); investing activities.
  28. “Interest received on matured fixed deposits” is an issuer-specific line, not mapped to a shared definition: Note 18 ('c) (ii); investing activities.
  29. “Staff loans repayments” is an issuer-specific line, not mapped to a shared definition: Note 18 ('c) (iii); investing activities.
  30. Printed under different labels across filings: “Net cash (used in)/generated from investing activities”; “Net cash generated from investing activities”.
  31. Printed under different labels across filings: “Dividend (paid)/stale dividend cheque”; “Dividend paid”.
  32. “Related party borrowing received” is an issuer-specific line, not mapped to a shared definition: Note 31; nil in the Group columns.
  33. Not reported in this filing: The FY2024 statement of cash flows (p57) prints no related-party-borrowing line.
  34. “Other capital contribution” is an issuer-specific line, not mapped to a shared definition: Note 34; financing activities.
  35. Printed under different labels across filings: “Net cash generated from/(used in) financing activities”; “Net cash generated from/used in financing activities”.
  36. “Policy loans repayments” is an issuer-specific line, not mapped to a shared definition: Note 18(c)(ii); investing activities (printed in the FY2024 report only).
  37. Not reported in this filing: The FY2025 statement of cash flows (p23) prints no policy-loans line.
  38. Annual report dated 2025-04-30 presents this line for this year: - (p57). Not shown in this column, which follows one filing's presentation.
  39. Not reported in this filing: The FY2025 statement of cash flows (p23) prints no foreign-exchange line.

Per share and shares

Per share and shares. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Earnings / (loss) per share (per share)1 (0.72) 0.22 (1.12)
Weighted average shares (shares)4 Not reported in this filing2 2,123,670 thousand †3 2,123,670 thousand
Notes and alternative reported figures (4)
  1. Earnings / (loss) per share: printed as “Basic and Diluted (Ushs)”.
  2. Not reported in this filing: The FY2025 report prints earnings per share (p20) but no share count; the notes have no earnings-per-share table.
  3. From annual report “NIC Holdings Limited Annual Report and Consolidated and Separate Financial Statements for the year ended 31 December 2024” (signed / final), p125: the column's main source does not print this line.
  4. Weighted average shares: printed as “Weighted average number of ordinary shares in issue ('000)”.

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.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividend paid (8,008) UGX thousands Audited financial statements, p23
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid (5,079) UGX thousands Audited financial statements, p23
31 Dec 2023 Dividends paid (cash flow statement) Dividend (paid)/stale dividend cheque (1,075,638) UGX thousands Annual report, p57

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.

  • NIC Holdings Limited Annual Report and Consolidated and Separate Financial Statements for the year ended 31 December 2025

    Year ended 31 December 2025 · Audited financial statements · signed / final

    Audit: BDO East Africa (Uganda), unmodified opinion · signed

    Auditor's sign-off: BDO East Africa; engagement partner CPA Nicholus Mushabenta (P0507)

    Final status: Auditor's report signed by the partner and for BDO East Africa, sealed, dated 13 June 2026 (p18, page image); statements approved by the board on 11th June 2026 and signed by two directors (p19, page image).

    Document date
    13 Jun 2026
    Published
    27 Jul 2026
    Auditor's report
    13 Jun 2026
    Board approval
    11 Jun 2026
    Retrieved by us
    7 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · UGX thousands (printed “Ushs'000”)
    • Reinsurance finance income is printed (80,822) for 2025, a deduction, on the face of the statement (p20) and in the segment note (p47, 'Reinsurance finance income(expense)'); the reinsurance contract roll-forward (p81) labels 80,822 'Total reinsurance finance income'. The face amount is recorded as printed under the issuer's own line.
    • The credit-risk table (p55) heads the column holding 2,391,246 (2024: 1,055,893) 'Gross'; these are the net amounts (gross 2,443,483 less ECL 52,237, p61).
    • Cash in the statement of cash flows (2,443,483; 2024: 1,093,087) is the gross carrying amount of cash and cash equivalents before the expected credit loss allowance (52,237; 2024: 37,194); the statement of financial position shows the net amount (2,391,246; 2024: 1,055,893). Note 7 (p61) gives the gross carrying amount and the allowance; the FY2024 report states the definition in its cash note ('For the purposes of the statement of cash flows, cash and cash equivalents comprise', note 17). The cash-continuity check uses this stated definition.
    • Columns are printed Group 2025, Company 2025, Group 2024, Company 2024; Group values are recorded with their column positions. No total equity-and-liabilities line is printed ('NET ASSETS' and 'SHAREHOLDERS' FUNDS' instead).
    • p19: the text layer carries the board approval date as '1st June, 2026' and '11th June 2026'; the page render shows only '11th June 2026'. The rendered date is recorded.
    • p23: the text layer carries the word 'Restated' over the 2024 cash-flow column heading; the page render shows only '31 December 2024 (Ushs'000)'. The comparative is not treated as restated (checked on the page image).
    Technical details
    File
    93 pages, with a text layer
    SHA-256
    65c5526e6c9f90042c48d0d524dbeabcf9f21f8ad7bd8a1038335c339399a650
    Entity as printed
    NIC Holdings Limited and its subsidiaries (the Group)
    Note
    A 140-page 'NIC Holdings Annual Report 2025' is also on the issuer's site (SHA-256 201da6b4a4fe…); these final audited statements are used.
    Issuer copy
    retrieved 2026-10-07T00:06:49Z · curl

  • NIC Holdings Limited Annual Report and Consolidated and Separate Financial Statements for the year ended 31 December 2024

    Year ended 31 December 2024 · Annual report · signed / final

    Audit: BDO East Africa (Uganda), unmodified opinion · signed

    Auditor's sign-off: BDO East Africa; CPA Nicholus Mushabenta, partner

    Final status: Auditor's report signed for BDO East Africa, sealed and dated 30 April 2025 (p49, page image); statements approved by the board on 29th April, 2025 and signed by two directors (p52, page image).

    Document date
    30 Apr 2025
    Auditor's report
    30 Apr 2025
    Board approval
    29 Apr 2025
    Retrieved by us
    7 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023
    Basis
    consolidated statements · UGX thousands (printed “Ushs'000”)
    • Statement of cash flows (p57): 'Sales of quoted shares' is printed (2,746,792) for 2024, an outflow under a sales caption; the FY2025 report prints the same amount as 'Sales of unquoted shares'. Recorded as printed, as one line.
    • The FY2025 report prints 2024 comparatives (not headed 'Restated' on the page; the word appears only in its hidden text layer); the FY2024 figures here are as originally published.
    • Statement of cash flows (p57): the Company 2023 column is printed about one row above its labels for most lines (e.g. 1,206,513 beside the column heading); the Group columns are aligned. Only Group values are transcribed.
    • Cash in the statement of cash flows is the gross amount before the expected credit loss allowance: note 17 (p125) 'For the purposes of the statement of cash flows, cash and cash equivalents comprise' cash and bank balances of 1,093,087 (2023: 2,524,651), less expected credit loss (37,194) (2023: (56,287)), total 1,055,893 (2023: 2,468,364) as on the statement of financial position.
    • The statement pages (pp51-57) are printed sideways; columns are Group 2024, Company 2024, Group 2023, Company 2023. Group values are recorded with their column positions.
    Technical details
    File
    162 pages, with a text layer
    SHA-256
    90b56c12ee2157651a14cb664ccbf3c97f29981aeed2c7c709cc1df43e041539
    Entity as printed
    NIC Holdings Limited and its subsidiaries (the Group)
    Note
    The issuer's download page names this file 'NIC Holdings Annual Report 2023'; its cover, statements and auditor's report are for the year ended 31 December 2024. The USE copy of the FY2024 statements (published 5 May 2025) answers HTTP 404.
    Issuer copy
    retrieved 2026-10-07T00:07:01Z · curl

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