Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 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
SBC
On this page
Company details
- Legal name
- SBC Limited
- Listing
- SBC on the Eswatini Stock Exchange, active · ISIN SZE000331031 (observed 2026-10-06)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · published summary of audited statements, final status not established · source
Read with these figures
- Published summary of audited statements not confirmed as final. The published copy is not confirmed as the final version. The FY2025 figures come from it.
Full wording and sources
Published summary of audited statements for 2025: final status not established
Group results published on the Eswatini Stock Exchange. No auditor's report on the summary is printed; the summary states that the annual financial statements 'have been audited by SNG Grant Thornton Chartered Accountants (Eswatini)' and that 'The auditor's report does not necessarily report on all of the information contained in this announcement' (p1). It closes 'By order of the Board, T Dladla, Chairperson' (typeset, no signature or date) (p1 page image).
Source: SBC Limited and Subsidiaries Group Results for the year ended 31 December 2025 (undated)
2025, 2024: figures from a published summary
These columns come from a summary of the audited statements, not the full audited financial statements. The summary does not state its source; it says 'The annual financial statements for the year ended 31 December 2025 have been audited by SNG Grant Thornton Chartered Accountants (Eswatini)' and heads its columns 'Audited' (p1). No auditor's report on the summary is printed; the summary states 'The annual financial statements for the year ended 31 December 2025 have been audited by SNG Grant Thornton Chartered Accountants (Eswatini). The auditor's report does not necessarily report on all of the information contained in this announcement.' (p1). The opinion is not stated. Condensed consolidated statements of comprehensive income, financial position, changes in equity and cash flows, notes 1-8 (EPS and share numbers, loans and advances, cash, other financial liabilities, related parties, cash generated from operations, segments) and commentary, on one page. Changes in equity, segments and note 7 are not transcribed. The statement of comprehensive income does not print an attributable-profit split.
Source: SBC Limited and Subsidiaries Group Results for the year ended 31 December 2025 (undated)
-
Revenue
SZL 461 million
460,733,930 SZL units · p1
+4.1% vs 2024
-
Operating profit / (loss)
SZL 271 million
271,293,865 SZL units · p1
+14.8% vs 2024
-
Profit / (loss) for the year
−SZL 390,151
(390,151) SZL units · p1
Change not shown.
-
Total assets
SZL 3.22 billion
3,219,833,385 SZL units · p1
+2.5% vs 2024
-
Total equity
SZL 287 million
287,146,965 SZL units · p1
−33.8% vs 2024
-
Cash from operations
SZL 49.8 million
49,771,949 SZL units · p1
Change not shown.
Large amounts are rounded for reading (SZL 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 SZL 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 — published summary of audited statements (summary), final status not established; reported for the year · source
- FY2024 — published summary of audited statements (summary), final status not established; comparative in the FY2025 filing · source
- 2025, 2024: figures from a published summary. These columns come from a summary of the audited statements, not the full audited financial statements. The summary does not state its source; it says 'The annual financial statements for the year ended 31 December 2025 have been audited by SNG Grant Thornton Chartered Accountants (Eswatini)' and heads its columns 'Audited' (p1). No auditor's report on the summary is printed; the summary states 'The annual financial statements for the year ended 31 December 2025 have been audited by SNG Grant Thornton Chartered Accountants (Eswatini). The auditor's report does not necessarily report on all of the information contained in this announcement.' (p1). The opinion is not stated. Condensed consolidated statements of comprehensive income, financial position, changes in equity and cash flows, notes 1-8 (EPS and share numbers, loans and advances, cash, other financial liabilities, related parties, cash generated from operations, segments) and commentary, on one page. Changes in equity, segments and note 7 are not transcribed. The statement of comprehensive income does not print an attributable-profit split.
Income statement
| Line (as printed) | FY2025Published summary of audited statements (summary)reported for the year | FY2024Published summary of audited statements (summary)comparative in FY2025 filingsource limitations |
|---|---|---|
| Revenue | 460,733,930 | 442,800,028 |
| Operating expenses | (190,303,320) | (200,444,231) |
| Impairment loss on loan and advances | 863,255 | (6,119,368) |
| OPERATING PROFIT | 271,293,865 | 236,236,429 |
| Investment income | 91,471,777 | 75,734,444 |
| Finance costs | (328,865,966) | (303,505,172) |
| Share of loss from joint venture | (306,903) | –1 |
| PROFIT BEFORE TAXATION | 33,592,773 | 8,465,701 |
| Taxation | (33,982,924) | (12,257,889) |
| LOSS FOR THE YEAR | (390,151) | (3,792,188) |
| Other comprehensive loss | (6,309,634) | –2 |
- Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
- Printed “-”; reading unresolved, so no amount is shown. Printed dash (2024). Total comprehensive income is not transcribed (its amounts are split irregularly in the text layer), so no transcribed subtotal confirms the nil; the page image shows total comprehensive loss 2024 (3 792 188) equal to the loss for the year.
Balance sheet
| Line (as printed) | FY2025Published summary of audited statements (summary)reported for the year | FY2024Published summary of audited statements (summary)comparative in FY2025 filingsource limitations |
|---|---|---|
| Investment property | 374,547,447 | 347,157,525 |
| Property, plant and equipment | 6,967,072 | 4,639,489 |
| Goodwill1 | 209,448,253 | 209,448,253 |
| Intangible assets | 3,813,427 | 3,932,655 |
| Investment in joint ventures | 2,193,097 | 2,500,000 |
| Amounts owing by related parties2 | 63,000,000 | 63,000,000 |
| Other financial assets3 | 261,351,414 | 261,351,414 |
| Deferred tax asset | 66,085,644 | 53,484,597 |
| Work-in-progress4 | 40,113,625 | 9,780,990 |
| Loans and advances5 | 967,220,431 | 1,049,510,601 |
| Right-of-use assets | 6,322,947 | 2,973,877 |
| Non-current assets (unlabelled subtotal) | 2,001,063,357 | 2,007,779,401 |
| Amounts owing by related parties6 | 671,705,519 | 591,974,034 |
| Other financial assets7 | 1,101,227 | –8 |
| Current tax receivable | –8 | 3,634,070 |
| Prepayments to contractor9 | 13,233,290 | 12,337,395 |
| Loans and advances10 | 341,447,829 | 365,704,013 |
| Trade and other receivables | 40,223,188 | 31,495,266 |
| Cash and cash equivalents | 151,058,975 | 127,028,326 |
| Current assets (unlabelled subtotal) | 1,218,770,028 | 1,132,173,104 |
| TOTAL ASSETS | 3,219,833,385 | 3,139,952,505 |
| Share capital11 | 348,329,629 | 348,329,629 |
| Cash flow hedging reserve12 | (6,309,634) | –13 |
| (Accumulated loss)/ retained earnings | (54,873,030) | 85,517,121 |
| Equity (unlabelled subtotal) | 287,146,965 | 433,846,750 |
| Amount owing to related parties | 484,437,515 | 243,519,956 |
| Other financial liabilities | 1,135,388,202 | 886,146,528 |
| Deferred income14 | 4,823,374 | 17,256,560 |
| Lease liabilities | 5,025,787 | 1,810,460 |
| Non-current liabilities (unlabelled subtotal) | 1,629,674,878 | 1,148,733,504 |
| Amounts owing to related parties | 643,923,724 | 765,745,218 |
| Other financial liabilities | 635,329,509 | 780,001,622 |
| Current tax payable | 3,570,373 | –15 |
| Trade and other payables | 16,738,752 | 4,318,522 |
| Deferred income16 | 1,607,792 | 5,752,187 |
| Lease liabilities | 1,841,392 | 1,554,702 |
| Current liabilities (unlabelled subtotal) | 1,303,011,542 | 1,557,372,251 |
| TOTAL LIABILITIES | 2,932,686,420 | 2,706,105,755 |
| TOTAL EQUITY AND LIABILITIES | 3,219,833,385 | 3,139,952,505 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_equity.
- Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (13)
- “Goodwill” is an issuer-specific line, not mapped to a shared definition: Goodwill (non-current).
- “Amounts owing by related parties” is an issuer-specific line, not mapped to a shared definition: Loans to related parties, non-current.
- “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Other financial assets, non-current.
- “Work-in-progress” is an issuer-specific line, not mapped to a shared definition: Property development work in progress, presented among non-current assets.
- “Loans and advances” is an issuer-specific line, not mapped to a shared definition: Net loans and advances to customers, non-current portion (note 3 gives the total net of impairment).
- “Amounts owing by related parties” is an issuer-specific line, not mapped to a shared definition: Loans to related parties, current.
- “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Other financial assets, current.
- “Prepayments to contractor” is an issuer-specific line, not mapped to a shared definition: Prepayments to a construction contractor.
- “Loans and advances” is an issuer-specific line, not mapped to a shared definition: Net loans and advances to customers, current portion.
- “Share capital” is an issuer-specific line, not mapped to a shared definition: Statement-of-financial-position 'Share capital' line: share capital (9 649) plus share premium (348 319 980), as the statement of changes in equity splits it.
- “Cash flow hedging reserve” is an issuer-specific line, not mapped to a shared definition: Cash flow hedging reserve.
- “Deferred income” is an issuer-specific line, not mapped to a shared definition: Deferred income, non-current.
- “Deferred income” is an issuer-specific line, not mapped to a shared definition: Deferred income, current.
Cash flow
| Line (as printed) | FY2025Published summary of audited statements (summary)reported for the year | FY2024Published summary of audited statements (summary)comparative in FY2025 filingsource limitations |
|---|---|---|
| Cash generated from operations | 378,889,357 | 83,338,215 |
| Interest income | 6,715,135 | 4,878,629 |
| Interest paid | (314,654,596) | (178,839,449) |
| Tax paid | (21,177,947) | (15,767,726) |
| NET CASH GENERATED FROM/ (USED IN) OPERATING ACTIVITIES | 49,771,949 | (106,390,331) |
| Purchase of property, plant and equipment | (4,566,434) | (2,702,328) |
| Proceeds on sale of property, plant and equipment | 160,433 | 29,184 |
| Purchases of joint arrangements1 | –2 | (2,500,000) |
| Increase in other financial assets3 | (1,101,227) | –2 |
| Expenditure incurred for investment property4 | (76,843,131) | (7,900,256) |
| Purchase of other intangible assets | (2,439,378) | (1,743,816) |
| NET CASH USED IN INVESTING ACTIVITIES | (84,789,737) | (14,817,216) |
| Repayment of loans from group and related party companies5 | (52,901,179) | (232,075,754) |
| Proceeds from loans from group and related party companies6 | 156,360,000 | 496,984,044 |
| Repayment of other financial liabilities | (193,720,863) | (255,111,998) |
| Proceeds from other financial liabilities | 292,076,447 | 159,545,539 |
| Repayment of lease liabilities | (2,765,968) | (2,381,924) |
| Dividends paid | (140,000,000) | (10,000,000) |
| NET CASH GENERATED FROM FINANCING ACTIVITIES | 59,048,437 | 156,959,907 |
| TOTAL CASH MOVEMENT FOR THE YEAR | 24,030,649 | 35,752,360 |
| Cash at the beginning of the year | 127,028,326 | 91,275,966 |
| TOTAL CASH AT END OF THE YEAR | 151,058,975 | 127,028,326 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (5)
- “Purchases of joint arrangements” is an issuer-specific line, not mapped to a shared definition: Investing: investment in joint arrangements.
- “Increase in other financial assets” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Expenditure incurred for investment property” is an issuer-specific line, not mapped to a shared definition: Investing: additions to investment property.
- “Repayment of loans from group and related party companies” is an issuer-specific line, not mapped to a shared definition: Financing.
- “Proceeds from loans from group and related party companies” is an issuer-specific line, not mapped to a shared definition: Financing.
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.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividends paid |
(140,000,000) | SZL units | Summary statements, p1 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividends paid |
(10,000,000) | SZL units | Summary statements, p1 |
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.
-
SBC Limited and Subsidiaries Group Results for the year ended 31 December 2025
Year ended 31 December 2025 · Published summary of audited statements (summary) · final status not established
Audit: Auditor not stated (named); no auditor's opinion on the full statements in this document · no signature page in this document
Final status: Group results published on the Eswatini Stock Exchange. No auditor's report on the summary is printed; the summary states that the annual financial statements 'have been audited by SNG Grant Thornton Chartered Accountants (Eswatini)' and that 'The auditor's report does not necessarily report on all of the information contained in this announcement' (p1). It closes 'By order of the Board, T Dladla, Chairperson' (typeset, no signature or date) (p1 page image).
- Document date
- none printed — undated
- Auditor's report
- date not found in this document
- Board approval
- date not found in this document
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- consolidated statements · SZL units (printed “Figures in Emalangeni”)
- Earnings per share 2025 is printed (7) cents in the statement of comprehensive income and in note 2.1, while the loss for the year (390 151) over the weighted average of 96 490 000 shares gives about (0.4) cents; 2024 (4) cents agrees with (3 792 188) / 96 490 000. Kept as printed (page image checked).
- The statement-of-financial-position 'Share capital' (348 329 629) includes share premium: the statement of changes in equity prints share capital 9 649 and share premium 348 319 980. 'Other financial liabilities' are borrowings at amortised cost (note 5.1: medium term notes, promissory notes, bank facility).
- No auditor's report on the summary is printed; the summary states 'The annual financial statements for the year ended 31 December 2025 have been audited by SNG Grant Thornton Chartered Accountants (Eswatini). The auditor's report does not necessarily report on all of the information contained in this announcement.' (p1). The opinion is not stated.
- Condensed consolidated statements of comprehensive income, financial position, changes in equity and cash flows, notes 1-8 (EPS and share numbers, loans and advances, cash, other financial liabilities, related parties, cash generated from operations, segments) and commentary, on one page. Changes in equity, segments and note 7 are not transcribed. The statement of comprehensive income does not print an attributable-profit split.
Technical details
- File
- 1 pages, with a text layer
- SHA-256
1bc89557eccbf55b4245448c5dc9ee1c00744dc2e6a49d341df7c0d4374997b2- Entity as printed
- SBC Limited and Subsidiaries (Incorporated in the Kingdom of Eswatini, Reg. No. 473 of 2011; ISIN SZE000331031, Share Code SBC)
- Exchange copy
- retrieved 2026-10-08T18:04:07Z
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) (17 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.