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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (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

Secure Electronic Technology

NSLTECH · Nigerian Exchange · Company statements

On this page
Company details
Legal name
Secure Electronic Technology Plc
Listing
NSLTECH on the Nigerian Exchange, active · ISIN NGNSLTECH006 (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 · audited financial statements, signed / final · source

  • Revenue

    NGN 4.24 billion

    4,242,718,902 NGN units · p20

    −2.4% vs 2024

  • Operating profit / (loss)

    −NGN 163 million

    (163,193,559) NGN units · p20

    Change not shown.

  • Profit / (loss) for the year

    −NGN 167 million

    (166,793,559) NGN units · p20

    Change not shown.

  • Total assets

    NGN 4.45 billion

    4,447,981,684 NGN units · p19

    −8.1% vs 2024

  • Total equity

    NGN 3.60 billion

    3,595,423,170 NGN units · p19

    −8.1% vs 2024

  • Cash from operations

    NGN 21.5 million

    21,533,960 NGN units · p22

    Change not shown.

Large amounts are rounded for reading (NGN 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 NGN 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 — audited financial statements, signed / final; reported for the year · source
  • FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, NGN units. 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.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Revenue 4,242,718,902 4,347,604,441
Cost of sales (3,922,790,785) (4,065,269,463)
Gross profit 319,928,117 282,334,978
Other operating income 19,680,182 80,000
Other operating gains (losses)1 –2 1,200,000
Other operating expenses (502,801,858) (371,318,248)
Operating loss (163,193,559) (87,703,270)
Finance costs (3,600,000) (3,800,000)
Loss before taxation (166,793,559) (91,503,270)
Taxation –3 (29,521,963)
Total comprehensive loss for the year4 (166,793,559) (121,025,233)
  1. Printed “-”, read as nil: subtotal_arithmetic: is.operating_profit.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_for_year.
Notes and alternative reported figures (2)
  1. “Other operating gains (losses)” is an issuer-specific line, not mapped to a shared definition: Note 15.
  2. “Total comprehensive loss for the year”: mapping to a shared definition is uncertain. Printed 'Total comprehensive loss for the year' directly after taxation; no other comprehensive income is printed, so it is the result for the year.

Balance sheet

Balance sheet, NGN units. 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.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Property, plant and equipment 1,063,427,760 1,118,491,671
Intangible assets 2,239,600,000 2,492,366,667
Deferred tax 995,221,000 995,221,000
Non-current assets (unlabelled subtotal) 4,298,248,760 4,606,079,338
Trade and other receivables 128,755,900 170,628,408
Prepayments1 466,667 8,200,000
Cash and cash equivalents 20,510,357 52,655,645
Current assets (unlabelled subtotal) 149,732,924 231,484,053
Total Assets 4,447,981,684 4,837,563,391
Share capital 2,815,770,000 2,815,770,000
Reserves2 3,581,012,915 3,660,553,451
Accumulated loss (2,801,359,745) (2,565,646,983)
Equity (unlabelled subtotal) 3,595,423,170 3,910,676,468
Borrowing 310,649,777 310,649,777
Trade and other payables 19,749,969 74,078,378
Short-term loan(I-Bank)3 –4 20,000,000
Current tax payable 522,158,768 522,158,768
Current liabilities (unlabelled subtotal) 541,908,737 616,237,146
Total Liabilities 852,558,514 926,886,923
Total Equity and Liabilities 4,447,981,684 4,837,563,391
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (3)
  1. “Prepayments” is an issuer-specific line, not mapped to a shared definition: Note 6.
  2. “Reserves” is an issuer-specific line, not mapped to a shared definition: Reserves (not further described on the face).
  3. “Short-term loan(I-Bank)” is an issuer-specific line, not mapped to a shared definition: Note 10: short-term bank loan.

Cash flow

Cash flow, NGN units. 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.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Loss before taxation1 (166,793,559) (118,025,233)
Depreciation, amortisation, impairments and reversals of impairments2 180,182,375 112,857,414
Gains on sale of assets and liabilities3 –4 (1,200,000)
Other non-cash item included in profit or loss 15 12,867,712 –4
Finance costs6 3,600,000 3,800,000
(Increase) decrease in trade and other receivables7 41,872,508 (17,900,581)
(Increase) decrease in prepayments8 7,733,333 –4
Increase (decrease) in trade and other payables9 (54,328,409) (40,663,688)
Cash generated from operations 25,133,960 (61,132,088)
Finance costs (3,600,000) (3,800,000)
Tax received –10 29,521,963
Cash flows from non-current assets held for sale and disposal groups11 –10 1,200,000
Net cash from operating activities 21,533,960 (34,210,125)
Purchase of property, plant and equipment (33,679,248) –12
Purchases of intangible assets –12 (8,200,000)
Net cash from investing activities (33,679,248) (8,200,000)
Repayments of borrowings13 (20,000,000) 25,153,570
Total cash movement for the year (32,145,288) (17,256,555)
Cash and cash equivalents at the beginning of the year 52,655,645 69,912,200
Cash and cash equivalents at the end of the year 20,510,357 52,655,645
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_generated_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (10)
  1. “Loss before taxation” is an issuer-specific line, not mapped to a shared definition: Starting line of the indirect cash flow.
  2. “Depreciation, amortisation, impairments and reversals of impairments” is an issuer-specific line, not mapped to a shared definition: Non-cash adjustment.
  3. “Gains on sale of assets and liabilities” is an issuer-specific line, not mapped to a shared definition: Non-cash adjustment.
  4. “Other non-cash item included in profit or loss 1” is an issuer-specific line, not mapped to a shared definition: Non-cash adjustment (label printed with '1').
  5. “Finance costs” is an issuer-specific line, not mapped to a shared definition: Item presented separately.
  6. “(Increase) decrease in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  7. “(Increase) decrease in prepayments” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  8. “Increase (decrease) in trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  9. “Cash flows from non-current assets held for sale and disposal groups” is an issuer-specific line, not mapped to a shared definition: Printed within operating activities.
  10. “Repayments of borrowings”: mapping to a shared definition is uncertain. Sole financing line (note 10); no financing subtotal is printed. 2024 printed as an inflow 25,153,570 under the 'Repayments' label.

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.

  • Secure Electronic Technology Plc Financial Statements for the year ended December 31, 2025

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

    Audit: Kehinde Kassim & Co (Chartered Accountants), unmodified opinion · signed

    Auditor's sign-off: Kehinde Kassim (FRC/2013/ICAN/00000002763), for Kehinde Kassim & Co

    Final status: Independent auditors' report to the members (PDF pp16-18; opinion p16), unmodified, with a handwritten signature over 'Kehinde Kassim, FRC/2013/ICAN/00000002763, For: Kehinde Kassim & Co (Chartered Accountants), 23rd March, 2026, Lagos, Nigeria' and ICAN seal 0362168 (p18, page image). Statements approved by the board on March 26, 2026 with handwritten signatures of Dr. Odunlami Kola-Daisi (Chairman), Mr. Olusoji Oyeyemi (Managing Director) and Mr. Ajewole Tosin (Financial Controller) (p19, page image).

    Document date
    23 Mar 2026
    Auditor's report
    23 Mar 2026
    Board approval
    26 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    company statements · NGN units (printed “Figures in Naira”)
    • The cash-flow statement (p22) starts 2024 from a loss before taxation of (118,025,233), while the income statement (p20) prints (91,503,270) before tax and (121,025,233) after tax; it also prints a 2024 tax receipt of 29,521,963 equal to the 2024 tax charge. The accumulated loss rises by 235,712,762 (p19) against a 2025 loss of 166,793,559, and reserves fall by 79,540,536. Kept as printed.
    • 'Repayments of borrowings' (p22) is the only financing line and no financing subtotal is printed; the 2024 figure is an inflow of 25,153,570.
    • The auditors' report (p16) names the company 'SECURE ELECTRONICS TECHNOLOGY PLC' and is dated 23 March 2026, three days before the board approval date printed on p19 (March 26, 2026). The board approval line reads 'The financial statements and the notes on page 6, were approved'. A limited-assurance report on internal control over financial reporting by the same firm is printed on p15. Key audit matter: revenue (p16).
    Technical details
    File
    43 pages, scanned (figures read by OCR and checked against the page image)
    SHA-256
    937aa4c35a929a414df389083d5124b2cdf8f071f37f7b8fbf8fc57de3a3515c
    Entity as printed
    Secure Electronic Technology Plc (Registration number RC 372333)
    Exchange copy
    retrieved 2026-10-08T17:56:11Z

Data notes

  • Reserves — OCR read '3.581,012,915'; the page image shows '3,581,012,915'. OCR read the first thousands comma as a full stop; the render prints 3,581,012,915. (Secure Electronic Technology Plc Financial Statements for the year ended December 31, 2025, p19)
  • Reserves — OCR read '3.660,553,451'; the page image shows '3,660,553,451'. OCR read the first thousands comma as a full stop; the render prints 3,660,553,451. (Secure Electronic Technology Plc Financial Statements for the year ended December 31, 2025, p19)
  • Finance costs — OCR read '(3.800,000)'; the page image shows '(3,800,000)'. OCR read the thousands comma as a full stop; the render prints (3,800,000). (Secure Electronic Technology Plc Financial Statements for the year ended December 31, 2025, p20)

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text and compared cell by cell with the page image; read from the page image) (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.

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