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
Tadvest
On this page
Company details
- Legal name
- Tadvest Limited
- Primary listing
- TAD on the Namibian Stock Exchange, active (observed 2026-10-06)
- Primary listing
- No ticker printed on the Stock Exchange of Mauritius, active (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 · 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
Abridged audited financial statements issued 'By Order of the Board' by the company secretary (Safyr Utilis Corporate and Trust Services Ltd), signed by hand and dated 30-Mar-26 (PDF p1), pursuant to SEM Listing Rule 12.20 and section 88 of the Securities Act 2005. Columns are headed 'Audited', but no auditor's report, auditor name, opinion or audit report date is printed.
Source: Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (dated 2026-03-30)
2025, 2024: figures from a published summary
These columns come from a summary of the audited statements, not the full audited financial statements. Titled 'ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025', columns headed 'Audited'; 'The year end reports have been prepared on the same basis as the accounting policies and methods of computation set out in the audited Financial Statements of the Company for the year ended 31 December 2025.' (p1). It does not say it was extracted from them. No auditor's report on the summary is printed and no auditor is named. The title reads 'ABRIDGED AUDITED FINANCIAL STATEMENTS', the columns are headed 'Audited', and 'Others' states 'The year end reports have been prepared on the same basis as the accounting policies and methods of computation set out in the audited Financial Statements of the Company for the year ended 31 December 2025.' (p1) Company statement of financial position (with NAV per share), comprehensive income, cash flows and changes in equity, plus comments (p1). Condensed lines: assets and liabilities as non-current/current totals only; the cash-flow statement prints only the three activity totals, the net change, opening/closing cash and exchange effects.
Source: Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 (dated 2026-03-30)
-
Revenue
USD 696,587
696,587 USD units · p1
−22.1% vs 2024
-
Operating profit / (loss)
USD 36.0 million
36,000,546 USD units · p1
+357.4% vs 2024
-
Profit / (loss) for the year
USD 36.2 million
36,156,956 USD units · p1
+353.0% vs 2024
-
Total assets
USD 119 million
118,777,042 USD units · p1
+43.5% vs 2024
-
Total equity
USD 119 million
118,713,500 USD units · p1
+43.8% vs 2024
-
Cash from operations
USD 83,312
83,312 USD units · p1
−89.2% 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 — 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. Titled 'ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025', columns headed 'Audited'; 'The year end reports have been prepared on the same basis as the accounting policies and methods of computation set out in the audited Financial Statements of the Company for the year ended 31 December 2025.' (p1). It does not say it was extracted from them. No auditor's report on the summary is printed and no auditor is named. The title reads 'ABRIDGED AUDITED FINANCIAL STATEMENTS', the columns are headed 'Audited', and 'Others' states 'The year end reports have been prepared on the same basis as the accounting policies and methods of computation set out in the audited Financial Statements of the Company for the year ended 31 December 2025.' (p1) Company statement of financial position (with NAV per share), comprehensive income, cash flows and changes in equity, plus comments (p1). Condensed lines: assets and liabilities as non-current/current totals only; the cash-flow statement prints only the three activity totals, the net change, opening/closing cash and exchange effects.
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 | 696,587 | 894,761 |
| Other operating income | 8,968,852 | 410,093 |
| Other operating gains1 | 27,125,567 | 7,076,242 |
| Administrative expenses | (790,460) | (510,409) |
| Operating profit | 36,000,546 | 7,870,687 |
| Finance income | 262,509 | 121,032 |
| Finance costs | (13,858) | (218) |
| Profit before tax | 36,249,197 | 7,991,501 |
| Income tax expense | (92,241) | (9,537) |
| Profit for the year | 36,156,956 | 7,981,964 |
| Other comprehensive income | –2 | –2 |
| Total comprehensive income for the year | 36,156,956 | 7,981,964 |
- Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (1)
- “Other operating gains” is an issuer-specific line, not mapped to a shared definition: Other operating gains as printed within operating profit; the commentary attributes the year's NAV increase mainly to revaluation gains on investments and realised profit on disposals (p1).
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 |
|---|---|---|
| Non-current assets | 85,272,7541 | 77,329,367 |
| Current assets | 33,504,2882 | 5,420,188 |
| Total assets | 118,777,0423 | 82,749,555 |
| Stated capital | 42,881,2014 | 42,881,201 |
| Retained income | 75,832,2995 | 39,675,343 |
| Total equity | 118,713,5006 | 82,556,544 |
| Non-current liabilities | –7 | –7 |
| Current liabilities | 63,5428 | 193,011 |
| Total liabilities | 63,5428 | 193,011 |
| Total equity and liabilities | 118,777,042 | 82,749,555 |
- Printed “8 5 272 754”; read as 85272754. p1: Text-layer artefact: the word-position re-read returns this cell as '8 5 272 754', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 85 272 754. Read as the same digits joined.
- Printed “3 3 504 288”; read as 33504288. p1: Text-layer artefact: the word-position re-read returns this cell as '3 3 504 288', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 33 504 288. Read as the same digits joined.
- Printed “1 18 777 042”; read as 118777042. p1: Text-layer artefact: the word-position re-read returns this cell as '1 18 777 042', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 118 777 042. Read as the same digits joined.
- Printed “4 2 881 201”; read as 42881201. p1: Text-layer artefact: the word-position re-read returns this cell as '4 2 881 201', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 42 881 201. Read as the same digits joined.
- Printed “7 5 832 299”; read as 75832299. p1: Text-layer artefact: the word-position re-read returns this cell as '7 5 832 299', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 75 832 299. Read as the same digits joined.
- Printed “1 18 713 500”; read as 118713500. p1: Text-layer artefact: the word-position re-read returns this cell as '1 18 713 500', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 118 713 500. Read as the same digits joined.
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
- Printed “6 3 542”; read as 63542. p1: Text-layer artefact: the word-position re-read returns this cell as '6 3 542', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 63 542. Read as the same digits joined.
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 |
|---|---|---|
| Net cash from operating activities | 83,312 | 768,261 |
| Net cash flows from/(used in) investing activities | 21,464,794 | 189,795 |
| Net cash used in financing activities | (9,799) | –1 |
| Increase in cash and cash equivalents | 21,538,307 | 958,056 |
| Opening cash and cash equivalents | 1,133,057 | 307,880 |
| Effect of exchange rates on cash balances | (52,643) | (132,879) |
| Closing cash and cash equivalents | 22,618,721 | 1,133,057 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.net_change_in_cash.
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.
-
Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS 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
Final status: Abridged audited financial statements issued 'By Order of the Board' by the company secretary (Safyr Utilis Corporate and Trust Services Ltd), signed by hand and dated 30-Mar-26 (PDF p1), pursuant to SEM Listing Rule 12.20 and section 88 of the Securities Act 2005. Columns are headed 'Audited', but no auditor's report, auditor name, opinion or audit report date is printed.
- Document date
- 30 Mar 2026
- Auditor's report
- date not recorded
- Board approval
- date not recorded
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- company statements · USD units (printed “USD”)
- Investment entity: 'Tadvest Limited is an investment entity as defined in IFRS 10 Consolidated Financial Statements and has used the exception to consolidation provision of the Standard for its subsidiaries. Instead its interests in its investees are recognised at fair value.' (p1). Company statements are the only statements; no consolidated statements exist.
- No auditor's report on the summary is printed and no auditor is named. The title reads 'ABRIDGED AUDITED FINANCIAL STATEMENTS', the columns are headed 'Audited', and 'Others' states 'The year end reports have been prepared on the same basis as the accounting policies and methods of computation set out in the audited Financial Statements of the Company for the year ended 31 December 2025.' (p1)
- Company statement of financial position (with NAV per share), comprehensive income, cash flows and changes in equity, plus comments (p1). Condensed lines: assets and liabilities as non-current/current totals only; the cash-flow statement prints only the three activity totals, the net change, opening/closing cash and exchange effects.
Technical details
- File
- 1 pages, with a text layer
- SHA-256
673a43f2bb6c98d20435ecba27d5ee2219aeadfaf6b16f61684085a152ff863f- Entity as printed
- Tadvest Limited
- Exchange copy
- retrieved 2026-10-08T20:44:37Z
Data notes
- Non-current assets — Printed '8 5 272 754'; read as '85272754'. Text-layer artefact: the word-position re-read returns this cell as '8 5 272 754', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 85 272 754. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Non-current assets — OCR read '8 5 272 754'; the page image shows '8 5 272 754'. Text-layer artefact: the word-position re-read returns this cell as '8 5 272 754', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 85 272 754. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Current assets — Printed '3 3 504 288'; read as '33504288'. Text-layer artefact: the word-position re-read returns this cell as '3 3 504 288', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 33 504 288. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Current assets — OCR read '3 3 504 288'; the page image shows '3 3 504 288'. Text-layer artefact: the word-position re-read returns this cell as '3 3 504 288', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 33 504 288. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Total assets — Printed '1 18 777 042'; read as '118777042'. Text-layer artefact: the word-position re-read returns this cell as '1 18 777 042', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 118 777 042. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Total assets — OCR read '1 18 777 042'; the page image shows '1 18 777 042'. Text-layer artefact: the word-position re-read returns this cell as '1 18 777 042', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 118 777 042. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Stated capital — Printed '4 2 881 201'; read as '42881201'. Text-layer artefact: the word-position re-read returns this cell as '4 2 881 201', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 42 881 201. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Stated capital — OCR read '4 2 881 201'; the page image shows '4 2 881 201'. Text-layer artefact: the word-position re-read returns this cell as '4 2 881 201', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 42 881 201. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Retained income — Printed '7 5 832 299'; read as '75832299'. Text-layer artefact: the word-position re-read returns this cell as '7 5 832 299', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 75 832 299. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Retained income — OCR read '7 5 832 299'; the page image shows '7 5 832 299'. Text-layer artefact: the word-position re-read returns this cell as '7 5 832 299', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 75 832 299. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Total equity — Printed '1 18 713 500'; read as '118713500'. Text-layer artefact: the word-position re-read returns this cell as '1 18 713 500', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 118 713 500. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Total equity — OCR read '1 18 713 500'; the page image shows '1 18 713 500'. Text-layer artefact: the word-position re-read returns this cell as '1 18 713 500', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 118 713 500. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Current liabilities — Printed '6 3 542'; read as '63542'. Text-layer artefact: the word-position re-read returns this cell as '6 3 542', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 63 542. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Current liabilities — OCR read '6 3 542'; the page image shows '6 3 542'. Text-layer artefact: the word-position re-read returns this cell as '6 3 542', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 63 542. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- NAV per share — Printed '2 .65'; read as '2.65'. Text-layer artefact: the word-position re-read returns this cell as '2 .65', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 2.65. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- NAV per share — OCR read '2 .65'; the page image shows '2 .65'. Text-layer artefact: the word-position re-read returns this cell as '2 .65', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 2.65. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- NAV per share — Printed '1 .84'; read as '1.84'. Text-layer artefact: the word-position re-read returns this cell as '1 .84', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 1.84. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- NAV per share — OCR read '1 .84'; the page image shows '1 .84'. Text-layer artefact: the word-position re-read returns this cell as '1 .84', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 1.84. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Earnings per share — Printed '0 .81'; read as '0.81'. Text-layer artefact: the word-position re-read returns this cell as '0 .81', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 0.81. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Earnings per share — OCR read '0 .81'; the page image shows '0 .81'. Text-layer artefact: the word-position re-read returns this cell as '0 .81', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 0.81. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Earnings per share — Printed '0 .18'; read as '0.18'. Text-layer artefact: the word-position re-read returns this cell as '0 .18', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 0.18. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
- Earnings per share — OCR read '0 .18'; the page image shows '0 .18'. Text-layer artefact: the word-position re-read returns this cell as '0 .18', the leading digit split from the rest; the plain text layer and the page image (PDF p1) print 0.18. Read as the same digits joined. (Tadvest Limited ABRIDGED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025, p1)
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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