Asia Vets 5RE
SGD 0.078
+0.00% +0.00 Updated 23 Oct 2026, 13:09 SGT
Financials
ANNUAL REPORT 2025
Explore the statements
8 tablesConsolidated Statement of Comprehensive Income (Group)
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$ | 2,320,411 | 2,521,438 | PDF p. 96 |
| Cost of sales$ | (1,721,061) | (1,827,588) | PDF p. 96 |
| Gross profit$ | 599,350 | 693,850 | PDF p. 96 |
| Other operating income$ | 247,412 | 402,476 | PDF p. 96 |
| Administrative expenses$ | (1,600,331) | (1,661,388) | PDF p. 96 |
| Other expenses$ | (5,700,000) | (1,400,000) | PDF p. 96 |
| Finance expenses$ | (15,776) | (10,903) | PDF p. 96 |
| Loss before tax$ | (6,469,345) | (1,975,965) | PDF p. 96 |
| Income tax$ | – | – | PDF p. 96 |
| Loss for the year, representing total comprehensive income attributable to owners of the Group$ | (6,469,345) | (1,975,965) | PDF p. 96 |
| Loss per share (in $ cents) | |||
| Basic$ cents per share | (4.43) | (1.35) | PDF p. 96 |
| Diluted$ cents per share | (4.43) | (1.35) | PDF p. 96 |
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Definitions & sources
Original report: PDF p. 96 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Balance Sheets as at 31 December 2025 (Group and Company)
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Plant and equipment$ | 435,998 | 527,537 | – | – | PDF p. 97 |
| Right-of-use assets$ | 269,143 | 500,446 | – | – | PDF p. 97 |
| Investment in a subsidiary$ | – | – | – | 471,040 | PDF p. 97 |
| Goodwill$ | 1,304,846 | 7,004,846 | – | – | PDF p. 97 |
| Loans due from a subsidiary$ | – | – | – | 3,840,652 | PDF p. 97 |
| Subtotal$ | 2,009,987 | 8,032,829 | – | 4,311,692 | PDF p. 97 |
| Current assets | |||||
| Inventories$ | 87,225 | 82,587 | – | – | PDF p. 97 |
| Trade and other receivables$ | 111,999 | 717,491 | 12,591 | 2,034,452 | PDF p. 97 |
| Prepayment$ | 39,520 | 31,830 | 9,267 | 3,400 | PDF p. 97 |
| Cash and cash equivalents$ | 7,859,931 | 8,101,284 | 7,699,250 | 7,903,522 | PDF p. 97 |
| Subtotal$ | 8,098,675 | 8,933,192 | 7,721,108 | 9,941,374 | PDF p. 97 |
| Assets | |||||
| Total assets$ | 10,108,662 | 16,966,021 | 7,721,108 | 14,253,066 | PDF p. 97 |
| Current liabilities | |||||
| Trade payables$ | 27,530 | 47,815 | – | – | PDF p. 97 |
| Other payables and accruals$ | 393,122 | 519,395 | 144,970 | 209,433 | PDF p. 97 |
| Lease liabilities$ | 187,329 | 287,971 | – | – | PDF p. 97 |
| Subtotal$ | 607,981 | 855,181 | 144,970 | 209,433 | PDF p. 97 |
| Net current assets$ | 7,490,694 | 8,078,011 | 7,576,138 | 9,731,941 | PDF p. 97 |
| Non-current liabilities | |||||
| Lease liabilities$ | 98,299 | 239,113 | – | – | PDF p. 97 |
| Liabilities | |||||
| Total liabilities$ | 706,280 | 1,094,294 | 144,970 | 209,433 | PDF p. 97 |
| Net assets | |||||
| Net assets$ | 9,402,382 | 15,871,727 | 7,576,138 | 14,043,633 | PDF p. 97 |
| Equity attributable to equity holders of the Company | |||||
| Share capital$ | 21,333,219 | 21,333,219 | 21,333,219 | 21,333,219 | PDF p. 97 |
| Capital reserve$ | 227,730 | 227,730 | 227,730 | 227,730 | PDF p. 97 |
| Revenue reserve$ | (12,158,567) | (5,689,222) | (13,984,811) | (7,517,316) | PDF p. 97 |
| Total equity$ | 9,402,382 | 15,871,727 | 7,576,138 | 14,043,633 | PDF p. 97 |
| Total equity and liabilities$ | 10,108,662 | 16,966,021 | 7,721,108 | 14,253,066 | PDF p. 97 |
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Definitions & sources
Original report: PDF p. 97 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Consolidated Statement of Comprehensive Income (Group)
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income | |||
| Revenue$ | 2,320,411 | 2,521,438 | PDF p. 96 |
| Cost of sales$ | (1,721,061) | (1,827,588) | PDF p. 96 |
| Gross profit$ | 599,350 | 693,850 | PDF p. 96 |
| Other operating income$ | 247,412 | 402,476 | PDF p. 96 |
| Administrative expenses$ | (1,600,331) | (1,661,388) | PDF p. 96 |
| Other expenses$ | (5,700,000) | (1,400,000) | PDF p. 96 |
| Finance expenses$ | (15,776) | (10,903) | PDF p. 96 |
| Loss before tax$ | (6,469,345) | (1,975,965) | PDF p. 96 |
| Income tax$ | – | – | PDF p. 96 |
| Loss for the year, representing total comprehensive income attributable to owners of the Group$ | (6,469,345) | (1,975,965) | PDF p. 96 |
| Loss per share | |||
| Basic$ cents | (4.43) | (1.35) | PDF p. 96 |
| Diluted$ cents | (4.43) | (1.35) | PDF p. 96 |
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Definitions & sources
Original report: PDF p. 96 ↗
Loss per share is in $ cents. No separate other comprehensive income items are printed; loss for the year represents total comprehensive income.
Statements of Changes in Equity - Group
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group - Share capital (Note 19a) | 2025Group - Capital reserve (Note 19b) | 2025Group - Revenue reserve | 2025Group - Total equity | Source |
|---|---|---|---|---|---|
| Group (FY2024 movements) | |||||
| Balance at 1 January 2024$ | 21,333,219 | 227,730 | (3,713,257) | 17,847,692 | PDF p. 98 |
| Loss for the year, representing total comprehensive income for the year$ | – | – | (1,975,965) | (1,975,965) | PDF p. 98 |
| Total comprehensive income for the year$ | – | – | (1,975,965) | (1,975,965) | PDF p. 98 |
| Group | |||||
| Balance at 31 December 2024 and 1 January 2025$ | 21,333,219 | 227,730 | (5,689,222) | 15,871,727 | PDF p. 98 |
| Group (FY2025 movements) | |||||
| Loss for the year, representing total comprehensive income for the year$ | – | – | (6,469,345) | (6,469,345) | PDF p. 98 |
| Total comprehensive income for the year$ | – | – | (6,469,345) | (6,469,345) | PDF p. 98 |
| Group | |||||
| Balance at 31 December 2025$ | 21,333,219 | 227,730 | (12,158,567) | 9,402,382 | PDF p. 98 |
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Definitions & sources
Original report: PDF p. 98 ↗
Column year 2025 denotes the statement's year; rows cover FY2024 movements (opening 1 Jan 2024 to 31 Dec 2024) and FY2025 movements as labelled in section. No non-controlling interests are printed.
Statements of Changes in Equity - Company
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company - Share capital (Note 19a) | 2025Company - Capital reserve (Note 19b) | 2025Company - Revenue reserve | 2025Company - Total equity | Source |
|---|---|---|---|---|---|
| Company (FY2024 movements) | |||||
| Balance at 1 January 2024$ | 21,333,219 | 227,730 | (3,819,930) | 17,741,019 | PDF p. 98 |
| Loss for the year, representing total comprehensive income for the year$ | – | – | (3,697,386) | (3,697,386) | PDF p. 98 |
| Total comprehensive income for the year$ | – | – | (3,697,386) | (3,697,386) | PDF p. 98 |
| Company | |||||
| Balance at 31 December 2024 and 1 January 2025$ | 21,333,219 | 227,730 | (7,517,316) | 14,043,633 | PDF p. 98 |
| Company (FY2025 movements) | |||||
| Loss for the year, representing total comprehensive income for the year$ | – | – | (6,467,495) | (6,467,495) | PDF p. 98 |
| Total comprehensive income for the year$ | – | – | (6,467,495) | (6,467,495) | PDF p. 98 |
| Company | |||||
| Balance at 31 December 2025$ | 21,333,219 | 227,730 | (13,984,811) | 7,576,138 | PDF p. 98 |
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Definitions & sources
Original report: PDF p. 98 ↗
Column year 2025 denotes the statement's year; rows cover FY2024 and FY2025 movements as labelled in section.
Consolidated Statement of Cash Flows (Group)
26 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Loss before tax$ | (6,469,345) | (1,975,965) | PDF p. 99 |
| Operating activities - Adjustments | |||
| Depreciation of plant and equipment$ | 101,671 | 58,864 | PDF p. 99 |
| Depreciation of right-of-use assets$ | 286,755 | 277,079 | PDF p. 99 |
| Loss on disposal of plant and equipment$ | 711 | 13,642 | PDF p. 99 |
| Allowance for goodwill impairment loss$ | 5,700,000 | 1,400,000 | PDF p. 99 |
| Government grants$ | (32,312) | (18,254) | PDF p. 99 |
| Interest income$ | (190,250) | (311,162) | PDF p. 99 |
| Interest expenses$ | 15,776 | 10,903 | PDF p. 99 |
| Unrealised exchange loss/(gain)$ | 824 | (471) | PDF p. 99 |
| Operating activities | |||
| Operating cash flows before working capital changes$ | (586,170) | (545,364) | PDF p. 99 |
| (Increase)/decrease in inventories$ | (4,638) | 19,821 | PDF p. 99 |
| Decrease in trade and other receivables$ | 567,794 | 146,293 | PDF p. 99 |
| Increase in prepayments$ | (7,690) | (4,653) | PDF p. 99 |
| Decrease in trade and other payables$ | (146,558) | (15,408) | PDF p. 99 |
| Cash used in operations$ | (177,262) | (399,311) | PDF p. 99 |
| Interest received$ | 260,260 | 228,561 | PDF p. 99 |
| Net cash flows generated from/(used in) operating activities$ | 82,998 | (170,750) | PDF p. 99 |
| Investing activity | |||
| Purchase of plant and equipment$ | (10,843) | (469,169) | PDF p. 99 |
| Net cash flows used in investing activity$ | (10,843) | (469,169) | PDF p. 99 |
| Financing activities | |||
| Payment of principal portion of lease liabilities$ | (296,908) | (258,543) | PDF p. 99 |
| Interest paid$ | (15,776) | (10,903) | PDF p. 99 |
| Net cash flows used in financing activities$ | (312,684) | (269,446) | PDF p. 99 |
| Cash | |||
| Net decrease in cash and cash equivalents$ | (240,529) | (909,365) | PDF p. 99 |
| Cash and cash equivalents at beginning of year$ | 8,101,284 | 9,010,178 | PDF p. 99 |
| Effect of exchange rate changes on cash and cash equivalent$ | (824) | 471 | PDF p. 99 |
| Cash and cash equivalents at end of year$ | 7,859,931 | 8,101,284 | PDF p. 99 |
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Definitions & sources
Original report: PDF p. 99 ↗
Only a consolidated (Group) cash flow statement is printed; no Company cash flow statement.
Loss per share (Group) – consolidated statement of comprehensive income
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $ cents | 2024Group, $ cents | Source |
|---|---|---|---|
| Loss per share (in $ cents) | |||
| Basic$ cents | (4.43) | (1.35) | PDF p. 96 |
| Diluted$ cents | (4.43) | (1.35) | PDF p. 96 |
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Definitions & sources
Original report: PDF p. 96 ↗
Note reference 11. No dividend per share presented.
Note 11 Loss per share – Group
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Loss per share | |||
| Weighted average number of ordinary shares for basic loss per share computation (’000)'000 shares | 146,146 | 146,146 | PDF p. 117 |
| Loss per share (in $ cents)$ cents | (4.43) | (1.35) | PDF p. 117 |
| Diluted loss per share (in $ cents)$ cents | (4.43) | (1.35) | PDF p. 117 |
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Definitions & sources
Original report: PDF p. 117 ↗
Basic loss per share is calculated by dividing loss for the year attributable to owners of the Company by the weighted average number of ordinary shares outstanding during the financial year.
The weighted average number of ordinary shares for diluted loss per share computation (’000) is also 146,146 (2025) and 146,146 (2024); that row's label wraps across two lines so it is not given as a separate row.
Where the money comes from
Segment information
By business
Revenue (disaggregation by type; single operating segment in Singapore) 3 lines
| Item / unit | 2025$ | 2024$ | Source |
|---|---|---|---|
| Revenue | |||
| Veterinary services$ | 1,186,886 | 1,174,983 | PDF p. 113 |
| Sales of veterinary medicines and products$ | 1,133,525 | 1,346,455 | PDF p. 113 |
| Total revenue recognised at point in time$ | 2,320,411 | 2,521,438 | PDF p. 113 |
Notes
The revenues are all generated from a single operating segment in Singapore.
This represents revenue from rendering of veterinary services and sales of veterinary medicines and products.
Debt
Borrowings
Lease liabilities contractual maturity, Group
| Item / unit | 2025Group carrying amount | 2025Group contractual cash flows | 2025Group one year or less | 2025Group more than one year | 2024Group carrying amount | 2024Group contractual cash flows | 2024Group one year or less | 2024Group more than one year | Source |
|---|---|---|---|---|---|---|---|---|---|
| Financial liabilities | |||||||||
| Lease liabilities (Note 21)$ | 285,628 | 293,870 | 194,237 | 99,633 | 527,084 | 548,954 | 303,084 | 245,870 | PDF p. 127PDF p. 128 |
Notes
Based on contractual undiscounted repayment obligations.
Borrowing notes 2 tables
Lease liabilities current/non-current (Group balance sheet)
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Current liabilities | |||||
| Lease liabilities$ | 187,329 | 287,971 | – | – | PDF p. 97 |
| Non-current liabilities | |||||
| Lease liabilities$ | 98,299 | 239,113 | – | – | PDF p. 97 |
Notes
No bank borrowings or other interest-bearing loans are shown on the balance sheet; only lease liabilities.
Lease liabilities movement (Note 21)
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Lease liabilities | |||
| At 1 January$ | 527,084 | 150,463 | PDF p. 124 |
| Additions$ | 55,452 | 635,164 | PDF p. 124 |
| Accretion of interest$ | 15,776 | 10,903 | PDF p. 124 |
| Payments | |||
| – Principal$ | (296,908) | (258,543) | PDF p. 124 |
| – Interest$ | (15,776) | (10,903) | PDF p. 124 |
| Lease liabilities | |||
| At 31 December$ | 285,628 | 527,084 | PDF p. 124 |
| Current$ | 187,329 | 287,971 | PDF p. 124 |
| Non-current$ | 98,299 | 239,113 | PDF p. 124 |
Notes
Reconciliation of liability arising from the Group's financing activity.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | The Company, however, does not currently have a policy on payment of dividends as the form, frequency and amount of dividends will depend on the Company’s earnings, general financial condition, results of operations, capital requirements, cash flow, general business conditions, development plans and other factors as the Board may deem appropriate. | Company FY2025 | PDF p. 81 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend declared for FY2025 | The Company has not declared any dividend for FY2025 as the Board deems it appropriate to conserve cash for the Group’s business activities and growth. | Company FY2025 | PDF p. 81 |
Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | Ernst & Young LLP | Group | PDF p. 95 |
| Engagement partner | Teo Li Ling | Group | PDF p. 95 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)”) so as to give a true and fair view | Group and Company | PDF p. 91 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment assessment of goodwill and cost of investment in a subsidiary | Due to the significance of judgement exercised in identifying indicators of impairment, forecasting and discounting future cash flows, the heighted level of estimation uncertainty associated with current economic conditions, we have considered the impairment assessment of goodwill and the cost of investment in the subsidiary to be a key audit matter. | Group and Company | PDF p. 92 |
Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow ANNUAL REPORT 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.