Holding Varna AD (BUL:HVAR)

Holding Varna AD Balance Sheet

Financials in millions EUR. Fiscal year is January - December.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	1.99	7.72	24.74	6.44	6.62	6.19
Short-Term Investments	5.95	7.57	8.7	13	12.23	17.55
Trading Asset Securities	-	19.8	19.08	17.03	15.3	18.85
Cash & Short-Term Investments	7.94	35.08	52.52	36.47	34.15	42.59
Cash Growth	-76.09%	-33.20%	43.99%	6.80%	-19.82%	4.09%
Accounts Receivable	1.4	3.7	9.74	12.82	13.17	18.67
Other Receivables	-	0.7	0.33	0.11	0.69	-0.36
Receivables	13.45	4.4	10.07	12.94	13.86	18.32
Inventory	-	7.5	10.24	7.93	5.09	1.4
Prepaid Expenses	-	0.67	0.77	-	-	-
Other Current Assets	-	0.66	0.71	1.44	7.86	8.98
Total Current Assets	21.39	48.3	74.3	58.79	60.96	71.28
Property, Plant & Equipment	28.09	116.82	108.38	106.46	107.32	108.81
Long-Term Investments	65.39	15.51	14.65	13.37	12.7	8.8
Goodwill	-	18.77	18.81	18.91	18.91	19.5
Other Intangible Assets	0	10.63	10.26	9.8	9.46	9.18
Long-Term Accounts Receivable	-	0	-	-	-	-
Long-Term Deferred Tax Assets	0.13	1.43	1.64	1.72	1.55	1.39
Other Long-Term Assets	2.16	23.18	20.66	22.12	22.2	19.7
Total Assets	141.66	234.64	248.7	231.16	233.09	238.65

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	0.64	3.63	4.6	5.12	4.54	3.39
Accrued Expenses	0.03	2.74	2.56	2.23	2.14	1.76
Short-Term Debt	6.38	0.28	0.16	4.2	11.36	11.8
Current Portion of Long-Term Debt	9.56	35.54	33.84	31.72	28.44	32.43
Current Portion of Leases	0.03	0.81	0.19	0.47	0.78	0.76
Current Income Taxes Payable	-	0.16	0.17	0.17	0.11	0.16
Current Unearned Revenue	-	-	-	0.34	0.28	0.41
Other Current Liabilities	-	8.92	25.6	1.88	1.84	1.76
Total Current Liabilities	16.64	52.07	67.12	46.13	49.48	52.48
Long-Term Debt	15.68	53.77	62.69	68.49	67.94	70.4
Long-Term Leases	0.02	2.85	0.27	0.17	0.58	1.11
Pension & Post-Retirement Benefits	-	0.23	0.19	0.15	0.11	0.12
Long-Term Deferred Tax Liabilities	-	2.03	1.54	1.76	1.44	1.25
Other Long-Term Liabilities	0.19	1.87	0.75	0.75	0	-
Total Liabilities	32.53	112.81	132.56	117.45	119.57	125.36

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	3.31	3.32	3.32	3.32	3.32	3.32
Additional Paid-In Capital	-	-	-	-	-	80.19
Retained Earnings	25.06	12.4	7.59	8.27	7.8	8.84
Comprehensive Income & Other	80.76	84.76	84.95	84.48	84.34	2.13
Total Common Equity	109.13	100.48	95.87	96.06	95.45	94.48
Minority Interest	-	21.35	20.27	17.65	18.08	18.81
Shareholders' Equity	109.13	121.82	116.14	113.72	113.53	113.29
Total Liabilities & Equity	141.66	234.64	248.7	231.16	233.09	238.65

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	31.67	93.25	97.13	105.05	109.11	116.5
Net Cash (Debt)	-23.73	-58.17	-44.62	-68.58	-74.96	-73.91
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-3.66	-8.97	-6.88	-10.57	-11.56	-11.40
Filing Date Shares Outstanding	6.49	6.49	6.49	6.49	6.49	6.49
Total Common Shares Outstanding	6.49	6.49	6.49	6.49	6.49	6.49
Working Capital	4.75	-3.77	7.18	12.66	11.48	18.8
Book Value Per Share	16.83	15.49	14.78	14.81	14.72	14.57
Tangible Book Value	109.13	71.08	66.79	67.35	67.08	65.81
Tangible Book Value Per Share	16.83	10.96	10.30	10.38	10.34	10.15
Land	8.76	23.17	23.22	23.1	23.12	23.42
Buildings	-	60.08	60.27	57.79	54.1	54.3
Machinery	0.17	54.15	53.57	51.93	47.29	46.71

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 24, 2026

Data Sources Report a data error