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	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	6.61	7.72	24.74	6.44	6.62	6.19
Short-Term Investments	-	7.57	8.7	13	12.23	17.55
Trading Asset Securities	20.18	19.8	19.08	17.03	15.3	18.85
Cash & Short-Term Investments	26.79	35.08	52.52	36.47	34.15	42.59
Cash Growth	-4.44%	-33.20%	43.99%	6.80%	-19.82%	4.09%
Accounts Receivable	4.72	3.7	9.74	12.82	13.17	18.67
Other Receivables	0.98	0.7	0.33	0.11	0.69	-0.36
Receivables	12.79	4.4	10.07	12.94	13.86	18.32
Inventory	7.05	7.5	10.24	7.93	5.09	1.4
Prepaid Expenses	-	0.67	0.77	-	-	-
Other Current Assets	1.31	0.66	0.71	1.44	7.86	8.98
Total Current Assets	47.95	48.3	74.3	58.79	60.96	71.28
Property, Plant & Equipment	116.89	116.82	108.38	106.46	107.32	108.81
Long-Term Investments	1.98	15.51	14.65	13.37	12.7	8.8
Goodwill	18.76	18.77	18.81	18.91	18.91	19.5
Other Intangible Assets	10.71	10.63	10.26	9.8	9.46	9.18
Long-Term Accounts Receivable	-	0	-	-	-	-
Long-Term Deferred Tax Assets	1.64	1.43	1.64	1.72	1.55	1.39
Other Long-Term Assets	24.34	23.18	20.66	22.12	22.2	19.7
Total Assets	234.43	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	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	11.27	3.63	4.6	5.12	4.54	3.39
Accrued Expenses	1.85	2.74	2.56	2.23	2.14	1.76
Short-Term Debt	-	0.28	0.16	4.2	11.36	11.8
Current Portion of Long-Term Debt	47.25	35.54	33.84	31.72	28.44	32.43
Current Portion of Leases	-	0.81	0.19	0.47	0.78	0.76
Current Income Taxes Payable	1.28	0.16	0.17	0.17	0.11	0.16
Current Unearned Revenue	-	-	-	0.34	0.28	0.41
Other Current Liabilities	1.94	8.92	25.6	1.88	1.84	1.76
Total Current Liabilities	63.58	52.07	67.12	46.13	49.48	52.48
Long-Term Debt	42.38	53.77	62.69	68.49	67.94	70.4
Long-Term Leases	-	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	2.25	2.03	1.54	1.76	1.44	1.25
Other Long-Term Liabilities	5.42	1.87	0.75	0.75	0	-
Total Liabilities	113.63	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	Mar 31, 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	80.18	-	-	-	-	80.19
Retained Earnings	13.29	12.4	7.59	8.27	7.8	8.84
Comprehensive Income & Other	2.99	84.76	84.95	84.48	84.34	2.13
Total Common Equity	99.77	100.48	95.87	96.06	95.45	94.48
Minority Interest	21.04	21.35	20.27	17.65	18.08	18.81
Shareholders' Equity	120.81	121.82	116.14	113.72	113.53	113.29
Total Liabilities & Equity	234.43	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	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	89.62	93.25	97.13	105.05	109.11	116.5
Net Cash (Debt)	-62.84	-58.17	-44.62	-68.58	-74.96	-73.91
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-	-8.97	-6.88	-10.57	-11.56	-11.40
Filing Date Shares Outstanding	-	6.49	6.49	6.49	6.49	6.49
Total Common Shares Outstanding	-	6.49	6.49	6.49	6.49	6.49
Working Capital	-15.64	-3.77	7.18	12.66	11.48	18.8
Book Value Per Share	-	15.49	14.78	14.81	14.72	14.57
Tangible Book Value	70.3	71.08	66.79	67.35	67.08	65.81
Tangible Book Value Per Share	-	10.96	10.30	10.38	10.34	10.15
Land	-	23.17	23.22	23.1	23.12	23.42
Buildings	-	60.08	60.27	57.79	54.1	54.3
Machinery	-	54.15	53.57	51.93	47.29	46.71

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 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:

Jul 29, 2026

Data Sources Report a data error