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<ReportingInfo version="1.0">
	<fromDate>2026-01-01</fromDate>
	<toDate>2026-06-30</toDate>
	<createDate>2026-08-28</createDate>
	<personName>Велграф Асет Мениджмънт АД</personName>
	<persontype>Публично дружество</persontype>
	<eik>201079376</eik>
	<represents>Румен Горанов Цонков</represents>
	<representsType>Самостоятелно</representsType>
	<addressMain>гр. София, бул. Брюксел 1</addressMain>
	<addressCorrespondence>гр.София, ул. Стефан Караджа 2</addressCorrespondence>
	<telephone>02-980-32-58</telephone>
	<email>r.tsonkov@gmail.com</email>
	<website>www.velgraf.com</website>
	<media>infostok.bg</media>
	<creator>Сателит Х АД</creator>
	<position>счетоводна къща</position>
	<balance>
		<current>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<machines>3</machines>
						<others>511</others>
					</propertiesEquipment>
					<investProperties>52951</investProperties>
					<intangibleAssets/>
					<commercialReputation>
						<positive>20384</positive>
					</commercialReputation>
					<finAssets>
						<investIn/>
						<heldToMaturity/>
					</finAssets>
					<tradeReceivables/>
					<deferredTaxAssets>585</deferredTaxAssets>
				</nonCurrentAssets>
				<currentAssets>
					<inventories/>
					<tradeReceivables>
						<receivablesAffiliatedCompanies>1050</receivablesAffiliatedCompanies>
						<receivablesCustomersSuppliers>9059</receivablesCustomersSuppliers>
						<advancesGranted>7150</advancesGranted>
						<taxRecovery>27</taxRecovery>
						<others>234</others>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading>
							<others>2641</others>
						</finAssetsKeptForTrading>
						<others>19638</others>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsCash>103</finAssetsCash>
					</cashAndCashEquivalents>
					<futureExpenses>198</futureExpenses>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>35180</registeredContributedCapital>
					</capitalStock>
					<reserves>
						<premReserves>19089</premReserves>
						<targetReserve>
							<generalReserves>5852</generalReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<uncoveredLoss>-564</uncoveredLoss>
						</accumulatedProfit>
						<currentProfit>369</currentProfit>
					</finResult>
				</equity>
				<minorityParticipation>779</minorityParticipation>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<receivedLoansBanksNonBanks>10479</receivedLoansBanksNonBanks>
						<bondLoans>7500</bondLoans>
						<others>765</others>
					</commercialOtherObligations>
					<deferredTaxLiabilities>1252</deferredTaxLiabilities>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>27206</liabilitiesLoansBankNonBank>
						<currentPartNonCurrentLiabilities>4988</currentPartNonCurrentLiabilities>
						<currentObligations>
							<obligationsSuppliersCustomers>905</obligationsSuppliersCustomers>
							<dutiesStaff>2</dutiesStaff>
							<obligationsInsuranceCompanies>9</obligationsInsuranceCompanies>
							<taxObligations>325</taxObligations>
						</currentObligations>
						<others>183</others>
					</commercialOtherObligations>
					<futureIncome>215</futureIncome>
				</currentLiabilities>
			</passives>
		</current>
		<previous>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<machines>7</machines>
						<facilities>2</facilities>
						<others>38</others>
					</propertiesEquipment>
					<investProperties>53161</investProperties>
					<intangibleAssets/>
					<commercialReputation>
						<positive>20384</positive>
					</commercialReputation>
					<finAssets>
						<investIn/>
						<heldToMaturity/>
					</finAssets>
					<tradeReceivables/>
					<deferredTaxAssets>585</deferredTaxAssets>
				</nonCurrentAssets>
				<currentAssets>
					<inventories/>
					<tradeReceivables>
						<receivablesAffiliatedCompanies>1205</receivablesAffiliatedCompanies>
						<receivablesCustomersSuppliers>9026</receivablesCustomersSuppliers>
						<advancesGranted>10275</advancesGranted>
						<taxRecovery>15</taxRecovery>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading>
							<others>2614</others>
						</finAssetsKeptForTrading>
						<others>20559</others>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsCash>108</finAssetsCash>
					</cashAndCashEquivalents>
					<futureExpenses>159</futureExpenses>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>35180</registeredContributedCapital>
					</capitalStock>
					<reserves>
						<premReserves>19089</premReserves>
						<targetReserve>
							<generalReserves>5852</generalReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<uncoveredLoss>-736</uncoveredLoss>
						</accumulatedProfit>
						<currentProfit>172</currentProfit>
					</finResult>
				</equity>
				<minorityParticipation>779</minorityParticipation>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<receivedLoansBanksNonBanks>11269</receivedLoansBanksNonBanks>
						<bondLoans>9953</bondLoans>
						<others>319</others>
					</commercialOtherObligations>
					<deferredTaxLiabilities>1252</deferredTaxLiabilities>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>27237</liabilitiesLoansBankNonBank>
						<currentPartNonCurrentLiabilities>5264</currentPartNonCurrentLiabilities>
						<currentObligations>
							<obligationsSuppliersCustomers>1572</obligationsSuppliersCustomers>
							<dutiesStaff>10</dutiesStaff>
							<obligationsInsuranceCompanies>14</obligationsInsuranceCompanies>
							<taxObligations>294</taxObligations>
						</currentObligations>
						<others>167</others>
					</commercialOtherObligations>
					<futureIncome>451</futureIncome>
				</currentLiabilities>
			</passives>
		</previous>
	</balance>
	<incomes>
		<current>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costOfMaterials>9</costOfMaterials>
						<costsForExternalServices>345</costsForExternalServices>
						<depreciationExpenses>242</depreciationExpenses>
						<remunerationExpenses>195</remunerationExpenses>
						<insuranceCosts>26</insuranceCosts>
						<others>209</others>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>788</interestExpense>
						<negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>42</negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>
						<others>51</others>
					</financialCosts>
				</activityCosts>
				<activityProfit/>
				<profitBeforeTaxes/>
				<profitAfterTaxes/>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales>
						<services>1815</services>
					</netRevenueFromSales>
					<financialIncome>
						<interestIncome>429</interestIncome>
						<positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>32</positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>
					</financialIncome>
				</activityIncome>
				<activityLoss/>
				<lossAfterTax/>
			</income>
		</current>
		<previous>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costOfMaterials>8</costOfMaterials>
						<costsForExternalServices>373</costsForExternalServices>
						<depreciationExpenses>230</depreciationExpenses>
						<remunerationExpenses>137</remunerationExpenses>
						<insuranceCosts>24</insuranceCosts>
						<others>153</others>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>1011</interestExpense>
						<negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>43</negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>
						<others>40</others>
					</financialCosts>
				</activityCosts>
				<activityProfit/>
				<profitBeforeTaxes/>
				<profitAfterTaxes/>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales>
						<services>1826</services>
						<others>29</others>
					</netRevenueFromSales>
					<financialIncome>
						<interestIncome>476</interestIncome>
						<positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>10</positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>
					</financialIncome>
				</activityIncome>
				<activityLoss/>
				<lossAfterTax/>
			</income>
		</previous>
	</incomes>
	<cashFlows>
		<current>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>5844</receiptsFromCustomers>
				<paymentsToSuppliers>-1188</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-209</paymentsRelatedToRemuneration>
				<taxesPaidRefunded>-419</taxesPaidRefunded>
				<corporateIncomeTaxesPaid>-12</corporateIncomeTaxesPaid>
				<otherReceiptsPaymentsFromOperationalActivity>-92</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity>
				<reimbursedGrantedLoans>478</reimbursedGrantedLoans>
				<receivedInterestOnLoansGranted>704</receivedInterestOnLoansGranted>
				<purchaseOfInvestments>-596</purchaseOfInvestments>
				<proceedsFromSaleOfInvestments>214</proceedsFromSaleOfInvestments>
			</cashFlowsFromInvestmentActivity>
			<cashFlowsFromFinancialActivity>
				<loansPaid>-3318</loansPaid>
				<paidObligationsUnderLeasingContracts>-6</paidObligationsUnderLeasingContracts>
				<paidInterestFeesCommissionsOnLoansForInvestmentPurposes>-1391</paidInterestFeesCommissionsOnLoansForInvestmentPurposes>
				<otherReceiptsPaymentsFromFinancialActivity>-13</otherReceiptsPaymentsFromFinancialActivity>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>107</cashFlowsPeriodStart>
			<cashFlowsPeriodEnd>
				<availabilityInCashAndBank>103</availabilityInCashAndBank>
			</cashFlowsPeriodEnd>
		</current>
		<previous>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>2955</receiptsFromCustomers>
				<paymentsToSuppliers>-718</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-157</paymentsRelatedToRemuneration>
				<taxesPaidRefunded>-598</taxesPaidRefunded>
				<corporateIncomeTaxesPaid>-12</corporateIncomeTaxesPaid>
				<otherReceiptsPaymentsFromOperationalActivity>18</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity>
				<purchaseOfFixedAssets>-91</purchaseOfFixedAssets>
				<loansGranted>-15</loansGranted>
				<reimbursedGrantedLoans>9</reimbursedGrantedLoans>
				<receivedInterestOnLoansGranted>71</receivedInterestOnLoansGranted>
				<purchaseOfInvestments>-204</purchaseOfInvestments>
				<proceedsFromSaleOfInvestments>2997</proceedsFromSaleOfInvestments>
			</cashFlowsFromInvestmentActivity>
			<cashFlowsFromFinancialActivity>
				<proceedsFromLoans>23</proceedsFromLoans>
				<loansPaid>-3256</loansPaid>
				<paidObligationsUnderLeasingContracts>-2</paidObligationsUnderLeasingContracts>
				<paidInterestFeesCommissionsOnLoansForInvestmentPurposes>-1088</paidInterestFeesCommissionsOnLoansForInvestmentPurposes>
				<otherReceiptsPaymentsFromFinancialActivity>17</otherReceiptsPaymentsFromFinancialActivity>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>144</cashFlowsPeriodStart>
			<cashFlowsPeriodEnd>
				<availabilityInCashAndBank>93</availabilityInCashAndBank>
			</cashFlowsPeriodEnd>
		</previous>
	</cashFlows>
	<capital>
		<capitalStock>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</capitalStock>
		<premiumReserve>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</premiumReserve>
		<reserveFromSubsequentValuations>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</reserveFromSubsequentValuations>
		<generalTargetReserves>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</generalTargetReserves>
		<specializedTargetReserves>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</specializedTargetReserves>
		<otherTargetReserves>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</otherTargetReserves>
		<accumulatedProfit>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</accumulatedProfit>
		<accumulatedLoss>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</accumulatedLoss>
		<transReserve>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</transReserve>
		<minorityParticipation>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</minorityParticipation>
	</capital>
</ReportingInfo>