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<ReportingInfo version="1.0">
	<fromDate>2026-01-01</fromDate>
	<toDate>2026-03-31</toDate>
	<createDate>2026-05-27</createDate>
	<personName>ХОЛДИНГ ВАРНА АД</personName>
	<persontype>Публично дружество/Емитент на облигации</persontype>
	<eik>103249584</eik>
	<represents>Ивелина Шабан и Милчо Близнаков</represents>
	<representsType>заедно</representsType>
	<addressMain>гр. Варна, к.к. "Св. Св. Константин и Елена", адм. сграда</addressMain>
	<addressCorrespondence>гр. Варна, к.к. "Св. Св. Константин и Елена", адм. сграда</addressCorrespondence>
	<telephone>+359 52 663 765</telephone>
	<email>office@holdingvarna.com</email>
	<website>www.holdingvarna.com</website>
	<media>https://www.infostock.bg/infostock/control/search?ticker=HVAR</media>
	<creator>Ирина Р. Маркова-Гюрова</creator>
	<position>гл. счетоводител</position>
	<balance>
		<current>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<lands>23164</lands>
						<buildings>50696</buildings>
						<machines>20812</machines>
						<vehicles>37</vehicles>
						<businessInventory>4129</businessInventory>
						<acqLiqTangibleAssets>14682</acqLiqTangibleAssets>
						<others>3368</others>
					</propertiesEquipment>
					<investProperties>22978</investProperties>
					<intangibleAssets>
						<propertyRights>5319</propertyRights>
						<softwareProducts>45</softwareProducts>
						<others>5350</others>
					</intangibleAssets>
					<commercialReputation>
						<positive>18758</positive>
					</commercialReputation>
					<finAssets>
						<investIn>
							<associatedEnterprises>202</associatedEnterprises>
						</investIn>
						<heldToMaturity/>
						<others>1773</others>
					</finAssets>
					<tradeReceivables>
						<affiliatedCompanies>12704</affiliatedCompanies>
						<others>834</others>
					</tradeReceivables>
					<deferredTaxAssets>1637</deferredTaxAssets>
				</nonCurrentAssets>
				<currentAssets>
					<inventories>
						<materials>659</materials>
						<production>6166</production>
						<goods>36</goods>
						<workInProgress>193</workInProgress>
					</inventories>
					<tradeReceivables>
						<receivablesAffiliatedCompanies>876</receivablesAffiliatedCompanies>
						<receivablesCustomersSuppliers>3844</receivablesCustomersSuppliers>
						<advancesGranted>1310</advancesGranted>
						<receivablesGrantedCommercialLoans>7098</receivablesGrantedCommercialLoans>
						<litigationClaims>95</litigationClaims>
						<taxRecovery>880</taxRecovery>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading>
							<others>20178</others>
						</finAssetsKeptForTrading>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsTimeDeposits>6610</finAssetsTimeDeposits>
					</cashAndCashEquivalents>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>3308</registeredContributedCapital>
					</capitalStock>
					<reserves>
						<premReserves>80179</premReserves>
						<targetReserve>
							<generalReserves>1350</generalReserves>
							<otherReserves>2992</otherReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<retainedEarnings>12602</retainedEarnings>
						</accumulatedProfit>
						<currentProfit>-662</currentProfit>
					</finResult>
				</equity>
				<minorityParticipation>21038</minorityParticipation>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<receivedLoansBanksNonBanks>26545</receivedLoansBanksNonBanks>
						<commercialLoans>210</commercialLoans>
						<bondLoans>15620</bondLoans>
						<others>5419</others>
					</commercialOtherObligations>
					<deferredTaxLiabilities>2249</deferredTaxLiabilities>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>27040</liabilitiesLoansBankNonBank>
						<currentPartNonCurrentLiabilities>2624</currentPartNonCurrentLiabilities>
						<currentObligations>
							<obligationsRelatedEnterprises>113</obligationsRelatedEnterprises>
							<obligationsReceivedCommercialLoans>17585</obligationsReceivedCommercialLoans>
							<obligationsSuppliersCustomers>11273</obligationsSuppliersCustomers>
							<advancesReceived>1108</advancesReceived>
							<dutiesStaff>1848</dutiesStaff>
							<taxObligations>1278</taxObligations>
						</currentObligations>
						<others>714</others>
					</commercialOtherObligations>
				</currentLiabilities>
			</passives>
		</current>
		<previous>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<lands>23164</lands>
						<buildings>50918</buildings>
						<machines>20969</machines>
						<vehicles>41</vehicles>
						<businessInventory>4300</businessInventory>
						<acqLiqTangibleAssets>13836</acqLiqTangibleAssets>
						<others>3533</others>
					</propertiesEquipment>
					<investProperties>22978</investProperties>
					<intangibleAssets>
						<propertyRights>5209</propertyRights>
						<softwareProducts>55</softwareProducts>
						<others>5363</others>
					</intangibleAssets>
					<commercialReputation>
						<positive>18758</positive>
					</commercialReputation>
					<finAssets>
						<investIn>
							<associatedEnterprises>585</associatedEnterprises>
						</investIn>
						<heldToMaturity/>
						<others>1643</others>
					</finAssets>
					<tradeReceivables>
						<affiliatedCompanies>12643</affiliatedCompanies>
						<tradeLoans>636</tradeLoans>
						<others>191</others>
					</tradeReceivables>
					<deferredTaxAssets>1429</deferredTaxAssets>
				</nonCurrentAssets>
				<currentAssets>
					<inventories>
						<materials>501</materials>
						<production>6626</production>
						<goods>154</goods>
						<workInProgress>212</workInProgress>
					</inventories>
					<tradeReceivables>
						<receivablesAffiliatedCompanies>301</receivablesAffiliatedCompanies>
						<receivablesCustomersSuppliers>3700</receivablesCustomersSuppliers>
						<receivablesGrantedCommercialLoans>7425</receivablesGrantedCommercialLoans>
						<litigationClaims>109</litigationClaims>
						<taxRecovery>613</taxRecovery>
						<others>1134</others>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading>
							<others>19790</others>
						</finAssetsKeptForTrading>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsTimeDeposits>7712</finAssetsTimeDeposits>
					</cashAndCashEquivalents>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>3316</registeredContributedCapital>
					</capitalStock>
					<reserves>
						<premReserves>80179</premReserves>
						<targetReserve>
							<generalReserves>1350</generalReserves>
							<otherReserves>3195</otherReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<retainedEarnings>7580</retainedEarnings>
						</accumulatedProfit>
						<currentProfit>4812</currentProfit>
					</finResult>
				</equity>
				<minorityParticipation>21335</minorityParticipation>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<receivedLoansBanksNonBanks>37958</receivedLoansBanksNonBanks>
						<commercialLoans>162</commercialLoans>
						<bondLoans>15624</bondLoans>
						<others>4942</others>
					</commercialOtherObligations>
					<deferredTaxLiabilities>2028</deferredTaxLiabilities>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>17148</liabilitiesLoansBankNonBank>
						<currentPartNonCurrentLiabilities>2545</currentPartNonCurrentLiabilities>
						<currentObligations>
							<obligationsRelatedEnterprises>76</obligationsRelatedEnterprises>
							<obligationsReceivedCommercialLoans>15832</obligationsReceivedCommercialLoans>
							<obligationsSuppliersCustomers>5297</obligationsSuppliersCustomers>
							<advancesReceived>7150</advancesReceived>
							<dutiesStaff>2073</dutiesStaff>
							<taxObligations>822</taxObligations>
						</currentObligations>
						<others>1102</others>
					</commercialOtherObligations>
				</currentLiabilities>
			</passives>
		</previous>
	</balance>
	<incomes>
		<current>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costOfMaterials>851</costOfMaterials>
						<costsForExternalServices>2557</costsForExternalServices>
						<depreciationExpenses>913</depreciationExpenses>
						<remunerationExpenses>3108</remunerationExpenses>
						<insuranceCosts>512</insuranceCosts>
						<balanceValueOfSoldAssets>117</balanceValueOfSoldAssets>
						<changeInInventoriesOfProductionAndWorkInProgress>479</changeInInventoriesOfProductionAndWorkInProgress>
						<others>279</others>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>705</interestExpense>
						<negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>13</negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>
						<others>385</others>
					</financialCosts>
				</activityCosts>
				<activityProfit/>
				<profitBeforeTaxes>
					<expenseOfDeferredCorporateIncomeTaxes>14</expenseOfDeferredCorporateIncomeTaxes>
				</profitBeforeTaxes>
				<profitAfterTaxes/>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales>
						<goods>350</goods>
						<services>8038</services>
						<others>265</others>
					</netRevenueFromSales>
					<financialIncome>
						<interestIncome>120</interestIncome>
						<positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>163</positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>
						<others>38</others>
					</financialIncome>
				</activityIncome>
				<activityLoss/>
				<lossAfterTax>
					<forMinorityParticipation>297</forMinorityParticipation>
				</lossAfterTax>
			</income>
		</current>
		<previous>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costOfMaterials>927</costOfMaterials>
						<costsForExternalServices>2366</costsForExternalServices>
						<depreciationExpenses>759</depreciationExpenses>
						<remunerationExpenses>3052</remunerationExpenses>
						<insuranceCosts>490</insuranceCosts>
						<balanceValueOfSoldAssets>412</balanceValueOfSoldAssets>
						<changeInInventoriesOfProductionAndWorkInProgress>808</changeInInventoriesOfProductionAndWorkInProgress>
						<others>271</others>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>817</interestExpense>
						<negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>22</negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>
						<others>365</others>
					</financialCosts>
				</activityCosts>
				<activityProfit/>
				<profitBeforeTaxes>
					<expenseOfDeferredCorporateIncomeTaxes>13</expenseOfDeferredCorporateIncomeTaxes>
				</profitBeforeTaxes>
				<profitAfterTaxes/>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales>
						<goods>2628</goods>
						<services>6160</services>
						<others>110</others>
					</netRevenueFromSales>
					<financialIncome>
						<interestIncome>133</interestIncome>
						<positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>34</positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>
						<others>142</others>
					</financialIncome>
				</activityIncome>
				<activityLoss/>
				<lossAfterTax>
					<forMinorityParticipation>221</forMinorityParticipation>
				</lossAfterTax>
			</income>
		</previous>
	</incomes>
	<cashFlows>
		<current>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>10653</receiptsFromCustomers>
				<paymentsToSuppliers>-4943</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-3623</paymentsRelatedToRemuneration>
				<taxesPaidRefunded>-749</taxesPaidRefunded>
				<otherReceiptsPaymentsFromOperationalActivity>-219</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity>
				<purchaseOfFixedAssets>-1068</purchaseOfFixedAssets>
				<loansGranted>-4728</loansGranted>
				<reimbursedGrantedLoans>5080</reimbursedGrantedLoans>
				<receivedInterestOnLoansGranted>32</receivedInterestOnLoansGranted>
				<purchaseOfInvestments>-555</purchaseOfInvestments>
				<proceedsFromSaleOfInvestments>2142</proceedsFromSaleOfInvestments>
				<dividendsReceivedFromInvestments>7</dividendsReceivedFromInvestments>
				<otherReceiptsPaymentsFromInvestmentActivity>-20</otherReceiptsPaymentsFromInvestmentActivity>
			</cashFlowsFromInvestmentActivity>
			<cashFlowsFromFinancialActivity>
				<proceedsFromLoans>16731</proceedsFromLoans>
				<loansPaid>-18746</loansPaid>
				<paidObligationsUnderLeasingContracts>-248</paidObligationsUnderLeasingContracts>
				<paidInterestFeesCommissionsOnLoansForInvestmentPurposes>-833</paidInterestFeesCommissionsOnLoansForInvestmentPurposes>
				<otherReceiptsPaymentsFromFinancialActivity>-15</otherReceiptsPaymentsFromFinancialActivity>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>7712</cashFlowsPeriodStart>
			<cashFlowsPeriodEnd/>
		</current>
		<previous>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>16339</receiptsFromCustomers>
				<paymentsToSuppliers>-6230</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-3434</paymentsRelatedToRemuneration>
				<taxesPaidRefunded>-1008</taxesPaidRefunded>
				<otherReceiptsPaymentsFromOperationalActivity>-18162</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity>
				<purchaseOfFixedAssets>-2181</purchaseOfFixedAssets>
				<loansGranted>-6281</loansGranted>
				<reimbursedGrantedLoans>3768</reimbursedGrantedLoans>
				<receivedInterestOnLoansGranted>86</receivedInterestOnLoansGranted>
				<purchaseOfInvestments>-41</purchaseOfInvestments>
				<proceedsFromSaleOfInvestments>563</proceedsFromSaleOfInvestments>
				<dividendsReceivedFromInvestments>0</dividendsReceivedFromInvestments>
				<otherReceiptsPaymentsFromInvestmentActivity>-4</otherReceiptsPaymentsFromInvestmentActivity>
			</cashFlowsFromInvestmentActivity>
			<cashFlowsFromFinancialActivity>
				<proceedsFromLoans>19353</proceedsFromLoans>
				<loansPaid>-16840</loansPaid>
				<paidObligationsUnderLeasingContracts>-27</paidObligationsUnderLeasingContracts>
				<paidInterestFeesCommissionsOnLoansForInvestmentPurposes>-935</paidInterestFeesCommissionsOnLoansForInvestmentPurposes>
				<otherReceiptsPaymentsFromFinancialActivity>-830</otherReceiptsPaymentsFromFinancialActivity>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>24672</cashFlowsPeriodStart>
			<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/>
			<otherAmendments>-202</otherAmendments>
			<balanceAtTheBeginningOfTheReportingPeriod>3194</balanceAtTheBeginningOfTheReportingPeriod>
		</otherTargetReserves>
		<accumulatedProfit>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<otherAmendments>202</otherAmendments>
		</accumulatedProfit>
		<accumulatedLoss>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</accumulatedLoss>
		<transReserve>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</transReserve>
		<minorityParticipation>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<netProfitLossForThePeriod>-297</netProfitLossForThePeriod>
		</minorityParticipation>
	</capital>
</ReportingInfo>