<?xml version="1.0" encoding="UTF-8" standalone="yes"?>
<ReportingInfo version="1.0">
	<fromDate>2026-01-01</fromDate>
	<toDate>2026-03-31</toDate>
	<createDate>2026-05-21</createDate>
	<personName>ЧЕРНОМОРСКИ ХОЛДИНГ АД</personName>
	<persontype>Публично дружество/Емитент на облигации</persontype>
	<eik>102192707</eik>
	<represents>Димитър Чернев Янков</represents>
	<representsType>Изпълнителен директор</representsType>
	<addressMain>гр.Бургас, ул.Рилска 9, ет.1</addressMain>
	<addressCorrespondence>гр.Бургас, ул.Рилска 9, ет.1</addressCorrespondence>
	<email>contact@blackseaholding.eu</email>
	<website>http://blackseaholding.eu/</website>
	<media>http://www.infostock.bg/</media>
	<creator>Илиана Манолова</creator>
	<position>счетоводител</position>
	<balance>
		<current>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<lands>25</lands>
						<machines>4</machines>
						<acqLiqTangibleAssets>280</acqLiqTangibleAssets>
					</propertiesEquipment>
					<investProperties>31058</investProperties>
					<intangibleAssets>
						<propertyRights>2</propertyRights>
					</intangibleAssets>
					<commercialReputation>
						<positive>4860</positive>
					</commercialReputation>
					<finAssets>
						<investIn>
							<subsidiaries>15959</subsidiaries>
							<jointVentures>2301</jointVentures>
							<associatedEnterprises>4073</associatedEnterprises>
						</investIn>
						<heldToMaturity/>
						<others>338</others>
					</finAssets>
					<tradeReceivables/>
				</nonCurrentAssets>
				<currentAssets>
					<inventories/>
					<tradeReceivables>
						<receivablesAffiliatedCompanies>5962</receivablesAffiliatedCompanies>
						<receivablesCustomersSuppliers>1697</receivablesCustomersSuppliers>
						<advancesGranted>4397</advancesGranted>
						<taxRecovery>947</taxRecovery>
						<others>669</others>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading/>
						<others>3</others>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsCash>6</finAssetsCash>
						<finAssetsTimeDeposits>270</finAssetsTimeDeposits>
					</cashAndCashEquivalents>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>6743</registeredContributedCapital>
						<ordinaryShares>6743</ordinaryShares>
					</capitalStock>
					<reserves>
						<premReserves>8870</premReserves>
						<targetReserve>
							<generalReserves>960</generalReserves>
							<otherReserves>618</otherReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<retainedEarnings>27174</retainedEarnings>
							<uncoveredLoss>-8852</uncoveredLoss>
						</accumulatedProfit>
						<currentLoss>-279</currentLoss>
					</finResult>
				</equity>
				<minorityParticipation>1008</minorityParticipation>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<receivedLoansBanksNonBanks>5642</receivedLoansBanksNonBanks>
						<bondLoans>10982</bondLoans>
					</commercialOtherObligations>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>10017</liabilitiesLoansBankNonBank>
						<currentPartNonCurrentLiabilities>1234</currentPartNonCurrentLiabilities>
						<currentObligations>
							<obligationsReceivedCommercialLoans>1539</obligationsReceivedCommercialLoans>
							<obligationsSuppliersCustomers>646</obligationsSuppliersCustomers>
							<advancesReceived>4794</advancesReceived>
							<dutiesStaff>3</dutiesStaff>
							<obligationsInsuranceCompanies>1</obligationsInsuranceCompanies>
							<taxObligations>193</taxObligations>
						</currentObligations>
						<others>1558</others>
					</commercialOtherObligations>
				</currentLiabilities>
			</passives>
		</current>
		<previous>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<lands>25</lands>
						<machines>4</machines>
					</propertiesEquipment>
					<investProperties>31058</investProperties>
					<intangibleAssets>
						<propertyRights>2</propertyRights>
					</intangibleAssets>
					<commercialReputation>
						<positive>4860</positive>
					</commercialReputation>
					<finAssets>
						<investIn>
							<subsidiaries>15959</subsidiaries>
							<jointVentures>2228</jointVentures>
							<associatedEnterprises>4073</associatedEnterprises>
						</investIn>
						<heldToMaturity/>
						<others>338</others>
					</finAssets>
					<tradeReceivables/>
				</nonCurrentAssets>
				<currentAssets>
					<inventories/>
					<tradeReceivables>
						<receivablesAffiliatedCompanies>5894</receivablesAffiliatedCompanies>
						<receivablesCustomersSuppliers>1697</receivablesCustomersSuppliers>
						<taxRecovery>8</taxRecovery>
						<others>653</others>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading/>
						<others>3</others>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsCash>5</finAssetsCash>
						<finAssetsTimeDeposits>377</finAssetsTimeDeposits>
					</cashAndCashEquivalents>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>6727</registeredContributedCapital>
						<ordinaryShares>6727</ordinaryShares>
					</capitalStock>
					<reserves>
						<premReserves>8870</premReserves>
						<targetReserve>
							<generalReserves>960</generalReserves>
							<otherReserves>618</otherReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<retainedEarnings>25907</retainedEarnings>
							<uncoveredLoss>-7844</uncoveredLoss>
						</accumulatedProfit>
						<currentProfit>275</currentProfit>
					</finResult>
				</equity>
				<minorityParticipation>1006</minorityParticipation>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<receivedLoansBanksNonBanks>703</receivedLoansBanksNonBanks>
						<bondLoans>10999</bondLoans>
					</commercialOtherObligations>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>10018</liabilitiesLoansBankNonBank>
						<currentPartNonCurrentLiabilities>1141</currentPartNonCurrentLiabilities>
						<currentObligations>
							<obligationsReceivedCommercialLoans>1525</obligationsReceivedCommercialLoans>
							<obligationsSuppliersCustomers>20</obligationsSuppliersCustomers>
							<advancesReceived>4594</advancesReceived>
							<taxObligations>122</taxObligations>
						</currentObligations>
						<others>1543</others>
					</commercialOtherObligations>
				</currentLiabilities>
			</passives>
		</previous>
	</balance>
	<incomes>
		<current>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costsForExternalServices>365</costsForExternalServices>
						<depreciationExpenses>1</depreciationExpenses>
						<remunerationExpenses>21</remunerationExpenses>
						<insuranceCosts>1</insuranceCosts>
						<others>66</others>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>216</interestExpense>
						<others>46</others>
					</financialCosts>
				</activityCosts>
				<activityProfit>
					<shareOfProfitOfAssociatesAndJointVentures>73</shareOfProfitOfAssociatesAndJointVentures>
				</activityProfit>
				<profitBeforeTaxes/>
				<profitAfterTaxes>
					<forMinorityParticipation>2</forMinorityParticipation>
				</profitAfterTaxes>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales>
						<services>17</services>
						<others>280</others>
					</netRevenueFromSales>
					<financialIncome>
						<interestIncome>68</interestIncome>
						<others>1</others>
					</financialIncome>
				</activityIncome>
				<activityLoss/>
				<lossAfterTax/>
			</income>
		</current>
		<previous>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costsForExternalServices>31</costsForExternalServices>
						<remunerationExpenses>13</remunerationExpenses>
						<insuranceCosts>1</insuranceCosts>
						<others>37</others>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>244</interestExpense>
						<others>36</others>
					</financialCosts>
				</activityCosts>
				<activityProfit/>
				<profitBeforeTaxes/>
				<profitAfterTaxes/>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales/>
					<financialIncome>
						<interestIncome>96</interestIncome>
						<positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>22</positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>
					</financialIncome>
				</activityIncome>
				<activityLoss>
					<shareOfLossOfAssociatesAndJointVentures>52</shareOfLossOfAssociatesAndJointVentures>
				</activityLoss>
				<lossAfterTax/>
			</income>
		</previous>
	</incomes>
	<cashFlows>
		<current>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>268</receiptsFromCustomers>
				<paymentsToSuppliers>-5152</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-16</paymentsRelatedToRemuneration>
				<taxesPaidRefunded>1</taxesPaidRefunded>
				<corporateIncomeTaxesPaid>-13</corporateIncomeTaxesPaid>
				<otherReceiptsPaymentsFromOperationalActivity>-3</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity/>
			<cashFlowsFromFinancialActivity>
				<proceedsFromLoans>4993</proceedsFromLoans>
				<loansPaid>-183</loansPaid>
				<otherReceiptsPaymentsFromFinancialActivity>-1</otherReceiptsPaymentsFromFinancialActivity>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>382</cashFlowsPeriodStart>
			<cashFlowsPeriodEnd>
				<availabilityInCashAndBank>276</availabilityInCashAndBank>
			</cashFlowsPeriodEnd>
		</current>
		<previous>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>424</receiptsFromCustomers>
				<paymentsToSuppliers>-336</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-11</paymentsRelatedToRemuneration>
				<otherReceiptsPaymentsFromOperationalActivity>-2</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity/>
			<cashFlowsFromFinancialActivity>
				<proceedsFromLoans>38</proceedsFromLoans>
				<loansPaid>-89</loansPaid>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>88</cashFlowsPeriodStart>
			<cashFlowsPeriodEnd>
				<availabilityInCashAndBank>112</availabilityInCashAndBank>
			</cashFlowsPeriodEnd>
		</previous>
	</cashFlows>
	<capital>
		<capitalStock>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<otherAmendments>16</otherAmendments>
		</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/>
			<balanceAtTheBeginningOfTheReportingPeriod>618</balanceAtTheBeginningOfTheReportingPeriod>
		</otherTargetReserves>
		<accumulatedProfit>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<otherAmendments>992</otherAmendments>
		</accumulatedProfit>
		<accumulatedLoss>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<otherAmendments>-1008</otherAmendments>
		</accumulatedLoss>
		<transReserve>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</transReserve>
		<minorityParticipation>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<otherAmendments>2</otherAmendments>
		</minorityParticipation>
	</capital>
</ReportingInfo>