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	<fromDate>2025-01-01</fromDate>
	<toDate>2025-12-31</toDate>
	<createDate>2026-02-05</createDate>
	<personName>ВАРНА РИЪЛТИС ЕАД</personName>
	<persontype>Публично дружество/Емитент на облигации</persontype>
	<eik>103252121</eik>
	<represents>Валентина Борисова Димитрова</represents>
	<representsType>изпълнителен директор</representsType>
	<addressMain>гр.Варна, ул.Генерал Паренсов №3 ет.2</addressMain>
	<addressCorrespondence>гр.Варна, ул.Генерал Паренсов №3 ет.2</addressCorrespondence>
	<telephone>052 / 604 513</telephone>
	<fax>няма</fax>
	<email>acc@m-sat.bg</email>
	<website>http://varna-realties.bg/</website>
	<media>investor.bg</media>
	<creator>Светлана Димитрова</creator>
	<position>главен счетоводител</position>
	<balance>
		<current>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<machines>1</machines>
						<businessInventory>2</businessInventory>
					</propertiesEquipment>
					<investProperties>1467</investProperties>
					<intangibleAssets/>
					<commercialReputation/>
					<finAssets>
						<investIn>
							<subsidiaries>17864</subsidiaries>
						</investIn>
						<heldToMaturity/>
					</finAssets>
					<tradeReceivables>
						<affiliatedCompanies>7142</affiliatedCompanies>
					</tradeReceivables>
					<futureExpenses>114</futureExpenses>
					<deferredTaxAssets>255</deferredTaxAssets>
				</nonCurrentAssets>
				<currentAssets>
					<inventories/>
					<tradeReceivables>
						<receivablesAffiliatedCompanies>385</receivablesAffiliatedCompanies>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading>
							<others>1310</others>
						</finAssetsKeptForTrading>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsCash>137</finAssetsCash>
					</cashAndCashEquivalents>
					<futureExpenses>41</futureExpenses>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>294</registeredContributedCapital>
						<ordinaryShares>294</ordinaryShares>
					</capitalStock>
					<reserves>
						<targetReserve>
							<generalReserves>44</generalReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<retainedEarnings>5808</retainedEarnings>
						</accumulatedProfit>
						<currentProfit>34</currentProfit>
					</finResult>
				</equity>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<relatedEnterprises>13710</relatedEnterprises>
						<bondLoans>6000</bondLoans>
					</commercialOtherObligations>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>735</liabilitiesLoansBankNonBank>
						<currentPartNonCurrentLiabilities>2008</currentPartNonCurrentLiabilities>
						<currentObligations>
							<obligationsRelatedEnterprises>30</obligationsRelatedEnterprises>
							<obligationsSuppliersCustomers>9</obligationsSuppliersCustomers>
							<obligationsInsuranceCompanies>1</obligationsInsuranceCompanies>
							<taxObligations>40</taxObligations>
						</currentObligations>
					</commercialOtherObligations>
					<futureIncome>5</futureIncome>
				</currentLiabilities>
			</passives>
		</current>
		<previous>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<machines>1</machines>
						<businessInventory>4</businessInventory>
					</propertiesEquipment>
					<investProperties>4535</investProperties>
					<intangibleAssets/>
					<commercialReputation/>
					<finAssets>
						<investIn>
							<subsidiaries>17240</subsidiaries>
						</investIn>
						<heldToMaturity/>
					</finAssets>
					<tradeReceivables>
						<affiliatedCompanies>8133</affiliatedCompanies>
					</tradeReceivables>
					<futureExpenses>150</futureExpenses>
					<deferredTaxAssets>256</deferredTaxAssets>
				</nonCurrentAssets>
				<currentAssets>
					<inventories/>
					<tradeReceivables>
						<receivablesAffiliatedCompanies>2378</receivablesAffiliatedCompanies>
						<receivablesCustomersSuppliers>4</receivablesCustomersSuppliers>
						<advancesGranted>7</advancesGranted>
						<others>7</others>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading>
							<others>1287</others>
						</finAssetsKeptForTrading>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsCash>366</finAssetsCash>
					</cashAndCashEquivalents>
					<futureExpenses>41</futureExpenses>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>344</registeredContributedCapital>
						<ordinaryShares>344</ordinaryShares>
					</capitalStock>
					<reserves>
						<targetReserve>
							<generalReserves>44</generalReserves>
							<otherReserves>-95</otherReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<retainedEarnings>5669</retainedEarnings>
						</accumulatedProfit>
						<currentProfit>234</currentProfit>
					</finResult>
				</equity>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<relatedEnterprises>14153</relatedEnterprises>
						<receivedLoansBanksNonBanks>1369</receivedLoansBanksNonBanks>
						<bondLoans>8000</bondLoans>
					</commercialOtherObligations>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>949</liabilitiesLoansBankNonBank>
						<currentPartNonCurrentLiabilities>3590</currentPartNonCurrentLiabilities>
						<currentObligations>
							<obligationsRelatedEnterprises>27</obligationsRelatedEnterprises>
							<obligationsSuppliersCustomers>1</obligationsSuppliersCustomers>
							<obligationsInsuranceCompanies>1</obligationsInsuranceCompanies>
							<taxObligations>11</taxObligations>
						</currentObligations>
					</commercialOtherObligations>
					<futureIncome>112</futureIncome>
				</currentLiabilities>
			</passives>
		</previous>
	</balance>
	<incomes>
		<current>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costOfMaterials>68</costOfMaterials>
						<costsForExternalServices>169</costsForExternalServices>
						<depreciationExpenses>128</depreciationExpenses>
						<remunerationExpenses>22</remunerationExpenses>
						<insuranceCosts>3</insuranceCosts>
						<others>26</others>
						<impairmentOfAssets>4</impairmentOfAssets>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>663</interestExpense>
						<negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>2</negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>
						<negativeDifferencesFromChangesInExchangeRates>1</negativeDifferencesFromChangesInExchangeRates>
						<others>61</others>
					</financialCosts>
				</activityCosts>
				<activityProfit/>
				<profitBeforeTaxes>
					<expenseOfDeferredCorporateIncomeTaxes>1</expenseOfDeferredCorporateIncomeTaxes>
				</profitBeforeTaxes>
				<profitAfterTaxes/>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales>
						<services>919</services>
						<others>3</others>
					</netRevenueFromSales>
					<financialIncome>
						<interestIncome>233</interestIncome>
						<positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>23</positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>
					</financialIncome>
				</activityIncome>
				<activityLoss/>
				<lossAfterTax/>
			</income>
		</current>
		<previous>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costOfMaterials>74</costOfMaterials>
						<costsForExternalServices>201</costsForExternalServices>
						<depreciationExpenses>127</depreciationExpenses>
						<remunerationExpenses>22</remunerationExpenses>
						<insuranceCosts>3</insuranceCosts>
						<others>19</others>
						<impairmentOfAssets>-6</impairmentOfAssets>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>932</interestExpense>
						<others>108</others>
					</financialCosts>
				</activityCosts>
				<activityProfit/>
				<profitBeforeTaxes>
					<expenseOfDeferredCorporateIncomeTaxes>-54</expenseOfDeferredCorporateIncomeTaxes>
				</profitBeforeTaxes>
				<profitAfterTaxes/>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales>
						<services>681</services>
						<others>1</others>
					</netRevenueFromSales>
					<financialIncome>
						<interestIncome>261</interestIncome>
						<incomeFromDividends>676</incomeFromDividends>
						<positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>47</positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>
					</financialIncome>
				</activityIncome>
				<activityLoss/>
				<lossAfterTax/>
			</income>
		</previous>
	</incomes>
	<cashFlows>
		<current>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>4932</receiptsFromCustomers>
				<paymentsToSuppliers>-800</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-21</paymentsRelatedToRemuneration>
				<taxesPaidRefunded>-721</taxesPaidRefunded>
				<exchangeRateDifferences>-1</exchangeRateDifferences>
				<otherReceiptsPaymentsFromOperationalActivity>-1394</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity>
				<purchaseOfFixedAssets>-6</purchaseOfFixedAssets>
				<loansGranted>-2193</loansGranted>
				<reimbursedGrantedLoans>5200</reimbursedGrantedLoans>
				<receivedInterestOnLoansGranted>172</receivedInterestOnLoansGranted>
				<dividendsReceivedFromInvestments>226</dividendsReceivedFromInvestments>
			</cashFlowsFromInvestmentActivity>
			<cashFlowsFromFinancialActivity>
				<paymentsOnRepurchaseOfSecurities>-3590</paymentsOnRepurchaseOfSecurities>
				<proceedsFromLoans>4376</proceedsFromLoans>
				<loansPaid>-6047</loansPaid>
				<paidInterestFeesCommissionsOnLoansForInvestmentPurposes>-360</paidInterestFeesCommissionsOnLoansForInvestmentPurposes>
				<otherReceiptsPaymentsFromFinancialActivity>-2</otherReceiptsPaymentsFromFinancialActivity>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>366</cashFlowsPeriodStart>
			<cashFlowsPeriodEnd>
				<availabilityInCashAndBank>137</availabilityInCashAndBank>
			</cashFlowsPeriodEnd>
		</current>
		<previous>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>816</receiptsFromCustomers>
				<paymentsToSuppliers>-286</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-24</paymentsRelatedToRemuneration>
				<taxesPaidRefunded>-117</taxesPaidRefunded>
				<otherReceiptsPaymentsFromOperationalActivity>-70</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity>
				<loansGranted>-7660</loansGranted>
				<reimbursedGrantedLoans>7443</reimbursedGrantedLoans>
				<receivedInterestOnLoansGranted>9</receivedInterestOnLoansGranted>
				<purchaseOfInvestments>-233</purchaseOfInvestments>
				<dividendsReceivedFromInvestments>1575</dividendsReceivedFromInvestments>
				<otherReceiptsPaymentsFromInvestmentActivity>4</otherReceiptsPaymentsFromInvestmentActivity>
			</cashFlowsFromInvestmentActivity>
			<cashFlowsFromFinancialActivity>
				<proceedsFromIssuingSecurities>1590</proceedsFromIssuingSecurities>
				<proceedsFromLoans>17698</proceedsFromLoans>
				<loansPaid>-19023</loansPaid>
				<paidInterestFeesCommissionsOnLoansForInvestmentPurposes>-1522</paidInterestFeesCommissionsOnLoansForInvestmentPurposes>
				<otherReceiptsPaymentsFromFinancialActivity>-6</otherReceiptsPaymentsFromFinancialActivity>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>172</cashFlowsPeriodStart>
			<cashFlowsPeriodEnd>
				<availabilityInCashAndBank>366</availabilityInCashAndBank>
			</cashFlowsPeriodEnd>
		</previous>
	</cashFlows>
	<capital>
		<capitalStock>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<otherAmendments>-50</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>
				<others>95</others>
			</profitSharing>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<balanceAtTheBeginningOfTheReportingPeriod>-95</balanceAtTheBeginningOfTheReportingPeriod>
		</otherTargetReserves>
		<accumulatedProfit>
			<changesInOpeningBalances/>
			<profitSharing>
				<others>-95</others>
			</profitSharing>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</accumulatedProfit>
		<accumulatedLoss>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</accumulatedLoss>
		<transReserve>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</transReserve>
		<minorityParticipation>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</minorityParticipation>
	</capital>
</ReportingInfo>