<?xml version="1.0" encoding="UTF-8" standalone="yes"?>
<ReportingInfo version="1.0">
	<fromDate>2025-01-01</fromDate>
	<toDate>2025-12-31</toDate>
	<createDate>2026-04-30</createDate>
	<personName>Булфинанс Инвестмънт АД</personName>
	<persontype>Емитент на облигации</persontype>
	<eik>125004737</eik>
	<represents>Николай Лазаров, Валентин Ружев</represents>
	<representsType>заедно</representsType>
	<addressMain>гр. София, бул. Тодор Александров 73</addressMain>
	<addressCorrespondence>гр. София, бул. Тодор Александров 73</addressCorrespondence>
	<telephone>0884055972</telephone>
	<email>bfinvestment2015@gmail.com</email>
	<website>www.bulfinance.com</website>
	<media>X3NEWS</media>
	<creator>Димитър Христов</creator>
	<position>главен счетоводител</position>
	<balance>
		<current>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<lands>2134</lands>
						<buildings>75</buildings>
						<vehicles>130199</vehicles>
						<businessInventory>64</businessInventory>
						<acqLiqTangibleAssets>41428</acqLiqTangibleAssets>
						<others>217</others>
					</propertiesEquipment>
					<investProperties>21324</investProperties>
					<intangibleAssets>
						<propertyRights>2732</propertyRights>
						<softwareProducts>35</softwareProducts>
						<others>11416</others>
					</intangibleAssets>
					<commercialReputation>
						<positive>6444</positive>
					</commercialReputation>
					<finAssets>
						<investIn>
							<associatedEnterprises>18486</associatedEnterprises>
						</investIn>
						<heldToMaturity/>
					</finAssets>
					<tradeReceivables>
						<tradeLoans>5096</tradeLoans>
						<financeLease>373266</financeLease>
						<others>4184</others>
					</tradeReceivables>
					<deferredTaxAssets>893</deferredTaxAssets>
				</nonCurrentAssets>
				<currentAssets>
					<inventories>
						<goods>10190</goods>
					</inventories>
					<tradeReceivables>
						<receivablesCustomersSuppliers>15174</receivablesCustomersSuppliers>
						<taxRecovery>2585</taxRecovery>
						<others>66396</others>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading/>
						<finAssetsForSale>55524</finAssetsForSale>
						<others>124416</others>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsTimeDeposits>4587</finAssetsTimeDeposits>
					</cashAndCashEquivalents>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>74</registeredContributedCapital>
						<ordinaryShares>74</ordinaryShares>
					</capitalStock>
					<reserves>
						<targetReserve>
							<generalReserves>20</generalReserves>
							<otherReserves>1359</otherReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<retainedEarnings>16254</retainedEarnings>
						</accumulatedProfit>
						<currentProfit>5941</currentProfit>
					</finResult>
				</equity>
				<minorityParticipation>-3829</minorityParticipation>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<receivedLoansBanksNonBanks>454945</receivedLoansBanksNonBanks>
						<bondLoans>123788</bondLoans>
						<others>39073</others>
					</commercialOtherObligations>
					<otherNonCurrentLiabilities>135</otherNonCurrentLiabilities>
					<deferredTaxLiabilities>1594</deferredTaxLiabilities>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>72089</liabilitiesLoansBankNonBank>
						<currentPartNonCurrentLiabilities>6231</currentPartNonCurrentLiabilities>
						<currentObligations>
							<obligationsRelatedEnterprises>7680</obligationsRelatedEnterprises>
							<obligationsReceivedCommercialLoans>34778</obligationsReceivedCommercialLoans>
							<obligationsSuppliersCustomers>23448</obligationsSuppliersCustomers>
							<advancesReceived>3079</advancesReceived>
							<dutiesStaff>2075</dutiesStaff>
							<obligationsInsuranceCompanies>477</obligationsInsuranceCompanies>
							<taxObligations>559</taxObligations>
						</currentObligations>
						<others>107095</others>
					</commercialOtherObligations>
				</currentLiabilities>
			</passives>
		</current>
		<previous>
			<assets>
				<nonCurrentAssets>
					<propertiesEquipment>
						<lands>2134</lands>
						<buildings>78</buildings>
						<vehicles>130719</vehicles>
						<businessInventory>56</businessInventory>
						<acqLiqTangibleAssets>30556</acqLiqTangibleAssets>
						<others>297</others>
					</propertiesEquipment>
					<investProperties>297</investProperties>
					<intangibleAssets>
						<propertyRights>3472</propertyRights>
						<softwareProducts>10</softwareProducts>
						<others>1044</others>
					</intangibleAssets>
					<commercialReputation>
						<positive>6564</positive>
					</commercialReputation>
					<finAssets>
						<investIn>
							<associatedEnterprises>12836</associatedEnterprises>
							<otherBusinesses>30</otherBusinesses>
						</investIn>
						<heldToMaturity/>
					</finAssets>
					<tradeReceivables>
						<financeLease>347985</financeLease>
						<others>25232</others>
					</tradeReceivables>
					<deferredTaxAssets>880</deferredTaxAssets>
				</nonCurrentAssets>
				<currentAssets>
					<inventories>
						<goods>5247</goods>
					</inventories>
					<tradeReceivables>
						<receivablesCustomersSuppliers>21733</receivablesCustomersSuppliers>
						<taxRecovery>59</taxRecovery>
					</tradeReceivables>
					<finAssets>
						<finAssetsKeptForTrading/>
						<finAssetsForSale>8492</finAssetsForSale>
						<others>220758</others>
					</finAssets>
					<cashAndCashEquivalents>
						<finAssetsTimeDeposits>2939</finAssetsTimeDeposits>
					</cashAndCashEquivalents>
				</currentAssets>
			</assets>
			<passives>
				<equity>
					<capitalStock>
						<registeredContributedCapital>74</registeredContributedCapital>
						<ordinaryShares>74</ordinaryShares>
					</capitalStock>
					<reserves>
						<targetReserve>
							<generalReserves>22</generalReserves>
							<otherReserves>1359</otherReserves>
						</targetReserve>
					</reserves>
					<finResult>
						<accumulatedProfit>
							<retainedEarnings>15184</retainedEarnings>
						</accumulatedProfit>
						<currentProfit>1160</currentProfit>
					</finResult>
				</equity>
				<minorityParticipation>-4287</minorityParticipation>
				<nonCurrentLiabilities>
					<commercialOtherObligations>
						<receivedLoansBanksNonBanks>135468</receivedLoansBanksNonBanks>
						<bondLoans>71099</bondLoans>
						<others>341516</others>
					</commercialOtherObligations>
					<otherNonCurrentLiabilities>196</otherNonCurrentLiabilities>
					<deferredTaxLiabilities>1424</deferredTaxLiabilities>
				</nonCurrentLiabilities>
				<currentLiabilities>
					<commercialOtherObligations>
						<liabilitiesLoansBankNonBank>106416</liabilitiesLoansBankNonBank>
						<currentObligations>
							<obligationsRelatedEnterprises>14184</obligationsRelatedEnterprises>
							<obligationsSuppliersCustomers>39036</obligationsSuppliersCustomers>
							<dutiesStaff>1601</dutiesStaff>
							<taxObligations>491</taxObligations>
						</currentObligations>
						<others>96475</others>
					</commercialOtherObligations>
				</currentLiabilities>
			</passives>
		</previous>
	</balance>
	<incomes>
		<current>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costOfMaterials>1124</costOfMaterials>
						<costsForExternalServices>10443</costsForExternalServices>
						<depreciationExpenses>14982</depreciationExpenses>
						<remunerationExpenses>15131</remunerationExpenses>
						<insuranceCosts>2671</insuranceCosts>
						<others>11085</others>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>13710</interestExpense>
						<negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>2352</negativeDifferencesFromOperationsWithFinancialAssetsAndInstruments>
						<others>1821</others>
					</financialCosts>
				</activityCosts>
				<activityProfit>
					<shareOfProfitOfAssociatesAndJointVentures>5781</shareOfProfitOfAssociatesAndJointVentures>
				</activityProfit>
				<profitBeforeTaxes>
					<expensesForCurrentCorporateIncomeTaxes>132</expensesForCurrentCorporateIncomeTaxes>
					<expenseOfDeferredCorporateIncomeTaxes>147</expenseOfDeferredCorporateIncomeTaxes>
				</profitBeforeTaxes>
				<profitAfterTaxes>
					<forMinorityParticipation>1016</forMinorityParticipation>
				</profitAfterTaxes>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales>
						<goods>7265</goods>
						<services>41817</services>
						<others>14653</others>
					</netRevenueFromSales>
					<financialIncome>
						<interestIncome>4171</interestIncome>
						<positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>6302</positiveDifferencesFromOperationsWithFinancialAssetsAndInstruments>
						<others>576</others>
					</financialIncome>
				</activityIncome>
				<activityLoss/>
				<lossAfterTax/>
			</income>
		</current>
		<previous>
			<expenses>
				<activityCosts>
					<economicElementsCosts>
						<costOfMaterials>1032</costOfMaterials>
						<costsForExternalServices>9765</costsForExternalServices>
						<depreciationExpenses>14385</depreciationExpenses>
						<remunerationExpenses>15210</remunerationExpenses>
						<others>2801</others>
					</economicElementsCosts>
					<financialCosts>
						<interestExpense>12172</interestExpense>
					</financialCosts>
				</activityCosts>
				<activityProfit>
					<shareOfProfitOfAssociatesAndJointVentures>131</shareOfProfitOfAssociatesAndJointVentures>
				</activityProfit>
				<profitBeforeTaxes>
					<expensesForCurrentCorporateIncomeTaxes>96</expensesForCurrentCorporateIncomeTaxes>
					<expenseOfDeferredCorporateIncomeTaxes>175</expenseOfDeferredCorporateIncomeTaxes>
				</profitBeforeTaxes>
				<profitAfterTaxes>
					<forMinorityParticipation>3</forMinorityParticipation>
				</profitAfterTaxes>
			</expenses>
			<income>
				<activityIncome>
					<netRevenueFromSales>
						<services>50417</services>
						<others>580</others>
					</netRevenueFromSales>
					<financialIncome>
						<interestIncome>4249</interestIncome>
						<others>1422</others>
					</financialIncome>
				</activityIncome>
				<activityLoss>
					<shareOfLossOfAssociatesAndJointVentures>0</shareOfLossOfAssociatesAndJointVentures>
				</activityLoss>
				<lossAfterTax>
					<forMinorityParticipation>0</forMinorityParticipation>
				</lossAfterTax>
			</income>
		</previous>
	</incomes>
	<cashFlows>
		<current>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>142029</receiptsFromCustomers>
				<paymentsToSuppliers>-98889</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-17686</paymentsRelatedToRemuneration>
				<taxesPaidRefunded>-4307</taxesPaidRefunded>
				<corporateIncomeTaxesPaid>-99</corporateIncomeTaxesPaid>
				<interestReceived>3428</interestReceived>
				<otherReceiptsPaymentsFromOperationalActivity>-450</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity>
				<purchaseOfFixedAssets>-48370</purchaseOfFixedAssets>
				<proceedsFromTheSaleOfFixedAssets>5913</proceedsFromTheSaleOfFixedAssets>
				<loansGranted>-4845</loansGranted>
				<reimbursedGrantedLoans>6887</reimbursedGrantedLoans>
				<receivedInterestOnLoansGranted>300</receivedInterestOnLoansGranted>
				<purchaseOfInvestments>-30736</purchaseOfInvestments>
				<proceedsFromSaleOfInvestments>7945</proceedsFromSaleOfInvestments>
				<dividendsReceivedFromInvestments>75</dividendsReceivedFromInvestments>
				<otherReceiptsPaymentsFromInvestmentActivity>1612</otherReceiptsPaymentsFromInvestmentActivity>
			</cashFlowsFromInvestmentActivity>
			<cashFlowsFromFinancialActivity>
				<proceedsFromIssuingSecurities>58501</proceedsFromIssuingSecurities>
				<proceedsFromLoans>73292</proceedsFromLoans>
				<loansPaid>-75129</loansPaid>
				<paidObligationsUnderLeasingContracts>-8162</paidObligationsUnderLeasingContracts>
				<paidInterestFeesCommissionsOnLoansForInvestmentPurposes>-10023</paidInterestFeesCommissionsOnLoansForInvestmentPurposes>
				<dividendsPaid>-14</dividendsPaid>
				<otherReceiptsPaymentsFromFinancialActivity>376</otherReceiptsPaymentsFromFinancialActivity>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>2939</cashFlowsPeriodStart>
			<cashFlowsPeriodEnd>
				<availabilityInCashAndBank>4587</availabilityInCashAndBank>
			</cashFlowsPeriodEnd>
		</current>
		<previous>
			<cashFlowsFromOperationalActivity>
				<receiptsFromCustomers>123941</receiptsFromCustomers>
				<paymentsToSuppliers>-96639</paymentsToSuppliers>
				<paymentsRelatedToRemuneration>-13678</paymentsRelatedToRemuneration>
				<taxesPaidRefunded>-2411</taxesPaidRefunded>
				<corporateIncomeTaxesPaid>-243</corporateIncomeTaxesPaid>
				<interestReceived>3932</interestReceived>
				<otherReceiptsPaymentsFromOperationalActivity>420</otherReceiptsPaymentsFromOperationalActivity>
			</cashFlowsFromOperationalActivity>
			<cashFlowsFromInvestmentActivity>
				<purchaseOfFixedAssets>-19891</purchaseOfFixedAssets>
				<proceedsFromTheSaleOfFixedAssets>6426</proceedsFromTheSaleOfFixedAssets>
				<loansGranted>-15378</loansGranted>
				<reimbursedGrantedLoans>3142</reimbursedGrantedLoans>
				<receivedInterestOnLoansGranted>1345</receivedInterestOnLoansGranted>
				<purchaseOfInvestments>-21990</purchaseOfInvestments>
				<proceedsFromSaleOfInvestments>15599</proceedsFromSaleOfInvestments>
				<dividendsReceivedFromInvestments>354</dividendsReceivedFromInvestments>
				<otherReceiptsPaymentsFromInvestmentActivity>657</otherReceiptsPaymentsFromInvestmentActivity>
			</cashFlowsFromInvestmentActivity>
			<cashFlowsFromFinancialActivity>
				<proceedsFromIssuingSecurities>41072</proceedsFromIssuingSecurities>
				<proceedsFromLoans>69724</proceedsFromLoans>
				<loansPaid>-76103</loansPaid>
				<paidObligationsUnderLeasingContracts>-2584</paidObligationsUnderLeasingContracts>
				<paidInterestFeesCommissionsOnLoansForInvestmentPurposes>-16175</paidInterestFeesCommissionsOnLoansForInvestmentPurposes>
				<otherReceiptsPaymentsFromFinancialActivity>-1308</otherReceiptsPaymentsFromFinancialActivity>
			</cashFlowsFromFinancialActivity>
			<cashFlowsPeriodStart>2727</cashFlowsPeriodStart>
			<cashFlowsPeriodEnd>
				<availabilityInCashAndBank>2939</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/>
			<balanceAtTheBeginningOfTheReportingPeriod>1357</balanceAtTheBeginningOfTheReportingPeriod>
		</otherTargetReserves>
		<accumulatedProfit>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<otherAmendments>-90</otherAmendments>
		</accumulatedProfit>
		<accumulatedLoss>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</accumulatedLoss>
		<transReserve>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
		</transReserve>
		<minorityParticipation>
			<changesInOpeningBalances/>
			<profitSharing/>
			<subsequentValuationsOfTangibleAndIntangibleFixedAssets/>
			<subsequentValuationsOfFinancialAssetsAndInstruments/>
			<otherAmendments>458</otherAmendments>
		</minorityParticipation>
	</capital>
</ReportingInfo>