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Zagrebačka burza d.d. — Annual Report 2025
Apr 24, 2026
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| Unnamed: 0 | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 | Unnamed: 8 | Unnamed: 9 |
|---|---|---|---|---|---|---|---|---|---|
| ISSUER’S GENERAL DATA | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Reporting period: | NaN | NaN | NaN | 2025-01-01 00:00:00 | NaN | to | 2025-12-31 00:00:00 | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | Year: | NaN | NaN | 2025. | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Annual financial statements | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Registration number (MB): | NaN | 03749606 | NaN | NaN | Issuer’s home Member State code: | NaN | HR | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Entity’s registration number (MBS): | NaN | 080034217 | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Personal identification number (OIB): | NaN | 84368186611 | NaN | NaN | NaN | LEI: | 7478000050A040C0D041 | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Institution code: | NaN | 4 | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Name of the issuer: | NaN | Zagreb Stock Exchange Inc. | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Postal code and place: | NaN | 10000 | NaN | NaN | NaN | Zagreb | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Street and house number: | NaN | Ivana Lučića 2a/22 | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| E-mail address: | NaN | [email protected] | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Web address: | NaN | www.zse.hr | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Number of employees \n(end of the reporting period): | NaN | 37 | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Consolidated report: | NaN | KD | (KN-not consolidated/KD-consolidated) | NaN | NaN | NaN | KN | KD | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Audited: | NaN | RD | (RN-not audited/RD-audited) | NaN | NaN | NaN | RN | RD | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Names of subsidiaries (according to IFRS) | NaN | NaN | NaN | Registered office: | NaN | NaN | NaN | NaN | MB: |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Ljubljanska borza vrednostnh papirjev d.d. | NaN | NaN | NaN | Ljubljana, Slovenija | NaN | NaN | NaN | NaN | 5316081 |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | Yes |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | No |
| Bookkeeping firm: | NaN | Yes | NaN | (Yes/No) | NaN | Sigma Tax Consulting .o.o. | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | (name of the bookkeeping firm) | NaN | NaN | NaN |
| Contact person: | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | (only name and surname of the contact person) | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Telephone: | NaN | 01/4699-555 | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| E-mail address: | NaN | [email protected] | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Audit firm: | NaN | PriceWaterhouseCoopers Ltd | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | (name of the audit firm) | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Certified auditor: | NaN | Marija Mihaljević | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | (name and surname) | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
Balance sheet
| BALANCE SHEET | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 |
|---|---|---|---|
| balance as at 31.12.2025 | NaN | NaN | NaN |
| in EUR | NaN | NaN | NaN |
| Submitter: Zagreb Stock Exchange Inc. | NaN | NaN | NaN |
| Item | ADP | Last day of the preceding business year | At the reporting date of the current period |
| NaN | code | NaN | NaN |
| 1 | 2 | 3 | 4 |
| ASSETS | NaN | NaN | NaN |
| FIXED ASSETS 002+003+009+013 | 1 | 3108841 | 3854214 |
| I INTANGIBLE ASSETS | 2 | 343248 | 273659 |
| II TANGIBLE ASSETS 004+…+008 | 3 | 1188871 | 1080508 |
| 1 Land and buildings | 4 | 875642 | 729204 |
| 2 Computer equipment | 5 | 121648 | 186038 |
| 3 Other tangible assets | 6 | 181501 | 161993 |
| 4 Leasehold improvements | 7 | 10080 | 3273 |
| 5 Assets under construction | 8 | 0 | 0 |
| III FIXED FINANCIAL ASSETS 010+011+012 | 9 | 1576722 | 2497212 |
| 1 Investments in associates, subsidiaries and joint ventures | 10 | 1388107 | 1392066 |
| 2 Financial assets at amortised cost | 11 | 33166 | 33166 |
| 3 Financial assets at fair value through other comprehensive income | 12 | 155449 | 1071980 |
| DEFERRED TAX ASSETS | 13 | 0 | 2835 |
| B CURRENT ASSETS 015+021+025 | 14 | 3964365 | 4049077 |
| I RECEIVABLES 016+...+020 | 15 | 442058 | 550435 |
| 1 Customer receivables | 16 | 332696 | 411862 |
| 2 Receivables from employees and members of the undertaking | 17 | 221 | 0 |
| 3 Receivables from government and other institutions | 18 | 11995 | 19585 |
| 4 Receivables from connected undertakings | 19 | 0 | 0 |
| 5 Other receivables | 20 | 97146 | 118988 |
| III SHORT-TERM FINANCIAL ASSETS 022+…+024 | 21 | 3323844 | 2802273 |
| 1 Financial assets at amortised cost | 22 | 2336219 | 1703572 |
| 2 Financial assets at fair value through other comprehensive income | 23 | 131100 | 235055 |
| 3 Financial assets at fair value through statement of profit or loss | 24 | 856525 | 863646 |
| III CASH AND CASH EQUIVALENTS | 25 | 198463 | 696369 |
| C PREPAID EXPENSES AND ACCRUED INCOME | 26 | 296839 | 298794 |
| D TOTAL ASSETS 001+014+026 | 27 | 7370045 | 8202085 |
| E OFF-BALANCE SHEET ITEMS | 28 | 0 | 0 |
| EQUITY AND LIABILITIES | NaN | NaN | NaN |
| A CAPITAL AND RESERVES 030+031+032+037+…+041 | 29 | 6075231 | 6503708 |
| I INITIAL CAPITAL | 30 | 3076315 | 3076315 |
| II CAPITAL RESERVES | 31 | 1840833 | 1840947 |
| III PROFIT RESERVES 033+...+036 | 32 | 967788 | 849612 |
| 1 Legal reserves | 33 | 18714 | 18714 |
| 2 Reserves for treasury shares | 34 | -30483 | -23292 |
| 3 Fair value reserves | 35 | 163048 | 166884 |
| 4 Other reserves | 36 | 816509 | 687306 |
| IV REVALUATION RESERVES | 37 | 98000 | 98000 |
| V RESERVES FROM EXCHANGE RATE DIFFERENCES FROM THE TRANSLATION OF FOREIGN OPERATIONS | 38 | -22115 | -22269 |
| VI RETAINED PROFIT OR LOSS BROUGHT FORWARD | 39 | -82843 | 104797 |
| VII PROFIT OR LOSS FOR THE YEAR | 40 | 197253 | 556306 |
| VIII MINORITY INTEREST | 41 | 0 | 0 |
| B PROVISIONS | 42 | 27290 | 28013 |
| C SHORT-TERM LIABILITIES 044+...049 | 43 | 481433 | 610361 |
| 1 Liabilities for advance payments | 44 | 8506 | 5600 |
| 2 Liabilities to suppliers | 45 | 136357 | 145154 |
| 3 Liabilities to employees | 46 | 106423 | 124481 |
| 4 Taxes, contributions and similar liabilities | 47 | 70880 | 206769 |
| 5 Liabilities to connected undertakings | 48 | 14011 | 2356 |
| 6 Other short-term liabilities | 49 | 145256 | 126001 |
| D LONG-TERM LIABILITIES | 50 | 45020 | 25615 |
| E DEFERRED TAX LIABILITY | 51 | 7605 | 0 |
| F ACCRUALS AND DEFERRED INCOME | 52 | 733466 | 1034388 |
| G TOTAL LIABILITIES 029+042+043+050+051+052 | 53 | 7370045 | 8202085 |
| H OFF-BALANCE SHEET ITEMS | 54 | 0 | 0 |
| Appendix to the balance sheet (position for consolidated financial statements) | NaN | NaN | NaN |
| I Capital and reserves 056+057 | 55 | 6075231 | 6503708 |
| 1 Attributable to owners of the parent | 56 | 6075231 | 6503708 |
| 2 Attributable to non-controlling interest | 57 | 0 | 0 |
P&L
| STATEMENT OF PROFIT OR LOSS | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 |
|---|---|---|---|
| For the period1.1.2025 to 31.12.2025 | NaN | NaN | NaN |
| in EUR | NaN | NaN | NaN |
| Submitter: Zagreb Stock Exchange Inc. | NaN | NaN | NaN |
| Item | ADP | Same period of the previous year | Current period |
| 1 | 2 | 3 | 5 |
| A OPERATING INCOME 002+008 | 1 | 3986807 | 5046750 |
| I Sales revenue 003+...+007 | 2 | 2561831 | 3541340 |
| 1 Commissions and membership fees | 3 | 1342797 | 2161033 |
| 2 Listing maintenance fees | 4 | 1071165 | 1161911 |
| 3 Quotation fees | 5 | 147869 | 218396 |
| 4 Income from auctions | 6 | 0 | 0 |
| 5 Income from memberships | 7 | 0 | 0 |
| II Other operating income 009+...+011 | 8 | 1424976 | 1505410 |
| 1 Income from application programming interface (API) services | 9 | 0 | 0 |
| 2 Income from the supply of information | 10 | 930289 | 994710 |
| 3 Other income | 11 | 494687 | 510700 |
| B OPERATING EXPENSES 013+016+020+021+022+025+026 | 12 | 3927849 | 4498182 |
| I Material costs 014+015 | 13 | 1120120 | 1295662 |
| 1 Costs of raw materials | 14 | 38477 | 26527 |
| 2 Other external costs | 15 | 1081643 | 1269135 |
| II Staff costs 017+...+019 | 16 | 1786942 | 2088277 |
| 1 Net salaries and wages | 17 | 1239390 | 1460345 |
| 2 Tax and contributions from salary costs | 18 | 406433 | 466439 |
| 3 Payroll contributions | 19 | 141119 | 161493 |
| III Depreciation | 20 | 324741 | 327224 |
| IV Other costs | 21 | 642999 | 747798 |
| V Value adjustment 023+024 | 22 | 12492 | 8931 |
| 1 fixed assets (other than financial assets) | 23 | 0 | 0 |
| 2 current assets (other than financial assets) | 24 | 12492 | 8931 |
| VI Provisions | 25 | 0 | 0 |
| VII Other operating expenses | 26 | 40555 | 30290 |
| C FINANCIAL INCOME 028+...+033 | 27 | 111631 | 77177 |
| 1 Interest, exchange rate differences, dividends and similar income from relations with connected undertakings | 28 | 0 | 0 |
| 2 Interest, exchange rate differences, dividends and similar income from relations with non-connected undertakings and other persons | 29 | 87503 | 61281 |
| 3 Income share from associates and participating interests | 30 | 0 | 0 |
| 4 Unrealised gains (income) from financial assets | 31 | 3742 | 3934 |
| 5 Profit from reversal of provisions for impairment for expected credit losses | 32 | 0 | 0 |
| 6 Other financial income | 33 | 20386 | 11962 |
| D FINANCIAL EXPENSES 035+...+039 | 34 | 7907 | 5911 |
| 1 Interest, exchange rate differences and other expenditures with connected undertakings | 35 | 516 | 576 |
| 2 Interest, exchange rate differences and other expenditure from relations with non-connected undertakings and other persons | 36 | 7391 | 4654 |
| 3 Unrealised losses (expenses) from financial assets | 37 | 0 | 0 |
| 4 Loss allowance for expected credit losses | 38 | 0 | 0 |
| 5 Other financial expenses | 39 | 0 | 681 |
| E TOTAL INCOME 001+027 | 40 | 4098438 | 5123927 |
| F TOTAL EXPENDITURE 012+034 | 41 | 3935756 | 4504093 |
| G Share in profit/loss of associates and subsidiaries | 42 | 68127 | 58556 |
| H PRE-TAX PROFIT OR LOSS 040-041+042 | 43 | 230809 | 678390 |
| I INCOME TAX | 44 | 33556 | 122084 |
| J PROFIT OR LOSS FOR THE PERIOD 043-044 | 45 | 197253 | 556306 |
| 1 Change in revaluation reserves (property, plant, equipment and intangible assets) | 46 | 0 | 0 |
| 2 Actuarial gains/losses on defined benefit pension plans | 47 | 2534 | -2321 |
| 3 Unrealised gains/losses on financial assets at fair value through other comprehensive income | 48 | 1291 | 4919 |
| 4 Gains/losses on hedging instruments in a cash flow hedge | 49 | 0 | 0 |
| 5 Gains/losses arising from translation of financial statements relating to foreign operations | 50 | 19 | -154 |
| 6 Income tax on other comprehensive income | 51 | 3630 | 828 |
| K OTHER COMPREHENSIVE INCOME 046+…+051 | 52 | 7474 | 1616 |
| TOTAL COMPREHENSIVE INCOME 045+052 | 53 | 204727 | 557922 |
| M RECLASSIFICATION ADJUSTMENTS | 54 | 0 | 0 |
| Appendix ** | NaN | NaN | NaN |
| Attributable to owners of the parent | 55 | 197467 | 557922 |
| Attributable to non-controlling interest | 56 | 0 | 0 |
CF_I
| STATEMENT OF CASH FLOWS - indirect method | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 | Unnamed: 8 |
|---|---|---|---|---|---|---|---|---|
| for the period 1.1.2025 to 31.12.2025 | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| in EUR | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Submitter: Zagreb Stock Exchange | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Item | NaN | NaN | NaN | NaN | NaN | ADP\ncode | Same period of the previous year | Current period |
| 1 | NaN | NaN | NaN | NaN | NaN | 2 | 3 | 4 |
| CASH FLOW FROM OPERATING ACTIVITIES | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| 1 Pre-tax profit | NaN | NaN | NaN | NaN | NaN | 1 | 230809 | 678390 |
| 2 Depreciation | NaN | NaN | NaN | NaN | NaN | 2 | 324741 | 327224 |
| 3 Increase in short-term liabilities | NaN | NaN | NaN | NaN | NaN | 3 | 58331 | 0 |
| 4 Decrease in short-term receivables | NaN | NaN | NaN | NaN | NaN | 4 | 61413 | 0 |
| 5 Decrease in inventories | NaN | NaN | NaN | NaN | NaN | 5 | 0 | 0 |
| 6 Loss on impairment for expected credit losses | NaN | NaN | NaN | NaN | NaN | 6 | 0 | 0 |
| 7 Other cash flow increase | NaN | NaN | NaN | NaN | NaN | 7 | 53570 | 388546 |
| I Total cash flow increase from operating activities 001+...+007 | NaN | NaN | NaN | NaN | NaN | 8 | 728864 | 1394160 |
| 1 Decrease in short-term liabilities | NaN | NaN | NaN | NaN | NaN | 9 | 0 | 54516 |
| 2 Increase in short-term receivables | NaN | NaN | NaN | NaN | NaN | 10 | 0 | 158228 |
| 3 Increase in inventories | NaN | NaN | NaN | NaN | NaN | 11 | 0 | 0 |
| 4 Profit from reversal of provisions for impairment for expected credit losses | NaN | NaN | NaN | NaN | NaN | 12 | 0 | 0 |
| 5 Other cash flow decrease | NaN | NaN | NaN | NaN | NaN | 13 | 322269 | 156024 |
| II Total cash flow decrease from operating activities 009+...+013 | NaN | NaN | NaN | NaN | NaN | 14 | 322269 | 368768 |
| CASH FLOW FROM INVESTMENT ACTIVITIES | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| 1 Cash receipts from sale of fixed tangible and intangible assets | NaN | NaN | NaN | NaN | NaN | 15 | 0 | 0 |
| 2 Cash receipts the from sale of equity instruments and debt instruments | NaN | NaN | NaN | NaN | NaN | 16 | 6200 | 1406037 |
| 3 Interest received | NaN | NaN | NaN | NaN | NaN | 17 | 88345 | 5135 |
| 4 Dividends received | NaN | NaN | NaN | NaN | NaN | 18 | 0 | 54443 |
| 5 Other cash receipts from investment activities | NaN | NaN | NaN | NaN | NaN | 19 | 1134216 | 1108788 |
| III Total cash receipts from investment activities 015+...+019 | NaN | NaN | NaN | NaN | NaN | 20 | 1228761 | 2574403 |
| 1 Cash payments for the purchase of fixed tangible and intangible assets | NaN | NaN | NaN | NaN | NaN | 21 | 102652 | 1054295 |
| 2 Cash payments for the acquisition of equity financial instruments and debt financial instruments | NaN | NaN | NaN | NaN | NaN | 22 | 1146458 | 689623 |
| 3 Other cash payments from investment activities | NaN | NaN | NaN | NaN | NaN | 23 | 257567 | 1125387 |
| IV Total cash payments from investment activities 021+...+023 | NaN | NaN | NaN | NaN | NaN | 24 | 1506677 | 2869305 |
| CASH FLOW FROM FINANCING ACTIVITIES | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| 1 Cash receipts from the issue of equity financial instruments and debt financial instruments | NaN | NaN | NaN | NaN | NaN | 25 | 0 | 0 |
| 2 Cash receipts from credit principals, debentures, loans and other borrowings | NaN | NaN | NaN | NaN | NaN | 26 | 0 | 0 |
| 3 Other cash receipts from financing activities | NaN | NaN | NaN | NaN | NaN | 27 | 0 | 0 |
| V Total cash receipts from financing activities 025+...+027 | NaN | NaN | NaN | NaN | NaN | 28 | 0 | 0 |
| 1 Cash payments for credit principals and bonds | NaN | NaN | NaN | NaN | NaN | 29 | 0 | 0 |
| 2 Cash payments for dividends | NaN | NaN | NaN | NaN | NaN | 30 | 103733 | 127029 |
| 3 Cash payments for finance lease | NaN | NaN | NaN | NaN | NaN | 31 | 0 | 0 |
| 4 Cash payments for the redemption of treasury shares | NaN | NaN | NaN | NaN | NaN | 32 | 0 | 0 |
| 5 Other cash payments from financing activities | NaN | NaN | NaN | NaN | NaN | 33 | 100166 | 105555 |
| VI Total cash payments from operating activities 029+...+033 | NaN | NaN | NaN | NaN | NaN | 34 | 203899 | 232584 |
| VII Cash and cash equivalents at the beginning of period | NaN | NaN | NaN | NaN | NaN | 35 | 273683 | 198463 |
| VIII Increase of cash and cash equivalents | NaN | NaN | NaN | NaN | NaN | 36 | 0 | 497906 |
| IX Decrease of cash and cash equivalents | NaN | NaN | NaN | NaN | NaN | 37 | 75220 | 0 |
| X Cash and cash equivalents at the end of period | NaN | NaN | NaN | NaN | NaN | 38 | 198463 | 696369 |
CF_D
| STATEMENT OF CASH FLOWS - direct method | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 | Unnamed: 8 |
|---|---|---|---|---|---|---|---|---|
| for the period __.__.____ to __.__.____ | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| in EUR | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Submitter: ___________________________________________________________________ | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Item | NaN | NaN | NaN | NaN | NaN | ADP\ncode | Same period of the previous year | At the reporting date of the current period |
| 1 | NaN | NaN | NaN | NaN | NaN | 2 | 3 | 4 |
| CASH FLOW FROM OPERATING ACTIVITIES | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| 1 Cash receipts from members, issuers and other stock exchange services users | NaN | NaN | NaN | NaN | NaN | 1 | NaN | NaN |
| 2 Cash receipts from royalties, fees, commissions and other revenue | NaN | NaN | NaN | NaN | NaN | 2 | NaN | NaN |
| 3 Cash receipts from insurance premiums | NaN | NaN | NaN | NaN | NaN | 3 | NaN | NaN |
| 4 Cash receipts from tax refund | NaN | NaN | NaN | NaN | NaN | 4 | NaN | NaN |
| I Total cash receipts from operating activities 001+...+004 | NaN | NaN | NaN | NaN | NaN | 5 | 0 | 0 |
| 1 Cash payments to suppliers | NaN | NaN | NaN | NaN | NaN | 6 | NaN | NaN |
| 2 Cash payments to employees | NaN | NaN | NaN | NaN | NaN | 7 | NaN | NaN |
| 3 Cash payments for insurance premiums | NaN | NaN | NaN | NaN | NaN | 8 | NaN | NaN |
| 4 Interest paid | NaN | NaN | NaN | NaN | NaN | 9 | NaN | NaN |
| 5 Tax paid | NaN | NaN | NaN | NaN | NaN | 10 | NaN | NaN |
| 6 Other cash payments | NaN | NaN | NaN | NaN | NaN | 11 | NaN | NaN |
| II Total cash payments from operating activities 006+...+011 | NaN | NaN | NaN | NaN | NaN | 12 | 0 | 0 |
| CASH FLOW FROM INVESTMENT ACTIVITIES | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| 1 Cash receipts from sale of fixed tangible and intangible assets | NaN | NaN | NaN | NaN | NaN | 13 | NaN | NaN |
| 2 Cash receipts the from sale of equity instruments and debt instruments | NaN | NaN | NaN | NaN | NaN | 14 | NaN | NaN |
| 3 Interest received | NaN | NaN | NaN | NaN | NaN | 15 | NaN | NaN |
| 4 Dividends received | NaN | NaN | NaN | NaN | NaN | 16 | NaN | NaN |
| 5 Other cash receipts from investment activities 018+019 | NaN | NaN | NaN | NaN | NaN | 17 | 0 | 0 |
| a. Cash receipts from sales of units in open-ended investment funds | NaN | NaN | NaN | NaN | NaN | 18 | NaN | NaN |
| b. Cash receipts from sales of short-term deposits | NaN | NaN | NaN | NaN | NaN | 19 | NaN | NaN |
| III Total cash receipts from investment activities 013+...+017 | NaN | NaN | NaN | NaN | NaN | 20 | 0 | 0 |
| 1 Cash payments for the purchase of fixed tangible and intangible assets | NaN | NaN | NaN | NaN | NaN | 21 | NaN | NaN |
| 2 Cash payments for the acquisition of equity financial instruments and debt financial instruments | NaN | NaN | NaN | NaN | NaN | 22 | NaN | NaN |
| 3 Other cash payments from investment activities 024+025 | NaN | NaN | NaN | NaN | NaN | 23 | 0 | 0 |
| a. Cash payments from sales of units in open-ended investment funds | NaN | NaN | NaN | NaN | NaN | 24 | NaN | NaN |
| b. Cash payments from sales of short-term deposits | NaN | NaN | NaN | NaN | NaN | 25 | NaN | NaN |
| IV Total cash payments from investment activities 021+...+023 | NaN | NaN | NaN | NaN | NaN | 26 | 0 | 0 |
| CASH FLOW FROM FINANCING ACTIVITIES | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| 1 Cash receipts from the issue of equity financial instruments and debt financial instruments | NaN | NaN | NaN | NaN | NaN | 27 | NaN | NaN |
| 2 Cash receipts from credit principals, debentures, loans and other borrowings | NaN | NaN | NaN | NaN | NaN | 28 | NaN | NaN |
| 3 Other cash receipts from financing activities | NaN | NaN | NaN | NaN | NaN | 29 | NaN | NaN |
| V Total cash receipts from financing activities 027+...+029 | NaN | NaN | NaN | NaN | NaN | 30 | 0 | 0 |
| 1 Cash payments for credit principals and bonds | NaN | NaN | NaN | NaN | NaN | 31 | NaN | NaN |
| 2 Cash payments for dividends | NaN | NaN | NaN | NaN | NaN | 32 | NaN | NaN |
| 3 Cash payments for finance lease | NaN | NaN | NaN | NaN | NaN | 33 | NaN | NaN |
| 4 Cash payments for the redemption of treasury shares | NaN | NaN | NaN | NaN | NaN | 34 | NaN | NaN |
| 5 Other cash payments from financing activities | NaN | NaN | NaN | NaN | NaN | 35 | NaN | NaN |
| VI Total cash payments from operating activities 031+...+035 | NaN | NaN | NaN | NaN | NaN | 36 | 0 | 0 |
| VII Cash and cash equivalents at the beginning of period | NaN | NaN | NaN | NaN | NaN | 37 | NaN | NaN |
| VIII Increase of cash and cash equivalents | NaN | NaN | NaN | NaN | NaN | 38 | NaN | NaN |
| IX Decrease of cash and cash equivalents | NaN | NaN | NaN | NaN | NaN | 39 | NaN | NaN |
| X Cash and cash equivalents at the end of period | NaN | NaN | NaN | NaN | NaN | 40 | 0 | 0 |
SOCE
| STATEMENT OF CHANGES IN EQUITY | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 | Unnamed: 8 | Unnamed: 9 | Unnamed: 10 | Unnamed: 11 | Unnamed: 12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NaN | NaN | NaN | for the period from | NaN | 2025-01-01 00:00:00 | to | 2025-12-31 00:00:00 | NaN | NaN | NaN | NaN | in EUR |
| Item | ADP | Attributable to owners of the parent | NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN | Attributable to non-controlling interests | Total capital and reserves |
| NaN | NaN | Subscribed capital | Capital reserves | Legal reserves and reserves for treasury shares | Fair value reserves | Other reserves | Revaluation reserves | Reserves from exchange rate differences from the translation of foreign operations | Retained profit or loss brought forward | Profit or loss for the year | NaN | NaN |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| Balance on the first day of the previous business year | 1 | 3076315 | 1840833 | -11769 | 162041 | 814226 | 101095 | -22134 | -30798 | 63848 | 0 | 5993657 |
| Change in accounting policies | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Correction of errors from prior periods | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance on the first day of the previous business year (restated) | 4 | 3076315 | 1840833 | -11769 | 162041 | 814226 | 101095 | -22134 | -30798 | 63848 | 0 | 5993657 |
| Profit or loss for the period | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 197253 | 0 | 197253 |
| Unrealised gains or losses on financial assets at fair value through other comprehensive income | 6 | 0 | 0 | 0 | 1007 | 2283 | -3095 | 19 | 0 | 0 | 0 | 214 |
| Other changes in equity unrelated to owners | 7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total directly recognized income and expenses of the previous year (previous year periods) | 8 | 0 | 0 | 0 | 1007 | 2283 | -3095 | 19 | 0 | 197253 | 0 | 197467 |
| Increase/decrease in subscribed capital | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other contributions by owners | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payment of share in profit/dividend | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -115893 | 0 | 0 | -115893 |
| Other distribution to owners | 12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 63848 | -63848 | 0 | 0 |
| Balance on the last day of the previous business year reporting period | 13 | 3076315 | 1840833 | -11769 | 163048 | 816509 | 98000 | -22115 | -82843 | 197253 | 0 | 6075231 |
| Balance on the first day of the current business year | 14 | 3076315 | 1840833 | -11769 | 163048 | 816509 | 98000 | -22115 | -82843 | 197253 | 0 | 6075231 |
| Change in accounting policies | 15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Correction of errors from prior periods | 16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance on the first day of the current business year (restated) | 17 | 3076315 | 1840833 | -11769 | 163048 | 816509 | 98000 | -22115 | -82843 | 197253 | 0 | 6075231 |
| Profit or loss for the period | 18 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 556306 | 0 | 556306 |
| Unrealised gains or losses on financial assets at fair value through other comprehensive income | 19 | 0 | 0 | 0 | 3836 | -2066 | 0 | -154 | 0 | 0 | 0 | 1616 |
| Other changes in equity unrelated to owners | 20 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total directly recognised income and expenses of the current year (current period) | 21 | 0 | 0 | 0 | 3836 | -2066 | 0 | -154 | 0 | 556306 | 0 | 557922 |
| Increase/decrease in subscribed capital | 22 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other contributions by owners | 23 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payment of share in profit/dividend | 24 | 0 | 114 | 7191 | 0 | -127137 | 0 | 0 | -9613 | 0 | 0 | -129445 |
| Other distribution to owners | 25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 197253 | -197253 | 0 | 0 |
| Balance on the last day of the current business year reporting period | 26 | 3076315 | 1840947 | -4578 | 166884 | 687306 | 98000 | -22269 | 104797 | 556306 | 0 | 6503708 |
Notes
| Notes to the annual consolidated financial statements – GFI 1. Reporting entity Zagreb Stock Exchange Inc. (“the Company”) is a joint stock company domiciled in Republic of Croatia and was registered at the Commercial Court in Zagreb on 5 July 1991 under the number (MBS) 0800034217. The personal identification number of the Company (OIB) is 84368186611. The address of the Company’s registered office is Eurotower, 22nd floor, Ivana Lučića 2a/22, Zagreb, Croatia. 2. Basis of preparation and significant accounting policies Basis for preparation Consolidated financial statements are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (IFRS). Consolidated financial statements are prepared on a historical cost basis, except for financial assets at fair value through profit or loss and financial assets at fair value through other comprehensive income and land and building which are measured at fair value. Detailed information on the basis of preparation of the financial statements are provided in Note 2 to the consolidated financial statements presented in the Annual Report on Group Status and Business Activities in 2025 available on the internet page www.zse.hr (further: the Group’s Annual Report). Significant accounting policies Financial statements for the reporting period are prepared applying the same accounting policies as in the latest consolidated financial statements for 2025 available on the internet page www.zse.hr. Disclosure of additional information required by IFRSs that are not presented elsewhere in the separate statement of financial position, statement of comprehensive income, statement of cash flows and statement of changes in equity Additional information required by IFRSs that are not presented elsewhere in the consolidated statement of financial position, statement of comprehensive income, statement of cash flows and statement of changes in equity are disclosed in the Group’s Annual Report as published on the internet page www.zse.hr. 3. Financial commitments, guarantees or contingencies that are not included in the balance sheet, and an indication of the nature and form of any valuable security which has been provided The Group does not have financial commitments, guarantees or contingencies that are not included in the balance sheet as of December 31, 2025, nor has issued securities. 4. Amount of advance payments and loans granted to the members of administrative, management and supervisory bodies The Group did not give advances or approved loans to members of administrative, management and supervisory bodies during 2025 or 2024. 5. Amount and nature of individual items of income or expenditure which are of exceptional size or incidence Details on the income or expenditure which are of exceptional size or incidence are presented in the Notes to the audited financial statements in the Group’s Annual Report (www.zse.hr). Notes to the annual consolidated financial statements – GFI (continued) 6. Liabilities falling due after more than five years, as well as debts covered by valuable security provided by the Group At the balance sheet date, 31 December 2025, Group does not have the liabilities falling due after more than five years. At the balance sheet date, the Group does not have debts covered by valuable securities provided by the Group. 7. Average number of employees during the reporting period The average number of the employees during the reporting period of 2025 is 36. 8. Capitalized costs of salaries during the reporting period The Group did not capitalize the cost of salaries during the reporting period. 9. Amount of salaries and remunerations approved for the business year to members of administrative, management and supervisory bodies The amount of salaries and remunerations approved for the year 2025 to the members of the administrative, management and supervisory bodies due to their responsibilities and all obligations arising from or agreed upon in connection with the retirement of the former members of these bodies are published in Note 23 Related parties in the Group’s Annual Report (www.zse.hr). 10. Average number of employees by category and personnel costs related to the business year The Group does not divide employees into categories. During 2025, the Group had an average of 36 employees. The income of employees for 2025 broken down into net salaries and wages, the costs of taxes and contributions from salaries, contributions to salaries and other salary expenses that do not include reimbursements of expenses are published in Note 6 Personnel expenses in the Group’s Annual Report (www.zse .hr). 11. Deferred taxes Provisions for deferred taxes, balance of deferred taxes at the beginning and the end of the reporting period, as well as movement of those positions during the reporting period are presented in the Note 9 in the Group’s Annual Report (www.zse.hr). 12. Name and registered office of each of the companies in which the issuer, either itself or through a person acting in their own name but on the issuer's behalf, holds a participating interest, showing the amount of capital held, the amount of total capital and reserves, and profit or loss Information on investments in companies in which the Group holds a participating share in the capital are presented in Note 1 and Note 13 "Investments in associates and joint ventures" (GFI: "Investments in associates, subsidiaries and joint ventures"). 13. Number and nominal value of shares subscribed during the reporting period within the limits of the authorised capital Based on the decision of the Company’s General Assembly dated June 12, 2023, for the purposes of aligning the Company's share capital and parts of that capital that relate to individual shares with the provisions of Article 21 of the Act on Amendments to the Companies Act ("Official Gazette" No. 114/22), all 2,817,150 shares of the Company labelled ZB-R-A with a nominal amount were replaced for shares without a nominal amount. Notes to the annual consolidated financial statements – GFI (continued) 14. Existence of any participation certificates, convertible debentures, warrants, options or similar securities or rights, with an indication of their number and the rights they give The Group has no participation certificates, convertible debentures, warrants, options or similar securities or rights. 15. Name, registered office and legal form of each of the companies in which the issuer has unlimited liability The Group has no shares in companies having unlimited liability. 16. Name and registered office of the company which draws up consolidated financial statements for the reporting period of the largest group of companies of which the issuer forms part as a controlled group member The Company is the final parent company and is not a controlled member of any group. The Company prepares consolidated financial statements that are available for use on the internet page www.zse.hr. 17. Name and registered office of the company which draws up consolidated financial statements for the reporting period of the smallest group of companies of which the issuer forms part as a controlled group member and which is also included in the group of companies referred to in point 13. The Company is the final parent company and is not a controlled member of any group. 18. Place where copies of the consolidated financial statements referred to in points 16 and 17 may be obtained The Company prepares consolidated financial statements that are available for use on the internet page www.zse.hr. 19. Proposed distribution of profits The proposal on the distribution of profits for 2025 for the Company is attached to the Company’s Annual Report, which is published on the website www.zse.hr. 20. Nature and business purpose of the company's arrangements that are not included in the balance sheet and the financial impact on the company of those arrangements, provided that the risks or rewards of such arrangements are material and to the extent that disclosure of such risks or rewards is necessary to assess the issuer's financial position The Group has no arrangements that are not included in the presented consolidated financial statements. 21. Nature and financial effect of significant events that occurred after the balance sheet date and are not reflected in the income statement or balance sheet Events after the balance sheet date are disclosed in the notes to the Annual Report for 2025 which is published on the website www.zse.hr. 22. Net income broken down by segment Segment data are disclosed in Note 24 to the Annual Report for 2025. 23. Total amount of compensation to the auditor for the reporting year The amount of the auditor's fee for the statutory audit of annual financial statements and the amount of other fees to the auditor is published in the notes to the consolidated financial statements in the Group’s Annual Report. | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 |
|---|---|---|---|---|---|---|---|
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Reconciliation of the GFI-POD Balance sheet and consolidated balance from audited financial statements for the year 2025 | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | Balance sheet item (IFRS) | Amount | NaN | Balance sheet item (TFI) | AOP | Amount |
| NaN | NaN | NaN | (EUR) | NaN | NaN | NaN | (EUR) |
| NaN | ASSETS | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | Non-current assets | NaN | 3,854,214 | NaN | A. FIXED ASSETS | 1 | 3,854,214 |
| NaN | NaN | NaN | 273.659 | NaN | I Intangible assets | 2 | 273.659 |
| NaN | NaN | Intangible assets | NaN | NaN | NaN | 2 | NaN |
| NaN | NaN | Goodwill | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | 273.659 | NaN | NaN | NaN | 273.659 |
| NaN | NaN | NaN | 1,080,508 | NaN | II Tangible assets | 3 | 1,080,508 |
| NaN | NaN | Property and equipment | 1,026,185 | NaN | 1 Land and buildings | 4 | 729.204 |
| NaN | NaN | Right-of-use assets | 54.323 | NaN | 2 Computer equipment | 5 | 186.038 |
| NaN | NaN | NaN | - | NaN | 3 Other tangible assets | 6 | 161.993 |
| NaN | NaN | NaN | - | NaN | 4 Leasehold improvements | 7 | 3.273 |
| NaN | NaN | NaN | 1,080,508 | NaN | NaN | NaN | 1,080,508 |
| NaN | NaN | NaN | 2,497,212 | NaN | III Long term financial assets | NaN | 2,497,212 |
| NaN | NaN | Investment in subsidiary | - | NaN | 1 Investments in associates, subsidiaries and joint ventures | 10 | 1,392,066 |
| NaN | NaN | Investment in associate and joint venture | 1,392,066 | NaN | NaN | NaN | - |
| NaN | NaN | NaN | 1,392,066 | NaN | NaN | NaN | NaN |
| NaN | NaN | Long term deposits | 33.166 | NaN | 2 Financial assets at amortised cost (long term) | 12 | 33.166 |
| NaN | NaN | Borrowings to associated company | - | NaN | 2 Financial assets at amortised cost (long term) | NaN | - |
| NaN | NaN | NaN | 33.166 | NaN | NaN | NaN | NaN |
| NaN | NaN | Financial assets at fair value through other comprehensive income | 1,071,980 | NaN | 3 Financial assets at fair value through other comprehensive income | 11 | 1,071,980 |
| NaN | NaN | NaN | 1,071,980 | NaN | NaN | NaN | 1,071,980 |
| NaN | NaN | NaN | 2,497,212 | NaN | NaN | NaN | 2,497,212 |
| NaN | NaN | Deferred tax assets | 2.835 | NaN | Deffered tax assets | 13 | 2.835 |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Reconciliation of the GFI-POD Balance sheet and consolidated balance from audited financial statements for the year 2025 (continued) | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | Balance sheet item (IFRS) | Amount | NaN | Balance sheet item (TFI) | AOP | Amount |
| NaN | NaN | NaN | (EUR) | NaN | NaN | NaN | (EUR) |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | CURRENT ASSETS | NaN | 4,088,310 | NaN | B CURRENT ASSETS | 14 | 4,049,077 |
| NaN | NaN | NaN | - | NaN | I RECEIVABLES | 15 | 550.435 |
| NaN | NaN | Trade receivables and other assets | 782.409 | NaN | 1 Trade receivables | 16 | 411.862 |
| NaN | NaN | NaN | - | NaN | 2 Receivables from employees and members of the undertaking | 17 | - |
| NaN | NaN | 2 Financial assets at fair value through other comprehensive income | - | NaN | 3 Receivables from government and other institutions | 18 | 19.585 |
| NaN | NaN | Financial assets at fair value through other comprehensive income | - | NaN | 4 Receivables from connected undertakings | 19 | - |
| NaN | NaN | NaN | - | NaN | 5 Other receivables | 20 | 118.988 |
| NaN | NaN | NaN | 782.409 | NaN | NaN | NaN | 550.435 |
| NaN | NaN | NaN | 2,802,273 | NaN | II SHORT-TERM FINANCIAL ASSETS | 21 | 2,802,273 |
| NaN | NaN | Short-term deposits | 1,703,572 | NaN | 1 Financial assets at amortised cost | 22 | 1,703,572 |
| NaN | NaN | Financial assets at fair value through other comprehensive income | 235.055 | NaN | 2 Financial assets at fair value through other comprehensive income | 23 | 235.055 |
| NaN | NaN | Financial assets at fair value through profit or loss | 863.646 | NaN | 3 Financial assets at fair value through statement of profit or loss | 24 | 863.646 |
| NaN | NaN | NaN | 2,802,273 | NaN | NaN | NaN | 2,802,273 |
| NaN | NaN | Cash and cash equivalents | 696.369 | NaN | III CASH AND CASH EQUIVALENTS | 25 | 696.369 |
| NaN | NaN | Prepaid expenses | - | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | 66.73 | NaN | C PREPAID EXPENSES AND ACCRUED INCOME | 26 | 298.794 |
| NaN | NaN | NaN | NaN | NaN | C PREPAID EXPENSES AND ACCRUED INCOME | NaN | 298.794 |
| NaN | NaN | Contract assets | 66.73 | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | 66.73 | NaN | NaN | NaN | 298.794 |
| NaN | NaN | TOTAL ASSETS | 8,202,085 | NaN | D TOTAL ASSETS | 27 | 8,202,085 |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Reconciliation of the GFI-POD Balance sheet and consolidated balance from audited financial statements for the year 2025 (continued) | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | Balance sheet item (IFRS) | Amount | NaN | Balance sheet item (TFI) | AOP | Amount |
| NaN | NaN | NaN | (EUR) | NaN | NaN | NaN | (EUR) |
| NaN | CAPITAL AND LIABILITIES | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | 6,503,708 | NaN | A CAPITAL AND RESERVES | 29 | 6,503,708 |
| NaN | NaN | Share capital | 3,076,315 | NaN | I INITIAL CAPITAL | 30 | 3,076,315 |
| NaN | NaN | Share premium | 1,840,947 | NaN | II CAPITAL RESERVES | 31 | 1,840,947 |
| NaN | NaN | NaN | 925.343 | NaN | III PROFIT RESERVES | 32 | 849.612 |
| NaN | NaN | Legal reserves | 18.714 | NaN | 1 Legal reserves | 33 | 18.714 |
| NaN | NaN | Own shares | -23.292 | NaN | 2 Reserves for treasury shares | 34 | -23.292 |
| NaN | NaN | Fer value reserves | 166.884 | NaN | 3 Fair value reserves | 35 | 166.884 |
| NaN | NaN | Other reserves | 688.741 | NaN | 4 Other reserves | 36 | 687.306 |
| NaN | NaN | Actuarial gains / losses | -1.435 | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | 687.306 | NaN | NaN | NaN | 687.306 |
| NaN | NaN | Revaluation reserves | 98 | NaN | IV REVALUATION RESERVES | 37 | 98 |
| NaN | NaN | Translation reserves | -22.269 | NaN | V RESERVES FROM EXCHANGE RATE DIFFERENCES FROM THE TRANSLATION OF FOREIGN OPERATIONS | 38 | -22.269 |
| NaN | NaN | Retained earnings | 661.103 | NaN | IV Retained profit of loss brought forward | 39 | 104.797 |
| NaN | NaN | NaN | - | NaN | V Profit or loss for the year | 40 | 556.306 |
| NaN | NaN | NaN | 661.103 | NaN | NaN | NaN | 661.103 |
| NaN | NaN | NaN | 6,503,708 | NaN | NaN | NaN | 6,503,708 |
| NaN | Non current liabilities | NaN | 53628 | NaN | Long term liabilities and provisions | 47 | 53628 |
| NaN | NaN | Employee benefits | 320 | NaN | B Provisions | 42 | 28.013 |
| NaN | NaN | Long term contract liabilities | 27.693 | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | 28.013 | NaN | NaN | NaN | 28.013 |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | Lease liabilities | 14.625 | NaN | D Long term liabilities | 50 | 25.615 |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | Deferred tax liabilities | - | NaN | E Deferred tax liabilities | 51 | - |
| NaN | NaN | NaN | - | NaN | NaN | NaN | - |
| NaN | NaN | NaN | 53.628 | NaN | NaN | NaN | 53.628 |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Reconciliation of the GFI-POD Balance sheet and consolidated balance from audited financial statements for the year 2025 (continued) | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | Balance sheet item (IFRS) | Amount | NaN | Balance sheet item (TFI) | AOP | Amount |
| NaN | NaN | NaN | (EUR) | NaN | NaN | NaN | (EUR) |
| NaN | NaN | NaN | - | NaN | NaN | NaN | NaN |
| NaN | Short term liabilities | NaN | 817.247 | NaN | C SHORT TERM LIABILITIES | 43 | 610.361 |
| NaN | NaN | NaN | - | NaN | NaN | NaN | NaN |
| NaN | NaN | Trade and other payables | 776.809 | NaN | Trade payables | 44 | 5.6 |
| NaN | NaN | Short term lease liabilitities | 40.438 | NaN | Liabilities to employees | 45 | 145.154 |
| NaN | NaN | NaN | NaN | NaN | Advance payments received | 46 | 124.481 |
| NaN | NaN | NaN | - | NaN | Taxes, contributions and similar liabilities | 47 | 206.769 |
| NaN | NaN | NaN | NaN | NaN | Other short-term liabilities | 48 | 2.356 |
| NaN | NaN | NaN | NaN | NaN | Rounding | 49 | 126.001 |
| NaN | NaN | NaN | 817.247 | NaN | NaN | NaN | 610.361 |
| NaN | NaN | NaN | 827.502 | NaN | F Accruals and deferred income | 52 | 1,034,388 |
| NaN | NaN | Contract liabilities | 637.671 | NaN | NaN | NaN | - |
| NaN | NaN | Accrued expenses | 189.831 | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | 827.502 | NaN | NaN | NaN | 1,034,388 |
| NaN | NaN | Total equity and liabilities | 8,202,085 | NaN | NaN | NaN | 8,202,085 |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| Reconciliation of the GFI-POD Profit and loss account and consolidated other comprehensive income from audited financial statements for the year 2025 | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | NaN | NaN | NaN | NaN | NaN | NaN |
| NaN | NaN | P&L item (IFRS) | Amount | NaN | P&L item (TFI) | NaN | Amount |
| NaN | NaN | NaN | (EUR) | NaN | NaN | NaN | (EUR) |
| NaN | Operating revenues | NaN | 5046750 | NaN | A OPERATING INCOME | 1 | 5,046,750 |
| NaN | NaN | Sales revenue | 3541340 | NaN | I Sales revenue | 2 | 3,541,340 |
| NaN | NaN | Other operating income | 1505410 | NaN | II Other operating income | 8 | 1,505,410 |
| NaN | NaN | Revenue from LEI | - | NaN | NaN | NaN | - |
| NaN | NaN | NaN | 5046750 | NaN | NaN | NaN | 5,046,750 |
| NaN | Operating expenses | NaN | 4498182 | NaN | B OPERATING EXPENSES | 12 | 4,498,182 |
| NaN | NaN | Staff costs | 2278796 | NaN | II Staff costs | 16 | 2,088,277 |
| NaN | NaN | Other employee costs (GFI AOP 22) | -2265701 | NaN | NaN | NaN | - |
| NaN | NaN | NaN | 13095 | NaN | NaN | NaN | 2,088,277 |
| NaN | NaN | NaN | 1892162 | NaN | NaN | NaN | 2,082,681 |
| NaN | NaN | Other operating expenses | 1892162 | NaN | I Material costs | 13 | 1,295,662 |
| NaN | NaN | Expenses reported under Staff costs | 2265701 | NaN | IV Other costs | 21 | 747.798 |
| NaN | NaN | NaN | NaN | NaN | V Value adjustment 024+025 | 22 | 8.931 |
| NaN | NaN | NaN | 0 | NaN | VII Other operating expenses | 26 | 30290 |
| NaN | NaN | NaN | 4157863 | NaN | NaN | NaN | 2,082,681 |
| NaN | NaN | Depreciation and amortization | 327224 | NaN | III Depreciation | 21 | 327.224 |
| NaN | NaN | NaN | - | NaN | NaN | NaN | - |
| NaN | Net finance income | NaN | 71266 | NaN | Net finance income | NaN | 71.266 |
| NaN | NaN | Financial income | 61774 | NaN | C FINANCIAL INCOME | 27 | 77.177 |
| NaN | NaN | Financial expense | -5476 | NaN | D FINANCIAL EXPENSES | 28 | -5.911 |
| NaN | NaN | Dividend income | - | NaN | NaN | NaN | - |
| NaN | NaN | Net losses from changes in fair value of financial assets through profit and loss | 15.83 | NaN | NaN | NaN | - |
| NaN | NaN | Net foreign exchange gain/(loss) | -862 | NaN | NaN | NaN | - |
| NaN | NaN | NaN | 58.556 | NaN | G Share in profit/loss of associates and subsidiaries | NaN | 58.556 |
| NaN | NaN | NaN | 58.556 | NaN | NaN | NaN | 58.556 |
| NaN | Profit before tax | NaN | 678.39 | NaN | H PRE-TAX PROFIT OR LOSS | 43 | 678.39 |
| NaN | Income tax expense | NaN | 122.084 | NaN | I INCOME TAX | 44 | 122.084 |
| NaN | Profit for the year | NaN | 556.306 | NaN | J PROFIT OR LOSS FOR THE PERIOD | 45 | 556.306 |
| NaN | Total other comprehensive profit | NaN | 1.616 | NaN | K OTHER COMPREHENSIVE INCOME | 52 | 1.616 |
| NaN | Total comprehensive profit for the year | NaN | 557.922 | NaN | TOTAL COMPREHENSIVE INCOME | 53 | 557.922 |
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