The Ministry of Health has begun an unscheduled financial audit of the university hospital "N. I. Pirogov" in Sofia, which covers the period from the beginning of 2025 to mid-2026, BGNES reports. The reason for the audit is the decapitalization of the state-owned company and the huge accumulated losses, exceeding 17 million euros, despite the reported slight current profit over the past year.
The medical institution, which is a sole proprietorship with 100% state participation, operates under conditions of operational autonomy. This limits the direct intervention of the state in its daily management, it is clear from a written response of the Minister of Health Katya Ivkova to the National Assembly.
„As of December 31, 2025, the medical institution registered a positive current financial result – a profit of nearly 382 thousand euros. Compared to the reported loss of 3.22 million euros for 2023 and the registered profit of 1.28 million euros for 2024, a continuation of the positive trend is observed", the minister notes. However, she emphasizes that the overall financial result at the end of last year was negative – loss of 17.69 million euros.
Although the hospital's equity increased and reached 29.69 million euros by the end of 2025, it remained below the amount of subscribed capital (44.93 million euros), which means that the company is decapitalized.
The hospital's total liabilities at the end of last year amounted to 29.83 million euros. Of these, liabilities to suppliers are over 5 million euros, and those to staff - 3.86 million euros. The largest item is liabilities to financial institutions, which reach 18.27 million euros. The management of the medical institution reports a lack of overdue debts.
„In 2025, compared to the previous reporting period, an increase in the company's total revenues and total expenses was reported, with the increase in the revenue side by 7.53 percent and in the expense side by 8.60 percent," explains Katya Ivkova.
Last year's total revenues reached 101.47 million euros, while expenses amounted to 101.08 million euros. The most serious growth was observed in personnel expenses (an increase of 5.47 million euros) and for raw materials and external services (an increase of 2.78 million euros).
According to the latest interim data as of June 30, 2026, the hospital generated revenues of 52.11 million euros and expenses of 50.8 million euros. The total accumulated loss, however, remains high - over 16.1 million euros, and liabilities have jumped to 37.52 million euros.
In response to these results, an unscheduled audit engagement has been ordered, which will undermine not only the financial condition of “Pirogov”, but also the management of the company's assets in the Tsarevo municipality, as well as possible unrecognized expenses from the National Health Insurance Fund.
“Following the completion of the audit engagement, additional information on the results may be provided,” Ivkova assures, adding that the Ministry of Health will continue to seek effective and transparent management of state hospitals.