Bulgarian earnings desk: agents read Q3 2026 reports
- Capability
- A team of AI agents reads long Bulgarian filings, argues about what matters and passes code and fact checks, with every quote traced back to its filing.
- In practice
- An experiment on the Q3 2026 interim reports of the 40 BGBX40 companies: 31 companies read, 418 findings extracted, 5 published with their filing links.
- Limits
- Research only, not investment advice. Mostly standalone reports, and 9 companies had no readable report. The canvas replays a recorded run: nothing is called live.
- Runs
- 4
- Model calls
- 309
- Pages read
- 1,846
- API-equivalent
- USD 44.32at API list prices
- Run 1 14:49 to 15:19Ranks 1 to 20157 calls · USD 15.72
- Run 2 15:21 to 15:39Ranks 21 to 40, OCR64 calls · USD 11.15
- Run 3 17:03 to 17:23Long documents in full, CCB77 calls · USD 16.29
- Run 4 17:24 to 17:29Backfill, CCB consolidated search11 calls · USD 1.16
Retrieve and parse
1,846pages sent to readers
Reader agents
418findings extracted
Quote check
374quotes found verbatim
Analyst
15top findings ranked
Bull
argues for
Skeptic
argues against
Fact checker
15verified
Writer
5published
Translator
Bulgarian edition
5 published findings
Observations on public filings, not investment advice. Each passed the quote check in code and a separate fact check.
- SLYG
Shelly Group
Signed an investment agreement with a Schneider Electric subsidiary, which registered a cash tender offer of EUR 70.00 per share with the FSC on 28.09.2026. The offer still needs FSC approval.
- AGH
Agria Group Holding
A revolving working capital loan of EUR 19,744 thousand was fully drawn at 30.09.2026 and matures on 30.11.2026. It rests on one table row.
- EUBG
Eurohold Bulgaria
A warrant exercise took the share count from 260,500,000 to 520,940,000. A code check found the stated capital is EUR 30,000 below shares times the EUR 0.51 nominal, possibly a typo in the filing.
- CHIM
Chimimport
Short term payables to subsidiaries rose to EUR 114,025 thousand at 30.09.2026, from EUR 87,946 thousand at 31.12.2025. Parent company figures.
- MONB
Monbat
A UBB facility of EUR 22,000,000 had EUR 21,399 thousand drawn at 30.09.2026 and matures on 31.12.2026. It rests on one table row.
A visual replay of the run logged on 7 Nov 2026. It does not call any model, browse or spend anything. Stage counts are the final state after run 4. Cost is the API-equivalent at list prices, as the agent tooling reported it; the run itself used a subscription.
Goal
Can an auditable team of AI agents read Bulgarian quarterly reports and pull out material, source backed facts without losing the accounting context? Research only: no trades, no picks, no return claims.
Scope: the 40 BGBX40 constituents listed on infostock.bg on 7 Nov 2026, and their Q3 2026 interim reports from x3news.com published 2 Sep to 6 Nov 2026.
How it ran
- Code fetched the reports, removed duplicate files by hash, extracted the text and ran OCR where needed.
- Reader agents, one per company, read each document in full and returned every finding with a verbatim Bulgarian quote, a page and a labelled machine translation.
- Code dropped any finding whose quote is not in the filing or whose numbers are not in the quote.
- An analyst agent ranked the findings and reviewed its own top 15.
- A bull and a skeptic argued each top finding. A separate fact checker reread the source; a failed finding was replaced by the next verified one, and every swap is logged.
- A writer drafted the five observations. Code checked its numbers against the verified quotes and used the verified text where they differed.
Every call went to the same frontier model through a command-line agent: 309 calls over 4 runs and 72.8 minutes of run time (159.6 minutes from first start to last finish, including fixes between runs).
Misses and limits
- Missing reports. No Q3 report was found for 3 companies (HVAR, HES, BPF). They are logged as missing, not as zero.
- Forms only. 6 companies filed only the regulator's Excel forms, so the agents had no text to read. 31 of 40 were read.
- Standalone, mostly. Most reports read were standalone. Two consolidated documents were read: the consolidated Q3 report of First Investment Bank (FIB) and the consolidated financial position notice of Telelink Business Services (TBS). All 5 published findings come from standalone reports. No consolidated Q3 report for CCB was found.
- Checker bugs. The first code check was too strict on dates and number formats, and one PDF used a control character as a word space. Two pipeline passes were thrown away; their 94 calls are in the totals.
- Fact checker error. It wrongly rejected the Shelly Group finding over a valid period label. Its instructions were fixed and the five rejected findings rechecked: two passed.
- Backfills. The other three still failed and were replaced by the next verified finding from the same company.
- Miscount. The run 2 report said 14 documents were cut by the reader limit. The real number was 17; run 3 read all of them in full.
- Thin evidence. The Agria Group Holding and Monbat items each rest on one table row. One file was mislabelled as a scan; no published finding relies on OCR.
Nice to have
- A look back at whether the five findings held up, misses included.
- Consolidated reports and inside information disclosures.
- The same pipeline on other Bulgarian document work, such as tenders and due diligence.
Want an auditable agent workflow like this on your own documents? Let’s talk.