{"id":575,"date":"2025-12-26T21:27:25","date_gmt":"2025-12-26T18:27:25","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=575"},"modified":"2025-12-26T22:18:05","modified_gmt":"2025-12-26T19:18:05","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-lidfa-lider-factoring-2025-9-bilanco-analizi","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/575","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #LIDFA | Lider Factoring 2025\/9 Bilan\u00e7o Analizi"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #LIDFA | Lider Factoring 2025\/9 Bilan\u00e7o Analizi\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/z7RN1mrwEPA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h1>Rakamlar Konu\u015fuyor: Bir Finans Devinin Bilan\u00e7osundan 4 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek<\/h1>\n<p>G\u00fcndelik ticaretin h\u0131zla akt\u0131\u011f\u0131, faturalar\u0131n kesildi\u011fi ve \u00f6demelerin yap\u0131ld\u0131\u011f\u0131 devasa bir ekonomik d\u00f6ng\u00fcn\u00fcn i\u00e7indeyiz. Peki, bu \u00e7arklar\u0131n sorunsuz d\u00f6nmesini sa\u011flayan, g\u00f6r\u00fcn\u00fcrde olmayan finansal mekanizmalar\u0131n ne kadar b\u00fcy\u00fck oldu\u011funu hi\u00e7 merak ettiniz mi? Bir \u015firketin finansal raporu, sadece o \u015firketin de\u011fil, ayn\u0131 zamanda hizmet verdi\u011fi ekonominin de sa\u011fl\u0131\u011f\u0131 ve dinamizmi hakk\u0131nda \u015fa\u015f\u0131rt\u0131c\u0131 ipu\u00e7lar\u0131 bar\u0131nd\u0131rabilir.<\/p>\n<p>Bu merakla, Lider Faktoring A.\u015e.&#8217;nin 30 Eyl\u00fcl 2025 tarihinde sona eren ara d\u00f6neme ait konsolide finansal raporunu inceledik. Rakamlar\u0131n derinliklerine indik\u00e7e, T\u00fcrkiye ekonomisinin k\u0131lcal damarlar\u0131nda dola\u015fan finansman\u0131n \u00f6l\u00e7e\u011fini g\u00f6zler \u00f6n\u00fcne seren d\u00f6rt \u00e7arp\u0131c\u0131 ger\u00e7ekle kar\u015f\u0131la\u015ft\u0131k. \u0130\u015fte o rapordan \u00e7\u0131kard\u0131\u011f\u0131m\u0131z, bir finans \u015firketinin ne kadar b\u00fcy\u00fck bir ekonomik motor olabilece\u011fini g\u00f6steren d\u00f6rt \u015fa\u015f\u0131rt\u0131c\u0131 ke\u015fif.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2><b>1. Sadece 9 Ayda Neredeyse %50 B\u00fcy\u00fcme: Ak\u0131l Almaz Bir Geni\u015fleme H\u0131z\u0131<\/b><\/h2>\n<p>Bir finans \u015firketinin &#8220;Toplam Varl\u0131klar\u0131&#8221;, en basit tan\u0131m\u0131yla, \u015firketin sahip oldu\u011fu ve alacaklar\u0131 da d\u00e2hil olmak \u00fczere her \u015feyin toplam de\u011ferini ifade eder. Bu rakam, \u015firketin ekonomik b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fcn ve operasyonel kapasitesinin en net g\u00f6stergesidir.<\/p>\n<p>Lider Faktoring&#8217;in raporundaki en dikkat \u00e7ekici bulgu, \u015firketin bu alandaki inan\u0131lmaz b\u00fcy\u00fcme h\u0131z\u0131 oldu. Grubun toplam varl\u0131klar\u0131, 2024 sonunda <b>7,7 milyar TL<\/b> (7.674.291 Bin TL) iken, sadece dokuz ay sonra, 30 Eyl\u00fcl 2025&#8217;te <b>11,3 milyar TL<\/b>&#8216;ye (11.318.432 Bin TL) ula\u015ft\u0131. Bu, dokuz ay gibi k\u0131sa bir s\u00fcrede yakla\u015f\u0131k <b>%47,5&#8217;lik<\/b> bir b\u00fcy\u00fcmeye i\u015faret ediyor.<\/p>\n<p>Bu patlay\u0131c\u0131 b\u00fcy\u00fcme, T\u00fcrkiye&#8217;deki i\u015fletmelerin finansman talebinde ne denli ciddi bir art\u0131\u015f ya\u015fand\u0131\u011f\u0131n\u0131 ve Lider Faktoring&#8217;in bu talebi kar\u015f\u0131layarak pazar pay\u0131n\u0131 ne kadar etkin bir \u015fekilde geni\u015fletti\u011fini g\u00f6steriyor. Peki, bu varl\u0131klar\u0131 bu kadar h\u0131zl\u0131 b\u00fcy\u00fcten ana motor neydi? Cevap, \u015firketin temel faaliyet alan\u0131nda yat\u0131yor.<\/p>\n<h2><b>2. 9,5 Milyar Liral\u0131k Devasa Alacak: Faktoringin Ger\u00e7ek G\u00fcc\u00fc<\/b><\/h2>\n<p>Faktoring, en temel anlam\u0131yla, bir i\u015fletmenin vadesi gelmemi\u015f faturalar\u0131n\u0131 (alacaklar\u0131n\u0131) bir faktoring \u015firketine iskonto ile satarak an\u0131nda nakde ula\u015fmas\u0131n\u0131 sa\u011flayan bir finansman hizmetidir. Bu hizmet, \u015firketlerin nakit ak\u0131\u015flar\u0131n\u0131 d\u00fczenleyerek ticari faaliyetlerini kesintisiz s\u00fcrd\u00fcrmelerine olanak tan\u0131r.<\/p>\n<p>Lider Faktoring&#8217;in bilan\u00e7osu, bu hizmetin ne kadar devasa bir \u00f6l\u00e7ekte sunuldu\u011funu ortaya koyuyor. Grubun 30 Eyl\u00fcl 2025 itibar\u0131yla net &#8220;Faktoring Alacaklar\u0131&#8221; tam <b>9,5 milyar TL<\/b>&#8216;ye (9.482.046 Bin TL) ula\u015fm\u0131\u015f durumda. Bu rakam, 2024 sonunda <b>6,2 milyar TL<\/b> (6.233.214 Bin TL) seviyesindeydi; bu da ana faaliyet alan\u0131ndaki g\u00fc\u00e7l\u00fc b\u00fcy\u00fcmeyi bir kez daha teyit ediyor.<\/p>\n<p>Bu rakam\u0131n \u00f6nemi, sadece bir \u015firketin b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc g\u00f6stermesi de\u011fil, ayn\u0131 zamanda \u00fclke ekonomisindeki binlerce i\u015fletmenin sorunsuz \u00e7al\u0131\u015fmas\u0131 i\u00e7in bu t\u00fcr bir finansman\u0131n ne kadar hayati oldu\u011funu kan\u0131tlamas\u0131d\u0131r. Bu, reel sekt\u00f6r\u00fcn \u00e7arklar\u0131n\u0131 d\u00f6nd\u00fcren milyarlarca liral\u0131k bir finansman g\u00fcc\u00fcd\u00fcr. Bu kadar b\u00fcy\u00fck bir ticari hacmi finanse etmek, hem b\u00fcy\u00fck bir gelir potansiyeli hem de devasa bir maliyet anlam\u0131na gelir. Bu denge k\u00e2rl\u0131l\u0131\u011fa nas\u0131l yans\u0131yor?<\/p>\n<h2><b>3. Milyarlarca Liral\u0131k Gidere Ra\u011fmen Gelen Y\u00fcksek K\u00e2rl\u0131l\u0131k<\/b><\/h2>\n<p>Bir finans \u015firketinin i\u015fleyi\u015fi, y\u00fcksek gelir ve ayn\u0131 zamanda y\u00fcksek maliyet dinamiklerine dayan\u0131r. Lider Faktoring&#8217;in k\u00e2r veya zarar tablosu bu durumu net bir \u015fekilde \u00f6zetliyor. Grup, 2025&#8217;in ilk dokuz ay\u0131nda yakla\u015f\u0131k <b>3,5 milyar TL<\/b> (3.472.509 Bin TL) &#8220;Esas Faaliyet Geliri&#8221; elde etti.<\/p>\n<p>Ancak madalyonun di\u011fer y\u00fcz\u00fcnde, m\u00fc\u015fterilerini finanse etmek i\u00e7in bor\u00e7lanmas\u0131 gerekti\u011finden, ayn\u0131 d\u00f6nemde <b>2,5 milyar TL<\/b>&#8216;yi (2.531.676 Bin TL) a\u015fan \u00e7ok y\u00fcksek bir &#8220;Finansman Gideri&#8221; olu\u015ftu. Bu, i\u015fin do\u011fas\u0131 gere\u011fi ne kadar y\u00fcksek maliyetli bir operasyon oldu\u011funu g\u00f6steriyor.<\/p>\n<p>T\u00fcm bu devasa giderlere ra\u011fmen, Grubun &#8220;D\u00f6nem Net K\u00e2r\u0131&#8221; <b>658 milyon TL<\/b> (658.060 Bin TL) olarak ger\u00e7ekle\u015fti. Bu k\u00e2rl\u0131l\u0131k, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki <b>457 milyon TL<\/b>&#8216;lik (456.815 Bin TL) k\u00e2ra k\u0131yasla yakla\u015f\u0131k <b>%44&#8217;l\u00fck<\/b> bir art\u0131\u015f anlam\u0131na geliyor. Bu rakamlar, y\u00fcksek maliyetlere ra\u011fmen i\u015f modelinin \u00f6l\u00e7eklendi\u011finde ne kadar verimli ve k\u00e2rl\u0131 olabildi\u011fini kan\u0131tl\u0131yor.<\/p>\n<h2><b>4. Bilan\u00e7onun Arkas\u0131ndaki G\u00f6r\u00fcnmez G\u00fcvenlik Duvar\u0131: 73 Milyar Liral\u0131k Teminat<\/b><\/h2>\n<p>Milyarlarca liral\u0131k operasyonlar\u0131 y\u00fcksek k\u00e2rla y\u00f6netmek, ancak kaya gibi sa\u011flam bir risk y\u00f6netimiyle m\u00fcmk\u00fcnd\u00fcr. \u0130\u015fte burada bilan\u00e7onun sat\u0131r aralar\u0131nda gizlenen, g\u00f6r\u00fcnmez bir g\u00fcvenlik duvar\u0131 devreye giriyor. Finansal raporlar\u0131n ana tablolar\u0131n\u0131n yan\u0131 s\u0131ra, adeta bir \u015firketin &#8220;not defteri&#8221; gibi i\u015flev g\u00f6ren &#8220;Naz\u0131m Hesaplar&#8221; b\u00f6l\u00fcm\u00fc vard\u0131r. Burada, \u015firketin do\u011frudan borcu veya varl\u0131\u011f\u0131 olmayan ama \u00fcstlendi\u011fi devasa garantiler ve taahh\u00fctler izlenir. Al\u0131nan Teminatlar da bu gizli g\u00fcc\u00fcn en \u00f6nemli par\u00e7as\u0131d\u0131r.<\/p>\n<p>Lider Faktoring&#8217;in raporunda bu &#8220;gizli&#8221; kalemin ula\u015ft\u0131\u011f\u0131 boyut ger\u00e7ekten ba\u015f d\u00f6nd\u00fcr\u00fcc\u00fc. 30 Eyl\u00fcl 2025 itibar\u0131yla Grubun m\u00fc\u015fterilerinden ald\u0131\u011f\u0131 teminatlar\u0131n (kefalet, \u00e7ek, senet vb.) toplam\u0131 <b>73,5 milyar TL<\/b>&#8216;ye (73.477.989 Bin TL) yakla\u015f\u0131yor. Bu rakam, 2024 sonunda <b>46,1 milyar TL<\/b> (46.127.027 Bin TL) idi; yani \u015firketin risk y\u00f6netimi \u00f6l\u00e7e\u011fi de operasyonlar\u0131yla birlikte b\u00fcy\u00fcm\u00fc\u015f.<\/p>\n<p>Bilan\u00e7onun ana kalemlerinde g\u00f6r\u00fcnmeyen bu rakam, asl\u0131nda en etkileyici olanlardan biri. \u00c7\u00fcnk\u00fc finanse edilen milyarlarca liral\u0131k ekonomik aktivitenin arkas\u0131nda duran bu devasa g\u00fcvenlik a\u011f\u0131, binlerce KOB\u0130&#8217;nin bir y\u0131ll\u0131k faaliyetini finanse etmeye yetecek kadar b\u00fcy\u00fck bir g\u00fcvenceyi temsil ediyor ve finans sekt\u00f6r\u00fcnde ne kadar b\u00fcy\u00fck bir risk y\u00f6netiminin gerekti\u011fini g\u00f6zler \u00f6n\u00fcne seriyor.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h3><b>Sonu\u00e7<\/b><\/h3>\n<p>Bir finansal raporun sat\u0131r aralar\u0131, sadece rakamlardan \u00e7ok daha fazlas\u0131n\u0131 anlat\u0131r. Lider Faktoring&#8217;in durumunda bu, ba\u015f d\u00f6nd\u00fcr\u00fcc\u00fc bir b\u00fcy\u00fcme h\u0131z\u0131n\u0131, reel ekonomiyi besleyen milyarlarca liral\u0131k operasyonel g\u00fcc\u00fc, y\u00fcksek maliyetlere ra\u011fmen elde edilen etkileyici k\u00e2rl\u0131l\u0131\u011f\u0131 ve t\u00fcm bu sistemin arkas\u0131ndaki devasa g\u00fcvenlik a\u011f\u0131n\u0131 ortaya koyuyor.<\/p>\n<p>Peki, bu devasa rakamlar, ekonominin k\u0131lcal damarlar\u0131nda dola\u015fan finansman\u0131n g\u00fcc\u00fcn\u00fc ve gelece\u011fe dair potansiyelini nas\u0131l yans\u0131t\u0131yor?<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">Lider Faktoring A.\u015e. 30 Eyl\u00fcl 2025 Finansal Durum Raporu \u00dczerine Brifing<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Lider Faktoring A.\u015e. ve ba\u011fl\u0131 ortakl\u0131\u011f\u0131n\u0131n (&#8220;Grup&#8221;) 30 Eyl\u00fcl 2025&#8217;te sona eren dokuz ayl\u0131k ara d\u00f6neme ait konsolide finansal tablolar\u0131, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla varl\u0131k, gelir ve k\u00e2rl\u0131l\u0131kta g\u00fc\u00e7l\u00fc bir b\u00fcy\u00fcme sergilemektedir. Grubun toplam varl\u0131klar\u0131, 2024 sonuna g\u00f6re %47,5 artarak 11,3 milyar TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r. Bu b\u00fcy\u00fcmenin ana itici g\u00fcc\u00fc, %52,1 art\u0131\u015fla 9,5 milyar TL&#8217;ye y\u00fckselen net faktoring alacaklar\u0131d\u0131r.<\/p>\n<p>Bu geni\u015fleme, al\u0131nan kredilerdeki (%48,4 art\u0131\u015f) ve ihra\u00e7 edilen menkul k\u0131ymetlerdeki (%132,8 art\u0131\u015f) \u00f6nemli art\u0131\u015flarla finanse edilmi\u015ftir. Finansal performans a\u00e7\u0131s\u0131ndan, Grubun 2025&#8217;in ilk dokuz ay\u0131ndaki net d\u00f6nem k\u00e2r\u0131, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %44,1 artarak 658 milyon TL&#8217;ye y\u00fckselmi\u015ftir. Hisse ba\u015f\u0131na kazan\u00e7 da 0,81814&#8217;ten 1,17856&#8217;ya \u00e7\u0131karak bu pozitif tabloyu desteklemi\u015ftir.<\/p>\n<p>KPMG Ba\u011f\u0131ms\u0131z Denetim taraf\u0131ndan ger\u00e7ekle\u015ftirilen s\u0131n\u0131rl\u0131 denetim sonucunda, finansal tablolar\u0131n BDDK Muhasebe ve Finansal Raporlama Mevzuat\u0131&#8217;na uygun olarak t\u00fcm \u00f6nemli y\u00f6nleriyle ger\u00e7e\u011fe uygun bir bi\u00e7imde sunulmad\u0131\u011f\u0131 kanaatine varmalar\u0131na sebep olacak herhangi bir hususun dikkatlerini \u00e7ekmedi\u011fi belirtilmi\u015ftir. Rapor, Grubun b\u00fcy\u00fcme stratejisini ba\u015far\u0131yla uygulad\u0131\u011f\u0131n\u0131 ve operasyonel hacmini \u00f6nemli \u00f6l\u00e7\u00fcde art\u0131rd\u0131\u011f\u0131n\u0131 g\u00f6stermektedir.<\/p>\n<h2>1. Raporun Kapsam\u0131 ve Denet\u00e7i G\u00f6r\u00fc\u015f\u00fc<\/h2>\n<p>Bu brifing, Lider Faktoring A.\u015e. (&#8220;\u015eirket&#8221;) ve ba\u011fl\u0131 ortakl\u0131\u011f\u0131 Denge Varl\u0131k Y\u00f6netim A.\u015e.&#8217;den olu\u015fan Grubun 30 Eyl\u00fcl 2025 tarihinde sona eren dokuz ayl\u0131k ara hesap d\u00f6nemine ait konsolide finansal tablolar\u0131n\u0131 ve ilgili dipnotlar\u0131 analiz etmektedir.<\/p>\n<ul>\n<li><b>Denet\u00e7i Firma:<\/b> KPMG Ba\u011f\u0131ms\u0131z Denetim ve Serbest Muhasebeci Mali M\u00fc\u015favirlik A.\u015e.<\/li>\n<li><b>Rapor Tarihi:<\/b> 10 Kas\u0131m 2025, \u0130stanbul<\/li>\n<li><b>Sorumlu Denet\u00e7i:<\/b> Duygu Avc\u0131, SMMM<\/li>\n<li><b>Denetim Kapsam\u0131:<\/b> Rapor, tam bir ba\u011f\u0131ms\u0131z denetimden daha dar kapsaml\u0131 olan S\u0131n\u0131rl\u0131 Ba\u011f\u0131ms\u0131z Denetim Standard\u0131 (SBDS) 2410&#8217;a uygun olarak y\u00fcr\u00fct\u00fclen bir &#8220;s\u0131n\u0131rl\u0131 denetim&#8221; \u00e7al\u0131\u015fmas\u0131d\u0131r. Bu nedenle, bir ba\u011f\u0131ms\u0131z denetim g\u00f6r\u00fc\u015f\u00fc bildirilmemektedir.<\/li>\n<li><b>Denet\u00e7i Sonucu:<\/b> KPMG, y\u00fcr\u00fctt\u00fc\u011f\u00fc s\u0131n\u0131rl\u0131 denetim neticesinde, ili\u015fikteki ara d\u00f6nem konsolide finansal tablolar\u0131n BDDK Muhasebe ve Finansal Raporlama Mevzuat\u0131&#8217;na g\u00f6re \u00f6nemli bir yanl\u0131\u015fl\u0131k i\u00e7ermedi\u011fi sonucuna varm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h2>2. Anahtar Finansal Performans (K\u00e2r veya Zarar Tablosu)<\/h2>\n<p>Grup, 2025&#8217;in ilk dokuz ay\u0131nda, \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla t\u00fcm temel performans g\u00f6stergelerinde \u00f6nemli bir art\u0131\u015f kaydetmi\u015ftir. Esas faaliyet gelirlerindeki %60&#8217;l\u0131k art\u0131\u015f, k\u00e2rl\u0131l\u0131ktaki b\u00fcy\u00fcmeyi tetiklemi\u015ftir. Artan fonlama maliyetlerine ra\u011fmen, net k\u00e2r %44 oran\u0131nda artm\u0131\u015ft\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Gelir ve Gider Kalemleri (Bin TL)<\/td>\n<td>1 Ocak &#8211; 30 Eyl\u00fcl 2025<\/td>\n<td>1 Ocak &#8211; 30 Eyl\u00fcl 2024<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td><b>Esas Faaliyet Gelirleri<\/b><\/td>\n<td>3.472.509<\/td>\n<td>2.161.159<\/td>\n<td>+%60,7<\/td>\n<\/tr>\n<tr>\n<td>Finansman Giderleri (-)<\/td>\n<td>(2.531.676)<\/td>\n<td>(1.463.261)<\/td>\n<td>+%73,0<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r\/Zarar<\/b><\/td>\n<td><b>940.833<\/b><\/td>\n<td><b>697.898<\/b><\/td>\n<td><b>+%34,8<\/b><\/td>\n<\/tr>\n<tr>\n<td>Esas Faaliyet Giderleri (-)<\/td>\n<td>(469.259)<\/td>\n<td>(363.989)<\/td>\n<td>+%28,9<\/td>\n<\/tr>\n<tr>\n<td>Di\u011fer Faaliyet Gelirleri<\/td>\n<td>512.401<\/td>\n<td>349.188<\/td>\n<td>+%46,7<\/td>\n<\/tr>\n<tr>\n<td><b>S\u00fcrd\u00fcr\u00fclen Faaliyetler Vergi \u00d6ncesi K\u00e2r\u0131<\/b><\/td>\n<td><b>937.782<\/b><\/td>\n<td><b>651.776<\/b><\/td>\n<td><b>+%43,9<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nem Net K\u00e2r\u0131<\/b><\/td>\n<td><b>658.060<\/b><\/td>\n<td><b>456.815<\/b><\/td>\n<td><b>+%44,1<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Kapsaml\u0131 Gelir<\/b><\/td>\n<td><b>690.952<\/b><\/td>\n<td><b>540.070<\/b><\/td>\n<td><b>+%27,9<\/b><\/td>\n<\/tr>\n<tr>\n<td>Hisse Ba\u015f\u0131na K\u00e2r (Tam TL)<\/td>\n<td>1,17856<\/td>\n<td>0,81814<\/td>\n<td>+%44,1<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Gelir Art\u0131\u015f\u0131:<\/b> Faktoring alacaklar\u0131ndan al\u0131nan faizler, 2,1 milyar TL&#8217;den 3,4 milyar TL&#8217;ye y\u00fckselerek gelir art\u0131\u015f\u0131n\u0131n ana kayna\u011f\u0131 olmu\u015ftur.<\/li>\n<li><b>Gider Art\u0131\u015f\u0131:<\/b> B\u00fcy\u00fcmeyi finanse etmek i\u00e7in kullan\u0131lan kredilere ve ihra\u00e7 edilen menkul k\u0131ymetlere \u00f6denen faizleri i\u00e7eren finansman giderleri de paralel bir art\u0131\u015f g\u00f6stermi\u015ftir.<\/li>\n<li><b>Operasyonel Verimlilik:<\/b> Esas faaliyet giderlerindeki art\u0131\u015f oran\u0131n\u0131n (%28,9), gelirlerdeki art\u0131\u015f oran\u0131ndan (%60,7) daha d\u00fc\u015f\u00fck olmas\u0131, operasyonel verimlili\u011fin artt\u0131\u011f\u0131na i\u015faret etmektedir.<\/li>\n<\/ul>\n<h2>3. Finansal Durum Analizi (Bilan\u00e7o)<\/h2>\n<p>Grup, 30 Eyl\u00fcl 2025 itibar\u0131yla g\u00fc\u00e7l\u00fc bir bilan\u00e7o b\u00fcy\u00fcmesi sergilemi\u015ftir. Toplam varl\u0131klar, 2024 y\u0131l sonuna k\u0131yasla dokuz ayda 3,6 milyar TL&#8217;nin \u00fczerinde artm\u0131\u015ft\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Bilan\u00e7o Kalemleri (Bin TL)<\/td>\n<td>30 Eyl\u00fcl 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td><b>Varl\u0131k Toplam\u0131<\/b><\/td>\n<td><b>11.318.432<\/b><\/td>\n<td><b>7.674.291<\/b><\/td>\n<td><b>+%47,5<\/b><\/td>\n<\/tr>\n<tr>\n<td>Nakit ve Nakit Benzerleri<\/td>\n<td>280.279<\/td>\n<td>166.985<\/td>\n<td>+%67,8<\/td>\n<\/tr>\n<tr>\n<td>Faktoring Alacaklar\u0131 (Net)<\/td>\n<td>9.482.046<\/td>\n<td>6.233.214<\/td>\n<td>+%52,1<\/td>\n<\/tr>\n<tr>\n<td>\u0130tfa Edilmi\u015f Maliyeti \u0130le \u00d6l\u00e7\u00fclen Di\u011fer Finansal Varl\u0131klar<\/td>\n<td>918.156<\/td>\n<td>754.947<\/td>\n<td>+%21,6<\/td>\n<\/tr>\n<tr>\n<td>Maddi Duran Varl\u0131klar (Net)<\/td>\n<td>513.286<\/td>\n<td>417.345<\/td>\n<td>+%23,0<\/td>\n<\/tr>\n<tr>\n<td><b>Y\u00fck\u00fcml\u00fcl\u00fck Toplam\u0131<\/b><\/td>\n<td><b>8.718.646<\/b><\/td>\n<td><b>5.765.457<\/b><\/td>\n<td><b>+%51,2<\/b><\/td>\n<\/tr>\n<tr>\n<td>Al\u0131nan Krediler<\/td>\n<td>7.061.535<\/td>\n<td>4.758.366<\/td>\n<td>+%48,4<\/td>\n<\/tr>\n<tr>\n<td>\u0130hra\u00e7 Edilen Menkul K\u0131ymetler (Net)<\/td>\n<td>962.024<\/td>\n<td>413.422<\/td>\n<td>+%132,8<\/td>\n<\/tr>\n<tr>\n<td>Kiralama \u0130\u015flemlerinden Bor\u00e7lar<\/td>\n<td>400.097<\/td>\n<td>349.290<\/td>\n<td>+%14,5<\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6zkaynaklar<\/b><\/td>\n<td><b>2.599.786<\/b><\/td>\n<td><b>1.908.834<\/b><\/td>\n<td><b>+%36,2<\/b><\/td>\n<\/tr>\n<tr>\n<td>\u00d6denmi\u015f Sermaye<\/td>\n<td>558.360<\/td>\n<td>558.360<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<tr>\n<td>K\u00e2r Yedekleri<\/td>\n<td>1.046.791<\/td>\n<td>390.118<\/td>\n<td>+%168,3<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nem Net K\u00e2r\u0131<\/td>\n<td>658.060<\/td>\n<td>656.673<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><b>Varl\u0131k B\u00fcy\u00fcmesi:<\/b> Toplam varl\u0131klardaki 3,6 milyar TL&#8217;lik art\u0131\u015f\u0131n 3,2 milyar TL&#8217;si net faktoring alacaklar\u0131ndaki b\u00fcy\u00fcmeden kaynaklanmaktad\u0131r. Bu durum, Grubun ana faaliyet alan\u0131nda pazar pay\u0131n\u0131 ve hacmini art\u0131rd\u0131\u011f\u0131n\u0131 g\u00f6stermektedir.<\/li>\n<li><b>Finansman Yap\u0131s\u0131:<\/b> B\u00fcy\u00fcme, b\u00fcy\u00fck \u00f6l\u00e7\u00fcde d\u0131\u015f kaynaklarla finanse edilmi\u015ftir. Al\u0131nan krediler 2,3 milyar TL, ihra\u00e7 edilen menkul k\u0131ymetler ise 549 milyon TL artm\u0131\u015ft\u0131r.<\/li>\n<li><b>\u00d6zkaynak G\u00fcc\u00fc:<\/b> D\u00f6nem k\u00e2r\u0131n\u0131n etkisiyle toplam \u00f6zkaynaklar 691 milyon TL artarak Grubun sermaye yap\u0131s\u0131n\u0131 g\u00fc\u00e7lendirmi\u015ftir. K\u00e2r yedeklerindeki %168&#8217;lik art\u0131\u015f dikkat \u00e7ekicidir.<\/li>\n<\/ul>\n<h2>4. \u015eirket ve Grup Yap\u0131s\u0131<\/h2>\n<ul>\n<li><b>Ana \u015eirket (Lider Faktoring A.\u015e.):<\/b> 1992 y\u0131l\u0131nda &#8220;\u015eetat Faktoring A.\u015e.&#8221; unvan\u0131yla kurulmu\u015f olup, s\u0131nai ve ticari \u015firketlere faktoring hizmetleri sunmaktad\u0131r. \u015eirket paylar\u0131 2014 y\u0131l\u0131ndan beri Borsa \u0130stanbul (B\u0130ST) Ana Pazar&#8217;da i\u015flem g\u00f6rmektedir.<\/li>\n<li><b>Ba\u011fl\u0131 Ortakl\u0131k (Denge Varl\u0131k Y\u00f6netim A.\u015e.):<\/b> \u015eirket, varl\u0131k y\u00f6netimi alan\u0131nda faaliyet g\u00f6steren Denge Varl\u0131k Y\u00f6netim A.\u015e.&#8217;nin %100&#8217;\u00fcne sahiptir. Finansal tablolar, bu ba\u011fl\u0131 ortakl\u0131\u011f\u0131 tam konsolidasyon y\u00f6ntemiyle i\u00e7ermektedir.<\/li>\n<li><b>Ortakl\u0131k Yap\u0131s\u0131:<\/b> \u015eirketin %42,07&#8217;si halka a\u00e7\u0131k olup, kalan paylar ger\u00e7ek ki\u015filer aras\u0131nda da\u011f\u0131lm\u0131\u015ft\u0131r. Ana hissedarlar ve pay oranlar\u0131 a\u015fa\u011f\u0131daki gibidir:\n<ul>\n<li>Nedim Menda: %29,12<\/li>\n<li>Jak Sucaz: %19,42<\/li>\n<li>Refka B. Adato: %6,24<\/li>\n<li>Di\u011fer: %3,39<\/li>\n<\/ul>\n<\/li>\n<li><b>\u0130stihdam:<\/b> Grup, 30 Eyl\u00fcl 2025 itibar\u0131yla 161 personel istihdam etmektedir (31 Aral\u0131k 2024: 155).<\/li>\n<\/ul>\n<h2>5. Riskler ve Naz\u0131m Hesaplar<\/h2>\n<ul>\n<li><b>Naz\u0131m Hesaplar:<\/b> Grubun bilan\u00e7o d\u0131\u015f\u0131 y\u00fck\u00fcml\u00fcl\u00fckleri ve teminatlar\u0131 \u00f6nemli \u00f6l\u00e7\u00fcde artm\u0131\u015ft\u0131r. Bu durum, artan i\u015f hacmi ve kredi riski y\u00f6netimi stratejileriyle tutarl\u0131d\u0131r.\n<ul>\n<li><b>Al\u0131nan Teminatlar:<\/b> 31 Aral\u0131k 2024&#8217;te 46,1 milyar TL olan al\u0131nan teminatlar, 30 Eyl\u00fcl 2025&#8217;te 73,5 milyar TL&#8217;ye y\u00fckselmi\u015ftir. Bu, faktoring alacaklar\u0131ndaki art\u0131\u015fa paralel olarak kredi riskini g\u00fcvence alt\u0131na alma \u00e7abas\u0131n\u0131 g\u00f6stermektedir.<\/li>\n<li><b>Emanet K\u0131ymetler:<\/b> M\u00fc\u015fteri \u00e7ek ve senetlerinden olu\u015fan emanet k\u0131ymetler 6,8 milyar TL&#8217;den 9,8 milyar TL&#8217;ye \u00e7\u0131km\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<\/li>\n<li><b>Davalar:<\/b> Grup aleyhine a\u00e7\u0131lm\u0131\u015f 140 adet dava bulunmakta olup toplam tutar\u0131 14,9 milyon TL&#8217;dir. Y\u00f6netim, bu davalar\u0131n kaybedilme olas\u0131l\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fck g\u00f6rd\u00fc\u011f\u00fcnden herhangi bir kar\u015f\u0131l\u0131k ay\u0131rmam\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h2>6. Temel Muhasebe Politikalar\u0131<\/h2>\n<ul>\n<li><b>Raporlama Standartlar\u0131:<\/b> Finansal tablolar, BDDK taraf\u0131ndan yay\u0131mlanan y\u00f6netmelikler ile T\u00fcrkiye Muhasebe\/Finansal Raporlama Standartlar\u0131&#8217;na (TMS\/TFRS) uygun olarak haz\u0131rlanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Enflasyon Muhasebesi:<\/b> BDDK&#8217;n\u0131n 5 Aral\u0131k 2024 tarihli karar\u0131 uyar\u0131nca, finansal kiralama, faktoring, finansman, tasarruf finansman ve varl\u0131k y\u00f6netim \u015firketlerinin 2025 y\u0131l\u0131nda enflasyon muhasebesi (TMS 29) uygulamamas\u0131na karar verilmi\u015ftir. Bu nedenle, 30 Eyl\u00fcl 2025 tarihli tablolar enflasyon etkisine g\u00f6re d\u00fczeltilmemi\u015ftir.<\/li>\n<li><b>Beklenen Kredi Zarar\u0131 (BKZ):<\/b> Grup, faktoring alacaklar\u0131 ve di\u011fer finansal varl\u0131klar\u0131 i\u00e7in TFRS 9 kapsam\u0131nda &#8220;beklenen kredi zarar\u0131&#8221; modelini uygulamaktad\u0131r. De\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc kar\u015f\u0131l\u0131klar\u0131 3 a\u015famal\u0131 modele g\u00f6re (A\u015fama 1, 2 ve 3) hesaplanmaktad\u0131r. 30 Eyl\u00fcl 2025 itibar\u0131yla faktoring alacaklar\u0131 i\u00e7in ayr\u0131lan toplam de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc kar\u015f\u0131l\u0131\u011f\u0131 48,4 milyon TL&#8217;dir.<\/li>\n<\/ul>\n<button class=\"simplefavorite-button\" data-postid=\"575\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Bu belgeler, **Lider Faktoring** \u015firketinin 30 Eyl\u00fcl 2025 tarihi itibar\u0131yla haz\u0131rlanan **faaliyet raporunu** ve **konsolide finansal tablolar\u0131n\u0131** kapsaml\u0131 bir \u015fekilde sunmaktad\u0131r. \u015eirketin 1992 y\u0131l\u0131ndaki kurulu\u015fundan bug\u00fcne kadarki **stratejik geli\u015fimi**, ortakl\u0131k yap\u0131s\u0131 ve T\u00fcrkiye genelindeki **15 \u015fubelik hizmet a\u011f\u0131** detayland\u0131r\u0131lmaktad\u0131r. Metinlerde, firman\u0131n **KOB\u0130 odakl\u0131 finansman \u00e7\u00f6z\u00fcmleri**, risk y\u00f6netimi politikalar\u0131 ve i\u015ftiraki olan **Denge Varl\u0131k Y\u00f6netim A.\u015e.** ile olan kurumsal ba\u011flar\u0131 \u00fczerinde durulmaktad\u0131r. Ayr\u0131ca, **ba\u011f\u0131ms\u0131z denetimden ge\u00e7mi\u015f** g\u00fcncel mali veriler, operasyonel hedefler ve sekt\u00f6rdeki rekabet\u00e7i konumu verilerle analiz edilmektedir. Kaynaklar, yat\u0131r\u0131mc\u0131lar ve payda\u015flar i\u00e7in \u015firketin **y\u00f6netim kurulu kararlar\u0131n\u0131**, k\u00e2r da\u011f\u0131t\u0131m ilkelerini ve gelece\u011fe y\u00f6nelik **vizyonunu** \u00f6zetleyen resmi bir rehber niteli\u011fi ta\u015f\u0131maktad\u0131r.<\/p>\n","protected":false},"author":1,"featured_media":603,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[129],"class_list":["post-575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-lidfa"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=575"}],"version-history":[{"count":2,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/575\/revisions"}],"predecessor-version":[{"id":604,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/575\/revisions\/604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/603"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}