Skip to content
Menu

Sağlama record · BIST: ALVES

Alves Kablo

Alves Kablo (ALVES) shares were removed from the participation indices as of Sep 10, 2026 (KAP disclosure 1661014). The reason given, in Turkish: Paylar Yakın İzleme Pazarı'nda işlem görmeye başladı.

Dated October 17, 2026No. SGL-2025Y-ALVES

The reading of all three ratios in the financial statements for the full year 2025 is not complete; the ratios rest on the items read. The statements will be read again, and the record's result will be given after that.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

statements to be read again
48.2%

On the items read: 0.0% to 48.2%

Calculation and source

Calculation: numerator ÷ denominatorTRY 3,879,823,294÷TRY 8,053,940,492 (total assets)× 100

RatioInterest-bearing loans / total assets

This range rests on the items read from the financial statements, and the statements will be read again.

Debts proven not to count (line 6J of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. The ratio rests on the items read from the financial statements; the statements will be read again. Note 7: “Ortaklara Borçlar” TRY 577,050,413: undetermined, kept in the numerator; “Diğer Borçlar / İlişkili Olmayan Taraflara Diğer Borçlar” TRY 5,852,756: undetermined, kept in the numerator; “Diğer Borçlar / İlişkili Taraflara Diğer Borçlar” TRY 0: undetermined, kept in the numerator. Note 5: “Kısa Vadeli Kredi Borçları” TRY 1,123,073,265: undetermined, kept in the numerator; “Ertelenmiş Finansal Kiralama Borçlanma Maliyetleri” TRY -7,202,214: not counted (proven); “Diğer Uzun Vadeli Borçlanmaların Kısa Vadeli Kısımları” TRY 7,202,214: undetermined, kept in the numerator. Note 5: “Uzun Vadeli Kredi Borçlarının Kısa Vadeli Kısımları” TRY 1,109,395,664: undetermined, kept in the numerator; “Finansal Kiralama İşlemlerinden Borçlar” TRY 81,152,171: not counted (proven); “Ertelenmiş Finansal Kiralama Borçlanma Maliyetleri” TRY -7,202,214: not counted (proven); “Diğer Uzun Vadeli Borçlanmaların Kısa Vadeli Kısımları” TRY 1,034,585,071: undetermined, kept in the numerator. Note 5: “Uzun Vadeli Kredi Borçları” TRY 29,866,125: undetermined, kept in the numerator; “Finansal Kiralama İşlemlerinden Borçlar” TRY 47,760,650: not counted (proven); “Ertelenmiş Finansal Kiralama Borçlanma Maliyetleri” TRY -494,537: not counted (proven). On the items read, the measured range is 0.00% to 48.17%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Ortaklara Borçlar · Other payables, note 7577,050,413undetermined, kept in the numeratorTKBB Guideline 6.1
Diğer Borçlar / İlişkili Olmayan Taraflara Diğer Borçlar · Other payables, note 75,852,756undetermined, kept in the numeratorTKBB Guideline 4.1
Diğer Borçlar / İlişkili Taraflara Diğer Borçlar · Other payables, note 70undetermined, kept in the numeratorTKBB Guideline 6.1
Kısa Vadeli Kredi Borçları · Short-term borrowings, note 51,123,073,265undetermined, kept in the numeratorTKBB Guideline 6.1
Ertelenmiş Finansal Kiralama Borçlanma Maliyetleri · Short-term borrowings, note 5-7,202,214not counted (proven)TKBB Guideline 6.2
Diğer Uzun Vadeli Borçlanmaların Kısa Vadeli Kısımları · Short-term borrowings, note 57,202,214undetermined, kept in the numeratorTKBB Guideline 4.1
Uzun Vadeli Kredi Borçlarının Kısa Vadeli Kısımları · Current portion of long-term borrowings, note 51,109,395,664undetermined, kept in the numeratorTKBB Guideline 6.1
Finansal Kiralama İşlemlerinden Borçlar · Current portion of long-term borrowings, note 581,152,171not counted (proven)TKBB Guideline 6.2
Ertelenmiş Finansal Kiralama Borçlanma Maliyetleri · Current portion of long-term borrowings, note 5-7,202,214not counted (proven)TKBB Guideline 6.2
Diğer Uzun Vadeli Borçlanmaların Kısa Vadeli Kısımları · Current portion of long-term borrowings, note 51,034,585,071undetermined, kept in the numeratorTKBB Guideline 4.1
Uzun Vadeli Kredi Borçları · Long-term borrowings, note 529,866,125undetermined, kept in the numeratorTKBB Guideline 6.1
Finansal Kiralama İşlemlerinden Borçlar · Long-term borrowings, note 547,760,650not counted (proven)TKBB Guideline 6.2
Ertelenmiş Finansal Kiralama Borçlanma Maliyetleri · Long-term borrowings, note 5-494,537not counted (proven)TKBB Guideline 6.2

KAFİF declaration 18.5% (first half 2026) · Sağlama measurement on the items read 0.0% to 48.2% (full year 2025) · the statements will be read again · View the form on KAP

Source: company financial report, full year 2025 statements · Dec 31, 2025

View the documentMethod

Interest-bearing assets

statements to be read again
0.0%

Measured on the items read

Calculation and source

Calculation: numerator ÷ denominatorTRY 98,322÷TRY 8,053,940,492 (total assets)× 100

RatioInterest-bearing cash and securities / total assets

Assets proven not to count (line 5G of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. The ratio rests on the items read from the financial statements; the statements will be read again. Note 4: “Altın Hesabı” TRY 12,123: undetermined, kept in the numerator. Note 3: “Kasa” TRY 31,792: not counted (proven); “Bankalar / Vadesiz Mevduat - TL” TRY 121,788,015: not counted (proven); “Bankalar / Vadesiz Mevduat - Yabancı Para” TRY 114,012,468: not counted (proven); “Bankalar / Vadeli Mevduat - TL” TRY 86,199: counted in the ratio (proven); “Bankalar / Blokeli Mevduat” TRY 0: undetermined, kept in the numerator. On the items read, the measured ratio is 0.00%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Altın Hesabı · Financial investments, note 412,123undetermined, kept in the numerator
Kasa · Cash and cash equivalents, note 331,792not counted (proven)TKBB Guideline 5.2
Bankalar / Vadesiz Mevduat - TL · Cash and cash equivalents, note 3121,788,015not counted (proven)TKBB Guideline 5.2
Bankalar / Vadesiz Mevduat - Yabancı Para · Cash and cash equivalents, note 3114,012,468not counted (proven)TKBB Guideline 5.2
Bankalar / Vadeli Mevduat - TL · Cash and cash equivalents, note 386,199counted in the ratio (proven)TKBB Guideline 5.1
Bankalar / Blokeli Mevduat · Cash and cash equivalents, note 30undetermined, kept in the numeratorTKBB Guideline 5.1

KAFİF declaration 0.0% (first half 2026) · Sağlama measurement on the items read 0.0% to 0.0% (full year 2025) · the statements will be read again · View the form on KAP

Source: company financial report, full year 2025 statements · Dec 31, 2025

View the documentMethod

Excluded income

statements to be read again
1.1%

Measured on the items read

Calculation and source

Calculation: numerator ÷ denominatorTRY 108,246,879÷TRY 10,055,036,260 (total income)× 100

RatioExcluded income / total income

On the KAP form this item is titled “Katılım Finans İlkelerine Uygun Olmayan Gelir”, which means income not in line with participation finance principles.

Income that the notes prove does not count (line 4D of the KAFİF form) was deducted. Items that could not be separated stayed in the numerator, as a precaution. The ratio rests on the items read from the financial statements; the statements will be read again. Excluded income from business activities (line 4B of the KAFİF form) does not appear in the financial statements; it is only in the company's KAFİF declaration on KAP. This measurement sets it to 0. If there is a declaration, the record shows it separately, with a link. Note 21: “Reeskont Faiz Gelirleri” TRY 72,948,532: undetermined, kept in the numerator; “Ticari Kur Farkı Gelirleri” TRY 10,356,213: not counted (proven); “Sigorta Tazminat Gelirleri” TRY 45,000: not counted (proven); “Kosgeb Gelirleri” TRY 166,544: undetermined, kept in the numerator; “Konusu Kalmayan Karşılıklar” TRY 681,064: not counted (proven); “Teşvik Gelirleri” TRY 4,125,025: not counted (proven); “Vade Farkı Gelirleri” TRY 142,668,306: not counted (proven); “Diğer Gelirler” TRY 9,298,258: undetermined, kept in the numerator; and 1 more line. Note 22: “Kur Farkı Geliri” TRY 46,978,251: not counted (proven); “Faiz Geliri” TRY 23,483,702: counted in the ratio (proven). Note 23: “Duran Varlık Satış Karı” TRY 76,578,807: not counted (proven); “Menkul Kıymet Satış Kârı” TRY 0: undetermined, kept in the numerator; “Hisse Senetleri Fon Satış Karı” TRY 2,349,843: undetermined, kept in the numerator. On the items read, the measured range is 0.23% to 1.08%.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Reeskont Faiz Gelirleri · Other income from operating activities, note 2172,948,532undetermined, kept in the numerator
Ticari Kur Farkı Gelirleri · Other income from operating activities, note 2110,356,213not counted (proven)TKBB Guideline 4.2
Sigorta Tazminat Gelirleri · Other income from operating activities, note 2145,000not counted (proven)TKBB Guideline 4.2
Kosgeb Gelirleri · Other income from operating activities, note 21166,544undetermined, kept in the numerator
Konusu Kalmayan Karşılıklar · Other income from operating activities, note 21681,064not counted (proven)TKBB Guideline 4.2
Teşvik Gelirleri · Other income from operating activities, note 214,125,025not counted (proven)TKBB Guideline 4.2
Vade Farkı Gelirleri · Other income from operating activities, note 21142,668,306not counted (proven)TKBB Guideline 4.2
Diğer Gelirler · Other income from operating activities, note 219,298,258undetermined, kept in the numeratorTKBB Guideline 4.1
Faaliyetlerle İlgili Diğer Gelirler · Other income from operating activities, note 210undetermined, kept in the numeratorTKBB Guideline 4.1
Kur Farkı Geliri · Finance income, note 2246,978,251not counted (proven)TKBB Guideline 4.2
Faiz Geliri · Finance income, note 2223,483,702counted in the ratio (proven)TKBB Guideline 4.1
Duran Varlık Satış Karı · Income from investing activities, note 2376,578,807not counted (proven)TKBB Guideline 4.2
Menkul Kıymet Satış Kârı · Income from investing activities, note 230undetermined, kept in the numeratorTKBB Guideline 4.1
Hisse Senetleri Fon Satış Karı · Income from investing activities, note 232,349,843undetermined, kept in the numeratorTKBB Guideline 4.2

KAFİF declaration 1.6% (first half 2026) · Sağlama measurement on the items read 0.2% to 1.1% (full year 2025) · the statements will be read again · View the form on KAP

Source: company financial report, full year 2025 statements · Dec 31, 2025

View the documentMethod

The three ratios are calculated from the financial statements, and each bar is scaled to its own threshold. The measurement uses the company's latest published statements, and every record states the period. The official review uses audited six- and twelve-month statements (Standard 3.4), so the periods can differ. Method

This record is produced by Sağlama's calculation from the financial statements the company publishes. The method and the corrections log are public. Responsible for this record: Savaş Tutumlu, founder.

Official list record

Official list
Not on the BIST Participation All Shares list · Index period from October 2026 to April 2027Source: Borsa Istanbul's list of constituents, Oct 1, 2026
Latest official change

Removed from the BIST Participation All Shares and BIST Participation 100 indices as of September 10, 2026, during the index period. The shares started trading on the Watchlist Market. Source: KAP disclosure 1661014

The period page that lists this change

Changes this period
These shares are not among the changes Borsa Istanbul announced for this period.Source: Borsa Istanbul announcement, Sep 29, 2026
Next period
Starts on May 1, 2027. Borsa Istanbul is expected to announce the new list by April 29, 2027 at the latest (Ground Rules 2.17).

Status history

5 entries

Each period's record and every correction are kept with their dates. Method

  1. Earlier measurementTKBB rules, August 2025, version 1 · full year 2025: at least one ratio above the threshold. Income 3.88% · assets 2.93% · loans 49.68%.
  2. Removed from the indexRemoved from the BIST Participation All Shares and BIST Participation 100 indices as of September 10, 2026, during the index period. The shares started trading on the Watchlist Market. Announced in KAP disclosure 1661014 on September 9, 2026.
  3. Earlier measurementTKBB rules, August 2025, version 1 · full year 2025: depends on the company's declaration. Income 1.08% · assets 0.00% · loans 48.08%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · full year 2025: depends on the company's declaration. Income 1.08% · assets 0.00% · loans 48.08%.
  5. MeasurementTKBB rules, August 2025, version 3 · full year 2025: statements to be read again. Income 0.23% to 1.08% · assets 0.00% · loans 0.00% to 48.17%. The ratios rest on the items read.THIS RECORD

Documents and sources

Source links lead to documents published by the company and by Borsa Istanbul. We do not copy KAP documents. Method

  • ALVES financial report, Dec 31, 2025 (company investor relations site)Dec 31, 2025 · Fingerprint 49695a990f5f… · fingerprint of the downloaded file 973a88fd50aa…View the document
  • Sağlama's calculation and methodTKBB rules, August 2025, version 3Read the method

If a figure looks wrong, write to bilgi@saglama.com. We correct it and record the correction with its date in the corrections log.

What this measurement covers

This record's financial statements will be read again. The ratios rest on the items read; the record's result will be given after the new reading. Method

The company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 1.6%, interest-bearing assets 0.0%, interest-bearing loans 18.5%. View the form on KAP

The company's answers to the four yes/no questions on the form:

Do the articles of association of the company, its corporate shareholders or its affiliates include an activity that does not follow participation finance principles?
No
Do the company's articles of association grant a privilege that does not follow participation finance principles?
No
Has the company made a statement or decision supporting the actions defined in Standard 1.5 and TKBB Guideline 1.D?
No
Does the company have activities or income directly contrary to participation finance principles?
No

Purification calculation

Dividend-based method · CALCULATOR (DIVIDEND-BASED METHOD)

Purification calculator

A company within the threshold can still have a small amount of excluded income (interest income and other income the standard excludes). Under the TKBB standard, the part of this income that falls to your shares is given to charitable causes. This duty applies whether the company made a profit or a loss, and whether or not it paid a dividend. The amount set aside does not replace zakat or sadaqa.

CALCULATION SLIPALVES · full year 2025
Number of shares
500
Gross dividend per share
TRY 2.40
Gross dividend (500 × 2.40)
TRY 1,200.00
Excluded income ratio
1.1%
Purification amount
TRY 12.96

Purification amount = gross dividend × excluded income ratio

The number of shares and the dividend are sample inputs. The ratio comes from the company's measurement. To calculate with your own figures, use the purification page.

Purification amount = gross dividend × excluded income ratio (dividend-based method). Under TKBB Standard 3.6.1, purification is needed even if the company makes a loss or pays no dividend. The method page quotes TKBB Standard 3.6, including the inflation deduction under 3.6.2. The ratio rests on the items read; the statements will be read again, so the ratio and the amount may change. On the items read, the measured range is 0.23% to 1.08%; the purification amount is calculated with the 1.08% found from the items read.

  • Excluded income is the part of a company's earnings that is not in line with participation finance principles. On the KAP form it is called “income not in line with participation finance principles.”
  • Purification is done even if the company makes a loss.
  • Purification is needed even if no dividend is paid. The calculation here uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method), which this calculator does not do yet.
  • The purification amount does not replace zakat or sadaqa. Under the TKBB standard, it is given away, not kept.
  • You give the amount yourself, to a charitable cause of your choice. Sağlama does not direct donations.

This calculation uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method). The standard is quoted on the method page.

Get an alert if it changes

Your address is kept so that we can tell you when the status of ALVES changes. Alerts start when the sending service goes live. At most one or two e-mails a month. You can unsubscribe with one click.

Your address is used only for these alerts.

Other companies not on the list

The 12 companies just before and after this one in alphabetical order among the companies not on the BIST Participation All Shares list. All companies: Company list.