Judgment of the Court (Seventh Chamber) of 9 July 2026.#Institut po ribni resursi Varna v Rakovoditel na Natsionalnia organ po Savmestna operativna programa za transgranichno satrudnichestvo „Chernomorski baseyn 2014-2020“ i direktor na direktsia „Upravlenie na teritorialnoto satrudnichestvo“.#Reference for a preliminary ruling – Own resources of the European Union – Protection of the European Union’s financial interests – Regulation (EC, Euratom) No 2988/95 – European Regional Development Fund (ERDF) – Regulation (EU) No 1303/2013 – European Neighbourhood Instrument (ENI) – Regulation (EU) No 232/2014 – Implementing Regulation (EU) No 897/2014 – Cross-border Cooperation Programme for the Black Sea Region – Public procurement – Directive 2014/24/EU – Direct award – Concept of ‘irregularity’ – Late performance of the service – Failure to implement a penalty clause – Financial corrections – Proportionality – Reasons for the decision imposing the financial correction.#Case C-186/25.