EXMAR report 2025

5.2 Consolidated financial statements 208 (IN THOUSANDS OF USD) PROPORTIONATE CONSOLIDATION DIFFERENCE EQUITY CONSOLIDATION DECEMBER 31, 2024 Vessels and barges 633,325 -264,751 368,575 Other property, plant and equipment 2,336 0 2,336 Intangible assets 288 -113 175 Right-of-use assets 34,402 -30,149 4,253 Investments in equity accounted investees 1,082 158,605 159,687 Other non-current financial assets 260 0 260 Derivative financial asset 2,047 -1,462 586 Deferred tax assets 4,635 0 4,635 Financial assets at FVTPL 61,133 -112 61,021 Non-current assets 739,508 -137,980 601,528 Assets held for sale 32,467 -17,736 14,731 Derivative financial asset 1,072 0 1,072 Financial assets at FVTPL -112 112 0 Trade and other receivables 137,372 -13,486 123,886 Borrowings to equity accounted investees 2,311 -2,263 48 Current tax assets 4,184 0 4,184 Cash and cash equivalents 355,025 -80,288 274,737 Current assets 532,320 -113,662 418,658 Total assets 1,271,828 -251,642 1,020,186 Equity 609,626 0 609,626 Borrowings 473,494 -195,700 277,794 Other payables & derivatives 1,266 -26 1,240 Employee benefits 785 0 785 Non-current provisions 19,579 -291 19,289 Deferred tax liabilities 0 0 0 Non-current liabilities 495,125 -196,016 299,109 Borrowings 79,425 -40,666 38,759 Trade and other payables 81,205 -14,953 66,252 Current tax liability 6,447 -6 6,441 Current liabilities 167,077 -55,625 111,452 Total equity and liabilities 1,271,828 -251,642 1,020,186