EXMAR report 2025

5.2 Consolidated financial statements 214 Note 13 - Vessels and barges (IN THOUSANDS OF USD) SHIPPING INFRASTRUCTURE UNDER CONSTRUCTION - ADVANCE PAYMENTS TOTAL COST Balance as per January 1, 2024 282,443 237,130 0 519,573 Changes during the financial year Acquisitions  6,883 275 0 7,157 Disposals  -24,452 0 0 -24,452 Transfer to assets held for sale -26,650 0 0 -26,650 Early buy out option 3,267 0 0 3,267 Balance as per December 31, 2024 241,490 237,405 0 478,895 Balance as per January 1, 2025 241,490 237,405 0 478,895 Changes during the financial year Acquisitions 2,062 0 25,743 27,805 Early buy out option 1,959 0 0 1,959 Disposals  0 -221 0 -221 Transfer to assets held for sale -28,714 0 0 -28,714 Balance as per December 31, 2025 216,796 237,184 25,743 479,723 DEPRECIATIONS AND IMPAIRMENT LOSSES Balance as per January 1, 2024 65,160 38,665 0 103,826 Changes during the financial year Depreciations 18,592 10,201 0 28,793 Disposals  -10,380 0 0 -10,380 Transfer to assets held for sale -11,918 0 0 -11,918 Balance as per December 31, 2024 61,454 48,866 0 110,321 Balance as per January 1, 2025 61,454 48,866 0 110,321 Changes during the financial year Depreciations 12,357 10,173 22,530 Disposals  0 -221 -221 Transfer to assets held for sale -13,297 0 -13,297 Balance as per December 31, 2025 60,514 58,818 0 119,333 NET BOOK VALUE Net book value as per December 31, 2024 180,036 188,538 0 368,575 Balance as per December 31, 2025 156,282 178,365 25,743 360,390