CMB.TECH
ActiveSummary
CMB.TECH has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.12bn and a net result of €779.3m, of which €582.0m non-recurring income. Equity remains stable across the filed financial years (±0.4% per year). The computed 12-month bankruptcy probability is 0.5% (very low).
Financials · financial year 2024, full format, standalone accounts, 2025 accounts filed, figures not processed yet
In the rankings
#1 company by total assets in Belgium, Water transport sector#1 company by equity in Belgium, Water transport sector#6 employer in the province of Antwerp, Water transport sector
Turnover
€637.5m▼ 44.8%
2023 · €1.16bn
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
€779.3m▼ 8.7%
2023 · €853.5m
Working capital
€195.7m▼ 46.1%
2023 · €363.0m
Trend over the years
2018 to 2024, 5 financial years 2018 to 2024, 5 financial years
The operating result falls in 2024; 2024 is 7% below 2023.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€637.5m
2024
Operating result€835.2m
2024
Net result€779.3m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€3,505.8m
2024
Equity€2,122.4m
2024
Debt€1,383.4m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€195.7m
2024
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)22.2%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency60.5%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.75
2024
Average staff in full-time equivalents (FTE).
Staff (FTE)47.4
2024
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 50, Water transport: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182020202120232024
Turnover€553.3m-€1,230.2m-€434.7m▼ 64.7%€1,155.0m-€637.5m▼ 44.8%
Operating result-€57.8m-€525.6m--€189.9m€899.9m-€835.2m▼ 7.2%
Net result-€116.6m-€452.7mabove the sector's middle half--€250.7mbelow the sector's middle half€853.5mabove the sector's middle half-€779.3mabove the sector's middle half▼ 8.7%
Equity€2,073.4m-€2,381.1mabove the sector's middle half-€2,112.2mabove the sector's middle half▼ 11.3%€2,401.6mabove the sector's middle half-€2,122.4mabove the sector's middle half▼ 11.6%
Total assets€4,938.9m-€3,545.4mabove the sector's middle half-€3,745.1mabove the sector's middle half▲ 5.6%€3,250.1mabove the sector's middle half-€3,505.8mabove the sector's middle half▲ 7.9%
Debt€2,863.0m-€1,161.8m-€1,629.1m▲ 40.2%€848.5m-€1,383.4m▲ 63.0%
Working capital-€323.0m-€372.7mabove the sector's middle half-€265.6mabove the sector's middle half▼ 28.7%€363.0mabove the sector's middle half-€195.7mabove the sector's middle half▼ 46.1%
Solvency42.0%-67.2%above the sector's middle half-56.4%within the sector's middle half▼ 10.8pp73.9%above the sector's middle half-60.5%within the sector's middle half▼ 13.4pp
Current ratio0.77-4.37above the sector's middle half-2.13within the sector's middle half▼ 2.241.94within the sector's middle half-1.75within the sector's middle half▼ 0.18
Return on assets (ROA)-2.4%-12.8%above the sector's middle half--6.7%below the sector's middle half▼ 19.5pp26.3%above the sector's middle half-22.2%above the sector's middle half▼ 4.0pp
Staff (FTE)33.9-46.1above the sector's middle half-43.1above the sector's middle half▼ 6.5%44.2above the sector's middle half-47.4above the sector's middle half▲ 7.2%
above
within
below
the middle half of NACE 50, Water transport: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.51bn
Fixed assets
€3.05bn ▲ 22.0%
Current assets
€455.7m ▼ 39.3%
Equity and liabilities €3.51bn
Equity
€2.12bn ▼ 11.6%
Debt
€1.38bn ▲ 63.0%
Debt's share of the balance-sheet total rises from 26.1% to 39.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€944.7m▼
2023 · €1.09bn
Cash flow
€888.8m▼
2023 · €1.04bn
Quick ratio
1.72▼
2023 · 1.88
Debt to equity
0.65▲
2023 · 0.35
ROE
36.7%▲
2023 · 35.5%
Interest coverage
12.57▲
2023 · 10.30
Debt ≤ 1 year
€260.0m▼
2023 · €387.2m
Debt > 1 year
€1.10bn▲
2023 · €440.5m
Income taxes
€2.0m▼
2023 · €3.4m
Staff costs
€8.7m▼
2023 · €9.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,136 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95.0%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,136 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2018 | 2020 | 2021 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €599.2m | €1,285.5m | €483.4m | €1,548.4m | €1,243.9m | ▼ 19.7% |
| Turnover70 | €553.3m | €1,230.2m | €434.7m | €1,155.0m | €637.5m | ▼ 44.8% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €0.02m | - | - | - | - | - |
| Other operating income74 | €25.2m | €28.2m | €29.2m | €28.7m | €24.4m | ▼ 15.2% |
| Non-recurring operating income76A | €20.7m | €27.1m | €19.5m | €364.7m | €582.0m | ▲ 59.6% |
| Operating charges60/66A | €657.0m | €759.9m | €673.2m | €648.5m | €408.6m | ▼ 37.0% |
| Services and other goods61 | €444.9m | €487.3m | €476.9m | €451.8m | €290.0m | ▼ 35.8% |
| Remuneration, social security and pensions62 | €7.8m | €9.8m | €7.2m | €9.1m | €8.7m | ▼ 4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €204.1m | €263.5m | €187.6m | €188.9m | €109.5m | ▼ 42.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €1.0m | - | - | €0.2m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€0.5m | -€1.8m | €1.2m | -€1.5m | - | - |
| Other operating charges640/8 | €0.6m | €0.09m | €0.3m | €0.1m | €0.2m | ▲ 66.7% |
| Operating profit (loss)9901 | -€57.8m | €525.6m | -€189.9m | €899.9m | €835.2m | ▼ 7.2% |
| Financial income75/76B | €12.5m | €17.7m | €14.6m | €112.7m | €65.7m | ▼ 41.7% |
| Recurring financial income75 | €12.5m | €17.7m | €14.6m | €90.3m | €65.7m | ▼ 27.3% |
| Income from financial fixed assets750 | €0.1m | - | €2.0m | €25.0m | €39.8m | ▲ 59.2% |
| Income from current assets751 | €1.8m | €3.5m | €1.9m | €22.5m | €12.4m | ▼ 45.0% |
| Other financial income752/9 | €10.6m | €14.2m | €10.7m | €42.8m | €13.5m | ▼ 68.5% |
| Non-recurring financial income76B | - | - | - | €22.4m | - | - |
| Financial charges65/66B | €67.4m | €87.5m | €72.8m | €155.7m | €119.7m | ▼ 23.1% |
| Recurring financial charges65 | €67.4m | €87.5m | €53.7m | €155.7m | €119.7m | ▼ 23.1% |
| Debt charges650 | €41.4m | €42.5m | €47.0m | €105.7m | €75.2m | ▼ 28.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | €2.5m | €12.4m | -€12.4m | - | €19.9m | - |
| Other financial charges652/9 | €23.6m | €32.5m | €19.1m | €49.9m | €24.7m | ▼ 50.6% |
| Non-recurring financial charges66B | - | - | €19.0m | - | - | - |
| Profit (loss) for the period before taxes9903 | -€112.7m | €455.9m | -€248.0m | €857.0m | €781.2m | ▼ 8.8% |
| Income taxes67/77 | €3.9m | €3.2m | €2.7m | €3.4m | €2.0m | ▼ 42.7% |
| Taxes670/3 | €3.9m | €3.2m | €3.1m | €3.4m | €2.0m | ▼ 42.7% |
| Tax adjustments and reversals of tax provisions77 | - | - | €0.4m | - | €466 | - |
| Profit (loss) for the period9904 | -€116.6m | €452.7m | -€250.7m | €853.5m | €779.3m | ▼ 8.7% |
| Profit (loss) for the period to be appropriated9905 | -€116.6m | €452.7m | -€250.7m | €853.5m | €779.3m | ▼ 8.7% |
| Line | 2018 | 2020 | 2021 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4,938.9m | €3,545.4m | €3,745.1m | €3,250.1m | €3,505.8m | ▲ 7.9% |
| Fixed assets21/28 | €3,878.2m | €3,062.1m | €3,243.7m | €2,499.9m | €3,050.2m | ▲ 22.0% |
| Intangible fixed assets21 | €172 | €0.1m | €0.07m | - | €0.5m | - |
| Tangible fixed assets22/27 | €3,234.7m | €2,872.1m | €3,060.4m | €2,312.3m | €1,414.3m | ▼ 38.8% |
| Plant, machinery and equipment23 | €3,234.2m | €2,664.2m | €2,878.5m | €2,205.3m | €1,284.6m | ▼ 41.7% |
| Furniture and vehicles24 | €0.3m | €0.4m | €0.3m | €0.4m | €0.3m | ▼ 21.7% |
| Other tangible fixed assets26 | - | €0.5m | €0.3m | €0.1m | €0.1m | ▼ 9.8% |
| Assets under construction and advance payments27 | €0.2m | €207.1m | €181.3m | €106.5m | €129.3m | ▲ 21.4% |
| Financial fixed assets28 | €643.5m | €189.9m | €183.2m | €187.6m | €1,635.3m | ▲ 772% |
| Affiliated companies280/1 | €643.5m | €176.7m | €170.0m | €187.5m | €1,635.3m | ▲ 772% |
| Participating interests280 | €608.9m | €160.0m | €158.5m | €187.5m | €1,635.3m | ▲ 772% |
| Amounts receivable281 | €34.6m | €16.7m | €11.5m | - | - | - |
| Other financial fixed assets284/8 | - | €13.2m | €13.2m | €0.03m | €0.006m | ▼ 79.9% |
| Amounts receivable and cash guarantees285/8 | - | €13.2m | €13.2m | €0.03m | €0.006m | ▼ 79.9% |
| Current assets29/58 | €1,060.7m | €483.3m | €501.4m | €750.2m | €455.7m | ▼ 39.3% |
| Amounts receivable after more than one year29 | €7.6m | €1.1m | €0.5m | - | - | - |
| Other amounts receivable291 | €7.6m | €1.1m | €0.5m | - | - | - |
| Stocks and contracts in progress3 | - | €75.8m | €69.0m | €21.2m | €9.4m | ▼ 55.5% |
| Stocks30/36 | - | €75.8m | €69.0m | €21.2m | €9.4m | ▼ 55.5% |
| Goods purchased for resale34 | - | €75.8m | €69.0m | €21.2m | €9.4m | ▼ 55.5% |
| Amounts receivable within one year40/41 | €909.7m | €181.7m | €191.1m | €248.4m | €157.9m | ▼ 36.4% |
| Trade receivables40 | €98.7m | €177.1m | €185.5m | €242.3m | €142.5m | ▼ 41.2% |
| Other amounts receivable41 | €811.0m | €4.6m | €5.6m | €6.1m | €15.4m | ▲ 153% |
| Current investments50/53 | €67.3m | €147.9m | €160.3m | €296.3m | €260.8m | ▼ 12.0% |
| Own shares50 | €8.8m | €147.9m | €160.3m | €153.8m | €260.8m | ▲ 69.6% |
| Other investments51/53 | €58.5m | - | - | €142.5m | - | - |
| Cash at bank and in hand54/58 | €27.4m | €56.8m | €64.5m | €167.2m | €17.0m | ▼ 89.9% |
| Deferred charges and accrued income490/1 | €48.7m | €20.0m | €16.0m | €17.1m | €10.5m | ▼ 38.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4,938.9m | €3,545.4m | €3,745.1m | €3,250.1m | €3,505.8m | ▲ 7.9% |
| Equity10/15 | €2,073.4m | €2,381.1m | €2,112.2m | €2,401.6m | €2,122.4m | ▼ 11.6% |
| Contributions10/11 | €239.1m | €1,941.7m | €1,941.7m | €1,705.7m | €699.6m | ▼ 59.0% |
| Capital10 | €239.1m | €239.1m | €239.1m | €239.1m | €239.1m | = |
| Issued capital100 | €239.1m | €239.1m | €239.1m | €239.1m | €239.1m | = |
| Contributions outside capital11 | €1,702.5m | €1,702.5m | €1,702.5m | €1,466.5m | €460.5m | ▼ 68.6% |
| Share premium1100/10 | - | €1,702.5m | €1,702.5m | €1,466.5m | €460.5m | ▼ 68.6% |
| Reserves13 | €75.1m | €233.4m | €233.4m | €226.9m | €353.9m | ▲ 56.0% |
| Non-distributable reserves130/1 | - | €172.3m | €184.7m | €178.2m | €285.3m | ▲ 60.1% |
| Legal reserve130 | €17.3m | €23.9m | €23.9m | €23.9m | €23.9m | = |
| Reserves not available under the articles1311 | €0.3m | - | - | - | - | - |
| Own shares acquired1312 | - | €147.9m | €160.3m | €153.8m | €260.8m | ▲ 69.6% |
| Other1319 | - | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 17.8% |
| Tax-exempt reserves132 | €48.6m | €48.6m | €48.6m | €48.6m | €48.6m | = |
| Distributable reserves133 | - | €12.4m | - | - | €19.9m | - |
| Profit (loss) carried forward14 | €56.6m | €206.0m | -€62.8m | €469.1m | €1,068.9m | ▲ 128% |
| Provisions and deferred taxes16 | €2.4m | €2.5m | €3.7m | - | - | - |
| Provisions for liabilities and charges160/5 | €2.4m | €2.5m | €3.7m | - | - | - |
| Other liabilities and charges164/5 | €2.4m | €2.5m | €3.7m | - | - | - |
| Amounts payable17/49 | €2,863.0m | €1,161.8m | €1,629.1m | €848.5m | €1,383.4m | ▲ 63.0% |
| Amounts payable after more than one year17 | €1,443.3m | €1,033.8m | €1,381.5m | €440.5m | €1,103.7m | ▲ 151% |
| Financial debts170/4 | €1,443.3m | €1,033.8m | €1,381.5m | €440.5m | €1,103.7m | ▲ 151% |
| Credit institutions173 | €1,383.3m | €856.3m | €1,186.5m | €263.5m | €918.7m | ▲ 249% |
| Other loans174 | €60.0m | €177.5m | €195.0m | €177.0m | €185.0m | ▲ 4.5% |
| Amounts payable within one year42/48 | €1,383.7m | €110.6m | €235.7m | €387.2m | €260.0m | ▼ 32.9% |
| Current portion of amounts payable after more than one year42 | €134.1m | €20.5m | €33.9m | €152.3m | €52.0m | ▼ 65.8% |
| Financial debts43 | €60.3m | €38.7m | €148.9m | €87.4m | €178.8m | ▲ 105% |
| Credit institutions430/8 | €60.3m | €38.7m | €104.0m | €87.4m | €62.8m | ▼ 28.1% |
| Other loans439 | - | - | €44.9m | - | €116.0m | - |
| Trade debts44 | €22.9m | €35.9m | €43.4m | €72.4m | €21.0m | ▼ 71.0% |
| Suppliers440/4 | €22.9m | €35.9m | €43.4m | €72.4m | €21.0m | ▼ 71.0% |
| Taxes, remuneration and social security45 | €2.0m | €3.5m | €0.7m | €1.0m | €0.7m | ▼ 29.8% |
| Taxes450/3 | €0.01m | €0.2m | €0.4m | €0.1m | - | - |
| Remuneration and social security454/9 | €2.0m | €3.3m | €0.2m | €0.9m | €0.7m | ▼ 22.1% |
| Other amounts payable47/48 | €1,164.4m | €12.0m | €8.9m | €74.2m | €7.5m | ▼ 89.9% |
| Accrued charges and deferred income492/3 | €36.0m | €17.4m | €11.9m | €20.8m | €19.7m | ▼ 5.1% |
| Line | 2018 | 2020 | 2021 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€116.6m | €452.7m | -€250.7m | €853.5m | €779.3m | ▼ 8.7% |
| + Depreciation and write-downs630 | €204.1m | €263.5m | €187.6m | €188.9m | €109.5m | ▼ 42.0% |
| Operating cash flow (approximation) | €87.5m | €716.1m | -€63.1m | €1,042.4m | €888.8m | ▼ 14.7% |
| Investment in fixed assets (approximation) | - | - | -€369.2m | - | -€659.8m | - |
| Change in cash | - | - | €7.7m | - | -€150.2m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 44 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 09-06-2026 | 2026-00157764 |
| 31-12-2024 | consolidated | 20-06-2025 | 2025-00176969 |
| 31-12-2024 | full format | 04-06-2025 | 2025-00137024 |
| 31-12-2023 | consolidated | 19-06-2024 | 2024-00157132 |
| 31-12-2023 | full format | 04-06-2024 | 2024-00114343 |
| 31-12-2022 | consolidated | 06-10-2023 | 2023-00474303 |
| 31-12-2022 | full format | 20-06-2023 | 2023-00142469 |
| 31-12-2021 | full format | 28-07-2022 | 2022-20254672 |
| 31-12-2021 | consolidated | 19-07-2022 | 2022-20221626 |
| 31-12-2020 | consolidated | 09-08-2021 | 2021-47100356 |
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Of the 3,731 active companies whose main activity is water transport (NACE 50200), figures are known for 2,216. 7 are within a factor 10 of this equity. These 4 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2025 · 1 entry · €1,295 awarded · €1,295 paidSchemes
European Union, budget
2022 to 2024 · 8 entries · €728,456 in total| Year | Entries | Awarded |
|---|---|---|
| 2024 | 2 | €95,957 |
| 2023 | 2 | €205,623 |
| 2022 | 4 | €426,875 |
Projects
AUTOASSESS - AUTONOMOUS AERIAL INSPECTION OF GNSS-DENIED AND CONFINED CRITICAL INFRASTRUCTURES
DT4GS - OPEN COLLABORATION AND OPEN DIGITAL TWIN INFRASTRUCTURE FOR GREEN SMART SHIPPING
OPTIWISE - OPTIMISED WIND SUPPORTED VESSELS
European research
3 projects · €632,500 EU contributionProgrammes
Projects
Open collaboration and open Digital Twin infrastructure for Green Smart Shipping
Autonomous aerial inspection of GNSS-denied and confined critical infrastructures
OPTImised WInd Supported vEssels
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.