EXMAR LPG: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
EXMAR LPG
Largest movements
- Financial fixed assets +€168.7m
up €168.7m (+65.1%), from €258.9m to €427.6m
- Cash -€80.4m
down €80.4m (-99.8%), from €80.6m to €193,658
mainly Investment in fixed assets (net) (-€168.7m) and Debts after one year (-€77.5m)
- Profit (loss) carried forward +€149.7m
up €149.7m (+129.6%), from €115.5m to €265.2m
- Debts after one year -€77.5m
no longer reported in 2025 (was €77.5m)
- Current portion of long-term debt +€22.0m
new in 2025: €22.0m
- Other debts -€6.1m
no longer reported in 2025 (was €6.1m)
- Financial income +€27.1m
up €27.1m (+21.6%), from €125.3m to €152.3m
- Financial charges +€1.2m
up €1.2m (+475.4%), from €250,003 to €1.4m
- Taxes +€877,721
new in 2025: €877,721
- Turnover -€221,663
down €221,663 (-19.0%), from €1.2m to €945,492
- Services and other goods +€118,095
up €118,095 (+10.3%), from €1.2m to €1.3m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €340,808,749 | €429,002,469 | +€88.2m | +25.9% |
| Fixed assets | 21/28 | €258,920,086 | €427,599,603 | +€168.7m | +65.1% |
| Financial fixed assets | 28 | €258,920,086 | €427,599,603 | +€168.7m | +65.1% |
| Affiliated companies | 280/1 | €258,920,086 | €427,599,603 | +€168.7m | +65.1% |
| Participating interests | 280 | €138,920,086 | €132,786,260 | -€6.1m | -4.4% |
| Amounts receivable | 281 | €120,000,000 | €294,813,343 | +€174.8m | +145.7% |
| Current assets | 29/58 | €81,888,663 | €1,402,866 | -€80.5m | -98.3% |
| Amounts receivable within one year | 40/41 | €1,066,715 | €1,209,208 | +€142,493 | +13.4% |
| Trade receivables | 40 | €1,048,845 | €1,163,747 | +€114,902 | +11.0% |
| Other amounts receivable | 41 | €17,870 | €45,461 | +€27,591 | +154.4% |
| Cash at bank and in hand | 54/58 | €80,565,205 | €193,658 | -€80.4m | -99.8% |
| Deferred charges and accrued income | 490/1 | €256,743 | - | -€256,743 | |
| Total equity and liabilities | 10/49 | €340,808,749 | €429,002,469 | +€88.2m | +25.9% |
| Equity | 10/15 | €255,923,388 | €405,617,976 | +€149.7m | +58.5% |
| Contributions | 10/11 | €132,832,000 | €132,832,000 | = | 0.0% |
| Reserves | 13 | €7,582,192 | €7,582,192 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,582,192 | €7,582,192 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,582,192 | €7,582,192 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,509,196 | €265,203,784 | +€149.7m | +129.6% |
| Amounts payable | 17/49 | €84,885,361 | €23,384,493 | -€61.5m | -72.5% |
| Amounts payable after more than one year | 17 | €77,500,000 | - | -€77.5m | |
| Financial debts | 170/4 | €77,500,000 | - | -€77.5m | |
| Other loans | 174 | €77,500,000 | - | -€77.5m | |
| Amounts payable within one year | 42/48 | €7,222,759 | €23,318,932 | +€16.1m | +222.9% |
| Current portion of amounts payable after more than one year | 42 | - | €22,000,000 | +€22.0m | |
| Trade debts | 44 | €1,088,933 | €441,210 | -€647,723 | -59.5% |
| Suppliers | 440/4 | €1,088,933 | €441,210 | -€647,723 | -59.5% |
| Taxes, remuneration and social security | 45 | - | €877,722 | +€877,722 | |
| Taxes | 450/3 | - | €877,722 | +€877,722 | |
| Other amounts payable | 47/48 | €6,133,826 | - | -€6.1m | |
| Accrued charges and deferred income | 492/3 | €162,602 | €65,561 | -€97,041 | -59.7% |
| Operating income | 70/76A | €1,167,155 | €945,492 | -€221,663 | -19.0% |
| Turnover | 70 | €1,167,155 | €945,492 | -€221,663 | -19.0% |
| Operating charges | 60/66A | €1,154,260 | €1,271,170 | +€116,910 | +10.1% |
| Services and other goods | 61 | €1,151,785 | €1,269,880 | +€118,095 | +10.3% |
| Other operating charges | 640/8 | €2,475 | €1,290 | -€1,185 | -47.9% |
| Operating profit (loss) | 9901 | €12,895 | -€325,678 | -€338,573 | |
| Financial income | 75/76B | €125,264,132 | €152,336,620 | +€27.1m | +21.6% |
| Recurring financial income | 75 | €125,264,132 | €152,336,620 | +€27.1m | +21.6% |
| Income from financial fixed assets | 750 | €125,256,743 | €152,199,190 | +€26.9m | +21.5% |
| Income from current assets | 751 | - | €128,333 | +€128,333 | |
| Other financial income | 752/9 | €7,389 | €9,097 | +€1,708 | +23.1% |
| Financial charges | 65/66B | €250,003 | €1,438,633 | +€1.2m | +475.4% |
| Recurring financial charges | 65 | €250,003 | €1,438,633 | +€1.2m | +475.4% |
| Debt charges | 650 | €248,333 | €1,421,445 | +€1.2m | +472.4% |
| Other financial charges | 652/9 | €1,670 | €17,188 | +€15,518 | +929.2% |
| Profit (loss) for the period before taxes | 9903 | €125,027,024 | €150,572,309 | +€25.5m | +20.4% |
| Income taxes | 67/77 | - | €877,721 | +€877,721 | |
| Taxes | 670/3 | - | €877,721 | +€877,721 | |
| Profit (loss) for the period | 9904 | €125,027,024 | €149,694,588 | +€24.7m | +19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €125,027,024 | €149,694,588 | +€24.7m | +19.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.