EXMAR SHIPMANAGEMENT: what changed
What changed
EXMAR SHIPMANAGEMENT
NACE 52.250, Logistics services
filed annual accounts (NBB)
Net result for the year
-€6.1m
2024 · €2.1m-€8.3m
Equity
€7.2m
2024 · €13.4m-€6.1m
Cash
€862,223
2024 · €2.2m-€1.3m
Balance sheet total
€35.5m
2024 · €60.3m-€24.8m
Largest movements
Assets
- Financial fixed assets -€24.8m
down €24.8m (-50.6%), from €49.0m to €24.2m
- Cash -€1.3m
down €1.3m (-60.4%), from €2.2m to €862,223
mainly Short-term financial debts (-€17.8m) and Net result for the year (-€6.1m)
- Receivables within one year +€830,020
up €830,020 (+9.4%), from €8.8m to €9.6m
of which Other amounts receivable: +€3.1m
Equity and liabilities
- Short-term financial debts -€17.8m
down €17.8m (-52.2%), from €34.2m to €16.4m
- Profit (loss) carried forward -€6.1m
down €6.1m (-46.2%), from €13.3m to €7.2m
- Other debts +€1.5m
up €1.5m (+116%), from €1.3m to €2.9m
- Tax, wage and social debts -€1.3m
down €1.3m (-31.0%), from €4.3m to €2.9m
of which Taxes: -€940,193
- Debts after one year -€940,000
down €940,000 (-95.9%), from €980,000 to €40,000
Income statement
- Financial charges +€5.6m
up €5.6m (+371%), from €1.5m to €7.1m
of which Financial charges: +€5.6m
- Turnover -€4.7m
down €4.7m (-33.6%), from €14.0m to €9.3m
- Financial income -€1.2m
down €1.2m (-23.4%), from €5.0m to €3.8m
of which Financial income: -€1.1m
- Other operating income +€1.1m
up €1.1m (+836%), from €127,597 to €1.2m
- Services and other goods -€1.0m
down €1.0m (-16.3%), from €6.2m to €5.2m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2.1m
Turnover
-€4.7m
Other operating income
+€1.1m
Services and other goods
+€1.0m
Staff costs
+€551,772
Depreciation
-€8,316
Write-downs
+€13,789
Other operating charges
-€8,249
Other operating items
-€167,234
Financial income
-€1.2m
Financial charges
-€5.6m
Taxes
+€732,727
Result 2025
-€6.1m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€6.8m
Investment
+€24.2m
Financing
-€18.8m
Cash 2024
€2.2m
From operations (derived)
-€6.8m
Net result for the year
-€6.1m
Depreciation
+€13,299
Receivables within one year
-€830,020
Deferred charges and accrued income
+€112,311
Provisions
+€653,586
Trade debts
-€580,047
Tax, wage and social debts
-€1.3m
Other debts
+€1.5m
Accrued charges and deferred income
-€198,145
Investment (derived)
+€24.2m
Investment in fixed assets (net)
+€24.2m
Financing
-€18.8m
Debts after one year
-€940,000
Short-term financial debts
-€17.8m
Cash 2025
€862,223
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,310,573 | €35,474,529 | -€24.8m | -41.2% |
| Fixed assets | 21/28 | €49,134,578 | €24,897,988 | -€24.2m | -49.3% |
| Intangible fixed assets | 21 | €52,363 | €464,533 | +€412,170 | +787% |
| Tangible fixed assets | 22/27 | €33,827 | €198,980 | +€165,153 | +488% |
| Furniture and vehicles | 24 | €33,827 | €198,980 | +€165,153 | +488% |
| Financial fixed assets | 28 | €49,048,388 | €24,234,475 | -€24.8m | -50.6% |
| Affiliated companies | 280/1 | €49,048,388 | €24,234,475 | -€24.8m | -50.6% |
| Participating interests | 280 | €464,528 | €464,528 | = | 0.0% |
| Amounts receivable | 281 | €48,583,860 | €23,769,947 | -€24.8m | -51.1% |
| Current assets | 29/58 | €11,175,995 | €10,576,541 | -€599,454 | -5.4% |
| Amounts receivable within one year | 40/41 | €8,801,957 | €9,631,977 | +€830,020 | +9.4% |
| Trade receivables | 40 | €8,124,230 | €5,834,687 | -€2.3m | -28.2% |
| Other amounts receivable | 41 | €677,727 | €3,797,290 | +€3.1m | +460% |
| Cash at bank and in hand | 54/58 | €2,179,386 | €862,223 | -€1.3m | -60.4% |
| Deferred charges and accrued income | 490/1 | €194,652 | €82,341 | -€112,311 | -57.7% |
| Total equity and liabilities | 10/49 | €60,310,573 | €35,474,529 | -€24.8m | -41.2% |
| Equity | 10/15 | €13,370,354 | €7,222,443 | -€6.1m | -46.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,302,154 | €7,154,243 | -€6.1m | -46.2% |
| Provisions and deferred taxes | 16 | €305,302 | €958,888 | +€653,586 | +214% |
| Provisions for liabilities and charges | 160/5 | €305,302 | €958,888 | +€653,586 | +214% |
| Other liabilities and charges | 164/5 | €305,302 | €958,888 | +€653,586 | +214% |
| Amounts payable | 17/49 | €46,634,917 | €27,293,198 | -€19.3m | -41.5% |
| Amounts payable after more than one year | 17 | €980,000 | €40,000 | -€940,000 | -95.9% |
| Financial debts | 170/4 | €980,000 | €40,000 | -€940,000 | -95.9% |
| Other loans | 174 | €980,000 | €40,000 | -€940,000 | -95.9% |
| Amounts payable within one year | 42/48 | €45,157,815 | €26,954,241 | -€18.2m | -40.3% |
| Financial debts | 43 | €34,194,712 | €16,351,815 | -€17.8m | -52.2% |
| Other loans | 439 | €34,194,712 | €16,351,815 | -€17.8m | -52.2% |
| Trade debts | 44 | €5,367,382 | €4,787,335 | -€580,047 | -10.8% |
| Suppliers | 440/4 | €5,367,382 | €4,787,335 | -€580,047 | -10.8% |
| Taxes, remuneration and social security | 45 | €4,263,182 | €2,941,527 | -€1.3m | -31.0% |
| Taxes | 450/3 | €2,610,621 | €1,670,428 | -€940,193 | -36.0% |
| Remuneration and social security | 454/9 | €1,652,561 | €1,271,099 | -€381,462 | -23.1% |
| Other amounts payable | 47/48 | €1,332,539 | €2,873,564 | +€1.5m | +116% |
| Accrued charges and deferred income | 492/3 | €497,102 | €298,957 | -€198,145 | -39.9% |
| Operating income | 70/76A | €14,292,021 | €10,481,821 | -€3.8m | -26.7% |
| Turnover | 70 | €13,997,190 | €9,288,067 | -€4.7m | -33.6% |
| Other operating income | 74 | €127,597 | €1,193,754 | +€1.1m | +836% |
| Non-recurring operating income | 76A | €167,234 | - | -€167,234 | |
| Operating charges | 60/66A | €14,887,933 | €13,335,245 | -€1.6m | -10.4% |
| Services and other goods | 61 | €6,157,746 | €5,154,054 | -€1.0m | -16.3% |
| Remuneration, social security and pensions | 62 | €8,683,382 | €8,131,610 | -€551,772 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,983 | €13,299 | +€8,316 | +167% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,789 | - | -€13,789 | |
| Other operating charges | 640/8 | €28,033 | €36,282 | +€8,249 | +29.4% |
| Operating profit (loss) | 9901 | -€595,912 | -€2,853,424 | -€2.3m | -379% |
| Financial income | 75/76B | €4,981,059 | €3,815,213 | -€1.2m | -23.4% |
| Recurring financial income | 75 | €4,941,059 | €3,815,213 | -€1.1m | -22.8% |
| Income from financial fixed assets | 750 | €2,395,295 | €3,732,486 | +€1.3m | +55.8% |
| Other financial income | 752/9 | €2,545,764 | €82,727 | -€2.5m | -96.8% |
| Non-recurring financial income | 76B | €40,000 | - | -€40,000 | |
| Financial charges | 65/66B | €1,503,973 | €7,081,232 | +€5.6m | +371% |
| Recurring financial charges | 65 | €1,496,269 | €7,081,232 | +€5.6m | +373% |
| Debt charges | 650 | €1,469,815 | €1,456,044 | -€13,771 | -0.9% |
| Other financial charges | 652/9 | €26,454 | €5,625,188 | +€5.6m | +21,164% |
| Non-recurring financial charges | 66B | €7,704 | - | -€7,704 | |
| Profit (loss) for the period before taxes | 9903 | €2,881,174 | -€6,119,443 | -€9.0m | |
| Income taxes | 67/77 | €761,195 | €28,468 | -€732,727 | -96.3% |
| Taxes | 670/3 | €761,195 | €28,468 | -€732,727 | -96.3% |
| Profit (loss) for the period | 9904 | €2,119,979 | -€6,147,911 | -€8.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €2,119,979 | -€6,147,911 | -€8.3m |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.