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Investments (Tables) | 12 Months Ended
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Dec. 31, 2024
Interests in Other Entities [Abstract] |
Disclosure of interests in associates |
(in thousands of USD) |  | December 31, 2024 |  | December 31, 2023
Assets |  |  |  |
Interest in joint ventures |  | 16,806 |  |  | 518 |
Interest in associates |  | — |  |  | — |
TOTAL ASSETS |  | 16,806 |  |  | 518 |
Liabilities |  |  |  |
Interest in joint ventures |  | — |  |  | — |
Interest in associates |  | — |  |  | — |
TOTAL LIABILITIES |  | — |  |  | — |
Disclosure of interests in joint ventures |
|  | Country of incorporation |  | Consolidation method |  | Ownership interest
|  |  |  |  |  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Parent |  |  |  |  |  |  |  |  |  |
CMB.TECH NV |  | Belgium |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Euronav NV, Antwerp, Geneva (branch office) |  |  |  |  |  |  |  |  |  |
Euronav NV, London (branch office) |  |  |  |  |  |  |  |  |  |
Subsidiaries |  |  |  |  |  |  |  |  |  |
Euronav Shipping NV |  | Belgium |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Euronav (UK) Agencies Limited |  | United Kingdom |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Euronav Luxembourg SA |  | Luxembourg |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Euronav SAS |  | France |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Euronav Ship Management SAS |  | France |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Euronav Ship Management Antwerp (branch office) |  |  |  |  |  |  |  |  |  |
Euronav Ship Management Ltd |  | Liberia |  | full |  | NA |  | 100.00 | % |  | 100.00 | %
Euronav Ship Management Hellas (branch office) |  |  |  |  |  |  |  |  |  |
Euronav Hong Kong Ltd |  | Hong Kong |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Euro-Ocean Ship Management (Cyprus) Ltd |  | Cyprus |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Euronav Singapore Pte. Ltd |  | Singapore |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Green Bulker One Pte Ltd. |  | Singapore |  | full |  | 100.00 | % |  | NA |  | NA
Green Bulker Two Pte Ltd. |  | Singapore |  | full |  | 100.00 | % |  | NA |  | NA
Green Bulker Three Pte Ltd. |  | Singapore |  | full |  | 100.00 | % |  | NA |  | NA
Euronav MI II Inc |  | Marshall Islands |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Gener8 Maritime Subsidiary II Inc. |  | Marshall Islands |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Gener8 Maritime Subsidiary New IV Inc. |  | Marshall Islands |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Gener8 Maritime Management LLC |  | Marshall Islands |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
TI Africa Ltd |  | Hong Kong |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
TI Asia Ltd |  | Hong Kong |  | full |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
CMB TECH Namibia (Pty) Ltd |  | Namibia |  | full |  | 100.00 | % |  | NA |  | NA
CMB.TECH Namibia Properties (Pty) Ltd |  | Namibia |  | full |  | 100.00 | % |  | NA |  | NA
CMB.TECH Belgium NV |  | Belgium |  | full |  | 100.00 | % |  | NA |  | NA
CMB.TECH Industry NV |  | Belgium |  | full |  | 100.00 | % |  | NA |  | NA
CMB.TECH International NV |  | Belgium |  | full |  | 100.00 | % |  | NA |  | NA
CMB.TECH Netherlands BV |  | Netherlands |  | full |  | 100.00 | % |  | NA |  | NA
CMB.TECH Enterprises NV |  | Belgium |  | full |  | 100.00 | % |  | NA |  | NA
CMB.TECH Technology and development centre Limited |  | United Kingdom |  | full |  | 100.00 | % |  | NA |  | NA
CTV Crewing Services Limited |  | United Kingdom |  | full |  | 100.00 | % |  | NA |  | NA
H2 Infra NV |  | Belgium |  | full |  | 100.00 | % |  | NA |  | NA
Ammonia Carrier AS |  | Norway |  | full |  | 100.00 | % |  | NA |  | NA
Windcat Workboats (Ireland) Limited |  | Ireland |  | full |  | 100.00 | % |  | NA |  | NA
Windcat Workboats (Scotland) Limited |  | United Kingdom |  | full |  | 100.00 | % |  | NA |  | NA
Windcat Workboats (Wales) CYF |  | United Kingdom |  | full |  | 100.00 | % |  | NA |  | NA
Windcat Workboats 2 Ltd |  | Guernsey |  | full |  | 100.00 | % |  | NA |  | NA
Windcat Workboats BV |  | Netherlands |  | full |  | 100.00 | % |  | NA |  | NA
Windcat Workboats Holdings Limited |  | United Kingdom |  | full |  | 100.00 | % |  | NA |  | NA
Windcat Workboats International BV |  | Netherlands |  | full |  | 100.00 | % |  | NA |  | NA
Windcat Workboats International Ltd |  | Guernsey |  | full |  | 100.00 | % |  | NA |  | NA
Windcat Workboats Limited |  | United Kingdom |  | full |  | 100.00 | % |  | NA |  | NA
Joint ventures |  |  |  |  |  |  |  |  |  |
Tankers Agencies (UK) Ltd |  | United Kingdom |  | equity |  | 50.00 | % |  | 50.00 | % |  | 50.00 | %
Tankers International LLC |  | Marshall Islands |  | equity |  | 50.00 | % |  | 50.00 | % |  | 50.00 | %
Bari Shipholding Ltd |  | Hong Kong |  | equity |  | 50.00 | % |  | 50.00 | % |  | 50.00 | %
Bastia Shipholding Ltd |  | Hong Kong |  | equity |  | NA |  | 50.00 | % |  | 50.00 | %
be Hydro BV |  | Belgium |  | equity |  | 50.00 | % |  | NA |  | NA
Cleanergy Solutions (Namibia) (Pty) Ltd |  | Namibia |  | equity |  | 49.00 | % |  | NA |  | NA
FRS Windcat Offshore Logistics GmbH |  | Germany |  | equity |  | 50.00 | % |  | NA |  | NA
FRS Windcat Offshore Logistics Limited |  | Cyprus |  | equity |  | 50.00 | % |  | NA |  | NA
FRS Windcat Polska Sp.z.o.o |  | Poland |  | equity |  | 50.00 | % |  | NA |  | NA
JPN H2YDRO CO. Ltd |  | Japan |  | equity |  | 50.00 | % |  | NA |  | NA
TSM Windcat sas |  | France |  | equity |  | 50.00 | % |  | NA |  | NA
(in thousands of USD) |  | December 31, 2024 |  | December 31, 2023
Assets |  |  |  |
Interest in joint ventures |  | 16,806 |  |  | 518 |
Interest in associates |  | — |  |  | — |
TOTAL ASSETS |  | 16,806 |  |  | 518 |
Liabilities |  |  |  |
Interest in joint ventures |  | — |  |  | — |
Interest in associates |  | — |  |  | — |
TOTAL LIABILITIES |  | — |  |  | — |
The following table contains summarized financial information for all of the Group's joint ventures:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Asset |  |
(in thousands of USD) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | TI Africa Ltd |  | TI Asia Ltd |  | Tankers Agencies (UK) Ltd (see Note 25) |  | TI LLC (see Note 25) |  | Bari Shipholding Ltd |  | Bastia Shipholding Ltd |  | Total |  |  |  |  |  |
At December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Percentage ownership interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 50 | % |  | 50 | % |  | 50 | % |  | 50 | % |  | 50 | % |  | 50 | % |  |  |  |  |  |  |  |
Non-Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 153 |  |  | — |  |  | — |  |  | — |  |  | 153 |  |  |  |  |  |  |
of which vessel |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 504,397 |  |  | 206 |  |  | 131 |  |  | — |  |  | 504,734 |  |  |  |  |  |  |
of which cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 2,453 |  |  | — |  |  | 101 |  |  | — |  |  | 2,554 |  |  |  |  |  |  |
Non-Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 30 |  |  | — |  |  | 1,700 |  |  | — |  |  | 1,730 |  |  |  |  |  |  |
of which bank loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 502,547 |  |  | 63 |  |  | 83 |  |  | — |  |  | 502,693 |  |  |  |  |  |  |
of which bank loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 75,500 |  |  | — |  |  | — |  |  | — |  |  | 75,500 |  |  |  |  |  |  |
Net assets (100%) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 1,973 |  |  | 143 |  |  | (1,652) |  |  | — |  |  | 464 |  |  |  |  |  |  |
Group's share of net assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 1,202 |  |  | 84 |  |  | (826) |  |  | — |  |  | 460 |  |  |  |  |  |  |
Shareholders loans to joint venture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 850 |  |  | — |  |  | 850 |  |  |  |  |  |  |
Net Carrying amount of interest in joint venture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 1,202 |  |  | 84 |  |  | — |  |  | — |  |  | 1,286 |  |  |  |  |  |  |
Remaining shareholders loan to joint venture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24 |  |  | — |  |  | 24 |  |  |  |  |  |  |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 20,729 |  |  | 20,729 |  |  | 1,172,698 |  |  | — |  |  | 2,139 |  |  | — |  |  | 1,216,295 |  |  |  |  |  |  |
Depreciations and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,998) |  |  | (2,811) |  |  | (39) |  |  | — |  |  | (479) |  |  | — |  |  | (6,327) |  |  |  |  |  |  |
Interest Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (428) |  |  | (413) |  |  | (954) |  |  | — |  |  | 171 |  |  | — |  |  | (1,625) |  |  |  |  |  |  |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,599 |  |  | 1,600 |  |  | (117) |  |  | — |  |  | — |  |  | — |  |  | 3,082 |  |  |  |  |  |  |
Profit (loss) for the period (100%) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,997 |  |  | 14,858 |  |  | 185 |  |  | (36) |  |  | 5,250 |  |  | 10 |  |  | 35,265 |  |  |  |  |  |  |
Other comprehensive income (100%) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 170 |  |  | 149 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 319 |  |  |  |  |  |  |
Group's share of profit (loss) for the period |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,499 |  |  | 7,429 |  |  | 113 |  |  | (21) |  |  | 2,625 |  |  | 5 |  |  | 17,650 |  |  |  |  |  |  |
Group's share of other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 85 |  |  | 74 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 159 |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  | Asset |  |
(in thousands of USD) |  |  |  |  |  |  |  |  |  |  |  | Tankers Agencies (UK) Ltd (see Note 25) |  | TI LLC (see Note 25) |  | Bari Shipholding Ltd |  |  |  | Total |  |  |  |  |  |
At December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Percentage ownership interest |  |  |  |  |  |  |  |  |  |  |  | 50 | % |  | 50 | % |  | 50 | % |  |  |  |  |  |  |  |  |  |
Non-Current assets |  |  |  |  |  |  |  |  |  |  |  | 1,754 |  |  | — |  |  | — |  |  |  |  | 1,754 |  |  |  |  |  |  |
of which vessel |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  | 391,037 |  |  | 150 |  |  | 118 |  |  |  |  | 391,305 |  |  |  |  |  |  |
of which cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  | 3,046 |  |  | — |  |  | 88 |  |  |  |  | 3,134 |  |  |  |  |  |  |
Non-Current Liabilities |  |  |  |  |  |  |  |  |  |  |  | 1,360 |  |  | — |  |  | 1,700 |  |  |  |  | 3,060 |  |  |  |  |  |  |
of which bank loans |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  | 390,323 |  |  | 66 |  |  | 114 |  |  |  |  | 390,503 |  |  |  |  |  |  |
of which bank loans |  |  |  |  |  |  |  |  |  |  |  | 42,500 |  |  | — |  |  | — |  |  |  |  | 42,500 |  |  |  |  |  |  |
Net assets (100%) |  |  |  |  |  |  |  |  |  |  |  | 1,108 |  |  | 84 |  |  | (1,696) |  |  |  |  | (503) |  |  |  |  |  |  |
Group's share of net assets |  |  |  |  |  |  |  |  |  |  |  | 675 |  |  | 49 |  |  | (848) |  |  |  |  | (123) |  |  |  |  |  |  |
Shareholders loans to joint venture |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 850 |  |  |  |  | 850 |  |  |  |  |  |  |
Net Carrying amount of interest in joint venture |  |  |  |  |  |  |  |  |  |  |  | 675 |  |  | 49 |  |  | — |  |  |  |  | 725 |  |  |  |  |  |  |
Remaining shareholders loan to joint venture |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 2 |  |  |  |  | 2 |  |  |  |  |  |  |
Revenue |  |  |  |  |  |  |  |  |  |  |  | 1,685,928 |  |  | — |  |  | — |  |  |  |  | 1,685,928 |  |  |  |  |  |  |
Depreciations and amortization |  |  |  |  |  |  |  |  |  |  |  | (84) |  |  | — |  |  | — |  |  |  |  | (84) |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (2,806) |  |  | — |  |  | — |  |  |  |  | (2,806) |  |  |  |  |  |  |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (79) |  |  | — |  |  | — |  |  |  |  | (79) |  |  |  |  |  |  |
Profit (loss) for the period (100%) |  |  |  |  |  |  |  |  |  |  |  | (1,445) |  |  | (43) |  |  | (43) |  |  |  |  | (1,532) |  |  |  |  |  |  |
Other comprehensive income (100%) |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  |  |  |  |  |
Group's share of profit (loss) for the period |  |  |  |  |  |  |  |  |  |  |  | (880) |  |  | (25) |  |  | (22) |  |  |  |  | (927) |  |  |  |  |  |  |
Group's share of other comprehensive income |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Asset |
(in thousands of USD) |  |  |  |  |  |  |  |  |  |  |  | Tankers Agencies (UK) Ltd (see Note 25) |  | TI LLC (see Note 25) |  | Bari Shipholding Ltd |  | be HYDRO |  | JPN H2YDRO CO. Ltd |  | Cleanergy Solution (Namibia) (Pty) Ltd |  | FRS Windcat Offshore Logistics Gmbh |  | TSM Windcat sas |  | Total |
At December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Percentage ownership interest |  |  |  |  |  |  |  |  |  |  |  | 50 | % |  | 50 | % |  | 50 | % |  | 50 | % |  | 50 | % |  | 49 | % |  | 50 | % |  | 50 | % |  |  |
Non-Current assets |  |  |  |  |  |  |  |  |  |  |  | 1,482 |  |  | — |  |  | — |  |  | 725 |  |  | 19,387 |  |  | 21,699 |  |  | 18,885 |  |  | 25,746 |  |  | 87,924 |  |
of which vessel |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 382 |  |  | — |  |  | 9,505 |  |  | 25,723 |  |  | 35,610 |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  | 198,050 |  |  | 96 |  |  | — |  |  | 2,234 |  |  | 10,203 |  |  | 8,340 |  |  | 2,107 |  |  | 2,240 |  |  | 223,270 |  |
of which cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  | 3,096 |  |  | — |  |  | — |  |  | 103 |  |  | 4,729 |  |  | 5,371 |  |  | 635 |  |  | 236 |  |  | 14,170 |  |
Non Current Liabilities |  |  |  |  |  |  |  |  |  |  |  | 1,190 |  |  | — |  |  | 1,700 |  |  | — |  |  | 17,811 |  |  | 63 |  |  | 5,143 |  |  | 22,849 |  |  | 48,756 |  |
of which bank loans |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,961 |  |  | 12,368 |  |  | 15,329 |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  | 196,731 |  |  | 7 |  |  | — |  |  | 3,081 |  |  | 6,059 |  |  | 10,363 |  |  | 12,344 |  |  | 4,592 |  |  | 233,177 |  |
of which bank loans |  |  |  |  |  |  |  |  |  |  |  | 15,500 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25 |  |  | 3,113 |  |  | 18,638 |  |
Net assets (100%) |  |  |  |  |  |  |  |  |  |  |  | 1,611 |  |  | 89 |  |  | (1,700) |  |  | (122) |  |  | 5,720 |  |  | 19,613 |  |  | 3,505 |  |  | 545 |  |  | 29,261 |  |
Group's share of net assets |  |  |  |  |  |  |  |  |  |  |  | 981 |  |  | 52 |  |  | (850) |  |  | (61) |  |  | 2,860 |  |  | 9,610 |  |  | 1,753 |  |  | 273 |  |  | 14,618 |  |
Shareholders loans to joint venture |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 850 |  |  | 903 |  |  | 6,690 |  |  | — |  |  | 3,688 |  |  | 5,238 |  |  | 17,369 |  |
Net Carrying amount of interest in joint venture |  |  |  |  |  |  |  |  |  |  |  | 981 |  |  | 52 |  |  | — |  |  | — |  |  | 2,860 |  |  | 9,610 |  |  | 3,144 |  |  | 273 |  |  | 16,920 |  |
Remaining shareholders loan to joint venture |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | 842 |  |  | 6,690 |  |  | — |  |  | 3,418 |  |  | 5,238 |  |  | 16,188 |  |
Revenue |  |  |  |  |  |  |  |  |  |  |  | 908,159 |  |  | — |  |  | 9 |  |  | 2,324 |  |  | 6,751 |  |  | 3 |  |  | 7,005 |  |  | 7,341 |  |  | 931,592 |  |
Depreciations and amortization |  |  |  |  |  |  |  |  |  |  |  | (102) |  |  | — |  |  | — |  |  | (341) |  |  | (1,052) |  |  | (16) |  |  | (1,646) |  |  | (2,552) |  |  | (5,709) |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (1,037) |  |  | — |  |  | — |  |  | (138) |  |  | (148) |  |  | (5) |  |  | (482) |  |  | (649) |  |  | (2,459) |  |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | (1,279) |  |  | — |  |  | (179) |  |  | — |  |  | (1,457) |  |
Profit (loss) for the period (100%) |  |  |  |  |  |  |  |  |  |  |  | 653 |  |  | 4 |  |  | (4) |  |  | (287) |  |  | 2,645 |  |  | (617) |  |  | (228) |  |  | (482) |  |  | 1,684 |  |
Other comprehensive income (100%) |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |
Group's share of profit (loss) for the period |  |  |  |  |  |  |  |  |  |  |  | 398 |  |  | 2 |  |  | (2) |  |  | (144) |  |  | 1,323 |  |  | (302) |  |  | (114) |  |  | (241) |  |  | 920 |  |
Group's share of other comprehensive income |  |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |
(in thousands of USD) |  | 2024 |  | 2023
Cash and cash equivalents of the joint ventures |  | 14,170 |  |  | 3,134 |
Group's share of cash and cash equivalents |  | 7,416 |  |  | 1,902 |
Disclosure of reconciliation of summarised financial information of joint venture accounted for using equity method to carrying amount of interest in joint venture | The following table contains a roll forward of the balance sheet amounts with respect to the Group's joint ventures:
|  | ASSET |  |
(in thousands of USD) |  | Investments in equity accounted investees |  | Shareholders loans |  |  |  |
Gross balance |  | 70,995 |  |  | 31,694 |  |  |  |  |
Offset investment with shareholders loan |  | 1,451 |  |  | (1,451) |  |  |  |  |
Balance at January 1, 2022 |  | 72,446 |  |  | 30,243 |  |  |  |  |
Reversal prior year offset investment with shareholders loan |  | (1,451) |  |  | 1,451 |  |  |  |  |
Group's share of profit (loss) for the period |  | 17,650 |  |  | — |  |  |  |  |
Group's share of other comprehensive income |  | 159 |  |  | — |  |  |  |  |
Dividends received from joint ventures |  | (3,021) |  |  | — |  |  |  |  |
Reclassification of associate to joint venture (Note 23) |  | — |  |  | (32,844) |  |  |  |  |
Movement equity to shareholders loan |  | (2,000) |  |  | 2,000 |  |  |  |  |
Business combinations |  | (83,186) |  |  | — |  |  |  |  |
Gross balance |  | 597 |  |  | 850 |  |  |  |  |
Offset investment with shareholders loan |  | 826 |  |  | (826) |  |  |  |  |
Balance at December 31, 2022 |  | 1,423 |  |  | 24 |  |  |  |  |
Reversal prior year offset investment with shareholders loan |  | (826) |  |  | 826 |  |  |  |  |
Group's share of profit (loss) for the period |  | (927) |  |  | — |  |  |  |  |
Gross balance |  | (330) |  |  | 850 |  |  |  |  |
Offset investment with shareholders loan |  | 848 |  |  | (848) |  |  |  |  |
Balance at December 31, 2023 |  | 518 |  |  | 2 |  |  |  |  |
|  | ASSET |  |
(in thousands of USD) |  | Investments in equity accounted investees |  | Shareholders loans |  |  |  |
Reversal prior year offset investment with shareholders loan |  | (848) |  |  | 848 |  |  |  |  |
Group's share of profit (loss) for the period |  | 920 |  |  | — |  |  |  |  |
Capital increase/(decrease) in joint ventures |  | 3,796 |  |  | — |  |  |  |  |
Movement shareholders loans to joint ventures |  | — |  |  | 4,485 |  |  |  |  |
Business combinations |  | 12,399 |  |  | 11,638 |  |  |  |  |
Translation differences |  | (475) |  |  | (290) |  |  |  |  |
Gross balance |  | 16,311 |  |  | 16,683 |  |  |  |  |
Offset investment with shareholders loan |  | 495 |  |  | (495) |  |  |  |  |
Balance at December 31, 2024 |  | 16,806 |  |  | 16,188 |  |  |  |  |
Disclosure of joint ventures |
Joint venture | Segment | Description
Tankers Agencies (UK) Ltd | Euronav | Parent company of Tankers International Ltd
Tankers International LLC | Euronav | The manager of the Tankers International Pool who commercially manages the majority of the Group's VLCCs
Bari Shipholding Ltd | Euronav | Formerly owner of 1 Suezmax, dormant company
TI Africa Ltd | Euronav | Operator and owner of a single floating storage and offloading facility (FSO Africa), as from June 7, 2022 100% subsidiary *
TI Asia Ltd | Euronav | Operator and owner of a single floating storage and offloading facility (FSO Asia), as from June 7, 2022 100% subsidiary *
be HYDRO bv | H2 Industry | BeHydro focusses on the development and sale of hydrogen combustion engines.
JPN H2YDRO CO. Ltd | H2 Industry | JPN H2YDRO CO. is the owner of a passenger ferry that is being deployed in the Japanese inland sea and is powered by a dual fuel hydrogen diesel combustion engine.
Cleanergy Solutions (Namibia) (Pty) Ltd | H2 Infra | Cleanergy Solutions (Nambia) (Pty) will develop green hydrogen production projects in Namibia.
FRS Windcat Offshore Logistics Gmbh | Windcat | FRS Windcat Offshore Logistics is a joint venture within the Windcat Group that owns 6 CTVs as per December 31, 2024. The aim of the joint venture is gaining market share in the German offshore wind market. Note that the joint venture also comprises a Polish entity, i.e. FRS Windcat Polska, with a similar purpose. However, this Polish entity is dormant.
TSM Windcat sas | Windcat | TSM Windcat is a joint venture within the Windcat Group that owns 6 CTVs as per December 31, 2024. The aim of the joint venture is gaining market share in the French offshore wind market.
* FSO Asia and FSO Africa are on a time charter contract to North Oil Company (NOC), the new operator of Al Shaheen field, until mid 2032.

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