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Non-current receivables
 12 Months Ended
Dec. 31, 2024
Subclassifications of assets, liabilities and equities [abstract]  
Non-current receivables Non-current receivables
(in thousands of USD)December 31, 2024December 31, 2023
Shareholders loans to joint ventures16,188 2 
Derivatives1,279 — 
Cash guarantees and deposits
48,548 1,616 
Other non-current receivables9,061 6 
Lease receivables— 1,263 
Investment— 1 
Total non-current receivables75,076 2,888 

The increase in shareholder loans to joint ventures mainly relates to the loans provided to Be Hydro and JPN H2YDRO and to joint ventures within the Windcat group of companies, i.e. TSM Windcat and FRS Windcat Offshore Logistics.

The increase in cash guarantees and deposits as of December 31, 2024 compared to December 31, 2023 relates to a cash security of $46.9 million lodged with the High Court of Malaysia in January, 2024. The cash security was required to lift the arrest on the vessel Oceania which was subsequently sold and delivered to her new owners (see Note 22).

The increase in other non-current receivables is mainly due to the acquisition of CMB.TECH Enterprises and relates to an advancement for the development of ammonia-powered engines for its new bulk carriers. The amount will be recovered through future engine deliveries.

The maturity date of the non-current receivables is as follows:
(in thousands of USD)December 31, 2024December 31, 2023
Receivable:
Within two years57,240 2,764 
Between two and three years52 — 
Between three and four years4 — 
Between four and five years183 — 
More than five years17,597 124 
Total non-current receivables75,076 2,888 
Trade and other receivables - current
(in thousands of USD)December 31, 2024December 31, 2023
Receivable from contracts with customers117,824 88,544 
Receivable from contracts with customers - TI Pool56,568 169,339 
Accrued income9,237 13,706 
Accrued interest236 1,352 
Deferred charges45,072 17,601 
Deferred fulfillment costs1,126 2,278 
Other receivables3,691 11,414 
Lease receivables1,263 1,591 
Derivatives866 1,286 
Total trade and other receivables235,883 307,111 

The increase in receivables from contracts with customers is primarily due to the sale of vessels, for which part of the sale price remained outstanding as of December 31, 2024.

The decrease in receivables from contracts with customers - TI Pool relates to income to be received by the Group from the Tankers International Pool. These amounts decreased in 2024 mainly due to a decrease in number of vessels in the pool in connection with the sale to Frontline.

The increase in deferred charges is mainly due to the acquisition and consolidation of CMB.TECH Enterprises as per February, 2024, and relates mainly to arrangement fees on predelivery financing of newbuild vessels.

Fulfillment costs represent primarily bunker costs incurred between the date on which the contract of a spot voyage charter was concluded and the next load port. These expenses are deferred according to IFRS 15 Revenue from Contracts with Customers and are amortized on a systematic basis consistent with the pattern of transfer of service.

The lease receivables relate to the sublease of office space to third parties regarding the leased office of Euronav MI II Inc. (formerly Gener8 Maritime Inc.).

For currency and credit risk, we refer to Note 20.