XML 569 R26.htm IDEA: XBRL DOCUMENT v3.25.1
Trade and other payables
 12 Months Ended
Dec. 31, 2024
Subclassifications of assets, liabilities and equities [abstract]  
Trade and other payables Trade and other payables
(in thousands of USD)December 31, 2024December 31, 2023
Derivatives— 146 
Total non-current other payables— 146 
Trade payables22,296 42,032 
Accrued expenses24,826 43,898 
Accrued payroll2,662 2,724 
Dividends payable538 16,301 
Deferred income27,367 17,355 
Other payables1,902 1,703 
Total current trade and other payables79,591 124,013 

The decrease in trade payables is primarily driven by a reduction in outstanding bunker-related invoices, one-off items associated with structural changes that were outstanding at the end of 2023, and the sale of Euronav Ship Management Hellas as per June 18, 2024. This decrease is partially offset by the acquisition of CMB.TECH during 2024.

The decrease in accrued expenses as of December 31, 2024, compared to December 31, 2023, is primarily attributable to a reduction in expenses related to vessels in drydock at year-end. Additionally, the one-off items associated with the deal with Frontline and time charter hire for the Marlin Sardinia and Marlin Somerset at the end of 2023 have been settled in the course of 2024.

The decrease in dividends payable relates to the withholding tax payable at December 31, 2023 on the dividend pay out for coupon 36.

Deferred income relates to short term balances. The entire prior year balance was recognized in revenue in the current year, and the entire current year balance is expected to be recognized in 2025. This primarily relates to time charter revenue invoices issued in advance of the monthly hire. The increase is mainly attributable to a higher number of vessels operating under time charter agreements compared to December 31, 2023.