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Income tax benefit (expense) (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes [Abstract]

Disclosure of tax benefit (expense)


(in thousands of USD)						2024						2023						2022
Current tax
Current period						(7,660)						(4,889)						(1,736)
Changes related to prior years						1,616						7						57
Total current tax						(6,044)						(4,881)						(1,680)

Deferred tax
Recognition of unused tax losses/(use of tax losses)						(243)						(1,146)						(137)
Other						4,394						18						(987)
Total deferred tax						4,151						(1,128)						(1,124)

Total tax benefit/(expense)						(1,893)						(6,009)						(2,804)

Disclosure of reconciliation of effective tax


Reconciliation of effective tax						2024												2023												2022
Profit (loss) before tax												872,722												864,036												206,055

Tax at domestic rate						(25.00)		%				(218,181)						(25.00)		%				(216,009)						(25.00)		%				(51,514)
Effects on tax of :
Losses not subject to tax												(2,879)												—												—
Tax exempt profit / loss												(502)												(4,535)												2,642
Tax adjustments for previous years												1,979												7												57
Loss for which no DTA (*) has been recognized												28,686												7,586												4,481

Non-deductible expenses												(7,605)												(1,602)												(315)
Use of previously unrecognized tax losses and tax credits												—												5,283												4,431
Effect of Tonnage Tax regime												185,784												195,768												40,670
Effect of share of profit of equity-accounted investees												94												(5)												4,389
Effects of tax regimes in foreign jurisdictions												10,731												7,498												(7,645)
Total taxes						(0.22)		%				(1,893)						(0.70)		%				(6,009)						(1.36)		%				(2,804)