Catom Annual Report 2023 EN

Movements in other provisions are as follows:

Long- service award

Major ship

Clean-up operations

€

maintenance

Total

Balance as at 1 January 2023

702,062

62,956

42,488

807,506

Addition

13,591

0

0

13,591

Withdrawal

0

-2,720

-12,212

-14,932

Release

-715,653

0

0

-715,653

Balance as at 31 December 2023

0

60,236

30,277

90,513

• The provision for major maintenance of vessels was cancelled in 2023 due to changes in accounting policy. • The provision for cleaning up polluted sites relates to the acquisition of two petrol stations and has since been substantiated by further examination. • The provision for long-service awards has been entered in connection with payments promised to employees for long service. The provision has been discounted by applying a discount rate of 4%.

9. Long-term liabilities

The long-term liabilities include money loans entered into with Coöperatieve Rabobank U.A. and ING Bank N.V., reduced by capitalised financing costs. The interest is based on 3 months Euribor, increased by a 1.9% surcharge. Repayments of the long-term liabilities for each loan will take place in amounts of € 1,900,000 on a quarterly basis.

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