Flux analysis
Every movement is computed from the two consolidated trial balances. The thresholds decide which movements a reviewer must explain; the agent writes prose around those figures and cannot alter one. Where the data does not establish a driver, it says so rather than inventing one.
Movements requiring explanation
Threshold breaches, largest first. Commentary is a proposal awaiting reviewer acceptance.
PL-REVRevenue| FY2024 | 12,450,000 |
| FY2025 | 14,100,000 |
| Movement | 1,650,000+13.3% |
Movement of 1,650,000 is at or above three times the 100,000 absolute threshold.
Revenue increased by SGD 1,650,000 (13.3 per cent). Revenue grew on higher marine services volume in Singapore, Malaysia and Indonesia, with charter income also ahead of the prior year. The disaggregation note supports the split by service line and geography.
1500Property, plant and equipment - cost| FY2024 | 10,150,000 |
| FY2025 | 11,720,000 |
| Movement | 1,570,000+15.5% |
Movement of 1,570,000 is at or above three times the 100,000 absolute threshold.
Property, plant and equipment - cost increased by SGD 1,570,000 (15.5 per cent). Cost increased on additions across all three asset classes and on translation of the foreign registers.
1550Property, plant and equipment - accumulated depreciation| FY2024 | (2,540,000) |
| FY2025 | (3,525,550) |
| Movement | (985,550)-38.8% |
Movement of 985,550 is at or above three times the 100,000 absolute threshold.
Property, plant and equipment - accumulated depreciation decreased by SGD 985,550 (38.8 per cent). Accumulated depreciation increased by the charge for the year and the translation movement; there were no disposals.
SOFP-EQ-RERetained earnings| FY2024 | 2,122,785 |
| FY2025 | 3,010,985 |
| Movement | 888,200+41.8% |
Movement of 888,200 is at or above three times the 100,000 absolute threshold.
Retained earnings increased by SGD 888,200 (41.8 per cent). Retained earnings increased by the profit for the year. No dividend was declared.
4100Marine services revenue| FY2024 | (7,050,000) |
| FY2025 | (7,900,000) |
| Movement | (850,000)-12.1% |
Movement of 850,000 is at or above three times the 100,000 absolute threshold.
Marine services revenue decreased by SGD 850,000 (12.1 per cent). Marine services revenue carries the majority of the increase, consistent with the geographic disaggregation in the revenue note.
5000Cost of services| FY2024 | 7,290,000 |
| FY2025 | 8,117,500 |
| Movement | 827,500+11.3% |
Movement of 827,500 is at or above three times the 100,000 absolute threshold.
Cost of services increased by SGD 827,500 (11.3 per cent). Cost of services moved broadly with activity and grew more slowly than revenue.
PL-COSCost of services| FY2024 | 7,290,000 |
| FY2025 | 8,117,500 |
| Movement | 827,500+11.3% |
Movement of 827,500 is at or above three times the 100,000 absolute threshold.
Cost of services increased by SGD 827,500 (11.3 per cent). Cost of services grew more slowly than revenue, which is what widens the margin for the year.
4000Charter income| FY2024 | (5,400,000) |
| FY2025 | (6,200,000) |
| Movement | (800,000)-14.8% |
Movement of 800,000 is at or above three times the 100,000 absolute threshold.
Charter income decreased by SGD 800,000 (14.8 per cent). Charter income rose on higher vessel utilisation in Singapore. The fleet is unchanged, so the movement is volume rather than capacity.
3100Retained earnings - opening| FY2024 | (1,482,785) |
| FY2025 | (2,122,785) |
| Movement | (640,000)-43.2% |
Movement of 640,000 is at or above three times the 100,000 absolute threshold.
Retained earnings - opening decreased by SGD 640,000 (43.2 per cent). Opening retained earnings increased by the prior year result carried forward.
2350Bank borrowings - non-current| FY2024 | (3,000,000) |
| FY2025 | (2,400,000) |
| Movement | 600,000+20.0% |
Movement of 600,000 is at or above three times the 100,000 absolute threshold.
Bank borrowings - non-current increased by SGD 600,000 (20.0 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
SOFP-NCL-BBBank borrowings (non-current)| FY2024 | 3,000,000 |
| FY2025 | 2,400,000 |
| Movement | (600,000)-20.0% |
Movement of 600,000 is at or above three times the 100,000 absolute threshold.
Bank borrowings (non-current) decreased by SGD 600,000 (20.0 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
SOFP-NCA-PPEProperty, plant and equipment| FY2024 | 7,610,000 |
| FY2025 | 8,194,450 |
| Movement | 584,450+7.7% |
Movement of 584,450 is at or above three times the 100,000 absolute threshold.
Property, plant and equipment increased by SGD 584,450 (7.7 per cent). The increase is additions in the year net of depreciation, together with the translation movement on the Malaysian and Indonesian registers. The PPE note reconciles the carrying amount.
1000Cash and bank balances| FY2024 | 3,207,585 |
| FY2025 | 2,672,750 |
| Movement | (534,835)-16.7% |
Movement of 534,835 is at or above three times the 100,000 absolute threshold.
Cash and bank balances decreased by SGD 534,835 (16.7 per cent). The reduction reflects capital expenditure and the scheduled loan repayment in the year.
SOFP-CA-CASHCash and bank balances| FY2024 | 3,207,585 |
| FY2025 | 2,672,750 |
| Movement | (534,835)-16.7% |
Movement of 534,835 is at or above three times the 100,000 absolute threshold.
Cash and bank balances decreased by SGD 534,835 (16.7 per cent). Cash fell as vessel and plant additions and the scheduled term loan repayment exceeded cash generated from operations.
1100Trade receivables| FY2024 | 2,050,000 |
| FY2025 | 2,427,900 |
| Movement | 377,900+18.4% |
Movement of 377,900 is at or above three times the 100,000 absolute threshold.
Trade receivables increased by SGD 377,900 (18.4 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
SOFP-CA-TRTrade receivables| FY2024 | 2,012,000 |
| FY2025 | 2,382,900 |
| Movement | 370,900+18.4% |
Movement of 370,900 is at or above three times the 100,000 absolute threshold.
Trade receivables increased by SGD 370,900 (18.4 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
5100Staff costs| FY2024 | 2,310,000 |
| FY2025 | 2,544,500 |
| Movement | 234,500+10.2% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Staff costs increased by SGD 234,500 (10.2 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
PL-STAFFStaff costs| FY2024 | 2,310,000 |
| FY2025 | 2,544,500 |
| Movement | 234,500+10.2% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Staff costs increased by SGD 234,500 (10.2 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
5900Income tax expense| FY2024 | 240,000 |
| FY2025 | 444,300 |
| Movement | 204,300+85.1% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Income tax expense increased by SGD 204,300 (85.1 per cent). The charge tracks the increase in profit before tax in each jurisdiction.
PL-TAXIncome tax expense| FY2024 | 240,000 |
| FY2025 | 444,300 |
| Movement | 204,300+85.1% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Income tax expense increased by SGD 204,300 (85.1 per cent). The tax charge rose with taxable profit across the three jurisdictions.
2250Lease liabilities - non-current| FY2024 | (495,000) |
| FY2025 | (330,000) |
| Movement | 165,000+33.3% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Lease liabilities - non-current increased by SGD 165,000 (33.3 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
SOFP-NCL-LLLease liabilities (non-current)| FY2024 | 495,000 |
| FY2025 | 330,000 |
| Movement | (165,000)-33.3% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Lease liabilities (non-current) decreased by SGD 165,000 (33.3 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
2000Trade payables| FY2024 | (1,290,000) |
| FY2025 | (1,421,700) |
| Movement | (131,700)-10.2% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Trade payables decreased by SGD 131,700 (10.2 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
SOFP-CL-TPTrade payables| FY2024 | 1,290,000 |
| FY2025 | 1,421,700 |
| Movement | 131,700+10.2% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Trade payables increased by SGD 131,700 (10.2 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
1650Right-of-use assets - accumulated depreciation| FY2024 | (120,000) |
| FY2025 | (240,000) |
| Movement | (120,000)-100.0% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Right-of-use assets - accumulated depreciation decreased by SGD 120,000 (100.0 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
SOFP-NCA-ROURight-of-use assets| FY2024 | 600,000 |
| FY2025 | 480,000 |
| Movement | (120,000)-20.0% |
Movement breaches both the 100,000 absolute and the 10 per cent proportional threshold.
Right-of-use assets decreased by SGD 120,000 (20.0 per cent). The movement exceeds the reporting threshold but the consolidated trial balance alone does not establish the driver.
No sub-ledger detail or supporting schedule was provided for this account, so the cause has not been established. A preparer must supply the analysis before this commentary can be relied on.
All movements
Every trial balance account, largest movement first
| Account | FY2024 | FY2025 | Movement | % | Explanation |
|---|---|---|---|---|---|
1500 Property, plant and equipment - cost | 10,150,000 | 11,720,000 | 1,570,000 | 15.5% | Required |
1550 Property, plant and equipment - accumulated depreciation | (2,540,000) | (3,525,550) | (985,550) | -38.8% | Required |
4100 Marine services revenue | (7,050,000) | (7,900,000) | (850,000) | -12.1% | Required |
5000 Cost of services | 7,290,000 | 8,117,500 | 827,500 | 11.3% | Required |
4000 Charter income | (5,400,000) | (6,200,000) | (800,000) | -14.8% | Required |
3100 Retained earnings - opening | (1,482,785) | (2,122,785) | (640,000) | -43.2% | Required |
2350 Bank borrowings - non-current | (3,000,000) | (2,400,000) | 600,000 | 20.0% | Required |
1000 Cash and bank balances | 3,207,585 | 2,672,750 | (534,835) | -16.7% | Required |
1100 Trade receivables | 2,050,000 | 2,427,900 | 377,900 | 18.4% | Required |
5100 Staff costs | 2,310,000 | 2,544,500 | 234,500 | 10.2% | Required |
5900 Income tax expense | 240,000 | 444,300 | 204,300 | 85.1% | Required |
2250 Lease liabilities - non-current | (495,000) | (330,000) | 165,000 | 33.3% | Required |
2000 Trade payables | (1,290,000) | (1,421,700) | (131,700) | -10.2% | Required |
1650 Right-of-use assets - accumulated depreciation | (120,000) | (240,000) | (120,000) | -100.0% | Required |
5300 Other operating expenses | 858,000 | 937,000 | 79,000 | 9.2% | Not required |
5200 Depreciation - property, plant and equipment | 820,000 | 896,500 | 76,500 | 9.3% | Not required |
2100 Accruals and other payables | (498,000) | (564,350) | (66,350) | -13.3% | Not required |
3200 Foreign currency translation reserve | 41,200 | 93,660 | 52,460 | 127.3% | Not required |
1200 Other receivables and prepayments | 205,000 | 249,650 | 44,650 | 21.8% | Not required |
2400 Income tax payable | (352,000) | (396,375) | (44,375) | -12.6% | Not required |
5400 Finance costs | 178,000 | 156,000 | (22,000) | -12.4% | Not required |
2500 Deferred tax liabilities | (168,000) | (185,000) | (17,000) | -10.1% | Not required |
2200 Lease liabilities - current | (150,000) | (165,000) | (15,000) | -10.0% | Not required |
5600 Foreign exchange loss/(gain), net | 9,000 | 18,000 | 9,000 | 100.0% | Not required |
1150 Allowance for expected credit losses | (38,000) | (45,000) | (7,000) | -18.4% | Not required |
5500 Interest income | (15,000) | (22,000) | (7,000) | -46.7% | Not required |
1600 Right-of-use assets - cost | 720,000 | 720,000 | 0 | 0.0% | Not required |
2300 Bank borrowings - current | (600,000) | (600,000) | 0 | 0.0% | Not required |
3000 Share capital | (5,000,000) | (5,000,000) | 0 | 0.0% | Not required |
5210 Depreciation - right-of-use assets | 120,000 | 120,000 | 0 | 0.0% | Not required |