The loss rose from £2.1m in 2024, while turnover increased slightly from £4.8m to £4.84m. Land held by the development was valued at £22.3m.
TPDL is responsible for development activity across 161.5 acres of land ultimately owned by Belfast Harbour.
In a strategic report accompanying the accounts, TPDL said: “TPDL has been focused throughout 2025 on the planning and implementation of development activity associated with the land available for sale and development.
“This activity has yielded further results in terms of progression of the sale of sites at Titanic Quarter for development by third parties and the negotiation of agreements that will result in further development during 2026 and beyond.”
The report said key stakeholders, funders and shareholders remain committed to driving progress “in the near term”.
The Titanic Quarter is home to more than 100 companies, while around 20,000 people live and work in the area. It attracts approximately one million visitors each year.
Work continues across the quarter, including the £190m Loftlines build-to-rent development.
The accounts come as Desmond faces protests from Celtic’s supporters against him and the Parkhead board.
Supporters wearing balaclavas threw tennis balls onto the 15th green during the Dunhill Links Championship at St Andrews. Celtic issued a statement condemning the incident. The Celtic Fans Collective responded.
The Green Brigade have announced a boycott of Celtic’s remaining Europa League home matches and Scottish Cup fixtures at home, away or at Hampden.
Celtic manager Martin O’Neill has previously condemned the actions directed at Desmond, insisting: “That is not Celtic.”