v3.25.1
Employee benefits (Tables)
12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of defined benefit plans disclosures
               
    Years Ended
December 31,
 
    2024     2023  
Liability at beginning of year   $ 83     $ 72  
Interest cost     3       2  
Service cost     16       22  
Actuarial (gains) / losses     -       (15 )
Foreign exchange fluctuations     (5 )     2  
Liability at end of year   $ 97     $ 83  
Schedule of amounts included in the consolidated statements of operations
               
    Years Ended
December 31,
 
    2024     2023  
Amounts included on the consolidated statements of operations:               
Interest cost   $ 3     $ 2  
Service cost     16       22  
 Total    $ 19     $ 24  
Schedule of amounts included in the consolidated statements of comprehensive income (loss)
               
    Years Ended
December 31,
 
    2024     2023  
Amounts included on the consolidated statements of comprehensive income (loss):                
Actuarial (gains) / losses   $ -     $ (15 )
 Total   $ -     $ (15 )
Schedule of actuarial assumptions
               
    Valuation Date  
Financial Assumptions   December 31,
2024
    December 31,
2023
 
Discount rate     3.08 %     3.08 %
Future salary increases     2.40 %     2.40 %
Inflation     1.10 %     2.10 %

 

    Valuation Date  
Demographic Assumptions   December 31,
2024
    December 31,
2023
 
Mortality(1)   EVK 2000 (male and female)  
Disability(1)   50% EVK 2000  
Retirement age limits(2)   As defined by the Greek main insurance institution for each employee.  
Turnover(3)   0.00%  

 

 
(1) Mortality Table: The mortality rate of employees is defined according to EVK 2000 (male and female), which is widely accepted as unbiased.
(2) Turnover Rates: For the purposes of the actuarial study, the turnover rate was estimated based on the Company’s historical data, estimated future development and long-term economic trends.
(3) Retirement ages are those provided by primary Greek insurance carrier and depend mainly on sex, class of worker, having incorporated the latest additions to the age limits of Greek Laws 4093/2012 and 4336/2015.
Schedule of sensitivity analysis
                       
    Effect on liability in financial
year 2024
 
    Change in
assumption by
    Increase in
assumption
    Decrease in
assumption
 
Discount rate     0.50 %     -9 %     +10 %
Annual salary increase     0.50 %     +6 %     -8 %