10. Goodwill

Goodwill is assessed annually at a reporting unit level, or whenever events and circumstances indicate impairment may have occurred. The Group has one reporting unit and performs a qualitative impairment test (also known as “Step 0"), and when necessary, a quantitative test. After assessing the totality of events and circumstances as part of the Step 0 test, it was determined that it is not more likely than not (a likelihood that is more than 50%) that the fair value of the reporting unit is less than its carrying amount and therefore a quantitative test is unnecessary. No triggering events were identified during the year.

The following table presents the changes in the carrying amount of goodwill:


	Year ended December 31,
	2025		2024
	$000s		$000s
Balance at start of year		9,392		9,981
Translation adjustment		1,229		(589	)
Balance at end of year		10,621		9,392