v3.26.1
Employee benefit plans (Tables)
12 Months Ended
Dec. 31, 2025
Employee benefit plans  
Schedule of personnel costs

Personnel Costs

  ​ ​ ​

As at December 31,

  ​ ​ ​

As at December 31,

  ​ ​ ​

As at December 31,

USD’000

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

Wages and Salaries

 

18,609

 

5,830

 

6,214

Social security contributions

 

6,343

 

2,612

 

2,319

Net service costs

 

665

 

33

 

38

Total

 

25,617

 

8,475

 

8,571

Schedule of assumptions used

  ​ ​ ​

As at December 31,

  ​ ​ ​

As at December 31,

  ​ ​ ​

As at December 31,

  ​ ​ ​

As at December 31,

 

Assumptions

2025

2025

2024

2023

 

France

Switzerland

France

France

 

Discount rate

 

3.40

%  

1.16

%  

3.10

%  

3.05

%

Expected rate of return on plan assets

 

n/a

 

3.33

%  

n/a

 

n/a

Salary increases

 

3

%  

2.50

%  

3

%  

3

%

Schedule of reconciliation to balance sheet

Reconciliation to Balance Sheet start of year

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

USD’000

Fiscal year

 

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

Projected benefit obligation

 

463

 

426

 

396

Surplus / deficit

 

463

 

426

 

396

Opening balance sheet asset / provision (funded status)

 

463

 

426

 

396

Reconciliation of benefit obligation during the year

Projected benefit obligation at start of year

 

463

 

426

 

396

Net service cost

 

250

 

34

 

38

Interest expense

 

95

 

13

 

14

Plan participant contributions

 

84

 

 

Net benefits paid to participants

 

244

 

(7)

 

(22)

Actuarial losses / (gains)

 

(133)

 

26

 

(11)

Acquisitions

 

6,994

 

 

Currency translation adjustment

 

1,107

 

(29)

 

11

Projected benefit obligation at end of year

 

9,104

 

463

 

426

Reconciliation of plan assets during the year

 

  ​

 

  ​

 

  ​

Fair value of plan assets at start of year

 

 

 

Employer contributions paid over the year

 

(153)

 

 

Plan participant contributions

 

(84)

 

 

Net benefits paid to participants

 

(244)

 

 

Expected return on plan assets

 

(186)

 

 

Actuarial losses / (gains)

 

14

 

  ​

 

  ​

Acquisitions

 

(5,465)

 

 

Currency translation adjustment

 

(824)

 

 

Fair value of plan assets at end of year

 

(6,942)

 

 

Reconciliation to balance sheet end of year

 

  ​

 

  ​

 

  ​

Fair value of plan assets

 

(6,942)

 

 

Defined benefit obligation - funded plans

 

9,104

 

463

 

426

Surplus/deficit

 

2,162

 

463

 

426

Closing balance sheet asset / provision (funded status)

 

2,162

 

463

 

426

Amounts recognized in accumulated other comprehensive income / (loss)

 

  ​

 

  ​

 

  ​

Net loss / (gain)

 

1,434

 

(335)

 

(385)

Deficit

 

1,434

 

(335)

 

(385)

Estimated amount to be amortized from accumulated other comprehensive income / (loss) into NPBC over next fiscal year

 

  ​

 

  ​

 

  ​

Net loss / (gain)

 

384

 

52

 

47

Schedule of movement in funded status

Movement in Funded Status

  ​ ​ ​

  ​

  ​ ​ ​

  ​

  ​ ​ ​

  ​

USD’000

  ​

  ​

  ​

Fiscal year

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

Opening balance sheet liability / (funded status)

 

463

 

426

 

396

Net service cost

 

250

 

34

 

38

Interest cost / (credit)

 

95

 

13

 

14

Expected return on plan assets

(186)

Amortization of net (gain) / loss

 

70

 

 

Amortization of prior service cost / (credit)

 

(72)

 

 

Settlement / curtailment cost / (credit)

 

 

 

Currency translation adjustment

 

(1)

 

 

Total net periodic benefit cost / (credit)

 

156

 

47

 

52

Actuarial (gain) / loss on liabilities

 

(133)

 

26

 

(11)

Actuarial (gain) / loss on assets

 

15

 

  ​

 

  ​

Amortization of net (gain) / loss

 

(70)

 

 

Amortization of prior service cost / (credit)

 

72

 

  ​

 

  ​

Currency translation adjustment

 

1

 

  ​

 

  ​

Total (gain) / loss recognized via OCI

 

(115)

 

26

 

(11)

Employer contributions paid in the year & Cashflow required to pay benefit payments

 

(153)

 

(7)

 

(22)

Total cashflow

 

(153)

 

(7)

 

(22)

Acquisitions

 

1,530

 

 

Currency translation adjustment

 

281

 

(29)

 

11

Closing balance sheet liability / (funded status)

 

2,162

 

463

 

426

Reconciliation of Net gain / loss

 

  ​

 

  ​

 

  ​

Amount at beginning of year

 

(335)

 

(385)

 

(364)

Liability (gain) / loss

 

(118)

 

26

 

(11)

Amortization of net (gain) / loss

 

(70)

 

  ​

 

  ​

Acquisitions

 

1,754

 

 

Currency translation adjustment

 

203

 

24

 

(10)

Amount as at December 31,

 

1,434

 

(335)

 

(385)

Schedule of future contributions payable

Period

  ​ ​ ​

USD’000

  ​ ​ ​

Switzerland

  ​ ​ ​

France

2026

2,229

94

2027

 

288

 

59

2028

 

268

 

59

2029

 

258

 

14

2030

 

239

 

196

2031 to 2035

 

1,244

 

862