| LEASES |
Note
19:- LEASES
The Group leases substantially
all of its office space and vehicles under operating leases. The Group’s leases have original lease periods expiring between 2025
and 2036. Some leases include one or more options to renew. The Group does not assume renewals in its determination of the lease term
unless the renewals are deemed to be reasonably certain at lease commencement. Lease payments included in the measurement of the lease
liability comprise the following: the fixed non-cancellable lease payments, payments for optional renewal periods where it is reasonably
certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will
not be terminated early.
Under IFRS 16, all leases with
durations greater than 12 months, including non-cancellable operating leases, are now recognized on the statement of financial position.
The aggregated present value of lease agreements is recorded as a long-term asset titled operating lease right-of-use assets.
The corresponding lease liabilities
are classified between operating lease liabilities which are current and long-term.
Maturity analysis of undiscounted
future lease payments receivable for operating leases:
| 2026 | |
$ | 43,783 | |
| 2027 | |
| 31,672 | |
| 2028 | |
| 23,286 | |
| 2029 | |
| 17,965 | |
| 2030 | |
| 46,300 | |
| 2031 and thereafter | |
| 2,825 | |
| Total undiscounted cash flows | |
$ | 165,831 | |
| | |
| | |
| Less imputed interest | |
| (15,127 | ) |
| Present value of lease liabilities | |
$ | 150,704 | |
| | |
Year ended December 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Interest expense on lease liabilities | |
$ | 6,749 | | |
$ | 6,506 | |
| Total cash outflow for leases | |
$ | 54,389 | | |
$ | 50,088 | |
| a. | Disclosures in respect of right-of-use assets: |
| | |
Land and buildings | | |
Motor vehicles | | |
Total | |
| Cost: | |
| | |
| | |
| |
| Balance as of January 1, 2025 | |
$ | 250,918 | | |
$ | 65,514 | | |
$ | 316,432 | |
| Additions during the year: | |
| | | |
| | | |
| | |
| New leases | |
| 35,295 | | |
| 20,291 | | |
| 55,586 | |
| Adjustments for indexation | |
| 5,861 | | |
| 1,011 | | |
| 6,872 | |
| Adjustments arising from translating financial statements of foreign operations | |
| 32,448 | | |
| 5,235 | | |
| 37,683 | |
| Modification of leases | |
| (8,157 | ) | |
| 1,381 | | |
| (6,776 | ) |
| Acquisition of subsidiaries | |
| - | | |
| 575 | | |
| 575 | |
| Disposals during the year: | |
| | | |
| | | |
| | |
| Termination of leases | |
| (15,298 | ) | |
| (15,166 | ) | |
| (30,464 | ) |
| Loss of control | |
| (46,334 | ) | |
| (7,776 | ) | |
| (54,110 | ) |
| | |
| | | |
| | | |
| | |
| Balance as of December 31, 2025 | |
| 254,733 | | |
| 71,065 | | |
| 325,798 | |
| | |
| | | |
| | | |
| | |
| Accumulated depreciation: | |
| | | |
| | | |
| | |
| Balance as of January 1, 2025 | |
| 124,020 | | |
| 36,187 | | |
| 160,207 | |
| Additions during the year: | |
| | | |
| | | |
| | |
| Depreciation | |
| 34,884 | | |
| 20,655 | | |
| 55,539 | |
| Adjustments arising from translating financial statements of foreign operations | |
| 21,994 | | |
| 1,546 | | |
| 23,540 | |
| Modification of leases | |
| (62 | ) | |
| 749 | | |
| 687 | |
| Disposals during the year: | |
| | | |
| | | |
| | |
| Termination of leases | |
| (8,843 | ) | |
| (14,294 | ) | |
| (23,137 | ) |
| Loss of control | |
| (30,686 | ) | |
| (5,814 | ) | |
| (36,500 | ) |
| Balance as of December 31, 2025 | |
| 141,307 | | |
| 39,029 | | |
| 180,336 | |
| Depreciated cost as of December 31, 2025 | |
| 113,426 | | |
| 32,036 | | |
| 145,462 | |
| | |
Land and buildings | | |
Motor vehicles | | |
Total | |
| Cost: | |
| | |
| | |
| |
| Balance as of January 1, 2024 | |
$ | 195,807 | | |
$ | 61,832 | | |
$ | 257,639 | |
| Additions during the year: | |
| | | |
| | | |
| | |
| New leases | |
| 61,449 | | |
| 20,399 | | |
| 81,848 | |
| Adjustments for indexation | |
| 6,181 | | |
| 596 | | |
| 6,777 | |
| Adjustments arising from translating financial statements of foreign operations | |
| (1,226 | ) | |
| (4,033 | ) | |
| (5,259 | ) |
| Modification of leases | |
| (473 | ) | |
| - | | |
| (473 | ) |
| Acquisition of subsidiaries | |
| 314 | | |
| - | | |
| 314 | |
| Disposals during the year: | |
| | | |
| | | |
| | |
| Termination of leases | |
| (11,134 | ) | |
| (13,280 | ) | |
| (24,414 | ) |
| | |
| | | |
| | | |
| | |
| Balance as of December 31, 2024 | |
| 250,918 | | |
| 65,514 | | |
| 316,432 | |
| | |
| | | |
| | | |
| | |
| Accumulated depreciation: | |
| | | |
| | | |
| | |
| Balance as of January 1, 2024 | |
| 104,714 | | |
| 32,274 | | |
| 136,988 | |
| Additions during the year: | |
| | | |
| | | |
| | |
| Depreciation | |
| 28,663 | | |
| 20,221 | | |
| 48,884 | |
| Adjustments arising from translating financial statements of foreign operations | |
| (429 | ) | |
| (3,828 | ) | |
| (4,257 | ) |
| Disposals during the year: | |
| | | |
| | | |
| | |
| Termination of leases | |
| (8,928 | ) | |
| (12,480 | ) | |
| (21,408 | ) |
| Balance as of December 31, 2024 | |
| 124,020 | | |
| 36,187 | | |
| 160,207 | |
| Depreciated cost as of December 31, 2024 | |
| 126,898 | | |
| 29,327 | | |
| 156,225 | |
|