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New and amended standards and interpretations (Tables)
 12 Months Ended
Dec. 31, 2024
Disclosure of expected impact of initial application of new standards or interpretations [abstract]  
Disclosure of Initial application of Standards or Interpretations
DescriptionStandard ReferenceIASB Effective Date
Classification of Liabilities as Current or Non-current
Amendments to IAS 1January 1, 2024
Non-current Liabilities with Covenants
Amendments to IAS 1January 1, 2024
Supplier Finance Arrangements
Amendments to IAS 7 and IFRS 7
January 1, 2024
Sale and Leaseback Transactions
Amendment to IFRS 16January 1, 2024
New and amended standards and interpretations
On is currently assessing the adoption of the standards listed below (excluding "Amendments to IAS 21") and has not applied any of the following new and revised IFRS Accounting Standards that have been issued by the IASB but are not yet effective. On does not expect Amendments to IAS 21 to have a material impact on the Company`s consolidated financial statements and disclosures.

DescriptionStandard ReferenceIASB Effective Date
The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability
Amendments to IAS 21
January 1, 2025
Amendments to the Classification and Measurement of Financial Instruments
Amendments to IFRS 9 and IFRS 7
January 1, 2026
Presentation and Disclosure in Financial Statements
IFRS 18
January 1, 2027

IFRS 18 – Presentation and Disclosures in Financial Statements that will replace International Accounting Standards ("IAS") 1 – Presentation of Financial Statements from its effective date, was issued on April 9, 2024 by the IASB. IFRS 18 introduces new requirements for information presented in the primary financial statements and disclosed in the notes. The accounting standard introduces three new defined categories for income and expenses - operating, investing and financing, and requires all companies to provide certain new defined subtotals. IFRS 18 also requires companies to disclose explanations of company-specific measures that are related to the income statement, referred to as management-defined performance measures. Moreover, the accounting standard sets out enhanced guidance on how to organize information and whether to provide it in the primary financial statements or in the notes and requires companies to provide more transparency about operating expenses. IFRS 18 will be retroactively effective for annual reporting periods beginning on or after January 1, 2027, but early adoption is permitted. On is evaluating the impact of IFRS 18 on the Company's financial statements and disclosures.