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Employee benefits | 12 Months Ended
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Dec. 31, 2023
Employee benefits |
Employee benefits | Note 22. Employee benefits The defined contribution plans are related to various subsidiaries. The contributions are recognized as expenses in personnel expenses in the consolidated statements of profit or loss and other comprehensive income and amount to €4.9 million, €3.5 million and €3.5 million during the years ended December 31, 2023, 2022 and 2021, respectively. No further obligation exists besides the contributions paid. The Company has four pension plans classified as defined benefit plans. These plans are held in Switzerland, Austria, Slovenia and Philippines. Out of the four plans, only the Switzerland plan is partially funded. The contributions to the fund are based on the percentage of the insured salary, a part of which needs to be paid by the employees and a part by the employer. The amounts recognized in the consolidated statements of financial position for the defined benefit pension plans as of December 31, 2023 and 2022 are as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
in €‘000 |  | 2023 |  | 2022
Defined benefit obligation |  | 14,129 |  | 10,412
Fair value of plan assets |  | (13,086) |  | (10,215)
Net defined benefit liability |  | 1,043 |  | 197
​ The net defined benefit liability is included in other non-current liabilities in the consolidated statements of financial position. The movements in the defined benefit obligation are as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
in €‘000 |  | 2023 |  | 2022
Defined benefit obligation as of January 1, |  | 10,412 |  | 11,456
Interest expense on defined benefit obligation |  | 280 |  | 44
Current service cost |  | 558 |  | 726
Contributions by plan participants |  | 490 |  | 369
Benefits (paid) / deposited |  | 904 |  | 56
Past service cost |  | — |  | —
Administration cost (excl. cost for managing plan assets) |  | 6 |  | 6
Actuarial loss (gain) on defined benefit obligation |  | 967 |  | (2,855)
Exchange rate loss |  | 512 |  | 610
Defined benefit obligation as of December 31, |  | 14,129 |  | 10,412
​ The defined benefit obligations of the four plans as of December 31, 2023 and 2022 is as follows: Switzerland: (2023: €13.3 million; 2022: €9.7 million), Austria (2023: €0.4 million; 2022: €0.4 million), Slovenia (2023: €0.3 million; 2022: €0.2 million) and Philippines (2023: €0.2 million; 2022: €0.1 million). The movements in the fair value of plan assets are as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
in €‘000 |  | 2023 |  | 2022
Fair value of plan assets as of January 1, |  | 10,215 |  | 9,365
Interest income on plan assets |  | 275 |  | 31
Contributions by the employer |  | 628 |  | 452
Contributions by plan participants |  | 490 |  | 369
Benefits deposited (paid) |  | 909 |  | (53)
Others |  | — |  | 204
Return on plan assets excl. interest income |  | (182) |  | (596)
Exchange rate gain |  | 509 |  | 522
Adjustment to asset ceiling |  | 242 |  | (79)
Fair value of plan assets as of December 31, |  | 13,086 |  | 10,215
​

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- Definition The entire disclosure for employee benefits. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2023-01-01 -Section Scope -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS19_g2-7_TI -URIDate 2023-03-23 + Details
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