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Borrowings | 12 Months Ended
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Dec. 31, 2025
Financial Instruments [Abstract] |
Borrowings | 19 Borrowings Lease liabilities are presented in the statement of financial position as follows:
|  | As of December 31,
In thousands of USD |  | 2024 |  | 2025
Current |  | 3,938 |  |  | 3,793 |
Non-current |  | 7,260 |  |  | 7,929 |
Total Lease liabilities |  | 11,198 |  |  | 11,722 |
Set out below is the maturity of the lease liabilities classified as non-current:
In thousands of USD |  | One to five years |  | More than five years |  | Total
Lease liability future payments (undiscounted cash flows) |  | 13,220 |  |  | 3,138 |  |  | 16,358 |
Cash flows discounting effect |  | (7,602) |  |  | (827) |  |  | (8,429) |
Lease liability future payments (discounted cash flows) |  | 5,618 |  |  | 2,311 |  |  | 7,929 |
The Group has several lease contracts that include extension and termination options. Whenever the contracts do not include a mutual agreement clause, the Group applies judgment in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. There are no future cash outflows as of December 31, 2025 to which the Group is potentially exposed that are not reflected in the measurement of lease liabilities and relates to new contracts signed in 2026 or potential renewals. Changes in liabilities arising from financing activities
In thousands of USD |  | January 1, 2025 |  | Additions and modifications |  | Payments |  | Reclassification |  | Effect of translation |  | December 31, 2025
Current lease liabilities |  | 3,938 |  |  | 5,029 |  |  | (6,324) |  |  | 1,114 |  |  | 36 |  |  | 3,793 |
Non-current lease liabilities |  | 7,260 |  |  | 1,024 |  |  | — |  |  | (1,114) |  |  | 759 |  |  | 7,929 |
Total liabilities from financing activities |  | 11,198 |  |  | 6,053 |  |  | (6,324) |  |  | — |  |  | 795 |  |  | 11,722 |
In thousands of USD |  | January 1, 2024 |  | Additions and modifications |  | Payments |  | Reclassification |  | Effect of translation |  | December 31, 2024
Current lease liabilities |  | 3,718 |  |  | 4,976 |  |  | (5,123) |  |  | 696 |  |  | (329) |  |  | 3,938 |
Non-current lease liabilities |  | 2,357 |  |  | 6,086 |  |  | — |  |  | (696) |  |  | (487) |  |  | 7,260 |
Total liabilities from financing activities |  | 6,075 |  |  | 11,062 |  |  | (5,123) |  |  | — |  |  | (816) |  |  | 11,198 |
Additions and modifications include USD 2,781 thousand of accrued interest as of December 31, 2025 (2024: USD 1,532 thousand) as described in Note 7. Lease payments not recognized as a liability The group has elected not to recognize a lease liability for short term leases (leases of expected term of 12 months or less) or for leases of low value assets. Payments made under such leases are expensed on a straight-line basis. In addition, certain variable lease payments are not permitted to be recognized as lease liabilities and are expensed as incurred. The expense relating to payments not included in the measurement of the lease liability is as follows:
|  | As of December 31,
In thousands of USD |  | 2024 |  | 2025
Short-term leases |  | 1,265 |  |  | 918 |
Variable lease payments |  | 90 |  |  | 70 |
Total expense |  | 1,355 |  |  | 988 |
At December 31, 2025 the Group was committed to short-term leases and the total commitment at that date was USD 338 thousand (2024: USD 395 thousand).

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2025-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2025-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2025-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2025-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2025-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2025-03-27 + Details
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- Definition Financial Instruments + References No definition available. + Details
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