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Deferred Tax Assets and Liabilities | 12 Months Ended
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Dec. 31, 2025
Net deferred tax assets and liabilities [abstract] |
Deferred Tax Assets and Liabilities | 8 Deferred Tax Assets and Liabilities The Group records the tax effect resulting from temporary differences between the assets and liabilities determined on an accounting basis and on a tax basis. As of December 31, 2025 and December 31, 2024, on a consolidated basis, the movement by nature of Net Deferred Tax Assets and Liabilities are as follows:
|  | As of December 31,
In thousands of USD |  | 2024 |  | Profit / (Loss) |  | OCI Gain / (Loss) |  | Effect of translation |  | 2025
Financial assets measured at fair value through OCI |  | 944 |  |  | — |  |  | (944) |  |  | — |  |  | — |
Tax losses |  | 1,885 |  |  | (1,256) |  |  | — |  |  | 324 |  |  | 953 |
Tax benefits |  | 298 |  |  | — |  |  | — |  |  | 28 |  |  | 326 |
Leases |  | 1,945 |  |  | (53) |  |  | — |  |  | — |  |  | 1,892 |
Deferred tax assets offset |  | (4,749) |  |  | 2,228 |  |  | — |  |  | (324) |  |  | (2,845) |
Total Deferred tax assets |  | 323 |  |  | 919 |  |  | (944) |  |  | 28 |  |  | 326 |
|  | As of December 31,
In thousands of USD |  | 2024 |  | Profit / (Loss) |  | OCI Gain / (Loss) |  | Effect of translation |  | 2025
Assets depreciation and amortization |  | (273) |  |  | 119 |  |  | — |  |  | — |  |  | (154) |
Unrealized foreign exchange gains - P&L |  | (2,141) |  |  | 2,404 |  |  | — |  |  | (293) |  |  | (30) |
Leases |  | (2,784) |  |  | 220 |  |  | — |  |  | — |  |  | (2,564) |
Others |  | (91) |  |  | (132) |  |  | — |  |  | — |  |  | (223) |
Deferred tax liabilities offset |  | 4,749 |  |  | (2,228) |  |  | — |  |  | 324 |  |  | 2,845 |
Total Deferred tax liabilities |  | (540) |  |  | 383 |  |  | — |  |  | 31 |  |  | (126) |
|  | As of December 31,
In thousands of USD |  | 2023 |  | Profit / (Loss) |  | OCI Gain / (Loss) |  | Effect of translation |  | 2024
Financial assets measured at fair value through OCI |  | 2,058 |  |  | — |  |  | (1,114) |  |  | — |  |  | 944 |
Tax losses |  | 7,464 |  |  | (3,064) |  |  | — |  |  | (2,515) |  |  | 1,885 |
Tax benefits |  | 497 |  |  | (199) |  |  | — |  |  | — |  |  | 298 |
Leases |  | 1,407 |  |  | 538 |  |  | — |  |  | — |  |  | 1,945 |
Deferred tax assets offset |  | (10,895) |  |  | 3,631 |  |  | — |  |  | 2,515 |  |  | (4,749) |
Total Deferred tax assets |  | 531 |  |  | 906 |  |  | (1,114) |  |  | — |  |  | 323 |
|  | As of December 31,
In thousands of USD |  | 2023 |  | Profit / (Loss) |  | OCI Gain / (Loss) |  | Effect of translation |  | 2024
Assets depreciation and amortization |  | (421) |  |  | 148 |  |  | — |  |  | — |  |  | (273) |
Unrealized foreign exchange gains - P&L |  | (8,854) |  |  | 4,234 |  |  | — |  |  | 2,479 |  |  | (2,141) |
Leases |  | (1,684) |  |  | (1,100) |  |  | — |  |  | — |  |  | (2,784) |
Others |  | (140) |  |  | 49 |  |  | — |  |  | — |  |  | (91) |
Deferred tax liabilities offset |  | 10,895 |  |  | (3,631) |  |  | — |  |  | (2,515) |  |  | 4,749 |
Total Deferred tax liabilities |  | (204) |  |  | (300) |  |  | — |  |  | (36) |  |  | (540) |
As mentioned on the accounting policies, Note 2 t), the offset between deferred tax assets and liabilities is performed at each subsidiary level. Deferred tax liability for foreign currency exchange on net investment amounting to USD 2,413 thousand (2024: USD 7,696 thousand) was not recognized as the Group is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future.

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