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Liabilities for Employee Benefits, Net

12 Months Ended

Dec. 31, 2025

NOTE 12 – LIABILITIES FOR EMPLOYEE BENEFITS, NET

	December 31
	2025		2024
A. Composition:

Present value of defined benefit liabilities		351		260
Less - fair value of plans’ assets		287		225
		64		35

B.	Changes in the present value of defined benefit liabilities

	December 31
	2025		2024

Balance at beginning of year		260		234
Current service cost		6		7
Interest cost		15		12
Benefits paid		-		-
Expenses in respect of exchange rate differences		42		(1	)
Net actuarial loss		28		8
Balance at end of year		351		260

C.	Plans’ assets

The plans’ assets include severance pay funds, and the severance pay component in executive insurance policies and in pension funds.

Changes in the fair value of plan assets

	2025		2024

Balance at beginning of year		225		204
Expected return on plan assets		13		11
Employer contributions		7		-
Benefits paid		-		-
Income from exchange rate differences		34		(1	)
Net actuarial gain		8		11
Balance at end of year		287		225

Actual return on plan assets		21		25

D.	Expenses in respect of defined benefit plans

	For the year ended December 31,
	2025			2024

Current service cost		(1	)		7
Interest cost		15			2
Expected return on plans’ assets		(13	)		-
Exchange rate differentials, net		7			-
		8			9
Presentation in profit and loss:
Cost of revenue		6			7
Finance expenses		2			2
		8			9

Presentation in other comprehensive loss (income)		20			(3	)

E.	Key actuarial assumptions

	December 31,
	2025			2024

Discount rate		4.78	%		5.53	%

The expected weighted average cost of capital on plans’ assets		5.53	%		5.57	%

Expected pay rise rate		1.98	%		2.39	%

F.	Expenses in respect of defined contribution plans

	For the year ended December 31,
	2025		2024

Expenses in respect of employee benefits		8		9

Presentation on profit and loss:
Cost of revenue		1		3
Research and development expenses		1		1
Selling and marketing expenses		2		2
General and administrative expenses		4		3
		8		9