v3.25.4
Borrowings
 12 Months Ended
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 USD20242025
Current3,938 3,793 
Non-current7,260 7,929 
Total Lease liabilities11,198 11,722 
Set out below is the maturity of the lease liabilities classified as non-current:
In thousands of USDOne to five yearsMore than five yearsTotal
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 USDJanuary 1, 2025Additions and modificationsPaymentsReclassificationEffect of translationDecember 31, 2025
Current lease liabilities3,938 5,029 (6,324)1,114 36 3,793 
Non-current lease liabilities7,260 1,024 — (1,114)759 7,929 
Total liabilities from financing activities11,198 6,053 (6,324)— 795 11,722 
In thousands of USDJanuary 1, 2024 Additions and modificationsPaymentsReclassificationEffect of translationDecember 31, 2024
Current lease liabilities3,718 4,976 (5,123)696 (329)3,938 
Non-current lease liabilities2,357 6,086 — (696)(487)7,260 
Total liabilities from financing activities6,075 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 USD20242025
Short-term leases1,265 918 
Variable lease payments90 70 
Total expense1,355 988 
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).