Trade and Other Payables


	As of December 31,
(in thousands of $)	2025		2024		2023
Trade payables	$	554,268	$	342,228	$	245,557
Sales rebates and reserves		402,032		140,474		55,788
Short‑term employee benefits		212,344		150,818		95,104
Other		98,500		16,473		17,564
Total trade and other payables	$	1,267,144	$	649,993	$	414,013

The carrying amounts of trade and other payables approximate their respective fair values. Trade payables correspond

primarily to R&D, commercial and manufacturing activities and include accrued expenses related to these activities.

Short-term employee benefits include payables and accruals for salaries and bonuses to be paid to the employees of the

The following table summarizes the movement in the sales rebates and reserves for the year ended December 31, 2025,


(in thousands of $)		Rebates and chargebacks		Distribution fees, product returns		Total sales rebates and reserves
Balance on January 1, 2023	$	15,398	$	4,079	$	19,478
Current estimate related to the sales made in the current year		123,542		26,427		149,969
Adjustment for prior periods		(4,041)		(883)		(4,924)
Credits or payments1)		(85,237)		(23,497)		(108,734)
Balance on December 31, 2023	$	49,662	$	6,126	$	55,788
Current estimate related to the sales made in the current year		285,863		50,239		336,102
Adjustment for prior periods		(10,912)		(162)		(11,074)
Credits or payments1)		(197,202)		(43,140)		(240,342)
Balance on December 31, 2024	$	127,411	$	13,063	$	140,474
Current estimate related to the sales made in the current period		824,251		132,171		956,422
Adjustment for prior periods		(6,507)		2,038		(4,469)
Credits or payments		(583,779)		(112,685)		(696,464)
Foreign currency translation differences		6,584		(515)		6,069
Balance on December 31, 2025	$	367,960	$	34,072	$	402,032

1)Comparative figures have been aligned to the presentation adopted in the current year.