v3.26.1
Segment Reporting
12 Months Ended
Dec. 31, 2025
Disclosure of operating segments [abstract]  
Segment Reporting 16. Segment Reporting
The Company manages its activities and operates as one business unit which is reflected in its organizational structure
and internal reporting. The Company does not distinguish in its internal reporting different segments, neither business
nor geographical segments. The chief operating decision-maker is the Board of Directors.
Following table summarizes the product net sales by country of sales based on the country of the entity that recognizes
product net sales:
Year Ended December 31,
(in thousands of $)
    
2025
    
20241)
2023
United States
$
3,533,939
$
1,895,919
$
1,046,592
Japan
206,835
89,389
56,432
China
67,920
39,177
14,907
Rest of the World
342,622
161,398
72,852
Total product net sales
 
$
4,151,316
$
2,185,883
$
1,190,783
1)Comparative figures have been presented to be consistent with the presentation adopted in the current year.
Four U.S. customers represent approximately 78% of the product net sales during the twelve months ended
December 31, 2025 (compared to five U.S. customers which represented 87% in 2024 and four customers which
represented 86% for the same period in 2023).
The non-current assets including property, plant and equipment and intangible assets are presented geographically as
shown in the table below:
Year Ended December 31,
(in thousands of $)
   
 
2025
   
 
2024
2023
Belgium
 
303,026
 
209,758
 
138,252
United States
 
9,235
 
11,557
 
6,219
Japan
 
1,916
 
2,242
 
2,971
Rest of the World
6,173
1,405
461
Total non-current assets
 
$
320,350
 
$
224,962
$
147,903
Product net sales and non-current assets in the Netherlands, the Company’s country of domicile, are not material.