\n SoftwareOne Holding AG (\u201cthe company\u201d) and its subsidiaries (together \u201cthe group\u201d or \u201cSoftwareOne\u201d) is a leading software and cloud solutions provider. It develops and delivers technology solutions that modernize applications and software in the cloud, while enabling those purchases and optimizing those investments over time.
The company is incorporated and domiciled in Stans, Switzerland. The address of its registered office is Riedenmatt 4, 6370 Stans. SoftwareOne Holding AG is traded on the SIX Swiss Exchange and since July 3, 2025, on the Euronext Oslo B\u00f8rs under the ticker symbol \u201cSWON\u201d.
The consolidated financial statements of SoftwareOne are presented in Swiss francs (CHF). Unless otherwise stated, all amounts are given in millions of Swiss francs. Due to rounding, numbers presented throughout this report may not add up precisely to the totals provided.
These consolidated financial statements were authorized for issue by the Board of Directors on March 30, 2026, and are subject to approval by the Annual General Meeting to be held on May 22, 2026.
SoftwareOne Holding AG\u2019s consolidated financial statements are prepared in accordance with the\u00a0IFRS Accounting Standards as issued by the International Accounting Standards Board (IASB) and in accordance with IAS 1 Presentation of Financial Statements. Material accounting policy information is included in the notes to which they relate.
As of January 1, 2025, the amendment to IAS 21: \u201cThe Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability\u201d entered into force, but has not had a significant impact on the group. SoftwareOne has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.
The IASB has issued several potentially relevant changes to IFRS Accounting Standards that will be effective in future accounting periods.
In April 2024, the International Accounting Standards Board (IASB) published\u00a0IFRS 18 \u201cPresentation and Disclosure in Financial Statements\u201d, which will become effective on January 1, 2027, replacing IAS 1. The new standard is to be applied retrospectively. IFRS 18 introduces new requirements for information presented in the primary financial statements and disclosure in the notes, with a particular focus on the income statement with new categories and subtotals. The group will adopt the new standard in 2027 and is currently assessing the impact. The new standard primarily impacts the structure of the consolidated income statement and reporting of certain lines thereof. In addition, IFRS 18 will introduce new requirements for the disclosures in the notes to the financial statements such as management-defined performance measures (MPM). SoftwareOne is currently evaluating options for the presentation of internal reporting and the MPM.
In addition, amendments to standards that are expected to have only a minor impact on the group, and their effective date, are listed below:
There are no other IFRS Accounting Standards, IFRIC interpretations or amendments that are not yet effective that would be expected to have a material impact on the group.
Following the acquisition of Crayon at the beginning of July, operating segments have been reassessed. Given Crayon\u2019s significant presence in the Nordics and the CEE, the rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The change in the breakdown of the financial information reflects an increased management focus, the level of decision-making and the relative importance of the profits and assets of the new operating segments. In addition, the Middle East subregion encompassing Dubai and Quatar was moved from APAC to WEMEA. Comparative information has been adjusted accordingly, see also\u00a0Note 28 Segment reporting.
The operating segments constitute the lowest level at which goodwill is monitored for internal management purposes. As a result, the group reallocated the goodwill previously allocated to rEMEA to Nordics, WEMEA and CEE. The split was performed on the basis of the relative value of the recoverable amount. The change for Middle East had no impact on goodwill allocation.
The following table shows the composition of goodwill by CGU after the reallocation as of July 2, 2025 (prior to the recognition of the goodwill from the Crayon acquisition):
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n REMEA\n \n | \n \n \n WEMEA\n \n | \n \n \n Nordics\n \n | \n \n \n CEE\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Prior to reallocation\n \n | \n \n \n 137.0\n \n | \n \n \n 256.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 26.2\n \n | \n \n \n 33.4\n \n | \n \n \n 23.2\n \n | \n \n \n 476.1\n \n | \n
| \n \n Reallocation\n \n | \n \n \n -\n \n | \n \n \n \u2013256.3\n \n | \n \n \n 110.8\n \n | \n \n \n 126.0\n \n | \n \n \n 19.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n After reallocation\n \n | \n \n \n 137.0\n \n | \n \n \n -\n \n | \n \n \n 110.8\n \n | \n \n \n 126.0\n \n | \n \n \n 19.5\n \n | \n \n \n 26.2\n \n | \n \n \n 33.4\n \n | \n \n \n 23.2\n \n | \n \n \n 476.1\n \n | \n
The group has made the following presentational changes in 2025, and comparative information has been adjusted accordingly:
Given its dual listing on the Euronext Oslo B\u00f8rs, SoftwareOne reports on climate risks and opportunities and has implemented the requirements of the EU\u2019s Corporate Sustainability Reporting Directive/European Sustainability Reporting Standards. The potential climate change-related risks and opportunities to which the group is exposed, as identified by management, are disclosed in the group\u2019s Sustainability Statement. Management has assessed the potential financial impacts relating to the identified risks and exercised judgement in concluding that there are no material financial impacts of the group\u2019s climate-related risks and opportunities on the financial statements. These judgements will be kept under review by management as the future impacts of climate change depend on environmental, regulatory and other factors outside of the group\u2019s control which are not all currently known.
The following exchange rates were used:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||
| \n \n Currency (CHF 1 =)\n \n | \n \n \n Code\n \n | \n \n \n Average rate\n \n | \n \n \n Closing rate\n \n | \n \n \n Average rate\n \n | \n \n \n Closing rate\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Euro\n \n | \n \n \n EUR\n \n | \n \n \n 1.07\n \n | \n \n \n 1.08\n \n | \n \n \n 1.05\n \n | \n \n \n 1.06\n \n | \n
| \n \n US dollar\n \n | \n \n \n USD\n \n | \n \n \n 1.21\n \n | \n \n \n 1.26\n \n | \n \n \n 1.14\n \n | \n \n \n 1.10\n \n | \n
\n SoftwareOne Holding AG (\u201cthe company\u201d) and its subsidiaries (together \u201cthe group\u201d or \u201cSoftwareOne\u201d) is a leading software and cloud solutions provider. It develops and delivers technology solutions that modernize applications and software in the cloud, while enabling those purchases and optimizing those investments over time.
The company is incorporated and domiciled in Stans, Switzerland. The address of its registered office is Riedenmatt 4, 6370 Stans. SoftwareOne Holding AG is traded on the SIX Swiss Exchange and since July 3, 2025, on the Euronext Oslo B\u00f8rs under the ticker symbol \u201cSWON\u201d.
The consolidated financial statements of SoftwareOne are presented in Swiss francs (CHF). Unless otherwise stated, all amounts are given in millions of Swiss francs. Due to rounding, numbers presented throughout this report may not add up precisely to the totals provided.
These consolidated financial statements were authorized for issue by the Board of Directors on March 30, 2026, and are subject to approval by the Annual General Meeting to be held on May 22, 2026.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-3": { "value": "\n SoftwareOne Holding AG (\u201cthe company\u201d) and its subsidiaries (together \u201cthe group\u201d or \u201cSoftwareOne\u201d) is a leading software and cloud solutions provider. It develops and delivers technology solutions that modernize applications and software in the cloud, while enabling those purchases and optimizing those investments over time.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-4": { "value": "SoftwareOne Holding AG", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-5": { "value": "AG", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-6": { "value": "Switzerland", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-7": { "value": "Switzerland", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-8": { "value": "Switzerland", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-9": { "value": "Riedenmatt 4, 6370 Stans", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-10": { "value": "The consolidated financial statements of SoftwareOne are presented in Swiss francs (CHF). Unless otherwise stated, all amounts are given in millions of Swiss francs. Due to rounding, numbers presented throughout this report may not add up precisely to the totals provided.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-11": { "value": "The consolidated financial statements of SoftwareOne are presented in Swiss francs (CHF). Unless otherwise stated, all amounts are given in millions of Swiss francs. Due to rounding, numbers presented throughout this report may not add up precisely to the totals provided.
SoftwareOne Holding AG\u2019s consolidated financial statements are prepared in accordance with the\u00a0IFRS Accounting Standards as issued by the International Accounting Standards Board (IASB) and in accordance with IAS 1 Presentation of Financial Statements. Material accounting policy information is included in the notes to which they relate.
As of January 1, 2025, the amendment to IAS 21: \u201cThe Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability\u201d entered into force, but has not had a significant impact on the group. SoftwareOne has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.
The IASB has issued several potentially relevant changes to IFRS Accounting Standards that will be effective in future accounting periods.
In April 2024, the International Accounting Standards Board (IASB) published\u00a0IFRS 18 \u201cPresentation and Disclosure in Financial Statements\u201d, which will become effective on January 1, 2027, replacing IAS 1. The new standard is to be applied retrospectively. IFRS 18 introduces new requirements for information presented in the primary financial statements and disclosure in the notes, with a particular focus on the income statement with new categories and subtotals. The group will adopt the new standard in 2027 and is currently assessing the impact. The new standard primarily impacts the structure of the consolidated income statement and reporting of certain lines thereof. In addition, IFRS 18 will introduce new requirements for the disclosures in the notes to the financial statements such as management-defined performance measures (MPM). SoftwareOne is currently evaluating options for the presentation of internal reporting and the MPM.
In addition, amendments to standards that are expected to have only a minor impact on the group, and their effective date, are listed below:
There are no other IFRS Accounting Standards, IFRIC interpretations or amendments that are not yet effective that would be expected to have a material impact on the group.
Following the acquisition of Crayon at the beginning of July, operating segments have been reassessed. Given Crayon\u2019s significant presence in the Nordics and the CEE, the rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The change in the breakdown of the financial information reflects an increased management focus, the level of decision-making and the relative importance of the profits and assets of the new operating segments. In addition, the Middle East subregion encompassing Dubai and Quatar was moved from APAC to WEMEA. Comparative information has been adjusted accordingly, see also\u00a0Note 28 Segment reporting.
The operating segments constitute the lowest level at which goodwill is monitored for internal management purposes. As a result, the group reallocated the goodwill previously allocated to rEMEA to Nordics, WEMEA and CEE. The split was performed on the basis of the relative value of the recoverable amount. The change for Middle East had no impact on goodwill allocation.
The following table shows the composition of goodwill by CGU after the reallocation as of July 2, 2025 (prior to the recognition of the goodwill from the Crayon acquisition):
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n REMEA\n \n | \n \n \n WEMEA\n \n | \n \n \n Nordics\n \n | \n \n \n CEE\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Prior to reallocation\n \n | \n \n \n 137.0\n \n | \n \n \n 256.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 26.2\n \n | \n \n \n 33.4\n \n | \n \n \n 23.2\n \n | \n \n \n 476.1\n \n | \n
| \n \n Reallocation\n \n | \n \n \n -\n \n | \n \n \n \u2013256.3\n \n | \n \n \n 110.8\n \n | \n \n \n 126.0\n \n | \n \n \n 19.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n After reallocation\n \n | \n \n \n 137.0\n \n | \n \n \n -\n \n | \n \n \n 110.8\n \n | \n \n \n 126.0\n \n | \n \n \n 19.5\n \n | \n \n \n 26.2\n \n | \n \n \n 33.4\n \n | \n \n \n 23.2\n \n | \n \n \n 476.1\n \n | \n
The group has made the following presentational changes in 2025, and comparative information has been adjusted accordingly:
Given its dual listing on the Euronext Oslo B\u00f8rs, SoftwareOne reports on climate risks and opportunities and has implemented the requirements of the EU\u2019s Corporate Sustainability Reporting Directive/European Sustainability Reporting Standards. The potential climate change-related risks and opportunities to which the group is exposed, as identified by management, are disclosed in the group\u2019s Sustainability Statement. Management has assessed the potential financial impacts relating to the identified risks and exercised judgement in concluding that there are no material financial impacts of the group\u2019s climate-related risks and opportunities on the financial statements. These judgements will be kept under review by management as the future impacts of climate change depend on environmental, regulatory and other factors outside of the group\u2019s control which are not all currently known.
The following exchange rates were used:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||
| \n \n Currency (CHF 1 =)\n \n | \n \n \n Code\n \n | \n \n \n Average rate\n \n | \n \n \n Closing rate\n \n | \n \n \n Average rate\n \n | \n \n \n Closing rate\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Euro\n \n | \n \n \n EUR\n \n | \n \n \n 1.07\n \n | \n \n \n 1.08\n \n | \n \n \n 1.05\n \n | \n \n \n 1.06\n \n | \n
| \n \n US dollar\n \n | \n \n \n USD\n \n | \n \n \n 1.21\n \n | \n \n \n 1.26\n \n | \n \n \n 1.14\n \n | \n \n \n 1.10\n \n | \n
Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
The group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk), credit risk and liquidity risk. The group\u2019s overall risk management program is focused on mitigating the unpredictability of financial markets and aims to minimize potential adverse effects on the group\u2019s financial performance. To hedge certain risk exposures, the group uses derivative financial instruments, which are measured using standardized mathematical models.
Risk management is carried out by Group Treasury under the Global Treasury Policy approved by the Board of Directors. Group Treasury identifies, evaluates, and hedges financial risks in close cooperation with the group\u2019s operating entities. The Board provides written principles for overall risk management, as well as written policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments and investment of excess liquidity.
The group operates internationally and is exposed to foreign exchange risk arising from various currency exposures. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations.
The group hedges its foreign exchange risk exposure of recognized assets and liabilities and future commercial transactions with derivative contracts. The group reviews the currency exposure regularly and covers its risks in two ways:
The group hedges the net exposure from foreign currency balance sheet positions with forward contracts. Such contracts, however, are not accounted for using hedge accounting.Highly probable future transactions\u00a0(sales and purchase) are hedged with forward transactions. These contracts are designated as cash flow hedges. The transactions are expected to affect profit and loss within the next 36 months. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item and the nature of the risk being hedged. The hedges are expected to be highly effective.There are certain investments in foreign operations whose net assets are exposed to foreign currency translation risk which, as per group policy, is not hedged. Long-term receivables from a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future, are considered a part of the net investment. These differences are recognized in other comprehensive income and accumulated in equity. Translation risk is not considered in the analysis below.
The following table details the group\u2019s sensitivity to the major currencies with all other variables held constant:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||||
| \n \n \nImpact in CHF million\n \n | \n \n \n \nSensitivity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n ||||
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EUR\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.3\n \n | \n \n \n +/\u2013\n \n | \n \n \n 0.1\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n
| \n \n USD\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.7\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.9\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.2\n \n | \n \n \n +/\u2013\n \n | \n \n \n 2.1\n \n | \n
The group\u2019s interest-bearing instruments with variable interest are cash, bank overdrafts, bank loans, a multi-currency revolving credit facility and a term loan facility, see also\u00a0Note 20 Financial liabilities. An interest rate risk exists due to changes in market interest rates. The group has managed the risk of changes in the interest rates based on limits using interest rate derivatives as part of the defined risk strategy. The underlying transactions are designated as cash flow hedges. They are expected to affect profit and loss until August 2029, respectively. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item, and the nature of the risk being hedged. The hedges are expected to be highly effective.
Interest rate swaps are held in CHF and USD. A change in interest rates of +/\u20130.25 basis points with all other variables held constant would have no impact on earnings before income tax for 2025 and 2024. The impact would be recognized in equity through the hedging reserve and would lead to an increase/decrease of CHF 2.7 for CHF in 2025. The impact for USD in 2025 would not be significant as well as the impact on both currencies for 2024.
In order to maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares.
For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
The group has entered into transactions in which it transfers trade receivables under factoring agreements and, as a result, may either be eligible to derecognize the transferred receivables in their entirety or must continue to recognize the transferred receivables to the extent of any continuing involvement, depending on certain criteria.
Receivables subject to factoring arrangements are derecognized on sale and these assets are not held to collect contractual cash flows and would be measured at fair value through profit or loss. However, due to their short-term nature, the difference between transaction price and fair value is not considered to be material. Where the factored receivables continue to be recognized in the balance sheet, they are treated as held to collect contractual cash flows and are measured at amortized cost.
The recoverable amount of cash-generating units is measured on the basis of value-in-use calculations and as such is significantly impacted by the projected free cashflows, the discount rate, future tax rate and the revenue growth rate, which are subject to management judgement. Actual cash flows as well as other input parameters could vary significantly from these estimates.
Revenue from contracts with customers comprises revenue from the sale of software and cloud licenses as well as the sale of technology consulting services. Revenue from contracts with customers is recognized when the performance obligation in the contract has been satisfied either at a \u201cpoint in time\u201d or \u201cover time\u201d as control of the promised goods or service is transferred to the customer at an amount that reflects the consideration to which the group expects to be entitled in exchange for those goods or services. The normal credit term is 30 to 90 days upon delivery.
SoftwareOne enters into contracts with end customers to sell software and cloud solutions\u00a0of several third-party software providers. Below, software is used as a synonym for software and cloud products.
SoftwareOne acts as a \u201cvalue added software reseller\u201d, providing pre-sales consulting services to end customers in connection with software sales. The group's performance obligation is to arrange for the provision of software\u00a0between the software provider and the end customer. Primary responsibility to provide the software lies with the software provider. SoftwareOne invoices the end customer and manages payment collections. SoftwareOne's performance obligation is satisfied when all parties have concluded the license agreement, and the software provider has accepted the contract and associated terms and conditions. The same applies for multi-period cloud consumption-based contracts with minimum commitments. Thus, SoftwareOne acts as an agent and recognizes revenue in the net amount in the consolidated financial statements, reflecting the difference between the consideration received from the end customer and the cost of software purchased.
The group also enters into multi-year licensing contracts with annual billing in which the end customer has the right to change the software reseller during the contract term. For such contracts, SoftwareOne recognizes revenue for the contract between the end customer and the software provider upfront for the entire term when all parties have concluded the contract, adjusting for the effects of a potential change in channel partner based on historical experience as a variable consideration, and presented net as contract asset.
SoftwareOne uses the practical expedient in IFRS 15 and does not adjust the promised amount of consideration for the effects of a significant financing component if it expects at contract inception that the period between the provision of access to the software license to the end customer and the receipt of the consideration from the end customer will be one year or less.
Revenue from technology consulting services is generally recognized over time as the customer simultaneously receives and consumes the benefits provided. SoftwareOne uses an input method based on costs incurred to measure progress towards the stage of completion of the service. The group has chosen this method of measuring progress because there is a direct relationship between SoftwareOne\u2019s effort and the transfer of the service to the customer. In addition, in cases where the group provides standardized services (i.e., managed services), revenue is recognized pro rata over the term of the contract. Payment is due 30 days after the solutions and services have been performed. As a rule, services are priced separately. If this is not the case, the transaction prices are allocated based on the relative stand-alone selling prices.
For service contracts in which the company only acts as an agent between the customer and the third-party service provider, revenue is recognized on a net basis in the consolidated financial statements, reflecting the difference between the consideration received from the customer and the third-party service delivery cost. Revenue is recognized at the point in time when the underlying service has been delivered to the end customer.
Revenue from external software which is only used to provide software asset management solutions is recognized at the point in time when control of the license is transferred to the customer. Related costs of software purchased are presented net under revenue from Software & Cloud Services.
Software & Cloud Channel represents the sale of software and cloud licenses to or through partners such as hosters, MSPs and ISVs who have the direct relationship with end customers. SoftwareOne invoices the partner who then invoices the end customer.\u00a0SoftwareOne's performance obligation is satisfied when the partner and the software provider have concluded the license agreement, and the software provider has accepted the contract and associated terms and conditions. Revenue recognition follows the principles previously described in Software & Cloud Direct for the sale of software and cloud licenses.
Deferred tax assets and liabilities are based on the temporary differences between group valuation and tax bases.
For some group companies, dividend payments are subject to a withholding tax which cannot be fully recovered in Switzerland. The company has not recognized deferred tax liabilities associated with investments in subsidiaries where the group is able to control the reversal of the temporary differences and where it is probable that the temporary differences will not reverse in the foreseeable future.
SoftwareOne applies the mandatory exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes. Pillar Two legislation has been enacted or substantively enacted in certain jurisdictions where the group operates. SoftwareOne is in scope of the enacted or substantively enacted legislation and has performed an assessment of the group\u2019s potential exposure to Pillar Two income taxes. The assessment of the potential exposure to Pillar Two income taxes is based on the most recent tax filings, country-by-country reporting and financial statements for the constituent entities in the group. Based on the assessment, SoftwareOne expects to meet one or more safe harbor tests in most of the jurisdictions in which the group operates. Pillar Two effective tax rates in most of the jurisdictions are above 15%. SoftwareOne does not expect any material exposure to Pillar Two income taxes.
Trade receivables are non-interest bearing and are generally on terms of 30 to 90 days.
For trade receivables and contract assets, the group applies a simplified approach in calculating an allowance for expected credit losses (ECLs). Therefore, the group does not track changes in credit risk. Instead, it recognizes a loss allowance based on lifetime ECLs at each reporting date. The group has established a provision matrix that is based on the group\u2019s historical observed default rates. The group calibrates the matrix to adjust the historical credit loss experience with forward-looking information. For instance, if forecast economic conditions (i.e., gross domestic product) are expected to deteriorate over the next year, which can lead to an increased number of defaults, the default rates are adjusted.
The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e., geographical region and customer rating and coverage by letters of credit or other forms of credit insurance). The calculation reflects the probability weighted outcome and reasonable and supportable information that is available at the reporting date about past events, current conditions, and forecasts of future economic conditions.
At each reporting date, the historical observed default rates are updated and changes in the forward-looking estimates are analyzed.
Tangible assets are stated at historical cost less depreciation and impairment. Depreciation is calculated using the straight-line method over the expected useful life as follows:
Land is not depreciatedBuildings: max. 33 yearsFurniture, fixtures and other equipment: max. 5 yearsLeasehold improvements: max. 10 years or shorter lease termVehicles: max. 5 yearsIT equipment: max. 3 yearsPurchased intangible assets such as software, acquired technology and customer relationships are measured at cost less accumulated amortization (applying the straight-line method) and any impairment. The useful life is as follows:
Software: 3\u201310 yearsAcquired customer relationships: max. 13 yearsAcquired technology and other intangible assets: 3\u201310 yearsInternally generated intangible assets: 3\u20135 yearsBrands with finite lives: 1\u20138 yearsThe SoftwareOne brand with a carrying amount of CHF 31.3 million was acquired in a business combination. It has been determined to have an indefinite useful life as there is no intention of abandoning the brand name. As it has existed for many years, the group can maintain its brand for an indefinite period of time. Thus, the brand name is not amortized but is assessed for impairment annually.
Goodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
Cash flow projections cover a detailed planning period of five years, during which operating profit is expected to grow in line with CGU\u2011specific market and business assumptions. Cash flows beyond this period are extrapolated using an annual terminal growth rate, based on weighted long-term inflation rate for the countries included in the CGU. Related assumptions reflect macroeconomic trends and historical information adjusted for current developments. Cash flows exclude expected benefits from future restructuring or significant capital enhancements.
The group leases various offices, cars, and IT equipment under non-cancellable lease agreements. Most lease agreements are renewable at market rate at the end of the lease period. Unless the group is reasonably certain of obtaining ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of their estimated useful life and the lease term. The useful life is as follows:
Buildings: max. 10 yearsVehicles: max. 5 yearsOther equipment: max. 5 yearsThe group applies the short-term lease recognition exemption to its short-term leases of other machinery and equipment (those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the exemption for leases of low-value assets recognition to leases of office equipment that are considered of low value (in other words, below CHF 5,000). Lease payments on short-term leases and leases of low-value assets are recognized as expenses on a straight-line basis over the lease term.
Other provisions primarily encompass provisions for loss-making contracts and legal claims.
Earn-out-related provisions are associated with contingent consideration arrangements that could result in additional cash payments to the previous owners of the companies acquired. They are presented as provisions if they are contingent on continued employment and thus compensation for services and recognized as personnel expenses during the period of service. The amount of the earn-out may also depend on KPI developments for a contractually defined period and, where appropriate, a multiplier derived from other variables.
\n The contingent consideration liability reflects the fair value of the expected payments. These estimates are reviewed at each reporting date and adjusted as necessary. Adjustments are booked in finance income or expenses. For further information, refer to explanation of \u201cLevel 3\u201d financial instruments in Note 4.3 Categories of financial instruments and fair value estimation.
The group operates various post-employment schemes including both defined benefit and defined contribution pension plans.
The liability or asset recognized in the balance sheet in respect of defined benefit plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. Actuarial gains or losses are recognized in OCI. Service costs are presented in personnel expenses. Interest costs and interest on plan assets are netted in finance expenses.
The group\u2019s retirement plans include defined benefit pension plans in Switzerland, Belgium, Germany, Austria, India, Mexico, Ecuador, France, Italy, Turkey, Costa Rica, and Indonesia. These plans, excluding those in Switzerland, Belgium, and Germany, are unfunded and all determined by local regulations using independent actuarial valuations according to IAS 19. The group\u2019s major defined benefit plans in Switzerland accounts for 84.7%\u00a0(prior year: 84.8%) of the group\u2019s present value of funded and unfunded obligations.
The current pension arrangement for employees in Switzerland is made through a plan governed by the Swiss Federal Occupational Old Age, Survivors and Disability Pension Act (OPA). The plans of SoftwareOne\u2019s Swiss companies are administered by a separate legal foundation, which is funded by regular employer and employee contributions defined in the pension fund rules. The Swiss pension plans contain a cash balance benefit which is essentially contribution-based, with certain minimum guarantees. Due to these minimum guarantees, the Swiss plans are treated as a defined benefit plan under IFRS Accounting Standards. The plans are invested in a diversified range of assets in accordance with the investment strategy and the common criteria of asset and liability management. A potential underfunding may be remedied by various measures such as increasing employer and employee contributions or reducing future benefits.
As an internationally operating group, SoftwareOne is exposed to contingencies in respect of legal and tax claims in the ordinary course of business. It is not anticipated that any material liabilities will arise from the contingent liabilities.
For management purposes, SoftwareOne is organized by geographical areas, with seven operating segments:
DACH (Germany, Austria and Switzerland)WEMEA (Western Europe, including Middle East and Africa)Nordics (Northern Europe)CEE (Central and Eastern Europe)NORAM (USA, Canada)LATAM (Latin America)APAC (Asia Pacific)Since the Crayon acquisition, the Co-CEO\u2019s have been the Chief Operating Decision Makers (CODM). They assess each of the operating segments separately for the purpose of evaluating performance and allocating resources. Revenue and adjusted EBITDA are the key performance indicators used by SoftwareOne for internal management and monitoring purposes. The group allocates revenue and expenses to regions based on the end customer\u2019s headquarter domicile since the region is responsible for the global client relationship. There are no intersegment revenues. Different average exchange rates are used in management reporting than for group consolidation purposes.
The segment totals are reconciled to the figures reported in the consolidated income statement (\u201cTotal\u201d column) as follows:
\"Removal Crayon H1\"\u00a0eliminates the income statement of Crayon group for the first half of 2025. The segment reporting includes Crayon for the full 12 months, comparable with pro-forma presentation, rather than a six-month period.\"Group\" includes the group cost centers and shared services costs.\"FX & Consolidation\" eliminates the effect of using differing average foreign exchange rates in the segment reporting and consolidation effects.\u201cOther\u201d includes other reconciling items that are not allocated to the segments and group in internal reporting. They consist of costs affecting comparability in operating expenses such as Crayon transaction and integration costs, other integration costs as well as M&A and earn-out expenses, restructuring expenses for the SoftwareOne's cost reduction programs, other non-recurring items which mainly relate to expenses for the strategic review and income from the release of provisions and an adjustment for the upfront recognition of multi-year licensing contracts in which the end customer has the right to change the software reseller during the contract term. Additionally, the column \u201cOther\u201d includes an adjustment for differences in accounting policies of IFRS 16 that are not reflected in the segments, an allocation of internal delivery costs to transition from the internal to the external reporting structure and, to a limited extent, minor reconciliation items.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90088-12": { "value": "These consolidated financial statements were authorized for issue by the Board of Directors on March 30, 2026, and are subject to approval by the Annual General Meeting to be held on May 22, 2026.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-1": { "value": "SoftwareOne Holding AG\u2019s consolidated financial statements are prepared in accordance with the\u00a0IFRS Accounting Standards as issued by the International Accounting Standards Board (IASB) and in accordance with IAS 1 Presentation of Financial Statements. Material accounting policy information is included in the notes to which they relate.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-2": { "value": "As of January 1, 2025, the amendment to IAS 21: \u201cThe Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability\u201d entered into force, but has not had a significant impact on the group. SoftwareOne has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.
The IASB has issued several potentially relevant changes to IFRS Accounting Standards that will be effective in future accounting periods.
In April 2024, the International Accounting Standards Board (IASB) published\u00a0IFRS 18 \u201cPresentation and Disclosure in Financial Statements\u201d, which will become effective on January 1, 2027, replacing IAS 1. The new standard is to be applied retrospectively. IFRS 18 introduces new requirements for information presented in the primary financial statements and disclosure in the notes, with a particular focus on the income statement with new categories and subtotals. The group will adopt the new standard in 2027 and is currently assessing the impact. The new standard primarily impacts the structure of the consolidated income statement and reporting of certain lines thereof. In addition, IFRS 18 will introduce new requirements for the disclosures in the notes to the financial statements such as management-defined performance measures (MPM). SoftwareOne is currently evaluating options for the presentation of internal reporting and the MPM.
In addition, amendments to standards that are expected to have only a minor impact on the group, and their effective date, are listed below:
Amendments to IFRS 9 and IFRS 7: Classification and Measurement of Financial Instruments and Contracts Referencing Nature dependent Electricity \u2013 adoption by January 1, 2026Annual Improvements to IFRS Accounting Standards - Volume 11 \u2013 adoption by January 1, 2026There are no other IFRS Accounting Standards, IFRIC interpretations or amendments that are not yet effective that would be expected to have a material impact on the group.
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates may differ from the actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
The group is subject to income taxes in numerous jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes.
In particular, the deferred tax assets on unused tax losses require estimates of the amount and dates of future taxable income as well as the future tax planning strategies. If the group does not expect to realize the unused tax losses, these are not recognized.
The recoverable amount of cash-generating units is measured on the basis of value-in-use calculations and as such is significantly impacted by the projected free cashflows, the discount rate, future tax rate and the revenue growth rate, which are subject to management judgement. Actual cash flows as well as other input parameters could vary significantly from these estimates.
These calculations are highly sensitive to key assumptions, including projected free cash flows, the discount rate, revenue growth rates and EBITDA/revenue ratio. Each of these assumptions involves significant management judgement, and actual outcomes may differ materially from the estimates applied.
Management exercises significant judgement in identifying CGUs and allocating goodwill to the relevant units that are expected to benefit from the business combination and in determining key drivers of value for each CGU and whether changes in the business, markets or organizational structure trigger the need for an updated impairment test outside the annual cycle.
Determining whether a present obligation exists and whether an economical outflow is probable often requires significant judgement. This particularly applies to legal disputes and claims, where the outcome is inherently uncertain and depends on interpretations of law, the strength of evidence, and external legal advice. If an outflow is possible rather than probable, or when the amount cannot be reliably estimated, contingent liabilities are disclosed. Contingent liabilities assumed in a business combination that are present obligations are recognized at acquisition date fair values, even if it is not probable that an outflow is probable.
The judgements require careful evaluation of available information, historical experience, and expert input. As outcomes may differ from management\u2019s assessments, actual results may vary and could lead to future adjustments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-3": { "value": "As of January 1, 2025, the amendment to IAS 21: \u201cThe Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability\u201d entered into force, but has not had a significant impact on the group. SoftwareOne has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.
The IASB has issued several potentially relevant changes to IFRS Accounting Standards that will be effective in future accounting periods.
In April 2024, the International Accounting Standards Board (IASB) published\u00a0IFRS 18 \u201cPresentation and Disclosure in Financial Statements\u201d, which will become effective on January 1, 2027, replacing IAS 1. The new standard is to be applied retrospectively. IFRS 18 introduces new requirements for information presented in the primary financial statements and disclosure in the notes, with a particular focus on the income statement with new categories and subtotals. The group will adopt the new standard in 2027 and is currently assessing the impact. The new standard primarily impacts the structure of the consolidated income statement and reporting of certain lines thereof. In addition, IFRS 18 will introduce new requirements for the disclosures in the notes to the financial statements such as management-defined performance measures (MPM). SoftwareOne is currently evaluating options for the presentation of internal reporting and the MPM.
In addition, amendments to standards that are expected to have only a minor impact on the group, and their effective date, are listed below:
Amendments to IFRS 9 and IFRS 7: Classification and Measurement of Financial Instruments and Contracts Referencing Nature dependent Electricity \u2013 adoption by January 1, 2026Annual Improvements to IFRS Accounting Standards - Volume 11 \u2013 adoption by January 1, 2026There are no other IFRS Accounting Standards, IFRIC interpretations or amendments that are not yet effective that would be expected to have a material impact on the group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-4": { "value": "Following the acquisition of Crayon at the beginning of July, operating segments have been reassessed. Given Crayon\u2019s significant presence in the Nordics and the CEE, the rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The change in the breakdown of the financial information reflects an increased management focus, the level of decision-making and the relative importance of the profits and assets of the new operating segments. In addition, the Middle East subregion encompassing Dubai and Quatar was moved from APAC to WEMEA. Comparative information has been adjusted accordingly, see also\u00a0Note 28 Segment reporting.
The operating segments constitute the lowest level at which goodwill is monitored for internal management purposes. As a result, the group reallocated the goodwill previously allocated to rEMEA to Nordics, WEMEA and CEE. The split was performed on the basis of the relative value of the recoverable amount. The change for Middle East had no impact on goodwill allocation.
Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
The recoverable amount of cash-generating units is measured on the basis of value-in-use calculations and as such is significantly impacted by the projected free cashflows, the discount rate, future tax rate and the revenue growth rate, which are subject to management judgement. Actual cash flows as well as other input parameters could vary significantly from these estimates.
The SoftwareOne brand with a carrying amount of CHF 31.3 million was acquired in a business combination. It has been determined to have an indefinite useful life as there is no intention of abandoning the brand name. As it has existed for many years, the group can maintain its brand for an indefinite period of time. Thus, the brand name is not amortized but is assessed for impairment annually.
Goodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-5": { "value": "Following the acquisition of Crayon at the beginning of July, operating segments have been reassessed. Given Crayon\u2019s significant presence in the Nordics and the CEE, the rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The change in the breakdown of the financial information reflects an increased management focus, the level of decision-making and the relative importance of the profits and assets of the new operating segments. In addition, the Middle East subregion encompassing Dubai and Quatar was moved from APAC to WEMEA. Comparative information has been adjusted accordingly, see also\u00a0Note 28 Segment reporting.
Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
The SoftwareOne brand with a carrying amount of CHF 31.3 million was acquired in a business combination. It has been determined to have an indefinite useful life as there is no intention of abandoning the brand name. As it has existed for many years, the group can maintain its brand for an indefinite period of time. Thus, the brand name is not amortized but is assessed for impairment annually.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-6": { "value": "Following the acquisition of Crayon at the beginning of July, operating segments have been reassessed. Given Crayon\u2019s significant presence in the Nordics and the CEE, the rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The change in the breakdown of the financial information reflects an increased management focus, the level of decision-making and the relative importance of the profits and assets of the new operating segments. In addition, the Middle East subregion encompassing Dubai and Quatar was moved from APAC to WEMEA. Comparative information has been adjusted accordingly, see also\u00a0Note 28 Segment reporting.
The operating segments constitute the lowest level at which goodwill is monitored for internal management purposes. As a result, the group reallocated the goodwill previously allocated to rEMEA to Nordics, WEMEA and CEE. The split was performed on the basis of the relative value of the recoverable amount. The change for Middle East had no impact on goodwill allocation.
Goodwill is presented separately in the balance sheet.Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
The recoverable amount of cash-generating units is measured on the basis of value-in-use calculations and as such is significantly impacted by the projected free cashflows, the discount rate, future tax rate and the revenue growth rate, which are subject to management judgement. Actual cash flows as well as other input parameters could vary significantly from these estimates.
The SoftwareOne brand with a carrying amount of CHF 31.3 million was acquired in a business combination. It has been determined to have an indefinite useful life as there is no intention of abandoning the brand name. As it has existed for many years, the group can maintain its brand for an indefinite period of time. Thus, the brand name is not amortized but is assessed for impairment annually.
Goodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-7": { "value": "The operating segments constitute the lowest level at which goodwill is monitored for internal management purposes. As a result, the group reallocated the goodwill previously allocated to rEMEA to Nordics, WEMEA and CEE. The split was performed on the basis of the relative value of the recoverable amount. The change for Middle East had no impact on goodwill allocation.
Goodwill is presented separately in the balance sheet.Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
The recoverable amount of cash-generating units is measured on the basis of value-in-use calculations and as such is significantly impacted by the projected free cashflows, the discount rate, future tax rate and the revenue growth rate, which are subject to management judgement. Actual cash flows as well as other input parameters could vary significantly from these estimates.
Purchased intangible assets such as software, acquired technology and customer relationships are measured at cost less accumulated amortization (applying the straight-line method) and any impairment. The useful life is as follows:
Software: 3\u201310 yearsAcquired customer relationships: max. 13 yearsAcquired technology and other intangible assets: 3\u201310 yearsInternally generated intangible assets: 3\u20135 yearsBrands with finite lives: 1\u20138 yearsThe SoftwareOne brand with a carrying amount of CHF 31.3 million was acquired in a business combination. It has been determined to have an indefinite useful life as there is no intention of abandoning the brand name. As it has existed for many years, the group can maintain its brand for an indefinite period of time. Thus, the brand name is not amortized but is assessed for impairment annually.
Goodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-8": { "value": "Following the acquisition of Crayon at the beginning of July, operating segments have been reassessed. Given Crayon\u2019s significant presence in the Nordics and the CEE, the rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The change in the breakdown of the financial information reflects an increased management focus, the level of decision-making and the relative importance of the profits and assets of the new operating segments. In addition, the Middle East subregion encompassing Dubai and Quatar was moved from APAC to WEMEA. Comparative information has been adjusted accordingly, see also\u00a0Note 28 Segment reporting.
The operating segments constitute the lowest level at which goodwill is monitored for internal management purposes. As a result, the group reallocated the goodwill previously allocated to rEMEA to Nordics, WEMEA and CEE. The split was performed on the basis of the relative value of the recoverable amount. The change for Middle East had no impact on goodwill allocation.
For management purposes, SoftwareOne is organized by geographical areas, with seven operating segments:
DACH (Germany, Austria and Switzerland)WEMEA (Western Europe, including Middle East and Africa)Nordics (Northern Europe)CEE (Central and Eastern Europe)NORAM (USA, Canada)LATAM (Latin America)APAC (Asia Pacific)Since the Crayon acquisition, the Co-CEO\u2019s have been the Chief Operating Decision Makers (CODM). They assess each of the operating segments separately for the purpose of evaluating performance and allocating resources. Revenue and adjusted EBITDA are the key performance indicators used by SoftwareOne for internal management and monitoring purposes. The group allocates revenue and expenses to regions based on the end customer\u2019s headquarter domicile since the region is responsible for the global client relationship. There are no intersegment revenues. Different average exchange rates are used in management reporting than for group consolidation purposes.
The segment totals are reconciled to the figures reported in the consolidated income statement (\u201cTotal\u201d column) as follows:
\"Removal Crayon H1\"\u00a0eliminates the income statement of Crayon group for the first half of 2025. The segment reporting includes Crayon for the full 12 months, comparable with pro-forma presentation, rather than a six-month period.\"Group\" includes the group cost centers and shared services costs.\"FX & Consolidation\" eliminates the effect of using differing average foreign exchange rates in the segment reporting and consolidation effects.\u201cOther\u201d includes other reconciling items that are not allocated to the segments and group in internal reporting. They consist of costs affecting comparability in operating expenses such as Crayon transaction and integration costs, other integration costs as well as M&A and earn-out expenses, restructuring expenses for the SoftwareOne's cost reduction programs, other non-recurring items which mainly relate to expenses for the strategic review and income from the release of provisions and an adjustment for the upfront recognition of multi-year licensing contracts in which the end customer has the right to change the software reseller during the contract term. Additionally, the column \u201cOther\u201d includes an adjustment for differences in accounting policies of IFRS 16 that are not reflected in the segments, an allocation of internal delivery costs to transition from the internal to the external reporting structure and, to a limited extent, minor reconciliation items.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-9": { "value": "Following the acquisition of Crayon at the beginning of July, operating segments have been reassessed. Given Crayon\u2019s significant presence in the Nordics and the CEE, the rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The change in the breakdown of the financial information reflects an increased management focus, the level of decision-making and the relative importance of the profits and assets of the new operating segments. In addition, the Middle East subregion encompassing Dubai and Quatar was moved from APAC to WEMEA. Comparative information has been adjusted accordingly, see also\u00a0Note 28 Segment reporting.
The operating segments constitute the lowest level at which goodwill is monitored for internal management purposes. As a result, the group reallocated the goodwill previously allocated to rEMEA to Nordics, WEMEA and CEE. The split was performed on the basis of the relative value of the recoverable amount. The change for Middle East had no impact on goodwill allocation.
The following table shows the composition of goodwill by CGU after the reallocation as of July 2, 2025 (prior to the recognition of the goodwill from the Crayon acquisition):
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n REMEA\n \n | \n \n \n WEMEA\n \n | \n \n \n Nordics\n \n | \n \n \n CEE\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Prior to reallocation\n \n | \n \n \n 137.0\n \n | \n \n \n 256.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 26.2\n \n | \n \n \n 33.4\n \n | \n \n \n 23.2\n \n | \n \n \n 476.1\n \n | \n
| \n \n Reallocation\n \n | \n \n \n -\n \n | \n \n \n \u2013256.3\n \n | \n \n \n 110.8\n \n | \n \n \n 126.0\n \n | \n \n \n 19.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n After reallocation\n \n | \n \n \n 137.0\n \n | \n \n \n -\n \n | \n \n \n 110.8\n \n | \n \n \n 126.0\n \n | \n \n \n 19.5\n \n | \n \n \n 26.2\n \n | \n \n \n 33.4\n \n | \n \n \n 23.2\n \n | \n \n \n 476.1\n \n | \n
The group has made the following presentational changes in 2025, and comparative information has been adjusted accordingly:
Total revenue is only disaggregated in note 6 Revenue and no longer on the face of the income statement. The group introduced a new business line \u201cSoftware & Cloud Channel\u201d which represents the sale of software and cloud licenses to or through partners that have relationships with end customers.Goodwill is presented separately in the balance sheet.The amounts in the report are stated in millions of Swiss francs instead of thousands.", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-10": { "value": "The following table shows the composition of goodwill by CGU after the reallocation as of July 2, 2025 (prior to the recognition of the goodwill from the Crayon acquisition):
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n REMEA\n \n | \n \n \n WEMEA\n \n | \n \n \n Nordics\n \n | \n \n \n CEE\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Prior to reallocation\n \n | \n \n \n 137.0\n \n | \n \n \n 256.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 26.2\n \n | \n \n \n 33.4\n \n | \n \n \n 23.2\n \n | \n \n \n 476.1\n \n | \n
| \n \n Reallocation\n \n | \n \n \n -\n \n | \n \n \n \u2013256.3\n \n | \n \n \n 110.8\n \n | \n \n \n 126.0\n \n | \n \n \n 19.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n After reallocation\n \n | \n \n \n 137.0\n \n | \n \n \n -\n \n | \n \n \n 110.8\n \n | \n \n \n 126.0\n \n | \n \n \n 19.5\n \n | \n \n \n 26.2\n \n | \n \n \n 33.4\n \n | \n \n \n 23.2\n \n | \n \n \n 476.1\n \n | \n
Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
On July 2, 2025, SoftwareOne completed the transaction to acquire Crayon Group Holding ASA, Norway (Crayon), combining two leading global providers of software and cloud solutions. Upon settlement of the offer, SoftwareOne acquired 75,941,335 Crayon shares, ending up in approximately 91.77% of the share capital and voting rights in Crayon. A compulsory acquisition (squeeze-out) of all remaining Crayon shares pursuant to the Norwegian Public Limited Liability Companies Act and the Norwegian Securities Trading Act was initiated. As control was gained immediately, the squeeze out is also part of the business combination accounting.
As a result, SoftwareOne assumed 100% ownership of Crayon. Settlement took place on July 8, 2025. The secondary listing and trading of the SoftwareOne shares on Euronext Oslo B\u00f8rs commenced on July 3, 2025. The shares of Crayon Group Holding ASA were delisted from trading on Euronext Oslo B\u00f8rs on July 11, 2025.
Prior to the acquisition, the creation of a capital band was approved at the Extraordinary General Meeting of SoftwareOne Holding AG on April 11, 2025, authorizing the Board of Directors to issue up to 72,205,459 fully paid-up registered shares.
The provisional fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Assets\n \n | \n \n \n As of July 2, 2025\n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n 217.3\n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 1,115.4\n \n | \n
| \n \n Income tax receivables\n \n | \n \n \n 7.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 55.0\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 73.1\n \n | \n
| \n \n Current assets\n \n | \n \n \n 1,468.4\n \n | \n
| \n \n Tangible assets\n \n | \n \n \n 9.0\n \n | \n
| \n \n Intangible assets\n \n | \n \n \n 325.5\n \n | \n
| \n \n Right-of-use assets\n \n | \n \n \n 39.4\n \n | \n
| \n \n Investments in associated companies\n \n | \n \n \n 3.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 13.3\n \n | \n
| \n \n Deferred tax assets\n \n | \n \n \n 17.5\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 408.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 1,876.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Liabilities\n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 1,284.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 140.7\n \n | \n
| \n \n Accrued expenses and contract liabilities\n \n | \n \n \n 63.0\n \n | \n
| \n \n Income tax liabilities\n \n | \n \n \n 5.0\n \n | \n
| \n \n Provisions\n \n | \n \n \n 5.3\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 126.2\n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 1,625.1\n \n | \n
| \n \n Other payables\n \n | \n \n \n 2.1\n \n | \n
| \n \n Provisions\n \n | \n \n \n 27.2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 30.3\n \n | \n
| \n \n Deferred tax liabilities\n \n | \n \n \n 79.7\n \n | \n
| \n \n Defined benefit liabilities\n \n | \n \n \n 1.2\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 140.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 111.1\n \n | \n
With respect to acquired receivables, the fair value of trade and other receivables at the acquisition date amounted to CHF 1,183.7 million. The gross contractual amount of receivables acquired was CHF 1,216.8 million. The best estimate at the acquisition date of the contractual cash flows not expected to be collected amounted to CHF 33.1 million.
Provisions include contingent liabilities for a potential risk associated with VAT deductions with an estimated amount of CHF 16.0 million, with insurance covering 80%.
Details of the purchase considerations recognized at acquisition and the derivation of goodwill are as follows:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Share consideration\n \n | \n \n \n 472.0\n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n 85.4\n \n | \n
| \n \n Fair value of Crayon shares already owned by SoftwareOne\n \n | \n \n \n 70.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 1,047.7\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n \u2013111.1\n \n | \n
| \n \n Non-controlling interest in Crayon subsidiaries\n \n | \n \n \n 9.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 946.1\n \n | \n
The purchase price allocation for the business combination is still provisional as of December 31, 2025, as work on certain items including contingent liabilities and tax risks is ongoing.
The share consideration for the 62,521,493 newly issued SoftwareOne shares amounts to CHF 472.0 million, based on the closing share price of CHF 7.55 on the SIX Swiss Exchange as of July 2, 2025. Additionally, a cash payment of CHF 419.4 million (NOK 5,240 million) was made for all 75,941,335 outstanding Crayon shares. The price payable per share in the compulsory acquisition corresponds to the offer price under the voluntary offer resulting in a cash payment of CHF 85.4 million (NOK 1,056 million).
In December 2024, SoftwareOne entered into a foreign currency call option to hedge foreign currency risks relating to the Crayon acquisition. The option was designated as a cash flow hedge.\u00a0In June 2025, SoftwareOne restructured the hedging instrument into a plain vanilla currency swap. At the date of completion, related amounts accumulated in OCI amounting to a loss of CHF 9.5 million were transferred from the hedging reserve as a basis adjustment and are included in the cash considerations for the voluntary offer and for the squeeze-out.
SoftwareOne held 6,259,613 shares prior to the completion of the transaction, equivalent to approximately 6.99% of the outstanding shares in Crayon resulting in a fair value of CHF 70.9 million.
Non-controlling interest is measured at its proportionate share of the fair values of the identifiable net assets acquired, amounting to CHF 9.5\u00a0million. Accordingly, the goodwill arising from the business combination represents only the portion attributable to the controlling interest held by SoftwareOne.
The goodwill recognized primarily represents the assembled workforce and expected synergies by combining the activities of Crayon with those of the group. The goodwill is not deductible for income tax purposes.
Acquisition-related costs such as due diligence, legal and advisory costs totaling CHF \u201320.8 million, are directly attributable to this acquisition. CHF \u20138.6 million has been recognized as other operating expenses in 2025 and CHF \u201312.2 million in 2024.
From the date of acquisition, Crayon has contributed CHF 273.5\u00a0million in revenue and CHF \u20136.9 million to earnings before income tax.
If the acquisition had taken place at the beginning of the year, revenue of the combined group would have been CHF 1,513.9\u00a0million and earnings before income tax would have been CHF 37.8\u00a0million.
The transaction was financed by bridge facilities amounting to CHF 700.0 million to fund the total cash consideration including the compulsory acquisition (bridge facility A of CHF 500.0 million) and to refinance Crayon\u2019s existing debt (bridge facility B of CHF 200.0 million). Crayon\u2019s\u00a0bond loan was repaid at the repayable amount including a make-whole payment in accordance with the contract. In July 2025, the group entered into a new financing agreement including a CHF 660.0 million multi-currency revolving credit facility, and a CHF 600.0 million term loan facility. For further details, refer to Note 20 Financial liabilities.
| \n \n in CHF million\n \n | \n \n \n Crayon\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u2013419.4\n \n | \n \n \n -\n \n | \n \n \n \u2013419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n \u201385.4\n \n | \n \n \n -\n \n | \n \n \n \u201385.4\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 217.3\n \n | \n \n \n -\n \n | \n \n \n 217.3\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u2013287.5\n \n | \n \n \n -\n \n | \n \n \n \u2013287.5\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20132.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u2013287.5\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u2013290.2\n \n | \n
\n 1)Paid contingent consideration liability for Medalsoft and Predica, refer to fair value estimation in Note 4.3.\n
\nIn 2025, the group finalized the purchase accounting for the acquisition of Medalsoft International Co. Ltd., China, made in 2024. There were no changes in the final fair values of acquired assets and liabilities compared to the provisional amounts disclosed in the 2024 Consolidated Financial Statements.
The fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current assets\n \n | \n \n \n 7.0\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 7.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 2.5\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 0.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
Details of the purchase considerations recognized at acquisition and the derivation of goodwill were as follows:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 15.0\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 6.3\n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 21.3\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 17.4\n \n | \n
The cash flow on acquisitions was:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u201315.0\n \n | \n \n \n -\n \n | \n \n \n \u201315.0\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u201314.1\n \n | \n \n \n -\n \n | \n \n \n \u201314.1\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u20135.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u201314.1\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u201319.4\n \n | \n
\n 1)Including a subsequent purchase price adjustment of CHF 0.8 million for Novis, a deferred payment of CHF \u20131.3 million for Novis and payments of contingent consideration liabilities for Predica and Intelligence Partner in the amount of CHF \u20133.2 million.\n
\nIn 2025, the group purchased non-controlling interest held by minority shareholders in Crayon subsidiaries. As these transactions occurred after control had already been obtained, they were accounted for as equity transactions. The difference between the consideration paid and the carrying amount of the acquired non-controlling interest of CHF \u20130.5 million was recognized directly in equity.
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 485.5\n \n | \n \n \n 463.0\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 946.1\n \n | \n \n \n 18.2\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u201320.5\n \n | \n \n \n 4.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 1,411.1\n \n | \n \n \n 485.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Impairment\n \n | \n \n \n \u20138.0\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n \u20138.0\n \n | \n \n \n 0.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31\n \n | \n \n \n 1,403.1\n \n | \n \n \n 485.5\n \n | \n
The carrying amount of goodwill and the SoftwareOne brand are allocated to CGU\u2019s as illustrated below:
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n WEMEA\n \n | \n \n \n Nordics\n \n | \n \n \n CEE\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 202.6\n \n | \n \n \n 199.8\n \n | \n \n \n 577.0\n \n | \n \n \n 55.5\n \n | \n \n \n 69.9\n \n | \n \n \n 26.7\n \n | \n \n \n 271.5\n \n | \n \n \n 1,403.0\n \n | \n
| \n \n SoftwareOne brand\n \n | \n \n \n 31.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 31.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 233.9\n \n | \n \n \n 199.8\n \n | \n \n \n 577.0\n \n | \n \n \n 55.5\n \n | \n \n \n 69.9\n \n | \n \n \n 26.7\n \n | \n \n \n 271.5\n \n | \n \n \n 1,434.3\n \n | \n
Following the Crayon acquisition, the former rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The associated goodwill was reallocated, refer to\u00a0Note 2 Changes to segment reporting and goodwill allocation.
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n REMEA\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 137.7\n \n | \n \n \n 258.6\n \n | \n \n \n 29.0\n \n | \n \n \n 34.5\n \n | \n \n \n 25.7\n \n | \n \n \n 485.5\n \n | \n
| \n \n SoftwareOne brand\n \n | \n \n \n 31.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 31.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 169.0\n \n | \n \n \n 258.6\n \n | \n \n \n 29.0\n \n | \n \n \n 34.5\n \n | \n \n \n 25.7\n \n | \n \n \n 516.8\n \n | \n
As the SoftwareOne brand has an indefinite useful life and does not generate largely independent cash inflows, it is allocated to the group\u2019s CGUs for goodwill impairment testing as part of corporate assets.
Goodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
Cash flow projections cover a detailed planning period of five years, during which operating profit is expected to grow in line with CGU\u2011specific market and business assumptions. Cash flows beyond this period are extrapolated using an annual terminal growth rate, based on weighted long-term inflation rate for the countries included in the CGU. Related assumptions reflect macroeconomic trends and historical information adjusted for current developments. Cash flows exclude expected benefits from future restructuring or significant capital enhancements.
The discount rates and annual growth rate per CGU are as follows:
| \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||
| \n \n \n \n | \n \n \n Pre-tax\ndiscount rate\n \n | \n \n \n Post-tax\ndiscount rate\n \n | \n \n \n Annual\ngrowth rate\n \n | \n \n \n Pre-tax\ndiscount rate\n \n | \n \n \n Post-tax\ndiscount rate\n \n | \n \n \n Annual\ngrowth rate\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n DACH\n \n | \n \n \n 8.9%\n \n | \n \n \n 7.0%\n \n | \n \n \n 1.8%\n \n | \n \n \n 8.6%\n \n | \n \n \n 6.7%\n \n | \n \n \n 1.7%\n \n | \n
| \n \n WEMEA\n \n | \n \n \n 10.8%\n \n | \n \n \n 8.7%\n \n | \n \n \n 2.0%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n Nordics\n \n | \n \n \n 10.7%\n \n | \n \n \n 8.8%\n \n | \n \n \n 2.1%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n CEE\n \n | \n \n \n 15.5%\n \n | \n \n \n 13.3%\n \n | \n \n \n 3.6%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n REMEA\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n 11.2%\n \n | \n \n \n 9.2%\n \n | \n \n \n 2.2%\n \n | \n
| \n \n LATAM\n \n | \n \n \n 18.1%\n \n | \n \n \n 13.4%\n \n | \n \n \n 2.8%\n \n | \n \n \n 16.8%\n \n | \n \n \n 14.9% / 11.7%1)\n \n | \n \n \n 3.0%\n \n | \n
| \n \n APAC\n \n | \n \n \n 10.9%\n \n | \n \n \n 8.9%\n \n | \n \n \n 2.6%\n \n | \n \n \n 10.7%\n \n | \n \n \n 8.7%\n \n | \n \n \n 2.4%\n \n | \n
| \n \n NORAM\n \n | \n \n \n 11.4%\n \n | \n \n \n 9.1%\n \n | \n \n \n 2.2%\n \n | \n \n \n 11.2%\n \n | \n \n \n 9.0%\n \n | \n \n \n 2.1%\n \n | \n
\n 1)2024: Post-tax discount rate 14.9% for the detailed planning period and 11.7% for the terminal value.\n
\nThe pre\u2011tax discount rate is derived using a country\u2011specific risk\u2011free rate, adjusted for the market equity risk premium and the CGU\u2019s borrowing cost. The calculation further incorporates peer\u2011group benchmark data to determine appropriate beta coefficients and capital structure assumptions, ensuring that the resulting WACC reflects both the systematic risk profile and the financial leverage of comparable market participants.
In jurisdictions with less developed capital markets and limited availability of reliable observable inputs, primarily in LATAM, the Group applies an indirect build\u2011up approach to determine the discount rate. Under this methodology, the risk\u2011free rate is proxied using the three\u2011month average yield on a U.S. dollar\u2011denominated base rate, which is then adjusted for country\u2011specific risk factors, including sovereign risk premia, inflation differentials and other market\u2011specific risk adjustments. The approach is designed to derive an implied equity risk premium and, consequently, a WACC that appropriately reflects the risk profile of the underlying cash\u2011generating unit in environments where local capital\u2011market data is either not observable or is inconsistent or subject to significant volatility.
In 2025, financial performance in the LATAM CGU was significantly below expectations. Management assessed this as an impairment indicator and therefore performed an updated impairment test as of December 31, 2025.\u00a0The recoverable amount of the LATAM CGU, determined by using value in use calculations, was below the carrying amount. As a result, an impairment of CHF\u202f8.0 million was recognized and allocated entirely to goodwill.
Following recognition of the impairment, the recoverable amount of the LATAM CGU of CHF 63.7\u00a0million equals its carrying amount and is now at breakeven. Any reasonably possible adverse change in key assumptions, including the discount rate, long\u2011term growth rate or EBITDA margin, would result in an additional impairment.
For all other CGUs, management assessed at year\u2011end whether any indicators of impairment existed. No such indicators were identified. The CGUs showed substantial headroom in the annual impairment test performed as of September 30, 2025, and there have been no significant adverse developments since then that would suggest a deterioration in recoverable amounts. Based on the absence of impairment indicators, no updated impairment calculations were required. Management considers that reasonably possible changes in key assumptions would not reduce the recoverable amount of these CGUs to below their carrying amounts.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-11": { "value": "Given its dual listing on the Euronext Oslo B\u00f8rs, SoftwareOne reports on climate risks and opportunities and has implemented the requirements of the EU\u2019s Corporate Sustainability Reporting Directive/European Sustainability Reporting Standards. The potential climate change-related risks and opportunities to which the group is exposed, as identified by management, are disclosed in the group\u2019s Sustainability Statement. Management has assessed the potential financial impacts relating to the identified risks and exercised judgement in concluding that there are no material financial impacts of the group\u2019s climate-related risks and opportunities on the financial statements. These judgements will be kept under review by management as the future impacts of climate change depend on environmental, regulatory and other factors outside of the group\u2019s control which are not all currently known.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEnvironmentRelatedExpenseExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90044-12": { "value": "The following exchange rates were used:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||
| \n \n Currency (CHF 1 =)\n \n | \n \n \n Code\n \n | \n \n \n Average rate\n \n | \n \n \n Closing rate\n \n | \n \n \n Average rate\n \n | \n \n \n Closing rate\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Euro\n \n | \n \n \n EUR\n \n | \n \n \n 1.07\n \n | \n \n \n 1.08\n \n | \n \n \n 1.05\n \n | \n \n \n 1.06\n \n | \n
| \n \n US dollar\n \n | \n \n \n USD\n \n | \n \n \n 1.21\n \n | \n \n \n 1.26\n \n | \n \n \n 1.14\n \n | \n \n \n 1.10\n \n | \n
The following exchange rates were used:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||
| \n \n Currency (CHF 1 =)\n \n | \n \n \n Code\n \n | \n \n \n Average rate\n \n | \n \n \n Closing rate\n \n | \n \n \n Average rate\n \n | \n \n \n Closing rate\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Euro\n \n | \n \n \n EUR\n \n | \n \n \n 1.07\n \n | \n \n \n 1.08\n \n | \n \n \n 1.05\n \n | \n \n \n 1.06\n \n | \n
| \n \n US dollar\n \n | \n \n \n USD\n \n | \n \n \n 1.21\n \n | \n \n \n 1.26\n \n | \n \n \n 1.14\n \n | \n \n \n 1.10\n \n | \n
Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
On July 2, 2025, SoftwareOne completed the transaction to acquire Crayon Group Holding ASA, Norway (Crayon), combining two leading global providers of software and cloud solutions. Upon settlement of the offer, SoftwareOne acquired 75,941,335 Crayon shares, ending up in approximately 91.77% of the share capital and voting rights in Crayon. A compulsory acquisition (squeeze-out) of all remaining Crayon shares pursuant to the Norwegian Public Limited Liability Companies Act and the Norwegian Securities Trading Act was initiated. As control was gained immediately, the squeeze out is also part of the business combination accounting.
As a result, SoftwareOne assumed 100% ownership of Crayon. Settlement took place on July 8, 2025. The secondary listing and trading of the SoftwareOne shares on Euronext Oslo B\u00f8rs commenced on July 3, 2025. The shares of Crayon Group Holding ASA were delisted from trading on Euronext Oslo B\u00f8rs on July 11, 2025.
Prior to the acquisition, the creation of a capital band was approved at the Extraordinary General Meeting of SoftwareOne Holding AG on April 11, 2025, authorizing the Board of Directors to issue up to 72,205,459 fully paid-up registered shares.
The provisional fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Assets\n \n | \n \n \n As of July 2, 2025\n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n 217.3\n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 1,115.4\n \n | \n
| \n \n Income tax receivables\n \n | \n \n \n 7.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 55.0\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 73.1\n \n | \n
| \n \n Current assets\n \n | \n \n \n 1,468.4\n \n | \n
| \n \n Tangible assets\n \n | \n \n \n 9.0\n \n | \n
| \n \n Intangible assets\n \n | \n \n \n 325.5\n \n | \n
| \n \n Right-of-use assets\n \n | \n \n \n 39.4\n \n | \n
| \n \n Investments in associated companies\n \n | \n \n \n 3.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 13.3\n \n | \n
| \n \n Deferred tax assets\n \n | \n \n \n 17.5\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 408.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 1,876.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Liabilities\n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 1,284.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 140.7\n \n | \n
| \n \n Accrued expenses and contract liabilities\n \n | \n \n \n 63.0\n \n | \n
| \n \n Income tax liabilities\n \n | \n \n \n 5.0\n \n | \n
| \n \n Provisions\n \n | \n \n \n 5.3\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 126.2\n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 1,625.1\n \n | \n
| \n \n Other payables\n \n | \n \n \n 2.1\n \n | \n
| \n \n Provisions\n \n | \n \n \n 27.2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 30.3\n \n | \n
| \n \n Deferred tax liabilities\n \n | \n \n \n 79.7\n \n | \n
| \n \n Defined benefit liabilities\n \n | \n \n \n 1.2\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 140.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 111.1\n \n | \n
With respect to acquired receivables, the fair value of trade and other receivables at the acquisition date amounted to CHF 1,183.7 million. The gross contractual amount of receivables acquired was CHF 1,216.8 million. The best estimate at the acquisition date of the contractual cash flows not expected to be collected amounted to CHF 33.1 million.
Provisions include contingent liabilities for a potential risk associated with VAT deductions with an estimated amount of CHF 16.0 million, with insurance covering 80%.
Details of the purchase considerations recognized at acquisition and the derivation of goodwill are as follows:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Share consideration\n \n | \n \n \n 472.0\n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n 85.4\n \n | \n
| \n \n Fair value of Crayon shares already owned by SoftwareOne\n \n | \n \n \n 70.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 1,047.7\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n \u2013111.1\n \n | \n
| \n \n Non-controlling interest in Crayon subsidiaries\n \n | \n \n \n 9.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 946.1\n \n | \n
The purchase price allocation for the business combination is still provisional as of December 31, 2025, as work on certain items including contingent liabilities and tax risks is ongoing.
The share consideration for the 62,521,493 newly issued SoftwareOne shares amounts to CHF 472.0 million, based on the closing share price of CHF 7.55 on the SIX Swiss Exchange as of July 2, 2025. Additionally, a cash payment of CHF 419.4 million (NOK 5,240 million) was made for all 75,941,335 outstanding Crayon shares. The price payable per share in the compulsory acquisition corresponds to the offer price under the voluntary offer resulting in a cash payment of CHF 85.4 million (NOK 1,056 million).
In December 2024, SoftwareOne entered into a foreign currency call option to hedge foreign currency risks relating to the Crayon acquisition. The option was designated as a cash flow hedge.\u00a0In June 2025, SoftwareOne restructured the hedging instrument into a plain vanilla currency swap. At the date of completion, related amounts accumulated in OCI amounting to a loss of CHF 9.5 million were transferred from the hedging reserve as a basis adjustment and are included in the cash considerations for the voluntary offer and for the squeeze-out.
SoftwareOne held 6,259,613 shares prior to the completion of the transaction, equivalent to approximately 6.99% of the outstanding shares in Crayon resulting in a fair value of CHF 70.9 million.
Non-controlling interest is measured at its proportionate share of the fair values of the identifiable net assets acquired, amounting to CHF 9.5\u00a0million. Accordingly, the goodwill arising from the business combination represents only the portion attributable to the controlling interest held by SoftwareOne.
The goodwill recognized primarily represents the assembled workforce and expected synergies by combining the activities of Crayon with those of the group. The goodwill is not deductible for income tax purposes.
Acquisition-related costs such as due diligence, legal and advisory costs totaling CHF \u201320.8 million, are directly attributable to this acquisition. CHF \u20138.6 million has been recognized as other operating expenses in 2025 and CHF \u201312.2 million in 2024.
From the date of acquisition, Crayon has contributed CHF 273.5\u00a0million in revenue and CHF \u20136.9 million to earnings before income tax.
If the acquisition had taken place at the beginning of the year, revenue of the combined group would have been CHF 1,513.9\u00a0million and earnings before income tax would have been CHF 37.8\u00a0million.
The transaction was financed by bridge facilities amounting to CHF 700.0 million to fund the total cash consideration including the compulsory acquisition (bridge facility A of CHF 500.0 million) and to refinance Crayon\u2019s existing debt (bridge facility B of CHF 200.0 million). Crayon\u2019s\u00a0bond loan was repaid at the repayable amount including a make-whole payment in accordance with the contract. In July 2025, the group entered into a new financing agreement including a CHF 660.0 million multi-currency revolving credit facility, and a CHF 600.0 million term loan facility. For further details, refer to Note 20 Financial liabilities.
| \n \n in CHF million\n \n | \n \n \n Crayon\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u2013419.4\n \n | \n \n \n -\n \n | \n \n \n \u2013419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n \u201385.4\n \n | \n \n \n -\n \n | \n \n \n \u201385.4\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 217.3\n \n | \n \n \n -\n \n | \n \n \n 217.3\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u2013287.5\n \n | \n \n \n -\n \n | \n \n \n \u2013287.5\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20132.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u2013287.5\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u2013290.2\n \n | \n
\n 1)Paid contingent consideration liability for Medalsoft and Predica, refer to fair value estimation in Note 4.3.\n
\nIn 2025, the group finalized the purchase accounting for the acquisition of Medalsoft International Co. Ltd., China, made in 2024. There were no changes in the final fair values of acquired assets and liabilities compared to the provisional amounts disclosed in the 2024 Consolidated Financial Statements.
The fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current assets\n \n | \n \n \n 7.0\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 7.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 2.5\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 0.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
Details of the purchase considerations recognized at acquisition and the derivation of goodwill were as follows:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 15.0\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 6.3\n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 21.3\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 17.4\n \n | \n
The cash flow on acquisitions was:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u201315.0\n \n | \n \n \n -\n \n | \n \n \n \u201315.0\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u201314.1\n \n | \n \n \n -\n \n | \n \n \n \u201314.1\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u20135.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u201314.1\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u201319.4\n \n | \n
\n 1)Including a subsequent purchase price adjustment of CHF 0.8 million for Novis, a deferred payment of CHF \u20131.3 million for Novis and payments of contingent consideration liabilities for Predica and Intelligence Partner in the amount of CHF \u20133.2 million.\n
\nIn 2025, the group purchased non-controlling interest held by minority shareholders in Crayon subsidiaries. As these transactions occurred after control had already been obtained, they were accounted for as equity transactions. The difference between the consideration paid and the carrying amount of the acquired non-controlling interest of CHF \u20130.5 million was recognized directly in equity.
| \n \n \n \n | \n \n \n \n \n | \n \n \n Voting & capital rights\nin %\n \n | \n \n \n Voting & capital rights\nin %\n \n | \n
| \n \n Company\n \n | \n \n \n Registered country\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Germany, Austria and Switzerland (DACH)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareOne Holding AG\n \n | \n \n \n Stans, CH\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n SoftwareONE AG\n \n | \n \n \n Stans, CH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Beteiligungs GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n COMPAREX Beteiligungsverwaltung GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE \u00d6sterreich GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Deutschland GmbH\n \n | \n \n \n Leipzig, DE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Schweiz AG\n \n | \n \n \n Altdorf, CH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Austria GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Deutschland GmbH\n \n | \n \n \n Munich, DE\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint Group (Germany) GmbH\n \n | \n \n \n Hamburg, DE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Western Europe, Middle East and Africa (WEMEA)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n |
| \n \n SoftwareONE UK Ltd\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Comparex UK Limited 1)\n \n | \n \n \n Birmingham, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Italia Srl\n \n | \n \n \n Assago, IT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE France SAS\n \n | \n \n \n Saint-Quen, FR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE LATAM Holding S.L.\n \n | \n \n \n Madrid, ES\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Software Pipeline Ireland Ltd\n \n | \n \n \n Cork, IE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Luxembourg SARL\n \n | \n \n \n Luxembourg, LU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE BE B.V.\n \n | \n \n \n Brussels, BE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Systematika Distribution S.R.L.\n \n | \n \n \n Lainate, IT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Netherlands B.V.\n \n | \n \n \n Amsterdam, NL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Spain S.A.\n \n | \n \n \n Madrid, ES\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n HeleCloud Limited\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Dino Newco Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Centiq Group Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Taurus Informatics Holdings Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Centiq Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Mauritius 2)\n \n | \n \n \n Port Louis, MU\n \n | \n \n \n 49\n \n | \n \n \n 49\n \n | \n
| \n \n SoftwareONE Experts South Africa (Pty) Ltd 2)\n \n | \n \n \n Johannesburg, ZA\n \n | \n \n \n 49\n \n | \n \n \n 49\n \n | \n
| \n \n SoftwareONE AG Trading LLC 2)\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 49\n \n | \n \n \n 49\n \n | \n
| \n \n Predica FZ LLC\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Predica FZ LLC \u2013 Mainland Dubai Branch\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Softwareone Middle East LLC\n \n | \n \n \n Doha, QA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Ltd\n \n | \n \n \n London, UK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint (UK) Limited\n \n | \n \n \n London, UK\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint (Ireland) Limited\n \n | \n \n \n Lismore, IE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon France SAS\n \n | \n \n \n Paris, FR\n \n | \n \n \n 85\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Spain SL\n \n | \n \n \n Madrid, ES\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Licensing Unipessoal LDA\n \n | \n \n \n Lisbon, PT\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon BV\n \n | \n \n \n Amsterdam, NL\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Africa SA\n \n | \n \n \n Johannesburg, ZA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Mauritius Ltd\n \n | \n \n \n Port Louis, MU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon DMCC\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Middle East Information Technology Consultants LLC\n \n | \n \n \n Abu Dhabi, AE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Consulting and Trading\n \n | \n \n \n Doha, QA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Arab Company for Information \nSystems Technology LLC 3)\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 39\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Regional Headquarters\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Wadi Al Omar Co\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Northern Europe (Nordics)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE AB Sweden\n \n | \n \n \n Stockholm, SE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Norway AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Finland Oy\n \n | \n \n \n Espoo, FI\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Denmark Aps\n \n | \n \n \n Birker\u00f8d, DK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Group Holding ASA\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Group AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Consulting AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n TCP-GCP AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Consulting A/S\n \n | \n \n \n Copenhagen, DK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon A/S\n \n | \n \n \n Copenhagen, DK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon AB\n \n | \n \n \n Stockholm, SE\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon OY\n \n | \n \n \n Helsinki, FI\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Iceland ehf.\n \n | \n \n \n Reykjavik, IS\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Ice Distributions hf\n \n | \n \n \n Reykjavik, IS\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Sensa ehf\n \n | \n \n \n Reykjav\u00edk, IS\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Central and Eastern Europe (CEE)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Czech Republic s.r.o.\n \n | \n \n \n Prague, CZ\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Slovakia s.r.o.\n \n | \n \n \n Bratislava, SK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Hungary Kft.\n \n | \n \n \n Budapest, HU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Licensing Experts SRL\n \n | \n \n \n Bucharest, RO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE d.o.o. 4)\n \n | \n \n \n Belgrade, RS\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Polska sp. z.o.o.\n \n | \n \n \n Warsaw, PL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE, informacijski sistemi, d.o.o.\n \n | \n \n \n Ljubljana, SL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Ukraine LLC\n \n | \n \n \n Kyiv, UA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Kazakhstan LLP\n \n | \n \n \n Almaty, KZ\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Bulgaria EOOD\n \n | \n \n \n Sofia, BG\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Turkey Bili\u015fim \nTeknolojileri Ticaret A. \u015e.\n \n | \n \n \n Istanbul, TR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Predica sp. z.o.o.\n \n | \n \n \n Warsaw, PL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon doo Beograd\n \n | \n \n \n Belgrade, RS\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Bulgaria OOD\n \n | \n \n \n Sofia, BG\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Krejon Makedonija DOO\n \n | \n \n \n Skopje, NM\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n SIA \u201cCrayon Latvia\u201d\n \n | \n \n \n Riga, LV\n \n | \n \n \n 98\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Romania S.R.L.\n \n | \n \n \n Bucharest, RO\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Poland sp.\u00a0z o.o.\n \n | \n \n \n Warszawa, PL\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Czech Republic and Slovakia s.r.o.\n \n | \n \n \n Prague, CZ\n \n | \n \n \n 90\n \n | \n \n \n -\n \n | \n
| \n \n LLC \u00abCrayon Ukraine\u00bb\n \n | \n \n \n Kyiv, UA\n \n | \n \n \n 97\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Magyarorsz\u00e1g Korl\u00e1tolt Felel\u0151ss\u00e9g\u0171 T\u00e1rsas\u00e1g\n \n | \n \n \n Budapest, HU\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n CRAYON, celovite IT re\u0161itve, d.o.o.\n \n | \n \n \n Ljubljana, SI\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Lithuania UAB\n \n | \n \n \n Vilnius, LT\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Estonia O\u00dc\n \n | \n \n \n Tallinn, EE\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Latin America (LATAM)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Com\u00e9rcio e Servicos \nde Informatica Ltda\n \n | \n \n \n S\u00e3o Paulo, BR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Chile SpA\n \n | \n \n \n Santiago, CL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Argentina S.R.L.\n \n | \n \n \n Buenos Aires, AR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Puerto Rico Inc.\n \n | \n \n \n San Juan, PR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Bolivia S.R.L.\n \n | \n \n \n La Paz, BO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Colombia S.A.S.\n \n | \n \n \n Bogota, CO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Ecuador Soluciones S.A.\n \n | \n \n \n Quito, EC\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE SW1 Dominican Republic SRL\n \n | \n \n \n Santo Domingo, DO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Softwarepipeline S. de R.L. de C.V.\n \n | \n \n \n Mexico City, MX\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SWON IT Services M\u00e9xico, S.A. de CV.\n \n | \n \n \n Mexico City, MX\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Yaima S.A.\n \n | \n \n \n Guatemala City, GT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Uruguay S.A.\n \n | \n \n \n Montevideo, UY\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Panam\u00e1 S.A.\n \n | \n \n \n Panama City, PA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Peru S.A.C.\n \n | \n \n \n Lima, PE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE El Salvador S.A. de C.V.\n \n | \n \n \n San Salvador, SV\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Honduras S.A.\n \n | \n \n \n Tegucigalpa, HN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Nicaragua S.A.\n \n | \n \n \n Managua, NI\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE West Indies S.A. 4)\n \n | \n \n \n Gros Islet, LC\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Jamaica Inc. Ltd.\n \n | \n \n \n Kingston, JM\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Trinidad and Tobago Ltd.\n \n | \n \n \n Port of Spain, TT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Costa Rica S.A.\n \n | \n \n \n San Jos\u00e9, CR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE IT Services S.A.\n \n | \n \n \n San Jos\u00e9, CR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n COMPAREX Brasil S.A.\n \n | \n \n \n S\u00e3o Paulo, BR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n IG Services S.A.S.\n \n | \n \n \n Medellin, CO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n IG Unified Communications S.A.S.\n \n | \n \n \n Medellin, CO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n IG Branch Mexico S.A. de C.V.\n \n | \n \n \n Mexico City, MX\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n BigBranch SA\n \n | \n \n \n Quito, EC\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Intergrupo Dominicana SRL\n \n | \n \n \n Santo Domingo, DO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE IT Services S.A.\n \n | \n \n \n Panama City, PA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n North America (NORAM)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Inc.\n \n | \n \n \n Milwaukee, Wisconsin, US\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Canada Inc.\n \n | \n \n \n Toronto, CA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Software Experts Holding LLC\n \n | \n \n \n Dallas, US\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts LLC\n \n | \n \n \n Dallas, US\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint Group Inc\n \n | \n \n \n San Francisco, US\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Software Wholesale International Inc\n \n | \n \n \n Denver, US\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint International Holding LLC\n \n | \n \n \n Dover, US\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint ULC\n \n | \n \n \n Montr\u00e9al, CA\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Asia Pacific (APAC)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Pte. Ltd.\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Experts Sdn Bhd Malaysia\n \n | \n \n \n Kuala Lumpur, MY\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE (Shanghai) Trading Co., Ltd.\n \n | \n \n \n Shanghai, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE India Private Ltd.\n \n | \n \n \n New Delhi, IN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Japan K.K.\n \n | \n \n \n Tokyo, JP\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Ltd. Liability CO. Saudi Arabia\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Australia Pty. Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Brave New World Consulting Pty. Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Philippines Corp.\n \n | \n \n \n Makati City, PH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Thailand Co. Ltd.\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Software Pipeline Co. Ltd.\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Hong Kong Ltd.\n \n | \n \n \n Hong Kong, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n PT SoftwareONE Indonesia\n \n | \n \n \n Jakarta Pusat, ID\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Taiwan Limited\n \n | \n \n \n Taipei, TW\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Vietnam Co. Ltd.\n \n | \n \n \n Hanoi, VN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Korea Co. Ltd.\n \n | \n \n \n Seoul, KR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE (New Zealand) Ltd.\n \n | \n \n \n Auckland, NZ\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n P.T. COMPAREX Indonesia 1)\n \n | \n \n \n Jakarta, ID\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n COMPAREX Thailand Limited 4)\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n GorillaStack Pty. Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n ITPC India Private Ltd. 4)\n \n | \n \n \n Pune, IN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Lanka (Private) Limited\n \n | \n \n \n Colombo, LK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Medalsoft International Co., Ltd.\n \n | \n \n \n Shanghai, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Medalsoft Technology (Wuxi) Co., Ltd. 1)\n \n | \n \n \n Wuxi, CN\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Medalsoft Interconnection (Wuxi) Co., Ltd.\n \n | \n \n \n Wuxi, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Pte Ltd\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n emt Distribution Pte Ltd\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Singapore Pte Ltd\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts India Pvt Ltd\n \n | \n \n \n Mumbai, IN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon IT Services Private Limited\n \n | \n \n \n Mumbai, IN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Kryptos Technologies Private Limited\n \n | \n \n \n Mumbai, IN\n \n | \n \n \n 50\n \n | \n \n \n -\n \n | \n
| \n \n Kryptos Networks Pvt Ltd\n \n | \n \n \n Chennai, IN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint India Private Limited\n \n | \n \n \n Delhi, IN\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Philippines Inc\n \n | \n \n \n Makati City, PH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Philippines, Inc\n \n | \n \n \n Manila, PH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Technology Philippines, Inc\n \n | \n \n \n Manila, PH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Malaysia Sdn Bhd\n \n | \n \n \n Kuala Lumpur, MY\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Malaysia Sdn. Bhd.\n \n | \n \n \n Kuala Lumpur, MY\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Lanka Pvt Ltd\n \n | \n \n \n Colombo, LK\n \n | \n \n \n 90\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Lanka (Pvt) Limited\n \n | \n \n \n Colombo, LK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon (Thailand) Co. Ltd\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon South Korea Ltd\n \n | \n \n \n Seoul, KR\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Japan K.K.\n \n | \n \n \n Tokyo, JP\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Hong Kong Limited\n \n | \n \n \n Hong Kong, CN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n PT Krayon Konsultan Indonesia\n \n | \n \n \n Jakarta, ID\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n PT Rhipe International Indonesia\n \n | \n \n \n Jakarta, ID\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Australia Holding Pty Ltd (Holdco)\n \n | \n \n \n Melbourne, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Australia Pty Ltd (Bidco)\n \n | \n \n \n Melbourne, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Australia PTY LTD\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Navicle Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Limited\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Australia Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Dynamics Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Cloud Solutions Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Solutions Australia Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n SmartEncrypt Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Parallo Pty Ltd ATF Parallo Unit Trust\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Data Confidence Solutions Pty Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Dynamic Business IT Solutions Pty Limited\n \n | \n \n \n Brisbane, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n emt Distribution Pty Ltd\n \n | \n \n \n Adelaid, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint Group, Inc\n \n | \n \n \n New South Wales, AU\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon New Zealand Ltd\n \n | \n \n \n Auckland, NZ\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Parallo Limited\n \n | \n \n \n Auckland, NZ\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
\n 1)Company was liquidated in 2025.\n
\n\n 2)SoftwareOne is full economic owner of this company and has full control.\n
\n\n 3)Crayon Group AS has control over the entities through 80% ownership in Crayon DMCC, which owns 49% of the share.\n
\n\n 4)Company in liquidation.\n
\n| \n \n Company\n \n | \n \n \n Registered country\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cloud Direct Limited\n \n | \n \n \n London, UK\n \n | \n \n \n 23\n \n | \n \n \n -\n \n | \n
Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
On July 2, 2025, SoftwareOne completed the transaction to acquire Crayon Group Holding ASA, Norway (Crayon), combining two leading global providers of software and cloud solutions. Upon settlement of the offer, SoftwareOne acquired 75,941,335 Crayon shares, ending up in approximately 91.77% of the share capital and voting rights in Crayon. A compulsory acquisition (squeeze-out) of all remaining Crayon shares pursuant to the Norwegian Public Limited Liability Companies Act and the Norwegian Securities Trading Act was initiated. As control was gained immediately, the squeeze out is also part of the business combination accounting.
As a result, SoftwareOne assumed 100% ownership of Crayon. Settlement took place on July 8, 2025. The secondary listing and trading of the SoftwareOne shares on Euronext Oslo B\u00f8rs commenced on July 3, 2025. The shares of Crayon Group Holding ASA were delisted from trading on Euronext Oslo B\u00f8rs on July 11, 2025.
Prior to the acquisition, the creation of a capital band was approved at the Extraordinary General Meeting of SoftwareOne Holding AG on April 11, 2025, authorizing the Board of Directors to issue up to 72,205,459 fully paid-up registered shares.
The provisional fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Assets\n \n | \n \n \n As of July 2, 2025\n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n 217.3\n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 1,115.4\n \n | \n
| \n \n Income tax receivables\n \n | \n \n \n 7.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 55.0\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 73.1\n \n | \n
| \n \n Current assets\n \n | \n \n \n 1,468.4\n \n | \n
| \n \n Tangible assets\n \n | \n \n \n 9.0\n \n | \n
| \n \n Intangible assets\n \n | \n \n \n 325.5\n \n | \n
| \n \n Right-of-use assets\n \n | \n \n \n 39.4\n \n | \n
| \n \n Investments in associated companies\n \n | \n \n \n 3.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 13.3\n \n | \n
| \n \n Deferred tax assets\n \n | \n \n \n 17.5\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 408.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 1,876.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Liabilities\n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 1,284.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 140.7\n \n | \n
| \n \n Accrued expenses and contract liabilities\n \n | \n \n \n 63.0\n \n | \n
| \n \n Income tax liabilities\n \n | \n \n \n 5.0\n \n | \n
| \n \n Provisions\n \n | \n \n \n 5.3\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 126.2\n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 1,625.1\n \n | \n
| \n \n Other payables\n \n | \n \n \n 2.1\n \n | \n
| \n \n Provisions\n \n | \n \n \n 27.2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 30.3\n \n | \n
| \n \n Deferred tax liabilities\n \n | \n \n \n 79.7\n \n | \n
| \n \n Defined benefit liabilities\n \n | \n \n \n 1.2\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 140.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 111.1\n \n | \n
With respect to acquired receivables, the fair value of trade and other receivables at the acquisition date amounted to CHF 1,183.7 million. The gross contractual amount of receivables acquired was CHF 1,216.8 million. The best estimate at the acquisition date of the contractual cash flows not expected to be collected amounted to CHF 33.1 million.
Provisions include contingent liabilities for a potential risk associated with VAT deductions with an estimated amount of CHF 16.0 million, with insurance covering 80%.
Details of the purchase considerations recognized at acquisition and the derivation of goodwill are as follows:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Share consideration\n \n | \n \n \n 472.0\n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n 85.4\n \n | \n
| \n \n Fair value of Crayon shares already owned by SoftwareOne\n \n | \n \n \n 70.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 1,047.7\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n \u2013111.1\n \n | \n
| \n \n Non-controlling interest in Crayon subsidiaries\n \n | \n \n \n 9.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 946.1\n \n | \n
The purchase price allocation for the business combination is still provisional as of December 31, 2025, as work on certain items including contingent liabilities and tax risks is ongoing.
The share consideration for the 62,521,493 newly issued SoftwareOne shares amounts to CHF 472.0 million, based on the closing share price of CHF 7.55 on the SIX Swiss Exchange as of July 2, 2025. Additionally, a cash payment of CHF 419.4 million (NOK 5,240 million) was made for all 75,941,335 outstanding Crayon shares. The price payable per share in the compulsory acquisition corresponds to the offer price under the voluntary offer resulting in a cash payment of CHF 85.4 million (NOK 1,056 million).
In December 2024, SoftwareOne entered into a foreign currency call option to hedge foreign currency risks relating to the Crayon acquisition. The option was designated as a cash flow hedge.\u00a0In June 2025, SoftwareOne restructured the hedging instrument into a plain vanilla currency swap. At the date of completion, related amounts accumulated in OCI amounting to a loss of CHF 9.5 million were transferred from the hedging reserve as a basis adjustment and are included in the cash considerations for the voluntary offer and for the squeeze-out.
SoftwareOne held 6,259,613 shares prior to the completion of the transaction, equivalent to approximately 6.99% of the outstanding shares in Crayon resulting in a fair value of CHF 70.9 million.
Non-controlling interest is measured at its proportionate share of the fair values of the identifiable net assets acquired, amounting to CHF 9.5\u00a0million. Accordingly, the goodwill arising from the business combination represents only the portion attributable to the controlling interest held by SoftwareOne.
The goodwill recognized primarily represents the assembled workforce and expected synergies by combining the activities of Crayon with those of the group. The goodwill is not deductible for income tax purposes.
Acquisition-related costs such as due diligence, legal and advisory costs totaling CHF \u201320.8 million, are directly attributable to this acquisition. CHF \u20138.6 million has been recognized as other operating expenses in 2025 and CHF \u201312.2 million in 2024.
From the date of acquisition, Crayon has contributed CHF 273.5\u00a0million in revenue and CHF \u20136.9 million to earnings before income tax.
If the acquisition had taken place at the beginning of the year, revenue of the combined group would have been CHF 1,513.9\u00a0million and earnings before income tax would have been CHF 37.8\u00a0million.
The transaction was financed by bridge facilities amounting to CHF 700.0 million to fund the total cash consideration including the compulsory acquisition (bridge facility A of CHF 500.0 million) and to refinance Crayon\u2019s existing debt (bridge facility B of CHF 200.0 million). Crayon\u2019s\u00a0bond loan was repaid at the repayable amount including a make-whole payment in accordance with the contract. In July 2025, the group entered into a new financing agreement including a CHF 660.0 million multi-currency revolving credit facility, and a CHF 600.0 million term loan facility. For further details, refer to Note 20 Financial liabilities.
| \n \n in CHF million\n \n | \n \n \n Crayon\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u2013419.4\n \n | \n \n \n -\n \n | \n \n \n \u2013419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n \u201385.4\n \n | \n \n \n -\n \n | \n \n \n \u201385.4\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 217.3\n \n | \n \n \n -\n \n | \n \n \n 217.3\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u2013287.5\n \n | \n \n \n -\n \n | \n \n \n \u2013287.5\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20132.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u2013287.5\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u2013290.2\n \n | \n
\n 1)Paid contingent consideration liability for Medalsoft and Predica, refer to fair value estimation in Note 4.3.\n
\nIn 2025, the group finalized the purchase accounting for the acquisition of Medalsoft International Co. Ltd., China, made in 2024. There were no changes in the final fair values of acquired assets and liabilities compared to the provisional amounts disclosed in the 2024 Consolidated Financial Statements.
The fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current assets\n \n | \n \n \n 7.0\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 7.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 2.5\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 0.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
Details of the purchase considerations recognized at acquisition and the derivation of goodwill were as follows:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 15.0\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 6.3\n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 21.3\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 17.4\n \n | \n
The cash flow on acquisitions was:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u201315.0\n \n | \n \n \n -\n \n | \n \n \n \u201315.0\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u201314.1\n \n | \n \n \n -\n \n | \n \n \n \u201314.1\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u20135.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u201314.1\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u201319.4\n \n | \n
\n 1)Including a subsequent purchase price adjustment of CHF 0.8 million for Novis, a deferred payment of CHF \u20131.3 million for Novis and payments of contingent consideration liabilities for Predica and Intelligence Partner in the amount of CHF \u20133.2 million.\n
\nIn 2025, the group purchased non-controlling interest held by minority shareholders in Crayon subsidiaries. As these transactions occurred after control had already been obtained, they were accounted for as equity transactions. The difference between the consideration paid and the carrying amount of the acquired non-controlling interest of CHF \u20130.5 million was recognized directly in equity.
| \n \n \n \n | \n \n \n \n \n | \n \n \n Voting & capital rights\nin %\n \n | \n \n \n Voting & capital rights\nin %\n \n | \n
| \n \n Company\n \n | \n \n \n Registered country\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Germany, Austria and Switzerland (DACH)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareOne Holding AG\n \n | \n \n \n Stans, CH\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n SoftwareONE AG\n \n | \n \n \n Stans, CH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Beteiligungs GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n COMPAREX Beteiligungsverwaltung GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE \u00d6sterreich GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Deutschland GmbH\n \n | \n \n \n Leipzig, DE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Schweiz AG\n \n | \n \n \n Altdorf, CH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Austria GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Deutschland GmbH\n \n | \n \n \n Munich, DE\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint Group (Germany) GmbH\n \n | \n \n \n Hamburg, DE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Western Europe, Middle East and Africa (WEMEA)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n |
| \n \n SoftwareONE UK Ltd\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Comparex UK Limited 1)\n \n | \n \n \n Birmingham, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Italia Srl\n \n | \n \n \n Assago, IT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE France SAS\n \n | \n \n \n Saint-Quen, FR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE LATAM Holding S.L.\n \n | \n \n \n Madrid, ES\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Software Pipeline Ireland Ltd\n \n | \n \n \n Cork, IE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Luxembourg SARL\n \n | \n \n \n Luxembourg, LU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE BE B.V.\n \n | \n \n \n Brussels, BE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Systematika Distribution S.R.L.\n \n | \n \n \n Lainate, IT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Netherlands B.V.\n \n | \n \n \n Amsterdam, NL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Spain S.A.\n \n | \n \n \n Madrid, ES\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n HeleCloud Limited\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Dino Newco Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Centiq Group Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Taurus Informatics Holdings Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Centiq Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Mauritius 2)\n \n | \n \n \n Port Louis, MU\n \n | \n \n \n 49\n \n | \n \n \n 49\n \n | \n
| \n \n SoftwareONE Experts South Africa (Pty) Ltd 2)\n \n | \n \n \n Johannesburg, ZA\n \n | \n \n \n 49\n \n | \n \n \n 49\n \n | \n
| \n \n SoftwareONE AG Trading LLC 2)\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 49\n \n | \n \n \n 49\n \n | \n
| \n \n Predica FZ LLC\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Predica FZ LLC \u2013 Mainland Dubai Branch\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Softwareone Middle East LLC\n \n | \n \n \n Doha, QA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Ltd\n \n | \n \n \n London, UK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint (UK) Limited\n \n | \n \n \n London, UK\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint (Ireland) Limited\n \n | \n \n \n Lismore, IE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon France SAS\n \n | \n \n \n Paris, FR\n \n | \n \n \n 85\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Spain SL\n \n | \n \n \n Madrid, ES\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Licensing Unipessoal LDA\n \n | \n \n \n Lisbon, PT\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon BV\n \n | \n \n \n Amsterdam, NL\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Africa SA\n \n | \n \n \n Johannesburg, ZA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Mauritius Ltd\n \n | \n \n \n Port Louis, MU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon DMCC\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Middle East Information Technology Consultants LLC\n \n | \n \n \n Abu Dhabi, AE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Consulting and Trading\n \n | \n \n \n Doha, QA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Arab Company for Information \nSystems Technology LLC 3)\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 39\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Regional Headquarters\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Wadi Al Omar Co\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Northern Europe (Nordics)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE AB Sweden\n \n | \n \n \n Stockholm, SE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Norway AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Finland Oy\n \n | \n \n \n Espoo, FI\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Denmark Aps\n \n | \n \n \n Birker\u00f8d, DK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Group Holding ASA\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Group AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Consulting AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n TCP-GCP AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Consulting A/S\n \n | \n \n \n Copenhagen, DK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon A/S\n \n | \n \n \n Copenhagen, DK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon AB\n \n | \n \n \n Stockholm, SE\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon OY\n \n | \n \n \n Helsinki, FI\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Iceland ehf.\n \n | \n \n \n Reykjavik, IS\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Ice Distributions hf\n \n | \n \n \n Reykjavik, IS\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Sensa ehf\n \n | \n \n \n Reykjav\u00edk, IS\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Central and Eastern Europe (CEE)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Czech Republic s.r.o.\n \n | \n \n \n Prague, CZ\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Slovakia s.r.o.\n \n | \n \n \n Bratislava, SK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Hungary Kft.\n \n | \n \n \n Budapest, HU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Licensing Experts SRL\n \n | \n \n \n Bucharest, RO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE d.o.o. 4)\n \n | \n \n \n Belgrade, RS\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Polska sp. z.o.o.\n \n | \n \n \n Warsaw, PL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE, informacijski sistemi, d.o.o.\n \n | \n \n \n Ljubljana, SL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Ukraine LLC\n \n | \n \n \n Kyiv, UA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Kazakhstan LLP\n \n | \n \n \n Almaty, KZ\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Bulgaria EOOD\n \n | \n \n \n Sofia, BG\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Turkey Bili\u015fim \nTeknolojileri Ticaret A. \u015e.\n \n | \n \n \n Istanbul, TR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Predica sp. z.o.o.\n \n | \n \n \n Warsaw, PL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon doo Beograd\n \n | \n \n \n Belgrade, RS\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Bulgaria OOD\n \n | \n \n \n Sofia, BG\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Krejon Makedonija DOO\n \n | \n \n \n Skopje, NM\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n SIA \u201cCrayon Latvia\u201d\n \n | \n \n \n Riga, LV\n \n | \n \n \n 98\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Romania S.R.L.\n \n | \n \n \n Bucharest, RO\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Poland sp.\u00a0z o.o.\n \n | \n \n \n Warszawa, PL\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Czech Republic and Slovakia s.r.o.\n \n | \n \n \n Prague, CZ\n \n | \n \n \n 90\n \n | \n \n \n -\n \n | \n
| \n \n LLC \u00abCrayon Ukraine\u00bb\n \n | \n \n \n Kyiv, UA\n \n | \n \n \n 97\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Magyarorsz\u00e1g Korl\u00e1tolt Felel\u0151ss\u00e9g\u0171 T\u00e1rsas\u00e1g\n \n | \n \n \n Budapest, HU\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n CRAYON, celovite IT re\u0161itve, d.o.o.\n \n | \n \n \n Ljubljana, SI\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Lithuania UAB\n \n | \n \n \n Vilnius, LT\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Estonia O\u00dc\n \n | \n \n \n Tallinn, EE\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Latin America (LATAM)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Com\u00e9rcio e Servicos \nde Informatica Ltda\n \n | \n \n \n S\u00e3o Paulo, BR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Chile SpA\n \n | \n \n \n Santiago, CL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Argentina S.R.L.\n \n | \n \n \n Buenos Aires, AR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Puerto Rico Inc.\n \n | \n \n \n San Juan, PR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Bolivia S.R.L.\n \n | \n \n \n La Paz, BO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Colombia S.A.S.\n \n | \n \n \n Bogota, CO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Ecuador Soluciones S.A.\n \n | \n \n \n Quito, EC\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE SW1 Dominican Republic SRL\n \n | \n \n \n Santo Domingo, DO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Softwarepipeline S. de R.L. de C.V.\n \n | \n \n \n Mexico City, MX\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SWON IT Services M\u00e9xico, S.A. de CV.\n \n | \n \n \n Mexico City, MX\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Yaima S.A.\n \n | \n \n \n Guatemala City, GT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Uruguay S.A.\n \n | \n \n \n Montevideo, UY\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Panam\u00e1 S.A.\n \n | \n \n \n Panama City, PA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Peru S.A.C.\n \n | \n \n \n Lima, PE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE El Salvador S.A. de C.V.\n \n | \n \n \n San Salvador, SV\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Honduras S.A.\n \n | \n \n \n Tegucigalpa, HN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Nicaragua S.A.\n \n | \n \n \n Managua, NI\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE West Indies S.A. 4)\n \n | \n \n \n Gros Islet, LC\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Jamaica Inc. Ltd.\n \n | \n \n \n Kingston, JM\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Trinidad and Tobago Ltd.\n \n | \n \n \n Port of Spain, TT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Costa Rica S.A.\n \n | \n \n \n San Jos\u00e9, CR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE IT Services S.A.\n \n | \n \n \n San Jos\u00e9, CR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n COMPAREX Brasil S.A.\n \n | \n \n \n S\u00e3o Paulo, BR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n IG Services S.A.S.\n \n | \n \n \n Medellin, CO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n IG Unified Communications S.A.S.\n \n | \n \n \n Medellin, CO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n IG Branch Mexico S.A. de C.V.\n \n | \n \n \n Mexico City, MX\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n BigBranch SA\n \n | \n \n \n Quito, EC\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Intergrupo Dominicana SRL\n \n | \n \n \n Santo Domingo, DO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE IT Services S.A.\n \n | \n \n \n Panama City, PA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n North America (NORAM)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Inc.\n \n | \n \n \n Milwaukee, Wisconsin, US\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Canada Inc.\n \n | \n \n \n Toronto, CA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Software Experts Holding LLC\n \n | \n \n \n Dallas, US\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts LLC\n \n | \n \n \n Dallas, US\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint Group Inc\n \n | \n \n \n San Francisco, US\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Software Wholesale International Inc\n \n | \n \n \n Denver, US\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint International Holding LLC\n \n | \n \n \n Dover, US\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint ULC\n \n | \n \n \n Montr\u00e9al, CA\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Asia Pacific (APAC)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Pte. Ltd.\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Experts Sdn Bhd Malaysia\n \n | \n \n \n Kuala Lumpur, MY\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE (Shanghai) Trading Co., Ltd.\n \n | \n \n \n Shanghai, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE India Private Ltd.\n \n | \n \n \n New Delhi, IN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Japan K.K.\n \n | \n \n \n Tokyo, JP\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Ltd. Liability CO. Saudi Arabia\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Australia Pty. Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Brave New World Consulting Pty. Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Philippines Corp.\n \n | \n \n \n Makati City, PH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Thailand Co. Ltd.\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Software Pipeline Co. Ltd.\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Hong Kong Ltd.\n \n | \n \n \n Hong Kong, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n PT SoftwareONE Indonesia\n \n | \n \n \n Jakarta Pusat, ID\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Taiwan Limited\n \n | \n \n \n Taipei, TW\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Vietnam Co. Ltd.\n \n | \n \n \n Hanoi, VN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Korea Co. Ltd.\n \n | \n \n \n Seoul, KR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE (New Zealand) Ltd.\n \n | \n \n \n Auckland, NZ\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n P.T. COMPAREX Indonesia 1)\n \n | \n \n \n Jakarta, ID\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n COMPAREX Thailand Limited 4)\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n GorillaStack Pty. Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n ITPC India Private Ltd. 4)\n \n | \n \n \n Pune, IN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Lanka (Private) Limited\n \n | \n \n \n Colombo, LK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Medalsoft International Co., Ltd.\n \n | \n \n \n Shanghai, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Medalsoft Technology (Wuxi) Co., Ltd. 1)\n \n | \n \n \n Wuxi, CN\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Medalsoft Interconnection (Wuxi) Co., Ltd.\n \n | \n \n \n Wuxi, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Pte Ltd\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n emt Distribution Pte Ltd\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Singapore Pte Ltd\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts India Pvt Ltd\n \n | \n \n \n Mumbai, IN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon IT Services Private Limited\n \n | \n \n \n Mumbai, IN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Kryptos Technologies Private Limited\n \n | \n \n \n Mumbai, IN\n \n | \n \n \n 50\n \n | \n \n \n -\n \n | \n
| \n \n Kryptos Networks Pvt Ltd\n \n | \n \n \n Chennai, IN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint India Private Limited\n \n | \n \n \n Delhi, IN\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Philippines Inc\n \n | \n \n \n Makati City, PH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Philippines, Inc\n \n | \n \n \n Manila, PH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Technology Philippines, Inc\n \n | \n \n \n Manila, PH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Malaysia Sdn Bhd\n \n | \n \n \n Kuala Lumpur, MY\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Malaysia Sdn. Bhd.\n \n | \n \n \n Kuala Lumpur, MY\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Lanka Pvt Ltd\n \n | \n \n \n Colombo, LK\n \n | \n \n \n 90\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Lanka (Pvt) Limited\n \n | \n \n \n Colombo, LK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon (Thailand) Co. Ltd\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon South Korea Ltd\n \n | \n \n \n Seoul, KR\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Japan K.K.\n \n | \n \n \n Tokyo, JP\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Hong Kong Limited\n \n | \n \n \n Hong Kong, CN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n PT Krayon Konsultan Indonesia\n \n | \n \n \n Jakarta, ID\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n PT Rhipe International Indonesia\n \n | \n \n \n Jakarta, ID\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Australia Holding Pty Ltd (Holdco)\n \n | \n \n \n Melbourne, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Australia Pty Ltd (Bidco)\n \n | \n \n \n Melbourne, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Australia PTY LTD\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Navicle Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Limited\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Australia Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Dynamics Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Cloud Solutions Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Solutions Australia Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n SmartEncrypt Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Parallo Pty Ltd ATF Parallo Unit Trust\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Data Confidence Solutions Pty Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Dynamic Business IT Solutions Pty Limited\n \n | \n \n \n Brisbane, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n emt Distribution Pty Ltd\n \n | \n \n \n Adelaid, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint Group, Inc\n \n | \n \n \n New South Wales, AU\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon New Zealand Ltd\n \n | \n \n \n Auckland, NZ\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Parallo Limited\n \n | \n \n \n Auckland, NZ\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
\n 1)Company was liquidated in 2025.\n
\n\n 2)SoftwareOne is full economic owner of this company and has full control.\n
\n\n 3)Crayon Group AS has control over the entities through 80% ownership in Crayon DMCC, which owns 49% of the share.\n
\n\n 4)Company in liquidation.\n
\n| \n \n Company\n \n | \n \n \n Registered country\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cloud Direct Limited\n \n | \n \n \n London, UK\n \n | \n \n \n 23\n \n | \n \n \n -\n \n | \n
Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
On July 2, 2025, SoftwareOne completed the transaction to acquire Crayon Group Holding ASA, Norway (Crayon), combining two leading global providers of software and cloud solutions. Upon settlement of the offer, SoftwareOne acquired 75,941,335 Crayon shares, ending up in approximately 91.77% of the share capital and voting rights in Crayon. A compulsory acquisition (squeeze-out) of all remaining Crayon shares pursuant to the Norwegian Public Limited Liability Companies Act and the Norwegian Securities Trading Act was initiated. As control was gained immediately, the squeeze out is also part of the business combination accounting.
As a result, SoftwareOne assumed 100% ownership of Crayon. Settlement took place on July 8, 2025. The secondary listing and trading of the SoftwareOne shares on Euronext Oslo B\u00f8rs commenced on July 3, 2025. The shares of Crayon Group Holding ASA were delisted from trading on Euronext Oslo B\u00f8rs on July 11, 2025.
Prior to the acquisition, the creation of a capital band was approved at the Extraordinary General Meeting of SoftwareOne Holding AG on April 11, 2025, authorizing the Board of Directors to issue up to 72,205,459 fully paid-up registered shares.
The provisional fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Assets\n \n | \n \n \n As of July 2, 2025\n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n 217.3\n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 1,115.4\n \n | \n
| \n \n Income tax receivables\n \n | \n \n \n 7.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 55.0\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 73.1\n \n | \n
| \n \n Current assets\n \n | \n \n \n 1,468.4\n \n | \n
| \n \n Tangible assets\n \n | \n \n \n 9.0\n \n | \n
| \n \n Intangible assets\n \n | \n \n \n 325.5\n \n | \n
| \n \n Right-of-use assets\n \n | \n \n \n 39.4\n \n | \n
| \n \n Investments in associated companies\n \n | \n \n \n 3.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 13.3\n \n | \n
| \n \n Deferred tax assets\n \n | \n \n \n 17.5\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 408.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 1,876.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Liabilities\n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 1,284.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 140.7\n \n | \n
| \n \n Accrued expenses and contract liabilities\n \n | \n \n \n 63.0\n \n | \n
| \n \n Income tax liabilities\n \n | \n \n \n 5.0\n \n | \n
| \n \n Provisions\n \n | \n \n \n 5.3\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 126.2\n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 1,625.1\n \n | \n
| \n \n Other payables\n \n | \n \n \n 2.1\n \n | \n
| \n \n Provisions\n \n | \n \n \n 27.2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 30.3\n \n | \n
| \n \n Deferred tax liabilities\n \n | \n \n \n 79.7\n \n | \n
| \n \n Defined benefit liabilities\n \n | \n \n \n 1.2\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 140.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 111.1\n \n | \n
With respect to acquired receivables, the fair value of trade and other receivables at the acquisition date amounted to CHF 1,183.7 million. The gross contractual amount of receivables acquired was CHF 1,216.8 million. The best estimate at the acquisition date of the contractual cash flows not expected to be collected amounted to CHF 33.1 million.
Provisions include contingent liabilities for a potential risk associated with VAT deductions with an estimated amount of CHF 16.0 million, with insurance covering 80%.
Details of the purchase considerations recognized at acquisition and the derivation of goodwill are as follows:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Share consideration\n \n | \n \n \n 472.0\n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n 85.4\n \n | \n
| \n \n Fair value of Crayon shares already owned by SoftwareOne\n \n | \n \n \n 70.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 1,047.7\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n \u2013111.1\n \n | \n
| \n \n Non-controlling interest in Crayon subsidiaries\n \n | \n \n \n 9.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 946.1\n \n | \n
The purchase price allocation for the business combination is still provisional as of December 31, 2025, as work on certain items including contingent liabilities and tax risks is ongoing.
The share consideration for the 62,521,493 newly issued SoftwareOne shares amounts to CHF 472.0 million, based on the closing share price of CHF 7.55 on the SIX Swiss Exchange as of July 2, 2025. Additionally, a cash payment of CHF 419.4 million (NOK 5,240 million) was made for all 75,941,335 outstanding Crayon shares. The price payable per share in the compulsory acquisition corresponds to the offer price under the voluntary offer resulting in a cash payment of CHF 85.4 million (NOK 1,056 million).
In December 2024, SoftwareOne entered into a foreign currency call option to hedge foreign currency risks relating to the Crayon acquisition. The option was designated as a cash flow hedge.\u00a0In June 2025, SoftwareOne restructured the hedging instrument into a plain vanilla currency swap. At the date of completion, related amounts accumulated in OCI amounting to a loss of CHF 9.5 million were transferred from the hedging reserve as a basis adjustment and are included in the cash considerations for the voluntary offer and for the squeeze-out.
SoftwareOne held 6,259,613 shares prior to the completion of the transaction, equivalent to approximately 6.99% of the outstanding shares in Crayon resulting in a fair value of CHF 70.9 million.
Non-controlling interest is measured at its proportionate share of the fair values of the identifiable net assets acquired, amounting to CHF 9.5\u00a0million. Accordingly, the goodwill arising from the business combination represents only the portion attributable to the controlling interest held by SoftwareOne.
The goodwill recognized primarily represents the assembled workforce and expected synergies by combining the activities of Crayon with those of the group. The goodwill is not deductible for income tax purposes.
Acquisition-related costs such as due diligence, legal and advisory costs totaling CHF \u201320.8 million, are directly attributable to this acquisition. CHF \u20138.6 million has been recognized as other operating expenses in 2025 and CHF \u201312.2 million in 2024.
From the date of acquisition, Crayon has contributed CHF 273.5\u00a0million in revenue and CHF \u20136.9 million to earnings before income tax.
If the acquisition had taken place at the beginning of the year, revenue of the combined group would have been CHF 1,513.9\u00a0million and earnings before income tax would have been CHF 37.8\u00a0million.
The transaction was financed by bridge facilities amounting to CHF 700.0 million to fund the total cash consideration including the compulsory acquisition (bridge facility A of CHF 500.0 million) and to refinance Crayon\u2019s existing debt (bridge facility B of CHF 200.0 million). Crayon\u2019s\u00a0bond loan was repaid at the repayable amount including a make-whole payment in accordance with the contract. In July 2025, the group entered into a new financing agreement including a CHF 660.0 million multi-currency revolving credit facility, and a CHF 600.0 million term loan facility. For further details, refer to Note 20 Financial liabilities.
| \n \n in CHF million\n \n | \n \n \n Crayon\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u2013419.4\n \n | \n \n \n -\n \n | \n \n \n \u2013419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n \u201385.4\n \n | \n \n \n -\n \n | \n \n \n \u201385.4\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 217.3\n \n | \n \n \n -\n \n | \n \n \n 217.3\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u2013287.5\n \n | \n \n \n -\n \n | \n \n \n \u2013287.5\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20132.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u2013287.5\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u2013290.2\n \n | \n
\n 1)Paid contingent consideration liability for Medalsoft and Predica, refer to fair value estimation in Note 4.3.\n
\nIn 2025, the group finalized the purchase accounting for the acquisition of Medalsoft International Co. Ltd., China, made in 2024. There were no changes in the final fair values of acquired assets and liabilities compared to the provisional amounts disclosed in the 2024 Consolidated Financial Statements.
The fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current assets\n \n | \n \n \n 7.0\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 7.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 2.5\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 0.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
Details of the purchase considerations recognized at acquisition and the derivation of goodwill were as follows:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 15.0\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 6.3\n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 21.3\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 17.4\n \n | \n
The cash flow on acquisitions was:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u201315.0\n \n | \n \n \n -\n \n | \n \n \n \u201315.0\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u201314.1\n \n | \n \n \n -\n \n | \n \n \n \u201314.1\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u20135.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u201314.1\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u201319.4\n \n | \n
\n 1)Including a subsequent purchase price adjustment of CHF 0.8 million for Novis, a deferred payment of CHF \u20131.3 million for Novis and payments of contingent consideration liabilities for Predica and Intelligence Partner in the amount of CHF \u20133.2 million.\n
\nIn 2025, the group purchased non-controlling interest held by minority shareholders in Crayon subsidiaries. As these transactions occurred after control had already been obtained, they were accounted for as equity transactions. The difference between the consideration paid and the carrying amount of the acquired non-controlling interest of CHF \u20130.5 million was recognized directly in equity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90060-4": { "value": "Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
On July 2, 2025, SoftwareOne completed the transaction to acquire Crayon Group Holding ASA, Norway (Crayon), combining two leading global providers of software and cloud solutions. Upon settlement of the offer, SoftwareOne acquired 75,941,335 Crayon shares, ending up in approximately 91.77% of the share capital and voting rights in Crayon. A compulsory acquisition (squeeze-out) of all remaining Crayon shares pursuant to the Norwegian Public Limited Liability Companies Act and the Norwegian Securities Trading Act was initiated. As control was gained immediately, the squeeze out is also part of the business combination accounting.
As a result, SoftwareOne assumed 100% ownership of Crayon. Settlement took place on July 8, 2025. The secondary listing and trading of the SoftwareOne shares on Euronext Oslo B\u00f8rs commenced on July 3, 2025. The shares of Crayon Group Holding ASA were delisted from trading on Euronext Oslo B\u00f8rs on July 11, 2025.
Prior to the acquisition, the creation of a capital band was approved at the Extraordinary General Meeting of SoftwareOne Holding AG on April 11, 2025, authorizing the Board of Directors to issue up to 72,205,459 fully paid-up registered shares.
The provisional fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Assets\n \n | \n \n \n As of July 2, 2025\n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n 217.3\n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 1,115.4\n \n | \n
| \n \n Income tax receivables\n \n | \n \n \n 7.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 55.0\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 73.1\n \n | \n
| \n \n Current assets\n \n | \n \n \n 1,468.4\n \n | \n
| \n \n Tangible assets\n \n | \n \n \n 9.0\n \n | \n
| \n \n Intangible assets\n \n | \n \n \n 325.5\n \n | \n
| \n \n Right-of-use assets\n \n | \n \n \n 39.4\n \n | \n
| \n \n Investments in associated companies\n \n | \n \n \n 3.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 13.3\n \n | \n
| \n \n Deferred tax assets\n \n | \n \n \n 17.5\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 408.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 1,876.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Liabilities\n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 1,284.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 140.7\n \n | \n
| \n \n Accrued expenses and contract liabilities\n \n | \n \n \n 63.0\n \n | \n
| \n \n Income tax liabilities\n \n | \n \n \n 5.0\n \n | \n
| \n \n Provisions\n \n | \n \n \n 5.3\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 126.2\n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 1,625.1\n \n | \n
| \n \n Other payables\n \n | \n \n \n 2.1\n \n | \n
| \n \n Provisions\n \n | \n \n \n 27.2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n 30.3\n \n | \n
| \n \n Deferred tax liabilities\n \n | \n \n \n 79.7\n \n | \n
| \n \n Defined benefit liabilities\n \n | \n \n \n 1.2\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 140.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 111.1\n \n | \n
With respect to acquired receivables, the fair value of trade and other receivables at the acquisition date amounted to CHF 1,183.7 million. The gross contractual amount of receivables acquired was CHF 1,216.8 million. The best estimate at the acquisition date of the contractual cash flows not expected to be collected amounted to CHF 33.1 million.
Provisions include contingent liabilities for a potential risk associated with VAT deductions with an estimated amount of CHF 16.0 million, with insurance covering 80%.
Details of the purchase considerations recognized at acquisition and the derivation of goodwill are as follows:
| \n \n in CHF million\n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Share consideration\n \n | \n \n \n 472.0\n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n 85.4\n \n | \n
| \n \n Fair value of Crayon shares already owned by SoftwareOne\n \n | \n \n \n 70.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 1,047.7\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n \u2013111.1\n \n | \n
| \n \n Non-controlling interest in Crayon subsidiaries\n \n | \n \n \n 9.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 946.1\n \n | \n
The purchase price allocation for the business combination is still provisional as of December 31, 2025, as work on certain items including contingent liabilities and tax risks is ongoing.
The share consideration for the 62,521,493 newly issued SoftwareOne shares amounts to CHF 472.0 million, based on the closing share price of CHF 7.55 on the SIX Swiss Exchange as of July 2, 2025. Additionally, a cash payment of CHF 419.4 million (NOK 5,240 million) was made for all 75,941,335 outstanding Crayon shares. The price payable per share in the compulsory acquisition corresponds to the offer price under the voluntary offer resulting in a cash payment of CHF 85.4 million (NOK 1,056 million).
In December 2024, SoftwareOne entered into a foreign currency call option to hedge foreign currency risks relating to the Crayon acquisition. The option was designated as a cash flow hedge.\u00a0In June 2025, SoftwareOne restructured the hedging instrument into a plain vanilla currency swap. At the date of completion, related amounts accumulated in OCI amounting to a loss of CHF 9.5 million were transferred from the hedging reserve as a basis adjustment and are included in the cash considerations for the voluntary offer and for the squeeze-out.
SoftwareOne held 6,259,613 shares prior to the completion of the transaction, equivalent to approximately 6.99% of the outstanding shares in Crayon resulting in a fair value of CHF 70.9 million.
Non-controlling interest is measured at its proportionate share of the fair values of the identifiable net assets acquired, amounting to CHF 9.5\u00a0million. Accordingly, the goodwill arising from the business combination represents only the portion attributable to the controlling interest held by SoftwareOne.
The goodwill recognized primarily represents the assembled workforce and expected synergies by combining the activities of Crayon with those of the group. The goodwill is not deductible for income tax purposes.
Acquisition-related costs such as due diligence, legal and advisory costs totaling CHF \u201320.8 million, are directly attributable to this acquisition. CHF \u20138.6 million has been recognized as other operating expenses in 2025 and CHF \u201312.2 million in 2024.
From the date of acquisition, Crayon has contributed CHF 273.5\u00a0million in revenue and CHF \u20136.9 million to earnings before income tax.
If the acquisition had taken place at the beginning of the year, revenue of the combined group would have been CHF 1,513.9\u00a0million and earnings before income tax would have been CHF 37.8\u00a0million.
The transaction was financed by bridge facilities amounting to CHF 700.0 million to fund the total cash consideration including the compulsory acquisition (bridge facility A of CHF 500.0 million) and to refinance Crayon\u2019s existing debt (bridge facility B of CHF 200.0 million). Crayon\u2019s\u00a0bond loan was repaid at the repayable amount including a make-whole payment in accordance with the contract. In July 2025, the group entered into a new financing agreement including a CHF 660.0 million multi-currency revolving credit facility, and a CHF 600.0 million term loan facility. For further details, refer to Note 20 Financial liabilities.
| \n \n in CHF million\n \n | \n \n \n Crayon\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u2013419.4\n \n | \n \n \n -\n \n | \n \n \n \u2013419.4\n \n | \n
| \n \n Cash consideration squeeze-out\n \n | \n \n \n \u201385.4\n \n | \n \n \n -\n \n | \n \n \n \u201385.4\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 217.3\n \n | \n \n \n -\n \n | \n \n \n 217.3\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u2013287.5\n \n | \n \n \n -\n \n | \n \n \n \u2013287.5\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20132.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u2013287.5\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u2013290.2\n \n | \n
\n 1)Paid contingent consideration liability for Medalsoft and Predica, refer to fair value estimation in Note 4.3.\n
\nIn 2025, the group finalized the purchase accounting for the acquisition of Medalsoft International Co. Ltd., China, made in 2024. There were no changes in the final fair values of acquired assets and liabilities compared to the provisional amounts disclosed in the 2024 Consolidated Financial Statements.
The fair values of the identifiable assets and liabilities as of the date of acquisition were:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current assets\n \n | \n \n \n 7.0\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total assets\n \n | \n \n \n 7.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current liabilities\n \n | \n \n \n 2.5\n \n | \n
| \n \n Non-current liabilities\n \n | \n \n \n 0.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
Details of the purchase considerations recognized at acquisition and the derivation of goodwill were as follows:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n 15.0\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 6.3\n \n | \n
| \n \n Total purchase consideration\n \n | \n \n \n 21.3\n \n | \n
| \n \n Less net assets acquired at fair value\n \n | \n \n \n 3.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 17.4\n \n | \n
The cash flow on acquisitions was:
| \n \n in CHF million\n \n | \n \n \n Medalsoft\n \n | \n \n \n Others\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash consideration\n \n | \n \n \n \u201315.0\n \n | \n \n \n -\n \n | \n \n \n \u201315.0\n \n | \n
| \n \n Net cash acquired\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n
| \n \n Cash consideration for current period acquisitions\n \n | \n \n \n \u201314.1\n \n | \n \n \n -\n \n | \n \n \n \u201314.1\n \n | \n
| \n \n Cash consideration for prior period acquisitions1)\n \n | \n \n \n -\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u20135.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Net outflow of cash \u2013 investing activities\n \n | \n \n \n \u201314.1\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u201319.4\n \n | \n
\n 1)Including a subsequent purchase price adjustment of CHF 0.8 million for Novis, a deferred payment of CHF \u20131.3 million for Novis and payments of contingent consideration liabilities for Predica and Intelligence Partner in the amount of CHF \u20133.2 million.\n
\nIn 2025, the group purchased non-controlling interest held by minority shareholders in Crayon subsidiaries. As these transactions occurred after control had already been obtained, they were accounted for as equity transactions. The difference between the consideration paid and the carrying amount of the acquired non-controlling interest of CHF \u20130.5 million was recognized directly in equity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90060-5": { "value": "Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90060-6": { "value": "Goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at closing rate.
The carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90060-7": { "value": "Contingent consideration arrangements related to business acquisitions in which payments are contingent on continued employment and thus compensation for future service are recognized as remuneration and accrued amounts are presented as earn-out provisions.
As an internationally operating group, SoftwareOne is exposed to contingencies in respect of legal and tax claims in the ordinary course of business. It is not anticipated that any material liabilities will arise from the contingent liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90060-8": { "value": "In 2025, the group purchased non-controlling interest held by minority shareholders in Crayon subsidiaries. As these transactions occurred after control had already been obtained, they were accounted for as equity transactions. The difference between the consideration paid and the carrying amount of the acquired non-controlling interest of CHF \u20130.5 million was recognized directly in equity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-1": { "value": "The group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk), credit risk and liquidity risk. The group\u2019s overall risk management program is focused on mitigating the unpredictability of financial markets and aims to minimize potential adverse effects on the group\u2019s financial performance. To hedge certain risk exposures, the group uses derivative financial instruments, which are measured using standardized mathematical models.
Risk management is carried out by Group Treasury under the Global Treasury Policy approved by the Board of Directors. Group Treasury identifies, evaluates, and hedges financial risks in close cooperation with the group\u2019s operating entities. The Board provides written principles for overall risk management, as well as written policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments and investment of excess liquidity.
The group operates internationally and is exposed to foreign exchange risk arising from various currency exposures. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations.
The group hedges its foreign exchange risk exposure of recognized assets and liabilities and future commercial transactions with derivative contracts. The group reviews the currency exposure regularly and covers its risks in two ways:
There are certain investments in foreign operations whose net assets are exposed to foreign currency translation risk which, as per group policy, is not hedged. Long-term receivables from a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future, are considered a part of the net investment. These differences are recognized in other comprehensive income and accumulated in equity. Translation risk is not considered in the analysis below.
The following table details the group\u2019s sensitivity to the major currencies with all other variables held constant:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||||
| \n \n \nImpact in CHF million\n \n | \n \n \n \nSensitivity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n ||||
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EUR\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.3\n \n | \n \n \n +/\u2013\n \n | \n \n \n 0.1\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n
| \n \n USD\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.7\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.9\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.2\n \n | \n \n \n +/\u2013\n \n | \n \n \n 2.1\n \n | \n
The group\u2019s interest-bearing instruments with variable interest are cash, bank overdrafts, bank loans, a multi-currency revolving credit facility and a term loan facility, see also\u00a0Note 20 Financial liabilities. An interest rate risk exists due to changes in market interest rates. The group has managed the risk of changes in the interest rates based on limits using interest rate derivatives as part of the defined risk strategy. The underlying transactions are designated as cash flow hedges. They are expected to affect profit and loss until August 2029, respectively. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item, and the nature of the risk being hedged. The hedges are expected to be highly effective.
Interest rate swaps are held in CHF and USD. A change in interest rates of +/\u20130.25 basis points with all other variables held constant would have no impact on earnings before income tax for 2025 and 2024. The impact would be recognized in equity through the hedging reserve and would lead to an increase/decrease of CHF 2.7 for CHF in 2025. The impact for USD in 2025 would not be significant as well as the impact on both currencies for 2024.
Group Credit & Collection is responsible for managing and analyzing the credit risk for all new clients before standard payment and delivery terms and conditions are offered. Credit risk arises from cash and cash equivalents, derivative financial instruments and deposits with banks and financial institutions, as well as credit exposures to end customers, including outstanding receivables and contract assets. Risk control assesses the credit quality of the end customers, considering their financial position, past experience and other factors. No collateral is required. Individual risk limits are set based on internal or external ratings in accordance with guidelines set by the Board. The utilization of credit limits is regularly monitored.
There is no concentration of credit risk with respect to trade receivables, as the group has many end customers that are internationally diversified. 37% of trade receivables are covered through credit insurance (prior year: 33%).
The remaining part is not insured for one of the following reasons:
Most changes compared to prior year result from Crayon\u2019s customer portfolio. Refer to Note 11 Trade receivables for information about the credit risk exposure on the group\u2019s trade receivables and contract assets using a provision matrix.
Short-term cash flow forecasting is performed in the operating entities of the group and aggregated by Group Treasury. Group Treasury monitors rolling forecasts of the group\u2019s liquidity requirements to ensure it has sufficient cash to meet operational needs while always maintaining sufficient headroom on its undrawn borrowing facilities (for further details see below).\u00a0Mid-term cash planning is performed by Group Controlling.
The table below analyses the group\u2019s non-derivative financial liabilities according to relevant maturity groupings based on the remaining period from the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows, i.e., undiscounted interest and principal payments:
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cash outflows\n \n | \n |||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cash outflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n \n \n \nOver 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n 3,718.0\n \n | \n \n \n 3,491.3\n \n | \n \n \n 226.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Other payables\n \n | \n \n \n 530.2\n \n | \n \n \n 530.2\n \n | \n \n \n 78.6\n \n | \n \n \n 2.8\n \n | \n \n \n 448.6\n \n | \n \n \n 0.2\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 51.4\n \n | \n \n \n 51.4\n \n | \n \n \n 48.9\n \n | \n \n \n 2.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Financial liabilities1)\n(excluding lease liabilities)\n \n | \n \n \n 792.9\n \n | \n \n \n 815.4\n \n | \n \n \n 203.1\n \n | \n \n \n 68.3\n \n | \n \n \n 544.0\n \n | \n \n \n -\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 74.5\n \n | \n \n \n 84.6\n \n | \n \n \n 6.6\n \n | \n \n \n 18.3\n \n | \n \n \n 50.4\n \n | \n \n \n 9.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 5,167.0\n \n | \n \n \n 5,199.6\n \n | \n \n \n 3,828.5\n \n | \n \n \n 318.6\n \n | \n \n \n 1,043.0\n \n | \n \n \n 9.5\n \n | \n
\n 1)The term loan of CHF 400.0 million matures in July 2029, refer to Note 20 Financial liabilities.\n
\n| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cash outflows\n \n | \n |||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cash outflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n \n \n \nOver 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 2,568.5\n \n | \n \n \n 2,568.5\n \n | \n \n \n 2,427.5\n \n | \n \n \n 141.0\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Other payables\n \n | \n \n \n 297.8\n \n | \n \n \n 297.8\n \n | \n \n \n 25.3\n \n | \n \n \n 1.1\n \n | \n \n \n 271.4\n \n | \n \n \n -\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 37.3\n \n | \n \n \n 37.3\n \n | \n \n \n 14.6\n \n | \n \n \n 22.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Financial liabilities1)\n(excluding lease liabilities)\n \n | \n \n \n 331.9\n \n | \n \n \n 298.6\n \n | \n \n \n 268.7\n \n | \n \n \n 21.3\n \n | \n \n \n 8.6\n \n | \n \n \n -\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 35.6\n \n | \n \n \n 38.6\n \n | \n \n \n 3.3\n \n | \n \n \n 11.8\n \n | \n \n \n 23.2\n \n | \n \n \n 0.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 3,271.1\n \n | \n \n \n 3,240.8\n \n | \n \n \n 2,739.4\n \n | \n \n \n 197.9\n \n | \n \n \n 303.2\n \n | \n \n \n 0.3\n \n | \n
\n 1)Includes a financial liability for a total return swap of CHF 35.9 million.\n
\nAs of December 31, 2025, the group had total committed and uncommitted credit lines (including term loan and factoring) of CHF 2,000.0 million (prior year: CHF 1,168.0 million) available, of which 60% (prior year: 38%) was drawn. Of the drawn amount, CHF 775.0 million\u00a0were subject to financial covenants which were fulfilled as of December 31, 2025\u00a0(prior year: CHF 250.0 million), refer to Note 20 Financial liabilities.
The maturity structure of the derivative financial instruments based on cash flows is as follows:
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cashflows\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cashflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Derivative assets with gross settlement\n \n | \n \n \n 2.4\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 619.5\n \n | \n \n \n 538.7\n \n | \n \n \n 30.7\n \n | \n \n \n 50.1\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 650.1\n \n | \n \n \n 563.5\n \n | \n \n \n 32.2\n \n | \n \n \n 54.4\n \n | \n
| \n \n Derivative liabilities with gross settlement\n \n | \n \n \n 5.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 643.6\n \n | \n \n \n 540.4\n \n | \n \n \n 34.3\n \n | \n \n \n 68.9\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 655.3\n \n | \n \n \n 544.8\n \n | \n \n \n 36.1\n \n | \n \n \n 74.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cashflows\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cashflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Derivative assets with gross settlement1)\n \n | \n \n \n 20.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 773.2\n \n | \n \n \n 709.7\n \n | \n \n \n 34.9\n \n | \n \n \n 28.6\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 782.1\n \n | \n \n \n 715.6\n \n | \n \n \n 36.5\n \n | \n \n \n 30.0\n \n | \n
| \n \n Derivative liabilities with gross settlement\n \n | \n \n \n 3.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 224.3\n \n | \n \n \n 182.5\n \n | \n \n \n 20.5\n \n | \n \n \n 21.3\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 222.5\n \n | \n \n \n 181.2\n \n | \n \n \n 20.2\n \n | \n \n \n 21.1\n \n | \n
\n 1)The carrying amount included the foreign currency call option (fair value: CHF 12.5 million) of the firm commitment to acquire Crayon.\n
\nThe contractual agreement determines whether the contracting parties must fulfil their obligations from derivative financial instruments net or gross.
The group\u2019s objectives when managing capital are to safeguard the group\u2019s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.
In order to maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares.
Capital is measured based on the group\u2019s consolidated financial statements and monitored closely on an ongoing basis. Management\u2019s goal for the period under review was to strengthen the capital base to sustain and support further development of the business.
The equity ratio for the period ended December 31, 2025, and the prior year were as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total equity\n \n | \n \n \n 981.4\n \n | \n \n \n 582.6\n \n | \n
| \n \n Total assets\n \n | \n \n \n 6,789.3\n \n | \n \n \n 4,306.8\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Equity ratio\n \n | \n \n \n 14.5%\n \n | \n \n \n 13.5%\n \n | \n
The equity ratio for 2025 increased compared to the previous year, primarily as a result of the Crayon acquisition and\u00a0newly issued shares totaling CHF 472.0 million, which were part of the Crayon purchase consideration. In this context, the total assets also increased. However, the rise in equity was partially offset by dividend payments and negative currency translation adjustments.
For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The following table discloses the carrying amounts and fair values, as required, of the group\u2019s financial instruments by class and category:
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 419.1\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 3,424.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 531.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 0.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 4,377.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 3,718.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 530.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 51.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 788.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 4.5\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 2.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 3.3\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 74.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 5,172.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nSoftwareOne held listed Crayon shares which were measured at fair value through profit or loss until they were derecognized. Up to the date of the Crayon acquisition, the group recorded a fair value gain of CHF 9.6 million as finance income (prior year: CHF 21.5 million).
In December 2022, the group entered into a total return swap agreement related to listed shares in Crayon. Under the total return swap, SoftwareOne sold the underlying shares for a cash consideration of CHF 42.6 million but remained exposed to changes in the market value of these shares. As a result, the group did not derecognize the financial asset and recorded a financial liability for the receipts from swap contracts. In April 2025, the total return swap agreement was amended, allowing for early termination and physical settlement of the swap. On June 27, 2025, SoftwareOne terminated the agreement and exercised the physical settlement option. The shares were transferred back to SoftwareOne at the inception price of the total return swap. The recorded financial liability for the receipts from swap contracts was settled at CHF 35.7 million, which is presented under investing cashflow (prior year: cash inflow of CHF 10.1 million).
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 271.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 2,616.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 328.6\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 5.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 14.5\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial assets - listed equity instrument\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 62.4\n \n | \n \n \n \n \n | \n \n \n Level 1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 3,298.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 2,568.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 297.8\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 37.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 287.9\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 6.6\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.4\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 35.9\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 1.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 35.6\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 3,274.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nThe carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
No transfers between the hierarchy levels were made in 2025. There was a transfer from level 3 to level 2 in 2024.
The following table discloses valuation classes for financial instruments measured at fair value:
| \n \n \n \n | \n \n \n As of December 31, 2025\n \n | \n \n \n As of December 31, 2024\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Financial assets\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 4.5\n \n | \n \n \n 4.5\n \n | \n \n \n -\n \n | \n \n \n 1.4\n \n | \n \n \n 6.6\n \n | \n \n \n 8.0\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n
The changes in carrying values associated with \u201cLevel 3\u201d contingent consideration liabilities are set out below:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 6.6\n \n | \n \n \n 7.3\n \n | \n
| \n \n Additions\n \n | \n \n \n -\n \n | \n \n \n 6.3\n \n | \n
| \n \n Settlement in cash1)\n \n | \n \n \n \u20131.3\n \n | \n \n \n \u20134.4\n \n | \n
| \n \n Fair value adjustment\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20131.4\n \n | \n
| \n \n Transfer to \u201cLevel 2\u201d\n \n | \n \n \n -\n \n | \n \n \n \u20131.3\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.5\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 4.5\n \n | \n \n \n 6.6\n \n | \n
\n 1)Payments of CHF 1.3 million are presented in cashflow from investing activities in 2025. \n
\nThe contingent consideration liability relates to the acquisition of Medalsoft (fair value as of\u00a0December 31, 2025: CHF 4.5\u00a0million; prior year: CHF 6.3 million). The contingent consideration liability of Medalsoft depends on the achievement of certain fixed events (CHF 2.1\u00a0million, prior year: CHF 2.3 million) and the retention of a key employee (CHF 2.4 million, prior year: CHF 4.0 million). The cash outflows are expected on a yearly basis until 2027. In the event of termination by this key employee, the contingent consideration is reduced.
The remaining contingent consideration of Predica, which was assigned to \u201cLevel 2\u201d in the fair value hierarchy in 2024, was paid in 2025 in the amount of CHF 1.4 million and reported under acquisition of business in investing cash flows.
The group has entered into transactions in which it transfers trade receivables under factoring agreements and, as a result, may either be eligible to derecognize the transferred receivables in their entirety or must continue to recognize the transferred receivables to the extent of any continuing involvement, depending on certain criteria.
Receivables subject to factoring arrangements are derecognized on sale and these assets are not held to collect contractual cash flows and would be measured at fair value through profit or loss. However, due to their short-term nature, the difference between transaction price and fair value is not considered to be material. Where the factored receivables continue to be recognized in the balance sheet, they are treated as held to collect contractual cash flows and are measured at amortized cost.
In 2025, new portfolio factoring programs were established for SoftwareOne Germany and SoftwareOne US. Provided that defined eligibility criteria are met, invoices are sold on a non-recourse basis. The German program has a purchase limit of EUR 150.0 million. The US program includes a limit of USD 115.0 million plus an additional USD 95.0 million for a specific purchase relating to a single obligor. Almost all receivables sold under the portfolio programs are insured against default risks. Receivables subject to these factoring arrangements are derecognized upon sale.
The amount of the receivables sold as of December 31, 2025, is CHF 376.4 million (prior year: CHF 151.6 million). The amount is fully derecognized from the balance sheet. SoftwareOne records liabilities to factoring partners for forwarding incoming payments from customers under other current payables. These amounted to CHF 57.1 million as of December 31, 2025 (prior year: nil).
The group has entered into arrangements that do not meet the criteria for offsetting but still allow for the related amounts to be offset if certain credit events occur (such as a default). The following table shows the amounts which cannot be offset under IFRS, but which could be settled net under the terms of master netting agreements, to show the total net exposure of the group.
| \n \n 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \n\n\nGross amounts\n \n | \n \n \n \nAmounts offset in the consolidated balance sheet\n \n | \n \n \n \nNet amounts presented in the consolidated balance sheet\n \n | \n \n \n Amounts subject to master netting arrangements but not offset\n \n | \n \n \n \n\n\nNet amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 3,394.9\n \n | \n \n \n -\n \n | \n \n \n 3,394.9\n \n | \n \n \n \u201372.8\n \n | \n \n \n 3,322.1\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 203.9\n \n | \n \n \n -\n \n | \n \n \n 203.9\n \n | \n \n \n \u201357.4\n \n | \n \n \n 146.5\n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n -\n \n | \n \n \n 3,718.0\n \n | \n \n \n \u2013130.2\n \n | \n \n \n 3,587.8\n \n | \n
| \n \n Derivative financial assets\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n \u20132.4\n \n | \n \n \n -\n \n | \n
| \n \n Derivative financial liabilities\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n \u20132.4\n \n | \n \n \n 3.5\n \n | \n
| \n \n 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \n\n\nGross amounts\n \n | \n \n \n \nAmounts offset in the consolidated balance sheet\n \n | \n \n \n \nNet amounts presented in the consolidated balance sheet\n \n | \n \n \n Amounts subject to master netting arrangements but not offset\n \n | \n \n \n \n\n\nNet amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 2,616.0\n \n | \n \n \n -\n \n | \n \n \n 2,616.0\n \n | \n \n \n \u201318.7\n \n | \n \n \n 2,597.3\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 122.1\n \n | \n \n \n -\n \n | \n \n \n 122.1\n \n | \n \n \n \u201319.7\n \n | \n \n \n 102.4\n \n | \n
| \n \n Trade payables\n \n | \n \n \n 2,568.5\n \n | \n \n \n -\n \n | \n \n \n 2,568.5\n \n | \n \n \n \u201338.4\n \n | \n \n \n 2,530.1\n \n | \n
| \n \n Derivative financial assets\n \n | \n \n \n 20.2\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n \n \n \u20133.6\n \n | \n \n \n 16.6\n \n | \n
| \n \n Derivative financial liabilities\n \n | \n \n \n 3.5\n \n | \n \n \n -\n \n | \n \n \n 3.5\n \n | \n \n \n \u20133.5\n \n | \n \n \n -\n \n | \n
The group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk), credit risk and liquidity risk. The group\u2019s overall risk management program is focused on mitigating the unpredictability of financial markets and aims to minimize potential adverse effects on the group\u2019s financial performance. To hedge certain risk exposures, the group uses derivative financial instruments, which are measured using standardized mathematical models.
Risk management is carried out by Group Treasury under the Global Treasury Policy approved by the Board of Directors. Group Treasury identifies, evaluates, and hedges financial risks in close cooperation with the group\u2019s operating entities. The Board provides written principles for overall risk management, as well as written policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments and investment of excess liquidity.
The group operates internationally and is exposed to foreign exchange risk arising from various currency exposures. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations.
The group hedges its foreign exchange risk exposure of recognized assets and liabilities and future commercial transactions with derivative contracts. The group reviews the currency exposure regularly and covers its risks in two ways:
There are certain investments in foreign operations whose net assets are exposed to foreign currency translation risk which, as per group policy, is not hedged. Long-term receivables from a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future, are considered a part of the net investment. These differences are recognized in other comprehensive income and accumulated in equity. Translation risk is not considered in the analysis below.
The following table details the group\u2019s sensitivity to the major currencies with all other variables held constant:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||||
| \n \n \nImpact in CHF million\n \n | \n \n \n \nSensitivity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n ||||
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EUR\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.3\n \n | \n \n \n +/\u2013\n \n | \n \n \n 0.1\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n
| \n \n USD\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.7\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.9\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.2\n \n | \n \n \n +/\u2013\n \n | \n \n \n 2.1\n \n | \n
The group\u2019s interest-bearing instruments with variable interest are cash, bank overdrafts, bank loans, a multi-currency revolving credit facility and a term loan facility, see also\u00a0Note 20 Financial liabilities. An interest rate risk exists due to changes in market interest rates. The group has managed the risk of changes in the interest rates based on limits using interest rate derivatives as part of the defined risk strategy. The underlying transactions are designated as cash flow hedges. They are expected to affect profit and loss until August 2029, respectively. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item, and the nature of the risk being hedged. The hedges are expected to be highly effective.
Interest rate swaps are held in CHF and USD. A change in interest rates of +/\u20130.25 basis points with all other variables held constant would have no impact on earnings before income tax for 2025 and 2024. The impact would be recognized in equity through the hedging reserve and would lead to an increase/decrease of CHF 2.7 for CHF in 2025. The impact for USD in 2025 would not be significant as well as the impact on both currencies for 2024.
Group Credit & Collection is responsible for managing and analyzing the credit risk for all new clients before standard payment and delivery terms and conditions are offered. Credit risk arises from cash and cash equivalents, derivative financial instruments and deposits with banks and financial institutions, as well as credit exposures to end customers, including outstanding receivables and contract assets. Risk control assesses the credit quality of the end customers, considering their financial position, past experience and other factors. No collateral is required. Individual risk limits are set based on internal or external ratings in accordance with guidelines set by the Board. The utilization of credit limits is regularly monitored.
There is no concentration of credit risk with respect to trade receivables, as the group has many end customers that are internationally diversified. 37% of trade receivables are covered through credit insurance (prior year: 33%).
The remaining part is not insured for one of the following reasons:
Most changes compared to prior year result from Crayon\u2019s customer portfolio. Refer to Note 11 Trade receivables for information about the credit risk exposure on the group\u2019s trade receivables and contract assets using a provision matrix.
Short-term cash flow forecasting is performed in the operating entities of the group and aggregated by Group Treasury. Group Treasury monitors rolling forecasts of the group\u2019s liquidity requirements to ensure it has sufficient cash to meet operational needs while always maintaining sufficient headroom on its undrawn borrowing facilities (for further details see below).\u00a0Mid-term cash planning is performed by Group Controlling.
The table below analyses the group\u2019s non-derivative financial liabilities according to relevant maturity groupings based on the remaining period from the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows, i.e., undiscounted interest and principal payments:
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cash outflows\n \n | \n |||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cash outflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n \n \n \nOver 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n 3,718.0\n \n | \n \n \n 3,491.3\n \n | \n \n \n 226.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Other payables\n \n | \n \n \n 530.2\n \n | \n \n \n 530.2\n \n | \n \n \n 78.6\n \n | \n \n \n 2.8\n \n | \n \n \n 448.6\n \n | \n \n \n 0.2\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 51.4\n \n | \n \n \n 51.4\n \n | \n \n \n 48.9\n \n | \n \n \n 2.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Financial liabilities1)\n(excluding lease liabilities)\n \n | \n \n \n 792.9\n \n | \n \n \n 815.4\n \n | \n \n \n 203.1\n \n | \n \n \n 68.3\n \n | \n \n \n 544.0\n \n | \n \n \n -\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 74.5\n \n | \n \n \n 84.6\n \n | \n \n \n 6.6\n \n | \n \n \n 18.3\n \n | \n \n \n 50.4\n \n | \n \n \n 9.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 5,167.0\n \n | \n \n \n 5,199.6\n \n | \n \n \n 3,828.5\n \n | \n \n \n 318.6\n \n | \n \n \n 1,043.0\n \n | \n \n \n 9.5\n \n | \n
\n 1)The term loan of CHF 400.0 million matures in July 2029, refer to Note 20 Financial liabilities.\n
\n| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cash outflows\n \n | \n |||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cash outflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n \n \n \nOver 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 2,568.5\n \n | \n \n \n 2,568.5\n \n | \n \n \n 2,427.5\n \n | \n \n \n 141.0\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Other payables\n \n | \n \n \n 297.8\n \n | \n \n \n 297.8\n \n | \n \n \n 25.3\n \n | \n \n \n 1.1\n \n | \n \n \n 271.4\n \n | \n \n \n -\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 37.3\n \n | \n \n \n 37.3\n \n | \n \n \n 14.6\n \n | \n \n \n 22.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Financial liabilities1)\n(excluding lease liabilities)\n \n | \n \n \n 331.9\n \n | \n \n \n 298.6\n \n | \n \n \n 268.7\n \n | \n \n \n 21.3\n \n | \n \n \n 8.6\n \n | \n \n \n -\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 35.6\n \n | \n \n \n 38.6\n \n | \n \n \n 3.3\n \n | \n \n \n 11.8\n \n | \n \n \n 23.2\n \n | \n \n \n 0.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 3,271.1\n \n | \n \n \n 3,240.8\n \n | \n \n \n 2,739.4\n \n | \n \n \n 197.9\n \n | \n \n \n 303.2\n \n | \n \n \n 0.3\n \n | \n
\n 1)Includes a financial liability for a total return swap of CHF 35.9 million.\n
\nAs of December 31, 2025, the group had total committed and uncommitted credit lines (including term loan and factoring) of CHF 2,000.0 million (prior year: CHF 1,168.0 million) available, of which 60% (prior year: 38%) was drawn. Of the drawn amount, CHF 775.0 million\u00a0were subject to financial covenants which were fulfilled as of December 31, 2025\u00a0(prior year: CHF 250.0 million), refer to Note 20 Financial liabilities.
The maturity structure of the derivative financial instruments based on cash flows is as follows:
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cashflows\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cashflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Derivative assets with gross settlement\n \n | \n \n \n 2.4\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 619.5\n \n | \n \n \n 538.7\n \n | \n \n \n 30.7\n \n | \n \n \n 50.1\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 650.1\n \n | \n \n \n 563.5\n \n | \n \n \n 32.2\n \n | \n \n \n 54.4\n \n | \n
| \n \n Derivative liabilities with gross settlement\n \n | \n \n \n 5.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 643.6\n \n | \n \n \n 540.4\n \n | \n \n \n 34.3\n \n | \n \n \n 68.9\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 655.3\n \n | \n \n \n 544.8\n \n | \n \n \n 36.1\n \n | \n \n \n 74.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cashflows\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cashflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Derivative assets with gross settlement1)\n \n | \n \n \n 20.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 773.2\n \n | \n \n \n 709.7\n \n | \n \n \n 34.9\n \n | \n \n \n 28.6\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 782.1\n \n | \n \n \n 715.6\n \n | \n \n \n 36.5\n \n | \n \n \n 30.0\n \n | \n
| \n \n Derivative liabilities with gross settlement\n \n | \n \n \n 3.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 224.3\n \n | \n \n \n 182.5\n \n | \n \n \n 20.5\n \n | \n \n \n 21.3\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 222.5\n \n | \n \n \n 181.2\n \n | \n \n \n 20.2\n \n | \n \n \n 21.1\n \n | \n
\n 1)The carrying amount included the foreign currency call option (fair value: CHF 12.5 million) of the firm commitment to acquire Crayon.\n
\nThe contractual agreement determines whether the contracting parties must fulfil their obligations from derivative financial instruments net or gross.
The group\u2019s objectives when managing capital are to safeguard the group\u2019s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.
In order to maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares.
Capital is measured based on the group\u2019s consolidated financial statements and monitored closely on an ongoing basis. Management\u2019s goal for the period under review was to strengthen the capital base to sustain and support further development of the business.
The equity ratio for the period ended December 31, 2025, and the prior year were as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total equity\n \n | \n \n \n 981.4\n \n | \n \n \n 582.6\n \n | \n
| \n \n Total assets\n \n | \n \n \n 6,789.3\n \n | \n \n \n 4,306.8\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Equity ratio\n \n | \n \n \n 14.5%\n \n | \n \n \n 13.5%\n \n | \n
The equity ratio for 2025 increased compared to the previous year, primarily as a result of the Crayon acquisition and\u00a0newly issued shares totaling CHF 472.0 million, which were part of the Crayon purchase consideration. In this context, the total assets also increased. However, the rise in equity was partially offset by dividend payments and negative currency translation adjustments.
For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The following table discloses the carrying amounts and fair values, as required, of the group\u2019s financial instruments by class and category:
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 419.1\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 3,424.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 531.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 0.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 4,377.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 3,718.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 530.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 51.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 788.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 4.5\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 2.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 3.3\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 74.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 5,172.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nSoftwareOne held listed Crayon shares which were measured at fair value through profit or loss until they were derecognized. Up to the date of the Crayon acquisition, the group recorded a fair value gain of CHF 9.6 million as finance income (prior year: CHF 21.5 million).
In December 2022, the group entered into a total return swap agreement related to listed shares in Crayon. Under the total return swap, SoftwareOne sold the underlying shares for a cash consideration of CHF 42.6 million but remained exposed to changes in the market value of these shares. As a result, the group did not derecognize the financial asset and recorded a financial liability for the receipts from swap contracts. In April 2025, the total return swap agreement was amended, allowing for early termination and physical settlement of the swap. On June 27, 2025, SoftwareOne terminated the agreement and exercised the physical settlement option. The shares were transferred back to SoftwareOne at the inception price of the total return swap. The recorded financial liability for the receipts from swap contracts was settled at CHF 35.7 million, which is presented under investing cashflow (prior year: cash inflow of CHF 10.1 million).
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 271.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 2,616.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 328.6\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 5.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 14.5\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial assets - listed equity instrument\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 62.4\n \n | \n \n \n \n \n | \n \n \n Level 1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 3,298.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 2,568.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 297.8\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 37.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 287.9\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 6.6\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.4\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 35.9\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 1.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 35.6\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 3,274.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nThe carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
No transfers between the hierarchy levels were made in 2025. There was a transfer from level 3 to level 2 in 2024.
The following table discloses valuation classes for financial instruments measured at fair value:
| \n \n \n \n | \n \n \n As of December 31, 2025\n \n | \n \n \n As of December 31, 2024\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Financial assets\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 4.5\n \n | \n \n \n 4.5\n \n | \n \n \n -\n \n | \n \n \n 1.4\n \n | \n \n \n 6.6\n \n | \n \n \n 8.0\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n
The changes in carrying values associated with \u201cLevel 3\u201d contingent consideration liabilities are set out below:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 6.6\n \n | \n \n \n 7.3\n \n | \n
| \n \n Additions\n \n | \n \n \n -\n \n | \n \n \n 6.3\n \n | \n
| \n \n Settlement in cash1)\n \n | \n \n \n \u20131.3\n \n | \n \n \n \u20134.4\n \n | \n
| \n \n Fair value adjustment\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20131.4\n \n | \n
| \n \n Transfer to \u201cLevel 2\u201d\n \n | \n \n \n -\n \n | \n \n \n \u20131.3\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.5\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 4.5\n \n | \n \n \n 6.6\n \n | \n
\n 1)Payments of CHF 1.3 million are presented in cashflow from investing activities in 2025. \n
\nThe contingent consideration liability relates to the acquisition of Medalsoft (fair value as of\u00a0December 31, 2025: CHF 4.5\u00a0million; prior year: CHF 6.3 million). The contingent consideration liability of Medalsoft depends on the achievement of certain fixed events (CHF 2.1\u00a0million, prior year: CHF 2.3 million) and the retention of a key employee (CHF 2.4 million, prior year: CHF 4.0 million). The cash outflows are expected on a yearly basis until 2027. In the event of termination by this key employee, the contingent consideration is reduced.
The remaining contingent consideration of Predica, which was assigned to \u201cLevel 2\u201d in the fair value hierarchy in 2024, was paid in 2025 in the amount of CHF 1.4 million and reported under acquisition of business in investing cash flows.
The group has entered into transactions in which it transfers trade receivables under factoring agreements and, as a result, may either be eligible to derecognize the transferred receivables in their entirety or must continue to recognize the transferred receivables to the extent of any continuing involvement, depending on certain criteria.
Receivables subject to factoring arrangements are derecognized on sale and these assets are not held to collect contractual cash flows and would be measured at fair value through profit or loss. However, due to their short-term nature, the difference between transaction price and fair value is not considered to be material. Where the factored receivables continue to be recognized in the balance sheet, they are treated as held to collect contractual cash flows and are measured at amortized cost.
In 2025, new portfolio factoring programs were established for SoftwareOne Germany and SoftwareOne US. Provided that defined eligibility criteria are met, invoices are sold on a non-recourse basis. The German program has a purchase limit of EUR 150.0 million. The US program includes a limit of USD 115.0 million plus an additional USD 95.0 million for a specific purchase relating to a single obligor. Almost all receivables sold under the portfolio programs are insured against default risks. Receivables subject to these factoring arrangements are derecognized upon sale.
The amount of the receivables sold as of December 31, 2025, is CHF 376.4 million (prior year: CHF 151.6 million). The amount is fully derecognized from the balance sheet. SoftwareOne records liabilities to factoring partners for forwarding incoming payments from customers under other current payables. These amounted to CHF 57.1 million as of December 31, 2025 (prior year: nil).
The group has entered into arrangements that do not meet the criteria for offsetting but still allow for the related amounts to be offset if certain credit events occur (such as a default). The following table shows the amounts which cannot be offset under IFRS, but which could be settled net under the terms of master netting agreements, to show the total net exposure of the group.
| \n \n 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \n\n\nGross amounts\n \n | \n \n \n \nAmounts offset in the consolidated balance sheet\n \n | \n \n \n \nNet amounts presented in the consolidated balance sheet\n \n | \n \n \n Amounts subject to master netting arrangements but not offset\n \n | \n \n \n \n\n\nNet amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 3,394.9\n \n | \n \n \n -\n \n | \n \n \n 3,394.9\n \n | \n \n \n \u201372.8\n \n | \n \n \n 3,322.1\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 203.9\n \n | \n \n \n -\n \n | \n \n \n 203.9\n \n | \n \n \n \u201357.4\n \n | \n \n \n 146.5\n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n -\n \n | \n \n \n 3,718.0\n \n | \n \n \n \u2013130.2\n \n | \n \n \n 3,587.8\n \n | \n
| \n \n Derivative financial assets\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n \u20132.4\n \n | \n \n \n -\n \n | \n
| \n \n Derivative financial liabilities\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n \u20132.4\n \n | \n \n \n 3.5\n \n | \n
| \n \n 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \n\n\nGross amounts\n \n | \n \n \n \nAmounts offset in the consolidated balance sheet\n \n | \n \n \n \nNet amounts presented in the consolidated balance sheet\n \n | \n \n \n Amounts subject to master netting arrangements but not offset\n \n | \n \n \n \n\n\nNet amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 2,616.0\n \n | \n \n \n -\n \n | \n \n \n 2,616.0\n \n | \n \n \n \u201318.7\n \n | \n \n \n 2,597.3\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 122.1\n \n | \n \n \n -\n \n | \n \n \n 122.1\n \n | \n \n \n \u201319.7\n \n | \n \n \n 102.4\n \n | \n
| \n \n Trade payables\n \n | \n \n \n 2,568.5\n \n | \n \n \n -\n \n | \n \n \n 2,568.5\n \n | \n \n \n \u201338.4\n \n | \n \n \n 2,530.1\n \n | \n
| \n \n Derivative financial assets\n \n | \n \n \n 20.2\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n \n \n \u20133.6\n \n | \n \n \n 16.6\n \n | \n
| \n \n Derivative financial liabilities\n \n | \n \n \n 3.5\n \n | \n \n \n -\n \n | \n \n \n 3.5\n \n | \n \n \n \u20133.5\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n \nNotional amount\n \n | \n \n \n \nNotional amount\n \n | \n \n \n Derivative\nfinancial assets\n \n | \n \n \n Derivative\nfinancial liabilities\n \n | \n \n \n Derivative\nfinancial assets\n \n | \n \n \n Derivative\nfinancial liabilities\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Forward foreign exchange\ncontracts\n \n | \n \n \n 1,178.7\n \n | \n \n \n 1,599.1\n \n | \n \n \n 1.9\n \n | \n \n \n 4.2\n \n | \n \n \n 19.5\n \n | \n \n \n 2.3\n \n | \n
| \n \n \u2013 cash flow hedges \nrecognized in OCI\n \n | \n \n \n 78.5\n \n | \n \n \n 641.4\n \n | \n \n \n 0.3\n \n | \n \n \n 1.8\n \n | \n \n \n 1.3\n \n | \n \n \n 0.5\n \n | \n
| \n \n \u2013 not designated as hedging\ninstruments\n \n | \n \n \n 1,100.0\n \n | \n \n \n 957.7\n \n | \n \n \n 1.6\n \n | \n \n \n 2.4\n \n | \n \n \n 5.7\n \n | \n \n \n 1.8\n \n | \n
| \n \n Foreign exchange\ncall options\n \n | \n \n \n -\n \n | \n \n \n 576.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 12.5\n \n | \n \n \n -\n \n | \n
| \n \n \u2013 cash flow hedges \nrecognized in OCI\n \n | \n \n \n -\n \n | \n \n \n 576.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 12.5\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Non-current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Forward foreign exchange\ncontracts\n \n | \n \n \n 115.0\n \n | \n \n \n 50.4\n \n | \n \n \n 0.3\n \n | \n \n \n 1.4\n \n | \n \n \n 0.7\n \n | \n \n \n 0.4\n \n | \n
| \n \n \u2013 cash flow hedges \nrecognized in OCI\n \n | \n \n \n 111.6\n \n | \n \n \n 48.7\n \n | \n \n \n 0.3\n \n | \n \n \n 1.2\n \n | \n \n \n 0.7\n \n | \n \n \n 0.4\n \n | \n
| \n \n \u2013 not designated as hedging\ninstruments\n \n | \n \n \n 3.4\n \n | \n \n \n 1.7\n \n | \n \n \n -\n \n | \n \n \n 0.2\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Interest rate swaps\n \n | \n \n \n 388.0\n \n | \n \n \n 96.2\n \n | \n \n \n 0.2\n \n | \n \n \n 0.3\n \n | \n \n \n -\n \n | \n \n \n 0.8\n \n | \n
| \n \n \u2013 cash flow hedges \nrecognized in OCI\n \n | \n \n \n 388.0\n \n | \n \n \n 96.2\n \n | \n \n \n 0.2\n \n | \n \n \n 0.3\n \n | \n \n \n -\n \n | \n \n \n 0.8\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total derivatives\n \n | \n \n \n 1,293.7\n \n | \n \n \n 1,649.5\n \n | \n \n \n 2.4\n \n | \n \n \n 5.9\n \n | \n \n \n 20.2\n \n | \n \n \n 3.5\n \n | \n
In 2025 and 2024, the ineffectiveness was immaterial.
In 2024, SoftwareOne entered into a foreign currency call option at a fair value at inception of CHF 13.5 million to hedge foreign currency risks relating to NOK 7.2 billion in connection with the purchase price for the acquisition of Crayon. The option was designated as a cash flow hedge. At the beginning of June 2025, SoftwareOne restructured the hedging instrument into a plain vanilla currency swap. The option\u2019s fair value of CHF 14.2 million was offset against the recorded financial liability for the option premium, which amounted to CHF 13.5 million. The resulting cash inflow of CHF 0.7 million is reported under acquisition of businesses in cashflow from investing activities. The corresponding amount accumulated in OCI was reclassified from the hedging reserve to the consideration for the net assets acquired together with the effects of the plain vanilla currency swap that SoftwareOne had entered into in June 2025, refer to Note 3 Change in the scope of consolidation.
In prior year, the group recognized unrealized losses in the amount of CHF \u20131.0 million and tax effect of CHF 0.2 million in OCI during the period.
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n -\n \n | \n \n \n 4.8\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 1.9\n \n | \n \n \n 3.1\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 22.3\n \n | \n \n \n 14.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 260.4\n \n | \n \n \n 316.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total current financial liabilities\n \n | \n \n \n 284.6\n \n | \n \n \n 338.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Non-current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 2.6\n \n | \n \n \n 5.0\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 52.2\n \n | \n \n \n 21.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 528.0\n \n | \n \n \n 3.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total non-current financial liabilities\n \n | \n \n \n 582.8\n \n | \n \n \n 29.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n 867.4\n \n | \n \n \n 367.5\n \n | \n
In July 2025, the group entered into a new financing agreement comprising an amendment and restatement of a multi-currency revolving credit facility (RCF) in the total amount of CHF 660.0 million, and a CHF term loan facility of CHF 600.0 million. Upon closing of the new agreement, the previous RCF was terminated and repaid. Both facilities mature in July 2029 and include one extension option, subject to approval by the lending banks after the second year. The RCF bears interest at a starting margin of 210 basis points, which may vary between 100 and 210 basis points depending on the group\u2019s leverage ratio and the currency drawn, with interest periods ranging from one week to three months. As of December 31, 2025, CHF 100.0 million of the RCF has been drawn (prior year: CHF 250.0 million). The term loan bears interest at a base rate plus a margin starting at 245 basis points, ranging from 135 to 245 basis points, available with interest periods between three and six months. Annual repayments for the term loan total CHF 50.0 million, payable bi-annually, beginning December 31, 2025, with any balance due at maturity or the extended maturity date. As of December 31, 2025, the carrying amount is CHF 575.0 million, with CHF 525.0 million classified as non-current other financial liabilities.
Both facilities are subject to the loan covenant leverage ratio. The leverage ratio is calculated as net debt including leases divided by earnings before net financial items, taxes, depreciation and amortization plus agreed adjustments and must remain below 3.5x on the dates which the leverage ratio is tested. The leverage ratio was below 1.50 as of December 31, 2025. A potential breach of covenant triggers measures which are standard in such circumstances. Under the agreements, the covenant is tested semi-annually on June 30, and December 31, each year and reported to lending banks to ensure compliance with the agreement. For the RCF existing in 2024, the leverage ratio was 0.76 as of December 31, 2024. The group complied with the covenant in 2025 and 2024.
For the purpose of financing the Crayon transaction, SoftwareOne entered into bridge facilities of CHF 700.0 million in January 2025, refer to Note 3 Change in the scope of consolidation. The bridge facilities were structured with an initial tenor of nine months and included two extension options. The first extension option was exercised in October 2025, thereby extending the maturity to January 31, 2026. The bridge facility includes covenants that are consistent with those defined in the credit facility agreement.\u00a0As of December 31, 2025, CHF 100.0 million bridge facility has been drawn. The bridge facility was repaid completely on due date.
\n The contingent consideration liability reflects the fair value of the expected payments. These estimates are reviewed at each reporting date and adjusted as necessary. Adjustments are booked in finance income or expenses. For further information, refer to explanation of \u201cLevel 3\u201d financial instruments in Note 4.3 Categories of financial instruments and fair value estimation.
| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2025\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2025\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 4.8\n \n | \n \n \n -\n \n | \n \n \n \u20134.8\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 8.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u20130.4\n \n | \n \n \n 4.5\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 35.6\n \n | \n \n \n 39.2\n \n | \n \n \n \u201322.7\n \n | \n \n \n -\n \n | \n \n \n \u20132.5\n \n | \n \n \n 24.9\n \n | \n \n \n 74.5\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 316.0\n \n | \n \n \n 117.3\n \n | \n \n \n \u2013122.9\n \n | \n \n \n \u201335.7\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201312.3\n \n | \n \n \n 260.4\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.0\n \n | \n \n \n -\n \n | \n \n \n 525.0\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n \u20130.1\n \n | \n \n \n 528.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 367.5\n \n | \n \n \n 156.5\n \n | \n \n \n 374.6\n \n | \n \n \n \u201338.4\n \n | \n \n \n \u20134.9\n \n | \n \n \n 12.1\n \n | \n \n \n 867.4\n \n | \n
Following the physical settlement of the total return swap contract, the financial liability recorded for the receipts on swap contracts was settled at CHF 35.7 million which is presented under investing cashflow, refer to Note 4.3 Categories of financial instruments and fair value estimation.
Further effects in \u201cOther\u201d columns are related to additions, disposals and compounding of lease liabilities (CHF 24.9 million), the settlement of the foreign currency call option (CHF \u201313.5 million) and, to a limited extent, accrued interest.
| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2024\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 0.4\n \n | \n \n \n -\n \n | \n \n \n 4.5\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n -\n \n | \n \n \n 4.8\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 7.4\n \n | \n \n \n -\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u20133.2\n \n | \n \n \n 0.1\n \n | \n \n \n 5.0\n \n | \n \n \n 8.1\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 32.8\n \n | \n \n \n 0.2\n \n | \n \n \n \u201317.0\n \n | \n \n \n -\n \n | \n \n \n 0.4\n \n | \n \n \n 19.2\n \n | \n \n \n 35.6\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 121.2\n \n | \n \n \n -\n \n | \n \n \n 178.4\n \n | \n \n \n 8.8\n \n | \n \n \n \u20136.0\n \n | \n \n \n 13.6\n \n | \n \n \n 316.0\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.4\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20130.2\n \n | \n \n \n 3.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 165.2\n \n | \n \n \n 0.2\n \n | \n \n \n 164.7\n \n | \n \n \n 5.6\n \n | \n \n \n \u20135.8\n \n | \n \n \n 37.6\n \n | \n \n \n 367.5\n \n | \n
In prior year, further effects in \u201cOther\u201d column were related to additions, disposals and compounding of lease liabilities (CHF 19.2 million), the initial recognition of the contingent consideration liability for Medalsoft (CHF 6.3 million), the recognition of the foreign currency call option (CHF 13.5 million) and, to a limited extent, accrued interest.
In the statement of cash flows the change in financial liabilities is presented on a gross basis.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-3": { "value": "The group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk), credit risk and liquidity risk. The group\u2019s overall risk management program is focused on mitigating the unpredictability of financial markets and aims to minimize potential adverse effects on the group\u2019s financial performance. To hedge certain risk exposures, the group uses derivative financial instruments, which are measured using standardized mathematical models.
Risk management is carried out by Group Treasury under the Global Treasury Policy approved by the Board of Directors. Group Treasury identifies, evaluates, and hedges financial risks in close cooperation with the group\u2019s operating entities. The Board provides written principles for overall risk management, as well as written policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments and investment of excess liquidity.
The group operates internationally and is exposed to foreign exchange risk arising from various currency exposures. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations.
The group hedges its foreign exchange risk exposure of recognized assets and liabilities and future commercial transactions with derivative contracts. The group reviews the currency exposure regularly and covers its risks in two ways:
The group hedges the net exposure from foreign currency balance sheet positions with forward contracts. Such contracts, however, are not accounted for using hedge accounting.Highly probable future transactions\u00a0(sales and purchase) are hedged with forward transactions. These contracts are designated as cash flow hedges. The transactions are expected to affect profit and loss within the next 36 months. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item and the nature of the risk being hedged. The hedges are expected to be highly effective.There are certain investments in foreign operations whose net assets are exposed to foreign currency translation risk which, as per group policy, is not hedged. Long-term receivables from a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future, are considered a part of the net investment. These differences are recognized in other comprehensive income and accumulated in equity. Translation risk is not considered in the analysis below.
The following table details the group\u2019s sensitivity to the major currencies with all other variables held constant:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||||
| \n \n \nImpact in CHF million\n \n | \n \n \n \nSensitivity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n ||||
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EUR\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.3\n \n | \n \n \n +/\u2013\n \n | \n \n \n 0.1\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n
| \n \n USD\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.7\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.9\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.2\n \n | \n \n \n +/\u2013\n \n | \n \n \n 2.1\n \n | \n
The group\u2019s interest-bearing instruments with variable interest are cash, bank overdrafts, bank loans, a multi-currency revolving credit facility and a term loan facility, see also\u00a0Note 20 Financial liabilities. An interest rate risk exists due to changes in market interest rates. The group has managed the risk of changes in the interest rates based on limits using interest rate derivatives as part of the defined risk strategy. The underlying transactions are designated as cash flow hedges. They are expected to affect profit and loss until August 2029, respectively. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item, and the nature of the risk being hedged. The hedges are expected to be highly effective.
Interest rate swaps are held in CHF and USD. A change in interest rates of +/\u20130.25 basis points with all other variables held constant would have no impact on earnings before income tax for 2025 and 2024. The impact would be recognized in equity through the hedging reserve and would lead to an increase/decrease of CHF 2.7 for CHF in 2025. The impact for USD in 2025 would not be significant as well as the impact on both currencies for 2024.
For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-4": { "value": "The group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk), credit risk and liquidity risk. The group\u2019s overall risk management program is focused on mitigating the unpredictability of financial markets and aims to minimize potential adverse effects on the group\u2019s financial performance. To hedge certain risk exposures, the group uses derivative financial instruments, which are measured using standardized mathematical models.
Risk management is carried out by Group Treasury under the Global Treasury Policy approved by the Board of Directors. Group Treasury identifies, evaluates, and hedges financial risks in close cooperation with the group\u2019s operating entities. The Board provides written principles for overall risk management, as well as written policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments and investment of excess liquidity.
For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-5": { "value": "The group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk), credit risk and liquidity risk. The group\u2019s overall risk management program is focused on mitigating the unpredictability of financial markets and aims to minimize potential adverse effects on the group\u2019s financial performance. To hedge certain risk exposures, the group uses derivative financial instruments, which are measured using standardized mathematical models.
Risk management is carried out by Group Treasury under the Global Treasury Policy approved by the Board of Directors. Group Treasury identifies, evaluates, and hedges financial risks in close cooperation with the group\u2019s operating entities. The Board provides written principles for overall risk management, as well as written policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments and investment of excess liquidity.
The group operates internationally and is exposed to foreign exchange risk arising from various currency exposures. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations.
The group hedges its foreign exchange risk exposure of recognized assets and liabilities and future commercial transactions with derivative contracts. The group reviews the currency exposure regularly and covers its risks in two ways:
The group hedges the net exposure from foreign currency balance sheet positions with forward contracts. Such contracts, however, are not accounted for using hedge accounting.Highly probable future transactions\u00a0(sales and purchase) are hedged with forward transactions. These contracts are designated as cash flow hedges. The transactions are expected to affect profit and loss within the next 36 months. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item and the nature of the risk being hedged. The hedges are expected to be highly effective.There are certain investments in foreign operations whose net assets are exposed to foreign currency translation risk which, as per group policy, is not hedged. Long-term receivables from a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future, are considered a part of the net investment. These differences are recognized in other comprehensive income and accumulated in equity. Translation risk is not considered in the analysis below.
The following table details the group\u2019s sensitivity to the major currencies with all other variables held constant:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||||
| \n \n \nImpact in CHF million\n \n | \n \n \n \nSensitivity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n ||||
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EUR\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.3\n \n | \n \n \n +/\u2013\n \n | \n \n \n 0.1\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n
| \n \n USD\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.7\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.9\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.2\n \n | \n \n \n +/\u2013\n \n | \n \n \n 2.1\n \n | \n
The group\u2019s interest-bearing instruments with variable interest are cash, bank overdrafts, bank loans, a multi-currency revolving credit facility and a term loan facility, see also\u00a0Note 20 Financial liabilities. An interest rate risk exists due to changes in market interest rates. The group has managed the risk of changes in the interest rates based on limits using interest rate derivatives as part of the defined risk strategy. The underlying transactions are designated as cash flow hedges. They are expected to affect profit and loss until August 2029, respectively. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item, and the nature of the risk being hedged. The hedges are expected to be highly effective.
Interest rate swaps are held in CHF and USD. A change in interest rates of +/\u20130.25 basis points with all other variables held constant would have no impact on earnings before income tax for 2025 and 2024. The impact would be recognized in equity through the hedging reserve and would lead to an increase/decrease of CHF 2.7 for CHF in 2025. The impact for USD in 2025 would not be significant as well as the impact on both currencies for 2024.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-6": { "value": "The group operates internationally and is exposed to foreign exchange risk arising from various currency exposures. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations.
The group hedges its foreign exchange risk exposure of recognized assets and liabilities and future commercial transactions with derivative contracts. The group reviews the currency exposure regularly and covers its risks in two ways:
The group hedges the net exposure from foreign currency balance sheet positions with forward contracts. Such contracts, however, are not accounted for using hedge accounting.Highly probable future transactions\u00a0(sales and purchase) are hedged with forward transactions. These contracts are designated as cash flow hedges. The transactions are expected to affect profit and loss within the next 36 months. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item and the nature of the risk being hedged. The hedges are expected to be highly effective.There are certain investments in foreign operations whose net assets are exposed to foreign currency translation risk which, as per group policy, is not hedged. Long-term receivables from a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future, are considered a part of the net investment. These differences are recognized in other comprehensive income and accumulated in equity. Translation risk is not considered in the analysis below.
The following table details the group\u2019s sensitivity to the major currencies with all other variables held constant:
| \n \n \n \n | \n \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||||
| \n \n \nImpact in CHF million\n \n | \n \n \n \nSensitivity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n \n \n Earnings before\nincome tax\n \n | \n \n \n \nEquity\n \n | \n ||||
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EUR\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.3\n \n | \n \n \n +/\u2013\n \n | \n \n \n 0.1\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.5\n \n | \n
| \n \n USD\n \n | \n \n \n +/\u2013 5%\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.7\n \n | \n \n \n +/\u2013\n \n | \n \n \n 4.9\n \n | \n \n \n +/\u2013\n \n | \n \n \n 1.2\n \n | \n \n \n +/\u2013\n \n | \n \n \n 2.1\n \n | \n
The group\u2019s interest-bearing instruments with variable interest are cash, bank overdrafts, bank loans, a multi-currency revolving credit facility and a term loan facility, see also\u00a0Note 20 Financial liabilities. An interest rate risk exists due to changes in market interest rates. The group has managed the risk of changes in the interest rates based on limits using interest rate derivatives as part of the defined risk strategy. The underlying transactions are designated as cash flow hedges. They are expected to affect profit and loss until August 2029, respectively. At inception of a hedge relationship, the group designates and documents the hedge relationship to apply hedge accounting. The hedge relationship includes the hedging instrument, the hedged item, and the nature of the risk being hedged. The hedges are expected to be highly effective.
Interest rate swaps are held in CHF and USD. A change in interest rates of +/\u20130.25 basis points with all other variables held constant would have no impact on earnings before income tax for 2025 and 2024. The impact would be recognized in equity through the hedging reserve and would lead to an increase/decrease of CHF 2.7 for CHF in 2025. The impact for USD in 2025 would not be significant as well as the impact on both currencies for 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-7": { "value": "Group Credit & Collection is responsible for managing and analyzing the credit risk for all new clients before standard payment and delivery terms and conditions are offered. Credit risk arises from cash and cash equivalents, derivative financial instruments and deposits with banks and financial institutions, as well as credit exposures to end customers, including outstanding receivables and contract assets. Risk control assesses the credit quality of the end customers, considering their financial position, past experience and other factors. No collateral is required. Individual risk limits are set based on internal or external ratings in accordance with guidelines set by the Board. The utilization of credit limits is regularly monitored.
There is no concentration of credit risk with respect to trade receivables, as the group has many end customers that are internationally diversified. 37% of trade receivables are covered through credit insurance (prior year: 33%).
The remaining part is not insured for one of the following reasons:
From end customers with top ratings (based on internal and credit insurance assessment): 26%\u00a0(prior year: 63%)Too small to be insured: 2% (prior year: 1%)No insurance available: 35%\u00a0(prior year: 3%)Most changes compared to prior year result from Crayon\u2019s customer portfolio. Refer to Note 11 Trade receivables for information about the credit risk exposure on the group\u2019s trade receivables and contract assets using a provision matrix.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-8": { "value": "Short-term cash flow forecasting is performed in the operating entities of the group and aggregated by Group Treasury. Group Treasury monitors rolling forecasts of the group\u2019s liquidity requirements to ensure it has sufficient cash to meet operational needs while always maintaining sufficient headroom on its undrawn borrowing facilities (for further details see below).\u00a0Mid-term cash planning is performed by Group Controlling.
The table below analyses the group\u2019s non-derivative financial liabilities according to relevant maturity groupings based on the remaining period from the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows, i.e., undiscounted interest and principal payments:
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cash outflows\n \n | \n |||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cash outflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n \n \n \nOver 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n 3,718.0\n \n | \n \n \n 3,491.3\n \n | \n \n \n 226.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Other payables\n \n | \n \n \n 530.2\n \n | \n \n \n 530.2\n \n | \n \n \n 78.6\n \n | \n \n \n 2.8\n \n | \n \n \n 448.6\n \n | \n \n \n 0.2\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 51.4\n \n | \n \n \n 51.4\n \n | \n \n \n 48.9\n \n | \n \n \n 2.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Financial liabilities1)\n(excluding lease liabilities)\n \n | \n \n \n 792.9\n \n | \n \n \n 815.4\n \n | \n \n \n 203.1\n \n | \n \n \n 68.3\n \n | \n \n \n 544.0\n \n | \n \n \n -\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 74.5\n \n | \n \n \n 84.6\n \n | \n \n \n 6.6\n \n | \n \n \n 18.3\n \n | \n \n \n 50.4\n \n | \n \n \n 9.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 5,167.0\n \n | \n \n \n 5,199.6\n \n | \n \n \n 3,828.5\n \n | \n \n \n 318.6\n \n | \n \n \n 1,043.0\n \n | \n \n \n 9.5\n \n | \n
\n 1)The term loan of CHF 400.0 million matures in July 2029, refer to Note 20 Financial liabilities.\n
\n| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cash outflows\n \n | \n |||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cash outflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n \n \n \nOver 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 2,568.5\n \n | \n \n \n 2,568.5\n \n | \n \n \n 2,427.5\n \n | \n \n \n 141.0\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Other payables\n \n | \n \n \n 297.8\n \n | \n \n \n 297.8\n \n | \n \n \n 25.3\n \n | \n \n \n 1.1\n \n | \n \n \n 271.4\n \n | \n \n \n -\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 37.3\n \n | \n \n \n 37.3\n \n | \n \n \n 14.6\n \n | \n \n \n 22.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Financial liabilities1)\n(excluding lease liabilities)\n \n | \n \n \n 331.9\n \n | \n \n \n 298.6\n \n | \n \n \n 268.7\n \n | \n \n \n 21.3\n \n | \n \n \n 8.6\n \n | \n \n \n -\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 35.6\n \n | \n \n \n 38.6\n \n | \n \n \n 3.3\n \n | \n \n \n 11.8\n \n | \n \n \n 23.2\n \n | \n \n \n 0.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 3,271.1\n \n | \n \n \n 3,240.8\n \n | \n \n \n 2,739.4\n \n | \n \n \n 197.9\n \n | \n \n \n 303.2\n \n | \n \n \n 0.3\n \n | \n
\n 1)Includes a financial liability for a total return swap of CHF 35.9 million.\n
\nAs of December 31, 2025, the group had total committed and uncommitted credit lines (including term loan and factoring) of CHF 2,000.0 million (prior year: CHF 1,168.0 million) available, of which 60% (prior year: 38%) was drawn. Of the drawn amount, CHF 775.0 million\u00a0were subject to financial covenants which were fulfilled as of December 31, 2025\u00a0(prior year: CHF 250.0 million), refer to Note 20 Financial liabilities.
The maturity structure of the derivative financial instruments based on cash flows is as follows:
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cashflows\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cashflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Derivative assets with gross settlement\n \n | \n \n \n 2.4\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 619.5\n \n | \n \n \n 538.7\n \n | \n \n \n 30.7\n \n | \n \n \n 50.1\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 650.1\n \n | \n \n \n 563.5\n \n | \n \n \n 32.2\n \n | \n \n \n 54.4\n \n | \n
| \n \n Derivative liabilities with gross settlement\n \n | \n \n \n 5.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 643.6\n \n | \n \n \n 540.4\n \n | \n \n \n 34.3\n \n | \n \n \n 68.9\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 655.3\n \n | \n \n \n 544.8\n \n | \n \n \n 36.1\n \n | \n \n \n 74.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n Cashflows\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n \nCarrying amount\n \n | \n \n \n \nTotal cashflow\n \n | \n \n \n \nLess than 3 months\n \n | \n \n \n Between\n3 months and 1 year\n \n | \n \n \n Between\n1 and 5 years\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Derivative assets with gross settlement1)\n \n | \n \n \n 20.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 773.2\n \n | \n \n \n 709.7\n \n | \n \n \n 34.9\n \n | \n \n \n 28.6\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 782.1\n \n | \n \n \n 715.6\n \n | \n \n \n 36.5\n \n | \n \n \n 30.0\n \n | \n
| \n \n Derivative liabilities with gross settlement\n \n | \n \n \n 3.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \u2013 Cash outflow\n \n | \n \n \n \n \n | \n \n \n 224.3\n \n | \n \n \n 182.5\n \n | \n \n \n 20.5\n \n | \n \n \n 21.3\n \n | \n
| \n \n \u2013 Cash inflow\n \n | \n \n \n \n \n | \n \n \n 222.5\n \n | \n \n \n 181.2\n \n | \n \n \n 20.2\n \n | \n \n \n 21.1\n \n | \n
\n 1)The carrying amount included the foreign currency call option (fair value: CHF 12.5 million) of the firm commitment to acquire Crayon.\n
\nThe contractual agreement determines whether the contracting parties must fulfil their obligations from derivative financial instruments net or gross.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-9": { "value": "In order to maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares.
For some group companies, dividend payments are subject to a withholding tax which cannot be fully recovered in Switzerland. The company has not recognized deferred tax liabilities associated with investments in subsidiaries where the group is able to control the reversal of the temporary differences and where it is probable that the temporary differences will not reverse in the foreseeable future.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-10": { "value": "| \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n \nNotional amount\n \n | \n \n \n \nNotional amount\n \n | \n \n \n Derivative\nfinancial assets\n \n | \n \n \n Derivative\nfinancial liabilities\n \n | \n \n \n Derivative\nfinancial assets\n \n | \n \n \n Derivative\nfinancial liabilities\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Forward foreign exchange\ncontracts\n \n | \n \n \n 1,178.7\n \n | \n \n \n 1,599.1\n \n | \n \n \n 1.9\n \n | \n \n \n 4.2\n \n | \n \n \n 19.5\n \n | \n \n \n 2.3\n \n | \n
| \n \n \u2013 cash flow hedges \nrecognized in OCI\n \n | \n \n \n 78.5\n \n | \n \n \n 641.4\n \n | \n \n \n 0.3\n \n | \n \n \n 1.8\n \n | \n \n \n 1.3\n \n | \n \n \n 0.5\n \n | \n
| \n \n \u2013 not designated as hedging\ninstruments\n \n | \n \n \n 1,100.0\n \n | \n \n \n 957.7\n \n | \n \n \n 1.6\n \n | \n \n \n 2.4\n \n | \n \n \n 5.7\n \n | \n \n \n 1.8\n \n | \n
| \n \n Foreign exchange\ncall options\n \n | \n \n \n -\n \n | \n \n \n 576.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 12.5\n \n | \n \n \n -\n \n | \n
| \n \n \u2013 cash flow hedges \nrecognized in OCI\n \n | \n \n \n -\n \n | \n \n \n 576.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 12.5\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Non-current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Forward foreign exchange\ncontracts\n \n | \n \n \n 115.0\n \n | \n \n \n 50.4\n \n | \n \n \n 0.3\n \n | \n \n \n 1.4\n \n | \n \n \n 0.7\n \n | \n \n \n 0.4\n \n | \n
| \n \n \u2013 cash flow hedges \nrecognized in OCI\n \n | \n \n \n 111.6\n \n | \n \n \n 48.7\n \n | \n \n \n 0.3\n \n | \n \n \n 1.2\n \n | \n \n \n 0.7\n \n | \n \n \n 0.4\n \n | \n
| \n \n \u2013 not designated as hedging\ninstruments\n \n | \n \n \n 3.4\n \n | \n \n \n 1.7\n \n | \n \n \n -\n \n | \n \n \n 0.2\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Interest rate swaps\n \n | \n \n \n 388.0\n \n | \n \n \n 96.2\n \n | \n \n \n 0.2\n \n | \n \n \n 0.3\n \n | \n \n \n -\n \n | \n \n \n 0.8\n \n | \n
| \n \n \u2013 cash flow hedges \nrecognized in OCI\n \n | \n \n \n 388.0\n \n | \n \n \n 96.2\n \n | \n \n \n 0.2\n \n | \n \n \n 0.3\n \n | \n \n \n -\n \n | \n \n \n 0.8\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total derivatives\n \n | \n \n \n 1,293.7\n \n | \n \n \n 1,649.5\n \n | \n \n \n 2.4\n \n | \n \n \n 5.9\n \n | \n \n \n 20.2\n \n | \n \n \n 3.5\n \n | \n
In 2025 and 2024, the ineffectiveness was immaterial.
In 2024, SoftwareOne entered into a foreign currency call option at a fair value at inception of CHF 13.5 million to hedge foreign currency risks relating to NOK 7.2 billion in connection with the purchase price for the acquisition of Crayon. The option was designated as a cash flow hedge. At the beginning of June 2025, SoftwareOne restructured the hedging instrument into a plain vanilla currency swap. The option\u2019s fair value of CHF 14.2 million was offset against the recorded financial liability for the option premium, which amounted to CHF 13.5 million. The resulting cash inflow of CHF 0.7 million is reported under acquisition of businesses in cashflow from investing activities. The corresponding amount accumulated in OCI was reclassified from the hedging reserve to the consideration for the net assets acquired together with the effects of the plain vanilla currency swap that SoftwareOne had entered into in June 2025, refer to Note 3 Change in the scope of consolidation.
In prior year, the group recognized unrealized losses in the amount of CHF \u20131.0 million and tax effect of CHF 0.2 million in OCI during the period.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-11": { "value": "The group\u2019s objectives when managing capital are to safeguard the group\u2019s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.
In order to maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares.
Capital is measured based on the group\u2019s consolidated financial statements and monitored closely on an ongoing basis. Management\u2019s goal for the period under review was to strengthen the capital base to sustain and support further development of the business.
The equity ratio for the period ended December 31, 2025, and the prior year were as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total equity\n \n | \n \n \n 981.4\n \n | \n \n \n 582.6\n \n | \n
| \n \n Total assets\n \n | \n \n \n 6,789.3\n \n | \n \n \n 4,306.8\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Equity ratio\n \n | \n \n \n 14.5%\n \n | \n \n \n 13.5%\n \n | \n
The equity ratio for 2025 increased compared to the previous year, primarily as a result of the Crayon acquisition and\u00a0newly issued shares totaling CHF 472.0 million, which were part of the Crayon purchase consideration. In this context, the total assets also increased. However, the rise in equity was partially offset by dividend payments and negative currency translation adjustments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-12": { "value": "For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-13": { "value": "For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-14": { "value": "For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-15": { "value": "The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
The carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-16": { "value": "The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
Trade receivables are non-interest bearing and are generally on terms of 30 to 90 days.
For trade receivables and contract assets, the group applies a simplified approach in calculating an allowance for expected credit losses (ECLs). Therefore, the group does not track changes in credit risk. Instead, it recognizes a loss allowance based on lifetime ECLs at each reporting date. The group has established a provision matrix that is based on the group\u2019s historical observed default rates. The group calibrates the matrix to adjust the historical credit loss experience with forward-looking information. For instance, if forecast economic conditions (i.e., gross domestic product) are expected to deteriorate over the next year, which can lead to an increased number of defaults, the default rates are adjusted.
The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e., geographical region and customer rating and coverage by letters of credit or other forms of credit insurance). The calculation reflects the probability weighted outcome and reasonable and supportable information that is available at the reporting date about past events, current conditions, and forecasts of future economic conditions.
At each reporting date, the historical observed default rates are updated and changes in the forward-looking estimates are analyzed.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-17": { "value": "For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The following table discloses the carrying amounts and fair values, as required, of the group\u2019s financial instruments by class and category:
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 419.1\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 3,424.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 531.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 0.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 4,377.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 3,718.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 530.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 51.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 788.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 4.5\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 2.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 3.3\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 74.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 5,172.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nSoftwareOne held listed Crayon shares which were measured at fair value through profit or loss until they were derecognized. Up to the date of the Crayon acquisition, the group recorded a fair value gain of CHF 9.6 million as finance income (prior year: CHF 21.5 million).
In December 2022, the group entered into a total return swap agreement related to listed shares in Crayon. Under the total return swap, SoftwareOne sold the underlying shares for a cash consideration of CHF 42.6 million but remained exposed to changes in the market value of these shares. As a result, the group did not derecognize the financial asset and recorded a financial liability for the receipts from swap contracts. In April 2025, the total return swap agreement was amended, allowing for early termination and physical settlement of the swap. On June 27, 2025, SoftwareOne terminated the agreement and exercised the physical settlement option. The shares were transferred back to SoftwareOne at the inception price of the total return swap. The recorded financial liability for the receipts from swap contracts was settled at CHF 35.7 million, which is presented under investing cashflow (prior year: cash inflow of CHF 10.1 million).
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 271.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 2,616.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 328.6\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 5.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 14.5\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial assets - listed equity instrument\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 62.4\n \n | \n \n \n \n \n | \n \n \n Level 1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 3,298.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 2,568.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 297.8\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 37.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 287.9\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 6.6\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.4\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 35.9\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 1.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 35.6\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 3,274.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nThe carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
No transfers between the hierarchy levels were made in 2025. There was a transfer from level 3 to level 2 in 2024.
The following table discloses valuation classes for financial instruments measured at fair value:
| \n \n \n \n | \n \n \n As of December 31, 2025\n \n | \n \n \n As of December 31, 2024\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Financial assets\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 4.5\n \n | \n \n \n 4.5\n \n | \n \n \n -\n \n | \n \n \n 1.4\n \n | \n \n \n 6.6\n \n | \n \n \n 8.0\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n
The changes in carrying values associated with \u201cLevel 3\u201d contingent consideration liabilities are set out below:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 6.6\n \n | \n \n \n 7.3\n \n | \n
| \n \n Additions\n \n | \n \n \n -\n \n | \n \n \n 6.3\n \n | \n
| \n \n Settlement in cash1)\n \n | \n \n \n \u20131.3\n \n | \n \n \n \u20134.4\n \n | \n
| \n \n Fair value adjustment\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20131.4\n \n | \n
| \n \n Transfer to \u201cLevel 2\u201d\n \n | \n \n \n -\n \n | \n \n \n \u20131.3\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.5\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 4.5\n \n | \n \n \n 6.6\n \n | \n
\n 1)Payments of CHF 1.3 million are presented in cashflow from investing activities in 2025. \n
\nThe contingent consideration liability relates to the acquisition of Medalsoft (fair value as of\u00a0December 31, 2025: CHF 4.5\u00a0million; prior year: CHF 6.3 million). The contingent consideration liability of Medalsoft depends on the achievement of certain fixed events (CHF 2.1\u00a0million, prior year: CHF 2.3 million) and the retention of a key employee (CHF 2.4 million, prior year: CHF 4.0 million). The cash outflows are expected on a yearly basis until 2027. In the event of termination by this key employee, the contingent consideration is reduced.
The remaining contingent consideration of Predica, which was assigned to \u201cLevel 2\u201d in the fair value hierarchy in 2024, was paid in 2025 in the amount of CHF 1.4 million and reported under acquisition of business in investing cash flows.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-18": { "value": "For purposes of subsequent measurement, SoftwareOne has financial assets at amortized cost (debt instruments), financial assets at fair value through profit or loss and derivatives designated as hedging instruments.
The group\u2019s financial assets at amortized cost comprise trade and other receivables, loans and cash and cash equivalents.
The group\u2019s financial liabilities include trade and other payables, accrued expenses, contingent consideration liabilities and other financial liabilities including bank overdrafts, bank loans and derivative financial instruments.
Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value through profit or loss except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to the income statement when the hedged item affects profit or loss or as part of the initial carrying amount of the non-financial assets or liability recognized. The ineffective portion is recognized immediately in the income statement.
In the case of a positive value, the derivative is recognized as an asset and in the case of a negative value, as a liability (classified as non-current when the remaining maturity of the hedged item is more than 12 months and as current when the remaining maturity of the hedged item is less than 12 months).
The following table discloses the carrying amounts and fair values, as required, of the group\u2019s financial instruments by class and category:
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 419.1\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 3,424.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 531.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 0.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 4,377.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 3,718.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 530.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 51.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 788.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 4.5\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 2.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 3.3\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 74.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 5,172.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nSoftwareOne held listed Crayon shares which were measured at fair value through profit or loss until they were derecognized. Up to the date of the Crayon acquisition, the group recorded a fair value gain of CHF 9.6 million as finance income (prior year: CHF 21.5 million).
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 271.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 2,616.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 328.6\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 5.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 14.5\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial assets - listed equity instrument\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 62.4\n \n | \n \n \n \n \n | \n \n \n Level 1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 3,298.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 2,568.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 297.8\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 37.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 287.9\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 6.6\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.4\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 35.9\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 1.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 35.6\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 3,274.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nThe carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
No transfers between the hierarchy levels were made in 2025. There was a transfer from level 3 to level 2 in 2024.
The following table discloses valuation classes for financial instruments measured at fair value:
| \n \n \n \n | \n \n \n As of December 31, 2025\n \n | \n \n \n As of December 31, 2024\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Financial assets\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 4.5\n \n | \n \n \n 4.5\n \n | \n \n \n -\n \n | \n \n \n 1.4\n \n | \n \n \n 6.6\n \n | \n \n \n 8.0\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n
The changes in carrying values associated with \u201cLevel 3\u201d contingent consideration liabilities are set out below:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 6.6\n \n | \n \n \n 7.3\n \n | \n
| \n \n Additions\n \n | \n \n \n -\n \n | \n \n \n 6.3\n \n | \n
| \n \n Settlement in cash1)\n \n | \n \n \n \u20131.3\n \n | \n \n \n \u20134.4\n \n | \n
| \n \n Fair value adjustment\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20131.4\n \n | \n
| \n \n Transfer to \u201cLevel 2\u201d\n \n | \n \n \n -\n \n | \n \n \n \u20131.3\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.5\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 4.5\n \n | \n \n \n 6.6\n \n | \n
\n 1)Payments of CHF 1.3 million are presented in cashflow from investing activities in 2025. \n
\nThe contingent consideration liability relates to the acquisition of Medalsoft (fair value as of\u00a0December 31, 2025: CHF 4.5\u00a0million; prior year: CHF 6.3 million). The contingent consideration liability of Medalsoft depends on the achievement of certain fixed events (CHF 2.1\u00a0million, prior year: CHF 2.3 million) and the retention of a key employee (CHF 2.4 million, prior year: CHF 4.0 million). The cash outflows are expected on a yearly basis until 2027. In the event of termination by this key employee, the contingent consideration is reduced.
The remaining contingent consideration of Predica, which was assigned to \u201cLevel 2\u201d in the fair value hierarchy in 2024, was paid in 2025 in the amount of CHF 1.4 million and reported under acquisition of business in investing cash flows.
The group has entered into transactions in which it transfers trade receivables under factoring agreements and, as a result, may either be eligible to derecognize the transferred receivables in their entirety or must continue to recognize the transferred receivables to the extent of any continuing involvement, depending on certain criteria.
Receivables subject to factoring arrangements are derecognized on sale and these assets are not held to collect contractual cash flows and would be measured at fair value through profit or loss. However, due to their short-term nature, the difference between transaction price and fair value is not considered to be material. Where the factored receivables continue to be recognized in the balance sheet, they are treated as held to collect contractual cash flows and are measured at amortized cost.
In 2025, new portfolio factoring programs were established for SoftwareOne Germany and SoftwareOne US. Provided that defined eligibility criteria are met, invoices are sold on a non-recourse basis. The German program has a purchase limit of EUR 150.0 million. The US program includes a limit of USD 115.0 million plus an additional USD 95.0 million for a specific purchase relating to a single obligor. Almost all receivables sold under the portfolio programs are insured against default risks. Receivables subject to these factoring arrangements are derecognized upon sale.
The amount of the receivables sold as of December 31, 2025, is CHF 376.4 million (prior year: CHF 151.6 million). The amount is fully derecognized from the balance sheet. SoftwareOne records liabilities to factoring partners for forwarding incoming payments from customers under other current payables. These amounted to CHF 57.1 million as of December 31, 2025 (prior year: nil).
The group has entered into arrangements that do not meet the criteria for offsetting but still allow for the related amounts to be offset if certain credit events occur (such as a default). The following table shows the amounts which cannot be offset under IFRS, but which could be settled net under the terms of master netting agreements, to show the total net exposure of the group.
| \n \n 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \n\n\nGross amounts\n \n | \n \n \n \nAmounts offset in the consolidated balance sheet\n \n | \n \n \n \nNet amounts presented in the consolidated balance sheet\n \n | \n \n \n Amounts subject to master netting arrangements but not offset\n \n | \n \n \n \n\n\nNet amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 3,394.9\n \n | \n \n \n -\n \n | \n \n \n 3,394.9\n \n | \n \n \n \u201372.8\n \n | \n \n \n 3,322.1\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 203.9\n \n | \n \n \n -\n \n | \n \n \n 203.9\n \n | \n \n \n \u201357.4\n \n | \n \n \n 146.5\n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n -\n \n | \n \n \n 3,718.0\n \n | \n \n \n \u2013130.2\n \n | \n \n \n 3,587.8\n \n | \n
| \n \n Derivative financial assets\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n \u20132.4\n \n | \n \n \n -\n \n | \n
| \n \n Derivative financial liabilities\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n \u20132.4\n \n | \n \n \n 3.5\n \n | \n
| \n \n 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \n\n\nGross amounts\n \n | \n \n \n \nAmounts offset in the consolidated balance sheet\n \n | \n \n \n \nNet amounts presented in the consolidated balance sheet\n \n | \n \n \n Amounts subject to master netting arrangements but not offset\n \n | \n \n \n \n\n\nNet amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 2,616.0\n \n | \n \n \n -\n \n | \n \n \n 2,616.0\n \n | \n \n \n \u201318.7\n \n | \n \n \n 2,597.3\n \n | \n
| \n \n Prepayments and contract assets\n \n | \n \n \n 122.1\n \n | \n \n \n -\n \n | \n \n \n 122.1\n \n | \n \n \n \u201319.7\n \n | \n \n \n 102.4\n \n | \n
| \n \n Trade payables\n \n | \n \n \n 2,568.5\n \n | \n \n \n -\n \n | \n \n \n 2,568.5\n \n | \n \n \n \u201338.4\n \n | \n \n \n 2,530.1\n \n | \n
| \n \n Derivative financial assets\n \n | \n \n \n 20.2\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n \n \n \u20133.6\n \n | \n \n \n 16.6\n \n | \n
| \n \n Derivative financial liabilities\n \n | \n \n \n 3.5\n \n | \n \n \n -\n \n | \n \n \n 3.5\n \n | \n \n \n \u20133.5\n \n | \n \n \n -\n \n | \n
The following table discloses the carrying amounts and fair values, as required, of the group\u2019s financial instruments by class and category:
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 419.1\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 3,424.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 531.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 0.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 4,377.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 3,718.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 530.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 51.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 788.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 4.5\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 2.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 3.3\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 74.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 5,172.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nSoftwareOne held listed Crayon shares which were measured at fair value through profit or loss until they were derecognized. Up to the date of the Crayon acquisition, the group recorded a fair value gain of CHF 9.6 million as finance income (prior year: CHF 21.5 million).
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 271.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 2,616.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 328.6\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 5.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 14.5\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial assets - listed equity instrument\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 62.4\n \n | \n \n \n \n \n | \n \n \n Level 1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 3,298.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 2,568.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 297.8\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 37.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 287.9\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 6.6\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.4\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 35.9\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 1.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 35.6\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 3,274.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nThe following table discloses the carrying amounts and fair values, as required, of the group\u2019s financial instruments by class and category:
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 419.1\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 3,424.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 531.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 0.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 4,377.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 3,718.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 530.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 51.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 788.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 4.5\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 2.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 3.3\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 74.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 5,172.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nSoftwareOne held listed Crayon shares which were measured at fair value through profit or loss until they were derecognized. Up to the date of the Crayon acquisition, the group recorded a fair value gain of CHF 9.6 million as finance income (prior year: CHF 21.5 million).
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 271.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 2,616.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 328.6\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 5.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 14.5\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial assets - listed equity instrument\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 62.4\n \n | \n \n \n \n \n | \n \n \n Level 1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 3,298.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 2,568.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 297.8\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 37.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 287.9\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 6.6\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.4\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 35.9\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 1.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 35.6\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 3,274.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nThe following table discloses the carrying amounts and fair values, as required, of the group\u2019s financial instruments by class and category:
| \n \n As of December 31, 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 419.1\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 3,424.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 531.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 0.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 4,377.2\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 3,718.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 530.2\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 51.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 788.4\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 4.5\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 2.6\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 3.3\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 74.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 5,172.9\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nSoftwareOne held listed Crayon shares which were measured at fair value through profit or loss until they were derecognized. Up to the date of the Crayon acquisition, the group recorded a fair value gain of CHF 9.6 million as finance income (prior year: CHF 21.5 million).
| \n \n As of December 31, 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n IFRS 9 category\n \n | \n \n \n Carrying amount\n \n | \n \n \n Fair value\n \n | \n \n \n Fair value level\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n Amortized cost\n \n | \n \n \n 271.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 2,616.0\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n Amortized cost\n \n | \n \n \n 328.6\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 5.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 14.5\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial assets - listed equity instrument\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 62.4\n \n | \n \n \n \n \n | \n \n \n Level 1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial assets\n \n | \n \n \n \n \n | \n \n \n 3,298.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n FINANCIAL LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 2,568.5\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Other payables\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 297.8\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 37.3\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Financial liabilities at amortized cost\n \n | \n \n \n 287.9\n \n | \n \n \n n/a*\n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 6.6\n \n | \n \n \n \n \n | \n \n \n Level 3\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.4\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 35.9\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Fair value through profit or loss\n \n | \n \n \n 1.8\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n Designated as cash flow hedge\n \n | \n \n \n 1.7\n \n | \n \n \n \n \n | \n \n \n Level 2\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n n/a\n \n | \n \n \n 35.6\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n \n \n | \n \n \n 3,274.5\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
\n *The carrying amount is a reasonable approximation of fair value.\n
\nThe carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables with a remaining term of up to 12 months, as well as other current financial assets and liabilities, represent a reasonable approximation of their fair values, due to the short-term maturities of these instruments.
The fair value of financial assets (equity instruments) was based on observable price quotations at the reporting date. The fair value of derivatives is determined based on input factors observed directly or indirectly on the market. The fair value of foreign exchange forward contracts is based on forward exchange rates. The fair value of financial liabilities (related to a swap contract) is determined based on input factors observed directly or indirectly on the market.
Financial instruments carried at fair value are classified by valuation method. The fair value hierarchy has been defined as follows:
\n Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices for identical assets or liabilities at the reporting date.
\n Level 2: The fair value measurements are those derived from valuation techniques using inputs for the asset or liability that are observable market data, either directly or indirectly. Such valuation techniques include the discounted cash flow method and option pricing models. For example, the fair value of interest rate and currency swaps is determined by discounting estimated future cash flows, and the fair value of forward foreign exchange contracts is determined by using the forward exchange market at the end of the reporting period.
\n Level 3: The fair value measurements are those derived from valuation techniques using significant inputs for the asset or liability that are not based on observable market data.
No transfers between the hierarchy levels were made in 2025. There was a transfer from level 3 to level 2 in 2024.
The following table discloses valuation classes for financial instruments measured at fair value:
| \n \n \n \n | \n \n \n As of December 31, 2025\n \n | \n \n \n As of December 31, 2024\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n \n \n Level 1\n \n | \n \n \n Level 2\n \n | \n \n \n Level 3\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n ASSETS\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Financial assets\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 62.3\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 2.4\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n \n \n -\n \n | \n \n \n 20.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n LIABILITIES\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 4.5\n \n | \n \n \n 4.5\n \n | \n \n \n -\n \n | \n \n \n 1.4\n \n | \n \n \n 6.6\n \n | \n \n \n 8.0\n \n | \n
| \n \n Financial liabilities\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n \n \n -\n \n | \n \n \n 35.9\n \n | \n
| \n \n Derivative financial instruments\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 5.9\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n \n \n -\n \n | \n \n \n 3.6\n \n | \n
The changes in carrying values associated with \u201cLevel 3\u201d contingent consideration liabilities are set out below:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 6.6\n \n | \n \n \n 7.3\n \n | \n
| \n \n Additions\n \n | \n \n \n -\n \n | \n \n \n 6.3\n \n | \n
| \n \n Settlement in cash1)\n \n | \n \n \n \u20131.3\n \n | \n \n \n \u20134.4\n \n | \n
| \n \n Fair value adjustment\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20131.4\n \n | \n
| \n \n Transfer to \u201cLevel 2\u201d\n \n | \n \n \n -\n \n | \n \n \n \u20131.3\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.5\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 4.5\n \n | \n \n \n 6.6\n \n | \n
\n 1)Payments of CHF 1.3 million are presented in cashflow from investing activities in 2025. \n
\nThe contingent consideration liability relates to the acquisition of Medalsoft (fair value as of\u00a0December 31, 2025: CHF 4.5\u00a0million; prior year: CHF 6.3 million). The contingent consideration liability of Medalsoft depends on the achievement of certain fixed events (CHF 2.1\u00a0million, prior year: CHF 2.3 million) and the retention of a key employee (CHF 2.4 million, prior year: CHF 4.0 million). The cash outflows are expected on a yearly basis until 2027. In the event of termination by this key employee, the contingent consideration is reduced.
The remaining contingent consideration of Predica, which was assigned to \u201cLevel 2\u201d in the fair value hierarchy in 2024, was paid in 2025 in the amount of CHF 1.4 million and reported under acquisition of business in investing cash flows.
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates may differ from the actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
The group is subject to income taxes in numerous jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes.
In particular, the deferred tax assets on unused tax losses require estimates of the amount and dates of future taxable income as well as the future tax planning strategies. If the group does not expect to realize the unused tax losses, these are not recognized.
The recoverable amount of cash-generating units is measured on the basis of value-in-use calculations and as such is significantly impacted by the projected free cashflows, the discount rate, future tax rate and the revenue growth rate, which are subject to management judgement. Actual cash flows as well as other input parameters could vary significantly from these estimates.
These calculations are highly sensitive to key assumptions, including projected free cash flows, the discount rate, revenue growth rates and EBITDA/revenue ratio. Each of these assumptions involves significant management judgement, and actual outcomes may differ materially from the estimates applied.
Management exercises significant judgement in identifying CGUs and allocating goodwill to the relevant units that are expected to benefit from the business combination and in determining key drivers of value for each CGU and whether changes in the business, markets or organizational structure trigger the need for an updated impairment test outside the annual cycle.
Determining whether a present obligation exists and whether an economical outflow is probable often requires significant judgement. This particularly applies to legal disputes and claims, where the outcome is inherently uncertain and depends on interpretations of law, the strength of evidence, and external legal advice. If an outflow is possible rather than probable, or when the amount cannot be reliably estimated, contingent liabilities are disclosed. Contingent liabilities assumed in a business combination that are present obligations are recognized at acquisition date fair values, even if it is not probable that an outflow is probable.
The judgements require careful evaluation of available information, historical experience, and expert input. As outcomes may differ from management\u2019s assessments, actual results may vary and could lead to future adjustments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90035-23": { "value": "The group has entered into transactions in which it transfers trade receivables under factoring agreements and, as a result, may either be eligible to derecognize the transferred receivables in their entirety or must continue to recognize the transferred receivables to the extent of any continuing involvement, depending on certain criteria.
Receivables subject to factoring arrangements are derecognized on sale and these assets are not held to collect contractual cash flows and would be measured at fair value through profit or loss. However, due to their short-term nature, the difference between transaction price and fair value is not considered to be material. Where the factored receivables continue to be recognized in the balance sheet, they are treated as held to collect contractual cash flows and are measured at amortized cost.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90091-1": { "value": "5 Critical accounting estimates and judgmentsEstimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates may differ from the actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.Income taxes (Note 10)The group is subject to income taxes in numerous jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes.In particular, the deferred tax assets on unused tax losses require estimates of the amount and dates of future taxable income as well as the future tax planning strategies. If the group does not expect to realize the unused tax losses, these are not recognized.Goodwill (Note 15)The recoverable amount of cash-generating units is measured on the basis of value-in-use calculations and as such is significantly impacted by the projected free cashflows, the discount rate, future tax rate and the revenue growth rate, which are subject to management judgement. Actual cash flows as well as other input parameters could vary significantly from these estimates.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90012-1": { "value": "Revenue from contracts with customers comprises revenue from the sale of software and cloud licenses as well as the sale of technology consulting services. Revenue from contracts with customers is recognized when the performance obligation in the contract has been satisfied either at a \u201cpoint in time\u201d or \u201cover time\u201d as control of the promised goods or service is transferred to the customer at an amount that reflects the consideration to which the group expects to be entitled in exchange for those goods or services. The normal credit term is 30 to 90 days upon delivery.
SoftwareOne enters into contracts with end customers to sell software and cloud solutions\u00a0of several third-party software providers. Below, software is used as a synonym for software and cloud products.
SoftwareOne acts as a \u201cvalue added software reseller\u201d, providing pre-sales consulting services to end customers in connection with software sales. The group's performance obligation is to arrange for the provision of software\u00a0between the software provider and the end customer. Primary responsibility to provide the software lies with the software provider. SoftwareOne invoices the end customer and manages payment collections. SoftwareOne's performance obligation is satisfied when all parties have concluded the license agreement, and the software provider has accepted the contract and associated terms and conditions. The same applies for multi-period cloud consumption-based contracts with minimum commitments. Thus, SoftwareOne acts as an agent and recognizes revenue in the net amount in the consolidated financial statements, reflecting the difference between the consideration received from the end customer and the cost of software purchased.
The group also enters into multi-year licensing contracts with annual billing in which the end customer has the right to change the software reseller during the contract term. For such contracts, SoftwareOne recognizes revenue for the contract between the end customer and the software provider upfront for the entire term when all parties have concluded the contract, adjusting for the effects of a potential change in channel partner based on historical experience as a variable consideration, and presented net as contract asset.
SoftwareOne uses the practical expedient in IFRS 15 and does not adjust the promised amount of consideration for the effects of a significant financing component if it expects at contract inception that the period between the provision of access to the software license to the end customer and the receipt of the consideration from the end customer will be one year or less.
Revenue from technology consulting services is generally recognized over time as the customer simultaneously receives and consumes the benefits provided. SoftwareOne uses an input method based on costs incurred to measure progress towards the stage of completion of the service. The group has chosen this method of measuring progress because there is a direct relationship between SoftwareOne\u2019s effort and the transfer of the service to the customer. In addition, in cases where the group provides standardized services (i.e., managed services), revenue is recognized pro rata over the term of the contract. Payment is due 30 days after the solutions and services have been performed. As a rule, services are priced separately. If this is not the case, the transaction prices are allocated based on the relative stand-alone selling prices.
For service contracts in which the company only acts as an agent between the customer and the third-party service provider, revenue is recognized on a net basis in the consolidated financial statements, reflecting the difference between the consideration received from the customer and the third-party service delivery cost. Revenue is recognized at the point in time when the underlying service has been delivered to the end customer.
Revenue from external software which is only used to provide software asset management solutions is recognized at the point in time when control of the license is transferred to the customer. Related costs of software purchased are presented net under revenue from Software & Cloud Services.
Software & Cloud Channel represents the sale of software and cloud licenses to or through partners such as hosters, MSPs and ISVs who have the direct relationship with end customers. SoftwareOne invoices the partner who then invoices the end customer.\u00a0SoftwareOne's performance obligation is satisfied when the partner and the software provider have concluded the license agreement, and the software provider has accepted the contract and associated terms and conditions. Revenue recognition follows the principles previously described in Software & Cloud Direct for the sale of software and cloud licenses.
SoftwareOne uses the practical expedient in IFRS 15.121 and does not disclose information about the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied when the original expected duration of the underlying contract is one year or less. After applying this practical expedient, the remaining performance obligations to be disclosed for the years ending December 31, 2025, and 2024 are not material.
Revenue is allocated according to the business lines, as outlined below:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Software & Cloud Direct\n \n | \n \n \n 569.6\n \n | \n \n \n 531.2\n \n | \n
| \n \n Software & Cloud Services\n \n | \n \n \n 612.4\n \n | \n \n \n 484.2\n \n | \n
| \n \n Software & Cloud Channel1)\n \n | \n \n \n 61.4\n \n | \n \n \n n/a\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n TOTAL revenue\n \n | \n \n \n 1,243.4\n \n | \n \n \n 1,015.4\n \n | \n
\n 1)The group introduced the new business line after the acquisition of Crayon in the second half of 2025.\n
\nFor management purposes, SoftwareOne is organized by geographical areas. The breakdown of revenue below follows the regional clusters that constitute the group\u2019s reportable segments. Revenue is disaggregated as outlined below:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n DACH\n \n | \n \n \n 346.4\n \n | \n \n \n 328.6\n \n | \n
| \n \n WEMEA1)\n \n | \n \n \n 278.1\n \n | \n \n \n 230.2\n \n | \n
| \n \n Nordics1)\n \n | \n \n \n 118.5\n \n | \n \n \n 22.9\n \n | \n
| \n \n CEE1)\n \n | \n \n \n 59.6\n \n | \n \n \n 40.9\n \n | \n
| \n \n NORAM\n \n | \n \n \n 140.4\n \n | \n \n \n 138.2\n \n | \n
| \n \n LATAM\n \n | \n \n \n 88.4\n \n | \n \n \n 96.6\n \n | \n
| \n \n APAC1)\n \n | \n \n \n 212.0\n \n | \n \n \n 158.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Revenue\n \n | \n \n \n 1,243.4\n \n | \n \n \n 1,015.4\n \n | \n
\n 1)Prior year restated due to new operating segments, refer to note 2 Other changes in presentation.\n
\nRevenue from contracts with customers comprises revenue from the sale of software and cloud licenses as well as the sale of technology consulting services. Revenue from contracts with customers is recognized when the performance obligation in the contract has been satisfied either at a \u201cpoint in time\u201d or \u201cover time\u201d as control of the promised goods or service is transferred to the customer at an amount that reflects the consideration to which the group expects to be entitled in exchange for those goods or services. The normal credit term is 30 to 90 days upon delivery.
SoftwareOne enters into contracts with end customers to sell software and cloud solutions\u00a0of several third-party software providers. Below, software is used as a synonym for software and cloud products.
SoftwareOne acts as a \u201cvalue added software reseller\u201d, providing pre-sales consulting services to end customers in connection with software sales. The group's performance obligation is to arrange for the provision of software\u00a0between the software provider and the end customer. Primary responsibility to provide the software lies with the software provider. SoftwareOne invoices the end customer and manages payment collections. SoftwareOne's performance obligation is satisfied when all parties have concluded the license agreement, and the software provider has accepted the contract and associated terms and conditions. The same applies for multi-period cloud consumption-based contracts with minimum commitments. Thus, SoftwareOne acts as an agent and recognizes revenue in the net amount in the consolidated financial statements, reflecting the difference between the consideration received from the end customer and the cost of software purchased.
The group also enters into multi-year licensing contracts with annual billing in which the end customer has the right to change the software reseller during the contract term. For such contracts, SoftwareOne recognizes revenue for the contract between the end customer and the software provider upfront for the entire term when all parties have concluded the contract, adjusting for the effects of a potential change in channel partner based on historical experience as a variable consideration, and presented net as contract asset.
SoftwareOne uses the practical expedient in IFRS 15 and does not adjust the promised amount of consideration for the effects of a significant financing component if it expects at contract inception that the period between the provision of access to the software license to the end customer and the receipt of the consideration from the end customer will be one year or less.
Revenue from technology consulting services is generally recognized over time as the customer simultaneously receives and consumes the benefits provided. SoftwareOne uses an input method based on costs incurred to measure progress towards the stage of completion of the service. The group has chosen this method of measuring progress because there is a direct relationship between SoftwareOne\u2019s effort and the transfer of the service to the customer. In addition, in cases where the group provides standardized services (i.e., managed services), revenue is recognized pro rata over the term of the contract. Payment is due 30 days after the solutions and services have been performed. As a rule, services are priced separately. If this is not the case, the transaction prices are allocated based on the relative stand-alone selling prices.
For service contracts in which the company only acts as an agent between the customer and the third-party service provider, revenue is recognized on a net basis in the consolidated financial statements, reflecting the difference between the consideration received from the customer and the third-party service delivery cost. Revenue is recognized at the point in time when the underlying service has been delivered to the end customer.
Revenue from external software which is only used to provide software asset management solutions is recognized at the point in time when control of the license is transferred to the customer. Related costs of software purchased are presented net under revenue from Software & Cloud Services.
Software & Cloud Channel represents the sale of software and cloud licenses to or through partners such as hosters, MSPs and ISVs who have the direct relationship with end customers. SoftwareOne invoices the partner who then invoices the end customer.\u00a0SoftwareOne's performance obligation is satisfied when the partner and the software provider have concluded the license agreement, and the software provider has accepted the contract and associated terms and conditions. Revenue recognition follows the principles previously described in Software & Cloud Direct for the sale of software and cloud licenses.
SoftwareOne uses the practical expedient in IFRS 15.121 and does not disclose information about the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied when the original expected duration of the underlying contract is one year or less. After applying this practical expedient, the remaining performance obligations to be disclosed for the years ending December 31, 2025, and 2024 are not material.
Revenue is allocated according to the business lines, as outlined below:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Software & Cloud Direct\n \n | \n \n \n 569.6\n \n | \n \n \n 531.2\n \n | \n
| \n \n Software & Cloud Services\n \n | \n \n \n 612.4\n \n | \n \n \n 484.2\n \n | \n
| \n \n Software & Cloud Channel1)\n \n | \n \n \n 61.4\n \n | \n \n \n n/a\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n TOTAL revenue\n \n | \n \n \n 1,243.4\n \n | \n \n \n 1,015.4\n \n | \n
\n 1)The group introduced the new business line after the acquisition of Crayon in the second half of 2025.\n
\nFor management purposes, SoftwareOne is organized by geographical areas. The breakdown of revenue below follows the regional clusters that constitute the group\u2019s reportable segments. Revenue is disaggregated as outlined below:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n DACH\n \n | \n \n \n 346.4\n \n | \n \n \n 328.6\n \n | \n
| \n \n WEMEA1)\n \n | \n \n \n 278.1\n \n | \n \n \n 230.2\n \n | \n
| \n \n Nordics1)\n \n | \n \n \n 118.5\n \n | \n \n \n 22.9\n \n | \n
| \n \n CEE1)\n \n | \n \n \n 59.6\n \n | \n \n \n 40.9\n \n | \n
| \n \n NORAM\n \n | \n \n \n 140.4\n \n | \n \n \n 138.2\n \n | \n
| \n \n LATAM\n \n | \n \n \n 88.4\n \n | \n \n \n 96.6\n \n | \n
| \n \n APAC1)\n \n | \n \n \n 212.0\n \n | \n \n \n 158.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Revenue\n \n | \n \n \n 1,243.4\n \n | \n \n \n 1,015.4\n \n | \n
\n 1)Prior year restated due to new operating segments, refer to note 2 Other changes in presentation.\n
\n| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Salaries \u2013 fixed\n \n | \n \n \n \u2013551.4\n \n | \n \n \n \u2013455.4\n \n | \n
| \n \n Salaries \u2013 variable\n \n | \n \n \n \u2013100.2\n \n | \n \n \n \u201392.8\n \n | \n
| \n \n Social security costs\n \n | \n \n \n \u201398.7\n \n | \n \n \n \u201383.3\n \n | \n
| \n \n Earn-out expenses (Note 19)\n \n | \n \n \n \u20134.7\n \n | \n \n \n \u20139.6\n \n | \n
| \n \n Pension costs \u2013 defined benefit plans (Note 21)\n \n | \n \n \n \u201310.1\n \n | \n \n \n \u20135.7\n \n | \n
| \n \n Pension costs \u2013 defined contribution plans\n \n | \n \n \n \u201317.4\n \n | \n \n \n \u201311.2\n \n | \n
| \n \n Share-based payment expenses (Note 25)\n \n | \n \n \n \u201312.6\n \n | \n \n \n \u201313.0\n \n | \n
| \n \n Other personnel expenses\n \n | \n \n \n \u201327.5\n \n | \n \n \n \u201322.0\n \n | \n
| \n \n Capitalized personnel expenses\n \n | \n \n \n 42.5\n \n | \n \n \n 35.8\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total personnel expenses\n \n | \n \n \n \u2013780.1\n \n | \n \n \n \u2013657.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Average head count (FTE)\n \n | \n \n \n 10,928\n \n | \n \n \n 9,338\n \n | \n
Personnel expenses included CHF \u201317.0 million costs for restructuring (prior year: CHF \u201345.8 million) and CHF \u201311.8 million for Crayon integration (prior year: nil).
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Travel and car expenses\n \n | \n \n \n \u201331.8\n \n | \n \n \n \u201333.7\n \n | \n
| \n \n Administrative expenses\n \n | \n \n \n \u201370.7\n \n | \n \n \n \u201366.8\n \n | \n
| \n \n Maintenance and utility expenses\n \n | \n \n \n \u201311.2\n \n | \n \n \n \u20138.1\n \n | \n
| \n \n Information technology expenses\n \n | \n \n \n \u201349.9\n \n | \n \n \n \u201336.3\n \n | \n
| \n \n Telecommunication expenses\n \n | \n \n \n \u20133.5\n \n | \n \n \n \u20132.9\n \n | \n
| \n \n Marketing expenses\n \n | \n \n \n \u201314.0\n \n | \n \n \n \u201314.4\n \n | \n
| \n \n Bad debt expenses\n \n | \n \n \n \u201311.3\n \n | \n \n \n \u201322.7\n \n | \n
| \n \n Other expenses\n \n | \n \n \n \u201330.0\n \n | \n \n \n \u201332.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total other operating expenses\n \n | \n \n \n \u2013222.4\n \n | \n \n \n \u2013217.0\n \n | \n
Other operating expenses were impacted by Crayon related acquisition and integration costs of CHF \u201335.3 million. The previous year included CHF \u201330.4 million advisory costs for the strategic review and commercial excellence program.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90068-2": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Salaries \u2013 fixed\n \n | \n \n \n \u2013551.4\n \n | \n \n \n \u2013455.4\n \n | \n
| \n \n Salaries \u2013 variable\n \n | \n \n \n \u2013100.2\n \n | \n \n \n \u201392.8\n \n | \n
| \n \n Social security costs\n \n | \n \n \n \u201398.7\n \n | \n \n \n \u201383.3\n \n | \n
| \n \n Earn-out expenses (Note 19)\n \n | \n \n \n \u20134.7\n \n | \n \n \n \u20139.6\n \n | \n
| \n \n Pension costs \u2013 defined benefit plans (Note 21)\n \n | \n \n \n \u201310.1\n \n | \n \n \n \u20135.7\n \n | \n
| \n \n Pension costs \u2013 defined contribution plans\n \n | \n \n \n \u201317.4\n \n | \n \n \n \u201311.2\n \n | \n
| \n \n Share-based payment expenses (Note 25)\n \n | \n \n \n \u201312.6\n \n | \n \n \n \u201313.0\n \n | \n
| \n \n Other personnel expenses\n \n | \n \n \n \u201327.5\n \n | \n \n \n \u201322.0\n \n | \n
| \n \n Capitalized personnel expenses\n \n | \n \n \n 42.5\n \n | \n \n \n 35.8\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total personnel expenses\n \n | \n \n \n \u2013780.1\n \n | \n \n \n \u2013657.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Average head count (FTE)\n \n | \n \n \n 10,928\n \n | \n \n \n 9,338\n \n | \n
Personnel expenses included CHF \u201317.0 million costs for restructuring (prior year: CHF \u201345.8 million) and CHF \u201311.8 million for Crayon integration (prior year: nil).
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Travel and car expenses\n \n | \n \n \n \u201331.8\n \n | \n \n \n \u201333.7\n \n | \n
| \n \n Administrative expenses\n \n | \n \n \n \u201370.7\n \n | \n \n \n \u201366.8\n \n | \n
| \n \n Maintenance and utility expenses\n \n | \n \n \n \u201311.2\n \n | \n \n \n \u20138.1\n \n | \n
| \n \n Information technology expenses\n \n | \n \n \n \u201349.9\n \n | \n \n \n \u201336.3\n \n | \n
| \n \n Telecommunication expenses\n \n | \n \n \n \u20133.5\n \n | \n \n \n \u20132.9\n \n | \n
| \n \n Marketing expenses\n \n | \n \n \n \u201314.0\n \n | \n \n \n \u201314.4\n \n | \n
| \n \n Bad debt expenses\n \n | \n \n \n \u201311.3\n \n | \n \n \n \u201322.7\n \n | \n
| \n \n Other expenses\n \n | \n \n \n \u201330.0\n \n | \n \n \n \u201332.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total other operating expenses\n \n | \n \n \n \u2013222.4\n \n | \n \n \n \u2013217.0\n \n | \n
Other operating expenses were impacted by Crayon related acquisition and integration costs of CHF \u201335.3 million. The previous year included CHF \u201330.4 million advisory costs for the strategic review and commercial excellence program.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90068-3": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Salaries \u2013 fixed\n \n | \n \n \n \u2013551.4\n \n | \n \n \n \u2013455.4\n \n | \n
| \n \n Salaries \u2013 variable\n \n | \n \n \n \u2013100.2\n \n | \n \n \n \u201392.8\n \n | \n
| \n \n Social security costs\n \n | \n \n \n \u201398.7\n \n | \n \n \n \u201383.3\n \n | \n
| \n \n Earn-out expenses (Note 19)\n \n | \n \n \n \u20134.7\n \n | \n \n \n \u20139.6\n \n | \n
| \n \n Pension costs \u2013 defined benefit plans (Note 21)\n \n | \n \n \n \u201310.1\n \n | \n \n \n \u20135.7\n \n | \n
| \n \n Pension costs \u2013 defined contribution plans\n \n | \n \n \n \u201317.4\n \n | \n \n \n \u201311.2\n \n | \n
| \n \n Share-based payment expenses (Note 25)\n \n | \n \n \n \u201312.6\n \n | \n \n \n \u201313.0\n \n | \n
| \n \n Other personnel expenses\n \n | \n \n \n \u201327.5\n \n | \n \n \n \u201322.0\n \n | \n
| \n \n Capitalized personnel expenses\n \n | \n \n \n 42.5\n \n | \n \n \n 35.8\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total personnel expenses\n \n | \n \n \n \u2013780.1\n \n | \n \n \n \u2013657.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Average head count (FTE)\n \n | \n \n \n 10,928\n \n | \n \n \n 9,338\n \n | \n
Personnel expenses included CHF \u201317.0 million costs for restructuring (prior year: CHF \u201345.8 million) and CHF \u201311.8 million for Crayon integration (prior year: nil).
The group operates various post-employment schemes including both defined benefit and defined contribution pension plans.
The liability or asset recognized in the balance sheet in respect of defined benefit plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. Actuarial gains or losses are recognized in OCI. Service costs are presented in personnel expenses. Interest costs and interest on plan assets are netted in finance expenses.
The group\u2019s retirement plans include defined benefit pension plans in Switzerland, Belgium, Germany, Austria, India, Mexico, Ecuador, France, Italy, Turkey, Costa Rica, and Indonesia. These plans, excluding those in Switzerland, Belgium, and Germany, are unfunded and all determined by local regulations using independent actuarial valuations according to IAS 19. The group\u2019s major defined benefit plans in Switzerland accounts for 84.7%\u00a0(prior year: 84.8%) of the group\u2019s present value of funded and unfunded obligations.
The current pension arrangement for employees in Switzerland is made through a plan governed by the Swiss Federal Occupational Old Age, Survivors and Disability Pension Act (OPA). The plans of SoftwareOne\u2019s Swiss companies are administered by a separate legal foundation, which is funded by regular employer and employee contributions defined in the pension fund rules. The Swiss pension plans contain a cash balance benefit which is essentially contribution-based, with certain minimum guarantees. Due to these minimum guarantees, the Swiss plans are treated as a defined benefit plan under IFRS Accounting Standards. The plans are invested in a diversified range of assets in accordance with the investment strategy and the common criteria of asset and liability management. A potential underfunding may be remedied by various measures such as increasing employer and employee contributions or reducing future benefits.
As of December 31, 2025, 434\u00a0employees (prior year: 341 employees) and no retirees (prior year: no retirees) are insured under the Swiss plans. The defined benefit obligation has a duration of 17\u00a0years (prior year: 17 years).
| \n \n in CHF million\n \n | \n \n \n Swiss plans\n \n | \n \n \n Other plans\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Present value of funded obligations\n \n | \n \n \n 87.4\n \n | \n \n \n 6.2\n \n | \n \n \n 93.6\n \n | \n \n \n 76.1\n \n | \n
| \n \n Fair value of plan assets\n \n | \n \n \n \u201390.4\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u201395.7\n \n | \n \n \n \u201376.4\n \n | \n
| \n \n Present value of unfunded obligations\n \n | \n \n \n -\n \n | \n \n \n 9.6\n \n | \n \n \n 9.6\n \n | \n \n \n 6.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total defined benefit assets\n \n | \n \n \n 3.5\n \n | \n \n \n -\n \n | \n \n \n 3.5\n \n | \n \n \n 1.3\n \n | \n
| \n \n Total defined benefit liabilities\n \n | \n \n \n 0.5\n \n | \n \n \n 10.5\n \n | \n \n \n 11.0\n \n | \n \n \n 7.5\n \n | \n
| \n \n in CHF million\n \n | \n \n \n Swiss plans\n \n | \n \n \n Other plans\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 70.1\n \n | \n \n \n 12.5\n \n | \n \n \n 82.6\n \n | \n \n \n 68.7\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 19.1\n \n | \n \n \n 1.0\n \n | \n \n \n 20.1\n \n | \n \n \n -\n \n | \n
| \n \n Service costs\n \n | \n \n \n 5.9\n \n | \n \n \n 4.2\n \n | \n \n \n 10.1\n \n | \n \n \n 5.7\n \n | \n
| \n \n Employee contributions\n \n | \n \n \n 3.0\n \n | \n \n \n -\n \n | \n \n \n 3.0\n \n | \n \n \n 2.8\n \n | \n
| \n \n Interest cost\n \n | \n \n \n 0.8\n \n | \n \n \n 0.5\n \n | \n \n \n 1.3\n \n | \n \n \n 1.3\n \n | \n
| \n \n Actuarial losses/(gains)\n \n | \n \n \n \u20130.7\n \n | \n \n \n \u20131.1\n \n | \n \n \n \u20131.8\n \n | \n \n \n 5.5\n \n | \n
| \n \n Benefits paid/transferred\n \n | \n \n \n \u201310.8\n \n | \n \n \n \u20130.7\n \n | \n \n \n \u201311.5\n \n | \n \n \n \u20131.5\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n -\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20130.6\n \n | \n \n \n 0.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 87.4\n \n | \n \n \n 15.8\n \n | \n \n \n 103.2\n \n | \n \n \n 82.6\n \n | \n
| \n \n in CHF million\n \n | \n \n \n Swiss plans\n \n | \n \n \n Other plans\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 71.4\n \n | \n \n \n 5.0\n \n | \n \n \n 76.4\n \n | \n \n \n 59.1\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 18.9\n \n | \n \n \n -\n \n | \n \n \n 18.9\n \n | \n \n \n -\n \n | \n
| \n \n Interest income\n \n | \n \n \n 0.8\n \n | \n \n \n 0.2\n \n | \n \n \n 1.0\n \n | \n \n \n 0.9\n \n | \n
| \n \n Return on plan assets (excluding interest income)\n \n | \n \n \n 4.0\n \n | \n \n \n \u20130.3\n \n | \n \n \n 3.7\n \n | \n \n \n 11.1\n \n | \n
| \n \n Employer contributions\n \n | \n \n \n 3.1\n \n | \n \n \n 0.5\n \n | \n \n \n 3.6\n \n | \n \n \n 3.4\n \n | \n
| \n \n Employee contributions\n \n | \n \n \n 3.0\n \n | \n \n \n -\n \n | \n \n \n 3.0\n \n | \n \n \n 2.8\n \n | \n
| \n \n Benefits paid/transferred\n \n | \n \n \n \u201310.8\n \n | \n \n \n -\n \n | \n \n \n \u201310.8\n \n | \n \n \n \u20130.9\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20130.1\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 90.4\n \n | \n \n \n 5.3\n \n | \n \n \n 95.7\n \n | \n \n \n 76.4\n \n | \n
| \n \n in CHF million\n \n | \n \n \n Swiss plans\n \n | \n \n \n Other plans\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current service cost\n \n | \n \n \n 5.9\n \n | \n \n \n 4.2\n \n | \n \n \n 10.1\n \n | \n \n \n 5.7\n \n | \n
| \n \n Interest cost on defined benefit obligation\n \n | \n \n \n 0.8\n \n | \n \n \n 0.5\n \n | \n \n \n 1.3\n \n | \n \n \n 1.3\n \n | \n
| \n \n Interest on plan assets\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20131.0\n \n | \n \n \n \u20131.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total defined benefit cost recognized in income statement\n \n | \n \n \n 5.9\n \n | \n \n \n 4.5\n \n | \n \n \n 10.4\n \n | \n \n \n 6.0\n \n | \n
| \n \n Thereof finance expenses\n \n | \n \n \n -\n \n | \n \n \n 0.3\n \n | \n \n \n 0.3\n \n | \n \n \n 0.4\n \n | \n
| \n \n Thereof personnel expenses\n \n | \n \n \n 5.9\n \n | \n \n \n 4.2\n \n | \n \n \n 10.1\n \n | \n \n \n 5.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Actuarial (gain)/loss arising from demographic assumptions\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n 0.1\n \n | \n \n \n \u20130.3\n \n | \n
| \n \n Actuarial (gain)/loss arising from changes in financial assumptions\n \n | \n \n \n \u20132.4\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u20133.6\n \n | \n \n \n 7.5\n \n | \n
| \n \n Actuarial (gain)/loss arising from experience adjustments\n \n | \n \n \n 1.7\n \n | \n \n \n -\n \n | \n \n \n 1.7\n \n | \n \n \n \u20131.7\n \n | \n
| \n \n Return on plan assets excluding interest income\n \n | \n \n \n \u20134.0\n \n | \n \n \n 0.3\n \n | \n \n \n \u20133.7\n \n | \n \n \n \u201311.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total remeasurements cost recognized in OCI\n \n | \n \n \n \u20134.7\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u20135.5\n \n | \n \n \n \u20135.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total defined benefit cost\n \n | \n \n \n 1.2\n \n | \n \n \n 3.7\n \n | \n \n \n 4.9\n \n | \n \n \n 0.4\n \n | \n
| \n \n \n \n | \n \n \n Swiss plans\n \n | \n \n \n Other plans\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cash and cash equivalents\n \n | \n \n \n 1.2%\n \n | \n \n \n -\n \n | \n \n \n 1.1%\n \n | \n \n \n 0.8%\n \n | \n
| \n \n Equity instruments\n \n | \n \n \n 37.4%\n \n | \n \n \n -\n \n | \n \n \n 35.3%\n \n | \n \n \n 35.2%\n \n | \n
| \n \n Debt instruments\n \n | \n \n \n 37.5%\n \n | \n \n \n -\n \n | \n \n \n 35.4%\n \n | \n \n \n 37.3%\n \n | \n
| \n \n Real estate\n \n | \n \n \n 21.7%\n \n | \n \n \n -\n \n | \n \n \n 20.5%\n \n | \n \n \n 18.3%\n \n | \n
| \n \n Other\n \n | \n \n \n 2.2%\n \n | \n \n \n 100.0%\n \n | \n \n \n 7.7%\n \n | \n \n \n 8.4%\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 100.0%\n \n | \n \n \n 100.0%\n \n | \n \n \n 100.0%\n \n | \n \n \n 100.0%\n \n | \n
The actual return on plan assets amounted to CHF 4.7 million (prior year: CHF 12.0 million).
| \n \n \n \n | \n \n \n Swiss plans\n \n | \n \n \n Other plans\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Discount rate\n \n | \n \n \n 1.2%\n \n | \n \n \n 4.4%\n \n | \n \n \n 1.7%\n \n | \n \n \n 1.4%\n \n | \n
| \n \n Salary growth rate\n \n | \n \n \n 1.0%\n \n | \n \n \n 4.2%\n \n | \n \n \n 1.5%\n \n | \n \n \n 1.5%\n \n | \n
| \n \n \n \n | \n \n \n Change in\nassumption\n \n | \n \n \n Change in\nDBO 2025\n \n | \n \n \n Change in\nDBO 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Discount rate\n \n | \n \n \n +/\u2013 0.25bps\n \n | \n \n \n \u2013/+ 4.4%\n \n | \n \n \n \u2013/+ 4.3%\n \n | \n
| \n \n Salary growth rate\n \n | \n \n \n +/\u2013 0.25bps\n \n | \n \n \n +/\u2013 0.7%\n \n | \n \n \n +/\u2013 0.7%\n \n | \n
The above sensitivity analyses are based on a change in one assumption while holding all other assumptions constant. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the pension liability recognized in the balance sheet.
The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.
Expected employer contributions to post-employment benefit plans for the year 2026 amount to CHF 3.1 million\u00a0(prior year: CHF 2.8 million).
Key management includes members of the Board of Directors and members of the Executive Board (the Co-CEO\u2019s, CFO, COO and CHRO). Transactions with and the compensation paid or payable to key management for employee services are shown below.
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Services rendered (Board of Directors)\n \n | \n \n \n \u20131.0\n \n | \n \n \n \u20130.9\n \n | \n
| \n \n Share-based payment expenses (Board of Directors)\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n Salaries and other short-term employee benefits\n \n | \n \n \n \u20134.8\n \n | \n \n \n \u20137.1\n \n | \n
| \n \n Share-based payment expenses (Executive Board)\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u20135.8\n \n | \n
| \n \n Post-employment benefits\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20130.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n \u20137.6\n \n | \n \n \n \u201315.1\n \n | \n
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Salaries \u2013 fixed\n \n | \n \n \n \u2013551.4\n \n | \n \n \n \u2013455.4\n \n | \n
| \n \n Salaries \u2013 variable\n \n | \n \n \n \u2013100.2\n \n | \n \n \n \u201392.8\n \n | \n
| \n \n Social security costs\n \n | \n \n \n \u201398.7\n \n | \n \n \n \u201383.3\n \n | \n
| \n \n Earn-out expenses (Note 19)\n \n | \n \n \n \u20134.7\n \n | \n \n \n \u20139.6\n \n | \n
| \n \n Pension costs \u2013 defined benefit plans (Note 21)\n \n | \n \n \n \u201310.1\n \n | \n \n \n \u20135.7\n \n | \n
| \n \n Pension costs \u2013 defined contribution plans\n \n | \n \n \n \u201317.4\n \n | \n \n \n \u201311.2\n \n | \n
| \n \n Share-based payment expenses (Note 25)\n \n | \n \n \n \u201312.6\n \n | \n \n \n \u201313.0\n \n | \n
| \n \n Other personnel expenses\n \n | \n \n \n \u201327.5\n \n | \n \n \n \u201322.0\n \n | \n
| \n \n Capitalized personnel expenses\n \n | \n \n \n 42.5\n \n | \n \n \n 35.8\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total personnel expenses\n \n | \n \n \n \u2013780.1\n \n | \n \n \n \u2013657.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Average head count (FTE)\n \n | \n \n \n 10,928\n \n | \n \n \n 9,338\n \n | \n
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Travel and car expenses\n \n | \n \n \n \u201331.8\n \n | \n \n \n \u201333.7\n \n | \n
| \n \n Administrative expenses\n \n | \n \n \n \u201370.7\n \n | \n \n \n \u201366.8\n \n | \n
| \n \n Maintenance and utility expenses\n \n | \n \n \n \u201311.2\n \n | \n \n \n \u20138.1\n \n | \n
| \n \n Information technology expenses\n \n | \n \n \n \u201349.9\n \n | \n \n \n \u201336.3\n \n | \n
| \n \n Telecommunication expenses\n \n | \n \n \n \u20133.5\n \n | \n \n \n \u20132.9\n \n | \n
| \n \n Marketing expenses\n \n | \n \n \n \u201314.0\n \n | \n \n \n \u201314.4\n \n | \n
| \n \n Bad debt expenses\n \n | \n \n \n \u201311.3\n \n | \n \n \n \u201322.7\n \n | \n
| \n \n Other expenses\n \n | \n \n \n \u201330.0\n \n | \n \n \n \u201332.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total other operating expenses\n \n | \n \n \n \u2013222.4\n \n | \n \n \n \u2013217.0\n \n | \n
Other operating expenses were impacted by Crayon related acquisition and integration costs of CHF \u201335.3 million. The previous year included CHF \u201330.4 million advisory costs for the strategic review and commercial excellence program.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90096-2": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Travel and car expenses\n \n | \n \n \n \u201331.8\n \n | \n \n \n \u201333.7\n \n | \n
| \n \n Administrative expenses\n \n | \n \n \n \u201370.7\n \n | \n \n \n \u201366.8\n \n | \n
| \n \n Maintenance and utility expenses\n \n | \n \n \n \u201311.2\n \n | \n \n \n \u20138.1\n \n | \n
| \n \n Information technology expenses\n \n | \n \n \n \u201349.9\n \n | \n \n \n \u201336.3\n \n | \n
| \n \n Telecommunication expenses\n \n | \n \n \n \u20133.5\n \n | \n \n \n \u20132.9\n \n | \n
| \n \n Marketing expenses\n \n | \n \n \n \u201314.0\n \n | \n \n \n \u201314.4\n \n | \n
| \n \n Bad debt expenses\n \n | \n \n \n \u201311.3\n \n | \n \n \n \u201322.7\n \n | \n
| \n \n Other expenses\n \n | \n \n \n \u201330.0\n \n | \n \n \n \u201332.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total other operating expenses\n \n | \n \n \n \u2013222.4\n \n | \n \n \n \u2013217.0\n \n | \n
Other operating expenses were impacted by Crayon related acquisition and integration costs of CHF \u201335.3 million. The previous year included CHF \u201330.4 million advisory costs for the strategic review and commercial excellence program.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90096-3": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Travel and car expenses\n \n | \n \n \n \u201331.8\n \n | \n \n \n \u201333.7\n \n | \n
| \n \n Administrative expenses\n \n | \n \n \n \u201370.7\n \n | \n \n \n \u201366.8\n \n | \n
| \n \n Maintenance and utility expenses\n \n | \n \n \n \u201311.2\n \n | \n \n \n \u20138.1\n \n | \n
| \n \n Information technology expenses\n \n | \n \n \n \u201349.9\n \n | \n \n \n \u201336.3\n \n | \n
| \n \n Telecommunication expenses\n \n | \n \n \n \u20133.5\n \n | \n \n \n \u20132.9\n \n | \n
| \n \n Marketing expenses\n \n | \n \n \n \u201314.0\n \n | \n \n \n \u201314.4\n \n | \n
| \n \n Bad debt expenses\n \n | \n \n \n \u201311.3\n \n | \n \n \n \u201322.7\n \n | \n
| \n \n Other expenses\n \n | \n \n \n \u201330.0\n \n | \n \n \n \u201332.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total other operating expenses\n \n | \n \n \n \u2013222.4\n \n | \n \n \n \u2013217.0\n \n | \n
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest income\n \n | \n \n \n 6.6\n \n | \n \n \n 4.5\n \n | \n
| \n \n Other finance income\n \n | \n \n \n 18.4\n \n | \n \n \n 32.0\n \n | \n
| \n \n Change in fair value of contingent consideration liability\n \n | \n \n \n 0.3\n \n | \n \n \n 1.5\n \n | \n
| \n \n Finance income\n \n | \n \n \n 25.3\n \n | \n \n \n 38.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest expenses\n \n | \n \n \n \u201328.3\n \n | \n \n \n \u201318.1\n \n | \n
| \n \n Other finance expenses\n \n | \n \n \n \u201337.8\n \n | \n \n \n \u201321.1\n \n | \n
| \n \n Finance expenses\n \n | \n \n \n \u201366.1\n \n | \n \n \n \u201339.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Foreign exchange differences, net\n \n | \n \n \n \u201313.6\n \n | \n \n \n \u201310.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total finance result\n \n | \n \n \n \u201354.4\n \n | \n \n \n \u201311.4\n \n | \n
Other finance income includes CHF 3.6 million\u00a0of income from significant finance components (prior year: CHF 3.8 million) and a fair value gain of CHF 9.5 million from the valuation of equity instruments (prior year: CHF 21.5 million).
Other finance expenses include CHF \u201312.1 million\u00a0of factoring expenses (prior year: CHF \u20136.9 million)\u00a0and a CHF \u20135.0 million make-whole payment for the early repayment of Crayon\u2019s bond loan following the acquisition.
The net foreign exchange differences include\u00a0exchange losses of CHF \u201311.2 million (prior year: foreign exchange gains of CHF 1.6 million) that have been reclassified from OCI to profit and loss, refer to Note 13 Derivative financial instruments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90017-2": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest income\n \n | \n \n \n 6.6\n \n | \n \n \n 4.5\n \n | \n
| \n \n Other finance income\n \n | \n \n \n 18.4\n \n | \n \n \n 32.0\n \n | \n
| \n \n Change in fair value of contingent consideration liability\n \n | \n \n \n 0.3\n \n | \n \n \n 1.5\n \n | \n
| \n \n Finance income\n \n | \n \n \n 25.3\n \n | \n \n \n 38.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest expenses\n \n | \n \n \n \u201328.3\n \n | \n \n \n \u201318.1\n \n | \n
| \n \n Other finance expenses\n \n | \n \n \n \u201337.8\n \n | \n \n \n \u201321.1\n \n | \n
| \n \n Finance expenses\n \n | \n \n \n \u201366.1\n \n | \n \n \n \u201339.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Foreign exchange differences, net\n \n | \n \n \n \u201313.6\n \n | \n \n \n \u201310.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total finance result\n \n | \n \n \n \u201354.4\n \n | \n \n \n \u201311.4\n \n | \n
Other finance income includes CHF 3.6 million\u00a0of income from significant finance components (prior year: CHF 3.8 million) and a fair value gain of CHF 9.5 million from the valuation of equity instruments (prior year: CHF 21.5 million).
Other finance expenses include CHF \u201312.1 million\u00a0of factoring expenses (prior year: CHF \u20136.9 million)\u00a0and a CHF \u20135.0 million make-whole payment for the early repayment of Crayon\u2019s bond loan following the acquisition.
The net foreign exchange differences include\u00a0exchange losses of CHF \u201311.2 million (prior year: foreign exchange gains of CHF 1.6 million) that have been reclassified from OCI to profit and loss, refer to Note 13 Derivative financial instruments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90017-3": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest income\n \n | \n \n \n 6.6\n \n | \n \n \n 4.5\n \n | \n
| \n \n Other finance income\n \n | \n \n \n 18.4\n \n | \n \n \n 32.0\n \n | \n
| \n \n Change in fair value of contingent consideration liability\n \n | \n \n \n 0.3\n \n | \n \n \n 1.5\n \n | \n
| \n \n Finance income\n \n | \n \n \n 25.3\n \n | \n \n \n 38.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest expenses\n \n | \n \n \n \u201328.3\n \n | \n \n \n \u201318.1\n \n | \n
| \n \n Other finance expenses\n \n | \n \n \n \u201337.8\n \n | \n \n \n \u201321.1\n \n | \n
| \n \n Finance expenses\n \n | \n \n \n \u201366.1\n \n | \n \n \n \u201339.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Foreign exchange differences, net\n \n | \n \n \n \u201313.6\n \n | \n \n \n \u201310.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total finance result\n \n | \n \n \n \u201354.4\n \n | \n \n \n \u201311.4\n \n | \n
Other finance income includes CHF 3.6 million\u00a0of income from significant finance components (prior year: CHF 3.8 million) and a fair value gain of CHF 9.5 million from the valuation of equity instruments (prior year: CHF 21.5 million).
Other finance expenses include CHF \u201312.1 million\u00a0of factoring expenses (prior year: CHF \u20136.9 million)\u00a0and a CHF \u20135.0 million make-whole payment for the early repayment of Crayon\u2019s bond loan following the acquisition.
The net foreign exchange differences include\u00a0exchange losses of CHF \u201311.2 million (prior year: foreign exchange gains of CHF 1.6 million) that have been reclassified from OCI to profit and loss, refer to Note 13 Derivative financial instruments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90017-4": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest income\n \n | \n \n \n 6.6\n \n | \n \n \n 4.5\n \n | \n
| \n \n Other finance income\n \n | \n \n \n 18.4\n \n | \n \n \n 32.0\n \n | \n
| \n \n Change in fair value of contingent consideration liability\n \n | \n \n \n 0.3\n \n | \n \n \n 1.5\n \n | \n
| \n \n Finance income\n \n | \n \n \n 25.3\n \n | \n \n \n 38.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest expenses\n \n | \n \n \n \u201328.3\n \n | \n \n \n \u201318.1\n \n | \n
| \n \n Other finance expenses\n \n | \n \n \n \u201337.8\n \n | \n \n \n \u201321.1\n \n | \n
| \n \n Finance expenses\n \n | \n \n \n \u201366.1\n \n | \n \n \n \u201339.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Foreign exchange differences, net\n \n | \n \n \n \u201313.6\n \n | \n \n \n \u201310.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total finance result\n \n | \n \n \n \u201354.4\n \n | \n \n \n \u201311.4\n \n | \n
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest income\n \n | \n \n \n 6.6\n \n | \n \n \n 4.5\n \n | \n
| \n \n Other finance income\n \n | \n \n \n 18.4\n \n | \n \n \n 32.0\n \n | \n
| \n \n Change in fair value of contingent consideration liability\n \n | \n \n \n 0.3\n \n | \n \n \n 1.5\n \n | \n
| \n \n Finance income\n \n | \n \n \n 25.3\n \n | \n \n \n 38.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest expenses\n \n | \n \n \n \u201328.3\n \n | \n \n \n \u201318.1\n \n | \n
| \n \n Other finance expenses\n \n | \n \n \n \u201337.8\n \n | \n \n \n \u201321.1\n \n | \n
| \n \n Finance expenses\n \n | \n \n \n \u201366.1\n \n | \n \n \n \u201339.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Foreign exchange differences, net\n \n | \n \n \n \u201313.6\n \n | \n \n \n \u201310.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total finance result\n \n | \n \n \n \u201354.4\n \n | \n \n \n \u201311.4\n \n | \n
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest income\n \n | \n \n \n 6.6\n \n | \n \n \n 4.5\n \n | \n
| \n \n Other finance income\n \n | \n \n \n 18.4\n \n | \n \n \n 32.0\n \n | \n
| \n \n Change in fair value of contingent consideration liability\n \n | \n \n \n 0.3\n \n | \n \n \n 1.5\n \n | \n
| \n \n Finance income\n \n | \n \n \n 25.3\n \n | \n \n \n 38.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Interest expenses\n \n | \n \n \n \u201328.3\n \n | \n \n \n \u201318.1\n \n | \n
| \n \n Other finance expenses\n \n | \n \n \n \u201337.8\n \n | \n \n \n \u201321.1\n \n | \n
| \n \n Finance expenses\n \n | \n \n \n \u201366.1\n \n | \n \n \n \u201339.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Foreign exchange differences, net\n \n | \n \n \n \u201313.6\n \n | \n \n \n \u201310.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total finance result\n \n | \n \n \n \u201354.4\n \n | \n \n \n \u201311.4\n \n | \n
Tax expenses comprise the following positions:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current income taxes\n \n | \n \n \n \u201351.6\n \n | \n \n \n \u201337.7\n \n | \n
| \n \n Change in deferred taxes\n \n | \n \n \n 23.5\n \n | \n \n \n 4.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total income tax expenses\n \n | \n \n \n \u201328.1\n \n | \n \n \n \u201333.5\n \n | \n
The tax on the group\u2019s profit before tax differs from the theoretical amount that would result in using the weighted average tax rate applicable to profits of the consolidated entities as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Earnings before income tax (EBT)\n \n | \n \n \n 29.5\n \n | \n \n \n 31.9\n \n | \n
| \n \n Expected average group tax rate\n \n | \n \n \n 23.1%\n \n | \n \n \n 39.4%\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Tax at expected average rate\n \n | \n \n \n \u20136.8\n \n | \n \n \n \u201312.6\n \n | \n
| \n \n +/\u2013 Effect of\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Expenses not deductible for tax purposes\n \n | \n \n \n \u201313.0\n \n | \n \n \n \u201311.7\n \n | \n
| \n \n Income not subject to tax\n \n | \n \n \n 2.2\n \n | \n \n \n 3.5\n \n | \n
| \n \n Utilization of previously unrecognized tax losses and interest limitations\n \n | \n \n \n 1.6\n \n | \n \n \n 0.1\n \n | \n
| \n \n Impairment of previously recognized tax losses and interest limitations\n \n | \n \n \n \u20132.5\n \n | \n \n \n \u20130.5\n \n | \n
| \n \n Capitalization of previously unrecognized tax losses and interest limitations\n \n | \n \n \n 5.1\n \n | \n \n \n 0.9\n \n | \n
| \n \n Unrecognized current year\u2019s tax losses and interest limitations\n \n | \n \n \n \u201310.8\n \n | \n \n \n \u20139.1\n \n | \n
| \n \n Current income tax charges/credits related to prior periods\n \n | \n \n \n \u20130.7\n \n | \n \n \n \u20133.2\n \n | \n
| \n \n Impact from tax rate changes\n \n | \n \n \n 0.7\n \n | \n \n \n \u20131.1\n \n | \n
| \n \n Other effects\n \n | \n \n \n \u20133.9\n \n | \n \n \n 0.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total income tax expenses\n \n | \n \n \n \u201328.1\n \n | \n \n \n \u201333.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Effective tax rate\n \n | \n \n \n 95.3%\n \n | \n \n \n 105.0%\n \n | \n
The group\u2019s expected average tax rate is the aggregate obtained by applying the expected tax rate for each individual jurisdiction to its respective results before taxes. These results vary in different jurisdictions. Crayon as a group has been considered as well to determine the average expected tax rate. The weighted average expected tax rate is 23.1% (prior year: 39.4%).
The group has not recognized deferred tax assets of CHF 10.8 million\u00a0(prior year: CHF 9.1 million) in respect of losses CHF \u201342.5 million (prior year: CHF \u201335.6 million) for the period ended December 31, 2025.
Other effects in 2025 are mainly related to withholding taxes on intercompany transactions and additional local taxes, as in the prior year.
Deferred tax expenses of CHF \u20130.6 million (prior year: deferred tax income of CHF \u20131.1 million) was recorded in other comprehensive income, relating to actuarial gains on defined benefit liabilities and hedge accounting.
Deferred tax assets and liabilities are based on the temporary differences between group valuation and tax bases.
| \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n Deferred tax\nassets\n \n | \n \n \n Deferred tax\nliabilities\n \n | \n \n \n Deferred tax\nassets\n \n | \n \n \n Deferred tax\nliabilities\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 8.1\n \n | \n \n \n 4.9\n \n | \n \n \n 6.2\n \n | \n \n \n 1.5\n \n | \n
| \n \n Other current assets\n \n | \n \n \n 2.8\n \n | \n \n \n 3.7\n \n | \n \n \n 2.4\n \n | \n \n \n 3.9\n \n | \n
| \n \n Tangible, intangible and right-of-use assets\n \n | \n \n \n 5.3\n \n | \n \n \n 90.8\n \n | \n \n \n 4.2\n \n | \n \n \n 21.8\n \n | \n
| \n \n Other non-current assets\n \n | \n \n \n 1.5\n \n | \n \n \n 1.9\n \n | \n \n \n 0.1\n \n | \n \n \n 2.6\n \n | \n
| \n \n Accrued expenses and contract liabilities\n \n | \n \n \n 7.3\n \n | \n \n \n 5.2\n \n | \n \n \n 5.7\n \n | \n \n \n 5.7\n \n | \n
| \n \n Other current liabilities\n \n | \n \n \n 7.2\n \n | \n \n \n 0.2\n \n | \n \n \n 9.8\n \n | \n \n \n 0.7\n \n | \n
| \n \n Defined benefit liabilities\n \n | \n \n \n 1.2\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n
| \n \n Other non-current liabilities\n \n | \n \n \n 9.6\n \n | \n \n \n 0.6\n \n | \n \n \n 6.2\n \n | \n \n \n 1.2\n \n | \n
| \n \n Deferred taxes from losses carried forward\n \n | \n \n \n 22.6\n \n | \n \n \n -\n \n | \n \n \n 7.8\n \n | \n \n \n -\n \n | \n
| \n \n Deferred taxes from interest limitations\n \n | \n \n \n 7.2\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 72.8\n \n | \n \n \n 107.3\n \n | \n \n \n 43.3\n \n | \n \n \n 37.4\n \n | \n
| \n \n Offsetting of balances\n \n | \n \n \n \u201324.2\n \n | \n \n \n \u201324.2\n \n | \n \n \n \u201316.1\n \n | \n \n \n \u201316.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 48.6\n \n | \n \n \n 83.1\n \n | \n \n \n 27.2\n \n | \n \n \n 21.3\n \n | \n
For some group companies, dividend payments are subject to a withholding tax which cannot be fully recovered in Switzerland. The company has not recognized deferred tax liabilities associated with investments in subsidiaries where the group is able to control the reversal of the temporary differences and where it is probable that the temporary differences will not reverse in the foreseeable future.
The aggregate amount of temporary differences associated with investments in subsidiaries for which no deferred tax liabilities or assets have been recognized was CHF 62.8 million (prior year: CHF 15.1 million).
The movement of available tax loss carry forwards is as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 127.9\n \n | \n \n \n 89.3\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 112.2\n \n | \n \n \n -\n \n | \n
| \n \n Tax losses arising in current year\n \n | \n \n \n 99.2\n \n | \n \n \n 41.2\n \n | \n
| \n \n Tax losses utilized against current year profits\n \n | \n \n \n \u201335.1\n \n | \n \n \n \u201313.6\n \n | \n
| \n \n Expired tax losses during the period\n \n | \n \n \n \u20138.1\n \n | \n \n \n \u20133.0\n \n | \n
| \n \n Other movements\n \n | \n \n \n \u20138.0\n \n | \n \n \n 13.0\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20135.5\n \n | \n \n \n 1.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 282.6\n \n | \n \n \n 127.9\n \n | \n
In addition to tax losses, the group has interest carry forwards of CHF 44.4 million related to Crayon subsidiaries in the US and Norway (prior year: nil).
Deferred tax assets of\u00a0CHF 22.6 million\u00a0(prior year: CHF 7.8 million) were recorded in respect of available tax loss carry forwards of CHF \u2013111.4 million (prior year: CHF \u201329.8 million).
Tax losses, for which no deferred tax asset was recognized, will expire as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Expiry within 12 months\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u20133.4\n \n | \n
| \n \n Expiry in 1-2 years\n \n | \n \n \n \u20136.5\n \n | \n \n \n \u20133.0\n \n | \n
| \n \n Expiry in 2-3 years\n \n | \n \n \n \u201315.2\n \n | \n \n \n \u20136.9\n \n | \n
| \n \n Expiry in 4-5 years\n \n | \n \n \n \u201328.2\n \n | \n \n \n \u201323.7\n \n | \n
| \n \n Expiry in more than 5 years\n \n | \n \n \n \u201321.0\n \n | \n \n \n \u201325.3\n \n | \n
| \n \n No expiry date\n \n | \n \n \n \u201399.4\n \n | \n \n \n \u201335.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total unrecognized tax losses\n \n | \n \n \n \u2013171.1\n \n | \n \n \n \u201397.9\n \n | \n
In addition to tax losses for which no deferred tax asset was recognized, the group has unrecognized interest carry forwards of CHF \u201311.6 million related to Crayon subsidiaries in the US and Norway (prior year: nil).
SoftwareOne applies the mandatory exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes. Pillar Two legislation has been enacted or substantively enacted in certain jurisdictions where the group operates. SoftwareOne is in scope of the enacted or substantively enacted legislation and has performed an assessment of the group\u2019s potential exposure to Pillar Two income taxes. The assessment of the potential exposure to Pillar Two income taxes is based on the most recent tax filings, country-by-country reporting and financial statements for the constituent entities in the group. Based on the assessment, SoftwareOne expects to meet one or more safe harbor tests in most of the jurisdictions in which the group operates. Pillar Two effective tax rates in most of the jurisdictions are above 15%. SoftwareOne does not expect any material exposure to Pillar Two income taxes.
The group\u2019s current tax expenses in connection with the Pillar Two income taxes amount to nil (prior year: nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90028-2": { "value": "Deferred tax assets and liabilities are based on the temporary differences between group valuation and tax bases.
For some group companies, dividend payments are subject to a withholding tax which cannot be fully recovered in Switzerland. The company has not recognized deferred tax liabilities associated with investments in subsidiaries where the group is able to control the reversal of the temporary differences and where it is probable that the temporary differences will not reverse in the foreseeable future.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90028-3": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current income taxes\n \n | \n \n \n \u201351.6\n \n | \n \n \n \u201337.7\n \n | \n
| \n \n Change in deferred taxes\n \n | \n \n \n 23.5\n \n | \n \n \n 4.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total income tax expenses\n \n | \n \n \n \u201328.1\n \n | \n \n \n \u201333.5\n \n | \n
The group has not recognized deferred tax assets of CHF 10.8 million\u00a0(prior year: CHF 9.1 million) in respect of losses CHF \u201342.5 million (prior year: CHF \u201335.6 million) for the period ended December 31, 2025.
Deferred tax expenses of CHF \u20130.6 million (prior year: deferred tax income of CHF \u20131.1 million) was recorded in other comprehensive income, relating to actuarial gains on defined benefit liabilities and hedge accounting.
Deferred tax assets and liabilities are based on the temporary differences between group valuation and tax bases.
| \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||
| \n \n in CHF million\n \n | \n \n \n Deferred tax\nassets\n \n | \n \n \n Deferred tax\nliabilities\n \n | \n \n \n Deferred tax\nassets\n \n | \n \n \n Deferred tax\nliabilities\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables\n \n | \n \n \n 8.1\n \n | \n \n \n 4.9\n \n | \n \n \n 6.2\n \n | \n \n \n 1.5\n \n | \n
| \n \n Other current assets\n \n | \n \n \n 2.8\n \n | \n \n \n 3.7\n \n | \n \n \n 2.4\n \n | \n \n \n 3.9\n \n | \n
| \n \n Tangible, intangible and right-of-use assets\n \n | \n \n \n 5.3\n \n | \n \n \n 90.8\n \n | \n \n \n 4.2\n \n | \n \n \n 21.8\n \n | \n
| \n \n Other non-current assets\n \n | \n \n \n 1.5\n \n | \n \n \n 1.9\n \n | \n \n \n 0.1\n \n | \n \n \n 2.6\n \n | \n
| \n \n Accrued expenses and contract liabilities\n \n | \n \n \n 7.3\n \n | \n \n \n 5.2\n \n | \n \n \n 5.7\n \n | \n \n \n 5.7\n \n | \n
| \n \n Other current liabilities\n \n | \n \n \n 7.2\n \n | \n \n \n 0.2\n \n | \n \n \n 9.8\n \n | \n \n \n 0.7\n \n | \n
| \n \n Defined benefit liabilities\n \n | \n \n \n 1.2\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n
| \n \n Other non-current liabilities\n \n | \n \n \n 9.6\n \n | \n \n \n 0.6\n \n | \n \n \n 6.2\n \n | \n \n \n 1.2\n \n | \n
| \n \n Deferred taxes from losses carried forward\n \n | \n \n \n 22.6\n \n | \n \n \n -\n \n | \n \n \n 7.8\n \n | \n \n \n -\n \n | \n
| \n \n Deferred taxes from interest limitations\n \n | \n \n \n 7.2\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 72.8\n \n | \n \n \n 107.3\n \n | \n \n \n 43.3\n \n | \n \n \n 37.4\n \n | \n
| \n \n Offsetting of balances\n \n | \n \n \n \u201324.2\n \n | \n \n \n \u201324.2\n \n | \n \n \n \u201316.1\n \n | \n \n \n \u201316.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 48.6\n \n | \n \n \n 83.1\n \n | \n \n \n 27.2\n \n | \n \n \n 21.3\n \n | \n
For some group companies, dividend payments are subject to a withholding tax which cannot be fully recovered in Switzerland. The company has not recognized deferred tax liabilities associated with investments in subsidiaries where the group is able to control the reversal of the temporary differences and where it is probable that the temporary differences will not reverse in the foreseeable future.
The aggregate amount of temporary differences associated with investments in subsidiaries for which no deferred tax liabilities or assets have been recognized was CHF 62.8 million (prior year: CHF 15.1 million).
The movement of available tax loss carry forwards is as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 127.9\n \n | \n \n \n 89.3\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 112.2\n \n | \n \n \n -\n \n | \n
| \n \n Tax losses arising in current year\n \n | \n \n \n 99.2\n \n | \n \n \n 41.2\n \n | \n
| \n \n Tax losses utilized against current year profits\n \n | \n \n \n \u201335.1\n \n | \n \n \n \u201313.6\n \n | \n
| \n \n Expired tax losses during the period\n \n | \n \n \n \u20138.1\n \n | \n \n \n \u20133.0\n \n | \n
| \n \n Other movements\n \n | \n \n \n \u20138.0\n \n | \n \n \n 13.0\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20135.5\n \n | \n \n \n 1.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 282.6\n \n | \n \n \n 127.9\n \n | \n
In addition to tax losses, the group has interest carry forwards of CHF 44.4 million related to Crayon subsidiaries in the US and Norway (prior year: nil).
Deferred tax assets of\u00a0CHF 22.6 million\u00a0(prior year: CHF 7.8 million) were recorded in respect of available tax loss carry forwards of CHF \u2013111.4 million (prior year: CHF \u201329.8 million).
Tax losses, for which no deferred tax asset was recognized, will expire as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Expiry within 12 months\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u20133.4\n \n | \n
| \n \n Expiry in 1-2 years\n \n | \n \n \n \u20136.5\n \n | \n \n \n \u20133.0\n \n | \n
| \n \n Expiry in 2-3 years\n \n | \n \n \n \u201315.2\n \n | \n \n \n \u20136.9\n \n | \n
| \n \n Expiry in 4-5 years\n \n | \n \n \n \u201328.2\n \n | \n \n \n \u201323.7\n \n | \n
| \n \n Expiry in more than 5 years\n \n | \n \n \n \u201321.0\n \n | \n \n \n \u201325.3\n \n | \n
| \n \n No expiry date\n \n | \n \n \n \u201399.4\n \n | \n \n \n \u201335.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total unrecognized tax losses\n \n | \n \n \n \u2013171.1\n \n | \n \n \n \u201397.9\n \n | \n
In addition to tax losses for which no deferred tax asset was recognized, the group has unrecognized interest carry forwards of CHF \u201311.6 million related to Crayon subsidiaries in the US and Norway (prior year: nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90028-4": { "value": "Deferred tax assets and liabilities are based on the temporary differences between group valuation and tax bases.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90089-1": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables, gross\n \n | \n \n \n 3,478.3\n \n | \n \n \n 2,655.1\n \n | \n
| \n \n Less provision for impairment of trade receivables\n \n | \n \n \n \u201353.8\n \n | \n \n \n \u201339.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade receivables\n \n | \n \n \n 3,424.5\n \n | \n \n \n 2,616.0\n \n | \n
Trade receivables are non-interest bearing and are generally on terms of 30 to 90 days.
For trade receivables and contract assets, the group applies a simplified approach in calculating an allowance for expected credit losses (ECLs). Therefore, the group does not track changes in credit risk. Instead, it recognizes a loss allowance based on lifetime ECLs at each reporting date. The group has established a provision matrix that is based on the group\u2019s historical observed default rates. The group calibrates the matrix to adjust the historical credit loss experience with forward-looking information. For instance, if forecast economic conditions (i.e., gross domestic product) are expected to deteriorate over the next year, which can lead to an increased number of defaults, the default rates are adjusted.
The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e., geographical region and customer rating and coverage by letters of credit or other forms of credit insurance). The calculation reflects the probability weighted outcome and reasonable and supportable information that is available at the reporting date about past events, current conditions, and forecasts of future economic conditions.
At each reporting date, the historical observed default rates are updated and changes in the forward-looking estimates are analyzed.
The aging of the receivables and the related lifetime ECLs for the 2025 and 2024 years are as follows:
| \n \n 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \nExpected\ncredit loss rate\n \n | \n \n \n Estimated total\ngross carrying\namount at default\n \n | \n \n \n \nExpected\ncredit loss\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Not past due\n \n | \n \n \n 0.0%\n \n | \n \n \n 2,808.3\n \n | \n \n \n \u20130.7\n \n | \n
| \n \n 1\u201390 days past due\n \n | \n \n \n \u20130.1%\n \n | \n \n \n 448.8\n \n | \n \n \n \u20130.5\n \n | \n
| \n \n 91\u2013180 days past due\n \n | \n \n \n \u20130.7%\n \n | \n \n \n 85.3\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n 181\u2013360 days past due\n \n | \n \n \n \u201324.3%\n \n | \n \n \n 46.5\n \n | \n \n \n \u201311.3\n \n | \n
| \n \n More than 360 days past due\n \n | \n \n \n \u201345.5%\n \n | \n \n \n 89.4\n \n | \n \n \n \u201340.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade receivables, gross\nincl. expected credit loss\n \n | \n \n \n \u20131.5%\n \n | \n \n \n 3,478.3\n \n | \n \n \n \u201353.8\n \n | \n
| \n \n 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \nExpected\ncredit loss rate\n \n | \n \n \n Estimated total\ngross carrying\namount at default\n \n | \n \n \n \nExpected\ncredit loss\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Not past due\n \n | \n \n \n 0.0%\n \n | \n \n \n 2,155.3\n \n | \n \n \n \u20130.8\n \n | \n
| \n \n 1\u201390 days past due\n \n | \n \n \n \u20130.1%\n \n | \n \n \n 364.3\n \n | \n \n \n \u20130.5\n \n | \n
| \n \n 91\u2013180 days past due\n \n | \n \n \n \u20132.7%\n \n | \n \n \n 59.7\n \n | \n \n \n \u20131.6\n \n | \n
| \n \n 181\u2013360 days past due\n \n | \n \n \n \u201327.8%\n \n | \n \n \n 34.9\n \n | \n \n \n \u20139.7\n \n | \n
| \n \n More than 360 days past due\n \n | \n \n \n \u201364.9%\n \n | \n \n \n 40.9\n \n | \n \n \n \u201326.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade receivables, gross\nincl. expected credit loss\n \n | \n \n \n \u20131.5%\n \n | \n \n \n 2,655.1\n \n | \n \n \n \u201339.1\n \n | \n
Movements in the group\u2019s provision for impairment of trade receivables are as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n \u201339.1\n \n | \n \n \n \u201326.3\n \n | \n
| \n \n Allowance recognized\n \n | \n \n \n \u201318.0\n \n | \n \n \n \u201327.3\n \n | \n
| \n \n Receivables written off during the year as uncollectible\n \n | \n \n \n 2.4\n \n | \n \n \n 6.5\n \n | \n
| \n \n Unused amounts reversed\n \n | \n \n \n 2.0\n \n | \n \n \n 8.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20131.1\n \n | \n \n \n \u20130.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n \u201353.8\n \n | \n \n \n \u201339.1\n \n | \n
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade receivables, gross\n \n | \n \n \n 3,478.3\n \n | \n \n \n 2,655.1\n \n | \n
| \n \n Less provision for impairment of trade receivables\n \n | \n \n \n \u201353.8\n \n | \n \n \n \u201339.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade receivables\n \n | \n \n \n 3,424.5\n \n | \n \n \n 2,616.0\n \n | \n
Trade receivables are non-interest bearing and are generally on terms of 30 to 90 days.
For trade receivables and contract assets, the group applies a simplified approach in calculating an allowance for expected credit losses (ECLs). Therefore, the group does not track changes in credit risk. Instead, it recognizes a loss allowance based on lifetime ECLs at each reporting date. The group has established a provision matrix that is based on the group\u2019s historical observed default rates. The group calibrates the matrix to adjust the historical credit loss experience with forward-looking information. For instance, if forecast economic conditions (i.e., gross domestic product) are expected to deteriorate over the next year, which can lead to an increased number of defaults, the default rates are adjusted.
The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e., geographical region and customer rating and coverage by letters of credit or other forms of credit insurance). The calculation reflects the probability weighted outcome and reasonable and supportable information that is available at the reporting date about past events, current conditions, and forecasts of future economic conditions.
At each reporting date, the historical observed default rates are updated and changes in the forward-looking estimates are analyzed.
The aging of the receivables and the related lifetime ECLs for the 2025 and 2024 years are as follows:
| \n \n 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \nExpected\ncredit loss rate\n \n | \n \n \n Estimated total\ngross carrying\namount at default\n \n | \n \n \n \nExpected\ncredit loss\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Not past due\n \n | \n \n \n 0.0%\n \n | \n \n \n 2,808.3\n \n | \n \n \n \u20130.7\n \n | \n
| \n \n 1\u201390 days past due\n \n | \n \n \n \u20130.1%\n \n | \n \n \n 448.8\n \n | \n \n \n \u20130.5\n \n | \n
| \n \n 91\u2013180 days past due\n \n | \n \n \n \u20130.7%\n \n | \n \n \n 85.3\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n 181\u2013360 days past due\n \n | \n \n \n \u201324.3%\n \n | \n \n \n 46.5\n \n | \n \n \n \u201311.3\n \n | \n
| \n \n More than 360 days past due\n \n | \n \n \n \u201345.5%\n \n | \n \n \n 89.4\n \n | \n \n \n \u201340.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade receivables, gross\nincl. expected credit loss\n \n | \n \n \n \u20131.5%\n \n | \n \n \n 3,478.3\n \n | \n \n \n \u201353.8\n \n | \n
| \n \n 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n \nExpected\ncredit loss rate\n \n | \n \n \n Estimated total\ngross carrying\namount at default\n \n | \n \n \n \nExpected\ncredit loss\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Not past due\n \n | \n \n \n 0.0%\n \n | \n \n \n 2,155.3\n \n | \n \n \n \u20130.8\n \n | \n
| \n \n 1\u201390 days past due\n \n | \n \n \n \u20130.1%\n \n | \n \n \n 364.3\n \n | \n \n \n \u20130.5\n \n | \n
| \n \n 91\u2013180 days past due\n \n | \n \n \n \u20132.7%\n \n | \n \n \n 59.7\n \n | \n \n \n \u20131.6\n \n | \n
| \n \n 181\u2013360 days past due\n \n | \n \n \n \u201327.8%\n \n | \n \n \n 34.9\n \n | \n \n \n \u20139.7\n \n | \n
| \n \n More than 360 days past due\n \n | \n \n \n \u201364.9%\n \n | \n \n \n 40.9\n \n | \n \n \n \u201326.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade receivables, gross\nincl. expected credit loss\n \n | \n \n \n \u20131.5%\n \n | \n \n \n 2,655.1\n \n | \n \n \n \u201339.1\n \n | \n
Movements in the group\u2019s provision for impairment of trade receivables are as follows:
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n \u201339.1\n \n | \n \n \n \u201326.3\n \n | \n
| \n \n Allowance recognized\n \n | \n \n \n \u201318.0\n \n | \n \n \n \u201327.3\n \n | \n
| \n \n Receivables written off during the year as uncollectible\n \n | \n \n \n 2.4\n \n | \n \n \n 6.5\n \n | \n
| \n \n Unused amounts reversed\n \n | \n \n \n 2.0\n \n | \n \n \n 8.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20131.1\n \n | \n \n \n \u20130.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n \u201353.8\n \n | \n \n \n \u201339.1\n \n | \n
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n 131.1\n \n | \n \n \n 102.5\n \n | \n
| \n \n \u2013 thereof financial assets: 15.0 (prior year: 10.2)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Prepayments\n \n | \n \n \n 40.3\n \n | \n \n \n 23.6\n \n | \n
| \n \n Contract assets\n \n | \n \n \n 163.6\n \n | \n \n \n 98.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other current receivables, prepayments and \ncontract assets\n \n | \n \n \n 335.0\n \n | \n \n \n 224.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 536.5\n \n | \n \n \n 329.7\n \n | \n
| \n \n \u2013 thereof financial assets: 516.2 (prior year: 318.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current receivables\n \n | \n \n \n 536.5\n \n | \n \n \n 329.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total other receivables, prepayments and contract assets\n \n | \n \n \n 871.5\n \n | \n \n \n 554.3\n \n | \n
Current other receivables mainly include VAT and other sales tax receivables.
Contract assets are initially recognized for services as receipt of consideration is conditional on successful completion of the service. Upon completion of the service and acceptance by the customer, the amounts recognized as contract assets are reclassified to trade receivables. In addition, SoftwareOne recognizes contract assets for revenue recognized upfront in connection with multi-year licensing contracts in which the end customer has the right to change the software reseller during the contract term.
Of the contract assets, CHF 56.5 million results from the acquisition of Crayon as of July 2, 2025.
Other non-current receivables include CHF 507.8 million of\u00a0non-current trade receivables for multi-year contracts (prior year: CHF 311.8 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90056-2": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n 131.1\n \n | \n \n \n 102.5\n \n | \n
| \n \n \u2013 thereof financial assets: 15.0 (prior year: 10.2)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Prepayments\n \n | \n \n \n 40.3\n \n | \n \n \n 23.6\n \n | \n
| \n \n Contract assets\n \n | \n \n \n 163.6\n \n | \n \n \n 98.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other current receivables, prepayments and \ncontract assets\n \n | \n \n \n 335.0\n \n | \n \n \n 224.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 536.5\n \n | \n \n \n 329.7\n \n | \n
| \n \n \u2013 thereof financial assets: 516.2 (prior year: 318.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current receivables\n \n | \n \n \n 536.5\n \n | \n \n \n 329.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total other receivables, prepayments and contract assets\n \n | \n \n \n 871.5\n \n | \n \n \n 554.3\n \n | \n
Current other receivables mainly include VAT and other sales tax receivables.
Contract assets are initially recognized for services as receipt of consideration is conditional on successful completion of the service. Upon completion of the service and acceptance by the customer, the amounts recognized as contract assets are reclassified to trade receivables. In addition, SoftwareOne recognizes contract assets for revenue recognized upfront in connection with multi-year licensing contracts in which the end customer has the right to change the software reseller during the contract term.
Of the contract assets, CHF 56.5 million results from the acquisition of Crayon as of July 2, 2025.
Other non-current receivables include CHF 507.8 million of\u00a0non-current trade receivables for multi-year contracts (prior year: CHF 311.8 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90056-3": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n 131.1\n \n | \n \n \n 102.5\n \n | \n
| \n \n \u2013 thereof financial assets: 15.0 (prior year: 10.2)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Prepayments\n \n | \n \n \n 40.3\n \n | \n \n \n 23.6\n \n | \n
| \n \n Contract assets\n \n | \n \n \n 163.6\n \n | \n \n \n 98.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other current receivables, prepayments and \ncontract assets\n \n | \n \n \n 335.0\n \n | \n \n \n 224.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 536.5\n \n | \n \n \n 329.7\n \n | \n
| \n \n \u2013 thereof financial assets: 516.2 (prior year: 318.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current receivables\n \n | \n \n \n 536.5\n \n | \n \n \n 329.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total other receivables, prepayments and contract assets\n \n | \n \n \n 871.5\n \n | \n \n \n 554.3\n \n | \n
Current other receivables mainly include VAT and other sales tax receivables.
Contract assets are initially recognized for services as receipt of consideration is conditional on successful completion of the service. Upon completion of the service and acceptance by the customer, the amounts recognized as contract assets are reclassified to trade receivables. In addition, SoftwareOne recognizes contract assets for revenue recognized upfront in connection with multi-year licensing contracts in which the end customer has the right to change the software reseller during the contract term.
Of the contract assets, CHF 56.5 million results from the acquisition of Crayon as of July 2, 2025.
Other non-current receivables include CHF 507.8 million of\u00a0non-current trade receivables for multi-year contracts (prior year: CHF 311.8 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90056-4": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other receivables\n \n | \n \n \n 131.1\n \n | \n \n \n 102.5\n \n | \n
| \n \n \u2013 thereof financial assets: 15.0 (prior year: 10.2)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Prepayments\n \n | \n \n \n 40.3\n \n | \n \n \n 23.6\n \n | \n
| \n \n Contract assets\n \n | \n \n \n 163.6\n \n | \n \n \n 98.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other current receivables, prepayments and \ncontract assets\n \n | \n \n \n 335.0\n \n | \n \n \n 224.6\n \n | \n
| \n \n Other receivables\n \n | \n \n \n 536.5\n \n | \n \n \n 329.7\n \n | \n
| \n \n \u2013 thereof financial assets: 516.2 (prior year: 318.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current receivables\n \n | \n \n \n 536.5\n \n | \n \n \n 329.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total other receivables, prepayments and contract assets\n \n | \n \n \n 871.5\n \n | \n \n \n 554.3\n \n | \n
Other non-current receivables include CHF 507.8 million of\u00a0non-current trade receivables for multi-year contracts (prior year: CHF 311.8 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90110-1": { "value": "Tangible assets are stated at historical cost less depreciation and impairment. Depreciation is calculated using the straight-line method over the expected useful life as follows:
| \n \n in CHF million\n \n | \n \n \n \n\nLand\n \n | \n \n \n \n\nBuildings\n \n | \n \n \n \nIT\nequipment\n \n | \n \n \n Leasehold\nimprove-\nments\n \n | \n \n \n \nFurniture\nand fixtures\n \n | \n \n \n \nOther\nequipment\n \n | \n \n \n \n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 3.4\n \n | \n \n \n 16.7\n \n | \n \n \n 19.4\n \n | \n \n \n 10.1\n \n | \n \n \n 7.3\n \n | \n \n \n 1.7\n \n | \n \n \n 58.6\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 5.6\n \n | \n \n \n 3.4\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 9.0\n \n | \n
| \n \n Additions\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 4.3\n \n | \n \n \n 1.1\n \n | \n \n \n 0.3\n \n | \n \n \n 0.3\n \n | \n \n \n 6.0\n \n | \n
| \n \n Disposals\n \n | \n \n \n -\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20131.9\n \n | \n \n \n \u20131.3\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20134.0\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n \u20131.4\n \n | \n \n \n \u20130.7\n \n | \n \n \n \u20130.3\n \n | \n \n \n -\n \n | \n \n \n \u20132.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 3.4\n \n | \n \n \n 16.6\n \n | \n \n \n 26.0\n \n | \n \n \n 12.6\n \n | \n \n \n 7.0\n \n | \n \n \n 1.7\n \n | \n \n \n 67.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated depreciation/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n -\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201314.4\n \n | \n \n \n \u20134.5\n \n | \n \n \n \u20134.3\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u201326.4\n \n | \n
| \n \n Depreciation\n \n | \n \n \n -\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20134.6\n \n | \n \n \n \u20132.6\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20138.7\n \n | \n
| \n \n Disposals\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 1.8\n \n | \n \n \n 1.2\n \n | \n \n \n 0.2\n \n | \n \n \n 0.3\n \n | \n \n \n 3.5\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 0.8\n \n | \n \n \n 0.3\n \n | \n \n \n 0.2\n \n | \n \n \n -\n \n | \n \n \n 1.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n -\n \n | \n \n \n \u20132.4\n \n | \n \n \n \u201316.4\n \n | \n \n \n \u20135.6\n \n | \n \n \n \u20134.7\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u201330.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2025\n \n | \n \n \n 3.4\n \n | \n \n \n 14.2\n \n | \n \n \n 9.6\n \n | \n \n \n 7.0\n \n | \n \n \n 2.3\n \n | \n \n \n 0.5\n \n | \n \n \n 37.0\n \n | \n
As of December 31, 2025, and 2024, there were no contractual commitments for the purchase of tangible assets, and no impairment was required.
| \n \n in CHF million\n \n | \n \n \n \n\nLand\n \n | \n \n \n \n\nBuildings\n \n | \n \n \n \nIT\nequipment\n \n | \n \n \n Leasehold\nimprove-\nments\n \n | \n \n \n \nFurniture\nand fixtures\n \n | \n \n \n \nOther\nequipment\n \n | \n \n \n \n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n 3.5\n \n | \n \n \n 15.9\n \n | \n \n \n 18.3\n \n | \n \n \n 7.0\n \n | \n \n \n 6.0\n \n | \n \n \n 2.2\n \n | \n \n \n 52.9\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n -\n \n | \n \n \n 0.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 0.7\n \n | \n
| \n \n Additions\n \n | \n \n \n -\n \n | \n \n \n 0.5\n \n | \n \n \n 3.5\n \n | \n \n \n 3.7\n \n | \n \n \n 1.6\n \n | \n \n \n 0.1\n \n | \n \n \n 9.4\n \n | \n
| \n \n Disposals\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20130.7\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20134.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20130.4\n \n | \n \n \n 0.3\n \n | \n \n \n 0.1\n \n | \n \n \n 0.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 3.4\n \n | \n \n \n 16.7\n \n | \n \n \n 19.4\n \n | \n \n \n 10.1\n \n | \n \n \n 7.3\n \n | \n \n \n 1.7\n \n | \n \n \n 58.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated depreciation/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n -\n \n | \n \n \n \u20131.6\n \n | \n \n \n \u201313.5\n \n | \n \n \n \u20134.0\n \n | \n \n \n \u20133.9\n \n | \n \n \n \u20131.4\n \n | \n \n \n \u201324.4\n \n | \n
| \n \n Depreciation\n \n | \n \n \n -\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20133.3\n \n | \n \n \n \u20131.1\n \n | \n \n \n \u20130.7\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20135.8\n \n | \n
| \n \n Disposals\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 2.6\n \n | \n \n \n 0.6\n \n | \n \n \n 0.4\n \n | \n \n \n 0.5\n \n | \n \n \n 4.1\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20130.2\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n -\n \n | \n \n \n \u20130.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n -\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201314.4\n \n | \n \n \n \u20134.5\n \n | \n \n \n \u20134.3\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u201326.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2024\n \n | \n \n \n 3.4\n \n | \n \n \n 14.7\n \n | \n \n \n 5.0\n \n | \n \n \n 5.6\n \n | \n \n \n 3.0\n \n | \n \n \n 0.5\n \n | \n \n \n 32.2\n \n | \n
Tangible assets are stated at historical cost less depreciation and impairment. Depreciation is calculated using the straight-line method over the expected useful life as follows:
| \n \n in CHF million\n \n | \n \n \n \n\nLand\n \n | \n \n \n \n\nBuildings\n \n | \n \n \n \nIT\nequipment\n \n | \n \n \n Leasehold\nimprove-\nments\n \n | \n \n \n \nFurniture\nand fixtures\n \n | \n \n \n \nOther\nequipment\n \n | \n \n \n \n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 3.4\n \n | \n \n \n 16.7\n \n | \n \n \n 19.4\n \n | \n \n \n 10.1\n \n | \n \n \n 7.3\n \n | \n \n \n 1.7\n \n | \n \n \n 58.6\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 5.6\n \n | \n \n \n 3.4\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 9.0\n \n | \n
| \n \n Additions\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 4.3\n \n | \n \n \n 1.1\n \n | \n \n \n 0.3\n \n | \n \n \n 0.3\n \n | \n \n \n 6.0\n \n | \n
| \n \n Disposals\n \n | \n \n \n -\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20131.9\n \n | \n \n \n \u20131.3\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20134.0\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n \u20131.4\n \n | \n \n \n \u20130.7\n \n | \n \n \n \u20130.3\n \n | \n \n \n -\n \n | \n \n \n \u20132.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 3.4\n \n | \n \n \n 16.6\n \n | \n \n \n 26.0\n \n | \n \n \n 12.6\n \n | \n \n \n 7.0\n \n | \n \n \n 1.7\n \n | \n \n \n 67.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated depreciation/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n -\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201314.4\n \n | \n \n \n \u20134.5\n \n | \n \n \n \u20134.3\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u201326.4\n \n | \n
| \n \n Depreciation\n \n | \n \n \n -\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20134.6\n \n | \n \n \n \u20132.6\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20138.7\n \n | \n
| \n \n Disposals\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 1.8\n \n | \n \n \n 1.2\n \n | \n \n \n 0.2\n \n | \n \n \n 0.3\n \n | \n \n \n 3.5\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 0.8\n \n | \n \n \n 0.3\n \n | \n \n \n 0.2\n \n | \n \n \n -\n \n | \n \n \n 1.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n -\n \n | \n \n \n \u20132.4\n \n | \n \n \n \u201316.4\n \n | \n \n \n \u20135.6\n \n | \n \n \n \u20134.7\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u201330.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2025\n \n | \n \n \n 3.4\n \n | \n \n \n 14.2\n \n | \n \n \n 9.6\n \n | \n \n \n 7.0\n \n | \n \n \n 2.3\n \n | \n \n \n 0.5\n \n | \n \n \n 37.0\n \n | \n
As of December 31, 2025, and 2024, there were no contractual commitments for the purchase of tangible assets, and no impairment was required.
| \n \n in CHF million\n \n | \n \n \n \n\nLand\n \n | \n \n \n \n\nBuildings\n \n | \n \n \n \nIT\nequipment\n \n | \n \n \n Leasehold\nimprove-\nments\n \n | \n \n \n \nFurniture\nand fixtures\n \n | \n \n \n \nOther\nequipment\n \n | \n \n \n \n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n 3.5\n \n | \n \n \n 15.9\n \n | \n \n \n 18.3\n \n | \n \n \n 7.0\n \n | \n \n \n 6.0\n \n | \n \n \n 2.2\n \n | \n \n \n 52.9\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n -\n \n | \n \n \n 0.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 0.7\n \n | \n
| \n \n Additions\n \n | \n \n \n -\n \n | \n \n \n 0.5\n \n | \n \n \n 3.5\n \n | \n \n \n 3.7\n \n | \n \n \n 1.6\n \n | \n \n \n 0.1\n \n | \n \n \n 9.4\n \n | \n
| \n \n Disposals\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20130.7\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20134.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20130.4\n \n | \n \n \n 0.3\n \n | \n \n \n 0.1\n \n | \n \n \n 0.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 3.4\n \n | \n \n \n 16.7\n \n | \n \n \n 19.4\n \n | \n \n \n 10.1\n \n | \n \n \n 7.3\n \n | \n \n \n 1.7\n \n | \n \n \n 58.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated depreciation/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n -\n \n | \n \n \n \u20131.6\n \n | \n \n \n \u201313.5\n \n | \n \n \n \u20134.0\n \n | \n \n \n \u20133.9\n \n | \n \n \n \u20131.4\n \n | \n \n \n \u201324.4\n \n | \n
| \n \n Depreciation\n \n | \n \n \n -\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20133.3\n \n | \n \n \n \u20131.1\n \n | \n \n \n \u20130.7\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20135.8\n \n | \n
| \n \n Disposals\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 2.6\n \n | \n \n \n 0.6\n \n | \n \n \n 0.4\n \n | \n \n \n 0.5\n \n | \n \n \n 4.1\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20130.2\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n -\n \n | \n \n \n \u20130.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n -\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201314.4\n \n | \n \n \n \u20134.5\n \n | \n \n \n \u20134.3\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u201326.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2024\n \n | \n \n \n 3.4\n \n | \n \n \n 14.7\n \n | \n \n \n 5.0\n \n | \n \n \n 5.6\n \n | \n \n \n 3.0\n \n | \n \n \n 0.5\n \n | \n \n \n 32.2\n \n | \n
Purchased intangible assets such as software, acquired technology and customer relationships are measured at cost less accumulated amortization (applying the straight-line method) and any impairment. The useful life is as follows:
| \n \n in CHF million\n \n | \n \n \n Software, acquired\ntechnology and\ncustomer\nrelationships\n \n | \n \n \n \n\n\nBrand\n \n | \n \n \n \nInternally\ngenerated\nintangibles\n \n | \n \n \n \n\n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 180.1\n \n | \n \n \n 31.8\n \n | \n \n \n 207.0\n \n | \n \n \n 418.9\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 310.5\n \n | \n \n \n 4.3\n \n | \n \n \n 10.7\n \n | \n \n \n 325.5\n \n | \n
| \n \n Additions\n \n | \n \n \n 0.8\n \n | \n \n \n -\n \n | \n \n \n 58.7\n \n | \n \n \n 59.5\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u201310.1\n \n | \n \n \n -\n \n | \n \n \n \u20139.3\n \n | \n \n \n \u201319.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u201310.1\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u201310.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 471.2\n \n | \n \n \n 36.1\n \n | \n \n \n 267.0\n \n | \n \n \n 774.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n \u2013130.9\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u2013110.5\n \n | \n \n \n \u2013241.9\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201329.3\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u201345.6\n \n | \n \n \n \u201376.1\n \n | \n
| \n \n Impairments\n \n | \n \n \n \u20133.4\n \n | \n \n \n -\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20133.8\n \n | \n
| \n \n Disposals\n \n | \n \n \n 10.1\n \n | \n \n \n -\n \n | \n \n \n 9.3\n \n | \n \n \n 19.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 6.3\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n 6.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \u2013147.2\n \n | \n \n \n \u20131.7\n \n | \n \n \n \u2013147.1\n \n | \n \n \n \u2013296.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2025\n \n | \n \n \n 324.0\n \n | \n \n \n 34.4\n \n | \n \n \n 119.9\n \n | \n \n \n 478.3\n \n | \n
| \n \n in CHF million\n \n | \n \n \n Software, acquired\ntechnology and\ncustomer\nrelationships\n \n | \n \n \n \n\n\nBrand\n \n | \n \n \n \nInternally\ngenerated\nintangibles\n \n | \n \n \n \n\n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n 173.8\n \n | \n \n \n 31.8\n \n | \n \n \n 149.7\n \n | \n \n \n 355.3\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 2.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 2.7\n \n | \n
| \n \n Additions\n \n | \n \n \n 1.2\n \n | \n \n \n -\n \n | \n \n \n 57.4\n \n | \n \n \n 58.6\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u20131.1\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20131.2\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 3.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 3.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 180.1\n \n | \n \n \n 31.8\n \n | \n \n \n 207.0\n \n | \n \n \n 418.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n \u2013110.9\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u201377.3\n \n | \n \n \n \u2013188.7\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201318.1\n \n | \n \n \n -\n \n | \n \n \n \u201333.3\n \n | \n \n \n \u201351.4\n \n | \n
| \n \n Disposals\n \n | \n \n \n 1.2\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n 1.3\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20133.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20133.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \u2013130.9\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u2013110.5\n \n | \n \n \n \u2013241.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2024\n \n | \n \n \n 49.2\n \n | \n \n \n 31.3\n \n | \n \n \n 96.5\n \n | \n \n \n 177.0\n \n | \n
Internally generated intangible assets mainly relate to Business IT solutions\u00a0that were designed to improve the operational efficiency of the group\u2019s business operations (CHF 57.2 million; prior year: CHF 56.5 million). Investments were also made in the SoftwareOne Licensing Platform, which offers clients a single digital entry point to access and manage their products, services and interactions with SoftwareOne (CHF 24.6\u00a0million; prior year: CHF 21.5 million). Further internally generated intangible assets relate to service platforms (CHF 16.4\u00a0million; prior year: CHF 15.1 million), supporting customers in various aspects of IT, and digital transformation. All technical innovations are capitalized separately in accordance with the component approach if the group expects to obtain a future benefit from them.
The acquired technology and customer relationships include customer relationships/bases primarily related to the Crayon acquisition. For the customer base of Crayon, the remaining amortization period is 6.5 to 12.5 years with a carrying amount of CHF 291.9 million.
The SoftwareOne brand with a carrying amount of CHF 31.3 million was acquired in a business combination. It has been determined to have an indefinite useful life as there is no intention of abandoning the brand name. As it has existed for many years, the group can maintain its brand for an indefinite period of time. Thus, the brand name is not amortized but is assessed for impairment annually.
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 485.5\n \n | \n \n \n 463.0\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 946.1\n \n | \n \n \n 18.2\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u201320.5\n \n | \n \n \n 4.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 1,411.1\n \n | \n \n \n 485.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Impairment\n \n | \n \n \n \u20138.0\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n \u20138.0\n \n | \n \n \n 0.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31\n \n | \n \n \n 1,403.1\n \n | \n \n \n 485.5\n \n | \n
The carrying amount of goodwill and the SoftwareOne brand are allocated to CGU\u2019s as illustrated below:
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n WEMEA\n \n | \n \n \n Nordics\n \n | \n \n \n CEE\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 202.6\n \n | \n \n \n 199.8\n \n | \n \n \n 577.0\n \n | \n \n \n 55.5\n \n | \n \n \n 69.9\n \n | \n \n \n 26.7\n \n | \n \n \n 271.5\n \n | \n \n \n 1,403.0\n \n | \n
| \n \n SoftwareOne brand\n \n | \n \n \n 31.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 31.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 233.9\n \n | \n \n \n 199.8\n \n | \n \n \n 577.0\n \n | \n \n \n 55.5\n \n | \n \n \n 69.9\n \n | \n \n \n 26.7\n \n | \n \n \n 271.5\n \n | \n \n \n 1,434.3\n \n | \n
Following the Crayon acquisition, the former rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The associated goodwill was reallocated, refer to\u00a0Note 2 Changes to segment reporting and goodwill allocation.
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n REMEA\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 137.7\n \n | \n \n \n 258.6\n \n | \n \n \n 29.0\n \n | \n \n \n 34.5\n \n | \n \n \n 25.7\n \n | \n \n \n 485.5\n \n | \n
| \n \n SoftwareOne brand\n \n | \n \n \n 31.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 31.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 169.0\n \n | \n \n \n 258.6\n \n | \n \n \n 29.0\n \n | \n \n \n 34.5\n \n | \n \n \n 25.7\n \n | \n \n \n 516.8\n \n | \n
As the SoftwareOne brand has an indefinite useful life and does not generate largely independent cash inflows, it is allocated to the group\u2019s CGUs for goodwill impairment testing as part of corporate assets.
Goodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
Cash flow projections cover a detailed planning period of five years, during which operating profit is expected to grow in line with CGU\u2011specific market and business assumptions. Cash flows beyond this period are extrapolated using an annual terminal growth rate, based on weighted long-term inflation rate for the countries included in the CGU. Related assumptions reflect macroeconomic trends and historical information adjusted for current developments. Cash flows exclude expected benefits from future restructuring or significant capital enhancements.
The discount rates and annual growth rate per CGU are as follows:
| \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||
| \n \n \n \n | \n \n \n Pre-tax\ndiscount rate\n \n | \n \n \n Post-tax\ndiscount rate\n \n | \n \n \n Annual\ngrowth rate\n \n | \n \n \n Pre-tax\ndiscount rate\n \n | \n \n \n Post-tax\ndiscount rate\n \n | \n \n \n Annual\ngrowth rate\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n DACH\n \n | \n \n \n 8.9%\n \n | \n \n \n 7.0%\n \n | \n \n \n 1.8%\n \n | \n \n \n 8.6%\n \n | \n \n \n 6.7%\n \n | \n \n \n 1.7%\n \n | \n
| \n \n WEMEA\n \n | \n \n \n 10.8%\n \n | \n \n \n 8.7%\n \n | \n \n \n 2.0%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n Nordics\n \n | \n \n \n 10.7%\n \n | \n \n \n 8.8%\n \n | \n \n \n 2.1%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n CEE\n \n | \n \n \n 15.5%\n \n | \n \n \n 13.3%\n \n | \n \n \n 3.6%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n REMEA\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n 11.2%\n \n | \n \n \n 9.2%\n \n | \n \n \n 2.2%\n \n | \n
| \n \n LATAM\n \n | \n \n \n 18.1%\n \n | \n \n \n 13.4%\n \n | \n \n \n 2.8%\n \n | \n \n \n 16.8%\n \n | \n \n \n 14.9% / 11.7%1)\n \n | \n \n \n 3.0%\n \n | \n
| \n \n APAC\n \n | \n \n \n 10.9%\n \n | \n \n \n 8.9%\n \n | \n \n \n 2.6%\n \n | \n \n \n 10.7%\n \n | \n \n \n 8.7%\n \n | \n \n \n 2.4%\n \n | \n
| \n \n NORAM\n \n | \n \n \n 11.4%\n \n | \n \n \n 9.1%\n \n | \n \n \n 2.2%\n \n | \n \n \n 11.2%\n \n | \n \n \n 9.0%\n \n | \n \n \n 2.1%\n \n | \n
\n 1)2024: Post-tax discount rate 14.9% for the detailed planning period and 11.7% for the terminal value.\n
\nThe pre\u2011tax discount rate is derived using a country\u2011specific risk\u2011free rate, adjusted for the market equity risk premium and the CGU\u2019s borrowing cost. The calculation further incorporates peer\u2011group benchmark data to determine appropriate beta coefficients and capital structure assumptions, ensuring that the resulting WACC reflects both the systematic risk profile and the financial leverage of comparable market participants.
In jurisdictions with less developed capital markets and limited availability of reliable observable inputs, primarily in LATAM, the Group applies an indirect build\u2011up approach to determine the discount rate. Under this methodology, the risk\u2011free rate is proxied using the three\u2011month average yield on a U.S. dollar\u2011denominated base rate, which is then adjusted for country\u2011specific risk factors, including sovereign risk premia, inflation differentials and other market\u2011specific risk adjustments. The approach is designed to derive an implied equity risk premium and, consequently, a WACC that appropriately reflects the risk profile of the underlying cash\u2011generating unit in environments where local capital\u2011market data is either not observable or is inconsistent or subject to significant volatility.
In 2025, financial performance in the LATAM CGU was significantly below expectations. Management assessed this as an impairment indicator and therefore performed an updated impairment test as of December 31, 2025.\u00a0The recoverable amount of the LATAM CGU, determined by using value in use calculations, was below the carrying amount. As a result, an impairment of CHF\u202f8.0 million was recognized and allocated entirely to goodwill.
Following recognition of the impairment, the recoverable amount of the LATAM CGU of CHF 63.7\u00a0million equals its carrying amount and is now at breakeven. Any reasonably possible adverse change in key assumptions, including the discount rate, long\u2011term growth rate or EBITDA margin, would result in an additional impairment.
For all other CGUs, management assessed at year\u2011end whether any indicators of impairment existed. No such indicators were identified. The CGUs showed substantial headroom in the annual impairment test performed as of September 30, 2025, and there have been no significant adverse developments since then that would suggest a deterioration in recoverable amounts. Based on the absence of impairment indicators, no updated impairment calculations were required. Management considers that reasonably possible changes in key assumptions would not reduce the recoverable amount of these CGUs to below their carrying amounts.
The group leases various offices, cars, and IT equipment under non-cancellable lease agreements. Most lease agreements are renewable at market rate at the end of the lease period. Unless the group is reasonably certain of obtaining ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of their estimated useful life and the lease term. The useful life is as follows:
The group applies the short-term lease recognition exemption to its short-term leases of other machinery and equipment (those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the exemption for leases of low-value assets recognition to leases of office equipment that are considered of low value (in other words, below CHF 5,000). Lease payments on short-term leases and leases of low-value assets are recognized as expenses on a straight-line basis over the lease term.
Set out below are the carrying amounts of right-of-use assets recognized and the movements during the period:
| \n \n in CHF million\n \n | \n \n \n \nBuildings\n \n | \n \n \n Vehicles and other \nequipment\n \n | \n \n \n \nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 52.0\n \n | \n \n \n 21.0\n \n | \n \n \n 73.0\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 37.7\n \n | \n \n \n 1.7\n \n | \n \n \n 39.4\n \n | \n
| \n \n Additions\n \n | \n \n \n 16.9\n \n | \n \n \n 6.4\n \n | \n \n \n 23.3\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u201319.3\n \n | \n \n \n \u20135.5\n \n | \n \n \n \u201324.8\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20133.2\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20133.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 84.1\n \n | \n \n \n 23.3\n \n | \n \n \n 107.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n \u201327.8\n \n | \n \n \n \u201310.9\n \n | \n \n \n \u201338.7\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201315.4\n \n | \n \n \n \u20135.7\n \n | \n \n \n \u201321.1\n \n | \n
| \n \n Impairment\n \n | \n \n \n \u20136.0\n \n | \n \n \n -\n \n | \n \n \n \u20136.0\n \n | \n
| \n \n Reversal of impairment\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n
| \n \n Disposals\n \n | \n \n \n 17.5\n \n | \n \n \n 5.3\n \n | \n \n \n 22.8\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 1.4\n \n | \n \n \n 0.1\n \n | \n \n \n 1.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \u201329.4\n \n | \n \n \n \u201311.2\n \n | \n \n \n \u201340.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2025\n \n | \n \n \n 54.7\n \n | \n \n \n 12.1\n \n | \n \n \n 66.8\n \n | \n
In 2025, the group recognized an impairment of CHF 6.0 million relating to non-cancellable lease contracts for the closure of offices. The impairment was triggered in connection with the integration of Crayon, as several leased premises were identified as no longer required and their value in use was assessed as nil. The impairment relates to the CGUs DACH (CHF 2.1 million), NORAM (CHF 1.6 million), WEMEA (CHF 1.5 million), CEE (CHF 0.4 million) and Nordics (CHF 0.4 million). An impairment reversal was recognized in the CGU DACH (CHF 0.9 million).
| \n \n in CHF million\n \n | \n \n \n \nBuildings\n \n | \n \n \n Vehicles and other \nequipment\n \n | \n \n \n \nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n 48.8\n \n | \n \n \n 20.1\n \n | \n \n \n 68.9\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 0.2\n \n | \n \n \n -\n \n | \n \n \n 0.2\n \n | \n
| \n \n Additions\n \n | \n \n \n 12.0\n \n | \n \n \n 6.4\n \n | \n \n \n 18.4\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u20139.5\n \n | \n \n \n \u20135.5\n \n | \n \n \n \u201315.0\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 0.5\n \n | \n \n \n -\n \n | \n \n \n 0.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 52.0\n \n | \n \n \n 21.0\n \n | \n \n \n 73.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n \u201326.6\n \n | \n \n \n \u201310.8\n \n | \n \n \n \u201337.4\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201310.2\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u201315.5\n \n | \n
| \n \n Disposals\n \n | \n \n \n 9.1\n \n | \n \n \n 5.3\n \n | \n \n \n 14.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20130.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \u201327.8\n \n | \n \n \n \u201310.9\n \n | \n \n \n \u201338.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2024\n \n | \n \n \n 24.2\n \n | \n \n \n 10.1\n \n | \n \n \n 34.3\n \n | \n
Set out below are the carrying amounts of lease liabilities (included under financial liabilities) and the movements during the period:
| \n \n in CHF million\n \n | \n \n \n 2,025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 35.6\n \n | \n \n \n 32.8\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 39.4\n \n | \n \n \n 0.2\n \n | \n
| \n \n Additions\n \n | \n \n \n 23.3\n \n | \n \n \n 18.4\n \n | \n
| \n \n Accretion of interest\n \n | \n \n \n 3.1\n \n | \n \n \n 1.5\n \n | \n
| \n \n Payments\n \n | \n \n \n \u201322.7\n \n | \n \n \n \u201317.0\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u20131.5\n \n | \n \n \n \u20130.7\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20132.7\n \n | \n \n \n 0.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 74.5\n \n | \n \n \n 35.6\n \n | \n
The following are the amounts recognized in the income statement:
| \n \n in CHF million\n \n | \n \n \n 2,025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Amortization on right-of-use assets \n(including impairment)\n \n | \n \n \n \u201327.1\n \n | \n \n \n \u201315.5\n \n | \n
| \n \n Interest expenses on lease liabilities\n \n | \n \n \n \u20133.1\n \n | \n \n \n \u20131.5\n \n | \n
| \n \n Expenses relating to short-term leases\n(included in other operating expenses)\n \n | \n \n \n \u20133.3\n \n | \n \n \n \u20131.3\n \n | \n
| \n \n Income from subleasing of right-of-use assets\n \n | \n \n \n 0.6\n \n | \n \n \n 0.3\n \n | \n
| \n \n Income from operating lease contracts\n \n | \n \n \n 0.4\n \n | \n \n \n 1.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n \u201332.5\n \n | \n \n \n \u201317.0\n \n | \n
In 2025, the group had total cash outflows of CHF \u201329.1 million for leases including expenses relating to short-term leases (prior year: CHF \u201318.3 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90110-3": { "value": "Tangible assets are stated at historical cost less depreciation and impairment. Depreciation is calculated using the straight-line method over the expected useful life as follows:
Land is not depreciatedBuildings: max. 33 yearsFurniture, fixtures and other equipment: max. 5 yearsLeasehold improvements: max. 10 years or shorter lease termVehicles: max. 5 yearsIT equipment: max. 3 yearsPurchased intangible assets such as software, acquired technology and customer relationships are measured at cost less accumulated amortization (applying the straight-line method) and any impairment. The useful life is as follows:
Software: 3\u201310 yearsAcquired customer relationships: max. 13 yearsAcquired technology and other intangible assets: 3\u201310 yearsInternally generated intangible assets: 3\u20135 yearsGoodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
Cash flow projections cover a detailed planning period of five years, during which operating profit is expected to grow in line with CGU\u2011specific market and business assumptions. Cash flows beyond this period are extrapolated using an annual terminal growth rate, based on weighted long-term inflation rate for the countries included in the CGU. Related assumptions reflect macroeconomic trends and historical information adjusted for current developments. Cash flows exclude expected benefits from future restructuring or significant capital enhancements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90110-4": { "value": "Tangible assets are stated at historical cost less depreciation and impairment. Depreciation is calculated using the straight-line method over the expected useful life as follows:
Land is not depreciatedBuildings: max. 33 yearsFurniture, fixtures and other equipment: max. 5 yearsLeasehold improvements: max. 10 years or shorter lease termVehicles: max. 5 yearsIT equipment: max. 3 yearsPurchased intangible assets such as software, acquired technology and customer relationships are measured at cost less accumulated amortization (applying the straight-line method) and any impairment. The useful life is as follows:
Software: 3\u201310 yearsAcquired customer relationships: max. 13 yearsAcquired technology and other intangible assets: 3\u201310 yearsInternally generated intangible assets: 3\u20135 yearsGoodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90110-5": { "value": "Tangible assets are stated at historical cost less depreciation and impairment. Depreciation is calculated using the straight-line method over the expected useful life as follows:
Land is not depreciatedBuildings: max. 33 yearsFurniture, fixtures and other equipment: max. 5 yearsLeasehold improvements: max. 10 years or shorter lease termVehicles: max. 5 yearsIT equipment: max. 3 years", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90110-6": { "value": "As of December 31, 2025, and 2024, there were no contractual commitments for the purchase of tangible assets, and no impairment was required.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90110-7": { "value": "As of December 31, 2025, and 2024, there were no contractual commitments for the purchase of tangible assets, and no impairment was required.
The SoftwareOne brand with a carrying amount of CHF 31.3 million was acquired in a business combination. It has been determined to have an indefinite useful life as there is no intention of abandoning the brand name. As it has existed for many years, the group can maintain its brand for an indefinite period of time. Thus, the brand name is not amortized but is assessed for impairment annually.
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 485.5\n \n | \n \n \n 463.0\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 946.1\n \n | \n \n \n 18.2\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u201320.5\n \n | \n \n \n 4.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 1,411.1\n \n | \n \n \n 485.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Impairment\n \n | \n \n \n \u20138.0\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n \u20138.0\n \n | \n \n \n 0.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31\n \n | \n \n \n 1,403.1\n \n | \n \n \n 485.5\n \n | \n
The carrying amount of goodwill and the SoftwareOne brand are allocated to CGU\u2019s as illustrated below:
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n WEMEA\n \n | \n \n \n Nordics\n \n | \n \n \n CEE\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 202.6\n \n | \n \n \n 199.8\n \n | \n \n \n 577.0\n \n | \n \n \n 55.5\n \n | \n \n \n 69.9\n \n | \n \n \n 26.7\n \n | \n \n \n 271.5\n \n | \n \n \n 1,403.0\n \n | \n
| \n \n SoftwareOne brand\n \n | \n \n \n 31.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 31.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 233.9\n \n | \n \n \n 199.8\n \n | \n \n \n 577.0\n \n | \n \n \n 55.5\n \n | \n \n \n 69.9\n \n | \n \n \n 26.7\n \n | \n \n \n 271.5\n \n | \n \n \n 1,434.3\n \n | \n
Following the Crayon acquisition, the former rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The associated goodwill was reallocated, refer to\u00a0Note 2 Changes to segment reporting and goodwill allocation.
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n REMEA\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 137.7\n \n | \n \n \n 258.6\n \n | \n \n \n 29.0\n \n | \n \n \n 34.5\n \n | \n \n \n 25.7\n \n | \n \n \n 485.5\n \n | \n
| \n \n SoftwareOne brand\n \n | \n \n \n 31.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 31.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 169.0\n \n | \n \n \n 258.6\n \n | \n \n \n 29.0\n \n | \n \n \n 34.5\n \n | \n \n \n 25.7\n \n | \n \n \n 516.8\n \n | \n
As the SoftwareOne brand has an indefinite useful life and does not generate largely independent cash inflows, it is allocated to the group\u2019s CGUs for goodwill impairment testing as part of corporate assets.
Goodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
Cash flow projections cover a detailed planning period of five years, during which operating profit is expected to grow in line with CGU\u2011specific market and business assumptions. Cash flows beyond this period are extrapolated using an annual terminal growth rate, based on weighted long-term inflation rate for the countries included in the CGU. Related assumptions reflect macroeconomic trends and historical information adjusted for current developments. Cash flows exclude expected benefits from future restructuring or significant capital enhancements.
The discount rates and annual growth rate per CGU are as follows:
| \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||
| \n \n \n \n | \n \n \n Pre-tax\ndiscount rate\n \n | \n \n \n Post-tax\ndiscount rate\n \n | \n \n \n Annual\ngrowth rate\n \n | \n \n \n Pre-tax\ndiscount rate\n \n | \n \n \n Post-tax\ndiscount rate\n \n | \n \n \n Annual\ngrowth rate\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n DACH\n \n | \n \n \n 8.9%\n \n | \n \n \n 7.0%\n \n | \n \n \n 1.8%\n \n | \n \n \n 8.6%\n \n | \n \n \n 6.7%\n \n | \n \n \n 1.7%\n \n | \n
| \n \n WEMEA\n \n | \n \n \n 10.8%\n \n | \n \n \n 8.7%\n \n | \n \n \n 2.0%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n Nordics\n \n | \n \n \n 10.7%\n \n | \n \n \n 8.8%\n \n | \n \n \n 2.1%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n CEE\n \n | \n \n \n 15.5%\n \n | \n \n \n 13.3%\n \n | \n \n \n 3.6%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n REMEA\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n 11.2%\n \n | \n \n \n 9.2%\n \n | \n \n \n 2.2%\n \n | \n
| \n \n LATAM\n \n | \n \n \n 18.1%\n \n | \n \n \n 13.4%\n \n | \n \n \n 2.8%\n \n | \n \n \n 16.8%\n \n | \n \n \n 14.9% / 11.7%1)\n \n | \n \n \n 3.0%\n \n | \n
| \n \n APAC\n \n | \n \n \n 10.9%\n \n | \n \n \n 8.9%\n \n | \n \n \n 2.6%\n \n | \n \n \n 10.7%\n \n | \n \n \n 8.7%\n \n | \n \n \n 2.4%\n \n | \n
| \n \n NORAM\n \n | \n \n \n 11.4%\n \n | \n \n \n 9.1%\n \n | \n \n \n 2.2%\n \n | \n \n \n 11.2%\n \n | \n \n \n 9.0%\n \n | \n \n \n 2.1%\n \n | \n
\n 1)2024: Post-tax discount rate 14.9% for the detailed planning period and 11.7% for the terminal value.\n
\nThe pre\u2011tax discount rate is derived using a country\u2011specific risk\u2011free rate, adjusted for the market equity risk premium and the CGU\u2019s borrowing cost. The calculation further incorporates peer\u2011group benchmark data to determine appropriate beta coefficients and capital structure assumptions, ensuring that the resulting WACC reflects both the systematic risk profile and the financial leverage of comparable market participants.
In jurisdictions with less developed capital markets and limited availability of reliable observable inputs, primarily in LATAM, the Group applies an indirect build\u2011up approach to determine the discount rate. Under this methodology, the risk\u2011free rate is proxied using the three\u2011month average yield on a U.S. dollar\u2011denominated base rate, which is then adjusted for country\u2011specific risk factors, including sovereign risk premia, inflation differentials and other market\u2011specific risk adjustments. The approach is designed to derive an implied equity risk premium and, consequently, a WACC that appropriately reflects the risk profile of the underlying cash\u2011generating unit in environments where local capital\u2011market data is either not observable or is inconsistent or subject to significant volatility.
In 2025, financial performance in the LATAM CGU was significantly below expectations. Management assessed this as an impairment indicator and therefore performed an updated impairment test as of December 31, 2025.\u00a0The recoverable amount of the LATAM CGU, determined by using value in use calculations, was below the carrying amount. As a result, an impairment of CHF\u202f8.0 million was recognized and allocated entirely to goodwill.
Following recognition of the impairment, the recoverable amount of the LATAM CGU of CHF 63.7\u00a0million equals its carrying amount and is now at breakeven. Any reasonably possible adverse change in key assumptions, including the discount rate, long\u2011term growth rate or EBITDA margin, would result in an additional impairment.
For all other CGUs, management assessed at year\u2011end whether any indicators of impairment existed. No such indicators were identified. The CGUs showed substantial headroom in the annual impairment test performed as of September 30, 2025, and there have been no significant adverse developments since then that would suggest a deterioration in recoverable amounts. Based on the absence of impairment indicators, no updated impairment calculations were required. Management considers that reasonably possible changes in key assumptions would not reduce the recoverable amount of these CGUs to below their carrying amounts.
| \n \n in CHF million\n \n | \n \n \n \nBuildings\n \n | \n \n \n Vehicles and other \nequipment\n \n | \n \n \n \nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 52.0\n \n | \n \n \n 21.0\n \n | \n \n \n 73.0\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 37.7\n \n | \n \n \n 1.7\n \n | \n \n \n 39.4\n \n | \n
| \n \n Additions\n \n | \n \n \n 16.9\n \n | \n \n \n 6.4\n \n | \n \n \n 23.3\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u201319.3\n \n | \n \n \n \u20135.5\n \n | \n \n \n \u201324.8\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20133.2\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20133.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 84.1\n \n | \n \n \n 23.3\n \n | \n \n \n 107.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n \u201327.8\n \n | \n \n \n \u201310.9\n \n | \n \n \n \u201338.7\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201315.4\n \n | \n \n \n \u20135.7\n \n | \n \n \n \u201321.1\n \n | \n
| \n \n Impairment\n \n | \n \n \n \u20136.0\n \n | \n \n \n -\n \n | \n \n \n \u20136.0\n \n | \n
| \n \n Reversal of impairment\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n
| \n \n Disposals\n \n | \n \n \n 17.5\n \n | \n \n \n 5.3\n \n | \n \n \n 22.8\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 1.4\n \n | \n \n \n 0.1\n \n | \n \n \n 1.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \u201329.4\n \n | \n \n \n \u201311.2\n \n | \n \n \n \u201340.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2025\n \n | \n \n \n 54.7\n \n | \n \n \n 12.1\n \n | \n \n \n 66.8\n \n | \n
| \n \n in CHF million\n \n | \n \n \n 2,025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Amortization on right-of-use assets \n(including impairment)\n \n | \n \n \n \u201327.1\n \n | \n \n \n \u201315.5\n \n | \n
| \n \n Interest expenses on lease liabilities\n \n | \n \n \n \u20133.1\n \n | \n \n \n \u20131.5\n \n | \n
| \n \n Expenses relating to short-term leases\n(included in other operating expenses)\n \n | \n \n \n \u20133.3\n \n | \n \n \n \u20131.3\n \n | \n
| \n \n Income from subleasing of right-of-use assets\n \n | \n \n \n 0.6\n \n | \n \n \n 0.3\n \n | \n
| \n \n Income from operating lease contracts\n \n | \n \n \n 0.4\n \n | \n \n \n 1.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n \u201332.5\n \n | \n \n \n \u201317.0\n \n | \n
Tangible assets are stated at historical cost less depreciation and impairment. Depreciation is calculated using the straight-line method over the expected useful life as follows:
Land is not depreciatedBuildings: max. 33 yearsFurniture, fixtures and other equipment: max. 5 yearsLeasehold improvements: max. 10 years or shorter lease termVehicles: max. 5 yearsIT equipment: max. 3 yearsPurchased intangible assets such as software, acquired technology and customer relationships are measured at cost less accumulated amortization (applying the straight-line method) and any impairment. The useful life is as follows:
Software: 3\u201310 yearsAcquired customer relationships: max. 13 yearsAcquired technology and other intangible assets: 3\u201310 yearsInternally generated intangible assets: 3\u20135 yearsThe group leases various offices, cars, and IT equipment under non-cancellable lease agreements. Most lease agreements are renewable at market rate at the end of the lease period. Unless the group is reasonably certain of obtaining ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of their estimated useful life and the lease term. The useful life is as follows:
Buildings: max. 10 yearsVehicles: max. 5 yearsOther equipment: max. 5 yearsThe group applies the short-term lease recognition exemption to its short-term leases of other machinery and equipment (those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the exemption for leases of low-value assets recognition to leases of office equipment that are considered of low value (in other words, below CHF 5,000). Lease payments on short-term leases and leases of low-value assets are recognized as expenses on a straight-line basis over the lease term.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90030-1": { "value": "Purchased intangible assets such as software, acquired technology and customer relationships are measured at cost less accumulated amortization (applying the straight-line method) and any impairment. The useful life is as follows:
| \n \n in CHF million\n \n | \n \n \n Software, acquired\ntechnology and\ncustomer\nrelationships\n \n | \n \n \n \n\n\nBrand\n \n | \n \n \n \nInternally\ngenerated\nintangibles\n \n | \n \n \n \n\n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 180.1\n \n | \n \n \n 31.8\n \n | \n \n \n 207.0\n \n | \n \n \n 418.9\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 310.5\n \n | \n \n \n 4.3\n \n | \n \n \n 10.7\n \n | \n \n \n 325.5\n \n | \n
| \n \n Additions\n \n | \n \n \n 0.8\n \n | \n \n \n -\n \n | \n \n \n 58.7\n \n | \n \n \n 59.5\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u201310.1\n \n | \n \n \n -\n \n | \n \n \n \u20139.3\n \n | \n \n \n \u201319.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u201310.1\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u201310.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 471.2\n \n | \n \n \n 36.1\n \n | \n \n \n 267.0\n \n | \n \n \n 774.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n \u2013130.9\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u2013110.5\n \n | \n \n \n \u2013241.9\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201329.3\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u201345.6\n \n | \n \n \n \u201376.1\n \n | \n
| \n \n Impairments\n \n | \n \n \n \u20133.4\n \n | \n \n \n -\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20133.8\n \n | \n
| \n \n Disposals\n \n | \n \n \n 10.1\n \n | \n \n \n -\n \n | \n \n \n 9.3\n \n | \n \n \n 19.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 6.3\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n 6.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \u2013147.2\n \n | \n \n \n \u20131.7\n \n | \n \n \n \u2013147.1\n \n | \n \n \n \u2013296.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2025\n \n | \n \n \n 324.0\n \n | \n \n \n 34.4\n \n | \n \n \n 119.9\n \n | \n \n \n 478.3\n \n | \n
| \n \n in CHF million\n \n | \n \n \n Software, acquired\ntechnology and\ncustomer\nrelationships\n \n | \n \n \n \n\n\nBrand\n \n | \n \n \n \nInternally\ngenerated\nintangibles\n \n | \n \n \n \n\n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n 173.8\n \n | \n \n \n 31.8\n \n | \n \n \n 149.7\n \n | \n \n \n 355.3\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 2.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 2.7\n \n | \n
| \n \n Additions\n \n | \n \n \n 1.2\n \n | \n \n \n -\n \n | \n \n \n 57.4\n \n | \n \n \n 58.6\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u20131.1\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20131.2\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 3.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 3.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 180.1\n \n | \n \n \n 31.8\n \n | \n \n \n 207.0\n \n | \n \n \n 418.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n \u2013110.9\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u201377.3\n \n | \n \n \n \u2013188.7\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201318.1\n \n | \n \n \n -\n \n | \n \n \n \u201333.3\n \n | \n \n \n \u201351.4\n \n | \n
| \n \n Disposals\n \n | \n \n \n 1.2\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n 1.3\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20133.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20133.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \u2013130.9\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u2013110.5\n \n | \n \n \n \u2013241.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2024\n \n | \n \n \n 49.2\n \n | \n \n \n 31.3\n \n | \n \n \n 96.5\n \n | \n \n \n 177.0\n \n | \n
Internally generated intangible assets mainly relate to Business IT solutions\u00a0that were designed to improve the operational efficiency of the group\u2019s business operations (CHF 57.2 million; prior year: CHF 56.5 million). Investments were also made in the SoftwareOne Licensing Platform, which offers clients a single digital entry point to access and manage their products, services and interactions with SoftwareOne (CHF 24.6\u00a0million; prior year: CHF 21.5 million). Further internally generated intangible assets relate to service platforms (CHF 16.4\u00a0million; prior year: CHF 15.1 million), supporting customers in various aspects of IT, and digital transformation. All technical innovations are capitalized separately in accordance with the component approach if the group expects to obtain a future benefit from them.
The acquired technology and customer relationships include customer relationships/bases primarily related to the Crayon acquisition. For the customer base of Crayon, the remaining amortization period is 6.5 to 12.5 years with a carrying amount of CHF 291.9 million.
The SoftwareOne brand with a carrying amount of CHF 31.3 million was acquired in a business combination. It has been determined to have an indefinite useful life as there is no intention of abandoning the brand name. As it has existed for many years, the group can maintain its brand for an indefinite period of time. Thus, the brand name is not amortized but is assessed for impairment annually.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90030-2": { "value": "Purchased intangible assets such as software, acquired technology and customer relationships are measured at cost less accumulated amortization (applying the straight-line method) and any impairment. The useful life is as follows:
| \n \n in CHF million\n \n | \n \n \n Software, acquired\ntechnology and\ncustomer\nrelationships\n \n | \n \n \n \n\n\nBrand\n \n | \n \n \n \nInternally\ngenerated\nintangibles\n \n | \n \n \n \n\n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 180.1\n \n | \n \n \n 31.8\n \n | \n \n \n 207.0\n \n | \n \n \n 418.9\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 310.5\n \n | \n \n \n 4.3\n \n | \n \n \n 10.7\n \n | \n \n \n 325.5\n \n | \n
| \n \n Additions\n \n | \n \n \n 0.8\n \n | \n \n \n -\n \n | \n \n \n 58.7\n \n | \n \n \n 59.5\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u201310.1\n \n | \n \n \n -\n \n | \n \n \n \u20139.3\n \n | \n \n \n \u201319.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u201310.1\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u201310.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 471.2\n \n | \n \n \n 36.1\n \n | \n \n \n 267.0\n \n | \n \n \n 774.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n \u2013130.9\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u2013110.5\n \n | \n \n \n \u2013241.9\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201329.3\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u201345.6\n \n | \n \n \n \u201376.1\n \n | \n
| \n \n Impairments\n \n | \n \n \n \u20133.4\n \n | \n \n \n -\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20133.8\n \n | \n
| \n \n Disposals\n \n | \n \n \n 10.1\n \n | \n \n \n -\n \n | \n \n \n 9.3\n \n | \n \n \n 19.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 6.3\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n 6.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \u2013147.2\n \n | \n \n \n \u20131.7\n \n | \n \n \n \u2013147.1\n \n | \n \n \n \u2013296.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2025\n \n | \n \n \n 324.0\n \n | \n \n \n 34.4\n \n | \n \n \n 119.9\n \n | \n \n \n 478.3\n \n | \n
| \n \n in CHF million\n \n | \n \n \n Software, acquired\ntechnology and\ncustomer\nrelationships\n \n | \n \n \n \n\n\nBrand\n \n | \n \n \n \nInternally\ngenerated\nintangibles\n \n | \n \n \n \n\n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n 173.8\n \n | \n \n \n 31.8\n \n | \n \n \n 149.7\n \n | \n \n \n 355.3\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 2.7\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 2.7\n \n | \n
| \n \n Additions\n \n | \n \n \n 1.2\n \n | \n \n \n -\n \n | \n \n \n 57.4\n \n | \n \n \n 58.6\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u20131.1\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20131.2\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 3.5\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 3.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 180.1\n \n | \n \n \n 31.8\n \n | \n \n \n 207.0\n \n | \n \n \n 418.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n \u2013110.9\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u201377.3\n \n | \n \n \n \u2013188.7\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201318.1\n \n | \n \n \n -\n \n | \n \n \n \u201333.3\n \n | \n \n \n \u201351.4\n \n | \n
| \n \n Disposals\n \n | \n \n \n 1.2\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n 1.3\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20133.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20133.1\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \u2013130.9\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u2013110.5\n \n | \n \n \n \u2013241.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2024\n \n | \n \n \n 49.2\n \n | \n \n \n 31.3\n \n | \n \n \n 96.5\n \n | \n \n \n 177.0\n \n | \n
Internally generated intangible assets mainly relate to Business IT solutions\u00a0that were designed to improve the operational efficiency of the group\u2019s business operations (CHF 57.2 million; prior year: CHF 56.5 million). Investments were also made in the SoftwareOne Licensing Platform, which offers clients a single digital entry point to access and manage their products, services and interactions with SoftwareOne (CHF 24.6\u00a0million; prior year: CHF 21.5 million). Further internally generated intangible assets relate to service platforms (CHF 16.4\u00a0million; prior year: CHF 15.1 million), supporting customers in various aspects of IT, and digital transformation. All technical innovations are capitalized separately in accordance with the component approach if the group expects to obtain a future benefit from them.
The acquired technology and customer relationships include customer relationships/bases primarily related to the Crayon acquisition. For the customer base of Crayon, the remaining amortization period is 6.5 to 12.5 years with a carrying amount of CHF 291.9 million.
The SoftwareOne brand with a carrying amount of CHF 31.3 million was acquired in a business combination. It has been determined to have an indefinite useful life as there is no intention of abandoning the brand name. As it has existed for many years, the group can maintain its brand for an indefinite period of time. Thus, the brand name is not amortized but is assessed for impairment annually.
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 485.5\n \n | \n \n \n 463.0\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 946.1\n \n | \n \n \n 18.2\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u201320.5\n \n | \n \n \n 4.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 1,411.1\n \n | \n \n \n 485.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Impairment\n \n | \n \n \n \u20138.0\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n \u20138.0\n \n | \n \n \n 0.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31\n \n | \n \n \n 1,403.1\n \n | \n \n \n 485.5\n \n | \n
The carrying amount of goodwill and the SoftwareOne brand are allocated to CGU\u2019s as illustrated below:
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n WEMEA\n \n | \n \n \n Nordics\n \n | \n \n \n CEE\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 202.6\n \n | \n \n \n 199.8\n \n | \n \n \n 577.0\n \n | \n \n \n 55.5\n \n | \n \n \n 69.9\n \n | \n \n \n 26.7\n \n | \n \n \n 271.5\n \n | \n \n \n 1,403.0\n \n | \n
| \n \n SoftwareOne brand\n \n | \n \n \n 31.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 31.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 233.9\n \n | \n \n \n 199.8\n \n | \n \n \n 577.0\n \n | \n \n \n 55.5\n \n | \n \n \n 69.9\n \n | \n \n \n 26.7\n \n | \n \n \n 271.5\n \n | \n \n \n 1,434.3\n \n | \n
Following the Crayon acquisition, the former rEMEA region has been restructured into three new operating regions: Nordics, WEMEA and CEE. The associated goodwill was reallocated, refer to\u00a0Note 2 Changes to segment reporting and goodwill allocation.
| \n \n in CHF million\n \n | \n \n \n DACH\n \n | \n \n \n REMEA\n \n | \n \n \n NORAM\n \n | \n \n \n LATAM\n \n | \n \n \n APAC\n \n | \n \n \n Carrying amount\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Goodwill\n \n | \n \n \n 137.7\n \n | \n \n \n 258.6\n \n | \n \n \n 29.0\n \n | \n \n \n 34.5\n \n | \n \n \n 25.7\n \n | \n \n \n 485.5\n \n | \n
| \n \n SoftwareOne brand\n \n | \n \n \n 31.3\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 31.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 169.0\n \n | \n \n \n 258.6\n \n | \n \n \n 29.0\n \n | \n \n \n 34.5\n \n | \n \n \n 25.7\n \n | \n \n \n 516.8\n \n | \n
As the SoftwareOne brand has an indefinite useful life and does not generate largely independent cash inflows, it is allocated to the group\u2019s CGUs for goodwill impairment testing as part of corporate assets.
Goodwill and other intangible assets with indefinite useful lives, such as the SoftwareOne brand, are tested for impairment annually as of September 30. Additionally, at each reporting date impairment assessments are performed whether there are indications of a potential impairment. The group determines the recoverable amount of each cash\u2011generating unit (CGU) as the higher of value in use and fair value less costs of disposal. In practice, the recoverable amount is determined using value in use, as no observable fair value less costs of disposal is available. The calculation of value in use is based on the current budget and business plan approved by the Board of Directors, together with management\u2019s expectations regarding market development, market share, and profitability, supported by third\u2011party market data.
Cash flow projections cover a detailed planning period of five years, during which operating profit is expected to grow in line with CGU\u2011specific market and business assumptions. Cash flows beyond this period are extrapolated using an annual terminal growth rate, based on weighted long-term inflation rate for the countries included in the CGU. Related assumptions reflect macroeconomic trends and historical information adjusted for current developments. Cash flows exclude expected benefits from future restructuring or significant capital enhancements.
The discount rates and annual growth rate per CGU are as follows:
| \n \n \n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n ||||
| \n \n \n \n | \n \n \n Pre-tax\ndiscount rate\n \n | \n \n \n Post-tax\ndiscount rate\n \n | \n \n \n Annual\ngrowth rate\n \n | \n \n \n Pre-tax\ndiscount rate\n \n | \n \n \n Post-tax\ndiscount rate\n \n | \n \n \n Annual\ngrowth rate\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n DACH\n \n | \n \n \n 8.9%\n \n | \n \n \n 7.0%\n \n | \n \n \n 1.8%\n \n | \n \n \n 8.6%\n \n | \n \n \n 6.7%\n \n | \n \n \n 1.7%\n \n | \n
| \n \n WEMEA\n \n | \n \n \n 10.8%\n \n | \n \n \n 8.7%\n \n | \n \n \n 2.0%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n Nordics\n \n | \n \n \n 10.7%\n \n | \n \n \n 8.8%\n \n | \n \n \n 2.1%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n CEE\n \n | \n \n \n 15.5%\n \n | \n \n \n 13.3%\n \n | \n \n \n 3.6%\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n REMEA\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n \n \n 11.2%\n \n | \n \n \n 9.2%\n \n | \n \n \n 2.2%\n \n | \n
| \n \n LATAM\n \n | \n \n \n 18.1%\n \n | \n \n \n 13.4%\n \n | \n \n \n 2.8%\n \n | \n \n \n 16.8%\n \n | \n \n \n 14.9% / 11.7%1)\n \n | \n \n \n 3.0%\n \n | \n
| \n \n APAC\n \n | \n \n \n 10.9%\n \n | \n \n \n 8.9%\n \n | \n \n \n 2.6%\n \n | \n \n \n 10.7%\n \n | \n \n \n 8.7%\n \n | \n \n \n 2.4%\n \n | \n
| \n \n NORAM\n \n | \n \n \n 11.4%\n \n | \n \n \n 9.1%\n \n | \n \n \n 2.2%\n \n | \n \n \n 11.2%\n \n | \n \n \n 9.0%\n \n | \n \n \n 2.1%\n \n | \n
\n 1)2024: Post-tax discount rate 14.9% for the detailed planning period and 11.7% for the terminal value.\n
\nThe pre\u2011tax discount rate is derived using a country\u2011specific risk\u2011free rate, adjusted for the market equity risk premium and the CGU\u2019s borrowing cost. The calculation further incorporates peer\u2011group benchmark data to determine appropriate beta coefficients and capital structure assumptions, ensuring that the resulting WACC reflects both the systematic risk profile and the financial leverage of comparable market participants.
In jurisdictions with less developed capital markets and limited availability of reliable observable inputs, primarily in LATAM, the Group applies an indirect build\u2011up approach to determine the discount rate. Under this methodology, the risk\u2011free rate is proxied using the three\u2011month average yield on a U.S. dollar\u2011denominated base rate, which is then adjusted for country\u2011specific risk factors, including sovereign risk premia, inflation differentials and other market\u2011specific risk adjustments. The approach is designed to derive an implied equity risk premium and, consequently, a WACC that appropriately reflects the risk profile of the underlying cash\u2011generating unit in environments where local capital\u2011market data is either not observable or is inconsistent or subject to significant volatility.
In 2025, financial performance in the LATAM CGU was significantly below expectations. Management assessed this as an impairment indicator and therefore performed an updated impairment test as of December 31, 2025.\u00a0The recoverable amount of the LATAM CGU, determined by using value in use calculations, was below the carrying amount. As a result, an impairment of CHF\u202f8.0 million was recognized and allocated entirely to goodwill.
Following recognition of the impairment, the recoverable amount of the LATAM CGU of CHF 63.7\u00a0million equals its carrying amount and is now at breakeven. Any reasonably possible adverse change in key assumptions, including the discount rate, long\u2011term growth rate or EBITDA margin, would result in an additional impairment.
For all other CGUs, management assessed at year\u2011end whether any indicators of impairment existed. No such indicators were identified. The CGUs showed substantial headroom in the annual impairment test performed as of September 30, 2025, and there have been no significant adverse developments since then that would suggest a deterioration in recoverable amounts. Based on the absence of impairment indicators, no updated impairment calculations were required. Management considers that reasonably possible changes in key assumptions would not reduce the recoverable amount of these CGUs to below their carrying amounts.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90030-3": { "value": "Purchased intangible assets such as software, acquired technology and customer relationships are measured at cost less accumulated amortization (applying the straight-line method) and any impairment. The useful life is as follows:
Software: 3\u201310 yearsAcquired customer relationships: max. 13 yearsAcquired technology and other intangible assets: 3\u201310 yearsInternally generated intangible assets: 3\u20135 yearsBrands with finite lives: 1\u20138 years", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90126-1": { "value": "The group leases various offices, cars, and IT equipment under non-cancellable lease agreements. Most lease agreements are renewable at market rate at the end of the lease period. Unless the group is reasonably certain of obtaining ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of their estimated useful life and the lease term. The useful life is as follows:
The group applies the short-term lease recognition exemption to its short-term leases of other machinery and equipment (those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the exemption for leases of low-value assets recognition to leases of office equipment that are considered of low value (in other words, below CHF 5,000). Lease payments on short-term leases and leases of low-value assets are recognized as expenses on a straight-line basis over the lease term.
Set out below are the carrying amounts of right-of-use assets recognized and the movements during the period:
| \n \n in CHF million\n \n | \n \n \n \nBuildings\n \n | \n \n \n Vehicles and other \nequipment\n \n | \n \n \n \nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 52.0\n \n | \n \n \n 21.0\n \n | \n \n \n 73.0\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 37.7\n \n | \n \n \n 1.7\n \n | \n \n \n 39.4\n \n | \n
| \n \n Additions\n \n | \n \n \n 16.9\n \n | \n \n \n 6.4\n \n | \n \n \n 23.3\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u201319.3\n \n | \n \n \n \u20135.5\n \n | \n \n \n \u201324.8\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20133.2\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20133.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 84.1\n \n | \n \n \n 23.3\n \n | \n \n \n 107.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n \u201327.8\n \n | \n \n \n \u201310.9\n \n | \n \n \n \u201338.7\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201315.4\n \n | \n \n \n \u20135.7\n \n | \n \n \n \u201321.1\n \n | \n
| \n \n Impairment\n \n | \n \n \n \u20136.0\n \n | \n \n \n -\n \n | \n \n \n \u20136.0\n \n | \n
| \n \n Reversal of impairment\n \n | \n \n \n 0.9\n \n | \n \n \n -\n \n | \n \n \n 0.9\n \n | \n
| \n \n Disposals\n \n | \n \n \n 17.5\n \n | \n \n \n 5.3\n \n | \n \n \n 22.8\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 1.4\n \n | \n \n \n 0.1\n \n | \n \n \n 1.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n \u201329.4\n \n | \n \n \n \u201311.2\n \n | \n \n \n \u201340.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2025\n \n | \n \n \n 54.7\n \n | \n \n \n 12.1\n \n | \n \n \n 66.8\n \n | \n
In 2025, the group recognized an impairment of CHF 6.0 million relating to non-cancellable lease contracts for the closure of offices. The impairment was triggered in connection with the integration of Crayon, as several leased premises were identified as no longer required and their value in use was assessed as nil. The impairment relates to the CGUs DACH (CHF 2.1 million), NORAM (CHF 1.6 million), WEMEA (CHF 1.5 million), CEE (CHF 0.4 million) and Nordics (CHF 0.4 million). An impairment reversal was recognized in the CGU DACH (CHF 0.9 million).
| \n \n in CHF million\n \n | \n \n \n \nBuildings\n \n | \n \n \n Vehicles and other \nequipment\n \n | \n \n \n \nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Historical cost\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n 48.8\n \n | \n \n \n 20.1\n \n | \n \n \n 68.9\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 0.2\n \n | \n \n \n -\n \n | \n \n \n 0.2\n \n | \n
| \n \n Additions\n \n | \n \n \n 12.0\n \n | \n \n \n 6.4\n \n | \n \n \n 18.4\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u20139.5\n \n | \n \n \n \u20135.5\n \n | \n \n \n \u201315.0\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n 0.5\n \n | \n \n \n -\n \n | \n \n \n 0.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 52.0\n \n | \n \n \n 21.0\n \n | \n \n \n 73.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Accumulated amortization/impairment\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n \u201326.6\n \n | \n \n \n \u201310.8\n \n | \n \n \n \u201337.4\n \n | \n
| \n \n Amortization\n \n | \n \n \n \u201310.2\n \n | \n \n \n \u20135.3\n \n | \n \n \n \u201315.5\n \n | \n
| \n \n Disposals\n \n | \n \n \n 9.1\n \n | \n \n \n 5.3\n \n | \n \n \n 14.4\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20130.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n \u201327.8\n \n | \n \n \n \u201310.9\n \n | \n \n \n \u201338.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Carrying amount December 31, 2024\n \n | \n \n \n 24.2\n \n | \n \n \n 10.1\n \n | \n \n \n 34.3\n \n | \n
Set out below are the carrying amounts of lease liabilities (included under financial liabilities) and the movements during the period:
| \n \n in CHF million\n \n | \n \n \n 2,025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1\n \n | \n \n \n 35.6\n \n | \n \n \n 32.8\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 39.4\n \n | \n \n \n 0.2\n \n | \n
| \n \n Additions\n \n | \n \n \n 23.3\n \n | \n \n \n 18.4\n \n | \n
| \n \n Accretion of interest\n \n | \n \n \n 3.1\n \n | \n \n \n 1.5\n \n | \n
| \n \n Payments\n \n | \n \n \n \u201322.7\n \n | \n \n \n \u201317.0\n \n | \n
| \n \n Disposals\n \n | \n \n \n \u20131.5\n \n | \n \n \n \u20130.7\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20132.7\n \n | \n \n \n 0.4\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31\n \n | \n \n \n 74.5\n \n | \n \n \n 35.6\n \n | \n
The following are the amounts recognized in the income statement:
| \n \n in CHF million\n \n | \n \n \n 2,025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Amortization on right-of-use assets \n(including impairment)\n \n | \n \n \n \u201327.1\n \n | \n \n \n \u201315.5\n \n | \n
| \n \n Interest expenses on lease liabilities\n \n | \n \n \n \u20133.1\n \n | \n \n \n \u20131.5\n \n | \n
| \n \n Expenses relating to short-term leases\n(included in other operating expenses)\n \n | \n \n \n \u20133.3\n \n | \n \n \n \u20131.3\n \n | \n
| \n \n Income from subleasing of right-of-use assets\n \n | \n \n \n 0.6\n \n | \n \n \n 0.3\n \n | \n
| \n \n Income from operating lease contracts\n \n | \n \n \n 0.4\n \n | \n \n \n 1.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n \u201332.5\n \n | \n \n \n \u201317.0\n \n | \n
In 2025, the group had total cash outflows of CHF \u201329.1 million for leases including expenses relating to short-term leases (prior year: CHF \u201318.3 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90126-2": { "value": "The group leases various offices, cars, and IT equipment under non-cancellable lease agreements. Most lease agreements are renewable at market rate at the end of the lease period. Unless the group is reasonably certain of obtaining ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of their estimated useful life and the lease term. The useful life is as follows:
Buildings: max. 10 yearsVehicles: max. 5 yearsOther equipment: max. 5 yearsThe group applies the short-term lease recognition exemption to its short-term leases of other machinery and equipment (those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the exemption for leases of low-value assets recognition to leases of office equipment that are considered of low value (in other words, below CHF 5,000). Lease payments on short-term leases and leases of low-value assets are recognized as expenses on a straight-line basis over the lease term.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90024-1": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n 2,568.5\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 123.4\n \n | \n \n \n 98.8\n \n | \n
| \n \n \u2013 thereof financial liabilities 51.4 (prior year: 37.3)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contract liabilities\n \n | \n \n \n 126.2\n \n | \n \n \n 88.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 356.2\n \n | \n \n \n 237.2\n \n | \n
| \n \n \u2013 thereof financial liabilities 81.4 (prior year: 26.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables, accrued expenses, contract liabilities \nand other current payables\n \n | \n \n \n 4,323.8\n \n | \n \n \n 2,993.4\n \n | \n
| \n \n Other payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \u2013 thereof financial liabilities 448.8 (prior year: 271.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade payables, accrued expenses, contract liabilities \nand other payables\n \n | \n \n \n 4,774.2\n \n | \n \n \n 3,265.3\n \n | \n
Accrued expenses mainly include obligations to employees not paid at the reporting date, such as bonuses, holiday entitlements or compensations,\u00a0and accruals related to other operating expenses. Other current payables mainly include VAT and other sales tax-related liabilities.
Contract liabilities include short-term advances received to render services. All contract liabilities as of January 1, 2025,\u00a0were recognized as revenue in 2025 (CHF 88.9 million).
Of the contract liabilities, CHF 25.7 million result from the acquisition of Crayon as of July 2, 2025.
Other non-current payables include CHF 448.7 million non-current trade payables for multi-year contracts (prior year: CHF 271.4 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90024-2": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n 2,568.5\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 123.4\n \n | \n \n \n 98.8\n \n | \n
| \n \n \u2013 thereof financial liabilities 51.4 (prior year: 37.3)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contract liabilities\n \n | \n \n \n 126.2\n \n | \n \n \n 88.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 356.2\n \n | \n \n \n 237.2\n \n | \n
| \n \n \u2013 thereof financial liabilities 81.4 (prior year: 26.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables, accrued expenses, contract liabilities \nand other current payables\n \n | \n \n \n 4,323.8\n \n | \n \n \n 2,993.4\n \n | \n
| \n \n Other payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \u2013 thereof financial liabilities 448.8 (prior year: 271.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade payables, accrued expenses, contract liabilities \nand other payables\n \n | \n \n \n 4,774.2\n \n | \n \n \n 3,265.3\n \n | \n
Accrued expenses mainly include obligations to employees not paid at the reporting date, such as bonuses, holiday entitlements or compensations,\u00a0and accruals related to other operating expenses. Other current payables mainly include VAT and other sales tax-related liabilities.
Contract liabilities include short-term advances received to render services. All contract liabilities as of January 1, 2025,\u00a0were recognized as revenue in 2025 (CHF 88.9 million).
Of the contract liabilities, CHF 25.7 million result from the acquisition of Crayon as of July 2, 2025.
Other non-current payables include CHF 448.7 million non-current trade payables for multi-year contracts (prior year: CHF 271.4 million).
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n -\n \n | \n \n \n 4.8\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 1.9\n \n | \n \n \n 3.1\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 22.3\n \n | \n \n \n 14.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 260.4\n \n | \n \n \n 316.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total current financial liabilities\n \n | \n \n \n 284.6\n \n | \n \n \n 338.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Non-current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 2.6\n \n | \n \n \n 5.0\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 52.2\n \n | \n \n \n 21.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 528.0\n \n | \n \n \n 3.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total non-current financial liabilities\n \n | \n \n \n 582.8\n \n | \n \n \n 29.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n 867.4\n \n | \n \n \n 367.5\n \n | \n
| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2025\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2025\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 4.8\n \n | \n \n \n -\n \n | \n \n \n \u20134.8\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 8.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u20130.4\n \n | \n \n \n 4.5\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 35.6\n \n | \n \n \n 39.2\n \n | \n \n \n \u201322.7\n \n | \n \n \n -\n \n | \n \n \n \u20132.5\n \n | \n \n \n 24.9\n \n | \n \n \n 74.5\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 316.0\n \n | \n \n \n 117.3\n \n | \n \n \n \u2013122.9\n \n | \n \n \n \u201335.7\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201312.3\n \n | \n \n \n 260.4\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.0\n \n | \n \n \n -\n \n | \n \n \n 525.0\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n \u20130.1\n \n | \n \n \n 528.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 367.5\n \n | \n \n \n 156.5\n \n | \n \n \n 374.6\n \n | \n \n \n \u201338.4\n \n | \n \n \n \u20134.9\n \n | \n \n \n 12.1\n \n | \n \n \n 867.4\n \n | \n
Following the physical settlement of the total return swap contract, the financial liability recorded for the receipts on swap contracts was settled at CHF 35.7 million which is presented under investing cashflow, refer to Note 4.3 Categories of financial instruments and fair value estimation.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90024-3": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n 2,568.5\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 123.4\n \n | \n \n \n 98.8\n \n | \n
| \n \n \u2013 thereof financial liabilities 51.4 (prior year: 37.3)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contract liabilities\n \n | \n \n \n 126.2\n \n | \n \n \n 88.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 356.2\n \n | \n \n \n 237.2\n \n | \n
| \n \n \u2013 thereof financial liabilities 81.4 (prior year: 26.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables, accrued expenses, contract liabilities \nand other current payables\n \n | \n \n \n 4,323.8\n \n | \n \n \n 2,993.4\n \n | \n
| \n \n Other payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \u2013 thereof financial liabilities 448.8 (prior year: 271.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade payables, accrued expenses, contract liabilities \nand other payables\n \n | \n \n \n 4,774.2\n \n | \n \n \n 3,265.3\n \n | \n
Accrued expenses mainly include obligations to employees not paid at the reporting date, such as bonuses, holiday entitlements or compensations,\u00a0and accruals related to other operating expenses. Other current payables mainly include VAT and other sales tax-related liabilities.
Contract liabilities include short-term advances received to render services. All contract liabilities as of January 1, 2025,\u00a0were recognized as revenue in 2025 (CHF 88.9 million).
Of the contract liabilities, CHF 25.7 million result from the acquisition of Crayon as of July 2, 2025.
Other non-current payables include CHF 448.7 million non-current trade payables for multi-year contracts (prior year: CHF 271.4 million).
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n -\n \n | \n \n \n 4.8\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 1.9\n \n | \n \n \n 3.1\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 22.3\n \n | \n \n \n 14.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 260.4\n \n | \n \n \n 316.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total current financial liabilities\n \n | \n \n \n 284.6\n \n | \n \n \n 338.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Non-current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 2.6\n \n | \n \n \n 5.0\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 52.2\n \n | \n \n \n 21.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 528.0\n \n | \n \n \n 3.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total non-current financial liabilities\n \n | \n \n \n 582.8\n \n | \n \n \n 29.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n 867.4\n \n | \n \n \n 367.5\n \n | \n
| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2025\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2025\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 4.8\n \n | \n \n \n -\n \n | \n \n \n \u20134.8\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 8.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u20130.4\n \n | \n \n \n 4.5\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 35.6\n \n | \n \n \n 39.2\n \n | \n \n \n \u201322.7\n \n | \n \n \n -\n \n | \n \n \n \u20132.5\n \n | \n \n \n 24.9\n \n | \n \n \n 74.5\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 316.0\n \n | \n \n \n 117.3\n \n | \n \n \n \u2013122.9\n \n | \n \n \n \u201335.7\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201312.3\n \n | \n \n \n 260.4\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.0\n \n | \n \n \n -\n \n | \n \n \n 525.0\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n \u20130.1\n \n | \n \n \n 528.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 367.5\n \n | \n \n \n 156.5\n \n | \n \n \n 374.6\n \n | \n \n \n \u201338.4\n \n | \n \n \n \u20134.9\n \n | \n \n \n 12.1\n \n | \n \n \n 867.4\n \n | \n
Following the physical settlement of the total return swap contract, the financial liability recorded for the receipts on swap contracts was settled at CHF 35.7 million which is presented under investing cashflow, refer to Note 4.3 Categories of financial instruments and fair value estimation.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90024-4": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n 2,568.5\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 123.4\n \n | \n \n \n 98.8\n \n | \n
| \n \n \u2013 thereof financial liabilities 51.4 (prior year: 37.3)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contract liabilities\n \n | \n \n \n 126.2\n \n | \n \n \n 88.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 356.2\n \n | \n \n \n 237.2\n \n | \n
| \n \n \u2013 thereof financial liabilities 81.4 (prior year: 26.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables, accrued expenses, contract liabilities \nand other current payables\n \n | \n \n \n 4,323.8\n \n | \n \n \n 2,993.4\n \n | \n
| \n \n Other payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \u2013 thereof financial liabilities 448.8 (prior year: 271.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade payables, accrued expenses, contract liabilities \nand other payables\n \n | \n \n \n 4,774.2\n \n | \n \n \n 3,265.3\n \n | \n
Accrued expenses mainly include obligations to employees not paid at the reporting date, such as bonuses, holiday entitlements or compensations,\u00a0and accruals related to other operating expenses. Other current payables mainly include VAT and other sales tax-related liabilities.
Contract liabilities include short-term advances received to render services. All contract liabilities as of January 1, 2025,\u00a0were recognized as revenue in 2025 (CHF 88.9 million).
Of the contract liabilities, CHF 25.7 million result from the acquisition of Crayon as of July 2, 2025.
Other non-current payables include CHF 448.7 million non-current trade payables for multi-year contracts (prior year: CHF 271.4 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90024-5": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n 2,568.5\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 123.4\n \n | \n \n \n 98.8\n \n | \n
| \n \n \u2013 thereof financial liabilities 51.4 (prior year: 37.3)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contract liabilities\n \n | \n \n \n 126.2\n \n | \n \n \n 88.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 356.2\n \n | \n \n \n 237.2\n \n | \n
| \n \n \u2013 thereof financial liabilities 81.4 (prior year: 26.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables, accrued expenses, contract liabilities \nand other current payables\n \n | \n \n \n 4,323.8\n \n | \n \n \n 2,993.4\n \n | \n
| \n \n Other payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \u2013 thereof financial liabilities 448.8 (prior year: 271.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade payables, accrued expenses, contract liabilities \nand other payables\n \n | \n \n \n 4,774.2\n \n | \n \n \n 3,265.3\n \n | \n
Accrued expenses mainly include obligations to employees not paid at the reporting date, such as bonuses, holiday entitlements or compensations,\u00a0and accruals related to other operating expenses. Other current payables mainly include VAT and other sales tax-related liabilities.
Contract liabilities include short-term advances received to render services. All contract liabilities as of January 1, 2025,\u00a0were recognized as revenue in 2025 (CHF 88.9 million).
Of the contract liabilities, CHF 25.7 million result from the acquisition of Crayon as of July 2, 2025.
Other non-current payables include CHF 448.7 million non-current trade payables for multi-year contracts (prior year: CHF 271.4 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90024-6": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables\n \n | \n \n \n 3,718.0\n \n | \n \n \n 2,568.5\n \n | \n
| \n \n Accrued expenses\n \n | \n \n \n 123.4\n \n | \n \n \n 98.8\n \n | \n
| \n \n \u2013 thereof financial liabilities 51.4 (prior year: 37.3)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contract liabilities\n \n | \n \n \n 126.2\n \n | \n \n \n 88.9\n \n | \n
| \n \n Other payables\n \n | \n \n \n 356.2\n \n | \n \n \n 237.2\n \n | \n
| \n \n \u2013 thereof financial liabilities 81.4 (prior year: 26.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Trade payables, accrued expenses, contract liabilities \nand other current payables\n \n | \n \n \n 4,323.8\n \n | \n \n \n 2,993.4\n \n | \n
| \n \n Other payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \u2013 thereof financial liabilities 448.8 (prior year: 271.4)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Other non-current payables\n \n | \n \n \n 450.4\n \n | \n \n \n 271.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total trade payables, accrued expenses, contract liabilities \nand other payables\n \n | \n \n \n 4,774.2\n \n | \n \n \n 3,265.3\n \n | \n
Other non-current payables include CHF 448.7 million non-current trade payables for multi-year contracts (prior year: CHF 271.4 million).
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n -\n \n | \n \n \n 4.8\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 1.9\n \n | \n \n \n 3.1\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 22.3\n \n | \n \n \n 14.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 260.4\n \n | \n \n \n 316.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total current financial liabilities\n \n | \n \n \n 284.6\n \n | \n \n \n 338.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Non-current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 2.6\n \n | \n \n \n 5.0\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 52.2\n \n | \n \n \n 21.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 528.0\n \n | \n \n \n 3.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total non-current financial liabilities\n \n | \n \n \n 582.8\n \n | \n \n \n 29.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n 867.4\n \n | \n \n \n 367.5\n \n | \n
| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2025\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2025\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 4.8\n \n | \n \n \n -\n \n | \n \n \n \u20134.8\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 8.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u20130.4\n \n | \n \n \n 4.5\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 35.6\n \n | \n \n \n 39.2\n \n | \n \n \n \u201322.7\n \n | \n \n \n -\n \n | \n \n \n \u20132.5\n \n | \n \n \n 24.9\n \n | \n \n \n 74.5\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 316.0\n \n | \n \n \n 117.3\n \n | \n \n \n \u2013122.9\n \n | \n \n \n \u201335.7\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201312.3\n \n | \n \n \n 260.4\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.0\n \n | \n \n \n -\n \n | \n \n \n 525.0\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n \u20130.1\n \n | \n \n \n 528.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 367.5\n \n | \n \n \n 156.5\n \n | \n \n \n 374.6\n \n | \n \n \n \u201338.4\n \n | \n \n \n \u20134.9\n \n | \n \n \n 12.1\n \n | \n \n \n 867.4\n \n | \n
Following the physical settlement of the total return swap contract, the financial liability recorded for the receipts on swap contracts was settled at CHF 35.7 million which is presented under investing cashflow, refer to Note 4.3 Categories of financial instruments and fair value estimation.
Further effects in \u201cOther\u201d columns are related to additions, disposals and compounding of lease liabilities (CHF 24.9 million), the settlement of the foreign currency call option (CHF \u201313.5 million) and, to a limited extent, accrued interest.
| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2024\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 0.4\n \n | \n \n \n -\n \n | \n \n \n 4.5\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n -\n \n | \n \n \n 4.8\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 7.4\n \n | \n \n \n -\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u20133.2\n \n | \n \n \n 0.1\n \n | \n \n \n 5.0\n \n | \n \n \n 8.1\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 32.8\n \n | \n \n \n 0.2\n \n | \n \n \n \u201317.0\n \n | \n \n \n -\n \n | \n \n \n 0.4\n \n | \n \n \n 19.2\n \n | \n \n \n 35.6\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 121.2\n \n | \n \n \n -\n \n | \n \n \n 178.4\n \n | \n \n \n 8.8\n \n | \n \n \n \u20136.0\n \n | \n \n \n 13.6\n \n | \n \n \n 316.0\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.4\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20130.2\n \n | \n \n \n 3.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 165.2\n \n | \n \n \n 0.2\n \n | \n \n \n 164.7\n \n | \n \n \n 5.6\n \n | \n \n \n \u20135.8\n \n | \n \n \n 37.6\n \n | \n \n \n 367.5\n \n | \n
In prior year, further effects in \u201cOther\u201d column were related to additions, disposals and compounding of lease liabilities (CHF 19.2 million), the initial recognition of the contingent consideration liability for Medalsoft (CHF 6.3 million), the recognition of the foreign currency call option (CHF 13.5 million) and, to a limited extent, accrued interest.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90106-1": { "value": "| \n \n in CHF million\n \n | \n \n \n Non-Income \ntax-related\n \n | \n \n \n Earn-out-\nrelated\n \n | \n \n \n Other\n \n | \n \n \n \nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current provisions\n \n | \n \n \n 6.2\n \n | \n \n \n 5.7\n \n | \n \n \n 8.4\n \n | \n \n \n 20.3\n \n | \n
| \n \n Non-current provisions\n \n | \n \n \n 20.9\n \n | \n \n \n 3.4\n \n | \n \n \n 6.6\n \n | \n \n \n 30.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total provision as of December 31, 2025\n \n | \n \n \n 27.1\n \n | \n \n \n 9.1\n \n | \n \n \n 15.0\n \n | \n \n \n 51.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 2.5\n \n | \n \n \n 21.8\n \n | \n \n \n 14.1\n \n | \n \n \n 38.4\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 24.1\n \n | \n \n \n -\n \n | \n \n \n 8.4\n \n | \n \n \n 32.5\n \n | \n
| \n \n Increase\n \n | \n \n \n 1.2\n \n | \n \n \n 5.0\n \n | \n \n \n 3.1\n \n | \n \n \n 9.3\n \n | \n
| \n \n Used provisions\n \n | \n \n \n -\n \n | \n \n \n \u201317.3\n \n | \n \n \n \u20134.2\n \n | \n \n \n \u201321.5\n \n | \n
| \n \n Unused amounts released\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20136.1\n \n | \n \n \n \u20136.9\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 27.1\n \n | \n \n \n 9.1\n \n | \n \n \n 15.0\n \n | \n \n \n 51.2\n \n | \n
Business acquisitions include a provision of CHF 16.0 million to account for potential risks associated with VAT deductions, with insurance covering 80% of the amount which is recorded under prepayments, and a provision for a loss-making contract of CHF 8.4 million.
In 2025, SoftwareOne released provisions for two legal cases in the amount of CHF 4.7 million to other operating income due to a settled legal dispute and a reassessment of a further risk.
Other provisions primarily encompass provisions for loss-making contracts and legal claims.
Earn-out-related provisions are associated with contingent consideration arrangements that could result in additional cash payments to the previous owners of the companies acquired. They are presented as provisions if they are contingent on continued employment and thus compensation for services and recognized as personnel expenses during the period of service. The amount of the earn-out may also depend on KPI developments for a contractually defined period and, where appropriate, a multiplier derived from other variables.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90106-2": { "value": "| \n \n in CHF million\n \n | \n \n \n Non-Income \ntax-related\n \n | \n \n \n Earn-out-\nrelated\n \n | \n \n \n Other\n \n | \n \n \n \nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current provisions\n \n | \n \n \n 6.2\n \n | \n \n \n 5.7\n \n | \n \n \n 8.4\n \n | \n \n \n 20.3\n \n | \n
| \n \n Non-current provisions\n \n | \n \n \n 20.9\n \n | \n \n \n 3.4\n \n | \n \n \n 6.6\n \n | \n \n \n 30.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total provision as of December 31, 2025\n \n | \n \n \n 27.1\n \n | \n \n \n 9.1\n \n | \n \n \n 15.0\n \n | \n \n \n 51.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2025\n \n | \n \n \n 2.5\n \n | \n \n \n 21.8\n \n | \n \n \n 14.1\n \n | \n \n \n 38.4\n \n | \n
| \n \n Business acquisitions\n \n | \n \n \n 24.1\n \n | \n \n \n -\n \n | \n \n \n 8.4\n \n | \n \n \n 32.5\n \n | \n
| \n \n Increase\n \n | \n \n \n 1.2\n \n | \n \n \n 5.0\n \n | \n \n \n 3.1\n \n | \n \n \n 9.3\n \n | \n
| \n \n Used provisions\n \n | \n \n \n -\n \n | \n \n \n \u201317.3\n \n | \n \n \n \u20134.2\n \n | \n \n \n \u201321.5\n \n | \n
| \n \n Unused amounts released\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20136.1\n \n | \n \n \n \u20136.9\n \n | \n
| \n \n Currency translation adjustments\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20130.3\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 27.1\n \n | \n \n \n 9.1\n \n | \n \n \n 15.0\n \n | \n \n \n 51.2\n \n | \n
Business acquisitions include a provision of CHF 16.0 million to account for potential risks associated with VAT deductions, with insurance covering 80% of the amount which is recorded under prepayments, and a provision for a loss-making contract of CHF 8.4 million.
In 2025, SoftwareOne released provisions for two legal cases in the amount of CHF 4.7 million to other operating income due to a settled legal dispute and a reassessment of a further risk.
Other provisions primarily encompass provisions for loss-making contracts and legal claims.
Earn-out-related provisions are associated with contingent consideration arrangements that could result in additional cash payments to the previous owners of the companies acquired. They are presented as provisions if they are contingent on continued employment and thus compensation for services and recognized as personnel expenses during the period of service. The amount of the earn-out may also depend on KPI developments for a contractually defined period and, where appropriate, a multiplier derived from other variables.
As an internationally operating group, SoftwareOne is exposed to contingencies in respect of legal and tax claims in the ordinary course of business. It is not anticipated that any material liabilities will arise from the contingent liabilities.
In 2016, the Federal Revenue Office in S\u00e3o Jos\u00e9 dos Campos (DRF/SJC) issued an infraction notice against SoftwareOne Brazil for the fiscal year 2012, levying alleged debts related to sales tax contributions (PIS/COFINS), charging the difference between the non-cumulative system (9.25%) and the cumulative system (3.65%). The value in dispute of the infraction notice was BRL 9.1 million (CHF 1.3\u00a0million) excluding penalty and interest. As expected, in July 2017, the administrative appeal against this infraction notice was rejected. Thus, SoftwareOne Brazil has filed a further appeal before the Administrative Tax Appeal Court (CARF), which was decided unfavorably at CARF level in October 2021, and SoftwareOne was notified to file the appeal. After the notification of the CARF decision, the company filed a motion of clarification against this decision in October 2022.\u00a0In December 2023, this motion of clarification was denied and SoftwareOne was notified to present a special appeal against the second level decision which was filed in February 2024. The verdict at the administrative level in October 2024 was in favor of the Brazilian tax authorities and the procedure at CARF level was lost. The company decided to issue an insurance bond (in lieu of payment) for the underlying tax amount. The case now continues in the judicial court system. In 2020, the Federal Revenue Office issued a further infraction notice against SoftwareOne Brazil for the fiscal year 2017 for the same subject mentioned above. The value in dispute of the infraction notice was BRL 19.9 million (CHF 2.9\u00a0million) excluding penalties and interest. Thus, SoftwareOne Brazil filed a further appeal before CARF against this infraction notice, which was rejected in July 2021. SoftwareOne submitted an action for annulment at court level in November 2021 secured by a litigation bond. Nevertheless, SoftwareOne Brazil and SoftwareOne group are still of the opinion that the cumulative system was correctly applied in line with industry standards and are defending their position for both fiscal years 2012 and 2017 with the support of third-party lawyers. There were no changes to that assessment in 2025. Although the probability of the outcome of the dispute cannot be reliably predicted at this stage, SoftwareOne does not expect any cash outflow for the litigation at the reporting date.
In 2019, the National Tax Administration Superintendence (SUNAT) in Lima issued an infraction notice against SoftwareOne Peru for the fiscal year 2016, levying alleged debts related to withholding taxes (Impuesto a la Renta de no Domiciliados \u2013 IRND), charging the not contributed withholding taxes related to Software Assurance for payments made abroad. The value in dispute of the infraction notice was PEN 5.4 million (CHF 1.3 million) excluding penalty and interest. According to Resolution 042-2014-SUNAT/5D0000 from 2014, licenses purchased abroad are not subject to withholding taxes, whereas services are subject to withholding tax contribution. In June 2020, the administrative appeal (2nd SUNAT instance) against this infraction notice was rejected. Nevertheless, SoftwareOne Peru and the group are still of the opinion that the non-contribution of withholding taxes was correctly applied as Software Assurance is defined as licensing and not services in line with the industry standard and is defending its position with the support of third-party lawyers. SoftwareOne Peru therefore filed a further appeal before the administrative tax court (Tribunal Fiscal), the last administrative instance, in July 2020, which ruled in favor of SoftwareOne Peru in January 2021. SUNAT took the right to appeal the decision before the civil court in May 2021. In September 2024, the Supreme Court issued a verdict in favor of SUNAT.\u00a0In October 2024, the company filed an amparo request (clarification on verdict) against the Supreme Court decision to the Constitutional Court. The Amparo was still pending at the date of approval of the consolidated financial statements by the Board of Directors. In October 2025, the company received a payment request for the pending tax amount including penalty and interest of PEN 16.7 million (CHF 4.0 million). After making the payment under protest, in November 2025 SoftwareOne Peru filed an appeal with the Constitutional Court requesting remission of interest and fines associated with the tax debt. Given the prospects of success of the two appeals with the Constitutional Court of Peru, the company recorded a claim for reimbursement of amounts paid under other receivables, expecting a cash refund for penalties and interest, and the tax payment may be used to offset outstanding tax liabilities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90106-3": { "value": "Other provisions primarily encompass provisions for loss-making contracts and legal claims.
Earn-out-related provisions are associated with contingent consideration arrangements that could result in additional cash payments to the previous owners of the companies acquired. They are presented as provisions if they are contingent on continued employment and thus compensation for services and recognized as personnel expenses during the period of service. The amount of the earn-out may also depend on KPI developments for a contractually defined period and, where appropriate, a multiplier derived from other variables.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90081-1": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n -\n \n | \n \n \n 4.8\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 1.9\n \n | \n \n \n 3.1\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 22.3\n \n | \n \n \n 14.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 260.4\n \n | \n \n \n 316.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total current financial liabilities\n \n | \n \n \n 284.6\n \n | \n \n \n 338.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Non-current\n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 2.6\n \n | \n \n \n 5.0\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 52.2\n \n | \n \n \n 21.3\n \n | \n
| \n \n Other financial liabilities\n \n | \n \n \n 528.0\n \n | \n \n \n 3.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total non-current financial liabilities\n \n | \n \n \n 582.8\n \n | \n \n \n 29.3\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total financial liabilities\n \n | \n \n \n 867.4\n \n | \n \n \n 367.5\n \n | \n
In July 2025, the group entered into a new financing agreement comprising an amendment and restatement of a multi-currency revolving credit facility (RCF) in the total amount of CHF 660.0 million, and a CHF term loan facility of CHF 600.0 million. Upon closing of the new agreement, the previous RCF was terminated and repaid. Both facilities mature in July 2029 and include one extension option, subject to approval by the lending banks after the second year. The RCF bears interest at a starting margin of 210 basis points, which may vary between 100 and 210 basis points depending on the group\u2019s leverage ratio and the currency drawn, with interest periods ranging from one week to three months. As of December 31, 2025, CHF 100.0 million of the RCF has been drawn (prior year: CHF 250.0 million). The term loan bears interest at a base rate plus a margin starting at 245 basis points, ranging from 135 to 245 basis points, available with interest periods between three and six months. Annual repayments for the term loan total CHF 50.0 million, payable bi-annually, beginning December 31, 2025, with any balance due at maturity or the extended maturity date. As of December 31, 2025, the carrying amount is CHF 575.0 million, with CHF 525.0 million classified as non-current other financial liabilities.
Both facilities are subject to the loan covenant leverage ratio. The leverage ratio is calculated as net debt including leases divided by earnings before net financial items, taxes, depreciation and amortization plus agreed adjustments and must remain below 3.5x on the dates which the leverage ratio is tested. The leverage ratio was below 1.50 as of December 31, 2025. A potential breach of covenant triggers measures which are standard in such circumstances. Under the agreements, the covenant is tested semi-annually on June 30, and December 31, each year and reported to lending banks to ensure compliance with the agreement. For the RCF existing in 2024, the leverage ratio was 0.76 as of December 31, 2024. The group complied with the covenant in 2025 and 2024.
For the purpose of financing the Crayon transaction, SoftwareOne entered into bridge facilities of CHF 700.0 million in January 2025, refer to Note 3 Change in the scope of consolidation. The bridge facilities were structured with an initial tenor of nine months and included two extension options. The first extension option was exercised in October 2025, thereby extending the maturity to January 31, 2026. The bridge facility includes covenants that are consistent with those defined in the credit facility agreement.\u00a0As of December 31, 2025, CHF 100.0 million bridge facility has been drawn. The bridge facility was repaid completely on due date.
\n The contingent consideration liability reflects the fair value of the expected payments. These estimates are reviewed at each reporting date and adjusted as necessary. Adjustments are booked in finance income or expenses. For further information, refer to explanation of \u201cLevel 3\u201d financial instruments in Note 4.3 Categories of financial instruments and fair value estimation.
| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2025\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2025\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 4.8\n \n | \n \n \n -\n \n | \n \n \n \u20134.8\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 8.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u20130.4\n \n | \n \n \n 4.5\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 35.6\n \n | \n \n \n 39.2\n \n | \n \n \n \u201322.7\n \n | \n \n \n -\n \n | \n \n \n \u20132.5\n \n | \n \n \n 24.9\n \n | \n \n \n 74.5\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 316.0\n \n | \n \n \n 117.3\n \n | \n \n \n \u2013122.9\n \n | \n \n \n \u201335.7\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201312.3\n \n | \n \n \n 260.4\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.0\n \n | \n \n \n -\n \n | \n \n \n 525.0\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n \u20130.1\n \n | \n \n \n 528.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 367.5\n \n | \n \n \n 156.5\n \n | \n \n \n 374.6\n \n | \n \n \n \u201338.4\n \n | \n \n \n \u20134.9\n \n | \n \n \n 12.1\n \n | \n \n \n 867.4\n \n | \n
Following the physical settlement of the total return swap contract, the financial liability recorded for the receipts on swap contracts was settled at CHF 35.7 million which is presented under investing cashflow, refer to Note 4.3 Categories of financial instruments and fair value estimation.
Further effects in \u201cOther\u201d columns are related to additions, disposals and compounding of lease liabilities (CHF 24.9 million), the settlement of the foreign currency call option (CHF \u201313.5 million) and, to a limited extent, accrued interest.
| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2024\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 0.4\n \n | \n \n \n -\n \n | \n \n \n 4.5\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n -\n \n | \n \n \n 4.8\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 7.4\n \n | \n \n \n -\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u20133.2\n \n | \n \n \n 0.1\n \n | \n \n \n 5.0\n \n | \n \n \n 8.1\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 32.8\n \n | \n \n \n 0.2\n \n | \n \n \n \u201317.0\n \n | \n \n \n -\n \n | \n \n \n 0.4\n \n | \n \n \n 19.2\n \n | \n \n \n 35.6\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 121.2\n \n | \n \n \n -\n \n | \n \n \n 178.4\n \n | \n \n \n 8.8\n \n | \n \n \n \u20136.0\n \n | \n \n \n 13.6\n \n | \n \n \n 316.0\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.4\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20130.2\n \n | \n \n \n 3.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 165.2\n \n | \n \n \n 0.2\n \n | \n \n \n 164.7\n \n | \n \n \n 5.6\n \n | \n \n \n \u20135.8\n \n | \n \n \n 37.6\n \n | \n \n \n 367.5\n \n | \n
In prior year, further effects in \u201cOther\u201d column were related to additions, disposals and compounding of lease liabilities (CHF 19.2 million), the initial recognition of the contingent consideration liability for Medalsoft (CHF 6.3 million), the recognition of the foreign currency call option (CHF 13.5 million) and, to a limited extent, accrued interest.
In the statement of cash flows the change in financial liabilities is presented on a gross basis.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90081-2": { "value": "In July 2025, the group entered into a new financing agreement comprising an amendment and restatement of a multi-currency revolving credit facility (RCF) in the total amount of CHF 660.0 million, and a CHF term loan facility of CHF 600.0 million. Upon closing of the new agreement, the previous RCF was terminated and repaid. Both facilities mature in July 2029 and include one extension option, subject to approval by the lending banks after the second year. The RCF bears interest at a starting margin of 210 basis points, which may vary between 100 and 210 basis points depending on the group\u2019s leverage ratio and the currency drawn, with interest periods ranging from one week to three months. As of December 31, 2025, CHF 100.0 million of the RCF has been drawn (prior year: CHF 250.0 million). The term loan bears interest at a base rate plus a margin starting at 245 basis points, ranging from 135 to 245 basis points, available with interest periods between three and six months. Annual repayments for the term loan total CHF 50.0 million, payable bi-annually, beginning December 31, 2025, with any balance due at maturity or the extended maturity date. As of December 31, 2025, the carrying amount is CHF 575.0 million, with CHF 525.0 million classified as non-current other financial liabilities.
Both facilities are subject to the loan covenant leverage ratio. The leverage ratio is calculated as net debt including leases divided by earnings before net financial items, taxes, depreciation and amortization plus agreed adjustments and must remain below 3.5x on the dates which the leverage ratio is tested. The leverage ratio was below 1.50 as of December 31, 2025. A potential breach of covenant triggers measures which are standard in such circumstances. Under the agreements, the covenant is tested semi-annually on June 30, and December 31, each year and reported to lending banks to ensure compliance with the agreement. For the RCF existing in 2024, the leverage ratio was 0.76 as of December 31, 2024. The group complied with the covenant in 2025 and 2024.
For the purpose of financing the Crayon transaction, SoftwareOne entered into bridge facilities of CHF 700.0 million in January 2025, refer to Note 3 Change in the scope of consolidation. The bridge facilities were structured with an initial tenor of nine months and included two extension options. The first extension option was exercised in October 2025, thereby extending the maturity to January 31, 2026. The bridge facility includes covenants that are consistent with those defined in the credit facility agreement.\u00a0As of December 31, 2025, CHF 100.0 million bridge facility has been drawn. The bridge facility was repaid completely on due date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90081-3": { "value": "\n The contingent consideration liability reflects the fair value of the expected payments. These estimates are reviewed at each reporting date and adjusted as necessary. Adjustments are booked in finance income or expenses. For further information, refer to explanation of \u201cLevel 3\u201d financial instruments in Note 4.3 Categories of financial instruments and fair value estimation.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90081-4": { "value": "The contingent consideration liability reflects the fair value of the expected payments. These estimates are reviewed at each reporting date and adjusted as necessary. Adjustments are booked in finance income or expenses.| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2025\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2025\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 4.8\n \n | \n \n \n -\n \n | \n \n \n \u20134.8\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 8.1\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.7\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u20130.4\n \n | \n \n \n 4.5\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 35.6\n \n | \n \n \n 39.2\n \n | \n \n \n \u201322.7\n \n | \n \n \n -\n \n | \n \n \n \u20132.5\n \n | \n \n \n 24.9\n \n | \n \n \n 74.5\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 316.0\n \n | \n \n \n 117.3\n \n | \n \n \n \u2013122.9\n \n | \n \n \n \u201335.7\n \n | \n \n \n \u20132.0\n \n | \n \n \n \u201312.3\n \n | \n \n \n 260.4\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.0\n \n | \n \n \n -\n \n | \n \n \n 525.0\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n \u20130.1\n \n | \n \n \n 528.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 367.5\n \n | \n \n \n 156.5\n \n | \n \n \n 374.6\n \n | \n \n \n \u201338.4\n \n | \n \n \n \u20134.9\n \n | \n \n \n 12.1\n \n | \n \n \n 867.4\n \n | \n
Following the physical settlement of the total return swap contract, the financial liability recorded for the receipts on swap contracts was settled at CHF 35.7 million which is presented under investing cashflow, refer to Note 4.3 Categories of financial instruments and fair value estimation.
Further effects in \u201cOther\u201d columns are related to additions, disposals and compounding of lease liabilities (CHF 24.9 million), the settlement of the foreign currency call option (CHF \u201313.5 million) and, to a limited extent, accrued interest.
| \n \n \n \n | \n \n \n Changes in financial liabilities\n \n | \n ||||||
| \n \n in CHF million\n \n | \n \n \n \nJanuary 1,\n2024\n \n | \n \n \n \nBusiness\nacquisitions\n \n | \n \n \n \nFinancing\ncash flows\n \n | \n \n \n \nInvesting\ncash flows\n \n | \n \n \n Foreign\nexchange \nmovements\n \n | \n \n \n \n\nOther\n \n | \n \n \n \nDecember 31,\n2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Bank overdrafts\n \n | \n \n \n 0.4\n \n | \n \n \n -\n \n | \n \n \n 4.5\n \n | \n \n \n -\n \n | \n \n \n \u20130.1\n \n | \n \n \n -\n \n | \n \n \n 4.8\n \n | \n
| \n \n Contingent consideration liabilities\n \n | \n \n \n 7.4\n \n | \n \n \n -\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u20133.2\n \n | \n \n \n 0.1\n \n | \n \n \n 5.0\n \n | \n \n \n 8.1\n \n | \n
| \n \n Lease liabilities\n \n | \n \n \n 32.8\n \n | \n \n \n 0.2\n \n | \n \n \n \u201317.0\n \n | \n \n \n -\n \n | \n \n \n 0.4\n \n | \n \n \n 19.2\n \n | \n \n \n 35.6\n \n | \n
| \n \n Other current financial liabilities\n \n | \n \n \n 121.2\n \n | \n \n \n -\n \n | \n \n \n 178.4\n \n | \n \n \n 8.8\n \n | \n \n \n \u20136.0\n \n | \n \n \n 13.6\n \n | \n \n \n 316.0\n \n | \n
| \n \n Other non-current financial liabilities\n \n | \n \n \n 3.4\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20130.2\n \n | \n \n \n \u20130.2\n \n | \n \n \n 3.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n 165.2\n \n | \n \n \n 0.2\n \n | \n \n \n 164.7\n \n | \n \n \n 5.6\n \n | \n \n \n \u20135.8\n \n | \n \n \n 37.6\n \n | \n \n \n 367.5\n \n | \n
In prior year, further effects in \u201cOther\u201d column were related to additions, disposals and compounding of lease liabilities (CHF 19.2 million), the initial recognition of the contingent consideration liability for Medalsoft (CHF 6.3 million), the recognition of the foreign currency call option (CHF 13.5 million) and, to a limited extent, accrued interest.
In the statement of cash flows the change in financial liabilities is presented on a gross basis.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90090-1": { "value": "The group operates various post-employment schemes including both defined benefit and defined contribution pension plans.
The liability or asset recognized in the balance sheet in respect of defined benefit plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. Actuarial gains or losses are recognized in OCI. Service costs are presented in personnel expenses. Interest costs and interest on plan assets are netted in finance expenses.
The group\u2019s retirement plans include defined benefit pension plans in Switzerland, Belgium, Germany, Austria, India, Mexico, Ecuador, France, Italy, Turkey, Costa Rica, and Indonesia. These plans, excluding those in Switzerland, Belgium, and Germany, are unfunded and all determined by local regulations using independent actuarial valuations according to IAS 19. The group\u2019s major defined benefit plans in Switzerland accounts for 84.7%\u00a0(prior year: 84.8%) of the group\u2019s present value of funded and unfunded obligations.
The current pension arrangement for employees in Switzerland is made through a plan governed by the Swiss Federal Occupational Old Age, Survivors and Disability Pension Act (OPA). The plans of SoftwareOne\u2019s Swiss companies are administered by a separate legal foundation, which is funded by regular employer and employee contributions defined in the pension fund rules. The Swiss pension plans contain a cash balance benefit which is essentially contribution-based, with certain minimum guarantees. Due to these minimum guarantees, the Swiss plans are treated as a defined benefit plan under IFRS Accounting Standards. The plans are invested in a diversified range of assets in accordance with the investment strategy and the common criteria of asset and liability management. A potential underfunding may be remedied by various measures such as increasing employer and employee contributions or reducing future benefits.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90090-2": { "value": "The nominal value of the company\u2019s shares is CHF 0.01 per share. The share capital was divided into 158,581,460 registered shares with a carrying amount of CHF 1.6 million as of December 31, 2024. As part of the Crayon acquisition, a total of 62,521,493 new SoftwareOne shares have been issued at a nominal value of CHF 0.01 per share. Transaction costs of the capital increase were immaterial. Earlier, the creation of a capital band was approved at the Extraordinary General Meeting on April 11, 2025, authorizing the Board of Directors to issue up to 72,205,459 fully paid-up registered shares.
The share capital is divided into 221,102,953 registered shares with a carrying amount of CHF 2.2 million as of December 31, 2025. All shares issued by the company are fully paid.
| \n \n \n \n | \n \n \n \nNumber of shares\n \n | \n \n \n Carrying amount\nin CHF million\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n 4,462,167\n \n | \n \n \n 30.9\n \n | \n
| \n \n Used for employee share plans\n \n | \n \n \n \u2013226,846\n \n | \n \n \n \u20131.2\n \n | \n
| \n \n Used for members of the Board of Directors\n \n | \n \n \n \u201328,569\n \n | \n \n \n \u20130.1\n \n | \n
| \n \n Sale of treasury shares\n \n | \n \n \n \u2013143,035\n \n | \n \n \n \u20130.8\n \n | \n
| \n \n Repurchases under share buyback program1)\n \n | \n \n \n 2,908,247\n \n | \n \n \n 44.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 6,971,964\n \n | \n \n \n 73.0\n \n | \n
| \n \n Used for employee share plans\n \n | \n \n \n \u2013338,691\n \n | \n \n \n \u20131.8\n \n | \n
| \n \n Used for members of the Board of Directors\n \n | \n \n \n \u201392,296\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n Sale of treasury shares\n \n | \n \n \n \u2013216,316\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 6,324,661\n \n | \n \n \n 70.0\n \n | \n
\n 1)In 2024, SoftwareOne had a cash outflow CHF 44.6 million for repurchases of treasury shares under a share buyback program which was completed in November 2024.\n\n
\nThe nominal value of the company\u2019s shares is CHF 0.01 per share. The share capital was divided into 158,581,460 registered shares with a carrying amount of CHF 1.6 million as of December 31, 2024. As part of the Crayon acquisition, a total of 62,521,493 new SoftwareOne shares have been issued at a nominal value of CHF 0.01 per share. Transaction costs of the capital increase were immaterial. Earlier, the creation of a capital band was approved at the Extraordinary General Meeting on April 11, 2025, authorizing the Board of Directors to issue up to 72,205,459 fully paid-up registered shares.
The share capital is divided into 221,102,953 registered shares with a carrying amount of CHF 2.2 million as of December 31, 2025. All shares issued by the company are fully paid.
| \n \n \n \n | \n \n \n \nNumber of shares\n \n | \n \n \n Carrying amount\nin CHF million\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n On January 1, 2024\n \n | \n \n \n 4,462,167\n \n | \n \n \n 30.9\n \n | \n
| \n \n Used for employee share plans\n \n | \n \n \n \u2013226,846\n \n | \n \n \n \u20131.2\n \n | \n
| \n \n Used for members of the Board of Directors\n \n | \n \n \n \u201328,569\n \n | \n \n \n \u20130.1\n \n | \n
| \n \n Sale of treasury shares\n \n | \n \n \n \u2013143,035\n \n | \n \n \n \u20130.8\n \n | \n
| \n \n Repurchases under share buyback program1)\n \n | \n \n \n 2,908,247\n \n | \n \n \n 44.2\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2024\n \n | \n \n \n 6,971,964\n \n | \n \n \n 73.0\n \n | \n
| \n \n Used for employee share plans\n \n | \n \n \n \u2013338,691\n \n | \n \n \n \u20131.8\n \n | \n
| \n \n Used for members of the Board of Directors\n \n | \n \n \n \u201392,296\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n Sale of treasury shares\n \n | \n \n \n \u2013216,316\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n As of December 31, 2025\n \n | \n \n \n 6,324,661\n \n | \n \n \n 70.0\n \n | \n
\n 1)In 2024, SoftwareOne had a cash outflow CHF 44.6 million for repurchases of treasury shares under a share buyback program which was completed in November 2024.\n\n
\nThe nominal value of the company\u2019s shares is CHF 0.01 per share. The share capital was divided into 158,581,460 registered shares with a carrying amount of CHF 1.6 million as of December 31, 2024. As part of the Crayon acquisition, a total of 62,521,493 new SoftwareOne shares have been issued at a nominal value of CHF 0.01 per share. Transaction costs of the capital increase were immaterial. Earlier, the creation of a capital band was approved at the Extraordinary General Meeting on April 11, 2025, authorizing the Board of Directors to issue up to 72,205,459 fully paid-up registered shares.
The share capital is divided into 221,102,953 registered shares with a carrying amount of CHF 2.2 million as of December 31, 2025. All shares issued by the company are fully paid.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90077-1": { "value": "| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Profit/(loss) for the period attributable to owners of the parent\n \n | \n \n \n 0.9\n \n | \n \n \n \u20131.5\n \n | \n
| \n \n Number of shares\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Weighted average number of ordinary shares\n \n | \n \n \n 183,272,850\n \n | \n \n \n 152,983,051\n \n | \n
| \n \n Adjustment for share-based payment plans\n \n | \n \n \n 1,732,132\n \n | \n \n \n N/A\n \n | \n
| \n \n Weighted average number of shares used to calculate\ndiluted earnings per share\n \n | \n \n \n 185,004,982\n \n | \n \n \n 152,983,051\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Basic earnings per share in CHF\n \n | \n \n \n 0.00\n \n | \n \n \n \u20130.01\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Diluted earnings per share in CHF\n \n | \n \n \n 0.00\n \n | \n \n \n \u20130.01\n \n | \n
The dividends paid in 2025 were CHF 45.6 million or CHF 0.30 per share (excluding treasury shares; prior year: CHF 55.2 million or CHF 0.36 per share).\u00a0An amount of CHF 9.1 million was paid out of the capital contribution reserve of SoftwareOne Holding AG and thus deducted from share premium (prior year: CHF 55.2 million). The dividend in an amount of CHF 36.5 million was deducted from retained earnings (prior year: nil).
A dividend in respect of the period ended December 31, 2025, of CHF 0.15 per share (excluding treasury shares), amounting to a total dividend of CHF 33.2 million\u00a0is to be proposed at the Annual General Meeting on\u00a0May 22, 2026. These financial statements do not reflect this proposed dividend. Dividends are paid fully out of the capital contribution reserve (non-Swiss) of SoftwareOne Holding AG.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90026-2": { "value": "0.3", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:CHF/xbrli:shares" } }, "mms-90026-3": { "value": "0.36", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:CHF/xbrli:shares" } }, "mms-90026-4": { "value": "0.15", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:CHF/xbrli:shares" } }, "mms-90026-5": { "value": "33200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:CHF" } }, "mms-90015-1": { "value": "In July 2025, SoftwareOne launched a new share-based payment program, the Talent Retention Program. The objective of the plan is to provide selected key employees with an opportunity to strengthen their shareholding in SoftwareOne and thus participate in the growth of the group. In addition, the group granted new awards under the Long-term Incentive Plan (LTIP25). Arrangements that were launched in previous years, the Employee Share Purchase Plan and the Long-term Incentive Plan (LTIP23 and LTIP24) still exist.
SoftwareOne recognized total share-based payment expenses of CHF \u201312.6 million\u00a0in 2025 (prior year: CHF \u201313.0 million). The following table discloses how the expenses are allocated to the existing share-based payment arrangements:
| \n \n 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n Employee Share \nPurchase Plan (ESPP)\n \n | \n \n \n Long-term Incentive \nPlan (LTIP)\n \n | \n \n \n Talent Retention Program\n \n | \n \n \n Board of Directors \nfees paid in shares\n \n | \n \n \n \nTotal\n \n | \n
| \n \n Granted in\n \n | \n \n \n 2024/2025\n \n | \n \n \n 2023/2024/2025\n \n | \n \n \n 2025\n \n | \n \n \n 2025\n \n | \n \n \n \n \n | \n
| \n \n Expenses recognized in \nincome statement\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u201310.0\n \n | \n \n \n \u20131.5\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u201312.6\n \n | \n
| \n \n Thereof expenses related \nto key management employees\n \n | \n \n \n -\n \n | \n \n \n \u20130.8\n \n | \n \n \n -\n \n | \n \n \n \u20130.6\n \n | \n \n \n -\n \n | \n
| \n \n 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n Employee Share \nPurchase Plan (ESPP)\n \n | \n \n \n Long-term Incentive \nPlan (LTIP)\n \n | \n \n \n Board of Directors \nfees paid in shares\n \n | \n \n \n \nTotal\n \n | \n
| \n \n Granted in\n \n | \n \n \n 2023/2024\n \n | \n \n \n 2022/2023/2024\n \n | \n \n \n 2024\n \n | \n \n \n \n \n | \n
| \n \n Expenses recognized in \nincome statement\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u201311.9\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u201313.0\n \n | \n
| \n \n Thereof expenses related \nto key management employees\n \n | \n \n \n -\n \n | \n \n \n \u20135.8\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20136.4\n \n | \n
SoftwareOne has recognized an increase in equity of CHF 12.0 million for share-based payments (prior year: CHF 12.6 million).
The program allows eligible SoftwareOne employees to participate in a sponsored ESPP introduced in 2020. Participants are able to make periodic contributions to acquire investment shares at the respective market price over a purchase period, which will generally be one year. At the end of the purchase period, participants receive free matching shares based on the number of investment shares bought during the purchase period and held until the end of the purchase period. For every four investment shares acquired, SoftwareOne grants each employee one matching share free of charge. The matching shares granted represent an equity-settled share-based payment and are recognized over a service period ending 12 months after the purchase period. The program is ongoing. New awards are granted every year.
LTIP grants the Executive Board performance share unit (PSU) subscription rights and the Executive Leadership Team and selected key employees restricted share unit (RSU) subscription rights. In 2025, SoftwareOne granted new awards under this plan (LTIP25); however, the vesting conditions of the plan has changed compared to previous years.
The number of PSUs granted is determined by dividing the individual LTIP grant on the grant date by the fair value of one PSU, rounding up to the next whole PSU. Each PSU subscription right securitizes a right to receive shares depending on the development of the underlying vesting factor. The vesting factor depends on relative total shareholder return (rTSR). The target factor is 1.00, while the minimum factor is 0.0 and the maximum factor is 2.0. The relative rTSR vesting factor depends on the TSR of the company and the TSR of the SPI Extra Index. A relative TSR of <= \u201333% leads to a vesting factor of 0 and a TSR of >= 33% to a vesting factor of 2.0. The rTSR vesting factor distributes linearly between the target ranges. The award cycle (service period) is 34 months from the contractual grant date.
Each RSU subscription right securitizes a right to receive shares, subject to the service condition of continued employment with SoftwareOne at a defined point in time. The program provides for graded vesting over service periods of ten, 22 and 34 months.
In 2025, a total of 1,305,821 RSUs were granted at a fair value of CHF 6.04 per RSU. The term of the RSUs starts on March 5, 2025 (valuation date), with annual vesting periods ending on January 3, 2026, January 3, 2027, and January 3, 2028.
The number of PSUs granted is determined by dividing the individual LTIP grant on the grant date by the fair value of one PSU, rounding up to the next whole PSU. Each PSU subscription right represents a right to receive shares depending on the development of the underlying vesting factor. The vesting factor depends 40% on revenue growth, 40% on EBITDA margin and 20% on relative total shareholder return (rTSR). In all variables, the target factor is 1.00, while the minimum factor is 0.0 and the maximum factor is 2.0. The revenue growth vesting factor depends on SoftwareOne\u2019s average revenue growth over three years. The EBITDA margin vesting factor depends on SoftwareOne\u2019s average EBITDA margin over three years. Both are determined on a straight-line basis between the target ranges. The rTSR vesting factor depends on the TSR of the company and the TSR of the SPI Extra Index. A relative TSR of <= \u201333% leads to a vesting factor of 0 and a TSR of >= 33% to a vesting factor of 2.0. The rTSR vesting factor distributes linearly between the target ranges. The award cycle (service period) is 34 months from the contractual grant date.
The aforementioned LTIP's are valued using a Monte Carlo simulation. SoftwareOne has taken the following parameters into account in the valuation:
| \n \n \n \n | \n \n \n LTIP25\n \n | \n \n \n LTIP24\n \n | \n
| \n \n \n \n | \n \n \n PSU 2025\n \n | \n \n \n PSU 2024\n \n | \n
| \n \n Valuation date\n \n | \n \n \n March 5, 2025\n \n | \n \n \n December 20, 2024\n \n | \n
| \n \n Remaining term (in years) at December 31, 2025\n \n | \n \n \n 2.0\n \n | \n \n \n 1.2\n \n | \n
| \n \n SWON share price on the valuation date\n \n | \n \n \n CHF 6.04\n \n | \n \n \n CHF 6.42\n \n | \n
| \n \n Price SPI Extra Index on the valuation date\n \n | \n \n \n USD 5,512.52\n \n | \n \n \n USD 5,079.74\n \n | \n
| \n \n Volatility SWON\n \n | \n \n \n 49.61%\n \n | \n \n \n 31.19%\n \n | \n
| \n \n Volatility SPI Extra Index\n \n | \n \n \n 13.91%\n \n | \n \n \n 11.99%\n \n | \n
| \n \n Correlation\n \n | \n \n \n 45.19%\n \n | \n \n \n 37.61%\n \n | \n
| \n \n Risk-free interest rate SWON\n \n | \n \n \n 0.31%\n \n | \n \n \n 0.03%\n \n | \n
| \n \n Risk-free interest rate SPI Extra Index\n \n | \n \n \n 4.12%\n \n | \n \n \n 0.03%\n \n | \n
| \n \n Expected dividend yield\n \n | \n \n \n 5.96%\n \n | \n \n \n 5.61%\n \n | \n
| \n \n Exercise price\n \n | \n \n \n CHF 0.00\n \n | \n \n \n CHF 0.00\n \n | \n
| \n \n Gross profit vesting measure\n \n | \n \n \n 1\n \n | \n \n \n 1\n \n | \n
| \n \n Number of PSUs granted\n \n | \n \n \n 220,043\n \n | \n \n \n 1,107,778\n \n | \n
| \n \n Fair value per PSU\n \n | \n \n \n CHF 6.00\n \n | \n \n \n CHF 15.40\n \n | \n
The term of the PSUs and RSUs granted in 2025 starts on March 5, 2025 (valuation date) and ends on December 31, 2027 (end of the vesting period).\u00a0The term of the PSUs granted in 2024 started on February 29, 2024, and ends on March 15, 2027.
Each RSU subscription right confers a right to receive shares, subject to continued employment with SoftwareOne at a defined point in time. The program provides for graded vesting over service periods of six, twelve and 18 months.
In 2025, a total of 357,000 RSUs were granted at a fair value of CHF 7.41 per RSU. The term of the RSUs starts on July 3, 2025 (valuation date), with vesting periods ending on January 3, 2026, July 3, 2026, and January 3, 2027.
The Board of Director\u2019s fees are settled 60% in cash and 40% in SoftwareOne shares. The share-based part of the compensation is granted immediately after the Annual General Meeting and the election or re-election of the members of the Board of Directors. For the share-based compensation, the Swiss franc amount is converted into shares at the closing price of the ex-date, the first date after the Annual General Meeting the shares are traded ex dividend (for 2025: May 20, 2025). The shares vest until the next Annual General Meeting and are then subject to transfer restrictions of three years.
On June 23,\u00a02025, the granted amount of CHF 0.7 million was converted into 92,296\u00a0shares (CHF\u00a07.66 per share). In the prior year, the granted amount of CHF 0.5 million was converted into 28,569 shares (CHF 17.08 per share).
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90015-2": { "value": "In July 2025, SoftwareOne launched a new share-based payment program, the Talent Retention Program. The objective of the plan is to provide selected key employees with an opportunity to strengthen their shareholding in SoftwareOne and thus participate in the growth of the group. In addition, the group granted new awards under the Long-term Incentive Plan (LTIP25). Arrangements that were launched in previous years, the Employee Share Purchase Plan and the Long-term Incentive Plan (LTIP23 and LTIP24) still exist.
SoftwareOne recognized total share-based payment expenses of CHF \u201312.6 million\u00a0in 2025 (prior year: CHF \u201313.0 million). The following table discloses how the expenses are allocated to the existing share-based payment arrangements:
| \n \n 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n Employee Share \nPurchase Plan (ESPP)\n \n | \n \n \n Long-term Incentive \nPlan (LTIP)\n \n | \n \n \n Talent Retention Program\n \n | \n \n \n Board of Directors \nfees paid in shares\n \n | \n \n \n \nTotal\n \n | \n
| \n \n Granted in\n \n | \n \n \n 2024/2025\n \n | \n \n \n 2023/2024/2025\n \n | \n \n \n 2025\n \n | \n \n \n 2025\n \n | \n \n \n \n \n | \n
| \n \n Expenses recognized in \nincome statement\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u201310.0\n \n | \n \n \n \u20131.5\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u201312.6\n \n | \n
| \n \n Thereof expenses related \nto key management employees\n \n | \n \n \n -\n \n | \n \n \n \u20130.8\n \n | \n \n \n -\n \n | \n \n \n \u20130.6\n \n | \n \n \n -\n \n | \n
| \n \n 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n Employee Share \nPurchase Plan (ESPP)\n \n | \n \n \n Long-term Incentive \nPlan (LTIP)\n \n | \n \n \n Board of Directors \nfees paid in shares\n \n | \n \n \n \nTotal\n \n | \n
| \n \n Granted in\n \n | \n \n \n 2023/2024\n \n | \n \n \n 2022/2023/2024\n \n | \n \n \n 2024\n \n | \n \n \n \n \n | \n
| \n \n Expenses recognized in \nincome statement\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u201311.9\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u201313.0\n \n | \n
| \n \n Thereof expenses related \nto key management employees\n \n | \n \n \n -\n \n | \n \n \n \u20135.8\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20136.4\n \n | \n
SoftwareOne has recognized an increase in equity of CHF 12.0 million for share-based payments (prior year: CHF 12.6 million).
The program allows eligible SoftwareOne employees to participate in a sponsored ESPP introduced in 2020. Participants are able to make periodic contributions to acquire investment shares at the respective market price over a purchase period, which will generally be one year. At the end of the purchase period, participants receive free matching shares based on the number of investment shares bought during the purchase period and held until the end of the purchase period. For every four investment shares acquired, SoftwareOne grants each employee one matching share free of charge. The matching shares granted represent an equity-settled share-based payment and are recognized over a service period ending 12 months after the purchase period. The program is ongoing. New awards are granted every year.
LTIP grants the Executive Board performance share unit (PSU) subscription rights and the Executive Leadership Team and selected key employees restricted share unit (RSU) subscription rights. In 2025, SoftwareOne granted new awards under this plan (LTIP25); however, the vesting conditions of the plan has changed compared to previous years.
The number of PSUs granted is determined by dividing the individual LTIP grant on the grant date by the fair value of one PSU, rounding up to the next whole PSU. Each PSU subscription right securitizes a right to receive shares depending on the development of the underlying vesting factor. The vesting factor depends on relative total shareholder return (rTSR). The target factor is 1.00, while the minimum factor is 0.0 and the maximum factor is 2.0. The relative rTSR vesting factor depends on the TSR of the company and the TSR of the SPI Extra Index. A relative TSR of <= \u201333% leads to a vesting factor of 0 and a TSR of >= 33% to a vesting factor of 2.0. The rTSR vesting factor distributes linearly between the target ranges. The award cycle (service period) is 34 months from the contractual grant date.
Each RSU subscription right securitizes a right to receive shares, subject to the service condition of continued employment with SoftwareOne at a defined point in time. The program provides for graded vesting over service periods of ten, 22 and 34 months.
In 2025, a total of 1,305,821 RSUs were granted at a fair value of CHF 6.04 per RSU. The term of the RSUs starts on March 5, 2025 (valuation date), with annual vesting periods ending on January 3, 2026, January 3, 2027, and January 3, 2028.
The number of PSUs granted is determined by dividing the individual LTIP grant on the grant date by the fair value of one PSU, rounding up to the next whole PSU. Each PSU subscription right represents a right to receive shares depending on the development of the underlying vesting factor. The vesting factor depends 40% on revenue growth, 40% on EBITDA margin and 20% on relative total shareholder return (rTSR). In all variables, the target factor is 1.00, while the minimum factor is 0.0 and the maximum factor is 2.0. The revenue growth vesting factor depends on SoftwareOne\u2019s average revenue growth over three years. The EBITDA margin vesting factor depends on SoftwareOne\u2019s average EBITDA margin over three years. Both are determined on a straight-line basis between the target ranges. The rTSR vesting factor depends on the TSR of the company and the TSR of the SPI Extra Index. A relative TSR of <= \u201333% leads to a vesting factor of 0 and a TSR of >= 33% to a vesting factor of 2.0. The rTSR vesting factor distributes linearly between the target ranges. The award cycle (service period) is 34 months from the contractual grant date.
The aforementioned LTIP's are valued using a Monte Carlo simulation. SoftwareOne has taken the following parameters into account in the valuation:
| \n \n \n \n | \n \n \n LTIP25\n \n | \n \n \n LTIP24\n \n | \n
| \n \n \n \n | \n \n \n PSU 2025\n \n | \n \n \n PSU 2024\n \n | \n
| \n \n Valuation date\n \n | \n \n \n March 5, 2025\n \n | \n \n \n December 20, 2024\n \n | \n
| \n \n Remaining term (in years) at December 31, 2025\n \n | \n \n \n 2.0\n \n | \n \n \n 1.2\n \n | \n
| \n \n SWON share price on the valuation date\n \n | \n \n \n CHF 6.04\n \n | \n \n \n CHF 6.42\n \n | \n
| \n \n Price SPI Extra Index on the valuation date\n \n | \n \n \n USD 5,512.52\n \n | \n \n \n USD 5,079.74\n \n | \n
| \n \n Volatility SWON\n \n | \n \n \n 49.61%\n \n | \n \n \n 31.19%\n \n | \n
| \n \n Volatility SPI Extra Index\n \n | \n \n \n 13.91%\n \n | \n \n \n 11.99%\n \n | \n
| \n \n Correlation\n \n | \n \n \n 45.19%\n \n | \n \n \n 37.61%\n \n | \n
| \n \n Risk-free interest rate SWON\n \n | \n \n \n 0.31%\n \n | \n \n \n 0.03%\n \n | \n
| \n \n Risk-free interest rate SPI Extra Index\n \n | \n \n \n 4.12%\n \n | \n \n \n 0.03%\n \n | \n
| \n \n Expected dividend yield\n \n | \n \n \n 5.96%\n \n | \n \n \n 5.61%\n \n | \n
| \n \n Exercise price\n \n | \n \n \n CHF 0.00\n \n | \n \n \n CHF 0.00\n \n | \n
| \n \n Gross profit vesting measure\n \n | \n \n \n 1\n \n | \n \n \n 1\n \n | \n
| \n \n Number of PSUs granted\n \n | \n \n \n 220,043\n \n | \n \n \n 1,107,778\n \n | \n
| \n \n Fair value per PSU\n \n | \n \n \n CHF 6.00\n \n | \n \n \n CHF 15.40\n \n | \n
The term of the PSUs and RSUs granted in 2025 starts on March 5, 2025 (valuation date) and ends on December 31, 2027 (end of the vesting period).\u00a0The term of the PSUs granted in 2024 started on February 29, 2024, and ends on March 15, 2027.
Each RSU subscription right confers a right to receive shares, subject to continued employment with SoftwareOne at a defined point in time. The program provides for graded vesting over service periods of six, twelve and 18 months.
In 2025, a total of 357,000 RSUs were granted at a fair value of CHF 7.41 per RSU. The term of the RSUs starts on July 3, 2025 (valuation date), with vesting periods ending on January 3, 2026, July 3, 2026, and January 3, 2027.
The Board of Director\u2019s fees are settled 60% in cash and 40% in SoftwareOne shares. The share-based part of the compensation is granted immediately after the Annual General Meeting and the election or re-election of the members of the Board of Directors. For the share-based compensation, the Swiss franc amount is converted into shares at the closing price of the ex-date, the first date after the Annual General Meeting the shares are traded ex dividend (for 2025: May 20, 2025). The shares vest until the next Annual General Meeting and are then subject to transfer restrictions of three years.
On June 23,\u00a02025, the granted amount of CHF 0.7 million was converted into 92,296\u00a0shares (CHF\u00a07.66 per share). In the prior year, the granted amount of CHF 0.5 million was converted into 28,569 shares (CHF 17.08 per share).
Key management includes members of the Board of Directors and members of the Executive Board (the Co-CEO\u2019s, CFO, COO and CHRO). Transactions with and the compensation paid or payable to key management for employee services are shown below.
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Services rendered (Board of Directors)\n \n | \n \n \n \u20131.0\n \n | \n \n \n \u20130.9\n \n | \n
| \n \n Share-based payment expenses (Board of Directors)\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n Salaries and other short-term employee benefits\n \n | \n \n \n \u20134.8\n \n | \n \n \n \u20137.1\n \n | \n
| \n \n Share-based payment expenses (Executive Board)\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u20135.8\n \n | \n
| \n \n Post-employment benefits\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20130.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n \u20137.6\n \n | \n \n \n \u201315.1\n \n | \n
As an internationally operating group, SoftwareOne is exposed to contingencies in respect of legal and tax claims in the ordinary course of business. It is not anticipated that any material liabilities will arise from the contingent liabilities.
In 2016, the Federal Revenue Office in S\u00e3o Jos\u00e9 dos Campos (DRF/SJC) issued an infraction notice against SoftwareOne Brazil for the fiscal year 2012, levying alleged debts related to sales tax contributions (PIS/COFINS), charging the difference between the non-cumulative system (9.25%) and the cumulative system (3.65%). The value in dispute of the infraction notice was BRL 9.1 million (CHF 1.3\u00a0million) excluding penalty and interest. As expected, in July 2017, the administrative appeal against this infraction notice was rejected. Thus, SoftwareOne Brazil has filed a further appeal before the Administrative Tax Appeal Court (CARF), which was decided unfavorably at CARF level in October 2021, and SoftwareOne was notified to file the appeal. After the notification of the CARF decision, the company filed a motion of clarification against this decision in October 2022.\u00a0In December 2023, this motion of clarification was denied and SoftwareOne was notified to present a special appeal against the second level decision which was filed in February 2024. The verdict at the administrative level in October 2024 was in favor of the Brazilian tax authorities and the procedure at CARF level was lost. The company decided to issue an insurance bond (in lieu of payment) for the underlying tax amount. The case now continues in the judicial court system. In 2020, the Federal Revenue Office issued a further infraction notice against SoftwareOne Brazil for the fiscal year 2017 for the same subject mentioned above. The value in dispute of the infraction notice was BRL 19.9 million (CHF 2.9\u00a0million) excluding penalties and interest. Thus, SoftwareOne Brazil filed a further appeal before CARF against this infraction notice, which was rejected in July 2021. SoftwareOne submitted an action for annulment at court level in November 2021 secured by a litigation bond. Nevertheless, SoftwareOne Brazil and SoftwareOne group are still of the opinion that the cumulative system was correctly applied in line with industry standards and are defending their position for both fiscal years 2012 and 2017 with the support of third-party lawyers. There were no changes to that assessment in 2025. Although the probability of the outcome of the dispute cannot be reliably predicted at this stage, SoftwareOne does not expect any cash outflow for the litigation at the reporting date.
In 2019, the National Tax Administration Superintendence (SUNAT) in Lima issued an infraction notice against SoftwareOne Peru for the fiscal year 2016, levying alleged debts related to withholding taxes (Impuesto a la Renta de no Domiciliados \u2013 IRND), charging the not contributed withholding taxes related to Software Assurance for payments made abroad. The value in dispute of the infraction notice was PEN 5.4 million (CHF 1.3 million) excluding penalty and interest. According to Resolution 042-2014-SUNAT/5D0000 from 2014, licenses purchased abroad are not subject to withholding taxes, whereas services are subject to withholding tax contribution. In June 2020, the administrative appeal (2nd SUNAT instance) against this infraction notice was rejected. Nevertheless, SoftwareOne Peru and the group are still of the opinion that the non-contribution of withholding taxes was correctly applied as Software Assurance is defined as licensing and not services in line with the industry standard and is defending its position with the support of third-party lawyers. SoftwareOne Peru therefore filed a further appeal before the administrative tax court (Tribunal Fiscal), the last administrative instance, in July 2020, which ruled in favor of SoftwareOne Peru in January 2021. SUNAT took the right to appeal the decision before the civil court in May 2021. In September 2024, the Supreme Court issued a verdict in favor of SUNAT.\u00a0In October 2024, the company filed an amparo request (clarification on verdict) against the Supreme Court decision to the Constitutional Court. The Amparo was still pending at the date of approval of the consolidated financial statements by the Board of Directors. In October 2025, the company received a payment request for the pending tax amount including penalty and interest of PEN 16.7 million (CHF 4.0 million). After making the payment under protest, in November 2025 SoftwareOne Peru filed an appeal with the Constitutional Court requesting remission of interest and fines associated with the tax debt. Given the prospects of success of the two appeals with the Constitutional Court of Peru, the company recorded a claim for reimbursement of amounts paid under other receivables, expecting a cash refund for penalties and interest, and the tax payment may be used to offset outstanding tax liabilities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90055-2": { "value": "As an internationally operating group, SoftwareOne is exposed to contingencies in respect of legal and tax claims in the ordinary course of business. It is not anticipated that any material liabilities will arise from the contingent liabilities.
In 2016, the Federal Revenue Office in S\u00e3o Jos\u00e9 dos Campos (DRF/SJC) issued an infraction notice against SoftwareOne Brazil for the fiscal year 2012, levying alleged debts related to sales tax contributions (PIS/COFINS), charging the difference between the non-cumulative system (9.25%) and the cumulative system (3.65%). The value in dispute of the infraction notice was BRL 9.1 million (CHF 1.3\u00a0million) excluding penalty and interest. As expected, in July 2017, the administrative appeal against this infraction notice was rejected. Thus, SoftwareOne Brazil has filed a further appeal before the Administrative Tax Appeal Court (CARF), which was decided unfavorably at CARF level in October 2021, and SoftwareOne was notified to file the appeal. After the notification of the CARF decision, the company filed a motion of clarification against this decision in October 2022.\u00a0In December 2023, this motion of clarification was denied and SoftwareOne was notified to present a special appeal against the second level decision which was filed in February 2024. The verdict at the administrative level in October 2024 was in favor of the Brazilian tax authorities and the procedure at CARF level was lost. The company decided to issue an insurance bond (in lieu of payment) for the underlying tax amount. The case now continues in the judicial court system. In 2020, the Federal Revenue Office issued a further infraction notice against SoftwareOne Brazil for the fiscal year 2017 for the same subject mentioned above. The value in dispute of the infraction notice was BRL 19.9 million (CHF 2.9\u00a0million) excluding penalties and interest. Thus, SoftwareOne Brazil filed a further appeal before CARF against this infraction notice, which was rejected in July 2021. SoftwareOne submitted an action for annulment at court level in November 2021 secured by a litigation bond. Nevertheless, SoftwareOne Brazil and SoftwareOne group are still of the opinion that the cumulative system was correctly applied in line with industry standards and are defending their position for both fiscal years 2012 and 2017 with the support of third-party lawyers. There were no changes to that assessment in 2025. Although the probability of the outcome of the dispute cannot be reliably predicted at this stage, SoftwareOne does not expect any cash outflow for the litigation at the reporting date.
In 2019, the National Tax Administration Superintendence (SUNAT) in Lima issued an infraction notice against SoftwareOne Peru for the fiscal year 2016, levying alleged debts related to withholding taxes (Impuesto a la Renta de no Domiciliados \u2013 IRND), charging the not contributed withholding taxes related to Software Assurance for payments made abroad. The value in dispute of the infraction notice was PEN 5.4 million (CHF 1.3 million) excluding penalty and interest. According to Resolution 042-2014-SUNAT/5D0000 from 2014, licenses purchased abroad are not subject to withholding taxes, whereas services are subject to withholding tax contribution. In June 2020, the administrative appeal (2nd SUNAT instance) against this infraction notice was rejected. Nevertheless, SoftwareOne Peru and the group are still of the opinion that the non-contribution of withholding taxes was correctly applied as Software Assurance is defined as licensing and not services in line with the industry standard and is defending its position with the support of third-party lawyers. SoftwareOne Peru therefore filed a further appeal before the administrative tax court (Tribunal Fiscal), the last administrative instance, in July 2020, which ruled in favor of SoftwareOne Peru in January 2021. SUNAT took the right to appeal the decision before the civil court in May 2021. In September 2024, the Supreme Court issued a verdict in favor of SUNAT.\u00a0In October 2024, the company filed an amparo request (clarification on verdict) against the Supreme Court decision to the Constitutional Court. The Amparo was still pending at the date of approval of the consolidated financial statements by the Board of Directors. In October 2025, the company received a payment request for the pending tax amount including penalty and interest of PEN 16.7 million (CHF 4.0 million). After making the payment under protest, in November 2025 SoftwareOne Peru filed an appeal with the Constitutional Court requesting remission of interest and fines associated with the tax debt. Given the prospects of success of the two appeals with the Constitutional Court of Peru, the company recorded a claim for reimbursement of amounts paid under other receivables, expecting a cash refund for penalties and interest, and the tax payment may be used to offset outstanding tax liabilities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mms-90095-1": { "value": "Key management includes members of the Board of Directors and members of the Executive Board (the Co-CEO\u2019s, CFO, COO and CHRO). Transactions with and the compensation paid or payable to key management for employee services are shown below.
| \n \n in CHF million\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Services rendered (Board of Directors)\n \n | \n \n \n \u20131.0\n \n | \n \n \n \u20130.9\n \n | \n
| \n \n Share-based payment expenses (Board of Directors)\n \n | \n \n \n \u20130.6\n \n | \n \n \n \u20130.6\n \n | \n
| \n \n Salaries and other short-term employee benefits\n \n | \n \n \n \u20134.8\n \n | \n \n \n \u20137.1\n \n | \n
| \n \n Share-based payment expenses (Executive Board)\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u20135.8\n \n | \n
| \n \n Post-employment benefits\n \n | \n \n \n \u20130.4\n \n | \n \n \n \u20130.7\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Total\n \n | \n \n \n \u20137.6\n \n | \n \n \n \u201315.1\n \n | \n
For management purposes, SoftwareOne is organized by geographical areas, with seven operating segments:
Since the Crayon acquisition, the Co-CEO\u2019s have been the Chief Operating Decision Makers (CODM). They assess each of the operating segments separately for the purpose of evaluating performance and allocating resources. Revenue and adjusted EBITDA are the key performance indicators used by SoftwareOne for internal management and monitoring purposes. The group allocates revenue and expenses to regions based on the end customer\u2019s headquarter domicile since the region is responsible for the global client relationship. There are no intersegment revenues. Different average exchange rates are used in management reporting than for group consolidation purposes.
The Crayon acquisition has led to changes in the internal reporting and how the group monitors the performance on a regional level due to a decrease in the level of detailed cost allocation across the organization. As a result, the segment reporting for 2025 has changed compared to prior year. It presents revenue, third party service delivery costs, personnel expenses, other operating expenses net (after operating income) and EBITDA, rather than the previous year\u2019s breakdown of revenue, directly attributable delivery costs, and indirectly attributable selling, general and administrative costs (SG&A). The group\u2019s financing (including finance income and finance expenses) and income taxes are managed on a group basis and are not allocated to the reportable segments.
The segment totals are reconciled to the figures reported in the consolidated income statement (\u201cTotal\u201d column) as follows:
| \n \n in CHF million\n \n | \n \n \n \n\nDACH\n \n | \n \n \n \n\nWEMEA\n \n | \n \n \n \n\nNordics\n \n | \n \n \n \n\nCEE\n \n | \n \n \n \n\nNORAM\n \n | \n \n \n \n\nLATAM\n \n | \n \n \n \n\nAPAC\n \n | \n \n \n \nTotal\nsegments\n \n | \n \n \n \nRemoval\nCrayon H1\n \n | \n \n \n \n\nGroup\n \n | \n \n \n FX &\nConsoli-\ndation\n \n | \n \n \n \n\nOther\n \n | \n \n \n \n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Revenue\n \n | \n \n \n 346.7\n \n | \n \n \n 317.2\n \n | \n \n \n 211.9\n \n | \n \n \n 77.9\n \n | \n \n \n 175.3\n \n | \n \n \n 89.8\n \n | \n \n \n 267.7\n \n | \n \n \n 1,486.5\n \n | \n \n \n \u2013270.5\n \n | \n \n \n 33.2\n \n | \n \n \n \u20131.4\n \n | \n \n \n \u20134.4\n \n | \n \n \n 1,243.4\n \n | \n
| \n \n Third-party \nservice delivery \ncosts\n \n | \n \n \n \u20138.4\n \n | \n \n \n \u201315.0\n \n | \n \n \n \u20135.5\n \n | \n \n \n \u20138.3\n \n | \n \n \n \u20134.0\n \n | \n \n \n \u20136.0\n \n | \n \n \n \u201318.6\n \n | \n \n \n \u201365.8\n \n | \n \n \n 10.0\n \n | \n \n \n \u20130.4\n \n | \n \n \n 2.0\n \n | \n \n \n 0.5\n \n | \n \n \n \u201353.7\n \n | \n
| \n \n Personnel expenses\n \n | \n \n \n \u2013174.5\n \n | \n \n \n \u2013184.2\n \n | \n \n \n \u2013121.9\n \n | \n \n \n \u201337.8\n \n | \n \n \n \u2013114.6\n \n | \n \n \n \u201365.9\n \n | \n \n \n \u2013139.7\n \n | \n \n \n \u2013838.6\n \n | \n \n \n 189.8\n \n | \n \n \n \u201389.4\n \n | \n \n \n \u20133.9\n \n | \n \n \n \u201338.0\n \n | \n \n \n \u2013780.1\n \n | \n
| \n \n Operating expenses, \nnet (after operating \nincome)\n \n | \n \n \n \u201328.1\n \n | \n \n \n \u201318.9\n \n | \n \n \n \u201317.6\n \n | \n \n \n \u201318.9\n \n | \n \n \n \u201329.4\n \n | \n \n \n \u201312.8\n \n | \n \n \n \u201322.5\n \n | \n \n \n \u2013148.2\n \n | \n \n \n 35.7\n \n | \n \n \n \u201380.4\n \n | \n \n \n 3.4\n \n | \n \n \n \u201312.5\n \n | \n \n \n \u2013202.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EBITDA1)\n \n | \n \n \n 135.7\n \n | \n \n \n 99.1\n \n | \n \n \n 66.9\n \n | \n \n \n 12.9\n \n | \n \n \n 27.3\n \n | \n \n \n 5.1\n \n | \n \n \n 86.9\n \n | \n \n \n 433.9\n \n | \n \n \n \u201335.0\n \n | \n \n \n \u2013137.0\n \n | \n \n \n 0.1\n \n | \n \n \n \u201354.4\n \n | \n \n \n 207.6\n \n | \n
\n 1)EBITDA from segment reporting reconciled to earnings before net financial items, taxes, depreciation and amortization.\n
\nThe most relevant reconciliation items in the \u201cOther\u201d column were related to adjustments\u00a0for items affecting comparability in operating expenses and further accounting-related adjustments:
| \n \n in CHF million\n \n | \n \n \n Integration, \nM&A and \nearn-out \ncosts\n \n | \n \n \n \nCrayon transaction costs\n \n | \n \n \n \nCrayon integration costs\n \n | \n \n \n Cost reduction programs\n \n | \n \n \n Other non-recurring items2)\n \n | \n \n \n IFRS 15\nupfront\nrevenue\nrecognition\n \n | \n \n \n \n\nIFRS 16\nleases\n \n | \n \n \n \n\n\nRemaining\n \n | \n \n \n \n\n\nTotal Other\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Revenue\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20130.4\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.8\n \n | \n \n \n -\n \n | \n \n \n \u20131.2\n \n | \n \n \n \u20134.4\n \n | \n
| \n \n Third-party service \ndelivery costs\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 0.5\n \n | \n \n \n 0.5\n \n | \n
| \n \n Personnel expenses\n \n | \n \n \n \u20134.6\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u201311.8\n \n | \n \n \n \u201317.0\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20133.8\n \n | \n \n \n \u201338.0\n \n | \n
| \n \n Operating expenses, net \n(after operating income)\n \n | \n \n \n 0.8\n \n | \n \n \n \u201322.0\n \n | \n \n \n \u201313.3\n \n | \n \n \n \u20132.2\n \n | \n \n \n 4.9\n \n | \n \n \n 0.1\n \n | \n \n \n 22.7\n \n | \n \n \n \u20133.5\n \n | \n \n \n \u201312.5\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EBITDA1)\n \n | \n \n \n \u20133.8\n \n | \n \n \n \u201322.8\n \n | \n \n \n \u201325.5\n \n | \n \n \n \u201319.2\n \n | \n \n \n 4.9\n \n | \n \n \n \u20132.7\n \n | \n \n \n 22.7\n \n | \n \n \n \u20138.0\n \n | \n \n \n \u201354.4\n \n | \n
\n 1)EBITDA from segment reporting reconciled to earnings before net financial items, taxes, depreciation and amortization.\n
\n\n 2)Other non-recurring items include income of CHF 4.7 million released legal provisions, recorded as other operating income.\n
\n| \n \n in CHF million\n \n | \n \n \n \n\n\n\nDACH\n \n | \n \n \n \n\n\n\nrEMEA23\n \n | \n \n \n \n\n\n\nNORAM\n \n | \n \n \n \n\n\n\nLATAM\n \n | \n \n \n \n\n\n\nAPAC3\n \n | \n \n \n \n\n\nTotal\nsegments\n \n | \n \n \n \n\n\n\nGroup\n \n | \n \n \n \n\nFX &\nConsoli-\ndation\n \n | \n \n \n \n\nOther\n \n | \n \n \n \n\n\n\nTotal\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Revenue\n \n | \n \n \n 301.1\n \n | \n \n \n 303.9\n \n | \n \n \n 145.9\n \n | \n \n \n 100.3\n \n | \n \n \n 159.0\n \n | \n \n \n 1,010.2\n \n | \n \n \n 7.3\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u20132.0\n \n | \n \n \n 1,015.4\n \n | \n
| \n \n Third-party \nservice delivery \ncosts\n \n | \n \n \n \u20139.9\n \n | \n \n \n \u20139.8\n \n | \n \n \n \u20134.2\n \n | \n \n \n \u20135.2\n \n | \n \n \n \u201311.3\n \n | \n \n \n \u201340.4\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n 0.1\n \n | \n \n \n \u201340.2\n \n | \n
| \n \n Personnel expenses\n \n | \n \n \n \u2013142.2\n \n | \n \n \n \u2013163.3\n \n | \n \n \n \u201374.9\n \n | \n \n \n \u201371.8\n \n | \n \n \n \u201381.9\n \n | \n \n \n \u2013534.1\n \n | \n \n \n \u201363.9\n \n | \n \n \n \u20130.8\n \n | \n \n \n \u201358.4\n \n | \n \n \n \u2013657.2\n \n | \n
| \n \n Operating expenses, \nnet (after operating \nincome)\n \n | \n \n \n \u201319.2\n \n | \n \n \n \u201341.3\n \n | \n \n \n \u201326.6\n \n | \n \n \n \u201315.5\n \n | \n \n \n \u20139.1\n \n | \n \n \n \u2013111.7\n \n | \n \n \n \u201356.1\n \n | \n \n \n 0.7\n \n | \n \n \n \u201334.9\n \n | \n \n \n \u2013202.0\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EBITDA1)\n \n | \n \n \n 129.8\n \n | \n \n \n 89.5\n \n | \n \n \n 40.2\n \n | \n \n \n 7.8\n \n | \n \n \n 56.7\n \n | \n \n \n 324.0\n \n | \n \n \n \u2013112.7\n \n | \n \n \n \u20130.1\n \n | \n \n \n \u201395.2\n \n | \n \n \n 116.0\n \n | \n
\n 1)EBITDA from segment reporting reconciled to earnings before net financial items, taxes, depreciation and amortization.\n
\n\n 2)WEMEA, Nordics and CEE reported under segment rEMEA in 2024, refer to note 2 Changes to segment reporting and goodwill allocation. \n
\n\n 2)Middle East subregion was moved from APAC to WEMEA, prior year figures were restated. Refer to note 2 Changes to segment reporting and goodwill allocation.\n
\nThe most relevant reconciliation items in the \u201cOther\u201d column were related to adjustments for items affecting comparability in operating expenses\u00a0and further accounting-related adjustments:
| \n \n in CHF million\n \n | \n \n \n Integration, \nM&A and \nearn-out \nexpenses\n \n | \n \n \n \nRestruc-\nturing \nexpenses2)\n \n | \n \n \n Restruc-\nturing \nMTWO \nbusiness\n \n | \n \n \n \nOther non-recurring items\n \n | \n \n \n \nAdditional bad debt \nexpenses3)\n \n | \n \n \n IFRS 15\nupfront\nrevenue\nrecognition\n \n | \n \n \n \n\nIFRS 16\nleases\n \n | \n \n \n \n\n\nRemaining\n \n | \n \n \n \n\n\nTotal Other\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Revenue\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20132.1\n \n | \n \n \n -\n \n | \n \n \n \n \n | \n \n \n 0.6\n \n | \n \n \n -\n \n | \n \n \n \u20130.5\n \n | \n \n \n \u20132.0\n \n | \n
| \n \n Third-party service \ndelivery costs\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n 0.1\n \n | \n \n \n 0.1\n \n | \n
| \n \n Personnel expenses\n \n | \n \n \n \u201311.6\n \n | \n \n \n \u201343.2\n \n | \n \n \n \u20132.6\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n -\n \n | \n \n \n \u20131.0\n \n | \n \n \n \u201358.4\n \n | \n
| \n \n Operating expenses, net \n(after operating income)\n \n | \n \n \n \u20131.8\n \n | \n \n \n \u201323.2\n \n | \n \n \n \u20132.8\n \n | \n \n \n \u201314.6\n \n | \n \n \n \u20136.0\n \n | \n \n \n -\n \n | \n \n \n 17.0\n \n | \n \n \n \u20133.5\n \n | \n \n \n \u201334.9\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n EBITDA1)\n \n | \n \n \n \u201313.4\n \n | \n \n \n \u201366.4\n \n | \n \n \n \u20137.5\n \n | \n \n \n \u201314.6\n \n | \n \n \n \u20136.0\n \n | \n \n \n 0.6\n \n | \n \n \n 17.0\n \n | \n \n \n \u20134.9\n \n | \n \n \n \u201395.2\n \n | \n
\n 1)EBITDA from segment reporting reconciled to earnings before net financial items, taxes, depreciation and amortization.\n
\n\n 2)Restructuring expenses include costs associated with the operational excellence and go-to-market initiative.\n
\n\n 3)Expenses relate to overdue receivables over 180 days outstanding and under legal dispute, with success rate of collection by SoftwareOne taken down to zero.\n
\nGermany, the US, Switzerland and Norway\u00a0are the main geographical markets for SoftwareOne in 2025 and represent approximately 39% of revenue. In 2024, Germany, the United States, Switzerland, and the Netherlands have been the leading markets, accounting for 46% of total revenue.
Revenue is reported based on the end customer\u2019s headquarter domicile:
| \n \n 2025\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n Germany\n \n | \n \n \n US\n \n | \n \n \n Switzerland\n \n | \n \n \n Norway\n \n | \n \n \n Other countries\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Revenue (IFRS reported)\n \n | \n \n \n 219.3\n \n | \n \n \n 129.1\n \n | \n \n \n 81.9\n \n | \n \n \n 60.8\n \n | \n \n \n 752.3\n \n | \n \n \n 1,243.4\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 10.6\n \n | \n \n \n 20.8\n \n | \n \n \n 162.1\n \n | \n \n \n 121.1\n \n | \n \n \n 1,711.7\n \n | \n \n \n 2,026.3\n \n | \n
| \n \n 2024\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n in CHF million\n \n | \n \n \n Germany\n \n | \n \n \n US\n \n | \n \n \n Switzerland\n \n | \n \n \n Netherlands\n \n | \n \n \n Other countries\n \n | \n \n \n Total\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Revenue (IFRS reported)\n \n | \n \n \n 189.7\n \n | \n \n \n 128.8\n \n | \n \n \n 85.6\n \n | \n \n \n 65.6\n \n | \n \n \n 545.7\n \n | \n \n \n 1,015.4\n \n | \n
| \n \n Non-current assets\n \n | \n \n \n 9.2\n \n | \n \n \n 42.1\n \n | \n \n \n 156.4\n \n | \n \n \n 11.9\n \n | \n \n \n 509.4\n \n | \n \n \n 729.0\n \n | \n
SoftwareOne generated 35%\u00a0of total revenues with our customer Microsoft (prior year: 33%). The revenue derives from all segments. Microsoft is our only customer aggregating more than 10% of our total revenues.
Non-current assets for this purpose consist of tangible, intangible assets, right-of-use assets, and investments in associated companies and are allocated based on the location of the group company.
| \n \n \n \n | \n \n \n \n \n | \n \n \n Voting & capital rights\nin %\n \n | \n \n \n Voting & capital rights\nin %\n \n | \n
| \n \n Company\n \n | \n \n \n Registered country\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Germany, Austria and Switzerland (DACH)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareOne Holding AG\n \n | \n \n \n Stans, CH\n \n | \n \n \n n/a\n \n | \n \n \n n/a\n \n | \n
| \n \n SoftwareONE AG\n \n | \n \n \n Stans, CH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Beteiligungs GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n COMPAREX Beteiligungsverwaltung GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE \u00d6sterreich GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Deutschland GmbH\n \n | \n \n \n Leipzig, DE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Schweiz AG\n \n | \n \n \n Altdorf, CH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Austria GmbH\n \n | \n \n \n Vienna, AT\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Deutschland GmbH\n \n | \n \n \n Munich, DE\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint Group (Germany) GmbH\n \n | \n \n \n Hamburg, DE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Western Europe, Middle East and Africa (WEMEA)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n |
| \n \n SoftwareONE UK Ltd\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Comparex UK Limited 1)\n \n | \n \n \n Birmingham, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Italia Srl\n \n | \n \n \n Assago, IT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE France SAS\n \n | \n \n \n Saint-Quen, FR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE LATAM Holding S.L.\n \n | \n \n \n Madrid, ES\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Software Pipeline Ireland Ltd\n \n | \n \n \n Cork, IE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Luxembourg SARL\n \n | \n \n \n Luxembourg, LU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE BE B.V.\n \n | \n \n \n Brussels, BE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Systematika Distribution S.R.L.\n \n | \n \n \n Lainate, IT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Netherlands B.V.\n \n | \n \n \n Amsterdam, NL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Spain S.A.\n \n | \n \n \n Madrid, ES\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n HeleCloud Limited\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Dino Newco Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Centiq Group Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Taurus Informatics Holdings Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Centiq Limited 1)\n \n | \n \n \n Richmond, London, UK\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Mauritius 2)\n \n | \n \n \n Port Louis, MU\n \n | \n \n \n 49\n \n | \n \n \n 49\n \n | \n
| \n \n SoftwareONE Experts South Africa (Pty) Ltd 2)\n \n | \n \n \n Johannesburg, ZA\n \n | \n \n \n 49\n \n | \n \n \n 49\n \n | \n
| \n \n SoftwareONE AG Trading LLC 2)\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 49\n \n | \n \n \n 49\n \n | \n
| \n \n Predica FZ LLC\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Predica FZ LLC \u2013 Mainland Dubai Branch\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Softwareone Middle East LLC\n \n | \n \n \n Doha, QA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Ltd\n \n | \n \n \n London, UK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint (UK) Limited\n \n | \n \n \n London, UK\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint (Ireland) Limited\n \n | \n \n \n Lismore, IE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon France SAS\n \n | \n \n \n Paris, FR\n \n | \n \n \n 85\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Spain SL\n \n | \n \n \n Madrid, ES\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Licensing Unipessoal LDA\n \n | \n \n \n Lisbon, PT\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon BV\n \n | \n \n \n Amsterdam, NL\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Africa SA\n \n | \n \n \n Johannesburg, ZA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Mauritius Ltd\n \n | \n \n \n Port Louis, MU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon DMCC\n \n | \n \n \n Dubai, AE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Middle East Information Technology Consultants LLC\n \n | \n \n \n Abu Dhabi, AE\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Consulting and Trading\n \n | \n \n \n Doha, QA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Arab Company for Information \nSystems Technology LLC 3)\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 39\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Regional Headquarters\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Wadi Al Omar Co\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Northern Europe (Nordics)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE AB Sweden\n \n | \n \n \n Stockholm, SE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Norway AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Finland Oy\n \n | \n \n \n Espoo, FI\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Denmark Aps\n \n | \n \n \n Birker\u00f8d, DK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Group Holding ASA\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Group AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Consulting AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n TCP-GCP AS\n \n | \n \n \n Oslo, NO\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Consulting A/S\n \n | \n \n \n Copenhagen, DK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon A/S\n \n | \n \n \n Copenhagen, DK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon AB\n \n | \n \n \n Stockholm, SE\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon OY\n \n | \n \n \n Helsinki, FI\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Iceland ehf.\n \n | \n \n \n Reykjavik, IS\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Ice Distributions hf\n \n | \n \n \n Reykjavik, IS\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Sensa ehf\n \n | \n \n \n Reykjav\u00edk, IS\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Central and Eastern Europe (CEE)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Czech Republic s.r.o.\n \n | \n \n \n Prague, CZ\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Slovakia s.r.o.\n \n | \n \n \n Bratislava, SK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Hungary Kft.\n \n | \n \n \n Budapest, HU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Licensing Experts SRL\n \n | \n \n \n Bucharest, RO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE d.o.o. 4)\n \n | \n \n \n Belgrade, RS\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Polska sp. z.o.o.\n \n | \n \n \n Warsaw, PL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE, informacijski sistemi, d.o.o.\n \n | \n \n \n Ljubljana, SL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Ukraine LLC\n \n | \n \n \n Kyiv, UA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Kazakhstan LLP\n \n | \n \n \n Almaty, KZ\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Bulgaria EOOD\n \n | \n \n \n Sofia, BG\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Turkey Bili\u015fim \nTeknolojileri Ticaret A. \u015e.\n \n | \n \n \n Istanbul, TR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Predica sp. z.o.o.\n \n | \n \n \n Warsaw, PL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon doo Beograd\n \n | \n \n \n Belgrade, RS\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Bulgaria OOD\n \n | \n \n \n Sofia, BG\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Krejon Makedonija DOO\n \n | \n \n \n Skopje, NM\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n SIA \u201cCrayon Latvia\u201d\n \n | \n \n \n Riga, LV\n \n | \n \n \n 98\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Romania S.R.L.\n \n | \n \n \n Bucharest, RO\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Poland sp.\u00a0z o.o.\n \n | \n \n \n Warszawa, PL\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Czech Republic and Slovakia s.r.o.\n \n | \n \n \n Prague, CZ\n \n | \n \n \n 90\n \n | \n \n \n -\n \n | \n
| \n \n LLC \u00abCrayon Ukraine\u00bb\n \n | \n \n \n Kyiv, UA\n \n | \n \n \n 97\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Magyarorsz\u00e1g Korl\u00e1tolt Felel\u0151ss\u00e9g\u0171 T\u00e1rsas\u00e1g\n \n | \n \n \n Budapest, HU\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n CRAYON, celovite IT re\u0161itve, d.o.o.\n \n | \n \n \n Ljubljana, SI\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Lithuania UAB\n \n | \n \n \n Vilnius, LT\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Estonia O\u00dc\n \n | \n \n \n Tallinn, EE\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Latin America (LATAM)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Com\u00e9rcio e Servicos \nde Informatica Ltda\n \n | \n \n \n S\u00e3o Paulo, BR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Chile SpA\n \n | \n \n \n Santiago, CL\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Argentina S.R.L.\n \n | \n \n \n Buenos Aires, AR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Puerto Rico Inc.\n \n | \n \n \n San Juan, PR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Bolivia S.R.L.\n \n | \n \n \n La Paz, BO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Colombia S.A.S.\n \n | \n \n \n Bogota, CO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Ecuador Soluciones S.A.\n \n | \n \n \n Quito, EC\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE SW1 Dominican Republic SRL\n \n | \n \n \n Santo Domingo, DO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Softwarepipeline S. de R.L. de C.V.\n \n | \n \n \n Mexico City, MX\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SWON IT Services M\u00e9xico, S.A. de CV.\n \n | \n \n \n Mexico City, MX\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Yaima S.A.\n \n | \n \n \n Guatemala City, GT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Uruguay S.A.\n \n | \n \n \n Montevideo, UY\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Panam\u00e1 S.A.\n \n | \n \n \n Panama City, PA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Peru S.A.C.\n \n | \n \n \n Lima, PE\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE El Salvador S.A. de C.V.\n \n | \n \n \n San Salvador, SV\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Honduras S.A.\n \n | \n \n \n Tegucigalpa, HN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Nicaragua S.A.\n \n | \n \n \n Managua, NI\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE West Indies S.A. 4)\n \n | \n \n \n Gros Islet, LC\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Jamaica Inc. Ltd.\n \n | \n \n \n Kingston, JM\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Trinidad and Tobago Ltd.\n \n | \n \n \n Port of Spain, TT\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Costa Rica S.A.\n \n | \n \n \n San Jos\u00e9, CR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE IT Services S.A.\n \n | \n \n \n San Jos\u00e9, CR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n COMPAREX Brasil S.A.\n \n | \n \n \n S\u00e3o Paulo, BR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n IG Services S.A.S.\n \n | \n \n \n Medellin, CO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n IG Unified Communications S.A.S.\n \n | \n \n \n Medellin, CO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n IG Branch Mexico S.A. de C.V.\n \n | \n \n \n Mexico City, MX\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n BigBranch SA\n \n | \n \n \n Quito, EC\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Intergrupo Dominicana SRL\n \n | \n \n \n Santo Domingo, DO\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE IT Services S.A.\n \n | \n \n \n Panama City, PA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n North America (NORAM)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Inc.\n \n | \n \n \n Milwaukee, Wisconsin, US\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Canada Inc.\n \n | \n \n \n Toronto, CA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Software Experts Holding LLC\n \n | \n \n \n Dallas, US\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts LLC\n \n | \n \n \n Dallas, US\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint Group Inc\n \n | \n \n \n San Francisco, US\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Software Wholesale International Inc\n \n | \n \n \n Denver, US\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint International Holding LLC\n \n | \n \n \n Dover, US\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint ULC\n \n | \n \n \n Montr\u00e9al, CA\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Asia Pacific (APAC)\n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n SoftwareONE Pte. Ltd.\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Experts Sdn Bhd Malaysia\n \n | \n \n \n Kuala Lumpur, MY\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE (Shanghai) Trading Co., Ltd.\n \n | \n \n \n Shanghai, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE India Private Ltd.\n \n | \n \n \n New Delhi, IN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Japan K.K.\n \n | \n \n \n Tokyo, JP\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Ltd. Liability CO. Saudi Arabia\n \n | \n \n \n Riyadh, SA\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Australia Pty. Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Brave New World Consulting Pty. Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Philippines Corp.\n \n | \n \n \n Makati City, PH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Thailand Co. Ltd.\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Software Pipeline Co. Ltd.\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Hong Kong Ltd.\n \n | \n \n \n Hong Kong, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n PT SoftwareONE Indonesia\n \n | \n \n \n Jakarta Pusat, ID\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Taiwan Limited\n \n | \n \n \n Taipei, TW\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Vietnam Co. Ltd.\n \n | \n \n \n Hanoi, VN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Korea Co. Ltd.\n \n | \n \n \n Seoul, KR\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE (New Zealand) Ltd.\n \n | \n \n \n Auckland, NZ\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n P.T. COMPAREX Indonesia 1)\n \n | \n \n \n Jakarta, ID\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n COMPAREX Thailand Limited 4)\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n GorillaStack Pty. Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n ITPC India Private Ltd. 4)\n \n | \n \n \n Pune, IN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n SoftwareONE Lanka (Private) Limited\n \n | \n \n \n Colombo, LK\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Medalsoft International Co., Ltd.\n \n | \n \n \n Shanghai, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Medalsoft Technology (Wuxi) Co., Ltd. 1)\n \n | \n \n \n Wuxi, CN\n \n | \n \n \n -\n \n | \n \n \n 100\n \n | \n
| \n \n Medalsoft Interconnection (Wuxi) Co., Ltd.\n \n | \n \n \n Wuxi, CN\n \n | \n \n \n 100\n \n | \n \n \n 100\n \n | \n
| \n \n Crayon Pte Ltd\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n emt Distribution Pte Ltd\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Singapore Pte Ltd\n \n | \n \n \n Singapore, SG\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts India Pvt Ltd\n \n | \n \n \n Mumbai, IN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon IT Services Private Limited\n \n | \n \n \n Mumbai, IN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Kryptos Technologies Private Limited\n \n | \n \n \n Mumbai, IN\n \n | \n \n \n 50\n \n | \n \n \n -\n \n | \n
| \n \n Kryptos Networks Pvt Ltd\n \n | \n \n \n Chennai, IN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint India Private Limited\n \n | \n \n \n Delhi, IN\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Philippines Inc\n \n | \n \n \n Makati City, PH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Philippines, Inc\n \n | \n \n \n Manila, PH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Technology Philippines, Inc\n \n | \n \n \n Manila, PH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Malaysia Sdn Bhd\n \n | \n \n \n Kuala Lumpur, MY\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Malaysia Sdn. Bhd.\n \n | \n \n \n Kuala Lumpur, MY\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Lanka Pvt Ltd\n \n | \n \n \n Colombo, LK\n \n | \n \n \n 90\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Lanka (Pvt) Limited\n \n | \n \n \n Colombo, LK\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon (Thailand) Co. Ltd\n \n | \n \n \n Bangkok, TH\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon South Korea Ltd\n \n | \n \n \n Seoul, KR\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Japan K.K.\n \n | \n \n \n Tokyo, JP\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n rhipe Hong Kong Limited\n \n | \n \n \n Hong Kong, CN\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n PT Krayon Konsultan Indonesia\n \n | \n \n \n Jakarta, ID\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n PT Rhipe International Indonesia\n \n | \n \n \n Jakarta, ID\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Australia Holding Pty Ltd (Holdco)\n \n | \n \n \n Melbourne, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Software Experts Australia Pty Ltd (Bidco)\n \n | \n \n \n Melbourne, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Crayon Australia PTY LTD\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Navicle Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Limited\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Australia Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Dynamics Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Cloud Solutions Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Rhipe Solutions Australia Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n SmartEncrypt Pty Ltd\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Parallo Pty Ltd ATF Parallo Unit Trust\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Data Confidence Solutions Pty Ltd.\n \n | \n \n \n Sydney, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Dynamic Business IT Solutions Pty Limited\n \n | \n \n \n Brisbane, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n emt Distribution Pty Ltd\n \n | \n \n \n Adelaid, AU\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Anglepoint Group, Inc\n \n | \n \n \n New South Wales, AU\n \n | \n \n \n 80\n \n | \n \n \n -\n \n | \n
| \n \n Crayon New Zealand Ltd\n \n | \n \n \n Auckland, NZ\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
| \n \n Parallo Limited\n \n | \n \n \n Auckland, NZ\n \n | \n \n \n 100\n \n | \n \n \n -\n \n | \n
\n 1)Company was liquidated in 2025.\n
\n\n 2)SoftwareOne is full economic owner of this company and has full control.\n
\n\n 3)Crayon Group AS has control over the entities through 80% ownership in Crayon DMCC, which owns 49% of the share.\n
\n\n 4)Company in liquidation.\n
\n| \n \n Company\n \n | \n \n \n Registered country\n \n | \n \n \n 2025\n \n | \n \n \n 2024\n \n | \n
| \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n \n \n \n \n | \n
| \n \n Cloud Direct Limited\n \n | \n \n \n London, UK\n \n | \n \n \n 23\n \n | \n \n \n -\n \n | \n
From the balance sheet date until the consolidated financial statements were approved by the Board of Directors on March 30, 2026, no significant events requiring disclosures occurred.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:529900GBI88JKWXLGI05", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }