2.7Financial liabilities
in CHF mn | 2025 | 2024 |
Current bank liabilities | 0.0 | 0.1 |
Current financial liabilities from leases | 63.6 | 58.9 |
Other current financial liabilities to third parties | 3.7 | 0.8 |
Current financial liabilities | 67.3 | 59.8 |
Non-current financial liabilities from leases | 144.9 | 166.8 |
Non-current loans to related parties | -0.0 | -0.0 |
Other non-current financial liabilities to third parties | 8.6 | 16.7 |
Non-current financial liabilities | 153.5 | 183.5 |
Financial liabilities | 220.8 | 243.2 |
Weighted average interest rate | ||
due within 1 year | n/a | n/a |
due within 1 to 5 years | n/a | n/a |
due beyond 5 years | n/a | n/a |
Financial liabilities decreased by a total of CHF 22.5 million compared to the previous year. In the reporting year, additions to lease liabilities were more than offset by repayments, and consequently the net amount was down by a total of CHF 17.3 million. As of year-end, other financial liabilities to third parties mainly relate to the obligation associated with the purchase price payment for buying out the non-controlling interests in NEO ADVERTISING SA. The first tranche of CHF 5.4 million was paid in the reporting year. The purchase price of the shares attributable to non-controlling interests is performance-dependent and was recorded in the balance sheet as of the end of 2025 with a present value of CHF 10.9 million (previous year: CHF 16.0 million). The remaining purchase price is expected to be paid in 2026 or 2027.
Change in net financial liabilities
in CHF mn | Cash and cash equivalents | Current financial assets | Current financial receivables | Current financial liabilities | Non-current financial liabilities | Net financial liabilities |
As of January 2024 | 287.2 | 17.2 | 31.0 | -57.7 | -205.6 | 72.1 |
Addition to / disposal of cash and cash equivalents and current financial assets | 156.5 | -0.5 | -8.1 | - | - | 148.0 |
Proceeds of financial liabilities | 1.2 | - | - | -1.2 | - | - |
Repayment of financial liabilities | - | - | - | - | - | - |
Repayment of lease liabilities | -64.9 | - | - | 64.9 | - | - |
Disposals of consolidated companies | - | - | -0.8 | 4.8 | 8.9 | 12.8 |
Other non-cash changes | - | 0.7 | 4.0 | -2.7 | -54.6 | -52.6 |
Transfers | - | - | - | -67.9 | 67.9 | - |
Currency effects | 0.2 | - | - | - | - | 0.2 |
As of 31 December 2024 | 380.3 | 17.4 | 26.0 | -59.8 | -183.5 | 180.5 |
Addition to / disposal of cash and cash equivalents and current financial assets | 2.9 | -0.1 | -11.3 | - | - | -8.5 |
Proceeds of financial liabilities | 0.0 | - | - | -0.0 | - | - |
Repayment of financial liabilities | -6.3 | - | - | 6.3 | - | - |
Repayment of lease liabilities | -67.9 | - | - | 67.9 | - | - |
Disposals of consolidated companies | - | - | - | 0.1 | 1.4 | 1.5 |
Other non-cash changes | - | 0.3 | 0.4 | -9.1 | -44.0 | -52.4 |
Transfers | - | - | - | -72.6 | 72.6 | - |
Currency effects | -0.2 | - | - | - | - | -0.2 |
As of 31 December 2025 | 309.0 | 17.6 | 15.2 | -67.3 | -153.5 | 121.0 |
The non-cash changes in financial liabilities are mainly due to the liabilities from new leasing contracts.
Financial liabilities are initially recognised at the amount paid, less the transaction costs incurred. Financial liabilities are measured at amortised cost in subsequent periods. Any differences between the amount paid (less transaction costs) and the repayment value are calculated over the repayment period using the effective interest rate method and are recognised in the income statement.
The lease liabilities to be recognised in connection with leases are part of the financial liabilities.
Financial liabilities are classified as current except where the Group has an unlimited entitlement to defer payment of the liability to a date at least 12 months after the balance sheet date.
Borrowing costs that are incurred directly in conjunction with the purchase, construction or completion of an asset that requires a substantial period until being put to its intended use are capitalised as part of the costs of the asset in question. All other borrowing costs are charged to the income statement in the reporting period in which they are incurred.