Annual Report 2025

Annual Report 2025

Consolidated Statements of Changes in Equity

Consolidated Statements of Changes in Equity

(in thousands of $)
Attributable to owners of the parent

 

Share capital

 

Share premium

 

Accumulated losses

 

Translation differences

 

Share-based payment and income tax deduction on share-based payments

 

Fair value movement on invest­ment in equity instruments designated as at FVTOCI

 

Total equity attributable to owners of the parent

 

Total equity

Balance on January 1, 2023

 

6,640

 

4,309,880

 

(2,109,791)

 

129,280

 

535,247

 

(57,557)

 

2,813,699

 

2,813,699

Loss for the year

 

 

 

 

 

(295,053)

 

 

 

 

 

 

 

(295,053)

 

(295,053)

Other comprehensive income/(loss)

 

 

 

 

 

 

 

2,263

 

 

 

(1,915)

 

348

 

348

Total comprehensive income/(loss) for the year

 

 

 

(295,053)

 

2,263

 

 

(1,915)

 

(294,705)

 

(294,705)

Income tax benefit from excess tax deductions related to share-based payments

 

 

 

 

 

 

 

 

 

2,310

 

 

 

2,310

 

2,310

Share-based payment

 

 

 

 

 

 

 

 

 

234,168

 

 

 

234,168

 

234,168

Issue of share capital

 

288

 

1,196,444

 

 

 

 

 

 

 

 

 

1,196,732

 

1,196,732

Transaction costs for equity issue

 

 

 

(821)

 

 

 

 

 

 

 

 

 

(821)

 

(821)

Exercise of stock options

 

130

 

158,133

 

 

 

 

 

 

 

 

 

158,263

 

158,263

Ordinary shares withheld for payment of employees’ withholding tax liability

 

 

 

(12,139)

 

 

 

 

 

 

 

 

 

(12,139)

 

(12,139)

Balance on December 31, 2023

 

7,058

 

5,651,497

 

(2,404,844)

 

131,543

 

771,725

 

(59,472)

 

4,097,507

 

4,097,507

Profit for the year

 

 

 

 

 

833,040

 

 

 

 

 

 

 

833,040

 

833,040

Other comprehensive loss

 

 

 

 

 

 

 

(4,711)

 

 

 

(648)

 

(5,359)

 

(5,359)

Total comprehensive income/(loss) for the year

 

 

 

833,040

 

(4,711)

 

 

(648)

 

827,681

 

827,681

Income tax benefit from excess tax deductions related to share-based payments

 

 

 

 

 

 

 

 

 

39,650

 

 

 

39,650

 

39,650

Share-based payment

 

 

 

 

 

 

 

 

 

235,856

 

 

 

235,856

 

235,856

Exercise of stock options

 

169

 

319,288

 

 

 

 

 

 

 

 

 

319,457

 

319,457

Ordinary shares withheld for payment of employees’ withholding tax liability

 

 

 

(21,869)

 

 

 

 

 

 

 

 

 

(21,869)

 

(21,869)

Balance on December 31, 2024

 

7,227

 

5,948,916

 

(1,571,804)

 

126,832

 

1,047,231

 

(60,119)

 

5,498,283

 

5,498,283

Profit for the year

 

 

 

 

 

1,292,035

 

 

 

 

 

 

 

1,292,035

 

1,292,035

Other comprehensive income/(loss)

 

 

 

 

 

 

 

11,738

 

 

 

(4,858)

 

6,880

 

6,880

Total comprehensive income/(loss) for the year

 

 

 

1,292,035

 

11,738

 

 

(4,858)

 

1,298,915

 

1,298,915

Income tax benefit from excess tax deductions related to share-based payments

 

 

 

 

 

 

 

 

 

38,780

 

 

 

38,780

 

38,780

Share-based payment

 

 

 

 

 

 

 

 

 

249,349

 

 

 

249,349

 

249,349

Exercise of stock options

 

127

 

278,896

 

 

 

 

 

 

 

 

 

279,023

 

279,023

Ordinary shares withheld for payment of employees’ withholding tax liability

 

 

 

(41,258)

 

 

 

 

 

 

 

 

 

(41,258)

 

(41,258)

Balance on December 31, 2025

 

7,354

 

6,186,554

 

(279,769)

 

138,570

 

1,335,360

 

(64,977)

 

7,323,092

 

7,323,092

Please refer to “Note 12 Share Capital and Share Premium” for more information on the share capital and movement in number of shares. See also “Note 13 Share-Based Payments” for more information on the share-based payments.

The accompanying notes form an integral part of these consolidated financial statements.