Balance sheet

Assets

CHF thousand

Note

31 Dec 2025

31 Dec 2024

Cash and cash equivalents

1,279,641

1,290,280

Trade receivables

342

1,565

Other current receivables

7

649,822

338,194

Prepayments and accrued income

68,776

3,082

Current assets

1,998,581

1,633,122

Loans receivable

8

525,000

629,000

Investments

9

4,284,003

4,295,109

Non-current assets

4,809,003

4,924,109

Total assets

6,807,584

6,557,230

Equity and liabilities

CHF thousand

Note

31 Dec 2025

31 Dec 2024

Trade payables

10

65

13,280

Current interest-bearing payables

11

2,015,708

2,030,427

Other current liabilities

25

56

Accruals and deferred income

54,385

107,643

Current provisions

12

34,551

Current liabilities

2,070,182

2,185,957

Bonds

13

525,000

625,000

Non-current provisions

12

40,935

Non-current liabilities

565,935

625,000

Share capital

331

331

Capital contribution reserves

1,740,949

1,740,949

Other capital reserves

3,631

3,631

Legal retained earnings

170

170

Retained earnings carried forward

1,838,951

1,225,486

Net income

587,434

775,706

Equity

14

4,171,467

3,746,274

Total equity and liabilities

6,807,584

6,557,230