14 Financial debts
| In CHF million | 2025 | 2024 | ||
|---|---|---|---|---|
| Current financial debts | ||||
| Financial debts – related parties | 7 | 10 | ||
| Bank loans and overdrafts | 3 | 8 | ||
| Derivatives | 10 | 18 | ||
| Liabilities towards non-controlling interests | 23 | 113 | ||
| Other current financial debts | 23 | 78 | ||
| Total current financial debts | 66 | 227 | ||
| Non-current financial debts | ||||
| Liabilities towards non-controlling interests | 94 | 69 | ||
| Other non-current financial debts | 16 | 23 | ||
| Total non-current financial debts | 110 | 92 | ||
Other current and non-current financial debts mainly comprise deferred purchase considerations from business combinations.
Changes in financial debts are presented below:
| 2025 | 2024 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In CHF million | Current financial debts | Non-current financial debts | Total | Current financial debts | Non-current financial debts | Total | ||||||
| January 1 | 227 | 92 | 319 | 223 | 48 | 271 | ||||||
| Cash inflow from increase in financial debts | 1 | – | 1 | 3 | – | 3 | ||||||
| Cash outflow from repayment of financial debts | –8 | – | –8 | –10 | – | –10 | ||||||
| Other investing & financing cash flows | –70 | – | –70 | –20 | – | –20 | ||||||
| Non-cash items | ||||||||||||
| Reclassifications | 10 | –10 | – | 32 | –32 | – | ||||||
| Disposal of subsidiaries | –3 | – | –3 | |||||||||
| Changes in derivatives | –8 | – | –8 | –2 | – | –2 | ||||||
| Changes in liabilities towards NCI | –90 | 25 | –65 | –69 | 69 | – | ||||||
| Other non-cash items | 7 | 4 | 11 | 69 | 8 | 77 | ||||||
| Exchange differences | –3 | –1 | –4 | 4 | –1 | 3 | ||||||
| December 31 | 66 | 110 | 176 | 227 | 92 | 319 | ||||||
Other investing and financing cash flows include payments related to deferred purchase considerations from business combinations and transactions with non-controlling interests. Other non-cash items mainly relate to additions from such transactions. Refer to notes 22 and 23 for further information.
Liabilities towards non-controlling interests
Liabilities towards non-controlling interests arise from written put options. Initially, they are measured at the present value of the redemption amount.
Subsequent annual remeasurements are recognized in retained earnings without any impact on the income statement.
Liabilities towards non-controlling interests in the amount of CHF 94 million represent liabilities towards the non-controlling interests of XJ-Schindler Elevator Co. Ltd., China (XJ-Schindler), and Volkslift-Schindler Elevator Co. Ltd., China (Volkslift) (previous year: CHF 156 million).
As part of the transactions with non-controlling interests in the reporting year and the previous year, the Group derecognized liabilities towards non-controlling interests that had been recognized in previous years. Further information is disclosed in note 22.
Based on new contractual agreements, the Group recognized additional liabilities towards the non-controlling interests of Volkslift in the reporting year. In the previous year, additional liabilities towards the non-controlling interests of XJ-Schindler were recognized. If contractually agreed call options are not exercised by Schindler in the future, the non-controlling interests of Volkslift and XJ-Schindler have the right to sell part or all of their remaining shares to Schindler, starting from 2027 and 2029, respectively.