Year Transition concerns from 2025 to 2026

We deployed ERPNext in mid-2025, specifically on September 01, 2025. A 2025 Holiday List was created, employee attendance was marked properly, and leave applications were submitted. However, some leave applications had not yet been created by employees (for the year 2025) even when the year changed to 2026.

Currently, all Shift Types are linked to the 2025 Holiday List, and the 2026 Holiday List has not yet been set up in ERPNext. If I assign the 2026 Holiday List to all Shift Types, will it affect employee leave applications that are yet to be created?

Also what other things will get affect from this change and is there any solutions for the above mentioned problems?

Additional Info: Fiscal Year is from 1st Jan 2025 to 31st Dec 2025