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Calc showing sometimes function, sometimes value

I'm using Win10 and LibreOffice

I'm trying to use the function IFS - let's say in this way: IFS(a1=1;"A";a1=2;"B") etc

Now, in some cells I do indeed get what I want: either A or B depending on the value of the cell A1. But sometimes, seemingly completely arbitrarily, I only see the function itself, not the result.

Tools/options/calc/view/formulas NOT on!!

I have tried to write the function directly as well as using the wizard, but what stays is the seemingly random behavior: some cells continue to show value, some the function. And the cell formatting is exactly the same (number or text, doesn't change anything by the way).

Feels like a Bug. Any comments?