Catom Annual Report 2022 EN

22. Intangible fixed assets The movements in intangible fixed assets are summarised below:

€

Client portfolio

Balance as at 1 January 2022

Costs of acquisition or production costs

16,997,264

Accumulated impairments and depreciation

-5,778,487

Book values

11,218,777

Movements

Investments

0

Adjustments for investments of previous years

62,755

Effects of new consolidations / acquisitions

0

Amortisation of intangible fixed assets

-848,832

Adjustment for accumulated impairments and depreciation in previous years

-62,755

Balance

-848,832

Balance as at 31 December 2022

Costs of acquisition or production costs

17,060,019

Accumulated impairments and depreciation

-6,690,074

Book values

10,369,945

Depreciation rates

5%

The client portfolio represent a large base of regular clients that are profitable for the Group. This is justification for the company to amortise these assets over a period of 20 years. An assessment of useful life is made per element, with a maximum of 20 years applying. The investment in the client portfolio relates to a considerable number of clients, which is profitable for the group.

89