Catom Annual Report 2023 EN

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

€

Client portfolio

Balance as at 1 January 2023

Costs of acquisition or production costs

17,060,019

Accumulated impairments and amortisation

-6,690,074

Book values

10,369,945

Movements

Amortisation of intangible fixed assets

-848,832

Adjustment for accumulated impairments and amortisation in previous years

0

Balance

-848,832

Balance as at 31 December 2023

Costs of acquisition or production costs

17,060,019

Accumulated impairments and amortisation

-7,538,906

Book values

9,521,113

Amortisation 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.

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