Catom Annual Report 2019 EN

1. Intangible fixed assets

Development

Operation

Client

€

costs

rights

portfolio

Goodwill

Total

BALANCE AS AT 1 JANUARY 2019

Costs of acquisition or production costs

441,102 6,199,086 9,437,149 1,833,372 17,910,709

Accumulated reductions in value

-393,347 -3,299,161 -4,150,527 -1,146,979 -8,990,014

and depreciation

Book values

47,755 2,899,925 5,286,622

686,393 8,920,695

Movements

Investments

0

606,287

560,613

0 1,166,900

Depreciation

-34,110 -495,475 -491,849 -130,604 -1,152,038

Reduction in value

0

0

0

0

0

Balance

-34,110

110,812

68,764 -130,604

14,862

BALANCE AS AT 31 DECEMBER 2019

Costs of acquisition or production costs

441,102 6,805,373 9,997,762 1,833,372 19,077,609

Accumulated reductions in value

-427,457 -3,794,636 -4,642,376 -1,277,583 -10,142,052

and depreciation

Book values

13,645 3,010,737 5,355,386

555,789 8,935,557

Depreciation rates

10% 5 - 10%

5% 5 - 10%

The competitive strength and estimated future life of the operating rights justify amortising these assets over a period of more than five years. An assessment of useful life is made per element, which will not exceed 20 years. This also applies to goodwill, which mainly relates to the acquisition of OK West and OK Noordoost. The principal goodwill components have a useful life of 20 years. The client portfolio represents a large base of regular clients that are profitable for the Group. This is sufficient justification for the company to amortise these assets over a period of 20 years. The investments in 2019 relate to the purchase of operating rights for petrol stations from the operators and the acquisition of operations of oil traders, which are amortised over a period of 10 years in view of their longer useful life. The investment in the client portfolio relates to a considerable number of clients, which is profitable for the group.

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