Note 17 Impairment assessments For impairment testing goodwill and other intangible assets acquired through business combinations and licenses with indefinite useful lives are allocated to the Norway, Brazil and Belgium CGUs, which are also operating and reportable segments. Carrying amount of goodwill and intangible assets allocated to each of the CGUs: 2021 Fiven Norway Fiven Brazil Fiven Belgium Total segment reporting Amounts in EUR thousand Goodwill 5 390 - - 5 390 Technology 4 033 - - 4 033 Trademark 6 848 - - 6 848 Customer relationships 1 258 659 208 2 125 Other intangible assets 1 419 247 3 1 669 As of 31 December, 2021 18 948 906 211 20 065 2020 Fiven Norway Fiven Brazil Fiven Belgium Total segment reporting Amounts in EUR thousand Goodwill 5 390 - - 5 390 Technology 4 794 - - 4 794 Trademark 6 848 - - 6 848 Customer relationships 1 525 762 254 2 542 Other intangible assets 784 279 8 1 071 As of 31 December, 2021 19 341 1 041 262 20 644 Fiven Group has material non-current assets in the form of both tangible (property, plant and equipment) and intangible assets. The assets are routinely monitored and if there are indications that the value of an asset is no longer recoverable, an impairment test is carried out. Goodwill and intangible assets with an indefinite useful life are not amortized on a regular basis. These assets are therefore tested at least annually for impairment. If any such indication exists, the recoverable amount of the asset or the Cash Generating Unit (CGU) including goodwill, is estimated in order to determine the extent of the impairment loss. The recoverable amount is the higher of fair value less costs of disposal and value in use. Through the acquisition from Saint-Gobain Group in May 2019 Fiven group acquired the following intangible assets with an indefinite useful life: Trademark 6 848 kEUR. Goodwill resulting from the acquisition amounted to 5 390 kEUR. Judgements and estimates Discounted cash flow models are applied to determine the value in use for the cash-generating units. The test process involves identifying expected cash flows relating to the assets and discounting the cash flows to arrive at an estimated value. Future cash flows are based on specific assumptions and plans adopted by the company. If the discounted cash flow is lower than the capital employed, the assets are written down to the recoverable amount. Key assumptions used in the calculation of value in use are growth rate, EBITDA levels, capital expenditure and discount rates. Growth rates: The expected growth rates are based on its current level experienced over the last few years, to long term-growth level in the marked in which the Group operates. Fiven Annual Report 2021 58 Financial statements
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