12. Intangible assets and goodwill

in thousand EUR	Goodwill	Trademarks, licences and customer portfolios	Other	Total
Cost
At 1 January 2022¹	266	14 152	7 168	21 586
Additions	–	395	31	426
Currency effects	31	266	154	451
At 31 December 2022	297	14 813	7 353	22 463

Additions	–	143	9	153
Currency effects	17	145	107	268
At 31 December 2023	314	15 100	7 469	22 884

Accumulated amortization and impairment
At 1 January 2022¹	–	11 279	6 049	17 328
Charge for the year	–	282	26	308
Impairment	310	–	–	310
Currency effects	–13	84	29	100
At 31 December 2022	297	11 645	6 104	18 046

Charge for the year	–	282	24	305
Currency effects	17	46	37	100
At 31 December 2023	314	11 972	6 165	18 451

Carrying amount
At 31 December 2022	–	3 168	1 249	4 417
At 31 December 2023	–	3 128	1 305	4 433
¹ Adjustment to the inital purchase accounting, gross to net

Other intangible assets mainly include forest concessions.

Accounting policies

Forest concessions are classified as intangible assets, as the right to direct the use of the concession is not with the Group, but with the government or the land owner. Other intangible assets have a finite useful life and are carried at cost less accumulated amortization and impairment loss. Amortization is calculated using the straight-line method to allocate the cost over their estimated useful lives of 12 to 50 years.

Valuation process for goodwill

The Group’s impairment test for goodwill and intangible assets with indefinite lives is based on value-in-use calculations. The key assumptions used to determine the recoverable amount for the different cash generating units are disclosed in below. The projections are based on knowledge and experience and also on judgements made by management as to the probable economic development of the relevant markets.

Carbon & Energy

In 2022, the goodwill of EUR 0.3 million of MIL Energia Renovável Ltda. was fully impaired.