iLOQ-vuosikertomus 2018

Note 12

Intangible assets

Intangible assets 2018
EUR thousand Development expenses Intangible rights Other intangible assets Total
Acquisition cost, Jan 1, 2018 8,968 984 263 10,215
Additions 2,200 152 48 2,400
Acquisition cost, Dec 31, 2018 11,168 1,136 311 12,615
Accumulated depreciation and impairment, Jan 1, 2018 4,674 478 112 5,263
Amortisation 685 119 58 862
Accumulated depreciation and impairment, Dec 31, 2018 5,359 597 170 6,126
Carrying amount, Jan 1, 2018 4,295 506 151 4,952
Carrying amount, Dec 31, 2018 5,810 539 141 6,489
Intangible assets 2017
EUR thousand Development expenses Intangible rights Other intangible assets Total
Acquisition cost, Jan 1, 2017 7,940 858 146 8,944
Additions 1,028 126 117 1,271
Acquisition cost, Dec 31, 2017 8,968 984 263 10,215
Accumulated depreciation and impairment, Jan 1, 2017 4,043 380 63 4,485
Amortisation 578 98 49 725
Impairment 53 0 0 53
Accumulated depreciation and impairment, Dec 31, 2017 4,674 478 112 5,264
Carrying amount, Jan 1, 2017 3,897 478 83 4,459
Carrying amount, Dec 31, 2017 4,295 506 151 4,952

The Group’s intangible rights consist of patents and IT software licenses, and the other intangible assets consist of IT software.

The Group has invested in developing new products and improving the features and manufacturing methods of its existing products. At the end of 2018, the carrying amount of expenses for development in progress totaled EUR 1,048 thousand. In 2018, an addition of EUR 2,200 thousand (2017: EUR 1,028 thousand) was recognized on the balance sheet under research and development expenses.

Impairment testing

An impairment test for the research and development projects in progress was prepared to reflect the statuses on December 31, 2018 and December 31, 2017. The impairment test compares the carrying amount of research and development projects in progress with the recoverable amount of money, which is defined as the present value of future cash flows. The impairment testing did not indicate a need for impairment losses to be recognized.