Intangible assets in 2019 | |||||
EUR thousand | Development expenses | Intellectual property rights | Other intangible assets | Work in progress | Total |
Acquisition cost on 1 January 2019 | 11,168 | 1,136 | 311 | 0 | 12,615 |
Additions | 2,680 | 234 | 198 | 287 | 3,399 |
Transfers | 0 | 0 | 0 | 0 | 0 |
Acquisition cost on 31 December 2019 | 13,848 | 1,370 | 509 | 287 | 16,014 |
Accumulated depreciation and impairment | |||||
Impairment on 1 January 2019 | 5,359 | 597 | 170 | 0 | 6,125 |
Depreciation | 1,348 | 139 | 72 | 0 | 1,559 |
Impairment | 0 | 0 | 0 | 0 | 0 |
Accumulated depreciation and impairment Impairment on 31 December 2019 |
6,707 | 736 | 242 | 0 | 7,685 |
Book value on 1 January 2019 | 5,810 | 539 | 141 | 0 | 6,490 |
Book value on 31 December 2019 | 7,142 | 634 | 267 | 287 | 8,329 |
Intangible assets in 2018 | |||||
EUR thousand | Development expenses | Intellectual property rights | Other intangible assets | Work in progress | Total |
Acquisition cost on 1 January 2018 | 8,968 | 984 | 263 | 0 | 10,215 |
Additions | 2,200 | 152 | 48 | 0 | 2,400 |
Reductions | 0 | 0 | 0 | 0 | 0 |
Acquisition cost on 31 December 2018 | 11,168 | 1,136 | 311 | 0 | 12,615 |
Accumulated depreciation and impairment Impairment on 1 January 2018 |
4,674 | 478 | 112 | 0 | 5,263 |
Depreciation | 685 | 119 | 58 | 0 | 862 |
Impairment | 0 | 0 | 0 | 0 | 0 |
Accumulated depreciation and impairment Impairment on 31 December 2018 |
5,359 | 597 | 170 | 0 | 6,126 |
Carrying amount 1 January 2018 | 4,295 | 506 | 151 | 0 | 4,952 |
Book value on 31 December 2018 | 5,810 | 539 | 141 | 0 | 6,489 |
Group’s intangible rights consist of patents and licenses related to IT-programs and other intangible assets consist of IT-programs. At the end of the financial year 2019, the amount of work in progress mainly consist of advance payments for the development of systems.
The Group has invested in the development of new products and the further development of the features and manufacturing processes of existing products. The carrying amount of unfinished product development expenditure was EUR 2,067 thousand in 2019. In 2019, an addition of EUR 2,685 thousand of product development expenditures was recognized on the balance sheet (in 2018 EUR 2,200 thousand.
Impairment testing
The Group has carried out impairment testing for unfinished product development expenditures as at 31 December 2019 and 31 December 2018. The test is a comparison between the carrying amount of the development cost and the recoverable amount, which is defined as the present value of the future cash flows expected to be generated from the asset. Based on the impairment test, the Group’s management did not recognize any indication for a recognition of an impairment loss.