Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about intangible assets [abstract]

10. INTANGIBLE ASSETS AND GOODWILL

a) Intangible assets

Details of and movement in items comprising intangible assets are as follows:


(In thousand Euros)	Software			Trademarks, industrial property and customer relationships			Development costs			Other			Total
Balance at January 1, 2022		4,843			831			31,514			122			37,310
Additions		2,409			4			26,807			845			30,065
Disposals		—			—			—			—			—
Business Combination (Note 6)		350			3,613			—			—			3,963
Transfers		—			—			123			(123	)		—
Amortization for the year		(1,223	)		(363	)		(8,908	)		—			(10,494	)
Translation differences		(2	)		(43	)		1			—			(44	)
Balance at December 31, 2022		6,377			4,042			49,537			844			60,800
Additions		3,413			68			28,478			1,327			33,285
Disposals		—			—			—			—			—
Business Combination (Note 6)		—			16,144			100			—			16,244
Transfers		—			—			2,171			(2,171	)		—
Amortization for the year		(1,538	)		(807	)		(13,848	)		—			(16,194	)
Translation differences		(1	)		(57	)		(29	)		—			(87	)
Balance at December 31, 2023		8,251			19,390			66,408			—			94,049
Cost
At December 31, 2021		6,020			1,004			37,646			122			44,792
At December 31, 2022		8,777			4,578			64,577			844			78,776
At December 31, 2023		12,189			20,733			95,297			—			128,218
Accumulated amortization
At December 31, 2021		(1,177	)		(173	)		(6,132	)		—			(7,482	)
At December 31, 2022		(2,400	)		(536	)		(15,040	)		—			(17,976	)
At December 31, 2023		(3,938	)		(1,343	)		(28,888	)		—			(34,170	)

During 2023, the Group made investments in several development projects, consisting of payroll expenses and other costs totaling Euros 28,478 thousand (Euros 26,807 thousand in 2022), for which the associated development expenditures met the requirements for capitalization.

Trademarks, industrial property and customer relationships includes trademarks for an amount of Euros 13,205 thousand (Euros 816 thousand in 2022), customer relationships totalling Euros 2,754 thousand (Euros 3,226 thousand in 2022) and industrial properties for an amount of Euros 3,431 thousand (Euros 0 thousand in 2022).

The total additions of internally developed intangibles (Development Costs and Software) were Euros 26,182 thousand (Euros 20,204 thousand in 2022) corresponds to the capitalization carried out by the Group in relation to the product development process, specially for the DC product under the names of Quasar and Supernova, AC product under the names of Pulsar, Cooper and Commander and MyWallbox software.

The average remaining amortization term for these assets is between 3 and 5 years.

Additions of patents, licenses and similar, and computer software totaled Euros 3,481 thousand (Euros 2,413 thousand in 2022) due primarily to the implementation of new software applications. The patents and customer relationships category also include the registration of brands, logos, and design patents for different chargers.

The Group has items in use that were fully depreciated as of December 31, 2023 for an amount of Euros 880 thousand, as compared to Euros 0 thousand as of December 31, 2022.

At December 31, 2023, additions of intangible assets for which payment was still pending totaled Euros 1,952 thousand (Euros 845 thousand at December 31, 2022). The Group has no restrictions on the realizability of its intangible assets and no pledge exists on these assets as of December 31, 2023 and 2022.

At December 31, 2023, there are commitments for the acquisition of intangible assets for Euros 1,127 thousand (Euros 1,728 thousand at December 31, 2022).

b) Goodwill

The Goodwill breakdown by CGU as of December 31, 2023 and December 31, 2022 is as follows:


(In thousand Euros)	ARES		Coil		Nordics		Electromaps/ Software		Total
2023		4,424		3,101		2,403		3,457		13,385
2022		5,571		3,503		2,570		3,457		15,101

The change in the carrying amount of goodwill corresponds to the exchange differences from the Nordics and Coil business combination.