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Note 16 - Investments in joint ventures and associates | 12 Months Ended
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Dec. 31, 2020
Investments in subsidiaries, joint ventures and associates |
Investments in subsidiaries joint ventures and associates | 16. Investments in joint ventures and associates 16.1. Joint ventures and associates The breakdown of the balance of “Investments in joint ventures and associates” in the accompanying consolidated balance sheets is as follows:
Joint ventures and associates. Breakdown by entities (Millions of Euros)
| 2020 | 2019 | 2018
Joint ventures |  |  |
Altura Markets, S.V., S.A. | 77 | 73 | 69
RCI Colombia | 36 | 37 | 32
Desarrollo Metropolitanos del Sur, S.L. | 17 | 14 | 13
Other | 19 | 30 | 59
Subtotal | 149 | 154 | 173
Associates |  |  |
Divarian Propiedad, S.A.U. | 567 | 630 | 591
Metrovacesa, S.A. | 285 | 443 | 508
BBVA Allianz Seguros y Reaseguros, S.A. | 250 | - | -
ATOM Bank PLC | 64 | 136 | 138
Solarisbank AG | 39 | 36 | 37
Cofides | 25 | 23 | 22
Redsys servicios de procesamiento, S.L. | 14 | 14 | 12
Servicios Electrónicos Globales S.A. de CV | 11 | 11 | 9
Other | 33 | 41 | 88
Subtotal | 1.288 | 1.334 | 1.405
Total | 1.437 | 1.488 | 1.578
Details of the joint ventures and associates as of December 31, 2020 are shown in Appendix II. The following is a summary of the changes in the in December 31, 2020, 2019 and 2018 under this heading in the accompanying consolidated balance sheets:
Joint ventures and associates. Changes in the year (Millions of Euros)
| Notes | 2020 | 2019 | 2018
Balance at the beginning |  | 1.488 | 1.578 | 1.588
Acquisitions and capital increases |  | 257 | 161 | 309
Disposals and capital reductions |  | (47) | (149) | (516)
Transfers and changes of consolidation method |  | (7) | (27) | 211
Share of profit and loss | 39 | (39) | (42) | (7)
Exchange differences |  | (27) | 10 | 2
Dividends, valuation adjustments and others |  | (188) | (43) | (8)
Balance at the end |  | 1.437 | 1.488 | 1.578
During the year 2020, the most significant changes in the heading “Investments in joint ventures and associates” correspond to the valuation of Metrovacesa and BBVA Allianz Seguros y Reaseguros, S.A. Duri ng the year 2019, there was no significant change in the heading “Investment in joint ventures and associates”. The variation during the year 2018 was mainly explained by the decrease of BBVA Group stakes in Testa Residencial, S.A., Metrovacesa Suelo y Pro moción, S.A. and the contribution of assets and subsequent sale to Cerberus of 80% of the capital stake in Divarian Propiedad, S.A.U., (see Note 3 and Appendix III). Appendix III provides notifications on acquisitions and disposals of holdings in subsidiaries, joint ventures and associates, in compliance with article 155 of the Corporations Act and article 125 of the Securities Market Act 4/2015. 16.2. Other information about associates and joint ventures If these entities had been consolidated ra ther than accounted for using the equity method, the change in each of the lines of balance sheet and the consolidated income statement would not be significant. As of December 31, 2020, 2019 and 2018 there was no financial support agreement or other contr actual commitment to associates and joint ventures entities from the holding or the subsidiaries that are not recognized in the financial statements (see Note 53.2). As of December 31, 2020, 2019 and 2018 there was no contingent liability in connection wi th the investments in joint ventures and associates (see Note 53.2). 16.3. Impairment As described in IAS 36, the book value of the associates and joint venture entities has been compared with their recoverable amount, being the latter calculated as the h igher between the value in use and the fair value minus the cost of sale. For the year ended December 31, 2020, €158 million have been recorded in the Group’s consolidated income statement due to impairment. For the year ended December 31, 2019, €46 millio n were recorded due to impairment. There were no impairments recognized in 2018 (see Note 48).

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