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Intangible assets | 12 Months Ended
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Dec. 31, 2024
Intangible assets other than goodwill [abstract] |
Intangible Assets | Intangible Assets
(in thousands of USD) |  | Customer contracts |  | Other intangible assets |  | Total intangible assets
At January 1, 2023 |  |  |  |  |  |
Cost |  | 16,569 |  |  | 1,218 |  |  | 17,787 |
Amortisation & translation differences |  | (913) |  |  | (1,128) |  |  | (2,041) |
Net carrying amount |  | 15,656 |  |  | 90 |  |  | 15,746 |
Acquisitions |  | — |  |  | 60 |  |  | 60 |
Amortisation charges |  | (1,556) |  |  | (56) |  |  | (1,612) |
Translation differences |  | — |  |  | — |  |  | — |
Balance at December 31, 2023 |  | 14,100 |  |  | 94 |  |  | 14,194 |
At January 1, 2024 |  |  |  |  |  |
Cost |  | 16,569 |  |  | 1,278 |  |  | 17,847 |
Amortisation & translation differences |  | (2,469) |  |  | (1,184) |  |  | (3,653) |
Net carrying amount |  | 14,100 |  |  | 94 |  |  | 14,194 |
Acquisitions |  | — |  |  | 1,541 |  |  | 1,541 |
Acquisitions through business combinations (Note 26) |  | — |  |  | 3,538 |  |  | 3,538 |
Amortisation charges |  | (1,556) |  |  | (1,325) |  |  | (2,881) |
Translation differences |  | — |  |  | (205) |  |  | (205) |
Balance at December 31, 2024 |  | 12,544 |  |  | 3,643 |  |  | 16,187 |
At December 31, 2024 |  |  |  |  |  |
Cost |  | 16,569 |  |  | 6,357 |  |  | 22,926 |
Amortisation & translation differences |  | (4,025) |  |  | (2,714) |  |  | (6,739) |
Net carrying amount |  | 12,544 |  |  | 3,643 |  |  | 16,187 |
In connection with the acquisition of the remaining 50% in TI Asia and TI Africa in May, 2022, a part of the price paid is related to an intangible asset (customer contracts with NOC for the service part, i.e. recharge of opex, maintenance and crew). Management estimated the fair value of the intangible asset related to the service component of the NOC contract, resulting in a value of $16.6 million at May 31, 2022. This amount will be depreciated till the end of the contractual service, or until July 21, 2032 and September 21, 2032 respectively. The other intangible assets are mainly related to internally capitalized development expenses and software assets.

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- Definition The entire disclosure for intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 38 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=38&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IAS38_g118-128_TI -URIDate 2024-03-27 + Details
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- References No definition available. + Details
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