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Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Intangible Assets |
Intangible Assets | Note 17 Intangible Assets ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 | ​ | ​ | 2022 | 2021
EUR’000 |  | Software | Goodwill | Total | Software | Software
Cost |  |  |  |  | ​ |
Beginning of period |  | 662 | — | 662 | 434 | —
Acquisition of businesses |  | — | 16,919 | 16,919 | — | —
Additions |  | 31 | — | 31 | 228 | 434
Exchange differences | ​ | — | (212) | (212) | ​ | ​
31 December |  | 693 | 16,707 | 17,400 | 662 | 434
Accumulated depreciation |  |  |  |  | ​ |
Beginning of period |  | 243 | — | 243 | 32 | —
Depreciation charge |  | 210 | ​ | 210 | 211 | 32
31 December |  | 453 | — | 453 | 243 | 32
Net book value |  | 240 | 16,707 | 16,947 | 419 | 402
​ Software additions during 2023 are mainly related to further developments of the Company software solutions. While 2021 additions were mainly implementation costs for Enterprise Resource and Planning (ERP), Vessel and Crew Management software, 2022 additions are mainly further developments of these initially implemented solutions. ​ Impairment Test ​ Management has performed impairment test of goodwill allocated to each CGU as at December 31, 2023. Goodwill of EUR 16.9 million was recognised on 19 December 2023 relating to the Eneti acquisition.The Group has two CGUs being the transport and installation of offshore wind turbine generators and foundations vessels (WTGFIV), Cadeler’s O-class vessels and Scylla; and the maintenance of offshore wind turbine generators (O&MV) cash-generating unit, comprising Zaratan. At 31 December 2023, Management has not yet concluded on the allocation of goodwill, which could be either to a single CGU or to both CGUs'. Management assessed goodwill for impairment on entity level (being both CGUs), which showed no indication of impairment, based on the quoted price of Cadeler’s shares. For more information related to Goodwill recognised and allocation of goodwill to CGU, please refer to Note 6.

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