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17 Goodwill impairment

The goodwill recorded in the books refers exclusively to the majority shareholdings that Gimv is required to include in the statutory consolidation. This goodwill is tested annually for impairment by comparing the carrying value of the subsidiaries in question with the fair value. In 2009-2010 no impairment was needed. In 2010-2011 impairment losses were recorded on the goodwill of majority shareholdings Interbrush (EUR 9 690) and HVEG Investments (Fashion Linq) (EUR 25 843).