| Intangible assets, net |
12 Intangible assets, net | | | | | | | | | | | | | | | Patent, intellectual | | | | | | | | | property rights and | | | | | Concession Assets | | Goodwill | | others | | Total | Cost | | | | | | | | | Balances at January 1, 2025 | | 5,402,300 | | 8,788 | | 23,843 | | 5,434,931 | Acquisitions | | 209,768 | | — | | 2,185 | | 211,953 | Disposals | | (193) | | — | | (144) | | (337) | Other | | 46 | | — | | — | | 46 | Write-off | | (8,619) | | — | | — | | (8,619) | Transfer | | (11) | | — | | 11 | | — | Transfer from property plant and equipment | | 218 | | — | | — | | 218 | Translation differences and inflation adjustment | | (50,838) | | 1,129 | | 2,910 | | (46,799) | Balances at December 31, 2025 | | 5,552,671 | | 9,917 | | 28,805 | | 5,591,393 | Balances at January 1, 2024 | | 4,153,428 | | 9,293 | | 24,661 | | 4,187,382 | Acquisitions | | 219,322 | | — | | 1,435 | | 220,757 | Disposals | | (434) | | — | | (484) | | (918) | Other | | 2,941 | | — | | — | | 2,941 | Transfer | | (1,245) | | — | | — | | (1,245) | Transfer from property plant and equipment | | 16 | | — | | — | | 16 | Translation differences and inflation adjustment | | 1,028,272 | | (505) | | (1,769) | | 1,025,998 | Balances at December 31, 2024 | | 5,402,300 | | 8,788 | | 23,843 | | 5,434,931 | Depreciation | | | | | | | | | Accumulated at January 1, 2025 | | 2,258,994 | | — | | 20,489 | | 2,279,483 | Depreciation of the year | | 212,862 | | — | | 933 | | 213,795 | Disposals | | — | | — | | (95) | | (95) | Write-off | | (5,235) | | — | | — | | (5,235) | Transfer from property plant and equipment | | — | | — | | — | | — | Translation differences and inflation adjustment | | (37,142) | | — | | 2,607 | | (34,535) | Accumulated at December 31, 2025 | | 2,429,479 | | — | | 23,934 | | 2,453,413 | Accumulated at January 1, 2024 | | 1,645,013 | | — | | 21,404 | | 1,666,417 | Depreciation of the year | | 188,465 | | — | | 822 | | 189,287 | Disposals | | (31) | | — | | (284) | | (315) | Transfer from property plant and equipment | | 5 | | — | | — | | 5 | Translation differences and inflation adjustment | | 425,542 | | — | | (1,453) | | 424,089 | Accumulated at December 31, 2024 | | 2,258,994 | | — | | 20,489 | | 2,279,483 | Net balances at December 31, 2025 | | 3,123,192 | | 9,917 | | 4,871 | | 3,137,980 | Net balances at December 31, 2024 | | 3,143,306 | | 8,788 | | 3,354 | | 3,155,448 |
During 2025 and 2024 the Group has not identified impairment indicators except in the Brazilian segment due to the losses from its operations. Therefore, the Group performed the impairment test of the Brazilian CGU (covering concession assets with a carrying value of USD 538.8 million as of December 31, 2025) based on the discounted cash flow model covering the remaining concession period (value in use), considering significant assumptions that required management judgment related to passenger growth rates and discount rate, combined with historical data. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the CGUs of a subsidiary or group of subsidiaries that are expected to benefit from such business combination. As of December 31, 2025 and 2024, the recoverable amount of aforementioned CGU’s exceeded their respective carrying amount.
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