3.6 Intangible Assets and Goodwill
in CHF thousand | Goodwill | Trademark rights | Customer relationships | Technology platforms | Other intangible assets | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Historical cost | ||||||||||||
Balance at 1 January 2024 | 589,171 | 243,378 | 326,568 | 114,521 | 5,155 | 1,278,793 | ||||||
Addition | – | – | – | 30,008 | 298 | 30,306 | ||||||
Disposal | – | (9,230) | – | (58) | – | (9,288) | ||||||
Effects from business combinations | 39,045 | 1,773 | 5,135 | 4,950 | – | 50,903 | ||||||
Foreign currency translation adjustments | (16) | – | – | – | – | (16) | ||||||
Balance at 31 December 2024 | 628,200 | 235,921 | 331,703 | 149,421 | 5,453 | 1,350,698 | ||||||
Addition | – | 1,321 | 1,231 | 30,478 | – | 33,030 | ||||||
Disposal | – | – | – | (35,050) | (4,642) | (39,692) | ||||||
Reclassification | 811 | (811) | – | |||||||||
Foreign currency translation adjustments | (5) | – | – | – | (5) | |||||||
Balance at 31 December 2025 | 628,195 | 237,242 | 332,934 | 145,660 | – | 1,344,031 | ||||||
Accumulated depreciation, amortisation and impairment | ||||||||||||
Balance at 1 January 2024 | – | (11,284) | (43,009) | (67,141) | (4,365) | (125,799) | ||||||
Addition | – | – | (20,023) | (33,795) | (277) | (54,095) | ||||||
Disposal | – | 9,230 | – | 58 | – | 9,288 | ||||||
Impairment | – | – | – | (12) | – | (12) | ||||||
Balance at 31 December 2024 | – | (2,054) | (63,032) | (100,890) | (4,642) | (170,618) | ||||||
Addition | – | (615) | (20,218) | (29,884) | – | (50,717) | ||||||
Disposal | – | – | – | 35,050 | 4,642 | 39,692 | ||||||
Impairment | – | – | – | (44) | – | (44) | ||||||
Balance at 31 December 2025 | – | (2,669) | (83,250) | (95,768) | – | (181,687) | ||||||
Net carrying value | ||||||||||||
Balance at 31 December 2024 | 628,200 | 233,867 | 268,671 | 48,531 | 811 | 1,180,080 | ||||||
Balance at 31 December 2025 | 628,195 | 234,573 | 249,684 | 49,892 | – | 1,162,344 |
The Group engages in software development activities related to its technology platforms. Development costs that are directly attributable to the creation of identifiable and unique platform applications, including functionalities that enhance marketplace liquidity, monetisation, user engagement, data-driven decision-making, and platform integration, are capitalised. In the reporting year, there were self-developed additions to technology platforms totalling CHF 26,894 thousand (previous year: CHF 25,319 thousand). In contrast, maintenance costs are expensed as incurred.
In June 2025, the Group acquired a perpetual brand license for the trademark rights of FinanceScout24, which it had previously used under an annual licence agreement. The capitalised purchase price of CHF 797 thousand is recognised as an intangible asset under trademark rights.
In the second half of 2025, the Group acquired the online C2B business of CARAUKTION AG. The transaction comprised the proprietary C2B software platform as well as the associated dealer relationships. These assets were recognised as intangible assets under technology platforms (CHF 2,000 thousand) and customer relationships (CHF 1,231 thousand). The variable consideration linked directly to customer relationships (CHF 231 thousand) was capitalised, as the contractual performance conditions were met and the amount became reliably measurable.
The Group also acquired the Swiss lead-generation business of immoverkauf24 GmbH. The assets acquired comprise the Swiss domain immoverkauf24.ch as well as the proprietary software components that support the lead platform. The total purchase consideration amounted to CHF 604 thousand, of which CHF 524 thousand relates to the acquired domain and is presented under additions of trademark rights, while CHF 81 thousand relates to the software platform and is recorded under technology platforms.
In the 2025 financial year, the Group decided to migrate its customers from the Publimmo CRM solution to the Group’s proprietary CRM platform Casasoft, and to sunset the Publimmo trademark rights by the end of 2025 upon completion of the migration. As a result, the Group amortised the trademark rights over the revised remaining useful life, leading to an amortisation expense of CHF 615 thousand.
In addition, fully amortised technology platforms and other intangible assets were disposed of in 2025, as the underlying platforms and assets are no longer in use and are not expected to generate future economic benefits. As the assets were fully amortised at the date of derecognition, the disposal had no impact on the Group’s consolidated statement of profit or loss.
In the previous year, management decided to discontinue the trademark rights of CAR FOR YOU. As a result, the fully impaired trademark rights were derecognised in 2024 and are presented under disposals.
Significant Judgements and Estimates
Management estimates the useful economic lives of intangible assets based on the anticipated period in which the Group expects to derive economic benefits from their use. The useful economic lives are reviewed annually, considering historical trends, forecast expectations and factors such as technological developments, economic and legal changes, and other external influences. The accounting for self-developed intangible assets requires specific assessments regarding future outcomes. The decision to capitalise an asset is based on an evaluation of its technical feasibility, the Group's intention to complete the asset, the probability of generating future economic benefits with the asset, and the availability of resources to complete its development.
Accounting Policies
Acquired intangible assets are recognised at cost and amortised on a straight-line basis over their expected useful lives. Self-developed intangible assets are capitalised when the relevant criteria are met, while research costs are expensed as incurred. The Group’s development activities include costs related to the design and testing of new applications for its technology platforms. Development expenditure is recognised as an intangible asset where the Group can demonstrate:
- The technical feasibility of completing the asset so it can be used or sold;
- Its intention to complete and its ability and intention to use or sell the asset;
- How the asset will generate future economic benefits;
- The availability of resources to complete the development; and
- The ability to reliably measure the expenses during development.
Goodwill is not amortised but tested for impairment annually and whenever there is an indication of impairment. Trademark rights are classified as intangible assets with either indefinite or finite useful lives, depending on the expected period over which they generate economic benefits. Trademark rights are considered to have an indefinite useful life if it can be used and renewed indefinitely without significant cost and if no legal, regulatory, contractual, competitive or economic factors limit its useful life. These assets are tested annually for impairment, and subjected to an annual review that assesses whether the useful lives are still indefinite. If circumstances change and the useful life is revised from indefinite to finite, the asset is amortised prospectively over its revised estimated useful life. Customer relationships are amortised over a useful life ranging from five to 20 years. Technology platforms as well as other intangible assets are amortised over a period of three to five years. Impairment tests are performed on intangible assets with finite useful lives whenever events or changes in circumstances indicate that the carrying amounts may be impaired. The assessment relies on estimates and assumptions made by the Executive Leadership Team and the Board of Directors. As a result, actual amounts may deviate from these estimates. If the carrying amount of an asset exceeds the recoverable amount, an impairment loss is recognised in the statement of profit or loss to reduce the carrying amount to the recoverable amount based on the discounted expected future cash flows or a higher net selling price.