10. Intangible Assets

Software
€’000

Software under development
€’000

Total
€’000

Cost

At 1 January 2023

299,005

17,399

316,404

Additions (incl internally developed)

-

39,715

39,715

Derecognition charge

-

(2,000)

(2,000)

Transfers

22,542

(22,542)

-

At 31 December 2023

321,547

32,572

354,119

Additions (incl internally developed)

-

51,085

51,085

Transfers

66,308

(66,308)

-

At 31 December 2024

387,855

17,349

405,204

Accumulated amortisation and impairment losses

At 1 January 2023

(253,129)

(294)

(253,423)

Amortisation charge

(22,530)

-

(22,530)

At 31 December 2023

(275,659)

(294)

(275,953)

Amortisation charge

(28,901)

-

(28,901)

At 31 December 2024

(304,560)

(294)

(304,854)

Carrying amounts

At 31 December 2023

45,888

32,278

78,166

At 31 December 2024

83,295

17,055

100,350

The derecognition charge of €2.0 million in 2023 relates to software projects which were derecognised as the project did not result in a capital asset.