2025 in EUR m | Associates | Joint ventures | Total |
Aggregated carrying amount | 41.6 | 1.0 | 42.6 |
Share of result of associates and joint ventures | 9.2 | 0.1 | 9.3 |
Share of other comprehensive income | (3.3) | - | (3.3) |
Share of total comprehensive income | 5.9 | 0.1 | 6.0 |
2024 in EUR m | |||
Aggregated carrying amount | 37.3 | 0.9 | 38.2 |
Share of result of associates and joint ventures | 7.5 | 0.1 | 7.6 |
Share of other comprehensive income | 0.8 | - | 0.8 |
Share of total comprehensive income | 8.3 | 0.1 | 8.4 |
2023 in EUR m | |||
Aggregated carrying amount | 31.5 | 0.9 | 32.4 |
Share of result of associates and joint ventures | 7.3 | 0.1 | 7.4 |
Share of other comprehensive income | (1.8) | - | (1.8) |
Share of total comprehensive income | 5.5 | 0.1 | 5.6 |
The unrecognized share of losses of associates and joint ventures is EUR 8.9m as of December 31, 2025 (2024: EUR 10.6m; 2023: EUR 11.8m). A loss on impairment of associates of EUR 1.1m is reported under other gains and losses, net in 2025 (2024: EUR 0.7m; 2023: EUR 2.7m) (Note 2.5).
Associates are those entities in which the Group has significant influence, but no control, over financial and operating policies. Significant influence is presumed to exist when the Group holds, directly or indirectly, between 20.0% and 50.0% of the voting rights of the entity.
The Group has assessed the nature of its joint arrangements and determined them to be joint ventures. Joint ventures are those entities over whose activities the Group has joint control, established by contractual agreement and requiring unanimous consent of the parties sharing control for strategic financial and operating decisions, and whereby the parties that have joint control have rights to the net assets of the arrangement.
Associates and joint ventures are accounted for using the equity method and are initially recognized at cost. When the Group’s share of losses in an associate or joint venture equals or exceeds its interest, no further losses are recognized unless there is a legal or constructive funding obligation. If the associates or joint ventures subsequently report profits, then the Group resumes recognizing its share of those profits only after these equal the share of losses not previously recognized. The book value of investments in associates and joint ventures consists of the share of net assets and goodwill.
In reporting the results of associates and joint ventures their accounting policies are changed where necessary to ensure consistency with the policies adopted by the Group.