Euronext - 2019 Universal Registration Document

Financial Statements

Consolidated Statement of Changes in Equity

Notes to the Company Financial Statements

NOTE 41 BASIS OF PREPARATION

If the valuation of an consolidated subsidiary based on the net asset value is negative, it will be stated at nil. If and insofar the Company can be held fully or partially liable for the debts of the consolidated subsidiary, or has the firm intention of enabling the consolidated subsidiary to settle its debts, a provision is recognised for this. In determining the value of consolidated subsidiaries with a negative equity, any non-current loans, issued to the consolidated subsidiary, that should be seen as part of the net investment are taken into account. Non-current loans are considered to be part of the net investment if these loans are not expected to be settled in the near future nor planned to be settled in the near future.

Euronext N.V. is a Dutch public company with limited liability ( naamloze Vennootschap ) which has its registered office in Amsterdam under Chamber of Commerce number 60234520. The Company Financial Statements of Euronext N.V. (hereafter: the Company) have been prepared in accordance with Part 9, Book 2 of the Dutch Civil Code. In accordance with sub 8 of article 362, Book 2 of the Dutch Civil Code, the Company’s Financial Statements are prepared based on the accounting principles of recognition, measurement and determination of profit, as applied in the Consolidated Financial Statements. These principles also include the classification and presentation of financial instruments, being equity instruments or financial liabilities. In case no other policies are mentioned, refer to the accounting policies as described in the accounting policies in the Consolidated Financial Statements of this Annual Report. For an appropriate interpretation, the Company Financial Statements of Euronext N.V. should be read in conjunction with the Consolidated Financial Statements.

Implication of new and amended standards and interpretations

As disclosed in Note 3 of the Consolidated Financial Statements, a number of new standards and amendments became applicable for the first time for annual reporting periods commencing 1 January 2019. In general, IFRS 16 “ Leases ” generates the most significant impact. However, the adoption of IFRS 16 had no impact on the Company Financial Statements, as the Company has no contracts containing leases.

Valuation of investments in consolidated subsidiaries

Investments in consolidated subsidiaries are presented at net asset value. Net asset value is based on the measurement of assets, provisions and liabilities and determination of profit based on the principles applied in the Consolidated Financial Statements.

NOTE 42 NET TURNOVER

2019

2018

In thousands of euros

8

Market Data revenues

117,184

109,043

Recharge of Market Data revenues

(117,184)

(109,043)

TOTAL

-

-

Euronext N.V. receives market data revenues on behalf of its subsidiaries, which is subsequently recharged to these subsidiaries. Euronext N.V. does not charge its subsidiaries a fee for its role of

administering the sale of market data to third parties and as such does not recognise a margin on the sales.

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2019 UNIVERSAL REGISTRATION DOCUMENT