Euronext - 2019 Universal Registration Document

Financial Statements 8

Consolidated Statement of Changes in Equity

Amounts Due From Subsidiaries On 1 August 2019, Euronext N.V. entered into a loan agreement of kr275 million with Oslo Børs VPS. The loan has a maturity of five years and bears an interest rate of NIBOR 3 month plus 0.300%. On 23 December 2019, Euronext N.V. entered into a loan agreement of kr3,500 million with Euronext Nordics Holding AS. The loan has a maturity of ten years with a fixed interest rate of 3%. Both loans are drawn to facilitate the acquisition of Oslo Børs VPS. On 19 December 2018, Euronext N.V. entered into a loan agreement of £16.3 million with Euronext UK Holdings Ltd. to enable the

acquisition of Commcise Software Ltd. The loan has a maturity of ten years and bears an interest rate of LIBOR UK 1 month plus 0.125%. The interest amount is received monthly and is recognised in Note 50. In 2018, two new loan agreements were entered into with Euronext US Inc. at a total amount of $5.2million. Both loans have amaturity of ten years with a fixed interest rate of 3.25% and 3.84% respectively. The interest amounts of these loans are received annually and are recognised in Note 50.

NOTE 47 FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

In 2019, the financial assets at fair value through Other Comprehensive Income of €132.8 million represent the direct investment in Euroclear S.A./N.V. and Algomi Ltd., whereas in the comparative period also the equity investment in Oslo Børs VPS was included. For additional information on these investments, reference is made to Note 20 of the Consolidated Financial Statements.

NOTE 48 OTHER NON-CURRENT FINANCIAL AND OTHER ASSETS

The decrease of other non-current financial and other assets are due to the repayment of the two loans granted in the total amount of €6.0 million For additional information of these positions and their credit exposure, reference is made to Note 37.4 of the Consolidated Financial Statements.

NOTE 49 TRADE AND OTHER RECEIVABLES

As at 31 December 2019

As at 31 December 2018

In thousands of euros

Trade receivables Contract receivables

14,701

15,240

9,124

8,511

Allowance for expected credit losses Trade and contract receivables net

(35)

(34)

23,790 27,168

23,717 71,616

Related party receivables

Tax receivables (excluding income tax) Prepayments and accrued income

1,619

1,954

136

152

Other receivables

4,298

1,739

TOTAL

57,011

99,178

In 2019, the increase of other receivables was mainly related to the accrued interest income from the interest rate swaps, entered into in April 2018 (see Note 23). Other items in the other receivables were the transactions in own shares by the liquidity provider, which were settled right after the reporting date. The fair value of the receivables approximates the book value, due to their short-term character.

Trade receivables are non-interest bearing and generally on terms of 30 to 90 days. Contract receivables represent amounts in respect of unbilled revenue, for which the Group has an unconditional right to consideration (i.e. only the passage of time is required before payment of the consideration is due). The higher related party receivable of 2018 is mainly due to the receipt of dividends from Euronext Paris S.A. which changed the significant payable position with this subsidiary into a receivable position of €63.2million as per 31 December 2018 (see also Note 56).

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2019 UNIVERSAL REGISTRATION DOCUMENT