1  General

Ease2pay N.V. supports its customers with an intelligent activation and 

payment platform. With it, operators of gas stations, charging stations, 

parking garages, ports, markets, truck and camper parks create self-

service options for their users. Users control their visit and the use of all

facilities of a location in one convenient app: Book, Stay, Use & Pay. Apps

on users’ mobile phones are connected with the Eas2pay’s Internet-of-

Things (‘IoT’) platform creating the self service for the location and it’s

facilities. Ease2pay intelligent activation and payment platform aims to

decrease the costs of their customers locations and increase the available

service times for sales of locations.

 

Ease2pay N.V. (hereafter referred to as: the “Company” and together with

the entities it controls: the “Group”) is located in the Netherlands at 

Burgermeester Oudlaan 50, 3062 PA, Rotterdam and registered at the

Dutch Commercial Register under number 16081306. The Company’s

shares are listed on Euronext Amsterdam (ticker symbol: EAS2P).

 

The parking and fuelling payment transactions are processed by the group

company Ease2pay B.V. Ease2pay B.V. is for this purpose listed in the

registers of exempt electronic money institutions and exempt payment

service providers at De Nederlandsche Bank N.V. (DNB). Ease2pay B.V. is

exempt in both roles and is therefore not regulated by DNB. In addition,

Ease2pay B.V. is accredited by Currence as an eMandate Service Provider

(MSP) and certified as a Collecting Payment Service Provider (CPSP) for

iDEAL.

These financial statements were authorised for issue by the Management

Board and the Supervisory Board on 26 April 2024. The adoption of these

financial statements will be scheduled for the shareholders in the next

General Meeting (GM), on a date that will be announced on the investor’s

website of the Company.

2  Basis of preparation and general accounting policies

2.1  Statement of compliance 

The consolidated financial statements have been prepared in accordance 

with the International Financial Reporting Standards as adopted by the

European Union (EU-IFRS) and in accordance with the financial reporting

requirements included in Part 9 of Book 2 of the Dutch Civil Code.

 

2.2  Basis of preparation

The consolidated financial statements have been prepared on historical

cost basis, unless stated otherwise. Income and expenses have been

accounted for on an accrual basis.  

 

Going concern

The Group has prepared its financial statements using going concern

accounting policies. The Group experienced net cash outflows of EUR 0.7 

million, reducing cash and cash equivalents to EUR 2.7 million on 

31 December 2023. In 2023, the operational cash outflow was EUR 0.7

million negative, compared to EUR 2.7 million negative in 2022, in prior

year mainly related to one-off advisory expenses related to the Involtum

acquisition.

Management Board also assesses the performance of the Group also on

the basis of the complete platform. The segment information is identical

to the consolidated financial information in these financial statements,

due to the limited size of the reporting segment and the operations of the

payment platform.

 

Segment information is measured according to the same policy as assets,

liabilities, income and expenses in these consolidated financial

statements. The Group is in a scale-up phase for which a strict

management of costs is considered essential. The Management Board

assesses the operational costs that affect directly the Group’s revenue:

 

EUR thousands	2023	2022
Cost of revenue	-1,450	-2,532
Employee benefits	-1,150	-1,107
Other operating expenses	-713	-1,533
Total	-3,313	-5,172
Revenue	2,693	3,382

 

  

  

 

 

 

 

 

 

 

Revenues of approximately EUR 1,172 thousand (2022: EUR 1,565

thousand) are derived from a single external customer.

5  Cost of revenue

EUR thousands	2023	2022
Cost incurred from financial institutions related to	980	904
payment transactions
Cost for power supply and other platform related	109	511
services
Cost of goods sold to enable platform services	361	1,117
	1,450	2,532

 

 

 

 

 

 

 

Cost incurred from financial institutions related to payment transactions

include expenses that relate to external expenses to service these

transactions. Cost for power supply and other platform related services

include expenses that relate to external expenses for power purchases.

Cost of goods sold to enable platform services include expenses for new,

expanding and replacing existing connectors that are sold to customers.

6  Employee benefits

Material accounting policy

Short-term employee benefits are expensed as the related service is

provided. A liability is recognised for the amount expected to be paid if

the Group has a present legal or constructive obligation to pay this

amount because of past service provided by the employee and the

obligation can be estimated reliably. Staff costs comprise directly

attributable costs of staff, Management Board and Supervisory Board

members, social security contributions, pension contribution payments

and temporary staff expenses.

 

Pension contribution payments of the Group relate to defined-

contribution plans, which are recognised as an expense when employees

have rendered services entitling them to the payments.

 

 

 

 

 

 

The Group may receive government grants to compensate personnel

expenses related to specific activities of employees. Grants from the

government are recognised at their fair values where there is a

reasonable assurance that the grant will be received and the Group will

comply with all conditions attached. 

Employee expenses 

 

EUR thousands	2023	2022
Wages and salaries	894	756
Social security contributions	160	135
Pension contribution payments	8	7
Other employee expenses	88	209
	1,150	1,107

 

  

  

 

 

 

 

 

 

 

 

Other employee benefits include expenses of external business

development staff. The Group received government grants related to

employee activities in the amount of EUR 17 thousand (2022: EUR 30

thousand) included as part of the wages and salaries.

 

Workforce

The average number of employees is summarised below.

 

Average number of FTEs	2023	2022
Management	2.0	3.8
Platform and administrative	13.8	10.7
	15.8	14.5

 

  

  

 

 

 

 

 

 

 

 

All employees are employed in the Netherlands.

7  Other operating expenses

 

EUR thousands	2023	2022
Advisory and consultancy expenses	350	1,117
Other expenses	363	416
	713	1,533

 

  

  

 

 

 

 

 

  

  

 

The decrease of the other operating expenses is due to the specific

expenses in 2022 related to the acquisition of Involtum. See note 25.2

Other expenses in the company financial statements for the disclosure of

the remuneration of independent auditors.

8  Finance income and expenses 

See note 2.7 for the relevant accounting policy.

 

EUR thousands	2023	2022
Interest income	41	0
Interest expenses	0	-23
	41	-23

 

  

  

 

  

  

 

9  Income taxes

9.1  Material accounting policy

Tax expense or income recognised in the consolidated financial statement

of profit or loss comprises the sum of deferred tax and current tax that is

not recognised in other comprehensive income or directly in equity.

 

Current and deferred taxes are calculated based on tax rates and tax laws

that were enacted or substantively enacted by the end of the reporting

period. Deferred tax is the tax expected to be payable or recoverable on

differences between the carrying amounts of assets and liabilities in the

financial statements and the corresponding tax bases used in the

computation of taxable profit and is accounted for using the liability

method. Deferred tax assets and liabilities are generally recognised for all

temporary differences. Deferred tax assets could also arise from unused

tax losses and tax credits.

 

Deferred tax assets are recognised to the extent that it is probable that

taxable profits will be available against deductible temporary differences

that can be utilised. In case of a history of recent losses exists, a deferred

tax asset is only recognised for unused tax losses to the extent that

sufficient taxable temporary differences are available or convincing other

evidence exists that sufficient taxable profit will be available to utilise for

the unused tax losses. Such assets and liabilities are not recognised if the

temporary difference arises from the initial recognition (other than in a

business combination) of other assets and liabilities in a transaction that

affects neither the taxable profit nor the accounting profit. Deferred tax

liabilities are not recognised if the temporary difference arises from the

initial recognition of goodwill.

 

The carrying amount of deferred tax assets is reviewed at each reporting

date and adjusted to the extent that it is (no longer) probable that

sufficient taxable profits will be available to allow all or part of the asset

to be recovered.

 

Deferred tax assets and liabilities are offset when there is a legally

enforceable right to set off current tax assets against current tax liabilities

and when they relate to income taxes levied by the same taxation

authority on either the same taxable entity or different taxable entities

which intend to settle their current tax assets and liabilities either on a

net basis or simultaneously.

9.2  Income tax recognised in profit or loss

 

EUR thousands	2023	2022
Current tax benefits or expenses(-)	0	0
Deferred tax benefits or expenses(-)	109	-371
Income tax income or expense(-)	109	-371

 

  

  

 

  

  

 

Reconciliation of the effective income tax rate

A tax rate of 19.0% (2022: 15.0%) is applicable to profits with a threshold

of EUR 200 thousand (2022: EUR 395 thousand). Profits exceeding this

amount are subject to a tax rate of 25.8% (2022: 25.8%).  

The income tax expense or benefit for the year reconciled to the

accounting loss is as follows:

 

EUR thousands	2023	2022
Loss before income tax	-1,478	-26,446
Income tax benefit calculated at 25.8% Dutch income	381	6,823
tax rate
Effect of lower tax rate for income up to EUR 200	-14	-43
thousand (2022: EUR 395 thousand)
Remeasurement deferred tax asset of unused tax losses	0	-457
Tax losses not eligible to recognise deferred tax assets	-258	-6,694
Income tax income or expense (-)	109	-371

 

  

  

 

  

  

 

  

  

 

 

9.3  Deferred taxes 

The changes in deferred taxes are summarised below.

 

  

2023	As at		As at
EUR thousands	1 January	Profit or loss	31 December
Intangible assets	-462	60	-402
Property, plant and equipment	-110	49	-61
	-572	109	-463