Belysse Group NvEURONEXT: BELYS

Statutory annual accounts

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F-cap 1

ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

IDENTIFICATION DETAILS (at the filing date)

NAME: Belysse Group

Legal form 1: Public limited company

Address:

Franklin Rooseveltlaan

N°.

172

Postal code: 8790 Town: Waregem

Country: Belgium

E-mail address 2 :

Ghent, division Kortrijk

0671.974.626

Company registration number

22-05-2024

DATE of filing the most recent document mentioning the date of publication of

the deed of incorporation and of the deed of amendment of the articles of association.

This filing concerns 3:

EURO (2 decimals)

the ANNUAL ACCOUNTS in 4

the OTHER DOCUMENTS

regarding

the financial year covering the period from

the preceding period of the annual accounts from

approved by the general meeting of

31-12-2024

01-01-2024

31-12-2025

01-01-2025

27-05-2026

to to

The amounts for the preceding period

are /

are not 5 identical to the ones previously published.

Total number of pages filed: 33 Numbers of the sections of the standard model form not filed

because they serve no useful purpose: 6.1, 6.2.1, 6.2.2, 6.2.3, 6.2.4, 6.2.5, 6.3.1, 6.3.2, 6.3.3, 6.3.4, 6.3.5, 6.3.6, 6.4.2, 6.4.3, 6.5.2, 6.6, 6.8,

6.17, 6.20, 7, 8, 9, 10, 11, 12, 13, 14, 15

Signature (name and position)

EQIDNA BV (represented by Andrew James Neuling) CEO

Signature (name and position)

Ragoucy Cyrille Chairman of the Board

Where appropriate, "in liquidation" is stated after the legal form.
Optional mention.
Tick the appropriate box(es).
If necessary, change to currency in which the amounts are expressed.
Strike out what does not apply.

N°.

0671.974.626

F-cap 2.1

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS

COMPLETE LIST with surname, first names, profession, place of residence (address, number, postal code and town) and position within the company

ACCELIUM BV 0675.830.177

Franklin Rooseveltlaan 172, 8790 Waregem, Belgium

Mandate: Director, start: 16-06-2017, end: 23-05-2029 Represented by:

1 VANDEN ABEELE Nicolas

Franklin Rooseveltlaan 172 8790 Waregem Belgium

Heath Road BV 0729.951.130

Franklin Rooseveltlaan 172, 8790 Waregem, Belgium

Mandate: Director, start: 28-05-2025, end: 23-05-2029 Represented by:

1 Deburchgrave Johan

RAGOUCY Cyrille

Franklin Rooseveltlaan 172, 8790 Waregem, Belgium

Mandate: Director, start: 16-06-2017, end: 23-05-2029

KOLBECK Michael

Franklin Rooseveltlaan 172, 8790 Waregem, Belgium

Mandate: Director, start: 01-03-2017, end: 23-05-2029

STRONG Hannah

Franklin Rooseveltlaan 172, 8790 Waregem, Belgium

Mandate: Director, start: 29-05-2017, end: 23-05-2029

MORAR Neal

Franklin Rooseveltlaan 172, 8790 Waregem, Belgium

Mandate: Director, start: 01-03-2018, end: 23-05-2029

TEMPLE Vanessa

Franklin Rooseveltlaan 172, 8790 Waregem, Belgium

Mandate: Director, start: 01-01-2022, end: 23-05-2029

KNOLLYS Claire

Franklin Rooseveltlaan 172, 8790 Waregem, Belgium

Mandate: Director, start: 06-03-2025, end: 23-05-2029

Nr.

0671.974.626

F-cap 2.1

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS (continued from previous page)

Khatnani Vishesh

Franklin Rooseveltlaan 172, 8790 Waregem, Belgium

Mandate: Director, start: 28-05-2025, end: 23-05-2029

PricewaterhouseCoopers Bedrijfsrevisoren BV 0429.501.944 Culliganlaan 5, 1830 Machelen (Brabant Flamand), Belgium Membership number: B00009

Mandate: Auditor, start: 24-05-2023, end: 27-05-2026 Represented by:

1 Wouter Coppens

Blue Tower 1 , box 8 9000 Gent Belgium Revisor, Membership number : A02420

N°.

0671.974.626

F-cap 2.2

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

The managing board declares that not a single audit or correction assignment has been given to a person not authorized to do so by law, pursuant to article 5 of the law of 17 March 2019 concerning the professions of accountant and tax advisor.

The annual accounts were auditor.

/ were not * audited or corrected by a certified accountant or by a company auditor who is not the statutory

If affirmative, should be mentioned hereafter: surname, first names, profession and address of each certified accountant or company auditor and their membership number at their Institute, as well as the nature of their assignment:

Bookkeeping of the company **,
Preparing the annual accounts **,
Auditing the annual accounts and/or
Correcting the annual accounts.

If the tasks mentioned under A or B are executed by accountants or fiscal accountants, the following information can be mentioned hereafter: surname, first names, profession and address of each accountant or fiscal accountant and their membership number at the Institute of Accountants and Tax advisors, as well as the nature of their assignment.

Surname, first names, profession and address

Membership number

Nature of the assignment

(A, B, C and/or D)

* Strike out what does not apply.

** Optional mention.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION ASSETS FORMATION EXPENSES FIXED ASSETS Intangible fixed assets Tangible fixed assets

Land and buildings

Plant, machinery and equipment Furniture and vehicles

Leasing and other similar rights Other tangible fixed assets

Assets under construction and advance payments

Financial fixed assets

Affiliated Companies Participating interests Amounts receivable

Other companies linked by participating interests Participating interests

Amounts receivable Other financial fixed assets

Amounts receivable and cash guarantees

Notes

Codes	Period	Preceding period
20
21/28	260.432.254,00	280.241.000,00
21
22/27
22
23
24
25
26
27
28	260.432.254,00	280.241.000,00
280/1	260.432.254,00	280.241.000,00
280	257.532.254,00	280.241.000,00
281	2.900.000,00
282/3
282
283
284/8
284
285/8

6.1

6.2

6.3

6.4 /

6.5.1

6.15

CURRENT ASSETS Amounts receivable after more than one year

Trade debtors

Other amounts receivable

Stocks and contracts in progress

Stocks

Raw materials and consumables Work in progress

Finished goods

Goods purchased for resale Immovable property intended for sale Advance payments

Contracts in progress

Amounts receivable within one year

Trade debtors

Other amounts receivable

Current investments

Own shares

Other investments

Cash at bank and in hand Accruals and deferred income TOTAL ASSETS

Notes

Codes	Period	Preceding period
29/58	349.463,64	3.173.561,01
29
290
291
3
30/36
30/31
32
33
34
35
36
37
40/41	340.364,35	360.140,95
40	315.161,89	313.519,54
41	25.202,46	46.621,41
50/53
50
51/53
54/58	9.099,29	2.813.420,06
490/1
20/58	260.781.717,64	283.414.561,01

6.5.1 /

6.6

Codes	Period	Preceding period
10/15	260.438.018,20	283.083.121,08
10/11	326.249.997,00	326.249.997,00
10	260.589.621,00	260.589.621,00
100	260.589.621,00	260.589.621,00
101
11	65.660.376,00	65.660.376,00
1100/10	65.660.376,00	65.660.376,00
1109/19
12
13	147.124.528,32	147.124.528,32
130/1
130
1311
1312
1313
1319
132
133	147.124.528,32	147.124.528,32
14	-212.936.507,12	-190.291.404,24
15
19
16
160/5
160
161
162
163
164/5
168

EQUITY AND LIABILITIES EQUITY Contributions

Capital

Issued capital Uncalled capital 6

Beyond capital

Share premium account Other

Revaluation surpluses Reserves

Reserves not available

Legal reserve

Reserves not available statutorily Purchase of own shares Financial support

Other Untaxed reserves Available reserves

Accumulated profits (losses) Capital subsidies Advance to shareholders on the distribution of net assets 7

(+)/(-)

6.7.1

PROVISIONS AND DEFERRED TAXES Provisions for liabilities and charges Pensions and similar obligations Taxes

Major repairs and maintenance Environmental obligations Other liabilities and charges

Deferred taxes

6.8

AMOUNTS PAYABLE Amounts payable after more than one year

Financial debts Subordinated loans

Unsubordinated debentures

Leasing and other similar obligations Credit institutions

Other loans Trade debts

Suppliers

Bills of exchange payable

Advance payments on contracts in progress Other amounts payable

Amounts payable within one year

Current portion of amounts payable after more than one year falling due within one year

Financial debts Credit institutions Other loans

Trade debts

Suppliers

Bills of exchange payable

Advance payments on contracts in progress Taxes, remuneration and social security

Taxes

Remuneration and social security Other amounts payable

Accruals and deferred income TOTAL LIABILITIES

Codes	Period	Preceding period
17/49	343.699,44	331.439,93
17
170/4
170
171
172
173
174
175
1750
1751
176
178/9
42/48	343.699,44	331.439,93
42
43
430/8
439
44	340.780,96	327.190,42
440/4	340.780,96	327.190,42
441
46
45	2.918,48	4.249,51
450/3	2.918,48	4.249,51
454/9
47/48
492/3
10/49	260.781.717,64	283.414.561,01

6.9

PROFIT AND LOSS ACCOUNT
		Notes
Operating income
Turnover		6.10
Stocks of finished goods and work and contracts in progress: increase (decrease)	(+)/(-)
Produced fixed assets
Other operating income		6.10
Non-recurring operating income		6.12

Codes	Period	Preceding period
70/76A	1.223.480,90	778.789,58
70	1.223.480,90	778.789,58
71
72
74
76A
60/66A	1.227.277,48	762.460,09
60
600/8
609
61	1.209.252,49	744.786,80
62
630
631/4
635/8
640/8	18.024,99	17.673,29
649
66A
9901	-3.796,58	16.329,49

Operating charges

Goods for resale, raw materials and consumables Purchases

Stocks: decrease (increase) Services and other goods

Remuneration, social security and pensions

Amortisations of and other amounts written down on formation expenses, intangible and tangible fixed assets

(+)/(-)

6.10

Amounts written down on stocks, contracts in progress

and trade debtors: additions (write-backs)

(+)/(-)

6.10

Provisions for liabilities and charges: appropriations (uses

and write-backs)	(+)/(-)	6.10
Other operating charges		6.10
Operating charges reported as assets under restructuring costs	(-)
Non-recurring operating charges		6.12
Operating profit (loss)	(+)/(-)

Codes	Period	Preceding period
75/76B	68.102,89	105.073,45
75	68.102,89	105.073,45
750
751
752/9	68.102,89	105.073,45
76B
65/66B	22.709.409,19	15.243,34
65	663,19	15.243,34
650
651
652/9	663,19	15.243,34
66B	22.708.746,00
9903	-22.645.102,88	106.159,60
780
680
67/77
670/3
77
9904	-22.645.102,88	106.159,60
789
689
9905	-22.645.102,88	106.159,60

Notes

Financial income

Recurring financial income

Income from financial fixed assets Income from current assets

Other financial income 6.11

Non-recurring financial income 6.12

Financial charges 6.11

Debt charges
Amounts written down on current assets other than stocks, contracts in progress and trade debtors: additions (write-backs)	(+)/(-)
Other financial charges
Non-recurring financial charges		6.12
Profit (Loss) for the period before taxes	(+)/(-)
Transfer from deferred taxes
Transfer to deferred taxes
Income taxes on the result	(+)/(-)	6.13

Recurring financial charges

Taxes

Adjustment of income taxes and write-back of tax provisions

Profit (Loss) of the period Transfer from untaxed reserves Transfer to untaxed reserves Profit (Loss) of the period available for appropriation

(+)/(-)

APPROPRIATION ACCOUNT Profit (Loss) to be appropriated

Profit (Loss) of the period available for appropriation Profit (Loss) of the preceding period brought forward

Transfers from equity from contributions from reserves Appropriations to equity

to contributions to legal reserve to other reserves

Profit (loss) to be carried forward Shareholders' contribution in respect of losses Profit to be distributed

Compensation for contributions Directors or managers Employees

Other beneficiaries

(+)/(-)

Codes	Period	Preceding period
9906	-212.936.507,12	-190.291.404,24
(9905	-22.645.102,88	106.159,60
) 14P	-190.291.404,24	-190.397.563,84
791/2
791
792
691/2
691
6920
6921
(14)	-212.936.507,12	-190.291.404,24
794
694/7
694
695
696
697

(+)/(-)

N°.

0671.974.626

F-cap 6.4.1

Codes	Period	Preceding period
8391P 8361 8371 8381 8391 8451P 8411 8421 8431 8441 8451 8521P 8471 8481 8491 8501 8511 8521 8551P 8541 8551 (280) 281P 8581 8591 8601 8611 8621 8631 (281) 8651	xxxxxxxxxxxxxxx 468.927.446,90 xxxxxxxxxxxxxxx xxxxxxxxxxxxxxx 22.708.746,00 211.395.192,90 xxxxxxxxxxxxxxx 257.532.254,00 xxxxxxxxxxxxxxx 2.900.000,00 2.900.000,00	468.927.446,90



		188.686.446,90

STATEMENT OF FINANCIAL FIXED ASSETS AFFILIATED COMPANIES - PARTICIPATING INTERESTS AND SHARES Acquisition value at the end of the period Movements during the period

Acquisitions

Sales and disposals

Transfers from one heading to another Acquisition value at the end of the period Revaluation surpluses at the end of the period

Movements during the period

Recorded

Acquisitions from third parties Cancelled

Transferred from one heading to another

Revaluation surpluses at the end of the period Amounts written down at the end of the period Movements during the period

Recorded Written back

Acquisitions from third parties Cancelled owing to sales and disposals

Transferred from one heading to another

Amounts written down at the end of the period Uncalled amounts at the end of the period Movements during the period Uncalled amounts at the end of the period NET BOOK VALUE AT THE END OF THE PERIOD AFFILIATED COMPANIES - AMOUNTS RECEIVABLE NET BOOK VALUE AT THE END OF THE PERIOD Movements during the period Appropriations Repayments

Amounts written down Amounts written back Exchange differences Other movements

NET BOOK VALUE AT THE END OF THE PERIOD ACCUMULATED AMOUNTS WRITTEN DOWN ON AMOUNTS RECEIVABLE AT END OF THE PERIOD

(+)/(-)

N°.

0671.974.626

F-cap 6.5.1

PARTICIPATING INTERESTS INFORMATION PARTICIPATING INTERESTS AND OTHER RIGHTS IN OTHER COMPANIES

The following list mentions the companies in which the company holds a participating interest (recorded in headings 280 and 282 of assets), as well as the companies in which the company holds rights (recorded in headings 284 and 51/53 of assets) for an amount of at least 10% of the capital, the equity or a class of shares of the company.

NAME, full address of the REGISTERED OFFICE and, for an entity governed by Belgian law, the COMPANY REGISTRATION NUMBER	Rights held				Data extracted from the most recent annual accounts
	Nature	Directly		Subsidiaries	Annual accounts as per	Currency code	Equity	Net result
		Number	%	%			(+) or (-) (in units)
LSF9 Belysse Issuer S.à r.l S.A.R.L Boulevard F.W. Raiffeisen 15 L-2411 Luxemburg Luxembourg	Registered shares without nominal value	137.848.446	100,00	0,00	31-12-2024	EUR	278.607.678	-422.513

STATEMENT OF CAPITAL AND SHAREHOLDERS' STURCTURE

Codes	Period	Preceding period
100P	XXXXXXXXXXXXXX	260.589.621,00
(100)	260.589.621,00

STATEMENT OF CAPITAL Capital

Codes	Period	Number of shares
	260.589.621,00	35.943.396
8702	XXXXXXXXXXXXXX
8703	XXXXXXXXXXXXXX	35.943.396

Issued capital at the end of the period Issued capital at the end of the period

Modifications during the period

Composition of the capital Share types

Registered shares without nominal value Registered shares

Shares dematerialized

Codes

Uncalled amount

Called up amount, unpaid

(101)

8712

XXXXXXXXXXXXXX

Unpaid capital

Uncalled capital

Called up capital, unpaid

Shareholders that still need to pay up in full

Codes	Period
8721
8722
8731
8732
8740
8741
8742
8745
8746
8747
8751	260.589.621,00

Own shares

Held by the company itself Amount of capital held Number of shares

Held by a subsidiary Amount of capital held Number of shares

Commitments to issuing shares

Owing to the exercise of conversion rights Amount of outstanding convertible loans Amount of capital to be subscribed

Corresponding maximum number of shares to be issued Owing to the exercise of subscription rights

Number of outstanding subscription rights Amount of capital to be subscribed

Corresponding maximum number of shares to be issued

Authorised capital not issued

Codes

Period

8761

8762

8771

8781

Shares issued, non-representing capital

Distribution

Number of shares

Number of voting rights attached thereto Allocation by shareholder

Number of shares held by the company itself Number of shares held by its subsidiaries

Period

ADDITIONAL NOTES REGARDING CONTRIBUTIONS (INCLUDING CONTRIBUTIONS IN THE FORM OF SERVICES OR KNOW-HOW)

N°.

0671.974.626

F-cap 6.7.2

SHAREHOLDERS' STRUCTURE OF THE COMPANY AT YEAR-END CLOSING DATE

As reflected in the notifications received by the company pursuant to article 7:225 of the Belgian Companies and Associations Code, article 14 fourth paragraph of the law of 2 May 2007 on the publication of major holdings and article 5 of the Royal Decree of 21 August 2008 on further rules for certain multilateral trading facilities.

NAME of the persons who hold rights of the company, together with the ADDRESS (of the registered office, in the case of a legal person) and the COMPANY REGISTRATION NUMBER, in the case of an company governed by Belgian law	Rights held
	Nature	Number of voting rights		%
	Nature	Attached to securities	Not attached to securities	%
LSF9 Belysse Holdco S.à.r.l.	Registered shares without nominal value	19.408.879	0	54,00
Prime AIFM Lux S.A.	Registered shares without nominal value	2.529.400	0	7,04
Management	Registered shares without nominal value	83.500	0	0,23
Public Shareholders	Registered shares without nominal value	11.693.646	0	32,53
Ide Joris	Registered shares without nominal value	2.227.971	0	6,20

Codes

Period

8801

8811

8821

8831

8841

8851

8861

8871

8881

8891

8901

(42)

8802

8812

8822

8832

8842

8852

8862

8872

8882

8892

8902

8912

8803

8813

8823

8833

8843

8853

8863

8873

8883

8893

8903

8913

STATEMENT OF AMOUNTS PAYABLE AND ACCRUALS AND DEFERRED INCOME (LIABILITIES) BREAKDOWN OF AMOUNTS PAYABLE WITH AN ORIGINAL TERM OF MORE THAN ONE YEAR, ACCORDING TO THEIR RESIDUAL MATURITY Current portion of amounts payable after more than one year falling due within one year

Financial debts Subordinated loans

Unsubordinated debentures

Leasing and other similar obligations Credit institutions

Other loans

Trade debts

. Suppliers

Bills of exchange payable

Advance payments on contracts in progress Other amounts payable

Total current portion of amounts payable after more than one year falling due within one year Amounts payable with a remaining term of more than one year, yet less than 5 years

Financial debts Subordinated loans

Unsubordinated debentures

Leasing and other similar obligations Credit institutions

Other loans

Trade debts

. Suppliers

Bills of exchange payable

Advance payments on contracts in progress Other amounts payable

Total amounts payable with a remaining term of more than one year, yet less than 5 years Amounts payable with a remaining term of more than 5 years

Financial debts Subordinated loans

Unsubordinated debentures

Leasing and other similar obligations Credit institutions

Other loans

Trade debts

. Suppliers

Bills of exchange payable

Advance payments on contracts in progress Other amounts payable

Amounts payable with a remaining term of more than 5 years

Codes

Period

8921

8931

8941

8951

8961

8971

8981

8991

9001

9011

9021

9051

9061

8922

8932

8942

8952

8962

8972

8982

8992

9002

9012

9022

9032

9042

9052

9062

AMOUNTS PAYABLE GUARANTEED (included in accounts 17 and 42/48 of liabilities) Amounts payable guaranteed by the Belgian government agencies

Financial debts Subordinated loans

Unsubordinated debentures

Leasing and other similar obligations Credit institutions

Other loans Trade debts

Suppliers

Bills of exchange payable

Advance payments on contracts in progress Remuneration and social security

Other amounts payable

Total of the amounts payable guaranteed by the Belgian government agencies Amounts payable guaranteed by real securities given or irrevocably promised by the company on its own assets

Financial debts Subordinated loans

Unsubordinated debentures

Leasing and other similar obligations Credit institutions

Other loans

Trade debts

. Suppliers

Bills of exchange payable

Advance payments on contracts in progress Taxes, remuneration and social security

Taxes

Remuneration and social security Other amounts payable

Total amounts payable guaranteed by real securities given or irrevocably promised by the company on its own assets

Codes	Period
9072
9073	2.918,48
450
9076
9077

TAXES, REMUNERATION AND SOCIAL SECURITY Taxes(headings 450/3 and 178/9 of liabilities)

Outstanding tax debts Accruing taxes payable Estimated taxes payable

Remuneration and social security (headings 454/9 and 178/9 of liabilities)

Amounts due to the National Social Security Office

Other amounts payable in respect of remuneration and social security

Period

ACCRUALS AND DEFERRED INCOME Allocation of heading 492/3 of liabilities if the amount is significant

N°.

0671.974.626

F-cap 6.10

Codes

Period

Preceding period

740

9086

9087

9088

620

621

622

623

624

OPERATING RESULTS OPERATING INCOME Net turnover

Allocation by categories of activity

Allocation by geographical market

Other operating income

Operating subsidies and compensatory amounts received from public authorities

OPERATING CHARGES Employees for whom the company submitted a DIMONA declaration or who are recorded in the general personnel register

Total number at the closing date

Average number of employees calculated in full-time equivalents Number of actual hours worked

Personnel costs

Remuneration and direct social benefits Employers' contribution for social security Employers' premiums for extra statutory insurance Other personnel costs

Codes	Period	Preceding period
635
9110
9111
9112
9113
9115
9116
640	998,47	967,52
641/8	17.026,52	16.705,77
9096
9097
9098
617

Retirement and survivors' pensions

Provisions for pensions and similar obligations

Appropriations (uses and write-backs)

Depreciations

On stock and contracts in progress Recorded

Written back On trade debtors

Recorded Written back

Provisions for liabilities and charges

Appropriations

Uses and write-backs

Other operating charges Taxes related to operation Other Hired temporary staff and personnel placed at the company's disposal

Total number at the closing date

Average number calculated in full-time equivalents Number of actual hours worked

Costs to the company

(+)/(-)

Codes

Period

Preceding period

9125

9126

754

6501

6502

6510

6511

653

6560

6561

654

655

54,04

0,00

RECURRING FINANCIAL INCOME Other financial income

Subsidies paid by public authorities, added to the profit and loss account

Capital subsidies Interest subsidies

Allocation of other financial income

Exchange differences realized Other

RECURRING FINANCIAL CHARGES Depreciation of loan issue expenses Capitalised interests Depreciations on current assets

Recorded Written back

Other financial charges

Amount of the discount borne by the company, as a result of negotiating amounts receivable

Provisions of a financial nature

Appropriations

Uses and write-backs

Allocation of other financial costs

Exchange differences realized

Results from the conversion of foreign currencies Other

Codes	Period	Preceding period
76
(76A)
760
7620
7630
764/8
(76B)
761
7621
7631
769
66	22.708.746,00
(66A)
660
6620
6630
664/7
6690
(66B)	22.708.746,00
661	22.708.746,00
6621
6631
668
6691

NON-RECURRING INCOME Non-recurring operating income

Write-back of depreciation and of amounts written off intangible and tangible fixed assets

Write-back of provisions for extraordinary operating liabilities and charges

Capital profits on disposal of intangible and tangible fixed assets Other non-recurring operating income

Non-recurring financial income

Write-back of amounts written down financial fixed assets

Write-back of provisions for extraordinary financial liabilities and charges

Capital profits on disposal of financial fixed assets Other non-recurring financial income

NON-RECURRING CHARGES Non-recurring operating charges

Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets

Provisions for extraordinary operating liabilities and charges: appropriations (uses)

Capital losses on disposal of intangible and tangible fixed assets Other non-recurring operating charges

Non-recurring operating charges carried to assets as restructuring costs

Non-recurring financial charges

Amounts written off financial fixed assets

Provisions for extraordinary financial liabilities and charges -appropriations (uses)

Capital losses on disposal of financial fixed assets Other non-recurring financial charges

Non-recurring financial charges carried to assets as restructuring costs

(+)/(-)

(-)

(+)/(-)

(-)

Codes	Period
9134
9135
9136
9137
9138
9139
9140
	22.708.746,00
	67.731,95

INCOME TAXES Income taxes on the result of the period

Income taxes paid and withholding taxes due or paid

Excess of income tax prepayments and withholding taxes paid recorded under assets Estimated additional taxes

Income taxes on the result of prior periods

Additional income taxes due or paid

Additional income taxes estimated or provided for

Major reasons for the differences between pre-tax profit, as it results from the annual accounts, and estimated taxable profit

Disallowed impairment losses on investments Use of transferred loss

Period

Influence of non-recurring results on income taxes on the result of the period

Codes	Period
9141	1.529.530,97
9142	1.529.530,97
9144

Sources of deferred taxes

Deferred taxes representing assets

Accumulated tax losses deductible from future taxable profits

Deferred taxes representing liabilities

Codes	Period	Preceding period
9145	197.576,87	286.622,84
9146	65.842,84	603.748,14
9147
9148

Allocation of deferred taxes representing liabilities

VALUE-ADDED TAXES AND TAXES BORNE BY THIRD PARTIES Value-added taxes charged

To the company (deductible) By the company

Amounts withheld on behalf of third party by way of

Payroll withholding taxes

Withholding taxes on investment income

Codes	Period
9149
9150
9151
9153
91611
91621
91631
91711
91721
91811	257.532.254,00
91821
91911
91921
92011
92021

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET PERSONAL GUARANTEES PROVIDED OR IRREVOCABLY PROMISED BY THE COMPANY AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES Of which

Bills of exchange in circulation endorsed by the company

Bills of exchange in circulation drawn or guaranteed by the company

Maximum amount for which other debts or commitments of third parties are guaranteed by the company

REAL GUARANTEES Real guarantees provided or irrevocably promised by the company on its own assets as security of debts and commitments of the company

Mortgages

Book value of the immovable properties mortgaged Amount of registration

For irrevocable mortgage mandates, the amount for which the agent can take registration

Pledging of goodwill

Maximum amount up to which the debt is secured and which is the subject of registration

For irrevocable mandates to pledge goodwill, the amount for which the agent can take the inscription

Pledging of other assets or irrevocable mandates to pledge other assets

Book value of the immovable properties mortgaged Maximum amount up to which the debt is secured

Guarantees provided or irrevocably promised on future assets Amount of assets in question

Maximum amount up to which the debt is secured Vendor's privilege

Book value of sold goods Amount of the unpaid price

Codes

Period

91612

91622

91632

91712

91722

91812

91822

91912

91922

92012

92022

Real guarantees provided or irrevocably promised by the company on its own assets as security of debts and commitments of third parties

Mortgages

Book value of the immovable properties mortgaged Amount of registration

For irrevocable mortgage mandates, the amount for which the agent can take registration

Pledging of goodwill

Maximum amount up to which the debt is secured and which is the subject of registration

For irrevocable mandates to pledge goodwill, the amount for which the agent can take the inscription

Pledging of other assets or irrevocable mandates to pledge other assets

Book value of the immovable properties mortgaged Maximum amount up to which the debt is secured

Guarantees provided or irrevocably promised on future assets Amount of assets in question

Maximum amount up to which the debt is secured Vendor's privilege

Codes

Period

9213

9214

9215

9216

Book value of sold goods Amount of the unpaid price

GOODS AND VALUES, NOT REFLECTED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN THEIR OWN NAME BUT FOR THE BENEFIT AND AT THE RISK OF THE COMPANY SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS FORWARD TRANSACTIONS Goods purchased (to be received) Goods sold (to be delivered) Currencies purchased (to be received) Currencies sold (to be delivered)

Period

COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

Period

AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS SETTLEMENT REGARDING THE COMPLEMENTARY RETIREMENT OR SURVIVORS' PENSION FOR PERSONNEL AND BOARD MEMBERS Brief description Measures taken to cover the related charges

Code	Period
9220

PENSIONS FUNDED BY THE COMPANY ITSELF Estimated amount of the commitments resulting from past services

Methods of estimation

Period

NATURE AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE not reflected in the balance sheet or income statement

Period

COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR SALE OR PURCHASE

Period

NATURE, COMMERCIAL OBJECTIVE AND FINANCIAL CONSEQUENCES OF TRANSACTIONS NOT REFLECTED IN THE BALANCE SHEET If the risks and benefits resulting from such transactions are of any meaning and if publishing such risks and benefits is necessary to appreciate the financial situation of the company

Period

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET (including those that cannot be calculated)

In connection with the EUR 120m credit facility with Blantyre, the Company, Belysse NV ("CVR Issuer") and certain Blantyre entities ("CVR Beneficiaries") entered into the CVR Agreement. The CVR Agreement provides the CVR Beneficiaries the right to receive a payment from the CVR Issuer upon certain trigger events, including in the event any person or group acquires shares of the Company greater than the shareholding of funds affiliated with Lone Star (LS) in the Company, or in the event shareholding of LS in the Company reduces to 40% or less (collectively, the CoC trigger). The amount of payment (the Applicable Proceeds) is equal to 20% (subject to adjustments) of the portion of the equity value of the business above an equity value threshold of approximately EUR 41.1 million.

The CVR Agreement permits the CVR Issuer to pay the Applicable Proceeds upon a CoC trigger either: (i) in cash (the Cash Payment); or (ii) by transferring the shares of, or causing an issuance (subject to receipt of requisite corporate approvals) of shares by, the Company, of equivalent value (the Discharge Shares). The Company, being the holding company of the CVR Issuer, is a party to the CVR Agreement and has undertaken to facilitate the issuance of shares to the CVR Beneficiaries in the event the CVR Issuer elects to make the payment of Applicable Proceeds through an issuance of Discharge Shares. There is no obligation on part of the CVR Issuer (which is controlled by the Company) to pay the Applicable Proceeds through issuance of Discharge Shares.

RELATIONSHIPS WITH AFFILIATED COMPANIES, ASSOCIATED COMPANIES AND OTHER COMPANIES LINKED BY PARTICIPATING INTERESTS

Codes	Period	Preceding period
(280/1)	260.432.254,00	280.241.000,00
(280)	257.532.254,00	280.241.000,00
9271
9281	2.900.000,00
9291	340.364,35	335.289,60
9301
9311	340.364,35	335.289,60
9321
9331
9341
9351
9361
9371
9381	257.532.254,00	280.241.000,00
9391
9401
9421
9431
9441	68.048,85	105.073,45
9461
9471
9481
9491

AFFILIATED COMPANIES Financial fixed assets

Participating interests Subordinated amounts receivable Other amounts receivable

Amounts receivable Over one year Within one year Current investments

Amounts receivable

Amounts payable Over one year Within one year Personal and real guarantees

Provided or irrevocably promised by the company as security for debts or commitments of affiliated companies

Provided or irrevocably promised by affiliated companies as security for debts or commitments of the company

Other significant financial commitments Financial results

Income from financial fixed assets Income from current assets

Other financial income Debt charges

Other financial charges

Disposal of fixed assets Capital profits realised Capital losses realised RELATIONSHIPS WITH AFFILIATED COMPANIES, ASSOCIATED COMPANIES AND OTHER COMPANIES LINKED BY PARTICIPATING INTERESTS

Codes

Period

Preceding period

9253

9263

9273

9283

9293

9303

9313

9353

9363

9373

9383

9393

9403

9252

9262

9272

9282

9292

9302

9312

9352

9362

9372

ASSOCIATED COMPANIES Financial fixed assets

Participating interests Subordinated amounts receivable Other amounts receivable

Amounts receivable Over one year Within one year Amounts payable Over one year Within one year Personal and real guarantees

Provided or irrevocably promised by the company as security for debts or commitments of affiliated companies

Provided or irrevocably promised by affiliated companies as security for debts or commitments of the company

Other significant financial commitments COMPANIES LINKED BY PARTICIPATING INTERESTS Financial fixed assets

Participating interests Subordinated amounts receivable Other amounts receivable

Amounts receivable Over one year Within one year Amounts payable Over one year Within one year RELATIONSHIPS WITH AFFILIATED COMPANIES, ASSOCIATED COMPANIES AND OTHER COMPANIES LINKED BY PARTICIPATING INTERESTS

Period

TRANSACTIONS WITH AFFILIATED PARTIES BEYOND NORMAL MARKET CONDITIONS Mention of these transactions if they are significant, including the amount of the transactions, the nature of the link, and all information about the transactions that should be necessary to get a better understanding of the financial situation of the company

None

Codes

Period

9500

9501

9502

9503

9504

770.317,00

FINANCIAL RELATIONSHIPS WITH DIRECTORS AND MANAGERS, INDIVIDUALS OR LEGAL PERSONS WHO CONTROL THE COMPANY DIRECTLY OR INDIRECTLY WITHOUT BEING ASSOCIATED THEREWITH, OR OTHER COMPANIES CONTROLLED DIRECTLY OR INDIRECTLY BY THESE PERSONS Amounts receivable from these persons

Principal conditions regarding amounts receivable, rate of interest, duration, any amounts repaid, cancelled or written off

Guarantees provided in their favour Other significant commitments undertaken in their favour Amount of direct and indirect remunerations and pensions, reflected in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person

To directors and managers

To former directors and former managers

Codes	Period
9505	199.300,00
95061	32.750,00
95062
95063
95081
95082	5.930,00
95083

THE AUDITOR(S) AND THE PERSONS WHOM HE (THEY) IS (ARE) COLLABORATING WITH Auditors' fees Fees for exceptional services or special assignments executed within the company by the auditor

Other audit assignments

Tax consultancy assignments

Other assignments beyondthe audit

Fees for exceptional services or special assignments executed within the company by people the auditor(s) is (are collaborating with

Other audit assignments

Tax consultancy assignments

Other assignments beyond the audit

Mentions related to article 3:64, § 2 and § 4 of the Belgian Companies and Associations Code

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