ANNUAL ACCOUNT IN EURO (2 decimals) - · PDF fileANNUAL ACCOUNT approved by the General...

COMPLETE LIST WITH name, first name, profession, residence-address (address, number, postal code, municipality) andposition with the enterprise, OF DIRECTORS, MANAGERS AND AUDITORS

NAME:

Legal form:

Address: Nr.:

Postal Code: City:

Country: Belgium

Register of Legal Persons (RLP) - Office of the commercial court at:

Internet address *:

Company number: 0220.764.971

DATE 30/04/1981 of the deposition of the partnership deed OR of the most recent document mentioning the date ofpublication of the partnership deed and the act changing the articles of association.

ANNUAL ACCOUNT approved by the General Meeting of 24/06/2010

concerning the financial year covering the period from 1/01/2009 31/12/2009till

Previous period from 1/01/2008 31/12/2008till

The amounts of the previous financial year are

INTERGEM

Franz Courtensstraat

9200 Dendermonde

are not ** identical to those which have been previously published.

Nr. C 1.1Date of the deposition No. PP. E. D.40 1 EUR

ANNUAL ACCOUNT IN EURO (2 decimals)

0220.764.971

/

Dendermonde

Bourgetlaan 40, 1130 Brussel 13, Belgium

Title : Auditor, Number of membership : B0001

K.P.M.G CALL 0419.122.548

Represented by:Berger Pierre

, , Belgium

Stationsstraat 16, 9220 Hamme (O.-Vl.), Belgium

Title : President of the board of directors

Van De Casteele Paul

Mezenstraat 11, 9112 Sinaai-Waas, Belgium

Title : Vice president of the board of directors

Nachtegael Mike

Enclosed to these annual accounts:

Total number of pages deposited:

Signature (name and position)

Signature (name and position)

* Optional statement.** Delete where appropriate.

Number of the pages of the standard form not deposited for not beingof service:

405.1, 5.2.3, 5.2.4, 5.3.4, 5.3.6, 5.4.1, 5.4.3, 5.5.2, 5.16, 5.17.1, 5.17.2, 6, 9

MANAGEMENT REPORT

Nr. 0220.764.971 C 1.1

LIST OF DIRECTORS, MANAGERS AND AUDITORS (continuation of the previous page)

Achterdenken 6, box A, 9255 Buggenhout, Belgium

Title : Vice president of the board of directors

Sarens André

Dennenlaan 40, 9120 Melsele, Belgium

Title : Director

Becquaert Alfred

Dijkstraat 140, 9120 Melsele, Belgium

Title : Director

Blommaert Robert

Heideaard 121, 2930 Brasschaat, Belgium

Title : Director

Bosman Eric

Mandate : - 25/06/2009

Kruisweg 6, 1790 Affligem, Belgium

Title : Director

Bosteels Marie-Louise

Joseph Baecklaan 46, box 5, 1080 Brussel 8, Belgium

Title : Director

Boute Veerle

Rozenstraat 17, 9150 Kruibeke, Belgium

Title : Director

Bressinck Saskia

Mandate : 18/03/2010

Leo Bruynincxstraat 18, 9200 Dendermonde, Belgium

Title : Director

Buyse Pieter

Kroonveldlaan 10, 9200 Dendermonde, Belgium

Title : Director

Caudron Pierre

Mandate : 28/05/2009- 13/12/2009

Nr. 0220.764.971 C 1.1


Verhaegenlaan 3, 9500 Geraardsbergen, Belgium

Title : Director

Coppez Davy

Akrenbos 1, 1547 Bever, Belgium

Title : Director

Daubie Patrick

Hooierzelestraat 9, 9250 Waasmunster, Belgium

Title : Director

Decorte Renaat

Mandate : 28/05/2009

Donkerstraat 10, 9111 Belsele, Belgium

Title : Director

De Cuyper Jo

Sergeant De Bruynestraat 27, 2140 Borgerhout (Antwerpen), Belgium

Title : Director

De Groof Christiaan

Oude Gentbaan 100, 9300 Aalst, Belgium

Title : Director

De Koninck Iwein

Strijpenplein 8, 9620 Zottegem, Belgium

Title : Director

De Meulenaere Willy

Zwanenhoekstraat 8, box 5, 9170 Sint-Gillis-Waas, Belgium

Title : Director

De Rudder Willy

Aststraat 36, 9472 Iddergem, Belgium

Title : Director

De Schampheleer Betty

Nr. 0220.764.971 C 1.1


Kloosterlaan 27, 9140 Temse, Belgium

Title : Director

Duvillers Ivan

Hoge Wegel 5, 9120 Beveren-Waas, Belgium

Title : Director

Heirwegh Roger

Otto De Maeyerstraat 10, 9255 Buggenhout, Belgium

Title : Director

Hermans Geert

Mgr. Stillemansstraat 25, 9100 Sint-Niklaas, Belgium

Title : Director

Heynderickx Marc

Konijnenstraat 19, 2870 Puurs, Belgium

Title : Director

Heyvaert Griet

Vondelen 55, 9450 Haaltert, Belgium

Title : Director

Impens Willy

Mandate : 28/05/2009

Cederlaan 2, 9160 Lokeren, Belgium

Title : Director

Libaut Hilaire

Cedronbeekstraat 9, 9190 Stekene, Belgium

Title : Director

Merckx Freddy

Steenweg 57, 9570 Sint-Maria-Lierde, Belgium

Title : Director

Mortier Rudy

Nr. 0220.764.971 C 1.1


Schillebeekstraat 70, 9500 Geraardsbergen, Belgium

Title : Director

Spitaels Eric

Parklaan 1a, box 31, 9300 Aalst, Belgium

Title : Director

Stylemans Johan

J.B. Van Langenhaeckestraat 18, 9400 Ninove, Belgium

Title : Director

Torrekens Marc

Fayte 68, 9660 Brakel, Belgium

Title : Director

Tortelboom Wilfried

Eikestraat 38, 9550 Herzele, Belgium

Title : Director

Van Daele Marcellus

Mandate : - 11/05/2010

Dikkelindestraat 16, 9420 Erpe-Mere, Belgium

Title : Director

Van De Keer Gaston

Mandate : 22/04/2010

Broekveldstraat 13, 9320 Nieuwerkerken (Aalst), Belgium

Title : Director

Van de Steen Ann

Aalstersestraat 79, box 1, 9280 Lebbeke, Belgium

Title : Director

Van Driessche Marleen

Leopoldstraat 173, 9400 Ninove, Belgium

Title : Director

Van Eeckhout Freddy

Nr. 0220.764.971 C 1.1


Bevrijdingslaan 196, 9200 Dendermonde, Belgium

Title : Director

Van Marcke René

Mandate : 18/03/2010

Oudenaardsesteenweg 610, 9420 Erpe-Mere, Belgium

Title : Director

Van Vaerenbergh Johan

Mandate : - 22/04/2010

Nijverheidstraat 59, 9140 Temse, Belgium

Title : Director

Verbeke Freddy

Lange Heihoekstraat 9, 9150 Kruibeke, Belgium

Title : Director

Verhelst Alfons

Mandate : - 18/03/2010

Nr. 0220.764.971 C 1.2

DECLARATION ABOUT SUPPLEMENTARY AUDITING OR ADJUSTMENT MISSION

The managing board declares that the assignment neither regarding auditing nor adjusting has been given to a person who was notauthorised by law pursuant to art. 34 and 37 of the Law of 22nd April 1999 concerning the auditing and tax professions.

Have the annual accounts been audited or adjusted by an external accountant or auditor who is not a statutory auditor ? YES

If YES, mention here after: name, first names, profession, residence-address of each external accountant or auditor, the number ofmembership with the professional Institute ad hoc and the nature of this engagement:

NO *./

If the assignment mentioned either under A or B is performed by authorised accountants or authorised accountants-tax consultants, information will be given on: name, first names, profession and residence-address of each authorised accountant or accountant-tax consultant, his number of membership with the Professional Institute of Accountants and Tax consultants and the nature of this engagement.

A. Bookkeeping of the undertaking**,B. Preparing the annual accounts**,C. Auditing the annual accounts and/orD. Adjusting the annual accounts.

Number ofmembership

Nature of theengagement

(A, B, C and/or D)Name, first name, profession, residence-address

* Delete where appropriate.** Optional disclosure.

Nr. 0220.764.971 C 2.1

Codes Period Previous period

ASSETS

Tangible fixed assets

FIXED ASSETS

Intangible fixed assets

Formation expenses

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 5.4/

Affiliated enterprises

Participating interests

Amounts receivable

Other enterprises linked by participating interests ............

Other financial assets

Shares

Amounts receivable and cash guarantees

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

Current investments

Own shares

Other investments and deposits

Cash at bank and in hand

Deferred charges and accrued income

TOTAL ASSETS

5.2

5.1

5.3

5.5.1

5.14

5.14

5.5.1/ 5.6

5.6

......................................................................

............................................................

........................................................

.........................................................

.........................................................

...............................................................

....................

........................................

....................................

..........................................................

....................................................

...............................

..................................................................

542.649,93

713.688.867,61

15.865.763,14

689.965.088,82

6.797.782,51

1.060.233,14

714.999.210,38

767.692,84

767.692,84

767.692,84

95.651.678,64

2.185.921,30

2.185.921,30

26.494.632,58

26.073.488,10

421.144,48

1.364.222,16

65.606.902,60

810.650.889,02

675.320.186,18

657.761.796,56

15.510.855,79

635.177.270,23

5.902.674,84

1.170.995,70

17.558.389,62

17.558.389,62

17.558.389,62

89.096.411,16

1.466.201,20

1.466.201,20

22.223.117,33

22.047.541,58

175.575,75

1.336.698,97

64.070.393,66

764.416.597,34

20/28

20

21

22/27

22

23

24

25

26

28

27

280/1

280

281

282/3

282

283

284/8

284

285/8

29/58

29

290

291

3

30/36

30/31

32

33

34

35

36

37

40/41

40

41

50/53

50

51/53

54/58

490/1

20/58

Notes

.........................................................

.................................................

....................................................

Participating interests

Amounts receivable

.................................................

....................................................

......................................................

.......................................................................

.................

..................................................................

...............................................

..............................................................................

...............................

........................................................

..........................................................

......................................

....................................................

........................................................

Trade debtors

Other amounts receivable

..................................................................

...............................................

......................................................................

......................................

BALANCE SHEET

Toel.

Nr. 0220.764.971 C 2.2

Codes Period Previous periodEQUITY AND LIABILITIES

Reserves

EQUITY

Share premium account

CapitalIssued capitalUncalled capital

Legal reserveReserves not available

In respect of own shares heldOther

Accumulated profits (losses)

Major repairs and maintenance

Pensions and similar obligations

Taxation

Deferred taxes

Other liabilities and charges

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

Advances received on contracts in progress

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

Taxes

Accrued charges and deferred income

TOTAL LIABILITIES

5.7

.................................................................................

..................................................................................

......................................................

.................................................................................

......................................(+)/(-)

......................................................................

........................

Untaxed reserves

Available reserves

Investment grants

Advance to associates on the sharing out of the assets

...............................................................

..................................................................

PROVISIONS AND DEFERRED TAXES ...............................

Provisions for liabilities and charges ................................

..........................................................

Bills of exchange payable

Remuneration and social security

5.9

5.8

5.9

Other amounts payable

Amounts payable within one year ........................................

Advances received on contracts in progress

Taxes, remuneration and social security

215.676.465,43215.676.465,43

13.164.523,366.485.071,04

10/15

10100101111213

130131

13111310

132

14

15

19

16

160/5

160

161

162

163/5

Revaluation surpluses ........................................................

133

168

17/49

17

170/4

170

171

172

173

174

175

1750

1751

176

178/9

42/48

42

43

430/8

439

44

440/4

441

46

455.9

...............................

.........................................................

450/3

454/9

47/48

492/3

10/49

4.207.632,23

4.207.632,23

4.207.632,23

418.860.854,33

305.697.012,99

305.697.012,99

296.940.292,99

8.756.720,00

110.944.095,85

8.741.463,39

79.443.234,04

79.443.234,04

12.276.199,90

12.276.199,90

5.211.408,34

1.855.883,74

1.855.804,47

79,27

3.415.906,44

2.219.745,49

810.650.889,02 764.416.597,34

378.306.447,87

210.436.063,32210.436.063,32

7.733.578,21134.623.354,34

23.324.194,41

22.806,8010.673.992,92

10.673.992,92

12.627.394,692.189.257,59

4.507.470,93

4.507.470,93

4.507.470,93

381.602.678,54

253.286.073,44

253.286.073,44

253.286.073,44

127.566.334,01

4.975.157,72

98.805.451,80

98.805.451,80

14.724.928,29

14.724.928,29

3.953.787,45

1.904.961,12

1.883.244,91

21.716,21

3.202.047,63

750.271,09

387.582.402,46

136.373.508,9229.047.357,07

34.870,6915.847.963,02

15.847.963,02

Notes

..................................................................................................................................

...................................................................

.......................................................................................

.........................................................................

.............................................................

............................................................

......................................

...........................................................................

.........................................

...............................................

.................................................................

....................................................

........................................

..........................

........................................................

...............................................................

.......................................................................

...................................................................

...........................................

....................

....................................................

Financial debts .................................................................

Credit institutions

Other loans

........................................................

...............................................................

Trade debts

Suppliers

Bills of exchange payable

.......................................................................

...................................................................

...........................................

Other amounts payable ....................................................

..............................

........................................................................

..........................

...................

5.9..........................................

Nr. 0220.764.971 C 3

INCOME STATEMENTCodes Period Previous period

Operating charges

Operating income

Turnover ...........................................................................

Own construction capitalised

Other operating income

Raw materials, consumables

Purchases

Decrease (increase) in stocks ............................(+)/(-)

Services and other goods

Remuneration, social security costs and pensions ....(+)/(-)

Amounts written down stocks, contracts in progress and trade debtors - Appropriations (write-backs) .............(+)/(-)

Other operating charges

Operation charges carried to assets as restructuringcosts ............................................................................. (-)

Operating profit (loss)

Income from financial fixed assets

Income from current assets

Financial income

Debt charges

Amounts written down on current assets except stocks, contracts in progress and trade debtors .............................................................(+)/(-)

Other financial charges

Gain (loss) on ordinary activities before taxes

5.10

.................................................................

........ (+)/(-)

Increase (decrease) in stocks offinished goods, work and contracts in progress .........(+)/(-)

5.10

Depreciation of and amounts written off formationexpenses, intangible and tangible fixed assets ...................

5.10

Provisions for risks and charges - Appropriations (uses and write-backs) ........................................................(+)/(-) 5.10

5.10

.................................................(+)/(-)

...................................................................

Other financial income 5.11

Financial charges 5.11

178.436.738,88

170.169.730,74

719.720,10

7.547.288,04

137.449.002,90

44.920.748,87

44.920.748,87

61.648.291,70

26.287.506,37

686.320,17

-299.838,70

4.205.974,49

40.987.735,98

49.650,44

662,87

48.987,57

13.548.414,50

17.167,43

27.488.971,92

13.531.247,07

166.794.006,78

158.829.566,76

-12.380,70

7.976.820,72

127.731.527,48

38.465.985,97

38.465.985,97

61.595.237,35

24.016.807,40

-467.721,14

-220.185,47

4.341.403,37

39.062.479,30

1.037.426,14

979.223,17

10.622,28

47.580,69

13.587.102,78

13.576.932,83

10.169,95

26.512.802,66

70/74

70

630

62

71

72

74

60/64

60

600/8

609

61

631/4

635/7

640/8

649

9901

75

750

751

752/9

65

650

651

652/9

9902

Notes

..........................................

.....................................................

.......................................................

....................................................................

.......................................................

..............................................

....................................

....................................................

..................................................

..................................................................

..............................................

...............................................................

..................................................................

Nr. 0220.764.971 C 3


Write-back of depreciation and of amounts written downintangible and tangible fixed assets

Other extraordinary income

Extraordinary depreciation of and extraordinary amountswritten off formation expenses, intangible and tangiblefixed assets

Extraordinary charges carried to assets as restructuringcosts ............................................................................(-)

Amounts written down financial fixed assets

Loss on disposal of fixed assets

Other extraordinary charges

Income taxes

Adjustment of income taxes and write-back of taxprovisions

Provisions for extraordinary liabilities and charges -Appropriations (uses) ..............................................(+)/(-)

5.11

Write-back of amounts written down financial fixed assets

Write-back of provisions for extraordinary liabilities andcharges Gains on disposal of fixed assets

5.12

14.749,92

14.749,92

27.474.222,00

446.509,45

447.668,49

1.159,04

27.027.712,55

27.027.712,55

111.206,71

111.206,71

26.401.595,95

630.961,60

630.961,60

25.770.634,35

25.770.634,35

76

760

664/8

663

762

763

764/9

66

660

661

662

761

669

9905

689

780

680

67/77

670/3

77

9904

789

9903

Extraordinary income ............................................................

Extraordinary charges ...........................................................

Profit (loss) for the period before taxes ......................(+)/(-)

Transfer from postponed taxes ...........................................

Transfer to postponed taxes .................................................

Income taxes ...........................................................................

Profit (loss) for the period .............................................(+)/(-)

Transfer from untaxed reserves ............................................

Transfer to untaxed reserves .................................................

Profit (loss) for the period available for appropriation (+)/(-)

....................................................................

...........................................................................

.............................................

......................................

....................

.......................................................................

...............................................

.....................................

............................................................................

.

...................................

Nr. 0220.764.971 C 4


from capital and share premium account

from reserves

29.334.861,21

27.027.712,55

2.307.148,66

10.900,00

10.900,00

6.485.071,04

22.860.690,17

22.860.690,17

28.908.372,56

25.770.634,35

3.137.738,21

2.462.000,00

2.462.000,00

2.189.257,59

24.257.114,97

24.257.114,97

9906

(9905)

14P

791/2

791

792

691/2

6921

(14)

794

6920

694

696

695

694/6

691

APPROPRIATION ACCOUNT

Gain (loss) to be appropriated

.........................................................(+)/(-)Profit (loss) to be appropriated

Profit (loss) to be carried forward

Transfers from capital and reserves ..........................................................

...............................................

.........................................................................................

to capital and share premium account .....................................................

to the legal reserve ..................................................................................

Transfers to capital and reserves ..............................................................

to other reserves .....................................................................................

Profit (loss) to be carried forward .....................................................(+)/(-)

Owner's contribution in respect of losses ..............................................

Other beneficiaries ..................................................................................

Dividends ..................................................................................................

Director's or manager's entitlements .........................................................

Profit to be distributed ...............................................................................

.......................................................(+)/(-)

...................................................(+)/(-)

Nr. 0220.764.971 C 5.2.1


RESEARCH AND DEVELOPMENT COSTS

xxxxxxxxxxxxxxx

xxxxxxxxxxxxxxx

STATEMENT OF INTANGIBLE FIXED ASSETS

678.312,40

678.312,40

135.662,47

135.662,47

542.649,93

8031

8041

8051

8121P

8071

8051P

8021

8091

8101

8081

8121

210

8111

Acquisitions, including produced fixed assets .......................................

Acquisition value at the end of the period

Movements during the period

Transfers from one heading to another ....................................... (+)/(-)

Sales and disposals ..............................................................................

..............................................

Acquisition value at the end of the period ..............................................

Recorded ..............................................................................................

Depreciation and amounts written down at the end of the period .......

Written back ........................................................................................

Acquisitions from third parties ..............................................................

Cancelled owing to sales and disposals ................................................

Depreciation and amounts written down at the end of the period .........

NET BOOK VALUE AT THE END OF THE PERIOD ..................................



Nr. 0220.764.971 C 5.2.2


CONCESSIONS, PATENTS, LICENCES, KNOWHOW, BRANDS AND SIMILAR RIGHTS

xxxxxxxxxxxxxxx

xxxxxxxxxxxxxxx

2.089.957,91

2.089.957,91

85.617,03

418.007,31

1.757.567,63

85.617,03

418.007,31

1.757.567,63

8032

8042

8052

8122P

8072

8052P

8022

8092

8102

8082

8122

211

8112






..............................................

Acquisition value at the end of the period ..............................................

Recorded ..............................................................................................

Depreciation and amounts written down at the end of the period .......


Depreciation and amounts written down at the end of the period .........




Written back ........................................................................................


Nr. 0220.764.971 C 5.3.1




STATEMENT OF TANGIBLE FIXED ASSETS

.............................................. xxxxxxxxxxxxxxx

..............................................

Depreciation and amounts written down at the end of the period

.....................................

Cancelled ..............................................................................................

.......

xxxxxxxxxxxxxxx

LAND AND BUILDINGS

Revaluation surpluses at the end of the period


Revaluation surpluses at the end of the period .....................................

xxxxxxxxxxxxxxx

.......

16.992.063,20

2.885.924,32

774.543,49

478,97

17.766.127,72

8.266,75

-75.850,35

2.818.340,72

321.173,09

106.250,83

-75.850,35

4.718.705,30

15.865.763,14

4.367.131,73

8171

8181

8191

8251P

8211

8191P

8161

8231

8241

8221

8321P

8271

8251

8281

8301

8311

8291

8321

(22)


Recorded ..............................................................................................

Transfers from one heading to another ........................................(+)/(-)





Recorded ..............................................................................................





Written back ........................................................................................



Nr. 0220.764.971 C 5.3.2


xxxxxxxxxxxxxxx

xxxxxxxxxxxxxxx

PLANT, MACHINERY AND EQUIPMENT

xxxxxxxxxxxxxxx

770.608.204,72

91.337.379,74

9.802.437,63

852.143.146,83

274.786.805,99

15.519.285,67

-4.584.943,86

285.721.147,80

23.502.971,99

25.438.857,37

6.675.420,17

-4.584.943,86

447.899.205,81

689.965.088,82

410.217.740,48

8172

8182

8192

8252P

8212

8192P

8162

8232

8242

8222

8322P

8272

8252

8282

8302

8312

8292

8322

(23)



..............................................

..............................................


.....................................

Cancelled ..............................................................................................

.......




.......


Recorded ..............................................................................................






Recorded ..............................................................................................





Written back ........................................................................................



Nr. 0220.764.971 C 5.3.3


xxxxxxxxxxxxxxx

xxxxxxxxxxxxxxx

FURNITURE AND VEHICLES

xxxxxxxxxxxxxxx

25.295.783,56

273.205,81

3.506.448,07

1.072.391,31

451,97

-5.701,20

267.956,58

2.150.993,30

19.666.314,53

451.249,72

1.062.841,96

-5.701,20

21.200.014,39

6.797.782,51

8173

8183

8193

8253P

8213

8193P

8163

8233

8243

8223

8323P

8273

8253

8283

8303

8313

8293

8323

(24)

27.729.840,32



..............................................

..............................................


.....................................

Cancelled ..............................................................................................

.......




.......


Recorded ..............................................................................................






Recorded ..............................................................................................





Written back ........................................................................................



Nr. 0220.764.971 C 5.3.5


xxxxxxxxxxxxxxx

xxxxxxxxxxxxxxx

OTHER TANGIBLE FIXED ASSETS

xxxxxxxxxxxxxxx

1.672.851,00

94.204,23

1.767.055,23

501.855,30

176.705,52

28.261,27

706.822,09

1.060.233,14

8175

8185

8195

8255P

8215

8195P

8165

8235

8245

8225

8325P

8275

8255

8285

8305

8315

8295

8325

(26)



..............................................

..............................................


.....................................

Cancelled ..............................................................................................

.......




.......


Recorded ..............................................................................................






Recorded ..............................................................................................





Written back ........................................................................................



Nr. 0220.764.971 C 5.4.2


xxxxxxxxxxxxxxx

xxxxxxxxxxxxxxx

OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS -PARTICIPATING INTERESTS AND SHARES

xxxxxxxxxxxxxxx

xxxxxxxxxxxxxxx

xxxxxxxxxxxxxxx

17.558.389,62

34.563,39

16.825.260,17

767.692,84

767.692,84

8372

8382

8392

8452P

8412

8392P

8362

8432

8442

8422

8522P

8472

8452

8482

8502

8512

8492

8522

8552P

8542

8582

8602

8612

8592

8622

8632

8552

(282)

283P

(283)

8652

Amounts written down et the end of the period .....................................

.....................................

Uncalled amounts at the end of the period .............................................

Movements during the period .........................................................(+)/(-)


Additions ...............................................................................................

Repayments ..........................................................................................

Amounts written down ...........................................................................

Amounts written back ............................................................................

Exchange differences ..................................................................(+)/(-)

Other ...........................................................................................(+)/(-)

ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTSRECEIVABLE AT THE END OF THE PERIOD ............................................



Cancelled ..............................................................................................




Recorded ..............................................................................................






..............................................



Recorded ..............................................................................................


Amounts written down at the end of the period

Uncalled amounts at the end of the period .............................................




OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS -AMOUNTS RECEIVABLE

..............................................

.....................................

Written back ........................................................................................



Nr. 0220.764.971 C 5.5.1

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

INFORMATION RELATING TO THE SHARE IN THE CAPITAL

List of both enterprises in wich the enterprise holds a participating interest (recorded in the heading 28 of assets)and other enterprises in which the enterprise holds rights (recorded in the headings 28 and 50/53 of assets)in the amount of at least 10% of the capital issued.

NAME, full address of the REGISTEREDOFFICE and for the enterprise governed by

Belgian law, the COMPANY NUMBER

Shares held by

directly subsi-diaries

Number % %

Information from the most recent period forwhich annual accounts are available

Primaryfinancial

statement

Mone-taryunit

Capital and reserves Net result

(+) or (-)(in monetary units)

Eandis CVBA CALL 31/12/2008 EURBrusselsesteenweg 199 9090 MelleBelgium0477.445.084

20.405 0

38139 10,95 0,00

Nr. 0220.764.971 C 5.6

OTHER INVESTMENTS AND DEPOSIT, DEFFERED CHARGES AND ACCRUED INCOME (ASSETS)


Book value increased with the uncalled amount ....................................................

Falling due

Shares

Fixed income securities

Fixed income securities issued by credit institutions .............................................

INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS

Uncalled amount ...................................................................................................

Fixed term deposit with credit institutions

less or up to one month ..................................................................................

over one year ..................................................................................................

between one month and one year ...................................................................

Other investments not yet shown seperately

8681

8682

52

8684

51

53

8686

8687

8688

8689

.......................................................................................................................

............................................................................................

.............................................................

.........................................................

Allocation of heading 490/1 of assets if the amount is significant.

DEFFERED CHARGES AND ACCRUED INCOME

Period

Deferred charges 31.203.531,01

Accrued income 34.403.371,59

Nr. 0220.764.971 C. 5.7

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

STATEMENT OF CAPITAL

Social capital100P

(100)

XXXXXXXXXXXXXX 210.436.063,32

215.676.465,43


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

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

Codes Amounts Number of shares

Changes during the period:

5.240.402,11 178.838issuance of E-shares

Structure of the capitalDifferent categories of shares

130.853.554,00 4.608.136Shares Ae

79.582.509,32 2.593.434Shares Ag

3.068.408,43 108.057Shares Ee

2.171.993,68 70.781Shares Eg

8702

8703

XXXXXXXXXXXXXX 7.380.408

XXXXXXXXXXXXXX

Registered shares..................................................................................................

Bearer shares and/or dematerialized shares..........................................................

Capital not paid

CodesUncalledcapital

Capital called,but not paid

(101)

8712

XXXXXXXXXXXXXX

XXXXXXXXXXXXXX

Uncalled capital .......................................................................................

Capital called, but not paid ......................................................................

Shareholders having yet to pay up in full

Nr. 0220.764.971 C. 5.7

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

PeriodCodes

8722

8731

8732

8721

8741

8740

8742

8746

8745

8747

8751

OWN SHARES

Held by the company itself

Amount of capital held

Number of shares held

Held by the subsidiaries

Amount of capital held


Commitments to issue shares

Following the exercising of CONVERSION RIGHTS

Amount of outstanding convertible loans

Amount of capital to be subscribed

Corresponding maximum number of shares to be issued

Following the exercising of SUBSCRIPTION RIGHTS

Number of outstanding subscription rights

Amount of capital to be subscribed

Corresponding maximum number of shares to be issued

Authorized capital, not issued

......................................................................................................................

......................................................................................................................

......................................................................................................................

......................................................................................................................

........................................................................................

.................................................................................................

..............................................................

.....................................................................................

.................................................................................................

...............................................................

.................................................................................................................

PeriodCodes

8762

8771

8781

8761 48

Shared issued, not representing capital

Distribution


Number of voting rights attached thereto

Allocation by shareholder

Number of shares held by the company itself

Number of shares held by its subsidairies

..................................................................................................................

........................................................................................

................................................................................

.....................................................................................

Nr. 0220.764.971 C 5.8

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

Period

ALLOCATION OF THE HEADING 163/5 OF LIABILITIES IF THE AMOUNT IS CONSIDERABLE

Electricity 1.223.624,67

Gas 2.984.007,56

Nr. 0220.764.971 C 5.9

Codes Period

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERREDINCOME

Leasing and other similar obligations ..................................................................................................

Advance payments received on contracts in progress ...............................................................................

Other loans .........................................................................................................................................

Suppliers .............................................................................................................................................

Bills of exchange payable ....................................................................................................................

Total amounts payable after more than one year, not more than one year

Trade debts ...............................................................................................................................................

Amounts payable after more than one year, between one and five years

Financial debts ..........................................................................................................................................

Subordinated loans .............................................................................................................................

Unsubordinated debentures ................................................................................................................

...............................................

Total amounts payable after more than one year, between one and five years

Amounts payable after more than one year, over five years

ANALYSIS BY CURRENT PORTIONS OF AMOUNTS INITIALLY PAYABLE AFTER MORETHAN ONE YEAR

Amounts payable after more than one year, not more than one year

Credit institutions ................................................................................................................................

Other amounts payable .............................................................................................................................

.......................................

Total amounts payable after more than one year, over five years .............................................................

8.741.463,39

8.741.463,39

8.741.463,39

113.169.539,98

104.412.819,98

8.756.720,00

113.169.539,98

192.527.473,01

192.527.473,01

192.527.473,01

8811

8821

8831

8841

8801

8851

8861

8871

8881

8891

(42)

8901

8802

8812

8822

8832

8842

8852

8862

8872

8882

8892

8902

8912

8803

8813

8823

8833

8843

8853

8863

8873

8883

8893

8903

8913



Other loans .........................................................................................................................................

Suppliers .............................................................................................................................................


Trade debts ...............................................................................................................................................

Financial debts ..........................................................................................................................................







Other loans .........................................................................................................................................

Suppliers .............................................................................................................................................


Trade debts ...............................................................................................................................................

Financial debts ..........................................................................................................................................





Nr. 0220.764.971 C 5.9

Codes Period

Total amounts payable guaranteed by Belgian public authorities

Amounts payable guaranteed by real guarantees given or irrevocably promised by theenterprise on its own assets

.............................................................

Taxes

AMOUNTS PAYABLE GUARANTEED

Amounts payable guaranteed by Belgian public authorities

(headings 17 and 42/48 of liabilities)

Remuneration and social security ..............................................................................................................

Total amounts payable guaranteed by real guarantees given or irrevocably promised by theenterprise on its own assets...........................................................................................................................

AMOUNTS PAYABLE FOR TAXES, REMUNERATION AND SOCIAL SECURITY

(heading 450/3 of the liabilities)

Expired taxes payable .............................................................................................................................

Non expired taxes payable ........................................................................................................................

Estimated taxes payable ...........................................................................................................................

Remuneration and social security (heading 454/9 of the liabilities)

due to the National Office of Social Security ...............................................................................

Other amounts payable relating to remuneration and social security .........................................................

1.786.102,45

69.702,02

79,27

8931

8941

8951

8961

8921

8971

8981

8991

9001

9011

9051

9021

9061

8922

8932

8942

8952

8962

8972

8982

8992

9002

9022

9062

9012

9072

9073

450

9076

9077

9052

Taxes ..................................................................................................................................................

Remuneration and social security ....................................................................................................... 9042

9032




Other loans .........................................................................................................................................

Suppliers .............................................................................................................................................


Trade debts ...............................................................................................................................................

Financial debts ..........................................................................................................................................





Taxes, remuneration and social security ...................................................................................................



Other loans .........................................................................................................................................

Suppliers .............................................................................................................................................


Trade debts ...............................................................................................................................................

Financial debts ..........................................................................................................................................




Amount

Nr. 0220.764.971 C 5.9

Allocation of the heading 492/3 of liabilities if the amount is considerable

ACCRUED CHARGES AND DEFERRED INCOMEPeriod

Accrued charges 1.848.588,10

Deferred Income 371.157,39

Nr. 0220.764.971 C 5.10

OPERATING RESULTSCodes Period Previous period

OPERATING INCOMENet turnover

Broken down by categories of activity

Allocation into geographical markets

Total amount of subsidies and compensatory amounts obtained from publicauthorities ............................................................................................................ 740

Other operating income

OPERATING COSTS

9087

9086

9088

Employees recorded in the personnel register

Total number at the closing date ...........................................................................

Average number of employees calculated in full-time equivalents .........................

Number of actual worked hours .............................................................................

620

621

622

623

624

Remuneration and direct social benefits ...............................................................

Employers' social security contributions ................................................................

Personnel costs

Employers' premiums for extra statutory insurances .............................................

Other personnel costs ...........................................................................................

Old-age and widows' pensions ..............................................................................

Additions (uses and write-back) ................................................................. (+)/(-)

Stocks and contracts in progress

Provisions for pensions

Recorded .......................................................................................................

Written back ..................................................................................................

Amounts written off

Trade debtors

1.050.363,011.022.526,43

336.206,26 1.518.084,15

635

9110

9111

9112

9113

Recorded .......................................................................................................

Written back ..................................................................................................

Other charges ......................................................................................................

Provisions for risks and charges

Additions ..............................................................................................................

Uses and write-back ............................................................................................

Other operating charges

Taxes related to operation ...................................................................................

299.838,70 220.185,47

210.174,70

3.995.799,79

568.187,51

3.773.215,86

9115

9116

640

641/8

Hired temporary staff and persons placed at the enterprise's disposal

Charges to the enterprise ....................................................................................

9096

9097

9098

617

Total number at the closing date ..........................................................................

Average number calculated as full-time equivalents ............................................

Number of actual worked hours ...........................................................................

Nr. 0220.764.971 C 5.11

FINANCIAL AND EXTRAORDINARY RESULTS

Codes Period Previous periodFINANCIAL RESULTSOther financial income

Amount of subsidies granted by public authorities, credited to income for theperiod

Capital subsidies ...........................................................................................

Interest subsidies .......................................................................................... 9126

9125

Allocation of other financial income

Financial discount on cash payments 48.978,55 47.566,32

Divers 9,02 14,37Amounts written down off loan issue expenses and repayment premiums

Value adjustments to current assets

Amount of the discount borne by the enterprise, as a result of negotiatingamounts receivable ..............................................................................................

Appropriations ......................................................................................................

Uses and write-backs ...........................................................................................

Provisions of a financial nature

Other financial charges

Appropriations ......................................................................................................

Write-backs .........................................................................................................

Interests recorded as assets 6503

6501

6511

6510

6561

6560

653

.......

..................................................................................

PeriodEXTRAORDINARY RESULTS

Allocation other extraordinary income

Allocation other extraordinary charges

Bonus/malus 2008 electricity activities 10.890,49

Bonus/malus 2008 gas activities 3.859,43

Nr. 0220.764.971 C 5.12

INCOME TAXES AND OTHER TAXES

PeriodCodes

INCOME TAXEIncome taxes on the result of the current period

Income taxes paid and withholding taxes due or paid ...............................................................................

Income taxes on previous periods

Taxes and withholding taxes due or paid ...................................................................................................

Excess of income tax prepayments and withholding taxes recorded under assets ....................................

Estimated additional taxes ........................................................................................................................

Estimated additional taxes estimated or provided for ................................................................................

447.668,49

400.505,96

47.162,53

9135

9134

9137

9136

9139

9138

9140

In so far as income taxes of the current period are materially affected by differences between theprofit before taxes, as stated in the annual accounts, and the estimated taxable profit

An indication of the effect of extraordinary results on the amount of income taxes relating to thecurrent period

PeriodCodes

Status of deferred taxes

Deferred taxes representing assets ...........................................................................................................

Accumulated tax losses deductible from future taxable profits ............................................................ 9142

9141

Other deferred taxes representing assets

9144Deferred taxes representing liabilities ........................................................................................................

Allocation of deferred taxes representing liabilities

Codes Period Previous Period

THE TOTAL AMOUNT OF VALUE ADDED TAX AND TAXES BORNE BY THIRDPARTIES

The total amount of value added tax charged

To the enterprise (deductible) ..............................................................................

By the enterprise ..................................................................................................

Amounts retained on behalf of third parties for

Payroll withholding taxes ......................................................................................

Withholding taxes on investment income .............................................................

42.184.153,49

58.805.573,58

37.793.877,26

52.415.750,75

26.785,39

1.706.046,67 2.642.018,04

28.821,43

9146

9145

9148

9147

Nr. 0220.764.971 C 5.13

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

Code Period

Bills of exchange in circulation drawn or guaranteed by the enterprise ......................................................

Maximum amount for which other debts or commitments of third parties are guaranteed by theenterprise ..................................................................................................................................................

819.028,00

9150

9149

9153

9151

9161

9191

9171

9201

9181

9162

9172

9192

9182

9202

PERSONAL GUARANTEES GIVEN OR IRREVOCABLY PROMISED BY THE ENTERPRISEAS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES

Of which

Bills of exchange in circulation endorsed by the enterprise .......................................................................

......................................

Real guarantees given or irrevocably promised by the enterprise on its own assets as a security ofdebts and commitments from the enterprise

Amount of registration ..........................................................................................................................

Real guarantees given or irrevocably promised by the enterprise on its own assets as asecurity of debts and commitments from third parties

Mortgages

Book value of the immovable proporties mortgaged .............................................................................

REAL GUARANTEES

Pledging on goodwill - amount of registration .............................................................................................

Pledging of other assets - Book value of other assets pledged

Guarantees provided on future assets - Amount of assets involved

Mortgages

Book value of the immovable proporties mortgaged .............................................................................

Amount of registration ..........................................................................................................................

.................................................................

Pledging on goodwill - amount of registration .............................................................................................

Pledging of other assets - Book value of other assets pledged .................................................................

..........................................................

Guarantees provided on future assets - Amount of assets involved ..........................................................

GOODS AND VALUES, NOT DISCLOSED IN THE BALANCE SHEET, HELD BY THIRDPARTIES IN THEIR OWN NAME BUT AT RISK TO AND FOR THE BENEFIT OF THEENTERPRISE

Recharges of budget meters - payments to be received 12.329,73

SUBSTANCIAL COMMITMENTS TO ACQUIRE FIXED ASSETS

Purchase commitments (cabin) 45.665,00

SUBSTANCIAL COMMITMENTS TO DISPOSE FIXED ASSETS

Sale of site 1.070.000,00

FORWARD TRANSACTIONSGoods purchased (to be received)

Goods sold (to be delivered)

Currencies sold (to be delivered)

Currencies purchased (to be received)

9213

9216

9214

9215

................................................................................................................

.........................................................................................................................

........................................................................................................

..................................................................................................................

INFORMATION RELATING TO TECHNICAL GUARANTEES, IN RESPECT OF SALES OR SERVICES

INFORMATION CONCERNING IMPORTANT LITIGATION AND OTHER COMMITMENTS NOT MENTIONED ABOVEPart of the ongoing projects (unbundling programmes, low/high calorific gas, portfolio, smart meters/grids and clearing house) chargeable toIntergem: 7.012.173,51.In the framework of the Multicurrency Treasury Bill Programme to finance the working capital and the investments of the mission chargedassociations, Intergem has given a mandate to Eandis CVBA to conclude with Dexia Bank België nv on the issuance of a Commercial Paperof Eandis , for the account of the various Distribution System Operators, amounting to 522.000.000,00 EUR. All mixed Distribution SystemOperators jointly guarantee vis à vis each holder of a commercial paper issued by Eandis, to repay at first demand each amount related to

Nr. 0220.764.971 C 5.13

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

INFORMATION CONCERNING IMPORTANT LITIGATION AND OTHER COMMITMENTS NOT MENTIONED ABOVEeach commercial paper and to the global maximum amount of the commercial paper of 522.000.000,00 EUR.The off-balance sheet rights and commitments mention the actualized value (44.042.700,00 EUR) of future obligations to the Eandis staff(concerning pension, reimbursement of healthcare costs, tariff benefits, jubilee bonuses). A bank guarantee has been offered in favour of OVAM amounting to 2.091.124,00 EUR as assurance for the accomplishment of soilanalysis and/or rehabilitation.A bank guarantee has been offered in favour of the CREG amounting to 1.500,00 EUR to cover for the charges of the federal contributioncredited by Intergem to their social customers.In the framework of the short term Credit Programme in the form of a revolving credit amounting to 500.000.000,00 EUR, of which210.000.000,00 EUR was taken up by the end of 2009, by Eandis CVBA to finance the working capital and the investments of the missioncharged associations (Distribution System Operators), each Distribution System Operator acts for its share but vis à vis third parties theDistribution System Operators are jointly responsible. The Distribution System Operators are severally responsible vis à vis each other for thepayment commitments to this mandate.

IF THEREIS A SUPPLEMENTARY RETIREMENTS OR SURVIVOR'S PENSION PLAN IN FAVOUR OF THE PERSONNELOR THE EXECUTIVES OF THE ENTERPRISE, A BRIEF DESCRIPTION OF SUCH PLAN OF THE MEASURES TAKEN BYTHE ENTERPRISE TO COVER THE RESULTING CHARGES

PENSIONS FUNDED BY THE ENTERPRISE

Estimated amount of the commitments resulting for the enterprise from past services

PeriodCode

9220.........................

Methods of estimation

NATURE AND BUSINESS PURPOSE OF OFF-BALANCE SHEET ARRANGEMENTS

Provided the risks or benefits arising from such arrangements are material and where the disclosure of such risks or benefits isnecessary for assessing the financial position of the company; if required, the financial impact of these arrangements have to bementioned too:

Nr. 0220.764.971 C 5.14

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATINGINTERESTS

Codes Period Previous periodAFFILIATED ENTERPRISES

Investments ............................................................................................................

ENTERPRISES LINKED BY PARTICIPATING INTERESTS

Provided or irrevocably promised by affiliated enterprises as security for debts orcommitments of the enterprise ...............................................................................

Amounts receivable subordinated ...........................................................................

................................................................................................Financial fixed assets

Other amounts receivable ......................................................................................

Amounts receivable ....................................................................................................

After one year .........................................................................................................

Within one year ........................................................................................................

Current investments

Shares ....................................................................................................................

..................................................................................................

Amounts receivable ................................................................................................

Amounts payable .......................................................................................................

Personal and real guarantees

Provided or irrevocably promised by the enterprise, as security for debts orcommitments of affiliated enterprises .....................................................................

Other substancial financial commitments ................................................................

Financial results

Income from financial fixed assets .........................................................................

Income from current assets ...................................................................................

Other financial income ...........................................................................................

Debts charges .......................................................................................................

Other financial charges ..........................................................................................

767.692,84

81.621.324,34

81.621.324,34

17.558.389,62

103.983.361,47

103.983.361,47

767.692,84 17.558.389,62

Gains and losses on disposal of fixed assets

Obtained capital gains

Obtained capital losses

...........................................................................................

..........................................................................................

(280/1)

(280)

9271

9281

9291

9301

9311

9321

9331

9351

9341

9361

9371

9381

9391

9401

9421

9431

9441

9461

9471

9481

9491

9362

9372

(282)

9272

9282

9292

9302

9352

(282/3)

9312

After one year .........................................................................................................

Within one year ......................................................................................................

Investments ............................................................................................................

Amounts receivable subordinated ...........................................................................

Financial fixed assets

Other amounts receivable ......................................................................................

Amounts receivable

After one year .........................................................................................................

Within one year ........................................................................................................

Amounts payable

After one year .........................................................................................................

Within one year ......................................................................................................

................................................................................................

...................................................................................................

.......................................................................................................

Nr. 0220.764.971 C 5.14

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATINGINTERESTS

Period

TRANSACTIONS WITH RELATED PARTIES OUTSIDE NORMAL MARKET CONDITIONS

Mention of such operations if they are material, stating the amount of these transactions, the nature of therelationship with the related party and other information about the transactions necessary for theunderstanding of the financial position of the company:

See C 10

Nr. 0220.764.971 C 5.15

FINANCIAL RELATIONSHIPS WITH

DIRECTORS AND MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROLTHE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISESCONTROLLED BY THESE PERSONS, OTHER ENTERPRISES CONTROLLED BY THE SUBB. MENTIONED PERSONS WITHOUT BEING ASSOCIATED THEREWITH

PeriodCodes

Amounts receivable from these persons 9500

Conditions on amounts receivable

Guarantees provided in their favour 9501

Guarantees provided in their favour - Main condition

Other significant commitments undertaken in their favour 9502

Other significant commitments undertaken in their favour - Main condition

Amount of direct and indirect remunerations and pensions, included in the income statement, as longas 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 ...............................................................................................

74.321,47

9504

9503

Codes Period

AUDITORS OR PEOPLE THEY ARE LINKED TO

Auditor's fees

Fees for exceptional services or special missions executed in the company by the auditor

Other attestation missions

Tax consultancy

Other missions external to the audit

1.638,90

725,00

9505

95061

95062

95063

...............................................................................................................................................

.......................................................................................................................

.......................................................................................................................................

.........................................................................................................

Fees for exceptional services or special missions executed in the company by people they are linked to

95081

95082

95083

Other attestation missions

Tax consultancy

Other missions external to the audit

.......................................................................................................................

.......................................................................................................................................

.........................................................................................................

Mention related to article 133 paragraph 6 from the Companies Code

Nr. 0220.764.971 C 7

VALUATION RULESSUMMARY OF MAJOR VALUATION POLICIES 1.�Off-balance sheet rights and commitments Bank guarantees offered by certain energy companies, as well as the DSO's portion in the actualized value of future obligations to theEandis staff are recognized in the out of balance items. Also the obligations relating to ongoing projects have been recognized. On the CREG's demand, a guarantee was offered relating topayments for the federal contribution and the charges of budget meters not yet paid for relating to the DSO's role as social supplier havealso been recognized. A bank guarantee on behalf of OVAM has been offered securing the execution of soil analyses and/or soilsanitations.Next, guarantees have been offered relating to the Commercial Paper programme, the revolving credit that had been granted, and a bankguarantee has been offered relating to the bank loans for the account of Eandis. 2.�Intangible fixed assets As of 2009 this section includes amounts relating to the introduction of smart meters, smart grids and clearing house.The amounts relating to the charges for the development and implementation of a new management system for the areas of works,supply chain and finance, which have already been fully amortized, have been recognized here.On 1 January 2009 the part of ex-IGAO has also been added for this purpose.The intangible fixed assets are amortized on a straight-line basis over a five year period. 3.�Tangible fixed assets Based on a technical inventory of the tangible fixed assets in combination with current unit prices, an economic reconstruction value(iRAB or initial Regulated Asset Base) has been determined.For the activity electricity this value was determined on 31 December 2001. As agreed by the CREG, this value was included in theaccounts and caused the recording of an (iRAB) surplus value.For the activity gas this value was determined on 31 December 2002, which resulted in a reconstruction value and a (iRAB) surplus value. Up until and including the reporting year 2006 depreciation was conforming to the guidelines laid down by the Flemish Tutelle Authority,as they had been applied earlier, but being different from the guidelines issued by the VREG.Due to the out of court settlement agreement with the CREG, signed on 1 October 2007 and ratified by the Flemish Minister of InternalAffairs, Urban Policy, Housing and Citizenship both the value of the tangible fixed assets on 31 December 2006 and the arrangementsrelating to the depreciation have been finally determined. Due to this agreement the value as per 1 January 2007 has been brought in line with the regulated asset value ratified by the CREG forthe activities electricity and gas. Due to the integration of the infrastructure on the territory of the communities belonging to the former DSO IGAO, the relevant RAB valuesas per 1 January 2009 have been recognized in the accounts of IMEA, Iveka and Intergem. These amounts include the iRAB surplusvalues. The value of the tangible fixed assets also fluctuates in function of:"�the addition of new investments at purchase or cost price including all directly attributable costs;"�the subtraction of intervention payments by third parties based on the relevant cost of purchase; (The sum of the above two elements gives an indication of the net cost of purchase.)"�the subtraction of the net book value (being the balance between the acquisition value and the cumulative depreciation) of disposedassets;"�the subtraction of the depreciation on the net value of purchase;The depreciation charges are determined as follows:2%�cables, lines, pipes and administrative buildings3%�cabins, stations, substations, connections and metering equipment10%�teleread meters and budget meters, optical fibres (for the accounting year 2007 at 5%) and teletransmission, central remote control,telecontrol and dispatching, CHP installations, lab equipment, tools and office furniture, other tangible fixed assets20% �vehicles�33% �IT hardwareLand is not depreciated.All infrastructure elements owned on 31 December, irrespective of their date of acquisition, are depreciated for a complete accountingyear."�the subtraction of the recording at the rate of 2% per year of the revaluation surpluses as present on 31 December 2006. This amount of liabilities is transferred from the revaluation values to the non-available reserves. Every four years the depreciation on the revaluation surpluses will be evaluated in relation to the actual surplus value relating to thedisposals and, if necessary, the currently used percentage will be adapted.�� 4.�Financial fixed assets These are recognized at cost of purchase. 5.��Amounts receivable after more than one year These receivables are recognized in the balance sheet at nominal value. 6.��Stocks and contracts in progress�

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VALUATION RULESThe contracts in progress are stated at cost price. 7.�Amounts receivable within one year ��These receivables are recognized in the balance sheet at nominal value. The receivables related to works finished and services delivered, with the exception of claims for damages and the accounts receivablefrom municipalities, expired for more than six months and which have been entrusted to the Legal Department, are considered to bedoubtful. A write-down of 100 per cent (excluding VAT) is carried out for this purpose. The receivables from energy supplies within the framework of the distribution system operators' social public service obligations (SODV)have been recognized in the balance sheet at nominal value. The receivables from final invoices are considered to be doubtful if theyhave remained unpaid after expiry date in the following cases: bankruptcy, judicial settlement and judicial procedure. For thesereceivables a provision of 100 per cent (excluding VAT) is recognized for receivables below the limit amount to be fixed by the Board ofDirectors and for 80 per cent (excluding VAT) for all other cases.For all other expired SODV receivables a provision is recorded for 100 per cent of the unpaid amount (excluding VAT) if they are olderthan one year and have not been integrated into an agreed upon payment plan; these accounts receivable are thus considered to bedoubtful. If a receivable is expected to be is no longer collectible or if the collection costs exceed the amount of the receivable, the receivable isderecognized utilizing the provision for that purpose.The related VAT is recuperated if the necessary attestations can be obtained. In the framework of the full liberalization of the Flemish energy market on 1 July 2003, a provision for doubtful debts was recorded for allaccounts receivable older than six months on 31 December 2003 with regard to debtors. This additional provision is used in function of therealization of receipts on these accounts receivable or is used for the definitive write-off thereof. 8.�Complement to the annual charges for our public service obligations In the system of yearly meter readings, the consumption amounts of energy having been supplied but not yet billed are calculated involume on the basis of the total amounts of energy bought (allocation), less the consumption volumes billed related to the accounting yearunder consideration. This so-called non-registered consumption is valued making use of the actual invoices during the accounting year,adapted to the average billing parameters being applied during the accounting year. 9.�Accruals The deferred charges and accrued income comprise the management costs transferred by the operating company to the distributionsystem operator conforming to the relevant stipulations in the by-laws and/or board decisions and which correspond to the pensioncharges paid as lump sums for the benefit of the staff formerly attributed to the distribution activities on the territory of the distributionsystem operator. These costs are taken into the charges by the distribution system operator and are spread out over a maximum period oftwenty years, according to the principle of periodical matching of benefits and charges. As to the distribution grid fee, the CREG guarantees that the non-realized benefits can actually be integrated into the future tariffs thanksto the regulatory asset, which is recognized as a non-disputed receivable on the asset side of the balance sheet. The accrued charges and deferred income also include the interests on loans which have already been charged in the current accountingyear but which have to be paid in the course of the following year. 10.�Changes in the valuation policies None. 11.�Changes in the presentation None. 12.�Integration of ex-IGAO The participation of IMEA, Iveka and Intergem in IGAO and the contribution of IGAO shares in 2008 has been replaced as per 1 January2009 by the recognition of their part in ex-IGAO's split-up balance sheet.

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MANAGEMENT REPORT

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ADDITIONAL INFORMATION

The Board of Directors determines that there are no objective or legal criteria to clearly define what is meant with transactions abovenormal market conditions as described in the Royal Decree of August 10, 2009.Therefore the Board of Directors has opted to disclose all substantial transactions with related parties in the notes. This approach is in linewith the international practice where all transactions with related parties need to be disclosed in the financial statements.Herewith an overview of all substantial transactions with related parties:A) recharge of distribution grid revenue��1.783.175,85 EURB) interests on cash pool activities�� 968.878,36 EURC) recharge of management invoices from Eandis to Intergem�120.741.269,80 EURD) purchase of net grid losses�� 7.151.444,08 EURE) purchase of energy for supply to social customers��2.158.467,10 EURF) green certificates sales�� 428.865,00 EUR

ANNUAL ACCOUNT IN EURO (2 decimals) - · PDF fileANNUAL ACCOUNT approved by the General...

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