Lotus Bakeries NV

Registration Form • Apr 10, 2019

40				1	EUR
NAT.	Filing date	Nr.	P.	U.	D.

ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

IDENTIFICATION DETAILS

Public limited company Legal form:
Gentstaat Address: Nr.: Box:		1
9971 Lembeke Postal code:	Municipality:
Belgium Country:
Register of legal persons – commercial court	Gent, Division Gent
Website address1 :
		BE 0401.030.860
03 10 2018 DATE / /	Company identification number of filing the memorandum of association OR of the most recent document mentioning
the date of publication of the memorandum of association and of the act amending the articles of association.
ANNUAL ACCOUNTS IN EUROS (2 decimals) ANNUAL ACCOUNTS
	approved by the general meeting of	10 05 2019 / /
Regarding the financial year from	01 01 2018 / / to	31 12 2018 / /

Total number of pages filed: ................................... Numbers of sections of the standard form not filed because they serve no useful purpose: ...................................................................................................................................................................................................... 35 6.1, 6.2.1, 6.2.2, 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, 6.6, 6.8, 6.14, 6.17, 6.18.2, 6.20, 7, 8, 9, 10

Signature (name and position)

Signature (name and position)

¹ Optional information.

² Strike out what is not applicable.

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

LIST OF THE DIRECTORS, BUSINESS MANAGERS AND AUDITORS

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

Vasticom BVBA Nr.: BE 0551.837.750 Bogaertstraat 11, 9830 Sint-Martens-Latem, Belgium

Represented by:

Jan Vander Stichele Bogaertstraat 11, 9830 Sint-Martens-Latem, Belgium

Mercuur Consult BVBA Nr.: BE 0478.305.614 Burggraaf h. de Spoelberghdreef 15 b, 9831 Deurle, Belgium

Represented by:

Jan Boone Muizenberg 3, 9250 Waasmunster, Belgium

Concellent NV Nr.: BE 0874.495.976 Jan van Boendalelaan 7, 3080 Tervuren, Belgium

Represented by:

Sofie Boone Jan van Boendalelaan 7, 3080 Tervuren, Belgium

PMF NV Nr.: BE 0480.657.962 Nieuwstraat 25, 1745 Opwijk, Belgium

Represented by:

Johan Boone Nieuwstraat 25, 1745 Opwijk, Belgium

Anton Stevens Notaxlaan 30, 9070 Destelbergen, Belgium

Peter Bossaert Troyentenhoflaan 28, 2600 Berchem (Antwerp), Belgium

Leroy Dominique Gaaistraat 27 box A, 1170 Watermael-Boitsfort, Belgium

Benoit Graulich BVBA Nr.: BE 0472.527.877 Bergstraat 16, 1850 Grimbergen, Belgium

Represented by:

Benoit Graulich Bergstraat 16, 1850 Grimbergen, Belgium Chairman of the board of directors 12/05/2017 - 18/05/2021

Managing director 12/05/2017 - 18/05/2021

Director 13/05/2016 - 08/05/2020

Director 12/05/2017 - 18/05/2021

Director 12/05/2017 - 18/05/2021

Director 12/05/2017 - 18/05/2021

Director 12/05/2017 - 15/05/2018

Director 12/05/2017 - 18/05/2021

LIST OF THE DIRECTORS, BUSINESS MANAGERS AND AUDITORS (CONTINUED)

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

Sabine Sagaert BVBA Nr.: BE 0817.731.873 Oranjerielaan 23, 9030 Mariakerke (Gent), Belgium

Represented by:

Sabine Sagaert Oranjerielaan 23, 9030 Mariakerke (Gent), Belgium

Beneconsult BVBA Nr.: BE 0645.880.141 Vlaanderenstraat 2, 8800 Roeselaere, Belgium

Represented by:

Benedikte Boone Vlaanderenstraat 2, 8800 Roeselaere, Belgium

LEMA NV Nr.: BE 0463.212.513 Nelemeersstraat 57, 9830 Sint-Martens-Latem, Belgium

Represented by:

Michel Moortgat Nelemeersstraat 57, 9830 Sint-Martens-Latem, Belgium

PwC Bedrijfsrevisoren BCVBA Nr.: BE 0429.501.944 Woluwedal 18, 1932 Sint-Stevens-Woluwe, Belgium Membership nr.: B00009

Represented by:

Peter Opsomer (Registered auditor) Blue Tower 1 - Sluisweg 1/8, 9000 Gent, Belgium Membership nr.: A01838

Director 08/05/2015 - 10/05/2019

Director 13/05/2016 - 08/05/2020

Director 15/05/2018 - 13/05/2022

Auditor 13/05/2016 - 10/05/2019

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

The managing board declares that no audit or correction assignment has been given to a person who was not authorised to do so by law, pursuant to art. 34 and 37 of the law of 22th April 1999 concerning accounting and tax professions.

The annual accounts were / were not^∗ audited or corrected by an external accountant or by a company auditor who is not the statutory auditor. XXX

If affirmative, mention hereafter: surname, first names, profession and address of each external accountant or company auditor and his membership number with his Institute as well as the nature of his assignment:

• A. Bookkeeping of the enterprise ∗∗,
• B. Preparing the annual accounts ∗∗,
• C. Auditing the annual accounts and/or
• D. Correcting the annual accounts.

If the tasks mentioned under A. or B. are executed by certified accountants or certified bookkeepers - tax specialists, you can mention hereafter: surname, first names, profession and address of each certified accountant or certified bookkeeper - tax specialist and his/her affiliation number with the Institute of Accounting Professional and Tax Experts and the nature of his/her assignment.

Surname, first names, profession and address	Affiliation number	Nature of the assignment (A, B, C and/or D)

^∗ Strike out what is not applicable.

^∗∗ Optional information.

Nr.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
Formation expenses	6.1	20	.	.
FIXED ASSETS		21/28	400.761.081,06	373.592.221,87
Intangible fixed assets	6.2	21	5.987.140.00	7.483.925,00
Tangible fixed assets	6.3	22/27	.
Land and buildings		22	.
Plant, machinery and equipment		23		.
Furniture and vehicles		24	.	.
Leasing and similar rights		25	.	.
Other tangible fixed assets		26	.	.
Assets under construction and advance payments		27
Financial fixed assets		28	394.773.941,06	366.108.296,87
Affiliated enterprises	6.15	280/1	394.773.941,06	366.108.296,87
Participating interests		280	394.773.941,06	366.108.296,87
Amounts receivable		281		.
Enterprises linked by participating interests		282/3
Participating interests		282	.
Amounts receivable		283
Other financial assets		284/8	.	.
Shares		284	.	.
Amounts receivable and cash guarantees		285/8		.

$F3.1$

Discl.	Codes	Period	Preceding period
CURRENT ASSETS	29/58	25.713.024,43	42.625.310,85
Amounts receivable after more than one year	29	.	.
Trade debtors	290	.	.
Other amounts receivable	291	.	.
Stocks and contracts in progress	3	.	.
Stocks	30/36	.	.
Raw materials and consumables	30/31	.	.
Work in progress	32	.	.
Finished goods	33	.	.
Goods purchased for resale	34	.	.
Immovable property intended for sale	35	.	.
Advance payments	36	.	.
Contracts in progress	37	.	.
Amounts receivable within one year	40/41	13.102.665,82	28.622.079.82
Trade debtors	40	12.473.043,00	11.669.481,00
Other amounts receivable	41	629.622.82	16.952.598,82
Current investments	50/53	11.405.525,30	13.918.857,10
Own shares	50	11,405,525,30	13.918.857,10
Other investments	51/53	.	.
Cash at bank and in hand	54/58	1.184.320,47	63.979.34
6.6 Deferred charges and accrued income	490/1	20.512,84	20.394,59
TOTAL ASSETS	20/58	426.474.105,49	416.217.532,72

Nr.

BE 0401.030.860

$F3.1$

Nr. BE 0401.030.860				F 3.2
	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY		10/15	55.885.812,56	68.026.309,39
Capital		10	3.589.951,65	3.584.231,65
Issued capital Uncalled capital		100 101	3.589.951,65	3.584.231,65 .
Share premium account		11	12.729.205,08	12.415.099,08
Revaluation surpluses		12		.
Reserves		13	39.566.655,83	52.026.978.66
Legal reserve		130	358.995,17	358.423,17
Reserves not available		131	11.477.052,32	13.990.384,12
In respect of own shares held		1310	11.405.525,30	13.918.857,10
Other		1311	71.527,02	71.527,02
Untaxed reserves		132	545.328,51	545.328,51
Available reserves		133	27.185.279,83	37.132.842,86
Accumulated profits (losses)		14	.	.
Investment grants		15	.	.
Advance to associates on the sharing out of the assets		19	.	.
PROVISIONS AND DEFERRED TAXES		16	.	.
Provisions for liabilities and charges		160/5		.
Pensions and similar obligations		160	.	.
Taxation		161	.	.
Major repairs and maintenance		162	.	.
Environmental obligations		163	.	.
Other liabilities and charges	6.8	164/5		.
Deferred taxes		168	.	.

Nr.	BE 0401.030.860				F 3.2
		Discl.	Codes	Period	Preceding period
	AMOUNTS PAYABLE		17/49	370.588.292,93	348.191.223,33
	Amounts payable after more than one year	6.9	17	107.573.010,24	107.436.223,24
	Financial debts		170/4	98.140.495,00	98.140.495,00
	Subordinated loans		170
	Unsubordinated debentures		171
	Leasing and other similar obligations		172
	Credit institutions		173
	Other loans		174	98.140.495,00	98.140.495,00
	Trade debts		175
	Suppliers		1750
	Bills of exchange payable		1751
	Advances received on contracts in progress		176
	Other amounts payable		178/9	9.432.515,24	9.295.728,24
	Amounts payable within one year	6.9	42/48	263.008.722,84	240.750.076,80
	Current portion of amounts payable after more than one year
	falling due within one year		42
	Financial debts		43	233.100.539,77	217.755.978,60
	Credit institutions		430/8
	Other loans		439	233.100.539,77	217.755.978,60
	Trade debts		44	5.589.620,66	5.784.533,77
	Suppliers		440/4	5.589.620,66	5.784.533,77
	Bills of exchange payable		441
	Advances received on contracts in progress		46
	Taxes, remuneration and social security	6.9	45	384.120,00	1.053.465,00
	Taxes		450/3	384.120,00	1.053.465,00
	Remuneration and social security		454/9
	Other amounts payable		47/48	23.934.442,41	16.156.099,43
	Accruals and deferred income	6.9	492/3	6.559,85	4.923,29
	TOTAL LIABILITIES		10/49	426.474.105,49	416.217.532,72

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income Turnover	6.10	70/76A 70	12.469.424,36	11.669.481,00
Stocks of finished goods and work and contracts in progress: increase (decrease) (+)/(-) Own work capitalised		71 72
Other operating income Non-recurring operating income	6.10 6.12	74 76A	12.469.424,36	11.669.481,00
Operating charges Raw materials, consumables Purchases		60/66A 60 600/8	6.398.601,81	5.147.627,17
Stocks: decrease (increase) (+)/(-) Services and other goods		609 61	3.605.691,87	3.129.508,15
Remuneration, social security costs and pensions (+)/(-) Depreciation of and other amounts written off formation expenses, intangible and tangible fixed assets	6.10	62 630	1.496.785,00	1.496.785,00
Amounts written off stocks, contracts in progress and trade debtors: Appropriations (write-backs) (+)/(-) Provisions for liabilities and charges: Appropriations (uses	6.10	631/4
(+)/(-) and write-backs)	6.10	635/8
Other operating charges	6.10	640/8	257.222,41	41.334,02
Operating charges carried to assets as restructuring costs(-) Non-recurring operating charges	6.12	649 66A	1.038.902,53	480.000,00
Operating profit (loss) (+)/(-)		9901	6.070.822,55	6.521.853,83

Nr.	BE 0401.030.860				F 4
		Discl.	Codes	Period	Preceding period
	Financial income		75/76B	9.607.513,45	7.104.319,55
	Recurring financial income		75	9.607.513,45	7.104.319,55
	Income from financial fixed assets		750	7.961.634,59	6.288.559,29
	Income from current assets		751
	Other financial income	6.11	752/9	1.645.878,86	815.760,26
	Non-recurring financial income	6.12	76B
	Financial charges		65/66B	3.500.555,12	3.492.044,92
	Recurring financial charges	6.11	65	3.500.555,12	3.492.044,92
	Debt charges		650	3.345.071,05	3.195.743,61
	Amounts written off current assets except stocks, contracts in progress and trade debtors: appropriations (write-backs)
	(+)/(-)		651
	Other financial charges		652/9	155.484,07	296.301,31
	Non-recurring financial charges	6.12	66B
	Gain (loss) for the period before taxes	(+)/(-)	9903	12.177.780,88	10.134.128,46
	Transfer from deferred taxes		780
	Transfer to deferred taxes		680
	Income taxes (+)/(-)	6.13	67/77	723.726,71	1.088.022,55
	Taxes		670/3	723.726,71	1.088.022,55
	Adjustment of income taxes and write-back of tax provisions		77
	(+)/(-) Gain (loss) of the period		9904	11.454.054,17	9.046.105,91
	Transfer from untaxed reserves		789
	Transfer to untaxed reserves		689
	Gain (loss) of the period available for appropriation (+)/(-)		9905	11.454.054,17	9.046.105,91

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated Gain (loss) of the period available for appropriation (+)/(-)	9906 (9905)	11.454.054,17 11.454.054,17	9.046.105,91 9.046.105,91
Profit (loss) brought forward	14P
Withdrawals from capital and reserves	791/2	12.460.894,83	7.092.032,39
from capital and share premium account	791
from reserves	792	12.460.894.83	7.092.032,39
Transfer to capital and reserves	691/2	572,00	844.80
to capital and share premium account	691	.	.
to legal reserve	6920	572.00	844.80
to other reserves	6921	.
Accumulated profits (losses)	(14)
Owners' contribution in respect of losses	794		.
Profit to be distributed	694/7	23.914.377.00	16.137.293.50
Dividends	694	23.664.377,00	15.887.293,50
Directors' or managers' entitlements	695	250.000,00	250.000,00
Employees	696
Other beneficiaries	697

Nr.	BE 0401.030.860				F 6.2.3
			Codes	Period	Preceding period
RIGHTS	CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR
	Acquisition value at the end of the period		8052P	xxxxxxxxxxxxxxx	14.967.850,00
	Movements during the period
	Acquisitions, including produced fixed assets		8022
	Sales and disposals		8032
	Transfers from one heading to another	(+)/(-)	8042
	Acquisition value at the end of the period		8052	14.967.850,00
	Depreciations and amounts written down at the end of the period		8122P	xxxxxxxxxxxxxxx	7.483.925,00
	Movements during the period
	Recorded		8072	1.496.785,00
	Written back		8082
	Acquisitions from third parties		8092
	Cancelled owing to sales and disposals		8102
	Transferred from one heading to another	(+)/(-)	8112
	Depreciations and amounts written down at the end of the period		8122	8.980.710,00
	NET BOOK VALUE AT THE END OF THE PERIOD		211	5.987.140,00

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P	xxxxxxxxxxxxxxx	366.108.296,87
Movements during the period
Acquisitions	8361	28.665.644,19
Sales and disposals	8371
(+)/(-) Transfers from one heading to another	8381
Acquisition value at the end of the period	8391	394.773.941,06
Revaluation surpluses at the end of the period	8451P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8411
Acquisitions from third parties	8421
Cancelled	8431
Transferred from one heading to another (+)/(-)	8441
Revaluation surpluses at the end of the period	8451
Amounts written down at the end of the period	8521P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8471
Written back	8481
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
Transferred from one heading to another (+)/(-)	8511
Amounts written down at the end of the period	8521
Uncalled amounts at the end of the period	8551P	xxxxxxxxxxxxxxx
(+)/(-) Movements during the period	8541
Uncalled amounts at the end of the period	8551
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	394.773.941,06
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8581
Repayments	8591
Amounts written down	8601
Amounts written back	8611
(+)/(-) Exchange differences	8621
(+)/(-) Other movements	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF
THE PERIOD	8651

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES

List of the enterprises in which the enterprise holds a participating interest, (recorded in heading 280 and 282 of assets) and the other enterprises in which the enterprise holds rights (recorded in headings 284 and 51/53 of assets) for an amount of at least 10 % of the capital issued.

		Rights held					Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
Lotus Bakeries België BE 0421.694.038 Public limited company Gentstraat 52 9971 Lembeke Belgium	Ordinary shares	151.260	99,99	0,0	31/12/2017	EUR	47.792.740,00	3.610.631,00
Cremers-Ribert BE 0427.808.008 Public limited company Gentstraat 52 9971 Lembeke Belgium	Ordinary shares	3.009.503	99,99	0,01	31/12/2017	EUR	25.574.114,00	4.917.142,00
Interwaffles BE 0439.312.406 Public limited company Rue de Liège 39 6180 Courcelles Belgium	Ordinary shares	6.782	99,85	0,15	31/12/2017	EUR	12.806.999,00	358.626,00
Lotus Bakeries Corporate BE 0881.664.870 Public limited company Gentstraat 1 9971 Lembeke Belgium	Ordinary shares	108.566	99,99	0,01	31/12/2017	EUR	139.836.330,00	3.831.994,00
Lotus Bakeries France SAS Foreign company Place du Château BP91 59560 Comines France	Ordinary shares	43.434	100,0	0,0	31/12/2017	EUR	9.499.825,00	-408.797,00

Nr.	BE 0401.030.860		F 6.5.1
-----	-----------------	--	---------

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES (CONTINUED)

	Rights held				Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
Lotus Bakeries Nederland BV Foreign company Oosterdijk 3E 1601 DA Enkhuizen Netherlands	Ordinary shares	2.000	100,0	0,0	31/12/2017	EUR	16.570.196,00	-932.745,00
Lotus Bakeries GmbH Foreign company Rather Strasse 110 box A 44076 Düsseldorf Germany					31/12/2017	EUR	2.321.501,00	20.569,00
	Ordinary shares	10.000	100,0	0,0
Lotus Bakeries Réassurances SA Foreign company Rue de Merl 74 L-2146 Luxembourg Luxembourg	Ordinary shares	4.995	99,9	0,1	31/12/2017	EUR	1.293.502,00	0,00
Lotus Bakeries CZ sro Foreign company Slezkà 844 box 96 130 00 Praag 3 Czech Republic	Ordinary shares	100	100,0	0,0	31/12/2017	CZK	16.586.375,00	11.686.563,00
Lotus Bakeries UK ltd Foreign company 3000 Manchester Business Park, Aviator Way M22 5TG Manchester United Kingdom	Ordinary shares	5.999	99,99	0,01	31/12/2017	GBP	77.496.866,00	1.324.105,00
Lotus Bakeries Ibérica S.L. Foreign company C/ Severo Ochoa, 3, 2a Planta Oficina 8A ES-28232 Las Rozas (Mardrid) Spain	Ordinary shares	475	95,0	0,0	31/12/2017	EUR	334.663,00	19.752,00
Annas - Lotus Bakeries Holding AB Foreign company Radiovägen 23 135 48 Tyresö Sweden					31/12/2017	SEK	-32.248.697,00	-6.633.328,00

Nr.	BE 0401.030.860		F 6.5.1
-----	-----------------	--	---------

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES (CONTINUED)

	Rights held				Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature	Number	%	%	accounts as per	ncy code	(+) or (-) (in units)
Lotus Bakeries Asia Pasific Limited Foreign company	Ordinary shares	1.001	100,0	0,0
Yun Ping Road - Caroline Centre Room 2302 - 23rd floor - Lee Gardens 28
Hong Kong	Ordinary shares	250.000	100,0	0,0	31/12/2017	EUR	16.096.673,00	1.298.582,00
Lotus Bakeries Schweiz AG Foreign company Nordstrasse 3 6300 Zug
Switzerland	Ordinary shares	200	100,0	0,0	31/12/2017	CHF	10.151.286,00	6.583.516,00
Lotus Bakeries North America Foreign company Sansome Street Suite 220 CA 94111-1323 San Francisco United States					31/12/2017	USD	4.800.770,00	4.782.743,00
Lotus Bakeries North America Calgary Foreign company	Ordinary shares	1.000	100,0	0,0
L.M. Gordon LAW Office, 20th street 2213 T0L 1R0 Alberta Canada					31/12/2017	CAD	1.374.754,00	1.310.030,00
Lotus Bakeries Chile spa	Ordinary shares	200	100,0	0,0
Foreign company Nueva Tajamar 555 OF 401 7550000 Las Condes Chile					31/12/2017	CLP	15.449.736,00	0,00
	Ordinary shares	100	100,0	0,0
Biscuiterie Willems BE 0401.006.413 Private company with limited liability Nieuwendorpe 33 box C 9900 Eeklo Belgium					31/12/2017	EUR	30.667.086,00	5.869.810,00
	Ordinary shares	2.999	99,99	0,0

Nr.	BE 0401.030.860		F 6.5.1
-----	-----------------	--	---------

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES (CONTINUED)

	Rights held				Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed		directly		subsidiari es	Annual	Curre	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER		Number	%	%	per	code	(+) or (-) (in units)
by Belgian law, the B.W.I. BE 0898.518.522 Private company with limited liability Ambachtenstraat 5 9900 Eeklo Belgium Lotus Bakeries Austria GmbH Foreign company Fleischmarkt 1/6/12 1010 Vienna Austria	Nature Ordinary shares Ordinary shares	599 1	99,99 100,0	0,0 0,0	accounts as 31/12/2017 31/12/2017	ncy EUR EUR	5.052.389,00 -17.114,00	1.579.992,00 -52.114,00

Nr. BE 0401.030.860	F 6.5.2
------------------------	---------

LIST OF ENTERPRISES FOR WHICH THE ENTERPRISE HAS UNLIMITED LIABILITY AS ASSOCIATE OR MEMBER

The annual accounts of each enterprise for which the enterprise has unlimited liability is added to the present statement and published jointly, unless reason for not complying with this requirement is mentioned in the second column using the appropriate code (as defined below: A, B, C or D).

The annual accounts of the indicated company:

• A. will be published by filing with the National Bank of Belgium by this enterprise;
• B. will actually be published by this enterprise in another member state of the EC pursuant to art. 3 of the directive 2009/101/EC;
• C. will be fully or proportionally consolidated in the consolidated annual statements of the enterprise which is prepared, audited and published pursuant to the Code of companies on the consolidated annual accounts of enterprises;
• D. relates to a partnership under civil law, a consortium or a silent partnership.

NAME, full address of the REGISTERED OFFICE, LEGAL FORM and for an enterprise governed by Belgian law, THE COMPANY IDENTIFICATION NUMBER	Possible code
Lotus Bakeries France SAS
Foreign company Place du Château BP91, 59560 Comines, France	C
Lotus Bakeries Nederland BV Foreign company Oosterdijk 3 box E, 1601 DA Enkhuizen, Netherlands	C
Lotus Bakeries GmBH Foreign company Rather Strasse 110 box A, 44076 Düsseldorf, Germany	C
Lotus Bakeries CZ sro Foreign company Slezkà 844 box 96, 130 00 Praag 3, Czech Republic	C
Annas - Lotus Bakeries Holding AB Foreign company Radiovägen 23, 135 48 Tyresö, Sweden	C
Lotus Bakeries Asia Pacific Limited Foreign company Yun Ping Road - Caroline Centre Room 2302 - 23rd floor 28, , Hong Kong	C
Lotus Bakeries Schweiz Foreign company Nordstrasse 3, 6300 Zug, Switzerland	C
Lotus Bakeries North America Foreign company Sansome Street 220, CA 94111-1323 San Francisco, United States	C
Lotus Bakeries North America Calgary Foreign company L.M. Gordon LAW office, 20th Street 2213, T0L 1R0 Alberta, Canada	C
Lotus Bakeries Chile spa Foreign company Nueva Tajamar 555 OF 401, 7550000 Las Condes, Chile	C
Lotus Bakeries Austria GmBH Foreign company Fleischmarkt 1/6/12, 1010 Vienna, Austria	C

Nr.	BE 0401.030.860

Owing to the exercise of subscription rights

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

	Codes	Period		Preceding period
STATEMENT OF CAPITAL
Social capital Issued capital at the end of the period	100P	XXXXXXXXXXXXXX		3.584.231,65
Issued capital at the end of the period	(100)	3.589.951,65
	Codes	Value		Number of shares
Changes during the period
Capital increase			5.720,00	1.300
		. .		.
.		.		.
Structure of the capital
Different categories of shares
Ordinary shares		3.589.951,65		815.733
		.
				.
Registered shares	8702	XXXXXXXXXXXXX		. 468.994
Shares dematerialized	8703	XXXXXXXXXXXXX		346.739
	Codes	Uncalled amount		Capital called but not paid
Capital not paid Uncalled capital Called up capital, unpaid	(101) 8712	XXXXXXXXXXXXX		XXXXXXXXXXXXX .
Shareholders having yet to pay up in full
				.
			Codes	Period
Own shares
Held by the company itself
Amount of capital held			8721	42.856,00
Corresponding number of shares			8722	9.740
Held by the subsidiaries
Amount of capital held			8731	.
Corresponding number of shares			8732	.
Commitments to issue shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans			8740
Amount of capital to be subscribed			8741	.
Corresponding maximum number of shares to be issued			8742	.

Number of outstanding subscription rights ....................................

Amount of capital to be subscribed ....................................

Corresponding maximum number of shares to be issued ....................................

Authorized capital not issued ....................................

8745

8746

8747

8751

280

280

1.232,00

943.386,55

Nr. F 6.7.1 BE 0401.030.860
-----------------------------------

	Codes	Period
Shares issued, non representing capital
Distribution
Number of shares	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidiaries	8781

The shareholding structure of Lotus Bakeries NV on 31 December 2018:

Total		815,733	100.00%
•	Publicly held (³)	350,576	42.98%
•	Lotus Bakeries NV(2 )	9,740	1.19%
•	Stichting Administratiekantoor van Aandelen 1 Lotus Bakeries ( )	455,417	55.83%
		No. of voting rights % of voting rights

• (1) Stichting Administratiekantoor van Aandelen Lotus Bakeries is not controlled. The interest of Stichting Administratiekantoor van Aandelen Lotus Bakeries in Lotus Bakeries NV appears in the transparency notification that Lotus Bakeries NV received on 5 April 2013* and in the notifications to Lotus Bakeries NV of the certification of Lotus Bakeries shares in July 2014 and in April 2018.
• (2) The voting rights attached to the shares held by Lotus Bakeries NV have been suspended. The dividends have not been suspended and will be distributed to Lotus Bakeries NV.
• (3) Under publicly held shares, 27,000 shares (3.31%) are held by Holding Biloba BVBA and 20,298 shares (2.49%) by Christavest Comm.VA (controlled by Holding Biloba BVBA). The interest of Christavest Comm.VA in Lotus Bakeries NV appears in the transparency notification that Lotus Bakeries NV received on 3 July 2014 (Pursuant to article 6 of the Law of 2 May 2007 on disclosure of major holdings).
• (*) Pursuant to article 6 of the Law of 2 May 2007 on disclosure of major holdings.

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED INCOME

	Codes	Period
BREAKDOWN OF AMOUNTS PAYABLE WITH AN ORIGINAL PERIOD TO MATURITY OF MORE THAN ONE
YEAR, ACCORDING TO THEIR RESIDUAL TERM
Current portion of amounts payable after more than one year falling due within one year Financial debts	8801
	8811
Subordinated loans ………………………………………………………………………………………………		.
Unsubordinated debentures	8821	.
Leasing and other similar obligations	8831	.
Credit institutions	8841	.
Other loans	8851	.
Trade debts ………………………………………………………………………………………………	8861	.
Suppliers	8871	.
Bills of exchange payable	8881	.
Advance payments received on contract in progress	8891	.
Other amounts payable	8901	.
Total current portion of amounts payable after more than one year falling due within one year	(42)
Amounts payable with a remaining term of more than one but not more than five years
Financial debts	8802	98.140.495,00
Subordinated loans	8812
	8822
Unsubordinated debentures		.
Leasing and other similar obligations	8832	.
Credit institutions ………………………………………………………………………………………………	8842
Other loans	8852	98.140.495,00
Trade debts ………………………………………………………………………………………………	8862	.
Suppliers	8872	.
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892
Other amounts payable	8902	9.432.515,24
Total amounts payable with a remaining term of more than one but not more than five years	8912	107.573.010,24
Amounts payable with a remaining term of more than five years
Financial debts ………………………………………………………………………………………………	8803	.
Subordinated loans	8813	.
Unsubordinated debentures	8823	.
Leasing and other similar obligations	8833
Credit institutions ………………………………………………………………………………………………	8843
Other loans	8853
Trade debts	8863	.
Suppliers	8873	.
Bills of exchange payable	8883	.
Advance payments received on contracts in progress	8893
Other amounts payable	8903
	8913
Total amounts payable with a remaining term of more than five years		.

$F6.9$

Nr. BE 0401.030.860		F 6.9
	Codes	Period
GUARANTEED AMOUNTS PAYABLE (included in headings 17 and 42/48 of the liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and similar obligations	8951
Credit institutions ………………………………………………………………………………………………	8961
Other loans	8971
Trade debts	8981
Suppliers ………………………………………………………………………………………………	8991
Bills of exchange payable	9001	.
Advance payments received on contracts in progress	9011
Remuneration and social security	9021
Other amounts payable	9051
Total amounts payable guaranteed by Belgian public authorities	9061
Amounts payable guaranteed by real securities or irrevocably promised by the enterprise on its own assets
Financial debts	8922
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and similar obligations	8952
Credit institutions	8962
Other loans	8972
Trade debts	8982
Suppliers	8992
Bills of exchange payable	9002
Advance payments received on contracts in progress	9012
Taxes, remuneration and social security	9022
Taxes ………………………………………………………………………………………………	9032
Remuneration and social security	9042
Other amounts payable	9052	.
Total amounts payable guaranteed by real securities or irrevocably promised by the enterprise
on its own assets	9062	.

	Codes	Period
TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 of the liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073	271.165.00
Estimated taxes payable	450	112.955.00
Remuneration and social security (heading 454/9 of the liabilities)
Amounts due to the National Social Security Office	9076
Other amounts payable in respect of remuneration and social security	9077

Nr.	BE 0401.030.860	ECO . ০.১
		Period

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

ACCRUALS AND DEFERRED INCOME

.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
.

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Net turnover
Allocation by categories of activity
.		.	.
		.	.
		.	.
			.
Allocation into geographical markets
		.	.
		.	.
		.
Other operating income Operating subsidies and compensatory amounts received from public authorities	740	.	.
OPERATING CHARGES
Employees for whom the enterprise submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	.	.
Average number of employees calculated in full-time equivalents	9087	.
Number of actual worked hours	9088
Personnel costs
Remuneration and direct social benefits	620	.	.
Employers' contribution for social security	621	.	.
Employers' premiums for extra statutory insurance	622	.	.
Other personnel costs	623	.
Retirement and survivors' pensions	624		.

Nr. BE 0401.030.860			F 6.10
	Codes	Period	Preceding period
Provisions for pensions and other similar rights
Appropriations (uses and write-backs)	635
Amounts written off
Stocks and contracts in progress
Recorded	9110	.
Written back	9111	.
Trade debts
Recorded	9112	.	.
Written back	9113	.	.
Provisions for liabilities and charges
Additions	9115	.	.
Uses and write-backs	9116	.	.
Other operating charges
Taxes related to operation	640	257.222,41	41.334,02
Other costs	641/8		.
Hired temporary staff and personnel placed at the enterprise's disposal
Total number at the closing date	9096	.	.
Average number calculated in full-time equivalents	9097	.	.
Number of actual worked hours	9098	.	.
Costs to the enterprise	617		.

FINANCIAL RESULTS

	Codes	Period	Preceding period
RECURRING FINANCIAL INCOME
Other financial income Subsidies granted by public authorities and recorded as income for the period
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
Advantageous exchange differences		1.542.651,97	814.991,94
Positive foreign currency translation adjustment		102.666,41	768,32
Financial rebate		0,00	0,00
Payment differences		560,48	0,00
Hedging		0,00	0,00
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501
Capitalized Interests	6503
Amounts written off current assets
Recorded	6510
Written back	6511
Other financial charges Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial charges
(+)/(-) Realized exchange losses		63.142,39	31,50
Payment differences disavantage (+)/(-)		0,00	0,00
Bank and collection costs (+)/(-)		58.168,19	56.460,61
(+)/(-) Hedging costs		0,00	0,00
(+)/(-) Unrealised exchange losses from translation of foreign currencies		34.173,49	151.501,20
(+)/(-) Capital loss on disposal of treasury shares		0,00	88.308,00

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

	Codes	Period	Preceding period
NON RECURRING INCOME	76
Non-recurring operating income	(76A)
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
Write-back of provisions for extraordinary operating liabilities and charges	7620
Capital gains on disposal of intangible and tangible fixed asset	7630
Other non-recurring operating income	764/8
Non-recurring financial income	(76B)
Write-back of amounts written down financial fixed assets	761
Write-back of provisions for extraordinary financial liabilities and charges	7621
Capital gains on disposal of financial fixed assets	7631
Other non-recurring financial income	769
NON-RECURRING EXPENSES	66	1.038.902,53	480.000,00
Non-recurring operating charges	(66A)	1.038.902,53	480.000,00
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660
Provisions for extraordinary operating liabilities and charges: Appropriations (uses) (+)/(-)	6620
Capital losses on disposal of intangible and tangible fixed assets	6630
Other non-recurring operating charges	664/7	1.038.902,53	480.000,00
Non-recurring operating charges carried to assets as restructuring costs .(-)	6690
Non-recurring financial charges	(66B)
Amounts written off financial fixed assets	661
Provisions for extraordinary financial liabilities and charges - Appropriations (uses) (+)/(-)	6621
Capital losses on disposal of financial fixed assets	6631
Other non-recurring financial charges	668
Non-recurring financial charges carried to assets as restructuring costs (-)	6691

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	723.726,71
Income taxes paid and withholding taxes due or paid	9135	610.771,71
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136	.
Estimated additional taxes	9137	112.955.00
Income taxes on the result of prior periods	9138	.
Additional income taxes due or paid	9139
Additional income taxes estimated or provided for	9140
In so far as taxes of the period are materially affected by differences between the profit before taxes as stated in annual accounts and the estimated taxable profit
Untaxed surplus value		-1.542.651,97
Disallowed expenses		6.249.14
Dividend received deduction (DRD)		-7.961.634,59

Impact of non recurring results on the amount of the income taxes relating to the current period

	Codes	Period
Status of deferred taxes Deferred taxes representing assets	9141	.
Accumulated tax losses deductible from future taxable profits Other deferred taxes representing assets	9142
.		.
. Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities
.

	Codes	Period	Preceding period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	744.022.91	544.322,39
By the enterprise	9146	265.440.28	10.484.99
Amounts withheld on behalf of third party
For payroll withholding taxes	9147
For withholding taxes on investment income	9148	3.000.371,40	2.393.233.64

$F$ 6.13

'n

RELATIONSHIPS WITH AFFILIATED ENTERPRISES, ASSOCIATED ENTERPRISES AND OTHERS ENTERPRISES
LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	394.773.941,06	366.108.296,87
Participating interests	(280)	394.773.941,06	366.108.296,87
Subordinated amounts receivable	9271
Other amounts receivable	9281
Amounts receivable	9291	13.102.665,82	28.614.579,82
Over one year	9301	.	.
Within one year	9311	13.102.665,82	28.614.579,82
Current investments	9321
Shares	9331	.	.
Amounts receivable	9341	.	.
Amounts payable	9351	345.315.456,75	329.713.849,68
Over one year	9361	107.573.010,24	107.436.223,24
Within one year	9371	237.742.446,51	222.277.626,44
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or
commitments of affiliated enterprises	9381
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391	.	.
Other significant financial commitments	9401		.
Financial results
Income from financial fixed assets	9421	7.961.634,59	6.288.559,29
Income from current assets	9431	.	.
Other financial income	9441	.	.
Debt charges	9461	3.339.513,89	3.195.512,88
Other financial charges	9471	.	.
Disposal of fixed assets
Capital gains obtained	9481	.	.
Capital losses suffered	9491

	Codes	Period	Preceding period
ASSOCIATED ENTERPRISES
Financial fixed assets	9253
Participating interests	9263	.
Subordinated amounts receivable	9273	.	.
Other amounts receivable	9283	.	.
Amounts receivable	9293		.
Over one year	9303	.
Within one year	9313	.	.
Amounts payable	9353
Over one year	9363	.
Within one year	9373	.
Personal and real guarantees Provided or irrevocably promised by the enterprise as security for debts or commitments of associated enterprises Provided or irrevocably promised by associated enterprises as security for debts or commitments of the enterprise	9383 9393
Other significant financial commitments	9403
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	9252
Participating interests	9262	.	.
Subordinated amounts receivable	9272	.	.
Other amounts receivable	9282	.	.
Amounts receivable	9292	.	.
Over one year	9302	.	.
Within one year	9312	.	.
Amounts payable	9352		.
Over one year	9362	.
Within one year	9372	.	.

Nr.

BE 0401.030.860

TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF 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 which should be necessary to get a better understanding of the situation of the company
All of any significant transactions with related parties are carried out under conditions that are not materially different from normal market conditions.

	Nr.	BE 0401.030.860		F 6.16
--	-----	-----------------	--	--------

FINANCIAL RELATIONSHIPS WITH

DIRECTORS, MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS

	Codes	Period
Amounts receivable from these persons	9500
Conditions on amounts receivable, rate, duration, possibly reimbursed amounts, canceled amounts or renounced amounts
Guarantees provided in their favour	9501
Other significant commitments undertaken in their favour	9502
Amount of direct and indirect remunerations and pensions, included 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	9503
To former directors and former managers	9504

AUDITORS OR PEOPLE THEY ARE LINKED TO

	Codes	Period
Auditor's fees	9505	80.106,00
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061	2.312,00
Tax consultancy	95062
Other missions external to the audit	95063	23.835,00
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082	12.216,00
Other missions external to the audit	95083	105.000,00

Mentions related to article 133, paragraph 6 from the Companies Code

Nr.	BE 0401.030.860	F 6.18.1

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

INFORMATION TO DISCLOSE BY EACH ENTERPRISE THAT IS SUBJECT TO COMPANY LAW ON THE CONSOLIDATED ACCOUNTS OF ENTERPRISES

The enterprise has prepared and published consolidated accounts and a consolidated report

VALUATION RULES

ACCOUNTING PRINCIPLES

1. Assets

1.1 Formation expenses

Formation expenses are recorded at cost and depreciated at 100%.

1.2 Intangible fixed assets

Intangible fixed assets are recorded at purchase or transfer price. The amortization percentages applied are:

• brand 10%
• software 33%

1.3 Financial fixed assets

Financial fixed assets are valued at acquisition price or contribution value without supplementary costs.

Reductions in value are applied where the esti¬mated value of the financial fixed assets is less than the accounting value and where the loss of value so determined is of a lasting nature in the opinion of the Board of Directors.

The estimated value of the financial fixed assets is determined at the end of the accounting period based on the most recent available balance sheet and on one or more criteria.

Reductions in value are reversed, up to the amount of the previously recorded reductions in value, where the valuation at the clos¬ing date of the accounting period con¬cerned significantly exceeds the previ¬ous valuation.

1.4 Receivables

The necessary reductions in value are applied to receivables, the collection of which is in doubt.

Receivables are recorded at their nominal value, less any credit notes remaining to be drawn up.

Receivables in foreign currencies are converted at the exchange rate applying on the balance sheet date.

Negative exchange rate differences in non-euro currencies are included in the income statement as in the past.

1.5 Investments and cash at bank and in hand

Treasury shares are valued at purchase price.

Cash at bank and in hand in foreign currency is converted at the exchange rate applying on the balance sheet date.

Both the negative and the positive conversion differences are included in the profit and loss account.

2. Liabilities

2.1 Provisions for liabilities and charges

Nr.	BE 0401.030.860		F 6.19
-----	-----------------	--	--------

Provisions have been made for all nor¬mally foreseeable liabilities and charges.

2.2 Amounts payable within one year

Suppliers

Debts to suppliers are booked at their nominal value. Debts in foreign currencies are valued at the rate of exchange on the balance date. Exchange rate differences are processed in the same way as for foreign currency receivables.

1. Additional information

The company is part of a VAT unit which was formed within the Group and to which the following companies belong:

• Lotus Bakeries NV
• Lotus Bakeries België NV
• Cremers-Ribert NV
• Interwaffles SA
• Lotus Bakeries Corporate NV
• B.W.I. BVBA
• Biscuiterie Willems BVBA

Consequently, the company is jointly and severally liable for the tax debts of all the above companies.