Lotus Bakeries NV

Annual Report • Apr 9, 2014

40					EUR
NAT.	Date of deposit	Nr.	P.	E	D.				F 1.1
		ANNUAL ACCOUNTS IN EUROS (2 decimals)
	NAME. Lotus Bakeries
		Legal form: Public.limited.company
		Address: GENTSTRAAT
		Postal code: 9971
		Country: Belgium
		Register of legal persons - commercial court:
		Website*:
					Company number			BE 0401.030.860
DATE	17 / 10 / 2012	of deposit of 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 approved by the general meeting of				05 7 2014 09 /
		regarding the period from		01/01	2013 $\prime$	to	31/12	2013 $\sqrt{ }$
		Preceding period from		01/01	2012 $\sqrt{ }$	to	31/12	2012
		The amounts for the preceding period are / are / and the net identical to the ones previously published.
		COMPLETE LIST with name, surnames, profession, address (street, number, postal code and municipality) and position within the company, of the DIRECTORS, BUSINESS MANAGERS AND AUDITORS
	Beukenlaan NV Nr.: BE 0437.826.524	Beukenlaan 2, 9971 Lembeke, Belgium					Chairman of the board of directors 14/05/2013 - 12/05/2017
	Represented by:
	Matthieu Boone	Beukenlaan 2, 9971 Lembeke, Belgium
	CofigoMM BVBA Nr.: BE 0467.946.212	Cumontstraat 13, 9300 Aalst, Belgium					Managing director 14/05/2013 - 12/05/2017
	Represented by:
	Jan Vander Stichele	Bogaertstraat 11, 9830 Sint-Martens-Latem. Belgium
	Mercuur Consult NV Nr.: BE 0478.305.614	Burggraaf h. de Spoelberghdreef 15 b, 9831 Deurle, Belgium					Managing director 14/05/2013 - 12/05/2017

Are attached to these annual accounts:

Total number of pages deposited: ........36........... Numbers of sections of the standard form not deposited because they serve no useful purpose: 5.1, 5.2.1, 5.2.3, 5.2.4, 5.3.1, 5.3.2, 5.3.3, 5.3.4, 5.3.5, 5.3.6, 5.4.2, 5.4.3, 5.8, 5.13, 5.17.2, 8, 9

Signature (name and position)

Signature (name and position)

Nr.	BE 0401.030.860		F 1.1
-----	-----------------	--	-------

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

Represented by:

Jan Boone	Burggraaf h. de Spoelberghdreef 15 b, 9831 Deurle, Belgium
PMF NV Nr.: BE 0480.657.962	Nieuwstraat 25, 1745 Opwijk, Belgium	Director 14/05/2013 - 12/05/2017
Represented by:
Johan Boone	Nieuwstraat 25, 1745 Opwijk, Belgium
Anton Stevens	Notaxlaan 30, 9070 Destelbergen, Belgium	Director 14/05/2013 - 12/05/2017
Herman Van de Velde NV Nr.: BE 0460.768.212	Dendermondsesteenweg 90, 9230 Wetteren, Belgium	Director 14/05/2013 - 12/05/2017
Represented by:
Herman Van de Velde	Dendermondsesteenweg 90, 9230 Wetteren, Belgium
Dominique Leroy	Gaaistraat 27 A, 1170 Watermael-Boitsfort, Belgium	Director 14/05/2013 - 12/05/2017
Benoit Graulich BVBA Nr.: BE 0472.527.877	Meiskensbeekstraat 33, 1851 Humbeek, Belgium	Director 14/05/2013 - 12/05/2017
Represented by:
Benoit Graulich	Meiskensbeekstraat 33, 1851 Humbeek, Belgium
Sabine Sagaert BVBA Nr.: BE 0817.731.873	Oranjerielaan 23, 9030 Mariakerke (Gent), Belgium	Director 13/05/2011 - 08/05/2015
Represented by:
Sabine Sagaert	Oranjerielaan 23, 9030 Mariakerke (Gent), Belgium
Bene Invest BVBA Nr.: BE 0827.893.713	Vlaanderenstraat 2, 8800 Roeselaere, Belgium	Director 11/05/2012 - 13/05/2016
Represented by:
Benedikte Boone	Vlaanderenstraat 2, 8800 Roeselaere, Belgium
PWC cvba Nr.: BE 0429.501.944 Membership nr.: B00009	Woluwedal 18, 1932 Sint-Stevens-Woluwe, Belgium	Auditor 14/05/2013 - 13/05/2016
Represented by:
Peter Opsomer Membership nr.: A01838	W. Wilsonplein 5 box G, 9000 Gent, Belgium

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 Mate / were not audited or corrected by an external accountant or by a company auditor who is not the statutory auditor.

If affirmative, mention hereafter: name, surnames, profession, 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: name, surnames, profession, address of each certified accountant or certified bookkeeper - tax specialist and the nature of his assignment.

Name, surnames, profession and address	Number	Nature of the assignment (A, B, C and/or D)

Strike out what is not applicable.

^** Optional information.

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
FIXED ASSETS		20/28	248.879.148,70	215.341.600,70
Formation expenses	5.1	20	.	.
Intangible fixed assets	5.2	21	13.471.065,00	14.967.850,00
Tangible fixed assets	5.3	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	5.4/	27	.	.
Financial fixed assets	5.5.1	28	235.408.083,70	200.373.750,70
Affiliated enterprises	5.14	280/1	235.408.083,70	200.373.750,70
Participating interests		280	235.408.083,70	200.373.750,70
Amounts receivable		281		.
Other enterprises linked by participating interests	5.14	282/3	.	.
Participating interests		282		.
Amounts receivable		283
Other financial assets		284/8		.
Shares		284		.
Amounts receivable and cash guarantees		285/8	.	.
CURRENT ASSETS		29/58	17.973.839,41	19.811.960,17
Amounts receivable after more than one year		29	80.000,00	80.000,00
Trade debtors		290	.	.
Other amounts receivable		291	80.000,00	80.000,00
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	8.142.372,86	7.339.793,98
Trade debtors		40	7.426.544,70	7.229.317,50
Other amounts receivable		41	715.828,16	110.476,48
	5.5.1/
Current investments	5.6	50/53	9.561.978,51	11.181.403,91
Own shares		50	9.441.978,51	11.061.403,91
Other investments		51/53	120.000,00	120.000,00
Cash at bank and in hand		54/58	189.488,04	1.199.486,91
Deferred charges and accrued income	5.6	490/1	.	11.275,37
TOTAL ASSETS		20/58	266.852.988,11	235.153.560,87

Nr	BE 0401.030.860
----	-----------------

	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY		10/15	63.771.309,97	60.001.136,60
Capital	5.7	10	3.499.223,65	3.431.155,65
Issued capital		100	3.499.223.65	3.431.155,65
Uncalled capital		101		.
Share premium account		11	7.747.000,68	4.009.139,28
Revaluation surpluses		12		.
Reserves		13	52.525.085.64	52.560.841,67
Legal reserve		130	349.922,36	343.115,57
Reserves not available		131	9.513.505,53	11.132.930,93
In respect of own shares held		1310	9.441.978,51	11.061.403,91
Other		1311	71.527,02	71.527,02
Untaxed reserves		132	545.328,51	545.328,51
Available reserves		133	42.116.329,24	40.539.466,66
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	.	.
Other liabilities and charges	5.8	163/5		.
Deferred taxes		168		.
AMOUNTS PAYABLE		17/49	203.081.678,14	175.152.424,27
Amounts payable after more than one year	5.9	17	115.858.604,24	14.308.604,24
Financial debts		170/4	107.217.993.00	5.667.993.00
Subordinated loans		170	.	.
Unsubordinated debentures		171	.	.
Leasing and other similar obligations		172
Credit institutions		173	5.000.000,00
Other loans		174	102.217.993.00	5.667.993.00
Trade debts		175		.
Suppliers		1750
Bills of exchange payable		1751	.
Advances received on contracts in progress		176 178/9	8.640.611,24	. 8.640.611,24
Other amounts payable
Amounts payable within one year Current portion of amounts payable after more than one year		42/48	87.209.140,18	160.843.820,03
falling due within one year	5.9	42	43.450.000,00	8.831.755,00
Financial debts		43	28.288.624,68	139.036.055,53
Credit institutions		430/8		1.251.424,03
Other loans		439	28.288.624,68	137.784.631,50
Trade debts		44	6.540.946,64	3.479.142,03
Suppliers		440/4	6.540.946,64	3.479.142,03
Bills of exchange payable		441		.
Advances received on contracts in progress		46	.	.
Taxes, remuneration and social security	5.9	45	53.000,00	1.444.499,40
Taxes		450/3 454/9	53.000,00	1.444.499.40
Remuneration and social security		47/48	8.876.568,86	. 8.052.368,07
Other amounts payable
Accruals and deferred income	5.9	492/3	13.933,72	.
TOTAL LIABILITIES		10/49	266.852.988,11	235.153.560,87

INCOME STATEMENT

7.511.506,75 70/74 Operating income Turnover 5.10 70 Stocks of finished goods and work and contracts in progress: increase (decrease) (+)/(-) 71 Own work capitalised 72 7.511.506,75 Other operating income 5.10 74 4.225.976,28 60/64 Operating charges (+)/(-) Raw materials, consumables 60 Purchases 600/8 Stocks: decrease (increase) (+)/(-) 609 2.715.698,90 Services and other goods 61 Remuneration, social security costs and pensions (+)/(-) 5.10 62 Depreciation of and other amounts written off formation 1.496.785,00 expenses, intangible and tangible fixed assets 630 Amounts written off stocks, contracts in progress and trade debtors: Appropriations (write-backs) (+)/(-) 631/4 Provisions for liabilities and charges: Appropriations (uses (+)/(-) and write-backs) 5.10 635/7
	7.003.370,02
	153.792,02
	6.849.578,00
	3.242.605,86
	86.124,39
	86.124,39
	3.037.793,03
	70.977,07
	20.987,98
13.492,38 Other operating charges 5.10 640/8	26.723,39
Operating charges carried to assets as restructuring costs(-) 649
3.285.530,47 9901 Operating profit (loss) (+)/(-)	3.760.764,16
10.474.866,57 75 Financial income	135.754,00
10.096.676,58 Income from financial fixed assets 750
183.567,08 Income from current assets 751	29,25
194.622,91 Other financial income 5.11 752/9	135.724,75
4.727.371,99 5.11 65 Financial charges (+)/(-)	1.871.111,46
4.463.713,20 Debt charges 650	1.098.702,39
Amounts written off current assets except stocks, contracts
in progress and trade debtors: appropriations (write-backs)
(+)/(-) 651
263.658,79 Other financial charges (+)/(-) 652/9	772.409,07
9.033.025,05 9902 Gain (loss) on ordinary activities before taxes (+)/(-)	2.025.406,70

	Discl.	Codes	Period	Preceding period
Extraordinary income		76		24.259.733,85
Write-back of depreciation and of amounts written off
intangible and tangible fixed assets		760
Write-back of amounts written down financial fixed assets		761
Write-back of provisions for extraordinary liabilities and
charges		762
Capital gains on disposal of fixed assets		763		352.344,82
Other extraordinary income	5.11	764/9		23.907.389,03
Extraordinary charges (+)/(-) Extraordinary depreciation of and extraordinary amounts written off formation expenses, intangible and tangible fixed		66	390.621,00	6.179,72
assets		660
Amounts written off financial fixed assets Provisions for extraordinary liabilities and charges:		661
appropriations (uses) (+)/(-)		662
Capital losses on disposal of fixed assets		663
Other extraordinary charges Extraordinary charges carried to assets as restructuring	5.11	664/8	390.621,00	6.179,72
costs (-)		669
(+)/(-) Gain (loss) for the period before taxes		9903	8.642.404,05	26.278.960,83
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes (+)/(-)	5.12	67/77	-159.060,32	727.198,50
Taxes		670/3	136.799,14	727.198,50
Adjustment of income taxes and write-back of tax provisions		77	295.859,46
		9904	8.801.464,37	25.551.762,33
Gain (loss) of the period (+)/(-)
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Gain (loss) of the period available for appropriation (+)/(-)		9905	8.801.464,37	25.551.762,33

Nr.	BE 0401.030.860	F 4

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated (+)/(-)	9906	8.801.464,37	25.551.762,33
Gain (loss) of the period available for appropriation (+)/(-)	(9905)	8.801.464,37	25.551.762,33
Profit (loss) brought forward (+)/(-)	14P
Withdrawals from capital and reserves	791/2	42.562,82
from capital and share premium account	791
from reserves	792	42.562,82
Transfer to capital and reserves	691/2	6.806,79	17.661.260,93
to capital and share premium account	691
to legal reserve	6920	6.806,79	3.078,57
to other reserves	6921		17.658.182,36
Profit (loss) to be carried forward (+)/(-)	(14)
Owners' contribution in respect of losses	794
Profit to be distributed	694/6	8.837.220,40	7.890.501,40
Dividends	694	8.587.220,40	7.640.501,40
Directors' or managers' entitlements	695	250.000,00	250.000,00
Other beneficiaries	696

Nr.	BE 0401.030.860				F 5.2.2
			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
	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	1.496.785,00
	NET BOOK VALUE AT THE END OF THE PERIOD		211	13.471.065,00

Nr.	BE 0401.030.860	F 5.4.1

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	200.373.750,70
Movements during the period
Acquisitions	8361	35.034.333,00
Sales and disposals	8371
(+)/(-) Transfers from one heading to another	8381
Acquisition value at the end of the period	8391	235.408.083,70
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)	235.408.083,70
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

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Lotus Bakeries België BE 0421.694.038 Public limited company Gentstraat 52, 9971 Lembeke, Belgium				31/12/2012	EUR	27.389.362,00	2.648.221,00
ordinary shares	151.260	99,99	0,0
Cremers-Ribert BE 0427.808.008 Public limited company Gentstraat 52, 9971 Lembeke, Belgium				31/12/2012	EUR	13.938.153,00	490.551,00
ordinary shares	3.009.503	99,99	0,01
Interwaffles BE 0439.312.406 Public limited company Rue de Liège 39, 6180 Courcelles, Belgium				31/12/2012	EUR	7.920.245,00	1.446.843,00
ordinary shares	6.782	99,85	0,15
Lotus Bakeries Corporate BE 0881.664.870 Public limited company Gentstraat 52, 9971 Lembeke, Belgium ordinary shares	88.935	99,99	0,01	31/12/2012	EUR	106.282.088,00	6.684.815,00
Lotus Bakeries France SAS Place du Château BP91, 59560 Comines, France				31/12/2012	EUR	14.235.823,00	1.172.528,00
ordinary shares	43.434	100,0	0,0
Lotus Bakeries Nederland BV Oosterdijk 3E, 1601 DA Enkhuizen, Netherlands				31/12/2012	EUR	18.322.579,00	-1.792.632,00
ordinary shares	2.000	100,0	0,0
Lotus Bakeries GmBH Schumanstrasse 33, 52146 Würselen, Germany				31/12/2012	EUR	2.618.177,00	4.876,00
ordinary shares	10.000	100,0	0,0
Lotus Bakeries Réassurances SA Rue du Kiem 145, L-8030 Strassen, Luxembourg				31/12/2012	EUR	1.291.185,00	0,00
ordinary shares	4.995	99,9	0,1

Nr	BE 0401.030.860

LIST OF PARTICIPATING INTERESTS AND SHARES (Continued)

		Rights held by			Data extracted from the most recent annual accounts
NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian	directly		subsidiar ies	Annual	Cur-	Capital and reserve	Net result
law, the COMPANY IDENTIFICATION NUMBER	Number	$\%$	$\%$	accounts as per	rency code	$(+)$ of $(-)$ (in units)
Lotus Bakeries CZ sro Slezkà 844 box 96, 130 00 Praag 3, Czech Republic				31/12/2012	CZK	5.245.464,00	3.571.905,00
ordinary shares	100	100,0	0,0
Lotus Bakeries UK Itd 3000 Manchester Business Park, Aviator Way, M22 5TG Manchester, United Kingdom				31/12/2012	GBP	2.986.724,00	911.488,00
ordinary shares	5.599	99.99	0.01
Lopes Market SL Andres Alvarez Caballero 22-26, ES-28970 Humanes de Madrid, Spain				31/12/2012	EUR	237.277,00	297.821,00
ordinary shares	475	95.0	0.0
Annas - Lotus Bakeries Holding AB Foreign company Radiovägen 23, 135 48 Tyresö, Sweden				31/12/2012	SEK	54.642.318,00	$-642.000.00$
ordinary shares	1.001	100,0	0.0
Lotus Bakeries Asia Pasific Limited Foreign company Yun Ping Road - Caroline Centre Room 2302 - 23rd floor - Lee Gardens 28, , Hong Kong				31/12/2012	EUR	1.568.579,00	855.531,00
ordinary shares	100	100,0	0.0
Lotus Bakeries Schweiz AG Foreign company Baarerstrasse 135, 6301 Zug, Switzerland				31/12/2012	CHF	5.649.336,00	2.484.948,00
ordinary shares	200	100.0	0,0
Lotus Bakeries North America Foreign company Francisco Street, Suite 115 50, 94133 San Francisco California, United States				31/12/2012	USD	$-3.289.196.00$	-481.580,00
ordinary shares	1.000	100,0	0,0
Lotus Bakeries North America Calgary Foreign company L.M. Gordon LAW Office, 20th street 2213, TOL 1R0 Alberta, Canada				31/12/2012	CAD	1.199.637,00	1.189.384,00
ordinary shares	200	100,0	0.0
Lotus Bakeries Chile spa Foreign company La Capellania 1121 casa 2, 7690000 Lo Barnecha, Santiago, Chile				31/12/2012	CLP	-10.370.333,00	-26.356.819,00
ordinary shares	100	100,0	0,0
Lotus Bakeries Poland sp. z o.o. Foreign company Ul Fordonska 199, 85739 Bydgoszcz, Poland				31/12/2012	PLN	-228.594,00	$-828.594,00$
ordinary shares	10.000	100.0	0.0

1U	BE 0401.030.860		)
----	---------------------	--	---

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Biscuiterie Willems BE 0401.006.413 Private company with limited liability Nieuwendorpe 33 box C, 9900 Eeklo, Belgium ordinary shares	2.999	99,99	0,0	31/12/2012	EUR	11.400.472,00	1.940.834,00
B.W.I. BE 0898.518.522 Private company with limited liability Ambachtenstraat 5, 9900 Eeklo, Belgium				31/12/2012	EUR	1.229.856,00	400.393,00
ordinary shares	599	99,99	0,0

.030.860 0401 - Nr. PГ - DЕ ◡.◡.▵
---------------------------------------------------------

LIST OF ENTITIES IN WHICH THE ENTITY HAS AN UNLIMITED RESPONSIBILITY AS ASSOCIATE OR MEMBER

The annual accounts of any enterprise to which the enterprise is unlimited liable 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 company:

• A. will be published through a deposition in the National Bank of Belgium by this enterprise;
• B. will effectively be published by this enterprise in another member state of the EC pursuant to art. 3 of the directive 2009/101/EC will be published through a deposition in the National Bank of Belgium by this enterprise;
• 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. concern a partnership under civil law, a consortium or a silent partnership.

NAME, full address of the REGISTERED OFFICE 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 Schumanstrasse 33, 52146 Würselen, 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 Baarerstrasse 135, 6301 Zug, Switzerland	C
Lotus Bakeries North America Foreign company Francisco Street, Suite 115 50, 94133 San Francisco California, United States	C
Lotus Bakeries North America Calgary Foreign company L.M. Gordon LAW office, 20th Street 2213, TOL 1R0 Alberta, Canada	C

Nr. BE 0401.030.860	F 5.5.2
------------------------	---------

LIST OF ENTITIES IN WHICH THE ENTITY HAS AN UNLIMITED RESPONSIBILITY AS ASSOCIATE OR MEMBER (continued)

NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the COMPANY IDENTIFICATION NUMBER	Possible code
Lotus Bakeries Chile spa Foreign company La Capellania 1121 casa 2, 7690000 Lo Barnecha, Santiago, Chile	C
Lotus Bakeries Poland sp. z o.o. Foreign company Ul Fordonska 199, 85739 Bydgoszcz, Poland	C

OTHER INVESTMENTS AND DEPOSITS, ALLOCATION DEFERRED CHARGES AND ACCRUED INCOME

	Codes	Period	Preceding period
INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS
Shares	51	.	.
Book value increased with the uncalled amount	8681		.
Uncalled amount	8682		.
Fixed income securities	52	.	.
Fixed income securities issued by credit institutions	8684		.
Fixed term accounts with credit institutions With residual term or notice of withdrawal	53
up to one month	8686
between one month and one year	8687	.	.
over one year	8688	.	.
Other investments not mentioned above	8689	120.000.00	120.000.00

	Period
DEFERRED CHARGES AND ACCRUED INCOME
Allocation of heading 490/1 of assets if the amount is significant
.
.

Nr. BE 0401.030.860
------------------------

Period

Codes

$F$ 5.7

Preceding period

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

STATEMENT OF CAPITAL
Social capital
Issued capital at the end of the period	100P	XXXXXXXXXXXXXX		3.431.155,65
Issued capital at the end of the period	(100)	3.499.223,65
	Codes	Value		Number of shares
Changes during the period
capital increase		.	68.068,00	15.470
Structure of the capital		.
Different categories of shares
Ordinary shares		3.499.223,65		795.113
.		. .		. .
Registered shares	8702	XXXXXXXXXXXXX		1.019
Shares to bearer and/or dematerialized	8703	XXXXXXXXXXXXX		794.094
	Codes	Uncalled amount		Capital called but not paid
Capital not paid
Uncalled capital	(101)	.		XXXXXXXXXXXXX
Called up capital, unpaid	8712	XXXXXXXXXXXXX		.
Shareholders having yet to pay up in full		.
				.
		. .	. .
		.		.
			Codes	Period
Own shares
Held by the company itself
Amount of capital held			8721	108.034,28
Corresponding number of shares			8722	24.548
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
Owing to the exercise of subscription rights
Number of outstanding subscription rights			8745	20,900
Amount of capital to be subscribed			8746	91.979,10
Corresponding maximum number of shares to be issued			8747	50.000

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

8751

1.034.114,55

Nr.	BE 0401.030.860	F 5.7

	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

STRUCTURE OF SHAREHOLDINGS OF THE ENTERPRISE AT YEAR-END CLOSING DATE, AS IT APPEARS FROM THE STATEMENTS RECEIVED BY THE ENTERPRISE

See next page.

The shareholding structure of Lotus Bakeries NV as of 31 December 2013 is as follows:

	No. of voting rights % of voting rights
Stichting Administratiekantoor van Aandelen ٠ Lotus Bakeries $(^1)$ Lotus Bakeries NV $(^2)$ $\bullet$	446,378 24,548	56.14% 3.09%
Total held by Stichting Administratiekantoor van Aandelen Lotus Bakeries and Lotus Bakeries	470.926	59.23%
Christavest Comm.VA ( 3 ) $\bullet$ Publicly held ٠	63.046 261,141	7.93% 32.84%
Total	759,113	100.00%

$(1)$ 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*. Lotus Bakeries NV has no knowledge of any change in the above-mentioned interest.

$(2)$ 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.

• $(3)$ Christavest Comm. VA is 82.82% controlled by Holding Biloba BVBA, which in turn has no controlling shareholder. Mr. Stanislas Boone and Mrs. Christiane De Nie are the statutory business managers of Christavest Comm.VA. The interest of Christavest Comm.VA in Lotus Bakeries NV appears in the transparency notification that Lotus Bakeries NV received on 30 April 2010*.
• $(*)$ As applied by article 6 of the Law of 2 May 2007 on disclosure of mayor 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	8801	43.450.000,00
Financial debts ………………………………………………………………………………………………	8811
Subordinated loans	8821	.
Unsubordinated debentures	8831	.
Leasing and other similar obligations	8841
Credit institutions	8851	10.000.000,00
Other loans ………………………………………………………………………………………………		33.450.000,00
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)	43.450.000,00
Amounts payable with a remaining term of more than one but not more than five years
Financial debts	8802	107.217.993,00
Subordinated loans	8812	.
Unsubordinated debentures	8822
Leasing and other similar obligations	8832
Credit institutions	8842	5.000.000,00
Other loans	8852	102.217.993,00
Trade debts	8862	.
Suppliers	8872	.
Bills of exchange payable	8882	.
Advance payments received on contracts in progress	8892
Other amounts payable	8902	8.640.611,24
Total amounts payable with a remaining term of more than one but not more than five years	8912	115.858.604,24
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	.
Total amounts payable with a remaining term of more than five years multimerally remain manner.	8913	.

$F5.9$

Nr. BE 0401.030.860		F 5.9
	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 Amounts payable guaranteed by real securities or irrevocably promised by the enterprise on its own assets	9061
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
Estimated taxes payable	450	53.000.00
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

$F5.9$

BE 0401.030.860 Nr.
	Period
ACCRUALS AND DEFERRED INCOME
Allocation of heading 492/3 of liabilities if the amount is significant
.
.	.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, .

	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 entreprise 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	.	1,0
Number of actual worked hours	9088		1.864
Personnel costs Remuneration and direct social benefits	620		61.844,75
Employers' contribution for social security	621	.	8.996,66
Employers' premiums for extra statutory insurance	622	.	135,66
Other personnel costs	623		.
Retirement and survivors' pensions	624		.
Provisions for pensions and other similar rights
Appropriations (uses and write-backs)	635	.
Amounts written off
Stocks and contracts in progress
Recorded	9110	.	20.987,98
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	13.492,38	26.723,39
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 AND EXTRAORDINARY RESULTS

	Codes	Period	Preceding period
FINANCIAL RESULTS
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		161.764,10	0.00
Positive foreign currency translation adjustment		0.00	0,00
Financial rebate		0.00	0.00
Payment differences		133,81	0,00
Hedging		32.725.00	135.724,75
Depreciation of loan issue expenses and reimbursement premiums	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
Adverse exchange rate differences		0.00	22,15
Payment differences		4.350,56	0,00
Bank costs		28.286,33	1.124,87
Hedging costs		173.045,70	768.664.67
Negative foreign currency translation adjustment (+)/(-)		0.00	0.00
Capital loss on disposal of current assets		57.976.00	2.127,00

	Period
EXTRAORDINARY RESULTS
Allocation of other extraordinary income
Allocation of other extraordinary charges
restructuring expenses	390.621,00
.

$F$ 5.11

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134
Income taxes paid and withholding taxes due or paid	9135
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136
Estimated additional taxes	9137
Income taxes on the result of prior periods	9138	136.799,14
Additional income taxes due or paid	9139	136.799,14
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 (+)/(-)		-161.097,63
(+)/(-) Untaxes loss value		57.976,00
Disallowed expenses (+)/(-)		7.661,05
(+)/(-) Dividend received deduction (DRD)		-8.753.186,73

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

	Codes	Period
Status of deferred taxes Deferred taxes representing assets	9141	838.656,02
Accumulated tax losses deductible from future taxable profits Other deferred taxes representing assets	9142
DRD to be transfered		838.656,02
Deferred taxes representing liabilities Allocation of deferred taxes representing liabilities	9144

	Codes	Period	Preceding period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	393.619,46	169.382,00
By the enterprise	9146	2.638,52	5.492,84
Amounts withheld on behalf of third party
For payroll withholding taxes	9147
For withholding taxes on investment income	9148	1.249.426,50	1.135.458,90

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	235.408.083,70	200.373.750,70
Participating interests	(280)	235.408.083,70	200.373.750,70
Subordinated amounts receivable	9271		.
Other amounts receivable	9281
Amounts receivable from affiliated enterprises	9291	7.940.428,99	7.196.047,00
Over one year	9301		.
Within one year	9311	7.940.428,99	7.196.047.00
Current investments	9321		.
Shares	9331		.
Amounts receivable	9341		.
Amounts payable	9351	178.284.494,72	156.502.648,37
Over one year	9361	110.858.604,24	14.308.604,24
Within one year	9371	67.425.890,48	142.194.044,13
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	10.096.676.58	.
Income from current assets	9431		.
Other financial income	9441		.
	9461	4.268.045,80	841.708.11
Debt charges	9471
Other financial charges
Disposal of fixed assets Capital gains obtained	9481		352.344,82
Capital losses suffered	9491	.	.
ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	(282/3)
Participating interests	(282)	.	.
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
			Period
		TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS
	understanding of the situation of the company	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

Nr.	BE 0401.030.860			F 5.15
-----	-----------------	--	--	--------	--

FINANCIAL RELATIONSHIPS WITH

	Codes	Period
DIRECTORS, MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS
Amounts receivable from these persons	9500
Conditions on amounts receivable
Guarantees provided in their favour	9501
Main conditions of these guarantees
Other significant commitments undertaken in their favour	9502
Main conditions of the other commitments
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

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO
Auditor's fees	9505	63.533,00
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	95061 95062 95063	5.485,00
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082
Other missions external to the audit	95083	99.019,00

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

DERIVATIVES NOT MEASURED AT FAIR VALUE

FAIR VALUE OF FINANCIAL DERIVATIVES NOT MEASURED AT FAIR VALUE WITH INDICATION ABOUT THE NATURE AND THE VOLUME OF THE INSTRUMENTS
intrest rate hedging ……………………………………………………………………………………………	-56.759.00

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

SOCIAL BALANCE SHEET

Number of joint industrial committee:

STATEMENT OF THE PERSONS EMPLOYED

EMPLOYEES FOR WHOM THE ENTREPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER

During the current period	Codes	Total	Men $1_{-}$	Women 2 1
Average number of employees
Full-time	1001
Part-time	1002		.
Total in full-time equivalents	1003			.
Number of hours actually worked
Full-time	1011
Part-time	1012
Total	1013		.	.
Personnel costs
Full-time	1021			.
Part-time	1022
Total	1023			.
Advantages in addition to wages	1033

During the preceding period	Codes	Total	1P. Men	Women 2P
Average number of employees in FTE	1003	1.0	1.0
Number of hours actually worked	1013	1.864	1.864
Personnel costs	1023	70.977.07	70.977.07
Advantages in addition to wages	1033	.		.

$F6$

$\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\$

EMPLOYEES FOR WHOM THE ENTREPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER (continued)

At the closing date of the period	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees	105	.
By nature of the employment contract
Contract for an indefinite period	110	.		.
Contract for a definite period	111	.	.	.
Contract for the execution of a specifically assigned work	112	.		.
Replacement contract	113	.	.	.
According to gender and study level
Men	120	.		.
primary education	1200	.		.
secondary education	1201	.		.
higher non-university education	1202	.		.
university education	1203	.		.
Women	121	.		.
primary education	1210	.		.
secondary education	1211	.		.
higher non-university education	1212	.		.
university education	1213	.	.	.
By professional category
Management staff	130	.		.
Employees	134	.	.	.
Workers	132	.		.
Others	133	.		.

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE ENTERPRISE'S DISPOSAL

During the period	Codes	Hired temporary staff	Persons placed 2. at the enterprise's disposal
Average number of persons employed	150		.
Number of hours actually worked	151
Costs for the enterprise	152		.

*** checksum: 17907287 *** First - F2014 - 32 / 36

LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

ENTRIES	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees for whom the entreprise submitted a DIMONA declaration or who have been recorded in the general personnel register during the financial year	205
By nature of employment contract
Contract for an indefinite period	210
Contract for a definite period	211
Contract for the execution of a specifically assigned work	212
Replacement contract	213

DEPARTURES	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees whose contract-termination date has been entered in DIMONA declaration or in the general personnel register during the financial year	305
By nature of employment contract
Contract for an indefinite period	310
Contract for a definite period	311
Contract for the execution of a specifically assigned work	312
Replacement contract	313
By reason of termination of contract
Retirement	340
Unemployment with extra allowance from enterprise	341
Dismissal	342
Other reason	343
the number of persons who continue to render services to the enterprise at least half-time on a self-employed basis	350

*** checksum: 17907287 *** First - F2014 - 33 / 36

Nr.	BE 0401.030.860	F 6

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

	Codes	Men	Codes	Women
Total of initiatives of formal professional training at the expense of the employer
Number of employees involved	5801		5811
Number of actual training hours	5802		5812
Net costs for the enterprise	5803		5813
of which gross costs directly linked to training	58031		58131
of which fees paid and paiments to collective funds	58032		58132
of which grants and other financial advantages received (to deduct)	58033		58133
Total of initiatives of less formal or informal professional training at the expense of the employer
Number of employees involved	5821		5831
Number of actual training hours	5822		5832
Net costs for the enterprise	5823		5833
Total of initiatives of initial professional training at the expense of the employer
Number of employees involved	5841		5851
Number of actual training hours	5842		5852
Net costs for the enterprise	5843		5853

VALUATION RULES

ACCOUNTING PRINCIPLES

1. Assets

1.1 Formation expenses

Formation expenses have been 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.

1. Liabilities

2.1 Provisions for liabilities and charges

Nr. BE 0401.030.860	F 7
------------------------	-----

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

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