40 NAT.	Date of deposit	Nr.	1 E.	EUR D.			F 1.1
	ANNUAL ACCOUNTS IN EUROS (2 decimals)
	Lotus Bakeries NAME:

	Public limited company Legal form:
	GENTSTRAAT Address: Nr.: Box:					52
	9971 Postal code:	Lembeke Municipality:
	Belgium Country:
	Register of legal persons - commercial court:		Gent
Website* :
				Company number		BE 0401.030.860
DATE	17 10 2012 / / the date of publication of the memorandum of association and of the act amending the articles of association.	of deposit of the memorandum of association OR of the most recent document mentioning
	ANNUAL ACCOUNTS approved by the general meeting of			14	05 2013 / /
		regarding the period from	01 01 /	2012 /	to	31 12 / /	2012
		Preceding period from	01 01 /	2011 /	to	31 12 / /	2011
	The amounts for the preceding period are / are not** identical to the ones previously published.	XXXXX
	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 13/05/2011 - 14/05/2013
	Represented by:
	Matthieu Boone	Beukenlaan 2, 9971 Lembeke, Belgium
	CofigoMM BVBA Nr.: BE 0467.946.212	Cumontstraat 13, 9300 Aalst, Belgium			Managing director	13/05/2011 - 14/05/2013
	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	13/05/2011 - 14/05/2013

Are attached to these annual accounts:

	53 Total number of pages deposited: Numbers of sections of the standard form not deposited because they serve no useful
	purpose:

Signature (name and position)

^* Optional information.

^** Strike out what is not applicable.

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
Represented by:
Johan Boone	Nieuwstraat 25, 1745 Opwijk, Belgium
Anton Stevens	Notaxlaan 30, 9070 Destelbergen, Belgium	Director - 14/05/2013
Herman Van de Velde NV Nr.: BE 0460.768.212	Dendermondsesteenweg 90, 9230 Wetteren, Belgium	Director - 14/05/2013
Represented by:
Herman Van de Velde	Dendermondsesteenweg 90, 9230 Wetteren, Belgium
Dominique Leroy	Gaaistraat 27 A, 1170 Watermael-Boitsfort, Belgium	Director 08/05/2009 - 14/05/2013
Benoit Graulich BVBA Nr.: BE 0472.527.877	Meiskensbeekstraat 33, 1851 Humbeek, Belgium	Director 08/05/2009 - 14/05/2013
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 18/05/2010 - 14/05/2013
Represented by:
Lieven Adams Membership nr.: A01210	Woluwedal 18, 1932 Sint-Stevens-Woluwe, 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 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: 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	215.341.600,70	48.238.844,35
Formation expenses	5.1	20
Intangible fixed assets	5.2	21	14.967.850,00	209.851,83
Tangible fixed assets	5.3	22/27		17.506.633,07
Land and buildings		22		3.952.699,87
Plant, machinery and equipment		23		3.463.978,20
Furniture and vehicles		24		205.435,45
Leasing and similar rights		25
Other tangible fixed assets		26
Assets under construction and advance payments	5.4/	27		9.884.519,55
Financial fixed assets	5.5.1	28	200.373.750,70	30.522.359,45
Affiliated enterprises	5.14	280/1	200.373.750,70	30.433.313,96
Participating interests		280	200.373.750,70	2.642.405,96
Amounts receivable		281		27.790.908,00
Other enterprises linked by participating interests	5.14	282/3
Participating interests		282
Amounts receivable		283
Other financial assets		284/8		89.045,49
Shares		284		32.850,84
Amounts receivable and cash guarantees		285/8		56.194,65
CURRENT ASSETS		29/58	19.811.960,17	57.852.305,70
		29	80.000,00	80.000,00
Amounts receivable after more than one year Trade debtors		290
Other amounts receivable		291	80.000,00	80.000,00
Stocks and contracts in progress		3		4.715.381,25
Stocks		30/36		4.715.381,25
Raw materials and consumables		30/31		2.699.772,44
Work in progress		32		65.058,92
Finished goods		33		1.119.071,35
Goods purchased for resale		34		831.478,54
Immovable property intended for sale		35
Advance payments		36
Contracts in progress		37
Amounts receivable within one year		40/41	7.339.793,98	18.345.274,34
Trade debtors		40	7.229.317,50	17.134.706,44
Other amounts receivable		41	110.476,48	1.210.567,90
	5.5.1/
Current investments	5.6	50/53	11.181.403,91	120.000,00
Own shares		50	11.061.403,91
Other investments		51/53	120.000,00	120.000,00
Cash at bank and in hand		54/58	1.199.486,91	34.420.202,03
Deferred charges and accrued income	5.6	490/1	11.275,37	171.448,08
TOTAL ASSETS		20/58	235.153.560,87	106.091.150,05

	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
		10/15	60.001.136,60
EQUITY				40.565.774,13
Capital	5.7	10	3.431.155.65	3.400.003,65
Issued capital		100	3.431.155,65	3.400.003,65
Uncalled capital		101	.
Share premium account		11	4.009.139,28	2.298.469,68
Revaluation surpluses		12
Reserves		13	52.560.841,67	34.867.300.80
Legal reserve		130	343.115,57	340.037,00
Reserves not available		131	11.132.930,93	71.527,02
In respect of own shares held		1310	11.061.403,91
Other		1311	71.527,02	71.527,02
Untaxed reserves		132	545.328,51	1.218.913,40
Available reserves		133	40.539.466,66	33.236.823,38
Accumulated profits (losses)		14		.
Investment grants		15		.
Advance to associates on the sharing out of the assets		19		.
PROVISIONS AND DEFERRED TAXES		16		1.702.115,82
Provisions for liabilities and charges		160/5	.	1.602.325.61
Pensions and similar obligations		160	.	161.539,89
Taxation		161		.
Major repairs and maintenance		162		1.212.200,00
Other liabilities and charges	5.8	163/5		228.585,72
Deferred taxes		168		99.790,21
AMOUNTS PAYABLE		17/49	175.152.424,27	63.823.260,10
	5.9	17	14.308.604,24	6.631.819,00
Amounts payable after more than one year Financial debts		170/4	5.667.993,00	6.631.819,00
Subordinated loans		170
Unsubordinated debentures		171		.
Leasing and other similar obligations		172
Credit institutions		173		6.631.819.00
Other loans		174	5.667.993,00	.
Trade debts		175		.
Suppliers		1750	.
Bills of exchange payable		1751
Advances received on contracts in progress		176	.	.
Other amounts payable		178/9	8.640.611,24	.
Amounts payable within one year		42/48	160.843.820,03	56.658.392,45
Current portion of amounts payable after more than one year
falling due within one year	5.9	42	8.831.755,00	11.270.223,45
Financial debts		43	139.036.055,53 1.251.424,03	32.814,10 22.863,42
Credit institutions		430/8 439	137.784.631,50	9.950,68
Other loans Trade debts		44	3.479.142,03	31.311.972,37
Suppliers		440/4	3.479.142,03	31.311.972,37
Bills of exchange payable		441	.
Advances received on contracts in progress		46
Taxes, remuneration and social security	5.9	45	1.444.499,40	6.169.954,89
Taxes		450/3	1.444.499,40	2.379.476,33
Remuneration and social security		454/9		3.790.478,56
Other amounts payable		47/48	8.052.368,07	7.873.427,64
Accruals and deferred income	5.9	492/3		533.048,65
TOTAL LIABILITIES		10/49	235.153.560.87	106.091.150.05

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income		70/74	7.003.370,02	154.463.977,66
Turnover	5.10	70	153.792,02	148.475.790,34
Stocks of finished goods and work and contracts in progress:
increase (decrease) (+)/(-)		71		945.547,56
Own work capitalised		72		36.788,43
Other operating income	5.10	74	6.849.578,00	5.005.851,33
Operating charges (+)/(-)		60/64	3.242.605,86	141.435.416,77
Raw materials, consumables		60	86.124,39	77.253.969,93
Purchases		600/8	86.124,39	77.896.776,48
Stocks: decrease (increase) (+)/(-)		609		-642.806,55
Services and other goods		61	3.037.793,03	38.502.141,34
Remuneration, social security costs and pensions (+)/(-) Depreciation of and other amounts written off formation	5.10	62	70.977,07	21.492.532,12
expenses, intangible and tangible fixed assets Amounts written off stocks, contracts in progress and trade		630		3.393.095,31
debtors: Appropriations (write-backs) (+)/(-) Provisions for liabilities and charges: Appropriations (uses		631/4	20.987,98	384.507,93
(+)/(-) and write-backs)	5.10	635/7		-7.609,92
Other operating charges	5.10	640/8	26.723,39	416.780,06
Operating charges carried to assets as restructuring costs(-)		649
Operating profit (loss) (+)/(-)		9901	3.760.764,16	13.028.560,89
Financial income		75	135.754,00	2.070.896,21
Income from financial fixed assets		750		777.976,45
Income from current assets		751	29,25	261.345,32
Other financial income	5.11	752/9	135.724,75	1.031.574,44
Financial charges (+)/(-)	5.11	65	1.871.111,46	2.925.499,54
Debt charges		650	1.098.702,39	509.858,95
Amounts written off current assets except stocks, contracts in progress and trade debtors: appropriations (write-backs)
(+)/(-)		651
Other financial charges (+)/(-)		652/9	772.409,07	2.415.640,59
Gain (loss) on ordinary activities before taxes (+)/(-)		9902	2.025.406,70	12.173.957,56

BE 0401.030.860					F 3
		Discl.	Codes	Period	Preceding period
Extraordinary income			76	24.259.733,85	33.792,64
Write-back of depreciation and of amounts written off intangible and tangible fixed assets Write-back of amounts written down financial fixed assets			760 761
Write-back of provisions for extraordinary liabilities and charges			762
Capital gains on disposal of fixed assets			763	352.344,82	33.792,64
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	6.179,72	23.616,67
assets			660
Amounts written off financial fixed assets			661
Provisions for extraordinary liabilities and charges: appropriations (uses) (+)/(-)			662
Capital losses on disposal of fixed assets			663		23.616,67
Other extraordinary charges Extraordinary charges carried to assets as restructuring		5.11	664/8	6.179,72
costs (-)			669
Gain (loss) for the period before taxes	(+)/(-)		9903	26.278.960,83	12.184.133,53
Transfer from deferred taxes			780		13.742,78
Transfer to deferred taxes			680		11.318,70
Income taxes (+)/(-) Income taxes Adjustment of income taxes and write-back of tax provisions		5.12	67/77 670/3 77	727.198,50 727.198,50	3.533.693,00 3.533.693,00
Gain (loss) of the period (+)/(-)			9904	25.551.762,33	8.652.864,61
Transfer from untaxed reserves			789		26.458,54
Transfer to untaxed reserves			689		171.981,38
Gain (loss) of the period available for appropriation (+)/(-)			9905	25.551.762,33	8.507.341,77

Nr.	BE 0401.030.860	F 4

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated (+)/(-)	9906	25.551.762,33	8.507.341,77
Gain (loss) of the period available for appropriation (+)/(-) Profit (loss) brought forward (+)/(-)	(9905) 14P	25.551.762,33	8.507.341,77
Withdrawals from capital and reserves	791/2
from capital and share premium account	791
from reserves	792
Transfer to capital and reserves	691/2	17.661.260,93	995.249,57
to capital and share premium account	691
to legal reserve	6920	3.078,57
to other reserves	6921	17.658.182,36	995.249,57
Profit (loss) to be carried forward (+)/(-)	(14)
Owners' contribution in respect of losses	794
Profit to be distributed	694/6	7.890.501,40	7.512.092,20
Dividends	694	7.640.501,40	7.262.092,20
Directors' or managers' entitlements	695	250.000,00	250.000,00
Other beneficiaries	696

EXPLANATORY DISCLOSURES

STATEMENT OF FORMATION EXPENSES

	Codes	Period
Net book value at the end of the period	20P	xxxxxxxxxxxxxxx
Movements during the period
New expenses incurred	8002
Depreciation	8003
Other (+)/(-)	8004
Net book value at the end of the period	(20)
Of which
Formation or capital increase expenses, loan issue expenses and other
formation expenses	200/2
Restructuring costs	204

STATEMENT OF INTANGIBLE FIXED ASSETS

	Codes	Period	Preceding period
RESEARCH AND DEVELOPMENT COSTS
Acquisition value at the end of the period	8051P	xxxxxxxxxxxxxxx	12.642,57
Movements during the period
Acquisitions, including produced fixed assets	8021
Sales and disposals	8031	12.642,57
(+)/(-) Transfers from one heading to another	8041
Acquisition value at the end of the period	8051
Depreciations and amounts written down at the end of the period	8121P	xxxxxxxxxxxxxxx	12.642,57
Movements during the period
Recorded	8071
Written back	8081
Acquisitions from third parties	8091
Cancelled owing to sales and disposals	8101	12.642,57
Transferred from one heading to another (+)/(-)	8111
Depreciations and amounts written down at the end of the period	8121
NET BOOK VALUE AT THE END OF THE PERIOD	210

	Codes	Period	Preceding period
CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx	3.561.489,36
Movements during the period
Acquisitions, including produced fixed assets	8022	14.967.850,00
Sales and disposals	8032	3.561.489,36
(+)/(-) 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	3.351.637,53
Movements during the period
Recorded	8072
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102	3.351.637,53
Transferred from one heading to another (+)/(-)	8112
Depreciations and amounts written down at the end of the period	8122
NET BOOK VALUE AT THE END OF THE PERIOD	211	14.967.850,00

Nr. BE 0401.030.860 F 5.2.2

Nr. BE 0401.030.860				F 5.2.3
		Codes	Period	Preceding period
GOODWILL
	Acquisition value at the end of the period	8053P	xxxxxxxxxxxxxxx	7.775.436,53
Movements during the period
	Acquisitions, including produced fixed assets	8023
	Sales and disposals	8033	7.775.436,53
(+)/(-) Transfers from one heading to another		8043
	Acquisition value at the end of the period	8053
	Depreciations and amounts written down at the end of the period	8123P	xxxxxxxxxxxxxxx	7.775.436,53
Movements during the period
	Recorded	8073
	Written back	8083
	Acquisitions from third parties	8093
	Cancelled owing to sales and disposals	8103	7.775.436,53
	Transferred from one heading to another (+)/(-)	8113
	Depreciations and amounts written down at the end of the period	8123
	NET BOOK VALUE AT THE END OF THE PERIOD	212

Nr. BE 0401.030.860				F 5.2.4
		Codes	Period	Preceding period
ADVANCE PAYMENTS
Acquisition value at the end of the period		8054P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets		8024
Sales and disposals		8034
Transfers from one heading to another	(+)/(-)	8044
Acquisition value at the end of the period		8054
Depreciations and amounts written down at the end of the period		8124P	xxxxxxxxxxxxxxx
Movements during the period
Recorded		8074
Written back		8084
Acquisitions from third parties		8094
Cancelled owing to sales and disposals		8104
Transferred from one heading to another (+)/(-)		8114
Depreciations and amounts written down at the end of the period		8124
NET BOOK VALUE AT THE END OF THE PERIOD		213

STATEMENT OF TANGIBLE FIXED ASSETS

	Codes	Period	Preceding period
LAND AND BUILDINGS
Acquisition value at the end of the period	8191P	xxxxxxxxxxxxxxx	14.158.197,77
Movements during the period
Acquisitions, including produced fixed assets	8161
Sales and disposals	8171	14.158.197,77
(+)/(-) Transfers from one heading to another	8181
Acquisition value at the end of the period	8191
Revaluation surpluses at the end of the period	8251P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8211
Acquisitions from third parties	8221
Cancelled	8231
Transferred from one heading to another (+)/(-)	8241
Revaluation surpluses at the end of the period	8251
Depreciations and amounts written down at the end of the period	8321P	xxxxxxxxxxxxxxx	10.205.497,90
Movements during the period
Recorded	8271
Written back	8281
Acquisitions from third parties	8291
Cancelled owing to sales and disposals	8301	10.205.497,90
Transferred from one heading to another (+)/(-)	8311
Depreciations and amounts written down at the end of the period	8321
NET BOOK VALUE AT THE END OF THE PERIOD	(22)

Nr. BE 0401.030.860				F 5.3.2
		Codes	Period	Preceding period
PLANT, MACHINERY AND EQUIPMENT
	Acquisition value at the end of the period	8192P	xxxxxxxxxxxxxxx	69.111.416,70
Movements during the period
	Acquisitions, including produced fixed assets	8162
	Sales and disposals	8172	69.111.416,70
Transfers from one heading to another	(+)/(-)	8182
Acquisition value at the end of the period
	Revaluation surpluses at the end of the period	8252P	xxxxxxxxxxxxxxx
Movements during the period
	Recorded	8212
	Acquisitions from third parties	8222
	Cancelled	8232
	Transferred from one heading to another (+)/(-)	8242
	Revaluation surpluses at the end of the period	8252
	Depreciations and amounts written down at the end of the period	8322P	xxxxxxxxxxxxxxx	65.647.438,50
Movements during the period
	Recorded	8272
	Written back	8282
	Acquisitions from third parties	8292
	Cancelled owing to sales and disposals	8302	65.647.438,50
	Transferred from one heading to another (+)/(-)	8312
	Depreciations and amounts written down at the end of the period	8322
	NET BOOK VALUE AT THE END OF THE PERIOD	(23)

Nr.	BE 0401.030.860				F 5.3.3
			Codes	Period	Preceding period
	FURNITURE AND VEHICLES
	Acquisition value at the end of the period		8193P	xxxxxxxxxxxxxxx	7.518.357,82
	Movements during the period
	Acquisitions, including produced fixed assets		8163
	Sales and disposals		8173	7.518.357,82
	Transfers from one heading to another	(+)/(-)	8183
	8193 Acquisition value at the end of the period
Revaluation surpluses at the end of the period				xxxxxxxxxxxxxxx
	Movements during the period
	Recorded		8213
	Acquisitions from third parties		8223
	Cancelled		8233
	Transferred from one heading to another (+)/(-)		8243
	Revaluation surpluses at the end of the period		8253
	Depreciations and amounts written down at the end of the period		8323P	xxxxxxxxxxxxxxx	7.312.922,37
	Movements during the period
	Recorded		8273
	Written back		8283
	Acquisitions from third parties		8293
	Cancelled owing to sales and disposals		8303	7.312.922,37
	Transferred from one heading to another (+)/(-)		8313
	Depreciations and amounts written down at the end of the period		8323
	NET BOOK VALUE AT THE END OF THE PERIOD		(24)

	Codes	Period
LEASING AND SIMILAR RIGHTS
Acquisition value at the end of the period	8194P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8164
Sales and disposals	8174
(+)/(-) Transfers from one heading to another	8184
Acquisition value at the end of the period	8194
Revaluation surpluses at the end of the period	8254P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8214
Acquisitions from third parties	8224
Cancelled	8234
Transferred from one heading to another (+)/(-)	8244
Revaluation surpluses at the end of the period	8254
Depreciations and amounts written down at the end of the period	8324P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8274
Written back	8284
Acquisitions from third parties	8294
Cancelled owing to sales and disposals	8304
Transferred from one heading to another (+)/(-)	8314
Depreciations and amounts written down at the end of the period	8324
NET BOOK VALUE AT THE END OF THE PERIOD	(25)
OF WHICH
Land and buildings	250
Plant, machinery and equipment	251
Furniture and vehicles	252

BE 0401.030.860				F 5.3.5
		Codes	Period	Preceding period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period		8195P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets		8165
Sales and disposals		8175
Transfers from one heading to another	(+)/(-)	8185
Acquisition value at the end of the period		8195
Revaluation surpluses at the end of the period		8255P	xxxxxxxxxxxxxxx
Movements during the period
Recorded		8215
Acquisitions from third parties		8225
Cancelled		8235
Transferred from one heading to another (+)/(-)		8245
Revaluation surpluses at the end of the period		8255
Depreciations and amounts written down at the end of the period		8325P	xxxxxxxxxxxxxxx
Movements during the period
Recorded		8275
Written back		8285
Acquisitions from third parties		8295
Cancelled owing to sales and disposals		8305
Transferred from one heading to another (+)/(-)		8315
Depreciations and amounts written down at the end of the period		8325
NET BOOK VALUE AT THE END OF THE PERIOD		(26)

	Codes	Period	Preceding period
ASSETS UNDER CONSTRUCTION AND ADVANCE PAYMENTS
Acquisition value at the end of the period	8196P	xxxxxxxxxxxxxxx	9.884.519,55
Movements during the period
Acquisitions, including produced fixed assets	8166
Sales and disposals	8176	9.884.519,55
(+)/(-) Transfers from one heading to another	8186
Acquisition value at the end of the period	8196
Revaluation surpluses at the end of the period	8256P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8216
Acquisitions from third parties	8226
Cancelled	8236
Transferred from one heading to another (+)/(-)	8246
Revaluation surpluses at the end of the period	8256
Depreciations and amounts written down at the end of the period	8326P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8276
Written back	8286
Acquisitions from third parties	8296
Cancelled owing to sales and disposals	8306
Transferred from one heading to another (+)/(-)	8316
Depreciations and amounts written down at the end of the period	8326
NET BOOK VALUE AT THE END OF THE PERIOD	(27)

Nr

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	2.642.405,96
Movements during the period
Acquisitions	8361	198.215.750,70
Sales and disposals	8371	484.405,96
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	200.373.750,70
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)	200.373.750,70
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	xxxxxxxxxxxxxxx	27.790.908,00
Movements during the period
Additions	8581
Repayments	8591
Amounts written down	8601
Amounts written back	8611
(+)/(-) Exchange differences	8621
(+)/(-) Other movements	8631	-27.790.908,00
NET BOOK VALUE AT THE END OF THE PERIOD	(281)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8651

Nr.	BE 0401.030.860				F 5.4.2
			Codes	Period	Preceding period

	ENTERPRISES LINKED BY A PARTICIPATING INTEREST - PARTICIPATING INTERESTS AND SHARES
	Acquisition value at the end of the period		8392P	xxxxxxxxxxxxxxx
	Movements during the period
	Acquisitions		8362
	Sales and disposals		8372
	Transfers from one heading to another	(+)/(-)	8382
	Acquisition value at the end of the period		8392
	Revaluation surpluses at the end of the period		8452P	xxxxxxxxxxxxxxx
	Movements during the period
	Recorded		8412
	Acquisitions from third parties		8422
	Cancelled		8432
	Transferred from one heading to another (+)/(-)		8442
	Revaluation surpluses at the end of the period		8452
	Amounts written down at the end of the period		8522P	xxxxxxxxxxxxxxx
	Movements during the period
	Recorded		8472
	Written back		8482
	Acquisitions from third parties		8492
	Cancelled owing to sales and disposals		8502
	Transferred from one heading to another (+)/(-)		8512
	Amounts written down at the end of the period		8522
	Uncalled amounts at the end of the period		8552P	xxxxxxxxxxxxxxx
	Movements during the period	(+)/(-)	8542
	Uncalled amounts at the end of the period		8552
	NET BOOK VALUE AT THE END OF THE PERIOD		(282)
RECEIVABLE	ENTERPRISES LINKED BY A PARTICIPATING INTEREST - AMOUNTS
	NET BOOK VALUE AT THE END OF THE PERIOD		283P	xxxxxxxxxxxxxxx
	Movements during the period Additions		8582
	Repayments		8592
	Amounts written down		8602
	Amounts written back		8612
	Exchange differences	(+)/(-)	8622
	Other movements	(+)/(-)	8632

	NET BOOK VALUE AT THE END OF THE PERIOD		(283)

ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF

THE PERIOD ......................................................................................................... 8652 ........................

	Codes	Period	Preceding period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxxxxx	70.034,87
Movements during the period
Acquisitions	8363
Sales and disposals	8373	70.034,87
(+)/(-) Transfers from one heading to another	8383
Acquisition value at the end of the period	8393
Revaluation surpluses at the end of the period	8453P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transferred from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transferred from one heading to another (+)/(-)	8513
Amounts written down at the end of the period	8523
Uncalled amounts at the end of the period	8553P	xxxxxxxxxxxxxxx	37.184,03
(+)/(-) Movements during the period	8543	-37.184,03
Uncalled amounts at the end of the period	8553
NET BOOK VALUE AT THE END OF THE PERIOD	(284)
OTHERS ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	285/8P	xxxxxxxxxxxxxxx	56.194,65
Movements during the period
Additions	8583
Repayments	8593
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
Other movements (+)/(-)	8633	-56.194,65
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF
THE PERIOD	8653

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES

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

	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 België BE 0421.694.038 Public limited company Gentstraat 52, 9971 Lembeke, Belgium				31/12/2011	EUR	1.627.380,00	275.273,00
Cremers-Ribert BE 0427.808.008 Public limited company Gentstraat 52, 9971 Lembeke, Belgium	151.261 3.009.503	100,0 99,99	0,0 0,01	31/12/2011	EUR	13.447.602,00	1.229.767,00
Interwaffles BE 0439.312.406 Public limited company Rue de Liège 39, 6180 Courcelles, Belgium	6.782	99,85	0,15	31/12/2011	EUR	6.774.766,00	2.062.583,00
Lotus Bakeries Corporate BE 0881.664.870 Public limited company Gentstraat 52, 9971 Lembeke, Belgium	88.935	99,99	0,01	31/12/2011	EUR	84.025.232,00	3.802.888,00
Lotus Bakeries France SAS Place du Château BP91, 59560 Comines, France	43.434	99,99	0,01	31/12/2011	EUR	13.063.295,00	2.773.146,00
Lotus Bakeries Nederland BV Oosterdijk 3E, 1601 DA Enkhuizen, Netherlands	2.000	100,0	0,0	31/12/2011	EUR	20.115.211,00	-2.234.228,00
Lotus Bakeries GmBH Schumanstrasse 33, 52146 Würselen, Germany	10.000	100,0	0,0	31/12/2011	EUR	2.613.301,00	580.665,00
Lotus Bakeries Réassurances SA Rue du Kiem 145, L-8030 Strassen, Luxembourg	4.995	99,9	0,1	31/12/2011	EUR	1.291.185,00	0,00

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	100	100,0	0,0	31/12/2011	CZK	8.817.370,00	145.804.00
Lotus Bakeries UK Itd 3000 Manchester Business Park, Aviator Way, M22 5TG Manchester, United Kingdom	5.599	99,99	0.01	31/12/2011	GBP	2.075.237,00	547.332,00
Lopes Market SL Andres Alvarez Caballero 22-26, ES-28970 Humanes de Madrid, Spain	475	95,0	0,0	31/12/2011	EUR	$-60.544,00$	265.857,00
Annas - Lotus Bakeries Holding AB Foreign company Radiovägen 23, 135 48 Tyresö, Sweden	1.001	100,0	0,0	31/12/2011	SEK	55.284.318,00	$-913.232,00$
Lotus Bakeries Asia Pasific Limited Foreign company Yun Ping Road - Caroline Centre Room 2302 - 23rd floor - Lee Gardens 28, , Hong Kong	100	100,0	0,0	31/12/2011	EUR	570.823,00	545.823,00
Lotus Bakeries Schweiz AG Foreign company Baarerstrasse 135, 6301 Zug, Switzerland	200	100,0	0,0	31/12/2011	CHF	3.164.388,00	466.285,00
Lotus Bakeries North America Foreign company Francisco Street, Suite 115 50, 94133 San Francisco California, United States	1.000	100,0	0,0	31/12/2011	USD	$-2.807.616,00$	$-1.704.499,00$
Lotus Bakeries North America Calgary Foreign company L.M. Gordon LAW Office, 20th street 2213, T0L 1R0 Alberta, Canada	200	100,0	0,0	31/12/2011	CAD	10.253,00	956.680,00
Lotus Bakeries Chile spa Foreign company La Capellania 1121 casa 2, 7690000 Lo Barnecha, Santiago, Chile	100	100,0	0,0	31/12/2011	EUR	0.00	0,00
Lotus Bakeries Poland sp. z o.o. Foreign company Ul Fordonska 199, 85739 Bydgoszcz, Poland	10.000	100,0	0,0	31/12/2011	EUR	0.00	0,00

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

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 68/151/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 België NV BE 0421.694.038 Public limited company Gentstraat 52, 9971 Lembeke, Belgium	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, T0L 1R0 Alberta, Canada	C

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

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
------------------------

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

STATEMENT OF CAPITAL
Social capital
Issued capital at the end of the period	100P	XXXXXXXXXXXXXX		3.400.003,65
Issued capital at the end of the period	(100)	3.431.155,65
	Codes	Value		Number of shares
Changes during the period
capital increase			31.152,00	7.080
		.		. .
.				.
.		.		.
Structure of the capital
Different categories of shares Ordinary shares		3.431.155,65		779.643
		.		.
		.		.
.		.		.
Registered shares	8702	XXXXXXXXXXXXX		994
Shares to bearer and/or dematerialized	8703	XXXXXXXXXXXXX		778.649

	Codes	Uncalled amount		Capital called but not paid
Capital not paid
Uncalled capital	(101)	.		XXXXXXXXXXXXX
8712 Called up capital, unpaid XXXXXXXXXXXXX				.
Shareholders having yet to pay up in full
				.
				.
.				.

			Codes	Period

Own shares
Held by the company itself
Amount of capital held			8721	135.100.06
Corresponding number of shares			8722	30.698
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				.
Owing to the exercise of subscription rights
Number of outstanding subscription rights				36.370
Amount of capital to be subscribed			8746	160.061,89
Corresponding maximum number of shares to be issued			8747	50.000
Authorized capital not issued			8751	1.133.335,00

$\mathsf{Codes}$

Period

Preceding period

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.

		Number of voting rights % of voting rights
$\bullet$	Stichting Administratiekantoor van Aandelen Lotus Bakeries $(^1)$ Claude Debussylaan 24 NL-1082 MD Amsterdam	446,378	57.25%
$\bullet$	Lotus Bakeries NV $(^2)$ Gentstraat 52 9971 Lembeke	30,698	3.94%
$\bullet$	Christavest Comm. VA (3) Kerkstraat 33A 9971 Lembeke	63,046	8.09%
Total		540.122	69.28%

(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 30 April 2010*. Lotus Bakeries NV has no knowledge of any change in the above-mentioned interest.

(2) Previously 26,457 voting rights were held by Lotus Bakeries Group Services NV. Following a resolution of 20 July 2012 to proceed with a transaction assimilated to a merger by acquisition, Lotus Bakeries Group Services NV ceased to exist and its assets passed under general title to Lotus Bakeries NV. 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 29 paragraph 1, 1 of the Law of 2 May 2007 on disclosure of mayor holdings.

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

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

ANALYSIS OF THE HEADING 163/5 OF LIABILITIES IF THE AMOUNT IS SIGNIFICANT

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

$F$ 5.8

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	8.831.755,00
Subordinated loans	8811
Unsubordinated debentures	8821	.
Leasing and other similar obligations	8831
Credit institutions	8841	6.631.755,00
Other loans ………………………………………………………………………………………………	8851	2.200.000,00
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)	8.831.755,00
Amounts payable with a remaining term of more than one but not more than five years
Financial debts ………………………………………………………………………………………………	8802	5.667.993,00
Subordinated loans	8812	.
Unsubordinated debentures	8822	.
Leasing and other similar obligations	8832	.
Credit institutions ………………………………………………………………………………………………	8842
Other loans	8852	5.667.993,00
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	14.308.604,24

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
	8893
Advance payments received on contracts in progress	8903
Other amounts payable		.
Total amounts payable with a remaining term of more than five years	8913	.

$\overline{F5.9}$

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	9061	.
own assets	Amounts payable guaranteed by real securities or irrevocably promised by the enterprise on its
	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	8.126.46
Estimated taxes payable	450	1.436.372.94
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

*** checksum: 19385001 *** First - F2013 - 33 / 53

$F\overline{5.9}$

Nr.	BE 0401.030.860

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

$\ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ld$

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

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 entreprise submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	.	466
Average number of employees calculated in full-time equivalents	9087	1,0	411.7
Number of actual worked hours	9088	1.864	611.095

Personnel costs Remuneration and direct social benefits	620	61.844,75	15.285.441,59
	621	8.996,66	4.253.688,40
Employers' contribution for social security	622	135,66	594.740,74
Employers' premiums for extra statutory insurance	623		1.324.443,90
Other personnel costs	624	.	34.217,49
Retirement and survivors' pensions
Provisions for pensions and other similar rights
Appropriations (uses and write-backs)	635	.	$-35.577.60$
Amounts written off
Stocks and contracts in progress
Recorded	9110	20.987,98	576.371,69
Written back	9111		186.016,73
Trade debts
Recorded	9112	.
Written back	9113	.	5.847,03

Provisions for liabilities and charges			28.179,92
Additions	9115 9116	.	35.789,84
Uses and write-backs		.
Other operating charges
Taxes related to operation	640	26.723,39	416.780,06
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	.	31,4
Number of actual worked hours	9098	.	63.278
Costs to the enterprise	617		1.635.641,57

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		0.00	570.219,09
Positive foreign currency translation adjustment		0.00	0.00
Financial rebate		0.00	230.599,30
Payment differences		0.00	10.391,04
Hedging		135.724,75	0.00
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		22,15	734.258,62
Payment differences		0.00	1.067,05
Bank costs		1.124,87	42.725,05
Hedging costs		768.664,67	1.308.769.21
Negative foreign currency translation adjustment (+)/(-)		0.00	328.820,66
Capital loss on disposal of current assets		2.127,00	0.00

	Period
EXTRAORDINARY RESULTS
Allocation of other extraordinary income
goodwill on merger	23.907.389,03

.
Allocation of other extraordinary charges
restructuring expenses	6.179.72

$\overline{F5.11}$

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	727.196,91
Income taxes paid and withholding taxes due or paid	9135	500.000,00
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136
Estimated additional taxes	9137	227.196,91
Income taxes on the result of prior periods	9138	1,59
Additional income taxes due or paid	9139	1,59
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 (+)/(-)		24.259.733,85
Tax shelter (+)/(-)		250.000,00

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 Accumulated tax losses deductible from future taxable profits	9141 9142
Other deferred taxes representing assets
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	169.382,00	12.771.884,30
By the enterprise	9146	5.492,84	10.004.602,43
Amounts withheld on behalf of third party
For payroll withholding taxes	9147		2.489.614,23
For withholding taxes on investment income	9148	1.135.458,90	1.064.294,00

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

	Codes	Period
PERSONAL GUARANTEES PROVIDED OR IRREVOCABLY PROMISED BY THE ENTERPRISE AS
SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES MACCOLOGY CONTINUES AND THE SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES AND SECURITY FOR DEBTS.	9149	.

Of which
Bills of exchange in circulation endorsed by the enterprise	9150	.
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the enterprise	9153	.

REAL GUARANTEES
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of the enterprise Mortgages
Book value of the immovable properties mortgaged	9161	.
Amount of registration	9171	.
Pledging of goodwill - Amount of the registration	9181
	9191	.
Pledging of other assets - Book value of other assets pledged Guarantees provided on future assets - Amount of assets involved	9201

Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of third parties Mortgages
Book value of the immovable properties mortgaged	9162	.
Amount of registration	9172
Pledging of goodwill - Amount of the registration	9182	.
Pledging of other assets - Book value of other assets pledged	9192	.
Guarantees provided on future assets - Amount of assets involved	9202
GOODS AND VALUES, NOT DISCLOSED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN THEIR
OWN NAME BUT AT RISK TO AND FOR THE BENEFIT OF THE ENTERPRISE
		.
		.
		.
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
.		.
		.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,		.
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS


FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214	.
Currencies purchased (to be received)	9215
	9216
Currencies sold (to be delivered)

Nr.	BE 0401.030.860		F 5.13
-----	-----------------	--	--------

COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

INFORMATION CONCERNING IMPORTANT LITIGATION AND OTHER COMMITMENTS

BRIEF DESCRIPTION OF SUPPLEMENT RETIREMENT OR SURVIVORS PENSION PLAN IN FAVOUR OF THE PERSONNEL OR THE EXECUTIVES OF THE ENTERPRISE AND OF THE MEASURES TAKEN BY THE ENTERPRISE TO COVER THE RESULTING CHARGES

	Codes	Period
PENSIONS FUNDED BY THE ENTERPRISE
Estimated amount of the commitments resulting for the enterprise from past services	9220
Methods of estimation

NATURE AND COMMERCIAL OBJECTIVE OF TRANSACTIONS NOT REFLECTED IN THE BALANCE SHEET

Provided that the risks or advantages coming from these transactions are significant and if the disclosure of the risks or advantages is necessary to appreciate the financial situation of the company; if need arises, the financial consequences of these transactions for the company have also to be mentioned

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	200.373.750,70	30.433.313,96
Participating interests	(280)	200.373.750,70	2.642.405,96
Subordinated amounts receivable	9271		.
Other amounts receivable	9281		27.790.908,00
Amounts receivable from affiliated enterprises	9291	7.196.047,00	43.537.272,67
Over one year	9301		.
Within one year	9311	7.196.047.00	43.537.272,67
Current investments	9321	.	.
Shares	9331
Amounts receivable ………………………………………………………………………………………………	9341
Amounts payable	9351	156.502.648,37	18.032.149,62
Over one year	9361	14.308.604,24
Within one year	9371	142.194.044,13	18.032.149,62
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		777.976,45
Income from current assets	9431		104.391,47
Other financial income	9441
Debt charges	9461	841.708.11	625.84
Other financial charges	9471		.
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	.	.

BE 0401.030.860		F 5.14
		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
		0,00

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	61.033,00
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	2.150,00
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082	192.432,33
Other missions external to the audit	95083	177.432,40

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	-321.816.01

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

Nr.	BE 0401.030.860	F 5.17.2

FINANCIAL RELATIONSHIPS OF THE GROUP LED BY THE ENTERPRISE IN BELGIUM WITH AUDITORS OR WITH PEOPLE THEY ARE LINKED TO

	Codes	Period
Mentions related to article 134, paragraphs 4 and 5 from the Companies Code
Auditor's fees according to a mandate at the group level led by the company publishing the information	9507
Fees for exceptional services or special missions executed in these group by the auditor
Other attestation missions	95071
Tax consultancy	95072
Other missions external to the audit	95073
Fees to people auditors are linked to according to the mandate at the group level led by the company publishing the information	9509
Fees for exceptional services or special missions executed in the group by people they are linked to
Other attestation missions	95091
Tax consultancy	95092
Other missions external to the audit	95093

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

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
Average number of employees
Full-time	1001	1.0	1.0
Part-time	1002		.	.
Total in full-time equivalents	1003	1.0	1.0
Number of hours actually worked
Full-time	1011	1.864	1.864
Part-time	1012	.	.
Total	1013	1.864	1.864	.
Personnel costs
Full-time	1021		.
Part-time	1022		.	.
Total	1023	70.977,07	70.977.07
Advantages in addition to wages	1033		.

During the preceding period	Codes	Total	1P. Men
Average number of employees in FTE	1003	411.7	411.7
Number of hours actually worked	1013	611.095	611.095
Personnel costs	1023	21.458.314.64	21.458.314.64
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

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	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	1	1,0
By nature of employment contract
Contract for an indefinite period	310	1	1,0
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	1	1,0
the number of persons who continue to render services to
the enterprise at least half-time on a self-employed basis	350

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

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

	Codes	Codes
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

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.

Liabilities

2.1 Provisions for liabilities and charges

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

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.

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.

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MANAGEMENT REPORT

BE 0401.030.860
-----------------

AI Terminal

Lotus Bakeries NV

3972_rns_2013-04-12_0e4b6130-8eb7-464f-a2c8-b7f5ec64b8b7.pdf