Proximus SA — Annual Report 2009

Mar 16, 2012

40 Nr. Date of the deposition	No. 0202.239.951	1 Ε. PP.	EUR D.	$C$ 1.1
		ANNUAL ACCOUNT IN EURO
NAME: BELGACOM
Legal form: S.A. de droit public Address: Boulevard Roi Albert II - Koning Albert II Iaan Postal Code: 1030 Country: Belgium Register of Legal Persons (RLP) - Office of the commercial court at: Bruxelles Internet address *:	City: Brussel 3			Nr.: 27
			Company number:	0202.239.951
DATE 25/01/2010 publication of the partnership deed and the act changing the articles of association.				of the deposition of the partnership deed OR of the most recent document mentioning the date of
ANNUAL ACCOUNT approved by the General Meeting of		14/04/2010
concerning the financial year covering the period from		01/01/2009	till	31/12/2009
	Previous period from	01/01/2008	till	31/12/2008
The amounts of the previous financial year are $/$ -are not $**$ identical to those which have been previously published.
COMPLETE LIST WITH name, first name, profession, residence-address (address, number, postal code, municipality) and position with the enterprise, OF DIRECTORS, MANAGERS AND AUDITORS BELLENS Didier Profession: CEO Avenue L. Vercauteren 25, 1160 Brussel 16, Belgium Title : Delegated director DILISSEN Theo Profession: President
Dikkemeerweg 54, 1653 Dworp, Belgium
Title: President of the board of directors
Enclosed to these annual accounts:
Total number of pages deposited: of service: 5.1, 5.2.1, 5.2.4, 5.3.4, 5.5.2, 5.17.2, 8, 9 Signature (name and position BELLENS Didief CEO $*$ Cational etatement			Signature (name and position) DILISSEN Theo Chairman Board of Directors	Number of the pages of the standard form not deposited for not being

$\mathcal{A}^{\mathcal{C}}$

$\sim 10^6$

* Optional statement.
** Delete where appropriate.

$\overline{\mathsf{N}^\circ}$ 0202.239.951		C 1.1
	LIST OF DIRECTORS, MANAGERS AND AUDITORS (continuation of the previous page)
DUREZ Martine, Chairman of Board of Directors of La Poste/De Post Avenue Saint-Pierre 34, 7000 Mons, BELGIUM Director
LAMOTE Mimi, Director of Companies Kerkstraat 122, 9140 Tielrode, BELGIUM Director
MOLL Michel, Director of Companies Avenue des Châtaignes 13B, 1950 Kraainem, BELGIUM Director
SIOEN Michèle, CEO Sioen Industries Astridiaan 14, 8300 Knokke, BELGIUM Director
VAN de PERRE Paul, CEO Five Financial Solutions Leliestraat 80, 1720 Dilbeek, BELGIUM Director
Representatives of shareholders other than the Belgian State:
CORNU Jozef, CEO Agfa Gevaert Grouwesteenstraat 13, 9170 Sint-Gillis-Waas, BELGIQUE Director
DEMUYNCK Guido J.M., Director of Companies Wagnerlaan 11, 1217 CP Hilversum, THE NETHERLANDS Director
DE SMEDT Pierre-Alain, Chairman FEBIAC Hofstraat 31-33, 8400 Oostende, BELGIUM Director
Avenue Bois du Dimanche 21b, 1150 Bruxelles, BELGIUM Director	DOUTRELEPONT Carine, Lawyer Doutrelepont & Partners, Professor ULB
HAMPTON Philip, Chairman Royal Bank of Scotland Group plc, Director	Blakeney, Pennymead Rise - East Horsley, Surrey KT24 5AL, UNITED KINGDOM
JACOBS Georges, Chairman of Board of Directors Delhaize S.A. Poverstraat 5, 1785 Brussegem, BELGIUM Director
SHAFFER Oren G., Director of Companies Director	106 S. University Blvd., Unit 5, CO 80209 Denver, UNITED STATES OF AMERICA
Sparrenstraat 7, 9950 Waarschoot, BELGIUM Director	VAN den BERGHE Lutgart, Executive-Director Guberna & Vierick Leuven Gent Management School

$\mathcal{P}$

N°	0202.239.951			لدارا المقتدرة	C 1.1
			LIST OF DIRECTORS, MANAGERS AND AUDITORS (continuation of the previous page)
	De Kleetlaan 2, 1831 Diegem, BELGIUM Chairman of the Board of Auditors Company number: BE 0446.334.711	Number of membership with the institute of Auditors: B00160	ERNST & YOUNG, Réviseurs d'entresprises S.C.C.R.L represented by M. Van Dooren
Auditor	LESAGE Romain, Councillor Auditor's Office	Tervuursesteenweg 465, 1982 Elewijt, BELGIUM
Auditor	RION Pierre, Councillor Auditor's Office Rue N. Bouillon 41A, 5377 Sinsin, BELGIUM
Auditor	Company number: BE 0461.812.644	Avenue de Tervuren 313, 1150 Bruxelles, BELGIUM Number of membership with the Institute of Auditors : B00327	CALLENS, GUEVAR, VAN IMPE & CO Auditor's Office S.C.C. represented by H. Van Impe

$\label{eq:2.1} \frac{1}{\sqrt{2}}\int_{\mathbb{R}^3}\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2.$

	Nr. 0202.239.951
--	--------------------

DECLARATION ABOUT SUPPLEMENTARY AUDITING OR ADJUSTMENT MISSION

The managing board declares that the assignment neither regarding auditing nor adjusting has been given to a person who was not authorised by law pursuant to art. 34 and 37 of the Law of 22nd April 1999 concerning the auditing and tax professions.

Have the annual accounts been audited or adjusted by an external accountant or auditor who is not a statutory auditor $?$ $+$ ES / NO $*$ .

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

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

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

Name, first name, profession, residence-address	Number of membership	Nature of the engagement $(A, B, C \text{ and/or } D)$

$C$ 1.2

Delete where appropriate.

Optional disclosure.

BALANCE SHEET		$\epsilon_{\rm eff}$ . $\epsilon_{\rm c}$	$\epsilon_{\rm N}$ is given.
	Notes	Codes	Period	Previous period
ASSETS
FIXED ASSETS		20/28	11,129,449.201	15.129.868.341
Formation expenses	5.1	20
Intangible fixed assets	5.2	21	131.155.383	88.857,370
Tangible fixed assets	5.3	22/27	1.592.190.128	1.612.595.424
Land and buildings		22	191.171.433	199.720.789
Plant, machinery and equipment		23	1.362.646.217	1.359.660.480
Furniture and vehicles		24	23.303.778	23.600.444
Leasing and other similar rights		25
Other tangible fixed assets		26	15.068.358	16.650.557
Assets under construction and advance payments		27	342	12.963.154
Financial fixed assets	5.4/ 5.5.1	28	9,406,103,690	13,428,415.547
Affiliated enterprises	5.14	280/1	9.403.668.081	13.427.985.834
Participating interests		280	9.403.668.081	13.311.431.237
Amounts receivable		281		116.554.597
Other enterprises linked by participating interests	5.14	282/3	2.000.000
Participating interests		282	2.000.000
Amounts receivable		283
Other financial assets		284/8	435,609	429.713
Shares		284
Amounts receivable and cash guarantees		285/8	435.609	429.713
CURRENT ASSETS		29/58	5.061.526.849	1.183.770.274
Amounts receivable after more than one year		29	1.203.223	1.617.996
Trade debtors		290
Other amounts receivable		291	1.203.223	1.617.996
Stocks and contracts in progress		3	37.801.214	44.128.130
Stocks		30/36	37.676.805	43.944.419
Raw materials and consumables		30/31	20.997.197	23,460.021
Work in progress		32	65.558	92.955
Finished goods		33
Goods purchased for resale		34	16.614.050	20.391.443
Immovable property intended for sale		35
Advance payments		36
Contracts in progress	5.5.1/	37	124.409	183.711
Amounts receivable within one year	5.6	40/41	4.516.002.972	563.761.445
Trade debtors		40	498.027.778	531.045.718
Other amounts receivable		41	4.017.975.194	32.715.727
Current investments		50/53	451.638.020	492.961.917
Own shares		50	440.853.263	483.491.586
Other investments and deposits		51/53	10,784.757	9.470.331
Cash at bank and in hand		54/58	3.013.955	24.374.548
Deferred charges and accrued income	5.6	490/1	51.867.465	56.926.238
TOTAL ASSETS		20/58	16.190.976.050	16.313.638.615

Nr. 0202.239.951				C 2.2
EQUITY AND LIABILITIES	Notes	Codes	Period	Previous period
EQUITY :		10/15	2.404.976.157	2.839.962.244
Capital ………………………………………………………………………………………………	5.7	10	1.000.000.000	1.000.000.000
Issued capital		100	1.000.000.000	1.000.000.000
Uncalled capital Share premium account		101 11
Revaluation surpluses		12
Reserves		13	1.404.890.077	1.839.865.675
Legal reserve		130	100.000.000	100.000.000
Reserves not available $\cdots$		131	477.829.817	514,361.854
In respect of own shares held		1310	477.829.817	514.361.854
Other Untaxed reserves		1311
Available reserves		132 133	13.993.392	15.316.041
Accumulated profits (losses)		14	813.066.868	1.210.187.780
Investment grants		15	86.080	96.569
Advance to associates on the sharing
out of the assets minimum minimum minimum minimum		19
PROVISIONS AND DEFERRED TAXES		16	813.527.347	924.370.304
Provisions for liabilities and charges		160/5	808.543.649	919.063.473
Pensions and similar obligations		160
Taxation		161
Major repairs and maintenance		162
Other liabilities and charges	5.8	163/5	808.543.649	919.063.473
Deferred taxes		168	4.983.698	5.306.831
AMOUNTS PAYABLE		17/49	12.972.472.546	12.549.306.067
Amounts payable after more than one year	5.9	17	4.821.847.798	4.508.997.798
Financial debts		170/4	4.821.847.798	4.508.997.798
Subordinated loans		170
Unsubordinated debentures		171	2.067.192.996	2.067.192.996
Leasing and other similar obligations Credit institutions		172 173	2.396.154.802
Other loans		174	358.500.000	2.441.804.802
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year		42/48	8.045.564.139	7.916.537.600
Current portion of amounts payable after more than one year falling due within one year	5.9	42	45.650.000	1.278.577.562
Financial debts		43	6.905.501.357	5.489.682.808
Credit institutions		430/8	6.905.501.357	5.489.682.808
Other loans		439
Trade debts		44	348.362.008	392.125.862
Suppliers		440/4	348.362.008	392.125.862
Bills of exchange payable		441
Advances received on contracts in progress		46	21.034.694	20.018.440
Taxes, remuneration and social security	5.9	45	169.181.190	160.400.807
Taxes		450/3	32.460.217	29.058.760
Remuneration and social security		454/9	136.720.973	131.342.047
Other amounts payable		47/48	555.834.890	575.732.121
Accrued charges and deferred income	5.9	492/3	105.060.609	123.770.669
TOTAL LIABILITIES		10/49	16.190.976.050	16.313.638.615

INCOME STATEMENT $\begin{bmatrix} 1 & 0 & 0 \ 0 & 0 & 0 \ 0 & 0 & 0 \end{bmatrix}$

$\sim$ 1.5 $\sim$ 0.1 $\approx$ $-19.5$
riod

.
I

	Notes	Codes	Period	Previous period
Operating income		70/74	2.881.320.731	2.889.349.295
Turnover		70	2.595.895.664	2.619.968.833
Increase (decrease) in stocks of finished goods, work and contracts in progress (+)/(-)		71	-86.699	61.211
Own construction capitalised		72	177.796.534	197.735.090
Other operating income		74	107.715.232	71,584,161
Operating charges		60/64	2.299.520.029	2.278.892.309
Raw materials, consumables		60	237.240.930	250.759.098
Purchases $\ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ld$		600/8	230.715.964	246.317.802
Decrease (increase) in stocks (+)/(-)		609	6.524.966	4.441.296
Services and other goods		61	919.142.635	916.951.627
Remuneration, social security costs and pensions (+)/(-)	5.10	62	752.510.210	733.342.224
Depreciation of and amounts written off formation expenses, intangible and tangible fixed assets		630	368.801.964	362.973.858
Amounts written down stocks, contracts in progress and trade debtors - Appropriations (write-backs) (+)/(-)	5.10	631/4	-4.901.039	$-8.826.462$
Provisions for risks and charges - Appropriations (uses and write-backs)	5.10	635/7	-1.740.585	$-8.873.774$
Other operating charges	5.10	640/8	28.465.914	32.565.738
Operation charges carried to assets as restructuring costs		649
Operating profit (loss)		9901	581.800.702	610.456.986
Financial income		75	82.966.198	140.543.852
Income from financial fixed assets		750	76.683.449	130.004.552
Income from current assets		751	1.110.934	2.031.795
Other financial income		752/9	5.171.815	8.507.505
Financial charges		65	354.113.037	526.762.335
Debt charges		650	305.517.465	478.417.562
Amounts written down on current assets except stocks, contracts in progress and		651	34.229.418	33.794.703
trade debtors
Other financial charges		652/9	14.366.154	14.550.070
Gain (loss) on ordinary activities before taxes (+)/(-)		9902	310.653.863	224.238.503

$\bar{a}$

$\bar{\mathbf{r}}$

۰.	۰.

		Codes	Period	Previous period
Extraordinary income		76	12.670.354	4.033.501
Write-back of depreciation and of amounts written down intangible and tangible fixed assets		760
Write-back of amounts written down financial fixed assets.		761	11.737.383	3.100.000
Write-back of provisions for extraordinary liabilities and charges		762
Gains on disposal of fixed assets		763	219.387	148.156
Other extraordinary income		764/9	713.584	785.345
Extraordinary charges		66	79.214.644	87.891.167
Extraordinary depreciation of and extraordinary amounts written off formation expenses, intangible and tangible fixed assets		660
Amounts written down financial fixed assets		661	47.495.063	22.678
Provisions for extraordinary liabilities and charges - Appropriations (uses)		662	-108.779.238	-71.519.101
Loss on disposal of fixed assets		663
Other extraordinary charges	5.11	664/8	140.498.819	159.387.590
Extraordinary charges carried to assets as restructuring costs		669
Profit (loss) for the period before taxes		9903	244.109.573	140.380.837
Transfer from postponed taxes		780	323.133	323.133
Transfer to postponed taxes		680
Income taxes		67/77	5.955	11.934
$income\,\text{taxes}$		670/3	5.955	11.934
Adjustment of income taxes and write-back of tax provisions		77
Profit (loss) for the period		9904	244.426.751	140.692.036
Transfer from untaxed reserves		789	1.367.049	617.049
Transfer to untaxed reserves		689	44,400
Profit (loss) for the period available for appropriation $(+)/(-)$		9905	245.749.400	141.309.085

$\sim$

Ĵ

APPROPRIATION ACCOUNT

	Codes	Period	Previous period
Profit (loss) to be appropriated	9906	245.749.400	141.309.085
Gain (loss) to be appropriated	(9905)	245.749.400	141.309.085
Profit (loss) to be carried forward	14P
Transfers from capital and reserves	791/2	440.179.195	571.418.457
from capital and share premium account	791
from reserves	792	440.179.195	571.418.457
Transfers to capital and reserves	691/2	6.526.245	14.937.279
to capital and share premium account	691
to the legal reserve	6920
to other reserves	6921	6 526 245	14.937.279
Profit (loss) to be carried forward	(14)
Owner's contribution in respect of losses	794
Profit to be distributed	694/6	679.402.350	697.790.263
Dividends	694	667.196.871	690.771.221
Director's or manager's entitlements	695
Other beneficiaries	696	12.205.479	7.019.042

$\sim$

$\frac{1}{2} \frac{1}{2} \frac{1}{2}$

$\sim$

$\sqrt{C}$ 4

$\bar{\mathcal{A}}$

$\mathbb{R}^2$

Nr. 0202.239.951

$\ddot{\phantom{a}}$

	Codes	Period	Previous period
CONCESSIONS, PATENTS, LICENCES, KNOWHOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	XXXXXXXXXXXXXX	415.432.529
Movements during the period
Acquisitions, including produced fixed assets	3022	77.467.340
Sales and disposals	8032	3.747.275
Transfers from one heading to another	8042	35.626
Acquisition value at the end of the period	8052	489.188.220
Depreciation and amounts written down at the end of the period	8122P	XXXXXXXXXXXXXX	326.712.028
Movements during the period
Recorded	8072	35.134.959
Written back	3032
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102	3.747.275
Transfers from one heading to another	8112	13.894
Depreciation and amounts written down at the end of the period	8122	358.113.606
NET BOOK VALUE AT THE END OF THE PERIOD	211	131.074.614

$\overline{\phantom{a}}$

$\ddot{\phantom{a}}$

$\ddot{\phantom{0}}$

$\ddot{\phantom{a}}$ $\ddot{\phantom{a}}$

$\frac{1}{2}$

	Codes	Period	Previous period
GOODWILL
Acquisition value at the end of the period	8053Pl	XXXXXXXXXXXXXXX	116.140.177
Movements during the period
Acquisitions, including produced fixed assets	8023
Sales and disposals	8033
Transfers from one heading to another	8043
Acquisition value at the end of the period	8053	116.140.177
Depreciation and amounts written down at the end of the period	8123P	XXXXXXXXXXXXXX	116.003.308
Movements during the period
Recorded	8073	56.100
Written back	8083
Acquisitions from third parties	8093
Cancelled owing to sales and disposals	8103
Transfers from one heading to another	8113
Depreciation and amounts written down at the end of the period	8123	116.059.408
NET BOOK VALUE AT THE END OF THE PERIOD	212	80.769

Nr.	0202.239.951

STATEMENT OF TANGIBLE FIXED ASSETS

$\tau$ is denoted.

	Codes	Period	Previous period
LAND AND BUILDINGS
Acquisition value at the end of the period	8191P	XXXXXXXXXXXXXX	360.183.535
Movements during the period
Acquisitions, including produced fixed assets	8161	1.596.737
Sales and disposals	8171	1.284.813
Transfers from one heading to another	8181	$-16.845$
Acquisition value at the end of the period	8191	360.478.614
Revaluation surpluses at the end of the period	8251P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8211
Acquisitions from third parties	8221
Cancelled	8231
Transfers from one heading to another	8241
Revaluation surpluses at the end of the period	8251
Depreciation and amounts written down at the end of the period	8321P	XXXXXXXXXXXXXXX	160.462.746
Movements during the period
Recorded	8271	10.131.271
Written back	8281
Acquisitions from third parties	8291
Cancelled owing to sales and disposals	8301	1.284.813
Transfers from one heading to another	8311	$-2.023$
Depreciation and amounts written down at the end of the period	8321	169.307.181
NET BOOK VALUE AT THE END OF THE PERIOD	(22)	191.171.433

$\overline{C}$ 5.3.1

$\frac{1}{3}$

$\sim 1$

$\ddot{\phantom{1}}$

	Codes	Period	Previous period
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period	8192P	XXXXXXXXXXXXXX	8.340.029.030
Movements during the period
Acquisitions, including produced fixed assets	8162	290.595.283
Sales and disposals	8172	147.226.196
Transfers from one heading to another	8182	21.475.717
Acquisition value at the end of the period	8192	8.504.873.834
Revaluation surpluses at the end of the period	8252P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8212
Acquisitions from third parties	8222
Cancelled	8232
Transfers from one heading to another	8242
Revaluation surpluses at the end of the period	8252
Depreciation and amounts written down at the end of the period	8322P	XXXXXXXXXXXXXX	6.980.368.549
Movements during the period
Recorded	8272	308.856.059
Written back	8282
Acquisitions from third parties	8292
Cancelled owing to sales and disposals	8302	147 214 412
Transfers from one heading to another	8312	217.421
Depreciation and amounts written down at the end of the period	8322	7.142.227.617
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	1.362.646.217

$Nr.$ 0202.239.951

	Codes	Period	Previous period
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	XXXXXXXXXXXXXXX	134.092.120
Movements during the period
Acquisitions, including produced fixed assets	8163	8.160.324
Sales and disposals	8173	52.632.005
Transfers from one heading to another	8183	17.131
Acquisition value at the end of the period	8193	89.637.570
Revaluation surpluses at the end of the period	8253P	XXXXXXXXXXXXXX
Movements during the period
Recorded	8213
Acquisitions from third parties	8223
Cancelled	8233
Transfers from one heading to another	8243
Revaluation surpluses at the end of the period	8253
Depreciation and amounts written down at the end of the period	8323P	XXXXXXXXXXXXXX	110.491.676
Movements during the period
Recorded	8273	8.472.477
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303	52.632.005
Transfers from one heading to another	8313	1.644
Depreciation and amounts written down at the end of the period	8323	66.333.792
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	23.303.778

	Codes	Period	Previous period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	XXXXXXXXXXXXXX	88.096.017
Movements during the period
Acquisitions, including produced fixed assets	8165	4.420.542
Sales and disposals	8175	630.435
Transfers from one heading to another	3185	8.345
Acquisition value at the end of the period	8195	91.894.469
Revaluation surpluses at the end of the period	8255P	XXXXXXXXXXXXXX
Movements during the period
Recorded	8215
Acquisitions from third parties	8225
Cancelled	8235
Transfers from one heading to another	8245
Revaluation surpluses at the end of the period	8255
Depreciation and amounts written down at the end of the period	8325P	XXXXXXXXXXXXXX	71,445,460
Movements during the period
Recorded	8275	6.009.063
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305	630.435
Transfers from one heading to another	8315	2.023
Depreciation and amounts written down at the end of the period	8325	76.826.111
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	15.068.358

Nr. 0202.239.951

$\ddot{\phantom{a}}$

	Codes	Period	Previous period
ASSETS UNDER CONSTRUCTION AND ADVANCED PAYMENTS
Acquisition value at the end of the period	8196P	XXXXXXXXXXXXXXXX	13.054.132
Movements during the period
Acquisitions, including produced fixed assets	8166	8.466.239
Sales and disposals	8176
Transfers from one heading to another	8186	-21.519.975
Acquisition value at the end of the period	8196	396
Revaluation surpluses at the end of the period	8256P	XXXXXXXXXXXXXX
Movements during the period
Recorded	8216
Acquisitions from third parties	8226
Cancelled	8236
Transfers from one heading to another	8246
Revaluation surpluses at the end of the period	8256
Depreciation and amounts written down at the end of the period	8326P	XXXXXXXXXXXXXXX	90.978
Movements during the period
Recorded	8276	142.035
Written back	8286
Acquisitions from third parties	8296
Cancelled owing to sales and disposals	8306
Transfers from one heading to another	8316	$-232.959$
Depreciation and amounts written down at the end of the period	8326	54
NET BOOK VALUE AT THE END OF THE PERIOD	(27)	342

$\frac{1}{\beta}$

$\lesssim 20\,\mathrm{s}^{-1}$

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Previous period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P	XXXXXXXXXXXXXX	13.461.107.004
Movements during the period
Acquisitions, including produced fixed assets	8361	101.494.525
Sales and disposals	8371	3.973.500.000
Transfers from one heading to another	8381
Acquisition value at the end of the period	8391	9.589.101.529
Revaluation surpluses at the end of the period	8451P	XXXXXXXXXXXXXX
Movements during the period
Recorded	8411
Acquisitions from third parties	8421
Cancelled	8431
Transfers 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	XXXXXXXXXXXXXX	147.675.768
Movements during the period
Recorded	8471	47.495.063
Written back	8481	11.737.383
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
Transfers from one heading to another	8511
Amounts written down at the end of the period	8521	183.433.448
Uncalled amounts at the end of the period	8551P	XXXXXXXXXXXXXX	2.000.000
Movements during the period	8541
Uncalled amounts at the end of the period	8551	2.000.000
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	9.403.668.081
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	XXXXXXXXXXXXXX	116.554.597
Movements during the period
Additions	8581
Repayments	8591
Amounts written down	8601
Amounts written back	8611
Exchange differences	8621
Other	8631	-116.554.597
NET BOOK VALUE AT THE END OF THE PERIOD	(281)
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8651

$\bar{\mathcal{A}}$ $\epsilon$

Nr. 0202.239.951

$\epsilon$ , $\epsilon$ , $\epsilon$

$\frac{1}{2}$

$\bar{a}$

	Codes	Period	Previous period
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8392P	XXXXXXXXXXXXXX	5.999.994
Movements during the period
Acquisitions, including produced fixed assets	8362	2.000.000
Sales and disposals	8372
Transfers from one heading to another	8382
Acquisition value at the end of the period	8392	7.999.994
Revaluation surpluses at the end of the period	8452P	XXXXXXXXXXXXXX
Movements during the period
Recorded	8412
Acquisitions from third parties	8422
Cancelled	8432
Transfers from one heading to another	8442
Revaluation surpluses at the end of the period	8452
Amounts written down et the end of the period	8522P	XXXXXXXXXXXXXX	5.999.994
Movements during the period
Recorded	8472
Written back	8482
Acquisitions from third parties	8492
Cancelled owing to sales and disposals	8502
Transfers from one heading to another	8512
Amounts written down at the end of the period	8522	5.999.994
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)	2.000.000
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	283P	XXXXXXXXXXXXXX
Movements during the period
Additions	8582
Repayments	8592
Amounts written down	8602
Amounts written back	8612
Exchange differences	8622
Other	8632
NET BOOK VALUE AT THE END OF THE PERIOD	(283)
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8652

$\label{eq:2.1} \frac{1}{\sqrt{2\pi}}\int_{0}^{\infty}\frac{1}{\sqrt{2\pi}}\left(\frac{1}{\sqrt{2\pi}}\right)^{2\alpha} \frac{1}{\sqrt{2\pi}}\int_{0}^{\infty}\frac{1}{\sqrt{2\pi}}\left(\frac{1}{\sqrt{2\pi}}\right)^{\alpha} \frac{1}{\sqrt{2\pi}}\frac{1}{\sqrt{2\pi}}\frac{1}{\sqrt{2\pi}}\frac{1}{\sqrt{2\pi}}\frac{1}{\sqrt{2\pi}}\frac{1}{\sqrt{2\pi}}\frac{1}{\sqrt{2\pi}}\frac{1}{\sqrt{2\pi}}\frac{1}{\sqrt$

$\begin{aligned} & \text{minimize} & \text{if } \text{if } \text{if } \text{if } \text{if } \text{if } \text{if } \text{if }$

a a construcción a comunicación

	Codes	Period	Previous period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxxxx	1.023.550
Movements during the period
Acquisitions, including produced fixed assets	8363
Sales and disposals	8373
Transfers from one heading to another	8383
Acquisition value at the end of the period	8393	1.023.550
Revaluation surpluses at the end of the period	8453P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transfers 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	XXXXXXXXXXXXXXXX	1.023.550
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transfers from one heading to another	8513
Amounts written down at the end of the period	8523	1.023.550
Uncalled amounts at the end of the period	8553P	XXXXXXXXXXXXXX
Movements during the period	8543
Uncalled amounts at the end of the period	8553
NET BOOK VALUE AT THE END OF THE PERIOD	(284)
OTHER ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	285/8P	XXXXXXXXXXXXXX	429.713
Movements during the period
Additions	8583	5.896
Repayments	8593
Amounts written down	8603
Amounts written back	8613
Exchange differences	8623
Other	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	435,609
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8653

$\sim 10^{11}$

$\sim 1.5$ $\bar{\epsilon}$

$\overline{\phantom{a}}$

INFORMATION RELATING TO THE SHARE IN THE CAPITAL

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

List of both enterprises in wich the enterprise holds a participating interest (recorded in the heading 28 of assets) and other enterprises in which the enterprise holds rights (recorded in the headings 28 and 50/53 of ass

NAME, full address of the REGISTERED		Shares held by		Information from the most recent period for which annual accounts are available
OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER	directly		subsi- diaries	Primary	Mone-	Capital and reserves	Net result
	Number	%	%	financial statement	tary unit	$(+)$ or $(-)$ (in monetary units)
Belgacom Finance PLC Rue de Merl 74 2146 Luxembourg				31/12/2008	EUR	610.090.780	21.879.636
Luxembourg
FINBEL RE PLC	498565	99,00	1,00	31/12/2008	EUR	7.436.806	0
Rue de Meri 74 2146 Luxembourg Luxembourg
	2999	99,97	0,03
Belgacom W PLC Rue Marie-Henriette 60 5000 Namur Belgium				31/12/2008	EUR	8,763,619	1.018.804
0464.163.014	6088424 100,00		0,00
M-Brussels Invest PLC Boulevard Roi Albert II 27 1030 Brussel 3 Belgium				31/12/2008	EUR	$-265.968$	$-17.300$
0473.711.178	60000	50,00	0,00
Belgacom Skynet PLC Rue Carli 2 1140 Brussel 14 Belgium 0460.102.672				31/12/2008	EUR	65.164.271	140.385
	667735 100,00		0,00
Connectimmo PLC Boulevard Roi Albert II 27 1030 Brussel 3 Belgium 0477.931.965				31/12/2008	EUR	511.724.790	33.646.492
	4865300 100,00		0,00
Info2clear PLC Avenue Joseph Wybran 40 1040 Brussel 4 Belgium 0463.236.366				31/12/2006	EUR	6.766	$-118.056$
	1058163	25,31	0.00

mmarian munisipality nomina (a. . . . . . . .

$\frac{1}{2\pi}$ in $\frac{1}{2\pi}$ . If

$\sim 30\%$

$\bar{\mathbf{v}}$

$\sim$

$\hat{\mathcal{A}}$

INFORMATION RELATING TO THE SHARE IN THE CAPITAL

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

NAME, full address of the REGISTERED		Shares held by			Information from the most recent period for which annual accounts are available
OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER	directly		subsi- diaries	Primary	Mone-	Capital and reserves	Net result
	Number	%	℅	financial statement	tary unit	$(+)$ or $(-)$ (in monetary units)
Belgacom Opal PLC Boulevard Roi Albert II 27 1030 Brussel 3 Belgium 0861.585.672				31/12/2008	EUR	69.742	4.690
Belgacom Invest SRL Rue de Merl 74 2146 Luxembourg Luxembourg		620 100.00	0,00	31/12/2008	EUR	6.378.854.392	30.123.046
Belgacom International Carrier Services PLC Rue J. Lebeau 4 1000 Brussel 1	20805125 100,00		0,00	31/12/2008	EUR	80.033.392	31.065.288
Belgium 0866.977.981 Allô Bottin SRL Rue Jean Jaurès 101, box 109 92300 Levallois-Perret France	548640	57.60	0,00	31/12/2007	EUR	$-1.682.700$	$\Omega$
Telindus Group PLC Geldenaaksebaan 335 3001 Heverlee Belgium	100000	50,00	0,00	31/12/2008	EUR	423,630,763	-74.568.232
0422.674.035 Belgacom Development PLC Rue de Merl 74 2146 Luxembourg Luxembourg	35799999 100,00		0,00	31/12/2008	EUR	124.042	$-38.129$
Belgacom Group International Services PLC Geldenaaksebaan 335 3001 Heverlee Belgium		1000 100,00	0,00	31/12/2008	EUR	5.225.145.916	232.687.071
0466.917.220	46201653	66,20	33,80

$\mathcal{L}_{\mathcal{A}}$

$\alpha$ , and $\alpha$

INFORMATION RELATING TO THE SHARE IN THE CAPITAL "

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

NAME, full address of the REGISTERED		Shares held by			Information from the most recent period for which annual accounts are available
OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER	directly		subsi- diaries	Primary	Mone-	Capital and reserves	Net result
	Number	%	%	financial statement	tary unit	$(+)$ or $(-)$ (in monetary units)
Belgacom Mobile PLC Boulevard du Roi Albert II 27 1030 Brussel 3 Belgium 0453.918.428				31/12/2008	EUR	2.984.738.310	539.965.006
Beldiscom PLC Boulevard d'Avroy 242 4000 Liège 1 Belgium 0440.935.769	750000	25,00	75.00	31/12/2008	EUR	95.633	25.802
Mobile-For PLC Boulevard du Roi Albert II 27 1030 Brussel 3 Belgium 0881.959.533	399	99,00	1,00	31/12/2008	EUR	370.225	-588.701
Scarlet PLC Ketelmeerstraat 198 8226JX Lelystad Holland 813288198B01		2000 100.00	0,00	31/12/2008	EUR	12.335.000	-12.284.000
Tunz.com PLC Chaussée de La Hulpe 187 1170 Brussel 17 Belgium 0886.476.763	599313 100,00		0,00	31/12/2008	EUR	999.341	$-315.004$
Sahara International Ventures PLC Amstel 108 1017 Amsterdam Holland 813288198B01	8000	40,00	0,00		EUR	0	0
	4684	51,00	0,00

$\sim$

	Codes	Period	Previous 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 deposit with credit institutions	53	10.784.757	9.470.331
Falling due
less or up to one month	8686	10.784.757	9.470.331
between one month and one year	8687
over one year	8688
Other investments not yet shown seperately	8689

DEFFERED CHARGES AND ACCRUED INCOME

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

Deferred charges Accrued income

Period 51.709.825 157.640

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

STATEMENT OF CAPITAL

Social capital

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

Codes	Period	Previous period
100P
	XXXXXXXXXXXXXX	1.000.000.000
(100)	1.000.000.000

	Codes	Amounts	Number of shares
Changes during the period:
Structure of the capital Different categories of shares
Bearer shares w/o specification of nominal value		1.000.000.000	338.025.135
Registered shares	8702	XXXXXXXXXXXXX
Bearer shares and/or dematerialized shares	8703	XXXXXXXXXXXXXX	338.025.135

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

	Codes	Period
OWN SHARES
Held by the company itself
Amount of capital held measurements are accommodated and the control of capital held measurements and the control of capital held	8721	51.506.383
Number of shares held	8722	17.410.452
Held by the subsidiaries
Amount of capital held	8731
Number of shares held	8732
Commitments to issue shares
Following the exercising 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
Following the exercising of SUBSCRIPTION RIGHTS
Number of outstanding subscription rights www.www.www.www.www.www.www.www.www.ww	8745
Amount of capital to be subscribed	8746
Corresponding maximum number of shares to be issued	8747
Authorized capital, not issued	8751	200.000.000

$\mathcal{M}{\rm eff}$ , $\mathcal{L}{\rm eff}$

ASSEMBLEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

$\frac{1}{2}$ , $\frac{1}{2}$ , $\frac{1}{2}$ , $\frac{1}{2}$

$\Box$

	Codes	Period
Shared issued, not representing capital
Distribution
Number of shares held	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 subsidairies	8781

STRUCTURE OF SHAREHOLDINGS OF THE ENTERPRISE AS AT THE ANNUAL BALANCING OF THE BOOKS, AS IT APPEARS FROM THE STATEMENT RECEIVED BY THE ENTERPRISE

The Belgian State holds 180.887.569 shares, the investment management company "Capital research and management" 16.577.773 shares and the S.A. de droit public/N.V. van publiek recht Belgacom 17.410.452 shares on a total of

Nr.	0202.239.951		C 5.8
	PROVISIONS FOR OTHER LIABILITIES AND CHARGES		್ಲಲಾನ್ಯ ಮಾ
			Period
		ALLOCATION OF THE HEADING 163/5 OF LIABILITIES IF THE AMOUNT IS CONSIDERABLE

Provisions for restructuring costs

Prov. for social benefits non actif personnel

Prov. interest due to industrial accidents

Provisions for pending litigations

Period
464.145.284
222.381.000
41.346.000
21.295.422

Nr. 0202.239.951		C 5.9
STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED
INCOME	Codes	اروجة حييبة حميد Period
ANALYSIS BY CURRENT PORTIONS OF AMOUNTS INITIALLY PAYABLE AFTER MORE THAN ONE YEAR
Amounts payable after more than one year, not more than one year
Financial debts	8801	45.650.000
Subordinated loans	8811
Unsubordinated debentures	8821
Leasing and other similar obligations	8831
Credit institutions	8841	45.650.000
Other loans	8851
Trade debts	8861
Suppliers ………………………………………………………………………………………………	8871
Bills of exchange payable	8881
Advance payments received on contracts in progress	8891
Other amounts payable	8901
Total amounts payable after more than one year, not more than one year	(42)	45.650.000
Amounts payable after more than one year, between one and five years
Financial debts	8802	1.258.500.000
Subordinated loans	8812
Unsubordinated debentures	8822	900.000.000
Leasing and other similar obligations	8832
Credit institutions ………………………………………………………………………………………………	8842
Other loans	8852	358.500.000
Trade debts	8862
Suppliers	8872
Bills of exchange payable	8382
Advance payments received on contracts in progress	8892
Other amounts payable	8902
Total amounts payable after more than one year, between one and five years	8912	1,258.500.000
Amounts payable after more than one year, over five years
Financial debts	8803	3.563.347.798
Subordinated loans	8813
Unsubordinated debentures	8323	1.167.192.996
Leasing and other similar obligations	8833
Credit institutions	8843	2.396.154.802
Other loans	8353
Trade debts	8863
Suppliers	8373
Bills of exchange payable	8883
Advance payments received on contracts in progress	8893
Other amounts payable	8903
Total amounts payable after more than one year, over five years	8913	3,563.347.798

Nr.	0202.239.951
-----	--------------

$\langle \sigma_1, \sigma_2 \rangle$ and $\langle \sigma_1, \sigma_2 \rangle$	Codes	Period
AMOUNTS PAYABLE GUARANTEED (headings 17 and 42/48 of liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and other similar obligations	8951
Credit institutions	8961
Other loans	8971
Trade debts	8981
Suppliers	8991
Bills of exchange payable	9001
Advance payments received on contracts in progress	9011
Remuneration and social security	9021
Other amounts payable	9051
Total amounts payable guaranteed by Belgian public authorities	9061
Amounts payable guaranteed by real guarantees given or irrevocably promised by the enterprise on its own assets
Financial debts	8922
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and other 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 guarantees given or irrevocably promised by the enterprise on its own assets	9062
AMOUNTS PAYABLE FOR TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 of the liabilities)
Expired taxes payable	9072
Non expired taxes payable	9073	32.435.259
Estimated taxes payable	450	24.958
Remuneration and social security (heading 454/9 of the liabilities)
Amount due to the National Office of Social Security	9076
Other amounts payable relating to remuneration and social security	9077	136.720.973

Nr. 0202.239.951	C 5.9
ACCRUED CHARGES AND DEFERRED INCOME (4) 大学	Period
Allocation of the heading 492/3 of liabilities if the amount is considerable
Divided and not yet expired interests on loans	55.362.830
Billed rights for subsequent periods	42.276.938
Interests to be carried forward	1.920.841
Accrued charges, holidays not timely taken	5.500.000

$\label{eq:2.1} \mathcal{L}(\mathcal{L}^{\text{max}}{\mathcal{L}}(\mathcal{L}^{\text{max}}{\mathcal{L}})) \leq \mathcal{L}(\mathcal{L}^{\text{max}}{\mathcal{L}}(\mathcal{L}^{\text{max}}{\mathcal{L}}))$

$\hat{\mathbf{r}}$

8.272.121

24.293.617

19

99,0

143.886

3.021.626

OPERATING RESULTS Codes Period Previous period OPERATING INCOME Net turnover Broken down by categories of activity Fixed Line Services 2.595.895.664 2.619.968.834 Allocation into geographical markets Other operating income Total amount of subsidies and compensatory amounts obtained from public 740 authorities .................................... OPERATING COSTS Employees recorded in the personnel register 9086 Total number at the closing date .................................... 13.832 13.920 Average number of employees calculated in full-time equivalents .................................... 9087 12.616,0 12.923,3 Number of actual worked hours .................................... 9088 18.415.650 18.776.339 Personnel costs Remuneration and direct social benefits .................................... 596.229.856 592.011.073 620 126.588.899 121.583.114 Employers' social security contributions .................................... 621 Employers' premiums for extra statutory insurances .................................... 622 18.125.338 14.048.084 Other personnel costs ................................... 623 11.545.840 5.699.953 20.277 Old-age and widows' pensions .................................... 624 Provisions for pensions Additions (uses and write-back) .................................... 635 Amounts written off Stocks and contracts in progress Recorded ................................... 9110 2.132.150 1.903.126 Written back .................................... 9111 2.434.663 2.281.833 Trade debtors Recorded ................................... 9112 96.901.831 94.014.325 Written back .................................... 9113 101.500.357 102.462.080 Provisions for risks and charges 9115 14.916.536 Additions .................................... 10.231.169 Uses and write-back .................................... 9116 11.971.754 23.790.310 Other operating charges

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

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

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

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

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

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

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

640

641/8

9096

9097

9098

617

10.041.723

18.424.191

9

$71.1$

103.849

2.180.819

$\bar{z}$

$\frac{\partial^2}{\partial x^2} \frac{\partial}{\partial y^2} = 0$ .

$\frac{1}{2}$

$\mathbb{R}^{\mathbb{Z}}$

$\frac{1}{2}$

FINANCIAL AND EXTRAORDINARY RESULTS 375437

	Codes	Period	Previous period
FINANCIAL RESULTS
Other financial income
Amount of subsidies granted by public authorities, credited to income for the period
Capital subsidies	9125	10.489	10.489
Interest subsidies	9126
Allocation of other financial income
Exchange profit		875.910	951.989
Financial income from IRS		3.590.908	7.077.608
Amounts written down off loan issue expenses and repayment premiums	6501
Interests recorded as assets	6503
Value adjustments to current assets
Appropriations	6510	34.538.783	33.810.188
Write-backs	6511	309.365	15.485
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 income
Exchange losses realized and unrealized		1.780.539	1.505.420
Interests on IRS		8.920.800	8.920.800
Less value on realisation of own shares		1.682.943	2.120.937

	Period
EXTRAORDINARY RESULTS
Allocation other extraordinary income
Allocation other extraordinary charges
Real costs restructuring (Provision decreased)	98.060.899
Real costs external mobility (Prov ision decreased)	26.936.380
Real costs social benefit for inactif personnel (Provision decreased)	14.066.944

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXE
Income taxes on the result of the current period	9134	5.955
Income taxes paid and withholding taxes due or paid	9135	5.955
Excess of income tax prepayments and withholding taxes recorded under assets	9136
Estimated additional taxes	9137
Income taxes on previous periods	9138
Taxes and withholding taxes due or paid	9139
Estimated additional taxes estimated or provided for	9140
In so far as income taxes of the current period are materially affected by differences between the profit before taxes, as stated in the annual accounts, and the estimated taxable profit
Profit sharing		-12.205.479
Disallowed expenses		33.849.644
Non taxable profits on sale of shares		$-240.805$
Amount written off on shares		84.770.484
Reversal of write off on shares		-11.737.383
Movement of provisions		-99.004.986
Finally taxed revenues		-70.995.688
Hidden reserves		$-3.448.533$
Other		933.747

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

-
Realized gains on shares: - 219.387
- Provisions for liabilities and charges: 3.056.000

• Amounts written off on shares and financial fixed assets: 35.757.680
  - Movements of provisions: -102.435.420

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141	160.092.969
Accumulated tax losses deductible from future taxable profits	9142	160.092.969
Other deferred taxes representing assets
Taxable provisions		469.490.739
Excess depreciation		5.928.302
Taxable write off		1.802.167
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

	Codes	Period	Previous Period
THE TOTAL AMOUNT OF VALUE ADDED TAX AND TAXES BORNE BY THIRD PARTIES
The total amount of value added tax charged
To the enterprise (deductible)	9145	342.308.450	328.039.699
By the enterprise	9146	668.472.918	658.372.674
Amounts retained on behalf of third parties for
Payroll withholding taxes	9147	181.046.838	192.324.152
Withholding taxes on investment income	9148	54,841,693	61.657.369

Nr. 0202.239.951

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

$7.55\%$

	Code	Period
PERSONAL GUARANTEES GIVEN OR IRREVOCABLY PROMISED BY THE ENTERPRISE AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES	9149	69.554.522
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	69.554.522
REAL GUARANTEES
Real guarantees given or irrevocably promised by the enterprise on its own assets as a security of debts and commitments from the enterprise
Mortgages
Book value of the immovable proporties mortgaged	9161
Amount of registration	9171
Pledging on goodwill - amount of registration	9181
Pledging of other assets - Book value of other assets pledged	9191
Guarantees provided on future assets - Amount of assets involved	9201
Real guarantees given or irrevocably promised by the enterprise on its own assets as a security of debts and commitments from third parties Mortgages
Book value of the immovable proporties mortgaged	9162
Amount of registration	9172
Pledging on goodwill - amount of 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
SUBSTANCIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
Tangible and intangible assets		30.043.079
SUBSTANCIAL COMMITMENTS TO DISPOSE FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215	217.192.996
Currencies sold (to be delivered)	9216	217.192.996

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

INFORMATION CONCERNING IMPORTANT LITIGATION AND OTHER COMMITMENTS NOT MENTIONED ABOVE

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

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

$\frac{1}{2}$ in $\frac{1}{2}$

	Code	Period
PENSIONS FUNDED BY THE ENTERPRISE
Estimated amount of the commitments resulting for the enterprise from past services	9220	120.761.000

Methods of estimation

Within the scope of the policy for the management of the staff members Belgacom S.A. de droit public/N.V. van publiek recht has provided a plan under the form of a "defined benefit plan" for complementary pensions (joint industrial committee of October 22nd, 1997).

The rights of the participants of this plan are recognised as from January 1st, 1997. For the execution of these commitments and for the management of the assets that are gathered for this, a "Pensionfund Belgacom O.F.P." has been founded and recognised by R.D. of December 8th, 1998.

In 2006 the plan was amended with effect on January 1st, 2005. On the basis of an actuarial calculation according to the PUCmethod (Project Unit Credit), based on a real discount rate of 3.5 % and the expected evolution of the salaries, the total amount of DBO (Defined Benefit Obligation) obligations to the staff members of Belgacom S.A. de droit public/N.V. van publiek recht amounts to 120,761,000 EUR on December 31st, 2009.

The amount of obligations of this fund (Belgacom S.A. de droit public/N.V. van publiek recht including some subsidiaries among which Belgacom Mobile S.A./N.V.) amounts to 189,931,000 EUR on December 31st, 2009. The fund is funded on the basis of the annual periodic cost, also calculated according to the PUC-method. On December 31st, 2009 the total assets of this fund amount to 167,226,000 EUR.

NATURE AND BUSINESS PURPOSE OF OFF-BALANCE SHEET ARRANGEMENTS

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

0202.239.951

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET:

$\bar{z} = \bar{z}$ .

Commitments:

Interest rates swaps Rent commitments buildings Granted share options	144,000,000 82,786,494 20,253,181
Received guarantees:
to cover Belgacom S.A. de droit public/N.V. van publiek recht
from banks (bank guarantees)	21.745.942
to cover commitments from third parties towards Belgacom S.A. de droit public/N.V. van publiek recht
from banks (bank guarantees)	20,559,250
on blocked bank accounts	741,763
as deposit at the "Caisse des Dépôts et Consignation"	344,700
Rights:
Credit line "Evergreens" long term	755,000,000
Credit line "Evergreens" short term	100,000,000
Credit line at Belgacom Group International Services S.A.	371,840,287
Right of emission of commercial papers	1,000,000,000
Right of emission of Euro Medium Term Notes	2,500,000,000

Belgacom has a right, established by Belgian legislation with respect to Universal Services, to receive a compensation for offering Social Tariffs as from July 1^st, 2005. This right is contested by some operators and the this Belgian legislation.

Belgacom has issued a parent guarantee to cover for the unlimited obligations of Belgacom Skynet towards important distributors of movies.

$\mathcal{L}_{\mathcal{A}}$

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Previous period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	9.403.668.081	13.427.985.834
$Investments … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … …$	(280)	9.403.668.081	13.311.431.237
Amounts receivable subordinated	9271
Other amounts receivable	9281		116.554.597
Amounts receivable	9291	4.117.773.572	165.750.398
After one year	9301	1.203.223	1.194.974
Within one year	9311	4.116,570.349	164.555.424
Current investments	9321	10.156.404	8.843.491
Shares	9331
Amounts receivable	9341	10.156.404	8.843.491
Amounts payable	9351	9.790.133.229	9.060.597.282
After one year	9361	2.754.654.802	2.441.804.802
Within one year	9371	7.035.478.427	6.618.792.480
Personal and real guarantees
Provided or irrevocably promised by the enterprise, as security for debts or commitments of affiliated enterprises	9381	39.273.294	44.942.211
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391
Other substancial financial commitments	9401
Financial results
Income from financial fixed assets	9421	74.732.303	130.000.000
Income from current assets	9431	99.207	373.727
Other financial income	9441	215.025	515.375
Debts charges	9461	206.200.482	388.703.109
Other financial charges www.musummun.musummun.musummun.musummun.musu.	9471
Gains and losses on disposal of fixed assets
Obtained capital gains	9481
Obtained capital losses	9491
NTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets www.communicality.com/news/communicality.com/news/communicality.com/news/	(282/3)	2.000.000
Investments	(282)	2.000.000
Amounts receivable subordinated	9272
Other amounts receivable	9232
Amounts receivable	9292
After one year	9302
Within one year	9312
Amounts payable	9352	6
After one year	9362
Within one year	9372	6

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATING INTERESTS

TRANSACTIONS WITH RELATED PARTIES OUTSIDE NORMAL MARKET CONDITIONS

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

$\frac{1}{2} \frac{1}{2} \frac{1}{2} \frac{1}{2} \frac{1}{2}$

Nr. 0202.239.951
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FINANCIAL RELATIONSHIPS WITH

	Codes	Period
DIRECTORS AND MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS, OTHER ENTERPRISES CONTROLLED BY THE SUB B. MENTIONED PERSONS WITHOUT BEING ASSOCIATED THEREWITH
Amounts receivable from these persons	9500
Conditions on amounts receivable
Guarantees provided in their favour	9501
Guarantees provided in their favour - Main condition
Other significant commitments undertaken in their favour	9502
Other significant commitments undertaken in their favour - Main condition
Amount of direct and indirect remunerations and pensions, included in the income statement, as 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

$\frac{1}{2}$ ,

$\mathcal{O}(\frac{1}{2}m^2\hbar^2)$

$\ddot{\phantom{a}}$

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO
Auditor's fees ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,	9505	458.755
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061	38.520
Tax consultancy	95062
Other missions external to the audit	95063	287.569
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

Mention related to article 133 paragraph 6 from the Companies Code

Infrigement on the obligation of the limitation of the fees with regard to services other than the assignments that are assigned to the
Auditor by law: Not applicable

Nr.	.951
	DERIVATIVES NOT MEASURED AT FAIR VALUE the state from the -		.

FAIR VALUE OF FINANCIAL DERIVATIVES NOT MEASURED AT FAIR VALUE WITH INDICATION ABOUT THE NATURE AND THE VOLUME OF THE INSTRUMENTS

Profit 2 IRS and 3 ICRS measured at fair value

Period
25.186.091

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

INFORMATION THAT MUST BE PROVIDED BY EACH COMPANY, THAT IS SUBJECT OF COMPANY LAW ON THE CONSOLIDATED ANNUAL ACCOUNTS OF ENTERPRISES

The enterprise has drawn up publiced a consolidated annual statement of accounts and a management report*

The enterprise has not published a consolidated annual statement of accounts and a management report, since it is exempt for this obligation for the following reason*

The enterprise and its subsidiaries on consolidated basis exceed not more than one of the limits mentioned in art. 16 of Company Law^*

The enterprise itself is a subsidiary of an enterprise which does prepare and publish consolidated accounts, in which her yearly statement of accounts is included*

If yes, justification of the compliance with all conditions for exemption set out in art. 113 par. 2 and 3 of Company Law:

Name, full address of the registered office and, for an enterprise governed by Belgian Law, the company number of the parent company preparing and publishing the consolidated accounts required:

INFORMATION TO DISCLOSE BY THE REPORTING ENTERPRISE BEING A SUBSIDIARY OR A JOINT SUBSIDIARY

Name, full address of the registered office and, for an enterprise governed by Belgian Law, the company number of the parent company(ies) and the specification whether the parent company(ies) prepare(s) and publish(es) consolidated annual accounts in which the annual accounts of the enterprise are included**

If the parent company(ies) is (are) (an) enterprise(s) governed by foreign law disclose where the consolidated accounts can be obtained**

Delete where no appropriate.

Where the accounts of the enterprise are consolidated at different levels, the information should be given for the consolidated aggregate at the highest level on the one hand and the lowest level on the other hand of which the enterprise is a subsidiary and for which consolidated accounts are prepared and published.

SOCIAL REPORT

Numbers of joint industrial committees which are competent for the enterprise:

$\frac{1}{2}$ , which is

STATEMENT OF THE PERSONS EMPLOYED EMPLOYEES RECORDED IN THE STAFF REGISTER

During the period and the previous period	$\sf{Codes}$	1. Full-time	2. Part-time	3. Total (T) or total of full-time equivalents (FTE)	3P. Total (T) or total of full-time equivalents (FTE)
		(perioa)	(period)	(period)	(previous period)
Average number of employees	100	10.055.6	3.789.5	(FTE) 12.616.0	$($ FTE) 12.923.3
Number of hours actually worked	101	14.806.426	3.609.224	18.415.650 (T)	18,776.339 (T)
Personnel costs	102	627.187.989	137.507.422	764.695.411 (T)	740.361.266 (T)
Advantages in addition to wages	103	XXXXXXXXXXXXXXX	XXXXXXXXXXXXXX	$15.845.367$ (T)	15.484.069 (T)

At the closing date of the period	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
Number of employees recorded in the personnel register	105	10.100	3.732	12.610.6
By nature of the employment contract
Contract for an indefinite period	110	9.549	3.729	12.0578
Contract for a definite period	111	508	1	508.8
Contract for the execution of a specifically assigned work	112
Replacement contract	113	43	$\overline{2}$	44.0
According to the gender and by level of education
Male	120	7.534	2.223	9.033,7
primary education	1200
secondary education	1201	3.836	1.731	5.009.6
higher education (non-university)	1202	1.633	322	1.848.9
university education	1203	2.065	170	2.175.2
Female	121	2.566	1.509	3.576.9
primary education	1210
secondary education	1211	1.226	1.171	1.992.7
higher education (non-university)	1212	586	222	743.8
university education	1213	754	116	840.4
By professional category
Management staff	130	117		117.0
Employees	134	8.206	2.730	10.038.9
Workers	132	1.521	1.001	2.197.9
Other	133	256	1	256.8

$\mathcal{A}_4$

$\overline{a}$

l.

	Nr. 0202.239.951
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HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE ENTERPRISE'S DISPOSAL

During the period	⊦Codes !	1. Temporary personnel	2. Persons placed at the disposal of the enterprise
Average number of employees	150	71.1
Number of hours actually worked	151	103.849
Charges of the enterprise	152	2.180.819

TABLE OF PERSONNEL CHANGES DURING THE PERIOD

ENTRIES	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
Number of employees recorded on the personnel register during the financial year .	205	634	506	1.038,8
By nature of the employment contract
Contract for an indefinite period	210	242		242.8
Contract for a definite period	211	391	505	795,0
Contract for the execution of a specifically assigned work.	212
Replacement contract	213			1.0

DEPARTURES	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
The number of employees with a in the staff register listed date of termination of the contract during the period	305	582	618	1.036,7
By nature of the employment contract
Contract for an indefinite period	310	308	110	357,2
Contract for a definite period	311	260	508	665,5
Contract for the execution of a specifically assigned work	312
Replacement contract	313	14		14,0
According to the reason for termination of the employment contract
Retirement	340	37	16	48,0
Early retirement	341
Dismissal	342	85	3	87,4
Other reason	343	460	599	901,3
Of which the number of persons who continue to render services to the enterprise at least half-time on a self-employed basis	350

$C_6$

$\frac{1}{2} \left( \frac{1}{2} \right)$

$\bar{z}$

INFORMATION WITH REGARD TO TRAINING RECEIVED BY EMPLOYEES DURING THE PERIOD

Total number of official advanced professional training projects at company expense	Codes	Male	Codes	Female
Number of participating employees	5801	8.072	5811	3.010
Number of training hours	5802	200.106	5812	62.499
Costs for the company	5803	17.805.095	5813	5.561.056
of which gross costs directly linked to the training	58031	17.573.089	58131	5.488.594
of which paid contributions and deposits in collective funds	58032	232.006	58132	72.462
of which received subsidies (to be deducted)	58033		58133
Total number of less official and unofficial advance professional training projects at company expense
Number of participating employees	5821	2.463	5831	1.029
Number of training hours	5822	5.351	5832	2.606
Costs for the company	5823	476.123	5833	231.878
Total number of initial professional training projects at company expense
Number of participating employees	5841		5351
Number of training hours	5842		5852
Costs for the company	5843		5853

N۰	0202.239.951				C 6
SOCIAL REPORT	$2 - 100 - 6$			$\mathfrak{g}=\mathfrak{m}(\mathfrak{g})_{\mathbb{Z}}$ . Then
Note to codes 110, 210 and 310
These codes can be divided in:		a. statutory staff b. contractually staff
Code 110 :	Codes	1.Full-fime	2 Part-time	3. Total Full-time equivalents
Statutory staff Contractually staff	code 110 code 110	5.623 3.926	2.940 789	7.581,7 4.476,1
Code 210:	Codes	1.Full-time	2 Part-time	3. Total Full-time equivalents
Statutory staff Contractually staff	code 210 code 210	6 236	0 1	6,0 236,8
Code 310:	Codes	1.Full-time	2.Part-time	3. Total Full-time equivalents
Statutory staff Contractually staff	code 310 code 310	200 108	78 32	236,9 120,3

Numbers of joint industrial committees which are competent for the enterprise :
Belgacom N.V. van publiek recht/S.A. de droit public has her own national joint industrial committee.

Code 102

j,

The code 102 of the social report contains the personnel charges for the personnel recorded in the personnel register, more specifically:

the charges taken in section 62 excluding those attributed to retirees ;
the part of the profit that is legally and statutory allocated to the personnel by the appropriation of the profit. $\frac{1}{2}$

VALUATION RULES

The valuation rules comply with the terms of Chapter II of the R.D. of Jan 30, 2001.

These rules were approved and adapted by the Board of Directors at their meetings on May 27, 1993, Dec 4, 1997, Oct 22, 1998, Oct 28, 1999, Oct 26, 2000, April 25, 2002, Oct 23, 2003, Dec 13, 2004 and Dec 18, 2008.

BALANCE SHEET

FORMATION EXPENSES

The loan issue expenses are charged entirely to the year during which they are issued. Important formation expenses are capitalised and depreciated over a period of 5 years. The acquisitions of the year are depreciated pro rata temporis. Reorganisation costs are expensed.

INTANGIBLE ASSETS

The intangible assets are valued at the acquisition cost: this is the purchase price, production cost or the assigned value. General expenses are not incorporated.

Rights to use, which are booked on the balance sheet as intangible assets, are subject to straight -line depreciation over a period from 2 to 25 years.

Application software is depreciated over a period of 5 years.

Goodwill is depreciated over a period of 5 years.

The acquisitions of the year are depreciated pro rata temporis.

TANGIBLE ASSETS

Tangible assets are valued at their acquisition cost that being their purchase price, production cost or the assigned value. General expenses are not incorporated.

Fixed assets with a limited useful life are depreciated at a fixed rate using the following plan, established on the basis of economic criteria:

TANGIBLE ASSETS	LIFE PERIOD (in years)
Building and constructions	$3 - 33$
Cables	$8 - 20$
Switching	$4 - 10$
Equipment installed at the client	$2 - 5$
Transmission	$3 - 10$
Other tangible assets	$2 - 10$
Furniture and office machines	$3 - 10$
Vehicles	5
Fixed assets held under leasing or other similar rights are depreciated according to the life period of the real property as mentioned in the contract.
Assets under construction and advance payments are depreciated over the life period of the assets to which they relate.
Fixed assets that are put out of order are valued at net book value or at their expected realisation value if lower. They are no longer depreciated.

The acquisitions of the year are depreciated pro rata temporis.

FINANCIAL ASSETS

Participating interests and shares are valued at their acquisition cost, which is the purchase price or the assigned value. Only the important ancillary costs are capitalised.

Amounts are written down if a durable permanent impairment or reduction in value of these assets is observed, based on the financial situation, the profitability or the prospects of the company in which the participating interests or shares are held, taking into account the CBN/CNC advice n° 126-8.

Receivables are booked at their nominal value. An amount is written down when, at the due date, the payment is partially or entirely uncertain.

AMOUNTS RECEIVABLE AFTER MORE THAN ONE YEAR

Amounts receivables are booked at nominal value. Amounts receivable expressed in foreign currencies are converted to EUR at the rate in force on the date of booking of the outgoing invoice and are translated at the year-end rate.

A write down is recorded on the nominal value when at the due date, the payment is partially or entirely uncertain.

STOCKS AND CONTRACTS IN PROGRESS

Inventories of consumables and goods for resale are booked at their acquisition cost.

At the time of the annual inventory, the Weighted Average Price method is used to assess the various subdivisions in this caption.

Supplementary write down is applied to take into consideration either the evolution of the sales or market value, or the risks inherent in the nature of the products.

Contracts in progress and work in process are valued at production cost or at market price (if this is lower than the production cost).

AMOUNTS RECEIVABLE WITHIN ONE YEAR

These amounts appear on the balance sheet at nominal value.

A write down is recorded on the nominal value when at the due date, the payment is partially or entirely uncertain

Amounts receivable expressed in foreign currencies are converted into EUR at the rate in force on the date of entry of the outgoing invoice. At balance date they are translated at closing rate. Amounts receivable from foreign telecommunication operators concerning accounts for

telecommunication traffic in gold francs are translated in EUR on the basis of the rate of the Special Drawing Rights in effect on the closing date of the balance sheet via the Gold Franc/Special Drawing Rights exchange rate.

INVESTMENTS

Investments are valued at nominal value when they concern funds held in financial institutions and at acquisition cost, acquisition price without ancillary costs, in the other case.

A write-down is recorded on the nominal value or on the acquisition cost when the sales value on the closing date of the balance sheet is less than the previously booked value.

Investments in foreign currencies are translated into EUR at the rate in force on the closing date of the balance sheet.

CASH AT BANK AND IN HAND

Cash at bank and in hand is valued at nominal value. A write-down is recorded on the nominal value when the realisation value on the closing date of the balance sheet is less than the previously booked value. Cash at bank and in hand in foreign currencies is translated into EUR at the rate in force on the closing date of the balance sheet.

PROVISIONS AND DEFERRED TAXES

On the closing date of the balance sheet, an inventory is made of all foreseeable liabilities and contingent losses arising during the current year or during prior years. Provisions are established based on a fair estimate of the risk on the moment of the establishment of the annual accounts.

Deferred taxes are booked in compliance with Art 76 of the Royal Decree of January 30 2001.

AMOUNTS PAYABLE AFTER MORE AND WITHIN ONE YEAR

Amounts payables appear on the balance sheet at nominal value.

Amounts payable in foreign currencies are converted into EUR as follows:

• loans in foreign currencies at the rate in force at the time the loan is concluded.
• amounts payable to foreign telecommunication operators concerning accounts for telecommunication traffic in Gold Francs are translated in EUR on the basis of the rate of the Special Drawing Rights in effect on the date of the closing date of the balance sheet via the Gold Franc/Special Drawing Rights exchange rate.
• trade debts at the exchange rate on the date of entry of the incoming invoice.

Amounts payable (trade debts), debts to credit institutions and not covered loans, expressed in foreign currencies, are translated at closing rate.

TRANSLATION DIFFERENCES

Only the negative differences for each foreign currency resulting from the translation are taken in the Income Statement. The positive differences are booked in the balance sheet in the caption "accrued charges and deferred income".

INCOME STATEMENT

The items in the income statement are valued at nominal value. Own construction is booked at production cost excluding indirect costs.

RIGHT AND COMMITMENTS NOT ACCRUED IN THE BALANCE SHEET

The rights and commitments not accrued in the balance sheet are mentioned in the notes, per category, at the nominal value of the commitment in the contract, or failing that, at their estimated value.

SUPPLEMENTARY INFORMATION

APPROPRIATION ACCOUNT AND EVOLUTION OF THE RESERVES NOT AVAILABLE FOR DISTRIBUTION

The profit to be appropriated amounts to 245.749.000 EUR in 2009. The appropriation of this amount is as follows:

• 5 % of the net profit is appropriated to the legal reserve. Since this obligation expires when the legal reserve reaches 10 % of the Capital, limit that has been reached in the mean time, no appropriation to the legal reserve is booked:
• 12,205,479 EUR to be distributed to the management and the personnel, pursuant to article 44 of the bylaws;
• 673,404,786 EUR of dividends:
• 6,526,245 EUR of these dividends relate to own shares and this amount has been appropriated to the other reserves (unavailable for distribution);
• 666,878,541 EUR will be paid out to the shareholders. On December 4^th 2009 an interim dividend of 128.145.873 EUR has been paid.

Furthermore the dividends have been increased with 318,330 EUR as a result of dividend pay out during 2009 in the framework of share options. Thus the total dividends for 2009 amount to 667,196,871 EUR as decided by the General Assembly, at the suggestion of the Board of Directors;

440.179.195 EUR to transfer from the reserves available for distribution, given the fact that the dividends (667,196,871 EUR), the distribution to the management and the personnel (12,205,479 EUR) and the appropriation to the other reserves (6,526,245 EUR) exceed the profit to be appropriated.

A SUMMARY of the accounts relative to the PUBLIC SERVICE DUTIES (obligation stipulated by art. 27 of the law of March 21, 1991).

Article 155 of the law of June 13, 2005 with regard to the electronic communication has cancelled the chapter V, that treats the public telecommunication service (being the tasks of public service), of the law of March 21st, 1991 and has been replaced by the provisions of chapter I, that treats the universal service (art. 68 to 104 included) of title IV of the new law. However, article 86ter of the law of March 21st, 1991 has been preserved and taken over as such under chapter II - Supplementary services of title IV of the law of June 13, 2005 (art. 105 to 107 included). The figures below contain the assignment of the public services as defined in the articles of the law and in the articles 4 to 9 included in the management contract.

1. Operating income	3,463,217 EUR
2. Operating charges	3,737,048 EUR
Operating result (loss)	(273,831) EUR

The calculations were made based on a cost model developed by Belgacom S.A. de droit public/N.V. van publiek recht for the products that meet the requirements of the management contract and based on business economic criteria taking into account the expected life span of the products.