40 Nr. Date of the deposition	No. 0202.239.951	1 PP. E.	EUR D.
		ANNUAL ACCOUNT IN EURO
NAME:
BELGACOM
Legal form: S.A. de droit public
Address: Boulevard du Roi Albert II-Koning Albert II laan				Nr.: 27
Postal Code: 1030	City: Brussel 3
Country: Belgium
Register of Legal Persons (RLP) - Office of the commercial court at: Bruxelles Internet address :

			Company number:	0202.239.951
		13/04/2011
ANNUAL ACCOUNT approved by the General Meeting of

		01/01/2010	till	31/12/2010
	Previous period from	01/01/2009	till	31/12/2009






concerning the financial year covering the period from. 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 : Chairman Dikkemeerweg 54, 1653 Dworp, Belgium Title : President of the board of directors










Enclosed to these annual accounts:

$\hat{r}$ , $\hat{r}$ , and $\hat{r}$ , and $\hat{r}$

Total number of pages deposited:	Number of the pages of the standard form not deposited for not being
of service: 8,9 Signature
(name ánd pošitíon)	س Signaure (name and position)
BELLENS Didier	DILISSEN Theo
$\sim$ $\sim$ $\sim$ $\sim$ $\sim$ $\sim$ $\sim$ $\sim$	And the Contract Chairman Board of Directors
Optional statement.

$\mathcal{L}^{1,2}_{\mathcal{M}}(\omega)$

$\sim$

** Delete where appropriate.

0202.239.951

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

DUREZ Martine, Chairman of Board of Directors of bpost Avenue Saint-Pierre 34, 7000 Mons, BELGIUM Director
LAMOTE Mimi, Vice President GrandVision B.V. Kerkstraat 122, 9140 Tielrode, BELGIUM Director
MOLL Michel, Director of Companies Avenue des Châtaignes 13B, 1950 Kraainem, BELGIUM Director
SIOEN Michèle, CEO Sioen Industries S.A. Astridlaan 14, 8300 Knokke, BELGIUM Director
VAN de PERRE Paul, CEO Five Financial Solutions Leliestraat 80, 1780 Dilbeek, BELGIUM Director

Representatives of shareholders other than the Belgian State;

CORNU Jozef, Director of Companies 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 28 bus 1, 8400 Oostende, BELGIUM Director
DOUTRELEPONT Carine, Lawyer Doutrelepont & Partners, Professor ULB Avenue Bois du Dimanche 21b, 1150 Bruxelles, BELGIUM Director
JACOBS Georges, Chairman of Board of Directors Delhaize S.A. Poverstraat 5, 1785 Brussegem, BELGIUM Director
SHAFFER Oren G., Director of Companies 50 S. Steele Street, Suite 805, CO 80209 Denver, UNITED STATES OF AMERICA Director
VAN den BERGHE Lutgart, Executive-Director Guberna & Vierick Leuven Gent Management School Sparrenstraat 7, 9950 Waarschoot, BELGIUM Director

$N^{\bullet}$	0202.239.951
		LIST OF DIRECTORS, MANAGERS AND AUDITORS (continuation of the previous page)
	Berkenlaan 8b, 1831 Diegem, BELGIUM Chairman of the Board of Auditors Company number: BE 0429.053.863	DELOITTE, Réviseurs d'entresprises S.C. s.f.d. S.C.R.L Number of membership with the institute of Auditors: B00025
Auditor	represented by G. Verstraeten Berkenlaan 8b, 1831 Diegem, BELGIUM	Number of membership with the institute of Auditors: A01481
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	CALLAERT Luc S.C. s.f.d. S.P.R.L.U Zwaluwstraat 132, 1840 Londerzeel, BELGIUM Company number: BE 0463.716.022	Number of membership with the Institute of Auditors: B00342
Auditor	Represented by L. Callaert Zwaluwstraat 132, 1840 Londerzeel, BELGIUM	Number of membership with the institute of Auditors: A01123

$\begin{minipage}{0.9\linewidth} \begin{tabular}{l} \hline \textbf{1} & \textbf{2} & \textbf{3} & \textbf{4} & \textbf{5} & \textbf{6} & \textbf{6} & \textbf{7} & \textbf{8} & \textbf{9} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10} & \textbf{10$

	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.

The annual accounts have/ have not * been audited or adjusted by an external accountant or auditor who is not a statutory auditor.

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 $(A, B, C \text{ and/or } D)$

Optional disclosure.

Delete where appropriate.

BALANCE SHEET

$C$ 2.1

$\cdots$ ----

	Notes	Codes	Period	Previous period
ASSETS
FIXED ASSETS		20/28	14.867.684.333	11.129.449.201
Formation expenses	5.1	20
Intangible fixed assets	5.2	21	4.984.331.071	131.155.383
Tangible fixed assets	5.3	22/27	1.896.876.833	1.592.190.128
Land and buildings		22	225.625.586	191.171.433
Plant, machinery and equipment		23	1.575.290.328	1.362.646.217
Furniture and vehicles		24	36.133.466	23.303.778
Leasing and other similar rights		25
Other tangible fixed assets		26	59.827.453	15.068,358
Assets under construction and advance payments		27		342
	5.4/
Financial fixed assets	5.5.1	28	7.986.476.429	9.406.103.690
Affiliated enterprises	5.14	280/1	7.957.644.661	9.403.668.081
Participating Interests		280	7.957.644.661	9.403.668.081
Amounts receivable		281
Other enterprises linked by participating interests	5.14	262/3	3.465.416	2.000.000
Participating interests		282	3.465.416	2.000.000
Amounts receivable		283
Other financial assets		284/8	25.366.352	435.609
Shares		284	23.646.826
Amounts receivable and cash guarantees		285/8	1,719.526	435,609
CURRENT ASSETS		29/58	1.430.634.142	5.061.526.849
Amounts receivable after more than one year		29	1.213.946	1.203.223
Trade debtors		290
Other amounts receivable		291	1.213.946	1.203.223
Stocks and contracts in progress		3	88.958,327	37.801.214
Stocks		30/36	71.718.906	37.676.805
Raw materials and consumables		30/31	25.695.303	20.997.197
Work in progress		32	19.999	65,558
Finished goods		33
Goods purchased for resale		34	46.003.604	16.614.050
Immovable property intended for sale		35
Advance payments		36
Contracts in progress	5.5.1/	37	17.239.421	124.409
Amounts receivable within one year	5.6	40/41	871.487.862	4.516.002.972
Trade debtors		40	834.375.678	498.027.778
Other amounts receivable		41	37.112.184	4.017.975.194
Current investments		50/53	425.863.281	451.638.020
Own shares		50	415.630.162	440.853.263
Other investments and deposits		51/53	10.233.119	10.784.757
Cash at bank and in hand		54/58	4.993.100	3.013.955
Deferred charges and accrued income	5.6	490/1	38.117.626	51.867.465
TOTAL ASSETS		20/58	16,298,318,475	16,190.976.050

0202.239.951 Nr.				$C$ 2.2
EQUITY AND LIABILITIES	Notes	Codes	Period	Previous period
EQUITY	فالمرابط	10/15	2.002.534.535	2.404.976.157
Capital Issued capital Uncalled capital Share premium account	5.7	10 100 101 11	1.000.000.000 1.000.000.000	1.000.000.000 1.000.000.000
Revaluation surpluses Reserves		12 13	1.002.024.515
Legal reserve				1.404.890.077
Reserves not available $\ldots$ In respect of own shares held		130 131 1310	100,000,000 455.076.714 455.076.714	100.000.000 477.829.817 477.829.817
Other		1311
Untaxed reserves Available reserves		132 133	13,795,500 433.152.301	13.993.392 813.066.868
Accumulated profits (losses)		14
Investment grants		15	510.020	86.080
Advance to associates on the sharing out of the assets www.communication.com/		19
PROVISIONS AND DEFERRED TAXES		16	725.037.172	813.527.347
Provisions for liabilities and charges		160/5	720.152.911	808.543.649
Pensions and similar obligations		160	280.000
Taxation		161
Major repairs and maintenance		162
Other liabilities and charges	5.8	163/5	719.872,911	808.543.649
Deferred taxes		168	4.884.261	4.983.698
AMOUNTS PAYABLE		17/49	13.570.746.768	12.972.472.546
Amounts payable after more than one year	5.9	17	9.699.756.093	4.821.847.798
Financial debts		170/4	9.629.860.511	4.821.847.798
Subordinated loans		170
Unsubordinated debentures		171	1.267.205.709	2.067.192.996
Leasing and other similar obligations		172
Credit institutions		173	7.904.154.802	2.396.154.802
Other loans		174	458.500.000	358.500.000
Trade debts		175	69.895.582
Suppliers		1750	69.895.582
Bills of exchange payable		1751
Advances received on contracts in progress ,		176
Other amounts payable		178/9
Amounts payable within one year		42/48	3.677,484,754	8.045.564.139
Current portion of amounts payable after more than one year falling due within one year	59	42	852.350.109	45.650.000
Financial debts		43	1.329.460.845	6.905.501.357
Credit institutions		430/8	1,327,225.845	6,905,501,357
Other loans		439	2.235.000
Trade debts		44	565,011.796	348.362.008
Suppliers		440/4	565.011.796	348.362.008
Bills of exchange payable		441
Advances received on contracts in progress		46	9.605.585	21.034.694
Taxes, remuneration and social security	5.9	45	347.292.300	169.181.190
$T$ axes $\ldots$		450/3	161.966.163	32.460.217
Remuneration and social security		454/9	185.326.137	136.720.973
Other amounts payable		47/48	573,764.119	555,834.890
Accrued charges and deferred income	5.9	492/3	193.505.921	105.060.609
TOTAL LIABILITIES ² 1		10/49	16.298.318.475 جنبيب	16.190,976.050

$\langle \rangle$

$\frac{1}{2}$

$\ddot{\phantom{a}}$

INCOME STATEMENT

	Notes	Codes	Period	Previous period

Operating income		70/74	4.762.846.788	2.881.320.731
Turnover		70	4.449.652.838	2.595.895.664
Increase (decrease) in stocks of finished goods, work and contracts in progress (+)/(-)		71	83.610	$-86.699$
Own construction capitalised		72	253.092.042	177.796.534
Other operating income		74	60.018.298	107.715.232
Operating charges		60/64	3.881.435.089	2.299.520.029
Raw materials, consumables		60	451.419.656	237 240,930
Purchases $\ldots$		600/8	456.218.801	230.715.964
Decrease (increase) in stocks		609	$-4.799.145$	6.524.966
Services and other goods		61	1.545.214.791	919 142.635
Remuneration, social security costs and pensions (+)/(-)	5.10	62	926.364.580	752.510.210
Depreciation of and amounts written off formation expenses, intangible and tangible fixed assets		630	902.476.368	368.801.964
Amounts written down stocks, contracts in progress and trade debtors - Appropriations (write-backs) (+)/(-)	5.10	631/4	8.122.801	-4.901.039
Provisions for risks and charges - Appropriations (uses and write-backs)	5.10	635/7	9.352.609	$-1.740.585$
Other operating charges	5.10	640.8	38.484.284	28.465.914
Operation charges carried to assets as restructuring COSts		649
Operating profit (loss)		9901	881.411.699	581.800.702
Financial income		75	34.409.741	82.966.198
Income from financial fixed assets		750	21.600.000	76.683.449
income from current assets		751	1.185.910	1.110.934
Other financial income		752/9	11 623.831	5.171.815
Financial charges		65	446.032.332	354.113.037
Debt charges		650	419.383.041	305.517.465
Amounts written down on current assets except stocks, contracts in progress and trade debtors		651	$-160.067$	34.229.418
Other financial charges		652/9	26.809.358
				14.366.154
Gain (loss) on ordinary activities before taxes (+)/(-)		9902	469.789.108	310.653.863

$\hat{\mathcal{L}}$ , $\hat{\mathcal{L}}$

$\sqrt{C}$ 3

$\overline{C}$ 3

	Codes	Period	Previous period

Extraordinary income	76	135.835.384	12,670,354
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	124,605,932	11.737.383
Write-back of provisions for extraordinary liabilities and charges	762
Gains on disposal of fixed assets	763	6.192.071	219.387
Other extraordinary income	764/9	5 037.381	713.584
Extraordinary charges	66	152.080.496	79.214.644
Extraordinary depreciation of and extraordinary amounts written off formation expenses, intangible and tangible fixed assets	660	39.269
Amounts written down financial fixed assets	661	2.486.111	47.495.063
Provisions for extraordinary liabilities and charges - Appropriations (uses)	662	-105.819.255	$-108.779.238$
Loss on disposal of fixed assets	663	120.103.883
Other extraordinary charges 5.11	664/8	135.270.488	140.498.819
Extraordinary charges carried to assets as restructuring costs	669
Profit (loss) for the period before taxes	9903	453.543.996	244.109.573
Transfer from postponed taxes	780	336.991	323.133
Transfer to postponed taxes	680	237.555
Income taxes	67/77	129.884.545	5.955
Income taxes	670/3	137.017.065	5.955
Adjustment of income taxes and write-back of tax provisions	77	7.132.520
Profit (loss) for the period	9904	323.758.887	244.426.751
Transfer from untaxed reserves	789	617.049	1.367.049
Transfer to untaxed reserves	689	6.656	44,400
Profit (loss) for the period available for appropriation $(+)/(-)$	9905	324.369.280	245.749.400

APPROPRIATION ACCOUNT

	Codes	Perlod	Previous period
Profit (loss) to be appropriated $\ldots$	9906	324.369.280	245.749.400
Gain (loss) to be appropriated	(9905)	324.369.280	245.749.400
Profit (loss) to be carried forward	14P
Transfers from capital and reserves	791/2	408.630.269	440.179.195
from capital and share premium account	791
from reserves	792	408.630.269	440.179.195
Transfers to capital and reserves	691/2	6.836.440	6.526,245
to capital and share premium account	691
to the legal reserve	6920
to other reserves	6921	6.836.440	6.526.245
Profit (loss) to be carried forward	(14)
Owner's contribution in respect of losses	794
Profit to be distributed	694/6	726.163.109	679.402.350
Dividends	694	703.485.909	667.196.871
Director's or manager's entitlements	695
Other beneficiaries	696	22.677.200	12.205.479

$\sim$ $\omega$

$\sqrt{C}$ 4

$\ddot{\phantom{1}}$ .

$\mathcal{A}^{\mathcal{A}}{\mathcal{A}}$ and $\mathcal{A}^{\mathcal{A}}{\mathcal{A}}$ and $\mathcal{A}^{\mathcal{A}}_{\mathcal{A}}$

$\mathcal{L}^{\text{max}}{\text{max}}$ , $\mathcal{L}^{\text{max}}{\text{max}}$

$\ldots$

	Codes	Period	Previous period
CONCESSIONS, PATENTS, LICENCES, KNOWHOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	XXXXXXXXXXXXXXX	489.188.220
Movements during the period
Acquisitions, including produced fixed assets	8022	1,377,474,199
Sales and disposals	8032	137.661.655
Transfers from one heading to another	8042
Acquisition value at the end of the period	8052	1.729.000.764
Depreciation and amounts written down at the end of the period	8122P	XXXXXXXXXXXXX	358,113,606
Movements during the period
Recorded	8072	147.927.862
Written back	8032
Acquisitions from third parties	8092	868.859.013
Cancelled owing to sales and disposals	3102	137.252.240
Transfers from one heading to another	8112
Depreciation and amounts written down at the end of the period	8122	1.237.648.241
NET BOOK VALUE AT THE END OF THE PERIOD	211	491 352.523

Nr.	0202.239.951
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	Codes	Period	Previous period
GOODWILL

Acquisition value at the end of the period	8053P	XXXXXXXXXXXXXX	116.140.177
Movements during the period
Acquisitions, including produced fixed assets	8023	4.819.309.872
Sales and disposals	8033
Transfers from one heading to another	8043
Acquisition value at the end of the period	8053	4.935.450.049
Depreciation and amounts written down at the end of the period	8123P	XXXXXXXXXXXXXX	116,059,409
Movements during the period
Recorded	8073	326.412.092
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	442.471.501
NET BOOK VALUE AT THE END OF THE PERIOD	212	4.492.978.548

Nr.	0202.239.951
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STATEMENT OF TANGIBLE FIXED ASSETS

	Codes	Period	Previous period

LAND AND BUILDINGS

Acquisition value at the end of the period	8191P	XXXXXXXXXXXXXX	360.478.614
Movements during the period
Acquisitions, including produced fixed assets	8161	72.724.808
Sales and disposals	8171	6.850.762
Transfers from one heading to another	8181	21.592
Acquisition value at the end of the period	8191	426.374.252
Revaluation surpluses at the end of the period	8251P	XXXXXXXXXXXXXX
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
		XXXXXXXXXXXXXX	169.307.181
Depreciation and amounts written down at the end of the period	8321P
Movements during the period
Recorded	8271	12.764.168
Written back	8281
Acquisitions from third parties	8291	21.957.910
Cancelled owing to sales and disposals	8301	3.280.593
Transfers from one heading to another	8311
Depreciation and amounts written down at the end of the period	8321	200.748.666
NET BOOK VALUE AT THE END OF THE PERIOD	(22)	225.625.586

$\mathcal{A}^{\text{max}}{\text{max}}$ and $\mathcal{A}^{\text{max}}{\text{max}}$

Nr.	0202.239.951
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	Codes	Period	Previous period
PLANT, MACHINERY AND EQUIPMENT

Acquisition value at the end of the period	8192P	XXXXXXXXXXXXXXX	8.504.873.834
Movements during the period
Acquisitions, including produced fixed assets	8162	1.858.063.650
Sales and disposals	8172	266.132.294
Transfers from one heading to another	8182	$-22.395$
Acquisition value at the end of the period	8192	10.096.782.795
Revaluation surpluses at the end of the period	8252P	XXXXXXXXXXXXXX
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	XXXXXXXXXXXXXXX	7.142.227.617
Movements during the period
Recorded	8272	388.015.058
Written back	8282
Acquisitions from third parties	8292	1.254.708.591
Cancelled owing to sales and disposals	8302	263.458.799
Transfers from one heading to another	8312
Depreciation and amounts written down at the end of the period	8322	8 521 492 467
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	1.575.290.328

	Nr. 0202,239.951
--	------------------

	Codes	Period	Previous period
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	XXXXXXXXXXXXXXX	89.637.570
Movements during the period
Acquisitions, including produced fixed assets	8163	42.270.979
Sales and disposals	8173	17.938.421
Transfers from one heading to another $\ldots$	8183
Acquisition value at the end of the period	8193	113.970.128
Revaluation surpluses at the end of the period	8253P	XXXXXXXXXXXXXXX
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	xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx	66.333.792
Movements during the period
Recorded	8273	10.777.665
Written back	8283
Acquisitions from third parties	8293	18.663.626
Cancelled owing to sales and disposals	8303	17.938.421
Transfers from one heading to another	8313
Depreciation and amounts written down at the end of the period	8323	77.836.662
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	36,133,466

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

	Codes	Period	Previous period
OTHER TANGIBLE FIXED ASSETS

Acquisition value at the end of the period	8195P	XXXXXXXXXXXXXX	91.894.469
Movements during the period
Acquisitions, including produced fixed assets	8165	156.864.315
Sales and disposals	8175	3.130.455
Transfers from one heading to another	8185
Acquisition value at the end of the period	8195	245.628.329
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	XXXXXXXXXXXXXXX	76.826.111
Movements during the period
Recorded	8275	16.579.523
Written back	8285
Acquisitions from third parties	8295	95.435.620
Cancelled owing to sales and disposals	8305	3.040.378
Transfers from one heading to another	8315
Depreciation and amounts written down at the end of the period	8325	185.800.876
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	59,827,453

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

	Codes	Period	Previous period

ASSETS UNDER CONSTRUCTION AND ADVANCED PAYMENTS
Acquisition value at the end of the period	8196P	XXXXXXXXXXXXXX	397
Movements during the period
Acquisitions, including produced fixed assets	8166	2.647.464
Sales and disposals	8176	2.648.664
Transfers from one heading to another	8186	803
Acquisition value at the end of the period	8196
Revaluation surpluses at the end of the period www.communities.com	8256P	XXXXXXXXXXXXXXX
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	54
Movements during the period
Recorded	8276	39.269
Written back	3286
Acquisitions from third parties	8296
Cancelled owing to sales and disposals	8306	39.323
Transfers from one heading to another	8316
Depreciation and amounts written down at the end of the period	8326
NET BOOK VALUE AT THE END OF THE PERIOD	(27)

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	9.589.101.529
Movements during the period
Acquisitions, including produced fixed assets	8361	4.010.104.982
Sales and disposals	8371	5.578.248.229
Transfers from one heading to another	8381
Acquisition value at the end of the period	8391	8.020.958.282
Revaluation surpluses at the end of the period	8451P	XXXXXXXXXXXXXXX
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	XXXXXXXXXXXXXXX	183.433.448
Movements during the period
Recorded	8471	2.486.111
Written back	8481	122.605.938
Acquisitions from third parties	8491	47,632.001
Cancelled owing to sales and disposals	8501	47.632.001
Transfers from one heading to another	8511
Amounts written down at the end of the period	8521	63.313.621
Uncalled amounts at the end of the period	8551P	XXXXXXXXXXXXXXXX	2.000.000
Movements during the period	8541	$-2.000.000$
Uncalled amounts at the end of the period	8551
NET BOOK VALUE AT THE END OF THE PERIOD.	(280)	7.957.644.661
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	XXXXXXXXXXXXXX
Movements during the period
Additions	8581
Repayments	8591
Amounts written down	8601
Amounts written back	8611
Exchange differences	8621
Other	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8651

$\sim$ ÷

	Codes	Period	Previous period
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8392P	XXXXXXXXXXXXXX	7.999.994
Movements during the period
Acquisitions, including produced fixed assets	8362	1.465.416
Sales and disposals	8372	1.999.994
Transfers from one heading to another	8382
Acquisition value at the end of the period	8392	7.465.416
Revaluation surpluses at the end of the period	8452P	XXXXXXXXXXXXXXX
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	1.999.994
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	4.000.000
Uncalled amounts at the end of the period	8552P	XXXXXXXXXXXXXX
Movements during the period	8542
Uncalled amounts at the end of the period	8552
T BOOK VALUE AT THE END OF THE PERIOD	(282)	3.465.416
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

	Codes	Period	Previous period

OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxxx	1.023.550
Movements during the period
Acquisitions, including produced fixed assets	8363	23.646.826
Sales and disposals	8373
Transfers from one heading to another	3383
Acquisition value at the end of the period	8393	24.670.376
Revaluation surpluses at the end of the period	8453P	XXXXXXXXXXXXXX
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	8523Pi	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	XXXXXXXXXXXXXXX
Movements during the period	8543
Uncalled amounts at the end of the period	8553
NET BOOK VALUE AT THE END OF THE PERIOD	(284)	23.646.826
OTHER ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	285/8P	XXXXXXXXXXXXXXX	435.609
Movements during the period
Additions	8583	1.501.819
Repayments	8593	217.902
Amounts written down	8603
Amounts written back	8613
Exchange differences	8623
Other	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	1.719.526
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8653

$\sim$

وأوالوها لأعام

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 Luxembourg				31/12/2009	EUR	624,332,167	14.241.386
FINBEL RE PLC Rue de Merl 74 2146 Luxembourg Luxembourg	498565	99,00	1,00	31/12/2009	EUR	9.063.557	1.626.751
M-Brussels Invest (in liquidatie/en liquidation/in liquidation) PLC Boulevard du Roi Albert II 27 1030 Brussel 3 Belgium	29991	99,97	0,03	31/12/2009	EUR	$-276.021$	$-10.053$
0473.711.178 Belgacom Skynet PLC Boulevard du Roi Albert II 27 1030 Schaarbeek Belglum	60000	50,00	0,00	31/12/2009	EUR	66.174.911	1.010.664
0460.102.672 Connectimmo PLC Boulevard du Roi Albert II 27 1030 Brussel 3 Belgium	667735 100.00		0,00	31/12/2009	EUR	540.069.269	27.669.479
0477.931.965 Belgacom Opal PLC Boulevard du Roi Albert II 27 1030 Brussel 3 Belgium	4865300 100,00		0,00	31/12/2009	EUR	65.682	$-4.060$
0861.585.672 Belgacom Invest SaRL Rue de Meri 74 2146 Luxembourg Luxembourg		620 100,00	0,00	31/12/2009	EUR	2.481.848.916	22.494,524
	20805125 100,00		0,00

$\label{eq:2.1} \mathcal{L}(\mathcal{L}^{\mathcal{L}}(\mathcal{L}^{\mathcal{L}})) = \mathcal{L}(\mathcal{L}^{\mathcal{L}}(\mathcal{L}^{\mathcal{L}}))$

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		subsi- directly diaries		Primary	Моле-	Capital and reserves	Net result
	Number	%	%	financial statement	tary unit		$(+)$ or $(-)$ (in monetary units)
Belgacom International Carrier Services PLC				31/12/2009	EUR	142.131.417	65.631.865
Rue J. Lebeau 4 1000 Brussel 1 Belgium 0866.977.981
Euremis PLC Chaussee de Nivelles 81 1420 Braine-l'Alleud Belgium	548640	57,60	0,00	31/12/2009	EUR	$-1.760.329$	$-246.282$
0477.133.397 Allô Bottin SRL (in liquidatie/en liquidation/in liquidation)		169083 100,00	0,00	31/12/2007	EUR	$-1.682,700$	$\Omega$
Rue Jean Jaurès 101, box 109 92300 Levallois-Perret *France*
Telindus Group PLC Geldenaaksebaan 335 3001 Heverlee Belgium	100000	50,00	0,00	31/12/2009	EUR	423 161.674	$-410.277$
0422.674.035 Belgacom Development PLC Rue de Merl 74 2146 Luxembourg Luxembourg	35800000 100,00		0,00	31/12/2009	EUR	97.875	$-26.168$
Belgacom Group International Services PLC Boulevard du Roi Albert II 27 1030 Brussel 3		1000 100,00	0,00	31/12/2009	EUR	8.155.215.254	156,615,013
Belgium 0466.917.220 Beldiscom PLC Boulevard d'Avroy 242 4000 Liege 1 Belgium 0440.935.769	46201653	66,20	33,80	31/12/2009	EUR	270.682	175.048
	399	99,75	0,25

$\ddot{\phantom{a}}$

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- Primary diaries		Mone-	Capital and reserves	Net result
	financial Number % ℅ statement		tary unit		$(4)$ or $(-)$ (in monetary units)
Mobile-For PLC Boulevard du Roi Albert II 27 1030 Brussel 3 Belgium				31/12/2009	EUR	132.402	$-237.823$
0881.959.533		2000 100,00	0,00
Scarlet PLC Ketelmeerstraat 182 8226JX Lelystad Holland				31/12/2009	EUR	61.373.000	$-24.336,000$
813288198B01	2195000 100,00		0,00
Tunz.com PLC Chaussée de La Hulpe 187 1170 Brussel 17 Belgium				31/12/2009	EUR	1.851.562	$-397.779$
0886.476.763	8000	40,00	0,00
Sahara International Ventures PLC Amstel 108 1017 Amsterdam Holland 813288198B01					EUR	ĐI	0
	4684	51,00	0,00
Jinni Media Ltd Hatamar Streeet 2 Yehud Israel				31/12/2008	USD	$-242.258$	$-805.868$
51-392455-5	30945.	10,29	0,00
Belgacom Bridging ICT PLC Boulevard du Roi Albert II 27 1030 Schaarbeek Belgium 0826.942.915					EUR	n	$^{\circ}$
e-port communications systems PLC Slijkensesteenweg 2 8400 Oostende Belgium 0864.818.940		4340 100,00	0,00	31/12/2009	EUR	3.102.353	375,862
	1000	50,00	0,00

$C$ 5.6

$\ddot{\phantom{a}}$

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

	Codes	Period	Previous period
INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS
Shares	51
Book value increased with the uncalled amount	8681
Uncalled amount	8632
Fixed income securities	52
Fixed income securities issued by credit institutions	8684
Fixed term deposit with credit institutions	53	10.233.119	10.784.757
Falling due
less or up to one month	8686	10.233.119	10.784.757
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 (rent, maintenance) Accrued Income - tax credit R&D

Period 33.378.587 4.553.604

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

STATEMENT OF CAPITAL	Codes	Period	Previous period
Social capital
Issued capital at the end of the period Issued capital at the end of the period	100P (100)	XXXXXXXXXXXXXX 1.000.000.000	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 Registered shares	8702	1.000.000.000 XXXXXXXXXXXXX	338.025.135
Bearer shares and/or dematerialized shares	8703	XXXXXXXXXXXXX	338.025.135

Capital not paid	Codes	Uncalled capital	Capital called. but not paid

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

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

	Codes	Period
OWN SHARES
Held by the company itself
Amount of capital held	8721	48.938.651
Number of shares held	8722	16.542.494
Held by the subsidiaries
Amount of capital held	8731
Number of shares held www.musumman.com/musumman.com/musumman.com/musumman.com	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 maximum maximum maximum maximum	8742
Following the exercising of SUBSCRIPTION RIGHTS
Number of outstanding subscription rights	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

$\boxed{C. 5.7}$

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

	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, Capital Research and Management 11.062.800 shares and Belgacom S.A. de droit public/N.V. van publiek recht 16.542.494 shares on a total of 338.025.135 shares.

Additional information:

The Company may acquire its own shares and transfer the shares thus acquired in accordance with the provisions of the Commercial Companies Code. The Board of Directors is empowered by article 13 of the Articles of Association to acquire the maximum number of own shares permitted by law. The price paid for these shares must not be more than five percent above the highest closing price in the thirty-day trading period preceding the transaction nor more than ten percent below the lowest closing price in that same thirty-day period. Said authorization is granted for a period of five years starting on 8 April 2009.

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

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

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

BeST-program and tutorship

Social benefits for non actif personnel

Interest due to industrial accidents

Pending litigations

Period 351.364.029 228.983.000 42.440.000 91.426.406

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED INCOME
ANALYSIS BY CURRENT PORTIONS OF AMOUNTS INITIALLY PAYABLE AFTER MORE THAN ONE YEAR	Codes	Period
Amounts payable after more than one year, not more than one year
Financial debts	8801	776.320.479
Subordinated loans	8811
Unsubordinated debentures	8821	772.320.479
Leasing and other similar obligations	3831
Credit Institutions	8841	4.000.000
Other toans	8851
Trade debts	8861	75.997.013
Suppliers	8871	75.997.013
Bills of exchange payable	8881
Advance payments received on contracts in progress	8891
Other amounts payable	8901	32.617
Total amounts payable after more than one year, not more than one year	(42)	852.350.109
Amounts payable after more than one year, between one and five years
Financial debts	8802	2.711.158.584
Subordinated loans	8812
Unsubordinated debentures	8822	244.558.584
Leasing and other similar obligations	8832
Credit institutions	8842	2.008.000.000
Other loans machines and communications and communications are an international communications	8852	458.500,000
Trade debts	8862	69.895.582
Suppliers ………………………………………………………………………………………………	8872	69.895.582
Bills of exchange payable	8882
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	2.781.054.166
Amounts payable after more than one year, over five years
Financial debts	8803	6.918.701.927
Subordinated loans	8813
Unsubordinated debentures	8823	1.022.547.125
Leasing and other similar obligations	8833
Credit institutions	8343	5.896.154.802
Other loans	8853
Trade debts	8863
Suppliers	8873
Bills of exchange payable	8883
Advance payments received on contracts in progress	8893
Other amounts payable	8903
Total amounts payable after more than one year, over five years	8913	6.918.701.927

$\sqrt{C}$ 5.9

Nr. 0202.239.951

0202.239.951 Nr.		C _5.9

	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	3952
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	46.434.828
Estimated taxes payable	450	115.531.335
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	185.326.137

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

0202.239.951		C _5.9
ACCRUED CHARGES AND DEFERRED INCOME		Period
	Allocation of the heading 492/3 of liabilities if the amount is considerable
Not yet expired interests on loans		55.939.346
Billed rights for subsequent periods		130.850.601
Accrued charges, deferred holidays		6.638.000

$\mathcal{A}^{\text{max}}$

OPERATING RESULTS

	Codes	Period	Previous period

OPERATING INCOME
Net turnover
Broken down by categories of activity
Fixed products		2.612.664.977	2.595.895.664
Mobile products		1,836,987.861
Allocation into geographical markets
Other operating income
Total amount of subsidies and compensatory amounts obtained from public authorities	740
OPERATING COSTS
Employees recorded in the personnel register
Total number at the closing date	9086	16,175	13.832
Average number of employees calculated in full-time equivalents	9087	14.459.9	12.616,0
Number of actual worked hours	9088	21.461.587	18.415.650
Personnel costs
Remuneration and direct social benefits	620	710.781.915	596.229.856
Employers' social security contributions	621	166.881.675	126.588.899
Employers' premiums for extra statutory insurances	622	30.023.179	18.125.338
Other personnel costs	623	18.564.331	11.545.840
Old-age and widows' pensions	624	113,480	20.277
Provisions for pensions
Additions (uses and write-back)	635	$-17.549$
Amounts written off
Stocks and contracts in progress
Recorded	9110	5.636.705	2.132.150
Written back	9111	3.941.439	2.434.663
Trade debtors
Recorded	9112	94.336.941	96.901.831
Written back	9113	87.909.406	101.500.357
Provisions for risks and charges
Additions	9115	15,962.166	10.231.169
Uses and write-back	9116	6.609.557	11.971.754
Other operating charges
Taxes related to operation	640	13.610.172	10.041.723
Other charges	641/8	24.874.112	18.424.191
Hired temporary staff and persons placed at the enterprise's disposal

Total number at the closing date	9096	45	9
Average number calculated as full-time equivalents	9097	80.0	71.1
Number of actual worked hours	9098	118.916	103.849
Charges to the enterprise	617	3.718.064	2.180.819

$\langle \ldots, \ldots, \ldots \rangle$

A management

FINANCIAL AND EXTRAORDINARY RESULTS

	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	37.401	10.489
Interest subsidies	9126
Allocation of other financial income
Exchange profits		8.179.112	875.910
Interests from IRS		1.488.604	3.590.908
Other		1.918.715	694.508
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
Write-backs	6511	160.067	309.365
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
Exchange losses		10.676.405	1.780.539
Interests on IRS		8.920.800	8.920.800
Less value on realisation of own shares		3.292.521	1.682.943
Miscellaneous bankcosts		2.792.273	1.230.341
Other		1.127.358	751,530

	Period
EXTRAORDINARY RESULTS
Allocation other extraordinary income
Sale of bought back vehicles in leasing	4.125.919
Allocation other extraordinary charges
Real costs BeST and tutorship (Prov decreased)	99.133.292
Real costs external mobility (Prov decreased)	16.618.641
Real costs social benefit for inactif personnel (Prov decreased)	13.293.282
Rebuying cost of leased vehicles	3.891.850

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXE
Income taxes on the result of the current period	9134	137.017.065
income taxes paid and withholding taxes due or paid	9135	67.031.758
Excess of income tax prepayments and withholding taxes recorded under assets	9136
Estimated additional taxes	9137	69.985.307
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		$-22.677.200$
Depreciation goodwill		318.271.412
Disallowed expenses		45.575.493
Non taxable capital gains on shares		$-6.242.996$
Write down on shares		8.249.166
Reversal of write down on shares		$-124.340.038$
Provisions movement		-106.352.353
Hidden reserves		$-4.495.974$
Received dividend deduction		$-20.520.000$
Notional interest deduction		$-6.469.671$
Tax deductible losses		-131.197.073

$\mathcal{F}^{\text{max}}_{\text{max}}$

$\sim$ $\sim$

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

-
- Realized capital gains on shares: -6.192.071
- Write down on shares: 2.486.112

Trinc down on shares; 2,466,772
- Reversal of write down on shares: -124,340,088
- Provisions movement: -106,123,812

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141	377.337.878
Accumulated tax losses deductible from future taxable profits	9142
Other deferred taxes representing assets
Taxable provisions		360.914.090
Excess depreciation		13.635.657
Other		2.788.131
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

$C$ 5.12

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

المتملحة

INCOME TAXES AND OTHER TAXES

	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	523.273.289	342.308.450
By the enterprise	9146	1.095.767.720	668.472.918
Amounts retained on behalf of third parties for
Payroll withholding taxes	9147	213.863.689	181.046.838
Withholding taxes on investment income	9148	48.300.166	54.841.693

$\label{eq:2.1} \frac{1}{2}\sum_{i=1}^n\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2\pi}\int_{\mathbb{R}^n}\frac{1}{2$

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

	Code	Period
PERSONAL GUARANTEES GIVEN OR IRREVOCABLY PROMISED BY THE ENTERPRISE AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES	9149	28.949.376
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	28.949.376
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 measuremanamental control of	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		62.071.844
SUBSTANCIAL COMMITMENTS TO DISPOSE FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received) …… …………………………………………………………………………… ………………	9213
Goods sold (to be delivered) www.manaman.manaman.manaman.manaman.manaman.manaman.man	9214
Currencies purchased (to be received) ………………………………………………………………………………………………	9215	238.444.584
Currencies sold (to be delivered) ………………………………………………………………………………………………	9216	238.444.584

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

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).

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

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

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 "Pensioniund 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 PUC- method (Project Unit Credit), based on a real discount rate of 3 % 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 217,656,000 EUR on December 31st, 2010.

The amount of obligations of this fund (Belgacom S.A. de droit public/N.V. van publiek recht including some subsidiaries) amounts to 230,908,000 EUR on December 31st, 2010. The fund is funded on the basis of the annual periodic cost, also calculated according to the PUC-method. On December 31st, 2010 the total assets of this fund amount to 204.195.000 EUR.

PENSIONS FUNDED BY THE ENTERPRISE

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

Methods of estimation

$\sim$ , $\sim$

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:

	Code	Period

٠	9220

|--|

$C$ 5.13

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET:

Commitments:

Interest rates swaps Rent commitments buildings Granted share options	144,000,000 35,479,925 21,158,392
Received guarantees:
to cover Belgacom S.A. de droit public/N.V. van publiek recht
from banks (bank guarantees)	29.950.304
to cover commitments from third parties towards Belgacom S.A. de droit public/N.V. van publiek recht
from banks (bank guarantees)	9,252,959
on blocked bank accounts	253,473
as deposit at the "Caisse des Dépôts et Consignation"	195,023
Rights:
Credit line long term	755,000.000
Credit line short term	100,000,000
Credit line at Belgacom Group International Services S.A.	516,497,697
Right of emission of commercial papers	1,000,000,000
Right of emission of Euro Medium Term Notes	2,500,000,000
of which emitted 1,850,000,000

Some credit facilities are conditional to the respecting of certain debt ratios at group level.

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 European Commission brought Belgium before the European Court for this Belgian legislation. Begin October 2010 the European Court has passed judgement and in January 2011 the Constitutional Court has annulled certain provisions of the law, as a result of which a new initiative of the Belgian State is needed.

Belgacom often has, for the rented spaces where she installs network antennas, the obligation to hand over these in their original state at the end of the rent agreement.

INFORMATION CONCERNING IMPORTANT LITIGATION:

From time to time, Belgacom has been, and expects to continue to be, subject to legal, regulatory and tax proceedings and claims arising in the ordinary course of its business. Belgacom is currently involved in various judicial and regulatory proceedings, including those for which a provision has been made (see note 17) and those described below for which no or limited provisions have been accrued, in the jurisdictions in which it operates concerning matters arising in connection with the conduct of its business. These include also proceedings before the Belgian Institute for Postal services and Telecommunications ("BIPT"), appeals against decisions taken by the BIPT, and proceedings with the Belgian tax administrations with respect to real estate withholding taxes and corporate income taxes.

$1.$

After the launch on 1 June 2005 of the Happy Time tariff scheme by Belgacom, Tele2 filed a complaint with the Belgian Competition Authority i) alleging that said tariffs constitute an abuse of dominant position (27 June 2005) and ii) requesting interim measures, i.e. suspension of the Happy Time offer, pending the procedure (5 July 2005).

On 1 September 2006, Tele2's request for interim measures was initially rejected by the President of the Competition Council. Following an appeal by Tele2, the Court of Appeal, on 18 December 2007, nullified the aforementioned decision, arguing a.o. a lack of reasoning.

--- N°.	0202.239.951	_________	-- ∼ .
	.	comments designed to the co- . ------------- ------------- -- __ ----- _______	.

However, Tele2 did not ask the President to adopt a new decision on its request for interim measures but initiated on 18 April 2008 a damage claim before the commercial court based on an alleged abuse of dominance (the Happy Time plan) (claim for EUR 1 provisional and request for appointment of an expert to compute the precise damage). This case on the merits is still pending before the Court and the timing for a decision on the merits is unknown.

In the case on the merits with the Competition Authority, the Prosecutor issued on 29 September 2009 his reasoned report proposing to the Competition Council that Belgacom abused and still abuses its dominant position, retaining the allegation of price squeeze. The hearings before the Competition Council have taken place. The further timing for a decision on the merits is currently unknown.

Following the report of the Prosecutor, management reassessed the contingent liabilities of Belgacom, taking into account the current legal status of both litigation files. Belgacom will continue to monitor any further development in both cases and in the meantime vigorously continues to defend its interests.

It is to be noted that given different reorganizations within the KPN Group the claimant in the aforementioned case is now KPN Belgium.

$2.$

Between 12 and 14 October 2010, the Belgian Directorate General of Competition started a dawn raid in Belgacom's offices in Brussels. This investigation concerns allegations by Mobistar and KPN regarding the wholesale DSL services of which Belgacom would have engaged in obstruction practices. This measure is without prejudice to the final outcome of the full investigation which has just started. Following the inspection, the Directorate General of Competition is to examine all the relevant elements of the case. Eventually the College of Competition Prosecutors may propose a decision to be adopted by the Competition Council. During this procedure, Belgacom will be in a position to make its views heard. (This procedure may last several years.)

3.

In June 2003, KPN Group Belgium (former BASE) filed a damage action against Belgacom (former Belgacom Mobile) before the Commercial Court of Brussels alleging that:

Since 1 October 2000 Belgacom's, mobile termination rates are not in accordance with the official telecommunications regulations requiring cost oriented pricing;
Belgacom's Proximus-to-Proximus tariffs, also referred to as on-net tariffs, as of 1999 constitute an abuse of Belgacom's alleged dominant position in the Belgian market.

In respect of both allegations, KPN Group Belgium's provisional estimate of its claims for compensation varied in the course of the procedure based upon different methodologies presented to the Court. Based upon the last documents in the file (prior to the 2007 interim ruling, detailed below), said claims amounted to approximately EUR 1 billion.

In March 2004, Mobistar filed a request to intervene voluntarily in the action brought by KPN Group Belgium against Belgacom, alleging the same in respect of Belgacom's on-net tariffs, although Mobistar's allegation targets primarily tariff schemes offered by Belgacom to business and corporate customers. Besides a claim for compensation. Mobistar requested the court to appoint a court expert to calculate the amount of the alleged damages.

On 29 May 2007 following an extensive exchange of factual and legal arguments, the Commercial Court of Brussels ruled the following:

In respect of the first allegation, Belgacom did not infringe the obligation requiring cost oriented pricing for its termination rates; the damages claim in this respect was consequently dismissed; and
In respect of the second allegation, the alleged abuse of dominant position as to the Proximus-to-Proximus tariffs:
The Court did not find any proof for the existence of a dominant position during 2005; for the $\circ$ former years (1999 - 2004) the Court considered Belgacom as being in a dominant position;
The Court rejected two types of alleged abuses: and $\bullet$

A ¹⁰ --------------	0202.239.951
		-------- _ ------------ _______	and the company was a supported by the late

In respect of two possible other types of abuses, the Court requested a panel of experts, $\circ$ composed of Mr. Robert Wtterwulghe and Mr. Cyril Nourissant to further examine the case with the following mission:

Network effects:

Determine whether the Proximus pricing plans, which contain an off-net/on-net $\Omega$ differential and as such are criticised by KPN Group Belgium and Mobistar, have anticompetitive effects related to a network effect; and
If possible, determine the damage caused $\circ$

Price squeeze:

Determine whether there was an anti-competitive price squeeze in respect of the aforementioned tariff plans; and
If possible, determine the damage caused.

On 2 October 2009, the panel of experts filed their preliminary report and concluded:

To the existence of the alleged competition law infringements;
That it could be considered that the alleged impact of the Proximus on-net tariffs during the years 1999-2004 amounted to EUR 1,18 billion.

According to Belgacom, this first preliminary report does not provide a demonstration of the alleged infringements of the competition rules nor the existence of any damages.

Belgacom observed that an unprecedented and prospective method was put forward by this panel of experts, and assessed the use and implementation of this method as inappropriate. The panel considered that due to the alleged competition law infringements KPN Group Belgium and Mobistar underperformed as compared to the results and market shares that they would have achieved in an efficient market, to which reasoning and conclusions Belgacom strongly disagrees. Furthermore, the panel referred for its benchmark of an efficient market to the UK during the period 1999-2004, which is according to Belgacom in this case highly disputable. Finally, review of the report raised a series of questions with respect to data used and mathematical accuracy of calculations at all levels of the assessment of the case. Taking these observations into account. Belgacom can only be of the opinion that the conclusions of this first preliminary report cannot be considered as a reliable outcome of the mission entrusted to the panel of experts.

On 10 December 2010, the panel of experts filed a second preliminary report, which a.o. takes into account the exchange of additional information that had been requested by the experts. Still pursuing the principles reflected in the first preliminary report, and thus, in particular, based on the same unprecedented and prospective method, this second report states that it could be considered that the alleged impact on Mobistar and KPN Group Belgium amounts to EUR 1,84 billion.

According to Belgacom, this second report, which remains preliminary of nature, does neither provide any demonstration of the alleged infringements of the competition rules. Following a thorough analysis, Belgacom noted that in the second preliminary report the vast majority of the observations and criticisms that it expressed on the first preliminary report remain unanswered and that moreover Belgacom's own expert reports related to the different elements to be assessed by the panel of experts, being the questions of network effect of the on-net tariffs, of the existence of price squeeze, of their respective anti-competitive effects and of the respective damages that these practices would allegedly have caused, were largely disregarded. Moreover this second report introduces certain new elements that Belgacom finds to be highly contestable (in particular, those new elements leading to an increase of the alleged amount of damages as compared to the first preliminary report, a.o. the introduction of a constant profitability benchmark for the whole period based on the UK market for the period 1999-2004, during which the UK operators were in a different phase of development as compared to those on the Belgian market).

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	0202.239.951		----
N°.
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For this and a number of other reasons, Belgacom decided to introduce a motion with the court in respect of the expert panel, requesting their recusal/replacement. This motion is to be dealt with by the court in the near future.

In any event and as foreseen in the proceedings. Belgacom will continue to submit at the required stages of the proceedings, its detailed observations and criticisms that will cover all aspects of the pending matter.

It is to be understood that it will always be upon the court (i) to decide whether anti-competitive practices have been committed that infringe the competition rules, (ii) to determine whether Belgacom is liable for such practices and (iii) to decide upon the amount of the possible damages to be paid. after having assessed the advice of the Expert panel and the parties' defense arguments.

Indeed, this matter does not only involve a debate on the possible damages that would have been caused, but first the existence of the alleged anti-competitive practices is to be demonstrated. If a final report should still be required, Belgacom considers that the experts will need to take the observations and criticisms of Belgacom into account.

Belgacom continues to contest the claims of both KPN Group Belgium and Mobistar and hence also the content of the second preliminary report of the panel of experts in respect of the existence of the infringements itself as well as in respect of the calculation of the damages.

Following the second preliminary report of the expert panel, management reassessed the contingent liabilities of Belgacom, taking into account the current legal status of this litigation file. Belgacom will continue to monitor any further development and in the meantime vigorously continues to defend its interests.

In October 2009, seven parties (Telenet, KPN Group Belgium (former Base), KPN Belgium Business (Tele 2 Belgium), KPN BV (Sympac), BT, Verizon) filed an action against Belgacom Mobile (currently Belgacom and hereinafter indicated as Belgacom) before the Commercial Court of Brussels formulating allegations that are similar to those in the case mentioned above (including Proximus-to-Proximus tariffs constitute an abuse of Belgacom's alleged dominant position in the Belgian market). but for different periods depending on the claimant, in particular, in the 1999 up to now timeframe (claim for EUR 1 provisional and request for appointment of an expert to compute the precise damage). In November 2009 Mobistar filed another similar claim for the period 2004 and beyond. This case has been postponed for an undefined period.

$\overline{a}$ .

In the proceedings following a complaint by KPN Group Belgium in 2005 with the Belgian Competition Authority the latter confirmed on 26 May 2009 one of the five charges of abuse of dominant position put forward by the Prosecutor on 22 April 2008, i.e. engaging in 2004-2005 in a "price-squeeze" on the professional market. The Belgian Competition Authority considered that the rates for calls between Proximus customers ("on-net rates") were lower than the rates it charged competitors for routing a call from their own networks to that of Proximus (=termination rates), increased with a number of other costs deemed relevant. All other charges of the Prosecutor were rejected. The Competition Authority also imposed a fine of EUR 66.3 million on Belgacom (former Belgacom Mobile) for abuse of a dominant position during the years 2004 and 2005. Belgacom was obliged to pay the fine prior to 30 June 2009 and recognized this charge (net of existing provisions) as a nonrecurring expense in the income statement of the second quarter 2009. Belgacom filed an appeal against the ruling of the Competition Authority with the Court of Appeal of

Brussels, contesting a large number of elements of the ruling: a.o. the fact that the market impact was not examined. Also KPN Group Belgium and Mobistar filed an appeal against said ruling.

5.

Since 2003, Belgacom considers the enrollments of real estate tax on telecom equipment as undue and therefore recognizes an asset against the tax authorities in the 'current income tax asset' caption of the balance sheet for an amount of EUR 146 million at 31 December 2009 and EUR 170 million at 31 December 2010.

	Nr. 0202.239.951
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$C$ 5.14

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATING INTERESTS

AFFILIATED ENTERPRISES Financial fixed assets (280/1) 7.957.644.661 9.403.668.081 Investments (280) 7.957.644.661 9.403.668.081 Amounts receivable subordinated 9271 Other amounts receivable 9231 Amounts receivable 9291 168.499.499 4.117.773.572 After one year 9301 1.213.946 1.203.223 9311 Within one year 167.285.553 4.116.570.349 Current investments 9321 9.603.119 10.156.404 Shares 9331 Amounts receivable 9341 9.603.119 10.156.404 Amounts payable 9351 9.775 834.412 9.790.133.229 After one year 9361 8.354.654.802 2,754.654.802 Within one year 1.421.179.610 9371 7.035 478.427 Personal and real guarantees Provided or irrevocably promised by the enterprise, as security for debts or 9381 39.273.294 commitments of affiliated enterprises Provided or irrevocably promised by affiliated enterprises as security for debts or 9391 commitments of the enterprise Other substancial financial commitments 9401 Financial results Income from financial fixed assets 9421 21.600.000 74.732.303 $ ncome from current assets $ 9431 33.057 99.207 Other financial Income 913.628 215,025 Debts charges 9461 326,650.405 206.200.482 9471 1.225.682 Other financial charges Gains and losses on disposal of fixed assets Obtained capital gains 9481 Obtained capital losses 9491 ENTERPRISES LINKED BY PARTICIPATING INTERESTS (282/3) Financial fixed assets manumumumumumumumumumumumumumumumum 3.465.416 2.000.000 Investments (282) 3.465.416 2.000.000 Amounts receivable subordinated 9272 Other amounts receivable 9282 9292 After one year 9302 9312 Within one year Amounts payable www.manamanamanamanamanamanamanamanamanaman 9352 6 9362 After one year 9372 Within one year 6.		Codes	Period	Previous period

































	Amounts receivable

Nr.	0202.239.951
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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:

Nil

$\sim$

Additional information

Belgacom supplies telecommunication services to the Belgian State, to various administrations of the Belgian State and to various State-controlled enterprises. All such transactions are made within normal customer/supplier relationships on terms and conditions that are not more favorable than those available to other customers and suppliers. The services provided to those administrations and those various State-controlled enterprises do not represent a significant component of Belgacom's net income.

Belgacom has transactions with Belgacom International Carrier Services S.A. for inbound and outbound telecom services. The underlying contracts are approved by management taking into account the current market references.

As far as transactions with members of leading, supervising or governing bodies concerns, we refer to the sections "corporate governance statement" and "remuneration report" of the management report in which the remuneration of the members of the Board of Directors and of the members of the Belgacom Management Committee are clarified.

	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	3.475.830
To former directors and former managers	9504

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO

Auditor's fees $\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\ldots\$	9505	240.000

Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061	40.837
Tax consultancy encomponent contracts and consumer and consumer and consumer and consultance of the Taxan and C	95062
Other missions external to the audit	95063	132.883
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions www.communication.com/www.communication.com/www.com/www.com/	95081
Tax consultancy	95082	9.250
Other missions external to the audit	95083	32.275

Mention related to article 133 paragraph 6 from the Companies Code

$C$ 5.15

Nr.	0202.239.951
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$C$ 5.16

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

2 IRS and 3 IRCS measured at fair value

Period 16.835.459

$\mathcal{L}$

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(les) and the specification whether the parent company(les) 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 ś is a subsidiary and for which consolidated accounts are prepared and published. $\sigma_{\rm{max}} \simeq 0.1$

FINANCIAL RELATIONSHIPS OF THE GROUP LED BY THE COMPANY IN BELGIUM WITH THE AUDITOR(S) OR PEOPLE HE (THEY) IS (ARE) LINKED TO

	Codes	Period
Mentions related to article 134, paragraphs 4 and 5 from the Companies Law
Auditor's fees for carrying out an auditor's mandate on the level of the group led by the company that publishes the information www.www.www.www.www.www.www.www.www.ww	9507	1.070.173
Fees for exceptional services or special missions executed in this group by the auditor(s)
Other attestation missions	95071	66.837
Tax consultancy	95072
Other missions external to the audit	95073	145.211
Fees for the people they are linked to the auditor(s) for carrying out an auditor's mandate on the level of the group led by the company that publishes the information manufacture component contains the company	9509
Fees for exceptional services or special missions executed in this group by the people they are linked to the auditor(s)
Other attestation missions	95091
Tax consultancy	95092	13.519
Other missions external to the audit	95093	90.073

Mention related to article 133, paragraph 6 from the Companies Law

SOCIAL REPORT

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

STATEMENT OF THE PERSONS EMPLOYED EMPLOYEES RECORDED IN THE STAFF REGISTER

During the period and the previous period	Codes	I. 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)
		(period)	(period)	(period)	(previous period)
Average number of employees	100	11,637,6	4.616.2	(FTE) 14.459,9	(FTE) 12,616,0
Number of hours actually worked	101	17.494.781	3.966.806	21.461.587 (T)	$18.415.650$ (T)
Personnel costs	102	773.559.385	175.358.328	948.917.713 (T)	764.695.411 (T)
Advantages in addition to wages	103	XXXXXXXXXXXXXX	XXXXXXXXXXXX	13.740.247 (T)	(T) 15.845.367

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		11.624	4.551	14.390,5
By nature of the employment contract
Contract for an indefinite period	110	11.013	4.549	13.778.2
Contract for a definite period	111	538		538.8
Contract for the execution of a specifically assigned work	112
Replacement contract	113	73		73.5
According to the gender and by level of education Male		8.613	2.756	10.220,0
primary education	1200
secondary education	1201	3.675	2.068	4.867.5
higher education (non-university)	1202	1.672	407	1.914.2
university education	1203	3.266	281	3.438.3
Female	121	3.011	1.795	4.170.5
primary education	1210
secondary education	1211	1.254	1.279	2,044.5
higher education (non-university)	1212	610	276	801.9
university education	1213	1.147	240	1.324.1
By professional category
Management staff	130	146	2	147.6
Employees	134	9.967	3.377	12.056.4
Workers	132	1.359	1.172	2.034.5
Other	133	152		152.0

$C₆$

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

During the period	Codes	1. Temporary personnel
Average number of employees	150	80,0
Number of hours actually worked	151	118,916
Charges of the enterprise	152	3.718.064

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	2.820	903	3.534.5
By nature of the employment contract
Contract for an indefinite period	210	2.322	331	2.578.9
Contract for a definite period	211	498	572	955,6
Contract for the execution of a specifically assigned work.	212
Replacement contract	213

DEPARTURES	Codes	1. Full-time	2. Part-time	l3. 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	614	738	1.135,1
By nature of the employment contract
Contract for an indefinite period	310	323	165	386,0
Contract for a definite period	311	275	572	732,6
Contract for the execution of a specifically assigned work	312
Replacement contract	313	16		16,5
According to the reason for termination of the employment contract
Retirement	340	47	14	57,6
Early retirement	341
Dismissal	342	101		101,8
Other reason	343	466	723	975.7
Of which the number of persons who continue to render services to the enterprise at least half-time on a self-employed basis	350

$\overline{C_6}$

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	9.453	5811	3.754
Number of training hours	5802	241.369	5812	88.575
Costs for the company	5803	21.543.255	5813	7.905.712
of which gross costs directly linked to the training	58031	21.170.861	58131	7.769.055
of which paid contributions and deposits in collective funds	58032	372.394	58132	136.657
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	1.448	5831	616
Number of training hours	5822	4.343	5832	1.478
Costs for the company	5823	380.931	5833	129.638
Total number of initial professional training projects at company expense
Number of participating employees	5841		5851
Number of training hours	5842		5852
Costs for the company	5843		5853

-N°	0202.239.951

SOCIAL REPORT

Note to codes 110, 210 and 310
--------------------------------	--	--	--	--

These codes can be divided in :	a. statutory staff b. contractually staff
---------------------------------	----------------------------------------------

Code 110 :
	Codes	1.Full-time	2.Part-time	3. Total Full-time equivalents
Statutory staff Contractually staff	code 110 code 110	4,919 6.094	3.400 1.149	6.865,3 6.912.9
Code 210 :	Codes	1.Full-time	2.Part-time	3. Total Full-time equivalents
Statutory staff Contractually staff	code 210 code 210	0 2.322	0 331	0,0 2.578,9
Code 310:	Codes	1 Full-time	2.Part-time	3. Total Full-time equivalents
Statutory staff Contractually staff	code 310 code 310	93 230	121 44	132.2 253.8

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

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. $\overline{a}$

$\overline{G}$

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, Dec 18, 2008 and Feb 24, 2011.

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.

For depreciations the straight line method is used. The acquisitions of the year are depreciated pro rata temporis.

Intangible assets with an unlimited useful life are not depreciated. These assets shall only be written down in case of a permanent impairment or diminution in value.

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

Goodwill: 5 to 15 years
Software: 5 years
$\ddot{\phantom{a}}$ Network licenses: over the license period
Rights to use, football and broadcasting rights; over the contract period
Customer bases and trademarks: 3 to 10 years

The goodwill generated by the merger of beginning of 2010 is depreciated over 15 years. This depreciation period is justified by the long life character of the profitability of all the merged companies.

TANGIBLE ASSETS

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

Tangible assets with an unlimited useful life are not depreciated. These assets shall only be written down in case of a permanent impairment or diminution in value.

Tangible assets with a limited useful life are depreciated using the straight line method. They are depreciated at a fixed rate using the following plan, established on the basis of economic criteria:

	Useful life (years)
Land and buildings
- Land	indefinite
- Buildings and building equipment	$22 - 33$
- Facilities in buildings	$3 - 10$
- Leasehold improvements	$3 - 10$

0202.239.951

Technical and network equipment

- Cables and ducts	$15 - 20$
- Switches	$8 - 10$
- Transmission equipment	$6 - 8$
- Radio Access Network	$6 - 7$
- Mobile sites and site facility equipment	$5 - 10$
- Equipment installed at client premises	$2 - 8$
- Data and other network equipment	$2 - 15$
Furniture and vehicles
- Furniture and office equipment	$3 - 10$
- Vehicles	$5 - 10$

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.

A write down is recorded 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. A write down is recorded 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 currencles 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.

A write down is applied when the sales or market value is lower than the acquisition cost or to take into consideration the risks inherent to 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).

$\overline{N}$

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 settlements 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 fixed parity of 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 reliable estimate of the risk on the moment of the establishment of the annual accounts. In the framework of post employment benefits, a provision is made at the origination of the obligation, namely at the moment of the pension or a specific agreement concerning leave before pension.

Deferred taxes are booked in compliance with article 76 of the R.D. 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 settlements for telecommunication traffic in Gold Francs, 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 fixed parity of the Gold Franc/Special Drawing Rights exchange rate;
trade debts at the exchange rate on the date of entry of the incoming invoice.

Trade debts and financial debts, not covered against exchange risks, expressed in foreign currencies are translated at closing rate.

0202.239.951

TRANSLATION DIFFERENCES

Exchange gains and losses resulting from the translation are taken in the income statement.

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

In 2010, the profit to be appropriated amounts to 324,369,280 EUR. 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:
22,677,200 EUR to be distributed to the management and the personnel, pursuant to article 44 of the bylaws:
710.322.349 EUR of dividends:
6,836,440 EUR of these dividends relate to own shares and this amount has been appropriated to the other reserves (unavailable for distribution):
540.090.836 EUR will be paid out to the shareholders:
on December 10, 2010 an interim dividend of 160,741,321 EUR has been paid.

Furthermore the dividends have been increased with 2,653,752 EUR as a result of dividend paid during 2010 in the framework of share options. Thus the total dividends for 2010 amount to 703,485,909 EUR as decided by the General Assembly, at the suggestion of the Board of Directors;

408,630,269 EUR to transfer from the reserves available for distribution, given the fact that the dividends (703,485,909 EUR), the distribution to the management and the personnel (22,677,200 EUR) and the appropriation to the other reserves (6,836,440 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	3,412,610 EUR
2. Operating charges	3,687,012 EUR
Operating result (loss)	(274,402) 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.

V.A.T. UNIT

The company is member of a V.A.T.-unit, named BECIBEL, established on October 1, 2010 under the V.A.T. number BE0829,001,392. All members of the V.A.T.-unit are towards the State jointly liable for all V.A.T. debts, interest, penalties and costs which are due under the acts of the members of the V.A.T.-unit. The members of this V.A.T.-unit BECIBEL are Belgacom S.A. under public law, Belgacom Group International Services S.A., Belgacom Bridging ICT S.A., Connectimmo S.A., Telindus Group S.A., Mobile-For S.A., Euremis S.A. and Beldiscom S.A.,

$-0.00000000000000000000000000000000000$			. .
N°	.239.951 രാറാ ∪∡		- - - . I L $\overline{\phantom{0}}$
	. --- _ _____	----------------- __ _______ ------	______ __

COMPARATIVE BALANCE SHEET AND INCOME STATEMENT

Begin 2010, Belgacom S.A. de droit public/N.V. van Publiek Recht integrated Telindus Group S.A. and Belgacom Skynet S.A. by a partial split and by a contribution of the (national) activities on the one hand and by an operation equal to a merger by takeover with her affiliates Belgacom Mobile S.A., Telindus S.A. and Telindus Sourcing S.A. on the other hand. As a consequence of this integration the figures of the balance sheet and the income statement of 2010 are difficult to compare with those of 2009.

In order to make the comparison 2009-2010 possible a pro forma balance sheet and income statement of 2009 were drawn up here under.

The pro forma balance sheet at December 31, 2009 was obtained by replacing the participating interest by the balance sheets of the integrated companies, by eliminating the mutual amounts receivable and payable and by recognizing the goodwill. The pro forma income statement 2009 results from the joining of the different income statements, the elimination of the intra group transactions and the adding of the depreciation on the goodwill.

ASSETS	2010	2009 pro forma

Fixed assets:		14,867,684.332 15.039.087.148

Formation expenses	Ω	0
Intangible fixed assets	4,984,331,070	5.141.291.728
Tangible fixed assets	1.896.876.833	1.940.493.428
Financial fixed assets	7.986.476.429	7.957.301.993

Current assets	$1.430.634.143$ $1.569.450.645$

Amounts receivable after more than one year	1.213.946	1.263.223
Stocks and contracts	88.958.327	67.984.593
Amounts receivable within one year	871.487.863	1.005.413.249
Current investments	425.863.281	451.678.116
Cash at bank and in hand	4.993.100	3.771.324
Deferred charges and accrued income	38.117.626	39.340.139

Total assets	16.298.318.475	16.608.537.793

	BALANCE SHEET

EQUITY AND LIABILITIES	2010	2009 pro forma
Equity Address To Property a shekara wa matsan ƙafa ta ƙasar Ingila. 'Yan wasan ƙwallon ƙafa ta ƙasar Ingila.	$2.002.534.535$ $2.410.786.877$
Capital	1.000.000.000	1.000.000.000
Reserves	1.002.024.515	1.410.001.901
Accumulated profits
Investment grants	510.020	784.976
Provisions and deferred taxes		725.037.172 3.3821.577.770
Provisions and deferred taxes	725.037.172	821 577 770
Amounts payable and a state of the state	13.570.746.768 13.376.173.146
Amounts payable after more than one year	9.699.756.093	4.810.415.219
Amounts payable within one year	3.677.484.754	8.365.304.836
Accrued charges and deferred income	193.505.921	200.453.092

Total liabilities	16.298.318.475	16.608.537.793

$\partial \mathcal{F}$ , $\mathcal{F}$

$\hat{\beta}_{\rm rot}$

$\mathbf{x} = \left( \begin{smallmatrix} 1 & 0 \ 0 & 1 \end{smallmatrix} \right)$ $\frac{1}{2}$ .

INCOME STATEMENT

	2010	2009 pro forma
OPERATING INCOME	4.762.846.788	4.834.490.734
Turnover	4.449.652.838	4.528.770.834
Contracts in progress	83.610	$-86.706$
Own construction capitalised	253.092.042	225 224 232
Other operating income	60.018.298	80.582.374
OPERATING CHARGES:	3,881,435,089	4.012.287.068
Raw materials, consumables	451.419.657	547,305.242
Purchases	456.218.801	541.363.451
Decrease (increase) in stocks	$-4.799.145$	5.941.791
Services and other goods	1.545.214.791	1.557.438.124
Remuneration, social security costs and pensions	926.364.580	945.831.315
Depreciation of and amounts written off formation expenses,	902.476.368	921.909.235
intangible and tangible fixed assets
Amounts written down stocks, contracts in progress	8.122.801	$-4.805.465$
and trade debtors - appropriations (write-backs)
Provisions for risks and charges - appropriations (uses and write-backs)	9.352.609	$-2.042.458$
Other operating charges	38.484.284	46.651.076

OPERATING PROFIT	881.411.699	822.203.666
FINANCIAL INCOME	34,409.741	98.760.271
Income from financial fixed assets	21.599.371	76.683.449
Income from current assets	1.186.539	13.763.222
Other financial income	11.623.832	8.313.601
		358.590.252
FINANCIAL CHARGES:	446.032.332
Debt charges	419.383.041 $-160.067$	307.334.067 34.329.418
Amounts written down on current assets except stocks,
contracts in progress and trade debtors Other financial charges	26.809.357	16.926.766

GAIN ON ORDINARY ACTIVITIES BEFORE TAXES	469.789.108	562.373.686
EXTRAORDINARY INCOME	135.835.384	13.300.276
Write-back of depreciation	0
Write-back of amounts written down financial fixed assets	124,605,932	11.737.383
Write-back of provisions for extraordinary liabilities and charges	O	O
Gains on disposal of fixed assets	6.192.071	219.387
Other extraordinary income	5.037.381	1.343.506
	152.080.496	135.037.872
EXTRAORDINARY CHARGES		280.726
Extraordinary depreciation and extraordinary amounts written-off Amounts written down financial fixed assets	39.269 2.486.112	47.495.065
	-105.819.255	-119.579.238
Provisions for extraordinary liabilities and charges	120.103.883
Loss on disposal of fixed assets	135.270.488	206.841.319
Other extraordinary charges
PROFIT FOR THE PERIOD BEFORE TAXES	453.543.996	440.636.090
Transfer from postponed taxes	336.991	323.133
Transfer to postponed taxes	237.554	Ω
INCOME TAXES:	129.884.544	171.224.116
Income taxes and an " $-12.1$ ۰Ņ. 가 보인다	137.017.064	173.452.986
Adjustment of income taxes	7.132.520	2.228.869
RROEIT(FOR THE RERIOD:	323.758.888	269.735.106

AI assistant

Proximus SA — Annual Report 2010

3989_rns_2012-03-16_f743f688-e141-49bc-aed1-2c3b60338743.pdf

DECLARATION ABOUT SUPPLEMENTARY AUDITING OR ADJUSTMENT MISSION

INCOME STATEMENT

APPROPRIATION ACCOUNT

STATEMENT OF TANGIBLE FIXED ASSETS

STATEMENT OF FINANCIAL FIXED ASSETS

INFORMATION RELATING TO THE SHARE IN THE CAPITAL

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

INFORMATION RELATING TO THE SHARE IN THE CAPITAL SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

INFORMATION RELATING TO THE SHARE IN THE CAPITAL SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

$C$ 5.6

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

DEFFERED CHARGES AND ACCRUED INCOME

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

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

Additional information:

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

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

OPERATING RESULTS

FINANCIAL AND EXTRAORDINARY RESULTS

INCOME TAXES AND OTHER TAXES

INCOME TAXES AND OTHER TAXES

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

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

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

PENSIONS FUNDED BY THE ENTERPRISE

NATURE AND BUSINESS PURPOSE OF OFF-BALANCE SHEET ARRANGEMENTS

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET:

INFORMATION CONCERNING IMPORTANT LITIGATION:

$2.$

3.

$\overline{a}$ .

5.

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATING INTERESTS

RELATIONSHIPS WITH AFFILIATED ENTERPRISES AND ENTERPRISES LINKED BY PARTICIPATING INTERESTS

TRANSACTIONS WITH RELATED PARTIES OUTSIDE NORMAL MARKET CONDITIONS

Additional information

FINANCIAL RELATIONSHIPS WITH

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

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

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

FINANCIAL RELATIONSHIPS OF THE GROUP LED BY THE COMPANY IN BELGIUM WITH THE AUDITOR(S) OR PEOPLE HE (THEY) IS (ARE) LINKED TO

SOCIAL REPORT

STATEMENT OF THE PERSONS EMPLOYED EMPLOYEES RECORDED IN THE STAFF REGISTER

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

TABLE OF PERSONNEL CHANGES DURING THE PERIOD

INFORMATION WITH REGARD TO TRAINING RECEIVED BY EMPLOYEES DURING THE PERIOD

SOCIAL REPORT

Code 102

VALUATION RULES

BALANCE SHEET

FORMATION EXPENSES

INTANGIBLE ASSETS

TANGIBLE ASSETS

Technical and network equipment

FINANCIAL ASSETS

AMOUNTS RECEIVABLE AFTER MORE THAN ONE YEAR

STOCKS AND CONTRACTS IN PROGRESS

AMOUNTS RECEIVABLE WITHIN ONE YEAR

INVESTMENTS

CASH AT BANK AND IN HAND

PROVISIONS AND DEFERRED TAXES

AMOUNTS PAYABLE AFTER MORE AND WITHIN ONE YEAR

TRANSLATION DIFFERENCES

INCOME STATEMENT

RIGHT AND COMMITMENTS NOT ACCRUED IN THE BALANCE SHEET

SUPPLEMENTARY INFORMATION

APPROPRIATION ACCOUNT AND EVOLUTION OF THE RESERVES NOT AVAILABLE FOR DISTRIBUTION

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

V.A.T. UNIT

COMPARATIVE BALANCE SHEET AND INCOME STATEMENT

INCOME STATEMENT

Proximus SA Annual Report 2010