Proximus SA — Annual Report 2016

Mar 17, 2017

40				1	EUR
NAT.	Date of the deposition	No. 0464.030.479	pp.	Ε.	D.		C 1
ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE DEPOSITED IN ACCORDANCE WITH THE COMPANIES CODE
	IDENTIFICATION
	NAME: Wireless Technologies
	Legal form: PLC
	Address: Koning Albert II-laan						Nr.: 27
	Postal Code: 1030	Gemeente: Schaarbeek
	Country: Belgium
	Internet address :	Register of Legal Persons (RLP) - Office of the commercial court at: Brussel, Dutch-speaking
						Company number:	0464.030.479
31/10/2016 DATE of the deposition of the partnership deed OR of the most recent document mentioning the date of publication of the partnership deed and the act changing the articles of association.
2 ANNUAL ACCOUNTS IN EURO (2 decimals)
		ANNUAL ACCOUNTS approved by by the General Meeting of					19/04/2017
	concerning the financial year covering the period from			01/01/2016		till	30/09/2016
	Previous period from 01/01/2015 till 31/12/2015
	The amounts of the previous financial year are / $\text{area}$					identical to those which have been previously published.

Total number of pages deposited: 46 Number of the pages of the standard form not deposited for not being of service: 6.2.1, 6.2.2, 6.2.5, 6.3.1, 6.3.2, 6.3.4, 6.3.6, 6.4.1, 6.4.2, 6.5.1, 6.5.2, 6.16, 6.17, 6.18.2, 9

Signature name and position)

Signature (name and position)

E. Nickmanns

$3$ Delete where appropriate.

^<sup>1 Optional statement.

$2$ If necessary, adjust the unit and currency in which the amounts are expressed

LIST OF DIRECTORS, MANAGERS AND AUDITORS AND DECLARATION ABOUT SUPPLEMENTARY AUDITING OR ADJUSTMENT MISSION

LIST OF DIRECTORS, MANAGERS AND AUDITORS

COMPLETE LIST WITH name, first name, profession, residence-address (address, number, postal code, municipality) and position with the enterprise

BOSSUYT Diederik

Picarstraat 22, box 24, 1080 Sint-Jans-Molenbeek, Belgium Title : Director Mandate: 28/03/2013-18/06/2020

NICKMANS Eusebio Wijvestraat 13, 3520 Zonhoven, Belgium Title : Director Mandate: 08/07/2014-18/06/2020

Deloitte Bedrijfsrevisoren CVBA CALL 0429.053.863

Gateway Building Luchthaven Nationaal 1J, 1930 Zaventem, Belgium

Title: Auditor, Lidmaatschapsnummer: B025

Mandate: 16/06/2016-20/06/2019

Represented by:

1. VAN COPPENOLLE Luc (A01723) Lange Lozanastraat 270, 2018 Antwerpen 1, Belgium

GEORGIS Michel Avenue des Eglantines 18, 1410 Waterloo, Belgium Title : Director Mandate: 28/03/2013-16/06/2016

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

Have the annual accounts been audited or adjusted by an external accountant or auditor who is not an statutory auditor? +85-1 No

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

• А. Bookkeeping of the undertaking **,
• Preparing the annual accounts ** B.
• 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 accountant-tax 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 $(A, B, C \text{ and/or } D)$

Delete where appropriate.

Optional disclosure.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Notes	Codes	Period	Previous period
ASSETS
FORMATION EXPENSES	6.1	20		2.316.22
FIXED ASSETS		21/28	384.146,49	1.930.400,06
Intangible fixed assets	6.2	21	67.191.13	1.201.833,64
Tangible fixed assets www.com.com.com.com.com	6.3	22/27	313.736.96	724.248,02
Land and buildings		22
Plant, machinery and equipment		23
Furniture and vehicles		24	42.517,14	155.238,61
Leasing and other rights		25
Other tangible fixed assets		26	271.219.82	569.009.41
Tangible assets under construction and advance payments made		27
Financial fixed assets	6.41 6.5.1	28	3.218.40	4.318.40
Affiliated enterprises	6.15	280/1
Participating interests		280
Amounts receivable		281
Other enterprises linked by participating interests	6.15	282/3
Participating interests		282
Amounts receivable		283
Other financial assets		284/8	3.218,40	4.318,40
Shares		284
Amounts receivable and cash guarantees		285/8	3.218,40	4.318,40

$\overline{C}$ 3.1

	Notes	Codes	Period	Previous period
CURRENT ASSETS		29/58	25.583.100,78	37.434.385.73
Amounts receivable after more than one year		29
Trade debtors		290
Other amounts receivable		291
Stocks and contracts in progress		3	2.547.481,93	3.093.641.01
Stocks		30/36	2.547.481.93	3.093.641.01
Raw materials and consumables		30/31
Work in progress		32
Finished goods		33
Goods purchased for resale		34	2.547.481.93	3.093.641.01
Immovable property intended for sale		35
Advance payments		36
Contracts in progress		37
Amounts receivable within one year		40/41	21.005.505,30	27.199.921,68
Trade debtors		40	444.282,81	1.745.434.37
Other amounts receivable		41	20.561.222.49	25.454.487.31
Current investments	6.5.1/ 6.6	50/53
Own shares		50
Other investments and deposits		51/53
Cash at bank and in hand		54/58	1.703.302,87	4.942.291.09
Deferred charges and accrued income	6.6	490/1	326.810.68	2.198.531,95
TOTAL ASSETS		20/58	25.967.247.27	39.367.102.01

$\overline{C3.1}$

	Notes	Codes	Period	Previous period
EQUITY AND LIABILITIES
EQUITY		10/15	19.151.642,68	24.841.662.76
Capital	6.7.1	10	35.911.650,59	35.911.650,59
Issued capital		100	35.911.650,59	35.911.650,59
Uncalled capital 4		101
Share premium account		11
Herwaarderingsmeerwaarden		12
Reserves		13
Legal reserve		130
Reserves not available		131
In respect of own shares held		1310
Others		1311
Untaxed reserves		132
Beschikbare reserves		133
Accumulated profits (losses)		14	-16.760.007,91	-11.069.987,83
Investment grants		15
Advance to associates on the sharing out of the assets 5		19
PROVISIONS AND DEFERRED TAXES		16	1.497.157,05	2.508.070,83
Provisions for liabilities and charges		160/5	1.497.157,05	2.508.070,83
Pensions and similar obligations		160
Taxation		161
Major repairs and maintenance		162
Environmental liabilities		163
Other risks and costs	6.8	164/5	1.497.157,05	2.508.070.83
Deferred taxes		168

$\boldsymbol{4}$ Amount to be deducted from the issued capital.

$\mathbf 5$ Amount to be deducted from the other components of equity.

	Notes	Codes	Period	Previous period
AMOUNTS PAYABLE		17/49	5.318.447,54	12.017.368.42
Amounts payable after more than one year	6.9	17
Financial debts		170/4
Subordinated loans		170
Unsubordinated debentures		171
Leasing and other similar obligations		172
Credit institutions		173
Other loans		174
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year	6.9	42/48	4.210.434,08	9.678.568,16
Current portion of amounts payable after more than one year falling due within one year		42
Financial debts		43
Credit institutions		430/8
Other loans		439
Trade debts		44	1.730.546,33	6.133.482,60
Suppliers		440/4	1.730.546,33	6.133.482,60
Bills of exchange payable		441
Advances received on contracts in progress		46
Taxes, remuneration and social security	6.9	45	2.353.094,37	2,858,906.94
Taxes		450/3	135.774.75	480.850.53
Remuneration and social security		454/9	2.217.319,62	2.378.056,41
Other amounts payable		47/48	126.793,38	686.178.62
Accrued charges and deferred income	6.9	492/3	1.108.013,46	2.338.800,26
TOTAL LIABILITIES		10/49	25.967.247.27	39.367.102,01

INCOME STATEMENT

	Notes	Codes	Period	Previous period
Operating income and charges		70/76A	19.448.565.88	40.775.373.04
Turnover	6.10	70	18.386.067,94	37.629.441,08
Increase (decrease) in stocks of finished goods, work and contracts in progress		71
Own construction capitalised		72
Other operating income	6.10	74	169.231.43	2.945.931,96
Of which: non-recurring operating income	6.12	76A	893,266,51	200.000,00
Operating charges		60/66A	25.063.045,92	51.528.155.90
Raw materials, consumables		60	7.859.720.49	19.980.684.14
Purchases		600/8	7.149.691,26	17.012.678,23
Decrease (increase) in stocks (+)/(-)		609	710.029.23	2.968.005.91
Services and other goods		61	5.025.422.34	10.673.874.42
Remuneration, social security costs and pensions (+)/(-)	6.10	62	10.359.551,91	17.218.260,73
Afschrijvingen en waardeverminderingen op oprichtingskosten, op immateriële en materiële vaste activa		630	813.586,14	925.505,78
Increase, Decrease in amounts written off stocks contracts in progress and trade debtors: Appropriations (write-backs)		631/4	$-159.635.05$	$-256.215.40$
Provisions for risks and charges - Appropriations (uses and write-backs)	6.10	635/8	-897.998,77	$-1.601.797,00$
Other operating charges	6.10	640/8	9.738,09	30.917,31
Operation charges carried to assets as restructuring costs		649
Non-recurring operating charges	6.12	66A	2.052.660.77	4.556.925,92
Operating profit (loss)		9901	$-5.614.480.04$	-10.752.782.86

	Notes	Codes	Period	Previous period
Financial income		75/76B
Recurring financial income		75
Income from financial fixed assets		750
Income from current assets		751
Other financial income	6.11	752/9
Non-recurring financial income	6.12	76B
Financial charges	6.11	65/66B	67.992,70	307.460.63
Recurring financial charges		65	67.992,70	307.460,63
Debt charges		650	38.53	530.24
Amounts written down on current assets except stocks, contracts in progress and trade debtors		651
Other financial charges		652/9	67.954.17	306.930,39
Non recurring financial charges	6.12	66B
Profit (loss) for the period before taxes		9903	$-5.682.472.74$	-11.060.243,49
Transfer from postponed taxes		780
Transfer to postponed taxes		680
Income taxes	6.12	67/77	7.547.34	9.744,34
Income taxes		670/3	7.547.34	10.197.00
Adjustment of income taxes and write-back of tax provisions		77		452.66
Profit (loss) for the period $\ldots$		9904	-5.690.020.08	$-11.069.987.83$
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Profit (loss) for the period available for appropriation		9905	$-5.690.020.08$	-11.069.987,83

APPROPRIATION ACCOUNT

	Codes	Boekjaar	Vorig boekjaar
Profit (loss) to be appropriated	9906	$-16.760.007.91$	$-22.046.406$
Gain (loss) to be appropriated	(9905)	$-5.690.020.08$	-11.069.987,83
Profit (loss) to be carried forward	14P	-11.069.987.83	$-10.976.418.97$
Transfers from capital and reserves	791/2		10.976.418
from capital and share premium account	791		10.976.418,97
from reserves	792
Transfers to capital and reserves	691/2
to capital and share premium account	691
to the legal reserve	6920
to other reserves	6921
Profit (loss) to be carried forward $\ldots$	(14)	-16.760.007.91	$-11.069.987$
Owner's contribution in respect of losses	794
Profit to be distributed	694/7
Dividends	694
Director's or managers' entitlements	695
Workers	696
Other beneficiaries	697

$\overline{C5}$

-22.046.406,80

10.976.418,97

-11.069.987,83

EXPLANATORY DISCLOSURES

STATEMENT OF FORMATION EXPENSES

	Codes	Period	Previous period
Net book value at the end of the period	20P	XXXXXXXXXXXXXXX	2.316.22
Movements during the period
New expenses incurred	8002
Depreciation	8003	2.316.22
Other	8004
Net book value at the end of the period	(20)
Whereof
Formation or capital increase expenses, loan issue expenses and other formation expenses	200/2
Restructuring costs	204

	Codes	Period	Previous period
CONCESSIONS, PATENTS, LICENCES, KNOWHOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	XXXXXXXXXXXXXX	893.198.85
Movements during the period
Acquisitions, including produced fixed assets	8022
Sales and disposals	8032	893.198.40
Transfers from one heading to another	8042
Acquisition value at the end of the period manufactured contains an account and	8052	0.45
Depreciation and amounts written down at the end of the period	8122P	XXXXXXXXXXXXXX	858.754,26
Movements during the period
Recorded	8072	34.444.59
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102	893.198.40
Transfers from one heading to another	8112
Depreciation and amounts written down at the end of the period	8122	0.45
NET BOOK VALUE AT THE END OF THE PERIOD	211

0464.030.479 Nr.			C6.2.4
	Codes	Period	Previous period
Goodwill
Acquisition value at the end of the period	8053P	XXXXXXXXXXXXXXX	5.312.849.57
Movements during the period
Acquisitions, including produced fixed assets	8023	43,400.00
Sales and disposals	8033	5.138.393.63
Transfers from one heading to another	3043
Acquisition value at the end of the period	8053	217.855,94
Depreciation and amounts written down at the end of the period	8123P	XXXXXXXXXXXXXXX	4.145.460,52
Movements during the period
Recorded	8073	1.143.597.92
Written back	8083
Acquisitions from third parties	8093
Cancelled owing to sales and disposals	8103	5.138.393.63
Transfers from one heading to another	8113
Depreciation and amounts written down at the end of the period	8123	150.664,81
NET BOOK VALUE AT THE END OF THE PERIOD	212	67.191.13

	Codes	Period	Previous period
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	xxxxxxxxxxxxxx	2.916.134,86
Movements during the period
Acquisitions, including produced fixed assets	8163	35.987,90
Sales and disposals	8173	2.768.633.18
Transfers from one heading to another	8183
Acquisition value at the end of the period	8193	183.489,58
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	XXXXXXXXXXXXXX	2.760.896,25
Movements during the period
Recorded	8273	148.709.37
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303	2.768.633.18
Transfers from one heading to another	8313
Depreciation and amounts written down at the end of the period	8323	140.972,44
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	42.517,14

	Codes	Period	Previous period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	XXXXXXXXXXXXXX	2.494.611.71
Movements during the period
Acquisitions, including produced fixed assets	8165
Sales and disposals	8175	2.018.964.31
Transfers from one heading to another	8185
Acquisition value at the end of the period	8195	475.647,40
Revaluation surpluses at the end of the period	8255P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8215
Acquisitions from third parties	8225
Cancelled	8235
Transfers from one heading to another	8245
Revaluation surpluses at the end of the period	8255
Depreciation and amounts written down at the end of the period	8325P	XXXXXXXXXXXXXX	1.925.602,30
Movements during the period
Recorded	8275	297.789.92
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305	2.018.964.64
Transfers from one heading to another	8315
Depreciation and amounts written down at the end of the period	8325	204.427,58
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	271.219,82

	Codes	Period	Previous period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions, including produced fixed assets	8363
Sales and disposals	8373
Transfers from one heading to another	8383
Acquisition value at the end of the period	8393
Revaluation surpluses at the end of the period	8453P	XXXXXXXXXXXXXX
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	3433
Transfers from one heading to another	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	XXXXXXXXXXXXXX
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
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)
OTHER ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	285/8P	XXXXXXXXXXXXXX	4.318,40
Movements during the period
Additions	8583
Repayments	8593	1.100,00
Amounts written down	8603
Amounts written back	8613
Exchange differences	8623
Other	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	3.218,40
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8653

$\mathbf{r}$

÷,

	Codes	Period	Previous period
INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS
Shares and current investments other than fixed income investments	51
Shares - Book value increased with the uncalled amount	3631
Shares - Uncalled amount	8682
Precious metals and works of art	8683
Fixed income securities	52
Fixed income securities issued by credit institutions	3634
Fixed term accounts with credit institutions .	53
With residual term or notice of withdrawal
up to one month	3686
between one month and one year	8687
over one year	8688
Other investments not mentioned above manual communication contains the Other investments.	8689

DEFFERED CHARGES AND ACCRUED INCOME

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

Prepaid rent

Prepaid other costs

Provision commissions to recieve

8.244,74 136.829,72 181.736,22

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

STATEMENT OF CAPITAL	Codes	Period	Previous period
Social capital
Issued capital at the end of the period	100P	XXXXXXXXXXXXXX	35.911.650,59
Issued capital at the end of the period	(100)	35.911.650,59
	Codes	Amounts	Number of shares
Changes during the period
Structure of the capital Different categories of shares
		35.911.650,59	28.497.519
Registered shares	8702	XXXXXXXXXXXXX	28.497.519
Shares dematerialized	8703	XXXXXXXXXXXXXX

	Codes	Uncalled capital	Capital called, but not paid
Capital not paid
Uncalled capital	(101)		XXXXXXXXXXXXXX
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
Number of shares held	8722
Held by the subsidiaries
Amount of capital held must must must be a material and the control of capital held	8731
Number of shares held	8732
Commitments to issue shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans	8740
Amount of capital to be subscribed	8741
Corresponding maximum number of shares to be issued	8742
Owing to the exercise of subscription rights
Number of outstanding subscription rights	8745
Amount of capital to be subscribed	8746
Corresponding maximum number of shares to be issued	8747
Authorized capital, not issued manufactured and contained and contained and contained and contained and contained and contained and contained and contained and contained and contained and contained and contained and contai	8751

$\bar{a}$

Nr.	0464.030.479		$C$ 6.7.1
		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

$\bar{z}$

STRUCTURE OF SHAREHOLDINGS OF THE ENTERPRISE AT YEAR-END CLOSING DATE

as shown by the notifications received by the company in accordance with the Companies Code, Article 631 §2, final paragraph, and Article 632 §2, final paragraph; the act of 2 May 2007 on the disclosure of major holdings, Article 14, paragraph four; and the Royal Decree of 21 August 2008 comprising further rules on certain multilateral trading facilities, Article 5.

AANDEELHOUDERSSTRUCTUUR VAN DE ONDERNEMING OP DE DATUM VAN DE JAARAFSLUITING

zoats die blijkt uit de kennisgevingen die de onderneming heeft ontvengen overeenkomstig het Wethoek van vermootschappen, antkel
631 §2 laatste lis en artikel 632 §2 laatste lid; de wet van 2 mei 2007 betreffende de openba

NAAM van de personen die maatschappelijke rechten van de onderneming-	Azagehauden maztschappelijke rechten
In eigendem hebben, met vermelding van het ADRES (van de		Racial stampshire
meatechoppelike zetel, zo het een rechtspersoon betreft), en van het ONDERNEWEVESNUMMER, zo het een ondernaming naar Belgisch recht betreft	Aard	Verboriden. aan elleden	Nel verbenden asa ellecters	×
Proximus NV, Koning Albert Haan 27, 1030 Brussel, Belgie Ordementngsnummer: 0202.231.951	Op naam	28.497.518		99 99%
Proximus OPAL NV, Kening Albert II-laan 27, 1030 Brucsel, Belgle Ondernemingsnummer: 0861.585.672	Opiniaan	1		00.01%

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

ANALYSIS OF THE HEADING 164/5 OF LIABILITIES IF THE AMOUNT IS SIGNIFICANT

Provision transformation plan Provisions disputes

978.244,66 518.912,39

$P$ eriod

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED

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

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

	Codes	Period
AMOUNTS PAYABLE FOR TAXES, REMUNERATION AND SOCIAL SECURITY
(headings 450/3 and 178/9 of the labilities) Taxes
Expired taxes payable	9072
Non expired taxes payable	9073	119.577.75
Estimated taxes payable	450	16.197.00
Remuneration and social security (headings 454/9 and 178/9 of the liabilities)
Amount due to the National Office of Social Security	9076
Other amounts payable relating to remuneration and social security	9077	2.217.319.62

Nr. 0464.030.479	C6.9
	Period
ACCRUED CHARGES AND DEFERRED INCOME
Allocation of heading 492/3 of liabilities if the amount is significant

Provisions clawback commissions

1.018.013,46

OPERATING RESULTS
	Codes	Period	Previous period
OPERATING INCOME
Net turnover
Broken down by categories of activity
Uitsplitsing per geografische markt
Belgium		18.386.067.94	37.629.441.08
Other operating income
Operating subsidies and compensatory amounts received from public authorities	740
OPERATING COSTS
Employees for whom the company has submitted a DIMONA declaration or are recorded in the general personnel register
Total number at the closing date	9086	262	310
Gemiddeld personeelsbestand berekend in voltijdse equivalenten	9087	282.1	346.1
Number of actual worked hours	9088	290.597	495.413
Personnel costs
Remuneration and direct social benefits	620	7.914.754.49	13.553.806.28
Employers' social security contributions	621	2.032.954,33	3.653.386,36
Employers' premiums for extra statutory insurances	622	13.363.70	23.560,37
Other personnel costs	623	398.479,39	$-12.492,28$
Old-age and widows' pensions	624

ı

	Codes	Period	Previous period
Provisions for pensions
Additions (uses and write-back)	635
Amounts written off
Stocks and contracts in progress
Recorded	9110	81.979.62	55.996,29
Written back	9111	245.849.77	312.061,74
Trade debtors
Recorded	9112	4.235.10	150.000,00
Written back	9113		150.149,95
Provisions for risks and charges
Additions	9115
Uses and write-back	9116	897.998,77	1.601.797.00
Other operating charges
Taxes related to operation	640	9.738,09	30.917,31
Other charges	641/8
Hired temporary staff and persons placed at the enterprise's disposal
Total number at the closing date	9096		3
Average number calculated as full-time equivalents	9097	2.2	2.5
Number of actual worked hours	9098	3.358	4.296
Charges to the enterprise	617	126.827,81	119.672,44

FINANCIAL RESULTS

	Codes	Period	Previous period
RECURRING FINANCIAL INCOME
Other financial income
Subsidies granted by public authorities and recorded as income for the period
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501
Capitalized Interests	6503
Amounts written off current assets
Recorded	6510
Written back	6511
Other financial charges
Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial charges
Bank charges		60.377.05	135.861.42
Exchange differences		7.577.12	171.068.97

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

	Codes	Period	Previous period
NON-RECURRING INCOME	76	893.266.51	200.000.00
Non-recurring operating income	(76A)	893.266,51	200.000,00
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
Write-back of provisions for extraordinary operating liabilities and charges	7620	885.266.18
Capital gains on disposal of intangible and tangible fixed asset	7630
Other non-recurring operating income	764/8	8.000.33	200.000.00
Non-recurring financial income	(76B)
Write-back of amounts written down financial fixed assets	761
Write-back of provisions for extraordinary financial liabilities and charges	7621
Capital gains on disposal of financial fixed assets	7631
Other non-recurring financial income	769
NON-RECURRING EXPENSES	66	2.052.660,77	4.556.925,92
Non-recurring operating charges	(66A)	2.052.660.77	4.556.925,92
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660	813.271.88	2.402.153,01
Provisions for extraordinary operating liabilities and charges: Appropriations (uses)	6620	772.351.17	1.466.381.69
Capital losses on disposal of intangible and tangible fixed assets	6630
Other non-recurring operating charges	664/7	467.037.72	688.391,22
Non-recurring operating charges carried to assets as restructuring costs ……………………………………………………………………………………………	6690
Non-recurring financial charges	(66B)
Amounts written off financial fixed assets	661
Provisions for extraordinary financial liabilities and charges - Appropriations (uses)	6621
Capital losses on disposal of financial fixed assets	6631
Other non-recurring financial charges	668
Non-recurring financial charges carried to assets as restructuring 00sts	6691

INCOME TAXES

Income taxes on the result of the period
Income taxes paid and withholding taxes due or paid
Excess of income tax prepayments and withholding taxes paid recorded under assets
Estimated additional taxes
Income taxes on the result of prior periods
Additional income taxes due or paid
Additional income taxes estimated or provided for

In so far as taxes of the period are materially affected by differences between the profit before taxes as stated in annual accounts and the estimated taxable profit

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

Codes	Period
9134	7.547,34
9135
9136
9137	7.547,34
9138
9139
9140

Period

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141	111.278.952.80
Accumulated tax losses deductible from future taxable profits	9142	110.800.351.80
Other deferred taxes representing assets
Transfer notional interest deduction		309.668,00
Transfer investment deduction		168.933.00
Passieve latenties	9144
Allocation of deferred taxes representing liabilities

	Codes	Period	Previous period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	512.588.44	912.620,30
By the enterprise	9146	1.864.087.80	5.148.060.67
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	1.866.143.73	3.273.713.53
For withholding taxes on investment income	9148

$C$ 6.13

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

	Codes	Period
PERSONAL GUARANTEES PROVIDED OR IRREVOCABLY PROMISED BY THE ENTERPRISE AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES	9149
Of which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are quaranteed by the enterprise	9153
REAL GUARANTEES
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of the enterprise
Mortgages
Book value of the immovable properties mortgaged	9161
Amount of registration	9171
Pledging of goodwill - Amount of the registration	9181
Pledging of other assets - Book value of other assets pledged	9191
Guarantees provided on future assets - Amount of assets involved	9201
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of third parties
Mortgages
Book value of the immovable properties mortgaged	9162
Amount of registration	9172
Pledging of goodwill - Amount of the registration	9182
Pledging of other assets - Book value of other assets pledged	9192
Guarantees provided on future assets - Amount of assets involved	9202

	Codes	Period
GOODS AND VALUES, NOT DISCLOSED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN THEIR OWN NAME BUT AT RISK TO AND FOR THE BENEFIT OF THE ENTERPRISE
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received) manufactured and contain an anti-manufactured and contained and contained and	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215
Currencies sold (to be delivered)	9216

402.558.46

AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS
SUPPLEMENT RETIREMENTS OR SURVIVORS PENSION PLANS IN FLAVOUR OF THE PERSONNEL OR THE EXECUTIVES O THE ENTERPRISE
Brief description
The company has a group insurance at a Belgian insurance company for the benefit of its executives. The company has a defined contribution pension plan t financed via group insurance plan. These plans are subject to a minimum efficiency guaranteed by the employer as determined by the law of 28 april
Measures taken by the enterprise to cover the resulting charges
	Code	Period
PENSIONS FUNDED BY THE ENTERPRISE
Estimated amount of the commitments resulting from past services	9220
Methods of estimation
		Period
NATURE AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE NOT INCLUDED IN THE BALANCE SHEET OR THE INCOME STATEMENT
		Period
COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR
SALE OR PURCHASE
		Period
NATURE AND COMMERCIAL OBJECTIVE OF TRANSACTIONS NOT REFLECTED IN THE BALANCE
SHEET
Provided that the risks or advantages coming from these transactions are significant and if the

disclosure of the risks or advantages is necessary to appreciate the financial situation of the company

Estimated rent obligation

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

Nr.

$\bar{z}$

0464.030.479

COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

$C$ 6.14

Period

$\lceil$

$Period$

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET (including those which can not be quantified)

Period

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

	Codes	Period	Previous period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)
Participating interests	(280)
Subordinated amounts receivable	9271
Other amounts receivable	9281
Amounts receivable	9291	20.352.334,33	25.381.344.33
Over one year	9301
Within one year	9311	20.352.334,33	25.381.344,33
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	109.657,20	3.244.212,74
Over one year	9361
Within one year	9371	109.657.20	3.244.212.74
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of affiliated enterprises	9381
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391
Other significant financial commitments	9401
Financial results
Income from financial fixed assets	9421
Income from current assets	9431
Other financial income	9441
Debt charges	9461
Other financial charges	9471
Disposal of fixed assets
Capital gains obtained	9481
Capital losses suffered	9491

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

	Codes	Period	Previous period
ASSOCIATED ENTERPRISES
Financial fixed assets	9253
Participating interests	9263
Subordinated amounts receivable	9273
Other amounts receivable	9233
Amounts receivable	9293
Over one year	9303
Within one year	9313
Amounts payable	9353
Over one year	9363
Within one year	9373
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of associated enterprises	9383
Provided or irrevocably promised by associated enterprises as security for debts or commitments of the enterprise	9393
Other significant financial commitments	9403
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets measurement contains and the state of the state of the state of the state of the state o	9252
Participating interests	9262
Subordinated amounts receivable	9272
Other amounts receivable	9282
Amounts receivable	9292
Over one year	9302
Within one year	9312
Amounts payable	9352
Over one year	9362
Within one year	9372

TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS

Mention of these transactions if they are significant, including the amount of the transactions, the nature of the link, and all information about the transactions which should be necessary to get a better understanding of the situation of the company

Period

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

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

The enterprise has drawn up published 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 limits mentioned in art. 16 of Gompany Law*-

The enterprise only has subsidiaries which, considering the assessment of the consolidated assets, consolidated financial position or eonsolidated results, individual or together, are of a negligible size* (Art, 110 of Gompany Law)

The enterprise itself is a subsidiary of an enterprise which does prepare and publish consolidated accounts in which annual accounts of the enterprise are included*

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

The Company Wireless Technologies NV is part of the Proximus group that publishes consolidated annual accounts.

Name, full address of registered office and, for an enterprise governed by Belgian Law, the V. A. T. or national number of the parent company preparing and publishing the consolidated accounts required

PROXIMUS NV

Koning Albert II-laan 27

1030 Brussel 3, Belgium

0202.239.951

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

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

Delete where no appropriate.

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

VALUATION RULES

BE 0464.030.479

Summary of tthe valuation rules.

General principles :

The annual accounts have been made in accordance with the guidelines of the law of 21 January 2001 and the corresponding royal decrees

Intangible Fixed Assets

Intangible fixed assets consist of the key money of the rented buildings and goodwill. The key money is valued at acquisition cost and amortised on a linear basis over a period of nine years. This period corresponds to the term of the leases.

The Goodwill is mainly software.

Thanks to this acquisition and the resulting synergies and economies of scale (bargaining power, overhead structure and customers trust) The Phone House has become the leader among the "Telecom specialists". This goodwill is amortised over a period of 20 years According to the Board of Shop Managers the net book value of €0 and the 20-year depreciation period is justified because of the favorable perspectives in terms of profit and turnover.

The activated software is included under the post goodwill on C 6.2.4 for a total net book value of 67 K Eur and are linear depreciated over 48 or 60 months.

Tangible fixed assets:

Tangible fixed assets are valued at acquisition price. They are linear depreciated as from the time of use and about their economic life. The depreciation rates are as follows: percentages :

33% Exhibition equipment

20% Furniture, vehicles and computer equipment

20% Leasing and similar rights

11.1% other tangible fixed assets (Shopfitting)

Sold or disposed fixed assets are reversed. The result of this is processed in the income statement. The repair and maintenance costs are recognised immediately in the income statement. If necessary, additional depreciation or impairment losses are booked taking into account the expected remaining useful life.

Inventory

Inventory is valued at acquisition cost according to the weighted average price method, unless this exceeds the market value ("lower of cost or market" principle). On balance sheet date a provision is booked for obsolete or slow rotating inventory items. Foreign Currency

The amounts in foreign currencies are converted into EURO at the balance sheet date in accordance with the official exchange rate. The resulting latent foreign exchange gains will be delayed through the deferred charges account of the liabilities and the latent exchange losses are booked in the income statement.

Other liabilities and charges

Provisions for liabilities and charges are posted for clearly identified losses or charges, which are on het balance sheet date probable or certain but of which the amount is uncertain.

Trade Pavables

Amounts owed are valuated at nominal value.

Valuation rules:

Mobile phones: the turnover from the sale of mobile phones and accessories is booked in P&L at the time of the sale, as well as the acquisition cost.

Network commissions: the commissions for the sale of connections are booked at he moment of the sale, with a provision for future clawback & non-payment, based on the current rates of the previous months.

Insurances: the turnover from the sale of the insurances follows the payment pattern of the premiums customers pay. Each month, the turnover is posted based on the premium payments of the customer base in that month

Due to lack of legal criteria, which will allow to identify the transactions with related parties outside normal market conditions, any information could be nut under C 6.15.

Based on the previous, the Board of Directors, in application of article 96.6 ° of the companies code, consider that the going concern valuation rules, in the assumption of continuity, can be kept.

OTHER DOCUMENTS TO BE DEPOSITED IN ACCORDANCE WITH THE COMPANIES CODE

MANAGEMENT REPORT

WIRELESS TECHNOLOGIES Naamloze Vennootschap Koning Albert II laan 27 1030 Schaarbeek (the "Company")

Company n°: 0464.030.479 (Brussels Legal entities Register) VAT-nummer: BE 464.030.479

ANNUAL REPORT FOR THE ACCOUNTING PERIOD ENDED 30 SEPTEMBER 2016

Dear shareholder,

On 20 October 2016, an Extraordinary Shareholders' Meeting of the Company was held during which you approved the operation whereby Proximus SA, as the acquiring company, acquired Wireless Technologies SA, as acquired company, through a transaction equivalent to a merger by acquisition (in accordance with Article 676, 1° of the Belgian Companies Code). This transaction was done in accordance with Article 719 and following of the Belgian Companies Code.

Since the transaction was executed without retroactive effect, for accounting purposes, adjacent to the fiscal year ending 31 December 2015, these annual accounts for the period starting 1 January 2016 up until the date on which the operations of the Company are considered to be carried out for the account of Proximus SA (1 October 2016) must be drafted. In accordance with Article 727 of the Belgian Companies Code, these annual accounts have to be submitted for approval to the Shareholders' Meeting of Proximus SA (including the decision to grant discharge to the Directors of the Company).

Considering the above, we have the pleasure of reporting on our management of the Company and submitting, for your approval, the annual accounts for the accounting period as per 30 September 2016.

Both this annual report and the annual accounts are put at your disposal.

1. THE DEVELOPMENT THE RESULTS AND THE RISKS OF THE COMPANY

1.1. Comments on the annual accounts as per 30 september 2016

The Company closed the accounting year ended on 30 September 2016 with a loss of:

$€$ <5.690.020.08>.

The above mentioned loss can be detailed as follows:

Operating revenues for the year ended 30 September 2016 amounted to € 19.448.565.88, which amounted to € 40.775.373.04 for the year ended 31 December 2015. These revenues include non-recurring operating income. These amount to € 893,266.51 for the year ended 30 September 2016, which amounted to € 200,000.00 for the year ended 31 December 2015.

Operating expenses for the year ended 30 September 2016 amounted to € 25,063,045.92, which amounted to € 51,528,155.90 for the year ended 31 December 2015.

These operating expenses include non-recurring operating expenses. These amount to €2,052,660.77 for the year ended 30 September 2016, which amounted to €4,556,925.92 for the year ended 31 December 2015.

As a conclusion, the operating loss for the accounting period ended 30 September 2016 amounts to $\epsilon$ <5.614.480.04>.

Identical to the previous accounting period ended 31 December 2015, the financial income for the accounting period ended 30 September 2016 were € 0 (zero).

The financial charges for the accounting period ended 30 September 2016 amounted to € 67,992.70, compared to € 307,460.63 for the accounting period closed per 31 December 2015.

Therefore, the loss before taxes for the period ended 30 September 2016 amounted to $\epsilon$ <5,682,472.74>.

The income taxes on the result of the accounting period ended 30 September 2016 are $\epsilon$ 7,547.34.

The Board of Directors concludes that the loss available for appropriation for the accounting period ended 30 September 2016 equals €<5,690,020.08>.

1.2. Most important risks and uncertainties

The Board of Directors concluded that the most important risks and uncertainties the Company faced during the accounting period ended 30 September 2016 were:

(i) The maturity of the mobile phone (GSM) market combined with the increase of the operational expenses (e.g. headcount costs);

OTHER DOCUMENTS TO BE DEPOSITED IN ACCORDANCE WITH THE COMPANIES CODE

MANAGEMENT REPORT

(ii) The fierce competition in the sector and the relating pressure on the margins.

1. APPROPRIATION OF THE RESULT

The Board of Directors proposes to appropriate the result of the accounting period ended 30 September 2016 as follows:

- Loss of the accounting period ended 30 September 2016
- Losses carried forward previous years:

Loss to be carried forward:

The equity of the Company per 30 September 2016 was € 19,151,642.68 and is composed as follows:

35,911,650.59 EUR - Capital : - Losses carried forward: Equity per 30 September 2016:

<16,760,007.91> EUR 19,151,642.68 EUR

<16,760,007.91> EUR

<5.690.020.08> EUR <11,069,987.83> EUR

3. VALUATION RULES CONSIDERED IN VIEW OF GOING CONCERN

The Board of Directors notes that Article 96, 6° of the Belgian Companies Code applies as the Balance Sheet shows a loss carried forward, and the profit and loss statements of the two previous consecutive years showed losses.

In view of the foregoing, and pursuant to Article 96, 6° of the Belgian Companies Code, the Board of Directors, believe that the valuation rules can be maintained in the assumption of continuity.

4. IMPORTANT EVENTS THAT HAVE OCCURRED AFTER THE CLOSING OF THE ACCOUNTING PERIOD

On 20 October 2016, the Board of Directors of Proximus SA and the Extraordinary Shareholders' Meeting of the Company approved the aforementioned transaction equivalent to a merger by acquisition. As a consequence of this transaction equivalent to a merger by acquisition, the total assets of the Company automatically transferred without any exception nor prejudice to Proximus SA. All operations of the Company as from 1 October 2016 were deemed carried out on behalf of Proximus SA for accounting and tax purposes.

Except for the aforementioned transaction equivalent to a merger by acquisition, there are no events to report after the close of the accounting period on 30 September 2016 that are of such a nature that they could misrepresent the image of the financial statements at 30 September 2016.

5. CIRCUMSTANCES THAT CAN SIGNIFICANTLY INFLUENCE THE DEVELOPMENT OF THE COMPANY TO THE EXTENT THAT THEY DO NOT DISADVANTAGE THE COMPANY

The Board of Directors informs the Shareholder that no such circumstances occurred during the accounting period ended as per 30 September 2016.

6. RESEARCH AND DEVELOPMENT ACTIVITIES.

During the accounting period ended as per 30 September 2016, the Company did not start neither continue Research and Development activities.

7. CAPITAL INCREASES AND ISSUE OF CONVERTIBLE BONDS

During the accounting period ended 30 September 2016, there was no capital increase nor did the Company issue Convertible Bonds.

8. ACQUISITION OF OWN SHARES

The Company did not, for the whole accounting period ended 30 September 2016, acquire, directly or indirectly through third party intervention, its own shares.

9. CONFLICTS OF INTEREST

During the accounting period ended 30 September 2016, the Board of Directors did not take any decision relating to any matter which gave rise to a conflict of interest in accordance with Article 523 of the Belgian Companies Code.

MANAGEMENT REPORT

1. BRANCHES OUTSIDE BELGIUM

The Company has no branches outside Belgium.

11. USE OF FINANCIAL INSTRUMENTS

In accordance with Article 96,8° of the Belgian Companies Code, the Board of Directors informs the Shareholder that no financial instrument was used by the Company during the accounting period ended per 30 September 2016, which could influence the valuation of assets, liabilities, the financial situation and the profit or loss.

12. PAYMENT OF VALUE ADDED TAX AND PAYROLL TAXES

In accordance with Article 442quarter of the Belgian Code of Income Tax (1992) and Article 93undecies of the Belgian Code on Value Added Tax, the Board of Directors informs the Shareholder that the Company has no outstanding debts regarding to these taxes and that the Company is in compliance with all relevant legal obligations.

$\pm \pm \pi$

We hereby submit for your approval the annual accounts, which give a fair, comprehensive and accurate presentation of the activities that have taken place during the financial year ended on 30 September 2016, and ask that you grant discharge for the exercise of our mandate and that of the auditor for the fiscal year ended on 30 September 2016.

Date: 23 February 2017

For the Board of Directors:

Diederik Bossuyt Director Director Eusebio Nickmans

Nr. .	0464.030.479

REPORT OF THE AUDITORS

$C8$

Verslag commissaris 2016 : draft volgt later

Nr. 0464.030.479

REPORT OF THE AUDITORS

Verslag commissaris 2016 : draft volgt later

Nr.	0464.030.479

REPORT OF THE AUDITORS

Verslag commissaris 2016 : draft volgt later

SOCIAL BALANCE SHEET

Number of joint industrial committee:

STATEMENT OF THE PERSONS EMPLOYED EMPLOYEES FOR WHOM THE ENTERPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER

During the current period Codes		Total	1. Men	2. Women
Average number of employees
Full-time	1001	274.6	198.8	75,8
Part-time	1002	10.2	2,9	7,3
Total in full-time equivalents	1003	282.1	201.1	81,0
Number of hours actually worked
Full-time	1011	282.904	212.581	70.323
Part-time	1012	7.693	2.473	5.220
Total	1013	290.597	215.054	75.543
Personnel costs
Full-time	1021	10.130.895.41	7.612.602.22	2.518.293.19
Part-time	1022	228.656.50	73.515.20	155.141.30
Total	1023	10.359.551,91	7.686.117,42	2.673.434,49
Advantages in addition to wages	1033	279.632.89	204.704.50	74.928,39

During the preceding period Codes		P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003	346.1	243,6	102,5
Number of hours actually worked	1013	495.413	355.516	139.897
Personnel costs	1023	17.218.260,73	12.225.217.86	4.993.042.87
Advantages in addition to wages	1033	355.613.53	251.610,27	104.003.26

	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
At the closing date of the period
Number of employees	105	252	10	259,4
By nature of the employment contract
Contract for an indefinite period	110	252	10	259,4
Contract for a definite period	111
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to gender and study level
Men	120	186	3	188.4
primary education	1200	2		2,0
secondary education	1201	166	$\mathbf{2}$	167.6
higher non-university education	1202	14	1	14.8
university education	1203	4		4,0
Women	121	66	7	71,0
primary education	1210			1.0
secondary education	1211	55	6	59,2
higher non-university education	1212	8	1	8.8
university education	1213	2		2,0
By professional category
Management staff	130
Employees	134	252	10	259.4
Workers	132
Others	133

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

ICodes During the period		1. Hired temporary staff	2. Persons placed at the enterprise's disposal
Average number of persons employed	150	2.2
Number of hours actually worked	151	3.358
Costs for the enterprise	152	126.827,81

LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

ENTRIES ICodes		1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees for whom the entreprise submitted a DIMONA declaration or who have been recorded in the general personnel register during the financial year words	205	16		16,0
By nature of employment contract
Contract for an indefinite period	210	13		13,0
Contract for a definite period	211	3		3.0
Contract for the execution of a specifically assigned work	212
Replacement contract	213

DEPARTURES Codes		1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees whose contract-termination date has been entered in DIMONA declaration or in the general personnel register during the financial year		63		63,0
By nature of employment contract
Contract for an indefinite period	310	59		59,0
Contract for a definite period	311	4		4.0
Contract for the execution of a specifically assigned work	312
Replacement contract	313
By reason of termination of contract
Retirement	340
Unemployment with extra allowance from enterprise	341
Dismissal		24		24,0
Other reason		39		39.0
Of which the number of persons who continue to render services to the enterprise at least half-time on a self-employed basis	350

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

Total of initiatives of formal professional training at the expense of the employer	Codes	Men	Codes	Women
Number of employees involved	5801	204	5811	82
Number of actual training hours	5802	3.770	5812	1.518
Net costs for the enterprise	5803	24.548.69	5313	9.887.83
of which gross costs directly linked to training	58031	24.548,69	58131	9.887.83
of which fees paid and paiments to collective funds	58032		58132
of which grants and other financial advantages received (to deduct)	58033		58133
Total of initiatives of less formal or informal professional training at the expense of the employer
Number of employees involved	5821		5831
Number of actual training hours	5822		5832
Net costs for the enterprise	5823		5833
Total of initiatives of initial professional training at the expense of the employer
Number of employees involved	5841		5851
Number of actual training hours	5842		5852
Net costs for the enterprise	5843		5853