40				EUR 1
NAT. Date of the deposition		No. 0202.239.951	pp.	Ε. D.		C ₁
ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE DEPOSITED IN ACCORDANCE WITH THE COMPANIES CODE
IDENTIFICATION (on the date of deposition)
NAME: PROXIMUS
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
Internet address :		Register of Legal Persons (RLP) - Office of the Business Court at: Brussel, Dutch-speaking
					Company number:	0202.239.951
07/05/2020 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.
ANNUAL ACCOUNTS		IN EURO	2
		ANNUAL ACCOUNTS approved by by the General Meeting of				21/04/2021
		concerning the financial year covering the period from		01/01/2020	till	31/12/2020
		Previous period from		01/01/2019	till	31/12/2019
		The amounts of the previous financial year are / $\text{area}^{-3}$ identical to those which have been previously published.
Total number of pages deposited: 67 Number of the pages of the standard form not deposited for not being of service: 6.1, 6.2.1, 6.2.2, 6.2.5, 6.5.2, 9, 11, 12, 13, 14, 15, 16
Signature 1 Signature (name and position) (name/and position)
	BOUTIN Quijlaume				DE ØLERCK Stefaan
	Chief Executive Officer				Chairman

Nr.	0202.239.951		C 1
-----	--------------	--	-----	--	--

This annual account concerns a company that is subject to the provisions of the new Belgian Companies and 4

Associations Code dated 23 March 2019: Yes / No

Companies required to draw up and submit their annual accounts in accordance with the provisions of the Belgian Companies and Associations Code also use this model. The following applies for these annual accounts:

'Belgian Companies Code' should be understood to mean 'Belgian Companies and Associations Code'.
In the following sections, the articles of the Belgian Companies Code refer to the following articles of the Belgian Companies and Associations Code.

Section	Belgian Companies Code	Belgian Companies and Associations Code
C 6.7.2	art. 631, §2 and 632, §2	art. 7:225
C 6.16	art. 134	art. 3:64, §2 and §4
C 6.18.1	art. 16	art. 1:26
	art. 110	art. 3:23
	art. 113, §2 and §3	art. 3:26, §2 and §3
C 6.18.2	art. 134, §4 and §5	art. 3:65, §4 and §5
	art. 134	art. 3:64, §2 and §4
C 11	art. 100, §1, 6°/3	art. 3:12, §1, 9°
C 12	art. 261, 1st and 3rd paragraph	art. 5:77, §1
C 13	art. 646, §2, 4th paragraph	art. 7:231, 3rd paragraph
C 14	art. 938 and art. 1001	art. 15:29 and art. 16:27
C 15	art. 100, §1, 6°/1	art. 3:12, §1, 7°

Code 11 'Share premium account' should be understood to mean 'Contributions (- Beyond capital)'.
Code 6503 'Capitalised interests' should be understood to mean 6502 'Capitalised interests' by reason of the new minimum layout of the general chart of accounts.

The company is a company without share capital: Yes / No 5

If so, the amounts included under code 11 'Share premium account' must be broken down according to 'Contributions – Available' and 'Contributions – Not available'.

Contributions Period

Available Not available

Delete where appropriate. 4

Delete where appropriate. 5

Nr.	0202.239.951		C 2.1
-----	--------------	--	-------

BOUTIN Guillaume, Chief Executive Officer and Managing Director Rue Darwin 27, 1050 Brussels, BELGIUM
DE CLERCK Stefaan, Chairman of the Board of Directors Damkaai 7, 8500 Kortrijk, BELGIUM
DE GUCHT Karel, President of the Institute of European Studies and Director of Companies Hoogstraat 9, 9290 Berlare, BELGIUM Director
DUREZ Martine, Director of Companies Avenue de Saint-Pierre 34, 7000 Mons, BELGIUM Director
SANTENS Isabelle, Director of Companies Wannegem-Ledestraat 36, 9772 Kruisem, BELGIUM Director
VAN de PERRE Paul, CEO Five Financial Solutions Leliestraat 80, 1702 Dilbeek, BELGIUM Director

Representatives of shareholders other than the Belgian State:

DEMUELENAERE Pierre, Director of Companies Rue des Couteliers 24, 1490 Court Saint-Etienne, BELGIUM Director
DE PRYCKER Martin, Managing Partner Qbic Fund De Cauwerstraat 41, 9100 Sint-Niklaas, BELGIUM Director
RUTTEN Catherine, Vice-President International, Government Affairs & Public Policy Vertex Pharmaceuticals Avenue Emile Van Becelaere 107, 1170 Watermael-Boitsfort, BELGIUM Director
SONNE Joachim, Finance Advisor (as of 29/7/2019) Asgardstrasse 28, 81925 Munich, GERMANY Director
TOURAINE Agnès, Chef d'entreprise 5 Rue de Budé, 75004 Paris, FRANCE Director
VANDENBORRE Catherine, Chief Financial Officer Elia Clos du Champ de Bourgeois 11, 1330 Rixensart, BELGIUM Director
VAN DEN HOVE Luc, President & CEO imec Jachthuislaan 29, 3210 Lubbeek, BELGIUM Director

Nr.	0202.239.951		C 2.1
-----	--------------	--	-------

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

DELOITTE, Réviseurs d'entreprises S.C.R.L Gateway Building, Luchthaven Brussel Nationaal 1 J, 1930 Zaventem, BELGIUM Chairman of the Board of Auditors Company number: BE 0429.053.863 Number of membership with the Institute of Auditors: B00025

Represented by Geert Verstraeten Gateway Building, Luchthaven Brussel Nationaal 1 J, 1930 Zaventem, BELGIUM Auditor Number of membership with the Institute of Auditors: A01481

DEBUCQUOY Jan, Councillor Auditor's Office Oude Sint-Gommarusstraat 27, 2800 Mechelen, BELGIUM Auditor
RION Pierre, Councillor Auditor's Office Rue Nestor-Bouillon 40A, 5377 Sinsin, BELGIUM Auditor

CDP Petit & Co SRL Square de l'Arbalète 6, 1170 Watermael-Boitsfort, BELGIUM Auditor Company number: BE 0670.625.336 Number of membership with the Institute of Auditors: B00938

Represented by Damien Petit Avenue Princesse Paola 6, 1410 Waterloo, BELGIUM Auditor Number of membership with the Institute of Auditors: A01500

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.

Yes / No Have the annual accounts been audited or adjusted by an external accountant or auditor who is not an 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 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 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
FIXED ASSETS		21/28	6.045.366.616	6.349.418.087
Intangible fixed assets	6.2	21	2.078.796.871	2.388.781.287
Tangible fixed assets	6.3	22/27	2.674.606.186	2.716.226.861
Land and buildings		22	102.009.779	111.013.223
Plant, machinery and equipment		23	2.534.958.612	2.573.508.155
Furniture and vehicles		24	10.927.607	14.168.846
Leasing and other rights		25	259.251	198.877
Other tangible fixed assets		26	14.550.937	17.337.760
Tangible assets under construction and advance payments made		27	11.900.000
Financial fixed assets	6.4 / 6.5.1	28	1.291.963.559	1.244.409.939
Affiliated enterprises	6.15	280/1	1.285.742.999	1.238.111.531
Participating interests		280	1.285.742.999	1.238.111.531
Amounts receivable		281
Other enterprises linked by participating interests	6.15	282/3	3.925.493	3.925.594
Participating interests		282	3.925.493	3.925.594
Amounts receivable		283
Other financial assets		284/8	2.295.067	2.372.814
Shares		284
Amounts receivable and cash guarantees		285/8	2.295.067	2.372.814

	Notes	Codes	Period	Previous period

CURRENT ASSETS		29/58	1.187.339.523	1.425.566.670
Amounts receivable after more than one year		29	89.013.383	89.013.383
Trade debtors		290
Other amounts receivable		291	89.013.383	89.013.383
Stocks and contracts in progress		3	92.897.862	118.809.580
Stocks		30/36	77.149.075	97.136.523
Raw materials and consumables		30/31	27.414.507	34.068.812
Work in progress		32
Finished goods		33
Goods purchased for resale		34	49.734.568	63.067.711
Immovable property intended for sale		35
Advance payments		36
Contracts in progress		37	15.748.787	21.673.057
Amounts receivable within one year		40/41	478.373.433	573.068.008
Trade debtors		40	352.356.753	429.492.850
Other amounts receivable		41	126.016.680	143.575.158
Current investments	6.5.1 / 6.6	50/53	357.919.416	398.631.626
Own shares		50	248.582.117	383.947.044
Other investments and deposits		51/53	109.337.299	14.684.582
Cash at bank and in hand		54/58	114.010.043	183.259.831
Deferred charges and accrued income	6.6	490/1	55.125.386	62.784.242
TOTAL ASSETS		20/58	7.232.706.139	7.774.984.757

	Notes	Codes	Period	Previous period
EQUITY AND LIABILITIES
EQUITY		10/15	1.657.880.529	1.674.500.685
Capital	6.7.1	10	1.000.000.000	1.000.000.000
Issued capital		100	1.000.000.000	1.000.000.000
4 Uncalled capital		101
Share premium account		11
Revaluation surpluses		12
Reserves		13	356.737.490	507.212.579
Legal reserve		130	100.000.000	100.000.000
Reserves not available		131	248.949.792	398.723.795
In respect of own shares held		1310	248.582.117	383.947.044
Others		1311	367.675	14.776.751
Untaxed reserves		132	7.787.698	8.488.784
Available reserves		133
Accumulated profits (losses) (+)/(-)		14	301.143.039	167.288.106
Investment grants		15
Advance to associates on the sharing 5 out of the assets		19
PROVISIONS AND DEFERRED TAXES		16	673.928.271	913.260.950
Provisions for liabilities and charges		160/5	672.865.958	911.964.942
Pensions and similar obligations		160
Taxation		161
Major repairs and maintenance		162
Environmental liabilities		163	2.491.036	2.571.430
Other risks and costs	6.8	164/5	670.374.922	909.393.512
Deferred taxes		168	1.062.313	1.296.008

⁴ Amount to be deducted from the issued capital.

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

Notes	Codes	Period	Previous period
		4.900.897.339	5.187.223.122
			2.737.656.018
			2.632.314.041


			1.956.314.041

			400.000.000
			276.000.000
			105.341.977
			105.341.977



6.9	42/48	2.229.116.241	2.361.580.551
	42	82.920.093	78.310.971
	43	1.015.701.182	996.127.562
	430/8		156.000.000
	439	1.015.701.182	840.127.562
	44	608.358.719	639.207.326
	440/4	608.358.719	639.207.326
	441
	46	1.433.436	4.599.347
6.9	45	246.693.874	278.273.418
	450/3	88.968.228	97.276.173
	454/9	157.725.646	180.997.245
	47/48	274.008.937	365.061.927
6.9	492/3	84.435.552	87.986.553
	10/49	7.232.706.139	7.774.984.757
	6.9	17/49 17 170/4 170 171 172 173 174 175 1750 1751 176 178/9	2.587.345.546 2.507.184.805 2.107.184.805 400.000.000 78.490.373 78.490.373 1.670.368

INCOME STATEMENT

	Notes	Codes	Period	Previous period
Operating income and charges		70/76A	4.194.754.005	4.318.780.745
Turnover	6.10	70	3.786.085.792	3.886.699.793
Increase (decrease) in stocks of finished goods, work and contracts in progress (+)/(-)		71	-5.924.270	-1.492.195
Own construction capitalised		72	367.840.506	371.881.360
Other operating income	6.10	74	46.226.442	60.400.643
Non-recurring operating income	6.12	76A	525.535	1.291.144
Operating charges		60/66A	3.911.031.471	4.395.568.631
Raw materials, consumables		60	529.782.192	530.922.125
Purchases		600/8	510.171.896	533.534.093
Decrease (increase) in stocks (+)/(-)		609	19.610.296	-2.611.968
Services and other goods		61	1.278.697.123	1.310.957.202
Remuneration, social security costs and pensions (+)/(-)	6.10	62	787.874.400	894.677.615
Depreciation of and amounts written off formation expenses, intangible and tangible fixed assets		630	1.250.960.480	1.257.410.499
Increase, Decrease in amounts written off stocks contracts in progress and trade debtors: Appropriations (write-backs) (+)/(-)		631/4	-2.482.082	-9.125.767
Provisions for risks and charges - Appropriations (uses and write-backs) (+)/(-)	6.10	635/8	7.938.281	3.044.904
Other operating charges	6.10	640/8	42.405.756	49.281.175
Operation charges carried to assets as restructuring costs (-)		649
Non-recurring operating charges	6.12	66A	15.855.321	358.400.878
Operating profit (loss) (+)/(-)		9901	283.722.534	-76.787.886

	Notes	Codes	Period	Previous period
Financial income		75/76B	499.286.914	552.451.168
Recurring financial income		75	405.679.394	109.431.364
Income from financial fixed assets		750	391.200.056	92.032.018
Income from current assets		751	2.343.701	5.924.642
Other financial income	6.11	752/9	12.135.637	11.474.704
Non-recurring financial income	6.12	76B	93.607.520	443.019.804
Financial charges	6.11	65/66B	259.350.192	44.113.680
Recurring financial charges		65	204.399.880	31.040.615
Debt charges		650	46.321.304	47.732.102
Amounts written down on current assets except stocks, contracts in progress and
trade debtors (+)/(-)		651	138.096.296	-27.990.766
Other financial charges		652/9	19.982.280	11.299.279
Non recurring financial charges	6.12	66B	54.950.312	13.073.065
Profit (loss) for the period before taxes (+)/(-)		9903	523.659.256	431.549.602
Transfer from postponed taxes		780	233.695	276.508
Transfer to postponed taxes		680
Income taxes (+)/(-)	6.13	67/77	126.748.241	53.599.656
Income taxes		670/3	126.751.972	58.381.242
Adjustment of income taxes and write-back of tax provisions		77	3.731	4.781.586
Profit (loss) for the period (+)/(-)		9904	397.144.710	378.226.454
Transfer from untaxed reserves		789	701.086	658.273
Transfer to untaxed reserves		689		2.618
Profit (loss) for the period available for appropriation (+)/(-)		9905	397.845.796	378.882.109

APPROPRIATION ACCOUNT

	Codes	Period	Previous period
Profit (loss) to be appropriated (+)/(-)	9906	565.133.902	696.538.018
Gain (loss) to be appropriated (+)/(-)	(9905)	397.845.796	378.882.109
Profit (loss) to be carried forward (+)/(-)	14P	167.288.106	317.655.909
Transfers from capital and reserves	791/2	165.478.329	26.850.224
from capital and share premium account	791
from reserves	792	165.478.329	26.850.224
Transfers to capital and reserves	691/2	15.704.326	48.197.994
to capital and share premium account	691
to the legal reserve	6920
to other reserves	6921	15.704.326	48.197.994
Profit (loss) to be carried forward (+)/(-)	(14)	301.143.039	167.288.106
Owner's contribution in respect of losses	794
Profit to be distributed	694/7	413.764.866	507.902.142
Dividends	694	387.581.903	486.324.662
Director's or managers' entitlements	695
Workers	696	26.182.963	21.577.480
Other beneficiaries	697

	Codes	Period	Previous period
CONCESSIONS, PATENTS, LICENCES, KNOWHOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx	3.005.179.835
Movements during the period
Acquisitions, including produced fixed assets	8022	367.683.078
Sales and disposals	8032	126.538.770
Transfers from one heading to another (+)/(-)	8042	422.709
Acquisition value at the end of the period	8052	3.246.746.852
Depreciation and amounts written down at the end of the period	8122P	xxxxxxxxxxxxxxx	2.253.877.173
Movements during the period
Recorded	8072	351.993.343
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102	125.456.770
Transfers from one heading to another (+)/(-)	8112	-90.760
Depreciation and amounts written down at the end of the period	8122	2.480.322.986
NET BOOK VALUE AT THE END OF THE PERIOD	211	766.423.866

	Codes	Period	Previous period
GOODWILL

Acquisition value at the end of the period	8053P	xxxxxxxxxxxxxxx	5.027.843.478
Movements during the period
Acquisitions, including produced fixed assets	8023
Sales and disposals	8033
Transfers from one heading to another (+)/(-)	8043
Acquisition value at the end of the period	8053	5.027.843.478
Depreciation and amounts written down at the end of the period	8123P	xxxxxxxxxxxxxxx	3.390.364.853
Movements during the period
Recorded	8073	325.105.620
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	3.715.470.473
NET BOOK VALUE AT THE END OF THE PERIOD	212	1.312.373.005

STATEMENT OF TANGIBLE FIXED ASSETS

	Codes	Period	Previous period

LAND AND BUILDINGS
Acquisition value at the end of the period	8191P	xxxxxxxxxxxxxxx	375.094.015
Movements during the period
Acquisitions, including produced fixed assets	8161	1.481.693
Sales and disposals	8171	565.489
Transfers from one heading to another (+)/(-)	8181
Acquisition value at the end of the period	8191	376.010.219
Revaluation surpluses at the end of the period	8251P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8211
Acquisitions from third parties	8221
Cancelled	8231
Transfers from one heading to another (+)/(-)	8241
Revaluation surpluses at the end of the period	8251
Depreciation and amounts written down at the end of the period	8321P	xxxxxxxxxxxxxxx	264.080.792
Movements during the period
Recorded	8271	10.485.138
Written back	8281
Acquisitions from third parties	8291
Cancelled owing to sales and disposals	8301	565.490
Transfers from one heading to another (+)/(-)	8311
Depreciation and amounts written down at the end of the period	8321	274.000.440
NET BOOK VALUE AT THE END OF THE PERIOD	(22)	102.009.779

	Codes	Period	Previous period

PLANT, MACHINERY AND EQUIPMENT

Acquisition value at the end of the period	8192P	xxxxxxxxxxxxxxx	10.786.614.557
Movements during the period
Acquisitions, including produced fixed assets	8162	549.451.338
Sales and disposals	8172	350.631.033
Transfers from one heading to another (+)/(-)	8182	-390.244
Acquisition value at the end of the period	8192	10.985.044.618
Revaluation surpluses at the end of the period	8252P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8212
Acquisitions from third parties	8222
Cancelled	8232
Transfers from one heading to another (+)/(-)	8242
Revaluation surpluses at the end of the period	8252
Depreciation and amounts written down at the end of the period	8322P	xxxxxxxxxxxxxxx	8.213.106.402
Movements during the period
Recorded	8272	587.487.469
Written back	8282
Acquisitions from third parties	8292
Cancelled owing to sales and disposals	8302	350.631.090
Transfers from one heading to another (+)/(-)	8312	123.225
Depreciation and amounts written down at the end of the period	8322	8.450.086.006
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	2.534.958.612

	Codes	Period	Previous period

FURNITURE AND VEHICLES

Acquisition value at the end of the period	8193P	xxxxxxxxxxxxxxx	81.998.359
Movements during the period
Acquisitions, including produced fixed assets	8163	4.326.968
Sales and disposals	8173	13.411.011
Transfers from one heading to another (+)/(-)	8183
Acquisition value at the end of the period	8193	72.914.316
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	xxxxxxxxxxxxxxx	67.829.513
Movements during the period
Recorded	8273	6.960.894
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303	12.803.698
Transfers from one heading to another (+)/(-)	8313
Depreciation and amounts written down at the end of the period	8323	61.986.709
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	10.927.607

	Codes	Period	Previous period

LEASING AND SIMILAR RIGHTS

Acquisition value at the end of the period	8194P	xxxxxxxxxxxxxxx	651.449
Movements during the period
Acquisitions, including produced fixed assets	8164	295.331
Sales and disposals	8174	260.000
Transfers from one heading to another (+)/(-)	8184
Acquisition value at the end of the period	8194	686.780
Revaluation surpluses at the end of the period	8254P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8214
Acquisitions from third parties	8224
Cancelled	8234
Transfers from one heading to another (+)/(-)	8244
Revaluation surpluses at the end of the period	8254
Depreciation and amounts written down at the end of the period	8324P	xxxxxxxxxxxxxxx	452.572
Movements during the period
Recorded	8274	234.957
Written back	8284
Acquisitions from third parties	8294
Cancelled owing to sales and disposals	8304	260.000
Transfers from one heading to another (+)/(-)	8314
Depreciation and amounts written down at the end of the period	8324	427.529
NET BOOK VALUE AT THE END OF THE PERIOD	(25)	259.251
WHEREOF
Land and buildings	250
Plant, machinery and equipment	251
Furniture and vehicles	252	259.251

	Codes	Period	Previous period

OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	xxxxxxxxxxxxxxx	243.973.043
Movements during the period
Acquisitions, including produced fixed assets	8165	5.343.761
Sales and disposals	8175	11.930.931
Transfers from one heading to another (+)/(-)	8185	-32.465
Acquisition value at the end of the period	8195	237.353.408
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	xxxxxxxxxxxxxxx	226.635.283
Movements during the period
Recorded	8275	8.130.528
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305	11.930.875
Transfers from one heading to another (+)/(-)	8315	-32.465
Depreciation and amounts written down at the end of the period	8325	222.802.471
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	14.550.937

	Codes	Period

ASSETS UNDER CONSTRUCTION AND ADVANCED PAYMENTS
Acquisition value at the end of the period	8196P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8166	11.900.000
Sales and disposals	8176
Transfers from one heading to another (+)/(-)	8186
Acquisition value at the end of the period	8196	11.900.000
Revaluation surpluses at the end of the period	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
Movements during the period
Recorded	8276
Written back	8286
Acquisitions from third parties	8296
Cancelled owing to sales and disposals	8306
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)	11.900.000

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Previous period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P	xxxxxxxxxxxxxxx	1.332.172.654
Movements during the period
Acquisitions, including produced fixed assets	8361	146.774.462
Sales and disposals	8371	44.639.337
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	1.434.307.779
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	93.600.970
Movements during the period
Recorded	8471	54.503.658
Written back	8481
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
Transfers from one heading to another (+)/(-)	8511
Amounts written down at the end of the period	8521	148.104.628
Uncalled amounts at the end of the period	8551P	xxxxxxxxxxxxxxx	460.152
Movements during the period (+)/(-)	8541
Uncalled amounts at the end of the period	8551	460.152
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	1.285.742.999
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8581
Repayments	8591
Amounts written down	8601
Amounts written back	8611
Exchange differences (+)/(-)	8621
Other (+)/(-)	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

|--|

	Codes	Period	Previous period

ENTERPRISES LINKED BY A PARTICIPATING INTEREST - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8392P	xxxxxxxxxxxxxxx	10.527.823
Movements during the period
Acquisitions, including produced fixed assets	8362
Sales and disposals	8372	100
Transfers from one heading to another (+)/(-)	8382
Acquisition value at the end of the period	8392	10.527.723
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 at the end of the period	8522P	xxxxxxxxxxxxxxx	5.863.822
Movements during the period
Recorded	8472
Written back	8482
Acquisitions from third parties	8492
Cancelled owing to sales and disposals	8502
Transfers from one heading to another (+)/(-)	8512
Amounts written down at the end of the period	8522	5.863.822
Uncalled amounts at the end of the period	8552P	xxxxxxxxxxxxxxx	738.407
Movements during the period (+)/(-)	8542
Uncalled amounts at the end of the period	8552	738.407
NET BOOK VALUE AT THE END OF THE PERIOD	(282)	3.925.494
ENTERPRISES LINKED BY A PARTICIPATING INTEREST - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	283P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8582
Repayments	8592
Amounts written down	8602
Amounts written back	8612
Exchange differences (+)/(-)	8622
Other (+)/(-)	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	3.925.494

	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	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transfers from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	xxxxxxxxxxxxxxx
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	xxxxxxxxxxxxxxx	2.372.813
Movements during the period
Additions	8583	427.152
Repayments	8593	504.898
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
Other (+)/(-)	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	2.295.067
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8653

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

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

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		directly		subsi diaries	Primary	Mone	Capital and reserves	Net result
Belgian law, the COMPANY NUMBER	Nature	Number	%	%	financial statement	tary unit	(+) of (-) (in units)
Connectimmo S.A. Boulevard du Roi Albert II 27 1030 Brussel 3 Belgium 0477.931.965					31/12/2019	EUR	849.546.180	23.957.615
Proximus Opal S.A. Boulevard du Roi Albert II 27 1030 Brussel 3 Belgium 0861.585.672		4.865.300 100,00		0,00	31/12/2019	EUR	438.165.216	-59.902
Proximus Luxembourg SA rue du Puits Romain 18 8070 Bertrange Luxembourg			620 100,00	0,00	31/12/2019	EUR	414.489.878	15.499.699
Proximus ICT S.A. Boulevard du Roi Albert II 27 1030 Schaarbeek Belgium		245.340 100,00		0,00	31/12/2019	EUR	2.654.749	79.336
0826.942.915 Telindus-Isit B.V. Krommewetering 7 3543 AP Utrecht Netherlands		4.340 100,00		0,00	31/12/2018	EUR	32.255.000	3.182.000
Belgian Mobile ID S.A. Place Sainte Gudule 5 1000 Brussel 1 Belgium 0541.659.084		42.677 100,00		0,00	31/12/2019	EUR	2.352.156	-11.261.035
Proximus ICT-Expert Community C.V.B.A. Ferdinand Allenstraat 38 3290 Diest Belgium 0841.396.905		73.093 1	15,00 0,68	0,00 81,50	31/12/2019	EUR	344.014	96.881

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		directly		subsi diaries	Primary	Mone	Capital and reserves	Net result
Belgian law, the COMPANY NUMBER	Nature	Number	%	%	financial statement	tary unit	(+) of (-) (in units)
Proximus Media House S.A. Rue Carli 2 1140 Brussel 14 Belgium 0875.092.626					31/12/2019	EUR	54.296.031	3.798.992
Scarlet Belgium S.A. Rue Carli 2 1140 Brussel 14 Belgium 0447.976.484		20.000 100,00		0,00	31/12/2019	EUR	26.299.775	12.407.621
Synductis C.V.B.A. Brusselsesteenweg 199 9090 Melle Belgium		850.343 100,00		0,00	31/12/2019	EUR	19.500	0
0502.445.845 Experience@work C.V.B.A. Minderbroedergang 12 2800 Mechelen Belgium		310	16,67	0,00	31/12/2019	EUR	197.131	-6.532
0627.819.632 Tessares S.A. Rue Louis de Geer 6 1348 Louvain-la-Neuve Belgium		30	30,00	0,00	31/12/2019	EUR	435.337	-923.550
0600.810.278 BE-Mobile NV Kardinaal Mercierlaan 1 , box A 9090 Melle Belgium 0881.959.533		43.200	23,18	0,00	31/12/2019	EUR	30.472.451	-4.479.080
Co.Station Belgium NV Sinter-Goedelevoorplein 5 1000 Brussel 1 Belgium 0599.786.434		177.357	56,43	36,31	31/12/2019	EUR	832.208	203.492
		4.000	20,00	0,00

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		directly		subsi diaries	Primary	Mone	Capital and reserves	Net result
Belgian law, the COMPANY NUMBER	Nature	Number	%	%	financial statement	tary unit	(+) of (-) (in units)
Cascador BVBA Kardinaal Mercierlaan 1 , box A 9090 Melle Belgium 0648.964.048					31/12/2019	EUR	16.982.424	-5.698
			4.300 100,00	0,00
Nexus Midco BV Koning Albert II laan 27 1030 Brussel 3 Belgium 0760.489.106						EUR	0	0
MWingz BV Simon Bolivardlaan 34 1000 Brussel 1 Belgium 0738.987.372		499	49,90	0,00		EUR	0	0
		1.600.000	50,00	0,00

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

	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	8681
Shares - Uncalled amount	8682
Precious metals and works of art	8683
Fixed income securities	52
Fixed income securities issued by credit institutions	8684
Fixed term accounts with credit institutions	53	109.337.299	14.684.582
With residual term or notice of withdrawal
up to one month	8686	17.928.449	13.352.323
between one month and one year	8687	90.000.000
over one year	8688	1.408.850	1.332.259
Other investments not mentioned above	8689

DEFFERED CHARGES AND ACCRUED INCOME

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

Deferred cost - services 26.610.930

Period Deferred financial cost 1.201.945 Accrued Income 640.086 Deferred cost of sales 26.672.426

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	1.000.000.000
Issued capital at the end of the period	(100)	1.000.000.000
	Codes	Amounts	Number of shares
Changes during the period
Structure of the capital Different categories of shares
Bearer shares w/o specification of nominal value		420.528.512	142.149.207
Registered shares		579.471.488	195.875.928
Registered shares	8702	XXXXXXXXXXXXXX	195.875.928
Shares dematerialized	8703	XXXXXXXXXXXXXX	142.149.207

	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	45.366.771
Number of shares held	8722	15.335.109
Held by the subsidiaries
Amount 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	8751	200.000.000

	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 AT YEAR-END CLOSING DATE

as shown by the notifications received by the company in accordance with the Companies Code, Article 631 §2 and Article 632 §2; 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.

		Corporate rights held
NAME of the person who own the corporate rights of the company, indicating the ADDRESS (of the registered office, if it is a legal entity) and		Number of voting rights
the BUSINESS NUMBER, if it is a business incorporated under Belgian law.	Nature	Attached to shares	Not associated with shares	%
Belgische Staat FOD/SPF Etat belge Mobiliteit en Vervoer/ M
Aarlenstraat 10
1040 Brussel 4
Belgium

	Registered	180.887.569	0	53,51
Proximus NV/SA van publiek recht/ de droit public
Koning Albert-II laan 27
1030 Brussel 3
Belgium
0202.239.951
	Registered	14.775.000	0	4,37
Proximus NV/SA van publiek recht/ de droit public
Koning Albert-II laan 27
1030 Brussel 3
Belgium
0202.239.951
	Dematerialized	560.109	0	0,17
BlackRock Inc.
East 52nd Street 55
NY 1005 New York
United States of America
. .
	Dematerialized	17.031.320	0	5,04

Nr.	202.239.951		C 6.7.2
-----	-------------	--	---------

Additional information

The Company may acquire its own shares and transfer the shares thus acquired in accordance with the provisions of the Belgian Companies Code.

The Board of Directors is by article 13 of the bylaws empowered to acquire, within the legal limits, the maximum number of own shares permitted by law. The price paid for these shares must not be more than 5% above the highest closing price in the 30-day trading period preceding the transaction, and no more than 10% below the lowest closing price in that same 30-day trading period. This mandate is granted for a period of five years as of 20 April 2016.

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

	Period
ANALYSIS OF THE HEADING 164/5 OF LIABILITIES IF THE AMOUNT IS SIGNIFICANT
Social benefits for personnel and retirees	408.171.311
Provision for Statutory Employees made available	14.696.726
Early Leave Plans	193.515.568
Pending litigations	12.394.395
Annuity due to work accidents	27.590.478
Other	14.006.444

	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	78.120.093
Suppliers	8871	78.120.093
Bills of exchange payable	8881
Advance payments received on contracts in progress	8891
Other amounts payable	8901	4.800.000
Total amounts payable after more than one year, not more than one year	(42)	82.920.093
Amounts payable after more than one year, between one and five years
Financial debts	8802	1.696.462.814
Subordinated loans	8812
Unsubordinated debentures	8822	1.696.462.814
Leasing and other similar obligations	8832
Credit institutions	8842
Other loans	8852
Trade debts	8862	37.016.400
Suppliers	8872	37.016.400
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892
Other amounts payable	8902	1.670.368
Total amounts payable after more than one year, between one and five years	8912	1.735.149.582
Amounts payable after more than one year, over five years
Financial debts	8803	810.721.991
Subordinated loans	8813
Unsubordinated debentures	8823	410.721.991
Leasing and other similar obligations	8833
Credit institutions	8843	400.000.000
Other loans	8853
Trade debts	8863	41.473.973
Suppliers	8873	41.473.973
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	852.195.964

	Codes	Period
AMOUNTS PAYABLE GUARANTEED (headings 17 and 42/48 of liabilities)

Amounts payable guaranteed by Belgian public authorities
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and other similar obligations	8951
Credit institutions	8961
Other loans	8971
Trade debts	8981
Suppliers	8991
Bills of exchange payable	9001
Advance payments received on contracts in progress	9011
Remuneration and social security	9021
Other amounts payable	9051
Total amounts payable guaranteed by Belgian public authorities	9061

Amounts payable guaranteed by real guarantees given or irrevocably promised by the enterprise on its own assets
Financial debts	8922
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and other similar obligations	8952
Credit institutions	8962
Other loans	8972
Trade debts	8982
Suppliers	8992
Bills of exchange payable	9002
Advance payments received on contracts in progress	9012
Taxes, remuneration and social security	9022
Taxes	9032
Remuneration and social security	9042
Other amounts payable	9052
Total amounts payable guaranteed by real guarantees given or irrevocably promised by the enterprise on its own assets	9062

	Codes	Period
AMOUNTS PAYABLE FOR TAXES, REMUNERATION AND SOCIAL SECURITY
(headings 450/3 and 178/9 of the liabilities) Taxes
Expired taxes payable	9072
Non expired taxes payable	9073	57.820.039
Estimated taxes payable	450	31.148.189
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	157.725.646

	Period
ACCRUED CHARGES AND DEFERRED INCOME
Allocation of heading 492/3 of liabilities if the amount is significant
Not yet expired interests on loans	26.089.218
Billed turnover for subsequent periods	56.937.495
Options to issue	1.408.840

OPERATING RESULTS

	Codes	Period	Previous period
OPERATING INCOME
Net turnover
Broken down by categories of activity
Fixed products		2.310.595.106	2.304.172.956
Mobile products		1.459.540.237	1.570.469.395
Call Connect		15.950.450	12.057.442
Allocation into geographical markets
Other operating income
Operating subsidies and compensatory amounts received from public authorities	740	237.660	524.717
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	9.573	11.620
Average number of employees calculated in full-time equivalents	9087	9.651,8	11.298,2
Number of actual worked hours	9088	14.306.997	16.580.124
Personnel costs
Remuneration and direct social benefits	620	560.394.839	653.761.770
Employers' social security contributions	621	140.761.491	157.903.452
Employers' premiums for extra statutory insurances	622	52.622.436	49.819.101
Other personnel costs	623	33.965.316	33.131.857
Old-age and widows' pensions	624	130.318	61.435

O n
--------

	Codes	Period	Previous period
Provisions for pensions
Additions (uses and write-back) (+)/(-)	635
Amounts written off
Stocks and contracts in progress
Recorded	9110	4.830.456	4.553.841
Written back	9111	4.453.303	4.498.224
Trade debtors
Recorded	9112	12.680.190	6.047.925
Written back	9113	15.539.425	15.229.309
Provisions for risks and charges
Additions	9115	14.511.101	6.709.137
Uses and write-back	9116	6.572.820	3.664.233
Other operating charges
Taxes related to operation	640	14.761.037	16.979.716
Other charges	641/8	27.644.719	32.301.459
Hired temporary staff and persons placed at the enterprise's disposal
Total number at the closing date	9096	6	13
Average number calculated as full-time equivalents	9097	9,0	14,0
Number of actual worked hours	9098	13.912	20.529
Charges to the enterprise	617	370.858	525.453

0202.239.951
			C 6.11

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
Exchange gains incl. Report/Deport		10.114.781	7.955.765
Realized capital gains on shares		1.641.883	2.493.572
Other		378.973	1.025.367

RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501
Capitalized Interests	6503
Amounts written off current assets
Recorded	6510	147.902.537	25.941.006
Written back	6511	9.806.241	53.931.772
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 Incl. Report/Deport		11.421.652	7.861.642
Less value on realisation of own shares		3.597.130	651.757
Miscellaneous bankcosts		1.237.842	1.046.885
Other		2.938.065	1.734.793
Commissions-use of payment means		787.591	4.202

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

	Codes	Period	Previous period

NON-RECURRING INCOME	76	94.133.055	444.310.948
Non-recurring operating income	(76A)	525.535	1.291.144
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
Capital gains on disposal of intangible and tangible fixed asset	7630	525.535	713.957
Other non-recurring operating income	764/8		577.187
Non-recurring financial income	(76B)	93.607.520	443.019.804
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	93.607.520	443.019.804
Other non-recurring financial income	769

NON-RECURRING EXPENSES	66	70.805.633	371.473.943
Non-recurring operating charges	(66A)	15.855.321	358.400.878
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660	39.437.468	46.311.979
Provisions for extraordinary operating liabilities and charges: Appropriations (uses) (+)/(-)	6620	-246.932.807	245.813.053
Capital losses on disposal of intangible and tangible fixed assets	6630		40.000
Other non-recurring operating charges	664/7	223.350.660	66.235.846
Non-recurring operating charges carried to assets as restructuring costs (-)	6690
Non-recurring financial charges	(66B)	54.950.312	13.073.065
Amounts written off financial fixed assets	661	54.503.658	13.061.450
Provisions for extraordinary financial liabilities and charges - Appropriations (uses) (+)/(-)	6621
Capital losses on disposal of financial fixed assets	6631	446.654	11.615
Other non-recurring financial charges	668
Non-recurring financial charges carried to assets as restructuring costs (-)	6691

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	126.751.971
Income taxes paid and withholding taxes due or paid	9135	126.066.000
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136
Estimated additional taxes	9137	685.971
Income taxes on the result of prior periods	9138
Additional income taxes due or paid	9139
Additional income taxes estimated or provided for	9140

In so far as taxes of the period are materially affected by differences between the profit before taxes as stated in annual accounts and the estimated taxable profit
Profit sharing employees		-26.182.963
Change in taxable reserves		315.954.044
Disallowed expenses		233.126.022
Tax deductions/exemptions		-547.850.597

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

Capitals gain on shares 93.607.520 Write down on own shares 138.096.296

Period Taxable provisions movement 9.679.887 Impairments on participations 54.503.658

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141	81.541.023
Accumulated tax losses deductible from future taxable profits	9142
Other deferred taxes representing assets
Temporay taxed provisions		63.825.093
Excess depreciations		11.993.085
Other		5.722.846
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

INCOME TAXES AND OTHER TAXES

	Codes	Period	Previous period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	277.463.365	287.085.887
By the enterprise	9146	712.163.597	768.566.987
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	199.457.525	181.658.889
For withholding taxes on investment income	9148	57.786.058	57.776.641

Codes Period

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	69.536.229
Of which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the enterprise	9153	69.536.229
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

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 Intangible assets 207.703.413 Tangible assets 698.225.272 Financial fixed assets 130.000.000

SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215	46.471.957
Currencies sold (to be delivered)	9216	46.471.957

COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS

SUPPLEMENT RETIREMENTS OR SURVIVORS PENSION PLANS IN FAVOUR OF THE PERSONNEL OR THE EXECUTIVES OF THE ENTERPRISE

Brief description

Within the scope of the policy for the management of the staff members, Proximus has provided a plan under the form of a "defined benefit plan" for complementary pensions applicable to Proximus PLC under Belgian Public Law and some subsidiaries. The employees of Proximus PLC under Belgian Public Law are part of this complementary pension plan.

The rights of the participants of this plan are recognised as from January 1st, 1997 at the earliest. For the execution of these commitments and for the management of the assets that are gathered for this, a Pension Fund has been founded and recognised by R.D. of December 8th, 1998. In 2015 it took the name "Proximus Pensioenfonds O.F.P."/ "Fonds de Pension Proximus O.F.P" via the amendment of its articles of incorporation published in the annexes to the Belgian Official Gazette on 09/06/2015.

In 2006 the plan was amended with effect on January 1st, 2005, in 2013 with effect on 01.04.2013 and in 2016 with effect on 01.09.2016. On the basis of an actuarial calculation according to the PUC- method (Project Unit Credit), based on a nominal discount rate of 0,80 % and the expected evolution of the salaries, the total amount of DBO (Defined Benefit Obligation) obligations to the staff members of Proximus PLC under Belgian Public Law amounts to 771.450 KEUR on December 31st, 2020.

The amount of obligations of this fund (Proximus S.A. de droit public/N.V. van publiek recht including some subsidiaries) amounts to 837.244KEUR on December 31st, 2020 (the obligation contains the taxes on the amount of the possible underfunding). The fund is funded on the basis of the annual periodic cost, also calculated according to the PUC-method. On December 31st, 2020 the total investments portfolio of this fund amounts to 770.424KEUR.

Following the advice of the CBN 2018/15 issued 20 June 2018, the valuation of the pension liabilities under Belgian GAAP needs to be based on current salaries, without considering future salary developments. In addition, as required by Belgian law, the plan assets in the pension fund more than fully cover the prudent calculation of the vested benefits per 31 December 2020. On this basis, no provision for underfunding needs to be recognized in Belgian statutory annual accounts.

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

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

	Period
NATURE AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE NOT INCLUDED IN THE BALANCE SHEET OR THE INCOME STATEMENT On 09.02.2021, Proximus announced an agreement had been reached with MTN and Swisscom, the two minority shareholders of BICS, on the acquisition by Proximus of their respective stakes of 20.0% and 22.4% in BICS for a total cash consideration	217.000.000
	Period
COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR SALE OR PURCHASE
The put option refers to the right granted by Proximus to the non-controlling interests of one of its subsidiary to sell their shares	1.014.427

	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

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

217.000.000
Period
1.014.427
Period

Period

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET:

Commitments:

Currency and Interest rate swaps (swap of fixed into variable rate)	10,882,069
Rent commitments buildings sites technical or network equipment vehicles	465,190,637 82,996,359 11,784,640 35,388,152
Delivery of shares due to granted share options Distribution of dividends due to granted share options
Received guarantees:
to cover Proximus PLC under Belgian Public Law from banks (bank guarantees)	29,542,720
to cover commitments from third parties towards Proximus PLC under Belgian Public Law from banks (bank guarantees) guarantees by third parties as deposit at the "Caisse des Dépôts et Consignation"	11,556,233 5,000,000 1,502,298
Rights:
Credit line long term Credit line short term Credit line intercompany Right of emission of commercial papers of which emitted 150,000,000	750,000,000 25,500,000 46,950,000 1,000,000,000
Right of emission of Euro Medium Term Notes	3,500,000,000

of which emitted 2,100,000,000 Currency and Interest rate swaps (swap of fixed into variable rate) 10,882,069

In the context of various acquisitions, there are contingent commitments (earn outs & put options) for a total amount of 1 million euros per end of 2020. These obligations are payable in 2022 to the extent that the agreed conditions are met.

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

Proximus gives support letters to some of its affiliates. These letters provide assurance that the affiliates will be able to fulfil their financial obligations.

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

Universal Services

In accordance with the law of 13 June 2005 on electronic communication, Proximus is entitled to claim compensation for the social tariffs that it has offered since 1 July 2005 as part of its universal service provision. For every operator offering social tariffs, the BIPT is required to assess whether or not there is a net cost and an unreasonable burden. In May 2014, the BIPT, together with an external consultant, started to analyze the net costs Proximus bore in providing the social discounts, which were offered over the period 2005-2012, the aim being to assess the possibility of there being an unreasonable burden on Proximus, and hence the possibility of a contribution being due by the operators liable to pay a contribution. On 1 April 2015, however, Proximus withdrew its request for compensation, referring to the legal opinion of 29 January 2015 of the Ad-vocate General of the European Court of Justice, following the prejudicial question that the Belgian Constitu-tional Court submitted regarding the law of 10 June 2012 (case C-1/14), more precisely regarding the possi-bility of classifying mobile social tariffs as an element of the universal service. Proximus reserved its right to introduce a new request for compensation once the implications of the Court's decision would be clear. In a judgment of 11 July 2015, the European Court of Justice stated that mobile social tariffs cannot be financed by means of a compensation mechanism to which specific undertakings have to contribute.

In its judgment of 3 February 2016 (no. 15/2016), the Constitutional Court, taking into account the Judgment of the Court of Justice, indicated that since the Member States are free to consider mobile communication services (voice and internet) as additional mandatory services, the Legislator could impose the obligation on mobile operators to provide mobile tariff reductions to social subscribers. However, it specified that a financ-ing mechanism for such services involving specific undertakings cannot be imposed. It is up to the Legisla-tor to decide whether, for the provision of such services, compensation should be calculated by means of another mechanism which does not involve specific undertakings.

In its communication of 27 December 2017 regarding the monitoring van the universal service, the BIPT states the following : '(PXS translation)'Following this, the Constitutional Court has decided on 3 february 2016 that Belgium cannot oblige the telecomoperators to grant social tariffs for mobile telephony and mobile internet. However, the government could decide to make the services accessibles to the public as 'additional obligatory services', however without a possibility to have a financing from the sectorial compensation fund.' Given this reading of the BIPT, it has been decided not to grant any longer social tariffs on standalone mo-bile internet formulas. Social reductions on bundles for mobile internet are being maintained.

In 2015, the Minister competent for electronic communications announced a reform of the legal system of social tariffs, prioritizing a simplification of the current system as well as an evolution towards a system based on voluntary engagement.

So far the Minister has not yet transformed his intention into a concrete draft law. The claim for compensation for the social tariffs has not been renewed. The transposition of the European Electronic Communication Code into Belgian law might possibly bring changes to the definition of the social tariffs. The recent federal Government Agreement 2020 announces an innovation of the system of social tarifs

Tax on pylons

New evolutions in jurisprudence led the Group to reassess the liabilities related to Taxes on Pylons in 2018. This resulted in a material increase of provisions in 2018. In 2019, there are no material changes in the jurisprudence which should lead to a review of the applied methodology with respect to the accruals. In 2020 there were both positive and negative evolutions in case law which have resulted in a review of the provisions with a limited net impact. The position as recognized in the Financial Statements reflects management's best estimate of the probable final outcome.

Compensation mechanism statutory retirees

On 31 December 2003, Proximus transferred to the Belgian State its legal pension obligation for its statutory employees and their survivors, in exchange of a payment of EUR 5 Billion to the Belgian State. The transfer of the statutory pension liability to the Belgian State in 2003 was coupled with an increased employer social security contribution for civil servants as from 2004 and included an annual compensation mechanism to off-set certain future increases or decreases in the Belgian State's obligations as a result of actions taken by Proximus. Following a change in law (Program Law of 25 December 2017), as from 2018, the obligation to off-set stopped for the Belgian State.

V.A.T. unit

The company is member of a VAT group, called 'Proximus VAT Group', established on October 1, 2010 un-der the VAT number BE0829.001.392. All members of the VAT group are jointly liable towards the State for all VAT debts, interest, penalties and costs which are due under the acts of the VAT group members. In 2020, the members of Proximus VAT Group were Proximus S.A. under public law, Proximus ICT S.A., ConnectImmo S.A., Be-Mobile S.A., Proximus ICT Expert Com-munity B.V.B.A., ClearMedia S.A., Scarlet Belgium; Davinsi Labs; Unbrace, Proximus Luxemburg Technology Services (as of 4/2020), Codit, Codit Holding and Codit Managed Services.

Claims and legal proceedings

Our policies and procedures are designed to comply with all applicable laws, accounting and reporting requirements, regulations and tax requirements, including those imposed by foreign countries, the EU, as well as applicable labour laws.

The complexity of the legal and regulatory environment in which we operate and the related cost of compliance are both increasing due to additional requirements. Furthermore, foreign and supranational laws occasionally conflict with domestic laws. Failure to comply with the various laws and regulations as well as changes in laws and regulations or the manner in which they are interpreted or applied, may result in damage to our reputation, li-ability, fines and penalties, increased tax burden or cost of regulatory compliance and impacts of our financial statements.

The telecommunications industry and related service businesses are characterised by the existence of a large number of patents and trademarks. Litigation based on allegations of patent infringement or other violations of intellectual property rights is common. As the number of entrants into the market grows and the overlap of product functions increases, the possibility of an intellectual property infringement claim against Proximus increases.

Proximus is currently involved in various claims and legal proceedings, including those for which a provision has been made 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 tax administrations.

1. Broadband/Broadcast Access Related Cases

Between 12 and 14 October 2010, the Belgian Directorate General of Competition started a dawn raid in Proximus's offices in Brussels. This investigation concerns allegations by Mobistar and KPN regarding the wholesale DSL services of which Proximus would have engaged in obstruction practices. This measure is without prejudice to the final outcome of the full investigation. 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, Proximus will be in a position to make its views heard. (This procedure may last several years.)

During the investigation of October 2010, a large numbers of documents were seized (electronic data such as a full copy of mail boxes and archives and other files). Proximus and the prosecutor of the Competition authority exchanged extensive views on the way to handle the seized data. Proximus wanted to be sure that the lawyers "legal privilege" (LPP) and the confidentiality of in house counsel advices are guaranteed. Moreover, Proximus sought to prevent the Competition authority from having access to (sensitive) data that were out of scope. Not being able to convince the prosecutor of its position, Proximus started two proceedings, one before the Brussels Court of Appeal and one before the President of the Competition Council, in order to have the communication to the investigation teams of LPP data and data out of scope suspended. On 5 March 2013, the Court of Appeal issued a positive judgment in this appeal procedure by which it ruled that investigators had no authority to seize documents containing advices of company lawyers and documents that are out of scope and that these documents should be removed/destroyed. To be noted that this is a decision on the procedure in itself and not on the merit of the case.

On 14 October 2013, the Competition authority launched a request for cassation against this decision. Proximus has joined this cassation procedure. Eventually, on 22 January 2015, the Supreme Court decided to confirm the Judgment of 5 March 2013, except for a restriction with regard to older documents, which was annulled. It is up to the Court of Appeal now to take a new decision on this restriction. In March 2014, KPN has withdrawn its complaint; Mobistar remaining the sole complainant.

2. Mobile On-net cases related

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 be-tween 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 Proximus (former Belgacom Mobile) for abuse of a dominant position during the years 2004 and 2005. Proximus was obliged to pay the fine prior to 30 June 2009 and recognized this charge (net of existing provisions) as a non-recurring expense in the income statement of the second quarter 2009.

Proximus 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: amongst other the fact that the market impact was not examined. Also KPN Group Belgium and Mobistar filed an appeal against said ruling.

Following the settlement agreement dated 21 October 2015, the appeals of Base and Mobistar against the decision of the Belgian Competition Authority are withdrawn. Proximus will continue its appeal procedure against this decision.

In its interim judgment of 7th of October 2020, the Brussels Court of Appeal partially annulled the decision of 26th of May 2009 of the Competition Council, based on the reasoning that (i) the Belgian Competition Authority could not have established the existence of an abuse of a dominant position for 2004 without the document seized during the illegal dawn raid, while (ii) the documents seized during the illegal dawn raid were not indispensable for the establishment of the abuse of a dominant position for 2005. Consequently, Court decided that the procedure should only be continued for the latter period (both for other procedural issues and on merits). Proximus will launch a "pourvoi en cassation" against this judgment in so far, according to Proximus, the decision should not have been annulled partially (2004), but totally (2004 and 2005), exactly because of the illegality of the dawn raid.

In October 2009, seven parties (Telenet, KPN Group Belgium (former Base), KPN Belgium Business (Tele 2 Belgium), KPN BV (Sympac), BT, Verizon, Colt Telecom) filed an action against Belgacom mobile (currently Proximus and hereinafter indicated as Proximus) 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 Proximus's alleged dominant position in the Bel-gian 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. These cases have been postponed for an undefined period.

Following the settlements with Telenet, KPN, BASE Company and Orange, the only remaining claimants are BT, Verizon and Colt Telecom.

On 22nd of November 2019, Orange Belgium and Proximus concluded a mobile radio access network (RAN) sharing agreement. Telenet, which contests the agreement, lodged a complaint with the Belgian Competition Authority and made a request for preliminary measures. On 8th of January 2020, the Belgian Competition Authority, whilst acknowledging the benefits of the agreement, decided to suspend the agreement during 2 months, giving Orange Belgium and Proximus the time to have discussions with the telecommunications regulator. In the meantime, several preparatory actions can still be taken. In the absence of new initiative from the prosecutors of the Belgian Competition Authority, the suspension took an end after the 2 months period allowing Proximus to fully implement the radio access network (RAN) sharing agreement. In the meantime, the prosecutors of the Belgian Competition Authority continue to investigate the agreement. A decision on the merits, if any, may take several years.

Nr. 0202.239.951		C 6.14
---------------------	--	--------

Gial case

On 19 June 2019, Proximus was indicted by a Brussels investigating judge following a complaint on the grounds of corruption and offences relating to industry, commerce and public auctions in the so-called "GIAL" case. Proximus formally contests having committed any offence in this case. Due to the secrecy of the investigation, it is obvious that the details of this case cannot be set out in this report.

Nevertheless, Proximus would like to mention the existence of this case to ensure transparency.

For information purposes: if, contrary to its analysis of its role in this case, Proximus were to be found guilty of the acts which it is accused of and in view of the indictment by the investigating judge, the maximum fine that could be imposed to Proximus in the context of this case would be EUR 800,000. At the present time and on the basis of the information available to Proximus in connection with this case, Proximus has not accrued any provision for the payment of this case.

Finally, insofar as necessary, Proximus recalls that the indictment does not in any way imply that there are any charges or evidence of guilt against it and insists that it is presumed innocent and has solid elements for a favourable outcome to this case.

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

	Codes	Period	Previous period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	1.285.742.999	1.238.111.531
Participating interests	(280)	1.285.742.999	1.238.111.531
Subordinated amounts receivable	9271
Other amounts receivable	9281
Amounts receivable	9291	125.358.067	126.505.004
Over one year	9301	89.000.000	89.000.000
Within one year	9311	36.358.067	37.505.004
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	899.953.588	883.098.434
Over one year	9361
Within one year	9371	899.953.588	883.098.434
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of affiliated enterprises	9381	69.536.229	91.062.846
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	391.200.057	92.032.018
Income from current assets	9431	1.670.836	3.994.784
Other financial income	9441	4.265.804	2.232.227
Debt charges	9461	1.065.281	2.646.847
Other financial charges	9471	1.848.394	2.557.517
Disposal of fixed assets
Capital gains obtained	9481
Capital losses suffered	9491

Null

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

	Codes	Period	Previous period
ASSOCIATED ENTERPRISES
Financial fixed assets	9253	3.925.494	3.925.594
Participating interests	9263	3.925.494	3.925.594
Subordinated amounts receivable	9273
Other amounts receivable	9283
Amounts receivable	9293	52.181	99.273
Over one year	9303
Within one year	9313	52.181	99.273
Amounts payable	9353	14.107	52.635
Over one year	9363
Within one year	9373	14.107	52.635
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	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

Additional information

Proximus PLC under Belgian public law 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 favourable 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 the net income of Proximus PLC under Belgian public law.

Proximus 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 section "corporate governance statement" of the annual report and the remuneration report in which the remuneration of the members of the Board of Directors and the members of the Executive Committee are detailed.

FINANCIAL RELATIONSHIPS WITH

	Codes	Period
DIRECTORS, MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS
Amounts receivable from these persons	9500
Conditions on amounts receivable, rate, duration, possibly reimbursed amounts, canceled amounts or renounced amounts
Guarantees provided in their favour	9501
Other significant commitments undertaken in their favour	9502
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	2.349.907
To former directors and former managers	9504

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO
Auditor's fees	9505	336.694
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061	52.918
Tax consultancy	95062
Other missions external to the audit	95063	95.023
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082
Other missions external to the audit	95083	52.832

Mentions related to article 134 from the Companies Code

DERIVATIVES NOT MEASURED AT FAIR VALUE

FOR EACH CATEGORY OF FINANCIAL DERIVATIVES NOT MEASURED AT FAIR VALUE

			Period		Previous period
Category of financial derivatives	Speculation/ Hedge risk Volume Book value Fair value hedging				Book Value			Fair value
1 IRCS	Foreign currency and interests	Hedging	10.882.069	0	4.290.985	0	5.401.944
Forward contracts in foreign currencies	Foreign currency	Hedging	29.298.358	0	-373.830	0	-375.558

FINANCIAL FIXED ASSETS CARRIED AT AN AMOUNT IN EXCESS OF FAIR
VALUE

Amount of individual assets or appropriate groupings of those assets

Reasons for not reducing the book value

Informations that suggest than the book value will be recovered

Book value	Fair value

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 Company Law*

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

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

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

^* Delete where no appropriate.

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

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

	Codes	Period
Mentions related to article 134, §4 and §5 from the Companies Code
Auditor's fees according to a mandate at the group level led by the company publishing the information	9507	984.650
Fees for exceptional services or special missions executed in these group by the auditor
Other attestation missions	95071	74.869
Tax consultancy	95072
Other missions external to the audit	95073	105.023
Fees to people auditors are linked to according to the mandate at the group level led by the company publishing the information	9509	613.335
Fees for exceptional services or special missions executed in the group by people they are linked to
Other attestation missions	95091	1.489
Tax consultancy	95092
Other missions external to the audit	95093	58.572

Mentions related to article 134 from the Companies Code

Nr.	202.239.951		C 6.19
-----	-------------	--	--------

VALUATION RULES

The valuation rules comply with the terms of Chapter II of the R.D. of Jan 30, 2001 modified by R.D. Dec 18, 2015.

These rules were approved and modified by the Board of Directors 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, Feb 24, 2011, March 1, 2012, February 27, 2014 and February 28th, 2019.

BALANCE SHEET

FORMATION EXPENSES

The debt issuance costs are charged to income statement in the year in which they are incurred. Material formation expenses are capitalised and depreciated over a 5 year period. The acquisitions of the year are depreciated pro rata temporis.

Restructuring costs are expensed as incurred.

INTANGIBLE ASSETS

The intangible assets are measured at cost; this is the purchase price, production cost or the contribution value. General expenses are not included in the cost.

Intangible assets with an indefinite useful life are not amortized. An impairment loss on these assets is recorded in case of a permanent loss or durable decrease of value.

Intangible assets with a finite useful life are amortized on a straight line basis (except for broadcasting rights acquired in 2018 and 2019) at a fixed rate using the following plan, established on the basis of economic criteria:

Goodwill: over the estimated useful life, if the useful life cannot be estimated reliably: 5 to 10 years
Software: 5 years or the license period in case the latter one is shorter than 5 year
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 acquisitions of the year are amortized pro rata temporis.

Broadcasting rights acquired in 2018 and 2019 are amortized using the double of the linear depreciation rate with a maximum of 40% of the initial purchase value.

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

The goodwill resulting from the merger of Wireless Technology in 2016 is depreciated over 10 years. This depreciation period reflects the useful life over which the economic benefits from the assets in the business combination are expected to be consumed by Proximus.

The goodwill resulting from the merger of Proximus Group Services NV in 2019 has been fully recognized in the income statement.

TANGIBLE ASSETS

Tangible assets are valued at cost; this is the purchase price, production cost or the contribution value. General expenses are not included.

202.239.951
-------------

Tangible assets with an indefinite useful life are not depreciated. An impairment loss on these assets is recorded in case of a permanent loss or durable decrease of value.

Tangible assets with a finite useful life are depreciated using the straight line method (except for tangible assets acquired in 2018 and 2019). The tangible assets acquired in 2018 and 2019 are depreciated using the annual declining method meaning the double of the linear rate with a maximum of 40% of the initial purchase value.

The determination of the depreciable amount takes into account a residual value if this can be determined accurately, is material and its realization is sufficiently certain.

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
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	3 – 10

Fixed assets held under leasing or other similar rights are depreciated based on the useful life of the fixed asset as defined in the contract.

Assets under construction and advance payments are depreciated over the life term 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.

The tangible assets as well as the assets related to the broadcasting rights acquired in 2018 and 2019 are depreciated using the annual declining method meaning the double of the linear rate with a maximum of 40%. The acquisitions of 2020 are depreciated using the straight-line method.

FINANCIAL ASSETS

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

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

Receivables are recognized at their nominal value. An allowance 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 currencies are converted to EUR at the rate in force at the date of delivery and are translated at the year-end rate.

A bad debt allowance 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 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 realisable value 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).

The projects of the ICT activity (contracts in progress) are taken into result based on stage of completion.

AMOUNTS RECEIVABLE WITHIN ONE YEAR

These amounts appear on the balance sheet at nominal value.

A bad debt allowance 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 delivery. At balance date they are translated at closing rate.

CURRENT INVESTMENTS

Current 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.

For the determination of the realisable value of own shares the market value is taken into account on the one hand and the strike price of granted share options for which these shares are held on the other hand.

Current 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. Provisions reflect the best estimate of probable costs or, when it relates to an obligation, the best estimate of the amount necessary to settle this at year-end closing.

In the framework of the departure plans, provisions are made after approval by the Joint Committee. These provisions are determined as the present value of the benefits granted during the period of inactivity, both for current and future beneficiaries.

In the framework of post-employment benefits, a provision is made for the current and future beneficiaries of these benefits. For the current beneficiaries this provision is determined as the present value of the obligation resulting from the granted benefits. For future beneficiaries, this provision is built up gradually based on the number of years of service. As a consequence, at the pension date, the provision corresponds also to the present value of the obligation for the granted benefits.

The provision for damages concerning vehicles is built by the company as "own insurer" and is valued through an individualisation of all damages that occurred before 2014 and for which the costs will reasonably be bared by the company in future years.

Deferred taxes are booked in compliance with article 76 of the R.D. of January 30, 2001.

AMOUNTS PAYABLE WITHIN ONE YEAR AND AFTER MORE THAN ONE YEAR

Amounts payables are recognized 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;
trade debts at the exchange rate on the date of entry of the reception of the goods and services.

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

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.

TURNOVER

Revenue is recorded in the period to which they refer, regardless of their payment. The turnover takes commercial and volume discounts into account.

Specific revenue streams and related recognition criteria are as follows:

revenue from fixed line, mobile and carrier traffic is recognized on usage.
revenue from connection fees and installation fees is recognized in income at the time of connection or installation.
revenue from sales of communication equipment is recognized upon delivery to the third party distributors or upon delivery by the own Proximus shops to the end-customer.

					C 6.19
--	--	--	--	--	--------

revenue relating to the monthly rent, the monthly subscription fee and access fees in the framework of fixed and mobile telephony, internet and digital television are recognized in the period in which the services are provided.
prepaid revenue such as revenue from pre-paid fixed and mobile phone cards is deferred and recognized based on usage of the cards.
maintenance fees are recognized as revenue over the maintenance period on a pro-rata basis.
revenue from the ICT activity linked to projects is recognized in the result in function of the realization percentage.

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

In 2020, the profit of the financial year available for appropriation amounts to 397.845.796 EUR.

5 % of this net profit is to be 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 meanwhile, there is no appropriation to the legal reserve.
The accumulated profit from previous years amounts to 167.288.106 EUR.

The profit to be appropriated then amounts to 565.133.902 EUR.

149.774.003 EUR net transfers from the reserves, to be further detailed as follows:
150.253.393 EUR transferred from the reserves available for distribution;
15.224.935,47 EUR transferred from the reserves mainly in the framework of exercised stock options;
14.871.883,40 EUR transferred to the available reserves;
832.442 EUR transferred to the reserves unavailable for distribution for own shares.
387.581.903 EUR are dividends to be distributed, as decided by the General Assembly. This amount can be further detailed as follows:
161.408.415 EUR has been paid on December 11 th, 2020 as interim dividend;
290.470 EUR have been paid mainly in the framework of stock options exercised in 2020;
225.883.018 EUR shall be distributed in April 2021;
26.182.963 EUR to be distributed to the personnel, pursuant to article 43 of the by-laws, representing 5 % of the result before taxes.
The resulting profit to be carried forward amounts to 301.143.039 EUR.

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 article 4 in the management contract.

1.	Operating income	0.00	EUR
2.	Operating charges	156.038,43	EUR
	Operating result (loss)	(156.038,43)	EUR

The calculations were made based on a cost model developed by Proximus 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.

INVESTMENT GRANTS

Proximus has not received investment grants from public governments or institutions in 2020.

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	8.757,4	6.286,4	2.471,0
Part-time	1002	1.180,9	490,7	690,2
Total in full-time equivalents	1003	9.651,8	6.664,5	2.987,3
Number of hours actually worked
Full-time	1011	13.095.300	9.567.359	3.527.941
Part-time	1012	1.211.697	514.839	696.858
Total	1013	14.306.997	10.082.198	4.224.799
Personnel costs
Full-time	1021	744.971.739	544.107.440	200.864.298
Part-time	1022	68.955.306	29.279.515	39.675.791
Total	1023	813.927.044	573.386.955	240.540.089
Advantages in addition to wages	1033	8.922.190	6.285.413	2.636.777

During the preceding period Codes		P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003	11.298,2	7.726,2	3.572,0
Number of hours actually worked	1013	16.580.124	11.678.841	4.901.283
Personnel costs	1023	916.193.660	652.006.250	264.187.410
Advantages in addition to wages		10.739.545	7.642.762	3.096.783

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

		1. Full-time	2. Part-time	3. Total full-time equivalents
At the closing date of the period
Number of employees	105	8.552	1.021	9.320,3
By nature of the employment contract
Contract for an indefinite period	110	8.279	1.014	9.045,3
Contract for a definite period	111	273	7	275,0
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to gender and study level
Men	120	6.163	425	6.487,2
primary education	1200
secondary education	1201	1.895	273	2.103,6
higher non-university education	1202	1.363	83	1.425,2
university education	1203	2.905	69	2.958,4
Women	121	2.389	596	2.833,1
primary education	1210
secondary education	1211	682	327	921,1
higher non-university education	1212	530	160	651,4
university education	1213	1.177	109	1.260,6
By professional category
Management staff	130	166		166,0
Employees	134	7.787	915	8.472,9
Workers	132	587	106	669,4
Others	133	12		12,0

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

Average number of persons employed
Number of hours actually worked
Costs for the enterprise

During the period	Codes	1. Hired temporary staff
Average number of persons employed	150	9,0
Number of hours actually worked	151	13.912
Costs for the enterprise	152	370.858

LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

ENTRIES Codes		1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees for whom the entreprise submitted a DIMONA declaration or who have been recorded in the general personnel register during the financial year		1.016	31	1.024,1
By nature of employment contract
Contract for an indefinite period	210	296	3	298,5
Contract for a definite period	211	720	28	725,6
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		2.059	1.033	2.825,0
By nature of employment contract
Contract for an indefinite period	310	1.535	1.010	2.295,8
Contract for a definite period	311	523	23	528,2
Contract for the execution of a specifically assigned work	312
Replacement contract		1		1,0
By reason of termination of contract
Retirement	340	117	34	143,0
Unemployment with extra allowance from enterprise	341
Dismissal		61	7	64,8
Other reason		1.881	992	2.617,2
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 TRAININGS 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	6.818	5811	3.196
Number of actual training hours	5802	176.021	5812	74.691
Net costs for the enterprise	5803	15.957.366	5813	6.771.190
of which gross costs directly linked to training	58031	15.729.202	58131	6.674.373
of which fees paid and paiments to collective funds	58032	228.164	58132	96.817
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	5.550	5831	2.744
Number of actual training hours	5822	103.166	5832	31.619
Net costs for the enterprise	5823	9.218.894	5833	2.825.468
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

SOCIAL REPORT

Note to codes 109, 110, 209, 210, 309 and 310

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

Code 109 & 110:
	Codes	1. Full-time	2. Part-time	3. Total Full-time equivalents
Statutary staff	code 109	1.744	358	2.016,3
Contractually staff	code 110	6.535	656	7.029
Code 209 & 210:
	Codes	1. Full-time	2. Part-time	3. Total Full-time equivalents
Statutory staff	code 209	0	0	0,0
Contractually staff	code 210	296	3	298,5
Code 309 & 310:
	Codes	1. Full-time	2. Part-time	3. Total Full-time equivalents
Statutory staff	code 309	400	676	913,5
Contractually staff	code 310	1.135	334	1.382,3

Numbers of joint industrial committees which are competent for the enterprise: Proximus PLC under Belgian Public Law has her own national joint industrial committee.

Code 1023

The code 1023 of the social report contains the personnel charges for the personnel for which the enterprise has filed a DIMONAdeclaration, 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.

The split men/women of code 1023 for the year 2020 has, as it was also the case for 2019, mainly been drawn up using the full inventory and split between the men/women of the salary data as derived from the salary calculation of 2020.

Information with regard to training received by employees during the period

In 2020, Proximus received subsidies for employees of 276.292,09 EUR in the framework of the training leave concerning 2018- 2019.

AI assistant

Proximus SA — Annual Report 2020

3989_rns_2021-03-19_07ff2995-0721-4a56-81cf-80b3fd6226d0.pdf

This annual account concerns a company that is subject to the provisions of the new Belgian Companies and 4

Associations Code dated 23 March 2019: Yes / No

The company is a company without share capital: Yes / No 5

DECLARATION ABOUT SUPPLEMENTARY AUDITING OR ADJUSTMENT MISSION

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

INCOME STATEMENT

APPROPRIATION ACCOUNT

STATEMENT OF TANGIBLE FIXED ASSETS

STATEMENT OF FINANCIAL FIXED ASSETS

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

INFORMATION RELATING TO THE SHARE IN THE CAPITAL

INFORMATION RELATING TO THE SHARE IN THE CAPITAL

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

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

DEFFERED CHARGES AND ACCRUED INCOME

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

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

Additional information

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

OPERATING RESULTS

FINANCIAL RESULTS

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

INCOME TAXES AND OTHER TAXES

INCOME TAXES AND OTHER TAXES

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

SUPPLEMENT RETIREMENTS OR SURVIVORS PENSION PLANS IN FAVOUR OF THE PERSONNEL OR THE EXECUTIVES OF THE ENTERPRISE

Brief description

Measures taken by the enterprise to cover the resulting charges

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET:

Universal Services

Tax on pylons

Compensation mechanism statutory retirees

V.A.T. unit

Claims and legal proceedings

1. Broadband/Broadcast Access Related Cases

2. Mobile On-net cases related

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

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

TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS

Additional information

FINANCIAL RELATIONSHIPS WITH

DERIVATIVES NOT MEASURED AT FAIR VALUE

FOR EACH CATEGORY OF FINANCIAL DERIVATIVES NOT MEASURED AT FAIR VALUE

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

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

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

VALUATION RULES

BALANCE SHEET

FORMATION EXPENSES

INTANGIBLE ASSETS

TANGIBLE ASSETS

FINANCIAL ASSETS

AMOUNTS RECEIVABLE AFTER MORE THAN ONE YEAR

STOCKS AND CONTRACTS IN PROGRESS

AMOUNTS RECEIVABLE WITHIN ONE YEAR

CURRENT INVESTMENTS

CASH AT BANK AND IN HAND

PROVISIONS AND DEFERRED TAXES

AMOUNTS PAYABLE WITHIN ONE YEAR AND AFTER MORE THAN ONE YEAR

TRANSLATION DIFFERENCES

INCOME STATEMENT

TURNOVER

RIGHT AND COMMITMENTS NOT ACCRUED IN THE BALANCE SHEET

SUPPLEMENTARY INFORMATION

APPROPRIATION ACCOUNT AND EVOLUTION OF THE RESERVES

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

INVESTMENT GRANTS

SOCIAL BALANCE SHEET

STATEMENT OF THE PERSONS EMPLOYED

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

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

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

Proximus SA Annual Report 2020