UCB — Annual Report 2011

Mar 23, 2012

40					1	EUR
Nr.	Date of the deposition	No. 0403.053.608		PP.	Е.	D.			$C$ 1.1
			ANNUAL ACCOUNT IN EURO
	NAME: UCB SA (ANGLAIS)
	Legal form: PLC
	Address: Allée de la Recherche							Nr.: 60
	Postal Code: 1070	City: Brussel 7
	Country: Belgium
	Register of Legal Persons (RLP) - Office of the commercial court at: Bruxelles
	Internet address *:
						Company number:		0403.053.608
DATE	13/11/2009							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 ACCOUNT approved by the General Meeting of				26/04/2012
	concerning the financial year covering the period from		1/01/2011			till		31/12/2011
		Previous period from	1/01/2010			till		31/12/2010
	The amounts of the previous financial year are / -are net ** identical to those which have been previously published.
	COMPLETE LIST WITH name, first name, profession, residence-address (address, number, postal code, municipality) and position with the enterprise, OF DIRECTORS, MANAGERS AND AUDITORS
BOONE Karel
	Boslaan 2C, 8300 Knokke-Heist, Belgium
	Title: President of the board of directors
	JANSSEN spouse of D. du MONCEAU de BERGENDAL Evelyn
	Avenue des Fleurs 14, 1150 Brussel 15, Belgium
	Title: Vice president of the board of directors
	DOLIVEUX Frédéric Roch
	Avenue Brassine 72, 1640 Sint-Genesius-Rode, Belgium
Title: Director
	DE GRAEVE Albrecht
	Molenwiek 6, 8300 Knokke-Heist, Belgium
Title : Director
	Enclosed to these annual accounts:
of service:	Total number of pages deposited: 5.2.1, 5.2.3, 5.2.4, $5.\overline{3}.\overline{4}$ , 5.5.2, $8, 9$	49						Number of the pages of the standard form not deposited for not being
	Signature						Signaldre
	(name and position)						(name and position)
	F.R. DOLIVEUX						K. BOONE
	Director						Chairman of the Board of Directors

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

DE DECKER Armand

Avenue de la Ferme Rose 4, 1180 Brussel 18, Belgium Title : Director

FELLNER Peter

c/o UCB S.A. Alléé de la Recherche 60, 1070 Brussel 7, Belgium Title : Director

KINET Jean-Pierre

c/o UCB S.A. Allée de la Recherche 60, 1170 Brussel 17, Belgium Title : Director

LEYSEN Thomas

Rue du Marais 31, 1000 Brussel 1, Belgium Title : Director

MAYR Gehrard

c/o UCB S.A. Allée de la Recherche 60, 1070 Brussel 7, Belgium Title : Director

McKILLOP Tom

c/o UCB S.A. Allée de la Recherche 60, 1070 Brussel 7, Belgium Title : Director

ORNSTEIN Norman J.

c/o UCB S.A. Allée de la Recherche 60, 1070 Brussel 7, Belgium Title : Director

Rue du Loutrier 65, 1170 Brussel 17, Belgium Title : Director De PRET Arnoud

JANSSEN spouse of J.van RIJCKEVORSEL P. Bridget

Clos du Soleil 6, 1150 Brussel 15, Belgium Title : Director

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

van de WERVE Gaëtan

Rue Père Eugène Devroye 66, 1150 Brussel 15, Belgium Title : Director

VAN DAMME Alexandre

Rue de l'Amazone 51, 1060 Brussel 6, Belgium Title : Director

PricewaterhouseCoopers Reviseurs d'Entreprises SCCRL 0429.501.944

Woluwe Garden, Woluwedal 18, 1932 Sint-Stevens-Woluwe, Belgium Title : Auditor, Number of membership : B00009

Represented by:

GABRIELS Bernard Generaal Leemanstraat 67 , 2018 Antwerpen 1, Belgium

Number of membership : A01109

DECLARATION ABOUT SUPPLEMENTARY AUDITING OR ADJUSTMENT MISSION

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

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

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

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

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

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

^* Delete where appropriate.

^** Optional disclosure.

BALANCE SHEET

	Notes	Codes	Period	Previous period
ASSETS
FIXED ASSETS		20/28	7.015.464.134	6.038.758.410
Formation expenses	5.1	20	31.437.777	30.302.041
Intangible fixed assets	5.2	21	188.681	290.000
Tangible fixed assets	5.3	22/27	7.057.870	6.940.707
Land and buildings		22	5.822.572	5.836.992
Plant, machinery and equipment		23	97.379	75.519
Furniture and vehicles		24	229.572	307.110
Leasing and other similar rights		25
Other tangible fixed assets		26	1.165	12.896
Assets under construction and advance payments		27	907.182	708.190
Financial fixed assets	5.4/ 5.5.1	28	6.976.779.806	6.001.225.662
Affiliated enterprises	5.14	280/1	6.958.948.099	5.986.343.482
Participating interests		280	6.958.948.099	5.986.343.482
Amounts receivable		281
Other enterprises linked by participating interests	5.14	282/3	17.635.214	14.684.200
Participating interests		282	17.635.214	14.684.200
Amounts receivable		283
Other financial assets		284/8	196.493	197.980
Shares		284	196.493	196.493
Amounts receivable and cash guarantees		285/8		1.487
CURRENT ASSETS		29/58	2.114.843.475	1.941.448.740
Amounts receivable after more than one year		29	1.809.298.094	1.818.777.062
Trade debtors		290
Other amounts receivable		291	1.809.298.094	1.818.777.062
Stocks and contracts in progress		3
Stocks		30/36
Raw materials and consumables		30/31
Work in progress		32
Finished goods		33
Goods purchased for resale		34
Immovable property intended for sale		35
Advance payments		36
Contracts in progress	5.5.1/	37
Amounts receivable within one year	5.6	40/41	56.323.796	93.263.838
Trade debtors		40	21.785.091	34.112.977
Other amounts receivable		41	34.538.705	59.150.861
Current investments		50/53	138.891.005	7.784
Own shares		50	125.369.697
Other investments and deposits		51/53	13.521.308	7.784
Cash at bank and in hand		54/58	84.339.550	1.597.574
Deferred charges and accrued income	5.6	490/1	25.991.030	27.802.482
TOTAL ASSETS		20/58	9.130.307.609	7.980.207.150

Nr. 0403.053.608 C 2.2

EQUITY AND LIABILITIES	Notes	Codes	Period	Previous period
EQUITY		10/15	5.375.130.324	4.353.919.956
Capital	5.7	10	550.095.156	550.095.156
Issued capital		100	550.095.156	550.095.156
Uncalled capital		101
Share premium account Revaluation surpluses		11 12	1.601.342.846	1.601.342.846
Reserves		13	3.079.134.061	2.054.134.061
Legal reserve		130	55.009.516	55.009.516
Reserves not available		131	125.369.697
In respect of own shares held		1310	125.369.697
Other		1311
Untaxed reserves		132
Available reserves		133	2.898.754.848	1.999.124.545
Accumulated profits (losses) (+)/(-)		14	144.558.261	148.347.893
Investment grants		15
Advance to associates on the sharing out of the assets		19
PROVISIONS AND DEFERRED TAXES		16	50.985.481	2.096.177
Provisions for liabilities and charges		160/5	50.985.481	2.096.177
Pensions and similar obligations		160	1.452.624	2.096.177
Taxation		161
Major repairs and maintenance		162
Other liabilities and charges	5.8	163/5	49.532.857
Deferred taxes		168
AMOUNTS PAYABLE		17/49	3.704.191.804	3.624.191.017
Amounts payable after more than one year	5.9	17	3.124.434.293	2.829.796.372
Financial debts		170/4	3.066.164.000	2.766.164.000
Subordinated loans		170	300.000.000
Unsubordinated debentures		171	1.750.000.000	1.750.000.000
Leasing and other similar obligations		172
Credit institutions		173
Other loans		174	1.016.164.000	1.016.164.000
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9	58.270.293	63.632.372
Amounts payable within one year		42/48	540.394.809	769.427.928
Current portion of amounts payable after more than one
year falling due within one year	5.9	42	290.000.000	240.000.000
Financial debts		43	39.034.082	300.021.740
Credit institutions		430/8	34.082	300.021.740
Other loans		439	39.000.000
Trade debts		44	12.243.886	11.880.655
Suppliers		440/4	12.243.886	11.880.655
Bills of exchange payable		441
Advances received on contracts in progress		46
Taxes, remuneration and social security	5.9	45	6.667.265	25.517.426
Taxes		450/3	783	20.287.525
Remuneration and social security		454/9	6.666.482	5.229.901
Other amounts payable		47/48	192.449.576	192.008.107
Accrued charges and deferred income	5.9	492/3	39.362.702	24.966.717
TOTAL LIABILITIES		10/49	9.130.307.609	7.980.207.150

INCOME STATEMENT

	Notes	Codes	Period	Previous period
Operating income	5.10	70/74	43.954.438	47.082.179
Turnover		70
Increase (decrease) in stocks of finished goods, work and contracts in progress (+)/(-)		71
Own construction capitalised		72
Other operating income		74	43.954.438	47.082.179
Operating charges		60/64	117.713.320	52.320.337
Raw materials, consumables		60
Purchases		600/8
Decrease (increase) in stocks (+)/(-)		609
Services and other goods		61	28.166.844	21.932.689
Remuneration, social security costs and pensions (+)/(-)	5.10	62	35.131.871	20.457.452
Depreciation of and amounts written off formation expenses, intangible and tangible fixed assets		630	4.463.218	8.983.613
Amounts written down stocks, contracts in progress and trade debtors - Appropriations (write-backs) (+)/(-)	5.10	631/4
Provisions for risks and charges - Appropriations (uses and write-backs) (+)/(-)	5.10	635/7	48.619.702	-213.842
Other operating charges	5.10	640/8	1.331.685	1.160.425
Operation charges carried to assets as restructuring costs (-)		649
Operating profit (loss) (+)/(-)		9901	-73.758.882	-5.238.158
Financial income		75	502.376.667	449.874.547
Income from financial fixed assets		750	319.799.492	250.399.461
Income from current assets		751	128.869.574	134.592.177
Other financial income	5.11	752/9	53.707.601	64.882.909
Financial charges	5.11	65	218.190.501	216.795.935
Debt charges		650	173.032.065	155.372.339
Amounts written down on current assets except stocks, contracts in progress and trade debtors (+)/(-)		651
Other financial charges		652/9	45.158.436	61.423.596
Gain (loss) on ordinary activities before taxes (+)/(-)		9902	210.427.284	227.840.454

	Codes	Period	Previous period
Extraordinary income	76	1.072.081.865	1.513.308
Write-back of depreciation and of amounts written down intangible and tangible fixed assets	760
Write-back of amounts written down financial fixed assets	761
Write-back of provisions for extraordinary liabilities and charges	762
Gains on disposal of fixed assets	763	1.072.081.865	1.513.308
Other extraordinary income	764/9
Extraordinary charges	66	99.491.576	8.807.818
Extraordinary depreciation of and extraordinary amounts written off formation expenses, intangible and tangible fixed assets	660		6.188.058
Amounts written down financial fixed assets	661	22.506.814
Provisions for extraordinary liabilities and charges - Appropriations (uses) (+)/(-)	662	269.602
Loss on disposal of fixed assets	663	76.715.160	2.619.760
Other extraordinary charges 5.11	664/8
Extraordinary charges carried to assets as restructuring costs (-)	669
Profit (loss) for the period before taxes (+)/(-)	9903	1.183.017.573	220.545.944
Transfer from postponed taxes	780
Transfer to postponed taxes	680
Income taxes 5.12	67/77	-18.790.550	1.325.617
Income taxes	670/3	1.104.932	1.325.617
Adjustment of income taxes and write-back of tax provisions	77	19.895.482
Profit (loss) for the period (+)/(-)	9904	1.201.808.123	219.220.327
Transfer from untaxed reserves	789
Transfer to untaxed reserves	689
Profit (loss) for the period available for appropriation (+)/(-)	9905	1.201.808.123	219.220.327

APPROPRIATION ACCOUNT

	Codes	Period	Previous period
Profit (loss) to be appropriated (+)/(-)	9906	1.350.156.016	365.045.644
Gain (loss) to be appropriated (+)/(-)	(9905)	1.201.808.123	219.220.327
Profit (loss) to be carried forward (+)/(-)	14P	148.347.893	145.825.317
Transfers from capital and reserves	791/2
from capital and share premium account	791
from reserves	792
Transfers to capital and reserves	691/2	1.025.000.000	37.000.000
to capital and share premium account	691
to the legal reserve	6920
to other reserves	6921	1.025.000.000	37.000.000
Profit (loss) to be carried forward (+)/(-)	(14)	144.558.261	148.347.893
Owner's contribution in respect of losses	794
Profit to be distributed	694/6	180.597.755	179.697.751
Dividends	694	180.597.755	179.697.751
Director's or manager's entitlements	695
Other beneficiaries	696

EXPLANATORY DISCLOSURES

STATEMENT OF FORMATION EXPENSES

	Codes	Period	Previous period
Net book value at the end of the period	20P	xxxxxxxxxxxxxxx	30.302.041
Movements during the period
New expenses incurred	8002	7.425.911
Depreciation	8003	6.290.175
Other (+)/(-)	8004
Net book value at the end of the period	(20)	31.437.777
Of which
Formation or capital increase expenses, loan issue expenses and other formation expenses	200/2	31.437.777
Restructuring costs	204

	Codes	Period	Previous period
CONCESSIONS, PATENTS, LICENCES, KNOWHOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx	725.000
Movements during the period
Acquisitions, including produced fixed assets	8022	50.401
Sales and disposals	8032
Transfers from one heading to another (+)/(-)	8042
Acquisition value at the end of the period	8052	775.401
Depreciation and amounts written down at the end of the period	8122P	xxxxxxxxxxxxxxx	435.000
Movements during the period
Recorded	8072	151.720
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102
Transfers from one heading to another (+)/(-)	8112
Depreciation and amounts written down at the end of the period	8122	586.720
NET BOOK VALUE AT THE END OF THE PERIOD	211	188.681

STATEMENT OF TANGIBLE FIXED ASSETS

	Codes	Period	Previous period
LAND AND BUILDINGS
Acquisition value at the end of the period	8191P	xxxxxxxxxxxxxxx	6.180.259
Movements during the period
Acquisitions, including produced fixed assets	8161	17.818
Sales and disposals	8171
Transfers from one heading to another (+)/(-)	8181	12.638
Acquisition value at the end of the period	8191	6.210.715
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	343.268
Movements during the period
Recorded	8271	44.875
Written back	8281
Acquisitions from third parties	8291
Cancelled owing to sales and disposals	8301
Transfers from one heading to another (+)/(-)	8311
Depreciation and amounts written down at the end of the period	8321	388.143
NET BOOK VALUE AT THE END OF THE PERIOD	(22)	5.822.572

	Codes	Period	Previous period
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period	8192P	xxxxxxxxxxxxxxx	93.864
Movements during the period
Acquisitions, including produced fixed assets	8162	17.281
Sales and disposals	8172
Transfers from one heading to another (+)/(-)	8182	21.692
Acquisition value at the end of the period	8192	132.837
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	18.345
Movements during the period
Recorded	8272	17.113
Written back	8282
Acquisitions from third parties	8292
Cancelled owing to sales and disposals	8302
Transfers from one heading to another (+)/(-)	8312
Depreciation and amounts written down at the end of the period	8322	35.458
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	97.379

	Codes	Period	Previous period
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	xxxxxxxxxxxxxxx	5.044.299
Movements during the period
Acquisitions, including produced fixed assets	8163	38.615
Sales and disposals	8173	56.751
Transfers from one heading to another (+)/(-)	8183	11.372
Acquisition value at the end of the period	8193	5.037.535
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	4.737.188
Movements during the period
Recorded	8273	127.526
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303	56.751
Transfers from one heading to another (+)/(-)	8313
Depreciation and amounts written down at the end of the period	8323	4.807.963
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	229.572

	Codes	Period	Previous period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	xxxxxxxxxxxxxxx	1.418.240
Movements during the period
Acquisitions, including produced fixed assets	8165
Sales and disposals	8175
Transfers from one heading to another (+)/(-)	8185
Acquisition value at the end of the period	8195	1.418.240
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	1.405.344
Movements during the period
Recorded	8275	11.731
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305
Transfers from one heading to another (+)/(-)	8315
Depreciation and amounts written down at the end of the period	8325	1.417.075
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	1.165

	Codes	Period	Previous period
ASSETS UNDER CONSTRUCTION AND ADVANCED PAYMENTS
Acquisition value at the end of the period	8196P	xxxxxxxxxxxxxxx	708.190
Movements during the period
Acquisitions, including produced fixed assets	8166	244.694
Sales and disposals	8176
Transfers from one heading to another (+)/(-)	8186	-45.702
Acquisition value at the end of the period	8196	907.182
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)	907.182

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	6.000.783.379
Movements during the period
Acquisitions, including produced fixed assets	8361	1.139.562.647
Sales and disposals	8371	144.451.216
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	6.995.894.810
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	14.416.658
Movements during the period
Recorded	8471	22.506.814
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	36.923.472
Uncalled amounts at the end of the period	8551P	xxxxxxxxxxxxxxx	23.239
Movements during the period (+)/(-)	8541
Uncalled amounts at the end of the period	8551	23.239
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	6.958.948.099
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
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8392P	xxxxxxxxxxxxxxx	14.684.200
Movements during the period
Acquisitions, including produced fixed assets	8362	2.951.014
Sales and disposals	8372
Transfers from one heading to another (+)/(-)	8382
Acquisition value at the end of the period	8392	17.635.214
Revaluation surpluses at the end of the period	8452P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8412
Acquisitions from third parties	8422
Cancelled	8432
Transfers from one heading to another (+)/(-)	8442
Revaluation surpluses at the end of the period	8452
Amounts written down et the end of the period	8522P	xxxxxxxxxxxxxxx
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
Uncalled amounts at the end of the period	8552P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8542
Uncalled amounts at the end of the period	8552
NET BOOK VALUE AT THE END OF THE PERIOD	(282)	17.635.214
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS - 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

	Codes	Period	Previous period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxxxxx	198.895
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	198.895
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	2.402
Movements during the period (+)/(-)	8543
Uncalled amounts at the end of the period	8553	2.402
NET BOOK VALUE AT THE END OF THE PERIOD	(284)	196.493
OTHER ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	285/8P	xxxxxxxxxxxxxxx	1.487
Movements during the period
Additions	8583
Repayments	8593	1.487
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
Other (+)/(-)	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8653

INFORMATION RELATING TO THE SHARE IN THE CAPITAL

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

List of both enterprises in wich the enterprise holds a participating interest (recorded in the heading 28 of assets) and other enterprises in which the enterprise holds rights (recorded in the headings 28 and 50/53 of assets) in the amount of at least 10% of the capital issued.

		Shares held by		Information from the most recent period for which annual accounts are available
NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER	directly		subsi diaries	Primary	Mone	Capital and reserves	Net result
	Number	%	%	financial statement	tary unit	(+) or (-) (in monetary units)
UCB Pharma PLC Allée de la Recherche 60 1070 Brussel 7 Belgium 0403.096.168				31/12/2011	EUR	808.053.235	-24.123.786
Ordinary Shares SOCIETE FINANCIERE UCB SA SE Rue Eugène Ruppert 12 2453 LUXEMBOURG Luxembourg	83443317 100,00		0,00	31/12/2011	EUR	158.778.821	-200.765
Ordinary Shares UCB LUX S.A. SE Rue Eugène 12 2453 LUXEMBOURG Luxembourg	32634 100,00		0,00	31/12/2011	EUR	5.146.136.896	-351.841.316
Parts UCB HOLDING INC. SE FC 1209 Orange Street 19801 WILMINGTON, DELAWARE United States of America	127429778	96,22	3,78	31/12/2011	USD	77.187.273	8.226.508
Parts UCB FINANCE SA SE Lage Mosten 33 4822 NK BREDA Holland		66 100,00	0,00	31/12/2011	EUR	1.916.624.174	370.670.961
Parts UCB FRANCE S.A. SE Rue Estienne d'Orves 420 F 92700 COLOMBES France	538459 100,00		0,00	31/12/2011	EUR	108.433.109	11.212.129
Ordinary Shares VEDIM PHARMA SA SE Paseo de la Castellana 141 28046 MADRID Spain	512596	92,94	7,06	31/12/2011	EUR	24.791.198	2.990.178
Parts	1235000 100,00		0,00

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

		Shares held by			Information from the most recent period for which annual accounts are available
NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER	directly		subsi diaries	Primary	Mone	Capital and reserves	Net result
	Number	%	%	financial statement	tary unit	(+) or (-) (in monetary units)
UCB JAPAN Co LTD FC Ochanomizu Kyoun Building 2-2, Kanda Surugadai 2-2 1010062 Surugadai 2-2, Chioda-Ku, TOKYO Japan				31/12/2011	JPY	5.761.575.711	2.033.346.519
Parts UCB (INVESTMENTS) LTD SE Bath Road 208 SLOUGH,SL1 3WE Berkshire United Kingdom	69980 100,00		0,00	31/12/2011	GBP	55.872.649	3.182.055
Parts UCB DE MEXICO S.A. de C.V. FC Homero, 440 7° Floor Col. Chapultepec Morales, 11570 MEXICO Mexico	35006834	77,92	22,08	31/12/2011	MXN	63.658.418	11.579.405
Ordinary Shares UCB PHARMA A.E. (GREECE) SE Vouliagmenis avenue 580 16452 ARGYROUPOLIS Greece	51449999 100,00		0,00	31/12/2011	EUR	197.549	-542.564
Ordinary Shares UCB (PHARMA) IRELAND LTD SE Unit Drug House, Magna Drive Magna Business Park, DUBLIN 24 Ireland	187561	99,85	0,15	31/12/2011	EUR	1.552.686	249.293
Parts KOREA UCB Co LTD S. Etr. FC 1674-1, Seocho-dong, Seocho-gu 137-881 SEOUL South Korea	59999 100,00		0,00	31/12/2011	KRW	11.207.068.740	6.706.647.573
Parts UCB TRADING (SHANGAI) CO LTD FC Shanghai office Tower 268 Shanghai China	138666 100,00		0,00	31/12/2011	CNY	-25.119.574	21.213.638
Parts		1 100,00	0,00

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

		Shares held by		Information from the most recent period for which annual accounts are available
NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER	directly		subsi diaries	Primary	Mone	Capital and reserves	Net result
	Number	%	%	financial statement	tary unit	(+) or (-) (in monetary units)
UCB PHARMA A.S. (Turkey) FC Rüzgarlibaçe, Cumhuriyet Caddesi Gerçekler				31/12/2011	TRY	8.254.093	-37.283
Sitesi B, kavacik/Beykoz, 34805 ISTANBUL Turkey
Parts UCB INDIA PRIVATE Ltd FC 500, Peninsula Towers, Ganpatrao Kadam 4000013 MUMBAI India	86813	7,93	92,07	31/12/2011	INR	352.144.132	163.712.021
Ordinary Shares UCB S.R.O (TCHEQUIE) SA SE Thamova 13 18600 PRAHA 8 Czech Republic		3527 100,00	0,00	31/12/2011	CZK	67.020.113	12.816.619
Parts UCB GMBH SE Alfred Nobelstrasse 10 D 40789 MONHEIM Germany	12300600 100,00		0,00	31/12/2011	EUR	-975.272.229	-1.204.898.464
Parts UCB HUNGARY LTD FC Obuda Gate Building, Arpad Fejelum utja 26-28 1023 BUDAPEST Hungary	394000	5,21	94,79	31/12/2011	HUF	165.521.195	17.521.195
Parts UCB PHARMA SP. z.o.o. (Poland) SE Ul. kruczkowskego 8 00-380 WARSAWA Poland	148000000 100,00		0,00	31/12/2011	PLN	24.877.657	9.594.382
Ordinary Shares UCB Pharma LLC (Russia) S. Etr. FC Shturvalnaya str. bldg15 1253645 Moscow Russia (Federation)	236456	78,05	21,95	31/12/2011	RUB	41.511.205	21.251.507
OrdInary Shares		1 100,00	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 Belgian law, the COMPANY NUMBER	directly		subsi diaries	Primary	Mone	Capital and reserves	Net result
	financial statement Number % %					tary unit	(+) or (-) (in monetary units)
UCB Bulgaria EOOD S. Etr. FC Lyubata Str. Fl4 1407 Lozenetz, Sofia Bulgaria				31/12/2011	BGN	271.910	147.118
Ordinary Shares		500 100,00	0,00

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

	Codes	Period	Previous period
INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS
Shares	51	7.784	7.784
Book value increased with the uncalled amount	8681	7.784	7.784
Uncalled amount	8682
Fixed income securities	52
Fixed income securities issued by credit institutions	8684
Fixed term deposit with credit institutions	53
Falling due
less or up to one month	8686
between one month and one year	8687
over one year	8688
Other investments not yet shown seperately	8689	13.513.524

DEFFERED CHARGES AND ACCRUED INCOME

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

Deferred charges - Hybrid Capital bond 1.266.074

Period Accrued interests 23.511.636 Deferred charges 1.212.554 Waiting account 766

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

STATEMENT OF CAPITAL

Social capital

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

Codes	Period	Previous period
100P	XXXXXXXXXXXXXX	550.095.156
(100)	550.095.156

	Codes	Amounts	Number of shares
Changes during the period:
Structure of the capital Different categories of shares
Ordinary shares		550.095.156	183.365.052
Registered shares	8702	XXXXXXXXXXXXXX	72.404.351
Bearer shares and/or dematerialized shares	8703	XXXXXXXXXXXXXX	110.960.701

	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	11.985.570
Number of shares held	8722	3.995.190
Held by the subsidiaries
Amount of capital held	8731
Number of shares held	8732
Commitments to issue shares
Following the exercising of CONVERSION RIGHTS
Amount of outstanding convertible loans	8740
Amount of capital to be subscribed	8741
Corresponding maximum number of shares to be issued	8742
Following the exercising of SUBSCRIPTION RIGHTS
Number of outstanding subscription rights	8745	122.400
Amount of capital to be subscribed	8746	367.200
Corresponding maximum number of shares to be issued	8747	122.400
Authorized capital, not issued	8751

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

	Codes	Period
Shared issued, not representing capital
Distribution
Number of shares held	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidairies	8781

		In relation with 183.365.052 shares
	Capital €	550.095.156
	Actions	183.365.052
$\mathbf{1}$	Financière de Tubize SA (Tubize)	66.370.000
	% total	36,20
$\overline{2}$	UCB SA	3.995.190
	% total	2,18
3	UCB Fipar SA	3.136.150
	% total	1,71
$\overline{4}$	UCB SCA	1
	% total	0,00
5	Schwarz Vermögensverwaltung GmbH	2.471.404
	% total	1,35
6	Banque Degroof SA
	Via Degroof Corporate Finance SA	450.000
	Via Imofig SA	219.230
	Levimmo SA	1.230.770
	% total	1,04
$\overline{7}$	Compar Invest SA	$\mathbf{O}$
	par Compar Finance SA	1.900.000
	% total	1,04
8	Pharmahold SA	1.900.000
	par Cosylva SA	1.900.000
	% total	2,07
	Tubize+ sociétés liées + concert 5,6,7,8	83.572.745
	% total des droits de vote sur le nombre total d'actions détenues en concert	45,58
9	Capital Research and Management Company (voting interests)	21.717.895
	% total	11,84
	Including the UCB shares held by Euro Pacific Growth Fund which exceed 3% of UCB S.A. capital
indicated	Tubize has declared acting in concert separately with each of the shareholders 5, 6, 7, 8 for the number of shares as

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

Additional UCB shares held by persons acting in concert with Tubize, but which are not included in the concert agreements
with Tubize
Compar Finance SA	165.830
% total	0,09
Pharmahold SA	1.100.000
% total	0,60
Cosylva SA	1.100.000
% total	0,60
Total voting rights including persons acting in concert with Tubize and including Tubize
	46,87

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

	Period
ALLOCATION OF THE HEADING 163/5 OF LIABILITIES IF THE AMOUNT IS CONSIDERABLE
	40.742.839
Provision for stock awards	8.520.416
Provision for dismissal	269.601

Financial debts	8801
Subordinated loans	8811
Unsubordinated debentures	8821
Leasing and other similar obligations	8831
Credit institutions	8841
Other loans	8851
Trade debts	8861	290.000.000
Suppliers	8871
Bills of exchange payable	8881	290.000.000
Advance payments received on contracts in progress	8891
Other amounts payable	8901
Total amounts payable after more than one year, not more than one year	(42)	290.000.000
Amounts payable after more than one year, between one and five years
Financial debts	8802	2.766.164.000
Subordinated loans	8812
Unsubordinated debentures	8822	1.750.000.000
Leasing and other similar obligations	8832
Credit institutions	8842
Other loans	8852	1.016.164.000
Trade debts	8862
Suppliers	8872
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892
Other amounts payable	8902	45.999.461
Total amounts payable after more than one year, between one and five years	8912	2.812.163.461
Amounts payable after more than one year, over five years
Financial debts	8803	300.000.000
Subordinated loans	8813	300.000.000
Unsubordinated debentures	8823
Leasing and other similar obligations	8833
Credit institutions	8843
Other loans	8853
Trade debts	8863
Suppliers	8873
Bills of exchange payable	8883
Advance payments received on contracts in progress	8893
Other amounts payable	8903	12.270.832
Total amounts payable after more than one year, over five years	8913	312.270.832

	Codes	Period
AMOUNTS PAYABLE GUARANTEED (headings 17 and 42/48 of liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and other similar obligations	8951
Credit institutions	8961
Other loans	8971
Trade debts	8981
Suppliers	8991
Bills of exchange payable	9001
Advance payments received on contracts in progress	9011
Remuneration and social security	9021
Other amounts payable	9051
Total amounts payable guaranteed by Belgian public authorities	9061
Amounts payable guaranteed by real guarantees given or irrevocably promised by the enterprise on its own assets
Financial debts	8922
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and other similar obligations	8952
Credit institutions	8962
Other loans	8972
Trade debts	8982
Suppliers	8992
Bills of exchange payable	9002
Advance payments received on contracts in progress	9012
Taxes, remuneration and social security	9022
Taxes	9032
Remuneration and social security	9042
Other amounts payable	9052
Total amounts payable guaranteed by real guarantees given or irrevocably promised by the enterprise on its own assets	9062
AMOUNTS PAYABLE FOR TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 of the liabilities)
Expired taxes payable	9072
Non expired taxes payable	9073	783
Estimated taxes payable	450
Remuneration and social security (heading 454/9 of the liabilities)
Amount due to the National Office of Social Security	9076
Other amounts payable relating to remuneration and social security	9077	6.666.481

Nr.	0403.053.608		C 5.9
			Period
	ACCRUED CHARGES AND DEFERRED INCOME
Allocation of the heading 492/3 of liabilities if the amount is considerable
	Interests accrued charges		39.125.100
	Unrealized Exchange differences		24.733
	Other accrued charges		212.870

OPERATING RESULTS

	Codes	Period	Previous period
OPERATING INCOME
Net turnover
Broken down by categories of activity
Allocation into geographical markets
Other operating income
Total amount of subsidies and compensatory amounts obtained from public authorities	740
OPERATING COSTS
Employees recorded in the personnel register
Total number at the closing date	9086	102	85
Average number of employees calculated in full-time equivalents	9087	88,8	80,5
Number of actual worked hours	9088	140.271	125.700
Personnel costs
Remuneration and direct social benefits	620	16.753.040	14.051.488
Employers' social security contributions	621	4.145.034	3.024.046
Employers' premiums for extra statutory insurances	622	2.030.503	2.505.170
Other personnel costs	623	12.162.032	840.368
Old-age and widows' pensions	624	41.262	36.380
Provisions for pensions
Additions (uses and write-back) (+)/(-)	635	-643.553	-213.842
Amounts written off
Stocks and contracts in progress
Recorded	9110
Written back	9111
Trade debtors
Recorded	9112
Written back	9113
Provisions for risks and charges
Additions	9115	49.263.235
Uses and write-back	9116	643.533	213.842
Other operating charges
Taxes related to operation	640	1.329.812	1.157.515
Other charges	641/8	1.873	2.910
Hired temporary staff and persons placed at the enterprise's disposal
Total number at the closing date	9096
Average number calculated as full-time equivalents	9097	0,3	0,3
Number of actual worked hours	9098	512	622
Charges to the enterprise	617	15.836	15.997

FINANCIAL AND EXTRAORDINARY RESULTS

	Codes	Period	Previous period
FINANCIAL RESULTS
Other financial income
Amount of subsidies granted by public authorities, credited to income for the period
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
Realized exchange losses		15.141.213	27.310.136
Interests on financial instruments (Interest Rate Swap)		37.842.810	37.572.773
Realization of capital gains on current investments		723.578
Amounts written down off loan issue expenses and repayment premiums	6501	2.179.922	2.042.387
Interests recorded as assets	6503
Value adjustments to current assets
Appropriations	6510
Write-backs	6511
Other financial charges
Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial charges
Realized exchange losses		17.344.985	28.308.687
Bank Charges		187.398	240.496
Interests on financial instruments (Interest Rate Swap)		27.626.053	32.874.413

EXTRAORDINARY RESULTS

Allocation other extraordinary income

Allocation other extraordinary charges

Period

INCOME TAXE

Income taxes on the result of the current period	9134	1.104.932
Income taxes paid and withholding taxes due or paid	9135	1.104.932
Excess of income tax prepayments and withholding taxes recorded under assets	9136
Estimated additional taxes	9137
Income taxes on previous periods	9138
Taxes and withholding taxes due or paid	9139
Estimated additional taxes estimated or provided for	9140
In so far as income taxes of the current period are materially affected by differences between the profit before taxes, as stated in the annual accounts, and the estimated taxable profit
Exempted dividends		-266.077.617
DNA		106.962.045
Foreign taxes		-1.104.931
Gain on disposal of shares		-1.071.686.373
Provision		48.889.303

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

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141	98.698.449
Accumulated tax losses deductible from future taxable profits	9142
Other deferred taxes representing assets
Exempted Dividends		98.698.449
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities
Exempted Dividends

	Codes	Period	Previous Period
THE TOTAL AMOUNT OF VALUE ADDED TAX AND TAXES BORNE BY THIRD PARTIES
The total amount of value added tax charged
To the enterprise (deductible)	9145	7.141.455	3.721.129
By the enterprise	9146	5.231.766	1.829.766
Amounts retained on behalf of third parties for
Payroll withholding taxes	9147	7.230.766	5.523.583
Withholding taxes on investment income	9148	20.041.869	21.485.747

	Code	Period
PERSONAL GUARANTEES GIVEN OR IRREVOCABLY PROMISED BY THE ENTERPRISE AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES	9149
Of which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the enterprise	9153
REAL GUARANTEES
Real guarantees given or irrevocably promised by the enterprise on its own assets as a security of debts and commitments from the enterprise
Mortgages
Book value of the immovable proporties mortgaged	9161
Amount of registration	9171
Pledging on goodwill - amount of registration	9181
Pledging of other assets - Book value of other assets pledged	9191
Guarantees provided on future assets - Amount of assets involved	9201
Real guarantees given or irrevocably promised by the enterprise on its own assets as a security of debts and commitments from third parties
Mortgages
Book value of the immovable proporties mortgaged	9162
Amount of registration	9172
Pledging on goodwill - amount of registration	9182
Pledging of other assets - Book value of other assets pledged	9192
Guarantees provided on future assets - Amount of assets involved	9202
GOODS AND VALUES, NOT DISCLOSED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN THEIR OWN NAME BUT AT RISK TO AND FOR THE BENEFIT OF THE ENTERPRISE
SUBSTANCIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
SUBSTANCIAL COMMITMENTS TO DISPOSE FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215	48.317.215
Currencies sold (to be delivered)	9216	48.317.215

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

INFORMATION CONCERNING IMPORTANT LITIGATION AND OTHER COMMITMENTS NOT MENTIONED ABOVE

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

See Page C27/C28

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

PENSIONS FUNDED BY THE ENTERPRISE

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

Code	Period
9220

Methods of estimation

......................... .. NATURE AND BUSINESS PURPOSE OF OFF-BALANCE SHEET ARRANGEMENTS

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

	Codes	Period	Previous period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	6.958.948.099	5.986.343.482
Investments	(280)	6.958.948.099	5.986.343.482
Amounts receivable subordinated	9271
Other amounts receivable	9281
Amounts receivable	9291	1.864.697.245	1.910.934.531
After one year	9301	1.809.296.097	1.818.775.065
Within one year	9311	55.401.148	92.159.466
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	1.307.441.139	1.257.070.596
After one year	9361	1.015.564.000	1.015.564.000
Within one year	9371	291.877.139	241.506.596
Personal and real guarantees
Provided or irrevocably promised by the enterprise, as security for debts or
commitments of affiliated enterprises	9381	3.120.000
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391
Other substancial financial commitments	9401
Financial results
Income from financial fixed assets	9421	319.683.710	250.399.383
Income from current assets	9431	128.493.959	134.573.140
Other financial income	9441
Debts charges	9461	42.753.375	41.000.041
Other financial charges	9471
Gains and losses on disposal of fixed assets
Obtained capital gains	9481
Obtained capital losses	9491
ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	(282/3)	17.635.214	14.684.200
Investments	(282)	17.635.214	14.684.200
Amounts receivable subordinated	9272
Other amounts receivable	9282
Amounts receivable	9292
After one year	9302
Within one year	9312
Amounts payable	9352
After one year	9362
Within one year	9372

TRANSACTIONS WITH RELATED PARTIES OUTSIDE NORMAL MARKET CONDITIONS

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

	Codes	Period
DIRECTORS AND MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS, OTHER ENTERPRISES CONTROLLED BY THE SUB B. MENTIONED PERSONS WITHOUT BEING ASSOCIATED THEREWITH
Amounts receivable from these persons	9500
Conditions on amounts receivable
Guarantees provided in their favour	9501
Guarantees provided in their favour - Main condition
Other significant commitments undertaken in their favour	9502
Other significant commitments undertaken in their favour - Main condition
Amount of direct and indirect remunerations and pensions, included in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person
To directors and managers	9503	1.050.000
To former directors and former managers	9504	102.000

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO
Auditor's fees	9505	354.000
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061	118.593
Tax consultancy	95062
Other missions external to the audit	95063
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082	7.500
Other missions external to the audit	95083

Mention related to article 133 paragraph 6 from the Companies Code

DERIVATIVES NOT MEASURED AT FAIR VALUE

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

Net impact of hedging int. rates linked to a portion of the 'credit facility' 4.632.638 Net impact of the hedge of the fair value of the debt (EUR 1 055 000 000) -514.283

Period

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

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

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

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

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

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

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

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

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

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

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

^* Delete where no appropriate.

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

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

	Codes	Period
Mentions related to article 134, paragraphs 4 and 5 from the Companies Law
Auditor's fees for carrying out an auditor's mandate on the level of the group led by the company that publishes the information	9507	2.055.663
Fees for exceptional services or special missions executed in this group by the auditor(s)
Other attestation missions	95071	147.781
Tax consultancy	95072
Other missions external to the audit	95073	114.616
Fees for the people they are linked to the auditor(s) for carrying out an auditor's mandate on the level of the group led by the company that publishes the information	9509
Fees for exceptional services or special missions executed in this group by the people they are linked to the auditor(s)
Other attestation missions	95091
Tax consultancy	95092
Other missions external to the audit	95093

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

SOCIAL REPORT

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

STATEMENT OF THE PERSONS EMPLOYED EMPLOYEES RECORDED IN THE STAFF REGISTER

During the period and the previous period	Codes	1. Full-time	2. Part-time	3. Total (T) or total of full-time equivalents (FTE)	3P.Total (T) or total of full-time equivalents (FTE)
		(period)	(period)	(period)	(previous period)
Average number of employees	100	78,9	12,0	88,8 (FTE)	80,5 (FTE)
Number of hours actually worked	101	125.496	14.775	140.271 (T)	125.700 (T)
Personnel costs	102	31.394.451	3.696.158	35.090.609 (T)	20.421.072 (T)
Advantages in addition to wages	103	xxxxxxxxxxxxxxx xxxxxxx	xxxxxxxxxxxxxxx xxxxxxx	(T)	(T)

At the closing date of the period	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
Number of employees recorded in the personnel register	105	87	15	99,1
By nature of the employment contract
Contract for an indefinite period	110	81	15	93,1
Contract for a definite period	111	6		6,0
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to the gender and by level of education Male	120	36	1	36,4
primary education 1200
secondary education	1201
higher education (non-university)	1202	1		1,0
university education	1203	35	1	35,4
Female	121	51	14	62,7
primary education	1210
secondary education	1211	3	1	3,8
higher education (non-university)	1212	7	9	14,6
university education	1213	41	4	44,3
By professional category
Management staff	130	9		9,0
Employees	134	78	15	90,1
Workers	132
Other	133

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

During the period	Codes	1. Temporary personnel	2. Persons placed at the disposal of the enterprise
Average number of employees	150	0,3
Number of hours actually worked	151	512
Charges of the enterprise	152	15.836

TABLE OF PERSONNEL CHANGES DURING THE PERIOD

ENTRIES	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
Number of employees recorded on the personnel register during the financial year	205	23	6	27,5
By nature of the employment contract
Contract for an indefinite period	210	19	5	23,1
Contract for a definite period	211	4	1	4,4
Contract for the execution of a specifically assigned work	212
Replacement contract	213

DEPARTURES	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
The number of employees with a in the staff register listed date of termination of the contract during the period	305	11	1	11,8
By nature of the employment contract
Contract for an indefinite period	310	10	1	10,8
Contract for a definite period	311	1		1,0
Contract for the execution of a specifically assigned work	312
Replacement contract	313
According to the reason for termination of the employment contract
Retirement	340	1		1,0
Early retirement	341
Dismissal	342	4		4,0
Other reason	343	6	1	6,8
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 WITH REGARD TO TRAINING RECEIVED BY EMPLOYEES DURING THE PERIOD

Total number of official advanced professional training projects at company expense	Codes	Male	Codes	Female
Number of participating employees	5801	43	5811	71
Number of training hours	5802	95	5812	90
Costs for the company	5803	3.281	5813	2.781
of which gross costs directly linked to the training	58031		58131
of which paid contributions and deposits in collective funds	58032	3.281	58132	2.781
of which received subsidies (to be deducted)	58033		58133
Total number of less official and unofficial advance professional training projects at company expense
Number of participating employees	5821		5831
Number of training hours	5822		5832
Costs for the company	5823		5833
Total number of initial professional training projects at company expense
Number of participating employees	5841		5851
Number of training hours	5842		5852
Costs for the company	5843		5853

VALUATION RULES

SUMMARY OF VALUATION RULES. -----------------------------------------------

I. Formation expenses.

Formation expenses, which are not taken account of in the profit and loss account of the year, in which they are incurred, are depreciated over a maximum period of five years.

II. Intangible fixed assets.

R & D costs have been transferred to intangible fixed assets at their purchase or cost price.

In order to make results of the previous years comparable, R & D costs capitalized have been wholly depreciated as a charge against current profits but the difference between the actual amount of depreciation taken in the year and the gross amount capitalized has been treated as a write-back of depreciation in the exceptional profits.

Since 1984, a depreciation rate has been applied to these costs not exceeding that of reducing depreciation based on a life of four years, being in practice 50 % in the first year and 25 % in the second and third years. From 1990, a straight line depreciation rate of 33,33 % has been applied to these costs, based on a three year life considering "prorata temporis".

The purchase price of patents, licenses and similar items has been depreciated at a minimum rate equal to that of the assets required to handle the patent or process and otherwise over three years by the straight line method. From 1990, the purchase price of patents, licenses and similar items has been depreciated over a fixed number of years, whose number cannot be less than five, equivalent to 20 % per annum considering "prorata temporis".

The purchase price of patents, licenses and similar items can also be depreciated in function of a prudent appreciation on the duration of the economic life of this intangible asset.

The purchase or cost price of intangible fixed assets, other than those referred to above, and which are eligible for subsidies (costs of commercial studies, of organizations, etc.) have been wholly depreciated in the year in which these expenses were incurred.

Intangible fixed assets, whose depreciation is taken over a period of five years or less, are removed from the balance sheet along with the relevant depreciation during the fifth year following their inclusion in assets.

Software acquired which is not essential for the functioning of the computer system and of a value above 1.250 Euro has been treated as an intangible fixed assets and "prorata temporis" depreciated over five years on a straight line basis.

Intangible fixed assets, whose depreciation is taken over a period of five years or less, are removed from the balance sheet along with the relevant "prorata temporis" depreciation during the fifth year following their inclusion in assets.

Since 2003, costs of new acquisitions haven been depreciated on a "prorata temporis" basis.

III. Tangible fixed assets.

Fixed assets purchased from third parties have been included in the assets on the balance sheet at their purchase price ; assets manufactured by the company itself have been valued at their cost price.

The purchase or cost price has been depreciated on a straight line basis considering "prorata temporis" at the usual rates agreed by the tax authorities which prevent overvaluation of the net value of fixed assets.

These annual rates of depreciation are as follows :

Buildings, houses	3 %
Administrative buildings	3 %
Industrial buildings	5 %
Tools	15 %
Furniture and office equipment	15 %
Vehicles	20 %
Computer equipment and office machinery	33 1/3 %
Prototype equipment	33 1/3 %
Assets in the course of construction at the rate of the item
and provided for to which they will be transferred

In specific economical circumstances, write-off can be increased.

Tangible fixed assets sold to third parties have been written off at their gross value. At the same time the depreciation already taken in the previous year has been written back. The difference between the amount realized and the residual values gives rise to a surplus or deficit, which has been taken in exceptional profits and losses.

Fixed assets taken out of use have followed the same procedure. The residual value has been depreciated in total and taken against exceptional profits.

In the case of the transfer (by sale or contribution) of a branch of activity or of a division, the depreciation relating to the tangible fixed assets thus transferred during the year has been calculated pro rata temporis to the holding in the company.

VALUATION RULES

Reciprocally, the rule of pro rata temporis has been applied to those tangible fixed assets entering into the balance sheet of the company following the acquisition during the year of a branch of activity or of a division.

Software acquired essential for the functioning of the computer system has been treated as tangible fixed assets and has been depreciated in accordance with the rules in force for computer equipment, being 33 1/3 % per annum.

IV. Financial fixed assets.

Shareholdings have been valued individually each year by the Board of Directors on the basis of their valuation on the stock exchange, their realizable value, their income and their potential interest for the future of the UCB Group. Reductions in value, which have resulted, have been taken against exceptional profits and losses.

V. Stocks.

Bought-in items, both raw materials and supplies, have been valued at cost price or at market price, if the latter is lower.

The purchase price includes the value of the purchases increased by import duties or excise taxes, transport costs and taxes not recoverable and, where appropriate, unloading costs.

Write-offs are made annually on slow moving spares in order to achieve on a cumulative basis the same percentage write-off as depreciation on the corresponding tangible fixed assets. The annual charge may, however, not exceed 10 % of the value of the stock of these items at the end of the year.

Work in progress and finished goods have been valued at industrial cost, that is excluding general charges (other than factory overheads), depreciation and financial charges. This value has been reduced to likely selling prices, less related sales costs, if these are lower.

Marketable goods have been valued at their cost price or at market price at the end of the year, if the latter is lower.

The purchase price of major raw materials and consumable stores, including those incorporated in work in progress and finished goods, has been fixed in accordance with the LIFO method. The purchase price of other stocks has been ì fixed in accordance with the FIFO method.

VI. Receivables and liabilities.

Have been entered on the balance sheet at their nominal value.

Receivables have been written down if their repayment, when due, is wholly or partly uncertain or doubtful.

VII. Assets and commitments in foreign currencies.

Non-monetary assets and liabilities (for example stocks, buildings and shareholdings), resulting from an operation in foreign currencies, have been, and will continue to be, entered into the accounts at their acquisition value in Euro resulting from the conversion of the amount in foreign currency at the rate of exchange in force at the day on which the operation was done (historic rate).

This rule also applies to the conversion into Euro of monetary receivables and payables expresses in foreign currency. At the end of the year, however, the counter value in Euro of these items is subject to revaluation on the basis of the average spot market price, at the date to which the accounts are made up. The differences in conversion resulting from these revaluations are grouped together by currency. The net positive differences are booked as an accrued income, whilst the net negative differences are treated as costs. Currencies ì to be received or paid as a result of forward exchange contracts have been revaluated on the basis of the spot rate at the end of the year.

VIII. Provisions for risk and charges.

All risks affecting the company, have been the subject of provision which are re-assessed each year, following the ì rules of prudence, good faith and sincerity.

RIGHTS AND COMMITMENTS NOT INCLUDED IN THE BALANCE SHEET.

DESCRIPTION OF THE SUPPLEMENTARY SCHEME FOR RETIREMENT AND SURVIVING DEPENDANTS PENSIONS.

I. Supplementary scheme for retirement pensions.

UCB SA has made regulations setting out an objective to be attained concerning the resources to be made available to ì retired salaried staff. The objective decided upon is to be achieved by the payment to those retired, over and ì above the legal pension of :

VALUATION RULES

a) pensions or lump sums resulting from the maturity at the time of their retirement of group insurance policies, ì whose premiums have been paid by the person concerned throughout his career ;

b) possible pensions paid by the ASBL Fonds de Prévoyance UCB, a supplementary pension fund maintained from monthly ì payments made by the company ;

c) a special sum, depending on the length of service, paid by the company on their retirement.

II. Supplementary scheme for pensions to surviving dependants.

UCB SA has also subscribed to insurance policies in favor of the heirs of its salaried staff covering :

• death benefit

• temporary pensions to orphans.

These insurances are financed by the payment of annual premiums by the company.

In addition, the company pays to a widow of a salaried staff employee, who dies in service, a special payment as an additional widow's pension.

III. Other Benefits.

UCB SA has made internal regulations providing income to be given to employees absent through accident, sickness, maternity, etc., for periods which vary according to their length of service.

SUPPLEMENTARY INFORMATION

1. Issue of loan stock with warrants.

On the 10th of June, 2003, UCB made an issue outside the rights of preference of a loan stock of 600,000.00 Euro for five years, at a floating rate of interest, with 1,000 warrants. The exercise of these warrants, which would lead to the issue of 30,000,000 UCB unquoted nominal shares, whose transfer is subject to the control of the Board of Directors of UCB, is limited to the case where the Board would determine that the stability of the shareholding and the social interest of the company would be threatened. The shares resulting from the possible exercise of these warrants would be issued by reference to the market price during a period prior to their issue.

2. Audit fees (art. 134 §2 and 4 Companies Code)

In addition to the amounts agreed by the General Assembly if Shareholders, UCB SA paid to the College of Commissaires in 2011 supplementary fees for special work relating to audit, consultancy and fiscal advisory. The additional fee should not influence the independence of the College.

The total amount of this remuneration was Euro 517.190,00 EUR and is detailed as follows:

	Audit	Other audit services	Due diligence	Total
Total	354.000,00	126.093	0	480.093,00

1. Major events after the balance sheet date

No major event occurred after the balance sheet date.