40			1 EUR
NAT. Filing date		Nº. 0448.746.744	P. U. D.		C-c 1
ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE
IDENTIFICATION DETAILS (at the filing date)
NAME:	VAN DE VELDE NV
Legal form: NV
Address: Lageweg					Nº. 4
Postal code: 9260		Town: Wichelen
Country: Belgium
Register of legal persons - commercial court: Gent, Division Dendermonde Website 1:
			Company registration number		0448.746.744
18/05/2017 of filing the most recent document mentioning the date of publication of DATE the deed of incorporation and of the deed of amendment of the articles of association,
ANNUAL ACCOUNTS		IN EURO (2 decimals)	2
			approved by the general meeting of		28/04/2021
		regarding the period from	1/01/2020	to	31/12/2020
		Preceding period from	1/01/2019	to	31/12/2019
The amounts for the preceding period are / are not 3 identical to the ones previously published.
Total number of pages filed: 55			Numbers of the sections of the standard model form not filed

because they serve no useful purpose: 6.1, 6.2.1, 6.2., 6.3.4, 6.5.2, 6.6, 6.8, 6.18.2, 6.20, 8, 9, 11, 12, 13, 14, 15

Signature (name and position) BV Mavac Vertegenwoordigd door M. Vaesen

Signature (name and position) NV Van de Velde Herman Vertegenwoordigd door H. Van de Velde

¹ Optional mention.

² If necessary, change to currency in which the amounts are expressed.

³ Strike out what does not apply.

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS

COMPLETE LIST with surname, first names, profession, place of residence (address, number, postal code and town) and position within the company

HERMAN VAN DE VELDE NV 0460.768.212

Dendermondsesteenweg 90, 9230 Wetteren, Belgium

Title : President of the board of directors

Mandate : 25/04/2018- 28/04/2021

Represented by :

1. Van de Velde Herman
2. Dendermondsesteenweg 90 , 9230 Wetteren, Belgium

LAUREYS LUCAS

Heidebergenpark 20, 9830 Sint-Martens-Latem, Belgium Title : Director Mandate : 24/04/2019- 27/04/2022

LAUREYS BENEDICTE

Nelemeersstraat 74, 9830 Sint-Martens-Latem, Belgium Title : Director Mandate : 25/04/2018- 28/04/2021

BENOIT GRAULICH BV 0472.527.877

Bergstraat 16, 1850 Grimbergen, Belgium Title : Director Mandate : 24/04/2019- 29/04/2020 Represented by : 1. Graulich Benoit

Bergstraat 16 , 1850 Grimbergen, Belgium

DIRK GOEMINNE BV 0897.660.071

Oudeheerweg-Heide 77, 9250 Waasmunster, Belgium Title : Director Mandate : 29/04/2020- 28/04/2021 Represented by : 1. Goeminne Dirk

Oudeheerweg-Heide 77 , 9250 Waasmunster, Belgium

YJC BV 0652.675.683

Zeedijk - Albertstrand 434, box 24, 8301 Heist-aan-Zee, Belgium Title : Director

Mandate : 29/04/2020- 26/04/2023

Represented by :

1. Jansen Yvan
2. Bosveldweg 61 , 1180 Brussel 18, Belgium

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS (continued from previous page)

MAVAC BV 0824.965.994

Daalstraat 34, 1852 Beigem, Belgium

Title : Delegated director

Mandate : 24/04/2019- 27/04/2022

Represented by :

Vaesen Marleen

Daalstraat 34 , 1852 Beigem, Belgium

LAUREYS VERONIQUE

Mortelputstraat 37, 9830 Sint-Martens-Latem, Belgium Title : Director Mandate : 29/04/2020- 26/04/2023

VALSEBA BV 0639.986.994

Muizenberg 3, 9250 Waasmunster, Belgium Title : Director Mandate : 24/04/2019- 27/04/2022 Represented by : 1. Maes Isabelle Muizenberg 3 , 9250 Waasmunster, Belgium

VAN DE VELDE GREET

Eenbeekstraat 5, 9070 Destelbergen, Belgium Title : Director Mandate : 29/04/2020- 26/04/2023

EY BEDRIJFSREVISOREN B BV 00437.476.235

Pauline Van Pottelberghelaan 12, 9051 Sint-Denijs-Westrem, Belgium

Title : Auditor, Membership number : B160

Mandate : 24/04/2019- 27/04/2022

Represented by :

1. Boelens Francis
2. Pauline Van Pottelberghelaan 12 , 9051 Sint-Denijs-Westrem, Belgium

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

The managing board declares that not a single audit or correction assignment has been given to a person not authorized to do so by law, pursuant to articles 34 and 37 of the law of 22 April 1999 concerning accounting and tax professions.

The annual accounts were not * or corrected by an external accountant or by a company auditor who is not the statutory auditor.

If affirmative, should be mentioned hereafter surname, first names, profession and address of each external accountant or company auditor and their membership number at their Institute, as well as the nature of their assignment:

A. Bookkeeping of the company **,
Preparing the annual accounts **, B.
். Auditing the annual accounts and/or
Correcting the annual accounts. D.

If the tasks mentioned under A or B are executed by certified accountants or certified bookkeepers - tax experts, the following information can be mentioned hereafter: surname, first names, profession and address of each certified bookkeeper-ax expert and their membership number at the Institute of Accounting professionals and Tax Experts, as well as the nature of their assignment.

Surname, first names, profession and address	Membership number	Nature of the assignment (A, B, C and/or D)

Strike out what does not apply.

Optional mention.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Notes	Codes	Period	Preceding period
ASSETS
FORMATION EXPENSES	6.1	20
FIXED ASSETS		21/28	96.953.759,58	106.276.982,50
Intangible fixed assets	6.2	21	11.845.330,87	14.672.518.08
Tangible fixed assets	6.3	22/27	15.875.106.10	18.820.200.17
Land and buildings		22	11.891.135,15	12.614.237,46
Plant, machinery and equipment -----------------------------------------------------------------------------------------------------------------------------------------------		23	2.553.115.71	3.910.866.09
Furniture and vehicles		24	1.373.877,09	1.962.888.11
Leasing and other similar rights		25
Other tangible fixed assets		26	56.978.15	56.978,15
Assets under construction and advance payments		27		275.230.36
Financial fixed assets	6.4 / 6.5.1	28	69.233.322,61	72.784.264,25
Affiliated Companies	6.15	280/1	58.475.309,65	58.478.959,71
Participating interests		280	58.475.309.65	58.478.959,71
Amounts receivable		281
Other companies linked by participating interests	6.15	282/3	10.505.309.12	14.022.166,69
Participating interests		282	10.505.309,12	14.022.166,69
Amounts receivable		283
Other financial fixed assets		284/8	252.703.84	283.137.85
Shares		284
Amounts receivable and cash guarantees		285/8	252.703.84	283.137.85

	Notes	Codes	Period	Preceding period

CURRENT ASSETS		29/58	104.585.853,33	104.419.824.05
Amounts receivable after more than one year		29	1.306.076,56	2.700.592,34
Trade debtors		290	93.987,38	48.859,82
Other amounts receivable		291	1.212.089.18	2.651.732,52
Stocks and contracts in progress		3	38.821.038,88	34.909.228.69
Stocks		30/36	38.821.038,88	34.909.228,69
Raw materials and consumables		30/31	9.790.575,32	7.852.906.76
Work in progress		32	11.406.271,54	8.936.670,28
Finished goods		33	17.624.192.02	18.119.651.65
Goods purchased for resale		34
Immovable property intended for sale		35
Advance payments		36
Contracts in progress		37
Amounts receivable within one year		40/41	15.710.827,00	26.672.630,73
Trade debtors		40	11.893.194,97	20.646.496,86
Other amounts receivable		41	3.817.632,03	6.026.133,87
Current investments	6.5.1 / 6.6	50/53	1.932.488,26	427.531,03
Own shares		50	1.932.488,26	427.531,03
Other investments		51/53
Cash at bank and in hand		54/58	46.012.062,31	36.575.351,89
Accruals and deferred income	6.6	490/1	803.360,32	3.134.489,37
TOTAL ASSETS		20/58	201.539.612,91	210.696.806,55

C-c 3.2

	Notes	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY		10/15	150.061.553,24	165.165.332,76
Contributions	6.7.1	10/11	2.679.596,30	2.679.596,30
Capital		10	1.936.173,73	1.936.173,73
Issued capital		100	1.936.173,73	1.936.173,73
Uncalled capital 4		101
Beyond capital		11	743.422,57	743.422,57
Share premium account		1100/10	743.422,57	743.422,57
Other		1109/19
Revaluation surpluses		12
Reserves		13	133.862.468,54	148.952.461,94
Reserves not available		130/1	2.126.105,58	621.148,33
Legal reserve		130	193.617,30	193.617.30
Reserves not available statutorily		1311
Purchase of own shares		1312	1.932.488,28	427.531,03
Financial support		1313
Other		1319
Untaxed reserves		132
Available reserves		133	131.736.362,96	148.331.313,61
Accumulated profits (losses)		14	13.153.274,52	13.153.274,52
Capital subsidies		15	366.213,88	380.000,00
Advance to shareholders on the distribution of net assets 5		19
PROVISIONS AND DEFERRED TAXES		16	156.000,00	228.000,00
Provisions for liabilities and charges		160/5	156.000,00	228.000,00
Pensions and similar obligations		160
Taxes		161
Major repairs and maintenance		162
Environmental obligations		163
Other liabilities and charges	6.8	164/5	156.000,00	228.000,00
Deferred taxes		168

⁴ Amount to be deducted from the issued capital.

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

	Notes	Codes	Period	Preceding period
AMOUNTS PAYABLE		17/49	51.322.059,67	45.303.473,79
Amounts payable after more than one year	6.9	17
Financial debts		170/4
Subordinated loans		170
Unsubordinated debentures ««««»»»»»»»»»»»»»»»»		171
Leasing and other similar obligations		172
Credit institutions		173
Other loans		174
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advance payments on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year	8.9	42/48	50.764.218.15	44.812.516,97
Current portion of amounts payable after more than one year falling due within one year		42
Financial debts		43
Credit institutions		430/8
Other loans		439
Trade debts		44	30.206.583,60	33.658.976,59
Suppliers		440/4	30.206.583,60	33.658.976,59
Bills of exchange payable		441
Advance payments on contracts in progress		46
Taxes, remuneration and social security	6.9	45	5.919.961,53	9.864.865,71
Taxes		450/3	1.277.313,60	3.989.325,43
Remuneration and social security		454/9	4.642.647,93	5.875.540,28
Other amounts payable		47/48	14.637.673,02	1.288.674,67
Accruals and deferred income	6.9	492/3	557.841,52	490.956,82
TOTAL LIABILITIES		10/49	201.539.612,91	210.696.806,55

PROFIT AND LOSS ACCOUNT

	Notes	Codes	Period	Preceding period
Operating income		70/76A	150.936.502,85	180.758.460,32
Turnover	6.10	70	145.364.749.21	181.485.377,25
Stocks of finished goods and work and contracts in progress: increase (decrease) (+)(-)		71	1.948.385,29	-5.120.983.31
Produced fixed assets		72
Other operating income	6.10	74	3.487.940,75	4.329.294.63
Non-recurring operating income	6.12	76A	135.427.60	64.771.75
Operating charges		60/66A	142.531.231,34	161.005.728,66
Goods for resale, raw materials and consumables		60	30.479.101.09	31.665.571.82
Purchases		600/8	31.747.633,33	28.839.727,22
Stocks: decrease (increase)		609	-1.268.532.24	2.825.844.60
Services and other goods		61	77.930.049.88	88.242.210,04
Remuneration, social security and pensions (+)(-)	6.10	62	26.217.683,86	30.989.655,20
Amortisations of and other amounts written down on formation expenses, intangible and tangible fixed assets		630	8.222.268,82	8.262.295,70
Amounts written down on stocks, contracts in progress and trade debtors: additions (write-backs) (+)(-)	6.10	631/4	-593.982,66	1.700.593,00
Provisions for liabilities and charges: appropriations (uses and write-backs)	6.10	635/8	-72.000.00	-162.000,00
Other operating charges	6.10	640/8	331.362.47	302.232,63
Operating charges reported as assets under restructuring costs		649
Non-recurring operating charges	6.12	66A	16.747,88	5.170.27
Operating profit (loss)		9901	8.405.271.51	19.752.731.66

	Notes	Codes	Period	Preceding period
Financial income		75/76B	11.319.453,31	13.231.634,89
Recurring financial income		75	11.078.470.75	13.231.634,89
Income from financial fixed assets		750	9.259.380,99	10.950.667,28
Income from current assets		751	28.163,05	48.927.19
Other financial income	6.11	752/9	1.790.926,71	2.232.040,42
Non-recurring financial income	6.12	768	240.982,56
Financial charges	6.11	65/66B	7.967.408,94	16.287.165,76
Recurring financial charges		65	4.450.551,37	5.763.974.43
Debt charges		650	206.580,92	99.901,61
Amounts written down on current assets other than stocks, contracts in progress and trade debtors: additions (write-backs)		651
Other financial charges		652/9	4.243.970,45	5.664.072,82
Non-recurring financial charges	6.12	66 B	3.516.857,57	10.523.191,33
Profit {Loss} for the period before taxes (+)(-)		9903	11.757.315.88	16.697.200,79
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes on the result(+)(-)	6.13	67/77	230.349,28	3.543.926,27
Taxes		670/3	245.211,43	3.543.926,27
Adjustment of income taxes and write-back of tax provisions		77	14.862,15
Profit (Loss) of the period		9904	11.526.966,60	13.153.274,52
Transfer from untaxed reserves		789
Transfer to untaxed reserves		889
Profit (Loss) of the period available for appropriation		agos	11.526.966,60	13.153.274,52

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (Loss) to be appropriated	9906	24.680.241,12	13.153.274,52
Profit (Loss) of the period available for appropriation (+)/(-)	(9905)	11.526.966.60	13.153.274.52
Profit (Loss) of the preceding period brought forward	14P	13.153.274,52
Transfers from equity	791/2	15.089.993.40
from contributions	791
from reserves	792	15.089.993.40
Appropriations to equity	691/2
to contributions	691
to legal reserve	6920
to other reserves	6921
Profit (loss) to be carried forward	(14)	13.153.274.52	13.153.274,52
Shareholders' contribution in respect of losses	794
Profit to be distributed '	694/7	26.616.960.00
Compensation for contributions	694	26.616.960.00
Directors or managers	695
Employees	696
Other beneficiaries	697

	Codes	Period	Preceding period
CONCESSIONS, PATENTS LICENSES, KNOW-HOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXX	45.891.230,12
Movements during the period
Acquisitions, including produced fixed assets		1.620.671,11
Sales and disposals	1 8032
Transters from one heading to another	8042	282.128,37
Acquisition value at the end of the period	80552	47.794.029,60
Amortisations and amounts written down at the end of the period 8122P		XXXXXXXXXXXXXXXXXXXX	32.008.040.73
Movements during the period
Recorded		4.265.458.00
Written back	1 8082
Acquisitions from third parties	1 8092
Cancelled owing to sales and disposals	8102
Transfers from one heading to another	8112
Amortisations and amounts written down at the end of the period 8122		36.273.498.73
NET BOOK VALUE AT THE END OF THE PERIOD		11.520.530,87

Nº 0448.746.744

	Codes	Period	Preceding period
GOODWILL

Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXXX	2.496.883.75
Movements during the period
Acquisitions, including produced fixed assets
Sales and disposals	1 8033
Transfers from one heading to another	8043
Acquisition value at the end of the period		2.496.883.75
Amortisations and amounts written down at the end of the period 8123P		XXXXXXXXXXXXXXXXXXXX	1.707.555,06
Movements during the period
Recorded		464.528.69
Written back	8083
Acquisitions from third parties
Cancelled owing to sales and disposals	8103
Transferred from one heading to another	8113
Amortisations and amounts written down at the end of the period	8123	2.172.083,75
NET BOOK VALUE AT THE END OF THE PERIOD		324.800.00

STATEMENT OF TANGIBLE FIXED ASSETS

	Codes	Period	Preceding period

LAND AND BUILDINGS
Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXXX	31.892.911,67
Movements during the period
Acquisitions, including produced fixed assets		541.316.04
Sales and disposals	8171
Transfers from one heading to another	8181
Acquisition value at the end of the period	8191	32.434.227,71
Revaluation surpluses at the end of the period	8251P	XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Movements during the period
Recorded	8211
Acquisitions from third parties	8221
Cancelled	8231
Transferred from one heading to another	8241
Revaluation surpluses at the end of the period
Amortisations and amounts written down at the end of the period 8321P		XXXXXXXXXXXXXXXXXXX	19.278.674.21
Movements during the period
Recorded		1.264.418,35
Written back	8281
Acquisitions from third parties	8291
Cancelled owing to sales and disposals	8301
Transferred from one heading to another	8311
Amortisations and amounts written down at the end of the period 8321		20.543.092,56
NET BOOK VALUE AT THE END OF THE PERIOD		11.891.135,15

	Codes	Period	Preceding period
PLANT, MACHINERY AND EQUIPMENT


Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXXX	35.457.400,89
Movements during the period
Acquisitions, including produced fixed assets		336.904.43
Sales and disposals	8172
Transfers from one heading to another	8182
Acquisition value at the end of the period		35.794.305,32
Revaluation surpluses at the end of the period		XXXXXXXXXXXXXXXXXX
Movements during the period
Recorded	8212
Acquisitions from third parties	8222
Cancelled	8232
Transferred from one heading to another (+)(-) {-) {-> {-> {-> {-> {-> {-> {-> {-> {-> {-> {-> {-> {-> }(-> }(-> }(-> }(-	8242
Revaluation surpluses at the end of the period
Amortisations and amounts written down at the end of the period 8322P		XXXXXXXXXXXXXXXXXXXX	31.546.534,80
Movements during the period
Recorded		1.694.654,81
Written back	8282
Acquisitions from third parties
Cancelled owing to sales and disposals	8302
Transferred from one heading to another (+)(-) (-	8312
Amortisations and amounts written down at the end of the period 8322		33.241.189,61
NET BOOK VALUE AT THE END OF THE PERIOD		2.553.115,71

	Codes	Period	Preceding period

FURNITURE AND VEHICLES
Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXXXX	6.257.438,18
Movements during the period
Acquisitions, including produced fixed assets	8163	22.048,21
Sales and disposals	8173	565.831,78
Transfers from one heading to another	8183
Acquisition value at the end of the period		5.713.654,61
Revaluation surpluses at the end of the period		XXXXXXXXXXXXXXXXXXX
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.	1 8253
Amortisations and amounts written down at the end of the period 8323P		XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX	4.294.550.07
Movements during the period
Recorded .	8273	533.208,97
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303	487.981.52
Transfers from one heading to another	8313
Amortisations and amounts written down at the end of the period	8323	4.339.777,52
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	1.373.877,09

	Codes	Period	Preceding period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX	76.477.81
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	76.477,81
Revaluation surpluses at the end of the period	8255P	XXXXXXXXXXXXXXXXXXXX
Movements during the period
Recorded	18215
Acquisitions from third parties	8225
Cancelled	8235
Transferred from one heading to another
Revaluation surpluses at the end of the period
Amortisations and amounts written down at the end of the period 8325P		XXXXXXXXXXXXXXX	19.499,66
Movements during the period
Recorded
Written back	8285
Acquisitions from third parties
Cancelled owing to sales and disposals	8305
Transferred from one heading to another
Amortisations and amounts written down at the end of the period 8325		19.499,66
NET BOOK VALUE AT THE END OF THE PERIOD		56.978.15

	Codes	Period	Preceding period
ASSETS UNDER CONSTRUCTION AND ADVANCE PAYMENTS


Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX	275.230,36
Movements during the period
Acquisitions, including produced fixed assets		6.898,01
Sales and disposals	1 8176
Transfers from one heading to another	8186	-282.128,37
Acquisition value at the end of the period
Revaluation surpluses at the end of the period 8256P		XXXXXXXXXXXXXXXXXXX
Movements during the period
Recorded	1 8216
Acquisitions from third parties	8226
Cancelled	8236
Transferred from one heading to another
Revaluation surpluses at the end of the period
Amortisations and amounts written down at the end of the period 8326P		XXXXXXXXXXXXXXXXXXXXX
Movements during the period
Recorded	8276
Written back	8286
Acquisitions from third parties	1 8296
Cancelled owing to sales and disposals	8306
Transferred from one heading to another	8316
Amortisations and amounts written down at the end of the period	8326
NET BOOK VALUE AT THE END OF THE PERIOD

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Preceding period
AFFILIATED COMPANIES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXX	8.349.578,59
Movements during the period
Acquisitions	1 8361
Sales and disposals	8371
Transfers from one heading to another	8381
Acquisition value at the end of the period	1 8391	8.349.578,59
Revaluation surpluses at the end of the period		XXXXXXXXXXXXXXXXXXXX	67.148.000,00
Movements during the period
Recorded	8411
Acquisitions from third parties	8421
Cancelled	8431
Transferred from one heading to another	8441
Revaluation surpluses at the end of the period	8451	67.148.000,00
Amounts written down at the end of the period		XXXXXXXXXXXXXXXXXXXX	17.018.618,88
Movements during the period
Recorded	8471
Written back	8481
Acquisitions from third parties	8491	3.650,06
Cancelled owing to sales and disposals	8501
Transferred from one heading to another	8511
Amounts written down at the end of the period 8521		17.022.268,94
Uncalled amounts at the end of the period		XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Movements during the period
Uncalled amounts at the end of the period
NET BOOK VALUE AT THE END OF THE PERIOD		58.475.309,65
AFFILIATED COMPANIES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD		XXXXXXXXXXXXXXXXXXXX
Movements during the period
Appropriations
Repayments	1 8591
Amounts written down	18601
Amounts written back	18611
Exchange differences
Other movements	8631
NET BOOK VALUE AT THE END OF THE PERIOD
ACCUMULATED AMOUNTS WRITTEN DOWN ON AMOUNTS RECEIVABLE AT END OF THE PERIOD	8651

	Codes	Period	Preceding period

COMPANIES LINKED BY PARTICIPATING INTERESTS - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXX	25.446.148,69
Movements during the period
Acquisitions
Sales and disposals	8372
Transfers from one heading to another (+)(-)	8382
Acquisition value at the end of the period		25.446.148.69
Revaluation surpluses at the end of the period 8452P		XXXXXXXXXXXXXXXXXXXX
Movements during the period
Recorded	8412
Acquisitions from third parties	8422
Cancelled	8432
Transferred from one heading to another	8442
Revaluation surpluses at the end of the period

Amounts written down at the end of the period		XXXXXXXXXXXXXXXXXX	11.423.982,00
Movements during the period
Recorded		3.516.857,57
Written back	8482
Acquisitions from third parties
Cancelled owing to sales and disposals	8502
Transferred from one heading to another
Amounts written down at the end of the period		14.940.839,57
Uncalled amounts at the end of the period		XXXXXXXXXXXXXXXXXXXXX
Movements during the period	8542
Uncalled amounts at the end of the period	8552
NET BOOK VALUE AT THE END OF THE PERIOD		10.505.309,12
COMPANIES LINKED BY PARTICIPATING INTERESTS - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	283P	XXXXXXXXXXXXXXXXXXX
Movements during the period
Appropriations
Repayments
Amounts written down	8602
Amounts written back	8612
Exchange differences	8622
Other movements	8632
NET BOOK VALUE AT THE END OF THE PERIOD
ACCUMULATED AMOUNTS WRITTEN DOWN ON AMOUNTS RECEIVABLE AT END OF THE PERIOD	8652

	Codes	Period	Preceding period
OTHER COMPANIES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period		XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Movements during the period
Acquisitions
Sales and disposals	1 8373
Transfers from one heading to another	8383
Acquisition value at the end of the period	1 8393
Revaluation surpluses at the end of the period		XXXXXXXXXXXXXXXXXXXXX
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transferred from one heading to another
Revaluation surpluses at the end of the period
Amounts written down at the end of the period		XXXXXXXXXXXXXXXXXXX
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8203
Transferred from one heading to another
Amounts written down at the end of the period
Uncalled amounts at the end of the period		XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Movements during the period
Uncalled amounts at the end of the period	8553
NET BOOK VALUE AT THE END OF THE PERIOD
OTHER COMPANIES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD		XXXXXXXXXXXXXXXXXXXX	283.137,85
Movements during the period
Appropriations
Repayments		30.434,01
Amounts written down	1 8603
Amounts written back
Exchange differences
Other movements
NET BOOK VALUE AT THE END OF THE PERIOD		252.703,84
ACCUMULATED AMOUNTS WRITTEN DOWN ON AMOUNTS RECEIVABLE AT END OF THE PERIOD

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND OTHER RIGHTS IN OTHER COMPANIES

The following list mentions the company holds a participating interest (recorded in headings 280 and 282 of assets), as well as the companies in which the company holds rights (recorded in headings 284 and 51/53 of assets) for an amount of at least 10% of the capital, the equity or a class of shares of the company.

NAME, full address of the REGISTERED		Data extracted from the most recent annual accounts Rights held
OFFICE and, for an entity governed by Belgian law, the COMPANY	Directly		Subs- idiaries	Annual	Equity Cur-		Net result
REGISTRATION NUMBER	Nature	Number	%	0/0	accounts as per	rency code	(+) or (-) (in units)
VAN DE VELDE GMBH & CO KG FC BLUMENSTRASSE 24 40212 DUSSELDORF Germany					31/12/2020	EUR	1,785,128	159.492
VAN DE VELDE VERWALTUNGS GMBH FC BLUMENSTRASSE 24 40212 DUSSELDORF Germany	Aandeel	100	100,00	0.00	31/12/2020	EUR	44.839	-116
VAN DE VELDE TERMELO ES KERESKEDELMI KFT FC SELYEM U. 4 7100 SZEKSZARD Hungary	Aandeel		100,00	0,00	31/12/2020	HUF	253.295.913	8.742.712
VAN DE VELDE UK Ltd FC Cannan Place, Cannon Street 78 EC4N6AF LONDON United Kingdom	Aandeel		100,00	0,00	31/12/2020	GBP	422 127	26.755
MARIE JO GMBH FC BLUMENSTRASSE 24 40212 DUSSELDORF Germany	Aandeel		100,00	0,00	31/12/2020	EUR	2.738.404	92 991
VAN DE VELDE IBERICA SL FC CALLE SANTA EULALIA 5 08012 BARCELONA Spain	Aandeel		100,00	0,00	31/12/2020	EUR	6,219,718	490.782
VAN DE VELDE NORTH AMERICA INC FC FIFTH AVENUE 104 NY10011 NEW YORK United States of America	Aandeel	40.200	100,00	0,00	31/12/2020	USD	1-165.063	319 309
	Aandeel	100	100,00	0,00

PARTICIPATING INTERESTS AND OTHER RIGHTS IN OTHER COMPANIES

NAME, full address of the REGISTERED		Rights held			Data extracted from the most recent annual accounts
OFFICE and, for an entity governed by Belgian law, the COMPANY	Directly		Subs- idiaries	Annual	Cur-	Equity	Net result
REGISTRATION NUMBER	Nature	Number	0/0	0/0	accounts as per	rency code		(+) or (-) (in units)
VAN DE VELDE FINLAND OY FC YLIOPISTONKATU 34 , box 4 20100 TURKU Finland					31/12/2020	EUR	115,750	19.827
	Aandeel	800	100,00	0,00
VAN DE VELDE DENMARK APS FC LEJRVEJ 8 6330 PADBORG Denmark					31/12/2020	DKK	5.721.430	654.345
	Aandeel	125	100,00	0,00
TOP FORM INTERNATIONAL LIMITED FC					30/06/2020	HKD	448 670.000	-77.526.000
15/F. TOWER A MANULIFE FIN. CENTRE WAI YIP STR 223 , box 231 KWIN TONG, KOWLOON Hong Kong
	Aandeel	55,184,708	25,66	0,00
RIGBY & PELLER LTD FC CONDUIT STREET FIRST FLOOR 22 W1S2XR LONDEN United Kingdom					31/12/2020	GBP	2.412.638	68.910
	Aandeel	2.175	100,00	0,00
VAN DE VELDE CONFECTION SARL FC ROUTE DE SOUSSE 25 4020 KONDAR Tunisia					31/12/2020	TND	34 519 853	34.464.852
	Aandeel	5,000	89,98	0,02
INTIMACY MANAGEMENT COMPANY LLC FC FIFTH AVENUE 104 10011 NY NEW YORK United States of America					31/12/2020	USD	1-867-894	-106 681
	Aandeel	1.000	0,001	100,00
VAN DE VELDE RETAIL INC FC FIFTH AVENUE 104 NY10011 NEW YORK United States of America					31/12/2020	USD	11,915,609	20.542
	Aandeel	1.000	100,00	0,00

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND OTHER RIGHTS IN OTHER COMPANIES

NAME, full address of the REGISTERED	Rights held				Data extracted from the most recent annual accounts
OFFICE and, for an entity governed by Belgian law, the COMPANY REGISTRATION NUMBER	Nature	Directly		Subs- idiaries	Annual	Cur-	Equity	Net result
		Number	%	0/0	accounts as per	rency code	(+) or (-) (in units)
VAN DE VELDE NEDERLAND BV FC BEETHOVENSTRAAT 28 1077 JH AMSTERDAM Netherlands 820025367B01					31/12/2020	EUR	3.187.723	175 195
@MY HOME LINGERIE STYLING GMBH FC BLUMMENSTRASSE 24 40212 DUSSELDORF Germany	Aandeel	0000000	100.00	0,00	31/12/2020	EUR	-1.304 468	-4.152
	Aandeel	25 000	100,00	0,00

STATEMENT OF CAPITAL AND SHAREHOLDERS' STURCTURE

STATEMENT OF CAPITAL	Codes	Period	Preceding period

Capital
Issued capital at the end of the period		XXXXXXXXXXXXXXXXXXX	1.936.173,73
Issued capital at the end of the period	(100)	1.936.173,73

	Codes	Period	Number of shares
Modifications during the period
Composition of the capital Share types
Gewone aandelen		1.936.173,73	13.322.480
Registered shares	8702	XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX	7.627.208
Shares dematerialized	8703	XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX	5.695.272

	Codes		Uncalled amount
Unpaid capital
Uncalled capital	(101)		XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Called up capital, unpaid		XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Shareholders that still need to pay up in full

	Codes	Period
Own shares
Held by the company itself
Amount of capital held		1.932.488,21
Number of shares	18722	77.183
Held by a subsidiary
Amount of capital held	8731
Number of shares	8732
Commitments to issuing shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans
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
Amount of capital to be subscribed	8746
Corresponding maximum number of shares to be issued	8747
Authorised capital not issued		1.936.173,73

C-c 6.7.1

	Codes	Period
Shares issued, non-representing capital
Distribution
Number of shares
Number of voting rights attached thereto
Allocation by shareholder
Number of shares held by the company itself
Number of shares held by its subsidiaries

ADDITIONAL NOTES REGARDING CONTRIBUTIONS (INCLUDING CONTRIBUTIONS IN THE FORM OF
SERVICES OR KNOW-HOW)

	Period

SHAREHOLDERS' STRUCTURE OF THE COMPANY AT YEAR-END CLOSING DATE

As reflected in the notifications received by the company pursuant to article 7:225 of the Belgian Companies and Associations Code, article 14 fourth paragraph of the law of 2 May 2007 on the publication of major holdings and article 5 of the Royal Decree of 21 August 2008 on further rules for certain multilateral trading facilities.

	Rights held
NAME of the persons who hold rights of the company, together with the ADDRESS (of the registered office, in the case of a legal person) and the		Number of voting rights
COMPANY REGISTRATION NUMBER, in the case of an company governed by Belgian law	Nature	Attached to securities	Not attached to securities	10
Van de Velde Holding NV
Lageweg 4
9260 Schellebelle
Belgium
0461.297.752
	Op naam	7.496.250	0	56,27

STATEMENT OF AMOUNTS PAYABLE AND ACCRUALS AND DEFERRED INCOME (LIABILITIES)

	Codes	Period
BREAKDOWN OF AMOUNTS PAYABLE WITH AN ORIGINAL TERM OF MORE THAN ONE YEAR, ACCORDING TO THEIR RESIDUAL MATURITY
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	18831
Credit institutions	8841
Other loans	8851
Trade debts	8861
Suppliers	8871
Bills of exchange payable
Advance payments on contracts in progress
Other amounts payable
Total current portion of amounts payable after more than one year falling due within one year	(42)
Amounts payable with a remaining term of more than one year, yet less than 5 years
Financial debts	8802
Subordinated loans	8812
Unsubordinated debentures	8822
Leasing and other similar obligations	8832
Credit institutions	8842
Other loans	8852
Trade debts	8862
Suppliers	8872
Bills of exchange payable	8882
Advance payments on contracts in progress	8892
Other amounts payable	8902
Total amounts payable with a remaining term of more than one year, yet less than 5 years 8912 Amounts payable with a remaining term of more than 5 years
Financial debts
Subordinated loans	8813
Unsubordinated debentures	8823
Leasing and other similar obligations	8833
Credit institutions	8843
Other loans	8853
Trade debts	8863
Suppliers	8873
Bills of exchange payable	8883
Advance payments on contracts in progress
Other amounts payable	8803
Amounts payable with a remaining term of more than 5 years

	Codes	Period
AMOUNTS PAYABLE GUARANTEED (included in accounts 17 and 42/48 of liabilities)
Amounts payable guaranteed by the Belgian government agencies
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 on contracts in progress
Remuneration and social security	9021
Other amounts payable	9051
Total of the amounts payable guaranteed by the Belgian government agencies	9061
Amounts payable guaranteed by real securities given or irrevocably promised by the company 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
Advance payments on contracts in progress
Taxes, remuneration and social security	9022
Taxes	9032
Remuneration and social security	9042
Other amounts payable	9052
Total amounts payable guaranteed by real securities given or irrevocably promised by the company on its own assets	9062

	Codes	Period
TAXES. REMUNERATION AND SOCIAL SECURITY
Taxes(headings 450/3 and 178/9 of liabilities)
Outstanding tax debts	9072
Accruing taxes payable		1.277.313.60
Estimated taxes payable	1 450
Remuneration and social security (headings 454/9 and 178/9 of liabilities)
Amounts due to the National Social Security Office
Other amounts payable in respect of remuneration and social security		4.642.647.93

ACCRUALS AND DEFERRED INCOME

Allocation of heading 492/3 of liabilities if the amount is significant

Period

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Net turnover
Allocation by categories of activity
Verkoop van dameslingerie en gerelateerde diensten		150.936.502.85	180.758.460,32
Allocation by geographical market
Eurozone		114.227.493,96	134.635.729,75
Niet-eurozone		36.709.008,89	46.122.730,57
Other operating income
Operating subsidies and compensatory amounts received from public authorities	740
OPERATING CHARGES
Employees for whom the company submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086 1	499	538
Average number of employees calculated in full-time equivalents	9087	483.7	526,7
Number of actual hours worked	00888	587.984	696.031
Personnel costs
Remuneration and direct social benefits	1 620	18.627.382,78	22.111.192,10
Employers' contribution for social security	621	5.685.362,67	6.441.018,56
Employers' premiums for extra statutory insurance	1 622	876.568,99	1.002.293,02
Other personnel costs	1 623	1.028.369,42	1.435.151,52
Retirement and survivors' pensions	1 624

	Codes	Period	Preceding period
Provisions for pensions and similar obligations
Appropriations (uses and write-backs)
Depreciations
On stock and contracts in progress
Recorded	19110		1.911.890,00
Written back	9111	694.892,66
On trade debtors
Recorded	9112	100.910,00
Written back	8113		211.297,00
Provisions for liabilities and charges
Appropriations	0115
Uses and write-backs	19116	72.000,00	162.000.00
Other operating charges
Taxes related to operation	640	331.362,47	302.232,63
Other	641/8
Hired temporary staff and personnel placed at the company's disposal
Total number at the closing date	1 9096
Average number calculated in full-time equivalents	9097	6.7	17,5
Number of actual hours worked	80088	13.017	33.919
Costs to the company	617	281.061,07	902.354.71

N°. 0448.746.744

FINANCIAL RESULTS

	Codes	Period	Preceding period

RECURRING FINANCIAL INCOME
Other financial income
Subsidies paid by public authorities, added to the profit and loss account
Capital subsidies
Interest subsidies	19126
Allocation of other financial income
Exchange differences realized
Other
Wisselresultaten		1.196.888,28	1.595.628,21
Financiële kortingen		594.038,43	636.411,21

RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses
Capitalised interests
Depreciations on current assets
Recorded	6510
Written back	6511
Other financial charges
Amount of the discount borne by the company, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations
Uses and write-backs	8561
Allocation of other financial costs
Exchange differences realized
Results from the conversion of foreign currencies	655
Other
Wisselresultaten		1.345.840,37	1.746.139,06
Financiële kortingen		2.713.602,21	3.609.202,21
Overige financiële kosten		184.527,87	308.731,55

INCOME AND CHARGES OF EXCEPTIONAL SIZE OR FREQUENCY

	Codes	Period	Preceding period

NON-RECURRING INCOME	76	376.410,16	64.771.75
Non-recurring operating income	(76A)	135.427,60	64.771,75
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 profits on disposal of intangible and tangible fixed assets	7630	135.427,60	64.771.75
Other non-recurring operating income	764/8
Non-recurring financial income	(76B)	240.982,56
Write-back of amounts written down financial fixed assets	761
Write-back of provisions for extraordinary financial liabilities and charges	7621
Capital profits on disposal of financial fixed assets	7631
Other non-recurring financial income	769	240.982,56

NON-RECURRING CHARGES	દિવ	3.533.605,45	10.528.361,60
Non-recurring operating charges	(66A)	16.747,88	5.170,27
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660
Provisions for extraordinary operating liabilities and charges: appropriations (uses)	6620
Capital losses on disposal of intangible and tangible fixed assets	6630 -	16.747,88	5.170.27
Other non-recurring operating charges	664/7
Non-recurring operating charges carried to assets as restructuring COSIS	6690
Non-recurring financial charges	(66B)	3.516.857.57	10.523.191,33
Amounts written off financial fixed assets	661	3.516.857,57	7.692.500,00
Provisions for extraordinary financial liabilities and charges - appropriations (uses)	6621
Capital losses on disposal of financial fixed assets	6631		1.923.468,90
Other non-recurring financial charges	668		907.222.43
Non-recurring financial charges carried to assets as restructuring COS (S	6691

Period

TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period		16.124,10
Income taxes paid and withholding taxes due or paid		16.124.10
Excess of income tax prepayments and withholding taxes paid recorded under assets	19136
Estimated additional taxes
Income taxes on the result of prior periods	19138	229.087,33
Additional income taxes due or paid		229.087,33
Additional income taxes estimated or provided for womanning would moment on annually would be 19140
Major reasons for the differences between pre-tax profit, as it results from the annual accounts, and estimated taxable profit
Verworpen uitgaven		3.549.000,00
DBI Aftrek		-9.259.000.00
Andere		-6.707.000,00

Influence of non-recurring results on income taxes on the result of the period

	Codes	Period
Sources of deferred taxes
Deferred taxes representing assets
Accumulated tax losses deductible from future taxable profits
Deferred taxes representing liabilities
Allocation of deferred taxes representing liabilities

	Period	Preceding period
VALUE-ADDED TAXES AND TAXES BORNE BY THIRD PARTIES
Value-added taxes charged
To the company (deductible)	20.085.051.22	20.557.108.99
By the company	20.292.107.87	22.154.414.29
Amounts withheld on behalf of third party by way of
Payroll withholding taxes	3.633.565.31	4.011.107,42
Withholding taxes on investment income	1.661.752.95	1.712.801,69

Nº. 0448.746.744

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

	Codes	Period
PERSONAL GUARANTEES PROVIDED OR IRREVOCABLY PROMISED BY THE COMPANY AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES
Of which
Bills of exchange in circulation endorsed by the company
Bills of exchange in circulation drawn or guaranteed by the company	19151
Maximum amount for which other debts or commitments of third parties are guaranteed by the COMPANY	1 8153
REAL GUARANTEES
Real guarantees provided or irrevocably promised by the company on its own assets as security of debts and commitments of the company Mortgages
Book value of the immovable properties mortgaged
Amount of registration	191621
For irrevocable mortgage mandates, the amount for which the agent can take registration
Pledging of goodwill
Maximum amount up to which the debt is secured and which is the subject of registration	91711
For irrevocable mandates to pledge goodwill, the amount for which the agent can take the İNSCİÇİON	191721
Pledging of other assets or irrevocable mandates to pledge other assets
Book value of the immovable properties mortgaged
Maximum amount up to which the debt is secured
Guarantees provided or irrevocably promised on future assets
Amount of assets in question
Maximum amount up to which the debt is secured	191921
Vendor's privilege
Book value of sold goods	92011
Amount of the unpaid price

C-c 6.14

	Codes	Period
Real guarantees provided or irrevocably promised by the company on its own assets as security of debts and commitments of third parties
Mortgages
Book value of the immovable properties mortgaged
Amount of registration
For irrevocable mortgage mandates, the amount for which the agent can take registration
Pledging of goodwill
Maximum amount up to which the debt is secured and which is the subject of registration 91712
For irrevocable mandates to pledge goodwill, the amount for which the agent can take the Inscription
Pledging of other assets or irrevocable mandates to pledge other assets
Book value of the immovable properties mortgaged
Maximum amount up to which the debt is secured
Guarantees provided or irrevocably promised on future assets
Amount of assets in question
Maximum amount up to which the debt is secured
Vendor's privilege
Book value of sold goods
Amount of the unpaid price

	Codes	Period

GOODS AND VALUES, NOT REFLECTED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN THEIR OWN NAME BUT FOR THE BENEFIT AND AT THE RISK OF THE COMPANY
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)
Goods sold (to be delivered)
Currencies purchased (to be received)		2.419.013,00
Currencies sold (to be delivered)		1.888.023.00

COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

Period

AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS

C-c 6.14
1	Period

SETTLEMENT REGARDING THE COMPLEMENT OR SURVIVORS' PENSION FOR PERSONNEL AND BOARD MEMBERS

Brief description

DriainoolCovooliaboic

Van de Velde heeft vijf toegezegde pensioen in België. Deze plannen worden op gecumuleerde basis toegelicht, daar deze zich situeren in eenzelfde geografische locatie en van hetzelfde type zijn, nl. toegezegde bijdrageregelingen.

Naast de Belgische pensioenregelingen heeft Van de Velde eveneens pensioenregelingen voor hun personeel in het buitenland. Deze persioenregelingen zijn toegezegelingen. Deze persioenprovisie op balans bedraagt 24 duizend euro voor 2020 (26 duzend euro voor 2019).

De pensioenregeling in Belgische wateering en betreft een groepsverzekering met rendementswaarborg (Tak21). Vanaf boekjaar 2016 wordt de pensioenregeling geboekt als een toegezegde pensioenregeling ten gevolge van een aanpassing in de Belgische wetgeving. De eerste actuariële waardering vond plaats op 30 juni 2016. De resulterende verplichting werd in de half jaarlijkse financiële staten geboekt tegenover niet-gerealiseer aangezien dit aanzien wordt als een wijziging in veronderstellingen. Een tweede actuariële waardering vond plaats op 31 december wordt er jaarlijks op 31 december een actuariële waardering opgemaakt.

De pensioenregeling in België is gefinancierd. Indien de toegekeraar lager zijn dan de wettelijk bepaalde minimumgarantie, wordt dit door de verkgever gemeld. Deze laatste kan dan dit tekort aanzuiveren in zijn financieringsfonds bij de verzekeraar.

De voornaamste actuariële veronderstellingen gebruikt in de waardering van de pensioenplannen worden weergegeven in onderstaande tabel:

20120	2011:
1.93%	1.00%
1.90%	1.90%
0.45%	1.00%
65	65
991	1.113
43,89	42.83
17,73	17.79

Een analyse van de verwachte uitkeringen van de niet verdisconteerde pensioenbeloningen wordt weergegeven in onderstaande tabel: Verwachte uitkeringen

Binnen 12 maanden (boekjaar eindigend 31 december 2021)	102
Tussen 2 en 5 jaar	873
Tussen 5 jaar en 10 jaar	1.599
Totale verwachte uitkeringen	2.574

De contante waarde van pensioenverplichtingen hantal factoren die actuarieel worden bepaald op basis van een aantal veronderstellingen. De veronderstellingen die zijn et berekenen van de netto kosten (inkomsten) uit hoofde van pensioenen omvatten de verdisconteringsvoet. Veranderstellingen hebben invloed op de boekwaarde van de pensioenverplichtingen.

Van de Velde bepaalt de gepaste verdisconteringsvoet op het einde van elk jaar. Dit is de rentevoet dient te worden om de contante waarde van de geschatte toekomen, vereist om de pensioenverplichtingen te bepalen. Bij het bepalen van de geschikte verdisconteringsvoet neemt Van de Velde de rentevoet van hoogwaardige uitgedrukt in de valuta waarin de persioenen zullen worden betaald en met een looptijd die vergelijkbaar is met die van de overeenkomstige pensioenverplichting.

Andere belangrijke veronderstellingen, zoals de verwachte jaarlijkse groeivoet van salarissen en uittedekansen, zijn deels gebaseerd op de huidige marktomstandigheden en deels op bedrijfseigen parameters.

De tabel hieronder geeft de gevoeligheid weer van de verplichting uit hoofde van toegezegde pensioenrechten: Waarderingstrend -0.5%

OrigineelWaarderingstrend +0,5%
Verdisconteringsvoet -0,05% 0,45% 0,45%
Verplichting uit hoofde toegezegde pensioenrechten	13.174	12.307	11.037
Marktwaarde fondsbeleggingen	10.971	10.082	9.282

De tabel hieronder geeft de gevoeligheid weer van de verplichting uit hoofde van toegezede pensioenten:

ഗ്വീനത്തിയത്തിന്റെ നിന്നും വ
Uittredes uit het planWerkgever Tabe 10,00%
Verplichting uit hoofde toegezegde pensioenrechten	12.307	13.121

De gevoeligheidsanalyse in bovenstaande tabellen is bepaald op basis van een methode die de impact op de verplichting uit hoofde van de toegezegde pensioenrechten weergeet, ten gevolge van redelijke veronderstellingen zich voordoend op het einde van de periode. Deze analyse is gebaseerd op een significante veronderstelling, die alle overige veronderstellingen constant houdt. De gevoeligheidsanalyse is mogelijke veranderingen in de veranderingen in de verplichtingen uit hoofde van de pensioenrechten omdat het onwaarschijnlijk is dat veronderstellingen zich in isolatie van elkaar zouden voordoen.

SETTLEMENT REGARDING THE COMPLEMENT OR SURVIVORS' PENSION FOR PERSONNEL AND BOARD MEMBERS

Brief description

Measures taken to cover the related charges

	Code	Period
PENSIONS FUNDED BY THE COMPANY ITSELF
Estimated amount of the commitments resulting from past services
Methods of estimation

NATURE AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE not reflected in the balance sheet or income statement

Period

Nº. 0448.746.744	C-c 6.14
	Period
COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR SALE OR PURCHASE
Inkoop eigen aandelen	1.932.488,28
	Period
NATURE, COMMERCIAL OBJECTIVE AND FINANCIAL CONSEQUENCES OF TRANSACTIONS NOT REFLECTED IN THE BALANCE SHEET
If the risks and benefits resulting from such transactions are of any meaning and if publishing such risks and benefits is necessary to appreciate the financial situation of the company

	Period
OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET (including those that cannot be calculated)

RELATIONSHIPS WITH AFFILIATED COMPANIES, ASSOCIATED COMPANIES AND OTHER COMPANIES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED COMPANIES
Financial fixed assets		58.475.309.65	58.478.959,71
Participating interests	(280)	58.475.309,65	58.478.959.71
Subordinated amounts receivable	9271
Other amounts receivable	9281
Amounts receivable	9291	2.581.966,27	7.704.576,66
Over one year		1.212.089,19	2.651.732,50
Within one year	9311	1.369.877,08	5.052.844.16
Current investments	9321
Shares	0331
Amounts receivable	9341
Amounts payable	1 9351	22.438.255.03	23.375.452,95
Over one year	19361
Within one year		22.438.255,03	23.375.452,95
Personal and real guarantees
Provided or irrevocably promised by the company as security for debts or commitments of affiliated companies	a381	1.475.206,00	1.777.022,95
Provided or irrevocably promised by affiliated companies as security for debts or commitments of the company	વેલું એક ગામના લોકોનો મુખ્ય વ્યવસાય ખેતી, ખેતમજૂરી તેમ જ પશુપાલન છે. આ ગામમાં મુખ્યત્વે ખેત
Other significant financial commitments	9401
Financial results
Income from financial fixed assets		9.259.380,99	10.950.667,28
Income from current assets	9431	26.165,83	16.599,21
Other financial income	9441
Debt charges	9461	112.925,53	99.633,62
Other financial charges	9471
Disposal of fixed assets
Capital profits realised
Capital losses realised	9491

RELATIONSHIPS WITH AFFILIATED COMPANIES, ASSOCIATED COMPANIES AND OTHER COMPANIES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
ASSOCIATED COMPANIES
Financial fixed assets	1 9253
Participating interests
Subordinated amounts receivable	1 9273
Other amounts receivable	9283
Amounts receivable	9293
Over one year
Within one year
Amounts payable
Over one year
Within one year
Personal and real guarantees
Provided or irrevocably promised by the company as security for debts or commitments of affiliated companies	9383
Provided or irrevocably promised by affiliated companies as security for debts or commitments of the company	a383
Other significant financial commitments
COMPANIES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets		10.505.309,12	14.022.166,69
Participating interests		10.505.309,12	14.022.166.69
Subordinated amounts receivable	9272
Other amounts receivable	9282
Amounts receivable	9292
Over one year	1 9302
Within one year	9312
Amounts payable	9352
Over one year
Within one year	9372

TRANSACTIONS WITH AFFILIATED PARTIES BEYOND NORMAL 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 that should be necessary to get a better understanding of the financial situation of the company

Nihil

Nº.	0448.746.744
-----	--------------

FINANCIAL RELATIONSHIPS WITH

	Codes	Period
DIRECTORS AND MANAGERS, INDIVIDUALS OR LEGAL PERSONS WHO CONTROL THE COMPANY DIRECTLY OR INDIRECTLY WITHOUT BEING ASSOCIATED THEREWITH, OR OTHER COMPANIES CONTROLLED DIRECTLY OR INDIRECTLY BY THESE PERSONS
Amounts receivable from these persons
Principal conditions regarding amounts receivable, rate of interest, duration, any amounts repaid, cancelled or written off
Guarantees provided in their favour
Other significant commitments undertaken in their favour
Amount of direct and indirect remunerations and pensions, reflected 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
To former directors and former managers

	Codes	Period
THE AUDITOR(S) AND THE PERSONS WHOM HE (THEY) IS (ARE) COLLABORATING WITH
Auditors' fees		67.600,00

Fees for exceptional services or special assignments executed within the company by the auditor
Other audit assignments
Tax consultancy assignments
Other assignments beyondthe audit

Fees for exceptional services or special assignments executed within the company by people the auditor(s) is (are collaborating with
Other audit assignments	195081
Tax consultancy assignments	195082	3.950.00
Other assignments beyondthe audit

Mentions related to article 3:64, § 2 and § 4 of the Belgian Companies and Associations Code

DERIVATIVE FINANCIAL INSTRUMENTS THAT ARE NOT VALUED BASED UPON THE REAL VALUE

Period Preceding period Size Book value Real value Book value Real value Hedged risk Speculation/ Category of derivative financial coverage instruments BNP USD aankoop Forward Dekking 2.850.000 0,00 -91.676,48 0,00 0,00 0,00 1.500.000 0.00 1.972.53 0.00 BNP CHF verkoop Forward Dekking 5.250.000 0,00 -22.778,29 0,00 0,00 BNP SEK verkoop Forward Dekking 123.789,22 BNP USD aankoop Forward Dekking 5.700.000 0,00 0,00 0,00 -107.477,99 BNP CHF verkoop 6.300.000 0,00 0.00 0 00 Forward Dekking BNP SEK verkoop Dekking 8.400.000 0,00 0,00 0,00 -10.518,47 Forward -41.318,34 ING NOK verkoop Forward Dekking 24.000.000 0,00 0,00 0,00 Dekking 7.200.000 0,00 0,00 -252.012,03 ING GBP verkoop 0.00 Forward ING CAD verkoop Forward Dekking 5.400.000 0,00 0,00 0,00 -77.252,49

FOR EACH CATEGORY OF DERIVATIVE FINANCIAL INSTRUMENTS THAT ARE NOT VALUED BASED UPON THE REAL VALUE

FINANCIAL FIXED ASSETS RECORDED AT AN AMOUNT HIGHER THAN THE REAL VALUE

Amount of separate assets or of its appropriate groups

Reasons why the book value has not decreased

Elements that lead to assume that it will be possible to realise the book value

Book value	Real value

DECLARATION WITH REGARD TO THE CONSOLIDATED ANNUAL ACCOUNTS

INFORMATION TO DISCLOSE BY EACH COMPANY GOVERNED BY THE BELGIAN COMPANIES AND ASSOCIATIONS CODE ON THE CONSOLIDATED ANNUAL ACCOUNTS

The company has prepared and published consolidated annual accounts and a consolidated annual report*

The company has not prepared consolidated annual accounts and a consolidated annual report, because of an exemption for the following reason(s) *-

The company and its subsidiaries exceed, on a consolidated basis, not more than one of the criteria mentioned in article 1:26 of the Belgian Companies and Associations Code -

The company only has subsidiaries that, considering the consolidated capital, the consolidated financial position or the consolidated rosult, individually or together, are of negligible interestError! Bookmark not defined. (artilo Belgian Companies and Associations Code)

The company itself is a subsidiary of a parent company that prepares and publishes consolidated annual accounts, in which the annual accounts are integrated by consolidation *-

Name, full address of the registered office and, if it concerns companies under Belgian law, the company registration number of the parent company(ies) and the indication if this (these) parent company(ies) prepare) and publishes (publish) consolidated annual accounts, in which the annual accounts are included by means of consolidation**:

If the parent company(ies) is (are) (a) company(ies) governed by foreign law, the abovementioned annual accounts are available ** :

Strike out what does not apply.

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

Principle

The valuation rules are determined according of the Royal Decree of 29 april 2019 in implementation of the Belgian Companies and Associations Code.

In respect of the requirement of a true and fair view the valuation rules of this Decree shall be deviated from in the following exceptional cases

Niet van toepassing

Reasons for the deviation:

Niet van toepassing

The effects of the deviation on assets and liabilities, financial position of the enterprise are as follows: Niet van toepassing

The valuation rules are (changed) (not changed) in wording and application as compared to the preceding financial period; if so, the change related to:

and has a (positive) (negative) effect on the financial period before taxation to the amount of

EUR.

The income statement (is) (is not) significantly effected by income or charges relating to a previous financial period; if so, the material effect results from:

The figures of the financial period are not comparable with those of the preceding financial period for the following reason:

(In order to maintain comparability the figures of the preceding financial period are adjusted regarding to following reasons) (To compare the annual accounts of both financial periods involved following information should be taken into account):

In absence of objective standards of appraisal following valuation of foreseeable liabilities, contingent in value is inevitably uncertain:

Other information necessary to give a true and fair view of the enterprise's liabilities, financial position and result:

2. Fixed assets

Formation expenses:

Formation expenses are charged against income except for following costs capitalised:

Reorganization costs:

The reorganization costs are {eapitalised} (not capitalised) during the financial period; if so, this is justified as follows:

Intangible fixed assets:

EUR research and development costs. Depreciation of these costs The amount of intangible assets includes and the depreciations for goodwill are charged over a period of {{mere than} 5 years; if more than 5 years the period involved is justified as follows :

Tangible fixed assets:

During the financial period the tangible assets (are not) revalued; if so, the revaluation if justified are as follows:

VALUATION RULES

Depreciation recorded during the financial period:

	Method
		Basis	Depreciation rate
Assets	ਓ (straightline	NR (non-
	R (reducing balance)	revalued)	Principal costs	Ancillary costs
	O (other)	R (revalued)	Min. - Max.	Min. - Max.
1. Formation expenses
2. Intangible fixed assets
Software	S		20,00 - 20,00	20,00 - 20,00
Merken	S		20,00 - 20,00	20,00 - 20,00
3. Buildings*
Industriële gebouwen	S	NR	5,00 - 5,00	5,00 - 5,00
Commerciële gebouwen	S	NR	3,03 - 3,03	3,03 - 3,03
lsolatie gebouwen	S	NR	10,00 - 10,00	10,00 - 10,00
4. Plant, machinery and equipments *
Installaties, machines en uitrus	S	NR	10,00 - 20,00	10,00 - 20,00
5. Vehicles*
	S		20,00 - 20,00	20,00 - 20,00
6. Office furniture *
Kantoor en meubilair	S	NR	10,00 - 20,00	10.00 - 20.00
7. Other tangible fixed assets

* Including leased assets which should be disclosed on a separate line.

Tax deductible accelerated depreciation in excess of depreciation based on economic circumstances:

amount for the financial period:
cumulative amount regarding tangible assets acquired as of the financial period beginning after December 31, 1983:

EUR.

Financial fixed assets:

During the financial period investment (are) {are-net}- revaluation is justified as follows: Er werd een duurzame waardevermindering geboekt.

3. Current assets

Inventories:

Inventories are valued at acquisition cost delemined according to the method (to be disclosed) of the weighted average price method, Fifo, Lifo, by identifying individually the price of each element or by the lower market value

Raw materials and consumables:

FIFO

1. Work in progress finished goods:
2. FIFO
1. Goods purchased for resale:

Grondstoffen, goederen in bewerking, handelsgoederen en gereed product worden gewaardeerd tegen de van de kosten is of de obbrengstwaarde. De kostprijs van vooraden omversiekosten en andere kosten die zijn gemaakt om de voorraden naar hun huidige toestand te brengen. De waarderingsmelhode voor de voorraden is de methode FIFO.

De inkoopkosten omvatten:

-aankoopprijs; plus

-invoerrechten en andere belastingen (indien ze niet kunnen worden teruggevorderd); plus

-transport, afhandeling en overige kosten die direct kunnen worden toegeschreven aan de goederen; min -handelskortingen, andere kortingen en overige soortgelijke posten.

De conversiekosten omvatten:

-de kosten die direct verband houden met de productie-eenheden; plus

-een systematische toerekening van vaste en variabele indirecte productiekosten.

De voorziening voor economische veroudering wordt consequent berekend in de hele Groep, op basis van de verwachte toekomstige omzet van de posten.

EUR.

VALUATION RULES

Immovable property intended for sale:

Products:

Production costs (include) {do not include}- costs that are only indirectly attributable to the product.
Production costs of stock and work in production of which exceeds more than one year (indude) on capital borrowed to finance the production.

% of its book value at the end of the financial period. Stocks total valued at market value amount to (This information is only required in the event of a substantial difference).

Contracts in progress:

Contracts in progress are valued (at production cost) (at production cost increased by a portion of the profit according to the state of completion of the contract)

4 I iabilities

Debts:

Liabilities {include} (do not include) long-term debts, bearing no interests or at an unusual low interest; if so, a discount (has) (has not) been recognised and capitalised.

Foreign currencies:

Debts, liabilities and commitments denominated in foreign currencies are translated in EUR using following criteria: Volgens de officiële middenkoers genoteerd op de beurs van Brussel op afsluitdatum.

Exchange differences have been disclosed in the annual accounts as follows:

Positieve omrekeningsverschillen worden via overlopende rekeningen verwerkt; negatieve worden in het resultaat opgenomen.

Leasing agreements:

Concerning the rights to use property not capitalised (relating to immovable property and concluded before 1 January 1900), consideration and rental relating to the financial period if the leased immovable property, amount to: " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " " "

ANNUAL REPORT

Valseba BV, vast vertegenwoordigd door Isabelle Maes, werd voor het eerst benoemd als bestuurder op de jaarvergadering van 2019 en maakt als onafhankelijk bestuurder in de zin van het Wetboek van vennootschappen en verenigingen deel uit van het Audit- en Risicocomité. Isabelle is van opleidingenieur. Zij is CEO van Lotus Bakeries Natural Foods. Voorheen was zij actief als CFO bij Lotus Bakeries en bij Barry Callebout Belgium en Senior Auditor bij PWC.
Bijkantoren

Op 19 juli 2011 heeft Van de Velde een bijkantoor opgericht in Zweden (organisatienummer 516407-5078) met de naam "Van de Velde NV Belgium Filial Sweden". Op 1 juli 2017 heeft Van de Velde een bijkantoor opgericht in Frankrijk (organisatienummer 831 118 146) met de naam "Van de Velde NV Succursale France".

Opsomming in het kader van artikel 34 van 14 november 2007 betreffende de verplichtingen van emittenten van financile instrumenten die zijn toegelaten tot de verhandeling op een gereglementeerde markt:

-43,73% van de aandelen van Van de Velde NV is geplaatst bij het publiek. De andere aandelen zijn in het bezit van Van de Velde Holding NV, die de belangen groepeert van de families Laureys en Van de Velde. Er bestaan geen verschillende soorten aandelen -Er bestaan geen wettelijke of statutaire beperkingen van overdracht van effecten.

-Houders van effecten waaraan bijzondere zeggenschap is verbonden: een meerderheid van de Velde NV wordt benoemd uit de kandidaten voorgedragen door de Van de Velde Holding NV zolang deze - direct of indirect - ten minste 35% van de aandelen van de vennootschap bezit.

-Er bestaan geen aandelenplannen voor werknemers waarvan de zeggenschapsrechten niet rechtstreeks door de werknemers worden uitgeoefend.

-Er bestaan geen wettelike of statutaire beperkingen van de uitoefening van het stemrecht.

-Van de Velde NV heeft geen kennis van enige aandeelhoudersovereenkomsten.

-Behoudens het hierboven vermelde feit dat een meerders in Van de Velde NV wordt benoemd uit de kandidaten voorgedragen door de Van de Velde Holding NV zolang deze - direct of indirect - ten minste 35% van de aandelen van de vennootschap bezit, bestaan er geen regels voor de bervanging van de leden van het bestuursorgaan of statutaire beperkingen van de uitoefening van het stemrecht.

-De bevoegdheid van het bestuursorgaan wat de mogelijkheid tot uitgifte van aandelen betreft: de Raad van Bestuur is bevoegd om gedurende een periode van vijf jaar te rekenen vanaf de belgisch Staatsblad (3 januari 2020), het geplaatst kapitaal in een of meerdere malen te verhogen met een bedrag van 1.936.173,73 euro, onder de zijn vastgelegd in de statuten.

-De bevoegdheid van het bestuursorgaan wat de mogelijkheid tot inkoop van aandelen betreft: zie hierboven punt 7.

-Er bestaan geen belangrijke overeenkomsten waarbjj Van de Velde NV partij is en die in werking treden, wijzigingen ondergaan of aflopen in geval van een wijziging van zeggenschap over de emittent na een openbaar bod.

-Tussen de emittent en zijn bestuurders enlof werknemers werden er geen overeenkomsten gesloten die in een vergeeling voorzien wanneer naar aanleiding van een openbaar bod de samenwerking wordt beëindigd.

12. Verklaring inzake deugdelijk bestuur

We verwijzen naar hoofdstuk 3 van de jaarbrochure voor de verklaring inzake deugdelijk bestuur.

13. Remuneratieverslag

Het remuneratieverslag geeft op een transparante manier het verloningsbeleid van Van de Velde voor haar bestuurders en leden van het Directiecomité weer, conform de Corporate Governance Wet van 17 februari 2017 en de Belgische Corporate Gode. We verwijzen naar de verklaring inzake deugdelijk bestuur in de jaarbrochure.

14. Voorstel tot winstverdeling

De Raad van Bestuur stelt aan de Algemene Vergadering der Aandeelhouders voor om een bruiodividend van 1,00 euro per aandeel uit te betalen. Na betaling van roerende voorheffing blijft een netodividend over van 0,70 euro per aandeel. Na goedkeuring door de Algemene Vergadering zal het dividend van 1,00 euro per aandeel) betaalbaar worden gesteld vanaf 6 mei 2021.

In 2020 heeft de Raad van Bestuur, op basis van de bevoegdheid verleend in de statuten, de uitbetaling van een interim dividend goedgekeurd van 1,00 euro per dividend gerechtigd aandeel en dit ter vervanging van het dividend over het boekjaar 2019 dat niet werd uitgekeerd. Na betaling van de roerende voorheffing blijft er een nettodividend over van 0,70 euro per aandeel en dit werd op 4 september 2020 uitbetaald.

Voorgestelde winstverdeling in duizend euro:

Te bestemmen winst	11.527
Onttrekking aan het eigen vermogen	-15.090
Uit te keren winst	26.617
- waarvan uitbetaald bruto interim dividend van 1,00 euro per dividend gerechtigd aandeel aan 13.294.302 aandelen -13.294
-waarvan voorgesleld bruto dividend van 1,00 euro per aandeel aan 13.322.480 aandelen	13.323

Niet-financiële informatie

We verwijzen naar het duurzaamheidsverslag onder hoofdstuk 9 van de jaarbrochure.

Mavac BV, vast vertegenwoordigd door Marleen Vaesen

ANNUAL REPORT

Gedelegeerd bestuurder

SOCIAL BALANCE SHEET

Numbers of the joint industrial committees competent for the company: 215

STATEMENT OF THE PERSONS EMPLOYED

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

During the period	Total	1. Men	2. Women
Average number of employees
1001 Full-time	385,2	67,7	317,5
штуушынын шиништинин шиништинин Part-time	129,1	5,3	123,8
Total in full-time equivalents (FTE)	483,7	70,9	412,8
Number of actual hours worked
нарасының тұрғынының тұрғынының 1011 Full-time	473.108	94.803	378.305
ничные интиниции интиниции интикации и 1012 Part-time	114,876	4.635	110.241
Total	587.984	99.438	488.546
Personnel costs
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Full-time	21.520.808.32	4.972.896,24	16.547.912,08
Part-time	4.696.875,54	242.533,16	4.454.342,38
################################### 1023 Total	26.217.683.86	5.215.429,40	21.002.254,46
Benefits in addition to wages

During the preceding period	Codes	P. Total	1P. Men	2P. Women
Average number of employees in FTE Number of actual hours worked Personnel costs Benefits in addition to wages		526,7 696.031 30.989.655.20	82.9 124.306 6.565.347.00	443.8 571.725 24.424.308,20

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

	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
At the closing date of the period
Number of employees	105	386	113	473,7
By nature of the employment contract
Contract for an indefinite period	110	385	113	472,7
Contract for a definite period	111	1		1.0
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to gender and study level
Men --------------------------------------------------------------------------------------------------------------------------------------------------------------------------	120	દિક	2	67,5
primary education	1200
secondary education	1201	33	2	34,5
higher non-university education	1202	21		21,0
university education	1203	12		12,0
Women	121	320	111	406,2
primary education	1210	9	8	14.9
secondary education	1211	181	72	236,5
higher non-university education	1212	67	24	85,9
university education	1213	63	7	68,9
By professional category
Management staff	130	2		2,0
Salaried employees	134	189	40	220,6
Hourly employees	132	195	73	251,1
Other	133

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE DISPOSAL OF THE COMPANY

During the period	Codes	1. Hired temporary staff
Average number of persons employed		6.7
Number of actual hours worked	1151	13.017
Costs to the company	152	281.061.07

LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

ENTRIES	Codes	1. Full-time	3. Total in full-time equivalents
Number of employees for whom the company submitted a DIMONA declaration or who have been recorded in the general personnel register during the period	205	10	10.0
By nature of the employment contract
Contract for an indefinite period		9	9,0
Contract for a definite period		1	1.0
Contract for the execution of a specifically assigned work . 212
Replacement contract

DEPARTURES	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
Number of employees whose contract-termination date has been included in the DIMONA declaration or in the general personnel register during the period		34	15	43,1
By nature of the employment contract
Contract for an indefinite period		34	15	43.1
Contract for a definite period	311
Contract for the execution of a specifically assigned work	312
Replacement contract
By reason of termination of contract
Retirement		1	8	5,6
Unemployment with extra allowance from enterprise 341
Dismissal	342	9	1	0.8
Other reason		24	6	27,7
Of which: the number of persons who continue to render services to the company at least half-time on a self-employment basis 350

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

Total of initiatives of formal professional training at the expense of the employer	Codes	Men	Codes	Women
Number of employees involved	5801	32	5811	91
Number of actual training hours	5802	330	5812	1.240
Net costs for the company	2803	11.293,00	5813	94.014,00
of which gross costs directly linked to training	58031	18.154,00	58131	117.925,00
of which contributions paid and payments to collective funds	58032	6.610,00	58132	37.458,00
of which grants and other financial advantages received (to deduct)	58033	13.471,00	58133	61.369,00
Total of initiatives of less formal or informal professional training at the expense of the employer
Number of employees involved	5821	66	5831	444
Number of actual training hours	5822	1.714	5832	14.138
Net costs for the company	1 5823	42.759.00	5833	364.461.00
Total of initial initiatives of 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 company	1 5843		5853

ﻟﻤﻮﺿﻮﻉ: ﺍﻟﻤﺴﺎﻋﺪ ﺍﻟﻤﺴﺎﺣﺔ ﺍﻟﻤﺴﺎﻋﺪ ﺍﻟﻤﺴﺎﺣﺔ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘ 1920년

	2020	2019
Aandelenkapitaal	1.936	1.936
Eigen aandelen in de entiteit	1.932	427
Uitgiftepremies	743	743

AI Terminal

Van de Velde NV

4020_rns_2021-03-26_8a5b8720-0d70-426e-9831-b523e63e5c5a.pdf

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS

HERMAN VAN DE VELDE NV 0460.768.212

Represented by :

LAUREYS LUCAS

LAUREYS BENEDICTE

BENOIT GRAULICH BV 0472.527.877

DIRK GOEMINNE BV 0897.660.071

YJC BV 0652.675.683

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS (continued from previous page)

MAVAC BV 0824.965.994

LAUREYS VERONIQUE

VALSEBA BV 0639.986.994

VAN DE VELDE GREET

EY BEDRIJFSREVISOREN B BV 00437.476.235

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

PROFIT AND LOSS ACCOUNT

APPROPRIATION ACCOUNT

STATEMENT OF TANGIBLE FIXED ASSETS

STATEMENT OF FINANCIAL FIXED ASSETS

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND OTHER RIGHTS IN OTHER COMPANIES

PARTICIPATING INTERESTS AND OTHER RIGHTS IN OTHER COMPANIES

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND OTHER RIGHTS IN OTHER COMPANIES

STATEMENT OF CAPITAL AND SHAREHOLDERS' STURCTURE

SHAREHOLDERS' STRUCTURE OF THE COMPANY AT YEAR-END CLOSING DATE

STATEMENT OF AMOUNTS PAYABLE AND ACCRUALS AND DEFERRED INCOME (LIABILITIES)

ACCRUALS AND DEFERRED INCOME

OPERATING RESULTS

FINANCIAL RESULTS

INCOME AND CHARGES OF EXCEPTIONAL SIZE OR FREQUENCY

TAXES

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS

SETTLEMENT REGARDING THE COMPLEMENT OR SURVIVORS' PENSION FOR PERSONNEL AND BOARD MEMBERS

Brief description

SETTLEMENT REGARDING THE COMPLEMENT OR SURVIVORS' PENSION FOR PERSONNEL AND BOARD MEMBERS

RELATIONSHIPS WITH AFFILIATED COMPANIES, ASSOCIATED COMPANIES AND OTHER COMPANIES LINKED BY PARTICIPATING INTERESTS

RELATIONSHIPS WITH AFFILIATED COMPANIES, ASSOCIATED COMPANIES AND OTHER COMPANIES LINKED BY PARTICIPATING INTERESTS

TRANSACTIONS WITH AFFILIATED PARTIES BEYOND NORMAL MARKET CONDITIONS

FINANCIAL RELATIONSHIPS WITH

DERIVATIVE FINANCIAL INSTRUMENTS THAT ARE NOT VALUED BASED UPON THE REAL VALUE

FOR EACH CATEGORY OF DERIVATIVE FINANCIAL INSTRUMENTS THAT ARE NOT VALUED BASED UPON THE REAL VALUE

DECLARATION WITH REGARD TO THE CONSOLIDATED ANNUAL ACCOUNTS

INFORMATION TO DISCLOSE BY EACH COMPANY GOVERNED BY THE BELGIAN COMPANIES AND ASSOCIATIONS CODE ON THE CONSOLIDATED ANNUAL ACCOUNTS

2. Fixed assets

Formation expenses:

Reorganization costs:

Intangible fixed assets:

Tangible fixed assets:

VALUATION RULES

Financial fixed assets:

3. Current assets

Inventories:

VALUATION RULES

Products:

Contracts in progress:

4 I iabilities

Debts:

Foreign currencies:

Leasing agreements:

OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

ANNUAL REPORT

4. Onderzoek en ontwikkeling

OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

ANNUAL REPORT

12. Verklaring inzake deugdelijk bestuur

13. Remuneratieverslag

14. Voorstel tot winstverdeling

OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

ANNUAL REPORT

SOCIAL BALANCE SHEET

STATEMENT OF THE PERSONS EMPLOYED