# GLOBALISED RESULT STATEMENTS
|  |  | 30 June 2022 EUR | 30 June 2021 EUR |
| --- | --- | --- | --- |
|  | Section 3: Income and expenditure account |  |  |
|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
| I. | Depreciation, capital loss and capital gain | -3,488,981,668.08 | 1,033,965,815.97 |
| A. | Bonds and other debt securities | -159,928,667.02 | -20,068,394.53 |
| a. | Bonds | -159,928,667.02 | -20,068,394.53 |
|  | Realised gain | 14,261,868.12 | 6,222,333.07 |
|  | Realised loss | -15,304,757.18 | -639,754.08 |
|  | Unrealised gain and loss | -158,885,777.96 | -25,650,973.52 |
| B. | Money market instruments | 86,092.94 |  |
|  | Realised gain | 168,168.95 |  |
|  | Realised loss | -106,763.67 |  |
|  | Unrealised gain | 24,687.66 |  |
| C. | Shares and other securities similar to shares | -3,027,696,171.02 | 1,049,592,487.98 |
| a. | Shares | -3,027,360,727.08 | 1,048,631,340.09 |
|  | Realised gain | 712,223,389.87 | 511,558,646.26 |
|  | Realised loss | -341,277,856.07 | -72,106,421.06 |
|  | Unrealised gain and loss | -3,398,306,260.88 | 609,179,114.89 |
| b. | UCI with fixed number of shares | -335,443.94 | 961,147.89 |
|  | Realised loss | -12,677.61 | -86,723.10 |
|  | Unrealised gain and loss | -322,766.33 | 1,047,870.99 |
| D. | Other Transferable Securities | 6,151,339.13 |  |
|  | Realised gain | 6,525.76 |  |
|  | Unrealised gain and loss | 6,144,813.37 |  |
| E. | UCI with variable number of shares | -307,555,980.31 |  |
|  | Realised gain | 48,188,002.30 |  |
|  | Realised loss | -8,036,822.01 |  |
|  | Unrealised gain and loss | -347,707,160.60 |  |
| F. | financial derivatives | 4,326,349.47 | 3,461,535.00 |
| a. | On bonds | 11,579,099.38 | 3,461,535.00 |
| ii. | Futures | 11,579,099.38 | 3,461,535.00 |
|  | Realised gain and loss | 11,324,889.38 | 4,160,490.00 |
|  | Unrealised gain and loss | 254,210.00 | -698,955.00 |
| l. | On financial indexes | -7,252,749.91 |  |
| ii. | Futures | -7,252,749.91 |  |
|  | Realised gain and loss | -7,922,395.01 |  |
|  | Unrealised gain and loss | 669,645.10 |  |
| G. | Receivables, deposits, liquidity and payables |  |  |
| H. | Foreign exchange positions and transactions | -4,364,631.27 | 980,187.52 |
| a. | financial derivatives | -3,831,446.74 | 2,455,689.13 |
| ii. | Futures and forward contracts | -3,831,446.74 | 2,455,689.13 |
|  | Realised gain and loss | -3,386,192.46 | 811,639.30 |
|  | Unrealised gain and loss | -445,254.28 | 1,644,049.83 |
| b. | Other exchange positions and operations | -533,184.53 | -1,475,501.61 |
| iv. | Other | -533,184.53 | -1,475,501.61 |
|  | Realised gain and loss | 553,283.47 | -1,536,360.35 |
|  | Unrealised gain and loss | -1,086,468.00 | 60,858.74 |
|  |  |  |  |
| II. | Investment income and expenses | 188,740,010.91 | 98,439,952.79 |
| A. | Dividends | 197,029,538.71 | 92,778,318.34 |
| B. | Interest (+/-) | 15,330,233.45 | 6,942,222.47 |
| a. | Transferable securities and money market instruments | 14,656,370.21 | 6,412,653.99 |
| b. | Deposits and liquidity | 673,863.24 | 529,568.48 |
|  | Interest on loans (-) | -1,787,187.25 | -1,123,889.83 |
|  | Swap contracts (+/-) |  |  |
|  | Withholding tax (-) | -21,834,244.20 | -163,715.55 |
|  | Belgian | -6,032,044.22 | -1,413,831.11 |
|  | Foreign | -15,802,199.98 | 1,250,115.56 |
| F. | Other investment income | 1,670.20 | 7,017.36 |
|  |  |  |  |
| III. | Other income | 509,893.13 | 825.12 |
| A. | Anti dilution fee | 509,893.13 | 10.78 |
| B. | Other |  | 814.34 |
|  |  |  |  |
| IV. | Operating expenses | -77,143,363.38 | -49,578,382.39 |
| A. | Investment transaction and delivery costs (-) | -12,795,109.62 | -8,921,124.47 |
| B. | Financial expenses (-) | -65,451.06 | -5,633.91 |
| C. | Custodian’s fee (-) | -3,569,109.27 | -2,368,955.94 |
| D. | Manager’s fee (-) | -58,385,687.74 | -36,829,683.03 |
| a. | Financial Management of the Portfolio | -54,624,306.95 | -33,473,823.84 |

|  |  | 30 June 2022 EUR | 30 June 2021 EUR |
| --- | --- | --- | --- |
|  | Class A (Dis) | -8,372,906.90 | -2,783,504.45 |
|  | Class A USD (Dis) | -2,430.39 |  |
|  | Class A EUR HEDGED (Dist) | -14,533.42 |  |
|  | Class B (Cap) | -17,017,529.51 | -9,969,366.48 |
|  | Class B EUR HEDGED (Cap) | -9,254.27 |  |
|  | Class B USD (Cap) | -412,027.31 | -32,720.23 |
|  | Class E (Dis) | -495,006.30 | -760,268.92 |
|  | Class E EUR HEDGED (Dist) | -1,205.87 |  |
|  | Class F (Cap) | -14,552,497.46 | -11,357,990.87 |
|  | Class F LC (Cap) | -109.61 | -28.49 |
|  | Class F USD (Cap) | -446.35 | -298.44 |
|  | Class F CHF HEDGED (Cap) | -37,106.87 | -33,926.77 |
|  | Class F EUR HEDGED (Cap) | -43,027.19 |  |
|  | Class F USD HEDGED (Cap) | -404,861.07 | -315,734.86 |
|  | Class J (Cap) | -7,202,606.56 | -4,144,408.64 |
|  | Class L (Cap) | -67,396.72 | -46,699.22 |
|  | Class L USD (Cap) | -651.89 |  |
|  | Class M (Dis) | -1,748,081.83 | -1,196,136.39 |
|  | Class M EUR HEDGED (Dist) | -35,852.30 |  |
|  | Class N (Cap) | -1,349,311.11 | -821,415.18 |
|  | Class N EUR HEDGED (Cap) | -15,191.14 |  |
|  | Class P (Cap) | 29.77 |  |
|  | Class V (Dis) | -814,171.90 | -455,825.36 |
|  | Class W (Cap) | -1,872,860.55 | -1,551,932.54 |
|  | Class W USD (Cap) | -8,901.15 | -3,567.00 |
|  | Class M USD (Cap) | -576.64 |  |
|  | Class N USD (Dis) | -145,792.41 |  |
| b. | Administration and accounting | -3,772,108.55 | -3,355,859.19 |
| c. | Commercial remuneration | 10,727.76 |  |
| E. | Administrative expenses (-) | -705,587.50 | -494,399.96 |
| F. | Incorporation and organisation expenses (-) | -2,399.28 | -24,567.55 |
| G. | Salaries and wages, social security charges and pensions (-) | -1,352.46 | -4,993.76 |
| H. | Services and various goods (-) | -586,883.63 | -240,313.46 |
| I. | Depreciation and provisions for liabilities and charges (-) |  |  |
| J. | Taxes | -856,852.82 | -581,120.90 |
|  | Class A (Dis) | -160,294.11 | -125,828.64 |
|  | Class A USD (Dis) | -416.89 |  |
|  | Class A EUR HEDGED (Dist) | -2,609.96 |  |
|  | Class B (Cap) | -295,734.32 | -209,341.21 |
|  | Class B EUR HEDGED (Cap) | -302.14 |  |
|  | Class B USD (Cap) | -4,052.67 | -1,123.25 |
|  | Class E (Dis) | -295.81 | 4,942.97 |
|  | Class E EUR HEDGED (Dist) | -56.67 |  |
|  | Class F (Cap) | -70,781.08 | -31,314.85 |
|  | Class F LC (Cap) | -81.11 | -1.01 |
|  | Class F EUR HEDGED (Cap) | -301.37 |  |
|  | Class F USD HEDGED (Cap) | 0.30 | 166.06 |
|  | Class F CHF HEDGED (Cap) | -14.16 | 16.82 |
|  | Class F USD (Cap) | 0.02 | -1.74 |
|  | Class J (Cap) | -3,502.44 | 4,587.43 |
|  | Class L (Cap) | -143.24 | -146.32 |
|  | Class L USD (Cap) | 0.07 |  |
|  | Class M (Dis) | -202,685.10 | -154,942.52 |
|  | Class M EUR HEDGED (Dist) | -11,476.25 |  |
|  | Class N (Cap) | -95,855.16 | -72,921.95 |
|  | Class N EUR HEDGED (Cap) | -367.57 |  |
|  | Class P (Cap) | -5,376.51 | -3,353.37 |
|  | Class P EUR HEDGED (Cap) | 29.02 |  |
|  | Class V (Dis) | -724.06 | 6,222.07 |
|  | Class W (Cap) | -174.03 | 1,946.94 |
|  | Class W USD (Cap) | -16.03 | -28.33 |
|  | Class N USD (Cap) | -1,542.47 |  |
|  | Class M USD (Dis) | -79.08 |  |
| K. | Other expenses (-) | -174,930.00 | -107,589.41 |
|  |  |  |  |
|  | Income and expenditure for the financial year Sub-Total II + III + IV | 112,106,540.66 | 48,862,395.52 |
|  |  |  |  |
| V. | Current profit (loss) before income tax | -3,376,875,127.42 | 1,082,828,211.49 |
|  |  |  |  |
| VI. | Income tax |  |  |
|  |  |  |  |
| VII. | Result of the period | -3,376,875,127.42 | 1,082,828,211.49 |

As stipulated in the summary of accounting and valuation rules, the 2021 consolidated balance sheet does not take into account the sub-funds of the DPAM Horizon B and DPAM Capital B SICAVs merged into this SICAV (formerly DPAM Invest B) on 1 April 2022.
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Translation (ENFR, 2022-06-30):
# COMPTE DE RÉSULTATS GLOBALISÉ
|  |  | 30 juin 2022 EUR | 30 juin 2021 EUR |
| --- | --- | --- | --- |
|  | Section 3: Schéma du compte de résultats |  |  |
|  |  |  |  |
| I. | Réductions de valeur, moins-values et plus-values | -3.488.981.668,08 | 1.033.965.815,97 |
| A. | Obligations et autres titres de créance | -159.928.667,02 | -20.068.394,53 |
| a. | Obligations | -159.928.667,02 | -20.068.394,53 |
|  | Gain réalisé | 14.261.868,12 | 6.222.333,07 |
|  | Perte réalisée | -15.304.757,18 | -639.754,08 |
|  | Gain/Perte non-réalisé | -158.885.777,96 | -25.650.973,52 |
| B. | Instruments du marché monétaire | 86.092,94 |  |
|  | Gain réalisé | 168.168,95 |  |
|  | Perte réalisée | -106.763,67 |  |
|  | Gain/Perte non-réalisé | 24.687,66 |  |
| C. | Actions et autres valeurs assimilables à des actions | -3.027.696.171,02 | 1.049.592.487,98 |
| a. | Actions | -3.027.360.727,08 | 1.048.631.340,09 |
|  | Gain réalisé | 712.223.389,87 | 511.558.646,26 |
|  | Perte réalisée | -341.277.856,07 | -72.106.421,06 |
|  | Gain/Perte non-réalisé | -3.398.306.260,88 | 609.179.114,89 |
| b. | OPC à nombre fixe de parts | -335.443,94 | 961.147,89 |
|  | Perte réalisée | -12.677,61 | -86.723,10 |
|  | Gain/Perte non-réalisé | -322.766,33 | 1.047.870,99 |
| D. | Autres valeurs mobilières | 6.151.339,13 |  |
|  | Gain réalisé | 6.525,76 |  |
|  | Gain/Perte non-réalisé | 6.144.813,37 |  |
| E. | OPC à nombre variable de parts | -307.555.980,31 |  |
|  | Gain réalisé | 48.188.002,30 |  |
|  | Perte réalisée | -8.036.822,01 |  |
|  | Gain/Perte non-réalisé | -347.707.160,60 |  |
| F. | Instruments financiers dérivés | 4.326.349,47 | 3.461.535,00 |
| a. | Sur obligations | 11.579.099,38 | 3.461.535,00 |
| ii. | Contrats à terme | 11.579.099,38 | 3.461.535,00 |
|  | Gain/Perte réalisé | 11.324.889,38 | 4.160.490,00 |
|  | Gain/Perte non-réalisé | 254.210,00 | -698.955,00 |
| l. | Sur indices financiers | -7.252.749,91 |  |
| ii. | Contrats à terme | -7.252.749,91 |  |
|  | Gain /Perte réalisée | -7.922.395,01 |  |
|  | Gain /Perte non-réalisée | 669.645,10 |  |
| G. | Créances, dépôts, liquidités et dettes |  |  |
| H. | Positions et opérations de change | -4.364.631,27 | 980.187,52 |
| a. | Instruments financiers dérivés | -3.831.446,74 | 2.455.689,13 |
| ii. | Contrats à terme | -3.831.446,74 | 2.455.689,13 |
|  | Gain /Perte réalisée | -3.386.192,46 | 811.639,30 |
|  | Gain /Perte non-réalisée | -445.254,28 | 1.644.049,83 |
| b. | Autres positions et opérations de change | -533.184,53 | -1.475.501,61 |
| iv. | Autres | -533.184,53 | -1.475.501,61 |
|  | Gain /Perte réalisée | 553.283,47 | -1.536.360,35 |
|  | Gain /Perte non-réalisée | -1.086.468,00 | 60.858,74 |
|  |  |  |  |
| II. | Produits et charges des placements | 188.740.010,91 | 98.439.952,79 |
| A. | Dividendes | 197.029.538,71 | 92.778.318,34 |
| B. | Intérêts (+/-) | 15.330.233,45 | 6.942.222,47 |
| a. | Valeurs mobilières et instruments du marché monétaire | 14.656.370,21 | 6.412.653,99 |
| b. | Dépôts et liquidités | 673.863,24 | 529.568,48 |
|  | Intérêts d'emprunts (-) | -1.787.187,25 | -1.123.889,83 |
|  | Contrats de swap (+/-) |  |  |
|  | Précomptes mobiliers (-) | -21.834.244,20 | -163.715,55 |
|  | D'origine belge | -6.032.044,22 | -1.413.831,11 |
|  | D'origine étrangère | -15.802.199,98 | 1.250.115,56 |
| F. | Autres produits provenant des placements | 1.670,20 | 7.017,36 |
|  |  |  |  |
| III. | Autres produits | 509.893,13 | 825,12 |
| A. | Indemnité destinée à couvrir les frais d'acquisition et de réalisation des actifs, à décourager les sorties et à couvrir les frais de livraison | 509.893,13 | 10,78 |
| B. | Autres |  | 814,34 |
|  |  |  |  |
| IV. | Coûts d'exploitation | -77.143.363,38 | -49.578.382,39 |
| A. | Frais de transaction et de livraison inhérents aux placements (-) | -12.795.109,62 | -8.921.124,47 |
| B. | Charges financières (-) | -65.451,06 | -5.633,91 |
| C. | Rémunération due au dépositaire (-) | -3.569.109,27 | -2.368.955,94 |
| D. | Rémunération due au gestionnaire (-) | -58.385.687,74 | -36.829.683,03 |
| a. | Gestion financière | -54.624.306,95 | -33.473.823,84 |
|  | Classe A (Dis) | -8.372.906,90 | -2.783.504,45 |

|  |  | 30 juin 2022 EUR | 30 juin 2021 EUR |
| --- | --- | --- | --- |
|  | Classe A USD (Dis) | -2.430,39 |  |
|  | Classe A EUR HEDGED (Dist) | -14.533,42 |  |
|  | Classe B (Cap) | -17.017.529,51 | -9.969.366,48 |
|  | Class B EUR HEDGED (Cap) | -9.254,27 |  |
|  | Classe B USD (Cap) | -412.027,31 | -32.720,23 |
|  | Classe E (Dis) | -495.006,30 | -760.268,92 |
|  | Class E EUR HEDGED (Dist) | -1.205,87 |  |
|  | Classe F (Cap) | -14.552.497,46 | -11.357.990,87 |
|  | Classe F LC (Cap) | -109,61 | -28,49 |
|  | Classe F USD (Cap) | -446,35 | -298,44 |
|  | Classe F CHF HEDGED (Cap) | -37.106,87 | -33.926,77 |
|  | Classe F EUR HEDGED (Cap) | -43.027,19 |  |
|  | Classe F USD HEDGED (Cap) | -404.861,07 | -315.734,86 |
|  | Classe J (Cap) | -7.202.606,56 | -4.144.408,64 |
|  | Classe L (Cap) | -67.396,72 | -46.699,22 |
|  | Classe L USD (Cap) | -651,89 |  |
|  | Classe M (Dis) | -1.748.081,83 | -1.196.136,39 |
|  | Classe M EUR HEDGED (Dist) | -35.852,30 |  |
|  | Classe N (Cap) | -1.349.311,11 | -821.415,18 |
|  | Classe N EUR HEDGED (Cap) | -15.191,14 |  |
|  | Classe P (Cap) | 29,77 |  |
|  | Classe V (Dis) | -814.171,90 | -455.825,36 |
|  | Classe W (Cap) | -1.872.860,55 | -1.551.932,54 |
|  | Classe W USD (Cap) | -8.901,15 | -3.567,00 |
|  | Classe M USD (Cap) | -576,64 |  |
|  | Classe N USD (Dis) | -145.792,41 |  |
| b. | Gestion administrative et comptable | -3.772.108,55 | -3.355.859,19 |
| c. | Rémunération commerciale | 10.727,76 |  |
| E. | Frais administratifs (-) | -705.587,50 | -494.399,96 |
| F. | Frais d'établissement et d'organisation (-) | -2.399,28 | -24.567,55 |
| G. | Rémunérations, charges sociales et pensions (-) | -1.352,46 | -4.993,76 |
| H. | Services et biens divers (-) | -586.883,63 | -240.313,46 |
| I. | Amortissements et provisions pour risques et charges (-) |  |  |
| J. | Taxes | -856.852,82 | -581.120,90 |
|  | Classe A (Dis) | -160.294,11 | -125.828,64 |
|  | Classe A USD (Dis) | -416,89 |  |
|  | Classe A EUR HEDGED (Dist) | -2.609,96 |  |
|  | Classe B (Cap) | -295.734,32 | -209.341,21 |
|  | Classe B EUR HEDGED (Cap) | -302,14 |  |
|  | Classe B USD (Cap) | -4.052,67 | -1.123,25 |
|  | Classe E (Dis) | -295,81 | 4.942,97 |
|  | Classe E EUR HEDGED (Dist) | -56,67 |  |
|  | Classe F (Cap) | -70.781,08 | -31.314,85 |
|  | Classe F LC (Cap) | -81,11 | -1,01 |
|  | Classe F EUR HEDGED (Cap) | -301,37 |  |
|  | Classe F USD HEDGED (Cap) | 0,30 | 166,06 |
|  | Classe F CHF HEDGED (Cap) | -14,16 | 16,82 |
|  | Classe F USD (Cap) | 0,02 | -1,74 |
|  | Classe J (Cap) | -3.502,44 | 4.587,43 |
|  | Classe L (Cap) | -143,24 | -146,32 |
|  | Classe L USD (Cap) | 0,07 |  |
|  | Classe M (Dis) | -202.685,10 | -154.942,52 |
|  | Classe M EUR HEDGED (Dist) | -11.476,25 |  |
|  | Classe N (Cap) | -95.855,16 | -72.921,95 |
|  | Classe N EUR HEDGED (Cap) | -367,57 |  |
|  | Classe P (Cap) | -5.376,51 | -3.353,37 |
|  | Classe P EUR HEDGED (Cap) | 29,02 |  |
|  | Classe V (Dis) | -724,06 | 6.222,07 |
|  | Classe W (Cap) | -174,03 | 1.946,94 |
|  | Classe W USD (Cap) | -16,03 | -28,33 |
|  | Classe N USD (Cap) | -1.542,47 |  |
|  | Classe M USD (Dis) | -79,08 |  |
| K. | Autres charges (-) | -174.930,00 | -107.589,41 |
|  |  |  |  |
|  | Produits et charges de l'exercice (du semestre) Sous-total II+III+IV | 112.106.540,66 | 48.862.395,52 |
|  |  |  |  |
| V. | Bénéfice courant (perte courante) avant impôts sur le résultat | -3.376.875.127,42 | 1.082.828.211,49 |
|  |  |  |  |
| VI. | Impôts sur le résultat |  |  |
|  |  |  |  |
| VII. | Résultat du semestre | -3.376.875.127,42 | 1.082.828.211,49 |

Comme stipule dans le résumé des règles de comptabilisation et d’évaluation, le résultat consolidé 2021 ne tient pas compte des compartiments des SICAV DPAM Horizon B et DPAM Capital B fusionnées au sein de cette SICAV (anciennement DPAM Invest B) le 1 er avril 2022.
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