# GLOBALISED RESULT STATEMENTS
|  |  | 31 December 2020 EUR | 31 December 2019 EUR |
| --- | --- | --- | --- |
|  | Section 3: Income and expenditure account |  |  |
|  |  |  |  |
| I. | Depreciation, capital loss and capital gain | 168,574,082.51 | 280,735,788.80 |
| A. | Bonds and other debt securities | 4,742,260.20 | 28,147,732.24 |
| a. | Bonds | 4,742,260.20 | 28,147,732.24 |
|  | Realised gain | 10,869,248.51 |  |
|  | Realised loss | -5,095,469.71 |  |
|  | Unrealised gain and loss | -1,031,518.60 |  |
| B. | Money market instruments | -14,674.55 | -1,588,770.67 |
|  | Realised gain | 1,304.01 |  |
|  | Realised loss | -19,285.93 |  |
|  | Unrealised gain | 3,307.37 |  |
| C. | Shares and other securities similar to shares | 1,959,377.71 | 6,892,677.55 |
| a. | Shares | 1,959,377.71 | 6,888,852.55 |
|  | Realised gain | 3,705,818.82 |  |
|  | Realised loss | -2,740,011.50 |  |
|  | Unrealised gain and loss | 993,570.39 |  |
| b. | UCI with fixed number of shares |  | 3,825.00 |
| D. | Other Transferable Securities |  | 8,847.09 |
| E. | UCI with variable number of shares | 128,314,734.62 | 234,118,430.06 |
|  | Realised gain | 90,513,128.25 |  |
|  | Realised loss | -28,737,515.17 |  |
|  | Unrealised gain and loss | 66,539,121.54 |  |
| F. | financial derivatives | 21,722,117.81 | 9,798,673.67 |
| a. | On bonds | -2,183,634.52 | -1,820,446.14 |
| ii. | Futures | -2,183,634.52 | -1,820,446.14 |
|  | Realised gain and loss | -2,219,366.72 |  |
|  | Unrealised gain and loss | 35,732.20 |  |
| j. | On interest rates |  | 179,890.06 |
| ii. | Futures |  | 179,890.06 |
| l. | On financial indexes | 23,905,752.33 | 11,429,229.75 |
| ii. | Futures | 23,905,752.33 | 11,429,229.75 |
|  | Realised gain and loss | 22,247,516.43 |  |
|  | Unrealised gain and loss | 1,658,235.90 |  |
| m. | On financial derivative instruments |  | 10,000.00 |
| i. | Option contracts |  | 10,000.00 |
| G. | Receivables, deposits, liquidity and payables |  |  |
| H. | Foreign exchange positions and transactions | 11,850,266.72 | 3,358,198.86 |
| a. | financial derivatives | 15,443,571.50 | -9,429,574.11 |
| ii. | Futures and forward contracts | 15,443,571.50 | -9,429,574.11 |
|  | Realised gain and loss | 10,789,690.76 |  |
|  | Unrealised gain and loss | 4,653,880.74 |  |
| b. | Other exchange positions and operations | -3,593,304.78 | 12,787,772.97 |
| iv. | Other | -3,593,304.78 |  |
|  | Realised gain and loss | -3,593,304.78 |  |
|  |  |  |  |
| II. | Investment income and expenses | 8,673,919.37 | 9,174,408.53 |
| A. | Dividends | 755,456.95 | 1,112,713.14 |
| B. | Interest (+/-) | 8,771,204.03 | 8,699,960.68 |
| a. | Transferable securities and money market instruments | 8,648,963.43 | 8,642,459.25 |
| b. | Deposits and liquidity | 122,240.60 | 57,501.43 |
|  | Interest on loans (-) | -708,139.82 | -413,735.38 |
|  | Swap contracts (+/-) |  |  |
|  | Withholding tax (-) | -145,571.00 | -224,529.91 |
|  | Belgian | -59,527.98 |  |
|  | Foreign | -86,043.02 | -224,529.91 |
| F. | Other investment income | 969.21 |  |
|  |  |  |  |
| III. | Other income | 91.14 | 107,351.89 |
| A. | Anti dilution fee | 0.08 |  |
| B. | Other | 91.06 | 107,351.89 |
|  |  |  |  |
| IV. | Operating expenses | -22,021,442.15 | -18,592,413.25 |
| A. | Investment transaction and delivery costs (-) | -267,239.85 | -633,415.52 |
| B. | Financial expenses (-) | -127,910.23 |  |
| C. | Custodian’s fee (-) | -1,155,477.65 | -254,123.52 |
| D. | Manager’s fee (-) | -18,854,349.62 | -17,374,729.81 |
| a. | Financial Management of the Portfolio | -17,262,328.42 | -15,553,923.22 |
|  | Class A (Dis) | -9,404,886.28 | -8,854,223.76 |
|  | Class A EUR HEDGED (Dist) | -31,692.05 | -37,793.15 |
|  | Class B (Cap) | -6,185,283.92 | -5,605,379.88 |

|  |  | 31 December 2020 EUR | 31 December 2019 EUR |
| --- | --- | --- | --- |
|  | Class B EUR HEDGED (Cap) | -28,066.59 | -23,936.80 |
|  | Class E EUR HEDGED (Dist) | -2,394.55 | -2,834.17 |
|  | Class F (Cap) | -777,284.87 | -284,141.14 |
|  | Class F EUR HEDGED (Cap) | -76,394.98 | -34,519.09 |
|  | Class J EUR HEDGED (Cap) |  | -13,421.11 |
|  | Class M (Dis) | -502,628.33 | -480,826.41 |
|  | Class M EUR HEDGED (Dist) | -90,125.22 | -80,564.70 |
|  | Class N (Cap) | -135,267.61 | -130,932.83 |
|  | Class N EUR HEDGED (Cap) | -20,712.28 | -5,281.70 |
|  | Class W (Cap) | -7,591.74 | -68.48 |
| b. | Administration and accounting | -1,664,304.38 | -1,820,806.59 |
| c. | Commercial remuneration | 72,283.18 |  |
| E. | Administrative expenses (-) | -158,971.58 |  |
| F. | Incorporation and organisation expenses (-) | -19,075.25 | -58,427.45 |
| G. | Salaries and wages, social security charges and pensions (-) | -16,628.70 | -7,450.11 |
| H. | Services and various goods (-) | -70,075.17 | -130,830.55 |
| I. | Depreciation and provisions for liabilities and charges (-) |  |  |
| J. | Taxes | -1,513,079.15 | -266,688.98 |
|  | Class A (Dis) | -814,773.34 | -78,640.22 |
|  | Class A EUR HEDGED (Dist) | -6,281.41 | -5,003.73 |
|  | Class B (Cap) | -500,840.86 | -80,070.49 |
|  | Class B EUR HEDGED (Cap) | -1,718.36 | -3,564.19 |
|  | Class E EUR HEDGED (Dist) | -74.64 | -116.93 |
|  | Class F (Cap) | -19,408.58 | -15,342.17 |
|  | Class F EUR HEDGED (Cap) | -1,815.81 | -1,744.63 |
|  | Class M (Dis) | -104,681.11 | -18,843.95 |
|  | Class M EUR HEDGED (Dist) | -39,484.48 | -38,144.12 |
|  | Class N (Cap) | -17,740.01 | -3,378.55 |
|  | Class N EUR HEDGED (Cap) | -726.54 | -8,819.77 |
|  | Class P (Cap) | -7,972.49 | -6,273.74 |
|  | Class P EUR HEDGED (Cap) | 2,769.95 | -6,729.02 |
|  | Class W (Cap) | -331.47 | -17.47 |
| K. | Other expenses (-) | 161,365.05 | 133,252.69 |
|  |  |  |  |
|  | Income and expenditure for the financial year Sub-Total II + III + IV | -13,347,431.64 | -9,310,652.83 |
|  |  |  |  |
| V. | Current profit (loss) before income tax | 155,226,650.87 | 271,425,135.97 |
|  |  |  |  |
| VI. | Income tax |  |  |
|  |  |  |  |
| VII. | Result of the financial year | 155,226,650.87 | 271,425,135.97 |

|  |  | 31 December 2020 EUR | 31 December 2019 EUR |
| --- | --- | --- | --- |
|  | Section 4: Allocation of the result |  |  |
|  |  |  |  |
| I. | Profit (loss) of the financial period | 755,459,630.75 | 609,015,861.20 |
| a. | Profit carried forward (Loss carried forward) from the previous period | 602,115,601.44 | 334,788,529.69 |
| b. | Profit (loss) of the financial year | 155,226,650.87 | 271,425,135.97 |
| c. | Income equalisation received (Income equalisation paid out) | -1,882,621.56 | 2,802,195.54 |
|  |  |  |  |
| II. | (Appropriation to) Deduction from the capital |  |  |
|  |  |  |  |
| III. | (Profit to be carried forward) Loss to be carried forward | -749,833,654.94 | -602,115,601.44 |
|  |  |  |  |
| IV. | Dividend distribution | -5,625,975.81 | -6,900,260.06 |

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Translation (ENFR, 2020-12-31):
# COMPTE DE RÉSULTATS GLOBALISÉ
|  |  | 31 décembre 2020 EUR | 31 décembre 2019 EUR |
| --- | --- | --- | --- |
|  | Section 3: Schéma du compte de résultats |  |  |
|  |  |  |  |
| I. | Réductions de valeur, moins-values et plus-values | 168.574.082,51 | 280.735.788,80 |
| A. | Obligations et autres titres de créance | 4.742.260,20 | 28.147.732,24 |
| a. | Obligations | 4.742.260,20 | 28.147.732,24 |
|  | Gain réalisé | 10.869.248,51 |  |
|  | Perte réalisée | -5.095.469,71 |  |
|  | Gain/Perte non-réalisé | -1.031.518,60 |  |
| B. | Instruments du marché monétaire | -14.674,55 | -1.588.770,67 |
|  | Gain réalisé | 1.304,01 |  |
|  | Perte réalisée | -19.285,93 |  |
|  | Gain/Perte non-réalisé | 3.307,37 |  |
| C. | Actions et autres valeurs assimilables à des actions | 1.959.377,71 | 6.892.677,55 |
| a. | Actions | 1.959.377,71 | 6.888.852,55 |
|  | Gain réalisé | 3.705.818,82 |  |
|  | Perte réalisée | -2.740.011,50 |  |
|  | Gain/Perte non-réalisé | 993.570,39 |  |
| b. | OPC à nombre fixe de parts |  | 3.825,00 |
| D. | Autres valeurs mobilières |  | 8.847,09 |
| E. | OPC à nombre variable de parts | 128.314.734,62 | 234.118.430,06 |
|  | Gain réalisé | 90.513.128,25 |  |
|  | Perte réalisée | -28.737.515,17 |  |
|  | Gain/Perte non-réalisé | 66.539.121,54 |  |
| F. | Instruments financiers dérivés | 21.722.117,81 | 9.798.673,67 |
| a. | Sur obligations | -2.183.634,52 | -1.820.446,14 |
| ii. | Contrats à terme | -2.183.634,52 | -1.820.446,14 |
|  | Gain/Perte réalisé | -2.219.366,72 |  |
|  | Gain/Perte non-réalisé | 35.732,20 |  |
| j. | Sur taux d'intérêt |  | 179.890,06 |
| ii. | Contrats à terme |  | 179.890,06 |
| l. | Sur indices financiers | 23.905.752,33 | 11.429.229,75 |
| ii. | Contrats à terme | 23.905.752,33 | 11.429.229,75 |
|  | Gain /Perte réalisée | 22.247.516,43 |  |
|  | Gain /Perte non-réalisée | 1.658.235,90 |  |
| m. | Sur instruments financiers dérivés |  | 10.000,00 |
| i. | Contrats d'option |  | 10.000,00 |
| G. | Créances, dépôts, liquidités et dettes |  |  |
| H. | Positions et opérations de change | 11.850.266,72 | 3.358.198,86 |
| a. | Instruments financiers dérivés | 15.443.571,50 | -9.429.574,11 |
| ii. | Contrats à terme | 15.443.571,50 | -9.429.574,11 |
|  | Gain /Perte réalisée | 10.789.690,76 |  |
|  | Gain /Perte non-réalisée | 4.653.880,74 |  |
| b. | Autres positions et opérations de change | -3.593.304,78 | 12.787.772,97 |
| iv. | Autres | -3.593.304,78 |  |
|  | Gain /Perte réalisée | -3.593.304,78 |  |
|  |  |  |  |
| II. | Produits et charges des placements | 8.673.919,37 | 9.174.408,53 |
| A. | Dividendes | 755.456,95 | 1.112.713,14 |
| B. | Intérêts (+/-) | 8.771.204,03 | 8.699.960,68 |
| a. | Valeurs mobilières et instruments du marché monétaire | 8.648.963,43 | 8.642.459,25 |
| b. | Dépôts et liquidités | 122.240,60 | 57.501,43 |
|  | Intérêts d'emprunts (-) | -708.139,82 | -413.735,38 |
|  | Contrats de swap (+/-) |  |  |
|  | Précomptes mobiliers (-) | -145.571,00 | -224.529,91 |
|  | D'origine belge | -59.527,98 |  |
|  | D'origine étrangère | -86.043,02 | -224.529,91 |
| F. | Autres produits provenant des placements | 969,21 |  |
|  |  |  |  |
| III. | Autres produits | 91,14 | 107.351,89 |
| 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 | 0,08 |  |
| B. | Autres | 91,06 | 107.351,89 |
|  |  |  |  |
| IV. | Coûts d'exploitation | -22.021.442,15 | -18.592.413,25 |
| A. | Frais de transaction et de livraison inhérents aux placements (-) | -267.239,85 | -633.415,52 |
| B. | Charges financières (-) | -127.910,23 |  |
| C. | Rémunération due au dépositaire (-) | -1.155.477,65 | -254.123,52 |
| D. | Rémunération due au gestionnaire (-) | -18.854.349,62 | -17.374.729,81 |
| a. | Gestion financière | -17.262.328,42 | -15.553.923,22 |
|  | Classe A (Dis) | -9.404.886,28 | -8.854.223,76 |
|  | Classe A EUR HEDGED (Dist) | -31.692,05 | -37.793,15 |

|  |  | 31 décembre 2020 EUR | 31 décembre 2019 EUR |
| --- | --- | --- | --- |
|  | Classe B (Cap) | -6.185.283,92 | -5.605.379,88 |
|  | Class B EUR HEDGED (Cap) | -28.066,59 | -23.936,80 |
|  | Class E EUR HEDGED (Dist) | -2.394,55 | -2.834,17 |
|  | Classe F (Cap) | -777.284,87 | -284.141,14 |
|  | Classe F EUR HEDGED (Cap) | -76.394,98 | -34.519,09 |
|  | Classe J EUR HEDGED (Cap) |  | -13.421,11 |
|  | Classe M (Dis) | -502.628,33 | -480.826,41 |
|  | Classe M EUR HEDGED (Dist) | -90.125,22 | -80.564,70 |
|  | Classe N (Cap) | -135.267,61 | -130.932,83 |
|  | Classe N EUR HEDGED (Cap) | -20.712,28 | -5.281,70 |
|  | Classe W (Cap) | -7.591,74 | -68,48 |
| b. | Gestion administrative et comptable | -1.664.304,38 | -1.820.806,59 |
| c. | Rémunération commerciale | 72.283,18 |  |
| E. | Frais administratifs (-) | -158.971,58 |  |
| F. | Frais d'établissement et d'organisation (-) | -19.075,25 | -58.427,45 |
| G. | Rémunérations, charges sociales et pensions (-) | -16.628,70 | -7.450,11 |
| H. | Services et biens divers (-) | -70.075,17 | -130.830,55 |
| I. | Amortissements et provisions pour risques et charges (-) |  |  |
| J. | Taxes | -1.513.079,15 | -266.688,98 |
|  | Classe A (Dis) | -814.773,34 | -78.640,22 |
|  | Classe A EUR HEDGED (Dist) | -6.281,41 | -5.003,73 |
|  | Classe B (Cap) | -500.840,86 | -80.070,49 |
|  | Classe B EUR HEDGED (Cap) | -1.718,36 | -3.564,19 |
|  | Classe E EUR HEDGED (Dist) | -74,64 | -116,93 |
|  | Classe F (Cap) | -19.408,58 | -15.342,17 |
|  | Classe F EUR HEDGED (Cap) | -1.815,81 | -1.744,63 |
|  | Classe M (Dis) | -104.681,11 | -18.843,95 |
|  | Classe M EUR HEDGED (Dist) | -39.484,48 | -38.144,12 |
|  | Classe N (Cap) | -17.740,01 | -3.378,55 |
|  | Classe N EUR HEDGED (Cap) | -726,54 | -8.819,77 |
|  | Classe P (Cap) | -7.972,49 | -6.273,74 |
|  | Classe P EUR HEDGED (Cap) | 2.769,95 | -6.729,02 |
|  | Classe W (Cap) | -331,47 | -17,47 |
| K. | Autres charges (-) | 161.365,05 | 133.252,69 |
|  |  |  |  |
|  | Produits et charges de l'exercice (du semestre) Sous-total II+III+IV | -13.347.431,64 | -9.310.652,83 |
|  |  |  |  |
| V. | Bénéfice courant (perte courante) avant impôts sur le résultat | 155.226.650,87 | 271.425.135,97 |
|  |  |  |  |
| VI. | Impôts sur le résultat |  |  |
|  |  |  |  |
| VII. | Résultat de l'exercice | 155.226.650,87 | 271.425.135,97 |

|  |  | 31 décembre 2020 EUR | 31 décembre 2019 EUR |
| --- | --- | --- | --- |
|  | Section 4: Affectation et prélèvements |  |  |
|  |  |  |  |
| I. | Bénéfice (Pertes) de la période à affecter | 755.459.630,75 | 609.015.861,20 |
| a. | Bénéfice reporté (Perte reportée) de la période précédente | 602.115.601,44 | 334.788.529,69 |
| b. | Bénéfice (Perte) de l'exercice à affecter | 155.226.650,87 | 271.425.135,97 |
| c. | Participations au résultat perçues (participations au résultat versées) | -1.882.621,56 | 2.802.195,54 |
|  |  |  |  |
| II. | (Affectations au) Prélèvements sur le capital |  |  |
|  |  |  |  |
| III. | (Bénéfice à reporter) Perte à reporter | -749.833.654,94 | -602.115.601,44 |
|  |  |  |  |
| IV. | (Distribution des dividendes) | -5.625.975,81 | -6.900.260,06 |

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