# GLOBALISED RESULT STATEMENTS
|  |  | 31 December 2020 EUR | 31 December 2019 EUR |
| --- | --- | --- | --- |
|  | Section 3: Income and expenditure account |  |  |
|  |  |  |  |
| I. | Depreciation, capital loss and capital gain | -184,380,175.07 | 987,417,155.45 |
| A. | Bonds and other debt securities | -1,008,773.61 | 8,421,730.18 |
| a. | Bonds | -1,008,773.61 | 8,421,730.18 |
|  | Realised gain | 836,606.89 | 1,794,227.08 |
|  | Realised loss | -3,669,813.69 | -555,723.15 |
|  | Unrealised gain and loss | 1,824,433.19 | 7,183,226.25 |
| B. | Money market instruments |  |  |
| C. | Shares and other securities similar to shares | -181,936,495.83 | 980,514,866.94 |
| a. | Shares | -181,907,695.83 | 980,901,759.28 |
|  | Realised gain | 230,428,244.15 | 324,821,369.77 |
|  | Realised loss | -572,880,524.92 | -79,268,484.45 |
|  | Unrealised gain and loss | 160,544,584.94 | 735,348,873.96 |
| b. | UCI with fixed number of shares | -28,800.00 | -386,892.34 |
|  | Realised gain |  | 2,515.05 |
|  | Realised loss | -28,800.00 | -72,951.72 |
|  | Unrealised gain and loss |  | -316,455.67 |
| D. | Other Transferable Securities | 80,310.46 | 72,461.56 |
|  | Realised gain | 39,893.99 | 72,461.56 |
|  | Unrealised gain and loss | 40,416.47 |  |
| E. | UCI with variable number of shares | -302,224.60 | 168,637.15 |
|  | Realised gain | 36,075.39 | 11,427.12 |
|  | Realised loss | -57,097.17 | -783.09 |
|  | Unrealised gain and loss | -281,202.82 | 157,993.12 |
| F. | financial derivatives | -308,252.51 | -1,466,827.86 |
| a. | On bonds | -689,230.00 | -2,012,100.00 |
| ii. | Futures | -689,230.00 | -2,012,100.00 |
|  | Realised gain and loss | -692,900.00 | -2,217,200.00 |
|  | Unrealised gain and loss | 3,670.00 | 205,100.00 |
| l. | On financial indexes | 380,977.49 | 545,272.14 |
| ii. | Futures | 380,977.49 | 545,272.14 |
|  | Realised gain and loss | 381,135.81 | 553,448.28 |
|  | Unrealised gain and loss | -158.32 | -8,176.14 |
| G. | Receivables, deposits, liquidity and payables |  |  |
| H. | Foreign exchange positions and transactions | -904,738.98 | -293,712.52 |
| a. | financial derivatives | -98,911.04 | -897.16 |
| ii. | Futures and forward contracts | -98,911.04 | -897.16 |
|  | Realised gain and loss | -98,911.04 | -897.16 |
| b. | Other exchange positions and operations | -805,827.94 | -292,815.36 |
| iv. | Other | -805,827.94 | -292,815.36 |
|  | Realised gain and loss | -805,827.94 | -213,469.09 |
|  | Unrealised gain and loss |  | -79,346.27 |
|  |  |  |  |
| II. | Investment income and expenses | 75,188,251.11 | 129,283,083.71 |
| A. | Dividends | 75,974,339.73 | 133,947,674.93 |
| B. | Interest (+/-) | 8,553,993.02 | 10,302,701.60 |
| a. | Transferable securities and money market instruments | 8,261,710.36 | 10,251,284.61 |
| b. | Deposits and liquidity | 292,282.66 | 51,416.99 |
|  | Interest on loans (-) | -156,530.60 | -149,109.61 |
|  | Swap contracts (+/-) |  |  |
|  | Withholding tax (-) | -9,330,005.71 | -15,070,116.61 |
|  | Belgian | -1,271,210.71 | -1,403,557.85 |
|  | Foreign | -8,058,795.00 | -13,666,558.76 |
| F. | Other investment income | 146,454.67 | 251,933.40 |
|  |  |  |  |
| III. | Other income | 2,242,093.47 | 1,360,737.09 |
| A. | Anti dilution fee | 2,242,093.46 | 1,103,159.62 |
| B. | Other | 0.01 | 257,577.47 |
|  |  |  |  |
| IV. | Operating expenses | -22,458,737.31 | -28,234,227.40 |
| A. | Investment transaction and delivery costs (-) | -8,686,057.84 | -8,550,470.05 |
| B. | Financial expenses (-) | -4,689.24 | -26,060.24 |
| C. | Custodian’s fee (-) | -931,164.03 | -908,978.29 |
| D. | Manager’s fee (-) | -13,301,216.68 | -17,130,739.38 |
| a. | Financial Management of the Portfolio | -10,045,734.99 | -12,427,186.27 |
|  | Class A (Dis) | -287,981.21 | -266,235.78 |
|  | Class A USD (Dis) | -4,618.17 | -11,937.77 |
|  | Class B (Cap) | -2,875,743.47 | -3,487,811.55 |
|  | Class B USD (Cap) | -426,216.04 | -515,634.41 |
|  | Class E (Dis) | -8,869.56 | -15,111.85 |

|  |  | 31 December 2020 EUR | 31 December 2019 EUR |
| --- | --- | --- | --- |
|  | Class F (Cap) | -2,198,055.82 | -2,854,119.25 |
|  | Class J (Cap) | -3,126,301.58 | -4,104,823.83 |
|  | Class L (Cap) | -8,335.46 | -10,955.18 |
|  | Class L USD (Cap) | -833.63 | -1,190.30 |
|  | Class M (Dis) | -324,460.30 | -221,141.85 |
|  | Class N (Cap) | -615,742.73 | -797,423.42 |
|  | Class P (Cap) | 1,112.74 | -112.63 |
|  | Class V (Dis) | -2,456.15 | -865.00 |
|  | Class W (Cap) | -12,137.64 | -15,327.22 |
|  | Class M USD (Cap) | -2,026.14 | -1,395.86 |
|  | Class N USD (Dis) | -153,069.83 | -123,100.37 |
| b. | Administration and accounting | -3,255,481.69 | -4,703,553.11 |
| E. | Administrative expenses (-) | -571,189.51 | -337,601.58 |
| F. | Incorporation and organisation expenses (-) | -26,254.49 | -21,337.91 |
| G. | Salaries and wages, social security charges and pensions (-) | -4,512.71 | -10,316.58 |
| H. | Services and various goods (-) | -217,025.75 | -541,864.53 |
| I. | Depreciation and provisions for liabilities and charges (-) |  |  |
| J. | Taxes | -567,265.28 | -706,657.87 |
|  | Class A (Dis) | -80,262.23 | -64,725.50 |
|  | Class A USD (Dis) | -1,004.97 | -1,499.09 |
|  | Class B (Cap) | -160,653.67 | -242,797.52 |
|  | Class B USD (Cap) | -4,656.32 | -5,634.05 |
|  | Class E (Dis) | 44.09 | -538.63 |
|  | Class F (Cap) | -41,553.95 | -54,897.92 |
|  | Class J (Cap) | 9,668.49 | 49.01 |
|  | Class L (Cap) | -144.43 | -240.79 |
|  | Class L USD (Cap) | 0.02 | 0.17 |
|  | Class M (Dis) | -182,930.49 | -118,801.74 |
|  | Class N (Cap) | -106,708.82 | -158,490.66 |
|  | Class P (Cap) | 3,728.78 | -1,366.46 |
|  | Class T (Dis) |  | -56,000.00 |
|  | Class V (Dis) | 3.31 |  |
|  | Class W (Cap) | -24.32 | 0.93 |
|  | Class N USD (Cap) | -2,731.63 | -1,715.16 |
|  | Class M USD (Dis) | -39.14 | -0.46 |
| K. | Other expenses (-) | 1,850,638.22 | -200.97 |
|  |  |  |  |
|  | Income and expenditure for the financial year Sub-Total II + III + IV | 54,971,607.27 | 102,409,593.40 |
|  |  |  |  |
| V. | Current profit (loss) before income tax | -129,408,567.80 | 1,089,826,748.85 |
|  |  |  |  |
| VI. | Income tax |  |  |
|  |  |  |  |
| VII. | Result of the financial year | -129,408,567.80 | 1,089,826,748.85 |

|  |  | 31 December 2020 EUR | 31 December 2019 EUR |
| --- | --- | --- | --- |
|  | Section 4: Allocation of the result |  |  |
|  |  |  |  |
| I. | Profit (loss) of the financial period | 994,346,536.83 | 1,052,216,169.36 |
| a. | Profit carried forward (Loss carried forward) from the previous period |  |  |
| b. | Profit (loss) of the financial year | -129,408,567.80 | 1,089,826,748.85 |
| c. | Income equalisation received (Income equalisation paid out) | 74,686,856.08 | -37,610,579.49 |
|  |  |  |  |
| II. | (Appropriation to) Deduction from the capital |  |  |
|  |  |  |  |
| III. | (Profit to be carried forward) Loss to be carried forward | -993.117.248,29 | -1,049,068,248.55 |
|  |  |  |  |
| IV. | Dividend distribution | -1.229.288.54 | -3,147,920.81 |

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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 | -184.380.175,07 | 987.417.155,45 |
| A. | Obligations et autres titres de créance | -1.008.773,61 | 8.421.730,18 |
| a. | Obligations | -1.008.773,61 | 8.421.730,18 |
|  | Gain réalisé | 836.606,89 | 1.794.227,08 |
|  | Perte réalisée | -3.669.813,69 | -555.723,15 |
|  | Gain/Perte non-réalisé | 1.824.433,19 | 7.183.226,25 |
| B. | Instruments du marché monétaire |  |  |
| C. | Actions et autres valeurs assimilables à des actions | -181.936.495,83 | 980.514.866,94 |
| a. | Actions | -181.907.695,83 | 980.901.759,28 |
|  | Gain réalisé | 230.428.244,15 | 324.821.369,77 |
|  | Perte réalisée | -572.880.524,92 | -79.268.484,45 |
|  | Gain/Perte non-réalisé | 160.544.584,94 | 735.348.873,96 |
| b. | OPC à nombre fixe de parts | -28.800,00 | -386.892,34 |
|  | Gain réalisé |  | 2.515,05 |
|  | Perte réalisée | -28.800,00 | -72.951,72 |
|  | Gain/Perte non-réalisé |  | -316.455,67 |
| D. | Autres valeurs mobilières | 80.310,46 | 72.461,56 |
|  | Gain réalisé | 39.893,99 | 72.461,56 |
|  | Gain/Perte non-réalisé | 40.416,47 |  |
| E. | OPC à nombre variable de parts | -302.224,60 | 168.637,15 |
|  | Gain réalisé | 36.075,39 | 11.427,12 |
|  | Perte réalisée | -57.097,17 | -783,09 |
|  | Gain/Perte non-réalisé | -281.202,82 | 157.993,12 |
| F. | Instruments financiers dérivés | -308.252,51 | -1.466.827,86 |
| a. | Sur obligations | -689.230,00 | -2.012.100,00 |
| ii. | Contrats à terme | -689.230,00 | -2.012.100,00 |
|  | Gain/Perte réalisé | -692.900,00 | -2.217.200,00 |
|  | Gain/Perte non-réalisé | 3.670,00 | 205.100,00 |
| l. | Sur indices financiers | 380.977,49 | 545.272,14 |
| ii. | Contrats à terme | 380.977,49 | 545.272,14 |
|  | Gain /Perte réalisée | 381.135,81 | 553.448,28 |
|  | Gain /Perte non-réalisée | -158,32 | -8.176,14 |
| G. | Créances, dépôts, liquidités et dettes |  |  |
| H. | Positions et opérations de change | -904.738,98 | -293.712,52 |
| a. | Instruments financiers dérivés | -98.911,04 | -897,16 |
| ii. | Contrats à terme | -98.911,04 | -897,16 |
|  | Gain /Perte réalisée | -98.911,04 | -897,16 |
| b. | Autres positions et opérations de change | -805.827,94 | -292.815,36 |
| iv. | Autres | -805.827,94 | -292.815,36 |
|  | Gain /Perte réalisée | -805.827,94 | -213.469,09 |
|  | Gain /Perte non-réalisée |  | -79.346,27 |
|  |  |  |  |
| II. | Produits et charges des placements | 75.188.251,11 | 129.283.083,71 |
| A. | Dividendes | 75.974.339,73 | 133.947.674,93 |
| B. | Intérêts (+/-) | 8.553.993,02 | 10.302.701,60 |
| a. | Valeurs mobilières et instruments du marché monétaire | 8.261.710,36 | 10.251.284,61 |
| b. | Dépôts et liquidités | 292.282,66 | 51.416,99 |
|  | Intérêts d'emprunts (-) | -156.530,60 | -149.109,61 |
|  | Contrats de swap (+/-) |  |  |
|  | Précomptes mobiliers (-) | -9.330.005,71 | -15.070.116,61 |
|  | D'origine belge | -1.271.210,71 | -1.403.557,85 |
|  | D'origine étrangère | -8.058.795,00 | -13.666.558,76 |
| F. | Autres produits provenant des placements | 146.454,67 | 251.933,40 |
|  |  |  |  |
| III. | Autres produits | 2.242.093,47 | 1.360.737,09 |
| 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 | 2.242.093,46 | 1.103.159,62 |
| B. | Autres | 0,01 | 257.577,47 |
|  |  |  |  |
| IV. | Coûts d'exploitation | -22.458.737,31 | -28.234.227,40 |
| A. | Frais de transaction et de livraison inhérents aux placements (-) | -8.686.057,84 | -8.550.470,05 |
| B. | Charges financières (-) | -4.689,24 | -26.060,24 |
| C. | Rémunération due au dépositaire (-) | -931.164,03 | -908.978,29 |
| D. | Rémunération due au gestionnaire (-) | -13.301.216,68 | -17.130.739,38 |
| a. | Gestion financière | -10.045.734,99 | -12.427.186,27 |
|  | Classe A (Dis) | -287.981,21 | -266.235,78 |
|  | Classe A USD (Dis) | -4.618,17 | -11.937,77 |
|  | Classe B (Cap) | -2.875.743,47 | -3.487.811,55 |
|  | Classe B USD (Cap) | -426.216,04 | -515.634,41 |
|  | Classe E (Dis) | -8.869,56 | -15.111,85 |

|  |  | 31 décembre 2020 EUR | 31 décembre 2019 EUR |
| --- | --- | --- | --- |
|  | Classe F (Cap) | -2.198.055,82 | -2.854.119,25 |
|  | Classe J (Cap) | -3.126.301,58 | -4.104.823,83 |
|  | Classe L (Cap) | -8.335,46 | -10.955,18 |
|  | Classe L USD (Cap) | -833,63 | -1.190,30 |
|  | Classe M (Dis) | -324.460,30 | -221.141,85 |
|  | Classe N (Cap) | -615.742,73 | -797.423,42 |
|  | Classe P (Cap) | 1.112,74 | -112,63 |
|  | Classe V (Dis) | -2.456,15 | -865,00 |
|  | Classe W (Cap) | -12.137,64 | -15.327,22 |
|  | Classe M USD (Cap) | -2.026,14 | -1.395,86 |
|  | Classe N USD (Dis) | -153.069,83 | -123.100,37 |
| b. | Gestion administrative et comptable | -3.255.481,69 | -4.703.553,11 |
| E. | Frais administratifs (-) | -571.189,51 | -337.601,58 |
| F. | Frais d'établissement et d'organisation (-) | -26.254,49 | -21.337,91 |
| G. | Rémunérations, charges sociales et pensions (-) | -4.512,71 | -10.316,58 |
| H. | Services et biens divers (-) | -217.025,75 | -541.864,53 |
| I. | Amortissements et provisions pour risques et charges (-) |  |  |
| J. | Taxes | -567.265,28 | -706.657,87 |
|  | Classe A (Dis) | -80.262,23 | -64.725,50 |
|  | Classe A USD (Dis) | -1.004,97 | -1.499,09 |
|  | Classe B (Cap) | -160.653,67 | -242.797,52 |
|  | Classe B USD (Cap) | -4.656,32 | -5.634,05 |
|  | Classe E (Dis) | 44,09 | -538,63 |
|  | Classe F (Cap) | -41.553,95 | -54.897,92 |
|  | Classe J (Cap) | 9.668,49 | 49,01 |
|  | Classe L (Cap) | -144,43 | -240,79 |
|  | Classe L USD (Cap) | 0,02 | 0,17 |
|  | Classe M (Dis) | -182.930,49 | -118.801,74 |
|  | Classe N (Cap) | -106.708,82 | -158.490,66 |
|  | Classe P (Cap) | 3.728,78 | -1.366,46 |
|  | Classe T (Dis) |  | -56.000,00 |
|  | Classe V (Dis) | 3,31 |  |
|  | Classe W (Cap) | -24,32 | 0,93 |
|  | Classe N USD (Cap) | -2.731,63 | -1.715,16 |
|  | Classe M USD (Dis) | -39,14 | -0,46 |
| K. | Autres charges (-) | 1.850.638,22 | -200,97 |
|  |  |  |  |
|  | Produits et charges de l'exercice (du semestre) Sous-total II+III+IV | 54.971.607,27 | 102.409.593,40 |
|  |  |  |  |
| V. | Bénéfice courant (perte courante) avant impôts sur le résultat | -129.408.567,80 | 1.089.826.748,85 |
|  |  |  |  |
| VI. | Impôts sur le résultat |  |  |
|  |  |  |  |
| VII. | Résultat de l'exercice | -129.408.567,80 | 1.089.826.748,85 |

|  |  | 31 décembre 2020 EUR | 31 décembre 2019 EUR |
| --- | --- | --- | --- |
|  | Section 4: Affectation et prélèvements |  |  |
|  |  |  |  |
| I. | Bénéfice (Pertes) de la période à affecter | 994.346.536,83 | 1.052.216.169,36 |
| a. | Bénéfice reporté (Perte reportée) de la période précédente |  |  |
| b. | Bénéfice (Perte) de l'exercice à affecter | -129.408.567,80 | 1.089.826.748,85 |
| c. | Participations au résultat perçues (participations au résultat versées) | 74.686.856,08 | -37.610.579,49 |
|  |  |  |  |
| II. | (Affectations au) Prélèvements sur le capital |  |  |
|  |  |  |  |
| III. | (Bénéfice à reporter) Perte à reporter | -993.117.248,29 | -1.049.068.248,55 |
|  |  |  |  |
| IV. | (Distribution des dividendes) | -1.229.288.54 | -3.147.920,81 |

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