annual accounts and other documents to be … file20 1 nat. filing date nr. p. e. d. a 1 annual...

20 1

NAT. Filing date Nr. P. E. D. A 1

ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED UNDER

BELGIAN COMPANY LAW

IDENTIFICATION DETAILS

NAME: .........................................................................................................................................................................................................

.....................................................................................................................................................................................................................

Legal form: ..................................................................................................................................................................................................

Address: ................................................................................................................................................... Nr.: ................... Box: ...............

Postal code: ............................. Municipality: ...........................................................................................................................................

Country: .......................................................

Register of legal persons – commercial court ..............................................................................................................................................

Website address 1: . .....................................................................................................................................................................

Company identification number

DATE / / of filing the memorandum of association OR of the most recent document mentioning

the date of publication of the memorandum of association and of the act amending the articles of association.

ANNUAL ACCOUNTS

approved by the general meeting of / /

Regarding the financial year from / / to / /

Preceding financial year from / / to / /

The amounts for the preceding period are / are not2 identical to the ones previously published.

Total number of pages filed: ................................... Numbers of sections of the standard form not filed because they serve no useful

purpose: ......................................................................................................................................................................................................

1 Optional information. 2 Strike out what is not applicable.

TECHNOLOGIEPARK 3 26

9052 Zwijnaarde

Belgium

Gent, Division Gent

BE 0836.533.938

28 08 2017

25 05 2018

01 01 2017 31 12 2017

01 01 2016 31 12 2016

XXXXX

23

6.7, 6.9, 7.2, 9, 10, 11

EUR

ANNUAL ACCOUNTS IN EUROS (2 decimals)

INVIBES ADVERTISING

Public limited company

Signature(name and position)

Signature(name and position)

OCR9002

Nr. A 2.1

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS

AND DECLARATION REGARDING A COMPLIMENTARY REVIEW

OR CORRECTION ASSIGNMENT

LIST OF THE DIRECTORS, BUSINESS MANAGERS AND AUDITORS

COMPLETE LIST with surname, first names, profession, place of residence (address, number, postal code and municipality) and

position within the company

BE 0836.533.938

Nemo Services BVBANr.: BE 0861.454.129Hettingen 47, 9860 Oosterzele, Belgium

Director20/05/2016 - 22/05/2022

Represented by:

Kris VlaemynckHettingen 47, 9860 Oosterzele, Belgium

NP Finance SociétéReu des Petites Ecuries 24, 75010 Parijs (10) - France, France

Director20/05/2016 - 22/05/2022

Represented by:

Nicolas PolletRue des Petites Ecuries 24, 75010 Parijs (10) - France, France

Elewaut & Co BVBANr.: BE 0466.979.873Zeedijk 22 box 9.01, 8370 Blankenberge, Belgium

Director20/05/2016 - 22/05/2022

Represented by:

Frank ElewautGuido Gezellestraat 46, 8020 Oostkamp, Belgium

eFCee BVBANr.: BE 0807.357.130Lange Munte 72 box A, 9860 Oosterzele, Belgium

Director20/05/2016 - 22/05/2022

Represented by:

Filip CalliauLange Munte 72 box A, 9860 Oosterzele, Belgium

Marc VanlerbergheSesame Court 1224, CA 9408 Sunnyvale, United States

Director20/05/2016 - 22/05/2022

Stefan RenningerChemin du Couchant 8, 1185 Mont-sur-Rolle, Switzerland

Director20/05/2016 - 22/05/2022

Martine Buysse(Company auditor)Eedstraat 80, 9052 Zwijnaarde, Belgium

Auditor20/05/2016 - 24/05/2019

Balansanalyse - A2017 - 2 / 23

Nr. A 2.2

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

The managing board declares that no audit or correction assignment has been given to a person who was not authorised to do so by

law, pursuant to art. 34 and 37 of the law of 22th April 1999 concerning accounting and tax professions.

The annual accounts were / were not∗∗∗∗ audited or corrected by an external accountant or by a company auditor who is not the

statutory auditor.

If affirmative, mention hereafter: surname, first names, profession and address of each external accountant or company auditor and

his membership number with his Institute as well as the nature of his assignment:

A. Bookkeeping of the enterprise ∗∗,

B. Preparing the annual accounts ∗∗,

C. Auditing the annual accounts and/or

D. Correcting the annual accounts.

If the tasks mentioned under A. or B. are executed by certified accountants or certified bookkeepers - tax specialists, you can mention

hereafter: surname, first names, profession and address of each certified accountant or certified bookkeeper - tax specialist and

his/her affiliation number with the Institute of Accounting Professional and Tax Experts and the nature of his/her assignment.

Surname, first names, profession and address Affiliation number Nature of the assignment

(A, B, C and/or D)

∗ Strike out what is not applicable. ∗∗ Optional information.

BE 0836.533.938


XXX


ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

Discl. Codes Period Preceding period

ASSETS

FORMATION EXPENSES ............................................................. 20 ............................. .............................

FIXED ASSETS ............................................................................ 21/28 2.314.167,28 2.088.560,82

Intangible fixed assets ............................................................. 6.1.1 21 842.699,37 628.123,72

Tangible fixed assets ............................................................... 6.1.2 22/27 422,91 392,10

Land and buildings ................................................................ 22 ............................. .............................

Plant, machinery and equipment ........................................... 23 ............................. .............................

Furniture and vehicles ........................................................... 24 422,91 392,10

Leasing and similar rights ...................................................... 25 ............................. .............................

Other tangible fixed assets .................................................... 26 ............................. .............................

Assets under construction and advance payments ............... 27 ............................. .............................

Financial fixed assets .............................................................. 6.1.3 28 1.471.045,00 1.460.045,00

CURRENT ASSETS ...................................................................... 29/58 1.251.650,84 447.582,49

Amounts receivable after more than one year ...................... 29 ............................. .............................

Trade debtors ........................................................................ 290 ............................. .............................

Other amounts receivable ..................................................... 291 ............................. .............................

Stocks and contracts in progress .......................................... 3 ............................. .............................

Stocks .................................................................................... 30/36 ............................. .............................

Contracts in progress ............................................................ 37 ............................. .............................

Amounts receivable within one year ...................................... 40/41 324.350,87 338.582,84

Trade debtors ........................................................................ 40 249.907,10 267.048,19

Other amounts receivable ..................................................... 41 74.443,77 71.534,65

Current investments ................................................................ 50/53 ............................. .............................

Cash at bank and in hand ........................................................ 54/58 913.006,85 92.383,94

Deferred charges and accrued income .................................. 490/1 14.293,12 16.615,71

TOTAL ASSETS ........................................................................ 20/58 3.565.818,12 2.536.143,31

Nr. A 3.1BE 0836.533.938



EQUITY AND LIABILITIES

EQUITY ....................................................................................... 10/15 2.302.879,35 1.715.843,64

Capital ....................................................................................... 10 2.164.985,11 2.732.778,71

Issued capital ......................................................................... 100 2.164.985,11 2.732.778,71

Uncalled capital 4 ................................................................... 101 ............................. .............................

Share premium account .......................................................... 11 ............................. .............................

Revaluation surpluses ............................................................. 12 ............................. .............................

Reserves ................................................................................... 13 137.894,24 855,87

Legal reserve ......................................................................... 130 137.894,24 855,87

Reserves not available .......................................................... 131 ............................. .............................

In respect of own shares held ........................................... 1310 ............................. .............................

Other ................................................................................. 1311 ............................. .............................

Untaxed reserves .................................................................. 132 ............................. .............................

Available reserves ................................................................. 133 ............................. .............................

Accumulated profits (losses) ........................................(+)/(-) 14 ............................. -1.017.790,94

Investment grants .................................................................... 15 ............................. .............................

Advance to associates on the sharing out of the assets 5 ... 19 ............................. .............................

PROVISIONS AND DEFERRED TAXES ......................................... 16 ............................. .............................

Provisions for liabilities and charges ..................................... 160/5 ............................. .............................

Pensions and similar obligations ........................................... 160 ............................. .............................

Taxation ................................................................................. 161 ............................. .............................

Major repairs and maintenance ............................................. 162 ............................. .............................

Environmental obligations ..................................................... 163 ............................. .............................

Other liabilities and charges .................................................. 164/5 ............................. .............................

Deferred taxes .......................................................................... 168 ............................. .............................

__________________________4 Amount to substract of the issued capital

5 Amount to substract from the other part of the equity

Nr. A 3.2BE 0836.533.938



AMOUNTS PAYABLE ................................................................... 17/49 1.262.938,77 820.299,67

Amounts payable after more than one year .......................... 6.3 17 1.088.660,61 705.035,64

Financial debts ...................................................................... 170/4 1.088.660,61 705.035,64

Credit institutions, leasing and other similar obligations ... 172/3 388.660,61 305.035,64

Other loans ....................................................................... 174/0 700.000,00 400.000,00

Trade debts ........................................................................... 175 ............................. .............................

Advances received on contracts in progress ......................... 176 ............................. .............................

Other amounts payable ......................................................... 178/9 ............................. .............................

Amounts payable within one year .......................................... 6.3 42/48 169.264,57 114.198,74Current portion of amounts payable after more than one yearfalling due within one year ..................................................... 42 151.051,06 87.565,35

Financial debts ...................................................................... 43 ............................. .............................

Credit institutions .............................................................. 430/8 ............................. .............................

Other loans ....................................................................... 439 ............................. .............................

Trade debts ........................................................................... 44 17.317,63 26.633,39

Suppliers ........................................................................... 440/4 17.317,63 26.633,39

Bills of exchange payable ................................................. 441 ............................. .............................

Advances received on contracts in progress ......................... 46 ............................. .............................

Taxes, remuneration and social security ............................... 45 ............................. .............................

Taxes ................................................................................ 450/3 ............................. .............................

Remuneration and social security ..................................... 454/9 ............................. .............................

Other amounts payable ......................................................... 47/48 895,88 .............................

Accruals and deferred income ................................................ 492/3 5.013,59 1.065,29

TOTAL LIABILITIES .................................................................. 10/49 3.565.818,12 2.536.143,31

Nr. A 3.2BE 0836.533.938


INCOME STATEMENT


Operating income and chargesGross operating margin ...............................................(+)/(-) 9900 477.222,37 388.531,75

Of which produits d'exploitation non récurrents ................ 76A ............................. .............................

Turnover* .......................................................................... 70 ............................. .............................

Raw materials, consumables, services and other goods* 60/61 ............................. .............................

Remuneration, social security costs and pensions ......(+)/(-) 6.4 62 ............................. .............................Depreciation of and other amounts written off formationexpenses, intangible and tangible fixed assets ..................... 630 321.163,36 244.181,68Amounts written off stocks, contracts in progress and tradedebtors: Appropriations (write-backs) ..........................(+)/(-) 631/4 ............................. .............................Provisions for liabilities and charges: Appropriations (usesand write-backs) ..........................................................(+)/(-) 635/8 ............................. .............................

Other operating charges ........................................................ 640/8 5.193,61 2.106,51

Operating charges carried to assets as restructuring costs(-) 649 ............................. .............................

Non-recurring operating charges ........................................... 66A ............................. 132.544,34

Operating profit (loss) ....................................................(+)/(-) 9901 150.865,40 9.699,22

Financial income ...................................................................... 6.4 75/76B 3.719,66 733.401,81

Recurring financial income .................................................... 75 3.719,66 3.401,81

Of which: investment grants and interest subsidies .......... 753 ............................. .............................

Non-recurring financial income .............................................. 76B ............................. 730.000,00

Financial charges ..................................................................... 6.4 65/66B 17.546,69 757.134,97

Recurring financial charges ................................................... 65 17.546,69 27.134,97

Non-recurring financial charges ............................................. 66B ............................. 730.000,00

Gain (loss) for the period before taxes ........................(+)/(-) 9903 137.038,37 -14.033,94

Transfer from deferred taxes .................................................. 780 ............................. .............................

Transfer to deferred taxes ....................................................... 680 ............................. .............................

Income taxes ...................................................................(+)/(-) 67/77 ............................. .............................

Gain (loss) of the period ................................................(+)/(-) 9904 137.038,37 -14.033,94

Transfer from untaxed reserves ............................................. 789 ............................. .............................

Transfer to untaxed reserves .................................................. 689 ............................. .............................

Gain (loss) of the period available for appropriation ..(+)/(-) 9905 137.038,37 -14.033,94

* Optional information.

Nr. A 4BE 0836.533.938


APPROPRIATION ACCOUNT

Codes Period Preceding period

Profit (loss) to be appropriated ..............................................................(+)/(-) 9906 -880.752,57 -1.017.790,94

Gain (loss) of the period available for appropriation .............................(+)/(-) (9905) 137.038,37 -14.033,94

Profit (loss) brought forward .................................................................(+)/(-) 14P -1.017.790,94 -1.003.757,00

Withdrawals from capital and reserves ........................................................... 791/2 1.017.790,94 .............................

Transfer to capital and reserves ...................................................................... 691/2 137.038,37 .............................

to capital and share premium account ............................................................ 691 ............................. .............................

to legal reserve ............................................................................................... 6920 137.038,37 .............................

to other reserves ............................................................................................. 6921 ............................. .............................

Accumulated profits (losses) .................................................................(+)/(-) (14) ............................. -1.017.790,94

Owners' contribution in respect of losses ...................................................... 794 ............................. .............................

Profit to be distributed ...................................................................................... 694/7 ............................. .............................

Dividends ........................................................................................................ 694 ............................. .............................

Directors' or managers' entitlements .............................................................. 695 ............................. .............................

Employees ...................................................................................................... 696 ............................. .............................

Other beneficiaries .......................................................................................... 697 ............................. .............................

Nr. A 5BE 0836.533.938


EXPLANATORY DISCLOSURES

STATEMENT OF FIXED ASSETS


INTANGIBLE FIXED ASSETS

Acquisition value at the end of the period ...................................................... 8059P xxxxxxxxxxxxxxx 1.176.861,94

Movements during the periodAcquisitions, including produced fixed assets ................................................ 8029 535.135,71

Sales and disposals ........................................................................................ 8039 ........................

Transfers from one heading to another ................................................(+)/(-) 8049 ........................

Acquisition value at the end of the period ...................................................... 8059 1.711.997,65

Depreciations and amounts written down at the end of the period ............. 8129P xxxxxxxxxxxxxxx 548.738,22

Movements during the periodRecorded ........................................................................................................ 8079 320.560,06

Written back .................................................................................................... 8089 ........................

Acquisitions from third parties ......................................................................... 8099 ........................

Cancelled owing to sales and disposals ......................................................... 8109 ........................

Transferred from one heading to another .............................................(+)/(-) 8119 ........................

Depreciations and amounts written down at the end of the period ............. 8129 869.298,28

NET BOOK VALUE AT THE END OF THE PERIOD .................................................. (21) 842.699,37

Nr. A 6.1.1BE 0836.533.938



TANGIBLE FIXED ASSETS

Acquisition value at the end of the period ...................................................... 8199P xxxxxxxxxxxxxxx 13.827,26

Movements during the periodAcquisitions, including produced fixed assets ................................................ 8169 634,11



Acquisition value at the end of the period ...................................................... 8199 14.461,37

Revaluation surpluses at the end of the period ............................................. 8259P xxxxxxxxxxxxxxx ........................

Movements during the periodRecorded ........................................................................................................ 8219 ........................


Cancelled ........................................................................................................ 8239 ........................


Revaluation surpluses at the end of the period ............................................. 8259 ........................

Depreciations and amounts written down at the end of the period ............. 8329P xxxxxxxxxxxxxxx 13.435,16

Movements during the periodRecorded ........................................................................................................ 8279 603,30

Written back .................................................................................................... 8289 ........................




Depreciations and amounts written down at the end of the period ............. 8329 14.038,46

NET BOOK VALUE AT THE END OF THE PERIOD .................................................. (22/27) 422,91

Nr. A 6.1.2BE 0836.533.938



FINANCIAL FIXED ASSETS

Acquisition value at the end of the period ...................................................... 8395P xxxxxxxxxxxxxxx 1.460.054,50

Movements during the periodAcquisitions ..................................................................................................... 8365 11.000,00



Other movements .................................................................................(+)/(-) 8386 ........................

Acquisition value at the end of the period ...................................................... 8395 1.471.054,50

Revaluation surpluses at the end of the period ............................................. 8455P xxxxxxxxxxxxxxx ........................



Cancelled ........................................................................................................ 8435 ........................


Revaluation surpluses at the end of the period ............................................. 8455 ........................

Amounts written down at the end of the period ............................................. 8525P xxxxxxxxxxxxxxx ........................


Written back .................................................................................................... 8485 ........................




Amounts written down at the end of the period ............................................. 8525 ........................

Uncalled amounts at the end of the period ..................................................... 8555P xxxxxxxxxxxxxxx 9,50

Movements during the period ................................................................(+)/(-) 8545 ........................

Uncalled amounts at the end of the period ..................................................... 8555 9,50

NET BOOK VALUE AT THE END OF THE PERIOD .................................................. (28) 1.471.045,00

Nr. A 6.1.3BE 0836.533.938


STATEMENT OF CAPITAL

Codes Period

OWN SHARES

Held by the company itself

Amount of capital held .................................................................................................................... 8721 ........................

Corresponding number of shares ................................................................................................... 8722 ........................

Held by the subsidiaries

Amount of capital held .................................................................................................................... 8731 199.995,12

Corresponding number of shares ................................................................................................... 8732 43.056

Nr. A 6.2BE 0836.533.938


STATEMENT OF AMOUNTS PAYABLE

Codes Period

BREAKDOWN OF AMOUNTS PAYABLE WITH AN ORIGINAL PERIOD TO MATURITY OF MORE THAN ONE

YEAR, ACCORDING TO THEIR RESIDUAL TERM

Total current portion of amounts payable after more than one year falling due within one year .. (42) 151.051,06

Total amounts payable with a remaining term of more than one but not more than five years .... 8912 1.088.660,61

Total amounts payable with a remaining term of more than five years ........................................... 8913 ........................

GUARANTEED AMOUNTS PAYABLE (included in headings 17 and 42/48 of the liabilities)

Amounts payable guaranteed by Belgian public authoritiesFinancial debts .................................................................................................................................... 8921 ........................

Credit institution, leasing and similar obligations ............................................................................ 891 ........................

Other loans ..................................................................................................................................... 901 ........................

Trade debts ......................................................................................................................................... 8981 ........................

Suppliers ........................................................................................................................................ 8991 ........................

Bills of exchange payable ............................................................................................................... 9001 ........................

Advance payments received on contracts in progress ........................................................................ 9011 ........................

Remuneration and social security ....................................................................................................... 9021 ........................

Other amounts payable ....................................................................................................................... 9051 ........................

Total amounts payable guaranteed by Belgian public authorities ................................................... 9061 ........................

Amounts payable guaranteed by real securities or irrevocably promised by the enterprise on itsown assets

Financial debts .................................................................................................................................... 8922 539.711,67

Credit institutions, leasing and similar obligations .......................................................................... 892 539.711,67

Other loans ..................................................................................................................................... 902 ........................

Trade debts ......................................................................................................................................... 8982 ........................

Suppliers ........................................................................................................................................ 8992 ........................

Bills of exchange payable ............................................................................................................... 9002 ........................

Advance payments received on contracts in progress ........................................................................ 9012 ........................

Taxes, remuneration and social security ............................................................................................. 9022 ........................

Taxes .............................................................................................................................................. 9032 ........................

Remuneration and social security .................................................................................................. 9042 ........................

Other amounts payable ....................................................................................................................... 9052 ........................

Total amounts payable guaranteed by real securities or irrevocably promised by the enterpriseon its own assets ................................................................................................................................... 9062 539.711,67

Nr. A 6.3BE 0836.533.938


RESULTS


PERSONNEL AND REMUNERATION SOCIAL SECURITY PENSIONS

Employees for whom the enterprise submitted a DIMONA declaration orwho are recorded in the general personnel register

Average number of employees calculated in full-time equivalents ................. 9087 ............................. .............................

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

Non recurring income ....................................................................................... 76 ............................. 730.000,00

Non-recurring operating income ..................................................................... (76A) ............................. .............................

Non-recurring financial income ....................................................................... (76B) ............................. 730.000,00

Non-recurring expenses ................................................................................... 66 ............................. 862.544,34

Non-recurring operating charges .................................................................... (66A) ............................. 132.544,34

Non-recurring financial charges ...................................................................... (66B) ............................. 730.000,00

FINANCIAL RESULTS

Capitalized Interests .......................................................................................... 6503 ............................. .............................

Nr. A 6.4BE 0836.533.938


RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

Codes Period

PERSONAL GUARANTEES PROVIDED OR IRREVOCABLY PROMISED BY THE ENTERPRISE AS SECURITY

FOR DEBTS AND COMMITMENTS OF THIRD PARTIES ............................................................................... 9149 ........................

Of whichBills of exchange in circulation endorsed by the enterprise ................................................................ 9150 ........................

REAL GUARANTEES

Real guarantees provided or irrevocably promised by the enterprise on its own assets assecurity of debts and commitments of the enterprise

Mortgages

Book value of the immovable properties mortgaged ...................................................................... 9161 ........................

Amount of registration .................................................................................................................... 9171 ........................

Pledging of goodwill - Amount of the registration ................................................................................ 9181 872.500,00

Pledging of other assets - Book value of other assets pledged .......................................................... 9191 ........................

Guarantees provided on future assets - Amount of assets involved ................................................... 9201 ........................

Real guarantees provided or irrevocably promised by the enterprise on its own assets assecurity of debts and commitments of third parties

Mortgages

Book value of the immovable properties mortgaged ...................................................................... 9162 ........................

Amount of registration .................................................................................................................... 9172 ........................

Pledging of goodwill - Amount of the registration ................................................................................ 9182 ........................

Pledging of other assets - Book value of other assets pledged .......................................................... 9192 ........................

Guarantees provided on future assets - Amount of assets involved ................................................... 9202 ........................

Period

AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS

........................................................................................................................................................................ ........................

........................................................................................................................................................................ ........................

........................................................................................................................................................................ ........................

........................................................................................................................................................................ ........................

Nr. A 6.5BE 0836.533.938


SUPPLEMENT RETIREMENTS OR SURVIVORS PENSION PLANS IN FAVOUR OF THE PERSONNEL OR THE EXECUTIVES OF THE

ENTERPRISE

Brief description

Measures taken by the enterprise to cover the resulting charges

Codes Period

PENSIONS FUNDED BY THE ENTERPRISE

Estimated amount of the commitments resulting from past services .............................................. 9220 ........................

Methods of estimation

Period

NATURE, COMMERCIAL OBJECTIVE AND FINANCIAL CONSEQUENCES OF TRANSACTIONS NOT REFLECTED IN

THE BALANCE SHEET

Provided that the risks or advantages coming from these transactions are significant and if thedisclosure of the risks or advantages is necessary to appreciate the financial situation of the company

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

Period

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET (including those which cannot be quantified)

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

Nr. A 6.5BE 0836.533.938


RELATIONSHIPS WITH AFFILIATED ENTERPRISES, ASSOCIATED ENTERPRISES, DIRECTORS, MANAGERSAND AUDITORS

Codes Period

AFFILIATED OR ASSOCIATED ENTERPRISES

Guarantees provided on their behalf ................................................................................................... 9294 ........................

Other significant commitments undertaken in their favour ............................................................... 9295 ........................

DIRECTORS, MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE

WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE

PERSONS

Amounts receivable from these persons ............................................................................................ 9500 ........................

Conditions on amounts receivable, rate, duration, possibly reimbursed amounts, canceled amounts or renounced amounts

Codes Period

Guarantees provided in their favour .................................................................................................... 9501 ........................

Other significant commitments undertaken in their favour ............................................................... 9502 ........................

Period

AUDITORS OR PEOPLE THEY ARE LINKED TO

Auditor's fees ..................................................................................................................................................... 5.200,00

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

TRANSACTIONS CONCLUDED, DIRECTLY OR INDIRECTLY, OUTSIDE THE NORMAL MARKET CONDITIONS

Period

With persons holding an participating interest in the company

Nature of the transactions............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

With companies in which the enterprise holds participating interest


............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

With members of the administrative, management and supervisory bodies of the company


............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

............................................................................................................................................................................. ........................

Nr. A 6.6BE 0836.533.938


VALUATION RULES

SUMMARY OF VALUATION RULES

The valuation rules are determined in accordance with the provisions of the Royal Decree of 30

Januari 2001 on financial statements of enterprises.

The valuation rules are not changed in wording and application as compared to the preceding

financial period; if so, the change relates to

Special provisions

Tangible assets :

During the financial period the tangible assets are not revalued; if so, the revaluation is

justified as follows :

Depreciation recorded during the financial period :

Assets Method Base Rates in %

L (linear) NR (not-reevaluated) Principal Additional cost

D (degressive) R (reevaluated) min.-max. min.-max.

1. Formation expenses L

2. Intangible assets L NR 20,00 - 20,00 20,00 - 20,00

3. Industrial, administrative or commercial buildings (*)

4. Plant, machinery and equipment

5. Vehicles

6. Office furniture L NR 33,33 - 33,33 33,33 - 33,33

7. Other tangible assets

Financial assets :

During the financial period investments are not revalued; if so, the revaluation is justified as

follows :

Inventories :

Inventories are valued at acquisition cost determined in accordance with the method of the

individual pricing method or the lower market value :

Liabilities:

Liabilities do not include long term debts, bearing no interest of an unusual low interest

Foreign currencies :

The translation of receivables, payables and commitments expressed in EUR is performed using the

following criteria :

Current assets and liabilities, denominated in foreign currencies, will be converted according the

closing rate at the end of the financial year.

Exchange differences have been disclosed in the financial statements as follows :

Translation differences are globalised per currency.

Negative translation differences will be charged on the result.

Positive translation differences are processed through the deferred charges and accrued income.

Nr. A 6.8BE 0836.533.938


* Including assets held in leasing which should be mentioned on a separate line

Nr. A 6.8BE 0836.533.938


Nr. A 7.1.

OTHER DOCUMENTS TO BE FILED UNDER BELGIAN

COMPANY LAW

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES

List of the enterprises in which the enterprise holds a participating interest, (recorded in heading 28 of assets) and the other

enterprises in which the enterprise holds rights (recorded in headings 28 and 50/53 of assets) for an amount of at least 10 % of the

capital issued.

NAME, full address of the REGISTERED OFFICE and for an enterprise governed

by Belgian law, the COMPANY IDENTIFICATION NUMBER

Rights held by Data extracted from the most recent annual accounts

Nature

Directly Subsidiar

ies Annual accounts as

per

Currency

code

Capital and reserves

Net result

Number % % (+) or (-) (in units)

BE 0836.533.938


INVIBES ADVERTISING SASFR39537450140Foreign companyRue des Petites Ecuries 2475010 Parijs (10) - FranceFrance 31/12/2017 EUR 1.127.488,00 510.780,00

NO PARVALUE

SHARES 7.600 100,0 0,0

INVIBES SERVICES SRLRO30562825Foreign companyStr, Grigore Cobalescu 46010196 Bucuresti - RomaniaRomania 31/12/2017 RON 33.206,42 71.327,04

NO PARVALUE

SHARES 20 100,0 0,0

INVIBES ADVERTISING INCForeign companyAvenue of the Americas, 7th floor117710036 NEW YORKUnited States 31/12/2017 USD -3.139,00 -3.059,15

NO PARVALUE

SHARES 1.000 100,0 0,0

INVIBES SPAIN SLB37563434Foreign companyADAJA FPC EDIF. M3 box 137185 VILLAMAYOR -SALAMANCASpain 31/12/2017 EUR -25.208,05 -28.218,05

NO PARVALUE

SHARES 501 0,0 50,1


SHAREHOLDER STRUCTURE OF THE ENTERPRISE AT THE DATE OF END-OF-YEAR PROCEDURE

according to the notifications that the enterprise has received pursuant to art. 631 §2, last subsection and art. 632 §2 last subsection of the Belgian company law; art. 14 fourth subsection of the law of 2nd May 2007 on the disclosure of major shareholdings; and article 5 of the royal decree of 21st August 2008 laying down further rules on certain multilateral trading facilities.

NAME of the persons who hold the rights of the enterprise, specifying the ADDRESS (of the registered office, when it involves a legal person) and the

COMPANY IDENTIFICATION NUMBER, when it involves an enterprise under Belgian law

Rights held

Nature

Number of voting rights

% Linked to securities

Not linked to securities


Nr. A 8BE 0836.533.938

VP VENTURES NVBE 0477.693.920TECHNOLOGIEPARK 3 box 269052 ZwijnaardeBelgium

NO PAR VALUE SHARES 857.649 0 38,71

INVIBES ADVERTISING SASFR39537450140RUE DES PETITES ECURIES 2475010 Parijs (10) - FranceFrance

NO PAR VALUE SHARES 43.056 0 1,94

Nr. A 8BE 0836.533.938


SOCIAL BALANCE SHEET

Number of joint industrial committee: 200 .......... .......... .......... ..........

EMPLOYEES FOR WHOM THE ENTERPRISE SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDEDIN THE GENERAL PERSONNEL REGISTER

During the current and preceding period

Codes

1. Full-time 2. Part-time 3. Total (T) orTotal full-timeequivalents(FTE)

3P. Total (T) orTotal full-timeequivalents(FTE)

(period) (period) (period) (preceding period)

Average number of employees ................... 100 ........................ ........................ .................. (FTE) .................. (FTE)

Number of hours actually worked ............... 101 ........................ ........................ ...................... (T) ...................... (T)

Personnel costs .......................................... 102 ........................ ........................ ...................... (T) ...................... (T)

At the closing date of the period Codes 1. Full-time 2. Part-time 3. Total full-timeequivalents

Number of employees ................................................................ 105 ........................ ........................ ........................

By nature of the employment contractContract for an indefinite period .............................................. 110 ........................ ........................ ........................

Contract for a definite period ................................................... 111 ........................ ........................ ........................

Contract for the execution of a specifically assigned work ...... 112 ........................ ........................ ........................

Replacement contract .............................................................. 113 ........................ ........................ ........................

According to gender and study levelMen .......................................................................................... 120 ........................ ........................ ........................

primary education ............................................................... 1200 ........................ ........................ ........................

secondary education ........................................................... 1201 ........................ ........................ ........................

higher non-university education .......................................... 1202 ........................ ........................ ........................

university education ............................................................ 1203 ........................ ........................ ........................

Women .................................................................................... 121 ........................ ........................ ........................

primary education ............................................................... 1210 ........................ ........................ ........................

secondary education ........................................................... 1211 ........................ ........................ ........................

higher non-university education .......................................... 1212 ........................ ........................ ........................

university education ............................................................ 1213 ........................ ........................ ........................

By professional categoryManagement staff .................................................................... 130 ........................ ........................ ........................

Employees ............................................................................... 134 ........................ ........................ ........................

Workers ................................................................................... 132 ........................ ........................ ........................

Others ...................................................................................... 133 ........................ ........................ ........................

Nr. A 12BE 0836.533.938


LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

ENTRIES Codes 1. Full-time 2. Part-time 3. Total full-timeequivalents

Number of employees for whom the entreprise submitted aDIMONA declaration or who have been recorded in the generalpersonnel register during the financial year ................................. 205 ........................ ........................ ........................

DEPARTURES

Number of employees whose contract-termination date has beenentered in DIMONA declaration or in the general personnelregister during the financial year .................................................. 305 ........................ ........................ ........................

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

Total of initiatives of formal professional training at the expense of theemployer

Codes Men Codes Women

Number of employees involved ..................................................................... 5801 ........................ 5811 ........................

Number of actual training hours .................................................................... 5802 ........................ 5812 ........................

Net costs for the enterprise ........................................................................... 5803 ........................ 5813 ........................

of which gross costs directly linked to training ......................................... 58031 ........................ 58131 ........................

of which fees paid and paiments to collective funds ................................ 58032 ........................ 58132 ........................

of which grants and other financial advantages received (to deduct) ...... 58033 ........................ 58133 ........................

Total of initiatives of less formal or informal professional training at theexpense of the employer




Total of initiatives of initial professional training at the expense of theemployer




Nr. A 12BE 0836.533.938


annual accounts and other documents to be … file20 1 nat. filing date nr. p. e. d. a 1 annual...

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