1 NAT. Filing Date Nr. P. U. D. CONSO 1 CONSOLIDATED ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW IDENTIFICATION DETAILS NAME OF THE CONSOLIDATING COMPANY OR THE CONSORTIUM (1) (2) : ......................................................................................... ..................................................................................................................................................................................................................... Legal form: .................................................................................................................................................................................................. Address: ................................................................................................................................................... Nr.: ................... Box: ............... Postal code: ............................. Municipality: ........................................................................................................................................... Country: ....................................................... Register of Legal persons – commercial court ............................................................................................................................................ Website (3) : http://www. . .............................................................................................................................................................. Company identification number CONSOLIDATED ANNUAL ACCOUNTS Presented tot he general meeting of / / Regarding the period from / / To / / Preceding period from / / to / / The amounts for the preceding period are identical tot he ones previously published: yes / no (1) Included with these consolidated accounts are: - the consolidated annual report - the auditors report on the consolidated annual accounts IN CASE THE CONSOLIDATED ACCOUNTS OF A FOREIGN COMPANY ARE SUBMITTED BY A BELGIAN SUBSIDIARY Name of the Belgian subsidiary which deposits the accounts (article 113, § 2, 4°a of the Company Law) ..................................................................................................................................................................................................................... ..................................................................................................................................................................................................................... Company identification number of the belgian subsidiary which deposits the accounts Total number of pages deposited: .......................... Number of sections of the standard form not deposited because they serve no useful purpose: .............................................................................................................................................................................................. (1) Strike out what is not applicable. (2) A consortium has to fill in disclosure IV (page CONSO 5.4). (3) Optional information. XXXXXXXXXXXXXXXXX A. Reyerslaan 80 1000 Brussels Belgium Brussels, Dutch-speaking BE 0890.082.292 12 05 2020 01 01 2019 31 12 2019 01 01 2018 31 12 2018 XXXXX 38 5.2, 5.3, 5.4, 5.8.1, 5.8.2, 5.8.4, 5.8.5, 5.9.4, 5.9.5, 5.12, 5.18, 7, 8 EUR ANNUAL ACCOUNTS IN THOUSAND OF EUROS Brussels Airport Company Public limited company Marc DESCHEEMAECKER Chairman Arnaud FEIST Managing Director OCR9002
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1 NAT. Filing Date Nr. P. U. D. CONSO 1
CONSOLIDATED ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW
IDENTIFICATION DETAILS
NAME OF THE CONSOLIDATING COMPANY OR THE CONSORTIUM (1) (2) : .........................................................................................
Postal code: ............................. Municipality: ...........................................................................................................................................
Bills of exchange payable ................................................. 1751 ............................. .............................
Advances received on contracts in progress ......................... 176 ............................. .............................
Other amounts payable ......................................................... 178/9 9.061 8.558
Amounts payable within one year .......................................... 5.13 42/48 729.394 188.216Current portion of amounts payable after more than one yearfalling due within one year ..................................................... 42 500.000 .............................
Remuneration and social security ..................................... 454/9 19.583 14.545
Other amounts payable ......................................................... 47/48 9.257 23.873
Accruals and deferred income ................................................ 492/3 24.408 24.262
TOTAL LIABILITIES .................................................................. 10/49 3.249.158 2.948.093
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INCOME STATEMENT
(breakdown of results by nature)*
Discl. Codes Period Preceding period
Operating income ..................................................................... 70/76A 658.524 595.366
Turnover ................................................................................ 5.14 70 618.768 568.153Stocks of finished goods and work and contracts in progress:increase (decrease) .....................................................(+)/(-) 71 ............................. .............................
Own work capitalised ............................................................. 72 24.372 19.572
Other operating income ......................................................... 74 15.384 7.521
Non-recurring operating income ............................................ 5.14 76A ............................. 120
Services and other goods ...................................................... 61 197.452 177.671
Remuneration, social security costs and pensions ................ 5.14 62 96.108 77.028Depreciation of and other amounts written off formationexpenses, intangible and tangible fixed assets ..................... 630 134.390 104.906Amounts written off stocks, contracts in progress and tradedebtors: Appropriations (write-backs) ..........................(+)/(-) 631/4 2.655 1.309Provisions for liabilities and charges: Appropriations (usesand write-backs) ..........................................................(+)/(-) 635/8 1.023 -109
Other operating charges ........................................................ 640/8 11.989 11.070
Operating charges carried to assets as restructuring costs(-) 649 ............................. .............................
Amounts written off on positive consolidation differences ..... 9960 ............................. .............................
__________________________* The results can be ordered along their destination (applying article 158, paragraph 2 of the Royal decree of 30 january 2001 concerning the execution of the Company
Law.)
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Discl. Codes Period Preceding period
Financial income ...................................................................... 75/76B 2.745 1.380
Recurring financial income .................................................... 75 2.745 1.380
Income from financial fixed assets .................................... 750 4 .............................
Income from current assets .............................................. 751 804 793
Other financial income ...................................................... 752/9 1.937 587
Non-recurring financial income .............................................. 5.14 76B ............................. .............................
Amounts written off positive consolidation differences ..... 9961 ............................. .............................Amounts written off current assets except stocks,contracts in progress and trade debtors: appropriations(write-backs) ...........................................................(+)/(-) 651 ............................. .............................
Other financial charges ..................................................... 652/9 2.301 2.418
Adjustment of income taxes and write-back of tax provisions 77 204 .............................
Gain (loss) of the period ................................................(+)/(-) 9904 76.496 110.882
Share in the result of the companies accounted for usingthe equity method ..........................................................(+)/(-) 9975 ............................. .............................
Aviato Academy NVBE 0726.384.894Public limited companyLuchthaven Brussel Nationaal 1C, 1930 Zaventem, Belgium F 80,0 0,0
Airhotel BelgiumBE 0428.116.626Private company with limited liabilityLuchthaven Brussel Nationaal A, 1930 Zaventem, Belgium F 100,0 0,0
__________________________
1 F. Full consolidationP. Proportional consolidation (in the first column disclose data proving joint control).
E1. Equity method used in an associated company (article 134, 1st al., 3° of the Royal Decree of 30 January 2001 in implementation of Company Law).
E2. Equity method used in a subsidiary company over which the consolidating company has a de facto control of which the inclusion in the consolidated accountswould be incompatible with the principle of a true and fair view (article 108, § 1 of the aforementioned Royal Decree).
E3. Equity method used in a subsidiary company which is in liquidation, which has decided to cease activities or which can no longer be considered as carrying onthe business (article 109 and 110 of the aforementioned Royal Decree).
E4. Equity method used in a joint subsidiary company where its activities cannot be closely integrated into the activities of the enterprise having the joint control(article 134, second al. of the aforementioned Royal Decree).
2 If a change in the percentage of the proportion of capital held entails a change in the accounting method for the inclusion in the consolidated accounts, the newmethod will be followed by an asterisk.
3 Proportion of the capital of those enterprises being held by the enterprises included in the consolidated accounts and persons acting in their own names but on onthese enterprises.
4 If the composition of the consolidated aggregate is characterised by a significant change of this percentage during this period, additional information is provided instatement V (article 112 of the aforementioned Royal Decree).
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CONSOLIDATION CRITERIA AND CHANGES IN THE CONSOLIDATION SCOPE
If of any importacne, Information and criteria governing the application of full consolidation, proportional consolidation and the equitymethod as well as those cases in which these criteria are departed from, and justification for such departures (Pursuant to Article 165, I.of the Royal Decree of 3 january 2001 in implementation of Company Law).
The full consolidation method is applied to all companies in which the group holds more than 50% of
the capital.
All items of assets and liabilities of the companies recorded following the full consolidation
method, are included in the consolidated accounts as well as all items of income and charges of
these companies.
Information which makes a comparaison meaningfull with the consolidated annual accounts of the previous financial period in case thecomposition of the consolidation aggregate in the course of the current financial period has changed significantly (Pursuant to Article112 of aforementioned Royal Decree).
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VALUATION RULES
Specification of the criteria of significatif importance for valuation of the various items in the consolidated financialstatements, in particular:
- the application and ajustments of depreciation, amounts written down and provisions for liabilities and charges, andrevaluations (pursuant to Article 165, VI.a. of the Royal Decree of 30 january 2001 january 2001 inimplementation of theCompany Law).
- the bases of translation applied to express in the consolidated accounts items which are, or originally were, expressed in acurrency other than the currency in which the consolidated accounts are stated, and the translation in the conslidatedaccounts of the accounting statements of subsidiaries and associated enterprises governed by foreign law (pursuant toArticle 165, VI.b. of the aforementioned Royal Decree).
See next page.
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ACCOUNTING POLICIES Brussels Airport Company In conformity with the provisions of article 3:6 of the Royal Decree of 29 April 2019 implementing the Code of companies and associations, the valuation rules which we apply with respect to the inventories, depreciations, write-offs and revaluations, taking account of the company's particular characteristics, are set forth below. ASSETS I. General information A) The following rule is applicable for all the depreciable assets: The first depreciation annuity relating to tangible assets acquired or provisioned for during the financial year, are depreciated pro rata temporis proportionally to the part of the financial year during which the assets are acquired or provisioned for. The tangible fixed assets under construction are depreciated starting from the financial year during which they are ready for use and the remaining useful lifetimes are adjusted accordingly. The tangible and intangible costs relating to the tangible fixed assets are depreciated with the assets to which they relate. This applies amongst other for the non-recoverable taxes, installation and assembly expenses, research costs, architects' fees, consultants' fees, etc. In principle, tangible fixed assets are depreciated straight-line. B) Foreign currency conversion For non-monetary assets or liabilities whose acquisition accompanied a foreign currency transaction, the acquisition value at which they are and remain booked is the acquisition value in EUR, obtained by applying to the price in foreign currency the exchange rate used in the acquisition. The monetary assets in foreign currencies are initially also booked in EUR, after application of the exchange rate for the day of the transaction. At the end of the year, the monetary assets are converted at the closing rate on the balance sheet date. Negative exchange differences were booked in result whereas positive non realized exchange differences were booked on the balance sheet under transitory accounts. II. Formation expenses According to the existing accounting principles, formation expenses are included in the balance sheet, but these expenses are fully depreciated in the financial year in which they were incurred. The following expenses are recorded at their acquisition value reduced with depreciations and write-offs as described hereafter. - Formation expenses and expenses related to capital increase: these expenses relate a.o. to registration duties, notary fees, legal publications, auditor fees, taxes and other expenses as a result of the formation, merger, contribution in kind or financial restructuring of a company. These expenses are depreciated over a period of 5 years. - Expenses of debt issue and refinancing: this contains all expenses (a.o. commissions, fees, etc.) related to the issue of debt and debt refinancing of all kinds. These expenses are depreciated over the lifetime of the debt.
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According to article 7:212 of the Code of companies and associations, the distributable profits need to be reduced with the net book value of these 'formation expenses'. III. Intangible fixed assets The intangible fixed assets are included in the balance sheet at their acquisition value and recorded for this amount reduced with depreciations and write-offs. As a result of the merger between Brussels Airport Holding NV/SA (BAH - the absorbing company, renamed in Brussels Airport Company NV/SA (BAC)) and The Brussels Airport Company NV/SA (TBAC - the absorbed company) per 1 July 2013 with accounting retro-activity per 1 January 2013, a merger goodwill of KEUR 821.131 was allocated to the Airport license. The Airport license is indefinite lived and therefore assessed for impairment. The definite lived intangible fixed assets are depreciated as follows: - Software: 3-5 years - Trademark: 10 years - Concession agreements (retail, food & drinks, advertising and other) are included in the balance sheet as a result of the goodwill allocation of 2013 and are depreciated based on the weighted average length of the contracts, being between 2 and 18 years. IV. Tangible fixed assets Tangible fixed assets are included in the balance sheet at their acquisition value and recorded for this amount reduced with depreciations and write-offs and increased with their revalued value. In order to have a better match between the book value and the respective market value of the assets, a review is performed to investigate whether a revaluation or a correction of the residual lifetime is necessary. A revaluation has taken place per 31 December 2018 and related to most of the assets that are included in the header "land and building" and in the header "plant, machinery and equipment". The latest revaluation took place per “31 December 2019” and relates to “land and buildings” of which the largest part was revalued land. The revaluated tangible fixed assets with a limited useful lifetime are depreciated over the residual useful lifetime of the related assets. The revalued land is not depreciated. The tangible fixed assets with a limited useful lifetime are depreciated as follows: - Buildings and land improvements: 1% - 33,33% - Plant, machinery and equipment: 2,5% - 33,33% - Furniture and vehicles: 10% - 20% - Other tangible assets: 2% - 10% Interest expenses on external debt allocated to a capital project are capitalized with this project and depreciated over the same period. Until today, no interest expenses have been capitalized. During the 2019 financial year, the positive consolidation difference that arose from the takeover of Airhotel Belgium BVBA, was attributed to the asset in the header land and buildings. This positive consolidation difference is amortized over a 10-year period, which is the remaining estimated useful life of the asset to which the consolidation difference was allocated.
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V. Financial fixed assets Financial fixed assets are valued at their acquisition value or nominal value. One applies reductions of value in the case of permanent depreciations justified by the situation, profitability or prospects of the company in which the participating interests or shares are held. VI. Amounts receivable The amounts receivable are valued at their nominal value reduced with the registered impairment. VII. Investments and cash at bank and in hand Shares and bonds, cash at bank and in hand are valued at their nominal value reduced with the registered impairment. LIABILITIES VIII. Revaluation surplus The depreciated part of the revaluation surplus is yearly transferred to the available reserves. IX. Debts Debts are valued at nominal value.
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METHODS OF CALCULATING OF DEFERRED TAXES
Detailed explanation on the methods applied in determining deferred taxes
Following the valuation rules approved by the Board of Directors in 2013, deferred taxation is
processed on temporary differences (mainly tangible and intangible depreciable fixed assets :
- Deferred tax liability: 149.964 kEUR
Codes Period
Future taxation and deferred taxesAnalysis of Heading 168 of the liabilities ............................................................................................. (168) 149.694
Future taxation (Pursuant to article 76 of the Royal Decree of 30 january 2001 in implementationof Company Law) ........................................................................................................................... 1681 6.146
Deferred taxes (Pursuant to article 129 of aforementioned Royal Decree) .................................... 1682 143.548
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STATEMENT OF FORMATION EXPENSES
Codes Period Preceding period
Net book value at the end of the period .......................................................... 20P xxxxxxxxxxxxxxx 29.491
Movements during the periodNew expenses incurred .................................................................................. 8002 6
Other .....................................................................................................(+)/(-) 8004 ........................
Net book value at the end of the period .......................................................... (20) 21.880
Of whichFormation or capital increase expenses, loan issue expenses and otherformation expenses ........................................................................................ 200/2 ........................
CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR
RIGHTS
Acquisition value at the end of the period ...................................................... 8052P xxxxxxxxxxxxxxx 954.935
Movements during the periodAcquisitions, including produced fixed assets ................................................ 8022 ........................
Sales and disposals ........................................................................................ 8032 163
Transfers from one heading to another ................................................(+)/(-) 8042 34.203
Other movements .................................................................................(+)/(-) 99822 ........................
Acquisition value at the end of the period ...................................................... 8052 988.975
Depreciations and amounts written down at the end of the period ............. 8122P xxxxxxxxxxxxxxx 118.258
Movements during the periodRecorded ........................................................................................................ 8072 23.397
Written back because superfluous .................................................................. 8082 ........................
Acquisitions from third parties ......................................................................... 8092 ........................
Other movements .................................................................................(+)/(-) 99861 ........................
Acquisition value at the end of the period ...................................................... 8191 2.785.051
Revaluation surpluses at the end of the period ............................................. 8251P xxxxxxxxxxxxxxx 764.890
Movements during the periodRecorded ........................................................................................................ 8211 75.439
Acquisitions from third parties ......................................................................... 8221 ........................
Other movements .................................................................................(+)/(-) 99881 ........................
Revaluation surpluses at the end of the period ............................................. 8251 840.329
Depreciations and amounts written down at the end of the period ............. 8321P xxxxxxxxxxxxxxx 1.774.104
Movements during the periodRecorded ........................................................................................................ 8271 74.595
Written back because superfluous .................................................................. 8281 ........................
Acquisitions from third parties ......................................................................... 8291 17.683
Other movements .................................................................................(+)/(-) 99862 ........................
Acquisition value at the end of the period ...................................................... 8192 243.188
Revaluation surpluses at the end of the period ............................................. 8252P xxxxxxxxxxxxxxx 175.315
Movements during the periodRecorded ........................................................................................................ 8212 ........................
Acquisitions from third parties ......................................................................... 8222 ........................
Other movements .................................................................................(+)/(-) 99882 ........................
Revaluation surpluses at the end of the period ............................................. 8252 175.315
Depreciations and amounts written down at the end of the period ............. 8322P xxxxxxxxxxxxxxx 253.404
Movements during the periodRecorded ........................................................................................................ 8272 22.266
Written back because superfluous .................................................................. 8282 ........................
Acquisitions from third parties ......................................................................... 8292 9.944
Other movements .................................................................................(+)/(-) 99863 ........................
Acquisition value at the end of the period ...................................................... 8193 120.025
Revaluation surpluses at the end of the period ............................................. 8253P xxxxxxxxxxxxxxx ........................
Movements during the periodRecorded ........................................................................................................ 8213 ........................
Acquisitions from third parties ......................................................................... 8223 ........................
Other movements .................................................................................(+)/(-) 99883 ........................
Revaluation surpluses at the end of the period ............................................. 8253 ........................
Depreciations and amounts written down at the end of the period ............. 8323P xxxxxxxxxxxxxxx 58.321
Movements during the periodRecorded ........................................................................................................ 8273 6.515
Written back because superfluous .................................................................. 8283 ........................
Acquisitions from third parties ......................................................................... 8293 15.011
Other movements .................................................................................(+)/(-) 99866 ........................
Acquisition value at the end of the period ...................................................... 8196 151.912
Revaluation surpluses at the end of the period ............................................. 8256P xxxxxxxxxxxxxxx ........................
Movements during the periodRecorded ........................................................................................................ 8216 ........................
Acquisitions from third parties ......................................................................... 8226 ........................
Other movements .................................................................................(+)/(-) 99886 ........................
Revaluation surpluses at the end of the period ............................................. 8256 ........................
Depreciations and amounts written down at the end of the period ............. 8326P xxxxxxxxxxxxxxx ........................
Movements during the periodRecorded ........................................................................................................ 8276 ........................
Written back because superfluous .................................................................. 8286 ........................
Acquisitions from third parties ......................................................................... 8296 ........................
Other movements .................................................................................(+)/(-) 99906 ........................
Depreciations and amounts written down at the end of the period ............. 8326 ........................
NET BOOK VALUE AT THE END OF THE PERIOD .................................................. (27) 151.912
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STATEMENT OF FINANCIAL FIXED ASSETS
Codes Period Preceding period
COMPANIES USING THE EQUITY METHOD- PARTICIPATIONS
Acquisition value at the end of the period ...................................................... 8391P xxxxxxxxxxxxxxx ........................
Movements during the periodAcquisitions ..................................................................................................... 8361 ........................
Sales and disposals ........................................................................................ 8371 ........................
Transfers from one heading to another ................................................(+)/(-) 8381 ........................
Acquisition value at the end of the period ...................................................... 8391 ........................
Revaluation surpluses at the end of the period ............................................. 8451P xxxxxxxxxxxxxxx ........................
Movements during the periodRecorded ........................................................................................................ 8411 ........................
Acquisitions from third parties ......................................................................... 8421 ........................
Transferred from one heading to another .............................................(+)/(-) 8441 ........................
Revaluation surpluses at the end of the period ............................................. 8451 ........................
Amounts written down at the end of the period ............................................. 8521P xxxxxxxxxxxxxxx ........................
Movements during the periodRecorded ........................................................................................................ 8471 ........................
Reversals because superfluous ...................................................................... 8481 ........................
Acquisitions from third parties ......................................................................... 8491 ........................
Transferred from one heading to another .............................................(+)/(-) 8511 ........................
Amounts written down at the end of the period ............................................. 8521 ........................
Uncalled amounts at the end of the period ..................................................... 8551P xxxxxxxxxxxxxxx ........................
Movements during the period ................................................................(+)/(-) 8541 ........................
Uncalled amounts at the end of the period ..................................................... 8551 ........................
Movements in the capital and reserves of the enterprises accounted forusing the equity method at the end of the period .......................................... 99941P xxxxxxxxxxxxxxx ........................
Movements during the periodShare in the result for the financial period .......................................(+)/(-) 999411 ........................
Elimination of dividends regarding those participating interests ......(+)/(-) 999421 ........................
Other movements in the capital and reserves .................................(+)/(-) 999431 ........................
Movements in the capital and reserves of the enterprises accounted forusing the equity method at the end of the period ................................(+)/(-) 99941 ........................
NET BOOK VALUE AT THE END OF THE PERIOD .................................................. (99211) ........................
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Codes Period Preceding period
AFFILIATED ENTITIES - AMOUNTS RECEIVABLE
Net book value at the end of the period .......................................................... 99212P xxxxxxxxxxxxxxx ........................
Movements during the periodAdditions ......................................................................................................... 8581 178
Other .....................................................................................................(+)/(-) 8631 ........................
Net book value at the end of the period .......................................................... (99212) 178
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF
THE PERIOD ......................................................................................................... 8651 ........................
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Codes Period Preceding period
OTHER ENTERPRISES - PARTICIPATING INTERESTS
Acquisition value at the end of the period ...................................................... 8392P xxxxxxxxxxxxxxx 3.070
Movements during the periodAcquisitions ..................................................................................................... 8362 ........................
Sales and disposals ........................................................................................ 8372 3.070
Transfers from one heading to another ................................................(+)/(-) 8382 ........................
Acquisition value at the end of the period ...................................................... 8392 ........................
Revaluation surpluses at the end of the period ............................................. 8452P xxxxxxxxxxxxxxx ........................
Movements during the periodRecorded ........................................................................................................ 8412 ........................
Acquisitions from third parties ......................................................................... 8422 ........................
Transferred from one heading to another .............................................(+)/(-) 8442 ........................
Revaluation surpluses at the end of the period ............................................. 8452 ........................
Amounts written down at the end of the period ............................................. 8522P xxxxxxxxxxxxxxx 3.070
Movements during the periodRecorded ........................................................................................................ 8472 ........................
Reversals because superfluous ...................................................................... 8482 ........................
Acquisitions from third parties ......................................................................... 8492 ........................
Transferred from one heading to another .............................................(+)/(-) 8512 ........................
Amounts written down at the end of the period ............................................. 8522 ........................
Uncalled amounts at the end of the period ..................................................... 8552P xxxxxxxxxxxxxxx ........................
Movements during the period ................................................................(+)/(-) 8542 ........................
Uncalled amounts at the end of the period ..................................................... 8552 ........................
NET BOOK VALUE AT THE END OF THE PERIOD .................................................. (284) ........................
OTHERS ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD .................................................. 285/8P xxxxxxxxxxxxxxx 226
Movements during the periodAdditions ......................................................................................................... 8582 148
Consolidated reserves at the end of the period ...................................(+)/(-) (9910) -150.209
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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
Current portion of amounts payable after more than one year falling due within one yearFinancial debts .................................................................................................................................... 8801 500.000
Leasing and other similar obligations ............................................................................................. 8831 ........................
Other loans ..................................................................................................................................... 8851 ........................
Bills of exchange payable ............................................................................................................... 8881 ........................
Advance payments received on contract in progress ......................................................................... 8891 ........................
Other amounts payable ....................................................................................................................... 8901 ........................
Total current portion of amounts payable after more than one year falling due within one year .. (42) 500.000
Amounts payable with a remaining term of more than one but not more than five yearsFinancial debts .................................................................................................................................... 8802 575.000
Leasing and other similar obligations ............................................................................................. 8832 ........................
Other loans ..................................................................................................................................... 8852 ........................
Bills of exchange payable ............................................................................................................... 8882 ........................
Advance payments received on contracts in progress ........................................................................ 8892 ........................
Other amounts payable ....................................................................................................................... 8902 9.061
Total amounts payable with a remaining term of more than one but not more than five years .... 8912 584.061
Amounts payable with a remaining term of more than five yearsFinancial debts .................................................................................................................................... 8803 957.708
Leasing and other similar obligations ............................................................................................. 8833 ........................
Other loans ..................................................................................................................................... 8853 ........................
Bills of exchange payable ............................................................................................................... 8883 ........................
Advance payments received on contracts in progress ........................................................................ 8893 ........................
Other amounts payable ....................................................................................................................... 8903 ........................
Total amounts payable with a remaining term of more than five years ........................................... 8913 957.708
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Codes Period
AMOUNTS PAYABLE (OR PART OF AMOUNTS PAYABLE) GUARANTEED BY REAL SECURITIES OR
IRREVOCABLY PROMISED ON THE ASSETS OF THE ENTERPRISES INCLUDED IN THE CONSOLIDATION
Leasing and similar obligations ...................................................................................................... 8952 ........................
Other loans ..................................................................................................................................... 8972 ........................
Bills of exchange payable ............................................................................................................... 9002 ........................
Advance payments received on contracts in progress ........................................................................ 9012 ........................
Taxes, remuneration and social security ............................................................................................. 9022 ........................
Remuneration and social security .................................................................................................. 9042 ........................
Other amounts payable ....................................................................................................................... 9052 9.173
Total amounts payable guaranteed by real securities or irrevocably promised by theenterprises of the consolidation on its own assets ........................................................................... 9062 1.484.173
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NET TURNOVER
Codes Period Preceding period
NET TURNOVER
Allocation by categories of activity.......................................................................................................................... ........................ ........................
Average number of persons employed in Belgium by the enterprisesconcerned ....................................................................................................... 99081 1.071 880
Proportionally consolidated enterprisesAverage number of persons employed ........................................................... 90902 ........................ ........................
Average number of persons employed in Belgium by the enterprisesconcerned ....................................................................................................... 99082 ........................ ........................
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Codes Period Preceding period
NON RECURRING INCOME ................................................................................... 76 ........................ 120
Non-recurring operating income ...................................................................... 76A ........................ 120
Write-back of depreciation and of amounts written off intangible and tangiblefixed assets ..................................................................................................... 760 ........................ ........................
Adjustments to amounts written off consolidation differences ........................ 9970 ........................ ........................
Write-back of provisions for extraordinary operating liabilities and charges ... 7620 ........................ ........................
Capital gains on disposal of intangible and tangible fixed asset ..................... 7630 ........................ ........................
Other non-recurring operating income ............................................................ 764/8 ........................ 120
Non-recurring financial income ....................................................................... 76B ........................ ........................
Write-back of amounts written down financial fixed assets ............................ 761 ........................ ........................
Write-back of provisions for extraordinary financial liabilities and charges ..... 7621 ........................ ........................
Capital gains on disposal of financial fixed assets .......................................... 7631 ........................ ........................
Other non-recurring financial income .............................................................. 769 ........................ ........................
Non-recurring depreciation of and amounts written off formation expenses,intangible and tangible fixed assets ................................................................ 660 ........................ ........................
Amounts written on positive consoolidation differences ................................. 9962 ........................ ........................
Provisions for extraordinary operating liabilities and charges: Appropriations(uses) ....................................................................................................(+)/(-) 6620 ........................ ........................
Capital losses on disposal of intangible and tangible fixed assets ................. 6630 ........................ ........................
Other non-recurring operating charges ........................................................... 664/7 13.374 3.493
Amounts written off financial fixed assets ....................................................... 661 ........................ ........................
Provisions for extraordinary financial liabilities and charges - Appropriations(uses) ....................................................................................................(+)/(-) 6621 ........................ ........................
Capital losses on disposal of financial fixed assets ........................................ 6631 ........................ ........................
Other non-recurring financial charges ............................................................ 668 ........................ ........................
Difference between the tax charged in the consolidated income statementfor the period and the preceding periods and the amount of the tax paid orpayable in respect of those periods, in as far as this difference issignificant in respect of future taxation .......................................................... 99084 ........................ ........................
Effect of non-recurring results on the amount of income taxes on thecurrent period .................................................................................................... 99085 ........................ ........................
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RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET
Codes Period
AMOUNT OF PERSONAL GARANTEES, given or irrevocably promised by the enterprisesincluded in the consolidation, as security for third parties' debts or commitments ...................... 9149 ........................
Real guarantees provided or irrevocably promised by the enterprise on its own assets assecurity of debts and commitments of the enterprise
of enterprises included in the consolidation ........................................................................................ 99086 ........................
of third parties ..................................................................................................................................... 99087 ........................
GOODS AND VALUES, NOT DISCLOSED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN THEIR
OWN NAME BUT AT RISK TO AND FOR THE BENEFIT OF THE ENTERPRISES IN THE CONSOLIDATION .... 9217 ........................
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS .................................................................... 9218 242.665
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS ............................................................... 9219 ........................
RIGHTS :
to interest rates ................................................................................................................................... 99088 ........................
to exchange rates ................................................................................................................................ 99089 ........................
to prices of raw materials or goods purchased for resale ................................................................... 99090 ........................
to other similar transactions ................................................................................................................ 99091 ........................
COMMITMENTS :
to interest rates ................................................................................................................................... 99092 ........................
to exchange rates ................................................................................................................................ 99093 ........................
to prices of raw materials or goods purchased for resale ................................................................... 99094 ........................
to other similar transactions ................................................................................................................ 99095 171.535
Period
COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES
COMMITMENTS WITH RESPECT TO RETIREMENT AND SURVIVORS PENSIONS IN FAVOUR OF THEIR PERSONNEL OR EXECUTIVES, AT
THE EXPENSE OF THE ENTERPRISES INCLUDED IN THE CONSOLIDATION
The company has concluded a contract for supplementary plan for retirement or survivors pensions for the contractual personnelwith a private insurance company. The premiums are taken into results in the year that they are charged. The pension obligations ofthe statutory personnel were transferred to the Belgian state following the Royal Decree of 22 December 2004.
Period
NATURE AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE
NATURE, COMMERCIAL OBJECTIVE AND FINANCIAL CONSEQUENCES OF TRANSACTIONS NOT REFLECTED IN
THE BALANCE SHEET
Nature and commercial objective of transactions not reflected in the balance sheetProvided 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 thecompanies that are included in the consolidation as a whole, the financial consequences of thesetransactions for the companies that are included in the consolidation as a whole have to be mentionedas well.
Over one year ................................................................................................. 9301 ........................ ........................
Within one year ............................................................................................... 9311 ........................ ........................
Current investments .......................................................................................... 9321 ........................ ........................
Over one year ................................................................................................. 9361 557.708 557.708
Within one year ............................................................................................... 9371 ........................ ........................
Personal and real guarantees given or irrevocably promised, as securityof debts or promised, as security of debts or commitments of affiliatedenterprises ......................................................................................................... 9381 ........................ ........................
Other significant financial commitments ........................................................ 9401 ........................ ........................
Financial resultsIncome from financial fixed assets .................................................................. 9421 ........................ ........................
Income from current assets ............................................................................ 9431 ........................ ........................
Other financial income .................................................................................... 9441 ........................ ........................
Over one year ................................................................................................. 9302 ........................ ........................
Within one year ............................................................................................... 9312 ........................ ........................
Over one year ................................................................................................. 9362 ........................ ........................
Within one year ............................................................................................... 9372 ........................ ........................
Nr. CONSO 5.16BE 0890.082.292
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Period
TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS
Transactions with enterprises linked by participating interests out of market conditions Mention ofthese transactions, with exception of transactions within the group, if they are significant, including theamount of the transactions, the nature of the link, and all information about the transactions whichshould be necessary to get better understanding of the situation of the companies included in theconsolidation as a whole.
FINANCIAL RELATIONSHIPS WITH DIRECTORS, INDIVIDUALS OR BODIES CORPORATE FROM THE
CONSOLIDATED ENTERPRISES
Total amount of remuneration granted in respect of their responsibilities in the consolidationenterprise, its subsidiaries and its affiliated companies, including the amounts in respect ofretirement pensions granted to former directors or manage ............................................................... 99097 1.264
Total amount of advances and credits granted by the consolidating enterprise, by a subsidiarycompany or by an associated company .............................................................................................. 99098 ........................
Codes Period
AUDITORS OR PEOPLE THEY ARE LINKED TO
Auditor's fees according to a mandate at the group level led by the company publishing theinformation ............................................................................................................................................. 9507 274
Fees for exceptional services or special missions executed in the company and its brqnchesby the auditor
Other attestation missions ................................................................................................................... 95071 57
Other missions external to the audit .................................................................................................... 95073 ........................
Fees to people auditors are linked to according to the mandate at the group level led by thecompany publishing the information ................................................................................................... 9509 ........................
Fees for exceptional services or special missions executed in the company and its branches bypeople they are linked to
Other attestation missions ................................................................................................................... 95091 ........................
Other missions external to the audit .................................................................................................... 95093 110
Mentions related to article 134 from the Companies Code
Nr. CONSO 5.17BE 0890.082.292
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OTHER DOCUMENTS TO BE FILED UNDER BELGIANCOMPANY LAW
CONSOLIDATED MANAGMENT REPORT
Nr. CONSO 6BE 0890.082.292
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ADDITIONAL INFORMATION relating to Brussels Airport Company (BAC) I. Following the split-up of the former RLW/RVA, Brussels Airport Company took over the environmental responsibilities. In accordance with the Royal Decree of 20 December 2001, Brussels Airport Company is bearing 5% of the total soil sanitation cost of the land. The total soil sanitation cost was estimated by Brussels Airport Company, in mutual agreement with OVAM, at 34.100 kEUR. During the financial year 2001, Brussels Airport Company booked a provision of 1.700 kEUR for the soil sanitation. The soil sanitation cost can be recovered for 95% from the state authorities. The provision will be used for the remaining 5% of the total soil sanitation cost to be borne by Brussels Airport Company. II. By law the statutory employees (of the former RLW/RVA) are entitled to a number of paid sickness days. At present, the amount of the provision of sickness days to be paid is not quantifiable and as such it is only mentioned in the annexes. III. The coordinating organization of airline-companies have filed a lawsuit against the Federal Administration of Transport & Mobility and the official Regulator regarding the implementation of an extra security-charge. The Brussels Airport Company acts as mediator in this legal matter. The board of directors has concluded that regarding this matter all legal requirements were fulfilled and the responsible official authorities have approved this extra security charge. The new security charge has been charged through to the airline-companies since 2005 according to the regulations specified by the official regulator. IV. There are some other disputes of which the possible effect on the accounts of Brussels Airport Company is not quantifiable. On basis of the actual information, the Board of Directors is of the opinion that these disputes do not affect the annual accounts or that necessary provisions are made. V. In relation to the bank loan and/or issued bonds by Brussels Airport Company, the following guarantees are established (code 9191 “Pledges of other assets” in F 6.14 in the statutory F/S of BAC NV): - a pledge on the net book value of land and buildings, shares, receivables and cash - a mortgage for an amount of 126.500 kEUR - a mortgage mandate for an amount of 1.473.500 kEUR - a floating charge agreement of 126.500 kEUR The total amount guaranteed by (i) the mortgages and (ii) pledges provided, will never exceed the amount of 1.600.000 kEUR. VI. In the financial year 2011 Brussels Airport Company has transferred the right of use on a building for which a finance lease agreement was concluded in 2009 with a third party (lessee), to the lessee. As a result, Brussels Airport Company has a long-term (over a period of 36 years) lease receivable on the lessee concerned amounting to 17.783 kEUR. Subsequently, Brussels Airport Company has sold a portion of 10.661 kEUR of this receivable (corresponding to the future cash flows to be indexed relating to the first 27 years) to a financial institution. Since Brussels Airport Company still has certain obligations and bears certain risks on the part of the lease receivable that was sold to the financial institution (right or recourse), a debt (towards the financial institution) was established in the framework of the accounting treatment for the same amount as the amount of transferred
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claim. In the framework of this transaction, Brussels Airport Company has pledged the unsold portion of the receivable for an amount of 6.902 kEUR in favor of the financial institution concerned. VII. The Summer agreement 2017 regarding reform Belgian Corporate Tax had significant impact in 2017 and 2018 on Deferred Taxes.(Code 16 - Page CONSO 3.2) VIII. Corona COVID-19. Since late February 2020, the Company has been confronted with the unforeseeable consequences of Corona COVID-19. These consequences are expected to have a significant impact on the Company's results for the fiscal year 2020. As from March 2020 we are confronted with a significant decrease in passenger traffic and the expectations are that the passenger traffic will continue to be very limited during the months of April and May 2020. This decrease will result in a significant decrease in revenues in these months. Necessary actions have been taken to reduce the operating expenses and the capital expenditure to maintain a sufficient level of cash to continue the airport operations under the assumption of a going concern.