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ARTECO NV, Germany

Hamburg

Befreiender Jahresabschluss zum Geschäftsjahr vom 01.01.2023 bis zum 31.12.2023

ARTECO NV

Schoten/Belgien

F-cap 1

ANNUAL ACCOUNTS AND/OR OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

IDENTIFICATION DETAILS (at the filing date)

NAME: Arteco

Legal form: Public limited company

Address: Metropoolstraat

Nr.: 25

Box:

Postal code: 2900

Town: Schoten

Country: Belgium

Website1: www.arteco-coolants.com

E-mail address ¹ : maarten.nachtergaele@arteco-coolants.com

Company registration number

0463.801.936

DATE 12 / 05 / 2017 of filing the most recent document mentioning the date of publication of the deed of incorporation and of the deed of amendment of the articles of association.

This filing concerns:

[X] the ANNUAL ACCOUNTS in EURO approved by the general meeting of 19 / 06 / 2024

[X] the OTHER DOCUMENTS

regarding

the financial year covering the period from 01 / 01 / 2023 to 31 / 12 / 2023

the preceding period of the annual accounts from 01 / 01 / 2022 to 31 / 12 / 2022

The amounts for the preceding period are [are not] ² identical to the ones previously published.

Total number of pages filed: 75 Numbers of the sections of the standard model form not filed because they serve no useful purpose:

Patrick McCloud, Chairman of the Board

Alexandre Moireau, General Manager

¹ Optional mention.
² Strike out what does not apply.

F-cap 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

Jean Parizot	Director
Avenue du Parc De L'ile 562, 92000 Nanterre, France	27/05/2022 - 30/05/2025
Eddy Devriese	Director
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium	27/05/2022 - 30/05/2025
Patrick McCloud	Chairman of the board of directors
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium	27/05/2022 - 30/05/2025
Haider Manasawala	Director
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium	01/06/2023 - 30/05/2025
Peter De Jonghe	Director
Avenue du Parc De L'ile 562, 92000 Nanterre, France	27/05/2022 - 30/05/2025
Olivier Bertomeu	Director
Avenue du Parc De L'ile 562, 92000 Nanterre, France	01/07/2022 - 30/05/2025
Nathalie Debbasch	Director
Avenue du Parc De L'ile 562, 92000 Nanterre, France	01/07/2022 - 30/05/2025
Danielle Lincoln	Director
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium	16/11/2022 - 30/05/2025
PWC Bedriifsrevisoren BV	Auditor
Nr.: 0429.501.944	26/05/2023 - 29/05/2026
Culliganlaan 5, 1831 Diegem, Belgium
Membership nr.: B00009

Represented by:

	Ann Cleenewerck
	Culliganlaan 5, 1831 Diegem, Belgium
	Membership nr.: A01735

F-cap 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. 5 of the law of 17th March 2019 concerning the professions of accountant and tax advisor.

The annual accounts [were] / were not ^* audited or corrected by a certified accountant or by a company auditor who is not the statutory auditor.

If affirmative, mention hereafter: surname, first names, profession and address of each certified 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 accountants or tax accountants, you can mention hereafter: surname, first names, profession and address of each accountant or tax accountant and his/her affiliation number with the Institute of Tax Advisers and Accountants (ITAA) 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.

F-cap 3.1

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
Formation expenses	6.1	20
FIXED ASSETS		21/28	13.922.523	2.867.588
Intangible fixed assets	6.2	21	395.423	383.102
Tangible fixed assets	6.3	22/27	1.137.091	1.345.775
Land and buildings		22
Plant, machinery and equipment		23	489.460	667.990
Furniture and vehicles		24	292.696	254.284
Leasing and similar rights		25
Other tangible fixed assets		26	354.935	423.501
Assets under construction and advance payments		27
Financial fixed assets	6.4/6.5.1	28	12.390.009	1.138.711
Financial fixed assets Affiliated enterprises	6.15	280/1	11.951.116	726.556
Participating interests		280	726.556	726.556
Amounts receivable		281	11.224.560
Enterprises linked by participating interests	6.15	282/3
Participating interests		282
Amounts receivable		283
Other financial assets		284/8	438.893	412.155
Shares		284
Amounts receivable and cash guarantees		285/8	438.893	412.155

	Discl.	Codes	Period	Preceding period
CURRENT ASSETS		29/58	46.783.805	42.475.263
Amounts receivable after more than one year		29		195.957
Trade debtors		290
Other amounts receivable		291		195.957
Stocks and contracts in progress		3	10.562.718	13.729.035
Stocks		30/36	10.562.718	13.729.035
Raw materials and consumables		30/31	6.427.664	7.969.611
Work in progress		32
Finished goods		33	3.974.472	5.517.759
Goods purchased for resale		34	77.707	80.793
Immovable property intended for sale		35
Advance payments		36	82.875	160.872
Contracts in progress		37
Amounts receivable within one year		40/41	24.198.060	28.064.203
Trade debtors		40	23.540.379	26.484.942
Other amounts receivable		41	657.681	1.579.261
Current investments	6.5.1/6.6	50/53
Own shares		50
Other investments		51/53
Cash at bank and in hand		54/58	12.023.027	486.068
Deferred charges and accrued income	6.6	490/1
TOTAL ASSETS		20/58	60.706.328	45.342.851

F-cap 3.2

	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY		10/15	29.035.593	26.963.956
Contribution	6.7.1	10/11	6.286.000	6.286.000
Capital		10	6.286.000	6.286.000
Issued capital		100	6.286.000	6.286.000
Uncalled capital ⁴		101
Outside the capital		11
Share premium account		1100/10
Others		1100/19
Revaluation surpluses		12
Reserves		13	22.749.593	20.677.956
Reserves not available		130/1	628.600	628.600
Legal reserve		130	628.600	628.600
Reserves statutorily not available		1311
Aquisition of own shares		1312
Financial support		1313
Other		1319
Untaxed reserves		132
Available reserves		133	22.120.993	20.049.356
Accumulated profits (losses) (+)/(-)		14
Investment grants		15
Advance to associates on the sharing out of the assets ⁵		19
PROVISIONS AND DEFERRED TAXES		16	235.656	306.670
Provisions for liabilities and charges		160/5	235.656	306.670
Pensions and similar obligations		160
Taxation		161
Major repairs and maintenance		162
Environmental obligations		163
Other liabilities and charges	6.8	164/5	235.656	306.670
Deferred taxes		168

⁴ Amount to substract of the issued capital
⁵ Amount to substract from the other part of the equity

	Discl.	Codes	Period	Preceding period
AMOUNTS PAYABLE		17/49	31.435.079	18.072.225
Amounts payable after more than one year	6.9	17	10.848.000
Financial debts		170/4	10.848.000
Subordinated loans		170
Unsubordinated debentures		171
Leasing and other similar obligations		172
Credit institutions		173	10.848.000
Other loans		174
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year	6.9	42/48	20.364.012	17.410.604
Current portion of amounts payable after more than one year falling due within one year		42	452.000	266.394
Financial debts		43
Credit institutions		430/8
Other loans		439
Trade debts		44	16.899.907	14.389.419
Suppliers		440/4	16.899.907	14.389.419
Bills of exchange payable		441
Advances received on contracts in progress		46
Taxes, remuneration and social security	6.9	45	3.012.105	2.754.791
Taxes		450/3	563.733	448.486
Remuneration and social security		454/9	2.448.372	2.306.305
Other amounts payable		47/48
Accruals and deferred income	6.9	492/3	223.067	661.621
TOTAL LIABILITIES		10/49	60.706.328	45.342.851

F-cap 4

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income		70/76A	138.684.721	154.608.989
Turnover	6.10	70	136.132.646	150.661.442
Stocks of finished goods and work and contracts in progress: increase (decrease) (+)/(-)		71	-1.543.287	69.589
Own work capitalised		72
Other operating income	6.10	74	4.034.161	3.877.958
Non-recurring operating income	6.12	76A	61.201
Operating charges		60/66A	118.153.481	139.075.331
Raw materials, consumables		60	79.465.340	102.165.235
Purchases		600/8	77.966.372	104.905.955
Stocks: decrease (increase) (+)/(-)		609	1.498.968	-2.740.720
Services and other goods		61	27.659.453	26.042.678
Remuneration, social security costs and pensions (+)/(-)	6.10	62	10.421.146	9.876.099
Depreciation of and other amounts written off formation expenses, intangible and tangible fixed assets		630	667.163	615.071
Amounts written off stocks, contracts in progress and trade debtors: Appropriations (write-backs) (+)/(-)	6.10	631/4	-34.370	4.103
Provisions for liabilities and charges: Appropriations (uses and write-backs) (+)/(-)	6.10	635/8	-71.014	306.670
Other operating charges	6.10	640/8	43.144	36.510
Operating charges carried to assets as restructuring costs(-)		649
Non-recurring operating charges	6.12	66A	2.619	28.965
Operating profit (loss) (+)/(-)		9901	20.531.240	15.533.658

	Discl.	Codes	Period	Preceding period
Financial income		75/76B	2.104.837	1.623.659
Recurring financial income		75	2.104.837	1.623.659
Income from financial fixed assets		750	1.116.711	999.999
Income from current assets		751
Other financial income	6.11	752/9	988.126	623.660
Non-recurring financial income	6.12	76B
Financial charges		65/66B	1.764.773	1.782.438
Recurring financial charges	6.11	65	1.870.959	862.957
Debt charges		650	570.871	44.368
Amounts written off current assets except stocks, contracts in progress and trade debtors: appropriations (write-backs) (+)/(-)		651
(+)/(-) Other financial charges		652/9	1.300.088	818.589
Non-recurring financial charges	6.12	66B	-106.186	919.481
Gain (loss) for the period before taxes (+)/(-)		9903	20.871.304	15.374.879
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes (+)/(-)	6.13	67/77	4.799.667	3.542.204
Taxes		670/3	5.041.099	3.541.713
Adjustment of income taxes and write-back of tax provisions		77	241.432	-491
Gain (loss) of the period (+)/(-)		9904	16.071.637	11.832.675
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Gain (loss) of the period available for appropriation (+)/(-)		9905	16.071.637	11.832.675

F-cap 5

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated (+)/(-)	9906	16.071.637	11.832.675
Gain (loss) of the period available for appropriation (+)/(-)	(9905)	16.071.637	11.832.675
Profit (loss) brought forward (+)/(-)	14P
Withdrawals from capital and reserves	791/2	14.000.000	9.000.000
on the contribution	791
from reserves	792	14.000.000	9.000.000
Transfer to capital and reserves	691/2	16.071.637	11.832.675
to the contribution	691
to legal reserve	6920
to other reserves	6921	16.071.637	11.832.675
Profit (loss) to be carried forward (+)/(-)	(14)
Owners' contribution in respect of losses	794
Profit to be distributed	694/7	14.000.000	9.000.000
Dividends	694	14.000.000	9.000.000
Directors' or managers' entitlements	695
Employees	696
Other beneficiaries	697

F-cap 6.1

EXPLANATORY DISCLOSURES

STATEMENT OF FORMATION EXPENSES OR CAPITAL INCREASE EXPENSES, LOAN ISSUE EXPENSES AND RESTRUCTURING COSTS

	Codes	Period	Preceding period
Net book value at the end of the period	20P	XXXXXXXXXXXXXXX
Movements during the period
New expenses incurred	8002
Depreciation	8003
Other (+)/(-)	8004
Net book value at the end of the period	(20)
Of which
Formation or capital increase expenses, loan issue expenses and other formation expenses	200/2
Restructuring costs	204

F-cap 6.2.1

STATEMENT OF INTANGIBLE FIXED ASSETS

	Codes	Period	Preceding period
DEVELOPMENT COSTS
Acquisition value at the end of the period	8051P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions, including produced fixed assets	8021
Sales and disposals	8031
Transfers from one heading to another (+)/(-)	8041
Acquisition value at the end of the period	8051
Depreciations and amounts written down at the end of the period	8121P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8071
Written back	8081
Acquisitions from third parties	8091
Cancelled owing to sales and disposals	8101
Transferred from one heading to another (+)/(-)	8111
Depreciations and amounts written down at the end of the period	8121
NET BOOK VALUE AT THE END OF THE PERIOD	81311

F-cap 6.2.2

	Codes	Period	Preceding period
RESEARCH COSTS INCURRED IN A FINANCIAL YEAR BEGINNING BEFORE 1 JANUARY 2016
Acquisition value at the end of the period	8055P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions, including produced fixed assets	8025
Sales and disposals	8035
Transfers from one heading to another (+)/(-)	8045
Acquisition value at the end of the period	8055
Depreciations and amounts written down at the end of the period	8125P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8075
Written back	8085
Acquisitions from third parties	8095
Cancelled owing to sales and disposals	8105
Transferred from one heading to another (+)/(-)	8115
Depreciations and amounts written down at the end of the period	8125
NET BOOK VALUE AT THE END OF THE PERIOD	81312

	Codes	Period
RESEARCH COSTS INCURRED IN A FINANCIAL YEAR BEGINNING AFTER 31 DECEMBER 2015
Acquisition value at the end of the period	8056
Depreciations and amounts written down at the end of the period	8126
NET BOOK VALUE AT THE END OF THE PERIOD	81313

F-cap 6.2.3

	Codes	Period	Preceding period
CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	XXXXXXXXXXXXXXX	3.703.646
Movements during the period
Acquisitions, including produced fixed assets	8022	159.080
Sales and disposals	8032	239.593
Transfers from one heading to another (+)/(-)	8042
Acquisition value at the end of the period	8052	3.623.133
Depreciations and amounts written down at the end of the period	8122P	XXXXXXXXXXXXXXX	3.320.544
Movements during the period
Recorded	8072	146.759
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102	239.593
Transferred from one heading to another (+)/(-)	8112
Depreciations and amounts written down at the end of the period	8122	3.227.710
NET BOOK VALUE AT THE END OF THE PERIOD	211	395.423

F-cap 6.2.4

	Codes	Period	Preceding period
GOODWILL
Acquisition value at the end of the period	8053P	XXXXXXXXXXXXXXX	6.837.733
Movements during the period
Acquisitions, including produced fixed assets	8023
Sales and disposals	8033
Transfers from one heading to another (+)/(-)	8043
Acquisition value at the end of the period	8053	6.837.733
Depreciations and amounts written down at the end of the period	8123P	XXXXXXXXXXXXXXX	6.837.733
Movements during the period
Recorded	8073
Written back	8083
Acquisitions from third parties	8093
Cancelled owing to sales and disposals	8103
Transferred from one heading to another (+)/(-)	8113
Depreciations and amounts written down at the end of the period	8123	6.837.733
NET BOOK VALUE AT THE END OF THE PERIOD	212

F-cap 6.2.5

	Codes	Period	Preceding period
ADVANCE PAYMENTS
Acquisition value at the end of the period	8054P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions, including produced fixed assets	8024
Sales and disposals	8034
Transfers from one heading to another (+)/(-)	8044
Acquisition value at the end of the period	8054
Depreciations and amounts written down at the end of the period	8124P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8074
Written back	8084
Acquisitions from third parties	8094
Cancelled owing to sales and disposals	8104
Transferred from one heading to another (+)/(-)	8114
Depreciations and amounts written down at the end of the period	8124
NET BOOK VALUE AT THE END OF THE PERIOD	213

F-cap 6.3.1

STATEMENT OF TANGIBLE FIXED ASSETS

	Codes	Period	Preceding period
LAND AND BUILDINGS
Acquisition value at the end of the period	8191P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions, including produced fixed assets	8161
Sales and disposals	8171
Transfers from one heading to another (+)/(-)	8181
Acquisition value at the end of the period	8191
Revaluation surpluses at the end of the period	8251P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8211
Acquisitions from third parties	8221
Cancelled	8231
Transferred from one heading to another (+)/(-)	8241
Revaluation surpluses at the end of the period	8251
Depreciations and amounts written down at the end of the period	8321P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8271
Written back	8281
Acquisitions from third parties	8291
Cancelled owing to sales and disposals	8301
Transferred from one heading to another (+)/(-)	8311
Depreciations and amounts written down at the end of the period	8321
NET BOOK VALUE AT THE END OF THE PERIOD	(22)

F-cap 6.3.2

	Codes	Period	Preceding period
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period	8192P	XXXXXXXXXXXXXXX	1.573.830
Movements during the period
Acquisitions, including produced fixed assets	8162	112.259
Sales and disposals	8172	119.470
Transfers from one heading to another (+)/(-)	8182
Acquisition value at the end of the period	8192	1.566.619
Revaluation surpluses at the end of the period	8252P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8212
Acquisitions from third parties	8222
Cancelled	8232
Transferred from one heading to another (+)/(-)	8242
Revaluation surpluses at the end of the period	8252
Depreciations and amounts written down at the end of the period	8322P	XXXXXXXXXXXXXXX	905.840
Movements during the period
Recorded	8272	243.566
Written back	8282
Acquisitions from third parties	8292
Cancelled owing to sales and disposals	8302	72.247
Transferred from one heading to another (+)/(-)	8312
Depreciations and amounts written down at the end of the period	8322	1.077.159
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	489.460

F-cap 6.3.3

	Codes	Period	Preceding period
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	XXXXXXXXXXXXXXX	1.192.354
Movements during the period
Acquisitions, including produced fixed assets	8163	232.380
Sales and disposals	8173	409.440
Transfers from one heading to another (+)/(-)	8183
Acquisition value at the end of the period	8193	1.015.294
Revaluation surpluses at the end of the period	8253P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8213
Acquisitions from third parties	8223
Cancelled	8233
Transferred from one heading to another (+)/(-)	8243
Revaluation surpluses at the end of the period	8253
Depreciations and amounts written down at the end of the period	8323P	XXXXXXXXXXXXXXX	938.070
Movements during the period
Recorded	8273	193.968
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303	409.440
Transferred from one heading to another (+)/(-)	8313
Depreciations and amounts written down at the end of the period	8323	722.598
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	292.696

F-cap 6.3.4

	Codes	Period	Preceding period
LEASING AND SIMILAR RIGHTS
Acquisition value at the end of the period	8194P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions, including produced fixed assets	8164
Sales and disposals	8174
Transfers from one heading to another (+)/(-)	8184
Acquisition value at the end of the period	8194
Revaluation surpluses at the end of the period	8254P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8214
Acquisitions from third parties	8224
Cancelled	8234
Transferred from one heading to another (+)/(-)	8244
Revaluation surpluses at the end of the period	8254
Depreciations and amounts written down at the end of the period	8324P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8274
Written back	8284
Acquisitions from third parties	8294
Cancelled owing to sales and disposals	8304
Transferred from one heading to another (+)/(-)	8314
Depreciations and amounts written down at the end of the period	8324
NET BOOK VALUE AT THE END OF THE PERIOD	(25)
OF WHICH
Land and buildings	250
Plant, machinery and equipment	251
Furniture and vehicles	252

F-cap 6.3.5

	Codes	Period	Preceding period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	XXXXXXXXXXXXXXX	772.183
Movements during the period
Acquisitions, including produced fixed assets	8165	14.304
Sales and disposals	8175
Transfers from one heading to another (+)/(-)	8185
Acquisition value at the end of the period	8195	786.487
Revaluation surpluses at the end of the period	8255P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8215
Acquisitions from third parties	8225
Cancelled	8235
Transferred from one heading to another (+)/(-)	8245
Revaluation surpluses at the end of the period	8255
Depreciations and amounts written down at the end of the period	8325P	XXXXXXXXXXXXXXX	348.682
Movements during the period
Recorded	8275	82.870
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305
Transferred from one heading to another (+)/(-)	8315
Depreciations and amounts written down at the end of the period	8325	431.552
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	354.935

F-cap 6.3.6

	Codes	Period	Preceding period
ASSETS UNDER CONSTRUCTION AND ADVANCE PAYMENTS
Acquisition value at the end of the period	8196P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions, including produced fixed assets	8166
Sales and disposals	8176
Transfers from one heading to another (+)/(-)	8186
Acquisition value at the end of the period	8196
Revaluation surpluses at the end of the period	8256F	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8216
Acquisitions from third parties	8226
Cancelled	8236
Transferred from one heading to another (+)/(-)	8246
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 period
Recorded	8276
Written back	8286
Acquisitions from third parties	8296
Cancelled owing to sales and disposals	8306
Transferred from one heading to another (+)/(-)	8316
Depreciations and amounts written down at the end of the period	8326
NET BOOK VALUE AT THE END OF THE PERIOD	(27)

F-cap 6.4.1

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P	XXXXXXXXXXXXXXX	726.556
Movements during the period
Acquisitions	8361
Sales and disposals	8371
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	726.556
Revaluation surpluses at the end of the period	8451P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8411
Acquisitions from third parties	8421
Cancelled	8431
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 period
Recorded	8471
Written back	8481
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
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
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	726.556
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	XXXXXXXXXXXXXXX
Movements during the period
Additions	8581	11.224.560
Repayments	8591
Amounts written down	8601
Amounts written back	8611
Exchange differences (+)/(-)	8621
Other movements (+)/(-)	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)	11.224.560
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8651

F-cap 6.4.2

	Codes	Period	Preceding period
ENTERPRISES LINKED BY A PARTICIPATING INTEREST - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8392P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions	8362
Sales and disposals	8372
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 period
Recorded	8412
Acquisitions from third parties	8422
Cancelled	8432
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
Movements during the period
Recorded	8472
Written back	8482
Acquisitions from third parties	8492
Cancelled owing to sales and disposals	8502
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	(282)
ENTERPRISES LINKED BY A PARTICIPATING INTEREST - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	283P	XXXXXXXXXXXXXXX
Movements during the period
Additions	8582
Repayments	8592
Amounts written down	8602
Amounts written back	8612
Exchange differences (+)/(-)	8622
Other movements (+)/(-)	8632
NET BOOK VALUE AT THE END OF THE PERIOD	(283)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8652

F-cap 6.4.3

	Codes	Period	Preceding period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions	8363
Sales and disposals	8373
Transfers from one heading to another (+)/(-)	8383
Acquisition value at the end of the period	8393
Revaluation surpluses at the end of the period	8453P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transferred from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transferred from one heading to another (+)/(-)	8513
Amounts written down at the end of the period	8523
Uncalled amounts at the end of the period	8553P	XXXXXXXXXXXXXXX
Movements during the period (+)/(-)	8543
Uncalled amounts at the end of the period	8553
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	412.155
Movements during the period
Additions	8583	26.738
Repayments	8593
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
Other movements (+)/(-)	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	438.893
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8653

F-cap 6.5.1

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES

The following list mentions the companies in which the company holds a participating interest (recorded in headings 280 and 282 of assets), as well as the companies in which the company holds rights (recorded in headings 284 and 51/53 of assets) for an amount of at least 10% of the capital, the equity or a class of shares of the company.

NAME, full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the COMPANY IDENTIFICATION NUMBER	Rights held				Data extracted from the most recent annual accounts
	Nature	directly		subsidiaries	Annual accounts as as per	Currency code	Capita land reserves	Net result
		Number	%	%			(+) or (-) (in units)
Shangai Arteco Coolants Science and Technology CO., LTD. Foreign company Fu Zhou Road - Huaxin Hai Xin Biulding 666 box 7/F3, 200001 Shangai, China					31/12/2022	CNY	39.448.365	849.353
	Shares	1	100
Arteco Coolants India Private Limited U24233MH201 0PTC201618 Foreign company Town Square, Vinam Nagar 304A box 3rd floor, 411014 Pune, India					31/03/2023	INR	235.985.000	58.439.000
	Equity shares	1.151.083	99,99
Arteco US LLC 6113038 Foreign company Little Falls Drive 251 box -, DE 19808 Wilmington, United States					31/12/2023	USD	101.502	-6.572
	shares	1	100

F-cap 6.5.2

LIST OF COMPANIES FOR WHICH THE COMPANY HAS UNLIMITED LIABILITY IN THE CAPACITY OF UNLIMITED LIABLE PARTNER OR MEMBER

The annual accounts of each company for which the company has unlimited liability is added to the present statement and published jointly, unless reason for not complying with this requirement is mentioned in the second column using the appropriate code (as defined below: A, B, C or D).

The annual accounts of the indicated company:

A.	will be published by filing with the National Bank of Belgium by this enterprise;
B.	are actually published by the company in a different member country of the European Union, pursuant to article 16 of directive (EU) 2017/1132;
C.	are being inserted by complete or proportional consolidation into the consolidated annual accounts of the company, drawn up, verified and published in accordance with the stipulations of the Belgian Companies and Associations Code concerning the consolidated annual accounts;
D.	concern a limited partnership (société simple/maatschap).

NAME, full address of the REGISTERED OFFICE, LEGAL FORM and for an enterprise governed by Belgian law, THE COMPANY IDENTIFICATION NUMBER	Possible code

F-cap 6.6

OTHER INVESTMENTS AND DEPOSITS, ALLOCATION DEFERRED CHARGES AND ACCRUED INCOME

	Codes	Period	Preceding period
INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS
Shares and current investments other than fixed income investments	51
Shares - Book value increased with the uncalled amount	8681
Shares - Uncalled amount	8682
Precious metals and works of art	8683
Fixed income securities	52
Fixed income securities issued by credit institutions	8684
Fixed term accounts with credit institutions	53
With residual term or notice of withdrawal
up to one month	8686
between one month and one year	8687
over one year	8688
Other investments not mentioned above	8689

	Period
DEFERRED CHARGES AND ACCRUED INCOME
Allocation of heading 490/1 of assets if the amount is significant

F-cap 6.7.1

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

	Codes	Period	Preceding period
STATEMENT OF CAPITAL
Capital
Issued capital at the end of the period	100P	XXXXXXXXXXXXXXX	6.286.000
Issued capital at the end of the period	(100)	6.286.000

	Codes	Value	Number of shares
Changes during the period
Structure of the capital
Different categories of shares
Shares without nominal value		6.286.000	253.568
Registered shares	8702	XXXXXXXXXXXXXX	253.568
Shares dematerialized	8703	XXXXXXXXXXXXXX

	Codes	Uncalled amount	Capital called but not paid
Capital not paid
Uncalled capital	(101)		XXXXXXXXXXXXXX
Called up capital, unpaid	8712	XXXXXXXXXXXXXX
Shareholders having yet to pay up in full

	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
Corresponding number of shares	8732
Commitments to issue shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans	8740
Amount of capital to be subscribed	8741
Corresponding maximum number of shares to be issued	8742
Owing to the exercise of subscription rights
Number of outstanding subscription rights	8745
Amount of capital to be subscribed	8746
Corresponding maximum number of shares to be issued	8747
Authorized capital not issued	8751

	Codes	Period
Shares issued, non representing capital
Distribution
Number of shares	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidiaries	8781

	Period
Supplementary explanation relating to the contribution (including the industry contribution)

F-cap 6.7.2

SHAREHOLDERS' STRUCTURE OF THE COMPANY AT YEAR-END CLOSING DATE

As reflected in the notifications received by the company pursuant to article 7:225 of the Belgian Companies and Associations Code, article 14 fourth paragraph of the law of 2 May 2007 on the publication of major holdings and article 5 of the Royal Decree of 21 August 2008 on further rules for certain multilateral trading facilities.

	Rights held
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		Number of voting rights
	Nature	Linked to securities	Not linked to securities	%

F-cap 6.8

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

	Period
ANALYSIS OF THE HEADING 164/5 OF LIABILITIES IF THE AMOUNT IS SIGNIFICANT
Provision underfunding groupinsurance	135.656
Impairment Arteco Rusland	100.000

F-cap 6.9

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED INCOME

	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 year
Financial debts	8801	452.000
Subordinated loans	8811
Unsubordinated debentures	8821
Leasing and other similar obligations	8831
Credit institutions	8841	452.000
Other loans	8851
Trade debts	8861
Suppliers	8871
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)	452.000
Amounts payable with a remaining term of more than one but not more than five years
Financial debts	8802	7.232.000
Subordinated loans	8812
Unsubordinated debentures	8822
Leasing and other similar obligations	8832
Credit institutions	8842	7.232.000
Other loans	8852
Trade debts	8862
Suppliers	8872
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892
Other amounts payable	8902
Total amounts payable with a remaining term of more than one but not more than five years	8912	7.232.000
Amounts payable with a remaining term of more than five years
Financial debts	8803	3.616.000
Subordinated loans	8813
Unsubordinated debentures	8823
Leasing and other similar obligations	8833
Credit institutions	8843	3.616.000
Other loans	8853
Trade debts	8863
Suppliers	8873
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	3.616.000

	Codes	Period
GUARANTEED AMOUNTS PAYABLE (included in headings 17 and 42/48 of the liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and similar obligations	8951
Credit institutions	8961
Other loans	8971
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 its own assets
Financial debts	8922	11.300.000
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and similar obligations	8952
Credit institutions	8962	11.300.000
Other loans	8972
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 enterprise on its own assets	9062	11.300.000

	Codes	Period
TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 and 179 of the liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073	563.733
Estimated taxes payable	450
Remuneration and social security (headings 454/9 and 179 of the liabilities)
Amounts due to the National Social Security Office	9076
Other amounts payable in respect of remuneration and social security	9077	2.448.372

	Period
ACCRUALS AND DEFERRED INCOME
Allocation of heading 492/3 of liabilities if the amount is significant
Public funding VLAIO	223.067

F-cap 6.10

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Net turnover
Allocation by categories of activity
Allocation into geographical markets
Other operating income
Operating subsidies and compensatory amounts received from public authorities	740	441.266	420.360
OPERATING CHARGES
Employees for whom the enterprise submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	70	71
Average number of employees calculated in full-time equivalents	9087	67,2	67.5
Number of actual worked hours	9088	99.083	99.333
Personnel costs
Remuneration and direct social benefits	620	7.239.918	6.844.443
Employers' contribution for social security	621	1.723.509	1.679.994
Employers' premiums for extra statutory insurance	622	617.412	568.775
Other personnel costs (+)/(-)	623	840.307	782.887
Retirement and survivors' pensions	624

	Codes	Period	Preceding period
Provisions for pensions and other similar rights
Appropriations (uses and write-backs) (+)/(-)	635
Amounts written off
Stocks and contracts in progress
Recorded	9110	101.286	42.664
Written back	9111	55.221	84.195
Trade debts
Recorded	9112	51.596	150.836
Written back	9113	132.031	105.202
Provisions for liabilities and charges
Additions	9115	135.656	306.670
Uses and write-backs	9116	206.670
Other operating charges
Taxes related to operation	640	43.144	36.510
Other costs	641/8
Hired temporary staff and personnel placed at the enterprise's disposal
Total number at the closing date	9096	1	1
Average number calculated in full-time equivalents	9097	0,9	1,4
Number of actual worked hours	9098	1.825	2.673
Costs to the enterprise	617	81.350	97.875

F-cap 6.11

FINANCIAL RESULTS

	Codes	Period	Preceding period
RECURRING FINANCIAL INCOME
Other financial income
Subsidies granted by public authorities and recorded as income for the period
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
Currency differences realized	754
Others
Exchange rate gains		500.549	620.876
Intrests		5.968	1.682
Payment Differences		13.947	1.103
Cross currency swap		467.662
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501
Capitalized Interests	6502
Amounts written off current assets
Recorded	6510
Written back	6511
Other financial charges
Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial charges
Currency differences realized	654
Currency translation differences	655
Others
Exhange rate losses		761.676	790.575
Bank costs		17.773	26.854
Payment differences		1.563	1.139
Cross currency swap		519.076

F-cap 6.12

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

	Codes	Period	Preceding period
NON RECURRING INCOME	76	61.201
Non-recurring operating income	(76A)	61.201
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
Write-back of provisions for non-recurring operating liabilities and charges	7620
Capital gains on disposal of intangible and tangible fixed asset	7630
Other non-recurring operating income	764/8	61.201
Non-recurring financial income	(76B)
Write-back of amounts written down financial fixed assets	761
Write-back of provisions for non-recurring financial liabilities and charges	7621
Capital gains on disposal of financial fixed assets	7631
Other non-recurring financial income	769
NON-RECURRING EXPENSES	66	-103.567	948.446
Non-recurring operating charges	(66A)	2.619	28.965
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660
Provisions for non-recurring 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	2.619	28.965
Non-recurring operating charges carried to assets as restructuring costs .(-)	6690
Non-recurring financial charges	(66B)	-106.186	919.481
Amounts written off financial fixed assets	661
Provisions for non-recurring financial liabilities and charges: Appropriations (uses) (+)/(-)	6621
Capital losses on disposal of financial fixed assets	6631
Capital losses on disposal of financial fixed Other non-recurring financial charges	668	-106.186	919.481
Non-recurring financial charges carried to assets as restructuring costs (-)	6691

F-cap 6.13

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	4.938.670
Income taxes paid and withholding taxes due or paid	9135	4.784.269
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136
Estimated additional taxes	9137	154.401
Income taxes on the result of prior periods	9138	102.429
Additional income taxes due or paid	9139	102.429
Additional income taxes estimated or provided for	9140
In so far as taxes of the period are materially affected by differences between the profit before taxes as stated in annual accounts and the estimated taxable profit
disallowed expenses (+)/(-)		237.191
Public funding VLAIO (+)/(-)		-427.322
Tax Exempt dividend Arteco India (+)/(-)		-594.999

	Period
Impact of non recurring results on the amount of the income taxes relating to the current period

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141
Accumulated tax losses deductible from future taxable profits	9142
Other deferred taxes representing assets
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

	Codes	Period	Preceding period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	21.549.482	31.672.116
By the enterprise	9146	19.465.583	29.946.469
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	2.097.159	1.998.672
For withholding taxes on investment income	9148	280	279

F-cap 6.14

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 which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the enterprise	9153
REAL GUARANTEES
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of the enterprise
Mortgages
Book value of the immovable properties mortgaged	91611
Amount of registration	91621
Amount of registration by mandate	91631
Pledging of goodwill
Pledging of goodwill - Max amount	91711	15.000.000
Pledging of goodwill - Amount of the registration by mandate	91721
Pledging of other assets
Pledging of other assets - Book value	91811
Pledging of other assets - Max amount	91821
Guarantees provided on future assets
Guarantees provided on future assets - Amount assets involved	91911
Guarantees provided on future assets - Max amount	91921
Seller privilege
Seller privilege - Book value	92011
Seller privilege - Unpaid amount	92021

	Codes	Period
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of third parties
Mortgages
Book value of the immovable properties mortgaged	91612
Amount of registration	91622
Amount of registration by mandate	91632
Pledging of goodwill
Pledging of goodwill - Max amount	91712
Pledging of goodwill - Amount of the registration on goodwill pledged by mandate	91722
Pledging of other assets
Pledging of other assets - Book value	91812
Pledging of other assets - Max amount	91822
Guarantees provided on future assets
Guarantees provided on future assets - Amount assets involved	91912
Guarantees provided on future assets - Max amount	91922
Seller privilege
Seller privilege - Book value	92012
Seller privilege - Unpaid amount	92022

	Codes	Period
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 ENTERPRISE
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215
Currencies sold (to be delivered)	9216

	Period
COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

	Period
AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS
"Arteco has contractual obligations for the purchase of raw materials during 2024, with several suppliers, estimation based on moving average over the year 2023."	26.376.000

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

Brief description

	"Group insurance that provides a supplementary pension, the contributions of which are paid by the employer and employee. In the event of death before retirement age, the scheme provides coverage based on the reference salary.
	The contributions are recognized annually in the results based on the invoices received by the insurance company.
	At the end of the 2023 financial year, there is a limited underfunding to guarantee the legal return.
	Arteco provisions the necessary amount, this in line with the legal requirements."

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 AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE NOT INCLUDED IN THE BALANCE SHEET OR THE INCOME STATEMENT

	Period
COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR SALE OR PURCHASE

	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 the disclosure of the risks or advantages is necessary to appreciate the financial situation of the company
Total future leasing obligations buildings	2.605.535
Payable 2024	267.234
Payable 2025-2029	1.336.172
Payable after 2029	1.002.129

	Period
OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET (including those which can not be quantified)
Term exchange contract (CNH/EUR)	11.224.560
Interest rate contract	11.300.000

F-cap 6.15

RELATIONSHIPS WITH AFFILIATED ENTERPRISES, ASSOCIATED ENTERPRISES AND OTHERS ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	11.951.116	726.556
Participating interests	(280)	726.556	726.556
Subordinated amounts receivable	9271
Other amounts receivable	9281	11.224.560
Amounts receivable	9291	5.894.819	6.074.835
Over one year	9301
Within one year	9311	5.894.819	6.074.835
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	1.064.611	1.574.286
Over one year	9361
Within one year	9371	1.064.611	1.574.286
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of affiliated enterprises	9381
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391
Other significant financial commitments	9401
Financial results
Income from financial fixed assets	9421	1.116.711	999.999
Income from current assets	9431
Other financial income	9441
Debt charges	9461
Other financial charges	9471
Disposal of fixed assets
Capital gains obtained	9481
Capital losses suffered	9491

	Codes	Period	Preceding period
ASSOCIATED ENTERPRISES
Financial fixed assets	9253
Participating interests	9263
Subordinated amounts receivable	9273
Other amounts receivable	9283
Amounts receivable	9293
Over one year	9303
Within one year	9313
Amounts payable	9353
Over one year	9363
Within one year	9373
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of associated enterprises	9383
Provided or irrevocably promised by associated enterprises as security for debts or commitments of the enterprise	9393
Other significant financial commitments	9403
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	9252
Participating interests	9262
Subordinated amounts receivable	9272
Other amounts receivable	9282
Amounts receivable	9292
Over one year	9302
Within one year	9312
Amounts payable	9352
Over one year	9362
Within one year	9372

	Period
TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS
Mention of these transactions if they are significant, including the amount of the transactions, the nature of the link, and all information about the transactions which should be necessary to get a better understanding of the situation of the company
Annex added to the valuation rules

F-cap 6.16

FINANCIAL RELATIONSHIPS WITH

	Codes	Period
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
Guarantees provided in their favour	9501
Other significant commitments undertaken in their favour	9502
Amount of direct and indirect remunerations and pensions, included in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person
To directors and managers	9503
To former directors and former managers	9504

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO
Auditor's fees	9505	42.000
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061
Tax consultancy	95062
Other missions external to the audit	95063	4.860
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082
Other missions external to the audit	95083

Mentions related to article 3:64, §2 and §4 of the Companies and Associations Code

F-cap 6.17

DERIVATIVES NOT MEASURED AT FAIR VALUE

FOR EACH CATEGORY OF FINANCIAL DERIVATIVES NOT MEASURED AT FAIR VALUE

Category derivative financial instruments	Hedged risk	Speculation / hedging	Scope	Period: Booked value	Period: Real value	Preceding period: Booked value	Preceding period: Real value
Term exchange contract (CNH/EUR)	Fluctuations in exchange rates	Hedging	11224560		665.144
Interest rate contract	Fluctuations in interest rates	Hedging	11300000		244.869

	Booked value	Real value
FINANCIAL FIXED ASSETS CARRIED AT AN AMOUNT IN EXCESS OF FAIR VALUE
Amount of individual assets or appropriate groupings of those assets

Reasons for not reducing the book value

Informations that suggest than the book value will be recovered

F-cap 6.18.1

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

INFORMATION TO DISCLOSE BY EACH ENTERPRISE THAT IS SUBJECT TO COMPANY LAW ON THE CONSOLIDATED ACCOUNTS OF ENTERPRISES

The enterprise neither prepares nor publishes consolidated financial statements and a relating annual report for one of the following reasons

The enterprise itself is a subsidiary of an enterprise which does prepare and publish consolidated accounts in which annual accounts of the enterprise are included

If yes, justification of the compliance with all conditions for exemption set out in art. 3:26, §2 and §3 of Company Law

	Chevron Corporation (USA) and TotalEnergies SE (FR), each consolidate Arteco NV for 50% in their annual accounts. That is why Arteco has an exemption for sub-consolidation, approved by the Extraordinary General Assembly of 26/05/2023.
	Chevron Corporation (USA)
	Bollinger Canyon Road 6001
	94583 San Ramon, California
	Unites States

Name, full address of registered office and, for an enterprise governed by Belgian Law, the V. A. T. or national number of the parent company preparing and publishing the consolidated accounts required

	TotalEnergies SE
	FR59542051180
	Place Jean Miller 2, 92400 Courbevoie, France

INFORMATION TO DISCLOSE BY THE REPORTING ENTERPRISE BEING A SUBSIDIARY OR A JOINT SUBSIDIARY

Name, full address of the registered office and, if the enterprise is subject to Belgian law, the enterprise identification number of the parent company (ies) and the specifications whether the parent enterprise (s) prepare (s) and publish (es) consolidated accounts which includes the annual accounts of the enterprise ^* :

1. TotalEnergies Lubrifiants SA	Consolidating entity - Biggest grouping
FR66552006454
Avenue du Parc de L'lle 562, 92000 Nanterre, France
2. Chevron Belgium bv	Consolidating entity - Biggest grouping
0403.093.396
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium

If the parent enterprise(s) is (are) (an) enterprise(s) governed by foreign law disclose where the consolidated accounts can be obtained ^* :

1. TotalEnergies Lubrifiants SA	TotalEnergies SE
	Place Jean Millier 2, 92400 Courbevoie, France
2. Chevron Belgium bv	Chevron Corporation
	Bollinger Canyon Road 6001, 94583 San Ramon, California, United States

^* Where the annual accounts of the enterprise are consolidated at different levels, the information should be given for the consolidated aggregate at the highest level on the one hand and the lowest level on the other hand of which the enterprise is a subsidiary and for which consolidated accounts are prepared and published.

F-cap 6.18.2

FINANCIAL RELATIONSHIPS OF THE GROUP LED BY THE ENTERPRISE IN BELGIUM WITH AUDITORS OR WITH PEOPLE THEY ARE LINKED TO

	Codes	Period
Mentions related to article 3:65, §4 and §5 of the Companies and Associations Code
Auditor's fees according to a mandate at the group level led by the company publishing the information	9507	42.000
Fees for exceptional services or special missions executed in these group by the auditor
Other attestation missions	95071
Tax consultancy	95072
Other missions external to the audit	95073	4.860
Fees to people auditors are linked to according to the mandate at the group level led by the company publishing the information	9509	13.650
Fees for exceptional services or special missions executed in the group by people they are linked to
Other attestation missions	95091
Tax consultancy	95092
Other missions external to the audit	95093

Mentions related to article 3:64, §2 and §4 and of the Companies and Associations Code

F-cap 6.19

VALUATION RULES

Waarderingsregels Beginsel

De waarderingsregels werden vastgesteld overeenkomstig de bepalingen van het Koninklijk besluit van 29 april 2019 tot uitvoering van het Wetboek van Vennootschappen. Bij de opstelling van de waarderingsregels werd eveneens rekening gehouden met de aard van de activiteit.

Bijzondere regels

1. Oprichtingskosten

Waardering tegen aanschaffingsprijs en afschrijving tegen jaarlijks maximum 20%, indien deze niet onmiddellijk ten laste genomen worden.

2. Immateriële vaste activa

Waardering tegen aanschaffingsprijs en afschrijving tegen hiernavolgende jaarlijkse percentages:

―	software 20% - met uitzondering van SAP-project dat wordt afgeschreven tegen 33,33%
―	goodwill 20% - omdat de opbrengsten van deze goodwill gedurende 5 jaar blijft bestaan
―	licenties/octrooien 20%

Het afschrijvingspercentage is aangepast aan het economisch doel van het project.

3. Materiële vaste activa

Waardering tegen aanschaffingswaarde, eventueel verhoogd met bijkomende kosten. De investeringen worden lineair afgeschreven tegen de hiernavolgende percentages:

Installaties

Occasiemateriaal	20%
Nieuw Materiaal	5%
Hardware	33,33%
Meubilair	20%
Andere materiële Vaste Activa
Inrichtingskosten	10%
Publiciteitsmateriaal	10%

4. Handelsvorderingen

Waardering tegen nominale waarde. Waardevermindering wordt toegepast ingeval van risico van niet-recuperatie.

5. Vorderingen en Schulden

Waardering tegen nominale waarde. Waardevermindering wordt toegepast ingeval van oninbaarheid of blijvend waardeverlies.

Vorderingen en schulden in vreemde valuta worden gewaardeerd tegen de wisselkoers op het einde van het boekjaar. Niet-gerealiseerde positieve omrekeningsverschillen worden overgedragen naar volgend boekjaar.

6. Financiële derivaten.

Renteswaps (interest rate swaps) worden opgenomen onder de orderrekeningen. Bij een indekkingsverrichting van een lening

worden de te ontvangen en te betalen interesten op de componenten van de renteswap op nettobasis opgenomen in financiële kost of financiële opbrengst.

Cross currency swaps worden opgenomen onder de orderrekeningen. Bij een indekkingsverrichting van een monetair activa en passiva

wordt de ingedekte balanspost gewaardeerd aan de termijnkoers opgenomen in de cross currency swap. De ontvangen en te betalen interesten op

de componenten van de cross currency swap worden respectievelijk opgenomen in andere financiële opbrengsten en in andere financiële kosten.

7. Voorraden

De voorraad grond- en hulpstoffen wordt gewaardeerd tegen de aanschaffingsprijs volgens FIFO-methode.

De voorraad gereed product wordt gewaardeerd tegen vervaardigingsprijs volgens de methode van gewogen gemiddelde prijzen. De vervaardigingsprijs omvat de kostprijs van de verbruikte gronden hulpstoffen en de fabricatiekost. Goederen die gedurende een bepaalde periode niet meer bewogen zijn, worden als dode stock beschouwd. Hiervoor wordt een waardevermindering van de stock toegepast.

8. Fiscale en sociale voorzieningen

Deze voorzieningen worden gevormd overeenkomstig de legale en fiscale bepalingen die van toepassing zijn.

9. Opneming van de buitenlandse bijkantoren in vreemde munten

De omrekening van de bijkantoren in vreemde munten, die niet geïntegreerd zijn in het ERP systeem, gebeurt per kwartaal volgens de monetaire/niet monetaire methode waarbij de positieve en negatieve omrekeningsverschillen in resultaat worden genomen.

BELANGRIJKE TRANSACTIES MET VERBONDEN ONDERNEMINGEN BUITEN NORMALE MARKTVOORWAARDEN, ZOALSOMSCHREVEN IN KONINKLIJK BESLUIT VAN 10 AUGUSTUS 2009

"Bij gebrek aan wettelijke criteria die toelaten om de transacties met verbonden partijen buiten normale marktvoorwaarden te inventariseren, werd geen enkele transactie opgenomen in de staat XVIIIbis. Het geheel van de transacties met verbonden partijen wordt ter informatie en met het oog op transparantie bekendgemaakt in volgende vrije toelichting:

Als related party transactions worden beschouwd alle handelingen met de leden van de Raad van Bestuur, de leden van het Directiecomité, Arteco's aandeelhouders TotalEnergies (50%) en Chevron (50%) en alle ondernemingen die verbonden zijn met, maar niet volledig toebehoren aan de groep TOTALENERGIES of de groep CHEVRON. Er zijn geen transacties met de leden van het Directiecomité en de Raad van Bestuur.

Transacties met marktreferentie

Naast de leveringen, ontvangt ARTECO van de TOTALENERGIES groep diensten zoals productie en administratieve diensten betreffende deze productie. Deze diensten worden op basis van een door beide aandeelhouders getekende serviceovereenkomst gefactureerd."

F-cap 6.20

OTHER INFORMATIONS TO DISCLOSE

As a consequence of the European Union sanctions recorded on the Regulations EU No 2022/576 including coolants concentrates and super concentrates, Arteco has stopped all commercial activities in Russia since February 24th, 2022, and until further notice.

As of December 31, 2023, Arteco has a Russian EUR bank account with UniCredit of €624k, and a bank account in Russian Rubles valued in EUR at €251k, according to the exchange rate published by the National Bank of Russia, on December 31, 2023.

The funds in the EURO bank account are currently restricted as per local Russian legislation, hence the resource is not available for Arteco. Nevertheless, Arteco will continue trying to repatriate the cash to Belgium, considering local and international regulations. The funds in the bank account in Russian Rubles are not restricted and are used to pay the necessary costs of the dormant Russian branch.

To this end, Arteco's board of directors has approved the 2024 budget.

In view of the geopolitical situation and the uncertainty surrounding the further evolution of local legislation in Russia, the Board of Directors has assessed the recoverable value of the cash in the bank accounts in Russia at the balance sheet date in accordance with Articles 3.52 and 3.53 of the Royal Decree of 29 April 2019:

Article 3:52: " impairments on cash investments and cash at bank are recorded when the realizable value is lower than the acquisition value at the closing date".

Article 3:53: " Additional value reductions are recorded on cash investments and cash at bank when there are changes in their realizable value or market value, or when risks exist that are inherent to the nature of the products concerned or to the conducted operations."

Based on what is explained above, the Board of Directors is still of the opinion that there is considerable doubt as to recover the funds from the EUR bank account and concludes that the realisation value at the closing date is zero. Based on the business plan, the Board of Directors decides that the realisable value of the bank accounts in Russian Rubles is lower than the book value.

Consequently, of the write-downs amounting to €923k recorded in 2022, an amount of €154k was reversed and booked under non-recurring financial costs.

F-cap 7

ANNUAL REPORT OF BOARD OF DIRECTORS FISCAL YEAR OF 01/01/2023 TILL 31/12/2023

Dear,

Hereby we have the pleasure, pursuant to legal and statutory requirements, to report to you with regard to the financial year 2023.

In accordance with art. 3:1 of the New Belgian Company Code, we have made up an inventory of the annual accounts. The law on accounting and the annual accounts of companies have been taken into account.

The accounting is kept in accordance with the principle of double entry. An updated accounting system is in place and the general ledger accounts are regularly updated in real-time.

All elements of the assets and liabilities are valued according to the rules determined by the board of directors and taking into account the legal requirements.

The annual accounts have been drawn up in accordance with the scheme presented by the law and all foreseeable risks, possible losses and devaluations have been taken into account.

Depreciation, write-downs and provisions for risks and charges, regardless of the result have been taken into account and have been systematically formed.

The assets of the company amounted to 31/12/2023 and were composed as follows:

60.706.328,11 Euro

	2023
Intangible Fixed Assets	395.422,90
Tangible Fixed Assets	1.137.089,32
Financial Fixed Assets	12.390.008,69
Receivables above 1 year	0,00
Stocks	10.562.718,16
Receivables up to 1 year	24.198.060,38
Cash and cash investments	12.023.028,66
Accrued charges	0,00
	60.706.328,11

The equity is valued at 31/12/2023 at and is composed as follows:

29.035.593,09 Euro

Capital	6.286.000,00
Legal reserves	628.600,00
Available reserves	22.120.993,09
Carried over results	0,00
	29.035.593,09

The debts and provisions of the company amounted to the same date and were composed as follows:

31.670.735,02 Euro

Debts and provisions more than 1 year	11.083.656,16
Debts and provisions up to 1 year (max)	20.587.078,86
	31.670.735,02

As far as the profit and loss accounts are concerned, we close the financial year with a profit of € 16.071.636,99 and we propose you to approve the following result processing:

Result to be appropriated	16.071.636,99
Dividends to be paid	0,00
Addition to the available reserves	-16.071.636,99
	0,00

During 2023, dividends were paid out of the available reserves for the amount of 14 million euros. This by means of 4 interim dividends, in respect to the resolution of the special general assembly held the 4th of April, 4th of July, 5th of September and the 22nd of November 2023.

The obtained results can be presented as follows:

Revenues	-136.132.645,94
Changes in inventory	1.543.286,46
Other operating income	-4.034.161,28
Purchases	77.966.371,85
Changes in inventory	1.498.968,41
Various goods and services	27.659.453,47
Salaries and social security contributions	10.421.146,60
Depreciation	667.162,49
Provisions	-105.383,22
Other company costs	43.144,28
Non-recurring income	-61.200,96
Non-recurring costs	2.618,53
Operating result	-20.531.239,31
Financial income	-2.104.837,15
Financial costs	1.764.773,37
Result from normal operations	-20.871.303,09
Result of the fiscal year before taxes	-20.871.303,09
Taxes on the financial year	4.799.666,10
Net result of the financial year	-16.071.636,99

Information about circumstances that could significantly influence the development of the company

The funds in the bank account in Russian Rubles are not restricted and are used to pay the necessary costs of the dormant Russian branch.

To this end, Arteco's board of directors has approved the 2024 budget.

Article 3:52: " impairments on cash investments and cash at bank are recorded when the realizable value is lower than the acquisition value at the closing date".

Information about the activities in the field of research and development

In 2023, the technology team took focus on development, product introductions and also on the preparation of new product needs for our various customers. The new functions created in 2022 have proven their value in 2023, resulting in increased interaction with our OEM customers in both the USA and Japan. The increased focus on R&D was clearly a good direction for increased customer interest and appreciation. A record number of new products were also launched in 2023 and the product transition to CMR (cancerogenic-mutagen-reprotoxic) free products went smoothly. The scientific depth in the projects is supported by collaboration with various universities and colleges. Some of our R&D activities are run by Vlaio (Flemish agency for innovation and entrepreneurship).

Together with our partners, both customers and suppliers of our customers, joint projects were started not only for the development of future coolants for hybrid systems but also for so-called new energy vehicles (NEV).

Branch offices

The BOD informs us that the branch in Russia has no equity.

In 2023, operating income was realized for:	0,00
In 2023 the costs of the branch office	-104.063,26
The net result of the branch is:	-104.063,26 Euro

The BOD informs us that the branch in Japan has no equity.

In 2023, operating income was realized for:	0,00
In 2023 the costs of the branch office	262.193,41
The net result of the branch is:	262.193,41 Euro

The BOD informs us that the branch in Czech Republic has no equity.

In 2023, operating income was realized for:	0,00
In 2023 the costs of the branch office	192.305,35
The net result of the branch is:	192.305,35 Euro

The BOD informs us that the branch in France has no equity.

In 2023, operating income was realized for:	0,00
In 2023 the costs of the branch office	946.177,06
The net result of the branch is:	946.177,06 Euro

The BOD informs us that the branch in Germany has no equity.

In 2023, operating income was realized for:	0,00
In 2023 the costs of the branch office	381.639,29
The net result of the branch is:	381.639,29 Euro

The BOD informs us that the branch in UK has no equity.

This branch was closed on 26/03/2024 as there were no longer any UK employees active, this closure has no impact on the company's results.

In 2023, operating income was realized for:	0,00
In 2023 the costs of the branch office	39.812,11
The net result of the branch is:	39.812,11 Euro

Own shares

The company does not own any shares.

Financial Instruments

Exchange rate risk and interest rate risk that may arise from the transactions are hedged with financial derivatives.

Risks and uncertainties

The company is confronted with the risks and uncertainties, as referred to in Article 3:6, 1° of the New Belgian Company Code, which are inherent in its activities and its business.

We also refer here to previous explanations regarding the Russian Branch.

Important events after the balance sheet date

Since the closing of the financial year on December 31, 2023, no major events occurred that could negatively affect the financial position of the company.

All transaction can be viewed and booked as normal operating results.

Conflicts of interest directors

The board of directors also informs the general shareholders' meeting that during the past financial year it has not been required to decide on a transaction or a series of transactions in which a director has a direct or indirect interest (art. 7:96 of the New Belgian Company Code.)

We request that you approve the annual accounts as of December 31, 2023 and grant the statutory auditor and us discharge for the exercise of our mandate for the past financial year.

Signed at Schoten, April 29th, 2024

The Board of Directors

J. PARIZOT

H. MANASAWALA

N. DEBBASCH

D. LINCOLN

O. BERTOMEU

E. DEVRIESE

P. DE JONGHE

P. MCCLOUD

F-cap 8

FREE TRANSLATION

STATUTORY AUDITOR'S REPORT TO THE GENERAL SHAREHOLDERS' MEETING OF ARTECO NV ON THE ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

We present to you our statutory auditor's report in the context of our statutory audit of the annual accounts of Arteco NV (the "Company"). This report includes our report on the annual accounts, as well as the other legal and regulatory requirements. This forms part of an integrated whole and is indivisible.

We have been appointed as statutory auditor by the general meeting d.d. 26 May 2023, following the proposal formulated by the board of directors and following the proposal formulated by the works' council. Our mandate will expire on the date of the general meeting which will deliberate on the annual accounts for the year ended 31 December 2025. We have performed the statutory audit of the Company's annual accounts for 19 consecutive years.

Report on the annual accounts

Unqualified opinion

We have performed the statutory audit of the Company's annual accounts, which comprise the balance sheet as at 31 December 2023, and the profit and loss account for the year then ended, and the notes to the annual accounts, characterised by a balance sheet total of EUR 60.706.328 and a profit and loss account showing a profit for the year of EUR 16.071.637.

In our opinion, the annual accounts give a true and fair view of the Company's net equity and financial position as at 31 December 2023, and of its results for the year then ended, in accordance with the financial-reporting framework applicable in Belgium.

Basis for unqualified opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs) as applicable in Belgium. Furthermore, we have applied the International Standards on Auditing as approved by the IAASB which are applicable to the year-end and which are not yet approved at the national level. Our responsibilities under those standards are further described in the "Statutory Auditor's responsibilities for the audit of the annual accounts" section of our report. We have fulfilled our ethical responsibilities in accordance with the ethical requirements that are relevant to our audit of the annual accounts in Belgium, including the requirements related to independence.

We have obtained from the board of directors and Company officials the explanations and information necessary for performing our audit.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of the board of directors for the preparation of the annual accounts

The board of directors is responsible for the preparation of annual accounts that give a true and fair view in accordance with the financial-reporting framework applicable in Belgium, and for such internal control as the board of directors determines is necessary to enable the preparation of annual accounts that are free from material misstatement, whether due to fraud or error.

In preparing the annual accounts, the board of directors is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the board of directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Statutory auditor's responsibilities for the audit of the annual accounts

Our objectives are to obtain reasonable assurance about whether the annual accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these annual accounts.

In performing our audit, we comply with the legal, regulatory and normative framework applicable to the audit of the annual accounts in Belgium. A statutory audit does not provide any assurance as to the Company's future viability nor as to the efficiency or effectiveness of the board of directors' current or future business management. Our responsibilities in respect of the use of the going concern basis of accounting by the board of directors are described below.

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

•	Identify and assess the risks of material misstatement of the annual accounts, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
•	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control;
•	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the board of directors;
•	Conclude on the appropriateness of the board of directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our statutory auditor's report to the related disclosures in the annual accounts or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our statutory auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern;
•	Evaluate the overall presentation, structure and content of the annual accounts, including the disclosures, and whether the annual accounts represent the underlying transactions and events in a manner that achieves fair presentation;

We communicate with the board of directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Other legal and regulatory requirements

Responsibilities of the board of directors

The board of directors is responsible for the preparation and the content of the directors' report and the documents required to be deposited by virtue of the legal and regulatory requirements, as well as for the compliance with the legal and regulatory requirements regarding bookkeeping, with the Companies' and Associations' Code and the Company's articles of association.

Statutory auditor's responsibilities

In the context of our engagement and in accordance with the Belgian standard which is complementary to the International Standards on Auditing (ISAs) as applicable in Belgium, our responsibility is to verify, in all material respects, the directors' report and certain documents required to be deposited by virtue of the legal and regulatory requirements, as well as compliance with the articles of association and of certain requirements of the Companies' and Associations' Code and to report on these matters.

Aspects related to the directors' report

In our opinion, after having performed specific procedures in relation to the directors' report, the directors' report is consistent with the annual accounts for the year under audit, and is prepared in accordance with the articles 3:5 and 3:6 of the Companies' and Associations' Code.

In the context of our audit of the annual accounts, we are also responsible for considering, in particular based on the knowledge acquired resulting from the audit, whether the directors' report is materially misstated or contains information which is inadequately disclosed or otherwise misleading. In light of the procedures we have performed, there are no material misstatements we have to report to you.

Statement related to the social balance sheet

The social balance sheet, to be deposited in accordance with article 3:12, §1, 8° of the Companies' and Associations' Code, includes, both in terms of form and content, the information required under this Code, including, but not limited to, in relation to salaries and education, and does not present any material inconsistencies with the information we have at our disposition in our engagement.

Statements related to independence

•	Our registered audit firm and our network did not provide services which are incompatible with the statutory audit of the annual accounts and our registered audit firm remained independent of the Company in the course of our mandate.
•	The fees for additional services which are compatible with the statutory audit of the annual accounts referred to in article 3:65 of the Companies' and Associations' Code are correctly disclosed and itemized in the notes to the annual accounts.

Other statements

•	Without prejudice to formal aspects of minor importance, the accounting records were maintained in accordance with the legal and regulatory requirements applicable in Belgium.
•	The appropriation of results proposed to the general meeting complies with the legal provisions and the provisions of the articles of association.
•	There are no transactions undertaken or decisions taken in breach of the Company's articles of association or the Companies' and Associations' Code that we have to report to you.

Diegem, 28 May 2024

PwC Bedrijfsrevisoren BV / PWC Reviseurs d'Entreprises SRL

The statutory auditor

Represented by

Ann Cleenewerck , Bedrijfsrevisor / Réviseur d'Entreprises

F-cap 9

PAYMENTS TO GOVERNMENTS REPORT

F-cap 10

SOCIAL BALANCE SHEET

Number of joint industrial committee:

207

STATEMENT OF THE PERSONS EMPLOYED

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

During the current period	Codes	Total	1. Men	2. Women
Average number of employees
Full-time	1001	55,2	33,1	22,1
Part-time	1002	14,5	1,8	12,7
Total in full-time equivalents	1003	67,2	34,7	32,5
Number of hours actually worked
Full-time	1011	80.489	46.339	34.150
Part-time	1012	18.594	2.842	15.752
Total	1013	99.083	49.181	49.902
Personnel costs
Full-time	1021	8.494.094	5.046.374	3.447.720
Part-time	1022	1.927.052	284.880	1.642.172
Total	1023	10.421.146	5.331.254	5.089.892
Advantages in addition to wages	1033

During the preceding period	Codes	P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003	67,5	34,9	32,6
Number of hours actually worked	1013	99.333	49.607	49.726
Personnel costs	1023	9.876.100	5.045.224	4.830.876
Advantages in addition to wages	1033	76.769	37.499	39.270

At the closing date of the period	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees	105	54	16	67,4
By nature of the employment contract
Contract for an indefinite period	110	52	16	65,4
Contract for a definite period	111	2		2,0
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to gender and study level
Men	120	34	2	35,8
primary education	1200
secondary education	1201	4		4,0
higher non-university education	1202	12	1	12,9
university education	1203	18	1	18,9
Women	121	20	14	31,6
primary education	1210
secondary education	1211		2	1,6
higher non-university education	1212	9	7	14,7
university education	1213	11	5	15,3
By professional category
Management staff	130
Employees	134	54	16	67,4
Workers	132
Others	133

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE ENTERPRISE'S DISPOSAL

During the period	Codes	1. Hired temporary staff	2. Persons placed at the enterprise's disposal
Average number of persons employed	150	0,9
Number of hours actually worked	151	1.825
Costs for the enterprise	152	81.350

LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

ENTRIES	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees for whom the entreprise submitted a DIMONA declaration or who have been recorded in the general personnel register during the financial year	205	5		5,0
By nature of employment contract
Contract for an indefinite period	210	3		3,0
Contract for a definite period	211	2		2,0
Contract for the execution of a specifically assigned work	212
Replacement contract	213

DEPARTURES	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees whose contract-termination date has been entered in DIMONA declaration or in the general personnel register during the financial year	305	6		6,0
By nature of employment contract
Contract for an indefinite period	310	5		5,0
Contract for a definite period	311	1		1,0
Contract for the execution of a specifically assigned work	312
Replacement contract	313
By reason of termination of contract
Retirement	340
Unemployment with extra allowance from enterprise	341
Dismissal	342	2		2,0
Other reason	343	4		4,0
the number of persons who continue to render services to the enterprise at least half-time on a self-employed basis	350

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

	Codes	Men	Codes	Women
Total of initiatives of formal professional training at the expense of the employer
Number of employees involved	5801	6	5811	15
Number of actual training hours	5802	48	5812	183
Net costs for the enterprise	5803	4.680	5813	14.796
of which gross costs directly linked to training	58031	4.153	58131	12.787
of which fees paid and paiments to collective funds	58032	527	58132	2.009
of which grants and other financial advantages received (to deduct)	58033		58133
Total of initiatives of less formal or informal professional training at the expense of the employer
Number of employees involved	5821	11	5831	14
Number of actual training hours	5822	177	5832	212
Net costs for the enterprise	5823	12.596	5833	16.164
Total of initiatives of initial professional training at the expense of the employer
Number of employees involved	5841		5851
Number of actual training hours	5842		5852
Net costs for the enterprise	5843		5853

F-cap 11

REMUNERATION REPORT

for the companies in which the government or one or more legal person governed by public law perform an audit (article 3:12, §1, 9° from the Companies and Associations Code)

F-cap 12

CONFLICT OF INTERESTS AND AGREEMENTS

- Minutes or special report about the decisions and/or acts that could lead to a conflict of interest relating to property rights between a director and the company and/or about agreements concluded between the company and the director, who is also the only shareholder (article 5:77, §1, article 6:65, §1, article 7:96, §1 et article 7:103, §1 of the Companies and Associations Code)

- Report about the agreements concluded between the only shareholder and the company (article 7:231, 3rd paragraph of the Companies and Associations Code)

F-cap 13

REPORT OF THE SUPERVISORY BOARD

of a European company (article 15:29 of the Companies and Associations Code) or a European cooperative company (article 16:27 of the Companies and Associations Code)

F-cap 14

ANNUAL ACCOUNT(S)

of the company(y)(ies) for which the depositing company has unlimited liability in its capacity of partner or member with unlimited liability (to be attached only when codes A, B, C and D in section F-cap 6.5.2 are not applicable) (article 3:12, §1, 7° of the Companies and Associations Code)

F-cap 15

OTHER DOCUMENTS

(to be specified by the company)

2d:T59d4c,

ARTECO NV, Germany

Hamburg

Befreiender Jahresabschluss zum Geschäftsjahr vom 01.01.2022 bis zum 31.12.2022

ARTECO NV

Schoten/Belgien

F-cap 1

ANNUAL ACCOUNTS AND/OR OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

IDENTIFICATION DETAILS (at the filing date)

NAME: Arteco

Legal form: Public limited company

Address: Metropolstreet Nr.: 25

Box:

Postal code: 2900

Town: Schoten

Country: Belgium

Website ¹ : www.arteco-coolants.com

E-mail address ¹ : maarten.nachtergaele@arteco-coolants.com

Company registration number 0463.801.936

DATE 12 / 05 / 2017 of filing the most recent document mentioning the date of publication of the deed of incorporation and of the deed of amendment of the articles of association.

This filing concerns:

[X] the ANNUAL ACCOUNTS in EURO approved by the general meeting of 26 / 05 / 2023

[X] the OTHER DOCUMENTS

regarding

the financial year covering the period from 01 / 01 / 2022 to 31 / 12 / 2022

the preceding period of the annual accounts from 01 / 01 / 2021 to 31 / 12 / 2021

The amounts for the preceding period are /[are not] ² identical to the ones previously published.

Total number of pages filed: 57 Numbers of the sections of the standard model form not filed because they serve no useful purpose: 6.1, 6.2.1, 6.2.2, 6.2,5, 6.3.1, 6.3.4, 6.3.6, 6.4.2, 6.6, 6.7.2, 6.17, 9, 11, 12, 13, 14, 15

'I hereby certify this to be a true translation'

Jean Parizot, CHAIRMAN

Alexandre Moireau

¹ Optional mention.
² Strike out what does not apply.

F-cap 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

Jean Parizot	Chairman of the board of directors
Avenue du Parc De L'ile 562, 92000 Nanterre, France	27/05/2022 - 30/05/2025
Eddy Devriese	Director
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium	27/05/2022 - 30/05/2025
Patrick McCloud	Director
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium	27/05/2022 - 30/05/2025
Thomas Chang	Director
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium	27/05/2022 - 30/05/2025
Peter De Jonahe	Director
Avenue du Parc De L'ile 562, 92000 Nanterre, France	27/05/2022 - 30/05/2025
Olivier Bertomeu	Director
Avenue du Parc De L'ile 562, 92000 Nanterre, France	01/07/2022 - 30/05/2025
Nathalie Debbasch	Director
Avenue du Parc De L'ile 562, 92000 Nanterre, France	01/07/2022 - 30/05/2025
Danielle Lincoln	Director
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium	16/11/2022 - 30/05/2025
PWC Bedrijfsrevisoren BV	Auditor
Nr.: 0429.501.944	29/05/2020 - 26/05/2023
Culliganlaan 5, 1831 Diegem, Belgium
Membership nr.: B00009

Represented by:

	Ann Cleenewerck
	Culliganlaan 5, 1831 Diegem, Belgium
	Membership nr.: A01735

F-cap 2.2

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

The annual accounts [were] / were not ^* audited or corrected by a certified accountant or by a company auditor who is not the statutory auditor.

A.	Bookkeeping of the enterprise ^** ,
B.	Preparing the annual accounts ^** ,
C.	Auditing the annual accounts and/or
D.	Correcting the annual accounts.

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.

F-cap 3.1

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
Formation expenses	6.1	20
FIXED ASSETS		21/28	2.867.588	2.459.853
Intangible fixed assets	6.2	21	383.102	272.516
Tangible fixed assets	6.3	22/27	1.345.775	1.544.655
Land and buildings		22
Plant, machinery and equipment		23	667.990	821.236
Furniture and vehicles		24	254.284	224.084
Leasing and similar rights		25
Other tangible fixed assets		26	423.501	499.335
Assets under construction and advance payments		27
Financial fixed assets	6.4/6.5.1	28	1.138.711	642.682
Affiliated enterprises	6.15	280/1	726.556	634.178
Participating interests		280	726.556	634.178
Amounts receivable		281
Enterprises linked by participating interests	6.15	282/3
Participating interests		282
Amounts receivable		283
Other financial assets		284/8	412.155	8.504
Shares		284
Amounts receivable and cash guarantees		285/8	412.155	8.504

	Discl.	Codes	Period	Preceding period
CURRENT ASSETS		29/58	42.475.263	40.283.505
Amounts receivable after more than one year		29	195.957
Trade debtors		290
Other amounts receivable		291	195.957
Stocks and contracts in progress		3	13.729.035	11.133.599
Stocks		30/36	13.729.035	11.133.599
Raw materials and consumables		30/31	7.969.611	5.029.210
Work in progress		32
Finished goods		33	5.517.759	5.448.171
Goods purchased for resale		34	80.793	238.942
Immovable property intended for sale		35
Advance payments		36	160.872	417.276
Contracts in progress		37
Amounts receivable within one year		40/41	28.064.203	28.467.661
Trade debtors		40	26.484.942	26.856.765
Other amounts receivable		41	1.579.261	1.610.896
Current investments	6.5.1/6.6	50/53
Own shares		50
Other investments		51/53
Cash at bank and in hand		54/58	486.068	682.245
Deferred charges and accrued income	6.6	490/1
TOTAL ASSETS		20/58	45.342.851	42.743.358

F-cap 3.2

	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY		10/15	26.963.957	24.131.282
Contribution	6.7.1	10/11	6.286.000	6.286.000
Capital		10	6.286.000	6.286.000
Issued capital		100	6.286.000	6.286.000
Uncalled capital ⁴		101
Outside the capital		11
Share premium account		1100/10
Others		1100/19
Revaluation surpluses		12
Reserves		13	20.677.957	17.845.282
Reserves not available		130/1	628.600	628.600
Legal reserve		130	628.600	628.600
Reserves statutorily not available		1311
Aquisition of own shares		1312
Financial support		1313
Other		1319
Untaxed reserves		132
Available reserves		133	20.049.357	17.216.682
Accumulated profits (losses) (+)/(-)		14
Investment grants		15
Advance to associates on the sharing out of the assets ⁵		19
PROVISIONS AND DEFERRED TAXES		16	306.670
Provisions for liabilities and charges		160/5	306.670
Pensions and similar obligations		160
Taxation		161
Major repairs and maintenance		162
Environmental obligations		163
Other liabilities and charges	6.8	164/5	306.670
Deferred taxes		168

⁴ Amount to substract of the issued capital
⁵ Amount to substract from the other part of the equity

	Discl.	Codes	Period	Preceding period
AMOUNTS PAYABLE		17/49	18.072.224	18.612.076
Amounts payable after more than one year	6.9	17		266.394
Financial debts		170/4		266.394
Subordinated loans		170
Unsubordinated debentures		171
Leasing and other similar obligations		172
Credit institutions		173		266.394
Other loans		174
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year	6.9	42/48	17.410.604	18.345.682
Current portion of amounts payable after more than one year falling due within one year		42	266.394	302.423
Financial debts		43
Credit institutions		430/8
Other loans		439
Trade debts		44	14.389.419	15.610.153
Suppliers		440/4	14.389.419	15.610.153
Bills of exchange payable		441
Advances received on contracts in progress		46
Taxes, remuneration and social security	6.9	45	2.754.791	2.433.106
Taxes		450/3	448.486	510.730
Remuneration and social security		454/9	2.306.305	1.922.376
Other amounts payable		47/48
Accruals and deferred income	6.9	492/3	661.620
TOTAL LIABILITIES		10/49	45.342.851	42.743.358

F-cap 4

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income		70/76A	154.608.989	149.496.448
Turnover	6.10	70	150.661.442	143.797.871
Stocks of finished goods and work and contracts in progress: increase (decrease) (+)/(-)		71	69.589	1.958.700
Own work capitalised		72
Other operating income	6.10	74	3.877.958	3.732.183
Non-recurring operating income	6.12	76A		7.694
Operating charges		60/66A	139.075.331	132.887.260
Raw materials, consumables		60	102.165.233	100.535.656
Purchases		600/8	104.905.955	102.253.285
Stocks: decrease (increase) (+)/(-)		609	-2.740.722	-1.717.629
Services and other goods		61	26.042.677	22.544.248
Remuneration, social security costs and pensions (+)/(-)	6.10	62	9.876.100	8.641.096
Depreciation of and other amounts written off formation expenses, intangible and tangible fixed assets		630	615.071	1.122.656
Amounts written off stocks, contracts in progress and trade debtors: Appropriations (write-backs) (+)/(-)	6.10	631/4	4.105	16.912
Provisions for liabilities and charges: Appropriations (uses and write-backs) (+)/(-)	6.10	635/8	306.670	-15.205
Other operating charges	6.10	640/8	36.510	36.750
Operating charges carried to assets as restructuring costs (-)		649
Non-recurring operating charges	6.12	66A	28.965	5.147
Operating profit (loss) (+)/(-)		9901	15.533.658	16.609.188

	Discl.	Codes	Period	Preceding period
Financial income		75/76B	1.623.659	340.025
Recurring financial income		75	1.623.659	340.025
Income from financial fixed assets		750	999.999
Income from current assets		751
Other financial income	6.11	752/9	623.660	340.025
Non-recurring financial income	6.12	76B
Financial charges		65/66B	1.782.438	347.127
Recurring financial charges	6.11	65	862.957	347.127
Debt charges		650	44.368	51.592
Amounts written off current assets except stocks, contracts in progress and trade debtors: appropriations (write-backs) (+)/(-)		651
Other financial charges		652/9	818.589	295.535
Non-recurring financial charges	6.12	66B	919.481
Gain (loss) for the period before taxes (+)/(-)		9903	15.374.879	16.602.086
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes (+)/(-)	6.13	67/77	3.542.204	4.032.730
Taxes		670/3	3.541.713	4.039.708
Adjustment of income taxes and write-back of tax provisions		77	-491	6.978
Gain (loss) of the period (+)/(-)		9904	11.832.675	12.569.356
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Gain (loss) of the period available for appropriation ..(+)/(-)		9905	11.832.675	12.569.356

F-cap 5

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated (+)/(-)	9906	11.832.675	12.569.356
Gain (loss) of the period available for appropriation (+)/(-)	(9905)	11.832.675	12.569.356
Profit (loss) brought forward (+)/(-)	14P
Withdrawals from capital and reserves	791/2	9.000.000	12.000.000
on the contribution	791
from reserves	792	9.000.000	12.000.000
Transfer to capital and reserves	691/2	11.832.675	12.569.356
to the contribution	691
to legal reserve	6920
to other reserves	6921	11.832.675	12.569.356
Profit (loss) to be carried forward (+)/(-)	(14)
Owners' contribution in respect of losses	794
Profit to be distributed	694/7	9.000.000	12.000.000
Dividends	694	9.000.000	12.000.000
Directors' or managers' entitlements	695
Employees	696
Other beneficiaries	697

F-cap 6.2.3

	Codes	Period	Preceding period
CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx	3.467.477
Movements during the period
Acquisitions, including produced fixed assets	8022	236.169
Sales and disposals	8032
Transfers from one heading to another (+)/(-)	8042
Acquisition value at the end of the period	8052	3.703.646
Depreciations and amounts written down at the end of the period	8122P	xxxxxxxxxxxxxxx	3.194.961
Movements during the period
Recorded	8072	125.583
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102
Transferred from one heading to another (+)/(-)	8112
Depreciations and amounts written down at the end of the period	8122	3.320.544
NET BOOK VALUE AT THE END OF THE PERIOD	211	383.102

F-cap 6.2.4

	Codes	Period	Preceding period
GOODWILL
Acquisition value at the end of the period	8053P	xxxxxxxxxxxxxxx	6.837.733
Movements during the period
Acquisitions, including produced fixed assets	8023
Sales and disposals	8033
Transfers from one heading to another (+)/(-)	8043
Acquisition value at the end of the period	8053	6.837.733
Depreciations and amounts written down at the end of the period	8123P	xxxxxxxxxxxxxxx	6.837.733
Movements during the period
Recorded	8073
Written back	8083
Acquisitions from third parties	8093
Cancelled owing to sales and disposals	8103
Transferred from one heading to another (+)/(-)	8113
Depreciations and amounts written down at the end of the period	8123	6.837.733
NET BOOK VALUE AT THE END OF THE PERIOD	212

F-cap 6.3.2

	Codes	Period	Preceding period
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period	8192P	xxxxxxxxxxxxxxx	1.474.499
Movements during the period
Acquisitions, including produced fixed assets	8162	99.331
Sales and disposals	8172
Transfers from one heading to another (+)/(-)	8182
Acquisition value at the end of the period	8192	1.573.830
Revaluation surpluses at the end of the period	8252P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8212
Acquisitions from third parties	8222
Cancelled	8232
Transferred from one heading to another (+)/(-)	8242
Revaluation surpluses at the end of the period	8252
Depreciations and amounts written down at the end of the period	8322P	xxxxxxxxxxxxxxx	653.263
Movements during the period
Recorded	8272	252.577
Written back	8282
Acquisitions from third parties	8292
Cancelled owing to sales and disposals	8302
Transferred from one heading to another (+)/(-)	8312
Depreciations and amounts written down at the end of the period	8322	905.840
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	667.990

F-cap 6.3.3

	Codes	Period	Preceding period
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	xxxxxxxxxxxxxxx	1.005.189
Movements during the period
Acquisitions, including produced fixed assets	8163	187.165
Sales and disposals	8173
Transfers from one heading to another (+)/(-)	8183
Acquisition value at the end of the period	8193	1.192.354
Revaluation surpluses at the end of the period	8253P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8213
Acquisitions from third parties	8223
Cancelled	8233
Transferred from one heading to another (+)/(-)	8243
Revaluation surpluses at the end of the period	8253
Depreciations and amounts written down at the end of the period	8323P	xxxxxxxxxxxxxxx	781.105
Movements during the period
Recorded	8273	156.965
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303
Transferred from one heading to another (+)/(-)	8313
Depreciations and amounts written down at the end of the period	8323	938.070
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	254.284

F-cap 6.3.5

	Codes	Period	Preceding period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	xxxxxxxxxxxxxxx	768.071
Movements during the period
Acquisitions, including produced fixed assets	8165	4.112
Sales and disposals	8175
Transfers from one heading to another (+)/(-)	8185
Acquisition value at the end of the period	8195	772.183
Revaluation surpluses at the end of the period	8255P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8215
Acquisitions from third parties	8225
Cancelled	8235
Transferred from one heading to another (+)/(-)	8245
Revaluation surpluses at the end of the period	8255
Depreciations and amounts written down at the end of the period	8325P	xxxxxxxxxxxxxxx	268.736
Movements during the period
Recorded	8275	79.946
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305
Transferred from one heading to another (+)/(-)	8315
Depreciations and amounts written down at the end of the period	8325	348.682
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	423.501

F-cap 6.4.1

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391 P	xxxxxxxxxxxxxxx	634.178
Movements during the period
Acquisitions	8361	92.378
Sales and disposals	8371
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	726.556
Revaluation surpluses at the end of the period	8451 P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8411
Acquisitions from third parties	8421
Cancelled	8431
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 period
Recorded	8471
Written back	8481
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
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
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	726.556
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8581
Repayments	8591
Amounts written down	8601
Amounts written back	8611
Exchange differences (+)/(-)	8621
Other movements (+)/(-)	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8651

F-cap 6.4.3

	Codes	Period	Preceding period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions	8363
Sales and disposals	8373
Transfers from one heading to another (+)/(-)	8383
Acquisition value at the end of the period	8393
Revaluation surpluses at the end of the period	8453P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transferred from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transferred from one heading to another (+)/(-)	8513
Amounts written down at the end of the period	8523
Uncalled amounts at the end of the period	8553P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8543
Uncalled amounts at the end of the period	8553
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	8.504
Movements during the period
Additions	8583	403.651
Repayments	8593
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
Other movements (+)/(-)	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	412.155
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8653

F- cap 6.5.1

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES

NAME full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the COMPANY IDENTIFICATION NUMBER	Rights held
	Nature	directly		subsidiaries
		Number	%	%

Shangai Arteco Coolants Science and Technology CO., LTD. Foreign company Fu Zhou Road - Huaxin Hai Xin Biulding 666 box 7/F3, 200001 Shangai, China
	Shares	1	100
Arteco Coolants India Private Limited U24233MH2010PTC201618 Foreign company Town Square, Vinam Nagar 304A box 3rd floor, 411014 Pune, India
	Equity shares	1.151.083	99,99
Arteco US LLC 6113038 Foreign company Little Falls Drive 251 box -, DE 19808 Wilmington, United States
	shares	1	100

NAME full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the COMPANY IDENTIFICATION NUMBER	Data extracted from the most recent annual accounts
	Annual accounts as per	Currency code	Capita land reserves	Net result
			(+) or (-)
			(in units)
Shangai Arteco Coolants Science and Technology CO., LTD. Foreign company Fu Zhou Road - Huaxin Hai Xin Biulding 666 box 7/F3, 200001 Shangai, China	31/12/2021	CNY	38.599.012	3.241.678

Arteco Coolants India Private Limited U24233MH2010PTC201618 Foreign company Town Square, Vinam Nagar 304A box 3rd floor, 411014 Pune, India	31/03/2022	INR	280.134.000	62.944.000

Arteco US LLC 6113038 Foreign company Little Falls Drive 251 box -, DE 19808 Wilmington, United States	31/12/2021	USD		-38.025

F-cap 6.7.1

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

	Codes	Period	Preceding period
STATEMENT OF CAPITAL
Capital
Issued capital at the end of the period	100P	xxxxxxxxxxxxxxx	6.286.000
Issued capital at the end of the period	(100)	6.286.000

	Codes	Value	Number of shares
Changes during the period
Structure of the capital
Different categories of shares
Shares without nominal value		6.286.000	253.568
Registered shares	8702	xxxxxxxxxxxxxx	253.568
Shares dematerialized	8703	xxxxxxxxxxxxxx

	Codes	Uncalled amount	Capital called but not paid
Capital not paid
Uncalled capital	(101)		xxxxxxxxxxxxxx
Called up capital, unpaid	8712	xxxxxxxxxxxxxx
Shareholders having yet to pay up in full

	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
Corresponding number of shares	8732
Commitments to issue shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans	8740
Amount of capital to be subscribed	8741
Corresponding maximum number of shares to be issued	8742
Owing to the exercise of subscription rights
Number of outstanding subscription rights	8745
Amount of capital to be subscribed	8746
Corresponding maximum number of shares to be issued	8747
Authorized capital not issued	8751

F-cap 6.7.1

	Codes	Period
Shares issued, non representing capital
Distribution
Number of shares	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidiaries	8781

	Period
Supplementary explanation relating to the contribution (including the industry contribution)

F-cap 6.8

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

	Period
ANALYSIS OF THE HEADING 164/5 OF LIABILITIES IF THE AMOUNT IS SIGNIFICANT
Provision underfunding groupinsurance	206.670
Impairment Arteco Russia	100.000

F-cap 6.9

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED INCOME

	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 year
Financial debts	8801	266.394
Subordinated loans	8811
Unsubordinated debentures	8821
Leasing and other similar obligations	8831
Credit institutions	8841	266.394
Other loans	8851
Trade debts	8861
Suppliers	8871
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)	266.394
Amounts payable with a remaining term of more than one but not more than five years
Financial debts	8802
Subordinated loans	8812
Unsubordinated debentures	8822
Leasing and other similar obligations	8832
Credit institutions	8842
Other loans	8852
Trade debts	8862
Suppliers	8872
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892
Other amounts payable	8902
Total amounts payable with a remaining term of more than one but not more than five years	8912
Amounts payable with a remaining term of more than five years
Financial debts	8803
Subordinated loans	8813
Unsubordinated debentures	8823
Leasing and other similar obligations	8833
Credit institutions	8843
Other loans	8853
Trade debts	8863
Suppliers	8873
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

	Codes	Period
GUARANTEED AMOUNTS PAYABLE (included in headings 17 and 42/48 of the liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and similar obligations	8951
Credit institutions	8961
Other loans	8971
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 its own assets
Financial debts	8922
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and similar obligations	8952
Credit institutions	8962
Other loans	8972
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 enterprise on its own assets	9062

	Codes	Period
TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 and 179 of the liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073	448.486
Estimated taxes payable	450
Remuneration and social security (headings 454/9 and 179 of the liabilities)
Amounts due to the National Social Security Office	9076
Other amounts payable in respect of remuneration and social security	9077	2.306.305

	Period
ACCRUALS AND DEFERRED INCOME
Allocation of heading 492/3 of liabilities if the amount is significant
Public funding VLAIO	608.038
Unrealized profit from exchange rate differences	53.582

F-cap 6.10

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Net turnover
Allocation by categories of activity
Allocation into geographical markets
Other operating income
Operating subsidies and compensatory amounts received from public authorities	740	420.360	541.912
OPERATING CHARGES
Employees for whom the enterprise submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	71	65
Average number of employees calculated in full-time equivalents	9087	67,5	62,0
Number of actual worked hours	9088	99.333	93.235
Personnel costs
Remuneration and direct social benefits	620	6.844.443	5.989.900
Employers' contribution for social security	621	1.679.994	1.548.058
Employers' premiums for extra statutory insurance	622	568.775	542.527
Other personnel costs (+)/(-)	623	782.888	560.612
Retirement and survivors' pensions	624

	Codes	Period	Preceding period
Provisions for pensions and other similar rights
Appropriations (uses and write-backs) (+)/(-)	635		-15.205
Amounts written off
Stocks and contracts in progress
Recorded	9110	42.665	76.351
Written back	9111	84.194	65.967
Trade debts
Recorded	9112	150.836	10.786
Written back	9113	105.202	4.259
Provisions for liabilities and charges
Additions	9115	306.670
Uses and write-backs	9116		15.205
Other operating charges
Taxes related to operation	640	36.510	36.750
Other costs	641/8
Hired temporary staff and personnel placed at the enterprise's disposal
Total number at the closing date	9096	1	2
Average number calculated in full-time equivalents	9097	1,4	4,1
Number of actual worked hours	9098	2.673	7.755
Costs to the enterprise	617	97.875	373.640

F-cap 6.11

FINANCIAL RESULTS

	Codes	Period	Preceding period
RECURRING FINANCIAL INCOME
Other financial income
Subsidies granted by public authorities and recorded as income for the period
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
Currency differences realized	754
Others
Exchange rate gains		620.876	333.490
Intrests		1.682	146
Payment Differences		1.103	6.389
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501
Capitalized Interests	6502
Amounts written off current assets
Recorded	6510
Written back	6511
Other financial charges
Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial charges
Currency differences realized	654
Currency translation differences	655
Others
Exhange rate losses		790.575	262.320
Bank costs		26.854	29.224
Payment differences		1.139	3.991

F-cap 6.12

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

	Codes	Period	Preceding period
NON RECURRING INCOME	76		7.694
Non-recurring operating income	(76A)		7.694
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
Write-back of provisions for non-recurring operating liabilities and charges ..	7620
Capital gains on disposal of intangible and tangible fixed asset	7630
Other non-recurring operating income	764/8		7.694
Non-recurring financial income	(76B)
Write-back of amounts written down financial fixed assets	761
Write-back of provisions for non-recurring financial liabilities and charges	7621
Capital gains on disposal of financial fixed assets	7631
Other non-recurring financial income	769
NON-RECURRING EXPENSES	66	948.446	5.147
Non-recurring operating charges	(66A)	28.965	5.147
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660
Provisions for non-recurring 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	28.965	5.147
Non-recurring operating charges carried to assets as restructuring costs .(-)	6690
Non-recurring financial charges	(66B)	919.481
Amounts written off financial fixed assets	661
Provisions for non-recurring financial liabilities and charges: Appropriations (uses) (+)/(-)	6621
Capital losses on disposal of financial fixed assets	6631
Other non-recurring financial charges	668	919.481
Non-recurring financial charges carried to assets as restructuring costs (-)	6691

F-cap 6.13

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	3.541.713
Income taxes paid and withholding taxes due or paid	9135	4.028.160
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136
Estimated additional taxes	9137	-486.447
Income taxes on the result of prior periods	9138
Additional income taxes due or paid	9139
Additional income taxes estimated or provided for	9140
In so far as taxes of the period are materially affected by differences between the profit before taxes as stated in annual accounts and the estimated taxable profit
disallowed expenses (+)/(-)		237.455
Public funding VLAIO (+)/(-)		-420.360
Tax Exempt dividend Arteco India (+)/(-)		-999.999

	Period
Impact of non recurring results on the amount of the income taxes relating to the current period

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141
Accumulated tax losses deductible from future taxable profits	9142
Other deferred taxes representing assets
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

	Codes	Period	Preceding period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	31.672.116	24.708.631
By the enterprise	9146	29.946.469	21.940.359
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	1.998.672	1.661.182
For withholding taxes on investment income	9148	279	28

F-cap 6.14

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 which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the enterprise	9153
REAL GUARANTEES
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of the enterprise
Mortgages
Book value of the immovable properties mortgaged	91611
Amount of registration	91621
Amount of registration by mandate	91631
Pledging of goodwill
Pledging of goodwill - Max amount	91711
Pledging of goodwill - Amount of the registration by mandate	91721
Pledging of other assets
Pledging of other assets - Book value	91811
Pledging of other assets - Max amount	91821
Guarantees provided on future assets
Guarantees provided on future assets - Amount assets involved	91911
Guarantees provided on future assets - Max amount	91921
Seller privilege
Seller privilege - Book value	92011
Seller privilege - Unpaid amount	92021

	Codes	Period
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of third parties
Mortgages
Book value of the immovable properties mortgaged	91612
Amount of registration	91622
Amount of registration by mandate	91632
Pledging of goodwill
Pledging of goodwill - Max amount	91712
Pledging of goodwill - Amount of the registration on goodwill pledged by mandate	91722
Pledging of other assets
Pledging of other assets - Book value	91812
Pledging of other assets - Max amount	91822
Guarantees provided on future assets
Guarantees provided on future assets - Amount assets involved	91912
Guarantees provided on future assets - Max amount	91922
Seller privilege
Seller privilege - Book value	92012
Seller privilege - Unpaid amount	92022

	Codes	Period
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 ENTERPRISE
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215
Currencies sold (to be delivered)	9216

	Period
COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

	Period
AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS
Arteco has contractual obligations for the purchase of raw materials during 2023, with several suppliers, estimation based on moving average over the year 2022	38.407.600

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

Brief description

Group insurance that provides a supplementary pension, the contributions of which are paid by the employer and employee. In the event of death before retirement age, the scheme provides coverage based on the reference salary.

The contributions are recognized annually in the results based on the invoices received by the insurance company.

At the end of the 2022 financial year, there is a limited underfunding to guarantee the legal return.

Arteco has taken this into provision end of 2022, this in line with the legal requirements.

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 AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE NOT INCLUDED IN THE BALANCE SHEET OR THE INCOME STATEMENT
In January 2023, Arteco NV took out an 8-year loan of €11.3 million with a Belgian bank. Arteco NV then entered into a loan agreement with its subsidiary in China (Shanghai Arteco Coolants Science and Technology) to finance the extension of our current business. Exchange rate risk and interest rate risk that may arise from the transactions are hedged with financial derivatives. This loan has no impact on the financial year ended December 31, 2022.

	Period
COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR SALE OR PURCHASE

	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 the disclosure of the risks or advantages is necessary to appreciate the financial situation of the company
Total future leasing obligations buildings	2.741.253
Payable 2023	255.000
Payable 2024-2028	1.275.001
Payable after 2028	1.211.251

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

F-cap 6.15

RELATIONSHIPS WITH AFFILIATED ENTERPRISES, ASSOCIATED ENTERPRISES AND OTHERS ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	726.556	634.178
Participating interests	(280)	726.556	634.178
Subordinated amounts receivable	9271
Other amounts receivable	9281
Amounts receivable	9291	6.074.835	6.271.091
Over one year	9301
Within one year	9311	6.074.835	6.271.091
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	1.574.286	819.643
Over one year	9361
Within one year	9371	1.574.286	819.643
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of affiliated enterprises	9381
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391
Other significant financial commitments	9401
Financial results
Income from financial fixed assets	9421	999.999
Income from current assets	9431
Other financial income	9441
Debt charges	9461
Other financial charges	9471
Disposal of fixed assets
Capital gains obtained	9481
Capital losses suffered	9491

	Codes	Period	Preceding period
ASSOCIATED ENTERPRISES
Financial fixed assets	9253
Participating interests	9263
Subordinated amounts receivable	9273
Other amounts receivable	9283
Amounts receivable	9293
Over one year	9303
Within one year	9313
Amounts payable	9353
Over one year	9363
Within one year	9373
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of associated enterprises	9383
Provided or irrevocably promised by associated enterprises as security for debts or commitments of the enterprise	9393
Other significant financial commitments	9403
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	9252
Participating interests	9262
Subordinated amounts receivable	9272
Other amounts receivable	9282
Amounts receivable	9292
Over one year	9302
Within one year	9312
Amounts payable	9352
Over one year	9362
Within one year	9372

	Period
TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS
Mention of these transactions if they are significant, including the amount of the transactions, the nature of the link, and all information about the transactions which should be necessary to get a better understanding of the situation of the company
Annex added to the valuation rules

F-cap 6.16

FINANCIAL RELATIONSHIPS WITH

	Codes	Period
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
Guarantees provided in their favour	9501
Other significant commitments undertaken in their favour	9502
Amount of direct and indirect remunerations and pensions, included in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person
To directors and managers	9503
To former directors and former managers	9504

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO
Auditor's fees	9505	40.000
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061
Tax consultancy	95062
Other missions external to the audit	95063
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082
Other missions external to the audit	95083

Mentions related to article 3:64, §2 and §4 of the Companies and Associations Code

F-cap 6.18.1

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

INFORMATION TO DISCLOSE BY EACH ENTERPRISE THAT IS SUBJECT TO COMPANY LAW ON THE CONSOLIDATED ACCOUNTS OF ENTERPRISES

The enterprise neither prepares nor publishes consolidated financial statements and a relating annual report for one of the following reasons

The enterprise itself is a subsidiary of an enterprise which does prepare and publish consolidated accounts in which annual accounts of the enterprise are included.

If yes, justification of the compliance with all conditions for exemption set out in art. 3:26, §2 and §3 of Company Law

Chevron Corporation (USA) and TotalEnergies SE (FR), each consolidate Arteco NV for 50% in their annual accounts. That is why Arteco has an exemption for sub-consolidation, approved by the Extraordinary General Assembly of 28/05/2022.

Chevron Corporation (USA)

Bollinger Canyon Road 6001

TotalEnergies SE

FR59542051180

Place Jean Miller 2, 92400 Courbevoie, France

INFORMATION TO DISCLOSE BY THE REPORTING ENTERPRISE BEING A SUBSIDIARY OR A JOINT SUBSIDIARY

1. TotalEnergies Lubrifiants SA	Consolidating entity - Biggest grouping
FR66552006454
Avenue du Parc de L'île 562, 92000 Nanterre, France
2. Chevron Belgium bv	Consolidating entity - Biggest grouping
0403.093.396
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium

If the parent enterprise(s) is (are) (an) enterprise(s) governed by foreign law disclose where the consolidated accounts can be obtained ^* :

1. TotalEnergies Lubrifiants SA	TotalEnergies SE
	Place Jean Millier 2, 92400 Courbevoie, France
2. Chevron Belgium bv	Chevron Corporation
	Bollinger Canyon Road 6001, 94583 San Ramon, California, United States

F-cap 6.18.2

FINANCIAL RELATIONSHIPS OF THE GROUP LED BY THE ENTERPRISE IN BELGIUM WITH AUDITORS OR WITH PEOPLE THEY ARE LINKED TO

	Codes	Period
Mentions related to article 3:65, §4 and §5 of the Companies and Associations Code
Auditor's fees according to a mandate at the group level led by the company publishing the information	9507	40.000
Fees for exceptional services or special missions executed in these group by the auditor
Other attestation missions	95071
Tax consultancy	95072
Other missions external to the audit	95073
Fees to people auditors are linked to according to the mandate at the group level led by the company publishing the information	9509	12.852
Fees for exceptional services or special missions executed in the group by people they are linked to
Other attestation missions	95091
Tax consultancy	95092
Other missions external to the audit	95093

Mentions related to article 3:64, §2 and §4 and of the Companies and Associations Code

F-cap 6.19

VALUATION RULES

Waarderingsregels Beginsel

Bijzondere regels

1. Oprichtingskosten

Waardering tegen aanschaffingsprijs en afschrijving tegen jaarlijks maximum 20%, indien deze niet onmiddellijk ten laste genomen worden.

2. Immateriële vaste activa

Waardering tegen aanschaffingsprijs en afschrijving tegen hiernavolgende jaarlijkse percentages:

―	software 20% - met uitzondering van SAP-project dat wordt afgeschreven tegen 33,33%
―	goodwill 20% - omdat de opbrengsten van deze goodwill gedurende 5 jaar blijft bestaan
―	licenties/octrooien 20%

Het afschrijvingspercentage is aangepast aan het economisch doel van het project.

3. Materiële vaste activa

Waardering tegen aanschaffingswaarde, eventueel verhoogd met bijkomende kosten. De investeringen worden lineair afgeschreven tegen de hiernavolgende percentages:

Installaties
Occasiemateriaal	20%
Nieuw Materiaal	5%
Hardware	33,33%
Meubilair	20%
Andere materiële Vaste Activa
Inrichtingskosten	10%
Publiciteitsmateriaal	10%

4. Handelsvorderingen

Waardering tegen nominale waarde. Waardevermindering wordt toegepast ingeval van risico van niet-recuperatie.

5. Vorderingen en Schulden

	Waardering tegen nominale waarde. Waardevermindering wordt toegepast ingeval van oninbaarheid of blijvend waardeverlies.
	Vorderingen en schulden in vreemde valuta worden gewaardeerd tegen de wisselkoers op het einde van het boekjaar. Niet-gerealiseerde positieve omrekeningsverschillen worden overgedragen naar volgend boekjaar.

6. Voorraden

	De voorraad grond- en hulpstoffen wordt gewaardeerd tegen de aanschaffingsprijs volgens FIFO-methode.
	De voorraad gereed product wordt gewaardeerd tegen vervaardigingsprijs volgens de methode van gewogen gemiddelde prijzen. De vervaardigingsprijs omvat de kostprijs van de verbruikte gronden hulpstoffen en de fabricatiekost. Goederen die gedurende een bepaalde periode niet meer bewogen zijn, worden als dode stock beschouwd. Hiervoor wordt een waardevermindering van de stock toegepast.

7. Fiscale en sociale voorzieningen

Deze voorzieningen worden gevormd overeenkomstig de legale en fiscale bepalingen die van toepassing zijn.

8. Opneming van de buitenlandse bijkantoren in vreemde munten

De omrekening van de bijkantoren in vreemde munten, die niet geintegreerd zijn in het ERP systeem, gebeurt per kwartaal volgens de monetaire/niet monetaire methode waarbij de positieve en negatieve omrekeningsverschillen in resultaat worden genomen.

BELANGRIJKE TRANSACTIES MET VERBONDEN ONDERNEMINGEN BUITEN NORMALE MARKTVOORWAARDEN, ZOALSOMSCHREVEN IN KONINKLIJK BESLUIT VAN 10 AUGUSTUS 2009

Transacties met marktreferentie

De transacties die ARTECO is aangegaan met bovenstaande ondernemingen, betreffen leveringen van antivriesproducten aan de normale marktvoorwaarden en binnen een normale commerciële verhouding. Transacties zonder marktreferentie Naast de leveringen, ontvangt ARTECO van de TOTALENERGIES groep diensten zoals productie en administratieve diensten betreffende deze productie. Deze diensten worden op basis van een door beide aandeelhouders getekende serviceovereenkomst gefactureerd."

F-cap 6.20

OTHER INFORMATIONS TO DISCLOSE

Arteco's Board has approved the 2023 budget including the costs related to the Russian branch.

Arteco has a Russian EUR bank account with Unicredit of 638K€ and a bank account in Russian Rubles amounting to 29.3MIn RUB ( = 385k€) as per 31 December 2022.

• The cash on the EURO bank account is currently restricted as per local Russian law , hence the resource is not available for Arteco. ( Currently till Sept 23)

• Nevertheless, Arteco will continue trying to repatriate the cash to Belgium on an ongoing basis.

Considering the above we believe that there is a significant doubt to recover the funds on the Arteco Russian EURO bank account per closing date and concludes that the realizable value is nil per closing date. Therefore, an impairment provision for the full amount of 638k€ is set up in 2022 in accordance with articles 3:52 and 3.53 of the Royal Decree of 29 April 2019.

Article 3:52 : " impairments on cash investments and cash at bank are recorded when the realizable value is lower than the acquisition value at the closing date"

Article 3:53 : " Additional value reductions are recorded on cash investments and cash at bank when there are changes in their realizable value or market value, or when risks exist that are inherent to the nature of the products concerned or to the conducted operations.

• The bank account in Russian Rubles is not restricted and is used for paying salaries, taxes and other local expenses.

Our impairment exercise concluded that the carrying value is higher than the realizable value at the closing date, hence a full impairment has been recorded.

F-cap 7

Free English Translation

ANNUAL REPORT OF BOARD OF DIRECTORS FISCAL YEAR OF 01/01/2022 TILL 31/12/2022

Dear,

Hereby we have the pleasure, pursuant to legal and statutory requirements, to report to you with regard to the financial year 2022.

The accounting is kept in accordance with the principle of double entry. An updated accounting system is in place and the general ledger accounts are regularly updated in real-time.

All elements of the assets and liabilities are valued according to the rules determined by the board of directors and taking into account the legal requirements.

The annual accounts have been drawn up in accordance with the scheme presented by the law and all foreseeable risks, possible losses and devaluations have been taken into account.

Depreciation, write-downs and provisions for risks and charges, regardless of the result have been taken into account and have been systematically formed.

The assets of the company amounted to 31/12/2022 and were composed as follows:

45.342.850,63 Euro

	2022
Intangible Fixed Assets	383.101,59
Tangible Fixed Assets	1.345.773,63
Financial Fixed Assets	1.138.710,97
Receivables above 1 year	195.957,00
Stocks	13.729.035,04
Receivables up to 1 year	28.064.202,48
Cash and cash investments	486.069,92
Accrued charges	0,00
	45.342.850,63

The equity is valued at 31/12/2022 at and is composed as follows:

26.963.956,10 Euro

Capital	6.286.000,00
Legal reserves	628.600,00
Available reserves	20.049.356,10
Carried over results	0,00
	26.963.956,10

The debts and provisions of the company amounted to the same date and were composed as follows:

18.378.894,53 Euro

Debts and provisions more than 1 year	306.669,53
Debts and provisions up to 1 year (max)	18.072.225,00
	18.378.894,53

As far as the profit and loss accounts are concerned, we close the financial year with a profit of € 11.832.674,53 and we propose you to approve the following result processing:

Result to be appropriated	11.832.674,53
Dividends to be paid	0,00
Addition to the available reserves	-11.832.674,53
	0,00

During 2022, dividends were paid out of the available reserves for the amount of 9 million euros. This by means of 3 interim dividends, in respect to the resolution of the special general assembly held the 16th of May, the 8th of August and the 17th of November 2022.

The obtained results can be presented as follows:

Revenues	-150.661.441,92
Changes in inventory	-69.588,43
Other operating income	-3.877.958,32
Purchases	104.905.954,61
Changes in inventory	-2.740.719,92
Various goods and services	26.042.677,54
Salaries and social security contributions	9.876.099,51
Depreciation	615.071,52
Provisions	210.772,22
Other company costs	36.510,44
Non-recurring income	0,00
Non-recurring costs	28.965,20
Operating result	-15.633.657,55
Financial income	-1.623.659,22
Financial costs	1.882.438,22
Result from normal operations	-15.374.878,55
Result of the fiscal year before taxes	-15.374.878,55
Taxes on the financial year	3.542.204,02
Net result of the financial year	-11.832.674,53

Information about circumstances that could significantly influence the development of the company

Arteco's Board has approved the 2023 budget including the costs related to the Russian branch.

Arteco has a Russian EUR bank account with Unicredit of 638K€ and a bank account in Russian Rubles amounting to 29.3MIn RUB ( = 385k€) as per 31 December 2022.

•	The cash on the EURO bank account is currently restricted as per local Russian law , hence the resource is not available for Arteco. ( Currently till Sept 23)
•	Nevertheless, Arteco will continue trying to repatriate the cash to Belgium on an ongoing basis.

Considering the above we believe that there is a significant doubt to recover the funds on the Arteco Russian EURO bank account per closing date and concludes that the realizable value is nil per closing date. Therefore, an impairment provision for the full amount of 638k € is set up in 2022 in accordance with articles 3:52 and 3.53 of the Royal Decree of 29 April 2019.

Article 3:52 : " impairments on cash investments and cash at bank are recorded when the realizable value is lower than the acquisition value at the closing date"

Article 3:53 : " Additional value reductions are recorded on cash investments and cash at bank when there are changes in their realizable value or market value, or when risks exist that are inherent to the nature of the products concerned or to the conducted operations.

The bank account in Russian Rubles is not restricted and is used for paying salaries , taxes and other local expenses.

Our impairment exercise concluded that the carrying value is higher than the realizable value at the closing date, hence a full impairment has been recorded.

Information about the activities in the field of research and development

In 2022, the technology team has focused on development and product launches, as well as preparing for the new product needs for our various customers. New functions have been created in USA, Japan as well as in Belgium. The focus on R&D was clearly a right direction to take and increases the interest and appreciation of our customers. The scientifical depth of the projects is supported by collaboration with universities and colleges. Some of the R&D activities are carried out under Vlaio (Flemish Agency for Innovation and Entrepreneurship).

Together with our partners, both at our customers' and our customers' suppliers, joint projects were started not only for the development of future heat transfer fluids for hybrid systems, but also for the so-called new energy vehicles (NEV).

Branch offices

The BOD informs us that the branch in Russia has no equity.

In 2022, operating income was realized for:	-599.780,10
In 2022 the costs of the branch office	609.824,95
The net result of the branch is:	10.044,85 Euro

The BOD informs us that the branch in Japan has no equity.

In 2022, operating income was realized for:	0,00
In 2022 the costs of the branch office	176.432,22
The net result of the branch is:	176.432,22 Euro

The BOD informs us that the branch in Czech Republic has no equity.

In 2022, operating income was realized for:	0,00
In 2022 the costs of the branch office	187.654,53
The net result of the branch is:	187.654,53 Euro

The BOD informs us that the branch in France has no equity.

In 2022, operating income was realized for:	0,00
In 2022 the costs of the branch office	872.879,12
The net result of the branch is:	872.879,12 Euro

The BOD informs us that the branch in Germany has no equity.

In 2022, operating income was realized for:	0,00
In 2022 the costs of the branch office	341.067,86
The net result of the branch is:	341.067,86 Euro

The BOD informs us that the branch in UK has no equity.

In 2022, operating income was realized for:	0,00
In 2022 the costs of the branch office	179.033,10
The net result of the branch is:	179.033,10 Euro

Own shares

The company does not own any shares.

Financial Instruments

In execution of art 3:6,8° of the New Belgian Company Code, the board of directors reports that in 2022 no financial instruments were used that are relevant to the assessment of its assets, liabilities, financial position and results.

Risks and uncertainties

The company is confronted with the risks and uncertainties, as referred to in Article 3:6, 1° of the New Belgian Company Code, which are inherent in its activities and its business.

Important events after the balance sheet date

In January 2023, Arteco NV took out an 8-year loan of €11.3 million with a Belgian bank. Arteco NV then entered into a loan agreement with its subsidiary in China (Shanghai Arteco Coolants Science and Technology) to finance the extension of our current business. Exchange rate risk and interest rate risk that may arise from the transactions are hedged with financial derivatives. This loan has no impact on the financial year ended December 31, 2022.

Conflicts of interest directors

We request that you approve the annual accounts as of December 31, 2022 and grant the statutory auditor and us discharge for the exercise of our mandate for the past financial year.

Signed at Schoten, April 26th, 2023

The Board of Directors

J. PARIZOT

T. CHANG

N. DEBBASCH

D. LINCOLN

O. BERTOMEU

E. DEVRIESE

P. DE JONGHE

P. MCCLOUD

F-cap 8

FREE TRANSLATION

STATUTORY AUDITOR'S REPORT TO THE GENERAL SHAREHOLDERS' MEETING OF ARTECO NV ON THE ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

We have been appointed as statutory auditor by the general meeting d.d. 8 July 2020, following the proposal formulated by the board of directors and following the proposal formulated by the works' council. Our mandate will expire on the date of the general meeting which will deliberate on the annual accounts for the year ended 31 December 2022. We have performed the statutory audit of the Company's annual accounts for 18 consecutive years.

Report on the annual accounts

Unqualified opinion

We have performed the statutory audit of the Company's annual accounts, which comprise the balance sheet as at 31 December 2022, and the profit and loss account for the year then ended, and the notes to the annual accounts, characterised by a balance sheet total of EUR 45.342.851 and a profit and loss account showing a profit for the year of EUR 11.832.675.

In our opinion, the annual accounts give a true and fair view of the Company's net equity and financial position as at 31 December 2022, and of its results for the year then ended, in accordance with the financial-reporting framework applicable in Belgium.

Basis for unqualified opinion

We have obtained from the board of directors and Company officials the explanations and information necessary for performing our audit.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of the board of directors for the preparation of the annual accounts

Statutory auditor's responsibilities for the audit of the annual accounts

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

•	Identify and assess the risks of material misstatement of the annual accounts, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
•	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control;
•	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the board of directors;
•	Conclude on the appropriateness of the board of directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our statutory auditor's report to the related disclosures in the annual accounts or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our statutory auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern;
•	Evaluate the overall presentation, structure and content of the annual accounts, including the disclosures, and whether the annual accounts represent the underlying transactions and events in a manner that achieves fair presentation;

Other legal and regulatory requirements

Responsibilities of the board of directors

Statutory auditor's responsibilities

Aspects related to the directors' report

Statement related to the social balance sheet

Statement related to independence

Our registered audit firm and our network did not provide services which are incompatible with the statutory audit of the annual accounts and our registered audit firm remained independent of the Company in the course of our mandate.

Other statements

•	Without prejudice to formal aspects of minor importance, the accounting records were maintained in accordance with the legal and regulatory requirements applicable in Belgium.
•	The appropriation of results proposed to the general meeting complies with the legal provisions and the provisions of the articles of association.
•	There are no transactions undertaken or decisions taken in breach of the Company's articles of association or the Companies' and Associations' Code that we have to report to you.

Diegem, 5 May 2023

PwC Reviseurs d'Entreprises SRL / Pwc, Bedrijfsrevisoren BV

The statutory auditor

Represented by

Ann Cleenewerck, Réviseur d'Entreprises / Bedrijfsrevisor

F-cap 10

SOCIAL BALANCE SHEET

Number of joint industrial committee: 207

STATEMENT OF THE PERSONS EMPLOYED

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

During the current period	Codes	Total	1. Men	2. Women
Average number of employees
Full-time	1001	59,8	33,7	26,1
Part-time	1002	9,6	1,4	8,2
Total in full-time equivalents	1003	67,5	34,9	32,6
Number of hours actually worked
Full-time	1011	86.482	47.516	38.966
Part-time	1012	12.851	2.091	10.760
Total	1013	99.333	49.607	49.726
Personnel costs
Full-time	1021	8.741.872	4.848.486	3.893.386
Part-time	1022	1.134.228	196.738	937.490
Total	1023	9.876.100	5.045.224	4.830.876
Advantages in addition to wages	1033	76.769	37.499	39.270

During the preceding period	Codes	P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003	62,0	33,0	29,0
Number of hours actually worked	1013	93.235	49.659	43.576
Personnel costs	1023	8.641.096	4.680.065	3.961.031
Advantages in addition to wages	1033

At the closing date of the period	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees	105	59	12	69,0
By nature of the employment contract
Contract for an indefinite period	110	58	12	68,0
Contract for a definite period	111	1		1,0
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to gender and study level
Men	120	33	2	34,8
primary education	1200
secondary education	1201	3		3,0
higher non-university education	1202	12	1	12,9
university education	1203	18	1	18,9
Women	121	26	10	34,2
primary education	1210
secondary education	1211	1	1	1,8
higher non-university education	1212	11	6	15,9
university education	1213	14	3	16,5
By professional category
Management staff	130
Employees	134	59	12	69,0
Workers	132
Others	133

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE ENTERPRISE'S DISPOSAL

During the period	Codes	1. Hired temporary staff	2. Persons placed at the enterprise's disposal
Average number of persons employed	150	1,4
Number of hours actually worked	151	2.673
Costs for the enterprise	152	97.875

LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

ENTRIES	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees for whom the entreprise submitted a DIMONA declaration or who have been recorded in the general personnel register during the financial year	205	8	2	9,7
By nature of employment contract
Contract for an indefinite period	210	6	2	7,7
Contract for a definite period	211	2		2,0
Contract for the execution of a specifically assigned work	212
Replacement contract	213

DEPARTURES	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
Number of employees whose contract-termination date has been entered in DIMONA declaration or in the general personnel register during the financial year	305	4		4,0
By nature of employment contract
Contract for an indefinite period	310	1		1,0
Contract for a definite period	311	3		3,0
Contract for the execution of a specifically assigned work	312
Replacement contract	313
By reason of termination of contract
Retirement	340
Unemployment with extra allowance from enterprise	341
Dismissal	342
Other reason	343	4		4,0
the number of persons who continue to render services to
the enterprise at least half-time on a self-employed basis ..	350

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

	Codes	Men	Codes	Women
Total of initiatives of formal professional training at the expense of the employer
Number of employees involved	5801	8	5811	25
Number of actual training hours	5802	41	5812	348
Net costs for the enterprise	5803	3.013	5813	28.738
of which gross costs directly linked to training	58031	2.760	58131	26.599
of which fees paid and paiments to collective funds	58032	253	58132	2.139
of which grants and other financial advantages received (to deduct)	58033		58133
Total of initiatives of less formal or informal professional training at the expense of the employer
Number of employees involved	5821	10	5831	15
Number of actual training hours	5822	244	5832	272
Net costs for the enterprise	5823	16.057	5833	20.965
Total of initiatives of initial professional training at the expense of the employer
Number of employees involved	5841		5851
Number of actual training hours	5842		5852
Net costs for the enterprise	5843		5853

2e:T564c3,

ARTECO NV, Germany

Hamburg

Befreiender Jahresabschluss gem. §325 a HGB
zum Geschäftsjahr vom 01.01.2021 bis zum 31.12.2021

ARTECO NV

Schoten/Belgien

ANNUAL ACCOUNTS AND/OR OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

IDENTIFICATION DETAILS (at the filing date)

NAME: Arteco

Legal form: Public limited company

Address: Metropoolstraat

Nr.: 25

Box:

Postal code: 2900

Town: Schoten

Country: Belgium

Website ¹ :

E-mail address ¹ : maarten.nachtergaele@arteco-coolants.com

Company registration number 0463.801.936

DATE 12/05/2017 of filing the most recent document mentioning the date of publication of the deed of incorporation and of the deed of amendment of the articles of association.

This filing concerns:

[X] the ANNUAL ACCOUNTS in EUR approved by the general meeting of 27/05/2022

[X] the OTHER DOCUMENTS

regarding

the financial year covering the period from 01 / 01 /2021 to 31 / 12 / 2021

the preceding period of the annual accounts from 01 / 01 / 2020 to 31 / 12 / 2020

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

Total number of pages filed: 56 Numbers of the sections of the standard model form not filed because they serve no useful purpose: 6.1, 6.2.1, 6.2.2, 6.2.5, 6.3.1, 6.3.4, 6.3.6, 6.4.2, 6.5.2, 6.6, 6.7.2, 6.8, 6.17, 9, 11, 12, 13, 14, 15

Jean Parizot, Chairman of the Board

Alexandre Moireau, General Manager

¹ Optional mention.
² Strike out what does not apply.

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

Jean Parizot	Chairman of the board of directors
Villa de la Renaissance 4, 92270 Bois Colombes, France	01/01/2020 - 27/05/2022
Eddy Devriese	Director
Disselstraat 5, 2350 Vosselaar, Belgium	31/05/2019 - 27/05/2022
Olivier Bellion	Director
Rue de Tourville, Batiment C1 26, 78100 Saint Germain en Laye, France	01/04/2020 - 27/05/2022
Dominique Berges	Director
Avenue Des Gobellins 7, 75005 Parijs, France	31/05/2019 - 27/05/2022
Rochna Kaul	Director
Leonie Hill #22-28 Leonie Towers 28, 239227 Singapore, India	01/12/2020 - 27/05/2022
Patrick McCloud	Director
PO Box 6046 6046, 94583 San Ramon, United States	01/12/2020 - 27/05/2022
Thomas Chang	Director
Horseferry Road 70, SW1P 2DU London, United Kingdom	01/05/2021 - 27/05/2022
Peter De Jonghe	Director
Ter Varentstraat 68, 2640 Mortsel, Belgium	01/10/2021 - 27/05/2022
PWC Bedrijfsrevisoren BV	Auditor
Nr.: 0429.501.944	29/05/2020 - 26/05/2023
Culliganlaan 5, 1831 Diegem, Belgium
Membership nr.: B00009

Represented by:

Ann Cleenewerck

Culliganlaan 5, 1831 Diegem, Belgium

Membership nr.: A01735

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 22 ^th April 1999 concerning accounting and tax professions.

The annual accounts [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.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
Formation expenses	6.1	20
FIXED ASSETS		21/28	2.459.851	3.079.359
Intangible fixed assets	6.2	21	272.515	815.820
Tangible fixed assets	6.3	22/27	1.544.654	1.620.857
Land and buildings		22
Plant, machinery and equipment		23	821.236	768.508
Furniture and vehicles		24	224.084	273.310
Leasing and similar rights		25
Other tangible fixed assets		26	499.334	579.039
Assets under construction and advance payments		27
Financial fixed assets	6.4/6.5.1	28	642.682	642.682
Affiliated enterprises	6.15	280/1	634.178	634.178
Participating interests		280	634.178	634.178
Amounts receivable		281
Enterprises linked by participating interests	6.15	282/3
Participating interests		282
Amounts receivable		283
Other financial assets		284/8	8.504	8.504
Shares		284
Amounts receivable and cash guarantees		285/8	8.504	8.504
CURRENT ASSETS		29/58	40.283.507	33.046.240
Amounts receivable after more than one year		29		293.836
Trade debtors		290
Other amounts receivable		291		293.836
Stocks and contracts in progress		3	11.133.599	7.050.379
Stocks		30/36	11.133.599	7.050.379
Raw materials and consumables		30/31	5.029.210	3.439.825
Work in progress		32
Finished goods		33	5.448.171	3.489.471
Goods purchased for resale		34	238.942	121.083
Immovable property intended for sale		35
Advance payments		36	417.276
Contracts in progress		37
Amounts receivable within one year		40/41	28.467.660	20.716.268
Trade debtors		40	26.856.764	19.082.068
Other amounts receivable		41	1.610.896	1.634.200
Current investments	6.5.1/6.6	50/53
Own shares		50
Other investments		51/53
Cash at bank and in hand		54/58	682.248	4.979.616
Deferred charges and accrued income	6.6	490/1		6.141
TOTAL ASSETS		20/58	42.743.358	36.125.599

	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
Equity		10/15	24.131.282	23.561.926
Contribution	6.7.1	10/11	6.286.000	6.286.000
Capital		10	6.286.000	6.286.000
Issued capital		100	6.286.000	6.286.000
Uncalled capital ⁴		101
Outside the capital		11
Share premium account		1100/10
Others		1100/19
Revaluation surpluses		12
Reserves		13	17.845.282	17.275.926
Reserves not available		130/1	628.600	628.600
Legal reserve		130	628.600	628.600
Reserves statutorily not available		1311
Aquisition of own shares		1312
Financial support		1313
Other		1319
Untaxed reserves		132
Available reserves		133	17.216.682	16.647.326
Accumulated profits (losses) (+)/(-)		14
Investment grants		15
Advance to associates on the sharing out of the assets ⁵		19
PROVISIONS AND DEFERRED TAXES		16		15.205
Provisions for liabilities and charges		160/5		15.205
Pensions and similar obligations		160		15.205
Taxation		161
Major repairs and maintenance		162
Environmental obligations		163
Other liabilities and charges	6.8	164/5
Deferred taxes		168

⁴ Amount to substract of the issued capital
⁵ Amount to substract from the other part of the equity

	Discl.	Codes	Period	Preceding period
AMOUNTS PAYABLE		17/49	18.612.076	12.548.468
Amounts payable after more than one year	6.9	17	266.394	568.817
Financial debts		170/4	266.394	568.817
Subordinated loans		170
Unsubordinated debentures		171
Leasing and other similar obligations		172
Credit institutions		173	266.394	568.817
Other loans		174
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year	6.9	42/48	18.345.682	11.437.739
Current portion of amounts payable after more than one year falling due within one year		42	302.423	375.726
Financial debts		43
Credit institutions		430/8
Other loans		439
Trade debts		44	15.610.153	7.905.348
Suppliers		440/4	15.610.153	7.905.348
Bills of exchange payable		441
Advances received on contracts in progress		46
Taxes, remuneration and social security	6.9	45	2.433.106	3.156.665
Taxes		450/3	510.730	1.300.277
Remuneration and social security		454/9	1.922.376	1.856.388
Other amounts payable		47/48
Accruals and deferred income	6.9	492/3		541.912
TOTAL LIABILITIES		10/49	42.743.358	36.125.599

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income		70/76A	149.496.448	109.178.532
Turnover	6.10	70	143.797.870	106.185.916
Stocks of finished goods and work and contracts in progress:
increase (decrease) (+)/(-)		71	1.958.700	-641.051
Own work capitalised		72
Other operating income	6.10	74	3.732.183	3.588.394
Non-recurring operating income	6.12	76A	7.695	45.273
Operating charges		60/66A	132.887.260	92.578.288
Raw materials, consumables		60	100.535.657	62.967.496
Purchases		600/8	102.253.286	62.549.527
Stocks: decrease (increase) (+)/(-)		609	-1.717.629	417.969
Services and other goods		61	22.544.249	20.170.561
Remuneration, social security costs and pensions (+)/(-)	6.10	62	8.641.096	8.247.820
Depreciation of and other amounts written off formation expenses, intangible and tangible fixed assets		630	1.122.655	1.083.699
Amounts written off stocks, contracts in progress and trade debtors: Appropriations (write-backs) (+)/(-)	6.10	631/4	16.912	-8.008
Provisions for liabilities and charges: Appropriations (uses and write-backs) (+)/(-)	6.10	635/8	-15.205	-14.036
Other operating charges	6.10	640/8	36.749	36.775
Operating charges carried to assets as restructuring costs (-)		649
Non-recurring operating charges	6.12	66A	5.147	93.981
Operating profit (loss) (+)/(-)		9901	16.609.188	16.600.244
Financial income		75/76B	340.025	162.284
Recurring financial income		75	340.025	162.284
Income from financial fixed assets		750
Income from current assets		751
Other financial income	6.11	752/9	340.025	162.284
Non-recurring financial income	6.12	76B
Financial charges		65/66B	347.127	435.169
Recurring financial charges	6.11	65	347.127	435.169
Debt charges		650	51.592	19.492
Amounts written off current assets except stocks, contracts in progress and trade debtors: appropriations (write-backs) (+)/(-)		651
Other financial charges		652/9	295.535	415.677
Non-recurring financial charges	6.12	66B
Gain (loss) for the period before taxes (+)/(-)		9903	16.602.086	16.327.359
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes (+)/(-)	6.13	67/77	4.032.730	3.956.880
Taxes		670/3	4.039.708	3.992.636
Adjustment of income taxes and write-back of tax provisions		77	6.978	35.756
Gain (loss) of the period (+)/(-)		9904	12.569.356	12.370.479
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Gain (loss) of the period available for appropriation (+)/(-)		9905	12.569.356	12.370.479

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated (+)/(-)	9906	12.569.356	12.370.479
Gain (loss) of the period available for appropriation (+)/(-)	(9905)	12.569.356	12.370.479
Profit (loss) brought forward (+)/(-)	14P
Withdrawals from capital and reserves	791/2	12.000.000	18.000.000
on the contribution	791
from reserves	792	12.000.000	18.000.000
Transfer to capital and reserves	691/2	12.569.356	12.370.479
to the contribution	691
to legal reserve	6920
to other reserves	6921	12.569.356	12.370.479
Profit (loss) to be carried forward (+)/(-)	(14)
Owners' contribution in respect of losses	794
Profit to be distributed	694/7	12.000.000	18.000.000
Dividends	694	12.000.000	18.000.000
Directors' or managers' entitlements	695
Employees	696
Other beneficiaries	697
CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx	3.331.854
Movements during the period
Acquisitions, including produced fixed assets	8022	135.622
Sales and disposals	8032
Transfers from one heading to another (+)/(-)	8042
Acquisition value at the end of the period	8052	3.467.476
Depreciations and amounts written down at the end of the period	8122P	xxxxxxxxxxxxxxx	2.759.619
Movements during the period
Recorded	8072	435.342
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102
Transferred from one heading to another (+)/(-)	8112
Depreciations and amounts written down at the end of the period	8122	3.194.961
NET BOOK VALUE AT THE END OF THE PERIOD	211	272.515
GOODWILL
Acquisition value at the end of the period	8053P		6.837.733
Movements during the period
Acquisitions, including produced fixed assets	8023
Sales and disposals	8033
Transfers from one heading to another (+)/(-)	8043
Acquisition value at the end of the period	8053	6.837.733
Depreciations and amounts written down at the end of the period	8123P		6.594.148
Movements during the period
Recorded	8073	243.585
Written back	8083
Acquisitions from third parties	8093
Cancelled owing to sales and disposals	8103
Transferred from one heading to another (+)/(-)	8113
Depreciations and amounts written down at the end of the period	8123	6.837.733
NET BOOK VALUE AT THE END OF THE PERIOD	212
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period	8192P		1.208.265
Movements during the period
Acquisitions, including produced fixed assets	8162	267.049
Sales and disposals	8172	816
Transfers from one heading to another (+)/(-)	8182
Acquisition value at the end of the period	8192	1.474.498
Revaluation surpluses at the end of the period	8252P
Movements during the period
Recorded	8212
Acquisitions from third parties	8222
Cancelled	8232
Transferred from one heading to another (+)/(-)	8242
Revaluation surpluses at the end of the period	8252
Depreciations and amounts written down at the end of the period	8322P		439.757
Movements during the period
Recorded	8272	214.320
Written back	8282
Acquisitions from third parties	8292
Cancelled owing to sales and disposals	8302	815
Transferred from one heading to another (+)/(-)	8312
Depreciations and amounts written down at the end of the period	8322	653.262
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	821.236
FURNITURES AND VEHICLES
Acquisition value at the end of the period	8193P	xxxxxxxxxxxxxxx	904.712
Movements during the period
Acquisitions, including produced fixed assets	8163	100.477
Sales and disposals	8173
Transfers from one heading to another (+)/(-)	8183
Acquisition value at the end of the period	8193	1.005.189
Revaluation surpluses at the end of the period	8253P
Movements during the period
Recorded	8213
Acquisitions from third parties	8223
Cancelled	8233
Transferred from one heading to another (+)/(-)	8243
Revaluation surpluses at the end of the period	8253
Depreciations and amounts written down at the end of the period	8323P	xxxxxxxxxxxxxxx	631.402
Movements during the period
Recorded	8273	149.703
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303
Transferred from one heading to another (+)/(-)	8313
Depreciations and amounts written down at the end of the period	8323	781.105
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	224.084
OTGER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P		768.070
Movements during the period
Acquisitions, including produced fixed assets	8165
Sales and disposals	8175
Transfers from one heading to another (+)/(-)	8185
Acquisition value at the end of the period	8195	768.070
Revaluation surpluses at the end of the period	8255P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8215
Acquisitions from third parties	8225
Cancelled	8235
Transferred from one heading to another (+)/(-)	8245
Revaluation surpluses at the end of the period	8255
Depreciations and amounts written down at the end of the period	8325P	xxxxxxxxxxxxxxx	189.031
Movements during the period
Recorded	8275	79.705
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305
Transferred from one heading to another (+)/(-)	8315
Depreciations and amounts written down at the end of the period	8325	268.736
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	499.334

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P		634.178
Movements during the period
Acquisitions	8361
Sales and disposals	8371
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	634.178
Revaluation surpluses at the end of the period	8451P
Movements during the period
Recorded	8411
Acquisitions from third parties	8421
Cancelled	8431
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 period
Recorded	8471
Written back	8481
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
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
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	634.178
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281 P
Movements during the period
Additions	8581
Repayments	8591
Amounts written down	8601
Amounts written back	8611
Exchange differences (+)/(-)	8621
Other movements (+)/(-)	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)	xxxxxxxxxxxxxxx
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8651
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P
Movements during the period
Acquisitions	8363
Sales and disposals	8373
Transfers from one heading to another (+)/(-)	8383
Acquisition value at the end of the period	8393
Revaluation surpluses at the end of the period	8453P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transferred from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transferred from one heading to another (+)/(-)	8513
Amounts written down at the end of the period	8523
Uncalled amounts at the end of the period	8553P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8543
Uncalled amounts at the end of the period	8553
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	8.504
Movements during the period
Additions	8583
Repayments	8593
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
Other movements (+)/(-)	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	8.504
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8653

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND SHARES IN OTHER ENTERPRISES

NAME full address of the REGISTERED OFFICE and for an enterprise governed by Belgian law, the COMPANY IDENTIFICATION NUMBER	Rights held				Data extracted from the most recent annual accounts
	Nature Nature	directly		subsidiaries	Annual accounts as accounts as per	Currency code	Capita land reserves	Net result
	Nature Nature	Number	%	%	Annual accounts as accounts as per	Currency code	(+) or (-) (in units)
Shangai Arteco Coolants Science and Technology CO., LTD. Fu Zhou Road - Huaxin Hai Xin Biulding 666 box 7/F3, 200001 Shangai, China					31/12/2021	CNY	38.599.012	3.241.678
	Shares	0	100,0	0,0
Arteco Coolants India Private Limited Town Square, Vinam Nagar 304A box 3rd floor, 411014 Pune, India					31/03/2021	INR	217.191.139	56.526.828
	Equity shares	1.149.999	97,46	0,0
	Compulsory Convertible Preference shares	30.000	2,54	0,0
Arteco US LLC Foreign company Little Falls Drive 251, DE 19808 Wilmington, United States						EUR	0	0
	shares	0	100,0	0,0

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

	Codes	Period	Preceding period
Statement of capital
Capital
Issued capital at the end of the period	100P	xxxxxxxxxxxxxxx	6.286.000
Issued capital at the end of the period	(100)	6.286.000

	Codes	Value	Number of shares
Changes during the period
Structure of the capital
Different categories of shares
Shares without nominal value		6.286.000	253.568
Registered shares	8702	xxxxxxxxxxxxxxx	253.568
Shares dematerialized	8703	xxxxxxxxxxxxxxx

	Codes	Uncalled amount	Capital called but not paid
Capital not paid
Uncalled capital	(101)		xxxxxxxxxxxxxx
Called up capital, unpaid	8712	xxxxxxxxxxxxxx
Shareholders having yet to pay up in full

	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
Corresponding number of shares	8732
Commitments to issue shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans	8740
Amount of capital to be subscribed	8741
Corresponding maximum number of shares to be issued	8742
Owing to the exercise of subscription rights
Number of outstanding subscription rights	8745
Amount of capital to be subscribed	8746
Corresponding maximum number of shares to be issued	8747
Authorized capital not issued	8751
Shares issued, non representing capital
Distribution
Number of shares	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidiaries	8781

	Period
Supplementary explanation relating to the contribution (including the industry contribution)

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED INCOME

	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 year
Financial debts	8801	302.423
Subordinated loans	8811
Unsubordinated debentures	8821
Leasing and other similar obligations	8831
Credit institutions	8841	302.423
Other loans	8851
Trade debts	8861
Suppliers	8871
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)	302.423
Amounts payable with a remaining term of more than one but not more than five years
Financial debts	8802	266.394
Subordinated loans	8812
Unsubordinated debentures	8822
Leasing and other similar obligations	8832
Credit institutions	8842	266.394
Other loans	8852
Trade debts	8862
Suppliers	8872
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892
Other amounts payable	8902
Total amounts payable with a remaining term of more than one but not more than five years	8912	266.394
Amounts payable with a remaining term of more than five years
Financial debts	8803
Subordinated loans	8813
Unsubordinated debentures	8823
Leasing and other similar obligations	8833
Credit institutions	8843
Other loans	8853
Trade debts	8863
Suppliers	8873
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
Guaranteed AMOUNTS PAYABLE (included in headings 17 and 42/48 of the liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and similar obligations	8951
Credit institutions	8961
Other loans	8971
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 its own assets
Financial debts	8922
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and similar obligations	8952
Credit institutions	8962
Other loans	8972
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 enterprise on its own assets	9062
TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 and 179 of the liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073	510.730
Estimated taxes payable	450
Remuneration and social security (headings 454/9 and 179 of the liabilities)
Amounts due to the National Social Security Office	9076
Other amounts payable in respect of remuneration and social security	9077	1.922.376

	Period
ACCRUALS AND DEFERRED INCOME
Allocation of heading 492/3 of liabilities if the amount is significant

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Net turnover
Allocation by categories of activity
Allocation into geographical markets
Other operating income
Operating subsidies and compensatory amounts received from public authorities	740	541.912	722.093
OPERATING CHARGES
Employees for whom the enterprise submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	65	63
Average number of employees calculated in full-time equivalents	9087	62,0	59,3
Number of actual worked hours	9088	93.235	91.850
Personnel costs
Remuneration and direct social benefits	620	5.989.900	5.575.458
Employers' contribution for social security	621	1.548.058	1.428.168
Employers' premiums for extra statutory insurance	622	542.527	569.298
Other personnel costs (+)/(-)	623	560.611	674.896
Retirement and survivors' pensions	624
Provisions for pensions and other similar rights
Appropriations (uses and write-backs) (+)/(-)	635	-15.205	-14.037
Amounts written off
Stocks and contracts in progress
Recorded	9110	76.352	225.024
Written back	9111	65.967	168.907
Trade debts
Recorded	9112	10.786	57.113
Written back	9113	4.259	121.238
Provisions for liabilities and charges
Additions	9115
Uses and write-backs	9116	15.205	14.036
Other operating charges
Taxes related to operation	640	36.749	36.775
Other costs	641/8
Hired temporary staff and personnel placed at the enterprise's disposal
Total number at the closing date	9096	2	4
Average number calculated in full-time equivalents	9097	4,1	1,9
Number of actual worked hours	9098	7.755	3.773
Costs to the enterprise	617	373.640	185.419

FINANCIAL RESULTS

	Codes	Period	Preceding period
RECURRING FINANCIAL INCOME
Other financial income
Subsidies granted by public authorities and recorded as income for the period
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
Currency differences realized	754
Others
Exchange rate gains		333.490	158.065
Intrests		146	1.552
Payment Differences		6.389	2.667
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501
Capitalized Interests	6502
Amounts written off current assets
Recorded	6510
Written back	6511
Other financial charges
Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial charges
Currency differences realized	654
Currency translation differences	655
Others
Exhange rate losses		262.320	380.231
Bank costs		29.224	31.423
Payment differences		3.991	4.022

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

	Codes	Period	Preceding period
NON RECURRING INCOME	76	7.695	45.273
Non-recurring operating income	(76A)	7.695	45.273
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
Write-back of provisions for non-recurring operating liabilities and charges ..	7620
Capital gains on disposal of intangible and tangible fixed asset	7630
Other non-recurring operating income	764/8	7.695	45.273
Non-recurring financial income	(76B)
Write-back of amounts written down financial fixed assets	761
Write-back of provisions for non-recurring financial liabilities and charges	7621
Capital gains on disposal of financial fixed assets	7631
Other non-recurring financial income	769
NON-RECURRING EXPENSES	66	5.147	93.981
Non-recurring operating charges	(66A)	5.147	93.981
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660
Provisions for non-recurring 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	5.147	93.981
Non-recurring operating charges carried to assets as restructuring costs (-)	6690
Non-recurring financial charges	(66B)
Amounts written off financial fixed assets	661
Provisions for non-recurring financial liabilities and charges: Appropriations (uses) (+)/(-)	6621
Capital losses on disposal of financial fixed assets	6631
Other non-recurring financial charges	668
Non-recurring financial charges carried to assets as restructuring costs (-)	6691

INCOME TAXES AND OTHER TAXES

		Codes	Period
INCOME TAXES
Income taxes on the result of the period		9134	4.039.708
Income taxes paid and withholding taxes due or paid		9135	4.020.789
Excess of income tax prepayments and withholding taxes paid recorded under assets		9136
Estimated additional taxes		9137	18.919
Income taxes on the result of prior periods		9138
Additional income taxes due or paid		9139
Additional income taxes estimated or provided for		9140
In so far as taxes of the period are materially affected by differences between the prof taxes as stated in annual accounts and the estimated taxable profit	it before
disallowed expenses	(+)/(-)		193.766
Grant VLAIO	(+)/(-)		-541.912

	Period
Impact of non recurring results on the amount of the income taxes relating to the current period

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141
Accumulated tax losses deductible from future taxable profits	9142
Other deferred taxes representing assets
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

	Codes	Period	Preceding period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	24.708.631	17.381.089
By the enterprise	9146	21.940.359	14.663.441
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	1.661.182	1.602.299
For withholding taxes on investment income	9148	28	366

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 which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the enterprise	9153
REAL GUARANTEES
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of the enterprise
Mortgages
Book value of the immovable properties mortgaged	91611
Amount of registration	91621
Amount of registration by mandate	91631
Pledging of goodwill
Pledging of goodwill - Max amount	91711
Pledging of goodwill - Amount of the registration by mandate	91721
Pledging of other assets
Pledging of other assets - Book value	91811
Pledging of other assets - Max amount	91821
Guarantees provided on future assets
Guarantees provided on future assets - Amount assets involved	91911
Guarantees nrovided on future assets - Max amount	91921
Seller privilege
Seller privilege - Book value	92011
Seller privilege - Unpaid amount	92021
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security of debts and commitments of third parties
Mortgages
Book value of the immovable properties mortgaged	91612
Amount of registration	91622
Amount of registration by mandate	91632
Pledging of goodwill
Pledging of goodwill - Max amount	91712
Pledging of goodwill - Amount of the registration on goodwill pledged by mandate	91722
Pledging of other assets
Pledging of other assets - Book value	91812
Pledging of other assets - Max amount	91822
Guarantees provided on future assets
Guarantees provided on future assets - Amount assets involved	91912
Guarantees provided on future assets - Max amount	91922
Seller privilege
Seller privilege - Book value	92012
Seller privilege - Unpaid amount	92022
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 ENTERPRISE
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215
Currencies sold (to be delivered)	9216

	Period
COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

	Period
AMOUNT, NATURE AND FROM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS
Arteco has contractual volume obligations for the purchase of raw materials during 2022 from various suppliers, an estimate of this obligation based on the weighted average purchase price for the year 2021.	42.000.000

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

Brief description

The financing is sufficient to guarantee the legal return. The contributions are recognized annually in the results based on the invoices received by the insurance company.

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 AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE NOT INCLUDED IN THE BALANCE SHEET OR THE INCOME STATEMENT
See Vol 6.20	0
	0

	Period
COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR SALE OR PURCHASE

	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 the disclosure of the risks or advantages is necessary to appreciate the financial situation of the company
Total future leasing obligations buildings	2.688.746
Payable 2022	233.805
Payable 2023 - 2027	1.169.020
Payable after 2027	1.285.922

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

RELATIONSHIPS WITH AFFILIATED ENTERPRISES, ASSOCIATED ENTERPRISES AND OTHERS ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	634.178	634.178
Participating interests	(280)	634.178	634.178
Subordinated amounts receivable	9271
Other amounts receivable	9281
Amounts receivable	9291	6.271.091	3.310.562
Over one year	9301
Within one year	9311	6.271.091	3.310.562
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	819.643	152.602
Over one year	9361
Within one year	9371	819.643	152.602
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of affiliated enterprises	9381
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391
Other significant financial commitments	9401
Financial results
Income from financial fixed assets	9421
Income from current assets	9431
Other financial income	9441
Debt charges	9461
Other financial charges	9471
Disposal of fixed assets
Capital gains obtained	9481
Capital losses suffered	9491
ASSOCIATED ENTERPRISES
Financial fixed assets	9253
Participating interests	9263
Subordinated amounts receivable	9273
Other amounts receivable	9283
Amounts receivable	9293
Over one year	9303
Within one year	9313
Amounts payable	9353
Over one year	9363
Within one year	9373
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of associated enterprises	9383
Provided or irrevocably promised by associated enterprises as security for debts or commitments of the enterprise	9393
Other significant financial commitments	9403
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	9252
Participating interests	9262
Subordinated amounts receivable	9272
Other amounts receivable	9282
Amounts receivable	9292
Over one year	9302
Within one year	9312
Amounts payable	9352
Over one year	9362
Within one year	9372

	Period
TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS
Mention of these transactions if they are significant, including the amount of the transactions, the nature of the link, and all information about the transactions which should be necessary to get a better understanding of the situation of the company
Annex added to the valuation rules	0

FINANCIAL RELATIONSHIPS WITH

	Codes	Period
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
Guarantees provided in their favour	9501
Other significant commitments undertaken in their favour	9502
Amount of direct and indirect remunerations and pensions, included in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person
To directors and managers	9503
To former directors and former managers	9504

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO
Auditor's fees	9505	29.354
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061
Tax consultancy	95062
Other missions external to the audit	95063
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082
Other missions external to the audit	95083

Mentions related to article 3:64, §2 and §4 of the Companies and Associations Code

F-cap 6.18.1

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

INFORMATION TO DISCLOSE BY EACH ENTERPRISE THAT IS SUBJECT TO COMPANY LAW ON THE CONSOLIDATED ACCOUNTS OF ENTERPRISES

The enterprise neither prepares nor publishes consolidated financial statements and a relating annual report for one of the following reasons

The enterprise itself is a subsidiary of an enterprise which does prepare and publish consolidated accounts in which annual accounts of the enterprise are included

If yes, justification of the compliance with all conditions for exemption set out in art. 3:26, §2 and §3 of Company Law

Chevron Corporation (USA)

Bollinger Canyon Road 6001

TotalEnergies SE

FR59542051180

Place Jean Miller 2, 92400 Courbevoie, France

INFORMATION TO DISCLOSE BY THE REPORTING ENTERPRISE BEING A SUBSIDIARY OR A JOINT SUBSIDIARY

1. TotalEnergies Lubrifiants SA	Consolidating entity - Biggest grouping
FR66552006454
Avenue du Parc de L'lle 562, 92000 Nanterre, France
2. Chevron Belgium bv	Consolidating entity - Biggest grouping
0403.093.396
Gaston Crommenlaan 4, 9050 Ledeberg (Gent), Belgium

If the parent enterprise(s) is (are) (an) enterprise(s) governed by foreign law disclose where the consolidated accounts can be obtained ^* :

1. TotalEnergies Lubrifiants SA	TotalEnergies SE
	Place Jean Millier 2, 92400 Courbevoie, France
2. Chevron Belgium bv	Chevron Corporation
	Bollinger Canyon Road 6001, 94583 San Ramon, California, United States

FINANCIAL RELATIONSHIPS OF THE GROUP LED BY THE ENTERPRISE IN BELGIUM WITH AUDITORS OR WITH PEOPLE THEY ARE LINKED TO

	Codes	Period
Mentions related to article 3:65, §4 and §5 of the Companies and Associations Code
Auditor's fees according to a mandate at the group level led by the company publishing the information	9507	29.354
Fees for exceptional services or special missions executed in these group by the auditor
Other attestation missions	95071
Tax consultancy	95072
Other missions external to the audit	95073
Fees to people auditors are linked to according to the mandate at the group level led by the company publishing the information	9509	13.728
Fees for exceptional services or special missions executed in the group by people they are linked to
Other attestation missions	95091
Tax consultancy	95092
Other missions external to the audit	95093

Mentions related to article 3:64, §2 and §4 and of the Companies and Associations Code

VALUATION RULES

Waarderingsregels Beginsel

Bijzondere regels

1. Oprichtingskosten

Waardering tegen aanschaffingsprijs en afschrijving tegen jaarlijks maximum 20%, indien deze niet onmiddellijk ten laste genomen worden.

2. Immateriële vaste activa

Waardering tegen aanschaffingsprijs en afschrijving tegen hiernavolgende jaarlijkse percentages:

―	software 20% - met uitzondering van SAP-project dat wordt afgeschreven tegen 33,33%
―	goodwill 20% - omdat de opbrengsten van deze goodwill gedurende 5 jaar blijft bestaan
―	licenties/octrooien 20%

Het afschrijvingspercentage is aangepast aan het economisch doel van het project.

3. Materiële vaste activa

Waardering tegen aanschaffingswaarde, eventueel verhoogd met bijkomende kosten. De investeringen worden lineair afgeschreven tegen de hiernavolgende percentages:

Installaties

Occasiemateriaal	20%
Nieuw Materiaal	5%
Hardware	33,33%
Meubilair	20%

Andere materiële Vaste Activa

Inrichtingskosten	10%
Publiciteitsmateriaal	10%

4. Handelsvorderingen

Waardering tegen nominale waarde. Waardevermindering wordt toegepast ingeval van risico van niet-recuperatie.

5. Vorderingen en Schulden

Waardering tegen nominale waarde. Waardevermindering wordt toegepast ingeval van oninbaarheid of blijvend waardeverlies.

6. Voorraden

De voorraad grond- en hulpstoffen wordt gewaardeerd tegen de aanschaffingsprijs volgens FIFO-methode.

7. Fiscale en sociale voorzieningen

Deze voorzieningen worden gevormd overeenkomstig de legale en fiscale bepalingen die van toepassing zijn.

8. Opneming van de buitenlandse bijkantoren in vreemde munten

BELANGRIJKE TRANSACTIES MET VERBONDEN ONDERNEMINGEN BUITEN NORMALE MARKTVOORWAARDEN, ZOALSOMSCHREVEN IN KONINKLIJK BESLUIT VAN 10 AUGUSTUS 2009

Transacties met marktreferentie

OTHER INFORMATIONS TO DISCLOSE

Events after the balance sheet date:

Following the conflict between Russia and Ukraine, which arose in February 2022, Arteco immediately set up a Crisis Management Team to monitor the situation closely due to our activities in Russia through Arteco NV and our Arteco Russia branch.

Given the uncertain economic situation and rapid changes in legislation, Arteco has appointed a Crisis Management Team. Arteco complies with all international sanctions. The bank Arteco works with in Russia is not on the list of sanctioned banks. The measures to promote Arteco's interests are taken in consultation with our shareholders. The further evolution of the conflict, the sanctions and their consequences on the general economy bring with it an uncertainty that could potentially influence the 2022 figures, a reliable estimate of the impact on the 2022 results is, given the volatile situation, not possible. The Russian branch has sufficient resources to meet its obligations over a period of at least 12 months and has no impact on Arteco's going concern. The conflict between Russia and Ukraine does not affect the financial statements as of December 31, 2021.

Free English Translation

ANNUAL REPORT OF BOARD OF DIRECTORS FISCAL YEAR OF 01/01/2021 TILL 31/12/2021

Dear,

Hereby we have the pleasure, pursuant to legal and statutory requirements, to report to you with regard to the financial year 2021.

The accounting is kept in accordance with the principle of double entry. An updated accounting system is in place and the general ledger accounts are regularly updated in real-time.

All elements of the assets and liabilities are valued according to the rules determined by the board of directors and taking into account the legal requirements.

The annual accounts have been drawn up in accordance with the scheme presented by the law and all foreseeable risks, possible losses and devaluations have been taken into account.

Depreciation, write-downs and provisions for risks and charges, regardless of the result have been taken into account and have been systematically formed.

The assets of the company amounted to 31/12/2021 and were composed as follows:	42.743.357,87 Euro
	2021
Intangible Fixed Assets	272.515,30
Tangible Fixed Assets	1.544.653,40
Financial Fixed Assets	642.681,99
Stocks	11.133.599,08
Receivables up to 1 year	28.467.660,58
Cash and cash investments	682.247,52
Accrued charges	0,00
	42.743.357,87

The equity is valued at 31/12/2021 at and is composed as follows:	24.131.281,57 Euro
Capital	6.286.000,00
Legal reserves	628.600,00
Available reserves	17.216.681,57
Carried over results	0,00
	24.131.281,57

The debts and provisions of the company amounted to the same date and were composed as follows:	18.612.076,30 Euro
Debts and provisions more than 1 year	266.394,22
Debts and provisions up to 1 year (max)	18.345.682,08
	18.612.076,30

As far as the profit and loss accounts are concerned, we close the financial year with a profit of € 12.569.356,43 and we propose you to approve the following result processing:

Result to be appropriated	12.569.356,43
Dividends to be paid	0,00
Addition to the available reserves	-12.569.356,43
	0,00

During 2021, dividends were paid out of the available reserves for the amount of 12 million euros. This by means of 3 interim dividends, in respect to the resolution of the special general assembly held the 24th of February, the 30th of June and the 10th of November 2021.

The obtained results can be presented as follows:

Revenues	-143.797.870,44
Changes in inventory	-1.958.699,51
Other operating income	-3.732.183,22
Purchases	102.253.285,29
Changes in inventory	-1.717.629,20
Various goods and services	22.544.247,68
Salaries and social security contributions	8.641.096,31
Depreciation	1.122.655,89
Provisions	1.706,56
Other company costs	36.749,85
Non-recurring income	-7.694,43
Non-recurring costs	5.147,49
Operating result	-16.609.187,73
Financial income	-340.025,45
Financial costs	347.126,81
Result from normal operations	-16.602.086,37
Result of the fiscal year before taxes	-16.602.086,37
Taxes on the financial year	4.032.729,94
Net result of the financial year	-12.569.356,43

Information about circumstances that could significantly influence the development of the company

In March 2020, the outbreak of the corona virus was recognized as a pandemic by the World Health Organization. The Covid19 outbreak impacted several countries with government measures as a result. Arteco follows up the measures that were issued by the authorities. The Board of Directors closely monitors the situation and has sufficient financial resources to meet its future obligations.

See "Important events after balance sheet date" for extra comment impact conflict Russia and Ukraine.

Information about the activities in the field of research and development

In 2021, the technology team has refocused on development and product launches, as well as preparing for the new product needs for our various customers. The new departments that were created in 2020 are operating well resulting in a better and more efficient focus on the ongoing developments. The scientifical depth of the projects is supported by collaboration with universities and colleges. Several new analytical devices were also put into use, which will allow us to better qualify future products. Some of the R&D activities are carried out under Vlaio (Flemish Agency for Innovation and Entrepreneurship).

Branch offices

The BOD informs us that the branch in Russia has no equity.

In 2021, operating income was realized for:	-3.954.266,30
In 2021 the costs of the branch office	3.629.257,53
The net result of the branch is:	-325.008,77 Euro

The BOD informs us that the branch in Japan has no equity.

In 2021, operating income was realized for:	0,00
In 2021 the costs of the branch office	173.826,88
The net result of the branch is:	173.826,88 Euro

The BOD informs us that the branch in Czech Republic has no equity.

In 2021, operating income was realized for:	0,00
In 2021 the costs of the branch office	155.535,71
The net result of the branch is:	155.535,71 Euro

The BOD informs us that the branch in France has no equity.

In 2021, operating income was realized for:	0,00
In 2021 the costs of the branch office	952.766,63
The net result of the branch is:	952.766,63 Euro

The BOD informs us that the branch in Germany has no equity.

In 2021, operating income was realized for:	0,00
In 2021 the costs of the branch office	293.312,72
The net result of the branch is:	293.312,72 Euro

The BOD informs us that the branch in UK has no equity.

In 2021, operating income was realized for:	0,00
In 2021 the costs of the branch office	158.903,72
The net result of the branch is:	158.903,72 Euro

Own shares

The company does not own any shares.

Financial Instruments

In execution of art 3:6,8° of the New Belgian Company Code, the board of directors reports that in 2021 no financial instruments were used that are relevant to the assessment of its assets, liabilities, financial position and results.

Risks and uncertainties

The company is confronted with the risks and uncertainties, as referred to in Article 3:6, 1° of the New Belgian Company Code, which are inherent in its activities and its business.

Furthermore, in 2020 & 2021 Covid-19 profoundly disrupted the global supply chain. Authorities were forced to take drastic measures, and other restrictions on freedom of movement, to prevent further spread of the virus.

Supply & demand also became unbalanced because certain industries saw their demand drop significantly, with as result that some suppliers were forced to limit production to a minimum. Other segments saw a significant increase in demand.

The hope for an economic recovery in 2021, combined with the pandemic and its consequences, has only exacerbated the imbalance. This resulted in a divergent approach to increasing production capacity with a major impact as a result. We noticed continuous price increases for our raw materials and additives during 2021, and still ongoing.

With widespread uncertainty and rapid change due to the Russia/Ukraine war situation, Covid-19 variants and other market issues, Arteco does its utmost to deal proactively with these difficult circumstances.

Important events after the balance sheet date

Conflicts of interest directors

We request that you approve the annual accounts as of December 31, 2021 and grant the statutory auditor and us discharge for the exercise of our mandate for the past financial year.

Signed at Schoten, April 19th, 2022

The Board of Directors

J. PARIZOT

T. CHANG

D. BERGES

R. KAUL

O. BELLION

E. DEVRIESE

P. DE JONGHE

P. MCCLOUD

FREE TRANSLATION

STATUTORY AUDITOR'S REPORT TO THE GENERAL SHAREHOLDERS' MEETING OF ARTECO NV ON THE ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

Report on the annual accounts

Unqualified opinion

We have performed the statutory audit of the Company's annual accounts, which comprise the balance sheet as at 31 December 2021, and the profit and loss account for the year then ended, and the notes to the annual accounts, characterised by a balance sheet total of EUR 42.743.358 and a profit and loss account showing a profit for the year of EUR 12.569.356.

In our opinion, the annual accounts give a true and fair view of the Company's net equity and financial position as at 31 December 2021, and of its results for the year then ended, in accordance with the financial-reporting framework applicable in Belgium.

Basis for unqualified opinion

We have obtained from the board of directors and Company officials the explanations and information necessary for performing our audit.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of the board of directors for the preparation of the annual accounts

Statutory auditor's responsibilities for the audit of the annual accounts

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

•	Identify and assess the risks of material misstatement of the annual accounts, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
•	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control;
•	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the board of directors;
•	Conclude on the appropriateness of the board of directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our statutory auditor's report to the related disclosures in the annual accounts or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our statutory auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern;
•	Evaluate the overall presentation, structure and content of the annual accounts, including the disclosures, and whether the annual accounts represent the underlying transactions and events in a manner that achieves fair presentation;

Other legal and regulatory requirements

Responsibilities of the board of directors

Statutory auditor's responsibilities

Aspects related to the directors' report

Statement related to the social balance sheet

Statement related to independence

Other statements

•	Without prejudice to formal aspects of minor importance, the accounting records were maintained in accordance with the legal and regulatory requirements applicable in Belgium.
•	The appropriation of results proposed to the general meeting complies with the legal provisions and the provisions of the articles of association.
•	There are no transactions undertaken or decisions taken in breach of the Company's articles of association or the Companies' and Associations' Code that we have to report to you.

Diegem, 9 May 2022

PwC Reviseurs d'Entreprises SRL / PwC Bedrijfsrevisoren BV

The statutory auditor

Represented by

Ann Cleenewerck, Réviseur d'Entreprises / Bedrijfsrevisor

SOCIAL BALANCE SHEET

Number of joint industrial committee: 207

STATEMENT OF THE PERSONS EMPLOYED

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

	Codes	Total	1. Men	2. Women
During the current period
Average number of employees
Full-time	1001	56,8	32,8	24,0
Part-time	1002	6,5	0,3	6,2
Total in full-time equivalents	1003	62,0	33,0	29,0
Number of hours actually worked
Full-time	1011	85.063	49.182	35.881
Part-time	1012	8.172	477	7.695
Total	1013	93.235	49.659	43.576
Personnel costs
Full-time	1021	7.963.985	4.680.064	3.283.921
Part-time	1022	677.111		677.111
Total	1023	8.641.096	4.680.064	3.961.032
Advantages in addition to wages	1033
During the preceding period
Average number of employees in FTE	1003	59,3	30,9	28,4
Number of hours actually worked	1013	91.850	50.803	41.047
Personnel costs	1023	8.247.819	4.569.085	3.678.734
Advantages in addition to wages	1033

	Codes	1. Full-time	2. Part-time	3. Total full-time equivalents
At the closing date of the period
Number of employees	105	58	7	63,4
By nature of the employment contract
Contract for an indefinite period	110	55	7	60,4
Contract for a definite period	111	3		3,0
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to gender and study level
Men	120	33		33,0
primary education	1200
secondary education	1201	3		3,0
higher non-university education	1202	13		13,0
university education	1203	17		17,0
Women	121	25	7	30,4
primary education	1210
secondary education	1211	2		2,0
higher non-university education	1212	9	7	14,4
university education	1213	14		14,0
By professional category
Management staff	130
Employees	134	58	7	63,4
Workers	132
Others	133

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE ENTERPRISE'S DISPOSAL

During the period	Codes	1. Hired temporary staff	2. Persons placed at the enterprise's disposal
Average number of persons employed	150	4,1
Number of hours actually worked	151	7.755
Costs for the enterprise	152	373.640

LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

	Codes	1. Full-time		2. Part-time	3. Total full-time equivalents
ENTRIES
Number of employees for whom the entreprise submitted a DIMONA declaration or who have been recorded in the general personnel register during the financial year	205		7		7,0
By nature of employment contract
Contract for an indefinite period	210		4		4,0
Contract for a definite period	211		3		3,0
Contract for the execution of a specifically assigned work	212
Replacement contract	213
DEPARTURES
Number of employees whose contract-termination date has been entered in DIMONA declaration or in the general personnel register during the financial year	305	3	2	4,6
By nature of employment contract
Contract for an indefinite period	310	3	2	4,6
Contract for a definite period	311
Contract for the execution of a specifically assigned work	312
Replacement contract	313
By reason of termination of contract
Retirement	340		1	0,8
Unemployment with extra allowance from enterprise	341
Dismissal	342	2		2,0
Other reason	343	1	1	1,8
the number of persons who continue to render services to
the enterprise at least half-time on a self-employed basis ..	350

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

	Codes	Men	Codes	Women
Total of initiatives of formal professional training at the expense of the employer
Number of employees involved	5801	13	5811	21
Number of actual training hours	5802	188	5812	261
Net costs for the enterprise	5803	14.596	5813	19.566
of which gross costs directly linked to training	58031	13.653	58131	18.257
of which fees paid and paiments to collective funds	58032	943	58132	1.309
of which grants and other financial advantages received (to deduct)	58033		58133
Total of initiatives of less formal or informal professional training at the expense of the employer
Number of employees involved	5821	6	5831	11
Number of actual training hours	5822	59	5832	2.215
Net costs for the enterprise	5823	4.783	5833	15.097
Total of initiatives of initial professional training at the expense of the employer
Number of employees involved	5841		5851
Number of actual training hours	5842		5852
Net costs for the enterprise	5843		5853

2f:T54e4f,

ARTECO NV, Germany

Hamburg

Befreiender Jahresabschluss gem. §325 a HGB
zum Geschäftsjahr vom 01.01.2019 bis zum 31.12.2019

ARTECO NV

Schoten/Belgien

40				1	EUR
NAT.	Filing date	Nr.	P.	U.	D.	F 1

ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

IDENTIFICATION DETAILS (on date of deposit)

NAME: Arteco

Lega form: Public limited company

Address: Metropoolstraat Nr.:25 Box:

Postal code: 2900 Municipality: Schoten

Country: Belgium

Website address ¹ :

Company identification number BE 0463.801.936

DATE 12 /05/2017 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 ANNUAL ACCOUNTS IN EUROS

approved by the general meeting of			29 / 05 / 2020
Regarding the financial year from	01 / 01 / 2019	to	31 / 12 / 2019
Preceding financial year from	01 / 01 / 2018	to	31/12/2018

The amounts for the preceding period are / [are not] ² identical to the ones previously published.

Total number of pages filed: 58 Numbers of sections of the standard form not filed because they serve no useful purpose:6.1, 6.2.1, 6.2.2, 6.2.5, 6.3.1, 6.3.4, 6.3.6, 6.4.2, 6.5.2, 6.6, 6.8, 6.17, 6.18.2, 6.20, 9, 11, 12, 13, 14, 15, 16

Jean Parizot, Chairman of the Board

Alexandre Moireau, General Manager

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

THE SITUATION OF THE COMPANY

Does this annual account concern a company subject to the provisions of the new Code of Companies and Associations of March 23, 2019 ? no

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

Stewart Wright	Director
Chedburgh 9, AL 72 PU Welwyn Garden City, United Kingdom	31/05/2019 - 27/05/2022
Marissa Ramberg	Director
12A Cairnhill Rise 12-04, 229746 Singapore, Singapore	01/10/2019 - 27/05/2022
Jean Parizot	Chairman of the board of directors
Villa de la Renaissance 4, 92270 Bois Colombes, France	01/01/2020 - 27/05/2022
Eddy Devriese	Director
Disselstraat 5, 2350 Vosselaar, Belgium	31/05/2019 - 27/05/2022
Olivier Bellion	Director
Rue de Tourville, Batiment C1 26, 78100 Saint Germain en Laye, France	01/04/2020 - 27/05/2022
Dominique Berges	Director
Avenue Des Gobellins 7, 75005 Parijs, France	31/05/2019 - 27/05/2022
Xavier Delrue	Director
rue Sainte Radegonde 15, 78100 Saint Germain en Laye, Belgium	31/05/2019 - 27/05/2022
Nishi Niihara	Director
Creighton Avenue 50, N101NT London, United Kingdom	31/05/2019 - 27/05/2022
PWC Bedrijfsrevisoren BV	Auditor
Nr.: BE 0429.501.944	26/05/2017 - 29/05/2020
Woluwedal 18, 1932 Sint-Stevens-Woluwe, Belgium
Membership nr.: B00009

Represented by:

	Ann Cleenewerck
	Woluwedal 18, 1932 Sint-Stevens-Woluwe, Belgium
	Membership nr.: A01735

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.

A.	Bookkeeping of the enterprise ^** ,
B.	Preparing the annual accounts ^** ,
C.	Auditing the annual accounts and/or
D.	Correcting the annual accounts.

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.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Discl.	Codes	Period	Preceding period
ASSETS
Formation expenses	6.1	20
FIXED ASSETS		21/28	3.849.153	4.264.597
Intangible fixed assets	6.2	21	1.348.704	1.837.948
Tangible fixed assets	6.3	22/27	1.857.767	1.787.471
Land and buildings		22
Plant, machinery and equipment		23	817.384	641.324
Furniture and vehicles		24	387.310	471.332
Leasing and similar rights		25
Other tangible fixed assets		26	653.073	674.815
Assets under construction and advance payments		27
Financial fixed assets	6.4/6.5.1	28	642.682	639.178
Affiliated enterprises	6.15	280/1	634.178	634.178
Participating interests		280	634.178	634.178
Amounts receivable		281
Enterprises linked by participating interests	6.15	282/3
Participating interests		282
Amounts receivable		283
Other financial assets		284/8	8.504	5.000
Shares		284
Amounts receivable and cash guarantees		285/8	8.504	5.000
Current assets		29/58	38.243.423	39.438.580
Amounts receivable after more than one year		29	680.836
Trade debtors		290
Other amounts receivable		291	680.836
Stocks and contracts in progress		3	8.165.514	8.403.472
Stocks		30/36	8.165.514	8.403.472
Raw materials and consumables		30/31	3.955.176	3.709.355
Work in progress		32
Finished goods		33	4.130.522	4.654.575
Goods purchased for resale		34	79.816	39.542
Immovable property intended for sale		35
Advance payments		36
Contracts in progress		37
Amounts receivable within one year		40/41	19.660.637	28.168.145
Trade debtors		40	18.607.327	27.835.578
Other amounts receivable		41	1.053.310	332.567
Current investments	6.5.1/6.6	50/53
Own shares		50
Other investments		51/53
Cash at bank and in hand		54/58	9.736.436	2.866.963
Deferred charges and accrued income	6.6	490/1
TOTAL ASSETS		20/58	42.092.576	43.703.177

	Discl.	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY		10/15	29.191.446	25.702.565
Capital	6.7.1	10	6.286.000	6.286.000
Issued capital		100	6.286.000	6.286.000
Uncalled capital		101
Share premium account		11
Revaluation surpluses		12
Reserves		13	22.905.446	19.416.565
Legal reserve		130	628.600	628.600
Reserves not available		131
In respect of own shares held		1310
Other		1311
Untaxed reserves		132
Available reserves		133	22.276.846	18.787.965
Accumulated profits (losses) (+)/(-)		14
Investment grants		15
Advance to associates on the sharing out of the assets		19
PROVISIONS AND DEFERRED TAXES		16	29.242	42.876
Provisions for liabilities and charges		160/5	29.242	42.876
Pensions and similar obligations		160	29.242	42.876
Taxation		161
Major repairs and maintenance		162
Environmental obligations		163
Other liabilities and charges	6.8	164/5
Deferred taxes		168
AMOUNTS PAYABLE		17/49	12.871.888	17.957.736
Amounts payable after more than one year	6.9	17	944.543	1.342.783
Financial debts		170/4	944.543	1.342.783
Subordinated loans		170
Unsubordinated debentures		171
Leasing and other similar obligations		172
Credit institutions		173	944.543	1.342.783
Other loans		174
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year	6.9	42/48	10.663.340	16.614.953
Current portion of amounts payable after more than one year falling due within one year		42	398.240	395.546
Financial debts		43		969.401
Credit institutions		430/8		969.401
Other loans		439
Trade debts		44	7.577.289	12.427.709
Suppliers		440/4	7.577.289	12.427.709
Bills of exchange payable		441
Advances received on contracts in progress		46
Taxes, remuneration and social security	6.9	45	2.687.811	2.822.297
Taxes		450/3	1.125.355	1.247.793
Remuneration and social security		454/9	1.562.456	1.574.504
Other amounts payable		47/48
Accruals and deferred income	6.9	492/3	1.264.005
TOTAL LIABILITIES		10/49	42.092.576	43.703.177

INCOME STATEMENT

	Discl.	Codes	Period	Preceding period
Operating income		70/76A	139.169.684	170.253.221
Turnover	6.10	70	136.759.066	167.939.284
Stocks of finished goods and work and contracts in progress:
increase (decrease) (+)/(-)		71	-524.053	-168.259
Own work capitalised		72
Other operating income	6.10	74	2.929.760	2.481.171
Non-recurring operating income	6.12	76A	4.911	1.025
Operating charges		60/66A	113.578.746	148.379.367
Raw materials, consumables		60	83.617.136	117.108.567
Purchases		600/8	83.827.669	116.830.132
Stocks: decrease (increase) (+)/(-)		609	-210.533	278.435
Services and other goods		61	21.398.426	22.803.104
Remuneration, social security costs and pensions (+)/(-)	6.10	62	7.484.495	7.503.680
Depreciation of and other amounts written off formation
expenses, intangible and tangible fixed assets		630	1.020.896	797.744
Amounts written off stocks, contracts in progress and trade debtors: Appropriations (write-backs) (+)/(-)	6.10	631/4	-86	165.562
Provisions for liabilities and charges: Appropriations (uses and write-backs) (+)/(-)	6.10	635/8	-13.634	-13.359
Other operating charges	6.10	640/8	50.773	8.753
Operating charges carried to assets as restructuring costs(-)		649
Non-recurring operating charges	6.12	66A	20.740	5.316
Operating profit (loss) (+)/(-)		9901	25.590.938	21.873.854
Financial income		75/76B	549.755	501.625
Recurring financial income		75	549.755	501.625
Income from financial fixed assets		750
Income from current assets		751
Other financial income	6.11	752/9	549.755	501.625
Non-recurring financial income	6.12	76B
Financial charges		65/66B	614.909	821.835
Recurring financial charges	6.11	65	614.909	821.835
Debt charges		650	37.143	53.695
Amounts written off current assets except stocks, contracts in progress and trade debtors: appropriations (write-backs) (+)/(-)		651
Other financial charges		652/9	577.766	768.140
Non-recurring financial charges	6.12	66B
Gain (loss) for the period before taxes (+)/(-)		9903	25.525.784	21.553.644
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes (+)/(-)	6.13	67/77	7.536.903	6.490.687
Taxes		670/3	7.628.736	6.504.159
Adjustment of income taxes and write-back of tax provisions		77	91.833	13.472
Gain (loss) of the period (+)/(-)		9904	17.988.881	15.062.957
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Gain (loss) of the period available for appropriation (+)/(-)		9905	17.988.881	15.062.957

APPROPRIATION ACCOUNT

	Codes	Period	Preceding period
Profit (loss) to be appropriated (+)/(-)	9906	17.988.881	15.062.957
Gain (loss) of the period available for appropriation (+)/(-)	(9905)	17.988.881	15.062.957
Profit (loss) brought forward (+)/(-)	14P
Withdrawals from capital and reserves	791/2	14.500.000	13.500.000
from capital and share premium account	791
from reserves	792	14.500.000	13.500.000
Transfer to capital and reserves	691/2	17.988.881	15.062.957
to capital and share premium account	691
to legal reserve	6920
to other reserves	6921	17.988.881	15.062.957
Accumulated profits (losses) (+)/(-)	(14)
Owners' contribution in respect of losses	794
Profit to be distributed	694/7	14.500.000	13.500.000
Dividends	694	14.500.000	13.500.000
Directors' or managers' entitlements	695
Employees	696
Other beneficiaries	697
CONCESSIONS, PATENTS, LICENCES, KNOW-HOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	XXXXXXXXXXXXXXX	3.074.785
Movements during the period
Acquisitions, including produced fixed assets	8022	138.682
Sales and disposals	8032
Transfers from one heading to another (+)/(-)	8042
Acquisition value at the end of the period	8052	3.213.467
Depreciations and amounts written down at the end of the period	8122P	XXXXXXXXXXXXXXX	1.968.923
Movements during the period
Recorded	8072	383.675
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102
Transferred from one heading to another (+)/(-)	8112
Depreciations and amounts written down at the end of the period	8122	2.352.598
Net book value at the end of the period	211	860.869
GOODWILL
Acquisition value at the end of the period	8053P	XXXXXXXXXXXXXXX	6.837.733
Movements during the period
Acquisitions, including produced fixed assets	8023
Sales and disposals	8033
Transfers from one heading to another (+)/(-)	8043
Acquisition value at the end of the period	8053	6.837.733
Depreciations and amounts written down at the end of the period ..	8123P	XXXXXXXXXXXXXXX	6.105.647
Movements during the period
Recorded	8073	244.251
Written back	8083
Acquisitions from third parties	8093
Cancelled owing to sales and disposals	8103
Transferred from one heading to another (+)/(-)	8113
Depreciations and amounts written down at the end of the period ..	8123	6.349.898
NET BOOK VALUE AT THE END OF THE PERIOD	212	487.835
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period	8192P	XXXXXXXXXXXXXXX	751.630
Movements during the period
Acquisitions, including produced fixed assets	8162	324.346
Sales and disposals	8172
Transfers from one heading to another (+)/(-)	8182
Acquisition value at the end of the period	8192	1.075.976
Revaluation surpluses at the end of the period	8252P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8212
Acquisitions from third parties	8222
Cancelled	8232
Transferred from one heading to another (+)/(-)	8242
Revaluation surpluses at the end of the period	8252
Depreciations and amounts written down at the end of the period	8322P	XXXXXXXXXXXXXXX	110.306
Movements during the period
Recorded	8272	148.286
Written back	8282
Acquisitions from third parties	8292
Cancelled owing to sales and disposals	8302
Transferred from one heading to another (+)/(-)	8312
Depreciations and amounts written down at the end of the period	8322	258.592
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	817.384
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	XXXXXXXXXXXXXXX	761.577
Movements during the period
Acquisitions, including produced fixed assets	8163	84.668
Sales and disposals	8173
Transfers from one heading to another (+)/(-)	8183
Acquisition value at the end of the period	8193	846.245
Revaluation surpluses at the end of the period	8253P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8213
Acquisitions from third parties	8223
Cancelled	8233
Transferred from one heading to another (+)/(-)	8243
Revaluation surpluses at the end of the period	8253
Depreciations and amounts written down at the end of the period	8323P	XXXXXXXXXXXXXXX	290.245
Movements during the period
Recorded	8273	168.690
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303
Transferred from one heading to another (+)/(-)	8313
Depreciations and amounts written down at the end of the period	8323	458.935
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	387.310
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	XXXXXXXXXXXXXXX	709.062
Movements during the period
Acquisitions, including produced fixed assets	8165	54.252
Sales and disposals	8175
Transfers from one heading to another (+)/(-)	8185
Acquisition value at the end of the period	8195	763.314
Revaluation surpluses at the end of the period	8255P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8215
Acquisitions from third parties	8225
Cancelled	8235
Transferred from one heading to another (+)/(-)	8245
Revaluation surpluses at the end of the period	8255
Depreciations and amounts written down at the end of the period	8325P	XXXXXXXXXXXXXXX	34.247
Movements during the period
Recorded	8275	75.994
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305
Transferred from one heading to another (+)/(-)	8315
Depreciations and amounts written down at the end of the period	8325	110.241
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	653.073

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P	XXXXXXXXXXXXXXX	634.178
Movements during the period
Acquisitions	8361
Sales and disposals	8371
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	634.178
Revaluation surpluses at the end of the period	8451P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8411
Acquisitions from third parties	8421
Cancelled	8431
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 period
Recorded	8471
Written back	8481
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
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
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	634.178
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	XXXXXXXXXXXXXXX
Movements during the period
Additions	8581
Repayments	8591
Amounts written down	8601
Amounts written back	8611
Exchange differences (+)/(-)	8621
Other movements (+)/(-)	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8651
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	XXXXXXXXXXXXXXX
Movements during the period
Acquisitions	8363
Sales and disposals	8373
Transfers from one heading to another (+)/(-)	8383
Acquisition value at the end of the period	8393
Revaluation surpluses at the end of the period	8453P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transferred from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	XXXXXXXXXXXXXXX
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transferred from one heading to another (+)/(-)	8513
Amounts written down at the end of the period	8523
Uncalled amounts at the end of the period	8553P	XXXXXXXXXXXXXXX
Movements during the period (+)/(-)	8543
Uncalled amounts at the end of the period	8553
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	5.000
Movements during the period
Additions	8583	3.504
Repayments	8593
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
Other movements (+)/(-)	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	8.504
ACCUMULATED AMOUNTS WRITTEN OFF AMOUNTS RECEIVABLE AT END OF THE PERIOD	8653

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 280 and 282 of assets) and the other enterprises in which the enterprise holds rights (recorded in headings 284 and 51/53 of assets) for an amount of at least 10 % of the capital issued.

NAME full address of the REGISTERED	Rights held				Data extracted from the most recent annual accounts
OFFICE and for an enterprise governed by Belgian law, the	Nature Nature	directly		subsidiaries	Annual accounts as per	Currency code	Capita land reserves	Net result
COMPANY IDENTIFICATION NUMBER	Nature Nature	Number	%	%	Annual accounts as per	Currency code	(+) or (-) (in units)
Shangai Arteco Coolants Science and Technology CO., LTD.
Fu Zhou Road - Huaxin Hai Xin
Biulding 666 box 7/F3
200001 Shangai
China					31/12/2018	CNY	19.429.638	2.658.803
	Shares	0	100,0	0,0
Arteco Coolants India Private Limited
Town Square, Vinam Nagar 304A
box 3rd floor
411014 Pune
India					31/03/2019	INR	103.416.643	37.660.615
	Equity shares	1.149.999	97,46	0,0
	Compulsory Convertible Preference sh	30.000	2,54	0,0

STATEMENT OF CAPITAL AND SHAREHOLDING STRUCTURE

	Codes	Period	Preceding period
STATEMENT OF CAPITAL
Social capital
Issued capital at the end of the period	100P	XXXXXXXXXXXXXXX	6.286.000
Issued capital at the end of the period	(100)	6.286.000

	Codes	Value	Number of shares
Changes during the period
Structure of the capital
Different categories of shares
Shares without nominal value		6.286.000	253.568
Registered shares	8702	XXXXXXXXXXXXXX	253.568
Shares dematerialized	8703	XXXXXXXXXXXXXX

	Codes	Uncalled amount	Capital called but not paid
Capital not paid
Uncalled capital	(101)		XXXXXXXXXXXXXX
Called up capital, unpaid	8712	XXXXXXXXXXXXXX
Shareholders having yet to pay up in full

	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
Corresponding number of shares	8732
Commitments to issue shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans	8740
Amount of capital to be subscribed	8741
Corresponding maximum number of shares to be issued	8742
Owing to the exercise of subscription rights
Number of outstanding subscription rights	8745
Amount of capital to be subscribed	8746
Corresponding maximum number of shares to be issued	8747
Authorized capital not issued	8751
Shares issued, non representing capital
Distribution
Number of shares	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidiaries	8781

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.

	Rights held
NAME of the persons who hold the rights or the enterprise, specifying the ADDRESS (of the reoistered office, when it involves a legal person) and the COMPANY IDENTIFICATION NUMBER, when it involves an enterprise under Belgian law	Nature	Number of voting rights		%
	Nature	Linked to securities	Not linked to securities	%
Total Lubrifiants SA
FR66552006454
Avenue du Parc de I'lle 562
92000 Nanterre
France	Participatie door aandelen op naam	0	0	50,0
Chevron Belgium bv
BE 0403.093.396
Technologiepark Zwijnaarde 88
9052 Zwijnaarde
Belgium	Participatie door aandelen op naam	0	0	50,0

STATEMENT OF AMOUNTS PAYABLE, ACCRUED CHARGES AND DEFERRED INCOME

	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 year
Financial debts	8801	398.240
Subordinated loans	8811
Unsubordinated debentures	8821
Leasing and other similar obligations	8831
Credit institutions	8841	398.240
Other loans	8851
Trade debts	8861
Suppliers	8871
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)	398.240
Amounts payable with a remaining term of more than one but not more than five years
Financial debts	8802	944.543
Subordinated loans	8812
Unsubordinated debentures	8822
Leasing and other similar obligations	8832
Credit institutions	8842	944.543
Other loans	8852
Trade debts	8862
Suppliers	8872
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892
Other amounts payable	8902
Total amounts payable with a remaining term of more than one but not more than five years ....	8912	944.543
Amounts payable with a remaining term of more than five years
Financial debts	8803
Subordinated loans	8813
Unsubordinated debentures	8823
Leasing and other similar obligations	8833
Credit institutions	8843
Other loans	8853
Trade debts	8863
Suppliers	8873
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
GUARANTEED AMOUNTS PAYABLE (included in headings 17 and 42/48 of the liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and similar obligations	8951
Credit institutions	8961
Other loans	8971
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 its own assets
Financial debts	8922
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and similar obligations	8952
Credit institutions	8962
Other loans	8972
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 enterprise on its own assets	9062
TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 of the liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073
Estimated taxes payable	450	1.125.355
Remuneration and social security (heading 454/9 of the liabilities)
Amounts due to the National Social Security Office	9076
Other amounts payable in respect of remuneration and social security	9077	1.562.456

	Period
ACCRUALS AND DEFERRED INCOME
Allocation of heading 492/3 of liabilities if the amount is significant
Public funding VLAIO - HBC.2019.2534	1.264.005

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Net turnover
Allocation by categories of activity
Allocation into geographical markets
Other operating income
Operating subsidies and compensatory amounts received from public authorities	740	190.831
OPERATING CHARGES
Employees for whom the enterprise submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	60	56
Average number of employees calculated in full-time equivalents	9087	54,8	55,1
Number of actual worked hours	9088	81.619	86.111
Personnel costs
Remuneration and direct social benefits	620	5.103.823	4.933.762
Employers' contribution for social security	621	1.296.179	1.270.062
Employers' premiums for extra statutory insurance	622	544.163	481.718
Other personnel costs (+)/(-)	623	540.330	818.138
Retirement and survivors' pensions	624
Provisions for pensions and other similar rights
Appropriations (uses and write-backs) (+)/(-)	635	-13.634	-13.359
Amounts written off
Stocks and contracts in progress
Recorded	9110	32.850	91.815
Written back	9111	108.412
Trade debts
Recorded	9112	83.586	190.447
Written back	9113	8.110	116.700
Provisions for liabilities and charges
Additions	9115
Uses and write-backs	9116	13.634	13.359
Other operating charges
Taxes related to operation	640	50.773	8.753
Other costs	641/8
Hired temporary staff and personnel placed at the enterprise's disposal
Total number at the closing date	9096	3	1
Averaae number calculated in full-time eauivalents	9097	2,4	0,2
Number of actual worked hours	9098	4.588	398
Costs to the enterprise	617	212.143	26.553

FINANCIAL RESULTS

	Codes	Period	Preceding period
RECURRING FINANCIAL INCOME
Other financial income
Subsidies granted by public authorities and recorded as income for the period
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
Exchange rates differences		540.803	455.438
Intrests		5.567	4.485
Other financial profits		3.385	41.702
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501
Capitalized Interests	6503
Amounts written off current assets
Recorded	6510
Written back	6511
Other financial charges
Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial charges
Exchange rate differences (+)/(-)		556.104	727.178
Banking costs (+)/(-)		18.754	34.863
Payment differences (+)/(-)		2.888	6.099

INCOME AND CHARGE OF EXCEPTIONAL SIZE OR INCIDENCE

	Codes	Period	Preceding period
NON RECURRING INCOME	76	4.911	1.025
Non-recurring operating income	(76A)	4.911	1.025
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
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	4.911	1.025
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 EXPENSES	66	20.740	5.316
Non-recurring operating charges	(66A)	20.740	5.316
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660
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	20.740	5.316
Non-recurring operating charges carried to assets as restructuring costs .(-)	6690
Non-recurring financial charges	(66B)
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
Non-recurring financial charges carried to assets as restructuring costs ...(-)	6691

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	7.628.736
Income taxes paid and withholding taxes due or paid	9135	6.518.378
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136
Estimated additional taxes	9137	1.110.358
Income taxes on the result of prior periods	9138
Additional income taxes due or paid	9139
Additional income taxes estimated or provided for	9140
In so far as taxes of the period are materially affected by differences between the profit before taxes as stated in annual accounts and the estimated taxable profit
Disallowed expenses (+)/(-)		161.748

	Period
Impact of non recurring results on the amount of the income taxes relating to the current period

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141
Accumulated tax losses deductible from future taxable profits	9142
Other deferred taxes representing assets
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

	Codes	Period	Preceding period
VALUE ADDED TAXES AND OTHER TAXES BORNE BY THIRD PARTIES
Value added taxes charged
To the enterprise (deductible)	9145	22.147.867	29.434.025
By the enterprise	9146	20.216.147	26.467.611
Amounts withheld on behalf of third party
For payroll withholding taxes	9147	1.493.932	1.468.888
For withholding taxes on investment income	9148	1.166

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 which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the enterprise	9153
REAL GUARANTEES
Real guarantees provided or irrevocably promised by the enterprise on its own assets as security 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
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 as security 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
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 ENTERPRISE
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215
Currencies sold (to be delivered)	9216

	Period
COMMITMENTS RELATING TO TECHNICAL GUARANTEES IN RESPECT OF SALES OR SERVICES

	Period
AMOUNT, NATURE AND FORM CONCERNING LITIGATION AND OTHER IMPORTANT COMMITMENTS
Arteco has contractual obligations for the purchase of 45,2 kt Mono Ethyleen Glycol during 2020, with several suppliers. This calculated at moving average price 31/12/2019 of 425,92 €/Ton.	19.251.584

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

Brief description

Pensioenopbouw:

Patronale bijdragen:

4% van het jaarloon beperkt tot het pensioensplafond

10% op het verschil tussen jaarloon en pensioensplafond

Persoonlijke bijdrage:

0% tot aan het pensioensplafond

4% op het verschiltussen het jaarloon en het pensioensplafond

Overlijdensdekking:

2 X referentiebezoldiging

0,5 referentiebezoldiging per kind ten taste

Invaliditeitsrente:

(Vanaf 4de maand ongeschiktheid)

10% van referte loon tot RIZIV plafond

70% van referte loon bloven het RIZIV plafond

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 AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE NOT INCLUDED IN THE BALANCE SHEET OR THE INCOME STATEMENT
In March 2020, the outbreak of the corona virus was recognized as a pandemic by the World Health Organization. The Covid outbreak 19 impacted several countries with government measures as a result. Arteco follows up the measures that were issued by the authorities. All Arteco employees in Europe, India & Japan work from home; the presence of lab staff is kept to a minimum with additional safety measures being taken. In China, after 10 weeks of working from home, we started working at the office again on the 13th of April, taking into account the social distancing measure. A decline in sales volume was already recorded in March 2020 and this decline is expected to continue. The decrease in sales will have a negative impact on the net result. However, given the uncertainty concerning the end of the pandemic, the expected impact on the results cannot yet be estimated. The Board of Directors closely monitors the situation and has sufficient financial resources to meet its future obligations. The Covid-19 outbreak has no impact on the financial statements of the year ended December 31, 2019.	0
COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR SALE OR PURCHASE
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 the disclosure of the risks or advantages is necessary to appreciate the financial situation of the company
OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET (including those which can not be quantified)

RELATIONSHIPS WITH AFFILIATED ENTERPRISES, ASSOCIATED ENTERPRISES AND OTHERS ENTERPRISES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	634.178	634.178
Participating interests	(280)	634.178	634.178
Subordinated amounts receivable	9271
Other amounts receivable	9281
Amounts receivable	9291	3.978.465	6.132.037
Over one year	9301
Within one year	9311	3.978.465	6.132.037
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	44.911	197.980
Over one year	9361
Within one year	9371	44.911	197.980
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of affiliated enterprises	9381
Provided or irrevocably promised by affiliated enterprises as security for debts or commitments of the enterprise	9391
Other significant financial commitments	9401
Financial results
Income from financial fixed assets	9421
Income from current assets	9431
Other financial income	9441
Debt charges	9461
Other financial charges	9471
Disposal of fixed assets
Capital gains obtained	9481
Capital losses suffered	9491
ASSOCIATED ENTERPRISES
Financial fixed assets	9253
Participating interests	9263
Subordinated amounts receivable	9273
Other amounts receivable	9283
Amounts receivable	9293
Over one year	9303
Within one year	9313
Amounts payable	9353
Over one year	9363
Within one year	9373
Personal and real guarantees
Provided or irrevocably promised by the enterprise as security for debts or commitments of associated enterprises	9383
Provided or irrevocably promised by associated enterprises as security for debts or commitments of the enterprise	9393
Other significant financial commitments	9403
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	9252
Participating interests	9262
Subordinated amounts receivable	9272
Other amounts receivable	9282
Amounts receivable	9292
Over one year	9302
Within one year	9312
Amounts payable	9352
Over one year	9362
Within one year	9372

	Period
TRANSACTIONS WITH ENTERPRISES LINKED BY PARTICIPATING INTERESTS OUT OF MARKET CONDITIONS
Mention of these transactions if they are significant, including the amount of the transactions, the nature of the link, and all information about the transactions which should be necessary to get a better understanding of the situation of the company
Added to the valuation rules	0

FINANCIAL RELATIONSHIPS WITH

DIRECTORS, MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS

	Codes	Period
Amounts receivable from these persons	9500
Conditions on amounts receivable, rate, duration, possibly reimbursed amounts, canceled amounts or renounced amounts
Guarantees provided in their favour	9501
Other significant commitments undertaken in their favour	9502
Amount of direct and indirect remunerations and pensions, included in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person
To directors and managers	9503
To former directors and former managers	9504

AUDITORS OR PEOPLE THEY ARE LINKED TO

	Codes	Period
Auditor's fees	9505	27.800
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061
Tax consultancy	95062
Other missions external to the audit	95063	21.749
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082
Other missions external to the audit	95083

Mentions related to article 134 from the Companies Code

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

INFORMATION TO DISCLOSE BY EACH ENTERPRISE THAT IS SUBJECT TO COMPANY LAW ON THE CONSOLIDATED ACCOUNTS OF ENTERPRISES

The company neither prepares nor publishes consolidated financial statements and a relating annual report for one of the following reasons

The company itself is a subsidiary of an enterprise which does prepare and publish consolidated accounts in which annual accounts of the enterprise are included

	Total SA
	FR59542051180
	Place Jean Miller 2, 92400 Courbevoie, France

INFORMATION TO DISCLOSE BY THE REPORTING ENTERPRISE BEING A SUBSIDIARY OR A JOINT SUBSIDIARY

Name, full address of the registered office and, if the company is subject to Belgian law, the company identification number of the parent company (ies) and the specifications whether the parent company (ies) prepare (s) and publish (es) consolidated accounts which includes the annual accounts of the company ^* :

1. Total Lubrifiants SA	Consolidating entity - Biggest grouping
FR66552006454
Avenue du Parc de L'lle 562, 92000 Nanterre, France
2. Chevron Belgium bv	Consolidating entity - Biggest grouping
BE 0403.093.396
Technologiepark Zwijnaarde 88, 9052 Zwijnaarde, Belgium

If the parent company(ies) is (are) (an) enterprise(s) governed by foreign law disclose where the consolidated accounts can be obtained ^* :

1. Total Lubrifiants SA	Total SA Place Jean Millier 2, 92400 Courbevoie, France
2. Chevron Belgium bv	Chevron Corporation Bollinger Canyon Road 6001, 94583 San Ramon, California, United States

VALUATION RULES

Waarderingsregels Beginsel

De waarderingsregels werden vastgesteld overeenkomstig de bepalingen van het Koninklijk besluit van 30 januari 2001 tot uitvoering van het Wetboek van Vennootschappen. Bij de opstelling van de waarderingsregels werd eveneens rekening gehouden met de aard van de activiteit.

Bijzondere regels

1. Oprichtingskosten

Waardering tegen aanschaffingsprijs en afschrijving tegen jaarlijks maximum 20%, indien deze niet onmiddellijk ten laste genomen worden.

2. Immateriële vaste activa

Waardering tegen aanschaffingsprijs en afschrijving tegen hiernavolgende jaarlijkse percentages:

―	software 20% - met uitzondering van SAP-project dat wordt afgeschreven tegen 33,33%
―	goodwill 20% - omdat de opbrengsten van deze goodwill gedurende 5 jaar blijft bestaan
―	licenties/octrooien 20%

Het afschrijvingspercentage is aangepast aan het economisch doel van het project.

3. Materiële vaste activa

Waardering tegen aanschaffingswaarde, eventueel verhoogd met bijkomende kosten. De investeringen worden lineair afgeschreven tegen de hiernavolgende percentages :

Installaties
Occasiemateriaal	20%
Nieuw Materiaal	5%
Hardware	33,33%
Meubilair	20%
Andere materiële Vaste Activa
Inrichtingskosten	10%
Publiciteitsmateriaal	10%

4. Handelsvorderingen

Waardering tegen nominale waarde. Waardevermindering wordt toegepast ingeval van risico van niet-recuperatie.

5. Vorderingen en Schulden

Waardering tegen nominale waarde. Waardevermindering wordt toegepast ingeval van oninbaarheid of blijvend waardeverlies.

6. Voorraden

De voorraad grond- en hulpstoffen wordt gewaardeerd tegen de aanschaffingsprijs volgens FIFO-methode.

De voorraad gereed product wordt gewaardeerd tegen vervaardigingsprijs volgens de methode van gewogen gemiddelde prijzen. De vervaardigingsprijs omvat de kostprijs van de verbruikte gronden hulpstoffen en de fabrikatiekost. Goederen die gedurende een bepaalde periode niet meer bewogen zijn, worden als dode stock beschouwd. Hiervoor wordt een waardevermindering van de stock toegepast.

7. Fiscale en sociale voorzieningen

Deze voorzieningen worden gevormd overeenkomstig de legale en fiscale bepalingen die van toepassing zijn.

BELANGRIJKE TRANSACTIES MET VERBONDEN ONDERNEMINGEN BUITEN NORMALE MARKTVOORWAARDEN, ZOALSOMSCHREVEN IN KONINKLIJK BESLUIT VAN 10 AUGUSTUS 2009

"Bij gebrek aan wettelijke criteria die toelaten om de transacties met verbonden partijen buiten normale marktvoorwaarden te inventariseren, werd geen enkele transactie opgenomen in de staat XVIIIbis. Het geheel van de transacties met verbonden partijen wordt ter informatie em met het oog op transparantie bekendgemaakt in volgende vrije toelichting :

als related party transactions worden beschouwd alle handelingen met de leden van de Raad van Bestuur, de leden van het Directiecomité, Arteco's aandeelhouders Total (50%) en Chevron (50%) en alle ondernemingen die verbonden zijn met, maar niet volledig toebehoren aan de groep TOTAL of de groep CHEVRON. Er zijn geen transacties met de leden van het Directiecomité en de Raad van Bestuur.

Transacties met marktreferentie

De transacties die ARTECO is aangegaan met bovenstaande ondernemingen, betreffen leveringen van antivriesproducten aan de normale marktvoorwaarden en binnen een normale commerciële verhouding.

Transacties zonder marktreferentie

Naast de leveringen, ontvangt ARTECO van de TOTAL groep diensten zoals productie en administratieve diensten betreffende deze productie. Deze diensten worden op basis van een door beide aandeelhouders getekende service overeenkomst gefactureerd."

ANNUAL REPORT OF BOARD OF DIRECTORS FISCAL YEAR OF 01/01/2019 TILL 31/12/2019

Dear,

Hereby we have the pleasure, pursuant to legal and statutory requirements, to report to you with regard to the financial year 2019.

The accounting is kept in accordance with the principle of double entry. An updated accounting system is in place and the general ledger accounts are regularly updated in real-time.

All elements of the assets and liabilities are valued according to the rules determined by the board of directors and taking into account the legal requirements.

The annual accounts have been drawn up in accordance with the scheme presented by the law and all foreseeable risks, possible losses and devaluations have been taken into account.

Depreciation, write-downs and provisions for risks and charges, regardless of the result have been taken into account and have been systematically formed.

The assets of the company amounted to 31/12/2019 and were composed as follows:

42.092.575,99 Euro

	2019
Intangible Fixed Assets	1.348.703,76
Tangible Fixed Assets	1.857.767,71
Financial Fixed Assets	642.681,99
Stocks	8.165.514,50
Receivables up to 1 year	19.660.637,08
Cash and cash investments	9.736.434,95
Accrued charges	0,00
	42.092.575,99

The equity is valued at 31/12/2019 at and is composed as follows:

29.191.445,83 Euro

Capital	6.286.000,00
Legal reserves	628.600,00
Available reserves	22.276.845,83
Carried over results	0,00
	29.191.445,83

The debts and provisions of the company amounted to the same date and were composed as follows:

12.901.130,16 Euro

Debts and provisions more than 1 year	973.785,12
Debts and provisions up to 1 year (max)	11.927.345,04
	12.901.130,16

As far as the profit and loss accounts are concerned, we close the financial year with a profit of € 17.988.880,92 and we propose you to approve the following result processing:

Result to be appropriated	17.988.880,92
Dividends to be paid	0,00
Addition to the available reserves	-17.988.880,92
	0,00

During 2019, dividends were paid out of the available reserves for the amount of 14,5 million euros. This by means of 2 interim dividends, in respect to the resolution of the special general assembly held the 3rd of June 2019 and the 12th of November 2019.

The obtained results can be presented as follows:

Revenues	-136.759.066,32
Changes in inventory	524.053,88
Other operating income	-2.929.760,08
Purchases	83.827.670,52
Changes in inventory	-210.534,17
Various goods and services	21.398.425,93
Salaries and social security contributions	7.484.496,10
Depreciation	1.020.892,85
Provisions	-13.720,45
Other company costs	50.773,65
Non-recurring income	-4.910,44
Non-recurring costs	20.740,11
Operating result	-25.590.938,42
Financial income	-549.755,01
Financial costs	614.909,36
Result from normal operations	-25.525.784,07
Result of the fiscal year before taxes	-25.525.784,07
Taxes on the financial year	7.536.903,15
Net result of the financial year	-17.988.880,92

Information about circumstances that could significantly influence the development of the company

During the past financial year, no circumstances arose that could significantly influence the development of the company.

Information about the activities in the field of research and development

2019 the technology team has again refocussed on development and product introductions next to the preparation for future readiness. Relocation and physical move of the lab towards the new facility has been mostly completed. Furthermore a selection was made towards a new laboratory management systems (LIMS). This system covers the formulation as well as the testing and the chemical stock management of our SDW laboratory and will also take over part of our communication flow between the lab and the different technology groups. Implementation is foreseen in 2020.

On R&D the established contacts with University of Brussel, respectively Greece, has resulted in joint research projects. More over the cooperation together with internal R&D activities has obtained sponsorship from Vlaio (Vlaams agentschap voor innoveren en ondernemen) for the next 3 years. In the project also a postdoc at the University of Brussels is foreseen to look to the layer formation of our inhibitors in contact with metals.

Glycol free formulation is still under an evaluation phase at Toyota. Prototype Si-OAT formulation has been proposed to BMW. Freecor FTC is under evaluation at Volvo and DAF.

Branch offices

The BOD informs us that the branch in Russia has no equity.

In 2019, operating income was realized for:	-2.329.275,78
In 2019 the costs of the branch office	2.171.244,27
The net result of the branch is:	-158.031,51 Euro

The BOD informs us that the branch in Japan has no equity.

In 2019, operating income was realized for:	0,00
In 2019 the costs of the branch office	204.937,44
The net result of the branch is:	204.937,44 Euro

The BOD informs us that the branch in Czech Republic has no equity.

In 2019, operating income was realized for:	0,00
In 2019 the costs of the branch office	165.188,42
The net result of the branch is:	165.188,42 Euro

The BOD informs us that the branch in France has no equity.

In 2019, operating income was realized for:	0,00
In 2019 the costs of the branch office	563.826,13
The net result of the branch is:	563.826,13 Euro

The BOD informs us that the branch in Germany has no equity.

In 2019, operating income was realized for:	0,00
In 2019 the costs of the branch office	176.782,66
The net result of the branch is:	176.782,66 Euro

The BOD informs us that the branch in UK has no equity.

In 2019, operating income was realized for:	0,00
In 2019 the costs of the branch office	164.892,92
The net result of the branch is:	164.892,92 Euro

Own shares

The company does not own any shares.

Financial Instruments

In execution of art 3:6,8° of the New Belgian Company Code, the board of directors reports that in 2019 no financial instruments were used that are relevant to the assessment of its assets, liabilities, financial position and results.

Risks and uncertainties

The company is only confronted with the risks and uncertainties, as referred to in Article 3:6, 1° of the New Belgian Company Code, which are inherent in its activities and its business.

The 2020 Corona virus is one extra uncertainty to report, however it is yet unclear what the impact will be on the Arteco nv results.

Important events after the balance sheet date

In March 2020, the outbreak of the corona virus was recognized as a pandemic by the World Health Organization. The Covid outbreak19 impacted several countries with government measures as a result. Arteco follows up the measures that were issued by the authorities. All Arteco employees in Europe, India & Japan work from home; the presence of lab staff is kept to a minimum with additional safety measures being taken. In China, after 10 weeks of working from home, we started working at the office again on the 13th of April, taking into account the social distancing measure. A decline in sales volume was already recorded in March 2020 and this decline is expected to continue. The decrease in sales will have a negative impact on the net result. However, given the uncertainty concerning the end of the pandemic, the expected impact on the results cannot yet be estimated. The Board of Directors closely monitors the situation and has sufficient financial resources to meet its future obligations. The Covid-19 outbreak has no impact on the financial statements of the year ended December 31, 2019.

Conflicts of interest directors

We request that you approve the annual accounts as of December 31, 2019 and grant the statutory auditor and us discharge for the exercise of our mandate for the past financial year.

Signed at Schoten, April 22, 2020

The Board of Directors

J. PARIZOT

D. BERGES

N. NIJHARA

O. BELLION

M. RAMBERG

X. DELRUE

E. DEVRIESE

S. WRIGHT

FREE TRANSLATION

ARTECO NV/SA

Statutory auditor's report to the general shareholders' meeting on the annual accounts for the year ended 31 December 2019

11 May 2020

FREE TRANSLATION

STATUTORY AUDITOR'S REPORT TO THE GENERAL SHAREHOLDERS' MEETING OF ARTECO NV/SA ON THE ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2019

We present to you our statutory auditor's report in the context of our statutory audit of the annual accounts of Arteco NV/SA (the "Company"). This report includes our report on the annual accounts, as well as the other legal and regulatory requirements. This forms part of an integrated whole and is indivisible.

We have been appointed as statutory auditor by the general meeting d.d. 26 May 2017, following the proposal formulated by the board of directors and following the proposal formulated by the works' council. Our mandate will expire on the date of the general meeting which will deliberate on the annual accounts for the year ended 31 December 2019. We have performed the statutory audit of the Company's annual accounts for 15 consecutive years.

Report on the annual accounts

Unqualified opinion

We have performed the statutory audit of the Company's annual accounts, which comprise the balance sheet as at 31 December 2019, and the profit and loss account for the year then ended, and the notes to the annual accounts, characterised by a balance sheet total of EUR 42.092.576 and a profit and loss account showing a profit for the year of EUR 17.988.881.

In our opinion, the annual accounts give a true and fair view of the Company's net equity and financial position as at 31 December 2019, and of its results for the year then ended, in accordance with the financial-reporting framework applicable in Belgium.

Basis for unqualified opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs) as applicable in Belgium. Furthermore, we have applied the International Standards on Auditing as approved by the IAASB which are applicable to the year-end and which are not yet approved at the national level. Our responsibilities under those standards are further described in the "Auditor's responsibilities for the audit of the annual accounts" section of our report. We have fulfilled our ethical responsibilities in accordance with the ethical requirements that are relevant to our audit of the annual accounts in Belgium, including the requirements related to independence.

We have obtained from the board of directors and Company officials the explanations and information necessary for performing our audit.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter - subsequent event

As far as the outbreak of COVID 19 is concerned, we draw your attention to the directors' report and Note 6.14 ("Subsequent events") of the annual accounts in which the board of directors expresses their view that, although the consequences thereof may have a significant impact on the Company's operations in 2020, such consequences do not have a material impact on the Company's financial position for the year ended 31 December 2019. Our opinion is not qualified in respect of this matter.

Responsibilities of the board of directors for the preparation of the annual accounts

Statutory auditor's responsibilities for the audit of the annual accounts

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

•	Identify and assess the risks of material misstatement of the annual accounts, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;
•	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control;
•	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the board of directors;
•	Conclude on the appropriateness of the board of directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our statutory auditor's report to the related disclosures in the annual accounts or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our statutory auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern;
•	Evaluate the overall presentation, structure and content of the annual accounts, including the disclosures, and whether the annual accounts represent the underlying transactions and events in a manner that achieves fair presentation.

Other legal and regulatory requirements

Responsibilities of the board of directors

The board of directors is responsible for the preparation and the content of the director's report, of the documents required to be deposited by virtue of the legal and regulatory requirements as well as for the compliance with the legal and regulatory requirements regarding bookkeeping, with the Companies' and Associations' Code (as from 1 January 2020), the Companies' Code (until 31 December 2019) and the Company's articles of association.

Statutory auditor's responsibilities

In the context of our mandate and in accordance with the Belgian standard which is complementary to the International Standards on Auditing (ISAs) as applicable in Belgium, our responsibility is to verify, in all material respects, the directors' report, certain documents required to be deposited by virtue of legal and regulatory requirements, as well as compliance with the articles of association and of certain requirements of the Companies' and Associations' Code (as from 1 January 2020) and of the Companies' Code (until 31 December 2019), and to report on these matters.

Aspects related to the directors' report

Statement related to the social balance sheet

The social balance sheet, to be deposited in accordance with article 3:12, §1, 8° of the Companies' and Associations' Code, includes, both in terms of form and content, the information required by virtue of this Code and does not present any material inconsistencies with the information we have at our disposition in our engagement.

Statement related to independence

The fees for additional services which are compatible with the statutory audit of the annual accounts referred to in article 3:65 of the Companies' and Associations' Code are correctly disclosed and itemized in the notes to the annual accounts.

Other statements

•	Without prejudice to formal aspects of minor importance, the accounting records were maintained in accordance with the legal and regulatory requirements applicable in Belgium.
•	The appropriation of results proposed to the general meeting complies with the legal provisions and the provisions of the articles of association.
•	There are no transactions undertaken or decisions taken in breach of the Company's articles of association or the Companies' and Associations' Code (as from 1 January 2020) and the Companies' Code (until 31 December 2019) that we have to report to you.

Sint-Stevens-Woluwe, 11 May 2020

The statutory auditor
PwC Reviseurs d'Entreprises SRL / PwC Bedrijfsrevisoren BV

Represented by

Ann Cleenewerck, Réviseur d'Entreprises, Bedrijfsrevisor

SOCIAL BALANCE SHEET

Number of joint industrial committee: 207

STATEMENT OF THE PERSONS EMPLOYED

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

	Codes	Total	1. Men	2. Women
During the current period
Average number of employees
Full-time	1001	49,2	28,3	20,9
Part-time	1002	7,1		7,1
Total in full-time equivalents	1003	54,8	28,3	26,5
Number of hours actually worked
Full-time	1011	73.996	45.507	28.489
Part-time	1012	7.623		7.623
Total	1013	81.619	45.507	36.112
Personnel costs
Full-time	1021	6.768.170	4.062.784	2.705.386
Part-time	1022	716.325		716.325
Total	1023	7.484.495	4.062.784	3.421.711
Advantages in addition to wages	1033

	Codes	P. Total	1P. Men	2P. Women
During the preceding period
Average number of employees in FTE	1003	55,1	26,4

ARTECO NV, Germany

Hamburg

Befreiender Jahresabschluss zum Geschäftsjahr vom 01.01.2023 bis zum 31.12.2023

ARTECO NV

Schoten/Belgien

ANNUAL ACCOUNTS AND/OR OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

ANNUAL ACCOUNTS

OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANIES AND ASSOCIATIONS CODE NEER TE LEGGEN DOCUMENTEN

ANNUAL REPORT OF BOARD OF DIRECTORS FISCAL YEAR OF 01/01/2023 TILL 31/12/2023

ARTECO NV, Germany

Hamburg

Befreiender Jahresabschluss zum Geschäftsjahr vom 01.01.2022 bis zum 31.12.2022

ARTECO NV

Schoten/Belgien

ANNUAL ACCOUNTS AND/OR OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

ANNUAL ACCOUNTS

OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANIES AND ASSOCIATIONS CODE NEER TE LEGGEN DOCUMENTEN

Free English Translation

ANNUAL REPORT OF BOARD OF DIRECTORS FISCAL YEAR OF 01/01/2022 TILL 31/12/2022

STATUTORY AUDITOR'S REPORT TO THE GENERAL SHAREHOLDERS' MEETING OF ARTECO NV ON THE ANNUAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

ARTECO NV, Germany

Hamburg

Befreiender Jahresabschluss gem. §325 a HGB zum Geschäftsjahr vom 01.01.2021 bis zum 31.12.2021

ARTECO NV

Schoten/Belgien

ANNUAL ACCOUNTS AND/OR OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

ANNUAL ACCOUNTS

F-cap 6.18.1

OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANIES AND ASSOCIATIONS CODE

Free English Translation

ANNUAL REPORT OF BOARD OF DIRECTORS FISCAL YEAR OF 01/01/2021 TILL 31/12/2021

ARTECO NV, Germany

Hamburg

Befreiender Jahresabschluss gem. §325 a HGB zum Geschäftsjahr vom 01.01.2019 bis zum 31.12.2019

ARTECO NV

Schoten/Belgien

ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

ANNUAL ACCOUNTS

OTHER DOCUMENTS TO BE FILED UNDER BELGIAN COMPANY LAW

ANNUAL REPORT OF BOARD OF DIRECTORS FISCAL YEAR OF 01/01/2019 TILL 31/12/2019

Befreiender Jahresabschluss gem. §325 a HGB
zum Geschäftsjahr vom 01.01.2021 bis zum 31.12.2021

Befreiender Jahresabschluss gem. §325 a HGB
zum Geschäftsjahr vom 01.01.2019 bis zum 31.12.2019