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Basis of opinion
We conducted our work in accordance with the International Standard on Assurance Engagement 3400
“
The
Examination of Prospective Financial Information” (“
ISAE 3400
”) issued by the
International Auditing and Assurance
Standards Board
(“IAASB”)
. Our work included evaluating the basis on which the historical financial information
included in the Projected Financial Information has been prepared and considering whether the Projected Financial
Information has been accurately computed based upon the disclosed assumptions and the accounting policies of the
Group. Whilst the assumptions upon which the Projected Financial Information are based are solely the responsibility
of the Directors, we considered whether anything came to our attention to indicate that any of the assumptions adopted
by the Directors which, in our opinion, are necessary for a proper understanding of the Projected Financial Information
have not been disclosed or if any material assumption made by the Directors appears to us to be unrealistic.
We planned and performed our work so as to obtain the information and explanations we considered necessary in order
to provide us with reasonable assurance that the Projected Financial Information has been properly compiled on the
basis stated.
Since the Projected Financial Information and the assumptions on which it is based relate to the future and may
therefore be affected by unforeseen events, we can express no opinion as to whether the actual results reported will
correspond to those shown in the Projected Financial Information and differences may be material.
Our work has not been carried out in accordance with auditing or other standards and practices generally accepted in
jurisdictions outside Belgium, including the United States of America, and accordingly should not be relied upon as if it
had been carried out in accordance with those standards and practices.
Opinion
In our opinion, the Projected Financial Information has been properly compiled on the basis stated and the basis of
accounting used is consistent with the accounting policies of the Group.
Declaration
For the purposes of art. 61 of the Law of 16 June 2006, we are responsible for this report as part of the Registration
Document and declare that we have taken all reasonable care to ensure that the information contained in this report is,
to the best of our knowledge, in accordance with the facts and contains no omission likely to affect its import. This
declaration is included in the registration document in compliance with Annex XV of the Prospectus Directive
Regulation making reference to Annex I item 13.2.
Yours faithfully
________________________________________________
DELOITTE Bedrijfsrevisoren /
Reviseurs d’Entreprises
BV o.v.v.e. CVBA / SC s.f.d. SCRL
Represented by Frank Verhaegen
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