SOLVAY SCHOOLS ALUMNI ASBL

ORDINARY GENERAL MEETING

MAY 19, 2016 – FLAGEY

AGENDA

Welcome

Thierry GEERTS: « It’s early morning of the web »

Those who passed away

Approval of the minutes of the Ordinary General Assembly of 12 March 2015

2015 Annual Report

2015 Annual Financial Report

2016 Budget

Discharge of the Board Members

Election of new Board Members

Honorary members

Thank you to Christian JOURQUIN and the colleagues leaving the Board this year

Drink

THOSE WHO PASSED AWAY

THOSE WHO PASSED AWAY

ANDRY Jacques ICS 1951

BALIEUS Marianne ICS 1974

BAUM Edouard ICS 1952

BELLENS Didier ICS 1978

COURTOIS Jean-Pierre ICS 1950

DECARPENTRIE François ICS 1986

DEFAY Jean-Michel ICS 1971

DEFAY Jacques ICS 1946

DEMAIN Jacques ICS 1957

EYADA AYISSI Théophile MBA 1993

GOOSSENS Jacques ICS 1955

HOLLAND Jean ICS 1958

JOURQUIN Jean-Claude ICS+ECO 1960

LAGRANGE Jean ICS 1976

MUGUERZA Laurent ICS 1990

PECHER Thierry HIS-V 1992

RODAER Michel CPC 1982

SALAVRACOS Alexandre ICS 1987

SERRUYS Olivier CPC 1987

VANDELANNOITE Guy CPC 1984

VANESSE Charles CPC 1992

WINTERBERG Louis ICS 1956

APPROVAL OF THE

MINUTES OF THE

ORDINARY GENERAL

ASSEMBLY OF

12 MARCH 2015

ANNUAL REPORT

2015

ANNUAL REPORT

DATA BASE STATISTICS

Alumni from the Solvay

Schools ULB and VUB

23.182

Postal Adresses

Mail Adresses

14.558

14.018

1.705

Paid-up Members

in 2015

Men

Women

70 %

30 %

10 %

abroad in more than 85

countries

75 %

13 %

12 %

FR

NL

EN

=2014 + 9%

ANNUAL REPORT

ACTIVITIES CALENDAR AND COMMUNICATION

January: Club Governance “Où sont les femmes – Réflexions sur la participation des femmes au plus hautniveau de l’entreprise”.

February: Individual coaching sessions; Career Services; New Year Reception at La Monnaie /De Munt.

March: Workshop “Prévention Burn-out”; Individual coaching sessions; Career Services; General Assembly;Club Governance “Comitology or How to adapt your European Lobbying?”.

April: SSA Women Network: launch event with elevator’s speech & speed dating; Africa Business Club“Business in Africa: opportunities & perspectives”; Marketing & Sales Club “Grow your business by beingMeaningful to your customer”; Club Cepac visit of Mediafin ; SSA Switzerland: Alumni Vlerick-Solvay SwissGolf Challenge; SSA Switzerland: visit to FIFA ; Career Services.

May: Club Governance “Transatlantic Trade and Investment Partnership (TTIP) Take it or leave it?”; 20km ofBrussels; Regards de Solvay with Jacques Dopchie, Michel Van den Broeck, Isabelle Langlois-Loris, GillesSamyn; Finance Club of Brussels “Gloval Governance & Financial Regulation”; Career Services.

June: Coaching Session; Women Network Event “No I don’t have a cultural bias, not me!” Interactivesession animated by Stéphanie van Rossum – Media Leader France, Belgium & Netherlands at Procter &Gamble; Marketing & Sales Club: “The New Efficient Frontier in Pricing “; SSA Switzerland : After WorkCocktail; SSA Germany: Dinner; Workshop session about saturation cognitive ICT; Club VUC: BBQ.

July /

August: Club VUB: networking event at Zolder; SSA Switzerland: Visit to Morgarten Battle Field.

September: Sailing Cup, Graduation Ceremony ULB.

October: Coaching Session; Women Network Event: “Role Model, Myth or Reality” with Fabienne BryskèreManaging Director at Multipharma and Dominique Leroy CEO Proximus; Mentorship Forum; WorkshopPart2 (saturation cognitive ICT); Club Cepac: Visit of EVS world leader in live video systems.

November: Africa Business Club: “Understanding the Financial Environment in Africa”; Career Services;SSA Switzerland: Annual Joint Business Schools Ball.

December: Women Network Event: interactive session “How to remarkable women lead” ; GraduationCeremony VUB; Career Services .

ANNUAL REPORT

Improving our Communication

Website and database continuous improvement

Improvement of our accounting system

Communication tools

• Website

• Monthly e-newsletter

• 4 pages inserted in From Solvay magazine

• Targeted emailing campaigns for segmented communication

• Social Networks

Alumni Directory

Ambassadors Network

ANNUAL REPORT

OUR STRATEGIC PILLARS

• Develop a unique, effective and diversified networking place.Effective

Networking

• Offer an integrated set of coaching and mentorship activities, as well as internships and job offers, to help students and alumni define, reposition and boost their careers.

Career Services

• Help both alumni and the schools to remain up to date in university study areas and in the topics alumni need to meet their professional challenges.

Continuous Education

• Support the schools to be ranked in the Top 10 European business schools.Schools Support

• Contribute to the “Voice of Solvay” in Belgium. Impact on Business

& Society

ANNUAL REPORT

GEOGRAPHIC INTEGRATION:

AMBASSADORS NETWORK

A mixed and pragmatic approach

In a few countries counting an important population of Solvay alumni (France, Luxembourg, The Netherlands, Germany, the UK and USA)

Decentralized approach: we encourage the creation of formal associations (non-profit)

Control will be maintained thanks to a still centralized database accessLicenses will be given for the use of our name

In other countries, counting a smaller alumni population Centralized approach: a SSA ambassador signs a contract with our

association, and than receives a mandate to represent SSA abroad

Control will be maintained thanks to the signed agreement, which will also settle the limitations of the ambassador’s mission

The administrator in charge of our pillar “Effective Networking” is in charge of the surveillance and reports to the Board

ANNUAL REPORT

AMBASSADORS NETWORK

Germ

an

y

• Dinner

Sw

itzerl

an

d • Alumni Vlerick-Solvay Swiss Golf Challenge

• After Work Cocktail

• Visit to FIFA

• Annual joint business schools ball

• Visit to Morgarten Battle Fields

ANNUAL REPORT

PARTNERSHIPS AND SPONSORS

Global Sponsor

Platinum Sponsor

Activity Sponsors

• McKinsey, Umicore, AXA IM, AXA, ALLOcloud, Haynault , Mary, Chaudfontaine, TractebelEngineering, AGEAS, SopraBanking, Pernod Ricard, Mediafin, our Directory sponsors;

• Midis de Trends / TrendsLunchgesprekken.

ANNUAL REPORT

Improving our Organization

Membership calls and reminders

Research for Sponsoring

Clear structure: strategy document

and Corporate governance

Endowment to share resources

between Solvay Schools and Solvay

Schools Alumni

Marketing & Communication are

improving; new strategy in

preparation

3 new axis of development for 2016

ANNUAL REPORT

OUR PLAN FOR 2016: 3 STRATEGIC AXIS OF GROWTH

We will give our alumni opportunitiesto grow

We will grow our membership

We will help our schools grow

ANNUAL REPORT

PERSONAL & PROFESSIONAL DEVELOPMENT

What is our added-value? What makes us special?

A friendly network, a « safe-space » among graduates from the same

schools

Professionals in many domain, sectors of activity…

Many of them are happy to share their insights with their fellow alumni

Success of our current career services offer: our job sessions are full

every year

In an environment in constant evolution, today’s management tools will

not necessarily work tomorrow. We are also more sollicitated then ever.

Together, we can create something unique!

ANNUAL REPORT

PERSONAL & PROFESSIONAL DEVELOPMENT

A new program, unique and exclusive for our members

4 clusters identified, from the young professional to the confirmedmanager

Goal: help you improve, from being a strong individual performer to becoming a great, inspirational leader

For each cluster, a program made of 1 short event and 1 long event(Friday to Saturday)

Animated by high-level professionals

First short-event scheduled on April 18, and first long-event in September

Join in and spread the word!

ANNUAL REPORT

MEMBERSHIP GROWTH AXIS

We want our association to be more representative of our alumni and grow our membership (currently 1629 members or 7% of the alumni)

We have started to take actions in that direction

A team of students from the school has been hired in February-March 2016 to systematically call alumni and convince them to become members

They also collected feedback from the alumni, which will be new material for improvement of our services and activities

Approximately 120 alumni paid/renewed their membership thanks to our phone calls

Financially, the operation offers a small financial profit

We are drawing lessons from this exercise and will adapt future operations

Improve our database quality

Focus on specific target-groups (by school, by cohort)

Test different methods to approach new members (mail, email, calls, ambassador programs, automatic renewal)

Your ideas are welcome

ANNUAL REPORT

MEMBERSHIP BY CONSTITUENCIES

Constituencies Tot. Alumni 2011 2012 2013 2014 2015 2016

Ingénieur de gestion 5.436 711 494 672 701 814 766

Science economiques 3.816 100 63 93 108 133 120

Handelsingenieur 1.895 124 67 85 107 115 111

Toegep. Eco. Wetens. 198 - - - 1 0 0

Master Management &

Bedrijfs. VUB670 - - - 10 16 13

CEPAC/EMM 2.116 270 165 230 236 234 208

MCC en gestion 1.616 120 90 103 113 113 90

MBA 1.765 83 47 57 67 64 93

Others (ExEd and Advanced

Masters)5.670 169 104 175 221 217 228

Total 23.182 1.577 1.030 1.415 1.564 1.705 1.629

ANNUAL REPORT

SCHOOLS DEVELOPMENT AXIS

As alumni we have a responsibility to support the Schools, at a

moment where the field of business and economics education

undergoes profound mutations.

We have the aspiration to give the best of what we have to

become an important partner and supporter of the future

evolution of the Schools.

We are in active conversations with them to jointly identify

where and how we can have the greatest impact.

ANNUAL REPORT

CURRENT ACTIVITIES TO SUPPORT OUR SCHOOLS

Support to the Schools

From Solvay magazine - Seminars in Management Science

Chair in Management - Journées Portes Ouvertes/Terug na d’unief -“Chair in Management Experience” (43k €/year ): First academic year in 2009 - Solvay Schools Alumni Prize (HIS-V) Champagne kit + 250 € –Mock Interviews – Mentorship Forum

Solvay Executive Education communication – Seminars in Management Science – ABIS membership – Chair in Mobiliteit en Fiscaliteit

Seminars in Management Science – Mentorship Forum – From Solvay & SSA Newsletter

FINANCIAL REPORT

2015

FINANCIAL REPORT 2015

RESULTS

2015 2014 2013

OPERATING INCOME 338.256 923.305 367.464

REVENU 337.194 922.610 364.123

OTHER INCOME 1.062 695 3.341

OPERATING COSTS 451.883 731.577 449.347

SERVICES & OTHER GOODS 213.641 497.292 264.628

PAYROLL COSTS 150.509 166.727 109.381

DEPR. & AMORT. 7.323 11.159 13.539

OTHER OPERATING COSTS 80.410 56.400 61.800

OPERATING RESULT -113.628 191.727 -81.883

FINANCIAL RESULT -536 858 2.897

EXCEPTIONAL RESULT 0 0 0

RESULT OF THE YEAR -114.163 192.585 -78.986

ADDITION TO THE ENDOWMENT 0 -125.000 0

USE OF THE ENDOWMENT 92.000 55.000 115.000

RETAINED EARNINGS -22.163 122.585 36.014

FINANCIAL REPORT 2015

BALANCE SHEET

2015 2014

ASSETS 905.313 1.005.531

FIXED ASSETS 0 9.120

Tangible Fixed Assets 0 9.120

CURRENT ASSETS 905.313 996.411

Trade Receivables 157.058 52.734

Other Receivables 0 6.920

Cash & Equivalents 747.355 936.757

Deferred Costs 900 0

LIABILITIES 905.313 1.005.531

EQUITY 777.889 892.052

Capital 100.000 100.000

Endowment for Schools 118.833 85.833

Addition to the Endowment 125.000

Other Reserves & Acc Profit 559.055 581.219

DEBT 127.424 113.480

Trade Payables 47.069 35.617

Taxes Payables 17.433 0

Payroll Related Debts 23.496 35.798

Deferred Income 39.426 42.065

Other Debts 0 0

FINANCIAL REPORT 2015

RESULTS BY ACTIVITY AND PER NATURE

ADMINISTRATION -12.193 CAUSERIE AU COIN DU FEU -558

cost -254.615 cost -578

revenue 242.422 revenue 21

ANNUAIRE 13.032 MARKETING CLUB 123

cost -25.268 cost 0

revenue 38.300 revenue 123

CAREER SERVICES -1.550 NEWYEAR RECEPTION -13.031

cost -1.810 cost -18.791

revenue 260 revenue 5.760

CLUB AFRIQUE -970 SAILING CUP -310

cost -2.640 cost -31.158

revenue 1.670 revenue 30.847

CLUB CEPAC 74 Support to the schools -1.250

cost 0 cost -93.250

revenue 74 revenue 92.000

CLUB GOVERNANCE 3.420 SMALL EVENTS & CONGRES -3.956

cost -15.666 cost -4.892

revenue 19.086 revenue 936

CLUB SSA WOMEN 904 MENTORSHIP FORUM -1.254

cost 0 cost -1.254

revenue 904 revenue 0

Club VUB -3.021 20km de Bxl -1.624

cost -4.097 cost -2.946

revenue 1.076 revenue 1.322

Cost -22.163

FINANCIAL REPORT 2015

IN A NUTSHELL

Membership objective has been reached: 1.700 members

A new global sponsor: LeasePlan

A new edition of the Directory

No Congress in 2015

Investments:

13k for the New Year Reception

2,5k for creation of the Africa Business Club

10k for the database improvement

Loss of 22k

BUDGET

2016

BU

DG

ET

2016

2016 2015 2014

budget Budget actuals actuals

842.450 338.256 923.305

Income 841.450 337.194 922.610General sponsoring 87.500 75.000 62.500

Membership fees 180.000 143.286 146.663

Activities 573.950 118.908 713.446

Other Income 1.000 1.062 695

604.608 352.560 665.418

Material cost 500 446 499

Services & other goods 433.800 201.605 498.192

Payroll related costs 170.308 150.509 166.727

237.842 -14.304 257.887

Depreciations & provisions 5.000 7.323 11.159

Depreciation 4.000 10.131 10.041

Provisions 1.000 -2.809 1.118

232.842 -21.627 246.728

-1.000 -536 858

231.842 -22.163 247.585

Addition to Endowment 125.000 0 125.000

106.842 -22.163 122.585

118.833 210.833 140.833

140.000 92.000 55.000

20.000 20.000 20.000

58.000 43.000 30.000

15.000 15.000 5.000

From Solvay 40.000 0 0

7.000 14.000 0

125.000 0 125.000

103.833 118.833 210.833

Operational Income

Profit & Loss Accounts

Endowment Expenses

Profit

Financial Result

EBIT

EBITDA

Total Endowment

Endowment Reserves

VUB+ULB

Operational Costs

Endowment Income

ABIS

VUB

ULB

Proposal for profit allocation

Result Affected to Other res. & Acc. Profit

BUDGET 2016

IN A NUTSHELL

Membership raise of >5%

A new Platinum sponsor to be found

Congress’ profits identical to previous edition: 250k

All activities (fun and conferences) must be break-even

Investments:

10k for our new PPD programme

10k for our Membership Operations

9k for the New Year Reception

Result comparable to 2015

ANNUAL FINANCIAL REPORT

2015-2016

2015 Annual Financial Report

Validation & Acceptation

2016 Budget approval

Unchanged Membership fee for 2017

*For countries where a chapter is in place

≤ 26 year 27 & 28 year 29 to 64 year household ≥ 65 year or

abroad

Company

EUR 25 EUR 50 EUR 100 100% of 1st fee

and - 50% for 2nd

EUR 50 or EUR

100*

EUR 150

DISCHARGE OF THE

BOARD MEMBERS

DISCHARGE OF THE BOARD

MEMBERS

FOR THEIR MANDATE UNTIL MARCH 24, 2016

Pierre Gurdjian

Christian Jourquin

Hugues Dethienne

Marc Grynberg

Jean-Paul Bissen

Michael Bertrand

Isabelle Loris

Michel Van den Broeck

Abdelkrim Boujraf

Olivier Borgerhoff

Sébastien Erkens

Marc Chamut

Dimitri Creus

Lennert Vierendeels

François Lebrun

Nicolas Gothelf

Marianne Fraeys

Paul Hermant

Gregorio Matias

Christophe Segaert

Philippe Vercruysse

Pierre Dupont

Chris Kodeck

Brice Libert

Vincent Grimaldi de Puget

Alexandre Thys

Pierre Cormier

Alexis Nsamzinshuti

Alexandre Gueulette

Gauthier Roelants

ELECTION OF NEW

BOARD MEMBERS

ELECTION OF NEW BOARD

MEMBERS

PROCEDURE

Part of the Board Members nominated on 12/03/2015 were in their second year, the others were elected for 2 years

In principle max. 30 members.

Two steps appointment procedure:

• Appointment of chairman, vice-chairman & managing director (language and residence requirements) (Article 13.2.1 of the by-laws).

Mandate still running for Vice-Chairman and Managing Director.

Chairman and Secretary-General to be elected.

• Appointment of the other candidates as board members by GA (Article 13.2.2 of the by-laws)

Each Board member is responsible for at least one specific project

Duration: 3 years for the chairman and the vice-chairman; 2 years for the others.

ELECTION OF NEW BOARD

MEMBERS

ARTICLE 13.2.1 OF THE BY-LAWS

Appointment of chairman, vice-chairman & managing director

(language and residence requirements)

Currently holding these positions

• Chairman: Pierre Gurdjian (HIS) (Until 2017)

• Vice-Chairman: Christian Jourquin (ICS) (Until 2016)

• Managing Director: Hugues Dethienne (MCC) (Until 2016)

• Secretary-General: Sébastien Erkens (ECO) (Until 2017)

ELECTION OF NEW BOARD

MEMBERS

ARTICLE 13.2.2 OF THE BY-LAWS

Current board members

Running Mandates:

• Pierre Gurdjian (HIS)

• Marianne Fraeys (ECO)

• Sébastien Erkens (ECO)

• Pierre Cormier (ECO)

• Pierre Dupont (EMM)

• Dimitri Creus (HIS)

• Chris Kodeck (MCC)

• Brice Libert (IGS)

• Gregorio Matias (ECO)

• Vincent Grimaldi de Puget (PMA)

• Gauthier Roelants de Stappers (IGS)

• Nicolas Gothelf (ECO)

• Alexandre Gueulette (IGS)

• François Lebrun (EMMA)

• Alexis Nsamzinshuti (MCC)

• Lennert Vierendeels (HIS)

ELECTION OF NEW BOARD

MEMBERS

ARTICLE 13.2.2 OF THE BY-LAWS

Appointment of the other candidates as board members

Candidates:

• Isabelle Langlois-Loris (IGS) – Vice President (until 2019)

• Olivier Hamoir (ICS) – Managing Director

• Jean-Albert Nyssens (ICS)

• Hugues Dethienne (MCC)

• Jean-Paul Bissen (EMM)

• Marc Chamut (IGS)

• Paul Hermant (MCC)

• Christophe Segaert (IGS)

• Valérie Mpasinas (IGS)

• Abdelkrim Boujraf (MBA)

• Michael Bertrand (IGS)

• Alexandre Thys (HIS)

• Walter Gelens (HIS)

WE SAY THANK YOU

TO THE COLLEAGUES WHO ARE LEAVING THE BOARD

THIS YEAR

Mandates achieved

• Christian Jourquin (ICS)

• Marc Grynberg (ICS)

• Philippe Vercruysse (ICS)

• Olivier Borgerhoff (MBA)

HONORARY

MEMBERS

HONORARY MEMBERS

CURRENT

ALLE Michel

BECKER Fabienne

BERNHEIM Emile

BILTIAU Philippe

de BARSY (Baron) Eugène

DE MAESENEIRE Patrick

DE SMEDT Pierre-Alain

DOPCHIE Jacques

FARBER André

GARDEDIEU Alexandre

GILLET Jean-Pierre

Art. 3 : « …La qualité de membre d’honneur peut être conférée, par décision du conseil

d’administration, à des personnalités belges ou étrangères, qu’elle jugera dignes de cette

distinction par leur situation dans le monde ou par suite de services rendus à l’association

ou à une des institutions visées à l’article 1 des statuts. Sauf accord de l’assemblée

générale, un membre d’honneur ne peut être un Alumnus. »

GOLDSCHMIDT Léo

HATRY Paul

HENRION Robert

JANSSEN (Baron) Daniel

JOURQUIN Christian

KIRSCHEN E-Sadi

LEMAITRE Nadine

LEVY MORELLE Henri

LOB Gérard

NARMON François

PEEREBOOM Oger

PRAET Peter

SAMYN Gilles

SCOHIER Pierre-J

SIMONART Jeanne

SOLVAY Jacques

VAN DAELE Auguste

VANDER EYCKEN Henri

VAN OMMESLAGHE Bernard

WEEKERS Daniel

THANK YOU ALL!