Financial analysis

In accordance with the Decree of 3 July 2008, companies requesting assistance from SPW Recherche with the funding of their research and development projects are subjected to a financial analysis.

The opinion of the Financial Analysis department must be favourable in order to proceed with the approval of your research and development project.

This financial analysis focuses on the following points:

1. Size of the company

The size of your company will determine the rate of the subsidy granted.

We verify the size of your company in accordance with the European recommendation, which involves considering partner companies and associated companies.

Thresholds FTE Turnover Balance sheet


< 50 <= 10.000.000 <= 10.000.000


< 250 <= 50.000.000 <= 43.000.000


>= 250 > 50.000.000 > 43.000.000


Want more details? Contact us or request the ‘User guide for the definition of SMEs’.


2. Eligibility

We verify your eligibility based on the accounts for the last fiscal year.

As an SME :

As a large enterprise :

3. Administrative situation of past R&D applications

We verify the status of your current applications with our departments and invite you to get things in order, if necessary (bi-yearly expense reports, activity reports, receipts for recoverable advances, compliance with any payment plans, etc.).

4. Prior budget checks

We ensure that your budget complies with the guide to eligible expenses.

5. Financial capacity

We verify your capacity to fund the portion of your research project that is not subsidised based on published data (and/or a financial plan) and the most recent information available (provisional/partial data, etc.).


Documents to download             

Guide to eligible expenses

Accounting and tax guide (interactive version et PDF version)




The Financial Analysis department can only be contacted via email