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.
- Necessary to know your shareholder and share structure
| Thresholds | FTE | Turnover | Balance sheet |
|---|---|---|---|
|
Small |
< 50 | <= 10.000.000 | <= 10.000.000 |
|
Medium |
< 250 | <= 50.000.000 | <= 43.000.000 |
|
Large |
>= 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 :
- no ONSS summons or judgement in progress.
- equity greater than half of the subscribed capital/contribution unavailable (+ share premiums).
- or if you have been an SME for less than 3 years (at the time of signing the agreement).
As a large enterprise :
- no ONSS summons or judgement in progress
- rdebt/equity ratio <= 7.5 or EBITDA/financial expenses ratio >=1.
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.).
- Cash Flow
- Cash position
- Solvency
- Liquidity
- Profitability/Performance
- Changes/Trends
Documents to download
Accounting and tax guide (interactive version et PDF version)
Contact
The Financial Analysis department can only be contacted via email