15. Research and Development incentives receivables

15. Research and development incentives receivables

The table below illustrates the R&D incentives receivables related captions in the balance sheet as at 31 December 2016 and 2015.

 

31 December

(thousands of €)

2016

2015

Non-current R&D incentives receivables

54,188

49,384

Current R&D incentives receivables

10,154

9,161

Total R&D incentives receivables

64,342

58,545

Total R&D incentives receivables increased by €5.8 million compared to 31 December 2015. This increase is explained by new R&D incentives reported in 2016 for €15.3 million (€9.5 million related to French R&D incentives and €5.8 million related to Belgian R&D incentives) less the payments received related to French R&D incentives amounting to €8.7 million and to Belgian R&D incentives amounting to €0.8 million. The R&D incentives receivables relate to future refunds resulting from R&D incentives on research expenses in France and Belgium. Non-current R&D incentives receivables are discounted over the period until maturity date.

The table below provides detailed information on the maturity of the non-current R&D incentives receivables reported in the balance sheet at 31 December 2016.

Non-current R&D incentives receivables

 

 

 

 

 

 

 

 

31 December 2016

 

 

Maturity date

 

(thousands of €)

2018

2019

2020

2021

2022–2026

Total

French non-current R&D incentives receivables – nominal value

8,214

8,621

9,168

 

 

26,003

French non-current R&D incentives receivables – discounted value

8,214

8,621

9,168

 

 

26,003

 

 

 

 

 

 

 

Belgian non-current R&D incentives receivables – nominal value

2,074

2,966

3,831

4,188

15,235

28,294

Belgian non-current R&D incentives receivables – discounted value

2,074

2,966

3,831

4,188

15,126

28,185

 

 

 

 

 

 

 

Total non-current R&D incentives receivables – nominal value

10,288

11,587

12,999

4,188

15,235

54,297

Total non-current R&D incentives receivables – discounted value

10,288

11,587

12,999

4,188

15,126

54,188