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 2017 and 2016.

 

31 December

(thousands of €)

2017

2016

Non-current R&D incentives receivables

64,001

54,188

Current R&D incentives receivables

11,782

10,154

Total R&D incentives receivables

75,783

64,342

Total R&D incentives receivables increased by €11.4 million compared to 31 December 2016. This increase is explained by new R&D incentives reported in 2017 for €21.5 million (€10.3 million related to French R&D incentives and €11.2 million related to Belgian R&D incentives) less the payments received related to French R&D incentives amounting to €7.9 million and to Belgian R&D incentives amounting to €2.0 million. The R&D incentives receivables are future expected refunds resulting from R&D incentives on research and development expenses in France and Belgium. Non-current R&D incentives receivables are reported at their net present value and are therefore 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 our balance sheet at 31 December 2017.

Non-current R&D incentives receivables

 

 

 

 

 

 

 

 

31 December 2017

 

 

Maturity date

 

(thousands of €)

2019

2020

2021

2022

2023–2027

Total

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

8,622

9,340

10,025

27,986

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

8,622

9,340

10,025

27,986

 

 

 

 

 

 

 

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

2,520

3,398

4,009

4,863

21,562

36,353

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

2,520

3,398

4,009

4,863

21,224

36,015

 

 

 

 

 

 

 

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

11,141

12,738

14,034

4,863

21,562

64,339

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

11,141

12,738

14,034

4,863

21,224

64,001