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 2015 and 2014.
|
Year ended 31 December |
|
(thousands of €) |
2015 |
2014 |
Non-current R&D incentives receivables |
49,384 |
43,944 |
Current R&D incentives receivables |
9,161 |
7,351 |
Total R&D incentives receivables |
58,545 |
51,296 |
Total R&D incentives receivables increased by €7.2 million compared to 31 December 2014. This increase is explained by new R&D incentives reported in 2015 for €14.0 million (€8.7 million related to French R&D incentives and €5.3 million related to Belgian R&D incentives) less the payment received related to French R&D incentives amounting to €6.7 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 2015.
Non-current R&D incentives receivables |
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|
|
|
|
|
|
|
|
Year ended 31 December 2015 |
|
||||
|
Maturity date |
|
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(thousands of €) |
2017 |
2018 |
2019 |
2020 |
2021–2025 |
Total |
French non-current R&D incentives receivables – nominal value |
8,185 |
8,214 |
8,621 |
|
|
25,020 |
French non-current R&D incentives receivables – discounted value |
8,185 |
8,214 |
8,621 |
|
|
25,020 |
|
|
|
|
|
|
|
Belgian non-current R&D incentives receivables – nominal value |
1,392 |
2,176 |
3,068 |
3,933 |
13,796 |
24,364 |
Belgian non-current R&D incentives receivables – discounted value |
1,392 |
2,176 |
3,068 |
3,930 |
13,697 |
24,262 |
|
|
|
|
|
|
|
Total non-current R&D incentives receivables – nominal value |
9,577 |
10,390 |
11,689 |
3,933 |
13,796 |
49,384 |
Total non-current R&D incentives receivables – discounted value |
9,577 |
10,390 |
11,689 |
3,930 |
13,697 |
49,282 |