Division 4.2.1.1 For legal personsF1

This more in-depth financial analysis will consist of an extended analysis of the financial viability of the legal entity.

The 5 following ratios will be used:

According to the results obtained for each of the abovementioned ratios, the following quotes are given:

Exceptions:

The following rules are applied for the special cases where the ratio contains a zero denominator or numerator:

• Financial autonomy:

  • If GOP ≤ 0, the result shall be -1 with weak qualifications.

  • The Interest paid cannot be negative.

• Profitability (2):

  • If NOP = 0, the result shall be 0 with weak qualifications.

  • If the Turnover = 0, the Operating income shall be used for the calculation.

  • If the Operating Income = 0 or negative, the result shall be 0 with weak qualifications.

  • Turnover cannot be negative.

Any legal entity subject to a verification of its financial capacity who obtains under a more in depth financial analysis a minimum of 4 points as a result of its financial viability check will be considered to have a ‘positive’ financial capacity, unless it is subject to one (or several) of the situations mentioned in section 4.1.