Samuel HAYOT
Chartered Accountant
Pre-sale dividend, cash left in the price, or a holding-company contribution: the fate of excess cash is decided before the letter of intent, and the gap runs into tens of thousands of euros. A French chartered accountant's method.
Climate financial risks for SMEs: telling physical and transition risks apart, the TCFD framework now carried by IFRS S2 and ESRS E1.
Factoring and the Dailly assignment both turn trade receivables into immediate cash, but with two opposite logics: full outsourcing versus one-off bank assignment. Our comparison to choose by real need, cost and customer relationship.
Storing through Amazon FBA in several EU countries triggers local VAT registrations the OSS does not cover. Distance sales, stock transfers, IOSS, costs and timing: the full 2026 picture.
At seed stage, the SAFE-style warrant (BSA AIR) and the convertible bond both defer the valuation. One is not debt, the other is. A comparison of criteria, tax and dilution to choose the right instrument for your first round.
The executive manager is excluded from working-time rules; the day-rate manager stays within a protective framework. Confusing the two statuses exposes you to a costly reclassification. The comparison and the criteria to document.
The cap table records who holds what: shares, employee and investor warrants, SAFE-style warrants, convertibles and the option pool. Keeping it up to date and reasoning fully diluted is vital before any raise or sale.
The CAF measures the cash your activity generates by itself. Calculation from EBE or net profit, the difference with self-financing and cash, the ratio banks watch, and the real levers to improve it.
Variable capital lets partners enter and leave without amending the articles or filing at the registry. Variability clause, floor capital, withdrawal right: a comparison with fixed capital and decision criteria for 2026.
The corporate card removes the employee's expense advance and makes the receipt reliable. A comparison with the classic expense report, and the VAT rules that apply whatever the means of payment.
Tools automatically categorise bank transactions, but this automation has its limits. What it does well, where it goes wrong, and how to set up a targeted control that secures your entries without losing the time saving.
A personal guarantee commits the director's estate beyond the company. Proportionality, mandatory wording, duty to warn, alternatives: how to limit the commitment before signing.
Public grants received for research are deducted from the R&D tax credit base, whether acquired or repayable. Forgetting this exposes you to a reassessment: method, worked example and 2026 watch points.
Approval, pre-emption, reciprocity, inalienability: how to frame an SCI partner's entry and exit, in the articles or a shareholders' agreement, and where each clause belongs. The 2026 picture.
A digital tool only creates value if it is adopted. The change management method to turn purchased software into real usage: clarify, involve, train, measure.
Leasing and a loan finance the same investment, but with very different effects on cash, the balance sheet and debt ratios. A costed comparison and a decision method.
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