Bilan Fonctionnel: Content and Structure

Concept and General Rules of the Bilan Fonctionnel

• The functional balance sheet (bilan fonctionnel) is an accounting statement redesigned to analyze where funds come from and how they are used in the business cycle.
• Rule of Gross Values: A fundamental principle stated is that all elements, including current assets (actifs circulants), must be taken into account for their gross value (valeur brute).
• Inclusion of Conversion Gaps: The document explicitly instructs to integrate conversion gaps (écarts de conversion) into the functional analysis.
• Classification Focus: Items are categorized based on their function: Investment/Financing (Stable), Exploitation (Operating), or Hors Exploitation (Non-Operating).

Detailed Structure of Assets (Emplois/Actif)

Emplois Stables (Stable Uses)

• Actif Immobilisé Brut: This includes the total historical cost of long-term assets before depreciation or amortization.     - Immobilisations incorporelles: Intangible assets.     - Immobilisations corporelles: Tangible assets.     - Immobilisations financières (sauf IC): Financial assets, specifically excluding accrued interests (intérêts courus).
• Charges à répartir sur plusieurs exercices: Costs to be amortized over several fiscal years.
• Primes de remboursement des obligations: Bond redemption premiums.

Actif Circulant d'Exploitation (ACE - Operating Current Assets)

• Stocks: Raw materials, work in progress, and finished goods.
• Avances et acomptes versés: Advances and down payments made to suppliers on orders.
• Créances clients: Accounts receivable.     - Specific Requirement: Rajouter les EENE (Add discounted bills not yet due/Effets escomptés non échus).
• Créances fiscales (sauf IS): Tax receivables, excluding corporate income tax.
• Charges constatées d'avance: Prepaid expenses related to operating activities.

Actif Circulant Hors Exploitation (ACHE - Non-Operating Current Assets)

• Créances diverses: Miscellaneous receivables.
• Intérêts courus sur immo. financières: Accrued interest on financial fixed assets.
• Créances d'impôt sur les sociétés (IS): Corporate income tax receivables.
• Créances sur immobilisations: Receivables related to the sale of fixed assets.
• Valeurs mobilières de placement (VMP): Marketable securities.     - Exception: Included here sauf si assimilées à des disponibilités (unless they are treated as cash equivalents).

Actif de Trésorerie (AT - Cash Assets)

• Disponibilités: Cash on hand and bank balances.

Detailed Structure of Liabilities (Ressources/Passif)

Ressources Durables (Stable Resources)

• Capitaux propres: Shareholders' equity.
• Provisions pour risques et charges: Provisions for contingencies and losses.
• Amortissements et déprécations de l'actif: Total accumulated depreciation and impairment of assets (moved from the asset side to the liability side in a functional balance sheet).
• Dettes financières (sauf CBC et IC): Long-term financial debts, explicitly excluding bank steady-overdrafts (CBC) and accrued interests (IC).

Dettes à Court Terme d'Exploitation (DE - Operating Current Liabilities)

• Avances et acomptes reçus: Advances and down payments received from customers.
• Dettes fournisseurs: Accounts payable (trade creditors).
• Dettes fiscales (sauf IS) et sociales: Tax (excluding corporate income tax) and social security liabilities.
• Produits constatés d'avance: Deferred income related to operations.

Dettes à Court Terme Hors Exploitation (DHE - Non-Operating Current Liabilities)

• Dettes diverses: Miscellaneous short-term debts.
• Intérêts courus sur emprunts: Accrued interest on loans.
• Dettes d'IS: Corporate income tax liabilities.
• Dettes sur immobilisations: Debts related to the purchase of fixed assets.

Passif de Trésorerie (PT - Cash Liabilities)

• Concours bancaires courants (CBC): Bank overdrafts or short-term loans.
• Effets escomptés non échus (EENE): Discounted bills not yet matured (added back to the liability side to reflect the financing nature).

Key Financial Indicators and Calculations

Net Global Working Capital (FRNG)

• The FRNG (Fonds de roulement net global) measures the surplus of long-term resources over long-term uses.
• Formula: $FRNG = \text{Ressources Durables} - \text{Emplois Stables}$

Working Capital Requirement (BFR)

• BFR E (Besoin en fonds de roulement d'exploitation): The financing needed for the operating cycle.
• Formula: $BFRE = \text{Actif Circulant d'Exploitation (ACE)} - \text{Dettes d'Exploitation (DE)}$
• BFR HE (Besoin en fonds de roulement hors exploitation): The financing needed for non-operating items.
• Formula: $BFRHE = \text{Actif Circulant Hors Exploitation (ACHE)} - \text{Dettes Hors Exploitation (DHE)}$

Net Treasury (Trésorerie Nette)

• The TRESO NETTE represents the liquid resources available after all financing needs are met.
• Formula: $\text{Trésorerie Nette} = \text{Actif de Trésorerie (AT)} - \text{Passif de Trésorerie (PT)}$
• Relationship to Working Capital: $\text{Trésorerie Nette} = FRNG - (BFRE + BFRHE)$

Glossary of Technical Abbreviations

• IC (Intérêts courus): Accrued interest not yet due.
• CBC (Concours bancaires courants): Bank overdrafts or very short-term bank loans.
• EENE (Effets escomptés non échus): Discounted bills not yet matured; these are treated as a cash liability and added back to trade receivables to reflect the full risk/financing exposure.
• IS (Impôt sur les sociétés): Corporate income tax.
• FRNG: Fonds de roulement net global (Net Global Working Capital).
• BFR E: Besoin en fonds de roulement d'exploitation (Operating Working Capital Requirement).
• BFR HE: Besoin en fonds de roulement hors exploitation (Non-operating Working Capital Requirement).