Article

10.05.2022

Are you the next 'Entrepreneur of the Year'?

Will your business succeed Aertssen and Odoo as ‘Enterprise of the Year 2022'? Who knows! Apply now and perhaps your company will snap up this prestigious award.

A dazzling event honouring the very best companies

The annual awards ceremony is an initiative of EY in collaboration with De Tijd/L’Echo and BNP Paribas Fortis. Last year, Aertssen, was crowned ‘Onderneming van het Jaar’ and Odoo ‘Entreprise de l’Année’. Deliverect was named 'Scale-up of the Year' for Flanders and Cowboy for the French-speaking part of Belgium. The winners of the 2022 awards will be announced on 5 and 6 December.

More than just numbers

The 'Entrepreneur of the Year' award has become a tradition as well as a quality label. The award recognises unique Belgian companies that demonstrate excellent entrepreneurial acumen and successful management. Companies that have weathered the storms of recent years, charting an impressive course. Because entrepreneurship is about more than just numbers, something the jury is keenly aware of. A company’s size and turnover therefore play less of a role in the assessment. Finalists are selected on the basis of criteria such as the company’s growth and financial results, entrepreneurship, internationalisation, innovation and good governance.

Oxygen for the economy

Didier Beauvois, Head of Corporate Banking & Member of the Executive Board, is proud that BNP Paribas Fortis has been a partner of this event from the outset. "Businesses face many challenges today. After the coronavirus pandemic, geopolitical challenges are now forcing companies to be more flexible. Sustainability also continues to be an important topic. Our mission is to help companies become future-ready because entrepreneurs are the driving force behind the Belgian economy. This also explains why we like to put these innovators in the spotlight every year and why we encourage Belgian companies to apply."

Why take part?

Winning the ‘Entrepreneur of the Year' or 'Scale-up of the Year' award offers numerous benefits to your company. These awards enjoy heightened national and international prestige and raise your company's profile. The awards ceremony attracts a great deal of media interest, both for winners and finalists, in addition to offering excellent networking opportunities. A place in the final is also a huge morale booster for your employees.

Interested? Apply now by surfing to the EY website Onderneming van het Jaar 2022 / Entreprise de l’Année 2022. Here you will find all the information about the criteria, the selection procedure and the registration process.

Source: image + text EY.com

Article

01.07.2022

CO² Value Europe: a partnership for a circular carbon economy

The bank is partnering with CO² Value Europe, an organisation that aims to deploy technologies for capturing and using CO² as a raw material.

What if it was possible to capture CO2 for recycling and use it as a raw material, rather than relying on fossil carbon? At CO2 Value Europe, this is not a futuristic vision, but a very concrete ambition, based on the concept of Carbon Capture Utilisation (CCU). These technologies are being rolled out to more and more industrial players and have the potential to make a real difference in the fight against climate change.

The birth of a solution

“For many industrial sectors, completely eliminating carbon is very difficult, if not impossible”, says Célia Sapart, Director of Communications and Climate Science at CO2 Value Europe. "It’s not just about reducing our CO2 emissions to meet climate targets. It's also about developing a circular carbon economy, capturing CO2 from industrial fumes or directly from the atmosphere and transforming it into different types of products needed, such as building materials, basic chemicals and renewable fuels. It is therefore a question of reducing our emissions while at the same time 'de-fossilising' our economy.”

One billion tonnes of CO2 every year

A crazy project? On the contrary! “Many initiatives are developing and things are speeding up, but today there is a lack of a legislative and regulatory framework to move up a gear", says Sapart. "Contributing to defining this framework is also one of the key reasons for creating CO2 Value Europe, as our aim is to enable CCU technologies that have a scientifically proven positive impact on our environment to be developed on a large scale. To this end, we lobby the European authorities to ensure that the concept of the CCU is properly considered and taken into account, for example in the European Emissions Trading Scheme (ETS). We are convinced that these technologies, developed in a clearly defined and regulated context, will make a difference and can lead to a significant reduction in CO2 emissions every year, as several studies from the latest IPCC assessment report reveal.”

An exchange of expertise

“We see this new partnership with BNP Paribas Fortis as a true sharing of knowledge”, says Anastasios Perimenis, Secretary General at CO2 Value Europe. "In order to accelerate the transition and make the first big projects happen and inspire others, we need financial support. BNP Paribas Fortis can help us understand which criteria are important to help finance the most promising CCU projects and put us in touch with key players. For our part, we bring our multidisciplinary knowledge and expertise on the CCU to increase investments in technologies that contribute to the transition to a circular, more sustainable and de-fossilised industry.”

Our support as a bank

“We are very excited to work with CO2 Value Europe”, says Didier Beauvois, Head of Corporate Banking and Member of the Executive Board of BNP Paribas Fortis. "To empower its impact on the climate, but also to encourage the creation of a new circular and industrial value chain. At BNP Paribas Fortis, we share CO2 Value Europe's ambition and want to play our role as a banker to the full, contributing to the development of innovative solutions that will make our economy more resilient and sustainable.”

Putting our expertise and relationships at the service of those seeking solutions for a better and more environmentally friendly industry: another example of Positive Banking.

Find out more

Visit the CO2 Value Europe website.

Article

02.06.2022

Karim Hajjar of Solvay is the 'Trends CFO of the Year 2022'

Trends and BNP Paribas Fortis highlight the performance of a Belgian financial director with this award, which was presented for the eleventh time on 1 June. Recticel won the 'Deal of the Year' award.

Photographer: Christophe Ketels

Karim Hajjar, CFO of the Solvay Chemicals and Materials Group, accepted the 'CFO of the Year' award at the Brussels Expo on Wednesday evening following Ingrid Daerden from Aedifica. The 59-year-old Brit has been the financial rock in Solvay’s branding for nine years, and has helped transform the traditional chemical group into a world player in high-tech plastics.

Fighting spirit and drive

In 2013, Hajjar joined Solvay as CFO. He first worked under CEO Jean-Pierre Clamadieu, with whom he completed over fifty deals. Since 2019, Hajjar, a father of five, has been assisting Clamadieu's successor Ilham Kadri through the pandemic and other crises, and streamlining the group. As part of this streamlining, a breakup of Solvay is planned for the second half of next year. One part, provisionally called EssentialCo, would include historical activities such as soda ash and the Silica branch, which focuses on the car tyre sector. The other part, SpecialCo, will include the fast-growing special polymers for

smartphones, the composite business in the aerospace and automotive industries, among others. “A no-brainer”, says Hajjar, who has faced much hotter fires in his life. Born in Beirut, he grew up during the Lebanese civil war. His family lost everything, which formed the breeding ground for Hajjar's fighting spirit and drive.

Karim Hajjar won out over four other strong candidates: Kristiaan De Beukelaer (Media House), Maud Larochette (N-Side), Geert Peeters (Greenyard) and Johan Vankelecom (Belfius).

Recticel wins the 'Deal of the Year 2022'

For the fourth time Trends also awarded a 'Deal of the Year' award. All mergers, acquisitions and capital operations (stock market introduction, capital increase, private placement, etc.) involving a Belgian company in 2021 were eligible. The most important criterion is the financial and strategic added value that the operation created for the stakeholders.

There were five deals in the running, and the one from Recticel emerged as the winner. This major player in polyurethane solutions is active in the furniture, automotive and construction sectors and sold its Engineered Foams division to the American company Carpenter for a final net proceeds of 606 million euros. This was an exceptionally strategic operation, with which Recticel was able to avert a hostile takeover attempt by the Austrian Greiner.

Partnership

Since 2012, BNP Paribas Fortis and Trends have been putting the spotlight on the exceptional qualities of a CFO of a top 500 company in Belgium. In 2019, the 'Deal of the Year' award was created. Because rewarding and encouraging contributors to our economy is also Positive Banking.

Congratulations to the winning CFO, the team behind the winning “Deal of the Year” and to all the other candidates.

Read the full interview with Karim Hajjar, CFO of Solvay (Dutch, French), and Olivier Chapelle, CEO of Recticel (Dutch, French).

Article

02.05.2022

Opt for a more sustainable mobility offer thanks to bicycle leasing

Sustainability isn't a hype – it's a must. The transition is also in full swing in terms of mobility. With bicycle leasing, you offer your employees a high-quality bicycle package and choose a more sustainable mobility offer. And it's tax efficient.

Cycling to work is popular

Not only our way of working has become hybrid; so too has the way we travel to work. More and more people are seeing the benefits of cycling to work, whether or not electric. An e-bike or speed pedelec is no longer just a gadget. Thanks to these, you can now comfortably cycle longer distances. So, bicycles are certainly part of a sustainable mobility policy. Bicycle leasing allows you to offer your employees a healthy and sporty option that reduces your organisation’s carbon footprint.

How does bicycle leasing work?

Bicycle leasing is much more than just financing bicycles. Maintenance, repairs, breakdown service and insurance are all included in the package. With Bike Lease, our mobility partner Arval offers an operational, full-service solution for 36 months. With over 120 brands and all types of bicycles, the range is extensive: city bikes, sports bikes, e-bikes, speed pedelecs, mountain bikes, folding bikes, etc. Your employees choose the bicycle that suits them best. An annual maintenance budget is provided for maintenance and repair by professionals. Bike Lease also includes indemnity for accidents, theft and vandalism of the bicycle with a fixed excess based on the value of the lease bike. And finally, a 24/7 breakdown service is provided within 45 minutes, anywhere in Belgium.

Good for everyone

Including bicycles in your mobility offer offers both your company and your employees many advantages.

  • Tax-efficient

The leasing costs are deductible for your company if your employees use their bikes to commute. By using this bike to commute, they avoid a taxable benefit in kind.

  • Healthy

Cycling makes healthier and fitter employees who suffer less from stress. And your company benefits from this as well.

  • Affordable

A bicycle is a cheaper alternative or complement to a company car for short to medium-distance trips. You save on fuel, maintenance and parking costs. It also allows you to offer mobility to a wider target group.

  • Flexible

Once your employees have chosen a type of bicycle, they decide for themselves when they pedal to work. Through all kinds of weather, when the sun is shining or when there are too many traffic jams and a bicycle is the perfect alternative to a car. They can also enjoy their bikes in their free time.

  • Sustainable

A bicycle has of course a low ecological footprint and fits perfectly in a sustainable mobility policy. By offering your employees a bicycle, your company emits less CO2 and your organisation becomes more socially responsible.

Are you open to including bicycles in your mobility offer? Your relationship manager will be happy to explain the options to you. Please don't hesitate to contact us.
Operational leasing is offered by Arval Belgium SA/NV, with the intervention of BNP Paribas Fortis SA/NV – Montagne du Parc/Warandeberg 3, B-1000 Brussels, Brussels Register of Companies VAT BE0403.199.702.
The information provided here does not constitute an offer. An offer is made only after your file has been accepted and is always subject to Arval Belgium SA/NV's General Terms and Conditions.
Article

23.12.2021

Electric cars are gradually becoming the norm

As of 2026, a favourable tax regime will only apply to electric company cars. This is an important step towards more sustainable mobility – and an extra reason to go all out in greening your fleet.

The evolution towards a greening of company cars has now also been laid down by law. Thanks to a number of tax changes, electric company cars or e-cars will be the most interesting choice from now on. The perfect time to start electrifying your fleet already today.

The tax deductibility for newly ordered non-emission-free vehicles (diesel, petrol and hybrid cars) will gradually be phased out. Up to 2026, however, this will be 100% for emission-free vehicles (purely electric or hydrogen-powered cars). Afterwards, this deductibility will gradually decrease to 67.5% by 2031.

Electric driving isn’t just more tax-efficient

Electric cars are already 100% tax-deductible. And yet most fleets aren't really green yet. One reason is that the purchase price of an electric or hybrid car is considerably higher than that of a comparable car with a combustion engine. There’s been a noticeable evolution here due to the market mechanism, though, and prices are now less far apart.

But the purchase price isn’t the only factor to consider. In making this choice, it’s actually better to look at the TCO (Total Cost of Ownership). This includes all expected costs: consumption, maintenance, CO2 contribution and tax deductibility. And these four elements are all more favourable for electric cars. If you use the TCO rather than purchase price as a yardstick, you’ll see that a green fleet of e-cars will be the most advantageous choice for your company in the future.

Progressive switch

Even though electric driving is the future and it’s clearly time for a new mobility, the tax scheme for cars powered by fossil fuel won’t change overnight.

  • Until 30 June 2023
    For company cars ordered before 1 July 2023, the current conditions regarding tax deductibility will continue to apply. For company cars that are leased or rented operationally and for which the beneficial ownership is not transferred, the closing date of the lease or rental contract is considered. The costs of a diesel, petrol or hybrid car remain 50 to 100% deductible, while the costs of electric cars remain 100% deductible.
  • Between 1 July 2023 and 31 December 2025
    For non-emission-free vehicles ordered as of 1 July 2023 until 31 December 2025, a transition period will apply, and the deductibility is gradually phased out. From a maximum of 75% in 2025, to 50% in 2026, to 25% in 2027, and ultimately 0% deductibility in 2028. As of 2025 the minimal deductibility of 50% is abolished. The CO2 contribution for these cars will also increase significantly each year. Emission-free cars will remain 100% deductible.
  • As of 1 January 2026 onwards
    Non-emission-free vehicles ordered as of 1 January 2026 will no longer be deductible. Only emission-free vehicles such as electric cars will then be 100% deductible. But this favourable scheme will also be gradually phased out over the next few years, to 95% for vehicles ordered in 2027, to 90% in 2028, to 82.5% in 2029, 75% in 2030 and eventually to 67.5% in 2031.
  • Plug-in hybrids (PHEV)
    For plug-in hybrids (PHEVs) ordered as of 1 January 2023, the tax deductibility of petrol and diesel costs will be limited to 50%. Electricity and other costs are not covered by this restriction. This measure is designed to encourage the use of electric motors and PHEV. Otherwise, PHEVs will continue to follow the non-emission-free vehicle rules.

And for your employees?

If you allocate a company car that your employee can also use privately, this benefit will be taxed as a fixed benefit in kind that depends on the list price and CO2 emissions and the fuel type. The status of the company car as an alternative remuneration will remain in place until after 2030. For the time being, therefore, nothing will change in the benefit in kind of the company car with respect to the employee. Although electric vehicles generally have a higher list price, zero emissions can make up for the difference and in many cases, turn out favourably for your employee.

What about charging?

To help your employees make the most of an electric car, you can have a charging station installed at their home if possible. Both the device and the installation at your employee's home are 100% tax deductible and there is no additional tax benefit for them.

As a company, you can, under certain conditions, benefit from an increased cost deduction for the installation of charging stations on your company premises. This amounts to 200% for investments made in the period from 1 September 2021 to 31 December 2022 and 150% for depreciations relating to investments made in the period from 1 January 2023 to 31 August 2024. A condition is that the charging station is depreciated linearly over at least five taxable periods and at the earliest as of the fiscal year that is linked to the taxable period during which the charging station is operational and publicly accessible.

Switch to an electric fleet

In addition to favourable tax conditions, there are many other excellent reasons to opt for electric cars today.

  • It is an environmentally friendly solution that leads to 17-30% less CO2 emissions than the emissions from ICE (Internal Combustion Engine) vehicles throughout the entire life cycle of the vehicle.
  • A wide range of new models is already on the market today and will only increase in the coming years.
  • Most new models already have a driving range of 300 to 600 km.
  • Advantageous Total Cost of Ownership (TCO).
  • Electric driving is pleasant and causes much less street noise.
  • The public charging infrastructure is expanding rapidly.
  • Access to low-emission zones and cities that ban diesel vehicles.

Nowadays, responsible fleet management is built around sustainability. Don't wait any longer to electrify your fleet and reduce your company’s ecological footprint. Our mobility partner Arval will help you to green your fleet and support you in your transition to electric vehicles.

Discover all our solutions or discuss them with your relationship manager.

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