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Guide to Fraud in the Era of Electronic Invoicing
The e-invoicing reform, whose mandatory implementation begins on September 1, 2026, represents a major transformation of financial flows for French businesses. It creates new operational opportunities, but it also opens an unprecedented window of exposure to fraudsters.
Deal info: Demathieu Bard
Nexia S&A acted as financial vendor due diligence advisor for Demathieu Bard's fifth MBO/LBO, alongside a consortium of minority investors (including BNP Paribas Développement, Bpifrance, and Société Générale Capital Partenaires) and the management team, aimed at restructuring the capital of the construction and real estate group.
Focus On: The reduced corporate income tax rate and the turnover threshold to be considered within a group
The tax authorities commented on April 14, 2026, on the Council of State's decision of March 13, 2025, which clarified the eligibility conditions for the reduced corporate income tax rate.
Regulatory updates: ESRS Standards
The European Commission published a draft delegated act on CSRD sustainability standards (revised ESRS standards – set 2) on May 6th. These revised standards would be applicable for the publication of sustainability statements in 2028 relating to the 2027 financial year, with the possibility for companies already subject to CSRD to apply them early from the 2026 financial year.
The Mushroom at the End of the World, 56th "Read For You" published by LeDoTank in partnership with Nexia S&A
This 'Lu pour vous' (Read for You) No. 56 is a summary of Anna Lowenhaupt Tsing's book, "The Mushroom at the End of the World: On the Possibility of Life in Capitalist Ruins," published in 2017. A professor of anthropology at the University of California, Santa Cruz, the author explores the possibilities of living in a damaged world after the collapse of capitalism's and modernity's promises. To do this, she starts with a particular case: the matsutake.
Deal Information: Alsea
Nexia S&A advised Generis Capital Partners on the environmental and ESG due diligence conducted during the primary LBO of Alsea, a company based in the Paris region, alongside its founding president Olivier Brun and the management team acquiring a stake.
Pay ratio and equity ratio
The CSRD has required subject companies to implement new management indicators on social, environmental, and business conduct topics. Among these indicators, the pay ratio proved to be one of the most complex to grasp for the social component.
Deal info: Recaero
Nexia S&A carried out financial and ESG due diligence on Recaero on behalf of a pool of bank investors composed of Grand Sud-Ouest Capital, Sofilaro, Idia Capital Investissement, BNP Paribas Development and Multicroissance, as part of a capital reorganization.
Focus on: The surrogate DSN
The Nominative Social Declaration (DSN) centralizes all the social data transmitted each month to social protection organizations. Despite its undeniable contributions, persistent anomalies remain in many statements, with direct consequences on the social rights of employees and in particular on pension rights. To remedy this, a new mechanism came into force in 2026: the surrogate DSN.
Electronic invoicing: Your invoices speak to the DGFiP
The generalization of electronic invoicing now places fiscal control in a logic of predictive targeting based on datamining and AI, with an increase in power assumed by the DGFiP in its official press releases.
Hotels: why is electronic invoicing first played out in the field?
From data collection to technical constraints, the reform of electronic invoicing reconstitutes the entire billing chain in the hotel industry. For establishments, the challenge is to quickly adapt working methods in order to reconcile compliance, cash flow control and the fluidity of the customer journey. Christophe Sauthon and Nady Bendaoud, partners at Nexia S&A, analyze the operational challenges of the sector.
Escaping modernity, 55th “Read for you” published by LedoTank in partnership with Nexia S&A
This Lu for you no. 55, entitled “Escape from modernity”, is a summary of the book “We have never been modern” by Bruno Latour, published in 2006. Sociologist, philosopher and associate professor at the Sciences Po medialab, he questions the notion of modernity and claims a “modern” positioning.