Les clients croyaient que nous aurions envoyé le bilan de l'avancement.

Questions & Answers about Les clients croyaient que nous aurions envoyé le bilan de l'avancement.

Why is aurions envoyé used here instead of the futur antérieur (aurons envoyé)?
Because the main verb croyaient is in the past, which triggers backshifting in reported speech. The clients' original thought was likely 'They will have sent it' (futur antérieur). When reporting this past thought, the futur antérieur shifts back to the conditionnel passé (aurions envoyé).
Could we use the plus-que-parfait (avions envoyé) in this sentence instead?
You could, but it changes the timeline completely. The plus-que-parfait (nous avions envoyé) would mean 'we had sent', meaning the sending happened before the clients formed their belief. The conditionnel passé here means 'we would have sent', which describes an action the clients expected to be completed at some point in their future.
I always forget: does croire que require the subjunctive?
Not when it is affirmative, like it is here. Verbs of thinking and believing (like croire and penser) take the indicative mood in affirmative statements. They generally only trigger the subjunctive when they are negative (such as ne croyaient pas que) or used in inverted questions.
What is the literal breakdown of le bilan de l'avancement?
Un bilan is an assessment, appraisal, or summary, while l'avancement means progress or advancement. In professional settings, this combination translates naturally to a 'progress assessment' or 'status report'.

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