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"kind": "input", "bold": false, "value_c": 14900, "value_d": null }, { "key": "ar_A", "label": "Amazon settlement receivable incl. reserve", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 118600, "value_d": null }, { "key": "ar_W", "label": "Walmart settlement receivable", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 0, "value_d": null }, { "key": "inv_Cookware", "label": "Inventory on hand at landed cost: Cookware", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 186000, "value_d": null }, { "key": "inv_Knives", "label": "Inventory on hand at landed cost: Knives", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 98000, "value_d": null }, { "key": "inv_Textiles", "label": "Inventory on hand at landed cost: Textiles", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 142000, "value_d": null }, { "key": "inv_Tableware", "label": "Inventory on hand at landed cost: Tableware", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 121000, "value_d": null }, { "key": "inv_Storage", "label": "Inventory on hand at landed cost: Storage", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 96000, "value_d": null }, { "key": "prov", "label": "Slow-moving inventory provision", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 18000, "value_d": null }, { "key": "intransit", "label": "Inventory in transit (FOB value of shipped POs)", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 154000, "value_d": null }, { "key": "prepay", "label": "Supplier deposits (prepayments on open POs)", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 23100, "value_d": null }, { "key": "otherrec", "label": "Other receivables and prepaid expenses", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 21500, "value_d": null }, { "key": "fa_equip_cost", "label": "Equipment and fixtures: cost", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 48000, "value_d": null }, { "key": "fa_equip_dep", "label": "Equipment and fixtures: accumulated depreciation", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 21000, "value_d": null }, { "key": "fa_soft_cost", "label": "Website and software: cost", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 60000, "value_d": null }, { "key": "fa_soft_dep", "label": "Website and software: accumulated depreciation", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 32000, "value_d": null }, { "key": "ap_log", "label": "Trade payables: logistics and fulfilment", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 62300, "value_d": null }, { "key": "ap_media", "label": "Trade payables: paid media", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 24800, "value_d": null }, { "key": "ap_other", "label": "Trade payables: other opex", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 41600, "value_d": null }, { "key": "paytax", "label": "Wage tax and social charges payable", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 15900, "value_d": null }, { "key": "refundliab", "label": "Refund liability", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 19400, "value_d": null }, { "key": "vat", "label": "VAT payable", "basis": "FY25 accounts", "section": "OPENING 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"retained", "label": "Retained earnings", "basis": "FY25 accounts", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "input", "bold": false, "value_c": 521000, "value_d": null }, { "key": "ob_check", "label": "Opening balance check: assets less liabilities less equity (must be zero)", "basis": "formula", "section": "OPENING BALANCE SHEET AT 31-DEC-25 (per FY25 signed accounts, fictional) - values in column C", "format": "int", "kind": "calc", "bold": true, "value_c": 0, "value_d": null } ] }, "Volume_Price": { "title": "VOLUME AND PRICE ENGINE BY CATEGORY AND CHANNEL", "description": "Actual months link to Inputs_Actuals. 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501.802, 570.0081, 807.3946, 708.0658 ], "fy2026": 5895.0671, "fy2027": 6171.5752, "total_rule": "sum" }, { "key": "units_S", "label": "Total units sold", "basis": "sum", "section": "SHOPIFY EU (DTC): UNITS, PRICES (EUR) AND COST OF GOODS SHIPPED", "format": "int", "kind": "calc", "bold": true, "values": [ 2296, 2270, 2649, 2630, 2929, 2821, 2659, 2667, 2888.3573, 3280.9493, 4647.339, 4075.6054, 2550.2178, 2381.9606, 2690.6232, 2791.6379, 2953.711, 2874.9566, 2734.7396, 2684.8617, 3032.7751, 3444.9967, 4879.706, 4279.3857 ], "fy2026": 35813.251, "fy2027": 37299.5719, "total_rule": "sum" }, { "key": "pla_S_Cookware", "label": "Gross unit price at last actual month: Cookware", "basis": "helper: single value in column C", "section": "SHOPIFY EU (DTC): UNITS, PRICES (EUR) AND COST OF GOODS SHIPPED", "format": "eur2", "kind": "calc", "bold": false, "value_c": 120.32, "value_d": null }, { "key": "pla_S_Knives", "label": "Gross unit price at last actual month: Knives", "basis": "helper: 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Actual months from Inputs_Actuals (Walmart converted at the Timeline USD/EUR rate); forecast months driver-based from Assumptions. 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revenue and cost of goods by category are bottom-up from Volume_Price. Discounts, refunds, shipping income, recovered returns, variable channel costs and paid media are allocated to categories by each category share of the channel gross sales in the month. 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Forecast: salaries from the headcount table (planned hires switched by the scenario); fixed lines from the monthly base in column C with inflation from FY27; discretionary lines scaled by the scenario factor; customer service per order and bank charges as a share of net revenue.", "months": 24, "rows": [ { "key": "role_ceo", "label": "Founder and CEO", "basis": "employer cost x inflation x active flag", "section": "HEADCOUNT TABLE (C = monthly employer cost, D = start month; existing roles at cost, planned hires only if the scenario allows)", "format": "int", "kind": "calc", "bold": false, "values": [ 7200, 7200, 7200, 7200, 7200, 7200, 7200, 7200, 7200, 7200, 7200, 7200, 7416, 7416, 7416, 7416, 7416, 7416, 7416, 7416, 7416, 7416, 7416, 7416 ], "fy2026": 7200, "fy2027": 44651, "total_rule": "sum" }, { "key": "role_ecom", "label": "Head of Ecommerce", "basis": "employer cost x inflation x active flag", "section": "HEADCOUNT TABLE (C = monthly employer cost, D = start month; existing roles at cost, planned hires only if the scenario allows)", "format": "int", "kind": "calc", "bold": false, "values": [ 6100, 6100, 6100, 6100, 6100, 6100, 6100, 6100, 6100, 6100, 6100, 6100, 6283, 6283, 6283, 6283, 6283, 6283, 6283, 6283, 6283, 6283, 6283, 6283 ], "fy2026": 6100, "fy2027": 44957, "total_rule": "sum" }, { "key": "role_perf", "label": "Performance Marketing Manager", "basis": "employer cost x inflation x active flag", "section": "HEADCOUNT TABLE (C = monthly employer cost, D = start month; 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F: see column basis", "section": "OPERATING EXPENSES", "format": "int", "kind": "calc", "bold": false, "values": [ 43800, 43900, 44100, 47200, 47300, 47600, 47500, 47900, 48800, 48800, 48800, 48800, 50264, 50264, 50264, 50264, 50264, 50264, 50264, 50264, 50264, 50264, 50264, 50264 ], "fy2026": 564500, "fy2027": 603168, "total_rule": "sum" }, { "key": "opex_contractors", "label": "Contractors and freelancers", "basis": "A: Inputs; F: see column basis", "section": "OPERATING EXPENSES", "format": "int", "kind": "calc", "bold": false, "values": [ 5056, 4877, 4502, 4495, 4172, 6301, 5372, 4804, 4320, 4320, 4320, 4320, 4449.6, 4449.6, 4449.6, 4449.6, 4449.6, 4449.6, 4449.6, 4449.6, 4449.6, 4449.6, 4449.6, 4449.6 ], "fy2026": 56859, "fy2027": 53395.2, "total_rule": "sum" }, { "key": "opex_rent", "label": "Rent and facilities", "basis": "A: Inputs; F: see column basis", "section": "OPERATING EXPENSES", "format": "int", "kind": "calc", "bold": false, "values": [ 4800, 4800, 4800, 4800, 4800, 4800, 4800, 4800, 4800, 4800, 4800, 4800, 4944, 4944, 4944, 4944, 4944, 4944, 4944, 4944, 4944, 4944, 4944, 4944 ], "fy2026": 57600, "fy2027": 59328, "total_rule": "sum" }, { "key": "opex_software", "label": "Software, apps and platform subscriptions", "basis": "A: Inputs; F: see column basis", "section": "OPERATING EXPENSES", "format": "int", "kind": "calc", "bold": false, "values": [ 4056, 4090, 4102, 4171, 4253, 4383, 4437, 4512, 4300, 4300, 4300, 4300, 4429, 4429, 4429, 4429, 4429, 4429, 4429, 4429, 4429, 4429, 4429, 4429 ], "fy2026": 51204, "fy2027": 53148, "total_rule": "sum" }, { "key": "opex_profees", "label": "Professional fees (finance, legal, audit)", "basis": "A: Inputs; F: see column basis", "section": "OPERATING EXPENSES", "format": "int", "kind": "calc", "bold": false, "values": [ 3410, 3074, 3178, 3262, 3267, 2986, 3135, 3358, 3200, 3200, 3200, 3200, 3296, 3296, 3296, 3296, 3296, 3296, 3296, 3296, 3296, 3296, 3296, 3296 ], "fy2026": 38470, "fy2027": 39552, "total_rule": "sum" }, { "key": "opex_insurance", "label": "Insurance", "basis": "A: Inputs; F: see column basis", "section": "OPERATING EXPENSES", "format": "int", "kind": "calc", "bold": false, "values": [ 1150, 1150, 1150, 1150, 1150, 1150, 1150, 1150, 1150, 1150, 1150, 1150, 1184.5, 1184.5, 1184.5, 1184.5, 1184.5, 1184.5, 1184.5, 1184.5, 1184.5, 1184.5, 1184.5, 1184.5 ], "fy2026": 13800, "fy2027": 14214, "total_rule": "sum" }, { "key": "opex_travel", "label": "Travel and entertainment", "basis": "A: Inputs; F: see column basis", "section": "OPERATING EXPENSES", "format": "int", "kind": "calc", "bold": false, "values": [ 1765, 1137, 1503, 1091, 942, 1413, 688, 1869, 1260, 1260, 1260, 1260, 1297.8, 1297.8, 1297.8, 1297.8, 1297.8, 1297.8, 1297.8, 1297.8, 1297.8, 1297.8, 1297.8, 1297.8 ], "fy2026": 15448, "fy2027": 15573.6, "total_rule": "sum" }, { "key": "opex_content", "label": "Content, creative and PR (non-media)", "basis": "A: Inputs; F: see column basis", "section": "OPERATING EXPENSES", "format": "int", "kind": "calc", "bold": false, "values": [ 6719, 5921, 5117, 6119, 5586, 6021, 5795, 6407, 4950, 4950, 4950, 4950, 5098.5, 5098.5, 5098.5, 5098.5, 5098.5, 5098.5, 5098.5, 5098.5, 5098.5, 5098.5, 5098.5, 5098.5 ], "fy2026": 67485, "fy2027": 61182, "total_rule": "sum" }, { "key": "opex_office", "label": "Office and other G&A", "basis": "A: Inputs; F: see column basis", "section": "OPERATING EXPENSES", "format": "int", "kind": "calc", "bold": false, "values": [ 1825, 1606, 1720, 1762, 2110, 1495, 1774, 1828, 1800, 1800, 1800, 1800, 1854, 1854, 1854, 1854, 1854, 1854, 1854, 1854, 1854, 1854, 1854, 1854 ], "fy2026": 21320, "fy2027": 22248, "total_rule": "sum" }, { "key": "opex_recruit", "label": "Recruitment and training", "basis": "A: Inputs; 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0, -157853.4516, 0, 0, -155582.3382, 0, 0 ], "fy2026": -479969.4038, "fy2027": -666106.5947, "total_rule": "sum" }, { "key": "p_cit", "label": "Corporate income tax paid", "basis": "schedule cash line", "section": "DIRECT METHOD (built from the cash lines of each schedule)", "format": "int", "kind": "calc", "bold": false, "values": [ 0, 0, 0, -18400, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0 ], "fy2026": -18400, "fy2027": 0, "total_rule": "sum" }, { "key": "p_int", "label": "Interest paid", "basis": "schedule cash line", "section": "DIRECT METHOD (built from the cash lines of each schedule)", "format": "int", "kind": "calc", "bold": false, "values": [ -2500, -2455.1777, -2410.0754, -2364.6911, -2319.0231, -2273.0698, -2226.8292, -2180.2996, -2133.4792, -2086.3662, -2038.9588, -1991.255, -1943.2531, -1894.9512, -1846.3474, -1797.4398, -1748.2265, -1698.7057, -1648.8753, -1598.7336, -1548.2784, -1497.5079, -1446.42, -1395.0129 ], "fy2026": -26979.2252, "fy2027": -20063.7518, "total_rule": "sum" }, { "key": "p_bank", "label": "Bank charges and FX costs paid in the month", "basis": "schedule cash line", "section": "DIRECT METHOD (built from the cash lines of each schedule)", "format": "int", "kind": "calc", "bold": false, "values": [ -398, -399, -476, -463, -528, -485, -474, -496, -502.0247, -572.2175, -813.322, -715.7411, -449.4236, -421.2474, -477.517, -497.2076, -527.9572, -515.7315, -492.3564, -485.1392, -550.0158, -627.0817, -891.5365, -784.7783 ], "fy2026": -6322.3053, "fy2027": -6719.9922, "total_rule": "sum" }, { "key": "p_capex", "label": "Capex paid, VAT-inclusive", "basis": "schedule cash line", "section": "DIRECT METHOD (built from the cash lines of each schedule)", "format": "int", "kind": "calc", "bold": false, "values": [ -2904, 0, -8228, 0, -1452, 0, -4235, 0, -1815, -1815, -1815, -1815, -1815, -38115, -1815, -1815, -1815, -1815, -1815, -1815, -1815, -1815, -1815, -1815 ], "fy2026": -24079, "fy2027": -58080, "total_rule": "sum" }, { "key": "p_loan", "label": "Term loan principal repaid net of drawdowns", "basis": "schedule cash line", "section": "DIRECT METHOD (built from the cash lines of each schedule)", "format": "int", "kind": "calc", "bold": false, "values": [ -7171.5608, -7216.383, -7261.4854, -7306.8697, -7352.5376, -7398.491, -7444.7316, -7491.2611, -7538.0815, -7585.1945, -7632.602, -7680.3058, -7728.3077, -7776.6096, -7825.2134, -7874.121, -7923.3342, -7972.8551, -8022.6854, -8072.8272, -8123.2824, -8174.0529, -8225.1407, -8276.5479 ], "fy2026": -89079.5041, "fy2027": -95994.9775, "total_rule": "sum" }, { "key": "p_div", "label": "Dividends paid", "basis": "schedule cash line", "section": "DIRECT METHOD (built from the cash lines of each schedule)", "format": "int", "kind": "calc", "bold": false, "values": [ 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0 ], "fy2026": 0, "fy2027": 0, "total_rule": "sum" }, { "key": "direct_net", "label": "NET CASH FLOW, DIRECT METHOD", "basis": "", "section": "DIRECT METHOD (built from the cash lines of each schedule)", "format": "int", "kind": "calc", "bold": true, "values": [ 16444.4392, -17823.5608, 95121.4392, -145068.041, 125215.4392, 41629.4392, -163141.3981, 59074.4392, -109195.0446, -55279.9818, 87671.1608, 171708.6297, -115687.286, -55319.5737, 38457.2827, -102069.8873, 38862.9961, 25399.0937, -217538.5391, -29026.6265, -139398.5412, -144942.5655, 34841.1514, 93868.2084 ], "fy2026": 106356.9605, "fy2027": -572554.2869, "total_rule": "sum" }, { "key": "method_diff", "label": "CHECK: indirect less direct (must be zero)", "basis": "", "section": "DIRECT METHOD (built from the cash lines of each schedule)", "format": "int", "kind": "calc", "bold": true, "values": [ 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0 ], "fy2026": 0, "fy2027": 0, "total_rule": "sum" } ] }, "Budget_FY26": { "title": "ORIGINAL FY2026 BUDGET (APPROVED DEC-25, FICTIONAL)", "description": "Twelve budget months. Orders, net revenue per order, cost ratios and opex lines are inputs as approved; everything else is calculated. The budget is never overwritten: BvA compares it with actuals and with the current outlook.", "months": 12, "rows": [ { "key": "orders_S", "label": "Shopify EU (DTC): orders", "basis": "budget input", "section": "VOLUMES AND NET REVENUE", "format": "int", "kind": "input", "bold": false, "values": [ 1978, 1840, 2070, 2139, 2254, 2185, 2070, 2024, 2277, 2576, 3634, 3174 ], "fy2026": 28221, "total_rule": "sum" }, { "key": "orders_A", "label": "Amazon EU (FBA): orders", "basis": "budget input", "section": "VOLUMES AND NET REVENUE", "format": "int", "kind": "input", "bold": false, "values": [ 2322, 2160, 2430, 2511, 2646, 2565, 2430, 2376, 2673, 3024, 4266, 3726 ], "fy2026": 33129, "total_rule": "sum" }, { "key": "orders_W", "label": "Walmart US (WFS): orders", "basis": "budget input", "section": "VOLUMES AND NET REVENUE", "format": "int", "kind": "input", "bold": false, "values": [ 320, 400, 500, 600, 700, 800, 900, 1000, 1100, 1250, 1700, 1500 ], "fy2026": 10770, "total_rule": "sum" }, { "key": "upo_S", "label": "Shopify EU (DTC): units per order", "basis": "budget input", "section": "VOLUMES AND NET REVENUE", "format": "num2", "kind": "input", "bold": false, "values": [ 1.35, 1.35, 1.35, 1.35, 1.35, 1.35, 1.35, 1.35, 1.35, 1.35, 1.35, 1.35 ], "fy2026": 16.2, "total_rule": "sum" }, { "key": "upo_A", "label": "Amazon EU (FBA): units per order", "basis": "budget input", "section": "VOLUMES AND NET REVENUE", "format": "num2", "kind": "input", "bold": false, "values": [ 1.15, 1.15, 1.15, 1.15, 1.15, 1.15, 1.15, 1.15, 1.15, 1.15, 1.15, 1.15 ], "fy2026": 13.8, "total_rule": "sum" }, { "key": "upo_W", "label": "Walmart US (WFS): units per order", "basis": "budget input", "section": "VOLUMES AND NET REVENUE", "format": "num2", "kind": "input", "bold": false, "values": [ 1.2, 1.2, 1.2, 1.2, 1.2, 1.2, 1.2, 1.2, 1.2, 1.2, 1.2, 1.2 ], "fy2026": 14.4, "total_rule": "sum" }, { "key": "units_S", "label": "Shopify EU (DTC): units", "basis": "orders x units per order", "section": 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"unit": "month", "value": 4, "note": "Assumed paid in April of the following year (final assessment); no provisional assessments modelled" }, { "row": 19, "type": "scalar", "label": "NL VAT standard rate", "unit": "rate", "value": 0.21, "note": null }, { "row": 20, "type": "scalar", "label": "Blended output VAT rate on Shopify EU sales (NL + OSS destination rates)", "unit": "rate", "value": 0.205, "note": "Blend of NL 21% and other EU destination rates under the OSS scheme" }, { "row": 21, "type": "scalar", "label": "Blended output VAT rate on Amazon EU sales (Pan-EU, OSS)", "unit": "rate", "value": 0.205, "note": null }, { "row": 22, "type": "scalar", "label": "Output VAT on Walmart US sales", "unit": "rate", "value": 0, "note": "Exports zero-rated; US sales tax collected and remitted by Walmart as marketplace facilitator" }, { "row": 23, "type": "scalar", "label": "Share of carrier and 3PL cost bearing recoverable NL VAT", "unit": "share", "value": 0.85, "note": null }, { "row": 24, "type": "scalar", "label": "Share of other opex bearing recoverable NL VAT", "unit": "share", "value": 0.55, "note": "Remainder is reverse-charged (foreign SaaS, ad platforms) or exempt (insurance)" }, { "row": 25, "type": "scalar", "label": "Share of capex bearing recoverable NL VAT", "unit": "share", "value": 1, "note": null }, { "row": 26, "type": "scalar", "label": "Wage tax and social charges as share of payroll cost, remitted the following month", "unit": "share", "value": 0.32, "note": null }, { "row": 27, "type": "scalar", "label": "Run-rate basis for Shopify forecast: number of latest actual months", "unit": "months", "value": 8, "note": "Deseasonalised average of the latest N actual months" }, { "row": 28, "type": "scalar", "label": "Run-rate basis for Amazon forecast: number of latest actual months", "unit": "months", "value": 8, "note": null }, { "row": 29, "type": "scalar", "label": "Run-rate basis for Walmart forecast: number of latest actual months", "unit": "months", "value": 3, "note": "Channel launched Jan-26 and still ramping, so only the latest quarter is representative" }, { "row": 30, "type": "scalar", "label": "Forecast category mix: number of latest actual months averaged", "unit": "months", "value": 3, "note": null }, { "row": 31, "type": "scalar", "label": "Refund liability: days of month-end sales still inside the return window", "unit": "days", "value": 14, "note": "Provision = refunds of the month x days / days in month" }, { "row": 32, "type": "scalar", "label": "Slow-moving inventory: months of cover above which excess is provided", "unit": "months", "value": 7, "note": null }, { "row": 33, "type": "scalar", "label": "Slow-moving provision rate on the excess", "unit": "rate", "value": 0.25, "note": null }, { "row": 34, "type": "scalar", "label": "Forecast inventory write-offs as share of cost of goods shipped", "unit": "rate", "value": 0.003, "note": null }, { "row": 35, "type": "scalar", "label": "Uncommitted purchases: deposit 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Tableware (freight, duty, inbound handling)", "unit": "share", "value": 0.24, "note": null }, { "row": 42, "type": "scalar", "label": "Landed cost uplift on FOB: Storage (freight, duty, inbound handling)", "unit": "share", "value": 0.2, "note": null }, { "row": 43, "type": "scalar", "label": "Amazon FBA storage fee multiplier in Oct to Dec (peak season)", "unit": "x", "value": 2.8, "note": "Amazon peak-season storage rates apply Oct to Dec" }, { "row": 44, "type": "scalar", "label": "Trade payables: days outstanding, logistics and fulfilment", "unit": "days", "value": 30, "note": null }, { "row": 45, "type": "scalar", "label": "Trade payables: days outstanding, paid media (Meta, Google)", "unit": "days", "value": 10, "note": null }, { "row": 46, "type": "scalar", "label": "Trade payables: days outstanding, other opex", "unit": "days", "value": 25, "note": null }, { "row": 47, "type": "scalar", "label": "Customer service cost per order (outsourced)", "unit": "EUR", "value": 0.7, "note": null }, { "row": 48, "type": "scalar", "label": "Bank charges and FX costs as share of net revenue", "unit": "rate", "value": 0.0015, "note": null }, { "row": 49, "type": "scalar", "label": "Opex inflation applied from the second financial year", "unit": "rate", "value": 0.03, "note": null }, { "row": 50, "type": "scalar", "label": "Share of Shopify paid media on Meta (rest Google)", "unit": "share", "value": 0.7, "note": null }, { "row": 51, "type": "scalar", "label": "Term loan: principal drawn", "unit": "EUR", "value": 400000, "note": "Drawn Dec-25; 48 monthly annuity instalments from Jan-26" }, { "row": 52, "type": "scalar", "label": "Term loan: annual interest rate", "unit": "rate", "value": 0.075, "note": null }, { "row": 53, "type": "scalar", "label": "Term loan: term in months", "unit": "months", "value": 48, "note": null }, { "row": 54, "type": "scalar", "label": "Forecast maintenance capex per month (equipment)", "unit": "EUR", "value": 1500, "note": null }, { "row": 55, "type": "scalar", "label": "Website rebuild capitalised (software) in Feb-27", "unit": "EUR", "value": 30000, "note": null }, { "row": 56, "type": "scalar", "label": "Depreciation: equipment and fixtures useful life", "unit": "years", "value": 5, "note": null }, { "row": 57, "type": "scalar", "label": "Depreciation: website and software useful life", "unit": "years", "value": 3, "note": null }, { "row": 78, "type": "scenario_driver", "label": "Shopify unit volume growth vs deseasonalised run-rate (annualised)", "unit": null, "base": 0.22, "downside": 0.05, "upside": 0.32, "selected": 0.05, "ytd_actual_reference": null, "note": "Compounds monthly from the first forecast month" }, { "row": 79, "type": "scenario_driver", "label": "Amazon unit volume growth vs run-rate (annualised)", "unit": null, "base": 0.28, "downside": 0.1, "upside": 0.38, "selected": 0.1, "ytd_actual_reference": null, "note": null }, { "row": 80, "type": "scenario_driver", "label": "Walmart unit volume growth vs run-rate (annualised)", "unit": null, "base": 0.7, "downside": 0.25, "upside": 1.1, "selected": 0.25, "ytd_actual_reference": null, "note": "New channel: run-rate is the latest quarter only" }, { "row": 81, "type": "scenario_driver", "label": "Shopify gross unit price change (annualised)", "unit": null, "base": 0.03, "downside": 0, "upside": 0.04, "selected": 0, "ytd_actual_reference": null, "note": null }, { "row": 82, "type": "scenario_driver", "label": "Amazon gross unit price change (annualised)", "unit": null, "base": 0.02, "downside": 0, "upside": 0.03, "selected": 0, "ytd_actual_reference": null, "note": null }, { "row": 83, "type": "scenario_driver", "label": "Walmart gross unit price change in USD (annualised)", "unit": null, "base": 0.02, "downside": 0, "upside": 0.03, "selected": 0, "ytd_actual_reference": null, "note": null }, { "row": 84, "type": "scenario_driver", "label": "Shopify discounts as share of gross sales", "unit": null, "base": 0.085, "downside": 0.1, "upside": 0.075, "selected": 0.1, "ytd_actual_reference": 0.0844, "note": null }, { "row": 85, "type": "scenario_driver", "label": "Amazon discounts and coupons as share of gross sales", "unit": null, "base": 0.04, "downside": 0.05, "upside": 0.035, "selected": 0.05, "ytd_actual_reference": 0.0397, "note": null }, { "row": 86, "type": "scenario_driver", "label": "Walmart discounts as share of gross sales", "unit": null, "base": 0.05, "downside": 0.06, "upside": 0.045, "selected": 0.06, "ytd_actual_reference": 0.0489, "note": null }, { "row": 87, "type": "scenario_driver", "label": "Shopify refunds and returns as share of gross sales", "unit": null, "base": 0.065, "downside": 0.08, "upside": 0.055, "selected": 0.08, "ytd_actual_reference": 0.0624, "note": "Textiles quality issue lifted the actual rate through the year" }, { "row": 88, "type": "scenario_driver", "label": "Amazon refunds and returns as share of gross sales", "unit": null, "base": 0.075, "downside": 0.09, "upside": 0.07, "selected": 0.09, "ytd_actual_reference": 0.0728, "note": null }, { "row": 89, "type": "scenario_driver", "label": "Walmart refunds and returns as share of gross sales", "unit": null, "base": 0.085, "downside": 0.1, "upside": 0.08, "selected": 0.1, "ytd_actual_reference": 0.0859, "note": null }, { "row": 90, "type": "scenario_driver", "label": "Shopify units per order", "unit": "units", "base": 1.35, "downside": 1.32, "upside": 1.38, "selected": 1.32, "ytd_actual_reference": 1.3399, "note": null }, { "row": 91, "type": "scenario_driver", "label": "Amazon units per order", "unit": "units", "base": 1.15, "downside": 1.13, "upside": 1.17, "selected": 1.13, "ytd_actual_reference": 1.1501, "note": null }, { "row": 92, "type": "scenario_driver", "label": "Walmart units per order", "unit": "units", "base": 1.2, "downside": 1.18, "upside": 1.22, "selected": 1.18, "ytd_actual_reference": 1.2079, "note": null }, { "row": 93, "type": "scenario_driver", "label": "Shopify shipping income per order", "unit": "EUR", "base": 3.4, "downside": 3.2, "upside": 3.5, "selected": 3.2, "ytd_actual_reference": 3.4346, "note": null }, { "row": 94, "type": "scenario_driver", "label": "Landed unit cost inflation (annualised)", "unit": null, "base": 0.03, "downside": 0.07, "upside": 0.01, "selected": 0.07, "ytd_actual_reference": null, "note": "Downside reflects freight and input cost spikes" }, { "row": 95, "type": "scenario_driver", "label": "Returned units resellable and recovered to stock", "unit": null, "base": 0.65, "downside": 0.55, "upside": 0.7, "selected": 0.55, "ytd_actual_reference": 0.6496, "note": null }, { "row": 96, "type": "scenario_driver", "label": "Amazon referral fee rate (Home and Kitchen)", "unit": null, "base": 0.15, "downside": 0.15, "upside": 0.15, "selected": 0.15, "ytd_actual_reference": null, "note": null }, { "row": 97, "type": "scenario_driver", "label": "Amazon refund administration fee (share of referral fee retained on refunds)", "unit": null, "base": 0.2, "downside": 0.2, "upside": 0.2, "selected": 0.2, "ytd_actual_reference": null, "note": null }, { "row": 98, "type": "scenario_driver", "label": "FBA fulfilment fee per unit", "unit": "EUR", "base": 5.4, "downside": 5.65, "upside": 5.35, "selected": 5.65, "ytd_actual_reference": 5.3255, "note": null }, { "row": 99, "type": "scenario_driver", "label": "FBA storage and other fees per unit sold (off-peak)", "unit": "EUR", "base": 0.58, "downside": 0.66, "upside": 0.55, "selected": 0.66, "ytd_actual_reference": 0.6237, "note": "Multiplied by the Oct to Dec peak factor on the Timeline" }, { "row": 100, "type": "scenario_driver", "label": "FBA inbound placement and freight per unit", "unit": "EUR", "base": 0.45, "downside": 0.5, "upside": 0.43, "selected": 0.5, "ytd_actual_reference": 0.4545, "note": null }, { "row": 101, "type": "scenario_driver", "label": "Walmart referral fee rate", "unit": null, "base": 0.15, "downside": 0.15, "upside": 0.15, "selected": 0.15, "ytd_actual_reference": null, "note": null }, { "row": 102, "type": "scenario_driver", "label": "Walmart WFS fulfilment fee per unit (USD)", "unit": "USD", "base": 6.25, "downside": 6.5, "upside": 6.15, "selected": 6.5, "ytd_actual_reference": 6.2763, "note": null }, { "row": 103, "type": "scenario_driver", "label": "Walmart WFS storage per unit sold (USD)", "unit": "USD", "base": 0.6, "downside": 0.66, "upside": 0.58, "selected": 0.66, "ytd_actual_reference": 0.5917, "note": null }, { "row": 104, "type": "scenario_driver", "label": "Shopify Payments fee rate (on VAT-inclusive amount charged)", "unit": null, "base": 0.019, "downside": 0.019, "upside": 0.019, "selected": 0.019, "ytd_actual_reference": null, "note": null }, { "row": 105, "type": "scenario_driver", "label": "Shopify Payments fixed fee per order", "unit": "EUR", "base": 0.25, "downside": 0.25, "upside": 0.25, "selected": 0.25, "ytd_actual_reference": null, "note": null }, { "row": 106, "type": "scenario_driver", "label": "Chargebacks and disputes as share of gross sales", "unit": null, "base": 0.0012, "downside": 0.002, "upside": 0.001, "selected": 0.002, "ytd_actual_reference": null, "note": null }, { "row": 107, "type": "scenario_driver", "label": "Carrier cost per Shopify order", "unit": "EUR", "base": 6.35, "downside": 6.8, "upside": 6.2, "selected": 6.8, "ytd_actual_reference": 6.3116, "note": "Downside includes a peak surcharge" }, { "row": 108, "type": "scenario_driver", "label": "3PL pick, pack and packaging per Shopify order", "unit": "EUR", "base": 3.8, "downside": 3.95, "upside": 3.75, "selected": 3.95, "ytd_actual_reference": 3.7766, "note": null }, { "row": 109, "type": "scenario_driver", "label": "Shopify paid media (Meta, Google) as share of net revenue", "unit": null, "base": 0.19, "downside": 0.23, "upside": 0.17, "selected": 0.23, "ytd_actual_reference": 0.1848, "note": null }, { "row": 110, "type": "scenario_driver", "label": "Amazon advertising as share of net revenue", "unit": null, "base": 0.095, "downside": 0.115, "upside": 0.085, "selected": 0.115, "ytd_actual_reference": 0.0942, "note": null }, { "row": 111, "type": "scenario_driver", "label": "Walmart Connect advertising as share of net revenue", "unit": null, "base": 0.12, "downside": 0.15, "upside": 0.1, "selected": 0.15, "ytd_actual_reference": 0.134, "note": null }, { "row": 112, "type": "scenario_driver", "label": "New customers as share of Shopify orders", "unit": null, "base": 0.6, "downside": 0.55, "upside": 0.62, "selected": 0.55, "ytd_actual_reference": 0.5903, "note": null }, { "row": 113, "type": "scenario_driver", "label": "Shopify Payments payout lag", "unit": "days", "base": 3, "downside": 3, "upside": 3, "selected": 3, "ytd_actual_reference": 3.1046, "note": null }, { "row": 114, "type": "scenario_driver", "label": "Amazon settlement cycle plus reserve", "unit": "days", "base": 21, "downside": 28, "upside": 21, "selected": 28, "ytd_actual_reference": 21.4346, "note": "14-day cycle plus roughly 7 days reserve; Downside assumes a larger reserve" }, { "row": 115, "type": "scenario_driver", "label": "Walmart settlement cycle plus reserve", "unit": "days", "base": 24, "downside": 30, "upside": 24, "selected": 30, "ytd_actual_reference": 24.5747, "note": null }, { "row": 116, "type": "scenario_driver", "label": "Inventory purchasing policy: target forward days of cover", "unit": "days", "base": 75, "downside": 65, "upside": 80, "selected": 65, "ytd_actual_reference": null, "note": "Uncommitted purchases sized to reach this cover on next month cost of goods" }, { "row": 117, "type": "scenario_driver", "label": "Discretionary opex factor (contractors, travel, content, recruitment)", "unit": "x", "base": 1, "downside": 0.9, "upside": 1.05, "selected": 0.9, "ytd_actual_reference": null, "note": null }, { "row": 118, "type": "scenario_driver", "label": "Planned hires proceed (1 = yes, 0 = frozen)", "unit": "flag", "base": 1, "downside": 0, "upside": 1, "selected": 0, "ytd_actual_reference": null, "note": null }, { "row": 119, "type": "scenario_driver", "label": "USD per EUR, forecast months", "unit": "rate", "base": 1.1, "downside": 1.16, "upside": 1.06, "selected": 1.16, "ytd_actual_reference": null, "note": "Actual months use the bank rate on the Timeline" } ], "purchase_orders": { "columns": [ "PO ref", "Supplier", "Category", "PO date", "Deposit %", "FOB value (EUR)", "Deposit (EUR)", "Deposit paid", "ETD (ship date)", "Balance (EUR)", "Balance paid", "ETA (arrival)", "Landed uplift", "Landed value (EUR)", "Status at last actual", "Deposit month", "ETD month", "ETA month" ], "rows": [ [ "PO-2025-041", "Foshan Crestware Manufacturing Co.", "Cookware", "2025-10-06", 0.3, 96000, 28800, "2025-10-06", "2025-12-08", 67200, "2025-12-08", "2026-01-22", 0.22, 117120, "Received", "2025-10-31", "2025-12-31", "2026-01-31" ], [ "PO-2025-044", "Chaozhou Terra Ceramics Co.", "Tableware", "2025-10-20", 0.3, 58000, 17400, "2025-10-20", "2025-12-15", 40600, "2025-12-15", "2026-01-30", 0.24, 71920, "Received", "2025-10-31", "2025-12-31", "2026-01-31" ], [ "PO-2025-047", "Yangjiang Edgeline Cutlery Ltd", "Knives", "2025-11-18", 0.3, 41000, 12300, "2025-11-18", "2026-01-20", 28700, "2026-01-20", "2026-03-05", 0.14, 46740, "Received", "2025-11-30", "2026-01-31", "2026-03-31" ], [ "PO-2025-049", "Ningbo Homeform Plastics Co.", "Storage", "2025-12-02", 0.3, 36000, 10800, "2025-12-02", "2026-02-10", 25200, "2026-02-10", "2026-03-28", 0.2, 43200, "Received", "2025-12-31", "2026-02-28", "2026-03-31" ], [ "PO-2026-003", "Guimaraes Textil Norte Lda", "Textiles", "2026-01-12", 0.5, 48000, 24000, "2026-01-12", "2026-02-20", 24000, "2026-02-20", "2026-02-27", 0.06, 50880, "Received", "2026-01-31", "2026-02-28", "2026-02-28" ], [ "PO-2026-007", "Foshan Crestware Manufacturing Co.", "Cookware", "2026-02-02", 0.3, 88000, 26400, "2026-02-02", "2026-04-06", 61600, "2026-04-06", "2026-05-22", 0.22, 107360, "Received", "2026-02-28", "2026-04-30", "2026-05-31" ], [ "PO-2026-011", "Chaozhou Terra Ceramics Co.", "Tableware", "2026-02-23", 0.3, 52000, 15600, "2026-02-23", "2026-04-20", 36400, "2026-04-20", "2026-06-05", 0.24, 64480, "Received", "2026-02-28", "2026-04-30", "2026-06-30" ], [ "PO-2026-014", "Guimaraes Textil Norte Lda", "Textiles", "2026-03-16", 0.5, 54000, 27000, "2026-03-16", "2026-04-24", 27000, "2026-04-24", "2026-05-01", 0.06, 57240, "Received", "2026-03-31", "2026-04-30", "2026-05-31" ], [ "PO-2026-018", "Yangjiang Edgeline Cutlery Ltd", "Knives", "2026-04-06", 0.3, 46000, 13800, "2026-04-06", "2026-06-08", 32200, "2026-06-08", "2026-07-24", 0.14, 52440, "Received", "2026-04-30", "2026-06-30", "2026-07-31" ], [ "PO-2026-022", "Ningbo Homeform Plastics Co.", "Storage", "2026-05-04", 0.3, 34000, 10200, "2026-05-04", "2026-07-06", 23800, "2026-07-06", "2026-08-20", 0.2, 40800, "Received", "2026-05-31", "2026-07-31", "2026-08-31" ], [ "PO-2026-024", "Foshan Crestware Manufacturing Co.", "Cookware", "2026-05-25", 0.3, 120000, 36000, "2026-05-25", "2026-07-27", 84000, "2026-07-27", "2026-09-11", 0.22, 146400, "In transit", "2026-05-31", "2026-07-31", "2026-09-30" ], [ "PO-2026-025", "Yangjiang Edgeline Cutlery Ltd", "Knives", "2026-06-01", 0.3, 38000, 11400, "2026-06-01", "2026-08-03", 26600, "2026-08-03", "2026-09-18", 0.14, 43320, "In transit", "2026-06-30", "2026-08-31", "2026-09-30" ], [ "PO-2026-026", "Foshan Crestware Manufacturing Co.", "Cookware", "2026-06-08", 0.3, 142000, 42600, "2026-06-08", "2026-09-04", 99400, "2026-09-04", "2026-10-19", 0.22, 173240, "Open: deposit paid", "2026-06-30", "2026-09-30", "2026-10-31" ], [ "PO-2026-029", "Chaozhou Terra Ceramics Co.", "Tableware", "2026-06-22", 0.3, 76000, 22800, "2026-06-22", "2026-08-24", 53200, "2026-08-24", "2026-10-09", 0.24, 94240, "In transit", "2026-06-30", "2026-08-31", "2026-10-31" ], [ "PO-2026-031", "Guimaraes Textil Norte Lda", "Textiles", "2026-07-13", 0.5, 68000, 34000, "2026-07-13", "2026-09-18", 34000, "2026-09-18", "2026-09-25", 0.06, 72080, "Open: deposit paid", "2026-07-31", "2026-09-30", "2026-09-30" ], [ "PO-2026-034", "Yangjiang Edgeline Cutlery Ltd", "Knives", "2026-07-27", 0.3, 62000, 18600, "2026-07-27", "2026-09-28", 43400, "2026-09-28", "2026-11-13", 0.14, 70680, "Open: deposit paid", "2026-07-31", "2026-09-30", "2026-11-30" ], [ "PO-2026-037", "Ningbo Homeform Plastics Co.", "Storage", "2026-08-17", 0.3, 28000, 8400, "2026-08-17", "2026-10-19", 19600, "2026-10-19", "2026-12-04", 0.2, 33600, "Open: deposit paid", "2026-08-31", "2026-10-31", "2026-12-31" ], [ "PO-2026-040", "Foshan Crestware Manufacturing Co.", "Cookware", "2026-09-21", 0.3, 98000, 29400, "2026-09-21", "2026-11-23", 68600, "2026-11-23", "2027-01-08", 0.22, 119560, "Planned", "2026-09-30", "2026-11-30", "2027-01-31" ], [ "PO-2026-043", "Chaozhou Terra Ceramics Co.", "Tableware", "2026-10-12", 0.3, 60000, 18000, "2026-10-12", "2026-12-14", 42000, "2026-12-14", "2027-01-29", 0.24, 74400, "Planned", "2026-10-31", "2026-12-31", "2027-01-31" ] ], "totals": { "fob": 1245000, "deposits": 407500, "balances": 837500, "landed": 1479700 }, "open_commitments": { "FOB value of open POs (EUR)": 692000, "of which deposits already paid (EUR)": 173800, "of which balances already paid on shipped POs (EUR)": 163800, "Cash still to pay on open POs (EUR)": 354400, "Landed value of open POs (EUR)": 827520 } }, "ar_aging": { "as_at": "2026-08-31", "items": [ { "counterparty": "Shopify International Ltd", "item": "Shopify Payments: payouts in transit, orders 29 to 31 Aug", "group": "Marketplace", "amount": 16197.84, "due_date": "2026-09-03", "days_past_due": 0, "not_due": 16197.84, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Settles daily; no action." }, { "counterparty": "Amazon EU S.a r.l.", "item": "Open settlement period 19 Aug to 1 Sep (unsettled balance)", "group": "Marketplace", "amount": 41262, "due_date": "2026-09-03", "days_past_due": 0, "not_due": 41262, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Settles on the 14-day cycle; reconcile the 1-Sep settlement report to the ledger." }, { "counterparty": "Amazon EU S.a r.l.", "item": "Reserve (unavailable balance, roughly 7 days)", "group": "Marketplace", "amount": 19648, "due_date": "2026-09-17", "days_past_due": 0, "not_due": 19648, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Ask account health for a reserve review after 90 days of clean metrics." }, { "counterparty": "Amazon EU S.a r.l.", "item": "A-to-z claims and refund adjustments under review", "group": "Marketplace", "amount": 4584.83, "due_date": "2026-09-30", "days_past_due": 0, "not_due": 4584.83, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Contest claims with tracking evidence within the 30-day window." }, { "counterparty": "Walmart.com (Walmart Marketplace)", "item": "Settlement cycle 18 to 31 Aug", "group": "Marketplace", "amount": 15928, "due_date": "2026-09-17", "days_past_due": 0, "not_due": 15928, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Biweekly cycle; convert at the settlement-date rate." }, { "counterparty": "Walmart.com (Walmart Marketplace)", "item": "Reserve (14-day new-seller hold)", "group": "Marketplace", "amount": 7495.85, "due_date": "2026-10-01", "days_past_due": 0, "not_due": 7495.85, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Hold expected to lapse after six months of clean performance." }, { "counterparty": "Amazon EU S.a r.l.", "item": "FBA lost and damaged inventory reimbursement claim, raised 15-Jul-26", "group": "Other", "amount": 4120, "due_date": "2026-07-15", "days_past_due": 47, "not_due": 0, "d1_30": 0, "d31_60": 4120, "d61_90": 0, "over_90": 0, "action": "46 days open: escalate through Seller Support; write off if unresolved by 31-Oct." }, { "counterparty": "Nationale Assuradeuren N.V.", "item": "Prepaid insurance, cover to Mar-27", "group": "Other", "amount": 9600, "due_date": "2027-03-31", "days_past_due": 0, "not_due": 9600, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Prepayment, released monthly; not a receivable." }, { "counterparty": "Amsterdam Werkplek B.V.", "item": "Office rent deposit", "group": "Other", "amount": 7780, "due_date": "2028-03-31", "days_past_due": 0, "not_due": 7780, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Refundable at lease end." } ], "totals": { "amount": 126616.52, "not_due": 122496.52, "d1_30": 0, "d31_60": 4120, "d61_90": 0, "over_90": 0 }, "tie_outs": [ { "label": "Marketplace and payment receivables: aging total vs balance sheet", "aging_total": 105116.52, "ledger": 105116.5236, "difference": 0 }, { "label": "Other receivables and prepaid expenses: aging total vs balance sheet", "aging_total": 21500, "ledger": 21500, "difference": 0 } ] }, "ap_aging": { "as_at": "2026-08-31", "items": [ { "counterparty": "Rotterdam Fulfilment Partners B.V.", "item": "Invoice RFP-2608: August pick, pack and packaging", "group": "Logistics", "amount": 9732, "due_date": "2026-09-30", "days_past_due": 0, "not_due": 9732, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "30-day terms; approved for the 25-Sep run." }, { "counterparty": "Benelux Parcel Services B.V.", "item": "August carrier invoice (parcels and returns)", "group": "Logistics", "amount": 12558, "due_date": "2026-09-25", "days_past_due": 0, "not_due": 12558, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Reconcile surcharge lines to the rate card before release." }, { "counterparty": "Northsea Freight Forwarding B.V.", "item": "FCL freight, duty and handling on PO-2026-022 (arrived 20-Aug)", "group": "Logistics", "amount": 7103.78, "due_date": "2026-09-19", "days_past_due": 0, "not_due": 7103.78, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Matches the landed cost posted on receipt." }, { "counterparty": "Northsea Freight Forwarding B.V.", "item": "Invoice NF-1177: disputed demurrage charge, June arrival", "group": "Logistics", "amount": 2000, "due_date": "2026-07-15", "days_past_due": 47, "not_due": 0, "d1_30": 0, "d31_60": 2000, "d61_90": 0, "over_90": 0, "action": "47 days overdue, disputed: forwarder failed to book the customs slot. Hold pending credit note." }, { "counterparty": "Meta Platforms Ireland Ltd", "item": "August advertising invoice", "group": "Paid media", "amount": 6571, "due_date": "2026-09-10", "days_past_due": 0, "not_due": 6571, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Reverse-charged VAT; pays on the 10th." }, { "counterparty": "Google Ireland Ltd", "item": "August advertising invoice", "group": "Paid media", "amount": 2816, "due_date": "2026-09-10", "days_past_due": 0, "not_due": 2816, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Reverse-charged VAT; pays on the 10th." }, { "counterparty": "Shopify International Ltd", "item": "August plan and apps", "group": "Other opex", "amount": 1490, "due_date": "2026-09-05", "days_past_due": 0, "not_due": 1490, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Card on file." }, { "counterparty": "Klaviyo, Gorgias and SaaS stack", "item": "August subscriptions", "group": "Other opex", "amount": 2660, "due_date": "2026-09-12", "days_past_due": 0, "not_due": 2660, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Reverse-charged VAT." }, { "counterparty": "Van der Berg Accountants B.V.", "item": "August accounting and payroll fee", "group": "Other opex", "amount": 3872, "due_date": "2026-09-25", "days_past_due": 0, "not_due": 3872, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": null }, { "counterparty": "SupportDesk Lisboa Lda", "item": "August customer service (per order)", "group": "Other opex", "amount": 4090, "due_date": "2026-09-30", "days_past_due": 0, "not_due": 4090, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Reverse-charged VAT." }, { "counterparty": "Studio Nordlicht B.V.", "item": "August content production", "group": "Other opex", "amount": 6050, "due_date": "2026-09-30", "days_past_due": 0, "not_due": 6050, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": null }, { "counterparty": "Amsterdam Werkplek B.V.", "item": "September rent, invoiced in advance", "group": "Other opex", "amount": 5808, "due_date": "2026-09-01", "days_past_due": 0, "not_due": 5808, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Paid 1-Sep." }, { "counterparty": "Nationale Assuradeuren N.V.", "item": "Q3 insurance instalment", "group": "Other opex", "amount": 3450, "due_date": "2026-09-15", "days_past_due": 0, "not_due": 3450, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "VAT-exempt." }, { "counterparty": "Sundry suppliers (11 invoices under EUR 1,000)", "item": "Office, travel, recruitment, other G&A", "group": "Other opex", "amount": 3798.5, "due_date": "2026-09-20", "days_past_due": 0, "not_due": 3798.5, "d1_30": 0, "d31_60": 0, "d61_90": 0, "over_90": 0, "action": "Per the AP ledger listing." } ], "totals": { "amount": 71999.28, "not_due": 69999.28, "d1_30": 0, "d31_60": 2000, "d61_90": 0, "over_90": 0 }, "tie_outs": [ { "label": "Logistics and fulfilment: aging total vs schedule", "aging_total": 31393.78, "ledger": 31393.7845, "difference": 0 }, { "label": "Paid media: aging total vs schedule", "aging_total": 9387, "ledger": 9387, "difference": 0 }, { "label": "Other opex: aging total vs schedule", "aging_total": 31218.5, "ledger": 31218.501, "difference": 0 } ] }, "bva": { "rows": [ { "key": "orders_S", "label": "Shopify EU (DTC): orders", "ytd_actual": 15614, "ytd_budget": 16560, "ytd_variance": -946, "ytd_variance_pct": -0.0571, "fy_outlook": 26896.0083, "fy_budget": 28221, "fy_variance": -1324.9917, "fy_variance_pct": -0.047, "commentary": null }, { "key": "orders_A", "label": "Amazon EU (FBA): orders", "ytd_actual": 18746, "ytd_budget": 19440, "ytd_variance": -694, "ytd_variance_pct": -0.0357, "fy_outlook": 32468.7012, "fy_budget": 33129, "fy_variance": -660.2988, "fy_variance_pct": -0.0199, "commentary": null }, { "key": "orders_W", "label": "Walmart US (WFS): orders", "ytd_actual": 3488, "ytd_budget": 5220, "ytd_variance": -1732, "ytd_variance_pct": -0.3318, "fy_outlook": 7206.2131, "fy_budget": 10770, "fy_variance": -3563.7869, "fy_variance_pct": -0.3309, "commentary": "Walmart ramp 33% behind the budgeted launch curve; go or no-go review at 900 orders a month." }, { "key": "rev_S", "label": "Shopify EU (DTC): net revenue", "ytd_actual": 1149062.11, "ytd_budget": 1225440, "ytd_variance": -76377.89, "ytd_variance_pct": -0.0623, "fy_outlook": 1939060.8845, "fy_budget": 2088354, "fy_variance": -149293.1155, "fy_variance_pct": -0.0715, "commentary": null }, { "key": "rev_A", "label": "Amazon EU (FBA): net revenue", "ytd_actual": 1043911.06, "ytd_budget": 1108080, "ytd_variance": -64168.94, "ytd_variance_pct": -0.0579, "fy_outlook": 1771554.2102, "fy_budget": 1888353, "fy_variance": -116798.7898, "fy_variance_pct": -0.0619, "commentary": null }, { "key": "rev_W", "label": "Walmart US (WFS): net revenue", "ytd_actual": 232757.1464, "ytd_budget": 287100, "ytd_variance": -54342.8536, "ytd_variance_pct": -0.1893, "fy_outlook": 450652.1004, "fy_budget": 592350, "fy_variance": -141697.8996, "fy_variance_pct": -0.2392, "commentary": null }, { "key": "T_net", "label": "NET REVENUE", "ytd_actual": 2425730.3164, "ytd_budget": 2620620, "ytd_variance": -194889.6836, "ytd_variance_pct": -0.0744, "fy_outlook": 4161267.1952, "fy_budget": 4569057, "fy_variance": -407789.8048, "fy_variance_pct": -0.0893, "commentary": "Volume effect EUR -212k, price and mix EUR 17k (bridge below)." }, { "key": "cogs", "label": "Cost of goods sold (incl. inventory adjustments)", "ytd_actual": -886793.5987, "ytd_budget": -982732.5, "ytd_variance": 95938.9013, "ytd_variance_pct": 0.0976, "fy_outlook": -1579377.2026, "fy_budget": -1713396.375, "fy_variance": 134019.1724, "fy_variance_pct": 0.0782, "commentary": null }, { "key": "gp", "label": "GROSS PROFIT", "ytd_actual": 1538936.7176, "ytd_budget": 1637887.5, "ytd_variance": -98950.7824, "ytd_variance_pct": -0.0604, "fy_outlook": 2581889.9926, "fy_budget": 2855660.625, "fy_variance": -273770.6324, "fy_variance_pct": -0.0959, "commentary": null }, { "key": "gm", "label": "Gross margin %", "ytd_actual": 0.6344, "ytd_budget": 0.625, "ytd_variance": 0.0094, "ytd_variance_pct": null, "fy_outlook": 0.6205, "fy_budget": 0.625, "fy_variance": -0.0045, "fy_variance_pct": null, "commentary": "Product margin 0.9 points better than budget: landed cost inflation below plan, recovery of returned stock included." }, { "key": "T_var", "label": "Variable channel costs", "ytd_actual": -549699.8366, "ytd_budget": -523227.6, "ytd_variance": -26472.2366, "ytd_variance_pct": -0.0506, "fy_outlook": -987080.5538, "fy_budget": -918468.81, "fy_variance": -68611.7438, "fy_variance_pct": -0.0747, "commentary": "Amazon fee changes and peak storage multiplier; 5.1% over budget on -7.4% revenue." }, { "key": "cm1", "label": "CONTRIBUTION BEFORE MARKETING (CM1)", "ytd_actual": 989236.8811, "ytd_budget": 1114659.9, "ytd_variance": -125423.0189, "ytd_variance_pct": -0.1125, "fy_outlook": 1594809.4389, "fy_budget": 1937191.815, "fy_variance": -342382.3761, "fy_variance_pct": -0.1767, "commentary": null }, { "key": "T_ads", "label": "Paid media", "ytd_actual": -341980.4561, "ytd_budget": -334092.6, "ytd_variance": -7887.8561, "ytd_variance_pct": -0.0236, "fy_outlook": -640043.3796, "fy_budget": -580688.685, "fy_variance": -59354.6946, "fy_variance_pct": -0.1022, "commentary": "Spend near budget, efficiency not: Shopify CAC EUR 21 in Jan vs EUR 26 at the last actual month." }, { "key": "cm2", "label": "CONTRIBUTION AFTER MARKETING (CM2)", "ytd_actual": 647256.425, "ytd_budget": 780567.3, "ytd_variance": -133310.875, "ytd_variance_pct": -0.1708, "fy_outlook": 954766.0593, "fy_budget": 1356503.13, "fy_variance": -401737.0707, "fy_variance_pct": -0.2962, "commentary": null }, { "key": "cm2pct", "label": "CM2 %", "ytd_actual": 0.2668, "ytd_budget": 0.2979, "ytd_variance": -0.031, "ytd_variance_pct": null, "fy_outlook": 0.2294, "fy_budget": 0.2969, "fy_variance": -0.0674, "fy_variance_pct": null, "commentary": "Gap of 3.1 points on full-year revenue is worth EUR 129k." }, { "key": "ox_salaries", "label": "Salaries and wages (incl. employer costs)", "ytd_actual": -369300, "ytd_budget": -369500, "ytd_variance": 200, "ytd_variance_pct": 0.0005, "fy_outlook": -564500, "fy_budget": -570300, "fy_variance": 5800, "fy_variance_pct": 0.0102, "commentary": null }, { "key": "ox_contractors", "label": "Contractors and freelancers", "ytd_actual": -39579, "ytd_budget": -36000, "ytd_variance": -3579, "ytd_variance_pct": -0.0994, "fy_outlook": -56859, "fy_budget": -54000, "fy_variance": -2859, "fy_variance_pct": -0.0529, "commentary": null }, { "key": "ox_rent", "label": "Rent and facilities", "ytd_actual": -38400, "ytd_budget": -38400, "ytd_variance": 0, "ytd_variance_pct": 0, "fy_outlook": -57600, "fy_budget": -57600, "fy_variance": 0, "fy_variance_pct": 0, "commentary": null }, { "key": "ox_software", "label": "Software, apps and platform subscriptions", "ytd_actual": -34004, "ytd_budget": -32000, "ytd_variance": -2004, "ytd_variance_pct": -0.0626, "fy_outlook": -51204, "fy_budget": -48000, "fy_variance": -3204, "fy_variance_pct": -0.0668, "commentary": null }, { "key": "ox_profees", "label": "Professional fees (finance, legal, audit)", "ytd_actual": -25670, "ytd_budget": -24000, "ytd_variance": -1670, "ytd_variance_pct": -0.0696, "fy_outlook": -38470, "fy_budget": -36000, "fy_variance": -2470, "fy_variance_pct": -0.0686, "commentary": null }, { "key": "ox_insurance", "label": "Insurance", "ytd_actual": -9200, "ytd_budget": -9200, "ytd_variance": 0, "ytd_variance_pct": 0, "fy_outlook": -13800, "fy_budget": -13800, "fy_variance": 0, "fy_variance_pct": 0, "commentary": null }, { "key": "ox_travel", "label": "Travel and entertainment", "ytd_actual": -10408, "ytd_budget": -9600, "ytd_variance": -808, "ytd_variance_pct": -0.0842, "fy_outlook": -15448, "fy_budget": -14400, "fy_variance": -1048, "fy_variance_pct": -0.0728, "commentary": null }, { "key": "ox_content", "label": "Content, creative and PR (non-media)", "ytd_actual": -47685, "ytd_budget": -40000, "ytd_variance": -7685, "ytd_variance_pct": -0.1921, "fy_outlook": -67485, "fy_budget": -60000, "fy_variance": -7485, "fy_variance_pct": -0.1247, "commentary": "Discretionary overrun of EUR 7.7k; no approval owner until the September action." }, { "key": "ox_custserv", "label": "Customer service (outsourced, per order)", "ytd_actual": -27006, "ytd_budget": -26793, "ytd_variance": -213, "ytd_variance_pct": -0.0079, "fy_outlook": -47112.0458, "fy_budget": -46878, "fy_variance": -234.0458, "fy_variance_pct": -0.005, "commentary": null }, { "key": "ox_office", "label": "Office and other G&A", "ytd_actual": -14120, "ytd_budget": -12800, "ytd_variance": -1320, "ytd_variance_pct": -0.1031, "fy_outlook": -21320, "fy_budget": -19200, "fy_variance": -2120, "fy_variance_pct": -0.1104, "commentary": null }, { "key": "ox_bank", "label": "Bank charges and FX costs", "ytd_actual": -3719, "ytd_budget": -3930.93, "ytd_variance": 211.93, "ytd_variance_pct": 0.0539, "fy_outlook": -6322.3053, "fy_budget": -6853.5855, "fy_variance": 531.2802, "fy_variance_pct": 0.0775, "commentary": null }, { "key": "ox_recruit", "label": "Recruitment and training", "ytd_actual": -8270, "ytd_budget": -5600, "ytd_variance": -2670, "ytd_variance_pct": -0.4768, "fy_outlook": -11510, "fy_budget": -8400, "fy_variance": -3110, "fy_variance_pct": -0.3702, "commentary": "Two unbudgeted searches; EUR 2.7k over." }, { "key": "T_opex", "label": "TOTAL OPERATING EXPENSES", "ytd_actual": -627361, "ytd_budget": -607823.93, "ytd_variance": -19537.07, "ytd_variance_pct": -0.0321, "fy_outlook": -951630.3511, "fy_budget": -935431.5855, "fy_variance": -16198.7656, "fy_variance_pct": -0.0173, "commentary": null }, { "key": "ebitda", "label": "EBITDA", "ytd_actual": 19895.425, "ytd_budget": 172743.37, "ytd_variance": -152847.945, "ytd_variance_pct": -0.8848, "fy_outlook": 3135.7081, "fy_budget": 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41483.3333, "tolerance": 0, "status": "OK" }, { "check": "Term loan balance never negative", "proves": "Principal is capped at the balance", "value": 214925.5183, "tolerance": 0, "status": "OK" }, { "check": "Timeline: months flagged actual equal the last actual month index", "proves": "Actual and forecast flags are consistent", "value": 0, "tolerance": 0.5, "status": "OK" } ], "business_warnings": [ { "item": "Lowest month-end cash in the forecast (selected scenario)", "note": "Below the buffer means a facility draw or action is needed", "value": -214906.6863 }, { "item": "Lowest 13-week closing cash", "note": null, "value": 230156.3614 }, { "item": "Highest days of inventory on hand in the forecast", "note": "Over 150 days signals overstock", "value": 126.4531 }, { "item": "Amazon share of FY2026 net revenue", "note": "Concentration above 50% is a dependency risk", "value": 0.4257 } ] }, "cfo_report": { "reporting_line": "Reporting month: Aug-26 actuals, Downside scenario for the outlook. Amounts in EUR. Every figure in this report is a live link to the model; the narrative recalculates with the inputs.", "sections": [ { "title": "1. HEADLINE", "paragraphs": [ "Year to date net revenue is EUR 2,426k, 7.4% below budget (EUR 195k). Gross margin held at 63.4% against a budget of 62.5%, so the shortfall sits entirely in volume and in the cost of selling: contribution after marketing is EUR 647k, 17.1% below budget, and EBITDA is EUR 20k against EUR 173k budgeted.", "Full-year outlook (actual plus Downside forecast): net revenue EUR 4,161k (-8.9% vs budget), EBITDA EUR 3k (0.1% of revenue) and net profit EUR -56k. Cash closes December at EUR 486k, of which EUR 221k is the Q4 VAT that leaves in January, so the underlying year-end position is EUR 265k.", "Cash is safe through the 13-week window: the low point is EUR 230k in the week ending 06-Nov, EUR 80k above the EUR 150k buffer, with the revolving facility undrawn.", "Looking further out, the Downside case bottoms at EUR -215k in Oct-27, EUR 365k short of the buffer. That trough is the FY2027 peak-season inventory build; it is a financing question to settle by mid 2027, not a solvency question today." ], "rows": [] }, { "title": "2. WHAT HAPPENED YEAR TO DATE (figures from BvA and Channel_PL)", "paragraphs": [ "Volume, not price, explains the revenue miss. Units were 46,694 against 50,976 budgeted, a volume shortfall worth EUR 212k of revenue, partly offset by EUR 17k of price and mix. Walmart is the largest gap: 3,488 orders against 5,220 budgeted (-33%), a EUR 54k revenue shortfall on a channel launched with a ramp the budget assumed would be twice as fast.", "Shopify orders are -5.7% vs budget and Amazon -3.6%. Blended net revenue per order is EUR 62.51, in line with budget, and the refund rate is 7.7% of gross sales; the Textiles quality issue in Q2 is visible in the Shopify refund line and is the reason the refund driver on Assumptions carries a higher reference than the budget did.", "Cost of selling is the second problem. Variable channel costs (payment, referral, fulfilment, storage and inbound) were EUR 550k, 5.1% over budget, driven by Amazon FBA fee changes and the peak storage multiplier. Paid media of EUR 342k is close to budget in total, but its efficiency is not: Shopify paid CAC moved from EUR 21 in January to EUR 26 in August, and Shopify ROAS from 5.9x to 5.0x. Contribution margin after marketing is 26.7% against a 29.8% budget: that 3.1 point gap on the full-year revenue is EUR 129k of profit.", "Operating expenses are EUR 627k, 3.2% over budget. Salaries are on plan; the overrun is discretionary: content and creative EUR 8k over (19%), recruitment EUR 3k over, contractors EUR 4k over. None of these lines has an approval owner today; the action list fixes that." ], "rows": [] }, { "title": "3. CASH, WORKING CAPITAL AND THE 13 WEEKS", "paragraphs": [ "Cash at Aug-26 is EUR 391k against a budgeted EUR 438k. Inventory on hand is EUR 383k (97 days), EUR 137k below budget, because the business ran stock down after a weak Q2 rather than because it bought well. The cash conversion cycle is 77 days (DIO 97, DSO 11, DPO 31).", "The 13-week forecast starts from EUR 351k and ends the week of 11-Dec at EUR 434k. Receipts of EUR 1,134k are set against payments of EUR 1,052k, of which committed purchase orders EUR 213k and the Q3 VAT and OSS payment EUR 147k on 31-Oct, which is what produces the low point in the following week. The forecast reconciles to the December balance sheet to the euro (Checks).", "Inventory is unbalanced rather than short. At the last actual month Cookware carried 23 days of cover and Knives 52, against Tableware at 208 days and Storage at 302. The register shows EUR 692k FOB of open orders with EUR 354k of cash still to pay; the two Cookware orders arriving in September and October cover peak, and the Tableware order placed for January should be cut or deferred while the slow-moving provision stands at EUR 7k.", "Receivables are clean apart from two items: an Amazon FBA reimbursement claim of EUR 4,120 open 47 days and a disputed forwarder invoice of EUR 2,000 (47 days past due) on the payables side. Marketplace balances of EUR 105k are 11 days of settlements, in line with the platform cycles." ], "rows": [] }, { "title": "4. SCENARIOS (Scenarios sheet; snapshot values from three full model runs)", "paragraphs": [ "Base: FY2027 net revenue EUR 5,611k, EBITDA EUR 239k (4.3%), lowest cash EUR 2k. Downside: revenue EUR 4,478k, EBITDA EUR -263k, lowest cash EUR -215k, a funding need of EUR 365k against the buffer. Upside: revenue EUR 6,376k, EBITDA EUR 677k, lowest cash EUR 172k.", "The downside is the case that matters for the board: it combines slower growth, higher discounting and refunds, a heavier paid-media load and the current inventory policy, and it exhausts cash in the FY2027 peak build. The contingency plan is written now, with triggers on the monthly KPIs (CM2 % below 24.8% for two months, or Shopify CAC above EUR 30), not when the trough arrives." ], "rows": [] }, { "title": "5. RISK REGISTER (scored 1 to 5; score = likelihood x impact)", "paragraphs": [], "rows": [ [ "FY2027 peak-season funding gap: the Base case falls below the cash buffer in Oct-27 and the downside turns cash negative", 4, 4, 16, "Arrange a EUR 250k inventory facility or supplier terms of 60 days with Foshan by Jun-27; CEO and BriQs CFO" ], [ "Amazon dependency: Amazon is 43% of FY2026 net revenue and holds a settlement reserve; an account health event stops both revenue and cash", 3, 5, 15, "Keep account health metrics above thresholds weekly, hold 14 days of Amazon settlements as buffer, grow Shopify share; Head of Ecommerce" ], [ "Cookware stock-out in Q4: cover fell to 23 days at the last actual month; peak depends on two POs arriving in Sep and Oct", 3, 4, 12, "Track PO-2026-024 and PO-2026-026 weekly against ETA; air-freight option priced now; Operations and Supply Chain Manager" ], [ "Overstock in Tableware and Storage: over 200 days of cover ties up cash and drives the slow-moving provision", 4, 3, 12, "Freeze new Tableware and Storage orders, run a Q4 bundle promotion, defer PO-2026-043; Head of Ecommerce" ], [ "Paid media efficiency: Shopify CAC up 25% since January; the budget assumed flat CAC", 4, 3, 12, "Weekly CAC and ROAS by campaign, cap Meta spend at the CM2 breakeven CAC, shift budget to email and retention; Performance Marketing Manager" ], [ "Walmart ramp: orders one third below budget; fixed WFS costs and ads spend do not scale down automatically", 4, 2, 8, "Set a Q4 go or no-go at 900 orders a month; cut Walmart Connect spend to a 15% share until velocity proves out; Marketplace Specialist" ], [ "USD exposure: Walmart revenue in USD with EUR costs; a 5% move is worth about EUR 31k of FY2027 revenue", 3, 2, 6, "No hedge below EUR 1m of USD revenue; review quarterly; BriQs CFO" ], [ "Supplier concentration: Foshan Crestware is 44% of committed FOB value and the only cookware source", 2, 4, 8, "Qualify a second cookware supplier in Q1 FY2027; Operations and Supply Chain Manager" ], [ "VAT and OSS compliance: quarterly payables reach EUR 221k in December; late filing penalties and interest apply", 2, 3, 6, "Reconcile VAT to the settlement reports monthly, not just at filing; BriQs finance team" ], [ "Disputed forwarder invoice and open Amazon reimbursement claim: small amounts, but both show control gaps in three-way matching", 3, 1, 3, "Close both by 31-Oct; add PO-to-invoice matching for freight; BriQs finance team" ] ], "columns": [ "Risk", "Likelihood", "Impact", "Score", "Mitigation and owner" ] }, { "title": "6. ACTIONS (owner, due date, status)", "paragraphs": [], "rows": [ [ "Term sheet for a EUR 250k inventory facility (or 60-day terms with Foshan Crestware) so the FY2027 peak build is funded without breaching the buffer", "CEO", "2027-03-31", "Open", "Signed facility or amended supplier terms before the Jun-27 deposits" ], [ "Cut Tableware and Storage purchasing: cancel or defer PO-2026-043 and run a Q4 bundle promotion to bring both categories under 120 days of cover by Dec-26", "Head of Ecommerce", "2026-10-15", "Open", "DIO under 120 days on the Product_Contribution scorecard" ], [ "Weekly Q4 stock watch on Cookware and Knives against PO-2026-024, 025, 026 and 034 ETAs, with an air-freight fallback priced by 30-Sep", "Operations and Supply Chain Manager", "2026-09-30", "In progress", "Cover never below 30 days through December" ], [ "Paid media rules: Meta and Google capped at the CM2 breakeven CAC by campaign, weekly CAC and ROAS reporting, 10% of budget moved to retention", "Performance Marketing Manager", "2026-10-01", "Open", "Shopify CAC back under EUR 23 by Nov-26" ], [ "Walmart go or no-go review at 900 orders a month; until then Walmart Connect spend capped at 12% of net revenue", "Marketplace Specialist", "2026-11-15", "Open", "Decision minuted with the Q4 trading numbers" ], [ "Approval owner and monthly cap on content, recruitment and contractor spend; over-cap requests to the CEO in writing", "CEO", "2026-09-30", "Open", "Opex variance on those three lines at zero from October" ], [ "Close the Amazon FBA reimbursement claim (EUR 4,120) and the disputed Northsea invoice (EUR 2,000); add freight invoice matching to the AP checklist", "BriQs finance team", "2026-10-31", "In progress", "Both items off the aging, checklist updated" ], [ "Downside contingency plan written with KPI triggers (CM2 %, CAC, cash headroom) and the five cash levers on Cash_13W in priority order", "BriQs CFO", "2026-10-15", "Open", "Plan approved by the CEO and attached to the October pack" ], [ "Qualify a second cookware supplier and obtain samples; target 30% of FY2027 Cookware FOB", "Operations and Supply Chain Manager", "2027-02-28", "Open", "Supplier qualified with a first PO placed" ] ], "columns": [ "Action", "Owner", "Due", "Status", "Measure of done" ] }, { "title": "7. INFORMATION NEEDED BEFORE THE OCTOBER PACK", "paragraphs": [ "Amazon Date Range Reports and Walmart Payment reports for September, so fees and reserves are taken from the platform rather than from ratios.", "Returns report by reason code for Textiles, to confirm whether the Q2 quality issue is closed or still running in the refund rate.", "Confirmation from Foshan Crestware of the shipped date and container number for PO-2026-026, and a quote for a 40% air-freight split if the ETA slips past 25-Oct.", "The September bank statements and AP ledger listing at 30-Sep, to replace the payment sizing in the 13-week to-date column with actuals.", "The signed facility term sheet or the amended supplier terms, whichever the CEO chooses, so the FY2027 forecast carries the real cost of funding.", "Prepared by BriQs Group for the owners of Alderway Home B.V. (fictional demonstration company). Model status at the time of preparation: OK." ], "rows": [] } ] }, "product_scorecard": [ { "category": "Cookware", "ytd_net_revenue": 972613.6666, "fy26_net_revenue": 1668950.7148, "ytd_cm2": 243882.5863, "fy26_cm2": 360676.3059, "ytd_cm2_pct": 0.2507, "fy26_cm2_pct": 0.2161, "dio_last_actual": 23.4995, "dio_dec26": 41.0583 }, { "category": "Knives", "ytd_net_revenue": 482631.8371, "fy26_net_revenue": 832149.4204, "ytd_cm2": 144360.1041, "fy26_cm2": 223025.595, "ytd_cm2_pct": 0.2991, "fy26_cm2_pct": 0.268, "dio_last_actual": 52.4111, "dio_dec26": 41.0533 }, { "category": "Textiles", "ytd_net_revenue": 448075.4476, "fy26_net_revenue": 757618.3772, "ytd_cm2": 124786.7759, "fy26_cm2": 184540.0661, "ytd_cm2_pct": 0.2785, "fy26_cm2_pct": 0.2436, "dio_last_actual": 121.5862, "dio_dec26": 41.0295 }, { "category": "Tableware", "ytd_net_revenue": 334261.9711, "fy26_net_revenue": 579605.12, "ytd_cm2": 79839.268, "fy26_cm2": 118587.6836, "ytd_cm2_pct": 0.2389, "fy26_cm2_pct": 0.2046, "dio_last_actual": 208.0788, "dio_dec26": 120.8934 }, { "category": "Storage", "ytd_net_revenue": 188147.3939, "fy26_net_revenue": 322943.5628, "ytd_cm2": 42074.4193, "fy26_cm2": 60422.5776, "ytd_cm2_pct": 0.2236, "fy26_cm2_pct": 0.1871, "dio_last_actual": 302.1986, "dio_dec26": 139.2454 } ] } }