# Alderway Home B.V. (fictional): Ecommerce Finance Pack, model guide and validation

Prepared by BriQs Group as a demonstration of an outsourced finance department pack for an ecommerce business selling on Shopify EU, Amazon EU FBA and Walmart US WFS. **Everything in the pack is fictional**: the company, the people, the suppliers, the invoices and every number. Nothing describes a real client.

Workbook: `Alderway_Home_BV_Ecommerce_Finance_Pack_Aug26_FICTIONAL.xlsx` (27 sheets, 21,994 formulas). Reporting month Aug-26 (eight actual months), forecast Sep-26 to Dec-27. Currency EUR; Walmart inputs in USD converted at the monthly rate on the Timeline. Generated 13 September 2026.

## Validation results

The workbook was recalculated with LibreOffice under each of the three scenarios (Assumptions!C11 set to 1, 2 and 3). Results:

| Scenario | Formula errors | Integrity checks | Overall status |
|---|---|---|---|
| Base | 0 | 26 of 26 OK | OK |
| Downside | 0 | 26 of 26 OK | OK |
| Upside | 0 | 26 of 26 OK | OK |

The 26 checks on the Checks sheet, all live formulas:

- Balance sheet balances in every month: value 0.00, OK
- Cash flow: indirect method equals direct method in every month: value 0.00, OK
- Closing cash on the cash flow equals balance sheet cash: value 0.00, OK
- Retained earnings roll: closing equals opening plus cumulative profit less dividends: value 0.00, OK
- EBITDA on the cash flow equals EBITDA on the P&L: value 0.00, OK
- Opening balance sheet balances: value 0.00, OK
- Product contribution: sum of categories equals channel net revenue: value 0.00, OK
- Product contribution: sum of categories equals channel CM2: value 0.00, OK
- Volume engine: category units equal channel units: value 0.00, OK
- AR aging: marketplace receivables tie to the balance sheet: value 0.00, OK
- AR aging: other receivables tie to the balance sheet: value 0.00, OK
- AP aging: logistics group ties to the AP schedule: value 0.00, OK
- AP aging: paid media group ties to the AP schedule: value 0.00, OK
- AP aging: other opex group ties to the AP schedule: value 0.00, OK
- PO register: deposits on unshipped POs equal supplier deposits at the last actual month: value 0.00, OK
- PO register: FOB value of shipped, unarrived POs equals inventory in transit at the last actual month: value 0.00, OK
- 13-week cash forecast reconciles to the monthly balance sheet at 31-Dec-26: value 0.00, OK
- Scenario snapshots are current for the selected scenario: value 0.00, OK
- Budget vs actual revenue bridge reconciles to the P&L variance: value 0.00, OK
- Inventory on hand by category never negative: value 26,146.65, OK
- Marketplace receivables never negative: value 6,395.16, OK
- Trade payables never negative: value 62,533.27, OK
- Fixed asset net book value never negative: value 41,483.33, OK
- Term loan balance never negative: value 214,925.52, OK
- Timeline: months flagged actual equal the last actual month index: value 0.00, OK

What the checks prove: the balance sheet balances in all 24 months; the indirect cash flow equals a direct build of every schedule cash line to the cent; retained earnings and EBITDA roll; product contribution ties to channel contribution; both agings tie to the ledger; the purchase order register supports the deposits and in-transit balances on the balance sheet; the 13-week cash forecast reconciles to the December balance sheet; the scenario snapshots match the live model; the revenue bridge ties to the P&L variance; and no balance goes negative.

## What the pack contains

- **Cover, Guide, Checks**: Front page with model status and key figures, model map and procedures, integrity checks with live status
- **CFO_Report**: Quantified findings with every number as a live link, risk register scored likelihood x impact, actions with owner, due date and measure of done, information needed
- **KPIs**: Growth, margin, commercial (AOV, refund rate, MER, ROAS, CAC, Amazon concentration), working capital (DIO, DSO, DPO, cash conversion cycle), cash headroom and runway, people; three charts
- **PL, BS, CF**: Monthly three-statement pack with FY totals; balance sheet check row; indirect cash flow reconciled to direct method
- **BvA**: YTD and full-year outlook vs the original FY26 budget, with commentary and a revenue bridge (volume vs price and mix) by channel
- **Scenarios**: Base, Downside and Upside side by side (snapshot values from three full runs), live selected column with check, and the driver set
- **Cash_13W**: 13-week direct cash forecast from Sep-26 to-date, phasing rules per line (calendar days, settlement dates, 1st, 15th, 25th, month end, VAT date, register due dates), buffer control, levers, reconciliation to the monthly model
- **Channel_PL**: Gross sales to CM1 and CM2 per channel with channel KPIs
- **Product_Contribution**: Category economics with allocation keys, tie-outs and a scorecard
- **Settlements**: Gross-to-payout bridge per platform, receivable roll, days outstanding, refund liability
- **Inventory, Purchase_Orders**: On-hand roll by category, committed and policy receipts, in transit, supplier deposits, write-offs, slow-moving provision, PO register with status and open commitments
- **AR_Aging, AP_Aging**: Item-level agings at Aug-26 with buckets, actions and tie-outs
- **AP_Schedule, VAT, Opex, Fixed_Assets, Debt**: Payables by supplier group with DPO; output, input and payable VAT with Article 23 memo; headcount table and opex; fixed asset classes; annuity loan with current and non-current split
- **Volume_Price, Assumptions, Inputs_Actuals, Budget_FY26**: Bottom-up volume and price engine; scalars, timeline and scenario drivers with a YTD actual reference column; actual inputs and opening balances; the original budget

## How the model works

1. Actual months are typed once, on Inputs_Actuals. Every monthly sheet carries an A or F flag in row 5 and the standard switch `=IF(flag="A", input, driver)`. Adding a month means pasting inputs and changing one cell (last actual month on Assumptions).
2. Forecast volumes are bottom-up: a deseasonalised run-rate from the latest actual months, times seasonality, times the scenario growth rate, split into categories by the latest mix. Prices and landed unit costs roll forward at scenario rates.
3. Costs are driver-based per channel (payment and referral fees, FBA and WFS fees, storage with a peak multiplier, carrier and 3PL per order, paid media as a share of revenue) and restated by category through allocation keys that tie back to the channel totals.
4. Working capital is built from schedules rather than ratios: receivables from settlement lags per platform, inventory from a days-of-cover purchasing policy layered on the committed PO register (deposits and balances on register dates for committed orders, lead-time phasing for uncommitted ones), payables by supplier group, VAT quarterly, payroll taxes monthly, corporate tax on cumulative profit at the two Dutch brackets.
5. The cash flow statement is built indirectly and then rebuilt directly from the cash line of each schedule; the two must agree every month, which is what catches a missing cash line.
6. The 13-week forecast phases the monthly model amounts into weeks with an explicit rule per line and reconciles its week-13 cash plus the remaining December flows back to the December balance sheet.

## Headline results (Base scenario)

- FY2026 outlook: net revenue EUR 4,311k, gross margin 62.9%, CM2 EUR 1,110k (25.8%), EBITDA EUR 136k (3.2%), net profit EUR 63k
- FY2027: net revenue EUR 5,611k, EBITDA EUR 239k (4.3%)
- Cash: EUR 611k at Dec-26 (of which EUR 242k Q4 VAT paid in January), lowest month-end cash EUR 2k in Oct-27, a funding need of EUR 148k against the EUR 150k buffer at the FY2027 peak build
- 13-week cash: low point EUR 290k in the week ending 2026-11-06, EUR 140k above the buffer, revolver undrawn
- Downside: FY2027 EBITDA EUR -263k, lowest cash EUR -215k. Upside: FY2027 EBITDA EUR 677k, lowest cash EUR 172k

## JSON files for the website

One file per scenario plus a summary, all evaluated values (no formulas):

- `..._Base.json`, `..._Downside.json`, `..._Upside.json`: `meta` (company, as-at, scenario, validation status), `timeline` (24 month ends, A/F flags, financial year), `sheets` (every monthly sheet as keyed rows with label, basis, section, format, 24 monthly values and FY totals) and `tables` (assumptions and drivers, purchase orders, AR and AP agings, BvA with bridge, scenarios, 13-week cash with weekly and monthly values, checks, CFO report sections, product scorecard)
- `..._Summary.json`: the scenario table, checks, BvA, 13-week control, product scorecard, CFO report and the headline monthly series for a summary page
- Conventions: `pct` values are ratios (0.25 = 25%); costs are negative where the sheet shows them negative; dates are ISO strings

## Simplifications and what a client build replaces

- Forecast payouts, supplier payments and VAT settlement are sized by lag and DPO assumptions; actual months use bank figures.
- Category allocation of discounts, refunds, fees and paid media uses gross sales share; a client build uses SKU-level fee reports and campaign attribution.
- Unit costs roll forward from the last actual month at a cost inflation driver; a client build takes weighted average cost from the inventory sub-ledger.
- Uncommitted purchases beyond the horizon are assumed equal to the last modelled month for lead-time phasing.
- Corporate income tax accrues on cumulative profit at the two NL brackets with no deferred tax; the budget uses a flat 19%.
- Inventory location shares (FBA, WFS, 3PL) are memo assumptions.
- The information-needed list on the Guide sheet and in section 7 of the CFO report names the source documents that convert each simplification into a fact.

## Conventions

Blue on yellow = input, black = formula, green = link from another sheet. Revenue and receipts positive; costs, payments and deductions negative on the P&L, channel and settlement sheets. No hard-coded numbers inside formulas: constants live on Assumptions, Inputs_Actuals, Budget_FY26 or labelled helper cells. Arial throughout; BriQs colours; fit for print in landscape.