# Selmberg Consulting GmbH: professional services finance pack, model guide

FICTIONAL DEMONSTRATION. Selmberg Consulting GmbH, its clients, engagements, suppliers, staff, invoices and every number in this pack are invented by BriQs Group to show the structure, depth and controls of a monthly finance pack. Tax, social security and filing rules are real and sourced below.

## 1. What the pack is

A founder-led management consultancy in Munich (GmbH) with three practices: operations and supply chain, finance and performance, and digital and ERP. About 40 people, 32 of them fee earners in five grades from partner to consultant, serving German Mittelstand manufacturers plus one Austrian and one Swiss client, all invoiced in EUR. Fee types: fixed fee, time and materials, and capped fee. Actuals Jan-26 to Aug-26, forecast Sep-26 to Dec-27, three scenarios.

| File | What it is |
|---|---|
| Selmberg_Consulting_Professional_Services_Finance_Pack_Aug26_FICTIONAL.xlsx | Editable workbook, 33 sheets, 41,071 formulas, recalculated with cached values (Base selected) |
| Selmberg_Consulting_Professional_Services_Finance_Pack_Aug26_FICTIONAL_Base.json | Every monthly sheet as keyed rows plus all tables, evaluated under the Base scenario |
| Selmberg_Consulting_Professional_Services_Finance_Pack_Aug26_FICTIONAL_Downside.json | Every monthly sheet as keyed rows plus all tables, evaluated under the Downside scenario |
| Selmberg_Consulting_Professional_Services_Finance_Pack_Aug26_FICTIONAL_Upside.json | Every monthly sheet as keyed rows plus all tables, evaluated under the Upside scenario |
| Selmberg_Consulting_Professional_Services_Finance_Pack_Aug26_FICTIONAL_Summary.json | Web-sized summary: scenarios, checks, budget vs actual, 13-week control, engagement review, concentration, sales record, CFO report, headline series |
| Selmberg_Consulting_Professional_Services_Finance_Pack_Aug26_FICTIONAL_Model_Guide.md | This guide |

## 2. Validation results

Each scenario was set on Assumptions!C11, recalculated in LibreOffice and read back.

| Scenario | Formulas | Formula errors | Integrity checks passing | Overall status |
|---|---|---|---|---|
| Base | 41,071 | 0 | 39 of 39 | OK |
| Downside | 41,071 | 0 | 39 of 39 | OK |
| Upside | 41,071 | 0 | 39 of 39 | OK |

The checks prove: the balance sheet balances every month; the indirect cash flow equals a direct build of every schedule cash line every month; closing cash, EBITDA and retained earnings link and roll; the opening balance sheet balances; fixed-fee and capped revenue in the actual months equals the contract method; hours by practice and grade equal the hours booked to engagements and every staffing mix sums to 100%; milestones sum to 100%, % complete stays between 0% and 100%, fixed fees are fully invoiced by completion and capped work is never invoiced above the cap; client and practice revenue equal the P&L, practice contributions equal gross profit and allocated practice profits equal EBITDA; the time-to-cash waterfall is complete; the VAT balance reflects the one-month extension and the special prepayment; the FY2026 and FY2027 tax charges equal the statutory rates on the annual taxable profit; every AR and AP aging group ties to the ledger; the 13-week forecast reconciles to the December balance sheet; the scenario snapshot is current; the budget bridge and EBITDA walk reconcile; and sign checks cover receivables, payables, subcontractor hours, headcount, provisions, fixed assets, the loan and the timeline flags. A final sweep found no em dashes, en dashes or unfinished text in the workbook, the JSON files or this guide.

## 3. What the numbers say (Base)

| Measure | Value |
|---|---|
| YTD Aug-26 revenue vs budget | EUR 4,704k against EUR 4,985k; variance (5.6%) |
| YTD EBITDA vs budget | EUR 252k (5.4% of revenue) against EUR 681k (13.7%) |
| FY2026 revenue, EBITDA, net profit | EUR 7,664k, EUR 913k (11.9%), EUR 529k |
| FY2027 revenue, EBITDA | EUR 8,139k, EUR 982k (12.1%); 86.4% of FY2027 fee revenue not yet won |
| Utilisation and realisation, YTD | 68.3% of available hours against a 73.8% target; fee revenue 88.5% of standard value at the rate card |
| Lock-up at Aug-26 | 62 days: 19 days of unbilled work and 43 debtor days |
| Largest client and top five, FY2026 | Eberstal 26.2% of revenue; top five 66.1% |
| 13-week low | EUR 692k in the week ending 30 Oct 2026 |
| Lowest forecast month-end cash | EUR 704k in Oct-26: EUR 104k above the EUR 600k buffer |

| Scenario (negatives in brackets) | FY2027 revenue | FY2027 EBITDA | Lowest month-end cash |
|---|---|---|---|
| Base | EUR 8,139k | EUR 982k; margin 12.1% | EUR 704k |
| Downside | EUR 5,365k | (EUR 459k); margin (8.5%) | EUR 253k |
| Upside | EUR 9,576k | EUR 2,158k; margin 22.5% | EUR 707k |

The story: revenue is close to budget but profit is not. Digital sold too little new work in the first half, a client went insolvent in July, subcontractors covered the spring peak and two vacancies, and the Norlach cap turned overrun hours into write-downs. Utilisation of 68% sits below target mainly at partner and director level, so demand, not capacity, is the constraint. The Base outlook recovers on signed work but needs utilisation back at the spring level. FY2027 depends on selling: most of the year is not yet won and the Eberstal wave 2 proposal is the largest swing; the Downside (an industrial recession) turns FY2027 into a loss even after a hiring freeze, five separations and no dividend, and cash falls to EUR 253k by December 2027, below the buffer with the overdraft still undrawn.

## 4. How the model works

Inputs_Actuals holds the actual months and the opening balance sheet. Engagement_Register holds each engagement (fee type, fee or cap, budget hours, staffing profile, discount, write-down, travel terms, dates, win probabilities by scenario, opening positions); Client_Register holds VAT class, collection days and opening receivables. Assumptions holds tax and payroll rates, grades (rate card, salary, bonus target, target utilisation, subcontractor cost), staffing profiles, the Munich holiday list, the timeline and the scenario drivers (selector in C11). Engagements turns hours into standard value, value at agreed rates, revenue by fee type, invoices, travel and the contract position of every engagement. Capacity turns engagement hours into demand by practice and grade, compares it with available hours after holidays, sickness and training, and buys the excess from subcontractors. People runs hires, attrition, replacements, payroll with social security at the ceilings of the year, wage tax and the bonus provision. Clients, Receivables, Overheads, Payables, VAT, Tax, Fixed_Assets and Financing roll every flow and balance. PL, BS and CF link only to schedules. BvA, Practices, Time_to_Cash, Engagement_Review, Pipeline, KPIs, Scenarios, Cash_13W, the agings and CFO_Report are reporting layers.

## 5. Methods a professional services CFO will look for

| Area | Treatment |
|---|---|
| Fixed fee | Over time (IFRS 15.35), progress on hours (input method, IFRS 15.B18 to B19); invoiced 30% at start, 40% at the mid-point, 30% on acceptance; overruns by scenario lower the % complete and appear as fixed-fee write-downs. |
| Time and materials | Hours at agreed rates less write-downs at billing, recognised as the right to invoice arises (IFRS 15.B16), invoiced monthly in arrears; travel rebilled at cost is revenue (principal). |
| Capped fee | Time and materials until the value at completion exceeds the cap; then revenue = cap x % complete with a cumulative catch-up and the excess shown as value above the cap. |
| Time to cash | Standard value at the rate card, less client discounts, less write-downs by cause (time and materials, fixed-fee overruns, value above caps), gives fee revenue; then invoicing, collection and credit losses. Realisation at every step and from time recorded to cash. |
| Lock-up | Unbilled work days (contract assets / fee revenue of the last three months x days) plus debtor days (gross receivables / invoicing incl. VAT of the last three months x days). |
| Capacity and people | Available hours per FTE from working days, Bavarian holidays, leave, sickness and training; utilisation by practice and grade against targets (partner 40% to consultant 82%); subcontractors above 90%; standard cost rates; cost of hours below target; leverage (fee earners per partner, the founder counted as a partner). |
| Engagement review | Fee budget vs actual for every signed engagement: budget hours, hours to date, estimate to complete, hours at completion, realisation and margin at standard cost to date and at completion, contract position, flags for forecasts over budget or above the cap. |
| Practices | Contribution = revenue less fee-earner pay, bonus and social security, subcontractors and travel; central costs allocated by revenue share; allocated practice profits add back to EBITDA (checked). |
| Pipeline and sales | Revenue split into signed, named pipeline (win-weighted by scenario) and new work not yet identified (a labelled fill of the gap to target utilisation from Nov-26); backlog and months of cover; CRM sales record with win rates; client concentration FY2026 and FY2027. |
| Credit risk | Pelzhoff insolvency: output VAT corrected on the application (UStG s17), 95% of the net claim provided (IFRS 9 credit-impaired); expected credit loss rate on the rest (simplified approach). |

## 6. German rules applied (Known: verified 23 Sep 2026)

| Rule | Value used | Source |
|---|---|---|
| VAT standard rate | 19%, charged to German clients only | BMF; UStG s12(1) |
| Services to business clients abroad | Austria (EU): reverse charge by the client, reported in the recapitulative statement (ZM) by the 25th after the quarter; Switzerland: outside the scope of German VAT | UStG s3a(2) and s13b; BZSt |
| VAT returns | Monthly under the permanent one-month extension: each month paid on the 10th of the second month; special prepayment of 1/11 of the prior-year prepayments paid on 10 February and credited against the December return | UStG s18; UStDV s46 to s48 |
| Uncollectible receivable | Output VAT corrected when the client applied for insolvency | UStG s17; UStAE 17.1(16) |
| Foreign software | Reverse charge, output and input VAT self-assessed | UStG s13b |
| Corporate income tax | 15% plus the 5.5% solidarity surcharge (15.825%); 15% to FY2027, then one point lower a year from 2028 to 10% in 2032 | KStG s23(1); BMF monthly report Aug-25; Federal Constitutional Court 26 Mar 2025 (2 BvR 1505/20) on the surcharge |
| Trade tax | 3.5% x the Munich multiplier of 490% = 17.15%, not deductible; a quarter of financing components above EUR 200,000 added back | GewStG s11(2), s8 no. 1; City of Munich |
| Tax prepayments | Corporate income tax 10 Mar, Jun, Sep, Dec; trade tax 15 Feb, May, Aug, Nov; a quarter of the last assessment; may be adjusted on application | EStG s37 via KStG s31; GewStG s19 |
| Client entertainment | 30% not deductible for income tax; input VAT recoverable | EStG s4(5) no. 2 |
| Dividend withholding | 25% plus the solidarity surcharge (26.375%), filed and paid on the day of payment | EStG s43a and s44; ELSTER guidance |
| Social security 2026 | Pension 18.6% and unemployment 2.6% up to EUR 8,450 a month; health 14.6% plus the average additional rate of 2.9% and long-term care 3.6% up to EUR 5,812.50 a month; shared equally; 0.6% childless surcharge for employees | BMAS; Federal Ministry of Health |
| Contribution ceilings 2027 | EUR 8,850 (pension) and EUR 6,375 (health) a month | BMAS draft ordinance of 21 Sep 2026 (Assumption until enacted) |
| Employer levies | U2 0.42% (one insurer published 2026 rate; set by each insurer); U3 0.15% in 2026, assumed unchanged in 2027; U1 does not apply above 30 employees | AAG s1; SGB III s360; Techniker Krankenkasse employer guidance 2026 |
| Payment dates | Social security on the third-last banking day of the month; wage tax by the 10th of the following month | SGB IV s23; EStG s41a |
| Founder | Majority shareholder-managing director, not socially insured | German Pension Insurance |
| E-invoicing | From 1 January 2027 a company with prior-year turnover above EUR 800,000 must issue structured e-invoices to German business clients | UStG s27(38); BMF e-invoice FAQ (paper or other formats allowed to 31 Dec 2026, to 31 Dec 2027 only up to EUR 800,000 prior-year turnover) |
| Insolvency challenge | Payments received in the three months before the application can be challenged if the creditor knew of the inability to pay | InsO s130 |
| Freelancer status | Status determination procedure for long assignments | SGB IV s7a |
| Severance benchmark | 0.5 monthly earnings per year of service | KSchG s1a(2) |
| Public holidays | Bavarian holidays for Munich, incl. Epiphany, Corpus Christi, Assumption Day and All Saints' Day | Bavarian public holidays act (FTG Art. 1) |

## 7. Assumptions (company judgements, labelled in the workbook)

- Hours by grade follow a fixed staffing mix per engagement profile (diagnostic, implementation, programme management); salaries are grade averages, and every grade sits wholly on one side of each contribution ceiling, so contributions per head are exact.
- New work not yet identified fills the gap to target utilisation from Nov-26 at 80% in the Base (60% Downside, 100% Upside), at an 8% discount and 4% write-down; it is labelled on the Pipeline sheet and counts as not yet won.
- Pipeline engagements and the hires tied to them carry the win probability of the selected scenario; attrition by grade with replacement three months later unless hiring is frozen.
- The 2027 contribution rates (pension 18.6%, average health additional rate 2.9%) are assumed unchanged until set; accident insurance (BG) is not modelled.
- FY2027 tax prepayments are aligned to the FY2026 outlook on application; tax is charged on the year-to-date profit, with no deferred tax.
- The statutory HGB accounts carry unfinished fixed-fee work at cost until acceptance; the model reports on IFRS 15 for management and does not compute that difference. The office lease is expensed as rent (IFRS 16 not applied).
- Downside separations: 5 fee earners from April 2027 at 0.5 monthly salaries per year of service and 3 years average tenure.
- Average wage tax withheld by grade from a payroll analysis; the FY2025 bonus provision was paid with the March payroll.

## 8. Information needed to convert this into a client build

- Timesheet export by person, engagement and task for FY2025 and FY2026, to replace the staffing mixes and to measure write-downs by engagement and grade.
- Signed engagement letters with fee type, fee or cap, rates, discount, milestones, expense terms and acceptance criteria, to replace the register terms.
- Estimates to complete for every live engagement each month, signed off by the engagement partner.
- Payroll register by person with contribution status, health insurer and U2 rate, church tax and childless status, and the FY2027 pay review.
- FY2025 tax assessments and the current prepayment notices; the VAT special prepayment calculation; the insolvency administrator correspondence on Pelzhoff.
- Subcontractor contracts and the status review under SGB IV s7a for every freelancer working long-term at one client.

## 9. Using the workbook

- Change the scenario on Assumptions!C11 (1 Base, 2 Downside, 3 Upside); every forecast month, the CFO report and the Cover move with it. The Scenarios sheet holds the three snapshots; the check turns red if the live figures stop matching the stored snapshot.
- Blue on yellow cells are inputs; black are formulas; green link other sheets. Actual data is typed only on Inputs_Actuals and the registers.
- The month-end procedure is on the Guide sheet: enter the month, move the last actual month on Assumptions, update the registers and agings, refresh the snapshots and reread Checks.

## 10. JSON structure

Each scenario file has meta (fictional flag, scenario, validation), timeline (24 month-ends with A/F flags), sheets (every monthly sheet as rows with key, label, basis, format, 24 values and FY totals) and tables (assumptions, client register, engagement register, engagement review, pipeline with sales record and concentration, budget vs actual with revenue bridge and EBITDA walk, scenarios, 13-week cash, checks, AR and AP agings, CFO report). Ratios are fractions (0.25 = 25%). The summary file is the one sized for a web page.