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Kaldmere Studio OÜ

FICTIONAL DEMONSTRATION. Every company, person and number in these packs is invented for demonstration.

Kaldmere Studio OÜ

Finance pack · Aug-26 · EUR

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FICTIONAL DEMONSTRATION. Every company, person and number in these packs is invented for demonstration.

Executive review

Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

3. What the numbers say (Base)

Model guide
Measure	Value
YTD Aug-26 net revenue vs budget	EUR 2,548k against EUR 2,722k; variance (6.4%)
YTD EBITDA vs budget	EUR 307k (12.1% of net revenue) against EUR 519k (19.1%)
FY2026 net revenue, EBITDA, net profit	EUR 3,938k, EUR 583k (14.8%), EUR 428k
FY2027 net revenue, EBITDA	EUR 4,189k, EUR 539k (12.9%)
Utilisation and realisation, YTD	70.8% of productive hours; 84.8% of the rate card
Largest client and top five, FY2026	Halvergate 18.7% of net revenue; top five 48.7%
13-week low	EUR 374k in the week ending 02 Oct 2026
Lowest forecast month-end cash	EUR 339k in Sep-26, on payroll day: EUR 11k below the EUR 350k buffer

Model guide
Scenario (negatives in brackets)	FY2027 net revenue	FY2027 EBITDA	Lowest month-end cash
Base	EUR 4,189k	EUR 539k; margin 12.9%	EUR 339k
Downside	EUR 2,837k	(EUR 170k); margin (6.0%)	EUR 50k
Upside	EUR 4,808k	EUR 1,081k; margin 22.5%	EUR 351k

The story: first-half project work started late and the Norbeck website overran, so net revenue is behind budget on volume, and overservicing on retainers holds realisation down. The second half recovers on two new retainers and five live projects. FY2027 depends on renewing Halvergate (the largest client) and on new work not yet won; the Downside (Halvergate leaves at renewal) is survivable only with the overdraft and a capacity cut.

Scenario comparison
Measure	Unit	Base	Downside	Upside
FY2026 net revenue (outlook)	EUR	3,937,675.9212	3,761,827.1051	4,011,809.0013
FY2027 net revenue	EUR	4,189,215.8677	2,837,022.1528	4,807,958.0953
FY2026 delivery contribution %	%	39.72%	37.59%	40.84%
FY2026 EBITDA	EUR	583,450.5013	493,231.2809	653,400.9472
FY2026 EBITDA % of net revenue	%	14.82%	13.11%	16.29%
FY2026 net profit	EUR	428,478.2843	317,750.3208	515,210.6748
FY2027 delivery contribution %	%	38.77%	23.79%	45.73%
FY2027 EBITDA	EUR	538,595.2457	-169,791.908	1,080,997.7921
FY2027 EBITDA % of net revenue	%	12.86%	-5.98%	22.48%
FY2027 net profit	EUR	377,658.9321	-267,239.5746	893,060.0711
Cash at 31-Dec-26	EUR	612,534.283	252,820.3371	665,425.5662
Cash at 31-Dec-27	EUR	803,759.8606	50,030.884	1,257,727.7431
Lowest month-end cash, Sep-26 to Dec-27	EUR	339,326.2395	50,030.884	350,573.4146
Month of the lowest cash	month	2026-09-30	2027-12-31	2026-09-30
Headroom at the lowest point vs the cash buffer (negative = shortfall)	EUR	-10,673.7605	-299,969.116	573.4146
FY2027 utilisation (own staff)	%	68.17%	62.77%	72.33%
FY2027 realisation	%	88.23%	81.27%	92.28%
FY2027 retainer fees	EUR	2,425,082.9336	1,464,956.1144	2,704,725.8744
FY2027 largest client share of net revenue	%	17.76%	17.77%	18.21%
FY2027 fee revenue not yet won (share)	%	27.74%	26.67%	31.44%
FY2027 FX gains / (losses)	EUR	0	0	0
Headcount at Dec-27	number	41.85	34	42.15

P&L & budget

Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

PROFIT AND LOSS
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Retainer fees	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	203,902.3236	190,402.3236	190,402.3236	190,402.3236	195,930.8133	195,930.8133	198,510.0638	200,354.2194	200,354.2194	206,969.6687	205,017.5226	205,017.5226	205,017.5226	203,993.5226	203,993.5226	203,993.5226	2,264,397.5294	2,425,082.9336
Fixed-fee project fees	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	112,632.3406	95,895.3276	72,764.8417	45,788.9163	45,480.7868	73,409.42	92,024.0323	105,942.4314	104,931.7012	91,547.0013	94,950.0125	80,868.735	60,384	71,808	71,808	60,384	926,786.4793	953,538.1205
Time and materials	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	33,303.601	29,595.2242	40,155.662	36,895.9525	37,446.0124	38,717.0875	29,519.827	38,965.4466	42,096.9538	50,101.0552	46,435.1243	37,270.2972	48,292.5293	46,386.2453	50,198.8134	47,657.1013	47,657.1013	43,844.5332	35,583.969	43,209.1052	50,198.8134	52,105.0974	48,292.5293	38,761.1091	460,502.2437	552,186.947
Media management fees	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	19,530.4067	19,335.0268	21,595.5016	23,771.4365	23,099.434	22,018.8784	21,094.5728	22,676.7917	23,046.8	25,351.48	31,113.18	27,656.16	19,477.58	19,477.58	21,341.56	21,822.6368	21,822.6368	20,731.5049	17,955.502	19,011.708	21,124.12	22,796.532	27,977.562	24,868.944	280,289.6687	258,407.8667
Production recharged to clients (principal)	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	0	0	0	0	0	0	4,830	6,440	7,575.5556	13,338.8889	12,265.5556	5,250	0	0	0	0	0	0	0	0	0	0	0	0	49,700	0
REVENUE	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)		284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	361,734.5251	382,711.3088	389,253.9736	375,089.0754	352,981.0253	306,367.6971	309,181.7094	335,204.0585	362,074.4695	375,776.3889	374,765.6587	363,092.7081	353,507.0062	348,107.0708	336,724.456	350,703.1521	352,071.614	328,007.5757	3,981,675.9212	4,189,215.8677
Production bought in (photography, print, video)	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	Projects	0	0	0	0	0	0	-4,200	-5,600	-6,709.7222	-11,868.0556	-10,934.7222	-4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	-44,000	0
NET REVENUE	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	revenue - production bought in	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	357,534.5251	377,111.3088	382,544.2514	363,221.0198	342,046.3031	301,680.1971	309,181.7094	335,204.0585	362,074.4695	375,776.3889	374,765.6587	363,092.7081	353,507.0062	348,107.0708	336,724.456	350,703.1521	352,071.614	328,007.5757	3,937,675.9212	4,189,215.8677
Net revenue growth vs prior month (memo)	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)			-7.48%	6.64%	8.75%	5.52%	10.53%	0.33%	5.48%	1.44%	-5.05%	-5.83%	-11.8%	2.49%	8.42%	8.02%	3.78%	-0.27%	-3.11%	-2.64%	-1.53%	-3.27%	4.15%	0.39%	-6.83%
Delivery team payroll (incl. social tax and unemployment insurance)	DELIVERY COSTS	People	-178,119.912	-177,361.266	-180,349.02	-186,427.554	-177,691.752	-177,287.676	-183,008.964	-184,003.098	-181,566.6	-188,122.8	-193,073.4	-193,073.4	-204,844.756	-204,844.756	-207,025.9636	-207,025.9636	-207,025.9636	-207,025.9636	-207,025.9636	-207,025.9636	-207,025.9636	-207,025.9636	-207,025.9636	-207,025.9636	-2,200,085.442	-2,479,949.1486
Freelancers	DELIVERY COSTS	Utilisation	-5,062.83	-5,921.18	-5,125.2	-6,532.51	-5,209.98	-25,536.25	-59,683.52	-32,476.4	-11,627.4452	-5,500	-5,500	-5,500	-5,747.5	-5,747.5	-5,747.5	-5,747.5	-5,747.5	-5,747.5	-21,981.5604	-5,747.5	-5,747.5	-5,747.5	-5,747.5	-5,747.5	-173,675.3152	-85,204.0604
TOTAL DELIVERY COSTS	DELIVERY COSTS		-183,182.742	-183,282.446	-185,474.22	-192,960.064	-182,901.732	-202,823.926	-242,692.484	-216,479.498	-193,194.0452	-193,622.8	-198,573.4	-198,573.4	-210,592.256	-210,592.256	-212,773.4636	-212,773.4636	-212,773.4636	-212,773.4636	-229,007.524	-212,773.4636	-212,773.4636	-212,773.4636	-212,773.4636	-212,773.4636	-2,373,760.7572	-2,565,153.209
DELIVERY CONTRIBUTION	DELIVERY COSTS	net revenue - delivery costs	101,608.1956	80,193.3975	95,494.488	112,579.8349	139,506.7685	153,530.5014	114,842.0411	160,631.8108	189,350.2062	169,598.2198	143,472.9031	103,106.7971	98,589.4533	124,611.8025	149,301.0058	163,002.9252	161,992.195	150,319.2444	124,499.4821	135,333.6072	123,950.9924	137,929.6884	139,298.1503	115,234.1121	1,563,915.164	1,624,062.6588
Delivery contribution % of net revenue	DELIVERY COSTS		35.68%	30.44%	33.99%	36.85%	43.27%	43.08%	32.12%	42.6%	49.5%	46.69%	41.95%	34.18%	31.89%	37.17%	41.23%	43.38%	43.22%	41.4%	35.22%	38.88%	36.81%	39.33%	39.57%	35.13%	39.72%	38.77%
Leadership, new business and operations payroll	OPERATING COSTS	People	-32,882.688	-32,680.65	-32,252.49	-32,853.252	-32,399.67	-32,649.876	-32,562.906	-32,718.114	-32,647.2	-32,647.2	-32,647.2	-32,647.2	-34,116.324	-34,116.324	-34,116.324	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-391,588.446	-479,865.672
Bonus accrual (all staff, incl. employer taxes)	OPERATING COSTS	People	-10,550.13	-10,502.0958	-10,630.0755	-10,964.0403	-10,504.5711	-10,496.8776	-10,778.5935	-10,836.0606	-10,710.69	-11,038.5	-11,286.03	-11,286.03	-11,948.054	-11,948.054	-12,057.1144	-12,448.6132	-12,448.6132	-12,448.6132	-12,448.6132	-12,448.6132	-12,448.6132	-12,448.6132	-12,448.6132	-12,448.6132	-129,583.6944	-147,990.741
Rent and service charges, Tallinn office	OPERATING COSTS	Overheads	-9,198	-10,089	-10,207	-9,251	-8,699	-9,141	-9,100	-9,186	-9,400	-9,400	-9,400	-9,400	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-112,471	-116,184
Software and tools	OPERATING COSTS	Overheads	-6,492	-6,219	-6,515	-6,180	-6,716	-6,127	-6,748	-6,413	-6,500	-6,500	-6,500	-6,500	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-77,410	-80,340
Client travel (UK, US, EU)	OPERATING COSTS	Overheads	-3,394	-6,861	-6,969	-6,196	-6,591	-4,368	-2,245	-3,033	-5,100	-5,100	-5,100	-5,100	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-60,057	-63,036
New business, awards and events	OPERATING COSTS	Overheads	-2,068	-3,304	-3,646	-4,548	-9,013	-4,228	-1,510	-2,581	-3,700	-3,700	-3,700	-3,700	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-45,698	-45,732
Recruitment	OPERATING COSTS	Overheads	-800	-800	-5,300	-800	-800	-800	-5,300	-800	-800	-5,300	-5,300	-800	-2,849	-824	-2,624	-5,324	-824	-824	-824	-824	-824	-824	-824	-824	-27,600	-18,213
Training and conferences	OPERATING COSTS	Overheads	-2,451	-2,109	-1,927	-2,264	-2,331	-2,140	-2,328	-2,224	-2,200	-2,200	-2,200	-2,200	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-26,574	-27,192
Accounting, legal and professional fees	OPERATING COSTS	Overheads	-2,542	-2,755	-2,762	-2,741	-2,746	-2,612	-2,401	-2,568	-2,600	-2,600	-2,600	-2,600	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-31,527	-32,136
Insurance (professional indemnity, cyber)	OPERATING COSTS	Overheads	-892	-811	-940	-894	-821	-944	-798	-828	-900	-900	-900	-900	-927	-927	-927	-927	-927	-927	-927	-927	-927	-927	-927	-927	-10,528	-11,124
Office and administration	OPERATING COSTS	Overheads	-2,141	-2,044	-1,753	-2,033	-1,969	-1,948	-2,051	-1,806	-2,100	-2,100	-2,100	-2,100	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-24,145	-25,956
IT support and equipment leases	OPERATING COSTS	Overheads	-1,684	-1,670	-2,012	-1,831	-2,054	-2,015	-1,685	-2,113	-1,900	-1,900	-1,900	-1,900	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-22,664	-23,484
Bank, payment and FX charges	OPERATING COSTS	Overheads	-1,283	-978	-1,053	-1,177	-1,138	-1,127	-1,120	-1,028	-1,150	-1,150	-1,150	-1,150	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-13,504	-14,214
Bad debts (specific provision)	OPERATING COSTS	Receivables	0	0	0	0	0	-7,240.65	0	0	0	0	126.1278	0	0	0	0	0	0	0	0	0	0	0	0	0	-7,114.5222	0
TOTAL OPERATING COSTS	OPERATING COSTS		-76,377.818	-80,822.7458	-85,966.5655	-81,732.2923	-85,782.2411	-85,837.4036	-78,627.4995	-76,134.1746	-79,707.89	-84,535.7	-84,657.1022	-80,283.23	-85,529.878	-83,504.878	-85,413.9384	-96,335.4132	-91,835.4132	-91,835.4132	-91,835.4132	-91,835.4132	-91,835.4132	-91,835.4132	-91,835.4132	-91,835.4132	-980,464.6626	-1,085,467.413
EBITDA	OPERATING COSTS		25,230.3776	-629.3483	9,527.9225	30,847.5426	53,724.5274	67,693.0978	36,214.5416	84,497.6362	109,642.3162	85,062.5198	58,815.8008	22,823.5671	13,059.5753	41,106.9245	63,887.0674	66,667.512	70,156.7818	58,483.8312	32,664.0689	43,498.194	32,115.5792	46,094.2752	47,462.7371	23,398.6989	583,450.5013	538,595.2457
EBITDA % of net revenue	OPERATING COSTS		8.86%	-0.24%	3.39%	10.1%	16.66%	19%	10.13%	22.41%	28.66%	23.42%	17.2%	7.57%	4.22%	12.26%	17.64%	17.74%	18.72%	16.11%	9.24%	12.5%	9.54%	13.14%	13.48%	7.13%	14.82%	12.86%
Depreciation	BELOW EBITDA	Fixed_Assets	-5,983.3333	-6,022.2222	-6,108.3333	-6,252.7778	-6,277.7778	-6,344.4444	-6,477.7778	-6,522.2222	-6,600	-6,750	-6,900	-6,977.7778	-7,091.5556	-7,172.8333	-7,883	-8,036.5	-8,117.7778	-8,199.0556	-8,280.3333	-8,361.6111	-8,442.8889	-8,524.1667	-8,605.4444	-8,686.7222	-77,216.6667	-97,401.8889
EBIT	BELOW EBITDA		19,247.0443	-6,651.5705	3,419.5892	24,594.7649	47,446.7496	61,348.6534	29,736.7638	77,975.414	103,042.3162	78,312.5198	51,915.8008	15,845.7893	5,968.0198	33,934.0911	56,004.0674	58,631.012	62,039.0041	50,284.7757	24,383.7356	35,136.5829	23,672.6903	37,570.1086	38,857.2927	14,711.9767	506,233.8347	441,193.3568
FX gains / (losses) on client balances	BELOW EBITDA	FX	-800.6979	-1,448.5772	6,340.4465	-2,443.0889	794.5139	7,283.5668	-524.2913	-2,859.0624	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,342.8096	0
Loan interest	BELOW EBITDA	Financing	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-336	-322	-308	-294	-280	-266	-252	-238	-224	-210	-196	-182	-5,124	-3,108
PROFIT BEFORE TAX	BELOW EBITDA		17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	68,198.2202	28,792.4725	74,710.3516	102,650.3162	77,934.5198	51,551.8008	15,495.7893	5,632.0198	33,612.0911	55,696.0674	58,337.012	61,759.0041	50,018.7757	24,131.7356	34,898.5829	23,448.6903	37,360.1086	38,661.2927	14,529.9767	507,452.6443	438,085.3568
Income tax on distributions (22/78 of dividends declared)	BELOW EBITDA	Financing	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	-60,426.4247	0	0	0	0	0	0	-78,974.36	-60,426.4247
NET PROFIT	BELOW EBITDA		17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	-10,776.1398	28,792.4725	74,710.3516	102,650.3162	77,934.5198	51,551.8008	15,495.7893	5,632.0198	33,612.0911	55,696.0674	58,337.012	61,759.0041	-10,407.649	24,131.7356	34,898.5829	23,448.6903	37,360.1086	38,661.2927	14,529.9767	428,478.2843	377,658.9321
Net profit % of net revenue	BELOW EBITDA		6.3%	-3.26%	3.3%	7.1%	14.82%	-3.02%	8.05%	19.81%	26.83%	21.46%	15.07%	5.14%	1.82%	10.03%	15.38%	15.52%	16.48%	-2.87%	6.83%	10.03%	6.96%	10.65%	10.98%	4.43%	10.88%	9.02%
Gross billings ex VAT (revenue + media spend rebilled)	MEMO	FX	482,249.7418	458,766.4182	500,028.2106	546,540.7887	557,316.2949	579,747.2781	576,496.7906	612,918.4401	623,083.2709	632,301.3024	668,650.5766	586,962.8538	507,001.6121	533,023.9612	578,892.3019	597,584.0534	596,573.3232	573,809.9894	535,446.4186	540,748.8016	550,770.8236	581,754.1564	635,634.2102	580,063.2168	6,825,061.9667	6,811,302.8683
People cost (payroll, bonus, freelancers) % of net revenue	MEMO		79.57%	85.95%	81.27%	77.49%	70.04%	69.02%	80%	68.95%	61.84%	65.33%	70.9%	80.39%	83.01%	76.57%	71.52%	71.1%	71.29%	73.58%	80.17%	76.75%	79.34%	76.18%	75.88%	81.45%	73.52%	76.22%

ORIGINAL FY2026 BUDGET (APPROVED DEC-25, FICTIONAL)
Measure	Section	Basis	2026-01 Budget	2026-02 Budget	2026-03 Budget	2026-04 Budget	2026-05 Budget	2026-06 Budget	2026-07 Budget	2026-08 Budget	2026-09 Budget	2026-10 Budget	2026-11 Budget	2026-12 Budget	FY2026
Retainer hours	HOURS	budget input	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	24,360
Project hours	HOURS	budget input	913	978	1,043	1,000	957	1,022	913	935	1,087	1,130	1,065	848	11,891
Time and materials hours	HOURS	budget input	494	475	514	488	488	449	364	442	514	533	494	397	5,652
Media management hours	HOURS	budget input	245	245	245	245	245	245	245	245	245	245	245	245	2,940
TOTAL BILLABLE HOURS	HOURS		3,682	3,728	3,832	3,763	3,720	3,746	3,552	3,652	3,876	3,938	3,834	3,520	44,843
Retainer fees	REVENUE AND NET REVENUE	budget input	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	2,265,972
Fixed-fee project fees	REVENUE AND NET REVENUE	budget input	84,000	90,000	96,000	92,000	88,000	94,000	84,000	86,000	100,000	104,000	98,000	78,000	1,094,000
Time and materials	REVENUE AND NET REVENUE	budget input	42,504	40,826	44,182	41,945	41,945	38,589	31,319	38,030	44,182	45,860	42,504	34,115	486,001
Media management fees	REVENUE AND NET REVENUE	budget input	20,400	20,400	22,800	24,000	24,000	22,800	20,400	21,600	24,000	26,400	32,400	28,800	288,000
Production recharged to clients (principal)	REVENUE AND NET REVENUE	budget input	0	0	0	0	0	3,000	6,000	6,000	12,000	14,000	10,000	4,000	55,000
REVENUE	REVENUE AND NET REVENUE		335,735	340,057	351,813	346,776	342,776	347,220	330,550	340,461	369,013	379,091	371,735	333,746	4,188,973
Production bought in	REVENUE AND NET REVENUE	budget input	0	0	0	0	0	-2,632	-5,263	-5,263	-10,526	-12,281	-8,772	-3,509	-48,246
NET REVENUE	REVENUE AND NET REVENUE		335,735	340,057	351,813	346,776	342,776	344,588	325,287	335,198	358,487	366,810	362,963	330,237	4,140,727
Delivery team payroll	COSTS	budget input	-179,292	-179,292	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-2,210,374
Freelancers	COSTS	budget input	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-144,000
TOTAL DELIVERY COSTS	COSTS		-191,292	-191,292	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-2,354,374
DELIVERY CONTRIBUTION	COSTS		144,443	148,765	154,634	149,597	145,597	147,409	128,108	138,019	161,308	169,631	165,784	133,058	1,786,353
Leadership, new business and operations payroll	COSTS	budget input	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-391,764
Bonus accrual	COSTS	budget input	-10,597	-10,597	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-130,104
Rent and service charges, Tallinn office	COSTS	budget input	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-112,800
Software and tools	COSTS	budget input	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-74,400
Client travel (UK, US, EU)	COSTS	budget input	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-60,000
New business, awards and events	COSTS	budget input	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-43,200
Recruitment	COSTS	budget input	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-19,200
Training and conferences	COSTS	budget input	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-26,400
Accounting, legal and professional fees	COSTS	budget input	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-30,000
Insurance (professional indemnity, cyber)	COSTS	budget input	-900	-900	-900	-900	-900	-900	-900	-900	-900	-900	-900	-900	-10,800
Office and administration	COSTS	budget input	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-24,000
IT support and equipment leases	COSTS	budget input	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-21,600
Bank, payment and FX charges	COSTS	budget input	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-12,000
Bad debts	COSTS	budget input	0	0	0	0	0	0	0	0	0	0	0	0	0
TOTAL OPERATING COSTS	COSTS		-79,444	-79,444	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-956,268
EBITDA	COSTS		64,999	69,321	74,896	69,859	65,859	67,671	48,370	58,281	81,570	89,893	86,046	53,320	830,085
Depreciation	COSTS	budget input	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-64,800
FX gains / (losses)	COSTS	budget input	0	0	0	0	0	0	0	0	0	0	0	0	0
Loan interest	COSTS	budget input	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-5,124
PROFIT BEFORE TAX	COSTS		59,095	63,431	69,020	63,997	60,011	61,837	42,550	52,475	75,778	84,115	80,282	47,570	760,161
Income tax on distributions (June dividend)	COSTS	budget input	0	0	0	0	0	-78,974	0	0	0	0	0	0	-78,974
NET PROFIT	COSTS		59,095	63,431	69,020	63,997	60,011	-17,137	42,550	52,475	75,778	84,115	80,282	47,570	681,187
Cash at bank	BUDGETED MONTH-END BALANCES	budget balance	539,000	597,000	528,000	585,000	639,000	415,000	374,000	422,000	490,000	567,000	639,000	682,000	682,000
Trade receivables	BUDGETED MONTH-END BALANCES	budget balance	585,000	591,000	625,000	628,000	623,000	619,000	579,000	601,000	656,000	688,000	728,000	651,000	651,000
Contract assets less contract liabilities	BUDGETED MONTH-END BALANCES	budget balance	37,000	37,000	38,000	37,000	37,000	38,000	37,000	37,000	38,000	38,000	38,000	36,000	36,000

Budget vs actual / rows
label	ytd actual	ytd budget	ytd variance	ytd variance pct	fy outlook	fy budget	fy variance	fy variance pct	commentary
Retainer hours	16,404.9	16,240	164.9	1.02%	24,568.3441	24,360	208.3441	0.86%
Project hours	6,548.2	7,761	-1,212.8	-15.63%	9,730.2819	11,891	-2,160.7181	-18.17%	First-half projects started later than budgeted; Norbeck absorbed hours without fees.
Time and materials hours	3,195.3	3,714	-518.7	-13.97%	5,146.2321	5,652	-505.7679	-8.95%
Media management hours	1,960	1,960	0	0%	2,940	2,940	0	0%
Retainer fees	1,489,288.235	1,510,648	-21,359.765	-1.41%	2,264,397.5294	2,265,972	-1,574.4706	-0.07%	Quillfield started in April against a January budget; Pellworth won in June (not budgeted); overservicing 1,870 hours.
Fixed-fee project fees	599,705.0531	714,000	-114,294.9469	-16.01%	926,786.4793	1,094,000	-167,213.5207	-15.28%	Hours effect EUR -112k, rate effect EUR -3k (bridge below).
Time and materials	284,598.8132	319,340	-34,741.1868	-10.88%	460,502.2437	486,001	-25,498.7563	-5.25%
Media management fees	173,122.0486	176,400	-3,277.9514	-1.86%	280,289.6687	288,000	-7,710.3313	-2.68%	Client media spend below the budgeted level; fee rates unchanged.
Production recharged to clients (principal)	11,270	15,000	-3,730	-24.87%	49,700	55,000	-5,300	-9.64%
REVENUE	2,557,984.1498	2,735,388	-177,403.8502	-6.49%	3,981,675.9212	4,188,973	-207,297.0788	-4.95%
Production bought in	-9,800	-13,158	3,358	25.52%	-44,000	-48,246	4,246	8.8%
NET REVENUE	2,548,184.1498	2,722,230	-174,045.8502	-6.39%	3,937,675.9212	4,140,727	-203,051.0788	-4.9%
Delivery team payroll	-1,444,249.242	-1,469,658	25,408.758	1.73%	-2,200,085.442	-2,210,374	10,288.558	0.47%	Developer hired in April; one content producer left in May, not replaced.
Freelancers	-145,547.87	-96,000	-49,547.87	-51.61%	-173,675.3152	-144,000	-29,675.3152	-20.61%	Development and design at capacity from June: freelancers covered the peak.
DELIVERY CONTRIBUTION	958,387.0378	1,156,572	-198,184.9622	-17.14%	1,563,915.164	1,786,353	-222,437.836	-12.45%
Delivery contribution %	0.3761	0.4249	-0.0488		0.3972	0.4314	-0.0342
Leadership, new business and operations payroll	-260,999.646	-261,176	176.354	0.07%	-391,588.446	-391,764	175.554	0.04%
Bonus accrual	-85,262.4444	-86,540	1,277.5556	1.48%	-129,583.6944	-130,104	520.3056	0.4%
Rent and service charges, Tallinn office	-74,871	-75,200	329	0.44%	-112,471	-112,800	329	0.29%
Software and tools	-51,410	-49,600	-1,810	-3.65%	-77,410	-74,400	-3,010	-4.05%
Client travel (UK, US, EU)	-39,657	-40,000	343	0.86%	-60,057	-60,000	-57	-0.09%
New business, awards and events	-30,898	-28,800	-2,098	-7.28%	-45,698	-43,200	-2,498	-5.78%
Recruitment	-15,400	-12,800	-2,600	-20.31%	-27,600	-19,200	-8,400	-43.75%
Training and conferences	-17,774	-17,600	-174	-0.99%	-26,574	-26,400	-174	-0.66%
Accounting, legal and professional fees	-21,127	-20,000	-1,127	-5.63%	-31,527	-30,000	-1,527	-5.09%
Insurance (professional indemnity, cyber)	-6,928	-7,200	272	3.78%	-10,528	-10,800	272	2.52%
Office and administration	-15,745	-16,000	255	1.59%	-24,145	-24,000	-145	-0.6%
IT support and equipment leases	-15,064	-14,400	-664	-4.61%	-22,664	-21,600	-1,064	-4.93%
Bank, payment and FX charges	-8,904	-8,000	-904	-11.3%	-13,504	-12,000	-1,504	-12.53%
Bad debts	-7,240.65	0	-7,240.65	0%	-7,114.5222	0	-7,114.5222	0%	Half of the disputed Norbeck change request CR-03 provided in June.
TOTAL OPERATING COSTS	-651,280.7404	-637,316	-13,964.7404	-2.19%	-980,464.6626	-956,268	-24,196.6626	-2.53%
EBITDA	307,106.2974	519,256	-212,149.7026	-40.86%	583,450.5013	830,085	-246,634.4987	-29.71%	EUR 212k behind budget YTD; EUR 247k on the full-year outlook.
EBITDA % of net revenue	0.1205	0.1907	-0.0702		0.1482	0.2005	-0.0523
FX gains / (losses)	6,342.8096	0	6,342.8096	0%	6,342.8096	0	6,342.8096	0%
NET PROFIT	180,845.8582	393,442	-212,596.1418	-54.03%	428,478.2843	681,187	-252,708.7157	-37.1%
Cash at bank	367,888.0493	422,000	-54,111.9507	-12.82%	612,534.283	682,000	-69,465.717	-10.19%
Trade receivables	599,808.5013	601,000	-1,191.4987	-0.2%	746,044.2019	651,000	95,044.2019	14.6%
Contract assets less contract liabilities	104,460.9211	37,000	67,460.9211	182.33%	41,503.3717	36,000	5,503.3717	15.29%	Unbilled work on Norbeck and Van Lienden between milestones.

Budget vs actual / net revenue bridge ytd
Stream	Actual net revenue YTD	Budget net revenue YTD	Actual hours YTD	Budget hours YTD	Actual rate	Budget rate	Hours effect	Rate effect	Total variance
Retainers	1,489,288.235	1,510,648	16,404.9	16,240	90.7831	93.0202	15,339.0305	-36,698.7955	-21,359.765
Fixed-fee projects	599,705.0531	714,000	6,548.2	7,761	91.5832	91.9985	-111,575.7248	-2,719.2222	-114,294.9469
Time and materials	284,598.8132	319,340	3,195.3	3,714	89.0679	85.9828	-44,599.2617	9,858.0749	-34,741.1868
Media management	173,122.0486	176,400	1,960	1,960	88.3276	90	0	-3,277.9514	-3,277.9514
Production mark-up (no hours)	1,470	1,842					-372	0	-372
TOTAL	2,548,184.1498	2,722,230	28,108.4	29,675			-141,207.956	-32,837.8942	-174,045.8502

Budget vs actual / ebitda walk ytd
step	value
Budget EBITDA YTD	519,256
Net revenue variance	-174,045.8502
Delivery payroll variance	25,408.758
Freelancer variance	-49,547.87
Leadership, new business and operations payroll and bonus variance	1,453.9096
Overheads and bad debts variance	-15,418.65
Actual EBITDA YTD	307,106.2974

Balance sheet & cash flow

Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

BALANCE SHEET
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Cash at bank	ASSETS	CF	492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	339,326.2395	420,682.1088	567,960.4875	612,534.283	640,194.1607	794,311.6488	644,595.941	637,777.3006	748,210.6121	566,846.1796	562,787.4479	664,145.7304	682,973.5728	712,826.7226	810,264.2607	803,759.8606	612,534.283	803,759.8606
Trade receivables, net of the specific provision	ASSETS	Receivables	698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	725,543.8052	696,742.6615	599,808.5013	740,559.1973	842,156.3795	826,109.1839	746,044.2019	739,282.8338	588,010.8306	673,746.031	749,387.019	688,652.4208	686,019.7661	688,647.9277	622,812.2791	646,595.251	737,302.0186	709,504.9384	712,579.4615	746,044.2019	712,579.4615
Contract assets (work done, not yet invoiced)	ASSETS	FX	56,471.5504	71,124.6723	75,450.8687	36,916.5417	66,622.8948	38,781.8119	79,499.3444	137,974.4649	116,118.7531	104,947.8793	71,110.9436	44,314.0472	62,090.3906	59,804.9207	65,785.2864	58,146.846	65,965.1013	56,817.7897	71,699.2381	53,817.1052	50,198.8134	52,105.0974	58,900.5293	38,761.1091	44,314.0472	38,761.1091
Prepayments and deposits	ASSETS	opening balance, no movement modelled	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000
Fixed assets, net book value	ASSETS	Fixed_Assets	137,616.6667	132,994.4444	129,986.1111	128,933.3333	123,555.5556	119,611.1111	117,933.3333	113,011.1111	109,211.1111	107,861.1111	106,361.1111	102,183.3333	99,187.7778	94,940.9444	127,023.9444	124,513.4444	119,321.6667	114,048.6111	108,694.2778	103,258.6667	97,741.7778	92,143.6111	86,464.1667	80,703.4444	102,183.3333	80,703.4444
TOTAL ASSETS	ASSETS		1,423,473.0841	1,438,383.349	1,403,210.6626	1,418,803.558	1,430,374.8232	1,194,424.2035	1,210,339.3242	1,256,682.1266	1,343,215.301	1,513,647.4786	1,609,541.7261	1,543,075.8654	1,578,755.163	1,575,068.3445	1,549,151.2028	1,607,824.6101	1,660,149.8008	1,461,732.3465	1,469,828.8915	1,482,033.7813	1,515,509.415	1,632,377.4497	1,703,133.8951	1,673,803.8756	1,543,075.8654	1,673,803.8756
Trade payables: freelancers	LIABILITIES	Payables	3,639.1517	4,316.465	3,396.7242	4,501.8351	3,824.9532	20,329.9532	47,535.2511	25,256.1655	8,495.7866	4,018.6667	4,018.6667	4,018.6667	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,199.5067	16,061.1935	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,018.6667	4,199.5067
Trade payables: media platforms	LIABILITIES	Payables	194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	233,829.2973	257,212.227	315,669.5513	280,595.1567	197,819.9027	197,819.9027	216,817.8324	221,807.6646	221,807.6646	210,717.2813	181,939.4124	192,641.7308	214,046.3676	231,051.0043	283,562.5962	252,055.6411	280,595.1567	252,055.6411
Trade payables: production suppliers	LIABILITIES	Payables	0	0	0	0	0	0	5,191.28	6,911.34	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0	0	5,812.5	0
Trade payables: overhead suppliers	LIABILITIES	Payables	24,604.464	26,075.648	33,979.422	24,448.882	27,001.648	22,879.108	25,041.492	22,728.426	25,114.8	28,462.8	28,462.8	25,114.8	27,374.844	25,868.244	27,207.444	29,216.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,114.8	25,868.244
Payroll taxes payable (TSD)	LIABILITIES	People	86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	90,697.2	92,711.696	92,711.696	98,442.0825	98,442.0825	156,097.0548	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	92,711.696	102,611.6503
VAT payable / (recoverable)	LIABILITIES	VAT	2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-4,074.5371	878.3735	-84.9809	1,627.7696	3,838.3811	1,153.6763	2,493.7356	-6,365.2171	-4,633.6489	3,303.3753	3,022.4793	703.9283	2,113.6675	3,072.0379	3,997.3602	5,500.9848	4,460.0076	3,838.3811	4,460.0076
Contract liabilities (invoiced in advance)	LIABILITIES	FX	68,030.4779	80,699.323	71,738.6281	88,889.4266	55,026.4496	45,288.2198	89,828.5441	33,513.5438	20,016.2606	74,070.8376	49,100.0168	2,810.6755	107,011.0876	60,930.6647	30,710.8862	66,353.8725	42,882.4217	10,608	64,785.354	32,392.677	10,608	62,737.354	31,368.677	10,608	2,810.6755	10,608
Bonus provision	LIABILITIES	People	142,050.13	152,552.2258	31,682.3013	42,646.3416	53,150.9127	63,647.7903	74,426.3838	85,262.4444	95,973.1344	107,011.6344	118,297.6644	129,583.6944	141,531.7484	153,479.8024	35,953.2224	48,401.8356	60,850.4488	73,299.0619	85,747.6751	98,196.2883	110,644.9015	123,093.5147	135,542.1278	147,990.741	129,583.6944	147,990.741
Income tax on distributions payable	LIABILITIES	Financing	0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	60,426.4247	0	0	0	0	0	0	0	0
Bank loan: current portion	LIABILITIES	Financing	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000
Bank loan: non-current portion	LIABILITIES	Financing	69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000	36,000	33,000	30,000	27,000	24,000	21,000	18,000	15,000	12,000	9,000	6,000	3,000	0	36,000	0
TOTAL LIABILITIES	LIABILITIES		627,418.7269	650,919.1395	606,462.4175	600,365.6369	564,143.6386	618,969.1588	606,091.8069	577,724.2577	561,607.116	654,104.7737	698,447.2204	616,485.5704	646,532.8482	609,233.9386	527,620.7294	527,957.1247	518,523.3113	544,752.6483	528,717.4576	506,023.7645	516,050.7079	595,558.6341	627,653.7868	583,793.7906	616,485.5704	583,793.7906
Share capital	EQUITY	opening balance	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600
Retained earnings: opening (memo)	EQUITY		775,512.01	793,454.3564	784,864.2087	794,148.2444	815,837.9203	863,631.1838	572,855.044	601,647.5166	676,357.8682	779,008.1844	856,942.7042	908,494.505	923,990.2943	929,622.3141	963,234.4052	1,018,930.4727	1,077,267.4847	1,139,026.4888	914,379.6976	938,511.4332	973,410.0161	996,858.7064	1,034,218.8149	1,072,880.1076
Net profit (memo)	EQUITY	PL	17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	-10,776.1398	28,792.4725	74,710.3516	102,650.3162	77,934.5198	51,551.8008	15,495.7893	5,632.0198	33,612.0911	55,696.0674	58,337.012	61,759.0041	-10,407.649	24,131.7356	34,898.5829	23,448.6903	37,360.1086	38,661.2927	14,529.9767	428,478.2843	377,658.9321
Dividends (memo)	EQUITY	Financing	0	0	0	0	0	280,000	0	0	0	0	0	0	0	0	0	0	0	214,239.1422	0	0	0	0	0	0	280,000	214,239.1422
Retained earnings	EQUITY		793,454.3564	784,864.2087	794,148.2444	815,837.9203	863,631.1838	572,855.044	601,647.5166	676,357.8682	779,008.1844	856,942.7042	908,494.505	923,990.2943	929,622.3141	963,234.4052	1,018,930.4727	1,077,267.4847	1,139,026.4888	914,379.6976	938,511.4332	973,410.0161	996,858.7064	1,034,218.8149	1,072,880.1076	1,087,410.0843	923,990.2943	1,087,410.0843
TOTAL EQUITY	EQUITY		796,054.3564	787,464.2087	796,748.2444	818,437.9203	866,231.1838	575,455.044	604,247.5166	678,957.8682	781,608.1844	859,542.7042	911,094.505	926,590.2943	932,222.3141	965,834.4052	1,021,530.4727	1,079,867.4847	1,141,626.4888	916,979.6976	941,111.4332	976,010.0161	999,458.7064	1,036,818.8149	1,075,480.1076	1,090,010.0843	926,590.2943	1,090,010.0843
TOTAL LIABILITIES AND EQUITY	EQUITY		1,423,473.0833	1,438,383.3482	1,403,210.6619	1,418,803.5573	1,430,374.8225	1,194,424.2028	1,210,339.3235	1,256,682.1259	1,343,215.3003	1,513,647.4779	1,609,541.7254	1,543,075.8647	1,578,755.1623	1,575,068.3438	1,549,151.2021	1,607,824.6094	1,660,149.8001	1,461,732.3458	1,469,828.8908	1,482,033.7806	1,515,509.4143	1,632,377.449	1,703,133.8944	1,673,803.8749	1,543,075.8647	1,673,803.8749
CHECK: assets less liabilities and equity (must be zero)	EQUITY		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Working capital (receivables + contract assets + prepayments - trade payables - contract liabilities)	MEMO		502,081.9591	322,489.1794	364,666.9087	400,510.1088	378,068.861	503,892.2698	454,220.8169	452,324.3376	598,901.7504	606,623.3385	524,410.0371	510,006.4502	502,967.8835	396,997.4332	498,595.648	523,956.5773	497,859.6851	529,444.5239	509,692.9619	459,527.2258	480,071.9462	503,551.007	461,406.4438	496,609.1788	510,006.4502	496,609.1788
Net cash / (debt): cash less bank loan	MEMO		387,554.9305	573,877.6302	480,312.2071	424,521.0509	507,557.8301	182,487.4753	191,163.985	283,888.0493	258,326.2395	342,682.1088	492,960.4875	540,534.283	571,194.1607	728,311.6488	581,595.941	577,777.3006	691,210.6121	512,846.1796	511,787.4479	616,145.7304	637,973.5728	670,826.7226	771,264.2607	767,759.8606	540,534.283	767,759.8606

CASH FLOW STATEMENT
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Net profit	OPERATING ACTIVITIES (indirect)	PL	17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	-10,776.1398	28,792.4725	74,710.3516	102,650.3162	77,934.5198	51,551.8008	15,495.7893	5,632.0198	33,612.0911	55,696.0674	58,337.012	61,759.0041	-10,407.649	24,131.7356	34,898.5829	23,448.6903	37,360.1086	38,661.2927	14,529.9767	428,478.2843	377,658.9321
Add back: depreciation	OPERATING ACTIVITIES (indirect)		5,983.3333	6,022.2222	6,108.3333	6,252.7778	6,277.7778	6,344.4444	6,477.7778	6,522.2222	6,600	6,750	6,900	6,977.7778	7,091.5556	7,172.8333	7,883	8,036.5	8,117.7778	8,199.0556	8,280.3333	8,361.6111	8,442.8889	8,524.1667	8,605.4444	8,686.7222	77,216.6667	97,401.8889
Add back: interest	OPERATING ACTIVITIES (indirect)		504	490	476	462	448	434	420	406	392	378	364	350	336	322	308	294	280	266	252	238	224	210	196	182	5,124	3,108
Add back: income tax on distributions	OPERATING ACTIVITIES (indirect)		0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	60,426.4247	0	0	0	0	0	0	78,974.36	60,426.4247
EBITDA plus FX on client balances (check equals PL)	OPERATING ACTIVITIES (indirect)		24,429.6797	-2,077.9255	15,868.369	28,404.4537	54,519.0413	74,976.6646	35,690.2503	81,638.5738	109,642.3162	85,062.5198	58,815.8008	22,823.5671	13,059.5753	41,106.9245	63,887.0674	66,667.512	70,156.7818	58,483.8312	32,664.0689	43,498.194	32,115.5792	46,094.2752	47,462.7371	23,398.6989	589,793.311	538,595.2457
(Increase) / decrease in trade receivables	OPERATING ACTIVITIES (indirect)	BS movement	-130,879.1732	178,443.3345	-60,074.8736	-113,971.1563	92,794.0893	-123,905.2624	28,801.1437	96,934.1602	-140,750.6961	-101,597.1821	16,047.1956	80,064.982	6,761.368	151,272.0033	-85,735.2004	-75,640.9881	60,734.5983	2,632.6546	-2,628.1616	65,835.6486	-23,782.9719	-90,706.7675	27,797.0802	-3,074.5231	-178,093.4386	33,464.7403
(Increase) / decrease in contract assets	OPERATING ACTIVITIES (indirect)	BS movement	22,672.767	-14,653.1218	-4,326.1965	38,534.327	-29,706.353	27,841.0828	-40,717.5325	-58,475.1205	21,855.7117	11,170.8739	33,836.9357	26,796.8964	-17,776.3435	2,285.4699	-5,980.3656	7,638.4403	-7,818.2553	9,147.3116	-14,881.4483	17,882.1329	3,618.2918	-1,906.2841	-6,795.4319	20,139.4203	34,830.2702	5,552.9381
(Increase) / decrease in prepayments	OPERATING ACTIVITIES (indirect)	BS movement	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Increase / (decrease) in freelancer payables	OPERATING ACTIVITIES (indirect)	BS movement	-17,760.8483	677.3133	-919.7408	1,105.111	-676.8819	16,505	27,205.2979	-22,279.0856	-16,760.3789	-4,477.12	0	0	180.84	0	0	0	0	0	11,861.6868	-11,861.6868	0	0	0	0	-17,381.3333	180.84
Increase / (decrease) in media platform payables	OPERATING ACTIVITIES (indirect)	BS movement	36,945.4342	985.2247	24,200.0025	30,868.2598	-8,659.3955	-32,403.4593	-17,511.4445	42,624.5313	-1,219.8559	23,382.9297	58,457.3243	-35,074.3946	-82,775.254	0	18,997.9297	4,989.8321	0	-11,090.3832	-28,777.8689	10,702.3184	21,404.6368	17,004.6368	52,511.5919	-31,506.9551	122,595.1567	-28,539.5157
Increase / (decrease) in production payables	OPERATING ACTIVITIES (indirect)	BS movement	0	0	0	0	0	0	5,191.28	1,720.06	1,408.7156	6,396.3333	-1,157.3333	-7,746.5556	-5,812.5	0	0	0	0	0	0	0	0	0	0	0	5,812.5	-5,812.5
Increase / (decrease) in overhead payables	OPERATING ACTIVITIES (indirect)	BS movement	304.464	1,471.184	7,903.774	-9,530.54	2,552.766	-4,122.54	2,162.384	-2,313.066	2,386.374	3,348	0	-3,348	2,260.044	-1,506.6	1,339.2	2,008.8	-3,348	0	0	0	0	0	0	0	814.8	753.444
Increase / (decrease) in payroll taxes payable	OPERATING ACTIVITIES (indirect)	BS movement	-410.254	-420.8054	58,721.7092	-54,828.8268	-3,717.1974	-67.3992	2,313.9829	503.4427	-1,098.3139	2,717.792	2,014.496	0	5,730.3865	0	57,654.9723	-53,485.4045	0	0	0	0	0	0	0	0	5,728.626	9,899.9543
Increase / (decrease) in VAT payable	OPERATING ACTIVITIES (indirect)	BS movement	-1,223.7469	616.5552	-1,531.8475	1,174.3766	637.1165	-1,819.0891	-5,583.4099	-144.492	4,952.9106	-963.3544	1,712.7505	2,210.6115	-2,684.7048	1,340.0592	-8,858.9526	1,731.5682	7,937.0242	-280.896	-2,318.551	1,409.7391	958.3705	925.3223	1,503.6246	-1,040.9772	38.3811	621.6264
Increase / (decrease) in contract liabilities	OPERATING ACTIVITIES (indirect)	BS movement	68,030.4779	12,668.8451	-8,960.6949	17,150.7985	-33,862.977	-9,738.2298	44,540.3243	-56,315.0002	-13,497.2832	54,054.577	-24,970.8208	-46,289.3413	104,200.4122	-46,080.4229	-30,219.7786	35,642.9863	-23,471.4508	-32,274.4217	54,177.354	-32,392.677	-21,784.677	52,129.354	-31,368.677	-20,760.677	2,810.6755	7,797.3245
Increase / (decrease) in the bonus provision	OPERATING ACTIVITIES (indirect)	BS movement	10,550.13	10,502.0958	-120,869.9245	10,964.0403	10,504.5711	10,496.8776	10,778.5935	10,836.0606	10,710.69	11,038.5	11,286.03	11,286.03	11,948.054	11,948.054	-117,526.58	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	-1,916.3056	18,407.0466
Cash generated from operations	OPERATING ACTIVITIES (indirect)		12,658.9305	188,212.6997	-89,989.4231	-50,129.1562	84,384.7792	-42,236.3548	92,870.8697	94,730.0644	-22,369.8099	90,133.8693	156,042.3787	50,723.7955	35,091.8777	160,365.488	-106,441.7077	2,001.3596	116,639.3115	39,066.7097	62,545.6931	107,522.2824	24,977.8424	35,989.1498	103,559.5381	-396.4002	565,032.643	580,921.1444
Interest paid	OPERATING ACTIVITIES (indirect)	Financing	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-336	-322	-308	-294	-280	-266	-252	-238	-224	-210	-196	-182	-5,124	-3,108
Income tax on distributions paid	OPERATING ACTIVITIES (indirect)	Financing	0	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	-60,426.4247	0	0	0	0	0	-78,974.36	-60,426.4247
NET CASH FROM OPERATING ACTIVITIES	OPERATING ACTIVITIES (indirect)		12,154.9305	187,722.6997	-90,465.4231	-50,591.1562	83,936.7792	-42,670.3548	13,476.5097	94,324.0644	-22,761.8099	89,755.8693	155,678.3787	50,373.7955	34,755.8777	160,043.488	-106,749.7077	1,707.3596	116,359.3115	38,800.7097	1,867.2683	107,284.2824	24,753.8424	35,779.1498	103,363.5381	-578.4002	480,934.283	517,386.7197
Capital expenditure	INVESTING ACTIVITIES	Fixed_Assets	-2,600	-1,400	-3,100	-5,200	-900	-2,400	-4,800	-1,600	-2,800	-5,400	-5,400	-2,800	-4,096	-2,926	-39,966	-5,526	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-38,400	-75,922
Bank loan repaid	FINANCING ACTIVITIES	Financing	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-36,000	-36,000
Dividends paid	FINANCING ACTIVITIES	Financing	0	0	0	0	0	-280,000	0	0	0	0	0	0	0	0	0	0	0	-214,239.1422	0	0	0	0	0	0	-280,000	-214,239.1422
NET CASH FROM FINANCING ACTIVITIES	FINANCING ACTIVITIES		-3,000	-3,000	-3,000	-3,000	-3,000	-283,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-217,239.1422	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-316,000	-250,239.1422
NET CASH FLOW FOR THE MONTH	CASH		6,554.9305	183,322.6997	-96,565.4231	-58,791.1562	80,036.7792	-328,070.3548	5,676.5097	89,724.0644	-28,561.8099	81,355.8693	147,278.3787	44,573.7955	27,659.8777	154,117.488	-149,715.7077	-6,818.6404	110,433.3115	-181,364.4325	-4,058.7317	101,358.2824	18,827.8424	29,853.1498	97,437.5381	-6,504.4002	126,534.283	191,225.5775
Opening cash	CASH		486,000	492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	339,326.2395	420,682.1088	567,960.4875	612,534.283	640,194.1607	794,311.6488	644,595.941	637,777.3006	748,210.6121	566,846.1796	562,787.4479	664,145.7304	682,973.5728	712,826.7226	810,264.2607
CLOSING CASH (to balance sheet)	CASH		492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	339,326.2395	420,682.1088	567,960.4875	612,534.283	640,194.1607	794,311.6488	644,595.941	637,777.3006	748,210.6121	566,846.1796	562,787.4479	664,145.7304	682,973.5728	712,826.7226	810,264.2607	803,759.8606	612,534.283	803,759.8606
Free cash flow (operating less capex)	CASH	memo	9,554.9305	186,322.6997	-93,565.4231	-55,791.1562	83,036.7792	-45,070.3548	8,676.5097	92,724.0644	-25,561.8099	84,355.8693	150,278.3787	47,573.7955	30,659.8777	157,117.488	-146,715.7077	-3,818.6404	113,433.3115	35,874.7097	-1,058.7317	104,358.2824	21,827.8424	32,853.1498	100,437.5381	-3,504.4002	442,534.283	441,464.7197
Receipts: GBP clients (converted on receipt)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	172,463.17	302,527.7704	158,536.4377	226,595.7984	265,649.122	171,088.074	261,480.4541	240,778.9536	183,153.1745	285,898.5792	244,862.9471	253,377.9071	201,705.7568	222,025.3106	188,467.8732	200,921.0083	231,387.6116	204,598.9483	203,355.2105	225,121.5228	192,057.6482	199,241.4516	242,272.9555	211,311.1349	2,766,412.3884	2,522,466.4323
Receipts: USD clients (converted on receipt)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	91,337.7244	122,374.6839	99,282.2383	108,132.819	105,239.8441	85,004.1063	174,841.9074	130,935.67	121,900.4484	139,882.9596	181,821.8696	196,859.5895	201,082.8217	154,483.3994	123,434.8051	123,434.8051	127,727.6647	131,240.0828	120,891.6868	116,661.7799	100,404.0186	104,210.9348	111,824.7672	119,438.5995	1,557,613.8606	1,534,835.3656
Receipts: EUR clients	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	186,307.37	218,587.83	184,863.9	161,420.07	226,869.25	228,033.51	182,256.77	230,382.82	195,566.814	181,323.3848	279,754.2819	208,969.2755	206,246.1866	273,413.277	154,937.902	251,231.4868	277,133.5544	227,426.2221	257,056.9035	259,331.5109	226,359.0775	248,742.6726	283,597.6836	257,004.95	2,484,335.2761	2,922,481.427
Net salaries (month end)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-124,429.784	-123,889.9054	-125,328.3284	-129,235.913	-123,763.7265	-123,677.2557	-126,997.5908	-127,643.4901	-126,234.392	-130,072.8	-133,008.904	-133,008.904	-140,518.9975	-140,518.9975	-141,806.3775	-146,360.6134	-146,360.6134	-146,360.6134	-146,360.6134	-146,360.6134	-146,360.6134	-146,360.6134	-146,360.6134	-146,360.6134	-1,527,290.9939	-1,740,089.8929
Net bonus (March)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	-73,899.4619	0	0	0	0	0	0	0	0	0	0	0	-72,822.5497	0	0	0	0	0	0	0	0	0	-73,899.4619	-72,822.5497
Payroll taxes (TSD, 10th)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-86,983.07	-86,572.816	-86,152.0106	-144,873.7197	-90,044.893	-86,327.6955	-86,260.2963	-88,574.2792	-89,077.7219	-87,979.408	-90,697.2	-92,711.696	-92,711.696	-98,442.0825	-98,442.0825	-156,097.0548	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-1,116,254.8062	-1,266,586.1181
Freelancers	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-23,309.71	-5,812.3	-6,536.96	-6,054.52	-6,387.02	-11,482.73	-38,207.84	-57,873.22	-29,504.0588	-10,505.12	-6,028	-6,028	-6,118.42	-6,299.26	-6,299.26	-6,299.26	-6,299.26	-6,299.26	-12,230.1034	-18,160.9468	-6,299.26	-6,299.26	-6,299.26	-6,299.26	-207,729.4788	-93,202.8102
Media platforms	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-160,513.37	-194,305.35	-194,859.5	-210,132.63	-243,567.19	-255,796.31	-232,273.71	-187,582.6	-235,049.1532	-233,829.2973	-257,212.227	-315,669.5513	-280,595.1567	-197,819.9027	-197,819.9027	-216,817.8324	-221,807.6646	-221,807.6646	-210,717.2813	-181,939.4124	-192,641.7308	-214,046.3676	-231,051.0043	-283,562.5962	-2,720,790.8888	-2,650,626.5163
Production suppliers	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	0	0	0	0	-16.72	-5,223.94	-6,911.34	-8,320.0556	-14,716.3889	-13,559.0556	-5,812.5	0	0	0	0	0	0	0	0	0	0	0	-48,747.5	-5,812.5
Overhead suppliers	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-37,789.4	-41,784.96	-41,958.93	-53,072.1	-46,559.27	-45,029.6	-39,146.74	-40,085.85	-39,471.626	-44,090	-47,438	-45,206	-43,364.696	-44,620.34	-44,006.54	-46,684.94	-46,461.74	-43,113.74	-43,113.74	-43,113.74	-43,113.74	-43,113.74	-43,113.74	-43,113.74	-521,632.476	-526,934.436
VAT paid / (credited)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-3,800	-2,576.2531	-3,192.8083	-1,660.9608	-2,835.3374	-3,472.4539	-1,653.3648	0	3,930.0451	-878.3735	0	-1,627.7696	-3,838.3811	-1,153.6763	-2,493.7356	0	4,633.6489	-3,303.3753	-3,022.4793	-703.9283	-2,113.6675	-3,072.0379	-3,997.3602	-5,500.9848	-17,767.2764	-24,565.9774
Income tax on distributions (10th)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	-60,426.4247	0	0	0	0	0	-78,974.36	-60,426.4247
Capex incl. VAT	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-3,224	-1,736	-3,844	-6,448	-1,116	-2,976	-5,952	-1,984	-3,472	-6,696	-6,696	-3,472	-5,079.04	-3,628.24	-49,557.84	-6,852.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-47,616	-94,143.28
Loan interest	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-336	-322	-308	-294	-280	-266	-252	-238	-224	-210	-196	-182	-5,124	-3,108
Loan principal	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-36,000	-36,000
Dividends	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	0	0	0	-280,000	0	0	0	0	0	0	0	0	0	0	0	-214,239.1422	0	0	0	0	0	0	-280,000	-214,239.1422
NET CASH FLOW, DIRECT METHOD	DIRECT METHOD (built from the cash lines of each schedule)		6,554.9305	183,322.6997	-96,565.4231	-58,791.1562	80,036.7792	-328,070.3548	5,676.5097	89,724.0644	-28,561.8099	81,355.8693	147,278.3787	44,573.7955	27,659.8777	154,117.488	-149,715.7077	-6,818.6404	110,433.3115	-181,364.4325	-4,058.7317	101,358.2824	18,827.8424	29,853.1498	97,437.5381	-6,504.4002	126,534.283	191,225.5775
CHECK: indirect less direct (must be zero)	DIRECT METHOD (built from the cash lines of each schedule)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Operating drivers

Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

RETAINERS: FEES, SCOPED AND WORKED HOURS, OVERSERVICING AND INVOICING (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Active weight (1 in term; renewal or win probability after it)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Fee recognised (GBP)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	504,000	524,160
Fee recognised (EUR at the monthly average rate)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	fee / average rate	48,309.1787	48,206.5997	48,148.0208	48,426.7085	48,457.4382	48,582.996	48,908.2969	49,059.1162	49,037.9227	49,037.9227	49,037.9227	49,037.9227	50,999.4396	50,999.4396	50,999.4396	50,999.4396	50,999.4396	50,999.4396	50,999.4396	50,999.4396	50,999.4396	50,999.4396	50,999.4396	50,999.4396	584,250.0457	611,993.2748
Scoped hours	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	scoped hours x weight	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	5,160	5,160
Hours worked	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	514.8	496.4	508.5	486.3	483.1	490.1	489.4	494.7	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	475.7887	5,866.455	5,709.465
Overservice hours (worked above scope)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	worked - scoped	84.8	66.4	78.5	56.3	53.1	60.1	59.4	64.7	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	706.455	549.465
Overservice cost at standard (EUR)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	4,585.5	3,590.533	4,244.8319	3,044.3827	2,871.3449	3,249.865	3,212.013	3,498.6067	2,475.9943	2,475.9943	2,475.9943	2,475.9943	2,587.414	2,587.414	2,587.414	2,587.414	2,587.414	2,587.414	2,587.414	2,587.414	2,587.414	2,587.414	2,587.414	2,587.414	38,201.0542	31,048.9679
Invoiced (monthly in advance)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	A: sales ledger; F: billing rule	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	43,680	504,000	524,160
Active weight (1 in term; renewal or win probability after it)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	1	0.925
Fee recognised (GBP)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	14,040	14,040	14,040	14,040	14,040	14,040	14,040	14,040	14,040	180,000	171,360
Fee recognised (EUR at the monthly average rate)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	fee / average rate	17,253.2781	17,216.6428	17,195.7217	17,295.253	17,306.2279	17,351.07	17,467.2489	17,521.1129	17,513.5438	17,513.5438	17,513.5438	17,513.5438	17,513.5438	17,513.5438	17,513.5438	16,392.677	16,392.677	16,392.677	16,392.677	16,392.677	16,392.677	16,392.677	16,392.677	16,392.677	208,660.7306	200,074.7245
Scoped hours	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	scoped hours x weight	180	180	180	180	180	180	180	180	180	180	180	180	180	180	180	162	162	162	162	162	162	162	162	162	2,160	1,998
Hours worked	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	197.3	199.6	191.4	197	191.6	200.9	199.6	205.1	192.4688	192.4688	192.4688	192.4688	192.4688	192.4688	192.4688	173.2219	173.2219	173.2219	173.2219	173.2219	173.2219	173.2219	173.2219	173.2219	2,352.375	2,136.4031
Overservice hours (worked above scope)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	worked - scoped	17.3	19.6	11.4	17	11.6	20.9	19.6	25.1	12.4688	12.4688	12.4688	12.4688	12.4688	12.4688	12.4688	11.2219	11.2219	11.2219	11.2219	11.2219	11.2219	11.2219	11.2219	11.2219	192.375	138.4031
Overservice cost at standard (EUR)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	804.8583	911.8626	530.369	790.9012	539.6738	972.3432	911.8626	1,167.7423	580.0911	580.0911	580.0911	580.0911	606.1952	606.1952	606.1952	545.5757	545.5757	545.5757	545.5757	545.5757	545.5757	545.5757	545.5757	545.5757	8,949.9775	6,728.7671
Invoiced (quarterly in advance)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	A: sales ledger; F: billing rule	45,000	0	0	45,000	0	0	45,000	0	0	45,000	0	0	45,000	0	0	42,120	0	0	42,120	0	0	42,120	0	0	180,000	171,360
Active weight (1 in term; renewal or win probability after it)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.9	0.9	0.9	0.9	0.9	0.9	1	0.95
Fee recognised (GBP)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	16,848	16,848	16,848	16,848	16,848	16,848	216,000	209,088
Fee recognised (EUR at the monthly average rate)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	fee / average rate	20,703.9337	20,659.9713	20,634.866	20,754.3036	20,767.4735	20,821.284	20,960.6987	21,025.3355	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	19,671.2124	19,671.2124	19,671.2124	19,671.2124	19,671.2124	19,671.2124	250,392.8767	244,124.7898
Scoped hours	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	scoped hours x weight	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	171	171	171	171	171	171	2,280	2,166
Hours worked	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	209.5	214	205.8	214.7	207.3	195.5	216.4	199.9	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	182.2691	182.2691	182.2691	182.2691	182.2691	182.2691	2,473.185	2,308.7422
Overservice hours (worked above scope)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	worked - scoped	19.5	24	15.8	24.7	17.3	5.5	26.4	9.9	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	11.2691	11.2691	11.2691	11.2691	11.2691	11.2691	193.185	142.7423
Overservice cost at standard (EUR)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	1,054.4487	1,297.783	854.3738	1,335.635	935.4853	297.4086	1,427.5613	535.3355	677.0777	677.0777	677.0777	677.0777	707.5462	707.5462	707.5462	707.5462	707.5462	707.5462	636.7916	636.7916	636.7916	636.7916	636.7916	636.7916	10,446.3422	8,066.027
Invoiced (monthly in advance)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	A: sales ledger; F: billing rule	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	16,848	16,848	16,848	16,848	16,848	16,848	216,000	209,088
Active weight (1 in term; renewal or win probability after it)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	Client_Register	0	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.5833	0.9125
Fee recognised (GBP)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,166	10,166	10,166	10,166	10,166	10,166	10,166	80,500	128,662
Fee recognised (EUR at the monthly average rate)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	fee / average rate	0	0	0	0	0	13,302.487	13,391.5575	13,432.8533	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	93,835.0987	150,221.8382
Scoped hours	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	scoped hours x weight	0	0	0	0	0	140	140	140	140	140	140	140	140	140	140	140	140	119	119	119	119	119	119	119	980	1,533
Hours worked	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	153.2	146.2	148.3	146.4633	146.4633	146.4633	146.4633	146.4633	146.4633	146.4633	146.4633	146.4633	124.4938	124.4938	124.4938	124.4938	124.4938	124.4938	124.4938	1,033.5533	1,603.7735
Overservice hours (worked above scope)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	worked - scoped	0	0	0	0	0	13.2	6.2	8.3	6.4633	6.4633	6.4633	6.4633	6.4633	6.4633	6.4633	6.4633	6.4633	5.4938	5.4938	5.4938	5.4938	5.4938	5.4938	5.4938	53.5533	70.7735
Overservice cost at standard (EUR)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	0	0	0	0	0	614.1115	288.4463	386.1459	300.6975	300.6975	300.6975	300.6975	314.2289	314.2289	314.2289	314.2289	314.2289	267.0946	267.0946	267.0946	267.0946	267.0946	267.0946	267.0946	2,491.4938	3,440.8067
Invoiced (monthly in advance)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	A: sales ledger; F: billing rule	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,166	10,166	10,166	10,166	10,166	10,166	10,166	80,500	128,662
Active weight (1 in term; renewal or win probability after it)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	Client_Register	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.75	0.925
Fee recognised (USD)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	A: ledger; F: fee x weight x renewal uplift	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	234,000	297,024
Fee recognised (EUR at the monthly average rate)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	fee / average rate	0	0	0	22,413.7931	22,273.6229	22,571.4038	22,728.2661	22,529.3531	22,421.5247	22,421.5247	22,421.5247	22,421.5247	22,421.5247	22,421.5247	22,421.5247	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	202,202.5377	256,143.4978
Scoped hours	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	scoped hours x weight	0	0	0	215	215	215	215	215	215	215	215	215	215	215	215	193.5	193.5	193.5	193.5	193.5	193.5	193.5	193.5	193.5	1,935	2,386.5
Hours worked	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	251.1	255.8	244.2	240.5	235.1	236.238	236.238	236.238	236.238	236.238	236.238	236.238	212.6142	212.6142	212.6142	212.6142	212.6142	212.6142	212.6142	212.6142	212.6142	2,171.652	2,622.2418
Overservice hours (worked above scope)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	worked - scoped	0	0	0	36.1	40.8	29.2	25.5	20.1	21.238	21.238	21.238	21.238	21.238	21.238	21.238	19.1142	19.1142	19.1142	19.1142	19.1142	19.1142	19.1142	19.1142	19.1142	236.652	235.7418
Overservice cost at standard (EUR)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	overservice hours x standard cost rate of the work type	0	0	0	1,952.082	2,206.2311	1,578.9693	1,378.8945	1,086.8933	1,148.4298	1,148.4298	1,148.4298	1,148.4298	1,200.1092	1,200.1092	1,200.1092	1,080.0982	1,080.0982	1,080.0982	1,080.0982	1,080.0982	1,080.0982	1,080.0982	1,080.0982	1,080.0982	12,796.7894	13,321.2117
Invoiced (monthly in advance)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	A: sales ledger; F: billing rule	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	234,000	297,024
Active weight (1 in term; renewal or win probability after it)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.9	0.9	0.9	0.9	0.9	0.9	1	0.95
Fee recognised (USD)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	A: ledger; F: fee x weight x renewal uplift	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	10,296	10,296	10,296	10,296	10,296	10,296	132,000	127,776
Fee recognised (EUR at the monthly average rate)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	fee / average rate	9,294.8583	9,273.3097	9,440.8445	9,482.7586	9,423.4558	9,549.4401	9,615.8049	9,531.6494	9,486.0297	9,486.0297	9,486.0297	9,486.0297	9,486.0297	9,486.0297	9,486.0297	9,486.0297	9,486.0297	9,486.0297	8,878.9238	8,878.9238	8,878.9238	8,878.9238	8,878.9238	8,878.9238	113,556.24	110,189.7206
Scoped hours	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	scoped hours x weight	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	85.5	85.5	85.5	85.5	85.5	85.5	1,140	1,083
Hours worked	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	95.2	98.3	102.8	107.6	110.5	94.7	104.2	102.6	99.8912	99.8912	99.8912	99.8912	99.8912	99.8912	99.8912	99.8912	99.8912	99.8912	89.9021	89.9021	89.9021	89.9021	89.9021	89.9021	1,215.465	1,138.7603
Overservice hours (worked above scope)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	worked - scoped	0.2	3.3	7.8	12.6	15.5	-0.3	9.2	7.6	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.4021	4.4021	4.4021	4.4021	4.4021	4.4021	75.465	55.7603
Overservice cost at standard (EUR)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	overservice hours x standard cost rate of the work type	9.3343	154.0157	364.037	588.0598	723.4069	-14.0014	429.377	354.7027	228.2815	228.2815	228.2815	228.2815	238.5542	238.5542	238.5542	238.5542	238.5542	238.5542	214.6988	214.6988	214.6988	214.6988	214.6988	214.6988	3,522.058	2,719.518
Invoiced (monthly in advance)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	A: sales ledger; F: billing rule	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	10,296	10,296	10,296	10,296	10,296	10,296	132,000	127,776
Active weight (1 in term; renewal or win probability after it)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	1	0.85
Fee recognised (EUR)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	222,000	196,248
Fee recognised (EUR at the monthly average rate)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	fee / average rate	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	222,000	196,248
Scoped hours	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	scoped hours x weight	190	190	190	190	190	190	190	190	190	190	190	190	161.5	161.5	161.5	161.5	161.5	161.5	161.5	161.5	161.5	161.5	161.5	161.5	2,280	1,938
Hours worked	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	245.6	240.6	251	231.6	238.5	233.5	245.4	234.3	225.0437	225.0437	225.0437	225.0437	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	2,820.675	2,295.4462
Overservice hours (worked above scope)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	worked - scoped	55.6	50.6	61	41.6	48.5	43.5	55.4	44.3	35.0438	35.0438	35.0438	35.0438	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	540.675	357.4463
Overservice cost at standard (EUR)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	2,586.7121	2,354.0941	2,837.9396	1,935.3817	2,256.3946	2,023.7766	2,577.4074	2,060.9955	1,630.3614	1,630.3614	1,630.3614	1,630.3614	1,448.1685	1,448.1685	1,448.1685	1,448.1685	1,448.1685	1,448.1685	1,448.1685	1,448.1685	1,448.1685	1,448.1685	1,448.1685	1,448.1685	25,154.1472	17,378.0221
Invoiced (monthly in advance)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	A: sales ledger; F: billing rule	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	222,000	196,248
Active weight (1 in term; renewal or win probability after it)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.9	0.9	0.9	1	0.975
Fee recognised (EUR)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	14,976	14,976	14,976	192,000	188,928
Fee recognised (EUR at the monthly average rate)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	fee / average rate	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	14,976	14,976	14,976	192,000	188,928
Scoped hours	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	scoped hours x weight	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	148.5	148.5	148.5	1,980	1,930.5
Hours worked	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	178.1	172.8	166.2	163.9	177	178.5	180.7	168.5	170.7488	170.7488	170.7488	170.7488	170.7488	170.7488	170.7488	170.7488	170.7488	170.7488	170.7488	170.7488	170.7488	153.6739	153.6739	153.6739	2,068.695	1,997.7604
Overservice hours (worked above scope)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	worked - scoped	13.1	7.8	1.2	-1.1	12	13.5	15.7	3.5	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.1739	5.1739	5.1739	88.695	67.2604
Overservice cost at standard (EUR)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	611.3955	364.037	56.0057	-51.3386	560.0569	630.064	732.7411	163.3499	268.3023	268.3023	268.3023	268.3023	280.3759	280.3759	280.3759	280.3759	280.3759	280.3759	280.3759	280.3759	280.3759	252.3383	252.3383	252.3383	4,139.5208	3,280.3977
Invoiced (quarterly in advance)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	A: sales ledger; F: billing rule	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	44,928	0	0	192,000	188,928
Active weight (1 in term; renewal or win probability after it)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	1	0.875
Fee recognised (EUR)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	168,000	151,760
Fee recognised (EUR at the monthly average rate)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	fee / average rate	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	168,000	151,760
Scoped hours	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	scoped hours x weight	145	145	145	145	145	145	145	145	145	145	145	145	145	145	123.25	123.25	123.25	123.25	123.25	123.25	123.25	123.25	123.25	123.25	1,740	1,522.5
Hours worked	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	161.4	155	163.4	151.2	153.9	147.7	157.4	159.2	152.805	152.805	152.805	152.805	152.805	152.805	129.8843	129.8843	129.8843	129.8843	129.8843	129.8843	129.8843	129.8843	129.8843	129.8843	1,860.42	1,604.4525
Overservice hours (worked above scope)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	worked - scoped	16.4	10	18.4	6.2	8.9	2.7	12.4	14.2	7.805	7.805	7.805	7.805	7.805	7.805	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	120.42	81.9525
Overservice cost at standard (EUR)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	765.4111	466.7141	858.754	289.3627	415.3756	126.0128	578.7255	662.734	364.2704	364.2704	364.2704	364.2704	380.6625	380.6625	323.5631	323.5631	323.5631	323.5631	323.5631	323.5631	323.5631	323.5631	323.5631	323.5631	5,620.1713	3,996.9565
Invoiced (monthly in advance)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	A: sales ledger; F: billing rule	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	168,000	151,760
Active weight (1 in term; renewal or win probability after it)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	Client_Register	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.75	0
Fee recognised (EUR)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	A: ledger; F: fee x weight x renewal uplift	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Fee recognised (EUR at the monthly average rate)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	fee / average rate	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Scoped hours	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	scoped hours x weight	140	140	140	140	140	140	140	140	140	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,260	0
Hours worked	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	A: timesheets; F: scoped x (1 + forecast overservicing)	173.7	166.3	168.2	171.9	166.6	163.6	160.1	174.5	159.6788	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,504.5787	0
Overservice hours (worked above scope)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	worked - scoped	33.7	26.3	28.2	31.9	26.6	23.6	20.1	34.5	19.6788	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	244.5788	0
Overservice cost at standard (EUR)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	overservice hours x standard cost rate of the work type	1,567.8453	1,223.5707	1,311.9655	1,484.1028	1,237.5277	1,097.9569	935.1244	1,605.0642	915.5263	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,378.6838	0
Invoiced (monthly in advance)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	A: sales ledger; F: billing rule	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Active weight (1 in term; renewal or win probability after it)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	1	0.95
Fee recognised (EUR)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	108,000	106,704
Fee recognised (EUR at the monthly average rate)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	fee / average rate	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	108,000	106,704
Scoped hours	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	scoped hours x weight	95	95	95	95	95	95	95	95	95	95	95	95	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	1,140	1,083
Hours worked	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	104	95.3	100.5	104.8	99.5	102.4	96.2	102.7	98.9725	98.9725	98.9725	98.9725	94.0239	94.0239	94.0239	94.0239	94.0239	94.0239	94.0239	94.0239	94.0239	94.0239	94.0239	94.0239	1,201.29	1,128.2865
Overservice hours (worked above scope)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	worked - scoped	9	0.3	5.5	9.8	4.5	7.4	1.2	7.7	3.9725	3.9725	3.9725	3.9725	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	61.29	45.2865
Overservice cost at standard (EUR)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	420.0427	14.0014	256.6928	457.3798	210.0213	345.3684	56.0057	359.3699	185.4022	185.4022	185.4022	185.4022	184.058	184.058	184.058	184.058	184.058	184.058	184.058	184.058	184.058	184.058	184.058	184.058	2,860.4908	2,208.6962
Invoiced (monthly in advance)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	A: sales ledger; F: billing rule	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	108,000	106,704
Active weight (1 in term; renewal or win probability after it)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0.45	0	0.45
Fee recognised (USD)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	0	81,000
Fee recognised (EUR at the monthly average rate)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	0	69,851.673
Scoped hours	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	58.5	58.5	58.5	58.5	58.5	58.5	58.5	58.5	58.5	58.5	58.5	58.5	0	702
Hours worked	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	64.35	64.35	64.35	64.35	64.35	64.35	64.35	64.35	64.35	64.35	64.35	64.35	0	772.2
Overservice hours (worked above scope)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	0	70.2
Overservice cost at standard (EUR)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	330.5697	330.5697	330.5697	330.5697	330.5697	330.5697	330.5697	330.5697	330.5697	330.5697	330.5697	330.5697	0	3,966.836
Invoiced (monthly in advance)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	0	81,000
Active weight (1 in term; renewal or win probability after it)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0	0.25
Fee recognised (GBP)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,600	3,600	3,600	3,600	3,600	3,600	3,600	3,600	3,600	3,600	0	36,000
Fee recognised (EUR at the monthly average rate)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,203.2505	4,203.2505	4,203.2505	4,203.2505	4,203.2505	4,203.2505	4,203.2505	4,203.2505	4,203.2505	4,203.2505	0	42,032.5051
Scoped hours	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	0	0	37.5	37.5	37.5	37.5	37.5	37.5	37.5	37.5	37.5	37.5	0	375
Hours worked	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	41.25	41.25	41.25	41.25	41.25	41.25	41.25	41.25	41.25	41.25	0	412.5
Overservice hours (worked above scope)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3.75	3.75	3.75	3.75	3.75	3.75	3.75	3.75	3.75	3.75	0	37.5
Overservice cost at standard (EUR)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	182.8936	182.8936	182.8936	182.8936	182.8936	182.8936	182.8936	182.8936	182.8936	182.8936	0	1,828.9359
Invoiced (monthly in advance)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,600	3,600	3,600	3,600	3,600	3,600	3,600	3,600	3,600	3,600	0	36,000
Active weight (1 in term; renewal or win probability after it)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0	0.3
Fee recognised (EUR)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,400	4,400	4,400	4,400	4,400	4,400	4,400	4,400	4,400	0	39,600
Fee recognised (EUR at the monthly average rate)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,400	4,400	4,400	4,400	4,400	4,400	4,400	4,400	4,400	0	39,600
Scoped hours	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	44	44	44	44	44	44	44	44	44	0	396
Hours worked	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	48.4	48.4	48.4	48.4	48.4	48.4	48.4	48.4	48.4	0	435.6
Overservice hours (worked above scope)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4.4	4.4	4.4	4.4	4.4	4.4	4.4	4.4	4.4	0	39.6
Overservice cost at standard (EUR)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	213.9155	213.9155	213.9155	213.9155	213.9155	213.9155	213.9155	213.9155	213.9155	0	1,925.2396
Invoiced (monthly in advance)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,400	4,400	4,400	4,400	4,400	4,400	4,400	4,400	4,400	0	39,600
Active weight (1 in term; renewal or win probability after it)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0	0.2042
Fee recognised (GBP)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,000	7,000	7,000	7,000	7,000	7,000	7,000	0	49,000
Fee recognised (EUR at the monthly average rate)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8,172.9871	8,172.9871	8,172.9871	8,172.9871	8,172.9871	8,172.9871	8,172.9871	0	57,210.9098
Scoped hours	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	73.5	73.5	73.5	73.5	73.5	73.5	73.5	0	514.5
Hours worked	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	80.85	80.85	80.85	80.85	80.85	80.85	80.85	0	565.95
Overservice hours (worked above scope)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7.35	7.35	7.35	7.35	7.35	7.35	7.35	0	51.45
Overservice cost at standard (EUR)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	357.3361	357.3361	357.3361	357.3361	357.3361	357.3361	357.3361	0	2,501.353
Invoiced (monthly in advance)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,000	7,000	7,000	7,000	7,000	7,000	7,000	0	49,000
Brand and content retainers: fees (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	49,253.2781	49,216.6428	49,195.7217	49,295.253	49,306.2279	62,653.557	62,858.8064	62,953.9662	62,940.5941	49,440.5941	49,440.5941	49,440.5941	47,294.5941	47,294.5941	47,294.5941	50,573.7273	50,573.7273	57,189.1765	57,189.1765	57,189.1765	57,189.1765	57,189.1765	57,189.1765	57,189.1765	645,995.8294	643,355.4724
Brand and content retainers: scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	510	510	510	510	510	650	650	650	650	510	510	510	481.5	481.5	481.5	507.5	507.5	560	560	560	560	560	560	560	6,680	6,379.5
Brand and content retainers: hours worked	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	616.6	606.5	610.6	600.5	596.7	751.2	751.3	762.2	723.6546	563.9758	563.9758	563.9758	530.2193	530.2193	530.2193	559.3724	559.3724	618.2529	618.2529	618.2529	618.2529	618.2529	618.2529	618.2529	7,711.1821	7,037.1729
Performance retainers: fees (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	48,294.8583	48,273.3097	48,440.8445	48,482.7586	48,423.4558	48,549.4401	48,615.8049	48,531.6494	48,486.0297	48,486.0297	48,486.0297	48,486.0297	48,378.0297	48,378.0297	50,957.2802	50,957.2802	50,957.2802	50,957.2802	50,350.1743	50,350.1743	50,350.1743	49,326.1743	49,326.1743	49,326.1743	581,556.24	599,614.2257
Performance retainers: scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	500	500	500	500	500	500	500	500	500	500	500	500	495.25	495.25	511	511	511	511	501.5	501.5	501.5	485	485	485	6,000	5,994
Performance retainers: hours worked	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	538.7	521.4	532.9	527.5	540.9	523.3	538.5	533	522.4175	522.4175	522.4175	522.4175	517.4689	517.4689	535.7981	535.7981	535.7981	535.7981	525.809	525.809	525.809	508.7341	508.7341	508.7341	6,345.87	6,281.7596
Product design and development retainers: fees (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	69,013.1125	68,866.571	68,782.8868	91,594.8052	91,498.5346	91,975.6837	92,597.2617	92,613.8049	92,475.6999	92,475.6999	92,475.6999	92,475.6999	100,258.1895	100,258.1895	100,258.1895	98,823.212	98,823.212	98,823.212	97,478.1718	97,478.1718	97,478.1718	97,478.1718	97,478.1718	97,478.1718	1,036,845.4601	1,182,113.2354
Product design and development retainers: scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	620	620	620	835	835	835	835	835	835	835	835	835	893.5	893.5	893.5	872	872	872	853	853	853	853	853	853	9,375	10,414.5
Product design and development retainers: hours worked	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	724.3	710.4	714.3	952.1	946.2	929.8	946.3	929.7	914.548	914.548	914.548	914.548	978.898	978.898	978.898	955.2742	955.2742	955.2742	935.0221	935.0221	935.0221	935.0221	935.0221	935.0221	10,511.292	11,412.649
RETAINER FEES (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	all contracts	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	203,902.3236	190,402.3236	190,402.3236	190,402.3236	195,930.8133	195,930.8133	198,510.0638	200,354.2194	200,354.2194	206,969.6687	205,017.5226	205,017.5226	205,017.5226	203,993.5226	203,993.5226	203,993.5226	2,264,397.5294	2,425,082.9336
of which contracts signed at the last actual month	TOTALS BY RETAINER TYPE (EUR and hours)		166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	203,902.3236	190,402.3236	190,402.3236	190,402.3236	190,109.8405	190,109.8405	188,485.8405	185,929.9961	185,929.9961	184,372.4583	182,420.3122	182,420.3122	182,420.3122	181,396.3122	181,396.3122	181,396.3122	2,264,397.5294	2,216,387.8457
of which pipeline contracts (win-weighted)	TOTALS BY RETAINER TYPE (EUR and hours)		0	0	0	0	0	0	0	0	0	0	0	0	5,820.9727	5,820.9727	10,024.2233	14,424.2233	14,424.2233	22,597.2104	22,597.2104	22,597.2104	22,597.2104	22,597.2104	22,597.2104	22,597.2104	0	208,695.0879
Scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)		1,630	1,630	1,630	1,845	1,845	1,985	1,985	1,985	1,985	1,845	1,845	1,845	1,870.25	1,870.25	1,886	1,890.5	1,890.5	1,943	1,914.5	1,914.5	1,914.5	1,898	1,898	1,898	22,055	22,788
Hours worked	TOTALS BY RETAINER TYPE (EUR and hours)		1,879.6	1,838.3	1,857.8	2,080.1	2,083.8	2,204.3	2,236.1	2,224.9	2,160.6201	2,000.9413	2,000.9413	2,000.9413	2,026.5861	2,026.5861	2,044.9154	2,050.4447	2,050.4447	2,109.3252	2,079.084	2,079.084	2,079.084	2,062.0091	2,062.0091	2,062.0091	24,568.3441	24,731.5815
Overservice hours	TOTALS BY RETAINER TYPE (EUR and hours)		249.6	208.3	227.8	235.1	238.8	219.3	251.1	239.9	175.6201	155.9413	155.9413	155.9413	156.3361	156.3361	158.9154	159.9447	159.9447	166.3252	164.584	164.584	164.584	164.0091	164.0091	164.0091	2,513.3441	1,943.5816
Overservice cost at standard (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)		12,405.548	10,376.6116	11,314.9693	11,825.9492	11,955.5181	10,921.8751	12,528.1587	11,880.9399	8,774.4345	7,858.9082	7,858.9082	7,858.9082	8,277.8823	8,277.8823	8,403.6765	8,436.9616	8,436.9616	8,747.1634	8,652.5534	8,652.5534	8,652.5534	8,624.5158	8,624.5158	8,624.5158	125,560.7289	102,411.7353
Overservicing % (hours above scope / scoped hours)	TOTALS BY RETAINER TYPE (EUR and hours)		15.31%	12.78%	13.98%	12.74%	12.94%	11.05%	12.65%	12.09%	8.85%	8.45%	8.45%	8.45%	8.36%	8.36%	8.43%	8.46%	8.46%	8.56%	8.6%	8.6%	8.6%	8.64%	8.64%	8.64%	11.4%	8.53%
Active retainers (weighted count)	TOTALS BY RETAINER TYPE (EUR and hours)		9	9	9	10	10	11	11	11	11	10	10	10	10.25	10.25	10.4	10.6	10.6	10.8	10.6	10.6	10.6	10.5	10.5	10.5	10.0833	10.5167
Retainer fee per hour worked (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)		88.6153	90.4948	89.5788	91.0402	90.8092	92.1738	91.2624	91.7342	94.3721	95.1564	95.1564	95.1564	96.6802	96.6802	97.075	97.7126	97.7126	98.1213	98.6095	98.6095	98.6095	98.9295	98.9295	98.9295	92.1673	98.0561

FIXED-FEE PROJECTS: HOURS, PERCENTAGE OF COMPLETION, MILESTONE INVOICING AND PRODUCTION RECHARGES (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Programme position (elapsed share of duration)	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	effective dates, Project_Register	0.8571	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	3x^2 - 2x^3	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed		0.8017	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: timesheets; F: remaining hours x S-curve	133.4	51.6	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	185	0
Hours to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	opening + hours	738.4	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790
Estimated hours at completion	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: hours to date + estimate to complete; F: Project_Register	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790
Percentage complete	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	hours to date / hours at completion	93.47%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: contract incl. approved change requests; F: probability-weighted fee	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
Fee revenue to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: ledger; F: % complete x contract value	69,166.58	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
FEE REVENUE IN THE MONTH (EUR)	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	change in revenue to date	10,258.69	4,833.42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15,092.11	0
Milestone invoicing due to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	contract value x (deposit at start + interim at mid-point + balance at completion)	51,800	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
Fee invoiced	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: sales ledger; F: tops up to the milestone due	0	22,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	22,200	0
Fee invoiced to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed		51,800	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
Contract position: revenue to date less invoiced	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	+ unbilled work / - invoiced ahead	17,366.58	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed		4,833.42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	effective dates, Project_Register	0.625	0.75	0.875	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	3x^2 - 2x^3	0.6836	0.8438	0.957	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed		0.5	0.6836	0.8438	0.957	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: timesheets; F: remaining hours x S-curve	255.6	228.2	150.5	58.9	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	693.2	0
Hours to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	opening + hours	862.4	1,090.6	1,241.1	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300
Estimated hours at completion	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: hours to date + estimate to complete; F: Project_Register	1,250	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300
Percentage complete	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	hours to date / hours at completion	68.99%	83.89%	95.47%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: contract incl. approved change requests; F: probability-weighted fee	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee revenue to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: ledger; F: % complete x contract value	82,790.4	100,670.77	114,563.08	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
FEE REVENUE IN THE MONTH (GBP)	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	change in revenue to date	24,537.6	17,880.37	13,892.31	5,436.92	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,747.2	0
Milestone invoicing due to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	contract value x (deposit at start + interim at mid-point + balance at completion)	84,000	84,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee invoiced	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: sales ledger; F: tops up to the milestone due	48,000	0	0	36,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	84,000	0
Fee invoiced to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed		84,000	84,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Contract position: revenue to date less invoiced	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	+ unbilled work / - invoiced ahead	-1,209.6	16,670.77	30,563.08	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed		37,209.6	19,329.23	5,436.92	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	effective dates, Project_Register	0.6667	0.8333	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	3x^2 - 2x^3	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed		0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: timesheets; F: remaining hours x S-curve	246.3	156.6	91.3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	494.2	0
Hours to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	opening + hours	752.1	908.7	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
Estimated hours at completion	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: hours to date + estimate to complete; F: Project_Register	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
Percentage complete	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	hours to date / hours at completion	75.21%	90.87%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: contract incl. approved change requests; F: probability-weighted fee	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
Fee revenue to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: ledger; F: % complete x contract value	71,449.5	86,326.5	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
FEE REVENUE IN THE MONTH (GBP)	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	change in revenue to date	23,398.5	14,877	8,673.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	46,949	0
Milestone invoicing due to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	contract value x (deposit at start + interim at mid-point + balance at completion)	66,500	66,500	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
Fee invoiced	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: sales ledger; F: tops up to the milestone due	38,000	0	28,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	66,500	0
Fee invoiced to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed		66,500	66,500	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
Contract position: revenue to date less invoiced	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	+ unbilled work / - invoiced ahead	4,949.5	19,826.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed		23,550.5	8,673.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	effective dates, Project_Register	0	0.1111	0.2222	0.3333	0.4444	0.5556	0.6667	0.7778	0.8889	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	3x^2 - 2x^3	0	0.0343	0.1262	0.2593	0.417	0.583	0.7407	0.8738	0.9657	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress		0	0	0.0343	0.1262	0.2593	0.417	0.583	0.7407	0.8738	0.9657	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: timesheets; F: remaining hours x S-curve	0	74.8	229.1	313.3	455.4	504.2	476.8	433.7	336.9663	125.7337	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,950	0
Hours to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	opening + hours	0	74.8	303.9	617.2	1,072.6	1,576.8	2,053.6	2,487.3	2,824.2663	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950
Estimated hours at completion	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: hours to date + estimate to complete; F: Project_Register	2,950	2,300	2,300	2,300	2,600	2,750	2,900	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950
Percentage complete	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	hours to date / hours at completion	0%	3.25%	13.21%	26.83%	41.25%	57.34%	70.81%	84.32%	95.74%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	210,000	210,000	210,000	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
Fee revenue to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: ledger; F: % complete x contract value	0	6,829.57	27,747.39	56,353.04	93,439.96	129,870.98	160,393.24	190,974.05	216,846.2095	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
FEE REVENUE IN THE MONTH (USD)	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	change in revenue to date	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	25,872.1595	9,653.7905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Milestone invoicing due to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	63,000	63,000	63,000	67,950	158,550	158,550	158,550	158,550	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
Fee invoiced	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: sales ledger; F: tops up to the milestone due	0	63,000	0	0	16,500	67,500	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Fee invoiced to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress		0	63,000	63,000	63,000	79,500	147,000	147,000	147,000	158,550	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
Contract position: revenue to date less invoiced	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	+ unbilled work / - invoiced ahead	0	-56,170.43	-35,252.61	-6,646.96	13,939.96	-17,129.02	13,393.24	43,974.05	58,296.2095	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress		0	203,170.43	182,252.61	153,646.96	133,060.04	96,629.02	66,106.76	35,525.95	9,653.7905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	effective dates, Project_Register	0	0	0.1429	0.2857	0.4286	0.5714	0.7143	0.8571	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	3x^2 - 2x^3	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress		0	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	78.3	213.1	292.9	358.3	302.7	164.3	90.4	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,500	0
Hours to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	opening + hours	0	0	78.3	291.4	584.3	942.6	1,245.3	1,409.6	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
Estimated hours at completion	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: hours to date + estimate to complete; F: Project_Register	1,500	1,500	1,450	1,450	1,450	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500	1,500
Percentage complete	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	hours to date / hours at completion	0%	0%	5.4%	20.1%	40.3%	62.84%	83.02%	93.97%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
Fee revenue to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: ledger; F: % complete x contract value	0	0	7,830	29,140	58,430	91,118	120,379	136,261.33	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
FEE REVENUE IN THE MONTH (GBP)	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	change in revenue to date	0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	8,738.67	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,000	0
Milestone invoicing due to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	43,500	43,500	43,500	101,500	101,500	101,500	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
Fee invoiced	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	43,500	0	0	58,000	0	0	43,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,000	0
Fee invoiced to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress		0	0	43,500	43,500	43,500	101,500	101,500	101,500	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
Contract position: revenue to date less invoiced	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	+ unbilled work / - invoiced ahead	0	0	-35,670	-14,360	14,930	-10,382	18,879	34,761.33	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress		0	0	137,170	115,860	86,570	53,882	24,621	8,738.67	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	effective dates, Project_Register	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	3x^2 - 2x^3	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress		0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	0	0	70.7	181.2	198.1	271.6	191.7143	76.6857	0	0	0	0	0	0	0	0	0	0	0	0	0	0	990	0
Hours to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	opening + hours	0	0	0	0	70.7	251.9	450	721.6	913.3143	990	990	990	990	990	990	990	990	990	990	990	990	990	990	990	990	990
Estimated hours at completion	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: hours to date + estimate to complete; F: Project_Register	990	990	990	990	960	960	960	990	990	990	990	990	990	990	990	990	990	990	990	990	990	990	990	990	990	990
Percentage complete	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	hours to date / hours at completion	0%	0%	0%	0%	7.36%	26.24%	46.88%	72.89%	92.25%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Fee revenue to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: ledger; F: % complete x contract value	0	0	0	0	7,070	25,190	45,000	69,973.33	88,563.8095	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
FEE REVENUE IN THE MONTH (EUR)	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	change in revenue to date	0	0	0	0	7,070	18,120	19,810	24,973.33	18,590.4795	7,436.1905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Milestone invoicing due to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	28,800	28,800	28,800	67,200	67,200	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Fee invoiced	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	0	0	28,800	0	0	38,400	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Fee invoiced to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress		0	0	0	0	28,800	28,800	28,800	67,200	67,200	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Contract position: revenue to date less invoiced	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	+ unbilled work / - invoiced ahead	0	0	0	0	-21,730	-3,610	16,200	2,773.33	21,363.8095	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress		0	0	0	0	88,930	70,810	51,000	26,026.67	7,436.1905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	effective dates, Project_Register	0	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	3x^2 - 2x^3	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress		0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	42.2	103.6	129.6	137.0296	105.4074	42.163	0	0	0	0	0	0	0	0	0	0	0	0	0	560	0
Hours to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	opening + hours	0	0	0	0	0	42.2	145.8	275.4	412.4296	517.837	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560
Estimated hours at completion	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: hours to date + estimate to complete; F: Project_Register	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560	560
Percentage complete	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	hours to date / hours at completion	0%	0%	0%	0%	0%	7.54%	26.04%	49.18%	73.65%	92.47%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Fee revenue to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: ledger; F: % complete x contract value	0	0	0	0	0	4,220	14,580	27,540	41,242.963	51,783.7037	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
FEE REVENUE IN THE MONTH (GBP)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	change in revenue to date	0	0	0	0	0	4,220	10,360	12,960	13,702.963	10,540.7407	4,216.2963	0	0	0	0	0	0	0	0	0	0	0	0	0	56,000	0
Milestone invoicing due to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	16,800	16,800	16,800	39,200	39,200	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Fee invoiced	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	16,800	0	0	22,400	0	16,800	0	0	0	0	0	0	0	0	0	0	0	0	0	56,000	0
Fee invoiced to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress		0	0	0	0	0	16,800	16,800	16,800	39,200	39,200	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Contract position: revenue to date less invoiced	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	+ unbilled work / - invoiced ahead	0	0	0	0	0	-12,580	-2,220	10,740	2,042.963	12,583.7037	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Third-party production cost (EUR)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: purchase ledger; F: remaining budget x S-curve	0	0	0	0	0	0	4,200	5,600	2,022.2222	1,555.5556	622.2222	0	0	0	0	0	0	0	0	0	0	0	0	0	14,000	0
Production recharged to the client (GBP)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	cost x (1 + mark-up) x average rate	0	0	0	0	0	0	4,147.7625	5,513.3484	1,991.7918	1,532.1476	612.859	0	0	0	0	0	0	0	0	0	0	0	0	0	13,797.9093	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress		0	0	0	0	0	51,780	41,420	28,460	14,757.037	4,216.2963	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	effective dates, Project_Register	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	3x^2 - 2x^3	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress		0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	77.5	204.4	236.663	198.2852	83.1519	0	0	0	0	0	0	0	0	0	0	0	0	0	800	0
Hours to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	opening + hours	0	0	0	0	0	0	77.5	281.9	518.563	716.8481	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800
Estimated hours at completion	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: hours to date + estimate to complete; F: Project_Register	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800	800
Percentage complete	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	9.69%	35.24%	64.82%	89.61%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
Fee revenue to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: ledger; F: % complete x contract value	0	0	0	0	0	0	8,234.38	29,951.88	55,097.3148	76,165.1157	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
FEE REVENUE IN THE MONTH (GBP)	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	change in revenue to date	0	0	0	0	0	0	8,234.38	21,717.5	25,145.4348	21,067.8009	8,834.8843	0	0	0	0	0	0	0	0	0	0	0	0	0	85,000	0
Milestone invoicing due to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	25,500	25,500	59,500	59,500	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
Fee invoiced	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	25,500	0	34,000	0	25,500	0	0	0	0	0	0	0	0	0	0	0	0	0	85,000	0
Fee invoiced to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress		0	0	0	0	0	0	25,500	25,500	59,500	59,500	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
Contract position: revenue to date less invoiced	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	-17,265.62	4,451.88	-4,402.6852	16,665.1157	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress		0	0	0	0	0	0	76,765.62	55,048.12	29,902.6852	8,834.8843	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	effective dates, Project_Register	0	0	0	0	0	0	0	0	0.25	0.5	0.75	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted		0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	148.4375	326.5625	326.5625	148.4375	0	0	0	0	0	0	0	0	0	0	0	0	950	0
Hours to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	opening + hours	0	0	0	0	0	0	0	0	148.4375	475	801.5625	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950
Estimated hours at completion	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: hours to date + estimate to complete; F: Project_Register	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950	950
Percentage complete	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	15.62%	50%	84.38%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee revenue to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	18,750	60,000	101,250	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
FEE REVENUE IN THE MONTH (USD)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	change in revenue to date	0	0	0	0	0	0	0	0	18,750	41,250	41,250	18,750	0	0	0	0	0	0	0	0	0	0	0	0	120,000	0
Milestone invoicing due to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	36,000	36,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee invoiced	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	36,000	0	48,000	36,000	0	0	0	0	0	0	0	0	0	0	0	0	120,000	0
Fee invoiced to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted		0	0	0	0	0	0	0	0	36,000	36,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Contract position: revenue to date less invoiced	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	-17,250	24,000	17,250	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Third-party production cost (EUR)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: purchase ledger; F: remaining budget x S-curve	0	0	0	0	0	0	0	0	4,687.5	10,312.5	10,312.5	4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	30,000	0
Production recharged to the client (USD)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	cost x (1 + mark-up) x average rate	0	0	0	0	0	0	0	0	6,087.9	13,393.38	13,393.38	6,087.9	0	0	0	0	0	0	0	0	0	0	0	0	38,962.56	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted		0	0	0	0	0	0	0	0	101,250	60,000	18,750	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0.1429	0.2857	0.4286	0.5714	0.7143	0.8571	1	1	1	1	1
S-curve: cumulative share at month end	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1
Hours worked	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	50.9621	131.4286	179.7085	195.8017	179.7085	131.4286	50.9621	0	0	0	0	0	920
Hours to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	50.9621	182.3907	362.0991	557.9009	737.6093	869.0379	920	920	920	920	920	0	920
Estimated hours at completion	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920	920
Percentage complete	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	5.54%	19.83%	39.36%	60.64%	80.17%	94.46%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Fee revenue to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	5,317.7843	19,032.07	37,784.2566	58,215.7434	76,967.93	90,682.2157	96,000	96,000	96,000	96,000	96,000	0	96,000
FEE REVENUE IN THE MONTH (GBP)	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	5,317.7843	13,714.2857	18,752.1866	20,431.4869	18,752.1866	13,714.2857	5,317.7843	0	0	0	0	0	96,000
Milestone invoicing due to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	28,800	28,800	28,800	67,200	67,200	67,200	96,000	96,000	96,000	96,000	96,000	0	96,000
Fee invoiced	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	28,800	0	0	38,400	0	0	28,800	0	0	0	0	0	96,000
Fee invoiced to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	28,800	28,800	28,800	67,200	67,200	67,200	96,000	96,000	96,000	96,000	96,000	0	96,000
Contract position: revenue to date less invoiced	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	-23,482.2157	-9,767.93	8,984.2566	-8,984.2566	9,767.93	23,482.2157	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline		0	0	0	0	0	0	0	0	96,000	96,000	96,000	96,000	96,000	90,682.2157	76,967.93	58,215.7434	37,784.2566	19,032.07	5,317.7843	0	0	0	0	0	96,000	0
Programme position (elapsed share of duration)	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1
Hours worked	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	55.5556	138.8889	180.5556	180.5556	138.8889	55.5556	0	0	0	0	0	0	0	0	194.4444	555.5556
Hours to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	55.5556	194.4444	375	555.5556	694.4444	750	750	750	750	750	750	750	750	750	194.4444	750
Estimated hours at completion	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750	750
Percentage complete	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	7.41%	25.93%	50%	74.07%	92.59%	100%	100%	100%	100%	100%	100%	100%	100%	100%	25.93%	100%
Contract value in force	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000
Fee revenue to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	5,925.9259	20,740.7407	40,000	59,259.2593	74,074.0741	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	20,740.7407	80,000
FEE REVENUE IN THE MONTH (USD)	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	5,925.9259	14,814.8148	19,259.2593	19,259.2593	14,814.8148	5,925.9259	0	0	0	0	0	0	0	0	20,740.7407	59,259.2593
Milestone invoicing due to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	24,000	24,000	24,000	56,000	56,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	24,000	80,000
Fee invoiced	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	24,000	0	0	32,000	0	24,000	0	0	0	0	0	0	0	0	24,000	56,000
Fee invoiced to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline		0	0	0	0	0	0	0	0	0	0	24,000	24,000	24,000	56,000	56,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	80,000	24,000	80,000
Contract position: revenue to date less invoiced	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	-18,074.0741	-3,259.2593	16,000	3,259.2593	18,074.0741	0	0	0	0	0	0	0	0	0	-3,259.2593	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline		0	0	0	0	0	0	0	0	80,000	80,000	74,074.0741	59,259.2593	40,000	20,740.7407	5,925.9259	0	0	0	0	0	0	0	0	0	59,259.2593	0
Programme position (elapsed share of duration)	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0.25	0.5	0.75	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1	1
Hours worked	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	76.5625	168.4375	168.4375	76.5625	0	0	0	0	0	0	0	0	0	0	0	413.4375	76.5625
Hours to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	76.5625	245	413.4375	490	490	490	490	490	490	490	490	490	490	490	490	413.4375	490
Estimated hours at completion	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490	490
Percentage complete	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	15.62%	50%	84.38%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	84.38%	100%
Contract value in force	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000
Fee revenue to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	7,656.25	24,500	41,343.75	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	41,343.75	49,000
FEE REVENUE IN THE MONTH (EUR)	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	7,656.25	16,843.75	16,843.75	7,656.25	0	0	0	0	0	0	0	0	0	0	0	41,343.75	7,656.25
Milestone invoicing due to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	14,700	14,700	34,300	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	34,300	49,000
Fee invoiced	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	14,700	0	19,600	14,700	0	0	0	0	0	0	0	0	0	0	0	34,300	14,700
Fee invoiced to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	14,700	14,700	34,300	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	49,000	34,300	49,000
Contract position: revenue to date less invoiced	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	-7,043.75	9,800	7,043.75	0	0	0	0	0	0	0	0	0	0	0	0	7,043.75	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline		0	0	0	0	0	0	0	0	49,000	41,343.75	24,500	7,656.25	0	0	0	0	0	0	0	0	0	0	0	0	7,656.25	0
Programme position (elapsed share of duration)	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1
S-curve: cumulative share at month end	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1
Hours worked	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	28.5185	71.2963	92.6852	92.6852	71.2963	28.5185	0	0	0	0	0	385
Hours to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	28.5185	99.8148	192.5	285.1852	356.4815	385	385	385	385	385	0	385
Estimated hours at completion	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385	385
Percentage complete	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	7.41%	25.93%	50%	74.07%	92.59%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500
Fee revenue to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,851.8519	9,981.4815	19,250	28,518.5185	35,648.1481	38,500	38,500	38,500	38,500	38,500	0	38,500
FEE REVENUE IN THE MONTH (EUR)	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,851.8519	7,129.6296	9,268.5185	9,268.5185	7,129.6296	2,851.8519	0	0	0	0	0	38,500
Milestone invoicing due to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,550	11,550	11,550	26,950	26,950	38,500	38,500	38,500	38,500	38,500	0	38,500
Fee invoiced	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,550	0	0	15,400	0	11,550	0	0	0	0	0	38,500
Fee invoiced to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,550	11,550	11,550	26,950	26,950	38,500	38,500	38,500	38,500	38,500	0	38,500
Contract position: revenue to date less invoiced	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-8,698.1481	-1,568.5185	7,700	1,568.5185	8,698.1481	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline		0	0	0	0	0	0	0	0	38,500	38,500	38,500	38,500	38,500	38,500	35,648.1481	28,518.5185	19,250	9,981.4815	2,851.8519	0	0	0	0	0	38,500	0
Programme position (elapsed share of duration)	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1
Hours worked	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	203.32	484.84	578.68	484.84	203.32	0	0	0	0	0	0	0	0	1,955
Hours to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	203.32	688.16	1,266.84	1,751.68	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	0	1,955
Estimated hours at completion	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955
Percentage complete	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	89.6%	100%	100%	100%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000
Fee revenue to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	21,216	71,808	132,192	182,784	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	0	204,000
FEE REVENUE IN THE MONTH (EUR)	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	21,216	50,592	60,384	50,592	21,216	0	0	0	0	0	0	0	0	204,000
Milestone invoicing due to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	61,200	61,200	142,800	142,800	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	0	204,000
Fee invoiced	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	61,200	0	81,600	0	61,200	0	0	0	0	0	0	0	0	204,000
Fee invoiced to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	61,200	61,200	142,800	142,800	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	0	204,000
Contract position: revenue to date less invoiced	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	-39,984	10,608	-10,608	39,984	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	204,000	204,000	204,000	204,000	182,784	132,192	71,808	21,216	0	0	0	0	0	0	0	0	204,000	0
Programme position (elapsed share of duration)	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1	1	1	1
S-curve: cumulative share at month end	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1
S-curve: cumulative share at prior month end	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1
Hours worked	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	203.32	484.84	578.68	484.84	203.32	0	0	0	0	0	1,955
Hours to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	203.32	688.16	1,266.84	1,751.68	1,955	1,955	1,955	1,955	1,955	0	1,955
Estimated hours at completion	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955
Percentage complete	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	89.6%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000
Fee revenue to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	21,216	71,808	132,192	182,784	204,000	204,000	204,000	204,000	204,000	0	204,000
FEE REVENUE IN THE MONTH (EUR)	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	21,216	50,592	60,384	50,592	21,216	0	0	0	0	0	204,000
Milestone invoicing due to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	61,200	142,800	142,800	204,000	204,000	204,000	204,000	204,000	0	204,000
Fee invoiced	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	0	81,600	0	61,200	0	0	0	0	0	204,000
Fee invoiced to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	61,200	142,800	142,800	204,000	204,000	204,000	204,000	204,000	0	204,000
Contract position: revenue to date less invoiced	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-39,984	10,608	-10,608	39,984	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	204,000	204,000	204,000	204,000	204,000	204,000	204,000	182,784	132,192	71,808	21,216	0	0	0	0	0	204,000	0
Programme position (elapsed share of duration)	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1
S-curve: cumulative share at month end	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1
S-curve: cumulative share at prior month end	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1
Hours worked	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	203.32	484.84	578.68	484.84	203.32	0	0	1,955
Hours to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	203.32	688.16	1,266.84	1,751.68	1,955	1,955	0	1,955
Estimated hours at completion	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955
Percentage complete	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	89.6%	100%	100%	0%	100%
Contract value in force	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000
Fee revenue to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	21,216	71,808	132,192	182,784	204,000	204,000	0	204,000
FEE REVENUE IN THE MONTH (EUR)	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	21,216	50,592	60,384	50,592	21,216	0	0	204,000
Milestone invoicing due to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	61,200	142,800	142,800	204,000	204,000	0	204,000
Fee invoiced	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	0	81,600	0	61,200	0	0	204,000
Fee invoiced to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	61,200	142,800	142,800	204,000	204,000	0	204,000
Contract position: revenue to date less invoiced	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-39,984	10,608	-10,608	39,984	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	182,784	132,192	71,808	21,216	0	0	204,000	0
Programme position (elapsed share of duration)	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6
S-curve: cumulative share at month end	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648
S-curve: cumulative share at prior month end	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352
Hours worked	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	203.32	484.84	578.68	0	1,266.84
Hours to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	203.32	688.16	1,266.84	0	1,266.84
Estimated hours at completion	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955	1,955
Percentage complete	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	0%	64.8%
Contract value in force	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000
Fee revenue to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	21,216	71,808	132,192	0	132,192
FEE REVENUE IN THE MONTH (EUR)	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	21,216	50,592	60,384	0	132,192
Milestone invoicing due to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	61,200	142,800	0	142,800
Fee invoiced	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	0	81,600	0	142,800
Fee invoiced to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	61,200	142,800	0	142,800
Contract position: revenue to date less invoiced	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-39,984	10,608	-10,608	0	-10,608
Remaining fee to earn (secured if signed; pipeline weighted)	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	204,000	182,784	132,192	71,808	204,000	71,808
Project hours	TOTALS (EUR where stated)	sum of projects	635.3	511.2	549.2	585.3	819	1,085.9	1,158.7	1,203.6	1,141.2107	909.237	675.8704	455.7639	460.4381	716.3577	877.516	994.7203	976.6469	851.0736	890.8849	767.6406	578.68	688.16	688.16	578.68	9,730.2819	9,068.9581
Third-party production cost (EUR)	TOTALS (EUR where stated)		0	0	0	0	0	0	4,200	5,600	6,709.7222	11,868.0556	10,934.7222	4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	44,000	0
Project fee revenue (EUR at the monthly average rate)	TOTALS (EUR where stated)		65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	112,632.3406	95,895.3276	72,764.8417	45,788.9163	45,480.7868	73,409.42	92,024.0323	105,942.4314	104,931.7012	91,547.0013	94,950.0125	80,868.735	60,384	71,808	71,808	60,384	926,786.4793	953,538.1205
Secured remaining fees (EUR at the monthly average rate)	TOTALS (EUR where stated)		74,720.8136	203,419.2598	319,901.796	266,042.8103	302,799.593	276,919.8899	275,084.0736	164,561.4833	155,219.2191	66,980.1415	16,169.3687	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Pipeline remaining fees, win-weighted (EUR)	TOTALS (EUR where stated)		0	0	0	0	0	0	0	0	1,084,575.987	1,076,919.737	1,054,965.668	1,025,346.1205	979,865.3337	906,455.9137	814,431.8814	708,489.4501	603,557.7488	512,010.7476	417,060.735	336,192	275,808	204,000	132,192	71,808	1,025,346.1205	71,808

TIME AND MATERIALS AND MEDIA MANAGEMENT (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
ASH: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	257.5	224.5	222.5	190.7	206.7	215.2	169	246.3	240	249.1139	230.8861	185.3165	230.8861	221.7722	240	227.8481	227.8481	209.6203	170.1266	206.5823	240	249.1139	230.8861	185.3165	2,637.7165	2,640
ASH: hourly rate (GBP)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	88	88	88	88	88	88	88	88	88	88	88	88	91.52	91.52	91.52	91.52	91.52	91.52	91.52	91.52	91.52	91.52	91.52	91.52	88	91.52
ASH: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	9.3%	8.29%	5.07%	11.37%	10.21%	6.39%	8.14%	9.48%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.51%	8.52%	8.51%
ASH: revenue (GBP)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	19,322.2055	20,055.9601	18,588.4509	14,919.6777	19,331.9889	18,568.8841	20,095.0937	19,077.6206	19,077.6206	17,551.411	14,244.6234	17,297.0427	20,095.0937	20,858.1985	19,331.9889	15,516.4648	212,360.4141	221,046.0309
ASH: invoiced (GBP)	TIME AND MATERIALS	A: sales ledger; F: prior month work	14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	19,322.2055	20,055.9601	18,588.4509	14,919.6777	19,331.9889	18,568.8841	20,095.0937	19,077.6206	19,077.6206	17,551.411	14,244.6234	17,297.0427	20,095.0937	20,858.1985	19,331.9889	211,636.1265	220,449.2438
ASH: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	28,325	24,695	24,475	20,977	22,737	23,672	18,590	27,093	26,400	27,402.5316	25,397.4684	20,384.8101	26,413.3671	25,370.7342	27,456	26,065.8228	26,065.8228	23,980.557	19,462.481	23,633.0127	27,456	28,498.6329	26,413.3671	21,200.2025	290,148.8101	302,016
CAR: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	0	0	96.2	91.5	99.9	86.4	64.5	90.6	98.1818	101.9102	94.4534	75.8113	94.4534	90.725	98.1818	93.2106	93.2106	85.7537	69.5972	84.5109	98.1818	101.9102	94.4534	75.8113	899.4567	1,080
CAR: hourly rate (EUR)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	98	98	98	98	98	98	98	98	98	98	98	98	101.92	101.92	101.92	101.92	101.92	101.92	101.92	101.92	101.92	101.92	101.92	101.92	98	101.92
CAR: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	0%	0%	7.63%	6.41%	5.02%	2.28%	6.22%	6.36%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	5.66%	4.71%	5.66%
CAR: revenue (EUR)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	7,289.1481	83,155.2934	103,840.4875
CAR: invoiced (EUR)	TIME AND MATERIALS	A: sales ledger; F: prior month work	0	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	76,146.4971	103,560.1356
CAR: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	0	0	10,582	10,065	10,989	9,504	7,095	9,966	10,800	11,210.1266	10,389.8734	8,339.2405	10,805.4684	10,378.9367	11,232	10,663.2911	10,663.2911	9,810.2278	7,961.9241	9,668.0506	11,232	11,658.5316	10,805.4684	8,672.8101	98,940.2405	123,552
TWL: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	0	0	0	0	0	0	0	0	0	67.9402	62.9689	50.5409	62.9689	60.4833	65.4545	62.1404	62.1404	57.1692	46.3982	56.3406	65.4545	67.9402	62.9689	50.5409	181.4499	720
TWL: hourly rate (GBP)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	85	85	85	85	85	85	85	85	85	85	85	85	88.4	88.4	88.4	88.4	88.4	88.4	88.4	88.4	88.4	88.4	88.4	88.4	85	88.4
TWL: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	0%	0%	0%	0%	0%	0%	0%	0%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	1.67%	5%
TWL: revenue (GBP)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	0	0	0	0	0	0	0	0	0	5,486.168	5,084.7411	4,081.1738	5,288.1307	5,079.3887	5,496.8727	5,218.5501	5,218.5501	4,801.0661	3,896.5174	4,731.4854	5,496.8727	5,705.6147	5,288.1307	4,244.4207	14,652.0829	60,465.6
TWL: invoiced (GBP)	TIME AND MATERIALS	A: sales ledger; F: prior month work	0	0	0	0	0	0	0	0	0	0	5,486.168	5,084.7411	4,081.1738	5,288.1307	5,079.3887	5,496.8727	5,218.5501	5,218.5501	4,801.0661	3,896.5174	4,731.4854	5,496.8727	5,705.6147	5,288.1307	10,570.9091	60,302.353
TWL: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	0	0	0	0	0	0	0	0	0	7,473.4177	6,926.5823	5,559.4937	7,203.6456	6,919.2911	7,488	7,108.8608	7,108.8608	6,540.1519	5,307.9494	6,445.3671	7,488	7,772.3544	7,203.6456	5,781.8734	19,959.4937	82,368
OTH: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	115.9	109.7	133.7	145	113.4	121.3	95.8	99	130.9091	135.8803	125.9379	101.0817	125.9379	120.9666	130.9091	124.2808	124.2808	114.3383	92.7963	112.6812	130.9091	135.8803	125.9379	101.0817	1,427.609	1,440
OTH: hourly rate (EUR)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	92	92	92	92	92	92	92	92	92	92	92	92	95.68	95.68	95.68	95.68	95.68	95.68	95.68	95.68	95.68	95.68	95.68	95.68	92	95.68
OTH: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	9.37%	12.8%	17.57%	14.88%	10.83%	10.96%	12.83%	15.1%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.15%	13.08%	13.15%
OTH: revenue (EUR)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	10,459.9686	10,857.1826	10,062.7546	8,076.6846	10,465.2648	10,052.1622	10,878.3674	10,327.5639	10,327.5639	9,501.3588	7,711.2477	9,363.658	10,878.3674	11,291.4699	10,465.2648	8,399.752	114,069.5805	119,662.0409
OTH: invoiced (EUR)	TIME AND MATERIALS	A: sales ledger; F: prior month work	7,861.33	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	10,459.9686	10,857.1826	10,062.7546	8,076.6846	10,465.2648	10,052.1622	10,878.3674	10,327.5639	10,327.5639	9,501.3588	7,711.2477	9,363.658	10,878.3674	11,291.4699	10,465.2648	113,854.2258	119,338.9735
OTH: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	12,749	12,067	14,707	15,950	12,474	13,343	10,538	10,890	14,400	14,946.8354	13,853.1646	11,118.9873	14,407.2911	13,838.5823	14,976	14,217.7215	14,217.7215	13,080.3038	10,615.8987	12,890.7342	14,976	15,544.7089	14,407.2911	11,563.7468	157,036.9873	164,736
Time and materials hours	TIME AND MATERIALS		373.4	334.2	452.4	427.2	420	422.9	329.3	435.9	469.0909	554.8446	514.2463	412.7503	514.2463	493.9471	534.5455	507.4799	507.4799	466.8815	378.9183	460.1151	534.5455	554.8446	514.2463	412.7503	5,146.2321	5,880
Time and materials revenue (EUR)	TIME AND MATERIALS		33,303.601	29,595.2242	40,155.662	36,895.9525	37,446.0124	38,717.0875	29,519.827	38,965.4466	42,096.9538	50,101.0552	46,435.1243	37,270.2972	48,292.5293	46,386.2453	50,198.8134	47,657.1013	47,657.1013	43,844.5332	35,583.969	43,209.1052	50,198.8134	52,105.0974	48,292.5293	38,761.1091	460,502.2437	552,186.947
Standard value of time and materials hours (EUR)	TIME AND MATERIALS		41,074	36,762	49,764	46,992	46,200	46,519	36,223	47,949	51,600	61,032.9114	56,567.0886	45,402.5316	58,829.7722	56,507.5443	61,152	58,055.6962	58,055.6962	53,411.2405	43,348.2532	52,637.1646	61,152	63,474.2278	58,829.7722	47,218.6329	566,085.5316	672,672
Time and materials realisation (revenue / standard value)	TIME AND MATERIALS		81.08%	80.5%	80.69%	78.52%	81.05%	83.23%	81.49%	81.26%	81.58%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	82.09%	81.35%	82.09%
THV: media spend rebilled (GBP)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	55,000	60,500	74,250	66,000	46,750	46,750	52,250	49,500	49,500	47,025	42,075	44,550	49,500	54,450	66,825	59,400	684,147.39	608,575
THV: media management fee (GBP)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	5,500	6,050	7,425	6,600	4,675	4,675	5,225	4,950	4,950	4,702.5	4,207.5	4,455	4,950	5,445	6,682.5	5,940	68,414.74	60,857.5
THV: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	720	720
HOC: media spend rebilled (USD)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	90,000	99,000	121,500	108,000	76,500	76,500	85,500	90,000	90,000	85,500	68,850	72,900	81,000	89,100	109,350	97,200	1,086,224.31	1,022,400
HOC: media management fee (USD)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	8,100	8,910	10,935	9,720	6,885	6,885	7,695	8,100	8,100	7,695	6,196.5	6,561	7,290	8,019	9,841.5	8,748	97,760.19	92,016
HOC: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	840	840
LIN: media spend rebilled (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	36,651.48	36,033.18	37,761.67	41,489.22	37,868.66	40,561.35	35,029.41	35,093.95	40,000	44,000	54,000	48,000	34,000	34,000	38,000	40,000	40,000	38,000	34,000	36,000	40,000	39,600	48,600	43,200	486,488.92	465,400
LIN: media management fee (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	3,665.15	3,603.32	3,776.17	4,148.92	3,786.87	4,056.14	3,502.94	3,509.39	4,000	4,400	5,400	4,800	3,400	3,400	3,800	4,000	4,000	3,800	3,400	3,600	4,000	3,960	4,860	4,320	48,648.9	46,540
LIN: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	540	540
TAM: media spend rebilled (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	17,814.1	19,471.68	20,102.78	21,367.75	20,600.91	21,373.1	20,230.83	21,912.78	22,000	24,200	29,700	26,400	17,765	17,765	19,855	20,900	20,900	19,855	17,765	18,810	20,900	22,990	28,215	25,080	265,173.93	250,800
TAM: media management fee (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	2,137.69	2,336.6	2,412.33	2,564.13	2,472.11	2,564.77	2,427.7	2,629.53	2,640	2,904	3,564	3,168	2,131.8	2,131.8	2,382.6	2,508	2,508	2,382.6	2,131.8	2,257.2	2,508	2,758.8	3,385.8	3,009.6	31,820.86	30,096
TAM: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	360	360
VDH: media spend rebilled (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	26,297.13	26,644.31	28,793.82	30,973.38	31,211.42	29,702.68	24,993.32	24,881.93	30,000	33,000	40,500	36,000	25,500	25,500	24,225	25,500	25,500	24,225	21,675	22,950	25,500	28,050	34,425	30,600	362,997.99	313,650
VDH: media management fee (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	2,629.71	2,664.43	2,879.38	3,097.34	3,121.14	2,970.27	2,499.33	2,488.19	3,000	3,300	4,050	3,600	2,550	2,550	2,422.5	2,550	2,550	2,422.5	2,167.5	2,295	2,550	2,805	3,442.5	3,060	36,299.79	31,365
VDH: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	480	480
Media spend rebilled (EUR): pass-through, not revenue	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		197,458.8042	195,290.5747	219,059.5025	241,000.8898	234,907.7945	223,392.8507	214,762.2655	230,207.1313	233,829.2973	257,212.227	315,669.5513	280,595.1567	197,819.9027	197,819.9027	216,817.8324	221,807.6646	221,807.6646	210,717.2813	181,939.4124	192,641.7308	214,046.3676	231,051.0043	283,562.5962	252,055.6411	2,843,386.0455	2,622,087.0006
Media management fees (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		19,530.4067	19,335.0268	21,595.5016	23,771.4365	23,099.434	22,018.8784	21,094.5728	22,676.7917	23,046.8	25,351.48	31,113.18	27,656.16	19,477.58	19,477.58	21,341.56	21,822.6368	21,822.6368	20,731.5049	17,955.502	19,011.708	21,124.12	22,796.532	27,977.562	24,868.944	280,289.6687	258,407.8667
Media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	2,940	2,940
Effective media fee (fees / spend)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		9.89%	9.9%	9.86%	9.86%	9.83%	9.86%	9.82%	9.85%	9.86%	9.86%	9.86%	9.86%	9.85%	9.85%	9.84%	9.84%	9.84%	9.84%	9.87%	9.87%	9.87%	9.87%	9.87%	9.87%	9.86%	9.86%

DELIVERY CAPACITY: HOURS BY ROLE, UTILISATION, FREELANCERS, STANDARD VALUE AND REALISATION
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Brand and content retainers	HOURS BY WORK TYPE (all clients)	engine sheets	616.6	606.5	610.6	600.5	596.7	751.2	751.3	762.2	723.6546	563.9758	563.9758	563.9758	530.2193	530.2193	530.2193	559.3724	559.3724	618.2529	618.2529	618.2529	618.2529	618.2529	618.2529	618.2529	7,711.1821	7,037.1729
Performance retainers	HOURS BY WORK TYPE (all clients)	engine sheets	538.7	521.4	532.9	527.5	540.9	523.3	538.5	533	522.4175	522.4175	522.4175	522.4175	517.4689	517.4689	535.7981	535.7981	535.7981	535.7981	525.809	525.809	525.809	508.7341	508.7341	508.7341	6,345.87	6,281.7596
Product design and development retainers	HOURS BY WORK TYPE (all clients)	engine sheets	724.3	710.4	714.3	952.1	946.2	929.8	946.3	929.7	914.548	914.548	914.548	914.548	978.898	978.898	978.898	955.2742	955.2742	955.2742	935.0221	935.0221	935.0221	935.0221	935.0221	935.0221	10,511.292	11,412.649
Fixed-fee projects	HOURS BY WORK TYPE (all clients)	engine sheets	635.3	511.2	549.2	585.3	819	1,085.9	1,158.7	1,203.6	1,141.2107	909.237	675.8704	455.7639	460.4381	716.3577	877.516	994.7203	976.6469	851.0736	890.8849	767.6406	578.68	688.16	688.16	578.68	9,730.2819	9,068.9581
Time and materials	HOURS BY WORK TYPE (all clients)	engine sheets	373.4	334.2	452.4	427.2	420	422.9	329.3	435.9	469.0909	554.8446	514.2463	412.7503	514.2463	493.9471	534.5455	507.4799	507.4799	466.8815	378.9183	460.1151	534.5455	554.8446	514.2463	412.7503	5,146.2321	5,880
Media management	HOURS BY WORK TYPE (all clients)	engine sheets	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	2,940	2,940
TOTAL HOURS DEMANDED	HOURS BY WORK TYPE (all clients)		3,133.3	2,928.7	3,104.4	3,337.6	3,567.8	3,958.1	3,969.1	4,109.4	4,015.9217	3,710.023	3,436.058	3,114.4555	3,246.2705	3,481.8909	3,701.9768	3,797.6449	3,779.5715	3,672.2803	3,593.8871	3,551.8397	3,437.3094	3,550.0137	3,509.4154	3,298.4394	42,384.8581	42,620.5396
Development and QA: +1 from Oct-26 (Quillfield launch campaign (contracted))	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0
Performance marketing: +1 from Nov-26 (media growth on existing accounts)	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0
Development and QA: +1 from Jan-27 (Ferncliff retainer (pipeline))	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	0	0	0.45	0	0	0	0	0	0	0	0	0	0	0	0	0.45
Creative and design: +1 from Mar-27 (Brackenholt portal (pipeline))	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	0	0	0	0	0.4	0	0	0	0	0	0	0	0	0	0	0.4
Delivery hires in the month (weighted)	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)		0	0	0	0	0	0	0	0	0	1	1	0	0.45	0	0.4	0	0	0	0	0	0	0	0	0	2	0.85
Capacity cut in the month (FTE, scenario)	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	Assumptions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Headcount	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: payroll; F: prior month + weighted hires - share of any capacity cut	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5
Productive hours available	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	headcount x productive hours per FTE	760	730	790	750	750	690	560	680	790	820	760	610	760	730	790	750	750	690	560	680	790	820	760	610	8,690	8,690
Billable hours demanded	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: own + freelancer timesheets; F: hours by work type x role mix	351.797	336.066	341.959	365.999	385.431	430.313	440.085	443.154	428.1221	380.822	362.1527	344.5442	344.5346	365.0082	380.6503	392.9118	391.4659	392.0186	391.6799	381.8203	366.7035	372.9006	372.9006	364.1422	4,610.445	4,516.7366
Billable hours worked by own staff	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: timesheets; F: min(demand, capacity x maximum utilisation)	351.7	336	341.9	365.9	385.4	430.3	440	443.1	428.1221	380.822	362.1527	344.5442	344.5346	365.0082	380.6503	392.9118	391.4659	392.0186	391.6799	381.8203	366.7035	372.9006	372.9006	364.1422	4,609.941	4,516.7366
Billable hours bought from freelancers	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: freelancer timesheets; F: demand - own	0.097	0.066	0.059	0.099	0.031	0.013	0.085	0.054	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.504	0
Utilisation (own billable / productive hours)	ROLE: STRATEGY AND ACCOUNT MANAGEMENT		46.28%	46.03%	43.28%	48.79%	51.39%	62.36%	78.57%	65.16%	54.19%	46.44%	47.65%	56.48%	45.33%	50%	48.18%	52.39%	52.2%	56.81%	69.94%	56.15%	46.42%	45.48%	49.07%	59.7%	53.05%	51.98%
Standard value of hours (EUR, rate card)	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	(own + freelancer hours) x rate card	43,974.625	42,008.25	42,744.875	45,749.875	48,178.875	53,789.125	55,010.625	55,394.25	53,515.2631	47,602.7544	45,269.0881	43,068.0233	44,789.5038	47,451.0676	49,484.5346	51,078.5333	50,890.5702	50,962.4117	50,918.3829	49,636.6427	47,671.4522	48,477.0842	48,477.0842	47,338.4922	576,305.6288	587,175.7594
Headcount	ROLE: CREATIVE AND DESIGN	A: payroll; F: prior month + weighted hires - share of any capacity cut	9	9	9	9	8	8	9	9	9	9	9	9	9	9	9.4	9.4	9.4	9.4	9.4	9.4	9.4	9.4	9.4	9.4	9	9.4
Productive hours available	ROLE: CREATIVE AND DESIGN	headcount x productive hours per FTE	1,368	1,314	1,422	1,350	1,200	1,104	1,008	1,224	1,422	1,476	1,368	1,098	1,368	1,314	1,485.2	1,410	1,410	1,297.2	1,052.8	1,278.4	1,485.2	1,541.6	1,428.8	1,146.8	15,354	16,218
Billable hours demanded	ROLE: CREATIVE AND DESIGN	A: own + freelancer timesheets; F: hours by work type x role mix	830.321	771.158	822.075	904.695	970.972	1,093.5	1,094.891	1,137.359	1,109.6918	1,014.7287	932.5392	836.0584	879.036	949.7221	1,012.4487	1,040.551	1,035.129	1,004.1192	981.3867	968.7724	934.4134	971.2981	959.1186	895.8258	11,517.9891	11,631.8211
Billable hours worked by own staff	ROLE: CREATIVE AND DESIGN	A: timesheets; F: min(demand, capacity x maximum utilisation)	830.3	771.1	822	904.6	970.9	984.5	885.2	1,059.8	1,109.6918	1,014.7287	932.5392	836.0584	879.036	949.7221	1,012.4487	1,040.551	1,035.129	1,004.1192	926.464	968.7724	934.4134	971.2981	959.1186	895.8258	11,121.4181	11,576.8984
Billable hours bought from freelancers	ROLE: CREATIVE AND DESIGN	A: freelancer timesheets; F: demand - own	0.021	0.058	0.075	0.095	0.072	109	209.691	77.559	0	0	0	0	0	0	0	0	0	0	54.9227	0	0	0	0	0	396.571	54.9227
Utilisation (own billable / productive hours)	ROLE: CREATIVE AND DESIGN		60.69%	58.68%	57.81%	67.01%	80.91%	89.18%	87.82%	86.58%	78.04%	68.75%	68.17%	76.14%	64.26%	72.28%	68.17%	73.8%	73.41%	77.41%	88%	75.78%	62.91%	63.01%	67.13%	78.12%	72.43%	71.38%
Standard value of hours (EUR, rate card)	ROLE: CREATIVE AND DESIGN	(own + freelancer hours) x rate card	87,183.705	80,971.59	86,317.875	94,992.975	101,952.06	114,817.5	114,963.555	119,422.695	116,517.6436	106,546.5095	97,916.6114	87,786.1341	95,990.7341	103,709.6585	110,559.3949	113,628.1651	113,036.0814	109,649.8172	107,167.4257	105,789.9505	102,037.9399	106,065.7572	104,735.754	97,824.1811	1,209,388.8536	1,270,194.8597
Headcount	ROLE: CONTENT, COPY AND VIDEO	A: payroll; F: prior month + weighted hires - share of any capacity cut	5	5	5	5	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4
Productive hours available	ROLE: CONTENT, COPY AND VIDEO	headcount x productive hours per FTE	760	730	790	750	600	552	448	544	632	656	608	488	608	584	632	600	600	552	448	544	632	656	608	488	7,558	6,952
Billable hours demanded	ROLE: CONTENT, COPY AND VIDEO	A: own + freelancer timesheets; F: hours by work type x role mix	317.606	305.617	310.447	308.015	320.112	385.244	390.895	396.24	378.2539	310.7677	299.0993	288.094	275.8696	288.6656	299.1063	315.1701	314.2664	328.596	329.2879	323.1257	313.6777	316.9319	316.9319	311.4579	4,010.3909	3,733.0872
Billable hours worked by own staff	ROLE: CONTENT, COPY AND VIDEO	A: timesheets; F: min(demand, capacity x maximum utilisation)	317.6	305.6	310.4	308	320.1	385.2	390.8	396.2	378.2539	310.7677	299.0993	288.094	275.8696	288.6656	299.1063	315.1701	314.2664	328.596	329.2879	323.1257	313.6777	316.9319	316.9319	311.4579	4,010.1149	3,733.0872
Billable hours bought from freelancers	ROLE: CONTENT, COPY AND VIDEO	A: freelancer timesheets; F: demand - own	0.006	0.017	0.047	0.015	0.012	0.044	0.095	0.04	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.276	0
Utilisation (own billable / productive hours)	ROLE: CONTENT, COPY AND VIDEO		41.79%	41.86%	39.29%	41.07%	53.35%	69.78%	87.23%	72.83%	59.85%	47.37%	49.19%	59.04%	45.37%	49.43%	47.33%	52.53%	52.38%	59.53%	73.5%	59.4%	49.63%	48.31%	52.13%	63.82%	53.06%	53.7%
Standard value of hours (EUR, rate card)	ROLE: CONTENT, COPY AND VIDEO	(own + freelancer hours) x rate card	28,584.54	27,505.53	27,940.23	27,721.35	28,810.08	34,671.96	35,180.55	35,661.6	34,042.8522	27,969.09	26,918.9402	25,928.461	25,821.3947	27,019.0984	27,996.3497	29,499.9223	29,415.3389	30,756.5811	30,821.35	30,244.5669	29,360.2312	29,664.8305	29,664.8305	29,152.4641	360,935.1834	349,416.9582
Headcount	ROLE: DEVELOPMENT AND QA	A: payroll; F: prior month + weighted hires - share of any capacity cut	7	7	7	8	8	8	8	8	8	9	9	9	9.45	9.45	9.45	9.45	9.45	9.45	9.45	9.45	9.45	9.45	9.45	9.45	9	9.45
Productive hours available	ROLE: DEVELOPMENT AND QA	headcount x productive hours per FTE	1,064	1,022	1,106	1,200	1,200	1,104	896	1,088	1,264	1,476	1,368	1,098	1,436.4	1,379.7	1,493.1	1,417.5	1,417.5	1,304.1	1,058.4	1,285.2	1,493.1	1,549.8	1,436.4	1,152.9	13,886	16,424.1
Billable hours demanded	ROLE: DEVELOPMENT AND QA	A: own + freelancer timesheets; F: hours by work type x role mix	835.299	753.099	841.857	948.606	1,039.671	1,150.764	1,132.608	1,208.283	1,194.0193	1,143.2522	1,020.8792	867.5369	958.3424	1,053.6491	1,145.6947	1,168.925	1,161.3342	1,086.0008	1,040.8301	1,037.7856	1,003.0804	1,061.2415	1,036.8825	930.0033	12,135.8745	12,683.7696
Billable hours worked by own staff	ROLE: DEVELOPMENT AND QA	A: timesheets; F: min(demand, capacity x maximum utilisation)	835.2	753	841.8	948.6	1,039.6	980.4	763.6	960.9	1,112.32	1,143.2522	1,020.8792	867.5369	958.3424	1,053.6491	1,145.6947	1,168.925	1,161.3342	1,086.0008	931.392	1,037.7856	1,003.0804	1,061.2415	1,036.8825	930.0033	11,267.0883	12,574.3315
Billable hours bought from freelancers	ROLE: DEVELOPMENT AND QA	A: freelancer timesheets; F: demand - own	0.099	0.099	0.057	0.006	0.071	170.364	369.008	247.383	81.6993	0	0	0	0	0	0	0	0	0	109.4381	0	0	0	0	0	868.7863	109.4381
Utilisation (own billable / productive hours)	ROLE: DEVELOPMENT AND QA		78.5%	73.68%	76.11%	79.05%	86.63%	88.8%	85.22%	88.32%	88%	77.46%	74.63%	79.01%	66.72%	76.37%	76.73%	82.46%	81.93%	83.28%	88%	80.75%	67.18%	68.48%	72.19%	80.67%	81.14%	76.56%
Standard value of hours (EUR, rate card)	ROLE: DEVELOPMENT AND QA	(own + freelancer hours) x rate card	96,059.385	86,606.385	96,813.555	109,089.69	119,562.165	132,337.86	130,249.92	138,952.545	137,312.216	131,474.0036	117,401.1065	99,766.7413	114,617.7531	126,016.4362	137,025.0816	139,803.4309	138,895.5693	129,885.6944	124,483.2851	124,119.1607	119,968.415	126,924.4846	124,011.1442	111,228.3939	1,395,625.5724	1,516,978.8492
Headcount	ROLE: PERFORMANCE MARKETING	A: payroll; F: prior month + weighted hires - share of any capacity cut	4	4	4	4	4	4	4	4	4	4	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5
Productive hours available	ROLE: PERFORMANCE MARKETING	headcount x productive hours per FTE	608	584	632	600	600	552	448	544	632	656	760	610	760	730	790	750	750	690	560	680	790	820	760	610	7,226	8,690
Billable hours demanded	ROLE: PERFORMANCE MARKETING	A: own + freelancer timesheets; F: hours by work type x role mix	504.617	494.9	501.307	498.135	505.429	498.839	507.201	504.394	497.8027	494.6091	494.6091	494.6091	491.2123	491.2123	501.2934	501.8764	501.8764	503.054	497.56	497.56	497.56	488.1688	488.1688	488.1688	5,996.4521	5,947.7113
Billable hours worked by own staff	ROLE: PERFORMANCE MARKETING	A: timesheets; F: min(demand, capacity x maximum utilisation)	504.6	494.9	501.3	498.1	505.4	496.4	389.6	483.2	497.8027	494.6091	494.6091	494.6091	491.2123	491.2123	501.2934	501.8764	501.8764	503.054	492.8	497.56	497.56	488.1688	488.1688	488.1688	5,855.1301	5,942.9512
Billable hours bought from freelancers	ROLE: PERFORMANCE MARKETING	A: freelancer timesheets; F: demand - own	0.017	0	0.007	0.035	0.029	2.439	117.601	21.194	0	0	0	0	0	0	0	0	0	0	4.76	0	0	0	0	0	141.322	4.76
Utilisation (own billable / productive hours)	ROLE: PERFORMANCE MARKETING		82.99%	84.74%	79.32%	83.02%	84.23%	89.93%	86.96%	88.82%	78.77%	75.4%	65.08%	81.08%	64.63%	67.29%	63.45%	66.92%	66.92%	72.91%	88%	73.17%	62.98%	59.53%	64.23%	80.03%	81.03%	68.39%
Standard value of hours (EUR, rate card)	ROLE: PERFORMANCE MARKETING	(own + freelancer hours) x rate card	50,461.7	49,490	50,130.7	49,813.5	50,542.9	49,883.9	50,720.1	50,439.4	49,780.2717	49,460.9142	49,460.9142	49,460.9142	51,086.0757	51,086.0757	52,134.5088	52,195.1473	52,195.1473	52,317.6188	51,746.2408	51,746.2408	51,746.2408	50,769.558	50,769.558	50,769.558	599,645.2142	618,561.9701
Headcount	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: payroll; F: prior month + weighted hires - share of any capacity cut	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3
Productive hours available	ROLE: PROJECT AND DELIVERY MANAGEMENT	headcount x productive hours per FTE	456	438	474	450	450	414	336	408	474	492	456	366	456	438	474	450	450	414	336	408	474	492	456	366	5,214	5,214
Billable hours demanded	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: own + freelancer timesheets; F: hours by work type x role mix	293.66	267.86	286.755	312.15	346.185	399.44	403.42	419.97	408.0318	365.8433	326.7784	283.6129	297.2755	333.6335	362.7836	378.2106	375.4996	358.4918	353.1425	342.7755	321.8745	339.4727	335.4128	308.8412	4,113.7064	4,107.4139
Billable hours worked by own staff	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: timesheets; F: min(demand, capacity x maximum utilisation)	293.6	267.8	286.7	312.1	346.1	366.5	296.9	352.6	408.0318	365.8433	326.7784	283.6129	297.2755	333.6335	362.7836	378.2106	375.4996	358.4918	295.68	342.7755	321.8745	339.4727	335.4128	308.8412	3,906.5664	4,049.9514
Billable hours bought from freelancers	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: freelancer timesheets; F: demand - own	0.06	0.06	0.055	0.05	0.085	32.94	106.52	67.37	0	0	0	0	0	0	0	0	0	0	57.4625	0	0	0	0	0	207.14	57.4625
Utilisation (own billable / productive hours)	ROLE: PROJECT AND DELIVERY MANAGEMENT		64.39%	61.14%	60.49%	69.36%	76.91%	88.53%	88.36%	86.42%	86.08%	74.36%	71.66%	77.49%	65.19%	76.17%	76.54%	84.05%	83.44%	86.59%	88%	84.01%	67.91%	69%	73.56%	84.38%	74.92%	77.67%
Standard value of hours (EUR, rate card)	ROLE: PROJECT AND DELIVERY MANAGEMENT	(own + freelancer hours) x rate card	27,897.7	25,446.7	27,241.725	29,654.25	32,887.575	37,946.8	38,324.9	39,897.15	38,763.0235	34,755.111	31,043.9518	26,943.2227	29,370.8199	32,962.9923	35,843.0173	37,367.2071	37,099.3597	35,418.9907	34,890.4797	33,866.2241	31,801.1999	33,539.8996	33,138.7875	30,513.5137	390,802.109	405,812.4915
Rate card factor (FY2027 = 1 + rate card change)	DELIVERY TOTALS		1	1	1	1	1	1	1	1	1	1	1	1	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1	1.04
DELIVERY HEADCOUNT	DELIVERY TOTALS		33	33	33	34	32	32	33	33	33	34	35	35	35.45	35.45	35.85	35.85	35.85	35.85	35.85	35.85	35.85	35.85	35.85	35.85	35	35.85
Productive hours available	DELIVERY TOTALS		5,016	4,818	5,214	5,100	4,800	4,416	3,696	4,488	5,214	5,576	5,320	4,270	5,388.4	5,175.7	5,664.3	5,377.5	5,377.5	4,947.3	4,015.2	4,875.6	5,664.3	5,879.4	5,449.2	4,373.7	57,928	62,188.1
Billable hours demanded	DELIVERY TOTALS		3,133.3	2,928.7	3,104.4	3,337.6	3,567.8	3,958.1	3,969.1	4,109.4	4,015.9217	3,710.023	3,436.058	3,114.4555	3,246.2705	3,481.8909	3,701.9768	3,797.6449	3,779.5715	3,672.2803	3,593.8871	3,551.8397	3,437.3094	3,550.0137	3,509.4154	3,298.4394	42,384.8581	42,620.5396
Billable hours worked by own staff	DELIVERY TOTALS		3,133	2,928.4	3,104.1	3,337.3	3,567.5	3,643.3	3,166.1	3,695.8	3,934.2224	3,710.023	3,436.058	3,114.4555	3,246.2705	3,481.8909	3,701.9768	3,797.6449	3,779.5715	3,672.2803	3,367.3038	3,551.8397	3,437.3094	3,550.0137	3,509.4154	3,298.4394	40,770.2589	42,393.9563
Billable hours bought from freelancers	DELIVERY TOTALS		0.3	0.3	0.3	0.3	0.3	314.8	803	413.6	81.6993	0	0	0	0	0	0	0	0	0	226.5833	0	0	0	0	0	1,614.5993	226.5833
UTILISATION (own billable / productive hours)	DELIVERY TOTALS		62.46%	60.78%	59.53%	65.44%	74.32%	82.5%	85.66%	82.35%	75.45%	66.54%	64.59%	72.94%	60.25%	67.27%	65.36%	70.62%	70.28%	74.23%	83.86%	72.85%	60.68%	60.38%	64.4%	75.42%	70.38%	68.17%
Standard value of all hours (EUR, rate card)	DELIVERY TOTALS		334,161.655	312,028.455	331,188.96	357,021.64	381,933.655	423,447.145	424,449.65	439,767.64	429,931.2701	397,808.3827	368,010.612	332,953.4965	361,676.2813	388,245.3289	413,042.8869	423,572.406	421,532.0669	408,991.1139	400,027.1642	395,402.7857	382,585.4791	395,441.614	390,797.1583	366,826.6029	4,532,702.5614	4,748,140.8881
Fee revenue (EUR): retainers, projects, time and materials, media fees	DELIVERY TOTALS	FX	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	356,904.5251	376,271.3088	381,678.4181	361,750.1865	340,715.4697	301,117.6971	309,181.7094	335,204.0585	362,074.4695	375,776.3889	374,765.6587	363,092.7081	353,507.0062	348,107.0708	336,724.456	350,703.1521	352,071.614	328,007.5757	3,931,975.9212	4,189,215.8677
REALISATION (fee revenue / standard value)	DELIVERY TOTALS		85.23%	84.44%	84.84%	85.58%	84.41%	84.16%	84.09%	85.56%	88.78%	90.94%	92.58%	90.44%	85.49%	86.34%	87.66%	88.72%	88.91%	88.78%	88.37%	88.04%	88.01%	88.69%	90.09%	89.42%	86.75%	88.23%
Effective fee per hour worked (EUR)	DELIVERY TOTALS		90.8917	89.9634	90.5066	91.5448	90.3662	90.0317	89.9208	91.5636	95.0413	97.5062	99.1588	96.6839	95.2421	96.2707	97.8057	98.9498	99.1556	98.8739	98.3634	98.0075	97.9616	98.7892	100.322	99.4433	92.7684	98.291
Value written off vs the rate card (EUR)	DELIVERY TOTALS	standard value - fee revenue	49,370.7174	48,552.6115	50,220.252	51,481.7411	59,525.1545	67,092.7176	67,545.1249	63,496.3312	48,252.852	36,058.1963	27,295.1423	31,835.7994	52,494.5719	53,041.2703	50,968.4174	47,796.0172	46,766.4082	45,898.4059	46,520.158	47,295.7148	45,861.0231	44,738.462	38,725.5444	38,819.0272	600,726.6402	558,925.0204
FREELANCER COST (EUR ex VAT)	DELIVERY TOTALS	A: purchase ledger; F: freelancer hours x rate + specialists, inflated	5,062.83	5,921.18	5,125.2	6,532.51	5,209.98	25,536.25	59,683.52	32,476.4	11,627.4452	5,500	5,500	5,500	5,747.5	5,747.5	5,747.5	5,747.5	5,747.5	5,747.5	21,981.5604	5,747.5	5,747.5	5,747.5	5,747.5	5,747.5	173,675.3152	85,204.0604
Own hours charged at standard cost rate (EUR)	DELIVERY TOTALS	own hours x standard cost rate x pay inflation	158,758.7964	148,004.9101	157,462.9842	170,122.7738	182,222.3586	184,907.1041	159,868.2432	187,288.3438	200,391.7522	190,340.3398	175,756.0739	158,520.4852	173,505.9563	186,489.753	198,631.3065	203,637.5672	202,638.1517	196,220.9178	179,180.5267	189,586.359	183,419.8054	189,808.9883	187,473.0631	175,579.2603	2,073,644.1653	2,266,171.6554
Recovery variance: own hours at standard cost less delivery payroll (+ over / - under)	DELIVERY TOTALS	People	-19,361.1156	-29,356.3559	-22,886.0358	-16,304.7802	4,530.6066	7,619.4281	-23,140.7208	3,285.2458	18,825.1522	2,217.5398	-17,317.3261	-34,552.9148	-31,338.7997	-18,355.003	-8,394.6571	-3,388.3965	-4,387.812	-10,805.0459	-27,845.437	-17,439.6046	-23,606.1582	-17,216.9753	-19,552.9006	-31,446.7033	-126,441.2767	-213,777.4932
Standard cost rate: brand and content retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	46.5236	48.6172
Standard cost rate: performance retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	46.6714	48.7716
Standard cost rate: product design and development retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	54.0743	56.5076
Standard cost rate: fixed-fee projects	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	52.9164	55.2977
Standard cost rate: time and materials	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	55.0597	57.5374
Standard cost rate: media management	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	47.3612	49.4925
Rate card: brand and content retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	106.652	106.652	106.652	106.652	106.652	106.652	106.652	106.652	106.652	106.652	106.652	106.652	102.55	106.652
Rate card: performance retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	106.912	106.912	106.912	106.912	106.912	106.912	106.912	106.912	106.912	106.912	106.912	106.912	102.8	106.912
Rate card: product design and development retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	114.92	114.92	114.92	114.92	114.92	114.92	114.92	114.92	114.92	114.92	114.92	114.92	110.5	114.92
Rate card: fixed-fee projects	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	112.892	112.892	112.892	112.892	112.892	112.892	112.892	112.892	112.892	112.892	112.892	112.892	108.55	112.892
Rate card: time and materials	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	110	110	110	110	110	110	110	110	110	110	110	110	114.4	114.4	114.4	114.4	114.4	114.4	114.4	114.4	114.4	114.4	114.4	114.4	110	114.4
Rate card: media management	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	104	104	104	104	104	104	104	104	104	104	104	104	108.16	108.16	108.16	108.16	108.16	108.16	108.16	108.16	108.16	108.16	108.16	108.16	104	108.16

CLIENTS: REVENUE BY STREAM, HOURS, INVOICING, CASH, RECEIVABLES AND CONTRACT POSITIONS (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Retainer fees	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Retainers	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	43,680	43,680	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	504,000	560,160
Project fees	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Projects	23,398.5	14,877	8,673.5	0	0	0	8,234.38	21,717.5	25,145.4348	21,067.8009	8,834.8843	0	0	0	0	0	0	0	0	0	0	0	0	0	131,949	0
Time and materials	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		65,398.5	56,877	50,673.5	42,000	42,000	42,000	50,234.38	63,717.5	67,145.4348	63,067.8009	50,834.8843	42,000	43,680	43,680	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	635,949	560,160
Revenue (EUR at the monthly average rate)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		75,222.5673	65,282.066	58,091.1603	48,426.7085	48,457.4382	48,582.996	58,497.0946	74,426.7676	78,396.9676	73,636.0463	59,353.2648	49,037.9227	50,999.4396	50,999.4396	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	737,410.9998	654,025.7799
Production cost (EUR)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	revenue - production cost	75,222.5673	65,282.066	58,091.1603	48,426.7085	48,457.4382	48,582.996	58,497.0946	74,426.7676	78,396.9676	73,636.0463	59,353.2648	49,037.9227	50,999.4396	50,999.4396	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	55,202.6901	737,410.9998	654,025.7799
Hours worked (retainers, projects, time and materials, media)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	engine sheets	761.1	653	599.8	486.3	483.1	490.1	566.9	699.1	712.4517	674.0739	558.9406	475.7887	475.7887	475.7887	517.0388	517.0388	517.0388	517.0388	517.0388	517.0388	517.0388	517.0388	517.0388	517.0388	7,160.655	6,121.965
Delivery cost at standard (EUR)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	hours x standard cost rate of the work type	40,870.7642	35,129.1928	32,328.0484	26,296.3283	26,123.2906	26,501.8107	30,564.9825	37,566.6722	38,251.3008	36,220.4855	30,128.0397	25,727.9399	26,885.6972	26,885.6972	28,897.5267	28,897.5267	28,897.5267	28,897.5267	28,897.5267	28,897.5267	28,897.5267	28,897.5267	28,897.5267	28,897.5267	385,708.8555	342,746.6618
Media spend rebilled at cost (not revenue)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	fees + media + recharges	80,000	42,000	70,500	42,000	42,000	42,000	67,500	42,000	76,000	42,000	67,500	42,000	43,680	43,680	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	655,500	560,160
VAT on invoices	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		80,000	42,000	70,500	42,000	42,000	42,000	67,500	42,000	76,000	42,000	67,500	42,000	43,680	43,680	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	655,500	560,160
Cash received	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	A: bank; F: opening + invoiced - closing at days to collect	41,018.64	84,117.35	42,294.42	66,531.52	43,620.08	49,695.84	41,559.96	61,230.8	44,710.42	70,333.3333	47,666.6667	63,250	46,250	43,400	43,680	46,680	47,280	47,280	47,280	47,280	47,280	47,280	47,280	47,280	656,029.03	558,250
RECEIVABLE (incl. VAT)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	opening + invoiced - received	92,760.39	50,643.04	78,848.62	54,317.1	52,697.02	45,001.18	70,941.22	51,710.42	83,000	54,666.6667	74,500	53,250	50,680	50,960	54,560	55,160	55,160	55,160	55,160	55,160	55,160	55,160	55,160	55,160	53,250	55,160
Contract position (+ unbilled work / - deferred income)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	opening + revenue - invoiced revenue	4,949.5	19,826.5	0	0	0	0	-17,265.62	4,451.88	-4,402.6852	16,665.1157	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		107,088.8825	57,791.8978	90,804.9014	62,703.7229	60,764.7568	52,218.8726	82,901.4058	60,375.5137	96,908.2757	63,827.1374	86,983.9342	62,173.0805	59,172.4267	59,499.3462	63,702.5967	64,403.1384	64,403.1384	64,403.1384	64,403.1384	64,403.1384	64,403.1384	64,403.1384	64,403.1384	64,403.1384	62,173.0805	64,403.1384
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		35.2489	25.2385	37.3558	32.0629	31.1066	32.5723	42.7052	31.1286	40.8065	31.16	36.6275	32.0554	30.1738	35.9273	36.9569	36.3903	35.4667	35.4667	35.4667	35.4667	35.4667	35.4667	35.4667	35.4667	32.0554	35.4667
Retainer fees	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Retainers	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	14,040	14,040	14,040	14,040	14,040	14,040	14,040	14,040	14,040	180,000	171,360
Project fees	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	TM_Media	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	5,500	6,050	7,425	6,600	4,675	4,675	5,225	4,950	4,950	4,702.5	4,207.5	4,455	4,950	5,445	6,682.5	5,940	68,414.74	60,857.5
Production recharged (principal)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		20,174.76	19,773.96	20,334.27	21,207.19	20,624.28	19,924.87	19,798.89	21,001.52	20,500	21,050	22,425	21,600	19,675	19,675	20,225	18,990	18,990	18,742.5	18,247.5	18,495	18,990	19,485	20,722.5	19,980	248,414.74	232,217.5
Revenue (EUR at the monthly average rate)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		23,205.383	22,696.0803	23,310.8299	24,452.2478	23,795.2327	23,047.8543	23,055.476	24,531.3336	23,935.1765	24,577.3398	26,182.748	25,219.5031	22,971.9316	22,971.9316	23,614.0949	22,172.1465	22,172.1465	21,883.173	21,305.226	21,594.1995	22,172.1465	22,750.0934	24,194.9608	23,328.0404	288,009.205	271,130.0906
Production cost (EUR)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	revenue - production cost	23,205.383	22,696.0803	23,310.8299	24,452.2478	23,795.2327	23,047.8543	23,055.476	24,531.3336	23,935.1765	24,577.3398	26,182.748	25,219.5031	22,971.9316	22,971.9316	23,614.0949	22,172.1465	22,172.1465	21,883.173	21,305.226	21,594.1995	22,172.1465	22,750.0934	24,194.9608	23,328.0404	288,009.205	271,130.0906
Hours worked (retainers, projects, time and materials, media)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	engine sheets	257.3	259.6	251.4	257	251.6	260.9	259.6	265.1	252.4688	252.4688	252.4688	252.4688	252.4688	252.4688	252.4688	233.2219	233.2219	233.2219	233.2219	233.2219	233.2219	233.2219	233.2219	233.2219	3,072.375	2,856.4031
Delivery cost at standard (EUR)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	hours x standard cost rate of the work type	12,020.778	12,127.7823	11,746.2888	12,006.8209	11,755.5935	12,188.263	12,127.7823	12,383.6621	11,796.0109	11,796.0109	11,796.0109	11,796.0109	12,326.8313	12,326.8313	12,326.8313	11,391.1029	11,391.1029	11,391.1029	11,391.1029	11,391.1029	11,391.1029	11,391.1029	11,391.1029	11,391.1029	143,541.0141	139,500.4203
Media spend rebilled at cost (not revenue)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	TM_Media	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	55,000	60,500	74,250	66,000	46,750	46,750	52,250	49,500	49,500	47,025	42,075	44,550	49,500	54,450	66,825	59,400	684,147.39	608,575
Invoiced ex VAT	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	fees + media + recharges	101,922.38	52,513.52	58,676.98	113,279.11	61,867.04	54,173.56	97,787.79	66,016.75	60,500	111,550	81,675	72,600	96,425	51,425	57,475	96,570	54,450	51,727.5	88,402.5	49,005	54,450	102,015	73,507.5	65,340	932,562.13	840,792.5
VAT on invoices	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		101,922.38	52,513.52	58,676.98	113,279.11	61,867.04	54,173.56	97,787.79	66,016.75	60,500	111,550	81,675	72,600	96,425	51,425	57,475	96,570	54,450	51,727.5	88,402.5	49,005	54,450	102,015	73,507.5	65,340	932,562.13	840,792.5
Cash received	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	A: bank; F: opening + invoiced - closing at days to collect	68,870.03	100,682.27	53,418.87	52,918.66	120,402.2	65,730.95	54,774.75	98,750.33	59,142.85	60,500	111,550	81,675	72,600	96,425	51,425	57,475	96,570	54,450	51,727.5	88,402.5	49,005	54,450	102,015	73,507.5	928,415.91	848,052.5
RECEIVABLE (incl. VAT)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	opening + invoiced - received	101,506.13	53,337.38	58,595.49	118,955.94	60,420.78	48,863.39	91,876.43	59,142.85	60,500	111,550	81,675	72,600	96,425	51,425	57,475	96,570	54,450	51,727.5	88,402.5	49,005	54,450	102,015	73,507.5	65,340	72,600	65,340
Contract position (+ unbilled work / - deferred income)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	opening + revenue - invoiced revenue	-30,000	-15,000	0	-30,000	-15,000	0	-30,000	-15,000	0	-30,000	-15,000	0	-30,000	-15,000	0	-28,080	-14,040	0	-28,080	-14,040	0	-28,080	-14,040	0	0	0
Receivable (EUR at the month-end rate)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		117,185.5576	60,866.5754	67,480.6698	137,322.8745	69,670.9985	56,700.5384	107,366.1435	69,053.393	70,637.96	130,242.3874	95,361.246	84,765.552	112,582.8974	60,042.266	67,106.062	112,752.195	63,574.164	60,395.4558	103,216.0704	57,216.7476	63,574.164	119,109.6114	85,825.1214	76,288.9968	84,765.552	76,288.9968
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		30.2758	20.9984	25.0755	48.3307	23.5664	19.4329	39.1862	24.7448	24.5987	42.7332	29.3576	24.9078	35.0776	21.2745	25.5289	42.8636	23.8175	23.2681	41.4344	23.63	25.883	45.2804	29.1508	24.7403	24.9078	24.7403
Retainer fees	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Retainers	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,166	10,166	10,166	10,166	10,166	10,166	10,166	80,500	128,662
Project fees	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,166	10,166	10,166	10,166	10,166	10,166	10,166	80,500	128,662
Revenue (EUR at the monthly average rate)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	13,302.487	13,391.5575	13,432.8533	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	93,835.0987	150,221.8382
Production cost (EUR)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	revenue - production cost	0	0	0	0	0	13,302.487	13,391.5575	13,432.8533	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	93,835.0987	150,221.8382
Hours worked (retainers, projects, time and materials, media)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	engine sheets	0	0	0	0	0	153.2	146.2	148.3	146.4633	146.4633	146.4633	146.4633	146.4633	146.4633	146.4633	146.4633	146.4633	124.4938	124.4938	124.4938	124.4938	124.4938	124.4938	124.4938	1,033.5533	1,603.7735
Delivery cost at standard (EUR)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	hours x standard cost rate of the work type	0	0	0	0	0	7,127.4154	6,801.7503	6,899.4498	6,814.0015	6,814.0015	6,814.0015	6,814.0015	7,120.6315	7,120.6315	7,120.6315	7,120.6315	7,120.6315	6,052.5368	6,052.5368	6,052.5368	6,052.5368	6,052.5368	6,052.5368	6,052.5368	48,084.6214	77,970.9153
Media spend rebilled at cost (not revenue)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	fees + media + recharges	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,166	10,166	10,166	10,166	10,166	10,166	10,166	80,500	128,662
VAT on invoices	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,166	10,166	10,166	10,166	10,166	10,166	10,166	80,500	128,662
Cash received	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	-276.45	12,029.94	10,077.43	12,669.08	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,166	10,166	10,166	10,166	10,166	10,166	69,000	129,996
RECEIVABLE (incl. VAT)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	opening + invoiced - received	0	0	0	0	0	11,776.45	11,246.51	12,669.08	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,166	10,166	10,166	10,166	10,166	10,166	10,166	11,500	10,166
Contract position (+ unbilled work / - deferred income)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	13,665.2626	13,142.5917	14,792.0325	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	13,427.0503	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	11,869.5124	13,427.0503	11,869.5124
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	93.3924	44.5949	33.4904	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	27.9545	29.126	30.4	30.4	30.4	30.4	30.4	30.4	30.4
Retainer fees	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	19,322.2055	20,055.9601	18,588.4509	14,919.6777	19,331.9889	18,568.8841	20,095.0937	19,077.6206	19,077.6206	17,551.411	14,244.6234	17,297.0427	20,095.0937	20,858.1985	19,331.9889	15,516.4648	212,360.4141	221,046.0309
Media management fees	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	19,322.2055	20,055.9601	18,588.4509	14,919.6777	19,331.9889	18,568.8841	20,095.0937	19,077.6206	19,077.6206	17,551.411	14,244.6234	17,297.0427	20,095.0937	20,858.1985	19,331.9889	15,516.4648	212,360.4141	221,046.0309
Revenue (EUR at the monthly average rate)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		23,639.441	20,794.9842	21,308.262	17,149.4425	18,843.9324	20,506.6975	15,909.147	22,918.3166	22,560.0195	23,416.7291	21,703.3099	17,419.7619	22,571.4423	21,680.4643	23,462.4203	22,274.4496	22,274.4496	20,492.4937	16,631.5891	20,195.501	23,462.4203	24,353.3983	22,571.4423	18,116.5524	246,170.0436	258,086.623
Production cost (EUR)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	revenue - production cost	23,639.441	20,794.9842	21,308.262	17,149.4425	18,843.9324	20,506.6975	15,909.147	22,918.3166	22,560.0195	23,416.7291	21,703.3099	17,419.7619	22,571.4423	21,680.4643	23,462.4203	22,274.4496	22,274.4496	20,492.4937	16,631.5891	20,195.501	23,462.4203	24,353.3983	22,571.4423	18,116.5524	246,170.0436	258,086.623
Hours worked (retainers, projects, time and materials, media)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	engine sheets	257.5	224.5	222.5	190.7	206.7	215.2	169	246.3	240	249.1139	230.8861	185.3165	230.8861	221.7722	240	227.8481	227.8481	209.6203	170.1266	206.5823	240	249.1139	230.8861	185.3165	2,637.7165	2,640
Delivery cost at standard (EUR)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	hours x standard cost rate of the work type	14,177.873	12,360.9028	12,250.7834	10,499.8849	11,380.8402	11,848.8476	9,305.0894	13,561.2043	13,214.3282	13,716.1381	12,712.5183	10,203.4686	13,284.5816	12,760.1902	13,808.973	13,109.7845	13,109.7845	12,061.0017	9,788.6391	11,886.2046	13,808.973	14,333.3643	13,284.5816	10,662.6247	145,231.8789	151,898.7026
Media spend rebilled at cost (not revenue)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	fees + media + recharges	14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	19,322.2055	20,055.9601	18,588.4509	14,919.6777	19,331.9889	18,568.8841	20,095.0937	19,077.6206	19,077.6206	17,551.411	14,244.6234	17,297.0427	20,095.0937	20,858.1985	19,331.9889	211,636.1265	220,449.2438
VAT on invoices	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	19,322.2055	20,055.9601	18,588.4509	14,919.6777	19,331.9889	18,568.8841	20,095.0937	19,077.6206	19,077.6206	17,551.411	14,244.6234	17,297.0427	20,095.0937	20,858.1985	19,331.9889	211,636.1265	220,449.2438
Cash received	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	A: bank; F: opening + invoiced - closing at days to collect	17,042.51	16,709.45	18,134.38	19,624.88	16,268.18	17,166.74	18,356.48	13,913.57	17,413.89	16,641.29	19,471.4027	19,689.0828	19,322.2055	16,754.0643	17,125.8333	18,950.4365	19,331.9889	19,586.3572	19,077.6206	18,314.5158	15,898.0172	15,770.833	18,696.0682	20,476.6461	210,431.8556	219,304.5865
RECEIVABLE (incl. VAT)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	opening + invoiced - received	24,565.04	28,407.72	28,390.97	27,353.5	25,958.86	25,124.91	24,496.47	24,244.88	26,451.59	29,132.5055	29,717.0629	28,616.4309	24,213.9031	26,791.8277	28,234.8785	29,379.5357	29,125.1675	28,616.4309	27,090.2213	23,020.3289	24,419.3544	28,743.6151	30,905.7454	29,761.0882	28,616.4309	29,761.0882
Contract position (+ unbilled work / - deferred income)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	opening + revenue - invoiced revenue	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	19,322.2055	20,055.9601	18,588.4509	14,919.6777	19,331.9889	18,568.8841	20,095.0937	19,077.6206	19,077.6206	17,551.411	14,244.6234	17,297.0427	20,095.0937	20,858.1985	19,331.9889	15,516.4648	14,919.6777	15,516.4648
Receivable (EUR at the month-end rate)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		28,359.5474	32,417.8021	32,696.0603	31,576.912	29,933.0743	29,154.6682	28,626.4009	28,307.5845	30,884.072	34,014.2274	34,696.7388	33,411.6744	28,271.4168	31,281.3232	32,966.1854	34,302.6524	34,005.6598	33,411.6744	31,629.7185	26,877.8359	28,511.2955	33,560.1708	36,084.6084	34,748.1414	33,411.6744	34,748.1414
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		52.607	49.7068	48.9785	43.569	45.8998	46.0177	45.6546	46.3328	47.2918	50.5065	45.9365	45.0228	41.2274	46.2417	48.7504	46.2	46.0018	44.8035	44.3507	41.268	45.3637	50.7665	48.3878	45.0228	45.0228	45.0228
Retainer fees	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Projects	0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	8,738.67	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,000	0
Time and materials	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	5,486.168	5,084.7411	4,081.1738	5,288.1307	5,079.3887	5,496.8727	5,218.5501	5,218.5501	4,801.0661	3,896.5174	4,731.4854	5,496.8727	5,705.6147	5,288.1307	4,244.4207	14,652.0829	60,465.6
Media management fees	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	8,738.67	5,486.168	5,084.7411	4,081.1738	5,288.1307	5,079.3887	5,496.8727	5,218.5501	5,218.5501	4,801.0661	3,896.5174	4,731.4854	5,496.8727	5,705.6147	5,288.1307	4,244.4207	159,652.0829	60,465.6
Revenue (EUR at the monthly average rate)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	8,976.1667	24,570.7895	33,793.2944	37,811.4517	34,073.9447	18,551.7398	10,203.0053	6,405.4829	5,936.789	4,765.0544	6,174.2606	5,930.5398	6,417.9814	6,093.0203	6,093.0203	5,605.5787	4,549.4552	5,524.3384	6,417.9814	6,661.7022	6,174.2606	4,955.6565	185,087.7185	70,597.7956
Production cost (EUR)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	revenue - production cost	0	0	8,976.1667	24,570.7895	33,793.2944	37,811.4517	34,073.9447	18,551.7398	10,203.0053	6,405.4829	5,936.789	4,765.0544	6,174.2606	5,930.5398	6,417.9814	6,093.0203	6,093.0203	5,605.5787	4,549.4552	5,524.3384	6,417.9814	6,661.7022	6,174.2606	4,955.6565	185,087.7185	70,597.7956
Hours worked (retainers, projects, time and materials, media)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	engine sheets	0	0	78.3	213.1	292.9	358.3	302.7	164.3	90.4	67.9402	62.9689	50.5409	62.9689	60.4833	65.4545	62.1404	62.1404	57.1692	46.3982	56.3406	65.4545	67.9402	62.9689	50.5409	1,681.4499	720
Delivery cost at standard (EUR)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	hours x standard cost rate of the work type	0	0	4,143.357	11,276.4928	15,499.2245	18,959.9595	16,017.8056	8,694.1706	4,783.6459	3,740.7649	3,467.0504	2,782.7642	3,623.0677	3,480.0519	3,766.0835	3,575.3958	3,575.3958	3,289.3641	2,669.6288	3,241.6922	3,766.0835	3,909.0994	3,623.0677	2,907.9886	89,365.2355	41,426.9189
Media spend rebilled at cost (not revenue)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	fees + media + recharges	0	0	43,500	0	0	58,000	0	0	43,500	0	5,486.168	5,084.7411	4,081.1738	5,288.1307	5,079.3887	5,496.8727	5,218.5501	5,218.5501	4,801.0661	3,896.5174	4,731.4854	5,496.8727	5,705.6147	5,288.1307	155,570.9091	60,302.353
VAT on invoices	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	43,500	0	0	58,000	0	0	43,500	0	5,486.168	5,084.7411	4,081.1738	5,288.1307	5,079.3887	5,496.8727	5,218.5501	5,218.5501	4,801.0661	3,896.5174	4,731.4854	5,496.8727	5,705.6147	5,288.1307	155,570.9091	60,302.353
Cash received	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	0	0	6,145.72	37,354.28	0	-720.54	58,720.54	0	0	43,500	0	5,486.168	5,084.7411	4,081.1738	5,288.1307	5,079.3887	5,496.8727	5,218.5501	5,218.5501	4,801.0661	3,896.5174	4,731.4854	5,496.8727	5,705.6147	150,486.168	60,098.9634
RECEIVABLE (incl. VAT)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	opening + invoiced - received	0	0	37,354.28	0	0	58,720.54	0	0	43,500	0	5,486.168	5,084.7411	4,081.1738	5,288.1307	5,079.3887	5,496.8727	5,218.5501	5,218.5501	4,801.0661	3,896.5174	4,731.4854	5,496.8727	5,705.6147	5,288.1307	5,084.7411	5,288.1307
Contract position (+ unbilled work / - deferred income)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	opening + revenue - invoiced revenue	0	0	-35,670	-14,360	14,930	-10,382	18,879	34,761.33	0	5,486.168	5,084.7411	4,081.1738	5,288.1307	5,079.3887	5,496.8727	5,218.5501	5,218.5501	4,801.0661	3,896.5174	4,731.4854	5,496.8727	5,705.6147	5,288.1307	4,244.4207	4,081.1738	4,244.4207
Receivable (EUR at the month-end rate)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	43,018.5298	0	0	68,138.6665	0	0	50,789.277	0	6,405.4829	5,936.789	4,765.0544	6,174.2606	5,930.5398	6,417.9814	6,093.0203	6,093.0203	5,605.5787	4,549.4552	5,524.3384	6,417.9814	6,661.7022	6,174.2606	5,936.789	6,174.2606
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	78.3152	0	0	92.333	0	0	91.2	0	10.2139	43.8684	25.4027	33.3663	32.061	31.6	30.1322	29.869	28.7342	25.536	32.1326	35.4916	32.6568	29.2456	43.8684	29.2456
Retainer fees	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Retainers	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	16,848	16,848	16,848	16,848	16,848	16,848	216,000	209,088
Project fees	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Projects	24,537.6	17,880.37	13,892.31	5,436.92	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,747.2	0
Time and materials	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		42,537.6	35,880.37	31,892.31	23,436.92	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	16,848	16,848	16,848	16,848	16,848	16,848	277,747.2	209,088
Revenue (EUR at the monthly average rate)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		48,927.5362	41,182.6341	36,560.7525	27,023.1641	20,767.4735	20,821.284	20,960.6987	21,025.3355	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	19,671.2124	19,671.2124	19,671.2124	19,671.2124	19,671.2124	19,671.2124	321,333.889	244,124.7898
Production cost (EUR)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	revenue - production cost	48,927.5362	41,182.6341	36,560.7525	27,023.1641	20,767.4735	20,821.284	20,960.6987	21,025.3355	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	19,671.2124	19,671.2124	19,671.2124	19,671.2124	19,671.2124	19,671.2124	321,333.889	244,124.7898
Hours worked (retainers, projects, time and materials, media)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	engine sheets	465.1	442.2	356.3	273.6	207.3	195.5	216.4	199.9	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	202.5213	182.2691	182.2691	182.2691	182.2691	182.2691	182.2691	3,166.385	2,308.7422
Delivery cost at standard (EUR)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	hours x standard cost rate of the work type	24,854.0056	23,647.4295	19,092.4132	14,726.5287	11,209.6008	10,571.5241	11,701.6769	10,809.451	10,951.1933	10,951.1933	10,951.1933	10,951.1933	11,443.997	11,443.997	11,443.997	11,443.997	11,443.997	11,443.997	10,299.5973	10,299.5973	10,299.5973	10,299.5973	10,299.5973	10,299.5973	170,417.4029	130,461.5654
Media spend rebilled at cost (not revenue)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	fees + media + recharges	66,000	18,000	18,000	54,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	16,848	16,848	16,848	16,848	16,848	16,848	300,000	209,088
VAT on invoices	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		66,000	18,000	18,000	54,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	16,848	16,848	16,848	16,848	16,848	16,848	300,000	209,088
Cash received	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	A: bank; F: opening + invoiced - closing at days to collect	23,008.3	62,068.25	18,299.53	20,094.93	49,958.26	18,207.37	20,703.32	17,431.82	17,702.08	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	16,848	16,848	16,848	16,848	16,848	301,473.86	210,240
RECEIVABLE (incl. VAT)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	opening + invoiced - received	62,465.56	18,397.31	18,097.78	52,002.85	20,044.59	19,837.22	17,133.9	17,702.08	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	16,848	16,848	16,848	16,848	16,848	16,848	18,000	16,848
Contract position (+ unbilled work / - deferred income)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	opening + revenue - invoiced revenue	-1,209.6	16,670.77	30,563.08	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		72,114.477	20,994.3056	20,842.0531	60,032.1501	23,113.3494	23,018.8911	20,022.5538	20,668.4102	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	21,016.2526	19,671.2124	19,671.2124	19,671.2124	19,671.2124	19,671.2124	19,671.2124	21,016.2526	19,671.2124
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		28.772	13.3161	16.1815	52.6962	20.3119	20.1017	28.9373	29.8968	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	29.0747	29.7226	30.4	30.4	30.4	30.4	30.4	30.4
Retainer fees	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	4,220	10,360	12,960	13,702.963	10,540.7407	4,216.2963	0	0	0	0	0	0	0	0	0	0	0	0	0	56,000	0
Time and materials	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	4,147.7625	5,513.3484	1,991.7918	1,532.1476	612.859	0	0	0	0	0	0	0	0	0	0	0	0	0	13,797.9093	0
REVENUE (GBP)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	4,220	14,507.7625	18,473.3484	15,694.7548	12,072.8883	4,829.1553	0	0	0	0	0	0	0	0	0	0	0	0	0	69,797.9093	0
Revenue (EUR at the monthly average rate)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	4,881.4344	16,894.0466	21,578.2416	18,324.7184	14,095.9372	5,638.3749	0	0	0	0	0	0	0	0	0	0	0	0	0	81,412.753	0
Production cost (EUR)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	4,200	5,600	2,022.2222	1,555.5556	622.2222	0	0	0	0	0	0	0	0	0	0	0	0	0	14,000	0
NET REVENUE (EUR)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	revenue - production cost	0	0	0	0	0	4,881.4344	12,694.0466	15,978.2416	16,302.4961	12,540.3816	5,016.1527	0	0	0	0	0	0	0	0	0	0	0	0	0	67,412.753	0
Hours worked (retainers, projects, time and materials, media)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	engine sheets	0	0	0	0	0	42.2	103.6	129.6	137.0296	105.4074	42.163	0	0	0	0	0	0	0	0	0	0	0	0	0	560	0
Delivery cost at standard (EUR)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	hours x standard cost rate of the work type	0	0	0	0	0	2,233.0737	5,482.1429	6,857.9703	7,251.1198	5,577.7845	2,231.1138	0	0	0	0	0	0	0	0	0	0	0	0	0	29,633.2049	0
Media spend rebilled at cost (not revenue)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	fees + media + recharges	0	0	0	0	0	16,800	4,147.7625	5,513.3484	24,391.7918	1,532.1476	17,412.859	0	0	0	0	0	0	0	0	0	0	0	0	0	69,797.9093	0
VAT on invoices	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	16,800	4,147.7625	5,513.3484	24,391.7918	1,532.1476	17,412.859	0	0	0	0	0	0	0	0	0	0	0	0	0	69,797.9093	0
Cash received	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	-1,898.27	18,401.35	4,729.32	5,228.7109	24,391.7918	1,532.1476	17,412.859	0	0	0	0	0	0	0	0	0	0	0	0	69,797.9093	0
RECEIVABLE (incl. VAT)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	opening + invoiced - received	0	0	0	0	0	18,698.27	4,444.6825	5,228.7109	24,391.7918	1,532.1476	17,412.859	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	0	-12,580	-2,220	10,740	2,042.963	12,583.7037	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	21,697.2661	5,194.0244	6,104.8838	28,479.1143	1,788.8889	20,330.7246	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	101.5049	19.3508	18.0211	65.3258	4.4448	36.6444	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Retainers	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	234,000	297,024
Project fees	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Projects	0	0	0	0	0	0	0	0	18,750	41,250	41,250	18,750	0	0	0	0	0	0	0	0	0	0	0	0	120,000	0
Time and materials	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Projects	0	0	0	0	0	0	0	0	6,087.9	13,393.38	13,393.38	6,087.9	0	0	0	0	0	0	0	0	0	0	0	0	38,962.56	0
REVENUE (USD)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	26,000	26,000	26,000	26,000	26,000	50,837.9	80,643.38	80,643.38	50,837.9	26,000	26,000	26,000	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	392,962.56	297,024
Revenue (EUR at the monthly average rate)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	22,413.7931	22,273.6229	22,571.4038	22,728.2661	22,529.3531	43,840.8934	69,544.1359	69,544.1359	43,840.8934	22,421.5247	22,421.5247	22,421.5247	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	339,286.4976	256,143.4978
Production cost (EUR)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Projects	0	0	0	0	0	0	0	0	4,687.5	10,312.5	10,312.5	4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	30,000	0
NET REVENUE (EUR)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	revenue - production cost	0	0	0	22,413.7931	22,273.6229	22,571.4038	22,728.2661	22,529.3531	39,153.3934	59,231.6359	59,231.6359	39,153.3934	22,421.5247	22,421.5247	22,421.5247	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	20,986.5471	309,286.4976	256,143.4978
Hours worked (retainers, projects, time and materials, media)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	engine sheets	0	0	0	251.1	255.8	244.2	240.5	235.1	384.6755	562.8005	562.8005	384.6755	236.238	236.238	236.238	212.6142	212.6142	212.6142	212.6142	212.6142	212.6142	212.6142	212.6142	212.6142	3,121.652	2,622.2418
Delivery cost at standard (EUR)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	hours x standard cost rate of the work type	0	0	0	13,578.0548	13,832.204	13,204.9422	13,004.8673	12,712.8661	20,629.1863	30,054.9267	30,054.9267	20,629.1863	13,349.2508	13,349.2508	13,349.2508	12,014.3257	12,014.3257	12,014.3257	12,014.3257	12,014.3257	12,014.3257	12,014.3257	12,014.3257	12,014.3257	167,701.1604	148,176.6837
Media spend rebilled at cost (not revenue)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	fees + media + recharges	0	0	0	26,000	26,000	26,000	26,000	26,000	68,087.9	39,393.38	87,393.38	68,087.9	26,000	26,000	26,000	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	392,962.56	297,024
VAT on invoices	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	26,000	26,000	26,000	26,000	26,000	68,087.9	39,393.38	87,393.38	68,087.9	26,000	26,000	26,000	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	24,336	392,962.56	297,024
Cash received	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	-6,422.24	21,362.46	22,766.7	25,566.49	29,807.61	23,918.98	47,043.95	53,740.64	63,393.38	77,740.64	47,043.95	26,000	26,000	25,168	24,336	24,336	24,336	24,336	24,336	24,336	24,336	281,177.97	372,304.59
RECEIVABLE (incl. VAT)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	opening + invoiced - received	0	0	0	32,422.24	37,059.78	40,293.08	40,726.59	36,918.98	81,087.9	73,437.33	107,090.07	111,784.59	60,043.95	39,000	39,000	37,336	36,504	36,504	36,504	36,504	36,504	36,504	36,504	36,504	111,784.59	36,504
Contract position (+ unbilled work / - deferred income)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	-17,250	24,000	17,250	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	27,706.5801	31,827.3617	35,363.4193	35,460.6791	31,837.6854	69,927.475	63,329.881	92,350.871	96,399.267	51,779.881	33,632.287	33,632.287	32,197.3094	31,479.8206	31,479.8206	31,479.8206	31,479.8206	31,479.8206	31,479.8206	31,479.8206	31,479.8206	96,399.267	31,479.8206
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	113.7272	64.9972	47.1119	47.6188	43.1668	61.5817	50.1755	50.1174	52.3144	30.174	29.6183	45.6	44.606	44.5838	45.6	45.6	45.6	45.6	45.6	45.6	45.6	52.3144	45.6
Retainer fees	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Retainers	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	10,296	10,296	10,296	10,296	10,296	10,296	132,000	127,776
Project fees	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	TM_Media	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	8,100	8,910	10,935	9,720	6,885	6,885	7,695	8,100	8,100	7,695	6,196.5	6,561	7,290	8,019	9,841.5	8,748	97,760.19	92,016
Production recharged (principal)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (USD)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		17,089.74	17,229.02	18,471.54	18,892.7	19,439.94	18,753.34	19,095.02	19,123.89	19,100	19,910	21,935	20,720	17,885	17,885	18,695	19,100	19,100	18,695	16,492.5	16,857	17,586	18,315	20,137.5	19,044	229,760.19	219,792
Revenue (EUR at the monthly average rate)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		14,440.6101	14,524.549	15,853.3579	16,286.8103	16,653.7651	16,280.3542	16,692.1806	16,571.1104	16,471.197	17,169.7137	18,916.0055	17,868.2304	15,423.4219	15,423.4219	16,121.9386	16,471.197	16,471.197	16,121.9386	14,222.5768	14,536.9093	15,165.5743	15,794.2394	17,365.902	16,422.9044	197,727.8843	189,541.2211
Production cost (EUR)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	revenue - production cost	14,440.6101	14,524.549	15,853.3579	16,286.8103	16,653.7651	16,280.3542	16,692.1806	16,571.1104	16,471.197	17,169.7137	18,916.0055	17,868.2304	15,423.4219	15,423.4219	16,121.9386	16,471.197	16,471.197	16,121.9386	14,222.5768	14,536.9093	15,165.5743	15,794.2394	17,365.902	16,422.9044	197,727.8843	189,541.2211
Hours worked (retainers, projects, time and materials, media)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	engine sheets	165.2	168.3	172.8	177.6	180.5	164.7	174.2	172.6	169.8913	169.8913	169.8913	169.8913	169.8913	169.8913	169.8913	169.8913	169.8913	169.8913	159.9021	159.9021	159.9021	159.9021	159.9021	159.9021	2,055.465	1,978.7603
Delivery cost at standard (EUR)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	hours x standard cost rate of the work type	7,758.4021	7,903.0835	8,113.1048	8,337.1276	8,472.4747	7,735.0664	8,178.4448	8,103.7705	7,977.3493	7,977.3493	7,977.3493	7,977.3493	8,336.3301	8,336.3301	8,336.3301	8,336.3301	8,336.3301	8,336.3301	7,849.1442	7,849.1442	7,849.1442	7,849.1442	7,849.1442	7,849.1442	96,510.8716	97,112.8456
Media spend rebilled at cost (not revenue)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	TM_Media	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	90,000	99,000	121,500	108,000	76,500	76,500	85,500	90,000	90,000	85,500	68,850	72,900	81,000	89,100	109,350	97,200	1,086,224.31	1,022,400
Invoiced ex VAT	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	fees + media + recharges	84,753.52	86,440.32	101,488.64	106,589.36	113,217.09	104,901.51	109,039.73	109,389.33	109,100	118,910	143,435	128,720	94,385	94,385	104,195	109,100	109,100	104,195	85,342.5	89,757	98,586	107,415	129,487.5	116,244	1,315,984.5	1,242,192
VAT on invoices	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		84,753.52	86,440.32	101,488.64	106,589.36	113,217.09	104,901.51	109,039.73	109,389.33	109,100	118,910	143,435	128,720	94,385	94,385	104,195	109,100	109,100	104,195	85,342.5	89,757	98,586	107,415	129,487.5	116,244	1,315,984.5	1,242,192
Cash received	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	A: bank; F: opening + invoiced - closing at days to collect	108,093.63	151,952.1	73,474.85	104,268.91	101,484.01	78,717.88	134,762.36	89,911.9	117,436.78	109,389.33	109,100	118,910	143,435	128,720	94,385	94,385	104,195	109,100	109,100	104,195	85,342.5	89,757	98,586	107,415	1,297,501.75	1,268,615.5
RECEIVABLE (incl. VAT)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	opening + invoiced - received	230,332.14	164,820.36	192,834.15	195,154.6	206,887.68	233,071.31	207,348.68	226,826.11	218,489.33	228,010	262,345	272,155	223,105	188,770	198,580	213,295	218,200	213,295	189,537.5	175,099.5	188,343	206,001	236,902.5	245,731.5	272,155	245,731.5
Contract position (+ unbilled work / - deferred income)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		193,247.8731	139,619.1105	167,711.0367	166,770.2957	177,677.4991	204,556.1787	180,538.6852	195,607.2008	188,417.8424	196,628.1476	226,237.4957	234,697.3094	192,398.2408	162,788.8927	171,248.7065	183,938.427	188,168.3339	183,938.427	163,450.7589	150,999.9138	162,420.6623	177,648.327	204,296.7403	211,910.5726	234,697.3094	211,910.5726
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		82.6172	58.5364	64.4943	60.4312	58.7253	65.4622	57.8014	63.9795	60.838	61.6318	64.4129	63.4691	55.5115	54.2248	61.818	63.2232	61.725	60.3375	57.8823	57.1765	62.7614	63.5225	64.4001	63.4601	63.4691	63.4601
Retainer fees	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Projects	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	25,872.1595	9,653.7905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Time and materials	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (USD)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	25,872.1595	9,653.7905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Revenue (EUR at the monthly average rate)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	5,757.5198	17,952.8988	24,660.0431	31,771.5412	31,626.8947	26,681.4634	26,498.6872	22,311.2793	8,325.1039	0	0	0	0	0	0	0	0	0	0	0	0	0	0	195,585.4314	0
Production cost (EUR)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	revenue - production cost	0	5,757.5198	17,952.8988	24,660.0431	31,771.5412	31,626.8947	26,681.4634	26,498.6872	22,311.2793	8,325.1039	0	0	0	0	0	0	0	0	0	0	0	0	0	0	195,585.4314	0
Hours worked (retainers, projects, time and materials, media)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	engine sheets	0	74.8	229.1	313.3	455.4	504.2	476.8	433.7	336.9663	125.7337	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,950	0
Delivery cost at standard (EUR)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	hours x standard cost rate of the work type	0	3,958.1495	12,123.1558	16,578.7198	24,098.1455	26,680.4677	25,230.5573	22,949.8589	17,831.0563	6,653.3792	0	0	0	0	0	0	0	0	0	0	0	0	0	0	156,103.49	0
Media spend rebilled at cost (not revenue)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	fees + media + recharges	0	63,000	0	0	16,500	67,500	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
VAT on invoices	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	63,000	0	0	16,500	67,500	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Disputed invoice held outside the collection curve (CR-03)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	raised May-26; settled in the scenario month	0	0	0	0	16,500	16,500	16,500	16,500	16,500	16,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Disputed invoice: cash recovered on settlement	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	amount x recovery share	0	0	0	0	0	0	0	0	0	0	8,250	0	0	0	0	0	0	0	0	0	0	0	0	0	8,250	0
Disputed invoice: written off on settlement	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	amount x (1 - recovery share)	0	0	0	0	0	0	0	0	0	0	8,250	0	0	0	0	0	0	0	0	0	0	0	0	0	8,250	0
Cash received	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	0	-6,791.25	42,203.85	27,587.4	0	-3,568.35	39,681.55	31,386.8	0	5,775	48,000	33,975	0	0	0	0	0	0	0	0	0	0	0	0	218,250	0
RECEIVABLE (incl. VAT)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	opening + invoiced - received - written off	0	69,791.25	27,587.4	0	16,500	87,568.35	47,886.8	16,500	28,050	90,225	33,975	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	opening + revenue - invoiced revenue	0	-56,170.43	-35,252.61	-6,646.96	13,939.96	-17,129.02	13,393.24	43,974.05	58,296.2095	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	59,120.0762	23,993.2162	0	14,170.3882	76,854.792	41,695.0805	14,229.0445	24,189.3756	77,807.0024	29,298.8962	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	67.3541	39.936	0	91.2	95.0742	51.9914	22.2933	221.4857	103.5034	38.9751	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Retainers	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	222,000	196,248
Project fees	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	7,656.25	16,843.75	16,843.75	7,656.25	0	0	0	0	0	0	0	0	0	0	0	41,343.75	7,656.25
Time and materials	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	26,156.25	35,343.75	35,343.75	24,010.25	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	263,343.75	203,904.25
Revenue (EUR at the monthly average rate)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	26,156.25	35,343.75	35,343.75	24,010.25	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	263,343.75	203,904.25
Production cost (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	revenue - production cost	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	26,156.25	35,343.75	35,343.75	24,010.25	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	263,343.75	203,904.25
Hours worked (retainers, projects, time and materials, media)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	engine sheets	245.6	240.6	251	231.6	238.5	233.5	245.4	234.3	225.0437	301.6062	393.4812	393.4812	267.8497	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	191.2872	3,234.1125	2,372.0087
Delivery cost at standard (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	hours x standard cost rate of the work type	11,426.196	11,193.578	11,677.4235	10,774.8657	11,095.8785	10,863.2605	11,416.8913	10,900.4794	10,469.8453	14,521.26	19,382.9577	19,382.9577	13,533.5685	9,299.8401	9,299.8401	9,299.8401	9,299.8401	9,299.8401	9,299.8401	9,299.8401	9,299.8401	9,299.8401	9,299.8401	9,299.8401	153,105.5937	115,831.8095
Media spend rebilled at cost (not revenue)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	fees + media + recharges	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	33,200	18,500	38,100	31,054	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	256,300	210,948
VAT on invoices	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	33,200	18,500	38,100	31,054	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	256,300	210,948
Cash received	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	A: bank; F: opening + invoiced - closing at days to collect	20,421.71	15,239.5	21,514.74	16,125.73	17,698.39	22,496.94	15,114.98	18,315.87	19,171.34	18,500	33,200	18,500	38,100	31,054	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	236,299.2	232,694
RECEIVABLE (incl. VAT)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	opening + invoiced - received	16,177.49	19,437.99	16,423.25	18,797.52	19,599.13	15,602.19	18,987.21	19,171.34	18,500	33,200	18,500	38,100	31,054	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	38,100	16,354
Contract position (+ unbilled work / - deferred income)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	-7,043.75	9,800	7,043.75	0	0	0	0	0	0	0	0	0	0	0	0	7,043.75	0
Receivable (EUR at the month-end rate)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		16,177.49	19,437.99	16,423.25	18,797.52	19,599.13	15,602.19	18,987.21	19,171.34	18,500	33,200	18,500	38,100	31,054	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	16,354	38,100	16,354
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		26.5836	31.9413	26.9874	30.8889	32.2061	25.6382	31.2006	31.5032	30.4	43.1316	24.0342	38.694	32.3103	17.4426	23.3914	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	38.694	30.4
Retainer fees	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Retainers	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	14,976	14,976	14,976	192,000	188,928
Project fees	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	TM_Media	3,665.15	3,603.32	3,776.17	4,148.92	3,786.87	4,056.14	3,502.94	3,509.39	4,000	4,400	5,400	4,800	3,400	3,400	3,800	4,000	4,000	3,800	3,400	3,600	4,000	3,960	4,860	4,320	48,648.9	46,540
Production recharged (principal)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		19,665.15	19,603.32	19,776.17	20,148.92	19,786.87	20,056.14	19,502.94	19,509.39	20,000	20,400	21,400	20,800	19,400	19,400	19,800	20,000	20,000	19,800	19,400	19,600	20,000	18,936	19,836	19,296	240,648.9	235,468
Revenue (EUR at the monthly average rate)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		19,665.15	19,603.32	19,776.17	20,148.92	19,786.87	20,056.14	19,502.94	19,509.39	20,000	20,400	21,400	20,800	19,400	19,400	19,800	20,000	20,000	19,800	19,400	19,600	20,000	18,936	19,836	19,296	240,648.9	235,468
Production cost (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	revenue - production cost	19,665.15	19,603.32	19,776.17	20,148.92	19,786.87	20,056.14	19,502.94	19,509.39	20,000	20,400	21,400	20,800	19,400	19,400	19,800	20,000	20,000	19,800	19,400	19,600	20,000	18,936	19,836	19,296	240,648.9	235,468
Hours worked (retainers, projects, time and materials, media)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	engine sheets	223.1	217.8	211.2	208.9	222	223.5	225.7	213.5	215.7488	215.7488	215.7488	215.7488	215.7488	215.7488	215.7488	215.7488	215.7488	215.7488	215.7488	215.7488	215.7488	198.6739	198.6739	198.6739	2,608.695	2,537.7604
Delivery cost at standard (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	hours x standard cost rate of the work type	10,443.4321	10,196.0736	9,888.0423	9,780.6981	10,392.0936	10,462.1007	10,564.7778	9,995.3866	10,100.3389	10,100.3389	10,100.3389	10,100.3389	10,554.8542	10,554.8542	10,554.8542	10,554.8542	10,554.8542	10,554.8542	10,554.8542	10,554.8542	10,554.8542	9,722.0848	9,722.0848	9,722.0848	122,123.9605	124,159.9418
Media spend rebilled at cost (not revenue)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	TM_Media	36,651.48	36,033.18	37,761.67	41,489.22	37,868.66	40,561.35	35,029.41	35,093.95	40,000	44,000	54,000	48,000	34,000	34,000	38,000	40,000	40,000	38,000	34,000	36,000	40,000	39,600	48,600	43,200	486,488.92	465,400
Invoiced ex VAT	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	fees + media + recharges	88,316.63	39,636.5	41,537.84	93,638.14	41,655.53	44,617.49	86,532.35	38,603.34	44,000	96,400	59,400	52,800	85,400	37,400	41,800	92,000	44,000	41,800	85,400	39,600	44,000	88,488	53,460	47,520	727,137.82	700,868
VAT on invoices	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		88,316.63	39,636.5	41,537.84	93,638.14	41,655.53	44,617.49	86,532.35	38,603.34	44,000	96,400	59,400	52,800	85,400	37,400	41,800	92,000	44,000	41,800	85,400	39,600	44,000	88,488	53,460	47,520	727,137.82	700,868
Cash received	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	A: bank; F: opening + invoiced - closing at days to collect	48,155.13	96,637.13	31,469.7	42,108.42	85,084.95	47,633.69	46,522.02	93,369.04	31,062.21	44,000	96,400	59,400	52,800	85,400	37,400	41,800	92,000	44,000	41,800	85,400	39,600	44,000	88,488	53,460	721,842.29	706,148
RECEIVABLE (incl. VAT)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	opening + invoiced - received	87,665.97	30,665.34	40,733.48	92,263.2	48,833.78	45,817.58	85,827.91	31,062.21	44,000	96,400	59,400	52,800	85,400	37,400	41,800	92,000	44,000	41,800	85,400	39,600	44,000	88,488	53,460	47,520	52,800	47,520
Contract position (+ unbilled work / - deferred income)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	opening + revenue - invoiced revenue	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-29,952	-14,976	0	0	0
Receivable (EUR at the month-end rate)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		87,665.97	30,665.34	40,733.48	92,263.2	48,833.78	45,817.58	85,827.91	31,062.21	44,000	96,400	59,400	52,800	85,400	37,400	41,800	92,000	44,000	41,800	85,400	39,600	44,000	88,488	53,460	47,520	52,800	47,520
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		30.176	14.5714	21.9179	48.1339	25.1858	23.2257	45.2967	16.6882	23.7253	49.1146	27.1135	23.0842	39.4154	19.4241	23.1601	49.0093	22.5692	21.4407	45.4935	21.6518	23.7444	46.8952	26.22	22.8736	23.0842	22.8736
Retainer fees	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Retainers	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	12,376	168,000	151,760
Project fees	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	TM_Media	2,629.71	2,664.43	2,879.38	3,097.34	3,121.14	2,970.27	2,499.33	2,488.19	3,000	3,300	4,050	3,600	2,550	2,550	2,422.5	2,550	2,550	2,422.5	2,167.5	2,295	2,550	2,805	3,442.5	3,060	36,299.79	31,365
Production recharged (principal)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		16,629.71	16,664.43	16,879.38	17,097.34	17,121.14	16,970.27	16,499.33	16,488.19	17,000	17,300	18,050	17,600	16,550	16,550	14,798.5	14,926	14,926	14,798.5	14,543.5	14,671	14,926	15,181	15,818.5	15,436	204,299.79	183,125
Revenue (EUR at the monthly average rate)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		16,629.71	16,664.43	16,879.38	17,097.34	17,121.14	16,970.27	16,499.33	16,488.19	17,000	17,300	18,050	17,600	16,550	16,550	14,798.5	14,926	14,926	14,798.5	14,543.5	14,671	14,926	15,181	15,818.5	15,436	204,299.79	183,125
Production cost (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	revenue - production cost	16,629.71	16,664.43	16,879.38	17,097.34	17,121.14	16,970.27	16,499.33	16,488.19	17,000	17,300	18,050	17,600	16,550	16,550	14,798.5	14,926	14,926	14,798.5	14,543.5	14,671	14,926	15,181	15,818.5	15,436	204,299.79	183,125
Hours worked (retainers, projects, time and materials, media)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	engine sheets	201.4	195	203.4	191.2	193.9	187.7	197.4	199.2	192.805	192.805	192.805	192.805	192.805	192.805	169.8843	169.8843	169.8843	169.8843	169.8843	169.8843	169.8843	169.8843	169.8843	169.8843	2,340.42	2,084.4525
Delivery cost at standard (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	hours x standard cost rate of the work type	9,427.2136	9,128.5165	9,520.5564	8,951.1652	9,077.178	8,787.8152	9,240.5279	9,324.5365	9,026.0728	9,026.0728	9,026.0728	9,026.0728	9,432.2461	9,432.2461	8,314.3639	8,314.3639	8,314.3639	8,314.3639	8,314.3639	8,314.3639	8,314.3639	8,314.3639	8,314.3639	8,314.3639	109,561.8006	102,008.1308
Media spend rebilled at cost (not revenue)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	TM_Media	26,297.13	26,644.31	28,793.82	30,973.38	31,211.42	29,702.68	24,993.32	24,881.93	30,000	33,000	40,500	36,000	25,500	25,500	24,225	25,500	25,500	24,225	21,675	22,950	25,500	28,050	34,425	30,600	362,997.99	313,650
Invoiced ex VAT	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	fees + media + recharges	42,926.84	43,308.74	45,673.2	48,070.72	48,332.56	46,672.95	41,492.65	41,370.12	47,000	50,300	58,550	53,600	42,050	42,050	39,023.5	40,426	40,426	39,023.5	36,218.5	37,621	40,426	43,231	50,243.5	46,036	567,297.78	496,775
VAT on invoices	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		42,926.84	43,308.74	45,673.2	48,070.72	48,332.56	46,672.95	41,492.65	41,370.12	47,000	50,300	58,550	53,600	42,050	42,050	39,023.5	40,426	40,426	39,023.5	36,218.5	37,621	40,426	43,231	50,243.5	46,036	567,297.78	496,775
Cash received	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	51,045.39	48,141.74	38,125.32	40,889.24	50,424.69	52,689.94	43,750.92	48,310.61	37,007.38	47,000	50,300	58,550	53,600	42,050	42,050	39,023.5	40,426	40,426	39,023.5	36,218.5	37,621	40,426	43,231	50,243.5	566,235.23	504,339
RECEIVABLE (incl. VAT)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	opening + invoiced - received	44,418.9	39,585.9	47,133.78	54,315.26	52,223.13	46,206.14	43,947.87	37,007.38	47,000	50,300	58,550	53,600	42,050	42,050	39,023.5	40,426	40,426	39,023.5	36,218.5	37,621	40,426	43,231	50,243.5	46,036	53,600	46,036
Contract position (+ unbilled work / - deferred income)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		44,418.9	39,585.9	47,133.78	54,315.26	52,223.13	46,206.14	43,947.87	37,007.38	47,000	50,300	58,550	53,600	42,050	42,050	39,023.5	40,426	40,426	39,023.5	36,218.5	37,621	40,426	43,231	50,243.5	46,036	53,600	46,036
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		31.4566	27.9099	32.5877	36.1434	33.5224	29.4528	29.3634	26.0552	33.0072	33.0811	34.2622	30.0912	24.87	27.8501	28.9055	30.3446	30.7557	29.6887	28.557	30.4	32.2657	32.5093	34.221	30.0944	30.0912	30.0944
Retainer fees	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Projects	0	0	0	0	7,070	18,120	19,810	24,973.33	18,590.4795	7,436.1905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Time and materials	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	7,070	18,120	19,810	24,973.33	18,590.4795	7,436.1905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Revenue (EUR at the monthly average rate)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	7,070	18,120	19,810	24,973.33	18,590.4795	7,436.1905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Production cost (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	revenue - production cost	0	0	0	0	7,070	18,120	19,810	24,973.33	18,590.4795	7,436.1905	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Hours worked (retainers, projects, time and materials, media)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	engine sheets	0	0	0	0	70.7	181.2	198.1	271.6	191.7143	76.6857	0	0	0	0	0	0	0	0	0	0	0	0	0	0	990	0
Delivery cost at standard (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	hours x standard cost rate of the work type	0	0	0	0	3,741.1921	9,588.4584	10,482.7462	14,372.1044	10,144.837	4,057.9348	0	0	0	0	0	0	0	0	0	0	0	0	0	0	52,387.2729	0
Media spend rebilled at cost (not revenue)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	fees + media + recharges	0	0	0	0	28,800	0	0	38,400	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
VAT on invoices	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	28,800	0	0	38,400	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Cash received	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	-733.15	29,533.15	0	2,725.74	35,674.26	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
RECEIVABLE (incl. VAT)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	opening + invoiced - received	0	0	0	0	29,533.15	0	0	35,674.26	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	-21,730	-3,610	16,200	2,773.33	21,363.8095	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	29,533.15	0	0	35,674.26	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	93.5216	0	0	84.7264	0	39.0857	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Retainers	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Project fees	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Revenue (EUR at the monthly average rate)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Production cost (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	revenue - production cost	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Hours worked (retainers, projects, time and materials, media)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	engine sheets	173.7	166.3	168.2	171.9	166.6	163.6	160.1	174.5	159.6788	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,504.5787	0
Delivery cost at standard (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	hours x standard cost rate of the work type	8,081.1492	7,736.8746	7,825.2694	7,997.4068	7,750.8317	7,611.2609	7,448.4283	8,118.3681	7,428.8302	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	69,998.4192	0
Media spend rebilled at cost (not revenue)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	fees + media + recharges	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
VAT on invoices	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Cash received	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	A: bank; F: opening + invoiced - closing at days to collect	14,979.91	12,244.86	14,849.75	12,379.78	13,716.36	13,234.24	13,589.08	12,458.29	14,640.69	9,450	0	0	0	0	0	0	0	0	0	0	0	0	0	0	131,542.96	0
RECEIVABLE (incl. VAT)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	opening + invoiced - received	8,563.05	9,818.19	8,468.44	9,588.66	9,372.3	9,638.06	9,548.98	10,590.69	9,450	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		8,563.05	9,818.19	8,468.44	9,588.66	9,372.3	9,638.06	9,548.98	10,590.69	9,450	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		19.2827	22.1091	19.0697	21.5922	21.105	21.7035	21.5029	23.8487	21.28	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Projects	10,258.69	4,833.42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15,092.11	0
Time and materials	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	TM_Media	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	7,289.1481	83,155.2934	103,840.4875
Media management fees	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		10,258.69	4,833.42	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	7,289.1481	98,247.4034	103,840.4875
Revenue (EUR at the monthly average rate)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		10,258.69	4,833.42	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	7,289.1481	98,247.4034	103,840.4875
Production cost (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	revenue - production cost	10,258.69	4,833.42	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	7,289.1481	98,247.4034	103,840.4875
Hours worked (retainers, projects, time and materials, media)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	engine sheets	133.4	51.6	96.2	91.5	99.9	86.4	64.5	90.6	98.1818	101.9102	94.4534	75.8113	94.4534	90.725	98.1818	93.2106	93.2106	85.7537	69.5972	84.5109	98.1818	101.9102	94.4534	75.8113	1,084.4567	1,080
Delivery cost at standard (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	hours x standard cost rate of the work type	7,059.0527	2,730.4882	5,296.7432	5,037.9626	5,500.4641	4,757.1581	3,551.3507	4,988.4089	5,405.8615	5,611.1474	5,200.5757	4,174.1462	5,434.6016	5,220.0778	5,649.1253	5,363.0936	5,363.0936	4,934.0462	4,004.4433	4,862.5382	5,649.1253	5,863.649	5,434.6016	4,361.9828	59,313.3594	62,140.3783
Media spend rebilled at cost (not revenue)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	fees + media + recharges	0	22,200	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	98,346.4971	103,560.1356
VAT on invoices	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		0	22,200	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	98,346.4971	103,560.1356
Cash received	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	0	1,693.13	20,506.87	-317.13	9,866.63	8,030.82	9,454.63	7,698.71	5,867.45	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	89,614.2263	103,210.8448
RECEIVABLE (incl. VAT)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	opening + invoiced - received	0	20,506.87	0	9,025.5	7,550.7	8,818.56	7,638.28	5,867.45	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	8,732.2708	9,081.5616
Contract position (+ unbilled work / - deferred income)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	opening + revenue - invoiced revenue	17,366.58	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	7,289.1481	7,008.7963	7,289.1481
Receivable (EUR at the month-end rate)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		0	20,506.87	0	9,025.5	7,550.7	8,818.56	7,638.28	5,867.45	8,314.49	9,076.9657	9,421.6606	8,732.2708	7,008.7963	9,081.5616	8,723.0789	9,440.0443	8,962.0674	8,962.0674	8,245.102	6,691.677	8,125.6078	9,440.0443	9,798.527	9,081.5616	8,732.2708	9,081.5616
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		0	56.163	0	26.6312	40.2699	30.4654	26.829	22.7698	33.6764	35.4993	32.0461	29.2456	25.4027	33.3663	32.061	31.6	30.1322	29.869	28.7342	25.536	32.1326	35.4916	32.6568	29.2456	29.2456	29.2456
Retainer fees	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Retainers	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	8,892	108,000	106,704
Project fees	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	TM_Media	2,137.69	2,336.6	2,412.33	2,564.13	2,472.11	2,564.77	2,427.7	2,629.53	2,640	2,904	3,564	3,168	2,131.8	2,131.8	2,382.6	2,508	2,508	2,382.6	2,131.8	2,257.2	2,508	2,758.8	3,385.8	3,009.6	31,820.86	30,096
Production recharged (principal)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		11,137.69	11,336.6	11,412.33	11,564.13	11,472.11	11,564.77	11,427.7	11,629.53	11,640	11,904	12,564	12,168	11,023.8	11,023.8	11,274.6	11,400	11,400	11,274.6	11,023.8	11,149.2	11,400	11,650.8	12,277.8	11,901.6	139,820.86	136,800
Revenue (EUR at the monthly average rate)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		11,137.69	11,336.6	11,412.33	11,564.13	11,472.11	11,564.77	11,427.7	11,629.53	11,640	11,904	12,564	12,168	11,023.8	11,023.8	11,274.6	11,400	11,400	11,274.6	11,023.8	11,149.2	11,400	11,650.8	12,277.8	11,901.6	139,820.86	136,800
Production cost (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	revenue - production cost	11,137.69	11,336.6	11,412.33	11,564.13	11,472.11	11,564.77	11,427.7	11,629.53	11,640	11,904	12,564	12,168	11,023.8	11,023.8	11,274.6	11,400	11,400	11,274.6	11,023.8	11,149.2	11,400	11,650.8	12,277.8	11,901.6	139,820.86	136,800
Hours worked (retainers, projects, time and materials, media)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	engine sheets	134	125.3	130.5	134.8	129.5	132.4	126.2	132.7	128.9725	128.9725	128.9725	128.9725	124.0239	124.0239	124.0239	124.0239	124.0239	124.0239	124.0239	124.0239	124.0239	124.0239	124.0239	124.0239	1,561.29	1,488.2865
Delivery cost at standard (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	hours x standard cost rate of the work type	6,274.6626	5,868.6214	6,111.3127	6,311.9998	6,064.6413	6,199.9884	5,910.6256	6,213.9898	6,040.0221	6,040.0221	6,040.0221	6,040.0221	6,070.4706	6,070.4706	6,070.4706	6,070.4706	6,070.4706	6,070.4706	6,070.4706	6,070.4706	6,070.4706	6,070.4706	6,070.4706	6,070.4706	73,115.9299	72,845.6475
Media spend rebilled at cost (not revenue)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	TM_Media	17,814.1	19,471.68	20,102.78	21,367.75	20,600.91	21,373.1	20,230.83	21,912.78	22,000	24,200	29,700	26,400	17,765	17,765	19,855	20,900	20,900	19,855	17,765	18,810	20,900	22,990	28,215	25,080	265,173.93	250,800
Invoiced ex VAT	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	fees + media + recharges	28,951.79	30,808.28	31,515.11	32,931.88	32,073.02	32,937.87	31,658.53	33,542.31	33,640	36,104	42,264	38,568	28,788.8	28,788.8	31,129.6	32,300	32,300	31,129.6	28,788.8	29,959.2	32,300	34,640.8	40,492.8	36,981.6	404,994.79	387,600
VAT on invoices	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Client_Register VAT rate	6,948.4296	7,393.9872	7,563.6264	7,903.6512	7,697.5248	7,905.0888	7,598.0472	8,050.1544	8,073.6	8,664.96	10,143.36	9,256.32	6,909.312	6,909.312	7,471.104	7,752	7,752	7,471.104	6,909.312	7,190.208	7,752	8,313.792	9,718.272	8,875.584	97,198.7496	93,024
INVOICED INCL. VAT	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		35,900.2196	38,202.2672	39,078.7364	40,835.5312	39,770.5448	40,842.9588	39,256.5772	41,592.4644	41,713.6	44,768.96	52,407.36	47,824.32	35,698.112	35,698.112	38,600.704	40,052	40,052	38,600.704	35,698.112	37,149.408	40,052	42,954.592	50,211.072	45,857.184	502,193.5396	480,624
Cash received	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	A: bank; F: opening + invoiced - closing at days to collect	41,393.15	34,546.01	45,393.93	39,731.77	36,699.01	41,232.45	41,933.12	37,332.35	41,973.8529	43,343.1253	48,842.7733	49,963.072	41,357.0091	35,698.112	37,246.1611	39,374.7285	40,052	39,277.9755	37,052.6549	36,472.1365	38,697.4571	41,600.0491	46,824.7147	47,888.9984	502,384.6136	481,541.9968
RECEIVABLE (incl. VAT)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	opening + invoiced - received	17,016.1596	20,672.4168	14,357.2232	15,460.9844	18,532.5192	18,143.028	15,466.4852	19,726.5996	19,466.3467	20,892.1813	24,456.768	22,318.016	16,659.1189	16,659.1189	18,013.6619	18,690.9333	18,690.9333	18,013.6619	16,659.1189	17,336.3904	18,690.9333	20,045.4763	23,431.8336	21,400.0192	22,318.016	21,400.0192
Contract position (+ unbilled work / - deferred income)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		17,016.1596	20,672.4168	14,357.2232	15,460.9844	18,532.5192	18,143.028	15,466.4852	19,726.5996	19,466.3467	20,892.1813	24,456.768	22,318.016	16,659.1189	16,659.1189	18,013.6619	18,690.9333	18,690.9333	18,013.6619	16,659.1189	17,336.3904	18,690.9333	20,045.4763	23,431.8336	21,400.0192	22,318.016	21,400.0192
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		14.4091	16.9614	11.5689	11.9377	14.1218	13.6242	11.7673	14.7838	14.4851	14.877	16.0592	14.0372	11.1772	12.7437	14.9354	14.9069	14.3601	13.8398	13.2864	14.1867	15.0985	15.2148	16.0413	14.0386	14.0372	14.0386
Retainer fees	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	TM_Media	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	10,459.9686	10,857.1826	10,062.7546	8,076.6846	10,465.2648	10,052.1622	10,878.3674	10,327.5639	10,327.5639	9,501.3588	7,711.2477	9,363.658	10,878.3674	11,291.4699	10,465.2648	8,399.752	114,069.5805	119,662.0409
Media management fees	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	10,459.9686	10,857.1826	10,062.7546	8,076.6846	10,465.2648	10,052.1622	10,878.3674	10,327.5639	10,327.5639	9,501.3588	7,711.2477	9,363.658	10,878.3674	11,291.4699	10,465.2648	8,399.752	114,069.5805	119,662.0409
Revenue (EUR at the monthly average rate)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	10,459.9686	10,857.1826	10,062.7546	8,076.6846	10,465.2648	10,052.1622	10,878.3674	10,327.5639	10,327.5639	9,501.3588	7,711.2477	9,363.658	10,878.3674	11,291.4699	10,465.2648	8,399.752	114,069.5805	119,662.0409
Production cost (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	revenue - production cost	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	10,459.9686	10,857.1826	10,062.7546	8,076.6846	10,465.2648	10,052.1622	10,878.3674	10,327.5639	10,327.5639	9,501.3588	7,711.2477	9,363.658	10,878.3674	11,291.4699	10,465.2648	8,399.752	114,069.5805	119,662.0409
Hours worked (retainers, projects, time and materials, media)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	engine sheets	115.9	109.7	133.7	145	113.4	121.3	95.8	99	130.9091	135.8803	125.9379	101.0817	125.9379	120.9666	130.9091	124.2808	124.2808	114.3383	92.7963	112.6812	130.9091	135.8803	125.9379	101.0817	1,427.609	1,440
Delivery cost at standard (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	hours x standard cost rate of the work type	6,381.4193	6,040.0492	7,361.482	7,983.6566	6,243.7701	6,678.7417	5,274.7193	5,450.9104	7,207.8154	7,481.5299	6,934.1009	5,565.5283	7,246.1354	6,960.1037	7,532.1671	7,150.7915	7,150.7915	6,578.7282	5,339.2577	6,483.3843	7,532.1671	7,818.1987	7,246.1354	5,815.9771	78,603.7231	82,853.8378
Media spend rebilled at cost (not revenue)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	fees + media + recharges	7,861.33	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	10,459.9686	10,857.1826	10,062.7546	8,076.6846	10,465.2648	10,052.1622	10,878.3674	10,327.5639	10,327.5639	9,501.3588	7,711.2477	9,363.658	10,878.3674	11,291.4699	10,465.2648	113,854.2258	119,338.9735
VAT on invoices	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Client_Register VAT rate	1,886.7192	2,319.3984	2,112.0576	2,433.3672	2,725.1232	2,232.816	2,384.6496	1,843.872	1,855.8336	2,510.3925	2,605.7238	2,415.0611	1,938.4043	2,511.6636	2,412.5189	2,610.8082	2,478.6153	2,478.6153	2,280.3261	1,850.6995	2,247.2779	2,610.8082	2,709.9528	2,511.6636	27,325.0142	28,641.3537
INVOICED INCL. VAT	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		9,748.0492	11,983.5584	10,912.2976	12,572.3972	14,079.8032	11,536.216	12,320.6896	9,526.672	9,588.4736	12,970.3611	13,462.9064	12,477.8157	10,015.0889	12,976.9284	12,464.6812	13,489.1755	12,806.1793	12,806.1793	11,781.685	9,561.9472	11,610.9359	13,489.1755	14,001.4227	12,976.9284	141,179.24	147,980.3272
Cash received	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	A: bank; F: opening + invoiced - closing at days to collect	10,312.08	10,085.46	13,003.59	10,502.26	14,112.37	13,182.28	11,892.02	10,172.21	10,169.6311	10,715.7694	13,134.5429	13,134.5429	11,656.9068	11,002.3687	12,806.1793	12,806.1793	13,261.5101	12,806.1793	12,464.6812	11,041.7724	10,244.9434	12,237.0158	13,659.9246	13,659.9246	140,416.7562	147,647.5854
RECEIVABLE (incl. VAT)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	opening + invoiced - received	6,992.0292	8,890.1276	6,798.8352	8,868.9724	8,836.4056	7,190.3416	7,619.0112	6,973.4732	6,392.3157	8,646.9074	8,975.271	8,318.5438	6,676.726	8,651.2856	8,309.7875	8,992.7837	8,537.4529	8,537.4529	7,854.4566	6,374.6315	7,740.6239	8,992.7837	9,334.2818	8,651.2856	8,318.5438	8,651.2856
Contract position (+ unbilled work / - deferred income)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	opening + revenue - invoiced revenue	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	10,459.9686	10,857.1826	10,062.7546	8,076.6846	10,465.2648	10,052.1622	10,878.3674	10,327.5639	10,327.5639	9,501.3588	7,711.2477	9,363.658	10,878.3674	11,291.4699	10,465.2648	8,399.752	8,076.6846	8,399.752
Receivable (EUR at the month-end rate)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		6,992.0292	8,890.1276	6,798.8352	8,868.9724	8,836.4056	7,190.3416	7,619.0112	6,973.4732	6,392.3157	8,646.9074	8,975.271	8,318.5438	6,676.726	8,651.2856	8,309.7875	8,992.7837	8,537.4529	8,537.4529	7,854.4566	6,374.6315	7,740.6239	8,992.7837	9,334.2818	8,651.2856	8,318.5438	8,651.2856
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		21.8052	24.8725	18.9945	22.8049	21.4532	17.1717	18.3161	19.0507	18.5451	24.578	22.7236	19.497	16.9352	22.2442	21.374	21.0667	20.0881	19.9127	19.1562	17.024	21.4218	23.6611	21.7712	19.497	19.497	19.497
Retainer fees	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	0	81,000
Project fees	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	5,925.9259	14,814.8148	19,259.2593	19,259.2593	14,814.8148	5,925.9259	0	0	0	0	0	0	0	0	20,740.7407	59,259.2593
Time and materials	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (USD)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	5,925.9259	14,814.8148	26,009.2593	26,009.2593	21,564.8148	12,675.9259	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	20,740.7407	140,259.2593
Revenue (EUR at the monthly average rate)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	5,110.319	12,775.7975	22,429.5095	22,429.5095	18,596.7703	10,931.2918	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	17,886.1165	120,954.8631
Production cost (EUR)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	5,110.319	12,775.7975	22,429.5095	22,429.5095	18,596.7703	10,931.2918	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	5,820.9727	17,886.1165	120,954.8631
Hours worked (retainers, projects, time and materials, media)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	55.5556	138.8889	244.9056	244.9056	203.2389	119.9056	64.35	64.35	64.35	64.35	64.35	64.35	64.35	64.35	194.4444	1,327.7556
Delivery cost at standard (EUR)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	2,939.8021	7,349.5052	13,620.5691	13,620.5691	11,316.4993	6,708.3595	3,636.2663	3,636.2663	3,636.2663	3,636.2663	3,636.2663	3,636.2663	3,636.2663	3,636.2663	10,289.3072	74,356.1277
Media spend rebilled at cost (not revenue)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	24,000	0	6,750	38,750	6,750	30,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	24,000	137,000
VAT on invoices	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	24,000	0	6,750	38,750	6,750	30,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	6,750	24,000	137,000
Cash received	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	12,000	12,000	3,375	22,750	22,750	18,750	18,750	6,750	6,750	6,750	6,750	6,750	6,750	12,000	138,875
RECEIVABLE (incl. VAT)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	24,000	12,000	6,750	42,125	26,125	34,125	22,125	10,125	10,125	10,125	10,125	10,125	10,125	10,125	12,000	10,125
Contract position (+ unbilled work / - deferred income)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	-18,074.0741	-3,259.2593	16,000	3,259.2593	18,074.0741	0	0	0	0	0	0	0	0	0	-3,259.2593	0
Receivable (EUR at the month-end rate)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	20,696.792	10,348.396	5,820.9727	36,327.1818	22,529.3205	29,428.2511	19,079.8551	8,731.4591	8,731.4591	8,731.4591	8,731.4591	8,731.4591	8,731.4591	8,731.4591	10,348.396	8,731.4591
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	91.2	45.6	20.0195	84.4352	45.6	40.8157	45.6	20.8678	45.6	45.6	45.6	45.6	45.6	45.6	45.6	45.6
Retainer fees	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,000	7,000	7,000	7,000	7,000	7,000	7,000	0	49,000
Project fees	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	5,317.7843	13,714.2857	18,752.1866	20,431.4869	18,752.1866	13,714.2857	5,317.7843	0	0	0	0	0	96,000
Time and materials	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	5,317.7843	13,714.2857	18,752.1866	20,431.4869	25,752.1866	20,714.2857	12,317.7843	7,000	7,000	7,000	7,000	0	145,000
Revenue (EUR at the monthly average rate)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	6,208.8832	16,012.3829	21,894.4828	23,855.1827	30,067.4699	24,185.37	14,381.8703	8,172.9871	8,172.9871	8,172.9871	8,172.9871	0	169,297.5901
Production cost (EUR)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	0	6,208.8832	16,012.3829	21,894.4828	23,855.1827	30,067.4699	24,185.37	14,381.8703	8,172.9871	8,172.9871	8,172.9871	8,172.9871	0	169,297.5901
Hours worked (retainers, projects, time and materials, media)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	0	50.9621	131.4286	179.7085	195.8017	260.5585	212.2786	131.8121	80.85	80.85	80.85	80.85	0	1,485.95
Delivery cost at standard (EUR)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	2,818.0857	7,267.6947	9,937.4601	10,827.3819	13,868.1576	11,198.3922	6,748.7832	3,930.6975	3,930.6975	3,930.6975	3,930.6975	0	78,388.7454
Media spend rebilled at cost (not revenue)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	0	28,800	0	0	38,400	7,000	7,000	35,800	7,000	7,000	7,000	7,000	0	145,000
VAT on invoices	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	28,800	0	0	38,400	7,000	7,000	35,800	7,000	7,000	7,000	7,000	0	145,000
Cash received	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,400	14,400	0	19,200	22,700	7,000	21,400	21,400	7,000	7,000	0	134,500
RECEIVABLE (incl. VAT)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	0	28,800	14,400	0	38,400	26,200	10,500	39,300	24,900	10,500	10,500	10,500	0	10,500
Contract position (+ unbilled work / - deferred income)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	-23,482.2157	-9,767.93	8,984.2566	-8,984.2566	9,767.93	23,482.2157	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	33,626.0041	16,813.0021	0	44,834.6721	30,590.3232	12,259.4807	45,885.4848	29,072.4827	12,259.4807	12,259.4807	12,259.4807	0	12,259.4807
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	91.2	45.6	0	91.2	52.6308	18.2748	71.9711	45.6	19.2289	45.6	45.6	0	45.6
Retainer fees	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,400	4,400	4,400	4,400	4,400	4,400	4,400	4,400	4,400	0	39,600
Project fees	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,851.8519	7,129.6296	9,268.5185	9,268.5185	7,129.6296	2,851.8519	0	0	0	0	0	38,500
Time and materials	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,851.8519	11,529.6296	13,668.5185	13,668.5185	11,529.6296	7,251.8519	4,400	4,400	4,400	4,400	0	78,100
Revenue (EUR at the monthly average rate)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,851.8519	11,529.6296	13,668.5185	13,668.5185	11,529.6296	7,251.8519	4,400	4,400	4,400	4,400	0	78,100
Production cost (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,851.8519	11,529.6296	13,668.5185	13,668.5185	11,529.6296	7,251.8519	4,400	4,400	4,400	4,400	0	78,100
Hours worked (retainers, projects, time and materials, media)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	28.5185	119.6963	141.0852	141.0852	119.6963	76.9185	48.4	48.4	48.4	48.4	0	820.6
Delivery cost at standard (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,577.0078	6,295.5902	7,478.346	7,478.346	6,295.5902	3,930.0784	2,353.0706	2,353.0706	2,353.0706	2,353.0706	0	42,467.2412
Media spend rebilled at cost (not revenue)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,550	4,400	4,400	19,800	4,400	15,950	4,400	4,400	4,400	4,400	0	78,100
VAT on invoices	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,550	4,400	4,400	19,800	4,400	15,950	4,400	4,400	4,400	4,400	0	78,100
Cash received	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,550	4,400	4,400	19,800	4,400	15,950	4,400	4,400	4,400	0	73,700
RECEIVABLE (incl. VAT)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,550	4,400	4,400	19,800	4,400	15,950	4,400	4,400	4,400	4,400	0	4,400
Contract position (+ unbilled work / - deferred income)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-8,698.1481	-1,568.5185	7,700	1,568.5185	8,698.1481	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,550	4,400	4,400	19,800	4,400	15,950	4,400	4,400	4,400	4,400	0	4,400
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	91.2	25.1586	19.7189	63.1385	14.0308	36.2301	16.2133	16.2133	30.4	30.4	0	30.4
Retainer fees	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	21,216	50,592	60,384	71,808	71,808	60,384	71,808	71,808	60,384	71,808	71,808	60,384	0	744,192
Time and materials	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	21,216	50,592	60,384	71,808	71,808	60,384	71,808	71,808	60,384	71,808	71,808	60,384	0	744,192
Revenue (EUR at the monthly average rate)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	21,216	50,592	60,384	71,808	71,808	60,384	71,808	71,808	60,384	71,808	71,808	60,384	0	744,192
Production cost (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	21,216	50,592	60,384	71,808	71,808	60,384	71,808	71,808	60,384	71,808	71,808	60,384	0	744,192
Hours worked (retainers, projects, time and materials, media)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	203.32	484.84	578.68	688.16	688.16	578.68	688.16	688.16	578.68	688.16	688.16	578.68	0	7,131.84
Delivery cost at standard (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	11,243.1237	26,810.5257	31,999.6597	38,053.6494	38,053.6494	31,999.6597	38,053.6494	38,053.6494	31,999.6597	38,053.6494	38,053.6494	31,999.6597	0	394,374.1845
Media spend rebilled at cost (not revenue)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	61,200	0	81,600	61,200	61,200	81,600	61,200	61,200	81,600	61,200	61,200	81,600	0	754,800
VAT on invoices	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	61,200	0	81,600	61,200	61,200	81,600	61,200	61,200	81,600	61,200	61,200	81,600	0	754,800
Cash received	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	61,200	0	81,600	61,200	61,200	81,600	61,200	61,200	81,600	61,200	61,200	0	673,200
RECEIVABLE (incl. VAT)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	61,200	0	81,600	61,200	61,200	81,600	61,200	61,200	81,600	61,200	61,200	81,600	0	81,600
Contract position (+ unbilled work / - deferred income)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	-39,984	10,608	-10,608	0	10,608	-10,608	0	10,608	-10,608	0	10,608	-10,608	0	-10,608
Receivable (EUR at the month-end rate)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	61,200	0	81,600	61,200	61,200	81,600	61,200	61,200	81,600	61,200	61,200	81,600	0	81,600
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	91.2	0	52.1143	39.0857	27.36	36.48	27.36	27.36	36.48	27.36	27.36	36.48	0	36.48
EUR clients: retainer fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	57,500	57,500	57,500	55,246	55,246	53,622	58,022	58,022	58,022	58,022	58,022	58,022	56,998	56,998	56,998	811,500	683,240
EUR clients: project fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	10,258.69	4,833.42	0	0	7,070	18,120	19,810	24,973.33	18,590.4795	15,092.4405	16,843.75	16,843.75	28,872.25	50,592	63,235.8519	78,937.6296	81,076.5185	69,652.5185	78,937.6296	74,659.8519	60,384	71,808	71,808	60,384	152,435.86	790,348.25
EUR clients: time and materials	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	9,664.16	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	13,610.68	16,047.13	19,536.9343	20,278.8432	18,795.0254	15,085.4809	19,546.8264	18,775.2412	20,318.4117	19,289.6313	19,289.6313	17,746.4608	14,402.9247	17,489.2657	20,318.4117	21,089.9969	19,546.8264	15,688.9002	197,224.8738	223,502.5284
EUR clients: media management fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	8,432.55	8,604.35	9,067.88	9,810.39	9,380.12	9,591.18	8,429.97	8,627.11	9,640	10,604	13,014	11,568	8,081.8	8,081.8	8,605.1	9,058	9,058	8,605.1	7,699.3	8,152.2	9,058	9,523.8	11,688.3	10,389.6	116,769.55	108,001
EUR clients: production recharged	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EUR clients: media spend rebilled	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	80,762.71	82,149.17	86,658.27	93,830.35	89,680.99	91,637.13	80,253.56	81,888.66	92,000	101,200	124,200	110,400	77,265	77,265	82,080	86,400	86,400	82,080	73,440	77,760	86,400	90,640	111,240	98,880	1,114,660.84	1,029,850
EUR clients: vat on invoices	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	9,929.4336	11,175.3525	12,749.0838	11,671.3811	8,847.7163	9,420.9756	9,883.6229	10,362.8082	10,230.6153	9,949.7193	9,189.6381	9,040.9075	9,999.2779	10,924.6002	12,428.2248	11,387.2476	124,523.7638	121,665.3537
EUR clients: invoiced incl. vat	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	208,891.7388	187,331.0656	169,202.074	235,825.1584	213,030.268	184,968.2948	219,876.6168	207,420.4764	182,616.5636	275,516.2868	211,741.927	213,534.4065	272,425.9972	153,560.602	250,115.9641	277,361.2198	228,200.2467	258,946.4507	259,297.3989	224,128.0322	246,568.5437	279,556.8118	259,668.5217	263,825.674	2,509,954.8767	2,973,655.4628
EUR clients: cash received	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	186,307.37	218,587.83	184,863.9	161,420.07	226,869.25	228,033.51	182,256.77	230,382.82	195,566.814	181,323.3848	279,754.2819	208,969.2755	206,246.1866	273,413.277	154,937.902	251,231.4868	277,133.5544	227,426.2221	257,056.9035	259,331.5109	226,359.0775	248,742.6726	283,597.6836	257,004.95	2,484,335.2761	2,922,481.427
EUR clients: receivables	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	180,833.5988	149,576.8344	133,915.0084	208,320.0968	194,481.1148	151,415.8996	189,035.7464	166,073.4028	153,123.1524	247,316.0544	179,303.6995	183,868.8306	250,048.6412	130,195.9661	225,374.0282	251,503.7613	202,570.4536	234,090.6821	236,331.1776	201,127.6989	221,337.165	252,151.3043	228,222.1424	235,042.8664	183,868.8306	235,042.8664
EUR clients: contract position (net)	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	-4,969.26	-7,199.76	18,847.4	-12,253.49	-19,127.92	14,600.39	-2,189.32	2,820.46	40,900.7438	-18,764.9068	12,595.0254	22,129.2309	-52,437.1736	13,383.2412	1,012.2635	-14,278.8872	21,597.6313	8,706.9793	-8,898.9271	12,097.2657	9,710.4117	-8,862.0031	15,178.8264	5,080.9002	22,129.2309	5,080.9002
EUR clients: written off	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EUR clients: contract assets (sum of positive positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		27,030.74	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	29,810.68	18,820.46	40,900.7438	20,278.8432	28,595.0254	22,129.2309	19,546.8264	29,383.2412	20,318.4117	19,289.6313	37,597.6313	19,314.9793	23,101.0729	28,097.2657	20,318.4117	21,089.9969	30,154.8264	15,688.9002	22,129.2309	15,688.9002
EUR clients: contract liabilities (sum of negative positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		32,000	16,000	0	32,000	37,730	3,610	32,000	16,000	0	39,043.75	16,000	0	71,984	16,000	19,306.1481	33,568.5185	16,000	10,608	32,000	16,000	10,608	29,952	14,976	10,608	0	10,608
GBP clients: retainer fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	75,000	75,000	75,000	75,000	75,000	86,500	86,500	86,500	86,500	86,500	86,500	86,500	88,180	88,180	91,780	90,820	90,820	96,486	95,334	95,334	95,334	95,334	95,334	95,334	980,500	1,118,270
GBP clients: project fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	47,936.1	32,757.37	30,395.81	26,746.92	29,290	36,908	47,855.38	50,559.83	47,587.0678	31,608.5417	13,051.1806	0	0	5,317.7843	13,714.2857	18,752.1866	20,431.4869	18,752.1866	13,714.2857	5,317.7843	0	0	0	0	394,696.2	96,000
GBP clients: time and materials	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	19,322.2055	25,542.1281	23,673.1919	19,000.8514	24,620.1196	23,648.2728	25,591.9664	24,296.1707	24,296.1707	22,352.477	18,141.1408	22,028.5281	25,591.9664	26,563.8133	24,620.1196	19,760.8855	227,012.497	281,511.6309
GBP clients: media management fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	5,500	6,050	7,425	6,600	4,675	4,675	5,225	4,950	4,950	4,702.5	4,207.5	4,455	4,950	5,445	6,682.5	5,940	68,414.74	60,857.5
GBP clients: production recharged	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	4,147.7625	5,513.3484	1,991.7918	1,532.1476	612.859	0	0	0	0	0	0	0	0	0	0	0	0	0	13,797.9093	0
GBP clients: media spend rebilled	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	55,000	60,500	74,250	66,000	46,750	46,750	52,250	49,500	49,500	47,025	42,075	44,550	49,500	54,450	66,825	59,400	684,147.39	608,575
GBP clients: vat on invoices	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
GBP clients: invoiced incl. vat	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	262,117.77	133,065.65	208,794.61	227,866.52	136,740.58	216,806.35	216,663.5925	156,692.0784	253,512.3918	203,904.3531	221,629.9872	167,773.1919	188,605.8514	178,025.1196	157,903.2728	198,941.9664	193,926.1707	158,469.6707	192,048.977	177,240.1408	157,772.5281	208,900.9664	181,365.3133	171,254.1196	2,405,567.0749	2,164,454.0968
GBP clients: cash received	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	149,939.48	263,577.32	138,292.92	196,524.27	230,248.72	147,905.64	224,546.34	206,133.27	156,867.0309	244,866.4152	209,720.217	217,013.1098	172,756.9466	190,160.238	161,418.964	172,084.8252	198,178.8616	175,234.9072	174,169.6707	192,812.0818	164,493.5346	170,646.3184	207,501.9409	180,983.7609	2,385,634.7329	2,160,442.0499
GBP clients: receivables	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	281,297.12	150,785.45	221,287.14	252,629.39	159,121.25	228,021.96	220,139.2125	170,698.0209	267,343.3818	226,381.3197	238,291.0899	189,051.172	204,900.0769	192,764.9584	189,249.2672	216,106.4085	211,853.7175	195,088.481	212,967.7873	197,395.8463	190,674.8398	228,929.4878	202,792.8601	193,063.2189	189,051.172	193,063.2189
GBP clients: contract position (net)	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	-5,707.97	39,614.9	13,480.49	-29,486.46	16,262.79	-5,233.96	-16,944.64	54,573.81	16,962.4833	24,790.9476	8,673.1919	19,000.8514	-5,379.8804	-14,833.943	15,824.0364	5,200.4272	1,271.9141	32,120.407	13,543.3565	7,988.5281	25,591.9664	-1,516.1867	10,580.1196	19,760.8855	19,000.8514	19,760.8855
GBP clients: written off	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
GBP clients: contract assets (sum of positive positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		25,501.63	54,614.9	49,150.49	14,873.54	31,262.79	17,728.04	32,540.98	69,573.81	21,365.1685	54,790.9476	23,673.1919	19,000.8514	24,620.1196	23,648.2728	25,591.9664	33,280.4272	24,296.1707	32,120.407	41,623.3565	22,028.5281	25,591.9664	26,563.8133	24,620.1196	19,760.8855	19,000.8514	19,760.8855
GBP clients: contract liabilities (sum of negative positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		31,209.6	15,000	35,670	44,360	15,000	22,962	49,485.62	15,000	4,402.6852	30,000	15,000	0	30,000	38,482.2157	9,767.93	28,080	23,024.2566	0	28,080	14,040	0	28,080	14,040	0	0	0
USD clients: retainer fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	11,000	11,000	11,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	43,750	43,750	43,750	42,086	42,086	42,086	41,382	41,382	41,382	41,382	41,382	41,382	366,000	505,800
USD clients: project fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	44,622.1595	50,903.7905	47,175.9259	33,564.8148	19,259.2593	19,259.2593	14,814.8148	5,925.9259	0	0	0	0	0	0	0	0	367,240.7407	59,259.2593
USD clients: time and materials	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
USD clients: media management fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	8,100	8,910	10,935	9,720	6,885	6,885	7,695	8,100	8,100	7,695	6,196.5	6,561	7,290	8,019	9,841.5	8,748	97,760.19	92,016
USD clients: production recharged	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	6,087.9	13,393.38	13,393.38	6,087.9	0	0	0	0	0	0	0	0	0	0	0	0	38,962.56	0
USD clients: media spend rebilled	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	90,000	99,000	121,500	108,000	76,500	76,500	85,500	90,000	90,000	85,500	68,850	72,900	81,000	89,100	109,350	97,200	1,086,224.31	1,022,400
USD clients: vat on invoices	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
USD clients: invoiced incl. vat	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	84,753.52	149,440.32	101,488.64	132,589.36	155,717.09	198,401.51	135,039.73	135,389.33	188,737.9	226,253.38	254,828.38	196,807.9	127,135	159,135	136,945	164,186	140,186	135,281	116,428.5	120,843	129,672	138,501	160,573.5	147,330	1,959,447.06	1,676,216
USD clients: cash received	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	108,093.63	145,160.85	115,678.7	125,434.07	122,846.47	97,916.23	200,010.4	151,106.31	141,355.76	162,208.28	210,840.64	228,278.38	233,175.64	179,138.95	143,135	143,135	148,113	152,186	140,186	135,281	116,428.5	120,843	129,672	138,501	1,808,929.72	1,779,795.09
USD clients: receivables	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	230,332.14	234,611.61	220,421.55	227,576.84	260,447.46	360,932.74	295,962.07	280,245.09	327,627.23	391,672.33	427,410.07	395,939.59	289,898.95	269,895	263,705	284,756	276,829	259,924	236,166.5	221,728.5	234,972	252,630	283,531.5	292,360.5	395,939.59	292,360.5
USD clients: contract position (net)	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	-56,170.43	-35,252.61	-6,646.96	13,939.96	-17,129.02	13,393.24	43,974.05	41,046.2095	24,000	-824.0741	-3,259.2593	16,000	3,259.2593	18,074.0741	0	0	0	0	0	0	0	0	0	-3,259.2593	0
USD clients: written off	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	0	0	0	0	0	0	8,250	0	0	0	0	0	0	0	0	0	0	0	0	0	8,250	0
USD clients: contract assets (sum of positive positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	13,939.96	0	13,393.24	43,974.05	58,296.2095	24,000	17,250	0	16,000	3,259.2593	18,074.0741	0	0	0	0	0	0	0	0	0	0	0
USD clients: contract liabilities (sum of negative positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		0	56,170.43	35,252.61	6,646.96	0	17,129.02	0	0	17,250	0	18,074.0741	3,259.2593	0	0	0	0	0	0	0	0	0	0	0	0	3,259.2593	0
Revenue	TOTALS, ALL CLIENTS (EUR)	sum of clients	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	361,734.5251	382,711.3088	389,253.9736	375,089.0754	352,981.0253	306,367.6971	309,181.7094	335,204.0585	362,074.4695	375,776.3889	374,765.6587	363,092.7081	353,507.0062	348,107.0708	336,724.456	350,703.1521	352,071.614	328,007.5757	3,981,675.9212	4,189,215.8677
Production cost	TOTALS, ALL CLIENTS (EUR)	sum of clients	0	0	0	0	0	0	4,200	5,600	6,709.7222	11,868.0556	10,934.7222	4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	44,000	0
Net revenue	TOTALS, ALL CLIENTS (EUR)	sum of clients	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	357,534.5251	377,111.3088	382,544.2514	363,221.0198	342,046.3031	301,680.1971	309,181.7094	335,204.0585	362,074.4695	375,776.3889	374,765.6587	363,092.7081	353,507.0062	348,107.0708	336,724.456	350,703.1521	352,071.614	328,007.5757	3,937,675.9212	4,189,215.8677
Hours worked	TOTALS, ALL CLIENTS (EUR)	sum of clients	3,133.3	2,928.7	3,104.4	3,337.6	3,567.8	3,958.1	3,969.1	4,109.4	4,015.9217	3,710.023	3,436.058	3,114.4555	3,246.2705	3,481.8909	3,701.9768	3,797.6449	3,779.5715	3,672.2803	3,593.8871	3,551.8397	3,437.3094	3,550.0137	3,509.4154	3,298.4394	42,384.8581	42,620.5396
Delivery cost at standard	TOTALS, ALL CLIENTS (EUR)	sum of clients	158,774.9485	148,020.7419	157,477.9809	170,137.7126	182,237.423	202,000.1542	202,305.1664	209,903.2598	205,322.8155	190,340.3398	175,756.0739	158,520.4852	173,505.9563	186,489.753	198,631.3065	203,637.5672	202,638.1517	196,220.9178	191,729.6293	189,586.359	183,419.8054	189,808.9883	187,473.0631	175,579.2603	2,160,797.1018	2,278,720.758
Receivables	TOTALS, ALL CLIENTS (EUR)	sum of clients	698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	732,784.4552	703,983.3115	607,049.1513	747,799.8473	849,397.0295	826,109.1839	746,044.2019	739,282.8338	588,010.8306	673,746.031	749,387.019	688,652.4208	686,019.7661	688,647.9277	622,812.2791	646,595.251	737,302.0186	709,504.9384	712,579.4615	746,044.2019	712,579.4615
Largest client share of net revenue	TOTALS, ALL CLIENTS (EUR)		26.41%	24.78%	20.68%	15.85%	15.03%	13.63%	16.36%	19.74%	20.49%	20.27%	17.35%	16.25%	16.49%	15.21%	16.68%	19.11%	19.16%	16.63%	20.31%	20.63%	17.93%	20.48%	20.4%	18.41%
HAL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	83,621.265	71,851.13	66,099.865	53,736.15	53,382.55	54,156.05	62,491.325	76,851.97	78,264.4215	74,098.5137	61,600.7904	52,574.6569	54,677.6432	54,677.6432	59,087.7631	59,087.7631	59,087.7631	59,087.7631	59,087.7631	59,087.7631	59,087.7631	59,087.7631	59,087.7631	59,087.7631	788,728.6875	700,232.9178
THV: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	26,473.115	26,708.98	25,868.07	26,442.35	25,888.58	26,842.295	26,708.98	27,273.005	25,977.6703	25,977.6703	25,977.6703	25,977.6703	27,016.7771	27,016.7771	27,016.7771	24,964.0594	24,964.0594	24,964.0594	24,964.0594	24,964.0594	24,964.0594	24,964.0594	24,964.0594	24,964.0594	316,116.0563	305,726.8661
PEL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	15,710.66	14,992.81	15,208.165	15,019.8148	15,019.8148	15,019.8148	15,019.8148	15,620.6074	15,620.6074	15,620.6074	15,620.6074	15,620.6074	13,277.5163	13,277.5163	13,277.5163	13,277.5163	13,277.5163	13,277.5163	13,277.5163	105,990.8943	171,045.6513
ASH: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	28,325	24,695	24,475	20,977	22,737	23,672	18,590	27,093	26,400	27,402.5316	25,397.4684	20,384.8101	26,413.3671	25,370.7342	27,456	26,065.8228	26,065.8228	23,980.557	19,462.481	23,633.0127	27,456	28,498.6329	26,413.3671	21,200.2025	290,148.8101	302,016
TWL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	8,499.465	23,132.005	31,794.295	38,893.465	32,858.085	17,834.765	9,812.92	7,473.4177	6,926.5823	5,559.4937	7,203.6456	6,919.2911	7,488	7,108.8608	7,108.8608	6,540.1519	5,307.9494	6,445.3671	7,488	7,772.3544	7,203.6456	5,781.8734	182,784.4937	82,368
RVM: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	50,895.13	48,418.11	39,077.675	30,117.945	22,906.65	21,602.75	23,912.2	22,088.95	22,378.5981	22,378.5981	22,378.5981	22,378.5981	23,273.7421	23,273.7421	23,273.7421	23,273.7421	23,273.7421	23,273.7421	20,946.3678	20,946.3678	20,946.3678	20,946.3678	20,946.3678	20,946.3678	348,533.8025	265,320.6594
MAR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	4,580.81	11,245.78	14,068.08	14,874.5663	11,441.9741	4,576.7896	0	0	0	0	0	0	0	0	0	0	0	0	0	60,788	0
QFS: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	27,746.55	28,265.9	26,984.1	26,575.25	25,978.55	42,217.1896	61,552.6584	61,552.6584	42,217.1896	27,148.471	27,148.471	27,148.471	24,433.6239	24,433.6239	24,433.6239	24,433.6239	24,433.6239	24,433.6239	24,433.6239	24,433.6239	24,433.6239	343,090.046	301,348.0277
HOC: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	17,066.56	17,385.24	17,847.84	18,341.28	18,639.4	17,015.16	17,991.76	17,827.28	17,548.8205	17,548.8205	17,548.8205	17,548.8205	18,250.7733	18,250.7733	18,250.7733	18,250.7733	18,250.7733	18,250.7733	17,182.816	17,182.816	17,182.816	17,182.816	17,182.816	17,182.816	212,309.802	212,601.5358
NOR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	8,119.54	24,868.805	34,008.715	49,433.67	54,730.91	51,756.64	47,078.135	36,577.6923	13,648.3927	0	0	0	0	0	0	0	0	0	0	0	0	0	0	320,222.5	0
VOL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	25,186.28	24,673.53	25,740.05	23,750.58	24,458.175	23,945.425	25,165.77	24,027.465	23,078.2366	31,389.0959	41,362.1272	41,362.1272	29,044.4549	20,401.1611	20,401.1611	20,401.1611	20,401.1611	20,401.1611	20,401.1611	20,401.1611	20,401.1611	20,401.1611	20,401.1611	20,401.1611	334,138.8619	253,457.2272
LIN: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	22,988.68	22,443.84	21,765.36	21,528.92	22,875.6	23,029.8	23,255.96	22,001.8	22,232.9715	22,232.9715	22,232.9715	22,232.9715	23,122.2904	23,122.2904	23,122.2904	23,122.2904	23,122.2904	23,122.2904	23,122.2904	23,122.2904	23,122.2904	21,296.7813	21,296.7813	21,296.7813	268,821.846	271,990.9572
VDH: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	20,751.92	20,094	20,957.52	19,703.36	19,980.92	19,343.56	20,340.72	20,525.76	19,868.354	19,868.354	19,868.354	19,868.354	20,663.0882	20,663.0882	18,212.5849	18,212.5849	18,212.5849	18,212.5849	18,212.5849	18,212.5849	18,212.5849	18,212.5849	18,212.5849	18,212.5849	241,171.176	223,452.0257
VLM: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	7,674.485	19,669.26	21,503.755	29,482.18	20,810.5857	8,324.2343	0	0	0	0	0	0	0	0	0	0	0	0	0	0	107,464.5	0
SRV: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	17,812.935	17,054.065	17,248.91	17,628.345	17,084.83	16,777.18	16,418.255	17,894.975	16,375.0558	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	154,294.5508	0
CAR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	14,480.57	5,601.18	10,582	10,065	10,989	9,504	7,095	9,966	10,800	11,210.1266	10,389.8734	8,339.2405	10,805.4684	10,378.9367	11,232	10,663.2911	10,663.2911	9,810.2278	7,961.9241	9,668.0506	11,232	11,658.5316	10,805.4684	8,672.8101	119,021.9905	123,552
TAM: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	13,811.2	12,916.84	13,451.4	13,893.44	13,348.6	13,646.72	13,009.36	13,677.56	13,294.373	13,294.373	13,294.373	13,294.373	13,297.0805	13,297.0805	13,297.0805	13,297.0805	13,297.0805	13,297.0805	13,297.0805	13,297.0805	13,297.0805	13,297.0805	13,297.0805	13,297.0805	160,932.612	159,564.9663
OTH: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	12,749	12,067	14,707	15,950	12,474	13,343	10,538	10,890	14,400	14,946.8354	13,853.1646	11,118.9873	14,407.2911	13,838.5823	14,976	14,217.7215	14,217.7215	13,080.3038	10,615.8987	12,890.7342	14,976	15,544.7089	14,407.2911	11,563.7468	157,036.9873	164,736
FER: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	6,030.5556	15,076.3889	27,778.3798	27,778.3798	23,074.5464	13,666.8798	7,395.102	7,395.102	7,395.102	7,395.102	7,395.102	7,395.102	7,395.102	7,395.102	21,106.9444	151,459.0018
BRK: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	5,753.2133	14,837.2343	20,287.6469	22,104.4511	28,910.4611	23,460.0485	14,376.0275	8,622.8142	8,622.8142	8,622.8142	8,622.8142	0	164,220.3394
AUR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,219.5126	13,210.7383	15,625.3727	15,625.3727	13,210.7383	8,381.4694	5,161.9568	5,161.9568	5,161.9568	5,161.9568	0	89,921.0312
NEW: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	22,953.2014	54,734.5573	65,328.3426	77,687.7587	77,687.7587	65,328.3426	77,687.7587	77,687.7587	65,328.3426	77,687.7587	77,687.7587	65,328.3426	0	805,127.6813
HAL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	84.8	66.4	78.5	56.3	53.1	60.1	59.4	64.7	45.7887	45.7887	45.7887	45.7887	45.7887	45.7887	49.5387	49.5387	49.5387	49.5387	49.5387	49.5387	49.5387	49.5387	49.5387	49.5387	706.455	586.965
THV: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	17.3	19.6	11.4	17	11.6	20.9	19.6	25.1	12.4688	12.4688	12.4688	12.4688	12.4688	12.4688	12.4688	11.2219	11.2219	11.2219	11.2219	11.2219	11.2219	11.2219	11.2219	11.2219	192.375	138.4031
PEL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	13.2	6.2	8.3	6.4633	6.4633	6.4633	6.4633	6.4633	6.4633	6.4633	6.4633	6.4633	5.4938	5.4938	5.4938	5.4938	5.4938	5.4938	5.4938	53.5533	70.7735
ASH: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
TWL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
RVM: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	19.5	24	15.8	24.7	17.3	5.5	26.4	9.9	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	12.5213	11.2691	11.2691	11.2691	11.2691	11.2691	11.2691	193.185	142.7423
MAR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
QFS: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	36.1	40.8	29.2	25.5	20.1	21.238	21.238	21.238	21.238	21.238	21.238	21.238	19.1142	19.1142	19.1142	19.1142	19.1142	19.1142	19.1142	19.1142	19.1142	236.652	235.7418
HOC: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0.2	3.3	7.8	12.6	15.5	-0.3	9.2	7.6	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.8913	4.4021	4.4021	4.4021	4.4021	4.4021	4.4021	75.465	55.7603
NOR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
VOL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	55.6	50.6	61	41.6	48.5	43.5	55.4	44.3	35.0438	35.0438	35.0438	35.0438	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	29.7872	540.675	357.4463
LIN: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	13.1	7.8	1.2	-1.1	12	13.5	15.7	3.5	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.7488	5.1739	5.1739	5.1739	88.695	67.2604
VDH: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	16.4	10	18.4	6.2	8.9	2.7	12.4	14.2	7.805	7.805	7.805	7.805	7.805	7.805	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	6.6343	120.42	81.9525
VLM: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
SRV: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	33.7	26.3	28.2	31.9	26.6	23.6	20.1	34.5	19.6788	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	244.5788	0
CAR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
TAM: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	9	0.3	5.5	9.8	4.5	7.4	1.2	7.7	3.9725	3.9725	3.9725	3.9725	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	3.7739	61.29	45.2865
OTH: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
FER: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	5.85	0	70.2
BRK: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7.35	7.35	7.35	7.35	7.35	7.35	7.35	0	51.45
AUR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4.4	4.4	4.4	4.4	4.4	4.4	4.4	4.4	4.4	0	39.6
NEW: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

FOREIGN EXCHANGE: RATES, EUR TRANSLATION AND REVALUATION OF CLIENT BALANCES
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
GBP per EUR, monthly average	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	0.8694	0.8712	0.8723	0.8673	0.8667	0.8645	0.8588	0.8561	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8627	0.8565
GBP per EUR, month end	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	0.8662	0.8763	0.8683	0.8662	0.8672	0.8618	0.8557	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565	0.8565
USD per EUR, monthly average	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	1.1834	1.1862	1.1651	1.16	1.1673	1.1519	1.144	1.1541	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1625	1.1596
USD per EUR, month end	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	1.1919	1.1805	1.1498	1.1702	1.1644	1.1394	1.1485	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596	1.1596
Retainer fees	EUR CLIENTS (EUR)	invoice currency / average rate	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	57,500	57,500	57,500	55,246	55,246	53,622	58,022	58,022	58,022	58,022	58,022	58,022	56,998	56,998	56,998	811,500	683,240
Project fees	EUR CLIENTS (EUR)	invoice currency / average rate	10,258.69	4,833.42	0	0	7,070	18,120	19,810	24,973.33	18,590.4795	15,092.4405	16,843.75	16,843.75	28,872.25	50,592	63,235.8519	78,937.6296	81,076.5185	69,652.5185	78,937.6296	74,659.8519	60,384	71,808	71,808	60,384	152,435.86	790,348.25
Time and materials	EUR CLIENTS (EUR)	invoice currency / average rate	9,664.16	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	13,610.68	16,047.13	19,536.9343	20,278.8432	18,795.0254	15,085.4809	19,546.8264	18,775.2412	20,318.4117	19,289.6313	19,289.6313	17,746.4608	14,402.9247	17,489.2657	20,318.4117	21,089.9969	19,546.8264	15,688.9002	197,224.8738	223,502.5284
Media management fees	EUR CLIENTS (EUR)	invoice currency / average rate	8,432.55	8,604.35	9,067.88	9,810.39	9,380.12	9,591.18	8,429.97	8,627.11	9,640	10,604	13,014	11,568	8,081.8	8,081.8	8,605.1	9,058	9,058	8,605.1	7,699.3	8,152.2	9,058	9,523.8	11,688.3	10,389.6	116,769.55	108,001
Production recharged	EUR CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Revenue	EUR CLIENTS (EUR)		99,355.4	93,238.01	98,915.28	100,556.9	106,052.2	116,921.57	112,850.65	120,647.57	118,767.4138	103,475.2837	106,152.7754	100,997.2309	111,746.8764	132,695.0412	145,781.3635	165,307.261	167,446.1499	154,026.0793	159,061.8544	158,323.3176	147,782.4117	159,419.7969	160,041.1264	143,460.5002	1,277,930.2838	1,805,091.7784
Media spend rebilled	EUR CLIENTS (EUR)		80,762.71	82,149.17	86,658.27	93,830.35	89,680.99	91,637.13	80,253.56	81,888.66	92,000	101,200	124,200	110,400	77,265	77,265	82,080	86,400	86,400	82,080	73,440	77,760	86,400	90,640	111,240	98,880	1,114,660.84	1,029,850
VAT on invoices	EUR CLIENTS (EUR)		8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	9,929.4336	11,175.3525	12,749.0838	11,671.3811	8,847.7163	9,420.9756	9,883.6229	10,362.8082	10,230.6153	9,949.7193	9,189.6381	9,040.9075	9,999.2779	10,924.6002	12,428.2248	11,387.2476	124,523.7638	121,665.3537
Cash received	EUR CLIENTS (EUR)		186,307.37	218,587.83	184,863.9	161,420.07	226,869.25	228,033.51	182,256.77	230,382.82	195,566.814	181,323.3848	279,754.2819	208,969.2755	206,246.1866	273,413.277	154,937.902	251,231.4868	277,133.5544	227,426.2221	257,056.9035	259,331.5109	226,359.0775	248,742.6726	283,597.6836	257,004.95	2,484,335.2761	2,922,481.427
Written off	EUR CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivables at the month-end rate	EUR CLIENTS (EUR)		180,833.5988	149,576.8344	133,915.0084	208,320.0968	194,481.1148	151,415.8996	189,035.7464	166,073.4028	153,123.1524	247,316.0544	179,303.6995	183,868.8306	250,048.6412	130,195.9661	225,374.0282	251,503.7613	202,570.4536	234,090.6821	236,331.1776	201,127.6989	221,337.165	252,151.3043	228,222.1424	235,042.8664	183,868.8306	235,042.8664
Contract assets at the month-end rate	EUR CLIENTS (EUR)		27,030.74	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	29,810.68	18,820.46	40,900.7438	20,278.8432	28,595.0254	22,129.2309	19,546.8264	29,383.2412	20,318.4117	19,289.6313	37,597.6313	19,314.9793	23,101.0729	28,097.2657	20,318.4117	21,089.9969	30,154.8264	15,688.9002	22,129.2309	15,688.9002
Contract liabilities at the month-end rate	EUR CLIENTS (EUR)		32,000	16,000	0	32,000	37,730	3,610	32,000	16,000	0	39,043.75	16,000	0	71,984	16,000	19,306.1481	33,568.5185	16,000	10,608	32,000	16,000	10,608	29,952	14,976	10,608	0	10,608
Net client position (receivables + contract assets - contract liabilities)	EUR CLIENTS (EUR)		175,864.3388	142,377.0744	152,762.4084	196,066.6068	175,353.1948	166,016.2896	186,846.4264	168,893.8628	194,023.8962	228,551.1476	191,898.7249	205,998.0615	197,611.4676	143,579.2073	226,386.2918	237,224.8741	224,168.0849	242,797.6615	227,432.2504	213,224.9646	231,047.5767	243,289.3012	243,400.9688	240,123.7665	205,998.0615	240,123.7665
FX GAIN / (LOSS) ON REVALUATION	EUR CLIENTS (EUR)	closing - opening - flows at average rates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	GBP CLIENTS (EUR)	invoice currency / average rate	86,266.3906	86,083.2138	85,978.6085	86,476.2651	86,531.1397	100,057.8369	100,727.802	101,038.418	100,994.7693	100,994.7693	100,994.7693	100,994.7693	102,956.2862	102,956.2862	107,159.5367	106,038.6699	106,038.6699	112,654.1192	111,309.079	111,309.079	111,309.079	111,309.079	111,309.079	111,309.079	1,137,138.7518	1,305,658.0422
Project fees	GBP CLIENTS (EUR)	invoice currency / average rate	55,136.991	37,598.1291	34,845.1926	30,839.6499	33,793.2944	42,692.8861	55,726.7889	59,057.6328	55,561.2131	36,905.1719	15,238.1615	0	0	6,208.8832	16,012.3829	21,894.4828	23,855.1827	21,894.4828	16,012.3829	6,208.8832	0	0	0	0	457,395.1115	112,086.6804
Time and materials	GBP CLIENTS (EUR)	invoice currency / average rate	23,639.441	20,794.9842	21,308.262	17,149.4425	18,843.9324	20,506.6975	15,909.147	22,918.3166	22,560.0195	29,822.212	27,640.0989	22,184.8163	28,745.7029	27,611.0041	29,880.4017	28,367.47	28,367.47	26,098.0724	21,181.0442	25,719.8394	29,880.4017	31,015.1005	28,745.7029	23,072.2089	263,277.3699	328,684.4186
Media management fees	GBP CLIENTS (EUR)	invoice currency / average rate	5,952.1049	5,479.4376	6,115.1082	7,156.9948	6,489.0048	5,696.7843	5,588.2271	7,010.2206	6,421.6327	7,063.796	8,669.2042	7,705.9593	5,458.3878	5,458.3878	6,100.5511	5,779.4695	5,779.4695	5,490.496	4,912.549	5,201.5225	5,779.4695	6,357.4164	7,802.2838	6,935.3633	79,348.4744	71,055.3661
Production recharged	GBP CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	4,830	6,440	2,325.5556	1,788.8889	715.5556	0	0	0	0	0	0	0	0	0	0	0	0	0	16,100	0
Revenue	GBP CLIENTS (EUR)		170,994.9275	149,955.7647	148,247.1713	141,622.3524	145,657.3713	168,954.2047	182,781.9651	196,464.588	187,863.1901	176,574.8381	153,257.7895	130,885.5448	137,160.3769	142,234.5613	159,152.8724	162,080.0921	164,040.792	166,137.1703	153,415.0552	148,439.3241	146,968.9502	148,681.5959	147,857.0657	141,316.6513	1,953,259.7076	1,817,484.5074
Media spend rebilled	GBP CLIENTS (EUR)		59,521.072	54,794.33	61,151.0931	71,569.9708	64,890.0016	56,967.8311	55,882.2707	70,102.2415	64,216.3273	70,637.96	86,692.0418	77,059.5928	54,583.8782	54,583.8782	61,005.5109	57,794.6946	57,794.6946	54,904.9598	49,125.4904	52,015.2251	57,794.6946	63,574.164	78,022.8377	69,353.6335	793,484.7328	710,553.6615
VAT on invoices	GBP CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash received	GBP CLIENTS (EUR)		172,463.17	302,527.7704	158,536.4377	226,595.7984	265,649.122	171,088.074	261,480.4541	240,778.9536	183,153.1745	285,898.5792	244,862.9471	253,377.9071	201,705.7568	222,025.3106	188,467.8732	200,921.0083	231,387.6116	204,598.9483	203,355.2105	225,121.5228	192,057.6482	199,241.4516	242,272.9555	211,311.1349	2,766,412.3884	2,522,466.4323
Written off	GBP CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivables at the month-end rate	GBP CLIENTS (EUR)		324,748.4646	172,070.5809	254,842.2144	291,635.6595	183,482.1789	264,594.1656	257,253.1201	199,301.8178	312,142.0019	264,315.944	278,221.4295	220,730.3988	239,235.0981	225,066.5029	220,961.6888	252,319.2701	247,353.9575	227,779.3772	248,654.7115	230,473.3867	222,626.144	267,291.1075	236,774.776	225,414.7428	220,730.3988	225,414.7428
Contract assets at the month-end rate	GBP CLIENTS (EUR)		29,440.8104	62,324.4323	56,603.4687	17,170.0317	36,049.0181	20,571.4219	38,027.1581	81,232.2646	24,945.3209	63,972.2441	27,640.0989	22,184.8163	28,745.7029	27,611.0041	29,880.4017	38,857.2147	28,367.47	37,502.8104	48,598.1652	25,719.8394	29,880.4017	31,015.1005	28,745.7029	23,072.2089	22,184.8163	23,072.2089
Contract liabilities at the month-end rate	GBP CLIENTS (EUR)		36,030.4779	17,117.4255	41,078.8525	51,209.2352	17,296.4496	26,644.8514	57,828.5441	17,513.5438	5,140.4413	35,027.0876	17,513.5438	0	35,027.0876	44,930.6647	11,404.738	32,785.354	26,882.4217	0	32,785.354	16,392.677	0	32,785.354	16,392.677	0	0	0
Net client position (receivables + contract assets - contract liabilities)	GBP CLIENTS (EUR)		318,158.797	217,277.5876	270,366.8306	257,596.456	202,234.7474	258,520.7362	237,451.7342	263,020.5386	331,946.8815	293,261.1004	288,347.9846	242,915.2151	232,953.7134	207,746.8423	239,437.3525	258,391.1308	248,839.0057	265,282.1876	264,467.5227	239,800.5491	252,506.5456	265,520.854	249,127.8019	248,486.9517	242,915.2151	248,486.9517
FX GAIN / (LOSS) ON REVALUATION	GBP CLIENTS (EUR)	closing - opening - flows at average rates	2,120.6134	-3,103.5337	2,227.4164	633.1006	-259.9595	1,452.0269	1,747.2164	-219.0714	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,597.809	0
Retainer fees	USD CLIENTS (EUR)	invoice currency / average rate	9,294.8583	9,273.3097	9,440.8445	31,896.5517	31,697.0787	32,120.8438	32,344.071	32,061.0026	31,907.5543	31,907.5543	31,907.5543	31,907.5543	37,728.5271	37,728.5271	37,728.5271	36,293.5495	36,293.5495	36,293.5495	35,686.4436	35,686.4436	35,686.4436	35,686.4436	35,686.4436	35,686.4436	315,758.7776	436,184.8913
Project fees	USD CLIENTS (EUR)	invoice currency / average rate	0	5,757.5198	17,952.8988	24,660.0431	31,771.5412	31,626.8947	26,681.4634	26,498.6872	38,480.648	43,897.7152	40,682.9303	28,945.1663	16,608.5368	16,608.5368	12,775.7975	5,110.319	0	0	0	0	0	0	0	0	316,955.5079	51,103.1901
Time and materials	USD CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	USD CLIENTS (EUR)	invoice currency / average rate	5,145.7518	5,251.2393	6,412.5134	6,804.0517	7,230.3093	6,730.9141	7,076.3757	7,039.461	6,985.1673	7,683.684	9,429.9759	8,382.2008	5,937.3922	5,937.3922	6,635.9089	6,985.1673	6,985.1673	6,635.9089	5,343.653	5,657.9855	6,286.6506	6,915.3156	8,486.9783	7,543.9807	84,171.6443	79,351.5005
Production recharged	USD CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	0	0	5,250	11,550	11,550	5,250	0	0	0	0	0	0	0	0	0	0	0	0	33,600	0
Revenue	USD CLIENTS (EUR)		14,440.6101	20,282.0688	33,806.2567	63,360.6466	70,698.9292	70,478.6527	66,101.91	65,599.1508	82,623.3697	95,038.9535	93,570.4604	74,484.9214	60,274.4561	60,274.4561	57,140.2335	48,389.0358	43,278.7168	42,929.4584	41,030.0966	41,344.4291	41,973.0942	42,601.7592	44,173.4219	43,230.4243	750,485.9298	566,639.582
Media spend rebilled	USD CLIENTS (EUR)		57,175.0222	58,347.0747	71,250.1395	75,600.569	80,336.8029	74,787.8896	78,626.4347	78,216.2298	77,612.97	85,374.267	104,777.5095	93,135.564	65,971.0245	65,971.0245	73,732.3215	77,612.97	77,612.97	73,732.3215	59,373.922	62,866.5057	69,851.673	76,836.8403	94,299.7585	83,822.0076	935,240.4727	881,683.3391
VAT on invoices	USD CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash received	USD CLIENTS (EUR)		91,337.7244	122,374.6839	99,282.2383	108,132.819	105,239.8441	85,004.1063	174,841.9074	130,935.67	121,900.4484	139,882.9596	181,821.8696	196,859.5895	201,082.8217	154,483.3994	123,434.8051	123,434.8051	127,727.6647	131,240.0828	120,891.6868	116,661.7799	100,404.0186	104,210.9348	111,824.7672	119,438.5995	1,557,613.8606	1,534,835.3656
Written off	USD CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	7,114.5222	0	0	0	0	0	0	0	0	0	0	0	0	0	7,114.5222	0
Receivables at the month-end rate	USD CLIENTS (EUR)		193,247.8731	198,739.1868	191,704.2529	194,476.8757	223,675.2491	316,774.39	257,694.4449	241,673.9307	282,534.693	337,765.031	368,584.0548	341,444.9724	249,999.0945	232,748.3615	227,410.3139	245,563.9876	238,728.0097	224,149.7068	203,662.0386	191,211.1935	202,631.942	217,859.6068	244,508.02	252,121.8524	341,444.9724	252,121.8524
Contract assets at the month-end rate	USD CLIENTS (EUR)		0	0	0	0	11,971.7966	0	11,661.5063	37,921.7403	50,272.6884	20,696.792	14,875.8192	0	13,797.8613	2,810.6755	15,586.473	0	0	0	0	0	0	0	0	0	0	0
Contract liabilities at the month-end rate	USD CLIENTS (EUR)		0	47,581.8975	30,659.7756	5,680.1914	0	15,033.3684	0	0	14,875.8192	0	15,586.473	2,810.6755	0	0	0	0	0	0	0	0	0	0	0	0	2,810.6755	0
Net client position (receivables + contract assets - contract liabilities)	USD CLIENTS (EUR)		193,247.8731	151,157.2893	161,044.4773	188,796.6843	235,647.0457	301,741.0216	269,355.9512	279,595.6709	317,931.5622	358,461.823	367,873.4011	338,634.2969	263,796.9558	235,559.037	242,996.7869	245,563.9876	238,728.0097	224,149.7068	203,662.0386	191,211.1935	202,631.942	217,859.6068	244,508.02	252,121.8524	338,634.2969	252,121.8524
FX GAIN / (LOSS) ON REVALUATION	USD CLIENTS (EUR)	closing - opening - flows at average rates	-2,921.3113	1,654.9565	4,113.0302	-3,076.1895	1,054.4734	5,831.5399	-2,271.5077	-2,639.9909	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,745.0007	0
Retainer fees	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	203,902.3236	190,402.3236	190,402.3236	190,402.3236	195,930.8133	195,930.8133	198,510.0638	200,354.2194	200,354.2194	206,969.6687	205,017.5226	205,017.5226	205,017.5226	203,993.5226	203,993.5226	203,993.5226	2,264,397.5294	2,425,082.9336
Project fees	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	112,632.3406	95,895.3276	72,764.8417	45,788.9163	45,480.7868	73,409.42	92,024.0323	105,942.4314	104,931.7012	91,547.0013	94,950.0125	80,868.735	60,384	71,808	71,808	60,384	926,786.4793	953,538.1205
Time and materials	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	33,303.601	29,595.2242	40,155.662	36,895.9525	37,446.0124	38,717.0875	29,519.827	38,965.4466	42,096.9538	50,101.0552	46,435.1243	37,270.2972	48,292.5293	46,386.2453	50,198.8134	47,657.1013	47,657.1013	43,844.5332	35,583.969	43,209.1052	50,198.8134	52,105.0974	48,292.5293	38,761.1091	460,502.2437	552,186.947
Media management fees	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	19,530.4067	19,335.0268	21,595.5016	23,771.4365	23,099.434	22,018.8784	21,094.5728	22,676.7917	23,046.8	25,351.48	31,113.18	27,656.16	19,477.58	19,477.58	21,341.56	21,822.6368	21,822.6368	20,731.5049	17,955.502	19,011.708	21,124.12	22,796.532	27,977.562	24,868.944	280,289.6687	258,407.8667
Production recharged	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	0	0	0	0	0	0	4,830	6,440	7,575.5556	13,338.8889	12,265.5556	5,250	0	0	0	0	0	0	0	0	0	0	0	0	49,700	0
REVENUE	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	361,734.5251	382,711.3088	389,253.9736	375,089.0754	352,981.0253	306,367.6971	309,181.7094	335,204.0585	362,074.4695	375,776.3889	374,765.6587	363,092.7081	353,507.0062	348,107.0708	336,724.456	350,703.1521	352,071.614	328,007.5757	3,981,675.9212	4,189,215.8677
Media spend rebilled	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	197,458.8042	195,290.5747	219,059.5025	241,000.8898	234,907.7945	223,392.8507	214,762.2655	230,207.1313	233,829.2973	257,212.227	315,669.5513	280,595.1567	197,819.9027	197,819.9027	216,817.8324	221,807.6646	221,807.6646	210,717.2813	181,939.4124	192,641.7308	214,046.3676	231,051.0043	283,562.5962	252,055.6411	2,843,386.0455	2,622,087.0006
VAT on invoices	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	9,929.4336	11,175.3525	12,749.0838	11,671.3811	8,847.7163	9,420.9756	9,883.6229	10,362.8082	10,230.6153	9,949.7193	9,189.6381	9,040.9075	9,999.2779	10,924.6002	12,428.2248	11,387.2476	124,523.7638	121,665.3537
Cash received	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	450,108.2645	643,490.2843	442,682.5761	496,148.6874	597,758.2161	484,125.6903	618,579.1316	602,097.4437	500,620.4369	607,104.9237	706,439.0986	659,206.772	609,034.7651	649,921.9871	466,840.5802	575,587.3002	636,248.8308	563,265.2532	581,303.8008	601,114.8136	518,820.7443	552,195.059	637,695.4062	587,754.6845	6,808,361.5251	6,979,783.225
Written off	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	0	0	0	0	0	0	0	0	0	0	7,114.5222	0	0	0	0	0	0	0	0	0	0	0	0	0	7,114.5222	0
Receivables	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	732,784.4552	703,983.3115	607,049.1513	747,799.8473	849,397.0295	826,109.1839	746,044.2019	739,282.8338	588,010.8306	673,746.031	749,387.019	688,652.4208	686,019.7661	688,647.9277	622,812.2791	646,595.251	737,302.0186	709,504.9384	712,579.4615	746,044.2019	712,579.4615
Contract assets	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	56,471.5504	71,124.6723	75,450.8687	36,916.5417	66,622.8948	38,781.8119	79,499.3444	137,974.4649	116,118.7531	104,947.8793	71,110.9436	44,314.0472	62,090.3906	59,804.9207	65,785.2864	58,146.846	65,965.1013	56,817.7897	71,699.2381	53,817.1052	50,198.8134	52,105.0974	58,900.5293	38,761.1091	44,314.0472	38,761.1091
Contract liabilities	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	68,030.4779	80,699.323	71,738.6281	88,889.4266	55,026.4496	45,288.2198	89,828.5441	33,513.5438	20,016.2606	74,070.8376	49,100.0168	2,810.6755	107,011.0876	60,930.6647	30,710.8862	66,353.8725	42,882.4217	10,608	64,785.354	32,392.677	10,608	62,737.354	31,368.677	10,608	2,810.6755	10,608
FX GAIN / (LOSS)	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	-800.6979	-1,448.5772	6,340.4465	-2,443.0889	794.5139	7,283.5668	-524.2913	-2,859.0624	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,342.8096	0
Gross billings ex VAT (fees, media and recharges)	TOTALS, ALL CURRENCIES (EUR)	revenue + media spend rebilled	482,249.7418	458,766.4182	500,028.2106	546,540.7887	557,316.2949	579,747.2781	576,496.7906	612,918.4401	623,083.2709	632,301.3024	668,650.5766	586,962.8538	507,001.6121	533,023.9612	578,892.3019	597,584.0534	596,573.3232	573,809.9894	535,446.4186	540,748.8016	550,770.8236	581,754.1564	635,634.2102	580,063.2168	6,825,061.9667	6,811,302.8683
Share of revenue invoiced in GBP	EXPOSURE (memo)		60.04%	56.91%	52.76%	46.35%	45.18%	47.41%	50.53%	51.33%	48.26%	47.08%	43.42%	42.72%	44.36%	42.43%	43.96%	43.13%	43.77%	45.76%	43.4%	42.64%	43.65%	42.4%	42%	43.08%	49.06%	43.38%
Share of revenue invoiced in USD	EXPOSURE (memo)		5.07%	7.7%	12.03%	20.74%	21.93%	19.78%	18.27%	17.14%	21.23%	25.34%	26.51%	24.31%	19.49%	17.98%	15.78%	12.88%	11.55%	11.82%	11.61%	11.88%	12.47%	12.15%	12.55%	13.18%	18.85%	13.53%
EUR impact of a 5% weaker pound and dollar on the month-end GBP and USD positions	EXPOSURE (memo)	position x (1/1.05 - 1)	-24,352.6986	-17,544.5179	-20,543.3956	-21,256.8162	-20,851.514	-26,679.1313	-24,133.6993	-25,838.8671	-30,946.5926	-31,034.4249	-31,248.6374	-27,692.8339	-23,654.7938	-21,109.8038	-22,973.0543	-23,997.8628	-23,217.4769	-23,306.2807	-22,291.8839	-20,524.3687	-21,673.2613	-23,018.1172	-23,506.4677	-23,838.5145	-27,692.8339	-23,838.5145

PEOPLE: PAYROLL, STAFF TABLE, BONUS PROVISION AND PAYROLL TAXES (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Redundancy compensation (one month average wage per leaver)	DELIVERY PAYROLL	capacity cut x average salary at the last actual month x pay inflation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Delivery team gross pay (incl. any redundancy compensation)	DELIVERY PAYROLL	A: payroll; F: headcount x salary x pay inflation + redundancy	133,124	132,557	134,790	139,333	132,804	132,502	136,778	137,521	135,700	140,600	144,300	144,300	153,097.725	153,097.725	154,727.925	154,727.925	154,727.925	154,727.925	154,727.925	154,727.925	154,727.925	154,727.925	154,727.925	154,727.925	1,644,309	1,853,474.7
Employer social tax and unemployment insurance	DELIVERY PAYROLL	gross x (33% + 0.8%)	44,995.912	44,804.266	45,559.02	47,094.554	44,887.752	44,785.676	46,230.964	46,482.098	45,866.6	47,522.8	48,773.4	48,773.4	51,747.031	51,747.031	52,298.0387	52,298.0387	52,298.0387	52,298.0387	52,298.0387	52,298.0387	52,298.0387	52,298.0387	52,298.0387	52,298.0387	555,776.442	626,474.4486
DELIVERY PAYROLL COST	DELIVERY PAYROLL		178,119.912	177,361.266	180,349.02	186,427.554	177,691.752	177,287.676	183,008.964	184,003.098	181,566.6	188,122.8	193,073.4	193,073.4	204,844.756	204,844.756	207,025.9636	207,025.9636	207,025.9636	207,025.9636	207,025.9636	207,025.9636	207,025.9636	207,025.9636	207,025.9636	207,025.9636	2,200,085.442	2,479,949.1486
Founder and chief executive (executive creative director)	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	7,800	2016-04-30
Operations and finance manager	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	4,900	2019-02-28
New business director	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,400	2021-09-30
People and office manager	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,000	2020-08-31
Marketing and communications lead	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,300	2023-03-31
Planned hire: head of delivery	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5,852	5,852	5,852	5,852	5,852	5,852	5,852	5,852	5,852	5,600	2027-04-30
Gross pay per staff table	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	sum of roles	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	25,498	25,498	25,498	31,350	31,350	31,350	31,350	31,350	31,350	31,350	31,350	31,350	292,800	358,644
Leadership, new business and operations gross pay	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	A: payroll; F: staff table	24,576	24,425	24,105	24,554	24,215	24,402	24,337	24,453	24,400	24,400	24,400	24,400	25,498	25,498	25,498	31,350	31,350	31,350	31,350	31,350	31,350	31,350	31,350	31,350	292,667	358,644
Employer social tax and unemployment insurance	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)		8,306.688	8,255.65	8,147.49	8,299.252	8,184.67	8,247.876	8,225.906	8,265.114	8,247.2	8,247.2	8,247.2	8,247.2	8,618.324	8,618.324	8,618.324	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	98,921.446	121,221.672
LEADERSHIP, NEW BUSINESS AND OPERATIONS PAYROLL COST	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)		32,882.688	32,680.65	32,252.49	32,853.252	32,399.67	32,649.876	32,562.906	32,718.114	32,647.2	32,647.2	32,647.2	32,647.2	34,116.324	34,116.324	34,116.324	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	391,588.446	479,865.672
Leadership, new business and operations headcount	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	A: payroll; F: active roles in the staff table	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	6	6	6	6	6	6	6	6	6	5	6
Leadership hires in the month	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	0	0	0	0	0	0	0	0	1
Delivery headcount	HEADCOUNT	Utilisation	33	33	33	34	32	32	33	33	33	34	35	35	35.45	35.45	35.85	35.85	35.85	35.85	35.85	35.85	35.85	35.85	35.85	35.85	35	35.85
TOTAL HEADCOUNT	HEADCOUNT		38	38	38	39	37	37	38	38	38	39	40	40	40.45	40.45	40.85	41.85	41.85	41.85	41.85	41.85	41.85	41.85	41.85	41.85	40	41.85
Accrual rate (share of gross pay)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	A: actual rate; F: scenario	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%	5%
Bonus accrued (P&L)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	gross pay x rate x (1 + employer taxes)	10,550.13	10,502.0958	10,630.0755	10,964.0403	10,504.5711	10,496.8776	10,778.5935	10,836.0606	10,710.69	11,038.5	11,286.03	11,286.03	11,948.054	11,948.054	12,057.1144	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	12,448.6132	129,583.6944	147,990.741
Prior-year bonus paid (provision utilised)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	A: payroll; F: March, provision at the prior December	0	0	131,500	0	0	0	0	0	0	0	0	0	0	0	129,583.6944	0	0	0	0	0	0	0	0	0	131,500	129,583.6944
BONUS PROVISION (to balance sheet)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	opening + accrued - utilised	142,050.13	152,552.2258	31,682.3013	42,646.3416	53,150.9127	63,647.7903	74,426.3838	85,262.4444	95,973.1344	107,011.6344	118,297.6644	129,583.6944	141,531.7484	153,479.8024	35,953.2224	48,401.8356	60,850.4488	73,299.0619	85,747.6751	98,196.2883	110,644.9015	123,093.5147	135,542.1278	147,990.741	129,583.6944	147,990.741
Gross pay, all staff (excl. bonus)	PAYROLL TAXES (TSD), NET PAY		157,700	156,982	158,895	163,887	157,019	156,904	161,115	161,974	160,100	165,000	168,700	168,700	178,595.725	178,595.725	180,225.925	186,077.925	186,077.925	186,077.925	186,077.925	186,077.925	186,077.925	186,077.925	186,077.925	186,077.925	1,936,976	2,212,118.7
Withheld: unemployment insurance, pension and income tax	PAYROLL TAXES (TSD), NET PAY	gross x 3.6% + income tax on (gross - 3.6% - EUR 700 x heads)	33,270.216	33,092.0946	33,566.6716	34,651.087	33,255.2735	33,226.7443	34,117.4092	34,330.5099	33,865.608	34,927.2	35,691.096	35,691.096	38,076.7275	38,076.7275	38,419.5475	39,717.3116	39,717.3116	39,717.3116	39,717.3116	39,717.3116	39,717.3116	39,717.3116	39,717.3116	39,717.3116	409,685.0061	472,028.8071
Employer social tax and unemployment insurance	PAYROLL TAXES (TSD), NET PAY		53,302.6	53,059.916	53,706.51	55,393.806	53,072.422	53,033.552	54,456.87	54,747.212	54,113.8	55,770	57,020.6	57,020.6	60,365.355	60,365.355	60,916.3627	62,894.3386	62,894.3386	62,894.3386	62,894.3386	62,894.3386	62,894.3386	62,894.3386	62,894.3386	62,894.3386	654,697.888	747,696.1206
Bonus paid: gross	PAYROLL TAXES (TSD), NET PAY	utilised / (1 + employer taxes)	0	0	98,281.0164	0	0	0	0	0	0	0	0	0	0	0	96,848.8	0	0	0	0	0	0	0	0	0	98,281.0164	96,848.8
Bonus paid: withheld taxes	PAYROLL TAXES (TSD), NET PAY	gross x (3.6% + 22% x 96.4%)	0	0	24,381.5546	0	0	0	0	0	0	0	0	0	0	0	24,026.2503	0	0	0	0	0	0	0	0	0	24,381.5546	24,026.2503
Bonus paid: employer taxes	PAYROLL TAXES (TSD), NET PAY	utilised - gross	0	0	33,218.9836	0	0	0	0	0	0	0	0	0	0	0	32,734.8944	0	0	0	0	0	0	0	0	0	33,218.9836	32,734.8944
TSD taxes: opening	PAYROLL TAXES (TSD), NET PAY		86,983.07	86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	90,697.2	92,711.696	92,711.696	98,442.0825	98,442.0825	156,097.0548	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503
TSD taxes: accrued	PAYROLL TAXES (TSD), NET PAY	withheld + employer taxes, salaries and bonus	86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	90,697.2	92,711.696	92,711.696	98,442.0825	98,442.0825	156,097.0548	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	1,121,983.4322	1,276,486.0724
TSD taxes: paid (prior month, by the 10th)	PAYROLL TAXES (TSD), NET PAY		-86,983.07	-86,572.816	-86,152.0106	-144,873.7197	-90,044.893	-86,327.6955	-86,260.2963	-88,574.2792	-89,077.7219	-87,979.408	-90,697.2	-92,711.696	-92,711.696	-98,442.0825	-98,442.0825	-156,097.0548	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-102,611.6503	-1,116,254.8062	-1,266,586.1181
TSD TAXES PAYABLE (to balance sheet)	PAYROLL TAXES (TSD), NET PAY		86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	90,697.2	92,711.696	92,711.696	98,442.0825	98,442.0825	156,097.0548	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	102,611.6503	92,711.696	102,611.6503
Net salaries paid (month end)	PAYROLL TAXES (TSD), NET PAY	gross - withheld	124,429.784	123,889.9054	125,328.3284	129,235.913	123,763.7265	123,677.2557	126,997.5908	127,643.4901	126,234.392	130,072.8	133,008.904	133,008.904	140,518.9975	140,518.9975	141,806.3775	146,360.6134	146,360.6134	146,360.6134	146,360.6134	146,360.6134	146,360.6134	146,360.6134	146,360.6134	146,360.6134	1,527,290.9939	1,740,089.8929
Net bonus paid (March)	PAYROLL TAXES (TSD), NET PAY	bonus gross - withheld	0	0	73,899.4619	0	0	0	0	0	0	0	0	0	0	0	72,822.5497	0	0	0	0	0	0	0	0	0	73,899.4619	72,822.5497
Payroll cost (incl. bonus) and freelancers / net revenue	PEOPLE RATIOS		79.57%	85.95%	81.27%	77.49%	70.04%	69.02%	80%	68.95%	61.84%	65.33%	70.9%	80.39%	83.01%	76.57%	71.52%	71.1%	71.29%	73.58%	80.17%	76.75%	79.34%	76.18%	75.88%	81.45%	73.52%	76.22%
Net revenue per head, annualised	PEOPLE RATIOS	net revenue x 12 / headcount	89,933.9803	83,202.8979	88,726.9604	94,012.2766	104,564.9191	115,574.4089	112,905.6395	119,087.7817	120,803.4478	111,760.3138	102,613.8909	90,504.0591	91,722.6332	99,442.4895	106,362.1453	107,749.5022	107,459.6871	104,112.6045	101,364.0161	99,815.6476	96,551.8153	100,560.0436	100,952.4341	94,052.3515	102,807.548	100,845.4475

NEW BUSINESS, RENEWALS AND REVENUE VISIBILITY (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Retainers in their current term	FEE REVENUE BY SECURITY (EUR)	Retainers	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	203,902.3236	190,402.3236	190,402.3236	190,402.3236	113,864.401	113,864.401	99,864.401	59,929.3325	59,929.3325	46,502.2822	16,000	16,000	16,000	0	0	0	2,264,397.5294	541,954.1501
Retainers after renewal (renewal-weighted)	FEE REVENUE BY SECURITY (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	76,245.4396	76,245.4396	88,621.4396	126,000.6637	126,000.6637	137,870.1761	166,420.3122	166,420.3122	166,420.3122	181,396.3122	181,396.3122	181,396.3122	0	1,674,433.6956
Pipeline retainers (win-weighted)	FEE REVENUE BY SECURITY (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	5,820.9727	5,820.9727	10,024.2233	14,424.2233	14,424.2233	22,597.2104	22,597.2104	22,597.2104	22,597.2104	22,597.2104	22,597.2104	22,597.2104	0	208,695.0879
Signed projects	FEE REVENUE BY SECURITY (EUR)	Projects	65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	112,632.3406	88,239.0776	50,810.7727	16,169.3687	0	0	0	0	0	0	0	0	0	0	0	0	867,556.6128	0
Pipeline projects (win-weighted)	FEE REVENUE BY SECURITY (EUR)	Projects	0	0	0	0	0	0	0	0	0	7,656.25	21,954.069	29,619.5475	45,480.7868	73,409.42	92,024.0323	105,942.4314	104,931.7012	91,547.0013	94,950.0125	80,868.735	60,384	71,808	71,808	60,384	59,229.8665	953,538.1205
Time and materials and media fees (run-rate base)	FEE REVENUE BY SECURITY (EUR)	FX	52,834.0077	48,930.2511	61,751.1635	60,667.389	60,545.4465	60,735.9659	50,614.3998	61,642.2382	65,143.7538	75,452.5352	77,548.3044	64,926.4572	67,770.1093	65,863.8253	71,540.3734	69,479.7381	69,479.7381	64,576.0381	53,539.471	62,220.8132	71,322.9334	74,901.6294	76,270.0913	63,630.0531	740,791.9124	810,594.8137
FEE REVENUE	FEE REVENUE BY SECURITY (EUR)		284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	356,904.5251	376,271.3088	381,678.4181	361,750.1865	340,715.4697	301,117.6971	309,181.7094	335,204.0585	362,074.4695	375,776.3889	374,765.6587	363,092.7081	353,507.0062	348,107.0708	336,724.456	350,703.1521	352,071.614	328,007.5757	3,931,975.9212	4,189,215.8677
Share of fee revenue from pipeline (not yet won)	FEE REVENUE BY SECURITY (EUR)		0%	0%	0%	0%	0%	0%	0%	0%	0%	2.12%	6.44%	9.84%	16.59%	23.64%	28.18%	32.03%	31.85%	31.44%	33.25%	29.72%	24.64%	26.92%	26.81%	25.3%	1.51%	27.74%
Signed project fees still to earn	BACKLOG	Projects	74,720.8136	203,419.2598	319,901.796	266,042.8103	302,799.593	276,919.8899	275,084.0736	164,561.4833	155,219.2191	66,980.1415	16,169.3687	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Pipeline project fees still to earn (win-weighted)	BACKLOG	Projects	0	0	0	0	0	0	0	0	1,084,575.987	1,076,919.737	1,054,965.668	1,025,346.1205	979,865.3337	906,455.9137	814,431.8814	708,489.4501	603,557.7488	512,010.7476	417,060.735	336,192	275,808	204,000	132,192	71,808	1,025,346.1205	71,808
Retainer fees, monthly run-rate (EUR)	BACKLOG	Retainers	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	203,902.3236	190,402.3236	190,402.3236	190,402.3236	195,930.8133	195,930.8133	198,510.0638	200,354.2194	200,354.2194	206,969.6687	205,017.5226	205,017.5226	205,017.5226	203,993.5226	203,993.5226	203,993.5226	188,699.7941	202,090.2445

KPI DASHBOARD
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Net revenue	GROWTH AND MARGIN	PL	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	357,534.5251	377,111.3088	382,544.2514	363,221.0198	342,046.3031	301,680.1971	309,181.7094	335,204.0585	362,074.4695	375,776.3889	374,765.6587	363,092.7081	353,507.0062	348,107.0708	336,724.456	350,703.1521	352,071.614	328,007.5757	3,937,675.9212	4,189,215.8677
Net revenue growth vs same month prior year	GROWTH AND MARGIN														8.56%	27.22%	28.87%	22.99%	16.24%	1.89%	-1.13%	-7.69%	-11.98%	-3.45%	2.93%	8.73%		6.39%
Delivery contribution %	GROWTH AND MARGIN	PL	35.68%	30.44%	33.99%	36.85%	43.27%	43.08%	32.12%	42.6%	49.5%	46.69%	41.95%	34.18%	31.89%	37.17%	41.23%	43.38%	43.22%	41.4%	35.22%	38.88%	36.81%	39.33%	39.57%	35.13%	39.72%	38.77%
EBITDA % of net revenue	GROWTH AND MARGIN	PL	8.86%	-0.24%	3.39%	10.1%	16.66%	19%	10.13%	22.41%	28.66%	23.42%	17.2%	7.57%	4.22%	12.26%	17.64%	17.74%	18.72%	16.11%	9.24%	12.5%	9.54%	13.14%	13.48%	7.13%	14.82%	12.86%
People cost % of net revenue	GROWTH AND MARGIN	PL	79.57%	85.95%	81.27%	77.49%	70.04%	69.02%	80%	68.95%	61.84%	65.33%	70.9%	80.39%	83.01%	76.57%	71.52%	71.1%	71.29%	73.58%	80.17%	76.75%	79.34%	76.18%	75.88%	81.45%	73.52%	76.22%
EBITDA	GROWTH AND MARGIN	PL	25,230.3776	-629.3483	9,527.9225	30,847.5426	53,724.5274	67,693.0978	36,214.5416	84,497.6362	109,642.3162	85,062.5198	58,815.8008	22,823.5671	13,059.5753	41,106.9245	63,887.0674	66,667.512	70,156.7818	58,483.8312	32,664.0689	43,498.194	32,115.5792	46,094.2752	47,462.7371	23,398.6989	583,450.5013	538,595.2457
Net revenue per head, annualised	GROWTH AND MARGIN	People	89,933.9803	83,202.8979	88,726.9604	94,012.2766	104,564.9191	115,574.4089	112,905.6395	119,087.7817	120,803.4478	111,760.3138	102,613.8909	90,504.0591	91,722.6332	99,442.4895	106,362.1453	107,749.5022	107,459.6871	104,112.6045	101,364.0161	99,815.6476	96,551.8153	100,560.0436	100,952.4341	94,052.3515	102,807.548	100,845.4475
Utilisation of productive hours (own staff)	UTILISATION AND REALISATION	Utilisation	62.46%	60.78%	59.53%	65.44%	74.32%	82.5%	85.66%	82.35%	75.45%	66.54%	64.59%	72.94%	60.25%	67.27%	65.36%	70.62%	70.28%	74.23%	83.86%	72.85%	60.68%	60.38%	64.4%	75.42%	70.38%	68.17%
Realisation (fee revenue / standard value)	UTILISATION AND REALISATION	Utilisation	85.23%	84.44%	84.84%	85.58%	84.41%	84.16%	84.09%	85.56%	88.78%	90.94%	92.58%	90.44%	85.49%	86.34%	87.66%	88.72%	88.91%	88.78%	88.37%	88.04%	88.01%	88.69%	90.09%	89.42%	86.75%	88.23%
Effective fee per hour (EUR)	UTILISATION AND REALISATION	Utilisation	90.8917	89.9634	90.5066	91.5448	90.3662	90.0317	89.9208	91.5636	95.0413	97.5062	99.1588	96.6839	95.2421	96.2707	97.8057	98.9498	99.1556	98.8739	98.3634	98.0075	97.9616	98.7892	100.322	99.4433	92.7684	98.291
Retainer overservicing %	UTILISATION AND REALISATION	Retainers	15.31%	12.78%	13.98%	12.74%	12.94%	11.05%	12.65%	12.09%	8.85%	8.45%	8.45%	8.45%	8.36%	8.36%	8.43%	8.46%	8.46%	8.56%	8.6%	8.6%	8.6%	8.64%	8.64%	8.64%	11.4%	8.53%
Freelancer share of billable hours	UTILISATION AND REALISATION	Utilisation	0.01%	0.01%	0.01%	0.01%	0.01%	7.95%	20.23%	10.06%	2.03%	0%	0%	0%	0%	0%	0%	0%	0%	0%	6.3%	0%	0%	0%	0%	0%	3.81%	0.53%
Headcount	UTILISATION AND REALISATION	People	38	38	38	39	37	37	38	38	38	39	40	40	40.45	40.45	40.85	41.85	41.85	41.85	41.85	41.85	41.85	41.85	41.85	41.85	40	41.85
Retainer share of fee revenue	CLIENTS AND NEW BUSINESS		58.49%	63.14%	59.23%	61.98%	58.69%	57.02%	57.18%	54.24%	53.42%	52.63%	55.88%	63.23%	63.37%	58.45%	54.83%	53.32%	53.46%	57%	58%	58.89%	60.89%	58.17%	57.94%	62.19%	57.59%	57.89%
Largest client share of net revenue	CLIENTS AND NEW BUSINESS	Clients	26.41%	24.78%	20.68%	15.85%	15.03%	13.63%	16.36%	19.74%	20.49%	20.27%	17.35%	16.25%	16.49%	15.21%	16.68%	19.11%	19.16%	16.63%	20.31%	20.63%	17.93%	20.48%	20.4%	18.41%	18.9%	18.45%
Active retainers (weighted)	CLIENTS AND NEW BUSINESS	Retainers	9	9	9	10	10	11	11	11	11	10	10	10	10.25	10.25	10.4	10.6	10.6	10.8	10.6	10.6	10.6	10.5	10.5	10.5	10.0833	10.5167
Share of fee revenue not yet won	CLIENTS AND NEW BUSINESS	Pipeline	0%	0%	0%	0%	0%	0%	0%	0%	0%	2.12%	6.44%	9.84%	16.59%	23.64%	28.18%	32.03%	31.85%	31.44%	33.25%	29.72%	24.64%	26.92%	26.81%	25.3%	1.51%	27.74%
Signed project fees still to earn	CLIENTS AND NEW BUSINESS	Pipeline	74,720.8136	203,419.2598	319,901.796	266,042.8103	302,799.593	276,919.8899	275,084.0736	164,561.4833	155,219.2191	66,980.1415	16,169.3687	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days	WORKING CAPITAL, FX AND CASH	Receivables	36.5025	30.1891	34.2928	40.222	34.023	38.7409	37.7131	32.4522	39.2094	41.6963	36.9258	34.3961	36.0225	31.9193	37.161	40.1445	35.2973	35.0038	36.5127	33.813	35.485	39.0763	36.0403	35.2496	34.3961	35.2496
Contract assets (unbilled work)	WORKING CAPITAL, FX AND CASH	BS	56,471.5504	71,124.6723	75,450.8687	36,916.5417	66,622.8948	38,781.8119	79,499.3444	137,974.4649	116,118.7531	104,947.8793	71,110.9436	44,314.0472	62,090.3906	59,804.9207	65,785.2864	58,146.846	65,965.1013	56,817.7897	71,699.2381	53,817.1052	50,198.8134	52,105.0974	58,900.5293	38,761.1091	44,314.0472	38,761.1091
Contract liabilities (invoiced in advance)	WORKING CAPITAL, FX AND CASH	BS	68,030.4779	80,699.323	71,738.6281	88,889.4266	55,026.4496	45,288.2198	89,828.5441	33,513.5438	20,016.2606	74,070.8376	49,100.0168	2,810.6755	107,011.0876	60,930.6647	30,710.8862	66,353.8725	42,882.4217	10,608	64,785.354	32,392.677	10,608	62,737.354	31,368.677	10,608	2,810.6755	10,608
Media platform payables	WORKING CAPITAL, FX AND CASH	BS	194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	233,829.2973	257,212.227	315,669.5513	280,595.1567	197,819.9027	197,819.9027	216,817.8324	221,807.6646	221,807.6646	210,717.2813	181,939.4124	192,641.7308	214,046.3676	231,051.0043	283,562.5962	252,055.6411	280,595.1567	252,055.6411
FX gains / (losses) on client balances	WORKING CAPITAL, FX AND CASH	PL	-800.6979	-1,448.5772	6,340.4465	-2,443.0889	794.5139	7,283.5668	-524.2913	-2,859.0624	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,342.8096	0
Share of revenue invoiced in GBP and USD	WORKING CAPITAL, FX AND CASH	FX	65.11%	64.61%	64.79%	67.09%	67.11%	67.19%	68.8%	68.48%	69.49%	72.41%	69.93%	67.03%	63.86%	60.41%	59.74%	56.01%	55.32%	57.58%	55%	54.52%	56.11%	54.54%	54.54%	56.26%	67.9%	56.91%
Cash at bank	WORKING CAPITAL, FX AND CASH	BS	492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	339,326.2395	420,682.1088	567,960.4875	612,534.283	640,194.1607	794,311.6488	644,595.941	637,777.3006	748,210.6121	566,846.1796	562,787.4479	664,145.7304	682,973.5728	712,826.7226	810,264.2607	803,759.8606	612,534.283	803,759.8606
Cash headroom over the minimum buffer	WORKING CAPITAL, FX AND CASH		142,554.9305	325,877.6302	229,312.2071	170,521.0509	250,557.8301	-77,512.5247	-71,836.015	17,888.0493	-10,673.7605	70,682.1088	217,960.4875	262,534.283	290,194.1607	444,311.6488	294,595.941	287,777.3006	398,210.6121	216,846.1796	212,787.4479	314,145.7304	332,973.5728	362,826.7226	460,264.2607	453,759.8606	262,534.283	453,759.8606
Operating cash flow, trailing three months	WORKING CAPITAL, FX AND CASH	CF	12,154.9305	199,877.6302	109,412.2071	46,666.1205	-57,119.8001	-9,324.7318	54,742.934	65,130.2192	85,038.7642	161,318.1238	222,672.4382	295,808.0436	240,808.052	245,173.1613	88,049.658	55,001.1399	11,316.9633	156,867.3807	157,027.2895	147,952.2604	133,905.3932	167,817.2747	163,896.5304	138,564.2878

client register
Code	Client (fictional)	Country	Invoice currency	VAT class (EE = Estonian VAT, EU = EU reverse charge, XX = outside the EU)	VAT rate on invoices	Client since	Sector	Days to collect (from month-end invoicing)	Days to collect incl. scenario slip	T&M base hours per month	T&M rate FY2026 (invoice currency per hour)	T&M write-off, base	T&M from (month)	T&M write-off, YTD actual	T&M write-off, forecast	Media spend base per month (invoice currency)	Media management fee %	Media management hours per month	Opening receivable 31-Dec-25 (invoice currency, incl. VAT)	Opening contract position 31-Dec-25 (+ unbilled / - deferred)	Closing rate 31-Dec-25	Opening receivable (EUR)	Opening contract position (EUR)
HAL	Halvergate Money Ltd	United Kingdom	GBP	XX	0	2,021	Consumer fintech app	35	35	0	0	0		n/a	0	0	0%	0	53,779.03	19,551	0.8726	61,630.793	22,405.455
THV	Thornbury & Vale Home Ltd	United Kingdom	GBP	XX	0	2,022	Homeware brand, direct to consumer	30	30	0	0	0		n/a	0	55,000	10%	60	68,453.78	0	0.8726	78,448.0633	0
PEL	Pellworth Health Ltd	United Kingdom	GBP	XX	0	2,026	Digital health	30	30	0	0	0		n/a	0	0	0%	0	0	0	0.8726	0	0
ASH	Ashgrove Mobility Ltd	United Kingdom	GBP	XX	0	2,024	Mobility software	45	45	220	88	0.09	2023-06-30	0.0851	0.0851	0	0%	0	27,412.16	14,195.39	0.8726	31,414.3479	16,267.9234
TWL	Tidewell Learning Ltd	United Kingdom	GBP	XX	0	2,025	Education technology	30	30	60	85	0.05	2026-10-31	n/a	0.05	0	0%	0	0	0	0.8726	0	0
RVM	Ravenmoor Travel Ltd	United Kingdom	GBP	XX	0	2,024	Travel booking app	30	30	0	0	0		n/a	0	0	0%	0	19,473.86	22,252.8	0.8726	22,317.0525	25,501.719
MAR	Marlowe Street Coffee Roasters Ltd	United Kingdom	GBP	XX	0	2,026	Specialty coffee	30	30	0	0	0		n/a	0	0	0%	0	0	0	0.8726	0	0
QFS	Quillfield Software Inc.	United States	USD	XX	0	2,026	B2B software	45	45	0	0	0		n/a	0	0	0%	0	0	0	1.175	0	0
HOC	Harrowgate Outdoor Co.	United States	USD	XX	0	2,023	Outdoor equipment brand	60	60	0	0	0		n/a	0	90,000	9%	70	253,672.25	0	1.175	215,891.2766	0
NOR	Norbeck Analytics Inc.	United States	USD	XX	0	2,025	Data analytics software	45	45	0	0	0		n/a	0	0	0%	0	0	0	1.175	0	0
VOL	Voltaro Energie GmbH	Germany	EUR	EU	0	2,023	Energy technology	30	30	0	0	0		n/a	0	0	0%	0	18,099.2	0	1	18,099.2	0
LIN	Lindgrove Retail B.V.	Netherlands	EUR	EU	0	2,024	Fashion retail	30	30	0	0	0		n/a	0	40,000	10%	45	47,504.47	0	1	47,504.47	0
VDH	Veldhaven Fietsen B.V.	Netherlands	EUR	EU	0	2,025	Electric bikes, direct to consumer	30	30	0	0	0		n/a	0	30,000	10%	40	52,537.45	0	1	52,537.45	0
VLM	Van Lienden Mobiliteit B.V.	Netherlands	EUR	EU	0	2,026	Electric mobility	30	30	0	0	0		n/a	0	0	0%	0	0	0	1	0	0
SRV	Sarvivaara Oy	Finland	EUR	EU	0	2,022	Outdoor clothing	21	21	0	0	0		n/a	0	0	0%	0	10,042.96	0	1	10,042.96	0
CAR	Carrigmore Foods DAC	Ireland	EUR	EU	0	2,025	Food brand	30	30	90	98	0.06	2026-03-31	0.0566	0.0566	0	0%	0	0	7,107.89	1	0	7,107.89
TAM	Tammevalla Kodu OÜ	Estonia	EUR	EE	0.24	2,020	Furniture retail	14	14	0	0	0		n/a	0	22,000	12%	30	22,509.09	0	1	22,509.09	0
OTH	Other Estonian clients (11 smaller accounts)	Estonia	EUR	EE	0.24	2,019	Various	20	20	120	92	0.12	2020-12-31	0.1315	0.1315	0	0%	0	7,556.06	7,861.33	1	7,556.06	7,861.33
FER	Ferncliff Robotics Inc.	United States	USD	XX	0		Warehouse robotics (prospect)	45	45	0	0	0		n/a	0	0	0%	0	0	0	1.175	0	0
BRK	Brackenholt Insurance Ltd	United Kingdom	GBP	XX	0		Insurance (prospect)	45	45	0	0	0		n/a	0	0	0%	0	0	0	0.8726	0	0
AUR	Aurelwyn Hotels B.V.	Netherlands	EUR	EU	0		Boutique hotels (prospect)	30	30	0	0	0		n/a	0	0	0%	0	0	0	1	0	0
NEW	New clients not yet identified (FY2027 run-rate)	United Kingdom and EU	EUR	EU	0		Various: sized on the FY2026 win rate	30	30	0	0	0		n/a	0	0	0%	0	0	0	1	0	0

retainer contracts
Contract	Client	Type (rb = brand and content, rp = performance, rd = product design and development)	Currency	Status	Term	Monthly fee (invoice currency)	Scoped hours per month	Start (month)	Current term ends (month)	Renewal or win % Base	Renewal or win % Downside	Renewal or win % Upside	Renewal or win % selected	Billing (M = monthly, Q = quarterly, in advance)	Start month no.	Term end month no.	Overservicing YTD (hours worked / scoped - 1)	Overservicing forecast	Monthly fee at the last actual average rate (EUR)
R-HAL	HAL	rd	GBP	Active	Annual, renews 31-Dec	42,000	430	2023-06-30	2026-12-31	100%	0%	100%	100%	M	-30	12	0.1521	0.1065	49,059.1162
R-THV	THV	rb	GBP	Active	Annual, renews 31-Mar	15,000	180	2022-08-31	2027-03-31	90%	80%	95%	90%	Q	-40	15	0.099	0.0693	17,521.1129
R-RVM	RVM	rd	GBP	Active	Annual, renews 30-Jun	18,000	190	2024-06-30	2027-06-30	90%	80%	95%	90%	M	-18	18	0.0941	0.0659	21,025.3355
R-PEL	PEL	rb	GBP	Active	12 months from Jun-26	11,500	140	2026-06-30	2027-05-31	85%	75%	90%	85%	M	6	17	0.066	0.0462	13,432.8533
R-QFS	QFS	rd	USD	Active	12 months from Apr-26	26,000	215	2026-04-30	2027-03-31	90%	75%	95%	90%	M	4	15	0.1411	0.0988	22,529.3531
R-HOC	HOC	rp	USD	Active	Annual, renews 30-Jun	11,000	95	2023-11-30	2027-06-30	90%	80%	95%	90%	M	-25	18	0.0736	0.0515	9,531.6494
R-VOL	VOL	rb	EUR	Active	Annual, renews 31-Dec	18,500	190	2023-06-30	2026-12-31	85%	60%	90%	85%	M	-30	12	0.2635	0.1844	18,500
R-LIN	LIN	rp	EUR	Active	Annual, renews 30-Sep	16,000	165	2024-04-30	2027-09-30	90%	80%	95%	90%	Q	-20	21	0.0498	0.0348	16,000
R-VDH	VDH	rp	EUR	Active	Annual, renews 28-Feb	14,000	145	2024-10-31	2027-02-28	85%	75%	90%	85%	M	-14	14	0.0769	0.0538	14,000
R-SRV	SRV	rb	EUR	Ending	Notice received Jun-26, ends 30-Sep-26	13,500	140	2022-03-31	2026-09-30	0%	0%	0%	0%	M	-45	9	0.2008	0.1406	13,500
R-TAM	TAM	rp	EUR	Active	Annual, renews 31-Dec	9,000	95	2020-12-31	2026-12-31	95%	85%	95%	95%	M	-60	12	0.0597	0.0418	9,000
R-FER	FER	rd	USD	Pipeline	Proposal: 12 months from Jan-27	15,000	130	2027-01-31		45%	25%	60%	45%	M	13	999	n/a	0.1	12,997.7037
R-HAL2	HAL	rp	GBP	Pipeline	Proposal: growth marketing pod from Mar-27	12,000	125	2027-03-31		30%	0%	80%	30%	M	15	999	n/a	0.1	14,016.8904
R-AUR	AUR	rb	EUR	Pipeline	Proposal: follows the website project	11,000	110	2027-04-30		40%	25%	55%	40%	M	16	999	n/a	0.1	11,000
R-BRK	BRK	rb	GBP	Pipeline	Proposal: follows the portal project	20,000	210	2027-06-30		35%	20%	50%	35%	M	18	999	n/a	0.1	23,361.4839

project register
Code	Client	Project	Currency	Status at last actual	Start (month)	Planned completion (month)	Fee incl. approved change requests (invoice currency)	Budget hours	Third-party production budget (EUR)	Mark-up on production recharged	Win % Base	Win % Downside	Win % Upside	Win % selected	Opening hours to date	Opening fee revenue to date	Opening fee invoiced to date	Start month no. (effective)	Completion month no. (effective)	Interim milestone month no.	Fee, probability-weighted	Hours to date at last actual	Estimate to complete at last actual (hours)	Forecast hours at completion	Programme position at last actual	S-curve share at last actual	Production cost to date at last actual	Production cost remaining (weighted)	Fee per hour at completion (invoice currency)	Fee per hour at budget (invoice currency)
P-2505	CAR	Ecommerce website rebuild	EUR	Completed	2025-08-31	2026-02-28	74,000	760	0	0	100%	100%	100%	100%	605	58,907.89	51,800	-4	2	-1	74,000	790	0	790	1	1	0	0	93.6709	97.3684
P-2506	RVM	Booking app redesign	GBP	Completed	2025-09-30	2026-04-30	120,000	1,250	0	0	100%	100%	100%	100%	606.8	58,252.8	36,000	-3	4	1	120,000	1,300	0	1,300	1	1	0	0	92.3077	96
P-2507	HAL	Web platform rebuild	GBP	Completed	2025-10-31	2026-03-31	95,000	1,000	0	0	100%	100%	100%	100%	505.8	48,051	28,500	-2	3	1	95,000	1,000	0	1,000	1	1	0	0	95	95
P-2601	NOR	Marketing website and design system rebuild	USD	In progress	2026-02-28	2026-10-31	226,500	2,300	0	0	100%	100%	100%	100%	0	0	0	2	10	6	226,500	2,487.3	462.7	2,950	0.7778	0.8738	0	0	76.7797	98.4783
P-2602	TWL	Learning platform UX and front-end build	GBP	In progress	2026-03-31	2026-09-30	145,000	1,450	0	0	100%	100%	100%	100%	0	0	0	3	9	6	145,000	1,409.6	90.4	1,500	0.8571	0.9446	0	0	96.6667	100
P-2603	VLM	Brand identity and website	EUR	In progress	2026-05-31	2026-10-31	96,000	960	0	0	100%	100%	100%	100%	0	0	0	5	10	8	96,000	721.6	268.4	990	0.6667	0.7407	0	0	96.9697	100
P-2604	MAR	Packaging range and ecommerce site	GBP	In progress	2026-06-30	2026-11-30	56,000	560	14,000	0.15	100%	100%	100%	100%	0	0	0	6	11	9	56,000	275.4	284.6	560	0.5	0.5	9,800	4,200	100	100
P-2605	HAL	App onboarding redesign	GBP	In progress	2026-07-31	2026-11-30	85,000	800	0	0	100%	100%	100%	100%	0	0	0	7	11	9	85,000	281.9	518.1	800	0.4	0.352	0	0	106.25	106.25
P-2606	QFS	Product launch campaign (incl. video production)	USD	Contracted	2026-09-30	2026-12-31	120,000	950	30,000	0.12	100%	100%	100%	100%	0	0	0	9	12	11	120,000	0	950	950	0	0	0	30,000	126.3158	126.3158
PL-01	BRK	Customer portal redesign	GBP	Pipeline	2027-02-28	2027-08-31	240,000	2,300	0	0	40%	25%	55%	40%	0	0	0	14	20	17	96,000	0	920	920	0	0	0	0	104.3478	104.3478
PL-02	FER	Brand and website	USD	Pipeline	2026-11-30	2027-04-30	160,000	1,500	0	0	50%	30%	65%	50%	0	0	0	11	16	14	80,000	0	750	750	0	0	0	0	106.6667	106.6667
PL-03	VOL	Product launch campaign	EUR	Pipeline	2026-10-31	2027-01-31	70,000	700	0	0	70%	50%	80%	70%	0	0	0	10	13	12	49,000	0	490	490	0	0	0	0	100	100
PL-04	AUR	Booking website	EUR	Pipeline	2027-03-31	2027-08-31	110,000	1,100	0	0	35%	20%	45%	35%	0	0	0	15	20	18	38,500	0	385	385	0	0	0	0	100	100
NW-1	NEW	New project wins not yet identified, Q1-27 starts (run-rate)	EUR	Pipeline	2027-01-31	2027-05-31	240,000	2,300	0	0	85%	70%	100%	85%	0	0	0	13	17	15	204,000	0	1,955	1,955	0	0	0	0	104.3478	104.3478
NW-2	NEW	New project wins not yet identified, Q2-27 starts (run-rate)	EUR	Pipeline	2027-04-30	2027-08-31	240,000	2,300	0	0	85%	70%	100%	85%	0	0	0	16	20	18	204,000	0	1,955	1,955	0	0	0	0	104.3478	104.3478
NW-3	NEW	New project wins not yet identified, Q3-27 starts (run-rate)	EUR	Pipeline	2027-07-31	2027-11-30	240,000	2,300	0	0	85%	70%	100%	85%	0	0	0	19	23	21	204,000	0	1,955	1,955	0	0	0	0	104.3478	104.3478
NW-4	NEW	New project wins not yet identified, Q4-27 starts (run-rate)	EUR	Pipeline	2027-10-31	2028-02-29	240,000	2,300	0	0	85%	70%	100%	85%	0	0	0	22	26	24	204,000	0	1,955	1,955	0	0	0	0	104.3478	104.3478

client profitability
Client	Currency	Status	Net revenue YTD	Net revenue FY2026	Share of net revenue	Hours FY2026	Standard value FY2026	Realisation	Delivery cost at standard	Contribution	Contribution %	Retainer overservice hours	Share of delivery variance	Share of operating costs	Net contribution	Net margin	Net revenue FY2027	Receivable at last actual (EUR)	Debtor days at last actual
Halvergate Money Ltd	GBP	Active	476,986.7984	737,410.9998	0.1873	7,160.655	788,728.6875	0.9349	385,708.8555	351,702.1443	47.69%	706.455	-35,978.8691	-183,612.2224	132,111.0527	0.1792	654,025.7799	60,375.5137	31.1286
Thornbury & Vale Home Ltd	GBP	Active	188,094.4376	288,009.205	0.0731	3,072.375	316,116.0563	0.9111	143,541.0141	144,468.1908	50.16%	192.375	-15,437.216	-71,713.0748	57,317.9	0.199	271,130.0906	69,053.393	24.7448
Pellworth Health Ltd	GBP	Active	40,126.8977	93,835.0987	0.0238	1,033.5533	105,990.8943	0.8853	48,084.6214	45,750.4774	48.76%	53.5533	-5,193.1115	-23,364.543	17,192.8228	0.1832	150,221.8382	14,792.0325	33.4904
Ashgrove Mobility Ltd	GBP	Active	161,070.2232	246,170.0436	0.0625	2,637.7165	290,148.8101	0.8484	145,231.8789	100,938.1647	41%	0	-13,253.2646	-61,295.3005	26,389.5997	0.1072	258,086.623	28,307.5845	46.3328
Tidewell Learning Ltd	GBP	Active	157,777.3869	185,087.7185	0.047	1,681.4499	182,784.4937	1.0126	89,365.2355	95,722.483	51.72%	0	-8,448.4824	-46,086.0597	41,187.941	0.2225	70,597.7956	0	0
Ravenmoor Travel Ltd	GBP	Active	237,268.8787	321,333.889	0.0816	3,166.385	348,533.8025	0.922	170,417.4029	150,916.4861	46.97%	193.185	-15,909.5713	-80,010.7803	54,996.1344	0.1711	244,124.7898	20,668.4102	29.8968
Marlowe Street Coffee Roasters Ltd	GBP	Active	33,553.7225	67,412.753	0.0171	560	60,788	1.109	29,633.2049	37,779.5481	56.04%	0	-2,813.7324	-16,785.4906	18,180.3251	0.2697	0	6,104.8838	18.0211
Quillfield Software Inc.	USD	Active	112,516.439	309,286.4976	0.0785	3,121.652	343,090.046	0.9015	167,701.1604	141,585.3372	45.78%	236.652	-15,684.8094	-77,011.0308	48,889.497	0.1581	256,143.4978	31,837.6854	43.1668
Harrowgate Outdoor Co.	USD	Active	127,302.7377	197,727.8843	0.0502	2,055.465	212,309.802	0.9313	96,510.8716	101,217.0126	51.19%	75.465	-10,327.7293	-49,233.4075	41,655.8758	0.2107	189,541.2211	195,607.2008	63.9795
Norbeck Analytics Inc.	USD	Active	164,949.0481	195,585.4314	0.0497	2,950	320,222.5	0.6108	156,103.49	39,481.9414	20.19%	0	-14,822.3401	-48,699.9458	-24,040.3446	-0.1229	0	14,229.0445	22.2933
Voltaro Energie GmbH	EUR	Active	148,000	263,343.75	0.0669	3,234.1125	334,138.8619	0.7881	153,105.5937	110,238.1563	41.86%	540.675	-16,249.8697	-65,571.4808	28,416.8059	0.1079	203,904.25	19,171.34	31.5032
Lindgrove Retail B.V.	EUR	Active	158,048.9	240,648.9	0.0611	2,608.695	268,821.846	0.8952	122,123.9605	118,524.9395	49.25%	88.695	-13,107.4456	-59,920.559	45,496.9349	0.1891	235,468	31,062.21	16.6882
Veldhaven Fietsen B.V.	EUR	Active	134,349.79	204,299.79	0.0519	2,340.42	241,171.176	0.8471	109,561.8006	94,737.9894	46.37%	120.42	-11,759.492	-50,869.7843	32,108.7132	0.1572	183,125	37,007.38	26.0552
Van Lienden Mobiliteit B.V.	EUR	Active	69,973.33	96,000	0.0244	990	107,464.5	0.8933	52,387.2729	43,612.7271	45.43%	0	-4,974.2769	-23,903.5943	14,734.856	0.1535	0	35,674.26	84.7264
Sarvivaara Oy	EUR	Ending	108,000	121,500	0.0309	1,504.5787	154,294.5508	0.7875	69,998.4192	51,501.5808	42.39%	244.5788	-7,559.7891	-30,252.9865	13,688.8051	0.1127	0	10,590.69	23.8487
Carrigmore Foods DAC	EUR	Active	64,007.71	98,247.4034	0.025	1,084.4567	119,021.9905	0.8255	59,313.3594	38,934.0439	39.63%	0	-5,448.8768	-24,463.1882	9,021.9789	0.0918	103,840.4875	5,867.45	22.7698
Tammevalla Kodu OÜ	EUR	Active	91,544.86	139,820.86	0.0355	1,561.29	160,932.612	0.8688	73,115.9299	66,704.9301	47.71%	61.29	-7,844.7361	-34,814.8032	24,045.3908	0.172	136,800	19,726.5996	14.7838
Other Estonian clients (11 smaller accounts)	EUR	Active	74,612.99	114,069.5805	0.029	1,427.609	157,036.9873	0.7264	78,603.7231	35,465.8574	31.09%	0	-7,173.0528	-28,402.8434	-110.0389	-0.001	119,662.0409	6,973.4732	19.0507
Ferncliff Robotics Inc.	USD	Prospect	0	17,886.1165	0.0045	194.4444	21,106.9444	0.8474	10,289.3072	7,596.8093	42.47%	0	-976.9904	-4,453.5674	2,166.2515	0.1211	120,954.8631	0	0
Brackenholt Insurance Ltd	GBP	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	169,297.5901	0	0
Aurelwyn Hotels B.V.	EUR	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	78,100	0	0
New clients not yet identified (FY2027 run-rate)	EUR	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	744,192	0	0
TOTAL			2,548,184.1498	3,937,675.9212	1	42,384.8581	4,532,702.5614	0.8687	2,160,797.1018	1,776,878.8194	45.13%	2,513.3441	-212,963.6555	-980,464.6626	583,450.5013	0.1482	4,189,215.8677	607,049.1513

concentration
Measure	Value
Largest client share of net revenue, FY2026	0.1873
Top five clients share of net revenue, FY2026	0.4874
Largest client share of net revenue, FY2027	0.1776

pipeline / opportunities
Opportunity	Client	Description	Value (EUR at the last actual rate)	Win % Base	Win % Downside	Win % Upside	Win % selected	Weighted value	Start
PL-01	BRK	Customer portal redesign	280,337.8071	40%	25%	55%	40%	112,135.1228	2027-02-28
PL-02	FER	Brand and website	138,642.1732	50%	30%	65%	50%	69,321.0866	2026-11-30
PL-03	VOL	Product launch campaign	70,000	70%	50%	80%	70%	49,000	2026-10-31
PL-04	AUR	Booking website	110,000	35%	20%	45%	35%	38,500	2027-03-31
NW-1	NEW	New project wins not yet identified, Q1-27 starts (run-rate)	240,000	85%	70%	100%	85%	204,000	2027-01-31
NW-2	NEW	New project wins not yet identified, Q2-27 starts (run-rate)	240,000	85%	70%	100%	85%	204,000	2027-04-30
NW-3	NEW	New project wins not yet identified, Q3-27 starts (run-rate)	240,000	85%	70%	100%	85%	204,000	2027-07-31
NW-4	NEW	New project wins not yet identified, Q4-27 starts (run-rate)	240,000	85%	70%	100%	85%	204,000	2027-10-31
R-FER	FER	Retainer: Proposal: 12 months from Jan-27	155,972.4449	45%	25%	60%	45%	70,187.6002	2027-01-31
R-HAL2	HAL	Retainer: Proposal: growth marketing pod from Mar-27	168,202.6842	30%	0%	80%	30%	50,460.8053	2027-03-31
R-AUR	AUR	Retainer: Proposal: follows the website project	132,000	40%	25%	55%	40%	52,800	2027-04-30
R-BRK	BRK	Retainer: Proposal: follows the portal project	280,337.8071	35%	20%	50%	35%	98,118.2325	2027-06-30
TOTAL			2,295,492.9164					1,356,522.8474

pipeline / renewal calendar
Contract	Client	Term	Annual fees (EUR at the last actual rate)	Term ends	Renewal % selected	Expected retained value	Value at risk	Overservicing YTD
R-SRV	SRV	Notice received Jun-26, ends 30-Sep-26	162,000	2026-09-30	0%	0	162,000	0.2008
R-HAL	HAL	Annual, renews 31-Dec	588,709.3948	2026-12-31	100%	588,709.3948	0	0.1521
R-VOL	VOL	Annual, renews 31-Dec	222,000	2026-12-31	85%	188,700	33,300	0.2635
R-TAM	TAM	Annual, renews 31-Dec	108,000	2026-12-31	95%	102,600	5,400	0.0597
R-VDH	VDH	Annual, renews 28-Feb	168,000	2027-02-28	85%	142,800	25,200	0.0769
R-THV	THV	Annual, renews 31-Mar	210,253.3553	2027-03-31	90%	189,228.0198	21,025.3355	0.099
R-QFS	QFS	12 months from Apr-26	270,352.2378	2027-03-31	90%	243,317.014	27,035.2238	0.1411
R-PEL	PEL	12 months from Jun-26	161,194.2391	2027-05-31	85%	137,015.1032	24,179.1359	0.066
R-RVM	RVM	Annual, renews 30-Jun	252,304.0264	2027-06-30	90%	227,073.6237	25,230.4026	0.0941
R-HOC	HOC	Annual, renews 30-Jun	114,379.7929	2027-06-30	90%	102,941.8136	11,437.9793	0.0736
R-LIN	LIN	Annual, renews 30-Sep	192,000	2027-09-30	90%	172,800	19,200	0.0498
TOTAL			2,449,193.0462			2,095,184.9691	354,008.0771

pipeline / new business
Measure	Value
Proposals submitted	19
Value proposed (EUR)	3,520,000
Won (count)	8
Won (EUR)	1,155,000
Lost (count)	8
Lost (EUR)	1,420,000
Still open (count)	3
Win rate on decided proposals (count)	0.5
Win rate on decided proposals (value)	0.4485
Average tenure of clients with active retainers (years)	2.6

Receivables & payables

Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

Receivables ageing
Measure	Value
as at	2026-08-31

Receivables ageing / items
Client (fictional)	Invoice / item	Currency	Group	Amount (currency)	Closing rate	Amount (EUR)	Due date	Days past due	Not yet due	1 to 30	31 to 60	Action / note
Halvergate Money Ltd	Retainer and onboarding project, invoices dated 31-Aug	GBP	GBP clients	32,060.46	0.8565	37,432.818	2026-10-05	0	37,432.818	0	0	35-day terms.
Halvergate Money Ltd	July invoices	GBP	GBP clients	19,649.96	0.8565	22,942.6957	2026-09-04	0	22,942.6957	0	0	Due 4-Sep; paid on 9-Sep per the bank.
Thornbury & Vale Home Ltd	August media and media management fee	GBP	GBP clients	44,357.14	0.8565	51,790.0476	2026-09-30	0	51,790.0476	0	0	Media billed at cost plus 10% management fee.
Thornbury & Vale Home Ltd	July media invoice, balance	GBP	GBP clients	14,785.71	0.8565	17,263.3453	2026-08-30	1	0	17,263.3453	0	Short-paid: client queried two campaign line items; resolved, balance due.
Pellworth Health Ltd	August retainer	GBP	GBP clients	12,669.08	0.8565	14,792.0325	2026-09-30	0	14,792.0325	0	0	Standard 30-day terms.
Ashgrove Mobility Ltd	August time and materials	GBP	GBP clients	13,334.68	0.8565	15,569.1668	2026-10-15	0	15,569.1668	0	0	45-day terms.
Ashgrove Mobility Ltd	July time and materials	GBP	GBP clients	10,910.2	0.8565	12,738.4177	2026-09-15	0	12,738.4177	0	0	45-day terms.
Ravenmoor Travel Ltd	August retainer	GBP	GBP clients	17,702.08	0.8565	20,668.4102	2026-09-30	0	20,668.4102	0	0	Standard 30-day terms.
Veldhaven Fietsen B.V.	August retainer, media and media management fee	EUR	EUR clients	37,007.38	1	37,007.38	2026-09-30	0	37,007.38	0	0	Reverse charge (EU B2B).
Marlowe Street Coffee Roasters Ltd	Deposit balance and August production recharges	GBP	GBP clients	5,228.71	0.8565	6,104.8828	2026-09-30	0	6,104.8828	0	0	Photography and print proofs recharged at cost plus 15%.
Quillfield Software Inc.	August retainer and campaign deposit	USD	USD clients	18,459.49	1.1596	15,918.8427	2026-10-15	0	15,918.8427	0	0	45-day terms; campaign deposit invoiced on signature.
Quillfield Software Inc.	July retainer	USD	USD clients	18,459.49	1.1596	15,918.8427	2026-09-14	0	15,918.8427	0	0	45-day terms.
Harrowgate Outdoor Co.	August media and fees	USD	USD clients	81,657.4	1.1596	70,418.5926	2026-10-30	0	70,418.5926	0	0	60-day terms on media: the agency funds the client media for two months.
Harrowgate Outdoor Co.	July media and fees	USD	USD clients	77,120.88	1.1596	66,506.4505	2026-09-29	0	66,506.4505	0	0	60-day terms.
Harrowgate Outdoor Co.	June media and fees	USD	USD clients	68,047.83	1.1596	58,682.1576	2026-08-29	2	0	58,682.1576	0	Overdue: client finance switched payment runs to monthly; chased weekly.
Norbeck Analytics Inc.	Change request CR-03 (additional page templates), invoiced 29-May	USD	USD clients	16,500	1.1596	14,229.0445	2026-07-13	49	0	0	14,229.0445	Disputed: client finance says CR-03 was inside the original scope. 50% provided in June. Settlement meeting set for October.
Voltaro Energie GmbH	August retainer	EUR	EUR clients	19,171.34	1	19,171.34	2026-09-30	0	19,171.34	0	0	Reverse charge (EU B2B).
Lindgrove Retail B.V.	August media and media management fee	EUR	EUR clients	31,062.21	1	31,062.21	2026-09-30	0	31,062.21	0	0	Reverse charge (EU B2B).
Van Lienden Mobiliteit B.V.	Interim milestone	EUR	EUR clients	35,674.26	1	35,674.26	2026-09-30	0	35,674.26	0	0	Reverse charge (EU B2B).
Sarvivaara Oy	August retainer	EUR	EUR clients	10,590.69	1	10,590.69	2026-09-21	0	10,590.69	0	0	Final month is September; notice received in June.
Carrigmore Foods DAC	August time and materials	EUR	EUR clients	5,867.45	1	5,867.45	2026-09-30	0	5,867.45	0	0	Reverse charge (EU B2B).
Tammevalla Kodu OÜ	August retainer, media and fees incl. 24% VAT	EUR	EUR clients	19,726.6	1	19,726.6	2026-09-14	0	19,726.6	0	0	Estonian client: 24% VAT.
Other Estonian clients (11 smaller accounts)	August invoices, 9 accounts	EUR	EUR clients	5,578.78	1	5,578.78	2026-09-20	0	5,578.78	0	0	Estonian clients: 24% VAT.
Other Estonian clients (11 smaller accounts)	July invoices, 3 accounts	EUR	EUR clients	1,394.7	1	1,394.7	2026-08-20	11	0	1,394.7	0	Chased; two promised in September.

Receivables ageing / totals
Value
TOTAL (EUR)





607,049.1574


515,479.9099
77,340.203
14,229.0445
0
0

Receivables ageing / tie outs
label	values
GBP clients: aging vs ledger	[null, null, null, 170698.02, null, 199301.8167, 199301.8178, 0]
USD clients: aging vs ledger	[null, null, null, 280245.09, null, 241673.9307, 241673.9307, 0]
EUR clients: aging vs ledger	[null, null, null, 166073.41, null, 166073.41, 166073.4028, 0]

Payables ageing
Measure	Value
as at	2026-08-31

Payables ageing / items
Counterparty (fictional)	Item / document	Group	Amount (EUR)	Due date	Not yet due	Action / note
Freelance motion designer (sole trader, Tallinn)	August invoice	Freelancers	5,556.36	2026-09-15	5,556.36	Freelancer payment run on the 15th and at month end.
Kelp & Ink OÜ (illustration)	August invoice	Freelancers	4,546.11	2026-09-15	4,546.11	Freelancer payment run on the 15th and at month end.
Northgrid Dev Collective (Poland)	August development hours, reverse charge	Freelancers	3,788.42	2026-09-20	3,788.42	Freelancer payment run on the 15th and at month end.
Freelance copywriter (sole trader, Tartu)	August invoice	Freelancers	3,030.74	2026-09-10	3,030.74	Freelancer payment run on the 15th and at month end.
Other freelancers (9 invoices)	August invoices	Freelancers	8,334.54	2026-09-20	8,334.54	Freelancer payment run on the 15th and at month end.
Social media advertising platform (Ireland)	August spend invoice, reverse charge	Media platforms	129,277.03	2026-09-30	129,277.03	Monthly invoice, 30 days. Client media funded before clients pay.
Search advertising platform (Ireland)	August spend invoice, reverse charge	Media platforms	105,772.12	2026-09-30	105,772.12	Monthly invoice, 30 days. Client media funded before clients pay.
Helkvalgus Stuudio OÜ (photography)	Packaging photography, August	Production suppliers	4,285.03	2026-09-30	4,285.03	Recharged to Marlowe Street at cost plus 15%.
Kaldvere Trükk OÜ (print proofs)	Print proofs, August	Production suppliers	2,626.31	2026-09-30	2,626.31	Recharged to Marlowe Street at cost plus 15%.
Veskimere Kinnisvara OÜ (landlord)	September rent, invoiced in advance	Overheads	7,727.66	2026-09-18	7,727.66
Software subscriptions (14 vendors)	August renewals	Overheads	5,454.82	2026-09-18	5,454.82
Travel agency and airlines	London and New York client visits	Overheads	3,636.55	2026-09-18	3,636.55
Sundry overhead suppliers (12 invoices)	Office, IT and professional fees	Overheads	5,909.4	2026-09-18	5,909.4

Payables ageing / totals
Value
TOTAL


289,945.09


289,945.09
0
0
0
0

Payables ageing / tie outs
label	values
Freelancers: aging vs schedule	[null, null, 25256.17, "Ledger balance", 25256.1655, "Difference", 0, null]
Media platforms: aging vs schedule	[null, null, 235049.15, "Ledger balance", 235049.1532, "Difference", 0, null]
Production suppliers: aging vs schedule	[null, null, 6911.34, "Ledger balance", 6911.34, "Difference", 0, null]
Overheads: aging vs schedule	[null, null, 22728.43, "Ledger balance", 22728.426, "Difference", 0, null]

TRADE RECEIVABLES, SPECIFIC PROVISION AND COLLECTIONS (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
EUR clients	RECEIVABLES BY INVOICE CURRENCY (EUR)	FX	180,833.5988	149,576.8344	133,915.0084	208,320.0968	194,481.1148	151,415.8996	189,035.7464	166,073.4028	153,123.1524	247,316.0544	179,303.6995	183,868.8306	250,048.6412	130,195.9661	225,374.0282	251,503.7613	202,570.4536	234,090.6821	236,331.1776	201,127.6989	221,337.165	252,151.3043	228,222.1424	235,042.8664	183,868.8306	235,042.8664
GBP clients	RECEIVABLES BY INVOICE CURRENCY (EUR)	FX	324,748.4646	172,070.5809	254,842.2144	291,635.6595	183,482.1789	264,594.1656	257,253.1201	199,301.8178	312,142.0019	264,315.944	278,221.4295	220,730.3988	239,235.0981	225,066.5029	220,961.6888	252,319.2701	247,353.9575	227,779.3772	248,654.7115	230,473.3867	222,626.144	267,291.1075	236,774.776	225,414.7428	220,730.3988	225,414.7428
USD clients	RECEIVABLES BY INVOICE CURRENCY (EUR)	FX	193,247.8731	198,739.1868	191,704.2529	194,476.8757	223,675.2491	316,774.39	257,694.4449	241,673.9307	282,534.693	337,765.031	368,584.0548	341,444.9724	249,999.0945	232,748.3615	227,410.3139	245,563.9876	238,728.0097	224,149.7068	203,662.0386	191,211.1935	202,631.942	217,859.6068	244,508.02	252,121.8524	341,444.9724	252,121.8524
TRADE RECEIVABLES, GROSS	RECEIVABLES BY INVOICE CURRENCY (EUR)		698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	732,784.4552	703,983.3115	607,049.1513	747,799.8473	849,397.0295	826,109.1839	746,044.2019	739,282.8338	588,010.8306	673,746.031	749,387.019	688,652.4208	686,019.7661	688,647.9277	622,812.2791	646,595.251	737,302.0186	709,504.9384	712,579.4615	746,044.2019	712,579.4615
Written off on settlement (EUR)	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)	FX	0	0	0	0	0	0	0	0	0	0	7,114.5222	0	0	0	0	0	0	0	0	0	0	0	0	0	7,114.5222	0
Charge / (release) to the P&L	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)	A: ledger; F: write-off less provision held	0	0	0	0	0	7,240.65	0	0	0	0	-126.1278	0	0	0	0	0	0	0	0	0	0	0	0	0	7,114.5222	0
Provision held	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)	opening + charge - written off	0	0	0	0	0	7,240.65	7,240.65	7,240.65	7,240.65	7,240.65	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
TRADE RECEIVABLES, NET (to balance sheet)	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)		698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	725,543.8052	696,742.6615	599,808.5013	740,559.1973	842,156.3795	826,109.1839	746,044.2019	739,282.8338	588,010.8306	673,746.031	749,387.019	688,652.4208	686,019.7661	688,647.9277	622,812.2791	646,595.251	737,302.0186	709,504.9384	712,579.4615	746,044.2019	712,579.4615
Invoiced incl. VAT (EUR at average rates)	INVOICED, COLLECTED AND DAYS		582,000.0902	466,043.0471	495,663.8385	612,860.2722	504,193.8857	607,994.9225	590,224.6249	507,765.1433	641,371.133	708,702.1058	690,265.7753	579,141.79	602,273.3971	498,649.9838	552,575.7806	651,228.2883	575,514.2325	560,632.5986	583,931.9624	535,279.165	542,603.7163	642,901.8265	609,898.326	590,829.2076	6,986,226.6284	6,946,318.4846
Collected (EUR)	INVOICED, COLLECTED AND DAYS	FX	450,108.2645	643,490.2843	442,682.5761	496,148.6874	597,758.2161	484,125.6903	618,579.1316	602,097.4437	500,620.4369	607,104.9237	706,439.0986	659,206.772	609,034.7651	649,921.9871	466,840.5802	575,587.3002	636,248.8308	563,265.2532	581,303.8008	601,114.8136	518,820.7443	552,195.059	637,695.4062	587,754.6845	6,808,361.5251	6,979,783.225
Debtor days (receivables / average monthly invoicing of the last three months x 30.4)	INVOICED, COLLECTED AND DAYS		36.5025	30.1891	34.2928	40.222	34.023	38.7409	37.7131	32.4522	39.2094	41.6963	36.9258	34.3961	36.0225	31.9193	37.161	40.1445	35.2973	35.0038	36.5127	33.813	35.485	39.0763	36.0403	35.2496	34.3961	35.2496
Disputed balance (EUR, memo)	INVOICED, COLLECTED AND DAYS	Clients	0	0	0	0	14,170.3882	14,481.306	14,366.5651	14,229.0445	14,229.0445	14,229.0445	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

TRADE PAYABLES BY SUPPLIER GROUP (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Invoices received (incl. VAT)	FREELANCERS		5,548.8617	6,489.6133	5,617.2192	7,159.631	5,710.1381	27,987.73	65,413.1379	35,594.1344	12,743.68	6,028	6,028	6,028	6,299.26	6,299.26	6,299.26	6,299.26	6,299.26	6,299.26	24,091.7902	6,299.26	6,299.26	6,299.26	6,299.26	6,299.26	190,348.1455	93,383.6502
Opening balance	FREELANCERS		21,400	3,639.1517	4,316.465	3,396.7242	4,501.8351	3,824.9532	20,329.9532	47,535.2511	25,256.1655	8,495.7866	4,018.6667	4,018.6667	4,018.6667	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,199.5067	16,061.1935	4,199.5067	4,199.5067	4,199.5067	4,199.5067
Paid	FREELANCERS	A: bank; F: opening + invoices - closing at days payable	23,309.71	5,812.3	6,536.96	6,054.52	6,387.02	11,482.73	38,207.84	57,873.22	29,504.0588	10,505.12	6,028	6,028	6,118.42	6,299.26	6,299.26	6,299.26	6,299.26	6,299.26	12,230.1034	18,160.9468	6,299.26	6,299.26	6,299.26	6,299.26	207,729.4788	93,202.8102
CLOSING BALANCE	FREELANCERS		3,639.1517	4,316.465	3,396.7242	4,501.8351	3,824.9532	20,329.9532	47,535.2511	25,256.1655	8,495.7866	4,018.6667	4,018.6667	4,018.6667	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,199.5067	16,061.1935	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,199.5067	4,018.6667	4,199.5067
Invoices received (incl. VAT)	MEDIA PLATFORMS (reverse charge)		197,458.8042	195,290.5747	219,059.5025	241,000.8898	234,907.7945	223,392.8507	214,762.2655	230,207.1313	233,829.2973	257,212.227	315,669.5513	280,595.1567	197,819.9027	197,819.9027	216,817.8324	221,807.6646	221,807.6646	210,717.2813	181,939.4124	192,641.7308	214,046.3676	231,051.0043	283,562.5962	252,055.6411	2,843,386.0455	2,622,087.0006
Opening balance	MEDIA PLATFORMS (reverse charge)		158,000	194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	233,829.2973	257,212.227	315,669.5513	280,595.1567	197,819.9027	197,819.9027	216,817.8324	221,807.6646	221,807.6646	210,717.2813	181,939.4124	192,641.7308	214,046.3676	231,051.0043	283,562.5962
Paid	MEDIA PLATFORMS (reverse charge)	A: bank; F: opening + invoices - closing at days payable	160,513.37	194,305.35	194,859.5	210,132.63	243,567.19	255,796.31	232,273.71	187,582.6	235,049.1532	233,829.2973	257,212.227	315,669.5513	280,595.1567	197,819.9027	197,819.9027	216,817.8324	221,807.6646	221,807.6646	210,717.2813	181,939.4124	192,641.7308	214,046.3676	231,051.0043	283,562.5962	2,720,790.8888	2,650,626.5163
CLOSING BALANCE	MEDIA PLATFORMS (reverse charge)		194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	233,829.2973	257,212.227	315,669.5513	280,595.1567	197,819.9027	197,819.9027	216,817.8324	221,807.6646	221,807.6646	210,717.2813	181,939.4124	192,641.7308	214,046.3676	231,051.0043	283,562.5962	252,055.6411	280,595.1567	252,055.6411
Invoices received (incl. VAT)	PRODUCTION SUPPLIERS (incl. 24% VAT)		0	0	0	0	0	0	5,208	6,944	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0	0	54,560	0
Opening balance	PRODUCTION SUPPLIERS (incl. 24% VAT)		0	0	0	0	0	0	0	5,191.28	6,911.34	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0
Paid	PRODUCTION SUPPLIERS (incl. 24% VAT)	A: bank; F: opening + invoices - closing at days payable	0	0	0	0	0	0	16.72	5,223.94	6,911.34	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0	48,747.5	5,812.5
CLOSING BALANCE	PRODUCTION SUPPLIERS (incl. 24% VAT)		0	0	0	0	0	0	5,191.28	6,911.34	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0	0	5,812.5	0
Invoices received (incl. VAT)	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)		38,093.864	43,256.144	49,862.704	43,541.56	49,112.036	40,907.06	41,309.124	37,772.784	41,858	47,438	47,438	41,858	45,624.74	43,113.74	45,345.74	48,693.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	522,447.276	527,687.88
Opening balance	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)		24,300	24,604.464	26,075.648	33,979.422	24,448.882	27,001.648	22,879.108	25,041.492	22,728.426	25,114.8	28,462.8	28,462.8	25,114.8	27,374.844	25,868.244	27,207.444	29,216.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244
Paid	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)	A: bank; F: opening + invoices - closing at days payable	37,789.4	41,784.96	41,958.93	53,072.1	46,559.27	45,029.6	39,146.74	40,085.85	39,471.626	44,090	47,438	45,206	43,364.696	44,620.34	44,006.54	46,684.94	46,461.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	521,632.476	526,934.436
CLOSING BALANCE	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)		24,604.464	26,075.648	33,979.422	24,448.882	27,001.648	22,879.108	25,041.492	22,728.426	25,114.8	28,462.8	28,462.8	25,114.8	27,374.844	25,868.244	27,207.444	29,216.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,114.8	25,868.244
TRADE PAYABLES (to balance sheet)	TOTALS		223,189.0499	226,322.7718	257,506.8076	279,949.6383	273,166.1269	253,145.1276	270,192.645	289,945.0847	275,759.9395	304,410.0826	361,710.0736	315,541.1234	229,394.2534	227,887.6534	248,224.7831	255,223.4152	251,875.4152	240,785.032	223,868.8499	222,709.4815	244,114.1182	261,118.755	313,630.3469	282,123.3917	315,541.1234	282,123.3917

13-week cash forecast

Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

CLOSING CASH · EUR

13-week cash forecast
Measure	2026-09-18	2026-09-25	2026-10-02	2026-10-09	2026-10-16	2026-10-23	2026-10-30	2026-11-06	2026-11-13	2026-11-20	2026-11-27	2026-12-04	2026-12-11
GBP clients (converted to EUR on receipt)	42,735.8011	42,735.8011	48,970.6419	64,557.7437	64,557.7437	64,557.7437	64,557.7437	58,195.1242	57,134.6877	57,134.6877	57,134.6877	57,180.2182	57,214.3661
USD clients (converted to EUR on receipt)	28,443.3757	28,443.3757	29,341.404	31,586.4748	31,586.4748	31,586.4748	31,586.4748	40,876.7275	42,425.1029	42,425.1029	42,425.1029	43,583.4243	44,452.1654
EUR clients	45,632.1946	45,632.1946	44,292.7076	40,943.9901	40,943.9901	40,943.9901	40,943.9901	61,799.9978	65,275.9991	65,275.9991	65,275.9991	54,939.2057	47,186.6106
VAT refund credited against the TSD payment (10th)	0	0	0	0	144.492	0	0	0	0	0	0	0	84.9809
TOTAL RECEIPTS	116,811.3715	116,811.3715	122,604.7535	137,088.2086	137,232.7006	137,088.2086	137,088.2086	160,871.8495	164,835.7897	164,835.7897	164,835.7897	155,702.8482	148,938.1229
Net salaries (last banking day)	0	0	-126,234.392	0	0	0	0	-130,072.8	0	0	0	-133,008.904	0
Net bonus (March only)	0	0	0	0	0	0	0	0	0	0	0	0	0
Payroll taxes, TSD (10th)	0	0	0	0	-87,979.408	0	0	0	-90,697.2	0	0	0	-92,711.696
Freelancers (runs on the 15th and at month end)	-6,884.3375	-6,884.3375	-5,595.1336	-2,372.1239	-2,372.1239	-2,372.1239	-2,372.1239	-1,544.4748	-1,406.5333	-1,406.5333	-1,406.5333	-1,380.6065	-1,361.1613
Media platforms (monthly invoices, 30 days)	0	-235,049.1532	0	0	0	0	-233,829.2973	0	0	0	-257,212.227	0	0
Production suppliers	-1,612.7042	-1,612.7042	-1,688.7094	-1,878.7222	-1,878.7222	-1,878.7222	-1,878.7222	-3,211.6667	-3,433.8241	-3,433.8241	-3,433.8241	-3,221.1944	-3,061.7222
Overhead suppliers (rent in advance, software, travel)	-9,210.0201	-9,210.0201	-9,423.1019	-9,955.8065	-9,955.8065	-9,955.8065	-9,955.8065	-10,909.8581	-11,068.8667	-11,068.8667	-11,068.8667	-10,576.8323	-10,207.8065
VAT, monthly return (20th)	0	0	0	0	0	-1,022.8655	0	0	0	0	0	0	0
Income tax on distributions (10th)	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan instalment (25th)	0	-3,392	0	0	0	0	-3,378	0	0	0	-3,364	0	0
Capex incl. VAT	-810.1579	-810.1579	-1,010.6842	-1,512	-1,512	-1,512	-1,512	-1,555.2	-1,562.4	-1,562.4	-1,562.4	-1,117.6	-784
Dividends	0	0	0	0	0	0	0	0	0	0	0	0	0
TOTAL PAYMENTS	-18,517.2197	-256,958.3729	-143,952.0211	-15,718.6525	-103,698.0605	-16,741.5181	-252,925.9498	-147,293.9996	-108,168.8241	-17,471.6241	-278,047.8511	-149,305.1372	-108,126.386
NET CASH FLOW FOR THE WEEK	98,294.1518	-140,147.0014	-21,347.2675	121,369.556	33,534.64	120,346.6905	-115,837.7413	13,577.85	56,666.9656	147,364.1656	-113,212.0614	6,397.711	40,811.737
Opening cash	437,203.3725	535,497.5244	395,350.523	374,003.2555	495,372.8115	528,907.4515	649,254.142	533,416.4008	546,994.2507	603,661.2163	751,025.3819	637,813.3205	644,211.0316
CLOSING CASH	535,497.5244	395,350.523	374,003.2555	495,372.8115	528,907.4515	649,254.142	533,416.4008	546,994.2507	603,661.2163	751,025.3819	637,813.3205	644,211.0316	685,022.7685
Minimum cash buffer (board policy)	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000
HEADROOM / (SHORTFALL) VS BUFFER	185,497.5244	45,350.523	24,003.2555	145,372.8115	178,907.4515	299,254.142	183,416.4008	196,994.2507	253,661.2163	401,025.3819	287,813.3205	294,211.0316	335,022.7685
Status	OK	OK	OK	OK	OK	OK	OK	OK	OK	OK	OK	OK	OK

13-week control
Measure	Value
low	374,003.2555
lowwk	2026-10-02
short	24,003.2555
fac	300,000
fachead	300,000
taxwk	272,411.1695

Reconciliation to monthly model
Measure	Value
rec close	685,022.7685
rec dec	-72,488.4855
rec implied	612,534.283
rec bs	612,534.283
rec diff	0

Schedules & controls

Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

Integrity checks
Measure	Value
overall status	OK

Integrity checks / checks
check	proves	value	tolerance	status
Balance sheet balances in every month	Total assets less liabilities and equity, all 24 months	0	0.5	OK
Cash flow: indirect method equals direct method every month	P&L and balance sheet movements equal the sum of the schedule cash lines	0	0.5	OK
Closing cash on the cash flow equals balance sheet cash	Link integrity	0	0.5	OK
Retained earnings roll: closing = opening + profit - dividends	Equity roll-forward to Dec-27	0	0.5	OK
EBITDA plus FX on the cash flow equals the P&L	Add-backs complete	0	0.5	OK
Opening balance sheet at 31-Dec-25 balances	FY2025 closing balances on Inputs_Actuals and Client_Register	0.0007	0.5	OK
Project revenue in actual months equals % complete x contract value	Ledger revenue agrees with the hours-based method, every project, every actual month	0	0.5	OK
Hours by role equal hours booked to clients, every month	Timesheets by role and by client agree; forecast demand by role keeps every hour	0	0.5	OK
Role mixes sum to 100% for every work type	No hours lost in the role split	0	0	OK
Milestone shares sum to 100%	Every project is fully invoiced	0	0	OK
Percentage complete stays between 0% and 100%	No over-recognition	0	0.0001	OK
Projects finishing within the horizon are fully invoiced by completion	Milestone invoicing reaches the contract value	0	0.5	OK
Net revenue by client equals the P&L, every month	Client blocks and currency totals agree	0	0.5	OK
Client profitability: allocated net contributions equal EBITDA	Delivery variance and operating costs are fully allocated	0	0.5	OK
Client profitability: net revenue equals the P&L		0	0.5	OK
EUR clients show no FX revaluation	Translation logic is neutral where no currency is involved	0	0.5	OK
AR aging: GBP clients tie to the ledger (EUR)	Item listing agrees with the balance at the last actual month	0	0.5	OK
AR aging: USD clients tie to the ledger (EUR)	Item listing agrees with the balance at the last actual month	0	0.5	OK
AR aging: EUR clients tie to the ledger (EUR)	Item listing agrees with the balance at the last actual month	0	0.5	OK
AP aging: freelancers tie to the Payables schedule		0	0.5	OK
AP aging: media platforms tie to the Payables schedule		0	0.5	OK
AP aging: production suppliers tie to the Payables schedule		0	0.5	OK
AP aging: overheads tie to the Payables schedule		0	0.5	OK
13-week cash forecast reconciles to the monthly balance sheet at 31-Dec-26	Weekly phasing distributes exactly the monthly cash lines	0	0.5	OK
Scenario snapshots are current for the selected scenario	Live column equals the stored snapshot	0	0.5	OK
Budget vs actual net revenue bridge reconciles to the P&L variance	Hours plus rate effects equal the net revenue variance	0	0.5	OK
EBITDA walk from budget to actual reconciles	Variances explain the full EBITDA gap	0	0.5	OK
Trade receivables never negative		520,386.602	0	OK
Trade payables never negative		222,709.4815	0	OK
Freelancer hours never negative (every role, every month)		0	0	OK
Specific provision never negative		0	0	OK
Fixed asset net book value never negative		80,703.4444	0	OK
Bank loan never negative		36,000	0	OK
Timeline: months flagged actual equal the last actual month number		0	0.5	OK

Integrity checks / business warnings
item	note	value
Lowest month-end cash in the forecast (selected scenario)	Below the buffer means a facility draw or action	339,326.2395
Lowest 13-week closing cash		374,003.2555
Lowest forecast delivery utilisation	Below 70% signals idle capacity	0.6025
Largest client share of FY2027 net revenue	Above 15% is a concentration risk	0.1776
Retainer overservicing, FY2026	Above 10% gives margin away	0.114
Disputed receivable at the last actual month (EUR)	Settlement risk	14,229.0445

Assumptions
type	label	unit	value	note	base	downside	upside	selected	ytd actual reference
scalar	Company name		Kaldmere Studio OÜ (fictional demonstration company)	All figures fictional. Estonian private limited company (osaühing), financial year = calendar year, reporting currency EUR; clients billed in EUR, GBP and USD.
scalar	Reporting currency		EUR
scalar	Model start month (month end)	date	2026-01-31	24 monthly columns from this month
scalar	Last actual month (month end)	date	2026-08-31	Months up to and including this date are actual (fictional ledger); later months are forecast
scalar	Last actual month number	calc	8
scalar	Scenario selector (1 = Base, 2 = Downside, 3 = Upside)	input	1	Change this cell and every forecast month moves. Base = management case; Downside = worst case; Upside = best case.
scalar	Scenario name	calc	Base
scalar	Minimum cash buffer (board policy)	EUR	350,000	Used by the 13-week cash forecast and the CFO report
scalar	Undrawn overdraft facility available	EUR	300,000	Committed revolving overdraft, undrawn; first lever if the buffer is breached
scalar	Aged receivables and payables: as-at date	calc	2026-08-31
scalar	VAT: standard rate	rate	0.24	From 1-Jul-25 (EMTA, Standard VAT rate). Charged to Estonian clients only: services to EU and non-EU business clients are taxed where the client is established (0% in Estonia, KMD field 3; VAT Act s10)
scalar	Income tax on distributions (22/78 of the net dividend)	rate	0.2821	EMTA: 22% of the gross distribution from 2025, unchanged for 2026; due by the 10th of the month after payment. Retained profit is not taxed.
scalar	Social tax, employer	rate	0.33	EMTA 2026; minimum monthly base EUR 886 (every salary in the model is above it)
scalar	Unemployment insurance, employer	rate	0.008	EMTA: fixed for 2025 to 2028
scalar	Unemployment insurance, employee (withheld)	rate	0.016	EMTA: fixed for 2025 to 2028
scalar	Funded pension, employee (withheld)	rate	0.02	EMTA: 2% default; 4% or 6% by election (model assumes 2% for all staff)
scalar	Income tax withheld on salaries	rate	0.22	EMTA 2026: 22%; the planned rise to 24% did not take effect
scalar	Basic exemption per employee per month	EUR	700	EMTA 2026: EUR 700 a month, no longer tapered by income
scalar	Freelancers: share invoicing with Estonian VAT	share	0.4	VAT-registered Estonian freelancers; input VAT recoverable
scalar	Freelancers: share from other EU countries (reverse charge)	share	0.45	The rest (15%) are individuals below the VAT threshold
scalar	Software: share bought from foreign vendors (reverse charge)	share	0.75	Self-assessed output and input VAT net to zero
scalar	Target utilisation used to set the standard cost rate	share	0.75	Standard cost rate recovers role payroll at this utilisation of productive hours
scalar	Maximum sustainable utilisation (above it work goes to freelancers)	share	0.88
scalar	Average productive hours per FTE per month (Timeline profile)	calc	144.8333
scalar	Rate card, FY2026: strategy and account management (EUR per hour)	EUR/hour	125
scalar	Rate card, FY2026: creative and design (EUR per hour)	EUR/hour	105
scalar	Rate card, FY2026: content, copy and video (EUR per hour)	EUR/hour	90
scalar	Rate card, FY2026: development and qa (EUR per hour)	EUR/hour	115
scalar	Rate card, FY2026: performance marketing (EUR per hour)	EUR/hour	100
scalar	Rate card, FY2026: project and delivery management (EUR per hour)	EUR/hour	95
scalar	Monthly gross salary, FY2026: strategy and account management	EUR	4,600	Average per head for the role
scalar	Monthly gross salary, FY2026: creative and design	EUR	3,900	Average per head for the role
scalar	Monthly gross salary, FY2026: content, copy and video	EUR	3,200	Average per head for the role
scalar	Monthly gross salary, FY2026: development and qa	EUR	4,900	Average per head for the role
scalar	Monthly gross salary, FY2026: performance marketing	EUR	3,700	Average per head for the role
scalar	Monthly gross salary, FY2026: project and delivery management	EUR	3,600	Average per head for the role
scalar	Freelancer cost per hour: strategy and account management	EUR/hour	85
scalar	Freelancer cost per hour: creative and design	EUR/hour	65
scalar	Freelancer cost per hour: content, copy and video	EUR/hour	55
scalar	Freelancer cost per hour: development and qa	EUR/hour	75
scalar	Freelancer cost per hour: performance marketing	EUR/hour	65
scalar	Freelancer cost per hour: project and delivery management	EUR/hour	60
scalar	Standard cost rate, FY2026: strategy and account management (EUR per billable hour)	calc	56.661	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: creative and design (EUR per billable hour)	calc	48.0387	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: content, copy and video (EUR per billable hour)	calc	39.4163	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: development and qa (EUR per billable hour)	calc	60.3563	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: performance marketing (EUR per billable hour)	calc	45.5751	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: project and delivery management (EUR per billable hour)	calc	44.3434	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Specialist freelancers per month (illustration, motion, voice-over)	EUR	5,500	Forecast base, inflated from FY2027
scalar	Pay inflation applied from FY2027	rate	0.045	Company assumption for the FY2027 pay review; information needed: the approved review
scalar	Overhead inflation applied from FY2027	rate	0.03
scalar	Bonus accrual rate used in actual months (share of gross pay)	share	0.05	Accrued with employer taxes; paid in March for the prior year
scalar	Recruitment agency fee per hire	EUR	4,500
scalar	Equipment per new hire	EUR	2,600
scalar	IT replacement cycle, capex per month	EUR	2,800
scalar	Office fit-out extension (desks for growth)	EUR	36,000
scalar	Office fit-out extension: month	month	2027-03-31
scalar	Depreciation: IT equipment, useful life	years	3
scalar	Depreciation: office fit-out and furniture, useful life	years	5
scalar	Fixed-fee projects: deposit invoiced at start	share	0.3	Standard terms; the balance on completion
scalar	Fixed-fee projects: interim milestone at the programme mid-point	share	0.4
scalar	Fixed-fee projects: balance invoiced at completion	share	0.3
scalar	GBP per EUR at 31-Dec-25 (ECB reference rate)	rate	0.8726	ECB euro foreign exchange reference rates, 31-Dec-25
scalar	USD per EUR at 31-Dec-25 (ECB reference rate)	rate	1.175	ECB euro foreign exchange reference rates, 31-Dec-25
scalar	Work type	Check	Strategy and account management	Creative and design
scalar	Brand and content retainers	0	0.18	0.32
scalar	Performance retainers	0	0.15	0.12
scalar	Product design and development retainers	0	0.1	0.35
scalar	Fixed-fee projects	0	0.08	0.3
scalar	Time and materials	0	0	0.3
scalar	Media management	0	0.15	0.05
scalar	Freelancers: days payable	days	20	Payment runs on the 15th and at month end
scalar	Media platforms: days payable	days	30	Monthly platform invoices on credit lines, 30 days
scalar	Production suppliers: days payable	days	30
scalar	Overhead suppliers: days payable	days	18
scalar	Bank loan (2025 office fit-out): annual interest rate	rate	0.056
scalar	Bank loan: monthly principal	EUR	3,000	Straight-line to Dec-28
scalar	Dividend on FY2026 profit: month paid	month	2027-06-30	After the FY2026 annual report is approved
scalar	Disputed change request CR-03 (Norbeck Analytics), USD	USD	16,500	Invoiced 29-May-26; 50% provided in June
scenario_driver	Retainer fee change at renewal			Downside = rate pressure at renewal	0.04	0	0.06	0.04
scenario_driver	Retainer overservicing vs the YTD level of each client	x		Base: scope reset at the October reviews removes 30% of the overservicing	0.7	1	0.5	0.7
scenario_driver	Overservicing on retainers with no history yet				0.1	0.2	0.08	0.1	0.1286
scenario_driver	Start delay: contracted and pipeline projects	months			0	2	0	0
scenario_driver	Overrun on remaining project hours			Applied to the estimate to complete at the last actual month	0	0.15	-0.05	0
scenario_driver	Time and materials demand factor	x			1	0.9	1.1	1
scenario_driver	Time and materials write-off: change vs YTD				0	0.04	-0.02	0
scenario_driver	Client media spend factor	x			1	0.9	1.1	1
scenario_driver	Rate card and hourly rates change, FY2027				0.04	0	0.06	0.04
scenario_driver	GBP and USD vs EUR from the last actual month-end (+ = weaker pound and dollar)			Forecast rate = last actual ECB month-end rate x (1 + shift)	0	0.04	-0.03	0
scenario_driver	Clients: extra days to collect	days			0	15	0	0	32.4522
scenario_driver	Delivery hiring plan (1 = as planned, 0 = freeze)	flag			1	0	1	1
scenario_driver	Head of delivery hire (1 = as planned, 0 = freeze)	flag			1	0	1	1
scenario_driver	Bonus accrual rate, forecast months				0.05	0	0.06	0.05	0.05
scenario_driver	Delivery capacity cut after losing the top client (FTE, spread across roles)	FTE		Management response in the Downside: notice given in January, leavers off payroll from the month below	0	4	0	0
scenario_driver	Capacity cut: first month without the leavers	month		Redundancy compensation of one month average wage paid in that month (Employment Contracts Act s100); notice of 15 to 90 days by tenure (s97)	2027-03-31	2027-03-31	2027-03-31	2027-03-31
scenario_driver	Discretionary overheads factor (travel, new business, training)	x			1	0.85	1	1
scenario_driver	Dividend on FY2026 profit (share of net profit, paid Jun-27)				0.5	0	0.6	0.5
scenario_driver	Disputed CR-03: share recovered				0.5	0	0.8	0.5
scenario_driver	Disputed CR-03: month of settlement	month			2026-11-30	2027-02-28	2026-10-31	2026-11-30

INPUTS: ACTUAL MONTHS (FICTIONAL LEDGER, TIMESHEETS, PAYROLL, CRM AND BANK)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	FY2026
GBP per EUR, monthly average	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB (derived)	0.8694	0.8712	0.8723	0.8673	0.8667	0.8645	0.8588	0.8561	0.8658
GBP per EUR, month end	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB	0.8662	0.8763	0.8683	0.8662	0.8672	0.8618	0.8557	0.8565	0
USD per EUR, monthly average	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB (derived)	1.1834	1.1862	1.1651	1.16	1.1673	1.1519	1.144	1.1541	1.164
USD per EUR, month end	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB	1.1919	1.1805	1.1498	1.1702	1.1644	1.1394	1.1485	1.1596	0
R-HAL: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	336,000
R-HAL: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	514.8	496.4	508.5	486.3	483.1	490.1	489.4	494.7	3,963.3
R-HAL: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	336,000
R-THV: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	120,000
R-THV: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	197.3	199.6	191.4	197	191.6	200.9	199.6	205.1	1,582.5
R-THV: invoiced (quarterly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	45,000	0	0	45,000	0	0	45,000	0	135,000
R-RVM: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	144,000
R-RVM: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	209.5	214	205.8	214.7	207.3	195.5	216.4	199.9	1,663.1
R-RVM: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	144,000
R-PEL: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	0	0	0	0	0	11,500	11,500	11,500	34,500
R-PEL: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	0	0	0	0	0	153.2	146.2	148.3	447.7
R-PEL: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	0	0	0	0	0	11,500	11,500	11,500	34,500
R-QFS: retainer fee recognised (USD)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	0	0	0	26,000	26,000	26,000	26,000	26,000	130,000
R-QFS: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	0	0	0	251.1	255.8	244.2	240.5	235.1	1,226.7
R-QFS: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	0	0	0	26,000	26,000	26,000	26,000	26,000	130,000
R-HOC: retainer fee recognised (USD)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	88,000
R-HOC: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	95.2	98.3	102.8	107.6	110.5	94.7	104.2	102.6	815.9
R-HOC: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	88,000
R-VOL: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	148,000
R-VOL: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	245.6	240.6	251	231.6	238.5	233.5	245.4	234.3	1,920.5
R-VOL: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	148,000
R-LIN: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	128,000
R-LIN: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	178.1	172.8	166.2	163.9	177	178.5	180.7	168.5	1,385.7
R-LIN: invoiced (quarterly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	48,000	0	0	48,000	0	0	48,000	0	144,000
R-VDH: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	112,000
R-VDH: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	161.4	155	163.4	151.2	153.9	147.7	157.4	159.2	1,249.2
R-VDH: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	112,000
R-SRV: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	108,000
R-SRV: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	173.7	166.3	168.2	171.9	166.6	163.6	160.1	174.5	1,344.9
R-SRV: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	108,000
R-TAM: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	72,000
R-TAM: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	104	95.3	100.5	104.8	99.5	102.4	96.2	102.7	805.4
R-TAM: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	72,000
P-2505: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	133.4	51.6	0	0	0	0	0	0	185
P-2505: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate	51.6	0	0	0	0	0	0	0
P-2505: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
P-2505: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	10,258.69	4,833.42	0	0	0	0	0	0	15,092.11
P-2505: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	22,200	0	0	0	0	0	0	22,200
P-2506: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	255.6	228.2	150.5	58.9	0	0	0	0	693.2
P-2506: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate	387.6	209.4	58.9	0	0	0	0	0
P-2506: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
P-2506: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	24,537.6	17,880.37	13,892.31	5,436.92	0	0	0	0	61,747.2
P-2506: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	48,000	0	0	36,000	0	0	0	0	84,000
P-2507: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	246.3	156.6	91.3	0	0	0	0	0	494.2
P-2507: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate	247.9	91.3	0	0	0	0	0	0
P-2507: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
P-2507: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	23,398.5	14,877	8,673.5	0	0	0	0	0	46,949
P-2507: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	38,000	0	28,500	0	0	0	0	0	66,500
P-2601: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	74.8	229.1	313.3	455.4	504.2	476.8	433.7	2,487.3
P-2601: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate		2,225.2	1,996.1	1,682.8	1,527.4	1,173.2	846.4	462.7
P-2601: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract		210,000	210,000	210,000	226,500	226,500	226,500	226,500
P-2601: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	190,974.05
P-2601: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	63,000	0	0	16,500	67,500	0	0	147,000
P-2602: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	78.3	213.1	292.9	358.3	302.7	164.3	1,409.6
P-2602: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate			1,371.7	1,158.6	865.7	557.4	254.7	90.4
P-2602: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract			145,000	145,000	145,000	145,000	145,000	145,000
P-2602: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	136,261.33
P-2602: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	43,500	0	0	58,000	0	0	101,500
P-2603: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	0	0	70.7	181.2	198.1	271.6	721.6
P-2603: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate					889.3	708.1	510	268.4
P-2603: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract					96,000	96,000	96,000	96,000
P-2603: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	0	0	7,070	18,120	19,810	24,973.33	69,973.33
P-2603: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	0	0	28,800	0	0	38,400	67,200
P-2604: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	0	0	0	42.2	103.6	129.6	275.4
P-2604: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate						517.8	414.2	284.6
P-2604: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract						56,000	56,000	56,000
P-2604: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	0	0	0	4,220	10,360	12,960	27,540
P-2604: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	0	0	0	16,800	0	0	16,800
P-2604: third-party production cost (EUR)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	purchase ledger	0	0	0	0	0	0	4,200	5,600	9,800
P-2605: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	0	0	0	0	77.5	204.4	281.9
P-2605: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate							722.5	518.1
P-2605: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract							85,000	85,000
P-2605: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	0	0	0	0	8,234.38	21,717.5	29,951.88
P-2605: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	0	0	0	0	25,500	0	25,500
ASH: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	257.5	224.5	222.5	190.7	206.7	215.2	169	246.3	1,732.4
ASH: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	139,474.12
ASH: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	134,048.91
CAR: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	0	0	96.2	91.5	99.9	86.4	64.5	90.6	529.1
CAR: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	48,915.6
CAR: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	0	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	40,601.11
TWL: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	0	0	0	0	0	0	0	0	0
TWL: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	0	0	0	0	0	0	0	0	0
TWL: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	0	0	0	0	0	0	0	0	0
OTH: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	115.9	109.7	133.7	145	113.4	121.3	95.8	99	933.8
OTH: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	74,612.99
OTH: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	7,861.33	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	74,741.68
THV: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	428,397.39
THV: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	42,839.74
HOC: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	667,724.31
HOC: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	60,095.19
LIN: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	36,651.48	36,033.18	37,761.67	41,489.22	37,868.66	40,561.35	35,029.41	35,093.95	300,488.92
LIN: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	3,665.15	3,603.32	3,776.17	4,148.92	3,786.87	4,056.14	3,502.94	3,509.39	30,048.9
TAM: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	17,814.1	19,471.68	20,102.78	21,367.75	20,600.91	21,373.1	20,230.83	21,912.78	162,873.93
TAM: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	2,137.69	2,336.6	2,412.33	2,564.13	2,472.11	2,564.77	2,427.7	2,629.53	19,544.86
VDH: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	26,297.13	26,644.31	28,793.82	30,973.38	31,211.42	29,702.68	24,993.32	24,881.93	223,497.99
VDH: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	2,629.71	2,664.43	2,879.38	3,097.34	3,121.14	2,970.27	2,499.33	2,488.19	22,349.79
HAL: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	41,018.64	84,117.35	42,294.42	66,531.52	43,620.08	49,695.84	41,559.96	61,230.8	430,068.61
THV: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	68,870.03	100,682.27	53,418.87	52,918.66	120,402.2	65,730.95	54,774.75	98,750.33	615,548.06
PEL: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	0	0	-276.45	12,029.94	10,077.43	21,830.92
ASH: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	17,042.51	16,709.45	18,134.38	19,624.88	16,268.18	17,166.74	18,356.48	13,913.57	137,216.19
TWL: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	6,145.72	37,354.28	0	-720.54	58,720.54	0	101,500
RVM: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	23,008.3	62,068.25	18,299.53	20,094.93	49,958.26	18,207.37	20,703.32	17,431.82	229,771.78
MAR: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	0	0	-1,898.27	18,401.35	4,729.32	21,232.4
QFS: cash received (USD)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	-6,422.24	21,362.46	22,766.7	25,566.49	29,807.61	93,081.02
HOC: cash received (USD)	CLIENT RECEIPTS (bank, invoice currency)	bank	108,093.63	151,952.1	73,474.85	104,268.91	101,484.01	78,717.88	134,762.36	89,911.9	842,665.64
NOR: cash received (USD)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	-6,791.25	42,203.85	27,587.4	0	-3,568.35	39,681.55	31,386.8	130,500
VOL: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	20,421.71	15,239.5	21,514.74	16,125.73	17,698.39	22,496.94	15,114.98	18,315.87	146,927.86
LIN: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	48,155.13	96,637.13	31,469.7	42,108.42	85,084.95	47,633.69	46,522.02	93,369.04	490,980.08
VDH: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	51,045.39	48,141.74	38,125.32	40,889.24	50,424.69	52,689.94	43,750.92	48,310.61	373,377.85
VLM: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	0	-733.15	29,533.15	0	2,725.74	31,525.74
SRV: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	14,979.91	12,244.86	14,849.75	12,379.78	13,716.36	13,234.24	13,589.08	12,458.29	107,452.27
CAR: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	1,693.13	20,506.87	-317.13	9,866.63	8,030.82	9,454.63	7,698.71	56,933.66
TAM: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	41,393.15	34,546.01	45,393.93	39,731.77	36,699.01	41,232.45	41,933.12	37,332.35	318,261.79
OTH: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	10,312.08	10,085.46	13,003.59	10,502.26	14,112.37	13,182.28	11,892.02	10,172.21	93,262.27
Headcount: strategy and account management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	5	5	5	5	5	5	5	5	5
Headcount: creative and design	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	9	9	9	9	8	8	9	9	8.75
Headcount: content, copy and video	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	5	5	5	5	4	4	4	4	4.5
Headcount: development and qa	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	7	7	7	8	8	8	8	8	7.625
Headcount: performance marketing	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	4	4	4	4	4	4	4	4	4
Headcount: project and delivery management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	3	3	3	3	3	3	3	3	3
Billable hours worked by own staff: strategy and account management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	351.7	336	341.9	365.9	385.4	430.3	440	443.1	3,094.3
Billable hours worked by own staff: creative and design	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	830.3	771.1	822	904.6	970.9	984.5	885.2	1,059.8	7,228.4
Billable hours worked by own staff: content, copy and video	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	317.6	305.6	310.4	308	320.1	385.2	390.8	396.2	2,733.9
Billable hours worked by own staff: development and qa	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	835.2	753	841.8	948.6	1,039.6	980.4	763.6	960.9	7,123.1
Billable hours worked by own staff: performance marketing	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	504.6	494.9	501.3	498.1	505.4	496.4	389.6	483.2	3,873.5
Billable hours worked by own staff: project and delivery management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	293.6	267.8	286.7	312.1	346.1	366.5	296.9	352.6	2,522.3
Billable hours worked by freelancers: strategy and account management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.097	0.066	0.059	0.099	0.031	0.013	0.085	0.054	0.504
Billable hours worked by freelancers: creative and design	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.021	0.058	0.075	0.095	0.072	109	209.691	77.559	396.571
Billable hours worked by freelancers: content, copy and video	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.006	0.017	0.047	0.015	0.012	0.044	0.095	0.04	0.276
Billable hours worked by freelancers: development and qa	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.099	0.099	0.057	0.006	0.071	170.364	369.008	247.383	787.087
Billable hours worked by freelancers: performance marketing	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.017	0	0.007	0.035	0.029	2.439	117.601	21.194	141.322
Billable hours worked by freelancers: project and delivery management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.06	0.06	0.055	0.05	0.085	32.94	106.52	67.37	207.14
Freelancer cost (ex VAT)	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	purchase ledger	5,062.83	5,921.18	5,125.2	6,532.51	5,209.98	25,536.25	59,683.52	32,476.4	145,547.87
Delivery team gross pay	PAYROLL	payroll	133,124	132,557	134,790	139,333	132,804	132,502	136,778	137,521	1,079,409
Leadership, new business and operations gross pay	PAYROLL	payroll	24,576	24,425	24,105	24,554	24,215	24,402	24,337	24,453	195,067
Leadership, new business and operations headcount	PAYROLL	payroll	5	5	5	5	5	5	5	5	5
Prior-year bonus paid (provision utilised, incl. employer taxes)	PAYROLL	payroll	0	0	131,500	0	0	0	0	0	131,500
Rent and service charges, Tallinn office	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	9,198	10,089	10,207	9,251	8,699	9,141	9,100	9,186	74,871
Software and tools	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	6,492	6,219	6,515	6,180	6,716	6,127	6,748	6,413	51,410
Client travel (UK, US, EU)	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	3,394	6,861	6,969	6,196	6,591	4,368	2,245	3,033	39,657
New business, awards and events	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,068	3,304	3,646	4,548	9,013	4,228	1,510	2,581	30,898
Recruitment	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	800	800	5,300	800	800	800	5,300	800	15,400
Training and conferences	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,451	2,109	1,927	2,264	2,331	2,140	2,328	2,224	17,774
Accounting, legal and professional fees	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,542	2,755	2,762	2,741	2,746	2,612	2,401	2,568	21,127
Insurance (professional indemnity, cyber)	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	892	811	940	894	821	944	798	828	6,928
Office and administration	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,141	2,044	1,753	2,033	1,969	1,948	2,051	1,806	15,745
IT support and equipment leases	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	1,684	1,670	2,012	1,831	2,054	2,015	1,685	2,113	15,064
Bank, payment and FX charges	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	1,283	978	1,053	1,177	1,138	1,127	1,120	1,028	8,904
Specific provision charged (bad debts)	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	0	0	0	0	0	7,240.65	0	0	7,240.65
Capex: IT equipment	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	asset register	2,600	1,400	3,100	5,200	900	2,400	4,800	1,600	22,000
Capex: office fit-out and furniture	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	asset register	0	0	0	0	0	0	0	0	0
Freelancers: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	23,309.71	5,812.3	6,536.96	6,054.52	6,387.02	11,482.73	38,207.84	57,873.22	155,664.3
Media platforms: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	160,513.37	194,305.35	194,859.5	210,132.63	243,567.19	255,796.31	232,273.71	187,582.6	1,679,030.66
Production suppliers: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	0	0	0	0	0	0	16.72	5,223.94	5,240.66
Overhead suppliers: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	37,789.4	41,784.96	41,958.93	53,072.1	46,559.27	45,029.6	39,146.74	40,085.85	345,426.85
Dividends paid (net)	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank, shareholder resolution	0	0	0	0	0	280,000	0	0	280,000
Income tax on distributions (22/78 of the dividend)	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	TSD annex 7	0	0	0	0	0	78,974.36	0	0	78,974.36

INPUTS: ACTUAL MONTHS (FICTIONAL LEDGER, TIMESHEETS, PAYROLL, CRM AND BANK)
label	basis	section	format	kind	bold	value c
Cash at bank	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	486,000
Prepayments and deposits	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	38,000
IT equipment: cost	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	142,000
IT equipment: accumulated depreciation	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	78,000
Office fit-out and furniture: cost	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	118,000
Office fit-out and furniture: accumulated depreciation	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	41,000
Trade payables: freelancers	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	21,400
Trade payables: media platforms	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	158,000
Trade payables: production suppliers	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	0
Trade payables: overhead suppliers	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	24,300
Payroll taxes payable (December TSD)	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	86,983.07
VAT payable (December return)	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	3,800
Bonus provision (FY2025, incl. employer taxes)	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	131,500
Bank loan	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	108,000
Income tax on distributions payable	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	0
Share capital	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	2,600
Retained earnings	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	775,512.01

OVERHEADS (EUR, ex VAT)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Rent and service charges, Tallinn office	OVERHEAD LINES	A: ledger; F: base x inflation	9,198	10,089	10,207	9,251	8,699	9,141	9,100	9,186	9,400	9,400	9,400	9,400	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	112,471	116,184
Software and tools	OVERHEAD LINES	A: ledger; F: base x inflation	6,492	6,219	6,515	6,180	6,716	6,127	6,748	6,413	6,500	6,500	6,500	6,500	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	77,410	80,340
Client travel (UK, US, EU)	OVERHEAD LINES	A: ledger; F: base x inflation x discretionary factor	3,394	6,861	6,969	6,196	6,591	4,368	2,245	3,033	5,100	5,100	5,100	5,100	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	60,057	63,036
New business, awards and events	OVERHEAD LINES	A: ledger; F: base x inflation x discretionary factor	2,068	3,304	3,646	4,548	9,013	4,228	1,510	2,581	3,700	3,700	3,700	3,700	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	45,698	45,732
Recruitment	OVERHEAD LINES	A: ledger; F: base x inflation	800	800	5,300	800	800	800	5,300	800	800	5,300	5,300	800	2,849	824	2,624	5,324	824	824	824	824	824	824	824	824	27,600	18,213
Training and conferences	OVERHEAD LINES	A: ledger; F: base x inflation x discretionary factor	2,451	2,109	1,927	2,264	2,331	2,140	2,328	2,224	2,200	2,200	2,200	2,200	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	26,574	27,192
Accounting, legal and professional fees	OVERHEAD LINES	A: ledger; F: base x inflation	2,542	2,755	2,762	2,741	2,746	2,612	2,401	2,568	2,600	2,600	2,600	2,600	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	31,527	32,136
Insurance (professional indemnity, cyber)	OVERHEAD LINES	A: ledger; F: base x inflation	892	811	940	894	821	944	798	828	900	900	900	900	927	927	927	927	927	927	927	927	927	927	927	927	10,528	11,124
Office and administration	OVERHEAD LINES	A: ledger; F: base x inflation	2,141	2,044	1,753	2,033	1,969	1,948	2,051	1,806	2,100	2,100	2,100	2,100	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	24,145	25,956
IT support and equipment leases	OVERHEAD LINES	A: ledger; F: base x inflation	1,684	1,670	2,012	1,831	2,054	2,015	1,685	2,113	1,900	1,900	1,900	1,900	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	22,664	23,484
Bank, payment and FX charges	OVERHEAD LINES	A: ledger; F: base x inflation	1,283	978	1,053	1,177	1,138	1,127	1,120	1,028	1,150	1,150	1,150	1,150	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	13,504	14,214
TOTAL OVERHEADS	OVERHEAD LINES		32,945	37,640	43,084	37,915	42,878	35,450	35,286	32,580	36,350	40,850	40,850	36,350	39,465.5	37,440.5	39,240.5	41,940.5	37,440.5	37,440.5	37,440.5	37,440.5	37,440.5	37,440.5	37,440.5	37,440.5	452,178	457,611
Overheads bearing Estonian input VAT	OVERHEAD LINES	line x VAT share	21,453.6	23,400.6	28,244.6	23,444	25,975.15	22,737.75	25,096.35	21,636.6	22,950	27,450	27,450	22,950	25,663.5	23,638.5	25,438.5	28,138.5	23,638.5	23,638.5	23,638.5	23,638.5	23,638.5	23,638.5	23,638.5	23,638.5	292,788.65	291,987
Software bought from foreign vendors (reverse charge base)	OVERHEAD LINES	software x reverse charge share	4,869	4,664.25	4,886.25	4,635	5,037	4,595.25	5,061	4,809.75	4,875	4,875	4,875	4,875	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	58,057.5	60,255

OVERHEADS (EUR, ex VAT)
label	basis	section	format	kind	bold	value c	value d
Rent and service charges, Tallinn office	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	9,400	1
Software and tools	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	6,500	0.25
Client travel (UK, US, EU) (discretionary)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	5,100	0.15
New business, awards and events (discretionary)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	3,700	0.6
Recruitment	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	800	1
Training and conferences (discretionary)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	2,200	0.7
Accounting, legal and professional fees	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	2,600	1
Insurance (professional indemnity, cyber)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	900	0
Office and administration	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	2,100	1
IT support and equipment leases	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	1,900	1
Bank, payment and FX charges	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	1,150	0

VAT (MONTHLY KMD RETURN, DUE BY THE 20TH)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Estonian clients (24%)	OUTPUT VAT	FX	8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	9,929.4336	11,175.3525	12,749.0838	11,671.3811	8,847.7163	9,420.9756	9,883.6229	10,362.8082	10,230.6153	9,949.7193	9,189.6381	9,040.9075	9,999.2779	10,924.6002	12,428.2248	11,387.2476	124,523.7638	121,665.3537
Reverse charge on services received from abroad	OUTPUT VAT	(media + foreign freelancers + foreign software) x 24%	49,105.4586	48,628.6454	54,300.5022	59,658.1246	58,149.4285	57,475.0592	59,203.4039	59,911.5027	58,544.7954	63,494.9345	77,524.6923	69,106.8376	49,302.6066	49,302.6066	53,862.1098	55,059.6695	55,059.6695	52,397.9775	47,244.5675	48,059.8454	53,196.9582	57,278.071	69,880.8531	62,319.1839	715,103.385	652,964.1187
Total output VAT	OUTPUT VAT		57,940.6074	58,342.031	63,976.1862	69,995.143	68,572.0765	67,612.964	69,186.1007	69,805.5291	68,474.229	74,670.2869	90,273.7761	80,778.2187	58,150.323	58,723.5822	63,745.7327	65,422.4777	65,290.2848	62,347.6969	56,434.2056	57,100.7529	63,196.2361	68,202.6712	82,309.0779	73,706.4314	839,627.1488	774,629.4723
Reverse charge (same amount as output)	INPUT VAT (recoverable)		49,105.4586	48,628.6454	54,300.5022	59,658.1246	58,149.4285	57,475.0592	59,203.4039	59,911.5027	58,544.7954	63,494.9345	77,524.6923	69,106.8376	49,302.6066	49,302.6066	53,862.1098	55,059.6695	55,059.6695	52,397.9775	47,244.5675	48,059.8454	53,196.9582	57,278.071	69,880.8531	62,319.1839	715,103.385	652,964.1187
Overheads	INPUT VAT (recoverable)		5,148.864	5,616.144	6,778.704	5,626.56	6,234.036	5,457.06	6,023.124	5,192.784	5,508	6,588	6,588	5,508	6,159.24	5,673.24	6,105.24	6,753.24	5,673.24	5,673.24	5,673.24	5,673.24	5,673.24	5,673.24	5,673.24	5,673.24	70,269.276	70,076.88
Estonian freelancers	INPUT VAT (recoverable)		486.0317	568.4333	492.0192	627.121	500.1581	2,451.48	5,729.6179	3,117.7344	1,116.2347	528	528	528	551.76	551.76	551.76	551.76	551.76	551.76	2,110.2298	551.76	551.76	551.76	551.76	551.76	16,672.8303	8,179.5898
Production suppliers	INPUT VAT (recoverable)		0	0	0	0	0	0	1,008	1,344	1,610.3333	2,848.3333	2,624.3333	1,125	0	0	0	0	0	0	0	0	0	0	0	0	10,560	0
Capex	INPUT VAT (recoverable)		624	336	744	1,248	216	576	1,152	384	672	1,296	1,296	672	983.04	702.24	9,591.84	1,326.24	702.24	702.24	702.24	702.24	702.24	702.24	702.24	702.24	9,216	18,221.28
Total input VAT	INPUT VAT (recoverable)		55,364.3543	55,149.2226	62,315.2254	67,159.8056	65,099.6226	65,959.5992	73,116.1458	69,950.0211	67,451.3635	74,755.2678	88,561.0257	76,939.8376	56,996.6466	56,229.8466	70,110.9498	63,690.9095	61,986.9095	59,325.2175	55,730.2773	54,987.0854	60,124.1982	64,205.311	76,808.0931	69,246.4239	821,821.4912	749,441.8685
Net VAT for the month (output - input)	VAT PAYABLE / (RECOVERABLE)		2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-144.492	1,022.8655	-84.9809	1,712.7505	3,838.3811	1,153.6763	2,493.7356	-6,365.2171	1,731.5682	3,303.3753	3,022.4793	703.9283	2,113.6675	3,072.0379	3,997.3602	5,500.9848	4,460.0076	17,805.6575	25,187.6039
Opening VAT payable / (recoverable)	VAT PAYABLE / (RECOVERABLE)		3,800	2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-4,074.5371	878.3735	-84.9809	1,627.7696	3,838.3811	1,153.6763	2,493.7356	-6,365.2171	-4,633.6489	3,303.3753	3,022.4793	703.9283	2,113.6675	3,072.0379	3,997.3602	5,500.9848
Paid: prior month net payable (20th)	VAT PAYABLE / (RECOVERABLE)		-3,800	-2,576.2531	-3,192.8083	-1,660.9608	-2,835.3374	-3,472.4539	-1,653.3648	0	0	-1,022.8655	0	-1,712.7505	-3,838.3811	-1,153.6763	-2,493.7356	0	-1,731.5682	-3,303.3753	-3,022.4793	-703.9283	-2,113.6675	-3,072.0379	-3,997.3602	-5,500.9848	-21,926.7944	-30,931.1945
Credited: net refund of two months earlier, offset against TSD (10th)	VAT PAYABLE / (RECOVERABLE)		0	0	0	0	0	0	0	0	3,930.0451	144.492	0	84.9809	0	0	0	0	6,365.2171	0	0	0	0	0	0	0	4,159.518	6,365.2171
CLOSING VAT PAYABLE / (RECOVERABLE)	VAT PAYABLE / (RECOVERABLE)		2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-4,074.5371	878.3735	-84.9809	1,627.7696	3,838.3811	1,153.6763	2,493.7356	-6,365.2171	-4,633.6489	3,303.3753	3,022.4793	703.9283	2,113.6675	3,072.0379	3,997.3602	5,500.9848	4,460.0076	3,838.3811	4,460.0076

FIXED ASSETS AND DEPRECIATION
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Cost: opening	IT EQUIPMENT		142,000	144,600	146,000	149,100	154,300	155,200	157,600	162,400	164,000	166,800	172,200	177,600	180,400	184,496	187,422	191,388	196,914	199,840	202,766	205,692	208,618	211,544	214,470	217,396
Additions	IT EQUIPMENT	A: asset register; F: capex plan	2,600	1,400	3,100	5,200	900	2,400	4,800	1,600	2,800	5,400	5,400	2,800	4,096	2,926	3,966	5,526	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	38,400	39,922
Cost: closing	IT EQUIPMENT		144,600	146,000	149,100	154,300	155,200	157,600	162,400	164,000	166,800	172,200	177,600	180,400	184,496	187,422	191,388	196,914	199,840	202,766	205,692	208,618	211,544	214,470	217,396	220,322	180,400	220,322
Accumulated depreciation: opening	IT EQUIPMENT		78,000	82,016.6667	86,072.2222	90,213.8889	94,500	98,811.1111	103,188.8889	107,700	112,255.5556	116,888.8889	121,672.2222	126,605.5556	131,616.6667	136,741.5556	141,947.7222	147,264.0556	152,733.8889	158,285	163,917.3889	169,631.0556	175,426	181,302.2222	187,259.7222	193,298.5
Depreciation charge	IT EQUIPMENT	min(NBV, cost / life)	4,016.6667	4,055.5556	4,141.6667	4,286.1111	4,311.1111	4,377.7778	4,511.1111	4,555.5556	4,633.3333	4,783.3333	4,933.3333	5,011.1111	5,124.8889	5,206.1667	5,316.3333	5,469.8333	5,551.1111	5,632.3889	5,713.6667	5,794.9444	5,876.2222	5,957.5	6,038.7778	6,120.0556	53,616.6667	67,801.8889
Accumulated depreciation: closing	IT EQUIPMENT		82,016.6667	86,072.2222	90,213.8889	94,500	98,811.1111	103,188.8889	107,700	112,255.5556	116,888.8889	121,672.2222	126,605.5556	131,616.6667	136,741.5556	141,947.7222	147,264.0556	152,733.8889	158,285	163,917.3889	169,631.0556	175,426	181,302.2222	187,259.7222	193,298.5	199,418.5556	131,616.6667	199,418.5556
Net book value	IT EQUIPMENT		62,583.3333	59,927.7778	58,886.1111	59,800	56,388.8889	54,411.1111	54,700	51,744.4444	49,911.1111	50,527.7778	50,994.4444	48,783.3333	47,754.4444	45,474.2778	44,123.9444	44,180.1111	41,555	38,848.6111	36,060.9444	33,192	30,241.7778	27,210.2778	24,097.5	20,903.4444	48,783.3333	20,903.4444
Cost: opening	OFFICE FIT-OUT AND FURNITURE		118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000
Additions	OFFICE FIT-OUT AND FURNITURE	A: asset register; F: capex plan	0	0	0	0	0	0	0	0	0	0	0	0	0	0	36,000	0	0	0	0	0	0	0	0	0	0	36,000
Cost: closing	OFFICE FIT-OUT AND FURNITURE		118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	118,000	154,000
Accumulated depreciation: opening	OFFICE FIT-OUT AND FURNITURE		41,000	42,966.6667	44,933.3333	46,900	48,866.6667	50,833.3333	52,800	54,766.6667	56,733.3333	58,700	60,666.6667	62,633.3333	64,600	66,566.6667	68,533.3333	71,100	73,666.6667	76,233.3333	78,800	81,366.6667	83,933.3333	86,500	89,066.6667	91,633.3333
Depreciation charge	OFFICE FIT-OUT AND FURNITURE	min(NBV, cost / life)	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	23,600	29,600
Accumulated depreciation: closing	OFFICE FIT-OUT AND FURNITURE		42,966.6667	44,933.3333	46,900	48,866.6667	50,833.3333	52,800	54,766.6667	56,733.3333	58,700	60,666.6667	62,633.3333	64,600	66,566.6667	68,533.3333	71,100	73,666.6667	76,233.3333	78,800	81,366.6667	83,933.3333	86,500	89,066.6667	91,633.3333	94,200	64,600	94,200
Net book value	OFFICE FIT-OUT AND FURNITURE		75,033.3333	73,066.6667	71,100	69,133.3333	67,166.6667	65,200	63,233.3333	61,266.6667	59,300	57,333.3333	55,366.6667	53,400	51,433.3333	49,466.6667	82,900	80,333.3333	77,766.6667	75,200	72,633.3333	70,066.6667	67,500	64,933.3333	62,366.6667	59,800	53,400	59,800
Capex	TOTAL		2,600	1,400	3,100	5,200	900	2,400	4,800	1,600	2,800	5,400	5,400	2,800	4,096	2,926	39,966	5,526	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	38,400	75,922
Depreciation	TOTAL		5,983.3333	6,022.2222	6,108.3333	6,252.7778	6,277.7778	6,344.4444	6,477.7778	6,522.2222	6,600	6,750	6,900	6,977.7778	7,091.5556	7,172.8333	7,883	8,036.5	8,117.7778	8,199.0556	8,280.3333	8,361.6111	8,442.8889	8,524.1667	8,605.4444	8,686.7222	77,216.6667	97,401.8889
NET BOOK VALUE (to balance sheet)	TOTAL		137,616.6667	132,994.4444	129,986.1111	128,933.3333	123,555.5556	119,611.1111	117,933.3333	113,011.1111	109,211.1111	107,861.1111	106,361.1111	102,183.3333	99,187.7778	94,940.9444	127,023.9444	124,513.4444	119,321.6667	114,048.6111	108,694.2778	103,258.6667	97,741.7778	92,143.6111	86,464.1667	80,703.4444	102,183.3333	80,703.4444

BANK LOAN, DIVIDENDS, INCOME TAX ON DISTRIBUTIONS AND THE OVERDRAFT FACILITY
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Opening balance	BANK LOAN		108,000	105,000	102,000	99,000	96,000	93,000	90,000	87,000	84,000	81,000	78,000	75,000	72,000	69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000
Principal repaid	BANK LOAN	fixed monthly principal, capped at the balance	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-36,000	-36,000
BANK LOAN	BANK LOAN		105,000	102,000	99,000	96,000	93,000	90,000	87,000	84,000	81,000	78,000	75,000	72,000	69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000	36,000	72,000	36,000
Interest	BANK LOAN	opening x rate / 12	504	490	476	462	448	434	420	406	392	378	364	350	336	322	308	294	280	266	252	238	224	210	196	182	5,124	3,108
Current portion (next 12 months)	BANK LOAN		36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000
Non-current portion	BANK LOAN		69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000	36,000	33,000	30,000	27,000	24,000	21,000	18,000	15,000	12,000	9,000	6,000	3,000	0	36,000	0
Dividends paid (net)	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS	A: bank; F: payout x FY2026 net profit in the dividend month (none further in FY2026)	0	0	0	0	0	280,000	0	0	0	0	0	0	0	0	0	0	0	214,239.1422	0	0	0	0	0	0	280,000	214,239.1422
Income tax on distributions (P&L)	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS	A: TSD; F: dividend x 22/78	0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	60,426.4247	0	0	0	0	0	0	78,974.36	60,426.4247
Income tax on distributions payable: opening	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS		0	0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	60,426.4247	0	0	0	0	0
Paid (by the 10th of the following month)	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS		0	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	-60,426.4247	0	0	0	0	0	-78,974.36	-60,426.4247
INCOME TAX ON DISTRIBUTIONS PAYABLE	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS		0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	60,426.4247	0	0	0	0	0	0	0	0
Overdraft facility, undrawn	FACILITY (memo)	Assumptions	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000

CFO decisions & actions

Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

7. RISK REGISTER (scored 1 to 5; score = likelihood x impact)
Risk	Likelihood	Impact	Score	Mitigation and owner
Client concentration: Halvergate is 19% of FY2026 net revenue and renews on 31 December; the top five clients are 49%.	3	5	15	Renewal proposal in October with the growth marketing pod; executive sponsor meeting before 30 November; grow two mid-size retainers to reduce the share below 15%; Founder and CEO
Cash buffer: forecast low of EUR 339k against the EUR 350k buffer; media is paid before clients pay	3	4	12	Weekly 13-week review; media clients on 30-day or prepaid terms; overdraft confirmed; Operations and finance manager
Overservicing: 13% of scoped retainer hours given away (EUR 93k at standard cost)	4	3	12	Monthly scope report to each client; change requests above scope; renew on actual hours; Head of delivery (founder until the hire)
Norbeck: project at 61% realisation and CR-03 (USD 16,500) disputed	4	2	8	Fix the go-live date; settlement meeting in October; completion milestone invoiced on go-live; Founder and CEO
Capacity mismatch: development at 82% and content at 53% utilisation	3	3	9	Cross-train one content producer into design production; freelancer panel for development peaks; Operations and finance manager
Pipeline dependency: 28% of FY2027 fee revenue not yet won	3	4	12	Pipeline review every two weeks with win-probability discipline; two retainer wins targeted by Q1-27; New business director
FX: 68% of revenue in GBP and USD against euro costs	3	3	9	Price new UK and US work with an FX review clause; convert receipts on arrival; consider forward cover once GBP exposure is stable; Operations and finance manager
Pay inflation and hiring ahead of work: the FY2027 pay review and new roles land before the new work	3	3	9	Hires only against signed work; pay review tied to utilisation and realisation targets; Founder and CEO
Credit exposure: Harrowgate owes EUR 196k on 60-day terms, mostly media already paid for	2	4	8	Media prepaid or on 30 days from the next insertion order; credit limit on unpaid media; Operations and finance manager
Key person: the founder leads creative direction and new business	2	4	8	Head of delivery hire in April; second pitch lead from the account team; documented client relationships; Founder and CEO

8. ACTIONS (owner, due date, status)
Action	Owner	Due	Status	Measure of done
Halvergate renewal: proposal with the growth marketing pod and a scope matched to actual hours, signed before 30 November	Founder and CEO	2026-11-30	Open	Renewal signed; FY2027 fee agreed
Scope reviews with Voltaro, Quillfield and Halvergate: change requests above scope, monthly scope report	Head of delivery (founder until April)	2026-10-31	Open	Overservicing below 10% of scope for Q4
Norbeck: fix the go-live date, settle CR-03 and invoice the completion milestone on go-live	Founder and CEO	2026-10-31	Open	CR-03 settled in writing; milestone invoiced
Move Harrowgate media to prepaid or 30-day terms from the next insertion order; collect the June media invoice	Operations and finance manager	2026-09-30	In progress	Harrowgate balance below one month of billing
Confirm the EUR 300k overdraft through FY2027 and pre-agree drawing mechanics for the weeks around the 10th	Operations and finance manager	2026-10-15	Open	Facility letter on file
Cross-train one content producer into design production before the Quillfield campaign	Head of delivery (founder until April)	2026-10-15	Open	Design freelancer hours down by half in Q4
Link each delivery hire to signed work: January developer only on the Ferncliff signature, March designer only on Brackenholt	Founder and CEO	2026-12-15	Open	No hire without a signed statement of work
FX clause in new UK and US statements of work; review forward cover once GBP receipts are predictable	Operations and finance manager	2026-11-30	Open	Clause in every new contract
Downside plan: triggers (renewal, utilisation, overservicing, media balances), the capacity response and the order of cash levers	BriQs CFO	2026-10-15	Open	Plan approved by the founder and attached to the October pack

4. How the model works

Inputs_Actuals holds the actual months and the opening balance sheet; Client_Register and Project_Register hold client terms, currencies, VAT class, retainer contracts and projects; Assumptions holds tax rates, rate card, salaries, the role mix, the timeline and the scenario drivers (selector in C11). Retainers, Projects and TM_Media run each stream in the invoice currency. Utilisation turns hours by work type into demand by role, compares it with capacity and buys the excess from freelancers. Clients consolidates each client (revenue, hours, invoicing incl. VAT, receipts, receivable, contract position) and FX translates and revalues every currency. People, Overheads, Payables, VAT, Fixed_Assets and Financing roll costs and balances. PL, BS and CF link only to schedules. BvA, Pipeline, Client_Profitability, KPIs, Scenarios, Cash_13W, the agings and CFO_Report are reporting layers.

5. Methods an agency CFO will look for

Model guide
Area	Treatment
Net revenue	Revenue less production bought in. Media spend rebilled at cost is not revenue (agent, IFRS 15.B34 to B37); the media management fee is. Production recharged with a mark-up is revenue gross (principal). Gross billings shown as a memo.
Retainers	Earned evenly each month (IFRS 15.35(a)); quarterly advance invoices are contract liabilities (IFRS 15.106). Scoped vs worked hours give overservicing hours and cost at standard. Renewal probabilities by contract and scenario; pipeline retainers win-weighted.
Projects	Over time (IFRS 15.35(c)), measured on hours (input method, IFRS 15.B18 to B19); milestone invoicing gives contract assets and liabilities; forecast hours on an S-curve; overruns by scenario; approved change requests in contract value.
Utilisation and realisation	Own billable hours / productive hours by role; freelancers above 88% of capacity; realisation = fee revenue / standard value at the rate card; standard cost rates set to recover payroll at 75% utilisation, so the recovery variance shows idle capacity in euros.
Client profitability	Contribution = net revenue less hours at standard cost; delivery variance allocated by hours; leadership, bonus, overheads and bad debts by net revenue; allocated net contributions add back to EBITDA (checked). Concentration: largest client and top five.
FX	Flows at the monthly average rate, balances at the month-end rate, revaluation to the P&L (IAS 21.23 and 21.28); receipts converted on arrival.
Working capital	Per-client receivables with days to collect; media platforms paid in 30 days; aging in invoice currency tied to the ledger by currency.
New business	Revenue split by security (in term, renewal-weighted, signed projects, pipeline, run-rate); renewal calendar with value at risk; CRM win rates; a labelled run-rate of new project wins for FY2027 sized on the FY2026 win record.

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

Monthly average FX rates are the mean of the opening and closing ECB month-end rates; forecast rates hold the last month-end rate, shifted by scenario.
Hours by role follow a fixed mix per work type (Assumptions); productive hours per FTE follow a 12-month profile with July leave.
Standard cost rates recover payroll at 75% utilisation; freelancers take demand above 88% of each role.
Renewal and win probabilities by contract and scenario; hires tied to pipeline work carry the same probability; the FY2027 run-rate of new project wins is EUR 240k of fees a quarter at 85% in the Base.
All staff contribute 2% to the funded pension and use the basic exemption through this employer; pay inflation 4.5% and overhead inflation 3% from FY2027.
Media platforms invoice in EUR monthly on 30 days; receipts are converted to EUR on arrival; no GBP or USD cash is held.
Contract positions are netted per client; leavers are replaced like for like; the bonus (5% of gross pay with employer taxes) is paid in March.

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.

Executive review

Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

3. What the numbers say (Base)

Model guide
Measure	Value
YTD Aug-26 net revenue vs budget	EUR 2,548k against EUR 2,722k; variance (6.4%)
YTD EBITDA vs budget	EUR 307k (12.1% of net revenue) against EUR 519k (19.1%)
FY2026 net revenue, EBITDA, net profit	EUR 3,938k, EUR 583k (14.8%), EUR 428k
FY2027 net revenue, EBITDA	EUR 4,189k, EUR 539k (12.9%)
Utilisation and realisation, YTD	70.8% of productive hours; 84.8% of the rate card
Largest client and top five, FY2026	Halvergate 18.7% of net revenue; top five 48.7%
13-week low	EUR 374k in the week ending 02 Oct 2026
Lowest forecast month-end cash	EUR 339k in Sep-26, on payroll day: EUR 11k below the EUR 350k buffer

Model guide
Scenario (negatives in brackets)	FY2027 net revenue	FY2027 EBITDA	Lowest month-end cash
Base	EUR 4,189k	EUR 539k; margin 12.9%	EUR 339k
Downside	EUR 2,837k	(EUR 170k); margin (6.0%)	EUR 50k
Upside	EUR 4,808k	EUR 1,081k; margin 22.5%	EUR 351k

Scenario comparison
Measure	Unit	Base	Downside	Upside
FY2026 net revenue (outlook)	EUR	3,937,675.9212	3,761,827.1051	4,011,809.0013
FY2027 net revenue	EUR	4,189,215.8677	2,837,022.1528	4,807,958.0953
FY2026 delivery contribution %	%	39.72%	37.59%	40.84%
FY2026 EBITDA	EUR	583,450.5013	493,231.2809	653,400.9472
FY2026 EBITDA % of net revenue	%	14.82%	13.11%	16.29%
FY2026 net profit	EUR	428,478.2843	317,750.3208	515,210.6748
FY2027 delivery contribution %	%	38.77%	23.79%	45.73%
FY2027 EBITDA	EUR	538,595.2457	-169,791.908	1,080,997.7921
FY2027 EBITDA % of net revenue	%	12.86%	-5.98%	22.48%
FY2027 net profit	EUR	377,658.9321	-267,239.5746	893,060.0711
Cash at 31-Dec-26	EUR	612,534.283	252,820.3371	665,425.5662
Cash at 31-Dec-27	EUR	803,759.8606	50,030.884	1,257,727.7431
Lowest month-end cash, Sep-26 to Dec-27	EUR	339,326.2395	50,030.884	350,573.4146
Month of the lowest cash	month	2026-09-30	2027-12-31	2026-09-30
Headroom at the lowest point vs the cash buffer (negative = shortfall)	EUR	-10,673.7605	-299,969.116	573.4146
FY2027 utilisation (own staff)	%	68.17%	62.77%	72.33%
FY2027 realisation	%	88.23%	81.27%	92.28%
FY2027 retainer fees	EUR	2,425,082.9336	1,464,956.1144	2,704,725.8744
FY2027 largest client share of net revenue	%	17.76%	17.77%	18.21%
FY2027 fee revenue not yet won (share)	%	27.74%	26.67%	31.44%
FY2027 FX gains / (losses)	EUR	0	0	0
Headcount at Dec-27	number	41.85	34	42.15

P&L & budget

Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

PROFIT AND LOSS
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Retainer fees	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	198,790.6958	185,290.6958	185,290.6958	185,290.6958	132,498.3411	132,498.3411	128,998.3411	122,990.5623	122,990.5623	124,253.5582	118,387.7347	118,387.7347	118,387.7347	115,187.7347	115,187.7347	115,187.7347	2,243,951.0181	1,464,956.1144
Fixed-fee project fees	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	88,944.625	54,647.8052	31,001.8345	39,673.1839	49,183.9449	34,949.3724	32,522.5981	54,977.1481	68,351.1083	79,316.0771	78,768.3436	68,182.0383	72,832.9003	64,496.9296	49,728	59,136	813,972.5017	712,444.4608
Time and materials	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	33,303.601	29,595.2242	40,155.662	36,895.9525	37,446.0124	38,717.0875	29,519.827	38,965.4466	35,472.7951	42,129.6715	39,047.0126	31,340.3654	39,047.0126	37,505.6832	40,588.342	38,533.2361	38,533.2361	35,450.5772	28,771.483	34,936.8008	40,588.342	42,129.6715	39,047.0126	31,340.3654	432,588.6578	446,471.7625
Media management fees	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	19,530.4067	19,335.0268	21,595.5016	23,771.4365	23,099.434	22,018.8784	21,094.5728	22,676.7917	20,278.0385	22,305.8423	27,375.352	24,333.6462	16,933.3927	16,933.3927	18,284.3066	18,135.2021	18,135.2021	17,228.4419	14,387.2962	15,233.6077	16,926.2308	17,826.8539	21,878.4116	19,447.4769	267,414.9275	211,349.8151
Production recharged to clients (principal)	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	0	0	0	0	0	0	4,830	6,440	2,325.5556	1,788.8889	5,965.5556	11,550	11,550	5,250	0	0	0	0	0	0	0	0	0	0	32,900	16,800
REVENUE	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)		284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	361,734.5251	382,711.3088	345,811.71	306,162.9037	288,680.4504	292,187.8912	249,212.6912	227,136.7893	220,393.5878	234,636.1486	248,010.1088	256,248.6545	240,314.8575	236,740.1815	248,735.2079	239,641.1897	225,841.1589	225,111.5771	3,790,827.1051	2,852,022.1528
Production bought in (photography, print, video)	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	Projects	0	0	0	0	0	0	-4,200	-5,600	-2,022.2222	-1,555.5556	-5,309.7222	-10,312.5	-10,312.5	-4,687.5	0	0	0	0	0	0	0	0	0	0	-29,000	-15,000
NET REVENUE	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	revenue - production bought in	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	357,534.5251	377,111.3088	343,789.4877	304,607.3482	283,370.7282	281,875.3912	238,900.1912	222,449.2893	220,393.5878	234,636.1486	248,010.1088	256,248.6545	240,314.8575	236,740.1815	248,735.2079	239,641.1897	225,841.1589	225,111.5771	3,761,827.1051	2,837,022.1528
Net revenue growth vs prior month (memo)	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)			-7.48%	6.64%	8.75%	5.52%	10.53%	0.33%	5.48%	-8.84%	-11.4%	-6.97%	-0.53%	-15.25%	-6.89%	-0.92%	6.46%	5.7%	3.32%	-6.22%	-1.49%	5.07%	-3.66%	-5.76%	-0.32%
Delivery team payroll (incl. social tax and unemployment insurance)	DELIVERY COSTS	People	-178,119.912	-177,361.266	-180,349.02	-186,427.554	-177,691.752	-177,287.676	-183,008.964	-184,003.098	-181,566.6	-181,566.6	-181,566.6	-181,566.6	-189,737.097	-189,737.097	-189,737.097	-166,738.661	-166,738.661	-166,738.661	-166,738.661	-166,738.661	-166,738.661	-166,738.661	-166,738.661	-166,738.661	-2,170,515.642	-2,069,859.24
Freelancers	DELIVERY COSTS	Utilisation	-5,062.83	-5,921.18	-5,125.2	-6,532.51	-5,209.98	-25,536.25	-59,683.52	-32,476.4	-10,753.2372	-5,500	-5,500	-10,109.5346	-5,747.5	-5,747.5	-5,747.5	-6,055.0545	-6,055.0545	-8,594.2155	-18,884.2403	-8,252.4198	-5,747.5	-5,747.5	-5,747.5	-9,899.8246	-177,410.6418	-92,225.8092
TOTAL DELIVERY COSTS	DELIVERY COSTS		-183,182.742	-183,282.446	-185,474.22	-192,960.064	-182,901.732	-202,823.926	-242,692.484	-216,479.498	-192,319.8372	-187,066.6	-187,066.6	-191,676.1346	-195,484.597	-195,484.597	-195,484.597	-172,793.7155	-172,793.7155	-175,332.8765	-185,622.9013	-174,991.0808	-172,486.161	-172,486.161	-172,486.161	-176,638.4856	-2,347,926.2838	-2,162,085.0492
DELIVERY CONTRIBUTION	DELIVERY COSTS	net revenue - delivery costs	101,608.1956	80,193.3975	95,494.488	112,579.8349	139,506.7685	153,530.5014	114,842.0411	160,631.8108	151,469.6505	117,540.7482	96,304.1282	90,199.2567	43,415.5942	26,964.6923	24,908.9908	61,842.4331	75,216.3933	80,915.778	54,691.9561	61,749.1008	76,249.0469	67,155.0287	53,354.9979	48,473.0915	1,413,900.8213	674,937.1036
Delivery contribution % of net revenue	DELIVERY COSTS		35.68%	30.44%	33.99%	36.85%	43.27%	43.08%	32.12%	42.6%	44.06%	38.59%	33.99%	32%	18.17%	12.12%	11.3%	26.36%	30.33%	31.58%	22.76%	26.08%	30.65%	28.02%	23.63%	21.53%	37.59%	23.79%
Leadership, new business and operations payroll	OPERATING COSTS	People	-32,882.688	-32,680.65	-32,252.49	-32,853.252	-32,399.67	-32,649.876	-32,562.906	-32,718.114	-32,647.2	-32,647.2	-32,647.2	-32,647.2	-34,116.324	-34,116.324	-34,116.324	-34,116.324	-34,116.324	-34,116.324	-34,116.324	-34,116.324	-34,116.324	-34,116.324	-34,116.324	-34,116.324	-391,588.446	-409,395.888
Bonus accrual (all staff, incl. employer taxes)	OPERATING COSTS	People	-10,550.13	-10,502.0958	-10,630.0755	-10,964.0403	-10,504.5711	-10,496.8776	-10,778.5935	-10,836.0606	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-85,262.4444	0
Rent and service charges, Tallinn office	OPERATING COSTS	Overheads	-9,198	-10,089	-10,207	-9,251	-8,699	-9,141	-9,100	-9,186	-9,400	-9,400	-9,400	-9,400	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-112,471	-116,184
Software and tools	OPERATING COSTS	Overheads	-6,492	-6,219	-6,515	-6,180	-6,716	-6,127	-6,748	-6,413	-6,500	-6,500	-6,500	-6,500	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-77,410	-80,340
Client travel (UK, US, EU)	OPERATING COSTS	Overheads	-3,394	-6,861	-6,969	-6,196	-6,591	-4,368	-2,245	-3,033	-4,335	-4,335	-4,335	-4,335	-4,465.05	-4,465.05	-4,465.05	-4,465.05	-4,465.05	-4,465.05	-4,465.05	-4,465.05	-4,465.05	-4,465.05	-4,465.05	-4,465.05	-56,997	-53,580.6
New business, awards and events	OPERATING COSTS	Overheads	-2,068	-3,304	-3,646	-4,548	-9,013	-4,228	-1,510	-2,581	-3,145	-3,145	-3,145	-3,145	-3,239.35	-3,239.35	-3,239.35	-3,239.35	-3,239.35	-3,239.35	-3,239.35	-3,239.35	-3,239.35	-3,239.35	-3,239.35	-3,239.35	-43,478	-38,872.2
Recruitment	OPERATING COSTS	Overheads	-800	-800	-5,300	-800	-800	-800	-5,300	-800	-800	-800	-800	-800	-824	-824	-824	-824	-824	-824	-824	-824	-824	-824	-824	-824	-18,600	-9,888
Training and conferences	OPERATING COSTS	Overheads	-2,451	-2,109	-1,927	-2,264	-2,331	-2,140	-2,328	-2,224	-1,870	-1,870	-1,870	-1,870	-1,926.1	-1,926.1	-1,926.1	-1,926.1	-1,926.1	-1,926.1	-1,926.1	-1,926.1	-1,926.1	-1,926.1	-1,926.1	-1,926.1	-25,254	-23,113.2
Accounting, legal and professional fees	OPERATING COSTS	Overheads	-2,542	-2,755	-2,762	-2,741	-2,746	-2,612	-2,401	-2,568	-2,600	-2,600	-2,600	-2,600	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-31,527	-32,136
Insurance (professional indemnity, cyber)	OPERATING COSTS	Overheads	-892	-811	-940	-894	-821	-944	-798	-828	-900	-900	-900	-900	-927	-927	-927	-927	-927	-927	-927	-927	-927	-927	-927	-927	-10,528	-11,124
Office and administration	OPERATING COSTS	Overheads	-2,141	-2,044	-1,753	-2,033	-1,969	-1,948	-2,051	-1,806	-2,100	-2,100	-2,100	-2,100	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-24,145	-25,956
IT support and equipment leases	OPERATING COSTS	Overheads	-1,684	-1,670	-2,012	-1,831	-2,054	-2,015	-1,685	-2,113	-1,900	-1,900	-1,900	-1,900	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-22,664	-23,484
Bank, payment and FX charges	OPERATING COSTS	Overheads	-1,283	-978	-1,053	-1,177	-1,138	-1,127	-1,120	-1,028	-1,150	-1,150	-1,150	-1,150	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-13,504	-14,214
Bad debts (specific provision)	OPERATING COSTS	Receivables	0	0	0	0	0	-7,240.65	0	0	0	0	0	0	0	-6,441.1236	0	0	0	0	0	0	0	0	0	0	-7,240.65	-6,441.1236
TOTAL OPERATING COSTS	OPERATING COSTS		-76,377.818	-80,822.7458	-85,966.5655	-81,732.2923	-85,782.2411	-85,837.4036	-78,627.4995	-76,134.1746	-67,347.2	-67,347.2	-67,347.2	-67,347.2	-69,857.324	-76,298.4476	-69,857.324	-69,857.324	-69,857.324	-69,857.324	-69,857.324	-69,857.324	-69,857.324	-69,857.324	-69,857.324	-69,857.324	-920,669.5404	-844,729.0116
EBITDA	OPERATING COSTS		25,230.3776	-629.3483	9,527.9225	30,847.5426	53,724.5274	67,693.0978	36,214.5416	84,497.6362	84,122.4505	50,193.5482	28,956.9282	22,852.0567	-26,441.7298	-49,333.7552	-44,948.3332	-8,014.8909	5,359.0693	11,058.454	-15,165.3679	-8,108.2232	6,391.7229	-2,702.2953	-16,502.3261	-21,384.2325	493,231.2809	-169,791.908
EBITDA % of net revenue	OPERATING COSTS		8.86%	-0.24%	3.39%	10.1%	16.66%	19%	10.13%	22.41%	24.47%	16.48%	10.22%	8.11%	-11.07%	-22.18%	-20.39%	-3.42%	2.16%	4.32%	-6.31%	-3.42%	2.57%	-1.13%	-7.31%	-9.5%	13.11%	-5.98%
Depreciation	BELOW EBITDA	Fixed_Assets	-5,983.3333	-6,022.2222	-6,108.3333	-6,252.7778	-6,277.7778	-6,344.4444	-6,477.7778	-6,522.2222	-6,600	-6,677.7778	-6,755.5556	-6,833.3333	-6,914.6111	-6,995.8889	-7,677.1667	-7,758.4444	-7,839.7222	-7,921	-8,002.2778	-8,083.5556	-8,164.8333	-8,246.1111	-8,327.3889	-8,408.6667	-76,855.5556	-94,339.6667
EBIT	BELOW EBITDA		19,247.0443	-6,651.5705	3,419.5892	24,594.7649	47,446.7496	61,348.6534	29,736.7638	77,975.414	77,522.4505	43,515.7704	22,201.3726	16,018.7233	-33,356.3409	-56,329.6441	-52,625.4998	-15,773.3353	-2,480.6529	3,137.454	-23,167.6457	-16,191.7788	-1,773.1104	-10,948.4064	-24,829.715	-29,792.8992	416,375.7253	-264,131.5746
FX gains / (losses) on client balances	BELOW EBITDA	FX	-800.6979	-1,448.5772	6,340.4465	-2,443.0889	794.5139	7,283.5668	-524.2913	-2,859.0624	-20,869.8542	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-14,527.0446	0
Loan interest	BELOW EBITDA	Financing	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-336	-322	-308	-294	-280	-266	-252	-238	-224	-210	-196	-182	-5,124	-3,108
PROFIT BEFORE TAX	BELOW EBITDA		17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	68,198.2202	28,792.4725	74,710.3516	56,260.5963	43,137.7704	21,837.3726	15,668.7233	-33,692.3409	-56,651.6441	-52,933.4998	-16,067.3353	-2,760.6529	2,871.454	-23,419.6457	-16,429.7788	-1,997.1104	-11,158.4064	-25,025.715	-29,974.8992	396,724.6808	-267,239.5746
Income tax on distributions (22/78 of dividends declared)	BELOW EBITDA	Financing	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-78,974.36	0
NET PROFIT	BELOW EBITDA		17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	-10,776.1398	28,792.4725	74,710.3516	56,260.5963	43,137.7704	21,837.3726	15,668.7233	-33,692.3409	-56,651.6441	-52,933.4998	-16,067.3353	-2,760.6529	2,871.454	-23,419.6457	-16,429.7788	-1,997.1104	-11,158.4064	-25,025.715	-29,974.8992	317,750.3208	-267,239.5746
Net profit % of net revenue	BELOW EBITDA		6.3%	-3.26%	3.3%	7.1%	14.82%	-3.02%	8.05%	19.81%	16.36%	14.16%	7.71%	5.56%	-14.1%	-25.47%	-24.02%	-6.85%	-1.11%	1.12%	-9.75%	-6.94%	-0.8%	-4.66%	-11.08%	-13.32%	8.45%	-9.42%
Gross billings ex VAT (revenue + media spend rebilled)	MEMO	FX	482,249.7418	458,766.4182	500,028.2106	546,540.7887	557,316.2949	579,747.2781	576,496.7906	612,918.4401	551,348.6018	532,253.4848	566,155.2544	538,832.1615	421,394.5493	399,318.6474	406,419.6351	419,338.6761	432,712.6363	431,716.0557	385,893.9439	390,882.7437	420,004.7214	420,117.6546	447,335.0021	421,994.9933	6,502,653.4655	4,997,129.2589
People cost (payroll, bonus, freelancers) % of net revenue	MEMO		79.57%	85.95%	81.27%	77.49%	70.04%	69.02%	80%	68.95%	65.44%	72.13%	77.54%	79.58%	96.11%	103.21%	104.18%	88.18%	83.43%	81.74%	91.44%	88.33%	83.06%	86.21%	91.48%	93.62%	75.09%	90.64%

ORIGINAL FY2026 BUDGET (APPROVED DEC-25, FICTIONAL)
Measure	Section	Basis	2026-01 Budget	2026-02 Budget	2026-03 Budget	2026-04 Budget	2026-05 Budget	2026-06 Budget	2026-07 Budget	2026-08 Budget	2026-09 Budget	2026-10 Budget	2026-11 Budget	2026-12 Budget	FY2026
Retainer hours	HOURS	budget input	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	24,360
Project hours	HOURS	budget input	913	978	1,043	1,000	957	1,022	913	935	1,087	1,130	1,065	848	11,891
Time and materials hours	HOURS	budget input	494	475	514	488	488	449	364	442	514	533	494	397	5,652
Media management hours	HOURS	budget input	245	245	245	245	245	245	245	245	245	245	245	245	2,940
TOTAL BILLABLE HOURS	HOURS		3,682	3,728	3,832	3,763	3,720	3,746	3,552	3,652	3,876	3,938	3,834	3,520	44,843
Retainer fees	REVENUE AND NET REVENUE	budget input	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	2,265,972
Fixed-fee project fees	REVENUE AND NET REVENUE	budget input	84,000	90,000	96,000	92,000	88,000	94,000	84,000	86,000	100,000	104,000	98,000	78,000	1,094,000
Time and materials	REVENUE AND NET REVENUE	budget input	42,504	40,826	44,182	41,945	41,945	38,589	31,319	38,030	44,182	45,860	42,504	34,115	486,001
Media management fees	REVENUE AND NET REVENUE	budget input	20,400	20,400	22,800	24,000	24,000	22,800	20,400	21,600	24,000	26,400	32,400	28,800	288,000
Production recharged to clients (principal)	REVENUE AND NET REVENUE	budget input	0	0	0	0	0	3,000	6,000	6,000	12,000	14,000	10,000	4,000	55,000
REVENUE	REVENUE AND NET REVENUE		335,735	340,057	351,813	346,776	342,776	347,220	330,550	340,461	369,013	379,091	371,735	333,746	4,188,973
Production bought in	REVENUE AND NET REVENUE	budget input	0	0	0	0	0	-2,632	-5,263	-5,263	-10,526	-12,281	-8,772	-3,509	-48,246
NET REVENUE	REVENUE AND NET REVENUE		335,735	340,057	351,813	346,776	342,776	344,588	325,287	335,198	358,487	366,810	362,963	330,237	4,140,727
Delivery team payroll	COSTS	budget input	-179,292	-179,292	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-2,210,374
Freelancers	COSTS	budget input	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-144,000
TOTAL DELIVERY COSTS	COSTS		-191,292	-191,292	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-2,354,374
DELIVERY CONTRIBUTION	COSTS		144,443	148,765	154,634	149,597	145,597	147,409	128,108	138,019	161,308	169,631	165,784	133,058	1,786,353
Leadership, new business and operations payroll	COSTS	budget input	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-391,764
Bonus accrual	COSTS	budget input	-10,597	-10,597	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-130,104
Rent and service charges, Tallinn office	COSTS	budget input	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-112,800
Software and tools	COSTS	budget input	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-74,400
Client travel (UK, US, EU)	COSTS	budget input	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-60,000
New business, awards and events	COSTS	budget input	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-43,200
Recruitment	COSTS	budget input	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-19,200
Training and conferences	COSTS	budget input	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-26,400
Accounting, legal and professional fees	COSTS	budget input	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-30,000
Insurance (professional indemnity, cyber)	COSTS	budget input	-900	-900	-900	-900	-900	-900	-900	-900	-900	-900	-900	-900	-10,800
Office and administration	COSTS	budget input	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-24,000
IT support and equipment leases	COSTS	budget input	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-21,600
Bank, payment and FX charges	COSTS	budget input	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-12,000
Bad debts	COSTS	budget input	0	0	0	0	0	0	0	0	0	0	0	0	0
TOTAL OPERATING COSTS	COSTS		-79,444	-79,444	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-956,268
EBITDA	COSTS		64,999	69,321	74,896	69,859	65,859	67,671	48,370	58,281	81,570	89,893	86,046	53,320	830,085
Depreciation	COSTS	budget input	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-64,800
FX gains / (losses)	COSTS	budget input	0	0	0	0	0	0	0	0	0	0	0	0	0
Loan interest	COSTS	budget input	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-5,124
PROFIT BEFORE TAX	COSTS		59,095	63,431	69,020	63,997	60,011	61,837	42,550	52,475	75,778	84,115	80,282	47,570	760,161
Income tax on distributions (June dividend)	COSTS	budget input	0	0	0	0	0	-78,974	0	0	0	0	0	0	-78,974
NET PROFIT	COSTS		59,095	63,431	69,020	63,997	60,011	-17,137	42,550	52,475	75,778	84,115	80,282	47,570	681,187
Cash at bank	BUDGETED MONTH-END BALANCES	budget balance	539,000	597,000	528,000	585,000	639,000	415,000	374,000	422,000	490,000	567,000	639,000	682,000	682,000
Trade receivables	BUDGETED MONTH-END BALANCES	budget balance	585,000	591,000	625,000	628,000	623,000	619,000	579,000	601,000	656,000	688,000	728,000	651,000	651,000
Contract assets less contract liabilities	BUDGETED MONTH-END BALANCES	budget balance	37,000	37,000	38,000	37,000	37,000	38,000	37,000	37,000	38,000	38,000	38,000	36,000	36,000

Budget vs actual / rows
label	ytd actual	ytd budget	ytd variance	ytd variance pct	fy outlook	fy budget	fy variance	fy variance pct	commentary
Retainer hours	16,404.9	16,240	164.9	1.02%	24,844.1058	24,360	484.1058	1.99%
Project hours	6,548.2	7,761	-1,212.8	-15.63%	9,025.1706	11,891	-2,865.8294	-24.1%	First-half projects started later than budgeted; Norbeck absorbed hours without fees.
Time and materials hours	3,195.3	3,714	-518.7	-13.97%	4,951.1389	5,652	-700.8611	-12.4%
Media management hours	1,960	1,960	0	0%	2,940	2,940	0	0%
Retainer fees	1,489,288.235	1,510,648	-21,359.765	-1.41%	2,243,951.0181	2,265,972	-22,020.9819	-0.97%	Quillfield started in April against a January budget; Pellworth won in June (not budgeted); overservicing 1,870 hours.
Fixed-fee project fees	599,705.0531	714,000	-114,294.9469	-16.01%	813,972.5017	1,094,000	-280,027.4983	-25.6%	Hours effect EUR -112k, rate effect EUR -3k (bridge below).
Time and materials	284,598.8132	319,340	-34,741.1868	-10.88%	432,588.6578	486,001	-53,412.3422	-10.99%
Media management fees	173,122.0486	176,400	-3,277.9514	-1.86%	267,414.9275	288,000	-20,585.0725	-7.15%	Client media spend below the budgeted level; fee rates unchanged.
Production recharged to clients (principal)	11,270	15,000	-3,730	-24.87%	32,900	55,000	-22,100	-40.18%
REVENUE	2,557,984.1498	2,735,388	-177,403.8502	-6.49%	3,790,827.1051	4,188,973	-398,145.8949	-9.5%
Production bought in	-9,800	-13,158	3,358	25.52%	-29,000	-48,246	19,246	39.89%
NET REVENUE	2,548,184.1498	2,722,230	-174,045.8502	-6.39%	3,761,827.1051	4,140,727	-378,899.8949	-9.15%
Delivery team payroll	-1,444,249.242	-1,469,658	25,408.758	1.73%	-2,170,515.642	-2,210,374	39,858.358	1.8%	Developer hired in April; one content producer left in May, not replaced.
Freelancers	-145,547.87	-96,000	-49,547.87	-51.61%	-177,410.6418	-144,000	-33,410.6418	-23.2%	Development and design at capacity from June: freelancers covered the peak.
DELIVERY CONTRIBUTION	958,387.0378	1,156,572	-198,184.9622	-17.14%	1,413,900.8213	1,786,353	-372,452.1787	-20.85%
Delivery contribution %	0.3761	0.4249	-0.0488		0.3759	0.4314	-0.0556
Leadership, new business and operations payroll	-260,999.646	-261,176	176.354	0.07%	-391,588.446	-391,764	175.554	0.04%
Bonus accrual	-85,262.4444	-86,540	1,277.5556	1.48%	-85,262.4444	-130,104	44,841.5556	34.47%
Rent and service charges, Tallinn office	-74,871	-75,200	329	0.44%	-112,471	-112,800	329	0.29%
Software and tools	-51,410	-49,600	-1,810	-3.65%	-77,410	-74,400	-3,010	-4.05%
Client travel (UK, US, EU)	-39,657	-40,000	343	0.86%	-56,997	-60,000	3,003	5%
New business, awards and events	-30,898	-28,800	-2,098	-7.28%	-43,478	-43,200	-278	-0.64%
Recruitment	-15,400	-12,800	-2,600	-20.31%	-18,600	-19,200	600	3.12%
Training and conferences	-17,774	-17,600	-174	-0.99%	-25,254	-26,400	1,146	4.34%
Accounting, legal and professional fees	-21,127	-20,000	-1,127	-5.63%	-31,527	-30,000	-1,527	-5.09%
Insurance (professional indemnity, cyber)	-6,928	-7,200	272	3.78%	-10,528	-10,800	272	2.52%
Office and administration	-15,745	-16,000	255	1.59%	-24,145	-24,000	-145	-0.6%
IT support and equipment leases	-15,064	-14,400	-664	-4.61%	-22,664	-21,600	-1,064	-4.93%
Bank, payment and FX charges	-8,904	-8,000	-904	-11.3%	-13,504	-12,000	-1,504	-12.53%
Bad debts	-7,240.65	0	-7,240.65	0%	-7,240.65	0	-7,240.65	0%	Half of the disputed Norbeck change request CR-03 provided in June.
TOTAL OPERATING COSTS	-651,280.7404	-637,316	-13,964.7404	-2.19%	-920,669.5404	-956,268	35,598.4596	3.72%
EBITDA	307,106.2974	519,256	-212,149.7026	-40.86%	493,231.2809	830,085	-336,853.7191	-40.58%	EUR 212k behind budget YTD; EUR 337k on the full-year outlook.
EBITDA % of net revenue	0.1205	0.1907	-0.0702		0.1311	0.2005	-0.0694
FX gains / (losses)	6,342.8096	0	6,342.8096	0%	-14,527.0446	0	-14,527.0446	0%
NET PROFIT	180,845.8582	393,442	-212,596.1418	-54.03%	317,750.3208	681,187	-363,436.6792	-53.35%
Cash at bank	367,888.0493	422,000	-54,111.9507	-12.82%	252,820.3371	682,000	-429,179.6629	-62.93%
Trade receivables	599,808.5013	601,000	-1,191.4987	-0.2%	918,732.5778	651,000	267,732.5778	41.13%
Contract assets less contract liabilities	104,460.9211	37,000	67,460.9211	182.33%	46,209.8769	36,000	10,209.8769	28.36%	Unbilled work on Norbeck and Van Lienden between milestones.

Budget vs actual / net revenue bridge ytd
Stream	Actual net revenue YTD	Budget net revenue YTD	Actual hours YTD	Budget hours YTD	Actual rate	Budget rate	Hours effect	Rate effect	Total variance
Retainers	1,489,288.235	1,510,648	16,404.9	16,240	90.7831	93.0202	15,339.0305	-36,698.7955	-21,359.765
Fixed-fee projects	599,705.0531	714,000	6,548.2	7,761	91.5832	91.9985	-111,575.7248	-2,719.2222	-114,294.9469
Time and materials	284,598.8132	319,340	3,195.3	3,714	89.0679	85.9828	-44,599.2617	9,858.0749	-34,741.1868
Media management	173,122.0486	176,400	1,960	1,960	88.3276	90	0	-3,277.9514	-3,277.9514
Production mark-up (no hours)	1,470	1,842					-372	0	-372
TOTAL	2,548,184.1498	2,722,230	28,108.4	29,675			-141,207.956	-32,837.8942	-174,045.8502

Budget vs actual / ebitda walk ytd
step	value
Budget EBITDA YTD	519,256
Net revenue variance	-174,045.8502
Delivery payroll variance	25,408.758
Freelancer variance	-49,547.87
Leadership, new business and operations payroll and bonus variance	1,453.9096
Overheads and bad debts variance	-15,418.65
Actual EBITDA YTD	307,106.2974

Balance sheet & cash flow

Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

BALANCE SHEET
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Cash at bank	ASSETS	CF	492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	80,801.1249	117,731.087	200,179.907	252,820.3371	271,113.2525	292,403.9226	208,915.3123	131,311.862	114,310.4174	131,460.876	92,451.8815	112,607.1231	139,871.0338	78,487.9102	56,929.2598	50,030.884	252,820.3371	50,030.884
Trade receivables, net of the specific provision	ASSETS	Receivables	698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	725,543.8052	696,742.6615	599,808.5013	905,032.1543	1,019,366.1285	1,032,841.7013	918,732.5778	852,514.3915	746,140.4344	690,248.7752	749,103.679	748,400.1403	684,901.4169	742,791.9586	681,775.7328	613,970.8738	740,188.7381	775,635.9656	704,923.4353	918,732.5778	704,923.4353
Contract assets (work done, not yet invoiced)	ASSETS	FX	56,471.5504	71,124.6723	75,450.8687	36,916.5417	66,622.8948	38,781.8119	79,499.3444	137,974.4649	104,563.343	74,163.9546	39,047.0126	51,241.1269	60,350.685	42,536.9332	48,548.6467	48,890.7797	47,525.4321	41,754.5104	41,907.483	42,686.906	62,035.3476	50,865.6715	39,047.0126	31,340.3654	51,241.1269	31,340.3654
Prepayments and deposits	ASSETS	opening balance, no movement modelled	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000
Fixed assets, net book value	ASSETS	Fixed_Assets	137,616.6667	132,994.4444	129,986.1111	128,933.3333	123,555.5556	119,611.1111	117,933.3333	113,011.1111	109,211.1111	105,333.3333	101,377.7778	97,344.4444	93,355.8333	89,285.9444	120,534.7778	115,702.3333	110,788.6111	105,793.6111	100,717.3333	95,559.7778	90,320.9444	85,000.8333	79,599.4444	74,116.7778	97,344.4444	74,116.7778
TOTAL ASSETS	ASSETS		1,423,473.0841	1,438,383.349	1,403,210.6626	1,418,803.558	1,430,374.8232	1,194,424.2035	1,210,339.3242	1,256,682.1266	1,237,607.7334	1,354,594.5034	1,411,446.3987	1,358,138.4863	1,315,334.1623	1,208,367.2347	1,106,247.512	1,083,008.654	1,059,024.6009	1,001,910.4144	1,015,868.6564	970,629.5397	944,198.1997	992,543.1531	989,211.6824	898,411.4624	1,358,138.4863	898,411.4624
Trade payables: freelancers	LIABILITIES	Payables	3,639.1517	4,316.465	3,396.7242	4,501.8351	3,824.9532	20,329.9532	47,535.2511	25,256.1655	7,857.032	4,018.6667	4,018.6667	7,386.6999	4,199.5067	4,199.5067	4,199.5067	4,424.2265	4,424.2265	6,279.5068	13,798.0849	6,029.768	4,199.5067	4,199.5067	4,199.5067	7,233.4718	7,386.6999	7,233.4718
Trade payables: media platforms	LIABILITIES	Payables	194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	205,536.8919	226,090.5811	277,474.804	246,644.2703	172,181.8581	172,181.8581	186,026.0473	184,702.5275	184,702.5275	175,467.4012	145,579.0865	154,142.5622	171,269.5135	180,476.4649	221,493.8432	196,883.4162	246,644.2703	196,883.4162
Trade payables: production suppliers	LIABILITIES	Payables	0	0	0	0	0	0	5,191.28	6,911.34	2,507.5556	1,928.8889	6,584.0556	12,787.5	12,787.5	5,812.5	0	0	0	0	0	0	0	0	0	0	12,787.5	0
Trade payables: overhead suppliers	LIABILITIES	Payables	24,604.464	26,075.648	33,979.422	24,448.882	27,001.648	22,879.108	25,041.492	22,728.426	24,027.06	24,027.06	24,027.06	24,027.06	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,027.06	24,747.8718
Payroll taxes payable (TSD)	LIABILITIES	People	86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	87,979.408	87,979.408	87,979.408	92,201.8214	92,201.8214	130,165.0661	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	87,979.408	82,743.8876
VAT payable / (recoverable)	LIABILITIES	VAT	2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-4,074.5371	1,658.8375	3,251.3269	3,762.7336	1,157.5222	-1,888.9185	-2,018.6036	-7,403.8265	-5,547.9194	1,617.093	1,147.1384	-456.7878	-21.3946	1,455.6427	2,208.1376	3,420.9603	2,180.0582	1,157.5222	2,180.0582
Contract liabilities (invoiced in advance)	LIABILITIES	FX	68,030.4779	80,699.323	71,738.6281	88,889.4266	55,026.4496	45,288.2198	89,828.5441	33,513.5438	6,560.0389	65,679.8919	47,143.6183	5,031.25	74,672.0879	34,461.4895	32,928	75,420.5487	50,032.1361	896.2963	65,247.8467	38,207.9568	0	52,543.9135	35,007.9568	0	5,031.25	0
Bonus provision	LIABILITIES	People	142,050.13	152,552.2258	31,682.3013	42,646.3416	53,150.9127	63,647.7903	74,426.3838	85,262.4444	85,262.4444	85,262.4444	85,262.4444	85,262.4444	85,262.4444	85,262.4444	0	0	0	0	0	0	0	0	0	0	85,262.4444	0
Income tax on distributions payable	LIABILITIES	Financing	0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan: current portion	LIABILITIES	Financing	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000
Bank loan: non-current portion	LIABILITIES	Financing	69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000	36,000	33,000	30,000	27,000	24,000	21,000	18,000	15,000	12,000	9,000	6,000	3,000	0	36,000	0
TOTAL LIABILITIES	LIABILITIES		627,418.7269	650,919.1395	606,462.4175	600,365.6369	564,143.6386	618,969.1588	606,091.8069	577,724.2577	502,389.2683	576,238.2678	611,252.7905	542,276.1548	533,164.1717	482,848.8882	433,662.6653	426,491.1427	405,267.7425	345,282.1021	382,659.9897	353,850.6518	329,416.4222	388,919.7821	410,614.0264	349,788.7056	542,276.1548	349,788.7056
Share capital	EQUITY	opening balance	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600
Retained earnings: opening (memo)	EQUITY		775,512.01	793,454.3564	784,864.2087	794,148.2444	815,837.9203	863,631.1838	572,855.044	601,647.5166	676,357.8682	732,618.4644	775,756.2348	797,593.6074	813,262.3308	779,569.9899	722,918.3458	669,984.8459	653,917.5106	651,156.8576	654,028.3116	630,608.666	614,178.8872	612,181.7767	601,023.3703	575,997.6554
Net profit (memo)	EQUITY	PL	17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	-10,776.1398	28,792.4725	74,710.3516	56,260.5963	43,137.7704	21,837.3726	15,668.7233	-33,692.3409	-56,651.6441	-52,933.4998	-16,067.3353	-2,760.6529	2,871.454	-23,419.6457	-16,429.7788	-1,997.1104	-11,158.4064	-25,025.715	-29,974.8992	317,750.3208	-267,239.5746
Dividends (memo)	EQUITY	Financing	0	0	0	0	0	280,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	280,000	0
Retained earnings	EQUITY		793,454.3564	784,864.2087	794,148.2444	815,837.9203	863,631.1838	572,855.044	601,647.5166	676,357.8682	732,618.4644	775,756.2348	797,593.6074	813,262.3308	779,569.9899	722,918.3458	669,984.8459	653,917.5106	651,156.8576	654,028.3116	630,608.666	614,178.8872	612,181.7767	601,023.3703	575,997.6554	546,022.7561	813,262.3308	546,022.7561
TOTAL EQUITY	EQUITY		796,054.3564	787,464.2087	796,748.2444	818,437.9203	866,231.1838	575,455.044	604,247.5166	678,957.8682	735,218.4644	778,356.2348	800,193.6074	815,862.3308	782,169.9899	725,518.3458	672,584.8459	656,517.5106	653,756.8576	656,628.3116	633,208.666	616,778.8872	614,781.7767	603,623.3703	578,597.6554	548,622.7561	815,862.3308	548,622.7561
TOTAL LIABILITIES AND EQUITY	EQUITY		1,423,473.0833	1,438,383.3482	1,403,210.6619	1,418,803.5573	1,430,374.8225	1,194,424.2028	1,210,339.3235	1,256,682.1259	1,237,607.7327	1,354,594.5027	1,411,446.398	1,358,138.4856	1,315,334.1616	1,208,367.234	1,106,247.5113	1,083,008.6533	1,059,024.6002	1,001,910.4137	1,015,868.6557	970,629.539	944,198.199	992,543.1524	989,211.6817	898,411.4617	1,358,138.4856	898,411.4617
CHECK: assets less liabilities and equity (must be zero)	EQUITY		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Working capital (receivables + contract assets + prepayments - trade payables - contract liabilities)	MEMO		502,081.9591	322,489.1794	364,666.9087	400,510.1088	378,068.861	503,892.2698	454,220.8169	452,324.3376	801,106.919	809,784.9945	750,640.5093	712,096.9245	662,276.252	585,274.1415	528,895.9961	546,699.2841	570,018.8105	557,264.8512	573,326.5516	539,334.48	513,789.3295	567,086.6528	567,233.7997	545,399.0408	712,096.9245	545,399.0408
Net cash / (debt): cash less bank loan	MEMO		387,554.9305	573,877.6302	480,312.2071	424,521.0509	507,557.8301	182,487.4753	191,163.985	283,888.0493	-198.8751	39,731.087	125,179.907	180,820.3371	202,113.2525	226,403.9226	145,915.3123	71,311.862	57,310.4174	77,460.876	41,451.8815	64,607.1231	94,871.0338	36,487.9102	17,929.2598	14,030.884	180,820.3371	14,030.884

CASH FLOW STATEMENT
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Net profit	OPERATING ACTIVITIES (indirect)	PL	17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	-10,776.1398	28,792.4725	74,710.3516	56,260.5963	43,137.7704	21,837.3726	15,668.7233	-33,692.3409	-56,651.6441	-52,933.4998	-16,067.3353	-2,760.6529	2,871.454	-23,419.6457	-16,429.7788	-1,997.1104	-11,158.4064	-25,025.715	-29,974.8992	317,750.3208	-267,239.5746
Add back: depreciation	OPERATING ACTIVITIES (indirect)		5,983.3333	6,022.2222	6,108.3333	6,252.7778	6,277.7778	6,344.4444	6,477.7778	6,522.2222	6,600	6,677.7778	6,755.5556	6,833.3333	6,914.6111	6,995.8889	7,677.1667	7,758.4444	7,839.7222	7,921	8,002.2778	8,083.5556	8,164.8333	8,246.1111	8,327.3889	8,408.6667	76,855.5556	94,339.6667
Add back: interest	OPERATING ACTIVITIES (indirect)		504	490	476	462	448	434	420	406	392	378	364	350	336	322	308	294	280	266	252	238	224	210	196	182	5,124	3,108
Add back: income tax on distributions	OPERATING ACTIVITIES (indirect)		0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	78,974.36	0
EBITDA plus FX on client balances (check equals PL)	OPERATING ACTIVITIES (indirect)		24,429.6797	-2,077.9255	15,868.369	28,404.4537	54,519.0413	74,976.6646	35,690.2503	81,638.5738	63,252.5963	50,193.5482	28,956.9282	22,852.0567	-26,441.7298	-49,333.7552	-44,948.3332	-8,014.8909	5,359.0693	11,058.454	-15,165.3679	-8,108.2232	6,391.7229	-2,702.2953	-16,502.3261	-21,384.2325	478,704.2363	-169,791.908
(Increase) / decrease in trade receivables	OPERATING ACTIVITIES (indirect)	BS movement	-130,879.1732	178,443.3345	-60,074.8736	-113,971.1563	92,794.0893	-123,905.2624	28,801.1437	96,934.1602	-305,223.6531	-114,333.9741	-13,475.5729	114,109.1235	66,218.1863	106,373.9571	55,891.6592	-58,854.9038	703.5387	63,498.7234	-57,890.5416	61,016.2257	67,804.859	-126,217.8643	-35,447.2275	70,712.5303	-350,781.8145	213,809.1425
(Increase) / decrease in contract assets	OPERATING ACTIVITIES (indirect)	BS movement	22,672.767	-14,653.1218	-4,326.1965	38,534.327	-29,706.353	27,841.0828	-40,717.5325	-58,475.1205	33,411.1218	30,399.3884	35,116.942	-12,194.1143	-9,109.558	17,813.7518	-6,011.7135	-342.133	1,365.3476	5,770.9217	-152.9726	-779.423	-19,348.4416	11,169.6761	11,818.6589	7,706.6472	27,903.1905	19,900.7615
(Increase) / decrease in prepayments	OPERATING ACTIVITIES (indirect)	BS movement	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Increase / (decrease) in freelancer payables	OPERATING ACTIVITIES (indirect)	BS movement	-17,760.8483	677.3133	-919.7408	1,105.111	-676.8819	16,505	27,205.2979	-22,279.0856	-17,399.1335	-3,838.3653	0	3,368.0333	-3,187.1933	0	0	224.7198	0	1,855.2803	7,518.5781	-7,768.3169	-1,830.2614	0	0	3,033.9652	-14,013.3001	-153.2281
Increase / (decrease) in media platform payables	OPERATING ACTIVITIES (indirect)	BS movement	36,945.4342	985.2247	24,200.0025	30,868.2598	-8,659.3955	-32,403.4593	-17,511.4445	42,624.5313	-29,512.2613	20,553.6892	51,384.223	-30,830.5338	-74,462.4122	0	13,844.1892	-1,323.5197	0	-9,235.1264	-29,888.3147	8,563.4757	17,126.9514	9,206.9514	41,017.3784	-24,610.427	88,644.2703	-49,760.8541
Increase / (decrease) in production payables	OPERATING ACTIVITIES (indirect)	BS movement	0	0	0	0	0	0	5,191.28	1,720.06	-4,403.7844	-578.6667	4,655.1667	6,203.4444	0	-6,975	-5,812.5	0	0	0	0	0	0	0	0	0	12,787.5	-12,787.5
Increase / (decrease) in overhead payables	OPERATING ACTIVITIES (indirect)	BS movement	304.464	1,471.184	7,903.774	-9,530.54	2,552.766	-4,122.54	2,162.384	-2,313.066	1,298.634	0	0	0	720.8118	0	0	0	0	0	0	0	0	0	0	0	-272.94	720.8118
Increase / (decrease) in payroll taxes payable	OPERATING ACTIVITIES (indirect)	BS movement	-410.254	-420.8054	58,721.7092	-54,828.8268	-3,717.1974	-67.3992	2,313.9829	503.4427	-1,098.3139	0	0	0	4,222.4134	0	37,963.2447	-47,421.1785	0	0	0	0	0	0	0	0	996.338	-5,235.5204
Increase / (decrease) in VAT payable	OPERATING ACTIVITIES (indirect)	BS movement	-1,223.7469	616.5552	-1,531.8475	1,174.3766	637.1165	-1,819.0891	-5,583.4099	-144.492	5,733.3746	1,592.4894	511.4067	-2,605.2114	-3,046.4407	-129.6851	-5,385.2228	1,855.9071	7,165.0125	-469.9547	-1,603.9262	435.3932	1,477.0372	752.4949	1,212.8227	-1,240.9021	-2,642.4778	1,022.536
Increase / (decrease) in contract liabilities	OPERATING ACTIVITIES (indirect)	BS movement	68,030.4779	12,668.8451	-8,960.6949	17,150.7985	-33,862.977	-9,738.2298	44,540.3243	-56,315.0002	-26,953.5049	59,119.853	-18,536.2736	-42,112.3683	69,640.8379	-40,210.5984	-1,533.4895	42,492.5487	-25,388.4127	-49,135.8398	64,351.5504	-27,039.8899	-38,207.9568	52,543.9135	-17,535.9568	-35,007.9568	5,031.25	-5,031.25
Increase / (decrease) in the bonus provision	OPERATING ACTIVITIES (indirect)	BS movement	10,550.13	10,502.0958	-120,869.9245	10,964.0403	10,504.5711	10,496.8776	10,778.5935	10,836.0606	0	0	0	0	0	0	-85,262.4444	0	0	0	0	0	0	0	0	0	-46,237.5556	-85,262.4444
Cash generated from operations	OPERATING ACTIVITIES (indirect)		12,658.9305	188,212.6997	-89,989.4231	-50,129.1562	84,384.7792	-42,236.3548	92,870.8697	94,730.0644	-280,894.9244	43,107.962	88,612.82	58,790.4301	24,554.9154	27,538.6701	-41,254.6103	-71,383.4503	-10,795.4446	23,342.4586	-32,830.9944	26,319.2416	33,413.9107	-55,247.1237	-15,436.6504	-790.3758	200,118.6971	-92,569.4531
Interest paid	OPERATING ACTIVITIES (indirect)	Financing	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-336	-322	-308	-294	-280	-266	-252	-238	-224	-210	-196	-182	-5,124	-3,108
Income tax on distributions paid	OPERATING ACTIVITIES (indirect)	Financing	0	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-78,974.36	0
NET CASH FROM OPERATING ACTIVITIES	OPERATING ACTIVITIES (indirect)		12,154.9305	187,722.6997	-90,465.4231	-50,591.1562	83,936.7792	-42,670.3548	13,476.5097	94,324.0644	-281,286.9244	42,729.962	88,248.82	58,440.4301	24,218.9154	27,216.6701	-41,562.6103	-71,677.4503	-11,075.4446	23,076.4586	-33,082.9944	26,081.2416	33,189.9107	-55,457.1237	-15,632.6504	-972.3758	116,020.3371	-95,677.4531
Capital expenditure	INVESTING ACTIVITIES	Fixed_Assets	-2,600	-1,400	-3,100	-5,200	-900	-2,400	-4,800	-1,600	-2,800	-2,800	-2,800	-2,800	-2,926	-2,926	-38,926	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-33,200	-71,112
Bank loan repaid	FINANCING ACTIVITIES	Financing	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-36,000	-36,000
Dividends paid	FINANCING ACTIVITIES	Financing	0	0	0	0	0	-280,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-280,000	0
NET CASH FROM FINANCING ACTIVITIES	FINANCING ACTIVITIES		-3,000	-3,000	-3,000	-3,000	-3,000	-283,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-316,000	-36,000
NET CASH FLOW FOR THE MONTH	CASH		6,554.9305	183,322.6997	-96,565.4231	-58,791.1562	80,036.7792	-328,070.3548	5,676.5097	89,724.0644	-287,086.9244	36,929.962	82,448.82	52,640.4301	18,292.9154	21,290.6701	-83,488.6103	-77,603.4503	-17,001.4446	17,150.4586	-39,008.9944	20,155.2416	27,263.9107	-61,383.1237	-21,558.6504	-6,898.3758	-233,179.6629	-202,789.4531
Opening cash	CASH		486,000	492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	80,801.1249	117,731.087	200,179.907	252,820.3371	271,113.2525	292,403.9226	208,915.3123	131,311.862	114,310.4174	131,460.876	92,451.8815	112,607.1231	139,871.0338	78,487.9102	56,929.2598
CLOSING CASH (to balance sheet)	CASH		492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	80,801.1249	117,731.087	200,179.907	252,820.3371	271,113.2525	292,403.9226	208,915.3123	131,311.862	114,310.4174	131,460.876	92,451.8815	112,607.1231	139,871.0338	78,487.9102	56,929.2598	50,030.884	252,820.3371	50,030.884
Free cash flow (operating less capex)	CASH	memo	9,554.9305	186,322.6997	-93,565.4231	-55,791.1562	83,036.7792	-45,070.3548	8,676.5097	92,724.0644	-284,086.9244	39,929.962	85,448.82	55,640.4301	21,292.9154	24,290.6701	-80,488.6103	-74,603.4503	-14,001.4446	20,150.4586	-36,008.9944	23,155.2416	30,263.9107	-58,383.1237	-18,558.6504	-3,898.3758	82,820.3371	-166,789.4531
Receipts: GBP clients (converted on receipt)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	172,463.17	302,527.7704	158,536.4377	226,595.7984	265,649.122	171,088.074	261,480.4541	240,778.9536	88,152.6172	217,202.8516	256,239.1047	221,963.0005	211,577.335	174,866.4484	129,189.4632	110,919.3608	128,987.2327	146,093.1838	101,766.1061	118,968.0703	140,635.5121	94,046.8288	122,725.6275	154,544.4516	2,582,677.3544	1,634,319.6203
Receipts: USD clients (converted on receipt)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	91,337.7244	122,374.6839	99,282.2383	108,132.819	105,239.8441	85,004.1063	174,841.9074	130,935.67	61,224.6058	112,119.6716	117,654.6828	163,894.7946	155,463.643	135,572.997	172,121.9893	131,119.4145	99,678.7685	115,700.3327	101,609.9716	111,720.1804	87,154.017	77,822.7572	82,215.3528	88,072.1469	1,372,042.7482	1,358,251.5708
Receipts: EUR clients	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	186,307.37	218,587.83	184,863.9	161,420.07	226,869.25	228,033.51	182,256.77	230,382.82	91,673.5621	188,285.9891	206,948.7293	223,397.1448	188,448.572	174,169.9568	161,579.9504	169,110.613	189,133.18	198,236.2205	196,389.6947	200,826.7243	210,678.7486	194,711.3846	211,409.9098	232,127.7498	2,329,026.9453	2,326,822.7046
Net salaries (month end)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-124,429.784	-123,889.9054	-125,328.3284	-129,235.913	-123,763.7265	-123,677.2557	-126,997.5908	-127,643.4901	-126,234.392	-126,234.392	-126,234.392	-126,234.392	-131,651.5996	-131,651.5996	-131,035.5996	-118,111.0974	-118,111.0974	-118,111.0974	-118,111.0974	-118,111.0974	-118,111.0974	-118,111.0974	-118,111.0974	-118,111.0974	-1,509,903.5619	-1,457,338.6755
Net bonus (March)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	-73,899.4619	0	0	0	0	0	0	0	0	0	0	0	-47,915.1997	0	0	0	0	0	0	0	0	0	-73,899.4619	-47,915.1997
Payroll taxes (TSD, 10th)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-86,983.07	-86,572.816	-86,152.0106	-144,873.7197	-90,044.893	-86,327.6955	-86,260.2963	-88,574.2792	-89,077.7219	-87,979.408	-87,979.408	-87,979.408	-87,979.408	-92,201.8214	-92,201.8214	-130,165.0661	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-1,108,804.7262	-1,064,499.2176
Freelancers	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-23,309.71	-5,812.3	-6,536.96	-6,054.52	-6,387.02	-11,482.73	-38,207.84	-57,873.22	-29,184.6815	-9,866.3653	-6,028	-7,712.0166	-9,486.4533	-6,299.26	-6,299.26	-6,411.6199	-6,636.3397	-7,563.9799	-13,178.5493	-16,812.969	-8,129.5214	-6,299.26	-6,299.26	-7,816.2426	-208,455.3635	-101,232.715
Media platforms	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-160,513.37	-194,305.35	-194,859.5	-210,132.63	-243,567.19	-255,796.31	-232,273.71	-187,582.6	-235,049.1532	-205,536.8919	-226,090.5811	-277,474.804	-246,644.2703	-172,181.8581	-172,181.8581	-186,026.0473	-184,702.5275	-184,702.5275	-175,467.4012	-145,579.0865	-154,142.5622	-171,269.5135	-180,476.4649	-221,493.8432	-2,623,182.0902	-2,194,867.9602
Production suppliers	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	0	0	0	0	-16.72	-5,223.94	-6,911.34	-2,507.5556	-1,928.8889	-6,584.0556	-12,787.5	-12,787.5	-5,812.5	0	0	0	0	0	0	0	0	0	-23,172.5	-31,387.5
Overhead suppliers	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-37,789.4	-41,784.96	-41,958.93	-53,072.1	-46,559.27	-45,029.6	-39,146.74	-40,085.85	-38,746.466	-40,045.1	-40,045.1	-40,045.1	-40,525.6412	-41,246.453	-41,246.453	-41,246.453	-41,246.453	-41,246.453	-41,246.453	-41,246.453	-41,246.453	-41,246.453	-41,246.453	-41,246.453	-504,308.616	-494,236.6242
VAT paid / (credited)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-3,800	-2,576.2531	-3,192.8083	-1,660.9608	-2,835.3374	-3,472.4539	-1,653.3648	0	3,930.0451	-1,658.8375	-3,251.3269	-3,762.7336	-1,157.5222	0	1,888.9185	129.6851	5,547.9194	-1,617.093	-1,147.1384	0	21.3946	-1,455.6427	-2,208.1376	-3,420.9603	-23,934.0312	-3,418.5766
Income tax on distributions (10th)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-78,974.36	0
Capex incl. VAT	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-3,224	-1,736	-3,844	-6,448	-1,116	-2,976	-5,952	-1,984	-3,472	-3,472	-3,472	-3,472	-3,628.24	-3,628.24	-48,268.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-41,168	-88,178.88
Loan interest	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-336	-322	-308	-294	-280	-266	-252	-238	-224	-210	-196	-182	-5,124	-3,108
Loan principal	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-36,000	-36,000
Dividends	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	0	0	0	-280,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-280,000	0
NET CASH FLOW, DIRECT METHOD	DIRECT METHOD (built from the cash lines of each schedule)		6,554.9305	183,322.6997	-96,565.4231	-58,791.1562	80,036.7792	-328,070.3548	5,676.5097	89,724.0644	-287,086.9244	36,929.962	82,448.82	52,640.4301	18,292.9154	21,290.6701	-83,488.6103	-77,603.4503	-17,001.4446	17,150.4586	-39,008.9944	20,155.2416	27,263.9107	-61,383.1237	-21,558.6504	-6,898.3758	-233,179.6629	-202,789.4531
CHECK: indirect less direct (must be zero)	DIRECT METHOD (built from the cash lines of each schedule)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Operating drivers

Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

RETAINERS: FEES, SCOPED AND WORKED HOURS, OVERSERVICING AND INVOICING (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Active weight (1 in term; renewal or win probability after it)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	1	0
Fee recognised (GBP)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	0	0	0	0	0	0	0	0	0	0	0	0	504,000	0
Fee recognised (EUR at the monthly average rate)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	fee / average rate	48,309.1787	48,206.5997	48,148.0208	48,426.7085	48,457.4382	48,582.996	48,908.2969	49,059.1162	47,151.8487	47,151.8487	47,151.8487	47,151.8487	0	0	0	0	0	0	0	0	0	0	0	0	576,705.7499	0
Scoped hours	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	scoped hours x weight	430	430	430	430	430	430	430	430	430	430	430	430	0	0	0	0	0	0	0	0	0	0	0	0	5,160	0
Hours worked	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	514.8	496.4	508.5	486.3	483.1	490.1	489.4	494.7	495.4125	495.4125	495.4125	495.4125	0	0	0	0	0	0	0	0	0	0	0	0	5,944.95	0
Overservice hours (worked above scope)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	worked - scoped	84.8	66.4	78.5	56.3	53.1	60.1	59.4	64.7	65.4125	65.4125	65.4125	65.4125	0	0	0	0	0	0	0	0	0	0	0	0	784.95	0
Overservice cost at standard (EUR)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	4,585.5	3,590.533	4,244.8319	3,044.3827	2,871.3449	3,249.865	3,212.013	3,498.6067	3,537.1346	3,537.1346	3,537.1346	3,537.1346	0	0	0	0	0	0	0	0	0	0	0	0	42,445.6157	0
Invoiced (monthly in advance)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	A: sales ledger; F: billing rule	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	0	0	0	0	0	0	0	0	0	0	0	0	504,000	0
Active weight (1 in term; renewal or win probability after it)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	1	0.85
Fee recognised (GBP)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	12,000	12,000	12,000	12,000	12,000	12,000	12,000	12,000	12,000	180,000	153,000
Fee recognised (EUR at the monthly average rate)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	fee / average rate	17,253.2781	17,216.6428	17,195.7217	17,295.253	17,306.2279	17,351.07	17,467.2489	17,521.1129	16,839.946	16,839.946	16,839.946	16,839.946	16,839.946	16,839.946	16,839.946	13,471.9568	13,471.9568	13,471.9568	13,471.9568	13,471.9568	13,471.9568	13,471.9568	13,471.9568	13,471.9568	205,966.3393	171,767.4489
Scoped hours	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	scoped hours x weight	180	180	180	180	180	180	180	180	180	180	180	180	180	180	180	144	144	144	144	144	144	144	144	144	2,160	1,836
Hours worked	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	197.3	199.6	191.4	197	191.6	200.9	199.6	205.1	197.8125	197.8125	197.8125	197.8125	197.8125	197.8125	197.8125	158.25	158.25	158.25	158.25	158.25	158.25	158.25	158.25	158.25	2,373.75	2,017.6875
Overservice hours (worked above scope)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	worked - scoped	17.3	19.6	11.4	17	11.6	20.9	19.6	25.1	17.8125	17.8125	17.8125	17.8125	17.8125	17.8125	17.8125	14.25	14.25	14.25	14.25	14.25	14.25	14.25	14.25	14.25	213.75	181.6875
Overservice cost at standard (EUR)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	804.8583	911.8626	530.369	790.9012	539.6738	972.3432	911.8626	1,167.7423	828.7016	828.7016	828.7016	828.7016	865.9932	865.9932	865.9932	692.7946	692.7946	692.7946	692.7946	692.7946	692.7946	692.7946	692.7946	692.7946	9,944.4194	8,833.1305
Invoiced (quarterly in advance)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	A: sales ledger; F: billing rule	45,000	0	0	45,000	0	0	45,000	0	0	45,000	0	0	45,000	0	0	36,000	0	0	36,000	0	0	36,000	0	0	180,000	153,000
Active weight (1 in term; renewal or win probability after it)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.8	0.8	0.8	0.8	0.8	0.8	1	0.9
Fee recognised (GBP)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	14,400	14,400	14,400	14,400	14,400	14,400	216,000	194,400
Fee recognised (EUR at the monthly average rate)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	fee / average rate	20,703.9337	20,659.9713	20,634.866	20,754.3036	20,767.4735	20,821.284	20,960.6987	21,025.3355	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	16,166.3481	16,166.3481	16,166.3481	16,166.3481	16,166.3481	16,166.3481	247,159.6071	218,245.6998
Scoped hours	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	scoped hours x weight	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	152	152	152	152	152	152	2,280	2,052
Hours worked	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	209.5	214	205.8	214.7	207.3	195.5	216.4	199.9	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	166.31	166.31	166.31	166.31	166.31	166.31	2,494.65	2,245.185
Overservice hours (worked above scope)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	worked - scoped	19.5	24	15.8	24.7	17.3	5.5	26.4	9.9	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	14.31	14.31	14.31	14.31	14.31	14.31	214.65	193.185
Overservice cost at standard (EUR)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	1,054.4487	1,297.783	854.3738	1,335.635	935.4853	297.4086	1,427.5613	535.3355	967.2539	967.2539	967.2539	967.2539	1,010.7803	1,010.7803	1,010.7803	1,010.7803	1,010.7803	1,010.7803	808.6243	808.6243	808.6243	808.6243	808.6243	808.6243	11,607.0468	10,916.4276
Invoiced (monthly in advance)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	A: sales ledger; F: billing rule	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	14,400	14,400	14,400	14,400	14,400	14,400	216,000	194,400
Active weight (1 in term; renewal or win probability after it)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	Client_Register	0	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.5833	0.8542
Fee recognised (GBP)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	8,625	8,625	8,625	8,625	8,625	8,625	8,625	80,500	117,875
Fee recognised (EUR at the monthly average rate)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	fee / average rate	0	0	0	0	0	13,302.487	13,391.5575	13,432.8533	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	9,682.9689	9,682.9689	9,682.9689	9,682.9689	9,682.9689	9,682.9689	9,682.9689	91,769.3987	132,333.9087
Scoped hours	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	scoped hours x weight	0	0	0	0	0	140	140	140	140	140	140	140	140	140	140	140	140	105	105	105	105	105	105	105	980	1,435
Hours worked	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	153.2	146.2	148.3	149.2333	149.2333	149.2333	149.2333	149.2333	149.2333	149.2333	149.2333	149.2333	111.925	111.925	111.925	111.925	111.925	111.925	111.925	1,044.6333	1,529.6417
Overservice hours (worked above scope)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	worked - scoped	0	0	0	0	0	13.2	6.2	8.3	9.2333	9.2333	9.2333	9.2333	9.2333	9.2333	9.2333	9.2333	9.2333	6.925	6.925	6.925	6.925	6.925	6.925	6.925	64.6333	94.6417
Overservice cost at standard (EUR)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	0	0	0	0	0	614.1115	288.4463	386.1459	429.5679	429.5679	429.5679	429.5679	448.8985	448.8985	448.8985	448.8985	448.8985	336.6738	336.6738	336.6738	336.6738	336.6738	336.6738	336.6738	3,006.9753	4,601.2092
Invoiced (monthly in advance)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	A: sales ledger; F: billing rule	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	8,625	8,625	8,625	8,625	8,625	8,625	8,625	80,500	117,875
Active weight (1 in term; renewal or win probability after it)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	Client_Register	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.8125
Fee recognised (USD)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	A: ledger; F: fee x weight x renewal uplift	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	234,000	253,500
Fee recognised (EUR at the monthly average rate)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	fee / average rate	0	0	0	22,413.7931	22,273.6229	22,571.4038	22,728.2661	22,529.3531	21,559.1583	21,559.1583	21,559.1583	21,559.1583	21,559.1583	21,559.1583	21,559.1583	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	198,753.0723	210,201.7937
Scoped hours	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	scoped hours x weight	0	0	0	215	215	215	215	215	215	215	215	215	215	215	215	161.25	161.25	161.25	161.25	161.25	161.25	161.25	161.25	161.25	1,935	2,096.25
Hours worked	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	251.1	255.8	244.2	240.5	235.1	245.34	245.34	245.34	245.34	245.34	245.34	245.34	184.005	184.005	184.005	184.005	184.005	184.005	184.005	184.005	184.005	2,208.06	2,392.065
Overservice hours (worked above scope)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	worked - scoped	0	0	0	36.1	40.8	29.2	25.5	20.1	30.34	30.34	30.34	30.34	30.34	30.34	30.34	22.755	22.755	22.755	22.755	22.755	22.755	22.755	22.755	22.755	273.06	295.815
Overservice cost at standard (EUR)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	overservice hours x standard cost rate of the work type	0	0	0	1,952.082	2,206.2311	1,578.9693	1,378.8945	1,086.8933	1,640.614	1,640.614	1,640.614	1,640.614	1,714.4417	1,714.4417	1,714.4417	1,285.8312	1,285.8312	1,285.8312	1,285.8312	1,285.8312	1,285.8312	1,285.8312	1,285.8312	1,285.8312	14,765.5263	16,715.8062
Invoiced (monthly in advance)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	A: sales ledger; F: billing rule	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	234,000	253,500
Active weight (1 in term; renewal or win probability after it)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.8	0.8	0.8	0.8	0.8	0.8	1	0.9
Fee recognised (USD)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	A: ledger; F: fee x weight x renewal uplift	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	8,800	8,800	8,800	8,800	8,800	8,800	132,000	118,800
Fee recognised (EUR at the monthly average rate)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	fee / average rate	9,294.8583	9,273.3097	9,440.8445	9,482.7586	9,423.4558	9,549.4401	9,615.8049	9,531.6494	9,121.1824	9,121.1824	9,121.1824	9,121.1824	9,121.1824	9,121.1824	9,121.1824	9,121.1824	9,121.1824	9,121.1824	7,296.9459	7,296.9459	7,296.9459	7,296.9459	7,296.9459	7,296.9459	112,096.8508	98,508.7696
Scoped hours	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	scoped hours x weight	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	76	76	76	76	76	76	1,140	1,026
Hours worked	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	95.2	98.3	102.8	107.6	110.5	94.7	104.2	102.6	101.9875	101.9875	101.9875	101.9875	101.9875	101.9875	101.9875	101.9875	101.9875	101.9875	81.59	81.59	81.59	81.59	81.59	81.59	1,223.85	1,101.465
Overservice hours (worked above scope)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	worked - scoped	0.2	3.3	7.8	12.6	15.5	-0.3	9.2	7.6	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	5.59	5.59	5.59	5.59	5.59	5.59	83.85	75.465
Overservice cost at standard (EUR)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	overservice hours x standard cost rate of the work type	9.3343	154.0157	364.037	588.0598	723.4069	-14.0014	429.377	354.7027	326.1165	326.1165	326.1165	326.1165	340.7917	340.7917	340.7917	340.7917	340.7917	340.7917	272.6334	272.6334	272.6334	272.6334	272.6334	272.6334	3,913.3978	3,680.5506
Invoiced (monthly in advance)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	A: sales ledger; F: billing rule	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	8,800	8,800	8,800	8,800	8,800	8,800	132,000	118,800
Active weight (1 in term; renewal or win probability after it)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	1	0.6
Fee recognised (EUR)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	222,000	133,200
Fee recognised (EUR at the monthly average rate)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	fee / average rate	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	222,000	133,200
Scoped hours	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	scoped hours x weight	190	190	190	190	190	190	190	190	190	190	190	190	114	114	114	114	114	114	114	114	114	114	114	114	2,280	1,368
Hours worked	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	245.6	240.6	251	231.6	238.5	233.5	245.4	234.3	240.0625	240.0625	240.0625	240.0625	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	2,880.75	1,728.45
Overservice hours (worked above scope)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	worked - scoped	55.6	50.6	61	41.6	48.5	43.5	55.4	44.3	50.0625	50.0625	50.0625	50.0625	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	600.75	360.45
Overservice cost at standard (EUR)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	2,586.7121	2,354.0941	2,837.9396	1,935.3817	2,256.3946	2,023.7766	2,577.4074	2,060.9955	2,329.0877	2,329.0877	2,329.0877	2,329.0877	1,460.338	1,460.338	1,460.338	1,460.338	1,460.338	1,460.338	1,460.338	1,460.338	1,460.338	1,460.338	1,460.338	1,460.338	27,949.0524	17,524.0559
Invoiced (monthly in advance)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	A: sales ledger; F: billing rule	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	222,000	133,200
Active weight (1 in term; renewal or win probability after it)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.8	0.8	0.8	1	0.95
Fee recognised (EUR)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	12,800	12,800	12,800	192,000	182,400
Fee recognised (EUR at the monthly average rate)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	fee / average rate	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	12,800	12,800	12,800	192,000	182,400
Scoped hours	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	scoped hours x weight	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	132	132	132	1,980	1,881
Hours worked	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	178.1	172.8	166.2	163.9	177	178.5	180.7	168.5	173.2125	173.2125	173.2125	173.2125	173.2125	173.2125	173.2125	173.2125	173.2125	173.2125	173.2125	173.2125	173.2125	138.57	138.57	138.57	2,078.55	1,974.6225
Overservice hours (worked above scope)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	worked - scoped	13.1	7.8	1.2	-1.1	12	13.5	15.7	3.5	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	6.57	6.57	6.57	98.55	93.6225
Overservice cost at standard (EUR)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	611.3955	364.037	56.0057	-51.3386	560.0569	630.064	732.7411	163.3499	383.289	383.289	383.289	383.289	400.537	400.537	400.537	400.537	400.537	400.537	400.537	400.537	400.537	320.4296	320.4296	320.4296	4,599.4675	4,566.1214
Invoiced (quarterly in advance)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	A: sales ledger; F: billing rule	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	38,400	0	0	192,000	182,400
Active weight (1 in term; renewal or win probability after it)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	1	0.7917
Fee recognised (EUR)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	168,000	133,000
Fee recognised (EUR at the monthly average rate)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	fee / average rate	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	168,000	133,000
Scoped hours	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	scoped hours x weight	145	145	145	145	145	145	145	145	145	145	145	145	145	145	108.75	108.75	108.75	108.75	108.75	108.75	108.75	108.75	108.75	108.75	1,740	1,377.5
Hours worked	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	161.4	155	163.4	151.2	153.9	147.7	157.4	159.2	156.15	156.15	156.15	156.15	156.15	156.15	117.1125	117.1125	117.1125	117.1125	117.1125	117.1125	117.1125	117.1125	117.1125	117.1125	1,873.8	1,483.425
Overservice hours (worked above scope)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	worked - scoped	16.4	10	18.4	6.2	8.9	2.7	12.4	14.2	11.15	11.15	11.15	11.15	11.15	11.15	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	133.8	105.925
Overservice cost at standard (EUR)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	765.4111	466.7141	858.754	289.3627	415.3756	126.0128	578.7255	662.734	520.3862	520.3862	520.3862	520.3862	543.8036	543.8036	407.8527	407.8527	407.8527	407.8527	407.8527	407.8527	407.8527	407.8527	407.8527	407.8527	6,244.6348	5,166.1343
Invoiced (monthly in advance)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	A: sales ledger; F: billing rule	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	168,000	133,000
Active weight (1 in term; renewal or win probability after it)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	Client_Register	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.75	0
Fee recognised (EUR)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	A: ledger; F: fee x weight x renewal uplift	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Fee recognised (EUR at the monthly average rate)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	fee / average rate	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Scoped hours	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	scoped hours x weight	140	140	140	140	140	140	140	140	140	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,260	0
Hours worked	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	A: timesheets; F: scoped x (1 + forecast overservicing)	173.7	166.3	168.2	171.9	166.6	163.6	160.1	174.5	168.1125	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,513.0125	0
Overservice hours (worked above scope)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	worked - scoped	33.7	26.3	28.2	31.9	26.6	23.6	20.1	34.5	28.1125	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	253.0125	0
Overservice cost at standard (EUR)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	overservice hours x standard cost rate of the work type	1,567.8453	1,223.5707	1,311.9655	1,484.1028	1,237.5277	1,097.9569	935.1244	1,605.0642	1,307.8947	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,771.0522	0
Invoiced (monthly in advance)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	A: sales ledger; F: billing rule	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Active weight (1 in term; renewal or win probability after it)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	1	0.85
Fee recognised (EUR)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	108,000	91,800
Fee recognised (EUR at the monthly average rate)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	fee / average rate	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	108,000	91,800
Scoped hours	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	scoped hours x weight	95	95	95	95	95	95	95	95	95	95	95	95	80.75	80.75	80.75	80.75	80.75	80.75	80.75	80.75	80.75	80.75	80.75	80.75	1,140	969
Hours worked	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	104	95.3	100.5	104.8	99.5	102.4	96.2	102.7	100.675	100.675	100.675	100.675	85.5738	85.5738	85.5738	85.5738	85.5738	85.5738	85.5738	85.5738	85.5738	85.5738	85.5738	85.5738	1,208.1	1,026.885
Overservice hours (worked above scope)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	worked - scoped	9	0.3	5.5	9.8	4.5	7.4	1.2	7.7	5.675	5.675	5.675	5.675	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	68.1	57.885
Overservice cost at standard (EUR)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	420.0427	14.0014	256.6928	457.3798	210.0213	345.3684	56.0057	359.3699	264.8603	264.8603	264.8603	264.8603	235.2621	235.2621	235.2621	235.2621	235.2621	235.2621	235.2621	235.2621	235.2621	235.2621	235.2621	235.2621	3,178.3231	2,823.1455
Invoiced (monthly in advance)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	A: sales ledger; F: billing rule	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	108,000	91,800
Active weight (1 in term; renewal or win probability after it)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0	0.25
Fee recognised (USD)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	0	45,000
Fee recognised (EUR at the monthly average rate)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	0	37,313.9279
Scoped hours	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	32.5	32.5	32.5	32.5	32.5	32.5	32.5	32.5	32.5	32.5	32.5	32.5	0	390
Hours worked	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	39	39	39	39	39	39	39	39	39	39	39	39	0	468
Overservice hours (worked above scope)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	0	78
Overservice cost at standard (EUR)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	367.2996	367.2996	367.2996	367.2996	367.2996	367.2996	367.2996	367.2996	367.2996	367.2996	367.2996	367.2996	0	4,407.5956
Invoiced (monthly in advance)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	0	45,000
Active weight (1 in term; renewal or win probability after it)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Fee recognised (GBP)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Fee recognised (EUR at the monthly average rate)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Scoped hours	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Hours worked	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Overservice hours (worked above scope)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Overservice cost at standard (EUR)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced (monthly in advance)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Active weight (1 in term; renewal or win probability after it)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0	0.1875
Fee recognised (EUR)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	2,750	2,750	2,750	2,750	2,750	2,750	2,750	2,750	0	24,750
Fee recognised (EUR at the monthly average rate)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	2,750	2,750	2,750	2,750	2,750	2,750	2,750	2,750	0	24,750
Scoped hours	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	27.5	27.5	27.5	27.5	27.5	27.5	27.5	27.5	27.5	0	247.5
Hours worked	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	33	33	33	33	33	33	33	33	33	0	297
Overservice hours (worked above scope)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5.5	5.5	5.5	5.5	5.5	5.5	5.5	5.5	5.5	0	49.5
Overservice cost at standard (EUR)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	267.3944	267.3944	267.3944	267.3944	267.3944	267.3944	267.3944	267.3944	267.3944	0	2,406.5495
Invoiced (monthly in advance)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	2,750	2,750	2,750	2,750	2,750	2,750	2,750	2,750	0	24,750
Active weight (1 in term; renewal or win probability after it)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0	0.1167
Fee recognised (GBP)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,000	4,000	4,000	4,000	4,000	4,000	4,000	0	28,000
Fee recognised (EUR at the monthly average rate)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,490.6523	4,490.6523	4,490.6523	4,490.6523	4,490.6523	4,490.6523	4,490.6523	0	31,434.5658
Scoped hours	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	42	42	42	42	42	42	42	0	294
Hours worked	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50.4	50.4	50.4	50.4	50.4	50.4	50.4	0	352.8
Overservice hours (worked above scope)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8.4	8.4	8.4	8.4	8.4	8.4	8.4	0	58.8
Overservice cost at standard (EUR)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	408.3842	408.3842	408.3842	408.3842	408.3842	408.3842	408.3842	0	2,858.6891
Invoiced (monthly in advance)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,000	4,000	4,000	4,000	4,000	4,000	4,000	0	28,000
Brand and content retainers: fees (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	49,253.2781	49,216.6428	49,195.7217	49,295.253	49,306.2279	62,653.557	62,858.8064	62,953.9662	61,750.5712	48,250.5712	48,250.5712	48,250.5712	40,850.5712	40,850.5712	40,850.5712	40,232.582	40,232.582	41,495.578	41,495.578	41,495.578	41,495.578	41,495.578	41,495.578	41,495.578	641,235.738	493,485.9234
Brand and content retainers: scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	510	510	510	510	510	650	650	650	650	510	510	510	434	434	434	425.5	425.5	432.5	432.5	432.5	432.5	432.5	432.5	432.5	6,680	5,180.5
Brand and content retainers: hours worked	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	616.6	606.5	610.6	600.5	596.7	751.2	751.3	762.2	755.2208	587.1083	587.1083	587.1083	491.0833	491.0833	491.0833	484.5208	484.5208	497.6125	497.6125	497.6125	497.6125	497.6125	497.6125	497.6125	7,812.1458	5,925.5792
Performance retainers: fees (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	48,294.8583	48,273.3097	48,440.8445	48,482.7586	48,423.4558	48,549.4401	48,615.8049	48,531.6494	48,121.1824	48,121.1824	48,121.1824	48,121.1824	46,771.1824	46,771.1824	43,271.1824	43,271.1824	43,271.1824	43,271.1824	41,446.9459	41,446.9459	41,446.9459	38,246.9459	38,246.9459	38,246.9459	580,096.8508	505,708.7696
Performance retainers: scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	500	500	500	500	500	500	500	500	500	500	500	500	485.75	485.75	449.5	449.5	449.5	449.5	430.5	430.5	430.5	397.5	397.5	397.5	6,000	5,253.5
Performance retainers: hours worked	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	538.7	521.4	532.9	527.5	540.9	523.3	538.5	533	532.025	532.025	532.025	532.025	516.9238	516.9238	477.8863	477.8863	477.8863	477.8863	457.4887	457.4887	457.4887	422.8462	422.8462	422.8462	6,384.3	5,586.3975
Product design and development retainers: fees (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	69,013.1125	68,866.571	68,782.8868	91,594.8052	91,498.5346	91,975.6837	92,597.2617	92,613.8049	88,918.9422	88,918.9422	88,918.9422	88,918.9422	44,876.5875	44,876.5875	44,876.5875	39,486.7979	39,486.7979	39,486.7979	35,445.2109	35,445.2109	35,445.2109	35,445.2109	35,445.2109	35,445.2109	1,022,618.4293	465,761.4214
Product design and development retainers: scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	620	620	620	835	835	835	835	835	835	835	835	835	437.5	437.5	437.5	383.75	383.75	383.75	345.75	345.75	345.75	345.75	345.75	345.75	9,375	4,538.25
Product design and development retainers: hours worked	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	724.3	710.4	714.3	952.1	946.2	929.8	946.3	929.7	948.64	948.64	948.64	948.64	492.2275	492.2275	492.2275	430.8925	430.8925	430.8925	389.315	389.315	389.315	389.315	389.315	389.315	10,647.66	5,105.25
RETAINER FEES (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	all contracts	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	198,790.6958	185,290.6958	185,290.6958	185,290.6958	132,498.3411	132,498.3411	128,998.3411	122,990.5623	122,990.5623	124,253.5582	118,387.7347	118,387.7347	118,387.7347	115,187.7347	115,187.7347	115,187.7347	2,243,951.0181	1,464,956.1144
of which contracts signed at the last actual month	TOTALS BY RETAINER TYPE (EUR and hours)		166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	198,790.6958	185,290.6958	185,290.6958	185,290.6958	129,388.8471	129,388.8471	125,888.8471	117,131.0683	117,131.0683	113,903.412	108,037.5885	108,037.5885	108,037.5885	104,837.5885	104,837.5885	104,837.5885	2,243,951.0181	1,371,457.6207
of which pipeline contracts (win-weighted)	TOTALS BY RETAINER TYPE (EUR and hours)		0	0	0	0	0	0	0	0	0	0	0	0	3,109.494	3,109.494	3,109.494	5,859.494	5,859.494	10,350.1462	10,350.1462	10,350.1462	10,350.1462	10,350.1462	10,350.1462	10,350.1462	0	93,498.4937
Scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)		1,630	1,630	1,630	1,845	1,845	1,985	1,985	1,985	1,985	1,845	1,845	1,845	1,357.25	1,357.25	1,321	1,258.75	1,258.75	1,265.75	1,208.75	1,208.75	1,208.75	1,175.75	1,175.75	1,175.75	22,055	14,972.25
Hours worked	TOTALS BY RETAINER TYPE (EUR and hours)		1,879.6	1,838.3	1,857.8	2,080.1	2,083.8	2,204.3	2,236.1	2,224.9	2,235.8858	2,067.7733	2,067.7733	2,067.7733	1,500.2346	1,500.2346	1,461.1971	1,393.2996	1,393.2996	1,406.3912	1,344.4162	1,344.4162	1,344.4162	1,309.7738	1,309.7738	1,309.7738	24,844.1058	16,617.2267
Overservice hours	TOTALS BY RETAINER TYPE (EUR and hours)		249.6	208.3	227.8	235.1	238.8	219.3	251.1	239.9	250.8858	222.7733	222.7733	222.7733	142.9846	142.9846	140.1971	134.5496	134.5496	140.6413	135.6662	135.6662	135.6662	134.0238	134.0238	134.0238	2,789.1058	1,644.9767
Overservice cost at standard (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)		12,405.548	10,376.6116	11,314.9693	11,825.9492	11,955.5181	10,921.8751	12,528.1587	11,880.9399	12,534.9064	11,227.0117	11,227.0117	11,227.0117	7,388.1457	7,388.1457	7,252.1948	6,917.7801	6,917.7801	7,213.9397	6,943.6252	6,943.6252	6,943.6252	6,863.5178	6,863.5178	6,863.5178	139,425.5114	84,499.4153
Overservicing % (hours above scope / scoped hours)	TOTALS BY RETAINER TYPE (EUR and hours)		15.31%	12.78%	13.98%	12.74%	12.94%	11.05%	12.65%	12.09%	12.64%	12.07%	12.07%	12.07%	10.53%	10.53%	10.61%	10.69%	10.69%	11.11%	11.22%	11.22%	11.22%	11.4%	11.4%	11.4%	12.65%	10.99%
Active retainers (weighted count)	TOTALS BY RETAINER TYPE (EUR and hours)		9	9	9	10	10	11	11	11	11	10	10	10	8.7	8.7	8.45	8.25	8.25	8.2	7.8	7.8	7.8	7.6	7.6	7.6	10.0833	8.0625
Retainer fee per hour worked (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)		88.6153	90.4948	89.5788	91.0402	90.8092	92.1738	91.2624	91.7342	88.9091	89.6088	89.6088	89.6088	88.3184	88.3184	88.2826	88.2729	88.2729	88.3492	88.0588	88.0588	88.0588	87.9448	87.9448	87.9448	90.3213	88.1589

FIXED-FEE PROJECTS: HOURS, PERCENTAGE OF COMPLETION, MILESTONE INVOICING AND PRODUCTION RECHARGES (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Programme position (elapsed share of duration)	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	effective dates, Project_Register	0.8571	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	3x^2 - 2x^3	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed		0.8017	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: timesheets; F: remaining hours x S-curve	133.4	51.6	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	185	0
Hours to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	opening + hours	738.4	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790
Estimated hours at completion	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: hours to date + estimate to complete; F: Project_Register	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790
Percentage complete	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	hours to date / hours at completion	93.47%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: contract incl. approved change requests; F: probability-weighted fee	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
Fee revenue to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: ledger; F: % complete x contract value	69,166.58	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
FEE REVENUE IN THE MONTH (EUR)	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	change in revenue to date	10,258.69	4,833.42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15,092.11	0
Milestone invoicing due to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	contract value x (deposit at start + interim at mid-point + balance at completion)	51,800	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
Fee invoiced	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: sales ledger; F: tops up to the milestone due	0	22,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	22,200	0
Fee invoiced to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed		51,800	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
Contract position: revenue to date less invoiced	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	+ unbilled work / - invoiced ahead	17,366.58	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed		4,833.42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	effective dates, Project_Register	0.625	0.75	0.875	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	3x^2 - 2x^3	0.6836	0.8438	0.957	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed		0.5	0.6836	0.8438	0.957	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: timesheets; F: remaining hours x S-curve	255.6	228.2	150.5	58.9	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	693.2	0
Hours to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	opening + hours	862.4	1,090.6	1,241.1	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300
Estimated hours at completion	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: hours to date + estimate to complete; F: Project_Register	1,250	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300
Percentage complete	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	hours to date / hours at completion	68.99%	83.89%	95.47%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: contract incl. approved change requests; F: probability-weighted fee	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee revenue to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: ledger; F: % complete x contract value	82,790.4	100,670.77	114,563.08	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
FEE REVENUE IN THE MONTH (GBP)	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	change in revenue to date	24,537.6	17,880.37	13,892.31	5,436.92	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,747.2	0
Milestone invoicing due to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	contract value x (deposit at start + interim at mid-point + balance at completion)	84,000	84,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee invoiced	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: sales ledger; F: tops up to the milestone due	48,000	0	0	36,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	84,000	0
Fee invoiced to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed		84,000	84,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Contract position: revenue to date less invoiced	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	+ unbilled work / - invoiced ahead	-1,209.6	16,670.77	30,563.08	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed		37,209.6	19,329.23	5,436.92	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	effective dates, Project_Register	0.6667	0.8333	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	3x^2 - 2x^3	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed		0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: timesheets; F: remaining hours x S-curve	246.3	156.6	91.3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	494.2	0
Hours to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	opening + hours	752.1	908.7	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
Estimated hours at completion	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: hours to date + estimate to complete; F: Project_Register	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
Percentage complete	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	hours to date / hours at completion	75.21%	90.87%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: contract incl. approved change requests; F: probability-weighted fee	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
Fee revenue to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: ledger; F: % complete x contract value	71,449.5	86,326.5	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
FEE REVENUE IN THE MONTH (GBP)	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	change in revenue to date	23,398.5	14,877	8,673.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	46,949	0
Milestone invoicing due to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	contract value x (deposit at start + interim at mid-point + balance at completion)	66,500	66,500	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
Fee invoiced	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: sales ledger; F: tops up to the milestone due	38,000	0	28,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	66,500	0
Fee invoiced to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed		66,500	66,500	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
Contract position: revenue to date less invoiced	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	+ unbilled work / - invoiced ahead	4,949.5	19,826.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed		23,550.5	8,673.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	effective dates, Project_Register	0	0.1111	0.2222	0.3333	0.4444	0.5556	0.6667	0.7778	0.8889	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	3x^2 - 2x^3	0	0.0343	0.1262	0.2593	0.417	0.583	0.7407	0.8738	0.9657	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress		0	0	0.0343	0.1262	0.2593	0.417	0.583	0.7407	0.8738	0.9657	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: timesheets; F: remaining hours x S-curve	0	74.8	229.1	313.3	455.4	504.2	476.8	433.7	387.5113	144.5937	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,019.405	0
Hours to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	opening + hours	0	74.8	303.9	617.2	1,072.6	1,576.8	2,053.6	2,487.3	2,874.8113	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405
Estimated hours at completion	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: hours to date + estimate to complete; F: Project_Register	3,019.405	2,300	2,300	2,300	2,600	2,750	2,900	2,950	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405	3,019.405
Percentage complete	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	hours to date / hours at completion	0%	3.25%	13.21%	26.83%	41.25%	57.34%	70.81%	84.32%	95.21%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	210,000	210,000	210,000	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
Fee revenue to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: ledger; F: % complete x contract value	0	6,829.57	27,747.39	56,353.04	93,439.96	129,870.98	160,393.24	190,974.05	215,653.3317	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
FEE REVENUE IN THE MONTH (USD)	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	change in revenue to date	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	24,679.2817	10,846.6683	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Milestone invoicing due to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	63,000	63,000	63,000	67,950	158,550	158,550	158,550	158,550	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
Fee invoiced	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: sales ledger; F: tops up to the milestone due	0	63,000	0	0	16,500	67,500	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Fee invoiced to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress		0	63,000	63,000	63,000	79,500	147,000	147,000	147,000	158,550	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
Contract position: revenue to date less invoiced	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	+ unbilled work / - invoiced ahead	0	-56,170.43	-35,252.61	-6,646.96	13,939.96	-17,129.02	13,393.24	43,974.05	57,103.3317	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress		0	203,170.43	182,252.61	153,646.96	133,060.04	96,629.02	66,106.76	35,525.95	10,846.6683	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	effective dates, Project_Register	0	0	0.1429	0.2857	0.4286	0.5714	0.7143	0.8571	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	3x^2 - 2x^3	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress		0	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	78.3	213.1	292.9	358.3	302.7	164.3	103.96	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,513.56	0
Hours to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	opening + hours	0	0	78.3	291.4	584.3	942.6	1,245.3	1,409.6	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56
Estimated hours at completion	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: hours to date + estimate to complete; F: Project_Register	1,513.56	1,513.56	1,450	1,450	1,450	1,500	1,500	1,500	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56	1,513.56
Percentage complete	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	hours to date / hours at completion	0%	0%	5.4%	20.1%	40.3%	62.84%	83.02%	93.97%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
Fee revenue to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: ledger; F: % complete x contract value	0	0	7,830	29,140	58,430	91,118	120,379	136,261.33	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
FEE REVENUE IN THE MONTH (GBP)	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	change in revenue to date	0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	8,738.67	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,000	0
Milestone invoicing due to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	43,500	43,500	43,500	101,500	101,500	101,500	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
Fee invoiced	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	43,500	0	0	58,000	0	0	43,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,000	0
Fee invoiced to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress		0	0	43,500	43,500	43,500	101,500	101,500	101,500	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
Contract position: revenue to date less invoiced	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	+ unbilled work / - invoiced ahead	0	0	-35,670	-14,360	14,930	-10,382	18,879	34,761.33	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress		0	0	137,170	115,860	86,570	53,882	24,621	8,738.67	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	effective dates, Project_Register	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	3x^2 - 2x^3	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress		0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	0	0	70.7	181.2	198.1	271.6	220.4714	88.1886	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,030.26	0
Hours to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	opening + hours	0	0	0	0	70.7	251.9	450	721.6	942.0714	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26
Estimated hours at completion	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: hours to date + estimate to complete; F: Project_Register	1,030.26	1,030.26	1,030.26	1,030.26	960	960	960	990	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26	1,030.26
Percentage complete	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	hours to date / hours at completion	0%	0%	0%	0%	7.36%	26.24%	46.88%	72.89%	91.44%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Fee revenue to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: ledger; F: % complete x contract value	0	0	0	0	7,070	25,190	45,000	69,973.33	87,782.557	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
FEE REVENUE IN THE MONTH (EUR)	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	change in revenue to date	0	0	0	0	7,070	18,120	19,810	24,973.33	17,809.227	8,217.443	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Milestone invoicing due to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	28,800	28,800	28,800	67,200	67,200	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Fee invoiced	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	0	0	28,800	0	0	38,400	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Fee invoiced to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress		0	0	0	0	28,800	28,800	28,800	67,200	67,200	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Contract position: revenue to date less invoiced	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	+ unbilled work / - invoiced ahead	0	0	0	0	-21,730	-3,610	16,200	2,773.33	20,582.557	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress		0	0	0	0	88,930	70,810	51,000	26,026.67	8,217.443	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	effective dates, Project_Register	0	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	3x^2 - 2x^3	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress		0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	42.2	103.6	129.6	157.5841	121.2185	48.4874	0	0	0	0	0	0	0	0	0	0	0	0	0	602.69	0
Hours to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	opening + hours	0	0	0	0	0	42.2	145.8	275.4	432.9841	554.2026	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69
Estimated hours at completion	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: hours to date + estimate to complete; F: Project_Register	602.69	602.69	602.69	602.69	602.69	560	560	560	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69	602.69
Percentage complete	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	hours to date / hours at completion	0%	0%	0%	0%	0%	7.54%	26.04%	49.18%	71.84%	91.95%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Fee revenue to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: ledger; F: % complete x contract value	0	0	0	0	0	4,220	14,580	27,540	40,231.4758	51,494.7074	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
FEE REVENUE IN THE MONTH (GBP)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	change in revenue to date	0	0	0	0	0	4,220	10,360	12,960	12,691.4758	11,263.2316	4,505.2926	0	0	0	0	0	0	0	0	0	0	0	0	0	56,000	0
Milestone invoicing due to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	16,800	16,800	16,800	39,200	39,200	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Fee invoiced	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	16,800	0	0	22,400	0	16,800	0	0	0	0	0	0	0	0	0	0	0	0	0	56,000	0
Fee invoiced to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress		0	0	0	0	0	16,800	16,800	16,800	39,200	39,200	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Contract position: revenue to date less invoiced	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	+ unbilled work / - invoiced ahead	0	0	0	0	0	-12,580	-2,220	10,740	1,031.4758	12,294.7074	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Third-party production cost (EUR)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: purchase ledger; F: remaining budget x S-curve	0	0	0	0	0	0	4,200	5,600	2,022.2222	1,555.5556	622.2222	0	0	0	0	0	0	0	0	0	0	0	0	0	14,000	0
Production recharged to the client (GBP)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	cost x (1 + mark-up) x average rate	0	0	0	0	0	0	4,147.7625	5,513.3484	2,071.4635	1,593.4335	637.3734	0	0	0	0	0	0	0	0	0	0	0	0	0	13,963.3812	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress		0	0	0	0	0	51,780	41,420	28,460	15,768.5242	4,505.2926	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	effective dates, Project_Register	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	3x^2 - 2x^3	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress		0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	77.5	204.4	272.1624	228.028	95.6246	0	0	0	0	0	0	0	0	0	0	0	0	0	877.715	0
Hours to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	opening + hours	0	0	0	0	0	0	77.5	281.9	554.0624	782.0904	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715
Estimated hours at completion	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: hours to date + estimate to complete; F: Project_Register	877.715	877.715	877.715	877.715	877.715	877.715	800	800	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715	877.715
Percentage complete	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	9.69%	35.24%	63.13%	89.11%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
Fee revenue to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: ledger; F: % complete x contract value	0	0	0	0	0	0	8,234.38	29,951.88	53,656.7162	75,739.4843	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
FEE REVENUE IN THE MONTH (GBP)	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	change in revenue to date	0	0	0	0	0	0	8,234.38	21,717.5	23,704.8362	22,082.7682	9,260.5157	0	0	0	0	0	0	0	0	0	0	0	0	0	85,000	0
Milestone invoicing due to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	25,500	25,500	59,500	59,500	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
Fee invoiced	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	25,500	0	34,000	0	25,500	0	0	0	0	0	0	0	0	0	0	0	0	0	85,000	0
Fee invoiced to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress		0	0	0	0	0	0	25,500	25,500	59,500	59,500	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
Contract position: revenue to date less invoiced	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	-17,265.62	4,451.88	-5,843.2838	16,239.4843	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress		0	0	0	0	0	0	76,765.62	55,048.12	31,343.2838	9,260.5157	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0.25	0.5	0.75	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted		0	0	0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	170.7031	375.5469	375.5469	170.7031	0	0	0	0	0	0	0	0	0	0	546.25	546.25
Hours to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	opening + hours	0	0	0	0	0	0	0	0	0	0	170.7031	546.25	921.7969	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	546.25	1,092.5
Estimated hours at completion	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: hours to date + estimate to complete; F: Project_Register	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5	1,092.5
Percentage complete	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	15.62%	50%	84.38%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	50%	100%
Contract value in force	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee revenue to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	18,750	60,000	101,250	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	60,000	120,000
FEE REVENUE IN THE MONTH (USD)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	change in revenue to date	0	0	0	0	0	0	0	0	0	0	18,750	41,250	41,250	18,750	0	0	0	0	0	0	0	0	0	0	60,000	60,000
Milestone invoicing due to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	36,000	36,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	36,000	120,000
Fee invoiced	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	36,000	0	48,000	36,000	0	0	0	0	0	0	0	0	0	0	36,000	84,000
Fee invoiced to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted		0	0	0	0	0	0	0	0	0	0	36,000	36,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	36,000	120,000
Contract position: revenue to date less invoiced	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	-17,250	24,000	17,250	0	0	0	0	0	0	0	0	0	0	0	24,000	0
Third-party production cost (EUR)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: purchase ledger; F: remaining budget x S-curve	0	0	0	0	0	0	0	0	0	0	4,687.5	10,312.5	10,312.5	4,687.5	0	0	0	0	0	0	0	0	0	0	15,000	15,000
Production recharged to the client (USD)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	cost x (1 + mark-up) x average rate	0	0	0	0	0	0	0	0	0	0	6,331.416	13,929.1152	13,929.1152	6,331.416	0	0	0	0	0	0	0	0	0	0	20,260.5312	20,260.5312
Remaining fee to earn (secured if signed; pipeline weighted)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted		0	0	0	0	0	0	0	0	120,000	120,000	101,250	60,000	18,750	0	0	0	0	0	0	0	0	0	0	0	60,000	0
Programme position (elapsed share of duration)	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.1429	0.2857	0.4286	0.5714	0.7143	0.8571	1	1	1
S-curve: cumulative share at month end	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1
S-curve: cumulative share at prior month end	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1
Hours worked	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	36.629	94.4643	129.1655	140.7325	129.1655	94.4643	36.629	0	0	0	661.25
Hours to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	36.629	131.0933	260.2587	400.9913	530.1567	624.621	661.25	661.25	661.25	0	661.25
Estimated hours at completion	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25	661.25
Percentage complete	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	5.54%	19.83%	39.36%	60.64%	80.17%	94.46%	100%	100%	100%	0%	100%
Contract value in force	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000	60,000
Fee revenue to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,323.6152	11,895.0437	23,615.1603	36,384.8397	48,104.9563	56,676.3848	60,000	60,000	60,000	0	60,000
FEE REVENUE IN THE MONTH (GBP)	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,323.6152	8,571.4286	11,720.1166	12,769.6793	11,720.1166	8,571.4286	3,323.6152	0	0	0	60,000
Milestone invoicing due to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18,000	18,000	18,000	42,000	42,000	42,000	60,000	60,000	60,000	0	60,000
Fee invoiced	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18,000	0	0	24,000	0	0	18,000	0	0	0	60,000
Fee invoiced to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18,000	18,000	18,000	42,000	42,000	42,000	60,000	60,000	60,000	0	60,000
Contract position: revenue to date less invoiced	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-14,676.3848	-6,104.9563	5,615.1603	-5,615.1603	6,104.9563	14,676.3848	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline		0	0	0	0	0	0	0	0	60,000	60,000	60,000	60,000	60,000	60,000	60,000	56,676.3848	48,104.9563	36,384.8397	23,615.1603	11,895.0437	3,323.6152	0	0	0	60,000	0
Programme position (elapsed share of duration)	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1	1	1
S-curve: cumulative share at month end	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1
Hours worked	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	38.3333	95.8333	124.5833	124.5833	95.8333	38.3333	0	0	0	0	0	0	0	517.5
Hours to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	38.3333	134.1667	258.75	383.3333	479.1667	517.5	517.5	517.5	517.5	517.5	517.5	517.5	0	517.5
Estimated hours at completion	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5	517.5
Percentage complete	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	7.41%	25.93%	50%	74.07%	92.59%	100%	100%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000
Fee revenue to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	3,555.5556	12,444.4444	24,000	35,555.5556	44,444.4444	48,000	48,000	48,000	48,000	48,000	48,000	48,000	0	48,000
FEE REVENUE IN THE MONTH (USD)	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	3,555.5556	8,888.8889	11,555.5556	11,555.5556	8,888.8889	3,555.5556	0	0	0	0	0	0	0	48,000
Milestone invoicing due to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	14,400	14,400	14,400	33,600	33,600	48,000	48,000	48,000	48,000	48,000	48,000	48,000	0	48,000
Fee invoiced	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	14,400	0	0	19,200	0	14,400	0	0	0	0	0	0	0	48,000
Fee invoiced to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	14,400	14,400	14,400	33,600	33,600	48,000	48,000	48,000	48,000	48,000	48,000	48,000	0	48,000
Contract position: revenue to date less invoiced	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	-10,844.4444	-1,955.5556	9,600	1,955.5556	10,844.4444	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline		0	0	0	0	0	0	0	0	48,000	48,000	48,000	48,000	44,444.4444	35,555.5556	24,000	12,444.4444	3,555.5556	0	0	0	0	0	0	0	48,000	0
Programme position (elapsed share of duration)	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0.25	0.5	0.75	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1
Hours worked	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	62.8906	138.3594	138.3594	62.8906	0	0	0	0	0	0	0	0	0	62.8906	339.6094
Hours to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	62.8906	201.25	339.6094	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	62.8906	402.5
Estimated hours at completion	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5	402.5
Percentage complete	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	15.62%	50%	84.38%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	15.62%	100%
Contract value in force	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000
Fee revenue to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	5,468.75	17,500	29,531.25	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	5,468.75	35,000
FEE REVENUE IN THE MONTH (EUR)	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	5,468.75	12,031.25	12,031.25	5,468.75	0	0	0	0	0	0	0	0	0	5,468.75	29,531.25
Milestone invoicing due to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	10,500	10,500	24,500	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	10,500	35,000
Fee invoiced	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	10,500	0	14,000	10,500	0	0	0	0	0	0	0	0	0	10,500	24,500
Fee invoiced to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	10,500	10,500	24,500	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	35,000	10,500	35,000
Contract position: revenue to date less invoiced	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	-5,031.25	7,000	5,031.25	0	0	0	0	0	0	0	0	0	0	-5,031.25	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline		0	0	0	0	0	0	0	0	35,000	35,000	35,000	29,531.25	17,500	5,468.75	0	0	0	0	0	0	0	0	0	0	29,531.25	0
Programme position (elapsed share of duration)	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1
S-curve: cumulative share at month end	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1
S-curve: cumulative share at prior month end	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1
Hours worked	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18.7407	46.8519	60.9074	60.9074	46.8519	18.7407	0	0	0	253
Hours to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18.7407	65.5926	126.5	187.4074	234.2593	253	253	253	0	253
Estimated hours at completion	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253	253
Percentage complete	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	7.41%	25.93%	50%	74.07%	92.59%	100%	100%	100%	0%	100%
Contract value in force	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000
Fee revenue to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,629.6296	5,703.7037	11,000	16,296.2963	20,370.3704	22,000	22,000	22,000	0	22,000
FEE REVENUE IN THE MONTH (EUR)	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,629.6296	4,074.0741	5,296.2963	5,296.2963	4,074.0741	1,629.6296	0	0	0	22,000
Milestone invoicing due to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,600	6,600	6,600	15,400	15,400	22,000	22,000	22,000	0	22,000
Fee invoiced	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,600	0	0	8,800	0	6,600	0	0	0	22,000
Fee invoiced to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,600	6,600	6,600	15,400	15,400	22,000	22,000	22,000	0	22,000
Contract position: revenue to date less invoiced	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-4,970.3704	-896.2963	4,400	896.2963	4,970.3704	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline		0	0	0	0	0	0	0	0	22,000	22,000	22,000	22,000	22,000	22,000	22,000	22,000	20,370.3704	16,296.2963	11,000	5,703.7037	1,629.6296	0	0	0	22,000	0
Programme position (elapsed share of duration)	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1	1	1	1	1
S-curve: cumulative share at month end	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1
S-curve: cumulative share at prior month end	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1
Hours worked	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	192.556	459.172	548.044	459.172	192.556	0	0	0	0	0	0	1,851.5
Hours to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	192.556	651.728	1,199.772	1,658.944	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	0	1,851.5
Estimated hours at completion	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5
Percentage complete	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	89.6%	100%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000
Fee revenue to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	59,136	108,864	150,528	168,000	168,000	168,000	168,000	168,000	168,000	0	168,000
FEE REVENUE IN THE MONTH (EUR)	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	41,664	49,728	41,664	17,472	0	0	0	0	0	0	168,000
Milestone invoicing due to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	50,400	117,600	117,600	168,000	168,000	168,000	168,000	168,000	168,000	0	168,000
Fee invoiced	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	0	67,200	0	50,400	0	0	0	0	0	0	168,000
Fee invoiced to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	50,400	117,600	117,600	168,000	168,000	168,000	168,000	168,000	168,000	0	168,000
Contract position: revenue to date less invoiced	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-32,928	8,736	-8,736	32,928	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	168,000	168,000	168,000	168,000	168,000	168,000	150,528	108,864	59,136	17,472	0	0	0	0	0	0	168,000	0
Programme position (elapsed share of duration)	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1	1
S-curve: cumulative share at month end	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1
S-curve: cumulative share at prior month end	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1
Hours worked	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	192.556	459.172	548.044	459.172	192.556	0	0	0	1,851.5
Hours to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	192.556	651.728	1,199.772	1,658.944	1,851.5	1,851.5	1,851.5	0	1,851.5
Estimated hours at completion	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5
Percentage complete	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	89.6%	100%	100%	100%	0%	100%
Contract value in force	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000
Fee revenue to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	59,136	108,864	150,528	168,000	168,000	168,000	0	168,000
FEE REVENUE IN THE MONTH (EUR)	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	41,664	49,728	41,664	17,472	0	0	0	168,000
Milestone invoicing due to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	50,400	117,600	117,600	168,000	168,000	168,000	0	168,000
Fee invoiced	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	0	67,200	0	50,400	0	0	0	168,000
Fee invoiced to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	50,400	117,600	117,600	168,000	168,000	168,000	0	168,000
Contract position: revenue to date less invoiced	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-32,928	8,736	-8,736	32,928	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	150,528	108,864	59,136	17,472	0	0	0	168,000	0
Programme position (elapsed share of duration)	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6	0.8
S-curve: cumulative share at month end	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896
S-curve: cumulative share at prior month end	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648
Hours worked	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	192.556	459.172	548.044	459.172	0	1,658.944
Hours to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	192.556	651.728	1,199.772	1,658.944	0	1,658.944
Estimated hours at completion	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5
Percentage complete	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	89.6%	0%	89.6%
Contract value in force	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000
Fee revenue to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	59,136	108,864	150,528	0	150,528
FEE REVENUE IN THE MONTH (EUR)	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	41,664	49,728	41,664	0	150,528
Milestone invoicing due to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	50,400	117,600	117,600	0	117,600
Fee invoiced	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	0	67,200	0	0	117,600
Fee invoiced to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	50,400	117,600	117,600	0	117,600
Contract position: revenue to date less invoiced	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-32,928	8,736	-8,736	32,928	0	32,928
Remaining fee to earn (secured if signed; pipeline weighted)	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	150,528	108,864	59,136	17,472	168,000	17,472
Programme position (elapsed share of duration)	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2
S-curve: cumulative share at month end	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104
S-curve: cumulative share at prior month end	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Hours worked	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	192.556	0	192.556
Hours to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	192.556	0	192.556
Estimated hours at completion	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5	1,851.5
Percentage complete	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	0%	10.4%
Contract value in force	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000
Fee revenue to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	0	17,472
FEE REVENUE IN THE MONTH (EUR)	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	0	17,472
Milestone invoicing due to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	0	50,400
Fee invoiced	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	0	50,400
Fee invoiced to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	0	50,400
Contract position: revenue to date less invoiced	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-32,928	0	-32,928
Remaining fee to earn (secured if signed; pipeline weighted)	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	168,000	150,528	168,000	150,528
Project hours	TOTALS (EUR where stated)	sum of projects	635.3	511.2	549.2	585.3	819	1,085.9	1,158.7	1,203.6	1,141.6892	582.0288	314.8152	438.4375	552.2396	404.8958	380.03	620.3843	757.0824	866.0786	853.3679	738.1169	793.0441	707.0977	548.044	651.728	9,025.1706	7,872.1094
Third-party production cost (EUR)	TOTALS (EUR where stated)		0	0	0	0	0	0	4,200	5,600	2,022.2222	1,555.5556	5,309.7222	10,312.5	10,312.5	4,687.5	0	0	0	0	0	0	0	0	0	0	29,000	15,000
Project fee revenue (EUR at the monthly average rate)	TOTALS (EUR where stated)		65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	88,944.625	54,647.8052	31,001.8345	39,673.1839	49,183.9449	34,949.3724	32,522.5981	54,977.1481	68,351.1083	79,316.0771	78,768.3436	68,182.0383	72,832.9003	64,496.9296	49,728	59,136	813,972.5017	712,444.4608
Secured remaining fees (EUR at the monthly average rate)	TOTALS (EUR where stated)		74,720.8136	203,419.2598	319,901.796	266,042.8103	302,799.593	276,919.8899	275,084.0736	164,561.4833	169,605.9774	114,958.1722	83,956.3377	49,751.9038	15,547.4699	0	0	0	0	0	0	0	0	0	0	0	49,751.9038	0
Pipeline remaining fees, win-weighted (EUR)	TOTALS (EUR where stated)		0	0	0	0	0	0	0	0	836,161.3069	836,161.3069	836,161.3069	830,692.5569	815,713.046	796,311.1436	763,788.5454	708,811.3973	640,460.289	561,144.2119	482,375.8683	414,193.83	341,360.9296	276,864	227,136	168,000	830,692.5569	168,000

TIME AND MATERIALS AND MEDIA MANAGEMENT (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
ASH: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	257.5	224.5	222.5	190.7	206.7	215.2	169	246.3	216	224.2025	207.7975	166.7848	207.7975	199.5949	216	205.0633	205.0633	188.6582	153.1139	185.9241	216	224.2025	207.7975	166.7848	2,547.1848	2,376
ASH: hourly rate (GBP)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88	88
ASH: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	9.3%	8.29%	5.07%	11.37%	10.21%	6.39%	8.14%	9.48%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	12.51%	9.86%	12.51%
ASH: revenue (GBP)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	16,629.6649	17,261.1712	15,998.1587	12,840.6274	15,998.1587	15,366.6524	16,629.6649	15,787.6566	15,787.6566	14,524.6441	11,788.1169	14,314.142	16,629.6649	17,261.1712	15,998.1587	12,840.6274	202,203.7422	182,926.3144
ASH: invoiced (GBP)	TIME AND MATERIALS	A: sales ledger; F: prior month work	14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	16,629.6649	17,261.1712	15,998.1587	12,840.6274	15,998.1587	15,366.6524	16,629.6649	15,787.6566	15,787.6566	14,524.6441	11,788.1169	14,314.142	16,629.6649	17,261.1712	15,998.1587	203,558.5048	182,926.3144
ASH: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	28,325	24,695	24,475	20,977	22,737	23,672	18,590	27,093	23,760	24,662.2785	22,857.7215	18,346.3291	22,857.7215	21,955.443	23,760	22,556.962	22,556.962	20,752.4051	16,842.5316	20,451.6456	23,760	24,662.2785	22,857.7215	18,346.3291	280,190.3291	261,360
CAR: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	0	0	96.2	91.5	99.9	86.4	64.5	90.6	88.3636	91.7192	85.0081	68.2301	85.0081	81.6525	88.3636	83.8895	83.8895	77.1784	62.6375	76.0598	88.3636	91.7192	85.0081	68.2301	862.4211	972
CAR: hourly rate (EUR)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98	98
CAR: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	0%	0%	7.63%	6.41%	5.02%	2.28%	6.22%	6.36%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	9.66%	6.05%	9.66%
CAR: revenue (EUR)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	7,822.8837	8,119.9552	7,525.8121	6,040.4545	7,525.8121	7,228.7406	7,822.8837	7,426.7883	7,426.7883	6,832.6452	5,545.3353	6,733.6214	7,822.8837	8,119.9552	7,525.8121	6,040.4545	78,424.7055	86,051.7203
CAR: invoiced (EUR)	TIME AND MATERIALS	A: sales ledger; F: prior month work	0	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	7,822.8837	8,119.9552	7,525.8121	6,040.4545	7,525.8121	7,228.7406	7,822.8837	7,426.7883	7,426.7883	6,832.6452	5,545.3353	6,733.6214	7,822.8837	8,119.9552	7,525.8121	72,384.251	86,051.7203
CAR: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	0	0	10,582	10,065	10,989	9,504	7,095	9,966	9,720	10,089.1139	9,350.8861	7,505.3165	9,350.8861	8,981.7722	9,720	9,227.8481	9,227.8481	8,489.6203	6,890.1266	8,366.5823	9,720	10,089.1139	9,350.8861	7,505.3165	94,866.3165	106,920
TWL: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	0	0	0	0	0	0	0	0	0	61.1461	56.672	45.4868	56.672	54.435	58.9091	55.9264	55.9264	51.4522	41.7583	50.7066	58.9091	61.1461	56.672	45.4868	163.3049	648
TWL: hourly rate (GBP)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85	85
TWL: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	0%	0%	0%	0%	0%	0%	0%	0%	9%	9%	9%	9%	9%	9%	9%	9%	9%	9%	9%	9%	9%	9%	9%	9%	3%	9%
TWL: revenue (GBP)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	0	0	0	0	0	0	0	0	0	4,729.6543	4,383.582	3,518.4014	4,383.582	4,210.5459	4,556.6182	4,325.9033	4,325.9033	3,979.8311	3,230.0078	3,922.1524	4,556.6182	4,729.6543	4,383.582	3,518.4014	12,631.6377	50,122.8
TWL: invoiced (GBP)	TIME AND MATERIALS	A: sales ledger; F: prior month work	0	0	0	0	0	0	0	0	0	0	4,729.6543	4,383.582	3,518.4014	4,383.582	4,210.5459	4,556.6182	4,325.9033	4,325.9033	3,979.8311	3,230.0078	3,922.1524	4,556.6182	4,729.6543	4,383.582	9,113.2364	50,122.8
TWL: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	0	0	0	0	0	0	0	0	0	6,726.0759	6,233.9241	5,003.5443	6,233.9241	5,987.8481	6,480	6,151.8987	6,151.8987	5,659.7468	4,593.4177	5,577.7215	6,480	6,726.0759	6,233.9241	5,003.5443	17,963.5443	71,280
OTH: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	115.9	109.7	133.7	145	113.4	121.3	95.8	99	117.8182	122.2923	113.3441	90.9735	113.3441	108.87	117.8182	111.8527	111.8527	102.9045	83.5167	101.4131	117.8182	122.2923	113.3441	90.9735	1,378.2281	1,296
OTH: hourly rate (EUR)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92	92
OTH: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	9.37%	12.8%	17.57%	14.88%	10.83%	10.96%	12.83%	15.1%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	17.15%	14.41%	17.15%
OTH: revenue (EUR)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	8,980.4008	9,321.4287	8,639.373	6,934.2336	8,639.373	8,298.3451	8,980.4008	8,525.697	8,525.697	7,843.6412	6,365.8538	7,729.9653	8,980.4008	9,321.4287	8,639.373	6,934.2336	108,488.4261	98,784.4093
OTH: invoiced (EUR)	TIME AND MATERIALS	A: sales ledger; F: prior month work	7,861.33	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	8,980.4008	9,321.4287	8,639.373	6,934.2336	8,639.373	8,298.3451	8,980.4008	8,525.697	8,525.697	7,843.6412	6,365.8538	7,729.9653	8,980.4008	9,321.4287	8,639.373	109,415.5225	98,784.4093
OTH: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	12,749	12,067	14,707	15,950	12,474	13,343	10,538	10,890	12,960	13,452.1519	12,467.8481	10,007.0886	12,467.8481	11,975.6962	12,960	12,303.7975	12,303.7975	11,319.4937	9,186.8354	11,155.443	12,960	13,452.1519	12,467.8481	10,007.0886	151,605.0886	142,560
Time and materials hours	TIME AND MATERIALS		373.4	334.2	452.4	427.2	420	422.9	329.3	435.9	422.1818	499.3602	462.8216	371.4753	462.8216	444.5524	481.0909	456.7319	456.7319	420.1933	341.0265	414.1036	481.0909	499.3602	462.8216	371.4753	4,951.1389	5,292
Time and materials revenue (EUR)	TIME AND MATERIALS		33,303.601	29,595.2242	40,155.662	36,895.9525	37,446.0124	38,717.0875	29,519.827	38,965.4466	35,472.7951	42,129.6715	39,047.0126	31,340.3654	39,047.0126	37,505.6832	40,588.342	38,533.2361	38,533.2361	35,450.5772	28,771.483	34,936.8008	40,588.342	42,129.6715	39,047.0126	31,340.3654	432,588.6578	446,471.7625
Standard value of time and materials hours (EUR)	TIME AND MATERIALS		41,074	36,762	49,764	46,992	46,200	46,519	36,223	47,949	46,440	54,929.6203	50,910.3797	40,862.2785	50,910.3797	48,900.7595	52,920	50,240.5063	50,240.5063	46,221.2658	37,512.9114	45,551.3924	52,920	54,929.6203	50,910.3797	40,862.2785	544,625.2785	582,120
Time and materials realisation (revenue / standard value)	TIME AND MATERIALS		81.08%	80.5%	80.69%	78.52%	81.05%	83.23%	81.49%	81.26%	76.38%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	76.7%	79.43%	76.7%
THV: media spend rebilled (GBP)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	49,500	54,450	66,825	59,400	42,075	42,075	47,025	39,600	39,600	37,620	33,660	35,640	39,600	43,560	53,460	47,520	658,572.39	501,435
THV: media management fee (GBP)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	4,950	5,445	6,682.5	5,940	4,207.5	4,207.5	4,702.5	3,960	3,960	3,762	3,366	3,564	3,960	4,356	5,346	4,752	65,857.24	50,143.5
THV: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	720	720
HOC: media spend rebilled (USD)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	81,000	89,100	109,350	97,200	68,850	68,850	76,950	81,000	81,000	76,950	55,080	58,320	64,800	71,280	87,480	77,760	1,044,374.31	868,320
HOC: media management fee (USD)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	7,290	8,019	9,841.5	8,748	6,196.5	6,196.5	6,925.5	7,290	7,290	6,925.5	4,957.2	5,248.8	5,832	6,415.2	7,873.2	6,998.4	93,993.69	78,148.8
HOC: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	840	840
LIN: media spend rebilled (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	36,651.48	36,033.18	37,761.67	41,489.22	37,868.66	40,561.35	35,029.41	35,093.95	36,000	39,600	48,600	43,200	30,600	30,600	34,200	36,000	36,000	34,200	30,600	32,400	36,000	31,680	38,880	34,560	467,888.92	405,720
LIN: media management fee (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	3,665.15	3,603.32	3,776.17	4,148.92	3,786.87	4,056.14	3,502.94	3,509.39	3,600	3,960	4,860	4,320	3,060	3,060	3,420	3,600	3,600	3,420	3,060	3,240	3,600	3,168	3,888	3,456	46,788.9	40,572
LIN: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	540	540
TAM: media spend rebilled (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	17,814.1	19,471.68	20,102.78	21,367.75	20,600.91	21,373.1	20,230.83	21,912.78	19,800	21,780	26,730	23,760	14,305.5	14,305.5	15,988.5	16,830	16,830	15,988.5	14,305.5	15,147	16,830	18,513	22,720.5	20,196	254,943.93	201,960
TAM: media management fee (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	2,137.69	2,336.6	2,412.33	2,564.13	2,472.11	2,564.77	2,427.7	2,629.53	2,376	2,613.6	3,207.6	2,851.2	1,716.66	1,716.66	1,918.62	2,019.6	2,019.6	1,918.62	1,716.66	1,817.64	2,019.6	2,221.56	2,726.46	2,423.52	30,593.26	24,235.2
TAM: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	360	360
VDH: media spend rebilled (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	26,297.13	26,644.31	28,793.82	30,973.38	31,211.42	29,702.68	24,993.32	24,881.93	27,000	29,700	36,450	32,400	22,950	22,950	19,237.5	20,250	20,250	19,237.5	17,212.5	18,225	20,250	22,275	27,337.5	24,300	349,047.99	254,475
VDH: media management fee (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	2,629.71	2,664.43	2,879.38	3,097.34	3,121.14	2,970.27	2,499.33	2,488.19	2,700	2,970	3,645	3,240	2,295	2,295	1,923.75	2,025	2,025	1,923.75	1,721.25	1,822.5	2,025	2,227.5	2,733.75	2,430	34,904.79	25,447.5
VDH: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	480	480
Media spend rebilled (EUR): pass-through, not revenue	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		197,458.8042	195,290.5747	219,059.5025	241,000.8898	234,907.7945	223,392.8507	214,762.2655	230,207.1313	205,536.8919	226,090.5811	277,474.804	246,644.2703	172,181.8581	172,181.8581	186,026.0473	184,702.5275	184,702.5275	175,467.4012	145,579.0865	154,142.5622	171,269.5135	180,476.4649	221,493.8432	196,883.4162	2,711,826.3604	2,145,107.1061
Media management fees (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		19,530.4067	19,335.0268	21,595.5016	23,771.4365	23,099.434	22,018.8784	21,094.5728	22,676.7917	20,278.0385	22,305.8423	27,375.352	24,333.6462	16,933.3927	16,933.3927	18,284.3066	18,135.2021	18,135.2021	17,228.4419	14,387.2962	15,233.6077	16,926.2308	17,826.8539	21,878.4116	19,447.4769	267,414.9275	211,349.8151
Media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	2,940	2,940
Effective media fee (fees / spend)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		9.89%	9.9%	9.86%	9.86%	9.83%	9.86%	9.82%	9.85%	9.87%	9.87%	9.87%	9.87%	9.83%	9.83%	9.83%	9.82%	9.82%	9.82%	9.88%	9.88%	9.88%	9.88%	9.88%	9.88%	9.86%	9.85%

DELIVERY CAPACITY: HOURS BY ROLE, UTILISATION, FREELANCERS, STANDARD VALUE AND REALISATION
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Brand and content retainers	HOURS BY WORK TYPE (all clients)	engine sheets	616.6	606.5	610.6	600.5	596.7	751.2	751.3	762.2	755.2208	587.1083	587.1083	587.1083	491.0833	491.0833	491.0833	484.5208	484.5208	497.6125	497.6125	497.6125	497.6125	497.6125	497.6125	497.6125	7,812.1458	5,925.5792
Performance retainers	HOURS BY WORK TYPE (all clients)	engine sheets	538.7	521.4	532.9	527.5	540.9	523.3	538.5	533	532.025	532.025	532.025	532.025	516.9238	516.9238	477.8863	477.8863	477.8863	477.8863	457.4887	457.4887	457.4887	422.8462	422.8462	422.8462	6,384.3	5,586.3975
Product design and development retainers	HOURS BY WORK TYPE (all clients)	engine sheets	724.3	710.4	714.3	952.1	946.2	929.8	946.3	929.7	948.64	948.64	948.64	948.64	492.2275	492.2275	492.2275	430.8925	430.8925	430.8925	389.315	389.315	389.315	389.315	389.315	389.315	10,647.66	5,105.25
Fixed-fee projects	HOURS BY WORK TYPE (all clients)	engine sheets	635.3	511.2	549.2	585.3	819	1,085.9	1,158.7	1,203.6	1,141.6892	582.0288	314.8152	438.4375	552.2396	404.8958	380.03	620.3843	757.0824	866.0786	853.3679	738.1169	793.0441	707.0977	548.044	651.728	9,025.1706	7,872.1094
Time and materials	HOURS BY WORK TYPE (all clients)	engine sheets	373.4	334.2	452.4	427.2	420	422.9	329.3	435.9	422.1818	499.3602	462.8216	371.4753	462.8216	444.5524	481.0909	456.7319	456.7319	420.1933	341.0265	414.1036	481.0909	499.3602	462.8216	371.4753	4,951.1389	5,292
Media management	HOURS BY WORK TYPE (all clients)	engine sheets	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	2,940	2,940
TOTAL HOURS DEMANDED	HOURS BY WORK TYPE (all clients)		3,133.3	2,928.7	3,104.4	3,337.6	3,567.8	3,958.1	3,969.1	4,109.4	4,044.7568	3,394.1623	3,090.4101	3,122.6861	2,760.2958	2,594.6828	2,567.318	2,715.4158	2,852.1138	2,937.6632	2,783.8106	2,741.6367	2,863.5513	2,761.2317	2,565.6394	2,577.977	41,760.4154	32,721.336
Development and QA: +1 from Oct-26 (Quillfield launch campaign (contracted))	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Performance marketing: +1 from Nov-26 (media growth on existing accounts)	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Development and QA: +1 from Jan-27 (Ferncliff retainer (pipeline))	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Creative and design: +1 from Mar-27 (Brackenholt portal (pipeline))	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Delivery hires in the month (weighted)	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capacity cut in the month (FTE, scenario)	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	Assumptions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4	0	0	0	0	0	0	0	0	0	0	4
Headcount	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: payroll; F: prior month + weighted hires - share of any capacity cut	5	5	5	5	5	5	5	5	5	5	5	5	5	5	4.3939	4.3939	4.3939	4.3939	4.3939	4.3939	4.3939	4.3939	4.3939	4.3939	5	4.3939
Productive hours available	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	headcount x productive hours per FTE	760	730	790	750	750	690	560	680	790	820	760	610	760	730	694.2424	659.0909	659.0909	606.3636	492.1212	597.5758	694.2424	720.6061	667.8788	536.0606	8,690	7,817.2727
Billable hours demanded	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: own + freelancer timesheets; F: hours by work type x role mix	351.797	336.066	341.959	365.999	385.431	430.313	440.085	443.154	438.6926	363.6596	342.2825	352.1723	296.0855	284.298	276.4531	288.3667	299.3025	310.3787	302.1445	292.9244	297.3186	285.2465	272.5222	280.8169	4,591.6109	3,485.8576
Billable hours worked by own staff	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: timesheets; F: min(demand, capacity x maximum utilisation)	351.7	336	341.9	365.9	385.4	430.3	440	443.1	438.6926	363.6596	342.2825	352.1723	296.0855	284.298	276.4531	288.3667	299.3025	310.3787	302.1445	292.9244	297.3186	285.2465	272.5222	280.8169	4,591.1069	3,485.8576
Billable hours bought from freelancers	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: freelancer timesheets; F: demand - own	0.097	0.066	0.059	0.099	0.031	0.013	0.085	0.054	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.504	0
Utilisation (own billable / productive hours)	ROLE: STRATEGY AND ACCOUNT MANAGEMENT		46.28%	46.03%	43.28%	48.79%	51.39%	62.36%	78.57%	65.16%	55.53%	44.35%	45.04%	57.73%	38.96%	38.94%	39.82%	43.75%	45.41%	51.19%	61.4%	49.02%	42.83%	39.58%	40.8%	52.39%	52.83%	44.59%
Standard value of hours (EUR, rate card)	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	(own + freelancer hours) x rate card	43,974.625	42,008.25	42,744.875	45,749.875	48,178.875	53,789.125	55,010.625	55,394.25	54,836.5791	45,457.4443	42,785.3079	44,021.5312	37,010.6849	35,537.2474	34,556.6355	36,045.8356	37,412.8158	38,797.3411	37,768.062	36,615.5514	37,164.8242	35,655.8134	34,065.2759	35,102.1159	573,951.3625	435,732.2031
Headcount	ROLE: CREATIVE AND DESIGN	A: payroll; F: prior month + weighted hires - share of any capacity cut	9	9	9	9	8	8	9	9	9	9	9	9	9	9	7.9091	7.9091	7.9091	7.9091	7.9091	7.9091	7.9091	7.9091	7.9091	7.9091	9	7.9091
Productive hours available	ROLE: CREATIVE AND DESIGN	headcount x productive hours per FTE	1,368	1,314	1,422	1,350	1,200	1,104	1,008	1,224	1,422	1,476	1,368	1,098	1,368	1,314	1,249.6364	1,186.3636	1,186.3636	1,091.4545	885.8182	1,075.6364	1,249.6364	1,297.0909	1,202.1818	964.9091	15,354	14,071.0909
Billable hours demanded	ROLE: CREATIVE AND DESIGN	A: own + freelancer timesheets; F: hours by work type x role mix	830.321	771.158	822.075	904.695	970.972	1,093.5	1,094.891	1,137.359	1,118.949	920.4084	829.2827	838.9655	708.2255	658.5416	657.3589	698.5903	739.5997	765.5263	720.9632	708.311	744.8854	720.4252	661.7475	665.4488	11,332.5765	8,449.6233
Billable hours worked by own staff	ROLE: CREATIVE AND DESIGN	A: timesheets; F: min(demand, capacity x maximum utilisation)	830.3	771.1	822	904.6	970.9	984.5	885.2	1,059.8	1,118.949	920.4084	829.2827	838.9655	708.2255	658.5416	657.3589	698.5903	739.5997	765.5263	720.9632	708.311	744.8854	720.4252	661.7475	665.4488	10,936.0055	8,449.6233
Billable hours bought from freelancers	ROLE: CREATIVE AND DESIGN	A: freelancer timesheets; F: demand - own	0.021	0.058	0.075	0.095	0.072	109	209.691	77.559	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	396.571	0
Utilisation (own billable / productive hours)	ROLE: CREATIVE AND DESIGN		60.69%	58.68%	57.81%	67.01%	80.91%	89.18%	87.82%	86.58%	78.69%	62.36%	60.62%	76.41%	51.77%	50.12%	52.6%	58.89%	62.34%	70.14%	81.39%	65.85%	59.61%	55.54%	55.05%	68.96%	71.23%	60.05%
Standard value of hours (EUR, rate card)	ROLE: CREATIVE AND DESIGN	(own + freelancer hours) x rate card	87,183.705	80,971.59	86,317.875	94,992.975	101,952.06	114,817.5	114,963.555	119,422.695	117,489.6408	96,642.8781	87,074.6841	88,091.3769	74,363.6782	69,146.8679	69,022.6847	73,351.977	77,657.9645	80,380.263	75,701.1375	74,372.6579	78,212.9685	75,644.6439	69,483.4865	69,872.1217	1,189,920.5349	887,210.4513
Headcount	ROLE: CONTENT, COPY AND VIDEO	A: payroll; F: prior month + weighted hires - share of any capacity cut	5	5	5	5	4	4	4	4	4	4	4	4	4	4	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	4	3.5152
Productive hours available	ROLE: CONTENT, COPY AND VIDEO	headcount x productive hours per FTE	760	730	790	750	600	552	448	544	632	656	608	488	608	584	555.3939	527.2727	527.2727	485.0909	393.697	478.0606	555.3939	576.4848	534.303	428.8485	7,558	6,253.8182
Billable hours demanded	ROLE: CONTENT, COPY AND VIDEO	A: own + freelancer timesheets; F: hours by work type x role mix	317.606	305.617	310.447	308.015	320.112	385.244	390.895	396.24	390.575	303.7526	290.3919	296.573	266.6912	259.324	253.0059	262.7267	269.5616	279.5935	276.3063	270.5438	273.2901	264.4893	256.5366	261.7208	4,015.4686	3,193.7899
Billable hours worked by own staff	ROLE: CONTENT, COPY AND VIDEO	A: timesheets; F: min(demand, capacity x maximum utilisation)	317.6	305.6	310.4	308	320.1	385.2	390.8	396.2	390.575	303.7526	290.3919	296.573	266.6912	259.324	253.0059	262.7267	269.5616	279.5935	276.3063	270.5438	273.2901	264.4893	256.5366	261.7208	4,015.1926	3,193.7899
Billable hours bought from freelancers	ROLE: CONTENT, COPY AND VIDEO	A: freelancer timesheets; F: demand - own	0.006	0.017	0.047	0.015	0.012	0.044	0.095	0.04	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.276	0
Utilisation (own billable / productive hours)	ROLE: CONTENT, COPY AND VIDEO		41.79%	41.86%	39.29%	41.07%	53.35%	69.78%	87.23%	72.83%	61.8%	46.3%	47.76%	60.77%	43.86%	44.4%	45.55%	49.83%	51.12%	57.64%	70.18%	56.59%	49.21%	45.88%	48.01%	61.03%	53.13%	51.07%
Standard value of hours (EUR, rate card)	ROLE: CONTENT, COPY AND VIDEO	(own + freelancer hours) x rate card	28,584.54	27,505.53	27,940.23	27,721.35	28,810.08	34,671.96	35,180.55	35,661.6	35,151.75	27,337.7346	26,135.2732	26,691.5737	24,002.211	23,339.1641	22,770.5289	23,645.4049	24,260.546	25,163.4167	24,867.5677	24,348.938	24,596.1107	23,804.0347	23,088.2929	23,554.8709	361,392.1716	287,441.0867
Headcount	ROLE: DEVELOPMENT AND QA	A: payroll; F: prior month + weighted hires - share of any capacity cut	7	7	7	8	8	8	8	8	8	8	8	8	8	8	7.0303	7.0303	7.0303	7.0303	7.0303	7.0303	7.0303	7.0303	7.0303	7.0303	8	7.0303
Productive hours available	ROLE: DEVELOPMENT AND QA	headcount x productive hours per FTE	1,064	1,022	1,106	1,200	1,200	1,104	896	1,088	1,264	1,312	1,216	976	1,216	1,168	1,110.7879	1,054.5455	1,054.5455	970.1818	787.3939	956.1212	1,110.7879	1,152.9697	1,068.6061	857.697	13,448	12,507.6364
Billable hours demanded	ROLE: DEVELOPMENT AND QA	A: own + freelancer timesheets; F: hours by work type x role mix	835.299	753.099	841.857	948.606	1,039.671	1,150.764	1,132.608	1,208.283	1,182.3632	988.5695	854.4166	851.5302	745.8685	673.0225	684.502	743.0378	800.451	824.699	753.1505	748.5913	811.8532	786.7173	697.9916	686.731	11,787.0664	8,956.6158
Billable hours worked by own staff	ROLE: DEVELOPMENT AND QA	A: timesheets; F: min(demand, capacity x maximum utilisation)	835.2	753	841.8	948.6	1,039.6	980.4	763.6	960.9	1,112.32	988.5695	854.4166	851.5302	745.8685	673.0225	684.502	743.0378	800.451	824.699	692.9067	748.5913	811.8532	786.7173	697.9916	686.731	10,929.9362	8,896.3719
Billable hours bought from freelancers	ROLE: DEVELOPMENT AND QA	A: freelancer timesheets; F: demand - own	0.099	0.099	0.057	0.006	0.071	170.364	369.008	247.383	70.0432	0	0	0	0	0	0	0	0	0	60.2439	0	0	0	0	0	857.1302	60.2439
Utilisation (own billable / productive hours)	ROLE: DEVELOPMENT AND QA		78.5%	73.68%	76.11%	79.05%	86.63%	88.8%	85.22%	88.32%	88%	75.35%	70.26%	87.25%	61.34%	57.62%	61.62%	70.46%	75.9%	85%	88%	78.29%	73.09%	68.23%	65.32%	80.07%	81.28%	71.13%
Standard value of hours (EUR, rate card)	ROLE: DEVELOPMENT AND QA	(own + freelancer hours) x rate card	96,059.385	86,606.385	96,813.555	109,089.69	119,562.165	132,337.86	130,249.92	138,952.545	135,971.7638	113,685.4876	98,257.9088	97,925.9679	85,774.8753	77,397.5921	78,717.7303	85,449.3469	92,051.8612	94,840.3876	86,612.3109	86,088.0048	93,363.1189	90,472.4884	80,269.0323	78,974.0696	1,355,512.6331	1,030,010.8184
Headcount	ROLE: PERFORMANCE MARKETING	A: payroll; F: prior month + weighted hires - share of any capacity cut	4	4	4	4	4	4	4	4	4	4	4	4	4	4	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	3.5152	4	3.5152
Productive hours available	ROLE: PERFORMANCE MARKETING	headcount x productive hours per FTE	608	584	632	600	600	552	448	544	632	656	608	488	608	584	555.3939	527.2727	527.2727	485.0909	393.697	478.0606	555.3939	576.4848	534.303	428.8485	6,952	6,253.8182
Billable hours demanded	ROLE: PERFORMANCE MARKETING	A: own + freelancer timesheets; F: hours by work type x role mix	504.617	494.9	501.307	498.135	505.429	498.839	507.201	504.394	503.7182	500.3559	500.3559	500.3559	490.1297	490.1297	468.6591	468.5279	468.5279	468.7897	457.5711	457.5711	457.5711	438.5177	438.5177	438.5177	6,019.6079	5,543.0302
Billable hours worked by own staff	ROLE: PERFORMANCE MARKETING	A: timesheets; F: min(demand, capacity x maximum utilisation)	504.6	494.9	501.3	498.1	505.4	496.4	389.6	483.2	503.7182	500.3559	500.3559	429.44	490.1297	490.1297	468.6591	464	464	426.88	346.4533	420.6933	457.5711	438.5177	438.5177	377.3867	5,807.37	5,282.9383
Billable hours bought from freelancers	ROLE: PERFORMANCE MARKETING	A: freelancer timesheets; F: demand - own	0.017	0	0.007	0.035	0.029	2.439	117.601	21.194	0	0	0	70.9159	0	0	0	4.5279	4.5279	41.9097	111.1177	36.8777	0	0	0	61.131	212.2379	260.0919
Utilisation (own billable / productive hours)	ROLE: PERFORMANCE MARKETING		82.99%	84.74%	79.32%	83.02%	84.23%	89.93%	86.96%	88.82%	79.7%	76.27%	82.3%	88%	80.61%	83.93%	84.38%	88%	88%	88%	88%	88%	82.39%	76.07%	82.07%	88%	83.54%	84.48%
Standard value of hours (EUR, rate card)	ROLE: PERFORMANCE MARKETING	(own + freelancer hours) x rate card	50,461.7	49,490	50,130.7	49,813.5	50,542.9	49,883.9	50,720.1	50,439.4	50,371.8167	50,035.5917	50,035.5917	50,035.5917	49,012.9729	49,012.9729	46,865.9104	46,852.7854	46,852.7854	46,878.9688	45,757.1062	45,757.1062	45,757.1062	43,851.7688	43,851.7688	43,851.7688	601,960.7917	554,303.0208
Headcount	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: payroll; F: prior month + weighted hires - share of any capacity cut	3	3	3	3	3	3	3	3	3	3	3	3	3	3	2.6364	2.6364	2.6364	2.6364	2.6364	2.6364	2.6364	2.6364	2.6364	2.6364	3	2.6364
Productive hours available	ROLE: PROJECT AND DELIVERY MANAGEMENT	headcount x productive hours per FTE	456	438	474	450	450	414	336	408	474	492	456	366	456	438	416.5455	395.4545	395.4545	363.8182	295.2727	358.5455	416.5455	432.3636	400.7273	321.6364	5,214	4,690.3636
Billable hours demanded	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: own + freelancer timesheets; F: hours by work type x role mix	293.66	267.86	286.755	312.15	346.185	399.44	403.42	419.97	410.4589	317.4164	273.6805	283.0892	253.2954	229.3669	227.339	254.1665	274.6712	288.6759	273.675	263.6951	278.6329	265.8357	238.3238	244.7418	4,014.0851	3,092.4192
Billable hours worked by own staff	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: timesheets; F: min(demand, capacity x maximum utilisation)	293.6	267.8	286.7	312.1	346.1	366.5	296.9	352.6	410.4589	317.4164	273.6805	283.0892	253.2954	229.3669	227.339	254.1665	274.6712	288.6759	259.84	263.6951	278.6329	265.8357	238.3238	244.7418	3,806.9451	3,078.5842
Billable hours bought from freelancers	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: freelancer timesheets; F: demand - own	0.06	0.06	0.055	0.05	0.085	32.94	106.52	67.37	0	0	0	0	0	0	0	0	0	0	13.835	0	0	0	0	0	207.14	13.835
Utilisation (own billable / productive hours)	ROLE: PROJECT AND DELIVERY MANAGEMENT		64.39%	61.14%	60.49%	69.36%	76.91%	88.53%	88.36%	86.42%	86.59%	64.52%	60.02%	77.35%	55.55%	52.37%	54.58%	64.27%	69.46%	79.35%	88%	73.55%	66.89%	61.48%	59.47%	76.09%	73.01%	65.64%
Standard value of hours (EUR, rate card)	ROLE: PROJECT AND DELIVERY MANAGEMENT	(own + freelancer hours) x rate card	27,897.7	25,446.7	27,241.725	29,654.25	32,887.575	37,946.8	38,324.9	39,897.15	38,993.5945	30,154.5601	25,999.6495	26,893.4773	24,063.0603	21,789.8538	21,597.2031	24,145.816	26,093.7628	27,424.2144	25,999.127	25,051.0319	26,470.1254	25,254.3956	22,640.7635	23,250.4699	381,338.0813	293,779.8238
Rate card factor (FY2027 = 1 + rate card change)	DELIVERY TOTALS		1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
DELIVERY HEADCOUNT	DELIVERY TOTALS		33	33	33	34	32	32	33	33	33	33	33	33	33	33	29	29	29	29	29	29	29	29	29	29	33	29
Productive hours available	DELIVERY TOTALS		5,016	4,818	5,214	5,100	4,800	4,416	3,696	4,488	5,214	5,412	5,016	4,026	5,016	4,818	4,582	4,350	4,350	4,002	3,248	3,944	4,582	4,756	4,408	3,538	57,216	51,594
Billable hours demanded	DELIVERY TOTALS		3,133.3	2,928.7	3,104.4	3,337.6	3,567.8	3,958.1	3,969.1	4,109.4	4,044.7568	3,394.1623	3,090.4101	3,122.6861	2,760.2958	2,594.6828	2,567.318	2,715.4158	2,852.1138	2,937.6632	2,783.8106	2,741.6367	2,863.5513	2,761.2317	2,565.6394	2,577.977	41,760.4154	32,721.336
Billable hours worked by own staff	DELIVERY TOTALS		3,133	2,928.4	3,104.1	3,337.3	3,567.5	3,643.3	3,166.1	3,695.8	3,974.7136	3,394.1623	3,090.4101	3,051.7702	2,760.2958	2,594.6828	2,567.318	2,710.8879	2,847.586	2,895.7535	2,598.614	2,704.7589	2,863.5513	2,761.2317	2,565.6394	2,516.846	40,086.5563	32,387.1653
Billable hours bought from freelancers	DELIVERY TOTALS		0.3	0.3	0.3	0.3	0.3	314.8	803	413.6	70.0432	0	0	70.9159	0	0	0	4.5279	4.5279	41.9097	185.1966	36.8777	0	0	0	61.131	1,673.8591	334.1708
UTILISATION (own billable / productive hours)	DELIVERY TOTALS		62.46%	60.78%	59.53%	65.44%	74.32%	82.5%	85.66%	82.35%	76.23%	62.72%	61.61%	75.8%	55.03%	53.85%	56.03%	62.32%	65.46%	72.36%	80.01%	68.58%	62.5%	58.06%	58.2%	71.14%	70.06%	62.77%
Standard value of all hours (EUR, rate card)	DELIVERY TOTALS		334,161.655	312,028.455	331,188.96	357,021.64	381,933.655	423,447.145	424,449.65	439,767.64	432,815.1448	363,313.6964	330,288.4152	333,659.5187	294,227.4826	276,223.6983	273,530.6931	289,491.1659	304,329.7357	313,484.5915	296,705.3114	292,233.2904	305,564.254	294,683.1448	273,398.6198	274,605.4168	4,464,075.575	3,488,477.4042
Fee revenue (EUR): retainers, projects, time and materials, media fees	DELIVERY TOTALS	FX	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	356,904.5251	376,271.3088	343,486.1544	304,374.0148	282,714.8948	280,637.8912	237,662.6912	221,886.7893	220,393.5878	234,636.1486	248,010.1088	256,248.6545	240,314.8575	236,740.1815	248,735.2079	239,641.1897	225,841.1589	225,111.5771	3,757,927.1051	2,835,222.1528
REALISATION (fee revenue / standard value)	DELIVERY TOTALS		85.23%	84.44%	84.84%	85.58%	84.41%	84.16%	84.09%	85.56%	79.36%	83.78%	85.6%	84.11%	80.78%	80.33%	80.57%	81.05%	81.49%	81.74%	80.99%	81.01%	81.4%	81.32%	82.61%	81.98%	84.18%	81.27%
Effective fee per hour worked (EUR)	DELIVERY TOTALS		90.8917	89.9634	90.5066	91.5448	90.3662	90.0317	89.9208	91.5636	84.9213	89.6757	91.4814	89.8707	86.1004	85.516	85.8458	86.4089	86.9566	87.2287	86.3259	86.3499	86.8625	86.7878	88.0253	87.321	89.9878	86.6475
Value written off vs the rate card (EUR)	DELIVERY TOTALS	standard value - fee revenue	49,370.7174	48,552.6115	50,220.252	51,481.7411	59,525.1545	67,092.7176	67,545.1249	63,496.3312	89,328.9904	58,939.6816	47,573.5203	53,021.6275	56,564.7914	54,336.909	53,137.1052	54,855.0173	56,319.6269	57,235.937	56,390.4539	55,493.1088	56,829.0461	55,041.9551	47,557.4609	49,493.8397	706,148.4699	653,255.2514
FREELANCER COST (EUR ex VAT)	DELIVERY TOTALS	A: purchase ledger; F: freelancer hours x rate + specialists, inflated	5,062.83	5,921.18	5,125.2	6,532.51	5,209.98	25,536.25	59,683.52	32,476.4	10,753.2372	5,500	5,500	10,109.5346	5,747.5	5,747.5	5,747.5	6,055.0545	6,055.0545	8,594.2155	18,884.2403	8,252.4198	5,747.5	5,747.5	5,747.5	9,899.8246	177,410.6418	92,225.8092
Own hours charged at standard cost rate (EUR)	DELIVERY TOTALS	own hours x standard cost rate x pay inflation	158,758.7964	148,004.9101	157,462.9842	170,122.7738	182,222.3586	184,907.1041	159,868.2432	187,288.3438	202,298.2621	173,338.7932	157,186.9977	155,467.1442	146,193.6649	136,994.7315	135,818.1168	143,707.0111	151,266.0939	154,047.1336	137,708.0187	143,516.1426	152,164.1097	146,773.0695	135,875.4339	133,441.659	2,036,926.7111	1,717,505.185
Recovery variance: own hours at standard cost less delivery payroll (+ over / - under)	DELIVERY TOTALS	People	-19,361.1156	-29,356.3559	-22,886.0358	-16,304.7802	4,530.6066	7,619.4281	-23,140.7208	3,285.2458	20,731.6621	-8,227.8068	-24,379.6023	-26,099.4558	-43,543.4321	-52,742.3655	-53,918.9802	-23,031.6499	-15,472.5671	-12,691.5274	-29,030.6423	-23,222.5184	-14,574.5513	-19,965.5915	-30,863.2271	-33,297.002	-133,588.9309	-352,354.055
Standard cost rate: brand and content retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	46.5236	48.6172
Standard cost rate: performance retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	46.6714	48.7716
Standard cost rate: product design and development retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	54.0743	56.5076
Standard cost rate: fixed-fee projects	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	52.9164	55.2977
Standard cost rate: time and materials	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	55.0597	57.5374
Standard cost rate: media management	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	47.3612	49.4925
Rate card: brand and content retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55
Rate card: performance retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8
Rate card: product design and development retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5
Rate card: fixed-fee projects	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55
Rate card: time and materials	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110	110
Rate card: media management	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104	104

CLIENTS: REVENUE BY STREAM, HOURS, INVOICING, CASH, RECEIVABLES AND CONTRACT POSITIONS (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Retainer fees	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Retainers	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	0	0	0	0	0	0	0	0	0	0	0	0	504,000	0
Project fees	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Projects	23,398.5	14,877	8,673.5	0	0	0	8,234.38	21,717.5	23,704.8362	22,082.7682	9,260.5157	0	0	0	0	0	0	0	0	0	0	0	0	0	131,949	0
Time and materials	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		65,398.5	56,877	50,673.5	42,000	42,000	42,000	50,234.38	63,717.5	65,704.8362	64,082.7682	51,260.5157	42,000	0	0	0	0	0	0	0	0	0	0	0	0	635,949	0
Revenue (EUR at the monthly average rate)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		75,222.5673	65,282.066	58,091.1603	48,426.7085	48,457.4382	48,582.996	58,497.0946	74,426.7676	73,764.3927	71,943.3569	57,548.2876	47,151.8487	0	0	0	0	0	0	0	0	0	0	0	0	727,394.6843	0
Production cost (EUR)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	revenue - production cost	75,222.5673	65,282.066	58,091.1603	48,426.7085	48,457.4382	48,582.996	58,497.0946	74,426.7676	73,764.3927	71,943.3569	57,548.2876	47,151.8487	0	0	0	0	0	0	0	0	0	0	0	0	727,394.6843	0
Hours worked (retainers, projects, time and materials, media)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	engine sheets	761.1	653	599.8	486.3	483.1	490.1	566.9	699.1	767.5749	723.4405	591.0371	495.4125	0	0	0	0	0	0	0	0	0	0	0	0	7,316.865	0
Delivery cost at standard (EUR)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	hours x standard cost rate of the work type	40,870.7642	35,129.1928	32,328.0484	26,296.3283	26,123.2906	26,501.8107	30,564.9825	37,566.6722	41,190.9453	38,855.5077	31,849.195	26,789.0803	0	0	0	0	0	0	0	0	0	0	0	0	394,065.818	0
Media spend rebilled at cost (not revenue)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	fees + media + recharges	80,000	42,000	70,500	42,000	42,000	42,000	67,500	42,000	76,000	42,000	67,500	42,000	0	0	0	0	0	0	0	0	0	0	0	0	655,500	0
VAT on invoices	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		80,000	42,000	70,500	42,000	42,000	42,000	67,500	42,000	76,000	42,000	67,500	42,000	0	0	0	0	0	0	0	0	0	0	0	0	655,500	0
Cash received	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	A: bank; F: opening + invoiced - closing at days to collect	41,018.64	84,117.35	42,294.42	66,531.52	43,620.08	49,695.84	41,559.96	61,230.8	23,710.42	53,333.3333	64,666.6667	50,500	59,000	28,000	0	0	0	0	0	0	0	0	0	0	622,279.03	87,000
RECEIVABLE (incl. VAT)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	opening + invoiced - received	92,760.39	50,643.04	78,848.62	54,317.1	52,697.02	45,001.18	70,941.22	51,710.42	104,000	92,666.6667	95,500	87,000	28,000	0	0	0	0	0	0	0	0	0	0	0	87,000	0
Contract position (+ unbilled work / - deferred income)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	opening + revenue - invoiced revenue	4,949.5	19,826.5	0	0	0	0	-17,265.62	4,451.88	-5,843.2838	16,239.4843	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		107,088.8825	57,791.8978	90,804.9014	62,703.7229	60,764.7568	52,218.8726	82,901.4058	60,375.5137	116,756.9587	104,033.444	107,214.3227	97,671.6866	31,434.5658	0	0	0	0	0	0	0	0	0	0	0	97,671.6866	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		35.2489	25.2385	37.3558	32.0629	31.1066	32.5723	42.7052	31.1286	51.131	52.82	46.952	52.3723	23.3205	0	0	0	0	0	0	0	0	0	0	0	52.3723	0
Retainer fees	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Retainers	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	12,000	12,000	12,000	12,000	12,000	12,000	12,000	12,000	12,000	180,000	153,000
Project fees	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	TM_Media	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	4,950	5,445	6,682.5	5,940	4,207.5	4,207.5	4,702.5	3,960	3,960	3,762	3,366	3,564	3,960	4,356	5,346	4,752	65,857.24	50,143.5
Production recharged (principal)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		20,174.76	19,773.96	20,334.27	21,207.19	20,624.28	19,924.87	19,798.89	21,001.52	19,950	20,445	21,682.5	20,940	19,207.5	19,207.5	19,702.5	15,960	15,960	15,762	15,366	15,564	15,960	16,356	17,346	16,752	245,857.24	203,143.5
Revenue (EUR at the monthly average rate)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		23,205.383	22,696.0803	23,310.8299	24,452.2478	23,795.2327	23,047.8543	23,055.476	24,531.3336	22,397.1281	22,952.8464	24,342.1419	23,508.5646	21,563.5508	21,563.5508	22,119.269	17,917.7025	17,917.7025	17,695.4152	17,250.8407	17,473.1279	17,917.7025	18,362.2771	19,473.7135	18,806.8517	281,295.1185	228,061.7043
Production cost (EUR)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	revenue - production cost	23,205.383	22,696.0803	23,310.8299	24,452.2478	23,795.2327	23,047.8543	23,055.476	24,531.3336	22,397.1281	22,952.8464	24,342.1419	23,508.5646	21,563.5508	21,563.5508	22,119.269	17,917.7025	17,917.7025	17,695.4152	17,250.8407	17,473.1279	17,917.7025	18,362.2771	19,473.7135	18,806.8517	281,295.1185	228,061.7043
Hours worked (retainers, projects, time and materials, media)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	engine sheets	257.3	259.6	251.4	257	251.6	260.9	259.6	265.1	257.8125	257.8125	257.8125	257.8125	257.8125	257.8125	257.8125	218.25	218.25	218.25	218.25	218.25	218.25	218.25	218.25	218.25	3,093.75	2,737.6875
Delivery cost at standard (EUR)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	hours x standard cost rate of the work type	12,020.778	12,127.7823	11,746.2888	12,006.8209	11,755.5935	12,188.263	12,127.7823	12,383.6621	12,044.6213	12,044.6213	12,044.6213	12,044.6213	12,586.6293	12,586.6293	12,586.6293	10,663.2128	10,663.2128	10,663.2128	10,663.2128	10,663.2128	10,663.2128	10,663.2128	10,663.2128	10,663.2128	144,535.4561	133,728.8035
Media spend rebilled at cost (not revenue)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	TM_Media	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	49,500	54,450	66,825	59,400	42,075	42,075	47,025	39,600	39,600	37,620	33,660	35,640	39,600	43,560	53,460	47,520	658,572.39	501,435
Invoiced ex VAT	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	fees + media + recharges	101,922.38	52,513.52	58,676.98	113,279.11	61,867.04	54,173.56	97,787.79	66,016.75	54,450	104,895	73,507.5	65,340	91,282.5	46,282.5	51,727.5	79,560	43,560	41,382	73,026	39,204	43,560	83,916	58,806	52,272	904,429.63	704,578.5
VAT on invoices	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		101,922.38	52,513.52	58,676.98	113,279.11	61,867.04	54,173.56	97,787.79	66,016.75	54,450	104,895	73,507.5	65,340	91,282.5	46,282.5	51,727.5	79,560	43,560	41,382	73,026	39,204	43,560	83,916	58,806	52,272	904,429.63	704,578.5
Cash received	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	A: bank; F: opening + invoiced - closing at days to collect	68,870.03	100,682.27	53,418.87	52,918.66	120,402.2	65,730.95	54,774.75	98,750.33	26,134.475	60,233.375	79,672.5	89,201.25	69,423.75	78,311.25	68,782.5	49,005	65,643.75	61,560	42,471	57,204	56,115	41,382	63,738	71,361	870,789.66	724,997.25
RECEIVABLE (incl. VAT)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	opening + invoiced - received	101,506.13	53,337.38	58,595.49	118,955.94	60,420.78	48,863.39	91,876.43	59,142.85	87,458.375	132,120	125,955	102,093.75	123,952.5	91,923.75	74,868.75	105,423.75	83,340	63,162	93,717	75,717	63,162	105,696	100,764	81,675	102,093.75	81,675
Contract position (+ unbilled work / - deferred income)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	opening + revenue - invoiced revenue	-30,000	-15,000	0	-30,000	-15,000	0	-30,000	-15,000	0	-30,000	-15,000	0	-30,000	-15,000	0	-24,000	-12,000	0	-24,000	-12,000	0	-24,000	-12,000	0	0	0
Receivable (EUR at the month-end rate)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		117,185.5576	60,866.5754	67,480.6698	137,322.8745	69,670.9985	56,700.5384	107,366.1435	69,053.393	98,186.2873	148,326.2441	141,405.0263	114,616.8822	139,156.8935	103,199.3989	84,052.3803	118,355.3503	93,562.7398	70,909.6445	105,212.6144	85,004.6793	70,909.6445	118,660.9953	113,124.021	91,693.5058	114,616.8822	91,693.5058
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		30.2758	20.9984	25.0755	48.3307	23.5664	19.4329	39.1862	24.7448	36.5454	53.4667	49.3321	38.1999	49.1221	41.3171	36.0713	54.1457	43.4699	35.017	54.1058	44.9535	36.9753	57.8322	49.3321	38.1999	38.1999	38.1999
Retainer fees	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Retainers	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	8,625	8,625	8,625	8,625	8,625	8,625	8,625	80,500	117,875
Project fees	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	8,625	8,625	8,625	8,625	8,625	8,625	8,625	80,500	117,875
Revenue (EUR at the monthly average rate)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	13,302.487	13,391.5575	13,432.8533	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	9,682.9689	9,682.9689	9,682.9689	9,682.9689	9,682.9689	9,682.9689	9,682.9689	91,769.3987	132,333.9087
Production cost (EUR)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	revenue - production cost	0	0	0	0	0	13,302.487	13,391.5575	13,432.8533	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	12,910.6252	9,682.9689	9,682.9689	9,682.9689	9,682.9689	9,682.9689	9,682.9689	9,682.9689	91,769.3987	132,333.9087
Hours worked (retainers, projects, time and materials, media)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	engine sheets	0	0	0	0	0	153.2	146.2	148.3	149.2333	149.2333	149.2333	149.2333	149.2333	149.2333	149.2333	149.2333	149.2333	111.925	111.925	111.925	111.925	111.925	111.925	111.925	1,044.6333	1,529.6417
Delivery cost at standard (EUR)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	hours x standard cost rate of the work type	0	0	0	0	0	7,127.4154	6,801.7503	6,899.4498	6,942.8718	6,942.8718	6,942.8718	6,942.8718	7,255.3011	7,255.3011	7,255.3011	7,255.3011	7,255.3011	5,441.4758	5,441.4758	5,441.4758	5,441.4758	5,441.4758	5,441.4758	5,441.4758	48,600.1029	74,366.836
Media spend rebilled at cost (not revenue)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	fees + media + recharges	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	8,625	8,625	8,625	8,625	8,625	8,625	8,625	80,500	117,875
VAT on invoices	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	8,625	8,625	8,625	8,625	8,625	8,625	8,625	80,500	117,875
Cash received	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	-276.45	12,029.94	10,077.43	6,919.08	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,062.5	8,625	8,625	8,625	8,625	8,625	63,250	122,187.5
RECEIVABLE (incl. VAT)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	opening + invoiced - received	0	0	0	0	0	11,776.45	11,246.51	12,669.08	17,250	17,250	17,250	17,250	17,250	17,250	17,250	17,250	17,250	14,375	12,937.5	12,937.5	12,937.5	12,937.5	12,937.5	12,937.5	17,250	12,937.5
Contract position (+ unbilled work / - deferred income)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	13,665.2626	13,142.5917	14,792.0325	19,365.9379	19,365.9379	19,365.9379	19,365.9379	19,365.9379	19,365.9379	19,365.9379	19,365.9379	19,365.9379	16,138.2816	14,524.4534	14,524.4534	14,524.4534	14,524.4534	14,524.4534	14,524.4534	19,365.9379	14,524.4534
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	93.3924	44.5949	33.4904	45.6	45.6	45.6	45.6	45.6	45.6	45.6	45.6	45.6	41.4545	41.04	45.6	45.6	45.6	45.6	45.6	45.6	45.6
Retainer fees	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	16,629.6649	17,261.1712	15,998.1587	12,840.6274	15,998.1587	15,366.6524	16,629.6649	15,787.6566	15,787.6566	14,524.6441	11,788.1169	14,314.142	16,629.6649	17,261.1712	15,998.1587	12,840.6274	202,203.7422	182,926.3144
Media management fees	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	16,629.6649	17,261.1712	15,998.1587	12,840.6274	15,998.1587	15,366.6524	16,629.6649	15,787.6566	15,787.6566	14,524.6441	11,788.1169	14,314.142	16,629.6649	17,261.1712	15,998.1587	12,840.6274	202,203.7422	182,926.3144
Revenue (EUR at the monthly average rate)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		23,639.441	20,794.9842	21,308.262	17,149.4425	18,843.9324	20,506.6975	15,909.147	22,918.3166	18,669.5106	19,378.4794	17,960.5419	14,415.6981	17,960.5419	17,251.5731	18,669.5106	17,724.2189	17,724.2189	16,306.2814	13,234.0835	16,069.9585	18,669.5106	19,378.4794	17,960.5419	14,415.6981	231,494.4531	205,364.6167
Production cost (EUR)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	revenue - production cost	23,639.441	20,794.9842	21,308.262	17,149.4425	18,843.9324	20,506.6975	15,909.147	22,918.3166	18,669.5106	19,378.4794	17,960.5419	14,415.6981	17,960.5419	17,251.5731	18,669.5106	17,724.2189	17,724.2189	16,306.2814	13,234.0835	16,069.9585	18,669.5106	19,378.4794	17,960.5419	14,415.6981	231,494.4531	205,364.6167
Hours worked (retainers, projects, time and materials, media)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	engine sheets	257.5	224.5	222.5	190.7	206.7	215.2	169	246.3	216	224.2025	207.7975	166.7848	207.7975	199.5949	216	205.0633	205.0633	188.6582	153.1139	185.9241	216	224.2025	207.7975	166.7848	2,547.1848	2,376
Delivery cost at standard (EUR)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	hours x standard cost rate of the work type	14,177.873	12,360.9028	12,250.7834	10,499.8849	11,380.8402	11,848.8476	9,305.0894	13,561.2043	11,892.8954	12,344.5243	11,441.2664	9,183.1217	11,956.1234	11,484.1712	12,428.0757	11,798.806	11,798.806	10,854.9015	8,809.7752	10,697.5841	12,428.0757	12,900.0279	11,956.1234	9,596.3622	140,247.2335	136,708.8323
Media spend rebilled at cost (not revenue)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	fees + media + recharges	14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	16,629.6649	17,261.1712	15,998.1587	12,840.6274	15,998.1587	15,366.6524	16,629.6649	15,787.6566	15,787.6566	14,524.6441	11,788.1169	14,314.142	16,629.6649	17,261.1712	15,998.1587	203,558.5048	182,926.3144
VAT on invoices	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	16,629.6649	17,261.1712	15,998.1587	12,840.6274	15,998.1587	15,366.6524	16,629.6649	15,787.6566	15,787.6566	14,524.6441	11,788.1169	14,314.142	16,629.6649	17,261.1712	15,998.1587	203,558.5048	182,926.3144
Cash received	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	A: bank; F: opening + invoiced - closing at days to collect	17,042.51	16,709.45	18,134.38	19,624.88	16,268.18	17,166.74	18,356.48	13,913.57	10,582.9	13,661.98	19,620.6	16,629.6649	17,261.1712	15,998.1587	12,840.6274	15,998.1587	15,366.6524	16,629.6649	15,787.6566	15,787.6566	14,524.6441	11,788.1169	14,314.142	16,629.6649	197,711.3349	182,926.3144
RECEIVABLE (incl. VAT)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	opening + invoiced - received	24,565.04	28,407.72	28,390.97	27,353.5	25,958.86	25,124.91	24,496.47	24,244.88	33,282.58	36,250.2649	33,890.8362	33,259.3299	28,838.786	28,838.786	31,364.8111	31,996.3174	32,417.3215	31,575.3132	30,312.3007	26,312.761	26,102.2589	30,943.8069	33,890.8362	33,259.3299	33,259.3299	33,259.3299
Contract position (+ unbilled work / - deferred income)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	opening + revenue - invoiced revenue	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	16,629.6649	17,261.1712	15,998.1587	12,840.6274	15,998.1587	15,366.6524	16,629.6649	15,787.6566	15,787.6566	14,524.6441	11,788.1169	14,314.142	16,629.6649	17,261.1712	15,998.1587	12,840.6274	12,840.6274	12,840.6274
Receivable (EUR at the month-end rate)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		28,359.5474	32,417.8021	32,696.0603	31,576.912	29,933.0743	29,154.6682	28,626.4009	28,307.5845	37,365.1233	40,696.8335	38,047.99	37,339.0212	32,376.2399	32,376.2399	35,212.1149	35,921.0837	36,393.7295	35,448.4379	34,030.5004	29,540.3649	29,304.042	34,739.4691	38,047.99	37,339.0212	37,339.0212	37,339.0212
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		52.607	49.7068	48.9785	43.569	45.8998	46.0177	45.6546	46.3328	59.5047	66.2367	57.7604	60.8	57.0521	58.6592	64.7086	60.8	61.8714	59.738	59.9671	57	58.5948	66.0414	64.1188	60.8	60.8	60.8
Retainer fees	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Projects	0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	8,738.67	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,000	0
Time and materials	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	4,729.6543	4,383.582	3,518.4014	4,383.582	4,210.5459	4,556.6182	4,325.9033	4,325.9033	3,979.8311	3,230.0078	3,922.1524	4,556.6182	4,729.6543	4,383.582	3,518.4014	12,631.6377	50,122.8
Media management fees	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	8,738.67	4,729.6543	4,383.582	3,518.4014	4,383.582	4,210.5459	4,556.6182	4,325.9033	4,325.9033	3,979.8311	3,230.0078	3,922.1524	4,556.6182	4,729.6543	4,383.582	3,518.4014	157,631.6377	50,122.8
Revenue (EUR at the monthly average rate)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	8,976.1667	24,570.7895	33,793.2944	37,811.4517	34,073.9447	18,551.7398	9,810.582	5,309.8082	4,921.2857	3,949.9793	4,921.2857	4,727.0244	5,115.5469	4,856.5319	4,856.5319	4,468.0093	3,626.2105	4,403.2556	5,115.5469	5,309.8082	4,921.2857	3,949.9793	181,769.042	56,271.0163
Production cost (EUR)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	revenue - production cost	0	0	8,976.1667	24,570.7895	33,793.2944	37,811.4517	34,073.9447	18,551.7398	9,810.582	5,309.8082	4,921.2857	3,949.9793	4,921.2857	4,727.0244	5,115.5469	4,856.5319	4,856.5319	4,468.0093	3,626.2105	4,403.2556	5,115.5469	5,309.8082	4,921.2857	3,949.9793	181,769.042	56,271.0163
Hours worked (retainers, projects, time and materials, media)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	engine sheets	0	0	78.3	213.1	292.9	358.3	302.7	164.3	103.96	61.1461	56.672	45.4868	56.672	54.435	58.9091	55.9264	55.9264	51.4522	41.7583	50.7066	58.9091	61.1461	56.672	45.4868	1,676.8649	648
Delivery cost at standard (EUR)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	hours x standard cost rate of the work type	0	0	4,143.357	11,276.4928	15,499.2245	18,959.9595	16,017.8056	8,694.1706	5,501.1928	3,366.6884	3,120.3454	2,504.4877	3,260.7609	3,132.0467	3,389.4752	3,217.8562	3,217.8562	2,960.4277	2,402.666	2,917.5229	3,389.4752	3,518.1894	3,260.7609	2,617.1897	89,083.7244	37,284.227
Media spend rebilled at cost (not revenue)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	fees + media + recharges	0	0	43,500	0	0	58,000	0	0	43,500	0	4,729.6543	4,383.582	3,518.4014	4,383.582	4,210.5459	4,556.6182	4,325.9033	4,325.9033	3,979.8311	3,230.0078	3,922.1524	4,556.6182	4,729.6543	4,383.582	154,113.2364	50,122.8
VAT on invoices	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	43,500	0	0	58,000	0	0	43,500	0	4,729.6543	4,383.582	3,518.4014	4,383.582	4,210.5459	4,556.6182	4,325.9033	4,325.9033	3,979.8311	3,230.0078	3,922.1524	4,556.6182	4,729.6543	4,383.582	154,113.2364	50,122.8
Cash received	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	0	0	6,145.72	37,354.28	0	-720.54	58,720.54	0	0	21,750	21,750	2,364.8272	4,556.6182	3,950.9917	3,950.9917	4,297.064	4,383.582	4,441.2608	4,325.9033	4,152.8672	3,604.9194	3,576.0801	4,239.3853	4,643.1362	147,364.8272	50,122.8
RECEIVABLE (incl. VAT)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	opening + invoiced - received	0	0	37,354.28	0	0	58,720.54	0	0	43,500	21,750	4,729.6543	6,748.4092	5,710.1924	6,142.7827	6,402.3369	6,661.8911	6,604.2124	6,488.855	6,142.7827	5,219.9234	5,537.1563	6,517.6944	7,007.9634	6,748.4092	6,748.4092	6,748.4092
Contract position (+ unbilled work / - deferred income)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	opening + revenue - invoiced revenue	0	0	-35,670	-14,360	14,930	-10,382	18,879	34,761.33	0	4,729.6543	4,383.582	3,518.4014	4,383.582	4,210.5459	4,556.6182	4,325.9033	4,325.9033	3,979.8311	3,230.0078	3,922.1524	4,556.6182	4,729.6543	4,383.582	3,518.4014	3,518.4014	3,518.4014
Receivable (EUR at the month-end rate)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	43,018.5298	0	0	68,138.6665	0	0	48,835.8433	24,417.9217	5,309.8082	7,576.1898	6,410.6221	6,896.2753	7,187.6672	7,479.0591	7,414.3054	7,284.7978	6,896.2753	5,860.2152	6,216.3608	7,317.1747	7,867.5817	7,576.1898	7,576.1898	7,576.1898
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	78.3152	0	0	92.333	0	0	91.2	45.6	8.9436	67.5342	41.2274	45.6	48.2057	46.2	46.0018	44.8035	44.3507	41.268	45.3637	50.7665	48.3878	45.0228	67.5342	45.0228
Retainer fees	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Retainers	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	14,400	14,400	14,400	14,400	14,400	14,400	216,000	194,400
Project fees	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Projects	24,537.6	17,880.37	13,892.31	5,436.92	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,747.2	0
Time and materials	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		42,537.6	35,880.37	31,892.31	23,436.92	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	14,400	14,400	14,400	14,400	14,400	14,400	277,747.2	194,400
Revenue (EUR at the monthly average rate)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		48,927.5362	41,182.6341	36,560.7525	27,023.1641	20,767.4735	20,821.284	20,960.6987	21,025.3355	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	16,166.3481	16,166.3481	16,166.3481	16,166.3481	16,166.3481	16,166.3481	318,100.6193	218,245.6998
Production cost (EUR)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	revenue - production cost	48,927.5362	41,182.6341	36,560.7525	27,023.1641	20,767.4735	20,821.284	20,960.6987	21,025.3355	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	20,207.9352	16,166.3481	16,166.3481	16,166.3481	16,166.3481	16,166.3481	16,166.3481	318,100.6193	218,245.6998
Hours worked (retainers, projects, time and materials, media)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	engine sheets	465.1	442.2	356.3	273.6	207.3	195.5	216.4	199.9	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	207.8875	166.31	166.31	166.31	166.31	166.31	166.31	3,187.85	2,245.185
Delivery cost at standard (EUR)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	hours x standard cost rate of the work type	24,854.0056	23,647.4295	19,092.4132	14,726.5287	11,209.6008	10,571.5241	11,701.6769	10,809.451	11,241.3694	11,241.3694	11,241.3694	11,241.3694	11,747.2311	11,747.2311	11,747.2311	11,747.2311	11,747.2311	11,747.2311	9,397.7849	9,397.7849	9,397.7849	9,397.7849	9,397.7849	9,397.7849	171,578.1076	126,870.0955
Media spend rebilled at cost (not revenue)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	fees + media + recharges	66,000	18,000	18,000	54,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	14,400	14,400	14,400	14,400	14,400	14,400	300,000	194,400
VAT on invoices	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		66,000	18,000	18,000	54,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	14,400	14,400	14,400	14,400	14,400	14,400	300,000	194,400
Cash received	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	A: bank; F: opening + invoiced - closing at days to collect	23,008.3	62,068.25	18,299.53	20,094.93	49,958.26	18,207.37	20,703.32	17,431.82	8,702.08	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	16,200	14,400	14,400	14,400	14,400	292,473.86	199,800
RECEIVABLE (incl. VAT)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	opening + invoiced - received	62,465.56	18,397.31	18,097.78	52,002.85	20,044.59	19,837.22	17,133.9	17,702.08	27,000	27,000	27,000	27,000	27,000	27,000	27,000	27,000	27,000	27,000	23,400	21,600	21,600	21,600	21,600	21,600	27,000	21,600
Contract position (+ unbilled work / - deferred income)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	opening + revenue - invoiced revenue	-1,209.6	16,670.77	30,563.08	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		72,114.477	20,994.3056	20,842.0531	60,032.1501	23,113.3494	23,018.8911	20,022.5538	20,668.4102	30,311.9027	30,311.9027	30,311.9027	30,311.9027	30,311.9027	30,311.9027	30,311.9027	30,311.9027	30,311.9027	30,311.9027	26,270.3157	24,249.5222	24,249.5222	24,249.5222	24,249.5222	24,249.5222	30,311.9027	24,249.5222
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		28.772	13.3161	16.1815	52.6962	20.3119	20.1017	28.9373	29.8968	45.6	45.6	45.6	45.6	45.6	45.6	45.6	45.6	45.6	45.6	42.3429	42.0923	45.6	45.6	45.6	45.6	45.6	45.6
Retainer fees	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	4,220	10,360	12,960	12,691.4758	11,263.2316	4,505.2926	0	0	0	0	0	0	0	0	0	0	0	0	0	56,000	0
Time and materials	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	4,147.7625	5,513.3484	2,071.4635	1,593.4335	637.3734	0	0	0	0	0	0	0	0	0	0	0	0	0	13,963.3812	0
REVENUE (GBP)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	4,220	14,507.7625	18,473.3484	14,762.9393	12,856.665	5,142.666	0	0	0	0	0	0	0	0	0	0	0	0	0	69,963.3812	0
Revenue (EUR at the monthly average rate)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	4,881.4344	16,894.0466	21,578.2416	16,573.8067	14,433.703	5,773.4812	0	0	0	0	0	0	0	0	0	0	0	0	0	80,134.7133	0
Production cost (EUR)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	4,200	5,600	2,022.2222	1,555.5556	622.2222	0	0	0	0	0	0	0	0	0	0	0	0	0	14,000	0
NET REVENUE (EUR)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	revenue - production cost	0	0	0	0	0	4,881.4344	12,694.0466	15,978.2416	14,551.5844	12,878.1474	5,151.259	0	0	0	0	0	0	0	0	0	0	0	0	0	66,134.7133	0
Hours worked (retainers, projects, time and materials, media)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	engine sheets	0	0	0	0	0	42.2	103.6	129.6	157.5841	121.2185	48.4874	0	0	0	0	0	0	0	0	0	0	0	0	0	602.69	0
Delivery cost at standard (EUR)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	hours x standard cost rate of the work type	0	0	0	0	0	2,233.0737	5,482.1429	6,857.9703	8,338.7878	6,414.4521	2,565.7809	0	0	0	0	0	0	0	0	0	0	0	0	0	31,892.2076	0
Media spend rebilled at cost (not revenue)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	fees + media + recharges	0	0	0	0	0	16,800	4,147.7625	5,513.3484	24,471.4635	1,593.4335	17,437.3734	0	0	0	0	0	0	0	0	0	0	0	0	0	69,963.3812	0
VAT on invoices	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	16,800	4,147.7625	5,513.3484	24,471.4635	1,593.4335	17,437.3734	0	0	0	0	0	0	0	0	0	0	0	0	0	69,963.3812	0
Cash received	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	-1,898.27	18,401.35	4,729.32	2,472.0367	14,992.4059	13,032.4485	9,515.4034	8,718.6867	0	0	0	0	0	0	0	0	0	0	0	61,244.6945	8,718.6867
RECEIVABLE (incl. VAT)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	opening + invoiced - received	0	0	0	0	0	18,698.27	4,444.6825	5,228.7109	27,228.1377	13,829.1652	18,234.0901	8,718.6867	0	0	0	0	0	0	0	0	0	0	0	0	8,718.6867	0
Contract position (+ unbilled work / - deferred income)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	0	-12,580	-2,220	10,740	1,031.4758	12,294.7074	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	21,697.2661	5,194.0244	6,104.8838	30,568.0245	15,525.493	20,470.7395	9,788.1475	0	0	0	0	0	0	0	0	0	0	0	0	9,788.1475	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	101.5049	19.3508	18.0211	72.7518	39.9395	38.2267	41.782	0	0	0	0	0	0	0	0	0	0	0	0	41.782	0
Retainer fees	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Retainers	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	234,000	253,500
Project fees	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	18,750	41,250	41,250	18,750	0	0	0	0	0	0	0	0	0	0	60,000	60,000
Time and materials	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	6,331.416	13,929.1152	13,929.1152	6,331.416	0	0	0	0	0	0	0	0	0	0	20,260.5312	20,260.5312
REVENUE (USD)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	51,081.416	81,179.1152	81,179.1152	51,081.416	26,000	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	314,260.5312	333,760.5312
Revenue (EUR at the monthly average rate)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	22,413.7931	22,273.6229	22,571.4038	22,728.2661	22,529.3531	21,559.1583	21,559.1583	42,356.6283	67,313.5922	67,313.5922	42,356.6283	21,559.1583	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	265,304.9762	276,753.6976
Production cost (EUR)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	4,687.5	10,312.5	10,312.5	4,687.5	0	0	0	0	0	0	0	0	0	0	15,000	15,000
NET REVENUE (EUR)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	revenue - production cost	0	0	0	22,413.7931	22,273.6229	22,571.4038	22,728.2661	22,529.3531	21,559.1583	21,559.1583	37,669.1283	57,001.0922	57,001.0922	37,669.1283	21,559.1583	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	16,169.3687	250,304.9762	261,753.6976
Hours worked (retainers, projects, time and materials, media)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	engine sheets	0	0	0	251.1	255.8	244.2	240.5	235.1	245.34	245.34	416.0431	620.8869	620.8869	416.0431	245.34	184.005	184.005	184.005	184.005	184.005	184.005	184.005	184.005	184.005	2,754.31	2,938.315
Delivery cost at standard (EUR)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	hours x standard cost rate of the work type	0	0	0	13,578.0548	13,832.204	13,204.9422	13,004.8673	12,712.8661	13,266.5869	13,266.5869	22,299.5881	33,139.1895	34,630.4531	23,303.0695	13,863.5833	10,397.6875	10,397.6875	10,397.6875	10,397.6875	10,397.6875	10,397.6875	10,397.6875	10,397.6875	10,397.6875	148,304.8857	165,376.293
Media spend rebilled at cost (not revenue)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	fees + media + recharges	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	68,331.416	39,929.1152	87,929.1152	68,331.416	26,000	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	290,260.5312	357,760.5312
VAT on invoices	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	68,331.416	39,929.1152	87,929.1152	68,331.416	26,000	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	19,500	290,260.5312	357,760.5312
Cash received	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	-6,422.24	21,362.46	22,766.7	25,566.49	29,807.61	10,918.98	26,000	26,000	26,000	68,331.416	39,929.1152	87,929.1152	68,331.416	26,000	19,500	19,500	19,500	19,500	19,500	19,500	19,500	182,000	427,021.0624
RECEIVABLE (incl. VAT)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	opening + invoiced - received	0	0	0	32,422.24	37,059.78	40,293.08	40,726.59	36,918.98	52,000	52,000	94,331.416	108,260.5312	127,858.2304	156,260.5312	94,331.416	45,500	39,000	39,000	39,000	39,000	39,000	39,000	39,000	39,000	108,260.5312	39,000
Contract position (+ unbilled work / - deferred income)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	-17,250	24,000	17,250	0	0	0	0	0	0	0	0	0	0	0	24,000	0
Receivable (EUR at the month-end rate)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	27,706.5801	31,827.3617	35,363.4193	35,460.6791	31,837.6854	43,118.3167	43,118.3167	78,219.459	89,769.459	106,019.8397	129,570.982	78,219.459	37,728.5271	32,338.7375	32,338.7375	32,338.7375	32,338.7375	32,338.7375	32,338.7375	32,338.7375	32,338.7375	89,769.459	32,338.7375
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	113.7272	64.9972	47.1119	47.6188	43.1668	60.8	60.8	71.4944	73.5388	59.4357	72.6387	47.2018	36.4539	54.72	60.8	60.8	60.8	60.8	60.8	60.8	60.8	73.5388	60.8
Retainer fees	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Retainers	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	8,800	8,800	8,800	8,800	8,800	8,800	132,000	118,800
Project fees	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	TM_Media	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	7,290	8,019	9,841.5	8,748	6,196.5	6,196.5	6,925.5	7,290	7,290	6,925.5	4,957.2	5,248.8	5,832	6,415.2	7,873.2	6,998.4	93,993.69	78,148.8
Production recharged (principal)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (USD)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		17,089.74	17,229.02	18,471.54	18,892.7	19,439.94	18,753.34	19,095.02	19,123.89	18,290	19,019	20,841.5	19,748	17,196.5	17,196.5	17,925.5	18,290	18,290	17,925.5	13,757.2	14,048.8	14,632	15,215.2	16,673.2	15,798.4	225,993.69	196,948.8
Revenue (EUR at the monthly average rate)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		14,440.6101	14,524.549	15,853.3579	16,286.8103	16,653.7651	16,280.3542	16,692.1806	16,571.1104	15,166.0387	15,770.5243	17,281.7384	16,375.01	14,259.3102	14,259.3102	14,863.7959	15,166.0387	15,166.0387	14,863.7959	11,407.4482	11,649.2424	12,132.8309	12,616.4195	13,825.3907	13,100.008	191,896.049	163,309.6293
Production cost (EUR)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	revenue - production cost	14,440.6101	14,524.549	15,853.3579	16,286.8103	16,653.7651	16,280.3542	16,692.1806	16,571.1104	15,166.0387	15,770.5243	17,281.7384	16,375.01	14,259.3102	14,259.3102	14,863.7959	15,166.0387	15,166.0387	14,863.7959	11,407.4482	11,649.2424	12,132.8309	12,616.4195	13,825.3907	13,100.008	191,896.049	163,309.6293
Hours worked (retainers, projects, time and materials, media)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	engine sheets	165.2	168.3	172.8	177.6	180.5	164.7	174.2	172.6	171.9875	171.9875	171.9875	171.9875	171.9875	171.9875	171.9875	171.9875	171.9875	171.9875	151.59	151.59	151.59	151.59	151.59	151.59	2,063.85	1,941.465
Delivery cost at standard (EUR)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	hours x standard cost rate of the work type	7,758.4021	7,903.0835	8,113.1048	8,337.1276	8,472.4747	7,735.0664	8,178.4448	8,103.7705	8,075.1843	8,075.1843	8,075.1843	8,075.1843	8,438.5676	8,438.5676	8,438.5676	8,438.5676	8,438.5676	8,438.5676	7,443.7484	7,443.7484	7,443.7484	7,443.7484	7,443.7484	7,443.7484	96,902.2114	95,293.8957
Media spend rebilled at cost (not revenue)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	TM_Media	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	81,000	89,100	109,350	97,200	68,850	68,850	76,950	81,000	81,000	76,950	55,080	58,320	64,800	71,280	87,480	77,760	1,044,374.31	868,320
Invoiced ex VAT	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	fees + media + recharges	84,753.52	86,440.32	101,488.64	106,589.36	113,217.09	104,901.51	109,039.73	109,389.33	99,290	108,119	130,191.5	116,948	86,046.5	86,046.5	94,875.5	99,290	99,290	94,875.5	68,837.2	72,368.8	79,432	86,495.2	104,153.2	93,558.4	1,270,368	1,065,268.8
VAT on invoices	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		84,753.52	86,440.32	101,488.64	106,589.36	113,217.09	104,901.51	109,039.73	109,389.33	99,290	108,119	130,191.5	116,948	86,046.5	86,046.5	94,875.5	99,290	99,290	94,875.5	68,837.2	72,368.8	79,432	86,495.2	104,153.2	93,558.4	1,270,368	1,065,268.8
Cash received	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	A: bank; F: opening + invoiced - closing at days to collect	108,093.63	151,952.1	73,474.85	104,268.91	101,484.01	78,717.88	134,762.36	89,911.9	62,916.915	109,214.53	104,339.665	103,704.5	119,155.25	123,569.75	101,497.25	86,046.5	90,461	97,082.75	99,290	97,082.75	81,856.35	70,603	75,900.4	82,963.6	1,222,841.25	1,125,508.6
RECEIVABLE (incl. VAT)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	opening + invoiced - received	230,332.14	164,820.36	192,834.15	195,154.6	206,887.68	233,071.31	207,348.68	226,826.11	263,199.195	262,103.665	287,955.5	301,199	268,090.25	230,567	223,945.25	237,188.75	246,017.75	243,810.5	213,357.7	188,643.75	186,219.4	202,111.6	230,364.4	240,959.2	301,199	240,959.2
Contract position (+ unbilled work / - deferred income)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		193,247.8731	139,619.1105	167,711.0367	166,770.2957	177,677.4991	204,556.1787	180,538.6852	195,607.2008	218,244.3507	217,335.939	238,772.2391	249,753.7281	222,300.0056	191,185.7869	185,695.0424	196,676.5314	203,997.524	202,167.2759	176,915.8629	156,423.0952	154,412.828	167,590.6148	191,017.7913	199,802.9825	249,753.7281	199,802.9825
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		82.6172	58.5364	64.4943	60.4312	58.7253	65.4622	57.8014	63.9795	75.5503	75.4545	77.7888	77.3221	73.3819	72.7499	76.5027	77.1973	76.4573	75.7713	73.9849	72.8745	76.9732	77.3516	77.7888	77.3221	77.3221	77.3221
Retainer fees	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Projects	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	24,679.2817	10,846.6683	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Time and materials	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (USD)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	24,679.2817	10,846.6683	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Revenue (EUR at the monthly average rate)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	5,757.5198	17,952.8988	24,660.0431	31,771.5412	31,626.8947	26,681.4634	26,498.6872	20,464.0209	8,994.0399	0	0	0	0	0	0	0	0	0	0	0	0	0	0	194,407.1089	0
Production cost (EUR)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	revenue - production cost	0	5,757.5198	17,952.8988	24,660.0431	31,771.5412	31,626.8947	26,681.4634	26,498.6872	20,464.0209	8,994.0399	0	0	0	0	0	0	0	0	0	0	0	0	0	0	194,407.1089	0
Hours worked (retainers, projects, time and materials, media)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	engine sheets	0	74.8	229.1	313.3	455.4	504.2	476.8	433.7	387.5113	144.5937	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,019.405	0
Delivery cost at standard (EUR)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	hours x standard cost rate of the work type	0	3,958.1495	12,123.1558	16,578.7198	24,098.1455	26,680.4677	25,230.5573	22,949.8589	20,505.7148	7,651.3861	0	0	0	0	0	0	0	0	0	0	0	0	0	0	159,776.1553	0
Media spend rebilled at cost (not revenue)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	fees + media + recharges	0	63,000	0	0	16,500	67,500	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
VAT on invoices	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	63,000	0	0	16,500	67,500	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Disputed invoice held outside the collection curve (CR-03)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	raised May-26; settled in the scenario month	0	0	0	0	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	16,500	0	0	0	0	0	0	0	0	0	0	0	16,500	0
Disputed invoice: cash recovered on settlement	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	amount x recovery share	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Disputed invoice: written off on settlement	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	amount x (1 - recovery share)	0	0	0	0	0	0	0	0	0	0	0	0	0	16,500	0	0	0	0	0	0	0	0	0	0	0	16,500
Cash received	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	0	-6,791.25	42,203.85	27,587.4	0	-3,568.35	39,681.55	31,386.8	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	210,000	0
RECEIVABLE (incl. VAT)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	opening + invoiced - received - written off	0	69,791.25	27,587.4	0	16,500	87,568.35	47,886.8	16,500	28,050	96,000	84,450	16,500	16,500	0	0	0	0	0	0	0	0	0	0	0	16,500	0
Contract position (+ unbilled work / - deferred income)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	opening + revenue - invoiced revenue	0	-56,170.43	-35,252.61	-6,646.96	13,939.96	-17,129.02	13,393.24	43,974.05	57,103.3317	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	59,120.0762	23,993.2162	0	14,170.3882	76,854.792	41,695.0805	14,229.0445	23,259.015	79,603.0461	70,025.8047	13,681.7736	13,681.7736	0	0	0	0	0	0	0	0	0	0	0	13,681.7736	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	67.3541	39.936	0	91.2	95.0742	51.9914	22.2933	221.4857	110.1283	96.8785	22.1457	0	0	0	0	0	0	0	0	0	0	0	0	22.1457	0
Retainer fees	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Retainers	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	222,000	133,200
Project fees	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	5,468.75	12,031.25	12,031.25	5,468.75	0	0	0	0	0	0	0	0	0	5,468.75	29,531.25
Time and materials	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	23,968.75	23,131.25	23,131.25	16,568.75	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	227,468.75	162,731.25
Revenue (EUR at the monthly average rate)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	23,968.75	23,131.25	23,131.25	16,568.75	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	227,468.75	162,731.25
Production cost (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	revenue - production cost	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	23,968.75	23,131.25	23,131.25	16,568.75	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	227,468.75	162,731.25
Hours worked (retainers, projects, time and materials, media)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	engine sheets	245.6	240.6	251	231.6	238.5	233.5	245.4	234.3	240.0625	240.0625	240.0625	302.9531	282.3969	282.3969	206.9281	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	144.0375	2,943.6406	2,068.0594
Delivery cost at standard (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	hours x standard cost rate of the work type	11,426.196	11,193.578	11,677.4235	10,774.8657	11,095.8785	10,863.2605	11,416.8913	10,900.4794	11,168.5716	11,168.5716	11,168.5716	14,496.5194	14,653.6464	14,653.6464	10,480.3999	7,002.6944	7,002.6944	7,002.6944	7,002.6944	7,002.6944	7,002.6944	7,002.6944	7,002.6944	7,002.6944	137,350.8072	102,811.9423
Media spend rebilled at cost (not revenue)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	fees + media + recharges	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	29,000	11,100	25,100	21,600	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	232,500	157,700
VAT on invoices	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	29,000	11,100	25,100	21,600	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	11,100	232,500	157,700
Cash received	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	A: bank; F: opening + invoiced - closing at days to collect	20,421.71	15,239.5	21,514.74	16,125.73	17,698.39	22,496.94	15,114.98	18,315.87	9,921.34	18,500	18,500	18,500	23,750	20,050	18,100	23,350	16,350	11,100	11,100	11,100	11,100	11,100	11,100	11,100	212,349.2	179,300
RECEIVABLE (incl. VAT)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	opening + invoiced - received	16,177.49	19,437.99	16,423.25	18,797.52	19,599.13	15,602.19	18,987.21	19,171.34	27,750	27,750	27,750	38,250	25,600	30,650	34,150	21,900	16,650	16,650	16,650	16,650	16,650	16,650	16,650	16,650	38,250	16,650
Contract position (+ unbilled work / - deferred income)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	-5,031.25	7,000	5,031.25	0	0	0	0	0	0	0	0	0	0	-5,031.25	0
Receivable (EUR at the month-end rate)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		16,177.49	19,437.99	16,423.25	18,797.52	19,599.13	15,602.19	18,987.21	19,171.34	27,750	27,750	27,750	38,250	25,600	30,650	34,150	21,900	16,650	16,650	16,650	16,650	16,650	16,650	16,650	16,650	38,250	16,650
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		26.5836	31.9413	26.9874	30.8889	32.2061	25.6382	31.2006	31.5032	45.6	45.6	45.6	52.8545	39.8416	42.8724	53.8837	34.555	34.6685	45.6	45.6	45.6	45.6	45.6	45.6	45.6	52.8545	45.6
Retainer fees	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Retainers	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	12,800	12,800	12,800	192,000	182,400
Project fees	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	TM_Media	3,665.15	3,603.32	3,776.17	4,148.92	3,786.87	4,056.14	3,502.94	3,509.39	3,600	3,960	4,860	4,320	3,060	3,060	3,420	3,600	3,600	3,420	3,060	3,240	3,600	3,168	3,888	3,456	46,788.9	40,572
Production recharged (principal)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		19,665.15	19,603.32	19,776.17	20,148.92	19,786.87	20,056.14	19,502.94	19,509.39	19,600	19,960	20,860	20,320	19,060	19,060	19,420	19,600	19,600	19,420	19,060	19,240	19,600	15,968	16,688	16,256	238,788.9	222,972
Revenue (EUR at the monthly average rate)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		19,665.15	19,603.32	19,776.17	20,148.92	19,786.87	20,056.14	19,502.94	19,509.39	19,600	19,960	20,860	20,320	19,060	19,060	19,420	19,600	19,600	19,420	19,060	19,240	19,600	15,968	16,688	16,256	238,788.9	222,972
Production cost (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	revenue - production cost	19,665.15	19,603.32	19,776.17	20,148.92	19,786.87	20,056.14	19,502.94	19,509.39	19,600	19,960	20,860	20,320	19,060	19,060	19,420	19,600	19,600	19,420	19,060	19,240	19,600	15,968	16,688	16,256	238,788.9	222,972
Hours worked (retainers, projects, time and materials, media)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	engine sheets	223.1	217.8	211.2	208.9	222	223.5	225.7	213.5	218.2125	218.2125	218.2125	218.2125	218.2125	218.2125	218.2125	218.2125	218.2125	218.2125	218.2125	218.2125	218.2125	183.57	183.57	183.57	2,618.55	2,514.6225
Delivery cost at standard (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	hours x standard cost rate of the work type	10,443.4321	10,196.0736	9,888.0423	9,780.6981	10,392.0936	10,462.1007	10,564.7778	9,995.3866	10,215.3256	10,215.3256	10,215.3256	10,215.3256	10,675.0153	10,675.0153	10,675.0153	10,675.0153	10,675.0153	10,675.0153	10,675.0153	10,675.0153	10,675.0153	8,985.4443	8,985.4443	8,985.4443	122,583.9072	123,031.4701
Media spend rebilled at cost (not revenue)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	TM_Media	36,651.48	36,033.18	37,761.67	41,489.22	37,868.66	40,561.35	35,029.41	35,093.95	36,000	39,600	48,600	43,200	30,600	30,600	34,200	36,000	36,000	34,200	30,600	32,400	36,000	31,680	38,880	34,560	467,888.92	405,720
Invoiced ex VAT	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	fees + media + recharges	88,316.63	39,636.5	41,537.84	93,638.14	41,655.53	44,617.49	86,532.35	38,603.34	39,600	91,560	53,460	47,520	81,660	33,660	37,620	87,600	39,600	37,620	81,660	35,640	39,600	73,248	42,768	38,016	706,677.82	628,692
VAT on invoices	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		88,316.63	39,636.5	41,537.84	93,638.14	41,655.53	44,617.49	86,532.35	38,603.34	39,600	91,560	53,460	47,520	81,660	33,660	37,620	87,600	39,600	37,620	81,660	35,640	39,600	73,248	42,768	38,016	706,677.82	628,692
Cash received	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	A: bank; F: opening + invoiced - closing at days to collect	48,155.13	96,637.13	31,469.7	42,108.42	85,084.95	47,633.69	46,522.02	93,369.04	11,760.54	39,101.67	65,580	72,510	50,490	64,590	57,660	35,640	62,610	63,600	38,610	59,640	58,650	37,620	56,424	58,008	679,932.29	643,542
RECEIVABLE (incl. VAT)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	opening + invoiced - received	87,665.97	30,665.34	40,733.48	92,263.2	48,833.78	45,817.58	85,827.91	31,062.21	58,901.67	111,360	99,240	74,250	105,420	74,490	54,450	106,410	83,400	57,420	100,470	76,470	57,420	93,048	79,392	59,400	74,250	59,400
Contract position (+ unbilled work / - deferred income)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	opening + revenue - invoiced revenue	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-25,600	-12,800	0	0	0
Receivable (EUR at the month-end rate)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		87,665.97	30,665.34	40,733.48	92,263.2	48,833.78	45,817.58	85,827.91	31,062.21	58,901.67	111,360	99,240	74,250	105,420	74,490	54,450	106,410	83,400	57,420	100,470	76,470	57,420	93,048	79,392	59,400	74,250	59,400
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		30.176	14.5714	21.9179	48.1339	25.1858	23.2257	45.2967	16.6882	32.6088	59.8246	49.0233	35.1698	52.6407	41.7188	32.4692	61.0813	46.1478	31.7723	57.6716	45.0172	33.3761	57.1492	46.5283	35.1698	35.1698	35.1698
Retainer fees	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Retainers	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	10,500	168,000	133,000
Project fees	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	TM_Media	2,629.71	2,664.43	2,879.38	3,097.34	3,121.14	2,970.27	2,499.33	2,488.19	2,700	2,970	3,645	3,240	2,295	2,295	1,923.75	2,025	2,025	1,923.75	1,721.25	1,822.5	2,025	2,227.5	2,733.75	2,430	34,904.79	25,447.5
Production recharged (principal)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		16,629.71	16,664.43	16,879.38	17,097.34	17,121.14	16,970.27	16,499.33	16,488.19	16,700	16,970	17,645	17,240	16,295	16,295	12,423.75	12,525	12,525	12,423.75	12,221.25	12,322.5	12,525	12,727.5	13,233.75	12,930	202,904.79	158,447.5
Revenue (EUR at the monthly average rate)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		16,629.71	16,664.43	16,879.38	17,097.34	17,121.14	16,970.27	16,499.33	16,488.19	16,700	16,970	17,645	17,240	16,295	16,295	12,423.75	12,525	12,525	12,423.75	12,221.25	12,322.5	12,525	12,727.5	13,233.75	12,930	202,904.79	158,447.5
Production cost (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	revenue - production cost	16,629.71	16,664.43	16,879.38	17,097.34	17,121.14	16,970.27	16,499.33	16,488.19	16,700	16,970	17,645	17,240	16,295	16,295	12,423.75	12,525	12,525	12,423.75	12,221.25	12,322.5	12,525	12,727.5	13,233.75	12,930	202,904.79	158,447.5
Hours worked (retainers, projects, time and materials, media)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	engine sheets	201.4	195	203.4	191.2	193.9	187.7	197.4	199.2	196.15	196.15	196.15	196.15	196.15	196.15	157.1125	157.1125	157.1125	157.1125	157.1125	157.1125	157.1125	157.1125	157.1125	157.1125	2,353.8	1,963.425
Delivery cost at standard (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	hours x standard cost rate of the work type	9,427.2136	9,128.5165	9,520.5564	8,951.1652	9,077.178	8,787.8152	9,240.5279	9,324.5365	9,182.1887	9,182.1887	9,182.1887	9,182.1887	9,595.3872	9,595.3872	7,691.4649	7,691.4649	7,691.4649	7,691.4649	7,691.4649	7,691.4649	7,691.4649	7,691.4649	7,691.4649	7,691.4649	110,186.264	96,105.4231
Media spend rebilled at cost (not revenue)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	TM_Media	26,297.13	26,644.31	28,793.82	30,973.38	31,211.42	29,702.68	24,993.32	24,881.93	27,000	29,700	36,450	32,400	22,950	22,950	19,237.5	20,250	20,250	19,237.5	17,212.5	18,225	20,250	22,275	27,337.5	24,300	349,047.99	254,475
Invoiced ex VAT	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	fees + media + recharges	42,926.84	43,308.74	45,673.2	48,070.72	48,332.56	46,672.95	41,492.65	41,370.12	43,700	46,670	54,095	49,640	39,245	39,245	31,661.25	32,775	32,775	31,661.25	29,433.75	30,547.5	32,775	35,002.5	40,571.25	37,230	551,952.78	412,922.5
VAT on invoices	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		42,926.84	43,308.74	45,673.2	48,070.72	48,332.56	46,672.95	41,492.65	41,370.12	43,700	46,670	54,095	49,640	39,245	39,245	31,661.25	32,775	32,775	31,661.25	29,433.75	30,547.5	32,775	35,002.5	40,571.25	37,230	551,952.78	412,922.5
Cash received	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	51,045.39	48,141.74	38,125.32	40,889.24	50,424.69	52,689.94	43,750.92	48,310.61	16,322.32	42,535.06	45,185	50,382.5	51,867.5	44,442.5	39,245	35,453.125	32,218.125	32,775	32,218.125	30,547.5	29,990.625	31,661.25	33,888.75	37,786.875	527,802.73	432,094.375
RECEIVABLE (incl. VAT)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	opening + invoiced - received	44,418.9	39,585.9	47,133.78	54,315.26	52,223.13	46,206.14	43,947.87	37,007.38	64,385.06	68,520	77,430	76,687.5	64,065	58,867.5	51,283.75	48,605.625	49,162.5	48,048.75	45,264.375	45,264.375	48,048.75	51,390	58,072.5	57,515.625	76,687.5	57,515.625
Contract position (+ unbilled work / - deferred income)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		44,418.9	39,585.9	47,133.78	54,315.26	52,223.13	46,206.14	43,947.87	37,007.38	64,385.06	68,520	77,430	76,687.5	64,065	58,867.5	51,283.75	48,605.625	49,162.5	48,048.75	45,264.375	45,264.375	48,048.75	51,390	58,072.5	57,515.625	76,687.5	57,515.625
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		31.4566	27.9099	32.5877	36.1434	33.5224	29.4528	29.3634	26.0552	46.3953	47.4345	48.8812	46.5004	40.864	41.9005	42.4605	42.7544	46.1224	45.0776	43.9769	45.0458	47.2426	47.6661	48.8812	46.5004	46.5004	46.5004
Retainer fees	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Projects	0	0	0	0	7,070	18,120	19,810	24,973.33	17,809.227	8,217.443	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Time and materials	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	7,070	18,120	19,810	24,973.33	17,809.227	8,217.443	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Revenue (EUR at the monthly average rate)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	7,070	18,120	19,810	24,973.33	17,809.227	8,217.443	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Production cost (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	revenue - production cost	0	0	0	0	7,070	18,120	19,810	24,973.33	17,809.227	8,217.443	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Hours worked (retainers, projects, time and materials, media)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	engine sheets	0	0	0	0	70.7	181.2	198.1	271.6	220.4714	88.1886	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,030.26	0
Delivery cost at standard (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	hours x standard cost rate of the work type	0	0	0	0	3,741.1921	9,588.4584	10,482.7462	14,372.1044	11,666.5625	4,666.625	0	0	0	0	0	0	0	0	0	0	0	0	0	0	54,517.6887	0
Media spend rebilled at cost (not revenue)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	fees + media + recharges	0	0	0	0	28,800	0	0	38,400	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
VAT on invoices	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	28,800	0	0	38,400	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Cash received	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	-733.15	29,533.15	0	2,725.74	16,474.26	19,200	14,400	14,400	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
RECEIVABLE (incl. VAT)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	opening + invoiced - received	0	0	0	0	29,533.15	0	0	35,674.26	19,200	28,800	14,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	-21,730	-3,610	16,200	2,773.33	20,582.557	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	29,533.15	0	0	35,674.26	19,200	28,800	14,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	93.5216	0	0	84.7264	45.6	39.0857	45.6	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Retainers	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Project fees	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Revenue (EUR at the monthly average rate)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Production cost (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	revenue - production cost	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Hours worked (retainers, projects, time and materials, media)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	engine sheets	173.7	166.3	168.2	171.9	166.6	163.6	160.1	174.5	168.1125	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,513.0125	0
Delivery cost at standard (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	hours x standard cost rate of the work type	8,081.1492	7,736.8746	7,825.2694	7,997.4068	7,750.8317	7,611.2609	7,448.4283	8,118.3681	7,821.1986	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	70,390.7876	0
Media spend rebilled at cost (not revenue)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	fees + media + recharges	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
VAT on invoices	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Cash received	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	A: bank; F: opening + invoiced - closing at days to collect	14,979.91	12,244.86	14,849.75	12,379.78	13,716.36	13,234.24	13,589.08	12,458.29	7,890.69	13,500	2,700	0	0	0	0	0	0	0	0	0	0	0	0	0	131,542.96	0
RECEIVABLE (incl. VAT)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	opening + invoiced - received	8,563.05	9,818.19	8,468.44	9,588.66	9,372.3	9,638.06	9,548.98	10,590.69	16,200	2,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		8,563.05	9,818.19	8,468.44	9,588.66	9,372.3	9,638.06	9,548.98	10,590.69	16,200	2,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		19.2827	22.1091	19.0697	21.5922	21.105	21.7035	21.5029	23.8487	36.48	9.12	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Projects	10,258.69	4,833.42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15,092.11	0
Time and materials	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	TM_Media	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	7,822.8837	8,119.9552	7,525.8121	6,040.4545	7,525.8121	7,228.7406	7,822.8837	7,426.7883	7,426.7883	6,832.6452	5,545.3353	6,733.6214	7,822.8837	8,119.9552	7,525.8121	6,040.4545	78,424.7055	86,051.7203
Media management fees	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		10,258.69	4,833.42	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	7,822.8837	8,119.9552	7,525.8121	6,040.4545	7,525.8121	7,228.7406	7,822.8837	7,426.7883	7,426.7883	6,832.6452	5,545.3353	6,733.6214	7,822.8837	8,119.9552	7,525.8121	6,040.4545	93,516.8155	86,051.7203
Revenue (EUR at the monthly average rate)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		10,258.69	4,833.42	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	7,822.8837	8,119.9552	7,525.8121	6,040.4545	7,525.8121	7,228.7406	7,822.8837	7,426.7883	7,426.7883	6,832.6452	5,545.3353	6,733.6214	7,822.8837	8,119.9552	7,525.8121	6,040.4545	93,516.8155	86,051.7203
Production cost (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	revenue - production cost	10,258.69	4,833.42	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	7,822.8837	8,119.9552	7,525.8121	6,040.4545	7,525.8121	7,228.7406	7,822.8837	7,426.7883	7,426.7883	6,832.6452	5,545.3353	6,733.6214	7,822.8837	8,119.9552	7,525.8121	6,040.4545	93,516.8155	86,051.7203
Hours worked (retainers, projects, time and materials, media)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	engine sheets	133.4	51.6	96.2	91.5	99.9	86.4	64.5	90.6	88.3636	91.7192	85.0081	68.2301	85.0081	81.6525	88.3636	83.8895	83.8895	77.1784	62.6375	76.0598	88.3636	91.7192	85.0081	68.2301	1,047.4211	972
Delivery cost at standard (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	hours x standard cost rate of the work type	7,059.0527	2,730.4882	5,296.7432	5,037.9626	5,500.4641	4,757.1581	3,551.3507	4,988.4089	4,865.2754	5,050.0327	4,680.5181	3,756.7316	4,891.1414	4,698.07	5,084.2128	4,826.7843	4,826.7843	4,440.6415	3,603.9989	4,376.2844	5,084.2128	5,277.2841	4,891.1414	3,925.7845	57,274.1864	55,926.3405
Media spend rebilled at cost (not revenue)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	fees + media + recharges	0	22,200	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	7,822.8837	8,119.9552	7,525.8121	6,040.4545	7,525.8121	7,228.7406	7,822.8837	7,426.7883	7,426.7883	6,832.6452	5,545.3353	6,733.6214	7,822.8837	8,119.9552	7,525.8121	94,584.251	86,051.7203
VAT on invoices	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		0	22,200	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	7,822.8837	8,119.9552	7,525.8121	6,040.4545	7,525.8121	7,228.7406	7,822.8837	7,426.7883	7,426.7883	6,832.6452	5,545.3353	6,733.6214	7,822.8837	8,119.9552	7,525.8121	94,584.251	86,051.7203
Cash received	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	0	1,693.13	20,506.87	-317.13	9,866.63	8,030.82	9,454.63	7,698.71	2,903.51	7,121.185	8,068.6868	7,971.4194	7,822.8837	6,783.1333	6,783.1333	7,377.2764	7,525.8121	7,624.836	7,426.7883	7,129.7168	6,188.9902	6,139.4783	7,278.2525	7,971.4194	82,998.4613	86,051.7203
RECEIVABLE (incl. VAT)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	opening + invoiced - received	0	20,506.87	0	9,025.5	7,550.7	8,818.56	7,638.28	5,867.45	11,278.43	11,980.1287	12,031.397	11,585.7897	9,803.3605	10,546.0394	10,991.6467	11,437.254	11,338.2301	11,140.1824	10,546.0394	8,961.6579	9,506.289	11,189.6944	12,031.397	11,585.7897	11,585.7897	11,585.7897
Contract position (+ unbilled work / - deferred income)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	opening + revenue - invoiced revenue	17,366.58	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	7,822.8837	8,119.9552	7,525.8121	6,040.4545	7,525.8121	7,228.7406	7,822.8837	7,426.7883	7,426.7883	6,832.6452	5,545.3353	6,733.6214	7,822.8837	8,119.9552	7,525.8121	6,040.4545	6,040.4545	6,040.4545
Receivable (EUR at the month-end rate)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		0	20,506.87	0	9,025.5	7,550.7	8,818.56	7,638.28	5,867.45	11,278.43	11,980.1287	12,031.397	11,585.7897	9,803.3605	10,546.0394	10,991.6467	11,437.254	11,338.2301	11,140.1824	10,546.0394	8,961.6579	9,506.289	11,189.6944	12,031.397	11,585.7897	11,585.7897	11,585.7897
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		0	56.163	0	26.6312	40.2699	30.4654	26.829	22.7698	45.6813	49.5162	45.2343	45.0228	41.2274	45.6	48.2057	46.2	46.0018	44.8035	44.3507	41.268	45.3637	50.7665	48.3878	45.0228	45.0228	45.0228
Retainer fees	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Retainers	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	7,650	108,000	91,800
Project fees	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	TM_Media	2,137.69	2,336.6	2,412.33	2,564.13	2,472.11	2,564.77	2,427.7	2,629.53	2,376	2,613.6	3,207.6	2,851.2	1,716.66	1,716.66	1,918.62	2,019.6	2,019.6	1,918.62	1,716.66	1,817.64	2,019.6	2,221.56	2,726.46	2,423.52	30,593.26	24,235.2
Production recharged (principal)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		11,137.69	11,336.6	11,412.33	11,564.13	11,472.11	11,564.77	11,427.7	11,629.53	11,376	11,613.6	12,207.6	11,851.2	9,366.66	9,366.66	9,568.62	9,669.6	9,669.6	9,568.62	9,366.66	9,467.64	9,669.6	9,871.56	10,376.46	10,073.52	138,593.26	116,035.2
Revenue (EUR at the monthly average rate)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		11,137.69	11,336.6	11,412.33	11,564.13	11,472.11	11,564.77	11,427.7	11,629.53	11,376	11,613.6	12,207.6	11,851.2	9,366.66	9,366.66	9,568.62	9,669.6	9,669.6	9,568.62	9,366.66	9,467.64	9,669.6	9,871.56	10,376.46	10,073.52	138,593.26	116,035.2
Production cost (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	revenue - production cost	11,137.69	11,336.6	11,412.33	11,564.13	11,472.11	11,564.77	11,427.7	11,629.53	11,376	11,613.6	12,207.6	11,851.2	9,366.66	9,366.66	9,568.62	9,669.6	9,669.6	9,568.62	9,366.66	9,467.64	9,669.6	9,871.56	10,376.46	10,073.52	138,593.26	116,035.2
Hours worked (retainers, projects, time and materials, media)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	engine sheets	134	125.3	130.5	134.8	129.5	132.4	126.2	132.7	130.675	130.675	130.675	130.675	115.5738	115.5738	115.5738	115.5738	115.5738	115.5738	115.5738	115.5738	115.5738	115.5738	115.5738	115.5738	1,568.1	1,386.885
Delivery cost at standard (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	hours x standard cost rate of the work type	6,274.6626	5,868.6214	6,111.3127	6,311.9998	6,064.6413	6,199.9884	5,910.6256	6,213.9898	6,119.4802	6,119.4802	6,119.4802	6,119.4802	5,658.3443	5,658.3443	5,658.3443	5,658.3443	5,658.3443	5,658.3443	5,658.3443	5,658.3443	5,658.3443	5,658.3443	5,658.3443	5,658.3443	73,433.7622	67,900.1317
Media spend rebilled at cost (not revenue)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	TM_Media	17,814.1	19,471.68	20,102.78	21,367.75	20,600.91	21,373.1	20,230.83	21,912.78	19,800	21,780	26,730	23,760	14,305.5	14,305.5	15,988.5	16,830	16,830	15,988.5	14,305.5	15,147	16,830	18,513	22,720.5	20,196	254,943.93	201,960
Invoiced ex VAT	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	fees + media + recharges	28,951.79	30,808.28	31,515.11	32,931.88	32,073.02	32,937.87	31,658.53	33,542.31	31,176	33,393.6	38,937.6	35,611.2	23,672.16	23,672.16	25,557.12	26,499.6	26,499.6	25,557.12	23,672.16	24,614.64	26,499.6	28,384.56	33,096.96	30,269.52	393,537.19	317,995.2
VAT on invoices	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Client_Register VAT rate	6,948.4296	7,393.9872	7,563.6264	7,903.6512	7,697.5248	7,905.0888	7,598.0472	8,050.1544	7,482.24	8,014.464	9,345.024	8,546.688	5,681.3184	5,681.3184	6,133.7088	6,359.904	6,359.904	6,133.7088	5,681.3184	5,907.5136	6,359.904	6,812.2944	7,943.2704	7,264.6848	94,448.9256	76,318.848
INVOICED INCL. VAT	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		35,900.2196	38,202.2672	39,078.7364	40,835.5312	39,770.5448	40,842.9588	39,256.5772	41,592.4644	38,658.24	41,408.064	48,282.624	44,157.888	29,353.4784	29,353.4784	31,690.8288	32,859.504	32,859.504	31,690.8288	29,353.4784	30,522.1536	32,859.504	35,196.8544	41,040.2304	37,534.2048	487,986.1156	394,314.048
Cash received	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	A: bank; F: opening + invoiced - closing at days to collect	41,393.15	34,546.01	45,393.93	39,731.77	36,699.01	41,232.45	41,933.12	37,332.35	21,015.2076	38,749.9008	41,637.216	48,145.1328	43,664.4077	29,353.4784	29,431.3901	31,729.7846	32,859.504	32,820.5482	31,612.9171	29,392.4342	30,600.0653	32,937.4157	35,391.6336	40,923.3629	467,809.2472	400,716.9418
RECEIVABLE (incl. VAT)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	opening + invoiced - received	17,016.1596	20,672.4168	14,357.2232	15,460.9844	18,532.5192	18,143.028	15,466.4852	19,726.5996	37,369.632	40,027.7952	46,673.2032	42,685.9584	28,375.0291	28,375.0291	30,634.4678	31,764.1872	31,764.1872	30,634.4678	28,375.0291	29,504.7485	31,764.1872	34,023.6259	39,672.2227	36,283.0646	42,685.9584	36,283.0646
Contract position (+ unbilled work / - deferred income)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		17,016.1596	20,672.4168	14,357.2232	15,460.9844	18,532.5192	18,143.028	15,466.4852	19,726.5996	37,369.632	40,027.7952	46,673.2032	42,685.9584	28,375.0291	28,375.0291	30,634.4678	31,764.1872	31,764.1872	30,634.4678	28,375.0291	29,504.7485	31,764.1872	34,023.6259	39,672.2227	36,283.0646	42,685.9584	36,283.0646
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		14.4091	16.9614	11.5689	11.9377	14.1218	13.6242	11.7673	14.7838	28.518	30.0063	33.1643	29.0848	21.2474	25.1573	30.9063	30.8496	29.7392	28.6815	27.558	29.3867	31.2384	31.477	33.1643	29.0848	29.0848	29.0848
Retainer fees	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	TM_Media	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	8,980.4008	9,321.4287	8,639.373	6,934.2336	8,639.373	8,298.3451	8,980.4008	8,525.697	8,525.697	7,843.6412	6,365.8538	7,729.9653	8,980.4008	9,321.4287	8,639.373	6,934.2336	108,488.4261	98,784.4093
Media management fees	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	8,980.4008	9,321.4287	8,639.373	6,934.2336	8,639.373	8,298.3451	8,980.4008	8,525.697	8,525.697	7,843.6412	6,365.8538	7,729.9653	8,980.4008	9,321.4287	8,639.373	6,934.2336	108,488.4261	98,784.4093
Revenue (EUR at the monthly average rate)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	8,980.4008	9,321.4287	8,639.373	6,934.2336	8,639.373	8,298.3451	8,980.4008	8,525.697	8,525.697	7,843.6412	6,365.8538	7,729.9653	8,980.4008	9,321.4287	8,639.373	6,934.2336	108,488.4261	98,784.4093
Production cost (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	revenue - production cost	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	8,980.4008	9,321.4287	8,639.373	6,934.2336	8,639.373	8,298.3451	8,980.4008	8,525.697	8,525.697	7,843.6412	6,365.8538	7,729.9653	8,980.4008	9,321.4287	8,639.373	6,934.2336	108,488.4261	98,784.4093
Hours worked (retainers, projects, time and materials, media)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	engine sheets	115.9	109.7	133.7	145	113.4	121.3	95.8	99	117.8182	122.2923	113.3441	90.9735	113.3441	108.87	117.8182	111.8527	111.8527	102.9045	83.5167	101.4131	117.8182	122.2923	113.3441	90.9735	1,378.2281	1,296
Delivery cost at standard (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	hours x standard cost rate of the work type	6,381.4193	6,040.0492	7,361.482	7,983.6566	6,243.7701	6,678.7417	5,274.7193	5,450.9104	6,487.0338	6,733.3769	6,240.6908	5,008.9755	6,521.5219	6,264.0934	6,778.9504	6,435.7124	6,435.7124	5,920.8554	4,805.3319	5,835.0459	6,778.9504	7,036.3789	6,521.5219	5,234.3794	75,884.8256	74,568.454
Media spend rebilled at cost (not revenue)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	fees + media + recharges	7,861.33	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	8,980.4008	9,321.4287	8,639.373	6,934.2336	8,639.373	8,298.3451	8,980.4008	8,525.697	8,525.697	7,843.6412	6,365.8538	7,729.9653	8,980.4008	9,321.4287	8,639.373	109,415.5225	98,784.4093
VAT on invoices	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Client_Register VAT rate	1,886.7192	2,319.3984	2,112.0576	2,433.3672	2,725.1232	2,232.816	2,384.6496	1,843.872	1,855.8336	2,155.2962	2,237.1429	2,073.4495	1,664.2161	2,073.4495	1,991.6028	2,155.2962	2,046.1673	2,046.1673	1,882.4739	1,527.8049	1,855.1917	2,155.2962	2,237.1429	2,073.4495	26,259.7254	23,708.2582
INVOICED INCL. VAT	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		9,748.0492	11,983.5584	10,912.2976	12,572.3972	14,079.8032	11,536.216	12,320.6896	9,526.672	9,588.4736	11,135.697	11,558.5716	10,712.8225	8,598.4496	10,712.8225	10,289.9479	11,135.697	10,571.8643	10,571.8643	9,726.1151	7,893.6587	9,585.157	11,135.697	11,558.5716	10,712.8225	135,675.2479	122,492.6675
Cash received	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	A: bank; F: opening + invoiced - closing at days to collect	10,312.08	10,085.46	13,003.59	10,502.26	14,112.37	13,182.28	11,892.02	10,172.21	5,385.6945	9,578.1733	10,877.8265	11,488.0925	10,853.7807	8,950.8451	10,360.427	10,360.427	10,994.7389	10,665.8364	10,571.8643	9,867.0733	8,199.0681	9,303.2406	10,877.2737	11,488.0925	130,592.0569	122,492.6675
RECEIVABLE (incl. VAT)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	opening + invoiced - received	6,992.0292	8,890.1276	6,798.8352	8,868.9724	8,836.4056	7,190.3416	7,619.0112	6,973.4732	11,176.2523	12,733.776	13,414.5211	12,639.2511	10,383.92	12,145.8974	12,075.4183	12,850.6884	12,427.8138	12,333.8417	11,488.0925	9,514.6779	10,900.7667	12,733.2232	13,414.5211	12,639.2511	12,639.2511	12,639.2511
Contract position (+ unbilled work / - deferred income)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	opening + revenue - invoiced revenue	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	8,980.4008	9,321.4287	8,639.373	6,934.2336	8,639.373	8,298.3451	8,980.4008	8,525.697	8,525.697	7,843.6412	6,365.8538	7,729.9653	8,980.4008	9,321.4287	8,639.373	6,934.2336	6,934.2336	6,934.2336
Receivable (EUR at the month-end rate)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		6,992.0292	8,890.1276	6,798.8352	8,868.9724	8,836.4056	7,190.3416	7,619.0112	6,973.4732	11,176.2523	12,733.776	13,414.5211	12,639.2511	10,383.92	12,145.8974	12,075.4183	12,850.6884	12,427.8138	12,333.8417	11,488.0925	9,514.6779	10,900.7667	12,733.2232	13,414.5211	12,639.2511	12,639.2511	12,639.2511
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		21.8052	24.8725	18.9945	22.8049	21.4532	17.1717	18.3161	19.0507	32.424	38.3897	37.8965	34.5046	30.6776	36.8939	37.2038	36.4667	35.422	34.8472	33.9397	30.78	36.543	40.5833	37.9004	34.5046	34.5046	34.5046
Retainer fees	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	3,750	0	45,000
Project fees	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	3,555.5556	8,888.8889	11,555.5556	11,555.5556	8,888.8889	3,555.5556	0	0	0	0	0	0	0	48,000
Time and materials	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (USD)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	7,305.5556	12,638.8889	15,305.5556	15,305.5556	12,638.8889	7,305.5556	3,750	3,750	3,750	3,750	3,750	3,750	0	93,000
Revenue (EUR at the monthly average rate)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	6,057.755	10,480.1464	12,691.3421	12,691.3421	10,480.1464	6,057.755	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	0	77,115.451
Production cost (EUR)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	6,057.755	10,480.1464	12,691.3421	12,691.3421	10,480.1464	6,057.755	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	3,109.494	0	77,115.451
Hours worked (retainers, projects, time and materials, media)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	77.3333	134.8333	163.5833	163.5833	134.8333	77.3333	39	39	39	39	39	39	0	985.5
Delivery cost at standard (EUR)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	4,323.5421	7,503.1585	9,092.9667	9,092.9667	7,503.1585	4,323.5421	2,203.7978	2,203.7978	2,203.7978	2,203.7978	2,203.7978	2,203.7978	0	55,062.1212
Media spend rebilled at cost (not revenue)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	18,150	3,750	3,750	22,950	3,750	18,150	3,750	3,750	3,750	3,750	3,750	3,750	0	93,000
VAT on invoices	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	18,150	3,750	3,750	22,950	3,750	18,150	3,750	3,750	3,750	3,750	3,750	3,750	0	93,000
Cash received	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18,150	3,750	3,750	22,950	3,750	18,150	3,750	3,750	3,750	3,750	0	85,500
RECEIVABLE (incl. VAT)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	18,150	21,900	7,500	26,700	26,700	21,900	21,900	7,500	7,500	7,500	7,500	7,500	0	7,500
Contract position (+ unbilled work / - deferred income)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	-10,844.4444	-1,955.5556	9,600	1,955.5556	10,844.4444	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	15,049.9509	18,159.4449	6,218.988	22,139.5972	22,139.5972	18,159.4449	18,159.4449	6,218.988	6,218.988	6,218.988	6,218.988	6,218.988	0	6,218.988
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	91.2	91.2	26.6667	79.9685	79.9685	44.5324	77.8667	26.6667	60.8	60.8	60.8	60.8	0	60.8
Retainer fees	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,000	4,000	4,000	4,000	4,000	4,000	4,000	0	28,000
Project fees	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,323.6152	8,571.4286	11,720.1166	12,769.6793	11,720.1166	8,571.4286	3,323.6152	0	0	0	60,000
Time and materials	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,323.6152	8,571.4286	15,720.1166	16,769.6793	15,720.1166	12,571.4286	7,323.6152	4,000	4,000	0	88,000
Revenue (EUR at the monthly average rate)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,731.3	9,622.8263	17,648.3943	18,826.6996	17,648.3943	14,113.4785	8,221.9522	4,490.6523	4,490.6523	0	98,794.3497
Production cost (EUR)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,731.3	9,622.8263	17,648.3943	18,826.6996	17,648.3943	14,113.4785	8,221.9522	4,490.6523	4,490.6523	0	98,794.3497
Hours worked (retainers, projects, time and materials, media)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	36.629	94.4643	179.5655	191.1325	179.5655	144.8643	87.029	50.4	50.4	0	1,014.05
Delivery cost at standard (EUR)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,025.4991	5,223.6556	9,592.8544	10,232.4857	9,592.8544	7,673.9605	4,475.804	2,450.3049	2,450.3049	0	53,717.7235
Media spend rebilled at cost (not revenue)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18,000	0	4,000	28,000	4,000	4,000	22,000	4,000	4,000	0	88,000
VAT on invoices	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18,000	0	4,000	28,000	4,000	4,000	22,000	4,000	4,000	0	88,000
Cash received	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18,000	0	4,000	28,000	4,000	4,000	22,000	0	80,000
RECEIVABLE (incl. VAT)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18,000	18,000	4,000	32,000	32,000	8,000	26,000	26,000	8,000	0	8,000
Contract position (+ unbilled work / - deferred income)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-14,676.3848	-6,104.9563	5,615.1603	-5,615.1603	6,104.9563	14,676.3848	0	0	0	0	0
Receivable (EUR at the month-end rate)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	20,207.9352	20,207.9352	4,490.6523	35,925.2181	35,925.2181	8,981.3045	29,189.2397	29,189.2397	8,981.3045	0	8,981.3045
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	91.2	91.2	16.5818	91.2	81.0667	20.2667	79.04	79.04	24.32	0	24.32
Retainer fees	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	2,750	2,750	2,750	2,750	2,750	2,750	2,750	2,750	0	24,750
Project fees	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,629.6296	4,074.0741	5,296.2963	5,296.2963	4,074.0741	1,629.6296	0	0	0	22,000
Time and materials	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	4,379.6296	6,824.0741	8,046.2963	8,046.2963	6,824.0741	4,379.6296	2,750	2,750	0	46,750
Revenue (EUR at the monthly average rate)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	4,379.6296	6,824.0741	8,046.2963	8,046.2963	6,824.0741	4,379.6296	2,750	2,750	0	46,750
Production cost (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	4,379.6296	6,824.0741	8,046.2963	8,046.2963	6,824.0741	4,379.6296	2,750	2,750	0	46,750
Hours worked (retainers, projects, time and materials, media)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	33	51.7407	79.8519	93.9074	93.9074	79.8519	51.7407	33	33	0	550
Delivery cost at standard (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,604.3663	2,640.6858	4,195.1649	4,972.4045	4,972.4045	4,195.1649	2,640.6858	1,604.3663	1,604.3663	0	28,429.6092
Media spend rebilled at cost (not revenue)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	9,350	2,750	2,750	11,550	2,750	9,350	2,750	2,750	0	46,750
VAT on invoices	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	9,350	2,750	2,750	11,550	2,750	9,350	2,750	2,750	0	46,750
Cash received	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,375	6,050	6,050	2,750	7,150	7,150	6,050	6,050	0	42,625
RECEIVABLE (incl. VAT)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	10,725	7,425	4,125	12,925	8,525	10,725	7,425	4,125	0	4,125
Contract position (+ unbilled work / - deferred income)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-4,970.3704	-896.2963	4,400	896.2963	4,970.3704	0	0	0	0	0
Receivable (EUR at the month-end rate)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,750	10,725	7,425	4,125	12,925	8,525	10,725	7,425	4,125	0	4,125
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	91.2	80.8364	45.6	25.3333	69.1355	45.6	41.3581	45.6	25.3333	0	25.3333
Retainer fees	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	41,664	49,728	59,136	59,136	49,728	59,136	59,136	49,728	59,136	0	504,000
Time and materials	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	41,664	49,728	59,136	59,136	49,728	59,136	59,136	49,728	59,136	0	504,000
Revenue (EUR at the monthly average rate)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	41,664	49,728	59,136	59,136	49,728	59,136	59,136	49,728	59,136	0	504,000
Production cost (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,472	41,664	49,728	59,136	59,136	49,728	59,136	59,136	49,728	59,136	0	504,000
Hours worked (retainers, projects, time and materials, media)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	192.556	459.172	548.044	651.728	651.728	548.044	651.728	651.728	548.044	651.728	0	5,554.5
Delivery cost at standard (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,647.8995	25,391.1449	30,305.5601	36,039.0444	36,039.0444	30,305.5601	36,039.0444	36,039.0444	30,305.5601	36,039.0444	0	307,150.9467
Media spend rebilled at cost (not revenue)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	0	67,200	50,400	50,400	67,200	50,400	50,400	67,200	50,400	0	504,000
VAT on invoices	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	0	67,200	50,400	50,400	67,200	50,400	50,400	67,200	50,400	0	504,000
Cash received	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	25,200	25,200	33,600	58,800	50,400	58,800	58,800	50,400	58,800	0	420,000
RECEIVABLE (incl. VAT)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	25,200	67,200	84,000	75,600	92,400	84,000	75,600	92,400	84,000	0	84,000
Contract position (+ unbilled work / - deferred income)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-32,928	8,736	-8,736	0	8,736	-8,736	0	8,736	-8,736	0	0	0
Receivable (EUR at the month-end rate)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	50,400	25,200	67,200	84,000	75,600	92,400	84,000	75,600	92,400	84,000	0	84,000
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	91.2	45.6	52.1143	65.1429	41.04	50.16	45.6	41.04	50.16	45.6	0	45.6
EUR clients: retainer fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	57,500	57,500	57,500	48,750	48,750	45,250	48,000	48,000	48,000	48,000	48,000	48,000	44,800	44,800	44,800	811,500	565,150
EUR clients: project fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	10,258.69	4,833.42	0	0	7,070	18,120	19,810	24,973.33	17,809.227	8,217.443	0	5,468.75	12,031.25	12,031.25	22,940.75	41,664	51,357.6296	63,210.0741	64,432.2963	55,024.2963	63,210.0741	60,765.6296	49,728	59,136	116,560.86	555,531.25
EUR clients: time and materials	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	9,664.16	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	13,610.68	16,047.13	16,803.2845	17,441.3839	16,165.1851	12,974.688	16,165.1851	15,527.0857	16,803.2845	15,952.4853	15,952.4853	14,676.2865	11,911.189	14,463.5867	16,803.2845	17,441.3839	16,165.1851	12,974.688	186,913.1316	184,836.1296
EUR clients: media management fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	8,432.55	8,604.35	9,067.88	9,810.39	9,380.12	9,591.18	8,429.97	8,627.11	8,676	9,543.6	11,712.6	10,411.2	7,071.66	7,071.66	7,262.37	7,644.6	7,644.6	7,262.37	6,497.91	6,880.14	7,644.6	7,617.06	9,348.21	8,309.52	112,286.95	90,254.7
EUR clients: production recharged	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EUR clients: media spend rebilled	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	80,762.71	82,149.17	86,658.27	93,830.35	89,680.99	91,637.13	80,253.56	81,888.66	82,800	91,080	111,780	99,360	67,855.5	67,855.5	69,426	73,080	73,080	69,426	62,118	65,772	73,080	72,468	88,938	79,056	1,071,880.84	862,155
EUR clients: vat on invoices	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	9,338.0736	10,169.7602	11,582.1669	10,620.1375	7,345.5345	7,754.7679	8,125.3116	8,515.2002	8,406.0713	8,179.8761	7,563.7923	7,435.3185	8,215.0957	8,967.5906	10,180.4133	9,338.1343	120,708.651	100,027.1062
EUR clients: invoiced incl. vat	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	208,891.7388	187,331.0656	169,202.074	235,825.1584	213,030.268	184,968.2948	219,876.6168	207,420.4764	171,861.2036	245,896.6447	194,016.1508	188,556.5226	175,997.3825	145,597.113	190,490.7673	186,043.0847	210,883.1566	183,220.7314	221,255.9888	199,998.6475	185,803.2823	233,255.9351	225,108.0072	195,268.8394	2,426,876.2145	2,352,922.9358
EUR clients: cash received	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	186,307.37	218,587.83	184,863.9	161,420.07	226,869.25	228,033.51	182,256.77	230,382.82	91,673.5621	188,285.9891	206,948.7293	223,397.1448	188,448.572	174,169.9568	161,579.9504	169,110.613	189,133.18	198,236.2205	196,389.6947	200,826.7243	210,678.7486	194,711.3846	211,409.9098	232,127.7498	2,329,026.9453	2,326,822.7046
EUR clients: receivables	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	180,833.5988	149,576.8344	133,915.0084	208,320.0968	194,481.1148	151,415.8996	189,035.7464	166,073.4028	246,261.0443	303,871.6998	290,939.1214	256,098.4992	243,647.3097	215,074.4659	243,985.2828	260,917.7545	282,667.7311	267,652.2419	292,518.536	291,690.4592	266,814.9929	305,359.5435	319,057.6409	282,198.7304	256,098.4992	282,198.7304
EUR clients: contract position (net)	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	-4,969.26	-7,199.76	18,847.4	-12,253.49	-19,127.92	14,600.39	-2,189.32	2,820.46	37,385.8415	-14,558.6161	165.1851	7,943.438	-8,834.8149	4,558.3357	-16,124.7155	-7,311.5147	-13,753.8851	13,779.9902	-6,952.811	-9,376.117	21,773.6549	577.3839	-5,370.8149	12,974.688	7,943.438	12,974.688
EUR clients: written off	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EUR clients: contract assets (sum of positive positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		27,030.74	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	29,810.68	18,820.46	37,385.8415	17,441.3839	16,165.1851	12,974.688	23,165.1851	20,558.3357	16,803.2845	24,688.4853	15,952.4853	14,676.2865	25,047.189	15,359.883	21,773.6549	26,177.3839	16,165.1851	12,974.688	12,974.688	12,974.688
EUR clients: contract liabilities (sum of negative positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		32,000	16,000	0	32,000	37,730	3,610	32,000	16,000	0	32,000	16,000	5,031.25	32,000	16,000	32,928	32,000	29,706.3704	896.2963	32,000	24,736	0	25,600	21,536	0	5,031.25	0
GBP clients: retainer fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	75,000	75,000	75,000	75,000	75,000	86,500	86,500	86,500	86,500	86,500	86,500	86,500	44,500	44,500	44,500	41,500	41,500	42,625	39,025	39,025	39,025	39,025	39,025	39,025	980,500	493,275
GBP clients: project fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	47,936.1	32,757.37	30,395.81	26,746.92	29,290	36,908	47,855.38	50,559.83	45,134.982	33,345.9997	13,765.8083	0	0	0	0	3,323.6152	8,571.4286	11,720.1166	12,769.6793	11,720.1166	8,571.4286	3,323.6152	0	0	394,696.2	60,000
GBP clients: time and materials	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	16,629.6649	21,990.8255	20,381.7407	16,359.0287	20,381.7407	19,577.1983	21,186.2831	20,113.5599	20,113.5599	18,504.4751	15,018.1247	18,236.2943	21,186.2831	21,990.8255	20,381.7407	16,359.0287	214,835.3799	233,049.1144
GBP clients: media management fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	4,950	5,445	6,682.5	5,940	4,207.5	4,207.5	4,702.5	3,960	3,960	3,762	3,366	3,564	3,960	4,356	5,346	4,752	65,857.24	50,143.5
GBP clients: production recharged	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	4,147.7625	5,513.3484	2,071.4635	1,593.4335	637.3734	0	0	0	0	0	0	0	0	0	0	0	0	0	13,963.3812	0
GBP clients: media spend rebilled	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	49,500	54,450	66,825	59,400	42,075	42,075	47,025	39,600	39,600	37,620	33,660	35,640	39,600	43,560	53,460	47,520	658,572.39	501,435
GBP clients: vat on invoices	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
GBP clients: invoiced incl. vat	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	262,117.77	133,065.65	208,794.61	227,866.52	136,740.58	216,806.35	216,663.5925	156,692.0784	247,542.0635	194,618.0984	209,935.6989	157,221.7407	137,141.5287	96,164.2407	100,804.6983	148,246.2831	93,173.5599	92,120.5599	142,555.4751	81,247.1247	88,821.2943	150,127.2831	107,821.8255	99,678.7407	2,368,064.7524	1,337,902.6144
GBP clients: cash received	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	149,939.48	263,577.32	138,292.92	196,524.27	230,248.72	147,905.64	224,546.34	206,133.27	78,520.9917	193,471.0943	228,242.2151	197,711.1455	188,460.2261	155,760.4004	115,074.1191	98,800.2227	114,893.9845	130,130.9257	90,647.0599	105,969.5238	125,269.5635	83,771.197	109,316.5272	137,658.8012	2,255,113.4066	1,455,752.5511
GBP clients: receivables	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	281,297.12	150,785.45	221,287.14	252,629.39	159,121.25	228,021.96	220,139.2125	170,698.0209	339,719.0927	340,866.0968	322,559.5806	282,070.1758	230,751.4785	171,155.3188	156,885.898	206,331.9585	184,611.534	146,601.1682	198,509.5834	173,787.1844	137,338.9152	203,695.0013	202,200.2996	164,220.2391	282,070.1758	164,220.2391
GBP clients: contract position (net)	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	-5,707.97	39,614.9	13,480.49	-29,486.46	16,262.79	-5,233.96	-16,944.64	54,573.81	11,817.8569	20,525.0172	5,381.7407	16,359.0287	-9,618.2593	4,577.1983	21,186.2831	-18,562.8249	2,008.6037	24,119.6355	-14,597.0356	12,341.2506	35,862.668	-2,009.1745	8,381.7407	16,359.0287	16,359.0287	16,359.0287
GBP clients: written off	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
GBP clients: contract assets (sum of positive positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		25,501.63	54,614.9	49,150.49	14,873.54	31,262.79	17,728.04	32,540.98	69,573.81	17,661.1407	50,525.0172	20,381.7407	16,359.0287	20,381.7407	19,577.1983	21,186.2831	20,113.5599	20,113.5599	24,119.6355	15,018.1247	24,341.2506	35,862.668	21,990.8255	20,381.7407	16,359.0287	16,359.0287	16,359.0287
GBP clients: contract liabilities (sum of negative positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		31,209.6	15,000	35,670	44,360	15,000	22,962	49,485.62	15,000	5,843.2838	30,000	15,000	0	30,000	15,000	0	38,676.3848	18,104.9563	0	29,615.1603	12,000	0	24,000	12,000	0	0	0
USD clients: retainer fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	11,000	11,000	11,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	40,750	40,750	40,750	34,250	34,250	34,250	32,050	32,050	32,050	32,050	32,050	32,050	366,000	417,300
USD clients: project fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	24,679.2817	10,846.6683	18,750	41,250	44,805.5556	27,638.8889	11,555.5556	11,555.5556	8,888.8889	3,555.5556	0	0	0	0	0	0	286,500	108,000
USD clients: time and materials	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
USD clients: media management fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	7,290	8,019	9,841.5	8,748	6,196.5	6,196.5	6,925.5	7,290	7,290	6,925.5	4,957.2	5,248.8	5,832	6,415.2	7,873.2	6,998.4	93,993.69	78,148.8
USD clients: production recharged	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	6,331.416	13,929.1152	13,929.1152	6,331.416	0	0	0	0	0	0	0	0	0	0	20,260.5312	20,260.5312
USD clients: media spend rebilled	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	81,000	89,100	109,350	97,200	68,850	68,850	76,950	81,000	81,000	76,950	55,080	58,320	64,800	71,280	87,480	77,760	1,044,374.31	868,320
USD clients: vat on invoices	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
USD clients: invoiced incl. vat	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	84,753.52	149,440.32	101,488.64	132,589.36	155,717.09	198,401.51	135,039.73	135,389.33	136,840	202,069	198,522.916	156,877.1152	192,125.6152	158,127.916	124,625.5	141,740	122,540	132,525.5	92,087.2	95,618.8	102,682	109,745.2	127,403.2	116,808.4	1,787,128.5312	1,516,029.3312
USD clients: cash received	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	108,093.63	145,160.85	115,678.7	125,434.07	122,846.47	97,916.23	200,010.4	151,106.31	73,835.895	135,214.53	141,889.665	197,654.5	187,486.666	163,498.8652	207,576.3652	158,127.916	120,211	139,532.75	122,540	134,732.75	105,106.35	93,853	99,150.4	106,213.6	1,614,841.25	1,638,029.6624
USD clients: receivables	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	230,332.14	234,611.61	220,421.55	227,576.84	260,447.46	360,932.74	295,962.07	280,245.09	343,249.195	410,103.665	466,736.916	425,959.5312	430,598.4804	408,727.5312	325,776.666	309,388.75	311,717.75	304,710.5	274,257.7	235,143.75	232,719.4	248,611.6	276,864.4	287,459.2	425,959.5312	287,459.2
USD clients: contract position (net)	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	-56,170.43	-35,252.61	-6,646.96	13,939.96	-17,129.02	13,393.24	43,974.05	57,103.3317	0	-17,250	24,000	6,405.5556	-1,955.5556	9,600	1,955.5556	10,844.4444	0	0	0	0	0	0	0	24,000	0
USD clients: written off	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	0	0	0	0	0	0	0	0	0	16,500	0	0	0	0	0	0	0	0	0	0	0	16,500
USD clients: contract assets (sum of positive positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	13,939.96	0	13,393.24	43,974.05	57,103.3317	0	0	24,000	17,250	0	9,600	1,955.5556	10,844.4444	0	0	0	0	0	0	0	24,000	0
USD clients: contract liabilities (sum of negative positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		0	56,170.43	35,252.61	6,646.96	0	17,129.02	0	0	0	0	17,250	0	10,844.4444	1,955.5556	0	0	0	0	0	0	0	0	0	0	0	0
Revenue	TOTALS, ALL CLIENTS (EUR)	sum of clients	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	361,734.5251	382,711.3088	345,811.71	306,162.9037	288,680.4504	292,187.8912	249,212.6912	227,136.7893	220,393.5878	234,636.1486	248,010.1088	256,248.6545	240,314.8575	236,740.1815	248,735.2079	239,641.1897	225,841.1589	225,111.5771	3,790,827.1051	2,852,022.1528
Production cost	TOTALS, ALL CLIENTS (EUR)	sum of clients	0	0	0	0	0	0	4,200	5,600	2,022.2222	1,555.5556	5,309.7222	10,312.5	10,312.5	4,687.5	0	0	0	0	0	0	0	0	0	0	29,000	15,000
Net revenue	TOTALS, ALL CLIENTS (EUR)	sum of clients	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	357,534.5251	377,111.3088	343,789.4877	304,607.3482	283,370.7282	281,875.3912	238,900.1912	222,449.2893	220,393.5878	234,636.1486	248,010.1088	256,248.6545	240,314.8575	236,740.1815	248,735.2079	239,641.1897	225,841.1589	225,111.5771	3,761,827.1051	2,837,022.1528
Hours worked	TOTALS, ALL CLIENTS (EUR)	sum of clients	3,133.3	2,928.7	3,104.4	3,337.6	3,567.8	3,958.1	3,969.1	4,109.4	4,044.7568	3,394.1623	3,090.4101	3,122.6861	2,760.2958	2,594.6828	2,567.318	2,715.4158	2,852.1138	2,937.6632	2,783.8106	2,741.6367	2,863.5513	2,761.2317	2,565.6394	2,577.977	41,760.4154	32,721.336
Delivery cost at standard	TOTALS, ALL CLIENTS (EUR)	sum of clients	158,774.9485	148,020.7419	157,477.9809	170,137.7126	182,237.423	202,000.1542	202,305.1664	209,903.2598	206,525.8062	173,338.7932	157,186.9977	158,699.1473	146,193.6649	136,994.7315	135,818.1168	143,922.6548	151,481.7376	156,043.1255	147,440.9324	145,272.4822	152,164.1097	146,773.0695	135,875.4339	136,353.0865	2,126,608.1315	1,734,333.1453
Receivables	TOTALS, ALL CLIENTS (EUR)	sum of clients	698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	732,784.4552	703,983.3115	607,049.1513	912,272.8043	1,026,606.7785	1,040,082.3513	925,973.2278	859,755.0415	746,140.4344	690,248.7752	749,103.679	748,400.1403	684,901.4169	742,791.9586	681,775.7328	613,970.8738	740,188.7381	775,635.9656	704,923.4353	925,973.2278	704,923.4353
Largest client share of net revenue	TOTALS, ALL CLIENTS (EUR)		26.41%	24.78%	20.68%	15.85%	15.03%	13.63%	16.36%	19.74%	21.46%	23.62%	20.31%	20.22%	23.86%	16.93%	10.04%	17.76%	20.05%	23.08%	24.61%	21.01%	23.77%	24.68%	22.02%	26.27%
HAL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	83,621.265	71,851.13	66,099.865	53,736.15	53,382.55	54,156.05	62,491.325	76,851.97	84,286.3106	79,495.5166	65,123.1348	54,743.0813	0	0	0	0	0	0	0	0	0	0	0	0	805,838.3483	0
THV: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	26,473.115	26,708.98	25,868.07	26,442.35	25,888.58	26,842.295	26,708.98	27,273.005	26,525.6719	26,525.6719	26,525.6719	26,525.6719	26,525.6719	26,525.6719	26,525.6719	22,468.5375	22,468.5375	22,468.5375	22,468.5375	22,468.5375	22,468.5375	22,468.5375	22,468.5375	22,468.5375	318,308.0625	281,793.8531
PEL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	15,710.66	14,992.81	15,208.165	15,303.8783	15,303.8783	15,303.8783	15,303.8783	15,303.8783	15,303.8783	15,303.8783	15,303.8783	15,303.8783	11,477.9088	11,477.9088	11,477.9088	11,477.9088	11,477.9088	11,477.9088	11,477.9088	107,127.1483	156,864.7529
ASH: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	28,325	24,695	24,475	20,977	22,737	23,672	18,590	27,093	23,760	24,662.2785	22,857.7215	18,346.3291	22,857.7215	21,955.443	23,760	22,556.962	22,556.962	20,752.4051	16,842.5316	20,451.6456	23,760	24,662.2785	22,857.7215	18,346.3291	280,190.3291	261,360
TWL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	8,499.465	23,132.005	31,794.295	38,893.465	32,858.085	17,834.765	11,284.858	6,726.0759	6,233.9241	5,003.5443	6,233.9241	5,987.8481	6,480	6,151.8987	6,151.8987	5,659.7468	4,593.4177	5,577.7215	6,480	6,726.0759	6,233.9241	5,003.5443	182,260.4823	71,280
RVM: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	50,895.13	48,418.11	39,077.675	30,117.945	22,906.65	21,602.75	23,912.2	22,088.95	22,971.5687	22,971.5687	22,971.5687	22,971.5687	22,971.5687	22,971.5687	22,971.5687	22,971.5687	22,971.5687	22,971.5687	18,377.255	18,377.255	18,377.255	18,377.255	18,377.255	18,377.255	350,905.685	248,092.9425
MAR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	4,580.81	11,245.78	14,068.08	17,105.7512	13,158.2702	5,263.3081	0	0	0	0	0	0	0	0	0	0	0	0	0	65,421.9995	0
QFS: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	27,746.55	28,265.9	26,984.1	26,575.25	25,978.55	27,110.07	27,110.07	45,639.8942	67,875.6833	67,875.6833	45,639.8942	27,110.07	20,332.5525	20,332.5525	20,332.5525	20,332.5525	20,332.5525	20,332.5525	20,332.5525	20,332.5525	20,332.5525	303,286.0675	323,618.62
HOC: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	17,066.56	17,385.24	17,847.84	18,341.28	18,639.4	17,015.16	17,991.76	17,827.28	17,764.315	17,764.315	17,764.315	17,764.315	17,764.315	17,764.315	17,764.315	17,764.315	17,764.315	17,764.315	15,667.452	15,667.452	15,667.452	15,667.452	15,667.452	15,667.452	213,171.78	200,590.602
NOR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	8,119.54	24,868.805	34,008.715	49,433.67	54,730.91	51,756.64	47,078.135	42,064.3462	15,695.6516	0	0	0	0	0	0	0	0	0	0	0	0	0	0	327,756.4128	0
VOL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	25,186.28	24,673.53	25,740.05	23,750.58	24,458.175	23,945.425	25,165.77	24,027.465	24,618.4094	24,618.4094	24,618.4094	31,445.1867	29,789.9558	29,789.9558	21,597.823	14,771.0456	14,771.0456	14,771.0456	14,771.0456	14,771.0456	14,771.0456	14,771.0456	14,771.0456	14,771.0456	302,247.6898	214,117.1452
LIN: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	22,988.68	22,443.84	21,765.36	21,528.92	22,875.6	23,029.8	23,255.96	22,001.8	22,486.245	22,486.245	22,486.245	22,486.245	22,486.245	22,486.245	22,486.245	22,486.245	22,486.245	22,486.245	22,486.245	22,486.245	22,486.245	18,924.996	18,924.996	18,924.996	269,834.94	259,151.193
VDH: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	20,751.92	20,094	20,957.52	19,703.36	19,980.92	19,343.56	20,340.72	20,525.76	20,212.22	20,212.22	20,212.22	20,212.22	20,212.22	20,212.22	16,199.165	16,199.165	16,199.165	16,199.165	16,199.165	16,199.165	16,199.165	16,199.165	16,199.165	16,199.165	242,546.64	202,416.09
VLM: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	7,674.485	19,669.26	21,503.755	29,482.18	23,932.1736	9,572.8694	0	0	0	0	0	0	0	0	0	0	0	0	0	0	111,834.723	0
SRV: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	17,812.935	17,054.065	17,248.91	17,628.345	17,084.83	16,777.18	16,418.255	17,894.975	17,239.9369	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	155,159.4319	0
CAR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	14,480.57	5,601.18	10,582	10,065	10,989	9,504	7,095	9,966	9,720	10,089.1139	9,350.8861	7,505.3165	9,350.8861	8,981.7722	9,720	9,227.8481	9,227.8481	8,489.6203	6,890.1266	8,366.5823	9,720	10,089.1139	9,350.8861	7,505.3165	114,948.0665	106,920
TAM: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	13,811.2	12,916.84	13,451.4	13,893.44	13,348.6	13,646.72	13,009.36	13,677.56	13,469.39	13,469.39	13,469.39	13,469.39	11,916.9815	11,916.9815	11,916.9815	11,916.9815	11,916.9815	11,916.9815	11,916.9815	11,916.9815	11,916.9815	11,916.9815	11,916.9815	11,916.9815	161,632.68	143,003.778
OTH: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	12,749	12,067	14,707	15,950	12,474	13,343	10,538	10,890	12,960	13,452.1519	12,467.8481	10,007.0886	12,467.8481	11,975.6962	12,960	12,303.7975	12,303.7975	11,319.4937	9,186.8354	11,155.443	12,960	13,452.1519	12,467.8481	10,007.0886	151,605.0886	142,560
FER: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	8,470.5833	14,712.2083	17,833.0208	17,833.0208	14,712.2083	8,470.5833	4,309.5	4,309.5	4,309.5	4,309.5	4,309.5	4,309.5	0	107,888.625
BRK: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,976.0789	10,254.0982	19,189.4298	20,445.0337	19,189.4298	15,422.6182	9,144.5989	5,168.52	5,168.52	0	107,958.3275
AUR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,384.15	5,418.4574	8,469.9185	9,995.6491	9,995.6491	8,469.9185	5,418.4574	3,384.15	3,384.15	0	57,920.5
NEW: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	20,901.9538	49,843.1206	59,490.1762	70,745.0744	70,745.0744	59,490.1762	70,745.0744	70,745.0744	59,490.1762	70,745.0744	0	602,940.975
HAL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	84.8	66.4	78.5	56.3	53.1	60.1	59.4	64.7	65.4125	65.4125	65.4125	65.4125	0	0	0	0	0	0	0	0	0	0	0	0	784.95	0
THV: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	17.3	19.6	11.4	17	11.6	20.9	19.6	25.1	17.8125	17.8125	17.8125	17.8125	17.8125	17.8125	17.8125	14.25	14.25	14.25	14.25	14.25	14.25	14.25	14.25	14.25	213.75	181.6875
PEL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	13.2	6.2	8.3	9.2333	9.2333	9.2333	9.2333	9.2333	9.2333	9.2333	9.2333	9.2333	6.925	6.925	6.925	6.925	6.925	6.925	6.925	64.6333	94.6417
ASH: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
TWL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
RVM: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	19.5	24	15.8	24.7	17.3	5.5	26.4	9.9	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	17.8875	14.31	14.31	14.31	14.31	14.31	14.31	214.65	193.185
MAR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
QFS: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	36.1	40.8	29.2	25.5	20.1	30.34	30.34	30.34	30.34	30.34	30.34	30.34	22.755	22.755	22.755	22.755	22.755	22.755	22.755	22.755	22.755	273.06	295.815
HOC: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0.2	3.3	7.8	12.6	15.5	-0.3	9.2	7.6	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	6.9875	5.59	5.59	5.59	5.59	5.59	5.59	83.85	75.465
NOR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
VOL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	55.6	50.6	61	41.6	48.5	43.5	55.4	44.3	50.0625	50.0625	50.0625	50.0625	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	30.0375	600.75	360.45
LIN: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	13.1	7.8	1.2	-1.1	12	13.5	15.7	3.5	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	8.2125	6.57	6.57	6.57	98.55	93.6225
VDH: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	16.4	10	18.4	6.2	8.9	2.7	12.4	14.2	11.15	11.15	11.15	11.15	11.15	11.15	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	8.3625	133.8	105.925
VLM: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
SRV: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	33.7	26.3	28.2	31.9	26.6	23.6	20.1	34.5	28.1125	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	253.0125	0
CAR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
TAM: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	9	0.3	5.5	9.8	4.5	7.4	1.2	7.7	5.675	5.675	5.675	5.675	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	4.8237	68.1	57.885
OTH: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
FER: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	6.5	0	78
BRK: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8.4	8.4	8.4	8.4	8.4	8.4	8.4	0	58.8
AUR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5.5	5.5	5.5	5.5	5.5	5.5	5.5	5.5	5.5	0	49.5
NEW: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

FOREIGN EXCHANGE: RATES, EUR TRANSLATION AND REVALUATION OF CLIENT BALANCES
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
GBP per EUR, monthly average	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	0.8694	0.8712	0.8723	0.8673	0.8667	0.8645	0.8588	0.8561	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8741	0.8907
GBP per EUR, month end	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	0.8662	0.8763	0.8683	0.8662	0.8672	0.8618	0.8557	0.8565	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907	0.8907
USD per EUR, monthly average	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	1.1834	1.1862	1.1651	1.16	1.1673	1.1519	1.144	1.1541	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.178	1.206
USD per EUR, month end	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	1.1919	1.1805	1.1498	1.1702	1.1644	1.1394	1.1485	1.1596	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206	1.206
Retainer fees	EUR CLIENTS (EUR)	invoice currency / average rate	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	57,500	57,500	57,500	48,750	48,750	45,250	48,000	48,000	48,000	48,000	48,000	48,000	44,800	44,800	44,800	811,500	565,150
Project fees	EUR CLIENTS (EUR)	invoice currency / average rate	10,258.69	4,833.42	0	0	7,070	18,120	19,810	24,973.33	17,809.227	8,217.443	0	5,468.75	12,031.25	12,031.25	22,940.75	41,664	51,357.6296	63,210.0741	64,432.2963	55,024.2963	63,210.0741	60,765.6296	49,728	59,136	116,560.86	555,531.25
Time and materials	EUR CLIENTS (EUR)	invoice currency / average rate	9,664.16	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	13,610.68	16,047.13	16,803.2845	17,441.3839	16,165.1851	12,974.688	16,165.1851	15,527.0857	16,803.2845	15,952.4853	15,952.4853	14,676.2865	11,911.189	14,463.5867	16,803.2845	17,441.3839	16,165.1851	12,974.688	186,913.1316	184,836.1296
Media management fees	EUR CLIENTS (EUR)	invoice currency / average rate	8,432.55	8,604.35	9,067.88	9,810.39	9,380.12	9,591.18	8,429.97	8,627.11	8,676	9,543.6	11,712.6	10,411.2	7,071.66	7,071.66	7,262.37	7,644.6	7,644.6	7,262.37	6,497.91	6,880.14	7,644.6	7,617.06	9,348.21	8,309.52	112,286.95	90,254.7
Production recharged	EUR CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Revenue	EUR CLIENTS (EUR)		99,355.4	93,238.01	98,915.28	100,556.9	106,052.2	116,921.57	112,850.65	120,647.57	114,288.5115	92,702.4269	85,377.7851	86,354.638	84,018.0951	83,379.9957	92,256.4045	113,261.0853	122,954.7149	133,148.7305	130,841.3953	124,368.023	135,657.9586	130,624.0735	120,041.3951	125,220.208	1,227,260.9416	1,395,772.0796
Media spend rebilled	EUR CLIENTS (EUR)		80,762.71	82,149.17	86,658.27	93,830.35	89,680.99	91,637.13	80,253.56	81,888.66	82,800	91,080	111,780	99,360	67,855.5	67,855.5	69,426	73,080	73,080	69,426	62,118	65,772	73,080	72,468	88,938	79,056	1,071,880.84	862,155
VAT on invoices	EUR CLIENTS (EUR)		8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	9,338.0736	10,169.7602	11,582.1669	10,620.1375	7,345.5345	7,754.7679	8,125.3116	8,515.2002	8,406.0713	8,179.8761	7,563.7923	7,435.3185	8,215.0957	8,967.5906	10,180.4133	9,338.1343	120,708.651	100,027.1062
Cash received	EUR CLIENTS (EUR)		186,307.37	218,587.83	184,863.9	161,420.07	226,869.25	228,033.51	182,256.77	230,382.82	91,673.5621	188,285.9891	206,948.7293	223,397.1448	188,448.572	174,169.9568	161,579.9504	169,110.613	189,133.18	198,236.2205	196,389.6947	200,826.7243	210,678.7486	194,711.3846	211,409.9098	232,127.7498	2,329,026.9453	2,326,822.7046
Written off	EUR CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivables at the month-end rate	EUR CLIENTS (EUR)		180,833.5988	149,576.8344	133,915.0084	208,320.0968	194,481.1148	151,415.8996	189,035.7464	166,073.4028	246,261.0443	303,871.6998	290,939.1214	256,098.4992	243,647.3097	215,074.4659	243,985.2828	260,917.7545	282,667.7311	267,652.2419	292,518.536	291,690.4592	266,814.9929	305,359.5435	319,057.6409	282,198.7304	256,098.4992	282,198.7304
Contract assets at the month-end rate	EUR CLIENTS (EUR)		27,030.74	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	29,810.68	18,820.46	37,385.8415	17,441.3839	16,165.1851	12,974.688	23,165.1851	20,558.3357	16,803.2845	24,688.4853	15,952.4853	14,676.2865	25,047.189	15,359.883	21,773.6549	26,177.3839	16,165.1851	12,974.688	12,974.688	12,974.688
Contract liabilities at the month-end rate	EUR CLIENTS (EUR)		32,000	16,000	0	32,000	37,730	3,610	32,000	16,000	0	32,000	16,000	5,031.25	32,000	16,000	32,928	32,000	29,706.3704	896.2963	32,000	24,736	0	25,600	21,536	0	5,031.25	0
Net client position (receivables + contract assets - contract liabilities)	EUR CLIENTS (EUR)		175,864.3388	142,377.0744	152,762.4084	196,066.6068	175,353.1948	166,016.2896	186,846.4264	168,893.8628	283,646.8857	289,313.0838	291,104.3064	264,041.9372	234,812.4948	219,632.8016	227,860.5673	253,606.2398	268,913.846	281,432.2321	285,565.725	282,314.3422	288,588.6478	305,936.9274	313,686.826	295,173.4185	264,041.9372	295,173.4185
FX GAIN / (LOSS) ON REVALUATION	EUR CLIENTS (EUR)	closing - opening - flows at average rates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	GBP CLIENTS (EUR)	invoice currency / average rate	86,266.3906	86,083.2138	85,978.6085	86,476.2651	86,531.1397	100,057.8369	100,727.802	101,038.418	97,110.3551	97,110.3551	97,110.3551	97,110.3551	49,958.5064	49,958.5064	49,958.5064	46,590.5172	46,590.5172	47,853.5131	43,811.9261	43,811.9261	43,811.9261	43,811.9261	43,811.9261	43,811.9261	1,121,601.095	553,781.6232
Project fees	GBP CLIENTS (EUR)	invoice currency / average rate	55,136.991	37,598.1291	34,845.1926	30,839.6499	33,793.2944	42,692.8861	55,726.7889	59,057.6328	50,671.3772	37,436.3222	15,454.3645	0	0	0	0	3,731.3	9,622.8263	13,157.742	14,336.0473	13,157.742	9,622.8263	3,731.3	0	0	453,252.6289	67,359.7839
Time and materials	GBP CLIENTS (EUR)	invoice currency / average rate	23,639.441	20,794.9842	21,308.262	17,149.4425	18,843.9324	20,506.6975	15,909.147	22,918.3166	18,669.5106	24,688.2876	22,881.8275	18,365.6773	22,881.8275	21,978.5975	23,785.0575	22,580.7508	22,580.7508	20,774.2908	16,860.294	20,473.2141	23,785.0575	24,688.2876	22,881.8275	18,365.6773	245,675.5263	261,635.633
Media management fees	GBP CLIENTS (EUR)	invoice currency / average rate	5,952.1049	5,479.4376	6,115.1082	7,156.9948	6,489.0048	5,696.7843	5,588.2271	7,010.2206	5,557.1822	6,112.9004	7,502.1959	6,668.6186	4,723.6048	4,723.6048	5,279.3231	4,445.7457	4,445.7457	4,223.4584	3,778.8839	4,001.1712	4,445.7457	4,890.3203	6,001.7567	5,334.8949	75,328.7793	56,294.2554
Production recharged	GBP CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	4,830	6,440	2,325.5556	1,788.8889	715.5556	0	0	0	0	0	0	0	0	0	0	0	0	0	16,100	0
Revenue	GBP CLIENTS (EUR)		170,994.9275	149,955.7647	148,247.1713	141,622.3524	145,657.3713	168,954.2047	182,781.9651	196,464.588	174,333.9806	167,136.7542	143,664.2986	122,144.651	77,563.9387	76,660.7087	79,022.887	77,348.3137	83,239.84	86,009.0044	78,787.1512	81,444.0534	81,665.5556	77,121.834	72,695.5103	67,512.4983	1,911,958.0294	939,071.2954
Media spend rebilled	GBP CLIENTS (EUR)		59,521.072	54,794.33	61,151.0931	71,569.9708	64,890.0016	56,967.8311	55,882.2707	70,102.2415	55,571.8217	61,129.0039	75,021.9593	66,686.186	47,236.0484	47,236.0484	52,793.2306	44,457.4574	44,457.4574	42,234.5845	37,788.8388	40,011.7116	44,457.4574	48,903.2031	60,017.5674	53,348.9488	753,287.7818	562,942.5538
VAT on invoices	GBP CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash received	GBP CLIENTS (EUR)		172,463.17	302,527.7704	158,536.4377	226,595.7984	265,649.122	171,088.074	261,480.4541	240,778.9536	88,152.6172	217,202.8516	256,239.1047	221,963.0005	211,577.335	174,866.4484	129,189.4632	110,919.3608	128,987.2327	146,093.1838	101,766.1061	118,968.0703	140,635.5121	94,046.8288	122,725.6275	154,544.4516	2,582,677.3544	1,634,319.6203
Written off	GBP CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivables at the month-end rate	GBP CLIENTS (EUR)		324,748.4646	172,070.5809	254,842.2144	291,635.6595	183,482.1789	264,594.1656	257,253.1201	199,301.8178	381,390.0777	382,677.7769	362,125.7272	316,669.768	259,056.1619	192,149.7547	176,130.0031	231,641.2689	207,256.5505	164,583.7168	222,859.3772	195,104.453	154,185.3274	228,680.8544	227,002.808	184,363.9969	316,669.768	184,363.9969
Contract assets at the month-end rate	GBP CLIENTS (EUR)		29,440.8104	62,324.4323	56,603.4687	17,170.0317	36,049.0181	20,571.4219	38,027.1581	81,232.2646	19,827.5104	56,722.5707	22,881.8275	18,365.6773	22,881.8275	21,978.5975	23,785.0575	22,580.7508	22,580.7508	27,078.2239	16,860.294	27,327.023	40,261.6927	24,688.2876	22,881.8275	18,365.6773	18,365.6773	18,365.6773
Contract liabilities at the month-end rate	GBP CLIENTS (EUR)		36,030.4779	17,117.4255	41,078.8525	51,209.2352	17,296.4496	26,644.8514	57,828.5441	17,513.5438	6,560.0389	33,679.8919	16,839.946	0	33,679.8919	16,839.946	0	43,420.5487	20,325.7657	0	33,247.8467	13,471.9568	0	26,943.9135	13,471.9568	0	0	0
Net client position (receivables + contract assets - contract liabilities)	GBP CLIENTS (EUR)		318,158.797	217,277.5876	270,366.8306	257,596.456	202,234.7474	258,520.7362	237,451.7342	263,020.5386	394,657.5492	405,720.4556	368,167.6088	335,035.4453	248,258.0975	197,288.4062	199,915.0606	210,801.471	209,511.5356	191,661.9406	206,471.8245	208,959.5192	194,447.0201	226,425.2284	236,412.6787	202,729.6742	335,035.4453	202,729.6742
FX GAIN / (LOSS) ON REVALUATION	GBP CLIENTS (EUR)	closing - opening - flows at average rates	2,120.6134	-3,103.5337	2,227.4164	633.1006	-259.9595	1,452.0269	1,747.2164	-219.0714	-10,116.1746	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-5,518.3656	0
Retainer fees	USD CLIENTS (EUR)	invoice currency / average rate	9,294.8583	9,273.3097	9,440.8445	31,896.5517	31,697.0787	32,120.8438	32,344.071	32,061.0026	30,680.3407	30,680.3407	30,680.3407	30,680.3407	33,789.8347	33,789.8347	33,789.8347	28,400.0451	28,400.0451	28,400.0451	26,575.8086	26,575.8086	26,575.8086	26,575.8086	26,575.8086	26,575.8086	310,849.9231	346,024.4912
Project fees	USD CLIENTS (EUR)	invoice currency / average rate	0	5,757.5198	17,952.8988	24,660.0431	31,771.5412	31,626.8947	26,681.4634	26,498.6872	20,464.0209	8,994.0399	15,547.4699	34,204.4339	37,152.6949	22,918.1224	9,581.8481	9,581.8481	7,370.6524	2,948.261	0	0	0	0	0	0	244,159.0128	89,553.4269
Time and materials	USD CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	USD CLIENTS (EUR)	invoice currency / average rate	5,145.7518	5,251.2393	6,412.5134	6,804.0517	7,230.3093	6,730.9141	7,076.3757	7,039.461	6,044.8563	6,649.3419	8,160.556	7,253.8276	5,138.1279	5,138.1279	5,742.6135	6,044.8563	6,044.8563	5,742.6135	4,110.5023	4,352.2965	4,835.8851	5,319.4736	6,528.4448	5,803.0621	79,799.1982	64,800.8597
Production recharged	USD CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	0	0	0	0	5,250	11,550	11,550	5,250	0	0	0	0	0	0	0	0	0	0	16,800	16,800
Revenue	USD CLIENTS (EUR)		14,440.6101	20,282.0688	33,806.2567	63,360.6466	70,698.9292	70,478.6527	66,101.91	65,599.1508	57,189.2179	46,323.7226	59,638.3667	83,688.6022	87,630.6574	67,096.0849	49,114.2963	44,026.7496	41,815.5538	37,090.9196	30,686.3109	30,928.1052	31,411.6937	31,895.2822	33,104.2535	32,378.8707	651,608.1341	517,178.7778
Media spend rebilled	USD CLIENTS (EUR)		57,175.0222	58,347.0747	71,250.1395	75,600.569	80,336.8029	74,787.8896	78,626.4347	78,216.2298	67,165.0702	73,881.5772	90,672.8447	80,598.0842	57,090.3097	57,090.3097	63,806.8167	67,165.0702	67,165.0702	63,806.8167	45,672.2477	48,358.8505	53,732.0561	59,105.2618	72,538.2758	64,478.4674	886,657.7386	720,009.5524
VAT on invoices	USD CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash received	USD CLIENTS (EUR)		91,337.7244	122,374.6839	99,282.2383	108,132.819	105,239.8441	85,004.1063	174,841.9074	130,935.67	61,224.6058	112,119.6716	117,654.6828	163,894.7946	155,463.643	135,572.997	172,121.9893	131,119.4145	99,678.7685	115,700.3327	101,609.9716	111,720.1804	87,154.017	77,822.7572	82,215.3528	88,072.1469	1,372,042.7482	1,358,251.5708
Written off	USD CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	13,681.7736	0	0	0	0	0	0	0	0	0	0	0	13,681.7736
Receivables at the month-end rate	USD CLIENTS (EUR)		193,247.8731	198,739.1868	191,704.2529	194,476.8757	223,675.2491	316,774.39	257,694.4449	241,673.9307	284,621.6824	340,057.3018	387,017.5027	353,204.9606	357,051.5698	338,916.2138	270,133.4893	256,544.6557	258,475.8587	252,665.4582	227,414.0453	194,980.8206	192,970.5535	206,148.3403	229,575.5168	238,360.7079	353,204.9606	238,360.7079
Contract assets at the month-end rate	USD CLIENTS (EUR)		0	0	0	0	11,971.7966	0	11,661.5063	37,921.7403	47,349.9912	0	0	19,900.7615	14,303.6724	0	7,960.3046	1,621.5435	8,992.196	0	0	0	0	0	0	0	19,900.7615	0
Contract liabilities at the month-end rate	USD CLIENTS (EUR)		0	47,581.8975	30,659.7756	5,680.1914	0	15,033.3684	0	0	0	0	14,303.6724	0	8,992.196	1,621.5435	0	0	0	0	0	0	0	0	0	0	0	0
Net client position (receivables + contract assets - contract liabilities)	USD CLIENTS (EUR)		193,247.8731	151,157.2893	161,044.4773	188,796.6843	235,647.0457	301,741.0216	269,355.9512	279,595.6709	331,971.6735	340,057.3018	372,713.8304	373,105.7221	362,363.0462	337,294.6703	278,093.7939	258,166.1992	267,468.0547	252,665.4582	227,414.0453	194,980.8206	192,970.5535	206,148.3403	229,575.5168	238,360.7079	373,105.7221	238,360.7079
FX GAIN / (LOSS) ON REVALUATION	USD CLIENTS (EUR)	closing - opening - flows at average rates	-2,921.3113	1,654.9565	4,113.0302	-3,076.1895	1,054.4734	5,831.5399	-2,271.5077	-2,639.9909	-10,753.6797	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-9,008.679	0
Retainer fees	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	198,790.6958	185,290.6958	185,290.6958	185,290.6958	132,498.3411	132,498.3411	128,998.3411	122,990.5623	122,990.5623	124,253.5582	118,387.7347	118,387.7347	118,387.7347	115,187.7347	115,187.7347	115,187.7347	2,243,951.0181	1,464,956.1144
Project fees	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	88,944.625	54,647.8052	31,001.8345	39,673.1839	49,183.9449	34,949.3724	32,522.5981	54,977.1481	68,351.1083	79,316.0771	78,768.3436	68,182.0383	72,832.9003	64,496.9296	49,728	59,136	813,972.5017	712,444.4608
Time and materials	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	33,303.601	29,595.2242	40,155.662	36,895.9525	37,446.0124	38,717.0875	29,519.827	38,965.4466	35,472.7951	42,129.6715	39,047.0126	31,340.3654	39,047.0126	37,505.6832	40,588.342	38,533.2361	38,533.2361	35,450.5772	28,771.483	34,936.8008	40,588.342	42,129.6715	39,047.0126	31,340.3654	432,588.6578	446,471.7625
Media management fees	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	19,530.4067	19,335.0268	21,595.5016	23,771.4365	23,099.434	22,018.8784	21,094.5728	22,676.7917	20,278.0385	22,305.8423	27,375.352	24,333.6462	16,933.3927	16,933.3927	18,284.3066	18,135.2021	18,135.2021	17,228.4419	14,387.2962	15,233.6077	16,926.2308	17,826.8539	21,878.4116	19,447.4769	267,414.9275	211,349.8151
Production recharged	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	0	0	0	0	0	0	4,830	6,440	2,325.5556	1,788.8889	5,965.5556	11,550	11,550	5,250	0	0	0	0	0	0	0	0	0	0	32,900	16,800
REVENUE	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	361,734.5251	382,711.3088	345,811.71	306,162.9037	288,680.4504	292,187.8912	249,212.6912	227,136.7893	220,393.5878	234,636.1486	248,010.1088	256,248.6545	240,314.8575	236,740.1815	248,735.2079	239,641.1897	225,841.1589	225,111.5771	3,790,827.1051	2,852,022.1528
Media spend rebilled	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	197,458.8042	195,290.5747	219,059.5025	241,000.8898	234,907.7945	223,392.8507	214,762.2655	230,207.1313	205,536.8919	226,090.5811	277,474.804	246,644.2703	172,181.8581	172,181.8581	186,026.0473	184,702.5275	184,702.5275	175,467.4012	145,579.0865	154,142.5622	171,269.5135	180,476.4649	221,493.8432	196,883.4162	2,711,826.3604	2,145,107.1061
VAT on invoices	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	9,338.0736	10,169.7602	11,582.1669	10,620.1375	7,345.5345	7,754.7679	8,125.3116	8,515.2002	8,406.0713	8,179.8761	7,563.7923	7,435.3185	8,215.0957	8,967.5906	10,180.4133	9,338.1343	120,708.651	100,027.1062
Cash received	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	450,108.2645	643,490.2843	442,682.5761	496,148.6874	597,758.2161	484,125.6903	618,579.1316	602,097.4437	241,050.7851	517,608.5123	580,842.5168	609,254.9399	555,489.5499	484,609.4022	462,891.4029	411,149.3883	417,799.1812	460,029.7371	399,765.7724	431,514.975	438,468.2776	366,580.9705	416,350.8901	474,744.3483	6,283,747.048	5,319,393.8957
Written off	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	0	0	0	0	0	0	0	0	0	0	0	0	0	13,681.7736	0	0	0	0	0	0	0	0	0	0	0	13,681.7736
Receivables	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	732,784.4552	703,983.3115	607,049.1513	912,272.8043	1,026,606.7785	1,040,082.3513	925,973.2278	859,755.0415	746,140.4344	690,248.7752	749,103.679	748,400.1403	684,901.4169	742,791.9586	681,775.7328	613,970.8738	740,188.7381	775,635.9656	704,923.4353	925,973.2278	704,923.4353
Contract assets	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	56,471.5504	71,124.6723	75,450.8687	36,916.5417	66,622.8948	38,781.8119	79,499.3444	137,974.4649	104,563.343	74,163.9546	39,047.0126	51,241.1269	60,350.685	42,536.9332	48,548.6467	48,890.7797	47,525.4321	41,754.5104	41,907.483	42,686.906	62,035.3476	50,865.6715	39,047.0126	31,340.3654	51,241.1269	31,340.3654
Contract liabilities	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	68,030.4779	80,699.323	71,738.6281	88,889.4266	55,026.4496	45,288.2198	89,828.5441	33,513.5438	6,560.0389	65,679.8919	47,143.6183	5,031.25	74,672.0879	34,461.4895	32,928	75,420.5487	50,032.1361	896.2963	65,247.8467	38,207.9568	0	52,543.9135	35,007.9568	0	5,031.25	0
FX GAIN / (LOSS)	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	-800.6979	-1,448.5772	6,340.4465	-2,443.0889	794.5139	7,283.5668	-524.2913	-2,859.0624	-20,869.8542	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-14,527.0446	0
Gross billings ex VAT (fees, media and recharges)	TOTALS, ALL CURRENCIES (EUR)	revenue + media spend rebilled	482,249.7418	458,766.4182	500,028.2106	546,540.7887	557,316.2949	579,747.2781	576,496.7906	612,918.4401	551,348.6018	532,253.4848	566,155.2544	538,832.1615	421,394.5493	399,318.6474	406,419.6351	419,338.6761	432,712.6363	431,716.0557	385,893.9439	390,882.7437	420,004.7214	420,117.6546	447,335.0021	421,994.9933	6,502,653.4655	4,997,129.2589
Share of revenue invoiced in GBP	EXPOSURE (memo)		60.04%	56.91%	52.76%	46.35%	45.18%	47.41%	50.53%	51.33%	50.41%	54.59%	49.77%	41.8%	31.12%	33.75%	35.86%	32.97%	33.56%	33.56%	32.78%	34.4%	32.83%	32.18%	32.19%	29.99%	50.44%	32.93%
Share of revenue invoiced in USD	EXPOSURE (memo)		5.07%	7.7%	12.03%	20.74%	21.93%	19.78%	18.27%	17.14%	16.54%	15.13%	20.66%	28.64%	35.16%	29.54%	22.28%	18.76%	16.86%	14.47%	12.77%	13.06%	12.63%	13.31%	14.66%	14.38%	17.19%	18.13%
EUR impact of a 5% weaker pound and dollar on the month-end GBP and USD positions	EXPOSURE (memo)	position x (1/1.05 - 1)	-24,352.6986	-17,544.5179	-20,543.3956	-21,256.8162	-20,851.514	-26,679.1313	-24,133.6993	-25,838.8671	-34,601.3916	-35,513.2265	-35,280.0685	-33,721.008	-29,077.1973	-25,456.337	-22,762.3264	-22,331.7938	-22,713.3138	-21,158.4476	-20,661.2319	-19,235.2543	-18,448.4559	-20,598.7414	-22,189.9141	-21,004.3039	-33,721.008	-21,004.3039

PEOPLE: PAYROLL, STAFF TABLE, BONUS PROVISION AND PAYROLL TAXES (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Redundancy compensation (one month average wage per leaver)	DELIVERY PAYROLL	capacity cut x average salary at the last actual month x pay inflation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17,188.6667	0	0	0	0	0	0	0	0	0	0	17,188.6667
Delivery team gross pay (incl. any redundancy compensation)	DELIVERY PAYROLL	A: payroll; F: headcount x salary x pay inflation + redundancy	133,124	132,557	134,790	139,333	132,804	132,502	136,778	137,521	135,700	135,700	135,700	135,700	141,806.5	141,806.5	141,806.5	124,617.8333	124,617.8333	124,617.8333	124,617.8333	124,617.8333	124,617.8333	124,617.8333	124,617.8333	124,617.8333	1,622,209	1,546,980
Employer social tax and unemployment insurance	DELIVERY PAYROLL	gross x (33% + 0.8%)	44,995.912	44,804.266	45,559.02	47,094.554	44,887.752	44,785.676	46,230.964	46,482.098	45,866.6	45,866.6	45,866.6	45,866.6	47,930.597	47,930.597	47,930.597	42,120.8277	42,120.8277	42,120.8277	42,120.8277	42,120.8277	42,120.8277	42,120.8277	42,120.8277	42,120.8277	548,306.642	522,879.24
DELIVERY PAYROLL COST	DELIVERY PAYROLL		178,119.912	177,361.266	180,349.02	186,427.554	177,691.752	177,287.676	183,008.964	184,003.098	181,566.6	181,566.6	181,566.6	181,566.6	189,737.097	189,737.097	189,737.097	166,738.661	166,738.661	166,738.661	166,738.661	166,738.661	166,738.661	166,738.661	166,738.661	166,738.661	2,170,515.642	2,069,859.24
Founder and chief executive (executive creative director)	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	7,800	2016-04-30
Operations and finance manager	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	4,900	2019-02-28
New business director	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,400	2021-09-30
People and office manager	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,000	2020-08-31
Marketing and communications lead	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,300	2023-03-31
Planned hire: head of delivery	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5,600	2027-04-30
Gross pay per staff table	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	sum of roles	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	292,800	305,976
Leadership, new business and operations gross pay	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	A: payroll; F: staff table	24,576	24,425	24,105	24,554	24,215	24,402	24,337	24,453	24,400	24,400	24,400	24,400	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	25,498	292,667	305,976
Employer social tax and unemployment insurance	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)		8,306.688	8,255.65	8,147.49	8,299.252	8,184.67	8,247.876	8,225.906	8,265.114	8,247.2	8,247.2	8,247.2	8,247.2	8,618.324	8,618.324	8,618.324	8,618.324	8,618.324	8,618.324	8,618.324	8,618.324	8,618.324	8,618.324	8,618.324	8,618.324	98,921.446	103,419.888
LEADERSHIP, NEW BUSINESS AND OPERATIONS PAYROLL COST	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)		32,882.688	32,680.65	32,252.49	32,853.252	32,399.67	32,649.876	32,562.906	32,718.114	32,647.2	32,647.2	32,647.2	32,647.2	34,116.324	34,116.324	34,116.324	34,116.324	34,116.324	34,116.324	34,116.324	34,116.324	34,116.324	34,116.324	34,116.324	34,116.324	391,588.446	409,395.888
Leadership, new business and operations headcount	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	A: payroll; F: active roles in the staff table	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5
Leadership hires in the month	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Delivery headcount	HEADCOUNT	Utilisation	33	33	33	34	32	32	33	33	33	33	33	33	33	33	29	29	29	29	29	29	29	29	29	29	33	29
TOTAL HEADCOUNT	HEADCOUNT		38	38	38	39	37	37	38	38	38	38	38	38	38	38	34	34	34	34	34	34	34	34	34	34	38	34
Accrual rate (share of gross pay)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	A: actual rate; F: scenario	5%	5%	5%	5%	5%	5%	5%	5%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	3.33%	0%
Bonus accrued (P&L)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	gross pay x rate x (1 + employer taxes)	10,550.13	10,502.0958	10,630.0755	10,964.0403	10,504.5711	10,496.8776	10,778.5935	10,836.0606	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	85,262.4444	0
Prior-year bonus paid (provision utilised)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	A: payroll; F: March, provision at the prior December	0	0	131,500	0	0	0	0	0	0	0	0	0	0	0	85,262.4444	0	0	0	0	0	0	0	0	0	131,500	85,262.4444
BONUS PROVISION (to balance sheet)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	opening + accrued - utilised	142,050.13	152,552.2258	31,682.3013	42,646.3416	53,150.9127	63,647.7903	74,426.3838	85,262.4444	85,262.4444	85,262.4444	85,262.4444	85,262.4444	85,262.4444	85,262.4444	0	0	0	0	0	0	0	0	0	0	85,262.4444	0
Gross pay, all staff (excl. bonus)	PAYROLL TAXES (TSD), NET PAY		157,700	156,982	158,895	163,887	157,019	156,904	161,115	161,974	160,100	160,100	160,100	160,100	167,304.5	167,304.5	167,304.5	150,115.8333	150,115.8333	150,115.8333	150,115.8333	150,115.8333	150,115.8333	150,115.8333	150,115.8333	150,115.8333	1,914,876	1,852,956
Withheld: unemployment insurance, pension and income tax	PAYROLL TAXES (TSD), NET PAY	gross x 3.6% + income tax on (gross - 3.6% - EUR 700 x heads)	33,270.216	33,092.0946	33,566.6716	34,651.087	33,255.2735	33,226.7443	34,117.4092	34,330.5099	33,865.608	33,865.608	33,865.608	33,865.608	35,652.9004	35,652.9004	36,268.9004	32,004.7359	32,004.7359	32,004.7359	32,004.7359	32,004.7359	32,004.7359	32,004.7359	32,004.7359	32,004.7359	404,972.4381	395,617.3245
Employer social tax and unemployment insurance	PAYROLL TAXES (TSD), NET PAY		53,302.6	53,059.916	53,706.51	55,393.806	53,072.422	53,033.552	54,456.87	54,747.212	54,113.8	54,113.8	54,113.8	54,113.8	56,548.921	56,548.921	56,548.921	50,739.1517	50,739.1517	50,739.1517	50,739.1517	50,739.1517	50,739.1517	50,739.1517	50,739.1517	50,739.1517	647,228.088	626,299.128
Bonus paid: gross	PAYROLL TAXES (TSD), NET PAY	utilised / (1 + employer taxes)	0	0	98,281.0164	0	0	0	0	0	0	0	0	0	0	0	63,723.8	0	0	0	0	0	0	0	0	0	98,281.0164	63,723.8
Bonus paid: withheld taxes	PAYROLL TAXES (TSD), NET PAY	gross x (3.6% + 22% x 96.4%)	0	0	24,381.5546	0	0	0	0	0	0	0	0	0	0	0	15,808.6003	0	0	0	0	0	0	0	0	0	24,381.5546	15,808.6003
Bonus paid: employer taxes	PAYROLL TAXES (TSD), NET PAY	utilised - gross	0	0	33,218.9836	0	0	0	0	0	0	0	0	0	0	0	21,538.6444	0	0	0	0	0	0	0	0	0	33,218.9836	21,538.6444
TSD taxes: opening	PAYROLL TAXES (TSD), NET PAY		86,983.07	86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	87,979.408	87,979.408	87,979.408	92,201.8214	92,201.8214	130,165.0661	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876
TSD taxes: accrued	PAYROLL TAXES (TSD), NET PAY	withheld + employer taxes, salaries and bonus	86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	87,979.408	87,979.408	87,979.408	92,201.8214	92,201.8214	130,165.0661	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	1,109,801.0642	1,059,263.6972
TSD taxes: paid (prior month, by the 10th)	PAYROLL TAXES (TSD), NET PAY		-86,983.07	-86,572.816	-86,152.0106	-144,873.7197	-90,044.893	-86,327.6955	-86,260.2963	-88,574.2792	-89,077.7219	-87,979.408	-87,979.408	-87,979.408	-87,979.408	-92,201.8214	-92,201.8214	-130,165.0661	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-82,743.8876	-1,108,804.7262	-1,064,499.2176
TSD TAXES PAYABLE (to balance sheet)	PAYROLL TAXES (TSD), NET PAY		86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	87,979.408	87,979.408	87,979.408	92,201.8214	92,201.8214	130,165.0661	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	82,743.8876	87,979.408	82,743.8876
Net salaries paid (month end)	PAYROLL TAXES (TSD), NET PAY	gross - withheld	124,429.784	123,889.9054	125,328.3284	129,235.913	123,763.7265	123,677.2557	126,997.5908	127,643.4901	126,234.392	126,234.392	126,234.392	126,234.392	131,651.5996	131,651.5996	131,035.5996	118,111.0974	118,111.0974	118,111.0974	118,111.0974	118,111.0974	118,111.0974	118,111.0974	118,111.0974	118,111.0974	1,509,903.5619	1,457,338.6755
Net bonus paid (March)	PAYROLL TAXES (TSD), NET PAY	bonus gross - withheld	0	0	73,899.4619	0	0	0	0	0	0	0	0	0	0	0	47,915.1997	0	0	0	0	0	0	0	0	0	73,899.4619	47,915.1997
Payroll cost (incl. bonus) and freelancers / net revenue	PEOPLE RATIOS		79.57%	85.95%	81.27%	77.49%	70.04%	69.02%	80%	68.95%	65.44%	72.13%	77.54%	79.58%	96.11%	103.21%	104.18%	88.18%	83.43%	81.74%	91.44%	88.33%	83.06%	86.21%	91.48%	93.62%	75.09%	90.64%
Net revenue per head, annualised	PEOPLE RATIOS	net revenue x 12 / headcount	89,933.9803	83,202.8979	88,726.9604	94,012.2766	104,564.9191	115,574.4089	112,905.6395	119,087.7817	108,565.1014	96,191.7942	89,485.4931	89,013.2814	75,442.1657	70,247.144	77,785.9722	82,812.7583	87,532.9796	90,440.7016	84,817.0085	83,555.3582	87,788.8969	84,579.2434	79,708.6443	79,451.1448	99,272.0445	82,013.5015

NEW BUSINESS, RENEWALS AND REVENUE VISIBILITY (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Retainers in their current term	FEE REVENUE BY SECURITY (EUR)	Retainers	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	198,790.6958	185,290.6958	185,290.6958	185,290.6958	110,638.8471	110,638.8471	96,638.8471	58,239.7428	58,239.7428	45,329.1175	16,000	16,000	16,000	0	0	0	2,243,951.0181	527,725.1443
Retainers after renewal (renewal-weighted)	FEE REVENUE BY SECURITY (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	18,750	18,750	29,250	58,891.3255	58,891.3255	68,574.2945	92,037.5885	92,037.5885	92,037.5885	104,837.5885	104,837.5885	104,837.5885	0	843,732.4764
Pipeline retainers (win-weighted)	FEE REVENUE BY SECURITY (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	3,109.494	3,109.494	3,109.494	5,859.494	5,859.494	10,350.1462	10,350.1462	10,350.1462	10,350.1462	10,350.1462	10,350.1462	10,350.1462	0	93,498.4937
Signed projects	FEE REVENUE BY SECURITY (EUR)	Projects	65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	88,944.625	54,647.8052	31,001.8345	34,204.4339	34,204.4339	15,547.4699	0	0	0	0	0	0	0	0	0	0	808,503.7517	49,751.9038
Pipeline projects (win-weighted)	FEE REVENUE BY SECURITY (EUR)	Projects	0	0	0	0	0	0	0	0	0	0	0	5,468.75	14,979.511	19,401.9024	32,522.5981	54,977.1481	68,351.1083	79,316.0771	78,768.3436	68,182.0383	72,832.9003	64,496.9296	49,728	59,136	5,468.75	662,692.5569
Time and materials and media fees (run-rate base)	FEE REVENUE BY SECURITY (EUR)	FX	52,834.0077	48,930.2511	61,751.1635	60,667.389	60,545.4465	60,735.9659	50,614.3998	61,642.2382	55,750.8336	64,435.5138	66,422.3646	55,674.0116	55,980.4053	54,439.0759	58,872.6486	56,668.4382	56,668.4382	52,679.0192	43,158.7791	50,170.4085	57,514.5728	59,956.5254	60,925.4242	50,787.8423	700,003.5854	657,821.5776
FEE REVENUE	FEE REVENUE BY SECURITY (EUR)		284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	356,904.5251	376,271.3088	343,486.1544	304,374.0148	282,714.8948	280,637.8912	237,662.6912	221,886.7893	220,393.5878	234,636.1486	248,010.1088	256,248.6545	240,314.8575	236,740.1815	248,735.2079	239,641.1897	225,841.1589	225,111.5771	3,757,927.1051	2,835,222.1528
Share of fee revenue from pipeline (not yet won)	FEE REVENUE BY SECURITY (EUR)		0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	1.95%	7.61%	10.15%	16.17%	25.93%	29.92%	34.99%	37.08%	33.17%	33.44%	31.23%	26.6%	30.87%	0.15%	26.67%
Signed project fees still to earn	BACKLOG	Projects	74,720.8136	203,419.2598	319,901.796	266,042.8103	302,799.593	276,919.8899	275,084.0736	164,561.4833	169,605.9774	114,958.1722	83,956.3377	49,751.9038	15,547.4699	0	0	0	0	0	0	0	0	0	0	0	49,751.9038	0
Pipeline project fees still to earn (win-weighted)	BACKLOG	Projects	0	0	0	0	0	0	0	0	836,161.3069	836,161.3069	836,161.3069	830,692.5569	815,713.046	796,311.1436	763,788.5454	708,811.3973	640,460.289	561,144.2119	482,375.8683	414,193.83	341,360.9296	276,864	227,136	168,000	830,692.5569	168,000
Retainer fees, monthly run-rate (EUR)	BACKLOG	Retainers	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	198,790.6958	185,290.6958	185,290.6958	185,290.6958	132,498.3411	132,498.3411	128,998.3411	122,990.5623	122,990.5623	124,253.5582	118,387.7347	118,387.7347	118,387.7347	115,187.7347	115,187.7347	115,187.7347	186,995.9182	122,079.6762

KPI DASHBOARD
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Net revenue	GROWTH AND MARGIN	PL	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	357,534.5251	377,111.3088	343,789.4877	304,607.3482	283,370.7282	281,875.3912	238,900.1912	222,449.2893	220,393.5878	234,636.1486	248,010.1088	256,248.6545	240,314.8575	236,740.1815	248,735.2079	239,641.1897	225,841.1589	225,111.5771	3,761,827.1051	2,837,022.1528
Net revenue growth vs same month prior year	GROWTH AND MARGIN														-16.11%	-15.57%	-21.56%	-23.21%	-23.08%	-28.09%	-32.79%	-37.22%	-27.65%	-21.33%	-20.3%	-20.14%		-24.58%
Delivery contribution %	GROWTH AND MARGIN	PL	35.68%	30.44%	33.99%	36.85%	43.27%	43.08%	32.12%	42.6%	44.06%	38.59%	33.99%	32%	18.17%	12.12%	11.3%	26.36%	30.33%	31.58%	22.76%	26.08%	30.65%	28.02%	23.63%	21.53%	37.59%	23.79%
EBITDA % of net revenue	GROWTH AND MARGIN	PL	8.86%	-0.24%	3.39%	10.1%	16.66%	19%	10.13%	22.41%	24.47%	16.48%	10.22%	8.11%	-11.07%	-22.18%	-20.39%	-3.42%	2.16%	4.32%	-6.31%	-3.42%	2.57%	-1.13%	-7.31%	-9.5%	13.11%	-5.98%
People cost % of net revenue	GROWTH AND MARGIN	PL	79.57%	85.95%	81.27%	77.49%	70.04%	69.02%	80%	68.95%	65.44%	72.13%	77.54%	79.58%	96.11%	103.21%	104.18%	88.18%	83.43%	81.74%	91.44%	88.33%	83.06%	86.21%	91.48%	93.62%	75.09%	90.64%
EBITDA	GROWTH AND MARGIN	PL	25,230.3776	-629.3483	9,527.9225	30,847.5426	53,724.5274	67,693.0978	36,214.5416	84,497.6362	84,122.4505	50,193.5482	28,956.9282	22,852.0567	-26,441.7298	-49,333.7552	-44,948.3332	-8,014.8909	5,359.0693	11,058.454	-15,165.3679	-8,108.2232	6,391.7229	-2,702.2953	-16,502.3261	-21,384.2325	493,231.2809	-169,791.908
Net revenue per head, annualised	GROWTH AND MARGIN	People	89,933.9803	83,202.8979	88,726.9604	94,012.2766	104,564.9191	115,574.4089	112,905.6395	119,087.7817	108,565.1014	96,191.7942	89,485.4931	89,013.2814	75,442.1657	70,247.144	77,785.9722	82,812.7583	87,532.9796	90,440.7016	84,817.0085	83,555.3582	87,788.8969	84,579.2434	79,708.6443	79,451.1448	99,272.0445	82,013.5015
Utilisation of productive hours (own staff)	UTILISATION AND REALISATION	Utilisation	62.46%	60.78%	59.53%	65.44%	74.32%	82.5%	85.66%	82.35%	76.23%	62.72%	61.61%	75.8%	55.03%	53.85%	56.03%	62.32%	65.46%	72.36%	80.01%	68.58%	62.5%	58.06%	58.2%	71.14%	70.06%	62.77%
Realisation (fee revenue / standard value)	UTILISATION AND REALISATION	Utilisation	85.23%	84.44%	84.84%	85.58%	84.41%	84.16%	84.09%	85.56%	79.36%	83.78%	85.6%	84.11%	80.78%	80.33%	80.57%	81.05%	81.49%	81.74%	80.99%	81.01%	81.4%	81.32%	82.61%	81.98%	84.18%	81.27%
Effective fee per hour (EUR)	UTILISATION AND REALISATION	Utilisation	90.8917	89.9634	90.5066	91.5448	90.3662	90.0317	89.9208	91.5636	84.9213	89.6757	91.4814	89.8707	86.1004	85.516	85.8458	86.4089	86.9566	87.2287	86.3259	86.3499	86.8625	86.7878	88.0253	87.321	89.9878	86.6475
Retainer overservicing %	UTILISATION AND REALISATION	Retainers	15.31%	12.78%	13.98%	12.74%	12.94%	11.05%	12.65%	12.09%	12.64%	12.07%	12.07%	12.07%	10.53%	10.53%	10.61%	10.69%	10.69%	11.11%	11.22%	11.22%	11.22%	11.4%	11.4%	11.4%	12.65%	10.99%
Freelancer share of billable hours	UTILISATION AND REALISATION	Utilisation	0.01%	0.01%	0.01%	0.01%	0.01%	7.95%	20.23%	10.06%	1.73%	0%	0%	2.27%	0%	0%	0%	0.17%	0.16%	1.43%	6.65%	1.35%	0%	0%	0%	2.37%	4.01%	1.02%
Headcount	UTILISATION AND REALISATION	People	38	38	38	39	37	37	38	38	38	38	38	38	38	38	34	34	34	34	34	34	34	34	34	34	38	34
Retainer share of fee revenue	CLIENTS AND NEW BUSINESS		58.49%	63.14%	59.23%	61.98%	58.69%	57.02%	57.18%	54.24%	57.87%	60.88%	65.54%	66.02%	55.75%	59.71%	58.53%	52.42%	49.59%	48.49%	49.26%	50.01%	47.6%	48.07%	51%	51.17%	59.71%	51.67%
Largest client share of net revenue	CLIENTS AND NEW BUSINESS	Clients	26.41%	24.78%	20.68%	15.85%	15.03%	13.63%	16.36%	19.74%	21.46%	23.62%	20.31%	20.22%	23.86%	16.93%	10.04%	17.76%	20.05%	23.08%	24.61%	21.01%	23.77%	24.68%	22.02%	26.27%	19.84%	21.17%
Active retainers (weighted)	CLIENTS AND NEW BUSINESS	Retainers	9	9	9	10	10	11	11	11	11	10	10	10	8.7	8.7	8.45	8.25	8.25	8.2	7.8	7.8	7.8	7.6	7.6	7.6	10.0833	8.0625
Share of fee revenue not yet won	CLIENTS AND NEW BUSINESS	Pipeline	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	1.95%	7.61%	10.15%	16.17%	25.93%	29.92%	34.99%	37.08%	33.17%	33.44%	31.23%	26.6%	30.87%	0.15%	26.67%
Signed project fees still to earn	CLIENTS AND NEW BUSINESS	Pipeline	74,720.8136	203,419.2598	319,901.796	266,042.8103	302,799.593	276,919.8899	275,084.0736	164,561.4833	169,605.9774	114,958.1722	83,956.3377	49,751.9038	15,547.4699	0	0	0	0	0	0	0	0	0	0	0	49,751.9038	0
Debtor days	WORKING CAPITAL, FX AND CASH	Receivables	36.5025	30.1891	34.2928	40.222	34.023	38.7409	37.7131	32.4522	50.0831	54.9793	53.0068	49.058	49.6661	49.703	49.1438	54.1486	52.7425	48.6612	53.2868	50.7705	46.7078	54.7061	53.7825	47.6699	49.058	47.6699
Contract assets (unbilled work)	WORKING CAPITAL, FX AND CASH	BS	56,471.5504	71,124.6723	75,450.8687	36,916.5417	66,622.8948	38,781.8119	79,499.3444	137,974.4649	104,563.343	74,163.9546	39,047.0126	51,241.1269	60,350.685	42,536.9332	48,548.6467	48,890.7797	47,525.4321	41,754.5104	41,907.483	42,686.906	62,035.3476	50,865.6715	39,047.0126	31,340.3654	51,241.1269	31,340.3654
Contract liabilities (invoiced in advance)	WORKING CAPITAL, FX AND CASH	BS	68,030.4779	80,699.323	71,738.6281	88,889.4266	55,026.4496	45,288.2198	89,828.5441	33,513.5438	6,560.0389	65,679.8919	47,143.6183	5,031.25	74,672.0879	34,461.4895	32,928	75,420.5487	50,032.1361	896.2963	65,247.8467	38,207.9568	0	52,543.9135	35,007.9568	0	5,031.25	0
Media platform payables	WORKING CAPITAL, FX AND CASH	BS	194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	205,536.8919	226,090.5811	277,474.804	246,644.2703	172,181.8581	172,181.8581	186,026.0473	184,702.5275	184,702.5275	175,467.4012	145,579.0865	154,142.5622	171,269.5135	180,476.4649	221,493.8432	196,883.4162	246,644.2703	196,883.4162
FX gains / (losses) on client balances	WORKING CAPITAL, FX AND CASH	PL	-800.6979	-1,448.5772	6,340.4465	-2,443.0889	794.5139	7,283.5668	-524.2913	-2,859.0624	-20,869.8542	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-14,527.0446	0
Share of revenue invoiced in GBP and USD	WORKING CAPITAL, FX AND CASH	FX	65.11%	64.61%	64.79%	67.09%	67.11%	67.19%	68.8%	68.48%	66.95%	69.72%	70.42%	70.45%	66.29%	63.29%	58.14%	51.73%	50.42%	48.04%	45.55%	47.47%	45.46%	45.49%	46.85%	44.37%	67.63%	51.06%
Cash at bank	WORKING CAPITAL, FX AND CASH	BS	492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	80,801.1249	117,731.087	200,179.907	252,820.3371	271,113.2525	292,403.9226	208,915.3123	131,311.862	114,310.4174	131,460.876	92,451.8815	112,607.1231	139,871.0338	78,487.9102	56,929.2598	50,030.884	252,820.3371	50,030.884
Cash headroom over the minimum buffer	WORKING CAPITAL, FX AND CASH		142,554.9305	325,877.6302	229,312.2071	170,521.0509	250,557.8301	-77,512.5247	-71,836.015	17,888.0493	-269,198.8751	-232,268.913	-149,820.093	-97,179.6629	-78,886.7475	-57,596.0774	-141,084.6877	-218,688.138	-235,689.5826	-218,539.124	-257,548.1185	-237,392.8769	-210,128.9662	-271,512.0898	-293,070.7402	-299,969.116	-97,179.6629	-299,969.116
Operating cash flow, trailing three months	WORKING CAPITAL, FX AND CASH	CF	12,154.9305	199,877.6302	109,412.2071	46,666.1205	-57,119.8001	-9,324.7318	54,742.934	65,130.2192	-173,486.3504	-144,232.898	-150,308.1423	189,419.2122	170,908.1655	109,876.0156	9,872.9752	-86,023.3905	-124,315.5053	-59,676.4363	-21,081.9805	16,074.7057	26,188.1578	3,814.0286	-37,899.8633	-72,062.1498

client register
Code	Client (fictional)	Country	Invoice currency	VAT class (EE = Estonian VAT, EU = EU reverse charge, XX = outside the EU)	VAT rate on invoices	Client since	Sector	Days to collect (from month-end invoicing)	Days to collect incl. scenario slip	T&M base hours per month	T&M rate FY2026 (invoice currency per hour)	T&M write-off, base	T&M from (month)	T&M write-off, YTD actual	T&M write-off, forecast	Media spend base per month (invoice currency)	Media management fee %	Media management hours per month	Opening receivable 31-Dec-25 (invoice currency, incl. VAT)	Opening contract position 31-Dec-25 (+ unbilled / - deferred)	Closing rate 31-Dec-25	Opening receivable (EUR)	Opening contract position (EUR)
HAL	Halvergate Money Ltd	United Kingdom	GBP	XX	0	2,021	Consumer fintech app	35	50	0	0	0		n/a	0	0	0%	0	53,779.03	19,551	0.8726	61,630.793	22,405.455
THV	Thornbury & Vale Home Ltd	United Kingdom	GBP	XX	0	2,022	Homeware brand, direct to consumer	30	45	0	0	0		n/a	0	55,000	10%	60	68,453.78	0	0.8726	78,448.0633	0
PEL	Pellworth Health Ltd	United Kingdom	GBP	XX	0	2,026	Digital health	30	45	0	0	0		n/a	0	0	0%	0	0	0	0.8726	0	0
ASH	Ashgrove Mobility Ltd	United Kingdom	GBP	XX	0	2,024	Mobility software	45	60	220	88	0.09	2023-06-30	0.0851	0.1251	0	0%	0	27,412.16	14,195.39	0.8726	31,414.3479	16,267.9234
TWL	Tidewell Learning Ltd	United Kingdom	GBP	XX	0	2,025	Education technology	30	45	60	85	0.05	2026-10-31	n/a	0.09	0	0%	0	0	0	0.8726	0	0
RVM	Ravenmoor Travel Ltd	United Kingdom	GBP	XX	0	2,024	Travel booking app	30	45	0	0	0		n/a	0	0	0%	0	19,473.86	22,252.8	0.8726	22,317.0525	25,501.719
MAR	Marlowe Street Coffee Roasters Ltd	United Kingdom	GBP	XX	0	2,026	Specialty coffee	30	45	0	0	0		n/a	0	0	0%	0	0	0	0.8726	0	0
QFS	Quillfield Software Inc.	United States	USD	XX	0	2,026	B2B software	45	60	0	0	0		n/a	0	0	0%	0	0	0	1.175	0	0
HOC	Harrowgate Outdoor Co.	United States	USD	XX	0	2,023	Outdoor equipment brand	60	75	0	0	0		n/a	0	90,000	9%	70	253,672.25	0	1.175	215,891.2766	0
NOR	Norbeck Analytics Inc.	United States	USD	XX	0	2,025	Data analytics software	45	60	0	0	0		n/a	0	0	0%	0	0	0	1.175	0	0
VOL	Voltaro Energie GmbH	Germany	EUR	EU	0	2,023	Energy technology	30	45	0	0	0		n/a	0	0	0%	0	18,099.2	0	1	18,099.2	0
LIN	Lindgrove Retail B.V.	Netherlands	EUR	EU	0	2,024	Fashion retail	30	45	0	0	0		n/a	0	40,000	10%	45	47,504.47	0	1	47,504.47	0
VDH	Veldhaven Fietsen B.V.	Netherlands	EUR	EU	0	2,025	Electric bikes, direct to consumer	30	45	0	0	0		n/a	0	30,000	10%	40	52,537.45	0	1	52,537.45	0
VLM	Van Lienden Mobiliteit B.V.	Netherlands	EUR	EU	0	2,026	Electric mobility	30	45	0	0	0		n/a	0	0	0%	0	0	0	1	0	0
SRV	Sarvivaara Oy	Finland	EUR	EU	0	2,022	Outdoor clothing	21	36	0	0	0		n/a	0	0	0%	0	10,042.96	0	1	10,042.96	0
CAR	Carrigmore Foods DAC	Ireland	EUR	EU	0	2,025	Food brand	30	45	90	98	0.06	2026-03-31	0.0566	0.0966	0	0%	0	0	7,107.89	1	0	7,107.89
TAM	Tammevalla Kodu OÜ	Estonia	EUR	EE	0.24	2,020	Furniture retail	14	29	0	0	0		n/a	0	22,000	12%	30	22,509.09	0	1	22,509.09	0
OTH	Other Estonian clients (11 smaller accounts)	Estonia	EUR	EE	0.24	2,019	Various	20	35	120	92	0.12	2020-12-31	0.1315	0.1715	0	0%	0	7,556.06	7,861.33	1	7,556.06	7,861.33
FER	Ferncliff Robotics Inc.	United States	USD	XX	0		Warehouse robotics (prospect)	45	60	0	0	0		n/a	0	0	0%	0	0	0	1.175	0	0
BRK	Brackenholt Insurance Ltd	United Kingdom	GBP	XX	0		Insurance (prospect)	45	60	0	0	0		n/a	0	0	0%	0	0	0	0.8726	0	0
AUR	Aurelwyn Hotels B.V.	Netherlands	EUR	EU	0		Boutique hotels (prospect)	30	45	0	0	0		n/a	0	0	0%	0	0	0	1	0	0
NEW	New clients not yet identified (FY2027 run-rate)	United Kingdom and EU	EUR	EU	0		Various: sized on the FY2026 win rate	30	45	0	0	0		n/a	0	0	0%	0	0	0	1	0	0

retainer contracts
Contract	Client	Type (rb = brand and content, rp = performance, rd = product design and development)	Currency	Status	Term	Monthly fee (invoice currency)	Scoped hours per month	Start (month)	Current term ends (month)	Renewal or win % Base	Renewal or win % Downside	Renewal or win % Upside	Renewal or win % selected	Billing (M = monthly, Q = quarterly, in advance)	Start month no.	Term end month no.	Overservicing YTD (hours worked / scoped - 1)	Overservicing forecast	Monthly fee at the last actual average rate (EUR)
R-HAL	HAL	rd	GBP	Active	Annual, renews 31-Dec	42,000	430	2023-06-30	2026-12-31	100%	0%	100%	0%	M	-30	12	0.1521	0.1521	49,059.1162
R-THV	THV	rb	GBP	Active	Annual, renews 31-Mar	15,000	180	2022-08-31	2027-03-31	90%	80%	95%	80%	Q	-40	15	0.099	0.099	17,521.1129
R-RVM	RVM	rd	GBP	Active	Annual, renews 30-Jun	18,000	190	2024-06-30	2027-06-30	90%	80%	95%	80%	M	-18	18	0.0941	0.0941	21,025.3355
R-PEL	PEL	rb	GBP	Active	12 months from Jun-26	11,500	140	2026-06-30	2027-05-31	85%	75%	90%	75%	M	6	17	0.066	0.066	13,432.8533
R-QFS	QFS	rd	USD	Active	12 months from Apr-26	26,000	215	2026-04-30	2027-03-31	90%	75%	95%	75%	M	4	15	0.1411	0.1411	22,529.3531
R-HOC	HOC	rp	USD	Active	Annual, renews 30-Jun	11,000	95	2023-11-30	2027-06-30	90%	80%	95%	80%	M	-25	18	0.0736	0.0736	9,531.6494
R-VOL	VOL	rb	EUR	Active	Annual, renews 31-Dec	18,500	190	2023-06-30	2026-12-31	85%	60%	90%	60%	M	-30	12	0.2635	0.2635	18,500
R-LIN	LIN	rp	EUR	Active	Annual, renews 30-Sep	16,000	165	2024-04-30	2027-09-30	90%	80%	95%	80%	Q	-20	21	0.0498	0.0498	16,000
R-VDH	VDH	rp	EUR	Active	Annual, renews 28-Feb	14,000	145	2024-10-31	2027-02-28	85%	75%	90%	75%	M	-14	14	0.0769	0.0769	14,000
R-SRV	SRV	rb	EUR	Ending	Notice received Jun-26, ends 30-Sep-26	13,500	140	2022-03-31	2026-09-30	0%	0%	0%	0%	M	-45	9	0.2008	0.2008	13,500
R-TAM	TAM	rp	EUR	Active	Annual, renews 31-Dec	9,000	95	2020-12-31	2026-12-31	95%	85%	95%	85%	M	-60	12	0.0597	0.0597	9,000
R-FER	FER	rd	USD	Pipeline	Proposal: 12 months from Jan-27	15,000	130	2027-01-31		45%	25%	60%	25%	M	13	999	n/a	0.2	12,997.7037
R-HAL2	HAL	rp	GBP	Pipeline	Proposal: growth marketing pod from Mar-27	12,000	125	2027-03-31		30%	0%	80%	0%	M	15	999	n/a	0.2	14,016.8904
R-AUR	AUR	rb	EUR	Pipeline	Proposal: follows the website project	11,000	110	2027-04-30		40%	25%	55%	25%	M	16	999	n/a	0.2	11,000
R-BRK	BRK	rb	GBP	Pipeline	Proposal: follows the portal project	20,000	210	2027-06-30		35%	20%	50%	20%	M	18	999	n/a	0.2	23,361.4839

project register
Code	Client	Project	Currency	Status at last actual	Start (month)	Planned completion (month)	Fee incl. approved change requests (invoice currency)	Budget hours	Third-party production budget (EUR)	Mark-up on production recharged	Win % Base	Win % Downside	Win % Upside	Win % selected	Opening hours to date	Opening fee revenue to date	Opening fee invoiced to date	Start delay (months, scenario)	Start month no. (effective)	Completion month no. (effective)	Interim milestone month no.	Fee, probability-weighted	Hours to date at last actual	Estimate to complete at last actual (hours)	Overrun applied	Forecast hours at completion	Programme position at last actual	S-curve share at last actual	Production cost to date at last actual	Production cost remaining (weighted)	Fee per hour at completion (invoice currency)	Fee per hour at budget (invoice currency)
P-2505	CAR	Ecommerce website rebuild	EUR	Completed	2025-08-31	2026-02-28	74,000	760	0	0	100%	100%	100%	100%	605	58,907.89	51,800	0	-4	2	-1	74,000	790	0	0	790	1	1	0	0	93.6709	97.3684
P-2506	RVM	Booking app redesign	GBP	Completed	2025-09-30	2026-04-30	120,000	1,250	0	0	100%	100%	100%	100%	606.8	58,252.8	36,000	0	-3	4	1	120,000	1,300	0	0	1,300	1	1	0	0	92.3077	96
P-2507	HAL	Web platform rebuild	GBP	Completed	2025-10-31	2026-03-31	95,000	1,000	0	0	100%	100%	100%	100%	505.8	48,051	28,500	0	-2	3	1	95,000	1,000	0	0	1,000	1	1	0	0	95	95
P-2601	NOR	Marketing website and design system rebuild	USD	In progress	2026-02-28	2026-10-31	226,500	2,300	0	0	100%	100%	100%	100%	0	0	0	0	2	10	6	226,500	2,487.3	462.7	0.15	3,019.405	0.7778	0.8738	0	0	75.0148	98.4783
P-2602	TWL	Learning platform UX and front-end build	GBP	In progress	2026-03-31	2026-09-30	145,000	1,450	0	0	100%	100%	100%	100%	0	0	0	0	3	9	6	145,000	1,409.6	90.4	0.15	1,513.56	0.8571	0.9446	0	0	95.8006	100
P-2603	VLM	Brand identity and website	EUR	In progress	2026-05-31	2026-10-31	96,000	960	0	0	100%	100%	100%	100%	0	0	0	0	5	10	8	96,000	721.6	268.4	0.15	1,030.26	0.6667	0.7407	0	0	93.1804	100
P-2604	MAR	Packaging range and ecommerce site	GBP	In progress	2026-06-30	2026-11-30	56,000	560	14,000	0.15	100%	100%	100%	100%	0	0	0	0	6	11	9	56,000	275.4	284.6	0.15	602.69	0.5	0.5	9,800	4,200	92.9168	100
P-2605	HAL	App onboarding redesign	GBP	In progress	2026-07-31	2026-11-30	85,000	800	0	0	100%	100%	100%	100%	0	0	0	0	7	11	9	85,000	281.9	518.1	0.15	877.715	0.4	0.352	0	0	96.8424	106.25
P-2606	QFS	Product launch campaign (incl. video production)	USD	Contracted	2026-09-30	2026-12-31	120,000	950	30,000	0.12	100%	100%	100%	100%	0	0	0	2	11	14	13	120,000	0	950	0.15	1,092.5	0	0	0	30,000	109.8398	126.3158
PL-01	BRK	Customer portal redesign	GBP	Pipeline	2027-02-28	2027-08-31	240,000	2,300	0	0	40%	25%	55%	25%	0	0	0	2	16	22	19	60,000	0	575	0.15	661.25	0	0	0	0	90.7372	104.3478
PL-02	FER	Brand and website	USD	Pipeline	2026-11-30	2027-04-30	160,000	1,500	0	0	50%	30%	65%	30%	0	0	0	2	13	18	16	48,000	0	450	0.15	517.5	0	0	0	0	92.7536	106.6667
PL-03	VOL	Product launch campaign	EUR	Pipeline	2026-10-31	2027-01-31	70,000	700	0	0	70%	50%	80%	50%	0	0	0	2	12	15	14	35,000	0	350	0.15	402.5	0	0	0	0	86.9565	100
PL-04	AUR	Booking website	EUR	Pipeline	2027-03-31	2027-08-31	110,000	1,100	0	0	35%	20%	45%	20%	0	0	0	2	17	22	20	22,000	0	220	0.15	253	0	0	0	0	86.9565	100
NW-1	NEW	New project wins not yet identified, Q1-27 starts (run-rate)	EUR	Pipeline	2027-01-31	2027-05-31	240,000	2,300	0	0	85%	70%	100%	70%	0	0	0	2	15	19	17	168,000	0	1,610	0.15	1,851.5	0	0	0	0	90.7372	104.3478
NW-2	NEW	New project wins not yet identified, Q2-27 starts (run-rate)	EUR	Pipeline	2027-04-30	2027-08-31	240,000	2,300	0	0	85%	70%	100%	70%	0	0	0	2	18	22	20	168,000	0	1,610	0.15	1,851.5	0	0	0	0	90.7372	104.3478
NW-3	NEW	New project wins not yet identified, Q3-27 starts (run-rate)	EUR	Pipeline	2027-07-31	2027-11-30	240,000	2,300	0	0	85%	70%	100%	70%	0	0	0	2	21	25	23	168,000	0	1,610	0.15	1,851.5	0	0	0	0	90.7372	104.3478
NW-4	NEW	New project wins not yet identified, Q4-27 starts (run-rate)	EUR	Pipeline	2027-10-31	2028-02-29	240,000	2,300	0	0	85%	70%	100%	70%	0	0	0	2	24	28	26	168,000	0	1,610	0.15	1,851.5	0	0	0	0	90.7372	104.3478

client profitability
Client	Currency	Status	Net revenue YTD	Net revenue FY2026	Share of net revenue	Hours FY2026	Standard value FY2026	Realisation	Delivery cost at standard	Contribution	Contribution %	Retainer overservice hours	Share of delivery variance	Share of operating costs	Net contribution	Net margin	Net revenue FY2027	Receivable at last actual (EUR)	Debtor days at last actual
Halvergate Money Ltd	GBP	Active	476,986.7984	727,394.6843	0.1934	7,316.865	805,838.3483	0.9027	394,065.818	333,328.8663	45.83%	784.95	-38,777.2734	-178,022.5702	116,529.0228	0.1602	0	60,375.5137	31.1286
Thornbury & Vale Home Ltd	GBP	Active	188,094.4376	281,295.1185	0.0748	3,093.75	318,308.0625	0.8837	144,535.4561	136,759.6624	48.62%	213.75	-16,395.9824	-68,844.1654	51,519.5147	0.1832	228,061.7043	69,053.393	24.7448
Pellworth Health Ltd	GBP	Active	40,126.8977	91,769.3987	0.0244	1,044.6333	107,127.1483	0.8566	48,600.1029	43,169.2958	47.04%	64.6333	-5,536.2553	-22,459.642	15,173.3986	0.1653	132,333.9087	14,792.0325	33.4904
Ashgrove Mobility Ltd	GBP	Active	161,070.2232	231,494.4531	0.0615	2,547.1848	280,190.3291	0.8262	140,247.2335	91,247.2196	39.42%	0	-13,499.3446	-56,655.9509	21,091.9241	0.0911	205,364.6167	28,307.5845	46.3328
Tidewell Learning Ltd	GBP	Active	157,777.3869	181,769.042	0.0483	1,676.8649	182,260.4823	0.9973	89,083.7244	92,685.3176	50.99%	0	-8,886.9004	-44,486.1541	39,312.2631	0.2163	56,271.0163	0	0
Ravenmoor Travel Ltd	GBP	Active	237,268.8787	318,100.6193	0.0846	3,187.85	350,905.685	0.9065	171,578.1076	146,522.5118	46.06%	214.65	-16,894.6852	-77,851.9434	51,775.8831	0.1628	218,245.6998	20,668.4102	29.8968
Marlowe Street Coffee Roasters Ltd	GBP	Active	33,553.7225	66,134.7133	0.0176	602.69	65,421.9995	1.0109	31,892.2076	34,242.5057	51.78%	0	-3,194.0831	-16,185.8093	14,862.6133	0.2247	0	6,104.8838	18.0211
Quillfield Software Inc.	USD	Active	112,516.439	250,304.9762	0.0665	2,754.31	303,286.0675	0.8253	148,304.8857	102,000.0905	40.75%	273.06	-14,597.0483	-61,259.6382	26,143.404	0.1044	261,753.6976	31,837.6854	43.1668
Harrowgate Outdoor Co.	USD	Active	127,302.7377	191,896.049	0.051	2,063.85	213,171.78	0.9002	96,902.2114	94,993.8376	49.5%	83.85	-10,937.8095	-46,964.6377	37,091.3903	0.1933	163,309.6293	195,607.2008	63.9795
Norbeck Analytics Inc.	USD	Active	164,949.0481	194,407.1089	0.0517	3,019.405	327,756.4128	0.5931	159,776.1553	34,630.9536	17.81%	0	-16,001.9753	-47,579.1945	-28,950.2162	-0.1489	0	14,229.0445	22.2933
Voltaro Energie GmbH	EUR	Active	148,000	227,468.75	0.0605	2,943.6406	302,247.6898	0.7526	137,350.8072	90,117.9428	39.62%	600.75	-15,600.446	-55,670.7003	18,846.7965	0.0829	162,731.25	19,171.34	31.5032
Lindgrove Retail B.V.	EUR	Active	158,048.9	238,788.9	0.0635	2,618.55	269,834.94	0.8849	122,583.9072	116,204.9928	48.66%	98.55	-13,877.5595	-58,441.1938	43,886.2395	0.1838	222,972	31,062.21	16.6882
Veldhaven Fietsen B.V.	EUR	Active	134,349.79	202,904.79	0.0539	2,353.8	242,546.64	0.8366	110,186.264	92,718.526	45.7%	133.8	-12,474.4609	-49,658.9169	30,585.1482	0.1507	158,447.5	37,007.38	26.0552
Van Lienden Mobiliteit B.V.	EUR	Active	69,973.33	96,000	0.0255	1,030.26	111,834.723	0.8584	54,517.6887	41,482.3113	43.21%	0	-5,460.0807	-23,495.0394	12,527.1912	0.1305	0	35,674.26	84.7264
Sarvivaara Oy	EUR	Ending	108,000	121,500	0.0323	1,513.0125	155,159.4319	0.7831	70,390.7876	51,109.2124	42.07%	253.0125	-8,018.5297	-29,735.9092	13,354.7735	0.1099	0	10,590.69	23.8487
Carrigmore Foods DAC	EUR	Active	64,007.71	93,516.8155	0.0249	1,047.4211	114,948.0665	0.8136	57,274.1864	36,242.6291	38.76%	0	-5,551.0294	-22,887.3048	7,804.2949	0.0835	86,051.7203	5,867.45	22.7698
Tammevalla Kodu OÜ	EUR	Active	91,544.86	138,593.26	0.0368	1,568.1	161,632.68	0.8575	73,433.7622	65,159.4978	47.01%	68.1	-8,310.4776	-33,919.3135	22,929.7067	0.1654	116,035.2	19,726.5996	14.7838
Other Estonian clients (11 smaller accounts)	EUR	Active	74,612.99	108,488.4261	0.0288	1,378.2281	151,605.0886	0.7156	75,884.8256	32,603.6005	30.05%	0	-7,304.2112	-26,551.4567	-1,252.0674	-0.0115	98,784.4093	6,973.4732	19.0507
Ferncliff Robotics Inc.	USD	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	77,115.451	0	0
Brackenholt Insurance Ltd	GBP	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	98,794.3497	0	0
Aurelwyn Hotels B.V.	EUR	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	46,750	0	0
New clients not yet identified (FY2027 run-rate)	EUR	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	504,000	0	0
TOTAL			2,548,184.1498	3,761,827.1051	1	41,760.4154	4,464,075.575	0.8427	2,126,608.1315	1,635,218.9736	43.47%	2,789.1058	-221,318.1523	-920,669.5404	493,231.2809	0.1311	2,837,022.1528	607,049.1513

concentration
Measure	Value
Largest client share of net revenue, FY2026	0.1934
Top five clients share of net revenue, FY2026	0.4827
Largest client share of net revenue, FY2027	0.1777

pipeline / opportunities
Opportunity	Client	Description	Value (EUR at the last actual rate)	Win % Base	Win % Downside	Win % Upside	Win % selected	Weighted value	Start
PL-01	BRK	Customer portal redesign	280,337.8071	40%	25%	55%	25%	70,084.4518	2027-04-30
PL-02	FER	Brand and website	138,642.1732	50%	30%	65%	30%	41,592.652	2027-01-31
PL-03	VOL	Product launch campaign	70,000	70%	50%	80%	50%	35,000	2026-12-31
PL-04	AUR	Booking website	110,000	35%	20%	45%	20%	22,000	2027-05-31
NW-1	NEW	New project wins not yet identified, Q1-27 starts (run-rate)	240,000	85%	70%	100%	70%	168,000	2027-03-31
NW-2	NEW	New project wins not yet identified, Q2-27 starts (run-rate)	240,000	85%	70%	100%	70%	168,000	2027-06-30
NW-3	NEW	New project wins not yet identified, Q3-27 starts (run-rate)	240,000	85%	70%	100%	70%	168,000	2027-09-30
NW-4	NEW	New project wins not yet identified, Q4-27 starts (run-rate)	240,000	85%	70%	100%	70%	168,000	2027-12-31
R-FER	FER	Retainer: Proposal: 12 months from Jan-27	155,972.4449	45%	25%	60%	25%	38,993.1112	2027-01-31
R-HAL2	HAL	Retainer: Proposal: growth marketing pod from Mar-27	168,202.6842	30%	0%	80%	0%	0	2027-03-31
R-AUR	AUR	Retainer: Proposal: follows the website project	132,000	40%	25%	55%	25%	33,000	2027-04-30
R-BRK	BRK	Retainer: Proposal: follows the portal project	280,337.8071	35%	20%	50%	20%	56,067.5614	2027-06-30
TOTAL			2,295,492.9164					968,737.7764

pipeline / renewal calendar
Contract	Client	Term	Annual fees (EUR at the last actual rate)	Term ends	Renewal % selected	Expected retained value	Value at risk	Overservicing YTD
R-SRV	SRV	Notice received Jun-26, ends 30-Sep-26	162,000	2026-09-30	0%	0	162,000	0.2008
R-HAL	HAL	Annual, renews 31-Dec	588,709.3948	2026-12-31	0%	0	588,709.3948	0.1521
R-VOL	VOL	Annual, renews 31-Dec	222,000	2026-12-31	60%	133,200	88,800	0.2635
R-TAM	TAM	Annual, renews 31-Dec	108,000	2026-12-31	85%	91,800	16,200	0.0597
R-VDH	VDH	Annual, renews 28-Feb	168,000	2027-02-28	75%	126,000	42,000	0.0769
R-THV	THV	Annual, renews 31-Mar	210,253.3553	2027-03-31	80%	168,202.6842	42,050.6711	0.099
R-QFS	QFS	12 months from Apr-26	270,352.2378	2027-03-31	75%	202,764.1783	67,588.0594	0.1411
R-PEL	PEL	12 months from Jun-26	161,194.2391	2027-05-31	75%	120,895.6793	40,298.5598	0.066
R-RVM	RVM	Annual, renews 30-Jun	252,304.0264	2027-06-30	80%	201,843.2211	50,460.8053	0.0941
R-HOC	HOC	Annual, renews 30-Jun	114,379.7929	2027-06-30	80%	91,503.8343	22,875.9586	0.0736
R-LIN	LIN	Annual, renews 30-Sep	192,000	2027-09-30	80%	153,600	38,400	0.0498
TOTAL			2,449,193.0462			1,289,809.5973	1,159,383.4489

pipeline / new business
Measure	Value
Proposals submitted	19
Value proposed (EUR)	3,520,000
Won (count)	8
Won (EUR)	1,155,000
Lost (count)	8
Lost (EUR)	1,420,000
Still open (count)	3
Win rate on decided proposals (count)	0.5
Win rate on decided proposals (value)	0.4485
Average tenure of clients with active retainers (years)	2.6

Receivables & payables

Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

Receivables ageing
Measure	Value
as at	2026-08-31

Receivables ageing / items
Client (fictional)	Invoice / item	Currency	Group	Amount (currency)	Closing rate	Amount (EUR)	Due date	Days past due	Not yet due	1 to 30	31 to 60	Action / note
Halvergate Money Ltd	Retainer and onboarding project, invoices dated 31-Aug	GBP	GBP clients	32,060.46	0.8565	37,432.818	2026-10-05	0	37,432.818	0	0	35-day terms.
Halvergate Money Ltd	July invoices	GBP	GBP clients	19,649.96	0.8565	22,942.6957	2026-09-04	0	22,942.6957	0	0	Due 4-Sep; paid on 9-Sep per the bank.
Thornbury & Vale Home Ltd	August media and media management fee	GBP	GBP clients	44,357.14	0.8565	51,790.0476	2026-09-30	0	51,790.0476	0	0	Media billed at cost plus 10% management fee.
Thornbury & Vale Home Ltd	July media invoice, balance	GBP	GBP clients	14,785.71	0.8565	17,263.3453	2026-08-30	1	0	17,263.3453	0	Short-paid: client queried two campaign line items; resolved, balance due.
Pellworth Health Ltd	August retainer	GBP	GBP clients	12,669.08	0.8565	14,792.0325	2026-09-30	0	14,792.0325	0	0	Standard 30-day terms.
Ashgrove Mobility Ltd	August time and materials	GBP	GBP clients	13,334.68	0.8565	15,569.1668	2026-10-15	0	15,569.1668	0	0	45-day terms.
Ashgrove Mobility Ltd	July time and materials	GBP	GBP clients	10,910.2	0.8565	12,738.4177	2026-09-15	0	12,738.4177	0	0	45-day terms.
Ravenmoor Travel Ltd	August retainer	GBP	GBP clients	17,702.08	0.8565	20,668.4102	2026-09-30	0	20,668.4102	0	0	Standard 30-day terms.
Veldhaven Fietsen B.V.	August retainer, media and media management fee	EUR	EUR clients	37,007.38	1	37,007.38	2026-09-30	0	37,007.38	0	0	Reverse charge (EU B2B).
Marlowe Street Coffee Roasters Ltd	Deposit balance and August production recharges	GBP	GBP clients	5,228.71	0.8565	6,104.8828	2026-09-30	0	6,104.8828	0	0	Photography and print proofs recharged at cost plus 15%.
Quillfield Software Inc.	August retainer and campaign deposit	USD	USD clients	18,459.49	1.1596	15,918.8427	2026-10-15	0	15,918.8427	0	0	45-day terms; campaign deposit invoiced on signature.
Quillfield Software Inc.	July retainer	USD	USD clients	18,459.49	1.1596	15,918.8427	2026-09-14	0	15,918.8427	0	0	45-day terms.
Harrowgate Outdoor Co.	August media and fees	USD	USD clients	81,657.4	1.1596	70,418.5926	2026-10-30	0	70,418.5926	0	0	60-day terms on media: the agency funds the client media for two months.
Harrowgate Outdoor Co.	July media and fees	USD	USD clients	77,120.88	1.1596	66,506.4505	2026-09-29	0	66,506.4505	0	0	60-day terms.
Harrowgate Outdoor Co.	June media and fees	USD	USD clients	68,047.83	1.1596	58,682.1576	2026-08-29	2	0	58,682.1576	0	Overdue: client finance switched payment runs to monthly; chased weekly.
Norbeck Analytics Inc.	Change request CR-03 (additional page templates), invoiced 29-May	USD	USD clients	16,500	1.1596	14,229.0445	2026-07-13	49	0	0	14,229.0445	Disputed: client finance says CR-03 was inside the original scope. 50% provided in June. Settlement meeting set for October.
Voltaro Energie GmbH	August retainer	EUR	EUR clients	19,171.34	1	19,171.34	2026-09-30	0	19,171.34	0	0	Reverse charge (EU B2B).
Lindgrove Retail B.V.	August media and media management fee	EUR	EUR clients	31,062.21	1	31,062.21	2026-09-30	0	31,062.21	0	0	Reverse charge (EU B2B).
Van Lienden Mobiliteit B.V.	Interim milestone	EUR	EUR clients	35,674.26	1	35,674.26	2026-09-30	0	35,674.26	0	0	Reverse charge (EU B2B).
Sarvivaara Oy	August retainer	EUR	EUR clients	10,590.69	1	10,590.69	2026-09-21	0	10,590.69	0	0	Final month is September; notice received in June.
Carrigmore Foods DAC	August time and materials	EUR	EUR clients	5,867.45	1	5,867.45	2026-09-30	0	5,867.45	0	0	Reverse charge (EU B2B).
Tammevalla Kodu OÜ	August retainer, media and fees incl. 24% VAT	EUR	EUR clients	19,726.6	1	19,726.6	2026-09-14	0	19,726.6	0	0	Estonian client: 24% VAT.
Other Estonian clients (11 smaller accounts)	August invoices, 9 accounts	EUR	EUR clients	5,578.78	1	5,578.78	2026-09-20	0	5,578.78	0	0	Estonian clients: 24% VAT.
Other Estonian clients (11 smaller accounts)	July invoices, 3 accounts	EUR	EUR clients	1,394.7	1	1,394.7	2026-08-20	11	0	1,394.7	0	Chased; two promised in September.

Receivables ageing / totals
Value
TOTAL (EUR)





607,049.1574


515,479.9099
77,340.203
14,229.0445
0
0

Receivables ageing / tie outs
label	values
GBP clients: aging vs ledger	[null, null, null, 170698.02, null, 199301.8167, 199301.8178, 0]
USD clients: aging vs ledger	[null, null, null, 280245.09, null, 241673.9307, 241673.9307, 0]
EUR clients: aging vs ledger	[null, null, null, 166073.41, null, 166073.41, 166073.4028, 0]

Payables ageing
Measure	Value
as at	2026-08-31

Payables ageing / items
Counterparty (fictional)	Item / document	Group	Amount (EUR)	Due date	Not yet due	Action / note
Freelance motion designer (sole trader, Tallinn)	August invoice	Freelancers	5,556.36	2026-09-15	5,556.36	Freelancer payment run on the 15th and at month end.
Kelp & Ink OÜ (illustration)	August invoice	Freelancers	4,546.11	2026-09-15	4,546.11	Freelancer payment run on the 15th and at month end.
Northgrid Dev Collective (Poland)	August development hours, reverse charge	Freelancers	3,788.42	2026-09-20	3,788.42	Freelancer payment run on the 15th and at month end.
Freelance copywriter (sole trader, Tartu)	August invoice	Freelancers	3,030.74	2026-09-10	3,030.74	Freelancer payment run on the 15th and at month end.
Other freelancers (9 invoices)	August invoices	Freelancers	8,334.54	2026-09-20	8,334.54	Freelancer payment run on the 15th and at month end.
Social media advertising platform (Ireland)	August spend invoice, reverse charge	Media platforms	129,277.03	2026-09-30	129,277.03	Monthly invoice, 30 days. Client media funded before clients pay.
Search advertising platform (Ireland)	August spend invoice, reverse charge	Media platforms	105,772.12	2026-09-30	105,772.12	Monthly invoice, 30 days. Client media funded before clients pay.
Helkvalgus Stuudio OÜ (photography)	Packaging photography, August	Production suppliers	4,285.03	2026-09-30	4,285.03	Recharged to Marlowe Street at cost plus 15%.
Kaldvere Trükk OÜ (print proofs)	Print proofs, August	Production suppliers	2,626.31	2026-09-30	2,626.31	Recharged to Marlowe Street at cost plus 15%.
Veskimere Kinnisvara OÜ (landlord)	September rent, invoiced in advance	Overheads	7,727.66	2026-09-18	7,727.66
Software subscriptions (14 vendors)	August renewals	Overheads	5,454.82	2026-09-18	5,454.82
Travel agency and airlines	London and New York client visits	Overheads	3,636.55	2026-09-18	3,636.55
Sundry overhead suppliers (12 invoices)	Office, IT and professional fees	Overheads	5,909.4	2026-09-18	5,909.4

Payables ageing / totals
Value
TOTAL


289,945.09


289,945.09
0
0
0
0

Payables ageing / tie outs
label	values
Freelancers: aging vs schedule	[null, null, 25256.17, "Ledger balance", 25256.1655, "Difference", 0, null]
Media platforms: aging vs schedule	[null, null, 235049.15, "Ledger balance", 235049.1532, "Difference", 0, null]
Production suppliers: aging vs schedule	[null, null, 6911.34, "Ledger balance", 6911.34, "Difference", 0, null]
Overheads: aging vs schedule	[null, null, 22728.43, "Ledger balance", 22728.426, "Difference", 0, null]

TRADE RECEIVABLES, SPECIFIC PROVISION AND COLLECTIONS (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
EUR clients	RECEIVABLES BY INVOICE CURRENCY (EUR)	FX	180,833.5988	149,576.8344	133,915.0084	208,320.0968	194,481.1148	151,415.8996	189,035.7464	166,073.4028	246,261.0443	303,871.6998	290,939.1214	256,098.4992	243,647.3097	215,074.4659	243,985.2828	260,917.7545	282,667.7311	267,652.2419	292,518.536	291,690.4592	266,814.9929	305,359.5435	319,057.6409	282,198.7304	256,098.4992	282,198.7304
GBP clients	RECEIVABLES BY INVOICE CURRENCY (EUR)	FX	324,748.4646	172,070.5809	254,842.2144	291,635.6595	183,482.1789	264,594.1656	257,253.1201	199,301.8178	381,390.0777	382,677.7769	362,125.7272	316,669.768	259,056.1619	192,149.7547	176,130.0031	231,641.2689	207,256.5505	164,583.7168	222,859.3772	195,104.453	154,185.3274	228,680.8544	227,002.808	184,363.9969	316,669.768	184,363.9969
USD clients	RECEIVABLES BY INVOICE CURRENCY (EUR)	FX	193,247.8731	198,739.1868	191,704.2529	194,476.8757	223,675.2491	316,774.39	257,694.4449	241,673.9307	284,621.6824	340,057.3018	387,017.5027	353,204.9606	357,051.5698	338,916.2138	270,133.4893	256,544.6557	258,475.8587	252,665.4582	227,414.0453	194,980.8206	192,970.5535	206,148.3403	229,575.5168	238,360.7079	353,204.9606	238,360.7079
TRADE RECEIVABLES, GROSS	RECEIVABLES BY INVOICE CURRENCY (EUR)		698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	732,784.4552	703,983.3115	607,049.1513	912,272.8043	1,026,606.7785	1,040,082.3513	925,973.2278	859,755.0415	746,140.4344	690,248.7752	749,103.679	748,400.1403	684,901.4169	742,791.9586	681,775.7328	613,970.8738	740,188.7381	775,635.9656	704,923.4353	925,973.2278	704,923.4353
Written off on settlement (EUR)	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)	FX	0	0	0	0	0	0	0	0	0	0	0	0	0	13,681.7736	0	0	0	0	0	0	0	0	0	0	0	13,681.7736
Charge / (release) to the P&L	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)	A: ledger; F: write-off less provision held	0	0	0	0	0	7,240.65	0	0	0	0	0	0	0	6,441.1236	0	0	0	0	0	0	0	0	0	0	7,240.65	6,441.1236
Provision held	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)	opening + charge - written off	0	0	0	0	0	7,240.65	7,240.65	7,240.65	7,240.65	7,240.65	7,240.65	7,240.65	7,240.65	0	0	0	0	0	0	0	0	0	0	0	7,240.65	0
TRADE RECEIVABLES, NET (to balance sheet)	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)		698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	725,543.8052	696,742.6615	599,808.5013	905,032.1543	1,019,366.1285	1,032,841.7013	918,732.5778	852,514.3915	746,140.4344	690,248.7752	749,103.679	748,400.1403	684,901.4169	742,791.9586	681,775.7328	613,970.8738	740,188.7381	775,635.9656	704,923.4353	918,732.5778	704,923.4353
Invoiced incl. VAT (EUR at average rates)	INVOICED, COLLECTED AND DAYS		582,000.0902	466,043.0471	495,663.8385	612,860.2722	504,193.8857	607,994.9225	590,224.6249	507,765.1433	563,235.0439	631,942.4864	594,318.0897	495,145.8164	489,271.3636	384,676.5687	406,999.7437	470,004.2921	417,095.6425	396,531.0137	457,656.314	370,498.7493	370,663.4187	492,798.8348	451,798.1175	404,031.818	6,651,387.2607	5,112,025.8767
Collected (EUR)	INVOICED, COLLECTED AND DAYS	FX	450,108.2645	643,490.2843	442,682.5761	496,148.6874	597,758.2161	484,125.6903	618,579.1316	602,097.4437	241,050.7851	517,608.5123	580,842.5168	609,254.9399	555,489.5499	484,609.4022	462,891.4029	411,149.3883	417,799.1812	460,029.7371	399,765.7724	431,514.975	438,468.2776	366,580.9705	416,350.8901	474,744.3483	6,283,747.048	5,319,393.8957
Debtor days (receivables / average monthly invoicing of the last three months x 30.4)	INVOICED, COLLECTED AND DAYS		36.5025	30.1891	34.2928	40.222	34.023	38.7409	37.7131	32.4522	50.0831	54.9793	53.0068	49.058	49.6661	49.703	49.1438	54.1486	52.7425	48.6612	53.2868	50.7705	46.7078	54.7061	53.7825	47.6699	49.058	47.6699
Disputed balance (EUR, memo)	INVOICED, COLLECTED AND DAYS	Clients	0	0	0	0	14,170.3882	14,481.306	14,366.5651	14,229.0445	13,681.7736	13,681.7736	13,681.7736	13,681.7736	13,681.7736	0	0	0	0	0	0	0	0	0	0	0	13,681.7736	0

TRADE PAYABLES BY SUPPLIER GROUP (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Invoices received (incl. VAT)	FREELANCERS		5,548.8617	6,489.6133	5,617.2192	7,159.631	5,710.1381	27,987.73	65,413.1379	35,594.1344	11,785.548	6,028	6,028	11,080.0499	6,299.26	6,299.26	6,299.26	6,636.3397	6,636.3397	9,419.2602	20,697.1274	9,044.652	6,299.26	6,299.26	6,299.26	10,850.2078	194,442.0634	101,079.4869
Opening balance	FREELANCERS		21,400	3,639.1517	4,316.465	3,396.7242	4,501.8351	3,824.9532	20,329.9532	47,535.2511	25,256.1655	7,857.032	4,018.6667	4,018.6667	7,386.6999	4,199.5067	4,199.5067	4,199.5067	4,424.2265	4,424.2265	6,279.5068	13,798.0849	6,029.768	4,199.5067	4,199.5067	4,199.5067
Paid	FREELANCERS	A: bank; F: opening + invoices - closing at days payable	23,309.71	5,812.3	6,536.96	6,054.52	6,387.02	11,482.73	38,207.84	57,873.22	29,184.6815	9,866.3653	6,028	7,712.0166	9,486.4533	6,299.26	6,299.26	6,411.6199	6,636.3397	7,563.9799	13,178.5493	16,812.969	8,129.5214	6,299.26	6,299.26	7,816.2426	208,455.3635	101,232.715
CLOSING BALANCE	FREELANCERS		3,639.1517	4,316.465	3,396.7242	4,501.8351	3,824.9532	20,329.9532	47,535.2511	25,256.1655	7,857.032	4,018.6667	4,018.6667	7,386.6999	4,199.5067	4,199.5067	4,199.5067	4,424.2265	4,424.2265	6,279.5068	13,798.0849	6,029.768	4,199.5067	4,199.5067	4,199.5067	7,233.4718	7,386.6999	7,233.4718
Invoices received (incl. VAT)	MEDIA PLATFORMS (reverse charge)		197,458.8042	195,290.5747	219,059.5025	241,000.8898	234,907.7945	223,392.8507	214,762.2655	230,207.1313	205,536.8919	226,090.5811	277,474.804	246,644.2703	172,181.8581	172,181.8581	186,026.0473	184,702.5275	184,702.5275	175,467.4012	145,579.0865	154,142.5622	171,269.5135	180,476.4649	221,493.8432	196,883.4162	2,711,826.3604	2,145,107.1061
Opening balance	MEDIA PLATFORMS (reverse charge)		158,000	194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	205,536.8919	226,090.5811	277,474.804	246,644.2703	172,181.8581	172,181.8581	186,026.0473	184,702.5275	184,702.5275	175,467.4012	145,579.0865	154,142.5622	171,269.5135	180,476.4649	221,493.8432
Paid	MEDIA PLATFORMS (reverse charge)	A: bank; F: opening + invoices - closing at days payable	160,513.37	194,305.35	194,859.5	210,132.63	243,567.19	255,796.31	232,273.71	187,582.6	235,049.1532	205,536.8919	226,090.5811	277,474.804	246,644.2703	172,181.8581	172,181.8581	186,026.0473	184,702.5275	184,702.5275	175,467.4012	145,579.0865	154,142.5622	171,269.5135	180,476.4649	221,493.8432	2,623,182.0902	2,194,867.9602
CLOSING BALANCE	MEDIA PLATFORMS (reverse charge)		194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	205,536.8919	226,090.5811	277,474.804	246,644.2703	172,181.8581	172,181.8581	186,026.0473	184,702.5275	184,702.5275	175,467.4012	145,579.0865	154,142.5622	171,269.5135	180,476.4649	221,493.8432	196,883.4162	246,644.2703	196,883.4162
Invoices received (incl. VAT)	PRODUCTION SUPPLIERS (incl. 24% VAT)		0	0	0	0	0	0	5,208	6,944	2,507.5556	1,928.8889	6,584.0556	12,787.5	12,787.5	5,812.5	0	0	0	0	0	0	0	0	0	0	35,960	18,600
Opening balance	PRODUCTION SUPPLIERS (incl. 24% VAT)		0	0	0	0	0	0	0	5,191.28	6,911.34	2,507.5556	1,928.8889	6,584.0556	12,787.5	12,787.5	5,812.5	0	0	0	0	0	0	0	0	0
Paid	PRODUCTION SUPPLIERS (incl. 24% VAT)	A: bank; F: opening + invoices - closing at days payable	0	0	0	0	0	0	16.72	5,223.94	6,911.34	2,507.5556	1,928.8889	6,584.0556	12,787.5	12,787.5	5,812.5	0	0	0	0	0	0	0	0	0	23,172.5	31,387.5
CLOSING BALANCE	PRODUCTION SUPPLIERS (incl. 24% VAT)		0	0	0	0	0	0	5,191.28	6,911.34	2,507.5556	1,928.8889	6,584.0556	12,787.5	12,787.5	5,812.5	0	0	0	0	0	0	0	0	0	0	12,787.5	0
Invoices received (incl. VAT)	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)		38,093.864	43,256.144	49,862.704	43,541.56	49,112.036	40,907.06	41,309.124	37,772.784	40,045.1	40,045.1	40,045.1	40,045.1	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	504,035.676	494,957.436
Opening balance	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)		24,300	24,604.464	26,075.648	33,979.422	24,448.882	27,001.648	22,879.108	25,041.492	22,728.426	24,027.06	24,027.06	24,027.06	24,027.06	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718
Paid	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)	A: bank; F: opening + invoices - closing at days payable	37,789.4	41,784.96	41,958.93	53,072.1	46,559.27	45,029.6	39,146.74	40,085.85	38,746.466	40,045.1	40,045.1	40,045.1	40,525.6412	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	41,246.453	504,308.616	494,236.6242
CLOSING BALANCE	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)		24,604.464	26,075.648	33,979.422	24,448.882	27,001.648	22,879.108	25,041.492	22,728.426	24,027.06	24,027.06	24,027.06	24,027.06	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,747.8718	24,027.06	24,747.8718
TRADE PAYABLES (to balance sheet)	TOTALS		223,189.0499	226,322.7718	257,506.8076	279,949.6383	273,166.1269	253,145.1276	270,192.645	289,945.0847	239,928.5394	256,065.1966	312,104.5863	290,845.5302	213,916.7366	206,941.7366	214,973.4258	213,874.6258	213,874.6258	206,494.7798	184,125.0432	184,920.202	200,216.892	209,423.8433	250,441.2217	228,864.7598	290,845.5302	228,864.7598

13-week cash forecast

Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

CLOSING CASH · EUR

13-week cash forecast
Measure	2026-09-18	2026-09-25	2026-10-02	2026-10-09	2026-10-16	2026-10-23	2026-10-30	2026-11-06	2026-11-13	2026-11-20	2026-11-27	2026-12-04	2026-12-11
GBP clients (converted to EUR on receipt)	7,735.5958	7,735.5958	19,538.5128	49,045.8052	49,045.8052	49,045.8052	49,045.8052	58,254.3645	59,789.1244	59,789.1244	59,789.1244	54,264.2976	50,120.6775
USD clients (converted to EUR on receipt)	6,089.1179	6,089.1179	11,582.8971	25,317.3452	25,317.3452	25,317.3452	25,317.3452	27,147.7002	27,452.7593	27,452.7593	27,452.7593	32,913.1837	37,008.502
EUR clients	7,355.7334	7,355.7334	17,401.5785	42,516.1911	42,516.1911	42,516.1911	42,516.1911	47,463.4874	48,288.0368	48,288.0368	48,288.0368	49,520.311	50,444.5166
VAT refund credited against the TSD payment (10th)	0	0	0	0	144.492	0	0	0	0	0	0	0	0
TOTAL RECEIPTS	21,180.4471	21,180.4471	48,522.9884	116,879.3415	117,023.8335	116,879.3415	116,879.3415	132,865.5522	135,529.9206	135,529.9206	135,529.9206	136,697.7923	137,573.6961
Net salaries (last banking day)	0	0	-126,234.392	0	0	0	0	-126,234.392	0	0	0	-126,234.392	0
Net bonus (March only)	0	0	0	0	0	0	0	0	0	0	0	0	0
Payroll taxes, TSD (10th)	0	0	0	0	-87,979.408	0	0	0	-87,979.408	0	0	0	-87,979.408
Freelancers (runs on the 15th and at month end)	-6,766.6721	-6,766.6721	-5,469.8769	-2,227.8889	-2,227.8889	-2,227.8889	-2,227.8889	-1,523.8698	-1,406.5333	-1,406.5333	-1,406.5333	-1,597.8989	-1,741.4231
Media platforms (monthly invoices, 30 days)	0	-235,049.1532	0	0	0	0	-205,536.8919	0	0	0	-226,090.5811	0	0
Production suppliers	-1,612.7042	-1,612.7042	-1,313.7094	-566.2222	-566.2222	-566.2222	-566.2222	-466.6667	-450.0741	-450.0741	-450.0741	-1,042.4444	-1,486.7222
Overhead suppliers (rent in advance, software, travel)	-8,942.8559	-8,942.8559	-8,971.309	-9,042.4419	-9,042.4419	-9,042.4419	-9,042.4419	-9,300.7974	-9,343.8567	-9,343.8567	-9,343.8567	-9,171.6197	-9,042.4419
VAT, monthly return (20th)	0	0	0	0	0	-1,803.3295	0	0	0	-3,251.3269	0	0	0
Income tax on distributions (10th)	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan instalment (25th)	0	-3,392	0	0	0	0	-3,378	0	0	0	-3,364	0	0
Capex incl. VAT	-810.1579	-810.1579	-802.6842	-784	-784	-784	-784	-806.4	-810.1333	-810.1333	-810.1333	-795.2	-784
Dividends	0	0	0	0	0	0	0	0	0	0	0	0	0
TOTAL PAYMENTS	-18,132.3901	-256,573.5433	-142,791.9716	-12,620.5531	-100,599.9611	-14,423.8826	-221,535.445	-138,332.1259	-99,990.0054	-15,261.9243	-241,465.1785	-138,841.555	-101,033.9953
NET CASH FLOW FOR THE WEEK	3,048.057	-235,393.0962	-94,268.9832	104,258.7884	16,423.8724	102,455.4589	-104,656.1035	-5,466.5738	35,539.9152	120,267.9963	-105,935.2579	-2,143.7627	36,539.7008
Opening cash	437,203.3725	440,251.4295	204,858.3334	110,589.3502	214,848.1386	231,272.011	333,727.4699	229,071.3664	223,604.7926	259,144.7078	379,412.7041	273,477.4462	271,333.6835
CLOSING CASH	440,251.4295	204,858.3334	110,589.3502	214,848.1386	231,272.011	333,727.4699	229,071.3664	223,604.7926	259,144.7078	379,412.7041	273,477.4462	271,333.6835	307,873.3843
Minimum cash buffer (board policy)	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000
HEADROOM / (SHORTFALL) VS BUFFER	90,251.4295	-145,141.6666	-239,410.6498	-135,151.8614	-118,727.989	-16,272.5301	-120,928.6336	-126,395.2074	-90,855.2922	29,412.7041	-76,522.5538	-78,666.3165	-42,126.6157
Status	OK	BELOW BUFFER	BELOW BUFFER	BELOW BUFFER	BELOW BUFFER	BELOW BUFFER	BELOW BUFFER	BELOW BUFFER	BELOW BUFFER	OK	BELOW BUFFER	BELOW BUFFER	BELOW BUFFER

13-week control
Measure	Value
low	110,589.3502
lowwk	2026-10-02
short	-239,410.6498
fac	300,000
fachead	60,589.3502
taxwk	268,992.8804

Reconciliation to monthly model
Measure	Value
rec close	307,873.3843
rec dec	-55,053.0472
rec implied	252,820.3371
rec bs	252,820.3371
rec diff	0

Schedules & controls

Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

Integrity checks
Measure	Value
overall status	OK

Integrity checks / checks
check	proves	value	tolerance	status
Balance sheet balances in every month	Total assets less liabilities and equity, all 24 months	0	0.5	OK
Cash flow: indirect method equals direct method every month	P&L and balance sheet movements equal the sum of the schedule cash lines	0	0.5	OK
Closing cash on the cash flow equals balance sheet cash	Link integrity	0	0.5	OK
Retained earnings roll: closing = opening + profit - dividends	Equity roll-forward to Dec-27	0	0.5	OK
EBITDA plus FX on the cash flow equals the P&L	Add-backs complete	0	0.5	OK
Opening balance sheet at 31-Dec-25 balances	FY2025 closing balances on Inputs_Actuals and Client_Register	0.0007	0.5	OK
Project revenue in actual months equals % complete x contract value	Ledger revenue agrees with the hours-based method, every project, every actual month	0	0.5	OK
Hours by role equal hours booked to clients, every month	Timesheets by role and by client agree; forecast demand by role keeps every hour	0	0.5	OK
Role mixes sum to 100% for every work type	No hours lost in the role split	0	0	OK
Milestone shares sum to 100%	Every project is fully invoiced	0	0	OK
Percentage complete stays between 0% and 100%	No over-recognition	0	0.0001	OK
Projects finishing within the horizon are fully invoiced by completion	Milestone invoicing reaches the contract value	0	0.5	OK
Net revenue by client equals the P&L, every month	Client blocks and currency totals agree	0	0.5	OK
Client profitability: allocated net contributions equal EBITDA	Delivery variance and operating costs are fully allocated	0	0.5	OK
Client profitability: net revenue equals the P&L		0	0.5	OK
EUR clients show no FX revaluation	Translation logic is neutral where no currency is involved	0	0.5	OK
AR aging: GBP clients tie to the ledger (EUR)	Item listing agrees with the balance at the last actual month	0	0.5	OK
AR aging: USD clients tie to the ledger (EUR)	Item listing agrees with the balance at the last actual month	0	0.5	OK
AR aging: EUR clients tie to the ledger (EUR)	Item listing agrees with the balance at the last actual month	0	0.5	OK
AP aging: freelancers tie to the Payables schedule		0	0.5	OK
AP aging: media platforms tie to the Payables schedule		0	0.5	OK
AP aging: production suppliers tie to the Payables schedule		0	0.5	OK
AP aging: overheads tie to the Payables schedule		0	0.5	OK
13-week cash forecast reconciles to the monthly balance sheet at 31-Dec-26	Weekly phasing distributes exactly the monthly cash lines	0	0.5	OK
Scenario snapshots are current for the selected scenario	Live column equals the stored snapshot	0	0.5	OK
Budget vs actual net revenue bridge reconciles to the P&L variance	Hours plus rate effects equal the net revenue variance	0	0.5	OK
EBITDA walk from budget to actual reconciles	Variances explain the full EBITDA gap	0	0.5	OK
Trade receivables never negative		520,386.602	0	OK
Trade payables never negative		184,125.0432	0	OK
Freelancer hours never negative (every role, every month)		0	0	OK
Specific provision never negative		0	0	OK
Fixed asset net book value never negative		74,116.7778	0	OK
Bank loan never negative		36,000	0	OK
Timeline: months flagged actual equal the last actual month number		0	0.5	OK

Integrity checks / business warnings
item	note	value
Lowest month-end cash in the forecast (selected scenario)	Below the buffer means a facility draw or action	50,030.884
Lowest 13-week closing cash		110,589.3502
Lowest forecast delivery utilisation	Below 70% signals idle capacity	0.5385
Largest client share of FY2027 net revenue	Above 15% is a concentration risk	0.1777
Retainer overservicing, FY2026	Above 10% gives margin away	0.1265
Disputed receivable at the last actual month (EUR)	Settlement risk	14,229.0445

Assumptions
type	label	unit	value	note	base	downside	upside	selected	ytd actual reference
scalar	Company name		Kaldmere Studio OÜ (fictional demonstration company)	All figures fictional. Estonian private limited company (osaühing), financial year = calendar year, reporting currency EUR; clients billed in EUR, GBP and USD.
scalar	Reporting currency		EUR
scalar	Model start month (month end)	date	2026-01-31	24 monthly columns from this month
scalar	Last actual month (month end)	date	2026-08-31	Months up to and including this date are actual (fictional ledger); later months are forecast
scalar	Last actual month number	calc	8
scalar	Scenario selector (1 = Base, 2 = Downside, 3 = Upside)	input	2	Change this cell and every forecast month moves. Base = management case; Downside = worst case; Upside = best case.
scalar	Scenario name	calc	Downside
scalar	Minimum cash buffer (board policy)	EUR	350,000	Used by the 13-week cash forecast and the CFO report
scalar	Undrawn overdraft facility available	EUR	300,000	Committed revolving overdraft, undrawn; first lever if the buffer is breached
scalar	Aged receivables and payables: as-at date	calc	2026-08-31
scalar	VAT: standard rate	rate	0.24	From 1-Jul-25 (EMTA, Standard VAT rate). Charged to Estonian clients only: services to EU and non-EU business clients are taxed where the client is established (0% in Estonia, KMD field 3; VAT Act s10)
scalar	Income tax on distributions (22/78 of the net dividend)	rate	0.2821	EMTA: 22% of the gross distribution from 2025, unchanged for 2026; due by the 10th of the month after payment. Retained profit is not taxed.
scalar	Social tax, employer	rate	0.33	EMTA 2026; minimum monthly base EUR 886 (every salary in the model is above it)
scalar	Unemployment insurance, employer	rate	0.008	EMTA: fixed for 2025 to 2028
scalar	Unemployment insurance, employee (withheld)	rate	0.016	EMTA: fixed for 2025 to 2028
scalar	Funded pension, employee (withheld)	rate	0.02	EMTA: 2% default; 4% or 6% by election (model assumes 2% for all staff)
scalar	Income tax withheld on salaries	rate	0.22	EMTA 2026: 22%; the planned rise to 24% did not take effect
scalar	Basic exemption per employee per month	EUR	700	EMTA 2026: EUR 700 a month, no longer tapered by income
scalar	Freelancers: share invoicing with Estonian VAT	share	0.4	VAT-registered Estonian freelancers; input VAT recoverable
scalar	Freelancers: share from other EU countries (reverse charge)	share	0.45	The rest (15%) are individuals below the VAT threshold
scalar	Software: share bought from foreign vendors (reverse charge)	share	0.75	Self-assessed output and input VAT net to zero
scalar	Target utilisation used to set the standard cost rate	share	0.75	Standard cost rate recovers role payroll at this utilisation of productive hours
scalar	Maximum sustainable utilisation (above it work goes to freelancers)	share	0.88
scalar	Average productive hours per FTE per month (Timeline profile)	calc	144.8333
scalar	Rate card, FY2026: strategy and account management (EUR per hour)	EUR/hour	125
scalar	Rate card, FY2026: creative and design (EUR per hour)	EUR/hour	105
scalar	Rate card, FY2026: content, copy and video (EUR per hour)	EUR/hour	90
scalar	Rate card, FY2026: development and qa (EUR per hour)	EUR/hour	115
scalar	Rate card, FY2026: performance marketing (EUR per hour)	EUR/hour	100
scalar	Rate card, FY2026: project and delivery management (EUR per hour)	EUR/hour	95
scalar	Monthly gross salary, FY2026: strategy and account management	EUR	4,600	Average per head for the role
scalar	Monthly gross salary, FY2026: creative and design	EUR	3,900	Average per head for the role
scalar	Monthly gross salary, FY2026: content, copy and video	EUR	3,200	Average per head for the role
scalar	Monthly gross salary, FY2026: development and qa	EUR	4,900	Average per head for the role
scalar	Monthly gross salary, FY2026: performance marketing	EUR	3,700	Average per head for the role
scalar	Monthly gross salary, FY2026: project and delivery management	EUR	3,600	Average per head for the role
scalar	Freelancer cost per hour: strategy and account management	EUR/hour	85
scalar	Freelancer cost per hour: creative and design	EUR/hour	65
scalar	Freelancer cost per hour: content, copy and video	EUR/hour	55
scalar	Freelancer cost per hour: development and qa	EUR/hour	75
scalar	Freelancer cost per hour: performance marketing	EUR/hour	65
scalar	Freelancer cost per hour: project and delivery management	EUR/hour	60
scalar	Standard cost rate, FY2026: strategy and account management (EUR per billable hour)	calc	56.661	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: creative and design (EUR per billable hour)	calc	48.0387	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: content, copy and video (EUR per billable hour)	calc	39.4163	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: development and qa (EUR per billable hour)	calc	60.3563	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: performance marketing (EUR per billable hour)	calc	45.5751	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: project and delivery management (EUR per billable hour)	calc	44.3434	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Specialist freelancers per month (illustration, motion, voice-over)	EUR	5,500	Forecast base, inflated from FY2027
scalar	Pay inflation applied from FY2027	rate	0.045	Company assumption for the FY2027 pay review; information needed: the approved review
scalar	Overhead inflation applied from FY2027	rate	0.03
scalar	Bonus accrual rate used in actual months (share of gross pay)	share	0.05	Accrued with employer taxes; paid in March for the prior year
scalar	Recruitment agency fee per hire	EUR	4,500
scalar	Equipment per new hire	EUR	2,600
scalar	IT replacement cycle, capex per month	EUR	2,800
scalar	Office fit-out extension (desks for growth)	EUR	36,000
scalar	Office fit-out extension: month	month	2027-03-31
scalar	Depreciation: IT equipment, useful life	years	3
scalar	Depreciation: office fit-out and furniture, useful life	years	5
scalar	Fixed-fee projects: deposit invoiced at start	share	0.3	Standard terms; the balance on completion
scalar	Fixed-fee projects: interim milestone at the programme mid-point	share	0.4
scalar	Fixed-fee projects: balance invoiced at completion	share	0.3
scalar	GBP per EUR at 31-Dec-25 (ECB reference rate)	rate	0.8726	ECB euro foreign exchange reference rates, 31-Dec-25
scalar	USD per EUR at 31-Dec-25 (ECB reference rate)	rate	1.175	ECB euro foreign exchange reference rates, 31-Dec-25
scalar	Work type	Check	Strategy and account management	Creative and design
scalar	Brand and content retainers	0	0.18	0.32
scalar	Performance retainers	0	0.15	0.12
scalar	Product design and development retainers	0	0.1	0.35
scalar	Fixed-fee projects	0	0.08	0.3
scalar	Time and materials	0	0	0.3
scalar	Media management	0	0.15	0.05
scalar	Freelancers: days payable	days	20	Payment runs on the 15th and at month end
scalar	Media platforms: days payable	days	30	Monthly platform invoices on credit lines, 30 days
scalar	Production suppliers: days payable	days	30
scalar	Overhead suppliers: days payable	days	18
scalar	Bank loan (2025 office fit-out): annual interest rate	rate	0.056
scalar	Bank loan: monthly principal	EUR	3,000	Straight-line to Dec-28
scalar	Dividend on FY2026 profit: month paid	month	2027-06-30	After the FY2026 annual report is approved
scalar	Disputed change request CR-03 (Norbeck Analytics), USD	USD	16,500	Invoiced 29-May-26; 50% provided in June
scenario_driver	Retainer fee change at renewal			Downside = rate pressure at renewal	0.04	0	0.06	0
scenario_driver	Retainer overservicing vs the YTD level of each client	x		Base: scope reset at the October reviews removes 30% of the overservicing	0.7	1	0.5	1
scenario_driver	Overservicing on retainers with no history yet				0.1	0.2	0.08	0.2	0.1286
scenario_driver	Start delay: contracted and pipeline projects	months			0	2	0	2
scenario_driver	Overrun on remaining project hours			Applied to the estimate to complete at the last actual month	0	0.15	-0.05	0.15
scenario_driver	Time and materials demand factor	x			1	0.9	1.1	0.9
scenario_driver	Time and materials write-off: change vs YTD				0	0.04	-0.02	0.04
scenario_driver	Client media spend factor	x			1	0.9	1.1	0.9
scenario_driver	Rate card and hourly rates change, FY2027				0.04	0	0.06	0
scenario_driver	GBP and USD vs EUR from the last actual month-end (+ = weaker pound and dollar)			Forecast rate = last actual ECB month-end rate x (1 + shift)	0	0.04	-0.03	0.04
scenario_driver	Clients: extra days to collect	days			0	15	0	15	32.4522
scenario_driver	Delivery hiring plan (1 = as planned, 0 = freeze)	flag			1	0	1	0
scenario_driver	Head of delivery hire (1 = as planned, 0 = freeze)	flag			1	0	1	0
scenario_driver	Bonus accrual rate, forecast months				0.05	0	0.06	0	0.05
scenario_driver	Delivery capacity cut after losing the top client (FTE, spread across roles)	FTE		Management response in the Downside: notice given in January, leavers off payroll from the month below	0	4	0	4
scenario_driver	Capacity cut: first month without the leavers	month		Redundancy compensation of one month average wage paid in that month (Employment Contracts Act s100); notice of 15 to 90 days by tenure (s97)	2027-03-31	2027-03-31	2027-03-31	2027-03-31
scenario_driver	Discretionary overheads factor (travel, new business, training)	x			1	0.85	1	0.85
scenario_driver	Dividend on FY2026 profit (share of net profit, paid Jun-27)				0.5	0	0.6	0
scenario_driver	Disputed CR-03: share recovered				0.5	0	0.8	0
scenario_driver	Disputed CR-03: month of settlement	month			2026-11-30	2027-02-28	2026-10-31	2027-02-28

INPUTS: ACTUAL MONTHS (FICTIONAL LEDGER, TIMESHEETS, PAYROLL, CRM AND BANK)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	FY2026
GBP per EUR, monthly average	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB (derived)	0.8694	0.8712	0.8723	0.8673	0.8667	0.8645	0.8588	0.8561	0.8658
GBP per EUR, month end	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB	0.8662	0.8763	0.8683	0.8662	0.8672	0.8618	0.8557	0.8565	0
USD per EUR, monthly average	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB (derived)	1.1834	1.1862	1.1651	1.16	1.1673	1.1519	1.144	1.1541	1.164
USD per EUR, month end	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB	1.1919	1.1805	1.1498	1.1702	1.1644	1.1394	1.1485	1.1596	0
R-HAL: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	336,000
R-HAL: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	514.8	496.4	508.5	486.3	483.1	490.1	489.4	494.7	3,963.3
R-HAL: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	336,000
R-THV: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	120,000
R-THV: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	197.3	199.6	191.4	197	191.6	200.9	199.6	205.1	1,582.5
R-THV: invoiced (quarterly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	45,000	0	0	45,000	0	0	45,000	0	135,000
R-RVM: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	144,000
R-RVM: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	209.5	214	205.8	214.7	207.3	195.5	216.4	199.9	1,663.1
R-RVM: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	144,000
R-PEL: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	0	0	0	0	0	11,500	11,500	11,500	34,500
R-PEL: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	0	0	0	0	0	153.2	146.2	148.3	447.7
R-PEL: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	0	0	0	0	0	11,500	11,500	11,500	34,500
R-QFS: retainer fee recognised (USD)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	0	0	0	26,000	26,000	26,000	26,000	26,000	130,000
R-QFS: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	0	0	0	251.1	255.8	244.2	240.5	235.1	1,226.7
R-QFS: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	0	0	0	26,000	26,000	26,000	26,000	26,000	130,000
R-HOC: retainer fee recognised (USD)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	88,000
R-HOC: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	95.2	98.3	102.8	107.6	110.5	94.7	104.2	102.6	815.9
R-HOC: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	88,000
R-VOL: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	148,000
R-VOL: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	245.6	240.6	251	231.6	238.5	233.5	245.4	234.3	1,920.5
R-VOL: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	148,000
R-LIN: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	128,000
R-LIN: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	178.1	172.8	166.2	163.9	177	178.5	180.7	168.5	1,385.7
R-LIN: invoiced (quarterly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	48,000	0	0	48,000	0	0	48,000	0	144,000
R-VDH: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	112,000
R-VDH: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	161.4	155	163.4	151.2	153.9	147.7	157.4	159.2	1,249.2
R-VDH: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	112,000
R-SRV: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	108,000
R-SRV: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	173.7	166.3	168.2	171.9	166.6	163.6	160.1	174.5	1,344.9
R-SRV: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	108,000
R-TAM: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	72,000
R-TAM: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	104	95.3	100.5	104.8	99.5	102.4	96.2	102.7	805.4
R-TAM: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	72,000
P-2505: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	133.4	51.6	0	0	0	0	0	0	185
P-2505: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate	51.6	0	0	0	0	0	0	0
P-2505: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
P-2505: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	10,258.69	4,833.42	0	0	0	0	0	0	15,092.11
P-2505: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	22,200	0	0	0	0	0	0	22,200
P-2506: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	255.6	228.2	150.5	58.9	0	0	0	0	693.2
P-2506: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate	387.6	209.4	58.9	0	0	0	0	0
P-2506: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
P-2506: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	24,537.6	17,880.37	13,892.31	5,436.92	0	0	0	0	61,747.2
P-2506: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	48,000	0	0	36,000	0	0	0	0	84,000
P-2507: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	246.3	156.6	91.3	0	0	0	0	0	494.2
P-2507: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate	247.9	91.3	0	0	0	0	0	0
P-2507: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
P-2507: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	23,398.5	14,877	8,673.5	0	0	0	0	0	46,949
P-2507: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	38,000	0	28,500	0	0	0	0	0	66,500
P-2601: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	74.8	229.1	313.3	455.4	504.2	476.8	433.7	2,487.3
P-2601: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate		2,225.2	1,996.1	1,682.8	1,527.4	1,173.2	846.4	462.7
P-2601: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract		210,000	210,000	210,000	226,500	226,500	226,500	226,500
P-2601: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	190,974.05
P-2601: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	63,000	0	0	16,500	67,500	0	0	147,000
P-2602: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	78.3	213.1	292.9	358.3	302.7	164.3	1,409.6
P-2602: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate			1,371.7	1,158.6	865.7	557.4	254.7	90.4
P-2602: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract			145,000	145,000	145,000	145,000	145,000	145,000
P-2602: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	136,261.33
P-2602: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	43,500	0	0	58,000	0	0	101,500
P-2603: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	0	0	70.7	181.2	198.1	271.6	721.6
P-2603: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate					889.3	708.1	510	268.4
P-2603: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract					96,000	96,000	96,000	96,000
P-2603: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	0	0	7,070	18,120	19,810	24,973.33	69,973.33
P-2603: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	0	0	28,800	0	0	38,400	67,200
P-2604: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	0	0	0	42.2	103.6	129.6	275.4
P-2604: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate						517.8	414.2	284.6
P-2604: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract						56,000	56,000	56,000
P-2604: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	0	0	0	4,220	10,360	12,960	27,540
P-2604: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	0	0	0	16,800	0	0	16,800
P-2604: third-party production cost (EUR)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	purchase ledger	0	0	0	0	0	0	4,200	5,600	9,800
P-2605: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	0	0	0	0	77.5	204.4	281.9
P-2605: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate							722.5	518.1
P-2605: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract							85,000	85,000
P-2605: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	0	0	0	0	8,234.38	21,717.5	29,951.88
P-2605: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	0	0	0	0	25,500	0	25,500
ASH: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	257.5	224.5	222.5	190.7	206.7	215.2	169	246.3	1,732.4
ASH: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	139,474.12
ASH: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	134,048.91
CAR: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	0	0	96.2	91.5	99.9	86.4	64.5	90.6	529.1
CAR: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	48,915.6
CAR: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	0	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	40,601.11
TWL: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	0	0	0	0	0	0	0	0	0
TWL: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	0	0	0	0	0	0	0	0	0
TWL: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	0	0	0	0	0	0	0	0	0
OTH: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	115.9	109.7	133.7	145	113.4	121.3	95.8	99	933.8
OTH: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	74,612.99
OTH: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	7,861.33	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	74,741.68
THV: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	428,397.39
THV: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	42,839.74
HOC: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	667,724.31
HOC: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	60,095.19
LIN: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	36,651.48	36,033.18	37,761.67	41,489.22	37,868.66	40,561.35	35,029.41	35,093.95	300,488.92
LIN: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	3,665.15	3,603.32	3,776.17	4,148.92	3,786.87	4,056.14	3,502.94	3,509.39	30,048.9
TAM: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	17,814.1	19,471.68	20,102.78	21,367.75	20,600.91	21,373.1	20,230.83	21,912.78	162,873.93
TAM: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	2,137.69	2,336.6	2,412.33	2,564.13	2,472.11	2,564.77	2,427.7	2,629.53	19,544.86
VDH: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	26,297.13	26,644.31	28,793.82	30,973.38	31,211.42	29,702.68	24,993.32	24,881.93	223,497.99
VDH: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	2,629.71	2,664.43	2,879.38	3,097.34	3,121.14	2,970.27	2,499.33	2,488.19	22,349.79
HAL: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	41,018.64	84,117.35	42,294.42	66,531.52	43,620.08	49,695.84	41,559.96	61,230.8	430,068.61
THV: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	68,870.03	100,682.27	53,418.87	52,918.66	120,402.2	65,730.95	54,774.75	98,750.33	615,548.06
PEL: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	0	0	-276.45	12,029.94	10,077.43	21,830.92
ASH: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	17,042.51	16,709.45	18,134.38	19,624.88	16,268.18	17,166.74	18,356.48	13,913.57	137,216.19
TWL: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	6,145.72	37,354.28	0	-720.54	58,720.54	0	101,500
RVM: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	23,008.3	62,068.25	18,299.53	20,094.93	49,958.26	18,207.37	20,703.32	17,431.82	229,771.78
MAR: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	0	0	-1,898.27	18,401.35	4,729.32	21,232.4
QFS: cash received (USD)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	-6,422.24	21,362.46	22,766.7	25,566.49	29,807.61	93,081.02
HOC: cash received (USD)	CLIENT RECEIPTS (bank, invoice currency)	bank	108,093.63	151,952.1	73,474.85	104,268.91	101,484.01	78,717.88	134,762.36	89,911.9	842,665.64
NOR: cash received (USD)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	-6,791.25	42,203.85	27,587.4	0	-3,568.35	39,681.55	31,386.8	130,500
VOL: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	20,421.71	15,239.5	21,514.74	16,125.73	17,698.39	22,496.94	15,114.98	18,315.87	146,927.86
LIN: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	48,155.13	96,637.13	31,469.7	42,108.42	85,084.95	47,633.69	46,522.02	93,369.04	490,980.08
VDH: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	51,045.39	48,141.74	38,125.32	40,889.24	50,424.69	52,689.94	43,750.92	48,310.61	373,377.85
VLM: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	0	-733.15	29,533.15	0	2,725.74	31,525.74
SRV: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	14,979.91	12,244.86	14,849.75	12,379.78	13,716.36	13,234.24	13,589.08	12,458.29	107,452.27
CAR: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	1,693.13	20,506.87	-317.13	9,866.63	8,030.82	9,454.63	7,698.71	56,933.66
TAM: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	41,393.15	34,546.01	45,393.93	39,731.77	36,699.01	41,232.45	41,933.12	37,332.35	318,261.79
OTH: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	10,312.08	10,085.46	13,003.59	10,502.26	14,112.37	13,182.28	11,892.02	10,172.21	93,262.27
Headcount: strategy and account management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	5	5	5	5	5	5	5	5	5
Headcount: creative and design	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	9	9	9	9	8	8	9	9	8.75
Headcount: content, copy and video	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	5	5	5	5	4	4	4	4	4.5
Headcount: development and qa	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	7	7	7	8	8	8	8	8	7.625
Headcount: performance marketing	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	4	4	4	4	4	4	4	4	4
Headcount: project and delivery management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	3	3	3	3	3	3	3	3	3
Billable hours worked by own staff: strategy and account management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	351.7	336	341.9	365.9	385.4	430.3	440	443.1	3,094.3
Billable hours worked by own staff: creative and design	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	830.3	771.1	822	904.6	970.9	984.5	885.2	1,059.8	7,228.4
Billable hours worked by own staff: content, copy and video	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	317.6	305.6	310.4	308	320.1	385.2	390.8	396.2	2,733.9
Billable hours worked by own staff: development and qa	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	835.2	753	841.8	948.6	1,039.6	980.4	763.6	960.9	7,123.1
Billable hours worked by own staff: performance marketing	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	504.6	494.9	501.3	498.1	505.4	496.4	389.6	483.2	3,873.5
Billable hours worked by own staff: project and delivery management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	293.6	267.8	286.7	312.1	346.1	366.5	296.9	352.6	2,522.3
Billable hours worked by freelancers: strategy and account management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.097	0.066	0.059	0.099	0.031	0.013	0.085	0.054	0.504
Billable hours worked by freelancers: creative and design	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.021	0.058	0.075	0.095	0.072	109	209.691	77.559	396.571
Billable hours worked by freelancers: content, copy and video	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.006	0.017	0.047	0.015	0.012	0.044	0.095	0.04	0.276
Billable hours worked by freelancers: development and qa	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.099	0.099	0.057	0.006	0.071	170.364	369.008	247.383	787.087
Billable hours worked by freelancers: performance marketing	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.017	0	0.007	0.035	0.029	2.439	117.601	21.194	141.322
Billable hours worked by freelancers: project and delivery management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.06	0.06	0.055	0.05	0.085	32.94	106.52	67.37	207.14
Freelancer cost (ex VAT)	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	purchase ledger	5,062.83	5,921.18	5,125.2	6,532.51	5,209.98	25,536.25	59,683.52	32,476.4	145,547.87
Delivery team gross pay	PAYROLL	payroll	133,124	132,557	134,790	139,333	132,804	132,502	136,778	137,521	1,079,409
Leadership, new business and operations gross pay	PAYROLL	payroll	24,576	24,425	24,105	24,554	24,215	24,402	24,337	24,453	195,067
Leadership, new business and operations headcount	PAYROLL	payroll	5	5	5	5	5	5	5	5	5
Prior-year bonus paid (provision utilised, incl. employer taxes)	PAYROLL	payroll	0	0	131,500	0	0	0	0	0	131,500
Rent and service charges, Tallinn office	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	9,198	10,089	10,207	9,251	8,699	9,141	9,100	9,186	74,871
Software and tools	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	6,492	6,219	6,515	6,180	6,716	6,127	6,748	6,413	51,410
Client travel (UK, US, EU)	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	3,394	6,861	6,969	6,196	6,591	4,368	2,245	3,033	39,657
New business, awards and events	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,068	3,304	3,646	4,548	9,013	4,228	1,510	2,581	30,898
Recruitment	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	800	800	5,300	800	800	800	5,300	800	15,400
Training and conferences	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,451	2,109	1,927	2,264	2,331	2,140	2,328	2,224	17,774
Accounting, legal and professional fees	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,542	2,755	2,762	2,741	2,746	2,612	2,401	2,568	21,127
Insurance (professional indemnity, cyber)	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	892	811	940	894	821	944	798	828	6,928
Office and administration	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,141	2,044	1,753	2,033	1,969	1,948	2,051	1,806	15,745
IT support and equipment leases	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	1,684	1,670	2,012	1,831	2,054	2,015	1,685	2,113	15,064
Bank, payment and FX charges	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	1,283	978	1,053	1,177	1,138	1,127	1,120	1,028	8,904
Specific provision charged (bad debts)	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	0	0	0	0	0	7,240.65	0	0	7,240.65
Capex: IT equipment	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	asset register	2,600	1,400	3,100	5,200	900	2,400	4,800	1,600	22,000
Capex: office fit-out and furniture	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	asset register	0	0	0	0	0	0	0	0	0
Freelancers: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	23,309.71	5,812.3	6,536.96	6,054.52	6,387.02	11,482.73	38,207.84	57,873.22	155,664.3
Media platforms: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	160,513.37	194,305.35	194,859.5	210,132.63	243,567.19	255,796.31	232,273.71	187,582.6	1,679,030.66
Production suppliers: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	0	0	0	0	0	0	16.72	5,223.94	5,240.66
Overhead suppliers: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	37,789.4	41,784.96	41,958.93	53,072.1	46,559.27	45,029.6	39,146.74	40,085.85	345,426.85
Dividends paid (net)	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank, shareholder resolution	0	0	0	0	0	280,000	0	0	280,000
Income tax on distributions (22/78 of the dividend)	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	TSD annex 7	0	0	0	0	0	78,974.36	0	0	78,974.36

INPUTS: ACTUAL MONTHS (FICTIONAL LEDGER, TIMESHEETS, PAYROLL, CRM AND BANK)
label	basis	section	format	kind	bold	value c
Cash at bank	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	486,000
Prepayments and deposits	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	38,000
IT equipment: cost	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	142,000
IT equipment: accumulated depreciation	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	78,000
Office fit-out and furniture: cost	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	118,000
Office fit-out and furniture: accumulated depreciation	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	41,000
Trade payables: freelancers	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	21,400
Trade payables: media platforms	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	158,000
Trade payables: production suppliers	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	0
Trade payables: overhead suppliers	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	24,300
Payroll taxes payable (December TSD)	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	86,983.07
VAT payable (December return)	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	3,800
Bonus provision (FY2025, incl. employer taxes)	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	131,500
Bank loan	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	108,000
Income tax on distributions payable	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	0
Share capital	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	2,600
Retained earnings	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	775,512.01

OVERHEADS (EUR, ex VAT)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Rent and service charges, Tallinn office	OVERHEAD LINES	A: ledger; F: base x inflation	9,198	10,089	10,207	9,251	8,699	9,141	9,100	9,186	9,400	9,400	9,400	9,400	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	112,471	116,184
Software and tools	OVERHEAD LINES	A: ledger; F: base x inflation	6,492	6,219	6,515	6,180	6,716	6,127	6,748	6,413	6,500	6,500	6,500	6,500	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	77,410	80,340
Client travel (UK, US, EU)	OVERHEAD LINES	A: ledger; F: base x inflation x discretionary factor	3,394	6,861	6,969	6,196	6,591	4,368	2,245	3,033	4,335	4,335	4,335	4,335	4,465.05	4,465.05	4,465.05	4,465.05	4,465.05	4,465.05	4,465.05	4,465.05	4,465.05	4,465.05	4,465.05	4,465.05	56,997	53,580.6
New business, awards and events	OVERHEAD LINES	A: ledger; F: base x inflation x discretionary factor	2,068	3,304	3,646	4,548	9,013	4,228	1,510	2,581	3,145	3,145	3,145	3,145	3,239.35	3,239.35	3,239.35	3,239.35	3,239.35	3,239.35	3,239.35	3,239.35	3,239.35	3,239.35	3,239.35	3,239.35	43,478	38,872.2
Recruitment	OVERHEAD LINES	A: ledger; F: base x inflation	800	800	5,300	800	800	800	5,300	800	800	800	800	800	824	824	824	824	824	824	824	824	824	824	824	824	18,600	9,888
Training and conferences	OVERHEAD LINES	A: ledger; F: base x inflation x discretionary factor	2,451	2,109	1,927	2,264	2,331	2,140	2,328	2,224	1,870	1,870	1,870	1,870	1,926.1	1,926.1	1,926.1	1,926.1	1,926.1	1,926.1	1,926.1	1,926.1	1,926.1	1,926.1	1,926.1	1,926.1	25,254	23,113.2
Accounting, legal and professional fees	OVERHEAD LINES	A: ledger; F: base x inflation	2,542	2,755	2,762	2,741	2,746	2,612	2,401	2,568	2,600	2,600	2,600	2,600	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	31,527	32,136
Insurance (professional indemnity, cyber)	OVERHEAD LINES	A: ledger; F: base x inflation	892	811	940	894	821	944	798	828	900	900	900	900	927	927	927	927	927	927	927	927	927	927	927	927	10,528	11,124
Office and administration	OVERHEAD LINES	A: ledger; F: base x inflation	2,141	2,044	1,753	2,033	1,969	1,948	2,051	1,806	2,100	2,100	2,100	2,100	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	24,145	25,956
IT support and equipment leases	OVERHEAD LINES	A: ledger; F: base x inflation	1,684	1,670	2,012	1,831	2,054	2,015	1,685	2,113	1,900	1,900	1,900	1,900	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	22,664	23,484
Bank, payment and FX charges	OVERHEAD LINES	A: ledger; F: base x inflation	1,283	978	1,053	1,177	1,138	1,127	1,120	1,028	1,150	1,150	1,150	1,150	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	13,504	14,214
TOTAL OVERHEADS	OVERHEAD LINES		32,945	37,640	43,084	37,915	42,878	35,450	35,286	32,580	34,700	34,700	34,700	34,700	35,741	35,741	35,741	35,741	35,741	35,741	35,741	35,741	35,741	35,741	35,741	35,741	436,578	428,892
Overheads bearing Estonian input VAT	OVERHEAD LINES	line x VAT share	21,453.6	23,400.6	28,244.6	23,444	25,975.15	22,737.75	25,096.35	21,636.6	22,271.25	22,271.25	22,271.25	22,271.25	22,939.3875	22,939.3875	22,939.3875	22,939.3875	22,939.3875	22,939.3875	22,939.3875	22,939.3875	22,939.3875	22,939.3875	22,939.3875	22,939.3875	281,073.65	275,272.65
Software bought from foreign vendors (reverse charge base)	OVERHEAD LINES	software x reverse charge share	4,869	4,664.25	4,886.25	4,635	5,037	4,595.25	5,061	4,809.75	4,875	4,875	4,875	4,875	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	58,057.5	60,255

OVERHEADS (EUR, ex VAT)
label	basis	section	format	kind	bold	value c	value d
Rent and service charges, Tallinn office	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	9,400	1
Software and tools	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	6,500	0.25
Client travel (UK, US, EU) (discretionary)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	5,100	0.15
New business, awards and events (discretionary)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	3,700	0.6
Recruitment	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	800	1
Training and conferences (discretionary)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	2,200	0.7
Accounting, legal and professional fees	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	2,600	1
Insurance (professional indemnity, cyber)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	900	0
Office and administration	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	2,100	1
IT support and equipment leases	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	1,900	1
Bank, payment and FX charges	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	1,150	0

VAT (MONTHLY KMD RETURN, DUE BY THE 20TH)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Estonian clients (24%)	OUTPUT VAT	FX	8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	9,338.0736	10,169.7602	11,582.1669	10,620.1375	7,345.5345	7,754.7679	8,125.3116	8,515.2002	8,406.0713	8,179.8761	7,563.7923	7,435.3185	8,215.0957	8,967.5906	10,180.4133	9,338.1343	120,708.651	100,027.1062
Reverse charge on services received from abroad	OUTPUT VAT	(media + foreign freelancers + foreign software) x 24%	49,105.4586	48,628.6454	54,300.5022	59,658.1246	58,149.4285	57,475.0592	59,203.4039	59,911.5027	51,660.2037	56,025.7395	68,357.953	61,456.4546	43,149.4759	43,149.4759	46,472.0813	46,187.6525	46,187.6525	44,245.4516	38,183.5787	39,090.5763	42,930.5132	45,140.1816	54,984.3524	49,526.3009	683,932.4758	539,247.2929
Total output VAT	OUTPUT VAT		57,940.6074	58,342.031	63,976.1862	69,995.143	68,572.0765	67,612.964	69,186.1007	69,805.5291	60,998.2773	66,195.4997	79,940.1199	72,076.5921	50,495.0104	50,904.2439	54,597.393	54,702.8527	54,593.7238	52,425.3276	45,747.371	46,525.8948	51,145.6089	54,107.7722	65,164.7657	58,864.4353	804,641.1268	639,274.3991
Reverse charge (same amount as output)	INPUT VAT (recoverable)		49,105.4586	48,628.6454	54,300.5022	59,658.1246	58,149.4285	57,475.0592	59,203.4039	59,911.5027	51,660.2037	56,025.7395	68,357.953	61,456.4546	43,149.4759	43,149.4759	46,472.0813	46,187.6525	46,187.6525	44,245.4516	38,183.5787	39,090.5763	42,930.5132	45,140.1816	54,984.3524	49,526.3009	683,932.4758	539,247.2929
Overheads	INPUT VAT (recoverable)		5,148.864	5,616.144	6,778.704	5,626.56	6,234.036	5,457.06	6,023.124	5,192.784	5,345.1	5,345.1	5,345.1	5,345.1	5,505.453	5,505.453	5,505.453	5,505.453	5,505.453	5,505.453	5,505.453	5,505.453	5,505.453	5,505.453	5,505.453	5,505.453	67,457.676	66,065.436
Estonian freelancers	INPUT VAT (recoverable)		486.0317	568.4333	492.0192	627.121	500.1581	2,451.48	5,729.6179	3,117.7344	1,032.3108	528	528	970.5153	551.76	551.76	551.76	581.2852	581.2852	825.0447	1,812.8871	792.2323	551.76	551.76	551.76	950.3832	17,031.4216	8,853.6777
Production suppliers	INPUT VAT (recoverable)		0	0	0	0	0	0	1,008	1,344	485.3333	373.3333	1,274.3333	2,475	2,475	1,125	0	0	0	0	0	0	0	0	0	0	6,960	3,600
Capex	INPUT VAT (recoverable)		624	336	744	1,248	216	576	1,152	384	672	672	672	672	702.24	702.24	9,342.24	702.24	702.24	702.24	702.24	702.24	702.24	702.24	702.24	702.24	7,968	17,066.88
Total input VAT	INPUT VAT (recoverable)		55,364.3543	55,149.2226	62,315.2254	67,159.8056	65,099.6226	65,959.5992	73,116.1458	69,950.0211	59,194.9478	62,944.1728	76,177.3863	70,919.0699	52,383.9289	51,033.9289	61,871.5343	52,976.6307	52,976.6307	51,278.1892	46,204.1588	46,090.5015	49,689.9662	51,899.6346	61,743.8054	56,684.3771	783,349.5734	634,833.2866
Net VAT for the month (output - input)	VAT PAYABLE / (RECOVERABLE)		2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-144.492	1,803.3295	3,251.3269	3,762.7336	1,157.5222	-1,888.9185	-129.6851	-7,274.1414	1,726.222	1,617.093	1,147.1384	-456.7878	435.3932	1,455.6427	2,208.1376	3,420.9603	2,180.0582	21,291.5534	4,441.1125
Opening VAT payable / (recoverable)	VAT PAYABLE / (RECOVERABLE)		3,800	2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-4,074.5371	1,658.8375	3,251.3269	3,762.7336	1,157.5222	-1,888.9185	-2,018.6036	-7,403.8265	-5,547.9194	1,617.093	1,147.1384	-456.7878	-21.3946	1,455.6427	2,208.1376	3,420.9603
Paid: prior month net payable (20th)	VAT PAYABLE / (RECOVERABLE)		-3,800	-2,576.2531	-3,192.8083	-1,660.9608	-2,835.3374	-3,472.4539	-1,653.3648	0	0	-1,803.3295	-3,251.3269	-3,762.7336	-1,157.5222	0	0	0	-1,726.222	-1,617.093	-1,147.1384	0	-435.3932	-1,455.6427	-2,208.1376	-3,420.9603	-28,008.5683	-13,168.1094
Credited: net refund of two months earlier, offset against TSD (10th)	VAT PAYABLE / (RECOVERABLE)		0	0	0	0	0	0	0	0	3,930.0451	144.492	0	0	0	0	1,888.9185	129.6851	7,274.1414	0	0	0	456.7878	0	0	0	4,074.5371	9,749.5328
CLOSING VAT PAYABLE / (RECOVERABLE)	VAT PAYABLE / (RECOVERABLE)		2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-4,074.5371	1,658.8375	3,251.3269	3,762.7336	1,157.5222	-1,888.9185	-2,018.6036	-7,403.8265	-5,547.9194	1,617.093	1,147.1384	-456.7878	-21.3946	1,455.6427	2,208.1376	3,420.9603	2,180.0582	1,157.5222	2,180.0582

FIXED ASSETS AND DEPRECIATION
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Cost: opening	IT EQUIPMENT		142,000	144,600	146,000	149,100	154,300	155,200	157,600	162,400	164,000	166,800	169,600	172,400	175,200	178,126	181,052	183,978	186,904	189,830	192,756	195,682	198,608	201,534	204,460	207,386
Additions	IT EQUIPMENT	A: asset register; F: capex plan	2,600	1,400	3,100	5,200	900	2,400	4,800	1,600	2,800	2,800	2,800	2,800	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	33,200	35,112
Cost: closing	IT EQUIPMENT		144,600	146,000	149,100	154,300	155,200	157,600	162,400	164,000	166,800	169,600	172,400	175,200	178,126	181,052	183,978	186,904	189,830	192,756	195,682	198,608	201,534	204,460	207,386	210,312	175,200	210,312
Accumulated depreciation: opening	IT EQUIPMENT		78,000	82,016.6667	86,072.2222	90,213.8889	94,500	98,811.1111	103,188.8889	107,700	112,255.5556	116,888.8889	121,600	126,388.8889	131,255.5556	136,203.5	141,232.7222	146,343.2222	151,535	156,808.0556	162,162.3889	167,598	173,114.8889	178,713.0556	184,392.5	190,153.2222
Depreciation charge	IT EQUIPMENT	min(NBV, cost / life)	4,016.6667	4,055.5556	4,141.6667	4,286.1111	4,311.1111	4,377.7778	4,511.1111	4,555.5556	4,633.3333	4,711.1111	4,788.8889	4,866.6667	4,947.9444	5,029.2222	5,110.5	5,191.7778	5,273.0556	5,354.3333	5,435.6111	5,516.8889	5,598.1667	5,679.4444	5,760.7222	5,842	53,255.5556	64,739.6667
Accumulated depreciation: closing	IT EQUIPMENT		82,016.6667	86,072.2222	90,213.8889	94,500	98,811.1111	103,188.8889	107,700	112,255.5556	116,888.8889	121,600	126,388.8889	131,255.5556	136,203.5	141,232.7222	146,343.2222	151,535	156,808.0556	162,162.3889	167,598	173,114.8889	178,713.0556	184,392.5	190,153.2222	195,995.2222	131,255.5556	195,995.2222
Net book value	IT EQUIPMENT		62,583.3333	59,927.7778	58,886.1111	59,800	56,388.8889	54,411.1111	54,700	51,744.4444	49,911.1111	48,000	46,011.1111	43,944.4444	41,922.5	39,819.2778	37,634.7778	35,369	33,021.9444	30,593.6111	28,084	25,493.1111	22,820.9444	20,067.5	17,232.7778	14,316.7778	43,944.4444	14,316.7778
Cost: opening	OFFICE FIT-OUT AND FURNITURE		118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000
Additions	OFFICE FIT-OUT AND FURNITURE	A: asset register; F: capex plan	0	0	0	0	0	0	0	0	0	0	0	0	0	0	36,000	0	0	0	0	0	0	0	0	0	0	36,000
Cost: closing	OFFICE FIT-OUT AND FURNITURE		118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	118,000	154,000
Accumulated depreciation: opening	OFFICE FIT-OUT AND FURNITURE		41,000	42,966.6667	44,933.3333	46,900	48,866.6667	50,833.3333	52,800	54,766.6667	56,733.3333	58,700	60,666.6667	62,633.3333	64,600	66,566.6667	68,533.3333	71,100	73,666.6667	76,233.3333	78,800	81,366.6667	83,933.3333	86,500	89,066.6667	91,633.3333
Depreciation charge	OFFICE FIT-OUT AND FURNITURE	min(NBV, cost / life)	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	23,600	29,600
Accumulated depreciation: closing	OFFICE FIT-OUT AND FURNITURE		42,966.6667	44,933.3333	46,900	48,866.6667	50,833.3333	52,800	54,766.6667	56,733.3333	58,700	60,666.6667	62,633.3333	64,600	66,566.6667	68,533.3333	71,100	73,666.6667	76,233.3333	78,800	81,366.6667	83,933.3333	86,500	89,066.6667	91,633.3333	94,200	64,600	94,200
Net book value	OFFICE FIT-OUT AND FURNITURE		75,033.3333	73,066.6667	71,100	69,133.3333	67,166.6667	65,200	63,233.3333	61,266.6667	59,300	57,333.3333	55,366.6667	53,400	51,433.3333	49,466.6667	82,900	80,333.3333	77,766.6667	75,200	72,633.3333	70,066.6667	67,500	64,933.3333	62,366.6667	59,800	53,400	59,800
Capex	TOTAL		2,600	1,400	3,100	5,200	900	2,400	4,800	1,600	2,800	2,800	2,800	2,800	2,926	2,926	38,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	33,200	71,112
Depreciation	TOTAL		5,983.3333	6,022.2222	6,108.3333	6,252.7778	6,277.7778	6,344.4444	6,477.7778	6,522.2222	6,600	6,677.7778	6,755.5556	6,833.3333	6,914.6111	6,995.8889	7,677.1667	7,758.4444	7,839.7222	7,921	8,002.2778	8,083.5556	8,164.8333	8,246.1111	8,327.3889	8,408.6667	76,855.5556	94,339.6667
NET BOOK VALUE (to balance sheet)	TOTAL		137,616.6667	132,994.4444	129,986.1111	128,933.3333	123,555.5556	119,611.1111	117,933.3333	113,011.1111	109,211.1111	105,333.3333	101,377.7778	97,344.4444	93,355.8333	89,285.9444	120,534.7778	115,702.3333	110,788.6111	105,793.6111	100,717.3333	95,559.7778	90,320.9444	85,000.8333	79,599.4444	74,116.7778	97,344.4444	74,116.7778

BANK LOAN, DIVIDENDS, INCOME TAX ON DISTRIBUTIONS AND THE OVERDRAFT FACILITY
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Opening balance	BANK LOAN		108,000	105,000	102,000	99,000	96,000	93,000	90,000	87,000	84,000	81,000	78,000	75,000	72,000	69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000
Principal repaid	BANK LOAN	fixed monthly principal, capped at the balance	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-36,000	-36,000
BANK LOAN	BANK LOAN		105,000	102,000	99,000	96,000	93,000	90,000	87,000	84,000	81,000	78,000	75,000	72,000	69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000	36,000	72,000	36,000
Interest	BANK LOAN	opening x rate / 12	504	490	476	462	448	434	420	406	392	378	364	350	336	322	308	294	280	266	252	238	224	210	196	182	5,124	3,108
Current portion (next 12 months)	BANK LOAN		36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000
Non-current portion	BANK LOAN		69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000	36,000	33,000	30,000	27,000	24,000	21,000	18,000	15,000	12,000	9,000	6,000	3,000	0	36,000	0
Dividends paid (net)	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS	A: bank; F: payout x FY2026 net profit in the dividend month (none further in FY2026)	0	0	0	0	0	280,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	280,000	0
Income tax on distributions (P&L)	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS	A: TSD; F: dividend x 22/78	0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	78,974.36	0
Income tax on distributions payable: opening	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS		0	0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Paid (by the 10th of the following month)	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS		0	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-78,974.36	0
INCOME TAX ON DISTRIBUTIONS PAYABLE	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS		0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Overdraft facility, undrawn	FACILITY (memo)	Assumptions	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000

CFO decisions & actions

Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

7. RISK REGISTER (scored 1 to 5; score = likelihood x impact)
Risk	Likelihood	Impact	Score	Mitigation and owner
Client concentration: Halvergate is 19% of FY2026 net revenue and renews on 31 December; the top five clients are 48%.	3	5	15	Renewal proposal in October with the growth marketing pod; executive sponsor meeting before 30 November; grow two mid-size retainers to reduce the share below 15%; Founder and CEO
Cash buffer: forecast low of EUR 50k against the EUR 350k buffer; media is paid before clients pay	3	4	12	Weekly 13-week review; media clients on 30-day or prepaid terms; overdraft confirmed; Operations and finance manager
Overservicing: 13% of scoped retainer hours given away (EUR 93k at standard cost)	4	3	12	Monthly scope report to each client; change requests above scope; renew on actual hours; Head of delivery (founder until the hire)
Norbeck: project at 59% realisation and CR-03 (USD 16,500) disputed	4	2	8	Fix the go-live date; settlement meeting in October; completion milestone invoiced on go-live; Founder and CEO
Capacity mismatch: development at 82% and content at 53% utilisation	3	3	9	Cross-train one content producer into design production; freelancer panel for development peaks; Operations and finance manager
Pipeline dependency: 27% of FY2027 fee revenue not yet won	3	4	12	Pipeline review every two weeks with win-probability discipline; two retainer wins targeted by Q1-27; New business director
FX: 68% of revenue in GBP and USD against euro costs	3	3	9	Price new UK and US work with an FX review clause; convert receipts on arrival; consider forward cover once GBP exposure is stable; Operations and finance manager
Pay inflation and hiring ahead of work: the FY2027 pay review and new roles land before the new work	3	3	9	Hires only against signed work; pay review tied to utilisation and realisation targets; Founder and CEO
Credit exposure: Harrowgate owes EUR 196k on 60-day terms, mostly media already paid for	2	4	8	Media prepaid or on 30 days from the next insertion order; credit limit on unpaid media; Operations and finance manager
Key person: the founder leads creative direction and new business	2	4	8	Head of delivery hire in April; second pitch lead from the account team; documented client relationships; Founder and CEO

8. ACTIONS (owner, due date, status)
Action	Owner	Due	Status	Measure of done
Halvergate renewal: proposal with the growth marketing pod and a scope matched to actual hours, signed before 30 November	Founder and CEO	2026-11-30	Open	Renewal signed; FY2027 fee agreed
Scope reviews with Voltaro, Quillfield and Halvergate: change requests above scope, monthly scope report	Head of delivery (founder until April)	2026-10-31	Open	Overservicing below 10% of scope for Q4
Norbeck: fix the go-live date, settle CR-03 and invoice the completion milestone on go-live	Founder and CEO	2026-10-31	Open	CR-03 settled in writing; milestone invoiced
Move Harrowgate media to prepaid or 30-day terms from the next insertion order; collect the June media invoice	Operations and finance manager	2026-09-30	In progress	Harrowgate balance below one month of billing
Confirm the EUR 300k overdraft through FY2027 and pre-agree drawing mechanics for the weeks around the 10th	Operations and finance manager	2026-10-15	Open	Facility letter on file
Cross-train one content producer into design production before the Quillfield campaign	Head of delivery (founder until April)	2026-10-15	Open	Design freelancer hours down by half in Q4
Link each delivery hire to signed work: January developer only on the Ferncliff signature, March designer only on Brackenholt	Founder and CEO	2026-12-15	Open	No hire without a signed statement of work
FX clause in new UK and US statements of work; review forward cover once GBP receipts are predictable	Operations and finance manager	2026-11-30	Open	Clause in every new contract
Downside plan: triggers (renewal, utilisation, overservicing, media balances), the capacity response and the order of cash levers	BriQs CFO	2026-10-15	Open	Plan approved by the founder and attached to the October pack

4. How the model works

5. Methods an agency CFO will look for

Model guide
Area	Treatment
Net revenue	Revenue less production bought in. Media spend rebilled at cost is not revenue (agent, IFRS 15.B34 to B37); the media management fee is. Production recharged with a mark-up is revenue gross (principal). Gross billings shown as a memo.
Retainers	Earned evenly each month (IFRS 15.35(a)); quarterly advance invoices are contract liabilities (IFRS 15.106). Scoped vs worked hours give overservicing hours and cost at standard. Renewal probabilities by contract and scenario; pipeline retainers win-weighted.
Projects	Over time (IFRS 15.35(c)), measured on hours (input method, IFRS 15.B18 to B19); milestone invoicing gives contract assets and liabilities; forecast hours on an S-curve; overruns by scenario; approved change requests in contract value.
Utilisation and realisation	Own billable hours / productive hours by role; freelancers above 88% of capacity; realisation = fee revenue / standard value at the rate card; standard cost rates set to recover payroll at 75% utilisation, so the recovery variance shows idle capacity in euros.
Client profitability	Contribution = net revenue less hours at standard cost; delivery variance allocated by hours; leadership, bonus, overheads and bad debts by net revenue; allocated net contributions add back to EBITDA (checked). Concentration: largest client and top five.
FX	Flows at the monthly average rate, balances at the month-end rate, revaluation to the P&L (IAS 21.23 and 21.28); receipts converted on arrival.
Working capital	Per-client receivables with days to collect; media platforms paid in 30 days; aging in invoice currency tied to the ledger by currency.
New business	Revenue split by security (in term, renewal-weighted, signed projects, pipeline, run-rate); renewal calendar with value at risk; CRM win rates; a labelled run-rate of new project wins for FY2027 sized on the FY2026 win record.

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

Monthly average FX rates are the mean of the opening and closing ECB month-end rates; forecast rates hold the last month-end rate, shifted by scenario.
Hours by role follow a fixed mix per work type (Assumptions); productive hours per FTE follow a 12-month profile with July leave.
Standard cost rates recover payroll at 75% utilisation; freelancers take demand above 88% of each role.
Renewal and win probabilities by contract and scenario; hires tied to pipeline work carry the same probability; the FY2027 run-rate of new project wins is EUR 240k of fees a quarter at 85% in the Base.
All staff contribute 2% to the funded pension and use the basic exemption through this employer; pay inflation 4.5% and overhead inflation 3% from FY2027.
Media platforms invoice in EUR monthly on 30 days; receipts are converted to EUR on arrival; no GBP or USD cash is held.
Contract positions are netted per client; leavers are replaced like for like; the bonus (5% of gross pay with employer taxes) is paid in March.

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.

Executive review

Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

3. What the numbers say (Base)

Model guide
Measure	Value
YTD Aug-26 net revenue vs budget	EUR 2,548k against EUR 2,722k; variance (6.4%)
YTD EBITDA vs budget	EUR 307k (12.1% of net revenue) against EUR 519k (19.1%)
FY2026 net revenue, EBITDA, net profit	EUR 3,938k, EUR 583k (14.8%), EUR 428k
FY2027 net revenue, EBITDA	EUR 4,189k, EUR 539k (12.9%)
Utilisation and realisation, YTD	70.8% of productive hours; 84.8% of the rate card
Largest client and top five, FY2026	Halvergate 18.7% of net revenue; top five 48.7%
13-week low	EUR 374k in the week ending 02 Oct 2026
Lowest forecast month-end cash	EUR 339k in Sep-26, on payroll day: EUR 11k below the EUR 350k buffer

Model guide
Scenario (negatives in brackets)	FY2027 net revenue	FY2027 EBITDA	Lowest month-end cash
Base	EUR 4,189k	EUR 539k; margin 12.9%	EUR 339k
Downside	EUR 2,837k	(EUR 170k); margin (6.0%)	EUR 50k
Upside	EUR 4,808k	EUR 1,081k; margin 22.5%	EUR 351k

Scenario comparison
Measure	Unit	Base	Downside	Upside
FY2026 net revenue (outlook)	EUR	3,937,675.9212	3,761,827.1051	4,011,809.0013
FY2027 net revenue	EUR	4,189,215.8677	2,837,022.1528	4,807,958.0953
FY2026 delivery contribution %	%	39.72%	37.59%	40.84%
FY2026 EBITDA	EUR	583,450.5013	493,231.2809	653,400.9472
FY2026 EBITDA % of net revenue	%	14.82%	13.11%	16.29%
FY2026 net profit	EUR	428,478.2843	317,750.3208	515,210.6748
FY2027 delivery contribution %	%	38.77%	23.79%	45.73%
FY2027 EBITDA	EUR	538,595.2457	-169,791.908	1,080,997.7921
FY2027 EBITDA % of net revenue	%	12.86%	-5.98%	22.48%
FY2027 net profit	EUR	377,658.9321	-267,239.5746	893,060.0711
Cash at 31-Dec-26	EUR	612,534.283	252,820.3371	665,425.5662
Cash at 31-Dec-27	EUR	803,759.8606	50,030.884	1,257,727.7431
Lowest month-end cash, Sep-26 to Dec-27	EUR	339,326.2395	50,030.884	350,573.4146
Month of the lowest cash	month	2026-09-30	2027-12-31	2026-09-30
Headroom at the lowest point vs the cash buffer (negative = shortfall)	EUR	-10,673.7605	-299,969.116	573.4146
FY2027 utilisation (own staff)	%	68.17%	62.77%	72.33%
FY2027 realisation	%	88.23%	81.27%	92.28%
FY2027 retainer fees	EUR	2,425,082.9336	1,464,956.1144	2,704,725.8744
FY2027 largest client share of net revenue	%	17.76%	17.77%	18.21%
FY2027 fee revenue not yet won (share)	%	27.74%	26.67%	31.44%
FY2027 FX gains / (losses)	EUR	0	0	0
Headcount at Dec-27	number	41.85	34	42.15

P&L & budget

Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

PROFIT AND LOSS
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Retainer fees	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	208,012.7048	194,512.7048	194,512.7048	194,512.7048	204,759.3154	204,759.3154	215,670.6433	222,008.8345	222,008.8345	233,408.8877	233,629.0072	233,629.0072	233,629.0072	233,741.0072	233,741.0072	233,741.0072	2,280,839.054	2,704,725.8744
Fixed-fee project fees	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	117,283.8047	98,066.8637	78,159.4405	53,041.6552	55,968.8637	90,580.1157	114,526.835	131,531.5414	130,212.003	113,992.6603	116,344.6321	96,947.9186	71,040	84,480	84,480	71,040	946,256.8171	1,161,144.5697
Time and materials	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	33,303.601	29,595.2242	40,155.662	36,895.9525	37,446.0124	38,717.0875	29,519.827	38,965.4466	48,110.0729	57,353.9126	53,157.2849	42,665.7155	56,346.7219	54,122.5092	58,570.9347	55,605.3177	55,605.3177	51,156.8923	41,518.6372	50,415.4881	58,570.9347	60,795.1474	56,346.7219	45,225.6584	485,885.799	644,280.2812
Media management fees	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	19,530.4067	19,335.0268	21,595.5016	23,771.4365	23,099.434	22,018.8784	21,094.5728	22,676.7917	25,807.5877	28,388.3464	34,840.2433	30,969.1052	21,813.0295	21,813.0295	24,065.7683	24,968.2745	24,968.2745	23,719.8607	20,886.377	22,114.9875	24,572.2083	26,787.4291	32,875.4812	29,222.6499	293,127.3312	297,807.37
Production recharged to clients (principal)	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	FX	0	0	0	0	0	0	4,830	6,440	7,575.5556	13,338.8889	12,265.5556	5,250	0	0	0	0	0	0	0	0	0	0	0	0	49,700	0
REVENUE	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)		284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	361,734.5251	382,711.3088	406,789.7256	391,660.7163	372,935.229	326,439.1806	338,887.9306	371,274.9698	412,834.1813	434,113.9681	432,794.4297	422,278.301	412,378.6536	403,107.4013	387,812.1502	405,803.5837	407,443.2104	379,229.3156	4,055,809.0013	4,807,958.0953
Production bought in (photography, print, video)	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	Projects	0	0	0	0	0	0	-4,200	-5,600	-6,709.7222	-11,868.0556	-10,934.7222	-4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	-44,000	0
NET REVENUE	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)	revenue - production bought in	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	357,534.5251	377,111.3088	400,080.0034	379,792.6608	362,000.5068	321,751.6806	338,887.9306	371,274.9698	412,834.1813	434,113.9681	432,794.4297	422,278.301	412,378.6536	403,107.4013	387,812.1502	405,803.5837	407,443.2104	379,229.3156	4,011,809.0013	4,807,958.0953
Net revenue growth vs prior month (memo)	REVENUE (IFRS 15; media spend rebilled at cost is excluded, agent)			-7.48%	6.64%	8.75%	5.52%	10.53%	0.33%	5.48%	6.09%	-5.07%	-4.68%	-11.12%	5.33%	9.56%	11.19%	5.15%	-0.3%	-2.43%	-2.34%	-2.25%	-3.79%	4.64%	0.4%	-6.92%
Delivery team payroll (incl. social tax and unemployment insurance)	DELIVERY COSTS	People	-178,119.912	-177,361.266	-180,349.02	-186,427.554	-177,691.752	-177,287.676	-183,008.964	-184,003.098	-181,566.6	-188,122.8	-193,073.4	-193,073.4	-205,872.4404	-205,872.4404	-208,871.6008	-208,871.6008	-208,871.6008	-208,871.6008	-208,871.6008	-208,871.6008	-208,871.6008	-208,871.6008	-208,871.6008	-208,871.6008	-2,200,085.442	-2,500,460.8893
Freelancers	DELIVERY COSTS	Utilisation	-5,062.83	-5,921.18	-5,125.2	-6,532.51	-5,209.98	-25,536.25	-59,683.52	-32,476.4	-11,126.5281	-5,500	-5,500	-5,500	-5,747.5	-5,747.5	-5,747.5	-7,413.395	-6,718.7117	-8,841.2873	-38,064.1285	-6,735.4516	-5,747.5	-5,747.5	-5,747.5	-6,595.1742	-173,174.3981	-108,853.1482
TOTAL DELIVERY COSTS	DELIVERY COSTS		-183,182.742	-183,282.446	-185,474.22	-192,960.064	-182,901.732	-202,823.926	-242,692.484	-216,479.498	-192,693.1281	-193,622.8	-198,573.4	-198,573.4	-211,619.9404	-211,619.9404	-214,619.1008	-216,284.9958	-215,590.3125	-217,712.8881	-246,935.7293	-215,607.0525	-214,619.1008	-214,619.1008	-214,619.1008	-215,466.7751	-2,373,259.8401	-2,609,314.0375
DELIVERY CONTRIBUTION	DELIVERY COSTS	net revenue - delivery costs	101,608.1956	80,193.3975	95,494.488	112,579.8349	139,506.7685	153,530.5014	114,842.0411	160,631.8108	207,386.8752	186,169.8608	163,427.1068	123,178.2806	127,267.9902	159,655.0294	198,215.0804	217,828.9723	217,204.1172	204,565.4128	165,442.9243	187,500.3489	173,193.0493	191,184.4829	192,824.1095	163,762.5405	1,638,549.1612	2,198,644.0578
Delivery contribution % of net revenue	DELIVERY COSTS		35.68%	30.44%	33.99%	36.85%	43.27%	43.08%	32.12%	42.6%	51.84%	49.02%	45.15%	38.28%	37.55%	43%	48.01%	50.18%	50.19%	48.44%	40.12%	46.51%	44.66%	47.11%	47.33%	43.18%	40.84%	45.73%
Leadership, new business and operations payroll	OPERATING COSTS	People	-32,882.688	-32,680.65	-32,252.49	-32,853.252	-32,399.67	-32,649.876	-32,562.906	-32,718.114	-32,647.2	-32,647.2	-32,647.2	-32,647.2	-34,116.324	-34,116.324	-34,116.324	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-41,946.3	-391,588.446	-479,865.672
Bonus accrual (all staff, incl. employer taxes)	OPERATING COSTS	People	-10,550.13	-10,502.0958	-10,630.0755	-10,964.0403	-10,504.5711	-10,496.8776	-10,778.5935	-10,836.0606	-12,852.828	-13,246.2	-13,543.236	-13,543.236	-14,399.3259	-14,399.3259	-14,579.2755	-15,049.0741	-15,049.0741	-15,049.0741	-15,049.0741	-15,049.0741	-15,049.0741	-15,049.0741	-15,049.0741	-15,049.0741	-138,447.9444	-178,819.5937
Rent and service charges, Tallinn office	OPERATING COSTS	Overheads	-9,198	-10,089	-10,207	-9,251	-8,699	-9,141	-9,100	-9,186	-9,400	-9,400	-9,400	-9,400	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-9,682	-112,471	-116,184
Software and tools	OPERATING COSTS	Overheads	-6,492	-6,219	-6,515	-6,180	-6,716	-6,127	-6,748	-6,413	-6,500	-6,500	-6,500	-6,500	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-6,695	-77,410	-80,340
Client travel (UK, US, EU)	OPERATING COSTS	Overheads	-3,394	-6,861	-6,969	-6,196	-6,591	-4,368	-2,245	-3,033	-5,100	-5,100	-5,100	-5,100	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-5,253	-60,057	-63,036
New business, awards and events	OPERATING COSTS	Overheads	-2,068	-3,304	-3,646	-4,548	-9,013	-4,228	-1,510	-2,581	-3,700	-3,700	-3,700	-3,700	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-3,811	-45,698	-45,732
Recruitment	OPERATING COSTS	Overheads	-800	-800	-5,300	-800	-800	-800	-5,300	-800	-800	-5,300	-5,300	-800	-3,524	-824	-3,299	-5,324	-824	-824	-824	-824	-824	-824	-824	-824	-27,600	-19,563
Training and conferences	OPERATING COSTS	Overheads	-2,451	-2,109	-1,927	-2,264	-2,331	-2,140	-2,328	-2,224	-2,200	-2,200	-2,200	-2,200	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-2,266	-26,574	-27,192
Accounting, legal and professional fees	OPERATING COSTS	Overheads	-2,542	-2,755	-2,762	-2,741	-2,746	-2,612	-2,401	-2,568	-2,600	-2,600	-2,600	-2,600	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-2,678	-31,527	-32,136
Insurance (professional indemnity, cyber)	OPERATING COSTS	Overheads	-892	-811	-940	-894	-821	-944	-798	-828	-900	-900	-900	-900	-927	-927	-927	-927	-927	-927	-927	-927	-927	-927	-927	-927	-10,528	-11,124
Office and administration	OPERATING COSTS	Overheads	-2,141	-2,044	-1,753	-2,033	-1,969	-1,948	-2,051	-1,806	-2,100	-2,100	-2,100	-2,100	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-2,163	-24,145	-25,956
IT support and equipment leases	OPERATING COSTS	Overheads	-1,684	-1,670	-2,012	-1,831	-2,054	-2,015	-1,685	-2,113	-1,900	-1,900	-1,900	-1,900	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-1,957	-22,664	-23,484
Bank, payment and FX charges	OPERATING COSTS	Overheads	-1,283	-978	-1,053	-1,177	-1,138	-1,127	-1,120	-1,028	-1,150	-1,150	-1,150	-1,150	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-1,184.5	-13,504	-14,214
Bad debts (specific provision)	OPERATING COSTS	Receivables	0	0	0	0	0	-7,240.65	0	0	0	4,306.8264	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-2,933.8236	0
TOTAL OPERATING COSTS	OPERATING COSTS		-76,377.818	-80,822.7458	-85,966.5655	-81,732.2923	-85,782.2411	-85,837.4036	-78,627.4995	-76,134.1746	-81,850.028	-82,436.5736	-87,040.436	-82,540.436	-88,656.1499	-85,956.1499	-88,611.0995	-98,935.8741	-94,435.8741	-94,435.8741	-94,435.8741	-94,435.8741	-94,435.8741	-94,435.8741	-94,435.8741	-94,435.8741	-985,148.214	-1,117,646.2657
EBITDA	OPERATING COSTS		25,230.3776	-629.3483	9,527.9225	30,847.5426	53,724.5274	67,693.0978	36,214.5416	84,497.6362	125,536.8472	103,733.2872	76,386.6708	40,637.8446	38,611.8404	73,698.8796	109,603.9809	118,893.0982	122,768.2431	110,129.5388	71,007.0503	93,064.4748	78,757.1753	96,748.6088	98,388.2355	69,326.6664	653,400.9472	1,080,997.7921
EBITDA % of net revenue	OPERATING COSTS		8.86%	-0.24%	3.39%	10.1%	16.66%	19%	10.13%	22.41%	31.38%	27.31%	21.1%	12.63%	11.39%	19.85%	26.55%	27.39%	28.37%	26.08%	17.22%	23.09%	20.31%	23.84%	24.15%	18.28%	16.29%	22.48%
Depreciation	BELOW EBITDA	Fixed_Assets	-5,983.3333	-6,022.2222	-6,108.3333	-6,252.7778	-6,277.7778	-6,344.4444	-6,477.7778	-6,522.2222	-6,600	-6,750	-6,900	-6,977.7778	-7,102.3889	-7,183.6667	-7,904.6667	-8,058.1667	-8,139.4444	-8,220.7222	-8,302	-8,383.2778	-8,464.5556	-8,545.8333	-8,627.1111	-8,708.3889	-77,216.6667	-97,640.2222
EBIT	BELOW EBITDA		19,247.0443	-6,651.5705	3,419.5892	24,594.7649	47,446.7496	61,348.6534	29,736.7638	77,975.414	118,936.8472	96,983.2872	69,486.6708	33,660.0668	31,509.4515	66,515.2129	101,699.3142	110,834.9316	114,628.7987	101,908.8166	62,705.0503	84,681.1971	70,292.6197	88,202.7755	89,761.1244	60,618.2776	576,184.2805	983,357.5699
FX gains / (losses) on client balances	BELOW EBITDA	FX	-800.6979	-1,448.5772	6,340.4465	-2,443.0889	794.5139	7,283.5668	-524.2913	-2,859.0624	16,781.9446	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	23,124.7543	0
Loan interest	BELOW EBITDA	Financing	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-336	-322	-308	-294	-280	-266	-252	-238	-224	-210	-196	-182	-5,124	-3,108
PROFIT BEFORE TAX	BELOW EBITDA		17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	68,198.2202	28,792.4725	74,710.3516	135,326.7919	96,605.2872	69,122.6708	33,310.0668	31,173.4515	66,193.2129	101,391.3142	110,540.9316	114,348.7987	101,642.8166	62,453.0503	84,443.1971	70,068.6197	87,992.7755	89,565.1244	60,436.2776	594,185.0348	980,249.5699
Income tax on distributions (22/78 of dividends declared)	BELOW EBITDA	Financing	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	-87,189.4988	0	0	0	0	0	0	-78,974.36	-87,189.4988
NET PROFIT	BELOW EBITDA		17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	-10,776.1398	28,792.4725	74,710.3516	135,326.7919	96,605.2872	69,122.6708	33,310.0668	31,173.4515	66,193.2129	101,391.3142	110,540.9316	114,348.7987	14,453.3178	62,453.0503	84,443.1971	70,068.6197	87,992.7755	89,565.1244	60,436.2776	515,210.6748	893,060.0711
Net profit % of net revenue	BELOW EBITDA		6.3%	-3.26%	3.3%	7.1%	14.82%	-3.02%	8.05%	19.81%	33.82%	25.44%	19.09%	10.35%	9.2%	17.83%	24.56%	25.46%	26.42%	3.42%	15.14%	20.95%	18.07%	21.68%	21.98%	15.94%	12.84%	18.57%
Gross billings ex VAT (revenue + media spend rebilled)	MEMO	FX	482,249.7418	458,766.4182	500,028.2106	546,540.7887	557,316.2949	579,747.2781	576,496.7906	612,918.4401	668,827.073	679,901.7985	726,685.648	640,883.9975	560,591.176	592,978.2152	657,485.1613	688,000.1836	686,680.6452	663,470.2057	624,441.3117	627,644.3334	637,297.6302	677,817.6118	741,278.6085	675,971.8917	7,030,362.4801	7,833,656.9741
People cost (payroll, bonus, freelancers) % of net revenue	MEMO		79.57%	85.95%	81.27%	77.49%	70.04%	69.02%	80%	68.95%	59.54%	63.06%	67.61%	76.07%	76.76%	70.07%	63.78%	62.95%	62.98%	65.05%	73.7%	67.63%	70.04%	66.93%	66.66%	71.85%	72.37%	67.97%

ORIGINAL FY2026 BUDGET (APPROVED DEC-25, FICTIONAL)
Measure	Section	Basis	2026-01 Budget	2026-02 Budget	2026-03 Budget	2026-04 Budget	2026-05 Budget	2026-06 Budget	2026-07 Budget	2026-08 Budget	2026-09 Budget	2026-10 Budget	2026-11 Budget	2026-12 Budget	FY2026
Retainer hours	HOURS	budget input	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	2,030	24,360
Project hours	HOURS	budget input	913	978	1,043	1,000	957	1,022	913	935	1,087	1,130	1,065	848	11,891
Time and materials hours	HOURS	budget input	494	475	514	488	488	449	364	442	514	533	494	397	5,652
Media management hours	HOURS	budget input	245	245	245	245	245	245	245	245	245	245	245	245	2,940
TOTAL BILLABLE HOURS	HOURS		3,682	3,728	3,832	3,763	3,720	3,746	3,552	3,652	3,876	3,938	3,834	3,520	44,843
Retainer fees	REVENUE AND NET REVENUE	budget input	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	188,831	2,265,972
Fixed-fee project fees	REVENUE AND NET REVENUE	budget input	84,000	90,000	96,000	92,000	88,000	94,000	84,000	86,000	100,000	104,000	98,000	78,000	1,094,000
Time and materials	REVENUE AND NET REVENUE	budget input	42,504	40,826	44,182	41,945	41,945	38,589	31,319	38,030	44,182	45,860	42,504	34,115	486,001
Media management fees	REVENUE AND NET REVENUE	budget input	20,400	20,400	22,800	24,000	24,000	22,800	20,400	21,600	24,000	26,400	32,400	28,800	288,000
Production recharged to clients (principal)	REVENUE AND NET REVENUE	budget input	0	0	0	0	0	3,000	6,000	6,000	12,000	14,000	10,000	4,000	55,000
REVENUE	REVENUE AND NET REVENUE		335,735	340,057	351,813	346,776	342,776	347,220	330,550	340,461	369,013	379,091	371,735	333,746	4,188,973
Production bought in	REVENUE AND NET REVENUE	budget input	0	0	0	0	0	-2,632	-5,263	-5,263	-10,526	-12,281	-8,772	-3,509	-48,246
NET REVENUE	REVENUE AND NET REVENUE		335,735	340,057	351,813	346,776	342,776	344,588	325,287	335,198	358,487	366,810	362,963	330,237	4,140,727
Delivery team payroll	COSTS	budget input	-179,292	-179,292	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-185,179	-2,210,374
Freelancers	COSTS	budget input	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-12,000	-144,000
TOTAL DELIVERY COSTS	COSTS		-191,292	-191,292	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-197,179	-2,354,374
DELIVERY CONTRIBUTION	COSTS		144,443	148,765	154,634	149,597	145,597	147,409	128,108	138,019	161,308	169,631	165,784	133,058	1,786,353
Leadership, new business and operations payroll	COSTS	budget input	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-32,647	-391,764
Bonus accrual	COSTS	budget input	-10,597	-10,597	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-10,891	-130,104
Rent and service charges, Tallinn office	COSTS	budget input	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-9,400	-112,800
Software and tools	COSTS	budget input	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-6,200	-74,400
Client travel (UK, US, EU)	COSTS	budget input	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-5,000	-60,000
New business, awards and events	COSTS	budget input	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-3,600	-43,200
Recruitment	COSTS	budget input	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-1,600	-19,200
Training and conferences	COSTS	budget input	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-2,200	-26,400
Accounting, legal and professional fees	COSTS	budget input	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-2,500	-30,000
Insurance (professional indemnity, cyber)	COSTS	budget input	-900	-900	-900	-900	-900	-900	-900	-900	-900	-900	-900	-900	-10,800
Office and administration	COSTS	budget input	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-2,000	-24,000
IT support and equipment leases	COSTS	budget input	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-1,800	-21,600
Bank, payment and FX charges	COSTS	budget input	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-12,000
Bad debts	COSTS	budget input	0	0	0	0	0	0	0	0	0	0	0	0	0
TOTAL OPERATING COSTS	COSTS		-79,444	-79,444	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-79,738	-956,268
EBITDA	COSTS		64,999	69,321	74,896	69,859	65,859	67,671	48,370	58,281	81,570	89,893	86,046	53,320	830,085
Depreciation	COSTS	budget input	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-5,400	-64,800
FX gains / (losses)	COSTS	budget input	0	0	0	0	0	0	0	0	0	0	0	0	0
Loan interest	COSTS	budget input	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-5,124
PROFIT BEFORE TAX	COSTS		59,095	63,431	69,020	63,997	60,011	61,837	42,550	52,475	75,778	84,115	80,282	47,570	760,161
Income tax on distributions (June dividend)	COSTS	budget input	0	0	0	0	0	-78,974	0	0	0	0	0	0	-78,974
NET PROFIT	COSTS		59,095	63,431	69,020	63,997	60,011	-17,137	42,550	52,475	75,778	84,115	80,282	47,570	681,187
Cash at bank	BUDGETED MONTH-END BALANCES	budget balance	539,000	597,000	528,000	585,000	639,000	415,000	374,000	422,000	490,000	567,000	639,000	682,000	682,000
Trade receivables	BUDGETED MONTH-END BALANCES	budget balance	585,000	591,000	625,000	628,000	623,000	619,000	579,000	601,000	656,000	688,000	728,000	651,000	651,000
Contract assets less contract liabilities	BUDGETED MONTH-END BALANCES	budget balance	37,000	37,000	38,000	37,000	37,000	38,000	37,000	37,000	38,000	38,000	38,000	36,000	36,000

Budget vs actual / rows
label	ytd actual	ytd budget	ytd variance	ytd variance pct	fy outlook	fy budget	fy variance	fy variance pct	commentary
Retainer hours	16,404.9	16,240	164.9	1.02%	24,384.5029	24,360	24.5029	0.1%
Project hours	6,548.2	7,761	-1,212.8	-15.63%	9,682.7039	11,891	-2,208.2961	-18.57%	First-half projects started later than budgeted; Norbeck absorbed hours without fees.
Time and materials hours	3,195.3	3,714	-518.7	-13.97%	5,341.3253	5,652	-310.6747	-5.5%
Media management hours	1,960	1,960	0	0%	2,940	2,940	0	0%
Retainer fees	1,489,288.235	1,510,648	-21,359.765	-1.41%	2,280,839.054	2,265,972	14,867.054	0.66%	Quillfield started in April against a January budget; Pellworth won in June (not budgeted); overservicing 1,870 hours.
Fixed-fee project fees	599,705.0531	714,000	-114,294.9469	-16.01%	946,256.8171	1,094,000	-147,743.1829	-13.5%	Hours effect EUR -112k, rate effect EUR -3k (bridge below).
Time and materials	284,598.8132	319,340	-34,741.1868	-10.88%	485,885.799	486,001	-115.201	-0.02%
Media management fees	173,122.0486	176,400	-3,277.9514	-1.86%	293,127.3312	288,000	5,127.3312	1.78%	Client media spend below the budgeted level; fee rates unchanged.
Production recharged to clients (principal)	11,270	15,000	-3,730	-24.87%	49,700	55,000	-5,300	-9.64%
REVENUE	2,557,984.1498	2,735,388	-177,403.8502	-6.49%	4,055,809.0013	4,188,973	-133,163.9987	-3.18%
Production bought in	-9,800	-13,158	3,358	25.52%	-44,000	-48,246	4,246	8.8%
NET REVENUE	2,548,184.1498	2,722,230	-174,045.8502	-6.39%	4,011,809.0013	4,140,727	-128,917.9987	-3.11%
Delivery team payroll	-1,444,249.242	-1,469,658	25,408.758	1.73%	-2,200,085.442	-2,210,374	10,288.558	0.47%	Developer hired in April; one content producer left in May, not replaced.
Freelancers	-145,547.87	-96,000	-49,547.87	-51.61%	-173,174.3981	-144,000	-29,174.3981	-20.26%	Development and design at capacity from June: freelancers covered the peak.
DELIVERY CONTRIBUTION	958,387.0378	1,156,572	-198,184.9622	-17.14%	1,638,549.1612	1,786,353	-147,803.8388	-8.27%
Delivery contribution %	0.3761	0.4249	-0.0488		0.4084	0.4314	-0.023
Leadership, new business and operations payroll	-260,999.646	-261,176	176.354	0.07%	-391,588.446	-391,764	175.554	0.04%
Bonus accrual	-85,262.4444	-86,540	1,277.5556	1.48%	-138,447.9444	-130,104	-8,343.9444	-6.41%
Rent and service charges, Tallinn office	-74,871	-75,200	329	0.44%	-112,471	-112,800	329	0.29%
Software and tools	-51,410	-49,600	-1,810	-3.65%	-77,410	-74,400	-3,010	-4.05%
Client travel (UK, US, EU)	-39,657	-40,000	343	0.86%	-60,057	-60,000	-57	-0.09%
New business, awards and events	-30,898	-28,800	-2,098	-7.28%	-45,698	-43,200	-2,498	-5.78%
Recruitment	-15,400	-12,800	-2,600	-20.31%	-27,600	-19,200	-8,400	-43.75%
Training and conferences	-17,774	-17,600	-174	-0.99%	-26,574	-26,400	-174	-0.66%
Accounting, legal and professional fees	-21,127	-20,000	-1,127	-5.63%	-31,527	-30,000	-1,527	-5.09%
Insurance (professional indemnity, cyber)	-6,928	-7,200	272	3.78%	-10,528	-10,800	272	2.52%
Office and administration	-15,745	-16,000	255	1.59%	-24,145	-24,000	-145	-0.6%
IT support and equipment leases	-15,064	-14,400	-664	-4.61%	-22,664	-21,600	-1,064	-4.93%
Bank, payment and FX charges	-8,904	-8,000	-904	-11.3%	-13,504	-12,000	-1,504	-12.53%
Bad debts	-7,240.65	0	-7,240.65	0%	-2,933.8236	0	-2,933.8236	0%	Half of the disputed Norbeck change request CR-03 provided in June.
TOTAL OPERATING COSTS	-651,280.7404	-637,316	-13,964.7404	-2.19%	-985,148.214	-956,268	-28,880.214	-3.02%
EBITDA	307,106.2974	519,256	-212,149.7026	-40.86%	653,400.9472	830,085	-176,684.0528	-21.29%	EUR 212k behind budget YTD; EUR 177k on the full-year outlook.
EBITDA % of net revenue	0.1205	0.1907	-0.0702		0.1629	0.2005	-0.0376
FX gains / (losses)	6,342.8096	0	6,342.8096	0%	23,124.7543	0	23,124.7543	0%
NET PROFIT	180,845.8582	393,442	-212,596.1418	-54.03%	515,210.6748	681,187	-165,976.3252	-24.37%
Cash at bank	367,888.0493	422,000	-54,111.9507	-12.82%	665,425.5662	682,000	-16,574.4338	-2.43%
Trade receivables	599,808.5013	601,000	-1,191.4987	-0.2%	818,166.074	651,000	167,166.074	25.68%
Contract assets less contract liabilities	104,460.9211	37,000	67,460.9211	182.33%	46,948.8308	36,000	10,948.8308	30.41%	Unbilled work on Norbeck and Van Lienden between milestones.

Budget vs actual / net revenue bridge ytd
Stream	Actual net revenue YTD	Budget net revenue YTD	Actual hours YTD	Budget hours YTD	Actual rate	Budget rate	Hours effect	Rate effect	Total variance
Retainers	1,489,288.235	1,510,648	16,404.9	16,240	90.7831	93.0202	15,339.0305	-36,698.7955	-21,359.765
Fixed-fee projects	599,705.0531	714,000	6,548.2	7,761	91.5832	91.9985	-111,575.7248	-2,719.2222	-114,294.9469
Time and materials	284,598.8132	319,340	3,195.3	3,714	89.0679	85.9828	-44,599.2617	9,858.0749	-34,741.1868
Media management	173,122.0486	176,400	1,960	1,960	88.3276	90	0	-3,277.9514	-3,277.9514
Production mark-up (no hours)	1,470	1,842					-372	0	-372
TOTAL	2,548,184.1498	2,722,230	28,108.4	29,675			-141,207.956	-32,837.8942	-174,045.8502

Budget vs actual / ebitda walk ytd
step	value
Budget EBITDA YTD	519,256
Net revenue variance	-174,045.8502
Delivery payroll variance	25,408.758
Freelancer variance	-49,547.87
Leadership, new business and operations payroll and bonus variance	1,453.9096
Overheads and bad debts variance	-15,418.65
Actual EBITDA YTD	307,106.2974

Balance sheet & cash flow

Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

BALANCE SHEET
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Cash at bank	ASSETS	CF	492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	350,573.4146	446,940.9135	603,135.3424	665,425.5662	714,071.8419	901,194.7483	774,028.3232	815,642.2822	971,654.8196	746,480.9578	768,151.1834	907,803.0405	980,993.3487	1,066,321.7946	1,219,290.2206	1,257,727.7431	665,425.5662	1,257,727.7431
Trade receivables, net of the specific provision	ASSETS	Receivables	698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	725,543.8052	696,742.6615	599,808.5013	783,846.5206	896,407.3671	903,012.2813	818,166.074	809,324.8327	666,003.7759	770,650.1804	850,842.6645	801,057.147	796,509.2273	789,756.5357	738,950.8224	761,434.0943	859,213.7691	834,715.5059	838,623.9809	818,166.074	838,623.9809
Contract assets (work done, not yet invoiced)	ASSETS	FX	56,471.5504	71,124.6723	75,450.8687	36,916.5417	66,622.8948	38,781.8119	79,499.3444	137,974.4649	124,848.0445	114,218.7108	79,693.181	50,715.7155	74,838.7011	70,369.3939	79,460.0222	70,474.8012	77,985.3177	69,340.0691	91,566.4461	62,895.4881	58,570.9347	60,795.1474	68,826.7219	45,225.6584	50,715.7155	45,225.6584
Prepayments and deposits	ASSETS	opening balance, no movement modelled	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000	38,000
Fixed assets, net book value	ASSETS	Fixed_Assets	137,616.6667	132,994.4444	129,986.1111	128,933.3333	123,555.5556	119,611.1111	117,933.3333	113,011.1111	109,211.1111	107,861.1111	106,361.1111	102,183.3333	99,566.9444	95,309.2778	127,760.6111	125,228.4444	120,015	114,720.2778	109,344.2778	103,887	98,348.4444	92,728.6111	87,027.5	81,245.1111	102,183.3333	81,245.1111
TOTAL ASSETS	ASSETS		1,423,473.0841	1,438,383.349	1,403,210.6626	1,418,803.558	1,430,374.8232	1,194,424.2035	1,210,339.3242	1,256,682.1266	1,406,479.0908	1,603,428.1024	1,730,201.9158	1,674,490.6889	1,735,802.3202	1,770,877.1959	1,789,899.1368	1,900,188.1924	2,008,712.2843	1,765,050.5319	1,796,818.443	1,851,536.351	1,937,346.8221	2,117,059.3222	2,247,859.9485	2,260,822.4935	1,674,490.6889	2,260,822.4935
Trade payables: freelancers	LIABILITIES	Payables	3,639.1517	4,316.465	3,396.7242	4,501.8351	3,824.9532	20,329.9532	47,535.2511	25,256.1655	8,129.7832	4,018.6667	4,018.6667	4,018.6667	4,199.5067	4,199.5067	4,199.5067	5,416.7206	4,909.1387	6,460.0339	27,812.1899	4,921.37	4,199.5067	4,199.5067	4,199.5067	4,818.874	4,018.6667	4,818.874
Trade payables: media platforms	LIABILITIES	Payables	194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	262,037.3474	288,241.0822	353,750.419	314,444.8169	221,703.2453	221,703.2453	244,650.9801	253,886.2155	253,886.2155	241,191.9047	212,062.6581	224,536.9321	249,485.4801	272,014.0281	333,835.3981	296,742.5761	314,444.8169	296,742.5761
Trade payables: production suppliers	LIABILITIES	Payables	0	0	0	0	0	0	5,191.28	6,911.34	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0	0	5,812.5	0
Trade payables: overhead suppliers	LIABILITIES	Payables	24,604.464	26,075.648	33,979.422	24,448.882	27,001.648	22,879.108	25,041.492	22,728.426	25,114.8	28,462.8	28,462.8	25,114.8	27,877.044	25,868.244	27,709.644	29,216.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,114.8	25,868.244
Payroll taxes payable (TSD)	LIABILITIES	People	86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	90,697.2	92,711.696	92,711.696	98,869.1359	98,869.1359	160,742.0736	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	92,711.696	103,373.889
VAT payable / (recoverable)	LIABILITIES	VAT	2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-4,074.5371	1,517.8216	880.1448	2,837.6641	4,850.6948	1,659.5814	3,381.4426	-5,691.5023	-3,133.3128	4,177.2577	3,664.5048	13.7087	2,837.4776	4,005.1565	5,040.0866	6,698.7307	5,462.965	4,850.6948	5,462.965
Contract liabilities (invoiced in advance)	LIABILITIES	FX	68,030.4779	80,699.323	71,738.6281	88,889.4266	55,026.4496	45,288.2198	89,828.5441	33,513.5438	19,979.9419	76,160.3996	54,944.2873	3,766.8846	115,150.3996	72,919.6754	39,829.8434	70,379.8391	49,051.0697	12,480	68,363.1724	34,181.5862	12,480	68,587.1724	34,293.5862	12,480	3,766.8846	12,480
Bonus provision	LIABILITIES	People	142,050.13	152,552.2258	31,682.3013	42,646.3416	53,150.9127	63,647.7903	74,426.3838	85,262.4444	98,115.2724	111,361.4724	124,904.7084	138,447.9444	152,847.2703	167,246.5961	43,377.9272	58,427.0013	73,476.0753	88,525.1494	103,574.2234	118,623.2975	133,672.3715	148,721.4456	163,770.5196	178,819.5937	138,447.9444	178,819.5937
Income tax on distributions payable	LIABILITIES	Financing	0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	87,189.4988	0	0	0	0	0	0	0	0
Bank loan: current portion	LIABILITIES	Financing	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000
Bank loan: non-current portion	LIABILITIES	Financing	69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000	36,000	33,000	30,000	27,000	24,000	21,000	18,000	15,000	12,000	9,000	6,000	3,000	0	36,000	0
TOTAL LIABILITIES	LIABILITIES		627,418.7269	650,919.1395	606,462.4175	600,365.6369	564,143.6386	618,969.1588	606,091.8069	577,724.2577	592,194.4301	692,538.1545	750,189.2971	661,168.0034	691,306.1831	660,187.8459	577,818.4726	577,566.5966	571,741.8899	622,753.2247	592,068.0855	562,342.7963	578,084.6478	669,804.3724	711,039.8743	663,566.1418	661,168.0034	663,566.1418
Share capital	EQUITY	opening balance	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600	2,600
Retained earnings: opening (memo)	EQUITY		775,512.01	793,454.3564	784,864.2087	794,148.2444	815,837.9203	863,631.1838	572,855.044	601,647.5166	676,357.8682	811,684.66	908,289.9472	977,412.618	1,010,722.6848	1,041,896.1363	1,108,089.3492	1,209,480.6635	1,320,021.595	1,434,370.3937	1,139,697.3066	1,202,150.3568	1,286,593.5539	1,356,662.1736	1,444,654.9491	1,534,220.0735
Net profit (memo)	EQUITY	PL	17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	-10,776.1398	28,792.4725	74,710.3516	135,326.7919	96,605.2872	69,122.6708	33,310.0668	31,173.4515	66,193.2129	101,391.3142	110,540.9316	114,348.7987	14,453.3178	62,453.0503	84,443.1971	70,068.6197	87,992.7755	89,565.1244	60,436.2776	515,210.6748	893,060.0711
Dividends (memo)	EQUITY	Financing	0	0	0	0	0	280,000	0	0	0	0	0	0	0	0	0	0	0	309,126.4049	0	0	0	0	0	0	280,000	309,126.4049
Retained earnings	EQUITY		793,454.3564	784,864.2087	794,148.2444	815,837.9203	863,631.1838	572,855.044	601,647.5166	676,357.8682	811,684.66	908,289.9472	977,412.618	1,010,722.6848	1,041,896.1363	1,108,089.3492	1,209,480.6635	1,320,021.595	1,434,370.3937	1,139,697.3066	1,202,150.3568	1,286,593.5539	1,356,662.1736	1,444,654.9491	1,534,220.0735	1,594,656.351	1,010,722.6848	1,594,656.351
TOTAL EQUITY	EQUITY		796,054.3564	787,464.2087	796,748.2444	818,437.9203	866,231.1838	575,455.044	604,247.5166	678,957.8682	814,284.66	910,889.9472	980,012.618	1,013,322.6848	1,044,496.1363	1,110,689.3492	1,212,080.6635	1,322,621.595	1,436,970.3937	1,142,297.3066	1,204,750.3568	1,289,193.5539	1,359,262.1736	1,447,254.9491	1,536,820.0735	1,597,256.351	1,013,322.6848	1,597,256.351
TOTAL LIABILITIES AND EQUITY	EQUITY		1,423,473.0833	1,438,383.3482	1,403,210.6619	1,418,803.5573	1,430,374.8225	1,194,424.2028	1,210,339.3235	1,256,682.1259	1,406,479.0901	1,603,428.1017	1,730,201.915	1,674,490.6882	1,735,802.3194	1,770,877.1952	1,789,899.1361	1,900,188.1917	2,008,712.2836	1,765,050.5312	1,796,818.4423	1,851,536.3502	1,937,346.8214	2,117,059.3215	2,247,859.9478	2,260,822.4928	1,674,490.6882	2,260,822.4928
CHECK: assets less liabilities and equity (must be zero)	EQUITY		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Working capital (receivables + contract assets + prepayments - trade payables - contract liabilities)	MEMO		502,081.9591	322,489.1794	364,666.9087	400,510.1088	378,068.861	503,892.2698	454,220.8169	452,324.3376	623,112.637	637,026.7405	565,970.2337	553,724.1212	553,233.3382	449,682.4985	571,720.2284	600,418.4466	583,327.7969	617,849.1137	585,216.7175	550,338.1783	565,971.7982	587,339.9653	543,345.4929	581,939.9453	553,724.1212	581,939.9453
Net cash / (debt): cash less bank loan	MEMO		387,554.9305	573,877.6302	480,312.2071	424,521.0509	507,557.8301	182,487.4753	191,163.985	283,888.0493	269,573.4146	368,940.9135	528,135.3424	593,425.5662	645,071.8419	835,194.7483	711,028.3232	755,642.2822	914,654.8196	692,480.9578	717,151.1834	859,803.0405	935,993.3487	1,024,321.7946	1,180,290.2206	1,221,727.7431	593,425.5662	1,221,727.7431

CASH FLOW STATEMENT
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Net profit	OPERATING ACTIVITIES (indirect)	PL	17,942.3464	-8,590.1477	9,284.0357	21,689.6759	47,793.2635	-10,776.1398	28,792.4725	74,710.3516	135,326.7919	96,605.2872	69,122.6708	33,310.0668	31,173.4515	66,193.2129	101,391.3142	110,540.9316	114,348.7987	14,453.3178	62,453.0503	84,443.1971	70,068.6197	87,992.7755	89,565.1244	60,436.2776	515,210.6748	893,060.0711
Add back: depreciation	OPERATING ACTIVITIES (indirect)		5,983.3333	6,022.2222	6,108.3333	6,252.7778	6,277.7778	6,344.4444	6,477.7778	6,522.2222	6,600	6,750	6,900	6,977.7778	7,102.3889	7,183.6667	7,904.6667	8,058.1667	8,139.4444	8,220.7222	8,302	8,383.2778	8,464.5556	8,545.8333	8,627.1111	8,708.3889	77,216.6667	97,640.2222
Add back: interest	OPERATING ACTIVITIES (indirect)		504	490	476	462	448	434	420	406	392	378	364	350	336	322	308	294	280	266	252	238	224	210	196	182	5,124	3,108
Add back: income tax on distributions	OPERATING ACTIVITIES (indirect)		0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	87,189.4988	0	0	0	0	0	0	78,974.36	87,189.4988
EBITDA plus FX on client balances (check equals PL)	OPERATING ACTIVITIES (indirect)		24,429.6797	-2,077.9255	15,868.369	28,404.4537	54,519.0413	74,976.6646	35,690.2503	81,638.5738	142,318.7919	103,733.2872	76,386.6708	40,637.8446	38,611.8404	73,698.8796	109,603.9809	118,893.0982	122,768.2431	110,129.5388	71,007.0503	93,064.4748	78,757.1753	96,748.6088	98,388.2355	69,326.6664	676,525.7015	1,080,997.7921
(Increase) / decrease in trade receivables	OPERATING ACTIVITIES (indirect)	BS movement	-130,879.1732	178,443.3345	-60,074.8736	-113,971.1563	92,794.0893	-123,905.2624	28,801.1437	96,934.1602	-184,038.0193	-112,560.8465	-6,604.9142	84,846.2073	8,841.2412	143,321.0568	-104,646.4044	-80,192.4842	49,785.5176	4,547.9197	6,752.6916	50,805.7133	-22,483.2718	-97,779.6748	24,498.2631	-3,908.475	-250,215.3107	-20,457.9069
(Increase) / decrease in contract assets	OPERATING ACTIVITIES (indirect)	BS movement	22,672.767	-14,653.1218	-4,326.1965	38,534.327	-29,706.353	27,841.0828	-40,717.5325	-58,475.1205	13,126.4204	10,629.3337	34,525.5298	28,977.4655	-24,122.9856	4,469.3072	-9,090.6283	8,985.221	-7,510.5165	8,645.2487	-22,226.3771	28,670.9581	4,324.5534	-2,224.2127	-8,031.5746	23,601.0635	28,428.6019	5,490.0571
(Increase) / decrease in prepayments	OPERATING ACTIVITIES (indirect)	BS movement	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Increase / (decrease) in freelancer payables	OPERATING ACTIVITIES (indirect)	BS movement	-17,760.8483	677.3133	-919.7408	1,105.111	-676.8819	16,505	27,205.2979	-22,279.0856	-17,126.3823	-4,111.1165	0	0	180.84	0	0	1,217.2139	-507.5819	1,550.8953	21,352.1559	-22,890.8199	-721.8633	0	0	619.3673	-17,381.3333	800.2073
Increase / (decrease) in media platform payables	OPERATING ACTIVITIES (indirect)	BS movement	36,945.4342	985.2247	24,200.0025	30,868.2598	-8,659.3955	-32,403.4593	-17,511.4445	42,624.5313	26,988.1943	26,203.7347	65,509.3369	-39,305.6021	-92,741.5716	0	22,947.7347	9,235.2354	0	-12,694.3108	-29,129.2466	12,474.274	24,948.548	22,528.548	61,821.37	-37,092.822	156,444.8169	-17,702.2408
Increase / (decrease) in production payables	OPERATING ACTIVITIES (indirect)	BS movement	0	0	0	0	0	0	5,191.28	1,720.06	1,408.7156	6,396.3333	-1,157.3333	-7,746.5556	-5,812.5	0	0	0	0	0	0	0	0	0	0	0	5,812.5	-5,812.5
Increase / (decrease) in overhead payables	OPERATING ACTIVITIES (indirect)	BS movement	304.464	1,471.184	7,903.774	-9,530.54	2,552.766	-4,122.54	2,162.384	-2,313.066	2,386.374	3,348	0	-3,348	2,762.244	-2,008.8	1,841.4	1,506.6	-3,348	0	0	0	0	0	0	0	814.8	753.444
Increase / (decrease) in payroll taxes payable	OPERATING ACTIVITIES (indirect)	BS movement	-410.254	-420.8054	58,721.7092	-54,828.8268	-3,717.1974	-67.3992	2,313.9829	503.4427	-1,098.3139	2,717.792	2,014.496	0	6,157.4399	0	61,872.9377	-57,368.1845	0	0	0	0	0	0	0	0	5,728.626	10,662.193
Increase / (decrease) in VAT payable	OPERATING ACTIVITIES (indirect)	BS movement	-1,223.7469	616.5552	-1,531.8475	1,174.3766	637.1165	-1,819.0891	-5,583.4099	-144.492	5,592.3587	-637.6768	1,957.5193	2,013.0307	-3,191.1134	1,721.8612	-9,072.9449	2,558.1895	7,310.5705	-512.7529	-3,650.7961	2,823.7689	1,167.6789	1,034.9302	1,658.6441	-1,235.7657	1,050.6948	612.2702
Increase / (decrease) in contract liabilities	OPERATING ACTIVITIES (indirect)	BS movement	68,030.4779	12,668.8451	-8,960.6949	17,150.7985	-33,862.977	-9,738.2298	44,540.3243	-56,315.0002	-13,533.6019	56,180.4577	-21,216.1123	-51,177.4027	111,383.515	-42,230.7242	-33,089.8319	30,549.9956	-21,328.7694	-36,571.0697	55,883.1724	-34,181.5862	-21,701.5862	56,107.1724	-34,293.5862	-21,813.5862	3,766.8846	8,713.1154
Increase / (decrease) in the bonus provision	OPERATING ACTIVITIES (indirect)	BS movement	10,550.13	10,502.0958	-120,869.9245	10,964.0403	10,504.5711	10,496.8776	10,778.5935	10,836.0606	12,852.828	13,246.2	13,543.236	13,543.236	14,399.3259	14,399.3259	-123,868.6689	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	6,947.9444	40,371.6493
Cash generated from operations	OPERATING ACTIVITIES (indirect)		12,658.9305	188,212.6997	-89,989.4231	-50,129.1562	84,384.7792	-42,236.3548	92,870.8697	94,730.0644	-11,122.6347	105,145.4988	164,958.4289	68,440.2238	56,468.2757	193,370.9063	-83,502.4251	50,433.959	162,218.5374	90,144.5431	115,037.7244	145,815.857	79,340.3083	91,464.4459	159,090.426	44,545.5225	617,923.9262	1,104,428.0806
Interest paid	OPERATING ACTIVITIES (indirect)	Financing	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-336	-322	-308	-294	-280	-266	-252	-238	-224	-210	-196	-182	-5,124	-3,108
Income tax on distributions paid	OPERATING ACTIVITIES (indirect)	Financing	0	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	-87,189.4988	0	0	0	0	0	-78,974.36	-87,189.4988
NET CASH FROM OPERATING ACTIVITIES	OPERATING ACTIVITIES (indirect)		12,154.9305	187,722.6997	-90,465.4231	-50,591.1562	83,936.7792	-42,670.3548	13,476.5097	94,324.0644	-11,514.6347	104,767.4988	164,594.4289	68,090.2238	56,132.2757	193,048.9063	-83,810.4251	50,139.959	161,938.5374	89,878.5431	27,596.2256	145,577.857	79,116.3083	91,254.4459	158,894.426	44,363.5225	533,825.5662	1,014,130.5818
Capital expenditure	INVESTING ACTIVITIES	Fixed_Assets	-2,600	-1,400	-3,100	-5,200	-900	-2,400	-4,800	-1,600	-2,800	-5,400	-5,400	-2,800	-4,486	-2,926	-40,356	-5,526	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-2,926	-38,400	-76,702
Bank loan repaid	FINANCING ACTIVITIES	Financing	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-36,000	-36,000
Dividends paid	FINANCING ACTIVITIES	Financing	0	0	0	0	0	-280,000	0	0	0	0	0	0	0	0	0	0	0	-309,126.4049	0	0	0	0	0	0	-280,000	-309,126.4049
NET CASH FROM FINANCING ACTIVITIES	FINANCING ACTIVITIES		-3,000	-3,000	-3,000	-3,000	-3,000	-283,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-312,126.4049	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-316,000	-345,126.4049
NET CASH FLOW FOR THE MONTH	CASH		6,554.9305	183,322.6997	-96,565.4231	-58,791.1562	80,036.7792	-328,070.3548	5,676.5097	89,724.0644	-17,314.6347	96,367.4988	156,194.4289	62,290.2238	48,646.2757	187,122.9063	-127,166.4251	41,613.959	156,012.5374	-225,173.8618	21,670.2256	139,651.857	73,190.3083	85,328.4459	152,968.426	38,437.5225	179,425.5662	592,302.1769
Opening cash	CASH		486,000	492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	350,573.4146	446,940.9135	603,135.3424	665,425.5662	714,071.8419	901,194.7483	774,028.3232	815,642.2822	971,654.8196	746,480.9578	768,151.1834	907,803.0405	980,993.3487	1,066,321.7946	1,219,290.2206
CLOSING CASH (to balance sheet)	CASH		492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	350,573.4146	446,940.9135	603,135.3424	665,425.5662	714,071.8419	901,194.7483	774,028.3232	815,642.2822	971,654.8196	746,480.9578	768,151.1834	907,803.0405	980,993.3487	1,066,321.7946	1,219,290.2206	1,257,727.7431	665,425.5662	1,257,727.7431
Free cash flow (operating less capex)	CASH	memo	9,554.9305	186,322.6997	-93,565.4231	-55,791.1562	83,036.7792	-45,070.3548	8,676.5097	92,724.0644	-14,314.6347	99,367.4988	159,194.4289	65,290.2238	51,646.2757	190,122.9063	-124,166.4251	44,613.959	159,012.5374	86,952.5431	24,670.2256	142,651.857	76,190.3083	88,328.4459	155,968.426	41,437.5225	495,425.5662	937,428.5818
Receipts: GBP clients (converted on receipt)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	172,463.17	302,527.7704	158,536.4377	226,595.7984	265,649.122	171,088.074	261,480.4541	240,778.9536	188,817.7057	301,951.1429	261,833.7184	274,776.3798	220,321.6247	239,031.1739	211,727.6811	231,790.2291	265,529.4373	242,729.1005	243,604.2171	263,304.3311	231,818.642	240,403.7395	283,814.1777	251,037.4018	2,826,498.7271	2,925,111.7558
Receipts: USD clients (converted on receipt)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	91,337.7244	122,374.6839	99,282.2383	108,132.819	105,239.8441	85,004.1063	174,841.9074	130,935.67	125,670.5654	155,863.3456	188,572.331	215,384.952	222,016.5866	170,645.9671	140,933.3293	140,933.3293	145,984.8401	150,862.5441	136,993.5598	132,196.7582	118,594.3295	123,151.2911	132,265.2141	141,379.1371	1,602,640.1874	1,755,956.8864
Receipts: EUR clients	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	186,307.37	218,587.83	184,863.9	161,420.07	226,869.25	228,033.51	182,256.77	230,382.82	197,196.3393	192,783.5595	296,858.0993	226,052.6307	223,963.9567	299,169.3965	168,810.2239	285,968.7131	307,310.3334	257,389.4081	294,296.3668	287,297.8901	257,956.7505	282,333.1927	320,998.2897	293,905.9369	2,531,612.1489	3,279,400.4584
Net salaries (month end)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-124,429.784	-123,889.9054	-125,328.3284	-129,235.913	-123,763.7265	-123,677.2557	-126,997.5908	-127,643.4901	-126,234.392	-130,072.8	-133,008.904	-133,008.904	-141,119.6285	-141,119.6285	-142,889.776	-147,444.0118	-147,444.0118	-147,444.0118	-147,444.0118	-147,444.0118	-147,444.0118	-147,444.0118	-147,444.0118	-147,444.0118	-1,527,290.9939	-1,752,125.1393
Net bonus (March)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	-73,899.4619	0	0	0	0	0	0	0	0	0	0	0	-77,804.0197	0	0	0	0	0	0	0	0	0	-73,899.4619	-77,804.0197
Payroll taxes (TSD, 10th)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-86,983.07	-86,572.816	-86,152.0106	-144,873.7197	-90,044.893	-86,327.6955	-86,260.2963	-88,574.2792	-89,077.7219	-87,979.408	-90,697.2	-92,711.696	-92,711.696	-98,869.1359	-98,869.1359	-160,742.0736	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-1,116,254.8062	-1,278,183.1537
Freelancers	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-23,309.71	-5,812.3	-6,536.96	-6,054.52	-6,387.02	-11,482.73	-38,207.84	-57,873.22	-29,321.0571	-10,139.1165	-6,028	-6,028	-6,118.42	-6,299.26	-6,299.26	-6,907.867	-7,871.2899	-8,139.1556	-20,366.1288	-30,272.8748	-7,021.1233	-6,299.26	-6,299.26	-6,608.9437	-207,180.4737	-118,502.8431
Media platforms	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-160,513.37	-194,305.35	-194,859.5	-210,132.63	-243,567.19	-255,796.31	-232,273.71	-187,582.6	-235,049.1532	-262,037.3474	-288,241.0822	-353,750.419	-314,444.8169	-221,703.2453	-221,703.2453	-244,650.9801	-253,886.2155	-253,886.2155	-241,191.9047	-212,062.6581	-224,536.9321	-249,485.4801	-272,014.0281	-333,835.3981	-2,818,108.6618	-3,043,401.1196
Production suppliers	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	0	0	0	0	-16.72	-5,223.94	-6,911.34	-8,320.0556	-14,716.3889	-13,559.0556	-5,812.5	0	0	0	0	0	0	0	0	0	0	0	-48,747.5	-5,812.5
Overhead suppliers	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-37,789.4	-41,784.96	-41,958.93	-53,072.1	-46,559.27	-45,029.6	-39,146.74	-40,085.85	-39,471.626	-44,090	-47,438	-45,206	-43,699.496	-45,122.54	-44,341.34	-47,187.14	-46,461.74	-43,113.74	-43,113.74	-43,113.74	-43,113.74	-43,113.74	-43,113.74	-43,113.74	-521,632.476	-528,608.436
VAT paid / (credited)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-3,800	-2,576.2531	-3,192.8083	-1,660.9608	-2,835.3374	-3,472.4539	-1,653.3648	0	3,930.0451	-1,517.8216	-880.1448	-2,837.6641	-4,850.6948	-1,659.5814	-3,381.4426	0	3,133.3128	-4,177.2577	-3,664.5048	-13.7087	-2,837.4776	-4,005.1565	-5,040.0866	-6,698.7307	-20,496.7637	-33,195.3286
Income tax on distributions (10th)	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	-87,189.4988	0	0	0	0	0	-78,974.36	-87,189.4988
Capex incl. VAT	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-3,224	-1,736	-3,844	-6,448	-1,116	-2,976	-5,952	-1,984	-3,472	-6,696	-6,696	-3,472	-5,562.64	-3,628.24	-50,041.44	-6,852.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-3,628.24	-47,616	-95,110.48
Loan interest	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-504	-490	-476	-462	-448	-434	-420	-406	-392	-378	-364	-350	-336	-322	-308	-294	-280	-266	-252	-238	-224	-210	-196	-182	-5,124	-3,108
Loan principal	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-36,000	-36,000
Dividends	DIRECT METHOD (built from the cash lines of each schedule)	schedule cash line	0	0	0	0	0	-280,000	0	0	0	0	0	0	0	0	0	0	0	-309,126.4049	0	0	0	0	0	0	-280,000	-309,126.4049
NET CASH FLOW, DIRECT METHOD	DIRECT METHOD (built from the cash lines of each schedule)		6,554.9305	183,322.6997	-96,565.4231	-58,791.1562	80,036.7792	-328,070.3548	5,676.5097	89,724.0644	-17,314.6347	96,367.4988	156,194.4289	62,290.2238	48,646.2757	187,122.9063	-127,166.4251	41,613.959	156,012.5374	-225,173.8618	21,670.2256	139,651.857	73,190.3083	85,328.4459	152,968.426	38,437.5225	179,425.5662	592,302.1769
CHECK: indirect less direct (must be zero)	DIRECT METHOD (built from the cash lines of each schedule)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Operating drivers

Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

RETAINERS: FEES, SCOPED AND WORKED HOURS, OVERSERVICING AND INVOICING (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Active weight (1 in term; renewal or win probability after it)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Fee recognised (GBP)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	504,000	534,240
Fee recognised (EUR at the monthly average rate)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	fee / average rate	48,309.1787	48,206.5997	48,148.0208	48,426.7085	48,457.4382	48,582.996	48,908.2969	49,059.1162	50,554.5594	50,554.5594	50,554.5594	50,554.5594	53,587.833	53,587.833	53,587.833	53,587.833	53,587.833	53,587.833	53,587.833	53,587.833	53,587.833	53,587.833	53,587.833	53,587.833	590,316.5928	643,053.9961
Scoped hours	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	scoped hours x weight	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	430	5,160	5,160
Hours worked	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	514.8	496.4	508.5	486.3	483.1	490.1	489.4	494.7	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	462.7063	5,814.125	5,552.475
Overservice hours (worked above scope)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	worked - scoped	84.8	66.4	78.5	56.3	53.1	60.1	59.4	64.7	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	654.125	392.475
Overservice cost at standard (EUR)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	4,585.5	3,590.533	4,244.8319	3,044.3827	2,871.3449	3,249.865	3,212.013	3,498.6067	1,768.5673	1,768.5673	1,768.5673	1,768.5673	1,848.1529	1,848.1529	1,848.1529	1,848.1529	1,848.1529	1,848.1529	1,848.1529	1,848.1529	1,848.1529	1,848.1529	1,848.1529	1,848.1529	35,371.3464	22,177.8342
Invoiced (monthly in advance)	R-HAL Halvergate Money Ltd \| Product design and development retainers \| GBP \| Active	A: sales ledger; F: billing rule	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	44,520	504,000	534,240
Active weight (1 in term; renewal or win probability after it)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	1	0.9625
Fee recognised (GBP)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,105	15,105	15,105	15,105	15,105	15,105	15,105	15,105	15,105	180,000	180,945
Fee recognised (EUR at the monthly average rate)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	fee / average rate	17,253.2781	17,216.6428	17,195.7217	17,295.253	17,306.2279	17,351.07	17,467.2489	17,521.1129	18,055.1998	18,055.1998	18,055.1998	18,055.1998	18,055.1998	18,055.1998	18,055.1998	18,181.5862	18,181.5862	18,181.5862	18,181.5862	18,181.5862	18,181.5862	18,181.5862	18,181.5862	18,181.5862	210,827.3546	217,799.8752
Scoped hours	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	scoped hours x weight	180	180	180	180	180	180	180	180	180	180	180	180	180	180	180	171	171	171	171	171	171	171	171	171	2,160	2,079
Hours worked	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	197.3	199.6	191.4	197	191.6	200.9	199.6	205.1	188.9062	188.9062	188.9062	188.9062	188.9062	188.9062	188.9062	179.4609	179.4609	179.4609	179.4609	179.4609	179.4609	179.4609	179.4609	179.4609	2,338.125	2,181.8672
Overservice hours (worked above scope)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	worked - scoped	17.3	19.6	11.4	17	11.6	20.9	19.6	25.1	8.9062	8.9062	8.9062	8.9062	8.9062	8.9062	8.9062	8.4609	8.4609	8.4609	8.4609	8.4609	8.4609	8.4609	8.4609	8.4609	178.125	102.8672
Overservice cost at standard (EUR)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	804.8583	911.8626	530.369	790.9012	539.6738	972.3432	911.8626	1,167.7423	414.3508	414.3508	414.3508	414.3508	432.9966	432.9966	432.9966	411.3468	411.3468	411.3468	411.3468	411.3468	411.3468	411.3468	411.3468	411.3468	8,287.0162	5,001.1107
Invoiced (quarterly in advance)	R-THV Thornbury & Vale Home Ltd \| Brand and content retainers \| GBP \| Active	A: sales ledger; F: billing rule	45,000	0	0	45,000	0	0	45,000	0	0	45,000	0	0	45,000	0	0	45,315	0	0	45,315	0	0	45,315	0	0	180,000	180,945
Active weight (1 in term; renewal or win probability after it)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.95	0.95	0.95	0.95	0.95	0.95	1	0.975
Fee recognised (GBP)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,126	18,126	18,126	18,126	18,126	18,126	216,000	216,756
Fee recognised (EUR at the monthly average rate)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	fee / average rate	20,703.9337	20,659.9713	20,634.866	20,754.3036	20,767.4735	20,821.284	20,960.6987	21,025.3355	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,817.9034	21,817.9034	21,817.9034	21,817.9034	21,817.9034	21,817.9034	252,992.8255	260,904.8592
Scoped hours	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	scoped hours x weight	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	190	180.5	180.5	180.5	180.5	180.5	180.5	2,280	2,223
Hours worked	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	209.5	214	205.8	214.7	207.3	195.5	216.4	199.9	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	188.9966	188.9966	188.9966	188.9966	188.9966	188.9966	2,458.875	2,327.6419
Overservice hours (worked above scope)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	worked - scoped	19.5	24	15.8	24.7	17.3	5.5	26.4	9.9	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.4966	8.4966	8.4966	8.4966	8.4966	8.4966	178.875	104.6419
Overservice cost at standard (EUR)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	1,054.4487	1,297.783	854.3738	1,335.635	935.4853	297.4086	1,427.5613	535.3355	483.627	483.627	483.627	483.627	505.3902	505.3902	505.3902	505.3902	505.3902	505.3902	480.1207	480.1207	480.1207	480.1207	480.1207	480.1207	9,672.539	5,913.0649
Invoiced (monthly in advance)	R-RVM Ravenmoor Travel Ltd \| Product design and development retainers \| GBP \| Active	A: sales ledger; F: billing rule	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,126	18,126	18,126	18,126	18,126	18,126	216,000	216,756
Active weight (1 in term; renewal or win probability after it)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	Client_Register	0	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.5833	0.9417
Fee recognised (GBP)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,971	10,971	10,971	10,971	10,971	10,971	10,971	80,500	134,297
Fee recognised (EUR at the monthly average rate)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	fee / average rate	0	0	0	0	0	13,302.487	13,391.5575	13,432.8533	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	95,496.1771	161,650.6112
Scoped hours	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	scoped hours x weight	0	0	0	0	0	140	140	140	140	140	140	140	140	140	140	140	140	126	126	126	126	126	126	126	980	1,582
Hours worked	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	153.2	146.2	148.3	144.6167	144.6167	144.6167	144.6167	144.6167	144.6167	144.6167	144.6167	144.6167	130.155	130.155	130.155	130.155	130.155	130.155	130.155	1,026.1667	1,634.1683
Overservice hours (worked above scope)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	worked - scoped	0	0	0	0	0	13.2	6.2	8.3	4.6167	4.6167	4.6167	4.6167	4.6167	4.6167	4.6167	4.6167	4.6167	4.155	4.155	4.155	4.155	4.155	4.155	4.155	46.1667	52.1683
Overservice cost at standard (EUR)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	overservice hours x standard cost rate of the work type	0	0	0	0	0	614.1115	288.4463	386.1459	214.784	214.784	214.784	214.784	224.4492	224.4492	224.4492	224.4492	224.4492	202.0043	202.0043	202.0043	202.0043	202.0043	202.0043	202.0043	2,147.8395	2,536.2763
Invoiced (monthly in advance)	R-PEL Pellworth Health Ltd \| Brand and content retainers \| GBP \| Active	A: sales ledger; F: billing rule	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,971	10,971	10,971	10,971	10,971	10,971	10,971	80,500	134,297
Active weight (1 in term; renewal or win probability after it)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	Client_Register	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.75	0.9625
Fee recognised (USD)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	A: ledger; F: fee x weight x renewal uplift	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	234,000	313,638
Fee recognised (EUR at the monthly average rate)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	fee / average rate	0	0	0	22,413.7931	22,273.6229	22,571.4038	22,728.2661	22,529.3531	23,114.9739	23,114.9739	23,114.9739	23,114.9739	23,114.9739	23,114.9739	23,114.9739	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	204,976.3345	278,835.9299
Scoped hours	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	scoped hours x weight	0	0	0	215	215	215	215	215	215	215	215	215	215	215	215	204.25	204.25	204.25	204.25	204.25	204.25	204.25	204.25	204.25	1,935	2,483.25
Hours worked	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	251.1	255.8	244.2	240.5	235.1	230.17	230.17	230.17	230.17	230.17	230.17	230.17	218.6615	218.6615	218.6615	218.6615	218.6615	218.6615	218.6615	218.6615	218.6615	2,147.38	2,658.4635
Overservice hours (worked above scope)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	worked - scoped	0	0	0	36.1	40.8	29.2	25.5	20.1	15.17	15.17	15.17	15.17	15.17	15.17	15.17	14.4115	14.4115	14.4115	14.4115	14.4115	14.4115	14.4115	14.4115	14.4115	212.38	175.2135
Overservice cost at standard (EUR)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	overservice hours x standard cost rate of the work type	0	0	0	1,952.082	2,206.2311	1,578.9693	1,378.8945	1,086.8933	820.307	820.307	820.307	820.307	857.2208	857.2208	857.2208	814.3598	814.3598	814.3598	814.3598	814.3598	814.3598	814.3598	814.3598	814.3598	11,484.2982	9,900.9006
Invoiced (monthly in advance)	R-QFS Quillfield Software Inc. \| Product design and development retainers \| USD \| Active	A: sales ledger; F: billing rule	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	234,000	313,638
Active weight (1 in term; renewal or win probability after it)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.95	0.95	0.95	0.95	0.95	0.95	1	0.975
Fee recognised (USD)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	A: ledger; F: fee x weight x renewal uplift	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,077	11,077	11,077	11,077	11,077	11,077	132,000	132,462
Fee recognised (EUR at the monthly average rate)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	fee / average rate	9,294.8583	9,273.3097	9,440.8445	9,482.7586	9,423.4558	9,549.4401	9,615.8049	9,531.6494	9,779.412	9,779.412	9,779.412	9,779.412	9,779.412	9,779.412	9,779.412	9,779.412	9,779.412	9,779.412	9,847.8679	9,847.8679	9,847.8679	9,847.8679	9,847.8679	9,847.8679	114,729.7694	117,763.6796
Scoped hours	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	scoped hours x weight	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	95	90.25	90.25	90.25	90.25	90.25	90.25	1,140	1,111.5
Hours worked	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	95.2	98.3	102.8	107.6	110.5	94.7	104.2	102.6	98.4938	98.4938	98.4938	98.4938	98.4938	98.4938	98.4938	98.4938	98.4938	98.4938	93.5691	93.5691	93.5691	93.5691	93.5691	93.5691	1,209.875	1,152.3769
Overservice hours (worked above scope)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	worked - scoped	0.2	3.3	7.8	12.6	15.5	-0.3	9.2	7.6	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.3191	3.3191	3.3191	3.3191	3.3191	3.3191	69.875	40.8769
Overservice cost at standard (EUR)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	overservice hours x standard cost rate of the work type	9.3343	154.0157	364.037	588.0598	723.4069	-14.0014	429.377	354.7027	163.0582	163.0582	163.0582	163.0582	170.3959	170.3959	170.3959	170.3959	170.3959	170.3959	161.8761	161.8761	161.8761	161.8761	161.8761	161.8761	3,261.1648	1,993.6316
Invoiced (monthly in advance)	R-HOC Harrowgate Outdoor Co. \| Performance retainers \| USD \| Active	A: sales ledger; F: billing rule	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,077	11,077	11,077	11,077	11,077	11,077	132,000	132,462
Active weight (1 in term; renewal or win probability after it)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	1	0.9
Fee recognised (EUR)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	222,000	211,788
Fee recognised (EUR at the monthly average rate)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	fee / average rate	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	222,000	211,788
Scoped hours	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	scoped hours x weight	190	190	190	190	190	190	190	190	190	190	190	190	171	171	171	171	171	171	171	171	171	171	171	171	2,280	2,052
Hours worked	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	245.6	240.6	251	231.6	238.5	233.5	245.4	234.3	215.0312	215.0312	215.0312	215.0312	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	2,780.625	2,322.3375
Overservice hours (worked above scope)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	worked - scoped	55.6	50.6	61	41.6	48.5	43.5	55.4	44.3	25.0312	25.0312	25.0312	25.0312	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	500.625	270.3375
Overservice cost at standard (EUR)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	2,586.7121	2,354.0941	2,837.9396	1,935.3817	2,256.3946	2,023.7766	2,577.4074	2,060.9955	1,164.5439	1,164.5439	1,164.5439	1,164.5439	1,095.2535	1,095.2535	1,095.2535	1,095.2535	1,095.2535	1,095.2535	1,095.2535	1,095.2535	1,095.2535	1,095.2535	1,095.2535	1,095.2535	23,290.877	13,143.0419
Invoiced (monthly in advance)	R-VOL Voltaro Energie GmbH \| Brand and content retainers \| EUR \| Active	A: sales ledger; F: billing rule	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	222,000	211,788
Active weight (1 in term; renewal or win probability after it)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.95	0.95	0.95	1	0.9875
Fee recognised (EUR)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,112	16,112	16,112	192,000	192,336
Fee recognised (EUR at the monthly average rate)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	fee / average rate	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,112	16,112	16,112	192,000	192,336
Scoped hours	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	scoped hours x weight	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	165	156.75	156.75	156.75	1,980	1,955.25
Hours worked	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	178.1	172.8	166.2	163.9	177	178.5	180.7	168.5	169.1062	169.1062	169.1062	169.1062	169.1062	169.1062	169.1062	169.1062	169.1062	169.1062	169.1062	169.1062	169.1062	160.6509	160.6509	160.6509	2,062.125	2,003.9091
Overservice hours (worked above scope)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	worked - scoped	13.1	7.8	1.2	-1.1	12	13.5	15.7	3.5	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	3.9009	3.9009	3.9009	82.125	48.6591
Overservice cost at standard (EUR)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	611.3955	364.037	56.0057	-51.3386	560.0569	630.064	732.7411	163.3499	191.6445	191.6445	191.6445	191.6445	200.2685	200.2685	200.2685	200.2685	200.2685	200.2685	200.2685	200.2685	200.2685	190.2551	190.2551	190.2551	3,832.8896	2,373.1815
Invoiced (quarterly in advance)	R-LIN Lindgrove Retail B.V. \| Performance retainers \| EUR \| Active	A: sales ledger; F: billing rule	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,000	0	0	48,336	0	0	192,000	192,336
Active weight (1 in term; renewal or win probability after it)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	0.9	1	0.9167
Fee recognised (EUR)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	168,000	161,560
Fee recognised (EUR at the monthly average rate)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	fee / average rate	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	168,000	161,560
Scoped hours	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	scoped hours x weight	145	145	145	145	145	145	145	145	145	145	145	145	145	145	130.5	130.5	130.5	130.5	130.5	130.5	130.5	130.5	130.5	130.5	1,740	1,595
Hours worked	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	161.4	155	163.4	151.2	153.9	147.7	157.4	159.2	150.575	150.575	150.575	150.575	150.575	150.575	135.5175	135.5175	135.5175	135.5175	135.5175	135.5175	135.5175	135.5175	135.5175	135.5175	1,851.5	1,656.325
Overservice hours (worked above scope)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	worked - scoped	16.4	10	18.4	6.2	8.9	2.7	12.4	14.2	5.575	5.575	5.575	5.575	5.575	5.575	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	111.5	61.325
Overservice cost at standard (EUR)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	765.4111	466.7141	858.754	289.3627	415.3756	126.0128	578.7255	662.734	260.1931	260.1931	260.1931	260.1931	271.9018	271.9018	244.7116	244.7116	244.7116	244.7116	244.7116	244.7116	244.7116	244.7116	244.7116	244.7116	5,203.8623	2,990.9199
Invoiced (monthly in advance)	R-VDH Veldhaven Fietsen B.V. \| Performance retainers \| EUR \| Active	A: sales ledger; F: billing rule	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	168,000	161,560
Active weight (1 in term; renewal or win probability after it)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	Client_Register	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.75	0
Fee recognised (EUR)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	A: ledger; F: fee x weight x renewal uplift	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Fee recognised (EUR at the monthly average rate)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	fee / average rate	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Scoped hours	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	scoped hours x weight	140	140	140	140	140	140	140	140	140	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,260	0
Hours worked	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	A: timesheets; F: scoped x (1 + forecast overservicing)	173.7	166.3	168.2	171.9	166.6	163.6	160.1	174.5	154.0563	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,498.9562	0
Overservice hours (worked above scope)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	worked - scoped	33.7	26.3	28.2	31.9	26.6	23.6	20.1	34.5	14.0563	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	238.9563	0
Overservice cost at standard (EUR)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	overservice hours x standard cost rate of the work type	1,567.8453	1,223.5707	1,311.9655	1,484.1028	1,237.5277	1,097.9569	935.1244	1,605.0642	653.9473	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,117.1049	0
Invoiced (monthly in advance)	R-SRV Sarvivaara Oy \| Brand and content retainers \| EUR \| Ending	A: sales ledger; F: billing rule	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Active weight (1 in term; renewal or win probability after it)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	Client_Register	1	1	1	1	1	1	1	1	1	1	1	1	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	1	0.95
Fee recognised (EUR)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	A: ledger; F: fee x weight x renewal uplift	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	108,000	108,756
Fee recognised (EUR at the monthly average rate)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	fee / average rate	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	108,000	108,756
Scoped hours	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	scoped hours x weight	95	95	95	95	95	95	95	95	95	95	95	95	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	90.25	1,140	1,083
Hours worked	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	A: timesheets; F: scoped x (1 + forecast overservicing)	104	95.3	100.5	104.8	99.5	102.4	96.2	102.7	97.8375	97.8375	97.8375	97.8375	92.9456	92.9456	92.9456	92.9456	92.9456	92.9456	92.9456	92.9456	92.9456	92.9456	92.9456	92.9456	1,196.75	1,115.3475
Overservice hours (worked above scope)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	worked - scoped	9	0.3	5.5	9.8	4.5	7.4	1.2	7.7	2.8375	2.8375	2.8375	2.8375	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	56.75	32.3475
Overservice cost at standard (EUR)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	overservice hours x standard cost rate of the work type	420.0427	14.0014	256.6928	457.3798	210.0213	345.3684	56.0057	359.3699	132.4301	132.4301	132.4301	132.4301	131.47	131.47	131.47	131.47	131.47	131.47	131.47	131.47	131.47	131.47	131.47	131.47	2,648.6026	1,577.6401
Invoiced (monthly in advance)	R-TAM Tammevalla Kodu OÜ \| Performance retainers \| EUR \| Active	A: sales ledger; F: billing rule	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	108,000	108,756
Active weight (1 in term; renewal or win probability after it)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0	0.6
Fee recognised (USD)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	0	108,000
Fee recognised (EUR at the monthly average rate)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	0	96,016.0453
Scoped hours	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	78	78	78	78	78	78	78	78	78	78	78	78	0	936
Hours worked	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	84.24	84.24	84.24	84.24	84.24	84.24	84.24	84.24	84.24	84.24	84.24	84.24	0	1,010.88
Overservice hours (worked above scope)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	0	74.88
Overservice cost at standard (EUR)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	352.6076	352.6076	352.6076	352.6076	352.6076	352.6076	352.6076	352.6076	352.6076	352.6076	352.6076	352.6076	0	4,231.2917
Invoiced (monthly in advance)	R-FER Ferncliff Robotics Inc. \| Product design and development retainers \| USD \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	0	108,000
Active weight (1 in term; renewal or win probability after it)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0	0.6667
Fee recognised (GBP)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	0	0	9,600	9,600	9,600	9,600	9,600	9,600	9,600	9,600	9,600	9,600	0	96,000
Fee recognised (EUR at the monthly average rate)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,555.3279	11,555.3279	11,555.3279	11,555.3279	11,555.3279	11,555.3279	11,555.3279	11,555.3279	11,555.3279	11,555.3279	0	115,553.2787
Scoped hours	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	0	0	100	100	100	100	100	100	100	100	100	100	0	1,000
Hours worked	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	108	108	108	108	108	108	108	108	108	108	0	1,080
Overservice hours (worked above scope)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8	8	8	8	8	8	8	8	8	8	0	80
Overservice cost at standard (EUR)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	390.173	390.173	390.173	390.173	390.173	390.173	390.173	390.173	390.173	390.173	0	3,901.7299
Invoiced (monthly in advance)	R-HAL2 Halvergate Money Ltd \| Performance retainers \| GBP \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	0	0	9,600	9,600	9,600	9,600	9,600	9,600	9,600	9,600	9,600	9,600	0	96,000
Active weight (1 in term; renewal or win probability after it)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0	0.4125
Fee recognised (EUR)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,050	6,050	6,050	6,050	6,050	6,050	6,050	6,050	6,050	0	54,450
Fee recognised (EUR at the monthly average rate)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,050	6,050	6,050	6,050	6,050	6,050	6,050	6,050	6,050	0	54,450
Scoped hours	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	60.5	60.5	60.5	60.5	60.5	60.5	60.5	60.5	60.5	0	544.5
Hours worked	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	65.34	65.34	65.34	65.34	65.34	65.34	65.34	65.34	65.34	0	588.06
Overservice hours (worked above scope)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4.84	4.84	4.84	4.84	4.84	4.84	4.84	4.84	4.84	0	43.56
Overservice cost at standard (EUR)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	235.3071	235.3071	235.3071	235.3071	235.3071	235.3071	235.3071	235.3071	235.3071	0	2,117.7636
Invoiced (monthly in advance)	R-AUR Aurelwyn Hotels B.V. \| Brand and content retainers \| EUR \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,050	6,050	6,050	6,050	6,050	6,050	6,050	6,050	6,050	0	54,450
Active weight (1 in term; renewal or win probability after it)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	Client_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0	0.2917
Fee recognised (GBP)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	A: ledger; F: fee x weight x renewal uplift	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,000	10,000	10,000	10,000	10,000	10,000	10,000	0	70,000
Fee recognised (EUR at the monthly average rate)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	fee / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	12,036.7999	12,036.7999	12,036.7999	12,036.7999	12,036.7999	12,036.7999	12,036.7999	0	84,257.5991
Scoped hours	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	scoped hours x weight	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	105	105	105	105	105	105	105	0	735
Hours worked	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	A: timesheets; F: scoped x (1 + forecast overservicing)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	113.4	113.4	113.4	113.4	113.4	113.4	113.4	0	793.8
Overservice hours (worked above scope)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	worked - scoped	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8.4	8.4	8.4	8.4	8.4	8.4	8.4	0	58.8
Overservice cost at standard (EUR)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	overservice hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	408.3842	408.3842	408.3842	408.3842	408.3842	408.3842	408.3842	0	2,858.6891
Invoiced (monthly in advance)	R-BRK Brackenholt Insurance Ltd \| Brand and content retainers \| GBP \| Pipeline	A: sales ledger; F: billing rule	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,000	10,000	10,000	10,000	10,000	10,000	10,000	0	70,000
Brand and content retainers: fees (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	49,253.2781	49,216.6428	49,195.7217	49,295.253	49,306.2279	62,653.557	62,858.8064	62,953.9662	63,897.5196	50,397.5196	50,397.5196	50,397.5196	49,546.5196	49,546.5196	49,546.5196	55,722.906	55,722.906	67,122.9592	67,122.9592	67,122.9592	67,122.9592	67,122.9592	67,122.9592	67,122.9592	649,823.5317	729,946.0855
Brand and content retainers: scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	510	510	510	510	510	650	650	650	650	510	510	510	491	491	491	542.5	542.5	633.5	633.5	633.5	633.5	633.5	633.5	633.5	6,680	6,992.5
Brand and content retainers: hours worked	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	616.6	606.5	610.6	600.5	596.7	751.2	751.3	762.2	702.6104	548.5542	548.5542	548.5542	527.051	527.051	527.051	582.9457	582.9457	681.8841	681.8841	681.8841	681.8841	681.8841	681.8841	681.8841	7,643.8729	7,520.233
Performance retainers: fees (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	48,294.8583	48,273.3097	48,440.8445	48,482.7586	48,423.4558	48,549.4401	48,615.8049	48,531.6494	48,779.412	48,779.412	48,779.412	48,779.412	48,842.412	48,842.412	59,753.7399	59,753.7399	59,753.7399	59,753.7399	59,822.1958	59,822.1958	59,822.1958	59,934.1958	59,934.1958	59,934.1958	582,729.7694	695,968.9583
Performance retainers: scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	500	500	500	500	500	500	500	500	500	500	500	500	495.25	495.25	580.75	580.75	580.75	580.75	576	576	576	567.75	567.75	567.75	6,000	6,744.75
Performance retainers: hours worked	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	538.7	521.4	532.9	527.5	540.9	523.3	538.5	533	516.0125	516.0125	516.0125	516.0125	511.1206	511.1206	604.0631	604.0631	604.0631	604.0631	599.1384	599.1384	599.1384	590.6831	590.6831	590.6831	6,320.25	7,007.9584
Product design and development retainers: fees (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	69,013.1125	68,866.571	68,782.8868	91,594.8052	91,498.5346	91,975.6837	92,597.2617	92,613.8049	95,335.7731	95,335.7731	95,335.7731	95,335.7731	106,370.3838	106,370.3838	106,370.3838	106,532.1886	106,532.1886	106,532.1886	106,683.8523	106,683.8523	106,683.8523	106,683.8523	106,683.8523	106,683.8523	1,048,285.7529	1,278,810.8306
Product design and development retainers: scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	620	620	620	835	835	835	835	835	835	835	835	835	913	913	913	902.25	902.25	902.25	892.75	892.75	892.75	892.75	892.75	892.75	9,375	10,802.25
Product design and development retainers: hours worked	TOTALS BY RETAINER TYPE (EUR and hours)	sum of contracts	724.3	710.4	714.3	952.1	946.2	929.8	946.3	929.7	891.82	891.82	891.82	891.82	976.06	976.06	976.06	964.5515	964.5515	964.5515	954.6043	954.6043	954.6043	954.6043	954.6043	954.6043	10,420.38	11,549.4604
RETAINER FEES (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)	all contracts	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	208,012.7048	194,512.7048	194,512.7048	194,512.7048	204,759.3154	204,759.3154	215,670.6433	222,008.8345	222,008.8345	233,408.8877	233,629.0072	233,629.0072	233,629.0072	233,741.0072	233,741.0072	233,741.0072	2,280,839.054	2,704,725.8744
of which contracts signed at the last actual month	TOTALS BY RETAINER TYPE (EUR and hours)		166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	208,012.7048	194,512.7048	194,512.7048	194,512.7048	196,757.9783	196,757.9783	196,113.9783	196,402.1695	196,402.1695	195,765.4228	195,985.5424	195,985.5424	195,985.5424	196,097.5424	196,097.5424	196,097.5424	2,280,839.054	2,354,448.9512
of which pipeline contracts (win-weighted)	TOTALS BY RETAINER TYPE (EUR and hours)		0	0	0	0	0	0	0	0	0	0	0	0	8,001.3371	8,001.3371	19,556.665	25,606.665	25,606.665	37,643.4649	37,643.4649	37,643.4649	37,643.4649	37,643.4649	37,643.4649	37,643.4649	0	350,276.9231
Scoped hours	TOTALS BY RETAINER TYPE (EUR and hours)		1,630	1,630	1,630	1,845	1,845	1,985	1,985	1,985	1,985	1,845	1,845	1,845	1,899.25	1,899.25	1,984.75	2,025.5	2,025.5	2,116.5	2,102.25	2,102.25	2,102.25	2,094	2,094	2,094	22,055	24,539.5
Hours worked	TOTALS BY RETAINER TYPE (EUR and hours)		1,879.6	1,838.3	1,857.8	2,080.1	2,083.8	2,204.3	2,236.1	2,224.9	2,110.4429	1,956.3867	1,956.3867	1,956.3867	2,014.2317	2,014.2317	2,107.1742	2,151.5604	2,151.5604	2,250.4987	2,235.6268	2,235.6268	2,235.6268	2,227.1715	2,227.1715	2,227.1715	24,384.5029	26,077.6518
Overservice hours	TOTALS BY RETAINER TYPE (EUR and hours)		249.6	208.3	227.8	235.1	238.8	219.3	251.1	239.9	125.4429	111.3867	111.3867	111.3867	114.9817	114.9817	122.4242	126.0604	126.0604	133.9987	133.3768	133.3768	133.3768	133.1715	133.1715	133.1715	2,329.5029	1,538.1518
Overservice cost at standard (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)		12,405.548	10,376.6116	11,314.9693	11,825.9492	11,955.5181	10,921.8751	12,528.1587	11,880.9399	6,267.4532	5,613.5059	5,613.5059	5,613.5059	6,090.107	6,090.107	6,453.0898	6,623.886	6,623.886	7,009.8252	6,976.0359	6,976.0359	6,976.0359	6,966.0225	6,966.0225	6,966.0225	116,317.5406	80,717.076
Overservicing % (hours above scope / scoped hours)	TOTALS BY RETAINER TYPE (EUR and hours)		15.31%	12.78%	13.98%	12.74%	12.94%	11.05%	12.65%	12.09%	6.32%	6.04%	6.04%	6.04%	6.05%	6.05%	6.17%	6.22%	6.22%	6.33%	6.34%	6.34%	6.34%	6.36%	6.36%	6.36%	10.56%	6.27%
Active retainers (weighted count)	TOTALS BY RETAINER TYPE (EUR and hours)		9	9	9	10	10	11	11	11	11	10	10	10	10.45	10.45	11.15	11.6	11.6	12	11.9	11.9	11.9	11.85	11.85	11.85	10.0833	11.5417
Retainer fee per hour worked (EUR)	TOTALS BY RETAINER TYPE (EUR and hours)		88.6153	90.4948	89.5788	91.0402	90.8092	92.1738	91.2624	91.7342	98.5635	99.4245	99.4245	99.4245	101.6563	101.6563	102.3506	103.185	103.185	103.7143	104.5027	104.5027	104.5027	104.9497	104.9497	104.9497	93.5364	103.7182

FIXED-FEE PROJECTS: HOURS, PERCENTAGE OF COMPLETION, MILESTONE INVOICING AND PRODUCTION RECHARGES (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Programme position (elapsed share of duration)	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	effective dates, Project_Register	0.8571	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	3x^2 - 2x^3	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed		0.8017	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: timesheets; F: remaining hours x S-curve	133.4	51.6	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	185	0
Hours to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	opening + hours	738.4	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790
Estimated hours at completion	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: hours to date + estimate to complete; F: Project_Register	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790	790
Percentage complete	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	hours to date / hours at completion	93.47%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: contract incl. approved change requests; F: probability-weighted fee	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
Fee revenue to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: ledger; F: % complete x contract value	69,166.58	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
FEE REVENUE IN THE MONTH (EUR)	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	change in revenue to date	10,258.69	4,833.42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15,092.11	0
Milestone invoicing due to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	contract value x (deposit at start + interim at mid-point + balance at completion)	51,800	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
Fee invoiced	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	A: sales ledger; F: tops up to the milestone due	0	22,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	22,200	0
Fee invoiced to date	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed		51,800	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
Contract position: revenue to date less invoiced	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	+ unbilled work / - invoiced ahead	17,366.58	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed		4,833.42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2505 Ecommerce website rebuild \| Carrigmore Foods DAC \| EUR \| Completed	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	effective dates, Project_Register	0.625	0.75	0.875	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	3x^2 - 2x^3	0.6836	0.8438	0.957	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed		0.5	0.6836	0.8438	0.957	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: timesheets; F: remaining hours x S-curve	255.6	228.2	150.5	58.9	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	693.2	0
Hours to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	opening + hours	862.4	1,090.6	1,241.1	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300
Estimated hours at completion	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: hours to date + estimate to complete; F: Project_Register	1,250	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300
Percentage complete	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	hours to date / hours at completion	68.99%	83.89%	95.47%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: contract incl. approved change requests; F: probability-weighted fee	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee revenue to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: ledger; F: % complete x contract value	82,790.4	100,670.77	114,563.08	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
FEE REVENUE IN THE MONTH (GBP)	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	change in revenue to date	24,537.6	17,880.37	13,892.31	5,436.92	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,747.2	0
Milestone invoicing due to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	contract value x (deposit at start + interim at mid-point + balance at completion)	84,000	84,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee invoiced	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	A: sales ledger; F: tops up to the milestone due	48,000	0	0	36,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	84,000	0
Fee invoiced to date	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed		84,000	84,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Contract position: revenue to date less invoiced	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	+ unbilled work / - invoiced ahead	-1,209.6	16,670.77	30,563.08	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed		37,209.6	19,329.23	5,436.92	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2506 Booking app redesign \| Ravenmoor Travel Ltd \| GBP \| Completed	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	effective dates, Project_Register	0.6667	0.8333	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	3x^2 - 2x^3	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed		0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: timesheets; F: remaining hours x S-curve	246.3	156.6	91.3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	494.2	0
Hours to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	opening + hours	752.1	908.7	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
Estimated hours at completion	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: hours to date + estimate to complete; F: Project_Register	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
Percentage complete	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	hours to date / hours at completion	75.21%	90.87%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: contract incl. approved change requests; F: probability-weighted fee	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
Fee revenue to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: ledger; F: % complete x contract value	71,449.5	86,326.5	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
FEE REVENUE IN THE MONTH (GBP)	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	change in revenue to date	23,398.5	14,877	8,673.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	46,949	0
Milestone invoicing due to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	contract value x (deposit at start + interim at mid-point + balance at completion)	66,500	66,500	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
Fee invoiced	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	A: sales ledger; F: tops up to the milestone due	38,000	0	28,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	66,500	0
Fee invoiced to date	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed		66,500	66,500	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
Contract position: revenue to date less invoiced	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	+ unbilled work / - invoiced ahead	4,949.5	19,826.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed		23,550.5	8,673.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2507 Web platform rebuild \| Halvergate Money Ltd \| GBP \| Completed	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	effective dates, Project_Register	0	0.1111	0.2222	0.3333	0.4444	0.5556	0.6667	0.7778	0.8889	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	3x^2 - 2x^3	0	0.0343	0.1262	0.2593	0.417	0.583	0.7407	0.8738	0.9657	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress		0	0	0.0343	0.1262	0.2593	0.417	0.583	0.7407	0.8738	0.9657	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: timesheets; F: remaining hours x S-curve	0	74.8	229.1	313.3	455.4	504.2	476.8	433.7	320.118	119.447	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,926.865	0
Hours to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	opening + hours	0	74.8	303.9	617.2	1,072.6	1,576.8	2,053.6	2,487.3	2,807.418	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865
Estimated hours at completion	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: hours to date + estimate to complete; F: Project_Register	2,926.865	2,300	2,300	2,300	2,600	2,750	2,900	2,950	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865	2,926.865
Percentage complete	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	hours to date / hours at completion	0%	3.25%	13.21%	26.83%	41.25%	57.34%	70.81%	84.32%	95.92%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	210,000	210,000	210,000	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
Fee revenue to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: ledger; F: % complete x contract value	0	6,829.57	27,747.39	56,353.04	93,439.96	129,870.98	160,393.24	190,974.05	217,256.4073	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
FEE REVENUE IN THE MONTH (USD)	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	change in revenue to date	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	26,282.3573	9,243.5927	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Milestone invoicing due to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	63,000	63,000	63,000	67,950	158,550	158,550	158,550	158,550	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
Fee invoiced	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	A: sales ledger; F: tops up to the milestone due	0	63,000	0	0	16,500	67,500	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Fee invoiced to date	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress		0	63,000	63,000	63,000	79,500	147,000	147,000	147,000	158,550	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500	226,500
Contract position: revenue to date less invoiced	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	+ unbilled work / - invoiced ahead	0	-56,170.43	-35,252.61	-6,646.96	13,939.96	-17,129.02	13,393.24	43,974.05	58,706.4073	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress		0	203,170.43	182,252.61	153,646.96	133,060.04	96,629.02	66,106.76	35,525.95	9,243.5927	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2601 Marketing website and design system rebuild \| Norbeck Analytics Inc. \| USD \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	effective dates, Project_Register	0	0	0.1429	0.2857	0.4286	0.5714	0.7143	0.8571	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	3x^2 - 2x^3	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress		0	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	78.3	213.1	292.9	358.3	302.7	164.3	85.88	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,495.48	0
Hours to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	opening + hours	0	0	78.3	291.4	584.3	942.6	1,245.3	1,409.6	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48
Estimated hours at completion	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: hours to date + estimate to complete; F: Project_Register	1,495.48	1,495.48	1,450	1,450	1,450	1,500	1,500	1,500	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48	1,495.48
Percentage complete	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	hours to date / hours at completion	0%	0%	5.4%	20.1%	40.3%	62.84%	83.02%	93.97%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
Fee revenue to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: ledger; F: % complete x contract value	0	0	7,830	29,140	58,430	91,118	120,379	136,261.33	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
FEE REVENUE IN THE MONTH (GBP)	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	change in revenue to date	0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	8,738.67	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,000	0
Milestone invoicing due to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	43,500	43,500	43,500	101,500	101,500	101,500	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
Fee invoiced	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	43,500	0	0	58,000	0	0	43,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,000	0
Fee invoiced to date	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress		0	0	43,500	43,500	43,500	101,500	101,500	101,500	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000	145,000
Contract position: revenue to date less invoiced	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	+ unbilled work / - invoiced ahead	0	0	-35,670	-14,360	14,930	-10,382	18,879	34,761.33	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress		0	0	137,170	115,860	86,570	53,882	24,621	8,738.67	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2602 Learning platform UX and front-end build \| Tidewell Learning Ltd \| GBP \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	effective dates, Project_Register	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	3x^2 - 2x^3	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress		0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	0	0	70.7	181.2	198.1	271.6	182.1286	72.8514	0	0	0	0	0	0	0	0	0	0	0	0	0	0	976.58	0
Hours to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	opening + hours	0	0	0	0	70.7	251.9	450	721.6	903.7286	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58
Estimated hours at completion	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: hours to date + estimate to complete; F: Project_Register	976.58	976.58	976.58	976.58	960	960	960	990	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58	976.58
Percentage complete	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	hours to date / hours at completion	0%	0%	0%	0%	7.36%	26.24%	46.88%	72.89%	92.54%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Fee revenue to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: ledger; F: % complete x contract value	0	0	0	0	7,070	25,190	45,000	69,973.33	88,838.5415	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
FEE REVENUE IN THE MONTH (EUR)	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	change in revenue to date	0	0	0	0	7,070	18,120	19,810	24,973.33	18,865.2115	7,161.4585	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Milestone invoicing due to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	28,800	28,800	28,800	67,200	67,200	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Fee invoiced	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	0	0	28,800	0	0	38,400	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Fee invoiced to date	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress		0	0	0	0	28,800	28,800	28,800	67,200	67,200	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000
Contract position: revenue to date less invoiced	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	+ unbilled work / - invoiced ahead	0	0	0	0	-21,730	-3,610	16,200	2,773.33	21,638.5415	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress		0	0	0	0	88,930	70,810	51,000	26,026.67	7,161.4585	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2603 Brand identity and website \| Van Lienden Mobiliteit B.V. \| EUR \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	effective dates, Project_Register	0	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	3x^2 - 2x^3	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress		0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	42.2	103.6	129.6	130.1781	100.137	40.0548	0	0	0	0	0	0	0	0	0	0	0	0	0	545.77	0
Hours to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	opening + hours	0	0	0	0	0	42.2	145.8	275.4	405.5781	505.7152	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77
Estimated hours at completion	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: hours to date + estimate to complete; F: Project_Register	545.77	545.77	545.77	545.77	545.77	560	560	560	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77	545.77
Percentage complete	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	hours to date / hours at completion	0%	0%	0%	0%	0%	7.54%	26.04%	49.18%	74.31%	92.66%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Fee revenue to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: ledger; F: % complete x contract value	0	0	0	0	0	4,220	14,580	27,540	41,615.289	51,890.0826	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
FEE REVENUE IN THE MONTH (GBP)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	change in revenue to date	0	0	0	0	0	4,220	10,360	12,960	14,075.289	10,274.7935	4,109.9174	0	0	0	0	0	0	0	0	0	0	0	0	0	56,000	0
Milestone invoicing due to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	16,800	16,800	16,800	39,200	39,200	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Fee invoiced	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	16,800	0	0	22,400	0	16,800	0	0	0	0	0	0	0	0	0	0	0	0	0	56,000	0
Fee invoiced to date	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress		0	0	0	0	0	16,800	16,800	16,800	39,200	39,200	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Contract position: revenue to date less invoiced	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	+ unbilled work / - invoiced ahead	0	0	0	0	0	-12,580	-2,220	10,740	2,415.289	12,690.0826	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Third-party production cost (EUR)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	A: purchase ledger; F: remaining budget x S-curve	0	0	0	0	0	0	4,200	5,600	2,022.2222	1,555.5556	622.2222	0	0	0	0	0	0	0	0	0	0	0	0	0	14,000	0
Production recharged to the client (GBP)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	cost x (1 + mark-up) x average rate	0	0	0	0	0	0	4,147.7625	5,513.3484	1,932.0381	1,486.1831	594.4733	0	0	0	0	0	0	0	0	0	0	0	0	0	13,673.8053	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress		0	0	0	0	0	51,780	41,420	28,460	14,384.711	4,109.9174	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2604 Packaging range and ecommerce site \| Marlowe Street Coffee Roasters Ltd \| GBP \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	effective dates, Project_Register	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	3x^2 - 2x^3	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress		0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	77.5	204.4	224.8298	188.3709	78.9943	0	0	0	0	0	0	0	0	0	0	0	0	0	774.095	0
Hours to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	opening + hours	0	0	0	0	0	0	77.5	281.9	506.7298	695.1007	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095
Estimated hours at completion	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: hours to date + estimate to complete; F: Project_Register	774.095	774.095	774.095	774.095	774.095	774.095	800	800	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095	774.095
Percentage complete	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	9.69%	35.24%	65.46%	89.8%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
Fee revenue to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: ledger; F: % complete x contract value	0	0	0	0	0	0	8,234.38	29,951.88	55,641.7937	76,325.9845	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
FEE REVENUE IN THE MONTH (GBP)	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	change in revenue to date	0	0	0	0	0	0	8,234.38	21,717.5	25,689.9137	20,684.1908	8,674.0155	0	0	0	0	0	0	0	0	0	0	0	0	0	85,000	0
Milestone invoicing due to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	25,500	25,500	59,500	59,500	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
Fee invoiced	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	25,500	0	34,000	0	25,500	0	0	0	0	0	0	0	0	0	0	0	0	0	85,000	0
Fee invoiced to date	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress		0	0	0	0	0	0	25,500	25,500	59,500	59,500	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000	85,000
Contract position: revenue to date less invoiced	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	-17,265.62	4,451.88	-3,858.2063	16,825.9845	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress		0	0	0	0	0	0	76,765.62	55,048.12	29,358.2063	8,674.0155	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Check (actual months): revenue to date less % complete x contract value	P-2605 App onboarding redesign \| Halvergate Money Ltd \| GBP \| In progress	must be zero	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	effective dates, Project_Register	0	0	0	0	0	0	0	0	0.25	0.5	0.75	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted		0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1	1	1
Hours worked	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	141.0156	310.2344	310.2344	141.0156	0	0	0	0	0	0	0	0	0	0	0	0	902.5	0
Hours to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	opening + hours	0	0	0	0	0	0	0	0	141.0156	451.25	761.4844	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5
Estimated hours at completion	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: hours to date + estimate to complete; F: Project_Register	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5	902.5
Percentage complete	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	15.62%	50%	84.38%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Contract value in force	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee revenue to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	18,750	60,000	101,250	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
FEE REVENUE IN THE MONTH (USD)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	change in revenue to date	0	0	0	0	0	0	0	0	18,750	41,250	41,250	18,750	0	0	0	0	0	0	0	0	0	0	0	0	120,000	0
Milestone invoicing due to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	36,000	36,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Fee invoiced	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	36,000	0	48,000	36,000	0	0	0	0	0	0	0	0	0	0	0	0	120,000	0
Fee invoiced to date	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted		0	0	0	0	0	0	0	0	36,000	36,000	84,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
Contract position: revenue to date less invoiced	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	-17,250	24,000	17,250	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Third-party production cost (EUR)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	A: purchase ledger; F: remaining budget x S-curve	0	0	0	0	0	0	0	0	4,687.5	10,312.5	10,312.5	4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	30,000	0
Production recharged to the client (USD)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted	cost x (1 + mark-up) x average rate	0	0	0	0	0	0	0	0	5,905.263	12,991.5786	12,991.5786	5,905.263	0	0	0	0	0	0	0	0	0	0	0	0	37,793.6832	0
Remaining fee to earn (secured if signed; pipeline weighted)	P-2606 Product launch campaign (incl. video production) \| Quillfield Software Inc. \| USD \| Contracted		0	0	0	0	0	0	0	0	101,250	60,000	18,750	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Programme position (elapsed share of duration)	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0.1429	0.2857	0.4286	0.5714	0.7143	0.8571	1	1	1	1	1
S-curve: cumulative share at month end	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0554	0.1983	0.3936	0.6064	0.8017	0.9446	1	1	1	1
Hours worked	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	66.5692	171.6786	234.7442	255.766	234.7442	171.6786	66.5692	0	0	0	0	0	1,201.75
Hours to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	66.5692	238.2478	472.992	728.758	963.5022	1,135.1808	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	0	1,201.75
Estimated hours at completion	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75	1,201.75
Percentage complete	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	5.54%	19.83%	39.36%	60.64%	80.17%	94.46%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000	132,000
Fee revenue to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	7,311.9534	26,169.0962	51,953.3528	80,046.6472	105,830.9038	124,688.0466	132,000	132,000	132,000	132,000	132,000	0	132,000
FEE REVENUE IN THE MONTH (GBP)	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	7,311.9534	18,857.1429	25,784.2566	28,093.2945	25,784.2566	18,857.1429	7,311.9534	0	0	0	0	0	132,000
Milestone invoicing due to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	39,600	39,600	39,600	92,400	92,400	92,400	132,000	132,000	132,000	132,000	132,000	0	132,000
Fee invoiced	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	39,600	0	0	52,800	0	0	39,600	0	0	0	0	0	132,000
Fee invoiced to date	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	39,600	39,600	39,600	92,400	92,400	92,400	132,000	132,000	132,000	132,000	132,000	0	132,000
Contract position: revenue to date less invoiced	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	-32,288.0466	-13,430.9038	12,353.3528	-12,353.3528	13,430.9038	32,288.0466	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-01 Customer portal redesign \| Brackenholt Insurance Ltd \| GBP \| Pipeline		0	0	0	0	0	0	0	0	132,000	132,000	132,000	132,000	132,000	124,688.0466	105,830.9038	80,046.6472	51,953.3528	26,169.0962	7,311.9534	0	0	0	0	0	132,000	0
Programme position (elapsed share of duration)	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1	1	1	1
Hours worked	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	68.6111	171.5278	222.9861	222.9861	171.5278	68.6111	0	0	0	0	0	0	0	0	240.1389	686.1111
Hours to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	68.6111	240.1389	463.125	686.1111	857.6389	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	240.1389	926.25
Estimated hours at completion	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25	926.25
Percentage complete	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	7.41%	25.93%	50%	74.07%	92.59%	100%	100%	100%	100%	100%	100%	100%	100%	100%	25.93%	100%
Contract value in force	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000
Fee revenue to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	7,703.7037	26,962.963	52,000	77,037.037	96,296.2963	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	26,962.963	104,000
FEE REVENUE IN THE MONTH (USD)	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	7,703.7037	19,259.2593	25,037.037	25,037.037	19,259.2593	7,703.7037	0	0	0	0	0	0	0	0	26,962.963	77,037.037
Milestone invoicing due to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	31,200	31,200	31,200	72,800	72,800	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	31,200	104,000
Fee invoiced	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	31,200	0	0	41,600	0	31,200	0	0	0	0	0	0	0	0	31,200	72,800
Fee invoiced to date	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline		0	0	0	0	0	0	0	0	0	0	31,200	31,200	31,200	72,800	72,800	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	104,000	31,200	104,000
Contract position: revenue to date less invoiced	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	-23,496.2963	-4,237.037	20,800	4,237.037	23,496.2963	0	0	0	0	0	0	0	0	0	-4,237.037	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-02 Brand and website \| Ferncliff Robotics Inc. \| USD \| Pipeline		0	0	0	0	0	0	0	0	104,000	104,000	96,296.2963	77,037.037	52,000	26,962.963	7,703.7037	0	0	0	0	0	0	0	0	0	77,037.037	0
Programme position (elapsed share of duration)	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0.25	0.5	0.75	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0.1562	0.5	0.8438	1	1	1	1	1	1	1	1	1	1	1
Hours worked	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	83.125	182.875	182.875	83.125	0	0	0	0	0	0	0	0	0	0	0	448.875	83.125
Hours to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	83.125	266	448.875	532	532	532	532	532	532	532	532	532	532	532	532	448.875	532
Estimated hours at completion	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532	532
Percentage complete	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	15.62%	50%	84.38%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	84.38%	100%
Contract value in force	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000
Fee revenue to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	8,750	28,000	47,250	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	47,250	56,000
FEE REVENUE IN THE MONTH (EUR)	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	8,750	19,250	19,250	8,750	0	0	0	0	0	0	0	0	0	0	0	47,250	8,750
Milestone invoicing due to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	16,800	16,800	39,200	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	39,200	56,000
Fee invoiced	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	16,800	0	22,400	16,800	0	0	0	0	0	0	0	0	0	0	0	39,200	16,800
Fee invoiced to date	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	16,800	16,800	39,200	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	56,000	39,200	56,000
Contract position: revenue to date less invoiced	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	-8,050	11,200	8,050	0	0	0	0	0	0	0	0	0	0	0	0	8,050	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-03 Product launch campaign \| Voltaro Energie GmbH \| EUR \| Pipeline		0	0	0	0	0	0	0	0	56,000	47,250	28,000	8,750	0	0	0	0	0	0	0	0	0	0	0	0	8,750	0
Programme position (elapsed share of duration)	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.1667	0.3333	0.5	0.6667	0.8333	1	1	1	1	1
S-curve: cumulative share at month end	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1	1
S-curve: cumulative share at prior month end	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0741	0.2593	0.5	0.7407	0.9259	1	1	1	1
Hours worked	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	34.8333	87.0833	113.2083	113.2083	87.0833	34.8333	0	0	0	0	0	470.25
Hours to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	34.8333	121.9167	235.125	348.3333	435.4167	470.25	470.25	470.25	470.25	470.25	0	470.25
Estimated hours at completion	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25	470.25
Percentage complete	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	7.41%	25.93%	50%	74.07%	92.59%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500	49,500
Fee revenue to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,666.6667	12,833.3333	24,750	36,666.6667	45,833.3333	49,500	49,500	49,500	49,500	49,500	0	49,500
FEE REVENUE IN THE MONTH (EUR)	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,666.6667	9,166.6667	11,916.6667	11,916.6667	9,166.6667	3,666.6667	0	0	0	0	0	49,500
Milestone invoicing due to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,850	14,850	14,850	34,650	34,650	49,500	49,500	49,500	49,500	49,500	0	49,500
Fee invoiced	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,850	0	0	19,800	0	14,850	0	0	0	0	0	49,500
Fee invoiced to date	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,850	14,850	14,850	34,650	34,650	49,500	49,500	49,500	49,500	49,500	0	49,500
Contract position: revenue to date less invoiced	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-11,183.3333	-2,016.6667	9,900	2,016.6667	11,183.3333	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	PL-04 Booking website \| Aurelwyn Hotels B.V. \| EUR \| Pipeline		0	0	0	0	0	0	0	0	49,500	49,500	49,500	49,500	49,500	49,500	45,833.3333	36,666.6667	24,750	12,833.3333	3,666.6667	0	0	0	0	0	49,500	0
Programme position (elapsed share of duration)	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1	1	1	1	1	1	1
S-curve: cumulative share at month end	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1	1
S-curve: cumulative share at prior month end	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1	1	1
Hours worked	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	227.24	541.88	646.76	541.88	227.24	0	0	0	0	0	0	0	0	2,185
Hours to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	227.24	769.12	1,415.88	1,957.76	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	0	2,185
Estimated hours at completion	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185
Percentage complete	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	89.6%	100%	100%	100%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000
Fee revenue to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	24,960	84,480	155,520	215,040	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	0	240,000
FEE REVENUE IN THE MONTH (EUR)	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	24,960	59,520	71,040	59,520	24,960	0	0	0	0	0	0	0	0	240,000
Milestone invoicing due to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	72,000	72,000	168,000	168,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	0	240,000
Fee invoiced	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	72,000	0	96,000	0	72,000	0	0	0	0	0	0	0	0	240,000
Fee invoiced to date	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	72,000	72,000	168,000	168,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	0	240,000
Contract position: revenue to date less invoiced	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	-47,040	12,480	-12,480	47,040	0	0	0	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	NW-1 New project wins not yet identified, Q1-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	240,000	240,000	240,000	240,000	215,040	155,520	84,480	24,960	0	0	0	0	0	0	0	0	240,000	0
Programme position (elapsed share of duration)	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1	1	1	1
S-curve: cumulative share at month end	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1	1
S-curve: cumulative share at prior month end	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1	1	1
Hours worked	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	227.24	541.88	646.76	541.88	227.24	0	0	0	0	0	2,185
Hours to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	227.24	769.12	1,415.88	1,957.76	2,185	2,185	2,185	2,185	2,185	0	2,185
Estimated hours at completion	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185
Percentage complete	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	89.6%	100%	100%	100%	100%	100%	0%	100%
Contract value in force	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000
Fee revenue to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	24,960	84,480	155,520	215,040	240,000	240,000	240,000	240,000	240,000	0	240,000
FEE REVENUE IN THE MONTH (EUR)	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	24,960	59,520	71,040	59,520	24,960	0	0	0	0	0	240,000
Milestone invoicing due to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	72,000	168,000	168,000	240,000	240,000	240,000	240,000	240,000	0	240,000
Fee invoiced	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	0	96,000	0	72,000	0	0	0	0	0	240,000
Fee invoiced to date	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	72,000	168,000	168,000	240,000	240,000	240,000	240,000	240,000	0	240,000
Contract position: revenue to date less invoiced	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-47,040	12,480	-12,480	47,040	0	0	0	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	NW-2 New project wins not yet identified, Q2-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	240,000	240,000	240,000	240,000	240,000	240,000	240,000	215,040	155,520	84,480	24,960	0	0	0	0	0	240,000	0
Programme position (elapsed share of duration)	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6	0.8	1	1
S-curve: cumulative share at month end	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1	1
S-curve: cumulative share at prior month end	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648	0.896	1
Hours worked	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	227.24	541.88	646.76	541.88	227.24	0	0	2,185
Hours to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	227.24	769.12	1,415.88	1,957.76	2,185	2,185	0	2,185
Estimated hours at completion	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185
Percentage complete	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	89.6%	100%	100%	0%	100%
Contract value in force	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000
Fee revenue to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	24,960	84,480	155,520	215,040	240,000	240,000	0	240,000
FEE REVENUE IN THE MONTH (EUR)	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	24,960	59,520	71,040	59,520	24,960	0	0	240,000
Milestone invoicing due to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	72,000	168,000	168,000	240,000	240,000	0	240,000
Fee invoiced	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	0	96,000	0	72,000	0	0	240,000
Fee invoiced to date	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	72,000	168,000	168,000	240,000	240,000	0	240,000
Contract position: revenue to date less invoiced	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-47,040	12,480	-12,480	47,040	0	0	0	0
Remaining fee to earn (secured if signed; pipeline weighted)	NW-3 New project wins not yet identified, Q3-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	215,040	155,520	84,480	24,960	0	0	240,000	0
Programme position (elapsed share of duration)	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	effective dates, Project_Register	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.2	0.4	0.6
S-curve: cumulative share at month end	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	3x^2 - 2x^3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352	0.648
S-curve: cumulative share at prior month end	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.104	0.352
Hours worked	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: timesheets; F: remaining hours x S-curve	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	227.24	541.88	646.76	0	1,415.88
Hours to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	opening + hours	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	227.24	769.12	1,415.88	0	1,415.88
Estimated hours at completion	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: hours to date + estimate to complete; F: Project_Register	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185	2,185
Percentage complete	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	hours to date / hours at completion	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	10.4%	35.2%	64.8%	0%	64.8%
Contract value in force	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: contract incl. approved change requests; F: probability-weighted fee	0	0	0	0	0	0	0	0	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000
Fee revenue to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: ledger; F: % complete x contract value	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	24,960	84,480	155,520	0	155,520
FEE REVENUE IN THE MONTH (EUR)	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	change in revenue to date	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	24,960	59,520	71,040	0	155,520
Milestone invoicing due to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	contract value x (deposit at start + interim at mid-point + balance at completion)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	72,000	168,000	0	168,000
Fee invoiced	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	A: sales ledger; F: tops up to the milestone due	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	0	96,000	0	168,000
Fee invoiced to date	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	72,000	168,000	0	168,000
Contract position: revenue to date less invoiced	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline	+ unbilled work / - invoiced ahead	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-47,040	12,480	-12,480	0	-12,480
Remaining fee to earn (secured if signed; pipeline weighted)	NW-4 New project wins not yet identified, Q4-27 starts (run-rate) \| New clients not yet identified (FY2027 run-rate) \| EUR \| Pipeline		0	0	0	0	0	0	0	0	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	215,040	155,520	84,480	240,000	84,480
Project hours	TOTALS (EUR where stated)	sum of projects	635.3	511.2	549.2	585.3	819	1,085.9	1,158.7	1,203.6	1,084.1501	874.1658	680.7696	495.4184	533.3511	831.4354	1,024.7997	1,159.5586	1,138.0944	994.7125	1,027.8819	870.5226	646.76	769.12	769.12	646.76	9,682.7039	10,412.1161
Third-party production cost (EUR)	TOTALS (EUR where stated)		0	0	0	0	0	0	4,200	5,600	6,709.7222	11,868.0556	10,934.7222	4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	44,000	0
Project fee revenue (EUR at the monthly average rate)	TOTALS (EUR where stated)		65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	117,283.8047	98,066.8637	78,159.4405	53,041.6552	55,968.8637	90,580.1157	114,526.835	131,531.5414	130,212.003	113,992.6603	116,344.6321	96,947.9186	71,040	84,480	84,480	71,040	946,256.8171	1,161,144.5697
Secured remaining fees (EUR at the monthly average rate)	TOTALS (EUR where stated)		74,720.8136	203,419.2598	319,901.796	266,042.8103	302,799.593	276,919.8899	275,084.0736	164,561.4833	158,046.8753	68,730.0116	16,669.4523	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Pipeline remaining fees, win-weighted (EUR)	TOTALS (EUR where stated)		0	0	0	0	0	0	0	0	1,316,845.6538	1,308,095.6538	1,281,996.7726	1,245,624.5697	1,189,655.706	1,099,075.5904	984,548.7554	853,017.2139	722,805.211	608,812.5507	492,467.9186	395,520	324,480	240,000	155,520	84,480	1,245,624.5697	84,480

TIME AND MATERIALS AND MEDIA MANAGEMENT (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
ASH: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	257.5	224.5	222.5	190.7	206.7	215.2	169	246.3	264	274.0253	253.9747	203.8481	253.9747	243.9494	264	250.6329	250.6329	230.5823	187.1392	227.2405	264	274.0253	253.9747	203.8481	2,728.2481	2,904
ASH: hourly rate (GBP)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	88	88	88	88	88	88	88	88	88	88	88	88	93.28	93.28	93.28	93.28	93.28	93.28	93.28	93.28	93.28	93.28	93.28	93.28	88	93.28
ASH: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	9.3%	8.29%	5.07%	11.37%	10.21%	6.39%	8.14%	9.48%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	6.51%	7.86%	6.51%
ASH: revenue (GBP)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	21,719.066	22,543.8407	20,894.2914	16,770.4181	22,147.9489	21,273.6877	23,022.21	21,856.5285	21,856.5285	20,108.0062	16,319.5413	19,816.5858	23,022.21	23,896.4711	22,147.9489	17,776.6432	221,401.7362	253,244.3101
ASH: invoiced (GBP)	TIME AND MATERIALS	A: sales ledger; F: prior month work	14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	21,719.066	22,543.8407	20,894.2914	16,770.4181	22,147.9489	21,273.6877	23,022.21	21,856.5285	21,856.5285	20,108.0062	16,319.5413	19,816.5858	23,022.21	23,896.4711	22,147.9489	218,826.7081	252,238.085
ASH: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	28,325	24,695	24,475	20,977	22,737	23,672	18,590	27,093	29,040	30,142.7848	27,937.2152	22,423.2911	29,613.4481	28,444.4962	30,782.4	29,223.7975	29,223.7975	26,885.8937	21,820.4354	26,496.243	30,782.4	31,951.3519	29,613.4481	23,768.6886	300,107.2911	338,606.4
CAR: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	0	0	96.2	91.5	99.9	86.4	64.5	90.6	108	112.1013	103.8987	83.3924	103.8987	99.7975	108	102.5316	102.5316	94.3291	76.557	92.962	108	112.1013	103.8987	83.3924	936.4924	1,188
CAR: hourly rate (EUR)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	98	98	98	98	98	98	98	98	98	98	98	98	103.88	103.88	103.88	103.88	103.88	103.88	103.88	103.88	103.88	103.88	103.88	103.88	98	103.88
CAR: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	0%	0%	7.63%	6.41%	5.02%	2.28%	6.22%	6.36%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	3.66%	4.05%	3.66%
CAR: revenue (EUR)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	8,345.5125	87,377.7518	118,889.3507
CAR: invoiced (EUR)	TIME AND MATERIALS	A: sales ledger; F: prior month work	0	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	79,504.6268	118,416.9632
CAR: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	0	0	10,582	10,065	10,989	9,504	7,095	9,966	11,880	12,331.1392	11,428.8608	9,173.1646	12,114.5924	11,636.3848	12,592.8	11,955.1899	11,955.1899	10,998.7747	8,926.5418	10,839.3722	12,592.8	13,071.0076	12,114.5924	9,723.5544	103,014.1646	138,520.8
TWL: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	0	0	0	0	0	0	0	0	0	74.7342	69.2658	55.5949	69.2658	66.5316	72	68.3544	68.3544	62.8861	51.038	61.9747	72	74.7342	69.2658	55.5949	199.5949	792
TWL: hourly rate (GBP)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	85	85	85	85	85	85	85	85	85	85	85	85	90.1	90.1	90.1	90.1	90.1	90.1	90.1	90.1	90.1	90.1	90.1	90.1	85	90.1
TWL: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	0%	0%	0%	0%	0%	0%	0%	0%	3%	3%	3%	3%	3%	3%	3%	3%	3%	3%	3%	3%	3%	3%	3%	3%	1%	3%
TWL: revenue (GBP)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	0	0	0	0	0	0	0	0	0	6,161.8329	5,710.9671	4,583.8025	6,053.6251	5,814.6662	6,292.584	5,973.9722	5,973.9722	5,496.0544	4,460.5659	5,416.4014	6,292.584	6,531.5429	6,053.6251	4,858.8307	16,456.6025	69,218.424
TWL: invoiced (GBP)	TIME AND MATERIALS	A: sales ledger; F: prior month work	0	0	0	0	0	0	0	0	0	0	6,161.8329	5,710.9671	4,583.8025	6,053.6251	5,814.6662	6,292.584	5,973.9722	5,973.9722	5,496.0544	4,460.5659	5,416.4014	6,292.584	6,531.5429	6,053.6251	11,872.8	68,943.3958
TWL: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	0	0	0	0	0	0	0	0	0	8,220.7595	7,619.2405	6,115.443	8,076.3949	7,757.5899	8,395.2	7,970.1266	7,970.1266	7,332.5165	5,951.0278	7,226.2481	8,395.2	8,714.0051	8,076.3949	6,482.3696	21,955.443	92,347.2
OTH: hours	TIME AND MATERIALS	A: timesheets; F: base hours x demand seasonality x scenario factor	115.9	109.7	133.7	145	113.4	121.3	95.8	99	144	149.4684	138.5316	111.1899	138.5316	133.0633	144	136.7089	136.7089	125.7722	102.0759	123.9494	144	149.4684	138.5316	111.1899	1,476.9899	1,584
OTH: hourly rate (EUR)	TIME AND MATERIALS	register rate; FY2027 x (1 + rate card change)	92	92	92	92	92	92	92	92	92	92	92	92	97.52	97.52	97.52	97.52	97.52	97.52	97.52	97.52	97.52	97.52	97.52	97.52	92	97.52
OTH: write-off at billing	TIME AND MATERIALS	A: 1 - revenue / (hours x rate); F: register forecast	9.37%	12.8%	17.57%	14.88%	10.83%	10.96%	12.83%	15.1%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	11.15%	12.41%	11.15%
OTH: revenue (EUR)	TIME AND MATERIALS	A: ledger; F: hours x rate x (1 - write-off)	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	11,770.9255	12,217.9226	11,323.9283	9,088.9425	12,003.364	11,529.547	12,477.181	11,845.425	11,845.425	10,897.791	8,844.584	10,739.852	12,477.181	12,950.998	12,003.364	9,634.279	119,014.7089	137,248.991
OTH: invoiced (EUR)	TIME AND MATERIALS	A: sales ledger; F: prior month work	7,861.33	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	11,770.9255	12,217.9226	11,323.9283	9,088.9425	12,003.364	11,529.547	12,477.181	11,845.425	11,845.425	10,897.791	8,844.584	10,739.852	12,477.181	12,950.998	12,003.364	117,787.0964	136,703.6545
OTH: standard value of hours (EUR, rate card)	TIME AND MATERIALS	hours x rate card mix	12,749	12,067	14,707	15,950	12,474	13,343	10,538	10,890	15,840	16,441.519	15,238.481	12,230.8861	16,152.7899	15,515.1797	16,790.4	15,940.2532	15,940.2532	14,665.0329	11,902.0557	14,452.4962	16,790.4	17,428.0101	16,152.7899	12,964.7392	162,468.8861	184,694.4
Time and materials hours	TIME AND MATERIALS		373.4	334.2	452.4	427.2	420	422.9	329.3	435.9	516	610.3291	565.6709	454.0253	565.6709	543.3418	588	558.2278	558.2278	513.5696	416.8101	506.1266	588	610.3291	565.6709	454.0253	5,341.3253	6,468
Time and materials revenue (EUR)	TIME AND MATERIALS		33,303.601	29,595.2242	40,155.662	36,895.9525	37,446.0124	38,717.0875	29,519.827	38,965.4466	48,110.0729	57,353.9126	53,157.2849	42,665.7155	56,346.7219	54,122.5092	58,570.9347	55,605.3177	55,605.3177	51,156.8923	41,518.6372	50,415.4881	58,570.9347	60,795.1474	56,346.7219	45,225.6584	485,885.799	644,280.2812
Standard value of time and materials hours (EUR)	TIME AND MATERIALS		41,074	36,762	49,764	46,992	46,200	46,519	36,223	47,949	56,760	67,136.2025	62,223.7975	49,942.7848	65,957.2253	63,353.6506	68,560.8	65,089.3671	65,089.3671	59,882.2177	48,600.0608	59,014.3595	68,560.8	71,164.3747	65,957.2253	52,939.3519	587,545.7848	754,168.8
Time and materials realisation (revenue / standard value)	TIME AND MATERIALS		81.08%	80.5%	80.69%	78.52%	81.05%	83.23%	81.49%	81.26%	84.76%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	85.43%	82.7%	85.43%
THV: media spend rebilled (GBP)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	60,500	66,550	81,675	72,600	51,425	51,425	57,475	57,475	57,475	54,601.25	48,853.75	51,727.5	57,475	63,222.5	77,591.25	68,970	709,722.39	697,716.25
THV: media management fee (GBP)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	6,050	6,655	8,167.5	7,260	5,142.5	5,142.5	5,747.5	5,747.5	5,747.5	5,460.125	4,885.375	5,172.75	5,747.5	6,322.25	7,759.125	6,897	70,972.24	69,771.625
THV: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	60	720	720
HOC: media spend rebilled (USD)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	99,000	108,900	133,650	118,800	84,150	84,150	94,050	99,000	99,000	94,050	79,942.5	84,645	94,050	103,455	126,967.5	112,860	1,128,074.31	1,156,320
HOC: media management fee (USD)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	8,910	9,801	12,028.5	10,692	7,573.5	7,573.5	8,464.5	8,910	8,910	8,464.5	7,194.825	7,618.05	8,464.5	9,310.95	11,427.075	10,157.4	101,526.69	104,068.8
HOC: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	70	840	840
LIN: media spend rebilled (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	36,651.48	36,033.18	37,761.67	41,489.22	37,868.66	40,561.35	35,029.41	35,093.95	44,000	48,400	59,400	52,800	37,400	37,400	41,800	44,000	44,000	41,800	37,400	39,600	44,000	45,980	56,430	50,160	505,088.92	519,970
LIN: media management fee (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	3,665.15	3,603.32	3,776.17	4,148.92	3,786.87	4,056.14	3,502.94	3,509.39	4,400	4,840	5,940	5,280	3,740	3,740	4,180	4,400	4,400	4,180	3,740	3,960	4,400	4,598	5,643	5,016	50,508.9	51,997
LIN: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	45	540	540
TAM: media spend rebilled (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	17,814.1	19,471.68	20,102.78	21,367.75	20,600.91	21,373.1	20,230.83	21,912.78	24,200	26,620	32,670	29,040	19,541.5	19,541.5	21,840.5	22,990	22,990	21,840.5	19,541.5	20,691	22,990	25,289	31,036.5	27,588	275,403.93	275,880
TAM: media management fee (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	2,137.69	2,336.6	2,412.33	2,564.13	2,472.11	2,564.77	2,427.7	2,629.53	2,904	3,194.4	3,920.4	3,484.8	2,344.98	2,344.98	2,620.86	2,758.8	2,758.8	2,620.86	2,344.98	2,482.92	2,758.8	3,034.68	3,724.38	3,310.56	33,048.46	33,105.6
TAM: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30	360	360
VDH: media spend rebilled (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: platform statements; F: base x seasonality x scenario factor x retainer weight	26,297.13	26,644.31	28,793.82	30,973.38	31,211.42	29,702.68	24,993.32	24,881.93	33,000	36,300	44,550	39,600	28,050	28,050	28,215	29,700	29,700	28,215	25,245	26,730	29,700	32,670	40,095	35,640	376,947.99	362,010
VDH: media management fee (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	A: ledger; F: spend x fee %	2,629.71	2,664.43	2,879.38	3,097.34	3,121.14	2,970.27	2,499.33	2,488.19	3,300	3,630	4,455	3,960	2,805	2,805	2,821.5	2,970	2,970	2,821.5	2,524.5	2,673	2,970	3,267	4,009.5	3,564	37,694.79	36,201
VDH: media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)	register hours while spend runs	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	40	480	480
Media spend rebilled (EUR): pass-through, not revenue	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		197,458.8042	195,290.5747	219,059.5025	241,000.8898	234,907.7945	223,392.8507	214,762.2655	230,207.1313	262,037.3474	288,241.0822	353,750.419	314,444.8169	221,703.2453	221,703.2453	244,650.9801	253,886.2155	253,886.2155	241,191.9047	212,062.6581	224,536.9321	249,485.4801	272,014.0281	333,835.3981	296,742.5761	2,974,553.4787	3,025,698.8787
Media management fees (EUR)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		19,530.4067	19,335.0268	21,595.5016	23,771.4365	23,099.434	22,018.8784	21,094.5728	22,676.7917	25,807.5877	28,388.3464	34,840.2433	30,969.1052	21,813.0295	21,813.0295	24,065.7683	24,968.2745	24,968.2745	23,719.8607	20,886.377	22,114.9875	24,572.2083	26,787.4291	32,875.4812	29,222.6499	293,127.3312	297,807.37
Media management hours	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	2,940	2,940
Effective media fee (fees / spend)	MEDIA MANAGEMENT (spend rebilled at cost is not revenue; the fee is)		9.89%	9.9%	9.86%	9.86%	9.83%	9.86%	9.82%	9.85%	9.85%	9.85%	9.85%	9.85%	9.84%	9.84%	9.84%	9.83%	9.83%	9.83%	9.85%	9.85%	9.85%	9.85%	9.85%	9.85%	9.85%	9.84%

DELIVERY CAPACITY: HOURS BY ROLE, UTILISATION, FREELANCERS, STANDARD VALUE AND REALISATION
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Brand and content retainers	HOURS BY WORK TYPE (all clients)	engine sheets	616.6	606.5	610.6	600.5	596.7	751.2	751.3	762.2	702.6104	548.5542	548.5542	548.5542	527.051	527.051	527.051	582.9457	582.9457	681.8841	681.8841	681.8841	681.8841	681.8841	681.8841	681.8841	7,643.8729	7,520.233
Performance retainers	HOURS BY WORK TYPE (all clients)	engine sheets	538.7	521.4	532.9	527.5	540.9	523.3	538.5	533	516.0125	516.0125	516.0125	516.0125	511.1206	511.1206	604.0631	604.0631	604.0631	604.0631	599.1384	599.1384	599.1384	590.6831	590.6831	590.6831	6,320.25	7,007.9584
Product design and development retainers	HOURS BY WORK TYPE (all clients)	engine sheets	724.3	710.4	714.3	952.1	946.2	929.8	946.3	929.7	891.82	891.82	891.82	891.82	976.06	976.06	976.06	964.5515	964.5515	964.5515	954.6043	954.6043	954.6043	954.6043	954.6043	954.6043	10,420.38	11,549.4604
Fixed-fee projects	HOURS BY WORK TYPE (all clients)	engine sheets	635.3	511.2	549.2	585.3	819	1,085.9	1,158.7	1,203.6	1,084.1501	874.1658	680.7696	495.4184	533.3511	831.4354	1,024.7997	1,159.5586	1,138.0944	994.7125	1,027.8819	870.5226	646.76	769.12	769.12	646.76	9,682.7039	10,412.1161
Time and materials	HOURS BY WORK TYPE (all clients)	engine sheets	373.4	334.2	452.4	427.2	420	422.9	329.3	435.9	516	610.3291	565.6709	454.0253	565.6709	543.3418	588	558.2278	558.2278	513.5696	416.8101	506.1266	588	610.3291	565.6709	454.0253	5,341.3253	6,468
Media management	HOURS BY WORK TYPE (all clients)	engine sheets	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	245	2,940	2,940
TOTAL HOURS DEMANDED	HOURS BY WORK TYPE (all clients)		3,133.3	2,928.7	3,104.4	3,337.6	3,567.8	3,958.1	3,969.1	4,109.4	3,955.5931	3,685.8816	3,447.8271	3,150.8304	3,358.2537	3,634.0088	3,964.9738	4,114.3468	4,092.8826	4,003.7808	3,925.3188	3,857.276	3,715.3868	3,851.6206	3,806.9624	3,572.9568	42,348.5321	45,897.7679
Development and QA: +1 from Oct-26 (Quillfield launch campaign (contracted))	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0
Performance marketing: +1 from Nov-26 (media growth on existing accounts)	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0
Development and QA: +1 from Jan-27 (Ferncliff retainer (pipeline))	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	0	0	0.6	0	0	0	0	0	0	0	0	0	0	0	0	0.6
Creative and design: +1 from Mar-27 (Brackenholt portal (pipeline))	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	input month x weight x hiring flag									0	0	0	0	0	0	0.55	0	0	0	0	0	0	0	0	0	0	0.55
Delivery hires in the month (weighted)	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)		0	0	0	0	0	0	0	0	0	1	1	0	0.6	0	0.55	0	0	0	0	0	0	0	0	0	2	1.15
Capacity cut in the month (FTE, scenario)	HIRING PLAN (forecast months; each hire weighted by the probability of the work it is tied to, and switched by the scenario flag)	Assumptions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Headcount	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: payroll; F: prior month + weighted hires - share of any capacity cut	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5
Productive hours available	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	headcount x productive hours per FTE	760	730	790	750	750	690	560	680	790	820	760	610	760	730	790	750	750	690	560	680	790	820	760	610	8,690	8,690
Billable hours demanded	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: own + freelancer timesheets; F: hours by work type x role mix	351.797	336.066	341.959	365.999	385.431	430.313	440.085	443.154	416.5358	372.0069	356.5352	341.7071	348.5614	372.4081	401.8186	421.5095	419.7924	426.1308	427.0509	414.4621	396.5611	405.0816	405.0816	395.2928	4,581.5889	4,833.751
Billable hours worked by own staff	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: timesheets; F: min(demand, capacity x maximum utilisation)	351.7	336	341.9	365.9	385.4	430.3	440	443.1	416.5358	372.0069	356.5352	341.7071	348.5614	372.4081	401.8186	421.5095	419.7924	426.1308	427.0509	414.4621	396.5611	405.0816	405.0816	395.2928	4,581.0849	4,833.751
Billable hours bought from freelancers	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	A: freelancer timesheets; F: demand - own	0.097	0.066	0.059	0.099	0.031	0.013	0.085	0.054	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.504	0
Utilisation (own billable / productive hours)	ROLE: STRATEGY AND ACCOUNT MANAGEMENT		46.28%	46.03%	43.28%	48.79%	51.39%	62.36%	78.57%	65.16%	52.73%	45.37%	46.91%	56.02%	45.86%	51.01%	50.86%	56.2%	55.97%	61.76%	76.26%	60.95%	50.2%	49.4%	53.3%	64.8%	52.72%	55.62%
Standard value of hours (EUR, rate card)	ROLE: STRATEGY AND ACCOUNT MANAGEMENT	(own + freelancer hours) x rate card	43,974.625	42,008.25	42,744.875	45,749.875	48,178.875	53,789.125	55,010.625	55,394.25	52,066.9702	46,500.8609	44,566.8987	42,713.3872	46,184.3815	49,344.0745	53,240.9686	55,850.0139	55,622.4929	56,462.3244	56,584.2417	54,916.2328	52,544.3495	53,673.3161	53,673.3161	52,376.3001	572,698.617	640,472.0122
Headcount	ROLE: CREATIVE AND DESIGN	A: payroll; F: prior month + weighted hires - share of any capacity cut	9	9	9	9	8	8	9	9	9	9	9	9	9	9	9.55	9.55	9.55	9.55	9.55	9.55	9.55	9.55	9.55	9.55	9	9.55
Productive hours available	ROLE: CREATIVE AND DESIGN	headcount x productive hours per FTE	1,368	1,314	1,422	1,350	1,200	1,104	1,008	1,224	1,422	1,476	1,368	1,098	1,368	1,314	1,508.9	1,432.5	1,432.5	1,317.9	1,069.6	1,298.8	1,508.9	1,566.2	1,451.6	1,165.1	15,354	16,434
Billable hours demanded	ROLE: CREATIVE AND DESIGN	A: own + freelancer timesheets; F: hours by work type x role mix	830.321	771.158	822.075	904.695	970.972	1,093.5	1,094.891	1,137.359	1,091.1889	1,007.1943	935.778	846.6789	913.5684	996.2949	1,078.8548	1,124.2092	1,117.7699	1,093.0181	1,069.8686	1,049.4558	1,006.889	1,049.2811	1,035.8837	965.682	11,505.8111	12,500.7755
Billable hours worked by own staff	ROLE: CREATIVE AND DESIGN	A: timesheets; F: min(demand, capacity x maximum utilisation)	830.3	771.1	822	904.6	970.9	984.5	885.2	1,059.8	1,091.1889	1,007.1943	935.778	846.6789	913.5684	996.2949	1,078.8548	1,124.2092	1,117.7699	1,093.0181	941.248	1,049.4558	1,006.889	1,049.2811	1,035.8837	965.682	11,109.2401	12,372.1549
Billable hours bought from freelancers	ROLE: CREATIVE AND DESIGN	A: freelancer timesheets; F: demand - own	0.021	0.058	0.075	0.095	0.072	109	209.691	77.559	0	0	0	0	0	0	0	0	0	0	128.6206	0	0	0	0	0	396.571	128.6206
Utilisation (own billable / productive hours)	ROLE: CREATIVE AND DESIGN		60.69%	58.68%	57.81%	67.01%	80.91%	89.18%	87.82%	86.58%	76.74%	68.24%	68.4%	77.11%	66.78%	75.82%	71.5%	78.48%	78.03%	82.94%	88%	80.8%	66.73%	67%	71.36%	82.88%	72.35%	75.28%
Standard value of hours (EUR, rate card)	ROLE: CREATIVE AND DESIGN	(own + freelancer hours) x rate card	87,183.705	80,971.59	86,317.875	94,992.975	101,952.06	114,817.5	114,963.555	119,422.695	114,574.8322	105,755.4016	98,256.6866	88,901.2897	101,680.1638	110,887.6275	120,076.5407	125,124.4808	124,407.7897	121,652.9186	119,076.3787	116,804.4271	112,066.7481	116,784.9885	115,293.8503	107,480.4043	1,208,110.165	1,391,336.318
Headcount	ROLE: CONTENT, COPY AND VIDEO	A: payroll; F: prior month + weighted hires - share of any capacity cut	5	5	5	5	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4
Productive hours available	ROLE: CONTENT, COPY AND VIDEO	headcount x productive hours per FTE	760	730	790	750	600	552	448	544	632	656	608	488	608	584	632	600	600	552	448	544	632	656	608	488	7,558	6,952
Billable hours demanded	ROLE: CONTENT, COPY AND VIDEO	A: own + freelancer timesheets; F: hours by work type x role mix	317.606	305.617	310.447	308.015	320.112	385.244	390.895	396.24	367.2028	302.7839	293.1141	283.8465	277.5811	292.4853	314.2361	340.5371	339.4639	366.9233	367.9415	360.0735	348.8854	353.9042	353.9042	347.7862	3,981.1232	4,063.722
Billable hours worked by own staff	ROLE: CONTENT, COPY AND VIDEO	A: timesheets; F: min(demand, capacity x maximum utilisation)	317.6	305.6	310.4	308	320.1	385.2	390.8	396.2	367.2028	302.7839	293.1141	283.8465	277.5811	292.4853	314.2361	340.5371	339.4639	366.9233	367.9415	360.0735	348.8854	353.9042	353.9042	347.7862	3,980.8472	4,063.722
Billable hours bought from freelancers	ROLE: CONTENT, COPY AND VIDEO	A: freelancer timesheets; F: demand - own	0.006	0.017	0.047	0.015	0.012	0.044	0.095	0.04	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.276	0
Utilisation (own billable / productive hours)	ROLE: CONTENT, COPY AND VIDEO		41.79%	41.86%	39.29%	41.07%	53.35%	69.78%	87.23%	72.83%	58.1%	46.16%	48.21%	58.17%	45.65%	50.08%	49.72%	56.76%	56.58%	66.47%	82.13%	66.19%	55.2%	53.95%	58.21%	71.27%	52.67%	58.45%
Standard value of hours (EUR, rate card)	ROLE: CONTENT, COPY AND VIDEO	(own + freelancer hours) x rate card	28,584.54	27,505.53	27,940.23	27,721.35	28,810.08	34,671.96	35,180.55	35,661.6	33,048.25	27,250.5485	26,380.2655	25,546.1853	26,481.2371	27,903.0989	29,978.1196	32,487.2434	32,384.8589	35,004.4784	35,101.6204	34,351.0164	33,283.6689	33,762.4634	33,762.4634	33,178.8062	358,301.0894	387,679.075
Headcount	ROLE: DEVELOPMENT AND QA	A: payroll; F: prior month + weighted hires - share of any capacity cut	7	7	7	8	8	8	8	8	8	9	9	9	9.6	9.6	9.6	9.6	9.6	9.6	9.6	9.6	9.6	9.6	9.6	9.6	9	9.6
Productive hours available	ROLE: DEVELOPMENT AND QA	headcount x productive hours per FTE	1,064	1,022	1,106	1,200	1,200	1,104	896	1,088	1,264	1,476	1,368	1,098	1,459.2	1,401.6	1,516.8	1,440	1,440	1,324.8	1,075.2	1,305.6	1,516.8	1,574.4	1,459.2	1,171.2	13,886	16,684.8
Billable hours demanded	ROLE: DEVELOPMENT AND QA	A: own + freelancer timesheets; F: hours by work type x role mix	835.299	753.099	841.857	948.606	1,039.671	1,150.764	1,132.608	1,208.283	1,187.3404	1,151.1227	1,043.1014	898.2665	1,018.4485	1,130.2464	1,238.2544	1,273.4879	1,264.4729	1,180.4257	1,131.8249	1,119.3239	1,074.4677	1,139.2563	1,112.4614	994.0829	12,190.018	13,676.7529
Billable hours worked by own staff	ROLE: DEVELOPMENT AND QA	A: timesheets; F: min(demand, capacity x maximum utilisation)	835.2	753	841.8	948.6	1,039.6	980.4	763.6	960.9	1,112.32	1,151.1227	1,043.1014	898.2665	1,018.4485	1,130.2464	1,238.2544	1,267.2	1,264.4729	1,165.824	946.176	1,119.3239	1,074.4677	1,139.2563	1,112.4614	994.0829	11,327.9106	13,470.2144
Billable hours bought from freelancers	ROLE: DEVELOPMENT AND QA	A: freelancer timesheets; F: demand - own	0.099	0.099	0.057	0.006	0.071	170.364	369.008	247.383	75.0204	0	0	0	0	0	0	6.2879	0	14.6017	185.6489	0	0	0	0	0	862.1074	206.5385
Utilisation (own billable / productive hours)	ROLE: DEVELOPMENT AND QA		78.5%	73.68%	76.11%	79.05%	86.63%	88.8%	85.22%	88.32%	88%	77.99%	76.25%	81.81%	69.79%	80.64%	81.64%	88%	87.81%	88%	88%	85.73%	70.84%	72.36%	76.24%	84.88%	81.58%	80.73%
Standard value of hours (EUR, rate card)	ROLE: DEVELOPMENT AND QA	(own + freelancer hours) x rate card	96,059.385	86,606.385	96,813.555	109,089.69	119,562.165	132,337.86	130,249.92	138,952.545	136,544.1431	132,379.1128	119,956.6578	103,300.6526	124,148.8758	137,777.0414	150,943.2111	155,238.1718	154,139.2453	143,893.8953	137,969.46	136,445.5826	130,977.6081	138,875.3467	135,609.0439	121,178.6997	1,401,852.0712	1,667,196.1817
Headcount	ROLE: PERFORMANCE MARKETING	A: payroll; F: prior month + weighted hires - share of any capacity cut	4	4	4	4	4	4	4	4	4	4	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5
Productive hours available	ROLE: PERFORMANCE MARKETING	headcount x productive hours per FTE	608	584	632	600	600	552	448	544	632	656	760	610	760	730	790	750	750	690	560	680	790	820	760	610	7,226	8,690
Billable hours demanded	ROLE: PERFORMANCE MARKETING	A: own + freelancer timesheets; F: hours by work type x role mix	504.617	494.9	501.307	498.135	505.429	498.839	507.201	504.394	493.8591	490.778	490.778	490.778	487.6574	487.6574	538.7757	539.8936	539.8936	541.8724	539.1638	539.1638	539.1638	534.5134	534.5134	534.5134	5,981.015	6,356.7818
Billable hours worked by own staff	ROLE: PERFORMANCE MARKETING	A: timesheets; F: min(demand, capacity x maximum utilisation)	504.6	494.9	501.3	498.1	505.4	496.4	389.6	483.2	493.8591	490.778	490.778	490.778	487.6574	487.6574	538.7757	539.8936	539.8936	541.8724	492.8	539.1638	539.1638	534.5134	534.5134	534.5134	5,839.693	6,310.418
Billable hours bought from freelancers	ROLE: PERFORMANCE MARKETING	A: freelancer timesheets; F: demand - own	0.017	0	0.007	0.035	0.029	2.439	117.601	21.194	0	0	0	0	0	0	0	0	0	0	46.3638	0	0	0	0	0	141.322	46.3638
Utilisation (own billable / productive hours)	ROLE: PERFORMANCE MARKETING		82.99%	84.74%	79.32%	83.02%	84.23%	89.93%	86.96%	88.82%	78.14%	74.81%	64.58%	80.46%	64.17%	66.8%	68.2%	71.99%	71.99%	78.53%	88%	79.29%	68.25%	65.18%	70.33%	87.63%	80.82%	72.62%
Standard value of hours (EUR, rate card)	ROLE: PERFORMANCE MARKETING	(own + freelancer hours) x rate card	50,461.7	49,490	50,130.7	49,813.5	50,542.9	49,883.9	50,720.1	50,439.4	49,385.9083	49,077.7958	49,077.7958	49,077.7958	51,691.6806	51,691.6806	57,110.2284	57,228.7251	57,228.7251	57,438.4744	57,151.3651	57,151.3651	57,151.3651	56,658.4204	56,658.4204	56,658.4204	598,101.4958	673,818.8709
Headcount	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: payroll; F: prior month + weighted hires - share of any capacity cut	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3
Productive hours available	ROLE: PROJECT AND DELIVERY MANAGEMENT	headcount x productive hours per FTE	456	438	474	450	450	414	336	408	474	492	456	366	456	438	474	450	450	414	336	408	474	492	456	366	5,214	5,214
Billable hours demanded	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: own + freelancer timesheets; F: hours by work type x role mix	293.66	267.86	286.755	312.15	346.185	399.44	403.42	419.97	399.4662	361.9958	328.5206	289.5533	312.4369	354.9166	393.0342	414.7095	411.4898	395.4105	389.4691	374.7968	349.4198	369.5839	365.1181	335.5995	4,108.9759	4,465.9847
Billable hours worked by own staff	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: timesheets; F: min(demand, capacity x maximum utilisation)	293.6	267.8	286.7	312.1	346.1	366.5	296.9	352.6	399.4662	361.9958	328.5206	289.5533	312.4369	354.9166	393.0342	396	396	364.32	295.68	359.04	349.4198	369.5839	365.1181	322.08	3,901.8359	4,277.6295
Billable hours bought from freelancers	ROLE: PROJECT AND DELIVERY MANAGEMENT	A: freelancer timesheets; F: demand - own	0.06	0.06	0.055	0.05	0.085	32.94	106.52	67.37	0	0	0	0	0	0	0	18.7095	15.4898	31.0905	93.7891	15.7568	0	0	0	13.5195	207.14	188.3552
Utilisation (own billable / productive hours)	ROLE: PROJECT AND DELIVERY MANAGEMENT		64.39%	61.14%	60.49%	69.36%	76.91%	88.53%	88.36%	86.42%	84.28%	73.58%	72.04%	79.11%	68.52%	81.03%	82.92%	88%	88%	88%	88%	88%	73.72%	75.12%	80.07%	88%	74.83%	82.04%
Standard value of hours (EUR, rate card)	ROLE: PROJECT AND DELIVERY MANAGEMENT	(own + freelancer hours) x rate card	27,897.7	25,446.7	27,241.725	29,654.25	32,887.575	37,946.8	38,324.9	39,897.15	37,949.2879	34,389.6029	31,209.4536	27,507.5667	31,462.3949	35,740.1032	39,578.5452	41,761.2422	41,437.0248	39,817.8424	39,219.5341	37,742.0382	35,186.5698	37,217.0992	36,767.3909	33,794.8722	390,352.7111	449,724.6571
Rate card factor (FY2027 = 1 + rate card change)	DELIVERY TOTALS		1	1	1	1	1	1	1	1	1	1	1	1	1.06	1.06	1.06	1.06	1.06	1.06	1.06	1.06	1.06	1.06	1.06	1.06	1	1.06
DELIVERY HEADCOUNT	DELIVERY TOTALS		33	33	33	34	32	32	33	33	33	34	35	35	35.6	35.6	36.15	36.15	36.15	36.15	36.15	36.15	36.15	36.15	36.15	36.15	35	36.15
Productive hours available	DELIVERY TOTALS		5,016	4,818	5,214	5,100	4,800	4,416	3,696	4,488	5,214	5,576	5,320	4,270	5,411.2	5,197.6	5,711.7	5,422.5	5,422.5	4,988.7	4,048.8	4,916.4	5,711.7	5,928.6	5,494.8	4,410.3	57,928	62,664.8
Billable hours demanded	DELIVERY TOTALS		3,133.3	2,928.7	3,104.4	3,337.6	3,567.8	3,958.1	3,969.1	4,109.4	3,955.5931	3,685.8816	3,447.8271	3,150.8304	3,358.2537	3,634.0088	3,964.9738	4,114.3468	4,092.8826	4,003.7808	3,925.3188	3,857.276	3,715.3868	3,851.6206	3,806.9624	3,572.9568	42,348.5321	45,897.7679
Billable hours worked by own staff	DELIVERY TOTALS		3,133	2,928.4	3,104.1	3,337.3	3,567.5	3,643.3	3,166.1	3,695.8	3,880.5727	3,685.8816	3,447.8271	3,150.8304	3,358.2537	3,634.0088	3,964.9738	4,089.3495	4,077.3928	3,958.0885	3,470.8964	3,841.5192	3,715.3868	3,851.6206	3,806.9624	3,559.4373	40,740.6117	45,327.8897
Billable hours bought from freelancers	DELIVERY TOTALS		0.3	0.3	0.3	0.3	0.3	314.8	803	413.6	75.0204	0	0	0	0	0	0	24.9973	15.4898	45.6923	454.4224	15.7568	0	0	0	13.5195	1,607.9204	569.8782
UTILISATION (own billable / productive hours)	DELIVERY TOTALS		62.46%	60.78%	59.53%	65.44%	74.32%	82.5%	85.66%	82.35%	74.43%	66.1%	64.81%	73.79%	62.06%	69.92%	69.42%	75.41%	75.19%	79.34%	85.73%	78.14%	65.05%	64.97%	69.28%	80.71%	70.33%	72.33%
Standard value of all hours (EUR, rate card)	DELIVERY TOTALS		334,161.655	312,028.455	331,188.96	357,021.64	381,933.655	423,447.145	424,449.65	439,767.64	423,569.3919	395,353.3225	369,447.758	337,046.8772	381,648.7337	413,343.6261	450,927.6137	467,689.8772	465,220.1368	454,269.9334	445,102.6	437,410.6622	421,210.3095	436,971.6344	431,764.485	404,667.5029	4,529,416.1496	5,210,227.1149
Fee revenue (EUR): retainers, projects, time and materials, media fees	DELIVERY TOTALS	FX	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	356,904.5251	376,271.3088	399,214.17	378,321.8275	360,669.6734	321,189.1806	338,887.9306	371,274.9698	412,834.1813	434,113.9681	432,794.4297	422,278.301	412,378.6536	403,107.4013	387,812.1502	405,803.5837	407,443.2104	379,229.3156	4,006,109.0013	4,807,958.0953
REALISATION (fee revenue / standard value)	DELIVERY TOTALS		85.23%	84.44%	84.84%	85.58%	84.41%	84.16%	84.09%	85.56%	94.25%	95.69%	97.62%	95.3%	88.8%	89.82%	91.55%	92.82%	93.03%	92.96%	92.65%	92.16%	92.07%	92.87%	94.37%	93.71%	88.45%	92.28%
Effective fee per hour worked (EUR)	DELIVERY TOTALS		90.8917	89.9634	90.5066	91.5448	90.3662	90.0317	89.9208	91.5636	100.924	102.6408	104.6078	101.9379	100.912	102.1668	104.1203	105.5122	105.7432	105.4699	105.0561	104.5057	104.38	105.3592	107.0258	106.1388	94.5985	104.7536
Value written off vs the rate card (EUR)	DELIVERY TOTALS	standard value - fee revenue	49,370.7174	48,552.6115	50,220.252	51,481.7411	59,525.1545	67,092.7176	67,545.1249	63,496.3312	24,355.2218	17,031.495	8,778.0846	15,857.6966	42,760.803	42,068.6563	38,093.4324	33,575.9091	32,425.7071	31,991.6325	32,723.9464	34,303.2609	33,398.1593	31,168.0507	24,321.2746	25,438.1873	523,307.1482	402,269.0196
FREELANCER COST (EUR ex VAT)	DELIVERY TOTALS	A: purchase ledger; F: freelancer hours x rate + specialists, inflated	5,062.83	5,921.18	5,125.2	6,532.51	5,209.98	25,536.25	59,683.52	32,476.4	11,126.5281	5,500	5,500	5,500	5,747.5	5,747.5	5,747.5	7,413.395	6,718.7117	8,841.2873	38,064.1285	6,735.4516	5,747.5	5,747.5	5,747.5	6,595.1742	173,174.3981	108,853.1482
Own hours charged at standard cost rate (EUR)	DELIVERY TOTALS	own hours x standard cost rate x pay inflation	158,758.7964	148,004.9101	157,462.9842	170,122.7738	182,222.3586	184,907.1041	159,868.2432	187,288.3438	197,851.2444	189,294.0513	176,601.3438	160,646.0492	179,872.7041	195,071.3113	212,866.384	219,408.7859	218,767.6479	211,435.6631	184,541.6382	204,969.2307	198,036.6146	205,675.2179	203,105.7001	189,289.2029	2,073,028.2028	2,423,040.1008
Recovery variance: own hours at standard cost less delivery payroll (+ over / - under)	DELIVERY TOTALS	People	-19,361.1156	-29,356.3559	-22,886.0358	-16,304.7802	4,530.6066	7,619.4281	-23,140.7208	3,285.2458	16,284.6444	1,171.2513	-16,472.0562	-32,427.3508	-25,999.7363	-10,801.1291	3,994.7832	10,537.185	9,896.047	2,564.0623	-24,329.9627	-3,902.3702	-10,834.9863	-3,196.383	-5,765.9007	-19,582.3979	-127,057.2392	-77,420.7885
Standard cost rate: brand and content retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	46.5236	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	48.6172	46.5236	48.6172
Standard cost rate: performance retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	46.6714	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	48.7716	46.6714	48.7716
Standard cost rate: product design and development retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	54.0743	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	56.5076	54.0743	56.5076
Standard cost rate: fixed-fee projects	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	52.9164	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	55.2977	52.9164	55.2977
Standard cost rate: time and materials	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	55.0597	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	57.5374	55.0597	57.5374
Standard cost rate: media management	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x standard cost rate x pay inflation	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	47.3612	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	49.4925	47.3612	49.4925
Rate card: brand and content retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	102.55	108.703	108.703	108.703	108.703	108.703	108.703	108.703	108.703	108.703	108.703	108.703	108.703	102.55	108.703
Rate card: performance retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	102.8	108.968	108.968	108.968	108.968	108.968	108.968	108.968	108.968	108.968	108.968	108.968	108.968	102.8	108.968
Rate card: product design and development retainers	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	110.5	117.13	117.13	117.13	117.13	117.13	117.13	117.13	117.13	117.13	117.13	117.13	117.13	110.5	117.13
Rate card: fixed-fee projects	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	108.55	115.063	115.063	115.063	115.063	115.063	115.063	115.063	115.063	115.063	115.063	115.063	115.063	108.55	115.063
Rate card: time and materials	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	110	110	110	110	110	110	110	110	110	110	110	110	116.6	116.6	116.6	116.6	116.6	116.6	116.6	116.6	116.6	116.6	116.6	116.6	110	116.6
Rate card: media management	BLENDED RATES BY WORK TYPE (EUR per hour)	role mix x rate card x rate card factor	104	104	104	104	104	104	104	104	104	104	104	104	110.24	110.24	110.24	110.24	110.24	110.24	110.24	110.24	110.24	110.24	110.24	110.24	104	110.24

CLIENTS: REVENUE BY STREAM, HOURS, INVOICING, CASH, RECEIVABLES AND CONTRACT POSITIONS (invoice currency unless stated)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Retainer fees	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Retainers	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	44,520	44,520	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	504,000	630,240
Project fees	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Projects	23,398.5	14,877	8,673.5	0	0	0	8,234.38	21,717.5	25,689.9137	20,684.1908	8,674.0155	0	0	0	0	0	0	0	0	0	0	0	0	0	131,949	0
Time and materials	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		65,398.5	56,877	50,673.5	42,000	42,000	42,000	50,234.38	63,717.5	67,689.9137	62,684.1908	50,674.0155	42,000	44,520	44,520	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	635,949	630,240
Revenue (EUR at the monthly average rate)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		75,222.5673	65,282.066	58,091.1603	48,426.7085	48,457.4382	48,582.996	58,497.0946	74,426.7676	81,476.9944	75,451.706	60,995.2983	50,554.5594	53,587.833	53,587.833	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	745,465.3565	758,607.2748
Production cost (EUR)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	revenue - production cost	75,222.5673	65,282.066	58,091.1603	48,426.7085	48,457.4382	48,582.996	58,497.0946	74,426.7676	81,476.9944	75,451.706	60,995.2983	50,554.5594	53,587.833	53,587.833	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	65,143.1609	745,465.3565	758,607.2748
Hours worked (retainers, projects, time and materials, media)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	engine sheets	761.1	653	599.8	486.3	483.1	490.1	566.9	699.1	687.5361	651.0772	541.7005	462.7063	462.7063	462.7063	570.7062	570.7062	570.7062	570.7062	570.7062	570.7062	570.7062	570.7062	570.7062	570.7062	7,082.42	6,632.475
Delivery cost at standard (EUR)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	hours x standard cost rate of the work type	40,870.7642	35,129.1928	32,328.0484	26,296.3283	26,123.2906	26,501.8107	30,564.9825	37,566.6722	36,917.7058	34,988.4313	29,200.6078	25,020.513	26,146.4361	26,146.4361	31,413.7715	31,413.7715	31,413.7715	31,413.7715	31,413.7715	31,413.7715	31,413.7715	31,413.7715	31,413.7715	31,413.7715	381,508.3475	366,430.5874
Media spend rebilled at cost (not revenue)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	fees + media + recharges	80,000	42,000	70,500	42,000	42,000	42,000	67,500	42,000	76,000	42,000	67,500	42,000	44,520	44,520	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	655,500	630,240
VAT on invoices	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		80,000	42,000	70,500	42,000	42,000	42,000	67,500	42,000	76,000	42,000	67,500	42,000	44,520	44,520	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	655,500	630,240
Cash received	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	A: bank; F: opening + invoiced - closing at days to collect	41,018.64	84,117.35	42,294.42	66,531.52	43,620.08	49,695.84	41,559.96	61,230.8	44,710.42	70,333.3333	47,666.6667	63,250	46,250	44,100	44,520	52,520	54,120	54,120	54,120	54,120	54,120	54,120	54,120	54,120	656,029.03	620,350
RECEIVABLE (incl. VAT)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	opening + invoiced - received	92,760.39	50,643.04	78,848.62	54,317.1	52,697.02	45,001.18	70,941.22	51,710.42	83,000	54,666.6667	74,500	53,250	51,520	51,940	61,540	63,140	63,140	63,140	63,140	63,140	63,140	63,140	63,140	63,140	53,250	63,140
Contract position (+ unbilled work / - deferred income)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021	opening + revenue - invoiced revenue	4,949.5	19,826.5	0	0	0	0	-17,265.62	4,451.88	-3,858.2063	16,825.9845	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		107,088.8825	57,791.8978	90,804.9014	62,703.7229	60,764.7568	52,218.8726	82,901.4058	60,375.5137	99,905.4389	65,801.1726	89,674.159	64,095.9593	62,013.5929	62,519.1385	74,074.4664	76,000.3544	76,000.3544	76,000.3544	76,000.3544	76,000.3544	76,000.3544	76,000.3544	76,000.3544	76,000.3544	64,095.9593	76,000.3544
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	HAL Halvergate Money Ltd \| United Kingdom \| GBP \| client since 2021		35.2489	25.2385	37.3558	32.0629	31.1066	32.5723	42.7052	31.1286	40.8065	31.16	36.6275	32.0554	30.5066	36.1487	39.204	37.6955	35.4667	35.4667	35.4667	35.4667	35.4667	35.4667	35.4667	35.4667	32.0554	35.4667
Retainer fees	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Retainers	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,105	15,105	15,105	15,105	15,105	15,105	15,105	15,105	15,105	180,000	180,945
Project fees	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	TM_Media	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	6,050	6,655	8,167.5	7,260	5,142.5	5,142.5	5,747.5	5,747.5	5,747.5	5,460.125	4,885.375	5,172.75	5,747.5	6,322.25	7,759.125	6,897	70,972.24	69,771.625
Production recharged (principal)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		20,174.76	19,773.96	20,334.27	21,207.19	20,624.28	19,924.87	19,798.89	21,001.52	21,050	21,655	23,167.5	22,260	20,142.5	20,142.5	20,747.5	20,852.5	20,852.5	20,565.125	19,990.375	20,277.75	20,852.5	21,427.25	22,864.125	22,002	250,972.24	250,716.625
Revenue (EUR at the monthly average rate)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		23,205.383	22,696.0803	23,310.8299	24,452.2478	23,795.2327	23,047.8543	23,055.476	24,531.3336	25,337.4637	26,065.6901	27,886.2561	26,793.9165	24,245.1241	24,245.1241	24,973.3505	25,099.7369	25,099.7369	24,753.8294	24,062.0143	24,407.9219	25,099.7369	25,791.552	27,521.0897	26,483.3671	294,177.764	301,782.5839
Production cost (EUR)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	revenue - production cost	23,205.383	22,696.0803	23,310.8299	24,452.2478	23,795.2327	23,047.8543	23,055.476	24,531.3336	25,337.4637	26,065.6901	27,886.2561	26,793.9165	24,245.1241	24,245.1241	24,973.3505	25,099.7369	25,099.7369	24,753.8294	24,062.0143	24,407.9219	25,099.7369	25,791.552	27,521.0897	26,483.3671	294,177.764	301,782.5839
Hours worked (retainers, projects, time and materials, media)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	engine sheets	257.3	259.6	251.4	257	251.6	260.9	259.6	265.1	248.9062	248.9062	248.9062	248.9062	248.9062	248.9062	248.9062	239.4609	239.4609	239.4609	239.4609	239.4609	239.4609	239.4609	239.4609	239.4609	3,058.125	2,901.8672
Delivery cost at standard (EUR)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	hours x standard cost rate of the work type	12,020.778	12,127.7823	11,746.2888	12,006.8209	11,755.5935	12,188.263	12,127.7823	12,383.6621	11,630.2705	11,630.2705	11,630.2705	11,630.2705	12,153.6327	12,153.6327	12,153.6327	11,694.4284	11,694.4284	11,694.4284	11,694.4284	11,694.4284	11,694.4284	11,694.4284	11,694.4284	11,694.4284	142,878.0529	141,710.7539
Media spend rebilled at cost (not revenue)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	TM_Media	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	60,500	66,550	81,675	72,600	51,425	51,425	57,475	57,475	57,475	54,601.25	48,853.75	51,727.5	57,475	63,222.5	77,591.25	68,970	709,722.39	697,716.25
Invoiced ex VAT	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	fees + media + recharges	101,922.38	52,513.52	58,676.98	113,279.11	61,867.04	54,173.56	97,787.79	66,016.75	66,550	118,205	89,842.5	79,860	101,567.5	56,567.5	63,222.5	108,537.5	63,222.5	60,061.375	99,054.125	56,900.25	63,222.5	114,859.75	85,350.375	75,867	960,694.63	948,432.875
VAT on invoices	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		101,922.38	52,513.52	58,676.98	113,279.11	61,867.04	54,173.56	97,787.79	66,016.75	66,550	118,205	89,842.5	79,860	101,567.5	56,567.5	63,222.5	108,537.5	63,222.5	60,061.375	99,054.125	56,900.25	63,222.5	114,859.75	85,350.375	75,867	960,694.63	948,432.875
Cash received	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	A: bank; F: opening + invoiced - closing at days to collect	68,870.03	100,682.27	53,418.87	52,918.66	120,402.2	65,730.95	54,774.75	98,750.33	59,142.85	66,550	118,205	89,842.5	79,860	101,567.5	56,567.5	63,222.5	108,537.5	63,222.5	60,061.375	99,054.125	56,900.25	63,222.5	114,859.75	85,350.375	949,288.41	952,425.875
RECEIVABLE (incl. VAT)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	opening + invoiced - received	101,506.13	53,337.38	58,595.49	118,955.94	60,420.78	48,863.39	91,876.43	59,142.85	66,550	118,205	89,842.5	79,860	101,567.5	56,567.5	63,222.5	108,537.5	63,222.5	60,061.375	99,054.125	56,900.25	63,222.5	114,859.75	85,350.375	75,867	79,860	75,867
Contract position (+ unbilled work / - deferred income)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022	opening + revenue - invoiced revenue	-30,000	-15,000	0	-30,000	-15,000	0	-30,000	-15,000	0	-30,000	-15,000	0	-30,000	-15,000	0	-30,210	-15,105	0	-30,210	-15,105	0	-30,210	-15,105	0	0	0
Receivable (EUR at the month-end rate)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		117,185.5576	60,866.5754	67,480.6698	137,322.8745	69,670.9985	56,700.5384	107,366.1435	69,053.393	80,104.9031	142,280.9928	108,141.6192	96,125.8837	122,254.7671	68,089.1677	76,099.658	130,644.4166	76,099.658	72,294.6751	119,229.4679	68,489.6922	76,099.658	138,254.3824	102,734.5382	91,319.5896	96,125.8837	91,319.5896
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	THV Thornbury & Vale Home Ltd \| United Kingdom \| GBP \| client since 2022		30.2758	20.9984	25.0755	48.3307	23.5664	19.4329	39.1862	24.7448	26.3479	42.9885	29.8387	25.2971	34.1466	21.6767	26.0479	43.3527	24.5375	23.6285	40.6306	24.0228	26.307	44.5787	29.5482	25.0621	25.2971	25.0621
Retainer fees	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Retainers	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,971	10,971	10,971	10,971	10,971	10,971	10,971	80,500	134,297
Project fees	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,971	10,971	10,971	10,971	10,971	10,971	10,971	80,500	134,297
Revenue (EUR at the monthly average rate)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	13,302.487	13,391.5575	13,432.8533	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	95,496.1771	161,650.6112
Production cost (EUR)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	revenue - production cost	0	0	0	0	0	13,302.487	13,391.5575	13,432.8533	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	95,496.1771	161,650.6112
Hours worked (retainers, projects, time and materials, media)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	engine sheets	0	0	0	0	0	153.2	146.2	148.3	144.6167	144.6167	144.6167	144.6167	144.6167	144.6167	144.6167	144.6167	144.6167	130.155	130.155	130.155	130.155	130.155	130.155	130.155	1,026.1667	1,634.1683
Delivery cost at standard (EUR)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	hours x standard cost rate of the work type	0	0	0	0	0	7,127.4154	6,801.7503	6,899.4498	6,728.0879	6,728.0879	6,728.0879	6,728.0879	7,030.8518	7,030.8518	7,030.8518	7,030.8518	7,030.8518	6,327.7667	6,327.7667	6,327.7667	6,327.7667	6,327.7667	6,327.7667	6,327.7667	47,740.9671	79,448.6258
Media spend rebilled at cost (not revenue)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	fees + media + recharges	0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,971	10,971	10,971	10,971	10,971	10,971	10,971	80,500	134,297
VAT on invoices	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,971	10,971	10,971	10,971	10,971	10,971	10,971	80,500	134,297
Cash received	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	-276.45	12,029.94	10,077.43	12,669.08	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,971	10,971	10,971	10,971	10,971	10,971	69,000	134,826
RECEIVABLE (incl. VAT)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	opening + invoiced - received	0	0	0	0	0	11,776.45	11,246.51	12,669.08	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	11,500	10,971	10,971	10,971	10,971	10,971	10,971	10,971	11,500	10,971
Contract position (+ unbilled work / - deferred income)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	13,665.2626	13,142.5917	14,792.0325	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,842.3198	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,205.5731	13,842.3198	13,205.5731
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	PEL Pellworth Health Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	93.3924	44.5949	33.4904	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	29.4532	29.9191	30.4	30.4	30.4	30.4	30.4	30.4	30.4
Retainer fees	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	21,719.066	22,543.8407	20,894.2914	16,770.4181	22,147.9489	21,273.6877	23,022.21	21,856.5285	21,856.5285	20,108.0062	16,319.5413	19,816.5858	23,022.21	23,896.4711	22,147.9489	17,776.6432	221,401.7362	253,244.3101
Media management fees	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	21,719.066	22,543.8407	20,894.2914	16,770.4181	22,147.9489	21,273.6877	23,022.21	21,856.5285	21,856.5285	20,108.0062	16,319.5413	19,816.5858	23,022.21	23,896.4711	22,147.9489	17,776.6432	221,401.7362	253,244.3101
Revenue (EUR at the monthly average rate)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		23,639.441	20,794.9842	21,308.262	17,149.4425	18,843.9324	20,506.6975	15,909.147	22,918.3166	26,142.8051	27,135.5699	25,150.0404	20,186.2166	26,659.0428	25,606.7122	27,711.3734	26,308.2659	26,308.2659	24,203.6046	19,643.5052	23,852.8278	27,711.3734	28,763.7041	26,659.0428	21,397.3896	259,684.8552	304,825.1078
Production cost (EUR)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	revenue - production cost	23,639.441	20,794.9842	21,308.262	17,149.4425	18,843.9324	20,506.6975	15,909.147	22,918.3166	26,142.8051	27,135.5699	25,150.0404	20,186.2166	26,659.0428	25,606.7122	27,711.3734	26,308.2659	26,308.2659	24,203.6046	19,643.5052	23,852.8278	27,711.3734	28,763.7041	26,659.0428	21,397.3896	259,684.8552	304,825.1078
Hours worked (retainers, projects, time and materials, media)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	engine sheets	257.5	224.5	222.5	190.7	206.7	215.2	169	246.3	264	274.0253	253.9747	203.8481	253.9747	243.9494	264	250.6329	250.6329	230.5823	187.1392	227.2405	264	274.0253	253.9747	203.8481	2,728.2481	2,904
Delivery cost at standard (EUR)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	hours x standard cost rate of the work type	14,177.873	12,360.9028	12,250.7834	10,499.8849	11,380.8402	11,848.8476	9,305.0894	13,561.2043	14,535.761	15,087.7519	13,983.7701	11,223.8155	14,613.0397	14,036.2092	15,189.8703	14,420.7629	14,420.7629	13,267.1019	10,767.503	13,074.825	15,189.8703	15,766.7008	14,613.0397	11,728.8872	150,216.5242	167,088.5728
Media spend rebilled at cost (not revenue)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	fees + media + recharges	14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	21,719.066	22,543.8407	20,894.2914	16,770.4181	22,147.9489	21,273.6877	23,022.21	21,856.5285	21,856.5285	20,108.0062	16,319.5413	19,816.5858	23,022.21	23,896.4711	22,147.9489	218,826.7081	252,238.085
VAT on invoices	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	21,719.066	22,543.8407	20,894.2914	16,770.4181	22,147.9489	21,273.6877	23,022.21	21,856.5285	21,856.5285	20,108.0062	16,319.5413	19,816.5858	23,022.21	23,896.4711	22,147.9489	218,826.7081	252,238.085
Cash received	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	A: bank; F: opening + invoiced - closing at days to collect	17,042.51	16,709.45	18,134.38	19,624.88	16,268.18	17,166.74	18,356.48	13,913.57	17,413.89	16,641.29	20,669.833	22,131.4534	21,719.066	18,832.3547	19,459.1835	21,710.8183	22,147.9489	22,439.3692	21,856.5285	20,982.2673	18,213.7737	18,068.0636	21,419.3979	23,459.3406	214,072.6564	250,308.1123
RECEIVABLE (incl. VAT)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	opening + invoiced - received	24,565.04	28,407.72	28,390.97	27,353.5	25,958.86	25,124.91	24,496.47	24,244.88	26,451.59	31,529.366	33,403.3737	32,166.2117	27,217.5638	30,533.1579	32,347.6622	33,659.0539	33,367.6335	32,784.7927	31,036.2705	26,373.5444	27,976.3565	32,930.5029	35,407.5762	34,096.1844	32,166.2117	34,096.1844
Contract position (+ unbilled work / - deferred income)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024	opening + revenue - invoiced revenue	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	21,719.066	22,543.8407	20,894.2914	16,770.4181	22,147.9489	21,273.6877	23,022.21	21,856.5285	21,856.5285	20,108.0062	16,319.5413	19,816.5858	23,022.21	23,896.4711	22,147.9489	17,776.6432	16,770.4181	17,776.6432
Receivable (EUR at the month-end rate)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		28,359.5474	32,417.8021	32,696.0603	31,576.912	29,933.0743	29,154.6682	28,626.4009	28,307.5845	31,839.2495	37,951.2669	40,206.9724	38,717.8253	32,761.2368	36,752.1511	38,936.2336	40,514.7295	40,163.9526	39,462.3989	37,357.7376	31,745.3075	33,674.5804	39,637.7873	42,619.3908	41,040.8948	38,717.8253	41,040.8948
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	ASH Ashgrove Mobility Ltd \| United Kingdom \| GBP \| client since 2024		52.607	49.7068	48.9785	43.569	45.8998	46.0177	45.6546	46.3328	47.2918	52.2799	47.6866	45.0228	41.2274	46.5558	49.0116	46.2	46.0018	44.8035	44.3507	41.268	45.3637	50.7665	48.3878	45.0228	45.0228	45.0228
Retainer fees	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Projects	0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	8,738.67	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,000	0
Time and materials	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	6,161.8329	5,710.9671	4,583.8025	6,053.6251	5,814.6662	6,292.584	5,973.9722	5,973.9722	5,496.0544	4,460.5659	5,416.4014	6,292.584	6,531.5429	6,053.6251	4,858.8307	16,456.6025	69,218.424
Media management fees	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	8,738.67	6,161.8329	5,710.9671	4,583.8025	6,053.6251	5,814.6662	6,292.584	5,973.9722	5,973.9722	5,496.0544	4,460.5659	5,416.4014	6,292.584	6,531.5429	6,053.6251	4,858.8307	161,456.6025	69,218.424
Revenue (EUR at the monthly average rate)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	8,976.1667	24,570.7895	33,793.2944	37,811.4517	34,073.9447	18,551.7398	10,518.5622	7,416.875	6,874.1768	5,517.4314	7,286.6274	6,998.9974	7,574.2574	7,190.7507	7,190.7507	6,615.4907	5,369.0939	6,519.614	7,574.2574	7,861.8875	7,286.6274	5,848.4773	188,104.4322	83,316.8317
Production cost (EUR)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	revenue - production cost	0	0	8,976.1667	24,570.7895	33,793.2944	37,811.4517	34,073.9447	18,551.7398	10,518.5622	7,416.875	6,874.1768	5,517.4314	7,286.6274	6,998.9974	7,574.2574	7,190.7507	7,190.7507	6,615.4907	5,369.0939	6,519.614	7,574.2574	7,861.8875	7,286.6274	5,848.4773	188,104.4322	83,316.8317
Hours worked (retainers, projects, time and materials, media)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	engine sheets	0	0	78.3	213.1	292.9	358.3	302.7	164.3	85.88	74.7342	69.2658	55.5949	69.2658	66.5316	72	68.3544	68.3544	62.8861	51.038	61.9747	72	74.7342	69.2658	55.5949	1,695.0749	792
Delivery cost at standard (EUR)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	hours x standard cost rate of the work type	0	0	4,143.357	11,276.4928	15,499.2245	18,959.9595	16,017.8056	8,694.1706	4,544.4636	4,114.8414	3,813.7555	3,061.0406	3,985.3745	3,828.0571	4,142.6919	3,932.9353	3,932.9353	3,618.3005	2,936.5917	3,565.8614	4,142.6919	4,300.0093	3,985.3745	3,198.7874	90,125.1111	45,569.6108
Media spend rebilled at cost (not revenue)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	fees + media + recharges	0	0	43,500	0	0	58,000	0	0	43,500	0	6,161.8329	5,710.9671	4,583.8025	6,053.6251	5,814.6662	6,292.584	5,973.9722	5,973.9722	5,496.0544	4,460.5659	5,416.4014	6,292.584	6,531.5429	6,053.6251	156,872.8	68,943.3958
VAT on invoices	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	43,500	0	0	58,000	0	0	43,500	0	6,161.8329	5,710.9671	4,583.8025	6,053.6251	5,814.6662	6,292.584	5,973.9722	5,973.9722	5,496.0544	4,460.5659	5,416.4014	6,292.584	6,531.5429	6,053.6251	156,872.8	68,943.3958
Cash received	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	0	0	6,145.72	37,354.28	0	-720.54	58,720.54	0	0	43,500	0	6,161.8329	5,710.9671	4,583.8025	6,053.6251	5,814.6662	6,292.584	5,973.9722	5,973.9722	5,496.0544	4,460.5659	5,416.4014	6,292.584	6,531.5429	151,161.8329	68,600.7378
RECEIVABLE (incl. VAT)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	opening + invoiced - received	0	0	37,354.28	0	0	58,720.54	0	0	43,500	0	6,161.8329	5,710.9671	4,583.8025	6,053.6251	5,814.6662	6,292.584	5,973.9722	5,973.9722	5,496.0544	4,460.5659	5,416.4014	6,292.584	6,531.5429	6,053.6251	5,710.9671	6,053.6251
Contract position (+ unbilled work / - deferred income)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025	opening + revenue - invoiced revenue	0	0	-35,670	-14,360	14,930	-10,382	18,879	34,761.33	0	6,161.8329	5,710.9671	4,583.8025	6,053.6251	5,814.6662	6,292.584	5,973.9722	5,973.9722	5,496.0544	4,460.5659	5,416.4014	6,292.584	6,531.5429	6,053.6251	4,858.8307	4,583.8025	4,858.8307
Receivable (EUR at the month-end rate)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	43,018.5298	0	0	68,138.6665	0	0	52,360.0794	0	7,416.875	6,874.1768	5,517.4314	7,286.6274	6,998.9974	7,574.2574	7,190.7507	7,190.7507	6,615.4907	5,369.0939	6,519.614	7,574.2574	7,861.8875	7,286.6274	6,874.1768	7,286.6274
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	TWL Tidewell Learning Ltd \| United Kingdom \| GBP \| client since 2025		0	0	78.3152	0	0	92.333	0	0	91.2	0	11.3157	43.8684	25.4027	33.7703	32.2328	31.6	30.1322	29.869	28.7342	25.536	32.1326	35.4916	32.6568	29.2456	43.8684	29.2456
Retainer fees	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Retainers	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,126	18,126	18,126	18,126	18,126	18,126	216,000	216,756
Project fees	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Projects	24,537.6	17,880.37	13,892.31	5,436.92	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	61,747.2	0
Time and materials	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		42,537.6	35,880.37	31,892.31	23,436.92	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,126	18,126	18,126	18,126	18,126	18,126	277,747.2	216,756
Revenue (EUR at the monthly average rate)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		48,927.5362	41,182.6341	36,560.7525	27,023.1641	20,767.4735	20,821.284	20,960.6987	21,025.3355	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,817.9034	21,817.9034	21,817.9034	21,817.9034	21,817.9034	21,817.9034	323,933.8377	260,904.8592
Production cost (EUR)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	revenue - production cost	48,927.5362	41,182.6341	36,560.7525	27,023.1641	20,767.4735	20,821.284	20,960.6987	21,025.3355	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,817.9034	21,817.9034	21,817.9034	21,817.9034	21,817.9034	21,817.9034	323,933.8377	260,904.8592
Hours worked (retainers, projects, time and materials, media)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	engine sheets	465.1	442.2	356.3	273.6	207.3	195.5	216.4	199.9	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	198.9437	188.9966	188.9966	188.9966	188.9966	188.9966	188.9966	3,152.075	2,327.6419
Delivery cost at standard (EUR)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	hours x standard cost rate of the work type	24,854.0056	23,647.4295	19,092.4132	14,726.5287	11,209.6008	10,571.5241	11,701.6769	10,809.451	10,757.7425	10,757.7425	10,757.7425	10,757.7425	11,241.8409	11,241.8409	11,241.8409	11,241.8409	11,241.8409	11,241.8409	10,679.7489	10,679.7489	10,679.7489	10,679.7489	10,679.7489	10,679.7489	169,643.5998	131,529.5385
Media spend rebilled at cost (not revenue)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	fees + media + recharges	66,000	18,000	18,000	54,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,126	18,126	18,126	18,126	18,126	18,126	300,000	216,756
VAT on invoices	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		66,000	18,000	18,000	54,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,126	18,126	18,126	18,126	18,126	18,126	300,000	216,756
Cash received	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	A: bank; F: opening + invoiced - closing at days to collect	23,008.3	62,068.25	18,299.53	20,094.93	49,958.26	18,207.37	20,703.32	17,431.82	17,702.08	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,126	18,126	18,126	18,126	18,126	301,473.86	216,630
RECEIVABLE (incl. VAT)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	opening + invoiced - received	62,465.56	18,397.31	18,097.78	52,002.85	20,044.59	19,837.22	17,133.9	17,702.08	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,126	18,126	18,126	18,126	18,126	18,126	18,000	18,126
Contract position (+ unbilled work / - deferred income)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024	opening + revenue - invoiced revenue	-1,209.6	16,670.77	30,563.08	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		72,114.477	20,994.3056	20,842.0531	60,032.1501	23,113.3494	23,018.8911	20,022.5538	20,668.4102	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,666.2398	21,817.9034	21,817.9034	21,817.9034	21,817.9034	21,817.9034	21,817.9034	21,666.2398	21,817.9034
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	RVM Ravenmoor Travel Ltd \| United Kingdom \| GBP \| client since 2024		28.772	13.3161	16.1815	52.6962	20.3119	20.1017	28.9373	29.8968	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.5415	30.4706	30.4	30.4	30.4	30.4	30.4	30.4
Retainer fees	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	4,220	10,360	12,960	14,075.289	10,274.7935	4,109.9174	0	0	0	0	0	0	0	0	0	0	0	0	0	56,000	0
Time and materials	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	4,147.7625	5,513.3484	1,932.0381	1,486.1831	594.4733	0	0	0	0	0	0	0	0	0	0	0	0	0	13,673.8053	0
REVENUE (GBP)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	4,220	14,507.7625	18,473.3484	16,007.3271	11,760.9767	4,704.3907	0	0	0	0	0	0	0	0	0	0	0	0	0	69,673.8053	0
Revenue (EUR at the monthly average rate)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	4,881.4344	16,894.0466	21,578.2416	19,267.6993	14,156.4522	5,662.5809	0	0	0	0	0	0	0	0	0	0	0	0	0	82,440.4549	0
Production cost (EUR)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Projects	0	0	0	0	0	0	4,200	5,600	2,022.2222	1,555.5556	622.2222	0	0	0	0	0	0	0	0	0	0	0	0	0	14,000	0
NET REVENUE (EUR)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	revenue - production cost	0	0	0	0	0	4,881.4344	12,694.0466	15,978.2416	17,245.4771	12,600.8967	5,040.3587	0	0	0	0	0	0	0	0	0	0	0	0	0	68,440.4549	0
Hours worked (retainers, projects, time and materials, media)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	engine sheets	0	0	0	0	0	42.2	103.6	129.6	130.1781	100.137	40.0548	0	0	0	0	0	0	0	0	0	0	0	0	0	545.77	0
Delivery cost at standard (EUR)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	hours x standard cost rate of the work type	0	0	0	0	0	2,233.0737	5,482.1429	6,857.9703	6,888.5638	5,298.8952	2,119.5581	0	0	0	0	0	0	0	0	0	0	0	0	0	28,880.204	0
Media spend rebilled at cost (not revenue)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	fees + media + recharges	0	0	0	0	0	16,800	4,147.7625	5,513.3484	24,332.0381	1,486.1831	17,394.4733	0	0	0	0	0	0	0	0	0	0	0	0	0	69,673.8053	0
VAT on invoices	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	16,800	4,147.7625	5,513.3484	24,332.0381	1,486.1831	17,394.4733	0	0	0	0	0	0	0	0	0	0	0	0	0	69,673.8053	0
Cash received	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	-1,898.27	18,401.35	4,729.32	5,228.7109	24,332.0381	1,486.1831	17,394.4733	0	0	0	0	0	0	0	0	0	0	0	0	69,673.8053	0
RECEIVABLE (incl. VAT)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	opening + invoiced - received	0	0	0	0	0	18,698.27	4,444.6825	5,228.7109	24,332.0381	1,486.1831	17,394.4733	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	0	-12,580	-2,220	10,740	2,415.289	12,690.0826	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	21,697.2661	5,194.0244	6,104.8838	29,287.9873	1,788.8889	20,937.3793	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	MAR Marlowe Street Coffee Roasters Ltd \| United Kingdom \| GBP \| client since 2026		0	0	0	0	0	101.5049	19.3508	18.0211	65.2803	4.326	36.7109	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Retainers	0	0	0	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,000	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	234,000	313,638
Project fees	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Projects	0	0	0	0	0	0	0	0	18,750	41,250	41,250	18,750	0	0	0	0	0	0	0	0	0	0	0	0	120,000	0
Time and materials	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Projects	0	0	0	0	0	0	0	0	5,905.263	12,991.5786	12,991.5786	5,905.263	0	0	0	0	0	0	0	0	0	0	0	0	37,793.6832	0
REVENUE (USD)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	26,000	26,000	26,000	26,000	26,000	50,655.263	80,241.5786	80,241.5786	50,655.263	26,000	26,000	26,000	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	391,793.6832	313,638
Revenue (EUR at the monthly average rate)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	22,413.7931	22,273.6229	22,571.4038	22,728.2661	22,529.3531	45,034.4262	71,337.769	71,337.769	45,034.4262	23,114.9739	23,114.9739	23,114.9739	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	345,260.8294	278,835.9299
Production cost (EUR)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Projects	0	0	0	0	0	0	0	0	4,687.5	10,312.5	10,312.5	4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	30,000	0
NET REVENUE (EUR)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	revenue - production cost	0	0	0	22,413.7931	22,273.6229	22,571.4038	22,728.2661	22,529.3531	40,346.9262	61,025.269	61,025.269	40,346.9262	23,114.9739	23,114.9739	23,114.9739	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	23,276.7787	315,260.8294	278,835.9299
Hours worked (retainers, projects, time and materials, media)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	engine sheets	0	0	0	251.1	255.8	244.2	240.5	235.1	371.1856	540.4044	540.4044	371.1856	230.17	230.17	230.17	218.6615	218.6615	218.6615	218.6615	218.6615	218.6615	218.6615	218.6615	218.6615	3,049.88	2,658.4635
Delivery cost at standard (EUR)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	hours x standard cost rate of the work type	0	0	0	13,578.0548	13,832.204	13,204.9422	13,004.8673	12,712.8661	19,908.3243	28,862.7777	28,862.7777	19,908.3243	13,006.3624	13,006.3624	13,006.3624	12,356.0443	12,356.0443	12,356.0443	12,356.0443	12,356.0443	12,356.0443	12,356.0443	12,356.0443	12,356.0443	163,875.1384	150,223.4863
Media spend rebilled at cost (not revenue)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	fees + media + recharges	0	0	0	26,000	26,000	26,000	26,000	26,000	67,905.263	38,991.5786	86,991.5786	67,905.263	26,000	26,000	26,000	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	391,793.6832	313,638
VAT on invoices	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	26,000	26,000	26,000	26,000	26,000	67,905.263	38,991.5786	86,991.5786	67,905.263	26,000	26,000	26,000	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	26,182	391,793.6832	313,638
Cash received	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	-6,422.24	21,362.46	22,766.7	25,566.49	29,807.61	23,918.98	46,952.6315	53,448.4208	62,991.5786	77,448.4208	46,952.6315	26,000	26,000	26,091	26,182	26,182	26,182	26,182	26,182	26,182	26,182	280,392.6309	385,766.0523
RECEIVABLE (incl. VAT)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	opening + invoiced - received	0	0	0	32,422.24	37,059.78	40,293.08	40,726.59	36,918.98	80,905.263	72,944.2101	106,487.3679	111,401.0523	59,952.6315	39,000	39,000	39,182	39,273	39,273	39,273	39,273	39,273	39,273	39,273	39,273	111,401.0523	39,273
Contract position (+ unbilled work / - deferred income)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	-17,250	24,000	17,250	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	27,706.5801	31,827.3617	35,363.4193	35,460.6791	31,837.6854	71,927.8093	64,850.135	94,671.2588	99,039.7082	53,300.135	34,672.4608	34,672.4608	34,834.2656	34,915.168	34,915.168	34,915.168	34,915.168	34,915.168	34,915.168	34,915.168	34,915.168	99,039.7082	34,915.168
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	QFS Quillfield Software Inc. \| United States \| USD \| client since 2026		0	0	0	113.7272	64.9972	47.1119	47.6188	43.1668	61.5366	50.0577	50.0888	52.4001	30.2254	29.6634	45.6	45.7062	45.7059	45.6	45.6	45.6	45.6	45.6	45.6	45.6	52.4001	45.6
Retainer fees	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Retainers	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,077	11,077	11,077	11,077	11,077	11,077	132,000	132,462
Project fees	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	TM_Media	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	8,910	9,801	12,028.5	10,692	7,573.5	7,573.5	8,464.5	8,910	8,910	8,464.5	7,194.825	7,618.05	8,464.5	9,310.95	11,427.075	10,157.4	101,526.69	104,068.8
Production recharged (principal)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (USD)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		17,089.74	17,229.02	18,471.54	18,892.7	19,439.94	18,753.34	19,095.02	19,123.89	19,910	20,801	23,028.5	21,692	18,573.5	18,573.5	19,464.5	19,910	19,910	19,464.5	18,271.825	18,695.05	19,541.5	20,387.95	22,504.075	21,234.4	233,526.69	236,530.8
Revenue (EUR at the monthly average rate)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		14,440.6101	14,524.549	15,853.3579	16,286.8103	16,653.7651	16,280.3542	16,692.1806	16,571.1104	17,700.7358	18,492.8681	20,473.1991	19,285.0005	16,512.5372	16,512.5372	17,304.6696	17,700.7358	17,700.7358	17,304.6696	16,244.3368	16,620.5997	17,373.1255	18,125.6512	20,006.9656	18,878.177	203,254.5412	210,284.7409
Production cost (EUR)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	revenue - production cost	14,440.6101	14,524.549	15,853.3579	16,286.8103	16,653.7651	16,280.3542	16,692.1806	16,571.1104	17,700.7358	18,492.8681	20,473.1991	19,285.0005	16,512.5372	16,512.5372	17,304.6696	17,700.7358	17,700.7358	17,304.6696	16,244.3368	16,620.5997	17,373.1255	18,125.6512	20,006.9656	18,878.177	203,254.5412	210,284.7409
Hours worked (retainers, projects, time and materials, media)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	engine sheets	165.2	168.3	172.8	177.6	180.5	164.7	174.2	172.6	168.4938	168.4938	168.4938	168.4938	168.4938	168.4938	168.4938	168.4938	168.4938	168.4938	163.5691	163.5691	163.5691	163.5691	163.5691	163.5691	2,049.875	1,992.3769
Delivery cost at standard (EUR)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	hours x standard cost rate of the work type	7,758.4021	7,903.0835	8,113.1048	8,337.1276	8,472.4747	7,735.0664	8,178.4448	8,103.7705	7,912.126	7,912.126	7,912.126	7,912.126	8,268.1717	8,268.1717	8,268.1717	8,268.1717	8,268.1717	8,268.1717	8,027.9867	8,027.9867	8,027.9867	8,027.9867	8,027.9867	8,027.9867	96,249.9785	97,776.9505
Media spend rebilled at cost (not revenue)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	TM_Media	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	99,000	108,900	133,650	118,800	84,150	84,150	94,050	99,000	99,000	94,050	79,942.5	84,645	94,050	103,455	126,967.5	112,860	1,128,074.31	1,156,320
Invoiced ex VAT	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	fees + media + recharges	84,753.52	86,440.32	101,488.64	106,589.36	113,217.09	104,901.51	109,039.73	109,389.33	118,910	129,701	156,678.5	140,492	102,723.5	102,723.5	113,514.5	118,910	118,910	113,514.5	98,214.325	103,340.05	113,591.5	123,842.95	149,471.575	134,094.4	1,361,601	1,392,850.8
VAT on invoices	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		84,753.52	86,440.32	101,488.64	106,589.36	113,217.09	104,901.51	109,039.73	109,389.33	118,910	129,701	156,678.5	140,492	102,723.5	102,723.5	113,514.5	118,910	118,910	113,514.5	98,214.325	103,340.05	113,591.5	123,842.95	149,471.575	134,094.4	1,361,601	1,392,850.8
Cash received	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	A: bank; F: opening + invoiced - closing at days to collect	108,093.63	151,952.1	73,474.85	104,268.91	101,484.01	78,717.88	134,762.36	89,911.9	117,436.78	109,389.33	118,910	129,701	156,678.5	140,492	102,723.5	102,723.5	113,514.5	118,910	118,910	113,514.5	98,214.325	103,340.05	113,591.5	123,842.95	1,318,102.75	1,406,455.325
RECEIVABLE (incl. VAT)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	opening + invoiced - received	230,332.14	164,820.36	192,834.15	195,154.6	206,887.68	233,071.31	207,348.68	226,826.11	228,299.33	248,611	286,379.5	297,170.5	243,215.5	205,447	216,238	232,424.5	237,820	232,424.5	211,728.825	201,554.375	216,931.55	237,434.45	273,314.525	283,565.975	297,170.5	283,565.975
Contract position (+ unbilled work / - deferred income)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		193,247.8731	139,619.1105	167,711.0367	166,770.2957	177,677.4991	204,556.1787	180,538.6852	195,607.2008	202,966.6558	221,024.4912	254,602.1024	264,195.7056	216,227.6896	182,650.0784	192,243.6816	206,634.0864	211,430.888	206,634.0864	188,234.8561	179,189.389	192,860.2735	211,088.1196	242,986.8502	252,100.7733	264,195.7056	252,100.7733
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	HOC Harrowgate Outdoor Co. \| United States \| USD \| client since 2023		82.6172	58.5364	64.4943	60.4312	58.7253	65.4622	57.8014	63.9795	61.721	63.3332	64.4424	63.4897	55.4678	54.1621	61.8285	63.247	61.7337	60.3331	58.4011	58.342	62.7778	63.5436	64.4246	63.4773	63.4897	63.4773
Retainer fees	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Projects	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	26,282.3573	9,243.5927	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Time and materials	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (USD)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	26,282.3573	9,243.5927	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Revenue (EUR at the monthly average rate)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	5,757.5198	17,952.8988	24,660.0431	31,771.5412	31,626.8947	26,681.4634	26,498.6872	23,366.0001	8,217.9002	0	0	0	0	0	0	0	0	0	0	0	0	0	0	196,532.9484	0
Production cost (EUR)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	revenue - production cost	0	5,757.5198	17,952.8988	24,660.0431	31,771.5412	31,626.8947	26,681.4634	26,498.6872	23,366.0001	8,217.9002	0	0	0	0	0	0	0	0	0	0	0	0	0	0	196,532.9484	0
Hours worked (retainers, projects, time and materials, media)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	engine sheets	0	74.8	229.1	313.3	455.4	504.2	476.8	433.7	320.118	119.447	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,926.865	0
Delivery cost at standard (EUR)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	hours x standard cost rate of the work type	0	3,958.1495	12,123.1558	16,578.7198	24,098.1455	26,680.4677	25,230.5573	22,949.8589	16,939.5035	6,320.7103	0	0	0	0	0	0	0	0	0	0	0	0	0	0	154,879.2682	0
Media spend rebilled at cost (not revenue)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	fees + media + recharges	0	63,000	0	0	16,500	67,500	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
VAT on invoices	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	63,000	0	0	16,500	67,500	0	0	11,550	67,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	226,500	0
Disputed invoice held outside the collection curve (CR-03)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	raised May-26; settled in the scenario month	0	0	0	0	16,500	16,500	16,500	16,500	16,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Disputed invoice: cash recovered on settlement	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	amount x recovery share	0	0	0	0	0	0	0	0	0	13,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	13,200	0
Disputed invoice: written off on settlement	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	amount x (1 - recovery share)	0	0	0	0	0	0	0	0	0	3,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,300	0
Cash received	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	0	-6,791.25	42,203.85	27,587.4	0	-3,568.35	39,681.55	31,386.8	0	18,975	39,750	33,975	0	0	0	0	0	0	0	0	0	0	0	0	223,200	0
RECEIVABLE (incl. VAT)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	opening + invoiced - received - written off	0	69,791.25	27,587.4	0	16,500	87,568.35	47,886.8	16,500	28,050	73,725	33,975	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025	opening + revenue - invoiced revenue	0	-56,170.43	-35,252.61	-6,646.96	13,939.96	-17,129.02	13,393.24	43,974.05	58,706.4073	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	59,120.0762	23,993.2162	0	14,170.3882	76,854.792	41,695.0805	14,229.0445	24,937.5007	65,544.2865	30,205.0476	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	NOR Norbeck Analytics Inc. \| United States \| USD \| client since 2025		0	67.3541	39.936	0	91.2	95.0742	51.9914	22.2933	221.4857	84.5751	38.9751	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Retainers	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	222,000	211,788
Project fees	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	8,750	19,250	19,250	8,750	0	0	0	0	0	0	0	0	0	0	0	47,250	8,750
Time and materials	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	27,250	37,750	37,750	26,399	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	269,250	220,538
Revenue (EUR at the monthly average rate)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	27,250	37,750	37,750	26,399	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	269,250	220,538
Production cost (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	revenue - production cost	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	27,250	37,750	37,750	26,399	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	269,250	220,538
Hours worked (retainers, projects, time and materials, media)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	engine sheets	245.6	240.6	251	231.6	238.5	233.5	245.4	234.3	215.0312	298.1562	397.9062	397.9062	276.6531	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	193.5281	3,229.5	2,405.4625
Delivery cost at standard (EUR)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	hours x standard cost rate of the work type	11,426.196	11,193.578	11,677.4235	10,774.8657	11,095.8785	10,863.2605	11,416.8913	10,900.4794	10,004.0278	14,402.7066	19,681.1212	19,681.1212	14,005.4075	9,408.7881	9,408.7881	9,408.7881	9,408.7881	9,408.7881	9,408.7881	9,408.7881	9,408.7881	9,408.7881	9,408.7881	9,408.7881	153,117.5498	117,502.0767
Media spend rebilled at cost (not revenue)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	fees + media + recharges	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	35,300	18,500	40,900	34,449	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	261,200	228,588
VAT on invoices	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	35,300	18,500	40,900	34,449	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	261,200	228,588
Cash received	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	A: bank; F: opening + invoiced - closing at days to collect	20,421.71	15,239.5	21,514.74	16,125.73	17,698.39	22,496.94	15,114.98	18,315.87	19,171.34	18,500	35,300	18,500	40,900	34,449	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	238,399.2	251,839
RECEIVABLE (incl. VAT)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	opening + invoiced - received	16,177.49	19,437.99	16,423.25	18,797.52	19,599.13	15,602.19	18,987.21	19,171.34	18,500	35,300	18,500	40,900	34,449	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	40,900	17,649
Contract position (+ unbilled work / - deferred income)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	-8,050	11,200	8,050	0	0	0	0	0	0	0	0	0	0	0	0	8,050	0
Receivable (EUR at the month-end rate)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		16,177.49	19,437.99	16,423.25	18,797.52	19,599.13	15,602.19	18,987.21	19,171.34	18,500	35,300	18,500	40,900	34,449	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	17,649	40,900	17,649
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	VOL Voltaro Energie GmbH \| Germany \| EUR \| client since 2023		26.5836	31.9413	26.9874	30.8889	32.2061	25.6382	31.2006	31.5032	30.4	44.5278	23.3361	39.3884	33.4766	17.3078	23.0775	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	30.4	39.3884	30.4
Retainer fees	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Retainers	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,112	16,112	16,112	192,000	192,336
Project fees	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	TM_Media	3,665.15	3,603.32	3,776.17	4,148.92	3,786.87	4,056.14	3,502.94	3,509.39	4,400	4,840	5,940	5,280	3,740	3,740	4,180	4,400	4,400	4,180	3,740	3,960	4,400	4,598	5,643	5,016	50,508.9	51,997
Production recharged (principal)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		19,665.15	19,603.32	19,776.17	20,148.92	19,786.87	20,056.14	19,502.94	19,509.39	20,400	20,840	21,940	21,280	19,740	19,740	20,180	20,400	20,400	20,180	19,740	19,960	20,400	20,710	21,755	21,128	242,508.9	244,333
Revenue (EUR at the monthly average rate)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		19,665.15	19,603.32	19,776.17	20,148.92	19,786.87	20,056.14	19,502.94	19,509.39	20,400	20,840	21,940	21,280	19,740	19,740	20,180	20,400	20,400	20,180	19,740	19,960	20,400	20,710	21,755	21,128	242,508.9	244,333
Production cost (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	revenue - production cost	19,665.15	19,603.32	19,776.17	20,148.92	19,786.87	20,056.14	19,502.94	19,509.39	20,400	20,840	21,940	21,280	19,740	19,740	20,180	20,400	20,400	20,180	19,740	19,960	20,400	20,710	21,755	21,128	242,508.9	244,333
Hours worked (retainers, projects, time and materials, media)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	engine sheets	223.1	217.8	211.2	208.9	222	223.5	225.7	213.5	214.1062	214.1062	214.1062	214.1062	214.1062	214.1062	214.1062	214.1062	214.1062	214.1062	214.1062	214.1062	214.1062	205.6509	205.6509	205.6509	2,602.125	2,543.9091
Delivery cost at standard (EUR)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	hours x standard cost rate of the work type	10,443.4321	10,196.0736	9,888.0423	9,780.6981	10,392.0936	10,462.1007	10,564.7778	9,995.3866	10,023.6811	10,023.6811	10,023.6811	10,023.6811	10,474.7468	10,474.7468	10,474.7468	10,474.7468	10,474.7468	10,474.7468	10,474.7468	10,474.7468	10,474.7468	10,062.3674	10,062.3674	10,062.3674	121,817.3293	124,459.8233
Media spend rebilled at cost (not revenue)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	TM_Media	36,651.48	36,033.18	37,761.67	41,489.22	37,868.66	40,561.35	35,029.41	35,093.95	44,000	48,400	59,400	52,800	37,400	37,400	41,800	44,000	44,000	41,800	37,400	39,600	44,000	45,980	56,430	50,160	505,088.92	519,970
Invoiced ex VAT	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	fees + media + recharges	88,316.63	39,636.5	41,537.84	93,638.14	41,655.53	44,617.49	86,532.35	38,603.34	48,400	101,240	65,340	58,080	89,140	41,140	45,980	96,400	48,400	45,980	89,140	43,560	48,400	98,914	62,073	55,176	747,597.82	764,303
VAT on invoices	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		88,316.63	39,636.5	41,537.84	93,638.14	41,655.53	44,617.49	86,532.35	38,603.34	48,400	101,240	65,340	58,080	89,140	41,140	45,980	96,400	48,400	45,980	89,140	43,560	48,400	98,914	62,073	55,176	747,597.82	764,303
Cash received	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	A: bank; F: opening + invoiced - closing at days to collect	48,155.13	96,637.13	31,469.7	42,108.42	85,084.95	47,633.69	46,522.02	93,369.04	31,062.21	48,400	101,240	65,340	58,080	89,140	41,140	45,980	96,400	48,400	45,980	89,140	43,560	48,400	98,914	62,073	737,022.29	767,207
RECEIVABLE (incl. VAT)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	opening + invoiced - received	87,665.97	30,665.34	40,733.48	92,263.2	48,833.78	45,817.58	85,827.91	31,062.21	48,400	101,240	65,340	58,080	89,140	41,140	45,980	96,400	48,400	45,980	89,140	43,560	48,400	98,914	62,073	55,176	58,080	55,176
Contract position (+ unbilled work / - deferred income)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024	opening + revenue - invoiced revenue	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,000	-16,000	0	-32,224	-16,112	0	0	0
Receivable (EUR at the month-end rate)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		87,665.97	30,665.34	40,733.48	92,263.2	48,833.78	45,817.58	85,827.91	31,062.21	48,400	101,240	65,340	58,080	89,140	41,140	45,980	96,400	48,400	45,980	89,140	43,560	48,400	98,914	62,073	55,176	58,080	55,176
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	LIN Lindgrove Retail B.V. \| Netherlands \| EUR \| client since 2024		30.176	14.5714	21.9179	48.1339	25.1858	23.2257	45.2967	16.6882	25.4362	49.0487	27.7189	23.5774	38.246	19.9191	23.7909	47.9058	23.137	21.9802	44.298	22.2334	24.3737	47.2613	27.0363	23.279	23.5774	23.279
Retainer fees	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Retainers	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	13,356	168,000	161,560
Project fees	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	TM_Media	2,629.71	2,664.43	2,879.38	3,097.34	3,121.14	2,970.27	2,499.33	2,488.19	3,300	3,630	4,455	3,960	2,805	2,805	2,821.5	2,970	2,970	2,821.5	2,524.5	2,673	2,970	3,267	4,009.5	3,564	37,694.79	36,201
Production recharged (principal)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		16,629.71	16,664.43	16,879.38	17,097.34	17,121.14	16,970.27	16,499.33	16,488.19	17,300	17,630	18,455	17,960	16,805	16,805	16,177.5	16,326	16,326	16,177.5	15,880.5	16,029	16,326	16,623	17,365.5	16,920	205,694.79	197,761
Revenue (EUR at the monthly average rate)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		16,629.71	16,664.43	16,879.38	17,097.34	17,121.14	16,970.27	16,499.33	16,488.19	17,300	17,630	18,455	17,960	16,805	16,805	16,177.5	16,326	16,326	16,177.5	15,880.5	16,029	16,326	16,623	17,365.5	16,920	205,694.79	197,761
Production cost (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	revenue - production cost	16,629.71	16,664.43	16,879.38	17,097.34	17,121.14	16,970.27	16,499.33	16,488.19	17,300	17,630	18,455	17,960	16,805	16,805	16,177.5	16,326	16,326	16,177.5	15,880.5	16,029	16,326	16,623	17,365.5	16,920	205,694.79	197,761
Hours worked (retainers, projects, time and materials, media)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	engine sheets	201.4	195	203.4	191.2	193.9	187.7	197.4	199.2	190.575	190.575	190.575	190.575	190.575	190.575	175.5175	175.5175	175.5175	175.5175	175.5175	175.5175	175.5175	175.5175	175.5175	175.5175	2,331.5	2,136.325
Delivery cost at standard (EUR)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	hours x standard cost rate of the work type	9,427.2136	9,128.5165	9,520.5564	8,951.1652	9,077.178	8,787.8152	9,240.5279	9,324.5365	8,921.9956	8,921.9956	8,921.9956	8,921.9956	9,323.4854	9,323.4854	8,589.1066	8,589.1066	8,589.1066	8,589.1066	8,589.1066	8,589.1066	8,589.1066	8,589.1066	8,589.1066	8,589.1066	109,145.4916	104,538.0369
Media spend rebilled at cost (not revenue)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	TM_Media	26,297.13	26,644.31	28,793.82	30,973.38	31,211.42	29,702.68	24,993.32	24,881.93	33,000	36,300	44,550	39,600	28,050	28,050	28,215	29,700	29,700	28,215	25,245	26,730	29,700	32,670	40,095	35,640	376,947.99	362,010
Invoiced ex VAT	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	fees + media + recharges	42,926.84	43,308.74	45,673.2	48,070.72	48,332.56	46,672.95	41,492.65	41,370.12	50,300	53,930	63,005	57,560	44,855	44,855	44,392.5	46,026	46,026	44,392.5	41,125.5	42,759	46,026	49,293	57,460.5	52,560	582,642.78	559,771
VAT on invoices	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		42,926.84	43,308.74	45,673.2	48,070.72	48,332.56	46,672.95	41,492.65	41,370.12	50,300	53,930	63,005	57,560	44,855	44,855	44,392.5	46,026	46,026	44,392.5	41,125.5	42,759	46,026	49,293	57,460.5	52,560	582,642.78	559,771
Cash received	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	51,045.39	48,141.74	38,125.32	40,889.24	50,424.69	52,689.94	43,750.92	48,310.61	37,007.38	50,300	53,930	63,005	57,560	44,855	44,855	44,392.5	46,026	46,026	44,392.5	41,125.5	42,759	46,026	49,293	57,460.5	577,620.23	564,771
RECEIVABLE (incl. VAT)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	opening + invoiced - received	44,418.9	39,585.9	47,133.78	54,315.26	52,223.13	46,206.14	43,947.87	37,007.38	50,300	53,930	63,005	57,560	44,855	44,855	44,392.5	46,026	46,026	44,392.5	41,125.5	42,759	46,026	49,293	57,460.5	52,560	57,560	52,560
Contract position (+ unbilled work / - deferred income)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		44,418.9	39,585.9	47,133.78	54,315.26	52,223.13	46,206.14	43,947.87	37,007.38	50,300	53,930	63,005	57,560	44,855	44,855	44,392.5	46,026	46,026	44,392.5	41,125.5	42,759	46,026	49,293	57,460.5	52,560	57,560	52,560
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	VDH Veldhaven Fietsen B.V. \| Netherlands \| EUR \| client since 2025		31.4566	27.9099	32.5877	36.1434	33.5224	29.4528	29.3634	26.0552	34.4493	33.7803	34.3592	30.0838	24.7296	27.7774	30.1903	31.0303	30.7639	29.6721	28.5125	30.4	32.3113	32.5578	34.3004	30.0883	30.0838	30.0883
Retainer fees	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Projects	0	0	0	0	7,070	18,120	19,810	24,973.33	18,865.2115	7,161.4585	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Time and materials	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	7,070	18,120	19,810	24,973.33	18,865.2115	7,161.4585	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Revenue (EUR at the monthly average rate)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	7,070	18,120	19,810	24,973.33	18,865.2115	7,161.4585	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Production cost (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	revenue - production cost	0	0	0	0	7,070	18,120	19,810	24,973.33	18,865.2115	7,161.4585	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Hours worked (retainers, projects, time and materials, media)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	engine sheets	0	0	0	0	70.7	181.2	198.1	271.6	182.1286	72.8514	0	0	0	0	0	0	0	0	0	0	0	0	0	0	976.58	0
Delivery cost at standard (EUR)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	hours x standard cost rate of the work type	0	0	0	0	3,741.1921	9,588.4584	10,482.7462	14,372.1044	9,637.5951	3,855.0381	0	0	0	0	0	0	0	0	0	0	0	0	0	0	51,677.1343	0
Media spend rebilled at cost (not revenue)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	fees + media + recharges	0	0	0	0	28,800	0	0	38,400	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
VAT on invoices	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	28,800	0	0	38,400	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
Cash received	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	-733.15	29,533.15	0	2,725.74	35,674.26	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	96,000	0
RECEIVABLE (incl. VAT)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	opening + invoiced - received	0	0	0	0	29,533.15	0	0	35,674.26	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026	opening + revenue - invoiced revenue	0	0	0	0	-21,730	-3,610	16,200	2,773.33	21,638.5415	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	29,533.15	0	0	35,674.26	0	28,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	VLM Van Lienden Mobiliteit B.V. \| Netherlands \| EUR \| client since 2026		0	0	0	0	93.5216	0	0	84.7264	0	39.0857	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Retainers	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Project fees	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Revenue (EUR at the monthly average rate)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Production cost (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	revenue - production cost	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Hours worked (retainers, projects, time and materials, media)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	engine sheets	173.7	166.3	168.2	171.9	166.6	163.6	160.1	174.5	154.0563	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,498.9562	0
Delivery cost at standard (EUR)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	hours x standard cost rate of the work type	8,081.1492	7,736.8746	7,825.2694	7,997.4068	7,750.8317	7,611.2609	7,448.4283	8,118.3681	7,167.2513	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	69,736.8403	0
Media spend rebilled at cost (not revenue)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	fees + media + recharges	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
VAT on invoices	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	121,500	0
Cash received	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	A: bank; F: opening + invoiced - closing at days to collect	14,979.91	12,244.86	14,849.75	12,379.78	13,716.36	13,234.24	13,589.08	12,458.29	14,640.69	9,450	0	0	0	0	0	0	0	0	0	0	0	0	0	0	131,542.96	0
RECEIVABLE (incl. VAT)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	opening + invoiced - received	8,563.05	9,818.19	8,468.44	9,588.66	9,372.3	9,638.06	9,548.98	10,590.69	9,450	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Contract position (+ unbilled work / - deferred income)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		8,563.05	9,818.19	8,468.44	9,588.66	9,372.3	9,638.06	9,548.98	10,590.69	9,450	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	SRV Sarvivaara Oy \| Finland \| EUR \| client since 2022		19.2827	22.1091	19.0697	21.5922	21.105	21.7035	21.5029	23.8487	21.28	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Projects	10,258.69	4,833.42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15,092.11	0
Time and materials	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	TM_Media	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	8,345.5125	87,377.7518	118,889.3507
Media management fees	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		10,258.69	4,833.42	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	8,345.5125	102,469.8618	118,889.3507
Revenue (EUR at the monthly average rate)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		10,258.69	4,833.42	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	8,345.5125	102,469.8618	118,889.3507
Production cost (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	revenue - production cost	10,258.69	4,833.42	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	8,345.5125	102,469.8618	118,889.3507
Hours worked (retainers, projects, time and materials, media)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	engine sheets	133.4	51.6	96.2	91.5	99.9	86.4	64.5	90.6	108	112.1013	103.8987	83.3924	103.8987	99.7975	108	102.5316	102.5316	94.3291	76.557	92.962	108	112.1013	103.8987	83.3924	1,121.4924	1,188
Delivery cost at standard (EUR)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	hours x standard cost rate of the work type	7,059.0527	2,730.4882	5,296.7432	5,037.9626	5,500.4641	4,757.1581	3,551.3507	4,988.4089	5,946.4477	6,172.2622	5,720.6332	4,591.5609	5,978.0617	5,742.0856	6,214.0378	5,899.403	5,899.403	5,427.4508	4,404.8876	5,348.7921	6,214.0378	6,450.014	5,978.0617	4,798.1811	61,352.5325	68,354.4162
Media spend rebilled at cost (not revenue)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	fees + media + recharges	0	22,200	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	101,704.6268	118,416.9632
VAT on invoices	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		0	22,200	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	101,704.6268	118,416.9632
Cash received	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	A: bank; F: opening + invoiced - closing at days to collect	0	1,693.13	20,506.87	-317.13	9,866.63	8,030.82	9,454.63	7,698.71	5,867.45	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	91,895.4874	117,828.4148
RECEIVABLE (incl. VAT)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	opening + invoiced - received	0	20,506.87	0	9,025.5	7,550.7	8,818.56	7,638.28	5,867.45	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	9,809.1394	10,397.6877
Contract position (+ unbilled work / - deferred income)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025	opening + revenue - invoiced revenue	17,366.58	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	8,345.5125	7,873.125	8,345.5125
Receivable (EUR at the month-end rate)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		0	20,506.87	0	9,025.5	7,550.7	8,818.56	7,638.28	5,867.45	8,314.49	10,196.3423	10,583.5451	9,809.1394	7,873.125	10,397.6877	9,987.2527	10,808.1228	10,260.8761	10,260.8761	9,440.006	7,661.4541	9,303.1943	10,808.1228	11,218.5578	10,397.6877	9,809.1394	10,397.6877
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	CAR Carrigmore Foods DAC \| Ireland \| EUR \| client since 2025		0	56.163	0	26.6312	40.2699	30.4654	26.829	22.7698	33.6764	38.0505	33.1755	29.2456	25.4027	33.7703	32.2328	31.6	30.1322	29.869	28.7342	25.536	32.1326	35.4916	32.6568	29.2456	29.2456	29.2456
Retainer fees	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Retainers	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	9,063	108,000	108,756
Project fees	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	TM_Media	2,137.69	2,336.6	2,412.33	2,564.13	2,472.11	2,564.77	2,427.7	2,629.53	2,904	3,194.4	3,920.4	3,484.8	2,344.98	2,344.98	2,620.86	2,758.8	2,758.8	2,620.86	2,344.98	2,482.92	2,758.8	3,034.68	3,724.38	3,310.56	33,048.46	33,105.6
Production recharged (principal)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		11,137.69	11,336.6	11,412.33	11,564.13	11,472.11	11,564.77	11,427.7	11,629.53	11,904	12,194.4	12,920.4	12,484.8	11,407.98	11,407.98	11,683.86	11,821.8	11,821.8	11,683.86	11,407.98	11,545.92	11,821.8	12,097.68	12,787.38	12,373.56	141,048.46	141,861.6
Revenue (EUR at the monthly average rate)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		11,137.69	11,336.6	11,412.33	11,564.13	11,472.11	11,564.77	11,427.7	11,629.53	11,904	12,194.4	12,920.4	12,484.8	11,407.98	11,407.98	11,683.86	11,821.8	11,821.8	11,683.86	11,407.98	11,545.92	11,821.8	12,097.68	12,787.38	12,373.56	141,048.46	141,861.6
Production cost (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	revenue - production cost	11,137.69	11,336.6	11,412.33	11,564.13	11,472.11	11,564.77	11,427.7	11,629.53	11,904	12,194.4	12,920.4	12,484.8	11,407.98	11,407.98	11,683.86	11,821.8	11,821.8	11,683.86	11,407.98	11,545.92	11,821.8	12,097.68	12,787.38	12,373.56	141,048.46	141,861.6
Hours worked (retainers, projects, time and materials, media)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	engine sheets	134	125.3	130.5	134.8	129.5	132.4	126.2	132.7	127.8375	127.8375	127.8375	127.8375	122.9456	122.9456	122.9456	122.9456	122.9456	122.9456	122.9456	122.9456	122.9456	122.9456	122.9456	122.9456	1,556.75	1,475.3475
Delivery cost at standard (EUR)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	hours x standard cost rate of the work type	6,274.6626	5,868.6214	6,111.3127	6,311.9998	6,064.6413	6,199.9884	5,910.6256	6,213.9898	5,987.0501	5,987.0501	5,987.0501	5,987.0501	6,017.8826	6,017.8826	6,017.8826	6,017.8826	6,017.8826	6,017.8826	6,017.8826	6,017.8826	6,017.8826	6,017.8826	6,017.8826	6,017.8826	72,904.0417	72,214.5915
Media spend rebilled at cost (not revenue)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	TM_Media	17,814.1	19,471.68	20,102.78	21,367.75	20,600.91	21,373.1	20,230.83	21,912.78	24,200	26,620	32,670	29,040	19,541.5	19,541.5	21,840.5	22,990	22,990	21,840.5	19,541.5	20,691	22,990	25,289	31,036.5	27,588	275,403.93	275,880
Invoiced ex VAT	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	fees + media + recharges	28,951.79	30,808.28	31,515.11	32,931.88	32,073.02	32,937.87	31,658.53	33,542.31	36,104	38,814.4	45,590.4	41,524.8	30,949.48	30,949.48	33,524.36	34,811.8	34,811.8	33,524.36	30,949.48	32,236.92	34,811.8	37,386.68	43,823.88	39,961.56	416,452.39	417,741.6
VAT on invoices	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	Client_Register VAT rate	6,948.4296	7,393.9872	7,563.6264	7,903.6512	7,697.5248	7,905.0888	7,598.0472	8,050.1544	8,664.96	9,315.456	10,941.696	9,965.952	7,427.8752	7,427.8752	8,045.8464	8,354.832	8,354.832	8,045.8464	7,427.8752	7,736.8608	8,354.832	8,972.8032	10,517.7312	9,590.7744	99,948.5736	100,257.984
INVOICED INCL. VAT	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		35,900.2196	38,202.2672	39,078.7364	40,835.5312	39,770.5448	40,842.9588	39,256.5772	41,592.4644	44,768.96	48,129.856	56,532.096	51,490.752	38,377.3552	38,377.3552	41,570.2064	43,166.632	43,166.632	41,570.2064	38,377.3552	39,973.7808	43,166.632	46,359.4832	54,341.6112	49,552.3344	516,400.9636	517,999.584
Cash received	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	A: bank; F: opening + invoiced - closing at days to collect	41,393.15	34,546.01	45,393.93	39,731.77	36,699.01	41,232.45	41,933.12	37,332.35	43,603.3783	46,561.4379	52,611.0507	53,843.3792	44,496.9404	38,377.3552	40,080.2092	42,421.6334	43,166.632	42,315.205	39,867.3524	39,228.7822	41,676.6348	44,869.486	50,616.6181	51,787.3302	514,881.036	518,904.1789
RECEIVABLE (incl. VAT)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	opening + invoiced - received	17,016.1596	20,672.4168	14,357.2232	15,460.9844	18,532.5192	18,143.028	15,466.4852	19,726.5996	20,892.1813	22,460.5995	26,381.6448	24,029.0176	17,909.4324	17,909.4324	19,399.4297	20,144.4283	20,144.4283	19,399.4297	17,909.4324	18,654.431	20,144.4283	21,634.4255	25,359.4186	23,124.4227	24,029.0176	23,124.4227
Contract position (+ unbilled work / - deferred income)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		17,016.1596	20,672.4168	14,357.2232	15,460.9844	18,532.5192	18,143.028	15,466.4852	19,726.5996	20,892.1813	22,460.5995	26,381.6448	24,029.0176	17,909.4324	17,909.4324	19,399.4297	20,144.4283	20,144.4283	19,399.4297	17,909.4324	18,654.431	20,144.4283	21,634.4255	25,359.4186	23,124.4227	24,029.0176	23,124.4227
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	TAM Tammevalla Kodu OÜ \| Estonia \| EUR \| client since 2020		14.4091	16.9614	11.5689	11.9377	14.1218	13.6242	11.7673	14.7838	15.1679	15.2308	16.1011	14.034	11.1567	12.736	14.9523	14.9225	14.3637	13.8325	13.2669	14.1867	15.1185	15.236	16.0757	14.0359	14.034	14.0359
Retainer fees	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Time and materials	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	TM_Media	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	11,770.9255	12,217.9226	11,323.9283	9,088.9425	12,003.364	11,529.547	12,477.181	11,845.425	11,845.425	10,897.791	8,844.584	10,739.852	12,477.181	12,950.998	12,003.364	9,634.279	119,014.7089	137,248.991
Media management fees	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	11,770.9255	12,217.9226	11,323.9283	9,088.9425	12,003.364	11,529.547	12,477.181	11,845.425	11,845.425	10,897.791	8,844.584	10,739.852	12,477.181	12,950.998	12,003.364	9,634.279	119,014.7089	137,248.991
Revenue (EUR at the monthly average rate)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	11,770.9255	12,217.9226	11,323.9283	9,088.9425	12,003.364	11,529.547	12,477.181	11,845.425	11,845.425	10,897.791	8,844.584	10,739.852	12,477.181	12,950.998	12,003.364	9,634.279	119,014.7089	137,248.991
Production cost (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	revenue - production cost	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	11,770.9255	12,217.9226	11,323.9283	9,088.9425	12,003.364	11,529.547	12,477.181	11,845.425	11,845.425	10,897.791	8,844.584	10,739.852	12,477.181	12,950.998	12,003.364	9,634.279	119,014.7089	137,248.991
Hours worked (retainers, projects, time and materials, media)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	engine sheets	115.9	109.7	133.7	145	113.4	121.3	95.8	99	144	149.4684	138.5316	111.1899	138.5316	133.0633	144	136.7089	136.7089	125.7722	102.0759	123.9494	144	149.4684	138.5316	111.1899	1,476.9899	1,584
Delivery cost at standard (EUR)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	hours x standard cost rate of the work type	6,381.4193	6,040.0492	7,361.482	7,983.6566	6,243.7701	6,678.7417	5,274.7193	5,450.9104	7,928.5969	8,229.6829	7,627.511	6,122.0812	7,970.749	7,656.1141	8,285.3838	7,865.8707	7,865.8707	7,236.601	5,873.1834	7,131.7227	8,285.3838	8,600.0186	7,970.749	6,397.5748	81,322.6205	91,139.2215
Media spend rebilled at cost (not revenue)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	fees + media + recharges	7,861.33	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	11,770.9255	12,217.9226	11,323.9283	9,088.9425	12,003.364	11,529.547	12,477.181	11,845.425	11,845.425	10,897.791	8,844.584	10,739.852	12,477.181	12,950.998	12,003.364	117,787.0964	136,703.6545
VAT on invoices	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	Client_Register VAT rate	1,886.7192	2,319.3984	2,112.0576	2,433.3672	2,725.1232	2,232.816	2,384.6496	1,843.872	1,855.8336	2,825.0221	2,932.3014	2,717.7428	2,181.3462	2,880.8074	2,767.0913	2,994.5234	2,842.902	2,842.902	2,615.4698	2,122.7002	2,577.5645	2,994.5234	3,108.2395	2,880.8074	28,268.9031	32,808.8771
INVOICED INCL. VAT	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		9,748.0492	11,983.5584	10,912.2976	12,572.3972	14,079.8032	11,536.216	12,320.6896	9,526.672	9,588.4736	14,595.9476	15,150.2241	14,041.6711	11,270.2886	14,884.1714	14,296.6383	15,471.7044	14,688.327	14,688.327	13,513.2608	10,967.2842	13,317.4165	15,471.7044	16,059.2375	14,884.1714	146,055.9996	169,512.5316
Cash received	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	A: bank; F: opening + invoiced - closing at days to collect	10,312.08	10,085.46	13,003.59	10,502.26	14,112.37	13,182.28	11,892.02	10,172.21	10,169.6311	11,257.6316	14,780.7064	14,780.7064	13,117.8769	12,474.9162	14,688.327	14,688.327	15,210.5786	14,688.327	14,296.6383	12,664.6019	11,750.6616	14,035.5125	15,667.5488	15,667.5488	144,250.9455	168,950.8647
RECEIVABLE (incl. VAT)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	opening + invoiced - received	6,992.0292	8,890.1276	6,798.8352	8,868.9724	8,836.4056	7,190.3416	7,619.0112	6,973.4732	6,392.3157	9,730.6317	10,100.1494	9,361.1141	7,513.5258	9,922.7809	9,531.0922	10,314.4696	9,792.218	9,792.218	9,008.8406	7,311.5228	8,878.2777	10,314.4696	10,706.1583	9,922.7809	9,361.1141	9,922.7809
Contract position (+ unbilled work / - deferred income)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019	opening + revenue - invoiced revenue	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	11,770.9255	12,217.9226	11,323.9283	9,088.9425	12,003.364	11,529.547	12,477.181	11,845.425	11,845.425	10,897.791	8,844.584	10,739.852	12,477.181	12,950.998	12,003.364	9,634.279	9,088.9425	9,634.279
Receivable (EUR at the month-end rate)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		6,992.0292	8,890.1276	6,798.8352	8,868.9724	8,836.4056	7,190.3416	7,619.0112	6,973.4732	6,392.3157	9,730.6317	10,100.1494	9,361.1141	7,513.5258	9,922.7809	9,531.0922	10,314.4696	9,792.218	9,792.218	9,008.8406	7,311.5228	8,878.2777	10,314.4696	10,706.1583	9,922.7809	9,361.1141	9,922.7809
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	OTH Other Estonian clients (11 smaller accounts) \| Estonia \| EUR \| client since 2019		21.8052	24.8725	18.9945	22.8049	21.4532	17.1717	18.3161	19.0507	18.5451	26.3247	23.4179	19.497	16.9352	22.5136	21.4886	21.0667	20.0881	19.9127	19.1562	17.024	21.4218	23.6611	21.7712	19.497	19.497	19.497
Retainer fees	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	0	108,000
Project fees	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	7,703.7037	19,259.2593	25,037.037	25,037.037	19,259.2593	7,703.7037	0	0	0	0	0	0	0	0	26,962.963	77,037.037
Time and materials	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (USD)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	7,703.7037	19,259.2593	34,037.037	34,037.037	28,259.2593	16,703.7037	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	26,962.963	185,037.037
Revenue (EUR at the monthly average rate)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	6,848.8811	17,122.2029	30,260.2008	30,260.2008	25,123.54	14,850.2183	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	23,971.084	164,504.8568
Production cost (EUR)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	6,848.8811	17,122.2029	30,260.2008	30,260.2008	25,123.54	14,850.2183	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	8,001.3371	23,971.084	164,504.8568
Hours worked (retainers, projects, time and materials, media)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	68.6111	171.5278	307.2261	307.2261	255.7678	152.8511	84.24	84.24	84.24	84.24	84.24	84.24	84.24	84.24	240.1389	1,696.9911
Delivery cost at standard (EUR)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	3,630.6556	9,076.6389	17,090.8171	17,090.8171	14,245.2909	8,554.2383	4,760.2032	4,760.2032	4,760.2032	4,760.2032	4,760.2032	4,760.2032	4,760.2032	4,760.2032	12,707.2945	95,062.7891
Media spend rebilled at cost (not revenue)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	31,200	0	9,000	50,600	9,000	40,200	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	31,200	180,800
VAT on invoices	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	31,200	0	9,000	50,600	9,000	40,200	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	31,200	180,800
Cash received	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	15,600	15,600	4,500	29,800	29,800	24,600	24,600	9,000	9,000	9,000	9,000	9,000	9,000	15,600	182,900
RECEIVABLE (incl. VAT)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	31,200	15,600	9,000	55,100	34,300	44,700	29,100	13,500	13,500	13,500	13,500	13,500	13,500	13,500	15,600	13,500
Contract position (+ unbilled work / - deferred income)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	-23,496.2963	-4,237.037	20,800	4,237.037	23,496.2963	0	0	0	0	0	0	0	0	0	-4,237.037	0
Receivable (EUR at the month-end rate)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	27,737.9687	13,868.9843	8,001.3371	48,985.9639	30,493.9848	39,739.9743	25,870.99	12,002.0057	12,002.0057	12,002.0057	12,002.0057	12,002.0057	12,002.0057	12,002.0057	13,868.9843	12,002.0057
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	FER Ferncliff Robotics Inc. \| United States \| USD \| prospect		0	0	0	0	0	0	0	0	0	0	91.2	45.6	20.4179	84.3141	45.6	40.8481	45.6	21.1546	45.6	45.6	45.6	45.6	45.6	45.6	45.6	45.6
Retainer fees	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,000	10,000	10,000	10,000	10,000	10,000	10,000	0	70,000
Project fees	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	7,311.9534	18,857.1429	25,784.2566	28,093.2945	25,784.2566	18,857.1429	7,311.9534	0	0	0	0	0	132,000
Time and materials	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (GBP)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	7,311.9534	18,857.1429	25,784.2566	28,093.2945	35,784.2566	28,857.1429	17,311.9534	10,000	10,000	10,000	10,000	0	202,000
Revenue (EUR at the monthly average rate)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	8,801.2519	22,697.9655	31,035.9936	33,815.3363	43,072.7935	34,734.7653	20,838.0518	12,036.7999	12,036.7999	12,036.7999	12,036.7999	0	243,143.3573
Production cost (EUR)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	0	8,801.2519	22,697.9655	31,035.9936	33,815.3363	43,072.7935	34,734.7653	20,838.0518	12,036.7999	12,036.7999	12,036.7999	12,036.7999	0	243,143.3573
Hours worked (retainers, projects, time and materials, media)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	0	66.5692	171.6786	234.7442	255.766	348.1442	285.0786	179.9692	113.4	113.4	113.4	113.4	0	1,995.55
Delivery cost at standard (EUR)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	3,681.1244	9,493.4262	12,980.8072	14,143.2676	18,493.9933	15,006.6123	9,194.3106	5,513.1861	5,513.1861	5,513.1861	5,513.1861	0	105,046.2861
Media spend rebilled at cost (not revenue)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	0	39,600	0	0	52,800	10,000	10,000	49,600	10,000	10,000	10,000	10,000	0	202,000
VAT on invoices	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	39,600	0	0	52,800	10,000	10,000	49,600	10,000	10,000	10,000	10,000	0	202,000
Cash received	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	0	19,800	19,800	0	26,400	31,400	10,000	29,800	29,800	10,000	10,000	0	187,000
RECEIVABLE (incl. VAT)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	0	39,600	19,800	0	52,800	36,400	15,000	54,600	34,800	15,000	15,000	15,000	0	15,000
Contract position (+ unbilled work / - deferred income)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	-32,288.0466	-13,430.9038	12,353.3528	-12,353.3528	13,430.9038	32,288.0466	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	47,665.7275	23,832.8637	0	63,554.3033	43,813.9515	18,055.1998	65,720.9273	41,888.0635	18,055.1998	18,055.1998	18,055.1998	0	18,055.1998
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	BRK Brackenholt Insurance Ltd \| United Kingdom \| GBP \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	91.2	45.6	0	91.2	52.8611	18.7912	71.5448	45.6	19.6552	45.6	45.6	0	45.6
Retainer fees	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,050	6,050	6,050	6,050	6,050	6,050	6,050	6,050	6,050	0	54,450
Project fees	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,666.6667	9,166.6667	11,916.6667	11,916.6667	9,166.6667	3,666.6667	0	0	0	0	0	49,500
Time and materials	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,666.6667	15,216.6667	17,966.6667	17,966.6667	15,216.6667	9,716.6667	6,050	6,050	6,050	6,050	0	103,950
Revenue (EUR at the monthly average rate)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,666.6667	15,216.6667	17,966.6667	17,966.6667	15,216.6667	9,716.6667	6,050	6,050	6,050	6,050	0	103,950
Production cost (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,666.6667	15,216.6667	17,966.6667	17,966.6667	15,216.6667	9,716.6667	6,050	6,050	6,050	6,050	0	103,950
Hours worked (retainers, projects, time and materials, media)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	34.8333	152.4233	178.5483	178.5483	152.4233	100.1733	65.34	65.34	65.34	65.34	0	1,058.31
Delivery cost at standard (EUR)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,926.2024	7,992.1514	9,436.8032	9,436.8032	7,992.1514	5,102.8477	3,176.6453	3,176.6453	3,176.6453	3,176.6453	0	54,593.5406
Media spend rebilled at cost (not revenue)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,850	6,050	6,050	25,850	6,050	20,900	6,050	6,050	6,050	6,050	0	103,950
VAT on invoices	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,850	6,050	6,050	25,850	6,050	20,900	6,050	6,050	6,050	6,050	0	103,950
Cash received	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,850	6,050	6,050	25,850	6,050	20,900	6,050	6,050	6,050	0	97,900
RECEIVABLE (incl. VAT)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,850	6,050	6,050	25,850	6,050	20,900	6,050	6,050	6,050	6,050	0	6,050
Contract position (+ unbilled work / - deferred income)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-11,183.3333	-2,016.6667	9,900	2,016.6667	11,183.3333	0	0	0	0	0	0	0
Receivable (EUR at the month-end rate)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,850	6,050	6,050	25,850	6,050	20,900	6,050	6,050	6,050	6,050	0	6,050
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	AUR Aurelwyn Hotels B.V. \| Netherlands \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	0	0	91.2	26.4	20.4735	62.1217	14.5391	36.1	16.72	16.72	30.4	30.4	0	30.4
Retainer fees	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Project fees	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	24,960	59,520	71,040	84,480	84,480	71,040	84,480	84,480	71,040	84,480	84,480	71,040	0	875,520
Time and materials	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Production recharged (principal)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
REVENUE (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	24,960	59,520	71,040	84,480	84,480	71,040	84,480	84,480	71,040	84,480	84,480	71,040	0	875,520
Revenue (EUR at the monthly average rate)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	24,960	59,520	71,040	84,480	84,480	71,040	84,480	84,480	71,040	84,480	84,480	71,040	0	875,520
Production cost (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Projects	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
NET REVENUE (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	revenue - production cost	0	0	0	0	0	0	0	0	0	0	0	0	24,960	59,520	71,040	84,480	84,480	71,040	84,480	84,480	71,040	84,480	84,480	71,040	0	875,520
Hours worked (retainers, projects, time and materials, media)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	engine sheets	0	0	0	0	0	0	0	0	0	0	0	0	227.24	541.88	646.76	769.12	769.12	646.76	769.12	769.12	646.76	769.12	769.12	646.76	0	7,970.88
Delivery cost at standard (EUR)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	hours x standard cost rate of the work type	0	0	0	0	0	0	0	0	0	0	0	0	12,565.8441	29,964.7052	35,764.3256	42,530.5493	42,530.5493	35,764.3256	42,530.5493	42,530.5493	35,764.3256	42,530.5493	42,530.5493	35,764.3256	0	440,771.1473
Media spend rebilled at cost (not revenue)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	TM_Media	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Invoiced ex VAT	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	fees + media + recharges	0	0	0	0	0	0	0	0	0	0	0	0	72,000	0	96,000	72,000	72,000	96,000	72,000	72,000	96,000	72,000	72,000	96,000	0	888,000
VAT on invoices	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	Client_Register VAT rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
INVOICED INCL. VAT	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	72,000	0	96,000	72,000	72,000	96,000	72,000	72,000	96,000	72,000	72,000	96,000	0	888,000
Cash received	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	A: bank; F: opening + invoiced - closing at days to collect	0	0	0	0	0	0	0	0	0	0	0	0	0	72,000	0	96,000	72,000	72,000	96,000	72,000	72,000	96,000	72,000	72,000	0	792,000
RECEIVABLE (incl. VAT)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	opening + invoiced - received	0	0	0	0	0	0	0	0	0	0	0	0	72,000	0	96,000	72,000	72,000	96,000	72,000	72,000	96,000	72,000	72,000	96,000	0	96,000
Contract position (+ unbilled work / - deferred income)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect	opening + revenue - invoiced revenue	0	0	0	0	0	0	0	0	0	0	0	0	-47,040	12,480	-12,480	0	12,480	-12,480	0	12,480	-12,480	0	12,480	-12,480	0	-12,480
Receivable (EUR at the month-end rate)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	72,000	0	96,000	72,000	72,000	96,000	72,000	72,000	96,000	72,000	72,000	96,000	0	96,000
Debtor days (receivable / average monthly invoicing of the last three months x 30.4)	NEW New clients not yet identified (FY2027 run-rate) \| United Kingdom and EU \| EUR \| prospect		0	0	0	0	0	0	0	0	0	0	0	0	91.2	0	52.1143	39.0857	27.36	36.48	27.36	27.36	36.48	27.36	27.36	36.48	0	36.48
EUR clients: retainer fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	57,500	57,500	57,500	56,712	56,712	56,068	62,118	62,118	62,118	62,118	62,118	62,118	62,230	62,230	62,230	811,500	728,890
EUR clients: project fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	10,258.69	4,833.42	0	0	7,070	18,120	19,810	24,973.33	18,865.2115	15,911.4585	19,250	19,250	33,710	59,520	74,706.6667	93,646.6667	96,396.6667	82,956.6667	93,646.6667	88,146.6667	71,040	84,480	84,480	71,040	158,342.11	933,770
EUR clients: time and materials	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	9,664.16	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	13,610.68	16,047.13	21,967.2677	22,801.4678	21,133.0677	16,962.0675	22,401.0518	21,516.7997	23,285.3038	22,106.3011	22,106.3011	20,337.797	16,506.0381	20,043.0463	23,285.3038	24,169.5558	22,401.0518	17,979.7915	206,392.4607	256,138.3417
EUR clients: media management fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	8,432.55	8,604.35	9,067.88	9,810.39	9,380.12	9,591.18	8,429.97	8,627.11	10,604	11,664.4	14,315.4	12,724.8	8,889.98	8,889.98	9,622.36	10,128.8	10,128.8	9,622.36	8,609.48	9,115.92	10,128.8	10,899.68	13,376.88	11,890.56	121,252.15	121,303.6
EUR clients: production recharged	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EUR clients: media spend rebilled	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	80,762.71	82,149.17	86,658.27	93,830.35	89,680.99	91,637.13	80,253.56	81,888.66	101,200	111,320	136,620	121,440	84,991.5	84,991.5	91,855.5	96,690	96,690	91,855.5	82,186.5	87,021	96,690	103,939	127,561.5	113,388	1,157,440.84	1,157,860
EUR clients: vat on invoices	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	10,520.7936	12,140.4781	13,873.9974	12,683.6948	9,609.2214	10,308.6826	10,812.9377	11,349.3554	11,197.734	10,888.7484	10,043.345	9,859.561	10,932.3965	11,967.3266	13,625.9707	12,471.5818	128,217.4767	133,066.8611
EUR clients: invoiced incl. vat	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	208,891.7388	187,331.0656	169,202.074	235,825.1584	213,030.268	184,968.2948	219,876.6168	207,420.4764	193,371.9236	292,192.1458	229,110.8652	231,881.5625	297,964.7689	167,303.2143	284,725.5974	307,571.4592	258,240.8351	296,390.9095	287,295.122	255,470.5191	279,912.2428	316,545.3104	296,851.9066	302,269.1935	2,573,102.1899	3,350,541.0788
EUR clients: cash received	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	186,307.37	218,587.83	184,863.9	161,420.07	226,869.25	228,033.51	182,256.77	230,382.82	197,196.3393	192,783.5595	296,858.0993	226,052.6307	223,963.9567	299,169.3965	168,810.2239	285,968.7131	307,310.3334	257,389.4081	294,296.3668	287,297.8901	257,956.7505	282,333.1927	320,998.2897	293,905.9369	2,531,612.1489	3,279,400.4584
EUR clients: receivables	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	180,833.5988	149,576.8344	133,915.0084	208,320.0968	194,481.1148	151,415.8996	189,035.7464	166,073.4028	162,248.9871	261,657.5734	193,910.3393	199,739.2711	273,740.0832	141,873.9011	257,789.2745	279,392.0207	230,322.5223	269,324.0237	262,322.779	230,495.4079	252,450.9002	286,663.0179	262,516.6347	270,879.8914	199,739.2711	270,879.8914
EUR clients: contract position (net)	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	-4,969.26	-7,199.76	18,847.4	-12,253.49	-19,127.92	14,600.39	-2,189.32	2,820.46	43,605.8092	-17,248.5322	16,333.0677	25,012.0675	-56,638.9482	17,996.7997	-378.0295	-11,910.3656	28,486.3011	9,874.4637	-4,310.6285	16,523.0463	10,805.3038	-8,054.4442	18,769.0518	5,499.7915	25,012.0675	5,499.7915
EUR clients: written off	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EUR clients: contract assets (sum of positive positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		27,030.74	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	29,810.68	18,820.46	43,605.8092	22,801.4678	32,333.0677	25,012.0675	22,401.0518	33,996.7997	23,285.3038	22,106.3011	44,486.3011	22,354.4637	27,689.3715	32,523.0463	23,285.3038	24,169.5558	34,881.0518	17,979.7915	25,012.0675	17,979.7915
EUR clients: contract liabilities (sum of negative positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		32,000	16,000	0	32,000	37,730	3,610	32,000	16,000	0	40,050	16,000	0	79,040	16,000	23,663.3333	34,016.6667	16,000	12,480	32,000	16,000	12,480	32,224	16,112	12,480	0	12,480
GBP clients: retainer fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	75,000	75,000	75,000	75,000	75,000	86,500	86,500	86,500	86,500	86,500	86,500	86,500	89,020	89,020	98,620	98,725	98,725	108,196	108,322	108,322	108,322	108,322	108,322	108,322	980,500	1,232,238
GBP clients: project fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	47,936.1	32,757.37	30,395.81	26,746.92	29,290	36,908	47,855.38	50,559.83	48,503.8727	30,958.9844	12,783.9329	0	0	7,311.9534	18,857.1429	25,784.2566	28,093.2945	25,784.2566	18,857.1429	7,311.9534	0	0	0	0	394,696.2	132,000
GBP clients: time and materials	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	21,719.066	28,705.6736	26,605.2585	21,354.2206	28,201.574	27,088.354	29,314.794	27,830.5006	27,830.5006	25,604.0606	20,780.1071	25,232.9872	29,314.794	30,428.014	28,201.574	22,635.4739	237,858.3388	322,462.7341
GBP clients: media management fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	6,050	6,655	8,167.5	7,260	5,142.5	5,142.5	5,747.5	5,747.5	5,747.5	5,460.125	4,885.375	5,172.75	5,747.5	6,322.25	7,759.125	6,897	70,972.24	69,771.625
GBP clients: production recharged	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	4,147.7625	5,513.3484	1,932.0381	1,486.1831	594.4733	0	0	0	0	0	0	0	0	0	0	0	0	0	13,673.8053	0
GBP clients: media spend rebilled	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	60,500	66,550	81,675	72,600	51,425	51,425	57,475	57,475	57,475	54,601.25	48,853.75	51,727.5	57,475	63,222.5	77,591.25	68,970	709,722.39	697,716.25
GBP clients: vat on invoices	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
GBP clients: invoiced incl. vat	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	262,117.77	133,065.65	208,794.61	227,866.52	136,740.58	216,806.35	216,663.5925	156,692.0784	259,502.6381	212,910.2492	232,942.6469	177,965.2585	196,941.7206	198,389.074	173,930.854	221,472.294	227,473.0006	180,982.8756	217,875.1856	210,497.3571	181,672.4872	237,391.544	208,995.389	197,285.574	2,442,067.9435	2,452,907.3558
GBP clients: cash received	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	149,939.48	263,577.32	138,292.92	196,524.27	230,248.72	147,905.64	224,546.34	206,133.27	156,867.0309	250,856.6614	217,527.6828	228,280.2595	183,040.0331	198,583.6573	175,900.3086	192,567.9845	220,598.0329	201,655.8414	202,382.8756	218,749.4467	192,591.5896	199,723.965	235,788.7319	208,558.2585	2,410,699.5947	2,430,140.7251
GBP clients: receivables	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	281,297.12	150,785.45	221,287.14	252,629.39	159,121.25	228,021.96	220,139.2125	170,698.0209	273,333.6281	235,387.2158	250,802.1799	200,487.1788	214,388.8663	214,194.283	212,224.8284	241,129.1379	248,004.1056	227,331.1399	242,823.4498	234,571.3602	223,652.2579	261,319.8369	234,526.494	223,253.8096	200,487.1788	223,253.8096
GBP clients: contract position (net)	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	-5,707.97	39,614.9	13,480.49	-29,486.46	16,262.79	-5,233.96	-16,944.64	54,573.81	20,276.1487	28,221.7407	11,605.2585	21,354.2206	-1,798.426	-20,199.6927	15,883.8902	9,973.8534	372.1479	39,034.9644	22,858.1538	10,127.9872	29,314.794	218.014	13,096.574	22,635.4739	21,354.2206	22,635.4739
GBP clients: written off	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
GBP clients: contract assets (sum of positive positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		25,501.63	54,614.9	49,150.49	14,873.54	31,262.79	17,728.04	32,540.98	69,573.81	24,134.3551	58,221.7407	26,605.2585	21,354.2206	28,201.574	27,088.354	29,314.794	40,183.8534	27,830.5006	39,034.9644	53,068.1538	25,232.9872	29,314.794	30,428.014	28,201.574	22,635.4739	21,354.2206	22,635.4739
GBP clients: contract liabilities (sum of negative positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		31,209.6	15,000	35,670	44,360	15,000	22,962	49,485.62	15,000	3,858.2063	30,000	15,000	0	30,000	47,288.0466	13,430.9038	30,210	27,458.3528	0	30,210	15,105	0	30,210	15,105	0	0	0
USD clients: retainer fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	11,000	11,000	11,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	46,000	46,000	46,000	46,182	46,182	46,182	46,259	46,259	46,259	46,259	46,259	46,259	366,000	554,100
USD clients: project fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	45,032.3573	50,493.5927	48,953.7037	38,009.2593	25,037.037	25,037.037	19,259.2593	7,703.7037	0	0	0	0	0	0	0	0	373,462.963	77,037.037
USD clients: time and materials	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
USD clients: media management fees	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	8,910	9,801	12,028.5	10,692	7,573.5	7,573.5	8,464.5	8,910	8,910	8,464.5	7,194.825	7,618.05	8,464.5	9,310.95	11,427.075	10,157.4	101,526.69	104,068.8
USD clients: production recharged	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	5,905.263	12,991.5786	12,991.5786	5,905.263	0	0	0	0	0	0	0	0	0	0	0	0	37,793.6832	0
USD clients: media spend rebilled	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	99,000	108,900	133,650	118,800	84,150	84,150	94,050	99,000	99,000	94,050	79,942.5	84,645	94,050	103,455	126,967.5	112,860	1,128,074.31	1,156,320
USD clients: vat on invoices	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
USD clients: invoiced incl. vat	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	84,753.52	149,440.32	101,488.64	132,589.36	155,717.09	198,401.51	135,039.73	135,389.33	198,365.263	236,642.5786	274,870.0786	208,397.263	137,723.5	179,323.5	148,514.5	185,292	154,092	148,696.5	133,396.325	138,522.05	148,773.5	159,024.95	184,653.575	169,276.4	2,011,094.6832	1,887,288.8
USD clients: cash received	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	108,093.63	145,160.85	115,678.7	125,434.07	122,846.47	97,916.23	200,010.4	151,106.31	141,355.76	175,316.9615	212,108.4208	242,267.5786	249,726.9208	191,944.6315	158,523.5	158,523.5	164,205.5	169,692	154,092	148,696.5	133,396.325	138,522.05	148,773.5	159,024.95	1,837,295.3809	1,975,121.3773
USD clients: receivables	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	230,332.14	234,611.61	220,421.55	227,576.84	260,447.46	360,932.74	295,962.07	280,245.09	337,254.593	395,280.2101	458,041.8679	424,171.5523	312,168.1315	299,547	289,538	316,306.5	306,193	285,197.5	264,501.825	254,327.375	269,704.55	290,207.45	326,087.525	336,338.975	424,171.5523	336,338.975
USD clients: contract position (net)	TOTALS BY INVOICE CURRENCY (invoice currency)	sum of clients	0	-56,170.43	-35,252.61	-6,646.96	13,939.96	-17,129.02	13,393.24	43,974.05	41,456.4073	24,000	-6,246.2963	-4,237.037	20,800	4,237.037	23,496.2963	0	0	0	0	0	0	0	0	0	-4,237.037	0
USD clients: written off	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	0	0	0	0	0	3,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,300	0
USD clients: contract assets (sum of positive positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		0	0	0	0	13,939.96	0	13,393.24	43,974.05	58,706.4073	24,000	17,250	0	20,800	4,237.037	23,496.2963	0	0	0	0	0	0	0	0	0	0	0
USD clients: contract liabilities (sum of negative positions)	TOTALS BY INVOICE CURRENCY (invoice currency)		0	56,170.43	35,252.61	6,646.96	0	17,129.02	0	0	17,250	0	23,496.2963	4,237.037	0	0	0	0	0	0	0	0	0	0	0	0	4,237.037	0
Revenue	TOTALS, ALL CLIENTS (EUR)	sum of clients	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	361,734.5251	382,711.3088	406,789.7256	391,660.7163	372,935.229	326,439.1806	338,887.9306	371,274.9698	412,834.1813	434,113.9681	432,794.4297	422,278.301	412,378.6536	403,107.4013	387,812.1502	405,803.5837	407,443.2104	379,229.3156	4,055,809.0013	4,807,958.0953
Production cost	TOTALS, ALL CLIENTS (EUR)	sum of clients	0	0	0	0	0	0	4,200	5,600	6,709.7222	11,868.0556	10,934.7222	4,687.5	0	0	0	0	0	0	0	0	0	0	0	0	44,000	0
Net revenue	TOTALS, ALL CLIENTS (EUR)	sum of clients	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	357,534.5251	377,111.3088	400,080.0034	379,792.6608	362,000.5068	321,751.6806	338,887.9306	371,274.9698	412,834.1813	434,113.9681	432,794.4297	422,278.301	412,378.6536	403,107.4013	387,812.1502	405,803.5837	407,443.2104	379,229.3156	4,011,809.0013	4,807,958.0953
Hours worked	TOTALS, ALL CLIENTS (EUR)	sum of clients	3,133.3	2,928.7	3,104.4	3,337.6	3,567.8	3,958.1	3,969.1	4,109.4	3,955.5931	3,685.8816	3,447.8271	3,150.8304	3,358.2537	3,634.0088	3,964.9738	4,114.3468	4,092.8826	4,003.7808	3,925.3188	3,857.276	3,715.3868	3,851.6206	3,806.9624	3,572.9568	42,348.5321	45,897.7679
Delivery cost at standard	TOTALS, ALL CLIENTS (EUR)	sum of clients	158,774.9485	148,020.7419	157,477.9809	170,137.7126	182,237.423	202,000.1542	202,305.1664	209,903.2598	202,379.1945	189,294.0513	176,601.3438	160,646.0492	179,872.7041	195,071.3113	212,866.384	220,672.3509	219,485.428	213,797.3271	209,261.9525	205,699.3826	198,036.6146	205,675.2179	203,105.7001	189,915.682	2,159,778.0261	2,453,460.0553
Receivables	TOTALS, ALL CLIENTS (EUR)	sum of clients	698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	732,784.4552	703,983.3115	607,049.1513	791,087.1706	896,407.3671	903,012.2813	818,166.074	809,324.8327	666,003.7759	770,650.1804	850,842.6645	801,057.147	796,509.2273	789,756.5357	738,950.8224	761,434.0943	859,213.7691	834,715.5059	838,623.9809	818,166.074	838,623.9809
Largest client share of net revenue	TOTALS, ALL CLIENTS (EUR)		26.41%	24.78%	20.68%	15.85%	15.03%	13.63%	16.36%	19.74%	20.37%	19.87%	16.86%	15.71%	15.81%	16.03%	17.21%	19.46%	19.52%	16.82%	20.49%	20.96%	18.32%	20.82%	20.73%	18.73%
HAL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	83,621.265	71,851.13	66,099.865	53,736.15	53,382.55	54,156.05	62,491.325	76,851.97	75,534.317	71,576.7046	59,703.8675	51,129.0406	54,196.7831	54,196.7831	65,965.3271	65,965.3271	65,965.3271	65,965.3271	65,965.3271	65,965.3271	65,965.3271	65,965.3271	65,965.3271	65,965.3271	780,134.2347	768,046.8368
THV: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	26,473.115	26,708.98	25,868.07	26,442.35	25,888.58	26,842.295	26,708.98	27,273.005	25,612.3359	25,612.3359	25,612.3359	25,612.3359	27,149.0761	27,149.0761	27,149.0761	26,122.3423	26,122.3423	26,122.3423	26,122.3423	26,122.3423	26,122.3423	26,122.3423	26,122.3423	26,122.3423	314,654.7188	316,548.3089
PEL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	15,710.66	14,992.81	15,208.165	14,830.4392	14,830.4392	14,830.4392	14,830.4392	15,720.2655	15,720.2655	15,720.2655	15,720.2655	15,720.2655	14,148.239	14,148.239	14,148.239	14,148.239	14,148.239	14,148.239	14,148.239	105,233.3917	177,639.0003
ASH: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	28,325	24,695	24,475	20,977	22,737	23,672	18,590	27,093	29,040	30,142.7848	27,937.2152	22,423.2911	29,613.4481	28,444.4962	30,782.4	29,223.7975	29,223.7975	26,885.8937	21,820.4354	26,496.243	30,782.4	31,951.3519	29,613.4481	23,768.6886	300,107.2911	338,606.4
TWL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	8,499.465	23,132.005	31,794.295	38,893.465	32,858.085	17,834.765	9,322.274	8,220.7595	7,619.2405	6,115.443	8,076.3949	7,757.5899	8,395.2	7,970.1266	7,970.1266	7,332.5165	5,951.0278	7,226.2481	8,395.2	8,714.0051	8,076.3949	6,482.3696	184,289.797	92,347.2
RVM: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	50,895.13	48,418.11	39,077.675	30,117.945	22,906.65	21,602.75	23,912.2	22,088.95	21,983.2844	21,983.2844	21,983.2844	21,983.2844	23,302.2814	23,302.2814	23,302.2814	23,302.2814	23,302.2814	23,302.2814	22,137.1674	22,137.1674	22,137.1674	22,137.1674	22,137.1674	22,137.1674	346,952.5475	272,636.6928
MAR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	4,580.81	11,245.78	14,068.08	14,130.838	10,869.8754	4,347.9501	0	0	0	0	0	0	0	0	0	0	0	0	0	59,243.3335	0
QFS: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	27,746.55	28,265.9	26,984.1	26,575.25	25,978.55	40,741.0311	59,109.7264	59,109.7264	40,741.0311	26,959.8121	26,959.8121	26,959.8121	25,611.8215	25,611.8215	25,611.8215	25,611.8215	25,611.8215	25,611.8215	25,611.8215	25,611.8215	25,611.8215	335,251.865	311,385.8298
HOC: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	17,066.56	17,385.24	17,847.84	18,341.28	18,639.4	17,015.16	17,991.76	17,827.28	17,405.1575	17,405.1575	17,405.1575	17,405.1575	18,449.467	18,449.467	18,449.467	18,449.467	18,449.467	18,449.467	17,912.8336	17,912.8336	17,912.8336	17,912.8336	17,912.8336	17,912.8336	211,735.15	218,173.8033
NOR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	8,119.54	24,868.805	34,008.715	49,433.67	54,730.91	51,756.64	47,078.135	34,748.8077	12,965.973	0	0	0	0	0	0	0	0	0	0	0	0	0	0	317,711.1958	0
VOL: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	25,186.28	24,673.53	25,740.05	23,750.58	24,458.175	23,945.425	25,165.77	24,027.465	22,051.4547	31,074.6734	41,902.5359	41,902.5359	30,601.6996	21,037.0878	21,037.0878	21,037.0878	21,037.0878	21,037.0878	21,037.0878	21,037.0878	21,037.0878	21,037.0878	21,037.0878	21,037.0878	333,878.475	262,009.6651
LIN: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	22,988.68	22,443.84	21,765.36	21,528.92	22,875.6	23,029.8	23,255.96	22,001.8	22,064.1225	22,064.1225	22,064.1225	22,064.1225	23,387.9699	23,387.9699	23,387.9699	23,387.9699	23,387.9699	23,387.9699	23,387.9699	23,387.9699	23,387.9699	22,466.6114	22,466.6114	22,466.6114	268,146.45	277,891.5627
VDH: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	20,751.92	20,094	20,957.52	19,703.36	19,980.92	19,343.56	20,340.72	20,525.76	19,639.11	19,639.11	19,639.11	19,639.11	20,817.4566	20,817.4566	19,176.6709	19,176.6709	19,176.6709	19,176.6709	19,176.6709	19,176.6709	19,176.6709	19,176.6709	19,176.6709	19,176.6709	240,254.2	233,401.6226
VLM: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	7,674.485	19,669.26	21,503.755	29,482.18	19,770.0564	7,908.0226	0	0	0	0	0	0	0	0	0	0	0	0	0	0	106,007.759	0
SRV: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	17,812.935	17,054.065	17,248.91	17,628.345	17,084.83	16,777.18	16,418.255	17,894.975	15,798.4684	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	153,717.9634	0
CAR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	14,480.57	5,601.18	10,582	10,065	10,989	9,504	7,095	9,966	11,880	12,331.1392	11,428.8608	9,173.1646	12,114.5924	11,636.3848	12,592.8	11,955.1899	11,955.1899	10,998.7747	8,926.5418	10,839.3722	12,592.8	13,071.0076	12,114.5924	9,723.5544	123,095.9146	138,520.8
TAM: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	13,811.2	12,916.84	13,451.4	13,893.44	13,348.6	13,646.72	13,009.36	13,677.56	13,177.695	13,177.695	13,177.695	13,177.695	13,435.2989	13,435.2989	13,435.2989	13,435.2989	13,435.2989	13,435.2989	13,435.2989	13,435.2989	13,435.2989	13,435.2989	13,435.2989	13,435.2989	160,465.9	161,223.5864
OTH: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	12,749	12,067	14,707	15,950	12,474	13,343	10,538	10,890	15,840	16,441.519	15,238.481	12,230.8861	16,152.7899	15,515.1797	16,790.4	15,940.2532	15,940.2532	14,665.0329	11,902.0557	14,452.4962	16,790.4	17,428.0101	16,152.7899	12,964.7392	162,468.8861	184,694.4
FER: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	7,447.7361	18,619.3403	35,524.4821	35,524.4821	29,603.5319	17,761.6315	9,867.0312	9,867.0312	9,867.0312	9,867.0312	9,867.0312	9,867.0312	9,867.0312	9,867.0312	26,067.0764	197,350.3772
BRK: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	7,659.6567	19,753.8515	27,010.3683	29,429.2073	39,337.2885	32,080.7717	19,986.5769	12,326.9202	12,326.9202	12,326.9202	12,326.9202	0	224,565.4017
AUR: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,008.0278	17,122.7236	20,128.7445	20,128.7445	17,122.7236	11,110.6819	7,102.654	7,102.654	7,102.654	7,102.654	0	118,032.2619
NEW: standard value of hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	hours x rate card of the work type	0	0	0	0	0	0	0	0	0	0	0	0	26,146.9161	62,350.3384	74,418.1459	88,497.2546	88,497.2546	74,418.1459	88,497.2546	88,497.2546	74,418.1459	88,497.2546	88,497.2546	74,418.1459	0	917,153.3654
HAL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	84.8	66.4	78.5	56.3	53.1	60.1	59.4	64.7	32.7063	32.7063	32.7063	32.7063	32.7063	32.7063	40.7063	40.7063	40.7063	40.7063	40.7063	40.7063	40.7063	40.7063	40.7063	40.7063	654.125	472.475
THV: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	17.3	19.6	11.4	17	11.6	20.9	19.6	25.1	8.9062	8.9062	8.9062	8.9062	8.9062	8.9062	8.9062	8.4609	8.4609	8.4609	8.4609	8.4609	8.4609	8.4609	8.4609	8.4609	178.125	102.8672
PEL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	13.2	6.2	8.3	4.6167	4.6167	4.6167	4.6167	4.6167	4.6167	4.6167	4.6167	4.6167	4.155	4.155	4.155	4.155	4.155	4.155	4.155	46.1667	52.1683
ASH: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
TWL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
RVM: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	19.5	24	15.8	24.7	17.3	5.5	26.4	9.9	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.9437	8.4966	8.4966	8.4966	8.4966	8.4966	8.4966	178.875	104.6419
MAR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
QFS: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	36.1	40.8	29.2	25.5	20.1	15.17	15.17	15.17	15.17	15.17	15.17	15.17	14.4115	14.4115	14.4115	14.4115	14.4115	14.4115	14.4115	14.4115	14.4115	212.38	175.2135
HOC: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0.2	3.3	7.8	12.6	15.5	-0.3	9.2	7.6	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.4938	3.3191	3.3191	3.3191	3.3191	3.3191	3.3191	69.875	40.8769
NOR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
VOL: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	55.6	50.6	61	41.6	48.5	43.5	55.4	44.3	25.0312	25.0312	25.0312	25.0312	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	22.5281	500.625	270.3375
LIN: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	13.1	7.8	1.2	-1.1	12	13.5	15.7	3.5	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	4.1062	3.9009	3.9009	3.9009	82.125	48.6591
VDH: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	16.4	10	18.4	6.2	8.9	2.7	12.4	14.2	5.575	5.575	5.575	5.575	5.575	5.575	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	5.0175	111.5	61.325
VLM: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
SRV: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	33.7	26.3	28.2	31.9	26.6	23.6	20.1	34.5	14.0563	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	238.9563	0
CAR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
TAM: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	9	0.3	5.5	9.8	4.5	7.4	1.2	7.7	2.8375	2.8375	2.8375	2.8375	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	2.6956	56.75	32.3475
OTH: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
FER: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	6.24	0	74.88
BRK: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8.4	8.4	8.4	8.4	8.4	8.4	8.4	0	58.8
AUR: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4.84	4.84	4.84	4.84	4.84	4.84	4.84	4.84	4.84	0	43.56
NEW: retainer overservice hours	STANDARD VALUE OF HOURS AT THE RATE CARD, BY CLIENT (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

FOREIGN EXCHANGE: RATES, EUR TRANSLATION AND REVALUATION OF CLIENT BALANCES
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
GBP per EUR, monthly average	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	0.8694	0.8712	0.8723	0.8673	0.8667	0.8645	0.8588	0.8561	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8541	0.8308
GBP per EUR, month end	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	0.8662	0.8763	0.8683	0.8662	0.8672	0.8618	0.8557	0.8565	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308	0.8308
USD per EUR, monthly average	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	1.1834	1.1862	1.1651	1.16	1.1673	1.1519	1.144	1.1541	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1509	1.1248
USD per EUR, month end	RATES (units per EUR)	A: ECB; F: last actual month-end x (1 + shift)	1.1919	1.1805	1.1498	1.1702	1.1644	1.1394	1.1485	1.1596	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248	1.1248
Retainer fees	EUR CLIENTS (EUR)	invoice currency / average rate	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	71,000	57,500	57,500	57,500	56,712	56,712	56,068	62,118	62,118	62,118	62,118	62,118	62,118	62,230	62,230	62,230	811,500	728,890
Project fees	EUR CLIENTS (EUR)	invoice currency / average rate	10,258.69	4,833.42	0	0	7,070	18,120	19,810	24,973.33	18,865.2115	15,911.4585	19,250	19,250	33,710	59,520	74,706.6667	93,646.6667	96,396.6667	82,956.6667	93,646.6667	88,146.6667	71,040	84,480	84,480	71,040	158,342.11	933,770
Time and materials	EUR CLIENTS (EUR)	invoice currency / average rate	9,664.16	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	13,610.68	16,047.13	21,967.2677	22,801.4678	21,133.0677	16,962.0675	22,401.0518	21,516.7997	23,285.3038	22,106.3011	22,106.3011	20,337.797	16,506.0381	20,043.0463	23,285.3038	24,169.5558	22,401.0518	17,979.7915	206,392.4607	256,138.3417
Media management fees	EUR CLIENTS (EUR)	invoice currency / average rate	8,432.55	8,604.35	9,067.88	9,810.39	9,380.12	9,591.18	8,429.97	8,627.11	10,604	11,664.4	14,315.4	12,724.8	8,889.98	8,889.98	9,622.36	10,128.8	10,128.8	9,622.36	8,609.48	9,115.92	10,128.8	10,899.68	13,376.88	11,890.56	121,252.15	121,303.6
Production recharged	EUR CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Revenue	EUR CLIENTS (EUR)		99,355.4	93,238.01	98,915.28	100,556.9	106,052.2	116,921.57	112,850.65	120,647.57	122,436.4792	107,877.3263	112,198.4677	106,436.8675	121,713.0318	146,638.7797	163,682.3305	187,999.7677	190,749.7677	175,034.8237	180,880.1848	179,423.633	166,572.1038	181,779.2358	182,487.9318	163,140.3515	1,297,486.7207	2,040,101.9417
Media spend rebilled	EUR CLIENTS (EUR)		80,762.71	82,149.17	86,658.27	93,830.35	89,680.99	91,637.13	80,253.56	81,888.66	101,200	111,320	136,620	121,440	84,991.5	84,991.5	91,855.5	96,690	96,690	91,855.5	82,186.5	87,021	96,690	103,939	127,561.5	113,388	1,157,440.84	1,157,860
VAT on invoices	EUR CLIENTS (EUR)		8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	10,520.7936	12,140.4781	13,873.9974	12,683.6948	9,609.2214	10,308.6826	10,812.9377	11,349.3554	11,197.734	10,888.7484	10,043.345	9,859.561	10,932.3965	11,967.3266	13,625.9707	12,471.5818	128,217.4767	133,066.8611
Cash received	EUR CLIENTS (EUR)		186,307.37	218,587.83	184,863.9	161,420.07	226,869.25	228,033.51	182,256.77	230,382.82	197,196.3393	192,783.5595	296,858.0993	226,052.6307	223,963.9567	299,169.3965	168,810.2239	285,968.7131	307,310.3334	257,389.4081	294,296.3668	287,297.8901	257,956.7505	282,333.1927	320,998.2897	293,905.9369	2,531,612.1489	3,279,400.4584
Written off	EUR CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivables at the month-end rate	EUR CLIENTS (EUR)		180,833.5988	149,576.8344	133,915.0084	208,320.0968	194,481.1148	151,415.8996	189,035.7464	166,073.4028	162,248.9871	261,657.5734	193,910.3393	199,739.2711	273,740.0832	141,873.9011	257,789.2745	279,392.0207	230,322.5223	269,324.0237	262,322.779	230,495.4079	252,450.9002	286,663.0179	262,516.6347	270,879.8914	199,739.2711	270,879.8914
Contract assets at the month-end rate	EUR CLIENTS (EUR)		27,030.74	8,800.24	18,847.4	19,746.51	18,602.08	18,210.39	29,810.68	18,820.46	43,605.8092	22,801.4678	32,333.0677	25,012.0675	22,401.0518	33,996.7997	23,285.3038	22,106.3011	44,486.3011	22,354.4637	27,689.3715	32,523.0463	23,285.3038	24,169.5558	34,881.0518	17,979.7915	25,012.0675	17,979.7915
Contract liabilities at the month-end rate	EUR CLIENTS (EUR)		32,000	16,000	0	32,000	37,730	3,610	32,000	16,000	0	40,050	16,000	0	79,040	16,000	23,663.3333	34,016.6667	16,000	12,480	32,000	16,000	12,480	32,224	16,112	12,480	0	12,480
Net client position (receivables + contract assets - contract liabilities)	EUR CLIENTS (EUR)		175,864.3388	142,377.0744	152,762.4084	196,066.6068	175,353.1948	166,016.2896	186,846.4264	168,893.8628	205,854.7963	244,409.0412	210,243.407	224,751.3385	217,101.135	159,870.7008	257,411.245	267,481.6551	258,808.8234	279,198.4874	258,012.1504	247,018.4543	263,256.204	278,608.5738	281,285.6865	276,379.6829	224,751.3385	276,379.6829
FX GAIN / (LOSS) ON REVALUATION	EUR CLIENTS (EUR)	closing - opening - flows at average rates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retainer fees	GBP CLIENTS (EUR)	invoice currency / average rate	86,266.3906	86,083.2138	85,978.6085	86,476.2651	86,531.1397	100,057.8369	100,727.802	101,038.418	104,118.3189	104,118.3189	104,118.3189	104,118.3189	107,151.5924	107,151.5924	118,706.9203	118,833.3067	118,833.3067	130,233.3598	130,385.0235	130,385.0235	130,385.0235	130,385.0235	130,385.0235	130,385.0235	1,149,632.95	1,483,220.2195
Project fees	GBP CLIENTS (EUR)	invoice currency / average rate	55,136.991	37,598.1291	34,845.1926	30,839.6499	33,793.2944	42,692.8861	55,726.7889	59,057.6328	58,383.1408	37,264.7099	15,387.7642	0	0	8,801.2519	22,697.9655	31,035.9936	33,815.3363	31,035.9936	22,697.9655	8,801.2519	0	0	0	0	460,726.1799	158,885.7583
Time and materials	GBP CLIENTS (EUR)	invoice currency / average rate	23,639.441	20,794.9842	21,308.262	17,149.4425	18,843.9324	20,506.6975	15,909.147	22,918.3166	26,142.8051	34,552.4448	32,024.2172	25,703.648	33,945.6702	32,605.7095	35,285.6309	33,499.0166	33,499.0166	30,819.0953	25,012.5991	30,372.4418	35,285.6309	36,625.5915	33,945.6702	27,245.8669	279,493.3384	388,141.9395
Media management fees	GBP CLIENTS (EUR)	invoice currency / average rate	5,952.1049	5,479.4376	6,115.1082	7,156.9948	6,489.0048	5,696.7843	5,588.2271	7,010.2206	7,282.2639	8,010.4903	9,831.0563	8,738.7167	6,189.9243	6,189.9243	6,918.1507	6,918.1507	6,918.1507	6,572.2432	5,880.4281	6,226.3357	6,918.1507	7,609.9658	9,339.5035	8,301.7809	83,350.4094	83,982.7087
Production recharged	GBP CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	4,830	6,440	2,325.5556	1,788.8889	715.5556	0	0	0	0	0	0	0	0	0	0	0	0	0	16,100	0
Revenue	GBP CLIENTS (EUR)		170,994.9275	149,955.7647	148,247.1713	141,622.3524	145,657.3713	168,954.2047	182,781.9651	196,464.588	198,252.0843	185,734.8528	162,076.9121	138,560.6835	147,287.1869	154,748.4782	183,608.6673	190,286.4677	193,065.8104	198,660.6919	183,976.0162	175,785.0528	172,588.8051	174,620.5808	173,670.1972	165,932.6713	1,989,302.8777	2,114,230.6259
Media spend rebilled	GBP CLIENTS (EUR)		59,521.072	54,794.33	61,151.0931	71,569.9708	64,890.0016	56,967.8311	55,882.2707	70,102.2415	72,822.6392	80,104.9031	98,310.5629	87,387.167	61,899.2433	61,899.2433	69,181.5072	69,181.5072	69,181.5072	65,722.4319	58,804.2812	62,263.3565	69,181.5072	76,099.658	93,395.0348	83,017.8087	833,504.0832	839,827.0866
VAT on invoices	GBP CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash received	GBP CLIENTS (EUR)		172,463.17	302,527.7704	158,536.4377	226,595.7984	265,649.122	171,088.074	261,480.4541	240,778.9536	188,817.7057	301,951.1429	261,833.7184	274,776.3798	220,321.6247	239,031.1739	211,727.6811	231,790.2291	265,529.4373	242,729.1005	243,604.2171	263,304.3311	231,818.642	240,403.7395	283,814.1777	251,037.4018	2,826,498.7271	2,925,111.7558
Written off	GBP CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Receivables at the month-end rate	GBP CLIENTS (EUR)		324,748.4646	172,070.5809	254,842.2144	291,635.6595	183,482.1789	264,594.1656	257,253.1201	199,301.8178	329,006.2178	283,330.8808	301,885.5646	241,322.4048	258,055.5878	257,821.3718	255,450.7786	290,242.3175	298,517.5786	273,633.9434	292,281.7269	282,348.8518	269,205.7468	314,545.4578	282,294.8472	268,726.1425	241,322.4048	268,726.1425
Contract assets at the month-end rate	GBP CLIENTS (EUR)		29,440.8104	62,324.4323	56,603.4687	17,170.0317	36,049.0181	20,571.4219	38,027.1581	81,232.2646	29,050.0402	70,080.3441	32,024.2172	25,703.648	33,945.6702	32,605.7095	35,285.6309	48,368.5001	33,499.0166	46,985.6054	63,877.0747	30,372.4418	35,285.6309	36,625.5915	33,945.6702	27,245.8669	25,703.648	27,245.8669
Contract liabilities at the month-end rate	GBP CLIENTS (EUR)		36,030.4779	17,117.4255	41,078.8525	51,209.2352	17,296.4496	26,644.8514	57,828.5441	17,513.5438	4,644.0458	36,110.3996	18,055.1998	0	36,110.3996	56,919.6754	16,166.5101	36,363.1724	33,051.0697	0	36,363.1724	18,181.5862	0	36,363.1724	18,181.5862	0	0	0
Net client position (receivables + contract assets - contract liabilities)	GBP CLIENTS (EUR)		318,158.797	217,277.5876	270,366.8306	257,596.456	202,234.7474	258,520.7362	237,451.7342	263,020.5386	353,412.2123	317,300.8253	315,854.5819	267,026.0527	255,890.8584	233,507.4059	274,569.8994	302,247.6452	298,965.5255	320,619.5488	319,795.6291	294,539.7074	304,491.3777	314,807.877	298,058.9312	295,972.0094	267,026.0527	295,972.0094
FX GAIN / (LOSS) ON REVALUATION	GBP CLIENTS (EUR)	closing - opening - flows at average rates	2,120.6134	-3,103.5337	2,227.4164	633.1006	-259.9595	1,452.0269	1,747.2164	-219.0714	8,134.6558	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	12,732.4648	0
Retainer fees	USD CLIENTS (EUR)	invoice currency / average rate	9,294.8583	9,273.3097	9,440.8445	31,896.5517	31,697.0787	32,120.8438	32,344.071	32,061.0026	32,894.3859	32,894.3859	32,894.3859	32,894.3859	40,895.723	40,895.723	40,895.723	41,057.5278	41,057.5278	41,057.5278	41,125.9837	41,125.9837	41,125.9837	41,125.9837	41,125.9837	41,125.9837	319,706.1039	492,615.6549
Project fees	USD CLIENTS (EUR)	invoice currency / average rate	0	5,757.5198	17,952.8988	24,660.0431	31,771.5412	31,626.8947	26,681.4634	26,498.6872	40,035.4524	44,890.6952	43,521.6762	33,791.6552	22,258.8637	22,258.8637	17,122.2029	6,848.8811	0	0	0	0	0	0	0	0	327,188.5272	68,488.8115
Time and materials	USD CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Media management fees	USD CLIENTS (EUR)	invoice currency / average rate	5,145.7518	5,251.2393	6,412.5134	6,804.0517	7,230.3093	6,730.9141	7,076.3757	7,039.461	7,921.3237	8,713.4561	10,693.7871	9,505.5885	6,733.1252	6,733.1252	7,525.2576	7,921.3237	7,921.3237	7,525.2576	6,396.4689	6,772.7318	7,525.2576	8,277.7833	10,159.0977	9,030.3091	88,524.7718	92,521.0613
Production recharged	USD CLIENTS (EUR)	invoice currency / average rate	0	0	0	0	0	0	0	0	5,250	11,550	11,550	5,250	0	0	0	0	0	0	0	0	0	0	0	0	33,600	0
Revenue	USD CLIENTS (EUR)		14,440.6101	20,282.0688	33,806.2567	63,360.6466	70,698.9292	70,478.6527	66,101.91	65,599.1508	86,101.1621	98,048.5373	98,659.8492	81,441.6296	69,887.7119	69,887.7119	65,543.1834	55,827.7327	48,978.8516	48,582.7854	47,522.4526	47,898.7155	48,651.2413	49,403.767	51,285.0814	50,156.2928	769,019.4029	653,625.5277
Media spend rebilled	USD CLIENTS (EUR)		57,175.0222	58,347.0747	71,250.1395	75,600.569	80,336.8029	74,787.8896	78,626.4347	78,216.2298	88,014.7082	96,816.1791	118,819.8561	105,617.6499	74,812.502	74,812.502	83,613.9728	88,014.7082	88,014.7082	83,613.9728	71,071.8769	75,252.5755	83,613.9728	91,975.3701	112,878.8633	100,336.7674	983,608.5556	1,028,011.7922
VAT on invoices	USD CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash received	USD CLIENTS (EUR)		91,337.7244	122,374.6839	99,282.2383	108,132.819	105,239.8441	85,004.1063	174,841.9074	130,935.67	125,670.5654	155,863.3456	188,572.331	215,384.952	222,016.5866	170,645.9671	140,933.3293	140,933.3293	145,984.8401	150,862.5441	136,993.5598	132,196.7582	118,594.3295	123,151.2911	132,265.2141	141,379.1371	1,602,640.1874	1,755,956.8864
Written off	USD CLIENTS (EUR)		0	0	0	0	0	0	0	0	0	2,933.8236	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,933.8236	0
Receivables at the month-end rate	USD CLIENTS (EUR)		193,247.8731	198,739.1868	191,704.2529	194,476.8757	223,675.2491	316,774.39	257,694.4449	241,673.9307	299,831.9657	351,418.9128	407,216.3774	377,104.3982	277,529.1618	266,308.5031	257,410.1272	281,208.3264	272,217.046	253,551.2601	235,152.0299	226,106.5627	239,777.4473	258,005.2933	289,904.024	299,017.947	377,104.3982	299,017.947
Contract assets at the month-end rate	USD CLIENTS (EUR)		0	0	0	0	11,971.7966	0	11,661.5063	37,921.7403	52,192.195	21,336.899	15,335.8961	0	18,491.9791	3,766.8846	20,889.0875	0	0	0	0	0	0	0	0	0	0	0
Contract liabilities at the month-end rate	USD CLIENTS (EUR)		0	47,581.8975	30,659.7756	5,680.1914	0	15,033.3684	0	0	15,335.8961	0	20,889.0875	3,766.8846	0	0	0	0	0	0	0	0	0	0	0	0	3,766.8846	0
Net client position (receivables + contract assets - contract liabilities)	USD CLIENTS (EUR)		193,247.8731	151,157.2893	161,044.4773	188,796.6843	235,647.0457	301,741.0216	269,355.9512	279,595.6709	336,688.2646	372,755.8117	401,663.186	373,337.5135	296,021.1409	270,075.3877	278,299.2147	281,208.3264	272,217.046	253,551.2601	235,152.0299	226,106.5627	239,777.4473	258,005.2933	289,904.024	299,017.947	373,337.5135	299,017.947
FX GAIN / (LOSS) ON REVALUATION	USD CLIENTS (EUR)	closing - opening - flows at average rates	-2,921.3113	1,654.9565	4,113.0302	-3,076.1895	1,054.4734	5,831.5399	-2,271.5077	-2,639.9909	8,647.2888	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,392.2894	0
Retainer fees	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	208,012.7048	194,512.7048	194,512.7048	194,512.7048	204,759.3154	204,759.3154	215,670.6433	222,008.8345	222,008.8345	233,408.8877	233,629.0072	233,629.0072	233,629.0072	233,741.0072	233,741.0072	233,741.0072	2,280,839.054	2,704,725.8744
Project fees	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	117,283.8047	98,066.8637	78,159.4405	53,041.6552	55,968.8637	90,580.1157	114,526.835	131,531.5414	130,212.003	113,992.6603	116,344.6321	96,947.9186	71,040	84,480	84,480	71,040	946,256.8171	1,161,144.5697
Time and materials	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	33,303.601	29,595.2242	40,155.662	36,895.9525	37,446.0124	38,717.0875	29,519.827	38,965.4466	48,110.0729	57,353.9126	53,157.2849	42,665.7155	56,346.7219	54,122.5092	58,570.9347	55,605.3177	55,605.3177	51,156.8923	41,518.6372	50,415.4881	58,570.9347	60,795.1474	56,346.7219	45,225.6584	485,885.799	644,280.2812
Media management fees	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	19,530.4067	19,335.0268	21,595.5016	23,771.4365	23,099.434	22,018.8784	21,094.5728	22,676.7917	25,807.5877	28,388.3464	34,840.2433	30,969.1052	21,813.0295	21,813.0295	24,065.7683	24,968.2745	24,968.2745	23,719.8607	20,886.377	22,114.9875	24,572.2083	26,787.4291	32,875.4812	29,222.6499	293,127.3312	297,807.37
Production recharged	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	0	0	0	0	0	0	4,830	6,440	7,575.5556	13,338.8889	12,265.5556	5,250	0	0	0	0	0	0	0	0	0	0	0	0	49,700	0
REVENUE	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	361,734.5251	382,711.3088	406,789.7256	391,660.7163	372,935.229	326,439.1806	338,887.9306	371,274.9698	412,834.1813	434,113.9681	432,794.4297	422,278.301	412,378.6536	403,107.4013	387,812.1502	405,803.5837	407,443.2104	379,229.3156	4,055,809.0013	4,807,958.0953
Media spend rebilled	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	197,458.8042	195,290.5747	219,059.5025	241,000.8898	234,907.7945	223,392.8507	214,762.2655	230,207.1313	262,037.3474	288,241.0822	353,750.419	314,444.8169	221,703.2453	221,703.2453	244,650.9801	253,886.2155	253,886.2155	241,191.9047	212,062.6581	224,536.9321	249,485.4801	272,014.0281	333,835.3981	296,742.5761	2,974,553.4787	3,025,698.8787
VAT on invoices	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	10,520.7936	12,140.4781	13,873.9974	12,683.6948	9,609.2214	10,308.6826	10,812.9377	11,349.3554	11,197.734	10,888.7484	10,043.345	9,859.561	10,932.3965	11,967.3266	13,625.9707	12,471.5818	128,217.4767	133,066.8611
Cash received	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	450,108.2645	643,490.2843	442,682.5761	496,148.6874	597,758.2161	484,125.6903	618,579.1316	602,097.4437	511,684.6104	650,598.0479	747,264.1487	716,213.9625	666,302.168	708,846.5375	521,471.2343	658,692.2715	718,824.6108	650,981.0527	674,894.1437	682,798.9795	608,369.7221	645,888.2233	737,077.6815	686,322.4758	6,960,751.0634	7,960,469.1006
Written off	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	0	0	0	0	0	0	0	0	0	2,933.8236	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,933.8236	0
Receivables	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	732,784.4552	703,983.3115	607,049.1513	791,087.1706	896,407.3671	903,012.2813	818,166.074	809,324.8327	666,003.7759	770,650.1804	850,842.6645	801,057.147	796,509.2273	789,756.5357	738,950.8224	761,434.0943	859,213.7691	834,715.5059	838,623.9809	818,166.074	838,623.9809
Contract assets	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	56,471.5504	71,124.6723	75,450.8687	36,916.5417	66,622.8948	38,781.8119	79,499.3444	137,974.4649	124,848.0445	114,218.7108	79,693.181	50,715.7155	74,838.7011	70,369.3939	79,460.0222	70,474.8012	77,985.3177	69,340.0691	91,566.4461	62,895.4881	58,570.9347	60,795.1474	68,826.7219	45,225.6584	50,715.7155	45,225.6584
Contract liabilities	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	68,030.4779	80,699.323	71,738.6281	88,889.4266	55,026.4496	45,288.2198	89,828.5441	33,513.5438	19,979.9419	76,160.3996	54,944.2873	3,766.8846	115,150.3996	72,919.6754	39,829.8434	70,379.8391	49,051.0697	12,480	68,363.1724	34,181.5862	12,480	68,587.1724	34,293.5862	12,480	3,766.8846	12,480
FX GAIN / (LOSS)	TOTALS, ALL CURRENCIES (EUR)	EUR + GBP + USD	-800.6979	-1,448.5772	6,340.4465	-2,443.0889	794.5139	7,283.5668	-524.2913	-2,859.0624	16,781.9446	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	23,124.7543	0
Gross billings ex VAT (fees, media and recharges)	TOTALS, ALL CURRENCIES (EUR)	revenue + media spend rebilled	482,249.7418	458,766.4182	500,028.2106	546,540.7887	557,316.2949	579,747.2781	576,496.7906	612,918.4401	668,827.073	679,901.7985	726,685.648	640,883.9975	560,591.176	592,978.2152	657,485.1613	688,000.1836	686,680.6452	663,470.2057	624,441.3117	627,644.3334	637,297.6302	677,817.6118	741,278.6085	675,971.8917	7,030,362.4801	7,833,656.9741
Share of revenue invoiced in GBP	EXPOSURE (memo)		60.04%	56.91%	52.76%	46.35%	45.18%	47.41%	50.53%	51.33%	48.74%	47.42%	43.46%	42.45%	43.46%	41.68%	44.48%	43.83%	44.61%	47.04%	44.61%	43.61%	44.5%	43.03%	42.62%	43.76%	49.05%	43.97%
Share of revenue invoiced in USD	EXPOSURE (memo)		5.07%	7.7%	12.03%	20.74%	21.93%	19.78%	18.27%	17.14%	21.17%	25.03%	26.45%	24.95%	20.62%	18.82%	15.88%	12.86%	11.32%	11.5%	11.52%	11.88%	12.55%	12.17%	12.59%	13.23%	18.96%	13.59%
EUR impact of a 5% weaker pound and dollar on the month-end GBP and USD positions	EXPOSURE (memo)	position x (1/1.05 - 1)	-24,352.6986	-17,544.5179	-20,543.3956	-21,256.8162	-20,851.514	-26,679.1313	-24,133.6993	-25,838.8671	-32,861.9275	-32,859.8399	-34,167.5128	-30,493.5032	-26,281.5238	-23,980.133	-26,327.1007	-27,783.6177	-27,199.1701	-27,341.4671	-26,426.079	-24,792.6795	-25,917.5631	-27,276.8176	-27,998.236	-28,332.8551	-30,493.5032	-28,332.8551

PEOPLE: PAYROLL, STAFF TABLE, BONUS PROVISION AND PAYROLL TAXES (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Redundancy compensation (one month average wage per leaver)	DELIVERY PAYROLL	capacity cut x average salary at the last actual month x pay inflation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Delivery team gross pay (incl. any redundancy compensation)	DELIVERY PAYROLL	A: payroll; F: headcount x salary x pay inflation + redundancy	133,124	132,557	134,790	139,333	132,804	132,502	136,778	137,521	135,700	140,600	144,300	144,300	153,865.8	153,865.8	156,107.325	156,107.325	156,107.325	156,107.325	156,107.325	156,107.325	156,107.325	156,107.325	156,107.325	156,107.325	1,644,309	1,868,804.85
Employer social tax and unemployment insurance	DELIVERY PAYROLL	gross x (33% + 0.8%)	44,995.912	44,804.266	45,559.02	47,094.554	44,887.752	44,785.676	46,230.964	46,482.098	45,866.6	47,522.8	48,773.4	48,773.4	52,006.6404	52,006.6404	52,764.2758	52,764.2758	52,764.2758	52,764.2758	52,764.2758	52,764.2758	52,764.2758	52,764.2758	52,764.2758	52,764.2758	555,776.442	631,656.0393
DELIVERY PAYROLL COST	DELIVERY PAYROLL		178,119.912	177,361.266	180,349.02	186,427.554	177,691.752	177,287.676	183,008.964	184,003.098	181,566.6	188,122.8	193,073.4	193,073.4	205,872.4404	205,872.4404	208,871.6008	208,871.6008	208,871.6008	208,871.6008	208,871.6008	208,871.6008	208,871.6008	208,871.6008	208,871.6008	208,871.6008	2,200,085.442	2,500,460.8893
Founder and chief executive (executive creative director)	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	7,800	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	8,151	7,800	2016-04-30
Operations and finance manager	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	4,900	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	5,120.5	4,900	2019-02-28
New business director	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,400	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,643	5,400	2021-09-30
People and office manager	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,135	3,000	2020-08-31
Marketing and communications lead	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,300	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,448.5	3,300	2023-03-31
Planned hire: head of delivery	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	gross x pay inflation x active flag	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5,852	5,852	5,852	5,852	5,852	5,852	5,852	5,852	5,852	5,600	2027-04-30
Gross pay per staff table	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	sum of roles	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	24,400	25,498	25,498	25,498	31,350	31,350	31,350	31,350	31,350	31,350	31,350	31,350	31,350	292,800	358,644
Leadership, new business and operations gross pay	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	A: payroll; F: staff table	24,576	24,425	24,105	24,554	24,215	24,402	24,337	24,453	24,400	24,400	24,400	24,400	25,498	25,498	25,498	31,350	31,350	31,350	31,350	31,350	31,350	31,350	31,350	31,350	292,667	358,644
Employer social tax and unemployment insurance	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)		8,306.688	8,255.65	8,147.49	8,299.252	8,184.67	8,247.876	8,225.906	8,265.114	8,247.2	8,247.2	8,247.2	8,247.2	8,618.324	8,618.324	8,618.324	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	10,596.3	98,921.446	121,221.672
LEADERSHIP, NEW BUSINESS AND OPERATIONS PAYROLL COST	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)		32,882.688	32,680.65	32,252.49	32,853.252	32,399.67	32,649.876	32,562.906	32,718.114	32,647.2	32,647.2	32,647.2	32,647.2	34,116.324	34,116.324	34,116.324	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	41,946.3	391,588.446	479,865.672
Leadership, new business and operations headcount	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)	A: payroll; F: active roles in the staff table	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5	6	6	6	6	6	6	6	6	6	5	6
Leadership hires in the month	LEADERSHIP, NEW BUSINESS AND OPERATIONS (C = monthly gross, D = start month; planned hire only if the scenario allows)		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	0	0	0	0	0	0	0	0	1
Delivery headcount	HEADCOUNT	Utilisation	33	33	33	34	32	32	33	33	33	34	35	35	35.6	35.6	36.15	36.15	36.15	36.15	36.15	36.15	36.15	36.15	36.15	36.15	35	36.15
TOTAL HEADCOUNT	HEADCOUNT		38	38	38	39	37	37	38	38	38	39	40	40	40.6	40.6	41.15	42.15	42.15	42.15	42.15	42.15	42.15	42.15	42.15	42.15	40	42.15
Accrual rate (share of gross pay)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	A: actual rate; F: scenario	5%	5%	5%	5%	5%	5%	5%	5%	6%	6%	6%	6%	6%	6%	6%	6%	6%	6%	6%	6%	6%	6%	6%	6%	5.33%	6%
Bonus accrued (P&L)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	gross pay x rate x (1 + employer taxes)	10,550.13	10,502.0958	10,630.0755	10,964.0403	10,504.5711	10,496.8776	10,778.5935	10,836.0606	12,852.828	13,246.2	13,543.236	13,543.236	14,399.3259	14,399.3259	14,579.2755	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	15,049.0741	138,447.9444	178,819.5937
Prior-year bonus paid (provision utilised)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	A: payroll; F: March, provision at the prior December	0	0	131,500	0	0	0	0	0	0	0	0	0	0	0	138,447.9444	0	0	0	0	0	0	0	0	0	131,500	138,447.9444
BONUS PROVISION (to balance sheet)	BONUS PROVISION (accrued with employer taxes; paid in March for the prior year)	opening + accrued - utilised	142,050.13	152,552.2258	31,682.3013	42,646.3416	53,150.9127	63,647.7903	74,426.3838	85,262.4444	98,115.2724	111,361.4724	124,904.7084	138,447.9444	152,847.2703	167,246.5961	43,377.9272	58,427.0013	73,476.0753	88,525.1494	103,574.2234	118,623.2975	133,672.3715	148,721.4456	163,770.5196	178,819.5937	138,447.9444	178,819.5937
Gross pay, all staff (excl. bonus)	PAYROLL TAXES (TSD), NET PAY		157,700	156,982	158,895	163,887	157,019	156,904	161,115	161,974	160,100	165,000	168,700	168,700	179,363.8	179,363.8	181,605.325	187,457.325	187,457.325	187,457.325	187,457.325	187,457.325	187,457.325	187,457.325	187,457.325	187,457.325	1,936,976	2,227,448.85
Withheld: unemployment insurance, pension and income tax	PAYROLL TAXES (TSD), NET PAY	gross x 3.6% + income tax on (gross - 3.6% - EUR 700 x heads)	33,270.216	33,092.0946	33,566.6716	34,651.087	33,255.2735	33,226.7443	34,117.4092	34,330.5099	33,865.608	34,927.2	35,691.096	35,691.096	38,244.1715	38,244.1715	38,715.549	40,013.3132	40,013.3132	40,013.3132	40,013.3132	40,013.3132	40,013.3132	40,013.3132	40,013.3132	40,013.3132	409,685.0061	475,323.7107
Employer social tax and unemployment insurance	PAYROLL TAXES (TSD), NET PAY		53,302.6	53,059.916	53,706.51	55,393.806	53,072.422	53,033.552	54,456.87	54,747.212	54,113.8	55,770	57,020.6	57,020.6	60,624.9644	60,624.9644	61,382.5998	63,360.5759	63,360.5759	63,360.5759	63,360.5759	63,360.5759	63,360.5759	63,360.5759	63,360.5759	63,360.5759	654,697.888	752,877.7113
Bonus paid: gross	PAYROLL TAXES (TSD), NET PAY	utilised / (1 + employer taxes)	0	0	98,281.0164	0	0	0	0	0	0	0	0	0	0	0	103,473.8	0	0	0	0	0	0	0	0	0	98,281.0164	103,473.8
Bonus paid: withheld taxes	PAYROLL TAXES (TSD), NET PAY	gross x (3.6% + 22% x 96.4%)	0	0	24,381.5546	0	0	0	0	0	0	0	0	0	0	0	25,669.7803	0	0	0	0	0	0	0	0	0	24,381.5546	25,669.7803
Bonus paid: employer taxes	PAYROLL TAXES (TSD), NET PAY	utilised - gross	0	0	33,218.9836	0	0	0	0	0	0	0	0	0	0	0	34,974.1444	0	0	0	0	0	0	0	0	0	33,218.9836	34,974.1444
TSD taxes: opening	PAYROLL TAXES (TSD), NET PAY		86,983.07	86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	90,697.2	92,711.696	92,711.696	98,869.1359	98,869.1359	160,742.0736	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889
TSD taxes: accrued	PAYROLL TAXES (TSD), NET PAY	withheld + employer taxes, salaries and bonus	86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	90,697.2	92,711.696	92,711.696	98,869.1359	98,869.1359	160,742.0736	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	1,121,983.4322	1,288,845.3467
TSD taxes: paid (prior month, by the 10th)	PAYROLL TAXES (TSD), NET PAY		-86,983.07	-86,572.816	-86,152.0106	-144,873.7197	-90,044.893	-86,327.6955	-86,260.2963	-88,574.2792	-89,077.7219	-87,979.408	-90,697.2	-92,711.696	-92,711.696	-98,869.1359	-98,869.1359	-160,742.0736	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-103,373.889	-1,116,254.8062	-1,278,183.1537
TSD TAXES PAYABLE (to balance sheet)	PAYROLL TAXES (TSD), NET PAY		86,572.816	86,152.0106	144,873.7197	90,044.893	86,327.6955	86,260.2963	88,574.2792	89,077.7219	87,979.408	90,697.2	92,711.696	92,711.696	98,869.1359	98,869.1359	160,742.0736	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	103,373.889	92,711.696	103,373.889
Net salaries paid (month end)	PAYROLL TAXES (TSD), NET PAY	gross - withheld	124,429.784	123,889.9054	125,328.3284	129,235.913	123,763.7265	123,677.2557	126,997.5908	127,643.4901	126,234.392	130,072.8	133,008.904	133,008.904	141,119.6285	141,119.6285	142,889.776	147,444.0118	147,444.0118	147,444.0118	147,444.0118	147,444.0118	147,444.0118	147,444.0118	147,444.0118	147,444.0118	1,527,290.9939	1,752,125.1393
Net bonus paid (March)	PAYROLL TAXES (TSD), NET PAY	bonus gross - withheld	0	0	73,899.4619	0	0	0	0	0	0	0	0	0	0	0	77,804.0197	0	0	0	0	0	0	0	0	0	73,899.4619	77,804.0197
Payroll cost (incl. bonus) and freelancers / net revenue	PEOPLE RATIOS		79.57%	85.95%	81.27%	77.49%	70.04%	69.02%	80%	68.95%	59.54%	63.06%	67.61%	76.07%	76.76%	70.07%	63.78%	62.95%	62.98%	65.05%	73.7%	67.63%	70.04%	66.93%	66.66%	71.85%	72.37%	67.97%
Net revenue per head, annualised	PEOPLE RATIOS	net revenue x 12 / headcount	89,933.9803	83,202.8979	88,726.9604	94,012.2766	104,564.9191	115,574.4089	112,905.6395	119,087.7817	126,341.0537	116,859.2802	108,600.152	96,525.5042	100,163.9204	109,736.4443	120,389.0687	123,591.1653	123,215.496	120,221.5804	117,403.1754	114,763.673	110,409.1531	115,531.2694	115,998.067	107,965.6414	104,694.5712	114,949.0545

NEW BUSINESS, RENEWALS AND REVENUE VISIBILITY (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Retainers in their current term	FEE REVENUE BY SECURITY (EUR)	Retainers	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	208,012.7048	194,512.7048	194,512.7048	194,512.7048	116,458.1453	116,458.1453	102,458.1453	61,287.9716	61,287.9716	47,445.6518	16,000	16,000	16,000	0	0	0	2,280,839.054	553,396.031
Retainers after renewal (renewal-weighted)	FEE REVENUE BY SECURITY (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	80,299.833	80,299.833	93,655.833	135,114.1979	135,114.1979	148,319.771	179,985.5424	179,985.5424	179,985.5424	196,097.5424	196,097.5424	196,097.5424	0	1,801,052.9202
Pipeline retainers (win-weighted)	FEE REVENUE BY SECURITY (EUR)	Retainers	0	0	0	0	0	0	0	0	0	0	0	0	8,001.3371	8,001.3371	19,556.665	25,606.665	25,606.665	37,643.4649	37,643.4649	37,643.4649	37,643.4649	37,643.4649	37,643.4649	37,643.4649	0	350,276.9231
Signed projects	FEE REVENUE BY SECURITY (EUR)	Projects	65,395.681	48,189.0689	52,798.0914	55,499.693	72,634.8356	92,439.7808	102,218.2523	110,529.65	117,283.8047	89,316.8637	52,060.5593	16,669.4523	0	0	0	0	0	0	0	0	0	0	0	0	875,035.7331	0
Pipeline projects (win-weighted)	FEE REVENUE BY SECURITY (EUR)	Projects	0	0	0	0	0	0	0	0	0	8,750	26,098.8811	36,372.2029	55,968.8637	90,580.1157	114,526.835	131,531.5414	130,212.003	113,992.6603	116,344.6321	96,947.9186	71,040	84,480	84,480	71,040	71,221.084	1,161,144.5697
Time and materials and media fees (run-rate base)	FEE REVENUE BY SECURITY (EUR)	FX	52,834.0077	48,930.2511	61,751.1635	60,667.389	60,545.4465	60,735.9659	50,614.3998	61,642.2382	73,917.6605	85,742.259	87,997.5282	73,634.8207	78,159.7515	75,935.5388	82,636.7029	80,573.5922	80,573.5922	74,876.753	62,405.0143	72,530.4755	83,143.1429	87,582.5765	89,222.2031	74,448.3083	779,013.1302	942,087.6512
FEE REVENUE	FEE REVENUE BY SECURITY (EUR)		284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	356,904.5251	376,271.3088	399,214.17	378,321.8275	360,669.6734	321,189.1806	338,887.9306	371,274.9698	412,834.1813	434,113.9681	432,794.4297	422,278.301	412,378.6536	403,107.4013	387,812.1502	405,803.5837	407,443.2104	379,229.3156	4,006,109.0013	4,807,958.0953
Share of fee revenue from pipeline (not yet won)	FEE REVENUE BY SECURITY (EUR)		0%	0%	0%	0%	0%	0%	0%	0%	0%	2.31%	7.24%	11.32%	18.88%	26.55%	32.48%	36.2%	36%	35.91%	37.34%	33.39%	28.02%	30.09%	29.97%	28.66%	1.78%	31.44%
Signed project fees still to earn	BACKLOG	Projects	74,720.8136	203,419.2598	319,901.796	266,042.8103	302,799.593	276,919.8899	275,084.0736	164,561.4833	158,046.8753	68,730.0116	16,669.4523	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Pipeline project fees still to earn (win-weighted)	BACKLOG	Projects	0	0	0	0	0	0	0	0	1,316,845.6538	1,308,095.6538	1,281,996.7726	1,245,624.5697	1,189,655.706	1,099,075.5904	984,548.7554	853,017.2139	722,805.211	608,812.5507	492,467.9186	395,520	324,480	240,000	155,520	84,480	1,245,624.5697	84,480
Retainer fees, monthly run-rate (EUR)	BACKLOG	Retainers	166,561.2489	166,356.5235	166,419.453	189,372.8169	189,228.2184	203,178.6807	204,071.873	204,099.4205	208,012.7048	194,512.7048	194,512.7048	194,512.7048	204,759.3154	204,759.3154	215,670.6433	222,008.8345	222,008.8345	233,408.8877	233,629.0072	233,629.0072	233,629.0072	233,741.0072	233,741.0072	233,741.0072	190,069.9212	225,393.8229

KPI DASHBOARD
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Net revenue	GROWTH AND MARGIN	PL	284,790.9376	263,475.8435	280,968.708	305,539.8989	322,408.5005	356,354.4274	357,534.5251	377,111.3088	400,080.0034	379,792.6608	362,000.5068	321,751.6806	338,887.9306	371,274.9698	412,834.1813	434,113.9681	432,794.4297	422,278.301	412,378.6536	403,107.4013	387,812.1502	405,803.5837	407,443.2104	379,229.3156	4,011,809.0013	4,807,958.0953
Net revenue growth vs same month prior year	GROWTH AND MARGIN														19%	40.91%	46.93%	42.08%	34.24%	18.5%	15.34%	6.89%	-3.07%	6.85%	12.55%	17.86%		19.85%
Delivery contribution %	GROWTH AND MARGIN	PL	35.68%	30.44%	33.99%	36.85%	43.27%	43.08%	32.12%	42.6%	51.84%	49.02%	45.15%	38.28%	37.55%	43%	48.01%	50.18%	50.19%	48.44%	40.12%	46.51%	44.66%	47.11%	47.33%	43.18%	40.84%	45.73%
EBITDA % of net revenue	GROWTH AND MARGIN	PL	8.86%	-0.24%	3.39%	10.1%	16.66%	19%	10.13%	22.41%	31.38%	27.31%	21.1%	12.63%	11.39%	19.85%	26.55%	27.39%	28.37%	26.08%	17.22%	23.09%	20.31%	23.84%	24.15%	18.28%	16.29%	22.48%
People cost % of net revenue	GROWTH AND MARGIN	PL	79.57%	85.95%	81.27%	77.49%	70.04%	69.02%	80%	68.95%	59.54%	63.06%	67.61%	76.07%	76.76%	70.07%	63.78%	62.95%	62.98%	65.05%	73.7%	67.63%	70.04%	66.93%	66.66%	71.85%	72.37%	67.97%
EBITDA	GROWTH AND MARGIN	PL	25,230.3776	-629.3483	9,527.9225	30,847.5426	53,724.5274	67,693.0978	36,214.5416	84,497.6362	125,536.8472	103,733.2872	76,386.6708	40,637.8446	38,611.8404	73,698.8796	109,603.9809	118,893.0982	122,768.2431	110,129.5388	71,007.0503	93,064.4748	78,757.1753	96,748.6088	98,388.2355	69,326.6664	653,400.9472	1,080,997.7921
Net revenue per head, annualised	GROWTH AND MARGIN	People	89,933.9803	83,202.8979	88,726.9604	94,012.2766	104,564.9191	115,574.4089	112,905.6395	119,087.7817	126,341.0537	116,859.2802	108,600.152	96,525.5042	100,163.9204	109,736.4443	120,389.0687	123,591.1653	123,215.496	120,221.5804	117,403.1754	114,763.673	110,409.1531	115,531.2694	115,998.067	107,965.6414	104,694.5712	114,949.0545
Utilisation of productive hours (own staff)	UTILISATION AND REALISATION	Utilisation	62.46%	60.78%	59.53%	65.44%	74.32%	82.5%	85.66%	82.35%	74.43%	66.1%	64.81%	73.79%	62.06%	69.92%	69.42%	75.41%	75.19%	79.34%	85.73%	78.14%	65.05%	64.97%	69.28%	80.71%	70.33%	72.33%
Realisation (fee revenue / standard value)	UTILISATION AND REALISATION	Utilisation	85.23%	84.44%	84.84%	85.58%	84.41%	84.16%	84.09%	85.56%	94.25%	95.69%	97.62%	95.3%	88.8%	89.82%	91.55%	92.82%	93.03%	92.96%	92.65%	92.16%	92.07%	92.87%	94.37%	93.71%	88.45%	92.28%
Effective fee per hour (EUR)	UTILISATION AND REALISATION	Utilisation	90.8917	89.9634	90.5066	91.5448	90.3662	90.0317	89.9208	91.5636	100.924	102.6408	104.6078	101.9379	100.912	102.1668	104.1203	105.5122	105.7432	105.4699	105.0561	104.5057	104.38	105.3592	107.0258	106.1388	94.5985	104.7536
Retainer overservicing %	UTILISATION AND REALISATION	Retainers	15.31%	12.78%	13.98%	12.74%	12.94%	11.05%	12.65%	12.09%	6.32%	6.04%	6.04%	6.04%	6.05%	6.05%	6.17%	6.22%	6.22%	6.33%	6.34%	6.34%	6.34%	6.36%	6.36%	6.36%	10.56%	6.27%
Freelancer share of billable hours	UTILISATION AND REALISATION	Utilisation	0.01%	0.01%	0.01%	0.01%	0.01%	7.95%	20.23%	10.06%	1.9%	0%	0%	0%	0%	0%	0%	0.61%	0.38%	1.14%	11.58%	0.41%	0%	0%	0%	0.38%	3.8%	1.24%
Headcount	UTILISATION AND REALISATION	People	38	38	38	39	37	37	38	38	38	39	40	40	40.6	40.6	41.15	42.15	42.15	42.15	42.15	42.15	42.15	42.15	42.15	42.15	40	42.15
Retainer share of fee revenue	CLIENTS AND NEW BUSINESS		58.49%	63.14%	59.23%	61.98%	58.69%	57.02%	57.18%	54.24%	52.11%	51.41%	53.93%	60.56%	60.42%	55.15%	52.24%	51.14%	51.3%	55.27%	56.65%	57.96%	60.24%	57.6%	57.37%	61.64%	56.93%	56.26%
Largest client share of net revenue	CLIENTS AND NEW BUSINESS	Clients	26.41%	24.78%	20.68%	15.85%	15.03%	13.63%	16.36%	19.74%	20.37%	19.87%	16.86%	15.71%	15.81%	16.03%	17.21%	19.46%	19.52%	16.82%	20.49%	20.96%	18.32%	20.82%	20.73%	18.73%	18.77%	18.74%
Active retainers (weighted)	CLIENTS AND NEW BUSINESS	Retainers	9	9	9	10	10	11	11	11	11	10	10	10	10.45	10.45	11.15	11.6	11.6	12	11.9	11.9	11.9	11.85	11.85	11.85	10.0833	11.5417
Share of fee revenue not yet won	CLIENTS AND NEW BUSINESS	Pipeline	0%	0%	0%	0%	0%	0%	0%	0%	0%	2.31%	7.24%	11.32%	18.88%	26.55%	32.48%	36.2%	36%	35.91%	37.34%	33.39%	28.02%	30.09%	29.97%	28.66%	1.78%	31.44%
Signed project fees still to earn	CLIENTS AND NEW BUSINESS	Pipeline	74,720.8136	203,419.2598	319,901.796	266,042.8103	302,799.593	276,919.8899	275,084.0736	164,561.4833	158,046.8753	68,730.0116	16,669.4523	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtor days	WORKING CAPITAL, FX AND CASH	Receivables	36.5025	30.1891	34.2928	40.222	34.023	38.7409	37.7131	32.4522	40.5304	41.9522	37.5226	34.8011	36.1338	32.7551	38.0094	40.1946	35.9169	35.3598	36.3104	34.6211	35.9623	39.0529	36.4746	35.6316	34.8011	35.6316
Contract assets (unbilled work)	WORKING CAPITAL, FX AND CASH	BS	56,471.5504	71,124.6723	75,450.8687	36,916.5417	66,622.8948	38,781.8119	79,499.3444	137,974.4649	124,848.0445	114,218.7108	79,693.181	50,715.7155	74,838.7011	70,369.3939	79,460.0222	70,474.8012	77,985.3177	69,340.0691	91,566.4461	62,895.4881	58,570.9347	60,795.1474	68,826.7219	45,225.6584	50,715.7155	45,225.6584
Contract liabilities (invoiced in advance)	WORKING CAPITAL, FX AND CASH	BS	68,030.4779	80,699.323	71,738.6281	88,889.4266	55,026.4496	45,288.2198	89,828.5441	33,513.5438	19,979.9419	76,160.3996	54,944.2873	3,766.8846	115,150.3996	72,919.6754	39,829.8434	70,379.8391	49,051.0697	12,480	68,363.1724	34,181.5862	12,480	68,587.1724	34,293.5862	12,480	3,766.8846	12,480
Media platform payables	WORKING CAPITAL, FX AND CASH	BS	194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	262,037.3474	288,241.0822	353,750.419	314,444.8169	221,703.2453	221,703.2453	244,650.9801	253,886.2155	253,886.2155	241,191.9047	212,062.6581	224,536.9321	249,485.4801	272,014.0281	333,835.3981	296,742.5761	314,444.8169	296,742.5761
FX gains / (losses) on client balances	WORKING CAPITAL, FX AND CASH	PL	-800.6979	-1,448.5772	6,340.4465	-2,443.0889	794.5139	7,283.5668	-524.2913	-2,859.0624	16,781.9446	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	23,124.7543	0
Share of revenue invoiced in GBP and USD	WORKING CAPITAL, FX AND CASH	FX	65.11%	64.61%	64.79%	67.09%	67.11%	67.19%	68.8%	68.48%	69.9%	72.46%	69.91%	67.39%	64.08%	60.5%	60.35%	56.69%	55.93%	58.55%	56.14%	55.49%	57.05%	55.21%	55.21%	56.98%	68.01%	57.57%
Cash at bank	WORKING CAPITAL, FX AND CASH	BS	492,554.9305	675,877.6302	579,312.2071	520,521.0509	600,557.8301	272,487.4753	278,163.985	367,888.0493	350,573.4146	446,940.9135	603,135.3424	665,425.5662	714,071.8419	901,194.7483	774,028.3232	815,642.2822	971,654.8196	746,480.9578	768,151.1834	907,803.0405	980,993.3487	1,066,321.7946	1,219,290.2206	1,257,727.7431	665,425.5662	1,257,727.7431
Cash headroom over the minimum buffer	WORKING CAPITAL, FX AND CASH		142,554.9305	325,877.6302	229,312.2071	170,521.0509	250,557.8301	-77,512.5247	-71,836.015	17,888.0493	573.4146	96,940.9135	253,135.3424	315,425.5662	364,071.8419	551,194.7483	424,028.3232	465,642.2822	621,654.8196	396,480.9578	418,151.1834	557,803.0405	630,993.3487	716,321.7946	869,290.2206	907,727.7431	315,425.5662	907,727.7431
Operating cash flow, trailing three months	WORKING CAPITAL, FX AND CASH	CF	12,154.9305	199,877.6302	109,412.2071	46,666.1205	-57,119.8001	-9,324.7318	54,742.934	65,130.2192	96,285.9393	187,576.9285	257,847.293	337,452.1515	288,816.9284	317,271.4059	165,370.757	159,378.4403	128,268.0713	301,957.0395	279,413.3061	263,052.6258	252,290.3909	315,948.6112	329,265.1802	294,512.3944

client register
Code	Client (fictional)	Country	Invoice currency	VAT class (EE = Estonian VAT, EU = EU reverse charge, XX = outside the EU)	VAT rate on invoices	Client since	Sector	Days to collect (from month-end invoicing)	Days to collect incl. scenario slip	T&M base hours per month	T&M rate FY2026 (invoice currency per hour)	T&M write-off, base	T&M from (month)	T&M write-off, YTD actual	T&M write-off, forecast	Media spend base per month (invoice currency)	Media management fee %	Media management hours per month	Opening receivable 31-Dec-25 (invoice currency, incl. VAT)	Opening contract position 31-Dec-25 (+ unbilled / - deferred)	Closing rate 31-Dec-25	Opening receivable (EUR)	Opening contract position (EUR)
HAL	Halvergate Money Ltd	United Kingdom	GBP	XX	0	2,021	Consumer fintech app	35	35	0	0	0		n/a	0	0	0%	0	53,779.03	19,551	0.8726	61,630.793	22,405.455
THV	Thornbury & Vale Home Ltd	United Kingdom	GBP	XX	0	2,022	Homeware brand, direct to consumer	30	30	0	0	0		n/a	0	55,000	10%	60	68,453.78	0	0.8726	78,448.0633	0
PEL	Pellworth Health Ltd	United Kingdom	GBP	XX	0	2,026	Digital health	30	30	0	0	0		n/a	0	0	0%	0	0	0	0.8726	0	0
ASH	Ashgrove Mobility Ltd	United Kingdom	GBP	XX	0	2,024	Mobility software	45	45	220	88	0.09	2023-06-30	0.0851	0.0651	0	0%	0	27,412.16	14,195.39	0.8726	31,414.3479	16,267.9234
TWL	Tidewell Learning Ltd	United Kingdom	GBP	XX	0	2,025	Education technology	30	30	60	85	0.05	2026-10-31	n/a	0.03	0	0%	0	0	0	0.8726	0	0
RVM	Ravenmoor Travel Ltd	United Kingdom	GBP	XX	0	2,024	Travel booking app	30	30	0	0	0		n/a	0	0	0%	0	19,473.86	22,252.8	0.8726	22,317.0525	25,501.719
MAR	Marlowe Street Coffee Roasters Ltd	United Kingdom	GBP	XX	0	2,026	Specialty coffee	30	30	0	0	0		n/a	0	0	0%	0	0	0	0.8726	0	0
QFS	Quillfield Software Inc.	United States	USD	XX	0	2,026	B2B software	45	45	0	0	0		n/a	0	0	0%	0	0	0	1.175	0	0
HOC	Harrowgate Outdoor Co.	United States	USD	XX	0	2,023	Outdoor equipment brand	60	60	0	0	0		n/a	0	90,000	9%	70	253,672.25	0	1.175	215,891.2766	0
NOR	Norbeck Analytics Inc.	United States	USD	XX	0	2,025	Data analytics software	45	45	0	0	0		n/a	0	0	0%	0	0	0	1.175	0	0
VOL	Voltaro Energie GmbH	Germany	EUR	EU	0	2,023	Energy technology	30	30	0	0	0		n/a	0	0	0%	0	18,099.2	0	1	18,099.2	0
LIN	Lindgrove Retail B.V.	Netherlands	EUR	EU	0	2,024	Fashion retail	30	30	0	0	0		n/a	0	40,000	10%	45	47,504.47	0	1	47,504.47	0
VDH	Veldhaven Fietsen B.V.	Netherlands	EUR	EU	0	2,025	Electric bikes, direct to consumer	30	30	0	0	0		n/a	0	30,000	10%	40	52,537.45	0	1	52,537.45	0
VLM	Van Lienden Mobiliteit B.V.	Netherlands	EUR	EU	0	2,026	Electric mobility	30	30	0	0	0		n/a	0	0	0%	0	0	0	1	0	0
SRV	Sarvivaara Oy	Finland	EUR	EU	0	2,022	Outdoor clothing	21	21	0	0	0		n/a	0	0	0%	0	10,042.96	0	1	10,042.96	0
CAR	Carrigmore Foods DAC	Ireland	EUR	EU	0	2,025	Food brand	30	30	90	98	0.06	2026-03-31	0.0566	0.0366	0	0%	0	0	7,107.89	1	0	7,107.89
TAM	Tammevalla Kodu OÜ	Estonia	EUR	EE	0.24	2,020	Furniture retail	14	14	0	0	0		n/a	0	22,000	12%	30	22,509.09	0	1	22,509.09	0
OTH	Other Estonian clients (11 smaller accounts)	Estonia	EUR	EE	0.24	2,019	Various	20	20	120	92	0.12	2020-12-31	0.1315	0.1115	0	0%	0	7,556.06	7,861.33	1	7,556.06	7,861.33
FER	Ferncliff Robotics Inc.	United States	USD	XX	0		Warehouse robotics (prospect)	45	45	0	0	0		n/a	0	0	0%	0	0	0	1.175	0	0
BRK	Brackenholt Insurance Ltd	United Kingdom	GBP	XX	0		Insurance (prospect)	45	45	0	0	0		n/a	0	0	0%	0	0	0	0.8726	0	0
AUR	Aurelwyn Hotels B.V.	Netherlands	EUR	EU	0		Boutique hotels (prospect)	30	30	0	0	0		n/a	0	0	0%	0	0	0	1	0	0
NEW	New clients not yet identified (FY2027 run-rate)	United Kingdom and EU	EUR	EU	0		Various: sized on the FY2026 win rate	30	30	0	0	0		n/a	0	0	0%	0	0	0	1	0	0

retainer contracts
Contract	Client	Type (rb = brand and content, rp = performance, rd = product design and development)	Currency	Status	Term	Monthly fee (invoice currency)	Scoped hours per month	Start (month)	Current term ends (month)	Renewal or win % Base	Renewal or win % Downside	Renewal or win % Upside	Renewal or win % selected	Billing (M = monthly, Q = quarterly, in advance)	Start month no.	Term end month no.	Overservicing YTD (hours worked / scoped - 1)	Overservicing forecast	Monthly fee at the last actual average rate (EUR)
R-HAL	HAL	rd	GBP	Active	Annual, renews 31-Dec	42,000	430	2023-06-30	2026-12-31	100%	0%	100%	100%	M	-30	12	0.1521	0.0761	49,059.1162
R-THV	THV	rb	GBP	Active	Annual, renews 31-Mar	15,000	180	2022-08-31	2027-03-31	90%	80%	95%	95%	Q	-40	15	0.099	0.0495	17,521.1129
R-RVM	RVM	rd	GBP	Active	Annual, renews 30-Jun	18,000	190	2024-06-30	2027-06-30	90%	80%	95%	95%	M	-18	18	0.0941	0.0471	21,025.3355
R-PEL	PEL	rb	GBP	Active	12 months from Jun-26	11,500	140	2026-06-30	2027-05-31	85%	75%	90%	90%	M	6	17	0.066	0.033	13,432.8533
R-QFS	QFS	rd	USD	Active	12 months from Apr-26	26,000	215	2026-04-30	2027-03-31	90%	75%	95%	95%	M	4	15	0.1411	0.0706	22,529.3531
R-HOC	HOC	rp	USD	Active	Annual, renews 30-Jun	11,000	95	2023-11-30	2027-06-30	90%	80%	95%	95%	M	-25	18	0.0736	0.0368	9,531.6494
R-VOL	VOL	rb	EUR	Active	Annual, renews 31-Dec	18,500	190	2023-06-30	2026-12-31	85%	60%	90%	90%	M	-30	12	0.2635	0.1317	18,500
R-LIN	LIN	rp	EUR	Active	Annual, renews 30-Sep	16,000	165	2024-04-30	2027-09-30	90%	80%	95%	95%	Q	-20	21	0.0498	0.0249	16,000
R-VDH	VDH	rp	EUR	Active	Annual, renews 28-Feb	14,000	145	2024-10-31	2027-02-28	85%	75%	90%	90%	M	-14	14	0.0769	0.0384	14,000
R-SRV	SRV	rb	EUR	Ending	Notice received Jun-26, ends 30-Sep-26	13,500	140	2022-03-31	2026-09-30	0%	0%	0%	0%	M	-45	9	0.2008	0.1004	13,500
R-TAM	TAM	rp	EUR	Active	Annual, renews 31-Dec	9,000	95	2020-12-31	2026-12-31	95%	85%	95%	95%	M	-60	12	0.0597	0.0299	9,000
R-FER	FER	rd	USD	Pipeline	Proposal: 12 months from Jan-27	15,000	130	2027-01-31		45%	25%	60%	60%	M	13	999	n/a	0.08	12,997.7037
R-HAL2	HAL	rp	GBP	Pipeline	Proposal: growth marketing pod from Mar-27	12,000	125	2027-03-31		30%	0%	80%	80%	M	15	999	n/a	0.08	14,016.8904
R-AUR	AUR	rb	EUR	Pipeline	Proposal: follows the website project	11,000	110	2027-04-30		40%	25%	55%	55%	M	16	999	n/a	0.08	11,000
R-BRK	BRK	rb	GBP	Pipeline	Proposal: follows the portal project	20,000	210	2027-06-30		35%	20%	50%	50%	M	18	999	n/a	0.08	23,361.4839

project register
Code	Client	Project	Currency	Status at last actual	Start (month)	Planned completion (month)	Fee incl. approved change requests (invoice currency)	Budget hours	Third-party production budget (EUR)	Mark-up on production recharged	Win % Base	Win % Downside	Win % Upside	Win % selected	Opening hours to date	Opening fee revenue to date	Opening fee invoiced to date	Start month no. (effective)	Completion month no. (effective)	Interim milestone month no.	Fee, probability-weighted	Hours to date at last actual	Estimate to complete at last actual (hours)	Overrun applied	Forecast hours at completion	Programme position at last actual	S-curve share at last actual	Production cost to date at last actual	Production cost remaining (weighted)	Fee per hour at completion (invoice currency)	Fee per hour at budget (invoice currency)
P-2505	CAR	Ecommerce website rebuild	EUR	Completed	2025-08-31	2026-02-28	74,000	760	0	0	100%	100%	100%	100%	605	58,907.89	51,800	-4	2	-1	74,000	790	0	0	790	1	1	0	0	93.6709	97.3684
P-2506	RVM	Booking app redesign	GBP	Completed	2025-09-30	2026-04-30	120,000	1,250	0	0	100%	100%	100%	100%	606.8	58,252.8	36,000	-3	4	1	120,000	1,300	0	0	1,300	1	1	0	0	92.3077	96
P-2507	HAL	Web platform rebuild	GBP	Completed	2025-10-31	2026-03-31	95,000	1,000	0	0	100%	100%	100%	100%	505.8	48,051	28,500	-2	3	1	95,000	1,000	0	0	1,000	1	1	0	0	95	95
P-2601	NOR	Marketing website and design system rebuild	USD	In progress	2026-02-28	2026-10-31	226,500	2,300	0	0	100%	100%	100%	100%	0	0	0	2	10	6	226,500	2,487.3	462.7	-0.05	2,926.865	0.7778	0.8738	0	0	77.3866	98.4783
P-2602	TWL	Learning platform UX and front-end build	GBP	In progress	2026-03-31	2026-09-30	145,000	1,450	0	0	100%	100%	100%	100%	0	0	0	3	9	6	145,000	1,409.6	90.4	-0.05	1,495.48	0.8571	0.9446	0	0	96.9588	100
P-2603	VLM	Brand identity and website	EUR	In progress	2026-05-31	2026-10-31	96,000	960	0	0	100%	100%	100%	100%	0	0	0	5	10	8	96,000	721.6	268.4	-0.05	976.58	0.6667	0.7407	0	0	98.3022	100
P-2604	MAR	Packaging range and ecommerce site	GBP	In progress	2026-06-30	2026-11-30	56,000	560	14,000	0.15	100%	100%	100%	100%	0	0	0	6	11	9	56,000	275.4	284.6	-0.05	545.77	0.5	0.5	9,800	4,200	102.6073	100
P-2605	HAL	App onboarding redesign	GBP	In progress	2026-07-31	2026-11-30	85,000	800	0	0	100%	100%	100%	100%	0	0	0	7	11	9	85,000	281.9	518.1	-0.05	774.095	0.4	0.352	0	0	109.8056	106.25
P-2606	QFS	Product launch campaign (incl. video production)	USD	Contracted	2026-09-30	2026-12-31	120,000	950	30,000	0.12	100%	100%	100%	100%	0	0	0	9	12	11	120,000	0	950	-0.05	902.5	0	0	0	30,000	132.964	126.3158
PL-01	BRK	Customer portal redesign	GBP	Pipeline	2027-02-28	2027-08-31	240,000	2,300	0	0	40%	25%	55%	55%	0	0	0	14	20	17	132,000	0	1,265	-0.05	1,201.75	0	0	0	0	109.8398	104.3478
PL-02	FER	Brand and website	USD	Pipeline	2026-11-30	2027-04-30	160,000	1,500	0	0	50%	30%	65%	65%	0	0	0	11	16	14	104,000	0	975	-0.05	926.25	0	0	0	0	112.2807	106.6667
PL-03	VOL	Product launch campaign	EUR	Pipeline	2026-10-31	2027-01-31	70,000	700	0	0	70%	50%	80%	80%	0	0	0	10	13	12	56,000	0	560	-0.05	532	0	0	0	0	105.2632	100
PL-04	AUR	Booking website	EUR	Pipeline	2027-03-31	2027-08-31	110,000	1,100	0	0	35%	20%	45%	45%	0	0	0	15	20	18	49,500	0	495	-0.05	470.25	0	0	0	0	105.2632	100
NW-1	NEW	New project wins not yet identified, Q1-27 starts (run-rate)	EUR	Pipeline	2027-01-31	2027-05-31	240,000	2,300	0	0	85%	70%	100%	100%	0	0	0	13	17	15	240,000	0	2,300	-0.05	2,185	0	0	0	0	109.8398	104.3478
NW-2	NEW	New project wins not yet identified, Q2-27 starts (run-rate)	EUR	Pipeline	2027-04-30	2027-08-31	240,000	2,300	0	0	85%	70%	100%	100%	0	0	0	16	20	18	240,000	0	2,300	-0.05	2,185	0	0	0	0	109.8398	104.3478
NW-3	NEW	New project wins not yet identified, Q3-27 starts (run-rate)	EUR	Pipeline	2027-07-31	2027-11-30	240,000	2,300	0	0	85%	70%	100%	100%	0	0	0	19	23	21	240,000	0	2,300	-0.05	2,185	0	0	0	0	109.8398	104.3478
NW-4	NEW	New project wins not yet identified, Q4-27 starts (run-rate)	EUR	Pipeline	2027-10-31	2028-02-29	240,000	2,300	0	0	85%	70%	100%	100%	0	0	0	22	26	24	240,000	0	2,300	-0.05	2,185	0	0	0	0	109.8398	104.3478

client profitability
Client	Currency	Status	Net revenue YTD	Net revenue FY2026	Share of net revenue	Hours FY2026	Standard value FY2026	Realisation	Delivery cost at standard	Contribution	Contribution %	Retainer overservice hours	Share of delivery variance	Share of operating costs	Net contribution	Net margin	Net revenue FY2027	Receivable at last actual (EUR)	Debtor days at last actual
Halvergate Money Ltd	GBP	Active	476,986.7984	745,465.3565	0.1858	7,082.42	780,134.2347	0.9556	381,508.3475	363,957.009	48.82%	654.125	-35,702.9581	-183,058.033	145,196.0179	0.1948	758,607.2748	60,375.5137	31.1286
Thornbury & Vale Home Ltd	GBP	Active	188,094.4376	294,177.764	0.0733	3,058.125	314,654.7188	0.9349	142,878.0529	151,299.7112	51.43%	178.125	-15,416.2149	-72,238.9074	63,644.5889	0.2163	301,782.5839	69,053.393	24.7448
Pellworth Health Ltd	GBP	Active	40,126.8977	95,496.1771	0.0238	1,026.1667	105,233.3917	0.9075	47,740.9671	47,755.2101	50.01%	46.1667	-5,172.9756	-23,450.2411	19,131.9934	0.2003	161,650.6112	14,792.0325	33.4904
Ashgrove Mobility Ltd	GBP	Active	161,070.2232	259,684.8552	0.0647	2,728.2481	300,107.2911	0.8653	150,216.5242	109,468.3311	42.15%	0	-13,753.2832	-63,768.7565	31,946.2914	0.123	304,825.1078	28,307.5845	46.3328
Tidewell Learning Ltd	GBP	Active	157,777.3869	188,104.4322	0.0469	1,695.0749	184,289.797	1.0207	90,125.1111	97,979.321	52.09%	0	-8,544.9874	-46,191.318	43,243.0156	0.2299	83,316.8317	0	0
Ravenmoor Travel Ltd	GBP	Active	237,268.8787	323,933.8377	0.0807	3,152.075	346,952.5475	0.9337	169,643.5998	154,290.238	47.63%	178.875	-15,889.8232	-79,545.8711	58,854.5436	0.1817	260,904.8592	20,668.4102	29.8968
Marlowe Street Coffee Roasters Ltd	GBP	Active	33,553.7225	68,440.4549	0.0171	545.77	59,243.3335	1.1552	28,880.204	39,560.251	57.8%	0	-2,751.2635	-16,806.3813	20,002.6061	0.2923	0	6,104.8838	18.0211
Quillfield Software Inc.	USD	Active	112,516.439	315,260.8294	0.0786	3,049.88	335,251.865	0.9404	163,875.1384	151,385.6909	48.02%	212.38	-15,374.6513	-77,416.109	58,594.9306	0.1859	278,835.9299	31,837.6854	43.1668
Harrowgate Outdoor Co.	USD	Active	127,302.7377	203,254.5412	0.0507	2,049.875	211,735.15	0.9599	96,249.9785	107,004.5627	52.65%	69.875	-10,333.5585	-49,911.6105	46,759.3937	0.2301	210,284.7409	195,607.2008	63.9795
Norbeck Analytics Inc.	USD	Active	164,949.0481	196,532.9484	0.049	2,926.865	317,711.1958	0.6186	154,879.2682	41,653.6802	21.19%	0	-14,754.5244	-48,261.0421	-21,361.8863	-0.1087	0	14,229.0445	22.2933
Voltaro Energie GmbH	EUR	Active	148,000	269,250	0.0671	3,229.5	333,878.475	0.8064	153,117.5498	116,132.4502	43.13%	500.625	-16,280.1279	-66,117.5935	33,734.7289	0.1253	220,538	19,171.34	31.5032
Lindgrove Retail B.V.	EUR	Active	158,048.9	242,508.9	0.0604	2,602.125	268,146.45	0.9044	121,817.3293	120,691.5707	49.77%	82.125	-13,117.4881	-59,550.993	48,023.0896	0.198	244,333	31,062.21	16.6882
Veldhaven Fietsen B.V.	EUR	Active	134,349.79	205,694.79	0.0513	2,331.5	240,254.2	0.8562	109,145.4916	96,549.2984	46.94%	111.5	-11,753.2492	-50,510.8431	34,285.2062	0.1667	197,761	37,007.38	26.0552
Van Lienden Mobiliteit B.V.	EUR	Active	69,973.33	96,000	0.0239	976.58	106,007.759	0.9056	51,677.1343	44,322.8657	46.17%	0	-4,923.0058	-23,573.9609	15,825.899	0.1649	0	35,674.26	84.7264
Sarvivaara Oy	EUR	Ending	108,000	121,500	0.0303	1,498.9562	153,717.9634	0.7904	69,736.8403	51,763.1597	42.6%	238.9563	-7,556.3398	-29,835.7943	14,371.0256	0.1183	0	10,590.69	23.8487
Carrigmore Foods DAC	EUR	Active	64,007.71	102,469.8618	0.0255	1,121.4924	123,095.9146	0.8324	61,352.5325	41,117.3293	40.13%	0	-5,653.5191	-25,162.7137	10,301.0965	0.1005	118,889.3507	5,867.45	22.7698
Tammevalla Kodu OÜ	EUR	Active	91,544.86	141,048.46	0.0352	1,556.75	160,465.9	0.879	72,904.0417	68,144.4183	48.31%	56.75	-7,847.682	-34,636.155	25,660.5812	0.1819	141,861.6	19,726.5996	14.7838
Other Estonian clients (11 smaller accounts)	EUR	Active	74,612.99	119,014.7089	0.0297	1,476.9899	162,468.8861	0.7325	81,322.6205	37,692.0884	31.67%	0	-7,445.6058	-29,225.501	1,020.9816	0.0086	137,248.991	6,973.4732	19.0507
Ferncliff Robotics Inc.	USD	Prospect	0	23,971.084	0.006	240.1389	26,067.0764	0.9196	12,707.2945	11,263.7896	46.99%	0	-1,210.5564	-5,886.3896	4,166.8436	0.1738	164,504.8568	0	0
Brackenholt Insurance Ltd	GBP	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	243,143.3573	0	0
Aurelwyn Hotels B.V.	EUR	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	103,950	0	0
New clients not yet identified (FY2027 run-rate)	EUR	Prospect	0	0	0	0	0	0	0	0	0%	0	0	0	0	0	875,520	0	0
TOTAL			2,548,184.1498	4,011,809.0013	1	42,348.5321	4,529,416.1496	0.8857	2,159,778.0261	1,852,030.9753	46.16%	2,329.5029	-213,481.8141	-985,148.214	653,400.9472	0.1629	4,807,958.0953	607,049.1513

concentration
Measure	Value
Largest client share of net revenue, FY2026	0.1858
Top five clients share of net revenue, FY2026	0.4856
Largest client share of net revenue, FY2027	0.1821

pipeline / opportunities
Opportunity	Client	Description	Value (EUR at the last actual rate)	Win % Base	Win % Downside	Win % Upside	Win % selected	Weighted value	Start
PL-01	BRK	Customer portal redesign	280,337.8071	40%	25%	55%	55%	154,185.7939	2027-02-28
PL-02	FER	Brand and website	138,642.1732	50%	30%	65%	65%	90,117.4126	2026-11-30
PL-03	VOL	Product launch campaign	70,000	70%	50%	80%	80%	56,000	2026-10-31
PL-04	AUR	Booking website	110,000	35%	20%	45%	45%	49,500	2027-03-31
NW-1	NEW	New project wins not yet identified, Q1-27 starts (run-rate)	240,000	85%	70%	100%	100%	240,000	2027-01-31
NW-2	NEW	New project wins not yet identified, Q2-27 starts (run-rate)	240,000	85%	70%	100%	100%	240,000	2027-04-30
NW-3	NEW	New project wins not yet identified, Q3-27 starts (run-rate)	240,000	85%	70%	100%	100%	240,000	2027-07-31
NW-4	NEW	New project wins not yet identified, Q4-27 starts (run-rate)	240,000	85%	70%	100%	100%	240,000	2027-10-31
R-FER	FER	Retainer: Proposal: 12 months from Jan-27	155,972.4449	45%	25%	60%	60%	93,583.4669	2027-01-31
R-HAL2	HAL	Retainer: Proposal: growth marketing pod from Mar-27	168,202.6842	30%	0%	80%	80%	134,562.1474	2027-03-31
R-AUR	AUR	Retainer: Proposal: follows the website project	132,000	40%	25%	55%	55%	72,600	2027-04-30
R-BRK	BRK	Retainer: Proposal: follows the portal project	280,337.8071	35%	20%	50%	50%	140,168.9035	2027-06-30
TOTAL			2,295,492.9164					1,750,717.7243

pipeline / renewal calendar
Contract	Client	Term	Annual fees (EUR at the last actual rate)	Term ends	Renewal % selected	Expected retained value	Value at risk	Overservicing YTD
R-SRV	SRV	Notice received Jun-26, ends 30-Sep-26	162,000	2026-09-30	0%	0	162,000	0.2008
R-HAL	HAL	Annual, renews 31-Dec	588,709.3948	2026-12-31	100%	588,709.3948	0	0.1521
R-VOL	VOL	Annual, renews 31-Dec	222,000	2026-12-31	90%	199,800	22,200	0.2635
R-TAM	TAM	Annual, renews 31-Dec	108,000	2026-12-31	95%	102,600	5,400	0.0597
R-VDH	VDH	Annual, renews 28-Feb	168,000	2027-02-28	90%	151,200	16,800	0.0769
R-THV	THV	Annual, renews 31-Mar	210,253.3553	2027-03-31	95%	199,740.6875	10,512.6678	0.099
R-QFS	QFS	12 months from Apr-26	270,352.2378	2027-03-31	95%	256,834.6259	13,517.6119	0.1411
R-PEL	PEL	12 months from Jun-26	161,194.2391	2027-05-31	90%	145,074.8152	16,119.4239	0.066
R-RVM	RVM	Annual, renews 30-Jun	252,304.0264	2027-06-30	95%	239,688.825	12,615.2013	0.0941
R-HOC	HOC	Annual, renews 30-Jun	114,379.7929	2027-06-30	95%	108,660.8033	5,718.9896	0.0736
R-LIN	LIN	Annual, renews 30-Sep	192,000	2027-09-30	95%	182,400	9,600	0.0498
TOTAL			2,449,193.0462			2,174,709.1517	274,483.8945

pipeline / new business
Measure	Value
Proposals submitted	19
Value proposed (EUR)	3,520,000
Won (count)	8
Won (EUR)	1,155,000
Lost (count)	8
Lost (EUR)	1,420,000
Still open (count)	3
Win rate on decided proposals (count)	0.5
Win rate on decided proposals (value)	0.4485
Average tenure of clients with active retainers (years)	2.6

Receivables & payables

Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

Receivables ageing
Measure	Value
as at	2026-08-31

Receivables ageing / items
Client (fictional)	Invoice / item	Currency	Group	Amount (currency)	Closing rate	Amount (EUR)	Due date	Days past due	Not yet due	1 to 30	31 to 60	Action / note
Halvergate Money Ltd	Retainer and onboarding project, invoices dated 31-Aug	GBP	GBP clients	32,060.46	0.8565	37,432.818	2026-10-05	0	37,432.818	0	0	35-day terms.
Halvergate Money Ltd	July invoices	GBP	GBP clients	19,649.96	0.8565	22,942.6957	2026-09-04	0	22,942.6957	0	0	Due 4-Sep; paid on 9-Sep per the bank.
Thornbury & Vale Home Ltd	August media and media management fee	GBP	GBP clients	44,357.14	0.8565	51,790.0476	2026-09-30	0	51,790.0476	0	0	Media billed at cost plus 10% management fee.
Thornbury & Vale Home Ltd	July media invoice, balance	GBP	GBP clients	14,785.71	0.8565	17,263.3453	2026-08-30	1	0	17,263.3453	0	Short-paid: client queried two campaign line items; resolved, balance due.
Pellworth Health Ltd	August retainer	GBP	GBP clients	12,669.08	0.8565	14,792.0325	2026-09-30	0	14,792.0325	0	0	Standard 30-day terms.
Ashgrove Mobility Ltd	August time and materials	GBP	GBP clients	13,334.68	0.8565	15,569.1668	2026-10-15	0	15,569.1668	0	0	45-day terms.
Ashgrove Mobility Ltd	July time and materials	GBP	GBP clients	10,910.2	0.8565	12,738.4177	2026-09-15	0	12,738.4177	0	0	45-day terms.
Ravenmoor Travel Ltd	August retainer	GBP	GBP clients	17,702.08	0.8565	20,668.4102	2026-09-30	0	20,668.4102	0	0	Standard 30-day terms.
Veldhaven Fietsen B.V.	August retainer, media and media management fee	EUR	EUR clients	37,007.38	1	37,007.38	2026-09-30	0	37,007.38	0	0	Reverse charge (EU B2B).
Marlowe Street Coffee Roasters Ltd	Deposit balance and August production recharges	GBP	GBP clients	5,228.71	0.8565	6,104.8828	2026-09-30	0	6,104.8828	0	0	Photography and print proofs recharged at cost plus 15%.
Quillfield Software Inc.	August retainer and campaign deposit	USD	USD clients	18,459.49	1.1596	15,918.8427	2026-10-15	0	15,918.8427	0	0	45-day terms; campaign deposit invoiced on signature.
Quillfield Software Inc.	July retainer	USD	USD clients	18,459.49	1.1596	15,918.8427	2026-09-14	0	15,918.8427	0	0	45-day terms.
Harrowgate Outdoor Co.	August media and fees	USD	USD clients	81,657.4	1.1596	70,418.5926	2026-10-30	0	70,418.5926	0	0	60-day terms on media: the agency funds the client media for two months.
Harrowgate Outdoor Co.	July media and fees	USD	USD clients	77,120.88	1.1596	66,506.4505	2026-09-29	0	66,506.4505	0	0	60-day terms.
Harrowgate Outdoor Co.	June media and fees	USD	USD clients	68,047.83	1.1596	58,682.1576	2026-08-29	2	0	58,682.1576	0	Overdue: client finance switched payment runs to monthly; chased weekly.
Norbeck Analytics Inc.	Change request CR-03 (additional page templates), invoiced 29-May	USD	USD clients	16,500	1.1596	14,229.0445	2026-07-13	49	0	0	14,229.0445	Disputed: client finance says CR-03 was inside the original scope. 50% provided in June. Settlement meeting set for October.
Voltaro Energie GmbH	August retainer	EUR	EUR clients	19,171.34	1	19,171.34	2026-09-30	0	19,171.34	0	0	Reverse charge (EU B2B).
Lindgrove Retail B.V.	August media and media management fee	EUR	EUR clients	31,062.21	1	31,062.21	2026-09-30	0	31,062.21	0	0	Reverse charge (EU B2B).
Van Lienden Mobiliteit B.V.	Interim milestone	EUR	EUR clients	35,674.26	1	35,674.26	2026-09-30	0	35,674.26	0	0	Reverse charge (EU B2B).
Sarvivaara Oy	August retainer	EUR	EUR clients	10,590.69	1	10,590.69	2026-09-21	0	10,590.69	0	0	Final month is September; notice received in June.
Carrigmore Foods DAC	August time and materials	EUR	EUR clients	5,867.45	1	5,867.45	2026-09-30	0	5,867.45	0	0	Reverse charge (EU B2B).
Tammevalla Kodu OÜ	August retainer, media and fees incl. 24% VAT	EUR	EUR clients	19,726.6	1	19,726.6	2026-09-14	0	19,726.6	0	0	Estonian client: 24% VAT.
Other Estonian clients (11 smaller accounts)	August invoices, 9 accounts	EUR	EUR clients	5,578.78	1	5,578.78	2026-09-20	0	5,578.78	0	0	Estonian clients: 24% VAT.
Other Estonian clients (11 smaller accounts)	July invoices, 3 accounts	EUR	EUR clients	1,394.7	1	1,394.7	2026-08-20	11	0	1,394.7	0	Chased; two promised in September.

Receivables ageing / totals
Value
TOTAL (EUR)





607,049.1574


515,479.9099
77,340.203
14,229.0445
0
0

Receivables ageing / tie outs
label	values
GBP clients: aging vs ledger	[null, null, null, 170698.02, null, 199301.8167, 199301.8178, 0]
USD clients: aging vs ledger	[null, null, null, 280245.09, null, 241673.9307, 241673.9307, 0]
EUR clients: aging vs ledger	[null, null, null, 166073.41, null, 166073.41, 166073.4028, 0]

Payables ageing
Measure	Value
as at	2026-08-31

Payables ageing / items
Counterparty (fictional)	Item / document	Group	Amount (EUR)	Due date	Not yet due	Action / note
Freelance motion designer (sole trader, Tallinn)	August invoice	Freelancers	5,556.36	2026-09-15	5,556.36	Freelancer payment run on the 15th and at month end.
Kelp & Ink OÜ (illustration)	August invoice	Freelancers	4,546.11	2026-09-15	4,546.11	Freelancer payment run on the 15th and at month end.
Northgrid Dev Collective (Poland)	August development hours, reverse charge	Freelancers	3,788.42	2026-09-20	3,788.42	Freelancer payment run on the 15th and at month end.
Freelance copywriter (sole trader, Tartu)	August invoice	Freelancers	3,030.74	2026-09-10	3,030.74	Freelancer payment run on the 15th and at month end.
Other freelancers (9 invoices)	August invoices	Freelancers	8,334.54	2026-09-20	8,334.54	Freelancer payment run on the 15th and at month end.
Social media advertising platform (Ireland)	August spend invoice, reverse charge	Media platforms	129,277.03	2026-09-30	129,277.03	Monthly invoice, 30 days. Client media funded before clients pay.
Search advertising platform (Ireland)	August spend invoice, reverse charge	Media platforms	105,772.12	2026-09-30	105,772.12	Monthly invoice, 30 days. Client media funded before clients pay.
Helkvalgus Stuudio OÜ (photography)	Packaging photography, August	Production suppliers	4,285.03	2026-09-30	4,285.03	Recharged to Marlowe Street at cost plus 15%.
Kaldvere Trükk OÜ (print proofs)	Print proofs, August	Production suppliers	2,626.31	2026-09-30	2,626.31	Recharged to Marlowe Street at cost plus 15%.
Veskimere Kinnisvara OÜ (landlord)	September rent, invoiced in advance	Overheads	7,727.66	2026-09-18	7,727.66
Software subscriptions (14 vendors)	August renewals	Overheads	5,454.82	2026-09-18	5,454.82
Travel agency and airlines	London and New York client visits	Overheads	3,636.55	2026-09-18	3,636.55
Sundry overhead suppliers (12 invoices)	Office, IT and professional fees	Overheads	5,909.4	2026-09-18	5,909.4

Payables ageing / totals
Value
TOTAL


289,945.09


289,945.09
0
0
0
0

Payables ageing / tie outs
label	values
Freelancers: aging vs schedule	[null, null, 25256.17, "Ledger balance", 25256.1655, "Difference", 0, null]
Media platforms: aging vs schedule	[null, null, 235049.15, "Ledger balance", 235049.1532, "Difference", 0, null]
Production suppliers: aging vs schedule	[null, null, 6911.34, "Ledger balance", 6911.34, "Difference", 0, null]
Overheads: aging vs schedule	[null, null, 22728.43, "Ledger balance", 22728.426, "Difference", 0, null]

TRADE RECEIVABLES, SPECIFIC PROVISION AND COLLECTIONS (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
EUR clients	RECEIVABLES BY INVOICE CURRENCY (EUR)	FX	180,833.5988	149,576.8344	133,915.0084	208,320.0968	194,481.1148	151,415.8996	189,035.7464	166,073.4028	162,248.9871	261,657.5734	193,910.3393	199,739.2711	273,740.0832	141,873.9011	257,789.2745	279,392.0207	230,322.5223	269,324.0237	262,322.779	230,495.4079	252,450.9002	286,663.0179	262,516.6347	270,879.8914	199,739.2711	270,879.8914
GBP clients	RECEIVABLES BY INVOICE CURRENCY (EUR)	FX	324,748.4646	172,070.5809	254,842.2144	291,635.6595	183,482.1789	264,594.1656	257,253.1201	199,301.8178	329,006.2178	283,330.8808	301,885.5646	241,322.4048	258,055.5878	257,821.3718	255,450.7786	290,242.3175	298,517.5786	273,633.9434	292,281.7269	282,348.8518	269,205.7468	314,545.4578	282,294.8472	268,726.1425	241,322.4048	268,726.1425
USD clients	RECEIVABLES BY INVOICE CURRENCY (EUR)	FX	193,247.8731	198,739.1868	191,704.2529	194,476.8757	223,675.2491	316,774.39	257,694.4449	241,673.9307	299,831.9657	351,418.9128	407,216.3774	377,104.3982	277,529.1618	266,308.5031	257,410.1272	281,208.3264	272,217.046	253,551.2601	235,152.0299	226,106.5627	239,777.4473	258,005.2933	289,904.024	299,017.947	377,104.3982	299,017.947
TRADE RECEIVABLES, GROSS	RECEIVABLES BY INVOICE CURRENCY (EUR)		698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	732,784.4552	703,983.3115	607,049.1513	791,087.1706	896,407.3671	903,012.2813	818,166.074	809,324.8327	666,003.7759	770,650.1804	850,842.6645	801,057.147	796,509.2273	789,756.5357	738,950.8224	761,434.0943	859,213.7691	834,715.5059	838,623.9809	818,166.074	838,623.9809
Written off on settlement (EUR)	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)	FX	0	0	0	0	0	0	0	0	0	2,933.8236	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,933.8236	0
Charge / (release) to the P&L	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)	A: ledger; F: write-off less provision held	0	0	0	0	0	7,240.65	0	0	0	-4,306.8264	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,933.8236	0
Provision held	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)	opening + charge - written off	0	0	0	0	0	7,240.65	7,240.65	7,240.65	7,240.65	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
TRADE RECEIVABLES, NET (to balance sheet)	SPECIFIC PROVISION (IFRS 9 credit-impaired balance)		698,829.9365	520,386.602	580,461.4757	694,432.632	601,638.5427	725,543.8052	696,742.6615	599,808.5013	783,846.5206	896,407.3671	903,012.2813	818,166.074	809,324.8327	666,003.7759	770,650.1804	850,842.6645	801,057.147	796,509.2273	789,756.5357	738,950.8224	761,434.0943	859,213.7691	834,715.5059	838,623.9809	818,166.074	838,623.9809
Invoiced incl. VAT (EUR at average rates)	INVOICED, COLLECTED AND DAYS		582,000.0902	466,043.0471	495,663.8385	612,860.2722	504,193.8857	607,994.9225	590,224.6249	507,765.1433	682,084.2045	758,852.068	753,869.063	631,367.7552	657,460.9267	565,525.4807	626,117.6388	738,884.7556	669,039.0933	646,433.133	668,141.4521	631,993.2662	630,852.9939	743,667.8981	712,579.4184	690,230.9508	7,192,918.9149	7,980,927.0076
Collected (EUR)	INVOICED, COLLECTED AND DAYS	FX	450,108.2645	643,490.2843	442,682.5761	496,148.6874	597,758.2161	484,125.6903	618,579.1316	602,097.4437	511,684.6104	650,598.0479	747,264.1487	716,213.9625	666,302.168	708,846.5375	521,471.2343	658,692.2715	718,824.6108	650,981.0527	674,894.1437	682,798.9795	608,369.7221	645,888.2233	737,077.6815	686,322.4758	6,960,751.0634	7,960,469.1006
Debtor days (receivables / average monthly invoicing of the last three months x 30.4)	INVOICED, COLLECTED AND DAYS		36.5025	30.1891	34.2928	40.222	34.023	38.7409	37.7131	32.4522	40.5304	41.9522	37.5226	34.8011	36.1338	32.7551	38.0094	40.1946	35.9169	35.3598	36.3104	34.6211	35.9623	39.0529	36.4746	35.6316	34.8011	35.6316
Disputed balance (EUR, memo)	INVOICED, COLLECTED AND DAYS	Clients	0	0	0	0	14,170.3882	14,481.306	14,366.5651	14,229.0445	14,669.118	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

TRADE PAYABLES BY SUPPLIER GROUP (EUR)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Invoices received (incl. VAT)	FREELANCERS		5,548.8617	6,489.6133	5,617.2192	7,159.631	5,710.1381	27,987.73	65,413.1379	35,594.1344	12,194.6748	6,028	6,028	6,028	6,299.26	6,299.26	6,299.26	8,125.0809	7,363.708	9,690.0509	41,718.2848	7,382.055	6,299.26	6,299.26	6,299.26	7,228.311	189,799.1403	119,303.0505
Opening balance	FREELANCERS		21,400	3,639.1517	4,316.465	3,396.7242	4,501.8351	3,824.9532	20,329.9532	47,535.2511	25,256.1655	8,129.7832	4,018.6667	4,018.6667	4,018.6667	4,199.5067	4,199.5067	4,199.5067	5,416.7206	4,909.1387	6,460.0339	27,812.1899	4,921.37	4,199.5067	4,199.5067	4,199.5067
Paid	FREELANCERS	A: bank; F: opening + invoices - closing at days payable	23,309.71	5,812.3	6,536.96	6,054.52	6,387.02	11,482.73	38,207.84	57,873.22	29,321.0571	10,139.1165	6,028	6,028	6,118.42	6,299.26	6,299.26	6,907.867	7,871.2899	8,139.1556	20,366.1288	30,272.8748	7,021.1233	6,299.26	6,299.26	6,608.9437	207,180.4737	118,502.8431
CLOSING BALANCE	FREELANCERS		3,639.1517	4,316.465	3,396.7242	4,501.8351	3,824.9532	20,329.9532	47,535.2511	25,256.1655	8,129.7832	4,018.6667	4,018.6667	4,018.6667	4,199.5067	4,199.5067	4,199.5067	5,416.7206	4,909.1387	6,460.0339	27,812.1899	4,921.37	4,199.5067	4,199.5067	4,199.5067	4,818.874	4,018.6667	4,818.874
Invoices received (incl. VAT)	MEDIA PLATFORMS (reverse charge)		197,458.8042	195,290.5747	219,059.5025	241,000.8898	234,907.7945	223,392.8507	214,762.2655	230,207.1313	262,037.3474	288,241.0822	353,750.419	314,444.8169	221,703.2453	221,703.2453	244,650.9801	253,886.2155	253,886.2155	241,191.9047	212,062.6581	224,536.9321	249,485.4801	272,014.0281	333,835.3981	296,742.5761	2,974,553.4787	3,025,698.8787
Opening balance	MEDIA PLATFORMS (reverse charge)		158,000	194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	262,037.3474	288,241.0822	353,750.419	314,444.8169	221,703.2453	221,703.2453	244,650.9801	253,886.2155	253,886.2155	241,191.9047	212,062.6581	224,536.9321	249,485.4801	272,014.0281	333,835.3981
Paid	MEDIA PLATFORMS (reverse charge)	A: bank; F: opening + invoices - closing at days payable	160,513.37	194,305.35	194,859.5	210,132.63	243,567.19	255,796.31	232,273.71	187,582.6	235,049.1532	262,037.3474	288,241.0822	353,750.419	314,444.8169	221,703.2453	221,703.2453	244,650.9801	253,886.2155	253,886.2155	241,191.9047	212,062.6581	224,536.9321	249,485.4801	272,014.0281	333,835.3981	2,818,108.6618	3,043,401.1196
CLOSING BALANCE	MEDIA PLATFORMS (reverse charge)		194,945.4342	195,930.6589	220,130.6614	250,998.9212	242,339.5257	209,936.0664	192,424.6218	235,049.1532	262,037.3474	288,241.0822	353,750.419	314,444.8169	221,703.2453	221,703.2453	244,650.9801	253,886.2155	253,886.2155	241,191.9047	212,062.6581	224,536.9321	249,485.4801	272,014.0281	333,835.3981	296,742.5761	314,444.8169	296,742.5761
Invoices received (incl. VAT)	PRODUCTION SUPPLIERS (incl. 24% VAT)		0	0	0	0	0	0	5,208	6,944	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0	0	54,560	0
Opening balance	PRODUCTION SUPPLIERS (incl. 24% VAT)		0	0	0	0	0	0	0	5,191.28	6,911.34	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0
Paid	PRODUCTION SUPPLIERS (incl. 24% VAT)	A: bank; F: opening + invoices - closing at days payable	0	0	0	0	0	0	16.72	5,223.94	6,911.34	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0	48,747.5	5,812.5
CLOSING BALANCE	PRODUCTION SUPPLIERS (incl. 24% VAT)		0	0	0	0	0	0	5,191.28	6,911.34	8,320.0556	14,716.3889	13,559.0556	5,812.5	0	0	0	0	0	0	0	0	0	0	0	0	5,812.5	0
Invoices received (incl. VAT)	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)		38,093.864	43,256.144	49,862.704	43,541.56	49,112.036	40,907.06	41,309.124	37,772.784	41,858	47,438	47,438	41,858	46,461.74	43,113.74	46,182.74	48,693.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	522,447.276	529,361.88
Opening balance	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)		24,300	24,604.464	26,075.648	33,979.422	24,448.882	27,001.648	22,879.108	25,041.492	22,728.426	25,114.8	28,462.8	28,462.8	25,114.8	27,877.044	25,868.244	27,709.644	29,216.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244
Paid	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)	A: bank; F: opening + invoices - closing at days payable	37,789.4	41,784.96	41,958.93	53,072.1	46,559.27	45,029.6	39,146.74	40,085.85	39,471.626	44,090	47,438	45,206	43,699.496	45,122.54	44,341.34	47,187.14	46,461.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	43,113.74	521,632.476	528,608.436
CLOSING BALANCE	OVERHEAD SUPPLIERS (incl. VAT on the recoverable share)		24,604.464	26,075.648	33,979.422	24,448.882	27,001.648	22,879.108	25,041.492	22,728.426	25,114.8	28,462.8	28,462.8	25,114.8	27,877.044	25,868.244	27,709.644	29,216.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,868.244	25,114.8	25,868.244
TRADE PAYABLES (to balance sheet)	TOTALS		223,189.0499	226,322.7718	257,506.8076	279,949.6383	273,166.1269	253,145.1276	270,192.645	289,945.0847	303,601.9862	335,438.9377	399,790.9413	349,390.7836	253,779.796	251,770.996	276,560.1307	288,519.1801	284,663.5981	273,520.1826	265,743.0919	255,326.546	279,553.2307	302,081.7787	363,903.1488	327,429.6941	349,390.7836	327,429.6941

13-week cash forecast

Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

CLOSING CASH · EUR

13-week cash forecast
Measure	2026-09-18	2026-09-25	2026-10-02	2026-10-09	2026-10-16	2026-10-23	2026-10-30	2026-11-06	2026-11-13	2026-11-20	2026-11-27	2026-12-04	2026-12-11
GBP clients (converted to EUR on receipt)	44,822.7337	44,822.7337	51,496.9572	68,182.5161	68,182.5161	68,182.5161	68,182.5161	62,107.1031	61,094.5343	61,094.5343	61,094.5343	61,638.3886	62,046.2793
USD clients (converted to EUR on receipt)	29,832.3662	29,832.3662	31,364.5327	35,194.949	35,194.949	35,194.949	35,194.949	42,742.3161	44,000.2106	44,000.2106	44,000.2106	46,648.8398	48,635.3117
EUR clients	46,232.5461	46,232.5461	45,460.8962	43,531.7715	43,531.7715	43,531.7715	43,531.7715	65,590.4444	69,266.8898	69,266.8898	69,266.8898	58,853.8913	51,044.1424
VAT refund credited against the TSD payment (10th)	0	0	0	0	144.492	0	0	0	0	0	0	0	0
TOTAL RECEIPTS	120,887.6459	120,887.6459	128,322.3861	146,909.2366	147,053.7286	146,909.2366	146,909.2366	170,439.8636	174,361.6347	174,361.6347	174,361.6347	167,141.1197	161,725.7335
Net salaries (last banking day)	0	0	-126,234.392	0	0	0	0	-130,072.8	0	0	0	-133,008.904	0
Net bonus (March only)	0	0	0	0	0	0	0	0	0	0	0	0	0
Payroll taxes, TSD (10th)	0	0	0	0	-87,979.408	0	0	0	-90,697.2	0	0	0	-92,711.696
Freelancers (runs on the 15th and at month end)	-6,816.9158	-6,816.9158	-5,523.3621	-2,289.4779	-2,289.4779	-2,289.4779	-2,289.4779	-1,532.6683	-1,406.5333	-1,406.5333	-1,406.5333	-1,380.6065	-1,361.1613
Media platforms (monthly invoices, 30 days)	0	-235,049.1532	0	0	0	0	-262,037.3474	0	0	0	-288,241.0822	0	0
Production suppliers	-1,612.7042	-1,612.7042	-1,688.7094	-1,878.7222	-1,878.7222	-1,878.7222	-1,878.7222	-3,211.6667	-3,433.8241	-3,433.8241	-3,433.8241	-3,221.1944	-3,061.7222
Overhead suppliers (rent in advance, software, travel)	-9,210.0201	-9,210.0201	-9,423.1019	-9,955.8065	-9,955.8065	-9,955.8065	-9,955.8065	-10,909.8581	-11,068.8667	-11,068.8667	-11,068.8667	-10,576.8323	-10,207.8065
VAT, monthly return (20th)	0	0	0	0	0	-1,662.3136	0	0	0	-880.1448	0	0	0
Income tax on distributions (10th)	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan instalment (25th)	0	-3,392	0	0	0	0	-3,378	0	0	0	-3,364	0	0
Capex incl. VAT	-810.1579	-810.1579	-1,010.6842	-1,512	-1,512	-1,512	-1,512	-1,555.2	-1,562.4	-1,562.4	-1,562.4	-1,117.6	-784
Dividends	0	0	0	0	0	0	0	0	0	0	0	0	0
TOTAL PAYMENTS	-18,449.798	-256,890.9512	-143,880.2496	-15,636.0066	-103,615.4146	-17,298.3202	-281,051.354	-147,282.193	-108,168.8241	-18,351.7689	-309,076.7063	-149,305.1372	-108,126.386
NET CASH FLOW FOR THE WEEK	102,437.8479	-136,003.3052	-15,557.8635	131,273.23	43,438.314	129,610.9165	-134,142.1174	23,157.6705	66,192.8106	156,009.8659	-134,715.0715	17,835.9826	53,599.3475
Opening cash	437,203.3725	539,641.2205	403,637.9153	388,080.0518	519,353.2818	562,791.5958	692,402.5123	558,260.3949	581,418.0654	647,610.8761	803,620.7419	668,905.6704	686,741.6529
CLOSING CASH	539,641.2205	403,637.9153	388,080.0518	519,353.2818	562,791.5958	692,402.5123	558,260.3949	581,418.0654	647,610.8761	803,620.7419	668,905.6704	686,741.6529	740,341.0004
Minimum cash buffer (board policy)	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000	350,000
HEADROOM / (SHORTFALL) VS BUFFER	189,641.2205	53,637.9153	38,080.0518	169,353.2818	212,791.5958	342,402.5123	208,260.3949	231,418.0654	297,610.8761	453,620.7419	318,905.6704	336,741.6529	390,341.0004
Status	OK	OK	OK	OK	OK	OK	OK	OK	OK	OK	OK	OK	OK

13-week control
Measure	Value
low	388,080.0518
lowwk	2026-10-02
short	38,080.0518
fac	300,000
fachead	300,000
taxwk	273,930.7623

Reconciliation to monthly model
Measure	Value
rec close	740,341.0004
rec dec	-74,915.4343
rec implied	665,425.5662
rec bs	665,425.5662
rec diff	0

Schedules & controls

Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

Integrity checks
Measure	Value
overall status	OK

Integrity checks / checks
check	proves	value	tolerance	status
Balance sheet balances in every month	Total assets less liabilities and equity, all 24 months	0	0.5	OK
Cash flow: indirect method equals direct method every month	P&L and balance sheet movements equal the sum of the schedule cash lines	0	0.5	OK
Closing cash on the cash flow equals balance sheet cash	Link integrity	0	0.5	OK
Retained earnings roll: closing = opening + profit - dividends	Equity roll-forward to Dec-27	0	0.5	OK
EBITDA plus FX on the cash flow equals the P&L	Add-backs complete	0	0.5	OK
Opening balance sheet at 31-Dec-25 balances	FY2025 closing balances on Inputs_Actuals and Client_Register	0.0007	0.5	OK
Project revenue in actual months equals % complete x contract value	Ledger revenue agrees with the hours-based method, every project, every actual month	0	0.5	OK
Hours by role equal hours booked to clients, every month	Timesheets by role and by client agree; forecast demand by role keeps every hour	0	0.5	OK
Role mixes sum to 100% for every work type	No hours lost in the role split	0	0	OK
Milestone shares sum to 100%	Every project is fully invoiced	0	0	OK
Percentage complete stays between 0% and 100%	No over-recognition	0	0.0001	OK
Projects finishing within the horizon are fully invoiced by completion	Milestone invoicing reaches the contract value	0	0.5	OK
Net revenue by client equals the P&L, every month	Client blocks and currency totals agree	0	0.5	OK
Client profitability: allocated net contributions equal EBITDA	Delivery variance and operating costs are fully allocated	0	0.5	OK
Client profitability: net revenue equals the P&L		0	0.5	OK
EUR clients show no FX revaluation	Translation logic is neutral where no currency is involved	0	0.5	OK
AR aging: GBP clients tie to the ledger (EUR)	Item listing agrees with the balance at the last actual month	0	0.5	OK
AR aging: USD clients tie to the ledger (EUR)	Item listing agrees with the balance at the last actual month	0	0.5	OK
AR aging: EUR clients tie to the ledger (EUR)	Item listing agrees with the balance at the last actual month	0	0.5	OK
AP aging: freelancers tie to the Payables schedule		0	0.5	OK
AP aging: media platforms tie to the Payables schedule		0	0.5	OK
AP aging: production suppliers tie to the Payables schedule		0	0.5	OK
AP aging: overheads tie to the Payables schedule		0	0.5	OK
13-week cash forecast reconciles to the monthly balance sheet at 31-Dec-26	Weekly phasing distributes exactly the monthly cash lines	0	0.5	OK
Scenario snapshots are current for the selected scenario	Live column equals the stored snapshot	0	0.5	OK
Budget vs actual net revenue bridge reconciles to the P&L variance	Hours plus rate effects equal the net revenue variance	0	0.5	OK
EBITDA walk from budget to actual reconciles	Variances explain the full EBITDA gap	0	0.5	OK
Trade receivables never negative		520,386.602	0	OK
Trade payables never negative		223,189.0499	0	OK
Freelancer hours never negative (every role, every month)		0	0	OK
Specific provision never negative		0	0	OK
Fixed asset net book value never negative		81,245.1111	0	OK
Bank loan never negative		36,000	0	OK
Timeline: months flagged actual equal the last actual month number		0	0.5	OK

Integrity checks / business warnings
item	note	value
Lowest month-end cash in the forecast (selected scenario)	Below the buffer means a facility draw or action	350,573.4146
Lowest 13-week closing cash		388,080.0518
Lowest forecast delivery utilisation	Below 70% signals idle capacity	0.6206
Largest client share of FY2027 net revenue	Above 15% is a concentration risk	0.1821
Retainer overservicing, FY2026	Above 10% gives margin away	0.1056
Disputed receivable at the last actual month (EUR)	Settlement risk	14,229.0445

Assumptions
type	label	unit	value	note	base	downside	upside	selected	ytd actual reference
scalar	Company name		Kaldmere Studio OÜ (fictional demonstration company)	All figures fictional. Estonian private limited company (osaühing), financial year = calendar year, reporting currency EUR; clients billed in EUR, GBP and USD.
scalar	Reporting currency		EUR
scalar	Model start month (month end)	date	2026-01-31	24 monthly columns from this month
scalar	Last actual month (month end)	date	2026-08-31	Months up to and including this date are actual (fictional ledger); later months are forecast
scalar	Last actual month number	calc	8
scalar	Scenario selector (1 = Base, 2 = Downside, 3 = Upside)	input	3	Change this cell and every forecast month moves. Base = management case; Downside = worst case; Upside = best case.
scalar	Scenario name	calc	Upside
scalar	Minimum cash buffer (board policy)	EUR	350,000	Used by the 13-week cash forecast and the CFO report
scalar	Undrawn overdraft facility available	EUR	300,000	Committed revolving overdraft, undrawn; first lever if the buffer is breached
scalar	Aged receivables and payables: as-at date	calc	2026-08-31
scalar	VAT: standard rate	rate	0.24	From 1-Jul-25 (EMTA, Standard VAT rate). Charged to Estonian clients only: services to EU and non-EU business clients are taxed where the client is established (0% in Estonia, KMD field 3; VAT Act s10)
scalar	Income tax on distributions (22/78 of the net dividend)	rate	0.2821	EMTA: 22% of the gross distribution from 2025, unchanged for 2026; due by the 10th of the month after payment. Retained profit is not taxed.
scalar	Social tax, employer	rate	0.33	EMTA 2026; minimum monthly base EUR 886 (every salary in the model is above it)
scalar	Unemployment insurance, employer	rate	0.008	EMTA: fixed for 2025 to 2028
scalar	Unemployment insurance, employee (withheld)	rate	0.016	EMTA: fixed for 2025 to 2028
scalar	Funded pension, employee (withheld)	rate	0.02	EMTA: 2% default; 4% or 6% by election (model assumes 2% for all staff)
scalar	Income tax withheld on salaries	rate	0.22	EMTA 2026: 22%; the planned rise to 24% did not take effect
scalar	Basic exemption per employee per month	EUR	700	EMTA 2026: EUR 700 a month, no longer tapered by income
scalar	Freelancers: share invoicing with Estonian VAT	share	0.4	VAT-registered Estonian freelancers; input VAT recoverable
scalar	Freelancers: share from other EU countries (reverse charge)	share	0.45	The rest (15%) are individuals below the VAT threshold
scalar	Software: share bought from foreign vendors (reverse charge)	share	0.75	Self-assessed output and input VAT net to zero
scalar	Target utilisation used to set the standard cost rate	share	0.75	Standard cost rate recovers role payroll at this utilisation of productive hours
scalar	Maximum sustainable utilisation (above it work goes to freelancers)	share	0.88
scalar	Average productive hours per FTE per month (Timeline profile)	calc	144.8333
scalar	Rate card, FY2026: strategy and account management (EUR per hour)	EUR/hour	125
scalar	Rate card, FY2026: creative and design (EUR per hour)	EUR/hour	105
scalar	Rate card, FY2026: content, copy and video (EUR per hour)	EUR/hour	90
scalar	Rate card, FY2026: development and qa (EUR per hour)	EUR/hour	115
scalar	Rate card, FY2026: performance marketing (EUR per hour)	EUR/hour	100
scalar	Rate card, FY2026: project and delivery management (EUR per hour)	EUR/hour	95
scalar	Monthly gross salary, FY2026: strategy and account management	EUR	4,600	Average per head for the role
scalar	Monthly gross salary, FY2026: creative and design	EUR	3,900	Average per head for the role
scalar	Monthly gross salary, FY2026: content, copy and video	EUR	3,200	Average per head for the role
scalar	Monthly gross salary, FY2026: development and qa	EUR	4,900	Average per head for the role
scalar	Monthly gross salary, FY2026: performance marketing	EUR	3,700	Average per head for the role
scalar	Monthly gross salary, FY2026: project and delivery management	EUR	3,600	Average per head for the role
scalar	Freelancer cost per hour: strategy and account management	EUR/hour	85
scalar	Freelancer cost per hour: creative and design	EUR/hour	65
scalar	Freelancer cost per hour: content, copy and video	EUR/hour	55
scalar	Freelancer cost per hour: development and qa	EUR/hour	75
scalar	Freelancer cost per hour: performance marketing	EUR/hour	65
scalar	Freelancer cost per hour: project and delivery management	EUR/hour	60
scalar	Standard cost rate, FY2026: strategy and account management (EUR per billable hour)	calc	56.661	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: creative and design (EUR per billable hour)	calc	48.0387	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: content, copy and video (EUR per billable hour)	calc	39.4163	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: development and qa (EUR per billable hour)	calc	60.3563	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: performance marketing (EUR per billable hour)	calc	45.5751	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Standard cost rate, FY2026: project and delivery management (EUR per billable hour)	calc	44.3434	salary x (1 + social tax + UI) / (average productive hours x target utilisation)
scalar	Specialist freelancers per month (illustration, motion, voice-over)	EUR	5,500	Forecast base, inflated from FY2027
scalar	Pay inflation applied from FY2027	rate	0.045	Company assumption for the FY2027 pay review; information needed: the approved review
scalar	Overhead inflation applied from FY2027	rate	0.03
scalar	Bonus accrual rate used in actual months (share of gross pay)	share	0.05	Accrued with employer taxes; paid in March for the prior year
scalar	Recruitment agency fee per hire	EUR	4,500
scalar	Equipment per new hire	EUR	2,600
scalar	IT replacement cycle, capex per month	EUR	2,800
scalar	Office fit-out extension (desks for growth)	EUR	36,000
scalar	Office fit-out extension: month	month	2027-03-31
scalar	Depreciation: IT equipment, useful life	years	3
scalar	Depreciation: office fit-out and furniture, useful life	years	5
scalar	Fixed-fee projects: deposit invoiced at start	share	0.3	Standard terms; the balance on completion
scalar	Fixed-fee projects: interim milestone at the programme mid-point	share	0.4
scalar	Fixed-fee projects: balance invoiced at completion	share	0.3
scalar	GBP per EUR at 31-Dec-25 (ECB reference rate)	rate	0.8726	ECB euro foreign exchange reference rates, 31-Dec-25
scalar	USD per EUR at 31-Dec-25 (ECB reference rate)	rate	1.175	ECB euro foreign exchange reference rates, 31-Dec-25
scalar	Work type	Check	Strategy and account management	Creative and design
scalar	Brand and content retainers	0	0.18	0.32
scalar	Performance retainers	0	0.15	0.12
scalar	Product design and development retainers	0	0.1	0.35
scalar	Fixed-fee projects	0	0.08	0.3
scalar	Time and materials	0	0	0.3
scalar	Media management	0	0.15	0.05
scalar	Freelancers: days payable	days	20	Payment runs on the 15th and at month end
scalar	Media platforms: days payable	days	30	Monthly platform invoices on credit lines, 30 days
scalar	Production suppliers: days payable	days	30
scalar	Overhead suppliers: days payable	days	18
scalar	Bank loan (2025 office fit-out): annual interest rate	rate	0.056
scalar	Bank loan: monthly principal	EUR	3,000	Straight-line to Dec-28
scalar	Dividend on FY2026 profit: month paid	month	2027-06-30	After the FY2026 annual report is approved
scalar	Disputed change request CR-03 (Norbeck Analytics), USD	USD	16,500	Invoiced 29-May-26; 50% provided in June
scenario_driver	Retainer fee change at renewal			Downside = rate pressure at renewal	0.04	0	0.06	0.06
scenario_driver	Retainer overservicing vs the YTD level of each client	x		Base: scope reset at the October reviews removes 30% of the overservicing	0.7	1	0.5	0.5
scenario_driver	Overservicing on retainers with no history yet				0.1	0.2	0.08	0.08	0.1286
scenario_driver	Start delay: contracted and pipeline projects	months			0	2	0	0
scenario_driver	Overrun on remaining project hours			Applied to the estimate to complete at the last actual month	0	0.15	-0.05	-0.05
scenario_driver	Time and materials demand factor	x			1	0.9	1.1	1.1
scenario_driver	Time and materials write-off: change vs YTD				0	0.04	-0.02	-0.02
scenario_driver	Client media spend factor	x			1	0.9	1.1	1.1
scenario_driver	Rate card and hourly rates change, FY2027				0.04	0	0.06	0.06
scenario_driver	GBP and USD vs EUR from the last actual month-end (+ = weaker pound and dollar)			Forecast rate = last actual ECB month-end rate x (1 + shift)	0	0.04	-0.03	-0.03
scenario_driver	Clients: extra days to collect	days			0	15	0	0	32.4522
scenario_driver	Delivery hiring plan (1 = as planned, 0 = freeze)	flag			1	0	1	1
scenario_driver	Head of delivery hire (1 = as planned, 0 = freeze)	flag			1	0	1	1
scenario_driver	Bonus accrual rate, forecast months				0.05	0	0.06	0.06	0.05
scenario_driver	Delivery capacity cut after losing the top client (FTE, spread across roles)	FTE		Management response in the Downside: notice given in January, leavers off payroll from the month below	0	4	0	0
scenario_driver	Capacity cut: first month without the leavers	month		Redundancy compensation of one month average wage paid in that month (Employment Contracts Act s100); notice of 15 to 90 days by tenure (s97)	2027-03-31	2027-03-31	2027-03-31	2027-03-31
scenario_driver	Discretionary overheads factor (travel, new business, training)	x			1	0.85	1	1
scenario_driver	Dividend on FY2026 profit (share of net profit, paid Jun-27)				0.5	0	0.6	0.6
scenario_driver	Disputed CR-03: share recovered				0.5	0	0.8	0.8
scenario_driver	Disputed CR-03: month of settlement	month			2026-11-30	2027-02-28	2026-10-31	2026-10-31

INPUTS: ACTUAL MONTHS (FICTIONAL LEDGER, TIMESHEETS, PAYROLL, CRM AND BANK)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	FY2026
GBP per EUR, monthly average	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB (derived)	0.8694	0.8712	0.8723	0.8673	0.8667	0.8645	0.8588	0.8561	0.8658
GBP per EUR, month end	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB	0.8662	0.8763	0.8683	0.8662	0.8672	0.8618	0.8557	0.8565	0
USD per EUR, monthly average	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB (derived)	1.1834	1.1862	1.1651	1.16	1.1673	1.1519	1.144	1.1541	1.164
USD per EUR, month end	FOREIGN EXCHANGE: ECB REFERENCE RATES (units per EUR). Month end = ECB rate on the last business day; average = mean of opening and closing month-end rates	ECB	1.1919	1.1805	1.1498	1.1702	1.1644	1.1394	1.1485	1.1596	0
R-HAL: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	336,000
R-HAL: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	514.8	496.4	508.5	486.3	483.1	490.1	489.4	494.7	3,963.3
R-HAL: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	42,000	42,000	42,000	42,000	42,000	42,000	42,000	42,000	336,000
R-THV: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	120,000
R-THV: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	197.3	199.6	191.4	197	191.6	200.9	199.6	205.1	1,582.5
R-THV: invoiced (quarterly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	45,000	0	0	45,000	0	0	45,000	0	135,000
R-RVM: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	144,000
R-RVM: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	209.5	214	205.8	214.7	207.3	195.5	216.4	199.9	1,663.1
R-RVM: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	18,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000	144,000
R-PEL: retainer fee recognised (GBP)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	0	0	0	0	0	11,500	11,500	11,500	34,500
R-PEL: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	0	0	0	0	0	153.2	146.2	148.3	447.7
R-PEL: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	0	0	0	0	0	11,500	11,500	11,500	34,500
R-QFS: retainer fee recognised (USD)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	0	0	0	26,000	26,000	26,000	26,000	26,000	130,000
R-QFS: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	0	0	0	251.1	255.8	244.2	240.5	235.1	1,226.7
R-QFS: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	0	0	0	26,000	26,000	26,000	26,000	26,000	130,000
R-HOC: retainer fee recognised (USD)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	88,000
R-HOC: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	95.2	98.3	102.8	107.6	110.5	94.7	104.2	102.6	815.9
R-HOC: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	11,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	88,000
R-VOL: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	148,000
R-VOL: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	245.6	240.6	251	231.6	238.5	233.5	245.4	234.3	1,920.5
R-VOL: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	148,000
R-LIN: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	16,000	16,000	16,000	16,000	16,000	16,000	16,000	16,000	128,000
R-LIN: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	178.1	172.8	166.2	163.9	177	178.5	180.7	168.5	1,385.7
R-LIN: invoiced (quarterly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	48,000	0	0	48,000	0	0	48,000	0	144,000
R-VDH: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	112,000
R-VDH: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	161.4	155	163.4	151.2	153.9	147.7	157.4	159.2	1,249.2
R-VDH: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	14,000	14,000	14,000	14,000	14,000	14,000	14,000	14,000	112,000
R-SRV: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	108,000
R-SRV: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	173.7	166.3	168.2	171.9	166.6	163.6	160.1	174.5	1,344.9
R-SRV: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	13,500	13,500	13,500	13,500	13,500	13,500	13,500	13,500	108,000
R-TAM: retainer fee recognised (EUR)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	ledger	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	72,000
R-TAM: hours worked	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	timesheets	104	95.3	100.5	104.8	99.5	102.4	96.2	102.7	805.4
R-TAM: invoiced (monthly in advance)	RETAINERS (invoice currency): fees recognised, hours worked per timesheets, invoices raised	sales ledger	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	72,000
P-2505: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	133.4	51.6	0	0	0	0	0	0	185
P-2505: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate	51.6	0	0	0	0	0	0	0
P-2505: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract	74,000	74,000	74,000	74,000	74,000	74,000	74,000	74,000
P-2505: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	10,258.69	4,833.42	0	0	0	0	0	0	15,092.11
P-2505: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	22,200	0	0	0	0	0	0	22,200
P-2506: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	255.6	228.2	150.5	58.9	0	0	0	0	693.2
P-2506: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate	387.6	209.4	58.9	0	0	0	0	0
P-2506: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract	120,000	120,000	120,000	120,000	120,000	120,000	120,000	120,000
P-2506: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	24,537.6	17,880.37	13,892.31	5,436.92	0	0	0	0	61,747.2
P-2506: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	48,000	0	0	36,000	0	0	0	0	84,000
P-2507: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	246.3	156.6	91.3	0	0	0	0	0	494.2
P-2507: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate	247.9	91.3	0	0	0	0	0	0
P-2507: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract	95,000	95,000	95,000	95,000	95,000	95,000	95,000	95,000
P-2507: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	23,398.5	14,877	8,673.5	0	0	0	0	0	46,949
P-2507: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	38,000	0	28,500	0	0	0	0	0	66,500
P-2601: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	74.8	229.1	313.3	455.4	504.2	476.8	433.7	2,487.3
P-2601: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate		2,225.2	1,996.1	1,682.8	1,527.4	1,173.2	846.4	462.7
P-2601: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract		210,000	210,000	210,000	226,500	226,500	226,500	226,500
P-2601: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	6,829.57	20,917.82	28,605.65	37,086.92	36,431.02	30,522.26	30,580.81	190,974.05
P-2601: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	63,000	0	0	16,500	67,500	0	0	147,000
P-2602: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	78.3	213.1	292.9	358.3	302.7	164.3	1,409.6
P-2602: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate			1,371.7	1,158.6	865.7	557.4	254.7	90.4
P-2602: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract			145,000	145,000	145,000	145,000	145,000	145,000
P-2602: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	7,830	21,310	29,290	32,688	29,261	15,882.33	136,261.33
P-2602: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	43,500	0	0	58,000	0	0	101,500
P-2603: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	0	0	70.7	181.2	198.1	271.6	721.6
P-2603: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate					889.3	708.1	510	268.4
P-2603: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract					96,000	96,000	96,000	96,000
P-2603: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	0	0	7,070	18,120	19,810	24,973.33	69,973.33
P-2603: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	0	0	28,800	0	0	38,400	67,200
P-2604: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	0	0	0	42.2	103.6	129.6	275.4
P-2604: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate						517.8	414.2	284.6
P-2604: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract						56,000	56,000	56,000
P-2604: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	0	0	0	4,220	10,360	12,960	27,540
P-2604: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	0	0	0	16,800	0	0	16,800
P-2604: third-party production cost (EUR)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	purchase ledger	0	0	0	0	0	0	4,200	5,600	9,800
P-2605: hours worked	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	timesheets	0	0	0	0	0	0	77.5	204.4	281.9
P-2605: estimate to complete at month end (hours)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	project manager estimate							722.5	518.1
P-2605: contract value in force (incl. approved change requests)	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	contract							85,000	85,000
P-2605: fee revenue recognised	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	ledger (percentage of completion)	0	0	0	0	0	0	8,234.38	21,717.5	29,951.88
P-2605: fee invoiced	FIXED-FEE PROJECTS (invoice currency; production costs in EUR)	sales ledger	0	0	0	0	0	0	25,500	0	25,500
ASH: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	257.5	224.5	222.5	190.7	206.7	215.2	169	246.3	1,732.4
ASH: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	19,620.6	139,474.12
ASH: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	14,195.39	20,552.13	18,117.63	18,587.41	14,873.54	16,332.79	17,728.04	13,661.98	134,048.91
CAR: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	0	0	96.2	91.5	99.9	86.4	64.5	90.6	529.1
CAR: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	8,314.49	48,915.6
CAR: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	0	0	0	8,708.37	8,391.83	9,298.68	8,274.35	5,927.88	40,601.11
TWL: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	0	0	0	0	0	0	0	0	0
TWL: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	0	0	0	0	0	0	0	0	0
TWL: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	0	0	0	0	0	0	0	0	0
OTH: time and materials hours	TIME AND MATERIALS AND MEDIA (invoice currency)	timesheets	115.9	109.7	133.7	145	113.4	121.3	95.8	99	933.8
OTH: time and materials revenue (after write-offs)	TIME AND MATERIALS AND MEDIA (invoice currency)	ledger	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	7,732.64	74,612.99
OTH: time and materials invoiced (prior month work)	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	7,861.33	9,664.16	8,800.24	10,139.03	11,354.68	9,303.4	9,936.04	7,682.8	74,741.68
THV: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	51,747.62	47,739.56	53,342.71	62,071.92	56,242.76	49,248.69	47,988.9	60,015.23	428,397.39
THV: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	5,174.76	4,773.96	5,334.27	6,207.19	5,624.28	4,924.87	4,798.89	6,001.52	42,839.74
HOC: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	67,663.78	69,211.3	83,017.1	87,696.66	93,777.15	86,148.17	89,944.71	90,265.44	667,724.31
HOC: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	6,089.74	6,229.02	7,471.54	7,892.7	8,439.94	7,753.34	8,095.02	8,123.89	60,095.19
LIN: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	36,651.48	36,033.18	37,761.67	41,489.22	37,868.66	40,561.35	35,029.41	35,093.95	300,488.92
LIN: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	3,665.15	3,603.32	3,776.17	4,148.92	3,786.87	4,056.14	3,502.94	3,509.39	30,048.9
TAM: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	17,814.1	19,471.68	20,102.78	21,367.75	20,600.91	21,373.1	20,230.83	21,912.78	162,873.93
TAM: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	2,137.69	2,336.6	2,412.33	2,564.13	2,472.11	2,564.77	2,427.7	2,629.53	19,544.86
VDH: media spend rebilled at cost	TIME AND MATERIALS AND MEDIA (invoice currency)	platform statements	26,297.13	26,644.31	28,793.82	30,973.38	31,211.42	29,702.68	24,993.32	24,881.93	223,497.99
VDH: media management fee	TIME AND MATERIALS AND MEDIA (invoice currency)	sales ledger	2,629.71	2,664.43	2,879.38	3,097.34	3,121.14	2,970.27	2,499.33	2,488.19	22,349.79
HAL: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	41,018.64	84,117.35	42,294.42	66,531.52	43,620.08	49,695.84	41,559.96	61,230.8	430,068.61
THV: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	68,870.03	100,682.27	53,418.87	52,918.66	120,402.2	65,730.95	54,774.75	98,750.33	615,548.06
PEL: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	0	0	-276.45	12,029.94	10,077.43	21,830.92
ASH: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	17,042.51	16,709.45	18,134.38	19,624.88	16,268.18	17,166.74	18,356.48	13,913.57	137,216.19
TWL: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	6,145.72	37,354.28	0	-720.54	58,720.54	0	101,500
RVM: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	23,008.3	62,068.25	18,299.53	20,094.93	49,958.26	18,207.37	20,703.32	17,431.82	229,771.78
MAR: cash received (GBP)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	0	0	-1,898.27	18,401.35	4,729.32	21,232.4
QFS: cash received (USD)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	-6,422.24	21,362.46	22,766.7	25,566.49	29,807.61	93,081.02
HOC: cash received (USD)	CLIENT RECEIPTS (bank, invoice currency)	bank	108,093.63	151,952.1	73,474.85	104,268.91	101,484.01	78,717.88	134,762.36	89,911.9	842,665.64
NOR: cash received (USD)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	-6,791.25	42,203.85	27,587.4	0	-3,568.35	39,681.55	31,386.8	130,500
VOL: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	20,421.71	15,239.5	21,514.74	16,125.73	17,698.39	22,496.94	15,114.98	18,315.87	146,927.86
LIN: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	48,155.13	96,637.13	31,469.7	42,108.42	85,084.95	47,633.69	46,522.02	93,369.04	490,980.08
VDH: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	51,045.39	48,141.74	38,125.32	40,889.24	50,424.69	52,689.94	43,750.92	48,310.61	373,377.85
VLM: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	0	0	0	-733.15	29,533.15	0	2,725.74	31,525.74
SRV: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	14,979.91	12,244.86	14,849.75	12,379.78	13,716.36	13,234.24	13,589.08	12,458.29	107,452.27
CAR: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	0	1,693.13	20,506.87	-317.13	9,866.63	8,030.82	9,454.63	7,698.71	56,933.66
TAM: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	41,393.15	34,546.01	45,393.93	39,731.77	36,699.01	41,232.45	41,933.12	37,332.35	318,261.79
OTH: cash received (EUR)	CLIENT RECEIPTS (bank, invoice currency)	bank	10,312.08	10,085.46	13,003.59	10,502.26	14,112.37	13,182.28	11,892.02	10,172.21	93,262.27
Headcount: strategy and account management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	5	5	5	5	5	5	5	5	5
Headcount: creative and design	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	9	9	9	9	8	8	9	9	8.75
Headcount: content, copy and video	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	5	5	5	5	4	4	4	4	4.5
Headcount: development and qa	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	7	7	7	8	8	8	8	8	7.625
Headcount: performance marketing	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	4	4	4	4	4	4	4	4	4
Headcount: project and delivery management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	payroll	3	3	3	3	3	3	3	3	3
Billable hours worked by own staff: strategy and account management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	351.7	336	341.9	365.9	385.4	430.3	440	443.1	3,094.3
Billable hours worked by own staff: creative and design	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	830.3	771.1	822	904.6	970.9	984.5	885.2	1,059.8	7,228.4
Billable hours worked by own staff: content, copy and video	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	317.6	305.6	310.4	308	320.1	385.2	390.8	396.2	2,733.9
Billable hours worked by own staff: development and qa	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	835.2	753	841.8	948.6	1,039.6	980.4	763.6	960.9	7,123.1
Billable hours worked by own staff: performance marketing	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	504.6	494.9	501.3	498.1	505.4	496.4	389.6	483.2	3,873.5
Billable hours worked by own staff: project and delivery management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	timesheets	293.6	267.8	286.7	312.1	346.1	366.5	296.9	352.6	2,522.3
Billable hours worked by freelancers: strategy and account management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.097	0.066	0.059	0.099	0.031	0.013	0.085	0.054	0.504
Billable hours worked by freelancers: creative and design	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.021	0.058	0.075	0.095	0.072	109	209.691	77.559	396.571
Billable hours worked by freelancers: content, copy and video	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.006	0.017	0.047	0.015	0.012	0.044	0.095	0.04	0.276
Billable hours worked by freelancers: development and qa	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.099	0.099	0.057	0.006	0.071	170.364	369.008	247.383	787.087
Billable hours worked by freelancers: performance marketing	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.017	0	0.007	0.035	0.029	2.439	117.601	21.194	141.322
Billable hours worked by freelancers: project and delivery management	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	freelancer timesheets	0.06	0.06	0.055	0.05	0.085	32.94	106.52	67.37	207.14
Freelancer cost (ex VAT)	DELIVERY TEAM: HEADCOUNT, TIMESHEETS AND FREELANCERS	purchase ledger	5,062.83	5,921.18	5,125.2	6,532.51	5,209.98	25,536.25	59,683.52	32,476.4	145,547.87
Delivery team gross pay	PAYROLL	payroll	133,124	132,557	134,790	139,333	132,804	132,502	136,778	137,521	1,079,409
Leadership, new business and operations gross pay	PAYROLL	payroll	24,576	24,425	24,105	24,554	24,215	24,402	24,337	24,453	195,067
Leadership, new business and operations headcount	PAYROLL	payroll	5	5	5	5	5	5	5	5	5
Prior-year bonus paid (provision utilised, incl. employer taxes)	PAYROLL	payroll	0	0	131,500	0	0	0	0	0	131,500
Rent and service charges, Tallinn office	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	9,198	10,089	10,207	9,251	8,699	9,141	9,100	9,186	74,871
Software and tools	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	6,492	6,219	6,515	6,180	6,716	6,127	6,748	6,413	51,410
Client travel (UK, US, EU)	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	3,394	6,861	6,969	6,196	6,591	4,368	2,245	3,033	39,657
New business, awards and events	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,068	3,304	3,646	4,548	9,013	4,228	1,510	2,581	30,898
Recruitment	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	800	800	5,300	800	800	800	5,300	800	15,400
Training and conferences	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,451	2,109	1,927	2,264	2,331	2,140	2,328	2,224	17,774
Accounting, legal and professional fees	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,542	2,755	2,762	2,741	2,746	2,612	2,401	2,568	21,127
Insurance (professional indemnity, cyber)	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	892	811	940	894	821	944	798	828	6,928
Office and administration	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	2,141	2,044	1,753	2,033	1,969	1,948	2,051	1,806	15,745
IT support and equipment leases	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	1,684	1,670	2,012	1,831	2,054	2,015	1,685	2,113	15,064
Bank, payment and FX charges	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	1,283	978	1,053	1,177	1,138	1,127	1,120	1,028	8,904
Specific provision charged (bad debts)	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	ledger	0	0	0	0	0	7,240.65	0	0	7,240.65
Capex: IT equipment	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	asset register	2,600	1,400	3,100	5,200	900	2,400	4,800	1,600	22,000
Capex: office fit-out and furniture	OVERHEADS (ex VAT), BAD DEBTS AND CAPEX	asset register	0	0	0	0	0	0	0	0	0
Freelancers: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	23,309.71	5,812.3	6,536.96	6,054.52	6,387.02	11,482.73	38,207.84	57,873.22	155,664.3
Media platforms: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	160,513.37	194,305.35	194,859.5	210,132.63	243,567.19	255,796.31	232,273.71	187,582.6	1,679,030.66
Production suppliers: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	0	0	0	0	0	0	16.72	5,223.94	5,240.66
Overhead suppliers: payments	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank	37,789.4	41,784.96	41,958.93	53,072.1	46,559.27	45,029.6	39,146.74	40,085.85	345,426.85
Dividends paid (net)	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	bank, shareholder resolution	0	0	0	0	0	280,000	0	0	280,000
Income tax on distributions (22/78 of the dividend)	SUPPLIER PAYMENTS, DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS (bank)	TSD annex 7	0	0	0	0	0	78,974.36	0	0	78,974.36

INPUTS: ACTUAL MONTHS (FICTIONAL LEDGER, TIMESHEETS, PAYROLL, CRM AND BANK)
label	basis	section	format	kind	bold	value c
Cash at bank	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	486,000
Prepayments and deposits	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	38,000
IT equipment: cost	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	142,000
IT equipment: accumulated depreciation	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	78,000
Office fit-out and furniture: cost	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	118,000
Office fit-out and furniture: accumulated depreciation	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	41,000
Trade payables: freelancers	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	21,400
Trade payables: media platforms	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	158,000
Trade payables: production suppliers	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	0
Trade payables: overhead suppliers	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	24,300
Payroll taxes payable (December TSD)	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	86,983.07
VAT payable (December return)	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	3,800
Bonus provision (FY2025, incl. employer taxes)	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	131,500
Bank loan	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	108,000
Income tax on distributions payable	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	0
Share capital	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	2,600
Retained earnings	FY25 accounts	OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional); client openings are on Client_Register	int	input	False	775,512.01

OVERHEADS (EUR, ex VAT)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Rent and service charges, Tallinn office	OVERHEAD LINES	A: ledger; F: base x inflation	9,198	10,089	10,207	9,251	8,699	9,141	9,100	9,186	9,400	9,400	9,400	9,400	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	9,682	112,471	116,184
Software and tools	OVERHEAD LINES	A: ledger; F: base x inflation	6,492	6,219	6,515	6,180	6,716	6,127	6,748	6,413	6,500	6,500	6,500	6,500	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	6,695	77,410	80,340
Client travel (UK, US, EU)	OVERHEAD LINES	A: ledger; F: base x inflation x discretionary factor	3,394	6,861	6,969	6,196	6,591	4,368	2,245	3,033	5,100	5,100	5,100	5,100	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	5,253	60,057	63,036
New business, awards and events	OVERHEAD LINES	A: ledger; F: base x inflation x discretionary factor	2,068	3,304	3,646	4,548	9,013	4,228	1,510	2,581	3,700	3,700	3,700	3,700	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	3,811	45,698	45,732
Recruitment	OVERHEAD LINES	A: ledger; F: base x inflation	800	800	5,300	800	800	800	5,300	800	800	5,300	5,300	800	3,524	824	3,299	5,324	824	824	824	824	824	824	824	824	27,600	19,563
Training and conferences	OVERHEAD LINES	A: ledger; F: base x inflation x discretionary factor	2,451	2,109	1,927	2,264	2,331	2,140	2,328	2,224	2,200	2,200	2,200	2,200	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	2,266	26,574	27,192
Accounting, legal and professional fees	OVERHEAD LINES	A: ledger; F: base x inflation	2,542	2,755	2,762	2,741	2,746	2,612	2,401	2,568	2,600	2,600	2,600	2,600	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	2,678	31,527	32,136
Insurance (professional indemnity, cyber)	OVERHEAD LINES	A: ledger; F: base x inflation	892	811	940	894	821	944	798	828	900	900	900	900	927	927	927	927	927	927	927	927	927	927	927	927	10,528	11,124
Office and administration	OVERHEAD LINES	A: ledger; F: base x inflation	2,141	2,044	1,753	2,033	1,969	1,948	2,051	1,806	2,100	2,100	2,100	2,100	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	2,163	24,145	25,956
IT support and equipment leases	OVERHEAD LINES	A: ledger; F: base x inflation	1,684	1,670	2,012	1,831	2,054	2,015	1,685	2,113	1,900	1,900	1,900	1,900	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	1,957	22,664	23,484
Bank, payment and FX charges	OVERHEAD LINES	A: ledger; F: base x inflation	1,283	978	1,053	1,177	1,138	1,127	1,120	1,028	1,150	1,150	1,150	1,150	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	1,184.5	13,504	14,214
TOTAL OVERHEADS	OVERHEAD LINES		32,945	37,640	43,084	37,915	42,878	35,450	35,286	32,580	36,350	40,850	40,850	36,350	40,140.5	37,440.5	39,915.5	41,940.5	37,440.5	37,440.5	37,440.5	37,440.5	37,440.5	37,440.5	37,440.5	37,440.5	452,178	458,961
Overheads bearing Estonian input VAT	OVERHEAD LINES	line x VAT share	21,453.6	23,400.6	28,244.6	23,444	25,975.15	22,737.75	25,096.35	21,636.6	22,950	27,450	27,450	22,950	26,338.5	23,638.5	26,113.5	28,138.5	23,638.5	23,638.5	23,638.5	23,638.5	23,638.5	23,638.5	23,638.5	23,638.5	292,788.65	293,337
Software bought from foreign vendors (reverse charge base)	OVERHEAD LINES	software x reverse charge share	4,869	4,664.25	4,886.25	4,635	5,037	4,595.25	5,061	4,809.75	4,875	4,875	4,875	4,875	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	5,021.25	58,057.5	60,255

OVERHEADS (EUR, ex VAT)
label	basis	section	format	kind	bold	value c	value d
Rent and service charges, Tallinn office	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	9,400	1
Software and tools	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	6,500	0.25
Client travel (UK, US, EU) (discretionary)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	5,100	0.15
New business, awards and events (discretionary)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	3,700	0.6
Recruitment	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	800	1
Training and conferences (discretionary)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	2,200	0.7
Accounting, legal and professional fees	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	2,600	1
Insurance (professional indemnity, cyber)	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	900	0
Office and administration	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	2,100	1
IT support and equipment leases	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	1,900	1
Bank, payment and FX charges	monthly base; VAT share	FORECAST MONTHLY BASE (C = EUR per month at FY2026 prices; D = share bearing Estonian input VAT)	int	input	False	1,150	0

VAT (MONTHLY KMD RETURN, DUE BY THE 20TH)
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Estonian clients (24%)	OUTPUT VAT	FX	8,835.1488	9,713.3856	9,675.684	10,337.0184	10,422.648	10,137.9048	9,982.6968	9,894.0264	10,520.7936	12,140.4781	13,873.9974	12,683.6948	9,609.2214	10,308.6826	10,812.9377	11,349.3554	11,197.734	10,888.7484	10,043.345	9,859.561	10,932.3965	11,967.3266	13,625.9707	12,471.5818	128,217.4767	133,066.8611
Reverse charge on services received from abroad	OUTPUT VAT	(media + foreign freelancers + foreign software) x 24%	49,105.4586	48,628.6454	54,300.5022	59,658.1246	58,149.4285	57,475.0592	59,203.4039	59,911.5027	65,260.6284	70,941.8597	86,664.1006	77,230.7561	55,034.6089	55,034.6089	60,542.0652	62,938.4384	62,863.4126	60,046.0162	56,211.0638	55,821.3925	61,702.3452	67,109.1967	81,946.3255	73,135.5971	746,529.4699	752,385.0709
Total output VAT	OUTPUT VAT		57,940.6074	58,342.031	63,976.1862	69,995.143	68,572.0765	67,612.964	69,186.1007	69,805.5291	75,781.422	83,082.3378	100,538.098	89,914.4509	64,643.8303	65,343.2914	71,355.0029	74,287.7938	74,061.1466	70,934.7646	66,254.4088	65,680.9534	72,634.7417	79,076.5234	95,572.2963	85,607.1788	874,746.9466	885,451.932
Reverse charge (same amount as output)	INPUT VAT (recoverable)		49,105.4586	48,628.6454	54,300.5022	59,658.1246	58,149.4285	57,475.0592	59,203.4039	59,911.5027	65,260.6284	70,941.8597	86,664.1006	77,230.7561	55,034.6089	55,034.6089	60,542.0652	62,938.4384	62,863.4126	60,046.0162	56,211.0638	55,821.3925	61,702.3452	67,109.1967	81,946.3255	73,135.5971	746,529.4699	752,385.0709
Overheads	INPUT VAT (recoverable)		5,148.864	5,616.144	6,778.704	5,626.56	6,234.036	5,457.06	6,023.124	5,192.784	5,508	6,588	6,588	5,508	6,321.24	5,673.24	6,267.24	6,753.24	5,673.24	5,673.24	5,673.24	5,673.24	5,673.24	5,673.24	5,673.24	5,673.24	70,269.276	70,400.88
Estonian freelancers	INPUT VAT (recoverable)		486.0317	568.4333	492.0192	627.121	500.1581	2,451.48	5,729.6179	3,117.7344	1,068.1467	528	528	528	551.76	551.76	551.76	711.6859	644.9963	848.7636	3,654.1563	646.6034	551.76	551.76	551.76	633.1367	16,624.7422	10,449.9022
Production suppliers	INPUT VAT (recoverable)		0	0	0	0	0	0	1,008	1,344	1,610.3333	2,848.3333	2,624.3333	1,125	0	0	0	0	0	0	0	0	0	0	0	0	10,560	0
Capex	INPUT VAT (recoverable)		624	336	744	1,248	216	576	1,152	384	672	1,296	1,296	672	1,076.64	702.24	9,685.44	1,326.24	702.24	702.24	702.24	702.24	702.24	702.24	702.24	702.24	9,216	18,408.48
Total input VAT	INPUT VAT (recoverable)		55,364.3543	55,149.2226	62,315.2254	67,159.8056	65,099.6226	65,959.5992	73,116.1458	69,950.0211	74,119.1085	82,202.1931	97,700.4339	85,063.7561	62,984.2489	61,961.8489	77,046.5052	71,729.6043	69,883.8889	67,270.2597	66,240.7001	62,843.4758	68,629.5852	74,036.4367	88,873.5655	80,144.2138	853,199.4881	851,644.3331
Net VAT for the month (output - input)	VAT PAYABLE / (RECOVERABLE)		2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-144.492	1,662.3136	880.1448	2,837.6641	4,850.6948	1,659.5814	3,381.4426	-5,691.5023	2,558.1895	4,177.2577	3,664.5048	13.7087	2,837.4776	4,005.1565	5,040.0866	6,698.7307	5,462.965	21,547.4585	33,807.5988
Opening VAT payable / (recoverable)	VAT PAYABLE / (RECOVERABLE)		3,800	2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-4,074.5371	1,517.8216	880.1448	2,837.6641	4,850.6948	1,659.5814	3,381.4426	-5,691.5023	-3,133.3128	4,177.2577	3,664.5048	13.7087	2,837.4776	4,005.1565	5,040.0866	6,698.7307
Paid: prior month net payable (20th)	VAT PAYABLE / (RECOVERABLE)		-3,800	-2,576.2531	-3,192.8083	-1,660.9608	-2,835.3374	-3,472.4539	-1,653.3648	0	0	-1,662.3136	-880.1448	-2,837.6641	-4,850.6948	-1,659.5814	-3,381.4426	0	-2,558.1895	-4,177.2577	-3,664.5048	-13.7087	-2,837.4776	-4,005.1565	-5,040.0866	-6,698.7307	-24,571.3008	-38,886.8309
Credited: net refund of two months earlier, offset against TSD (10th)	VAT PAYABLE / (RECOVERABLE)		0	0	0	0	0	0	0	0	3,930.0451	144.492	0	0	0	0	0	0	5,691.5023	0	0	0	0	0	0	0	4,074.5371	5,691.5023
CLOSING VAT PAYABLE / (RECOVERABLE)	VAT PAYABLE / (RECOVERABLE)		2,576.2531	3,192.8083	1,660.9608	2,835.3374	3,472.4539	1,653.3648	-3,930.0451	-4,074.5371	1,517.8216	880.1448	2,837.6641	4,850.6948	1,659.5814	3,381.4426	-5,691.5023	-3,133.3128	4,177.2577	3,664.5048	13.7087	2,837.4776	4,005.1565	5,040.0866	6,698.7307	5,462.965	4,850.6948	5,462.965

FIXED ASSETS AND DEPRECIATION
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Cost: opening	IT EQUIPMENT		142,000	144,600	146,000	149,100	154,300	155,200	157,600	162,400	164,000	166,800	172,200	177,600	180,400	184,886	187,812	192,168	197,694	200,620	203,546	206,472	209,398	212,324	215,250	218,176
Additions	IT EQUIPMENT	A: asset register; F: capex plan	2,600	1,400	3,100	5,200	900	2,400	4,800	1,600	2,800	5,400	5,400	2,800	4,486	2,926	4,356	5,526	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	38,400	40,702
Cost: closing	IT EQUIPMENT		144,600	146,000	149,100	154,300	155,200	157,600	162,400	164,000	166,800	172,200	177,600	180,400	184,886	187,812	192,168	197,694	200,620	203,546	206,472	209,398	212,324	215,250	218,176	221,102	180,400	221,102
Accumulated depreciation: opening	IT EQUIPMENT		78,000	82,016.6667	86,072.2222	90,213.8889	94,500	98,811.1111	103,188.8889	107,700	112,255.5556	116,888.8889	121,672.2222	126,605.5556	131,616.6667	136,752.3889	141,969.3889	147,307.3889	152,798.8889	158,371.6667	164,025.7222	169,761.0556	175,577.6667	181,475.5556	187,454.7222	193,515.1667
Depreciation charge	IT EQUIPMENT	min(NBV, cost / life)	4,016.6667	4,055.5556	4,141.6667	4,286.1111	4,311.1111	4,377.7778	4,511.1111	4,555.5556	4,633.3333	4,783.3333	4,933.3333	5,011.1111	5,135.7222	5,217	5,338	5,491.5	5,572.7778	5,654.0556	5,735.3333	5,816.6111	5,897.8889	5,979.1667	6,060.4444	6,141.7222	53,616.6667	68,040.2222
Accumulated depreciation: closing	IT EQUIPMENT		82,016.6667	86,072.2222	90,213.8889	94,500	98,811.1111	103,188.8889	107,700	112,255.5556	116,888.8889	121,672.2222	126,605.5556	131,616.6667	136,752.3889	141,969.3889	147,307.3889	152,798.8889	158,371.6667	164,025.7222	169,761.0556	175,577.6667	181,475.5556	187,454.7222	193,515.1667	199,656.8889	131,616.6667	199,656.8889
Net book value	IT EQUIPMENT		62,583.3333	59,927.7778	58,886.1111	59,800	56,388.8889	54,411.1111	54,700	51,744.4444	49,911.1111	50,527.7778	50,994.4444	48,783.3333	48,133.6111	45,842.6111	44,860.6111	44,895.1111	42,248.3333	39,520.2778	36,710.9444	33,820.3333	30,848.4444	27,795.2778	24,660.8333	21,445.1111	48,783.3333	21,445.1111
Cost: opening	OFFICE FIT-OUT AND FURNITURE		118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000
Additions	OFFICE FIT-OUT AND FURNITURE	A: asset register; F: capex plan	0	0	0	0	0	0	0	0	0	0	0	0	0	0	36,000	0	0	0	0	0	0	0	0	0	0	36,000
Cost: closing	OFFICE FIT-OUT AND FURNITURE		118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	118,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	154,000	118,000	154,000
Accumulated depreciation: opening	OFFICE FIT-OUT AND FURNITURE		41,000	42,966.6667	44,933.3333	46,900	48,866.6667	50,833.3333	52,800	54,766.6667	56,733.3333	58,700	60,666.6667	62,633.3333	64,600	66,566.6667	68,533.3333	71,100	73,666.6667	76,233.3333	78,800	81,366.6667	83,933.3333	86,500	89,066.6667	91,633.3333
Depreciation charge	OFFICE FIT-OUT AND FURNITURE	min(NBV, cost / life)	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	1,966.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	2,566.6667	23,600	29,600
Accumulated depreciation: closing	OFFICE FIT-OUT AND FURNITURE		42,966.6667	44,933.3333	46,900	48,866.6667	50,833.3333	52,800	54,766.6667	56,733.3333	58,700	60,666.6667	62,633.3333	64,600	66,566.6667	68,533.3333	71,100	73,666.6667	76,233.3333	78,800	81,366.6667	83,933.3333	86,500	89,066.6667	91,633.3333	94,200	64,600	94,200
Net book value	OFFICE FIT-OUT AND FURNITURE		75,033.3333	73,066.6667	71,100	69,133.3333	67,166.6667	65,200	63,233.3333	61,266.6667	59,300	57,333.3333	55,366.6667	53,400	51,433.3333	49,466.6667	82,900	80,333.3333	77,766.6667	75,200	72,633.3333	70,066.6667	67,500	64,933.3333	62,366.6667	59,800	53,400	59,800
Capex	TOTAL		2,600	1,400	3,100	5,200	900	2,400	4,800	1,600	2,800	5,400	5,400	2,800	4,486	2,926	40,356	5,526	2,926	2,926	2,926	2,926	2,926	2,926	2,926	2,926	38,400	76,702
Depreciation	TOTAL		5,983.3333	6,022.2222	6,108.3333	6,252.7778	6,277.7778	6,344.4444	6,477.7778	6,522.2222	6,600	6,750	6,900	6,977.7778	7,102.3889	7,183.6667	7,904.6667	8,058.1667	8,139.4444	8,220.7222	8,302	8,383.2778	8,464.5556	8,545.8333	8,627.1111	8,708.3889	77,216.6667	97,640.2222
NET BOOK VALUE (to balance sheet)	TOTAL		137,616.6667	132,994.4444	129,986.1111	128,933.3333	123,555.5556	119,611.1111	117,933.3333	113,011.1111	109,211.1111	107,861.1111	106,361.1111	102,183.3333	99,566.9444	95,309.2778	127,760.6111	125,228.4444	120,015	114,720.2778	109,344.2778	103,887	98,348.4444	92,728.6111	87,027.5	81,245.1111	102,183.3333	81,245.1111

BANK LOAN, DIVIDENDS, INCOME TAX ON DISTRIBUTIONS AND THE OVERDRAFT FACILITY
Measure	Section	Basis	2026-01 A	2026-02 A	2026-03 A	2026-04 A	2026-05 A	2026-06 A	2026-07 A	2026-08 A	2026-09 F	2026-10 F	2026-11 F	2026-12 F	2027-01 F	2027-02 F	2027-03 F	2027-04 F	2027-05 F	2027-06 F	2027-07 F	2027-08 F	2027-09 F	2027-10 F	2027-11 F	2027-12 F	FY2026	FY2027
Opening balance	BANK LOAN		108,000	105,000	102,000	99,000	96,000	93,000	90,000	87,000	84,000	81,000	78,000	75,000	72,000	69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000
Principal repaid	BANK LOAN	fixed monthly principal, capped at the balance	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-3,000	-36,000	-36,000
BANK LOAN	BANK LOAN		105,000	102,000	99,000	96,000	93,000	90,000	87,000	84,000	81,000	78,000	75,000	72,000	69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000	36,000	72,000	36,000
Interest	BANK LOAN	opening x rate / 12	504	490	476	462	448	434	420	406	392	378	364	350	336	322	308	294	280	266	252	238	224	210	196	182	5,124	3,108
Current portion (next 12 months)	BANK LOAN		36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000	36,000
Non-current portion	BANK LOAN		69,000	66,000	63,000	60,000	57,000	54,000	51,000	48,000	45,000	42,000	39,000	36,000	33,000	30,000	27,000	24,000	21,000	18,000	15,000	12,000	9,000	6,000	3,000	0	36,000	0
Dividends paid (net)	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS	A: bank; F: payout x FY2026 net profit in the dividend month (none further in FY2026)	0	0	0	0	0	280,000	0	0	0	0	0	0	0	0	0	0	0	309,126.4049	0	0	0	0	0	0	280,000	309,126.4049
Income tax on distributions (P&L)	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS	A: TSD; F: dividend x 22/78	0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	87,189.4988	0	0	0	0	0	0	78,974.36	87,189.4988
Income tax on distributions payable: opening	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS		0	0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	87,189.4988	0	0	0	0	0
Paid (by the 10th of the following month)	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS		0	0	0	0	0	0	-78,974.36	0	0	0	0	0	0	0	0	0	0	0	-87,189.4988	0	0	0	0	0	-78,974.36	-87,189.4988
INCOME TAX ON DISTRIBUTIONS PAYABLE	DIVIDENDS AND INCOME TAX ON DISTRIBUTIONS		0	0	0	0	0	78,974.36	0	0	0	0	0	0	0	0	0	0	0	87,189.4988	0	0	0	0	0	0	0	0
Overdraft facility, undrawn	FACILITY (memo)	Assumptions	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000

CFO decisions & actions

Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast

7. RISK REGISTER (scored 1 to 5; score = likelihood x impact)
Risk	Likelihood	Impact	Score	Mitigation and owner
Client concentration: Halvergate is 19% of FY2026 net revenue and renews on 31 December; the top five clients are 49%.	3	5	15	Renewal proposal in October with the growth marketing pod; executive sponsor meeting before 30 November; grow two mid-size retainers to reduce the share below 15%; Founder and CEO
Cash buffer: forecast low of EUR 351k against the EUR 350k buffer; media is paid before clients pay	3	4	12	Weekly 13-week review; media clients on 30-day or prepaid terms; overdraft confirmed; Operations and finance manager
Overservicing: 13% of scoped retainer hours given away (EUR 93k at standard cost)	4	3	12	Monthly scope report to each client; change requests above scope; renew on actual hours; Head of delivery (founder until the hire)
Norbeck: project at 62% realisation and CR-03 (USD 16,500) disputed	4	2	8	Fix the go-live date; settlement meeting in October; completion milestone invoiced on go-live; Founder and CEO
Capacity mismatch: development at 82% and content at 53% utilisation	3	3	9	Cross-train one content producer into design production; freelancer panel for development peaks; Operations and finance manager
Pipeline dependency: 31% of FY2027 fee revenue not yet won	3	4	12	Pipeline review every two weeks with win-probability discipline; two retainer wins targeted by Q1-27; New business director
FX: 68% of revenue in GBP and USD against euro costs	3	3	9	Price new UK and US work with an FX review clause; convert receipts on arrival; consider forward cover once GBP exposure is stable; Operations and finance manager
Pay inflation and hiring ahead of work: the FY2027 pay review and new roles land before the new work	3	3	9	Hires only against signed work; pay review tied to utilisation and realisation targets; Founder and CEO
Credit exposure: Harrowgate owes EUR 196k on 60-day terms, mostly media already paid for	2	4	8	Media prepaid or on 30 days from the next insertion order; credit limit on unpaid media; Operations and finance manager
Key person: the founder leads creative direction and new business	2	4	8	Head of delivery hire in April; second pitch lead from the account team; documented client relationships; Founder and CEO

8. ACTIONS (owner, due date, status)
Action	Owner	Due	Status	Measure of done
Halvergate renewal: proposal with the growth marketing pod and a scope matched to actual hours, signed before 30 November	Founder and CEO	2026-11-30	Open	Renewal signed; FY2027 fee agreed
Scope reviews with Voltaro, Quillfield and Halvergate: change requests above scope, monthly scope report	Head of delivery (founder until April)	2026-10-31	Open	Overservicing below 10% of scope for Q4
Norbeck: fix the go-live date, settle CR-03 and invoice the completion milestone on go-live	Founder and CEO	2026-10-31	Open	CR-03 settled in writing; milestone invoiced
Move Harrowgate media to prepaid or 30-day terms from the next insertion order; collect the June media invoice	Operations and finance manager	2026-09-30	In progress	Harrowgate balance below one month of billing
Confirm the EUR 300k overdraft through FY2027 and pre-agree drawing mechanics for the weeks around the 10th	Operations and finance manager	2026-10-15	Open	Facility letter on file
Cross-train one content producer into design production before the Quillfield campaign	Head of delivery (founder until April)	2026-10-15	Open	Design freelancer hours down by half in Q4
Link each delivery hire to signed work: January developer only on the Ferncliff signature, March designer only on Brackenholt	Founder and CEO	2026-12-15	Open	No hire without a signed statement of work
FX clause in new UK and US statements of work; review forward cover once GBP receipts are predictable	Operations and finance manager	2026-11-30	Open	Clause in every new contract
Downside plan: triggers (renewal, utilisation, overservicing, media balances), the capacity response and the order of cash levers	BriQs CFO	2026-10-15	Open	Plan approved by the founder and attached to the October pack

4. How the model works

5. Methods an agency CFO will look for

Model guide
Area	Treatment
Net revenue	Revenue less production bought in. Media spend rebilled at cost is not revenue (agent, IFRS 15.B34 to B37); the media management fee is. Production recharged with a mark-up is revenue gross (principal). Gross billings shown as a memo.
Retainers	Earned evenly each month (IFRS 15.35(a)); quarterly advance invoices are contract liabilities (IFRS 15.106). Scoped vs worked hours give overservicing hours and cost at standard. Renewal probabilities by contract and scenario; pipeline retainers win-weighted.
Projects	Over time (IFRS 15.35(c)), measured on hours (input method, IFRS 15.B18 to B19); milestone invoicing gives contract assets and liabilities; forecast hours on an S-curve; overruns by scenario; approved change requests in contract value.
Utilisation and realisation	Own billable hours / productive hours by role; freelancers above 88% of capacity; realisation = fee revenue / standard value at the rate card; standard cost rates set to recover payroll at 75% utilisation, so the recovery variance shows idle capacity in euros.
Client profitability	Contribution = net revenue less hours at standard cost; delivery variance allocated by hours; leadership, bonus, overheads and bad debts by net revenue; allocated net contributions add back to EBITDA (checked). Concentration: largest client and top five.
FX	Flows at the monthly average rate, balances at the month-end rate, revaluation to the P&L (IAS 21.23 and 21.28); receipts converted on arrival.
Working capital	Per-client receivables with days to collect; media platforms paid in 30 days; aging in invoice currency tied to the ledger by currency.
New business	Revenue split by security (in term, renewal-weighted, signed projects, pipeline, run-rate); renewal calendar with value at risk; CRM win rates; a labelled run-rate of new project wins for FY2027 sized on the FY2026 win record.

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

Monthly average FX rates are the mean of the opening and closing ECB month-end rates; forecast rates hold the last month-end rate, shifted by scenario.
Hours by role follow a fixed mix per work type (Assumptions); productive hours per FTE follow a 12-month profile with July leave.
Standard cost rates recover payroll at 75% utilisation; freelancers take demand above 88% of each role.
Renewal and win probabilities by contract and scenario; hires tied to pipeline work carry the same probability; the FY2027 run-rate of new project wins is EUR 240k of fees a quarter at 85% in the Base.
All staff contribute 2% to the funded pension and use the basic exemption through this employer; pay inflation 4.5% and overhead inflation 3% from FY2027.
Media platforms invoice in EUR monthly on 30 days; receipts are converted to EUR on arrival; no GBP or USD cash is held.
Contract positions are netted per client; leavers are replaced like for like; the bonus (5% of gross pay with employer taxes) is paid in March.

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.