IT services / Fictional demonstration
Quelvora Sistemas, Lda
FICTIONAL DEMONSTRATION. Every company, person and number in these packs is invented for demonstration.
FICTIONAL DEMONSTRATION. Every company, person and number in these packs is invented for demonstration.
Base
Executive review
Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
3. What the numbers say (Base)
| Measure | Value |
|---|---|
| YTD Aug-26 revenue vs budget | EUR 4,783k against EUR 5,239k; 8.7% below budget and 10.6% below the same months of 2025 |
| YTD EBITDA vs budget | EUR 479k against EUR 813k |
| Revenue variance by cause, YTD | Traslovia Transportes not renewed (EUR 34k); contracts won against budget (EUR 8k); existing contracts EUR 1k; SLA credits (EUR 30k); licences (EUR 11k); hardware (EUR 133k); projects (EUR 240k) |
| FY2026 revenue, gross margin, EBITDA, net profit | EUR 7,532k (10.2% below FY2025), 27.3%, EUR 863k against EUR 1,357k budgeted and EUR 1,340k in FY2025, EUR 551k |
| Managed services | Fees EUR 237k a month at Aug-26 (3,951 users, 1,225 devices, 32 contracts); net revenue retention 100.9%, gross 96.2%; EUR 1,304k of annual fees reach renewal in the next twelve months |
| Service desk | Utilisation 98% in July; SLA credits EUR 38k to Aug-26 against EUR 8k budgeted; 37 FTE against about 44 needed at the knee |
| Projects | J01 estimate at completion raised in June to 3,500 hours, June catch-up (EUR 30k), loss at completion (EUR 17k) at standard cost; signed backlog EUR 237k |
| Margins FY2026 by service line | Managed services 35%, hardware after rebates 14%, licence resale 41%, projects 25%; by contract 21% (Colégios Maravel) to 48% (Valcorra Advogados) |
| Covenant at the December 2026 test | Debt service cover 1.09x with the December IRC payment on account paid in full, 1.25x if it is limited under CIRC art. 107 (minimum 1.20x); net debt 0.23x EBITDA |
| Cash | EUR 842k at Aug-26; 13-week low EUR 742k in the week ending 4 Dec 2026; lowest month-end EUR 689k in Nov-26, EUR 289k above the EUR 400k board buffer |
| Scenario (negatives in brackets) | FY2027 revenue | FY2027 EBITDA | Debt service cover Dec-26 / Dec-27 | Lowest month-end cash | Headroom over the buffer |
|---|---|---|---|---|---|
| Base | EUR 8,204k (8.9% above FY2026) | EUR 1,059k | 1.09x / 2.23x | EUR 689k in Nov-26 | EUR 289k |
| Downside | EUR 6,995k (3.4% below FY2026) | EUR 443k | 0.77x / 0.96x | EUR 208k in Feb-27 | (EUR 192k) |
| Upside | EUR 8,915k (15.7% above FY2026) | EUR 1,478k | 1.29x / 3.13x | EUR 697k in Nov-26 | EUR 297k |
The story: FY2025 was a hardware refresh year; FY2026 lands 8.3% below budget with EBITDA of EUR 863k against EUR 1,357k budgeted. Traslovia Transportes left at its April renewal for a remote-only competitor. Four people left the service desk in the spring and two were replaced, so utilisation reached 98% in July and SLA credits reached EUR 38k against EUR 8k budgeted. The J01 ERP migration needed a specialist subcontractor and turned loss-making in June, and the distributor rebate stayed at tier 1. The binding constraint is the loan covenant: 2026 pays the FY2025 IRC balance and payments on account set on the strong FY2025 profit, so the December test fails at 1.09x unless the December payment on account is limited under CIRC art. 107, which lifts cover to 1.25x and keeps EUR 73k in the bank. The Downside (50% chance of losing Brevanor Têxteis at its March 2027 renewal, weaker hardware and projects, customers 15 days slower) breaks the covenant at both December tests and takes cash EUR 192k below the buffer in Feb-27.
| Measure | Unit | Base | Downside | Upside |
|---|---|---|---|---|
| FY2026 revenue (outlook) | EUR | 7,532,111.1807 | 7,245,282.7847 | 7,707,989.1607 |
| FY2027 revenue | EUR | 8,204,438.4955 | 6,995,470.3781 | 8,915,038.8811 |
| FY2027 revenue growth | % | 8.93% | -3.45% | 15.66% |
| Managed service fees (MRR) in Dec-27 | EUR | 269,292.494 | 227,998.2147 | 287,722.5039 |
| Net revenue retention at Dec-27 | % | 102.77% | 91.97% | 106.01% |
| FY2027 service desk utilisation | % | 81.42% | 78.12% | 85.34% |
| FY2027 SLA credits | EUR | 4,196.2001 | 3,362.5808 | 21,714.0797 |
| FY2026 gross margin % | % | 27.3% | 26.26% | 27.84% |
| FY2027 gross margin % | % | 28.48% | 24.01% | 31% |
| FY2026 EBITDA | EUR | 863,221.5886 | 715,709.2303 | 951,583.7906 |
| FY2027 EBITDA | EUR | 1,058,621.2472 | 443,381.6515 | 1,478,356.9908 |
| FY2027 net profit | EUR | 724,774.1832 | 228,351.6732 | 1,064,680.6653 |
| FY2027 project gross margin | EUR | 337,759.9292 | 95,834.6951 | 545,763.1223 |
| Cash at 31-Dec-26 | EUR | 704,225.5232 | 221,531.9938 | 745,697.6212 |
| Cash at 31-Dec-27 | EUR | 1,204,217.4696 | 236,172.2048 | 1,330,212.1501 |
| Lowest month-end cash, Sep-26 to Dec-27 | EUR | 689,023.0115 | 208,464.7586 | 696,587.1026 |
| Month of the lowest cash | month | 2026-11-30 | 2027-02-28 | 2026-11-30 |
| Headroom at the lowest point over the board buffer (negative = below) | EUR | 289,023.0115 | -191,535.2414 | 296,587.1026 |
| Net debt / EBITDA at Dec-26 (covenant at most 2.5x) | x | 0.2268 | 0.948 | 0.1622 |
| Debt service cover at Dec-26 (covenant at least 1.2x) | x | 1.0883 | 0.7653 | 1.2865 |
| Debt service cover at Dec-27 | x | 2.2311 | 0.9617 | 3.1325 |
| Dividend paid in May 2027, net of IRS | EUR | 0 | 0 | 201,879.2839 |
| Headcount at Dec-27 | number | 78.369 | 73.6892 | 78.369 |
P&L & budget
Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | REVENUE (IFRS 15) | Revenue | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,538.7029 | 237,376.5695 | 252,008.4211 | 251,930.2371 | 256,413.069 | 260,935.5666 | 260,253.7181 | 263,462.6812 | 264,109.049 | 264,741.5994 | 265,700.2716 | 265,901.387 | 266,521.3256 | 267,612.6968 | 268,586.5992 | 269,292.494 | 2,813,869.8407 | 3,173,530.4576 |
| Managed services: SLA credits (variable consideration) | REVENUE (IFRS 15) | Revenue | 0 | 0 | -3,235.73 | -4,841.71 | -5,441.04 | -3,820.12 | -11,314.01 | -9,000.4 | -8,319.2709 | -645.3668 | -9,176.7481 | -456.6435 | -1,068.3183 | -1,719.1687 | 0 | 0 | 0 | 0 | 0 | -1,408.7132 | 0 | 0 | 0 | 0 | -56,251.0392 | -4,196.2001 |
| Managed services: onboarding fees recognised | REVENUE (IFRS 15) | Revenue | 293.75 | 293.75 | 393.75 | 393.75 | 476.25 | 476.25 | 611.25 | 611.25 | 611.25 | 611.25 | 941.25 | 941.25 | 1,016.25 | 1,095 | 1,095 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 6,655 | 13,511.25 |
| Licences bundled in managed contracts (principal) | REVENUE (IFRS 15) | Revenue | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 69,001.5886 | 68,717.4282 | 73,337.6335 | 73,308.0784 | 76,597.0091 | 77,793.784 | 77,201.2995 | 77,916.6386 | 78,011.8873 | 78,193.6596 | 78,304.0056 | 77,970.5266 | 78,152.3798 | 78,278.4327 | 78,351.9045 | 78,534.8007 | 822,656.6186 | 935,306.328 |
| Annual security and backup licences (principal, over 12 months) | REVENUE (IFRS 15) | Revenue | 33,625 | 33,716.6667 | 33,816.6667 | 33,891.6667 | 33,941.6667 | 34,050 | 34,100 | 34,133.3333 | 34,206.6667 | 34,256.6667 | 34,296.6667 | 34,380 | 35,191.6667 | 35,235.3333 | 35,299.3333 | 35,349 | 35,381 | 35,438.6667 | 35,477.3333 | 35,498.6667 | 35,574.9333 | 35,626.9333 | 35,668.5333 | 35,755.2 | 408,415 | 425,496.6 |
| Licences resold as agent: commission and vendor incentive (net) | REVENUE (IFRS 15) | Revenue | 6,935.95 | 7,643.7 | 9,342.3 | 8,068.35 | 8,209.9 | 8,634.55 | 7,785.25 | 5,378.9 | 8,648.2804 | 9,214.0557 | 9,860.6561 | 10,668.9066 | 6,627.6541 | 7,112.6044 | 8,729.1054 | 7,516.7297 | 7,759.2048 | 8,244.1551 | 7,435.9046 | 5,172.8032 | 8,648.2804 | 9,214.0557 | 9,860.6561 | 10,668.9066 | 100,390.7988 | 96,990.06 |
| Hardware (principal) | REVENUE (IFRS 15) | Revenue | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 245,440 | 266,240 | 222,560 | 203,840 | 183,040 | 191,360 | 218,400 | 197,600 | 208,000 | 232,960 | 191,360 | 124,800 | 245,440 | 266,240 | 222,560 | 203,840 | 2,513,080 | 2,485,600 |
| Projects | REVENUE (IFRS 15) | Revenue | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 104,400 | 99,000 | 94,500 | 85,500 | 89,100 | 95,400 | 91,800 | 87,300 | 99,000 | 83,700 | 54,000 | 94,500 | 104,400 | 99,000 | 94,500 | 923,294.9619 | 1,078,200 |
| REVENUE | REVENUE (IFRS 15) | 565,487.86 | 596,889.5867 | 653,538.0567 | 633,432.8067 | 632,143.3767 | 602,238.1 | 602,404.58 | 496,657.4933 | 677,209.0095 | 720,170.6033 | 682,827.8793 | 669,111.8286 | 643,317.3306 | 660,913.1196 | 696,378.4564 | 674,790.0495 | 681,706.1412 | 719,723.0808 | 663,122.5151 | 563,079.6702 | 729,981.9191 | 762,517.1185 | 715,172.6931 | 693,736.4013 | 7,532,111.1807 | 8,204,438.4955 | |
| Hardware cost net of distributor rebates | COST OF REVENUE | Hardware | -159,548.42 | -168,977.73 | -192,164.33 | -172,919.52 | -181,989.98 | -204,684.57 | -168,585.51 | -104,418.82 | -210,106.2986 | -228,604.3211 | -191,375.4344 | -175,236.6564 | -157,339.5844 | -164,192.6718 | -187,549.5125 | -169,806.5515 | -178,632.8343 | -199,900.6915 | -164,654.537 | -107,586.3924 | -210,052.3647 | -228,604.3211 | -191,375.4344 | -175,236.6564 | -2,158,611.5905 | -2,134,931.552 |
| Licence cost net of vendor incentives | COST OF REVENUE | Licences | -73,876.6 | -79,377.3767 | -80,626.4267 | -80,878.7467 | -80,071.9467 | -79,976.61 | -81,694.17 | -82,133.4533 | -81,959.0933 | -81,930.4677 | -85,814.0362 | -85,544.9201 | -83,672.9854 | -90,149.0792 | -89,568.077 | -90,293.3513 | -90,521.3141 | -90,531.3545 | -90,786.2272 | -90,652.7619 | -90,468.8132 | -90,784.1416 | -90,949.882 | -90,844.8786 | -973,883.8474 | -1,079,222.866 |
| Service tooling (USD platforms) | COST OF REVENUE | Overheads | -19,340.7452 | -19,237.6251 | -19,903.7892 | -20,060.8229 | -19,856.1107 | -19,742.2967 | -20,113.8041 | -20,113.033 | -20,483.1279 | -20,412.6609 | -21,502.7645 | -21,488.8472 | -21,742.3686 | -22,031.3846 | -21,899.6162 | -22,065.9334 | -22,084.2682 | -22,121.9403 | -22,142.4359 | -22,061.6372 | -22,099.3074 | -22,125.0353 | -22,133.7313 | -22,171.5942 | -242,255.6273 | -264,679.2527 |
| Colocation and backup storage | COST OF REVENUE | Overheads | -8,856.6 | -8,856.6 | -8,883.6 | -8,885.4 | -8,870.1 | -8,871 | -8,900.7 | -8,902.5 | -8,903.7474 | -8,898.51 | -8,966.7861 | -8,964.2423 | -9,205.5881 | -9,227.8127 | -9,220.3289 | -9,231.6119 | -9,231.9291 | -9,233.3686 | -9,233.5042 | -9,227.229 | -9,228.6633 | -9,229.5382 | -9,228.0888 | -9,229.524 | -106,759.7858 | -110,727.1868 |
| Field vans | COST OF REVENUE | Overheads | -5,636.01 | -5,397.13 | -4,560.78 | -4,836.18 | -4,674.39 | -5,555.41 | -5,465.7 | -5,641.87 | -5,474.7 | -5,420.0452 | -5,421.328 | -5,421.9506 | -5,557.4766 | -5,557.4694 | -5,557.4698 | -6,367.2199 | -6,357.7728 | -6,348.4359 | -6,348.6551 | -6,348.7614 | -6,348.7576 | -6,348.7564 | -6,348.7565 | -6,348.7565 | -63,505.4938 | -73,838.2881 |
| Subcontractors (specialists and cabling) | COST OF REVENUE | Projects | -3,140 | -4,780 | -8,060 | -13,800 | -16,260 | -17,900 | -17,080 | -11,340 | -11,613.3333 | -18,325.0793 | -17,673.9028 | -9,023.0176 | -9,725.4412 | -12,281.9118 | -13,041.6176 | -12,607.5 | -12,064.8529 | -13,475.7353 | -11,630.7353 | -8,049.2647 | -12,933.0882 | -14,126.9118 | -13,475.7353 | -12,933.0882 | -148,995.3331 | -146,345.8824 |
| Onerous project provision: movement (IAS 37) | COST OF REVENUE | Projects | 0 | 0 | 0 | 0 | 0 | -10,147.14 | 4,731.43 | 2,908.57 | 835.7114 | 835.7143 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Service delivery payroll | COST OF REVENUE | People | -110,061.0737 | -109,146.08 | -106,970.92 | -100,776 | -100,722.3112 | -96,649.6 | -94,329.375 | -87,485.175 | -98,302.1289 | -107,085.0583 | -113,742.8999 | -113,844.6714 | -121,726.0361 | -120,658.4905 | -122,681.7382 | -120,706.2607 | -123,797.373 | -123,314.6206 | -117,938.9869 | -109,359.4808 | -124,323.0505 | -127,529.7555 | -128,598.5268 | -123,254.602 | -1,239,115.2935 | -1,463,888.9217 |
| Project team payroll | COST OF REVENUE | People | -43,812.6 | -46,895.93 | -46,895.93 | -45,328.705 | -46,504.1237 | -45,328.705 | -43,369.6738 | -40,235.2237 | -45,339.502 | -46,117.5829 | -46,509.4266 | -46,672.7624 | -51,401.8855 | -50,946.6237 | -50,917.3408 | -49,216.9594 | -50,492.8511 | -49,217.1854 | -47,091.0841 | -43,689.3252 | -49,642.4035 | -50,918.0631 | -51,343.283 | -49,217.1836 | -543,010.1652 | -594,094.1884 |
| TOTAL COST OF REVENUE | COST OF REVENUE | -424,272.0489 | -442,668.4718 | -468,065.7759 | -447,485.3745 | -458,948.9624 | -488,855.3317 | -434,807.5028 | -357,361.5051 | -481,346.22 | -515,958.0111 | -490,170.8642 | -466,197.0682 | -460,371.366 | -475,045.4438 | -500,435.7011 | -480,295.3881 | -493,183.1955 | -514,143.332 | -469,826.1657 | -396,974.8526 | -525,096.4485 | -549,666.523 | -513,453.4381 | -489,236.2836 | -5,476,137.1366 | -5,867,728.138 | |
| GROSS PROFIT | COST OF REVENUE | revenue - cost of revenue | 141,215.8111 | 154,221.1149 | 185,472.2808 | 185,947.4321 | 173,194.4143 | 113,382.7683 | 167,597.0772 | 139,295.9882 | 195,862.7896 | 204,212.5922 | 192,657.015 | 202,914.7604 | 182,945.9647 | 185,867.6758 | 195,942.7553 | 194,494.6613 | 188,522.9457 | 205,579.7487 | 193,296.3495 | 166,104.8176 | 204,885.4706 | 212,850.5955 | 201,719.2551 | 204,500.1177 | 2,055,974.044 | 2,336,710.3574 |
| Gross margin % of revenue | COST OF REVENUE | 24.97% | 25.84% | 28.38% | 29.36% | 27.4% | 18.83% | 27.82% | 28.05% | 28.92% | 28.36% | 28.21% | 30.33% | 28.44% | 28.12% | 28.14% | 28.82% | 27.65% | 28.56% | 29.15% | 29.5% | 28.07% | 27.91% | 28.21% | 29.48% | 27.3% | 28.48% | |
| Sales and marketing payroll incl. commissions | OPERATING EXPENSES | People | -23,414.0377 | -23,266.4576 | -26,739.534 | -25,769.1759 | -26,581.8215 | -26,039.6315 | -24,949.317 | -22,881.2249 | -26,153.3459 | -26,569.0639 | -26,930.9746 | -26,933.4108 | -30,890.7855 | -30,743.2459 | -30,830.8534 | -29,833.0806 | -30,606.0055 | -30,001.5744 | -28,598.8489 | -26,354.4975 | -30,301.8813 | -31,123.7448 | -31,157.1848 | -29,863.1908 | -306,227.9953 | -360,304.8935 |
| General and administrative payroll | OPERATING EXPENSES | People | -34,442.7237 | -34,157.48 | -34,157.48 | -33,016.505 | -33,872.2363 | -33,016.505 | -31,590.2863 | -29,308.3363 | -33,135.235 | -33,816.7542 | -34,100.8705 | -34,224.9771 | -35,069.5451 | -34,779.2368 | -34,779.2369 | -33,618.0208 | -34,488.9329 | -33,618.0208 | -32,166.5007 | -29,844.0685 | -33,908.3248 | -34,779.2369 | -35,069.5409 | -33,618.0208 | -398,839.3892 | -405,738.6857 |
| Office rent, Porto | OPERATING EXPENSES | Overheads | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -126,000 | -129,150 |
| Statutory audit, legal and tax advisers | OPERATING EXPENSES | Overheads | -4,238.97 | -4,194.22 | -12,151.32 | -4,122.45 | -4,050.77 | -4,306.92 | -3,980.83 | -4,029.51 | -4,176 | -4,176 | -4,176 | -4,176 | -4,280.4 | -4,280.4 | -11,808 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -57,778.99 | -58,892.4 |
| Insurance | OPERATING EXPENSES | Overheads | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -22,800 | -23,370 |
| Marketing and events | OPERATING EXPENSES | Overheads | -5,721.45 | -6,104.26 | -6,356.46 | -6,204.67 | -11,651.5 | -6,129.67 | -5,939.39 | -3,226.47 | -6,045 | -11,700 | -6,045 | -6,045 | -6,196.125 | -6,196.125 | -6,196.125 | -6,196.125 | -11,992.5 | -6,196.125 | -6,196.125 | -3,331.25 | -6,196.125 | -11,992.5 | -6,196.125 | -6,196.125 | -81,168.87 | -83,081.375 |
| Training and certifications | OPERATING EXPENSES | Overheads | -3,760.19 | -3,786.21 | -3,761.17 | -3,893.49 | -3,796.58 | -3,623.46 | -3,822.18 | -3,812.14 | -3,800 | -3,800 | -3,800 | -3,800 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -45,455.42 | -46,740 |
| Recruitment | OPERATING EXPENSES | Overheads | -404.52 | -2,528.86 | -2,601.49 | -387.16 | -399.43 | -2,520.56 | -2,643.47 | -397.58 | -400 | -7,000 | -6,330.8333 | -1,914.2676 | -10,784.8873 | -2,035.6909 | -4,234.3832 | -4,330.9725 | -2,129.8991 | -4,354.4894 | -2,179.8813 | -2,179.2979 | -2,204.6752 | -2,204.3859 | -2,204.0932 | -2,204.1 | -27,528.171 | -41,046.756 |
| Travel | OPERATING EXPENSES | Overheads | -3,255.03 | -3,233.46 | -3,246.93 | -3,103.37 | -3,316.44 | -3,255.01 | -3,174.36 | -3,156.39 | -3,200 | -3,200 | -3,200 | -3,200 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -38,540.99 | -39,360 |
| Telecoms and internal IT | OPERATING EXPENSES | Overheads | -4,317.95 | -4,386.24 | -4,056.41 | -3,876.23 | -4,219.65 | -4,256.38 | -4,126.14 | -4,313.73 | -4,200 | -4,200 | -4,200 | -4,200 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -50,352.73 | -51,660 |
| Office services and utilities | OPERATING EXPENSES | Overheads | -2,842.61 | -2,764.22 | -2,772.09 | -2,659.64 | -2,737.06 | -2,713.85 | -2,662.66 | -2,769.61 | -2,700 | -2,700 | -2,700 | -2,700 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -32,721.74 | -33,210 |
| Occupational health and safety | OPERATING EXPENSES | Overheads | -425.58 | -453.22 | -441.7 | -436.67 | -451.04 | -454.52 | -427.67 | -447.76 | -450 | -450 | -450 | -450 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -5,338.16 | -5,535 |
| TOTAL OPERATING EXPENSES | OPERATING EXPENSES | -95,223.0615 | -97,274.6276 | -108,684.584 | -95,869.3609 | -103,476.5277 | -98,716.5065 | -95,716.3032 | -86,742.7511 | -96,659.5809 | -110,011.8181 | -104,333.6784 | -100,043.6555 | -114,640.4929 | -105,453.4485 | -115,267.3484 | -105,677.3489 | -110,916.4875 | -105,869.3597 | -100,840.5058 | -93,408.264 | -104,310.1563 | -111,799.0176 | -106,326.0939 | -103,580.5866 | -1,192,752.4555 | -1,278,089.1102 | |
| EBITDA | OPERATING EXPENSES | 45,992.7496 | 56,946.4873 | 76,787.6968 | 90,078.0713 | 69,717.8865 | 14,666.2618 | 71,880.7739 | 52,553.2371 | 99,203.2087 | 94,200.7741 | 88,323.3367 | 102,871.1048 | 68,305.4718 | 80,414.2273 | 80,675.4069 | 88,817.3124 | 77,606.4581 | 99,710.3891 | 92,455.8436 | 72,696.5536 | 100,575.3144 | 101,051.5779 | 95,393.1611 | 100,919.5311 | 863,221.5886 | 1,058,621.2472 | |
| EBITDA % of revenue | OPERATING EXPENSES | 8.13% | 9.54% | 11.75% | 14.22% | 11.03% | 2.44% | 11.93% | 10.58% | 14.65% | 13.08% | 12.93% | 15.37% | 10.62% | 12.17% | 11.58% | 13.16% | 11.38% | 13.85% | 13.94% | 12.91% | 13.78% | 13.25% | 13.34% | 14.55% | 11.46% | 12.9% | |
| Depreciation and amortisation (incl. customer relationships) | BELOW EBITDA | Fixed_Assets | -9,266.67 | -9,316.67 | -9,402.7811 | -9,761.1144 | -9,811.1144 | -9,861.1144 | -9,947.2256 | -10,033.3367 | -10,083.3367 | -10,133.3367 | -10,291.67 | -10,439.0195 | -10,513.8749 | -10,734.1698 | -10,810.8541 | -10,923.6281 | -11,037.9875 | -11,116.2182 | -11,230.9636 | -11,310.0146 | -11,289.0562 | -8,368.5142 | -8,447.9675 | -8,527.416 | -118,347.3895 | -124,310.6647 |
| EBIT | BELOW EBITDA | 36,726.0796 | 47,629.8173 | 67,384.9157 | 80,316.9568 | 59,906.7721 | 4,805.1473 | 61,933.5484 | 42,519.9004 | 89,119.872 | 84,067.4375 | 78,031.6667 | 92,432.0853 | 57,791.5968 | 69,680.0575 | 69,864.5527 | 77,893.6843 | 66,568.4706 | 88,594.1709 | 81,224.88 | 61,386.539 | 89,286.2582 | 92,683.0637 | 86,945.1936 | 92,392.1151 | 744,874.199 | 934,310.5825 | |
| Interest on the bank loan | BELOW EBITDA | Financing | -4,752.58 | -4,640.22 | -4,699 | -4,704 | -4,652.08 | -4,578.67 | -4,477.92 | -4,409.78 | -4,305.5557 | -4,166.6668 | -4,027.7779 | -3,888.889 | -3,750.0002 | -3,611.1113 | -3,472.2224 | -3,333.3335 | -3,194.4447 | -3,055.5558 | -2,916.6669 | -2,777.778 | -2,638.8892 | -2,500.0003 | -2,361.1114 | -2,222.2225 | -53,303.1394 | -35,833.3363 |
| Exchange differences on the USD tooling vendor | BELOW EBITDA | Payables | -9.9 | 144.3552 | -294.8949 | -115.5108 | -99.5371 | 145.8407 | 91.6867 | 48.3241 | -336.8841 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -426.5202 | 0 |
| PROFIT BEFORE TAX | BELOW EBITDA | 31,963.5996 | 43,133.9524 | 62,391.0208 | 75,497.446 | 55,155.1549 | 372.3181 | 57,547.3151 | 38,158.4445 | 84,477.4322 | 79,900.7707 | 74,003.8888 | 88,543.1963 | 54,041.5966 | 66,068.9462 | 66,392.3303 | 74,560.3508 | 63,374.0259 | 85,538.6151 | 78,308.2131 | 58,608.761 | 86,647.369 | 90,183.0634 | 84,584.0822 | 90,169.8925 | 691,144.5394 | 898,477.2462 | |
| Corporate income tax (IRC) and derrama | BELOW EBITDA | Tax | -5,273.9939 | -8,121.0042 | -12,790.1593 | -15,476.9764 | -11,306.8068 | -76.3252 | -11,797.1996 | -7,822.4811 | -17,317.8736 | -16,379.658 | -15,170.7972 | -18,151.3552 | -9,038.1113 | -12,883.4445 | -12,946.5044 | -14,539.2684 | -12,357.9351 | -16,680.0299 | -15,270.1016 | -11,428.7084 | -16,896.237 | -17,585.6974 | -16,493.896 | -17,583.129 | -139,684.6306 | -173,703.063 |
| NET PROFIT | BELOW EBITDA | 26,689.6056 | 35,012.9482 | 49,600.8615 | 60,020.4696 | 43,848.3482 | 295.9929 | 45,750.1155 | 30,335.9634 | 67,159.5586 | 63,521.1127 | 58,833.0916 | 70,391.841 | 45,003.4853 | 53,185.5017 | 53,445.8259 | 60,021.0824 | 51,016.0909 | 68,858.5852 | 63,038.1116 | 47,180.0526 | 69,751.1321 | 72,597.366 | 68,090.1862 | 72,586.7635 | 551,459.9088 | 724,774.1832 | |
| Net profit % of revenue | BELOW EBITDA | 4.72% | 5.87% | 7.59% | 9.48% | 6.94% | 0.05% | 7.59% | 6.11% | 9.92% | 8.82% | 8.62% | 10.52% | 7% | 8.05% | 7.67% | 8.89% | 7.48% | 9.57% | 9.51% | 8.38% | 9.56% | 9.52% | 9.52% | 10.46% | 7.32% | 8.83% | |
| Revenue: managed services | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 288,374.83 | 289,887.79 | 294,708.93 | 294,421.49 | 289,342.7 | 291,699.94 | 293,395.62 | 297,373.49 | 298,832.2706 | 306,059.8809 | 317,110.5565 | 325,722.922 | 332,958.0099 | 338,105.1818 | 338,550.0176 | 342,524.3198 | 343,265.9364 | 344,080.259 | 345,149.2772 | 343,608.2004 | 345,818.7055 | 347,036.1295 | 348,083.5037 | 348,972.2947 | 3,586,930.42 | 4,118,151.8355 | |
| Revenue: licence resale | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 40,560.95 | 41,360.3667 | 43,158.9667 | 41,960.0167 | 42,151.5667 | 42,684.55 | 41,885.25 | 39,512.2333 | 42,854.947 | 43,470.7224 | 44,157.3228 | 45,048.9066 | 41,819.3208 | 42,347.9377 | 44,028.4387 | 42,865.7297 | 43,140.2048 | 43,682.8218 | 42,913.2379 | 40,671.4699 | 44,223.2137 | 44,840.989 | 45,529.1894 | 46,424.1066 | 508,805.7988 | 522,486.66 | |
| Revenue: hardware | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 245,440 | 266,240 | 222,560 | 203,840 | 183,040 | 191,360 | 218,400 | 197,600 | 208,000 | 232,960 | 191,360 | 124,800 | 245,440 | 266,240 | 222,560 | 203,840 | 2,513,080 | 2,485,600 | |
| Revenue: projects | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 104,400 | 99,000 | 94,500 | 85,500 | 89,100 | 95,400 | 91,800 | 87,300 | 99,000 | 83,700 | 54,000 | 94,500 | 104,400 | 99,000 | 94,500 | 923,294.9619 | 1,078,200 | |
| Payroll cost, all teams incl. commissions | SERVICE LINE AND FUNCTIONAL VIEW (memo) | -211,730.4353 | -213,465.9476 | -214,763.864 | -204,890.3859 | -207,680.4928 | -201,034.4415 | -194,238.652 | -179,909.9599 | -202,930.2118 | -213,588.4593 | -221,284.1716 | -221,675.8217 | -239,088.2522 | -237,127.5968 | -239,209.1693 | -233,374.3215 | -239,385.1625 | -236,151.4012 | -225,795.4206 | -209,247.372 | -238,175.6601 | -244,350.8003 | -246,168.5355 | -235,952.9972 | -2,487,192.8432 | -2,824,026.6894 | |
| Payroll % of revenue | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 37.44% | 35.76% | 32.86% | 32.35% | 32.85% | 33.38% | 32.24% | 36.22% | 29.97% | 29.66% | 32.41% | 33.13% | 37.16% | 35.88% | 34.35% | 34.58% | 35.12% | 32.81% | 34.05% | 37.16% | 32.63% | 32.05% | 34.42% | 34.01% | 33.02% | 34.42% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: contracts live at 31-Dec-25 (excl. Traslovia) | REVENUE | budget input | 214,188.67 | 215,052.94 | 216,315.48 | 217,357.96 | 218,029.89 | 218,522.01 | 219,356.41 | 220,698.45 | 221,181.83 | 222,268.65 | 223,010.78 | 223,587.32 | 2,629,570.39 |
| Managed services: Traslovia Transportes (renewal assumed) | REVENUE | budget input | 8,257.05 | 8,264.11 | 8,271.17 | 8,278.24 | 8,500.73 | 8,508 | 8,515.27 | 8,522.55 | 8,529.84 | 8,537.13 | 8,544.43 | 8,551.74 | 101,280.26 |
| Managed services: four new contracts (March, May, July, September) | REVENUE | budget input | 0 | 0 | 5,820 | 5,820 | 11,640 | 11,640 | 17,460 | 17,460 | 23,280 | 23,280 | 23,280 | 23,280 | 162,960 |
| Managed services: fees | REVENUE | 222,445.72 | 223,317.05 | 230,406.65 | 231,456.2 | 238,170.62 | 238,670.01 | 245,331.68 | 246,681 | 252,991.67 | 254,085.78 | 254,835.21 | 255,419.06 | 2,893,810.65 | |
| Managed services: SLA credits (variable consideration) | REVENUE | budget input | -889.78 | -893.27 | -921.63 | -925.82 | -952.68 | -954.68 | -981.33 | -986.72 | -1,011.97 | -1,016.34 | -1,019.34 | -1,021.68 | -11,575.24 |
| Managed services: onboarding fees recognised | REVENUE | budget input | 293.75 | 293.75 | 406.25 | 406.25 | 518.75 | 518.75 | 631.25 | 631.25 | 743.75 | 743.75 | 743.75 | 743.75 | 6,675 |
| Licences bundled in managed contracts (principal) | REVENUE | budget input | 65,918.34 | 66,057.65 | 67,765.57 | 67,905.59 | 69,614.21 | 69,754.93 | 71,464.26 | 71,605.7 | 73,315.74 | 73,457.9 | 73,600.41 | 73,743.28 | 844,203.58 |
| Annual security and backup licences (principal, over 12 months) | REVENUE | budget input | 33,283.33 | 33,333.33 | 33,408.33 | 33,466.67 | 33,504.17 | 33,570.83 | 33,616.67 | 33,641.67 | 33,733.33 | 33,795.83 | 33,845.83 | 33,950 | 403,149.99 |
| Licences resold as agent: commission and vendor incentive (net) | REVENUE | budget input | 7,360.6 | 7,785.25 | 10,050.05 | 8,209.9 | 8,493 | 9,059.2 | 8,068.35 | 5,803.55 | 9,342.3 | 10,191.6 | 11,040.9 | 13,588.8 | 108,993.5 |
| Hardware (principal) | REVENUE | budget input | 194,328.98 | 204,943.59 | 238,420.43 | 218,824.23 | 229,438.84 | 268,631.24 | 213,925.18 | 139,622.92 | 272,713.78 | 294,759.5 | 246,585.51 | 227,805.82 | 2,750,000.02 |
| Projects | REVENUE | budget input | 96,078.75 | 101,082.85 | 108,088.6 | 104,085.32 | 99,081.21 | 112,091.88 | 94,077.11 | 61,050.04 | 107,087.78 | 118,096.8 | 112,091.88 | 107,087.78 | 1,220,000 |
| REVENUE | REVENUE | 618,819.69 | 635,920.2 | 687,624.25 | 663,428.34 | 677,868.12 | 731,342.16 | 666,133.17 | 558,049.41 | 748,916.38 | 784,114.82 | 731,724.15 | 711,316.81 | 8,215,257.5 | |
| Hardware cost net of distributor rebates | COST OF REVENUE (costs negative) | budget input | -164,271.14 | -173,243.94 | -201,542.75 | -184,977.59 | -193,950.38 | -227,080.7 | -180,836.3 | -118,026.75 | -230,531.77 | -249,167.58 | -208,444.9 | -192,569.95 | -2,324,643.75 |
| Licence cost net of vendor incentives | COST OF REVENUE (costs negative) | budget input | -73,796.8 | -79,119.88 | -80,431.32 | -80,686.03 | -82,232.88 | -82,231.16 | -83,784.93 | -84,039.41 | -85,125.85 | -85,457.29 | -85,683.77 | -85,568.67 | -988,157.99 |
| Service tooling (USD platforms) | COST OF REVENUE (costs negative) | budget input | -19,690.58 | -19,720.27 | -20,131.43 | -20,161.26 | -20,572.56 | -20,602.53 | -21,013.97 | -21,044.09 | -21,455.67 | -21,485.93 | -21,516.26 | -21,546.66 | -248,941.21 |
| Colocation and backup storage | COST OF REVENUE (costs negative) | budget input | -8,857.72 | -8,858.85 | -8,886.97 | -8,888.1 | -8,916.23 | -8,917.36 | -8,945.49 | -8,946.62 | -8,974.75 | -8,975.89 | -8,977.02 | -8,978.16 | -107,123.16 |
| Field vans | COST OF REVENUE (costs negative) | budget input | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -66,360 |
| Subcontractors (specialists and cabling) | COST OF REVENUE (costs negative) | budget input | -4,575 | -4,575 | -4,575 | -4,575 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -30,300 |
| Onerous project provision: movement | COST OF REVENUE (costs negative) | budget input | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Service delivery payroll | COST OF REVENUE (costs negative) | budget input | -110,061.07 | -109,146.07 | -111,844.65 | -110,051.6 | -116,629.73 | -116,280 | -111,237.19 | -103,168.69 | -117,288.56 | -120,314.25 | -121,322.81 | -116,280 | -1,363,624.62 |
| Project team payroll | COST OF REVENUE (costs negative) | budget input | -43,812.6 | -46,895.92 | -46,895.92 | -45,328.7 | -46,504.12 | -45,328.7 | -43,369.67 | -40,235.22 | -45,720.51 | -46,895.92 | -47,287.73 | -45,328.7 | -543,603.71 |
| TOTAL COST OF REVENUE | COST OF REVENUE (costs negative) | -430,594.91 | -447,089.93 | -479,838.04 | -460,198.28 | -475,835.9 | -507,470.45 | -456,217.55 | -382,490.78 | -516,127.11 | -539,326.86 | -500,262.49 | -477,302.14 | -5,672,754.44 | |
| GROSS PROFIT | COST OF REVENUE (costs negative) | 188,224.78 | 188,830.27 | 207,786.21 | 203,230.06 | 202,032.22 | 223,871.71 | 209,915.62 | 175,558.63 | 232,789.27 | 244,787.96 | 231,461.66 | 234,014.67 | 2,542,503.06 | |
| Sales and marketing payroll incl. commissions | OPERATING EXPENSES | budget input | -23,468.97 | -23,334.93 | -26,866.28 | -25,915.92 | -26,752.57 | -26,305.89 | -25,112.82 | -23,038.74 | -26,827.54 | -27,576.59 | -27,552.13 | -26,392.4 | -309,144.78 |
| General and administrative payroll | OPERATING EXPENSES | budget input | -34,442.72 | -34,157.47 | -34,157.47 | -33,016.5 | -33,872.23 | -33,016.5 | -31,590.28 | -29,308.33 | -33,301.74 | -34,157.47 | -34,442.72 | -33,016.5 | -398,479.93 |
| Office rent, Porto | OPERATING EXPENSES | budget input | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -126,000 |
| Statutory audit, legal and tax advisers | OPERATING EXPENSES | budget input | -4,176 | -4,176 | -11,520 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -57,456 |
| Insurance | OPERATING EXPENSES | budget input | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -22,800 |
| Marketing and events | OPERATING EXPENSES | budget input | -6,045 | -6,045 | -6,045 | -6,045 | -11,700 | -6,045 | -6,045 | -3,250 | -6,045 | -11,700 | -6,045 | -6,045 | -81,055 |
| Training and certifications | OPERATING EXPENSES | budget input | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -45,600 |
| Recruitment | OPERATING EXPENSES | budget input | -400 | -2,600 | -4,800 | -2,600 | -2,600 | -2,600 | -400 | -400 | -400 | -400 | -400 | -400 | -18,000 |
| Travel | OPERATING EXPENSES | budget input | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -38,400 |
| Telecoms and internal IT | OPERATING EXPENSES | budget input | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -50,400 |
| Office services and utilities | OPERATING EXPENSES | budget input | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -32,400 |
| Occupational health and safety | OPERATING EXPENSES | budget input | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -5,400 |
| TOTAL OPERATING EXPENSES | OPERATING EXPENSES | -95,282.69 | -97,063.4 | -110,138.75 | -98,503.42 | -105,850.8 | -98,893.39 | -94,074.1 | -86,923.07 | -97,500.28 | -104,760.06 | -99,365.85 | -96,779.9 | -1,185,135.71 | |
| EBITDA | OPERATING EXPENSES | 92,942.09 | 91,766.87 | 97,647.46 | 104,726.64 | 96,181.42 | 124,978.32 | 115,841.52 | 88,635.56 | 135,288.99 | 140,027.9 | 132,095.81 | 137,234.77 | 1,357,367.35 | |
| Depreciation and amortisation | OPERATING EXPENSES | budget input | -9,266.67 | -9,391.67 | -9,516.67 | -9,641.67 | -9,766.67 | -9,891.67 | -10,016.67 | -10,141.67 | -10,266.67 | -10,391.67 | -10,516.67 | -10,641.67 | -119,450.04 |
| Interest on the bank loan | OPERATING EXPENSES | budget input | -4,820.83 | -4,697.22 | -4,573.61 | -4,450 | -4,326.39 | -4,202.78 | -4,079.17 | -3,955.56 | -3,831.94 | -3,708.33 | -3,584.72 | -3,461.11 | -49,691.66 |
| Exchange differences | OPERATING EXPENSES | budget input | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PROFIT BEFORE TAX | OPERATING EXPENSES | 78,854.59 | 77,677.98 | 83,557.18 | 90,634.97 | 82,088.36 | 110,883.87 | 101,745.68 | 74,538.33 | 121,190.38 | 125,927.9 | 117,994.42 | 123,131.99 | 1,188,225.65 | |
| Corporate income tax (IRC) and derrama | OPERATING EXPENSES | budget input | -16,032.46 | -15,793.24 | -16,988.58 | -18,427.61 | -16,689.94 | -22,544.56 | -20,686.61 | -15,154.9 | -24,640.04 | -25,603.26 | -23,990.25 | -25,034.8 | -241,586.25 |
| NET PROFIT | OPERATING EXPENSES | 62,822.13 | 61,884.74 | 66,568.6 | 72,207.36 | 65,398.42 | 88,339.31 | 81,059.07 | 59,383.43 | 96,550.34 | 100,324.64 | 94,004.17 | 98,097.19 | 946,639.4 | |
| Managed users at month end | DRIVERS, BALANCES AND HEADCOUNT | budget | 3,782.97 | 3,790.97 | 3,888.99 | 3,897.02 | 3,995.08 | 4,003.15 | 4,101.25 | 4,109.37 | 4,207.5 | 4,215.66 | 4,223.84 | 4,232.04 | 4,232.04 |
| Managed devices at month end | DRIVERS, BALANCES AND HEADCOUNT | budget | 1,175.25 | 1,176.5 | 1,207.75 | 1,209 | 1,240.25 | 1,241.51 | 1,272.76 | 1,274.02 | 1,305.28 | 1,306.54 | 1,307.8 | 1,309.07 | 1,309.07 |
| Managed service fees (MRR) | DRIVERS, BALANCES AND HEADCOUNT | budget input | 222,445.72 | 223,317.05 | 230,406.65 | 231,456.2 | 238,170.63 | 238,670.01 | 245,331.68 | 246,681 | 252,991.67 | 254,085.79 | 254,835.21 | 255,419.05 | 2,893,810.66 |
| Contracts billing | DRIVERS, BALANCES AND HEADCOUNT | budget | 30 | 30 | 31 | 31 | 32 | 32 | 33 | 33 | 34 | 34 | 34 | 34 | 34 |
| Annual licences billed | DRIVERS, BALANCES AND HEADCOUNT | budget input | 239,400 | 12,600 | 18,900 | 14,700 | 9,450 | 16,800 | 11,550 | 6,300 | 23,100 | 15,750 | 12,600 | 26,250 | 407,400 |
| Hardware purchases (cost of sales) | DRIVERS, BALANCES AND HEADCOUNT | budget input | 168,483.22 | 177,686.09 | 206,710.51 | 189,720.61 | 198,923.47 | 232,903.28 | 185,473.13 | 121,053.07 | 236,442.84 | 255,556.49 | 213,789.64 | 197,507.65 | 2,384,250 |
| Distributor rebate rate | DRIVERS, BALANCES AND HEADCOUNT | budget | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% |
| Service desk utilisation | DRIVERS, BALANCES AND HEADCOUNT | budget | 81% | 81% | 80% | 80% | 78% | 78% | 83% | 87% | 86% | 82% | 81% | 81% | 81.5% |
| Service desk FTE | DRIVERS, BALANCES AND HEADCOUNT | budget | 39 | 39 | 40 | 41 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 |
| Headcount | DRIVERS, BALANCES AND HEADCOUNT | budget | 68 | 69 | 71 | 72 | 73 | 74 | 74 | 74 | 74 | 74 | 74 | 74 | 74 |
| Hires | DRIVERS, BALANCES AND HEADCOUNT | budget input | 0 | 1 | 2 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 6 |
| Cash at bank | DRIVERS, BALANCES AND HEADCOUNT | budget balance | 1,002,187.93 | 1,052,024.26 | 1,101,379.16 | 1,164,422.46 | 853,858.54 | 831,647.79 | 829,206.61 | 877,953.28 | 895,206.79 | 995,593.03 | 1,088,170.79 | 1,112,926.52 | 1,112,926.52 |
| Net debt | DRIVERS, BALANCES AND HEADCOUNT | budget balance | 264,478.74 | 181,309.08 | 98,620.85 | 2,244.22 | 279,474.81 | 268,352.23 | 237,460.08 | 155,380.08 | 104,793.24 | -28,926.33 | -154,837.42 | -212,926.48 | -212,926.48 |
| USD per EUR (budget rate) | DRIVERS, BALANCES AND HEADCOUNT | budget | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 |
| label | ytd actual | ytd budget | ytd variance | ytd variance pct | fy outlook | fy budget | fy variance | fy variance pct | commentary |
|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | 1,835,015.91 | 1,876,478.93 | -41,463.02 | -2.21% | 2,813,869.8407 | 2,893,810.65 | -79,940.8093 | -2.76% | Traslovia Transportes lost at its April renewal; three new contracts from March against four budgeted. |
| Managed services: SLA credits (variable consideration) | -37,653.01 | -7,505.91 | -30,147.1 | -401.64% | -56,251.0392 | -11,575.24 | -44,675.7992 | -385.96% | Desk short of staff after four leavers; utilisation 98% in July. |
| Managed services: onboarding fees recognised | 3,550 | 3,700 | -150 | -4.05% | 6,655 | 6,675 | -20 | -0.3% | |
| Licences bundled in managed contracts (principal) | 538,291.89 | 550,086.25 | -11,794.36 | -2.14% | 822,656.6186 | 844,203.58 | -21,546.9614 | -2.55% | |
| Annual security and backup licences (principal, over 12 months) | 271,275 | 267,825 | 3,450 | 1.29% | 408,415 | 403,149.99 | 5,265.01 | 1.31% | |
| Licences resold as agent: commission and vendor incentive (net) | 61,998.9 | 64,829.9 | -2,831 | -4.37% | 100,390.7988 | 108,993.5 | -8,602.7013 | -7.89% | |
| Hardware (principal) | 1,575,000 | 1,708,135.41 | -133,135.41 | -7.79% | 2,513,080 | 2,750,000.02 | -236,920.02 | -8.62% | No refresh cycle this year; demand below the 2025 base. |
| Projects | 535,313.17 | 775,635.76 | -240,322.59 | -30.98% | 923,294.9619 | 1,220,000 | -296,705.0381 | -24.32% | J01 catch-up in June and a slower pipeline. |
| REVENUE | 4,782,791.86 | 5,239,185.34 | -456,393.48 | -8.71% | 7,532,111.1807 | 8,215,257.5 | -683,146.3193 | -8.32% | Revenue by cause: see the table below. |
| Hardware cost net of distributor rebates | -1,353,288.88 | -1,443,929.55 | 90,640.67 | 6.28% | -2,158,611.5905 | -2,324,643.75 | 166,032.1595 | 7.14% | Lower volume; distributor rebate at tier 1 against tier 2 budgeted. |
| Licence cost net of vendor incentives | -638,635.33 | -646,322.41 | 7,687.08 | 1.19% | -973,883.8474 | -988,157.99 | 14,274.1426 | 1.44% | |
| Service tooling (USD platforms) | -158,368.2269 | -162,936.69 | 4,568.4631 | 2.8% | -242,255.6273 | -248,941.21 | 6,685.5827 | 2.69% | |
| Colocation and backup storage | -71,026.5 | -71,217.34 | 190.84 | 0.27% | -106,759.7858 | -107,123.16 | 363.3742 | 0.34% | |
| Field vans | -41,767.47 | -44,240 | 2,472.53 | 5.59% | -63,505.4938 | -66,360 | 2,854.5062 | 4.3% | |
| Subcontractors (specialists and cabling) | -92,360 | -24,300 | -68,060 | -280.08% | -148,995.3331 | -30,300 | -118,695.3331 | -391.73% | J01 data migration specialist subcontractor. |
| Onerous project provision: movement (IAS 37) | -2,507.14 | 0 | -2,507.14 | 0% | 0 | 0 | 0 | 0% | J01 onerous contract provision (IAS 37). |
| Service delivery payroll | -806,140.535 | -888,419 | 82,278.465 | 9.26% | -1,239,115.2935 | -1,363,624.62 | 124,509.3265 | 9.13% | Four leavers, two replaced; budgeted desk hires not made. |
| Project team payroll | -358,370.8912 | -358,370.85 | -0.0413 | -0% | -543,010.1652 | -543,603.71 | 593.5448 | 0.11% | |
| TOTAL COST OF REVENUE | -3,522,464.9731 | -3,639,735.84 | 117,270.8669 | 3.22% | -5,476,137.1366 | -5,672,754.44 | 196,617.3034 | 3.47% | |
| GROSS PROFIT | 1,260,326.8869 | 1,599,449.5 | -339,122.6131 | -21.2% | 2,055,974.044 | 2,542,503.06 | -486,529.016 | -19.14% | |
| Gross margin % | 0.2635 | 0.3053 | -0.0418 | 0.273 | 0.3095 | -0.0365 | |||
| Sales and marketing payroll incl. commissions | -199,641.2001 | -200,796.12 | 1,154.9199 | 0.58% | -306,227.9953 | -309,144.78 | 2,916.7847 | 0.94% | |
| General and administrative payroll | -263,561.5525 | -263,561.5 | -0.0525 | -0% | -398,839.3892 | -398,479.93 | -359.4592 | -0.09% | |
| Office rent, Porto | -84,000 | -84,000 | 0 | 0% | -126,000 | -126,000 | 0 | 0% | |
| Statutory audit, legal and tax advisers | -41,074.99 | -40,752 | -322.99 | -0.79% | -57,778.99 | -57,456 | -322.99 | -0.56% | |
| Insurance | -15,200 | -15,200 | 0 | 0% | -22,800 | -22,800 | 0 | 0% | |
| Marketing and events | -51,333.87 | -51,220 | -113.87 | -0.22% | -81,168.87 | -81,055 | -113.87 | -0.14% | |
| Training and certifications | -30,255.42 | -30,400 | 144.58 | 0.48% | -45,455.42 | -45,600 | 144.58 | 0.32% | |
| Recruitment | -11,883.07 | -16,400 | 4,516.93 | 27.54% | -27,528.171 | -18,000 | -9,528.171 | -52.93% | Recruitment follows the hires. |
| Travel | -25,740.99 | -25,600 | -140.99 | -0.55% | -38,540.99 | -38,400 | -140.99 | -0.37% | |
| Telecoms and internal IT | -33,552.73 | -33,600 | 47.27 | 0.14% | -50,352.73 | -50,400 | 47.27 | 0.09% | |
| Office services and utilities | -21,921.74 | -21,600 | -321.74 | -1.49% | -32,721.74 | -32,400 | -321.74 | -0.99% | |
| Occupational health and safety | -3,538.16 | -3,600 | 61.84 | 1.72% | -5,338.16 | -5,400 | 61.84 | 1.15% | |
| TOTAL OPERATING EXPENSES | -781,703.7226 | -786,729.62 | 5,025.8974 | 0.64% | -1,192,752.4555 | -1,185,135.71 | -7,616.7455 | -0.64% | |
| EBITDA | 478,623.1642 | 812,719.88 | -334,096.7158 | -41.11% | 863,221.5886 | 1,357,367.35 | -494,145.7614 | -36.4% | EUR 334k behind budget YTD; EUR 494k behind on the full-year outlook. |
| EBITDA % of revenue | 0.1001 | 0.1551 | -0.0551 | 0.1146 | 0.1652 | -0.0506 | |||
| Depreciation and amortisation | -77,400.0267 | -77,633.36 | 233.3333 | 0.3% | -118,347.3895 | -119,450.04 | 1,102.6505 | 0.92% | |
| Interest on the bank loan | -36,914.25 | -35,105.56 | -1,808.69 | -5.15% | -53,303.1394 | -49,691.66 | -3,611.4794 | -7.27% | |
| Exchange differences | -89.6361 | 0 | -89.6361 | 0% | -426.5202 | 0 | -426.5202 | 0% | |
| Corporate income tax (IRC) and derrama | -72,664.9465 | -142,317.9 | 69,652.9535 | 48.94% | -139,684.6306 | -241,586.25 | 101,901.6194 | 42.18% | Lower profit; FY2026 rates 19% and 15% on the first EUR 50,000. |
| NET PROFIT | 291,554.3049 | 557,663.06 | -266,108.7551 | -47.72% | 551,459.9088 | 946,639.4 | -395,179.4912 | -41.75% | |
| Managed users | 3,951 | 4,109.37 | -158.37 | -3.85% | 4,207.0633 | 4,232.04 | -24.9767 | -0.59% | |
| Managed service fees (MRR) in the month | 236,994.81 | 246,681 | -9,686.19 | -3.93% | 251,930.2371 | 255,419.05 | -3,488.8129 | -1.37% | |
| Contracts billing | 32 | 33 | -1 | -3.03% | 33 | 34 | -1 | -2.94% | |
| Service desk utilisation | 0.8925 | 0.81 | 0.0825 | 10.19% | 0.8913 | 0.815 | 0.0763 | 9.36% | |
| Distributor rebate earned, % of purchases | 0.015 | 0.03 | -0.015 | -50% | 0.015 | 0.03 | -0.015 | -50% | |
| Service desk FTE | 37 | 43 | -6 | -13.95% | 41.0637 | 43 | -1.9363 | -4.5% | |
| Headcount | 68 | 74 | -6 | -8.11% | 71.5452 | 74 | -2.4548 | -3.32% | |
| Cash at bank | 842,052.8828 | 877,953.28 | -35,900.3972 | -4.09% | 704,225.5232 | 1,112,926.52 | -408,700.9968 | -36.72% | |
| Net debt | 191,280.4772 | 155,380.08 | 35,900.3972 | 23.1% | 195,774.5168 | -212,926.48 | 408,700.9968 | 191.94% |
| Cause | YTD actual | YTD budget | YTD variance | Revenue effect YTD | FY26 outlook | FY26 budget | FY26 variance | Revenue effect FY26 |
|---|---|---|---|---|---|---|---|---|
| Traslovia Transportes not renewed at its April term end | 33,078 | 67,117.12 | -34,039.12 | -34,039.12 | 33,078 | 101,280.26 | -68,202.26 | -68,202.26 |
| New contracts: three won from March, May and July (and pipeline) against four budgeted | 61,667 | 69,840 | -8,173 | -8,173 | 155,121.8759 | 162,960 | -7,838.1241 | -7,838.1241 |
| Existing contracts: users, devices and price reviews | 1,740,270.91 | 1,739,521.81 | 749.1 | 749.1 | 2,625,669.9647 | 2,629,570.39 | -3,900.4253 | -3,900.4253 |
| SLA credits (service desk capacity) | -37,653.01 | -7,505.91 | -30,147.1 | -30,147.1 | -56,251.0392 | -11,575.24 | -44,675.7992 | -44,675.7992 |
| Onboarding fees recognised | 3,550 | 3,700 | -150 | -150 | 6,655 | 6,675 | -20 | -20 |
| Bundled licences | 538,291.89 | 550,086.25 | -11,794.36 | -11,794.36 | 822,656.6186 | 844,203.58 | -21,546.9614 | -21,546.9614 |
| Annual licences | 271,275 | 267,825 | 3,450 | 3,450 | 408,415 | 403,149.99 | 5,265.01 | 5,265.01 |
| Licences resold as agent | 61,998.9 | 64,829.9 | -2,831 | -2,831 | 100,390.7988 | 108,993.5 | -8,602.7013 | -8,602.7013 |
| Hardware | 1,575,000 | 1,708,135.41 | -133,135.41 | -133,135.41 | 2,513,080 | 2,750,000.02 | -236,920.02 | -236,920.02 |
| Projects | 535,313.17 | 775,635.76 | -240,322.59 | -240,322.59 | 923,294.9619 | 1,220,000 | -296,705.0381 | -296,705.0381 |
| TOTAL REVENUE VARIANCE | -456,393.48 | -683,146.3193 |
| step | value |
|---|---|
| Budget EBITDA YTD | 812,719.88 |
| Managed services revenue (fees, SLA credits, onboarding, bundled licences) | -83,554.48 |
| Licence resale revenue | 619 |
| Hardware revenue | -133,135.41 |
| Project revenue | -240,322.59 |
| Hardware cost net of rebates | 90,640.67 |
| Licence cost net of incentives | 7,687.08 |
| Tooling, colocation and field vans | 7,231.8331 |
| Subcontractors | -68,060 |
| Onerous project provision | -2,507.14 |
| Service delivery payroll | 82,278.465 |
| Project team payroll | -0.0413 |
| Sales and marketing payroll incl. commissions | 1,154.9199 |
| General and administrative payroll | -0.0525 |
| Overheads | 3,871.03 |
| Actual EBITDA YTD | 478,623.1642 |
Balance sheet & cash flow
Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| 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 | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 805,903.2175 | 747,498.1932 | 689,023.0115 | 704,225.5232 | 774,924.957 | 843,337.6067 | 973,624.4029 | 1,013,620.0447 | 1,122,811.4059 | 1,067,687.9955 | 997,915.306 | 1,190,957.8757 | 1,267,478.3334 | 1,207,475.5981 | 1,198,311.3367 | 1,204,217.4696 | 704,225.5232 | 1,204,217.4696 |
| Receivables: customers in Portugal (incl. VAT) | ASSETS | Receivables | 1,084,367.9053 | 866,796.7276 | 870,475.3987 | 926,607.2165 | 870,335.3704 | 868,847.2941 | 848,195.4363 | 714,105.2217 | 891,075.0491 | 964,686.9557 | 1,065,895.4071 | 980,541.765 | 1,184,789.1314 | 996,572.8966 | 979,277.1847 | 955,099.0934 | 948,428.9243 | 1,001,924.3455 | 943,704.9136 | 797,288.855 | 981,444.1276 | 1,071,378.743 | 1,029,666.1941 | 1,013,643.8566 | 980,541.765 | 1,013,643.8566 |
| Receivables: customers in Spain | ASSETS | Receivables | 209,645.7178 | 182,411.273 | 184,277.2757 | 180,533.798 | 152,960.428 | 179,569.4446 | 176,724.587 | 156,842.9203 | 170,099.4169 | 169,755.1742 | 165,253.7478 | 161,149.1588 | 185,363.0465 | 181,544.0156 | 167,538.0637 | 173,004.2885 | 171,698.7114 | 176,463.7099 | 172,844.2704 | 151,155.2324 | 164,082.0853 | 188,775.4581 | 186,128.5448 | 180,791.9777 | 161,149.1588 | 180,791.9777 |
| Contract assets: projects (progress ahead of billing) | ASSETS | Projects | 0 | 1,309.09 | 21,871.79 | 5,525 | 14,479.38 | 8,287.5 | 6,791.49 | 0 | 14,144.7619 | 39,572.381 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,800 | 0 |
| Hardware stock | ASSETS | Hardware | 73,904.6 | 76,268.62 | 91,851.66 | 86,610.7 | 79,426.39 | 93,242.97 | 77,430.33 | 52,742.81 | 99,877.7173 | 104,847.0297 | 90,567.0827 | 80,273.5071 | 72,082.3329 | 83,432.96 | 86,007.329 | 80,410.0267 | 81,911.7419 | 94,799.1893 | 75,358.8026 | 49,147.0452 | 99,877.7173 | 104,847.0297 | 90,567.0827 | 80,273.5071 | 80,273.5071 | 80,273.5071 |
| Prepaid annual licence costs | ASSETS | Licences | 224,105 | 208,436.3333 | 197,327.6667 | 182,894 | 164,394.3333 | 151,664.3333 | 134,564.3333 | 113,487 | 104,878.7333 | 90,699.6667 | 74,119 | 67,750.2 | 233,466.9333 | 217,042.32 | 205,390.5067 | 190,302.2267 | 171,000.5067 | 157,741.04 | 139,946.9067 | 118,026.48 | 109,073.8827 | 94,327.6533 | 77,083.76 | 70,460.208 | 67,750.2 | 70,460.208 |
| Rebates and incentives receivable | ASSETS | Rebates | 42,747.82 | 16,617.86 | 23,683.86 | 29,805.69 | 12,228.05 | 19,254.82 | 25,039.32 | 9,895.91 | 17,703.999 | 25,084.6078 | 14,068.2587 | 21,029.9548 | 32,257.4586 | 17,514.9745 | 24,457.3288 | 30,693.7919 | 12,637.6615 | 19,814.2674 | 25,677.8624 | 10,198.7882 | 18,313.3489 | 25,950.2415 | 14,462.8709 | 21,580.6044 | 21,029.9548 | 21,580.6044 |
| Contract costs: capitalised commissions (IFRS 15.91) | ASSETS | People | 0 | 0 | 4,553.01 | 4,422.924 | 7,962.273 | 7,727.346 | 13,043.349 | 12,649.824 | 12,256.299 | 11,862.774 | 23,837.5665 | 23,090.661 | 25,566.2055 | 28,089.3628 | 27,154.3264 | 28,461.1449 | 27,462.0555 | 26,462.9661 | 25,463.8766 | 24,464.7872 | 23,465.6977 | 22,466.6083 | 21,467.5189 | 20,468.4294 | 23,090.661 | 20,468.4294 |
| Rent deposit | ASSETS | opening balance | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 |
| IT equipment and office fit-out | ASSETS | Fixed_Assets | 118,533.33 | 117,316.66 | 125,813.8789 | 122,852.7644 | 119,841.65 | 118,080.5356 | 116,233.31 | 112,999.9733 | 109,716.6367 | 110,283.3 | 110,296.2133 | 107,551.9883 | 109,968.7286 | 106,995.1943 | 105,244.203 | 103,437.5132 | 100,215.8297 | 98,230.4462 | 94,845.3216 | 91,380.8012 | 87,952.2349 | 87,444.0397 | 86,856.2181 | 86,188.9521 | 107,551.9883 | 86,188.9521 |
| Customer relationships | ASSETS | Fixed_Assets | 370,000 | 365,000 | 360,000 | 355,000 | 350,000 | 345,000 | 340,000 | 335,000 | 330,000 | 325,000 | 320,000 | 315,000 | 310,000 | 305,000 | 300,000 | 295,000 | 290,000 | 285,000 | 280,000 | 275,000 | 270,000 | 265,000 | 260,000 | 255,000 | 315,000 | 255,000 |
| Goodwill | ASSETS | Fixed_Assets | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 |
| TOTAL ASSETS | ASSETS | 4,145,590.0746 | 3,966,412.7374 | 4,105,956.7666 | 4,090,881.6826 | 3,863,868.94 | 3,613,153.9311 | 3,398,690.4264 | 3,290,776.5421 | 3,496,655.8308 | 3,530,290.0821 | 3,494,060.2875 | 3,410,412.7581 | 3,869,418.7938 | 3,720,529.3306 | 3,809,693.3451 | 3,811,028.1301 | 3,867,166.837 | 3,869,123.9599 | 3,696,757.2599 | 3,648,619.8648 | 3,962,687.4279 | 4,008,665.3717 | 3,905,543.5262 | 3,873,625.005 | 3,410,412.7581 | 3,873,625.005 | |
| Trade payables: hardware distributors | LIABILITIES | Payables | 171,017.478 | 213,959.7526 | 259,420.5818 | 209,385.411 | 218,285.2597 | 272,849.1531 | 190,772.2159 | 99,562.9463 | 321,225.0624 | 291,670.6286 | 221,144.6188 | 205,969.5324 | 186,246.2381 | 219,206.3529 | 237,413.5779 | 205,053.1741 | 224,939.5898 | 265,715.1379 | 181,333.4059 | 101,615.0264 | 325,647.8532 | 291,670.6286 | 221,144.6188 | 205,969.5324 | 205,969.5324 | 205,969.5324 |
| Trade payables: licence distributor | LIABILITIES | Payables | 349,276.4457 | 139,566.9641 | 159,995.6758 | 146,302.4442 | 141,212.0876 | 151,673.0196 | 141,778.3235 | 118,786.577 | 159,519.0123 | 156,769.6441 | 163,621.3376 | 182,444.7759 | 367,204.5356 | 148,183.1233 | 165,929.7367 | 153,168.4023 | 149,979.3391 | 161,383.2693 | 149,740.6936 | 126,935.4066 | 169,873.0626 | 167,277.282 | 169,292.8031 | 188,842.3058 | 182,444.7759 | 188,842.3058 |
| Trade payables: tooling vendor (USD) | LIABILITIES | Payables | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 20,483.1279 | 20,412.6609 | 21,502.7645 | 21,488.8472 | 21,742.3686 | 22,031.3846 | 21,899.6162 | 22,065.9334 | 22,084.2682 | 22,121.9403 | 22,142.4359 | 22,061.6372 | 22,099.3074 | 22,125.0353 | 22,133.7313 | 22,171.5942 | 21,488.8472 | 22,171.5942 |
| Trade payables: other suppliers | LIABILITIES | Payables | 38,265.7182 | 44,873.8933 | 71,149.6332 | 51,792.6195 | 61,416.5207 | 60,928.0265 | 59,626.6094 | 45,069.4557 | 48,958.8393 | 77,078.4948 | 68,096.4398 | 48,810.3062 | 67,847.4849 | 53,898.6934 | 68,385.3156 | 58,795.2888 | 60,950.6638 | 59,911.3971 | 53,386.9012 | 45,449.0361 | 55,031.3581 | 63,629.8124 | 55,696.9686 | 55,031.2913 | 48,810.3062 | 55,031.2913 |
| Contract liabilities: annual licences billed ahead | LIABILITIES | Licences | 294,875 | 274,258.3333 | 259,641.6667 | 240,650 | 216,308.3333 | 199,558.3333 | 177,058.3333 | 149,325 | 137,998.3333 | 119,341.6667 | 97,525 | 89,145 | 307,193.3333 | 285,582 | 270,250.6667 | 250,397.6667 | 225,000.6667 | 207,554 | 184,140.6667 | 155,298 | 143,518.2667 | 124,115.3333 | 101,426 | 92,710.8 | 89,145 | 92,710.8 |
| Contract liabilities: projects billed ahead of progress | LIABILITIES | Projects | 37,072.12 | 15,447.78 | 20,244.32 | 23,998.23 | 3,087.5 | 31,482.01 | 12,814.29 | 11,219.03 | 8,800 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contract liabilities: onboarding fees deferred | LIABILITIES | Contracts | 7,762.5 | 7,468.75 | 10,675 | 10,281.25 | 12,775 | 12,298.75 | 16,547.5 | 15,936.25 | 15,325 | 14,713.75 | 25,652.5 | 24,711.25 | 26,395 | 28,135 | 27,040 | 27,695 | 26,550 | 25,405 | 24,260 | 23,115 | 21,970 | 20,825 | 19,680 | 18,535 | 24,711.25 | 18,535 |
| SLA credits due to customers | LIABILITIES | Service_Desk | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,319.2709 | 645.3668 | 9,176.7481 | 456.6435 | 1,068.3183 | 1,719.1687 | 0 | 0 | 0 | 0 | 0 | 1,408.7132 | 0 | 0 | 0 | 0 | 456.6435 | 0 |
| VAT payable | LIABILITIES | VAT | 118,791.5927 | 99,127.7568 | 82,209.3356 | 99,728.6589 | 107,596.91 | 83,497.8917 | 87,264.6345 | 137,502.685 | 90,155.5412 | 83,863.3249 | 119,537.3996 | 133,330.9361 | 124,769.38 | 124,603.2434 | 114,975.5716 | 118,044.6005 | 118,376.1538 | 115,743.6634 | 121,685.1352 | 182,240.0069 | 110,172.4032 | 110,409.5682 | 126,493.5239 | 130,216.0377 | 133,330.9361 | 130,216.0377 |
| Social security payable | LIABILITIES | People | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,543.7697 | 45,835.608 | 92,428.0786 | 50,571.9763 | 50,905.0063 | 51,780.8208 | 52,234.5689 | 51,760.4606 | 52,370.1383 | 104,366.0758 | 52,348.4112 | 52,286.1497 | 52,197.4891 | 52,358.548 | 104,003.9332 | 52,328.0133 | 50,571.9763 | 52,328.0133 |
| IRS withheld payable | LIABILITIES | People | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 19,986.6785 | 20,374.9353 | 41,156.1624 | 22,413.0811 | 23,121.6775 | 23,502.2658 | 23,618.1822 | 23,341.17 | 23,607.2913 | 46,974.3329 | 23,559.3037 | 23,532.7582 | 23,494.3062 | 23,564.1334 | 46,845.9439 | 23,550.8943 | 22,413.0811 | 23,550.8943 |
| IRC withheld on rent payable | LIABILITIES | Overheads | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,625 | 2,690.625 |
| Commissions payable (incl. TSU) | LIABILITIES | People | 904.5878 | 943.4576 | 5,747.544 | 947.6899 | 4,789.5705 | 1,113.3045 | 6,640.92 | 570.4999 | 1,166.3309 | 1,265.1725 | 13,779.3031 | 968.6477 | 4,184.3261 | 4,367.5365 | 1,037.8368 | 3,244.9032 | 988.416 | 1,107.0259 | 909.3427 | 593.0496 | 1,166.3309 | 1,265.1725 | 1,057.6051 | 968.6477 | 968.6477 | 968.6477 |
| Holiday pay and holiday allowance accrued | LIABILITIES | People | 340,285.275 | 359,263.3688 | 378,342.525 | 390,723.7125 | 407,731.9125 | 261,704.4375 | 265,961.4375 | 257,447.4375 | 271,145.6756 | 290,052.8149 | 311,133.0208 | 333,601.0172 | 356,440.5081 | 377,465.5914 | 398,657.8178 | 412,709.9732 | 432,256.9675 | 261,128.7001 | 266,070.3954 | 256,188.2868 | 272,246.7617 | 293,863.9715 | 317,334.0836 | 331,539.6776 | 333,601.0172 | 331,539.6776 |
| Christmas allowance accrued | LIABILITIES | People | 13,334.0625 | 26,889.8438 | 40,517.8125 | 53,975.625 | 67,263.2812 | 80,442.6562 | 93,745.7812 | 107,048.9062 | 120,220.2891 | 133,725.3886 | -13,868.5565 | 0 | 15,025.9809 | 30,043.8975 | 45,181.2021 | 60,455.284 | 75,726.3733 | 91,171.1628 | 106,613.9607 | 122,054.7554 | 137,495.5966 | 152,936.4607 | -15,440.8633 | 0 | 0 | 0 |
| Corporate income tax payable / (recoverable) | LIABILITIES | Tax | 111,026.9539 | 119,147.9582 | 131,938.1174 | 147,415.0939 | 158,721.9006 | 53,045.2658 | -8,242.1246 | -419.6435 | -56,186.3623 | -39,806.7044 | -24,635.9072 | -79,569.1444 | -70,531.0331 | -57,647.5886 | -44,701.0842 | -30,161.8158 | -17,803.8807 | -1,123.8508 | -26,804.279 | -15,375.5706 | 40,139.281 | 57,724.9784 | 74,218.8744 | 50,851.4737 | -79,569.1444 | 50,851.4737 |
| Dividends payable | LIABILITIES | Financing | 0 | 0 | 360,000 | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| IRS withheld on dividends payable | LIABILITIES | Financing | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Provision: onerous projects (IAS 37) | LIABILITIES | Projects | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 1,671.4286 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank term loan | LIABILITIES | Financing | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | 500,000.08 | 900,000.04 | 500,000.08 |
| TOTAL LIABILITIES | LIABILITIES | 2,836,915.529 | 2,622,725.2435 | 3,072,668.4112 | 2,997,572.8577 | 2,726,711.7669 | 2,475,700.7651 | 2,215,487.1449 | 2,077,237.2972 | 2,215,957.0273 | 2,186,070.1659 | 2,091,007.2797 | 1,936,967.9093 | 2,350,970.4597 | 2,148,895.4948 | 2,184,613.6834 | 2,125,927.386 | 2,131,050.0021 | 2,064,148.5398 | 1,828,743.7282 | 1,733,426.2805 | 1,977,742.7116 | 1,951,123.2894 | 1,779,911.2577 | 1,675,405.973 | 1,936,967.9093 | 1,675,405.973 | |
| Share capital | EQUITY | Financing | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 |
| Legal reserve | EQUITY | Financing | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| Retained earnings: opening (memo) | EQUITY | 1,221,984.94 | 1,248,674.5456 | 1,283,687.4939 | 973,288.3554 | 1,033,308.825 | 1,077,157.1732 | 1,077,453.166 | 1,123,203.2815 | 1,153,539.2449 | 1,220,698.8035 | 1,284,219.9162 | 1,343,053.0078 | 1,413,444.8488 | 1,458,448.3341 | 1,511,633.8358 | 1,565,079.6617 | 1,625,100.7441 | 1,676,116.8349 | 1,744,975.4201 | 1,808,013.5317 | 1,855,193.5842 | 1,924,944.7163 | 1,997,542.0823 | 2,065,632.2685 | |||
| Net profit (memo) | EQUITY | PL | 26,689.6056 | 35,012.9482 | 49,600.8615 | 60,020.4696 | 43,848.3482 | 295.9929 | 45,750.1155 | 30,335.9634 | 67,159.5586 | 63,521.1127 | 58,833.0916 | 70,391.841 | 45,003.4853 | 53,185.5017 | 53,445.8259 | 60,021.0824 | 51,016.0909 | 68,858.5852 | 63,038.1116 | 47,180.0526 | 69,751.1321 | 72,597.366 | 68,090.1862 | 72,586.7635 | 551,459.9088 | 724,774.1832 |
| Dividends declared (memo) | EQUITY | Financing | 0 | 0 | -360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -360,000 | 0 |
| Retained earnings | EQUITY | 1,248,674.5456 | 1,283,687.4939 | 973,288.3554 | 1,033,308.825 | 1,077,157.1732 | 1,077,453.166 | 1,123,203.2815 | 1,153,539.2449 | 1,220,698.8035 | 1,284,219.9162 | 1,343,053.0078 | 1,413,444.8488 | 1,458,448.3341 | 1,511,633.8358 | 1,565,079.6617 | 1,625,100.7441 | 1,676,116.8349 | 1,744,975.4201 | 1,808,013.5317 | 1,855,193.5842 | 1,924,944.7163 | 1,997,542.0823 | 2,065,632.2685 | 2,138,219.032 | 1,413,444.8488 | 2,138,219.032 | |
| TOTAL EQUITY | EQUITY | 1,308,674.5456 | 1,343,687.4939 | 1,033,288.3554 | 1,093,308.825 | 1,137,157.1732 | 1,137,453.166 | 1,183,203.2815 | 1,213,539.2449 | 1,280,698.8035 | 1,344,219.9162 | 1,403,053.0078 | 1,473,444.8488 | 1,518,448.3341 | 1,571,633.8358 | 1,625,079.6617 | 1,685,100.7441 | 1,736,116.8349 | 1,804,975.4201 | 1,868,013.5317 | 1,915,193.5842 | 1,984,944.7163 | 2,057,542.0823 | 2,125,632.2685 | 2,198,219.032 | 1,473,444.8488 | 2,198,219.032 | |
| TOTAL LIABILITIES AND EQUITY | EQUITY | 4,145,590.0746 | 3,966,412.7374 | 4,105,956.7666 | 4,090,881.6826 | 3,863,868.94 | 3,613,153.9311 | 3,398,690.4264 | 3,290,776.5421 | 3,496,655.8308 | 3,530,290.0821 | 3,494,060.2875 | 3,410,412.7581 | 3,869,418.7938 | 3,720,529.3306 | 3,809,693.3451 | 3,811,028.1301 | 3,867,166.837 | 3,869,123.9599 | 3,696,757.2599 | 3,648,619.8648 | 3,962,687.4279 | 4,008,665.3717 | 3,905,543.5262 | 3,873,625.005 | 3,410,412.7581 | 3,873,625.005 | |
| 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 | |
| Net debt (loan less cash) | MEMO | 185,380.9685 | 42,077.1665 | -85,102.2166 | -88,962.9097 | -17,907.7153 | 219,520.3326 | 346,998.4193 | 191,280.4772 | 194,096.8125 | 219,168.5068 | 244,310.3585 | 195,774.5168 | 91,741.753 | -10,004.2267 | -173,624.3529 | -246,953.3247 | -389,478.0159 | -367,687.9355 | -331,248.576 | -557,624.4757 | -667,478.2634 | -640,808.8581 | -664,977.9267 | -704,217.3896 | 195,774.5168 | -704,217.3896 | |
| Trade working capital (receivables + stock - trade payables) | MEMO | 790,017.836 | 707,838.3854 | 636,134.6544 | 766,210.4169 | 661,952.2096 | 636,467.2128 | 690,059.4004 | 640,158.9399 | 610,866.1415 | 693,357.7311 | 847,351.0768 | 763,250.969 | 799,193.8835 | 818,230.318 | 739,194.331 | 769,430.61 | 744,085.5168 | 764,055.5001 | 785,304.55 | 701,530.0262 | 672,752.349 | 820,298.4724 | 838,093.6998 | 802,694.6177 | 763,250.969 | 802,694.6177 | |
| Contract liabilities, total | MEMO | 339,709.62 | 297,174.8633 | 290,560.9867 | 274,929.48 | 232,170.8333 | 243,339.0933 | 206,420.1233 | 176,480.28 | 162,123.3333 | 134,055.4167 | 131,977.5 | 113,856.25 | 333,588.3333 | 313,717 | 297,290.6667 | 278,092.6667 | 251,550.6667 | 232,959 | 208,400.6667 | 178,413 | 165,488.2667 | 144,940.3333 | 121,106 | 111,245.8 | 113,856.25 | 111,245.8 |
| 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 | 26,689.6056 | 35,012.9482 | 49,600.8615 | 60,020.4696 | 43,848.3482 | 295.9929 | 45,750.1155 | 30,335.9634 | 67,159.5586 | 63,521.1127 | 58,833.0916 | 70,391.841 | 45,003.4853 | 53,185.5017 | 53,445.8259 | 60,021.0824 | 51,016.0909 | 68,858.5852 | 63,038.1116 | 47,180.0526 | 69,751.1321 | 72,597.366 | 68,090.1862 | 72,586.7635 | 551,459.9088 | 724,774.1832 |
| Add back: depreciation and amortisation | OPERATING ACTIVITIES (indirect) | 9,266.67 | 9,316.67 | 9,402.7811 | 9,761.1144 | 9,811.1144 | 9,861.1144 | 9,947.2256 | 10,033.3367 | 10,083.3367 | 10,133.3367 | 10,291.67 | 10,439.0195 | 10,513.8749 | 10,734.1698 | 10,810.8541 | 10,923.6281 | 11,037.9875 | 11,116.2182 | 11,230.9636 | 11,310.0146 | 11,289.0562 | 8,368.5142 | 8,447.9675 | 8,527.416 | 118,347.3895 | 124,310.6647 | |
| (Increase) / decrease in customer receivables | OPERATING ACTIVITIES (indirect) | BS movement | -16,924.5931 | 244,805.6226 | -5,544.6739 | -52,388.3401 | 83,845.2161 | -25,120.9404 | 23,496.7154 | 153,971.8814 | -190,226.3241 | -73,267.6638 | -96,707.025 | 89,458.2312 | -228,461.2541 | 192,035.2656 | 31,301.6638 | 18,711.8664 | 7,975.7463 | -58,260.4197 | 61,838.8714 | 168,105.0967 | -197,082.1256 | -114,627.9881 | 44,359.4622 | 21,358.9046 | 135,398.1063 | -52,744.9106 |
| (Increase) / decrease in contract assets | OPERATING ACTIVITIES (indirect) | BS movement | 0 | -1,309.09 | -20,562.7 | 16,346.79 | -8,954.38 | 6,191.88 | 1,496.01 | 6,791.49 | -14,144.7619 | -25,427.619 | 39,572.381 | -8,800 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8,800 | 8,800 |
| (Increase) / decrease in hardware stock | OPERATING ACTIVITIES (indirect) | BS movement | 22,595.4 | -2,364.02 | -15,583.04 | 5,240.96 | 7,184.31 | -13,816.58 | 15,812.64 | 24,687.52 | -47,134.9073 | -4,969.3123 | 14,279.947 | 10,293.5756 | 8,191.1742 | -11,350.6271 | -2,574.369 | 5,597.3024 | -1,501.7153 | -12,887.4474 | 19,440.3868 | 26,211.7574 | -50,730.6722 | -4,969.3123 | 14,279.947 | 10,293.5756 | 16,226.4929 | 0 |
| (Increase) / decrease in prepaid licences, rebates receivable, deposit and capitalised commissions | OPERATING ACTIVITIES (indirect) | BS movement | -170,109.52 | 41,798.6267 | -510.3433 | 8,441.9227 | 32,537.9577 | 5,938.157 | 5,999.497 | 36,614.2683 | 1,193.7026 | 7,191.9829 | 15,622.2233 | 154.0093 | -179,419.7816 | 28,643.9401 | 5,644.4955 | 7,544.9983 | 38,356.9398 | 7,081.9503 | 12,929.6277 | 38,398.5903 | 1,837.1261 | 8,108.4262 | 29,730.3533 | 504.908 | -15,127.5158 | -638.426 |
| Increase / (decrease) in trade payables | OPERATING ACTIVITIES (indirect) | BS movement | 58,553.2071 | -160,262.152 | 92,831.4449 | -82,928.3824 | 13,228.6812 | 64,422.5172 | -92,901.543 | -128,758.9408 | 266,654.0298 | -4,254.6135 | -71,566.2676 | -15,651.699 | 184,327.1654 | -199,721.073 | 50,308.6922 | -54,545.4479 | 18,871.0623 | 51,177.8838 | -102,528.3081 | -110,542.3303 | 276,590.4749 | -27,948.8229 | -76,434.6365 | 3,746.6019 | -60,633.7182 | 13,301.2619 |
| Increase / (decrease) in contract liabilities and SLA credits due | OPERATING ACTIVITIES (indirect) | BS movement | 212,741.17 | -42,534.7567 | -3,378.1467 | -14,025.5267 | -42,159.3167 | 9,547.34 | -29,425.08 | -32,253.4533 | -15,038.0758 | -35,741.8208 | 6,453.4647 | -26,841.3546 | 220,343.7581 | -19,220.4829 | -18,145.502 | -19,198 | -26,542 | -18,591.6667 | -24,558.3333 | -28,578.9535 | -14,333.4465 | -20,547.9333 | -23,834.3333 | -9,860.2 | -12,655.5565 | -3,067.0935 |
| Increase / (decrease) in payroll liabilities (TSU, IRS, commissions, holiday and Christmas accruals) | OPERATING ACTIVITIES (indirect) | BS movement | 34,990.5053 | 33,482.7849 | 37,951.4614 | 22,195.3859 | 31,427.8169 | -71,219.016 | -42,301.5895 | 943.9149 | 24,386.6802 | 34,191.1754 | -46,625.9108 | -37,073.2861 | 42,122.7766 | 37,482.6131 | 33,569.4959 | 30,782.1832 | 33,437.3954 | -80,201.8889 | -55,245.8837 | 5,153.586 | 31,945.4848 | 37,387.8016 | -70,187.5835 | -45,413.4697 | 22,349.9223 | 832.5106 |
| Increase / (decrease) in VAT, IRC and withholdings | OPERATING ACTIVITIES (indirect) | BS movement | -11,383.4134 | -11,542.8316 | -4,128.262 | 32,996.2997 | 19,175.0579 | -129,775.653 | -57,520.6477 | 58,060.5317 | -103,113.8628 | 10,087.4418 | 50,844.8719 | -41,139.7008 | 542.1803 | 12,717.3079 | 3,318.8326 | 17,608.2973 | 12,689.4884 | 14,047.5395 | -19,738.9564 | 71,983.5801 | -16,552.7521 | 17,822.8624 | 32,577.8517 | -19,644.8869 | -187,440.1683 | 127,371.3447 |
| Increase / (decrease) in the onerous project provision | OPERATING ACTIVITIES (indirect) | BS movement | 0 | 0 | 0 | 0 | 0 | 10,147.14 | -4,731.43 | -2,908.57 | -835.7114 | -835.7143 | -835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| NET CASH FROM OPERATING ACTIVITIES | OPERATING ACTIVITIES (indirect) | 166,419.0315 | 146,403.802 | 140,079.3831 | 5,660.6931 | 189,944.8056 | -133,528.0479 | -124,378.0867 | 157,517.9421 | -1,016.3354 | -19,371.6943 | -19,837.2684 | 51,230.6362 | 111,963.3791 | 104,506.6152 | 167,679.989 | 77,445.9101 | 145,340.9953 | -17,659.2457 | -33,593.5206 | 229,221.3939 | 112,714.2776 | -23,809.0863 | 27,029.2145 | 42,099.613 | 559,124.861 | 942,939.535 | |
| Capital expenditure (IT equipment) | INVESTING ACTIVITIES | Fixed_Assets | -1,800 | -3,100 | -12,900 | -1,800 | -1,800 | -3,100 | -3,100 | -1,800 | -1,800 | -5,700 | -5,304.5833 | -2,694.7945 | -7,930.6152 | -2,760.6355 | -4,059.8628 | -4,116.9383 | -2,816.304 | -4,130.8347 | -2,845.8389 | -2,845.4942 | -2,860.4899 | -2,860.3189 | -2,860.146 | -2,860.15 | -44,899.3778 | -42,947.6285 |
| NET CASH FROM INVESTING ACTIVITIES | INVESTING ACTIVITIES | -1,800 | -3,100 | -12,900 | -1,800 | -1,800 | -3,100 | -3,100 | -1,800 | -1,800 | -5,700 | -5,304.5833 | -2,694.7945 | -7,930.6152 | -2,760.6355 | -4,059.8628 | -4,116.9383 | -2,816.304 | -4,130.8347 | -2,845.8389 | -2,845.4942 | -2,860.4899 | -2,860.3189 | -2,860.146 | -2,860.15 | -44,899.3778 | -42,947.6285 | |
| Bank loan repaid | FINANCING ACTIVITIES | BS movement | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -399,999.96 | -399,999.96 |
| Dividends paid incl. the IRS withheld paid to the State | FINANCING ACTIVITIES | declared + movement in dividends and withholding payable | 0 | 0 | 0 | 0 | -259,200 | -100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -360,000 | 0 |
| NET CASH FROM FINANCING ACTIVITIES | FINANCING ACTIVITIES | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -292,533.33 | -134,133.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -759,999.96 | -399,999.96 | |
| NET CASH FLOW FOR THE MONTH | CASH | 131,285.7015 | 109,970.472 | 93,846.0531 | -29,472.6369 | -104,388.5244 | -270,761.3779 | -160,811.4167 | 122,384.6121 | -36,149.6654 | -58,405.0243 | -58,475.1817 | 15,202.5117 | 70,699.4339 | 68,412.6497 | 130,286.7962 | 39,995.6418 | 109,191.3612 | -55,123.4104 | -69,772.6895 | 193,042.5697 | 76,520.4578 | -60,002.7353 | -9,164.2615 | 5,906.133 | -245,774.4768 | 499,991.9465 | |
| Opening cash | CASH | 950,000 | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 805,903.2175 | 747,498.1932 | 689,023.0115 | 704,225.5232 | 774,924.957 | 843,337.6067 | 973,624.4029 | 1,013,620.0447 | 1,122,811.4059 | 1,067,687.9955 | 997,915.306 | 1,190,957.8757 | 1,267,478.3334 | 1,207,475.5981 | 1,198,311.3367 | |||
| CLOSING CASH (to balance sheet) | CASH | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 805,903.2175 | 747,498.1932 | 689,023.0115 | 704,225.5232 | 774,924.957 | 843,337.6067 | 973,624.4029 | 1,013,620.0447 | 1,122,811.4059 | 1,067,687.9955 | 997,915.306 | 1,190,957.8757 | 1,267,478.3334 | 1,207,475.5981 | 1,198,311.3367 | 1,204,217.4696 | 704,225.5232 | 1,204,217.4696 | |
| Free cash flow (operating less capex, before financing) | CASH | memo | 164,619.0315 | 143,303.802 | 127,179.3831 | 3,860.6931 | 188,144.8056 | -136,628.0479 | -127,478.0867 | 155,717.9421 | -2,816.3354 | -25,071.6943 | -25,141.8517 | 48,535.8417 | 104,032.7639 | 101,745.9797 | 163,620.1262 | 73,328.9718 | 142,524.6912 | -21,790.0804 | -36,439.3595 | 226,375.8997 | 109,853.7878 | -26,669.4053 | 24,169.0685 | 39,239.463 | 514,225.4832 | 899,991.9065 |
| Receipts: customers in Portugal | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 858,639.12 | 855,237.39 | 696,752.39 | 683,693.77 | 729,320.38 | 690,855.75 | 685,015.9 | 671,031.68 | 570,920.8309 | 691,637.5402 | 760,620.4365 | 836,074.3703 | 780,349.5708 | 922,229.9481 | 800,835.9064 | 770,333.1328 | 756,124.4157 | 748,574.4585 | 788,039.0442 | 749,086.3503 | 636,576.7772 | 762,582.2477 | 844,040.9129 | 815,711.9637 | 8,729,799.558 | 9,374,484.7284 |
| Receipts: customers in Spain | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 79,177.2092 | 93,071.3287 | 92,482.6025 | 91,936.101 | 87,956.2321 | 91,887.9466 | 108,153.2525 | 89,081.9799 | 94,214.1179 | 94,274.9274 | 93,930.4383 | 97,585.1047 | 87,908.5102 | 80,052.6161 | 101,487.1341 | 103,761.6941 | 1,138,187.5214 | 1,130,293.9538 |
| Rebates and incentives received | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 32,143.3 | 0 | 0 | 23,683.86 | 0 | 0 | 19,254.82 | 0 | 0 | 17,703.999 | 0 | 0 | 21,029.9548 | 0 | 0 | 24,457.3288 | 0 | 0 | 19,814.2674 | 0 | 0 | 18,313.3489 | 0 | 92,785.979 | 83,614.8999 |
| IRC refunded | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 79,569.1444 | 0 | 0 | 0 | 0 | 79,569.1444 |
| Net pay and meal cards | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -109,386.22 | -110,723.56 | -111,188.41 | -111,996.97 | -108,117.18 | -203,064.63 | -107,552.39 | -109,658 | -107,045.967 | -110,870.5383 | -209,971.1936 | -120,717.2862 | -122,448.9003 | -124,136.6365 | -125,373.1978 | -123,951.4774 | -125,753.3686 | -235,232.9767 | -124,558.5842 | -123,044.3377 | -125,269.5206 | -126,129.45 | -235,291.6843 | -125,374.8367 | -1,520,292.3452 | -1,716,564.9708 |
| Work accident and health insurance | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -3,533.66 | -3,588.24 | -3,595.58 | -3,546.26 | -3,496.94 | -3,485.91 | -3,530.51 | -3,530.51 | -3,494.8196 | -3,602.7723 | -3,703.138 | -3,700.6751 | -4,007.0624 | -4,004.8208 | -4,048.3526 | -4,094.7284 | -4,093.6785 | -4,143.7944 | -4,143.222 | -4,142.644 | -4,142.6574 | -4,142.664 | -4,142.6638 | -4,142.6637 | -42,809.0151 | -49,248.9519 |
| Social security (20th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -44,038.67 | -45,315.69 | -45,932.9 | -46,187.05 | -46,962.7 | -45,041.5 | -90,165.95 | -45,140.12 | -46,692.32 | -44,543.7697 | -45,835.608 | -92,428.0786 | -50,571.9763 | -50,905.0063 | -51,780.8208 | -52,234.5689 | -51,760.4606 | -52,370.1383 | -104,366.0758 | -52,348.4112 | -52,286.1497 | -52,197.4891 | -52,358.548 | -104,003.9332 | -638,284.3563 | -727,183.5783 |
| IRS withheld (20th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -19,781.39 | -20,355.69 | -20,648.52 | -20,834.62 | -21,215.21 | -20,426.49 | -40,607.39 | -20,243.89 | -20,916.9 | -19,986.6785 | -20,374.9353 | -41,156.1624 | -22,413.0811 | -23,121.6775 | -23,502.2658 | -23,618.1822 | -23,341.17 | -23,607.2913 | -46,974.3329 | -23,559.3037 | -23,532.7582 | -23,494.3062 | -23,564.1334 | -46,845.9439 | -286,547.8762 | -327,574.4462 |
| IRC withheld on rent (20th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -2,560.97 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -31,435.97 | -32,221.875 |
| Hardware distributors | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -265,273.96 | -171,017.48 | -213,959.75 | -259,420.58 | -209,385.41 | -218,285.26 | -272,849.15 | -190,772.21 | -99,562.9463 | -321,225.0624 | -291,670.6286 | -221,144.6188 | -205,969.5324 | -186,246.2381 | -219,206.3529 | -237,413.5779 | -205,053.1741 | -224,939.5898 | -265,715.1379 | -181,333.4059 | -101,615.0264 | -325,647.8532 | -291,670.6286 | -221,144.6188 | -2,734,567.0561 | -2,665,955.136 |
| Licence distributor | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -193,719.66 | -349,276.45 | -139,566.97 | -159,995.68 | -146,302.45 | -141,212.09 | -151,673.02 | -141,778.32 | -118,786.577 | -159,519.0123 | -156,769.6441 | -163,621.3376 | -182,444.7759 | -367,204.5356 | -148,183.1233 | -165,929.7367 | -153,168.4023 | -149,979.3391 | -161,383.2693 | -149,740.6936 | -126,935.4066 | -169,873.0626 | -167,277.282 | -169,292.8031 | -2,022,221.2111 | -2,111,412.4302 |
| Tooling vendor in USD (15th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -19,321.57 | -19,196.39 | -19,532.52 | -20,019.3 | -20,160.36 | -19,710.27 | -19,650.61 | -20,065.48 | -20,449.9171 | -20,483.1279 | -20,412.6609 | -21,502.7645 | -21,488.8472 | -21,742.3686 | -22,031.3846 | -21,899.6162 | -22,065.9334 | -22,084.2682 | -22,121.9403 | -22,142.4359 | -22,061.6372 | -22,099.3074 | -22,125.0353 | -22,133.7313 | -240,504.9704 | -263,996.5057 |
| Other suppliers incl. VAT and IT equipment | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -41,041.89 | -38,265.72 | -44,873.9 | -71,149.64 | -51,792.63 | -61,416.53 | -60,928.04 | -59,626.62 | -45,069.4557 | -48,958.8393 | -77,078.4948 | -68,096.4398 | -48,810.3062 | -67,847.4849 | -53,898.6934 | -68,385.3156 | -58,795.2888 | -60,950.6638 | -59,911.3971 | -53,386.9012 | -45,449.0361 | -55,031.3581 | -63,629.8124 | -55,696.9686 | -668,298.1996 | -691,793.2262 |
| Direct debits: insurance, travel, telecoms, vans | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -16,102.1185 | -15,925.6652 | -14,697.0943 | -14,607.3129 | -15,080.9995 | -15,945.7674 | -15,615.2122 | -16,004.1479 | -15,740.7 | -15,686.0452 | -15,687.328 | -15,687.9506 | -16,080.1266 | -16,080.1194 | -16,080.1198 | -16,889.8699 | -16,880.4228 | -16,871.0859 | -16,871.3051 | -16,871.4114 | -16,871.4076 | -16,871.4064 | -16,871.4065 | -16,871.4065 | -186,780.3417 | -200,110.0881 |
| Rent, net of the IRC withheld | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -94,500 | -96,862.5 |
| VAT | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -72,032.56 | -63,480.47 | -55,311.12 | -43,816.63 | -38,392.7 | -61,335.95 | -46,260.95 | 0 | -87,264.6245 | -50,238.0505 | -39,917.4807 | -43,945.8343 | -75,591.5554 | -57,739.3708 | -67,029.9993 | -57,573.2342 | -57,402.3275 | -60,642.2631 | -57,733.8808 | 0 | -121,685.1252 | -60,554.8717 | -49,617.5215 | -60,792.0368 | -601,996.3701 | -726,362.1862 |
| IRC: payments on account and balance | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | 0 | -105,752.96 | -73,084.59 | 0 | -73,084.5925 | 0 | 0 | -73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | -40,950.5298 | 0 | -40,950.5298 | 0 | 0 | -40,950.5298 | -325,006.735 | -122,851.5894 |
| Loan interest | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -4,752.58 | -4,640.22 | -4,699 | -4,704 | -4,652.08 | -4,578.67 | -4,477.92 | -4,409.78 | -4,305.5557 | -4,166.6668 | -4,027.7779 | -3,888.889 | -3,750.0002 | -3,611.1113 | -3,472.2224 | -3,333.3335 | -3,194.4447 | -3,055.5558 | -2,916.6669 | -2,777.778 | -2,638.8892 | -2,500.0003 | -2,361.1114 | -2,222.2225 | -53,303.1394 | -35,833.3363 |
| Loan principal | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -399,999.96 | -399,999.96 |
| Dividends paid, net | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | -259,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -259,200 | 0 |
| IRS withheld on dividends paid to the State | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | 0 | -100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -100,800 | 0 |
| NET CASH FLOW, DIRECT METHOD | DIRECT METHOD (built from the cash lines of each schedule) | 131,285.6915 | 109,970.4548 | 93,846.0557 | -29,472.6229 | -104,388.5295 | -270,761.3774 | -160,811.4122 | 122,384.6121 | -36,149.6654 | -58,405.0243 | -58,475.1817 | 15,202.5117 | 70,699.4339 | 68,412.6497 | 130,286.7962 | 39,995.6418 | 109,191.3612 | -55,123.4104 | -69,772.6895 | 193,042.5697 | 76,520.4578 | -60,002.7353 | -9,164.2615 | 5,906.133 | -245,774.4876 | 499,991.9465 | |
| CHECK: indirect less direct (must be zero) | DIRECT METHOD (built from the cash lines of each schedule) | 0.01 | 0.02 | 0 | -0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.03 | 0 |
Operating drivers
Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C01 Brevanor Têxteis, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 422 | 423 | 422 | 423 | 423 | 424 | 424 | 425 | 425.85 | 426.7017 | 427.5551 | 428.4102 | 429.267 | 430.1256 | 387.8872 | 388.663 | 389.4403 | 390.2192 | 390.9997 | 391.7817 | 392.5652 | 393.3503 | 394.1371 | 394.9253 | 428.4102 | 394.9253 |
| C02 Clínicas Almedra, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 260 | 262 | 262 | 263 | 265 | 266 | 267 | 269 | 270.076 | 271.1563 | 272.2409 | 273.3299 | 274.4232 | 275.5209 | 276.623 | 277.7295 | 278.8404 | 279.9558 | 281.0756 | 282.1999 | 283.3287 | 284.462 | 285.5998 | 286.7422 | 273.3299 | 286.7422 |
| C03 Solvinha Calçado, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 150 | 151 | 152 | 152 | 153 | 153 | 153 | 153 | 153.153 | 141.0417 | 141.1827 | 141.3239 | 141.4652 | 141.6067 | 141.7483 | 141.89 | 142.0319 | 142.174 | 142.3161 | 142.4584 | 142.6009 | 142.7435 | 142.8862 | 143.0291 | 141.3239 | 143.0291 |
| C04 Valcorra Advogados | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 95 | 95 | 95 | 96 | 96 | 96 | 95 | 96 | 96.192 | 96.3844 | 96.5772 | 96.7703 | 96.9638 | 97.1578 | 97.3521 | 97.5468 | 97.7419 | 97.9374 | 98.1332 | 98.3295 | 98.5262 | 98.7232 | 98.9207 | 99.1185 | 96.7703 | 99.1185 |
| C05 Colégios Maravel | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 311 | 312 | 312 | 312 | 312 | 312 | 313 | 314 | 314.628 | 315.2573 | 315.8878 | 316.5195 | 317.1526 | 317.7869 | 318.4225 | 319.0593 | 319.6974 | 320.3368 | 320.9775 | 299.1061 | 299.7043 | 300.3037 | 300.9043 | 301.5061 | 316.5195 | 301.5061 |
| C06 Metalúrgica Vaurinho, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 121 | 121 | 122 | 122 | 121 | 122 | 122 | 122 | 122.122 | 122.2441 | 122.3664 | 122.4887 | 122.6112 | 122.7338 | 122.8566 | 122.9794 | 123.1024 | 123.2255 | 123.3487 | 123.4721 | 123.5956 | 123.7191 | 123.8429 | 123.9667 | 122.4887 | 123.9667 |
| C07 Quintas Delvara, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 86 | 86 | 87 | 87 | 87 | 87 | 88 | 88 | 88.264 | 88.5288 | 88.7944 | 89.0608 | 89.3279 | 83.3242 | 83.5742 | 83.8249 | 84.0764 | 84.3286 | 84.5816 | 84.8353 | 85.0898 | 85.3451 | 85.6012 | 85.858 | 89.0608 | 85.858 |
| C08 Farmácias Oliveda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 180 | 181 | 182 | 183 | 184 | 185 | 185 | 185 | 185.555 | 186.1117 | 186.67 | 187.23 | 187.7917 | 188.3551 | 188.9201 | 189.4869 | 190.0554 | 190.6255 | 191.1974 | 191.771 | 192.3463 | 192.9233 | 193.5021 | 194.0826 | 187.23 | 194.0826 |
| C09 Moldivel Plásticos, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 139 | 140 | 140 | 141 | 142 | 142 | 142 | 143 | 143.286 | 143.5726 | 143.8597 | 144.1474 | 144.4357 | 144.7246 | 145.0141 | 145.3041 | 145.5947 | 145.8859 | 146.1776 | 146.47 | 146.7629 | 147.0565 | 147.3506 | 147.6453 | 144.1474 | 147.6453 |
| C10 Pravel Contabilidade, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 60 | 60 | 60 | 60 | 60 | 61 | 61 | 61 | 61.122 | 61.2442 | 61.3667 | 61.4895 | 61.6124 | 61.7357 | 61.8591 | 61.9829 | 62.1068 | 62.231 | 62.3555 | 62.4802 | 62.6052 | 59.5939 | 59.7131 | 59.8325 | 61.4895 | 59.8325 |
| C11 Hotéis Alvenosa | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 130 | 131 | 131 | 131 | 131 | 131 | 131 | 132 | 132.264 | 132.5285 | 132.7936 | 133.0592 | 133.3253 | 133.5919 | 133.8591 | 134.1268 | 134.3951 | 134.6639 | 134.9332 | 135.2031 | 135.4735 | 135.7444 | 136.0159 | 136.288 | 133.0592 | 136.288 |
| C12 Cerâmicas Lovredo, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 110 | 110 | 111 | 110 | 110 | 111 | 111 | 111 | 111.111 | 111.2221 | 103.54 | 103.6435 | 103.7472 | 103.8509 | 103.9548 | 104.0587 | 104.1628 | 104.267 | 104.3712 | 104.4756 | 104.5801 | 104.6847 | 104.7893 | 104.8941 | 103.6435 | 104.8941 |
| C13 Castelvi Imobiliária | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 70 | 70 | 70 | 71 | 71 | 71 | 71 | 71 | 71.213 | 71.4266 | 71.6409 | 71.8558 | 72.0714 | 72.2876 | 72.5045 | 72.722 | 72.9402 | 73.159 | 73.3785 | 73.5986 | 73.8194 | 74.0409 | 74.263 | 74.4858 | 71.8558 | 74.4858 |
| C14 Agrícola Vinhedal | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 90 | 91 | 91 | 91 | 92 | 92 | 92 | 92 | 92.184 | 92.3684 | 92.5531 | 92.7382 | 92.9237 | 93.1095 | 93.2958 | 93.4823 | 93.6693 | 93.8566 | 94.0444 | 94.2325 | 94.4209 | 94.6098 | 94.799 | 94.9886 | 92.7382 | 94.9886 |
| C15 Engenharia Morvelo, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 75 | 76 | 76 | 77 | 77 | 77 | 77 | 78 | 78.234 | 78.4687 | 78.7041 | 78.9402 | 79.177 | 79.4146 | 79.6528 | 79.8918 | 75.3236 | 75.5495 | 75.7762 | 76.0035 | 76.2315 | 76.4602 | 76.6896 | 76.9197 | 78.9402 | 76.9197 |
| C16 Cooperativa Leiteira Bravanha | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 160 | 160 | 160 | 161 | 160 | 161 | 161 | 162 | 162.162 | 149.3382 | 149.4876 | 149.6371 | 149.7867 | 149.9365 | 150.0864 | 150.2365 | 150.3867 | 150.5371 | 150.6877 | 150.8383 | 150.9892 | 151.1402 | 151.2913 | 151.4426 | 149.6371 | 151.4426 |
| C17 Laboratórios Cendral, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 116 | 116 | 117 | 118 | 118 | 119 | 119 | 119 | 119.476 | 119.9539 | 120.4337 | 120.9155 | 121.3991 | 121.8847 | 122.3723 | 122.8617 | 123.3532 | 123.8466 | 124.342 | 118.5974 | 119.0718 | 119.5481 | 120.0263 | 120.5064 | 120.9155 | 120.5064 |
| C18 Mediavir Seguros | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 55 | 55 | 55 | 55 | 55 | 56 | 56 | 56 | 56.168 | 56.3365 | 56.5055 | 56.675 | 56.8451 | 57.0156 | 57.1866 | 57.3582 | 57.5303 | 57.7029 | 57.876 | 58.0496 | 58.2237 | 58.3984 | 58.5736 | 58.7493 | 56.675 | 58.7493 |
| C19 Construtora Arvedo, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 145 | 145 | 145 | 145 | 146 | 146 | 147 | 147 | 147.294 | 147.5886 | 147.8838 | 148.1795 | 148.4759 | 148.7728 | 149.0704 | 149.3685 | 149.6673 | 149.9666 | 150.2665 | 150.5671 | 150.8682 | 151.1699 | 151.4723 | 151.7752 | 148.1795 | 151.7752 |
| C20 Distribuidora Pellano, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 125 | 126 | 126 | 127 | 127 | 127 | 128 | 128 | 128.256 | 128.5125 | 128.7695 | 129.0271 | 120.2352 | 120.4756 | 120.7166 | 120.958 | 121.1999 | 121.4423 | 121.6852 | 121.9286 | 122.1725 | 122.4168 | 122.6616 | 122.907 | 129.0271 | 122.907 |
| C21 Gráfica Tornavel, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 |
| C22 Óticas Lumarel | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 95 | 96 | 96 | 96 | 96 | 96 | 97 | 97 | 97.291 | 97.5829 | 97.8756 | 98.1692 | 98.4638 | 98.7591 | 99.0554 | 99.3526 | 99.6506 | 99.9496 | 100.2494 | 100.5502 | 100.8518 | 101.1544 | 95.3704 | 95.6565 | 98.1692 | 95.6565 |
| C23 Salmeira Arquitetos | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 40 | 40 | 40 | 41 | 41 | 41 | 41 | 41 | 41.123 | 41.2464 | 41.3701 | 41.4942 | 41.6187 | 41.7436 | 41.8688 | 41.9944 | 42.1204 | 42.2467 | 42.3735 | 42.5006 | 42.6281 | 42.756 | 42.8843 | 43.0129 | 41.4942 | 43.0129 |
| C24 Traslovia Transportes, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 151 | 151 | 150 | 150 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| C25 Conservas Brelmar, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 140 | 141 | 142 | 142 | 141 | 141 | 142 | 143 | 143.286 | 143.5726 | 143.8597 | 144.1474 | 144.4357 | 144.7246 | 145.0141 | 135.1328 | 135.4031 | 135.6739 | 135.9452 | 136.2171 | 136.4895 | 136.7625 | 137.036 | 137.3101 | 144.1474 | 137.3101 |
| C26 Talleres Brañoso, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 90 | 90 | 90 | 91 | 91 | 91 | 91 | 92 | 92.184 | 92.3684 | 92.5531 | 92.7382 | 92.9237 | 93.1095 | 93.2958 | 93.4823 | 93.6693 | 93.8566 | 94.0444 | 94.2325 | 94.4209 | 94.6098 | 94.799 | 94.9886 | 92.7382 | 94.9886 |
| C27 Clínica Veigadal, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 70 | 70 | 71 | 71 | 72 | 72 | 72 | 73 | 73.219 | 73.4387 | 73.659 | 73.8799 | 74.1016 | 74.3239 | 74.5469 | 74.7705 | 74.9948 | 75.2198 | 75.4455 | 75.6718 | 75.8988 | 76.1265 | 76.3549 | 76.584 | 73.8799 | 76.584 |
| C28 Maderas Ouriñal, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 80 | 80 | 81 | 81 | 81 | 81 | 81 | 80 | 80.08 | 80.1601 | 80.2402 | 80.3205 | 80.4008 | 80.4812 | 80.5617 | 80.6422 | 80.7229 | 80.8036 | 80.8844 | 80.9653 | 81.0463 | 81.1273 | 81.2084 | 81.2896 | 80.3205 | 81.2896 |
| C29 Pesqueras Morazal, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 95 | 95 | 95 | 95 | 95 | 95 | 94 | 95 | 95.095 | 95.1901 | 95.2853 | 83.9349 | 84.0188 | 84.1029 | 84.187 | 84.2711 | 84.3554 | 84.4398 | 84.5242 | 84.6087 | 84.6933 | 84.778 | 84.8628 | 84.9477 | 83.9349 | 84.9477 |
| C30 Bodegas Quenlla, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 55 | 55 | 56 | 56 | 56 | 56 | 56 | 56 | 56.112 | 56.2242 | 56.3367 | 56.4493 | 56.5622 | 56.6754 | 56.7887 | 56.9023 | 57.0161 | 57.1301 | 53.2373 | 53.3438 | 53.4504 | 53.5573 | 53.6645 | 53.7718 | 56.4493 | 53.7718 |
| C31 Ferroval Automação, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 0 | 0 | 80 | 80 | 81 | 81 | 81 | 81 | 81.324 | 81.6493 | 81.9759 | 82.3038 | 82.633 | 82.9635 | 83.2954 | 83.6286 | 83.9631 | 84.2989 | 84.6361 | 84.9747 | 85.3146 | 85.6558 | 85.9985 | 86.3425 | 82.3038 | 86.3425 |
| C32 Clínica Dentária Rosmel | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 0 | 0 | 0 | 0 | 66 | 66 | 67 | 67 | 67.268 | 67.5371 | 67.8072 | 68.0784 | 68.3508 | 68.6242 | 68.8987 | 69.1743 | 69.451 | 69.7288 | 70.0077 | 70.2877 | 70.5689 | 70.8511 | 71.1345 | 71.4191 | 68.0784 | 71.4191 |
| C33 Mobiliário Tarvela, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 0 | 0 | 0 | 0 | 0 | 0 | 108 | 109 | 109.327 | 109.655 | 109.9839 | 110.3139 | 110.6448 | 110.9768 | 111.3097 | 111.6436 | 111.9786 | 112.3145 | 112.6514 | 112.9894 | 113.3284 | 113.6684 | 114.0094 | 114.3514 | 110.3139 | 114.3514 |
| P01 Grupo Hospitalar Venara (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 264 | 264.792 | 265.5864 | 266.3831 | 267.1823 | 267.9838 | 268.7878 | 269.5941 | 270.4029 | 271.2141 | 272.0278 | 272.8439 | 273.6624 | 274.4834 | 264.792 | 274.4834 |
| P02 Exportadora Linhelo, S.A. (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60 | 60.18 | 60.3605 | 60.5416 | 60.7232 | 60.9054 | 61.0881 | 61.2714 | 61.4552 | 61.6396 | 61.8245 | 62.01 | 0 | 62.01 |
| P03 Logística Crastova, Lda (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 63 | 63.126 | 63.2523 | 63.3788 | 63.5055 | 63.6325 | 63.7598 | 63.8873 | 64.0151 | 64.1431 | 64.2714 | 0 | 64.2714 |
| P04 Conservas Galmira, S.L. (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 40 | 40.08 | 40.1602 | 40.2405 | 40.321 | 40.4016 | 40.4824 | 40.5634 | 40.6445 | 0 | 40.6445 |
| C01 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 95 | 95 | 95 | 96 | 96 | 96 | 96 | 96 | 96.096 | 96.1921 | 96.2883 | 96.3846 | 96.481 | 96.5774 | 87.0066 | 87.0936 | 87.1807 | 87.2679 | 87.3552 | 87.4425 | 87.53 | 87.6175 | 87.7051 | 87.7928 | 96.3846 | 87.7928 |
| C02 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70.14 | 70.2803 | 70.4208 | 70.5617 | 70.7028 | 70.8442 | 70.9859 | 71.1279 | 71.2701 | 71.4127 | 71.5555 | 71.6986 | 71.842 | 71.9857 | 72.1297 | 72.2739 | 70.5617 | 72.2739 |
| C03 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38.019 | 34.995 | 35.0125 | 35.03 | 35.0475 | 35.065 | 35.0825 | 35.1001 | 35.1176 | 35.1352 | 35.1528 | 35.1703 | 35.1879 | 35.2055 | 35.2231 | 35.2407 | 35.03 | 35.2407 |
| C04 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22.022 | 22.044 | 22.0661 | 22.0881 | 22.1102 | 22.1323 | 22.1545 | 22.1766 | 22.1988 | 22.221 | 22.2432 | 22.2655 | 22.2877 | 22.31 | 22.3323 | 22.3547 | 22.0881 | 22.3547 |
| C05 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 85 | 85 | 85 | 85 | 86 | 86 | 86 | 87 | 87.087 | 87.1741 | 87.2613 | 87.3485 | 87.4359 | 87.5233 | 87.6108 | 87.6984 | 87.7861 | 87.8739 | 87.9618 | 81.8863 | 81.9682 | 82.0501 | 82.1322 | 82.2143 | 87.3485 | 82.2143 |
| C06 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40.02 | 40.04 | 40.06 | 40.0801 | 40.1001 | 40.1202 | 40.1402 | 40.1603 | 40.1804 | 40.2005 | 40.2206 | 40.2407 | 40.2608 | 40.2809 | 40.3011 | 40.3212 | 40.0801 | 40.3212 |
| C07 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 30 | 30 | 30 | 30 | 31 | 31 | 31 | 31 | 31.0465 | 31.0931 | 31.1397 | 31.1864 | 31.2332 | 29.0904 | 29.1341 | 29.1778 | 29.2215 | 29.2654 | 29.3093 | 29.3532 | 29.3973 | 29.4414 | 29.4855 | 29.5298 | 31.1864 | 29.5298 |
| C08 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 90 | 90 | 91 | 91 | 91 | 91 | 91 | 91 | 91.1365 | 91.2732 | 91.4101 | 91.5472 | 91.6846 | 91.8221 | 91.9598 | 92.0978 | 92.2359 | 92.3743 | 92.5128 | 92.6516 | 92.7906 | 92.9297 | 93.0691 | 93.2087 | 91.5472 | 93.2087 |
| C09 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45.045 | 45.09 | 45.1351 | 45.1803 | 45.2255 | 45.2707 | 45.3159 | 45.3613 | 45.4066 | 45.452 | 45.4975 | 45.543 | 45.5885 | 45.6341 | 45.6797 | 45.7254 | 45.1803 | 45.7254 |
| C10 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12.012 | 12.024 | 12.036 | 12.0481 | 12.0601 | 12.0722 | 12.0843 | 12.0963 | 12.1084 | 12.1205 | 12.1327 | 12.1448 | 12.1569 | 11.5606 | 11.5722 | 11.5838 | 12.0481 | 11.5838 |
| C11 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60.06 | 60.1201 | 60.1802 | 60.2404 | 60.3006 | 60.3609 | 60.4213 | 60.4817 | 60.5422 | 60.6027 | 60.6633 | 60.724 | 60.7847 | 60.8455 | 60.9063 | 60.9672 | 60.2404 | 60.9672 |
| C12 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36.018 | 36.036 | 33.5302 | 33.547 | 33.5638 | 33.5806 | 33.5974 | 33.6142 | 33.631 | 33.6478 | 33.6646 | 33.6814 | 33.6983 | 33.7151 | 33.732 | 33.7488 | 33.547 | 33.7488 |
| C13 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15.0225 | 15.045 | 15.0676 | 15.0902 | 15.1128 | 15.1355 | 15.1582 | 15.1809 | 15.2037 | 15.2265 | 15.2494 | 15.2722 | 15.2951 | 15.3181 | 15.3411 | 15.3641 | 15.0902 | 15.3641 |
| C14 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28.028 | 28.056 | 28.0841 | 28.1122 | 28.1403 | 28.1684 | 28.1966 | 28.2248 | 28.253 | 28.2813 | 28.3095 | 28.3379 | 28.3662 | 28.3946 | 28.423 | 28.4514 | 28.1122 | 28.4514 |
| C15 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20.03 | 20.06 | 20.0901 | 20.1203 | 20.1505 | 20.1807 | 20.2109 | 20.2413 | 19.0553 | 19.0839 | 19.1125 | 19.1412 | 19.1699 | 19.1987 | 19.2275 | 19.2563 | 20.1203 | 19.2563 |
| C16 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 52 | 52 | 52 | 52 | 52 | 53 | 52 | 52 | 52.026 | 47.8879 | 47.9118 | 47.9358 | 47.9597 | 47.9837 | 48.0077 | 48.0317 | 48.0557 | 48.0797 | 48.1038 | 48.1278 | 48.1519 | 48.176 | 48.2001 | 48.2242 | 47.9358 | 48.2242 |
| C17 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 42 | 42 | 42 | 43 | 43 | 43 | 43 | 43 | 43.086 | 43.1722 | 43.2585 | 43.345 | 43.4317 | 43.5186 | 43.6056 | 43.6928 | 43.7802 | 43.8678 | 43.9555 | 41.8413 | 41.9249 | 42.0088 | 42.0928 | 42.177 | 43.345 | 42.177 |
| C18 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10.015 | 10.03 | 10.0451 | 10.0601 | 10.0752 | 10.0903 | 10.1055 | 10.1206 | 10.1358 | 10.151 | 10.1662 | 10.1815 | 10.1968 | 10.2121 | 10.2274 | 10.2427 | 10.0601 | 10.2427 |
| C19 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38.038 | 38.076 | 38.1141 | 38.1522 | 38.1904 | 38.2286 | 38.2668 | 38.3051 | 38.3434 | 38.3817 | 38.4201 | 38.4585 | 38.497 | 38.5355 | 38.574 | 38.6126 | 38.1522 | 38.6126 |
| C20 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40.04 | 40.08 | 40.1201 | 40.1602 | 37.3864 | 37.4238 | 37.4612 | 37.4986 | 37.5361 | 37.5737 | 37.6113 | 37.6489 | 37.6865 | 37.7242 | 37.7619 | 37.7997 | 40.1602 | 37.7997 |
| C21 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| C22 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 50 | 50 | 50 | 50 | 51 | 51 | 51 | 51 | 51.0765 | 51.1531 | 51.2298 | 51.3067 | 51.3836 | 51.4607 | 51.5379 | 51.6152 | 51.6926 | 51.7702 | 51.8478 | 51.9256 | 52.0035 | 52.0815 | 49.03 | 49.1036 | 51.3067 | 49.1036 |
| C23 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9.0135 | 9.027 | 9.0406 | 9.0541 | 9.0677 | 9.0813 | 9.0949 | 9.1086 | 9.1222 | 9.1359 | 9.1496 | 9.1633 | 9.1771 | 9.1909 | 9.2046 | 9.2184 | 9.0541 | 9.2184 |
| C24 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 40 | 40 | 40 | 40 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| C25 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 45 | 45 | 46 | 46 | 46 | 46 | 47 | 47 | 47.047 | 47.094 | 47.1411 | 47.1883 | 47.2355 | 47.2827 | 47.33 | 44.0609 | 44.105 | 44.1491 | 44.1932 | 44.2374 | 44.2817 | 44.3259 | 44.3703 | 44.4146 | 47.1883 | 44.4146 |
| C26 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34.034 | 34.068 | 34.1021 | 34.1362 | 34.1703 | 34.2045 | 34.2387 | 34.273 | 34.3072 | 34.3415 | 34.3759 | 34.4103 | 34.4447 | 34.4791 | 34.5136 | 34.5481 | 34.1362 | 34.5481 |
| C27 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18.027 | 18.054 | 18.0811 | 18.1082 | 18.1354 | 18.1626 | 18.1899 | 18.2171 | 18.2445 | 18.2718 | 18.2992 | 18.3267 | 18.3542 | 18.3817 | 18.4093 | 18.4369 | 18.1082 | 18.4369 |
| C28 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30.015 | 30.03 | 30.045 | 30.06 | 30.0751 | 30.0901 | 30.1052 | 30.1202 | 30.1353 | 30.1503 | 30.1654 | 30.1805 | 30.1956 | 30.2107 | 30.2258 | 30.2409 | 30.06 | 30.2409 |
| C29 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36.018 | 36.036 | 36.054 | 31.7434 | 31.7593 | 31.7752 | 31.791 | 31.8069 | 31.8228 | 31.8388 | 31.8547 | 31.8706 | 31.8865 | 31.9025 | 31.9184 | 31.9344 | 31.7434 | 31.9344 |
| C30 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20.02 | 20.04 | 20.0601 | 20.0801 | 20.1002 | 20.1203 | 20.1404 | 20.1606 | 20.1807 | 20.2009 | 18.8056 | 18.8244 | 18.8433 | 18.8621 | 18.881 | 18.8998 | 20.0801 | 18.8998 |
| C31 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 0 | 0 | 28 | 28 | 28 | 28 | 28 | 29 | 29.058 | 29.1161 | 29.1743 | 29.2327 | 29.2912 | 29.3497 | 29.4084 | 29.4673 | 29.5262 | 29.5852 | 29.6444 | 29.7037 | 29.7631 | 29.8226 | 29.8823 | 29.9421 | 29.2327 | 29.9421 |
| C32 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 0 | 0 | 0 | 0 | 20 | 20 | 20 | 20 | 20.04 | 20.0801 | 20.1202 | 20.1605 | 20.2008 | 20.2412 | 20.2817 | 20.3222 | 20.3629 | 20.4036 | 20.4444 | 20.4853 | 20.5263 | 20.5673 | 20.6085 | 20.6497 | 20.1605 | 20.6497 |
| C33 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 0 | 0 | 0 | 0 | 0 | 0 | 33 | 33 | 33.0495 | 33.0991 | 33.1487 | 33.1984 | 33.2482 | 33.2981 | 33.3481 | 33.3981 | 33.4482 | 33.4984 | 33.5486 | 33.5989 | 33.6493 | 33.6998 | 33.7503 | 33.801 | 33.1984 | 33.801 |
| P01 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77 | 77.1155 | 77.2312 | 77.347 | 77.463 | 77.5792 | 77.6956 | 77.8121 | 77.9289 | 78.0458 | 78.1628 | 78.2801 | 78.3975 | 78.5151 | 77.1155 | 78.5151 |
| P02 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20 | 20.03 | 20.06 | 20.0901 | 20.1203 | 20.1505 | 20.1807 | 20.2109 | 20.2413 | 20.2716 | 20.302 | 20.3325 | 0 | 20.3325 |
| P03 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24.75 | 24.7748 | 24.7995 | 24.8243 | 24.8491 | 24.874 | 24.8989 | 24.9238 | 24.9487 | 24.9736 | 24.9986 | 0 | 24.9986 |
| P04 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14 | 14.014 | 14.028 | 14.042 | 14.0561 | 14.0701 | 14.0842 | 14.0983 | 14.1124 | 0 | 14.1124 |
| C01 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C02 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C03 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.0609 | 1.0609 | 1.0609 | 1.03 | 1.0609 |
| C04 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C05 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C06 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C07 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C08 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C09 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C10 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.0609 | 1.0609 | 1.0609 | 1.03 | 1.0609 |
| C11 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C12 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.0609 | 1.0609 | 1.03 | 1.0609 |
| C13 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C14 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C15 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C16 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.0609 | 1.0609 | 1.0609 | 1.03 | 1.0609 |
| C17 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C18 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C19 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C20 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C21 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C22 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.0609 | 1.0609 | 1.03 | 1.0609 |
| C23 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.0609 | 1.0609 | 1.0609 | 1.0609 | 1.03 | 1.0609 |
| C24 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| C25 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C26 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C27 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C28 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.0609 | 1.0609 | 1.0609 | 1.03 | 1.0609 |
| C29 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.0609 | 1.03 | 1.0609 |
| C30 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.0568 | 1.026 | 1.0568 |
| C31 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1 | 1.03 |
| C32 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1 | 1.03 |
| C33 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1.03 | 1 | 1.03 |
| P01 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.03 | 1.03 | 1 | 1.03 |
| P02 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| P03 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| P04 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| C01 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 22,327 | 22,365.5 | 22,907.5 | 23,012.67 | 23,012.67 | 23,052.17 | 23,052.17 | 23,091.67 | 23,131.5496 | 23,171.5026 | 23,211.5293 | 23,251.6297 | 23,291.8039 | 23,332.0522 | 21,666.1913 | 21,703.6391 | 21,741.1559 | 21,778.7418 | 21,816.397 | 21,854.1217 | 21,891.9158 | 21,929.7797 | 21,967.7133 | 22,005.7169 | 275,587.5612 | 264,979.2287 |
| C02 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 15,500 | 15,588 | 15,588 | 16,038.43 | 16,128.72 | 16,173.86 | 16,219.01 | 16,309.3 | 16,366.2061 | 16,423.3231 | 16,480.6519 | 16,538.1933 | 16,595.9481 | 16,653.9172 | 16,712.1012 | 17,273.6162 | 17,333.9914 | 17,394.5906 | 17,455.4147 | 17,516.4646 | 17,577.7412 | 17,639.2453 | 17,700.9778 | 17,762.9396 | 193,353.6945 | 207,616.9479 |
| C03 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,090 | 8,130 | 8,170 | 8,170 | 8,210 | 8,210 | 8,210 | 8,210 | 8,217.165 | 7,793.3814 | 7,800.1836 | 7,806.992 | 7,813.8068 | 7,820.6279 | 7,827.4553 | 7,834.289 | 7,841.1291 | 7,847.9755 | 7,854.8283 | 7,861.6874 | 7,868.5529 | 8,111.6875 | 8,118.7721 | 8,125.8632 | 97,017.722 | 94,926.6749 |
| C04 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,524 | 6,524 | 6,693.62 | 6,746.98 | 6,746.98 | 6,746.98 | 6,693.62 | 6,746.98 | 6,758.8488 | 6,770.7397 | 6,782.6527 | 6,794.5879 | 6,806.5454 | 6,818.5252 | 7,035.4431 | 7,047.8283 | 7,060.2366 | 7,072.668 | 7,085.1226 | 7,097.6004 | 7,110.1014 | 7,122.6258 | 7,135.1735 | 7,147.7446 | 80,529.9891 | 84,539.6148 |
| C05 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 13,099 | 13,128 | 13,128 | 13,128 | 13,176 | 13,176 | 13,205 | 13,627.33 | 13,650.3001 | 13,673.3118 | 13,696.3653 | 13,719.4606 | 13,742.5978 | 13,765.7769 | 13,788.9981 | 13,812.2615 | 13,835.567 | 13,858.9149 | 13,882.3051 | 13,320.3062 | 13,342.7931 | 13,365.3208 | 13,387.8894 | 13,410.499 | 160,406.7678 | 163,513.2297 |
| C06 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,552.39 | 7,552.39 | 7,594.45 | 7,594.45 | 7,552.39 | 7,594.45 | 7,594.45 | 7,594.45 | 7,600.8133 | 7,607.1822 | 7,613.557 | 7,619.9375 | 7,855.1135 | 7,861.6973 | 7,868.2871 | 7,874.8828 | 7,881.4844 | 7,888.0921 | 7,894.7057 | 7,901.3252 | 7,907.9508 | 7,914.5823 | 7,921.2199 | 7,927.8634 | 91,070.91 | 94,697.2044 |
| C07 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,730 | 5,878.98 | 5,925.15 | 5,925.15 | 5,988.76 | 5,988.76 | 6,034.93 | 6,034.93 | 6,050.0768 | 6,065.2647 | 6,080.4936 | 6,095.7638 | 6,111.0754 | 5,868.5057 | 5,883.2522 | 5,898.0387 | 5,912.8652 | 5,927.7319 | 5,942.6389 | 5,957.5862 | 5,972.5742 | 5,987.6027 | 6,002.672 | 6,017.7822 | 71,798.2589 | 71,482.3252 |
| C08 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 11,357.82 | 11,397.83 | 11,484.02 | 11,524.03 | 11,564.05 | 11,604.06 | 11,604.06 | 11,604.06 | 11,632.57 | 11,661.156 | 11,689.8184 | 11,718.5572 | 12,099.794 | 12,129.5532 | 12,159.392 | 12,189.3104 | 12,219.3088 | 12,249.3873 | 12,279.5461 | 12,309.7856 | 12,340.1059 | 12,370.5072 | 12,400.9898 | 12,431.5539 | 138,842.0316 | 147,179.2342 |
| C09 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,395 | 8,435 | 8,435 | 8,475 | 8,515 | 8,515 | 8,736.39 | 8,777.43 | 8,792.0762 | 8,806.7487 | 8,821.4477 | 8,836.1731 | 8,850.9251 | 8,865.7037 | 8,880.5089 | 8,895.3407 | 8,910.1994 | 8,925.0848 | 9,208.1969 | 9,223.5842 | 9,238.9993 | 9,254.4421 | 9,269.9128 | 9,285.4114 | 103,540.2656 | 108,808.3092 |
| C10 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 3,840 | 3,840 | 3,840 | 3,840 | 3,840 | 3,890 | 3,890 | 3,890 | 3,896.94 | 4,021.0098 | 4,028.1849 | 4,035.3735 | 4,042.5756 | 4,049.7912 | 4,057.0204 | 4,064.2631 | 4,071.5195 | 4,078.7895 | 4,086.0732 | 4,093.3706 | 4,100.6817 | 4,019.6844 | 4,026.8653 | 4,034.0596 | 46,851.5082 | 48,724.6941 |
| C11 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,930 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 8,212.1 | 8,225.3231 | 8,238.5694 | 8,251.839 | 8,265.132 | 8,278.4483 | 8,291.788 | 8,305.1512 | 8,318.5379 | 8,331.9482 | 8,345.3821 | 8,358.8395 | 8,623.4903 | 8,637.4004 | 8,651.3349 | 8,665.294 | 8,679.2776 | 96,924.9635 | 101,486.8925 |
| C12 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,706 | 6,706 | 6,747 | 6,706 | 6,706 | 6,747 | 6,747 | 6,747 | 6,752.649 | 6,758.3031 | 6,479.1995 | 6,484.6253 | 6,490.0561 | 6,495.4917 | 6,500.9323 | 6,506.3778 | 6,511.8282 | 6,517.2835 | 6,522.7437 | 6,528.2089 | 6,533.679 | 6,539.154 | 6,740.973 | 6,746.6225 | 80,286.7769 | 78,633.3507 |
| C13 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 4,280 | 4,280 | 4,391.28 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 4,451.2949 | 4,463.1229 | 4,474.9841 | 4,486.8785 | 4,498.8064 | 4,510.7678 | 4,658.4456 | 4,670.835 | 4,683.2593 | 4,695.7184 | 4,708.2126 | 4,720.7418 | 4,733.3062 | 4,745.906 | 4,758.5411 | 4,771.2117 | 53,025.0604 | 56,155.7518 |
| C14 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,134 | 5,173 | 5,173 | 5,173 | 5,347.51 | 5,347.51 | 5,347.51 | 5,347.51 | 5,356.5388 | 5,365.584 | 5,374.6456 | 5,383.7237 | 5,392.8182 | 5,401.9293 | 5,411.0569 | 5,420.2011 | 5,592.2427 | 5,601.6955 | 5,611.1654 | 5,620.6526 | 5,630.157 | 5,639.6786 | 5,649.2176 | 5,658.7739 | 63,523.532 | 66,629.5889 |
| C15 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,075 | 5,124 | 5,124 | 5,173 | 5,307.5 | 5,307.5 | 5,307.5 | 5,357.77 | 5,371.6887 | 5,385.6459 | 5,399.6418 | 5,413.6764 | 5,427.7499 | 5,441.8623 | 5,456.0139 | 5,470.2046 | 5,310.0296 | 5,323.8453 | 5,337.6992 | 5,351.5915 | 5,365.5224 | 5,379.4918 | 5,393.5 | 5,407.547 | 63,346.9229 | 64,665.0575 |
| C16 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,724 | 8,724 | 8,724 | 8,760 | 8,724 | 8,817 | 8,760 | 8,796 | 8,803.314 | 8,348.9573 | 8,355.9005 | 8,362.85 | 8,369.8057 | 8,376.7676 | 8,383.7358 | 8,390.7103 | 8,397.691 | 8,404.6781 | 8,411.6714 | 8,418.6709 | 8,425.6768 | 8,685.6697 | 8,692.8987 | 8,700.1342 | 103,900.0218 | 101,658.1102 |
| C17 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,192 | 8,192 | 8,238 | 8,352 | 8,352 | 8,398 | 8,398 | 8,616.35 | 8,644.8154 | 8,673.3826 | 8,702.052 | 8,730.8241 | 8,759.6992 | 8,788.6777 | 8,817.76 | 8,846.9465 | 8,876.2376 | 8,905.6336 | 8,935.135 | 8,772.0002 | 8,801.0747 | 8,830.2534 | 8,859.5369 | 8,888.9253 | 101,489.424 | 106,081.8801 |
| C18 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 3,290 | 3,290 | 3,290 | 3,290 | 3,290 | 3,424.79 | 3,424.79 | 3,424.79 | 3,434.064 | 3,443.3644 | 3,452.6911 | 3,462.0443 | 3,471.4241 | 3,480.8305 | 3,490.2636 | 3,499.7235 | 3,509.2102 | 3,624.2856 | 3,634.1126 | 3,643.9674 | 3,653.8503 | 3,663.7612 | 3,673.7002 | 3,683.6676 | 40,516.5338 | 43,028.7967 |
| C19 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,790 | 7,992.54 | 7,992.54 | 7,992.54 | 8,031.53 | 8,031.53 | 8,070.52 | 8,070.52 | 8,084.3218 | 8,098.1488 | 8,112.0011 | 8,125.8788 | 8,139.7819 | 8,398.3218 | 8,412.6945 | 8,427.0935 | 8,441.5189 | 8,455.9707 | 8,470.449 | 8,484.9538 | 8,499.4851 | 8,514.0431 | 8,528.6278 | 8,543.2392 | 96,392.0705 | 101,316.1793 |
| C20 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,382.07 | 7,422.08 | 7,422.08 | 7,462.1 | 7,462.1 | 7,462.1 | 7,502.11 | 7,502.11 | 7,514.7339 | 7,527.3807 | 7,540.0503 | 7,552.743 | 7,246.9528 | 7,259.1552 | 7,271.3797 | 7,283.6263 | 7,295.8951 | 7,308.1862 | 7,320.4996 | 7,332.8353 | 7,345.1933 | 7,357.5738 | 7,369.9767 | 7,382.4021 | 89,751.6579 | 87,773.6761 |
| C21 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,406.7726 | 4,406.7726 | 4,406.7726 | 4,406.7726 | 4,406.7726 | 4,406.7726 | 50,690.52 | 52,111.1556 |
| C22 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,715 | 5,752 | 5,752 | 5,752 | 5,796 | 5,796 | 5,833 | 5,833 | 5,847.133 | 5,861.3034 | 6,051.7765 | 6,066.4492 | 6,081.1607 | 6,095.9112 | 6,110.7006 | 6,125.5291 | 6,140.3969 | 6,155.3041 | 6,170.2506 | 6,185.2368 | 6,200.2626 | 6,215.3282 | 6,032.3059 | 6,046.9697 | 70,055.6621 | 73,559.3563 |
| C23 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 2,728 | 2,728 | 2,728 | 2,780 | 2,780 | 2,780 | 2,780 | 2,780 | 2,870.989 | 2,878.5993 | 2,886.231 | 2,893.884 | 2,901.5585 | 2,909.2545 | 2,916.972 | 2,924.7112 | 2,932.4721 | 2,940.2548 | 2,948.0593 | 2,955.8856 | 3,052.646 | 3,060.7524 | 3,068.8816 | 3,077.0336 | 33,613.7034 | 35,688.4815 |
| C24 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,289 | 8,289 | 8,250 | 8,250 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 33,078 | 0 |
| C25 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,900 | 8,943 | 9,050 | 9,285.3 | 9,241.18 | 9,241.18 | 9,350.96 | 9,395.08 | 9,410.784 | 9,426.5162 | 9,442.2769 | 9,458.066 | 9,473.8835 | 9,489.7296 | 9,505.6043 | 9,120.6522 | 9,135.9135 | 9,151.2023 | 9,166.5187 | 9,181.8628 | 9,197.2346 | 9,212.6341 | 9,228.0614 | 9,243.5166 | 111,144.343 | 111,106.8136 |
| C26 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,204 | 6,204 | 6,204 | 6,248 | 6,248 | 6,248 | 6,248 | 6,455.59 | 6,466.1988 | 6,476.8266 | 6,487.4733 | 6,498.139 | 6,508.8237 | 6,519.5275 | 6,530.2503 | 6,540.9923 | 6,551.7535 | 6,562.5338 | 6,573.3334 | 6,781.6769 | 6,792.8402 | 6,804.0235 | 6,815.2267 | 6,826.4499 | 75,988.2277 | 79,807.4316 |
| C27 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 4,442 | 4,557.49 | 4,605.71 | 4,605.71 | 4,653.94 | 4,653.94 | 4,653.94 | 4,702.16 | 4,714.4936 | 4,726.8614 | 4,739.2638 | 4,751.7006 | 4,764.1722 | 4,919.9788 | 4,932.8961 | 4,945.8494 | 4,958.8388 | 4,971.8644 | 4,984.9263 | 4,998.0246 | 5,011.1594 | 5,024.3308 | 5,037.539 | 5,050.784 | 55,807.2094 | 59,600.3637 |
| C28 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,050 | 5,050 | 5,091 | 5,091 | 5,091 | 5,091 | 5,091 | 5,050 | 5,054.165 | 5,210.0837 | 5,214.3814 | 5,218.6828 | 5,222.9881 | 5,227.2973 | 5,231.6103 | 5,235.9272 | 5,240.2479 | 5,244.5725 | 5,248.9009 | 5,253.2333 | 5,257.5694 | 5,419.7668 | 5,424.2411 | 5,428.7194 | 61,302.3129 | 63,435.0741 |
| C29 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,108 | 6,150 | 6,155.07 | 6,160.1445 | 6,165.2236 | 5,592.7664 | 5,597.3783 | 5,601.9944 | 5,606.6145 | 5,611.2388 | 5,615.8672 | 5,620.4997 | 5,625.1364 | 5,629.7772 | 5,634.4222 | 5,639.0713 | 5,643.7246 | 5,817.8335 | 73,231.2046 | 67,643.5581 |
| C30 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 3,715 | 3,715 | 3,760 | 3,760 | 3,760 | 3,760 | 3,857.76 | 3,857.76 | 3,864.2033 | 3,870.6582 | 3,877.1247 | 3,883.6029 | 3,890.0928 | 3,896.5943 | 3,903.1076 | 3,909.6327 | 3,916.1695 | 3,922.7181 | 3,763.8559 | 3,770.1514 | 3,776.4584 | 3,782.7767 | 3,789.1064 | 3,795.4475 | 45,681.1091 | 46,116.1112 |
| C31 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 5,256 | 5,256 | 5,300 | 5,300 | 5,300 | 5,362 | 5,379.852 | 5,397.7682 | 5,415.7489 | 5,433.7943 | 5,451.9046 | 5,470.0801 | 5,652.9707 | 5,671.8265 | 5,690.7503 | 5,709.7422 | 5,728.8025 | 5,747.9316 | 5,767.1295 | 5,786.3967 | 5,805.7333 | 5,825.1397 | 53,401.1634 | 68,308.4077 |
| C32 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 4,236 | 4,236 | 4,282 | 4,282 | 4,296.728 | 4,311.5101 | 4,326.3465 | 4,341.2375 | 4,356.1832 | 4,371.1838 | 4,386.2396 | 4,401.3508 | 4,549.013 | 4,564.6922 | 4,580.4291 | 4,596.2239 | 4,612.0768 | 4,627.9881 | 4,643.9579 | 4,659.9865 | 34,311.8222 | 54,349.325 |
| C33 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 6,408 | 6,449 | 6,465.377 | 6,481.7987 | 6,498.2652 | 6,514.7766 | 6,531.333 | 6,547.9347 | 6,564.5817 | 6,581.2741 | 6,598.0121 | 6,614.7958 | 6,830.5741 | 6,847.9558 | 6,865.3851 | 6,882.862 | 6,900.3866 | 6,917.9591 | 38,817.2174 | 80,683.0539 |
| P01 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14,278 | 14,313.673 | 14,349.4423 | 14,385.3081 | 14,421.2708 | 14,457.3305 | 14,493.4876 | 14,529.7424 | 14,566.0951 | 14,602.546 | 14,639.0954 | 14,675.7435 | 15,153.8654 | 15,191.8173 | 28,591.673 | 175,465.7444 |
| P02 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,720 | 3,729.36 | 3,738.7454 | 3,748.1562 | 3,757.5926 | 3,767.0545 | 3,776.5421 | 3,786.0555 | 3,795.5947 | 3,805.1598 | 3,814.7508 | 3,824.3679 | 0 | 45,263.3795 |
| P03 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,881.25 | 3,887.6512 | 3,894.0639 | 3,900.4881 | 3,906.9237 | 3,913.3709 | 3,919.8295 | 3,926.2998 | 3,932.7816 | 3,939.2749 | 3,945.7799 | 0 | 43,047.7137 |
| P04 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,588 | 2,592.308 | 2,596.6237 | 2,600.9473 | 2,605.2785 | 2,609.6176 | 2,613.9645 | 2,618.3192 | 2,622.6818 | 0 | 23,447.7407 |
| MANAGED USERS | TOTALS | 3,781 | 3,794 | 3,882 | 3,893 | 3,815 | 3,824 | 3,938 | 3,951 | 3,959.919 | 3,943.6114 | 4,208.7595 | 4,207.0633 | 4,267.7778 | 4,334.4589 | 4,301.4472 | 4,341.304 | 4,346.611 | 4,356.7388 | 4,362.887 | 4,344.3065 | 4,354.4388 | 4,361.4622 | 4,365.5558 | 4,375.7463 | 4,207.0633 | 4,375.7463 | |
| MANAGED DEVICES | TOTALS | 1,174 | 1,174 | 1,204 | 1,206 | 1,189 | 1,190 | 1,223 | 1,225 | 1,226.386 | 1,220.5667 | 1,296.429 | 1,293.6026 | 1,312.2906 | 1,336.3824 | 1,328.2698 | 1,340.5007 | 1,340.8446 | 1,342.405 | 1,342.552 | 1,335.7496 | 1,337.3043 | 1,338.2528 | 1,336.6816 | 1,338.2374 | 1,293.6026 | 1,338.2374 | |
| MANAGED SERVICE FEES (MRR) | TOTALS | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,538.7029 | 237,376.5695 | 252,008.4211 | 251,930.2371 | 256,413.069 | 260,935.5666 | 260,253.7181 | 263,462.6812 | 264,109.049 | 264,741.5994 | 265,700.2716 | 265,901.387 | 266,521.3256 | 267,612.6968 | 268,586.5992 | 269,292.494 | 2,813,869.8407 | 3,173,530.4576 | |
| Annualised fees (MRR x 12) | TOTALS | 2,667,375.36 | 2,679,225.72 | 2,758,216.2 | 2,773,414.32 | 2,733,453.96 | 2,739,831.96 | 2,824,735.68 | 2,843,937.72 | 2,850,464.4349 | 2,848,518.8343 | 3,024,101.0533 | 3,023,162.8453 | 3,076,956.8281 | 3,131,226.799 | 3,123,044.617 | 3,161,552.1744 | 3,169,308.5883 | 3,176,899.193 | 3,188,403.2598 | 3,190,816.6437 | 3,198,255.9076 | 3,211,352.3619 | 3,223,039.191 | 3,231,509.9275 | 3,023,162.8453 | 3,231,509.9275 | |
| Fees: customers in Portugal | TOTALS | 187,820.28 | 188,649.32 | 194,990.64 | 195,977.85 | 192,643.71 | 193,175.21 | 200,084.98 | 201,384.22 | 201,873.7883 | 201,505.4788 | 216,082.6775 | 216,527.2794 | 220,955.7304 | 225,280.4448 | 224,543.6349 | 225,510.3887 | 226,097.9508 | 226,671.5849 | 227,736.6527 | 227,681.3822 | 228,242.0238 | 229,116.1291 | 230,030.3809 | 230,507.0613 | 2,390,715.434 | 2,722,373.3646 | |
| Share of fees in Portugal | TOTALS | 84.5% | 84.49% | 84.83% | 84.8% | 84.57% | 84.61% | 85% | 84.97% | 84.99% | 84.89% | 85.74% | 85.95% | 86.17% | 86.34% | 86.28% | 85.59% | 85.61% | 85.62% | 85.71% | 85.63% | 85.64% | 85.61% | 85.64% | 85.6% | 84.94% | 85.79% | |
| Users: customers in Portugal | TOTALS | 3,251 | 3,263 | 3,347 | 3,357 | 3,279 | 3,288 | 3,402 | 3,412 | 3,419.943 | 3,402.6574 | 3,666.8255 | 3,675.593 | 3,735.3349 | 3,801.0414 | 3,767.0532 | 3,776.1027 | 3,780.3694 | 3,789.4549 | 3,798.5656 | 3,778.9464 | 3,788.0379 | 3,794.0183 | 3,797.0668 | 3,806.21 | 3,675.593 | 3,806.21 | |
| Share of users in Portugal | TOTALS | 85.98% | 86% | 86.22% | 86.23% | 85.95% | 85.98% | 86.39% | 86.36% | 86.36% | 86.28% | 87.12% | 87.37% | 87.52% | 87.69% | 87.58% | 86.98% | 86.97% | 86.98% | 87.07% | 86.99% | 86.99% | 86.99% | 86.98% | 86.98% | 86.35% | 87.14% | |
| Fees per user a month (devices included) | TOTALS | 58.789 | 58.8479 | 59.2095 | 59.3675 | 59.7085 | 59.7069 | 59.7752 | 59.9835 | 59.9857 | 60.1927 | 59.8771 | 59.8827 | 60.0812 | 60.2003 | 60.5038 | 60.6875 | 60.7621 | 60.766 | 60.9001 | 61.2069 | 61.2068 | 61.3585 | 61.524 | 61.5421 | 59.6105 | 60.8949 | |
| Contracts billing (pipeline counted from the start month) | TOTALS | 30 | 30 | 31 | 31 | 31 | 31 | 32 | 32 | 32 | 32 | 33 | 33 | 34 | 35 | 35 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 33 | 36 | |
| Users of contracts starting in the month (expected for pipeline) | TOTALS | onboarding hours | 0 | 0 | 80 | 0 | 66 | 0 | 108 | 0 | 0 | 0 | 264 | 0 | 60 | 63 | 0 | 40 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 518 | 163 |
| First-year fees of contracts starting in the month (commission base) | TOTALS | fees x 12 | 0 | 0 | 63,072 | 0 | 50,832 | 0 | 76,896 | 0 | 0 | 0 | 171,336 | 0 | 44,640 | 46,575 | 0 | 31,056 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 362,136 | 122,271 |
| Fees reaching a 36-month renewal in the month (prior month fees) | TOTALS | 7,320 | 7,790 | 6,524 | 0 | 13,423 | 0 | 8,515 | 6,248 | 0 | 17,020.479 | 6,758.3031 | 6,165.2236 | 7,552.743 | 6,111.0754 | 23,332.0522 | 9,505.6043 | 5,470.2046 | 0 | 3,922.7181 | 22,817.4401 | 0 | 4,100.6817 | 6,215.3282 | 0 | 79,764.0057 | 89,027.8475 | |
| Fees lost at renewal (A: contracts not renewed; F: expected, fees x (1 - probability)) | TOTALS | 0 | 0 | 0 | 0 | 8,250 | 0 | 0 | 0 | 0 | 1,361.6383 | 473.0812 | 739.8268 | 528.692 | 427.7753 | 2,333.2052 | 665.3923 | 328.2123 | 0 | 274.5903 | 1,418.5181 | 0 | 205.0341 | 372.9197 | 0 | 10,824.5464 | 6,554.3392 | |
| Net revenue retention: fees now of contracts billing a year earlier / their fees then | TOTALS | History for 2025 | 104.72% | 104.78% | 104.77% | 104.81% | 100.76% | 100.78% | 100.77% | 100.92% | 101.05% | 100.51% | 100.26% | 99.98% | 99.88% | 99.68% | 98.87% | 98.56% | 102.19% | 102.19% | 102.31% | 101.68% | 101.69% | 102.19% | 102.46% | 102.77% | 99.98% | 102.77% |
| Gross revenue retention: as above, each contract capped at its fees a year earlier | TOTALS | History for 2025 | 100% | 100% | 100% | 100% | 96.08% | 96.15% | 96.16% | 96.18% | 96.25% | 95.96% | 95.88% | 95.63% | 95.58% | 95.58% | 95.15% | 95.08% | 98.66% | 98.64% | 98.64% | 98.5% | 98.5% | 98.8% | 98.95% | 99.15% | 95.63% | 99.15% |
| Onboarding fees billed | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | register: contracts starting in the month | 0 | 0 | 3,600 | 0 | 2,970 | 0 | 4,860 | 0 | 0 | 0 | 11,880 | 0 | 2,700 | 2,835 | 0 | 1,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23,310 | 7,335 |
| of which customers in Portugal | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | 0 | 0 | 3,600 | 0 | 2,970 | 0 | 4,860 | 0 | 0 | 0 | 11,880 | 0 | 2,700 | 2,835 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23,310 | 5,535 | |
| Onboarding fees recognised | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | fee / 36 for each month of the term | 293.75 | 293.75 | 393.75 | 393.75 | 476.25 | 476.25 | 611.25 | 611.25 | 611.25 | 611.25 | 941.25 | 941.25 | 1,016.25 | 1,095 | 1,095 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 6,655 | 13,511.25 |
| CONTRACT LIABILITY: ONBOARDING FEES DEFERRED | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | opening + billed - recognised | 7,762.5 | 7,468.75 | 10,675 | 10,281.25 | 12,775 | 12,298.75 | 16,547.5 | 15,936.25 | 15,325 | 14,713.75 | 25,652.5 | 24,711.25 | 26,395 | 28,135 | 27,040 | 27,695 | 26,550 | 25,405 | 24,260 | 23,115 | 21,970 | 20,825 | 19,680 | 18,535 | 24,711.25 | 18,535 |
| Per contract schedule: fees x months of the term still to run / 36 | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | independent calculation | 7,762.5 | 7,468.75 | 10,675 | 10,281.25 | 12,775 | 12,298.75 | 16,547.5 | 15,936.25 | 15,325 | 14,713.75 | 25,652.5 | 24,711.25 | 26,395 | 28,135 | 27,040 | 27,695 | 26,550 | 25,405 | 24,260 | 23,115 | 21,970 | 20,825 | 19,680 | 18,535 | 24,711.25 | 18,535 |
| Check: roll-forward less schedule (must be zero) | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed users | VOLUME | Contracts | 3,781 | 3,794 | 3,882 | 3,893 | 3,815 | 3,824 | 3,938 | 3,951 | 3,959.919 | 3,943.6114 | 4,208.7595 | 4,207.0633 | 4,267.7778 | 4,334.4589 | 4,301.4472 | 4,341.304 | 4,346.611 | 4,356.7388 | 4,362.887 | 4,344.3065 | 4,354.4388 | 4,361.4622 | 4,365.5558 | 4,375.7463 | 4,207.0633 | 4,375.7463 |
| Managed devices | VOLUME | Contracts | 1,174 | 1,174 | 1,204 | 1,206 | 1,189 | 1,190 | 1,223 | 1,225 | 1,226.386 | 1,220.5667 | 1,296.429 | 1,293.6026 | 1,312.2906 | 1,336.3824 | 1,328.2698 | 1,340.5007 | 1,340.8446 | 1,342.405 | 1,342.552 | 1,335.7496 | 1,337.3043 | 1,338.2528 | 1,336.6816 | 1,338.2374 | 1,293.6026 | 1,338.2374 |
| Tickets logged | VOLUME | A: PSA; F: (users x rate + devices x rate) x seasonality | 1,903 | 1,831 | 1,874 | 1,844 | 1,788 | 1,748 | 1,792 | 1,601 | 2,021.3837 | 1,957.0038 | 2,047.7141 | 1,867.6663 | 2,136.4895 | 2,088.6109 | 2,032.4137 | 1,989.6958 | 2,012.4498 | 1,975.7176 | 1,957.6141 | 1,805.4838 | 2,220.7025 | 2,162.2829 | 2,122.5924 | 1,941.395 | 22,274.7678 | 24,445.448 |
| Tickets per 100 users and devices | VOLUME | 38.4057 | 36.8559 | 36.8462 | 36.164 | 35.7314 | 34.8624 | 34.722 | 30.9312 | 38.9754 | 37.8957 | 37.1961 | 33.9535 | 38.2879 | 36.8307 | 36.1015 | 35.0187 | 35.384 | 34.6669 | 34.3114 | 31.7864 | 39.0162 | 37.9367 | 37.2239 | 33.9762 | 36.0449 | 35.8784 | |
| Ticket hours: P1 | HOURS | tickets x share x hours per ticket | 199.815 | 192.255 | 196.77 | 193.62 | 187.74 | 183.54 | 188.16 | 168.105 | 212.2453 | 205.4854 | 215.01 | 196.105 | 224.3314 | 219.3041 | 213.4034 | 208.9181 | 211.3072 | 207.4503 | 205.5495 | 189.5758 | 233.1738 | 227.0397 | 222.8722 | 203.8465 | 2,338.8506 | 2,566.772 |
| Ticket hours: P2 | HOURS | tickets x share x hours per ticket | 411.048 | 395.496 | 404.784 | 398.304 | 386.208 | 377.568 | 387.072 | 345.816 | 436.6189 | 422.7128 | 442.3062 | 403.4159 | 461.4817 | 451.1399 | 439.0014 | 429.7743 | 434.6892 | 426.755 | 422.8446 | 389.9845 | 479.6717 | 467.0531 | 458.48 | 419.3413 | 4,811.3499 | 5,280.2168 |
| Ticket hours: P3 | HOURS | tickets x share x hours per ticket | 941.985 | 906.345 | 927.63 | 912.78 | 885.06 | 865.26 | 887.04 | 792.495 | 1,000.5849 | 968.7169 | 1,013.6185 | 924.4948 | 1,057.5623 | 1,033.8624 | 1,006.0448 | 984.8994 | 996.1626 | 977.9802 | 969.019 | 893.7145 | 1,099.2478 | 1,070.3301 | 1,050.6832 | 960.9905 | 11,026.0101 | 12,100.4967 |
| Ticket hours: P4 | HOURS | tickets x share x hours per ticket | 256.905 | 247.185 | 252.99 | 248.94 | 241.38 | 235.98 | 241.92 | 216.135 | 272.8868 | 264.1955 | 276.4414 | 252.1349 | 288.4261 | 281.9625 | 274.3759 | 268.6089 | 271.6807 | 266.7219 | 264.2779 | 243.7403 | 299.7948 | 291.9082 | 286.55 | 262.0883 | 3,007.0937 | 3,300.1355 |
| Ticket hours | HOURS | 1,809.753 | 1,741.281 | 1,782.174 | 1,753.644 | 1,700.388 | 1,662.348 | 1,704.192 | 1,522.551 | 1,922.3359 | 1,861.1106 | 1,947.3761 | 1,776.1506 | 2,031.8015 | 1,986.2689 | 1,932.8254 | 1,892.2007 | 1,913.8397 | 1,878.9074 | 1,861.691 | 1,717.0151 | 2,111.8881 | 2,056.3311 | 2,018.5854 | 1,846.2666 | 21,183.3042 | 23,247.621 | |
| Proactive hours (patching, monitoring, backups, endpoint management) | HOURS | counts x hours x (1 - deferred share x holiday share) | 2,025.1502 | 2,016.7206 | 2,066.5991 | 2,026.3174 | 2,026.4451 | 1,996.2929 | 1,996.6609 | 1,910.5902 | 2,072.0999 | 2,096.5514 | 2,242.565 | 2,179.17 | 2,271.4022 | 2,298.5672 | 2,283.3742 | 2,254.8636 | 2,293.4099 | 2,259.7446 | 2,198.8719 | 2,089.392 | 2,266.1284 | 2,305.6581 | 2,317.0527 | 2,258.6191 | 24,655.1627 | 27,097.0841 |
| Onboarding hours (users of new contracts) | HOURS | new users x hours | 0 | 0 | 160 | 0 | 132 | 0 | 216 | 0 | 0 | 0 | 528 | 0 | 120 | 126 | 0 | 80 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,036 | 326 |
| DEMAND HOURS | HOURS | 3,834.9032 | 3,758.0016 | 4,008.7731 | 3,779.9614 | 3,858.8331 | 3,658.6409 | 3,916.8529 | 3,433.1412 | 3,994.4358 | 3,957.6619 | 4,717.9411 | 3,955.3206 | 4,423.2037 | 4,410.8362 | 4,216.1997 | 4,227.0644 | 4,207.2496 | 4,138.6521 | 4,060.5629 | 3,806.4071 | 4,378.0165 | 4,361.9892 | 4,335.6381 | 4,104.8857 | 46,874.4669 | 50,670.7052 | |
| Service desk FTE (analysts, engineers, field technicians, NOC) | CAPACITY, UTILISATION AND SLA | People | 39 | 39 | 38 | 37 | 36 | 36 | 37 | 37 | 36.5683 | 39.1417 | 41.1167 | 41.0637 | 43.0412 | 43.0188 | 43.996 | 44.9848 | 44.9619 | 45.9506 | 45.9394 | 45.928 | 45.9282 | 45.9283 | 45.9283 | 45.9283 | 41.0637 | 45.9283 |
| Capacity hours | CAPACITY, UTILISATION AND SLA | FTE x productive hours x (1 - holiday share) | 4,708.08 | 4,656.6 | 4,537.2 | 4,222.44 | 4,250.88 | 4,108.32 | 3,978.24 | 3,587.52 | 4,221.4484 | 4,673.5193 | 4,963.61 | 4,686.1839 | 5,195.9372 | 5,136.4419 | 5,253.1184 | 5,133.6686 | 5,309.1001 | 5,243.8849 | 4,939.3993 | 4,453.1741 | 5,301.9531 | 5,483.8444 | 5,544.4692 | 5,241.342 | 52,594.0416 | 62,236.3332 |
| UTILISATION | CAPACITY, UTILISATION AND SLA | demand / capacity | 81.45% | 80.7% | 88.35% | 89.52% | 90.78% | 89.05% | 98.46% | 95.7% | 94.62% | 84.68% | 95.05% | 84.4% | 85.13% | 85.87% | 80.26% | 82.34% | 79.25% | 78.92% | 82.21% | 85.48% | 82.57% | 79.54% | 78.2% | 78.32% | 89.13% | 81.42% |
| SLA attainment (share of tickets inside response and resolution times) | CAPACITY, UTILISATION AND SLA | A: PSA; F: maximum - slope x (utilisation - knee) | 97.34% | 98.03% | 93.18% | 91.81% | 91.22% | 92.65% | 86.39% | 88.4% | 89% | 95.46% | 88.72% | 95.64% | 95.17% | 94.68% | 98.33% | 96.98% | 98.5% | 98.5% | 97.07% | 94.94% | 96.83% | 98.5% | 98.5% | 98.5% | 92.32% | 97.21% |
| Share of fees in breach | CAPACITY, UTILISATION AND SLA | (target - attainment) / band, between 0 and 100% | 0% | 0% | 28.2% | 41.9% | 47.8% | 33.5% | 96.1% | 76% | 70.05% | 5.44% | 72.83% | 3.63% | 8.33% | 13.18% | 0% | 0% | 0% | 0% | 0% | 10.6% | 0% | 0% | 0% | 0% | 39.62% | 2.68% |
| SLA CREDITS FOR THE MONTH (revenue reduction) | CAPACITY, UTILISATION AND SLA | A: credit notes; F: fees x breach share x credit rate | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,319.2709 | 645.3668 | 9,176.7481 | 456.6435 | 1,068.3183 | 1,719.1687 | 0 | 0 | 0 | 0 | 0 | 1,408.7132 | 0 | 0 | 0 | 0 | 56,251.0392 | 4,196.2001 |
| Credited on the next invoice (credits of the prior month) | CAPACITY, UTILISATION AND SLA | 0 | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,319.2709 | 645.3668 | 9,176.7481 | 456.6435 | 1,068.3183 | 1,719.1687 | 0 | 0 | 0 | 0 | 0 | 1,408.7132 | 0 | 0 | 0 | 55,794.3957 | 4,652.8436 | |
| SLA CREDITS DUE TO CUSTOMERS (liability) | CAPACITY, UTILISATION AND SLA | opening + credits - credited | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,319.2709 | 645.3668 | 9,176.7481 | 456.6435 | 1,068.3183 | 1,719.1687 | 0 | 0 | 0 | 0 | 0 | 1,408.7132 | 0 | 0 | 0 | 0 | 456.6435 | 0 |
| Check: liability equals the credits of the month (must be zero) | CAPACITY, UTILISATION AND SLA | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| SLA credits, % of managed service fees | CAPACITY, UTILISATION AND SLA | 0% | 0% | 1.41% | 2.09% | 2.39% | 1.67% | 4.81% | 3.8% | 3.5% | 0.27% | 3.64% | 0.18% | 0.42% | 0.66% | 0% | 0% | 0% | 0% | 0% | 0.53% | 0% | 0% | 0% | 0% | 2% | 0.13% | |
| Tickets per service desk FTE | PRODUCTIVITY | 48.7949 | 46.9487 | 49.3158 | 49.8378 | 49.6667 | 48.5556 | 48.4324 | 43.2703 | 55.2769 | 49.9979 | 49.8025 | 45.4822 | 49.6382 | 48.5511 | 46.1955 | 44.2304 | 44.759 | 42.9965 | 42.613 | 39.3112 | 48.3516 | 47.0795 | 46.2153 | 42.2701 | 48.7818 | 45.1843 | |
| FTE needed to bring utilisation to the knee | PRODUCTIVITY | demand / (productive hours x (1 - holidays) x knee) | 39.7087 | 39.3426 | 41.9679 | 41.4034 | 40.8498 | 40.0745 | 45.5363 | 44.2598 | 43.2523 | 41.4328 | 48.8521 | 43.3241 | 45.8002 | 46.1771 | 44.1394 | 46.3007 | 44.5381 | 45.3322 | 47.2071 | 49.0719 | 47.4058 | 45.6657 | 44.8935 | 44.9624 | 42.5003 | 45.9578 |
| FTE short (+) or spare (-) against the knee | PRODUCTIVITY | 0.7087 | 0.3426 | 3.9679 | 4.4034 | 4.8498 | 4.0745 | 8.5363 | 7.2598 | 6.684 | 2.2911 | 7.7354 | 2.2605 | 2.759 | 3.1583 | 0.1435 | 1.3158 | -0.4238 | -0.6184 | 1.2677 | 3.1439 | 1.4775 | -0.2626 | -1.0348 | -0.966 | 4.4261 | 0.83 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| J01 ERP infrastructure and cloud migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 160 | 175 | 170 | 160 | 160 | 165 | 150 | 100 | 245 | 245 | 245 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,975 | 0 | |
| J02 Clinic network and Wi-Fi refresh (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 170 | 230 | 220 | 160 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 780 | 0 | |
| J03 Server virtualisation (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 110 | 150 | 150 | 140 | 90 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 640 | 0 | |
| J04 Security hardening and SOC onboarding (TM) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 95 | 118 | 112 | 110 | 116 | 104 | 72 | 153 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 880 | 0 | |
| J05 Construction site connectivity (TM) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 132 | 140 | 146 | 138 | 142 | 144 | 136 | 96 | 151.5 | 151.5 | 151.5 | 151.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,680 | 0 | |
| J06 Onboarding and migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 120 | 160 | 130 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 410 | 0 | |
| J07 Productivity suite tenant migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 0 | 95 | 130 | 85 | 160 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 470 | 0 | |
| J08 Store network upgrade (signed Aug-26) (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 220 | 220 | 220 | 220 | 220 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 880 | 220 | |
| J09 Backup and disaster recovery (TM) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 78 | 82 | 80 | 79 | 81 | 83 | 80 | 58 | 84.75 | 84.75 | 84.75 | 84.75 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 960 | 0 | |
| J10 Onboarding and migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 95 | 225 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 450 | 0 | |
| J11 ERP hosting move (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 120 | 160 | 170 | 160 | 150 | 120 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 880 | 0 | |
| J12 Onboarding and migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 90 | 120 | 95 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 305 | 0 | |
| J01 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 123.3333 | 123.3333 | 123.3333 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,350 | 0 | |
| J02 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J03 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J04 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J05 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J06 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J07 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J08 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J09 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J10 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J11 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J12 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J01 | OWN HOURS TO DATE | 335 | 510 | 680 | 840 | 1,000 | 1,165 | 1,315 | 1,415 | 1,660 | 1,905 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | |
| J02 | OWN HOURS TO DATE | 170 | 400 | 620 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | |
| J03 | OWN HOURS TO DATE | 0 | 0 | 110 | 260 | 410 | 550 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | |
| J04 | OWN HOURS TO DATE | 0 | 95 | 213 | 325 | 435 | 551 | 655 | 727 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | |
| J05 | OWN HOURS TO DATE | 132 | 272 | 418 | 556 | 698 | 842 | 978 | 1,074 | 1,225.5 | 1,377 | 1,528.5 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | |
| J06 | OWN HOURS TO DATE | 0 | 0 | 120 | 280 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | |
| J07 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 0 | 95 | 225 | 310 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | |
| J08 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 220 | 440 | 660 | 880 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 880 | 1,100 | |
| J09 | OWN HOURS TO DATE | 78 | 160 | 240 | 319 | 400 | 483 | 563 | 621 | 705.75 | 790.5 | 875.25 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | |
| J10 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 225 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | |
| J11 | OWN HOURS TO DATE | 120 | 280 | 450 | 610 | 760 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | |
| J12 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 90 | 210 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | |
| J01 | SUBCONTRACT HOURS TO DATE | 20 | 60 | 140 | 290 | 470 | 670 | 860 | 980 | 1,103.3333 | 1,226.6667 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | |
| J02 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J03 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J04 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J05 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J06 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J07 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J08 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J09 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J10 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J11 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J12 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J01 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 17.32% | 27.8% | 40% | 55.12% | 71.71% | 52.43% | 62.14% | 68.43% | 78.95% | 89.48% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J02 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 21.79% | 51.28% | 79.49% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J03 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 17.19% | 40.62% | 64.06% | 85.94% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J04 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 10.8% | 24.2% | 36.93% | 49.43% | 62.61% | 74.43% | 82.61% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J05 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 7.86% | 16.19% | 24.88% | 33.1% | 41.55% | 50.12% | 58.21% | 63.93% | 72.95% | 81.96% | 90.98% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J06 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 30% | 70% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J07 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 0% | 20.21% | 47.87% | 65.96% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J08 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 20% | 40% | 60% | 80% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 80% | 100% | |
| J09 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 8.13% | 16.67% | 25% | 33.23% | 41.67% | 50.31% | 58.65% | 64.69% | 73.52% | 82.34% | 91.17% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J10 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 0% | 0% | 28.89% | 50% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J11 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 13.64% | 31.82% | 51.14% | 69.32% | 86.36% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J12 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 30% | 70% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J01 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 13,873.18 | 16,570.73 | 19,268.29 | 23,892.68 | 26,204.88 | -30,460.42 | 15,348.57 | 9,931.43 | 16,627.6219 | 16,627.619 | 16,627.619 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 144,512.2 | 0 | |
| J02 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 13,948.72 | 18,871.79 | 18,051.28 | 13,128.21 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64,000 | 0 | |
| J03 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 8,937.5 | 12,187.5 | 12,187.5 | 11,375 | 7,312.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52,000 | 0 | |
| J04 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 10,404 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59,840 | 0 | |
| J05 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 9,090 | 9,090 | 9,090 | 9,090 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | |
| J06 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32,000 | 0 | |
| J07 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 0 | 7,680.85 | 10,510.64 | 6,872.34 | 12,936.17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38,000 | 0 | |
| J08 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 17,600 | 17,600 | 17,600 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70,400 | 17,600 | |
| J09 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 5,424 | 5,424 | 5,424 | 5,424 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,440 | 0 | |
| J10 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 0 | 0 | 10,400 | 7,600 | 18,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36,000 | 0 | |
| J11 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 9,818.18 | 13,090.91 | 13,909.09 | 13,090.91 | 12,272.73 | 9,818.18 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72,000 | 0 | |
| J12 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24,000 | 0 | |
| J01 | REVENUE TO DATE | 27,360.98 | 43,931.71 | 63,200 | 87,092.68 | 113,297.56 | 82,837.14 | 98,185.71 | 108,117.14 | 124,744.7619 | 141,372.381 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | |
| J02 | REVENUE TO DATE | 13,948.72 | 32,820.51 | 50,871.79 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | |
| J03 | REVENUE TO DATE | 0 | 0 | 8,937.5 | 21,125 | 33,312.5 | 44,687.5 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | |
| J04 | REVENUE TO DATE | 0 | 6,460 | 14,484 | 22,100 | 29,580 | 37,468 | 44,540 | 49,436 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | |
| J05 | REVENUE TO DATE | 7,920 | 16,320 | 25,080 | 33,360 | 41,880 | 50,520 | 58,680 | 64,440 | 73,530 | 82,620 | 91,710 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | |
| J06 | REVENUE TO DATE | 0 | 0 | 9,600 | 22,400 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | |
| J07 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 0 | 7,680.85 | 18,191.49 | 25,063.83 | 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 | |
| J08 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 35,200 | 52,800 | 70,400 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 70,400 | 88,000 | |
| J09 | REVENUE TO DATE | 4,992 | 10,240 | 15,360 | 20,416 | 25,600 | 30,912 | 36,032 | 39,744 | 45,168 | 50,592 | 56,016 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | |
| J10 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 10,400 | 18,000 | 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 | |
| J11 | REVENUE TO DATE | 9,818.18 | 22,909.09 | 36,818.18 | 49,909.09 | 62,181.82 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | |
| J12 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 7,200 | 16,800 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | |
| J01 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 63,200 | 0 | 0 | 0 | 0 | 0 | 0 | 47,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 110,600 | 0 | |
| J02 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 19,200 | 25,600 | 0 | 19,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64,000 | 0 | |
| J03 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 15,600 | 0 | 20,800 | 0 | 15,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52,000 | 0 | |
| J04 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 10,404 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59,840 | 0 | |
| J05 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 9,090 | 9,090 | 9,090 | 9,090 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | |
| J06 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32,000 | 0 | |
| J07 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 0 | 11,400 | 0 | 15,200 | 11,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38,000 | 0 | |
| J08 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,400 | 0 | 35,200 | 0 | 26,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,600 | 26,400 | |
| J09 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 5,424 | 5,424 | 5,424 | 5,424 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,440 | 0 | |
| J10 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 0 | 0 | 10,800 | 14,400 | 10,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36,000 | 0 | |
| J11 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 21,600 | 0 | 28,800 | 0 | 0 | 21,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72,000 | 0 | |
| J12 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24,000 | 0 | |
| J01 | BILLED TO DATE | 47,400 | 47,400 | 47,400 | 110,600 | 110,600 | 110,600 | 110,600 | 110,600 | 110,600 | 110,600 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | |
| J02 | BILLED TO DATE | 19,200 | 44,800 | 44,800 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | |
| J03 | BILLED TO DATE | 0 | 0 | 15,600 | 15,600 | 36,400 | 36,400 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | |
| J04 | BILLED TO DATE | 0 | 6,460 | 14,484 | 22,100 | 29,580 | 37,468 | 44,540 | 49,436 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | |
| J05 | BILLED TO DATE | 7,920 | 16,320 | 25,080 | 33,360 | 41,880 | 50,520 | 58,680 | 64,440 | 73,530 | 82,620 | 91,710 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | |
| J06 | BILLED TO DATE | 0 | 0 | 9,600 | 22,400 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | |
| J07 | BILLED TO DATE | 0 | 0 | 0 | 0 | 0 | 11,400 | 11,400 | 26,600 | 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 | |
| J08 | BILLED TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,400 | 26,400 | 61,600 | 61,600 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 61,600 | 88,000 | |
| J09 | BILLED TO DATE | 4,992 | 10,240 | 15,360 | 20,416 | 25,600 | 30,912 | 36,032 | 39,744 | 45,168 | 50,592 | 56,016 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | |
| J10 | BILLED TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 10,800 | 25,200 | 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 | |
| J11 | BILLED TO DATE | 21,600 | 21,600 | 50,400 | 50,400 | 50,400 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | |
| J12 | BILLED TO DATE | 0 | 0 | 0 | 0 | 7,200 | 16,800 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | |
| J01 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 20,039.02 | 3,468.29 | -15,800 | 23,507.32 | -2,697.56 | 27,762.86 | 12,414.29 | 2,482.86 | -14,144.7619 | -30,772.381 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J02 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 5,251.28 | 11,979.49 | -6,071.79 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J03 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 6,662.5 | -5,525 | 3,087.5 | -8,287.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J04 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J05 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J06 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J07 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 3,719.15 | -6,791.49 | 1,536.17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J08 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,800 | -8,800 | 8,800 | -8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8,800 | 0 | |
| J09 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J10 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 400 | 7,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J11 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 11,781.82 | -1,309.09 | 13,581.82 | 490.91 | -11,781.82 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J12 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J01 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 1,671.4286 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J02 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J03 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J04 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J05 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J06 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J07 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J08 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J09 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J10 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J11 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J12 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Own hours | SIGNED PROJECTS: TOTALS | 660 | 882 | 1,134 | 1,119 | 1,013 | 983 | 915 | 506 | 1,239.25 | 701.25 | 701.25 | 456.25 | 220 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10,310 | 220 | |
| Subcontract hours | SIGNED PROJECTS: TOTALS | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 123.3333 | 123.3333 | 123.3333 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,350 | 0 | |
| Revenue: signed projects | SIGNED PROJECTS: TOTALS | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 48,741.619 | 48,741.619 | 32,114 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 754,992.2 | 17,600 | |
| Billing: signed projects | SIGNED PROJECTS: TOTALS | 53,712 | 45,708 | 75,904 | 116,152 | 58,784 | 64,440 | 53,952 | 43,968 | 73,518 | 14,514 | 97,114 | 14,514 | 26,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 712,280 | 26,400 | |
| Contract liabilities: projects billed ahead of progress | SIGNED PROJECTS: TOTALS | 37,072.12 | 15,447.78 | 20,244.32 | 23,998.23 | 3,087.5 | 31,482.01 | 12,814.29 | 11,219.03 | 8,800 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Contract assets: progress ahead of billing | SIGNED PROJECTS: TOTALS | 0 | 1,309.09 | 21,871.79 | 5,525 | 14,479.38 | 8,287.5 | 6,791.49 | 0 | 14,144.7619 | 39,572.381 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,800 | 0 | |
| Check: change in net position equals billing less revenue (must be zero) | SIGNED PROJECTS: TOTALS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| PROVISION: ONEROUS PROJECTS | SIGNED PROJECTS: TOTALS | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 1,671.4286 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Movement in the provision (charged to cost of revenue; released as the loss-making work is done) | SIGNED PROJECTS: TOTALS | 0 | 0 | 0 | 0 | 0 | 10,147.14 | -4,731.43 | -2,908.57 | -835.7114 | -835.7143 | -835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Signed backlog: revenue still to recognise on signed projects | SIGNED PROJECTS: TOTALS | fixed fee: fee - revenue to date; T&M: remaining hours x rate | 722,040.12 | 653,398.69 | 561,728.53 | 465,677.23 | 377,028.12 | 347,174.51 | 276,050.8 | 237,279.03 | 147,197.2381 | 98,455.619 | 49,714 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 0 |
| Revenue | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | MAX(0, run-rate x seasonality - signed revenue) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 55,658.381 | 50,258.381 | 62,386 | 67,900 | 89,100 | 95,400 | 91,800 | 87,300 | 99,000 | 83,700 | 54,000 | 94,500 | 104,400 | 99,000 | 94,500 | 168,302.7619 | 1,060,600 |
| Hours | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | revenue / realised rate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 818.5056 | 739.0938 | 917.4412 | 998.5294 | 1,310.2941 | 1,402.9412 | 1,350 | 1,283.8235 | 1,455.8824 | 1,230.8824 | 794.1176 | 1,389.7059 | 1,535.2941 | 1,455.8824 | 1,389.7059 | 2,475.0406 | 15,597.0588 |
| Own hours | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | hours x own share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 736.655 | 665.1845 | 825.6971 | 898.6765 | 1,179.2647 | 1,262.6471 | 1,215 | 1,155.4412 | 1,310.2941 | 1,107.7941 | 714.7059 | 1,250.7353 | 1,381.7647 | 1,310.2941 | 1,250.7353 | 2,227.5366 | 14,037.3529 |
| Subcontract hours | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 81.8506 | 73.9094 | 91.7441 | 99.8529 | 131.0294 | 140.2941 | 135 | 128.3824 | 145.5882 | 123.0882 | 79.4118 | 138.9706 | 153.5294 | 145.5882 | 138.9706 | 247.5041 | 1,559.7059 | |
| Credit note on the disputed J11 milestone | THE DISPUTED J11 FINAL MILESTONE (credit note, if any, reduces revenue when agreed) | Receivables | 0 | 0 | 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 REVENUE | PROJECTS: TOTALS | signed + new + credit notes | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 104,400 | 99,000 | 94,500 | 85,500 | 89,100 | 95,400 | 91,800 | 87,300 | 99,000 | 83,700 | 54,000 | 94,500 | 104,400 | 99,000 | 94,500 | 923,294.9619 | 1,078,200 |
| Project billing (ex VAT) | PROJECTS: TOTALS | signed + new | 53,712 | 45,708 | 75,904 | 116,152 | 58,784 | 64,440 | 53,952 | 43,968 | 73,518 | 70,172.381 | 147,372.381 | 76,900 | 94,300 | 89,100 | 95,400 | 91,800 | 87,300 | 99,000 | 83,700 | 54,000 | 94,500 | 104,400 | 99,000 | 94,500 | 880,582.7619 | 1,087,000 |
| of which customers in Portugal | PROJECTS: TOTALS | register country; new work at the Portugal share | 32,112 | 39,248 | 39,080 | 108,536 | 51,304 | 34,952 | 46,880 | 39,072 | 63,114 | 61,823.6238 | 139,833.6238 | 67,542.1 | 84,115 | 75,735 | 81,090 | 78,030 | 74,205 | 84,150 | 71,145 | 45,900 | 80,325 | 88,740 | 84,150 | 80,325 | 723,497.3476 | 927,910 |
| Own hours (signed and new) | PROJECTS: TOTALS | 660 | 882 | 1,134 | 1,119 | 1,013 | 983 | 915 | 506 | 1,239.25 | 1,437.905 | 1,366.4345 | 1,281.9471 | 1,118.6765 | 1,179.2647 | 1,262.6471 | 1,215 | 1,155.4412 | 1,310.2941 | 1,107.7941 | 714.7059 | 1,250.7353 | 1,381.7647 | 1,310.2941 | 1,250.7353 | 12,537.5366 | 14,257.3529 | |
| Subcontract hours (signed and new) | PROJECTS: TOTALS | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 123.3333 | 205.1839 | 197.2427 | 91.7441 | 99.8529 | 131.0294 | 140.2941 | 135 | 128.3824 | 145.5882 | 123.0882 | 79.4118 | 138.9706 | 153.5294 | 145.5882 | 138.9706 | 1,597.5041 | 1,559.7059 | |
| Cabling and electrical subcontractors | PROJECTS: TOTALS | A: supplier invoices; F: monthly level x inflation | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 18,000 | 18,450 |
| SUBCONTRACTORS | PROJECTS: TOTALS | hours x rate + cabling | 3,140 | 4,780 | 8,060 | 13,800 | 16,260 | 17,900 | 17,080 | 11,340 | 11,613.3333 | 18,325.0793 | 17,673.9028 | 9,023.0176 | 9,725.4412 | 12,281.9118 | 13,041.6176 | 12,607.5 | 12,064.8529 | 13,475.7353 | 11,630.7353 | 8,049.2647 | 12,933.0882 | 14,126.9118 | 13,475.7353 | 12,933.0882 | 148,995.3331 | 146,345.8824 |
| Project team FTE (project engineers and managers) | PROJECTS: TOTALS | People | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 12.8917 | 12.7842 | 12.786 | 12.7869 | 13.7869 | 13.7786 | 13.7703 | 13.7704 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 12.7869 | 13.7705 |
| Project team utilisation (own hours / productive hours) | PROJECTS: TOTALS | 45.56% | 56.82% | 73.06% | 75.43% | 65.99% | 66.26% | 65.46% | 40.14% | 83.27% | 94.2% | 88.53% | 87.85% | 67.21% | 71.68% | 76.8% | 77.32% | 71.06% | 83.38% | 74.82% | 53.53% | 78.68% | 84.04% | 78.82% | 79.59% | 70.21% | 74.74% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HARDWARE REVENUE | A: ledger; F: run-rate x seasonality x demand factor | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 245,440 | 266,240 | 222,560 | 203,840 | 183,040 | 191,360 | 218,400 | 197,600 | 208,000 | 232,960 | 191,360 | 124,800 | 245,440 | 266,240 | 222,560 | 203,840 | 2,513,080 | 2,485,600 | |
| Cost of hardware sold before rebates | A: ledger; F: revenue x (1 - margin) | 161,634 | 171,587 | 195,328 | 175,473 | 184,652 | 208,012 | 170,912 | 105,633 | 214,023.68 | 232,161.28 | 194,072.32 | 177,748.48 | 159,610.88 | 166,865.92 | 190,444.8 | 172,307.2 | 181,376 | 203,141.12 | 166,865.92 | 108,825.6 | 214,023.68 | 232,161.28 | 194,072.32 | 177,748.48 | 2,191,236.76 | 2,167,443.2 | |
| Gross margin before rebates | 24,366 | 25,413 | 28,672 | 25,527 | 27,348 | 29,988 | 25,088 | 15,367 | 31,416.32 | 34,078.72 | 28,487.68 | 26,091.52 | 23,429.12 | 24,494.08 | 27,955.2 | 25,292.8 | 26,624 | 29,818.88 | 24,494.08 | 15,974.4 | 31,416.32 | 34,078.72 | 28,487.68 | 26,091.52 | 321,843.24 | 318,156.8 | ||
| Margin % before rebates | 13.1% | 12.9% | 12.8% | 12.7% | 12.9% | 12.6% | 12.8% | 12.7% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.8% | 12.81% | 12.8% | ||
| Distributor rebate accrued | Rebates | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 3,917.3814 | 3,556.9589 | 2,696.8856 | 2,511.8236 | 2,271.2956 | 2,673.2482 | 2,895.2875 | 2,500.6485 | 2,743.1657 | 3,240.4285 | 2,211.383 | 1,239.2076 | 3,971.3153 | 3,556.9589 | 2,696.8856 | 2,511.8236 | 32,625.1695 | 32,511.648 | |
| COST OF HARDWARE NET OF REBATES | 159,548.42 | 168,977.73 | 192,164.33 | 172,919.52 | 181,989.98 | 204,684.57 | 168,585.51 | 104,418.82 | 210,106.2986 | 228,604.3211 | 191,375.4344 | 175,236.6564 | 157,339.5844 | 164,192.6718 | 187,549.5125 | 169,806.5515 | 178,632.8343 | 199,900.6915 | 164,654.537 | 107,586.3924 | 210,052.3647 | 228,604.3211 | 191,375.4344 | 175,236.6564 | 2,158,611.5905 | 2,134,931.552 | ||
| Gross margin after rebates | 26,451.58 | 28,022.27 | 31,835.67 | 28,080.48 | 30,010.02 | 33,315.43 | 27,414.49 | 16,581.18 | 35,333.7014 | 37,635.6789 | 31,184.5656 | 28,603.3436 | 25,700.4156 | 27,167.3282 | 30,850.4875 | 27,793.4485 | 29,367.1657 | 33,059.3085 | 26,705.463 | 17,213.6076 | 35,387.6353 | 37,635.6789 | 31,184.5656 | 28,603.3436 | 354,468.4095 | 350,668.448 | ||
| Margin % after rebates | 14.22% | 14.22% | 14.21% | 13.97% | 14.16% | 14% | 13.99% | 13.7% | 14.4% | 14.14% | 14.01% | 14.03% | 14.04% | 14.2% | 14.13% | 14.07% | 14.12% | 14.19% | 13.96% | 13.79% | 14.42% | 14.14% | 14.01% | 14.03% | 14.1% | 14.11% | ||
| STOCK AT MONTH END | A: count; F: cost x days / days in month | 73,904.6 | 76,268.62 | 91,851.66 | 86,610.7 | 79,426.39 | 93,242.97 | 77,430.33 | 52,742.81 | 99,877.7173 | 104,847.0297 | 90,567.0827 | 80,273.5071 | 72,082.3329 | 83,432.96 | 86,007.329 | 80,410.0267 | 81,911.7419 | 94,799.1893 | 75,358.8026 | 49,147.0452 | 99,877.7173 | 104,847.0297 | 90,567.0827 | 80,273.5071 | 80,273.5071 | 80,273.5071 | |
| Purchases | cost + closing stock - opening stock | 139,038.6 | 173,951.02 | 210,911.04 | 170,232.04 | 177,467.69 | 221,828.58 | 155,099.36 | 80,945.48 | 261,158.5873 | 237,130.5923 | 179,792.373 | 167,454.9044 | 151,419.7058 | 178,216.5471 | 193,019.169 | 166,709.8976 | 182,877.7153 | 216,028.5674 | 147,425.5332 | 82,613.8426 | 264,754.3522 | 237,130.5923 | 179,792.373 | 167,454.9044 | 2,175,010.2671 | 2,167,443.2 | |
| Revenue from customers in Spain (exempt intra-EU supply) | revenue x share | 22,320 | 23,640 | 26,880 | 24,120 | 25,440 | 28,560 | 23,520 | 14,520 | 29,452.8 | 31,948.8 | 26,707.2 | 24,460.8 | 21,964.8 | 22,963.2 | 26,208 | 23,712 | 24,960 | 27,955.2 | 22,963.2 | 14,976 | 29,452.8 | 31,948.8 | 26,707.2 | 24,460.8 | 301,569.6 | 298,272 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BUNDLED LICENCES (principal) | A: billing; F: users x cover x price | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 69,001.5886 | 68,717.4282 | 73,337.6335 | 73,308.0784 | 76,597.0091 | 77,793.784 | 77,201.2995 | 77,916.6386 | 78,011.8873 | 78,193.6596 | 78,304.0056 | 77,970.5266 | 78,152.3798 | 78,278.4327 | 78,351.9045 | 78,534.8007 | 822,656.6186 | 935,306.328 |
| Vendor cost | BUNDLED LICENCES (principal) | A: distributor invoices; F: users x cover x cost | 55,539.59 | 55,723.08 | 57,075.79 | 57,176.08 | 56,180.58 | 56,178.4 | 57,775.93 | 58,080.45 | 58,230.6089 | 57,990.8052 | 61,889.8078 | 61,864.8661 | 64,640.4028 | 65,650.364 | 65,150.365 | 65,754.0414 | 65,834.422 | 65,987.82 | 66,080.9413 | 65,799.5176 | 65,952.984 | 66,059.3602 | 66,121.3633 | 66,275.7099 | 693,705.988 | 789,307.2914 |
| Billed to customers | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | A: billing; F: same month a year earlier x (1 + change) | 243,500 | 13,100 | 19,200 | 14,900 | 9,600 | 17,300 | 11,600 | 6,400 | 22,880 | 15,600 | 12,480 | 26,000 | 253,240 | 13,624 | 19,968 | 15,496 | 9,984 | 17,992 | 12,064 | 6,656 | 23,795.2 | 16,224 | 12,979.2 | 27,040 | 412,560 | 429,062.4 |
| REVENUE (billings of the last 12 months / 12) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | 33,625 | 33,716.6667 | 33,816.6667 | 33,891.6667 | 33,941.6667 | 34,050 | 34,100 | 34,133.3333 | 34,206.6667 | 34,256.6667 | 34,296.6667 | 34,380 | 35,191.6667 | 35,235.3333 | 35,299.3333 | 35,349 | 35,381 | 35,438.6667 | 35,477.3333 | 35,498.6667 | 35,574.9333 | 35,626.9333 | 35,668.5333 | 35,755.2 | 408,415 | 425,496.6 | |
| CONTRACT LIABILITY: ANNUAL LICENCES BILLED AHEAD | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | opening + billed - revenue | 294,875 | 274,258.3333 | 259,641.6667 | 240,650 | 216,308.3333 | 199,558.3333 | 177,058.3333 | 149,325 | 137,998.3333 | 119,341.6667 | 97,525 | 89,145 | 307,193.3333 | 285,582 | 270,250.6667 | 250,397.6667 | 225,000.6667 | 207,554 | 184,140.6667 | 155,298 | 143,518.2667 | 124,115.3333 | 101,426 | 92,710.8 | 89,145 | 92,710.8 |
| Per billing schedule: billings of the last 11 months x months still to run / 12 | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | independent calculation | 294,875 | 274,258.3333 | 259,641.6667 | 240,650 | 216,308.3333 | 199,558.3333 | 177,058.3333 | 149,325 | 137,998.3333 | 119,341.6667 | 97,525 | 89,145 | 307,193.3333 | 285,582 | 270,250.6667 | 250,397.6667 | 225,000.6667 | 207,554 | 184,140.6667 | 155,298 | 143,518.2667 | 124,115.3333 | 101,426 | 92,710.8 | 89,145 | 92,710.8 |
| Check: roll-forward less schedule (must be zero) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Vendor cost invoiced (prepaid for the year) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | billed x (1 - margin) | 185,060 | 9,956 | 14,592 | 11,324 | 7,296 | 13,148 | 8,816 | 4,864 | 17,388.8 | 11,856 | 9,484.8 | 19,760 | 192,462.4 | 10,354.24 | 15,175.68 | 11,776.96 | 7,587.84 | 13,673.92 | 9,168.64 | 5,058.56 | 18,084.352 | 12,330.24 | 9,864.192 | 20,550.4 | 313,545.6 | 326,087.424 |
| Vendor cost recognised | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | revenue x (1 - margin) | 25,555 | 25,624.6667 | 25,700.6667 | 25,757.6667 | 25,795.6667 | 25,878 | 25,916 | 25,941.3333 | 25,997.0667 | 26,035.0667 | 26,065.4667 | 26,128.8 | 26,745.6667 | 26,778.8533 | 26,827.4933 | 26,865.24 | 26,889.56 | 26,933.3867 | 26,962.7733 | 26,978.9867 | 27,036.9493 | 27,076.4693 | 27,108.0853 | 27,173.952 | 310,395.4 | 323,377.416 |
| PREPAID ANNUAL LICENCE COSTS | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | opening + invoiced - recognised | 224,105 | 208,436.3333 | 197,327.6667 | 182,894 | 164,394.3333 | 151,664.3333 | 134,564.3333 | 113,487 | 104,878.7333 | 90,699.6667 | 74,119 | 67,750.2 | 233,466.9333 | 217,042.32 | 205,390.5067 | 190,302.2267 | 171,000.5067 | 157,741.04 | 139,946.9067 | 118,026.48 | 109,073.8827 | 94,327.6533 | 77,083.76 | 70,460.208 | 67,750.2 | 70,460.208 |
| Check: prepaid cost equals the contract liability x (1 - margin) (must be zero) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Gross billing to customers (memo: not revenue) | LICENCES RESOLD AS AGENT (net) | A: billing; F: run-rate x seasonality x factor | 49,000 | 54,000 | 66,000 | 57,000 | 58,000 | 61,000 | 55,000 | 38,000 | 61,097 | 65,094 | 69,662 | 75,372 | 46,822 | 50,248 | 61,668 | 53,103 | 54,816 | 58,242 | 52,532 | 36,544 | 61,097 | 65,094 | 69,662 | 75,372 | 709,225 | 685,200 |
| Due to the vendor (gross less commission) | LICENCES RESOLD AS AGENT (net) | 43,365 | 47,790 | 58,410 | 50,445 | 51,330 | 53,985 | 48,675 | 33,630 | 54,070.845 | 57,608.19 | 61,650.87 | 66,704.22 | 41,437.47 | 44,469.48 | 54,576.18 | 46,996.155 | 48,512.16 | 51,544.17 | 46,490.82 | 32,341.44 | 54,070.845 | 57,608.19 | 61,650.87 | 66,704.22 | 627,664.125 | 606,402 | |
| Commission | LICENCES RESOLD AS AGENT (net) | gross x commission rate | 5,635 | 6,210 | 7,590 | 6,555 | 6,670 | 7,015 | 6,325 | 4,370 | 7,026.155 | 7,485.81 | 8,011.13 | 8,667.78 | 5,384.53 | 5,778.52 | 7,091.82 | 6,106.845 | 6,303.84 | 6,697.83 | 6,041.18 | 4,202.56 | 7,026.155 | 7,485.81 | 8,011.13 | 8,667.78 | 81,560.875 | 78,798 |
| Vendor incentive on agent sales | LICENCES RESOLD AS AGENT (net) | Rebates | 1,300.95 | 1,433.7 | 1,752.3 | 1,513.35 | 1,539.9 | 1,619.55 | 1,460.25 | 1,008.9 | 1,622.1254 | 1,728.2457 | 1,849.5261 | 2,001.1266 | 1,243.1241 | 1,334.0844 | 1,637.2854 | 1,409.8846 | 1,455.3648 | 1,546.3251 | 1,394.7246 | 970.2432 | 1,622.1254 | 1,728.2457 | 1,849.5261 | 2,001.1266 | 18,829.9238 | 18,192.06 |
| AGENT REVENUE (commission + incentive) | LICENCES RESOLD AS AGENT (net) | 6,935.95 | 7,643.7 | 9,342.3 | 8,068.35 | 8,209.9 | 8,634.55 | 7,785.25 | 5,378.9 | 8,648.2804 | 9,214.0557 | 9,860.6561 | 10,668.9066 | 6,627.6541 | 7,112.6044 | 8,729.1054 | 7,516.7297 | 7,759.2048 | 8,244.1551 | 7,435.9046 | 5,172.8032 | 8,648.2804 | 9,214.0557 | 9,860.6561 | 10,668.9066 | 100,390.7988 | 96,990.06 | |
| Licence distributor invoices, ex VAT (bundled + annual + agent) | TOTALS | 283,964.59 | 113,469.08 | 130,077.79 | 118,945.08 | 114,806.58 | 123,311.4 | 115,266.93 | 96,574.45 | 129,690.2539 | 127,454.9952 | 133,025.4778 | 148,329.0861 | 298,540.2728 | 120,474.084 | 134,902.225 | 124,527.1564 | 121,934.422 | 131,205.91 | 121,740.4013 | 103,199.5176 | 138,108.181 | 135,997.7902 | 137,636.4253 | 153,530.3299 | 1,634,915.713 | 1,721,796.7154 | |
| LICENCE COST NET OF VENDOR INCENTIVES (bundled + annual recognised - incentive on principal licences) | TOTALS | 73,876.6 | 79,377.3767 | 80,626.4267 | 80,878.7467 | 80,071.9467 | 79,976.61 | 81,694.17 | 82,133.4533 | 81,959.0933 | 81,930.4677 | 85,814.0362 | 85,544.9201 | 83,672.9854 | 90,149.0792 | 89,568.077 | 90,293.3513 | 90,521.3141 | 90,531.3545 | 90,786.2272 | 90,652.7619 | 90,468.8132 | 90,784.1416 | 90,949.882 | 90,844.8786 | 973,883.8474 | 1,079,222.866 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hardware purchases | HARDWARE DISTRIBUTOR REBATE | Hardware | 139,038.6 | 173,951.02 | 210,911.04 | 170,232.04 | 177,467.69 | 221,828.58 | 155,099.36 | 80,945.48 | 261,158.5873 | 237,130.5923 | 179,792.373 | 167,454.9044 | 151,419.7058 | 178,216.5471 | 193,019.169 | 166,709.8976 | 182,877.7153 | 216,028.5674 | 147,425.5332 | 82,613.8426 | 264,754.3522 | 237,130.5923 | 179,792.373 | 167,454.9044 | 2,175,010.2671 | 2,167,443.2 |
| Purchases in the quarter (actual and forecast months) | HARDWARE DISTRIBUTOR REBATE | 523,900.66 | 523,900.66 | 523,900.66 | 569,528.31 | 569,528.31 | 569,528.31 | 497,203.4273 | 497,203.4273 | 497,203.4273 | 584,377.8698 | 584,377.8698 | 584,377.8698 | 522,655.4219 | 522,655.4219 | 522,655.4219 | 565,616.1803 | 565,616.1803 | 565,616.1803 | 494,793.728 | 494,793.728 | 494,793.728 | 584,377.8698 | 584,377.8698 | 584,377.8698 | |||
| Tier rate the quarter earns | HARDWARE DISTRIBUTOR REBATE | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | |||
| Purchases in the quarter to date | HARDWARE DISTRIBUTOR REBATE | 139,038.6 | 312,989.62 | 523,900.66 | 170,232.04 | 347,699.73 | 569,528.31 | 155,099.36 | 236,044.84 | 497,203.4273 | 237,130.5923 | 416,922.9653 | 584,377.8698 | 151,419.7058 | 329,636.2529 | 522,655.4219 | 166,709.8976 | 349,587.6129 | 565,616.1803 | 147,425.5332 | 230,039.3758 | 494,793.728 | 237,130.5923 | 416,922.9653 | 584,377.8698 | |||
| REBATE ACCRUED | HARDWARE DISTRIBUTOR REBATE | A: CFO estimate; F: rate x quarter to date - accrued earlier in the quarter | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 3,917.3814 | 3,556.9589 | 2,696.8856 | 2,511.8236 | 2,271.2956 | 2,673.2482 | 2,895.2875 | 2,500.6485 | 2,743.1657 | 3,240.4285 | 2,211.383 | 1,239.2076 | 3,971.3153 | 3,556.9589 | 2,696.8856 | 2,511.8236 | 32,625.1695 | 32,511.648 |
| Accrued in the quarter to date | HARDWARE DISTRIBUTOR REBATE | 2,085.58 | 4,694.85 | 7,858.52 | 2,553.48 | 5,215.5 | 8,542.93 | 2,326.49 | 3,540.67 | 7,458.0514 | 3,556.9589 | 6,253.8445 | 8,765.668 | 2,271.2956 | 4,944.5438 | 7,839.8313 | 2,500.6485 | 5,243.8142 | 8,484.2427 | 2,211.383 | 3,450.5906 | 7,421.9059 | 3,556.9589 | 6,253.8445 | 8,765.668 | |||
| Rebate received (end of the second month after the quarter) | HARDWARE DISTRIBUTOR REBATE | A: bank; F: accrual of the prior quarter | 0 | 19,612.92 | 0 | 0 | 7,858.52 | 0 | 0 | 8,542.93 | 0 | 0 | 7,458.0514 | 0 | 0 | 8,765.668 | 0 | 0 | 7,839.8313 | 0 | 0 | 8,484.2427 | 0 | 0 | 7,421.9059 | 0 | 43,472.4214 | 32,511.648 |
| Incentive on principal licences (reduces licence cost) | LICENCE VENDOR INCENTIVES | A: vendor statement; F: rate x (bundled cost + annual cost invoiced) | 7,217.99 | 1,970.37 | 2,150.03 | 2,055 | 1,904.3 | 2,079.79 | 1,997.76 | 1,888.33 | 2,268.5823 | 2,095.4042 | 2,141.2382 | 2,448.746 | 7,713.0841 | 2,280.1381 | 2,409.7813 | 2,325.93 | 2,202.6679 | 2,389.8522 | 2,257.4874 | 2,125.7423 | 2,521.1201 | 2,351.688 | 2,279.5667 | 2,604.7833 | 30,217.5406 | 33,461.8415 |
| of which on bundled licences (managed services) | LICENCE VENDOR INCENTIVES | by vendor cost | 1,666.1882 | 1,671.6904 | 1,712.2708 | 1,715.2804 | 1,685.4197 | 1,685.3504 | 1,733.2797 | 1,742.4103 | 1,746.9183 | 1,739.7242 | 1,856.6942 | 1,855.946 | 1,939.2121 | 1,969.5109 | 1,954.5109 | 1,972.6212 | 1,975.0327 | 1,979.6346 | 1,982.4282 | 1,973.9855 | 1,978.5895 | 1,981.7808 | 1,983.6409 | 1,988.2713 | 20,811.1725 | 23,679.2187 |
| of which on annual licences (licence resale) | LICENCE VENDOR INCENTIVES | 5,551.8018 | 298.6796 | 437.7592 | 339.7196 | 218.8803 | 394.4396 | 264.4803 | 145.9197 | 521.664 | 355.68 | 284.544 | 592.8 | 5,773.872 | 310.6272 | 455.2704 | 353.3088 | 227.6352 | 410.2176 | 275.0592 | 151.7568 | 542.5306 | 369.9072 | 295.9258 | 616.512 | 9,406.3682 | 9,782.6227 | |
| Incentive on licences resold as agent (agent revenue) | LICENCE VENDOR INCENTIVES | A: vendor statement; F: rate x amount due to the vendor | 1,300.95 | 1,433.7 | 1,752.3 | 1,513.35 | 1,539.9 | 1,619.55 | 1,460.25 | 1,008.9 | 1,622.1254 | 1,728.2457 | 1,849.5261 | 2,001.1266 | 1,243.1241 | 1,334.0844 | 1,637.2854 | 1,409.8846 | 1,455.3648 | 1,546.3251 | 1,394.7246 | 970.2432 | 1,622.1254 | 1,728.2457 | 1,849.5261 | 2,001.1266 | 18,829.9238 | 18,192.06 |
| Incentives received (second month after the quarter) | LICENCE VENDOR INCENTIVES | A: bank; F: accruals of the prior quarter | 0 | 12,530.38 | 0 | 0 | 15,825.34 | 0 | 0 | 10,711.89 | 0 | 0 | 10,245.9476 | 0 | 0 | 12,264.2868 | 0 | 0 | 16,617.4975 | 0 | 0 | 11,330.0247 | 0 | 0 | 10,891.443 | 0 | 49,313.5576 | 51,103.2519 |
| Rebates and incentives accrued | RECEIVABLE | 10,604.52 | 6,013.34 | 7,066 | 6,121.83 | 6,106.22 | 7,026.77 | 5,784.5 | 4,111.41 | 7,808.089 | 7,380.6087 | 6,687.6499 | 6,961.6962 | 11,227.5038 | 6,287.4707 | 6,942.3543 | 6,236.4632 | 6,401.1984 | 7,176.6058 | 5,863.595 | 4,335.1932 | 8,114.5607 | 7,636.8926 | 6,825.9784 | 7,117.7335 | 81,672.6338 | 84,165.5495 | |
| Rebates and incentives received | RECEIVABLE | 0 | 32,143.3 | 0 | 0 | 23,683.86 | 0 | 0 | 19,254.82 | 0 | 0 | 17,703.999 | 0 | 0 | 21,029.9548 | 0 | 0 | 24,457.3288 | 0 | 0 | 19,814.2674 | 0 | 0 | 18,313.3489 | 0 | 92,785.979 | 83,614.8999 | |
| REBATES AND INCENTIVES RECEIVABLE | RECEIVABLE | opening + accrued - received | 42,747.82 | 16,617.86 | 23,683.86 | 29,805.69 | 12,228.05 | 19,254.82 | 25,039.32 | 9,895.91 | 17,703.999 | 25,084.6078 | 14,068.2587 | 21,029.9548 | 32,257.4586 | 17,514.9745 | 24,457.3288 | 30,693.7919 | 12,637.6615 | 19,814.2674 | 25,677.8624 | 10,198.7882 | 18,313.3489 | 25,950.2415 | 14,462.8709 | 21,580.6044 | 21,029.9548 | 21,580.6044 |
| Check: receivable equals the accruals of quarters not yet paid (must be zero) | RECEIVABLE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Hardware rebate earned, % of purchases | RECEIVABLE | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | REVENUE BY STREAM (IFRS 15) | Contracts | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,538.7029 | 237,376.5695 | 252,008.4211 | 251,930.2371 | 256,413.069 | 260,935.5666 | 260,253.7181 | 263,462.6812 | 264,109.049 | 264,741.5994 | 265,700.2716 | 265,901.387 | 266,521.3256 | 267,612.6968 | 268,586.5992 | 269,292.494 | 2,813,869.8407 | 3,173,530.4576 |
| Managed services: SLA credits (variable consideration) | REVENUE BY STREAM (IFRS 15) | Service_Desk | 0 | 0 | -3,235.73 | -4,841.71 | -5,441.04 | -3,820.12 | -11,314.01 | -9,000.4 | -8,319.2709 | -645.3668 | -9,176.7481 | -456.6435 | -1,068.3183 | -1,719.1687 | 0 | 0 | 0 | 0 | 0 | -1,408.7132 | 0 | 0 | 0 | 0 | -56,251.0392 | -4,196.2001 |
| Managed services: onboarding fees recognised | REVENUE BY STREAM (IFRS 15) | Contracts | 293.75 | 293.75 | 393.75 | 393.75 | 476.25 | 476.25 | 611.25 | 611.25 | 611.25 | 611.25 | 941.25 | 941.25 | 1,016.25 | 1,095 | 1,095 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 1,145 | 6,655 | 13,511.25 |
| Licences bundled in managed contracts (principal) | REVENUE BY STREAM (IFRS 15) | Licences | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 69,001.5886 | 68,717.4282 | 73,337.6335 | 73,308.0784 | 76,597.0091 | 77,793.784 | 77,201.2995 | 77,916.6386 | 78,011.8873 | 78,193.6596 | 78,304.0056 | 77,970.5266 | 78,152.3798 | 78,278.4327 | 78,351.9045 | 78,534.8007 | 822,656.6186 | 935,306.328 |
| Annual security and backup licences (principal, over 12 months) | REVENUE BY STREAM (IFRS 15) | Licences | 33,625 | 33,716.6667 | 33,816.6667 | 33,891.6667 | 33,941.6667 | 34,050 | 34,100 | 34,133.3333 | 34,206.6667 | 34,256.6667 | 34,296.6667 | 34,380 | 35,191.6667 | 35,235.3333 | 35,299.3333 | 35,349 | 35,381 | 35,438.6667 | 35,477.3333 | 35,498.6667 | 35,574.9333 | 35,626.9333 | 35,668.5333 | 35,755.2 | 408,415 | 425,496.6 |
| Licences resold as agent: commission and vendor incentive (net) | REVENUE BY STREAM (IFRS 15) | Licences | 6,935.95 | 7,643.7 | 9,342.3 | 8,068.35 | 8,209.9 | 8,634.55 | 7,785.25 | 5,378.9 | 8,648.2804 | 9,214.0557 | 9,860.6561 | 10,668.9066 | 6,627.6541 | 7,112.6044 | 8,729.1054 | 7,516.7297 | 7,759.2048 | 8,244.1551 | 7,435.9046 | 5,172.8032 | 8,648.2804 | 9,214.0557 | 9,860.6561 | 10,668.9066 | 100,390.7988 | 96,990.06 |
| Hardware (principal) | REVENUE BY STREAM (IFRS 15) | Hardware | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 245,440 | 266,240 | 222,560 | 203,840 | 183,040 | 191,360 | 218,400 | 197,600 | 208,000 | 232,960 | 191,360 | 124,800 | 245,440 | 266,240 | 222,560 | 203,840 | 2,513,080 | 2,485,600 |
| Projects | REVENUE BY STREAM (IFRS 15) | Projects | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 104,400 | 99,000 | 94,500 | 85,500 | 89,100 | 95,400 | 91,800 | 87,300 | 99,000 | 83,700 | 54,000 | 94,500 | 104,400 | 99,000 | 94,500 | 923,294.9619 | 1,078,200 |
| REVENUE | REVENUE BY STREAM (IFRS 15) | 565,487.86 | 596,889.5867 | 653,538.0567 | 633,432.8067 | 632,143.3767 | 602,238.1 | 602,404.58 | 496,657.4933 | 677,209.0095 | 720,170.6033 | 682,827.8793 | 669,111.8286 | 643,317.3306 | 660,913.1196 | 696,378.4564 | 674,790.0495 | 681,706.1412 | 719,723.0808 | 663,122.5151 | 563,079.6702 | 729,981.9191 | 762,517.1185 | 715,172.6931 | 693,736.4013 | 7,532,111.1807 | 8,204,438.4955 | |
| Managed services (fees, SLA credits, onboarding, bundled licences) | BY SERVICE LINE | 288,374.83 | 289,887.79 | 294,708.93 | 294,421.49 | 289,342.7 | 291,699.94 | 293,395.62 | 297,373.49 | 298,832.2706 | 306,059.8809 | 317,110.5565 | 325,722.922 | 332,958.0099 | 338,105.1818 | 338,550.0176 | 342,524.3198 | 343,265.9364 | 344,080.259 | 345,149.2772 | 343,608.2004 | 345,818.7055 | 347,036.1295 | 348,083.5037 | 348,972.2947 | 3,586,930.42 | 4,118,151.8355 | |
| Licence resale (annual and agent) | BY SERVICE LINE | 40,560.95 | 41,360.3667 | 43,158.9667 | 41,960.0167 | 42,151.5667 | 42,684.55 | 41,885.25 | 39,512.2333 | 42,854.947 | 43,470.7224 | 44,157.3228 | 45,048.9066 | 41,819.3208 | 42,347.9377 | 44,028.4387 | 42,865.7297 | 43,140.2048 | 43,682.8218 | 42,913.2379 | 40,671.4699 | 44,223.2137 | 44,840.989 | 45,529.1894 | 46,424.1066 | 508,805.7988 | 522,486.66 | |
| Hardware | BY SERVICE LINE | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 245,440 | 266,240 | 222,560 | 203,840 | 183,040 | 191,360 | 218,400 | 197,600 | 208,000 | 232,960 | 191,360 | 124,800 | 245,440 | 266,240 | 222,560 | 203,840 | 2,513,080 | 2,485,600 | |
| Projects | BY SERVICE LINE | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 104,400 | 99,000 | 94,500 | 85,500 | 89,100 | 95,400 | 91,800 | 87,300 | 99,000 | 83,700 | 54,000 | 94,500 | 104,400 | 99,000 | 94,500 | 923,294.9619 | 1,078,200 | |
| Recurring revenue (managed services and annual licences) | BY SERVICE LINE | 321,999.83 | 323,604.4567 | 328,525.5967 | 328,313.1567 | 323,284.3667 | 325,749.94 | 327,495.62 | 331,506.8233 | 333,038.9373 | 340,316.5476 | 351,407.2232 | 360,102.922 | 368,149.6765 | 373,340.5152 | 373,849.351 | 377,873.3198 | 378,646.9364 | 379,518.9257 | 380,626.6105 | 379,106.867 | 381,393.6388 | 382,663.0628 | 383,752.037 | 384,727.4947 | 3,995,345.42 | 4,543,648.4355 | |
| Recurring revenue, share of revenue | BY SERVICE LINE | 56.94% | 54.22% | 50.27% | 51.83% | 51.14% | 54.09% | 54.36% | 66.75% | 49.18% | 47.25% | 51.46% | 53.82% | 57.23% | 56.49% | 53.68% | 56% | 55.54% | 52.73% | 57.4% | 67.33% | 52.25% | 50.18% | 53.66% | 55.46% | 53.04% | 55.38% | |
| Revenue growth on the same month a year earlier | BY SERVICE LINE | History for 2025 | -10.12% | -8.75% | -8.11% | -7.22% | -8.64% | -20.6% | -10.55% | -9.12% | -11.45% | -10.52% | -8.71% | -7.63% | 13.76% | 10.73% | 6.56% | 6.53% | 7.84% | 19.51% | 10.08% | 13.37% | 7.79% | 5.88% | 4.74% | 3.68% | ||
| Managed services growth on the same month a year earlier | BY SERVICE LINE | History for 2025 | 12.48% | 10.28% | 9.31% | 8.71% | 6.47% | 5.42% | 5.69% | 7.42% | 5.79% | 7.92% | 11.44% | 14.22% | 15.46% | 16.63% | 14.88% | 16.34% | 18.64% | 17.96% | 17.64% | 15.55% | 15.72% | 13.39% | 9.77% | 7.14% | ||
| Gross billing of licences resold as agent (memo: not revenue) | BY SERVICE LINE | Licences | 49,000 | 54,000 | 66,000 | 57,000 | 58,000 | 61,000 | 55,000 | 38,000 | 61,097 | 65,094 | 69,662 | 75,372 | 46,822 | 50,248 | 61,668 | 53,103 | 54,816 | 58,242 | 52,532 | 36,544 | 61,097 | 65,094 | 69,662 | 75,372 | 709,225 | 685,200 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Service desk analysts | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 12.8483 | 13.6984 | 14.6903 | 14.6688 | 15.6575 | 15.6462 | 16.6348 | 16.6234 | 16.612 | 16.6123 | 16.6124 | 16.6124 | 16.6124 | 16.6124 | 16.6124 | 16.6124 | 14.6688 | 16.6124 |
| Support engineers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 12 | 12 | 12 | 11 | 10 | 10 | 10 | 10 | 9.8833 | 11.768 | 11.7474 | 11.7257 | 11.7261 | 11.7264 | 11.7264 | 11.7264 | 11.7264 | 12.7264 | 12.7147 | 12.7032 | 12.7035 | 12.7036 | 12.7036 | 12.7036 | 11.7257 | 12.7036 |
| Systems engineers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 6 | 6 | 6 | 6 | 6 | 5 | 5 | 5 | 4.9417 | 4.884 | 5.8854 | 5.8744 | 5.8628 | 5.8631 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8744 | 5.8632 |
| Field technicians | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 6 | 6 | 5 | 5 | 5 | 6 | 6 | 6 | 5.93 | 5.8608 | 5.8624 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 6.8632 | 6.8515 | 6.84 | 6.8403 | 6.8404 | 6.8404 | 6.8404 | 6.8404 | 6.8404 | 5.8632 | 6.8404 |
| NOC and security analysts | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.965 | 2.9304 | 2.9312 | 2.9316 | 3.9316 | 3.9199 | 3.9084 | 3.9087 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 2.9316 | 3.9088 |
| Service delivery managers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.9767 | 1.9536 | 1.9541 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 |
| Project engineers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 10.9083 | 10.8174 | 10.819 | 10.8197 | 11.8197 | 11.8113 | 11.8031 | 11.8032 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 10.8197 | 11.8033 |
| Project managers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.9833 | 1.9668 | 1.9671 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 |
| Sales director | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9875 | 0.9752 | 0.9755 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 |
| Account managers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 3.95 | 3.9006 | 3.9019 | 3.9025 | 4.9024 | 4.8899 | 4.8776 | 4.8779 | 4.8781 | 4.8781 | 4.878 | 4.878 | 4.878 | 4.878 | 4.878 | 4.878 | 3.9025 | 4.878 |
| Presales engineer | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9875 | 0.9752 | 0.9755 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 |
| Marketing | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9875 | 0.9752 | 0.9755 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 |
| Directors (CEO and CTO, founders) | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.99 | 1.9801 | 1.9801 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 |
| Finance | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.985 | 2.9701 | 2.9702 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 |
| People and HR | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.995 | 0.99 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 |
| Procurement and logistics | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.99 | 1.9801 | 1.9801 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 |
| Office administration | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.995 | 0.99 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 |
| TOTAL HEADCOUNT | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | 68 | 69 | 69 | 68 | 67 | 67 | 68 | 68 | 67.3042 | 69.6159 | 71.5958 | 71.5452 | 75.5227 | 75.4794 | 76.436 | 77.4253 | 77.4026 | 78.3913 | 78.38 | 78.3686 | 78.3689 | 78.369 | 78.369 | 78.369 | 71.5452 | 78.369 | |
| Service desk FTE (analysts, support and systems engineers, field technicians, NOC) | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | 39 | 39 | 38 | 37 | 36 | 36 | 37 | 37 | 36.5683 | 39.1417 | 41.1167 | 41.0637 | 43.0412 | 43.0188 | 43.996 | 44.9848 | 44.9619 | 45.9506 | 45.9394 | 45.928 | 45.9282 | 45.9283 | 45.9283 | 45.9283 | 41.0637 | 45.9283 | |
| Project team FTE (project engineers and managers) | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 12.8917 | 12.7842 | 12.786 | 12.7869 | 13.7869 | 13.7786 | 13.7703 | 13.7704 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 12.7869 | 13.7705 | |
| Service desk analysts | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1517 | 0.1499 | 0.1598 | 0.1714 | 0.1711 | 0.1827 | 0.1825 | 0.1941 | 0.1939 | 0.1938 | 0.1938 | 0.1938 | 0.1938 | 0.1938 | 0.1938 | 0.1938 | 0.6328 | 2.281 |
| Support engineers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1167 | 0.1153 | 0.1373 | 0.1371 | 0.1368 | 0.1368 | 0.1368 | 0.1368 | 0.1368 | 0.1368 | 0.1485 | 0.1483 | 0.1482 | 0.1482 | 0.1482 | 0.1482 | 0.5063 | 1.7105 |
| Systems engineers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0583 | 0.0577 | 0.057 | 0.0687 | 0.0685 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.2416 | 0.821 |
| Field technicians | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.07 | 0.0692 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0801 | 0.0799 | 0.0798 | 0.0798 | 0.0798 | 0.0798 | 0.0798 | 0.0798 | 0.276 | 0.9124 |
| NOC and security analysts | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.035 | 0.0346 | 0.0342 | 0.0342 | 0.0342 | 0.0459 | 0.0457 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.138 | 0.5362 |
| Service delivery managers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0233 | 0.0231 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.092 | 0.2736 |
| Project engineers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0917 | 0.0909 | 0.0901 | 0.0902 | 0.0902 | 0.0985 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.3629 | 1.1723 |
| Project managers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0167 | 0.0165 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.066 | 0.1967 |
| Sales director | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0125 | 0.0123 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0492 | 0.1463 |
| Account managers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.05 | 0.0494 | 0.0488 | 0.0488 | 0.0488 | 0.0613 | 0.0611 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.1969 | 0.72 |
| Presales engineer | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0125 | 0.0123 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0492 | 0.1463 |
| Marketing | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0125 | 0.0123 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0492 | 0.1463 |
| Directors (CEO and CTO, founders) | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0398 | 0.1188 |
| Finance | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.015 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0596 | 0.1782 |
| People and HR | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.0199 | 0.0594 |
| Procurement and logistics | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0398 | 0.1188 |
| Office administration | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.0199 | 0.0594 |
| Hires in the month (A: from the payroll; F: planned and replacements) | LEAVERS (forecast; fractional FTE) | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 0 | 3 | 2.6958 | 0.6883 | 4.7159 | 0.739 | 1.7384 | 1.7823 | 0.7818 | 1.7929 | 0.8045 | 0.8042 | 0.8158 | 0.8156 | 0.8155 | 0.8155 | 10.3841 | 16.4213 | |
| Planned hires in the month (hiring plan x scenario factor) | LEAVERS (forecast; fractional FTE) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 2 | 0 | 4 | 0 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 7 | |
| Leavers in the month (A: from the payroll; F: attrition) | LEAVERS (forecast; fractional FTE) | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0.6958 | 0.6883 | 0.7159 | 0.739 | 0.7384 | 0.7823 | 0.7818 | 0.7929 | 0.8045 | 0.8042 | 0.8158 | 0.8156 | 0.8155 | 0.8155 | 0.8155 | 0.8155 | 6.8389 | 9.5974 | |
| L1: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 14,400 | 14,400 | 14,400 | 14,400 | 14,400 | 14,400 | 15,600 | 15,600 | 15,418 | 16,438.1233 | 17,628.3452 | 17,602.5579 | 19,352.642 | 19,338.6951 | 20,560.6011 | 20,546.5082 | 20,532.4171 | 20,532.7459 | 20,532.9064 | 20,532.9007 | 20,532.8989 | 20,532.899 | 20,532.899 | 20,532.899 | 184,687.0264 | 244,061.0124 |
| L2: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 19,800 | 19,800 | 19,800 | 18,150 | 16,500 | 16,500 | 16,500 | 16,500 | 16,307.5 | 19,417.2458 | 19,383.2113 | 19,347.328 | 19,928.588 | 19,929.0094 | 19,928.9947 | 19,928.99 | 19,928.9902 | 21,628.4902 | 21,608.6627 | 21,589.0665 | 21,589.5265 | 21,589.7497 | 21,589.7418 | 21,589.7393 | 218,005.2851 | 250,829.5491 |
| L3: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 14,100 | 14,100 | 14,100 | 14,100 | 14,100 | 11,750 | 11,750 | 11,750 | 11,612.9167 | 11,477.4326 | 13,830.6126 | 13,804.7395 | 14,190.9152 | 14,191.5524 | 14,191.8712 | 14,191.8601 | 14,191.8565 | 14,191.8566 | 14,191.8567 | 14,191.8567 | 14,191.8567 | 14,191.8567 | 14,191.8567 | 14,191.8567 | 156,475.7014 | 170,301.052 |
| FLD: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 7,800 | 7,800 | 6,500 | 6,500 | 6,500 | 7,800 | 7,800 | 7,800 | 7,709 | 7,619.0617 | 7,621.1726 | 7,622.1973 | 7,850.8255 | 7,850.8136 | 7,850.8142 | 9,189.8143 | 9,174.1927 | 9,158.7533 | 9,159.1156 | 9,159.2915 | 9,159.2852 | 9,159.2833 | 9,159.2834 | 9,159.2834 | 89,071.4315 | 106,030.756 |
| NOC: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,188.75 | 5,128.2146 | 5,129.6354 | 5,130.3251 | 7,086.7095 | 7,065.6723 | 7,044.8889 | 7,045.3768 | 7,045.6136 | 7,045.6051 | 7,045.6024 | 7,045.6026 | 7,045.6026 | 7,045.6026 | 7,045.6026 | 7,045.6026 | 62,576.9251 | 84,607.4816 |
| SDM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,238.1667 | 5,177.0547 | 5,178.4891 | 5,179.1853 | 5,334.5353 | 5,334.5272 | 5,334.5276 | 5,334.5277 | 5,334.5277 | 5,334.5277 | 5,334.5277 | 5,334.5277 | 5,334.5277 | 5,334.5277 | 5,334.5277 | 5,334.5277 | 63,172.8958 | 64,014.3393 |
| PEN: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 21,500 | 23,650 | 23,650 | 23,650 | 23,650 | 23,650 | 23,650 | 23,650 | 23,452.9167 | 23,257.4757 | 23,260.7467 | 23,262.3481 | 26,174.6768 | 26,156.2092 | 26,137.9093 | 26,138.2157 | 26,138.3656 | 26,138.3618 | 26,138.3606 | 26,138.3606 | 26,138.3607 | 26,138.3607 | 26,138.3607 | 26,138.3607 | 280,283.4872 | 313,713.9023 |
| PM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,652.5 | 5,605.3958 | 5,606.1842 | 5,606.5702 | 5,774.7572 | 5,774.754 | 5,774.7541 | 5,774.7541 | 5,774.7541 | 5,774.7541 | 5,774.7541 | 5,774.7541 | 5,774.7541 | 5,774.7541 | 5,774.7541 | 5,774.7541 | 68,070.6502 | 69,297.0521 |
| SD: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,555 | 3,510.5625 | 3,511.6805 | 3,512.222 | 3,617.5673 | 3,617.5606 | 3,617.5609 | 3,617.561 | 3,617.561 | 3,617.561 | 3,617.561 | 3,617.561 | 3,617.561 | 3,617.561 | 3,617.561 | 3,617.561 | 42,889.4649 | 43,410.7375 |
| AM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 6,000 | 6,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 7,900 | 7,801.25 | 7,803.7344 | 7,804.9377 | 10,099.0383 | 10,073.2734 | 10,047.8461 | 10,048.486 | 10,048.7958 | 10,048.784 | 10,048.7803 | 10,048.7804 | 10,048.7805 | 10,048.7805 | 10,048.7805 | 10,048.7805 | 91,309.9221 | 120,658.9064 |
| PSE: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,567.5 | 2,535.4062 | 2,536.2137 | 2,536.6048 | 2,612.6875 | 2,612.6826 | 2,612.6829 | 2,612.6829 | 2,612.6829 | 2,612.6829 | 2,612.6829 | 2,612.6829 | 2,612.6829 | 2,612.6829 | 2,612.6829 | 2,612.6829 | 30,975.7247 | 31,352.1993 |
| MKT: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,777.5 | 1,755.2812 | 1,755.8402 | 1,756.111 | 1,808.7836 | 1,808.7803 | 1,808.7805 | 1,808.7805 | 1,808.7805 | 1,808.7805 | 1,808.7805 | 1,808.7805 | 1,808.7805 | 1,808.7805 | 1,808.7805 | 1,808.7805 | 21,444.7325 | 21,705.3687 |
| DIR: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 9,950 | 9,900.25 | 9,900.7488 | 9,900.995 | 10,198.021 | 10,198.0198 | 10,198.0198 | 10,198.0198 | 10,198.0198 | 10,198.0198 | 10,198.0198 | 10,198.0198 | 10,198.0198 | 10,198.0198 | 10,198.0198 | 10,198.0198 | 119,651.9938 | 122,376.2388 |
| FIN: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 5,970 | 5,940.15 | 5,940.4492 | 5,940.597 | 6,118.8126 | 6,118.8119 | 6,118.8119 | 6,118.8119 | 6,118.8119 | 6,118.8119 | 6,118.8119 | 6,118.8119 | 6,118.8119 | 6,118.8119 | 6,118.8119 | 6,118.8119 | 71,791.1963 | 73,425.7433 |
| HR: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,691.5 | 1,683.0425 | 1,683.1273 | 1,683.1692 | 1,733.6636 | 1,733.6634 | 1,733.6634 | 1,733.6634 | 1,733.6634 | 1,733.6634 | 1,733.6634 | 1,733.6634 | 1,733.6634 | 1,733.6634 | 1,733.6634 | 1,733.6634 | 20,340.8389 | 20,803.9606 |
| PRC: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,587 | 2,574.065 | 2,574.1947 | 2,574.2587 | 2,651.4855 | 2,651.4851 | 2,651.4851 | 2,651.4851 | 2,651.4851 | 2,651.4851 | 2,651.4851 | 2,651.4851 | 2,651.4851 | 2,651.4851 | 2,651.4851 | 2,651.4851 | 31,109.5184 | 31,817.8221 |
| ADM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,144.25 | 1,138.5287 | 1,138.5861 | 1,138.6144 | 1,172.7724 | 1,172.7723 | 1,172.7723 | 1,172.7723 | 1,172.7723 | 1,172.7723 | 1,172.7723 | 1,172.7723 | 1,172.7723 | 1,172.7723 | 1,172.7723 | 1,172.7723 | 13,759.9793 | 14,073.2675 |
| L1: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.46% | 8.46% | 8.46% | 8.46% | 8.46% | 8.46% | 8.46% | 8.46% | 8.46% | 8.46% | 8.46% | 8.46% | 8.02% | 8.46% |
| L2: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.72% | 12.72% | 12.72% | 12.72% | 12.72% | 12.72% | 12.72% | 12.72% | 12.72% | 12.72% | 12.72% | 12.72% | 12.38% | 12.72% |
| L3: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 18.33% | 18.33% | 18.33% | 18.33% | 18.33% | 18.33% | 18.33% | 18.33% | 18.33% | 18.33% | 18.33% | 18.33% | 17.83% | 18.33% |
| FLD: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.23% | 9.66% |
| NOC: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.37% | 13.37% | 13.37% | 13.37% | 13.37% | 13.37% | 13.37% | 13.37% | 13.37% | 13.37% | 13.37% | 13.37% | 13.05% | 13.37% |
| SDM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 20.49% | 20.49% | 20.49% | 20.49% | 20.49% | 20.49% | 20.49% | 20.49% | 20.49% | 20.49% | 20.49% | 20.49% | 19.96% | 20.49% |
| PEN: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.78% | 16.78% | 16.78% | 16.78% | 16.78% | 16.78% | 16.78% | 16.78% | 16.78% | 16.78% | 16.78% | 16.78% | 16.24% | 16.78% |
| PM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.75% | 21.75% | 21.75% | 21.75% | 21.75% | 21.75% | 21.75% | 21.75% | 21.75% | 21.75% | 21.75% | 21.75% | 21.25% | 21.75% |
| SD: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 25.35% | 25.35% | 25.35% | 25.35% | 25.35% | 25.35% | 25.35% | 25.35% | 25.35% | 25.35% | 25.35% | 25.35% | 24.92% | 25.35% |
| AM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.07% | 15.53% |
| PSE: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 20.15% | 20.15% | 20.15% | 20.15% | 20.15% | 20.15% | 20.15% | 20.15% | 20.15% | 20.15% | 20.15% | 20.15% | 19.6% | 20.15% |
| MKT: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.8% | 13.8% | 13.8% | 13.8% | 13.8% | 13.8% | 13.8% | 13.8% | 13.8% | 13.8% | 13.8% | 13.8% | 13.36% | 13.8% |
| DIR: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 29.37% | 29.06% | 29.37% |
| FIN: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.53% | 15.07% | 15.53% |
| HR: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 13.06% | 13.06% | 13.06% | 13.06% | 13.06% | 13.06% | 13.06% | 13.06% | 13.06% | 13.06% | 13.06% | 13.06% | 12.73% | 13.06% |
| PRC: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% | 9.23% | 9.66% |
| ADM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.85% | 7.85% | 7.85% | 7.85% | 7.85% | 7.85% | 7.85% | 7.85% | 7.85% | 7.85% | 7.85% | 7.85% | 7.46% | 7.85% |
| Service delivery: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 41 | 41 | 40 | 39 | 38 | 38 | 39 | 39 | 38.545 | 41.0953 | 43.0709 | 43.0181 | 44.9956 | 44.9732 | 45.9504 | 46.9392 | 46.9163 | 47.905 | 47.8938 | 47.8823 | 47.8826 | 47.8827 | 47.8827 | 47.8827 | 43.0181 | 47.8827 | |
| Service delivery: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 66,650 | 66,650 | 65,350 | 63,700 | 62,050 | 61,000 | 62,200 | 62,200 | 61,474.3333 | 65,257.1328 | 68,771.4662 | 68,686.333 | 73,744.2154 | 73,710.2701 | 74,911.6977 | 76,237.077 | 76,207.5976 | 77,891.9788 | 77,872.6716 | 77,853.2457 | 77,853.6976 | 77,853.919 | 77,853.9111 | 77,853.9086 | 773,989.2654 | 919,844.1904 |
| Service delivery: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 2,666 | 3,332.5 | 3,267.5 | 5,733 | 3,723 | 5,490 | 8,708 | 13,684 | 4,917.9467 | 3,262.8566 | 2,750.8586 | 6,181.77 | 2,949.7686 | 3,685.5135 | 3,745.5849 | 6,861.3369 | 4,572.4559 | 7,010.2781 | 10,902.174 | 17,127.7141 | 6,228.2958 | 3,892.6959 | 3,114.1564 | 7,006.8518 | 63,717.4319 | 77,096.826 |
| Service delivery: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 5,554.1667 | 5,554.1667 | 5,445.8333 | 5,308.3333 | 5,170.8333 | 5,083.3333 | 5,183.3333 | 5,183.3333 | 5,122.8611 | 5,438.0944 | 5,730.9555 | 5,723.8611 | 6,145.3513 | 6,142.5225 | 6,242.6415 | 6,353.0898 | 6,350.6331 | 6,490.9982 | 6,489.3893 | 6,487.7705 | 6,487.8081 | 6,487.8266 | 6,487.8259 | 6,487.8257 | 64,499.1054 | 76,653.6825 |
| Service delivery: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 11,108.3333 | 11,108.3333 | 10,891.6667 | 10,616.6667 | 10,341.6667 | 10,166.6667 | 10,366.6667 | 10,366.6667 | 10,245.7222 | 10,876.1888 | 11,461.911 | 11,447.7222 | 12,290.7026 | 12,285.045 | 12,485.2829 | 12,706.1795 | 12,701.2663 | 12,981.9965 | 12,978.7786 | 12,975.541 | 12,975.6163 | 12,975.6532 | 12,975.6519 | 12,975.6514 | 128,998.2109 | 153,307.3651 |
| Service delivery: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 61,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77,891.9788 | 0 | 0 | 0 | 0 | 0 | 0 | 61,000 | 77,891.9788 |
| Service delivery: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64,506.1999 | -7.0944 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 76,653.6827 | -0.0002 | 64,499.1054 | 76,653.6825 |
| Service delivery: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 66,650 | 66,650 | 65,350 | 63,700 | 62,050 | 122,000 | 62,200 | 62,200 | 61,474.3333 | 65,257.1328 | 133,277.6661 | 68,679.2386 | 73,744.2154 | 73,710.2701 | 74,911.6977 | 76,237.077 | 76,207.5976 | 155,783.9576 | 77,872.6716 | 77,853.2457 | 77,853.6976 | 77,853.919 | 154,507.5939 | 77,853.9084 | 899,488.3708 | 1,074,389.8517 | |
| Service delivery: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 15,829.38 | 15,829.38 | 15,520.62 | 15,128.75 | 14,736.88 | 28,975 | 14,772.5 | 14,772.5 | 14,600.1542 | 15,498.569 | 31,653.4457 | 16,311.3192 | 17,514.2512 | 17,506.1891 | 17,791.5282 | 18,106.3058 | 18,099.3044 | 36,998.6899 | 18,494.7595 | 18,490.1459 | 18,490.2532 | 18,490.3058 | 36,695.5535 | 18,490.3033 | 213,628.4981 | 255,167.5898 |
| Service delivery: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 7,331.5 | 7,331.5 | 7,188.5 | 7,007 | 6,825.5 | 13,420 | 6,842 | 6,842 | 6,762.1767 | 7,178.2846 | 14,660.5433 | 7,554.7162 | 8,111.8637 | 8,108.1297 | 8,240.2867 | 8,386.0785 | 8,382.8357 | 17,136.2353 | 8,565.9939 | 8,563.857 | 8,563.9067 | 8,563.9311 | 16,995.8353 | 8,563.9299 | 98,943.7208 | 118,182.8837 |
| Service delivery: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 8,583.08 | 8,583.08 | 8,463.11 | 8,258.79 | 8,054.47 | 15,510.96 | 7,851.7 | 7,851.7 | 7,760.0968 | 8,174.4224 | 16,832.9713 | 8,674.1409 | 9,572.7936 | 9,568.9679 | 9,669.5988 | 9,797.8385 | 9,795.1683 | 20,019.9056 | 10,007.4782 | 10,005.0012 | 10,005.059 | 10,005.0872 | 19,855.9298 | 10,005.0859 | 114,598.5215 | 138,307.914 |
| Service delivery: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 8,249.2 | 8,159 | 7,960 | 7,417.8 | 7,478.4 | 7,227.6 | 6,988.8 | 6,302.4 | 7,416.058 | 8,177.9664 | 8,665.8576 | 8,182.0353 | 9,053.1206 | 8,949.6615 | 9,144.1224 | 8,927.8407 | 9,233.1255 | 9,111.5346 | 8,582.5603 | 7,737.7874 | 9,212.6146 | 9,528.6657 | 9,634.0068 | 9,107.2964 | 92,225.1173 | 108,222.3365 |
| Service delivery: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 2,011.83 | 2,011.83 | 1,966.17 | 1,916.85 | 1,867.53 | 1,856.5 | 1,901.1 | 1,901.1 | 1,878.9205 | 2,000.2498 | 2,100.368 | 2,097.7845 | 2,250.1709 | 2,249.0779 | 2,293.7448 | 2,340.0959 | 2,339.034 | 2,389.1504 | 2,388.5781 | 2,388.0001 | 2,388.0135 | 2,388.0201 | 2,388.0199 | 2,388.0198 | 23,510.2327 | 28,189.9253 |
| Service delivery: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 50,735.42 | 50,735.42 | 49,698.39 | 48,434.21 | 47,170.03 | 93,069.04 | 47,506.3 | 47,506.3 | 46,952.0598 | 49,904.4258 | 101,784.1515 | 52,450.3814 | 56,059.5581 | 56,033.1724 | 57,001.8121 | 58,053.1601 | 58,029.5936 | 118,627.8166 | 59,299.1996 | 59,284.3875 | 59,284.7319 | 59,284.9007 | 117,655.8288 | 59,284.8927 | 685,946.1285 | 817,899.0541 |
| Service delivery: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 6,873.2812 | 13,746.5625 | 20,485.7812 | 27,054.8438 | 33,453.75 | 39,744.375 | 46,158.75 | 52,573.125 | 58,912.6656 | 65,642.3074 | -7,092.0575 | 0 | 7,604.8722 | 15,206.2438 | 22,931.5126 | 30,793.4612 | 38,652.3697 | 46,684.98 | 54,715.5993 | 62,744.2153 | 70,772.8778 | 78,801.5632 | -8,028.6846 | 0 | 0 | 0 |
| Service delivery: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4,965.6206 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4,965.6206 | 0 |
| Service delivery: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 110,061.0737 | 109,146.08 | 106,970.92 | 100,776 | 100,722.3112 | 96,649.6 | 94,329.375 | 87,485.175 | 98,302.1289 | 107,085.0583 | 113,742.8999 | 113,844.6714 | 121,726.0361 | 120,658.4905 | 122,681.7382 | 120,706.2607 | 123,797.373 | 123,314.6206 | 117,938.9869 | 109,359.4808 | 124,323.0505 | 127,529.7555 | 128,598.5268 | 123,254.602 | 1,239,115.2935 | 1,463,888.9217 |
| Projects: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 12.8917 | 12.7842 | 12.786 | 12.7869 | 13.7869 | 13.7786 | 13.7703 | 13.7704 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 12.7869 | 13.7705 | |
| Projects: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 27,200 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,105.4167 | 28,862.8715 | 28,866.9309 | 28,868.9183 | 31,949.434 | 31,930.9632 | 31,912.6634 | 31,912.9698 | 31,913.1197 | 31,913.1159 | 31,913.1147 | 31,913.1147 | 31,913.1148 | 31,913.1148 | 31,913.1148 | 31,913.1148 | 348,354.1374 | 383,010.9544 |
| Projects: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 1,088 | 1,467.5 | 1,467.5 | 2,641.5 | 1,761 | 2,641.5 | 4,109 | 6,457 | 2,328.4333 | 1,443.1436 | 1,154.6772 | 2,598.2026 | 1,277.9774 | 1,596.5482 | 1,595.6332 | 2,872.1673 | 1,914.7872 | 2,872.1804 | 4,467.8361 | 7,020.8852 | 2,553.0492 | 1,595.6557 | 1,276.5246 | 2,872.1803 | 29,157.4568 | 31,915.4247 |
| Projects: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 2,266.6667 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,425.4514 | 2,405.2393 | 2,405.5776 | 2,405.7432 | 2,662.4528 | 2,660.9136 | 2,659.3886 | 2,659.4141 | 2,659.4266 | 2,659.4263 | 2,659.4262 | 2,659.4262 | 2,659.4262 | 2,659.4262 | 2,659.4262 | 2,659.4262 | 29,029.5115 | 31,917.5795 |
| Projects: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 4,533.3333 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,850.9028 | 4,810.4786 | 4,811.1552 | 4,811.4864 | 5,324.9057 | 5,321.8272 | 5,318.7772 | 5,318.8283 | 5,318.8533 | 5,318.8527 | 5,318.8525 | 5,318.8525 | 5,318.8525 | 5,318.8525 | 5,318.8525 | 5,318.8525 | 58,059.0229 | 63,835.1591 |
| Projects: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 29,350 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31,913.1159 | 0 | 0 | 0 | 0 | 0 | 0 | 29,350 | 31,913.1159 |
| Projects: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29,029.3458 | 0.1656 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31,917.5795 | 0 | 29,029.5115 | 31,917.5795 |
| Projects: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 27,200 | 29,350 | 29,350 | 29,350 | 29,350 | 58,700 | 29,350 | 29,350 | 29,105.4167 | 28,862.8715 | 57,896.2768 | 28,869.0839 | 31,949.434 | 31,930.9632 | 31,912.6634 | 31,912.9698 | 31,913.1197 | 63,826.2318 | 31,913.1147 | 31,913.1147 | 31,913.1148 | 31,913.1148 | 63,830.6943 | 31,913.1148 | 406,733.6489 | 446,841.6498 | |
| Projects: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 6,460 | 6,970.62 | 6,970.62 | 6,970.62 | 6,970.62 | 13,941.25 | 6,970.62 | 6,970.62 | 6,912.5365 | 6,854.932 | 13,750.3657 | 6,856.4074 | 7,587.9906 | 7,583.6038 | 7,579.2575 | 7,579.3303 | 7,579.3659 | 15,158.7301 | 7,579.3647 | 7,579.3648 | 7,579.3648 | 7,579.3648 | 15,159.7899 | 7,579.3648 | 96,599.2116 | 106,124.8918 |
| Projects: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 2,992 | 3,228.5 | 3,228.5 | 3,228.5 | 3,228.5 | 6,457 | 3,228.5 | 3,228.5 | 3,201.5958 | 3,174.9159 | 6,368.5904 | 3,175.5992 | 3,514.4377 | 3,512.4059 | 3,510.393 | 3,510.4267 | 3,510.4432 | 7,020.8855 | 3,510.4426 | 3,510.4426 | 3,510.4426 | 3,510.4426 | 7,021.3764 | 3,510.4426 | 44,740.7014 | 49,152.5815 |
| Projects: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 4,702.8 | 5,051.96 | 5,051.96 | 5,051.96 | 5,051.96 | 10,103.92 | 5,051.96 | 5,051.96 | 5,009.8603 | 4,968.1115 | 9,965.5766 | 4,969.1808 | 5,648.8908 | 5,645.7906 | 5,642.7193 | 5,642.7707 | 5,642.7959 | 11,285.5904 | 5,642.795 | 5,642.795 | 5,642.795 | 5,642.795 | 11,286.3795 | 5,642.795 | 70,031.2093 | 79,008.9122 |
| Projects: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 2,414.4 | 2,587 | 2,587 | 2,472.6 | 2,558.4 | 2,472.6 | 2,329.6 | 2,100.8 | 2,480.3567 | 2,544.063 | 2,572.5501 | 2,432.0711 | 2,773.9227 | 2,741.9318 | 2,740.2873 | 2,619.1351 | 2,710.0332 | 2,619.1476 | 2,467.6721 | 2,225.3115 | 2,649.4426 | 2,740.3279 | 2,770.623 | 2,619.1475 | 29,551.4408 | 31,676.9823 |
| Projects: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 669.6 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 718.1402 | 712.1557 | 712.2559 | 712.3049 | 787.6791 | 787.2116 | 786.7484 | 786.7562 | 786.76 | 786.7599 | 786.7598 | 786.7598 | 786.7598 | 786.7598 | 786.7598 | 786.7598 | 8,593.7167 | 9,442.4741 |
| Projects: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 19,505.2 | 21,069.54 | 21,069.54 | 21,069.54 | 21,069.54 | 42,139.08 | 21,069.54 | 21,069.54 | 20,893.9605 | 20,719.8442 | 41,562.1097 | 20,724.3039 | 22,786.1054 | 22,772.7666 | 22,759.5511 | 22,759.7724 | 22,759.8807 | 45,519.7559 | 22,759.8771 | 22,759.8771 | 22,759.8771 | 22,759.8771 | 45,522.9384 | 22,759.8771 | 291,961.7382 | 318,680.1562 |
| Projects: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 2,805 | 5,831.7188 | 8,858.4375 | 11,885.1562 | 14,911.875 | 17,938.5938 | 20,965.3125 | 23,992.0312 | 26,993.5273 | 29,970.011 | -2,976.9023 | 0 | 3,294.7854 | 6,587.666 | 9,878.6594 | 13,169.6844 | 16,460.7248 | 19,751.7649 | 23,042.8049 | 26,333.8448 | 29,624.8848 | 32,915.9248 | -3,291.04 | 0 | 0 | 0 |
| Projects: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,087.0542 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,087.0542 | 0 |
| Projects: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 43,812.6 | 46,895.93 | 46,895.93 | 45,328.705 | 46,504.1237 | 45,328.705 | 43,369.6738 | 40,235.2237 | 45,339.502 | 46,117.5829 | 46,509.4266 | 46,672.7624 | 51,401.8855 | 50,946.6237 | 50,917.3408 | 49,216.9594 | 50,492.8511 | 49,217.1854 | 47,091.0841 | 43,689.3252 | 49,642.4035 | 50,918.0631 | 51,343.283 | 49,217.1836 | 543,010.1652 | 594,094.1884 |
| Sales and marketing: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 6.9125 | 6.8261 | 6.8283 | 6.8293 | 7.8293 | 7.8168 | 7.8044 | 7.8047 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 6.8293 | 7.8049 | |
| Sales and marketing: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 14,000 | 14,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 15,800 | 15,602.5 | 15,607.4688 | 15,609.8754 | 18,138.0767 | 18,112.2969 | 18,086.8703 | 18,087.5104 | 18,087.8202 | 18,087.8084 | 18,087.8046 | 18,087.8048 | 18,087.8049 | 18,087.8049 | 18,087.8049 | 18,087.8049 | 186,619.8441 | 217,127.2119 |
| Sales and marketing: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 560 | 700 | 800 | 1,440 | 960 | 1,440 | 2,240 | 3,520 | 1,264 | 780.125 | 624.2988 | 1,404.8888 | 725.5231 | 905.6148 | 904.3435 | 1,627.8759 | 1,085.2692 | 1,627.9028 | 2,532.2926 | 3,979.3171 | 1,447.0244 | 904.3902 | 723.5122 | 1,627.9024 | 15,733.3125 | 18,090.9683 |
| Sales and marketing: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 1,166.6667 | 1,166.6667 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,316.6667 | 1,300.2083 | 1,300.6224 | 1,300.8229 | 1,511.5064 | 1,509.3581 | 1,507.2392 | 1,507.2925 | 1,507.3184 | 1,507.3174 | 1,507.3171 | 1,507.3171 | 1,507.3171 | 1,507.3171 | 1,507.3171 | 1,507.3171 | 15,551.6537 | 18,093.9343 |
| Sales and marketing: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 2,333.3333 | 2,333.3333 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,633.3333 | 2,600.4167 | 2,601.2448 | 2,601.6459 | 3,023.0128 | 3,018.7161 | 3,014.4784 | 3,014.5851 | 3,014.6367 | 3,014.6347 | 3,014.6341 | 3,014.6341 | 3,014.6341 | 3,014.6341 | 3,014.6341 | 3,014.6341 | 31,103.3074 | 36,187.8687 |
| Sales and marketing: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 16,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18,087.8084 | 0 | 0 | 0 | 0 | 0 | 0 | 16,000 | 18,087.8084 |
| Sales and marketing: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15,551.4531 | 0.2006 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18,093.9343 | 0 | 15,551.6537 | 18,093.9343 |
| Sales and marketing: commissions paid (earned the month before) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: prior month commissions | 1,104.84 | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 461.01 | 942.4896 | 1,022.3616 | 11,134.7904 | 782.7456 | 3,381.2736 | 3,529.3224 | 838.656 | 2,622.144 | 798.72 | 894.5664 | 734.8224 | 479.232 | 942.4896 | 1,022.3616 | 854.6304 | 31,705.5516 | 16,880.964 |
| Sales and marketing: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 15,104.84 | 14,730.98 | 16,762.39 | 20,644.48 | 16,765.81 | 35,870.36 | 16,899.64 | 21,366.4 | 16,261.01 | 16,544.9896 | 32,181.2835 | 26,744.8663 | 18,920.8223 | 21,493.5705 | 21,616.1927 | 18,926.1664 | 20,709.9642 | 36,974.3367 | 18,982.371 | 18,822.6272 | 18,567.0369 | 19,030.2945 | 37,204.1008 | 18,942.4353 | 249,877.0494 | 270,189.9186 | |
| Sales and marketing: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 3,587.4 | 3,498.61 | 3,981.07 | 4,903.06 | 3,981.88 | 8,519.21 | 4,013.66 | 5,074.52 | 3,861.9899 | 3,929.435 | 7,643.0548 | 6,351.9058 | 4,493.6953 | 5,104.723 | 5,133.8458 | 4,494.9645 | 4,918.6165 | 8,781.405 | 4,508.3131 | 4,470.374 | 4,409.6713 | 4,519.6949 | 8,835.9739 | 4,498.8284 | 59,345.7955 | 64,170.1057 |
| Sales and marketing: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 1,661.53 | 1,620.41 | 1,843.86 | 2,270.89 | 1,844.24 | 3,945.74 | 1,858.96 | 2,350.3 | 1,788.7111 | 1,819.9489 | 3,539.9412 | 2,941.9353 | 2,081.2905 | 2,364.2928 | 2,377.7812 | 2,081.8783 | 2,278.0961 | 4,067.177 | 2,088.0608 | 2,070.489 | 2,042.3741 | 2,093.3324 | 4,092.4511 | 2,083.6679 | 27,486.4664 | 29,720.891 |
| Sales and marketing: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 2,717.88 | 2,661.55 | 2,967.62 | 3,552.53 | 2,968.13 | 6,288.65 | 2,988.3 | 3,661.31 | 2,886.551 | 2,923.8819 | 5,709.5776 | 4,460.9066 | 3,380.0292 | 3,767.544 | 3,785.9008 | 3,380.5975 | 3,649.3637 | 6,628.9101 | 3,389.0672 | 3,364.9986 | 3,326.4888 | 3,396.2878 | 6,663.7079 | 3,383.0501 | 43,786.8872 | 48,115.9456 |
| Sales and marketing: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 1,207.2 | 1,194 | 1,393 | 1,331.4 | 1,377.6 | 1,331.4 | 1,254.4 | 1,131.2 | 1,329.965 | 1,358.3927 | 1,373.8474 | 1,298.9368 | 1,575.2512 | 1,555.5367 | 1,553.0805 | 1,484.4606 | 1,536.0015 | 1,484.4881 | 1,398.6341 | 1,261.2683 | 1,501.6585 | 1,553.1707 | 1,570.3415 | 1,484.4878 | 15,581.3418 | 17,958.3795 |
| Sales and marketing: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 339 | 339 | 392 | 392 | 392 | 392 | 392 | 392 | 387.1 | 382.2613 | 382.383 | 382.4419 | 447.2502 | 446.5691 | 445.8973 | 445.9142 | 445.9224 | 445.922 | 445.9219 | 445.922 | 445.922 | 445.922 | 445.922 | 445.922 | 4,564.1862 | 5,353.0068 |
| Sales and marketing: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 10,725.43 | 10,449.03 | 11,950.91 | 14,821.05 | 11,953.44 | 25,635.97 | 12,052.38 | 15,354.79 | 11,585.7479 | 11,801.1588 | 22,931.7647 | 19,342.0244 | 13,459.5026 | 15,361.7338 | 15,452.5108 | 13,463.6906 | 14,782.5044 | 26,278.2496 | 13,505.243 | 13,387.1396 | 13,198.174 | 13,540.6743 | 26,447.9419 | 13,475.7173 | 178,603.6958 | 192,353.0819 |
| Sales and marketing: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 1,443.75 | 2,887.5 | 4,537.5 | 6,187.5 | 7,837.5 | 9,487.5 | 11,137.5 | 12,787.5 | 14,416.875 | 16,025.8828 | -1,609.5202 | 0 | 1,870.4892 | 3,738.3198 | 5,603.5283 | 7,468.8028 | 9,334.1093 | 11,199.4145 | 13,064.7193 | 14,930.0242 | 16,795.3291 | 18,660.634 | -1,865.3049 | 0 | 0 | 0 |
| Sales and marketing: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,128.5028 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,128.5028 | 0 |
| Sales and marketing: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 22,509.45 | 22,323 | 25,545 | 24,691.4 | 25,331.6 | 24,691.4 | 23,624.4 | 21,917.2 | 24,593.49 | 24,910.3664 | 25,126.4639 | 25,217.8576 | 29,182.004 | 28,898.8667 | 28,857.9802 | 27,894.996 | 28,618.5001 | 27,895.4591 | 26,690.4167 | 24,762.3585 | 28,136.461 | 28,859.4829 | 29,100.4902 | 27,895.4537 | 290,481.628 | 336,792.469 |
| General and administrative: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 8.955 | 8.9102 | 8.9107 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | |
| General and administrative: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,342.75 | 21,236.0363 | 21,237.1061 | 21,237.6343 | 21,874.7551 | 21,874.7524 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 256,653.5266 | 262,497.0322 |
| General and administrative: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 858 | 1,072.5 | 1,072.5 | 1,930.5 | 1,287 | 1,930.5 | 3,003 | 4,719 | 1,707.42 | 1,061.8018 | 849.4842 | 1,911.3871 | 874.9902 | 1,093.7376 | 1,093.7376 | 1,968.7277 | 1,312.4851 | 1,968.7277 | 3,062.4653 | 4,812.4455 | 1,749.9802 | 1,093.7376 | 874.9901 | 1,968.7277 | 21,403.0931 | 21,874.7526 |
| General and administrative: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,778.5625 | 1,769.6697 | 1,769.7588 | 1,769.8029 | 1,822.8963 | 1,822.896 | 1,822.896 | 1,822.896 | 1,822.896 | 1,822.896 | 1,822.896 | 1,822.896 | 1,822.896 | 1,822.896 | 1,822.896 | 1,822.896 | 21,387.7939 | 21,874.7527 |
| General and administrative: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,557.125 | 3,539.3394 | 3,539.5177 | 3,539.6057 | 3,645.7925 | 3,645.7921 | 3,645.7921 | 3,645.7921 | 3,645.7921 | 3,645.7921 | 3,645.7921 | 3,645.7921 | 3,645.7921 | 3,645.7921 | 3,645.7921 | 3,645.7921 | 42,775.5878 | 43,749.5054 |
| General and administrative: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 21,450 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,874.7525 | 0 | 0 | 0 | 0 | 0 | 0 | 21,450 | 21,874.7525 |
| General and administrative: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,387.7499 | 0.044 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,874.7527 | 0 | 21,387.7939 | 21,874.7527 |
| General and administrative: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 42,900 | 21,450 | 21,450 | 21,342.75 | 21,236.0363 | 42,624.8559 | 21,237.6783 | 21,874.7551 | 21,874.7524 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 43,749.505 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 21,874.7525 | 43,749.5052 | 21,874.7525 | 299,491.3205 | 306,246.5374 | |
| General and administrative: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 10,188.75 | 5,094.38 | 5,094.38 | 5,068.9031 | 5,043.5586 | 10,123.4033 | 5,043.9486 | 5,195.2543 | 5,195.2537 | 5,195.2537 | 5,195.2537 | 5,195.2537 | 10,390.5074 | 5,195.2537 | 5,195.2537 | 5,195.2537 | 5,195.2537 | 10,390.5075 | 5,195.2537 | 71,129.2236 | 72,733.5526 |
| General and administrative: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 4,719 | 2,359.5 | 2,359.5 | 2,347.7025 | 2,335.964 | 4,688.7342 | 2,336.1446 | 2,406.2231 | 2,406.2228 | 2,406.2228 | 2,406.2228 | 2,406.2228 | 4,812.4455 | 2,406.2228 | 2,406.2228 | 2,406.2228 | 2,406.2228 | 4,812.4456 | 2,406.2228 | 32,944.0453 | 33,687.1191 |
| General and administrative: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 8,703.86 | 4,351.93 | 4,351.93 | 4,330.1704 | 4,308.5195 | 8,648.0368 | 4,308.8527 | 4,519.9639 | 4,519.9634 | 4,519.9634 | 4,519.9634 | 4,519.9634 | 9,039.9267 | 4,519.9634 | 4,519.9634 | 4,519.9634 | 4,519.9634 | 9,039.9268 | 4,519.9634 | 60,762.9493 | 63,279.4877 |
| General and administrative: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 1,810.8 | 1,791 | 1,791 | 1,711.8 | 1,771.2 | 1,711.8 | 1,612.8 | 1,454.4 | 1,722.942 | 1,773.1348 | 1,792.8276 | 1,694.8523 | 1,792.8715 | 1,773.2673 | 1,773.2673 | 1,694.8515 | 1,753.6634 | 1,694.8515 | 1,596.8317 | 1,440 | 1,714.4554 | 1,773.2673 | 1,792.8713 | 1,694.8515 | 20,638.5567 | 20,495.0497 |
| General and administrative: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 510.6589 | 508.1056 | 508.1312 | 508.1438 | 521.9622 | 521.9621 | 521.9621 | 521.9621 | 521.9621 | 521.9621 | 521.9621 | 521.9621 | 521.9621 | 521.9621 | 521.9621 | 521.9621 | 6,140.8794 | 6,263.5456 |
| General and administrative: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 29,477.14 | 14,738.57 | 14,738.57 | 14,664.8772 | 14,591.5528 | 29,288.085 | 14,592.681 | 14,948.5681 | 14,948.5663 | 14,948.5663 | 14,948.5663 | 14,948.5663 | 29,897.1327 | 14,948.5663 | 14,948.5663 | 14,948.5663 | 14,948.5663 | 29,897.1328 | 14,948.5663 | 205,784.3259 | 209,279.9306 |
| General and administrative: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 2,212.0312 | 4,424.0625 | 6,636.0938 | 8,848.125 | 11,060.1562 | 13,272.1875 | 15,484.2188 | 17,696.25 | 19,897.2211 | 22,087.1873 | -2,190.0766 | 0 | 2,255.8341 | 4,511.668 | 6,767.5018 | 9,023.3357 | 11,279.1695 | 13,535.0034 | 15,790.8372 | 18,046.6711 | 20,302.5049 | 22,558.3388 | -2,255.8338 | 0 | 0 | 0 |
| General and administrative: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,535.3569 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,535.3569 | 0 |
| General and administrative: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 34,442.7237 | 34,157.48 | 34,157.48 | 33,016.505 | 33,872.2363 | 33,016.505 | 31,590.2863 | 29,308.3363 | 33,135.235 | 33,816.7542 | 34,100.8705 | 34,224.9771 | 35,069.5451 | 34,779.2368 | 34,779.2369 | 33,618.0208 | 34,488.9329 | 33,618.0208 | 32,166.5007 | 29,844.0685 | 33,908.3248 | 34,779.2369 | 35,069.5409 | 33,618.0208 | 398,839.3892 | 405,738.6857 |
| Base salaries paid, all departments | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | 129,300 | 131,450 | 132,150 | 130,500 | 128,850 | 127,800 | 129,000 | 129,000 | 127,722.5 | 130,958.5406 | 134,482.972 | 134,402.761 | 145,706.4812 | 145,628.2825 | 146,785.9838 | 148,112.3097 | 148,083.2901 | 149,767.6556 | 149,748.3434 | 149,728.9178 | 149,729.3697 | 149,729.5911 | 149,729.5832 | 149,729.5808 | 1,565,616.7735 | 1,782,479.3889 | |
| Accrued in the month | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | base x 2 / 12 x (1 + TSU) | 26,668.125 | 27,111.5625 | 27,255.9375 | 26,915.625 | 26,575.3125 | 26,358.75 | 26,606.25 | 26,606.25 | 26,342.7656 | 27,010.199 | 27,737.113 | 27,720.5695 | 30,051.9617 | 30,035.8333 | 30,274.6092 | 30,548.1639 | 30,542.1786 | 30,889.579 | 30,885.5958 | 30,881.5893 | 30,881.6825 | 30,881.7282 | 30,881.7265 | 30,881.726 | 322,908.4595 | 367,636.374 |
| Released: holidays taken and the holiday allowance paid | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | -6,400.35 | -8,133.4688 | -8,176.7812 | -14,534.4375 | -9,567.1125 | -172,386.225 | -22,349.25 | -35,120.25 | -12,644.5275 | -8,103.0597 | -6,656.9071 | -14,969.1075 | -7,212.4708 | -9,010.75 | -9,082.3827 | -16,496.0085 | -10,995.1843 | -202,017.8464 | -25,943.9005 | -40,763.6979 | -14,823.2076 | -9,264.5184 | -7,411.6144 | -16,676.1321 | -319,041.4768 | -369,697.7136 | |
| Revaluation in December 2026 for the January 2027 pay review | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | balance x pay review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9,716.5345 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9,716.5345 | 0 |
| HOLIDAY PAY AND ALLOWANCE ACCRUED (liability) | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | opening + accrued - released + revaluation | 340,285.275 | 359,263.3688 | 378,342.525 | 390,723.7125 | 407,731.9125 | 261,704.4375 | 265,961.4375 | 257,447.4375 | 271,145.6756 | 290,052.8149 | 311,133.0208 | 333,601.0172 | 356,440.5081 | 377,465.5914 | 398,657.8178 | 412,709.9732 | 432,256.9675 | 261,128.7001 | 266,070.3954 | 256,188.2868 | 272,246.7617 | 293,863.9715 | 317,334.0836 | 331,539.6776 | 333,601.0172 | 331,539.6776 |
| CHRISTMAS ALLOWANCE ACCRUED (liability, nil after the December payroll) | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | 13,334.0625 | 26,889.8438 | 40,517.8125 | 53,975.625 | 67,263.2812 | 80,442.6562 | 93,745.7812 | 107,048.9062 | 120,220.2891 | 133,725.3886 | -13,868.5565 | 0 | 15,025.9809 | 30,043.8975 | 45,181.2021 | 60,455.284 | 75,726.3733 | 91,171.1628 | 106,613.9607 | 122,054.7554 | 137,495.5966 | 152,936.4607 | -15,440.8633 | 0 | 0 | 0 | |
| Check: Christmas accrual is nil in December (must be zero) | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Commissions earned | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | A: statements; F: rate x first-year fees of new contracts + rate x hardware margin | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 461.01 | 942.4896 | 1,022.3616 | 11,134.7904 | 782.7456 | 3,381.2736 | 3,529.3224 | 838.656 | 2,622.144 | 798.72 | 894.5664 | 734.8224 | 479.232 | 942.4896 | 1,022.3616 | 854.6304 | 782.7456 | 31,383.4572 | 16,880.964 |
| of which on new managed service contracts | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | rate x first-year fees | 0 | 0 | 3,784.32 | 0 | 3,049.92 | 0 | 4,613.76 | 0 | 0 | 0 | 10,280.16 | 0 | 2,678.4 | 2,794.5 | 0 | 1,863.36 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,728.16 | 7,336.26 |
| of which on hardware margin | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 730.98 | 762.39 | 860.16 | 765.81 | 820.44 | 899.64 | 752.64 | 461.01 | 942.4896 | 1,022.3616 | 854.6304 | 782.7456 | 702.8736 | 734.8224 | 838.656 | 758.784 | 798.72 | 894.5664 | 734.8224 | 479.232 | 942.4896 | 1,022.3616 | 854.6304 | 782.7456 | 9,655.2972 | 9,544.704 | |
| Contract costs capitalised (commission on new contracts and its TSU) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 0 | 0 | 4,683.096 | 0 | 3,774.276 | 0 | 5,709.528 | 0 | 0 | 0 | 12,721.698 | 0 | 3,314.52 | 3,458.1937 | 0 | 2,305.908 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,888.598 | 9,078.6218 | |
| Amortisation of contract costs (36 months from the contract start) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 0 | 0 | 130.086 | 130.086 | 234.927 | 234.927 | 393.525 | 393.525 | 393.525 | 393.525 | 746.9055 | 746.9055 | 838.9755 | 935.0364 | 935.0364 | 999.0894 | 999.0894 | 999.0894 | 999.0894 | 999.0894 | 999.0894 | 999.0894 | 999.0894 | 999.0894 | 3,797.937 | 11,700.8533 | |
| CONTRACT COSTS: CAPITALISED COMMISSIONS (asset) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | opening + capitalised - amortised | 0 | 0 | 4,553.01 | 4,422.924 | 7,962.273 | 7,727.346 | 13,043.349 | 12,649.824 | 12,256.299 | 11,862.774 | 23,837.5665 | 23,090.661 | 25,566.2055 | 28,089.3628 | 27,154.3264 | 28,461.1449 | 27,462.0555 | 26,462.9661 | 25,463.8766 | 24,464.7872 | 23,465.6977 | 22,466.6083 | 21,467.5189 | 20,468.4294 | 23,090.661 | 20,468.4294 |
| COMMISSION COST IN SALES AND MARKETING (hardware commission incl. TSU + amortisation of contract costs) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 904.5878 | 943.4576 | 1,194.534 | 1,077.7759 | 1,250.2215 | 1,348.2315 | 1,324.917 | 964.0249 | 1,559.8559 | 1,658.6975 | 1,804.5106 | 1,715.5532 | 1,708.7816 | 1,844.3792 | 1,972.8732 | 1,938.0846 | 1,987.5054 | 2,106.1154 | 1,908.4322 | 1,592.139 | 2,165.4203 | 2,264.2619 | 2,056.6946 | 1,967.7371 | 15,746.3673 | 23,512.4245 | |
| Commissions payable, incl. TSU (paid with the next payroll) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 904.5878 | 943.4576 | 5,747.544 | 947.6899 | 4,789.5705 | 1,113.3045 | 6,640.92 | 570.4999 | 1,166.3309 | 1,265.1725 | 13,779.3031 | 968.6477 | 4,184.3261 | 4,367.5365 | 1,037.8368 | 3,244.9032 | 988.416 | 1,107.0259 | 909.3427 | 593.0496 | 1,166.3309 | 1,265.1725 | 1,057.6051 | 968.6477 | 968.6477 | 968.6477 | |
| Social security due for the month (employer and employee) | PAYROLL LIABILITIES AND PAYMENTS | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,543.7697 | 45,835.608 | 92,428.0786 | 50,571.9763 | 50,905.0063 | 51,780.8208 | 52,234.5689 | 51,760.4606 | 52,370.1383 | 104,366.0758 | 52,348.4112 | 52,286.1497 | 52,197.4891 | 52,358.548 | 104,003.9332 | 52,328.0133 | 644,817.6626 | 728,939.6153 | |
| Social security paid (20th of the following month) | PAYROLL LIABILITIES AND PAYMENTS | A: bank; F: prior month | 44,038.67 | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,543.7697 | 45,835.608 | 92,428.0786 | 50,571.9763 | 50,905.0063 | 51,780.8208 | 52,234.5689 | 51,760.4606 | 52,370.1383 | 104,366.0758 | 52,348.4112 | 52,286.1497 | 52,197.4891 | 52,358.548 | 104,003.9332 | 638,284.3563 | 727,183.5783 |
| SOCIAL SECURITY PAYABLE | PAYROLL LIABILITIES AND PAYMENTS | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,543.7697 | 45,835.608 | 92,428.0786 | 50,571.9763 | 50,905.0063 | 51,780.8208 | 52,234.5689 | 51,760.4606 | 52,370.1383 | 104,366.0758 | 52,348.4112 | 52,286.1497 | 52,197.4891 | 52,358.548 | 104,003.9332 | 52,328.0133 | 50,571.9763 | 52,328.0133 | |
| IRS withheld in the month | PAYROLL LIABILITIES AND PAYMENTS | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 19,986.6785 | 20,374.9353 | 41,156.1624 | 22,413.0811 | 23,121.6775 | 23,502.2658 | 23,618.1822 | 23,341.17 | 23,607.2913 | 46,974.3329 | 23,559.3037 | 23,532.7582 | 23,494.3062 | 23,564.1334 | 46,845.9439 | 23,550.8943 | 289,179.5672 | 328,712.2595 | |
| IRS withheld paid (20th of the following month) | PAYROLL LIABILITIES AND PAYMENTS | A: bank; F: prior month | 19,781.39 | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 19,986.6785 | 20,374.9353 | 41,156.1624 | 22,413.0811 | 23,121.6775 | 23,502.2658 | 23,618.1822 | 23,341.17 | 23,607.2913 | 46,974.3329 | 23,559.3037 | 23,532.7582 | 23,494.3062 | 23,564.1334 | 46,845.9439 | 286,547.8762 | 327,574.4462 |
| IRS WITHHELD PAYABLE | PAYROLL LIABILITIES AND PAYMENTS | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 19,986.6785 | 20,374.9353 | 41,156.1624 | 22,413.0811 | 23,121.6775 | 23,502.2658 | 23,618.1822 | 23,341.17 | 23,607.2913 | 46,974.3329 | 23,559.3037 | 23,532.7582 | 23,494.3062 | 23,564.1334 | 46,845.9439 | 23,550.8943 | 22,413.0811 | 23,550.8943 | |
| Net pay (salaries, allowances and commissions) | PAYROLL LIABILITIES AND PAYMENTS | 95,704.62 | 96,992.56 | 97,457.41 | 99,063.37 | 94,931.58 | 190,321.23 | 95,366.79 | 98,669.2 | 94,096.6454 | 97,016.9816 | 195,566.1108 | 107,109.3907 | 107,253.7343 | 109,116.2391 | 110,162.4403 | 109,225.1895 | 110,520.5451 | 220,322.9548 | 110,512.886 | 110,379.9706 | 110,191.3494 | 110,534.0184 | 219,523.8419 | 110,469.0534 | 1,362,295.8885 | 1,538,212.2228 | |
| Meal allowance (card top-up with the payroll) | PAYROLL LIABILITIES AND PAYMENTS | 13,681.6 | 13,731 | 13,731 | 12,933.6 | 13,185.6 | 12,743.4 | 12,185.6 | 10,988.8 | 12,949.3217 | 13,853.5568 | 14,405.0827 | 13,607.8955 | 15,195.166 | 15,020.3974 | 15,210.7575 | 14,726.2879 | 15,232.8236 | 14,910.0219 | 14,045.6982 | 12,664.3671 | 15,078.1712 | 15,595.4316 | 15,767.8425 | 14,905.7832 | 157,996.4567 | 178,352.748 | |
| Work accident and health insurance (direct debit) | PAYROLL LIABILITIES AND PAYMENTS | 3,533.66 | 3,588.24 | 3,595.58 | 3,546.26 | 3,496.94 | 3,485.91 | 3,530.51 | 3,530.51 | 3,494.8196 | 3,602.7723 | 3,703.138 | 3,700.6751 | 4,007.0624 | 4,004.8208 | 4,048.3526 | 4,094.7284 | 4,093.6785 | 4,143.7944 | 4,143.222 | 4,142.644 | 4,142.6574 | 4,142.664 | 4,142.6638 | 4,142.6637 | 42,809.0151 | 49,248.9519 | |
| Payroll cost, all departments (excl. commissions) | TOTALS | 210,825.8475 | 212,522.49 | 213,569.33 | 203,812.61 | 206,430.2712 | 199,686.21 | 192,913.735 | 178,945.935 | 201,370.3559 | 211,929.7618 | 219,479.661 | 219,960.2685 | 237,379.4706 | 235,283.2177 | 237,236.2961 | 231,436.2368 | 237,397.6571 | 234,045.2859 | 223,886.9884 | 207,655.233 | 236,010.2398 | 242,086.5384 | 244,111.841 | 233,985.2601 | 2,471,446.4759 | 2,800,514.2649 | |
| Remuneration paid | TOTALS | 130,404.84 | 132,180.98 | 132,912.39 | 135,144.48 | 129,615.81 | 259,470.36 | 129,899.64 | 134,366.4 | 128,183.51 | 131,901.0302 | 265,980.0823 | 145,530.8672 | 146,489.2268 | 149,009.5561 | 150,315.3062 | 148,950.9657 | 150,705.4341 | 300,334.0311 | 150,642.9098 | 150,463.7402 | 150,208.6017 | 150,672.0807 | 299,291.8941 | 150,584.2109 | 1,855,590.3896 | 2,097,667.9576 | |
| Recruitment cost of hires | TOTALS | hires x cost per hire | 0 | 2,200 | 2,200 | 0 | 0 | 2,200 | 2,200 | 0 | 0 | 6,600 | 5,930.8333 | 1,514.2676 | 10,374.8873 | 1,625.6909 | 3,824.3832 | 3,920.9725 | 1,719.8991 | 3,944.4894 | 1,769.8813 | 1,769.2979 | 1,794.6752 | 1,794.3859 | 1,794.0932 | 1,794.1 | 22,845.101 | 36,126.756 |
| Payroll cost per head a month | TOTALS | 3,100.3801 | 3,080.0361 | 3,095.2077 | 2,997.2443 | 3,081.0488 | 2,980.3912 | 2,836.9667 | 2,631.5579 | 2,991.9449 | 3,044.274 | 3,065.5366 | 3,074.4242 | 3,143.1542 | 3,117.1852 | 3,103.726 | 2,989.156 | 3,067.0518 | 2,985.6035 | 2,856.4296 | 2,649.7246 | 3,011.5303 | 3,089.0598 | 3,114.9032 | 2,985.6865 | 2,998.251 | 3,009.4342 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (fees, SLA credits, onboarding, bundled licences) | MANAGED SERVICES | Revenue | 288,374.83 | 289,887.79 | 294,708.93 | 294,421.49 | 289,342.7 | 291,699.94 | 293,395.62 | 297,373.49 | 298,832.2706 | 306,059.8809 | 317,110.5565 | 325,722.922 | 332,958.0099 | 338,105.1818 | 338,550.0176 | 342,524.3198 | 343,265.9364 | 344,080.259 | 345,149.2772 | 343,608.2004 | 345,818.7055 | 347,036.1295 | 348,083.5037 | 348,972.2947 | 3,586,930.42 | 4,118,151.8355 |
| Service delivery payroll | MANAGED SERVICES | People | -110,061.0737 | -109,146.08 | -106,970.92 | -100,776 | -100,722.3112 | -96,649.6 | -94,329.375 | -87,485.175 | -98,302.1289 | -107,085.0583 | -113,742.8999 | -113,844.6714 | -121,726.0361 | -120,658.4905 | -122,681.7382 | -120,706.2607 | -123,797.373 | -123,314.6206 | -117,938.9869 | -109,359.4808 | -124,323.0505 | -127,529.7555 | -128,598.5268 | -123,254.602 | -1,239,115.2935 | -1,463,888.9217 |
| Service tooling | MANAGED SERVICES | Overheads | -19,340.7452 | -19,237.6251 | -19,903.7892 | -20,060.8229 | -19,856.1107 | -19,742.2967 | -20,113.8041 | -20,113.033 | -20,483.1279 | -20,412.6609 | -21,502.7645 | -21,488.8472 | -21,742.3686 | -22,031.3846 | -21,899.6162 | -22,065.9334 | -22,084.2682 | -22,121.9403 | -22,142.4359 | -22,061.6372 | -22,099.3074 | -22,125.0353 | -22,133.7313 | -22,171.5942 | -242,255.6273 | -264,679.2527 |
| Colocation and backup storage | MANAGED SERVICES | Overheads | -8,856.6 | -8,856.6 | -8,883.6 | -8,885.4 | -8,870.1 | -8,871 | -8,900.7 | -8,902.5 | -8,903.7474 | -8,898.51 | -8,966.7861 | -8,964.2423 | -9,205.5881 | -9,227.8127 | -9,220.3289 | -9,231.6119 | -9,231.9291 | -9,233.3686 | -9,233.5042 | -9,227.229 | -9,228.6633 | -9,229.5382 | -9,228.0888 | -9,229.524 | -106,759.7858 | -110,727.1868 |
| Field vans | MANAGED SERVICES | Overheads | -5,636.01 | -5,397.13 | -4,560.78 | -4,836.18 | -4,674.39 | -5,555.41 | -5,465.7 | -5,641.87 | -5,474.7 | -5,420.0452 | -5,421.328 | -5,421.9506 | -5,557.4766 | -5,557.4694 | -5,557.4698 | -6,367.2199 | -6,357.7728 | -6,348.4359 | -6,348.6551 | -6,348.7614 | -6,348.7576 | -6,348.7564 | -6,348.7565 | -6,348.7565 | -63,505.4938 | -73,838.2881 |
| Bundled licence cost net of its vendor incentive | MANAGED SERVICES | Licences, Rebates | -53,873.4018 | -54,051.3896 | -55,363.5192 | -55,460.7996 | -54,495.1603 | -54,493.0496 | -56,042.6503 | -56,338.0397 | -56,483.6906 | -56,251.0811 | -60,033.1135 | -60,008.9201 | -62,701.1907 | -63,680.8531 | -63,195.854 | -63,781.4201 | -63,859.3893 | -64,008.1854 | -64,098.513 | -63,825.532 | -63,974.3944 | -64,077.5794 | -64,137.7224 | -64,287.4386 | -672,894.8155 | -765,628.0727 |
| GROSS MARGIN: MANAGED SERVICES | MANAGED SERVICES | 90,606.9993 | 93,198.9653 | 99,026.3216 | 104,402.2875 | 100,724.6277 | 106,388.5837 | 108,543.3906 | 118,892.8722 | 109,184.8759 | 107,992.5255 | 107,443.6645 | 115,994.2903 | 112,025.3496 | 116,949.1714 | 115,995.0104 | 120,371.8738 | 117,935.204 | 119,053.7082 | 125,387.1821 | 132,785.5599 | 119,844.5322 | 117,725.4646 | 117,636.6779 | 123,680.3794 | 1,262,399.4041 | 1,439,390.1135 | |
| Gross margin % | MANAGED SERVICES | 31.42% | 32.15% | 33.6% | 35.46% | 34.81% | 36.47% | 37% | 39.98% | 36.54% | 35.28% | 33.88% | 35.61% | 33.65% | 34.59% | 34.26% | 35.14% | 34.36% | 34.6% | 36.33% | 38.64% | 34.66% | 33.92% | 33.8% | 35.44% | 35.19% | 34.95% | |
| Revenue | HARDWARE | Revenue | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 245,440 | 266,240 | 222,560 | 203,840 | 183,040 | 191,360 | 218,400 | 197,600 | 208,000 | 232,960 | 191,360 | 124,800 | 245,440 | 266,240 | 222,560 | 203,840 | 2,513,080 | 2,485,600 |
| Cost before rebates | HARDWARE | Hardware | -161,634 | -171,587 | -195,328 | -175,473 | -184,652 | -208,012 | -170,912 | -105,633 | -214,023.68 | -232,161.28 | -194,072.32 | -177,748.48 | -159,610.88 | -166,865.92 | -190,444.8 | -172,307.2 | -181,376 | -203,141.12 | -166,865.92 | -108,825.6 | -214,023.68 | -232,161.28 | -194,072.32 | -177,748.48 | -2,191,236.76 | -2,167,443.2 |
| Distributor rebate | HARDWARE | Rebates | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 3,917.3814 | 3,556.9589 | 2,696.8856 | 2,511.8236 | 2,271.2956 | 2,673.2482 | 2,895.2875 | 2,500.6485 | 2,743.1657 | 3,240.4285 | 2,211.383 | 1,239.2076 | 3,971.3153 | 3,556.9589 | 2,696.8856 | 2,511.8236 | 32,625.1695 | 32,511.648 |
| GROSS MARGIN: HARDWARE | HARDWARE | 26,451.58 | 28,022.27 | 31,835.67 | 28,080.48 | 30,010.02 | 33,315.43 | 27,414.49 | 16,581.18 | 35,333.7014 | 37,635.6789 | 31,184.5656 | 28,603.3436 | 25,700.4156 | 27,167.3282 | 30,850.4875 | 27,793.4485 | 29,367.1657 | 33,059.3085 | 26,705.463 | 17,213.6076 | 35,387.6353 | 37,635.6789 | 31,184.5656 | 28,603.3436 | 354,468.4095 | 350,668.448 | |
| Gross margin % | HARDWARE | 14.22% | 14.22% | 14.21% | 13.97% | 14.16% | 14% | 13.99% | 13.7% | 14.4% | 14.14% | 14.01% | 14.03% | 14.04% | 14.2% | 14.13% | 14.07% | 14.12% | 14.19% | 13.96% | 13.79% | 14.42% | 14.14% | 14.01% | 14.03% | 14.1% | 14.11% | |
| Revenue | LICENCE RESALE (annual licences as principal, other licences as agent) | Revenue | 40,560.95 | 41,360.3667 | 43,158.9667 | 41,960.0167 | 42,151.5667 | 42,684.55 | 41,885.25 | 39,512.2333 | 42,854.947 | 43,470.7224 | 44,157.3228 | 45,048.9066 | 41,819.3208 | 42,347.9377 | 44,028.4387 | 42,865.7297 | 43,140.2048 | 43,682.8218 | 42,913.2379 | 40,671.4699 | 44,223.2137 | 44,840.989 | 45,529.1894 | 46,424.1066 | 508,805.7988 | 522,486.66 |
| Annual licence cost recognised, net of its vendor incentive | LICENCE RESALE (annual licences as principal, other licences as agent) | Licences, Rebates | -20,003.1982 | -25,325.987 | -25,262.9074 | -25,417.9471 | -25,576.7864 | -25,483.5604 | -25,651.5197 | -25,795.4136 | -25,475.4027 | -25,679.3867 | -25,780.9227 | -25,536 | -20,971.7947 | -26,468.2261 | -26,372.2229 | -26,511.9312 | -26,661.9248 | -26,523.1691 | -26,687.7141 | -26,827.2299 | -26,494.4188 | -26,706.5621 | -26,812.1596 | -26,557.44 | -300,989.0318 | -313,594.7933 |
| GROSS MARGIN: LICENCE RESALE | LICENCE RESALE (annual licences as principal, other licences as agent) | 20,557.7518 | 16,034.3796 | 17,896.0592 | 16,542.0696 | 16,574.7803 | 17,200.9896 | 16,233.7303 | 13,716.8197 | 17,379.5444 | 17,791.3357 | 18,376.4001 | 19,512.9066 | 20,847.5261 | 15,879.7116 | 17,656.2158 | 16,353.7985 | 16,478.28 | 17,159.6527 | 16,225.5238 | 13,844.24 | 17,728.7949 | 18,134.4269 | 18,717.0299 | 19,866.6666 | 207,816.7669 | 208,891.8667 | |
| Gross margin % | LICENCE RESALE (annual licences as principal, other licences as agent) | 50.68% | 38.77% | 41.47% | 39.42% | 39.32% | 40.3% | 38.76% | 34.72% | 40.55% | 40.93% | 41.62% | 43.31% | 49.85% | 37.5% | 40.1% | 38.15% | 38.2% | 39.28% | 37.81% | 34.04% | 40.09% | 40.44% | 41.11% | 42.79% | 40.84% | 39.98% | |
| Revenue | PROJECTS | Revenue | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 104,400 | 99,000 | 94,500 | 85,500 | 89,100 | 95,400 | 91,800 | 87,300 | 99,000 | 83,700 | 54,000 | 94,500 | 104,400 | 99,000 | 94,500 | 923,294.9619 | 1,078,200 |
| Project team payroll | PROJECTS | People | -43,812.6 | -46,895.93 | -46,895.93 | -45,328.705 | -46,504.1237 | -45,328.705 | -43,369.6738 | -40,235.2237 | -45,339.502 | -46,117.5829 | -46,509.4266 | -46,672.7624 | -51,401.8855 | -50,946.6237 | -50,917.3408 | -49,216.9594 | -50,492.8511 | -49,217.1854 | -47,091.0841 | -43,689.3252 | -49,642.4035 | -50,918.0631 | -51,343.283 | -49,217.1836 | -543,010.1652 | -594,094.1884 |
| Subcontractors | PROJECTS | Projects | -3,140 | -4,780 | -8,060 | -13,800 | -16,260 | -17,900 | -17,080 | -11,340 | -11,613.3333 | -18,325.0793 | -17,673.9028 | -9,023.0176 | -9,725.4412 | -12,281.9118 | -13,041.6176 | -12,607.5 | -12,064.8529 | -13,475.7353 | -11,630.7353 | -8,049.2647 | -12,933.0882 | -14,126.9118 | -13,475.7353 | -12,933.0882 | -148,995.3331 | -146,345.8824 |
| Onerous provision movement | PROJECTS | Projects | 0 | 0 | 0 | 0 | 0 | -10,147.14 | 4,731.43 | 2,908.57 | 835.7114 | 835.7143 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| GROSS MARGIN: PROJECTS | PROJECTS | 3,599.48 | 16,965.5 | 36,714.23 | 36,922.595 | 25,884.9863 | -43,522.235 | 15,405.4662 | -9,894.8838 | 33,964.668 | 40,793.0521 | 35,652.3848 | 38,804.2199 | 24,372.6733 | 25,871.4646 | 31,441.0416 | 29,975.5406 | 24,742.2959 | 36,307.0793 | 24,978.1806 | 2,261.4101 | 31,924.5083 | 39,355.0251 | 34,180.9817 | 32,349.7282 | 231,289.4636 | 337,759.9292 | |
| Gross margin % | PROJECTS | 7.12% | 24.72% | 40.05% | 38.44% | 29.2% | -145.79% | 21.66% | -25.52% | 37.7% | 39.07% | 36.01% | 41.06% | 28.51% | 29.04% | 32.96% | 32.65% | 28.34% | 36.67% | 29.84% | 4.19% | 33.78% | 37.7% | 34.53% | 34.23% | 25.05% | 31.33% | |
| GROSS PROFIT | RECONCILIATION TO THE P&L | sum of the service lines | 141,215.8111 | 154,221.1149 | 185,472.2808 | 185,947.4321 | 173,194.4143 | 113,382.7683 | 167,597.0772 | 139,295.9882 | 195,862.7896 | 204,212.5922 | 192,657.015 | 202,914.7604 | 182,945.9647 | 185,867.6758 | 195,942.7553 | 194,494.6613 | 188,522.9457 | 205,579.7487 | 193,296.3495 | 166,104.8176 | 204,885.4706 | 212,850.5955 | 201,719.2551 | 204,500.1177 | 2,055,974.044 | 2,336,710.3574 |
| Check: service lines less the P&L gross profit (must be zero) | RECONCILIATION TO THE P&L | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Managed services share of gross profit | RECONCILIATION TO THE P&L | 64.16% | 60.43% | 53.39% | 56.15% | 58.16% | 93.83% | 64.76% | 85.35% | 55.75% | 52.88% | 55.77% | 57.16% | 61.23% | 62.92% | 59.2% | 61.89% | 62.56% | 57.91% | 64.87% | 79.94% | 58.49% | 55.31% | 58.32% | 60.48% | 61.4% | 61.6% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | GROWTH AND RECURRING REVENUE | PL | 565,487.86 | 596,889.5867 | 653,538.0567 | 633,432.8067 | 632,143.3767 | 602,238.1 | 602,404.58 | 496,657.4933 | 677,209.0095 | 720,170.6033 | 682,827.8793 | 669,111.8286 | 643,317.3306 | 660,913.1196 | 696,378.4564 | 674,790.0495 | 681,706.1412 | 719,723.0808 | 663,122.5151 | 563,079.6702 | 729,981.9191 | 762,517.1185 | 715,172.6931 | 693,736.4013 | 7,532,111.1807 | 8,204,438.4955 |
| Revenue growth on the same month a year earlier | GROWTH AND RECURRING REVENUE | Revenue | -10.12% | -8.75% | -8.11% | -7.22% | -8.64% | -20.6% | -10.55% | -9.12% | -11.45% | -10.52% | -8.71% | -7.63% | 13.76% | 10.73% | 6.56% | 6.53% | 7.84% | 19.51% | 10.08% | 13.37% | 7.79% | 5.88% | 4.74% | 3.68% | ||
| Recurring revenue share (managed services and annual licences) | GROWTH AND RECURRING REVENUE | Revenue | 56.94% | 54.22% | 50.27% | 51.83% | 51.14% | 54.09% | 54.36% | 66.75% | 49.18% | 47.25% | 51.46% | 53.82% | 57.23% | 56.49% | 53.68% | 56% | 55.54% | 52.73% | 57.4% | 67.33% | 52.25% | 50.18% | 53.66% | 55.46% | 53.04% | 55.38% |
| Managed service fees (MRR) | GROWTH AND RECURRING REVENUE | Contracts | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,538.7029 | 237,376.5695 | 252,008.4211 | 251,930.2371 | 256,413.069 | 260,935.5666 | 260,253.7181 | 263,462.6812 | 264,109.049 | 264,741.5994 | 265,700.2716 | 265,901.387 | 266,521.3256 | 267,612.6968 | 268,586.5992 | 269,292.494 | 2,813,869.8407 | 3,173,530.4576 |
| Annualised fees (MRR x 12) | GROWTH AND RECURRING REVENUE | Contracts | 2,667,375.36 | 2,679,225.72 | 2,758,216.2 | 2,773,414.32 | 2,733,453.96 | 2,739,831.96 | 2,824,735.68 | 2,843,937.72 | 2,850,464.4349 | 2,848,518.8343 | 3,024,101.0533 | 3,023,162.8453 | 3,076,956.8281 | 3,131,226.799 | 3,123,044.617 | 3,161,552.1744 | 3,169,308.5883 | 3,176,899.193 | 3,188,403.2598 | 3,190,816.6437 | 3,198,255.9076 | 3,211,352.3619 | 3,223,039.191 | 3,231,509.9275 | 3,023,162.8453 | 3,231,509.9275 |
| Managed users | GROWTH AND RECURRING REVENUE | Contracts | 3,781 | 3,794 | 3,882 | 3,893 | 3,815 | 3,824 | 3,938 | 3,951 | 3,959.919 | 3,943.6114 | 4,208.7595 | 4,207.0633 | 4,267.7778 | 4,334.4589 | 4,301.4472 | 4,341.304 | 4,346.611 | 4,356.7388 | 4,362.887 | 4,344.3065 | 4,354.4388 | 4,361.4622 | 4,365.5558 | 4,375.7463 | 4,207.0633 | 4,375.7463 |
| Managed devices | GROWTH AND RECURRING REVENUE | Contracts | 1,174 | 1,174 | 1,204 | 1,206 | 1,189 | 1,190 | 1,223 | 1,225 | 1,226.386 | 1,220.5667 | 1,296.429 | 1,293.6026 | 1,312.2906 | 1,336.3824 | 1,328.2698 | 1,340.5007 | 1,340.8446 | 1,342.405 | 1,342.552 | 1,335.7496 | 1,337.3043 | 1,338.2528 | 1,336.6816 | 1,338.2374 | 1,293.6026 | 1,338.2374 |
| Contracts billing | GROWTH AND RECURRING REVENUE | Contracts | 30 | 30 | 31 | 31 | 31 | 31 | 32 | 32 | 32 | 32 | 33 | 33 | 34 | 35 | 35 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 33 | 36 |
| Fees per user a month (devices included) | GROWTH AND RECURRING REVENUE | Contracts | 58.789 | 58.8479 | 59.2095 | 59.3675 | 59.7085 | 59.7069 | 59.7752 | 59.9835 | 59.9857 | 60.1927 | 59.8771 | 59.8827 | 60.0812 | 60.2003 | 60.5038 | 60.6875 | 60.7621 | 60.766 | 60.9001 | 61.2069 | 61.2068 | 61.3585 | 61.524 | 61.5421 | 59.6105 | 60.8949 |
| Net revenue retention, trailing 12 months | GROWTH AND RECURRING REVENUE | Contracts | 104.72% | 104.78% | 104.77% | 104.81% | 100.76% | 100.78% | 100.77% | 100.92% | 101.05% | 100.51% | 100.26% | 99.98% | 99.88% | 99.68% | 98.87% | 98.56% | 102.19% | 102.19% | 102.31% | 101.68% | 101.69% | 102.19% | 102.46% | 102.77% | 99.98% | 102.77% |
| Gross revenue retention, trailing 12 months | GROWTH AND RECURRING REVENUE | Contracts | 100% | 100% | 100% | 100% | 96.08% | 96.15% | 96.16% | 96.18% | 96.25% | 95.96% | 95.88% | 95.63% | 95.58% | 95.58% | 95.15% | 95.08% | 98.66% | 98.64% | 98.64% | 98.5% | 98.5% | 98.8% | 98.95% | 99.15% | 95.63% | 99.15% |
| Fees lost at renewal (a month) | GROWTH AND RECURRING REVENUE | Contracts | 0 | 0 | 0 | 0 | 8,250 | 0 | 0 | 0 | 0 | 1,361.6383 | 473.0812 | 739.8268 | 528.692 | 427.7753 | 2,333.2052 | 665.3923 | 328.2123 | 0 | 274.5903 | 1,418.5181 | 0 | 205.0341 | 372.9197 | 0 | 10,824.5464 | 6,554.3392 |
| First-year fees of new contracts | GROWTH AND RECURRING REVENUE | Contracts | 0 | 0 | 63,072 | 0 | 50,832 | 0 | 76,896 | 0 | 0 | 0 | 171,336 | 0 | 44,640 | 46,575 | 0 | 31,056 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 362,136 | 122,271 |
| Tickets | SERVICE DESK AND SLA | Service_Desk | 1,903 | 1,831 | 1,874 | 1,844 | 1,788 | 1,748 | 1,792 | 1,601 | 2,021.3837 | 1,957.0038 | 2,047.7141 | 1,867.6663 | 2,136.4895 | 2,088.6109 | 2,032.4137 | 1,989.6958 | 2,012.4498 | 1,975.7176 | 1,957.6141 | 1,805.4838 | 2,220.7025 | 2,162.2829 | 2,122.5924 | 1,941.395 | 22,274.7678 | 24,445.448 |
| Service desk utilisation | SERVICE DESK AND SLA | Service_Desk | 81.45% | 80.7% | 88.35% | 89.52% | 90.78% | 89.05% | 98.46% | 95.7% | 94.62% | 84.68% | 95.05% | 84.4% | 85.13% | 85.87% | 80.26% | 82.34% | 79.25% | 78.92% | 82.21% | 85.48% | 82.57% | 79.54% | 78.2% | 78.32% | 89.13% | 81.42% |
| SLA attainment | SERVICE DESK AND SLA | Service_Desk | 97.34% | 98.03% | 93.18% | 91.81% | 91.22% | 92.65% | 86.39% | 88.4% | 89% | 95.46% | 88.72% | 95.64% | 95.17% | 94.68% | 98.33% | 96.98% | 98.5% | 98.5% | 97.07% | 94.94% | 96.83% | 98.5% | 98.5% | 98.5% | 92.32% | 97.21% |
| SLA credits | SERVICE DESK AND SLA | Service_Desk | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,319.2709 | 645.3668 | 9,176.7481 | 456.6435 | 1,068.3183 | 1,719.1687 | 0 | 0 | 0 | 0 | 0 | 1,408.7132 | 0 | 0 | 0 | 0 | 56,251.0392 | 4,196.2001 |
| SLA credits, % of fees | SERVICE DESK AND SLA | Service_Desk | 0% | 0% | 1.41% | 2.09% | 2.39% | 1.67% | 4.81% | 3.8% | 3.5% | 0.27% | 3.64% | 0.18% | 0.42% | 0.66% | 0% | 0% | 0% | 0% | 0% | 0.53% | 0% | 0% | 0% | 0% | 2% | 0.13% |
| Service desk FTE | SERVICE DESK AND SLA | Service_Desk | 39 | 39 | 38 | 37 | 36 | 36 | 37 | 37 | 36.5683 | 39.1417 | 41.1167 | 41.0637 | 43.0412 | 43.0188 | 43.996 | 44.9848 | 44.9619 | 45.9506 | 45.9394 | 45.928 | 45.9282 | 45.9283 | 45.9283 | 45.9283 | 41.0637 | 45.9283 |
| FTE short (+) or spare (-) against the utilisation knee | SERVICE DESK AND SLA | Service_Desk | 0.7087 | 0.3426 | 3.9679 | 4.4034 | 4.8498 | 4.0745 | 8.5363 | 7.2598 | 6.684 | 2.2911 | 7.7354 | 2.2605 | 2.759 | 3.1583 | 0.1435 | 1.3158 | -0.4238 | -0.6184 | 1.2677 | 3.1439 | 1.4775 | -0.2626 | -1.0348 | -0.966 | 4.4261 | 0.83 |
| Tickets per service desk FTE | SERVICE DESK AND SLA | Service_Desk | 48.7949 | 46.9487 | 49.3158 | 49.8378 | 49.6667 | 48.5556 | 48.4324 | 43.2703 | 55.2769 | 49.9979 | 49.8025 | 45.4822 | 49.6382 | 48.5511 | 46.1955 | 44.2304 | 44.759 | 42.9965 | 42.613 | 39.3112 | 48.3516 | 47.0795 | 46.2153 | 42.2701 | 48.7818 | 45.1843 |
| Gross margin % | MARGINS AND SERVICE LINES | PL | 24.97% | 25.84% | 28.38% | 29.36% | 27.4% | 18.83% | 27.82% | 28.05% | 28.92% | 28.36% | 28.21% | 30.33% | 28.44% | 28.12% | 28.14% | 28.82% | 27.65% | 28.56% | 29.15% | 29.5% | 28.07% | 27.91% | 28.21% | 29.48% | 27.3% | 28.48% |
| Gross margin %: managed services | MARGINS AND SERVICE LINES | Margins | 31.42% | 32.15% | 33.6% | 35.46% | 34.81% | 36.47% | 37% | 39.98% | 36.54% | 35.28% | 33.88% | 35.61% | 33.65% | 34.59% | 34.26% | 35.14% | 34.36% | 34.6% | 36.33% | 38.64% | 34.66% | 33.92% | 33.8% | 35.44% | 35.19% | 34.95% |
| Gross margin %: hardware (after rebates) | MARGINS AND SERVICE LINES | Margins | 14.22% | 14.22% | 14.21% | 13.97% | 14.16% | 14% | 13.99% | 13.7% | 14.4% | 14.14% | 14.01% | 14.03% | 14.04% | 14.2% | 14.13% | 14.07% | 14.12% | 14.19% | 13.96% | 13.79% | 14.42% | 14.14% | 14.01% | 14.03% | 14.1% | 14.11% |
| Gross margin %: licence resale | MARGINS AND SERVICE LINES | Margins | 50.68% | 38.77% | 41.47% | 39.42% | 39.32% | 40.3% | 38.76% | 34.72% | 40.55% | 40.93% | 41.62% | 43.31% | 49.85% | 37.5% | 40.1% | 38.15% | 38.2% | 39.28% | 37.81% | 34.04% | 40.09% | 40.44% | 41.11% | 42.79% | 40.84% | 39.98% |
| Gross margin %: projects | MARGINS AND SERVICE LINES | Margins | 7.12% | 24.72% | 40.05% | 38.44% | 29.2% | -145.79% | 21.66% | -25.52% | 37.7% | 39.07% | 36.01% | 41.06% | 28.51% | 29.04% | 32.96% | 32.65% | 28.34% | 36.67% | 29.84% | 4.19% | 33.78% | 37.7% | 34.53% | 34.23% | 25.05% | 31.33% |
| Distributor rebate, % of purchases | MARGINS AND SERVICE LINES | Rebates | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% |
| Project team utilisation | MARGINS AND SERVICE LINES | Projects | 45.56% | 56.82% | 73.06% | 75.43% | 65.99% | 66.26% | 65.46% | 40.14% | 83.27% | 94.2% | 88.53% | 87.85% | 67.21% | 71.68% | 76.8% | 77.32% | 71.06% | 83.38% | 74.82% | 53.53% | 78.68% | 84.04% | 78.82% | 79.59% | 70.21% | 74.74% |
| Signed project backlog | MARGINS AND SERVICE LINES | Projects | 722,040.12 | 653,398.69 | 561,728.53 | 465,677.23 | 377,028.12 | 347,174.51 | 276,050.8 | 237,279.03 | 147,197.2381 | 98,455.619 | 49,714 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 0 |
| Cash at bank | CASH, DEBT AND PEOPLE | BS | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 805,903.2175 | 747,498.1932 | 689,023.0115 | 704,225.5232 | 774,924.957 | 843,337.6067 | 973,624.4029 | 1,013,620.0447 | 1,122,811.4059 | 1,067,687.9955 | 997,915.306 | 1,190,957.8757 | 1,267,478.3334 | 1,207,475.5981 | 1,198,311.3367 | 1,204,217.4696 | 704,225.5232 | 1,204,217.4696 |
| Minimum cash buffer (board policy) | CASH, DEBT AND PEOPLE | Assumptions | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 |
| Headroom over the buffer | CASH, DEBT AND PEOPLE | 681,285.7015 | 791,256.1735 | 885,102.2266 | 855,629.5897 | 751,241.0653 | 480,479.6874 | 319,668.2707 | 442,052.8828 | 405,903.2175 | 347,498.1932 | 289,023.0115 | 304,225.5232 | 374,924.957 | 443,337.6067 | 573,624.4029 | 613,620.0447 | 722,811.4059 | 667,687.9955 | 597,915.306 | 790,957.8757 | 867,478.3334 | 807,475.5981 | 798,311.3367 | 804,217.4696 | 304,225.5232 | 804,217.4696 | |
| Bank loan | CASH, DEBT AND PEOPLE | Financing | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | 500,000.08 | 900,000.04 | 500,000.08 |
| Net debt | CASH, DEBT AND PEOPLE | Financing | 185,380.9685 | 42,077.1665 | -85,102.2166 | -88,962.9097 | -17,907.7153 | 219,520.3326 | 346,998.4193 | 191,280.4772 | 194,096.8125 | 219,168.5068 | 244,310.3585 | 195,774.5168 | 91,741.753 | -10,004.2267 | -173,624.3529 | -246,953.3247 | -389,478.0159 | -367,687.9355 | -331,248.576 | -557,624.4757 | -667,478.2634 | -640,808.8581 | -664,977.9267 | -704,217.3896 | 195,774.5168 | -704,217.3896 |
| Net debt / EBITDA, last twelve months | CASH, DEBT AND PEOPLE | Financing | 0.1418 | 0.033 | -0.0681 | -0.0722 | -0.0149 | 0.2019 | 0.3313 | 0.1871 | 0.1964 | 0.2322 | 0.2718 | 0.2268 | 0.1036 | -0.011 | -0.1902 | -0.2709 | -0.4236 | -0.366 | -0.3231 | -0.5335 | -0.6377 | -0.6083 | -0.627 | -0.6652 | 0.2268 | -0.6652 |
| Debt service cover, last twelve months | CASH, DEBT AND PEOPLE | Financing | 2.3887 | 2.3276 | 2.2567 | 2.2245 | 2.2213 | 1.7387 | 1.5985 | 1.5492 | 1.4238 | 1.3224 | 1.2209 | 1.0883 | 1.1265 | 1.1818 | 1.2133 | 1.209 | 1.2283 | 1.6583 | 1.7834 | 1.8331 | 2.0941 | 2.1242 | 2.154 | 2.2311 | 1.0883 | 2.2311 |
| Debtor days | CASH, DEBT AND PEOPLE | Receivables | 40.8929 | 36.4222 | 37.7171 | 41.7719 | 39.2766 | 40.1042 | 40.964 | 37.2791 | 44.5695 | 45.328 | 42.3074 | 39.6909 | 43.6909 | 38.4531 | 36.9076 | 39.5207 | 40.2427 | 41.4961 | 40.0696 | 36.36 | 43.5442 | 45.3329 | 39.7976 | 39.8644 | 39.6909 | 39.8644 |
| EBITDA | CASH, DEBT AND PEOPLE | PL | 45,992.7496 | 56,946.4873 | 76,787.6968 | 90,078.0713 | 69,717.8865 | 14,666.2618 | 71,880.7739 | 52,553.2371 | 99,203.2087 | 94,200.7741 | 88,323.3367 | 102,871.1048 | 68,305.4718 | 80,414.2273 | 80,675.4069 | 88,817.3124 | 77,606.4581 | 99,710.3891 | 92,455.8436 | 72,696.5536 | 100,575.3144 | 101,051.5779 | 95,393.1611 | 100,919.5311 | 863,221.5886 | 1,058,621.2472 |
| EBITDA % of revenue | CASH, DEBT AND PEOPLE | PL | 8.13% | 9.54% | 11.75% | 14.22% | 11.03% | 2.44% | 11.93% | 10.58% | 14.65% | 13.08% | 12.93% | 15.37% | 10.62% | 12.17% | 11.58% | 13.16% | 11.38% | 13.85% | 13.94% | 12.91% | 13.78% | 13.25% | 13.34% | 14.55% | 11.46% | 12.9% |
| Free cash flow (before financing) | CASH, DEBT AND PEOPLE | CF | 164,619.0315 | 143,303.802 | 127,179.3831 | 3,860.6931 | 188,144.8056 | -136,628.0479 | -127,478.0867 | 155,717.9421 | -2,816.3354 | -25,071.6943 | -25,141.8517 | 48,535.8417 | 104,032.7639 | 101,745.9797 | 163,620.1262 | 73,328.9718 | 142,524.6912 | -21,790.0804 | -36,439.3595 | 226,375.8997 | 109,853.7878 | -26,669.4053 | 24,169.0685 | 39,239.463 | 514,225.4832 | 899,991.9065 |
| Headcount | CASH, DEBT AND PEOPLE | People | 68 | 69 | 69 | 68 | 67 | 67 | 68 | 68 | 67.3042 | 69.6159 | 71.5958 | 71.5452 | 75.5227 | 75.4794 | 76.436 | 77.4253 | 77.4026 | 78.3913 | 78.38 | 78.3686 | 78.3689 | 78.369 | 78.369 | 78.369 | 71.5452 | 78.369 |
| Revenue per employee, annualised | CASH, DEBT AND PEOPLE | 99,791.9753 | 103,806.8846 | 113,658.7925 | 111,782.26 | 113,219.7093 | 107,863.5403 | 106,306.6906 | 87,645.44 | 120,743.0166 | 124,139.0517 | 114,447.0783 | 112,227.555 | 102,218.3876 | 105,074.4857 | 109,327.3462 | 104,584.4563 | 105,687.3807 | 110,173.947 | 101,524.2274 | 86,220.1864 | 111,776.3046 | 116,757.9663 | 109,508.5108 | 106,226.1498 | 112,227.555 | 106,226.1498 |
| Code | Customer (fictional) | Country | Sector | VAT on invoices | First contract start (month) | Start month no. | Status | Users at 31-Dec-25 (live) or at signature | Devices at 31-Dec-25 or at signature | Price per user a month (31-Dec-25 or signature) | Price per device a month | User growth a month | Payment terms (days) | SLA tier | Probability Base (renewal or win) | Probability Downside | Probability Upside | Probability selected | Effective start month no. | Anniversary month | Next renewal after the last actual month | Onboarding fee (starts from Jan-25) | Expected onboarding fee (pipeline x win probability) | Users at the last actual month | Devices at the last actual month | Fees at the last actual month | Managed services revenue FY2026 (fees and licences) | Managed services revenue FY2027 | Share of FY2026 managed services revenue | Delivery cost allocated FY2026 (desk hours, tooling, licences) | Contribution FY2026 | Contribution % FY2026 | Contract note (fictional) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C01 | Brevanor Têxteis, S.A. | PT | Textiles | 0.23 | 2021-03-31 | -57 | Live | 420 | 95 | 38.5 | 64 | 0.002 | 45 | Premium | 0.9 | 0.5 | 0.95 | 0.9 | -57 | March | 2027-03-31 | 0 | 0 | 425 | 96 | 23,091.67 | 364,385.7218 | 350,650.3305 | 0.1002 | 229,550.9581 | 134,834.7637 | 37% | Largest contract: 420 users across two plants and the head office. Renews in March 2027; a regional competitor has approached the IT director. ERP infrastructure project J01 overran (Projects). |
| C02 | Clínicas Almedra, Lda | PT | Healthcare | 0.23 | 2022-04-30 | -44 | Live | 260 | 70 | 44 | 58 | 0.004 | 30 | Premium | 0.94 | 0.85 | 0.97 | 0.94 | -44 | April | 2028-04-30 | 0 | 0 | 269 | 70 | 16,309.3 | 249,144.1509 | 268,038.0661 | 0.0685 | 150,152.4758 | 98,991.6752 | 39.73% | |
| C03 | Solvinha Calçado, Lda | PT | Footwear | 0.23 | 2023-10-31 | -26 | Live | 150 | 38 | 40 | 55 | 0.001 | 45 | Standard | 0.92 | 0.8 | 0.95 | 0.92 | -26 | October | 2026-10-31 | 0 | 0 | 153 | 38 | 8,210 | 128,282.1914 | 125,562.5941 | 0.0353 | 82,924.426 | 45,357.7654 | 35.36% | |
| C04 | Valcorra Advogados | PT | Legal services | 0.23 | 2020-03-31 | -69 | Live | 95 | 22 | 52 | 72 | 0.002 | 30 | Premium | 0.95 | 0.88 | 0.97 | 0.95 | -69 | March | 2029-03-31 | 0 | 0 | 96 | 22 | 6,746.98 | 100,573.3262 | 105,654.2653 | 0.0277 | 52,045.8219 | 48,527.5043 | 48.25% | |
| C05 | Colégios Maravel | PT | Education | 0.23 | 2021-08-31 | -52 | Live | 310 | 85 | 29 | 48 | 0.002 | 30 | Standard | 0.93 | 0.85 | 0.96 | 0.93 | -52 | August | 2027-08-31 | 0 | 0 | 314 | 87 | 13,627.33 | 225,949.2054 | 230,547.3139 | 0.0621 | 178,662.2923 | 47,286.9131 | 20.93% | |
| C06 | Metalúrgica Vaurinho, Lda | PT | Metalworking | 0.23 | 2023-01-31 | -35 | Live | 120 | 40 | 41 | 60 | 0.001 | 45 | Standard | 0.93 | 0.85 | 0.96 | 0.93 | -35 | January | 2029-01-31 | 0 | 0 | 122 | 40 | 7,594.45 | 116,557.6351 | 121,250.0755 | 0.0321 | 73,372.516 | 43,185.1191 | 37.05% | |
| C07 | Quintas Delvara, S.A. | PT | Wine exports | 0.23 | 2024-02-29 | -22 | Live | 85 | 30 | 45 | 62 | 0.003 | 30 | Standard | 0.93 | 0.85 | 0.96 | 0.93 | -22 | February | 2027-02-28 | 0 | 0 | 88 | 31 | 6,034.93 | 90,111.2027 | 89,784.8531 | 0.0248 | 53,888.5647 | 36,222.638 | 40.2% | |
| C08 | Farmácias Oliveda | PT | Pharmacy retail | 0.23 | 2022-01-31 | -47 | Live | 180 | 90 | 39 | 45 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.94 | -47 | January | 2028-01-31 | 0 | 0 | 185 | 91 | 11,604.06 | 177,372.525 | 188,298.5616 | 0.0488 | 129,145.5664 | 48,226.9586 | 27.19% | |
| C09 | Moldivel Plásticos, S.A. | PT | Plastics | 0.23 | 2023-07-31 | -29 | Live | 140 | 45 | 40 | 63 | 0.002 | 60 | Standard | 0.93 | 0.85 | 0.96 | 0.93 | -29 | July | 2029-07-31 | 0 | 0 | 143 | 45 | 8,777.43 | 133,238.889 | 140,260.3406 | 0.0366 | 84,545.1382 | 48,693.7508 | 36.55% | |
| C10 | Pravel Contabilidade, Lda | PT | Accounting | 0.23 | 2024-10-31 | -14 | Live | 60 | 12 | 50 | 70 | 0.002 | 30 | Standard | 0.95 | 0.88 | 0.97 | 0.95 | -14 | October | 2027-10-31 | 0 | 0 | 61 | 12 | 3,890 | 59,544.5296 | 61,972.0766 | 0.0164 | 31,802.3423 | 27,742.1873 | 46.59% | |
| C11 | Hotéis Alvenosa | PT | Hotels | 0.23 | 2022-08-31 | -40 | Live | 130 | 60 | 37 | 52 | 0.002 | 30 | Standard | 0.93 | 0.85 | 0.96 | 0.93 | -40 | August | 2028-08-31 | 0 | 0 | 132 | 60 | 8,212.1 | 124,440.9767 | 130,519.5369 | 0.0342 | 89,296.0871 | 35,144.8895 | 28.24% | |
| C12 | Cerâmicas Lovredo, S.A. | PT | Ceramics | 0.23 | 2023-11-30 | -25 | Live | 110 | 36 | 41 | 61 | 0.001 | 45 | Standard | 0.93 | 0.84 | 0.96 | 0.93 | -25 | November | 2026-11-30 | 0 | 0 | 111 | 36 | 6,747 | 103,181.5601 | 101,100.9972 | 0.0284 | 65,699.5797 | 37,481.9804 | 36.33% | |
| C13 | Castelvi Imobiliária | PT | Real estate | 0.23 | 2025-03-31 | -9 | Live | 70 | 15 | 47 | 66 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.94 | -9 | March | 2028-03-31 | 3,150 | 3,150 | 71 | 15 | 4,439.5 | 67,860.4896 | 71,936.6829 | 0.0187 | 37,757.5678 | 30,102.9219 | 44.36% | |
| C14 | Agrícola Vinhedal | PT | Agrifood | 0.23 | 2023-05-31 | -31 | Live | 90 | 28 | 39 | 58 | 0.002 | 45 | Standard | 0.93 | 0.85 | 0.96 | 0.93 | -31 | May | 2029-05-31 | 0 | 0 | 92 | 28 | 5,347.51 | 82,711.395 | 86,864.4622 | 0.0227 | 53,980.2745 | 28,731.1204 | 34.74% | |
| C15 | Engenharia Morvelo, Lda | PT | Engineering | 0.23 | 2024-05-31 | -19 | Live | 75 | 20 | 49 | 70 | 0.003 | 30 | Premium | 0.94 | 0.86 | 0.97 | 0.94 | -19 | May | 2027-05-31 | 0 | 0 | 78 | 20 | 5,357.77 | 79,510.7143 | 81,304.2368 | 0.0219 | 43,329.4461 | 36,181.2682 | 45.5% | |
| C16 | Cooperativa Leiteira Bravanha | PT | Dairy | 0.23 | 2020-10-31 | -62 | Live | 160 | 52 | 36 | 57 | 0.001 | 60 | Standard | 0.92 | 0.8 | 0.95 | 0.92 | -62 | October | 2026-10-31 | 0 | 0 | 162 | 52 | 8,796 | 136,941.0342 | 134,096.1423 | 0.0377 | 94,632.9653 | 42,308.069 | 30.9% | |
| C17 | Laboratórios Cendral, Lda | PT | Clinical laboratories | 0.23 | 2024-08-31 | -16 | Live | 115 | 42 | 46 | 68 | 0.004 | 30 | Premium | 0.95 | 0.88 | 0.97 | 0.95 | -16 | August | 2027-08-31 | 0 | 0 | 119 | 43 | 8,616.35 | 126,288.6669 | 132,246.2795 | 0.0347 | 73,717.915 | 52,570.7519 | 41.63% | |
| C18 | Mediavir Seguros | PT | Insurance broking | 0.23 | 2025-06-30 | -6 | Live | 55 | 10 | 48 | 65 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.94 | -6 | June | 2028-06-30 | 2,475 | 2,475 | 56 | 10 | 3,424.79 | 52,171.8099 | 55,475.7282 | 0.0143 | 28,594.5345 | 23,577.2753 | 45.19% | |
| C19 | Construtora Arvedo, S.A. | PT | Construction | 0.23 | 2023-02-28 | -34 | Live | 145 | 38 | 38 | 60 | 0.002 | 60 | Standard | 0.92 | 0.82 | 0.95 | 0.92 | -34 | February | 2029-02-28 | 0 | 0 | 147 | 38 | 8,070.52 | 127,015.8887 | 133,647.9879 | 0.0349 | 82,146.9834 | 44,868.9053 | 35.33% | |
| C20 | Distribuidora Pellano, Lda | PT | Wholesale | 0.23 | 2024-01-31 | -23 | Live | 125 | 40 | 39 | 58 | 0.002 | 45 | Standard | 0.93 | 0.84 | 0.96 | 0.93 | -23 | January | 2027-01-31 | 0 | 0 | 128 | 40 | 7,502.11 | 116,394.7667 | 113,955.8427 | 0.032 | 75,625.0649 | 40,769.7019 | 35.03% | |
| C21 | Gráfica Tornavel, Lda | PT | Printing | 0.23 | 2022-07-31 | -41 | Live | 65 | 24 | 42 | 60 | 0 | 45 | Standard | 0.92 | 0.82 | 0.95 | 0.92 | -41 | July | 2028-07-31 | 0 | 0 | 65 | 24 | 4,278.42 | 64,286.0316 | 66,110.4006 | 0.0177 | 40,727.4759 | 23,558.5557 | 36.65% | |
| C22 | Óticas Lumarel | PT | Optical retail | 0.23 | 2024-11-30 | -13 | Live | 95 | 50 | 37 | 44 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.94 | -13 | November | 2027-11-30 | 0 | 0 | 97 | 51 | 5,833 | 90,273.2117 | 94,900.3792 | 0.0248 | 69,565.352 | 20,707.8598 | 22.94% | |
| C23 | Salmeira Arquitetos | PT | Architecture | 0.23 | 2025-09-30 | -3 | Live | 40 | 9 | 52 | 72 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.94 | -3 | September | 2028-09-30 | 1,800 | 1,800 | 41 | 9 | 2,780 | 42,158.5468 | 44,801.4135 | 0.0116 | 21,963.3513 | 20,195.1955 | 47.9% | |
| C24 | Traslovia Transportes, Lda | PT | Logistics | 0.23 | 2023-05-31 | -31 | Not renewed Apr-26 | 150 | 40 | 39 | 60 | 0.001 | 45 | Standard | 0 | 0 | 0 | 0 | -31 | May | 2029-05-31 | 0 | 0 | 0 | 0 | 0 | 43,570.9461 | 0 | 0.012 | 28,327.6558 | 15,243.2904 | 34.98% | Not renewed at the April 2026 term end: moved to a competitor offering a lower price per user with a remote-only service desk. |
| C25 | Conservas Brelmar, S.L. | ES | Seafood canning | 0 | 2024-04-30 | -20 | Live | 140 | 45 | 43 | 64 | 0.002 | 60 | Premium | 0.93 | 0.85 | 0.96 | 0.93 | -20 | April | 2027-04-30 | 0 | 0 | 143 | 47 | 9,395.08 | 140,895.2568 | 140,902.6746 | 0.0387 | 85,445.4245 | 55,449.8324 | 39.36% | |
| C26 | Talleres Brañoso, S.L. | ES | Industrial engineering | 0 | 2023-08-31 | -28 | Live | 90 | 34 | 44 | 66 | 0.002 | 60 | Standard | 0.93 | 0.85 | 0.96 | 0.93 | -28 | August | 2029-08-31 | 0 | 0 | 92 | 34 | 6,455.59 | 95,088.9399 | 100,042.305 | 0.0261 | 57,404.7272 | 37,684.2127 | 39.63% | Final milestone of project J11 (ERP hosting move) invoiced in June and disputed pending the performance acceptance test. |
| C27 | Clínica Veigadal, S.L. | ES | Healthcare | 0 | 2025-02-28 | -10 | Live | 70 | 18 | 47 | 64 | 0.003 | 45 | Standard | 0.94 | 0.86 | 0.97 | 0.94 | -10 | February | 2028-02-29 | 3,150 | 3,150 | 73 | 18 | 4,702.16 | 70,887.7096 | 75,825.8281 | 0.0195 | 40,030.3121 | 30,857.3975 | 43.53% | |
| C28 | Maderas Ouriñal, S.L. | ES | Timber | 0 | 2022-10-31 | -38 | Live | 80 | 30 | 41 | 59 | 0.001 | 60 | Standard | 0.92 | 0.82 | 0.95 | 0.92 | -38 | October | 2028-10-31 | 0 | 0 | 80 | 30 | 5,050 | 78,136.3591 | 80,846.7929 | 0.0215 | 50,605.8769 | 27,530.4821 | 35.23% | |
| C29 | Pesqueras Morazal, S.L. | ES | Fishing | 0 | 2023-12-31 | -24 | Live | 95 | 36 | 42 | 60 | 0.001 | 60 | Standard | 0.88 | 0.75 | 0.93 | 0.88 | -24 | December | 2026-12-31 | 0 | 0 | 95 | 36 | 6,150 | 92,901.2131 | 85,838.8042 | 0.0255 | 59,481.7285 | 33,419.4846 | 35.97% | Renews December 2026; the owner has asked for a price reduction after two SLA breaches in the summer. |
| C30 | Bodegas Quenlla, S.L. | ES | Winery | 0 | 2024-07-31 | -17 | Live | 55 | 20 | 45 | 62 | 0.002 | 45 | Standard | 0.93 | 0.85 | 0.96 | 0.93 | -17 | July | 2027-07-31 | 0 | 0 | 56 | 20 | 3,857.76 | 57,378.8658 | 57,999.3159 | 0.0158 | 34,663.522 | 22,715.3438 | 39.59% | |
| C31 | Ferroval Automação, Lda | PT | Industrial automation | 0.23 | 2026-03-31 | 3 | Won in 2026 | 80 | 28 | 44 | 62 | 0.004 | 30 | Standard | 0.95 | 0.88 | 0.97 | 0.95 | 3 | March | 2029-03-31 | 3,600 | 3,600 | 81 | 29 | 5,362 | 67,541.419 | 86,502.1273 | 0.0186 | 41,663.2694 | 25,878.1496 | 38.31% | |
| C32 | Clínica Dentária Rosmel | PT | Dental clinics | 0.23 | 2026-05-31 | 5 | Won in 2026 | 66 | 20 | 46 | 60 | 0.004 | 30 | Standard | 0.95 | 0.88 | 0.97 | 0.95 | 5 | May | 2029-05-31 | 2,970 | 2,970 | 67 | 20 | 4,282 | 43,666.4186 | 69,398.4511 | 0.012 | 26,140.0555 | 17,526.3631 | 40.14% | |
| C33 | Mobiliário Tarvela, Lda | PT | Furniture | 0.23 | 2026-07-31 | 7 | Won in 2026 | 108 | 33 | 41 | 60 | 0.003 | 45 | Standard | 0.95 | 0.88 | 0.97 | 0.95 | 7 | July | 2029-07-31 | 4,860 | 4,860 | 109 | 33 | 6,449 | 50,256.2686 | 104,910.1171 | 0.0138 | 32,082.1162 | 18,174.1525 | 36.16% | |
| P01 | Grupo Hospitalar Venara | PT | Hospitals | 0.23 | 2026-11-30 | 11 | Pipeline | 480 | 140 | 36 | 62 | 0.003 | 60 | Premium | 0.55 | 0.35 | 0.7 | 0.55 | 11 | November | 2026-11-30 | 21,600 | 11,880 | 0 | 0 | 0 | 37,808.5932 | 233,619.1833 | 0.0104 | 25,559.6288 | 12,248.9644 | 32.4% | Hospital group tender: shortlisted with two competitors; decision expected in October for a November start. |
| P02 | Exportadora Linhelo, S.A. | PT | Food exports | 0.23 | 2027-01-31 | 13 | Pipeline | 120 | 40 | 42 | 60 | 0.003 | 45 | Standard | 0.5 | 0.3 | 0.65 | 0.5 | 13 | January | 2027-01-31 | 5,400 | 2,700 | 0 | 0 | 0 | 0 | 58,401.1254 | 0 | 0 | 0 | 0% | |
| P03 | Logística Crastova, Lda | PT | Logistics | 0.23 | 2027-02-28 | 14 | Pipeline | 140 | 55 | 40 | 55 | 0.002 | 45 | Standard | 0.45 | 0.25 | 0.6 | 0.45 | 14 | February | 2027-02-28 | 6,300 | 2,835 | 0 | 0 | 0 | 0 | 55,610.6316 | 0 | 0 | 0 | 0% | |
| P04 | Conservas Galmira, S.L. | ES | Seafood canning | 0 | 2027-04-30 | 16 | Pipeline | 100 | 35 | 43 | 62 | 0.002 | 60 | Standard | 0.4 | 0.25 | 0.55 | 0.4 | 16 | April | 2027-04-30 | 4,500 | 1,800 | 0 | 0 | 0 | 0 | 29,960.8621 | 0 | 0 | 0 | 0% | |
| TOTAL | 3,775 | 1,174 | 59,805 | 41,220 | 3,951 | 1,225 | 236,994.81 | 3,636,526.4592 | 4,108,836.7856 | 1 | 2,324,531.016 | 1,311,995.4433 | 36.08% |
| Code | Contract | Customer (fictional) | Project | Type | Fee (fixed fee) or rate per hour (T&M) | Start | Planned completion | Start no. | End no. | Own hours at completion (estimate) | Subcontract hours at completion | Own hours to 31-Dec-25 | Subcontract hours to 31-Dec-25 | Revenue to 31-Dec-25 | Billed to 31-Dec-25 | Downside overrun applies (1) | Country | Own hours to the last actual month | Subcontract hours to the last actual month | Own hours at completion, forecast (incl. scenario overrun) | Subcontract hours at completion, forecast | Progress at the last actual month | Revenue FY2026 | Billed FY2026 | Billed less revenue at the last actual month (+ ahead) | Onerous provision at the last actual month | Cost at completion (standard) | Margin at completion (standard cost) | Margin % | Note (fictional) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| J01 | C01 | Brevanor Têxteis, S.A. | ERP infrastructure and cloud migration | FF | 158,000 | 2025-11-30 | 2026-11-30 | -1 | 11 | 2,150 | 1,350 | 175 | 0 | 13,487.8 | 47,400 | 1 | PT | 1,415 | 980 | 2,150 | 1,350 | 0.6843 | 144,512.2 | 110,600 | 2,482.86 | 2,507.14 | 175,200 | -17,200 | -10.89% | Estimate at completion raised in June from 1,900 own + 150 subcontract hours to 2,150 + 1,350: the ERP data migration needed a specialist subcontractor. Loss-making at completion: provision under IAS 37. |
| J02 | C02 | Clínicas Almedra, Lda | Clinic network and Wi-Fi refresh | FF | 64,000 | 2026-01-31 | 2026-04-30 | 1 | 4 | 780 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 780 | 0 | 780 | 0 | 1 | 64,000 | 64,000 | 0 | 0 | 23,400 | 40,600 | 63.44% | |
| J03 | C12 | Cerâmicas Lovredo, S.A. | Server virtualisation | FF | 52,000 | 2026-03-31 | 2026-07-31 | 3 | 7 | 640 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 640 | 0 | 640 | 0 | 1 | 52,000 | 52,000 | 0 | 0 | 19,200 | 32,800 | 63.08% | |
| J04 | C25 | Conservas Brelmar, S.L. | Security hardening and SOC onboarding | TM | 68 | 2026-02-28 | 2026-09-30 | 2 | 9 | 880 | 0 | 0 | 0 | 0 | 0 | 0 | ES | 727 | 0 | 880 | 0 | 0.8261 | 59,840 | 59,840 | 0 | 0 | 26,400 | 33,440 | 55.88% | |
| J05 | C19 | Construtora Arvedo, S.A. | Construction site connectivity | TM | 60 | 2026-01-31 | 2026-12-31 | 1 | 12 | 1,680 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 1,074 | 0 | 1,680 | 0 | 0.6393 | 100,800 | 100,800 | 0 | 0 | 50,400 | 50,400 | 50% | |
| J06 | C31 | Ferroval Automação, Lda | Onboarding and migration | FF | 32,000 | 2026-03-31 | 2026-05-31 | 3 | 5 | 400 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 410 | 0 | 400 | 0 | 1 | 32,000 | 32,000 | 0 | 0 | 12,000 | 20,000 | 62.5% | |
| J07 | C07 | Quintas Delvara, S.A. | Productivity suite tenant migration | FF | 38,000 | 2026-06-30 | 2026-09-30 | 6 | 9 | 470 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 310 | 0 | 470 | 0 | 0.6596 | 38,000 | 38,000 | 1,536.17 | 0 | 14,100 | 23,900 | 62.89% | |
| J08 | C08 | Farmácias Oliveda | Store network upgrade (signed Aug-26) | FF | 88,000 | 2026-09-30 | 2027-01-31 | 9 | 13 | 1,100 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 0 | 0 | 1,100 | 0 | 0 | 70,400 | 61,600 | 0 | 0 | 33,000 | 55,000 | 62.5% | Signed in August; starts in September. |
| J09 | C17 | Laboratórios Cendral, Lda | Backup and disaster recovery | TM | 64 | 2026-01-31 | 2026-12-31 | 1 | 12 | 960 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 621 | 0 | 960 | 0 | 0.6469 | 61,440 | 61,440 | 0 | 0 | 28,800 | 32,640 | 53.12% | |
| J10 | C33 | Mobiliário Tarvela, Lda | Onboarding and migration | FF | 36,000 | 2026-07-31 | 2026-09-30 | 7 | 9 | 450 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 225 | 0 | 450 | 0 | 0.5 | 36,000 | 36,000 | 7,200 | 0 | 13,500 | 22,500 | 62.5% | |
| J11 | C26 | Talleres Brañoso, S.L. | ERP hosting move | FF | 72,000 | 2026-01-31 | 2026-06-30 | 1 | 6 | 880 | 0 | 0 | 0 | 0 | 0 | 0 | ES | 880 | 0 | 880 | 0 | 1 | 72,000 | 72,000 | 0 | 0 | 26,400 | 45,600 | 63.33% | Final milestone invoiced in June and disputed pending the performance acceptance test. |
| J12 | C32 | Clínica Dentária Rosmel | Onboarding and migration | FF | 24,000 | 2026-05-31 | 2026-07-31 | 5 | 7 | 300 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 305 | 0 | 300 | 0 | 1 | 24,000 | 24,000 | 0 | 0 | 9,000 | 15,000 | 62.5% | |
| TOTAL | 175 | 0 | 13,487.8 | 47,400 | 7,387 | 980 | 754,992.2 | 712,280 | 11,219.03 | 2,507.14 |
| Measure | Jan-25 | Feb-25 | Mar-25 | Apr-25 | May-25 | Jun-25 | Jul-25 | Aug-25 | Sep-25 | Oct-25 | Nov-25 | Dec-25 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | 198,180.03 | 203,256.83 | 208,618.07 | 209,706.43 | 210,578.13 | 214,324.84 | 214,973.11 | 216,129.73 | 219,101.62 | 220,060.95 | 220,925.5 | 221,378 | 2,557,233.24 |
| Managed services: SLA credits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,964.77 | 0 | 0 | 0 | 0 | -1,964.77 |
| Managed services: onboarding fees recognised | 0 | 87.5 | 175 | 175 | 175 | 243.75 | 243.75 | 243.75 | 293.75 | 293.75 | 293.75 | 293.75 | 2,518.75 |
| Licences bundled in managed contracts | 58,205.39 | 59,509.02 | 60,809.83 | 60,942.71 | 61,001.75 | 62,144.03 | 62,372.31 | 62,428.91 | 63,080.5 | 63,236.17 | 63,345.48 | 63,494.89 | 740,570.99 |
| Annual licences (recognised over 12 months) | 31,416.67 | 31,500 | 31,583.33 | 31,666.67 | 31,666.67 | 31,750 | 31,833.33 | 31,833.33 | 32,000 | 32,083.33 | 32,166.67 | 32,333.33 | 381,833.33 |
| Licences resold as agent: commission and incentive | 7,360.6 | 7,785.25 | 10,050.05 | 8,209.9 | 8,493 | 9,059.2 | 8,068.35 | 5,803.55 | 9,342.3 | 10,191.6 | 11,040.9 | 13,588.8 | 108,993.5 |
| Hardware | 238,000 | 251,000 | 292,000 | 268,000 | 281,000 | 329,000 | 262,000 | 171,000 | 334,000 | 361,000 | 302,000 | 279,000 | 3,368,000 |
| Projects | 96,000 | 101,000 | 108,000 | 104,000 | 99,000 | 112,000 | 94,000 | 61,000 | 107,000 | 118,000 | 118,165.85 | 114,321.95 | 1,232,487.8 |
| REVENUE | 629,162.69 | 654,138.6 | 711,236.28 | 682,700.71 | 691,914.55 | 758,521.82 | 673,490.85 | 546,474.5 | 764,818.17 | 804,865.8 | 747,938.15 | 724,410.72 | 8,389,672.84 |
| Hardware cost net of distributor rebates | 201,965.16 | 211,947.57 | 247,043.65 | 226,994.81 | 237,714.51 | 277,858.61 | 222,470.82 | 145,737.01 | 281,100.67 | 305,317.64 | 255,945.19 | 236,780.25 | 2,850,875.89 |
| Licence cost net of vendor incentives | 66,261.34 | 72,504.53 | 73,383.62 | 73,474.32 | 73,891.95 | 74,721.38 | 74,854.67 | 75,319.88 | 75,679.74 | 75,808.38 | 76,112.51 | 75,932.92 | 887,945.24 |
| Service tooling (EUR) | 20,475.95 | 20,702.78 | 20,263.55 | 19,567.52 | 19,489.64 | 19,329.54 | 19,082.25 | 19,180.23 | 19,184.06 | 19,376.08 | 19,533.18 | 19,311.67 | 235,496.45 |
| Colocation and backup storage | 8,795.4 | 8,810.7 | 8,828.7 | 8,830.5 | 8,830.5 | 8,843.1 | 8,843.1 | 8,843.1 | 8,853 | 8,853.9 | 8,855.7 | 8,856.6 | 106,044.3 |
| Field vans | 5,491.35 | 5,707.62 | 5,570.57 | 5,739.64 | 5,436.25 | 5,531.08 | 5,431.76 | 5,484.11 | 5,443.49 | 5,449.36 | 5,706.64 | 5,574.8 | 66,566.67 |
| Subcontractors | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 46,800 |
| Service delivery payroll | 107,133.9 | 106,242.93 | 106,242.93 | 102,679.05 | 105,351.96 | 102,679.05 | 98,224.2 | 91,096.43 | 103,570.02 | 106,242.93 | 107,133.9 | 102,679.05 | 1,239,276.35 |
| Project team payroll | 42,618.03 | 42,264.83 | 42,264.83 | 40,852.05 | 41,911.64 | 40,852.05 | 39,086.07 | 36,260.5 | 41,205.24 | 42,264.83 | 42,618.03 | 40,852.05 | 493,050.15 |
| Cost of revenue | 456,641.13 | 472,080.96 | 507,497.85 | 482,037.89 | 496,526.45 | 533,714.81 | 471,892.87 | 385,821.26 | 538,936.22 | 567,213.12 | 519,805.15 | 493,887.34 | 5,926,055.05 |
| Gross profit | 172,521.56 | 182,057.64 | 203,738.43 | 200,662.82 | 195,388.1 | 224,807.01 | 201,597.98 | 160,653.24 | 225,881.95 | 237,652.68 | 228,133 | 230,523.38 | 2,463,617.79 |
| Sales and marketing payroll incl. commissions | 23,060.92 | 22,943.23 | 23,144.15 | 22,300.91 | 22,908.83 | 22,599.84 | 21,364.49 | 19,467.32 | 22,805.75 | 23,482.28 | 23,374.55 | 22,354.82 | 269,807.09 |
| General and administrative payroll | 33,500.69 | 33,223.18 | 33,223.18 | 32,113.13 | 32,945.67 | 32,113.13 | 30,725.57 | 28,505.47 | 32,390.64 | 33,223.18 | 33,500.69 | 32,113.13 | 387,577.66 |
| Overheads | 37,104.05 | 37,353.19 | 44,927.43 | 37,690.59 | 43,553.57 | 37,420.87 | 37,536.59 | 35,134.83 | 37,479.53 | 42,199.61 | 38,143.74 | 37,467.66 | 466,011.66 |
| EBITDA | 78,855.9 | 88,538.04 | 102,443.67 | 108,558.19 | 95,980.03 | 132,673.17 | 111,971.33 | 77,545.62 | 133,206.03 | 138,747.61 | 133,114.02 | 138,587.77 | 1,340,221.38 |
| Depreciation and amortisation | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 111,200.04 |
| Interest on the bank loan | 6,304.17 | 6,180.56 | 6,056.94 | 5,933.33 | 5,809.72 | 5,686.11 | 5,562.5 | 5,438.89 | 5,315.28 | 5,191.67 | 5,068.06 | 4,944.44 | 67,491.67 |
| Exchange differences | 0 | 116.02 | 754.78 | 735.44 | 111.04 | 402.79 | 266.51 | -75.47 | 165.12 | -166.59 | -115.63 | 243.58 | 2,437.59 |
| Profit before tax | 63,285.06 | 73,206.83 | 87,874.84 | 94,093.63 | 81,014.68 | 118,123.18 | 97,408.67 | 62,764.59 | 118,789.2 | 124,122.68 | 118,663.66 | 124,620.24 | 1,163,967.26 |
| Managed users at month end | 3,460 | 3,540 | 3,613 | 3,623 | 3,633 | 3,695 | 3,701 | 3,708 | 3,751 | 3,758 | 3,769 | 3,775 | |
| Managed devices at month end | 1,106 | 1,123 | 1,143 | 1,145 | 1,145 | 1,159 | 1,159 | 1,159 | 1,170 | 1,171 | 1,173 | 1,174 | |
| Managed service fees a month (MRR) | 198,180.03 | 203,256.83 | 208,618.07 | 209,706.43 | 210,578.13 | 214,324.84 | 214,973.11 | 216,129.73 | 219,101.62 | 220,060.95 | 220,925.5 | 221,378 | 2,557,233.24 |
| Tickets | 1,780 | 1,738 | 1,695 | 1,654 | 1,705 | 1,698 | 1,706 | 1,550 | 1,883 | 1,841 | 1,890 | 1,671 | 20,811 |
| Service desk utilisation | 0.76 | 0.77 | 0.76 | 0.78 | 0.77 | 0.8 | 0.84 | 0.87 | 0.84 | 0.81 | 0.81 | 0.8 | 0.8008 |
| SLA attainment | 0.98 | 0.98 | 0.98 | 0.98 | 0.98 | 0.98 | 0.96 | 0.94 | 0.96 | 0.98 | 0.98 | 0.98 | 0.9733 |
| SLA credits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,964.77 | 0 | 0 | 0 | 0 | 1,964.77 |
| Service desk FTE | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | |
| Headcount | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | |
| Annual licence billings | 228,000 | 12,000 | 18,000 | 14,000 | 9,000 | 16,000 | 11,000 | 6,000 | 22,000 | 15,000 | 12,000 | 25,000 | 388,000 |
| Licences resold as agent: gross billing | 52,000 | 55,000 | 71,000 | 58,000 | 60,000 | 64,000 | 57,000 | 41,000 | 66,000 | 72,000 | 78,000 | 96,000 | 770,000 |
| Hardware purchases | 184,753.5 | 236,817.27 | 256,493.92 | 225,167.71 | 247,739.63 | 308,535.43 | 197,807.35 | 107,639.59 | 352,453.12 | 321,214.25 | 247,632.34 | 215,669.89 | 2,901,924 |
| Rebates and incentives accrued | 12,669.48 | 9,164.74 | 10,247.72 | 9,026.23 | 9,539.02 | 11,353.35 | 8,283.93 | 5,501.8 | 12,669.19 | 11,885 | 10,141.68 | 10,116.62 | 120,598.76 |
| Corporate income tax paid (FY2024 balance in May, payments on account in July, September and December) | 0 | 0 | 0 | 0 | 21,450 | 0 | 47,500 | 0 | 47,500 | 0 | 0 | 47,500 | 163,950 |
| Capex | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 31,200 |
| Loan principal repaid | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 399,999.96 |
| contract | values | fy2025 |
|---|---|---|
| C01 Brevanor Têxteis, S.A. | [21519.52, 21519.52, 22096, 22211.5, 22288.5, 22442.5, 22404, 22365.5, 22365.5, 22327, 22365.5, 22250] | 266,155.04 |
| C02 Clínicas Almedra, Lda | [14450.74, 14579.52, 14622.44, 15032, 15076, 15178, 15266, 15266, 15266, 15310, 15456, 15500] | 181,002.7 |
| C03 Solvinha Calçado, Lda | [7814.64, 7814.64, 7814.64, 7814.64, 7853.66, 7853.66, 7853.66, 7853.66, 7853.66, 8050, 8050, 8090] | 94,716.86 |
| C04 Valcorra Advogados | [6263.42, 6263.42, 6420, 6472, 6472, 6472, 6472, 6524, 6524, 6472, 6524, 6524] | 77,402.84 |
| C05 Colégios Maravel | [12496.59, 12553.17, 12553.17, 12628.3, 12553.17, 12628.3, 12609.76, 12983, 12983, 13012, 13041, 13070] | 153,111.46 |
| C06 Metalúrgica Vaurinho, Lda | [7178, 7178, 7238, 7238, 7238, 7279, 7279, 7320, 7279, 7320, 7320, 7320] | 87,187 |
| C07 Quintas Delvara, S.A. | [5458.54, 5550, 5595, 5595, 5595, 5595, 5595, 5595, 5640, 5640, 5640, 5685] | 67,183.54 |
| C08 Farmácias Oliveda | [10623, 10701, 10746, 10785, 10908, 10908, 10908, 10908, 10947, 10986, 11070, 11070] | 130,560 |
| C09 Moldivel Plásticos, S.A. | [7894.64, 7872.2, 7911.22, 8011.71, 8011.71, 8011.71, 8315, 8315, 8355, 8395, 8435, 8435] | 97,963.19 |
| C10 Pravel Contabilidade, Lda | [3648.78, 3648.78, 3648.78, 3648.78, 3697.56, 3697.56, 3697.56, 3746.34, 3746.34, 3790, 3840, 3840] | 44,650.48 |
| C11 Hotéis Alvenosa | [7526.83, 7562.93, 7649.76, 7649.76, 7649.76, 7649.76, 7649.76, 7841, 7841, 7841, 7841, 7930] | 92,632.56 |
| C12 Cerâmicas Lovredo, S.A. | [6502.44, 6502.44, 6462.44, 6462.44, 6502.44, 6502.44, 6502.44, 6502.44, 6502.44, 6542.44, 6706, 6706] | 78,396.4 |
| C13 Castelvi Imobiliária | [0, 0, 4186, 4186, 4233, 4233, 4233, 4233, 4233, 4233, 4280, 4280] | 42,330 |
| C14 Agrícola Vinhedal | [4894.64, 4894.64, 4894.64, 4932.68, 5017, 5056, 5056, 5056, 5095, 5095, 5134, 5134] | 60,259.6 |
| C15 Engenharia Morvelo, Lda | [4855.61, 4903.42, 4903.42, 4903.42, 5026, 5026, 5026, 5026, 5075, 5075, 5075, 5075] | 59,969.87 |
| C16 Cooperativa Leiteira Bravanha | [8511.22, 8490.73, 8490.73, 8490.73, 8490.73, 8546.34, 8546.34, 8581.47, 8546.34, 8724, 8724, 8724] | 102,866.63 |
| C17 Laboratórios Cendral, Lda | [7701.47, 7746.34, 7746.34, 7746.34, 7746.34, 7746.34, 7791.22, 8032, 8032, 8100, 8146, 8146] | 94,680.39 |
| C18 Mediavir Seguros | [0, 0, 0, 0, 0, 3242, 3242, 3242, 3290, 3290, 3242, 3290] | 22,838 |
| C19 Construtora Arvedo, S.A. | [7504.39, 7654, 7714, 7714, 7714, 7752, 7752, 7752, 7790, 7790, 7790, 7790] | 92,716.39 |
| C20 Distribuidora Pellano, Lda | [7078, 7117, 7117, 7078, 7117, 7156, 7156, 7156, 7117, 7156, 7195, 7195] | 85,638 |
| C21 Gráfica Tornavel, Lda | [4068.29, 4109.27, 4068.29, 4109.27, 4109.27, 4068.29, 4170, 4170, 4170, 4170, 4170, 4170] | 49,552.68 |
| C22 Óticas Lumarel | [5352.2, 5388.29, 5388.29, 5424.39, 5424.39, 5467.32, 5503.42, 5460.49, 5539.51, 5539.51, 5678, 5715] | 65,880.81 |
| C23 Salmeira Arquitetos | [0, 0, 0, 0, 0, 0, 0, 0, 2728, 2728, 2728, 2728] | 10,912 |
| C24 Traslovia Transportes, Lda | [8048.78, 8010.73, 8048.78, 8048.78, 8250, 8250, 8250, 8250, 8211, 8250, 8250, 8250] | 98,118.07 |
| C25 Conservas Brelmar, S.L. | [8600, 8558.05, 8662.44, 8836, 8793, 8793, 8793, 8793, 8814, 8900, 8900, 8900] | 105,342.49 |
| C26 Talleres Brañoso, S.L. | [5923.9, 5923.9, 5966.83, 5966.83, 6009.76, 6009.76, 6052.68, 6204, 6204, 6204, 6204, 6204] | 72,873.66 |
| C27 Clínica Veigadal, S.L. | [0, 4348, 4348, 4395, 4395, 4395, 4395, 4442, 4442, 4442, 4442, 4442] | 48,486 |
| C28 Maderas Ouriñal, S.L. | [4789.27, 4789.27, 4789.27, 4789.27, 4829.27, 4829.27, 4829.27, 4886.83, 4886.83, 5009, 5009, 5050] | 58,486.55 |
| C29 Pesqueras Morazal, S.L. | [5982.44, 6040.98, 6000, 6000, 6040.98, 6000, 6000, 6000, 6000, 6000, 6000, 6150] | 72,214.4 |
| C30 Bodegas Quenlla, S.L. | [3492.68, 3536.59, 3536.59, 3536.59, 3536.59, 3536.59, 3625, 3625, 3625, 3670, 3670, 3715] | 43,105.63 |
| C31 Ferroval Automação, Lda | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| C32 Clínica Dentária Rosmel | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| C33 Mobiliário Tarvela, Lda | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P01 Grupo Hospitalar Venara | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P02 Exportadora Linhelo, S.A. | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P03 Logística Crastova, Lda | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P04 Conservas Galmira, S.L. | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
Receivables & payables
Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| Measure | Value |
|---|---|
| as at | 2026-08-31 |
| Counterparty (fictional) | Item / document | Group | Amount (EUR) | Due date | Days past due | Not yet due | 1 to 30 | 31 to 60 | 61 to 90 | Over 90 | Action / note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Brevanor Têxteis, S.A. | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 36,978.38 | 2026-09-14 | 0 | 36,978.38 | 0 | 0 | 0 | 0 | 45-day terms. |
| Cerâmicas Lovredo, S.A. | July invoice: hardware (incl. 23% VAT) | Portugal | 14,404.46 | 2026-09-14 | 0 | 14,404.46 | 0 | 0 | 0 | 0 | 45-day terms; EUR 14,885.90 received on 28-Aug-26, balance due. |
| Farmácias Oliveda | July invoice: hardware (incl. 23% VAT) | Portugal | 37,915.8 | 2026-09-14 | 0 | 37,915.8 | 0 | 0 | 0 | 0 | 45-day terms. |
| Moldivel Plásticos, S.A. | July invoice: hardware (incl. 23% VAT) | Portugal | 37,246.43 | 2026-09-14 | 0 | 37,246.43 | 0 | 0 | 0 | 0 | 45-day terms. |
| Construtora Arvedo, S.A. | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,915.93 | 2026-09-29 | 0 | 12,915.93 | 0 | 0 | 0 | 0 | 60-day terms. |
| Construtora Arvedo, S.A. | July invoice: project time and materials (J05 Construction site connectivity) (incl. 23% VAT) | Portugal | 10,036.8 | 2026-09-29 | 0 | 10,036.8 | 0 | 0 | 0 | 0 | 60-day terms. |
| Cooperativa Leiteira Bravanha | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 14,048.25 | 2026-09-29 | 0 | 14,048.25 | 0 | 0 | 0 | 0 | 60-day terms. |
| Moldivel Plásticos, S.A. | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 13,617.7 | 2026-09-29 | 0 | 13,617.7 | 0 | 0 | 0 | 0 | 60-day terms. |
| Castelvi Imobiliária | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 6,718.12 | 2026-09-30 | 0 | 6,718.12 | 0 | 0 | 0 | 0 | 30-day terms. |
| Clínica Dentária Rosmel | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 6,448.07 | 2026-09-30 | 0 | 6,448.07 | 0 | 0 | 0 | 0 | 30-day terms. |
| Clínicas Almedra, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 24,860.44 | 2026-09-30 | 0 | 24,860.44 | 0 | 0 | 0 | 0 | 30-day terms. |
| Colégios Maravel | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 22,703.18 | 2026-09-30 | 0 | 22,703.18 | 0 | 0 | 0 | 0 | 30-day terms. |
| Engenharia Morvelo, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 7,946.14 | 2026-09-30 | 0 | 7,946.14 | 0 | 0 | 0 | 0 | 30-day terms. |
| Engenharia Morvelo, Lda | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 8,345.78 | 2026-09-30 | 0 | 8,345.78 | 0 | 0 | 0 | 0 | 30-day terms. |
| Farmácias Oliveda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 17,547.52 | 2026-09-30 | 0 | 17,547.52 | 0 | 0 | 0 | 0 | 30-day terms. |
| Ferroval Automação, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,016.01 | 2026-09-30 | 0 | 8,016.01 | 0 | 0 | 0 | 0 | 30-day terms. |
| Hotéis Alvenosa | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,455.79 | 2026-09-30 | 0 | 12,455.79 | 0 | 0 | 0 | 0 | 30-day terms. |
| Laboratórios Cendral, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,649.23 | 2026-09-30 | 0 | 12,649.23 | 0 | 0 | 0 | 0 | 30-day terms. |
| Laboratórios Cendral, Lda | August invoice: annual security and backup licences (incl. 23% VAT) | Portugal | 6,927.36 | 2026-09-30 | 0 | 6,927.36 | 0 | 0 | 0 | 0 | 30-day terms. |
| Laboratórios Cendral, Lda | August invoice: project time and materials (J09 Backup and disaster recovery) (incl. 23% VAT) | Portugal | 4,565.76 | 2026-09-30 | 0 | 4,565.76 | 0 | 0 | 0 | 0 | 30-day terms. |
| Mediavir Seguros | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 5,208.89 | 2026-09-30 | 0 | 5,208.89 | 0 | 0 | 0 | 0 | 30-day terms. |
| Mobiliário Tarvela, Lda | August invoice: project milestone (J10 Onboarding and migration) (incl. 23% VAT) | Portugal | 17,712 | 2026-09-30 | 0 | 17,712 | 0 | 0 | 0 | 0 | 30-day terms. |
| Pravel Contabilidade, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 5,860.64 | 2026-09-30 | 0 | 5,860.64 | 0 | 0 | 0 | 0 | 30-day terms. |
| Pravel Contabilidade, Lda | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 14,312.49 | 2026-09-30 | 0 | 14,312.49 | 0 | 0 | 0 | 0 | 30-day terms. |
| Quintas Delvara, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,950.12 | 2026-09-30 | 0 | 8,950.12 | 0 | 0 | 0 | 0 | 30-day terms. |
| Quintas Delvara, S.A. | August invoice: project milestone (J07 Productivity suite tenant migration) (incl. 23% VAT) | Portugal | 18,696 | 2026-09-30 | 0 | 18,696 | 0 | 0 | 0 | 0 | 30-day terms. |
| Salmeira Arquitetos | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 4,132.79 | 2026-09-30 | 0 | 4,132.79 | 0 | 0 | 0 | 0 | 30-day terms. |
| Salmeira Arquitetos | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 12,700.57 | 2026-09-30 | 0 | 12,700.57 | 0 | 0 | 0 | 0 | 30-day terms. |
| Valcorra Advogados | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 9,958.27 | 2026-09-30 | 0 | 9,958.27 | 0 | 0 | 0 | 0 | 30-day terms. |
| Valcorra Advogados | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 6,707.15 | 2026-09-30 | 0 | 6,707.15 | 0 | 0 | 0 | 0 | 30-day terms. |
| Óticas Lumarel | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,906.36 | 2026-09-30 | 0 | 8,906.36 | 0 | 0 | 0 | 0 | 30-day terms. |
| Agrícola Vinhedal | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,230.87 | 2026-10-15 | 0 | 8,230.87 | 0 | 0 | 0 | 0 | 45-day terms. |
| Brevanor Têxteis, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 36,138.5 | 2026-10-15 | 0 | 36,138.5 | 0 | 0 | 0 | 0 | 45-day terms. |
| Cerâmicas Lovredo, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 10,276.26 | 2026-10-15 | 0 | 10,276.26 | 0 | 0 | 0 | 0 | 45-day terms. |
| Cerâmicas Lovredo, S.A. | August invoice: hardware (incl. 23% VAT) | Portugal | 16,607.88 | 2026-10-15 | 0 | 16,607.88 | 0 | 0 | 0 | 0 | 45-day terms. |
| Clínicas Almedra, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 11,831.09 | 2026-10-15 | 0 | 11,831.09 | 0 | 0 | 0 | 0 | 45-day terms. |
| Colégios Maravel | August invoice: hardware (incl. 23% VAT) | Portugal | 24,686.58 | 2026-10-15 | 0 | 24,686.58 | 0 | 0 | 0 | 0 | 45-day terms. |
| Distribuidora Pellano, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 11,524.35 | 2026-10-15 | 0 | 11,524.35 | 0 | 0 | 0 | 0 | 45-day terms. |
| Distribuidora Pellano, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 14,571.43 | 2026-10-15 | 0 | 14,571.43 | 0 | 0 | 0 | 0 | 45-day terms. |
| Farmácias Oliveda | August invoice: hardware (incl. 23% VAT) | Portugal | 13,413.05 | 2026-10-15 | 0 | 13,413.05 | 0 | 0 | 0 | 0 | 45-day terms. |
| Ferroval Automação, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 13,057.53 | 2026-10-15 | 0 | 13,057.53 | 0 | 0 | 0 | 0 | 45-day terms. |
| Gráfica Tornavel, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 6,401.07 | 2026-10-15 | 0 | 6,401.07 | 0 | 0 | 0 | 0 | 45-day terms. |
| Metalúrgica Vaurinho, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 11,504.02 | 2026-10-15 | 0 | 11,504.02 | 0 | 0 | 0 | 0 | 45-day terms. |
| Mobiliário Tarvela, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 9,886.95 | 2026-10-15 | 0 | 9,886.95 | 0 | 0 | 0 | 0 | 45-day terms. |
| Mobiliário Tarvela, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 10,900.24 | 2026-10-15 | 0 | 10,900.24 | 0 | 0 | 0 | 0 | 45-day terms. |
| Moldivel Plásticos, S.A. | August invoice: hardware (incl. 23% VAT) | Portugal | 25,902.61 | 2026-10-15 | 0 | 25,902.61 | 0 | 0 | 0 | 0 | 45-day terms. |
| Solvinha Calçado, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,888.41 | 2026-10-15 | 0 | 12,888.41 | 0 | 0 | 0 | 0 | 45-day terms. |
| Construtora Arvedo, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,596.65 | 2026-10-30 | 0 | 12,596.65 | 0 | 0 | 0 | 0 | 60-day terms. |
| Construtora Arvedo, S.A. | August invoice: project time and materials (J05 Construction site connectivity) (incl. 23% VAT) | Portugal | 7,084.8 | 2026-10-30 | 0 | 7,084.8 | 0 | 0 | 0 | 0 | 60-day terms. |
| Cooperativa Leiteira Bravanha | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 13,769.35 | 2026-10-30 | 0 | 13,769.35 | 0 | 0 | 0 | 0 | 60-day terms. |
| Moldivel Plásticos, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 13,341.15 | 2026-10-30 | 0 | 13,341.15 | 0 | 0 | 0 | 0 | 60-day terms. |
| Talleres Brañoso, S.L. | June invoice: project J11 ERP hosting move, final milestone (30%) | Spain | 21,600 | 2026-07-30 | 32 | 0 | 0 | 21,600 | 0 | 0 | Disputed: the customer is withholding payment until the performance acceptance test is signed off. Test rerun booked for September; no credit expected. |
| Clínica Veigadal, S.L. | July invoice: managed services and licences | Spain | 3,903.24 | 2026-09-14 | 0 | 3,903.24 | 0 | 0 | 0 | 0 | 45-day terms; EUR 1,928.97 received on 28-Aug-26, balance due. |
| Conservas Brelmar, S.L. | July invoice: managed services and licences | Spain | 11,673.72 | 2026-09-29 | 0 | 11,673.72 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | July invoice: hardware (intra-EU supply, exempt) | Spain | 10,878.21 | 2026-09-29 | 0 | 10,878.21 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | July invoice: project time and materials (J04 Security hardening and SOC onboarding) | Spain | 7,072 | 2026-09-29 | 0 | 7,072 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | July invoice: hardware (intra-EU supply, exempt) | Spain | 12,641.79 | 2026-09-29 | 0 | 12,641.79 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | July invoice: managed services and licences | Spain | 6,418.97 | 2026-09-29 | 0 | 6,418.97 | 0 | 0 | 0 | 0 | 60-day terms. |
| Pesqueras Morazal, S.L. | July invoice: managed services and licences | Spain | 7,645.06 | 2026-09-29 | 0 | 7,645.06 | 0 | 0 | 0 | 0 | 60-day terms. |
| Talleres Brañoso, S.L. | July invoice: managed services and licences | Spain | 7,731.08 | 2026-09-29 | 0 | 7,731.08 | 0 | 0 | 0 | 0 | 60-day terms. |
| Bodegas Quenlla, S.L. | August invoice: managed services and licences | Spain | 4,647.03 | 2026-10-15 | 0 | 4,647.03 | 0 | 0 | 0 | 0 | 45-day terms. |
| Bodegas Quenlla, S.L. | August invoice: annual security and backup licences | Spain | 768 | 2026-10-15 | 0 | 768 | 0 | 0 | 0 | 0 | 45-day terms. |
| Clínica Veigadal, S.L. | August invoice: managed services and licences | Spain | 5,749.05 | 2026-10-15 | 0 | 5,749.05 | 0 | 0 | 0 | 0 | 45-day terms. |
| Clínica Veigadal, S.L. | August invoice: software licences resold as agent, gross | Spain | 3,800 | 2026-10-15 | 0 | 3,800 | 0 | 0 | 0 | 0 | 45-day terms. |
| Conservas Brelmar, S.L. | August invoice: managed services and licences | Spain | 11,434.57 | 2026-10-30 | 0 | 11,434.57 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | August invoice: hardware (intra-EU supply, exempt) | Spain | 5,492.21 | 2026-10-30 | 0 | 5,492.21 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | August invoice: project time and materials (J04 Security hardening and SOC onboarding) | Spain | 4,896 | 2026-10-30 | 0 | 4,896 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | August invoice: managed services and licences | Spain | 6,197.72 | 2026-10-30 | 0 | 6,197.72 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | August invoice: hardware (intra-EU supply, exempt) | Spain | 9,027.79 | 2026-10-30 | 0 | 9,027.79 | 0 | 0 | 0 | 0 | 60-day terms. |
| Pesqueras Morazal, S.L. | August invoice: managed services and licences | Spain | 7,509.92 | 2026-10-30 | 0 | 7,509.92 | 0 | 0 | 0 | 0 | 60-day terms. |
| Talleres Brañoso, S.L. | August invoice: managed services and licences | Spain | 7,756.56 | 2026-10-30 | 0 | 7,756.56 | 0 | 0 | 0 | 0 | 60-day terms. |
| Value |
|---|
| TOTAL |
| 870,948.14 |
| 849,348.14 |
| 0 |
| 21,600 |
| 0 |
| 0 |
| label | values |
|---|---|
| Customers in Portugal: aging vs ledger | [null, null, 714105.22, "Ledger balance", 714105.2217, "Difference", 0, null] |
| Customers in Spain: aging vs ledger | [null, null, 156842.92, "Ledger balance", 156842.9203, "Difference", 0, null] |
| Measure | Value |
|---|---|
| as at | 2026-08-31 |
| Counterparty (fictional) | Item / document | Group | Amount (EUR) | Due date | Days past due | Not yet due | 1 to 30 | 31 to 60 | 61 to 90 | Over 90 | Action / note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Hardware distributor A (laptops and desktops) | August invoices: hardware purchases (incl. 23% VAT) | Hardware distributors | 61,729.02 | 2026-09-30 | 0 | 61,729.02 | 0 | 0 | 0 | 0 | Paid by transfer at 30 days. |
| Hardware distributor B (servers and networking) | August invoices: hardware purchases (incl. 23% VAT) | Hardware distributors | 37,833.92 | 2026-09-30 | 0 | 37,833.92 | 0 | 0 | 0 | 0 | Paid by transfer at 30 days. |
| Licence distributor | August invoice: bundled, annual and resold licences (incl. 23% VAT) | Licence distributor | 118,786.57 | 2026-09-30 | 0 | 118,786.57 | 0 | 0 | 0 | 0 | Paid by transfer at 30 days. |
| Service tooling vendor (USD) | August invoice: RMM, PSA, endpoint security and backup platforms (USD 23,442 at the August average rate) | Tooling vendor (USD) | 20,113.03 | 2026-09-15 | 0 | 20,113.03 | 0 | 0 | 0 | 0 | Paid by wire on the 15th; reverse charge. |
| Colocation and backup storage provider | August invoice: rack space, power and backup storage (incl. 23% VAT) | Other suppliers | 10,950.08 | 2026-09-30 | 0 | 10,950.08 | 0 | 0 | 0 | 0 | 30-day terms. |
| Specialist ERP data migration subcontractor | August invoice: J01 subcontract hours (incl. 23% VAT) | Other suppliers | 12,103.2 | 2026-09-30 | 0 | 12,103.2 | 0 | 0 | 0 | 0 | 30-day terms. |
| Cabling and electrical subcontractor | August invoice: site cabling (incl. 23% VAT) | Other suppliers | 1,845 | 2026-09-30 | 0 | 1,845 | 0 | 0 | 0 | 0 | 30-day terms. |
| Statutory auditor and legal advisers | August invoices: fees (incl. 23% VAT) | Other suppliers | 4,956.3 | 2026-09-30 | 0 | 4,956.3 | 0 | 0 | 0 | 0 | 30-day terms. |
| Marketing agency | August invoice: campaigns and events (incl. 23% VAT) | Other suppliers | 3,968.56 | 2026-09-30 | 0 | 3,968.56 | 0 | 0 | 0 | 0 | 30-day terms. |
| Training provider | August invoice: certifications (incl. 23% VAT) | Other suppliers | 4,688.93 | 2026-09-30 | 0 | 4,688.93 | 0 | 0 | 0 | 0 | 30-day terms. |
| Recruitment agency and job boards | August invoice (incl. 23% VAT) | Other suppliers | 489.02 | 2026-09-30 | 0 | 489.02 | 0 | 0 | 0 | 0 | 30-day terms. |
| Office services | August invoice: cleaning, utilities and supplies (incl. 23% VAT) | Other suppliers | 3,406.62 | 2026-09-30 | 0 | 3,406.62 | 0 | 0 | 0 | 0 | 30-day terms. |
| Occupational health provider | August invoice (VAT exempt) | Other suppliers | 447.76 | 2026-09-30 | 0 | 447.76 | 0 | 0 | 0 | 0 | 30-day terms. |
| IT equipment reseller | August invoice: laptops and replacements (incl. 23% VAT) | Other suppliers | 2,214 | 2026-09-30 | 0 | 2,214 | 0 | 0 | 0 | 0 | 30-day terms. |
| Value |
|---|
| TOTAL |
| 283,532.01 |
| 283,532.01 |
| 0 |
| 0 |
| 0 |
| 0 |
| label | values |
|---|---|
| Hardware distributors: aging vs schedule | [null, null, 99562.94, "Ledger balance", 99562.9463, "Difference", 0, null] |
| Licence distributor: aging vs schedule | [null, null, 118786.57, "Ledger balance", 118786.577, "Difference", 0, null] |
| Tooling vendor (USD): aging vs schedule | [null, null, 20113.03, "Ledger balance", 20113.033, "Difference", 0, null] |
| Other suppliers: aging vs schedule | [null, null, 45069.47, "Ledger balance", 45069.4557, "Difference", 0, null] |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed service fees | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | Contracts | 187,820.28 | 188,649.32 | 194,990.64 | 195,977.85 | 192,643.71 | 193,175.21 | 200,084.98 | 201,384.22 | 201,873.7883 | 201,505.4788 | 216,082.6775 | 216,527.2794 | 220,955.7304 | 225,280.4448 | 224,543.6349 | 225,510.3887 | 226,097.9508 | 226,671.5849 | 227,736.6527 | 227,681.3822 | 228,242.0238 | 229,116.1291 | 230,030.3809 | 230,507.0613 | 2,390,715.434 | 2,722,373.3646 |
| Bundled licences | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | licences x share of users in Portugal | 56,576.3422 | 57,042.4949 | 58,369.5073 | 58,423.3464 | 57,173.7785 | 57,371.8855 | 59,352.4945 | 59,386.4429 | 59,592.5068 | 59,291.3048 | 63,894.4337 | 64,047.2079 | 67,040.8572 | 68,220.1408 | 67,610.129 | 67,772.5464 | 67,849.1248 | 68,012.1883 | 68,175.7056 | 67,823.5847 | 67,986.7576 | 68,094.0916 | 68,148.8061 | 68,312.9063 | 710,521.7454 | 815,046.8383 |
| SLA credits of the prior month | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | credited x prior share of fees in Portugal | 0 | 0 | 0 | -2,744.9787 | -4,105.5586 | -4,601.5721 | -3,232.1069 | -9,616.8862 | -7,648.0094 | -7,070.1856 | -547.8423 | -7,868.5319 | -392.4728 | -920.589 | -1,484.2557 | 0 | 0 | 0 | 0 | 0 | -1,206.2283 | 0 | 0 | 0 | -47,435.6718 | -4,003.5457 |
| Onboarding fees | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | Contracts | 0 | 0 | 3,600 | 0 | 2,970 | 0 | 4,860 | 0 | 0 | 0 | 11,880 | 0 | 2,700 | 2,835 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23,310 | 5,535 |
| Annual licences | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | billed x share in Portugal | 214,280 | 11,528 | 16,896 | 13,112 | 8,448 | 15,224 | 10,208 | 5,632 | 20,134.4 | 13,728 | 10,982.4 | 22,880 | 222,851.2 | 11,989.12 | 17,571.84 | 13,636.48 | 8,785.92 | 15,832.96 | 10,616.32 | 5,857.28 | 20,939.776 | 14,277.12 | 11,421.696 | 23,795.2 | 363,052.8 | 377,574.912 |
| Licences resold as agent (gross) | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | gross x share in Portugal | 44,100 | 48,600 | 59,400 | 51,300 | 52,200 | 54,900 | 49,500 | 34,200 | 54,987.3 | 58,584.6 | 62,695.8 | 67,834.8 | 42,139.8 | 45,223.2 | 55,501.2 | 47,792.7 | 49,334.4 | 52,417.8 | 47,278.8 | 32,889.6 | 54,987.3 | 58,584.6 | 62,695.8 | 67,834.8 | 638,302.5 | 616,680 |
| Hardware | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | revenue - Spain | 163,680 | 173,360 | 197,120 | 176,880 | 186,560 | 209,440 | 172,480 | 106,480 | 215,987.2 | 234,291.2 | 195,852.8 | 179,379.2 | 161,075.2 | 168,396.8 | 192,192 | 173,888 | 183,040 | 205,004.8 | 168,396.8 | 109,824 | 215,987.2 | 234,291.2 | 195,852.8 | 179,379.2 | 2,211,510.4 | 2,187,328 |
| Projects | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | Projects | 32,112 | 39,248 | 39,080 | 108,536 | 51,304 | 34,952 | 46,880 | 39,072 | 63,114 | 61,823.6238 | 139,833.6238 | 67,542.1 | 84,115 | 75,735 | 81,090 | 78,030 | 74,205 | 84,150 | 71,145 | 45,900 | 80,325 | 88,740 | 84,150 | 80,325 | 723,497.3476 | 927,910 |
| INVOICED IN PORTUGAL, EX VAT | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | 698,568.6222 | 518,427.8149 | 569,456.1473 | 601,484.2177 | 547,193.9299 | 560,461.5234 | 540,133.3676 | 436,537.7767 | 608,041.1857 | 622,154.0218 | 700,673.8926 | 610,342.0554 | 800,485.3148 | 596,759.1166 | 637,024.5483 | 606,630.1151 | 609,312.3955 | 652,089.3332 | 593,349.2783 | 489,975.8469 | 667,261.8291 | 693,103.1407 | 652,299.4829 | 650,154.1677 | 7,013,474.5552 | 7,648,444.5692 | |
| Output VAT (23%) | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | 160,670.7831 | 119,238.3974 | 130,974.9139 | 138,341.3701 | 125,854.6039 | 128,906.1504 | 124,230.6746 | 100,403.6886 | 139,849.4727 | 143,095.425 | 161,154.9953 | 140,378.6727 | 184,111.6224 | 137,254.5968 | 146,515.6461 | 139,524.9265 | 140,141.851 | 149,980.5466 | 136,470.334 | 112,694.4448 | 153,470.2207 | 159,413.7224 | 150,028.8811 | 149,535.4586 | 1,613,099.1477 | 1,759,142.2509 | |
| INVOICED IN PORTUGAL, INCL. VAT | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | 859,239.4053 | 637,666.2123 | 700,431.0612 | 739,825.5878 | 673,048.5338 | 689,367.6738 | 664,364.0422 | 536,941.4654 | 747,890.6584 | 765,249.4468 | 861,828.8879 | 750,720.7282 | 984,596.9372 | 734,013.7134 | 783,540.1944 | 746,155.0416 | 749,454.2465 | 802,069.8798 | 729,819.6124 | 602,670.2917 | 820,732.0498 | 852,516.8631 | 802,328.364 | 799,689.6262 | 8,626,573.7029 | 9,407,586.8201 | |
| Managed service fees | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 34,461 | 34,619.49 | 34,860.71 | 35,140.01 | 35,144.12 | 35,144.12 | 35,309.66 | 35,610.59 | 35,664.9146 | 35,871.0907 | 35,925.7436 | 35,402.9577 | 35,457.3386 | 35,655.1218 | 35,710.0831 | 37,952.2925 | 38,011.0983 | 38,070.0145 | 37,963.6189 | 38,220.0047 | 38,279.3018 | 38,496.5677 | 38,556.2184 | 38,785.4326 | 423,154.4067 | 451,157.093 | |
| Bundled licences | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 9,223.4578 | 9,282.7351 | 9,330.0527 | 9,328.2436 | 9,345.8815 | 9,352.5945 | 9,351.2455 | 9,381.3871 | 9,409.0818 | 9,426.1234 | 9,443.1998 | 9,260.8704 | 9,556.1519 | 9,573.6432 | 9,591.1705 | 10,144.0922 | 10,162.7626 | 10,181.4713 | 10,128.2999 | 10,146.9419 | 10,165.6223 | 10,184.3411 | 10,203.0984 | 10,221.8944 | 112,134.8731 | 120,259.4897 | |
| SLA credits of the prior month | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 0 | 0 | 0 | -490.7513 | -736.1514 | -839.4679 | -588.0131 | -1,697.1238 | -1,352.3906 | -1,249.0852 | -97.5244 | -1,308.2162 | -64.1707 | -147.7293 | -234.913 | 0 | 0 | 0 | 0 | 0 | -202.4849 | 0 | 0 | 0 | -8,358.7239 | -649.2979 | |
| Onboarding fees | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,800 | |
| Annual licences | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 29,220 | 1,572 | 2,304 | 1,788 | 1,152 | 2,076 | 1,392 | 768 | 2,745.6 | 1,872 | 1,497.6 | 3,120 | 30,388.8 | 1,634.88 | 2,396.16 | 1,859.52 | 1,198.08 | 2,159.04 | 1,447.68 | 798.72 | 2,855.424 | 1,946.88 | 1,557.504 | 3,244.8 | 49,507.2 | 51,487.488 | |
| Licences resold as agent (gross) | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 4,900 | 5,400 | 6,600 | 5,700 | 5,800 | 6,100 | 5,500 | 3,800 | 6,109.7 | 6,509.4 | 6,966.2 | 7,537.2 | 4,682.2 | 5,024.8 | 6,166.8 | 5,310.3 | 5,481.6 | 5,824.2 | 5,253.2 | 3,654.4 | 6,109.7 | 6,509.4 | 6,966.2 | 7,537.2 | 70,922.5 | 68,520 | |
| Hardware (exempt intra-EU supply) | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | Hardware | 22,320 | 23,640 | 26,880 | 24,120 | 25,440 | 28,560 | 23,520 | 14,520 | 29,452.8 | 31,948.8 | 26,707.2 | 24,460.8 | 21,964.8 | 22,963.2 | 26,208 | 23,712 | 24,960 | 27,955.2 | 22,963.2 | 14,976 | 29,452.8 | 31,948.8 | 26,707.2 | 24,460.8 | 301,569.6 | 298,272 |
| Projects | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 21,600 | 6,460 | 36,824 | 7,616 | 7,480 | 29,488 | 7,072 | 4,896 | 10,404 | 8,348.7571 | 7,538.7571 | 9,357.9 | 10,185 | 13,365 | 14,310 | 13,770 | 13,095 | 14,850 | 12,555 | 8,100 | 14,175 | 15,660 | 14,850 | 14,175 | 157,085.4143 | 159,090 | |
| INVOICED IN SPAIN | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 121,724.4578 | 80,974.2251 | 116,798.7627 | 83,201.5023 | 83,625.8501 | 109,881.2466 | 81,556.8924 | 67,278.8533 | 92,433.7058 | 92,727.086 | 87,981.1762 | 87,831.512 | 112,170.1198 | 88,068.9157 | 94,147.3006 | 94,548.2047 | 92,908.5408 | 99,039.9258 | 90,310.9989 | 75,896.0666 | 100,835.3631 | 104,745.9888 | 98,840.2208 | 98,425.127 | 1,106,015.2702 | 1,149,936.7728 | |
| of which services to Spanish businesses (taxed in Spain; recapitulative statement) | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | memo | 99,404.4578 | 57,334.2251 | 89,918.7627 | 59,081.5023 | 58,185.8501 | 81,321.2466 | 58,036.8924 | 52,758.8533 | 62,980.9058 | 60,778.286 | 61,273.9762 | 63,370.712 | 90,205.3198 | 65,105.7157 | 67,939.3006 | 70,836.2047 | 67,948.5408 | 71,084.7258 | 67,347.7989 | 60,920.0666 | 71,382.5631 | 72,797.1888 | 72,133.0208 | 73,964.327 | 804,445.6702 | 851,664.7728 |
| Receivable per the collection days (forecast rule) | RECEIVABLE: CUSTOMERS IN PORTUGAL (incl. VAT) | invoicing still inside the days | 859,239.4053 | 866,796.7204 | 870,475.3844 | 926,607.2041 | 870,335.3572 | 868,847.2828 | 848,195.4219 | 714,105.2099 | 891,075.0491 | 964,686.9557 | 1,065,895.4071 | 980,541.765 | 1,184,789.1314 | 996,572.8966 | 979,277.1847 | 955,099.0934 | 948,428.9243 | 1,001,924.3455 | 943,704.9136 | 797,288.855 | 981,444.1276 | 1,071,378.743 | 1,029,666.1941 | 1,013,643.8566 | 980,541.765 | 1,013,643.8566 |
| Cash received | RECEIVABLE: CUSTOMERS IN PORTUGAL (incl. VAT) | A: bank; F: opening + invoiced - receivable per the rule | 858,639.12 | 855,237.39 | 696,752.39 | 683,693.77 | 729,320.38 | 690,855.75 | 685,015.9 | 671,031.68 | 570,920.8309 | 691,637.5402 | 760,620.4365 | 836,074.3703 | 780,349.5708 | 922,229.9481 | 800,835.9064 | 770,333.1328 | 756,124.4157 | 748,574.4585 | 788,039.0442 | 749,086.3503 | 636,576.7772 | 762,582.2477 | 844,040.9129 | 815,711.9637 | 8,729,799.558 | 9,374,484.7284 |
| RECEIVABLE: CUSTOMERS IN PORTUGAL | RECEIVABLE: CUSTOMERS IN PORTUGAL (incl. VAT) | opening + invoiced - received | 1,084,367.9053 | 866,796.7276 | 870,475.3987 | 926,607.2165 | 870,335.3704 | 868,847.2941 | 848,195.4363 | 714,105.2217 | 891,075.0491 | 964,686.9557 | 1,065,895.4071 | 980,541.765 | 1,184,789.1314 | 996,572.8966 | 979,277.1847 | 955,099.0934 | 948,428.9243 | 1,001,924.3455 | 943,704.9136 | 797,288.855 | 981,444.1276 | 1,071,378.743 | 1,029,666.1941 | 1,013,643.8566 | 980,541.765 | 1,013,643.8566 |
| Disputed J11 final milestone still open | RECEIVABLE: CUSTOMERS IN SPAIN | A: from June; F: until settled | 0 | 0 | 0 | 0 | 0 | 21,600 | 21,600 | 21,600 | 21,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivable on current invoices per the collection days (forecast rule) | RECEIVABLE: CUSTOMERS IN SPAIN | 121,724.4578 | 182,411.2733 | 184,277.2837 | 180,533.8045 | 152,960.4353 | 179,569.455 | 173,124.5979 | 135,242.9303 | 148,499.4169 | 169,755.1742 | 165,253.7478 | 161,149.1588 | 185,363.0465 | 181,544.0156 | 167,538.0637 | 173,004.2885 | 171,698.7114 | 176,463.7099 | 172,844.2704 | 151,155.2324 | 164,082.0853 | 188,775.4581 | 186,128.5448 | 180,791.9777 | 161,149.1588 | 180,791.9777 | |
| Cash received on current invoices | RECEIVABLE: CUSTOMERS IN SPAIN | A: bank; F: opening current balance + invoiced - receivable per the rule | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 79,177.2092 | 71,471.3287 | 92,482.6025 | 91,936.101 | 87,956.2321 | 91,887.9466 | 108,153.2525 | 89,081.9799 | 94,214.1179 | 94,274.9274 | 93,930.4383 | 97,585.1047 | 87,908.5102 | 80,052.6161 | 101,487.1341 | 103,761.6941 | 1,116,587.5214 | 1,130,293.9538 |
| Disputed milestone collected | RECEIVABLE: CUSTOMERS IN SPAIN | drivers: month and share credited | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,600 | 0 |
| Credit note on the disputed milestone | RECEIVABLE: CUSTOMERS IN SPAIN | 0 | 0 | 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 | RECEIVABLE: CUSTOMERS IN SPAIN | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 79,177.2092 | 93,071.3287 | 92,482.6025 | 91,936.101 | 87,956.2321 | 91,887.9466 | 108,153.2525 | 89,081.9799 | 94,214.1179 | 94,274.9274 | 93,930.4383 | 97,585.1047 | 87,908.5102 | 80,052.6161 | 101,487.1341 | 103,761.6941 | 1,138,187.5214 | 1,130,293.9538 | |
| RECEIVABLE: CUSTOMERS IN SPAIN | RECEIVABLE: CUSTOMERS IN SPAIN | opening + invoiced - received - credit notes | 209,645.7178 | 182,411.273 | 184,277.2757 | 180,533.798 | 152,960.428 | 179,569.4446 | 176,724.587 | 156,842.9203 | 170,099.4169 | 169,755.1742 | 165,253.7478 | 161,149.1588 | 185,363.0465 | 181,544.0156 | 167,538.0637 | 173,004.2885 | 171,698.7114 | 176,463.7099 | 172,844.2704 | 151,155.2324 | 164,082.0853 | 188,775.4581 | 186,128.5448 | 180,791.9777 | 161,149.1588 | 180,791.9777 |
| Customer receivables | TOTALS | 1,294,013.6231 | 1,049,208.0005 | 1,054,752.6744 | 1,107,141.0145 | 1,023,295.7984 | 1,048,416.7387 | 1,024,920.0233 | 870,948.1419 | 1,061,174.466 | 1,134,442.1298 | 1,231,149.1549 | 1,141,690.9237 | 1,370,152.1779 | 1,178,116.9122 | 1,146,815.2484 | 1,128,103.382 | 1,120,127.6357 | 1,178,388.0554 | 1,116,549.184 | 948,444.0874 | 1,145,526.213 | 1,260,154.2011 | 1,215,794.7389 | 1,194,435.8343 | 1,141,690.9237 | 1,194,435.8343 | |
| Invoiced incl. VAT | TOTALS | 980,963.8631 | 718,640.4374 | 817,229.8239 | 823,027.0901 | 756,674.3839 | 799,248.9204 | 745,920.9346 | 604,220.3186 | 840,324.3642 | 857,976.5328 | 949,810.0641 | 838,552.2401 | 1,096,767.057 | 822,082.6291 | 877,687.495 | 840,703.2463 | 842,362.7874 | 901,109.8056 | 820,130.6112 | 678,566.3584 | 921,567.413 | 957,262.8518 | 901,168.5848 | 898,114.7532 | 9,732,588.9731 | 10,557,523.5929 | |
| Debtor days (receivables / invoicing of the last three months x days) | TOTALS | 40.8929 | 36.4222 | 37.7171 | 41.7719 | 39.2766 | 40.1042 | 40.964 | 37.2791 | 44.5695 | 45.328 | 42.3074 | 39.6909 | 43.6909 | 38.4531 | 36.9076 | 39.5207 | 40.2427 | 41.4961 | 40.0696 | 36.36 | 43.5442 | 45.3329 | 39.7976 | 39.8644 | 39.6909 | 39.8644 | |
| TOTAL CASH RECEIVED FROM CUSTOMERS | TOTALS | 964,039.27 | 963,446.06 | 811,685.15 | 770,638.75 | 840,519.6 | 774,127.98 | 769,417.65 | 758,192.2 | 650,098.0401 | 784,708.8689 | 853,103.039 | 928,010.4713 | 868,305.8029 | 1,014,117.8947 | 908,989.1589 | 859,415.1127 | 850,338.5336 | 842,849.3859 | 881,969.4826 | 846,671.455 | 724,485.2874 | 842,634.8637 | 945,528.047 | 919,473.6579 | 9,867,987.0794 | 10,504,778.6823 |
| 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 incl. VAT | HARDWARE DISTRIBUTORS (incl. VAT, 30 days) | purchases x 1.23 | 171,017.478 | 213,959.7546 | 259,420.5792 | 209,385.4092 | 218,285.2587 | 272,849.1534 | 190,772.2128 | 99,562.9404 | 321,225.0624 | 291,670.6286 | 221,144.6188 | 205,969.5324 | 186,246.2381 | 219,206.3529 | 237,413.5779 | 205,053.1741 | 224,939.5898 | 265,715.1379 | 181,333.4059 | 101,615.0264 | 325,647.8532 | 291,670.6286 | 221,144.6188 | 205,969.5324 | 2,675,262.6285 | 2,665,955.136 |
| Paid | HARDWARE DISTRIBUTORS (incl. VAT, 30 days) | A: bank; F: prior balance | 265,273.96 | 171,017.48 | 213,959.75 | 259,420.58 | 209,385.41 | 218,285.26 | 272,849.15 | 190,772.21 | 99,562.9463 | 321,225.0624 | 291,670.6286 | 221,144.6188 | 205,969.5324 | 186,246.2381 | 219,206.3529 | 237,413.5779 | 205,053.1741 | 224,939.5898 | 265,715.1379 | 181,333.4059 | 101,615.0264 | 325,647.8532 | 291,670.6286 | 221,144.6188 | 2,734,567.0561 | 2,665,955.136 |
| Payable: hardware distributors | HARDWARE DISTRIBUTORS (incl. VAT, 30 days) | 171,017.478 | 213,959.7526 | 259,420.5818 | 209,385.411 | 218,285.2597 | 272,849.1531 | 190,772.2159 | 99,562.9463 | 321,225.0624 | 291,670.6286 | 221,144.6188 | 205,969.5324 | 186,246.2381 | 219,206.3529 | 237,413.5779 | 205,053.1741 | 224,939.5898 | 265,715.1379 | 181,333.4059 | 101,615.0264 | 325,647.8532 | 291,670.6286 | 221,144.6188 | 205,969.5324 | 205,969.5324 | 205,969.5324 | |
| Invoices incl. VAT | LICENCE DISTRIBUTOR (incl. VAT, 30 days) | bundled + annual + agent vendor cost x 1.23 | 349,276.4457 | 139,566.9684 | 159,995.6817 | 146,302.4484 | 141,212.0934 | 151,673.022 | 141,778.3239 | 118,786.5735 | 159,519.0123 | 156,769.6441 | 163,621.3376 | 182,444.7759 | 367,204.5356 | 148,183.1233 | 165,929.7367 | 153,168.4023 | 149,979.3391 | 161,383.2693 | 149,740.6936 | 126,935.4066 | 169,873.0626 | 167,277.282 | 169,292.8031 | 188,842.3058 | 2,010,946.327 | 2,117,809.96 |
| Paid | LICENCE DISTRIBUTOR (incl. VAT, 30 days) | A: bank; F: prior balance | 193,719.66 | 349,276.45 | 139,566.97 | 159,995.68 | 146,302.45 | 141,212.09 | 151,673.02 | 141,778.32 | 118,786.577 | 159,519.0123 | 156,769.6441 | 163,621.3376 | 182,444.7759 | 367,204.5356 | 148,183.1233 | 165,929.7367 | 153,168.4023 | 149,979.3391 | 161,383.2693 | 149,740.6936 | 126,935.4066 | 169,873.0626 | 167,277.282 | 169,292.8031 | 2,022,221.2111 | 2,111,412.4302 |
| Payable: licence distributor | LICENCE DISTRIBUTOR (incl. VAT, 30 days) | 349,276.4457 | 139,566.9641 | 159,995.6758 | 146,302.4442 | 141,212.0876 | 151,673.0196 | 141,778.3235 | 118,786.577 | 159,519.0123 | 156,769.6441 | 163,621.3376 | 182,444.7759 | 367,204.5356 | 148,183.1233 | 165,929.7367 | 153,168.4023 | 149,979.3391 | 161,383.2693 | 149,740.6936 | 126,935.4066 | 169,873.0626 | 167,277.282 | 169,292.8031 | 188,842.3058 | 182,444.7759 | 188,842.3058 | |
| Invoices (USD) | SERVICE TOOLING VENDOR IN USD (reverse charge) | Overheads | 22,632.54 | 22,681.16 | 23,112.28 | 23,160.22 | 22,810.7 | 22,847.76 | 23,386.32 | 23,441.74 | 23,479.8095 | 23,399.0332 | 24,648.6189 | 24,632.6656 | 24,923.2772 | 25,254.5762 | 25,103.5301 | 25,294.1795 | 25,315.1966 | 25,358.3801 | 25,381.8743 | 25,289.2548 | 25,332.4361 | 25,361.928 | 25,371.8962 | 25,415.2984 | 280,232.8471 | 303,401.8273 |
| Invoices (EUR at the rate of the month) | SERVICE TOOLING VENDOR IN USD (reverse charge) | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 20,483.1279 | 20,412.6609 | 21,502.7645 | 21,488.8472 | 21,742.3686 | 22,031.3846 | 21,899.6162 | 22,065.9334 | 22,084.2682 | 22,121.9403 | 22,142.4359 | 22,061.6372 | 22,099.3074 | 22,125.0353 | 22,133.7313 | 22,171.5942 | 242,255.6273 | 264,679.2527 | |
| Paid (EUR debited) | SERVICE TOOLING VENDOR IN USD (reverse charge) | A: bank; F: prior month USD / rate of this month | 19,321.57 | 19,196.39 | 19,532.52 | 20,019.3 | 20,160.36 | 19,710.27 | 19,650.61 | 20,065.48 | 20,449.9171 | 20,483.1279 | 20,412.6609 | 21,502.7645 | 21,488.8472 | 21,742.3686 | 22,031.3846 | 21,899.6162 | 22,065.9334 | 22,084.2682 | 22,121.9403 | 22,142.4359 | 22,061.6372 | 22,099.3074 | 22,125.0353 | 22,133.7313 | 240,504.9704 | 263,996.5057 |
| Exchange difference on settlement: gain (+) / loss (-) | SERVICE TOOLING VENDOR IN USD (reverse charge) | balance booked less EUR paid | -9.9 | 144.3552 | -294.8949 | -115.5108 | -99.5371 | 145.8407 | 91.6867 | 48.3241 | -336.8841 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -426.5202 | 0 |
| Payable: tooling vendor in USD (EUR) | SERVICE TOOLING VENDOR IN USD (reverse charge) | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 20,483.1279 | 20,412.6609 | 21,502.7645 | 21,488.8472 | 21,742.3686 | 22,031.3846 | 21,899.6162 | 22,065.9334 | 22,084.2682 | 22,121.9403 | 22,142.4359 | 22,061.6372 | 22,099.3074 | 22,125.0353 | 22,133.7313 | 22,171.5942 | 21,488.8472 | 22,171.5942 | |
| Invoices carrying Portuguese VAT, ex VAT | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 30,764.34 | 36,114.37 | 57,486.13 | 41,752.81 | 49,565.44 | 49,165.46 | 48,129.23 | 36,277.81 | 39,438.0807 | 62,299.5893 | 54,997.1056 | 39,317.3221 | 54,785.5568 | 43,445.0759 | 55,222.8175 | 47,426.0478 | 49,178.3852 | 48,333.453 | 43,028.9847 | 36,575.4359 | 44,365.9415 | 51,356.5548 | 44,907.0883 | 44,365.8873 | 545,307.6877 | 562,991.2287 | |
| Invoices incl. VAT (and the VAT-exempt OHS provider) | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 38,265.7182 | 44,873.8951 | 71,149.6399 | 51,792.6263 | 61,416.5312 | 60,928.0358 | 59,626.6229 | 45,069.4663 | 48,958.8393 | 77,078.4948 | 68,096.4398 | 48,810.3062 | 67,847.4849 | 53,898.6934 | 68,385.3156 | 58,795.2888 | 60,950.6638 | 59,911.3971 | 53,386.9012 | 45,449.0361 | 55,031.3581 | 63,629.8124 | 55,696.9686 | 55,031.2913 | 676,066.6158 | 698,014.2113 | |
| Paid | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | A: bank; F: prior balance | 41,041.89 | 38,265.72 | 44,873.9 | 71,149.64 | 51,792.63 | 61,416.53 | 60,928.04 | 59,626.62 | 45,069.4557 | 48,958.8393 | 77,078.4948 | 68,096.4398 | 48,810.3062 | 67,847.4849 | 53,898.6934 | 68,385.3156 | 58,795.2888 | 60,950.6638 | 59,911.3971 | 53,386.9012 | 45,449.0361 | 55,031.3581 | 63,629.8124 | 55,696.9686 | 668,298.1996 | 691,793.2262 |
| Payable: other suppliers | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 38,265.7182 | 44,873.8933 | 71,149.6332 | 51,792.6195 | 61,416.5207 | 60,928.0265 | 59,626.6094 | 45,069.4557 | 48,958.8393 | 77,078.4948 | 68,096.4398 | 48,810.3062 | 67,847.4849 | 53,898.6934 | 68,385.3156 | 58,795.2888 | 60,950.6638 | 59,911.3971 | 53,386.9012 | 45,449.0361 | 55,031.3581 | 63,629.8124 | 55,696.9686 | 55,031.2913 | 48,810.3062 | 55,031.2913 | |
| TOTAL TRADE PAYABLES | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 577,900.3871 | 417,638.2351 | 510,469.68 | 427,541.2976 | 440,769.9787 | 505,192.4959 | 412,290.9529 | 283,532.012 | 550,186.0419 | 545,931.4284 | 474,365.1608 | 458,713.4618 | 643,040.6272 | 443,319.5542 | 493,628.2464 | 439,082.7986 | 457,953.8608 | 509,131.7447 | 406,603.4366 | 296,061.1063 | 572,651.5813 | 544,702.7583 | 468,268.1218 | 472,014.7237 | 458,713.4618 | 472,014.7237 |
13-week cash forecast
Base · EUR · 2026-01 to 2027-12 · A: actual · F: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Customer receipts: Portugal, incl. VAT (collected through the month) | 133,214.7272 | 133,214.7272 | 139,775.1533 | 156,176.2188 | 156,176.2188 | 156,176.2188 | 156,176.2188 | 174,434.9757 | 177,478.1019 | 177,478.1019 | 177,478.1019 | 183,942.6076 | 188,790.9868 |
| Customer receipts: Spain | 18,474.5508 | 18,474.5508 | 19,200.7095 | 21,016.1065 | 21,016.1065 | 21,016.1065 | 21,016.1065 | 21,498.8214 | 21,579.2739 | 21,579.2739 | 21,579.2739 | 21,110.983 | 20,759.7647 |
| Distributor rebate and licence incentives (end of the second month after the quarter) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,703.999 | 0 |
| TOTAL RECEIPTS | 151,689.2779 | 151,689.2779 | 158,975.8629 | 177,192.3252 | 177,192.3252 | 177,192.3252 | 177,192.3252 | 195,933.7971 | 199,057.3758 | 199,057.3758 | 199,057.3758 | 222,757.5896 | 209,550.7516 |
| Net pay and meal cards (last working day; November carries the Christmas allowance) | 0 | 0 | -107,045.967 | 0 | 0 | 0 | -110,870.5383 | 0 | 0 | 0 | 0 | -209,971.1936 | 0 |
| Social security for the prior month (20th) | 0 | -46,692.32 | 0 | 0 | 0 | -44,543.7697 | 0 | 0 | 0 | -45,835.608 | 0 | 0 | 0 |
| IRS withheld for the prior month (20th) | 0 | -20,916.9 | 0 | 0 | 0 | -19,986.6785 | 0 | 0 | 0 | -20,374.9353 | 0 | 0 | 0 |
| IRC withheld on rent (20th) | 0 | -2,625 | 0 | 0 | 0 | -2,625 | 0 | 0 | 0 | -2,625 | 0 | 0 | 0 |
| Work accident and health insurance (direct debit) | 0 | 0 | 0 | 0 | -3,602.7723 | 0 | 0 | 0 | -3,703.138 | 0 | 0 | 0 | -3,700.6751 |
| Direct debits: insurance, travel, telecoms and field vans | 0 | 0 | 0 | 0 | -15,686.0452 | 0 | 0 | 0 | -15,687.328 | 0 | 0 | 0 | -15,687.9506 |
| Rent, net of the IRC withheld (first working day) | 0 | 0 | -7,875 | 0 | 0 | 0 | 0 | -7,875 | 0 | 0 | 0 | -7,875 | 0 |
| Hardware distributors (30 days) | -23,231.5065 | -23,231.5065 | -37,318.1308 | -72,534.6915 | -72,534.6915 | -72,534.6915 | -72,534.6915 | -68,696.2245 | -68,056.48 | -68,056.48 | -68,056.48 | -57,701.8524 | -49,935.8817 |
| Licence distributor (30 days) | -27,716.8968 | -27,716.8968 | -30,089.3326 | -36,020.4221 | -36,020.4221 | -36,020.4221 | -36,020.4221 | -36,499.7034 | -36,579.5836 | -36,579.5836 | -36,579.5836 | -36,789.3951 | -36,946.7537 |
| Tooling vendor in USD (wire on the 15th) | -20,449.9171 | 0 | 0 | 0 | -20,483.1279 | 0 | 0 | 0 | 0 | -20,412.6609 | 0 | 0 | 0 |
| Other suppliers incl. VAT and IT equipment (30 days) | -10,516.3784 | -10,516.3784 | -10,670.3337 | -11,055.2218 | -11,055.2218 | -11,055.2218 | -11,055.2218 | -16,995.0164 | -17,984.9821 | -17,984.9821 | -17,984.9821 | -16,494.4869 | -15,376.6154 |
| VAT (25th; the September payment covers June and July) | 0 | -87,264.6245 | 0 | 0 | 0 | 0 | -50,238.0505 | 0 | 0 | 0 | -39,917.4807 | 0 | 0 |
| IRC payments on account (30 September and 15 December) | 0 | 0 | -73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Loan instalment: principal and interest (month end) | 0 | 0 | -37,638.8857 | 0 | 0 | 0 | 0 | -37,499.9968 | 0 | 0 | 0 | -37,361.1079 | 0 |
| TOTAL PAYMENTS | -81,914.6989 | -218,963.6263 | -303,722.2423 | -119,610.3354 | -159,382.2807 | -186,765.7837 | -280,718.9243 | -167,565.9411 | -142,011.5118 | -211,869.2499 | -162,538.5264 | -366,193.0358 | -121,647.8765 |
| NET CASH FLOW FOR THE WEEK | 69,774.5791 | -67,274.3483 | -144,746.3794 | 57,581.9898 | 17,810.0445 | -9,573.4584 | -103,526.5991 | 28,367.8561 | 57,045.864 | -12,811.8741 | 36,518.8494 | -143,435.4463 | 87,902.875 |
| Opening cash | 956,726.3633 | 1,026,500.9423 | 959,226.594 | 814,480.2146 | 872,062.2044 | 889,872.2489 | 880,298.7905 | 776,772.1914 | 805,140.0475 | 862,185.9115 | 849,374.0374 | 885,892.8868 | 742,457.4405 |
| CLOSING CASH | 1,026,500.9423 | 959,226.594 | 814,480.2146 | 872,062.2044 | 889,872.2489 | 880,298.7905 | 776,772.1914 | 805,140.0475 | 862,185.9115 | 849,374.0374 | 885,892.8868 | 742,457.4405 | 830,360.3155 |
| Minimum cash buffer (board policy) | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 |
| HEADROOM / (SHORTFALL) VS BUFFER | 626,500.9423 | 559,226.594 | 414,480.2146 | 472,062.2044 | 489,872.2489 | 480,298.7905 | 376,772.1914 | 405,140.0475 | 462,185.9115 | 449,374.0374 | 485,892.8868 | 342,457.4405 | 430,360.3155 |
| Status | OK | OK | OK | OK | OK | OK | OK | OK | OK | OK | OK | OK | OK |
| Measure | Value |
|---|---|
| low | 742,457.4405 |
| lowwk | 2026-12-04 |
| short | 342,457.4405 |
| fac | 300,000 |
| fachead | 300,000 |
| taxwk | 456,729.9597 |
| Measure | Value |
|---|---|
| rec close | 830,360.3155 |
| rec dec | -126,134.7924 |
| rec implied | 704,225.5232 |
| rec bs | 704,225.5232 |
| rec diff | 0 |
Schedules & controls
Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| Measure | Value |
|---|---|
| overall status | OK |
| 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 | 0.05 | 0.5 | OK |
| Closing cash on the cash flow equals balance sheet cash | Link integrity | 0 | 0.5 | OK |
| Retained earnings roll: closing = opening + net profit - dividends declared | Equity roll-forward to Dec-27 | 0 | 0.5 | OK |
| Opening balance sheet at 31-Dec-25 balances | FY2025 closing balances on Inputs_Actuals | 0 | 0.5 | OK |
| P&L revenue equals the revenue schedule, every month | Link integrity | 0 | 0.5 | OK |
| Register counts and prices reproduce the Dec-25 fees in History | Contract_Register agrees with the FY2025 billing | 0 | 0.5 | OK |
| Onboarding fees deferred equal the contract schedule, every month | IFRS 15.B48 to B51 over the 36-month term | 0 | 0.5 | OK |
| Annual licences billed ahead equal the billing schedule, every month | Twelve months of recognition per billing | 0 | 0.5 | OK |
| Prepaid licence cost equals the licence liability x (1 - margin), every month | Vendor cost follows the revenue | 0 | 0.5 | OK |
| SLA credits due equal the credits of the month, every month | Credited on the next invoice | 0 | 0.5 | OK |
| Project positions: change in contract liabilities less assets equals billing less revenue | Every project, every month | 0 | 0.5 | OK |
| Opening project contract balances agree with the Project_Register at 31-Dec-25 | Billed less revenue to date | 0 | 0.5 | OK |
| Rebates receivable equal the accruals of quarters not yet paid, every month | Quarterly tiers and payment timing | 0 | 0.5 | OK |
| Gross margin by service line reconciles to the P&L gross profit, every month | Revenue and cost of revenue fully allocated | 0 | 0.5 | OK |
| Contract contributions + onboarding + SLA credits equal the managed services margin (FY2026) | Allocation by desk hours, endpoints, users and devices is complete | 0 | 0.5 | OK |
| Remuneration equals net pay plus employee social security and IRS, every month | Payroll journal integrity | 0 | 0.5 | OK |
| Social security payable at each forecast month end equals the month due | Paid by the 20th of the following month | 0 | 0.5 | OK |
| IRS withheld payable at each forecast month end equals the month due | Paid by the 20th of the following month | 0 | 0.5 | OK |
| Christmas allowance accrual is nil at each December | Paid with the November payroll, trued up in December | 0 | 0.5 | OK |
| Opening holiday accrual equals two months of Dec-25 pay by band, incl. TSU | 22 days and the holiday allowance vested on 1 January | 0 | 0.5 | OK |
| Every band salary is at or above the national minimum wage | EUR 920 from January 2026 | 230 | 0 | OK |
| VAT payable equals the returns not yet paid, every month | Monthly regime, payment in the second month | 0 | 0.5 | OK |
| IRC payable at Dec-26 equals FY2026 tax less its payments on account | Tax roll-forward | 0 | 0.5 | OK |
| IRC payable at Dec-27 equals FY2027 tax less its payments on account (FY2026 settled) | Balance and refund of FY2026 in 2027 | 0 | 0.5 | OK |
| FY2026 and FY2027 tax = SME rate to EUR 50,000 + general rate + derrama on taxable profit | IRC arithmetic | 0 | 0.5 | OK |
| Payments on account: September 2026 = 95% x FY2025 IRC / 3; FY2027 = 95% x FY2026 IRC | CIRC art. 104 and 105 | 0 | 0.5 | OK |
| IRC withheld on rent payable at each forecast month end equals 25% of the month rent | Paid by the 20th of the following month | 0 | 0.5 | OK |
| AR aging: customers in Portugal tie to the ledger | Item listing agrees with the balance at the last actual month | 0 | 0.5 | OK |
| AR aging: customers in Spain tie to the ledger | Item listing agrees with the balance at the last actual month | 0 | 0.5 | OK |
| AP aging: Hardware distributors tie to the Payables schedule | 0 | 0.5 | OK | |
| AP aging: Licence distributor tie to the Payables schedule | 0 | 0.5 | OK | |
| AP aging: Tooling vendor (USD) tie to the Payables schedule | 0 | 0.5 | OK | |
| AP aging: Other suppliers tie to the Payables schedule | 0 | 0.5 | OK | |
| Forecast receivables equal the collection rule every month | Receipts never collect an invoice twice when the days change | 0 | 0.5 | OK |
| USD payable at each month end equals the month invoice at the month rate | Exchange differences taken on settlement (IAS 21) | 0 | 0.5 | OK |
| Loan balance at Dec-27 = opening less principal repaid | Loan roll-forward | 0 | 0.5 | OK |
| Dividends and the IRS withheld on them are fully paid by each year end | Declared, paid, withholding paid to the State | 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 revenue causes reconcile (YTD and FY) | Contract groups and revenue streams explain the full variance | 0 | 0.5 | OK |
| EBITDA walk from budget to actual reconciles | Variances explain the full EBITDA gap | 0 | 0.5 | OK |
| Customer receivables never negative | 151,155.2324 | 0.5 | OK | |
| Trade payables never negative | 19,237.6251 | 0.5 | OK | |
| Users, devices and fees never negative (every contract, every month) | 0 | 0.001 | OK | |
| Project hours and provisions never negative | 0 | 0.001 | OK | |
| Contract liabilities, prepaid licences and stock never negative | 7,468.75 | 0.5 | OK | |
| Headcount never negative | 0.9752 | 0 | OK | |
| Fixed assets, customer relationships and the loan never negative | 86,188.9521 | 0 | OK | |
| Timeline: months flagged actual equal the last actual month number | 0 | 0.5 | OK |
| item | note | value |
|---|---|---|
| Lowest month-end cash in the forecast (selected scenario) | Board buffer: Assumptions | 689,023.0115 |
| Headroom over the buffer at the lowest point | Negative = below the board buffer | 289,023.0115 |
| Lowest 13-week closing cash | 742,457.4405 | |
| Debt service cover at the December 2026 test | Covenant at least 1.2x; a breach also blocks the 2027 dividend | 1.0883 |
| Net debt / EBITDA at the December 2026 test | Covenant at most 2.5x | 0.2268 |
| Highest forecast service desk utilisation | Above the knee on Assumptions SLA credits start | 0.9505 |
| Net revenue retention at Dec-27 | Below 100% the contract base shrinks without new sales | 1.0277 |
| Largest contract share of FY2026 managed services revenue | Above 10% is a concentration risk | 0.1002 |
| Disputed J11 milestone open at the last actual month (EUR) | Month and credit share are scenario drivers | 21,600 |
| Onerous project provision at the last actual month (EUR) | J01 ERP migration | 2,507.14 |
| Distributor rebate tier expected for Q3-26 | 2.5% budgeted | 0.015 |
| type | label | unit | value | note | base | downside | upside | selected | ytd actual reference |
|---|---|---|---|---|---|---|---|---|---|
| scalar | Company name | Quelvora Sistemas, Lda (fictional demonstration company) | All figures fictional. Portuguese private limited company (Lda) in Porto, founded 2009, owned by its two founders; financial year = calendar year; EUR. Management accounts under IFRS; statutory accounts under SNC, differences not modelled. | ||||||
| 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 | 400,000 | Board policy: one month of payroll, social security and supplier runs; used by the 13-week cash forecast and the CFO report | |||||
| scalar | Undrawn overdraft facility available | EUR | 300,000 | Committed credit line (conta caucionada) with the lending bank, undrawn | |||||
| scalar | Aged receivables and payables: as-at date | calc | 2026-08-31 | ||||||
| scalar | VAT (IVA): standard rate, mainland | rate | 0.23 | Código do IVA art. 18; charged to customers in Portugal | |||||
| scalar | Corporate income tax (IRC): general rate FY2026 | rate | 0.19 | CIRC art. 87 as amended by Lei 64/2025: 19% for 2026, 18% for 2027, 17% from 2028 | |||||
| scalar | IRC: general rate FY2027 | rate | 0.18 | ||||||
| scalar | IRC: SME rate on the first EUR 50,000 of taxable profit | rate | 0.15 | CIRC art. 87(2): 15% from 2026 (FY2025: 20% and 16%, Lei 45-A/2024). The company is an SME | |||||
| scalar | IRC: SME band | EUR | 50,000 | ||||||
| scalar | Municipal surcharge (derrama), Porto | rate | 0.015 | Ofício Circulado 20288/2026 (rates for collection in 2026): Porto 1.5% (0.75% only below EUR 150,000 of turnover). State surcharge starts at EUR 1.5m of taxable profit: not reached | |||||
| scalar | IRC assessed for FY2025 (before derrama), base for the FY2026 payments on account | EUR | 230,793.45 | FY2025 return (fictional) | |||||
| scalar | Payments on account: share of the prior-year tax (turnover above EUR 500,000) | rate | 0.95 | CIRC art. 105: 95%, in three instalments due in July, September and by 15 December (art. 104) | |||||
| scalar | Limit the third FY2026 payment on account (1 = yes, 0 = pay in full) | switch | 0 | CIRC art. 107: the third instalment may be stopped or limited when the payments made already cover the tax due; compensatory interest applies if the tax proves more than 20% higher | |||||
| scalar | IRC balance for FY2025 (paid with the Modelo 22) | EUR | 105,752.96 | Filing and payment deadline extended to 19 June 2026 (Despacho n.º 68/2026-XXV of 12 May 2026) | |||||
| scalar | Month an IRC overpayment for FY2026 is refunded | month | 2027-09-30 | Assumption: about three months after the May filing; information needed: the tax authority refund date | |||||
| scalar | IRC withheld on rent paid to the landlord company | rate | 0.25 | CIRC art. 94(1)(c) and (4): 25%; paid to the State by the 20th of the following month (art. 94(6)) | |||||
| scalar | IRS withheld on dividends paid to the resident individual shareholders | rate | 0.28 | CIRS art. 71(1)(a): 28% final withholding; paid by the 20th of the following month (CIRS art. 98(3)) | |||||
| scalar | Social security (TSU): employer | rate | 0.2375 | Código Contributivo: 23.75% employer, 11% employee, on salaries and both allowances | |||||
| scalar | Social security (TSU): employee | rate | 0.11 | ||||||
| scalar | Meal allowance on card per working day | EUR | 10 | Below the 2026 exempt limit of EUR 10.455 on a meal card (idealista.pt, public sector allowance EUR 6.15 + 70%): no TSU, no IRS | |||||
| scalar | Working days a month | days | 21 | ||||||
| scalar | Holiday entitlement (working days a year) | days | 22 | ||||||
| scalar | Work accident insurance premium on remuneration | rate | 0.009 | Mandatory insurance (assumption: 0.90% for office and field IT staff); information needed: the policy rate | |||||
| scalar | Health insurance per head a month | EUR | 32 | Company plan (fictional) | |||||
| scalar | National minimum wage 2026 (monthly) | EUR | 920 | Decreto-Lei 139/2025: EUR 920 from 1 January 2026 (every band is above it) | |||||
| scalar | IRS withholding 2026, Tabela I (single, no dependants): monthly remuneration from | Up to | Marginal rate | Amount deducted | |||||
| scalar | 1,154.01 | 1,212 | 0.212 | 158.18 | |||||
| scalar | 1,212.01 | 1,819 | 0.241 | 193.33 | |||||
| scalar | 1,819.01 | 2,119 | 0.311 | 320.66 | |||||
| scalar | 2,119.01 | 2,499 | 0.349 | 401.19 | |||||
| scalar | 2,499.01 | 3,305 | 0.3836 | 487.66 | |||||
| scalar | 3,305.01 | 5,547 | 0.3969 | 531.62 | |||||
| scalar | 5,547.01 | 20,221 | 0.4495 | 823.4 | |||||
| scalar | 20,221.01 | 999,999 | 0.4717 | 1,272.31 | |||||
| scalar | Band | Code | Department | Monthly salary FY2026 | |||||
| scalar | Service desk analysts | L1 | SVC | 1,200 | |||||
| scalar | Support engineers | L2 | SVC | 1,650 | |||||
| scalar | Systems engineers | L3 | SVC | 2,350 | |||||
| scalar | Field technicians | FLD | SVC | 1,300 | |||||
| scalar | NOC and security analysts | NOC | SVC | 1,750 | |||||
| scalar | Service delivery managers | SDM | SVC | 2,650 | |||||
| scalar | Project engineers | PEN | PRJ | 2,150 | |||||
| scalar | Project managers | PM | PRJ | 2,850 | |||||
| scalar | Sales director | SD | SM | 3,600 | |||||
| scalar | Account managers | AM | SM | 2,000 | |||||
| scalar | Presales engineer | PSE | SM | 2,600 | |||||
| scalar | Marketing | MKT | SM | 1,800 | |||||
| scalar | Directors (CEO and CTO, founders) | DIR | GA | 5,000 | |||||
| scalar | Finance | FIN | GA | 2,000 | |||||
| scalar | People and HR | HR | GA | 1,700 | |||||
| scalar | Procurement and logistics | PRC | GA | 1,300 | |||||
| scalar | Office administration | ADM | GA | 1,150 | |||||
| scalar | Attrition a year, base: service delivery | rate | 0.14 | Company history and the Porto market for IT roles (company assumption) | |||||
| scalar | Attrition a year, base: projects | rate | 0.1 | ||||||
| scalar | Attrition a year, base: sales and marketing | rate | 0.15 | ||||||
| scalar | Attrition a year, base: general and administrative | rate | 0.06 | ||||||
| scalar | Equipment per new hire | EUR | 1,300 | ||||||
| scalar | IT replacement cycle, capex a month | EUR | 1,800 | ||||||
| scalar | Recruitment cost per hire | EUR | 2,200 | ||||||
| scalar | Sales commission: share of the first-year value of new managed contracts | rate | 0.06 | Commission plan FY2026 (fictional), paid with the next payroll. Capitalised with its TSU as a cost of obtaining a 36-month contract and amortised over the term (IFRS 15.91 and 99); no commission on renewals | |||||
| scalar | Sales commission: share of hardware gross margin | rate | 0.03 | Expensed: it relates to hardware delivered in the month | |||||
| scalar | Managed service contract term (months) | months | 36 | Renewal every 36 months at the probability on the Contract_Register; price review at each anniversary | |||||
| scalar | Price review applied at anniversaries Jan to Aug 2026 (actual) | rate | 0.026 | Contract clause (fictional); forecast anniversaries use the scenario driver | |||||
| scalar | Onboarding fee per user at contract start | EUR | 45 | Not a distinct service: recognised over the 36-month term (IFRS 15.B48 to B51); deferred balance is a contract liability | |||||
| scalar | Bundled licences: share of users covered | share | 0.85 | Per-user productivity and security subscriptions provisioned and supported inside the managed contract: principal (IFRS 15.B35A(b)), revenue monthly | |||||
| scalar | Bundled licences: price per user a month FY2026 | EUR | 20.5 | ||||||
| scalar | Bundled licences: vendor cost per user a month FY2026 | EUR | 17.3 | ||||||
| scalar | Bundled licences: vendor price change 1-Jan-27, passed through at the same margin | rate | 0.03 | Assumption; information needed: the vendor price list for 2027 | |||||
| scalar | Tickets a month per user | tickets | 0.42 | PSA ticket history FY2025 (fictional) | |||||
| scalar | Tickets a month per device | tickets | 0.17 | ||||||
| scalar | Tickets: share P1 | share | 0.03 | P1 critical to P4 low | |||||
| scalar | Hours per ticket P1 | hours | 3.5 | ||||||
| scalar | Tickets: share P2 | share | 0.12 | ||||||
| scalar | Hours per ticket P2 | hours | 1.8 | ||||||
| scalar | Tickets: share P3 | share | 0.55 | ||||||
| scalar | Hours per ticket P3 | hours | 0.9 | ||||||
| scalar | Tickets: share P4 | share | 0.3 | ||||||
| scalar | Hours per ticket P4 | hours | 0.45 | ||||||
| scalar | Average hours per ticket (weighted) | calc | 0.951 | ||||||
| scalar | Proactive hours a month per device (patching, monitoring, backups) | hours | 1.15 | ||||||
| scalar | Proactive hours a month per user (endpoint management) | hours | 0.19 | ||||||
| scalar | Share of proactive work deferred in proportion to holidays | share | 0.5 | ||||||
| scalar | Onboarding hours per new user (start month) | hours | 2 | ||||||
| scalar | Productive hours per service desk FTE a month before holidays | hours | 126 | 8 hours x 21 days x 75% (training, meetings, administration, absence) | |||||
| scalar | SLA attainment at or below the utilisation knee | share | 0.985 | Fitted to FY2025 and FY2026 PSA data: attainment = max - slope x (utilisation - knee) | |||||
| scalar | Utilisation knee | share | 0.8 | ||||||
| scalar | Slope of attainment above the knee | x | 0.65 | ||||||
| scalar | Contractual SLA target (share of tickets inside response and resolution times) | share | 0.96 | ||||||
| scalar | Band over which breaches spread across the contract base | share | 0.1 | Share of fees in breach = (target - attainment) / band, capped at 100% | |||||
| scalar | SLA credit: share of the monthly fee of a contract in breach | share | 0.05 | Variable consideration (IFRS 15.50 to 59): estimated in the month of the service, credited on the next invoice | |||||
| scalar | Annual licences: margin (vendor cost 76% of billing, prepaid for the year) | share | 0.24 | Security and backup subscriptions bought in the company name and managed by it: principal; billed a year ahead, revenue and cost over 12 months | |||||
| scalar | Annual licences: share billed to customers in Portugal | share | 0.88 | ||||||
| scalar | Licences resold as agent: commission (gross billing less vendor cost) | share | 0.115 | Standard licences delivered by the manufacturer straight to the customer; the company never controls them (IFRS 15.B34 to B38; IFRIC agenda decision, Principal versus Agent: Software Reseller, 2022): revenue is the net commission | |||||
| scalar | Licences resold as agent: gross billing run-rate a month before seasonality | EUR | 57,100 | Jan to Jul 2026 average | |||||
| scalar | Licences resold as agent: share billed in Portugal | share | 0.9 | ||||||
| scalar | Hardware: revenue run-rate a month before seasonality | EUR | 208,000 | Jan to Jul 2026 average; FY2025 was lifted by the desktop refresh cycle | |||||
| scalar | Hardware: share delivered to customers in Spain (exempt intra-EU supply) | share | 0.12 | Principal: the company buys, holds and configures the hardware and sets the price (IFRS 15.B37); revenue on delivery | |||||
| scalar | Hardware: stock in days of cost of sales | days | 14 | ||||||
| scalar | Distributor rebate: quarterly purchases for tier 1 | EUR | 450,000 | Distributor programme 2026 (fictional): 1.5% from EUR 450k a quarter, 2.5% from EUR 650k; paid at the end of the second month after the quarter | |||||
| scalar | Distributor rebate: quarterly purchases for tier 2 | EUR | 650,000 | ||||||
| scalar | Distributor rebate: tier 1 rate | rate | 0.015 | ||||||
| scalar | Distributor rebate: tier 2 rate | rate | 0.025 | ||||||
| scalar | Licence vendor incentive on licence purchases | rate | 0.03 | Paid 45 days after the quarter. Rebates on purchases reduce cost of sales (IAS 2.11); the incentive on agent sales is part of the agent revenue | |||||
| scalar | Projects: standard cost of an own hour (loaded payroll) | EUR | 30 | Used for the onerous test (IAS 37.66 to 69 and 68A: direct labour and costs that relate directly) | |||||
| scalar | Projects: specialist subcontractor rate per hour | EUR | 82 | ||||||
| scalar | New project work: average realised rate per hour | EUR | 68 | ||||||
| scalar | New project work: share done by own staff | share | 0.9 | ||||||
| scalar | New project work not yet identified: first month | month | 2026-10-31 | Unidentified work fills the gap between the signed projects on the Project_Register and the scenario run-rate | |||||
| scalar | New project work: share billed in Portugal | share | 0.85 | FY2025 project billing split | |||||
| scalar | Collection days: customers in Portugal | days | 38 | FY2026 experience; invoices monthly in advance on 30 to 60-day terms | |||||
| scalar | Collection days: customers in Spain | days | 55 | ||||||
| scalar | Disputed J11 final milestone (Talleres Brañoso, invoiced June) | EUR | 21,600 | See AR_Aging | |||||
| scalar | Service tooling: price per endpoint a month | USD | 3.4 | RMM, PSA, endpoint security and backup platforms; US vendor invoicing in USD, paid on the 15th of the next month | |||||
| scalar | Service tooling: platform fee a month | USD | 4,500 | ||||||
| scalar | Endpoints per user (plus every managed device) | x | 1.1 | ||||||
| scalar | Colocation and backup storage: fixed a month | EUR | 7,800 | ||||||
| scalar | Colocation and backup storage per managed device | EUR | 0.9 | ||||||
| scalar | Field vans: rental, fuel and tolls per van a month | EUR | 790 | One van per field technician plus a pool van; VAT not recovered (simplification) | |||||
| scalar | Cabling and electrical subcontractors a month | EUR | 1,500 | ||||||
| scalar | Office rent, Porto (VAT exempt; 25% IRC withheld) | EUR | 10,500 | Lease to Dec-29 (fictional); paid monthly net of 25% IRC withheld | |||||
| scalar | Statutory audit, legal and tax advisers | EUR | 4,800 | Profile: x2.4 in March (statutory audit), x0.87 in other months | |||||
| scalar | Insurance (general liability, property, cyber) | EUR | 1,900 | ||||||
| scalar | Marketing and events | EUR | 6,500 | Profile: x1.8 in May and October (events), x0.5 in August, x0.93 in other months | |||||
| scalar | Training and certifications | EUR | 3,800 | ||||||
| scalar | Recruitment | EUR | 400 | Plus EUR 2,200 per hire (People) | |||||
| scalar | Travel (VAT not recovered) | EUR | 3,200 | ||||||
| scalar | Telecoms and internal IT | EUR | 4,200 | ||||||
| scalar | Office services and utilities | EUR | 2,700 | ||||||
| scalar | Occupational health and safety | EUR | 450 | ||||||
| scalar | Overhead inflation applied from FY2027 | rate | 0.025 | ||||||
| scalar | Bank term loan at 31-Dec-25 (acquisition of a Braga managed services business, April 2024) | EUR | 1,300,000 | EUR 2.0m over 60 months from April 2024, monthly principal; Euribor 3M + 2.25% (fictional) | |||||
| scalar | Monthly principal repayment | EUR | 33,333.33 | ||||||
| scalar | Loan margin over Euribor 3M | rate | 0.0225 | ||||||
| scalar | Covenant: net debt / EBITDA (last 12 months) at most | x | 2.5 | Tested at June and December; dividends allowed up to 50% of the prior-year net profit while covenants are met | |||||
| scalar | Covenant: debt service cover (EBITDA - tax paid - capex) / (principal + interest), last 12 months, at least | x | 1.2 | ||||||
| scalar | Dividend on FY2025 profit (approved 30 March 2026, paid 29 May 2026) | EUR | 360,000 | Paid net of 28% IRS; the withholding paid on 20 June | |||||
| scalar | Loan agreement: dividends capped at a share of the prior-year net profit | share | 0.5 | And only while both covenants are met at the December test (fictional loan agreement) | |||||
| scalar | Depreciation of IT equipment held at 31-Dec-25 a month | EUR | 3,100 | New IT equipment over 36 months | |||||
| scalar | Depreciation of the office fit-out a month | EUR | 1,166.67 | ||||||
| scalar | Amortisation of acquired customer relationships a month | EUR | 5,000 | EUR 480k over 8 years (IFRS 3, IAS 38); goodwill of EUR 920k is not amortised and is tested for impairment each year (IAS 36) | |||||
| scalar | Driver | Unit | Base | Downside | |||||
| scenario_driver | Users and devices: growth (x contract rates on the register) | x | FY2026 year to date 0.2% a month on average | 1 | 0.5 | 1.3 | 1 | ||
| scenario_driver | Price review at anniversaries from Sep-26 | rate | Actual 2026 reviews: 2.6% | 0.03 | 0.015 | 0.035 | 0.03 | 0.026 | |
| scenario_driver | Price change at the 36-month renewal | rate | On top of the anniversary review; renewal probabilities by contract sit on the Contract_Register | 0 | -0.05 | 0.02 | 0 | ||
| scenario_driver | Pipeline contracts: start delay | months | 0 | 2 | 0 | 0 | |||
| scenario_driver | Hardware demand (x run-rate) | x | Jan to Jul 2026 average EUR 208k a month before seasonality | 1 | 0.85 | 1.1 | 1 | 1.0178 | |
| scenario_driver | Hardware margin before rebates | share | FY2026 year to date 12.8% | 0.128 | 0.115 | 0.133 | 0.128 | 0.1281 | |
| scenario_driver | Annual licence billings: change on the same month a year earlier | rate | 0.04 | 0 | 0.06 | 0.04 | 0.0688 | ||
| scenario_driver | Licences resold as agent (x run-rate) | x | 1 | 0.85 | 1.1 | 1 | 1.058 | ||
| scenario_driver | Project revenue run-rate a month: signed projects topped up with work not yet identified (from Oct-26) | EUR | FY2025: EUR 103k a month; Jan to Aug 2026: EUR 67k a month; x the FY2025 seasonal profile | 90,000 | 65,000 | 110,000 | 90,000 | ||
| scenario_driver | J01: extra hours to complete (share of the remaining estimate) | share | Downside: the data migration needs more specialist time | 0 | 0.2 | 0 | 0 | ||
| scenario_driver | Planned hires made (share of the hiring plan on People) | share | Downside response: a quarter of the plan held back | 1 | 0.75 | 1 | 1 | ||
| scenario_driver | Leavers replaced (share) | share | 1 | 0.75 | 1 | 1 | |||
| scenario_driver | Attrition (x base rates) | x | 1 | 0.8 | 1 | 1 | |||
| scenario_driver | Pay review January 2027 | rate | The accrued holiday entitlement is revalued in December for the review | 0.03 | 0.02 | 0.035 | 0.03 | ||
| scenario_driver | Extra days to collect from customers | days | 0 | 15 | 0 | 0 | |||
| scenario_driver | Euribor 3M from Sep-26 | rate | Monthly averages Jan to Aug 2026: 2.14% rising to 2.71% (EMMI data, idealista.pt) | 0.0275 | 0.0325 | 0.024 | 0.0275 | 0.0244 | |
| scenario_driver | USD per EUR, forecast | rate | Base: ECB reference rate of 22-Sep-26 | 1.1463 | 1.08 | 1.18 | 1.1463 | 1.1624 | |
| scenario_driver | Dividend on FY2026 profit, paid May 2027 (share of net profit) | share | Loan agreement cap 50% of the prior-year net profit | 0.4 | 0 | 0.45 | 0.4 | ||
| scenario_driver | Disputed J11 milestone: month collected | month | 2026-10-31 | 2026-12-31 | 2026-10-31 | 2026-10-31 | |||
| scenario_driver | Disputed J11 milestone: share credited | share | 0 | 0.25 | 0 | 0 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C01 Brevanor Têxteis, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 422 | 423 | 422 | 423 | 423 | 424 | 424 | 425 | 0 | |||||||||||||||||
| C02 Clínicas Almedra, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 260 | 262 | 262 | 263 | 265 | 266 | 267 | 269 | 0 | |||||||||||||||||
| C03 Solvinha Calçado, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 150 | 151 | 152 | 152 | 153 | 153 | 153 | 153 | 0 | |||||||||||||||||
| C04 Valcorra Advogados: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 95 | 95 | 96 | 96 | 96 | 95 | 96 | 0 | |||||||||||||||||
| C05 Colégios Maravel: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 311 | 312 | 312 | 312 | 312 | 312 | 313 | 314 | 0 | |||||||||||||||||
| C06 Metalúrgica Vaurinho, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 121 | 121 | 122 | 122 | 121 | 122 | 122 | 122 | 0 | |||||||||||||||||
| C07 Quintas Delvara, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 86 | 86 | 87 | 87 | 87 | 87 | 88 | 88 | 0 | |||||||||||||||||
| C08 Farmácias Oliveda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 180 | 181 | 182 | 183 | 184 | 185 | 185 | 185 | 0 | |||||||||||||||||
| C09 Moldivel Plásticos, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 139 | 140 | 140 | 141 | 142 | 142 | 142 | 143 | 0 | |||||||||||||||||
| C10 Pravel Contabilidade, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 60 | 60 | 60 | 60 | 60 | 61 | 61 | 61 | 0 | |||||||||||||||||
| C11 Hotéis Alvenosa: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 130 | 131 | 131 | 131 | 131 | 131 | 131 | 132 | 0 | |||||||||||||||||
| C12 Cerâmicas Lovredo, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 110 | 110 | 111 | 110 | 110 | 111 | 111 | 111 | 0 | |||||||||||||||||
| C13 Castelvi Imobiliária: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 70 | 70 | 70 | 71 | 71 | 71 | 71 | 71 | 0 | |||||||||||||||||
| C14 Agrícola Vinhedal: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 90 | 91 | 91 | 91 | 92 | 92 | 92 | 92 | 0 | |||||||||||||||||
| C15 Engenharia Morvelo, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 75 | 76 | 76 | 77 | 77 | 77 | 77 | 78 | 0 | |||||||||||||||||
| C16 Cooperativa Leiteira Bravanha: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 160 | 160 | 160 | 161 | 160 | 161 | 161 | 162 | 0 | |||||||||||||||||
| C17 Laboratórios Cendral, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 116 | 116 | 117 | 118 | 118 | 119 | 119 | 119 | 0 | |||||||||||||||||
| C18 Mediavir Seguros: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 55 | 55 | 55 | 55 | 55 | 56 | 56 | 56 | 0 | |||||||||||||||||
| C19 Construtora Arvedo, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 145 | 145 | 145 | 145 | 146 | 146 | 147 | 147 | 0 | |||||||||||||||||
| C20 Distribuidora Pellano, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 125 | 126 | 126 | 127 | 127 | 127 | 128 | 128 | 0 | |||||||||||||||||
| C21 Gráfica Tornavel, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 0 | |||||||||||||||||
| C22 Óticas Lumarel: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 96 | 96 | 96 | 96 | 96 | 97 | 97 | 0 | |||||||||||||||||
| C23 Salmeira Arquitetos: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 41 | 41 | 41 | 41 | 41 | 0 | |||||||||||||||||
| C24 Traslovia Transportes, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 151 | 151 | 150 | 150 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| C25 Conservas Brelmar, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 140 | 141 | 142 | 142 | 141 | 141 | 142 | 143 | 0 | |||||||||||||||||
| C26 Talleres Brañoso, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 90 | 90 | 90 | 91 | 91 | 91 | 91 | 92 | 0 | |||||||||||||||||
| C27 Clínica Veigadal, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 70 | 70 | 71 | 71 | 72 | 72 | 72 | 73 | 0 | |||||||||||||||||
| C28 Maderas Ouriñal, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 80 | 80 | 81 | 81 | 81 | 81 | 81 | 80 | 0 | |||||||||||||||||
| C29 Pesqueras Morazal, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 95 | 95 | 95 | 95 | 95 | 94 | 95 | 0 | |||||||||||||||||
| C30 Bodegas Quenlla, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 55 | 55 | 56 | 56 | 56 | 56 | 56 | 56 | 0 | |||||||||||||||||
| C31 Ferroval Automação, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 80 | 80 | 81 | 81 | 81 | 81 | 0 | |||||||||||||||||
| C32 Clínica Dentária Rosmel: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 66 | 66 | 67 | 67 | 0 | |||||||||||||||||
| C33 Mobiliário Tarvela, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 0 | 0 | 108 | 109 | 0 | |||||||||||||||||
| C01: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 95 | 95 | 96 | 96 | 96 | 96 | 96 | 0 | |||||||||||||||||
| C02: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 0 | |||||||||||||||||
| C03: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 0 | |||||||||||||||||
| C04: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 0 | |||||||||||||||||
| C05: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 85 | 85 | 85 | 85 | 86 | 86 | 86 | 87 | 0 | |||||||||||||||||
| C06: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 0 | |||||||||||||||||
| C07: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 30 | 30 | 30 | 30 | 31 | 31 | 31 | 31 | 0 | |||||||||||||||||
| C08: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 90 | 90 | 91 | 91 | 91 | 91 | 91 | 91 | 0 | |||||||||||||||||
| C09: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 0 | |||||||||||||||||
| C10: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 0 | |||||||||||||||||
| C11: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 0 | |||||||||||||||||
| C12: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 0 | |||||||||||||||||
| C13: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 0 | |||||||||||||||||
| C14: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 0 | |||||||||||||||||
| C15: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 0 | |||||||||||||||||
| C16: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 52 | 52 | 52 | 52 | 52 | 53 | 52 | 52 | 0 | |||||||||||||||||
| C17: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 42 | 42 | 42 | 43 | 43 | 43 | 43 | 43 | 0 | |||||||||||||||||
| C18: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 0 | |||||||||||||||||
| C19: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 0 | |||||||||||||||||
| C20: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 0 | |||||||||||||||||
| C21: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 0 | |||||||||||||||||
| C22: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 50 | 50 | 50 | 50 | 51 | 51 | 51 | 51 | 0 | |||||||||||||||||
| C23: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 0 | |||||||||||||||||
| C24: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 40 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| C25: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 45 | 45 | 46 | 46 | 46 | 46 | 47 | 47 | 0 | |||||||||||||||||
| C26: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 0 | |||||||||||||||||
| C27: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 0 | |||||||||||||||||
| C28: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 0 | |||||||||||||||||
| C29: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 0 | |||||||||||||||||
| C30: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 0 | |||||||||||||||||
| C31: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 28 | 28 | 28 | 28 | 28 | 29 | 0 | |||||||||||||||||
| C32: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 20 | 20 | 20 | 20 | 0 | |||||||||||||||||
| C33: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 0 | 0 | 33 | 33 | 0 | |||||||||||||||||
| C01: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 22,327 | 22,365.5 | 22,907.5 | 23,012.67 | 23,012.67 | 23,052.17 | 23,052.17 | 23,091.67 | 182,821.35 | |||||||||||||||||
| C02: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 15,500 | 15,588 | 15,588 | 16,038.43 | 16,128.72 | 16,173.86 | 16,219.01 | 16,309.3 | 127,545.32 | |||||||||||||||||
| C03: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,090 | 8,130 | 8,170 | 8,170 | 8,210 | 8,210 | 8,210 | 8,210 | 65,400 | |||||||||||||||||
| C04: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,524 | 6,524 | 6,693.62 | 6,746.98 | 6,746.98 | 6,746.98 | 6,693.62 | 6,746.98 | 53,423.16 | |||||||||||||||||
| C05: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 13,099 | 13,128 | 13,128 | 13,128 | 13,176 | 13,176 | 13,205 | 13,627.33 | 105,667.33 | |||||||||||||||||
| C06: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,552.39 | 7,552.39 | 7,594.45 | 7,594.45 | 7,552.39 | 7,594.45 | 7,594.45 | 7,594.45 | 60,629.42 | |||||||||||||||||
| C07: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,730 | 5,878.98 | 5,925.15 | 5,925.15 | 5,988.76 | 5,988.76 | 6,034.93 | 6,034.93 | 47,506.66 | |||||||||||||||||
| C08: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 11,357.82 | 11,397.83 | 11,484.02 | 11,524.03 | 11,564.05 | 11,604.06 | 11,604.06 | 11,604.06 | 92,139.93 | |||||||||||||||||
| C09: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,395 | 8,435 | 8,435 | 8,475 | 8,515 | 8,515 | 8,736.39 | 8,777.43 | 68,283.82 | |||||||||||||||||
| C10: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 3,840 | 3,840 | 3,840 | 3,840 | 3,840 | 3,890 | 3,890 | 3,890 | 30,870 | |||||||||||||||||
| C11: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,930 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 8,212.1 | 63,944.1 | |||||||||||||||||
| C12: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,706 | 6,706 | 6,747 | 6,706 | 6,706 | 6,747 | 6,747 | 6,747 | 53,812 | |||||||||||||||||
| C13: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 4,280 | 4,280 | 4,391.28 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 35,148.78 | |||||||||||||||||
| C14: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,134 | 5,173 | 5,173 | 5,173 | 5,347.51 | 5,347.51 | 5,347.51 | 5,347.51 | 42,043.04 | |||||||||||||||||
| C15: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,075 | 5,124 | 5,124 | 5,173 | 5,307.5 | 5,307.5 | 5,307.5 | 5,357.77 | 41,776.27 | |||||||||||||||||
| C16: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,724 | 8,724 | 8,724 | 8,760 | 8,724 | 8,817 | 8,760 | 8,796 | 70,029 | |||||||||||||||||
| C17: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,192 | 8,192 | 8,238 | 8,352 | 8,352 | 8,398 | 8,398 | 8,616.35 | 66,738.35 | |||||||||||||||||
| C18: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 3,290 | 3,290 | 3,290 | 3,290 | 3,290 | 3,424.79 | 3,424.79 | 3,424.79 | 26,724.37 | |||||||||||||||||
| C19: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,790 | 7,992.54 | 7,992.54 | 7,992.54 | 8,031.53 | 8,031.53 | 8,070.52 | 8,070.52 | 63,971.72 | |||||||||||||||||
| C20: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,382.07 | 7,422.08 | 7,422.08 | 7,462.1 | 7,462.1 | 7,462.1 | 7,502.11 | 7,502.11 | 59,616.75 | |||||||||||||||||
| C21: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,278.42 | 4,278.42 | 33,576.84 | |||||||||||||||||
| C22: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,715 | 5,752 | 5,752 | 5,752 | 5,796 | 5,796 | 5,833 | 5,833 | 46,229 | |||||||||||||||||
| C23: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 2,728 | 2,728 | 2,728 | 2,780 | 2,780 | 2,780 | 2,780 | 2,780 | 22,084 | |||||||||||||||||
| C24: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,289 | 8,289 | 8,250 | 8,250 | 0 | 0 | 0 | 0 | 33,078 | |||||||||||||||||
| C25: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,900 | 8,943 | 9,050 | 9,285.3 | 9,241.18 | 9,241.18 | 9,350.96 | 9,395.08 | 73,406.7 | |||||||||||||||||
| C26: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,204 | 6,204 | 6,204 | 6,248 | 6,248 | 6,248 | 6,248 | 6,455.59 | 50,059.59 | |||||||||||||||||
| C27: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 4,442 | 4,557.49 | 4,605.71 | 4,605.71 | 4,653.94 | 4,653.94 | 4,653.94 | 4,702.16 | 36,874.89 | |||||||||||||||||
| C28: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,050 | 5,050 | 5,091 | 5,091 | 5,091 | 5,091 | 5,091 | 5,050 | 40,605 | |||||||||||||||||
| C29: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,108 | 6,150 | 49,158 | |||||||||||||||||
| C30: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 3,715 | 3,715 | 3,760 | 3,760 | 3,760 | 3,760 | 3,857.76 | 3,857.76 | 30,185.52 | |||||||||||||||||
| C31: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 0 | 0 | 5,256 | 5,256 | 5,300 | 5,300 | 5,300 | 5,362 | 31,774 | |||||||||||||||||
| C32: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 0 | 0 | 0 | 0 | 4,236 | 4,236 | 4,282 | 4,282 | 17,036 | |||||||||||||||||
| C33: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 0 | 0 | 0 | 0 | 0 | 0 | 6,408 | 6,449 | 12,857 | |||||||||||||||||
| Bundled licences billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 538,291.89 | |||||||||||||||||
| Bundled licences: vendor cost | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | distributor invoices | 55,539.59 | 55,723.08 | 57,075.79 | 57,176.08 | 56,180.58 | 56,178.4 | 57,775.93 | 58,080.45 | 453,729.9 | |||||||||||||||||
| Tickets logged | SERVICE DESK (PSA) | PSA | 1,903 | 1,831 | 1,874 | 1,844 | 1,788 | 1,748 | 1,792 | 1,601 | 14,381 | |||||||||||||||||
| SLA attainment (tickets inside response and resolution times) | SERVICE DESK (PSA) | PSA | 97.34% | 98.03% | 93.18% | 91.81% | 91.22% | 92.65% | 86.39% | 88.4% | 92.38% | |||||||||||||||||
| SLA credits for the month (credited on the next invoice) | SERVICE DESK (PSA) | credit notes | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 37,653.01 | |||||||||||||||||
| Annual licences billed | LICENCES, HARDWARE AND REBATES | billing system | 243,500 | 13,100 | 19,200 | 14,900 | 9,600 | 17,300 | 11,600 | 6,400 | 335,600 | |||||||||||||||||
| Licences resold as agent: gross billing | LICENCES, HARDWARE AND REBATES | billing system | 49,000 | 54,000 | 66,000 | 57,000 | 58,000 | 61,000 | 55,000 | 38,000 | 438,000 | |||||||||||||||||
| Hardware revenue | LICENCES, HARDWARE AND REBATES | ledger | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 1,575,000 | |||||||||||||||||
| Hardware cost of sales before rebates | LICENCES, HARDWARE AND REBATES | ledger | 161,634 | 171,587 | 195,328 | 175,473 | 184,652 | 208,012 | 170,912 | 105,633 | 1,373,231 | |||||||||||||||||
| Hardware stock at month end | LICENCES, HARDWARE AND REBATES | stock count | 73,904.6 | 76,268.62 | 91,851.66 | 86,610.7 | 79,426.39 | 93,242.97 | 77,430.33 | 52,742.81 | 0 | |||||||||||||||||
| Distributor rebate accrued | LICENCES, HARDWARE AND REBATES | CFO estimate on the quarterly tier | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 19,942.12 | |||||||||||||||||
| Licence incentive accrued: principal licences | LICENCES, HARDWARE AND REBATES | vendor statement | 7,217.99 | 1,970.37 | 2,150.03 | 2,055 | 1,904.3 | 2,079.79 | 1,997.76 | 1,888.33 | 21,263.57 | |||||||||||||||||
| Licence incentive accrued: licences resold as agent | LICENCES, HARDWARE AND REBATES | vendor statement | 1,300.95 | 1,433.7 | 1,752.3 | 1,513.35 | 1,539.9 | 1,619.55 | 1,460.25 | 1,008.9 | 11,628.9 | |||||||||||||||||
| J01: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 160 | 175 | 170 | 160 | 160 | 165 | 150 | 100 | 1,240 | |||||||||||||||||
| J01: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 980 | |||||||||||||||||
| J02: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 170 | 230 | 220 | 160 | 0 | 0 | 0 | 0 | 780 | |||||||||||||||||
| J02: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J03: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 110 | 150 | 150 | 140 | 90 | 0 | 640 | |||||||||||||||||
| J03: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J04: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 95 | 118 | 112 | 110 | 116 | 104 | 72 | 727 | |||||||||||||||||
| J04: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J05: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 132 | 140 | 146 | 138 | 142 | 144 | 136 | 96 | 1,074 | |||||||||||||||||
| J05: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J06: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 120 | 160 | 130 | 0 | 0 | 0 | 410 | |||||||||||||||||
| J06: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J07: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 0 | 95 | 130 | 85 | 310 | |||||||||||||||||
| J07: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J09: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 78 | 82 | 80 | 79 | 81 | 83 | 80 | 58 | 621 | |||||||||||||||||
| J09: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J10: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 95 | 225 | |||||||||||||||||
| J10: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J11: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 120 | 160 | 170 | 160 | 150 | 120 | 0 | 0 | 880 | |||||||||||||||||
| J11: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J12: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 90 | 120 | 95 | 0 | 305 | |||||||||||||||||
| J12: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J01: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 13,873.18 | 16,570.73 | 19,268.29 | 23,892.68 | 26,204.88 | -30,460.42 | 15,348.57 | 9,931.43 | 94,629.34 | |||||||||||||||||
| J01: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 63,200 | 0 | 0 | 0 | 0 | 63,200 | |||||||||||||||||
| J01: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 0 | |||||||||||||||||
| J02: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 13,948.72 | 18,871.79 | 18,051.28 | 13,128.21 | 0 | 0 | 0 | 0 | 64,000 | |||||||||||||||||
| J02: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 19,200 | 25,600 | 0 | 19,200 | 0 | 0 | 0 | 0 | 64,000 | |||||||||||||||||
| J02: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J03: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 8,937.5 | 12,187.5 | 12,187.5 | 11,375 | 7,312.5 | 0 | 52,000 | |||||||||||||||||
| J03: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 15,600 | 0 | 20,800 | 0 | 15,600 | 0 | 52,000 | |||||||||||||||||
| J03: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J04: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 49,436 | |||||||||||||||||
| J04: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 49,436 | |||||||||||||||||
| J04: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J05: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 64,440 | |||||||||||||||||
| J05: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 64,440 | |||||||||||||||||
| J05: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J06: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 32,000 | |||||||||||||||||
| J06: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 32,000 | |||||||||||||||||
| J06: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J07: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 0 | 7,680.85 | 10,510.64 | 6,872.34 | 25,063.83 | |||||||||||||||||
| J07: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 0 | 11,400 | 0 | 15,200 | 26,600 | |||||||||||||||||
| J07: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J09: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 39,744 | |||||||||||||||||
| J09: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 39,744 | |||||||||||||||||
| J09: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J10: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 0 | 0 | 10,400 | 7,600 | 18,000 | |||||||||||||||||
| J10: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 0 | 0 | 10,800 | 14,400 | 25,200 | |||||||||||||||||
| J10: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J11: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 9,818.18 | 13,090.91 | 13,909.09 | 13,090.91 | 12,272.73 | 9,818.18 | 0 | 0 | 72,000 | |||||||||||||||||
| J11: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 21,600 | 0 | 28,800 | 0 | 0 | 21,600 | 0 | 0 | 72,000 | |||||||||||||||||
| J11: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J12: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 24,000 | |||||||||||||||||
| J12: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 24,000 | |||||||||||||||||
| J12: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Service delivery: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 66,650 | 66,650 | 65,350 | 63,700 | 62,050 | 61,000 | 62,200 | 62,200 | 509,800 | |||||||||||||||||
| Service delivery: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 61,000 | 0 | 0 | 61,000 | |||||||||||||||||
| Service delivery: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Service delivery: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 15,829.38 | 15,829.38 | 15,520.62 | 15,128.75 | 14,736.88 | 28,975 | 14,772.5 | 14,772.5 | 135,565.01 | |||||||||||||||||
| Service delivery: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 7,331.5 | 7,331.5 | 7,188.5 | 7,007 | 6,825.5 | 13,420 | 6,842 | 6,842 | 62,788 | |||||||||||||||||
| Service delivery: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 8,583.08 | 8,583.08 | 8,463.11 | 8,258.79 | 8,054.47 | 15,510.96 | 7,851.7 | 7,851.7 | 73,156.89 | |||||||||||||||||
| Service delivery: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 8,249.2 | 8,159 | 7,960 | 7,417.8 | 7,478.4 | 7,227.6 | 6,988.8 | 6,302.4 | 59,783.2 | |||||||||||||||||
| Service delivery: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,011.83 | 2,011.83 | 1,966.17 | 1,916.85 | 1,867.53 | 1,856.5 | 1,901.1 | 1,901.1 | 15,432.91 | |||||||||||||||||
| Service delivery: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 50,735.42 | 50,735.42 | 49,698.39 | 48,434.21 | 47,170.03 | 93,069.04 | 47,506.3 | 47,506.3 | 434,855.11 | |||||||||||||||||
| Projects: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 27,200 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 232,650 | |||||||||||||||||
| Projects: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 29,350 | 0 | 0 | 29,350 | |||||||||||||||||
| Projects: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Projects: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 6,460 | 6,970.62 | 6,970.62 | 6,970.62 | 6,970.62 | 13,941.25 | 6,970.62 | 6,970.62 | 62,224.97 | |||||||||||||||||
| Projects: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,992 | 3,228.5 | 3,228.5 | 3,228.5 | 3,228.5 | 6,457 | 3,228.5 | 3,228.5 | 28,820 | |||||||||||||||||
| Projects: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 4,702.8 | 5,051.96 | 5,051.96 | 5,051.96 | 5,051.96 | 10,103.92 | 5,051.96 | 5,051.96 | 45,118.48 | |||||||||||||||||
| Projects: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,414.4 | 2,587 | 2,587 | 2,472.6 | 2,558.4 | 2,472.6 | 2,329.6 | 2,100.8 | 19,522.4 | |||||||||||||||||
| Projects: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 669.6 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 5,738.86 | |||||||||||||||||
| Projects: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 19,505.2 | 21,069.54 | 21,069.54 | 21,069.54 | 21,069.54 | 42,139.08 | 21,069.54 | 21,069.54 | 188,061.52 | |||||||||||||||||
| Sales and marketing: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 14,000 | 14,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 124,000 | |||||||||||||||||
| Sales and marketing: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 16,000 | 0 | 0 | 16,000 | |||||||||||||||||
| Sales and marketing: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Sales and marketing: commissions paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,104.84 | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 18,144.9 | |||||||||||||||||
| Sales and marketing: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 3,587.4 | 3,498.61 | 3,981.07 | 4,903.06 | 3,981.88 | 8,519.21 | 4,013.66 | 5,074.52 | 37,559.41 | |||||||||||||||||
| Sales and marketing: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,661.53 | 1,620.41 | 1,843.86 | 2,270.89 | 1,844.24 | 3,945.74 | 1,858.96 | 2,350.3 | 17,395.93 | |||||||||||||||||
| Sales and marketing: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,717.88 | 2,661.55 | 2,967.62 | 3,552.53 | 2,968.13 | 6,288.65 | 2,988.3 | 3,661.31 | 27,805.97 | |||||||||||||||||
| Sales and marketing: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,207.2 | 1,194 | 1,393 | 1,331.4 | 1,377.6 | 1,331.4 | 1,254.4 | 1,131.2 | 10,220.2 | |||||||||||||||||
| Sales and marketing: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 339 | 339 | 392 | 392 | 392 | 392 | 392 | 392 | 3,030 | |||||||||||||||||
| Sales and marketing: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 10,725.43 | 10,449.03 | 11,950.91 | 14,821.05 | 11,953.44 | 25,635.97 | 12,052.38 | 15,354.79 | 112,943 | |||||||||||||||||
| General and administrative: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 171,600 | |||||||||||||||||
| General and administrative: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 21,450 | 0 | 0 | 21,450 | |||||||||||||||||
| General and administrative: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| General and administrative: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 10,188.75 | 5,094.38 | 5,094.38 | 45,849.41 | |||||||||||||||||
| General and administrative: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 4,719 | 2,359.5 | 2,359.5 | 21,235.5 | |||||||||||||||||
| General and administrative: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 8,703.86 | 4,351.93 | 4,351.93 | 39,167.37 | |||||||||||||||||
| General and administrative: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,810.8 | 1,791 | 1,791 | 1,711.8 | 1,771.2 | 1,711.8 | 1,612.8 | 1,454.4 | 13,654.8 | |||||||||||||||||
| General and administrative: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 4,105.84 | |||||||||||||||||
| General and administrative: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 29,477.14 | 14,738.57 | 14,738.57 | 132,647.13 | |||||||||||||||||
| Headcount: Service desk analysts | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 0 | |||||||||||||||||
| Headcount: Support engineers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 12 | 12 | 12 | 11 | 10 | 10 | 10 | 10 | 0 | |||||||||||||||||
| Headcount: Systems engineers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 6 | 6 | 6 | 6 | 6 | 5 | 5 | 5 | 0 | |||||||||||||||||
| Headcount: Field technicians | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 6 | 6 | 5 | 5 | 5 | 6 | 6 | 6 | 0 | |||||||||||||||||
| Headcount: NOC and security analysts | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 0 | |||||||||||||||||
| Headcount: Service delivery managers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Project engineers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 0 | |||||||||||||||||
| Headcount: Project managers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Sales director | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Account managers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 0 | |||||||||||||||||
| Headcount: Presales engineer | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Marketing | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Directors (CEO and CTO, founders) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Finance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 0 | |||||||||||||||||
| Headcount: People and HR | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Procurement and logistics | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Office administration | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Commissions earned | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | commission statements | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 461.01 | 17,501.07 | |||||||||||||||||
| Service tooling invoice (USD) | DELIVERY COSTS, OVERHEADS AND CAPEX | vendor invoice | 22,632.54 | 22,681.16 | 23,112.28 | 23,160.22 | 22,810.7 | 22,847.76 | 23,386.32 | 23,441.74 | 184,072.72 | |||||||||||||||||
| Colocation and backup storage | DELIVERY COSTS, OVERHEADS AND CAPEX | supplier invoice | 8,856.6 | 8,856.6 | 8,883.6 | 8,885.4 | 8,870.1 | 8,871 | 8,900.7 | 8,902.5 | 71,026.5 | |||||||||||||||||
| Field vans: rental, fuel and tolls | DELIVERY COSTS, OVERHEADS AND CAPEX | direct debits | 5,636.01 | 5,397.13 | 4,560.78 | 4,836.18 | 4,674.39 | 5,555.41 | 5,465.7 | 5,641.87 | 41,767.47 | |||||||||||||||||
| Cabling and electrical subcontractors | DELIVERY COSTS, OVERHEADS AND CAPEX | supplier invoices | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 12,000 | |||||||||||||||||
| Office rent, Porto (VAT exempt; 25% IRC withheld) | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 84,000 | |||||||||||||||||
| Statutory audit, legal and tax advisers | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 4,238.97 | 4,194.22 | 12,151.32 | 4,122.45 | 4,050.77 | 4,306.92 | 3,980.83 | 4,029.51 | 41,074.99 | |||||||||||||||||
| Insurance (general liability, property, cyber) | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 15,200 | |||||||||||||||||
| Marketing and events | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 5,721.45 | 6,104.26 | 6,356.46 | 6,204.67 | 11,651.5 | 6,129.67 | 5,939.39 | 3,226.47 | 51,333.87 | |||||||||||||||||
| Training and certifications | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 3,760.19 | 3,786.21 | 3,761.17 | 3,893.49 | 3,796.58 | 3,623.46 | 3,822.18 | 3,812.14 | 30,255.42 | |||||||||||||||||
| Recruitment | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 404.52 | 2,528.86 | 2,601.49 | 387.16 | 399.43 | 2,520.56 | 2,643.47 | 397.58 | 11,883.07 | |||||||||||||||||
| Travel (VAT not recovered) | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 3,255.03 | 3,233.46 | 3,246.93 | 3,103.37 | 3,316.44 | 3,255.01 | 3,174.36 | 3,156.39 | 25,740.99 | |||||||||||||||||
| Telecoms and internal IT | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 4,317.95 | 4,386.24 | 4,056.41 | 3,876.23 | 4,219.65 | 4,256.38 | 4,126.14 | 4,313.73 | 33,552.73 | |||||||||||||||||
| Office services and utilities | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 2,842.61 | 2,764.22 | 2,772.09 | 2,659.64 | 2,737.06 | 2,713.85 | 2,662.66 | 2,769.61 | 21,921.74 | |||||||||||||||||
| Occupational health and safety | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 425.58 | 453.22 | 441.7 | 436.67 | 451.04 | 454.52 | 427.67 | 447.76 | 3,538.16 | |||||||||||||||||
| Capex: IT equipment | DELIVERY COSTS, OVERHEADS AND CAPEX | asset register | 1,800 | 3,100 | 12,900 | 1,800 | 1,800 | 3,100 | 3,100 | 1,800 | 29,400 | |||||||||||||||||
| Customer receipts: Portugal (incl. VAT) | RECEIPTS (bank) | bank | 858,639.12 | 855,237.39 | 696,752.39 | 683,693.77 | 729,320.38 | 690,855.75 | 685,015.9 | 671,031.68 | 5,870,546.38 | |||||||||||||||||
| Customer receipts: Spain | RECEIPTS (bank) | bank | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 781,520.28 | |||||||||||||||||
| Distributor rebate received | RECEIPTS (bank) | bank | 0 | 19,612.92 | 0 | 0 | 7,858.52 | 0 | 0 | 8,542.93 | 36,014.37 | |||||||||||||||||
| Licence incentive received | RECEIPTS (bank) | bank | 0 | 12,530.38 | 0 | 0 | 15,825.34 | 0 | 0 | 10,711.89 | 39,067.61 | |||||||||||||||||
| Hardware distributors (incl. VAT) | PAYMENTS (bank) | bank | 265,273.96 | 171,017.48 | 213,959.75 | 259,420.58 | 209,385.41 | 218,285.26 | 272,849.15 | 190,772.21 | 1,800,963.8 | |||||||||||||||||
| Licence distributor (incl. VAT) | PAYMENTS (bank) | bank | 193,719.66 | 349,276.45 | 139,566.97 | 159,995.68 | 146,302.45 | 141,212.09 | 151,673.02 | 141,778.32 | 1,423,524.64 | |||||||||||||||||
| Other suppliers (incl. VAT) | PAYMENTS (bank) | bank | 41,041.89 | 38,265.72 | 44,873.9 | 71,149.64 | 51,792.63 | 61,416.53 | 60,928.04 | 59,626.62 | 429,094.97 | |||||||||||||||||
| Service tooling vendor (EUR debited) | PAYMENTS (bank) | bank | 19,321.57 | 19,196.39 | 19,532.52 | 20,019.3 | 20,160.36 | 19,710.27 | 19,650.61 | 20,065.48 | 157,656.5 | |||||||||||||||||
| Social security (20th) | PAYMENTS (bank) | bank | 44,038.67 | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 408,784.58 | |||||||||||||||||
| IRS withheld (20th) | PAYMENTS (bank) | bank | 19,781.39 | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 184,113.2 | |||||||||||||||||
| IRC withheld on rent (20th) | PAYMENTS (bank) | bank | 2,560.97 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 20,935.97 | |||||||||||||||||
| VAT (25th of the second month) | PAYMENTS (bank) | bank | 72,032.56 | 63,480.47 | 55,311.12 | 43,816.63 | 38,392.7 | 61,335.95 | 46,260.95 | 0 | 380,630.38 | |||||||||||||||||
| IRC: balance for the prior year (Modelo 22) | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 0 | 0 | 105,752.96 | |||||||||||||||||
| IRC: payments on account | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 0 | 0 | 73,084.59 | 0 | 73,084.59 | |||||||||||||||||
| Loan principal | PAYMENTS (bank) | bank | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 266,666.64 | |||||||||||||||||
| Loan interest | PAYMENTS (bank) | bank | 4,752.58 | 4,640.22 | 4,699 | 4,704 | 4,652.08 | 4,578.67 | 4,477.92 | 4,409.78 | 36,914.25 | |||||||||||||||||
| Dividends declared (general meeting of 30 March 2026) | PAYMENTS (bank) | minutes | 0 | 0 | 360,000 | 0 | 0 | 0 | 0 | 0 | 360,000 | |||||||||||||||||
| Dividends paid (net of IRS withheld) | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 259,200 | 0 | 0 | 0 | 259,200 | |||||||||||||||||
| IRS withheld on dividends paid | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 100,800 |
| label | basis | section | format | kind | bold | value c | value d |
|---|---|---|---|---|---|---|---|
| Cash at bank | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 950,000 | |
| Receivables: customers in Portugal (incl. VAT) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,083,767.62 | |
| Receivables: customers in Spain | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 193,321.41 | |
| Hardware stock | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 96,500 | |
| Prepaid annual licence costs | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 64,600 | |
| Rebates and incentives receivable | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 32,143.3 | |
| Rent deposit | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 21,000 | |
| Contract assets: projects | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| IT equipment: cost | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 186,000 | |
| IT equipment: accumulated depreciation | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 121,000 | |
| Office fit-out: cost | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 140,000 | |
| Office fit-out: accumulated depreciation | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 84,000 | |
| Customer relationships: cost | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 480,000 | |
| Customer relationships: accumulated amortisation | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 105,000 | |
| Goodwill | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 920,000 | |
| Trade payables: hardware distributors | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 265,273.96 | |
| Trade payables: licence distributor | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 193,719.66 | |
| Trade payables: service tooling vendor (USD, at the December rate) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 19,311.67 | |
| Trade payables: other suppliers | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 41,041.89 | |
| Contract liabilities: annual licences billed ahead | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 85,000 | |
| Contract liabilities: projects billed ahead | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 33,912.2 | |
| Contract liabilities: onboarding fees deferred | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 8,056.25 | |
| SLA credits due to customers | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| VAT payable (November and December returns) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 135,513.03 | |
| Social security payable (December) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 44,038.67 | |
| IRS withheld payable (December) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 19,781.39 | |
| IRC withheld on rent payable | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 2,560.97 | |
| Commissions payable (incl. social security) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,367.24 | |
| Holiday pay and holiday allowance accrued (vested 1-Jan-26, incl. social security) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 320,017.5 | |
| Christmas allowance accrued | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| Corporate income tax payable (FY2025 balance) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 105,752.96 | |
| Bank term loan | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,300,000 | |
| IRS withheld on dividends payable | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| Onerous project provision | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| Share capital | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 50,000 | |
| Legal reserve | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 10,000 | |
| Retained earnings | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,221,984.94 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Office rent, Porto (VAT exempt; 25% IRC withheld) | OVERHEADS | no VAT or not recovered | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 126,000 | 129,150 |
| Statutory audit, legal and tax advisers | OVERHEADS | Portuguese VAT 23% recovered | 4,238.97 | 4,194.22 | 12,151.32 | 4,122.45 | 4,050.77 | 4,306.92 | 3,980.83 | 4,029.51 | 4,176 | 4,176 | 4,176 | 4,176 | 4,280.4 | 4,280.4 | 11,808 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 57,778.99 | 58,892.4 |
| Insurance (general liability, property, cyber) | OVERHEADS | no VAT or not recovered | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 22,800 | 23,370 |
| Marketing and events | OVERHEADS | Portuguese VAT 23% recovered | 5,721.45 | 6,104.26 | 6,356.46 | 6,204.67 | 11,651.5 | 6,129.67 | 5,939.39 | 3,226.47 | 6,045 | 11,700 | 6,045 | 6,045 | 6,196.125 | 6,196.125 | 6,196.125 | 6,196.125 | 11,992.5 | 6,196.125 | 6,196.125 | 3,331.25 | 6,196.125 | 11,992.5 | 6,196.125 | 6,196.125 | 81,168.87 | 83,081.375 |
| Training and certifications | OVERHEADS | Portuguese VAT 23% recovered | 3,760.19 | 3,786.21 | 3,761.17 | 3,893.49 | 3,796.58 | 3,623.46 | 3,822.18 | 3,812.14 | 3,800 | 3,800 | 3,800 | 3,800 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 45,455.42 | 46,740 |
| Recruitment | OVERHEADS | Portuguese VAT 23% recovered | 404.52 | 2,528.86 | 2,601.49 | 387.16 | 399.43 | 2,520.56 | 2,643.47 | 397.58 | 400 | 7,000 | 6,330.8333 | 1,914.2676 | 10,784.8873 | 2,035.6909 | 4,234.3832 | 4,330.9725 | 2,129.8991 | 4,354.4894 | 2,179.8813 | 2,179.2979 | 2,204.6752 | 2,204.3859 | 2,204.0932 | 2,204.1 | 27,528.171 | 41,046.756 |
| Travel (VAT not recovered) | OVERHEADS | no VAT or not recovered | 3,255.03 | 3,233.46 | 3,246.93 | 3,103.37 | 3,316.44 | 3,255.01 | 3,174.36 | 3,156.39 | 3,200 | 3,200 | 3,200 | 3,200 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 38,540.99 | 39,360 |
| Telecoms and internal IT | OVERHEADS | Portuguese VAT 23% recovered | 4,317.95 | 4,386.24 | 4,056.41 | 3,876.23 | 4,219.65 | 4,256.38 | 4,126.14 | 4,313.73 | 4,200 | 4,200 | 4,200 | 4,200 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 50,352.73 | 51,660 |
| Office services and utilities | OVERHEADS | Portuguese VAT 23% recovered | 2,842.61 | 2,764.22 | 2,772.09 | 2,659.64 | 2,737.06 | 2,713.85 | 2,662.66 | 2,769.61 | 2,700 | 2,700 | 2,700 | 2,700 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 32,721.74 | 33,210 |
| Occupational health and safety | OVERHEADS | no VAT or not recovered | 425.58 | 453.22 | 441.7 | 436.67 | 451.04 | 454.52 | 427.67 | 447.76 | 450 | 450 | 450 | 450 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 5,338.16 | 5,535 |
| TOTAL OVERHEADS | OVERHEADS | 37,366.3 | 39,850.69 | 47,787.57 | 37,083.68 | 43,022.47 | 39,660.37 | 39,176.7 | 34,553.19 | 37,371 | 49,626 | 43,301.8333 | 38,885.2676 | 48,680.1623 | 39,930.9659 | 49,657.2582 | 42,226.2475 | 45,821.5491 | 42,249.7644 | 40,075.1563 | 37,209.6979 | 40,099.9502 | 45,896.0359 | 40,099.3682 | 40,099.375 | 487,685.071 | 512,045.531 | |
| Endpoints under management (users x endpoints per user + devices) | DELIVERY COSTS (cost of revenue) | 5,333.1 | 5,347.4 | 5,474.2 | 5,488.3 | 5,385.5 | 5,396.4 | 5,554.8 | 5,571.1 | 5,582.2969 | 5,558.5392 | 5,926.0644 | 5,921.3722 | 6,006.8462 | 6,104.2871 | 6,059.8618 | 6,115.9351 | 6,122.1166 | 6,134.8177 | 6,141.7277 | 6,114.4867 | 6,127.1871 | 6,135.8612 | 6,138.793 | 6,151.5584 | 5,921.3722 | 6,151.5584 | |
| Service tooling invoice (USD): RMM, PSA, endpoint security, backup | DELIVERY COSTS (cost of revenue) | A: invoice; F: endpoints x price + platform fee | 22,632.54 | 22,681.16 | 23,112.28 | 23,160.22 | 22,810.7 | 22,847.76 | 23,386.32 | 23,441.74 | 23,479.8095 | 23,399.0332 | 24,648.6189 | 24,632.6656 | 24,923.2772 | 25,254.5762 | 25,103.5301 | 25,294.1795 | 25,315.1966 | 25,358.3801 | 25,381.8743 | 25,289.2548 | 25,332.4361 | 25,361.928 | 25,371.8962 | 25,415.2984 | 280,232.8471 | 303,401.8273 |
| SERVICE TOOLING (EUR at the rate of the month) | DELIVERY COSTS (cost of revenue) | USD / rate | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 20,483.1279 | 20,412.6609 | 21,502.7645 | 21,488.8472 | 21,742.3686 | 22,031.3846 | 21,899.6162 | 22,065.9334 | 22,084.2682 | 22,121.9403 | 22,142.4359 | 22,061.6372 | 22,099.3074 | 22,125.0353 | 22,133.7313 | 22,171.5942 | 242,255.6273 | 264,679.2527 |
| COLOCATION AND BACKUP STORAGE | DELIVERY COSTS (cost of revenue) | A: invoice; F: fixed + per device, x inflation | 8,856.6 | 8,856.6 | 8,883.6 | 8,885.4 | 8,870.1 | 8,871 | 8,900.7 | 8,902.5 | 8,903.7474 | 8,898.51 | 8,966.7861 | 8,964.2423 | 9,205.5881 | 9,227.8127 | 9,220.3289 | 9,231.6119 | 9,231.9291 | 9,233.3686 | 9,233.5042 | 9,227.229 | 9,228.6633 | 9,229.5382 | 9,228.0888 | 9,229.524 | 106,759.7858 | 110,727.1868 |
| FIELD VANS (rental, fuel, tolls) | DELIVERY COSTS (cost of revenue) | A: direct debits; F: (field technicians + pool van) x cost | 5,636.01 | 5,397.13 | 4,560.78 | 4,836.18 | 4,674.39 | 5,555.41 | 5,465.7 | 5,641.87 | 5,474.7 | 5,420.0452 | 5,421.328 | 5,421.9506 | 5,557.4766 | 5,557.4694 | 5,557.4698 | 6,367.2199 | 6,357.7728 | 6,348.4359 | 6,348.6551 | 6,348.7614 | 6,348.7576 | 6,348.7564 | 6,348.7565 | 6,348.7565 | 63,505.4938 | 73,838.2881 |
| Rent paid to the landlord, net of the IRC withheld (in the month) | RENT AND IRC WITHHELD ON RENT | rent x (1 - 25%) | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 94,500 | 96,862.5 |
| IRC withheld on rent | RENT AND IRC WITHHELD ON RENT | rent x 25% | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 31,500 | 32,287.5 |
| IRC withheld paid to the State (20th of the following month) | RENT AND IRC WITHHELD ON RENT | A: bank; F: prior month | 2,560.97 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 31,435.97 | 32,221.875 |
| IRC WITHHELD ON RENT PAYABLE | RENT AND IRC WITHHELD ON RENT | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,625 | 2,690.625 | |
| Insurance, travel, telecoms incl. VAT and field vans | DIRECT DEBITS (paid in the month) | 16,102.1185 | 15,925.6652 | 14,697.0943 | 14,607.3129 | 15,080.9995 | 15,945.7674 | 15,615.2122 | 16,004.1479 | 15,740.7 | 15,686.0452 | 15,687.328 | 15,687.9506 | 16,080.1266 | 16,080.1194 | 16,080.1198 | 16,889.8699 | 16,880.4228 | 16,871.0859 | 16,871.3051 | 16,871.4114 | 16,871.4076 | 16,871.4064 | 16,871.4065 | 16,871.4065 | 186,780.3417 | 200,110.0881 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex: IT equipment | A: register; F: hires x equipment + replacement | 1,800 | 3,100 | 12,900 | 1,800 | 1,800 | 3,100 | 3,100 | 1,800 | 1,800 | 5,700 | 5,304.5833 | 2,694.7945 | 7,930.6152 | 2,760.6355 | 4,059.8628 | 4,116.9383 | 2,816.304 | 4,130.8347 | 2,845.8389 | 2,845.4942 | 2,860.4899 | 2,860.3189 | 2,860.146 | 2,860.15 | 44,899.3778 | 42,947.6285 | |
| Depreciation of IT equipment held at 31-Dec-25 | register | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,000 | 0 | 0 | 0 | 37,200 | 27,800 | |
| Depreciation of additions (36 months) | 0 | 50 | 136.1111 | 494.4444 | 544.4444 | 594.4444 | 680.5556 | 766.6667 | 816.6667 | 866.6667 | 1,025 | 1,172.3495 | 1,247.2049 | 1,467.4998 | 1,544.1841 | 1,656.9581 | 1,771.3175 | 1,849.5482 | 1,964.2936 | 2,043.3446 | 2,122.3862 | 2,201.8442 | 2,281.2975 | 2,360.746 | 7,147.3495 | 22,510.6247 | ||
| Depreciation of the office fit-out | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 14,000.04 | 14,000.04 | ||
| DEPRECIATION | 4,266.67 | 4,316.67 | 4,402.7811 | 4,761.1144 | 4,811.1144 | 4,861.1144 | 4,947.2256 | 5,033.3367 | 5,083.3367 | 5,133.3367 | 5,291.67 | 5,439.0195 | 5,513.8749 | 5,734.1698 | 5,810.8541 | 5,923.6281 | 6,037.9875 | 6,116.2182 | 6,230.9636 | 6,310.0146 | 6,289.0562 | 3,368.5142 | 3,447.9675 | 3,527.416 | 58,347.3895 | 64,310.6647 | ||
| AMORTISATION: CUSTOMER RELATIONSHIPS | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 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 | 60,000 | ||
| DEPRECIATION AND AMORTISATION | 9,266.67 | 9,316.67 | 9,402.7811 | 9,761.1144 | 9,811.1144 | 9,861.1144 | 9,947.2256 | 10,033.3367 | 10,083.3367 | 10,133.3367 | 10,291.67 | 10,439.0195 | 10,513.8749 | 10,734.1698 | 10,810.8541 | 10,923.6281 | 11,037.9875 | 11,116.2182 | 11,230.9636 | 11,310.0146 | 11,289.0562 | 8,368.5142 | 8,447.9675 | 8,527.416 | 118,347.3895 | 124,310.6647 | ||
| IT EQUIPMENT AND FIT-OUT, NET BOOK VALUE | 118,533.33 | 117,316.66 | 125,813.8789 | 122,852.7644 | 119,841.65 | 118,080.5356 | 116,233.31 | 112,999.9733 | 109,716.6367 | 110,283.3 | 110,296.2133 | 107,551.9883 | 109,968.7286 | 106,995.1943 | 105,244.203 | 103,437.5132 | 100,215.8297 | 98,230.4462 | 94,845.3216 | 91,380.8012 | 87,952.2349 | 87,444.0397 | 86,856.2181 | 86,188.9521 | 107,551.9883 | 86,188.9521 | ||
| CUSTOMER RELATIONSHIPS, NET BOOK VALUE | 370,000 | 365,000 | 360,000 | 355,000 | 350,000 | 345,000 | 340,000 | 335,000 | 330,000 | 325,000 | 320,000 | 315,000 | 310,000 | 305,000 | 300,000 | 295,000 | 290,000 | 285,000 | 280,000 | 275,000 | 270,000 | 265,000 | 260,000 | 255,000 | 315,000 | 255,000 | ||
| GOODWILL (not amortised; impairment test each year) | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Output VAT: invoices to customers in Portugal | Receivables | 160,670.7831 | 119,238.3974 | 130,974.9139 | 138,341.3701 | 125,854.6039 | 128,906.1504 | 124,230.6746 | 100,403.6886 | 139,849.4727 | 143,095.425 | 161,154.9953 | 140,378.6727 | 184,111.6224 | 137,254.5968 | 146,515.6461 | 139,524.9265 | 140,141.851 | 149,980.5466 | 136,470.334 | 112,694.4448 | 153,470.2207 | 159,413.7224 | 150,028.8811 | 149,535.4586 | 1,613,099.1477 | 1,759,142.2509 | |
| Input VAT: hardware purchases | -31,978.878 | -40,008.7346 | -48,509.5392 | -39,153.3692 | -40,817.5687 | -51,020.5734 | -35,672.8528 | -18,617.4604 | -60,066.4751 | -54,540.0362 | -41,352.2458 | -38,514.628 | -34,826.5323 | -40,989.8058 | -44,394.4089 | -38,343.2765 | -42,061.8745 | -49,686.5705 | -33,907.8726 | -19,001.1838 | -60,893.501 | -54,540.0362 | -41,352.2458 | -38,514.628 | -500,252.3614 | -498,511.936 | ||
| Input VAT: licence distributor | -65,311.8557 | -26,097.8884 | -29,917.8917 | -27,357.3684 | -26,405.5134 | -28,361.622 | -26,511.3939 | -22,212.1235 | -29,828.7584 | -29,314.6489 | -30,595.8599 | -34,115.6898 | -68,664.2627 | -27,709.0393 | -31,027.5117 | -28,641.246 | -28,044.9171 | -30,177.3593 | -28,000.2923 | -23,735.889 | -31,764.8816 | -31,279.4918 | -31,656.3778 | -35,311.9759 | -376,030.614 | -396,013.2445 | ||
| Input VAT: other suppliers and telecoms | -8,068.9267 | -9,315.1403 | -14,154.7842 | -10,494.6792 | -12,370.5707 | -12,287.0232 | -12,018.7351 | -9,336.0542 | -10,036.7586 | -15,294.9055 | -13,615.3343 | -10,008.9841 | -13,590.8281 | -10,982.5175 | -13,691.398 | -11,898.141 | -12,301.1786 | -12,106.8442 | -10,886.8165 | -9,402.5002 | -11,194.3166 | -12,802.1576 | -11,318.7803 | -11,194.3041 | -137,001.8961 | -141,369.7826 | ||
| NET VAT FOR THE MONTH | 55,311.1227 | 43,816.6341 | 38,392.6988 | 61,335.9533 | 46,260.9511 | 37,236.9318 | 50,027.6928 | 50,238.0505 | 39,917.4807 | 43,945.8343 | 75,591.5554 | 57,739.3708 | 67,029.9993 | 57,573.2342 | 57,402.3275 | 60,642.2631 | 57,733.8808 | 58,009.7726 | 63,675.3526 | 60,554.8717 | 49,617.5215 | 60,792.0368 | 65,701.4772 | 64,514.5506 | 599,814.2762 | 723,247.2878 | ||
| VAT paid (25th of the second month; June and July in September) | A: bank; F: the return due | 72,032.56 | 63,480.47 | 55,311.12 | 43,816.63 | 38,392.7 | 61,335.95 | 46,260.95 | 0 | 87,264.6245 | 50,238.0505 | 39,917.4807 | 43,945.8343 | 75,591.5554 | 57,739.3708 | 67,029.9993 | 57,573.2342 | 57,402.3275 | 60,642.2631 | 57,733.8808 | 0 | 121,685.1252 | 60,554.8717 | 49,617.5215 | 60,792.0368 | 601,996.3701 | 726,362.1862 | |
| VAT PAYABLE | opening + net - paid | 118,791.5927 | 99,127.7568 | 82,209.3356 | 99,728.6589 | 107,596.91 | 83,497.8917 | 87,264.6345 | 137,502.685 | 90,155.5412 | 83,863.3249 | 119,537.3996 | 133,330.9361 | 124,769.38 | 124,603.2434 | 114,975.5716 | 118,044.6005 | 118,376.1538 | 115,743.6634 | 121,685.1352 | 182,240.0069 | 110,172.4032 | 110,409.5682 | 126,493.5239 | 130,216.0377 | 133,330.9361 | 130,216.0377 | |
| Check: payable equals the returns not yet paid (must be zero) | this month and last; three months at August | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Reverse charge on the USD tooling vendor (self-assessed and deducted: nets to zero) | memo | 4,448.3714 | 4,424.6538 | 4,577.8715 | 4,613.9893 | 4,566.9055 | 4,540.7282 | 4,626.1749 | 4,625.9976 | 4,711.1194 | 4,694.912 | 4,945.6358 | 4,942.4349 | 5,000.7448 | 5,067.2185 | 5,036.9117 | 5,075.1647 | 5,079.3817 | 5,088.0463 | 5,092.7603 | 5,074.1766 | 5,082.8407 | 5,088.7581 | 5,090.7582 | 5,099.4667 | 55,718.7943 | 60,876.2281 | |
| Services to Spanish businesses (recapitulative statement, by the 20th) | memo | 99,404.4578 | 57,334.2251 | 89,918.7627 | 59,081.5023 | 58,185.8501 | 81,321.2466 | 58,036.8924 | 52,758.8533 | 62,980.9058 | 60,778.286 | 61,273.9762 | 63,370.712 | 90,205.3198 | 65,105.7157 | 67,939.3006 | 70,836.2047 | 67,948.5408 | 71,084.7258 | 67,347.7989 | 60,920.0666 | 71,382.5631 | 72,797.1888 | 72,133.0208 | 73,964.327 | 804,445.6702 | 851,664.7728 | |
| Hardware delivered to Spanish businesses (exempt intra-EU supply) | memo | 22,320 | 23,640 | 26,880 | 24,120 | 25,440 | 28,560 | 23,520 | 14,520 | 29,452.8 | 31,948.8 | 26,707.2 | 24,460.8 | 21,964.8 | 22,963.2 | 26,208 | 23,712 | 24,960 | 27,955.2 | 22,963.2 | 14,976 | 29,452.8 | 31,948.8 | 26,707.2 | 24,460.8 | 301,569.6 | 298,272 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit before tax | PL | 31,963.5996 | 43,133.9524 | 62,391.0208 | 75,497.446 | 55,155.1549 | 372.3181 | 57,547.3151 | 38,158.4445 | 84,477.4322 | 79,900.7707 | 74,003.8888 | 88,543.1963 | 54,041.5966 | 66,068.9462 | 66,392.3303 | 74,560.3508 | 63,374.0259 | 85,538.6151 | 78,308.2131 | 58,608.761 | 86,647.369 | 90,183.0634 | 84,584.0822 | 90,169.8925 | 691,144.5394 | 898,477.2462 | |
| Taxable profit year to date (no tax adjustments modelled) | 31,963.5996 | 75,097.552 | 137,488.5728 | 212,986.0188 | 268,141.1738 | 268,513.4918 | 326,060.8069 | 364,219.2514 | 448,696.6837 | 528,597.4544 | 602,601.3431 | 691,144.5394 | 54,041.5966 | 120,110.5428 | 186,502.8731 | 261,063.2239 | 324,437.2499 | 409,975.865 | 488,284.0781 | 546,892.839 | 633,540.2081 | 723,723.2715 | 808,307.3537 | 898,477.2462 | 691,144.5394 | 898,477.2462 | ||
| IRC general rate | timeline | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 19% | 18% | |
| IRC year to date (SME rate on the first EUR 50,000) | 4,794.5399 | 12,268.5349 | 24,122.8288 | 38,467.3436 | 48,946.823 | 49,017.5634 | 59,951.5533 | 67,201.6578 | 83,252.3699 | 98,433.5163 | 112,494.2552 | 129,317.4625 | 8,227.4874 | 20,119.8977 | 32,070.5172 | 45,491.3803 | 56,898.705 | 72,295.6557 | 86,391.1341 | 96,940.711 | 112,537.2375 | 128,770.1889 | 143,995.3237 | 160,225.9043 | 129,317.4625 | 160,225.9043 | ||
| Derrama year to date | taxable profit x 1.5% | 479.454 | 1,126.4633 | 2,062.3286 | 3,194.7903 | 4,022.1176 | 4,027.7024 | 4,890.9121 | 5,463.2888 | 6,730.4503 | 7,928.9618 | 9,039.0201 | 10,367.1681 | 810.6239 | 1,801.6581 | 2,797.5431 | 3,915.9484 | 4,866.5587 | 6,149.638 | 7,324.2612 | 8,203.3926 | 9,503.1031 | 10,855.8491 | 12,124.6103 | 13,477.1587 | 10,367.1681 | 13,477.1587 | |
| Tax year to date | 5,273.9939 | 13,394.9982 | 26,185.1574 | 41,662.1339 | 52,968.9406 | 53,045.2658 | 64,842.4654 | 72,664.9465 | 89,982.8202 | 106,362.4781 | 121,533.2753 | 139,684.6306 | 9,038.1113 | 21,921.5559 | 34,868.0603 | 49,407.3287 | 61,765.2637 | 78,445.2937 | 93,715.3952 | 105,144.1036 | 122,040.3406 | 139,626.0379 | 156,119.934 | 173,703.063 | 139,684.6306 | 173,703.063 | ||
| CHARGE FOR THE MONTH (P&L) | 5,273.9939 | 8,121.0042 | 12,790.1593 | 15,476.9764 | 11,306.8068 | 76.3252 | 11,797.1996 | 7,822.4811 | 17,317.8736 | 16,379.658 | 15,170.7972 | 18,151.3552 | 9,038.1113 | 12,883.4445 | 12,946.5044 | 14,539.2684 | 12,357.9351 | 16,680.0299 | 15,270.1016 | 11,428.7084 | 16,896.237 | 17,585.6974 | 16,493.896 | 17,583.129 | 139,684.6306 | 173,703.063 | ||
| Payments on account (July, September, December) | A: bank; F: 95% of the prior-year IRC / 3 | 0 | 0 | 0 | 0 | 0 | 0 | 73,084.59 | 0 | 73,084.5925 | 0 | 0 | 73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | 40,950.5298 | 0 | 40,950.5298 | 0 | 0 | 40,950.5298 | 219,253.775 | 122,851.5894 | |
| Balance for the prior year paid with the Modelo 22 | A: bank; F: May 2027, if tax exceeds the payments on account | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 0 | |
| Overpayment refunded | F: month on Assumptions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 79,569.1444 | 0 | 0 | 0 | 0 | 79,569.1444 | |
| Tax paid less refunds (cash) | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 73,084.59 | 0 | 73,084.5925 | 0 | 0 | 73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | 40,950.5298 | 0 | -38,618.6146 | 0 | 0 | 40,950.5298 | 325,006.735 | 43,282.4449 | ||
| IRC PAYABLE / (RECOVERABLE) | opening + charge - paid + refunded | 111,026.9539 | 119,147.9582 | 131,938.1174 | 147,415.0939 | 158,721.9006 | 53,045.2658 | -8,242.1246 | -419.6435 | -56,186.3623 | -39,806.7044 | -24,635.9072 | -79,569.1444 | -70,531.0331 | -57,647.5886 | -44,701.0842 | -30,161.8158 | -17,803.8807 | -1,123.8508 | -26,804.279 | -15,375.5706 | 40,139.281 | 57,724.9784 | 74,218.8744 | 50,851.4737 | -79,569.1444 | 50,851.4737 | |
| Effective tax rate on profit before tax (year to date) | 16.5% | 17.84% | 19.05% | 19.56% | 19.75% | 19.76% | 19.89% | 19.95% | 20.05% | 20.12% | 20.17% | 20.21% | 16.72% | 18.25% | 18.7% | 18.93% | 19.04% | 19.13% | 19.19% | 19.23% | 19.26% | 19.29% | 19.31% | 19.33% | 20.21% | 19.33% |
| label | basis | section | format | kind | bold | value c | value d |
|---|---|---|---|---|---|---|---|
| December 2026 payment on account if paid in full | helper: single value in column C | int | calc | False | 73,084.5925 | ||
| December 2026 payment on account if limited under CIRC art. 107 | helper: single value in column C | int | calc | False | 0 | ||
| Cash kept in December by limiting it | helper: single value in column C | int | calc | False | 73,084.5925 |
| 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 | TERM LOAN | 1,300,000 | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | |||
| Principal repaid | TERM LOAN | A: bank; F: instalment | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 399,999.96 | 399,999.96 |
| Interest | TERM LOAN | A: bank; F: opening x (Euribor + margin) / 12 | 4,752.58 | 4,640.22 | 4,699 | 4,704 | 4,652.08 | 4,578.67 | 4,477.92 | 4,409.78 | 4,305.5557 | 4,166.6668 | 4,027.7779 | 3,888.889 | 3,750.0002 | 3,611.1113 | 3,472.2224 | 3,333.3335 | 3,194.4447 | 3,055.5558 | 2,916.6669 | 2,777.778 | 2,638.8892 | 2,500.0003 | 2,361.1114 | 2,222.2225 | 53,303.1394 | 35,833.3363 |
| BANK LOAN | TERM LOAN | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | 500,000.08 | 900,000.04 | 500,000.08 | |
| EBITDA, last twelve months | COVENANTS (last twelve months; FY2025 months from History) | PL + History | 1,307,358.2296 | 1,275,766.6768 | 1,250,110.7037 | 1,231,630.5849 | 1,205,368.4414 | 1,087,361.5332 | 1,047,270.9771 | 1,022,278.5942 | 988,275.7729 | 943,728.937 | 898,938.2537 | 863,221.5886 | 885,534.3108 | 909,002.0508 | 912,889.7608 | 911,629.002 | 919,517.5735 | 1,004,561.7008 | 1,025,136.7705 | 1,045,280.087 | 1,046,652.1927 | 1,053,502.9965 | 1,060,572.8209 | 1,058,621.2472 | 863,221.5886 | 1,058,621.2472 |
| Net debt (loan less cash) | COVENANTS (last twelve months; FY2025 months from History) | 185,380.9685 | 42,077.1665 | -85,102.2166 | -88,962.9097 | -17,907.7153 | 219,520.3326 | 346,998.4193 | 191,280.4772 | 194,096.8125 | 219,168.5068 | 244,310.3585 | 195,774.5168 | 91,741.753 | -10,004.2267 | -173,624.3529 | -246,953.3247 | -389,478.0159 | -367,687.9355 | -331,248.576 | -557,624.4757 | -667,478.2634 | -640,808.8581 | -664,977.9267 | -704,217.3896 | 195,774.5168 | -704,217.3896 | |
| Net debt / EBITDA | COVENANTS (last twelve months; FY2025 months from History) | at most the covenant | 0.1418 | 0.033 | -0.0681 | -0.0722 | -0.0149 | 0.2019 | 0.3313 | 0.1871 | 0.1964 | 0.2322 | 0.2718 | 0.2268 | 0.1036 | -0.011 | -0.1902 | -0.2709 | -0.4236 | -0.366 | -0.3231 | -0.5335 | -0.6377 | -0.6083 | -0.627 | -0.6652 | 0.2268 | -0.6652 |
| Tax paid less refunds, last twelve months | COVENANTS (last twelve months; FY2025 months from History) | Tax + History | 163,950 | 163,950 | 163,950 | 163,950 | 142,500 | 248,252.96 | 273,837.55 | 273,837.55 | 299,422.1425 | 299,422.1425 | 299,422.1425 | 325,006.735 | 325,006.735 | 325,006.735 | 325,006.735 | 325,006.735 | 325,006.735 | 219,253.775 | 187,119.7148 | 187,119.7148 | 75,416.5076 | 75,416.5076 | 75,416.5076 | 43,282.4449 | 325,006.735 | 43,282.4449 |
| Capex, last twelve months | COVENANTS (last twelve months; FY2025 months from History) | Fixed_Assets + History | 30,400 | 30,900 | 41,200 | 40,400 | 39,600 | 40,100 | 40,600 | 39,800 | 39,000 | 42,100 | 44,804.5833 | 44,899.3778 | 51,029.9931 | 50,690.6286 | 41,850.4914 | 44,167.4297 | 45,183.7337 | 46,214.5684 | 45,960.4073 | 47,005.9016 | 48,066.3914 | 45,226.7104 | 42,782.273 | 42,947.6285 | 44,899.3778 | 42,947.6285 |
| Debt service (principal and interest), last twelve months | COVENANTS (last twelve months; FY2025 months from History) | 465,940.04 | 464,399.7 | 463,041.76 | 461,812.43 | 460,654.79 | 459,547.35 | 458,462.77 | 457,433.66 | 456,423.9357 | 455,398.9325 | 454,358.6504 | 453,303.0994 | 452,300.5196 | 451,271.4109 | 450,044.6333 | 448,673.9668 | 447,216.3315 | 445,693.2173 | 444,131.9642 | 442,499.9622 | 440,833.2957 | 439,166.6292 | 437,499.9628 | 435,833.2963 | 453,303.0994 | 435,833.2963 | |
| Debt service cover: (EBITDA - tax - capex) / debt service | COVENANTS (last twelve months; FY2025 months from History) | at least the covenant | 2.3887 | 2.3276 | 2.2567 | 2.2245 | 2.2213 | 1.7387 | 1.5985 | 1.5492 | 1.4238 | 1.3224 | 1.2209 | 1.0883 | 1.1265 | 1.1818 | 1.2133 | 1.209 | 1.2283 | 1.6583 | 1.7834 | 1.8331 | 2.0941 | 2.1242 | 2.154 | 2.2311 | 1.0883 | 2.2311 |
| Covenant test (June and December) | COVENANTS (last twelve months; FY2025 months from History) | MET | BREACH | MET | MET | |||||||||||||||||||||||
| Headroom: EBITDA that could be lost before the DSCR covenant breaks | COVENANTS (last twelve months; FY2025 months from History) | 553,880.1816 | 523,637.0368 | 489,310.5917 | 473,105.6689 | 470,482.6934 | 247,551.7532 | 182,678.1031 | 159,720.6522 | 102,144.9076 | 55,728.0756 | 9,481.1474 | -50,648.2436 | -33,263.0408 | -8,221.0059 | 5,978.9745 | 4,046.0771 | 12,667.507 | 204,261.4967 | 259,098.2913 | 280,154.516 | 394,169.3388 | 405,859.8233 | 417,374.085 | 449,391.2182 | -50,648.2436 | 449,391.2182 | |
| Dividends declared (general meeting in March) | DIVIDENDS | A: minutes; F: March 2027 = payout x FY2026 net profit, within the loan cap, if the December test is met | 0 | 0 | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 360,000 | 0 |
| Dividends paid, net of 28% IRS (May) | DIVIDENDS | A: bank; F: May 2027 | 0 | 0 | 0 | 0 | 259,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 259,200 | 0 |
| IRS withheld on dividends paid | DIVIDENDS | net / (1 - 28%) x 28% | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 |
| DIVIDENDS PAYABLE | DIVIDENDS | opening + declared - paid - withheld | 0 | 0 | 360,000 | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| IRS on dividends paid to the State (20th of the following month) | DIVIDENDS | A: bank; F: prior month | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 |
| IRS WITHHELD ON DIVIDENDS PAYABLE | DIVIDENDS | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Share capital | DIVIDENDS | opening balance | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 |
| Legal reserve (complete at 20% of share capital) | DIVIDENDS | opening balance | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| label | basis | section | format | kind | bold | value c | value d |
|---|---|---|---|---|---|---|---|
| Debt service cover at Dec-26 with the December payment on account limited (art. 107) | helper: single value in column C | COVENANTS (last twelve months; FY2025 months from History) | x | calc | False | 1.2495 | |
| Debt service cover at Dec-26 with the December payment on account paid in full | helper: single value in column C | COVENANTS (last twelve months; FY2025 months from History) | x | calc | False | 1.0883 |
CFO decisions & actions
Base · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| Risk | Likelihood | Impact | Score | Mitigation and owner |
|---|---|---|---|---|
| Covenant: debt service cover at the December test is 1.09x with the December payment on account paid in full and 1.25x if it is limited, against 1.20x; a breach lets the bank call the loan and blocks the 2027 dividend | 4 | 4 | 16 | Election under CIRC art. 107 with the tax adviser; bank briefed before the test; waiver request drafted for the Downside; CEO and BriQs CFO |
| Renewal of Brevanor Têxteis in March 2027: 10.0% of managed services revenue, EUR 277k a year, approached by a competitor during the J01 overrun | 3 | 5 | 15 | J01 closed on the revised estimate; executive sponsor meetings monthly; renewal proposal by November; CEO and account manager |
| Service desk capacity: utilisation 98% in July, SLA credits EUR 38k year to date; Pesqueras Morazal renews in December after two breaches | 4 | 3 | 12 | October and November hires; Venara onboarding phased over two months; SLA recovery plan for Pesqueras Morazal; Service delivery director |
| Project delivery: J01 lost EUR 17k at standard cost; estimates at completion are reviewed monthly, not weekly | 3 | 3 | 9 | Weekly estimate review on fixed-fee projects above EUR 50k; subcontractor caps in the statement of work; Project director |
| Project pipeline: this case needs EUR 90k a month of project revenue against EUR 67k a month so far this year | 3 | 3 | 9 | Pipeline review every two weeks; presales capacity on the three largest renewals; Sales director |
| Hardware and rebates: demand below 2025 and the distributor rebate at tier 1 all year (EUR 66k short of tier 2 in the fourth quarter) | 3 | 2 | 6 | Quarterly purchasing plan against the tiers; consolidated January orders; Procurement lead |
| Collections: Spanish customers pay at about 55 days and the J11 milestone is disputed | 2 | 2 | 4 | Direct debit mandates on renewal; acceptance criteria signed before the final milestone; Finance lead |
| Key people: service desk attrition of 14% a year in a tight Porto market | 4 | 3 | 12 | Retention review for engineers; certification path; salary benchmark before the January pay review; Directors |
| Regulation from January 2027: qualified electronic signature on PDF invoices and the new social security payment window | 2 | 2 | 4 | System changes tested in November; Finance lead |
| USD tooling cost: platforms billed in dollars (a 10% stronger dollar costs about EUR 26k a year) | 2 | 1 | 2 | Budget at a prudent rate; review the vendor contract currency at renewal; Finance lead |
| Action | Owner | Due | Status | Measure of done |
|---|---|---|---|---|
| Elect to limit the 15 December IRC payment on account under CIRC art. 107 (EUR 73k), with the tax adviser confirming the FY2026 estimate | Finance lead with the tax adviser | 2026-11-30 | Open | Payment of 15 December limited; December covenant test met |
| Brief the bank on the December covenant test, with this forecast and the Downside waiver request ready | CEO and BriQs CFO | 2026-10-31 | Open | Meeting held; bank position in writing |
| Service desk hiring: three hires in October, two in November; the Venara onboarding phased over two months if the tender is won | Service delivery director | 2026-10-15 | In progress | Offers accepted; onboarding plan signed off |
| Brevanor Têxteis renewal plan: J01 close-out, service review and renewal proposal | CEO and account manager | 2026-11-30 | Open | Proposal presented; renewal signed by February |
| Pesqueras Morazal: SLA recovery report and renewal price position | Account manager | 2026-10-31 | Open | Recovery report sent; renewal signed before December |
| J01: weekly estimate at completion review and a cap on the data migration subcontractor | Project director | 2026-10-15 | In progress | Weekly review minuted; subcontractor hours capped |
| J11: acceptance test rerun and collection of the final milestone | Project manager and Finance lead | 2026-10-31 | In progress | Acceptance signed; final milestone received |
| Fourth-quarter hardware purchasing plan against the distributor tiers | Procurement lead and Finance lead | 2026-10-31 | Open | Plan agreed; tier position reviewed monthly |
| Qualified electronic signature on invoices and the social security payment window from January 2027 | Finance lead | 2026-11-30 | Open | Test invoices signed; payroll calendar updated |
| Monthly contract margin review from the Contract_Register, with a repricing list for the 2027 renewals | BriQs CFO | 2026-10-15 | Open | Repricing list approved by the directors |
4. How the model works
Inputs_Actuals holds the actual months (users, devices and fees by contract, bundled licences, tickets, SLA attainment and credits, annual and agent licence billings, hardware revenue, cost and stock, rebates and incentives, project hours, revenue, billing and provisions, payroll by department, headcount by band, commissions, delivery costs, overheads, capex, receipts and payments) and the opening balance sheet. History holds FY2025 by month and the fees by contract. The Contract_Register holds every contract and pipeline deal with terms, prices, growth and renewal or win probabilities by scenario; the Project_Register holds every project with fee or rate, dates and the estimate at completion. Assumptions holds Portuguese tax and payroll rates, pay bands, the IRS withholding table, service desk rates, prices, overheads, the timeline and the scenario drivers (selector in Assumptions!C11). Contracts, Service_Desk, Projects, Hardware, Licences and Rebates run the operations; Revenue consolidates. People runs Portuguese payroll by band. Receivables, Payables, VAT, Tax, Overheads, Fixed_Assets and Financing roll every flow and balance. PL, BS and CF link only to schedules. BvA, Scenarios, Cash_13W, KPIs, Margins, the agings and CFO_Report are reporting layers.
5. Methods an IT services CFO will look for
| Area | Treatment |
|---|---|
| Managed service contracts | Fees = (users x price per user + devices x price per device) x a price index that moves at each anniversary by the price review and at each 36-month renewal by the renewal price change; renewals and pipeline deals are expected values at their probability. Net and gross revenue retention on a trailing twelve months by contract. |
| SLA credits | Variable consideration (IFRS 15.50 to 59): estimated from the SLA attainment of the month, reducing revenue then, deducted from the next invoice; the liability equals the credits of the month (checked). |
| Service desk capacity | Tickets from users and devices x seasonality, hours by priority, proactive work and onboarding hours against FTE x productive hours; SLA attainment falls above an 80% utilisation knee (fitted to the PSA data), which drives the credits; FTE needed at the knee shown every month. |
| Onboarding fees | Not a distinct service: recognised over the 36-month term (IFRS 15.B48 to B51), checked against a contract-by-contract schedule. |
| Principal or agent | Hardware (bought, held, configured, priced by the company) and bundled and annual licences (integrated, provisioned and supported by the company) as principal; standard licences delivered by the manufacturer as agent at the net commission (IFRS 15.B34 to B38; IFRIC agenda decision on software resellers, 2022). |
| Annual licence deferrals | Billed a year ahead; revenue and the prepaid vendor cost over 12 months, each proved against a billing schedule. |
| Vendor rebates | Distributor rebate tiered on quarterly purchases for the whole quarter, accrued at the rate the quarter is expected to earn with a catch-up when the tier changes, reducing the cost of hardware (IAS 2.11); licence incentives reduce licence cost or add to agent revenue. |
| Projects | Fixed fee over time on hours to date over hours at completion (IFRS 15.B18 to B19) with the cumulative catch-up when the estimate changes (IFRS 15.88); milestone billing and contract assets and liabilities by project; onerous contract provision for the unavoidable loss at standard cost (IAS 37.66 to 69 and 68A). |
| Commissions | 6% of the first-year fees of a new contract capitalised with its social security and amortised over the 36-month term (IFRS 15.91 and 99). The IFRS 15.94 expedient is not available because the amortisation period exceeds one year; with no commission on renewals the asset could also relate to expected renewals, and the model uses the initial term as the more prudent period. The hardware commission is expensed. |
| Payroll | 14 salaries; holiday pay, holiday allowance and Christmas allowance accrued as the work is done (IAS 19), with the holiday accrual revalued for the January pay review; TSU and IRS on what is paid; meal card and insurance. |
| Covenants and dividends | Net debt to EBITDA and debt service cover on the last twelve months with FY2025 from History, tested at June and December; dividends only when the December test is met, capped at 50% of the prior-year profit. |
| Budget vs actual | Revenue variance by cause (the lost contract, contracts won, existing contracts, SLA credits and each resale and project stream), reconciled to the P&L; EBITDA walk from budget to actual. |
7. Assumptions (company judgements, labelled in the workbook)
- Contracts: user growth by contract on the register x 1.0 in the Base (0.5 Downside, 1.3 Upside); price reviews of 3.0% at anniversaries from September (1.5% and 3.5%); renewal probabilities by contract and scenario; the Venara hospital group at 55% from November 2026 in the Base.
- Service desk: 0.42 tickets per user and 0.17 per device a month, 0.951 hours per ticket on average, 126 productive hours per FTE a month, SLA attainment 98.5% up to 80% utilisation falling 0.65 points per point above; credits of 5% of the fee on the share of fees in breach.
- Hiring: twelve hires from October 2026 to June 2027 (five on the service desk in October and November), attrition by department (14% a year on the service desk), leavers replaced after two months; pay review 3.0% in January 2027.
- Hardware at a run-rate of EUR 208k a month before seasonality and a 12.8% margin before rebates; project revenue topped up to EUR 90k a month from October (EUR 65k Downside, EUR 110k Upside); annual licence billings 4% above the same month a year earlier.
- Collections at 38 days in Portugal and 55 in Spain (15 more in the Downside); the disputed J11 milestone collected in October in the Base.
- USD per EUR 1.1463 from September in the Base; Euribor 3M 2.75% (the Base driver from September).
- The December 2026 IRC payment on account is paid in full in the Base as built (switch on Assumptions); the report quantifies the limit under CIRC art. 107. An FY2026 overpayment is assumed refunded in September 2027.
- Work accident insurance at 0.90% of pay until the policy rate is received; 2027 IRS tables assumed equal to 2026.
- Opening balances at 31-Dec-25 are fictional FY2025 accounts. Taxable profit equals profit before tax; no deferred tax; the office lease is expensed as rent (IFRS 16 not applied).
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.
- Set the art. 107 switch on Assumptions to 1 to limit the December 2026 payment on account; the covenant test, the dividend and the cash forecast follow (refresh the snapshots afterwards).
- Blue on yellow cells are inputs; black are formulas; green link other sheets. Actual data is typed only on Inputs_Actuals, History, the two registers and Budget_FY26.
- The month-end procedure is on the Guide sheet: enter the month, move the last actual month on Assumptions, update the registers and the 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)
| Measure | Value |
|---|---|
| YTD Aug-26 revenue vs budget | EUR 4,783k against EUR 5,239k; 8.7% below budget and 10.6% below the same months of 2025 |
| YTD EBITDA vs budget | EUR 479k against EUR 813k |
| Revenue variance by cause, YTD | Traslovia Transportes not renewed (EUR 34k); contracts won against budget (EUR 8k); existing contracts EUR 1k; SLA credits (EUR 30k); licences (EUR 11k); hardware (EUR 133k); projects (EUR 240k) |
| FY2026 revenue, gross margin, EBITDA, net profit | EUR 7,532k (10.2% below FY2025), 27.3%, EUR 863k against EUR 1,357k budgeted and EUR 1,340k in FY2025, EUR 551k |
| Managed services | Fees EUR 237k a month at Aug-26 (3,951 users, 1,225 devices, 32 contracts); net revenue retention 100.9%, gross 96.2%; EUR 1,304k of annual fees reach renewal in the next twelve months |
| Service desk | Utilisation 98% in July; SLA credits EUR 38k to Aug-26 against EUR 8k budgeted; 37 FTE against about 44 needed at the knee |
| Projects | J01 estimate at completion raised in June to 3,500 hours, June catch-up (EUR 30k), loss at completion (EUR 17k) at standard cost; signed backlog EUR 237k |
| Margins FY2026 by service line | Managed services 35%, hardware after rebates 14%, licence resale 41%, projects 25%; by contract 21% (Colégios Maravel) to 48% (Valcorra Advogados) |
| Covenant at the December 2026 test | Debt service cover 1.09x with the December IRC payment on account paid in full, 1.25x if it is limited under CIRC art. 107 (minimum 1.20x); net debt 0.23x EBITDA |
| Cash | EUR 842k at Aug-26; 13-week low EUR 742k in the week ending 4 Dec 2026; lowest month-end EUR 689k in Nov-26, EUR 289k above the EUR 400k board buffer |
| Scenario (negatives in brackets) | FY2027 revenue | FY2027 EBITDA | Debt service cover Dec-26 / Dec-27 | Lowest month-end cash | Headroom over the buffer |
|---|---|---|---|---|---|
| Base | EUR 8,204k (8.9% above FY2026) | EUR 1,059k | 1.09x / 2.23x | EUR 689k in Nov-26 | EUR 289k |
| Downside | EUR 6,995k (3.4% below FY2026) | EUR 443k | 0.77x / 0.96x | EUR 208k in Feb-27 | (EUR 192k) |
| Upside | EUR 8,915k (15.7% above FY2026) | EUR 1,478k | 1.29x / 3.13x | EUR 697k in Nov-26 | EUR 297k |
The story: FY2025 was a hardware refresh year; FY2026 lands 8.3% below budget with EBITDA of EUR 863k against EUR 1,357k budgeted. Traslovia Transportes left at its April renewal for a remote-only competitor. Four people left the service desk in the spring and two were replaced, so utilisation reached 98% in July and SLA credits reached EUR 38k against EUR 8k budgeted. The J01 ERP migration needed a specialist subcontractor and turned loss-making in June, and the distributor rebate stayed at tier 1. The binding constraint is the loan covenant: 2026 pays the FY2025 IRC balance and payments on account set on the strong FY2025 profit, so the December test fails at 1.09x unless the December payment on account is limited under CIRC art. 107, which lifts cover to 1.25x and keeps EUR 73k in the bank. The Downside (50% chance of losing Brevanor Têxteis at its March 2027 renewal, weaker hardware and projects, customers 15 days slower) breaks the covenant at both December tests and takes cash EUR 192k below the buffer in Feb-27.
| Measure | Unit | Base | Downside | Upside |
|---|---|---|---|---|
| FY2026 revenue (outlook) | EUR | 7,532,111.1807 | 7,245,282.7847 | 7,707,989.1607 |
| FY2027 revenue | EUR | 8,204,438.4955 | 6,995,470.3781 | 8,915,038.8811 |
| FY2027 revenue growth | % | 8.93% | -3.45% | 15.66% |
| Managed service fees (MRR) in Dec-27 | EUR | 269,292.494 | 227,998.2147 | 287,722.5039 |
| Net revenue retention at Dec-27 | % | 102.77% | 91.97% | 106.01% |
| FY2027 service desk utilisation | % | 81.42% | 78.12% | 85.34% |
| FY2027 SLA credits | EUR | 4,196.2001 | 3,362.5808 | 21,714.0797 |
| FY2026 gross margin % | % | 27.3% | 26.26% | 27.84% |
| FY2027 gross margin % | % | 28.48% | 24.01% | 31% |
| FY2026 EBITDA | EUR | 863,221.5886 | 715,709.2303 | 951,583.7906 |
| FY2027 EBITDA | EUR | 1,058,621.2472 | 443,381.6515 | 1,478,356.9908 |
| FY2027 net profit | EUR | 724,774.1832 | 228,351.6732 | 1,064,680.6653 |
| FY2027 project gross margin | EUR | 337,759.9292 | 95,834.6951 | 545,763.1223 |
| Cash at 31-Dec-26 | EUR | 704,225.5232 | 221,531.9938 | 745,697.6212 |
| Cash at 31-Dec-27 | EUR | 1,204,217.4696 | 236,172.2048 | 1,330,212.1501 |
| Lowest month-end cash, Sep-26 to Dec-27 | EUR | 689,023.0115 | 208,464.7586 | 696,587.1026 |
| Month of the lowest cash | month | 2026-11-30 | 2027-02-28 | 2026-11-30 |
| Headroom at the lowest point over the board buffer (negative = below) | EUR | 289,023.0115 | -191,535.2414 | 296,587.1026 |
| Net debt / EBITDA at Dec-26 (covenant at most 2.5x) | x | 0.2268 | 0.948 | 0.1622 |
| Debt service cover at Dec-26 (covenant at least 1.2x) | x | 1.0883 | 0.7653 | 1.2865 |
| Debt service cover at Dec-27 | x | 2.2311 | 0.9617 | 3.1325 |
| Dividend paid in May 2027, net of IRS | EUR | 0 | 0 | 201,879.2839 |
| Headcount at Dec-27 | number | 78.369 | 73.6892 | 78.369 |
P&L & budget
Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | REVENUE (IFRS 15) | Revenue | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,266.7012 | 233,740.5615 | 232,773.8197 | 231,297.656 | 239,469.9345 | 238,805.1718 | 229,494.9436 | 230,424.6147 | 229,877.65 | 231,779.0408 | 231,605.405 | 228,246.7092 | 228,519.4262 | 228,419.1838 | 227,702.1096 | 227,998.2147 | 2,770,094.6485 | 2,772,342.4039 |
| Managed services: SLA credits (variable consideration) | REVENUE (IFRS 15) | Revenue | 0 | 0 | -3,235.73 | -4,841.71 | -5,441.04 | -3,820.12 | -11,314.01 | -9,000.4 | -8,071.9185 | -876.0721 | 0 | 0 | -3,362.5808 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -46,601.0005 | -3,362.5808 |
| Managed services: onboarding fees recognised | REVENUE (IFRS 15) | Revenue | 293.75 | 293.75 | 393.75 | 393.75 | 476.25 | 476.25 | 611.25 | 611.25 | 611.25 | 611.25 | 611.25 | 611.25 | 821.25 | 821.25 | 866.25 | 910 | 910 | 941.25 | 941.25 | 941.25 | 941.25 | 941.25 | 941.25 | 941.25 | 5,995 | 10,917.5 |
| Licences bundled in managed contracts (principal) | REVENUE (IFRS 15) | Revenue | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 68,923.8818 | 67,902.8192 | 67,670.2516 | 67,332.8931 | 72,078.2168 | 71,922.9529 | 68,811.9392 | 69,132.8239 | 69,015.307 | 69,544.9484 | 69,474.0281 | 68,437.4427 | 68,517.6406 | 68,464.7196 | 68,295.732 | 68,375.753 | 810,121.7357 | 832,071.504 |
| Annual security and backup licences (principal, over 12 months) | REVENUE (IFRS 15) | Revenue | 33,625 | 33,716.6667 | 33,816.6667 | 33,891.6667 | 33,941.6667 | 34,050 | 34,100 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 407,808.3333 | 409,600 |
| Licences resold as agent: commission and vendor incentive (net) | REVENUE (IFRS 15) | Revenue | 6,935.95 | 7,643.7 | 9,342.3 | 8,068.35 | 8,209.9 | 8,634.55 | 7,785.25 | 5,378.9 | 7,351.0383 | 7,831.9473 | 8,381.5577 | 9,068.5706 | 5,633.506 | 6,045.7137 | 7,419.7396 | 6,389.2202 | 6,595.3241 | 7,007.5318 | 6,320.5189 | 4,396.8827 | 7,351.0383 | 7,831.9473 | 8,381.5577 | 9,068.5706 | 94,632.0139 | 82,441.551 |
| Hardware (principal) | REVENUE (IFRS 15) | Revenue | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 208,624 | 226,304 | 189,176 | 173,264 | 155,584 | 162,656 | 185,640 | 167,960 | 176,800 | 198,016 | 162,656 | 106,080 | 208,624 | 226,304 | 189,176 | 173,264 | 2,372,368 | 2,112,760 |
| Projects | REVENUE (IFRS 15) | Revenue | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 85,800.8838 | 75,400 | 71,500 | 62,850 | 61,750 | 64,350 | 68,900 | 66,300 | 63,050 | 71,500 | 60,450 | 39,000 | 68,250 | 75,400 | 71,500 | 68,250 | 830,864.0538 | 778,700 |
| REVENUE | REVENUE (IFRS 15) | 565,487.86 | 596,889.5867 | 653,538.0567 | 633,432.8067 | 632,143.3767 | 602,238.1 | 602,404.58 | 496,657.4933 | 634,639.1699 | 645,047.8394 | 604,246.2123 | 578,557.7031 | 566,107.6599 | 578,734.4218 | 595,266.2057 | 575,249.9921 | 580,381.6144 | 612,922.1044 | 565,580.5354 | 481,235.618 | 616,336.6884 | 641,494.434 | 600,129.9826 | 582,031.1216 | 7,245,282.7847 | 6,995,470.3781 | |
| Hardware cost net of distributor rebates | COST OF REVENUE | Hardware | -159,548.42 | -168,977.73 | -192,164.33 | -172,919.52 | -181,989.98 | -204,684.57 | -168,585.51 | -104,418.82 | -181,361.4703 | -197,210.5511 | -165,094.2323 | -151,171.7601 | -135,732.4569 | -141,644.4236 | -161,793.7165 | -146,487.3605 | -154,101.5477 | -172,448.733 | -143,950.56 | -93,880.8 | -184,632.24 | -197,210.5511 | -165,094.2323 | -151,171.7601 | -2,048,126.8937 | -1,848,148.3816 |
| Licence cost net of vendor incentives | COST OF REVENUE | Licences | -73,876.6 | -79,377.3767 | -80,626.4267 | -80,878.7467 | -80,071.9467 | -79,976.61 | -81,694.17 | -82,133.4533 | -81,859.8143 | -81,183.5874 | -81,061.611 | -80,489.0543 | -79,391.7068 | -84,517.7301 | -81,832.0198 | -82,192.7313 | -82,217.3736 | -82,475.3704 | -82,547.276 | -81,817.3024 | -81,527.2712 | -81,643.5508 | -81,573.6201 | -81,342.7241 | -963,229.397 | -983,078.6765 |
| Service tooling (USD platforms) | COST OF REVENUE | Overheads | -19,340.7452 | -19,237.6251 | -19,903.7892 | -20,060.8229 | -19,856.1107 | -19,742.2967 | -20,113.8041 | -20,113.033 | -21,722.9396 | -21,465.5065 | -21,403.3106 | -21,310.0712 | -21,972.139 | -21,929.7452 | -21,217.8809 | -21,303.0117 | -21,273.688 | -21,405.6472 | -21,384.7024 | -21,129.1578 | -21,146.8285 | -21,134.2506 | -21,081.1105 | -21,098.7322 | -244,270.0547 | -256,076.894 |
| Colocation and backup storage | COST OF REVENUE | Overheads | -8,856.6 | -8,856.6 | -8,883.6 | -8,885.4 | -8,870.1 | -8,871 | -8,900.7 | -8,902.5 | -8,903.1237 | -8,887.5397 | -8,882.9723 | -8,875.4838 | -9,137.2881 | -9,133.6439 | -9,100.9408 | -9,107.744 | -9,105.7956 | -9,114.5181 | -9,112.3904 | -9,096.116 | -9,096.7597 | -9,096.0661 | -9,090.0489 | -9,090.6883 | -106,575.6195 | -109,282 |
| Field vans | COST OF REVENUE | Overheads | -5,636.01 | -5,397.13 | -4,560.78 | -4,836.18 | -4,674.39 | -5,555.41 | -5,465.7 | -5,641.87 | -5,485.76 | -5,441.9329 | -5,431.6949 | -5,421.2427 | -5,545.8458 | -5,534.9464 | -5,524.0738 | -6,120.5386 | -6,104.0476 | -6,087.6344 | -6,075.5497 | -6,063.4623 | -6,051.3728 | -6,039.3116 | -6,027.2784 | -6,015.2728 | -63,548.1005 | -71,189.3343 |
| Subcontractors (specialists and cabling) | COST OF REVENUE | Projects | -3,140 | -4,780 | -8,060 | -13,800 | -16,260 | -17,900 | -17,080 | -11,340 | -13,636 | -16,592.5735 | -16,122.2794 | -5,857.5765 | -6,861.4706 | -9,297.3529 | -9,846.0294 | -9,532.5 | -9,140.5882 | -10,159.5588 | -8,827.0588 | -6,240.4412 | -9,767.6471 | -10,629.8529 | -10,159.5588 | -9,767.6471 | -144,568.4294 | -110,229.7059 |
| Onerous project provision: movement (IAS 37) | COST OF REVENUE | Projects | 0 | 0 | 0 | 0 | 0 | -10,147.14 | 4,731.43 | 2,908.57 | -1,868.7138 | 2,187.9269 | 2,187.9269 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Service delivery payroll | COST OF REVENUE | People | -110,061.0737 | -109,146.08 | -106,970.92 | -100,776 | -100,722.3112 | -96,649.6 | -94,329.375 | -87,485.175 | -98,534.2081 | -105,700.5072 | -110,676.7515 | -109,027.2951 | -115,867.6085 | -114,614.714 | -115,871.9766 | -113,324.8434 | -115,983.545 | -114,763.8635 | -109,521.8079 | -101,333.1039 | -114,934.3269 | -117,627.6152 | -118,340.5681 | -113,161.4962 | -1,230,079.2968 | -1,365,345.4693 |
| Project team payroll | COST OF REVENUE | People | -43,812.6 | -46,895.93 | -46,895.93 | -45,328.705 | -46,504.1237 | -45,328.705 | -43,369.6738 | -40,235.2237 | -45,415.7029 | -46,272.7303 | -46,584.7063 | -45,991.9004 | -49,967.1396 | -49,458.2987 | -49,363.5632 | -47,635.8763 | -48,790.0703 | -47,478.8576 | -45,352.7258 | -42,006.8381 | -47,652.4134 | -48,796.3799 | -49,122.7202 | -47,010.7161 | -542,635.9311 | -572,635.599 |
| TOTAL COST OF REVENUE | COST OF REVENUE | -424,272.0489 | -442,668.4718 | -468,065.7759 | -447,485.3745 | -458,948.9624 | -488,855.3317 | -434,807.5028 | -357,361.5051 | -458,787.7326 | -480,567.0017 | -453,069.6313 | -428,144.3841 | -424,475.6552 | -436,130.8549 | -454,550.2009 | -435,704.6057 | -446,716.6561 | -463,934.1831 | -426,772.0711 | -361,567.2216 | -474,808.8595 | -492,177.5783 | -460,489.1373 | -438,659.0368 | -5,343,033.7229 | -5,315,986.0607 | |
| GROSS PROFIT | COST OF REVENUE | revenue - cost of revenue | 141,215.8111 | 154,221.1149 | 185,472.2808 | 185,947.4321 | 173,194.4143 | 113,382.7683 | 167,597.0772 | 139,295.9882 | 175,851.4373 | 164,480.8377 | 151,176.581 | 150,413.319 | 141,632.0047 | 142,603.5668 | 140,716.0048 | 139,545.3864 | 133,664.9583 | 148,987.9213 | 138,808.4643 | 119,668.3963 | 141,527.8288 | 149,316.8557 | 139,640.8453 | 143,372.0847 | 1,902,249.0618 | 1,679,484.3175 |
| Gross margin % of revenue | COST OF REVENUE | 24.97% | 25.84% | 28.38% | 29.36% | 27.4% | 18.83% | 27.82% | 28.05% | 27.71% | 25.5% | 25.02% | 26% | 25.02% | 24.64% | 23.64% | 24.26% | 23.03% | 24.31% | 24.54% | 24.87% | 22.96% | 23.28% | 23.27% | 24.63% | 26.26% | 24.01% | |
| Sales and marketing payroll incl. commissions | OPERATING EXPENSES | People | -23,414.0377 | -23,266.4576 | -26,739.534 | -25,769.1759 | -26,581.8215 | -26,039.6315 | -24,949.317 | -22,881.2249 | -25,939.9711 | -26,396.3561 | -26,387.726 | -25,980.536 | -29,304.1729 | -29,015.2719 | -29,082.0423 | -28,071.9163 | -28,732.7152 | -28,109.395 | -26,751.3009 | -24,624.9806 | -28,186.636 | -28,876.8512 | -28,877.6174 | -27,614.5626 | -304,345.7894 | -337,247.4624 |
| General and administrative payroll | OPERATING EXPENSES | People | -34,442.7237 | -34,157.48 | -34,157.48 | -33,016.505 | -33,872.2363 | -33,016.505 | -31,590.2863 | -29,308.3363 | -33,168.5368 | -33,884.7617 | -34,134.3853 | -33,725.7872 | -34,713.8035 | -34,392.1998 | -34,358.0131 | -33,177.757 | -34,003.5004 | -33,111.8306 | -31,650.5554 | -29,335.9879 | -33,298.2912 | -34,119.6553 | -34,370.2775 | -32,914.8364 | -398,475.0236 | -399,446.7081 |
| Office rent, Porto | OPERATING EXPENSES | Overheads | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -126,000 | -129,150 |
| Statutory audit, legal and tax advisers | OPERATING EXPENSES | Overheads | -4,238.97 | -4,194.22 | -12,151.32 | -4,122.45 | -4,050.77 | -4,306.92 | -3,980.83 | -4,029.51 | -4,176 | -4,176 | -4,176 | -4,176 | -4,280.4 | -4,280.4 | -11,808 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -57,778.99 | -58,892.4 |
| Insurance | OPERATING EXPENSES | Overheads | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -22,800 | -23,370 |
| Marketing and events | OPERATING EXPENSES | Overheads | -5,721.45 | -6,104.26 | -6,356.46 | -6,204.67 | -11,651.5 | -6,129.67 | -5,939.39 | -3,226.47 | -6,045 | -11,700 | -6,045 | -6,045 | -6,196.125 | -6,196.125 | -6,196.125 | -6,196.125 | -11,992.5 | -6,196.125 | -6,196.125 | -3,331.25 | -6,196.125 | -11,992.5 | -6,196.125 | -6,196.125 | -81,168.87 | -83,081.375 |
| Training and certifications | OPERATING EXPENSES | Overheads | -3,760.19 | -3,786.21 | -3,761.17 | -3,893.49 | -3,796.58 | -3,623.46 | -3,822.18 | -3,812.14 | -3,800 | -3,800 | -3,800 | -3,800 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -45,455.42 | -46,740 |
| Recruitment | OPERATING EXPENSES | Overheads | -404.52 | -2,528.86 | -2,601.49 | -387.16 | -399.43 | -2,520.56 | -2,643.47 | -397.58 | -400 | -5,350 | -4,618.5 | -1,310.5485 | -7,947.3181 | -1,368.2485 | -3,015.8295 | -3,057.3469 | -1,404.9119 | -3,064.0325 | -1,423.348 | -1,421.0093 | -1,430.3062 | -1,428.0313 | -1,425.7611 | -1,423.577 | -23,562.1185 | -28,409.7205 |
| Travel | OPERATING EXPENSES | Overheads | -3,255.03 | -3,233.46 | -3,246.93 | -3,103.37 | -3,316.44 | -3,255.01 | -3,174.36 | -3,156.39 | -3,200 | -3,200 | -3,200 | -3,200 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -38,540.99 | -39,360 |
| Telecoms and internal IT | OPERATING EXPENSES | Overheads | -4,317.95 | -4,386.24 | -4,056.41 | -3,876.23 | -4,219.65 | -4,256.38 | -4,126.14 | -4,313.73 | -4,200 | -4,200 | -4,200 | -4,200 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -50,352.73 | -51,660 |
| Office services and utilities | OPERATING EXPENSES | Overheads | -2,842.61 | -2,764.22 | -2,772.09 | -2,659.64 | -2,737.06 | -2,713.85 | -2,662.66 | -2,769.61 | -2,700 | -2,700 | -2,700 | -2,700 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -32,721.74 | -33,210 |
| Occupational health and safety | OPERATING EXPENSES | Overheads | -425.58 | -453.22 | -441.7 | -436.67 | -451.04 | -454.52 | -427.67 | -447.76 | -450 | -450 | -450 | -450 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -5,338.16 | -5,535 |
| TOTAL OPERATING EXPENSES | OPERATING EXPENSES | -95,223.0615 | -97,274.6276 | -108,684.584 | -95,869.3609 | -103,476.5277 | -98,716.5065 | -95,716.3032 | -86,742.7511 | -96,479.5079 | -108,257.1179 | -102,111.6114 | -97,987.8717 | -109,860.5695 | -102,670.9953 | -111,878.7598 | -102,202.2952 | -107,832.7776 | -102,180.5332 | -97,720.4794 | -90,412.3778 | -100,810.5084 | -108,116.1879 | -102,568.931 | -99,848.251 | -1,186,539.8315 | -1,236,102.666 | |
| EBITDA | OPERATING EXPENSES | 45,992.7496 | 56,946.4873 | 76,787.6968 | 90,078.0713 | 69,717.8865 | 14,666.2618 | 71,880.7739 | 52,553.2371 | 79,371.9294 | 56,223.7198 | 49,064.9697 | 52,425.4472 | 31,771.4352 | 39,932.5716 | 28,837.245 | 37,343.0912 | 25,832.1807 | 46,807.3882 | 41,087.9849 | 29,256.0185 | 40,717.3204 | 41,200.6678 | 37,071.9143 | 43,523.8337 | 715,709.2303 | 443,381.6515 | |
| EBITDA % of revenue | OPERATING EXPENSES | 8.13% | 9.54% | 11.75% | 14.22% | 11.03% | 2.44% | 11.93% | 10.58% | 12.51% | 8.72% | 8.12% | 9.06% | 5.61% | 6.9% | 4.84% | 6.49% | 4.45% | 7.64% | 7.26% | 6.08% | 6.61% | 6.42% | 6.18% | 7.48% | 9.88% | 6.34% | |
| Depreciation and amortisation (incl. customer relationships) | BELOW EBITDA | Fixed_Assets | -9,266.67 | -9,316.67 | -9,402.7811 | -9,761.1144 | -9,811.1144 | -9,861.1144 | -9,947.2256 | -10,033.3367 | -10,083.3367 | -10,133.3367 | -10,264.5867 | -10,383.8297 | -10,448.7756 | -10,622.4942 | -10,688.223 | -10,780.9955 | -10,874.4494 | -10,940.78 | -11,034.3437 | -11,100.9769 | -11,067.5718 | -8,134.3192 | -8,201.0293 | -8,267.7022 | -118,265.1164 | -122,161.6609 |
| EBIT | BELOW EBITDA | 36,726.0796 | 47,629.8173 | 67,384.9157 | 80,316.9568 | 59,906.7721 | 4,805.1473 | 61,933.5484 | 42,519.9004 | 69,288.5928 | 46,090.3831 | 38,800.383 | 42,041.6175 | 21,322.6596 | 29,310.0774 | 18,149.022 | 26,562.0957 | 14,957.7313 | 35,866.6081 | 30,053.6412 | 18,155.0416 | 29,649.7486 | 33,066.3486 | 28,870.8849 | 35,256.1315 | 597,444.114 | 321,219.9906 | |
| Interest on the bank loan | BELOW EBITDA | Financing | -4,752.58 | -4,640.22 | -4,699 | -4,704 | -4,652.08 | -4,578.67 | -4,477.92 | -4,409.78 | -4,736.1112 | -4,583.3335 | -4,430.5557 | -4,277.7779 | -4,125.0002 | -3,972.2224 | -3,819.4447 | -3,666.6669 | -3,513.8891 | -3,361.1114 | -3,208.3336 | -3,055.5558 | -2,902.7781 | -2,750.0003 | -2,597.2226 | -2,444.4448 | -54,942.0284 | -39,416.6699 |
| Exchange differences on the USD tooling vendor | BELOW EBITDA | Payables | -9.9 | 144.3552 | -294.8949 | -115.5108 | -99.5371 | 145.8407 | 91.6867 | 48.3241 | -1,592.2818 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,681.9179 | 0 |
| PROFIT BEFORE TAX | BELOW EBITDA | 31,963.5996 | 43,133.9524 | 62,391.0208 | 75,497.446 | 55,155.1549 | 372.3181 | 57,547.3151 | 38,158.4445 | 62,960.1997 | 41,507.0497 | 34,369.8273 | 37,763.8396 | 17,197.6594 | 25,337.8549 | 14,329.5773 | 22,895.4288 | 11,443.8422 | 32,505.4968 | 26,845.3076 | 15,099.4857 | 26,746.9706 | 30,316.3483 | 26,273.6624 | 32,811.6867 | 540,820.1677 | 281,803.3207 | |
| Corporate income tax (IRC) and derrama | BELOW EBITDA | Tax | -5,273.9939 | -8,121.0042 | -12,790.1593 | -15,476.9764 | -11,306.8068 | -76.3252 | -11,797.1996 | -7,822.4811 | -12,906.8409 | -8,508.9452 | -7,045.8146 | -7,741.5871 | -2,837.6138 | -4,180.7461 | -2,570.333 | -4,464.6086 | -2,231.5492 | -6,338.5719 | -5,234.835 | -2,944.3997 | -5,215.6593 | -5,911.6879 | -5,123.3642 | -6,398.2789 | -108,868.1344 | -53,451.6475 |
| NET PROFIT | BELOW EBITDA | 26,689.6056 | 35,012.9482 | 49,600.8615 | 60,020.4696 | 43,848.3482 | 295.9929 | 45,750.1155 | 30,335.9634 | 50,053.3588 | 32,998.1045 | 27,324.0127 | 30,022.2525 | 14,360.0456 | 21,157.1089 | 11,759.2443 | 18,430.8202 | 9,212.293 | 26,166.9249 | 21,610.4726 | 12,155.086 | 21,531.3113 | 24,404.6604 | 21,150.2982 | 26,413.4078 | 431,952.0333 | 228,351.6732 | |
| Net profit % of revenue | BELOW EBITDA | 4.72% | 5.87% | 7.59% | 9.48% | 6.94% | 0.05% | 7.59% | 6.11% | 7.89% | 5.12% | 4.52% | 5.19% | 2.54% | 3.66% | 1.98% | 3.2% | 1.59% | 4.27% | 3.82% | 2.53% | 3.49% | 3.8% | 3.52% | 4.54% | 5.96% | 3.26% | |
| Revenue: managed services | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 288,374.83 | 289,887.79 | 294,708.93 | 294,421.49 | 289,342.7 | 291,699.94 | 293,395.62 | 297,373.49 | 298,729.9145 | 301,378.5587 | 301,055.3213 | 299,241.7991 | 309,006.8205 | 311,549.3747 | 299,173.1328 | 300,467.4386 | 299,802.957 | 302,265.2392 | 302,020.6831 | 297,625.4019 | 297,978.3167 | 297,825.1534 | 296,939.0915 | 297,315.2176 | 3,539,610.3836 | 3,611,968.8271 | |
| Revenue: licence resale | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 40,560.95 | 41,360.3667 | 43,158.9667 | 41,960.0167 | 42,151.5667 | 42,684.55 | 41,885.25 | 39,512.2333 | 41,484.3716 | 41,965.2807 | 42,514.891 | 43,201.9039 | 39,766.8393 | 40,179.0471 | 41,553.0729 | 40,522.5535 | 40,728.6574 | 41,140.8652 | 40,453.8522 | 38,530.2161 | 41,484.3716 | 41,965.2807 | 42,514.891 | 43,201.9039 | 502,440.3473 | 492,041.551 | |
| Revenue: hardware | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 208,624 | 226,304 | 189,176 | 173,264 | 155,584 | 162,656 | 185,640 | 167,960 | 176,800 | 198,016 | 162,656 | 106,080 | 208,624 | 226,304 | 189,176 | 173,264 | 2,372,368 | 2,112,760 | |
| Revenue: projects | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 85,800.8838 | 75,400 | 71,500 | 62,850 | 61,750 | 64,350 | 68,900 | 66,300 | 63,050 | 71,500 | 60,450 | 39,000 | 68,250 | 75,400 | 71,500 | 68,250 | 830,864.0538 | 778,700 | |
| Payroll cost, all teams incl. commissions | SERVICE LINE AND FUNCTIONAL VIEW (memo) | -211,730.4353 | -213,465.9476 | -214,763.864 | -204,890.3859 | -207,680.4928 | -201,034.4415 | -194,238.652 | -179,909.9599 | -203,058.4188 | -212,254.3553 | -217,783.5691 | -214,725.5188 | -229,852.7245 | -227,480.4845 | -228,675.5951 | -222,210.3929 | -227,509.8309 | -223,463.9468 | -213,276.3901 | -197,300.9105 | -224,071.6675 | -229,420.5016 | -230,711.1832 | -220,701.6113 | -2,475,536.0409 | -2,674,675.2388 | |
| Payroll % of revenue | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 37.44% | 35.76% | 32.86% | 32.35% | 32.85% | 33.38% | 32.24% | 36.22% | 32% | 32.91% | 36.04% | 37.11% | 40.6% | 39.31% | 38.42% | 38.63% | 39.2% | 36.46% | 37.71% | 41% | 36.36% | 35.76% | 38.44% | 37.92% | 34.17% | 38.23% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: contracts live at 31-Dec-25 (excl. Traslovia) | REVENUE | budget input | 214,188.67 | 215,052.94 | 216,315.48 | 217,357.96 | 218,029.89 | 218,522.01 | 219,356.41 | 220,698.45 | 221,181.83 | 222,268.65 | 223,010.78 | 223,587.32 | 2,629,570.39 |
| Managed services: Traslovia Transportes (renewal assumed) | REVENUE | budget input | 8,257.05 | 8,264.11 | 8,271.17 | 8,278.24 | 8,500.73 | 8,508 | 8,515.27 | 8,522.55 | 8,529.84 | 8,537.13 | 8,544.43 | 8,551.74 | 101,280.26 |
| Managed services: four new contracts (March, May, July, September) | REVENUE | budget input | 0 | 0 | 5,820 | 5,820 | 11,640 | 11,640 | 17,460 | 17,460 | 23,280 | 23,280 | 23,280 | 23,280 | 162,960 |
| Managed services: fees | REVENUE | 222,445.72 | 223,317.05 | 230,406.65 | 231,456.2 | 238,170.62 | 238,670.01 | 245,331.68 | 246,681 | 252,991.67 | 254,085.78 | 254,835.21 | 255,419.06 | 2,893,810.65 | |
| Managed services: SLA credits (variable consideration) | REVENUE | budget input | -889.78 | -893.27 | -921.63 | -925.82 | -952.68 | -954.68 | -981.33 | -986.72 | -1,011.97 | -1,016.34 | -1,019.34 | -1,021.68 | -11,575.24 |
| Managed services: onboarding fees recognised | REVENUE | budget input | 293.75 | 293.75 | 406.25 | 406.25 | 518.75 | 518.75 | 631.25 | 631.25 | 743.75 | 743.75 | 743.75 | 743.75 | 6,675 |
| Licences bundled in managed contracts (principal) | REVENUE | budget input | 65,918.34 | 66,057.65 | 67,765.57 | 67,905.59 | 69,614.21 | 69,754.93 | 71,464.26 | 71,605.7 | 73,315.74 | 73,457.9 | 73,600.41 | 73,743.28 | 844,203.58 |
| Annual security and backup licences (principal, over 12 months) | REVENUE | budget input | 33,283.33 | 33,333.33 | 33,408.33 | 33,466.67 | 33,504.17 | 33,570.83 | 33,616.67 | 33,641.67 | 33,733.33 | 33,795.83 | 33,845.83 | 33,950 | 403,149.99 |
| Licences resold as agent: commission and vendor incentive (net) | REVENUE | budget input | 7,360.6 | 7,785.25 | 10,050.05 | 8,209.9 | 8,493 | 9,059.2 | 8,068.35 | 5,803.55 | 9,342.3 | 10,191.6 | 11,040.9 | 13,588.8 | 108,993.5 |
| Hardware (principal) | REVENUE | budget input | 194,328.98 | 204,943.59 | 238,420.43 | 218,824.23 | 229,438.84 | 268,631.24 | 213,925.18 | 139,622.92 | 272,713.78 | 294,759.5 | 246,585.51 | 227,805.82 | 2,750,000.02 |
| Projects | REVENUE | budget input | 96,078.75 | 101,082.85 | 108,088.6 | 104,085.32 | 99,081.21 | 112,091.88 | 94,077.11 | 61,050.04 | 107,087.78 | 118,096.8 | 112,091.88 | 107,087.78 | 1,220,000 |
| REVENUE | REVENUE | 618,819.69 | 635,920.2 | 687,624.25 | 663,428.34 | 677,868.12 | 731,342.16 | 666,133.17 | 558,049.41 | 748,916.38 | 784,114.82 | 731,724.15 | 711,316.81 | 8,215,257.5 | |
| Hardware cost net of distributor rebates | COST OF REVENUE (costs negative) | budget input | -164,271.14 | -173,243.94 | -201,542.75 | -184,977.59 | -193,950.38 | -227,080.7 | -180,836.3 | -118,026.75 | -230,531.77 | -249,167.58 | -208,444.9 | -192,569.95 | -2,324,643.75 |
| Licence cost net of vendor incentives | COST OF REVENUE (costs negative) | budget input | -73,796.8 | -79,119.88 | -80,431.32 | -80,686.03 | -82,232.88 | -82,231.16 | -83,784.93 | -84,039.41 | -85,125.85 | -85,457.29 | -85,683.77 | -85,568.67 | -988,157.99 |
| Service tooling (USD platforms) | COST OF REVENUE (costs negative) | budget input | -19,690.58 | -19,720.27 | -20,131.43 | -20,161.26 | -20,572.56 | -20,602.53 | -21,013.97 | -21,044.09 | -21,455.67 | -21,485.93 | -21,516.26 | -21,546.66 | -248,941.21 |
| Colocation and backup storage | COST OF REVENUE (costs negative) | budget input | -8,857.72 | -8,858.85 | -8,886.97 | -8,888.1 | -8,916.23 | -8,917.36 | -8,945.49 | -8,946.62 | -8,974.75 | -8,975.89 | -8,977.02 | -8,978.16 | -107,123.16 |
| Field vans | COST OF REVENUE (costs negative) | budget input | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -66,360 |
| Subcontractors (specialists and cabling) | COST OF REVENUE (costs negative) | budget input | -4,575 | -4,575 | -4,575 | -4,575 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -30,300 |
| Onerous project provision: movement | COST OF REVENUE (costs negative) | budget input | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Service delivery payroll | COST OF REVENUE (costs negative) | budget input | -110,061.07 | -109,146.07 | -111,844.65 | -110,051.6 | -116,629.73 | -116,280 | -111,237.19 | -103,168.69 | -117,288.56 | -120,314.25 | -121,322.81 | -116,280 | -1,363,624.62 |
| Project team payroll | COST OF REVENUE (costs negative) | budget input | -43,812.6 | -46,895.92 | -46,895.92 | -45,328.7 | -46,504.12 | -45,328.7 | -43,369.67 | -40,235.22 | -45,720.51 | -46,895.92 | -47,287.73 | -45,328.7 | -543,603.71 |
| TOTAL COST OF REVENUE | COST OF REVENUE (costs negative) | -430,594.91 | -447,089.93 | -479,838.04 | -460,198.28 | -475,835.9 | -507,470.45 | -456,217.55 | -382,490.78 | -516,127.11 | -539,326.86 | -500,262.49 | -477,302.14 | -5,672,754.44 | |
| GROSS PROFIT | COST OF REVENUE (costs negative) | 188,224.78 | 188,830.27 | 207,786.21 | 203,230.06 | 202,032.22 | 223,871.71 | 209,915.62 | 175,558.63 | 232,789.27 | 244,787.96 | 231,461.66 | 234,014.67 | 2,542,503.06 | |
| Sales and marketing payroll incl. commissions | OPERATING EXPENSES | budget input | -23,468.97 | -23,334.93 | -26,866.28 | -25,915.92 | -26,752.57 | -26,305.89 | -25,112.82 | -23,038.74 | -26,827.54 | -27,576.59 | -27,552.13 | -26,392.4 | -309,144.78 |
| General and administrative payroll | OPERATING EXPENSES | budget input | -34,442.72 | -34,157.47 | -34,157.47 | -33,016.5 | -33,872.23 | -33,016.5 | -31,590.28 | -29,308.33 | -33,301.74 | -34,157.47 | -34,442.72 | -33,016.5 | -398,479.93 |
| Office rent, Porto | OPERATING EXPENSES | budget input | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -126,000 |
| Statutory audit, legal and tax advisers | OPERATING EXPENSES | budget input | -4,176 | -4,176 | -11,520 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -57,456 |
| Insurance | OPERATING EXPENSES | budget input | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -22,800 |
| Marketing and events | OPERATING EXPENSES | budget input | -6,045 | -6,045 | -6,045 | -6,045 | -11,700 | -6,045 | -6,045 | -3,250 | -6,045 | -11,700 | -6,045 | -6,045 | -81,055 |
| Training and certifications | OPERATING EXPENSES | budget input | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -45,600 |
| Recruitment | OPERATING EXPENSES | budget input | -400 | -2,600 | -4,800 | -2,600 | -2,600 | -2,600 | -400 | -400 | -400 | -400 | -400 | -400 | -18,000 |
| Travel | OPERATING EXPENSES | budget input | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -38,400 |
| Telecoms and internal IT | OPERATING EXPENSES | budget input | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -50,400 |
| Office services and utilities | OPERATING EXPENSES | budget input | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -32,400 |
| Occupational health and safety | OPERATING EXPENSES | budget input | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -5,400 |
| TOTAL OPERATING EXPENSES | OPERATING EXPENSES | -95,282.69 | -97,063.4 | -110,138.75 | -98,503.42 | -105,850.8 | -98,893.39 | -94,074.1 | -86,923.07 | -97,500.28 | -104,760.06 | -99,365.85 | -96,779.9 | -1,185,135.71 | |
| EBITDA | OPERATING EXPENSES | 92,942.09 | 91,766.87 | 97,647.46 | 104,726.64 | 96,181.42 | 124,978.32 | 115,841.52 | 88,635.56 | 135,288.99 | 140,027.9 | 132,095.81 | 137,234.77 | 1,357,367.35 | |
| Depreciation and amortisation | OPERATING EXPENSES | budget input | -9,266.67 | -9,391.67 | -9,516.67 | -9,641.67 | -9,766.67 | -9,891.67 | -10,016.67 | -10,141.67 | -10,266.67 | -10,391.67 | -10,516.67 | -10,641.67 | -119,450.04 |
| Interest on the bank loan | OPERATING EXPENSES | budget input | -4,820.83 | -4,697.22 | -4,573.61 | -4,450 | -4,326.39 | -4,202.78 | -4,079.17 | -3,955.56 | -3,831.94 | -3,708.33 | -3,584.72 | -3,461.11 | -49,691.66 |
| Exchange differences | OPERATING EXPENSES | budget input | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PROFIT BEFORE TAX | OPERATING EXPENSES | 78,854.59 | 77,677.98 | 83,557.18 | 90,634.97 | 82,088.36 | 110,883.87 | 101,745.68 | 74,538.33 | 121,190.38 | 125,927.9 | 117,994.42 | 123,131.99 | 1,188,225.65 | |
| Corporate income tax (IRC) and derrama | OPERATING EXPENSES | budget input | -16,032.46 | -15,793.24 | -16,988.58 | -18,427.61 | -16,689.94 | -22,544.56 | -20,686.61 | -15,154.9 | -24,640.04 | -25,603.26 | -23,990.25 | -25,034.8 | -241,586.25 |
| NET PROFIT | OPERATING EXPENSES | 62,822.13 | 61,884.74 | 66,568.6 | 72,207.36 | 65,398.42 | 88,339.31 | 81,059.07 | 59,383.43 | 96,550.34 | 100,324.64 | 94,004.17 | 98,097.19 | 946,639.4 | |
| Managed users at month end | DRIVERS, BALANCES AND HEADCOUNT | budget | 3,782.97 | 3,790.97 | 3,888.99 | 3,897.02 | 3,995.08 | 4,003.15 | 4,101.25 | 4,109.37 | 4,207.5 | 4,215.66 | 4,223.84 | 4,232.04 | 4,232.04 |
| Managed devices at month end | DRIVERS, BALANCES AND HEADCOUNT | budget | 1,175.25 | 1,176.5 | 1,207.75 | 1,209 | 1,240.25 | 1,241.51 | 1,272.76 | 1,274.02 | 1,305.28 | 1,306.54 | 1,307.8 | 1,309.07 | 1,309.07 |
| Managed service fees (MRR) | DRIVERS, BALANCES AND HEADCOUNT | budget input | 222,445.72 | 223,317.05 | 230,406.65 | 231,456.2 | 238,170.63 | 238,670.01 | 245,331.68 | 246,681 | 252,991.67 | 254,085.79 | 254,835.21 | 255,419.05 | 2,893,810.66 |
| Contracts billing | DRIVERS, BALANCES AND HEADCOUNT | budget | 30 | 30 | 31 | 31 | 32 | 32 | 33 | 33 | 34 | 34 | 34 | 34 | 34 |
| Annual licences billed | DRIVERS, BALANCES AND HEADCOUNT | budget input | 239,400 | 12,600 | 18,900 | 14,700 | 9,450 | 16,800 | 11,550 | 6,300 | 23,100 | 15,750 | 12,600 | 26,250 | 407,400 |
| Hardware purchases (cost of sales) | DRIVERS, BALANCES AND HEADCOUNT | budget input | 168,483.22 | 177,686.09 | 206,710.51 | 189,720.61 | 198,923.47 | 232,903.28 | 185,473.13 | 121,053.07 | 236,442.84 | 255,556.49 | 213,789.64 | 197,507.65 | 2,384,250 |
| Distributor rebate rate | DRIVERS, BALANCES AND HEADCOUNT | budget | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% |
| Service desk utilisation | DRIVERS, BALANCES AND HEADCOUNT | budget | 81% | 81% | 80% | 80% | 78% | 78% | 83% | 87% | 86% | 82% | 81% | 81% | 81.5% |
| Service desk FTE | DRIVERS, BALANCES AND HEADCOUNT | budget | 39 | 39 | 40 | 41 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 |
| Headcount | DRIVERS, BALANCES AND HEADCOUNT | budget | 68 | 69 | 71 | 72 | 73 | 74 | 74 | 74 | 74 | 74 | 74 | 74 | 74 |
| Hires | DRIVERS, BALANCES AND HEADCOUNT | budget input | 0 | 1 | 2 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 6 |
| Cash at bank | DRIVERS, BALANCES AND HEADCOUNT | budget balance | 1,002,187.93 | 1,052,024.26 | 1,101,379.16 | 1,164,422.46 | 853,858.54 | 831,647.79 | 829,206.61 | 877,953.28 | 895,206.79 | 995,593.03 | 1,088,170.79 | 1,112,926.52 | 1,112,926.52 |
| Net debt | DRIVERS, BALANCES AND HEADCOUNT | budget balance | 264,478.74 | 181,309.08 | 98,620.85 | 2,244.22 | 279,474.81 | 268,352.23 | 237,460.08 | 155,380.08 | 104,793.24 | -28,926.33 | -154,837.42 | -212,926.48 | -212,926.48 |
| USD per EUR (budget rate) | DRIVERS, BALANCES AND HEADCOUNT | budget | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 |
| label | ytd actual | ytd budget | ytd variance | ytd variance pct | fy outlook | fy budget | fy variance | fy variance pct | commentary |
|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | 1,835,015.91 | 1,876,478.93 | -41,463.02 | -2.21% | 2,770,094.6485 | 2,893,810.65 | -123,716.0015 | -4.28% | Traslovia Transportes lost at its April renewal; three new contracts from March against four budgeted. |
| Managed services: SLA credits (variable consideration) | -37,653.01 | -7,505.91 | -30,147.1 | -401.64% | -46,601.0005 | -11,575.24 | -35,025.7605 | -302.59% | Desk short of staff after four leavers; utilisation 98% in July. |
| Managed services: onboarding fees recognised | 3,550 | 3,700 | -150 | -4.05% | 5,995 | 6,675 | -680 | -10.19% | |
| Licences bundled in managed contracts (principal) | 538,291.89 | 550,086.25 | -11,794.36 | -2.14% | 810,121.7357 | 844,203.58 | -34,081.8443 | -4.04% | |
| Annual security and backup licences (principal, over 12 months) | 271,275 | 267,825 | 3,450 | 1.29% | 407,808.3333 | 403,149.99 | 4,658.3433 | 1.16% | |
| Licences resold as agent: commission and vendor incentive (net) | 61,998.9 | 64,829.9 | -2,831 | -4.37% | 94,632.0139 | 108,993.5 | -14,361.4861 | -13.18% | |
| Hardware (principal) | 1,575,000 | 1,708,135.41 | -133,135.41 | -7.79% | 2,372,368 | 2,750,000.02 | -377,632.02 | -13.73% | No refresh cycle this year; demand below the 2025 base. |
| Projects | 535,313.17 | 775,635.76 | -240,322.59 | -30.98% | 830,864.0538 | 1,220,000 | -389,135.9462 | -31.9% | J01 catch-up in June and a slower pipeline. |
| REVENUE | 4,782,791.86 | 5,239,185.34 | -456,393.48 | -8.71% | 7,245,282.7847 | 8,215,257.5 | -969,974.7153 | -11.81% | Revenue by cause: see the table below. |
| Hardware cost net of distributor rebates | -1,353,288.88 | -1,443,929.55 | 90,640.67 | 6.28% | -2,048,126.8937 | -2,324,643.75 | 276,516.8563 | 11.9% | Lower volume; distributor rebate at tier 1 against tier 2 budgeted. |
| Licence cost net of vendor incentives | -638,635.33 | -646,322.41 | 7,687.08 | 1.19% | -963,229.397 | -988,157.99 | 24,928.593 | 2.52% | |
| Service tooling (USD platforms) | -158,368.2269 | -162,936.69 | 4,568.4631 | 2.8% | -244,270.0547 | -248,941.21 | 4,671.1553 | 1.88% | |
| Colocation and backup storage | -71,026.5 | -71,217.34 | 190.84 | 0.27% | -106,575.6195 | -107,123.16 | 547.5405 | 0.51% | |
| Field vans | -41,767.47 | -44,240 | 2,472.53 | 5.59% | -63,548.1005 | -66,360 | 2,811.8995 | 4.24% | |
| Subcontractors (specialists and cabling) | -92,360 | -24,300 | -68,060 | -280.08% | -144,568.4294 | -30,300 | -114,268.4294 | -377.12% | J01 data migration specialist subcontractor. |
| Onerous project provision: movement (IAS 37) | -2,507.14 | 0 | -2,507.14 | 0% | 0 | 0 | 0 | 0% | J01 onerous contract provision (IAS 37). |
| Service delivery payroll | -806,140.535 | -888,419 | 82,278.465 | 9.26% | -1,230,079.2968 | -1,363,624.62 | 133,545.3232 | 9.79% | Four leavers, two replaced; budgeted desk hires not made. |
| Project team payroll | -358,370.8912 | -358,370.85 | -0.0413 | -0% | -542,635.9311 | -543,603.71 | 967.7789 | 0.18% | |
| TOTAL COST OF REVENUE | -3,522,464.9731 | -3,639,735.84 | 117,270.8669 | 3.22% | -5,343,033.7229 | -5,672,754.44 | 329,720.7171 | 5.81% | |
| GROSS PROFIT | 1,260,326.8869 | 1,599,449.5 | -339,122.6131 | -21.2% | 1,902,249.0618 | 2,542,503.06 | -640,253.9982 | -25.18% | |
| Gross margin % | 0.2635 | 0.3053 | -0.0418 | 0.2626 | 0.3095 | -0.0469 | |||
| Sales and marketing payroll incl. commissions | -199,641.2001 | -200,796.12 | 1,154.9199 | 0.58% | -304,345.7894 | -309,144.78 | 4,798.9906 | 1.55% | |
| General and administrative payroll | -263,561.5525 | -263,561.5 | -0.0525 | -0% | -398,475.0236 | -398,479.93 | 4.9064 | 0% | |
| Office rent, Porto | -84,000 | -84,000 | 0 | 0% | -126,000 | -126,000 | 0 | 0% | |
| Statutory audit, legal and tax advisers | -41,074.99 | -40,752 | -322.99 | -0.79% | -57,778.99 | -57,456 | -322.99 | -0.56% | |
| Insurance | -15,200 | -15,200 | 0 | 0% | -22,800 | -22,800 | 0 | 0% | |
| Marketing and events | -51,333.87 | -51,220 | -113.87 | -0.22% | -81,168.87 | -81,055 | -113.87 | -0.14% | |
| Training and certifications | -30,255.42 | -30,400 | 144.58 | 0.48% | -45,455.42 | -45,600 | 144.58 | 0.32% | |
| Recruitment | -11,883.07 | -16,400 | 4,516.93 | 27.54% | -23,562.1185 | -18,000 | -5,562.1185 | -30.9% | Recruitment follows the hires. |
| Travel | -25,740.99 | -25,600 | -140.99 | -0.55% | -38,540.99 | -38,400 | -140.99 | -0.37% | |
| Telecoms and internal IT | -33,552.73 | -33,600 | 47.27 | 0.14% | -50,352.73 | -50,400 | 47.27 | 0.09% | |
| Office services and utilities | -21,921.74 | -21,600 | -321.74 | -1.49% | -32,721.74 | -32,400 | -321.74 | -0.99% | |
| Occupational health and safety | -3,538.16 | -3,600 | 61.84 | 1.72% | -5,338.16 | -5,400 | 61.84 | 1.15% | |
| TOTAL OPERATING EXPENSES | -781,703.7226 | -786,729.62 | 5,025.8974 | 0.64% | -1,186,539.8315 | -1,185,135.71 | -1,404.1215 | -0.12% | |
| EBITDA | 478,623.1642 | 812,719.88 | -334,096.7158 | -41.11% | 715,709.2303 | 1,357,367.35 | -641,658.1197 | -47.27% | EUR 334k behind budget YTD; EUR 642k behind on the full-year outlook. |
| EBITDA % of revenue | 0.1001 | 0.1551 | -0.0551 | 0.0988 | 0.1652 | -0.0664 | |||
| Depreciation and amortisation | -77,400.0267 | -77,633.36 | 233.3333 | 0.3% | -118,265.1164 | -119,450.04 | 1,184.9236 | 0.99% | |
| Interest on the bank loan | -36,914.25 | -35,105.56 | -1,808.69 | -5.15% | -54,942.0284 | -49,691.66 | -5,250.3684 | -10.57% | |
| Exchange differences | -89.6361 | 0 | -89.6361 | 0% | -1,681.9179 | 0 | -1,681.9179 | 0% | |
| Corporate income tax (IRC) and derrama | -72,664.9465 | -142,317.9 | 69,652.9535 | 48.94% | -108,868.1344 | -241,586.25 | 132,718.1156 | 54.94% | Lower profit; FY2026 rates 19% and 15% on the first EUR 50,000. |
| NET PROFIT | 291,554.3049 | 557,663.06 | -266,108.7551 | -47.72% | 431,952.0333 | 946,639.4 | -514,687.3667 | -54.37% | |
| Managed users | 3,951 | 4,109.37 | -158.37 | -3.85% | 3,864.1546 | 4,232.04 | -367.8854 | -8.69% | |
| Managed service fees (MRR) in the month | 236,994.81 | 246,681 | -9,686.19 | -3.93% | 231,297.656 | 255,419.05 | -24,121.394 | -9.44% | |
| Contracts billing | 32 | 33 | -1 | -3.03% | 32 | 34 | -2 | -5.88% | |
| Service desk utilisation | 0.8925 | 0.81 | 0.0825 | 10.19% | 0.874 | 0.815 | 0.059 | 7.24% | |
| Distributor rebate earned, % of purchases | 0.015 | 0.03 | -0.015 | -50% | 0.015 | 0.03 | -0.015 | -50% | |
| Service desk FTE | 37 | 43 | -6 | -13.95% | 39.8452 | 43 | -3.1548 | -7.34% | |
| Headcount | 68 | 74 | -6 | -8.11% | 70.324 | 74 | -3.676 | -4.97% | |
| Cash at bank | 842,052.8828 | 877,953.28 | -35,900.3972 | -4.09% | 221,531.9938 | 1,112,926.52 | -891,394.5262 | -80.09% | |
| Net debt | 191,280.4772 | 155,380.08 | 35,900.3972 | 23.1% | 678,468.0462 | -212,926.48 | 891,394.5262 | 418.64% |
| Cause | YTD actual | YTD budget | YTD variance | Revenue effect YTD | FY26 outlook | FY26 budget | FY26 variance | Revenue effect FY26 |
|---|---|---|---|---|---|---|---|---|
| Traslovia Transportes not renewed at its April term end | 33,078 | 67,117.12 | -34,039.12 | -34,039.12 | 33,078 | 101,280.26 | -68,202.26 | -68,202.26 |
| New contracts: three won from March, May and July (and pipeline) against four budgeted | 61,667 | 69,840 | -8,173 | -8,173 | 126,284.1929 | 162,960 | -36,675.8071 | -36,675.8071 |
| Existing contracts: users, devices and price reviews | 1,740,270.91 | 1,739,521.81 | 749.1 | 749.1 | 2,610,732.4556 | 2,629,570.39 | -18,837.9344 | -18,837.9344 |
| SLA credits (service desk capacity) | -37,653.01 | -7,505.91 | -30,147.1 | -30,147.1 | -46,601.0005 | -11,575.24 | -35,025.7605 | -35,025.7605 |
| Onboarding fees recognised | 3,550 | 3,700 | -150 | -150 | 5,995 | 6,675 | -680 | -680 |
| Bundled licences | 538,291.89 | 550,086.25 | -11,794.36 | -11,794.36 | 810,121.7357 | 844,203.58 | -34,081.8443 | -34,081.8443 |
| Annual licences | 271,275 | 267,825 | 3,450 | 3,450 | 407,808.3333 | 403,149.99 | 4,658.3433 | 4,658.3433 |
| Licences resold as agent | 61,998.9 | 64,829.9 | -2,831 | -2,831 | 94,632.0139 | 108,993.5 | -14,361.4861 | -14,361.4861 |
| Hardware | 1,575,000 | 1,708,135.41 | -133,135.41 | -133,135.41 | 2,372,368 | 2,750,000.02 | -377,632.02 | -377,632.02 |
| Projects | 535,313.17 | 775,635.76 | -240,322.59 | -240,322.59 | 830,864.0538 | 1,220,000 | -389,135.9462 | -389,135.9462 |
| TOTAL REVENUE VARIANCE | -456,393.48 | -969,974.7153 |
| step | value |
|---|---|
| Budget EBITDA YTD | 812,719.88 |
| Managed services revenue (fees, SLA credits, onboarding, bundled licences) | -83,554.48 |
| Licence resale revenue | 619 |
| Hardware revenue | -133,135.41 |
| Project revenue | -240,322.59 |
| Hardware cost net of rebates | 90,640.67 |
| Licence cost net of incentives | 7,687.08 |
| Tooling, colocation and field vans | 7,231.8331 |
| Subcontractors | -68,060 |
| Onerous project provision | -2,507.14 |
| Service delivery payroll | 82,278.465 |
| Project team payroll | -0.0413 |
| Sales and marketing payroll incl. commissions | 1,154.9199 |
| General and administrative payroll | -0.0525 |
| Overheads | 3,871.03 |
| Actual EBITDA YTD | 478,623.1642 |
Balance sheet & cash flow
Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| 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 | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 497,113.6162 | 360,613.1305 | 276,107.2504 | 221,531.9938 | 298,491.1338 | 208,464.7586 | 420,966.3382 | 404,878.7582 | 476,778.7534 | 377,465.3634 | 247,111.1596 | 399,594.3108 | 534,688.9707 | 349,261.6634 | 259,332.0784 | 236,172.2048 | 221,531.9938 | 236,172.2048 |
| Receivables: customers in Portugal (incl. VAT) | ASSETS | Receivables | 1,084,367.9053 | 866,796.7276 | 870,475.3987 | 926,607.2165 | 870,335.3704 | 868,847.2941 | 848,195.4363 | 714,105.2217 | 1,108,212.2019 | 1,207,000.3136 | 1,253,308.8691 | 1,220,766.7681 | 1,396,284.6259 | 1,315,147.3205 | 1,150,067.5973 | 1,148,034.8148 | 1,123,860.2551 | 1,167,049.3415 | 1,139,939.9118 | 983,526.9223 | 1,081,220.3791 | 1,243,188.5814 | 1,216,068.92 | 1,181,229.8616 | 1,220,766.7681 | 1,181,229.8616 |
| Receivables: customers in Spain | ASSETS | Receivables | 209,645.7178 | 182,411.273 | 184,277.2757 | 180,533.798 | 152,960.428 | 179,569.4446 | 176,724.587 | 156,842.9203 | 203,022.5492 | 213,088.9394 | 210,897.3404 | 184,295.1552 | 206,688.6361 | 206,188.1586 | 195,721.3419 | 187,614.2625 | 183,802.1986 | 190,233.9873 | 189,511.9209 | 171,391.6639 | 177,216.463 | 196,756.8197 | 201,481.313 | 197,190.1036 | 184,295.1552 | 197,190.1036 |
| Contract assets: projects (progress ahead of billing) | ASSETS | Projects | 0 | 1,309.09 | 21,871.79 | 5,525 | 14,479.38 | 8,287.5 | 6,791.49 | 0 | 9,863.8538 | 37,431.9269 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,800 | 0 |
| Hardware stock | ASSETS | Hardware | 73,904.6 | 76,268.62 | 91,851.66 | 86,610.7 | 79,426.39 | 93,242.97 | 77,430.33 | 52,742.81 | 86,161.712 | 90,448.5987 | 78,129.688 | 69,249.7084 | 62,183.4116 | 71,975.28 | 74,196.1161 | 69,367.48 | 70,662.9677 | 81,780.608 | 65,009.9303 | 42,397.7806 | 86,161.712 | 90,448.5987 | 78,129.688 | 69,249.7084 | 69,249.7084 | 69,249.7084 |
| Prepaid annual licence costs | ASSETS | Licences | 224,105 | 208,436.3333 | 197,327.6667 | 182,894 | 164,394.3333 | 151,664.3333 | 134,564.3333 | 113,487 | 104,265.6667 | 89,724.3333 | 72,903 | 65,961.6667 | 225,080.3333 | 209,095 | 197,745.6667 | 183,128.3333 | 164,483 | 151,689.6667 | 134,564.3333 | 113,487 | 104,265.6667 | 89,724.3333 | 72,903 | 65,961.6667 | 65,961.6667 | 65,961.6667 |
| Rebates and incentives receivable | ASSETS | Rebates | 42,747.82 | 16,617.86 | 23,683.86 | 29,805.69 | 12,228.05 | 19,254.82 | 25,039.32 | 9,895.91 | 16,792.0372 | 23,390.6356 | 12,484.036 | 18,626.5453 | 29,019.1934 | 15,952.3149 | 22,021.568 | 27,467.1702 | 11,015.2601 | 17,280.178 | 20,489.053 | 5,912.1374 | 9,527.2101 | 16,140.0342 | 12,514.097 | 18,683.0085 | 18,626.5453 | 18,683.0085 |
| Contract costs: capitalised commissions (IFRS 15.91) | ASSETS | People | 0 | 0 | 4,553.01 | 4,422.924 | 7,962.273 | 7,727.346 | 13,043.349 | 12,649.824 | 12,256.299 | 11,862.774 | 11,469.249 | 11,075.724 | 18,552.9465 | 17,934.543 | 19,249.6095 | 20,443.8156 | 19,716.8029 | 20,390.9496 | 19,623.9038 | 18,856.8579 | 18,089.8121 | 17,322.7663 | 16,555.7205 | 15,788.6747 | 11,075.724 | 15,788.6747 |
| Rent deposit | ASSETS | opening balance | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 |
| IT equipment and office fit-out | ASSETS | Fixed_Assets | 118,533.33 | 117,316.66 | 125,813.8789 | 122,852.7644 | 119,841.65 | 118,080.5356 | 116,233.31 | 112,999.9733 | 109,716.6367 | 109,308.3 | 108,336.4633 | 105,290.685 | 106,095.7792 | 102,839.5227 | 100,491.108 | 98,074.4539 | 94,587.907 | 92,015.4189 | 88,379.8718 | 84,676.3095 | 81,011.6459 | 80,278.8906 | 79,478.0838 | 78,609.3134 | 105,290.685 | 78,609.3134 |
| Customer relationships | ASSETS | Fixed_Assets | 370,000 | 365,000 | 360,000 | 355,000 | 350,000 | 345,000 | 340,000 | 335,000 | 330,000 | 325,000 | 320,000 | 315,000 | 310,000 | 305,000 | 300,000 | 295,000 | 290,000 | 285,000 | 280,000 | 275,000 | 270,000 | 265,000 | 260,000 | 255,000 | 315,000 | 255,000 |
| Goodwill | ASSETS | Fixed_Assets | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 |
| TOTAL ASSETS | ASSETS | 4,145,590.0746 | 3,966,412.7374 | 4,105,956.7666 | 4,090,881.6826 | 3,863,868.94 | 3,613,153.9311 | 3,398,690.4264 | 3,290,776.5421 | 3,418,404.5727 | 3,408,868.9521 | 3,284,635.8962 | 3,161,598.2464 | 3,593,396.0599 | 3,393,596.8984 | 3,421,459.3457 | 3,375,009.0885 | 3,375,907.1448 | 3,323,905.5135 | 3,125,630.0845 | 3,035,842.9825 | 3,303,181.8596 | 3,289,121.6876 | 3,137,462.9007 | 3,058,884.5416 | 3,161,598.2464 | 3,058,884.5416 | |
| Trade payables: hardware distributors | LIABILITIES | Payables | 171,017.478 | 213,959.7526 | 259,420.5818 | 209,385.411 | 218,285.2597 | 272,849.1531 | 190,772.2159 | 99,562.9463 | 268,202.9047 | 251,616.0899 | 190,775.2746 | 177,684.1523 | 160,669.4182 | 189,103.1869 | 204,810.0504 | 176,893.6356 | 194,049.0899 | 229,225.0143 | 156,431.2553 | 87,660.4399 | 280,927.2908 | 251,616.0899 | 190,775.2746 | 177,684.1523 | 177,684.1523 | 177,684.1523 |
| Trade payables: licence distributor | LIABILITIES | Payables | 349,276.4457 | 139,566.9641 | 159,995.6758 | 146,302.4442 | 141,212.0876 | 151,673.0196 | 141,778.3235 | 118,786.577 | 148,639.6577 | 144,734.489 | 145,915.3057 | 163,000.8051 | 345,763.8639 | 133,394.7465 | 146,434.3491 | 134,822.8712 | 131,331.4319 | 142,249.1262 | 131,563.8735 | 110,833.761 | 148,217.9794 | 145,317.7416 | 146,564.5544 | 164,083.2936 | 163,000.8051 | 164,083.2936 |
| Trade payables: tooling vendor (USD) | LIABILITIES | Payables | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 21,722.9396 | 21,465.5065 | 21,403.3106 | 21,310.0712 | 21,972.139 | 21,929.7452 | 21,217.8809 | 21,303.0117 | 21,273.688 | 21,405.6472 | 21,384.7024 | 21,129.1578 | 21,146.8285 | 21,134.2506 | 21,081.1105 | 21,098.7322 | 21,310.0712 | 21,098.7322 |
| Trade payables: other suppliers | LIABILITIES | Payables | 38,265.7182 | 44,873.8933 | 71,149.6332 | 51,792.6195 | 61,416.5207 | 60,928.0265 | 59,626.6094 | 45,069.4557 | 51,445.9522 | 71,705.2693 | 62,734.1271 | 43,626.2719 | 58,688.185 | 48,805.7951 | 61,923.4066 | 52,368.4275 | 55,780.006 | 53,161.1244 | 48,309.0111 | 41,579.0813 | 49,460.3248 | 57,645.0747 | 49,925.2281 | 49,439.6891 | 43,626.2719 | 49,439.6891 |
| Contract liabilities: annual licences billed ahead | LIABILITIES | Licences | 294,875 | 274,258.3333 | 259,641.6667 | 240,650 | 216,308.3333 | 199,558.3333 | 177,058.3333 | 149,325 | 137,191.6667 | 118,058.3333 | 95,925 | 86,791.6667 | 296,158.3333 | 275,125 | 260,191.6667 | 240,958.3333 | 216,425 | 199,591.6667 | 177,058.3333 | 149,325 | 137,191.6667 | 118,058.3333 | 95,925 | 86,791.6667 | 86,791.6667 | 86,791.6667 |
| Contract liabilities: projects billed ahead of progress | LIABILITIES | Projects | 37,072.12 | 15,447.78 | 20,244.32 | 23,998.23 | 3,087.5 | 31,482.01 | 12,814.29 | 11,219.03 | 8,800 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contract liabilities: onboarding fees deferred | LIABILITIES | Contracts | 7,762.5 | 7,468.75 | 10,675 | 10,281.25 | 12,775 | 12,298.75 | 16,547.5 | 15,936.25 | 15,325 | 14,713.75 | 14,102.5 | 13,491.25 | 20,230 | 19,408.75 | 20,162.5 | 20,827.5 | 19,917.5 | 20,101.25 | 19,160 | 18,218.75 | 17,277.5 | 16,336.25 | 15,395 | 14,453.75 | 13,491.25 | 14,453.75 |
| SLA credits due to customers | LIABILITIES | Service_Desk | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,071.9185 | 876.0721 | 0 | 0 | 3,362.5808 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| VAT payable | LIABILITIES | VAT | 118,791.5927 | 99,127.7568 | 82,209.3356 | 99,728.6589 | 107,596.91 | 83,497.8917 | 87,264.6345 | 137,502.685 | 92,040.5725 | 79,238.5508 | 99,745.8486 | 112,129.7101 | 110,370.3921 | 108,006.5876 | 94,040.2131 | 96,633.0855 | 96,764.647 | 93,485.5029 | 98,713.5367 | 148,100.2129 | 88,193.7332 | 86,308.5898 | 99,297.766 | 102,698.2458 | 112,129.7101 | 102,698.2458 |
| Social security payable | LIABILITIES | People | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,632.556 | 45,543.148 | 91,623.893 | 46,238.8342 | 48,937.3691 | 51,080.9825 | 49,026.8865 | 49,859.8645 | 49,718.0237 | 98,844.9922 | 49,857.8698 | 49,310.2476 | 49,145.1833 | 49,171.0673 | 98,051.5059 | 48,946.1598 | 46,238.8342 | 48,946.1598 |
| IRS withheld payable | LIABILITIES | People | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 20,024.9029 | 20,290.8986 | 40,863.8743 | 20,580.8416 | 22,106.9739 | 23,036.7632 | 22,084.4224 | 22,390.909 | 22,330.4063 | 44,343.6917 | 22,361.0691 | 22,124.0829 | 22,052.7477 | 22,064.2033 | 44,022.9828 | 21,967.1668 | 20,580.8416 | 21,967.1668 |
| IRC withheld on rent payable | LIABILITIES | Overheads | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,625 | 2,690.625 |
| Commissions payable (incl. TSU) | LIABILITIES | People | 904.5878 | 943.4576 | 5,747.544 | 947.6899 | 4,789.5705 | 1,113.3045 | 6,640.92 | 570.4999 | 890.6941 | 966.1766 | 807.6633 | 739.729 | 8,759.8724 | 694.4395 | 2,781.2788 | 2,638.303 | 754.8255 | 2,286.5971 | 694.4395 | 452.8953 | 890.6941 | 966.1766 | 807.6633 | 739.729 | 739.729 | 739.729 |
| Holiday pay and holiday allowance accrued | LIABILITIES | People | 340,285.275 | 359,263.3688 | 378,342.525 | 390,723.7125 | 407,731.9125 | 261,704.4375 | 265,961.4375 | 257,447.4375 | 271,173.078 | 289,990.8673 | 310,796.6743 | 329,828.5417 | 351,809.4689 | 372,009.9783 | 392,298.0445 | 405,697.6323 | 424,301.9086 | 262,142.8191 | 266,816.5474 | 257,488.1846 | 272,616.7636 | 292,941.8359 | 314,965.361 | 328,268.9975 | 329,828.5417 | 328,268.9975 |
| Christmas allowance accrued | LIABILITIES | People | 13,334.0625 | 26,889.8438 | 40,517.8125 | 53,975.625 | 67,263.2812 | 80,442.6562 | 93,745.7812 | 107,048.9062 | 120,246.6375 | 133,687.9156 | -13,688.0309 | 0 | 14,461.1363 | 28,890.0716 | 43,381.5475 | 57,946.3168 | 72,480.9076 | 87,116.2045 | 101,721.6053 | 116,297.1722 | 130,843.8828 | 145,361.7916 | -14,489.1613 | 0 | 0 | 0 |
| Corporate income tax payable / (recoverable) | LIABILITIES | Tax | 111,026.9539 | 119,147.9582 | 131,938.1174 | 147,415.0939 | 158,721.9006 | 53,045.2658 | -8,242.1246 | -419.6435 | -60,597.395 | -52,088.4498 | -45,042.6352 | -110,385.6406 | -107,548.0268 | -103,367.2808 | -100,796.9478 | -96,332.3391 | -94,100.7899 | -87,762.218 | -114,433.3965 | -111,488.9968 | -27,793.7103 | -21,882.0224 | -16,758.6582 | -42,266.3927 | -110,385.6406 | -42,266.3927 |
| Dividends payable | LIABILITIES | Financing | 0 | 0 | 360,000 | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| IRS withheld on dividends payable | LIABILITIES | Financing | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Provision: onerous projects (IAS 37) | LIABILITIES | Projects | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 4,375.8538 | 2,187.9269 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank term loan | LIABILITIES | Financing | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | 500,000.08 | 900,000.04 | 500,000.08 |
| TOTAL LIABILITIES | LIABILITIES | 2,836,915.529 | 2,622,725.2435 | 3,072,668.4112 | 2,997,572.8577 | 2,726,711.7669 | 2,475,700.7651 | 2,215,487.1449 | 2,077,237.2972 | 2,154,811.969 | 2,112,278.244 | 1,960,721.1754 | 1,807,661.2731 | 2,225,099.041 | 2,004,142.7706 | 2,020,245.9736 | 1,955,364.8963 | 1,947,050.6596 | 1,868,882.1033 | 1,648,996.2018 | 1,547,054.0137 | 1,792,861.5796 | 1,754,396.7472 | 1,581,587.6621 | 1,476,595.8952 | 1,807,661.2731 | 1,476,595.8952 | |
| Share capital | EQUITY | Financing | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 |
| Legal reserve | EQUITY | Financing | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| Retained earnings: opening (memo) | EQUITY | 1,221,984.94 | 1,248,674.5456 | 1,283,687.4939 | 973,288.3554 | 1,033,308.825 | 1,077,157.1732 | 1,077,453.166 | 1,123,203.2815 | 1,153,539.2449 | 1,203,592.6037 | 1,236,590.7082 | 1,263,914.7208 | 1,293,936.9733 | 1,308,297.0189 | 1,329,454.1278 | 1,341,213.3721 | 1,359,644.1923 | 1,368,856.4852 | 1,395,023.4101 | 1,416,633.8827 | 1,428,788.9688 | 1,450,320.2801 | 1,474,724.9404 | 1,495,875.2386 | |||
| Net profit (memo) | EQUITY | PL | 26,689.6056 | 35,012.9482 | 49,600.8615 | 60,020.4696 | 43,848.3482 | 295.9929 | 45,750.1155 | 30,335.9634 | 50,053.3588 | 32,998.1045 | 27,324.0127 | 30,022.2525 | 14,360.0456 | 21,157.1089 | 11,759.2443 | 18,430.8202 | 9,212.293 | 26,166.9249 | 21,610.4726 | 12,155.086 | 21,531.3113 | 24,404.6604 | 21,150.2982 | 26,413.4078 | 431,952.0333 | 228,351.6732 |
| Dividends declared (memo) | EQUITY | Financing | 0 | 0 | -360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -360,000 | 0 |
| Retained earnings | EQUITY | 1,248,674.5456 | 1,283,687.4939 | 973,288.3554 | 1,033,308.825 | 1,077,157.1732 | 1,077,453.166 | 1,123,203.2815 | 1,153,539.2449 | 1,203,592.6037 | 1,236,590.7082 | 1,263,914.7208 | 1,293,936.9733 | 1,308,297.0189 | 1,329,454.1278 | 1,341,213.3721 | 1,359,644.1923 | 1,368,856.4852 | 1,395,023.4101 | 1,416,633.8827 | 1,428,788.9688 | 1,450,320.2801 | 1,474,724.9404 | 1,495,875.2386 | 1,522,288.6465 | 1,293,936.9733 | 1,522,288.6465 | |
| TOTAL EQUITY | EQUITY | 1,308,674.5456 | 1,343,687.4939 | 1,033,288.3554 | 1,093,308.825 | 1,137,157.1732 | 1,137,453.166 | 1,183,203.2815 | 1,213,539.2449 | 1,263,592.6037 | 1,296,590.7082 | 1,323,914.7208 | 1,353,936.9733 | 1,368,297.0189 | 1,389,454.1278 | 1,401,213.3721 | 1,419,644.1923 | 1,428,856.4852 | 1,455,023.4101 | 1,476,633.8827 | 1,488,788.9688 | 1,510,320.2801 | 1,534,724.9404 | 1,555,875.2386 | 1,582,288.6465 | 1,353,936.9733 | 1,582,288.6465 | |
| TOTAL LIABILITIES AND EQUITY | EQUITY | 4,145,590.0746 | 3,966,412.7374 | 4,105,956.7666 | 4,090,881.6826 | 3,863,868.94 | 3,613,153.9311 | 3,398,690.4264 | 3,290,776.5421 | 3,418,404.5727 | 3,408,868.9521 | 3,284,635.8962 | 3,161,598.2464 | 3,593,396.0599 | 3,393,596.8984 | 3,421,459.3457 | 3,375,009.0885 | 3,375,907.1448 | 3,323,905.5135 | 3,125,630.0845 | 3,035,842.9825 | 3,303,181.8596 | 3,289,121.6876 | 3,137,462.9007 | 3,058,884.5416 | 3,161,598.2464 | 3,058,884.5416 | |
| 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 | |
| Net debt (loan less cash) | MEMO | 185,380.9685 | 42,077.1665 | -85,102.2166 | -88,962.9097 | -17,907.7153 | 219,520.3326 | 346,998.4193 | 191,280.4772 | 502,886.4138 | 606,053.5695 | 657,226.1196 | 678,468.0462 | 568,175.5762 | 624,868.6214 | 379,033.7118 | 361,787.9618 | 256,554.6366 | 322,534.6966 | 419,555.5704 | 233,739.0892 | 65,311.0993 | 217,405.0766 | 274,001.3316 | 263,827.8752 | 678,468.0462 | 263,827.8752 | |
| Trade working capital (receivables + stock - trade payables) | MEMO | 790,017.836 | 707,838.3854 | 636,134.6544 | 766,210.4169 | 661,952.2096 | 636,467.2128 | 690,059.4004 | 640,158.9399 | 907,385.009 | 1,021,016.4971 | 1,121,507.8794 | 1,068,690.3311 | 1,078,063.0676 | 1,200,077.2855 | 985,599.3683 | 1,019,628.6114 | 975,891.2056 | 993,023.0246 | 1,036,772.9208 | 936,113.9268 | 844,846.1307 | 1,054,680.8431 | 1,087,333.7534 | 1,035,363.8063 | 1,068,690.3311 | 1,035,363.8063 | |
| Contract liabilities, total | MEMO | 339,709.62 | 297,174.8633 | 290,560.9867 | 274,929.48 | 232,170.8333 | 243,339.0933 | 206,420.1233 | 176,480.28 | 161,316.6667 | 132,772.0833 | 118,827.5 | 100,282.9167 | 316,388.3333 | 294,533.75 | 280,354.1667 | 261,785.8333 | 236,342.5 | 219,692.9167 | 196,218.3333 | 167,543.75 | 154,469.1667 | 134,394.5833 | 111,320 | 101,245.4167 | 100,282.9167 | 101,245.4167 |
| 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 | 26,689.6056 | 35,012.9482 | 49,600.8615 | 60,020.4696 | 43,848.3482 | 295.9929 | 45,750.1155 | 30,335.9634 | 50,053.3588 | 32,998.1045 | 27,324.0127 | 30,022.2525 | 14,360.0456 | 21,157.1089 | 11,759.2443 | 18,430.8202 | 9,212.293 | 26,166.9249 | 21,610.4726 | 12,155.086 | 21,531.3113 | 24,404.6604 | 21,150.2982 | 26,413.4078 | 431,952.0333 | 228,351.6732 |
| Add back: depreciation and amortisation | OPERATING ACTIVITIES (indirect) | 9,266.67 | 9,316.67 | 9,402.7811 | 9,761.1144 | 9,811.1144 | 9,861.1144 | 9,947.2256 | 10,033.3367 | 10,083.3367 | 10,133.3367 | 10,264.5867 | 10,383.8297 | 10,448.7756 | 10,622.4942 | 10,688.223 | 10,780.9955 | 10,874.4494 | 10,940.78 | 11,034.3437 | 11,100.9769 | 11,067.5718 | 8,134.3192 | 8,201.0293 | 8,267.7022 | 118,265.1164 | 122,161.6609 | |
| (Increase) / decrease in customer receivables | OPERATING ACTIVITIES (indirect) | BS movement | -16,924.5931 | 244,805.6226 | -5,544.6739 | -52,388.3401 | 83,845.2161 | -25,120.9404 | 23,496.7154 | 153,971.8814 | -440,286.6092 | -108,854.5019 | -44,116.9565 | 59,144.2863 | -197,911.3388 | 81,637.7829 | 175,546.5399 | 10,139.8618 | 27,986.6237 | -49,620.8751 | 27,831.4961 | 174,533.2465 | -103,518.2559 | -181,508.559 | 22,395.1681 | 39,130.2679 | -127,972.8932 | 26,641.9581 |
| (Increase) / decrease in contract assets | OPERATING ACTIVITIES (indirect) | BS movement | 0 | -1,309.09 | -20,562.7 | 16,346.79 | -8,954.38 | 6,191.88 | 1,496.01 | 6,791.49 | -9,863.8538 | -27,568.0731 | 37,431.9269 | -8,800 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8,800 | 8,800 |
| (Increase) / decrease in hardware stock | OPERATING ACTIVITIES (indirect) | BS movement | 22,595.4 | -2,364.02 | -15,583.04 | 5,240.96 | 7,184.31 | -13,816.58 | 15,812.64 | 24,687.52 | -33,418.902 | -4,286.8867 | 12,318.9107 | 8,879.9796 | 7,066.2968 | -9,791.8684 | -2,220.8361 | 4,828.6361 | -1,295.4877 | -11,117.6403 | 16,770.6777 | 22,612.1497 | -43,763.9314 | -4,286.8867 | 12,318.9107 | 8,879.9796 | 27,250.2916 | 0 |
| (Increase) / decrease in prepaid licences, rebates receivable, deposit and capitalised commissions | OPERATING ACTIVITIES (indirect) | BS movement | -170,109.52 | 41,798.6267 | -510.3433 | 8,441.9227 | 32,537.9577 | 5,938.157 | 5,999.497 | 36,614.2683 | 2,718.7311 | 8,336.2599 | 28,121.4579 | 1,192.349 | -176,988.5373 | 29,670.6153 | 3,965.0138 | 7,977.5251 | 35,824.256 | 5,854.2688 | 14,683.5042 | 36,421.2947 | 6,373.3065 | 8,695.5551 | 21,214.3163 | 1,539.4677 | 1,079.364 | -4,769.4139 |
| Increase / (decrease) in trade payables | OPERATING ACTIVITIES (indirect) | BS movement | 58,553.2071 | -160,262.152 | 92,831.4449 | -82,928.3824 | 13,228.6812 | 64,422.5172 | -92,901.543 | -128,758.9408 | 206,479.4421 | -490.0995 | -68,693.3365 | -15,206.7176 | 181,472.3056 | -193,860.1324 | 41,152.2134 | -48,997.7411 | 17,046.2699 | 43,606.6964 | -88,352.0699 | -96,486.4022 | 238,549.9834 | -24,039.2667 | -67,366.9891 | 3,959.6996 | -113,725.8795 | 6,684.5667 |
| Increase / (decrease) in contract liabilities and SLA credits due | OPERATING ACTIVITIES (indirect) | BS movement | 212,741.17 | -42,534.7567 | -3,378.1467 | -14,025.5267 | -42,159.3167 | 9,547.34 | -29,425.08 | -32,253.4533 | -16,092.0948 | -35,740.4298 | -14,820.6554 | -18,544.5833 | 219,467.9974 | -25,217.1641 | -14,179.5833 | -18,568.3333 | -25,443.3333 | -16,649.5833 | -23,474.5833 | -28,674.5833 | -13,074.5833 | -20,074.5833 | -23,074.5833 | -10,074.5833 | -26,685.5333 | 962.5 |
| Increase / (decrease) in payroll liabilities (TSU, IRS, commissions, holiday and Christmas accruals) | OPERATING ACTIVITIES (indirect) | BS movement | 34,990.5053 | 33,482.7849 | 37,951.4614 | 22,195.3859 | 31,427.8169 | -71,219.016 | -42,301.5895 | 943.9149 | 24,291.8048 | 33,511.1376 | -60,074.9322 | -33,016.1275 | 48,686.8742 | 29,637.4145 | 33,859.9445 | 28,960.846 | 31,053.0461 | -74,851.767 | -53,282.7736 | 4,221.0515 | 29,876.689 | 34,955.8032 | -67,146.723 | -43,436.2985 | 12,183.1464 | 2,534.1068 |
| Increase / (decrease) in VAT, IRC and withholdings | OPERATING ACTIVITIES (indirect) | BS movement | -11,383.4134 | -11,542.8316 | -4,128.262 | 32,996.2997 | 19,175.0579 | -129,775.653 | -57,520.6477 | 58,060.5317 | -105,639.8641 | -4,293.0765 | 27,553.1124 | -52,959.1439 | 1,143.9207 | 1,816.9417 | -11,396.0416 | 7,057.4811 | 2,363.1107 | 3,059.4277 | -21,443.1446 | 52,331.0759 | 23,788.8068 | 4,026.5445 | 18,112.5403 | -22,107.2547 | -239,457.8905 | 58,753.4086 |
| Increase / (decrease) in the onerous project provision | OPERATING ACTIVITIES (indirect) | BS movement | 0 | 0 | 0 | 0 | 0 | 10,147.14 | -4,731.43 | -2,908.57 | 1,868.7138 | -2,187.9269 | -2,187.9269 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| NET CASH FROM OPERATING ACTIVITIES | OPERATING ACTIVITIES (indirect) | 166,419.0315 | 146,403.802 | 140,079.3831 | 5,660.6931 | 189,944.8056 | -133,528.0479 | -124,378.0867 | 157,517.9421 | -309,805.9367 | -98,442.1556 | -46,879.8002 | -18,903.8752 | 116,546.3398 | -54,326.8075 | 249,174.7179 | 20,610.0914 | 107,621.2277 | -62,611.768 | -94,622.0773 | 188,213.8958 | 170,830.8981 | -149,692.4134 | -54,196.0325 | 12,572.3882 | 74,087.7552 | 450,120.4603 | |
| Capital expenditure (IT equipment) | INVESTING ACTIVITIES | Fixed_Assets | -1,800 | -3,100 | -12,900 | -1,800 | -1,800 | -3,100 | -3,100 | -1,800 | -1,800 | -4,725 | -4,292.75 | -2,338.0514 | -6,253.8698 | -2,366.2378 | -3,339.8083 | -3,364.3414 | -2,387.9025 | -3,368.2919 | -2,398.7965 | -2,397.4146 | -2,402.9082 | -2,401.564 | -2,400.2225 | -2,398.9319 | -42,555.8014 | -35,480.2894 |
| NET CASH FROM INVESTING ACTIVITIES | INVESTING ACTIVITIES | -1,800 | -3,100 | -12,900 | -1,800 | -1,800 | -3,100 | -3,100 | -1,800 | -1,800 | -4,725 | -4,292.75 | -2,338.0514 | -6,253.8698 | -2,366.2378 | -3,339.8083 | -3,364.3414 | -2,387.9025 | -3,368.2919 | -2,398.7965 | -2,397.4146 | -2,402.9082 | -2,401.564 | -2,400.2225 | -2,398.9319 | -42,555.8014 | -35,480.2894 | |
| Bank loan repaid | FINANCING ACTIVITIES | BS movement | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -399,999.96 | -399,999.96 |
| Dividends paid incl. the IRS withheld paid to the State | FINANCING ACTIVITIES | declared + movement in dividends and withholding payable | 0 | 0 | 0 | 0 | -259,200 | -100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -360,000 | 0 |
| NET CASH FROM FINANCING ACTIVITIES | FINANCING ACTIVITIES | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -292,533.33 | -134,133.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -759,999.96 | -399,999.96 | |
| NET CASH FLOW FOR THE MONTH | CASH | 131,285.7015 | 109,970.472 | 93,846.0531 | -29,472.6369 | -104,388.5244 | -270,761.3779 | -160,811.4167 | 122,384.6121 | -344,939.2667 | -136,500.4856 | -84,505.8802 | -54,575.2565 | 76,959.14 | -90,026.3752 | 212,501.5796 | -16,087.58 | 71,899.9952 | -99,313.3899 | -130,354.2038 | 152,483.1512 | 135,094.6599 | -185,427.3073 | -89,929.585 | -23,159.8737 | -728,468.0062 | 14,640.2109 | |
| Opening cash | CASH | 950,000 | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 497,113.6162 | 360,613.1305 | 276,107.2504 | 221,531.9938 | 298,491.1338 | 208,464.7586 | 420,966.3382 | 404,878.7582 | 476,778.7534 | 377,465.3634 | 247,111.1596 | 399,594.3108 | 534,688.9707 | 349,261.6634 | 259,332.0784 | |||
| CLOSING CASH (to balance sheet) | CASH | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 497,113.6162 | 360,613.1305 | 276,107.2504 | 221,531.9938 | 298,491.1338 | 208,464.7586 | 420,966.3382 | 404,878.7582 | 476,778.7534 | 377,465.3634 | 247,111.1596 | 399,594.3108 | 534,688.9707 | 349,261.6634 | 259,332.0784 | 236,172.2048 | 221,531.9938 | 236,172.2048 | |
| Free cash flow (operating less capex, before financing) | CASH | memo | 164,619.0315 | 143,303.802 | 127,179.3831 | 3,860.6931 | 188,144.8056 | -136,628.0479 | -127,478.0867 | 155,717.9421 | -311,605.9367 | -103,167.1556 | -51,172.5502 | -21,241.9265 | 110,292.47 | -56,693.0452 | 245,834.9096 | 17,245.75 | 105,233.3252 | -65,980.0599 | -97,020.8738 | 185,816.4812 | 168,427.9899 | -152,093.9773 | -56,596.255 | 10,173.4563 | 31,531.9538 | 414,640.1709 |
| Receipts: customers in Portugal | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 858,639.12 | 855,237.39 | 696,752.39 | 683,693.77 | 729,320.38 | 690,855.75 | 685,015.9 | 671,031.68 | 302,450.0982 | 574,185.1084 | 691,054.1782 | 687,997.44 | 718,251.0082 | 711,061.8286 | 832,205.1861 | 638,604.7425 | 659,996.3121 | 636,396.9116 | 646,033.4097 | 665,431.5271 | 593,279.3768 | 551,474.54 | 696,215.8123 | 703,095.2043 | 8,126,233.2048 | 8,052,045.8593 |
| Receipts: customers in Spain | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 40,778.4362 | 72,038.1996 | 80,398.3278 | 99,922.4149 | 79,506.0159 | 78,549.0627 | 94,173.0744 | 85,998.8891 | 81,820.3669 | 79,829.959 | 77,969.4719 | 83,510.5995 | 80,252.1862 | 69,342.6968 | 79,181.4378 | 87,947.6975 | 1,074,657.6586 | 978,081.4577 |
| Rebates and incentives received | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 32,143.3 | 0 | 0 | 23,683.86 | 0 | 0 | 19,254.82 | 0 | 0 | 16,792.0372 | 0 | 0 | 18,626.5453 | 0 | 0 | 22,021.568 | 0 | 0 | 17,280.178 | 0 | 0 | 9,527.2101 | 0 | 91,874.0172 | 67,455.5014 |
| IRC refunded | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 110,385.6406 | 0 | 0 | 0 | 0 | 110,385.6406 |
| Net pay and meal cards | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -109,386.22 | -110,723.56 | -111,188.41 | -111,996.97 | -108,117.18 | -203,064.63 | -107,552.39 | -109,658 | -107,261.9133 | -110,111.1398 | -207,981.53 | -111,219.4315 | -117,950.988 | -122,316.7326 | -118,123.9398 | -119,416.4393 | -119,571.3773 | -223,004.084 | -118,674.3058 | -116,172.9477 | -118,080.594 | -118,594.6167 | -221,958.3732 | -117,407.0302 | -1,508,261.3746 | -1,631,271.4286 |
| Work accident and health insurance | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -3,533.66 | -3,588.24 | -3,595.58 | -3,546.26 | -3,496.94 | -3,485.91 | -3,530.51 | -3,530.51 | -3,501.9557 | -3,581.094 | -3,649.3997 | -3,640.9225 | -3,872.4091 | -3,863.591 | -3,889.0316 | -3,916.0048 | -3,907.6212 | -3,937.3465 | -3,929.1282 | -3,920.9265 | -3,913.0082 | -3,905.1049 | -3,897.2166 | -3,889.3452 | -42,680.9819 | -46,840.7338 |
| Social security (20th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -44,038.67 | -45,315.69 | -45,932.9 | -46,187.05 | -46,962.7 | -45,041.5 | -90,165.95 | -45,140.12 | -46,692.32 | -44,632.556 | -45,543.148 | -91,623.893 | -46,238.8342 | -48,937.3691 | -51,080.9825 | -49,026.8865 | -49,859.8645 | -49,718.0237 | -98,844.9922 | -49,857.8698 | -49,310.2476 | -49,145.1833 | -49,171.0673 | -98,051.5059 | -637,276.497 | -689,242.8266 |
| IRS withheld (20th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -19,781.39 | -20,355.69 | -20,648.52 | -20,834.62 | -21,215.21 | -20,426.49 | -40,607.39 | -20,243.89 | -20,916.9 | -20,024.9029 | -20,290.8986 | -40,863.8743 | -20,580.8416 | -22,106.9739 | -23,036.7632 | -22,084.4224 | -22,390.909 | -22,330.4063 | -44,343.6917 | -22,361.0691 | -22,124.0829 | -22,052.7477 | -22,064.2033 | -44,022.9828 | -286,209.7758 | -309,499.0938 |
| IRC withheld on rent (20th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -2,560.97 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -31,435.97 | -32,221.875 |
| Hardware distributors | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -265,273.96 | -171,017.48 | -213,959.75 | -259,420.58 | -209,385.41 | -218,285.26 | -272,849.15 | -190,772.21 | -99,562.9463 | -268,202.9047 | -251,616.0899 | -190,775.2746 | -177,684.1523 | -160,669.4182 | -189,103.1869 | -204,810.0504 | -176,893.6356 | -194,049.0899 | -229,225.0143 | -156,431.2553 | -87,660.4399 | -280,927.2908 | -251,616.0899 | -190,775.2746 | -2,611,121.0154 | -2,299,844.898 |
| Licence distributor | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -193,719.66 | -349,276.45 | -139,566.97 | -159,995.68 | -146,302.45 | -141,212.09 | -151,673.02 | -141,778.32 | -118,786.577 | -148,639.6577 | -144,734.489 | -145,915.3057 | -163,000.8051 | -345,763.8639 | -133,394.7465 | -146,434.3491 | -134,822.8712 | -131,331.4319 | -142,249.1262 | -131,563.8735 | -110,833.761 | -148,217.9794 | -145,317.7416 | -146,564.5544 | -1,981,600.6694 | -1,879,495.1037 |
| Tooling vendor in USD (15th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -19,321.57 | -19,196.39 | -19,532.52 | -20,019.3 | -20,160.36 | -19,710.27 | -19,650.61 | -20,065.48 | -21,705.3148 | -21,722.9396 | -21,465.5065 | -21,403.3106 | -21,310.0712 | -21,972.139 | -21,929.7452 | -21,217.8809 | -21,303.0117 | -21,273.688 | -21,405.6472 | -21,384.7024 | -21,129.1578 | -21,146.8285 | -21,134.2506 | -21,081.1105 | -243,953.5714 | -256,288.233 |
| Other suppliers incl. VAT and IT equipment | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -41,041.89 | -38,265.72 | -44,873.9 | -71,149.64 | -51,792.63 | -61,416.53 | -60,928.04 | -59,626.62 | -45,069.4557 | -51,445.9522 | -71,705.2693 | -62,734.1271 | -43,626.2719 | -58,688.185 | -48,805.7951 | -61,923.4066 | -52,368.4275 | -55,780.006 | -53,161.1244 | -48,309.0111 | -41,579.0813 | -49,460.3248 | -57,645.0747 | -49,925.2281 | -660,049.7743 | -621,271.9365 |
| Direct debits: insurance, travel, telecoms, vans | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -16,102.1185 | -15,925.6652 | -14,697.0943 | -14,607.3129 | -15,080.9995 | -15,945.7674 | -15,615.2122 | -16,004.1479 | -15,751.76 | -15,707.9329 | -15,697.6949 | -15,687.2427 | -16,068.4958 | -16,057.5964 | -16,046.7238 | -16,643.1886 | -16,626.6976 | -16,610.2844 | -16,598.1997 | -16,586.1123 | -16,574.0228 | -16,561.9616 | -16,549.9284 | -16,537.9228 | -186,822.9484 | -197,461.1343 |
| Rent, net of the IRC withheld | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -94,500 | -96,862.5 |
| VAT | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -72,032.56 | -63,480.47 | -55,311.12 | -43,816.63 | -38,392.7 | -61,335.95 | -46,260.95 | 0 | -87,264.6245 | -50,238.0505 | -41,802.512 | -37,436.0289 | -62,309.8098 | -49,819.8904 | -60,550.4917 | -47,456.086 | -46,584.1171 | -50,048.9585 | -46,715.6786 | 0 | -98,713.5267 | -49,386.6762 | -38,807.0471 | -47,501.5328 | -597,371.5959 | -597,893.8148 |
| IRC: payments on account and balance | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | 0 | -105,752.96 | -73,084.59 | 0 | -73,084.5925 | 0 | 0 | -73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | -31,906.0134 | 0 | -31,906.0134 | 0 | 0 | -31,906.0134 | -325,006.735 | -95,718.0403 |
| Loan interest | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -4,752.58 | -4,640.22 | -4,699 | -4,704 | -4,652.08 | -4,578.67 | -4,477.92 | -4,409.78 | -4,736.1112 | -4,583.3335 | -4,430.5557 | -4,277.7779 | -4,125.0002 | -3,972.2224 | -3,819.4447 | -3,666.6669 | -3,513.8891 | -3,361.1114 | -3,208.3336 | -3,055.5558 | -2,902.7781 | -2,750.0003 | -2,597.2226 | -2,444.4448 | -54,942.0284 | -39,416.6699 |
| Loan principal | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -399,999.96 | -399,999.96 |
| Dividends paid, net | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | -259,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -259,200 | 0 |
| IRS withheld on dividends paid to the State | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | 0 | -100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -100,800 | 0 |
| NET CASH FLOW, DIRECT METHOD | DIRECT METHOD (built from the cash lines of each schedule) | 131,285.6915 | 109,970.4548 | 93,846.0557 | -29,472.6229 | -104,388.5295 | -270,761.3774 | -160,811.4122 | 122,384.6121 | -344,939.2667 | -136,500.4856 | -84,505.8802 | -54,575.2565 | 76,959.14 | -90,026.3752 | 212,501.5796 | -16,087.58 | 71,899.9952 | -99,313.3899 | -130,354.2038 | 152,483.1512 | 135,094.6599 | -185,427.3073 | -89,929.585 | -23,159.8737 | -728,468.0169 | 14,640.2109 | |
| CHECK: indirect less direct (must be zero) | DIRECT METHOD (built from the cash lines of each schedule) | 0.01 | 0.02 | 0 | -0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.03 | 0 |
Operating drivers
Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C01 Brevanor Têxteis, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 422 | 423 | 422 | 423 | 423 | 424 | 424 | 425 | 425.425 | 425.8504 | 426.2763 | 426.7026 | 427.1293 | 427.5564 | 213.992 | 214.206 | 214.4202 | 214.6346 | 214.8492 | 215.0641 | 215.2791 | 215.4944 | 215.7099 | 215.9256 | 426.7026 | 215.9256 |
| C02 Clínicas Almedra, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 260 | 262 | 262 | 263 | 265 | 266 | 267 | 269 | 269.538 | 270.0771 | 270.6172 | 271.1585 | 271.7008 | 272.2442 | 272.7887 | 273.3342 | 273.8809 | 274.4287 | 274.9775 | 275.5275 | 276.0785 | 276.6307 | 277.184 | 277.7383 | 271.1585 | 277.7383 |
| C03 Solvinha Calçado, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 150 | 151 | 152 | 152 | 153 | 153 | 153 | 153 | 153.0765 | 122.5224 | 122.5837 | 122.645 | 122.7063 | 122.7677 | 122.829 | 122.8905 | 122.9519 | 123.0134 | 123.0749 | 123.1364 | 123.198 | 123.2596 | 123.3212 | 123.3829 | 122.645 | 123.3829 |
| C04 Valcorra Advogados | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 95 | 95 | 95 | 96 | 96 | 96 | 95 | 96 | 96.096 | 96.1921 | 96.2883 | 96.3846 | 96.481 | 96.5774 | 96.674 | 96.7707 | 96.8675 | 96.9643 | 97.0613 | 97.1584 | 97.2555 | 97.3528 | 97.4501 | 97.5476 | 96.3846 | 97.5476 |
| C05 Colégios Maravel | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 311 | 312 | 312 | 312 | 312 | 312 | 313 | 314 | 314.314 | 314.6283 | 314.9429 | 315.2579 | 315.5731 | 315.8887 | 316.2046 | 316.5208 | 316.8373 | 317.1542 | 317.4713 | 270.1205 | 270.3906 | 270.661 | 270.9316 | 271.2026 | 315.2579 | 271.2026 |
| C06 Metalúrgica Vaurinho, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 121 | 121 | 122 | 122 | 121 | 122 | 122 | 122 | 122.061 | 122.122 | 122.1831 | 122.2442 | 122.3053 | 122.3665 | 122.4276 | 122.4889 | 122.5501 | 122.6114 | 122.6727 | 122.734 | 122.7954 | 122.8568 | 122.9182 | 122.9797 | 122.2442 | 122.9797 |
| C07 Quintas Delvara, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 86 | 86 | 87 | 87 | 87 | 87 | 88 | 88 | 88.132 | 88.2642 | 88.3966 | 88.5292 | 88.662 | 75.4757 | 75.5889 | 75.7023 | 75.8159 | 75.9296 | 76.0435 | 76.1576 | 76.2718 | 76.3862 | 76.5008 | 76.6155 | 88.5292 | 76.6155 |
| C08 Farmácias Oliveda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 180 | 181 | 182 | 183 | 184 | 185 | 185 | 185 | 185.2775 | 185.5554 | 185.8337 | 186.1125 | 186.3917 | 186.6713 | 186.9513 | 187.2317 | 187.5125 | 187.7938 | 188.0755 | 188.3576 | 188.6401 | 188.9231 | 189.2065 | 189.4903 | 186.1125 | 189.4903 |
| C09 Moldivel Plásticos, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 139 | 140 | 140 | 141 | 142 | 142 | 142 | 143 | 143.143 | 143.2861 | 143.4294 | 143.5729 | 143.7164 | 143.8601 | 144.004 | 144.148 | 144.2922 | 144.4365 | 144.5809 | 144.7255 | 144.8702 | 145.0151 | 145.1601 | 145.3052 | 143.5729 | 145.3052 |
| C10 Pravel Contabilidade, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 60 | 60 | 60 | 60 | 60 | 61 | 61 | 61 | 61.061 | 61.1221 | 61.1832 | 61.2444 | 61.3056 | 61.3669 | 61.4283 | 61.4897 | 61.5512 | 61.6128 | 61.6744 | 61.736 | 61.7978 | 54.4364 | 54.4909 | 54.5454 | 61.2444 | 54.5454 |
| C11 Hotéis Alvenosa | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 130 | 131 | 131 | 131 | 131 | 131 | 131 | 132 | 132.132 | 132.2641 | 132.3964 | 132.5288 | 132.6613 | 132.794 | 132.9268 | 133.0597 | 133.1928 | 133.326 | 133.4593 | 133.5927 | 133.7263 | 133.8601 | 133.9939 | 134.1279 | 132.5288 | 134.1279 |
| C12 Cerâmicas Lovredo, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 110 | 110 | 111 | 110 | 110 | 111 | 111 | 111 | 111.0555 | 111.111 | 93.3799 | 93.4266 | 93.4733 | 93.5201 | 93.5668 | 93.6136 | 93.6604 | 93.7073 | 93.7541 | 93.801 | 93.8479 | 93.8948 | 93.9418 | 93.9887 | 93.4266 | 93.9887 |
| C13 Castelvi Imobiliária | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 70 | 70 | 70 | 71 | 71 | 71 | 71 | 71 | 71.1065 | 71.2132 | 71.32 | 71.427 | 71.5341 | 71.6414 | 71.7489 | 71.8565 | 71.9643 | 72.0722 | 72.1803 | 72.2886 | 72.397 | 72.5056 | 72.6144 | 72.7233 | 71.427 | 72.7233 |
| C14 Agrícola Vinhedal | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 90 | 91 | 91 | 91 | 92 | 92 | 92 | 92 | 92.092 | 92.1841 | 92.2763 | 92.3686 | 92.4609 | 92.5534 | 92.6459 | 92.7386 | 92.8313 | 92.9242 | 93.0171 | 93.1101 | 93.2032 | 93.2964 | 93.3897 | 93.4831 | 92.3686 | 93.4831 |
| C15 Engenharia Morvelo, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 75 | 76 | 76 | 77 | 77 | 77 | 77 | 78 | 78.117 | 78.2342 | 78.3515 | 78.4691 | 78.5868 | 78.7046 | 78.8227 | 78.9409 | 67.991 | 68.093 | 68.1952 | 68.2975 | 68.3999 | 68.5025 | 68.6053 | 68.7082 | 78.4691 | 68.7082 |
| C16 Cooperativa Leiteira Bravanha | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 160 | 160 | 160 | 161 | 160 | 161 | 161 | 162 | 162.081 | 129.7296 | 129.7945 | 129.8594 | 129.9243 | 129.9893 | 130.0543 | 130.1193 | 130.1844 | 130.2495 | 130.3146 | 130.3797 | 130.4449 | 130.5102 | 130.5754 | 130.6407 | 129.8594 | 130.6407 |
| C17 Laboratórios Cendral, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 116 | 116 | 117 | 118 | 118 | 119 | 119 | 119 | 119.238 | 119.4765 | 119.7154 | 119.9549 | 120.1948 | 120.4352 | 120.676 | 120.9174 | 121.1592 | 121.4015 | 121.6443 | 107.2611 | 107.4756 | 107.6906 | 107.906 | 108.1218 | 119.9549 | 108.1218 |
| C18 Mediavir Seguros | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 55 | 55 | 55 | 55 | 55 | 56 | 56 | 56 | 56.084 | 56.1681 | 56.2524 | 56.3368 | 56.4213 | 56.5059 | 56.5907 | 56.6755 | 56.7606 | 56.8457 | 56.931 | 57.0164 | 57.1019 | 57.1875 | 57.2733 | 57.3592 | 56.3368 | 57.3592 |
| C19 Construtora Arvedo, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 145 | 145 | 145 | 145 | 146 | 146 | 147 | 147 | 147.147 | 147.2941 | 147.4414 | 147.5889 | 147.7365 | 147.8842 | 148.0321 | 148.1801 | 148.3283 | 148.4766 | 148.6251 | 148.7737 | 148.9225 | 149.0714 | 149.2205 | 149.3697 | 147.5889 | 149.3697 |
| C20 Distribuidora Pellano, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 125 | 126 | 126 | 127 | 127 | 127 | 128 | 128 | 128.128 | 128.2561 | 128.3844 | 128.5128 | 108.0587 | 108.1667 | 108.2749 | 108.3832 | 108.4916 | 108.6001 | 108.7087 | 108.8174 | 108.9262 | 109.0351 | 109.1441 | 109.2533 | 128.5128 | 109.2533 |
| C21 Gráfica Tornavel, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 |
| C22 Óticas Lumarel | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 95 | 96 | 96 | 96 | 96 | 96 | 97 | 97 | 97.1455 | 97.2912 | 97.4372 | 97.5833 | 97.7297 | 97.8763 | 98.0231 | 98.1701 | 98.3174 | 98.4649 | 98.6126 | 98.7605 | 98.9086 | 99.057 | 85.3168 | 85.4448 | 97.5833 | 85.4448 |
| C23 Salmeira Arquitetos | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 40 | 40 | 40 | 41 | 41 | 41 | 41 | 41 | 41.0615 | 41.1231 | 41.1848 | 41.2466 | 41.3084 | 41.3704 | 41.4324 | 41.4946 | 41.5568 | 41.6192 | 41.6816 | 41.7441 | 41.8067 | 41.8694 | 41.9322 | 41.9951 | 41.2466 | 41.9951 |
| C24 Traslovia Transportes, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 151 | 151 | 150 | 150 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| C25 Conservas Brelmar, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 140 | 141 | 142 | 142 | 141 | 141 | 142 | 143 | 143.143 | 143.2861 | 143.4294 | 143.5729 | 143.7164 | 143.8601 | 144.004 | 122.5258 | 122.6483 | 122.771 | 122.8938 | 123.0166 | 123.1397 | 123.2628 | 123.3861 | 123.5095 | 143.5729 | 123.5095 |
| C26 Talleres Brañoso, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 90 | 90 | 90 | 91 | 91 | 91 | 91 | 92 | 92.092 | 92.1841 | 92.2763 | 92.3686 | 92.4609 | 92.5534 | 92.6459 | 92.7386 | 92.8313 | 92.9242 | 93.0171 | 93.1101 | 93.2032 | 93.2964 | 93.3897 | 93.4831 | 92.3686 | 93.4831 |
| C27 Clínica Veigadal, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 70 | 70 | 71 | 71 | 72 | 72 | 72 | 73 | 73.1095 | 73.2192 | 73.329 | 73.439 | 73.5491 | 73.6595 | 73.77 | 73.8806 | 73.9914 | 74.1024 | 74.2136 | 74.3249 | 74.4364 | 74.548 | 74.6599 | 74.7718 | 73.439 | 74.7718 |
| C28 Maderas Ouriñal, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 80 | 80 | 81 | 81 | 81 | 81 | 81 | 80 | 80.04 | 80.08 | 80.1201 | 80.1601 | 80.2002 | 80.2403 | 80.2804 | 80.3206 | 80.3607 | 80.4009 | 80.4411 | 80.4813 | 80.5216 | 80.5618 | 80.6021 | 80.6424 | 80.1601 | 80.6424 |
| C29 Pesqueras Morazal, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 95 | 95 | 95 | 95 | 95 | 95 | 94 | 95 | 95.0475 | 95.095 | 95.1426 | 71.3926 | 71.4283 | 71.464 | 71.4997 | 71.5355 | 71.5713 | 71.6071 | 71.6429 | 71.6787 | 71.7145 | 71.7504 | 71.7862 | 71.8221 | 71.3926 | 71.8221 |
| C30 Bodegas Quenlla, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 55 | 55 | 56 | 56 | 56 | 56 | 56 | 56 | 56.056 | 56.1121 | 56.1682 | 56.2243 | 56.2806 | 56.3368 | 56.3932 | 56.4496 | 56.506 | 56.5625 | 48.1262 | 48.1744 | 48.2225 | 48.2707 | 48.319 | 48.3673 | 56.2243 | 48.3673 |
| C31 Ferroval Automação, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 0 | 0 | 80 | 80 | 81 | 81 | 81 | 81 | 81.162 | 81.3243 | 81.487 | 81.6499 | 81.8132 | 81.9769 | 82.1408 | 82.3051 | 82.4697 | 82.6347 | 82.7999 | 82.9655 | 83.1315 | 83.2977 | 83.4643 | 83.6312 | 81.6499 | 83.6312 |
| C32 Clínica Dentária Rosmel | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 0 | 0 | 0 | 0 | 66 | 66 | 67 | 67 | 67.134 | 67.2683 | 67.4028 | 67.5376 | 67.6727 | 67.808 | 67.9436 | 68.0795 | 68.2157 | 68.3521 | 68.4888 | 68.6258 | 68.7631 | 68.9006 | 69.0384 | 69.1765 | 67.5376 | 69.1765 |
| C33 Mobiliário Tarvela, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 0 | 0 | 0 | 0 | 0 | 0 | 108 | 109 | 109.1635 | 109.3272 | 109.4912 | 109.6555 | 109.82 | 109.9847 | 110.1497 | 110.3149 | 110.4804 | 110.6461 | 110.812 | 110.9783 | 111.1447 | 111.3115 | 111.4784 | 111.6456 | 109.6555 | 111.6456 |
| P01 Grupo Hospitalar Venara (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 168 | 168.252 | 168.5044 | 168.7571 | 169.0103 | 169.2638 | 169.5177 | 169.772 | 170.0266 | 170.2817 | 170.5371 | 170.7929 | 0 | 170.7929 |
| P02 Exportadora Linhelo, S.A. (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36 | 36.054 | 36.1081 | 36.1622 | 36.2165 | 36.2708 | 36.3252 | 36.3797 | 36.4343 | 36.4889 | 0 | 36.4889 |
| P03 Logística Crastova, Lda (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35 | 35.035 | 35.07 | 35.1051 | 35.1402 | 35.1754 | 35.2105 | 35.2457 | 35.281 | 0 | 35.281 |
| P04 Conservas Galmira, S.L. (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25 | 25.025 | 25.05 | 25.0751 | 25.1002 | 25.1253 | 25.1504 | 0 | 25.1504 |
| C01 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 95 | 95 | 95 | 96 | 96 | 96 | 96 | 96 | 96.048 | 96.096 | 96.1441 | 96.1921 | 96.2402 | 96.2884 | 48.1683 | 48.1923 | 48.2164 | 48.2405 | 48.2647 | 48.2888 | 48.3129 | 48.3371 | 48.3613 | 48.3854 | 96.1921 | 48.3854 |
| C02 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70.07 | 70.1401 | 70.2102 | 70.2804 | 70.3507 | 70.4211 | 70.4915 | 70.562 | 70.6325 | 70.7032 | 70.7739 | 70.8446 | 70.9155 | 70.9864 | 71.0574 | 71.1284 | 70.2804 | 71.1284 |
| C03 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38.0095 | 30.4152 | 30.4228 | 30.4304 | 30.438 | 30.4456 | 30.4532 | 30.4609 | 30.4685 | 30.4761 | 30.4837 | 30.4913 | 30.4989 | 30.5066 | 30.5142 | 30.5218 | 30.4304 | 30.5218 |
| C04 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22.011 | 22.022 | 22.033 | 22.044 | 22.0551 | 22.0661 | 22.0771 | 22.0882 | 22.0992 | 22.1102 | 22.1213 | 22.1324 | 22.1434 | 22.1545 | 22.1656 | 22.1767 | 22.044 | 22.1767 |
| C05 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 85 | 85 | 85 | 85 | 86 | 86 | 86 | 87 | 87.0435 | 87.087 | 87.1306 | 87.1741 | 87.2177 | 87.2613 | 87.305 | 87.3486 | 87.3923 | 87.436 | 87.4797 | 74.3949 | 74.4321 | 74.4693 | 74.5066 | 74.5438 | 87.1741 | 74.5438 |
| C06 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40.01 | 40.02 | 40.03 | 40.04 | 40.05 | 40.06 | 40.0701 | 40.0801 | 40.0901 | 40.1001 | 40.1101 | 40.1202 | 40.1302 | 40.1402 | 40.1503 | 40.1603 | 40.04 | 40.1603 |
| C07 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 30 | 30 | 30 | 30 | 31 | 31 | 31 | 31 | 31.0233 | 31.0465 | 31.0698 | 31.0931 | 31.1164 | 26.4688 | 26.4886 | 26.5085 | 26.5284 | 26.5483 | 26.5682 | 26.5881 | 26.6081 | 26.628 | 26.648 | 26.668 | 31.0931 | 26.668 |
| C08 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 90 | 90 | 91 | 91 | 91 | 91 | 91 | 91 | 91.0683 | 91.1366 | 91.2049 | 91.2733 | 91.3418 | 91.4103 | 91.4788 | 91.5474 | 91.6161 | 91.6848 | 91.7536 | 91.8224 | 91.8913 | 91.9602 | 92.0291 | 92.0982 | 91.2733 | 92.0982 |
| C09 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45.0225 | 45.045 | 45.0675 | 45.0901 | 45.1126 | 45.1352 | 45.1577 | 45.1803 | 45.2029 | 45.2255 | 45.2481 | 45.2707 | 45.2934 | 45.316 | 45.3387 | 45.3614 | 45.0901 | 45.3614 |
| C10 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12.006 | 12.012 | 12.018 | 12.024 | 12.03 | 12.036 | 12.0421 | 12.0481 | 12.0541 | 12.0601 | 12.0662 | 12.0722 | 12.0782 | 10.6342 | 10.6395 | 10.6448 | 12.024 | 10.6448 |
| C11 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60.03 | 60.06 | 60.09 | 60.1201 | 60.1502 | 60.1802 | 60.2103 | 60.2404 | 60.2705 | 60.3007 | 60.3308 | 60.361 | 60.3912 | 60.4214 | 60.4516 | 60.4818 | 60.1201 | 60.4818 |
| C12 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36.009 | 36.018 | 30.2627 | 30.2703 | 30.2778 | 30.2854 | 30.293 | 30.3005 | 30.3081 | 30.3157 | 30.3233 | 30.3308 | 30.3384 | 30.346 | 30.3536 | 30.3612 | 30.2703 | 30.3612 |
| C13 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15.0113 | 15.0225 | 15.0338 | 15.0451 | 15.0563 | 15.0676 | 15.0789 | 15.0902 | 15.1016 | 15.1129 | 15.1242 | 15.1356 | 15.1469 | 15.1583 | 15.1696 | 15.181 | 15.0451 | 15.181 |
| C14 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28.014 | 28.028 | 28.042 | 28.056 | 28.0701 | 28.0841 | 28.0981 | 28.1122 | 28.1263 | 28.1403 | 28.1544 | 28.1685 | 28.1825 | 28.1966 | 28.2107 | 28.2248 | 28.056 | 28.2248 |
| C15 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20.015 | 20.03 | 20.045 | 20.0601 | 20.0751 | 20.0902 | 20.1052 | 20.1203 | 17.3164 | 17.3294 | 17.3424 | 17.3554 | 17.3685 | 17.3815 | 17.3945 | 17.4076 | 20.0601 | 17.4076 |
| C16 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 52 | 52 | 52 | 52 | 52 | 53 | 52 | 52 | 52.013 | 41.6208 | 41.6312 | 41.6416 | 41.652 | 41.6624 | 41.6729 | 41.6833 | 41.6937 | 41.7041 | 41.7145 | 41.725 | 41.7354 | 41.7458 | 41.7563 | 41.7667 | 41.6416 | 41.7667 |
| C17 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 42 | 42 | 42 | 43 | 43 | 43 | 43 | 43 | 43.043 | 43.086 | 43.1291 | 43.1723 | 43.2154 | 43.2586 | 43.3019 | 43.3452 | 43.3886 | 43.4319 | 43.4754 | 38.2966 | 38.3349 | 38.3732 | 38.4116 | 38.45 | 43.1723 | 38.45 |
| C18 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10.0075 | 10.015 | 10.0225 | 10.03 | 10.0376 | 10.0451 | 10.0526 | 10.0602 | 10.0677 | 10.0753 | 10.0828 | 10.0904 | 10.0979 | 10.1055 | 10.1131 | 10.1207 | 10.03 | 10.1207 |
| C19 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38.019 | 38.038 | 38.057 | 38.0761 | 38.0951 | 38.1141 | 38.1332 | 38.1523 | 38.1713 | 38.1904 | 38.2095 | 38.2286 | 38.2477 | 38.2669 | 38.286 | 38.3051 | 38.0761 | 38.3051 |
| C20 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40.02 | 40.04 | 40.06 | 40.0801 | 33.6841 | 33.7009 | 33.7178 | 33.7346 | 33.7515 | 33.7684 | 33.7853 | 33.8022 | 33.8191 | 33.836 | 33.8529 | 33.8698 | 40.0801 | 33.8698 |
| C21 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| C22 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 50 | 50 | 50 | 50 | 51 | 51 | 51 | 51 | 51.0382 | 51.0765 | 51.1148 | 51.1532 | 51.1915 | 51.2299 | 51.2684 | 51.3068 | 51.3453 | 51.3838 | 51.4223 | 51.4609 | 51.4995 | 51.5381 | 44.356 | 44.3893 | 51.1532 | 44.3893 |
| C23 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9.0068 | 9.0135 | 9.0203 | 9.027 | 9.0338 | 9.0406 | 9.0474 | 9.0541 | 9.0609 | 9.0677 | 9.0745 | 9.0813 | 9.0881 | 9.095 | 9.1018 | 9.1086 | 9.027 | 9.1086 |
| C24 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 40 | 40 | 40 | 40 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| C25 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 45 | 45 | 46 | 46 | 46 | 46 | 47 | 47 | 47.0235 | 47.047 | 47.0705 | 47.0941 | 47.1176 | 47.1412 | 47.1647 | 40.1101 | 40.1301 | 40.1502 | 40.1703 | 40.1904 | 40.2105 | 40.2306 | 40.2507 | 40.2708 | 47.0941 | 40.2708 |
| C26 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34.017 | 34.034 | 34.051 | 34.0681 | 34.0851 | 34.1021 | 34.1192 | 34.1362 | 34.1533 | 34.1704 | 34.1875 | 34.2046 | 34.2217 | 34.2388 | 34.2559 | 34.273 | 34.0681 | 34.273 |
| C27 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18.0135 | 18.027 | 18.0405 | 18.0541 | 18.0676 | 18.0812 | 18.0947 | 18.1083 | 18.1219 | 18.1355 | 18.1491 | 18.1627 | 18.1763 | 18.1899 | 18.2036 | 18.2172 | 18.0541 | 18.2172 |
| C28 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30.0075 | 30.015 | 30.0225 | 30.03 | 30.0375 | 30.045 | 30.0525 | 30.0601 | 30.0676 | 30.0751 | 30.0826 | 30.0901 | 30.0976 | 30.1052 | 30.1127 | 30.1202 | 30.03 | 30.1202 |
| C29 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36.009 | 36.018 | 36.027 | 27.027 | 27.0338 | 27.0405 | 27.0473 | 27.054 | 27.0608 | 27.0676 | 27.0743 | 27.0811 | 27.0879 | 27.0947 | 27.1014 | 27.1082 | 27.027 | 27.1082 |
| C30 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20.01 | 20.02 | 20.03 | 20.04 | 20.0501 | 20.0601 | 20.0701 | 20.0801 | 20.0902 | 20.1002 | 17.0937 | 17.1023 | 17.1108 | 17.1194 | 17.1279 | 17.1365 | 20.04 | 17.1365 |
| C31 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 0 | 0 | 28 | 28 | 28 | 28 | 28 | 29 | 29.029 | 29.058 | 29.0871 | 29.1162 | 29.1453 | 29.1744 | 29.2036 | 29.2328 | 29.262 | 29.2913 | 29.3206 | 29.3499 | 29.3793 | 29.4086 | 29.4381 | 29.4675 | 29.1162 | 29.4675 |
| C32 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 0 | 0 | 0 | 0 | 20 | 20 | 20 | 20 | 20.02 | 20.04 | 20.0601 | 20.0801 | 20.1002 | 20.1203 | 20.1404 | 20.1606 | 20.1807 | 20.2009 | 20.2211 | 20.2413 | 20.2616 | 20.2818 | 20.3021 | 20.3224 | 20.0801 | 20.3224 |
| C33 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 0 | 0 | 0 | 0 | 0 | 0 | 33 | 33 | 33.0247 | 33.0495 | 33.0743 | 33.0991 | 33.1239 | 33.1488 | 33.1736 | 33.1985 | 33.2234 | 33.2483 | 33.2733 | 33.2982 | 33.3232 | 33.3482 | 33.3732 | 33.3982 | 33.0991 | 33.3982 |
| P01 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 49 | 49.0367 | 49.0735 | 49.1103 | 49.1472 | 49.184 | 49.2209 | 49.2578 | 49.2948 | 49.3317 | 49.3687 | 49.4058 | 0 | 49.4058 |
| P02 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 12.009 | 12.018 | 12.027 | 12.036 | 12.0451 | 12.0541 | 12.0631 | 12.0722 | 12.0812 | 0 | 12.0812 |
| P03 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13.75 | 13.7569 | 13.7638 | 13.7706 | 13.7775 | 13.7844 | 13.7913 | 13.7982 | 13.8051 | 0 | 13.8051 |
| P04 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.75 | 8.7544 | 8.7588 | 8.7631 | 8.7675 | 8.7719 | 8.7763 | 0 | 8.7763 |
| C01 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 1.026 | 0.9893 |
| C02 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C03 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9787 | 0.9787 | 0.9787 | 0.9643 | 0.9787 |
| C04 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C05 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 1.026 | 0.9893 |
| C06 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C07 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 1.026 | 0.9893 |
| C08 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C09 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C10 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 0.9787 | 0.9787 | 0.9787 | 1.015 | 0.9787 |
| C11 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C12 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9787 | 0.9787 | 0.9643 | 0.9787 |
| C13 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C14 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C15 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 1.026 | 0.9893 |
| C16 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9787 | 0.9787 | 0.9787 | 0.9643 | 0.9787 |
| C17 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 1.026 | 0.9893 |
| C18 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C19 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C20 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 1.026 | 0.9893 |
| C21 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C22 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 0.9787 | 0.9787 | 1.015 | 0.9787 |
| C23 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.0302 | 1.0302 | 1.0302 | 1.0302 | 1.015 | 1.0302 |
| C24 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| C25 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 1.026 | 0.9893 |
| C26 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C27 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.0414 | 1.026 | 1.0414 |
| C28 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.0302 | 1.0302 | 1.0302 | 1.015 | 1.0302 |
| C29 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9643 | 0.9787 | 0.9643 | 0.9787 |
| C30 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 0.9893 | 1.026 | 0.9893 |
| C31 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1 | 1.015 |
| C32 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1 | 1.015 |
| C33 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1.015 | 1 | 1.015 |
| P01 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| P02 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| P03 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| P04 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| C01 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 22,327 | 22,365.5 | 22,907.5 | 23,012.67 | 23,012.67 | 23,052.17 | 23,052.17 | 23,091.67 | 23,111.6098 | 23,131.568 | 23,151.5445 | 23,171.5394 | 23,191.5528 | 23,211.5846 | 11,200.5519 | 11,210.2276 | 11,219.9121 | 11,229.6056 | 11,239.308 | 11,249.0193 | 11,258.7396 | 11,268.4688 | 11,278.207 | 11,287.9542 | 275,387.6117 | 158,845.1316 |
| C02 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 15,500 | 15,588 | 15,588 | 16,038.43 | 16,128.72 | 16,173.86 | 16,219.01 | 16,309.3 | 16,337.753 | 16,366.2588 | 16,394.8174 | 16,423.429 | 16,452.0936 | 16,480.8114 | 16,509.5824 | 16,786.4828 | 16,815.7938 | 16,845.1592 | 16,874.579 | 16,904.0533 | 16,933.5824 | 16,963.1662 | 16,992.8049 | 17,022.4986 | 193,067.5783 | 201,580.6075 |
| C03 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,090 | 8,130 | 8,170 | 8,170 | 8,210 | 8,210 | 8,210 | 8,210 | 8,213.5825 | 6,338.7224 | 6,341.4885 | 6,344.2559 | 6,347.0245 | 6,349.7945 | 6,352.5657 | 6,355.3382 | 6,358.112 | 6,360.8871 | 6,363.6635 | 6,366.4412 | 6,369.2201 | 6,467.5804 | 6,470.4036 | 6,473.2282 | 92,638.0492 | 76,634.259 |
| C04 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,524 | 6,524 | 6,693.62 | 6,746.98 | 6,746.98 | 6,746.98 | 6,693.62 | 6,746.98 | 6,752.9144 | 6,758.8543 | 6,764.7998 | 6,770.7507 | 6,776.7073 | 6,782.6694 | 6,890.4665 | 6,896.5293 | 6,902.5978 | 6,908.6719 | 6,914.7516 | 6,920.8371 | 6,926.9282 | 6,933.0249 | 6,939.1274 | 6,945.2355 | 80,470.4792 | 82,737.5468 |
| C05 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 13,099 | 13,128 | 13,128 | 13,128 | 13,176 | 13,176 | 13,205 | 13,627.33 | 13,638.815 | 13,650.3105 | 13,661.8164 | 13,673.3327 | 13,684.8594 | 13,696.3967 | 13,707.9443 | 13,719.5025 | 13,731.0711 | 13,742.6502 | 13,754.2399 | 11,282.6545 | 11,292.1708 | 11,301.6957 | 11,311.2292 | 11,320.7713 | 160,291.6046 | 152,545.1857 |
| C06 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,552.39 | 7,552.39 | 7,594.45 | 7,594.45 | 7,552.39 | 7,594.45 | 7,594.45 | 7,594.45 | 7,597.6316 | 7,600.8147 | 7,603.9992 | 7,607.1851 | 7,724.5281 | 7,727.7647 | 7,731.0028 | 7,734.2424 | 7,737.4835 | 7,740.726 | 7,743.9699 | 7,747.2154 | 7,750.4623 | 7,753.7106 | 7,756.9604 | 7,760.2117 | 91,039.0506 | 92,908.2779 |
| C07 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,730 | 5,878.98 | 5,925.15 | 5,925.15 | 5,988.76 | 5,988.76 | 6,034.93 | 6,034.93 | 6,042.5034 | 6,050.0871 | 6,057.681 | 6,065.2852 | 6,072.8997 | 4,983.6739 | 4,989.9318 | 4,996.1981 | 5,002.4729 | 5,008.7562 | 5,015.0481 | 5,021.3484 | 5,027.6573 | 5,033.9747 | 5,040.3007 | 5,046.6353 | 71,722.2167 | 61,238.8972 |
| C08 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 11,357.82 | 11,397.83 | 11,484.02 | 11,524.03 | 11,564.05 | 11,604.06 | 11,604.06 | 11,604.06 | 11,618.315 | 11,632.589 | 11,646.882 | 11,661.1942 | 11,850.6583 | 11,865.2239 | 11,879.8089 | 11,894.4134 | 11,909.0375 | 11,923.681 | 11,938.3441 | 11,953.0267 | 11,967.729 | 11,982.4509 | 11,997.1925 | 12,011.9537 | 138,698.9102 | 143,173.5199 |
| C09 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,395 | 8,435 | 8,435 | 8,475 | 8,515 | 8,515 | 8,736.39 | 8,777.43 | 8,784.7531 | 8,792.0827 | 8,799.419 | 8,806.7619 | 8,814.1114 | 8,821.4675 | 8,828.8303 | 8,836.1996 | 8,843.5757 | 8,850.9583 | 8,991.2228 | 8,998.7298 | 9,006.2434 | 9,013.7639 | 9,021.2911 | 9,028.8251 | 103,466.8367 | 107,055.2189 |
| C10 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 3,840 | 3,840 | 3,840 | 3,840 | 3,840 | 3,890 | 3,890 | 3,890 | 3,893.47 | 3,955.3974 | 3,958.9261 | 3,962.4581 | 3,965.9934 | 3,969.532 | 3,973.0739 | 3,976.6192 | 3,980.1678 | 3,983.7198 | 3,987.2751 | 3,990.8337 | 3,994.3957 | 3,392.4298 | 3,395.458 | 3,398.489 | 46,640.2516 | 46,007.9873 |
| C11 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,930 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 8,212.1 | 8,218.7115 | 8,225.3289 | 8,231.9521 | 8,238.5811 | 8,245.2159 | 8,251.8565 | 8,258.503 | 8,265.1553 | 8,271.8135 | 8,278.4776 | 8,285.1475 | 8,416.2006 | 8,422.9824 | 8,429.7703 | 8,436.564 | 8,443.3638 | 96,858.6735 | 100,005.0504 |
| C12 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,706 | 6,706 | 6,747 | 6,706 | 6,706 | 6,747 | 6,747 | 6,747 | 6,749.8245 | 6,752.6503 | 5,471.734 | 5,474.0248 | 5,476.3167 | 5,478.6097 | 5,480.9036 | 5,483.1986 | 5,485.4947 | 5,487.7917 | 5,490.0898 | 5,492.389 | 5,494.6892 | 5,496.9904 | 5,581.782 | 5,584.1199 | 78,260.2336 | 66,032.3753 |
| C13 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 4,280 | 4,280 | 4,391.28 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 4,445.3974 | 4,451.3032 | 4,457.2172 | 4,463.1395 | 4,469.0701 | 4,475.009 | 4,548.1707 | 4,554.2156 | 4,560.269 | 4,566.331 | 4,572.4014 | 4,578.4804 | 4,584.5679 | 4,590.6639 | 4,596.7686 | 4,602.8817 | 52,965.8373 | 54,698.8294 |
| C14 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,134 | 5,173 | 5,173 | 5,173 | 5,347.51 | 5,347.51 | 5,347.51 | 5,347.51 | 5,352.0244 | 5,356.5429 | 5,361.0655 | 5,365.5922 | 5,370.123 | 5,374.6579 | 5,379.197 | 5,383.7401 | 5,469.1117 | 5,473.7314 | 5,478.3553 | 5,482.9834 | 5,487.6157 | 5,492.2522 | 5,496.8929 | 5,501.5378 | 63,478.265 | 65,390.1986 |
| C15 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,075 | 5,124 | 5,124 | 5,173 | 5,307.5 | 5,307.5 | 5,307.5 | 5,357.77 | 5,364.7294 | 5,371.6983 | 5,378.677 | 5,385.6653 | 5,392.6632 | 5,399.6709 | 5,406.6882 | 5,413.7153 | 4,495.1858 | 4,501.0291 | 4,506.8806 | 4,512.7402 | 4,518.6079 | 4,524.4837 | 4,530.3676 | 4,536.2597 | 63,277.0399 | 57,738.2921 |
| C16 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,724 | 8,724 | 8,724 | 8,760 | 8,724 | 8,817 | 8,760 | 8,796 | 8,799.657 | 6,790.8777 | 6,793.7012 | 6,796.526 | 6,799.3521 | 6,802.1795 | 6,805.0081 | 6,807.838 | 6,810.6692 | 6,813.5016 | 6,816.3353 | 6,819.1703 | 6,822.0066 | 6,927.2168 | 6,930.0982 | 6,932.9808 | 99,209.762 | 82,086.3565 |
| C17 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,192 | 8,192 | 8,238 | 8,352 | 8,352 | 8,398 | 8,398 | 8,616.35 | 8,630.5827 | 8,644.8408 | 8,659.1245 | 8,673.4337 | 8,687.7685 | 8,702.129 | 8,716.5152 | 8,730.9271 | 8,745.3649 | 8,759.8285 | 8,774.318 | 7,457.6767 | 7,470.0157 | 7,482.3768 | 7,494.76 | 7,507.1655 | 101,346.3316 | 98,528.8458 |
| C18 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 3,290 | 3,290 | 3,290 | 3,290 | 3,290 | 3,424.79 | 3,424.79 | 3,424.79 | 3,429.427 | 3,434.0706 | 3,438.7208 | 3,443.3776 | 3,448.0409 | 3,452.711 | 3,457.3876 | 3,462.0709 | 3,466.7608 | 3,523.5292 | 3,528.303 | 3,533.0836 | 3,537.871 | 3,542.6651 | 3,547.4661 | 3,552.2739 | 40,469.9659 | 42,052.163 |
| C19 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,790 | 7,992.54 | 7,992.54 | 7,992.54 | 8,031.53 | 8,031.53 | 8,070.52 | 8,070.52 | 8,077.4209 | 8,084.3281 | 8,091.2416 | 8,098.1614 | 8,105.0876 | 8,233.7004 | 8,240.7434 | 8,247.7928 | 8,254.8486 | 8,261.9109 | 8,268.9797 | 8,276.055 | 8,283.1367 | 8,290.2249 | 8,297.3196 | 8,304.4208 | 96,322.872 | 99,064.2205 |
| C20 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,382.07 | 7,422.08 | 7,422.08 | 7,462.1 | 7,462.1 | 7,462.1 | 7,502.11 | 7,502.11 | 7,508.422 | 7,514.7396 | 7,521.063 | 7,527.3921 | 6,102.0928 | 6,107.2285 | 6,112.3689 | 6,117.5139 | 6,122.6635 | 6,127.8178 | 6,132.9768 | 6,138.1405 | 6,143.3088 | 6,148.4819 | 6,153.6596 | 6,158.842 | 89,688.3667 | 73,565.0951 |
| C21 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,342.5963 | 4,342.5963 | 4,342.5963 | 4,342.5963 | 4,342.5963 | 4,342.5963 | 50,690.52 | 51,726.0978 |
| C22 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,715 | 5,752 | 5,752 | 5,752 | 5,796 | 5,796 | 5,833 | 5,833 | 5,840.0665 | 5,847.1423 | 5,942.0409 | 5,949.2419 | 5,956.4524 | 5,963.6724 | 5,970.902 | 5,978.1411 | 5,985.3898 | 5,992.6481 | 5,999.9159 | 6,007.1934 | 6,014.4805 | 6,021.7773 | 4,999.6478 | 5,005.7147 | 69,807.4917 | 69,895.9353 |
| C23 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 2,728 | 2,728 | 2,728 | 2,780 | 2,780 | 2,780 | 2,780 | 2,780 | 2,825.4393 | 2,829.1838 | 2,832.9335 | 2,836.6885 | 2,840.4488 | 2,844.2143 | 2,847.9851 | 2,851.7612 | 2,855.5426 | 2,859.3293 | 2,863.1213 | 2,866.9186 | 2,913.782 | 2,917.6471 | 2,921.5176 | 2,925.3935 | 33,408.245 | 34,507.6612 |
| C24 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,289 | 8,289 | 8,250 | 8,250 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 33,078 | 0 |
| C25 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,900 | 8,943 | 9,050 | 9,285.3 | 9,241.18 | 9,241.18 | 9,350.96 | 9,395.08 | 9,402.932 | 9,410.791 | 9,418.6572 | 9,426.5304 | 9,434.4108 | 9,442.2982 | 9,450.1928 | 7,751.9724 | 7,758.4546 | 7,764.9426 | 7,771.4364 | 7,777.9362 | 7,784.4417 | 7,790.9532 | 7,797.4705 | 7,803.9937 | 111,065.6106 | 98,328.5031 |
| C26 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,204 | 6,204 | 6,204 | 6,248 | 6,248 | 6,248 | 6,248 | 6,455.59 | 6,460.8944 | 6,466.2036 | 6,471.5174 | 6,476.8361 | 6,482.1594 | 6,487.4875 | 6,492.8204 | 6,498.158 | 6,503.5004 | 6,508.8475 | 6,514.1994 | 6,617.3494 | 6,622.7913 | 6,628.2381 | 6,633.6897 | 6,639.1461 | 75,935.0415 | 78,628.3872 |
| C27 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 4,442 | 4,557.49 | 4,605.71 | 4,605.71 | 4,653.94 | 4,653.94 | 4,653.94 | 4,702.16 | 4,708.3268 | 4,714.5021 | 4,720.6861 | 4,726.8787 | 4,733.0799 | 4,810.379 | 4,816.6908 | 4,823.0113 | 4,829.3407 | 4,835.6788 | 4,842.0258 | 4,848.3816 | 4,854.7463 | 4,861.1199 | 4,867.5023 | 4,873.8936 | 55,745.2837 | 57,995.8499 |
| C28 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,050 | 5,050 | 5,091 | 5,091 | 5,091 | 5,091 | 5,091 | 5,050 | 5,052.0825 | 5,129.9784 | 5,132.094 | 5,134.2106 | 5,136.3281 | 5,138.4466 | 5,140.566 | 5,142.6864 | 5,144.8077 | 5,146.9299 | 5,149.0531 | 5,151.1773 | 5,153.3024 | 5,232.7599 | 5,234.9188 | 5,237.0787 | 61,053.3656 | 62,008.0549 |
| C29 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,108 | 6,150 | 6,152.535 | 6,155.0711 | 6,157.6084 | 4,454.9412 | 4,456.7777 | 4,458.6151 | 4,460.4533 | 4,462.2923 | 4,464.1322 | 4,465.9728 | 4,467.8143 | 4,469.6566 | 4,471.4998 | 4,473.3437 | 4,475.1885 | 4,544.1896 | 72,078.1557 | 53,669.936 |
| C30 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 3,715 | 3,715 | 3,760 | 3,760 | 3,760 | 3,760 | 3,857.76 | 3,857.76 | 3,860.9816 | 3,864.2062 | 3,867.4336 | 3,870.664 | 3,873.8973 | 3,877.1334 | 3,880.3726 | 3,883.6146 | 3,886.8595 | 3,890.1074 | 3,191.045 | 3,193.7118 | 3,196.381 | 3,199.0527 | 3,201.7267 | 3,204.4031 | 45,648.8054 | 42,478.3051 |
| C31 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 5,256 | 5,256 | 5,300 | 5,300 | 5,300 | 5,362 | 5,370.926 | 5,379.8681 | 5,388.8262 | 5,397.8004 | 5,406.7908 | 5,415.7974 | 5,506.1925 | 5,515.3671 | 5,524.5582 | 5,533.7659 | 5,542.9901 | 5,552.2309 | 5,561.4884 | 5,570.7625 | 5,580.0534 | 5,589.361 | 53,311.4207 | 66,299.3583 |
| C32 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 4,236 | 4,236 | 4,282 | 4,282 | 4,289.364 | 4,296.7415 | 4,304.1326 | 4,311.5373 | 4,318.9555 | 4,326.3874 | 4,333.833 | 4,341.2922 | 4,413.9967 | 4,421.5957 | 4,429.2086 | 4,436.8356 | 4,444.4765 | 4,452.1316 | 4,459.8007 | 4,467.4839 | 34,237.7754 | 52,845.9973 |
| C33 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 6,408 | 6,449 | 6,457.1885 | 6,465.3882 | 6,473.599 | 6,481.8211 | 6,490.0543 | 6,498.2989 | 6,506.5546 | 6,514.8216 | 6,523.0999 | 6,531.3895 | 6,637.7858 | 6,646.2227 | 6,654.6711 | 6,663.1311 | 6,671.6026 | 6,680.0857 | 38,734.9968 | 79,017.718 |
| P01 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9,086 | 9,097.3505 | 9,108.7163 | 9,120.0975 | 9,131.494 | 9,142.9059 | 9,154.3332 | 9,165.7759 | 9,177.2341 | 9,188.7077 | 9,200.1969 | 9,211.7015 | 0 | 109,784.5135 |
| P02 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,232 | 2,234.808 | 2,237.6198 | 2,240.4354 | 2,243.2549 | 2,246.0781 | 2,248.9052 | 2,251.7361 | 2,254.5709 | 2,257.4095 | 0 | 22,446.818 |
| P03 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,156.25 | 2,158.0281 | 2,159.8078 | 2,161.5891 | 2,163.372 | 2,165.1565 | 2,166.9426 | 2,168.7303 | 2,170.5196 | 0 | 19,470.3962 |
| P04 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,617.5 | 1,618.8463 | 1,620.1937 | 1,621.5424 | 1,622.8923 | 1,624.2434 | 1,625.5957 | 0 | 11,350.8137 |
| MANAGED USERS | TOTALS | 3,781 | 3,794 | 3,882 | 3,893 | 3,815 | 3,824 | 3,938 | 3,951 | 3,955.4595 | 3,896.8619 | 3,883.5152 | 3,864.1546 | 4,016.0029 | 4,007.3521 | 3,834.0148 | 3,851.8936 | 3,845.3459 | 3,874.8561 | 3,870.9046 | 3,813.1489 | 3,817.6173 | 3,814.6687 | 3,805.2531 | 3,809.7117 | 3,864.1546 | 3,809.7117 | |
| MANAGED DEVICES | TOTALS | 1,174 | 1,174 | 1,204 | 1,206 | 1,189 | 1,190 | 1,223 | 1,225 | 1,225.693 | 1,208.3775 | 1,203.3026 | 1,194.982 | 1,238.2527 | 1,234.3024 | 1,198.8518 | 1,206.2266 | 1,204.1145 | 1,213.5698 | 1,211.2633 | 1,193.6217 | 1,194.3195 | 1,193.5676 | 1,187.0449 | 1,187.738 | 1,194.982 | 1,187.738 | |
| MANAGED SERVICE FEES (MRR) | TOTALS | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,266.7012 | 233,740.5615 | 232,773.8197 | 231,297.656 | 239,469.9345 | 238,805.1718 | 229,494.9436 | 230,424.6147 | 229,877.65 | 231,779.0408 | 231,605.405 | 228,246.7092 | 228,519.4262 | 228,419.1838 | 227,702.1096 | 227,998.2147 | 2,770,094.6485 | 2,772,342.4039 | |
| Annualised fees (MRR x 12) | TOTALS | 2,667,375.36 | 2,679,225.72 | 2,758,216.2 | 2,773,414.32 | 2,733,453.96 | 2,739,831.96 | 2,824,735.68 | 2,843,937.72 | 2,847,200.4143 | 2,804,886.7385 | 2,793,285.8364 | 2,775,571.8723 | 2,873,639.2145 | 2,865,662.0611 | 2,753,939.3231 | 2,765,095.3763 | 2,758,531.7999 | 2,781,348.4897 | 2,779,264.8604 | 2,738,960.5108 | 2,742,233.1142 | 2,741,030.2054 | 2,732,425.315 | 2,735,978.576 | 2,775,571.8723 | 2,735,978.576 | |
| Fees: customers in Portugal | TOTALS | 187,820.28 | 188,649.32 | 194,990.64 | 195,977.85 | 192,643.71 | 193,175.21 | 200,084.98 | 201,384.22 | 201,628.9489 | 197,999.8091 | 197,005.8229 | 197,207.5951 | 205,353.2814 | 204,590.8118 | 195,253.8478 | 197,862.8797 | 197,290.555 | 197,549.0617 | 198,050.9846 | 194,568.3025 | 194,814.7212 | 194,610.8242 | 193,867.3698 | 194,069.9142 | 2,348,568.386 | 2,367,882.554 | |
| Share of fees in Portugal | TOTALS | 84.5% | 84.49% | 84.83% | 84.8% | 84.57% | 84.61% | 85% | 84.97% | 84.98% | 84.71% | 84.63% | 85.26% | 85.75% | 85.67% | 85.08% | 85.87% | 85.82% | 85.23% | 85.51% | 85.24% | 85.25% | 85.2% | 85.14% | 85.12% | 84.78% | 85.41% | |
| Users: customers in Portugal | TOTALS | 3,251 | 3,263 | 3,347 | 3,357 | 3,279 | 3,288 | 3,402 | 3,412 | 3,415.9715 | 3,356.8854 | 3,343.0497 | 3,346.9971 | 3,498.3674 | 3,489.2379 | 3,315.4216 | 3,354.443 | 3,347.4368 | 3,351.4881 | 3,355.545 | 3,297.3129 | 3,301.3043 | 3,297.8783 | 3,287.9849 | 3,291.965 | 3,346.9971 | 3,291.965 | |
| Share of users in Portugal | TOTALS | 85.98% | 86% | 86.22% | 86.23% | 85.95% | 85.98% | 86.39% | 86.36% | 86.36% | 86.14% | 86.08% | 86.62% | 87.11% | 87.07% | 86.47% | 87.09% | 87.05% | 86.49% | 86.69% | 86.47% | 86.48% | 86.45% | 86.41% | 86.41% | 86.19% | 86.68% | |
| Fees per user a month (devices included) | TOTALS | 58.789 | 58.8479 | 59.2095 | 59.3675 | 59.7085 | 59.7069 | 59.7752 | 59.9835 | 59.9846 | 59.9817 | 59.9389 | 59.8572 | 59.6289 | 59.5918 | 59.8576 | 59.8211 | 59.7807 | 59.8162 | 59.8324 | 59.8578 | 59.8592 | 59.8792 | 59.8389 | 59.8466 | 59.5959 | 59.8009 | |
| Contracts billing (pipeline counted from the start month) | TOTALS | 30 | 30 | 31 | 31 | 31 | 31 | 32 | 32 | 32 | 32 | 32 | 32 | 33 | 33 | 34 | 35 | 35 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 32 | 36 | |
| Users of contracts starting in the month (expected for pipeline) | TOTALS | onboarding hours | 0 | 0 | 80 | 0 | 66 | 0 | 108 | 0 | 0 | 0 | 0 | 0 | 168 | 0 | 36 | 35 | 0 | 25 | 0 | 0 | 0 | 0 | 0 | 0 | 254 | 264 |
| First-year fees of contracts starting in the month (commission base) | TOTALS | fees x 12 | 0 | 0 | 63,072 | 0 | 50,832 | 0 | 76,896 | 0 | 0 | 0 | 0 | 0 | 109,032 | 0 | 26,784 | 25,875 | 0 | 19,410 | 0 | 0 | 0 | 0 | 0 | 0 | 190,800 | 181,101 |
| Fees reaching a 36-month renewal in the month (prior month fees) | TOTALS | 7,320 | 7,790 | 6,524 | 0 | 13,423 | 0 | 8,515 | 6,248 | 0 | 17,013.2395 | 6,752.6503 | 6,157.6084 | 7,527.3921 | 6,072.8997 | 23,211.5846 | 9,450.1928 | 5,413.7153 | 0 | 3,890.1074 | 22,528.5578 | 0 | 3,994.3957 | 6,021.7773 | 0 | 79,743.4982 | 88,110.6226 | |
| Fees lost at renewal (A: contracts not renewed; F: expected, fees x (1 - probability)) | TOTALS | 0 | 0 | 0 | 0 | 8,250 | 0 | 0 | 0 | 0 | 3,402.6479 | 1,080.424 | 1,539.4021 | 1,204.3827 | 910.935 | 11,605.7923 | 1,417.5289 | 757.9201 | 0 | 583.5161 | 3,116.0541 | 0 | 479.3275 | 843.0488 | 0 | 14,272.474 | 20,918.5056 | |
| Net revenue retention: fees now of contracts billing a year earlier / their fees then | TOTALS | History for 2025 | 104.72% | 104.78% | 104.77% | 104.81% | 100.76% | 100.78% | 100.77% | 100.92% | 100.93% | 98.88% | 98.05% | 97.17% | 96.35% | 95.61% | 90.19% | 89.16% | 92.12% | 92.01% | 91.94% | 89.9% | 89.9% | 91.21% | 91.27% | 91.97% | 97.17% | 91.97% |
| Gross revenue retention: as above, each contract capped at its fees a year earlier | TOTALS | History for 2025 | 100% | 100% | 100% | 100% | 96.08% | 96.15% | 96.16% | 96.18% | 96.25% | 94.59% | 94.06% | 93.29% | 92.73% | 92.33% | 87.43% | 86.79% | 89.87% | 89.83% | 89.83% | 88.35% | 88.36% | 89.57% | 89.65% | 90.3% | 93.29% | 90.3% |
| Onboarding fees billed | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | register: contracts starting in the month | 0 | 0 | 3,600 | 0 | 2,970 | 0 | 4,860 | 0 | 0 | 0 | 0 | 0 | 7,560 | 0 | 1,620 | 1,575 | 0 | 1,125 | 0 | 0 | 0 | 0 | 0 | 0 | 11,430 | 11,880 |
| of which customers in Portugal | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | 0 | 0 | 3,600 | 0 | 2,970 | 0 | 4,860 | 0 | 0 | 0 | 0 | 0 | 7,560 | 0 | 1,620 | 1,575 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11,430 | 10,755 | |
| Onboarding fees recognised | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | fee / 36 for each month of the term | 293.75 | 293.75 | 393.75 | 393.75 | 476.25 | 476.25 | 611.25 | 611.25 | 611.25 | 611.25 | 611.25 | 611.25 | 821.25 | 821.25 | 866.25 | 910 | 910 | 941.25 | 941.25 | 941.25 | 941.25 | 941.25 | 941.25 | 941.25 | 5,995 | 10,917.5 |
| CONTRACT LIABILITY: ONBOARDING FEES DEFERRED | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | opening + billed - recognised | 7,762.5 | 7,468.75 | 10,675 | 10,281.25 | 12,775 | 12,298.75 | 16,547.5 | 15,936.25 | 15,325 | 14,713.75 | 14,102.5 | 13,491.25 | 20,230 | 19,408.75 | 20,162.5 | 20,827.5 | 19,917.5 | 20,101.25 | 19,160 | 18,218.75 | 17,277.5 | 16,336.25 | 15,395 | 14,453.75 | 13,491.25 | 14,453.75 |
| Per contract schedule: fees x months of the term still to run / 36 | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | independent calculation | 7,762.5 | 7,468.75 | 10,675 | 10,281.25 | 12,775 | 12,298.75 | 16,547.5 | 15,936.25 | 15,325 | 14,713.75 | 14,102.5 | 13,491.25 | 20,230 | 19,408.75 | 20,162.5 | 20,827.5 | 19,917.5 | 20,101.25 | 19,160 | 18,218.75 | 17,277.5 | 16,336.25 | 15,395 | 14,453.75 | 13,491.25 | 14,453.75 |
| Check: roll-forward less schedule (must be zero) | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed users | VOLUME | Contracts | 3,781 | 3,794 | 3,882 | 3,893 | 3,815 | 3,824 | 3,938 | 3,951 | 3,955.4595 | 3,896.8619 | 3,883.5152 | 3,864.1546 | 4,016.0029 | 4,007.3521 | 3,834.0148 | 3,851.8936 | 3,845.3459 | 3,874.8561 | 3,870.9046 | 3,813.1489 | 3,817.6173 | 3,814.6687 | 3,805.2531 | 3,809.7117 | 3,864.1546 | 3,809.7117 |
| Managed devices | VOLUME | Contracts | 1,174 | 1,174 | 1,204 | 1,206 | 1,189 | 1,190 | 1,223 | 1,225 | 1,225.693 | 1,208.3775 | 1,203.3026 | 1,194.982 | 1,238.2527 | 1,234.3024 | 1,198.8518 | 1,206.2266 | 1,204.1145 | 1,213.5698 | 1,211.2633 | 1,193.6217 | 1,194.3195 | 1,193.5676 | 1,187.0449 | 1,187.738 | 1,194.982 | 1,187.738 |
| Tickets logged | VOLUME | A: PSA; F: (users x rate + devices x rate) x seasonality | 1,903 | 1,831 | 1,874 | 1,844 | 1,788 | 1,748 | 1,792 | 1,601 | 2,019.2337 | 1,934.2115 | 1,890.7069 | 1,716.5263 | 2,011.0576 | 1,930.7777 | 1,814.091 | 1,768.1682 | 1,783.3499 | 1,760.3966 | 1,740.11 | 1,587.9056 | 1,950.9483 | 1,895.3207 | 1,854.0041 | 1,693.8747 | 21,941.6784 | 21,790.0043 |
| Tickets per 100 users and devices | VOLUME | 38.4057 | 36.8559 | 36.8462 | 36.164 | 35.7314 | 34.8624 | 34.722 | 30.9312 | 38.9727 | 37.8868 | 37.1688 | 33.9292 | 38.2748 | 36.8353 | 36.0449 | 34.957 | 35.3176 | 34.5961 | 34.2395 | 31.7152 | 38.926 | 37.8441 | 37.1373 | 33.8948 | 36.0397 | 35.8152 | |
| Ticket hours: P1 | HOURS | tickets x share x hours per ticket | 199.815 | 192.255 | 196.77 | 193.62 | 187.74 | 183.54 | 188.16 | 168.105 | 212.0195 | 203.0922 | 198.5242 | 180.2353 | 211.1611 | 202.7317 | 190.4796 | 185.6577 | 187.2517 | 184.8416 | 182.7115 | 166.7301 | 204.8496 | 199.0087 | 194.6704 | 177.8568 | 2,303.8762 | 2,287.9504 |
| Ticket hours: P2 | HOURS | tickets x share x hours per ticket | 411.048 | 395.496 | 404.784 | 398.304 | 386.208 | 377.568 | 387.072 | 345.816 | 436.1545 | 417.7897 | 408.3927 | 370.7697 | 434.3885 | 417.048 | 391.8437 | 381.9243 | 385.2036 | 380.2457 | 375.8638 | 342.9876 | 421.4048 | 409.3893 | 400.4649 | 365.8769 | 4,739.4025 | 4,706.6409 |
| Ticket hours: P3 | HOURS | tickets x share x hours per ticket | 941.985 | 906.345 | 927.63 | 912.78 | 885.06 | 865.26 | 887.04 | 792.495 | 999.5207 | 957.4347 | 935.8999 | 849.6805 | 995.4735 | 955.7349 | 897.9751 | 875.2433 | 882.7582 | 871.3963 | 861.3544 | 786.0133 | 965.7194 | 938.1837 | 917.732 | 838.468 | 10,861.1308 | 10,786.0521 |
| Ticket hours: P4 | HOURS | tickets x share x hours per ticket | 256.905 | 247.185 | 252.99 | 248.94 | 241.38 | 235.98 | 241.92 | 216.135 | 272.5965 | 261.1186 | 255.2454 | 231.7311 | 271.4928 | 260.655 | 244.9023 | 238.7027 | 240.7522 | 237.6535 | 234.9148 | 214.3673 | 263.378 | 255.8683 | 250.2905 | 228.6731 | 2,962.1266 | 2,941.6506 |
| Ticket hours | HOURS | 1,809.753 | 1,741.281 | 1,782.174 | 1,753.644 | 1,700.388 | 1,662.348 | 1,704.192 | 1,522.551 | 1,920.2912 | 1,839.4351 | 1,798.0623 | 1,632.4166 | 1,912.5158 | 1,836.1695 | 1,725.2006 | 1,681.528 | 1,695.9657 | 1,674.1371 | 1,654.8446 | 1,510.0982 | 1,855.3518 | 1,802.45 | 1,763.1579 | 1,610.8748 | 20,866.5362 | 20,722.2941 | |
| Proactive hours (patching, monitoring, backups, endpoint management) | HOURS | counts x hours x (1 - deferred share x holiday share) | 2,025.1502 | 2,016.7206 | 2,066.5991 | 2,026.3174 | 2,026.4451 | 1,996.2929 | 1,996.6609 | 1,910.5902 | 2,070.5245 | 2,074.2511 | 2,077.2119 | 2,009.0218 | 2,141.2076 | 2,123.7273 | 2,051.9553 | 2,019.1237 | 2,048.8651 | 2,031.3274 | 1,972.3402 | 1,855.4901 | 2,010.8643 | 2,042.4582 | 2,044.3491 | 1,991.2274 | 24,295.7858 | 24,332.9357 |
| Onboarding hours (users of new contracts) | HOURS | new users x hours | 0 | 0 | 160 | 0 | 132 | 0 | 216 | 0 | 0 | 0 | 0 | 0 | 336 | 0 | 72 | 70 | 0 | 50 | 0 | 0 | 0 | 0 | 0 | 0 | 508 | 528 |
| DEMAND HOURS | HOURS | 3,834.9032 | 3,758.0016 | 4,008.7731 | 3,779.9614 | 3,858.8331 | 3,658.6409 | 3,916.8529 | 3,433.1412 | 3,990.8157 | 3,913.6863 | 3,875.2742 | 3,641.4384 | 4,389.7234 | 3,959.8968 | 3,849.1559 | 3,770.6517 | 3,744.8308 | 3,755.4646 | 3,627.1848 | 3,365.5884 | 3,866.2161 | 3,844.9081 | 3,807.5069 | 3,602.1022 | 45,670.322 | 45,583.2297 | |
| Service desk FTE (analysts, engineers, field technicians, NOC) | CAPACITY, UTILISATION AND SLA | People | 39 | 39 | 38 | 37 | 36 | 36 | 37 | 37 | 36.6547 | 38.5626 | 39.9616 | 39.8452 | 41.2433 | 41.1381 | 41.7831 | 42.4318 | 42.3237 | 42.9712 | 42.8671 | 42.7633 | 42.665 | 42.5668 | 42.4689 | 42.3712 | 39.8452 | 42.3712 |
| Capacity hours | CAPACITY, UTILISATION AND SLA | FTE x productive hours x (1 - holiday share) | 4,708.08 | 4,656.6 | 4,537.2 | 4,222.44 | 4,250.88 | 4,108.32 | 3,978.24 | 3,587.52 | 4,231.4147 | 4,604.3692 | 4,824.1691 | 4,547.1395 | 4,978.8906 | 4,911.8879 | 4,988.8963 | 4,842.3146 | 4,997.5843 | 4,903.8705 | 4,609.0742 | 4,146.3302 | 4,925.2453 | 5,082.4812 | 5,126.8452 | 4,835.3985 | 52,256.3726 | 58,348.8188 |
| UTILISATION | CAPACITY, UTILISATION AND SLA | demand / capacity | 81.45% | 80.7% | 88.35% | 89.52% | 90.78% | 89.05% | 98.46% | 95.7% | 94.31% | 85% | 80.33% | 80.08% | 88.17% | 80.62% | 77.15% | 77.87% | 74.93% | 76.58% | 78.7% | 81.17% | 78.5% | 75.65% | 74.27% | 74.49% | 87.4% | 78.12% |
| SLA attainment (share of tickets inside response and resolution times) | CAPACITY, UTILISATION AND SLA | A: PSA; F: maximum - slope x (utilisation - knee) | 97.34% | 98.03% | 93.18% | 91.81% | 91.22% | 92.65% | 86.39% | 88.4% | 89.2% | 95.25% | 98.29% | 98.45% | 93.19% | 98.1% | 98.5% | 98.5% | 98.5% | 98.5% | 98.5% | 97.74% | 98.5% | 98.5% | 98.5% | 98.5% | 93.35% | 97.96% |
| Share of fees in breach | CAPACITY, UTILISATION AND SLA | (target - attainment) / band, between 0 and 100% | 0% | 0% | 28.2% | 41.9% | 47.8% | 33.5% | 96.1% | 76% | 68.04% | 7.5% | 0% | 0% | 28.08% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 33.25% | 2.34% |
| SLA CREDITS FOR THE MONTH (revenue reduction) | CAPACITY, UTILISATION AND SLA | A: credit notes; F: fees x breach share x credit rate | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,071.9185 | 876.0721 | 0 | 0 | 3,362.5808 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46,601.0005 | 3,362.5808 |
| Credited on the next invoice (credits of the prior month) | CAPACITY, UTILISATION AND SLA | 0 | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,071.9185 | 876.0721 | 0 | 0 | 3,362.5808 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46,601.0005 | 3,362.5808 | |
| SLA CREDITS DUE TO CUSTOMERS (liability) | CAPACITY, UTILISATION AND SLA | opening + credits - credited | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,071.9185 | 876.0721 | 0 | 0 | 3,362.5808 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Check: liability equals the credits of the month (must be zero) | CAPACITY, UTILISATION AND SLA | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| SLA credits, % of managed service fees | CAPACITY, UTILISATION AND SLA | 0% | 0% | 1.41% | 2.09% | 2.39% | 1.67% | 4.81% | 3.8% | 3.4% | 0.37% | 0% | 0% | 1.4% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 1.68% | 0.12% | |
| Tickets per service desk FTE | PRODUCTIVITY | 48.7949 | 46.9487 | 49.3158 | 49.8378 | 49.6667 | 48.5556 | 48.4324 | 43.2703 | 55.088 | 50.1578 | 47.313 | 43.0798 | 48.7608 | 46.9341 | 43.4169 | 41.6708 | 42.1359 | 40.9669 | 40.5931 | 37.1324 | 45.7272 | 44.5258 | 43.6556 | 39.9771 | 48.3717 | 42.958 | |
| FTE needed to bring utilisation to the knee | PRODUCTIVITY | demand / (productive hours x (1 - holidays) x knee) | 39.7087 | 39.3426 | 41.9679 | 41.4034 | 40.8498 | 40.0745 | 45.5363 | 44.2598 | 43.2131 | 40.9724 | 40.1267 | 39.8861 | 45.4536 | 41.4562 | 40.2969 | 41.3014 | 39.6429 | 41.135 | 42.1687 | 43.3889 | 41.8639 | 40.2524 | 39.425 | 39.4552 | 41.4451 | 41.32 |
| FTE short (+) or spare (-) against the knee | PRODUCTIVITY | 0.7087 | 0.3426 | 3.9679 | 4.4034 | 4.8498 | 4.0745 | 8.5363 | 7.2598 | 6.5584 | 2.4099 | 0.165 | 0.0408 | 4.2103 | 0.3181 | -1.4862 | -1.1304 | -2.6808 | -1.8361 | -0.6984 | 0.6256 | -0.8011 | -2.3145 | -3.0439 | -2.916 | 3.6097 | -0.9794 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| J01 ERP infrastructure and cloud migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 160 | 175 | 170 | 160 | 160 | 165 | 150 | 100 | 294 | 294 | 294 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,122 | 0 | |
| J02 Clinic network and Wi-Fi refresh (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 170 | 230 | 220 | 160 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 780 | 0 | |
| J03 Server virtualisation (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 110 | 150 | 150 | 140 | 90 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 640 | 0 | |
| J04 Security hardening and SOC onboarding (TM) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 95 | 118 | 112 | 110 | 116 | 104 | 72 | 153 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 880 | 0 | |
| J05 Construction site connectivity (TM) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 132 | 140 | 146 | 138 | 142 | 144 | 136 | 96 | 151.5 | 151.5 | 151.5 | 151.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,680 | 0 | |
| J06 Onboarding and migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 120 | 160 | 130 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 410 | 0 | |
| J07 Productivity suite tenant migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 0 | 95 | 130 | 85 | 160 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 470 | 0 | |
| J08 Store network upgrade (signed Aug-26) (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 220 | 220 | 220 | 220 | 220 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 880 | 220 | |
| J09 Backup and disaster recovery (TM) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 78 | 82 | 80 | 79 | 81 | 83 | 80 | 58 | 84.75 | 84.75 | 84.75 | 84.75 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 960 | 0 | |
| J10 Onboarding and migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 95 | 225 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 450 | 0 | |
| J11 ERP hosting move (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 120 | 160 | 170 | 160 | 150 | 120 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 880 | 0 | |
| J12 Onboarding and migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 90 | 120 | 95 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 305 | 0 | |
| J01 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 148 | 148 | 148 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,424 | 0 | |
| J02 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J03 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J04 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J05 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J06 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J07 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J08 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J09 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J10 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J11 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J12 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J01 | OWN HOURS TO DATE | 335 | 510 | 680 | 840 | 1,000 | 1,165 | 1,315 | 1,415 | 1,709 | 2,003 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | 2,297 | |
| J02 | OWN HOURS TO DATE | 170 | 400 | 620 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | |
| J03 | OWN HOURS TO DATE | 0 | 0 | 110 | 260 | 410 | 550 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | |
| J04 | OWN HOURS TO DATE | 0 | 95 | 213 | 325 | 435 | 551 | 655 | 727 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | |
| J05 | OWN HOURS TO DATE | 132 | 272 | 418 | 556 | 698 | 842 | 978 | 1,074 | 1,225.5 | 1,377 | 1,528.5 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | |
| J06 | OWN HOURS TO DATE | 0 | 0 | 120 | 280 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | |
| J07 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 0 | 95 | 225 | 310 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | |
| J08 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 220 | 440 | 660 | 880 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 880 | 1,100 | |
| J09 | OWN HOURS TO DATE | 78 | 160 | 240 | 319 | 400 | 483 | 563 | 621 | 705.75 | 790.5 | 875.25 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | |
| J10 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 225 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | |
| J11 | OWN HOURS TO DATE | 120 | 280 | 450 | 610 | 760 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | |
| J12 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 90 | 210 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | |
| J01 | SUBCONTRACT HOURS TO DATE | 20 | 60 | 140 | 290 | 470 | 670 | 860 | 980 | 1,128 | 1,276 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | 1,424 | |
| J02 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J03 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J04 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J05 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J06 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J07 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J08 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J09 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J10 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J11 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J12 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J01 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 17.32% | 27.8% | 40% | 55.12% | 71.71% | 52.43% | 62.14% | 68.43% | 76.24% | 88.12% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J02 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 21.79% | 51.28% | 79.49% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J03 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 17.19% | 40.62% | 64.06% | 85.94% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J04 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 10.8% | 24.2% | 36.93% | 49.43% | 62.61% | 74.43% | 82.61% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J05 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 7.86% | 16.19% | 24.88% | 33.1% | 41.55% | 50.12% | 58.21% | 63.93% | 72.95% | 81.96% | 90.98% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J06 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 30% | 70% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J07 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 0% | 20.21% | 47.87% | 65.96% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J08 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 20% | 40% | 60% | 80% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 80% | 100% | |
| J09 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 8.13% | 16.67% | 25% | 33.23% | 41.67% | 50.31% | 58.65% | 64.69% | 73.52% | 82.34% | 91.17% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J10 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 0% | 0% | 28.89% | 50% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J11 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 13.64% | 31.82% | 51.14% | 69.32% | 86.36% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J12 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 30% | 70% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J01 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 13,873.18 | 16,570.73 | 19,268.29 | 23,892.68 | 26,204.88 | -30,460.42 | 15,348.57 | 9,931.43 | 12,346.7138 | 18,768.0731 | 18,768.0731 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 144,512.2 | 0 | |
| J02 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 13,948.72 | 18,871.79 | 18,051.28 | 13,128.21 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64,000 | 0 | |
| J03 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 8,937.5 | 12,187.5 | 12,187.5 | 11,375 | 7,312.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52,000 | 0 | |
| J04 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 10,404 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59,840 | 0 | |
| J05 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 9,090 | 9,090 | 9,090 | 9,090 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | |
| J06 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32,000 | 0 | |
| J07 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 0 | 7,680.85 | 10,510.64 | 6,872.34 | 12,936.17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38,000 | 0 | |
| J08 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 17,600 | 17,600 | 17,600 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70,400 | 17,600 | |
| J09 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 5,424 | 5,424 | 5,424 | 5,424 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,440 | 0 | |
| J10 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 0 | 0 | 10,400 | 7,600 | 18,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36,000 | 0 | |
| J11 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 9,818.18 | 13,090.91 | 13,909.09 | 13,090.91 | 12,272.73 | 9,818.18 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72,000 | 0 | |
| J12 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24,000 | 0 | |
| J01 | REVENUE TO DATE | 27,360.98 | 43,931.71 | 63,200 | 87,092.68 | 113,297.56 | 82,837.14 | 98,185.71 | 108,117.14 | 120,463.8538 | 139,231.9269 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | |
| J02 | REVENUE TO DATE | 13,948.72 | 32,820.51 | 50,871.79 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | |
| J03 | REVENUE TO DATE | 0 | 0 | 8,937.5 | 21,125 | 33,312.5 | 44,687.5 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | |
| J04 | REVENUE TO DATE | 0 | 6,460 | 14,484 | 22,100 | 29,580 | 37,468 | 44,540 | 49,436 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | |
| J05 | REVENUE TO DATE | 7,920 | 16,320 | 25,080 | 33,360 | 41,880 | 50,520 | 58,680 | 64,440 | 73,530 | 82,620 | 91,710 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | |
| J06 | REVENUE TO DATE | 0 | 0 | 9,600 | 22,400 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | |
| J07 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 0 | 7,680.85 | 18,191.49 | 25,063.83 | 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 | |
| J08 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 35,200 | 52,800 | 70,400 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 70,400 | 88,000 | |
| J09 | REVENUE TO DATE | 4,992 | 10,240 | 15,360 | 20,416 | 25,600 | 30,912 | 36,032 | 39,744 | 45,168 | 50,592 | 56,016 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | |
| J10 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 10,400 | 18,000 | 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 | |
| J11 | REVENUE TO DATE | 9,818.18 | 22,909.09 | 36,818.18 | 49,909.09 | 62,181.82 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | |
| J12 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 7,200 | 16,800 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | |
| J01 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 63,200 | 0 | 0 | 0 | 0 | 0 | 0 | 47,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 110,600 | 0 | |
| J02 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 19,200 | 25,600 | 0 | 19,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64,000 | 0 | |
| J03 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 15,600 | 0 | 20,800 | 0 | 15,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52,000 | 0 | |
| J04 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 10,404 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59,840 | 0 | |
| J05 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 9,090 | 9,090 | 9,090 | 9,090 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | |
| J06 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32,000 | 0 | |
| J07 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 0 | 11,400 | 0 | 15,200 | 11,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38,000 | 0 | |
| J08 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,400 | 0 | 35,200 | 0 | 26,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,600 | 26,400 | |
| J09 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 5,424 | 5,424 | 5,424 | 5,424 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,440 | 0 | |
| J10 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 0 | 0 | 10,800 | 14,400 | 10,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36,000 | 0 | |
| J11 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 21,600 | 0 | 28,800 | 0 | 0 | 21,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72,000 | 0 | |
| J12 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24,000 | 0 | |
| J01 | BILLED TO DATE | 47,400 | 47,400 | 47,400 | 110,600 | 110,600 | 110,600 | 110,600 | 110,600 | 110,600 | 110,600 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | |
| J02 | BILLED TO DATE | 19,200 | 44,800 | 44,800 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | |
| J03 | BILLED TO DATE | 0 | 0 | 15,600 | 15,600 | 36,400 | 36,400 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | |
| J04 | BILLED TO DATE | 0 | 6,460 | 14,484 | 22,100 | 29,580 | 37,468 | 44,540 | 49,436 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | |
| J05 | BILLED TO DATE | 7,920 | 16,320 | 25,080 | 33,360 | 41,880 | 50,520 | 58,680 | 64,440 | 73,530 | 82,620 | 91,710 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | |
| J06 | BILLED TO DATE | 0 | 0 | 9,600 | 22,400 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | |
| J07 | BILLED TO DATE | 0 | 0 | 0 | 0 | 0 | 11,400 | 11,400 | 26,600 | 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 | |
| J08 | BILLED TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,400 | 26,400 | 61,600 | 61,600 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 61,600 | 88,000 | |
| J09 | BILLED TO DATE | 4,992 | 10,240 | 15,360 | 20,416 | 25,600 | 30,912 | 36,032 | 39,744 | 45,168 | 50,592 | 56,016 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | |
| J10 | BILLED TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 10,800 | 25,200 | 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 | |
| J11 | BILLED TO DATE | 21,600 | 21,600 | 50,400 | 50,400 | 50,400 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | |
| J12 | BILLED TO DATE | 0 | 0 | 0 | 0 | 7,200 | 16,800 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | |
| J01 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 20,039.02 | 3,468.29 | -15,800 | 23,507.32 | -2,697.56 | 27,762.86 | 12,414.29 | 2,482.86 | -9,863.8538 | -28,631.9269 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J02 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 5,251.28 | 11,979.49 | -6,071.79 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J03 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 6,662.5 | -5,525 | 3,087.5 | -8,287.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J04 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J05 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J06 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J07 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 3,719.15 | -6,791.49 | 1,536.17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J08 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,800 | -8,800 | 8,800 | -8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8,800 | 0 | |
| J09 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J10 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 400 | 7,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J11 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 11,781.82 | -1,309.09 | 13,581.82 | 490.91 | -11,781.82 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J12 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J01 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 4,375.8538 | 2,187.9269 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J02 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J03 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J04 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J05 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J06 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J07 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J08 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J09 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J10 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J11 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J12 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Own hours | SIGNED PROJECTS: TOTALS | 660 | 882 | 1,134 | 1,119 | 1,013 | 983 | 915 | 506 | 1,288.25 | 750.25 | 750.25 | 456.25 | 220 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10,457 | 220 | |
| Subcontract hours | SIGNED PROJECTS: TOTALS | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 148 | 148 | 148 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,424 | 0 | |
| Revenue: signed projects | SIGNED PROJECTS: TOTALS | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 85,800.8838 | 50,882.0731 | 50,882.0731 | 32,114 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 754,992.2 | 17,600 | |
| Billing: signed projects | SIGNED PROJECTS: TOTALS | 53,712 | 45,708 | 75,904 | 116,152 | 58,784 | 64,440 | 53,952 | 43,968 | 73,518 | 14,514 | 97,114 | 14,514 | 26,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 712,280 | 26,400 | |
| Contract liabilities: projects billed ahead of progress | SIGNED PROJECTS: TOTALS | 37,072.12 | 15,447.78 | 20,244.32 | 23,998.23 | 3,087.5 | 31,482.01 | 12,814.29 | 11,219.03 | 8,800 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Contract assets: progress ahead of billing | SIGNED PROJECTS: TOTALS | 0 | 1,309.09 | 21,871.79 | 5,525 | 14,479.38 | 8,287.5 | 6,791.49 | 0 | 9,863.8538 | 37,431.9269 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,800 | 0 | |
| Check: change in net position equals billing less revenue (must be zero) | SIGNED PROJECTS: TOTALS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| PROVISION: ONEROUS PROJECTS | SIGNED PROJECTS: TOTALS | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 4,375.8538 | 2,187.9269 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Movement in the provision (charged to cost of revenue; released as the loss-making work is done) | SIGNED PROJECTS: TOTALS | 0 | 0 | 0 | 0 | 0 | 10,147.14 | -4,731.43 | -2,908.57 | 1,868.7138 | -2,187.9269 | -2,187.9269 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Signed backlog: revenue still to recognise on signed projects | SIGNED PROJECTS: TOTALS | fixed fee: fee - revenue to date; T&M: remaining hours x rate | 722,040.12 | 653,398.69 | 561,728.53 | 465,677.23 | 377,028.12 | 347,174.51 | 276,050.8 | 237,279.03 | 151,478.1462 | 100,596.0731 | 49,714 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 0 |
| Revenue | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | MAX(0, run-rate x seasonality - signed revenue) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24,517.9269 | 20,617.9269 | 36,136 | 44,150 | 64,350 | 68,900 | 66,300 | 63,050 | 71,500 | 60,450 | 39,000 | 68,250 | 75,400 | 71,500 | 68,250 | 81,271.8538 | 761,100 |
| Hours | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | revenue / realised rate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 360.5577 | 303.2048 | 531.4118 | 649.2647 | 946.3235 | 1,013.2353 | 975 | 927.2059 | 1,051.4706 | 888.9706 | 573.5294 | 1,003.6765 | 1,108.8235 | 1,051.4706 | 1,003.6765 | 1,195.1743 | 11,192.6471 |
| Own hours | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | hours x own share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 324.502 | 272.8843 | 478.2706 | 584.3382 | 851.6912 | 911.9118 | 877.5 | 834.4853 | 946.3235 | 800.0735 | 516.1765 | 903.3088 | 997.9412 | 946.3235 | 903.3088 | 1,075.6569 | 10,073.3824 |
| Subcontract hours | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36.0558 | 30.3205 | 53.1412 | 64.9265 | 94.6324 | 101.3235 | 97.5 | 92.7206 | 105.1471 | 88.8971 | 57.3529 | 100.3676 | 110.8824 | 105.1471 | 100.3676 | 119.5174 | 1,119.2647 | |
| Credit note on the disputed J11 milestone | THE DISPUTED J11 FINAL MILESTONE (credit note, if any, reduces revenue when agreed) | Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5,400 | 0 |
| PROJECT REVENUE | PROJECTS: TOTALS | signed + new + credit notes | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 85,800.8838 | 75,400 | 71,500 | 62,850 | 61,750 | 64,350 | 68,900 | 66,300 | 63,050 | 71,500 | 60,450 | 39,000 | 68,250 | 75,400 | 71,500 | 68,250 | 830,864.0538 | 778,700 |
| Project billing (ex VAT) | PROJECTS: TOTALS | signed + new | 53,712 | 45,708 | 75,904 | 116,152 | 58,784 | 64,440 | 53,952 | 43,968 | 73,518 | 39,031.9269 | 117,731.9269 | 50,650 | 70,550 | 64,350 | 68,900 | 66,300 | 63,050 | 71,500 | 60,450 | 39,000 | 68,250 | 75,400 | 71,500 | 68,250 | 793,551.8538 | 787,500 |
| of which customers in Portugal | PROJECTS: TOTALS | register country; new work at the Portugal share | 32,112 | 39,248 | 39,080 | 108,536 | 51,304 | 34,952 | 46,880 | 39,072 | 63,114 | 35,354.2379 | 114,639.2379 | 45,229.6 | 63,927.5 | 54,697.5 | 58,565 | 56,355 | 53,592.5 | 60,775 | 51,382.5 | 33,150 | 58,012.5 | 64,090 | 60,775 | 58,012.5 | 649,521.0757 | 673,335 |
| Own hours (signed and new) | PROJECTS: TOTALS | 660 | 882 | 1,134 | 1,119 | 1,013 | 983 | 915 | 506 | 1,288.25 | 1,074.752 | 1,023.1343 | 934.5206 | 804.3382 | 851.6912 | 911.9118 | 877.5 | 834.4853 | 946.3235 | 800.0735 | 516.1765 | 903.3088 | 997.9412 | 946.3235 | 903.3088 | 11,532.6569 | 10,293.3824 | |
| Subcontract hours (signed and new) | PROJECTS: TOTALS | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 148 | 184.0558 | 178.3205 | 53.1412 | 64.9265 | 94.6324 | 101.3235 | 97.5 | 92.7206 | 105.1471 | 88.8971 | 57.3529 | 100.3676 | 110.8824 | 105.1471 | 100.3676 | 1,543.5174 | 1,119.2647 | |
| Cabling and electrical subcontractors | PROJECTS: TOTALS | A: supplier invoices; F: monthly level x inflation | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 18,000 | 18,450 |
| SUBCONTRACTORS | PROJECTS: TOTALS | hours x rate + cabling | 3,140 | 4,780 | 8,060 | 13,800 | 16,260 | 17,900 | 17,080 | 11,340 | 13,636 | 16,592.5735 | 16,122.2794 | 5,857.5765 | 6,861.4706 | 9,297.3529 | 9,846.0294 | 9,532.5 | 9,140.5882 | 10,159.5588 | 8,827.0588 | 6,240.4412 | 9,767.6471 | 10,629.8529 | 10,159.5588 | 9,767.6471 | 144,568.4294 | 110,229.7059 |
| Project team FTE (project engineers and managers) | PROJECTS: TOTALS | People | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 12.9133 | 12.8272 | 12.8067 | 12.7859 | 13.5148 | 13.4887 | 13.4628 | 13.4406 | 13.4184 | 13.3963 | 13.3742 | 13.3521 | 13.3301 | 13.3081 | 13.2861 | 13.2642 | 12.7859 | 13.2642 |
| Project team utilisation (own hours / productive hours) | PROJECTS: TOTALS | 45.56% | 56.82% | 73.06% | 75.43% | 65.99% | 66.26% | 65.46% | 40.14% | 86.42% | 70.17% | 66.18% | 64.05% | 49.3% | 52.88% | 56.73% | 57.21% | 52.67% | 61.9% | 55.64% | 39.87% | 58.7% | 62.8% | 59% | 59.68% | 64.63% | 55.53% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HARDWARE REVENUE | A: ledger; F: run-rate x seasonality x demand factor | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 208,624 | 226,304 | 189,176 | 173,264 | 155,584 | 162,656 | 185,640 | 167,960 | 176,800 | 198,016 | 162,656 | 106,080 | 208,624 | 226,304 | 189,176 | 173,264 | 2,372,368 | 2,112,760 | |
| Cost of hardware sold before rebates | A: ledger; F: revenue x (1 - margin) | 161,634 | 171,587 | 195,328 | 175,473 | 184,652 | 208,012 | 170,912 | 105,633 | 184,632.24 | 200,279.04 | 167,420.76 | 153,338.64 | 137,691.84 | 143,950.56 | 164,291.4 | 148,644.6 | 156,468 | 175,244.16 | 143,950.56 | 93,880.8 | 184,632.24 | 200,279.04 | 167,420.76 | 153,338.64 | 2,078,901.68 | 1,869,792.6 | |
| Gross margin before rebates | 24,366 | 25,413 | 28,672 | 25,527 | 27,348 | 29,988 | 25,088 | 15,367 | 23,991.76 | 26,024.96 | 21,755.24 | 19,925.36 | 17,892.16 | 18,705.44 | 21,348.6 | 19,315.4 | 20,332 | 22,771.84 | 18,705.44 | 12,199.2 | 23,991.76 | 26,024.96 | 21,755.24 | 19,925.36 | 293,466.32 | 242,967.4 | ||
| Margin % before rebates | 13.1% | 12.9% | 12.8% | 12.7% | 12.9% | 12.6% | 12.8% | 12.7% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 11.5% | 12.37% | 11.5% | ||
| Distributor rebate accrued | Rebates | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 3,270.7697 | 3,068.4889 | 2,326.5277 | 2,166.8799 | 1,959.3831 | 2,306.1364 | 2,497.6835 | 2,157.2395 | 2,366.4523 | 2,795.427 | 0 | 0 | 0 | 3,068.4889 | 2,326.5277 | 2,166.8799 | 30,774.7863 | 21,644.2184 | |
| COST OF HARDWARE NET OF REBATES | 159,548.42 | 168,977.73 | 192,164.33 | 172,919.52 | 181,989.98 | 204,684.57 | 168,585.51 | 104,418.82 | 181,361.4703 | 197,210.5511 | 165,094.2323 | 151,171.7601 | 135,732.4569 | 141,644.4236 | 161,793.7165 | 146,487.3605 | 154,101.5477 | 172,448.733 | 143,950.56 | 93,880.8 | 184,632.24 | 197,210.5511 | 165,094.2323 | 151,171.7601 | 2,048,126.8937 | 1,848,148.3816 | ||
| Gross margin after rebates | 26,451.58 | 28,022.27 | 31,835.67 | 28,080.48 | 30,010.02 | 33,315.43 | 27,414.49 | 16,581.18 | 27,262.5297 | 29,093.4489 | 24,081.7677 | 22,092.2399 | 19,851.5431 | 21,011.5764 | 23,846.2835 | 21,472.6395 | 22,698.4523 | 25,567.267 | 18,705.44 | 12,199.2 | 23,991.76 | 29,093.4489 | 24,081.7677 | 22,092.2399 | 324,241.1063 | 264,611.6184 | ||
| Margin % after rebates | 14.22% | 14.22% | 14.21% | 13.97% | 14.16% | 14% | 13.99% | 13.7% | 13.07% | 12.86% | 12.73% | 12.75% | 12.76% | 12.92% | 12.85% | 12.78% | 12.84% | 12.91% | 11.5% | 11.5% | 11.5% | 12.86% | 12.73% | 12.75% | 13.67% | 12.52% | ||
| STOCK AT MONTH END | A: count; F: cost x days / days in month | 73,904.6 | 76,268.62 | 91,851.66 | 86,610.7 | 79,426.39 | 93,242.97 | 77,430.33 | 52,742.81 | 86,161.712 | 90,448.5987 | 78,129.688 | 69,249.7084 | 62,183.4116 | 71,975.28 | 74,196.1161 | 69,367.48 | 70,662.9677 | 81,780.608 | 65,009.9303 | 42,397.7806 | 86,161.712 | 90,448.5987 | 78,129.688 | 69,249.7084 | 69,249.7084 | 69,249.7084 | |
| Purchases | cost + closing stock - opening stock | 139,038.6 | 173,951.02 | 210,911.04 | 170,232.04 | 177,467.69 | 221,828.58 | 155,099.36 | 80,945.48 | 218,051.142 | 204,565.9267 | 155,101.8493 | 144,458.6604 | 130,625.5432 | 153,742.4284 | 166,512.2361 | 143,815.9639 | 157,763.4877 | 186,361.8003 | 127,179.8823 | 71,268.6503 | 228,396.1714 | 204,565.9267 | 155,101.8493 | 144,458.6604 | 2,051,651.3884 | 1,869,792.6 | |
| Revenue from customers in Spain (exempt intra-EU supply) | revenue x share | 22,320 | 23,640 | 26,880 | 24,120 | 25,440 | 28,560 | 23,520 | 14,520 | 25,034.88 | 27,156.48 | 22,701.12 | 20,791.68 | 18,670.08 | 19,518.72 | 22,276.8 | 20,155.2 | 21,216 | 23,761.92 | 19,518.72 | 12,729.6 | 25,034.88 | 27,156.48 | 22,701.12 | 20,791.68 | 284,684.16 | 253,531.2 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BUNDLED LICENCES (principal) | A: billing; F: users x cover x price | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 68,923.8818 | 67,902.8192 | 67,670.2516 | 67,332.8931 | 72,078.2168 | 71,922.9529 | 68,811.9392 | 69,132.8239 | 69,015.307 | 69,544.9484 | 69,474.0281 | 68,437.4427 | 68,517.6406 | 68,464.7196 | 68,295.732 | 68,375.753 | 810,121.7357 | 832,071.504 |
| Vendor cost | BUNDLED LICENCES (principal) | A: distributor invoices; F: users x cover x cost | 55,539.59 | 55,723.08 | 57,075.79 | 57,176.08 | 56,180.58 | 56,178.4 | 57,775.93 | 58,080.45 | 58,165.0319 | 57,303.3547 | 57,107.0904 | 56,822.3927 | 60,826.9829 | 60,695.9554 | 58,070.5633 | 58,341.3587 | 58,242.1859 | 58,689.1516 | 58,629.3018 | 57,754.5248 | 57,822.204 | 57,777.5438 | 57,634.9348 | 57,702.4647 | 683,127.7698 | 702,187.1717 |
| Billed to customers | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | A: billing; F: same month a year earlier x (1 + change) | 243,500 | 13,100 | 19,200 | 14,900 | 9,600 | 17,300 | 11,600 | 6,400 | 22,000 | 15,000 | 12,000 | 25,000 | 243,500 | 13,100 | 19,200 | 14,900 | 9,600 | 17,300 | 11,600 | 6,400 | 22,000 | 15,000 | 12,000 | 25,000 | 409,600 | 409,600 |
| REVENUE (billings of the last 12 months / 12) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | 33,625 | 33,716.6667 | 33,816.6667 | 33,891.6667 | 33,941.6667 | 34,050 | 34,100 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 407,808.3333 | 409,600 | |
| CONTRACT LIABILITY: ANNUAL LICENCES BILLED AHEAD | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | opening + billed - revenue | 294,875 | 274,258.3333 | 259,641.6667 | 240,650 | 216,308.3333 | 199,558.3333 | 177,058.3333 | 149,325 | 137,191.6667 | 118,058.3333 | 95,925 | 86,791.6667 | 296,158.3333 | 275,125 | 260,191.6667 | 240,958.3333 | 216,425 | 199,591.6667 | 177,058.3333 | 149,325 | 137,191.6667 | 118,058.3333 | 95,925 | 86,791.6667 | 86,791.6667 | 86,791.6667 |
| Per billing schedule: billings of the last 11 months x months still to run / 12 | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | independent calculation | 294,875 | 274,258.3333 | 259,641.6667 | 240,650 | 216,308.3333 | 199,558.3333 | 177,058.3333 | 149,325 | 137,191.6667 | 118,058.3333 | 95,925 | 86,791.6667 | 296,158.3333 | 275,125 | 260,191.6667 | 240,958.3333 | 216,425 | 199,591.6667 | 177,058.3333 | 149,325 | 137,191.6667 | 118,058.3333 | 95,925 | 86,791.6667 | 86,791.6667 | 86,791.6667 |
| Check: roll-forward less schedule (must be zero) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Vendor cost invoiced (prepaid for the year) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | billed x (1 - margin) | 185,060 | 9,956 | 14,592 | 11,324 | 7,296 | 13,148 | 8,816 | 4,864 | 16,720 | 11,400 | 9,120 | 19,000 | 185,060 | 9,956 | 14,592 | 11,324 | 7,296 | 13,148 | 8,816 | 4,864 | 16,720 | 11,400 | 9,120 | 19,000 | 311,296 | 311,296 |
| Vendor cost recognised | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | revenue x (1 - margin) | 25,555 | 25,624.6667 | 25,700.6667 | 25,757.6667 | 25,795.6667 | 25,878 | 25,916 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 25,941.3333 | 309,934.3333 | 311,296 |
| PREPAID ANNUAL LICENCE COSTS | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | opening + invoiced - recognised | 224,105 | 208,436.3333 | 197,327.6667 | 182,894 | 164,394.3333 | 151,664.3333 | 134,564.3333 | 113,487 | 104,265.6667 | 89,724.3333 | 72,903 | 65,961.6667 | 225,080.3333 | 209,095 | 197,745.6667 | 183,128.3333 | 164,483 | 151,689.6667 | 134,564.3333 | 113,487 | 104,265.6667 | 89,724.3333 | 72,903 | 65,961.6667 | 65,961.6667 | 65,961.6667 |
| Check: prepaid cost equals the contract liability x (1 - margin) (must be zero) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Gross billing to customers (memo: not revenue) | LICENCES RESOLD AS AGENT (net) | A: billing; F: run-rate x seasonality x factor | 49,000 | 54,000 | 66,000 | 57,000 | 58,000 | 61,000 | 55,000 | 38,000 | 51,932.45 | 55,329.9 | 59,212.7 | 64,066.2 | 39,798.7 | 42,710.8 | 52,417.8 | 45,137.55 | 46,593.6 | 49,505.7 | 44,652.2 | 31,062.4 | 51,932.45 | 55,329.9 | 59,212.7 | 64,066.2 | 668,541.25 | 582,420 |
| Due to the vendor (gross less commission) | LICENCES RESOLD AS AGENT (net) | 43,365 | 47,790 | 58,410 | 50,445 | 51,330 | 53,985 | 48,675 | 33,630 | 45,960.2182 | 48,966.9615 | 52,403.2395 | 56,698.587 | 35,221.8495 | 37,799.058 | 46,389.753 | 39,946.7317 | 41,235.336 | 43,812.5445 | 39,517.197 | 27,490.224 | 45,960.2182 | 48,966.9615 | 52,403.2395 | 56,698.587 | 591,659.0062 | 515,441.7 | |
| Commission | LICENCES RESOLD AS AGENT (net) | gross x commission rate | 5,635 | 6,210 | 7,590 | 6,555 | 6,670 | 7,015 | 6,325 | 4,370 | 5,972.2317 | 6,362.9385 | 6,809.4605 | 7,367.613 | 4,576.8505 | 4,911.742 | 6,028.047 | 5,190.8183 | 5,358.264 | 5,693.1555 | 5,135.003 | 3,572.176 | 5,972.2317 | 6,362.9385 | 6,809.4605 | 7,367.613 | 76,882.2437 | 66,978.3 |
| Vendor incentive on agent sales | LICENCES RESOLD AS AGENT (net) | Rebates | 1,300.95 | 1,433.7 | 1,752.3 | 1,513.35 | 1,539.9 | 1,619.55 | 1,460.25 | 1,008.9 | 1,378.8065 | 1,469.0088 | 1,572.0972 | 1,700.9576 | 1,056.6555 | 1,133.9717 | 1,391.6926 | 1,198.402 | 1,237.0601 | 1,314.3763 | 1,185.5159 | 824.7067 | 1,378.8065 | 1,469.0088 | 1,572.0972 | 1,700.9576 | 17,749.7702 | 15,463.251 |
| AGENT REVENUE (commission + incentive) | LICENCES RESOLD AS AGENT (net) | 6,935.95 | 7,643.7 | 9,342.3 | 8,068.35 | 8,209.9 | 8,634.55 | 7,785.25 | 5,378.9 | 7,351.0383 | 7,831.9473 | 8,381.5577 | 9,068.5706 | 5,633.506 | 6,045.7137 | 7,419.7396 | 6,389.2202 | 6,595.3241 | 7,007.5318 | 6,320.5189 | 4,396.8827 | 7,351.0383 | 7,831.9473 | 8,381.5577 | 9,068.5706 | 94,632.0139 | 82,441.551 | |
| Licence distributor invoices, ex VAT (bundled + annual + agent) | TOTALS | 283,964.59 | 113,469.08 | 130,077.79 | 118,945.08 | 114,806.58 | 123,311.4 | 115,266.93 | 96,574.45 | 120,845.2502 | 117,670.3162 | 118,630.3299 | 132,520.9797 | 281,108.8324 | 108,451.0134 | 119,052.3163 | 109,612.0904 | 106,773.5219 | 115,649.6961 | 106,962.4988 | 90,108.7488 | 120,502.4222 | 118,144.5053 | 119,158.1743 | 133,401.0517 | 1,586,082.776 | 1,528,924.8717 | |
| LICENCE COST NET OF VENDOR INCENTIVES (bundled + annual recognised - incentive on principal licences) | TOTALS | 73,876.6 | 79,377.3767 | 80,626.4267 | 80,878.7467 | 80,071.9467 | 79,976.61 | 81,694.17 | 82,133.4533 | 81,859.8143 | 81,183.5874 | 81,061.611 | 80,489.0543 | 79,391.7068 | 84,517.7301 | 81,832.0198 | 82,192.7313 | 82,217.3736 | 82,475.3704 | 82,547.276 | 81,817.3024 | 81,527.2712 | 81,643.5508 | 81,573.6201 | 81,342.7241 | 963,229.397 | 983,078.6765 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hardware purchases | HARDWARE DISTRIBUTOR REBATE | Hardware | 139,038.6 | 173,951.02 | 210,911.04 | 170,232.04 | 177,467.69 | 221,828.58 | 155,099.36 | 80,945.48 | 218,051.142 | 204,565.9267 | 155,101.8493 | 144,458.6604 | 130,625.5432 | 153,742.4284 | 166,512.2361 | 143,815.9639 | 157,763.4877 | 186,361.8003 | 127,179.8823 | 71,268.6503 | 228,396.1714 | 204,565.9267 | 155,101.8493 | 144,458.6604 | 2,051,651.3884 | 1,869,792.6 |
| Purchases in the quarter (actual and forecast months) | HARDWARE DISTRIBUTOR REBATE | 523,900.66 | 523,900.66 | 523,900.66 | 569,528.31 | 569,528.31 | 569,528.31 | 454,095.982 | 454,095.982 | 454,095.982 | 504,126.4364 | 504,126.4364 | 504,126.4364 | 450,880.2077 | 450,880.2077 | 450,880.2077 | 487,941.2519 | 487,941.2519 | 487,941.2519 | 426,844.704 | 426,844.704 | 426,844.704 | 504,126.4364 | 504,126.4364 | 504,126.4364 | |||
| Tier rate the quarter earns | HARDWARE DISTRIBUTOR REBATE | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 0% | 0% | 0% | 1.5% | 1.5% | 1.5% | |||
| Purchases in the quarter to date | HARDWARE DISTRIBUTOR REBATE | 139,038.6 | 312,989.62 | 523,900.66 | 170,232.04 | 347,699.73 | 569,528.31 | 155,099.36 | 236,044.84 | 454,095.982 | 204,565.9267 | 359,667.776 | 504,126.4364 | 130,625.5432 | 284,367.9716 | 450,880.2077 | 143,815.9639 | 301,579.4516 | 487,941.2519 | 127,179.8823 | 198,448.5326 | 426,844.704 | 204,565.9267 | 359,667.776 | 504,126.4364 | |||
| REBATE ACCRUED | HARDWARE DISTRIBUTOR REBATE | A: CFO estimate; F: rate x quarter to date - accrued earlier in the quarter | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 3,270.7697 | 3,068.4889 | 2,326.5277 | 2,166.8799 | 1,959.3831 | 2,306.1364 | 2,497.6835 | 2,157.2395 | 2,366.4523 | 2,795.427 | 0 | 0 | 0 | 3,068.4889 | 2,326.5277 | 2,166.8799 | 30,774.7863 | 21,644.2184 |
| Accrued in the quarter to date | HARDWARE DISTRIBUTOR REBATE | 2,085.58 | 4,694.85 | 7,858.52 | 2,553.48 | 5,215.5 | 8,542.93 | 2,326.49 | 3,540.67 | 6,811.4397 | 3,068.4889 | 5,395.0166 | 7,561.8965 | 1,959.3831 | 4,265.5196 | 6,763.2031 | 2,157.2395 | 4,523.6918 | 7,319.1188 | 0 | 0 | 0 | 3,068.4889 | 5,395.0166 | 7,561.8965 | |||
| Rebate received (end of the second month after the quarter) | HARDWARE DISTRIBUTOR REBATE | A: bank; F: accrual of the prior quarter | 0 | 19,612.92 | 0 | 0 | 7,858.52 | 0 | 0 | 8,542.93 | 0 | 0 | 6,811.4397 | 0 | 0 | 7,561.8965 | 0 | 0 | 6,763.2031 | 0 | 0 | 7,319.1188 | 0 | 0 | 0 | 0 | 42,825.8097 | 21,644.2184 |
| Incentive on principal licences (reduces licence cost) | LICENCE VENDOR INCENTIVES | A: vendor statement; F: rate x (bundled cost + annual cost invoiced) | 7,217.99 | 1,970.37 | 2,150.03 | 2,055 | 1,904.3 | 2,079.79 | 1,997.76 | 1,888.33 | 2,246.551 | 2,061.1006 | 1,986.8127 | 2,274.6718 | 7,376.6095 | 2,119.5587 | 2,179.8769 | 2,089.9608 | 1,966.1456 | 2,155.1145 | 2,023.3591 | 1,878.5557 | 2,236.2661 | 2,075.3263 | 2,002.648 | 2,301.0739 | 29,832.7061 | 30,404.4952 |
| of which on bundled licences (managed services) | LICENCE VENDOR INCENTIVES | by vendor cost | 1,666.1882 | 1,671.6904 | 1,712.2708 | 1,715.2804 | 1,685.4197 | 1,685.3504 | 1,733.2797 | 1,742.4103 | 1,744.951 | 1,719.1006 | 1,713.2127 | 1,704.6718 | 1,824.8095 | 1,820.8787 | 1,742.1169 | 1,750.2408 | 1,747.2656 | 1,760.6745 | 1,758.8791 | 1,732.6357 | 1,734.6661 | 1,733.3263 | 1,729.048 | 1,731.0739 | 20,493.8259 | 21,065.6152 |
| of which on annual licences (licence resale) | LICENCE VENDOR INCENTIVES | 5,551.8018 | 298.6796 | 437.7592 | 339.7196 | 218.8803 | 394.4396 | 264.4803 | 145.9197 | 501.6 | 342 | 273.6 | 570 | 5,551.8 | 298.68 | 437.76 | 339.72 | 218.88 | 394.44 | 264.48 | 145.92 | 501.6 | 342 | 273.6 | 570 | 9,338.8802 | 9,338.88 | |
| Incentive on licences resold as agent (agent revenue) | LICENCE VENDOR INCENTIVES | A: vendor statement; F: rate x amount due to the vendor | 1,300.95 | 1,433.7 | 1,752.3 | 1,513.35 | 1,539.9 | 1,619.55 | 1,460.25 | 1,008.9 | 1,378.8065 | 1,469.0088 | 1,572.0972 | 1,700.9576 | 1,056.6555 | 1,133.9717 | 1,391.6926 | 1,198.402 | 1,237.0601 | 1,314.3763 | 1,185.5159 | 824.7067 | 1,378.8065 | 1,469.0088 | 1,572.0972 | 1,700.9576 | 17,749.7702 | 15,463.251 |
| Incentives received (second month after the quarter) | LICENCE VENDOR INCENTIVES | A: bank; F: accruals of the prior quarter | 0 | 12,530.38 | 0 | 0 | 15,825.34 | 0 | 0 | 10,711.89 | 0 | 0 | 9,980.5975 | 0 | 0 | 11,064.6488 | 0 | 0 | 15,258.3649 | 0 | 0 | 9,961.0593 | 0 | 0 | 9,527.2101 | 0 | 49,048.2075 | 45,811.283 |
| Rebates and incentives accrued | RECEIVABLE | 10,604.52 | 6,013.34 | 7,066 | 6,121.83 | 6,106.22 | 7,026.77 | 5,784.5 | 4,111.41 | 6,896.1272 | 6,598.5984 | 5,885.4376 | 6,142.5093 | 10,392.6481 | 5,559.6668 | 6,069.253 | 5,445.6022 | 5,569.658 | 6,264.9179 | 3,208.875 | 2,703.2625 | 3,615.0727 | 6,612.8241 | 5,901.273 | 6,168.9115 | 78,357.2626 | 67,511.9646 | |
| Rebates and incentives received | RECEIVABLE | 0 | 32,143.3 | 0 | 0 | 23,683.86 | 0 | 0 | 19,254.82 | 0 | 0 | 16,792.0372 | 0 | 0 | 18,626.5453 | 0 | 0 | 22,021.568 | 0 | 0 | 17,280.178 | 0 | 0 | 9,527.2101 | 0 | 91,874.0172 | 67,455.5014 | |
| REBATES AND INCENTIVES RECEIVABLE | RECEIVABLE | opening + accrued - received | 42,747.82 | 16,617.86 | 23,683.86 | 29,805.69 | 12,228.05 | 19,254.82 | 25,039.32 | 9,895.91 | 16,792.0372 | 23,390.6356 | 12,484.036 | 18,626.5453 | 29,019.1934 | 15,952.3149 | 22,021.568 | 27,467.1702 | 11,015.2601 | 17,280.178 | 20,489.053 | 5,912.1374 | 9,527.2101 | 16,140.0342 | 12,514.097 | 18,683.0085 | 18,626.5453 | 18,683.0085 |
| Check: receivable equals the accruals of quarters not yet paid (must be zero) | RECEIVABLE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Hardware rebate earned, % of purchases | RECEIVABLE | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 0% | 0% | 0% | 1.5% | 1.5% | 1.5% | 1.5% | 1.16% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | REVENUE BY STREAM (IFRS 15) | Contracts | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,266.7012 | 233,740.5615 | 232,773.8197 | 231,297.656 | 239,469.9345 | 238,805.1718 | 229,494.9436 | 230,424.6147 | 229,877.65 | 231,779.0408 | 231,605.405 | 228,246.7092 | 228,519.4262 | 228,419.1838 | 227,702.1096 | 227,998.2147 | 2,770,094.6485 | 2,772,342.4039 |
| Managed services: SLA credits (variable consideration) | REVENUE BY STREAM (IFRS 15) | Service_Desk | 0 | 0 | -3,235.73 | -4,841.71 | -5,441.04 | -3,820.12 | -11,314.01 | -9,000.4 | -8,071.9185 | -876.0721 | 0 | 0 | -3,362.5808 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -46,601.0005 | -3,362.5808 |
| Managed services: onboarding fees recognised | REVENUE BY STREAM (IFRS 15) | Contracts | 293.75 | 293.75 | 393.75 | 393.75 | 476.25 | 476.25 | 611.25 | 611.25 | 611.25 | 611.25 | 611.25 | 611.25 | 821.25 | 821.25 | 866.25 | 910 | 910 | 941.25 | 941.25 | 941.25 | 941.25 | 941.25 | 941.25 | 941.25 | 5,995 | 10,917.5 |
| Licences bundled in managed contracts (principal) | REVENUE BY STREAM (IFRS 15) | Licences | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 68,923.8818 | 67,902.8192 | 67,670.2516 | 67,332.8931 | 72,078.2168 | 71,922.9529 | 68,811.9392 | 69,132.8239 | 69,015.307 | 69,544.9484 | 69,474.0281 | 68,437.4427 | 68,517.6406 | 68,464.7196 | 68,295.732 | 68,375.753 | 810,121.7357 | 832,071.504 |
| Annual security and backup licences (principal, over 12 months) | REVENUE BY STREAM (IFRS 15) | Licences | 33,625 | 33,716.6667 | 33,816.6667 | 33,891.6667 | 33,941.6667 | 34,050 | 34,100 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 34,133.3333 | 407,808.3333 | 409,600 |
| Licences resold as agent: commission and vendor incentive (net) | REVENUE BY STREAM (IFRS 15) | Licences | 6,935.95 | 7,643.7 | 9,342.3 | 8,068.35 | 8,209.9 | 8,634.55 | 7,785.25 | 5,378.9 | 7,351.0383 | 7,831.9473 | 8,381.5577 | 9,068.5706 | 5,633.506 | 6,045.7137 | 7,419.7396 | 6,389.2202 | 6,595.3241 | 7,007.5318 | 6,320.5189 | 4,396.8827 | 7,351.0383 | 7,831.9473 | 8,381.5577 | 9,068.5706 | 94,632.0139 | 82,441.551 |
| Hardware (principal) | REVENUE BY STREAM (IFRS 15) | Hardware | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 208,624 | 226,304 | 189,176 | 173,264 | 155,584 | 162,656 | 185,640 | 167,960 | 176,800 | 198,016 | 162,656 | 106,080 | 208,624 | 226,304 | 189,176 | 173,264 | 2,372,368 | 2,112,760 |
| Projects | REVENUE BY STREAM (IFRS 15) | Projects | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 85,800.8838 | 75,400 | 71,500 | 62,850 | 61,750 | 64,350 | 68,900 | 66,300 | 63,050 | 71,500 | 60,450 | 39,000 | 68,250 | 75,400 | 71,500 | 68,250 | 830,864.0538 | 778,700 |
| REVENUE | REVENUE BY STREAM (IFRS 15) | 565,487.86 | 596,889.5867 | 653,538.0567 | 633,432.8067 | 632,143.3767 | 602,238.1 | 602,404.58 | 496,657.4933 | 634,639.1699 | 645,047.8394 | 604,246.2123 | 578,557.7031 | 566,107.6599 | 578,734.4218 | 595,266.2057 | 575,249.9921 | 580,381.6144 | 612,922.1044 | 565,580.5354 | 481,235.618 | 616,336.6884 | 641,494.434 | 600,129.9826 | 582,031.1216 | 7,245,282.7847 | 6,995,470.3781 | |
| Managed services (fees, SLA credits, onboarding, bundled licences) | BY SERVICE LINE | 288,374.83 | 289,887.79 | 294,708.93 | 294,421.49 | 289,342.7 | 291,699.94 | 293,395.62 | 297,373.49 | 298,729.9145 | 301,378.5587 | 301,055.3213 | 299,241.7991 | 309,006.8205 | 311,549.3747 | 299,173.1328 | 300,467.4386 | 299,802.957 | 302,265.2392 | 302,020.6831 | 297,625.4019 | 297,978.3167 | 297,825.1534 | 296,939.0915 | 297,315.2176 | 3,539,610.3836 | 3,611,968.8271 | |
| Licence resale (annual and agent) | BY SERVICE LINE | 40,560.95 | 41,360.3667 | 43,158.9667 | 41,960.0167 | 42,151.5667 | 42,684.55 | 41,885.25 | 39,512.2333 | 41,484.3716 | 41,965.2807 | 42,514.891 | 43,201.9039 | 39,766.8393 | 40,179.0471 | 41,553.0729 | 40,522.5535 | 40,728.6574 | 41,140.8652 | 40,453.8522 | 38,530.2161 | 41,484.3716 | 41,965.2807 | 42,514.891 | 43,201.9039 | 502,440.3473 | 492,041.551 | |
| Hardware | BY SERVICE LINE | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 208,624 | 226,304 | 189,176 | 173,264 | 155,584 | 162,656 | 185,640 | 167,960 | 176,800 | 198,016 | 162,656 | 106,080 | 208,624 | 226,304 | 189,176 | 173,264 | 2,372,368 | 2,112,760 | |
| Projects | BY SERVICE LINE | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 85,800.8838 | 75,400 | 71,500 | 62,850 | 61,750 | 64,350 | 68,900 | 66,300 | 63,050 | 71,500 | 60,450 | 39,000 | 68,250 | 75,400 | 71,500 | 68,250 | 830,864.0538 | 778,700 | |
| Recurring revenue (managed services and annual licences) | BY SERVICE LINE | 321,999.83 | 323,604.4567 | 328,525.5967 | 328,313.1567 | 323,284.3667 | 325,749.94 | 327,495.62 | 331,506.8233 | 332,863.2478 | 335,511.892 | 335,188.6546 | 333,375.1325 | 343,140.1539 | 345,682.708 | 333,306.4661 | 334,600.7719 | 333,936.2903 | 336,398.5726 | 336,154.0165 | 331,758.7353 | 332,111.6501 | 331,958.4867 | 331,072.4249 | 331,448.5509 | 3,947,418.7169 | 4,021,568.8271 | |
| Recurring revenue, share of revenue | BY SERVICE LINE | 56.94% | 54.22% | 50.27% | 51.83% | 51.14% | 54.09% | 54.36% | 66.75% | 52.45% | 52.01% | 55.47% | 57.62% | 60.61% | 59.73% | 55.99% | 58.17% | 57.54% | 54.88% | 59.44% | 68.94% | 53.88% | 51.75% | 55.17% | 56.95% | 54.48% | 57.49% | |
| Revenue growth on the same month a year earlier | BY SERVICE LINE | History for 2025 | -10.12% | -8.75% | -8.11% | -7.22% | -8.64% | -20.6% | -10.55% | -9.12% | -17.02% | -19.86% | -19.21% | -20.13% | 0.11% | -3.04% | -8.92% | -9.19% | -8.19% | 1.77% | -6.11% | -3.11% | -2.88% | -0.55% | -0.68% | 0.6% | ||
| Managed services growth on the same month a year earlier | BY SERVICE LINE | History for 2025 | 12.48% | 10.28% | 9.31% | 8.71% | 6.47% | 5.42% | 5.69% | 7.42% | 5.75% | 6.27% | 5.8% | 4.94% | 7.15% | 7.47% | 1.51% | 2.05% | 3.62% | 3.62% | 2.94% | 0.08% | -0.25% | -1.18% | -1.37% | -0.64% | ||
| Gross billing of licences resold as agent (memo: not revenue) | BY SERVICE LINE | Licences | 49,000 | 54,000 | 66,000 | 57,000 | 58,000 | 61,000 | 55,000 | 38,000 | 51,932.45 | 55,329.9 | 59,212.7 | 64,066.2 | 39,798.7 | 42,710.8 | 52,417.8 | 45,137.55 | 46,593.6 | 49,505.7 | 44,652.2 | 31,062.4 | 51,932.45 | 55,329.9 | 59,212.7 | 64,066.2 | 668,541.25 | 582,420 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Service desk analysts | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 12.8787 | 13.5085 | 14.2234 | 14.1808 | 14.893 | 14.8536 | 15.5642 | 15.5232 | 15.4823 | 15.4467 | 15.4112 | 15.3757 | 15.3404 | 15.3051 | 15.2698 | 15.2347 | 14.1808 | 15.2347 |
| Support engineers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 12 | 12 | 12 | 11 | 10 | 10 | 10 | 10 | 9.9067 | 11.3142 | 11.2786 | 11.2427 | 11.217 | 11.1912 | 11.1655 | 11.1398 | 11.1141 | 11.8386 | 11.806 | 11.7737 | 11.7466 | 11.7196 | 11.6927 | 11.6658 | 11.2427 | 11.6658 |
| Systems engineers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 6 | 6 | 6 | 6 | 6 | 5 | 5 | 5 | 4.9533 | 4.9071 | 5.6463 | 5.6283 | 5.6101 | 5.5973 | 5.5844 | 5.5716 | 5.5587 | 5.546 | 5.5332 | 5.5205 | 5.5078 | 5.4951 | 5.4824 | 5.4698 | 5.6283 | 5.4698 |
| Field technicians | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 6 | 6 | 5 | 5 | 5 | 6 | 6 | 6 | 5.944 | 5.8885 | 5.8756 | 5.8623 | 5.8488 | 5.8354 | 5.8219 | 6.5586 | 6.5382 | 6.5179 | 6.503 | 6.4881 | 6.4731 | 6.4582 | 6.4434 | 6.4286 | 5.8623 | 6.4286 |
| NOC and security analysts | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.972 | 2.9443 | 2.9378 | 2.9312 | 3.6744 | 3.6607 | 3.647 | 3.6387 | 3.6304 | 3.622 | 3.6137 | 3.6054 | 3.5971 | 3.5888 | 3.5806 | 3.5723 | 2.9312 | 3.5723 |
| Service delivery managers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.9813 | 1.9628 | 1.9585 | 1.9541 | 1.9496 | 1.9451 | 1.9406 | 1.9362 | 1.9317 | 1.9273 | 1.9228 | 1.9184 | 1.914 | 1.9096 | 1.9052 | 1.9008 | 1.9541 | 1.9008 |
| Project engineers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 10.9267 | 10.8538 | 10.8365 | 10.8189 | 11.551 | 11.5282 | 11.5054 | 11.4865 | 11.4675 | 11.4486 | 11.4297 | 11.4109 | 11.392 | 11.3732 | 11.3545 | 11.3357 | 10.8189 | 11.3357 |
| Project managers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.9867 | 1.9734 | 1.9703 | 1.9671 | 1.9638 | 1.9606 | 1.9573 | 1.9541 | 1.9509 | 1.9477 | 1.9445 | 1.9412 | 1.938 | 1.9348 | 1.9317 | 1.9285 | 1.9671 | 1.9285 |
| Sales director | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.99 | 0.9801 | 0.9778 | 0.9754 | 0.973 | 0.9706 | 0.9683 | 0.9659 | 0.9635 | 0.9611 | 0.9588 | 0.9564 | 0.954 | 0.9517 | 0.9493 | 0.947 | 0.9754 | 0.947 |
| Account managers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 3.96 | 3.9204 | 3.9112 | 3.9018 | 4.6422 | 4.6251 | 4.6081 | 4.5968 | 4.5855 | 4.5743 | 4.563 | 4.5517 | 4.5405 | 4.5294 | 4.5182 | 4.5071 | 3.9018 | 4.5071 |
| Presales engineer | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.99 | 0.9801 | 0.9778 | 0.9754 | 0.973 | 0.9706 | 0.9683 | 0.9659 | 0.9635 | 0.9611 | 0.9588 | 0.9564 | 0.954 | 0.9517 | 0.9493 | 0.947 | 0.9754 | 0.947 |
| Marketing | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.99 | 0.9801 | 0.9778 | 0.9754 | 0.973 | 0.9706 | 0.9683 | 0.9659 | 0.9635 | 0.9611 | 0.9588 | 0.9564 | 0.954 | 0.9517 | 0.9493 | 0.947 | 0.9754 | 0.947 |
| Directors (CEO and CTO, founders) | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.992 | 1.984 | 1.9821 | 1.9801 | 1.9782 | 1.9762 | 1.9742 | 1.9723 | 1.9703 | 1.9684 | 1.9664 | 1.9645 | 1.9625 | 1.9605 | 1.9586 | 1.9567 | 1.9801 | 1.9567 |
| Finance | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.988 | 2.976 | 2.9731 | 2.9702 | 2.9673 | 2.9643 | 2.9614 | 2.9584 | 2.9555 | 2.9525 | 2.9496 | 2.9467 | 2.9437 | 2.9408 | 2.9379 | 2.935 | 2.9702 | 2.935 |
| People and HR | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.996 | 0.992 | 0.991 | 0.9901 | 0.9891 | 0.9881 | 0.9871 | 0.9861 | 0.9852 | 0.9842 | 0.9832 | 0.9822 | 0.9812 | 0.9803 | 0.9793 | 0.9783 | 0.9901 | 0.9783 |
| Procurement and logistics | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.992 | 1.984 | 1.9821 | 1.9801 | 1.9782 | 1.9762 | 1.9742 | 1.9723 | 1.9703 | 1.9684 | 1.9664 | 1.9645 | 1.9625 | 1.9605 | 1.9586 | 1.9567 | 1.9801 | 1.9567 |
| Office administration | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.996 | 0.992 | 0.991 | 0.9901 | 0.9891 | 0.9881 | 0.9871 | 0.9861 | 0.9852 | 0.9842 | 0.9832 | 0.9822 | 0.9812 | 0.9803 | 0.9793 | 0.9783 | 0.9901 | 0.9783 |
| TOTAL HEADCOUNT | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | 68 | 69 | 69 | 68 | 67 | 67 | 68 | 68 | 67.4433 | 69.1415 | 70.4909 | 70.324 | 73.1708 | 73.0019 | 73.5834 | 74.1782 | 74.0163 | 74.61 | 74.4522 | 74.2948 | 74.1429 | 73.9914 | 73.8401 | 73.6892 | 70.324 | 73.6892 | |
| Service desk FTE (analysts, support and systems engineers, field technicians, NOC) | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | 39 | 39 | 38 | 37 | 36 | 36 | 37 | 37 | 36.6547 | 38.5626 | 39.9616 | 39.8452 | 41.2433 | 41.1381 | 41.7831 | 42.4318 | 42.3237 | 42.9712 | 42.8671 | 42.7633 | 42.665 | 42.5668 | 42.4689 | 42.3712 | 39.8452 | 42.3712 | |
| Project team FTE (project engineers and managers) | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 12.9133 | 12.8272 | 12.8067 | 12.7859 | 13.5148 | 13.4887 | 13.4628 | 13.4406 | 13.4184 | 13.3963 | 13.3742 | 13.3521 | 13.3301 | 13.3081 | 13.2861 | 13.2642 | 12.7859 | 13.2642 | |
| Service desk analysts | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1213 | 0.1202 | 0.1261 | 0.1328 | 0.1324 | 0.139 | 0.1386 | 0.1453 | 0.1449 | 0.1445 | 0.1442 | 0.1438 | 0.1435 | 0.1432 | 0.1428 | 0.1425 | 0.5004 | 1.7047 |
| Support engineers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0933 | 0.0925 | 0.1056 | 0.1053 | 0.1049 | 0.1047 | 0.1045 | 0.1042 | 0.104 | 0.1037 | 0.1105 | 0.1102 | 0.1099 | 0.1096 | 0.1094 | 0.1091 | 0.3967 | 1.2847 |
| Systems engineers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0467 | 0.0462 | 0.0458 | 0.0527 | 0.0525 | 0.0524 | 0.0522 | 0.0521 | 0.052 | 0.0519 | 0.0518 | 0.0516 | 0.0515 | 0.0514 | 0.0513 | 0.0512 | 0.1914 | 0.6219 |
| Field technicians | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.056 | 0.0555 | 0.055 | 0.0548 | 0.0547 | 0.0546 | 0.0545 | 0.0543 | 0.0612 | 0.061 | 0.0608 | 0.0607 | 0.0606 | 0.0604 | 0.0603 | 0.0601 | 0.2213 | 0.7033 |
| NOC and security analysts | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.028 | 0.0277 | 0.0275 | 0.0274 | 0.0274 | 0.0343 | 0.0342 | 0.034 | 0.034 | 0.0339 | 0.0338 | 0.0337 | 0.0337 | 0.0336 | 0.0335 | 0.0334 | 0.1106 | 0.3994 |
| Service delivery managers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0187 | 0.0185 | 0.0183 | 0.0183 | 0.0182 | 0.0182 | 0.0182 | 0.0181 | 0.0181 | 0.018 | 0.018 | 0.0179 | 0.0179 | 0.0179 | 0.0178 | 0.0178 | 0.0738 | 0.2161 |
| Project engineers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0733 | 0.0728 | 0.0724 | 0.0722 | 0.0721 | 0.077 | 0.0769 | 0.0767 | 0.0766 | 0.0765 | 0.0763 | 0.0762 | 0.0761 | 0.0759 | 0.0758 | 0.0757 | 0.2908 | 0.9118 |
| Project managers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0133 | 0.0132 | 0.0132 | 0.0131 | 0.0131 | 0.0131 | 0.0131 | 0.013 | 0.013 | 0.013 | 0.013 | 0.013 | 0.0129 | 0.0129 | 0.0129 | 0.0129 | 0.0529 | 0.1559 |
| Sales director | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.0099 | 0.0098 | 0.0098 | 0.0098 | 0.0097 | 0.0097 | 0.0097 | 0.0097 | 0.0096 | 0.0096 | 0.0096 | 0.0096 | 0.0095 | 0.0095 | 0.0095 | 0.0395 | 0.1155 |
| Account managers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.04 | 0.0396 | 0.0392 | 0.0391 | 0.039 | 0.0464 | 0.0463 | 0.0461 | 0.046 | 0.0459 | 0.0457 | 0.0456 | 0.0455 | 0.0454 | 0.0453 | 0.0452 | 0.1579 | 0.5424 |
| Presales engineer | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.0099 | 0.0098 | 0.0098 | 0.0098 | 0.0097 | 0.0097 | 0.0097 | 0.0097 | 0.0096 | 0.0096 | 0.0096 | 0.0096 | 0.0095 | 0.0095 | 0.0095 | 0.0395 | 0.1155 |
| Marketing | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.0099 | 0.0098 | 0.0098 | 0.0098 | 0.0097 | 0.0097 | 0.0097 | 0.0097 | 0.0096 | 0.0096 | 0.0096 | 0.0096 | 0.0095 | 0.0095 | 0.0095 | 0.0395 | 0.1155 |
| Directors (CEO and CTO, founders) | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.008 | 0.008 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0078 | 0.0078 | 0.0078 | 0.0318 | 0.0945 |
| Finance | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.012 | 0.012 | 0.0119 | 0.0119 | 0.0119 | 0.0119 | 0.0119 | 0.0118 | 0.0118 | 0.0118 | 0.0118 | 0.0118 | 0.0118 | 0.0118 | 0.0118 | 0.0118 | 0.0477 | 0.1418 |
| People and HR | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.004 | 0.004 | 0.004 | 0.004 | 0.004 | 0.004 | 0.004 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0159 | 0.0473 |
| Procurement and logistics | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.008 | 0.008 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0079 | 0.0078 | 0.0078 | 0.0078 | 0.0318 | 0.0945 |
| Office administration | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.004 | 0.004 | 0.004 | 0.004 | 0.004 | 0.004 | 0.004 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0039 | 0.0159 | 0.0473 |
| Hires in the month (A: from the payroll; F: planned and replacements) | LEAVERS (forecast; fractional FTE) | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 0 | 2.25 | 1.9175 | 0.4139 | 3.4261 | 0.4356 | 1.1845 | 1.2033 | 0.4522 | 1.2064 | 0.4606 | 0.4595 | 0.4638 | 0.4627 | 0.4617 | 0.4607 | 8.5814 | 10.6771 | |
| Planned hires in the month (hiring plan x scenario factor) | LEAVERS (forecast; fractional FTE) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.25 | 1.5 | 0 | 3 | 0 | 0.75 | 0.75 | 0 | 0.75 | 0 | 0 | 0 | 0 | 0 | 0 | 3.75 | 5.25 | |
| Leavers in the month (A: from the payroll; F: attrition) | LEAVERS (forecast; fractional FTE) | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0.5567 | 0.5518 | 0.5681 | 0.5808 | 0.5793 | 0.6045 | 0.603 | 0.6085 | 0.6142 | 0.6127 | 0.6184 | 0.617 | 0.6156 | 0.6143 | 0.613 | 0.6116 | 6.2573 | 7.312 | |
| L1: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 14,400 | 14,400 | 14,400 | 14,400 | 14,400 | 14,400 | 15,600 | 15,600 | 15,454.4 | 16,210.1589 | 17,068.0641 | 17,016.943 | 18,229.0211 | 18,180.7495 | 19,050.5635 | 19,000.3614 | 18,950.2899 | 18,906.7745 | 18,863.3138 | 18,819.9082 | 18,776.6032 | 18,733.3981 | 18,690.2924 | 18,647.2859 | 183,349.566 | 224,848.5616 |
| L2: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 19,800 | 19,800 | 19,800 | 18,150 | 16,500 | 16,500 | 16,500 | 16,500 | 16,346 | 18,668.4373 | 18,609.6986 | 18,550.4301 | 18,878.1312 | 18,834.8086 | 18,791.4671 | 18,748.227 | 18,705.0872 | 19,924.2967 | 19,869.5741 | 19,815.0604 | 19,769.5899 | 19,724.1607 | 19,678.774 | 19,633.4926 | 215,724.566 | 232,372.6695 |
| L3: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 14,100 | 14,100 | 14,100 | 14,100 | 14,100 | 11,750 | 11,750 | 11,750 | 11,640.3333 | 11,531.6902 | 13,268.8111 | 13,226.4512 | 13,447.4007 | 13,416.6309 | 13,385.8459 | 13,355.0431 | 13,324.3125 | 13,293.6532 | 13,263.0644 | 13,232.546 | 13,202.0978 | 13,171.7196 | 13,141.4114 | 13,111.1729 | 155,417.2859 | 159,344.8983 |
| FLD: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 7,800 | 7,800 | 6,500 | 6,500 | 6,500 | 7,800 | 7,800 | 7,800 | 7,727.2 | 7,655.0795 | 7,638.2321 | 7,621.0323 | 7,755.558 | 7,737.7097 | 7,719.9053 | 8,696.6418 | 8,669.6371 | 8,642.7598 | 8,622.9705 | 8,603.1769 | 8,583.3799 | 8,563.6292 | 8,543.9242 | 8,524.2646 | 89,141.5438 | 100,663.5569 |
| NOC: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,201 | 5,152.4573 | 5,141.1177 | 5,129.541 | 6,558.8371 | 6,534.3289 | 6,509.9667 | 6,495.1189 | 6,480.2381 | 6,465.3256 | 6,450.4484 | 6,435.6059 | 6,420.7975 | 6,406.0232 | 6,391.2829 | 6,376.5765 | 62,624.116 | 77,524.5498 |
| SDM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,250.5333 | 5,201.5284 | 5,190.0808 | 5,178.3937 | 5,269.8022 | 5,257.6746 | 5,245.5767 | 5,233.5066 | 5,221.4642 | 5,209.4496 | 5,197.4626 | 5,185.5032 | 5,173.5713 | 5,161.6669 | 5,149.7899 | 5,137.9402 | 63,220.5362 | 62,443.408 |
| PEN: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 21,500 | 23,650 | 23,650 | 23,650 | 23,650 | 23,650 | 23,650 | 23,650 | 23,492.3333 | 23,335.7178 | 23,298.3963 | 23,260.5354 | 25,331.3366 | 25,281.2828 | 25,231.3697 | 25,189.8172 | 25,148.2915 | 25,106.7931 | 25,065.3636 | 25,024.0026 | 24,982.7099 | 24,941.4853 | 24,900.3287 | 24,859.2401 | 280,436.9828 | 301,062.021 |
| PM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,662 | 5,624.2533 | 5,615.2583 | 5,606.1333 | 5,708.8179 | 5,699.3969 | 5,689.9922 | 5,680.603 | 5,671.2293 | 5,661.8711 | 5,652.5283 | 5,643.2009 | 5,633.889 | 5,624.5923 | 5,615.3111 | 5,606.0451 | 68,107.6449 | 67,887.4773 |
| SD: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,564 | 3,528.36 | 3,520.0764 | 3,511.6056 | 3,573.0113 | 3,564.2098 | 3,555.4315 | 3,546.6748 | 3,537.9396 | 3,529.2259 | 3,520.5337 | 3,511.8629 | 3,503.2135 | 3,494.5854 | 3,485.9785 | 3,477.3928 | 42,924.042 | 42,300.0596 |
| AM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 6,000 | 6,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 7,920 | 7,840.8 | 7,822.392 | 7,803.5681 | 9,470.0252 | 9,435.1662 | 9,400.5118 | 9,377.5319 | 9,354.5203 | 9,331.479 | 9,308.4957 | 9,285.5696 | 9,262.7 | 9,239.8867 | 9,217.1296 | 9,194.4286 | 91,386.7601 | 111,877.4448 |
| PSE: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,574 | 2,548.26 | 2,542.2774 | 2,536.1596 | 2,580.5082 | 2,574.1515 | 2,567.8116 | 2,561.4873 | 2,555.1786 | 2,548.8854 | 2,542.6077 | 2,536.3454 | 2,530.0986 | 2,523.8672 | 2,517.6511 | 2,511.4504 | 31,000.697 | 30,550.0431 |
| MKT: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,782 | 1,764.18 | 1,760.0382 | 1,755.8028 | 1,786.5057 | 1,782.1049 | 1,777.7157 | 1,773.3374 | 1,768.9698 | 1,764.613 | 1,760.2669 | 1,755.9315 | 1,751.6067 | 1,747.2927 | 1,742.9892 | 1,738.6964 | 21,462.021 | 21,150.0298 |
| DIR: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 9,960 | 9,920.16 | 9,910.4794 | 9,900.7174 | 10,088.6926 | 10,078.6639 | 10,068.6454 | 10,058.6369 | 10,048.6383 | 10,038.6497 | 10,028.671 | 10,018.7023 | 10,008.7434 | 9,998.7944 | 9,988.8554 | 9,978.9262 | 119,691.3568 | 120,404.6194 |
| FIN: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 5,976 | 5,952.096 | 5,946.2876 | 5,940.4305 | 6,053.2155 | 6,047.1983 | 6,041.1872 | 6,035.1821 | 6,029.183 | 6,023.1898 | 6,017.2026 | 6,011.2214 | 6,005.246 | 5,999.2767 | 5,993.3132 | 5,987.3557 | 71,814.8141 | 72,242.7716 |
| HR: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,693.2 | 1,686.4272 | 1,684.7815 | 1,683.122 | 1,715.0777 | 1,713.3729 | 1,711.6697 | 1,709.9683 | 1,708.2685 | 1,706.5705 | 1,704.8741 | 1,703.1794 | 1,701.4864 | 1,699.7951 | 1,698.1054 | 1,696.4174 | 20,347.5307 | 20,468.7853 |
| PRC: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,589.6 | 2,579.2416 | 2,576.7246 | 2,574.1865 | 2,623.0601 | 2,620.4526 | 2,617.8478 | 2,615.2456 | 2,612.646 | 2,610.0489 | 2,607.4545 | 2,604.8626 | 2,602.2733 | 2,599.6866 | 2,597.1024 | 2,594.5208 | 31,119.7528 | 31,305.201 |
| ADM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,145.4 | 1,140.8184 | 1,139.7051 | 1,138.5825 | 1,160.1996 | 1,159.0463 | 1,157.8942 | 1,156.7432 | 1,155.5934 | 1,154.4447 | 1,153.2972 | 1,152.1508 | 1,151.0055 | 1,149.8614 | 1,148.7184 | 1,147.5765 | 13,764.506 | 13,846.5312 |
| L1: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.31% | 8.31% | 8.31% | 8.31% | 8.31% | 8.31% | 8.31% | 8.31% | 8.31% | 8.31% | 8.31% | 8.31% | 8.02% | 8.31% |
| L2: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.61% | 12.61% | 12.61% | 12.61% | 12.61% | 12.61% | 12.61% | 12.61% | 12.61% | 12.61% | 12.61% | 12.61% | 12.38% | 12.61% |
| L3: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 18.16% | 18.16% | 18.16% | 18.16% | 18.16% | 18.16% | 18.16% | 18.16% | 18.16% | 18.16% | 18.16% | 18.16% | 17.83% | 18.16% |
| FLD: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.23% | 9.52% |
| NOC: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.27% | 13.27% | 13.27% | 13.27% | 13.27% | 13.27% | 13.27% | 13.27% | 13.27% | 13.27% | 13.27% | 13.27% | 13.05% | 13.27% |
| SDM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 20.32% | 20.32% | 20.32% | 20.32% | 20.32% | 20.32% | 20.32% | 20.32% | 20.32% | 20.32% | 20.32% | 20.32% | 19.96% | 20.32% |
| PEN: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.61% | 16.61% | 16.61% | 16.61% | 16.61% | 16.61% | 16.61% | 16.61% | 16.61% | 16.61% | 16.61% | 16.61% | 16.24% | 16.61% |
| PM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.58% | 21.58% | 21.58% | 21.58% | 21.58% | 21.58% | 21.58% | 21.58% | 21.58% | 21.58% | 21.58% | 21.58% | 21.25% | 21.58% |
| SD: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 25.21% | 25.21% | 25.21% | 25.21% | 25.21% | 25.21% | 25.21% | 25.21% | 25.21% | 25.21% | 25.21% | 25.21% | 24.92% | 25.21% |
| AM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.07% | 15.38% |
| PSE: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.97% | 19.97% | 19.97% | 19.97% | 19.97% | 19.97% | 19.97% | 19.97% | 19.97% | 19.97% | 19.97% | 19.97% | 19.6% | 19.97% |
| MKT: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.63% | 13.63% | 13.63% | 13.63% | 13.63% | 13.63% | 13.63% | 13.63% | 13.63% | 13.63% | 13.63% | 13.63% | 13.36% | 13.63% |
| DIR: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.27% | 29.27% | 29.27% | 29.27% | 29.27% | 29.27% | 29.27% | 29.27% | 29.27% | 29.27% | 29.27% | 29.27% | 29.06% | 29.27% |
| FIN: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.38% | 15.07% | 15.38% |
| HR: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.95% | 12.95% | 12.95% | 12.95% | 12.95% | 12.95% | 12.95% | 12.95% | 12.95% | 12.95% | 12.95% | 12.95% | 12.73% | 12.95% |
| PRC: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.52% | 9.23% | 9.52% |
| ADM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.71% | 7.71% | 7.71% | 7.71% | 7.71% | 7.71% | 7.71% | 7.71% | 7.71% | 7.71% | 7.71% | 7.71% | 7.46% | 7.71% |
| Service delivery: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 41 | 41 | 40 | 39 | 38 | 38 | 39 | 39 | 38.636 | 40.5254 | 41.9202 | 41.7994 | 43.1929 | 43.0832 | 43.7237 | 44.368 | 44.2554 | 44.8985 | 44.79 | 44.6817 | 44.579 | 44.4765 | 44.3741 | 44.272 | 41.7994 | 44.272 | |
| Service delivery: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 66,650 | 66,650 | 65,350 | 63,700 | 62,050 | 61,000 | 62,200 | 62,200 | 61,619.4667 | 64,419.3516 | 66,916.0044 | 66,722.7913 | 70,138.7503 | 69,961.9022 | 70,703.3252 | 71,528.8987 | 71,351.029 | 72,442.2593 | 72,266.8339 | 72,091.8006 | 71,926.0396 | 71,760.5978 | 71,595.4748 | 71,430.7326 | 769,477.6139 | 857,197.6441 |
| Service delivery: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 2,666 | 3,332.5 | 3,267.5 | 5,733 | 3,723 | 5,490 | 8,708 | 13,684 | 4,929.5573 | 3,220.9676 | 2,676.6402 | 6,005.0512 | 2,805.55 | 3,498.0951 | 3,535.1663 | 6,437.6009 | 4,281.0617 | 6,519.8033 | 10,117.3567 | 15,860.1961 | 5,754.0832 | 3,588.0299 | 2,863.819 | 6,428.7659 | 63,436.2163 | 71,689.5282 |
| Service delivery: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 5,554.1667 | 5,554.1667 | 5,445.8333 | 5,308.3333 | 5,170.8333 | 5,083.3333 | 5,183.3333 | 5,183.3333 | 5,134.9556 | 5,368.2793 | 5,576.3337 | 5,560.2326 | 5,844.8959 | 5,830.1585 | 5,891.9438 | 5,960.7416 | 5,945.9191 | 6,036.8549 | 6,022.2362 | 6,007.6501 | 5,993.8366 | 5,980.0498 | 5,966.2896 | 5,952.5611 | 64,123.1345 | 71,433.137 |
| Service delivery: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 11,108.3333 | 11,108.3333 | 10,891.6667 | 10,616.6667 | 10,341.6667 | 10,166.6667 | 10,366.6667 | 10,366.6667 | 10,269.9111 | 10,736.5586 | 11,152.6674 | 11,120.4652 | 11,689.7917 | 11,660.317 | 11,783.8875 | 11,921.4831 | 11,891.8382 | 12,073.7099 | 12,044.4723 | 12,015.3001 | 11,987.6733 | 11,960.0996 | 11,932.5791 | 11,905.1221 | 128,246.269 | 142,866.274 |
| Service delivery: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 61,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72,442.2593 | 0 | 0 | 0 | 0 | 0 | 0 | 61,000 | 72,442.2593 |
| Service delivery: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64,139.2356 | -16.1011 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 71,446.8655 | -13.7285 | 64,123.1345 | 71,433.137 |
| Service delivery: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 66,650 | 66,650 | 65,350 | 63,700 | 62,050 | 122,000 | 62,200 | 62,200 | 61,619.4667 | 64,419.3516 | 131,055.2399 | 66,706.6902 | 70,138.7503 | 69,961.9022 | 70,703.3252 | 71,528.8987 | 71,351.029 | 144,884.5187 | 72,266.8339 | 72,091.8006 | 71,926.0396 | 71,760.5978 | 143,042.3403 | 71,417.0041 | 894,600.7484 | 1,001,073.0405 | |
| Service delivery: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 15,829.38 | 15,829.38 | 15,520.62 | 15,128.75 | 14,736.88 | 28,975 | 14,772.5 | 14,772.5 | 14,634.6233 | 15,299.596 | 31,125.6195 | 15,842.8389 | 16,657.9532 | 16,615.9518 | 16,792.0397 | 16,988.1135 | 16,945.8694 | 34,410.0732 | 17,163.373 | 17,121.8026 | 17,082.4344 | 17,043.142 | 33,972.5558 | 16,961.5385 | 212,467.6878 | 237,754.8471 |
| Service delivery: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 7,331.5 | 7,331.5 | 7,188.5 | 7,007 | 6,825.5 | 13,420 | 6,842 | 6,842 | 6,778.1413 | 7,086.1287 | 14,416.0764 | 7,337.7359 | 7,715.2625 | 7,695.8092 | 7,777.3658 | 7,868.1789 | 7,848.6132 | 15,937.2971 | 7,949.3517 | 7,930.0981 | 7,911.8644 | 7,893.6658 | 15,734.6574 | 7,855.8705 | 98,406.0823 | 110,118.0345 |
| Service delivery: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 8,583.08 | 8,583.08 | 8,463.11 | 8,258.79 | 8,054.47 | 15,510.96 | 7,851.7 | 7,851.7 | 7,778.4175 | 8,084.4639 | 16,550.0528 | 8,423.9015 | 9,016.803 | 8,994.3258 | 9,048.1206 | 9,121.4661 | 9,099.2927 | 18,473.8152 | 9,214.5467 | 9,192.2393 | 9,171.1035 | 9,150.0083 | 18,238.959 | 9,106.1976 | 113,993.7257 | 127,826.8779 |
| Service delivery: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 8,249.2 | 8,159 | 7,960 | 7,417.8 | 7,478.4 | 7,227.6 | 6,988.8 | 6,302.4 | 7,433.5664 | 8,064.5541 | 8,434.3363 | 7,950.2378 | 8,690.4131 | 8,573.5598 | 8,701.0164 | 8,438.7866 | 8,709.4715 | 8,539.6871 | 8,026.365 | 7,220.5678 | 8,576.9979 | 8,850.8137 | 8,928.0708 | 8,420.5351 | 91,665.8945 | 101,676.2848 |
| Service delivery: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 2,011.83 | 2,011.83 | 1,966.17 | 1,916.85 | 1,867.53 | 1,856.5 | 1,901.1 | 1,901.1 | 1,883.3564 | 1,973.2159 | 2,044.0632 | 2,038.1687 | 2,153.1843 | 2,147.7294 | 2,176.5223 | 2,206.3226 | 2,200.7644 | 2,233.3132 | 2,227.9132 | 2,222.5247 | 2,217.4143 | 2,212.3139 | 2,207.2233 | 2,202.1444 | 23,371.7142 | 26,407.37 |
| Service delivery: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 50,735.42 | 50,735.42 | 49,698.39 | 48,434.21 | 47,170.03 | 93,069.04 | 47,506.3 | 47,506.3 | 47,062.9079 | 49,248.7591 | 100,089.1107 | 50,945.0528 | 53,406.6848 | 53,271.7672 | 53,877.8388 | 54,539.2537 | 54,403.1231 | 110,473.4064 | 55,102.9354 | 54,969.4632 | 54,843.0718 | 54,716.9237 | 109,068.7238 | 54,454.9361 | 682,200.9404 | 763,128.1281 |
| Service delivery: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 6,873.2812 | 13,746.5625 | 20,485.7812 | 27,054.8438 | 33,453.75 | 39,744.375 | 46,158.75 | 52,573.125 | 58,927.6325 | 65,570.8781 | -6,900.7129 | 0 | 7,233.0586 | 14,447.8798 | 21,739.1602 | 29,115.5779 | 36,473.6527 | 43,944.2607 | 51,396.778 | 58,831.2449 | 66,248.6178 | 73,648.9294 | -7,383.2833 | 0 | 0 | 0 |
| Service delivery: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,258.3217 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,258.3217 | 0 |
| Service delivery: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 110,061.0737 | 109,146.08 | 106,970.92 | 100,776 | 100,722.3112 | 96,649.6 | 94,329.375 | 87,485.175 | 98,534.2081 | 105,700.5072 | 110,676.7515 | 109,027.2951 | 115,867.6085 | 114,614.714 | 115,871.9766 | 113,324.8434 | 115,983.545 | 114,763.8635 | 109,521.8079 | 101,333.1039 | 114,934.3269 | 117,627.6152 | 118,340.5681 | 113,161.4962 | 1,230,079.2968 | 1,365,345.4693 |
| Projects: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 12.9133 | 12.8272 | 12.8067 | 12.7859 | 13.5148 | 13.4887 | 13.4628 | 13.4406 | 13.4184 | 13.3963 | 13.3742 | 13.3521 | 13.3301 | 13.3081 | 13.2861 | 13.2642 | 12.7859 | 13.2642 | |
| Projects: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 27,200 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,154.3333 | 28,959.9711 | 28,913.6546 | 28,866.6686 | 31,040.1545 | 30,980.6798 | 30,921.3619 | 30,870.4203 | 30,819.5209 | 30,768.6642 | 30,717.8919 | 30,667.2035 | 30,616.5988 | 30,566.0776 | 30,515.6398 | 30,465.2852 | 348,544.6277 | 368,949.4983 |
| Projects: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 1,088 | 1,467.5 | 1,467.5 | 2,641.5 | 1,761 | 2,641.5 | 4,109 | 6,457 | 2,332.3467 | 1,447.9986 | 1,156.5462 | 2,598.0002 | 1,241.6062 | 1,549.034 | 1,546.0681 | 2,778.3378 | 1,849.1713 | 2,769.1798 | 4,300.5049 | 6,746.7848 | 2,449.3279 | 1,528.3039 | 1,220.6256 | 2,741.8757 | 29,167.8916 | 30,720.8198 |
| Projects: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 2,266.6667 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,429.5278 | 2,413.3309 | 2,409.4712 | 2,405.5557 | 2,586.6795 | 2,581.7233 | 2,576.7802 | 2,572.535 | 2,568.2934 | 2,564.0553 | 2,559.8243 | 2,555.6003 | 2,551.3832 | 2,547.1731 | 2,542.97 | 2,538.7738 | 29,045.3856 | 30,745.7915 |
| Projects: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 4,533.3333 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,859.0556 | 4,826.6619 | 4,818.9424 | 4,811.1114 | 5,173.3591 | 5,163.4466 | 5,153.5603 | 5,145.07 | 5,136.5868 | 5,128.1107 | 5,119.6486 | 5,111.2006 | 5,102.7665 | 5,094.3463 | 5,085.94 | 5,077.5475 | 58,090.7713 | 61,491.5831 |
| Projects: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 29,350 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30,768.6642 | 0 | 0 | 0 | 0 | 0 | 0 | 29,350 | 30,768.6642 |
| Projects: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29,049.3011 | -3.9155 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30,749.9877 | -4.1962 | 29,045.3856 | 30,745.7915 |
| Projects: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 27,200 | 29,350 | 29,350 | 29,350 | 29,350 | 58,700 | 29,350 | 29,350 | 29,154.3333 | 28,959.9711 | 57,962.9558 | 28,862.7531 | 31,040.1545 | 30,980.6798 | 30,921.3619 | 30,870.4203 | 30,819.5209 | 61,537.3284 | 30,717.8919 | 30,667.2035 | 30,616.5988 | 30,566.0776 | 61,265.6275 | 30,461.089 | 406,940.0133 | 430,463.954 | |
| Projects: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 6,460 | 6,970.62 | 6,970.62 | 6,970.62 | 6,970.62 | 13,941.25 | 6,970.62 | 6,970.62 | 6,924.1542 | 6,877.9931 | 13,766.202 | 6,854.9039 | 7,372.0367 | 7,357.9114 | 7,343.8235 | 7,331.7248 | 7,319.6362 | 14,615.1155 | 7,295.4993 | 7,283.4608 | 7,271.4422 | 7,259.4434 | 14,550.5865 | 7,234.5086 | 96,648.2232 | 102,235.1891 |
| Projects: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 2,992 | 3,228.5 | 3,228.5 | 3,228.5 | 3,228.5 | 6,457 | 3,228.5 | 3,228.5 | 3,206.9767 | 3,185.5968 | 6,375.9251 | 3,174.9028 | 3,414.417 | 3,407.8748 | 3,401.3498 | 3,395.7462 | 3,390.1473 | 6,769.1061 | 3,378.9681 | 3,373.3924 | 3,367.8259 | 3,362.2685 | 6,739.219 | 3,350.7198 | 44,763.4015 | 47,351.0349 |
| Projects: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 4,702.8 | 5,051.96 | 5,051.96 | 5,051.96 | 5,051.96 | 10,103.92 | 5,051.96 | 5,051.96 | 5,018.2803 | 4,984.8251 | 9,977.054 | 4,968.0911 | 5,438.7192 | 5,428.3738 | 5,418.0553 | 5,409.1286 | 5,400.2096 | 10,782.5969 | 5,382.4021 | 5,373.5205 | 5,364.6535 | 5,355.8012 | 10,734.9894 | 5,337.405 | 70,066.7304 | 75,425.8551 |
| Projects: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 2,414.4 | 2,587 | 2,587 | 2,472.6 | 2,558.4 | 2,472.6 | 2,329.6 | 2,100.8 | 2,484.5253 | 2,552.6216 | 2,576.714 | 2,431.8816 | 2,719.1807 | 2,684.2612 | 2,679.0881 | 2,556.3977 | 2,640.7444 | 2,547.9713 | 2,396.651 | 2,157.6993 | 2,564.7049 | 2,648.306 | 2,673.1655 | 2,522.8483 | 29,568.1425 | 30,791.0183 |
| Projects: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 669.6 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 719.3472 | 714.5515 | 713.4087 | 712.2494 | 769.2075 | 767.7281 | 766.2526 | 764.9903 | 763.729 | 762.4688 | 761.2106 | 759.9545 | 758.7005 | 757.4485 | 756.1986 | 754.9508 | 8,598.4168 | 9,142.84 |
| Projects: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 19,505.2 | 21,069.54 | 21,069.54 | 21,069.54 | 21,069.54 | 42,139.08 | 21,069.54 | 21,069.54 | 20,929.0764 | 20,789.5492 | 41,609.9767 | 20,719.7591 | 22,187.0183 | 22,144.4312 | 22,101.9567 | 22,065.5455 | 22,029.164 | 43,985.6253 | 21,956.5216 | 21,920.2907 | 21,884.1194 | 21,848.0079 | 43,791.4191 | 21,772.9642 | 292,109.8814 | 307,687.064 |
| Projects: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 2,805 | 5,831.7188 | 8,858.4375 | 11,885.1562 | 14,911.875 | 17,938.5938 | 20,965.3125 | 23,992.0312 | 26,998.5719 | 29,985.0689 | -2,981.7206 | 0 | 3,201.0159 | 6,395.8985 | 9,584.664 | 12,768.1761 | 15,946.4392 | 19,119.4577 | 22,287.2403 | 25,449.7956 | 28,607.1324 | 31,759.2591 | -3,146.9254 | 0 | 0 | 0 |
| Projects: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,409.6667 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,409.6667 | 0 |
| Projects: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 43,812.6 | 46,895.93 | 46,895.93 | 45,328.705 | 46,504.1237 | 45,328.705 | 43,369.6738 | 40,235.2237 | 45,415.7029 | 46,272.7303 | 46,584.7063 | 45,991.9004 | 49,967.1396 | 49,458.2987 | 49,363.5632 | 47,635.8763 | 48,790.0703 | 47,478.8576 | 45,352.7258 | 42,006.8381 | 47,652.4134 | 48,796.3799 | 49,122.7202 | 47,010.7161 | 542,635.9311 | 572,635.599 |
| Sales and marketing: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 6.93 | 6.8607 | 6.8446 | 6.8281 | 7.5613 | 7.537 | 7.5129 | 7.4944 | 7.476 | 7.4576 | 7.4392 | 7.4209 | 7.4026 | 7.3844 | 7.3662 | 7.3481 | 6.8281 | 7.3481 | |
| Sales and marketing: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 14,000 | 14,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 15,840 | 15,681.6 | 15,644.784 | 15,607.1362 | 17,410.0503 | 17,355.6324 | 17,301.4707 | 17,259.0314 | 17,216.6083 | 17,174.2032 | 17,131.9039 | 17,089.7095 | 17,047.6189 | 17,005.632 | 16,963.7485 | 16,921.9681 | 186,773.5202 | 205,877.5773 |
| Sales and marketing: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 560 | 700 | 800 | 1,440 | 960 | 1,440 | 2,240 | 3,520 | 1,267.2 | 784.08 | 625.7914 | 1,404.6423 | 696.402 | 867.7816 | 865.0735 | 1,553.3128 | 1,032.9965 | 1,545.6783 | 2,398.4666 | 3,759.7361 | 1,363.8095 | 850.2816 | 678.5499 | 1,522.9771 | 15,741.7136 | 17,135.0656 |
| Sales and marketing: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 1,166.6667 | 1,166.6667 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,320 | 1,306.8 | 1,303.732 | 1,300.5947 | 1,450.8375 | 1,446.3027 | 1,441.7892 | 1,438.2526 | 1,434.7174 | 1,431.1836 | 1,427.6587 | 1,424.1425 | 1,420.6349 | 1,417.136 | 1,413.6457 | 1,410.164 | 15,564.46 | 17,156.4648 |
| Sales and marketing: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 2,333.3333 | 2,333.3333 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,640 | 2,613.6 | 2,607.464 | 2,601.1894 | 2,901.6751 | 2,892.6054 | 2,883.5784 | 2,876.5052 | 2,869.4347 | 2,862.3672 | 2,855.3173 | 2,848.2849 | 2,841.2698 | 2,834.272 | 2,827.2914 | 2,820.328 | 31,128.92 | 34,312.9296 |
| Sales and marketing: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 16,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,174.2032 | 0 | 0 | 0 | 0 | 0 | 0 | 16,000 | 17,174.2032 |
| Sales and marketing: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15,567.5973 | -3.1373 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,159.9465 | -3.4817 | 15,564.46 | 17,156.4648 |
| Sales and marketing: commissions paid (earned the month before) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: prior month commissions | 1,104.84 | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 461.01 | 719.7528 | 780.7488 | 652.6572 | 597.7608 | 7,078.6848 | 561.1632 | 2,247.498 | 2,131.962 | 609.96 | 1,847.7552 | 561.1632 | 365.976 | 719.7528 | 780.7488 | 652.6572 | 20,759.0688 | 18,155.082 |
| Sales and marketing: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 15,104.84 | 14,730.98 | 16,762.39 | 20,644.48 | 16,765.81 | 35,870.36 | 16,899.64 | 21,366.4 | 16,301.01 | 16,401.3528 | 31,993.1301 | 16,256.656 | 18,007.8111 | 24,434.3172 | 17,862.6339 | 19,506.5294 | 19,348.5703 | 34,958.3665 | 18,979.6591 | 17,650.8727 | 17,413.5949 | 17,725.3848 | 34,904.4438 | 17,571.1437 | 239,097.049 | 258,363.3273 | |
| Sales and marketing: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 3,587.4 | 3,498.61 | 3,981.07 | 4,903.06 | 3,981.88 | 8,519.21 | 4,013.66 | 5,074.52 | 3,871.4899 | 3,895.3213 | 7,598.3684 | 3,860.9558 | 4,276.8551 | 5,803.1503 | 4,242.3756 | 4,632.8007 | 4,595.2854 | 8,302.612 | 4,507.669 | 4,192.0823 | 4,135.7288 | 4,209.7789 | 8,289.8054 | 4,173.1466 | 56,785.5454 | 61,361.2902 |
| Sales and marketing: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 1,661.53 | 1,620.41 | 1,843.86 | 2,270.89 | 1,844.24 | 3,945.74 | 1,858.96 | 2,350.3 | 1,793.1111 | 1,804.1488 | 3,519.2443 | 1,788.2322 | 1,980.8592 | 2,687.7749 | 1,964.8897 | 2,145.7182 | 2,128.3427 | 3,845.4203 | 2,087.7625 | 1,941.596 | 1,915.4954 | 1,949.7923 | 3,839.4888 | 1,932.8258 | 26,300.6664 | 28,419.966 |
| Sales and marketing: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 2,717.88 | 2,661.55 | 2,967.62 | 3,552.53 | 2,968.13 | 6,288.65 | 2,988.3 | 3,661.31 | 2,893.6829 | 2,904.4254 | 5,682.7055 | 2,880.4801 | 3,206.4806 | 4,173.511 | 3,182.1078 | 3,428.5854 | 3,403.5803 | 6,241.4341 | 3,345.594 | 3,144.1889 | 3,107.2444 | 3,153.0309 | 6,226.9359 | 3,127.3196 | 42,167.2639 | 45,740.0128 |
| Sales and marketing: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 1,207.2 | 1,194 | 1,393 | 1,331.4 | 1,377.6 | 1,331.4 | 1,254.4 | 1,131.2 | 1,333.332 | 1,365.2793 | 1,377.1321 | 1,298.7088 | 1,521.3328 | 1,499.8665 | 1,495.0588 | 1,425.4424 | 1,471.2813 | 1,418.4372 | 1,333.112 | 1,199.2205 | 1,424.2683 | 1,469.4975 | 1,482.084 | 1,397.6048 | 15,594.6522 | 17,137.206 |
| Sales and marketing: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 339 | 339 | 392 | 392 | 392 | 392 | 392 | 392 | 388.08 | 384.1992 | 383.2972 | 382.3748 | 430.816 | 429.4483 | 428.0872 | 427.0374 | 425.9879 | 424.9387 | 423.8921 | 422.8481 | 421.8066 | 420.7678 | 419.7315 | 418.6977 | 4,567.9512 | 5,094.0594 |
| Sales and marketing: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 10,725.43 | 10,449.03 | 11,950.91 | 14,821.05 | 11,953.44 | 25,635.97 | 12,052.38 | 15,354.79 | 11,614.216 | 11,692.7786 | 22,791.1803 | 11,587.9438 | 12,820.4713 | 17,573.0314 | 12,715.6364 | 13,932.2257 | 13,816.6473 | 24,871.5121 | 13,546.3027 | 12,565.0878 | 12,390.855 | 12,622.5616 | 24,838.0191 | 12,510.9983 | 170,629.1187 | 184,203.3485 |
| Sales and marketing: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 1,443.75 | 2,887.5 | 4,537.5 | 6,187.5 | 7,837.5 | 9,487.5 | 11,137.5 | 12,787.5 | 14,421 | 16,038.165 | -1,613.3683 | 0 | 1,795.4114 | 3,585.211 | 5,369.4252 | 7,149.2628 | 8,924.7255 | 10,695.8153 | 12,462.5428 | 14,224.9191 | 15,982.9548 | 17,736.6606 | -1,749.3866 | 0 | 0 | 0 |
| Sales and marketing: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 762.1544 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 762.1544 | 0 |
| Sales and marketing: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 22,509.45 | 22,323 | 25,545 | 24,691.4 | 25,331.6 | 24,691.4 | 23,624.4 | 21,917.2 | 24,655.752 | 25,036.6545 | 25,186.5378 | 24,847.282 | 28,021.5229 | 27,702.429 | 27,615.83 | 26,627.8194 | 27,250.877 | 26,496.9447 | 25,289.8157 | 23,405.0395 | 26,528.8961 | 27,143.6288 | 27,302.9083 | 26,107.7878 | 290,359.6763 | 319,493.4991 |
| General and administrative: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 8.964 | 8.9281 | 8.9194 | 8.9106 | 8.9018 | 8.8929 | 8.8841 | 8.8753 | 8.8664 | 8.8576 | 8.8488 | 8.84 | 8.8312 | 8.8225 | 8.8137 | 8.8049 | 8.9106 | 8.8049 | |
| General and administrative: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,364.2 | 21,278.7432 | 21,257.9782 | 21,237.0389 | 21,640.2455 | 21,618.734 | 21,597.2444 | 21,575.7761 | 21,554.3292 | 21,532.9036 | 21,511.4993 | 21,490.1163 | 21,468.7546 | 21,447.4141 | 21,426.0948 | 21,404.7966 | 256,737.9603 | 258,267.9086 |
| General and administrative: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 858 | 1,072.5 | 1,072.5 | 1,930.5 | 1,287 | 1,930.5 | 3,003 | 4,719 | 1,709.136 | 1,063.9372 | 850.3191 | 1,911.3335 | 865.6098 | 1,080.9367 | 1,079.8622 | 1,941.8199 | 1,293.2598 | 1,937.9613 | 3,011.6099 | 4,727.8256 | 1,717.5004 | 1,072.3707 | 857.0438 | 1,926.4317 | 21,407.7258 | 21,512.2317 |
| General and administrative: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,780.35 | 1,773.2286 | 1,771.4982 | 1,769.7532 | 1,803.3538 | 1,801.5612 | 1,799.7704 | 1,797.9813 | 1,796.1941 | 1,794.4086 | 1,792.6249 | 1,790.843 | 1,789.0629 | 1,787.2845 | 1,785.5079 | 1,783.7331 | 21,394.83 | 21,522.3257 |
| General and administrative: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,560.7 | 3,546.4572 | 3,542.9964 | 3,539.5065 | 3,606.7076 | 3,603.1223 | 3,599.5407 | 3,595.9627 | 3,592.3882 | 3,588.8173 | 3,585.2499 | 3,581.6861 | 3,578.1258 | 3,574.569 | 3,571.0158 | 3,567.4661 | 42,789.6601 | 43,044.6514 |
| General and administrative: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 21,450 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,532.9036 | 0 | 0 | 0 | 0 | 0 | 0 | 21,450 | 21,532.9036 |
| General and administrative: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,396.575 | -1.7449 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,524.1006 | -1.7748 | 21,394.83 | 21,522.3257 |
| General and administrative: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 42,900 | 21,450 | 21,450 | 21,364.2 | 21,278.7432 | 42,654.5532 | 21,235.294 | 21,640.2455 | 21,618.734 | 21,597.2444 | 21,575.7761 | 21,554.3292 | 43,065.8073 | 21,511.4993 | 21,490.1163 | 21,468.7546 | 21,447.4141 | 42,950.1953 | 21,403.0218 | 299,582.7904 | 301,323.1379 | |
| General and administrative: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 10,188.75 | 5,094.38 | 5,094.38 | 5,073.9975 | 5,053.7015 | 10,130.4564 | 5,043.3823 | 5,139.5583 | 5,134.4493 | 5,129.3455 | 5,124.2468 | 5,119.1532 | 10,228.1292 | 5,108.9811 | 5,103.9026 | 5,098.8292 | 5,093.7608 | 10,200.6714 | 5,083.2177 | 71,150.9477 | 71,564.2453 |
| General and administrative: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 4,719 | 2,359.5 | 2,359.5 | 2,350.062 | 2,340.6618 | 4,692.0009 | 2,335.8823 | 2,380.427 | 2,378.0607 | 2,375.6969 | 2,373.3354 | 2,370.9762 | 4,737.2388 | 2,366.2649 | 2,363.9128 | 2,361.563 | 2,359.2155 | 4,724.5215 | 2,354.3324 | 32,954.1069 | 33,145.5452 |
| General and administrative: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 8,703.86 | 4,351.93 | 4,351.93 | 4,334.5223 | 4,317.1842 | 8,654.062 | 4,308.3689 | 4,444.9711 | 4,440.5526 | 4,436.1385 | 4,431.7289 | 4,427.3237 | 8,845.8455 | 4,418.5263 | 4,414.1341 | 4,409.7464 | 4,405.363 | 8,822.0985 | 4,396.2447 | 60,781.5074 | 61,892.6732 |
| General and administrative: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 1,810.8 | 1,791 | 1,791 | 1,711.8 | 1,771.2 | 1,711.8 | 1,612.8 | 1,454.4 | 1,724.6736 | 1,776.7007 | 1,794.5896 | 1,694.8048 | 1,791.0397 | 1,769.6948 | 1,767.9357 | 1,688.0759 | 1,744.9165 | 1,684.7216 | 1,585.7099 | 1,428.5491 | 1,699.1314 | 1,755.6707 | 1,773.3156 | 1,674.6986 | 20,645.5687 | 20,363.4594 |
| General and administrative: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 511.1721 | 509.1274 | 508.6306 | 508.1296 | 519.2012 | 518.6851 | 518.1695 | 517.6544 | 517.1399 | 516.6258 | 516.1123 | 515.5993 | 515.0867 | 514.5747 | 514.0632 | 513.5522 | 6,142.8997 | 6,196.4644 |
| General and administrative: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 29,477.14 | 14,738.57 | 14,738.57 | 14,679.6157 | 14,620.8973 | 29,308.4904 | 14,591.0427 | 14,814.8474 | 14,800.1206 | 14,785.4089 | 14,770.7118 | 14,756.0294 | 29,482.7229 | 14,726.7082 | 14,712.0694 | 14,697.4452 | 14,682.8356 | 29,403.5753 | 14,652.4447 | 205,847.1761 | 206,284.9195 |
| General and administrative: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 2,212.0312 | 4,424.0625 | 6,636.0938 | 8,848.125 | 11,060.1562 | 13,272.1875 | 15,484.2188 | 17,696.25 | 19,899.4331 | 22,093.8035 | -2,192.229 | 0 | 2,231.6503 | 4,461.0823 | 6,688.2981 | 8,913.3 | 11,136.0902 | 13,356.6709 | 15,575.0443 | 17,791.2125 | 20,005.1778 | 22,216.9424 | -2,209.566 | 0 | 0 | 0 |
| General and administrative: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,037.0835 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,037.0835 | 0 |
| General and administrative: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 34,442.7237 | 34,157.48 | 34,157.48 | 33,016.505 | 33,872.2363 | 33,016.505 | 31,590.2863 | 29,308.3363 | 33,168.5368 | 33,884.7617 | 34,134.3853 | 33,725.7872 | 34,713.8035 | 34,392.1998 | 34,358.0131 | 33,177.757 | 34,003.5004 | 33,111.8306 | 31,650.5554 | 29,335.9879 | 33,298.2912 | 34,119.6553 | 34,370.2775 | 32,914.8364 | 398,475.0236 | 399,446.7081 |
| Base salaries paid, all departments | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | 129,300 | 131,450 | 132,150 | 130,500 | 128,850 | 127,800 | 129,000 | 129,000 | 127,978 | 130,339.666 | 132,732.4212 | 132,433.6349 | 140,229.2006 | 139,916.9484 | 140,523.4022 | 141,234.1265 | 140,941.4874 | 141,918.0304 | 141,628.129 | 141,338.83 | 141,059.012 | 140,779.7215 | 140,500.9578 | 140,222.7826 | 1,561,533.7221 | 1,690,292.6283 | |
| Accrued in the month | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | base x 2 / 12 x (1 + TSU) | 26,668.125 | 27,111.5625 | 27,255.9375 | 26,915.625 | 26,575.3125 | 26,358.75 | 26,606.25 | 26,606.25 | 26,395.4625 | 26,882.5561 | 27,376.0619 | 27,314.4372 | 28,922.2726 | 28,857.8706 | 28,982.9517 | 29,129.5386 | 29,069.1818 | 29,270.5938 | 29,210.8016 | 29,151.1337 | 29,093.4212 | 29,035.8176 | 28,978.3226 | 28,920.9489 | 322,066.3302 | 348,622.8546 |
| Released: holidays taken and the holiday allowance paid | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | -6,400.35 | -8,133.4688 | -8,176.7812 | -14,534.4375 | -9,567.1125 | -172,386.225 | -22,349.25 | -35,120.25 | -12,669.822 | -8,064.7668 | -6,570.2549 | -14,749.7961 | -6,941.3454 | -8,657.3612 | -8,694.8855 | -15,729.9508 | -10,464.9054 | -191,429.6833 | -24,537.0734 | -38,479.4965 | -13,964.8422 | -8,710.7453 | -6,954.7974 | -15,617.3124 | -318,722.5148 | -350,182.3988 | |
| Revaluation in December 2026 for the January 2027 pay review | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | balance x pay review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6,467.2263 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6,467.2263 | 0 |
| HOLIDAY PAY AND ALLOWANCE ACCRUED (liability) | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | opening + accrued - released + revaluation | 340,285.275 | 359,263.3688 | 378,342.525 | 390,723.7125 | 407,731.9125 | 261,704.4375 | 265,961.4375 | 257,447.4375 | 271,173.078 | 289,990.8673 | 310,796.6743 | 329,828.5417 | 351,809.4689 | 372,009.9783 | 392,298.0445 | 405,697.6323 | 424,301.9086 | 262,142.8191 | 266,816.5474 | 257,488.1846 | 272,616.7636 | 292,941.8359 | 314,965.361 | 328,268.9975 | 329,828.5417 | 328,268.9975 |
| CHRISTMAS ALLOWANCE ACCRUED (liability, nil after the December payroll) | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | 13,334.0625 | 26,889.8438 | 40,517.8125 | 53,975.625 | 67,263.2812 | 80,442.6562 | 93,745.7812 | 107,048.9062 | 120,246.6375 | 133,687.9156 | -13,688.0309 | 0 | 14,461.1363 | 28,890.0716 | 43,381.5475 | 57,946.3168 | 72,480.9076 | 87,116.2045 | 101,721.6053 | 116,297.1722 | 130,843.8828 | 145,361.7916 | -14,489.1613 | 0 | 0 | 0 | |
| Check: Christmas accrual is nil in December (must be zero) | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Commissions earned | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | A: statements; F: rate x first-year fees of new contracts + rate x hardware margin | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 461.01 | 719.7528 | 780.7488 | 652.6572 | 597.7608 | 7,078.6848 | 561.1632 | 2,247.498 | 2,131.962 | 609.96 | 1,847.7552 | 561.1632 | 365.976 | 719.7528 | 780.7488 | 652.6572 | 597.7608 | 20,251.9896 | 18,155.082 |
| of which on new managed service contracts | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | rate x first-year fees | 0 | 0 | 3,784.32 | 0 | 3,049.92 | 0 | 4,613.76 | 0 | 0 | 0 | 0 | 0 | 6,541.92 | 0 | 1,607.04 | 1,552.5 | 0 | 1,164.6 | 0 | 0 | 0 | 0 | 0 | 0 | 11,448 | 10,866.06 |
| of which on hardware margin | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 730.98 | 762.39 | 860.16 | 765.81 | 820.44 | 899.64 | 752.64 | 461.01 | 719.7528 | 780.7488 | 652.6572 | 597.7608 | 536.7648 | 561.1632 | 640.458 | 579.462 | 609.96 | 683.1552 | 561.1632 | 365.976 | 719.7528 | 780.7488 | 652.6572 | 597.7608 | 8,803.9896 | 7,289.022 | |
| Contract costs capitalised (commission on new contracts and its TSU) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 0 | 0 | 4,683.096 | 0 | 3,774.276 | 0 | 5,709.528 | 0 | 0 | 0 | 0 | 0 | 8,095.626 | 0 | 1,988.712 | 1,921.2188 | 0 | 1,441.1925 | 0 | 0 | 0 | 0 | 0 | 0 | 14,166.9 | 13,446.7493 | |
| Amortisation of contract costs (36 months from the contract start) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 0 | 0 | 130.086 | 130.086 | 234.927 | 234.927 | 393.525 | 393.525 | 393.525 | 393.525 | 393.525 | 393.525 | 618.4035 | 618.4035 | 673.6455 | 727.0127 | 727.0127 | 767.0458 | 767.0458 | 767.0458 | 767.0458 | 767.0458 | 767.0458 | 767.0458 | 3,091.176 | 8,733.7986 | |
| CONTRACT COSTS: CAPITALISED COMMISSIONS (asset) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | opening + capitalised - amortised | 0 | 0 | 4,553.01 | 4,422.924 | 7,962.273 | 7,727.346 | 13,043.349 | 12,649.824 | 12,256.299 | 11,862.774 | 11,469.249 | 11,075.724 | 18,552.9465 | 17,934.543 | 19,249.6095 | 20,443.8156 | 19,716.8029 | 20,390.9496 | 19,623.9038 | 18,856.8579 | 18,089.8121 | 17,322.7663 | 16,555.7205 | 15,788.6747 | 11,075.724 | 15,788.6747 |
| COMMISSION COST IN SALES AND MARKETING (hardware commission incl. TSU + amortisation of contract costs) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 904.5878 | 943.4576 | 1,194.534 | 1,077.7759 | 1,250.2215 | 1,348.2315 | 1,324.917 | 964.0249 | 1,284.2191 | 1,359.7016 | 1,201.1883 | 1,133.254 | 1,282.6499 | 1,312.843 | 1,466.2123 | 1,444.0969 | 1,481.8382 | 1,612.4504 | 1,461.4853 | 1,219.9411 | 1,657.7399 | 1,733.2225 | 1,574.7091 | 1,506.7748 | 13,986.1131 | 17,753.9633 | |
| Commissions payable, incl. TSU (paid with the next payroll) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 904.5878 | 943.4576 | 5,747.544 | 947.6899 | 4,789.5705 | 1,113.3045 | 6,640.92 | 570.4999 | 890.6941 | 966.1766 | 807.6633 | 739.729 | 8,759.8724 | 694.4395 | 2,781.2788 | 2,638.303 | 754.8255 | 2,286.5971 | 694.4395 | 452.8953 | 890.6941 | 966.1766 | 807.6633 | 739.729 | 739.729 | 739.729 | |
| Social security due for the month (employer and employee) | PAYROLL LIABILITIES AND PAYMENTS | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,632.556 | 45,543.148 | 91,623.893 | 46,238.8342 | 48,937.3691 | 51,080.9825 | 49,026.8865 | 49,859.8645 | 49,718.0237 | 98,844.9922 | 49,857.8698 | 49,310.2476 | 49,145.1833 | 49,171.0673 | 98,051.5059 | 48,946.1598 | 639,476.6611 | 691,950.1523 | |
| Social security paid (20th of the following month) | PAYROLL LIABILITIES AND PAYMENTS | A: bank; F: prior month | 44,038.67 | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,632.556 | 45,543.148 | 91,623.893 | 46,238.8342 | 48,937.3691 | 51,080.9825 | 49,026.8865 | 49,859.8645 | 49,718.0237 | 98,844.9922 | 49,857.8698 | 49,310.2476 | 49,145.1833 | 49,171.0673 | 98,051.5059 | 637,276.497 | 689,242.8266 |
| SOCIAL SECURITY PAYABLE | PAYROLL LIABILITIES AND PAYMENTS | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,632.556 | 45,543.148 | 91,623.893 | 46,238.8342 | 48,937.3691 | 51,080.9825 | 49,026.8865 | 49,859.8645 | 49,718.0237 | 98,844.9922 | 49,857.8698 | 49,310.2476 | 49,145.1833 | 49,171.0673 | 98,051.5059 | 48,946.1598 | 46,238.8342 | 48,946.1598 | |
| IRS withheld in the month | PAYROLL LIABILITIES AND PAYMENTS | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 20,024.9029 | 20,290.8986 | 40,863.8743 | 20,580.8416 | 22,106.9739 | 23,036.7632 | 22,084.4224 | 22,390.909 | 22,330.4063 | 44,343.6917 | 22,361.0691 | 22,124.0829 | 22,052.7477 | 22,064.2033 | 44,022.9828 | 21,967.1668 | 287,009.2273 | 310,885.4191 | |
| IRS withheld paid (20th of the following month) | PAYROLL LIABILITIES AND PAYMENTS | A: bank; F: prior month | 19,781.39 | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 20,024.9029 | 20,290.8986 | 40,863.8743 | 20,580.8416 | 22,106.9739 | 23,036.7632 | 22,084.4224 | 22,390.909 | 22,330.4063 | 44,343.6917 | 22,361.0691 | 22,124.0829 | 22,052.7477 | 22,064.2033 | 44,022.9828 | 286,209.7758 | 309,499.0938 |
| IRS WITHHELD PAYABLE | PAYROLL LIABILITIES AND PAYMENTS | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 20,024.9029 | 20,290.8986 | 40,863.8743 | 20,580.8416 | 22,106.9739 | 23,036.7632 | 22,084.4224 | 22,390.909 | 22,330.4063 | 44,343.6917 | 22,361.0691 | 22,124.0829 | 22,052.7477 | 22,064.2033 | 44,022.9828 | 21,967.1668 | 20,580.8416 | 21,967.1668 | |
| Net pay (salaries, allowances and commissions) | PAYROLL LIABILITIES AND PAYMENTS | 95,704.62 | 96,992.56 | 97,457.41 | 99,063.37 | 94,931.58 | 190,321.23 | 95,366.79 | 98,669.2 | 94,285.816 | 96,351.9841 | 193,798.7581 | 97,843.7985 | 103,229.0218 | 107,789.3503 | 103,480.8408 | 105,307.7368 | 105,004.9637 | 208,813.2668 | 105,332.4679 | 104,166.911 | 103,815.4915 | 103,870.3288 | 207,101.7374 | 103,391.3433 | 1,350,787.1167 | 1,461,303.4601 | |
| Meal allowance (card top-up with the payroll) | PAYROLL LIABILITIES AND PAYMENTS | 13,681.6 | 13,731 | 13,731 | 12,933.6 | 13,185.6 | 12,743.4 | 12,185.6 | 10,988.8 | 12,976.0973 | 13,759.1557 | 14,182.7719 | 13,375.633 | 14,721.9662 | 14,527.3823 | 14,643.099 | 14,108.7026 | 14,566.4136 | 14,190.8172 | 13,341.8379 | 12,006.0367 | 14,265.1024 | 14,724.2879 | 14,856.6358 | 14,015.6869 | 157,474.258 | 169,967.9685 | |
| Work accident and health insurance (direct debit) | PAYROLL LIABILITIES AND PAYMENTS | 3,533.66 | 3,588.24 | 3,595.58 | 3,546.26 | 3,496.94 | 3,485.91 | 3,530.51 | 3,530.51 | 3,501.9557 | 3,581.094 | 3,649.3997 | 3,640.9225 | 3,872.4091 | 3,863.591 | 3,889.0316 | 3,916.0048 | 3,907.6212 | 3,937.3465 | 3,929.1282 | 3,920.9265 | 3,913.0082 | 3,905.1049 | 3,897.2166 | 3,889.3452 | 42,680.9819 | 46,840.7338 | |
| Payroll cost, all departments (excl. commissions) | TOTALS | 210,825.8475 | 212,522.49 | 213,569.33 | 203,812.61 | 206,430.2712 | 199,686.21 | 192,913.735 | 178,945.935 | 201,774.1997 | 210,894.6537 | 216,582.3808 | 213,592.2648 | 228,570.0746 | 226,167.6416 | 227,209.3828 | 220,766.296 | 226,027.9927 | 221,851.4964 | 211,814.9048 | 196,080.9693 | 222,413.9275 | 227,687.2791 | 229,136.4741 | 219,194.8365 | 2,461,549.9278 | 2,656,921.2756 | |
| Remuneration paid | TOTALS | 130,404.84 | 132,180.98 | 132,912.39 | 135,144.48 | 129,615.81 | 259,470.36 | 129,899.64 | 134,366.4 | 128,439.01 | 131,059.4188 | 263,665.8791 | 133,061.3933 | 140,826.9614 | 146,995.6332 | 141,084.5654 | 143,481.6245 | 143,073.4494 | 284,446.0208 | 143,475.8842 | 141,899.9932 | 141,424.988 | 141,499.4743 | 282,162.6069 | 140,852.2586 | 1,840,220.6011 | 1,991,223.4597 | |
| Recruitment cost of hires | TOTALS | hires x cost per hire | 0 | 2,200 | 2,200 | 0 | 0 | 2,200 | 2,200 | 0 | 0 | 4,950 | 4,218.5 | 910.5485 | 7,537.3181 | 958.2485 | 2,605.8295 | 2,647.3469 | 994.9119 | 2,654.0325 | 1,013.348 | 1,011.0093 | 1,020.3062 | 1,018.0313 | 1,015.7611 | 1,013.577 | 18,879.0485 | 23,489.7205 |
| Payroll cost per head a month | TOTALS | 3,100.3801 | 3,080.0361 | 3,095.2077 | 2,997.2443 | 3,081.0488 | 2,980.3912 | 2,836.9667 | 2,631.5579 | 2,991.759 | 3,050.1898 | 3,072.4865 | 3,037.258 | 3,123.7878 | 3,098.1053 | 3,087.7799 | 2,976.1595 | 3,053.7585 | 2,973.4831 | 2,844.9777 | 2,639.2294 | 2,999.799 | 3,077.2129 | 3,103.1425 | 2,974.5854 | 2,996.2105 | 2,996.0018 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (fees, SLA credits, onboarding, bundled licences) | MANAGED SERVICES | Revenue | 288,374.83 | 289,887.79 | 294,708.93 | 294,421.49 | 289,342.7 | 291,699.94 | 293,395.62 | 297,373.49 | 298,729.9145 | 301,378.5587 | 301,055.3213 | 299,241.7991 | 309,006.8205 | 311,549.3747 | 299,173.1328 | 300,467.4386 | 299,802.957 | 302,265.2392 | 302,020.6831 | 297,625.4019 | 297,978.3167 | 297,825.1534 | 296,939.0915 | 297,315.2176 | 3,539,610.3836 | 3,611,968.8271 |
| Service delivery payroll | MANAGED SERVICES | People | -110,061.0737 | -109,146.08 | -106,970.92 | -100,776 | -100,722.3112 | -96,649.6 | -94,329.375 | -87,485.175 | -98,534.2081 | -105,700.5072 | -110,676.7515 | -109,027.2951 | -115,867.6085 | -114,614.714 | -115,871.9766 | -113,324.8434 | -115,983.545 | -114,763.8635 | -109,521.8079 | -101,333.1039 | -114,934.3269 | -117,627.6152 | -118,340.5681 | -113,161.4962 | -1,230,079.2968 | -1,365,345.4693 |
| Service tooling | MANAGED SERVICES | Overheads | -19,340.7452 | -19,237.6251 | -19,903.7892 | -20,060.8229 | -19,856.1107 | -19,742.2967 | -20,113.8041 | -20,113.033 | -21,722.9396 | -21,465.5065 | -21,403.3106 | -21,310.0712 | -21,972.139 | -21,929.7452 | -21,217.8809 | -21,303.0117 | -21,273.688 | -21,405.6472 | -21,384.7024 | -21,129.1578 | -21,146.8285 | -21,134.2506 | -21,081.1105 | -21,098.7322 | -244,270.0547 | -256,076.894 |
| Colocation and backup storage | MANAGED SERVICES | Overheads | -8,856.6 | -8,856.6 | -8,883.6 | -8,885.4 | -8,870.1 | -8,871 | -8,900.7 | -8,902.5 | -8,903.1237 | -8,887.5397 | -8,882.9723 | -8,875.4838 | -9,137.2881 | -9,133.6439 | -9,100.9408 | -9,107.744 | -9,105.7956 | -9,114.5181 | -9,112.3904 | -9,096.116 | -9,096.7597 | -9,096.0661 | -9,090.0489 | -9,090.6883 | -106,575.6195 | -109,282 |
| Field vans | MANAGED SERVICES | Overheads | -5,636.01 | -5,397.13 | -4,560.78 | -4,836.18 | -4,674.39 | -5,555.41 | -5,465.7 | -5,641.87 | -5,485.76 | -5,441.9329 | -5,431.6949 | -5,421.2427 | -5,545.8458 | -5,534.9464 | -5,524.0738 | -6,120.5386 | -6,104.0476 | -6,087.6344 | -6,075.5497 | -6,063.4623 | -6,051.3728 | -6,039.3116 | -6,027.2784 | -6,015.2728 | -63,548.1005 | -71,189.3343 |
| Bundled licence cost net of its vendor incentive | MANAGED SERVICES | Licences, Rebates | -53,873.4018 | -54,051.3896 | -55,363.5192 | -55,460.7996 | -54,495.1603 | -54,493.0496 | -56,042.6503 | -56,338.0397 | -56,420.081 | -55,584.2541 | -55,393.8777 | -55,117.7209 | -59,002.1734 | -58,875.0768 | -56,328.4464 | -56,591.1179 | -56,494.9203 | -56,928.477 | -56,870.4227 | -56,021.8891 | -56,087.5379 | -56,044.2175 | -55,905.8867 | -55,971.3907 | -662,633.9439 | -681,121.5565 |
| GROSS MARGIN: MANAGED SERVICES | MANAGED SERVICES | 90,606.9993 | 93,198.9653 | 99,026.3216 | 104,402.2875 | 100,724.6277 | 106,388.5837 | 108,543.3906 | 118,892.8722 | 107,663.8021 | 104,298.8183 | 99,266.7144 | 99,489.9854 | 97,481.7657 | 101,461.2484 | 91,129.8142 | 94,020.183 | 90,840.9604 | 93,965.0989 | 99,055.81 | 103,981.6729 | 90,661.491 | 87,883.6922 | 86,494.1989 | 91,977.6373 | 1,232,503.3681 | 1,128,953.573 | |
| Gross margin % | MANAGED SERVICES | 31.42% | 32.15% | 33.6% | 35.46% | 34.81% | 36.47% | 37% | 39.98% | 36.04% | 34.61% | 32.97% | 33.25% | 31.55% | 32.57% | 30.46% | 31.29% | 30.3% | 31.09% | 32.8% | 34.94% | 30.43% | 29.51% | 29.13% | 30.94% | 34.82% | 31.26% | |
| Revenue | HARDWARE | Revenue | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 208,624 | 226,304 | 189,176 | 173,264 | 155,584 | 162,656 | 185,640 | 167,960 | 176,800 | 198,016 | 162,656 | 106,080 | 208,624 | 226,304 | 189,176 | 173,264 | 2,372,368 | 2,112,760 |
| Cost before rebates | HARDWARE | Hardware | -161,634 | -171,587 | -195,328 | -175,473 | -184,652 | -208,012 | -170,912 | -105,633 | -184,632.24 | -200,279.04 | -167,420.76 | -153,338.64 | -137,691.84 | -143,950.56 | -164,291.4 | -148,644.6 | -156,468 | -175,244.16 | -143,950.56 | -93,880.8 | -184,632.24 | -200,279.04 | -167,420.76 | -153,338.64 | -2,078,901.68 | -1,869,792.6 |
| Distributor rebate | HARDWARE | Rebates | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 3,270.7697 | 3,068.4889 | 2,326.5277 | 2,166.8799 | 1,959.3831 | 2,306.1364 | 2,497.6835 | 2,157.2395 | 2,366.4523 | 2,795.427 | 0 | 0 | 0 | 3,068.4889 | 2,326.5277 | 2,166.8799 | 30,774.7863 | 21,644.2184 |
| GROSS MARGIN: HARDWARE | HARDWARE | 26,451.58 | 28,022.27 | 31,835.67 | 28,080.48 | 30,010.02 | 33,315.43 | 27,414.49 | 16,581.18 | 27,262.5297 | 29,093.4489 | 24,081.7677 | 22,092.2399 | 19,851.5431 | 21,011.5764 | 23,846.2835 | 21,472.6395 | 22,698.4523 | 25,567.267 | 18,705.44 | 12,199.2 | 23,991.76 | 29,093.4489 | 24,081.7677 | 22,092.2399 | 324,241.1063 | 264,611.6184 | |
| Gross margin % | HARDWARE | 14.22% | 14.22% | 14.21% | 13.97% | 14.16% | 14% | 13.99% | 13.7% | 13.07% | 12.86% | 12.73% | 12.75% | 12.76% | 12.92% | 12.85% | 12.78% | 12.84% | 12.91% | 11.5% | 11.5% | 11.5% | 12.86% | 12.73% | 12.75% | 13.67% | 12.52% | |
| Revenue | LICENCE RESALE (annual licences as principal, other licences as agent) | Revenue | 40,560.95 | 41,360.3667 | 43,158.9667 | 41,960.0167 | 42,151.5667 | 42,684.55 | 41,885.25 | 39,512.2333 | 41,484.3716 | 41,965.2807 | 42,514.891 | 43,201.9039 | 39,766.8393 | 40,179.0471 | 41,553.0729 | 40,522.5535 | 40,728.6574 | 41,140.8652 | 40,453.8522 | 38,530.2161 | 41,484.3716 | 41,965.2807 | 42,514.891 | 43,201.9039 | 502,440.3473 | 492,041.551 |
| Annual licence cost recognised, net of its vendor incentive | LICENCE RESALE (annual licences as principal, other licences as agent) | Licences, Rebates | -20,003.1982 | -25,325.987 | -25,262.9074 | -25,417.9471 | -25,576.7864 | -25,483.5604 | -25,651.5197 | -25,795.4136 | -25,439.7333 | -25,599.3333 | -25,667.7333 | -25,371.3333 | -20,389.5333 | -25,642.6533 | -25,503.5733 | -25,601.6133 | -25,722.4533 | -25,546.8933 | -25,676.8533 | -25,795.4133 | -25,439.7333 | -25,599.3333 | -25,667.7333 | -25,371.3333 | -300,595.4532 | -301,957.12 |
| GROSS MARGIN: LICENCE RESALE | LICENCE RESALE (annual licences as principal, other licences as agent) | 20,557.7518 | 16,034.3796 | 17,896.0592 | 16,542.0696 | 16,574.7803 | 17,200.9896 | 16,233.7303 | 13,716.8197 | 16,044.6383 | 16,365.9473 | 16,847.1577 | 17,830.5706 | 19,377.306 | 14,536.3937 | 16,049.4996 | 14,920.9402 | 15,006.2041 | 15,593.9718 | 14,776.9989 | 12,734.8027 | 16,044.6383 | 16,365.9473 | 16,847.1577 | 17,830.5706 | 201,844.8941 | 190,084.431 | |
| Gross margin % | LICENCE RESALE (annual licences as principal, other licences as agent) | 50.68% | 38.77% | 41.47% | 39.42% | 39.32% | 40.3% | 38.76% | 34.72% | 38.68% | 39% | 39.63% | 41.27% | 48.73% | 36.18% | 38.62% | 36.82% | 36.84% | 37.9% | 36.53% | 33.05% | 38.68% | 39% | 39.63% | 41.27% | 40.17% | 38.63% | |
| Revenue | PROJECTS | Revenue | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 85,800.8838 | 75,400 | 71,500 | 62,850 | 61,750 | 64,350 | 68,900 | 66,300 | 63,050 | 71,500 | 60,450 | 39,000 | 68,250 | 75,400 | 71,500 | 68,250 | 830,864.0538 | 778,700 |
| Project team payroll | PROJECTS | People | -43,812.6 | -46,895.93 | -46,895.93 | -45,328.705 | -46,504.1237 | -45,328.705 | -43,369.6738 | -40,235.2237 | -45,415.7029 | -46,272.7303 | -46,584.7063 | -45,991.9004 | -49,967.1396 | -49,458.2987 | -49,363.5632 | -47,635.8763 | -48,790.0703 | -47,478.8576 | -45,352.7258 | -42,006.8381 | -47,652.4134 | -48,796.3799 | -49,122.7202 | -47,010.7161 | -542,635.9311 | -572,635.599 |
| Subcontractors | PROJECTS | Projects | -3,140 | -4,780 | -8,060 | -13,800 | -16,260 | -17,900 | -17,080 | -11,340 | -13,636 | -16,592.5735 | -16,122.2794 | -5,857.5765 | -6,861.4706 | -9,297.3529 | -9,846.0294 | -9,532.5 | -9,140.5882 | -10,159.5588 | -8,827.0588 | -6,240.4412 | -9,767.6471 | -10,629.8529 | -10,159.5588 | -9,767.6471 | -144,568.4294 | -110,229.7059 |
| Onerous provision movement | PROJECTS | Projects | 0 | 0 | 0 | 0 | 0 | -10,147.14 | 4,731.43 | 2,908.57 | -1,868.7138 | 2,187.9269 | 2,187.9269 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| GROSS MARGIN: PROJECTS | PROJECTS | 3,599.48 | 16,965.5 | 36,714.23 | 36,922.595 | 25,884.9863 | -43,522.235 | 15,405.4662 | -9,894.8838 | 24,880.4671 | 14,722.6231 | 10,980.9412 | 11,000.5231 | 4,921.3898 | 5,594.3483 | 9,690.4074 | 9,131.6237 | 5,119.3415 | 13,861.5836 | 6,270.2154 | -9,247.2793 | 10,829.9396 | 15,973.7672 | 12,217.7209 | 11,471.6369 | 143,659.6933 | 95,834.6951 | |
| Gross margin % | PROJECTS | 7.12% | 24.72% | 40.05% | 38.44% | 29.2% | -145.79% | 21.66% | -25.52% | 29% | 19.53% | 15.36% | 17.5% | 7.97% | 8.69% | 14.06% | 13.77% | 8.12% | 19.39% | 10.37% | -23.71% | 15.87% | 21.19% | 17.09% | 16.81% | 17.29% | 12.31% | |
| GROSS PROFIT | RECONCILIATION TO THE P&L | sum of the service lines | 141,215.8111 | 154,221.1149 | 185,472.2808 | 185,947.4321 | 173,194.4143 | 113,382.7683 | 167,597.0772 | 139,295.9882 | 175,851.4373 | 164,480.8377 | 151,176.581 | 150,413.319 | 141,632.0047 | 142,603.5668 | 140,716.0048 | 139,545.3864 | 133,664.9583 | 148,987.9213 | 138,808.4643 | 119,668.3963 | 141,527.8288 | 149,316.8557 | 139,640.8453 | 143,372.0847 | 1,902,249.0618 | 1,679,484.3175 |
| Check: service lines less the P&L gross profit (must be zero) | RECONCILIATION TO THE P&L | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Managed services share of gross profit | RECONCILIATION TO THE P&L | 64.16% | 60.43% | 53.39% | 56.15% | 58.16% | 93.83% | 64.76% | 85.35% | 61.22% | 63.41% | 65.66% | 66.14% | 68.83% | 71.15% | 64.76% | 67.38% | 67.96% | 63.07% | 71.36% | 86.89% | 64.06% | 58.86% | 61.94% | 64.15% | 64.79% | 67.22% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | GROWTH AND RECURRING REVENUE | PL | 565,487.86 | 596,889.5867 | 653,538.0567 | 633,432.8067 | 632,143.3767 | 602,238.1 | 602,404.58 | 496,657.4933 | 634,639.1699 | 645,047.8394 | 604,246.2123 | 578,557.7031 | 566,107.6599 | 578,734.4218 | 595,266.2057 | 575,249.9921 | 580,381.6144 | 612,922.1044 | 565,580.5354 | 481,235.618 | 616,336.6884 | 641,494.434 | 600,129.9826 | 582,031.1216 | 7,245,282.7847 | 6,995,470.3781 |
| Revenue growth on the same month a year earlier | GROWTH AND RECURRING REVENUE | Revenue | -10.12% | -8.75% | -8.11% | -7.22% | -8.64% | -20.6% | -10.55% | -9.12% | -17.02% | -19.86% | -19.21% | -20.13% | 0.11% | -3.04% | -8.92% | -9.19% | -8.19% | 1.77% | -6.11% | -3.11% | -2.88% | -0.55% | -0.68% | 0.6% | ||
| Recurring revenue share (managed services and annual licences) | GROWTH AND RECURRING REVENUE | Revenue | 56.94% | 54.22% | 50.27% | 51.83% | 51.14% | 54.09% | 54.36% | 66.75% | 52.45% | 52.01% | 55.47% | 57.62% | 60.61% | 59.73% | 55.99% | 58.17% | 57.54% | 54.88% | 59.44% | 68.94% | 53.88% | 51.75% | 55.17% | 56.95% | 54.48% | 57.49% |
| Managed service fees (MRR) | GROWTH AND RECURRING REVENUE | Contracts | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,266.7012 | 233,740.5615 | 232,773.8197 | 231,297.656 | 239,469.9345 | 238,805.1718 | 229,494.9436 | 230,424.6147 | 229,877.65 | 231,779.0408 | 231,605.405 | 228,246.7092 | 228,519.4262 | 228,419.1838 | 227,702.1096 | 227,998.2147 | 2,770,094.6485 | 2,772,342.4039 |
| Annualised fees (MRR x 12) | GROWTH AND RECURRING REVENUE | Contracts | 2,667,375.36 | 2,679,225.72 | 2,758,216.2 | 2,773,414.32 | 2,733,453.96 | 2,739,831.96 | 2,824,735.68 | 2,843,937.72 | 2,847,200.4143 | 2,804,886.7385 | 2,793,285.8364 | 2,775,571.8723 | 2,873,639.2145 | 2,865,662.0611 | 2,753,939.3231 | 2,765,095.3763 | 2,758,531.7999 | 2,781,348.4897 | 2,779,264.8604 | 2,738,960.5108 | 2,742,233.1142 | 2,741,030.2054 | 2,732,425.315 | 2,735,978.576 | 2,775,571.8723 | 2,735,978.576 |
| Managed users | GROWTH AND RECURRING REVENUE | Contracts | 3,781 | 3,794 | 3,882 | 3,893 | 3,815 | 3,824 | 3,938 | 3,951 | 3,955.4595 | 3,896.8619 | 3,883.5152 | 3,864.1546 | 4,016.0029 | 4,007.3521 | 3,834.0148 | 3,851.8936 | 3,845.3459 | 3,874.8561 | 3,870.9046 | 3,813.1489 | 3,817.6173 | 3,814.6687 | 3,805.2531 | 3,809.7117 | 3,864.1546 | 3,809.7117 |
| Managed devices | GROWTH AND RECURRING REVENUE | Contracts | 1,174 | 1,174 | 1,204 | 1,206 | 1,189 | 1,190 | 1,223 | 1,225 | 1,225.693 | 1,208.3775 | 1,203.3026 | 1,194.982 | 1,238.2527 | 1,234.3024 | 1,198.8518 | 1,206.2266 | 1,204.1145 | 1,213.5698 | 1,211.2633 | 1,193.6217 | 1,194.3195 | 1,193.5676 | 1,187.0449 | 1,187.738 | 1,194.982 | 1,187.738 |
| Contracts billing | GROWTH AND RECURRING REVENUE | Contracts | 30 | 30 | 31 | 31 | 31 | 31 | 32 | 32 | 32 | 32 | 32 | 32 | 33 | 33 | 34 | 35 | 35 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 32 | 36 |
| Fees per user a month (devices included) | GROWTH AND RECURRING REVENUE | Contracts | 58.789 | 58.8479 | 59.2095 | 59.3675 | 59.7085 | 59.7069 | 59.7752 | 59.9835 | 59.9846 | 59.9817 | 59.9389 | 59.8572 | 59.6289 | 59.5918 | 59.8576 | 59.8211 | 59.7807 | 59.8162 | 59.8324 | 59.8578 | 59.8592 | 59.8792 | 59.8389 | 59.8466 | 59.5959 | 59.8009 |
| Net revenue retention, trailing 12 months | GROWTH AND RECURRING REVENUE | Contracts | 104.72% | 104.78% | 104.77% | 104.81% | 100.76% | 100.78% | 100.77% | 100.92% | 100.93% | 98.88% | 98.05% | 97.17% | 96.35% | 95.61% | 90.19% | 89.16% | 92.12% | 92.01% | 91.94% | 89.9% | 89.9% | 91.21% | 91.27% | 91.97% | 97.17% | 91.97% |
| Gross revenue retention, trailing 12 months | GROWTH AND RECURRING REVENUE | Contracts | 100% | 100% | 100% | 100% | 96.08% | 96.15% | 96.16% | 96.18% | 96.25% | 94.59% | 94.06% | 93.29% | 92.73% | 92.33% | 87.43% | 86.79% | 89.87% | 89.83% | 89.83% | 88.35% | 88.36% | 89.57% | 89.65% | 90.3% | 93.29% | 90.3% |
| Fees lost at renewal (a month) | GROWTH AND RECURRING REVENUE | Contracts | 0 | 0 | 0 | 0 | 8,250 | 0 | 0 | 0 | 0 | 3,402.6479 | 1,080.424 | 1,539.4021 | 1,204.3827 | 910.935 | 11,605.7923 | 1,417.5289 | 757.9201 | 0 | 583.5161 | 3,116.0541 | 0 | 479.3275 | 843.0488 | 0 | 14,272.474 | 20,918.5056 |
| First-year fees of new contracts | GROWTH AND RECURRING REVENUE | Contracts | 0 | 0 | 63,072 | 0 | 50,832 | 0 | 76,896 | 0 | 0 | 0 | 0 | 0 | 109,032 | 0 | 26,784 | 25,875 | 0 | 19,410 | 0 | 0 | 0 | 0 | 0 | 0 | 190,800 | 181,101 |
| Tickets | SERVICE DESK AND SLA | Service_Desk | 1,903 | 1,831 | 1,874 | 1,844 | 1,788 | 1,748 | 1,792 | 1,601 | 2,019.2337 | 1,934.2115 | 1,890.7069 | 1,716.5263 | 2,011.0576 | 1,930.7777 | 1,814.091 | 1,768.1682 | 1,783.3499 | 1,760.3966 | 1,740.11 | 1,587.9056 | 1,950.9483 | 1,895.3207 | 1,854.0041 | 1,693.8747 | 21,941.6784 | 21,790.0043 |
| Service desk utilisation | SERVICE DESK AND SLA | Service_Desk | 81.45% | 80.7% | 88.35% | 89.52% | 90.78% | 89.05% | 98.46% | 95.7% | 94.31% | 85% | 80.33% | 80.08% | 88.17% | 80.62% | 77.15% | 77.87% | 74.93% | 76.58% | 78.7% | 81.17% | 78.5% | 75.65% | 74.27% | 74.49% | 87.4% | 78.12% |
| SLA attainment | SERVICE DESK AND SLA | Service_Desk | 97.34% | 98.03% | 93.18% | 91.81% | 91.22% | 92.65% | 86.39% | 88.4% | 89.2% | 95.25% | 98.29% | 98.45% | 93.19% | 98.1% | 98.5% | 98.5% | 98.5% | 98.5% | 98.5% | 97.74% | 98.5% | 98.5% | 98.5% | 98.5% | 93.35% | 97.96% |
| SLA credits | SERVICE DESK AND SLA | Service_Desk | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,071.9185 | 876.0721 | 0 | 0 | 3,362.5808 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46,601.0005 | 3,362.5808 |
| SLA credits, % of fees | SERVICE DESK AND SLA | Service_Desk | 0% | 0% | 1.41% | 2.09% | 2.39% | 1.67% | 4.81% | 3.8% | 3.4% | 0.37% | 0% | 0% | 1.4% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 1.68% | 0.12% |
| Service desk FTE | SERVICE DESK AND SLA | Service_Desk | 39 | 39 | 38 | 37 | 36 | 36 | 37 | 37 | 36.6547 | 38.5626 | 39.9616 | 39.8452 | 41.2433 | 41.1381 | 41.7831 | 42.4318 | 42.3237 | 42.9712 | 42.8671 | 42.7633 | 42.665 | 42.5668 | 42.4689 | 42.3712 | 39.8452 | 42.3712 |
| FTE short (+) or spare (-) against the utilisation knee | SERVICE DESK AND SLA | Service_Desk | 0.7087 | 0.3426 | 3.9679 | 4.4034 | 4.8498 | 4.0745 | 8.5363 | 7.2598 | 6.5584 | 2.4099 | 0.165 | 0.0408 | 4.2103 | 0.3181 | -1.4862 | -1.1304 | -2.6808 | -1.8361 | -0.6984 | 0.6256 | -0.8011 | -2.3145 | -3.0439 | -2.916 | 3.6097 | -0.9794 |
| Tickets per service desk FTE | SERVICE DESK AND SLA | Service_Desk | 48.7949 | 46.9487 | 49.3158 | 49.8378 | 49.6667 | 48.5556 | 48.4324 | 43.2703 | 55.088 | 50.1578 | 47.313 | 43.0798 | 48.7608 | 46.9341 | 43.4169 | 41.6708 | 42.1359 | 40.9669 | 40.5931 | 37.1324 | 45.7272 | 44.5258 | 43.6556 | 39.9771 | 48.3717 | 42.958 |
| Gross margin % | MARGINS AND SERVICE LINES | PL | 24.97% | 25.84% | 28.38% | 29.36% | 27.4% | 18.83% | 27.82% | 28.05% | 27.71% | 25.5% | 25.02% | 26% | 25.02% | 24.64% | 23.64% | 24.26% | 23.03% | 24.31% | 24.54% | 24.87% | 22.96% | 23.28% | 23.27% | 24.63% | 26.26% | 24.01% |
| Gross margin %: managed services | MARGINS AND SERVICE LINES | Margins | 31.42% | 32.15% | 33.6% | 35.46% | 34.81% | 36.47% | 37% | 39.98% | 36.04% | 34.61% | 32.97% | 33.25% | 31.55% | 32.57% | 30.46% | 31.29% | 30.3% | 31.09% | 32.8% | 34.94% | 30.43% | 29.51% | 29.13% | 30.94% | 34.82% | 31.26% |
| Gross margin %: hardware (after rebates) | MARGINS AND SERVICE LINES | Margins | 14.22% | 14.22% | 14.21% | 13.97% | 14.16% | 14% | 13.99% | 13.7% | 13.07% | 12.86% | 12.73% | 12.75% | 12.76% | 12.92% | 12.85% | 12.78% | 12.84% | 12.91% | 11.5% | 11.5% | 11.5% | 12.86% | 12.73% | 12.75% | 13.67% | 12.52% |
| Gross margin %: licence resale | MARGINS AND SERVICE LINES | Margins | 50.68% | 38.77% | 41.47% | 39.42% | 39.32% | 40.3% | 38.76% | 34.72% | 38.68% | 39% | 39.63% | 41.27% | 48.73% | 36.18% | 38.62% | 36.82% | 36.84% | 37.9% | 36.53% | 33.05% | 38.68% | 39% | 39.63% | 41.27% | 40.17% | 38.63% |
| Gross margin %: projects | MARGINS AND SERVICE LINES | Margins | 7.12% | 24.72% | 40.05% | 38.44% | 29.2% | -145.79% | 21.66% | -25.52% | 29% | 19.53% | 15.36% | 17.5% | 7.97% | 8.69% | 14.06% | 13.77% | 8.12% | 19.39% | 10.37% | -23.71% | 15.87% | 21.19% | 17.09% | 16.81% | 17.29% | 12.31% |
| Distributor rebate, % of purchases | MARGINS AND SERVICE LINES | Rebates | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 0% | 0% | 0% | 1.5% | 1.5% | 1.5% | 1.5% | 1.16% |
| Project team utilisation | MARGINS AND SERVICE LINES | Projects | 45.56% | 56.82% | 73.06% | 75.43% | 65.99% | 66.26% | 65.46% | 40.14% | 86.42% | 70.17% | 66.18% | 64.05% | 49.3% | 52.88% | 56.73% | 57.21% | 52.67% | 61.9% | 55.64% | 39.87% | 58.7% | 62.8% | 59% | 59.68% | 64.63% | 55.53% |
| Signed project backlog | MARGINS AND SERVICE LINES | Projects | 722,040.12 | 653,398.69 | 561,728.53 | 465,677.23 | 377,028.12 | 347,174.51 | 276,050.8 | 237,279.03 | 151,478.1462 | 100,596.0731 | 49,714 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 0 |
| Cash at bank | CASH, DEBT AND PEOPLE | BS | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 497,113.6162 | 360,613.1305 | 276,107.2504 | 221,531.9938 | 298,491.1338 | 208,464.7586 | 420,966.3382 | 404,878.7582 | 476,778.7534 | 377,465.3634 | 247,111.1596 | 399,594.3108 | 534,688.9707 | 349,261.6634 | 259,332.0784 | 236,172.2048 | 221,531.9938 | 236,172.2048 |
| Minimum cash buffer (board policy) | CASH, DEBT AND PEOPLE | Assumptions | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 |
| Headroom over the buffer | CASH, DEBT AND PEOPLE | 681,285.7015 | 791,256.1735 | 885,102.2266 | 855,629.5897 | 751,241.0653 | 480,479.6874 | 319,668.2707 | 442,052.8828 | 97,113.6162 | -39,386.8695 | -123,892.7496 | -178,468.0062 | -101,508.8662 | -191,535.2414 | 20,966.3382 | 4,878.7582 | 76,778.7534 | -22,534.6366 | -152,888.8404 | -405.6892 | 134,688.9707 | -50,738.3366 | -140,667.9216 | -163,827.7952 | -178,468.0062 | -163,827.7952 | |
| Bank loan | CASH, DEBT AND PEOPLE | Financing | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | 500,000.08 | 900,000.04 | 500,000.08 |
| Net debt | CASH, DEBT AND PEOPLE | Financing | 185,380.9685 | 42,077.1665 | -85,102.2166 | -88,962.9097 | -17,907.7153 | 219,520.3326 | 346,998.4193 | 191,280.4772 | 502,886.4138 | 606,053.5695 | 657,226.1196 | 678,468.0462 | 568,175.5762 | 624,868.6214 | 379,033.7118 | 361,787.9618 | 256,554.6366 | 322,534.6966 | 419,555.5704 | 233,739.0892 | 65,311.0993 | 217,405.0766 | 274,001.3316 | 263,827.8752 | 678,468.0462 | 263,827.8752 |
| Net debt / EBITDA, last twelve months | CASH, DEBT AND PEOPLE | Financing | 0.1418 | 0.033 | -0.0681 | -0.0722 | -0.0149 | 0.2019 | 0.3313 | 0.1871 | 0.5193 | 0.6841 | 0.8196 | 0.948 | 0.81 | 0.9129 | 0.5955 | 0.6197 | 0.4752 | 0.5638 | 0.7752 | 0.4513 | 0.1363 | 0.4683 | 0.6058 | 0.595 | 0.948 | 0.595 |
| Debt service cover, last twelve months | CASH, DEBT AND PEOPLE | Financing | 2.3887 | 2.3276 | 2.2567 | 2.2245 | 2.2213 | 1.7387 | 1.5985 | 1.5492 | 1.379 | 1.1953 | 1.0088 | 0.7653 | 0.7252 | 0.6904 | 0.6069 | 0.4881 | 0.3907 | 0.698 | 0.7247 | 0.6734 | 0.9286 | 0.9038 | 0.8847 | 0.9617 | 0.7653 | 0.9617 |
| Debtor days | CASH, DEBT AND PEOPLE | Receivables | 40.8929 | 36.4222 | 37.7171 | 41.7719 | 39.2766 | 40.1042 | 40.964 | 37.2791 | 56.5384 | 60.9704 | 56.5988 | 56.0849 | 57.937 | 56.1651 | 49.347 | 54.6977 | 55.2079 | 56.2921 | 56.2123 | 52.1759 | 56.5416 | 61.508 | 55.3071 | 54.9638 | 56.0849 | 54.9638 |
| EBITDA | CASH, DEBT AND PEOPLE | PL | 45,992.7496 | 56,946.4873 | 76,787.6968 | 90,078.0713 | 69,717.8865 | 14,666.2618 | 71,880.7739 | 52,553.2371 | 79,371.9294 | 56,223.7198 | 49,064.9697 | 52,425.4472 | 31,771.4352 | 39,932.5716 | 28,837.245 | 37,343.0912 | 25,832.1807 | 46,807.3882 | 41,087.9849 | 29,256.0185 | 40,717.3204 | 41,200.6678 | 37,071.9143 | 43,523.8337 | 715,709.2303 | 443,381.6515 |
| EBITDA % of revenue | CASH, DEBT AND PEOPLE | PL | 8.13% | 9.54% | 11.75% | 14.22% | 11.03% | 2.44% | 11.93% | 10.58% | 12.51% | 8.72% | 8.12% | 9.06% | 5.61% | 6.9% | 4.84% | 6.49% | 4.45% | 7.64% | 7.26% | 6.08% | 6.61% | 6.42% | 6.18% | 7.48% | 9.88% | 6.34% |
| Free cash flow (before financing) | CASH, DEBT AND PEOPLE | CF | 164,619.0315 | 143,303.802 | 127,179.3831 | 3,860.6931 | 188,144.8056 | -136,628.0479 | -127,478.0867 | 155,717.9421 | -311,605.9367 | -103,167.1556 | -51,172.5502 | -21,241.9265 | 110,292.47 | -56,693.0452 | 245,834.9096 | 17,245.75 | 105,233.3252 | -65,980.0599 | -97,020.8738 | 185,816.4812 | 168,427.9899 | -152,093.9773 | -56,596.255 | 10,173.4563 | 31,531.9538 | 414,640.1709 |
| Headcount | CASH, DEBT AND PEOPLE | People | 68 | 69 | 69 | 68 | 67 | 67 | 68 | 68 | 67.4433 | 69.1415 | 70.4909 | 70.324 | 73.1708 | 73.0019 | 73.5834 | 74.1782 | 74.0163 | 74.61 | 74.4522 | 74.2948 | 74.1429 | 73.9914 | 73.8401 | 73.6892 | 70.324 | 73.6892 |
| Revenue per employee, annualised | CASH, DEBT AND PEOPLE | 99,791.9753 | 103,806.8846 | 113,658.7925 | 111,782.26 | 113,219.7093 | 107,863.5403 | 106,306.6906 | 87,645.44 | 112,919.538 | 111,952.6719 | 102,863.6758 | 98,724.3071 | 92,841.5616 | 95,131.922 | 97,076.1516 | 93,059.6257 | 94,095.1736 | 98,580.1866 | 91,158.684 | 77,728.5741 | 99,753.798 | 104,038.2203 | 97,529.0672 | 94,781.5004 | 98,724.3071 | 94,781.5004 |
| Code | Customer (fictional) | Country | Sector | VAT on invoices | First contract start (month) | Start month no. | Status | Users at 31-Dec-25 (live) or at signature | Devices at 31-Dec-25 or at signature | Price per user a month (31-Dec-25 or signature) | Price per device a month | User growth a month | Payment terms (days) | SLA tier | Probability Base (renewal or win) | Probability Downside | Probability Upside | Probability selected | Effective start month no. | Anniversary month | Next renewal after the last actual month | Onboarding fee (starts from Jan-25) | Expected onboarding fee (pipeline x win probability) | Users at the last actual month | Devices at the last actual month | Fees at the last actual month | Managed services revenue FY2026 (fees and licences) | Managed services revenue FY2027 | Share of FY2026 managed services revenue | Delivery cost allocated FY2026 (desk hours, tooling, licences) | Contribution FY2026 | Contribution % FY2026 | Contract note (fictional) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C01 | Brevanor Têxteis, S.A. | PT | Textiles | 0.23 | 2021-03-31 | -57 | Live | 420 | 95 | 38.5 | 64 | 0.002 | 45 | Premium | 0.9 | 0.5 | 0.95 | 0.5 | -57 | March | 2027-03-31 | 0 | 0 | 425 | 96 | 23,091.67 | 364,111.8769 | 212,764.8515 | 0.1017 | 231,039.3782 | 133,072.4987 | 36.55% | Largest contract: 420 users across two plants and the head office. Renews in March 2027; a regional competitor has approached the IT director. ERP infrastructure project J01 overran (Projects). |
| C02 | Clínicas Almedra, Lda | PT | Healthcare | 0.23 | 2022-04-30 | -44 | Live | 260 | 70 | 44 | 58 | 0.004 | 30 | Premium | 0.94 | 0.85 | 0.97 | 0.85 | -44 | April | 2028-04-30 | 0 | 0 | 269 | 70 | 16,309.3 | 248,763.951 | 260,745.6177 | 0.0695 | 151,034.2431 | 97,729.7079 | 39.29% | |
| C03 | Solvinha Calçado, Lda | PT | Footwear | 0.23 | 2023-10-31 | -26 | Live | 150 | 38 | 40 | 55 | 0.001 | 45 | Standard | 0.92 | 0.8 | 0.95 | 0.8 | -26 | October | 2026-10-31 | 0 | 0 | 153 | 38 | 8,210 | 122,928.7713 | 103,134.6816 | 0.0343 | 80,934.7395 | 41,994.0318 | 34.16% | |
| C04 | Valcorra Advogados | PT | Legal services | 0.23 | 2020-03-31 | -69 | Live | 95 | 22 | 52 | 72 | 0.002 | 30 | Premium | 0.95 | 0.88 | 0.97 | 0.88 | -69 | March | 2029-03-31 | 0 | 0 | 96 | 22 | 6,746.98 | 100,497.1246 | 103,631.6093 | 0.0281 | 52,384.0168 | 48,113.1078 | 47.88% | |
| C05 | Colégios Maravel | PT | Education | 0.23 | 2021-08-31 | -52 | Live | 310 | 85 | 29 | 48 | 0.002 | 30 | Standard | 0.93 | 0.85 | 0.96 | 0.85 | -52 | August | 2027-08-31 | 0 | 0 | 314 | 87 | 13,627.33 | 225,779.4462 | 216,599.9224 | 0.0631 | 179,849.7605 | 45,929.6857 | 20.34% | |
| C06 | Metalúrgica Vaurinho, Lda | PT | Metalworking | 0.23 | 2023-01-31 | -35 | Live | 120 | 40 | 41 | 60 | 0.001 | 45 | Standard | 0.93 | 0.85 | 0.96 | 0.85 | -35 | January | 2029-01-31 | 0 | 0 | 122 | 40 | 7,594.45 | 116,515.2437 | 119,322.0977 | 0.0325 | 73,897.9356 | 42,617.3081 | 36.58% | |
| C07 | Quintas Delvara, S.A. | PT | Wine exports | 0.23 | 2024-02-29 | -22 | Live | 85 | 30 | 45 | 62 | 0.003 | 30 | Standard | 0.93 | 0.85 | 0.96 | 0.85 | -22 | February | 2027-02-28 | 0 | 0 | 88 | 31 | 6,034.93 | 90,012.1326 | 77,843.2556 | 0.0251 | 54,239.5848 | 35,772.5478 | 39.74% | |
| C08 | Farmácias Oliveda | PT | Pharmacy retail | 0.23 | 2022-01-31 | -47 | Live | 180 | 90 | 39 | 45 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.86 | -47 | January | 2028-01-31 | 0 | 0 | 185 | 91 | 11,604.06 | 177,180.9927 | 183,650.1001 | 0.0495 | 130,033.3318 | 47,147.6609 | 26.61% | |
| C09 | Moldivel Plásticos, S.A. | PT | Plastics | 0.23 | 2023-07-31 | -29 | Live | 140 | 45 | 40 | 63 | 0.002 | 60 | Standard | 0.93 | 0.85 | 0.96 | 0.85 | -29 | July | 2029-07-31 | 0 | 0 | 143 | 45 | 8,777.43 | 133,140.5957 | 138,178.6662 | 0.0372 | 85,117.7347 | 48,022.861 | 36.07% | |
| C10 | Pravel Contabilidade, Lda | PT | Accounting | 0.23 | 2024-10-31 | -14 | Live | 60 | 12 | 50 | 70 | 0.002 | 30 | Standard | 0.95 | 0.88 | 0.97 | 0.88 | -14 | October | 2027-10-31 | 0 | 0 | 61 | 12 | 3,890 | 59,322.6665 | 58,884.3366 | 0.0166 | 32,005.2669 | 27,317.3996 | 46.05% | |
| C11 | Hotéis Alvenosa | PT | Hotels | 0.23 | 2022-08-31 | -40 | Live | 130 | 60 | 37 | 52 | 0.002 | 30 | Standard | 0.93 | 0.85 | 0.96 | 0.85 | -40 | August | 2028-08-31 | 0 | 0 | 132 | 60 | 8,212.1 | 124,351.7354 | 128,734.3864 | 0.0347 | 89,932.6726 | 34,419.0628 | 27.68% | |
| C12 | Cerâmicas Lovredo, S.A. | PT | Ceramics | 0.23 | 2023-11-30 | -25 | Live | 110 | 36 | 41 | 61 | 0.001 | 45 | Standard | 0.93 | 0.84 | 0.96 | 0.84 | -25 | November | 2026-11-30 | 0 | 0 | 111 | 36 | 6,747 | 100,797.0422 | 86,219.4618 | 0.0282 | 65,162.8639 | 35,634.1783 | 35.35% | |
| C13 | Castelvi Imobiliária | PT | Real estate | 0.23 | 2025-03-31 | -9 | Live | 70 | 15 | 47 | 66 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.86 | -9 | March | 2028-03-31 | 3,150 | 3,150 | 71 | 15 | 4,439.5 | 67,782.6874 | 70,233.0845 | 0.0189 | 37,986.458 | 29,796.2294 | 43.96% | |
| C14 | Agrícola Vinhedal | PT | Agrifood | 0.23 | 2023-05-31 | -31 | Live | 90 | 28 | 39 | 58 | 0.002 | 45 | Standard | 0.93 | 0.85 | 0.96 | 0.85 | -31 | May | 2029-05-31 | 0 | 0 | 92 | 28 | 5,347.51 | 82,650.1316 | 85,413.6751 | 0.0231 | 54,344.1421 | 28,305.9894 | 34.25% | |
| C15 | Engenharia Morvelo, Lda | PT | Engineering | 0.23 | 2024-05-31 | -19 | Live | 75 | 20 | 49 | 70 | 0.003 | 30 | Premium | 0.94 | 0.86 | 0.97 | 0.86 | -19 | May | 2027-05-31 | 0 | 0 | 78 | 20 | 5,357.77 | 79,420.4199 | 73,206.5153 | 0.0222 | 43,599.2032 | 35,821.2167 | 45.1% | |
| C16 | Cooperativa Leiteira Bravanha | PT | Dairy | 0.23 | 2020-10-31 | -62 | Live | 160 | 52 | 36 | 57 | 0.001 | 60 | Standard | 0.92 | 0.8 | 0.95 | 0.8 | -62 | October | 2026-10-31 | 0 | 0 | 162 | 52 | 8,796 | 131,219.7476 | 110,145.6274 | 0.0367 | 92,380.6846 | 38,839.063 | 29.6% | |
| C17 | Laboratórios Cendral, Lda | PT | Clinical laboratories | 0.23 | 2024-08-31 | -16 | Live | 115 | 42 | 46 | 68 | 0.004 | 30 | Premium | 0.95 | 0.88 | 0.97 | 0.88 | -16 | August | 2027-08-31 | 0 | 0 | 119 | 43 | 8,616.35 | 126,103.9544 | 123,384.3886 | 0.0352 | 74,174.5531 | 51,929.4013 | 41.18% | |
| C18 | Mediavir Seguros | PT | Insurance broking | 0.23 | 2025-06-30 | -6 | Live | 55 | 10 | 48 | 65 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.86 | -6 | June | 2028-06-30 | 2,475 | 2,475 | 56 | 10 | 3,424.79 | 52,110.5878 | 54,304.5332 | 0.0146 | 28,764.1445 | 23,346.4433 | 44.8% | |
| C19 | Construtora Arvedo, S.A. | PT | Construction | 0.23 | 2023-02-28 | -34 | Live | 145 | 38 | 38 | 60 | 0.002 | 60 | Standard | 0.92 | 0.82 | 0.95 | 0.82 | -34 | February | 2029-02-28 | 0 | 0 | 147 | 38 | 8,070.52 | 126,921.1306 | 131,058.2537 | 0.0355 | 82,688.97 | 44,232.1607 | 34.85% | |
| C20 | Distribuidora Pellano, Lda | PT | Wholesale | 0.23 | 2024-01-31 | -23 | Live | 125 | 40 | 39 | 58 | 0.002 | 45 | Standard | 0.93 | 0.84 | 0.96 | 0.84 | -23 | January | 2027-01-31 | 0 | 0 | 128 | 40 | 7,502.11 | 116,309.2195 | 96,966.4451 | 0.0325 | 76,136.7068 | 40,172.5127 | 34.54% | |
| C21 | Gráfica Tornavel, Lda | PT | Printing | 0.23 | 2022-07-31 | -41 | Live | 65 | 24 | 42 | 60 | 0 | 45 | Standard | 0.92 | 0.82 | 0.95 | 0.82 | -41 | July | 2028-07-31 | 0 | 0 | 65 | 24 | 4,278.42 | 64,286.0937 | 65,725.3428 | 0.018 | 41,037.5338 | 23,248.5599 | 36.16% | |
| C22 | Óticas Lumarel | PT | Optical retail | 0.23 | 2024-11-30 | -13 | Live | 95 | 50 | 37 | 44 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.86 | -13 | November | 2027-11-30 | 0 | 0 | 97 | 51 | 5,833 | 89,999.6584 | 90,619.8723 | 0.0251 | 70,048.1332 | 19,951.5252 | 22.17% | |
| C23 | Salmeira Arquitetos | PT | Architecture | 0.23 | 2025-09-30 | -3 | Live | 40 | 9 | 52 | 72 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.86 | -3 | September | 2028-09-30 | 1,800 | 1,800 | 41 | 9 | 2,780 | 41,942.3596 | 43,478.1466 | 0.0117 | 22,097.1723 | 19,845.1873 | 47.32% | |
| C24 | Traslovia Transportes, Lda | PT | Logistics | 0.23 | 2023-05-31 | -31 | Not renewed Apr-26 | 150 | 40 | 39 | 60 | 0.001 | 45 | Standard | 0 | 0 | 0 | 0 | -31 | May | 2029-05-31 | 0 | 0 | 0 | 0 | 0 | 43,570.9941 | 0 | 0.0122 | 28,535.6524 | 15,035.3417 | 34.51% | Not renewed at the April 2026 term end: moved to a competitor offering a lower price per user with a remote-only service desk. |
| C25 | Conservas Brelmar, S.L. | ES | Seafood canning | 0 | 2024-04-30 | -20 | Live | 140 | 45 | 43 | 64 | 0.002 | 60 | Premium | 0.93 | 0.85 | 0.96 | 0.85 | -20 | April | 2027-04-30 | 0 | 0 | 143 | 47 | 9,395.08 | 140,791.6602 | 125,945.3183 | 0.0393 | 86,026.205 | 54,765.4553 | 38.9% | |
| C26 | Talleres Brañoso, S.L. | ES | Industrial engineering | 0 | 2023-08-31 | -28 | Live | 90 | 34 | 44 | 66 | 0.002 | 60 | Standard | 0.93 | 0.85 | 0.96 | 0.85 | -28 | August | 2029-08-31 | 0 | 0 | 92 | 34 | 6,455.59 | 95,019.757 | 98,651.8638 | 0.0265 | 57,802.2439 | 37,217.513 | 39.17% | Final milestone of project J11 (ERP hosting move) invoiced in June and disputed pending the performance acceptance test. |
| C27 | Clínica Veigadal, S.L. | ES | Healthcare | 0 | 2025-02-28 | -10 | Live | 70 | 18 | 47 | 64 | 0.003 | 45 | Standard | 0.94 | 0.86 | 0.97 | 0.86 | -10 | February | 2028-02-29 | 3,150 | 3,150 | 73 | 18 | 4,702.16 | 70,806.6806 | 73,967.6897 | 0.0198 | 40,278.1396 | 30,528.541 | 43.12% | |
| C28 | Maderas Ouriñal, S.L. | ES | Timber | 0 | 2022-10-31 | -38 | Live | 80 | 30 | 41 | 59 | 0.001 | 60 | Standard | 0.92 | 0.82 | 0.95 | 0.82 | -38 | October | 2028-10-31 | 0 | 0 | 80 | 30 | 5,050 | 77,880.5061 | 79,328.5924 | 0.0218 | 50,974.1687 | 26,906.3374 | 34.55% | |
| C29 | Pesqueras Morazal, S.L. | ES | Fishing | 0 | 2023-12-31 | -24 | Live | 95 | 36 | 42 | 60 | 0.001 | 60 | Standard | 0.88 | 0.75 | 0.93 | 0.75 | -24 | December | 2026-12-31 | 0 | 0 | 95 | 36 | 6,150 | 91,524.6665 | 69,096.0398 | 0.0256 | 59,259.3323 | 32,265.3342 | 35.25% | Renews December 2026; the owner has asked for a price reduction after two SLA breaches in the summer. |
| C30 | Bodegas Quenlla, S.L. | ES | Winery | 0 | 2024-07-31 | -17 | Live | 55 | 20 | 45 | 62 | 0.002 | 45 | Standard | 0.93 | 0.85 | 0.96 | 0.85 | -17 | July | 2027-07-31 | 0 | 0 | 56 | 20 | 3,857.76 | 57,336.8253 | 53,749.652 | 0.016 | 34,902.3306 | 22,434.4947 | 39.13% | |
| C31 | Ferroval Automação, Lda | PT | Industrial automation | 0.23 | 2026-03-31 | 3 | Won in 2026 | 80 | 28 | 44 | 62 | 0.004 | 30 | Standard | 0.95 | 0.88 | 0.97 | 0.88 | 3 | March | 2029-03-31 | 3,600 | 3,600 | 81 | 29 | 5,362 | 67,423.3341 | 84,114.8446 | 0.0188 | 41,908.649 | 25,514.6851 | 37.84% | |
| C32 | Clínica Dentária Rosmel | PT | Dental clinics | 0.23 | 2026-05-31 | 5 | Won in 2026 | 66 | 20 | 46 | 60 | 0.004 | 30 | Standard | 0.95 | 0.88 | 0.97 | 0.88 | 5 | May | 2029-05-31 | 2,970 | 2,970 | 67 | 20 | 4,282 | 43,568.9176 | 67,582.2638 | 0.0122 | 26,278.4567 | 17,290.4609 | 39.69% | |
| C33 | Mobiliário Tarvela, Lda | PT | Furniture | 0.23 | 2026-07-31 | 7 | Won in 2026 | 108 | 33 | 41 | 60 | 0.003 | 45 | Standard | 0.95 | 0.88 | 0.97 | 0.88 | 7 | July | 2029-07-31 | 4,860 | 4,860 | 109 | 33 | 6,449 | 50,145.4734 | 102,866.0814 | 0.014 | 32,252.6075 | 17,892.8659 | 35.68% | |
| P01 | Grupo Hospitalar Venara | PT | Hospitals | 0.23 | 2026-11-30 | 11 | Pipeline | 480 | 140 | 36 | 62 | 0.003 | 60 | Premium | 0.55 | 0.35 | 0.7 | 0.35 | 13 | November | 2026-11-30 | 21,600 | 7,560 | 0 | 0 | 0 | 0 | 146,267.182 | 0 | 0 | 0 | 0% | Hospital group tender: shortlisted with two competitors; decision expected in October for a November start. |
| P02 | Exportadora Linhelo, S.A. | PT | Food exports | 0.23 | 2027-01-31 | 13 | Pipeline | 120 | 40 | 42 | 60 | 0.003 | 45 | Standard | 0.5 | 0.3 | 0.65 | 0.3 | 15 | January | 2027-01-31 | 5,400 | 1,620 | 0 | 0 | 0 | 0 | 28,951.7959 | 0 | 0 | 0 | 0% | |
| P03 | Logística Crastova, Lda | PT | Logistics | 0.23 | 2027-02-28 | 14 | Pipeline | 140 | 55 | 40 | 55 | 0.002 | 45 | Standard | 0.45 | 0.25 | 0.6 | 0.25 | 16 | February | 2027-02-28 | 6,300 | 1,575 | 0 | 0 | 0 | 0 | 25,146.6044 | 0 | 0 | 0 | 0% | |
| P04 | Conservas Galmira, S.L. | ES | Seafood canning | 0 | 2027-04-30 | 16 | Pipeline | 100 | 35 | 43 | 62 | 0.002 | 60 | Standard | 0.4 | 0.25 | 0.55 | 0.25 | 18 | April | 2027-04-30 | 4,500 | 1,125 | 0 | 0 | 0 | 0 | 14,501.1082 | 0 | 0 | 0 | 0% | |
| TOTAL | 3,775 | 1,174 | 59,805 | 33,885 | 3,951 | 1,225 | 236,994.81 | 3,580,216.3841 | 3,604,413.9079 | 1 | 2,307,107.0155 | 1,273,109.3687 | 35.56% |
| Code | Contract | Customer (fictional) | Project | Type | Fee (fixed fee) or rate per hour (T&M) | Start | Planned completion | Start no. | End no. | Own hours at completion (estimate) | Subcontract hours at completion | Own hours to 31-Dec-25 | Subcontract hours to 31-Dec-25 | Revenue to 31-Dec-25 | Billed to 31-Dec-25 | Downside overrun applies (1) | Country | Own hours to the last actual month | Subcontract hours to the last actual month | Own hours at completion, forecast (incl. scenario overrun) | Subcontract hours at completion, forecast | Progress at the last actual month | Revenue FY2026 | Billed FY2026 | Billed less revenue at the last actual month (+ ahead) | Onerous provision at the last actual month | Cost at completion (standard) | Margin at completion (standard cost) | Margin % | Note (fictional) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| J01 | C01 | Brevanor Têxteis, S.A. | ERP infrastructure and cloud migration | FF | 158,000 | 2025-11-30 | 2026-11-30 | -1 | 11 | 2,150 | 1,350 | 175 | 0 | 13,487.8 | 47,400 | 1 | PT | 1,415 | 980 | 2,297 | 1,424 | 0.6843 | 144,512.2 | 110,600 | 2,482.86 | 2,507.14 | 185,678 | -27,678 | -17.52% | Estimate at completion raised in June from 1,900 own + 150 subcontract hours to 2,150 + 1,350: the ERP data migration needed a specialist subcontractor. Loss-making at completion: provision under IAS 37. |
| J02 | C02 | Clínicas Almedra, Lda | Clinic network and Wi-Fi refresh | FF | 64,000 | 2026-01-31 | 2026-04-30 | 1 | 4 | 780 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 780 | 0 | 780 | 0 | 1 | 64,000 | 64,000 | 0 | 0 | 23,400 | 40,600 | 63.44% | |
| J03 | C12 | Cerâmicas Lovredo, S.A. | Server virtualisation | FF | 52,000 | 2026-03-31 | 2026-07-31 | 3 | 7 | 640 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 640 | 0 | 640 | 0 | 1 | 52,000 | 52,000 | 0 | 0 | 19,200 | 32,800 | 63.08% | |
| J04 | C25 | Conservas Brelmar, S.L. | Security hardening and SOC onboarding | TM | 68 | 2026-02-28 | 2026-09-30 | 2 | 9 | 880 | 0 | 0 | 0 | 0 | 0 | 0 | ES | 727 | 0 | 880 | 0 | 0.8261 | 59,840 | 59,840 | 0 | 0 | 26,400 | 33,440 | 55.88% | |
| J05 | C19 | Construtora Arvedo, S.A. | Construction site connectivity | TM | 60 | 2026-01-31 | 2026-12-31 | 1 | 12 | 1,680 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 1,074 | 0 | 1,680 | 0 | 0.6393 | 100,800 | 100,800 | 0 | 0 | 50,400 | 50,400 | 50% | |
| J06 | C31 | Ferroval Automação, Lda | Onboarding and migration | FF | 32,000 | 2026-03-31 | 2026-05-31 | 3 | 5 | 400 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 410 | 0 | 400 | 0 | 1 | 32,000 | 32,000 | 0 | 0 | 12,000 | 20,000 | 62.5% | |
| J07 | C07 | Quintas Delvara, S.A. | Productivity suite tenant migration | FF | 38,000 | 2026-06-30 | 2026-09-30 | 6 | 9 | 470 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 310 | 0 | 470 | 0 | 0.6596 | 38,000 | 38,000 | 1,536.17 | 0 | 14,100 | 23,900 | 62.89% | |
| J08 | C08 | Farmácias Oliveda | Store network upgrade (signed Aug-26) | FF | 88,000 | 2026-09-30 | 2027-01-31 | 9 | 13 | 1,100 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 0 | 0 | 1,100 | 0 | 0 | 70,400 | 61,600 | 0 | 0 | 33,000 | 55,000 | 62.5% | Signed in August; starts in September. |
| J09 | C17 | Laboratórios Cendral, Lda | Backup and disaster recovery | TM | 64 | 2026-01-31 | 2026-12-31 | 1 | 12 | 960 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 621 | 0 | 960 | 0 | 0.6469 | 61,440 | 61,440 | 0 | 0 | 28,800 | 32,640 | 53.12% | |
| J10 | C33 | Mobiliário Tarvela, Lda | Onboarding and migration | FF | 36,000 | 2026-07-31 | 2026-09-30 | 7 | 9 | 450 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 225 | 0 | 450 | 0 | 0.5 | 36,000 | 36,000 | 7,200 | 0 | 13,500 | 22,500 | 62.5% | |
| J11 | C26 | Talleres Brañoso, S.L. | ERP hosting move | FF | 72,000 | 2026-01-31 | 2026-06-30 | 1 | 6 | 880 | 0 | 0 | 0 | 0 | 0 | 0 | ES | 880 | 0 | 880 | 0 | 1 | 72,000 | 72,000 | 0 | 0 | 26,400 | 45,600 | 63.33% | Final milestone invoiced in June and disputed pending the performance acceptance test. |
| J12 | C32 | Clínica Dentária Rosmel | Onboarding and migration | FF | 24,000 | 2026-05-31 | 2026-07-31 | 5 | 7 | 300 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 305 | 0 | 300 | 0 | 1 | 24,000 | 24,000 | 0 | 0 | 9,000 | 15,000 | 62.5% | |
| TOTAL | 175 | 0 | 13,487.8 | 47,400 | 7,387 | 980 | 754,992.2 | 712,280 | 11,219.03 | 2,507.14 |
| Measure | Jan-25 | Feb-25 | Mar-25 | Apr-25 | May-25 | Jun-25 | Jul-25 | Aug-25 | Sep-25 | Oct-25 | Nov-25 | Dec-25 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | 198,180.03 | 203,256.83 | 208,618.07 | 209,706.43 | 210,578.13 | 214,324.84 | 214,973.11 | 216,129.73 | 219,101.62 | 220,060.95 | 220,925.5 | 221,378 | 2,557,233.24 |
| Managed services: SLA credits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,964.77 | 0 | 0 | 0 | 0 | -1,964.77 |
| Managed services: onboarding fees recognised | 0 | 87.5 | 175 | 175 | 175 | 243.75 | 243.75 | 243.75 | 293.75 | 293.75 | 293.75 | 293.75 | 2,518.75 |
| Licences bundled in managed contracts | 58,205.39 | 59,509.02 | 60,809.83 | 60,942.71 | 61,001.75 | 62,144.03 | 62,372.31 | 62,428.91 | 63,080.5 | 63,236.17 | 63,345.48 | 63,494.89 | 740,570.99 |
| Annual licences (recognised over 12 months) | 31,416.67 | 31,500 | 31,583.33 | 31,666.67 | 31,666.67 | 31,750 | 31,833.33 | 31,833.33 | 32,000 | 32,083.33 | 32,166.67 | 32,333.33 | 381,833.33 |
| Licences resold as agent: commission and incentive | 7,360.6 | 7,785.25 | 10,050.05 | 8,209.9 | 8,493 | 9,059.2 | 8,068.35 | 5,803.55 | 9,342.3 | 10,191.6 | 11,040.9 | 13,588.8 | 108,993.5 |
| Hardware | 238,000 | 251,000 | 292,000 | 268,000 | 281,000 | 329,000 | 262,000 | 171,000 | 334,000 | 361,000 | 302,000 | 279,000 | 3,368,000 |
| Projects | 96,000 | 101,000 | 108,000 | 104,000 | 99,000 | 112,000 | 94,000 | 61,000 | 107,000 | 118,000 | 118,165.85 | 114,321.95 | 1,232,487.8 |
| REVENUE | 629,162.69 | 654,138.6 | 711,236.28 | 682,700.71 | 691,914.55 | 758,521.82 | 673,490.85 | 546,474.5 | 764,818.17 | 804,865.8 | 747,938.15 | 724,410.72 | 8,389,672.84 |
| Hardware cost net of distributor rebates | 201,965.16 | 211,947.57 | 247,043.65 | 226,994.81 | 237,714.51 | 277,858.61 | 222,470.82 | 145,737.01 | 281,100.67 | 305,317.64 | 255,945.19 | 236,780.25 | 2,850,875.89 |
| Licence cost net of vendor incentives | 66,261.34 | 72,504.53 | 73,383.62 | 73,474.32 | 73,891.95 | 74,721.38 | 74,854.67 | 75,319.88 | 75,679.74 | 75,808.38 | 76,112.51 | 75,932.92 | 887,945.24 |
| Service tooling (EUR) | 20,475.95 | 20,702.78 | 20,263.55 | 19,567.52 | 19,489.64 | 19,329.54 | 19,082.25 | 19,180.23 | 19,184.06 | 19,376.08 | 19,533.18 | 19,311.67 | 235,496.45 |
| Colocation and backup storage | 8,795.4 | 8,810.7 | 8,828.7 | 8,830.5 | 8,830.5 | 8,843.1 | 8,843.1 | 8,843.1 | 8,853 | 8,853.9 | 8,855.7 | 8,856.6 | 106,044.3 |
| Field vans | 5,491.35 | 5,707.62 | 5,570.57 | 5,739.64 | 5,436.25 | 5,531.08 | 5,431.76 | 5,484.11 | 5,443.49 | 5,449.36 | 5,706.64 | 5,574.8 | 66,566.67 |
| Subcontractors | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 46,800 |
| Service delivery payroll | 107,133.9 | 106,242.93 | 106,242.93 | 102,679.05 | 105,351.96 | 102,679.05 | 98,224.2 | 91,096.43 | 103,570.02 | 106,242.93 | 107,133.9 | 102,679.05 | 1,239,276.35 |
| Project team payroll | 42,618.03 | 42,264.83 | 42,264.83 | 40,852.05 | 41,911.64 | 40,852.05 | 39,086.07 | 36,260.5 | 41,205.24 | 42,264.83 | 42,618.03 | 40,852.05 | 493,050.15 |
| Cost of revenue | 456,641.13 | 472,080.96 | 507,497.85 | 482,037.89 | 496,526.45 | 533,714.81 | 471,892.87 | 385,821.26 | 538,936.22 | 567,213.12 | 519,805.15 | 493,887.34 | 5,926,055.05 |
| Gross profit | 172,521.56 | 182,057.64 | 203,738.43 | 200,662.82 | 195,388.1 | 224,807.01 | 201,597.98 | 160,653.24 | 225,881.95 | 237,652.68 | 228,133 | 230,523.38 | 2,463,617.79 |
| Sales and marketing payroll incl. commissions | 23,060.92 | 22,943.23 | 23,144.15 | 22,300.91 | 22,908.83 | 22,599.84 | 21,364.49 | 19,467.32 | 22,805.75 | 23,482.28 | 23,374.55 | 22,354.82 | 269,807.09 |
| General and administrative payroll | 33,500.69 | 33,223.18 | 33,223.18 | 32,113.13 | 32,945.67 | 32,113.13 | 30,725.57 | 28,505.47 | 32,390.64 | 33,223.18 | 33,500.69 | 32,113.13 | 387,577.66 |
| Overheads | 37,104.05 | 37,353.19 | 44,927.43 | 37,690.59 | 43,553.57 | 37,420.87 | 37,536.59 | 35,134.83 | 37,479.53 | 42,199.61 | 38,143.74 | 37,467.66 | 466,011.66 |
| EBITDA | 78,855.9 | 88,538.04 | 102,443.67 | 108,558.19 | 95,980.03 | 132,673.17 | 111,971.33 | 77,545.62 | 133,206.03 | 138,747.61 | 133,114.02 | 138,587.77 | 1,340,221.38 |
| Depreciation and amortisation | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 111,200.04 |
| Interest on the bank loan | 6,304.17 | 6,180.56 | 6,056.94 | 5,933.33 | 5,809.72 | 5,686.11 | 5,562.5 | 5,438.89 | 5,315.28 | 5,191.67 | 5,068.06 | 4,944.44 | 67,491.67 |
| Exchange differences | 0 | 116.02 | 754.78 | 735.44 | 111.04 | 402.79 | 266.51 | -75.47 | 165.12 | -166.59 | -115.63 | 243.58 | 2,437.59 |
| Profit before tax | 63,285.06 | 73,206.83 | 87,874.84 | 94,093.63 | 81,014.68 | 118,123.18 | 97,408.67 | 62,764.59 | 118,789.2 | 124,122.68 | 118,663.66 | 124,620.24 | 1,163,967.26 |
| Managed users at month end | 3,460 | 3,540 | 3,613 | 3,623 | 3,633 | 3,695 | 3,701 | 3,708 | 3,751 | 3,758 | 3,769 | 3,775 | |
| Managed devices at month end | 1,106 | 1,123 | 1,143 | 1,145 | 1,145 | 1,159 | 1,159 | 1,159 | 1,170 | 1,171 | 1,173 | 1,174 | |
| Managed service fees a month (MRR) | 198,180.03 | 203,256.83 | 208,618.07 | 209,706.43 | 210,578.13 | 214,324.84 | 214,973.11 | 216,129.73 | 219,101.62 | 220,060.95 | 220,925.5 | 221,378 | 2,557,233.24 |
| Tickets | 1,780 | 1,738 | 1,695 | 1,654 | 1,705 | 1,698 | 1,706 | 1,550 | 1,883 | 1,841 | 1,890 | 1,671 | 20,811 |
| Service desk utilisation | 0.76 | 0.77 | 0.76 | 0.78 | 0.77 | 0.8 | 0.84 | 0.87 | 0.84 | 0.81 | 0.81 | 0.8 | 0.8008 |
| SLA attainment | 0.98 | 0.98 | 0.98 | 0.98 | 0.98 | 0.98 | 0.96 | 0.94 | 0.96 | 0.98 | 0.98 | 0.98 | 0.9733 |
| SLA credits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,964.77 | 0 | 0 | 0 | 0 | 1,964.77 |
| Service desk FTE | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | |
| Headcount | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | |
| Annual licence billings | 228,000 | 12,000 | 18,000 | 14,000 | 9,000 | 16,000 | 11,000 | 6,000 | 22,000 | 15,000 | 12,000 | 25,000 | 388,000 |
| Licences resold as agent: gross billing | 52,000 | 55,000 | 71,000 | 58,000 | 60,000 | 64,000 | 57,000 | 41,000 | 66,000 | 72,000 | 78,000 | 96,000 | 770,000 |
| Hardware purchases | 184,753.5 | 236,817.27 | 256,493.92 | 225,167.71 | 247,739.63 | 308,535.43 | 197,807.35 | 107,639.59 | 352,453.12 | 321,214.25 | 247,632.34 | 215,669.89 | 2,901,924 |
| Rebates and incentives accrued | 12,669.48 | 9,164.74 | 10,247.72 | 9,026.23 | 9,539.02 | 11,353.35 | 8,283.93 | 5,501.8 | 12,669.19 | 11,885 | 10,141.68 | 10,116.62 | 120,598.76 |
| Corporate income tax paid (FY2024 balance in May, payments on account in July, September and December) | 0 | 0 | 0 | 0 | 21,450 | 0 | 47,500 | 0 | 47,500 | 0 | 0 | 47,500 | 163,950 |
| Capex | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 31,200 |
| Loan principal repaid | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 399,999.96 |
| contract | values | fy2025 |
|---|---|---|
| C01 Brevanor Têxteis, S.A. | [21519.52, 21519.52, 22096, 22211.5, 22288.5, 22442.5, 22404, 22365.5, 22365.5, 22327, 22365.5, 22250] | 266,155.04 |
| C02 Clínicas Almedra, Lda | [14450.74, 14579.52, 14622.44, 15032, 15076, 15178, 15266, 15266, 15266, 15310, 15456, 15500] | 181,002.7 |
| C03 Solvinha Calçado, Lda | [7814.64, 7814.64, 7814.64, 7814.64, 7853.66, 7853.66, 7853.66, 7853.66, 7853.66, 8050, 8050, 8090] | 94,716.86 |
| C04 Valcorra Advogados | [6263.42, 6263.42, 6420, 6472, 6472, 6472, 6472, 6524, 6524, 6472, 6524, 6524] | 77,402.84 |
| C05 Colégios Maravel | [12496.59, 12553.17, 12553.17, 12628.3, 12553.17, 12628.3, 12609.76, 12983, 12983, 13012, 13041, 13070] | 153,111.46 |
| C06 Metalúrgica Vaurinho, Lda | [7178, 7178, 7238, 7238, 7238, 7279, 7279, 7320, 7279, 7320, 7320, 7320] | 87,187 |
| C07 Quintas Delvara, S.A. | [5458.54, 5550, 5595, 5595, 5595, 5595, 5595, 5595, 5640, 5640, 5640, 5685] | 67,183.54 |
| C08 Farmácias Oliveda | [10623, 10701, 10746, 10785, 10908, 10908, 10908, 10908, 10947, 10986, 11070, 11070] | 130,560 |
| C09 Moldivel Plásticos, S.A. | [7894.64, 7872.2, 7911.22, 8011.71, 8011.71, 8011.71, 8315, 8315, 8355, 8395, 8435, 8435] | 97,963.19 |
| C10 Pravel Contabilidade, Lda | [3648.78, 3648.78, 3648.78, 3648.78, 3697.56, 3697.56, 3697.56, 3746.34, 3746.34, 3790, 3840, 3840] | 44,650.48 |
| C11 Hotéis Alvenosa | [7526.83, 7562.93, 7649.76, 7649.76, 7649.76, 7649.76, 7649.76, 7841, 7841, 7841, 7841, 7930] | 92,632.56 |
| C12 Cerâmicas Lovredo, S.A. | [6502.44, 6502.44, 6462.44, 6462.44, 6502.44, 6502.44, 6502.44, 6502.44, 6502.44, 6542.44, 6706, 6706] | 78,396.4 |
| C13 Castelvi Imobiliária | [0, 0, 4186, 4186, 4233, 4233, 4233, 4233, 4233, 4233, 4280, 4280] | 42,330 |
| C14 Agrícola Vinhedal | [4894.64, 4894.64, 4894.64, 4932.68, 5017, 5056, 5056, 5056, 5095, 5095, 5134, 5134] | 60,259.6 |
| C15 Engenharia Morvelo, Lda | [4855.61, 4903.42, 4903.42, 4903.42, 5026, 5026, 5026, 5026, 5075, 5075, 5075, 5075] | 59,969.87 |
| C16 Cooperativa Leiteira Bravanha | [8511.22, 8490.73, 8490.73, 8490.73, 8490.73, 8546.34, 8546.34, 8581.47, 8546.34, 8724, 8724, 8724] | 102,866.63 |
| C17 Laboratórios Cendral, Lda | [7701.47, 7746.34, 7746.34, 7746.34, 7746.34, 7746.34, 7791.22, 8032, 8032, 8100, 8146, 8146] | 94,680.39 |
| C18 Mediavir Seguros | [0, 0, 0, 0, 0, 3242, 3242, 3242, 3290, 3290, 3242, 3290] | 22,838 |
| C19 Construtora Arvedo, S.A. | [7504.39, 7654, 7714, 7714, 7714, 7752, 7752, 7752, 7790, 7790, 7790, 7790] | 92,716.39 |
| C20 Distribuidora Pellano, Lda | [7078, 7117, 7117, 7078, 7117, 7156, 7156, 7156, 7117, 7156, 7195, 7195] | 85,638 |
| C21 Gráfica Tornavel, Lda | [4068.29, 4109.27, 4068.29, 4109.27, 4109.27, 4068.29, 4170, 4170, 4170, 4170, 4170, 4170] | 49,552.68 |
| C22 Óticas Lumarel | [5352.2, 5388.29, 5388.29, 5424.39, 5424.39, 5467.32, 5503.42, 5460.49, 5539.51, 5539.51, 5678, 5715] | 65,880.81 |
| C23 Salmeira Arquitetos | [0, 0, 0, 0, 0, 0, 0, 0, 2728, 2728, 2728, 2728] | 10,912 |
| C24 Traslovia Transportes, Lda | [8048.78, 8010.73, 8048.78, 8048.78, 8250, 8250, 8250, 8250, 8211, 8250, 8250, 8250] | 98,118.07 |
| C25 Conservas Brelmar, S.L. | [8600, 8558.05, 8662.44, 8836, 8793, 8793, 8793, 8793, 8814, 8900, 8900, 8900] | 105,342.49 |
| C26 Talleres Brañoso, S.L. | [5923.9, 5923.9, 5966.83, 5966.83, 6009.76, 6009.76, 6052.68, 6204, 6204, 6204, 6204, 6204] | 72,873.66 |
| C27 Clínica Veigadal, S.L. | [0, 4348, 4348, 4395, 4395, 4395, 4395, 4442, 4442, 4442, 4442, 4442] | 48,486 |
| C28 Maderas Ouriñal, S.L. | [4789.27, 4789.27, 4789.27, 4789.27, 4829.27, 4829.27, 4829.27, 4886.83, 4886.83, 5009, 5009, 5050] | 58,486.55 |
| C29 Pesqueras Morazal, S.L. | [5982.44, 6040.98, 6000, 6000, 6040.98, 6000, 6000, 6000, 6000, 6000, 6000, 6150] | 72,214.4 |
| C30 Bodegas Quenlla, S.L. | [3492.68, 3536.59, 3536.59, 3536.59, 3536.59, 3536.59, 3625, 3625, 3625, 3670, 3670, 3715] | 43,105.63 |
| C31 Ferroval Automação, Lda | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| C32 Clínica Dentária Rosmel | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| C33 Mobiliário Tarvela, Lda | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P01 Grupo Hospitalar Venara | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P02 Exportadora Linhelo, S.A. | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P03 Logística Crastova, Lda | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P04 Conservas Galmira, S.L. | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
Receivables & payables
Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| Measure | Value |
|---|---|
| as at | 2026-08-31 |
| Counterparty (fictional) | Item / document | Group | Amount (EUR) | Due date | Days past due | Not yet due | 1 to 30 | 31 to 60 | 61 to 90 | Over 90 | Action / note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Brevanor Têxteis, S.A. | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 36,978.38 | 2026-09-14 | 0 | 36,978.38 | 0 | 0 | 0 | 0 | 45-day terms. |
| Cerâmicas Lovredo, S.A. | July invoice: hardware (incl. 23% VAT) | Portugal | 14,404.46 | 2026-09-14 | 0 | 14,404.46 | 0 | 0 | 0 | 0 | 45-day terms; EUR 14,885.90 received on 28-Aug-26, balance due. |
| Farmácias Oliveda | July invoice: hardware (incl. 23% VAT) | Portugal | 37,915.8 | 2026-09-14 | 0 | 37,915.8 | 0 | 0 | 0 | 0 | 45-day terms. |
| Moldivel Plásticos, S.A. | July invoice: hardware (incl. 23% VAT) | Portugal | 37,246.43 | 2026-09-14 | 0 | 37,246.43 | 0 | 0 | 0 | 0 | 45-day terms. |
| Construtora Arvedo, S.A. | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,915.93 | 2026-09-29 | 0 | 12,915.93 | 0 | 0 | 0 | 0 | 60-day terms. |
| Construtora Arvedo, S.A. | July invoice: project time and materials (J05 Construction site connectivity) (incl. 23% VAT) | Portugal | 10,036.8 | 2026-09-29 | 0 | 10,036.8 | 0 | 0 | 0 | 0 | 60-day terms. |
| Cooperativa Leiteira Bravanha | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 14,048.25 | 2026-09-29 | 0 | 14,048.25 | 0 | 0 | 0 | 0 | 60-day terms. |
| Moldivel Plásticos, S.A. | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 13,617.7 | 2026-09-29 | 0 | 13,617.7 | 0 | 0 | 0 | 0 | 60-day terms. |
| Castelvi Imobiliária | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 6,718.12 | 2026-09-30 | 0 | 6,718.12 | 0 | 0 | 0 | 0 | 30-day terms. |
| Clínica Dentária Rosmel | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 6,448.07 | 2026-09-30 | 0 | 6,448.07 | 0 | 0 | 0 | 0 | 30-day terms. |
| Clínicas Almedra, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 24,860.44 | 2026-09-30 | 0 | 24,860.44 | 0 | 0 | 0 | 0 | 30-day terms. |
| Colégios Maravel | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 22,703.18 | 2026-09-30 | 0 | 22,703.18 | 0 | 0 | 0 | 0 | 30-day terms. |
| Engenharia Morvelo, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 7,946.14 | 2026-09-30 | 0 | 7,946.14 | 0 | 0 | 0 | 0 | 30-day terms. |
| Engenharia Morvelo, Lda | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 8,345.78 | 2026-09-30 | 0 | 8,345.78 | 0 | 0 | 0 | 0 | 30-day terms. |
| Farmácias Oliveda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 17,547.52 | 2026-09-30 | 0 | 17,547.52 | 0 | 0 | 0 | 0 | 30-day terms. |
| Ferroval Automação, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,016.01 | 2026-09-30 | 0 | 8,016.01 | 0 | 0 | 0 | 0 | 30-day terms. |
| Hotéis Alvenosa | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,455.79 | 2026-09-30 | 0 | 12,455.79 | 0 | 0 | 0 | 0 | 30-day terms. |
| Laboratórios Cendral, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,649.23 | 2026-09-30 | 0 | 12,649.23 | 0 | 0 | 0 | 0 | 30-day terms. |
| Laboratórios Cendral, Lda | August invoice: annual security and backup licences (incl. 23% VAT) | Portugal | 6,927.36 | 2026-09-30 | 0 | 6,927.36 | 0 | 0 | 0 | 0 | 30-day terms. |
| Laboratórios Cendral, Lda | August invoice: project time and materials (J09 Backup and disaster recovery) (incl. 23% VAT) | Portugal | 4,565.76 | 2026-09-30 | 0 | 4,565.76 | 0 | 0 | 0 | 0 | 30-day terms. |
| Mediavir Seguros | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 5,208.89 | 2026-09-30 | 0 | 5,208.89 | 0 | 0 | 0 | 0 | 30-day terms. |
| Mobiliário Tarvela, Lda | August invoice: project milestone (J10 Onboarding and migration) (incl. 23% VAT) | Portugal | 17,712 | 2026-09-30 | 0 | 17,712 | 0 | 0 | 0 | 0 | 30-day terms. |
| Pravel Contabilidade, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 5,860.64 | 2026-09-30 | 0 | 5,860.64 | 0 | 0 | 0 | 0 | 30-day terms. |
| Pravel Contabilidade, Lda | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 14,312.49 | 2026-09-30 | 0 | 14,312.49 | 0 | 0 | 0 | 0 | 30-day terms. |
| Quintas Delvara, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,950.12 | 2026-09-30 | 0 | 8,950.12 | 0 | 0 | 0 | 0 | 30-day terms. |
| Quintas Delvara, S.A. | August invoice: project milestone (J07 Productivity suite tenant migration) (incl. 23% VAT) | Portugal | 18,696 | 2026-09-30 | 0 | 18,696 | 0 | 0 | 0 | 0 | 30-day terms. |
| Salmeira Arquitetos | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 4,132.79 | 2026-09-30 | 0 | 4,132.79 | 0 | 0 | 0 | 0 | 30-day terms. |
| Salmeira Arquitetos | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 12,700.57 | 2026-09-30 | 0 | 12,700.57 | 0 | 0 | 0 | 0 | 30-day terms. |
| Valcorra Advogados | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 9,958.27 | 2026-09-30 | 0 | 9,958.27 | 0 | 0 | 0 | 0 | 30-day terms. |
| Valcorra Advogados | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 6,707.15 | 2026-09-30 | 0 | 6,707.15 | 0 | 0 | 0 | 0 | 30-day terms. |
| Óticas Lumarel | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,906.36 | 2026-09-30 | 0 | 8,906.36 | 0 | 0 | 0 | 0 | 30-day terms. |
| Agrícola Vinhedal | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,230.87 | 2026-10-15 | 0 | 8,230.87 | 0 | 0 | 0 | 0 | 45-day terms. |
| Brevanor Têxteis, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 36,138.5 | 2026-10-15 | 0 | 36,138.5 | 0 | 0 | 0 | 0 | 45-day terms. |
| Cerâmicas Lovredo, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 10,276.26 | 2026-10-15 | 0 | 10,276.26 | 0 | 0 | 0 | 0 | 45-day terms. |
| Cerâmicas Lovredo, S.A. | August invoice: hardware (incl. 23% VAT) | Portugal | 16,607.88 | 2026-10-15 | 0 | 16,607.88 | 0 | 0 | 0 | 0 | 45-day terms. |
| Clínicas Almedra, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 11,831.09 | 2026-10-15 | 0 | 11,831.09 | 0 | 0 | 0 | 0 | 45-day terms. |
| Colégios Maravel | August invoice: hardware (incl. 23% VAT) | Portugal | 24,686.58 | 2026-10-15 | 0 | 24,686.58 | 0 | 0 | 0 | 0 | 45-day terms. |
| Distribuidora Pellano, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 11,524.35 | 2026-10-15 | 0 | 11,524.35 | 0 | 0 | 0 | 0 | 45-day terms. |
| Distribuidora Pellano, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 14,571.43 | 2026-10-15 | 0 | 14,571.43 | 0 | 0 | 0 | 0 | 45-day terms. |
| Farmácias Oliveda | August invoice: hardware (incl. 23% VAT) | Portugal | 13,413.05 | 2026-10-15 | 0 | 13,413.05 | 0 | 0 | 0 | 0 | 45-day terms. |
| Ferroval Automação, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 13,057.53 | 2026-10-15 | 0 | 13,057.53 | 0 | 0 | 0 | 0 | 45-day terms. |
| Gráfica Tornavel, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 6,401.07 | 2026-10-15 | 0 | 6,401.07 | 0 | 0 | 0 | 0 | 45-day terms. |
| Metalúrgica Vaurinho, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 11,504.02 | 2026-10-15 | 0 | 11,504.02 | 0 | 0 | 0 | 0 | 45-day terms. |
| Mobiliário Tarvela, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 9,886.95 | 2026-10-15 | 0 | 9,886.95 | 0 | 0 | 0 | 0 | 45-day terms. |
| Mobiliário Tarvela, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 10,900.24 | 2026-10-15 | 0 | 10,900.24 | 0 | 0 | 0 | 0 | 45-day terms. |
| Moldivel Plásticos, S.A. | August invoice: hardware (incl. 23% VAT) | Portugal | 25,902.61 | 2026-10-15 | 0 | 25,902.61 | 0 | 0 | 0 | 0 | 45-day terms. |
| Solvinha Calçado, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,888.41 | 2026-10-15 | 0 | 12,888.41 | 0 | 0 | 0 | 0 | 45-day terms. |
| Construtora Arvedo, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,596.65 | 2026-10-30 | 0 | 12,596.65 | 0 | 0 | 0 | 0 | 60-day terms. |
| Construtora Arvedo, S.A. | August invoice: project time and materials (J05 Construction site connectivity) (incl. 23% VAT) | Portugal | 7,084.8 | 2026-10-30 | 0 | 7,084.8 | 0 | 0 | 0 | 0 | 60-day terms. |
| Cooperativa Leiteira Bravanha | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 13,769.35 | 2026-10-30 | 0 | 13,769.35 | 0 | 0 | 0 | 0 | 60-day terms. |
| Moldivel Plásticos, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 13,341.15 | 2026-10-30 | 0 | 13,341.15 | 0 | 0 | 0 | 0 | 60-day terms. |
| Talleres Brañoso, S.L. | June invoice: project J11 ERP hosting move, final milestone (30%) | Spain | 21,600 | 2026-07-30 | 32 | 0 | 0 | 21,600 | 0 | 0 | Disputed: the customer is withholding payment until the performance acceptance test is signed off. Test rerun booked for September; no credit expected. |
| Clínica Veigadal, S.L. | July invoice: managed services and licences | Spain | 3,903.24 | 2026-09-14 | 0 | 3,903.24 | 0 | 0 | 0 | 0 | 45-day terms; EUR 1,928.97 received on 28-Aug-26, balance due. |
| Conservas Brelmar, S.L. | July invoice: managed services and licences | Spain | 11,673.72 | 2026-09-29 | 0 | 11,673.72 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | July invoice: hardware (intra-EU supply, exempt) | Spain | 10,878.21 | 2026-09-29 | 0 | 10,878.21 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | July invoice: project time and materials (J04 Security hardening and SOC onboarding) | Spain | 7,072 | 2026-09-29 | 0 | 7,072 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | July invoice: hardware (intra-EU supply, exempt) | Spain | 12,641.79 | 2026-09-29 | 0 | 12,641.79 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | July invoice: managed services and licences | Spain | 6,418.97 | 2026-09-29 | 0 | 6,418.97 | 0 | 0 | 0 | 0 | 60-day terms. |
| Pesqueras Morazal, S.L. | July invoice: managed services and licences | Spain | 7,645.06 | 2026-09-29 | 0 | 7,645.06 | 0 | 0 | 0 | 0 | 60-day terms. |
| Talleres Brañoso, S.L. | July invoice: managed services and licences | Spain | 7,731.08 | 2026-09-29 | 0 | 7,731.08 | 0 | 0 | 0 | 0 | 60-day terms. |
| Bodegas Quenlla, S.L. | August invoice: managed services and licences | Spain | 4,647.03 | 2026-10-15 | 0 | 4,647.03 | 0 | 0 | 0 | 0 | 45-day terms. |
| Bodegas Quenlla, S.L. | August invoice: annual security and backup licences | Spain | 768 | 2026-10-15 | 0 | 768 | 0 | 0 | 0 | 0 | 45-day terms. |
| Clínica Veigadal, S.L. | August invoice: managed services and licences | Spain | 5,749.05 | 2026-10-15 | 0 | 5,749.05 | 0 | 0 | 0 | 0 | 45-day terms. |
| Clínica Veigadal, S.L. | August invoice: software licences resold as agent, gross | Spain | 3,800 | 2026-10-15 | 0 | 3,800 | 0 | 0 | 0 | 0 | 45-day terms. |
| Conservas Brelmar, S.L. | August invoice: managed services and licences | Spain | 11,434.57 | 2026-10-30 | 0 | 11,434.57 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | August invoice: hardware (intra-EU supply, exempt) | Spain | 5,492.21 | 2026-10-30 | 0 | 5,492.21 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | August invoice: project time and materials (J04 Security hardening and SOC onboarding) | Spain | 4,896 | 2026-10-30 | 0 | 4,896 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | August invoice: managed services and licences | Spain | 6,197.72 | 2026-10-30 | 0 | 6,197.72 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | August invoice: hardware (intra-EU supply, exempt) | Spain | 9,027.79 | 2026-10-30 | 0 | 9,027.79 | 0 | 0 | 0 | 0 | 60-day terms. |
| Pesqueras Morazal, S.L. | August invoice: managed services and licences | Spain | 7,509.92 | 2026-10-30 | 0 | 7,509.92 | 0 | 0 | 0 | 0 | 60-day terms. |
| Talleres Brañoso, S.L. | August invoice: managed services and licences | Spain | 7,756.56 | 2026-10-30 | 0 | 7,756.56 | 0 | 0 | 0 | 0 | 60-day terms. |
| Value |
|---|
| TOTAL |
| 870,948.14 |
| 849,348.14 |
| 0 |
| 21,600 |
| 0 |
| 0 |
| label | values |
|---|---|
| Customers in Portugal: aging vs ledger | [null, null, 714105.22, "Ledger balance", 714105.2217, "Difference", 0, null] |
| Customers in Spain: aging vs ledger | [null, null, 156842.92, "Ledger balance", 156842.9203, "Difference", 0, null] |
| Measure | Value |
|---|---|
| as at | 2026-08-31 |
| Counterparty (fictional) | Item / document | Group | Amount (EUR) | Due date | Days past due | Not yet due | 1 to 30 | 31 to 60 | 61 to 90 | Over 90 | Action / note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Hardware distributor A (laptops and desktops) | August invoices: hardware purchases (incl. 23% VAT) | Hardware distributors | 61,729.02 | 2026-09-30 | 0 | 61,729.02 | 0 | 0 | 0 | 0 | Paid by transfer at 30 days. |
| Hardware distributor B (servers and networking) | August invoices: hardware purchases (incl. 23% VAT) | Hardware distributors | 37,833.92 | 2026-09-30 | 0 | 37,833.92 | 0 | 0 | 0 | 0 | Paid by transfer at 30 days. |
| Licence distributor | August invoice: bundled, annual and resold licences (incl. 23% VAT) | Licence distributor | 118,786.57 | 2026-09-30 | 0 | 118,786.57 | 0 | 0 | 0 | 0 | Paid by transfer at 30 days. |
| Service tooling vendor (USD) | August invoice: RMM, PSA, endpoint security and backup platforms (USD 23,442 at the August average rate) | Tooling vendor (USD) | 20,113.03 | 2026-09-15 | 0 | 20,113.03 | 0 | 0 | 0 | 0 | Paid by wire on the 15th; reverse charge. |
| Colocation and backup storage provider | August invoice: rack space, power and backup storage (incl. 23% VAT) | Other suppliers | 10,950.08 | 2026-09-30 | 0 | 10,950.08 | 0 | 0 | 0 | 0 | 30-day terms. |
| Specialist ERP data migration subcontractor | August invoice: J01 subcontract hours (incl. 23% VAT) | Other suppliers | 12,103.2 | 2026-09-30 | 0 | 12,103.2 | 0 | 0 | 0 | 0 | 30-day terms. |
| Cabling and electrical subcontractor | August invoice: site cabling (incl. 23% VAT) | Other suppliers | 1,845 | 2026-09-30 | 0 | 1,845 | 0 | 0 | 0 | 0 | 30-day terms. |
| Statutory auditor and legal advisers | August invoices: fees (incl. 23% VAT) | Other suppliers | 4,956.3 | 2026-09-30 | 0 | 4,956.3 | 0 | 0 | 0 | 0 | 30-day terms. |
| Marketing agency | August invoice: campaigns and events (incl. 23% VAT) | Other suppliers | 3,968.56 | 2026-09-30 | 0 | 3,968.56 | 0 | 0 | 0 | 0 | 30-day terms. |
| Training provider | August invoice: certifications (incl. 23% VAT) | Other suppliers | 4,688.93 | 2026-09-30 | 0 | 4,688.93 | 0 | 0 | 0 | 0 | 30-day terms. |
| Recruitment agency and job boards | August invoice (incl. 23% VAT) | Other suppliers | 489.02 | 2026-09-30 | 0 | 489.02 | 0 | 0 | 0 | 0 | 30-day terms. |
| Office services | August invoice: cleaning, utilities and supplies (incl. 23% VAT) | Other suppliers | 3,406.62 | 2026-09-30 | 0 | 3,406.62 | 0 | 0 | 0 | 0 | 30-day terms. |
| Occupational health provider | August invoice (VAT exempt) | Other suppliers | 447.76 | 2026-09-30 | 0 | 447.76 | 0 | 0 | 0 | 0 | 30-day terms. |
| IT equipment reseller | August invoice: laptops and replacements (incl. 23% VAT) | Other suppliers | 2,214 | 2026-09-30 | 0 | 2,214 | 0 | 0 | 0 | 0 | 30-day terms. |
| Value |
|---|
| TOTAL |
| 283,532.01 |
| 283,532.01 |
| 0 |
| 0 |
| 0 |
| 0 |
| label | values |
|---|---|
| Hardware distributors: aging vs schedule | [null, null, 99562.94, "Ledger balance", 99562.9463, "Difference", 0, null] |
| Licence distributor: aging vs schedule | [null, null, 118786.57, "Ledger balance", 118786.577, "Difference", 0, null] |
| Tooling vendor (USD): aging vs schedule | [null, null, 20113.03, "Ledger balance", 20113.033, "Difference", 0, null] |
| Other suppliers: aging vs schedule | [null, null, 45069.47, "Ledger balance", 45069.4557, "Difference", 0, null] |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed service fees | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | Contracts | 187,820.28 | 188,649.32 | 194,990.64 | 195,977.85 | 192,643.71 | 193,175.21 | 200,084.98 | 201,384.22 | 201,628.9489 | 197,999.8091 | 197,005.8229 | 197,207.5951 | 205,353.2814 | 204,590.8118 | 195,253.8478 | 197,862.8797 | 197,290.555 | 197,549.0617 | 198,050.9846 | 194,568.3025 | 194,814.7212 | 194,610.8242 | 193,867.3698 | 194,069.9142 | 2,348,568.386 | 2,367,882.554 |
| Bundled licences | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | licences x share of users in Portugal | 56,576.3422 | 57,042.4949 | 58,369.5073 | 58,423.3464 | 57,173.7785 | 57,371.8855 | 59,352.4945 | 59,386.4429 | 59,523.3034 | 58,493.7287 | 58,252.6403 | 58,321.4244 | 62,787.8231 | 62,623.9696 | 59,504.3572 | 60,204.7042 | 60,078.959 | 60,151.6697 | 60,224.483 | 59,179.3469 | 59,250.9851 | 59,189.4957 | 59,011.9307 | 59,083.3654 | 698,287.389 | 721,291.0897 |
| SLA credits of the prior month | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | credited x prior share of fees in Portugal | 0 | 0 | 0 | -2,744.9787 | -4,105.5586 | -4,601.5721 | -3,232.1069 | -9,616.8862 | -7,648.0094 | -6,859.5063 | -742.1138 | 0 | 0 | -2,883.5227 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -39,550.7321 | -2,883.5227 |
| Onboarding fees | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | Contracts | 0 | 0 | 3,600 | 0 | 2,970 | 0 | 4,860 | 0 | 0 | 0 | 0 | 0 | 7,560 | 0 | 1,620 | 1,575 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11,430 | 10,755 |
| Annual licences | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | billed x share in Portugal | 214,280 | 11,528 | 16,896 | 13,112 | 8,448 | 15,224 | 10,208 | 5,632 | 19,360 | 13,200 | 10,560 | 22,000 | 214,280 | 11,528 | 16,896 | 13,112 | 8,448 | 15,224 | 10,208 | 5,632 | 19,360 | 13,200 | 10,560 | 22,000 | 360,448 | 360,448 |
| Licences resold as agent (gross) | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | gross x share in Portugal | 44,100 | 48,600 | 59,400 | 51,300 | 52,200 | 54,900 | 49,500 | 34,200 | 46,739.205 | 49,796.91 | 53,291.43 | 57,659.58 | 35,818.83 | 38,439.72 | 47,176.02 | 40,623.795 | 41,934.24 | 44,555.13 | 40,186.98 | 27,956.16 | 46,739.205 | 49,796.91 | 53,291.43 | 57,659.58 | 601,687.125 | 524,178 |
| Hardware | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | revenue - Spain | 163,680 | 173,360 | 197,120 | 176,880 | 186,560 | 209,440 | 172,480 | 106,480 | 183,589.12 | 199,147.52 | 166,474.88 | 152,472.32 | 136,913.92 | 143,137.28 | 163,363.2 | 147,804.8 | 155,584 | 174,254.08 | 143,137.28 | 93,350.4 | 183,589.12 | 199,147.52 | 166,474.88 | 152,472.32 | 2,087,683.84 | 1,859,228.8 |
| Projects | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | Projects | 32,112 | 39,248 | 39,080 | 108,536 | 51,304 | 34,952 | 46,880 | 39,072 | 63,114 | 35,354.2379 | 114,639.2379 | 45,229.6 | 63,927.5 | 54,697.5 | 58,565 | 56,355 | 53,592.5 | 60,775 | 51,382.5 | 33,150 | 58,012.5 | 64,090 | 60,775 | 58,012.5 | 649,521.0757 | 673,335 |
| INVOICED IN PORTUGAL, EX VAT | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | 698,568.6222 | 518,427.8149 | 569,456.1473 | 601,484.2177 | 547,193.9299 | 560,461.5234 | 540,133.3676 | 436,537.7767 | 566,306.5679 | 547,132.6993 | 599,481.8973 | 532,890.5195 | 726,641.3545 | 512,133.7587 | 542,378.425 | 517,538.1789 | 516,928.254 | 552,508.9415 | 503,190.2276 | 413,836.2094 | 561,766.5314 | 580,034.7498 | 543,980.6105 | 543,297.6796 | 6,718,075.0836 | 6,514,234.921 | |
| Output VAT (23%) | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | 160,670.7831 | 119,238.3974 | 130,974.9139 | 138,341.3701 | 125,854.6039 | 128,906.1504 | 124,230.6746 | 100,403.6886 | 130,250.5106 | 125,840.5208 | 137,880.8364 | 122,564.8195 | 167,127.5115 | 117,790.7645 | 124,747.0378 | 119,033.7811 | 118,893.4984 | 127,077.0565 | 115,733.7524 | 95,182.3282 | 129,206.3022 | 133,407.9925 | 125,115.5404 | 124,958.4663 | 1,545,157.2692 | 1,498,274.0318 | |
| INVOICED IN PORTUGAL, INCL. VAT | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | 859,239.4053 | 637,666.2123 | 700,431.0612 | 739,825.5878 | 673,048.5338 | 689,367.6738 | 664,364.0422 | 536,941.4654 | 696,557.0785 | 672,973.2201 | 737,362.7336 | 655,455.3389 | 893,768.8661 | 629,924.5232 | 667,125.4628 | 636,571.9601 | 635,821.7524 | 679,585.998 | 618,923.98 | 509,018.5376 | 690,972.8336 | 713,442.7423 | 669,096.1509 | 668,256.1459 | 8,263,232.3529 | 8,012,508.9528 | |
| Managed service fees | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 34,461 | 34,619.49 | 34,860.71 | 35,140.01 | 35,144.12 | 35,144.12 | 35,309.66 | 35,610.59 | 35,637.7523 | 35,740.7525 | 35,767.9968 | 34,090.0609 | 34,116.6532 | 34,214.3599 | 34,241.0958 | 32,561.735 | 32,587.095 | 34,229.9791 | 33,554.4204 | 33,678.4067 | 33,704.705 | 33,808.3596 | 33,834.7398 | 33,928.3005 | 421,526.2625 | 404,459.8499 | |
| Bundled licences | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 9,223.4578 | 9,282.7351 | 9,330.0527 | 9,328.2436 | 9,345.8815 | 9,352.5945 | 9,351.2455 | 9,381.3871 | 9,400.5784 | 9,409.0905 | 9,417.6113 | 9,011.4688 | 9,290.3936 | 9,298.9834 | 9,307.582 | 8,928.1196 | 8,936.348 | 9,393.2787 | 9,249.5451 | 9,258.0958 | 9,266.6554 | 9,275.2239 | 9,283.8013 | 9,292.3876 | 111,834.3467 | 110,780.4144 | |
| SLA credits of the prior month | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 0 | 0 | 0 | -490.7513 | -736.1514 | -839.4679 | -588.0131 | -1,697.1238 | -1,352.3906 | -1,212.4122 | -133.9582 | 0 | 0 | -479.0581 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -7,050.2684 | -479.0581 | |
| Onboarding fees | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,125 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,125 | |
| Annual licences | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 29,220 | 1,572 | 2,304 | 1,788 | 1,152 | 2,076 | 1,392 | 768 | 2,640 | 1,800 | 1,440 | 3,000 | 29,220 | 1,572 | 2,304 | 1,788 | 1,152 | 2,076 | 1,392 | 768 | 2,640 | 1,800 | 1,440 | 3,000 | 49,152 | 49,152 | |
| Licences resold as agent (gross) | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 4,900 | 5,400 | 6,600 | 5,700 | 5,800 | 6,100 | 5,500 | 3,800 | 5,193.245 | 5,532.99 | 5,921.27 | 6,406.62 | 3,979.87 | 4,271.08 | 5,241.78 | 4,513.755 | 4,659.36 | 4,950.57 | 4,465.22 | 3,106.24 | 5,193.245 | 5,532.99 | 5,921.27 | 6,406.62 | 66,854.125 | 58,242 | |
| Hardware (exempt intra-EU supply) | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | Hardware | 22,320 | 23,640 | 26,880 | 24,120 | 25,440 | 28,560 | 23,520 | 14,520 | 25,034.88 | 27,156.48 | 22,701.12 | 20,791.68 | 18,670.08 | 19,518.72 | 22,276.8 | 20,155.2 | 21,216 | 23,761.92 | 19,518.72 | 12,729.6 | 25,034.88 | 27,156.48 | 22,701.12 | 20,791.68 | 284,684.16 | 253,531.2 |
| Projects | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 21,600 | 6,460 | 36,824 | 7,616 | 7,480 | 29,488 | 7,072 | 4,896 | 10,404 | 3,677.689 | 3,092.689 | 5,420.4 | 6,622.5 | 9,652.5 | 10,335 | 9,945 | 9,457.5 | 10,725 | 9,067.5 | 5,850 | 10,237.5 | 11,310 | 10,725 | 10,237.5 | 144,030.7781 | 114,165 | |
| INVOICED IN SPAIN | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 121,724.4578 | 80,974.2251 | 116,798.7627 | 83,201.5023 | 83,625.8501 | 109,881.2466 | 81,556.8924 | 67,278.8533 | 86,958.0651 | 82,104.5898 | 78,206.7289 | 78,720.2297 | 101,899.4968 | 78,048.5852 | 83,706.2578 | 77,891.8097 | 78,008.303 | 86,261.7478 | 77,247.4055 | 65,390.3425 | 86,076.9854 | 88,883.0535 | 83,905.9311 | 83,656.488 | 1,071,031.4038 | 990,976.4062 | |
| of which services to Spanish businesses (taxed in Spain; recapitulative statement) | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | memo | 99,404.4578 | 57,334.2251 | 89,918.7627 | 59,081.5023 | 58,185.8501 | 81,321.2466 | 58,036.8924 | 52,758.8533 | 61,923.1851 | 54,948.1098 | 55,505.6089 | 57,928.5497 | 83,229.4168 | 58,529.8652 | 61,429.4578 | 57,736.6097 | 56,792.303 | 62,499.8278 | 57,728.6855 | 52,660.7425 | 61,042.1054 | 61,726.5735 | 61,204.8111 | 62,864.808 | 786,347.2438 | 737,445.2062 |
| Receivable per the collection days (forecast rule) | RECEIVABLE: CUSTOMERS IN PORTUGAL (incl. VAT) | invoicing still inside the days | 859,239.4053 | 1,296,416.423 | 1,189,308.4906 | 1,276,822.7347 | 1,240,248.1511 | 1,205,371.5497 | 1,192,879.2587 | 1,046,287.231 | 1,108,212.2019 | 1,207,000.3136 | 1,253,308.8691 | 1,220,766.7681 | 1,396,284.6259 | 1,315,147.3205 | 1,150,067.5973 | 1,148,034.8148 | 1,123,860.2551 | 1,167,049.3415 | 1,139,939.9118 | 983,526.9223 | 1,081,220.3791 | 1,243,188.5814 | 1,216,068.92 | 1,181,229.8616 | 1,220,766.7681 | 1,181,229.8616 |
| Cash received | RECEIVABLE: CUSTOMERS IN PORTUGAL (incl. VAT) | A: bank; F: opening + invoiced - receivable per the rule | 858,639.12 | 855,237.39 | 696,752.39 | 683,693.77 | 729,320.38 | 690,855.75 | 685,015.9 | 671,031.68 | 302,450.0982 | 574,185.1084 | 691,054.1782 | 687,997.44 | 718,251.0082 | 711,061.8286 | 832,205.1861 | 638,604.7425 | 659,996.3121 | 636,396.9116 | 646,033.4097 | 665,431.5271 | 593,279.3768 | 551,474.54 | 696,215.8123 | 703,095.2043 | 8,126,233.2048 | 8,052,045.8593 |
| RECEIVABLE: CUSTOMERS IN PORTUGAL | RECEIVABLE: CUSTOMERS IN PORTUGAL (incl. VAT) | opening + invoiced - received | 1,084,367.9053 | 866,796.7276 | 870,475.3987 | 926,607.2165 | 870,335.3704 | 868,847.2941 | 848,195.4363 | 714,105.2217 | 1,108,212.2019 | 1,207,000.3136 | 1,253,308.8691 | 1,220,766.7681 | 1,396,284.6259 | 1,315,147.3205 | 1,150,067.5973 | 1,148,034.8148 | 1,123,860.2551 | 1,167,049.3415 | 1,139,939.9118 | 983,526.9223 | 1,081,220.3791 | 1,243,188.5814 | 1,216,068.92 | 1,181,229.8616 | 1,220,766.7681 | 1,181,229.8616 |
| Disputed J11 final milestone still open | RECEIVABLE: CUSTOMERS IN SPAIN | A: from June; F: until settled | 0 | 0 | 0 | 0 | 0 | 21,600 | 21,600 | 21,600 | 21,600 | 21,600 | 21,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivable on current invoices per the collection days (forecast rule) | RECEIVABLE: CUSTOMERS IN SPAIN | 121,724.4578 | 202,698.683 | 238,347.8071 | 226,991.6734 | 205,760.2732 | 221,240.9308 | 219,313.4223 | 185,462.8279 | 181,422.5492 | 191,488.9394 | 189,297.3404 | 184,295.1552 | 206,688.6361 | 206,188.1586 | 195,721.3419 | 187,614.2625 | 183,802.1986 | 190,233.9873 | 189,511.9209 | 171,391.6639 | 177,216.463 | 196,756.8197 | 201,481.313 | 197,190.1036 | 184,295.1552 | 197,190.1036 | |
| Cash received on current invoices | RECEIVABLE: CUSTOMERS IN SPAIN | A: bank; F: opening current balance + invoiced - receivable per the rule | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 40,778.4362 | 72,038.1996 | 80,398.3278 | 83,722.4149 | 79,506.0159 | 78,549.0627 | 94,173.0744 | 85,998.8891 | 81,820.3669 | 79,829.959 | 77,969.4719 | 83,510.5995 | 80,252.1862 | 69,342.6968 | 79,181.4378 | 87,947.6975 | 1,058,457.6586 | 978,081.4577 |
| Disputed milestone collected | RECEIVABLE: CUSTOMERS IN SPAIN | drivers: month and share credited | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16,200 | 0 |
| Credit note on the disputed milestone | RECEIVABLE: CUSTOMERS IN SPAIN | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,400 | 0 | |
| Cash received | RECEIVABLE: CUSTOMERS IN SPAIN | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 40,778.4362 | 72,038.1996 | 80,398.3278 | 99,922.4149 | 79,506.0159 | 78,549.0627 | 94,173.0744 | 85,998.8891 | 81,820.3669 | 79,829.959 | 77,969.4719 | 83,510.5995 | 80,252.1862 | 69,342.6968 | 79,181.4378 | 87,947.6975 | 1,074,657.6586 | 978,081.4577 | |
| RECEIVABLE: CUSTOMERS IN SPAIN | RECEIVABLE: CUSTOMERS IN SPAIN | opening + invoiced - received - credit notes | 209,645.7178 | 182,411.273 | 184,277.2757 | 180,533.798 | 152,960.428 | 179,569.4446 | 176,724.587 | 156,842.9203 | 203,022.5492 | 213,088.9394 | 210,897.3404 | 184,295.1552 | 206,688.6361 | 206,188.1586 | 195,721.3419 | 187,614.2625 | 183,802.1986 | 190,233.9873 | 189,511.9209 | 171,391.6639 | 177,216.463 | 196,756.8197 | 201,481.313 | 197,190.1036 | 184,295.1552 | 197,190.1036 |
| Customer receivables | TOTALS | 1,294,013.6231 | 1,049,208.0005 | 1,054,752.6744 | 1,107,141.0145 | 1,023,295.7984 | 1,048,416.7387 | 1,024,920.0233 | 870,948.1419 | 1,311,234.7511 | 1,420,089.253 | 1,464,206.2095 | 1,405,061.9232 | 1,602,973.262 | 1,521,335.4791 | 1,345,788.9392 | 1,335,649.0773 | 1,307,662.4537 | 1,357,283.3288 | 1,329,451.8327 | 1,154,918.5862 | 1,258,436.8421 | 1,439,945.4011 | 1,417,550.233 | 1,378,419.9652 | 1,405,061.9232 | 1,378,419.9652 | |
| Invoiced incl. VAT | TOTALS | 980,963.8631 | 718,640.4374 | 817,229.8239 | 823,027.0901 | 756,674.3839 | 799,248.9204 | 745,920.9346 | 604,220.3186 | 783,515.1436 | 755,077.81 | 815,569.4625 | 734,175.5686 | 995,668.3629 | 707,973.1084 | 750,831.7205 | 714,463.7697 | 713,830.0554 | 765,847.7458 | 696,171.3855 | 574,408.8801 | 777,049.819 | 802,325.7958 | 753,002.082 | 751,912.6339 | 9,334,263.7566 | 9,003,485.359 | |
| Debtor days (receivables / invoicing of the last three months x days) | TOTALS | 40.8929 | 36.4222 | 37.7171 | 41.7719 | 39.2766 | 40.1042 | 40.964 | 37.2791 | 56.5384 | 60.9704 | 56.5988 | 56.0849 | 57.937 | 56.1651 | 49.347 | 54.6977 | 55.2079 | 56.2921 | 56.2123 | 52.1759 | 56.5416 | 61.508 | 55.3071 | 54.9638 | 56.0849 | 54.9638 | |
| TOTAL CASH RECEIVED FROM CUSTOMERS | TOTALS | 964,039.27 | 963,446.06 | 811,685.15 | 770,638.75 | 840,519.6 | 774,127.98 | 769,417.65 | 758,192.2 | 343,228.5344 | 646,223.3081 | 771,452.506 | 787,919.8549 | 797,757.0241 | 789,610.8913 | 926,378.2605 | 724,603.6315 | 741,816.6791 | 716,226.8706 | 724,002.8816 | 748,942.1267 | 673,531.563 | 620,817.2368 | 775,397.25 | 791,042.9018 | 9,200,890.8634 | 9,030,127.317 |
| 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 incl. VAT | HARDWARE DISTRIBUTORS (incl. VAT, 30 days) | purchases x 1.23 | 171,017.478 | 213,959.7546 | 259,420.5792 | 209,385.4092 | 218,285.2587 | 272,849.1534 | 190,772.2128 | 99,562.9404 | 268,202.9047 | 251,616.0899 | 190,775.2746 | 177,684.1523 | 160,669.4182 | 189,103.1869 | 204,810.0504 | 176,893.6356 | 194,049.0899 | 229,225.0143 | 156,431.2553 | 87,660.4399 | 280,927.2908 | 251,616.0899 | 190,775.2746 | 177,684.1523 | 2,523,531.2077 | 2,299,844.898 |
| Paid | HARDWARE DISTRIBUTORS (incl. VAT, 30 days) | A: bank; F: prior balance | 265,273.96 | 171,017.48 | 213,959.75 | 259,420.58 | 209,385.41 | 218,285.26 | 272,849.15 | 190,772.21 | 99,562.9463 | 268,202.9047 | 251,616.0899 | 190,775.2746 | 177,684.1523 | 160,669.4182 | 189,103.1869 | 204,810.0504 | 176,893.6356 | 194,049.0899 | 229,225.0143 | 156,431.2553 | 87,660.4399 | 280,927.2908 | 251,616.0899 | 190,775.2746 | 2,611,121.0154 | 2,299,844.898 |
| Payable: hardware distributors | HARDWARE DISTRIBUTORS (incl. VAT, 30 days) | 171,017.478 | 213,959.7526 | 259,420.5818 | 209,385.411 | 218,285.2597 | 272,849.1531 | 190,772.2159 | 99,562.9463 | 268,202.9047 | 251,616.0899 | 190,775.2746 | 177,684.1523 | 160,669.4182 | 189,103.1869 | 204,810.0504 | 176,893.6356 | 194,049.0899 | 229,225.0143 | 156,431.2553 | 87,660.4399 | 280,927.2908 | 251,616.0899 | 190,775.2746 | 177,684.1523 | 177,684.1523 | 177,684.1523 | |
| Invoices incl. VAT | LICENCE DISTRIBUTOR (incl. VAT, 30 days) | bundled + annual + agent vendor cost x 1.23 | 349,276.4457 | 139,566.9684 | 159,995.6817 | 146,302.4484 | 141,212.0934 | 151,673.022 | 141,778.3239 | 118,786.5735 | 148,639.6577 | 144,734.489 | 145,915.3057 | 163,000.8051 | 345,763.8639 | 133,394.7465 | 146,434.3491 | 134,822.8712 | 131,331.4319 | 142,249.1262 | 131,563.8735 | 110,833.761 | 148,217.9794 | 145,317.7416 | 146,564.5544 | 164,083.2936 | 1,950,881.8145 | 1,880,577.5922 |
| Paid | LICENCE DISTRIBUTOR (incl. VAT, 30 days) | A: bank; F: prior balance | 193,719.66 | 349,276.45 | 139,566.97 | 159,995.68 | 146,302.45 | 141,212.09 | 151,673.02 | 141,778.32 | 118,786.577 | 148,639.6577 | 144,734.489 | 145,915.3057 | 163,000.8051 | 345,763.8639 | 133,394.7465 | 146,434.3491 | 134,822.8712 | 131,331.4319 | 142,249.1262 | 131,563.8735 | 110,833.761 | 148,217.9794 | 145,317.7416 | 146,564.5544 | 1,981,600.6694 | 1,879,495.1037 |
| Payable: licence distributor | LICENCE DISTRIBUTOR (incl. VAT, 30 days) | 349,276.4457 | 139,566.9641 | 159,995.6758 | 146,302.4442 | 141,212.0876 | 151,673.0196 | 141,778.3235 | 118,786.577 | 148,639.6577 | 144,734.489 | 145,915.3057 | 163,000.8051 | 345,763.8639 | 133,394.7465 | 146,434.3491 | 134,822.8712 | 131,331.4319 | 142,249.1262 | 131,563.8735 | 110,833.761 | 148,217.9794 | 145,317.7416 | 146,564.5544 | 164,083.2936 | 163,000.8051 | 164,083.2936 | |
| Invoices (USD) | SERVICE TOOLING VENDOR IN USD (reverse charge) | Overheads | 22,632.54 | 22,681.16 | 23,112.28 | 23,160.22 | 22,810.7 | 22,847.76 | 23,386.32 | 23,441.74 | 23,460.7747 | 23,182.747 | 23,115.5754 | 23,014.8769 | 23,729.9101 | 23,684.1248 | 22,915.3114 | 23,007.2526 | 22,975.5831 | 23,118.099 | 23,095.4786 | 22,819.4904 | 22,838.5748 | 22,824.9907 | 22,767.5993 | 22,786.6308 | 276,846.6941 | 276,563.0456 |
| Invoices (EUR at the rate of the month) | SERVICE TOOLING VENDOR IN USD (reverse charge) | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 21,722.9396 | 21,465.5065 | 21,403.3106 | 21,310.0712 | 21,972.139 | 21,929.7452 | 21,217.8809 | 21,303.0117 | 21,273.688 | 21,405.6472 | 21,384.7024 | 21,129.1578 | 21,146.8285 | 21,134.2506 | 21,081.1105 | 21,098.7322 | 244,270.0547 | 256,076.894 | |
| Paid (EUR debited) | SERVICE TOOLING VENDOR IN USD (reverse charge) | A: bank; F: prior month USD / rate of this month | 19,321.57 | 19,196.39 | 19,532.52 | 20,019.3 | 20,160.36 | 19,710.27 | 19,650.61 | 20,065.48 | 21,705.3148 | 21,722.9396 | 21,465.5065 | 21,403.3106 | 21,310.0712 | 21,972.139 | 21,929.7452 | 21,217.8809 | 21,303.0117 | 21,273.688 | 21,405.6472 | 21,384.7024 | 21,129.1578 | 21,146.8285 | 21,134.2506 | 21,081.1105 | 243,953.5714 | 256,288.233 |
| Exchange difference on settlement: gain (+) / loss (-) | SERVICE TOOLING VENDOR IN USD (reverse charge) | balance booked less EUR paid | -9.9 | 144.3552 | -294.8949 | -115.5108 | -99.5371 | 145.8407 | 91.6867 | 48.3241 | -1,592.2818 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,681.9179 | 0 |
| Payable: tooling vendor in USD (EUR) | SERVICE TOOLING VENDOR IN USD (reverse charge) | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 21,722.9396 | 21,465.5065 | 21,403.3106 | 21,310.0712 | 21,972.139 | 21,929.7452 | 21,217.8809 | 21,303.0117 | 21,273.688 | 21,405.6472 | 21,384.7024 | 21,129.1578 | 21,146.8285 | 21,134.2506 | 21,081.1105 | 21,098.7322 | 21,310.0712 | 21,098.7322 | |
| Invoices carrying Portuguese VAT, ex VAT | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 30,764.34 | 36,114.37 | 57,486.13 | 41,752.81 | 49,565.44 | 49,165.46 | 48,129.23 | 36,277.81 | 41,460.1237 | 57,931.1133 | 50,637.5017 | 35,102.6601 | 47,338.9716 | 39,304.5082 | 49,969.233 | 42,200.9573 | 44,974.5983 | 42,845.4264 | 38,900.6188 | 33,429.1311 | 39,836.6462 | 46,490.9144 | 40,214.6163 | 39,819.8692 | 534,386.9888 | 505,325.4908 | |
| Invoices incl. VAT (and the VAT-exempt OHS provider) | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 38,265.7182 | 44,873.8951 | 71,149.6399 | 51,792.6263 | 61,416.5312 | 60,928.0358 | 59,626.6229 | 45,069.4663 | 51,445.9522 | 71,705.2693 | 62,734.1271 | 43,626.2719 | 58,688.185 | 48,805.7951 | 61,923.4066 | 52,368.4275 | 55,780.006 | 53,161.1244 | 48,309.0111 | 41,579.0813 | 49,460.3248 | 57,645.0747 | 49,925.2281 | 49,439.6891 | 662,634.1562 | 627,085.3537 | |
| Paid | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | A: bank; F: prior balance | 41,041.89 | 38,265.72 | 44,873.9 | 71,149.64 | 51,792.63 | 61,416.53 | 60,928.04 | 59,626.62 | 45,069.4557 | 51,445.9522 | 71,705.2693 | 62,734.1271 | 43,626.2719 | 58,688.185 | 48,805.7951 | 61,923.4066 | 52,368.4275 | 55,780.006 | 53,161.1244 | 48,309.0111 | 41,579.0813 | 49,460.3248 | 57,645.0747 | 49,925.2281 | 660,049.7743 | 621,271.9365 |
| Payable: other suppliers | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 38,265.7182 | 44,873.8933 | 71,149.6332 | 51,792.6195 | 61,416.5207 | 60,928.0265 | 59,626.6094 | 45,069.4557 | 51,445.9522 | 71,705.2693 | 62,734.1271 | 43,626.2719 | 58,688.185 | 48,805.7951 | 61,923.4066 | 52,368.4275 | 55,780.006 | 53,161.1244 | 48,309.0111 | 41,579.0813 | 49,460.3248 | 57,645.0747 | 49,925.2281 | 49,439.6891 | 43,626.2719 | 49,439.6891 | |
| TOTAL TRADE PAYABLES | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 577,900.3871 | 417,638.2351 | 510,469.68 | 427,541.2976 | 440,769.9787 | 505,192.4959 | 412,290.9529 | 283,532.012 | 490,011.4541 | 489,521.3546 | 420,828.0181 | 405,621.3005 | 587,093.606 | 393,233.4736 | 434,385.687 | 385,387.946 | 402,434.2158 | 446,040.9122 | 357,688.8422 | 261,202.44 | 499,752.4234 | 475,713.1567 | 408,346.1676 | 412,305.8672 | 405,621.3005 | 412,305.8672 |
13-week cash forecast
Downside · EUR · 2026-01 to 2027-12 · A: actual · F: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Customer receipts: Portugal, incl. VAT (collected through the month) | 34,304.4572 | 34,304.4572 | 61,547.3843 | 129,654.7019 | 129,654.7019 | 129,654.7019 | 129,654.7019 | 156,732.9359 | 161,245.9749 | 161,245.9749 | 161,245.9749 | 157,879.281 | 155,354.2606 |
| Customer receipts: Spain | 4,327.6344 | 4,327.6344 | 7,738.7932 | 16,266.6902 | 16,266.6902 | 16,266.6902 | 16,266.6902 | 18,403.4785 | 18,759.6098 | 18,759.6098 | 18,759.6098 | 20,933.0476 | 22,563.126 |
| Distributor rebate and licence incentives (end of the second month after the quarter) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16,792.0372 | 0 |
| TOTAL RECEIPTS | 38,632.0916 | 38,632.0916 | 69,286.1775 | 145,921.3921 | 145,921.3921 | 145,921.3921 | 145,921.3921 | 175,136.4144 | 180,005.5847 | 180,005.5847 | 180,005.5847 | 195,604.3659 | 177,917.3866 |
| Net pay and meal cards (last working day; November carries the Christmas allowance) | 0 | 0 | -107,261.9133 | 0 | 0 | 0 | -110,111.1398 | 0 | 0 | 0 | 0 | -207,981.53 | 0 |
| Social security for the prior month (20th) | 0 | -46,692.32 | 0 | 0 | 0 | -44,632.556 | 0 | 0 | 0 | -45,543.148 | 0 | 0 | 0 |
| IRS withheld for the prior month (20th) | 0 | -20,916.9 | 0 | 0 | 0 | -20,024.9029 | 0 | 0 | 0 | -20,290.8986 | 0 | 0 | 0 |
| IRC withheld on rent (20th) | 0 | -2,625 | 0 | 0 | 0 | -2,625 | 0 | 0 | 0 | -2,625 | 0 | 0 | 0 |
| Work accident and health insurance (direct debit) | 0 | 0 | 0 | 0 | -3,581.094 | 0 | 0 | 0 | -3,649.3997 | 0 | 0 | 0 | -3,640.9225 |
| Direct debits: insurance, travel, telecoms and field vans | 0 | 0 | 0 | 0 | -15,707.9329 | 0 | 0 | 0 | -15,697.6949 | 0 | 0 | 0 | -15,687.2427 |
| Rent, net of the IRC withheld (first working day) | 0 | 0 | -7,875 | 0 | 0 | 0 | 0 | -7,875 | 0 | 0 | 0 | -7,875 | 0 |
| Hardware distributors (30 days) | -23,231.5065 | -23,231.5065 | -33,897.3464 | -60,561.9462 | -60,561.9462 | -60,561.9462 | -60,561.9462 | -58,974.9246 | -58,710.421 | -58,710.421 | -58,710.421 | -49,777.7735 | -43,078.2878 |
| Licence distributor (30 days) | -27,716.8968 | -27,716.8968 | -29,387.4388 | -33,563.7937 | -33,563.7937 | -33,563.7937 | -33,563.7937 | -33,741.7255 | -33,771.3808 | -33,771.3808 | -33,771.3808 | -33,301.2303 | -32,948.6174 |
| Tooling vendor in USD (wire on the 15th) | -21,705.3148 | 0 | 0 | 0 | -21,722.9396 | 0 | 0 | 0 | 0 | -21,465.5065 | 0 | 0 | 0 |
| Other suppliers incl. VAT and IT equipment (30 days) | -10,516.3784 | -10,516.3784 | -10,830.7926 | -11,616.8279 | -11,616.8279 | -11,616.8279 | -11,616.8279 | -16,000.6007 | -16,731.2295 | -16,731.2295 | -16,731.2295 | -15,265.253 | -14,165.7706 |
| VAT (25th; the September payment covers June and July) | 0 | -87,264.6245 | 0 | 0 | 0 | 0 | -50,238.0505 | 0 | 0 | 0 | -41,802.512 | 0 | 0 |
| IRC payments on account (30 September and 15 December) | 0 | 0 | -73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Loan instalment: principal and interest (month end) | 0 | 0 | -38,069.4412 | 0 | 0 | 0 | 0 | -37,916.6635 | 0 | 0 | 0 | -37,763.8857 | 0 |
| TOTAL PAYMENTS | -83,170.0966 | -218,963.6263 | -300,406.5248 | -105,742.5678 | -146,754.5343 | -173,025.0267 | -266,091.7581 | -154,508.9142 | -128,560.1258 | -199,137.5843 | -151,015.5432 | -351,964.6725 | -109,520.8411 |
| NET CASH FLOW FOR THE WEEK | -44,538.0049 | -180,331.5346 | -231,120.3473 | 40,178.8243 | -833.1422 | -27,103.6345 | -120,170.366 | 20,627.5002 | 51,445.459 | -19,131.9996 | 28,990.0416 | -156,360.3066 | 68,396.5455 |
| Opening cash | 956,708.1672 | 912,170.1623 | 731,838.6276 | 500,718.2803 | 540,897.1046 | 540,063.9625 | 512,960.3279 | 392,789.962 | 413,417.4621 | 464,862.9211 | 445,730.9215 | 474,720.9631 | 318,360.6565 |
| CLOSING CASH | 912,170.1623 | 731,838.6276 | 500,718.2803 | 540,897.1046 | 540,063.9625 | 512,960.3279 | 392,789.962 | 413,417.4621 | 464,862.9211 | 445,730.9215 | 474,720.9631 | 318,360.6565 | 386,757.2019 |
| Minimum cash buffer (board policy) | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 |
| HEADROOM / (SHORTFALL) VS BUFFER | 512,170.1623 | 331,838.6276 | 100,718.2803 | 140,897.1046 | 140,063.9625 | 112,960.3279 | -7,210.038 | 13,417.4621 | 64,862.9211 | 45,730.9215 | 74,720.9631 | -81,639.3435 | -13,242.7981 |
| Status | OK | OK | OK | OK | OK | OK | BELOW BUFFER | OK | OK | OK | OK | BELOW BUFFER | BELOW BUFFER |
| Measure | Value |
|---|---|
| low | 318,360.6565 |
| lowwk | 2026-12-04 |
| short | -81,639.3435 |
| fac | 300,000 |
| fachead | 218,360.6565 |
| taxwk | 458,365.505 |
| Measure | Value |
|---|---|
| rec close | 386,757.2019 |
| rec dec | -165,225.2081 |
| rec implied | 221,531.9938 |
| rec bs | 221,531.9938 |
| rec diff | 0 |
Schedules & controls
Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| Measure | Value |
|---|---|
| overall status | OK |
| 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 | 0.05 | 0.5 | OK |
| Closing cash on the cash flow equals balance sheet cash | Link integrity | 0 | 0.5 | OK |
| Retained earnings roll: closing = opening + net profit - dividends declared | Equity roll-forward to Dec-27 | 0 | 0.5 | OK |
| Opening balance sheet at 31-Dec-25 balances | FY2025 closing balances on Inputs_Actuals | 0 | 0.5 | OK |
| P&L revenue equals the revenue schedule, every month | Link integrity | 0 | 0.5 | OK |
| Register counts and prices reproduce the Dec-25 fees in History | Contract_Register agrees with the FY2025 billing | 0 | 0.5 | OK |
| Onboarding fees deferred equal the contract schedule, every month | IFRS 15.B48 to B51 over the 36-month term | 0 | 0.5 | OK |
| Annual licences billed ahead equal the billing schedule, every month | Twelve months of recognition per billing | 0 | 0.5 | OK |
| Prepaid licence cost equals the licence liability x (1 - margin), every month | Vendor cost follows the revenue | 0 | 0.5 | OK |
| SLA credits due equal the credits of the month, every month | Credited on the next invoice | 0 | 0.5 | OK |
| Project positions: change in contract liabilities less assets equals billing less revenue | Every project, every month | 0 | 0.5 | OK |
| Opening project contract balances agree with the Project_Register at 31-Dec-25 | Billed less revenue to date | 0 | 0.5 | OK |
| Rebates receivable equal the accruals of quarters not yet paid, every month | Quarterly tiers and payment timing | 0 | 0.5 | OK |
| Gross margin by service line reconciles to the P&L gross profit, every month | Revenue and cost of revenue fully allocated | 0 | 0.5 | OK |
| Contract contributions + onboarding + SLA credits equal the managed services margin (FY2026) | Allocation by desk hours, endpoints, users and devices is complete | 0 | 0.5 | OK |
| Remuneration equals net pay plus employee social security and IRS, every month | Payroll journal integrity | 0 | 0.5 | OK |
| Social security payable at each forecast month end equals the month due | Paid by the 20th of the following month | 0 | 0.5 | OK |
| IRS withheld payable at each forecast month end equals the month due | Paid by the 20th of the following month | 0 | 0.5 | OK |
| Christmas allowance accrual is nil at each December | Paid with the November payroll, trued up in December | 0 | 0.5 | OK |
| Opening holiday accrual equals two months of Dec-25 pay by band, incl. TSU | 22 days and the holiday allowance vested on 1 January | 0 | 0.5 | OK |
| Every band salary is at or above the national minimum wage | EUR 920 from January 2026 | 230 | 0 | OK |
| VAT payable equals the returns not yet paid, every month | Monthly regime, payment in the second month | 0 | 0.5 | OK |
| IRC payable at Dec-26 equals FY2026 tax less its payments on account | Tax roll-forward | 0 | 0.5 | OK |
| IRC payable at Dec-27 equals FY2027 tax less its payments on account (FY2026 settled) | Balance and refund of FY2026 in 2027 | 0 | 0.5 | OK |
| FY2026 and FY2027 tax = SME rate to EUR 50,000 + general rate + derrama on taxable profit | IRC arithmetic | 0 | 0.5 | OK |
| Payments on account: September 2026 = 95% x FY2025 IRC / 3; FY2027 = 95% x FY2026 IRC | CIRC art. 104 and 105 | 0 | 0.5 | OK |
| IRC withheld on rent payable at each forecast month end equals 25% of the month rent | Paid by the 20th of the following month | 0 | 0.5 | OK |
| AR aging: customers in Portugal tie to the ledger | Item listing agrees with the balance at the last actual month | 0 | 0.5 | OK |
| AR aging: customers in Spain tie to the ledger | Item listing agrees with the balance at the last actual month | 0 | 0.5 | OK |
| AP aging: Hardware distributors tie to the Payables schedule | 0 | 0.5 | OK | |
| AP aging: Licence distributor tie to the Payables schedule | 0 | 0.5 | OK | |
| AP aging: Tooling vendor (USD) tie to the Payables schedule | 0 | 0.5 | OK | |
| AP aging: Other suppliers tie to the Payables schedule | 0 | 0.5 | OK | |
| Forecast receivables equal the collection rule every month | Receipts never collect an invoice twice when the days change | 0 | 0.5 | OK |
| USD payable at each month end equals the month invoice at the month rate | Exchange differences taken on settlement (IAS 21) | 0 | 0.5 | OK |
| Loan balance at Dec-27 = opening less principal repaid | Loan roll-forward | 0 | 0.5 | OK |
| Dividends and the IRS withheld on them are fully paid by each year end | Declared, paid, withholding paid to the State | 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 revenue causes reconcile (YTD and FY) | Contract groups and revenue streams explain the full variance | 0 | 0.5 | OK |
| EBITDA walk from budget to actual reconciles | Variances explain the full EBITDA gap | 0 | 0.5 | OK |
| Customer receivables never negative | 152,960.428 | 0.5 | OK | |
| Trade payables never negative | 19,237.6251 | 0.5 | OK | |
| Users, devices and fees never negative (every contract, every month) | 0 | 0.001 | OK | |
| Project hours and provisions never negative | 0 | 0.001 | OK | |
| Contract liabilities, prepaid licences and stock never negative | 7,468.75 | 0.5 | OK | |
| Headcount never negative | 0.947 | 0 | OK | |
| Fixed assets, customer relationships and the loan never negative | 78,609.3134 | 0 | OK | |
| Timeline: months flagged actual equal the last actual month number | 0 | 0.5 | OK |
| item | note | value |
|---|---|---|
| Lowest month-end cash in the forecast (selected scenario) | Board buffer: Assumptions | 208,464.7586 |
| Headroom over the buffer at the lowest point | Negative = below the board buffer | -191,535.2414 |
| Lowest 13-week closing cash | 318,360.6565 | |
| Debt service cover at the December 2026 test | Covenant at least 1.2x; a breach also blocks the 2027 dividend | 0.7653 |
| Net debt / EBITDA at the December 2026 test | Covenant at most 2.5x | 0.948 |
| Highest forecast service desk utilisation | Above the knee on Assumptions SLA credits start | 0.9431 |
| Net revenue retention at Dec-27 | Below 100% the contract base shrinks without new sales | 0.9197 |
| Largest contract share of FY2026 managed services revenue | Above 10% is a concentration risk | 0.1017 |
| Disputed J11 milestone open at the last actual month (EUR) | Month and credit share are scenario drivers | 21,600 |
| Onerous project provision at the last actual month (EUR) | J01 ERP migration | 2,507.14 |
| Distributor rebate tier expected for Q3-26 | 2.5% budgeted | 0.015 |
| type | label | unit | value | note | base | downside | upside | selected | ytd actual reference |
|---|---|---|---|---|---|---|---|---|---|
| scalar | Company name | Quelvora Sistemas, Lda (fictional demonstration company) | All figures fictional. Portuguese private limited company (Lda) in Porto, founded 2009, owned by its two founders; financial year = calendar year; EUR. Management accounts under IFRS; statutory accounts under SNC, differences not modelled. | ||||||
| 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 | 400,000 | Board policy: one month of payroll, social security and supplier runs; used by the 13-week cash forecast and the CFO report | |||||
| scalar | Undrawn overdraft facility available | EUR | 300,000 | Committed credit line (conta caucionada) with the lending bank, undrawn | |||||
| scalar | Aged receivables and payables: as-at date | calc | 2026-08-31 | ||||||
| scalar | VAT (IVA): standard rate, mainland | rate | 0.23 | Código do IVA art. 18; charged to customers in Portugal | |||||
| scalar | Corporate income tax (IRC): general rate FY2026 | rate | 0.19 | CIRC art. 87 as amended by Lei 64/2025: 19% for 2026, 18% for 2027, 17% from 2028 | |||||
| scalar | IRC: general rate FY2027 | rate | 0.18 | ||||||
| scalar | IRC: SME rate on the first EUR 50,000 of taxable profit | rate | 0.15 | CIRC art. 87(2): 15% from 2026 (FY2025: 20% and 16%, Lei 45-A/2024). The company is an SME | |||||
| scalar | IRC: SME band | EUR | 50,000 | ||||||
| scalar | Municipal surcharge (derrama), Porto | rate | 0.015 | Ofício Circulado 20288/2026 (rates for collection in 2026): Porto 1.5% (0.75% only below EUR 150,000 of turnover). State surcharge starts at EUR 1.5m of taxable profit: not reached | |||||
| scalar | IRC assessed for FY2025 (before derrama), base for the FY2026 payments on account | EUR | 230,793.45 | FY2025 return (fictional) | |||||
| scalar | Payments on account: share of the prior-year tax (turnover above EUR 500,000) | rate | 0.95 | CIRC art. 105: 95%, in three instalments due in July, September and by 15 December (art. 104) | |||||
| scalar | Limit the third FY2026 payment on account (1 = yes, 0 = pay in full) | switch | 0 | CIRC art. 107: the third instalment may be stopped or limited when the payments made already cover the tax due; compensatory interest applies if the tax proves more than 20% higher | |||||
| scalar | IRC balance for FY2025 (paid with the Modelo 22) | EUR | 105,752.96 | Filing and payment deadline extended to 19 June 2026 (Despacho n.º 68/2026-XXV of 12 May 2026) | |||||
| scalar | Month an IRC overpayment for FY2026 is refunded | month | 2027-09-30 | Assumption: about three months after the May filing; information needed: the tax authority refund date | |||||
| scalar | IRC withheld on rent paid to the landlord company | rate | 0.25 | CIRC art. 94(1)(c) and (4): 25%; paid to the State by the 20th of the following month (art. 94(6)) | |||||
| scalar | IRS withheld on dividends paid to the resident individual shareholders | rate | 0.28 | CIRS art. 71(1)(a): 28% final withholding; paid by the 20th of the following month (CIRS art. 98(3)) | |||||
| scalar | Social security (TSU): employer | rate | 0.2375 | Código Contributivo: 23.75% employer, 11% employee, on salaries and both allowances | |||||
| scalar | Social security (TSU): employee | rate | 0.11 | ||||||
| scalar | Meal allowance on card per working day | EUR | 10 | Below the 2026 exempt limit of EUR 10.455 on a meal card (idealista.pt, public sector allowance EUR 6.15 + 70%): no TSU, no IRS | |||||
| scalar | Working days a month | days | 21 | ||||||
| scalar | Holiday entitlement (working days a year) | days | 22 | ||||||
| scalar | Work accident insurance premium on remuneration | rate | 0.009 | Mandatory insurance (assumption: 0.90% for office and field IT staff); information needed: the policy rate | |||||
| scalar | Health insurance per head a month | EUR | 32 | Company plan (fictional) | |||||
| scalar | National minimum wage 2026 (monthly) | EUR | 920 | Decreto-Lei 139/2025: EUR 920 from 1 January 2026 (every band is above it) | |||||
| scalar | IRS withholding 2026, Tabela I (single, no dependants): monthly remuneration from | Up to | Marginal rate | Amount deducted | |||||
| scalar | 1,154.01 | 1,212 | 0.212 | 158.18 | |||||
| scalar | 1,212.01 | 1,819 | 0.241 | 193.33 | |||||
| scalar | 1,819.01 | 2,119 | 0.311 | 320.66 | |||||
| scalar | 2,119.01 | 2,499 | 0.349 | 401.19 | |||||
| scalar | 2,499.01 | 3,305 | 0.3836 | 487.66 | |||||
| scalar | 3,305.01 | 5,547 | 0.3969 | 531.62 | |||||
| scalar | 5,547.01 | 20,221 | 0.4495 | 823.4 | |||||
| scalar | 20,221.01 | 999,999 | 0.4717 | 1,272.31 | |||||
| scalar | Band | Code | Department | Monthly salary FY2026 | |||||
| scalar | Service desk analysts | L1 | SVC | 1,200 | |||||
| scalar | Support engineers | L2 | SVC | 1,650 | |||||
| scalar | Systems engineers | L3 | SVC | 2,350 | |||||
| scalar | Field technicians | FLD | SVC | 1,300 | |||||
| scalar | NOC and security analysts | NOC | SVC | 1,750 | |||||
| scalar | Service delivery managers | SDM | SVC | 2,650 | |||||
| scalar | Project engineers | PEN | PRJ | 2,150 | |||||
| scalar | Project managers | PM | PRJ | 2,850 | |||||
| scalar | Sales director | SD | SM | 3,600 | |||||
| scalar | Account managers | AM | SM | 2,000 | |||||
| scalar | Presales engineer | PSE | SM | 2,600 | |||||
| scalar | Marketing | MKT | SM | 1,800 | |||||
| scalar | Directors (CEO and CTO, founders) | DIR | GA | 5,000 | |||||
| scalar | Finance | FIN | GA | 2,000 | |||||
| scalar | People and HR | HR | GA | 1,700 | |||||
| scalar | Procurement and logistics | PRC | GA | 1,300 | |||||
| scalar | Office administration | ADM | GA | 1,150 | |||||
| scalar | Attrition a year, base: service delivery | rate | 0.14 | Company history and the Porto market for IT roles (company assumption) | |||||
| scalar | Attrition a year, base: projects | rate | 0.1 | ||||||
| scalar | Attrition a year, base: sales and marketing | rate | 0.15 | ||||||
| scalar | Attrition a year, base: general and administrative | rate | 0.06 | ||||||
| scalar | Equipment per new hire | EUR | 1,300 | ||||||
| scalar | IT replacement cycle, capex a month | EUR | 1,800 | ||||||
| scalar | Recruitment cost per hire | EUR | 2,200 | ||||||
| scalar | Sales commission: share of the first-year value of new managed contracts | rate | 0.06 | Commission plan FY2026 (fictional), paid with the next payroll. Capitalised with its TSU as a cost of obtaining a 36-month contract and amortised over the term (IFRS 15.91 and 99); no commission on renewals | |||||
| scalar | Sales commission: share of hardware gross margin | rate | 0.03 | Expensed: it relates to hardware delivered in the month | |||||
| scalar | Managed service contract term (months) | months | 36 | Renewal every 36 months at the probability on the Contract_Register; price review at each anniversary | |||||
| scalar | Price review applied at anniversaries Jan to Aug 2026 (actual) | rate | 0.026 | Contract clause (fictional); forecast anniversaries use the scenario driver | |||||
| scalar | Onboarding fee per user at contract start | EUR | 45 | Not a distinct service: recognised over the 36-month term (IFRS 15.B48 to B51); deferred balance is a contract liability | |||||
| scalar | Bundled licences: share of users covered | share | 0.85 | Per-user productivity and security subscriptions provisioned and supported inside the managed contract: principal (IFRS 15.B35A(b)), revenue monthly | |||||
| scalar | Bundled licences: price per user a month FY2026 | EUR | 20.5 | ||||||
| scalar | Bundled licences: vendor cost per user a month FY2026 | EUR | 17.3 | ||||||
| scalar | Bundled licences: vendor price change 1-Jan-27, passed through at the same margin | rate | 0.03 | Assumption; information needed: the vendor price list for 2027 | |||||
| scalar | Tickets a month per user | tickets | 0.42 | PSA ticket history FY2025 (fictional) | |||||
| scalar | Tickets a month per device | tickets | 0.17 | ||||||
| scalar | Tickets: share P1 | share | 0.03 | P1 critical to P4 low | |||||
| scalar | Hours per ticket P1 | hours | 3.5 | ||||||
| scalar | Tickets: share P2 | share | 0.12 | ||||||
| scalar | Hours per ticket P2 | hours | 1.8 | ||||||
| scalar | Tickets: share P3 | share | 0.55 | ||||||
| scalar | Hours per ticket P3 | hours | 0.9 | ||||||
| scalar | Tickets: share P4 | share | 0.3 | ||||||
| scalar | Hours per ticket P4 | hours | 0.45 | ||||||
| scalar | Average hours per ticket (weighted) | calc | 0.951 | ||||||
| scalar | Proactive hours a month per device (patching, monitoring, backups) | hours | 1.15 | ||||||
| scalar | Proactive hours a month per user (endpoint management) | hours | 0.19 | ||||||
| scalar | Share of proactive work deferred in proportion to holidays | share | 0.5 | ||||||
| scalar | Onboarding hours per new user (start month) | hours | 2 | ||||||
| scalar | Productive hours per service desk FTE a month before holidays | hours | 126 | 8 hours x 21 days x 75% (training, meetings, administration, absence) | |||||
| scalar | SLA attainment at or below the utilisation knee | share | 0.985 | Fitted to FY2025 and FY2026 PSA data: attainment = max - slope x (utilisation - knee) | |||||
| scalar | Utilisation knee | share | 0.8 | ||||||
| scalar | Slope of attainment above the knee | x | 0.65 | ||||||
| scalar | Contractual SLA target (share of tickets inside response and resolution times) | share | 0.96 | ||||||
| scalar | Band over which breaches spread across the contract base | share | 0.1 | Share of fees in breach = (target - attainment) / band, capped at 100% | |||||
| scalar | SLA credit: share of the monthly fee of a contract in breach | share | 0.05 | Variable consideration (IFRS 15.50 to 59): estimated in the month of the service, credited on the next invoice | |||||
| scalar | Annual licences: margin (vendor cost 76% of billing, prepaid for the year) | share | 0.24 | Security and backup subscriptions bought in the company name and managed by it: principal; billed a year ahead, revenue and cost over 12 months | |||||
| scalar | Annual licences: share billed to customers in Portugal | share | 0.88 | ||||||
| scalar | Licences resold as agent: commission (gross billing less vendor cost) | share | 0.115 | Standard licences delivered by the manufacturer straight to the customer; the company never controls them (IFRS 15.B34 to B38; IFRIC agenda decision, Principal versus Agent: Software Reseller, 2022): revenue is the net commission | |||||
| scalar | Licences resold as agent: gross billing run-rate a month before seasonality | EUR | 57,100 | Jan to Jul 2026 average | |||||
| scalar | Licences resold as agent: share billed in Portugal | share | 0.9 | ||||||
| scalar | Hardware: revenue run-rate a month before seasonality | EUR | 208,000 | Jan to Jul 2026 average; FY2025 was lifted by the desktop refresh cycle | |||||
| scalar | Hardware: share delivered to customers in Spain (exempt intra-EU supply) | share | 0.12 | Principal: the company buys, holds and configures the hardware and sets the price (IFRS 15.B37); revenue on delivery | |||||
| scalar | Hardware: stock in days of cost of sales | days | 14 | ||||||
| scalar | Distributor rebate: quarterly purchases for tier 1 | EUR | 450,000 | Distributor programme 2026 (fictional): 1.5% from EUR 450k a quarter, 2.5% from EUR 650k; paid at the end of the second month after the quarter | |||||
| scalar | Distributor rebate: quarterly purchases for tier 2 | EUR | 650,000 | ||||||
| scalar | Distributor rebate: tier 1 rate | rate | 0.015 | ||||||
| scalar | Distributor rebate: tier 2 rate | rate | 0.025 | ||||||
| scalar | Licence vendor incentive on licence purchases | rate | 0.03 | Paid 45 days after the quarter. Rebates on purchases reduce cost of sales (IAS 2.11); the incentive on agent sales is part of the agent revenue | |||||
| scalar | Projects: standard cost of an own hour (loaded payroll) | EUR | 30 | Used for the onerous test (IAS 37.66 to 69 and 68A: direct labour and costs that relate directly) | |||||
| scalar | Projects: specialist subcontractor rate per hour | EUR | 82 | ||||||
| scalar | New project work: average realised rate per hour | EUR | 68 | ||||||
| scalar | New project work: share done by own staff | share | 0.9 | ||||||
| scalar | New project work not yet identified: first month | month | 2026-10-31 | Unidentified work fills the gap between the signed projects on the Project_Register and the scenario run-rate | |||||
| scalar | New project work: share billed in Portugal | share | 0.85 | FY2025 project billing split | |||||
| scalar | Collection days: customers in Portugal | days | 38 | FY2026 experience; invoices monthly in advance on 30 to 60-day terms | |||||
| scalar | Collection days: customers in Spain | days | 55 | ||||||
| scalar | Disputed J11 final milestone (Talleres Brañoso, invoiced June) | EUR | 21,600 | See AR_Aging | |||||
| scalar | Service tooling: price per endpoint a month | USD | 3.4 | RMM, PSA, endpoint security and backup platforms; US vendor invoicing in USD, paid on the 15th of the next month | |||||
| scalar | Service tooling: platform fee a month | USD | 4,500 | ||||||
| scalar | Endpoints per user (plus every managed device) | x | 1.1 | ||||||
| scalar | Colocation and backup storage: fixed a month | EUR | 7,800 | ||||||
| scalar | Colocation and backup storage per managed device | EUR | 0.9 | ||||||
| scalar | Field vans: rental, fuel and tolls per van a month | EUR | 790 | One van per field technician plus a pool van; VAT not recovered (simplification) | |||||
| scalar | Cabling and electrical subcontractors a month | EUR | 1,500 | ||||||
| scalar | Office rent, Porto (VAT exempt; 25% IRC withheld) | EUR | 10,500 | Lease to Dec-29 (fictional); paid monthly net of 25% IRC withheld | |||||
| scalar | Statutory audit, legal and tax advisers | EUR | 4,800 | Profile: x2.4 in March (statutory audit), x0.87 in other months | |||||
| scalar | Insurance (general liability, property, cyber) | EUR | 1,900 | ||||||
| scalar | Marketing and events | EUR | 6,500 | Profile: x1.8 in May and October (events), x0.5 in August, x0.93 in other months | |||||
| scalar | Training and certifications | EUR | 3,800 | ||||||
| scalar | Recruitment | EUR | 400 | Plus EUR 2,200 per hire (People) | |||||
| scalar | Travel (VAT not recovered) | EUR | 3,200 | ||||||
| scalar | Telecoms and internal IT | EUR | 4,200 | ||||||
| scalar | Office services and utilities | EUR | 2,700 | ||||||
| scalar | Occupational health and safety | EUR | 450 | ||||||
| scalar | Overhead inflation applied from FY2027 | rate | 0.025 | ||||||
| scalar | Bank term loan at 31-Dec-25 (acquisition of a Braga managed services business, April 2024) | EUR | 1,300,000 | EUR 2.0m over 60 months from April 2024, monthly principal; Euribor 3M + 2.25% (fictional) | |||||
| scalar | Monthly principal repayment | EUR | 33,333.33 | ||||||
| scalar | Loan margin over Euribor 3M | rate | 0.0225 | ||||||
| scalar | Covenant: net debt / EBITDA (last 12 months) at most | x | 2.5 | Tested at June and December; dividends allowed up to 50% of the prior-year net profit while covenants are met | |||||
| scalar | Covenant: debt service cover (EBITDA - tax paid - capex) / (principal + interest), last 12 months, at least | x | 1.2 | ||||||
| scalar | Dividend on FY2025 profit (approved 30 March 2026, paid 29 May 2026) | EUR | 360,000 | Paid net of 28% IRS; the withholding paid on 20 June | |||||
| scalar | Loan agreement: dividends capped at a share of the prior-year net profit | share | 0.5 | And only while both covenants are met at the December test (fictional loan agreement) | |||||
| scalar | Depreciation of IT equipment held at 31-Dec-25 a month | EUR | 3,100 | New IT equipment over 36 months | |||||
| scalar | Depreciation of the office fit-out a month | EUR | 1,166.67 | ||||||
| scalar | Amortisation of acquired customer relationships a month | EUR | 5,000 | EUR 480k over 8 years (IFRS 3, IAS 38); goodwill of EUR 920k is not amortised and is tested for impairment each year (IAS 36) | |||||
| scalar | Driver | Unit | Base | Downside | |||||
| scenario_driver | Users and devices: growth (x contract rates on the register) | x | FY2026 year to date 0.2% a month on average | 1 | 0.5 | 1.3 | 0.5 | ||
| scenario_driver | Price review at anniversaries from Sep-26 | rate | Actual 2026 reviews: 2.6% | 0.03 | 0.015 | 0.035 | 0.015 | 0.026 | |
| scenario_driver | Price change at the 36-month renewal | rate | On top of the anniversary review; renewal probabilities by contract sit on the Contract_Register | 0 | -0.05 | 0.02 | -0.05 | ||
| scenario_driver | Pipeline contracts: start delay | months | 0 | 2 | 0 | 2 | |||
| scenario_driver | Hardware demand (x run-rate) | x | Jan to Jul 2026 average EUR 208k a month before seasonality | 1 | 0.85 | 1.1 | 0.85 | 1.0178 | |
| scenario_driver | Hardware margin before rebates | share | FY2026 year to date 12.8% | 0.128 | 0.115 | 0.133 | 0.115 | 0.1281 | |
| scenario_driver | Annual licence billings: change on the same month a year earlier | rate | 0.04 | 0 | 0.06 | 0 | 0.0688 | ||
| scenario_driver | Licences resold as agent (x run-rate) | x | 1 | 0.85 | 1.1 | 0.85 | 1.058 | ||
| scenario_driver | Project revenue run-rate a month: signed projects topped up with work not yet identified (from Oct-26) | EUR | FY2025: EUR 103k a month; Jan to Aug 2026: EUR 67k a month; x the FY2025 seasonal profile | 90,000 | 65,000 | 110,000 | 65,000 | ||
| scenario_driver | J01: extra hours to complete (share of the remaining estimate) | share | Downside: the data migration needs more specialist time | 0 | 0.2 | 0 | 0.2 | ||
| scenario_driver | Planned hires made (share of the hiring plan on People) | share | Downside response: a quarter of the plan held back | 1 | 0.75 | 1 | 0.75 | ||
| scenario_driver | Leavers replaced (share) | share | 1 | 0.75 | 1 | 0.75 | |||
| scenario_driver | Attrition (x base rates) | x | 1 | 0.8 | 1 | 0.8 | |||
| scenario_driver | Pay review January 2027 | rate | The accrued holiday entitlement is revalued in December for the review | 0.03 | 0.02 | 0.035 | 0.02 | ||
| scenario_driver | Extra days to collect from customers | days | 0 | 15 | 0 | 15 | |||
| scenario_driver | Euribor 3M from Sep-26 | rate | Monthly averages Jan to Aug 2026: 2.14% rising to 2.71% (EMMI data, idealista.pt) | 0.0275 | 0.0325 | 0.024 | 0.0325 | 0.0244 | |
| scenario_driver | USD per EUR, forecast | rate | Base: ECB reference rate of 22-Sep-26 | 1.1463 | 1.08 | 1.18 | 1.08 | 1.1624 | |
| scenario_driver | Dividend on FY2026 profit, paid May 2027 (share of net profit) | share | Loan agreement cap 50% of the prior-year net profit | 0.4 | 0 | 0.45 | 0 | ||
| scenario_driver | Disputed J11 milestone: month collected | month | 2026-10-31 | 2026-12-31 | 2026-10-31 | 2026-12-31 | |||
| scenario_driver | Disputed J11 milestone: share credited | share | 0 | 0.25 | 0 | 0.25 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C01 Brevanor Têxteis, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 422 | 423 | 422 | 423 | 423 | 424 | 424 | 425 | 0 | |||||||||||||||||
| C02 Clínicas Almedra, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 260 | 262 | 262 | 263 | 265 | 266 | 267 | 269 | 0 | |||||||||||||||||
| C03 Solvinha Calçado, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 150 | 151 | 152 | 152 | 153 | 153 | 153 | 153 | 0 | |||||||||||||||||
| C04 Valcorra Advogados: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 95 | 95 | 96 | 96 | 96 | 95 | 96 | 0 | |||||||||||||||||
| C05 Colégios Maravel: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 311 | 312 | 312 | 312 | 312 | 312 | 313 | 314 | 0 | |||||||||||||||||
| C06 Metalúrgica Vaurinho, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 121 | 121 | 122 | 122 | 121 | 122 | 122 | 122 | 0 | |||||||||||||||||
| C07 Quintas Delvara, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 86 | 86 | 87 | 87 | 87 | 87 | 88 | 88 | 0 | |||||||||||||||||
| C08 Farmácias Oliveda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 180 | 181 | 182 | 183 | 184 | 185 | 185 | 185 | 0 | |||||||||||||||||
| C09 Moldivel Plásticos, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 139 | 140 | 140 | 141 | 142 | 142 | 142 | 143 | 0 | |||||||||||||||||
| C10 Pravel Contabilidade, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 60 | 60 | 60 | 60 | 60 | 61 | 61 | 61 | 0 | |||||||||||||||||
| C11 Hotéis Alvenosa: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 130 | 131 | 131 | 131 | 131 | 131 | 131 | 132 | 0 | |||||||||||||||||
| C12 Cerâmicas Lovredo, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 110 | 110 | 111 | 110 | 110 | 111 | 111 | 111 | 0 | |||||||||||||||||
| C13 Castelvi Imobiliária: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 70 | 70 | 70 | 71 | 71 | 71 | 71 | 71 | 0 | |||||||||||||||||
| C14 Agrícola Vinhedal: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 90 | 91 | 91 | 91 | 92 | 92 | 92 | 92 | 0 | |||||||||||||||||
| C15 Engenharia Morvelo, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 75 | 76 | 76 | 77 | 77 | 77 | 77 | 78 | 0 | |||||||||||||||||
| C16 Cooperativa Leiteira Bravanha: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 160 | 160 | 160 | 161 | 160 | 161 | 161 | 162 | 0 | |||||||||||||||||
| C17 Laboratórios Cendral, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 116 | 116 | 117 | 118 | 118 | 119 | 119 | 119 | 0 | |||||||||||||||||
| C18 Mediavir Seguros: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 55 | 55 | 55 | 55 | 55 | 56 | 56 | 56 | 0 | |||||||||||||||||
| C19 Construtora Arvedo, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 145 | 145 | 145 | 145 | 146 | 146 | 147 | 147 | 0 | |||||||||||||||||
| C20 Distribuidora Pellano, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 125 | 126 | 126 | 127 | 127 | 127 | 128 | 128 | 0 | |||||||||||||||||
| C21 Gráfica Tornavel, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 0 | |||||||||||||||||
| C22 Óticas Lumarel: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 96 | 96 | 96 | 96 | 96 | 97 | 97 | 0 | |||||||||||||||||
| C23 Salmeira Arquitetos: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 41 | 41 | 41 | 41 | 41 | 0 | |||||||||||||||||
| C24 Traslovia Transportes, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 151 | 151 | 150 | 150 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| C25 Conservas Brelmar, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 140 | 141 | 142 | 142 | 141 | 141 | 142 | 143 | 0 | |||||||||||||||||
| C26 Talleres Brañoso, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 90 | 90 | 90 | 91 | 91 | 91 | 91 | 92 | 0 | |||||||||||||||||
| C27 Clínica Veigadal, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 70 | 70 | 71 | 71 | 72 | 72 | 72 | 73 | 0 | |||||||||||||||||
| C28 Maderas Ouriñal, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 80 | 80 | 81 | 81 | 81 | 81 | 81 | 80 | 0 | |||||||||||||||||
| C29 Pesqueras Morazal, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 95 | 95 | 95 | 95 | 95 | 94 | 95 | 0 | |||||||||||||||||
| C30 Bodegas Quenlla, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 55 | 55 | 56 | 56 | 56 | 56 | 56 | 56 | 0 | |||||||||||||||||
| C31 Ferroval Automação, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 80 | 80 | 81 | 81 | 81 | 81 | 0 | |||||||||||||||||
| C32 Clínica Dentária Rosmel: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 66 | 66 | 67 | 67 | 0 | |||||||||||||||||
| C33 Mobiliário Tarvela, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 0 | 0 | 108 | 109 | 0 | |||||||||||||||||
| C01: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 95 | 95 | 96 | 96 | 96 | 96 | 96 | 0 | |||||||||||||||||
| C02: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 0 | |||||||||||||||||
| C03: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 0 | |||||||||||||||||
| C04: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 0 | |||||||||||||||||
| C05: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 85 | 85 | 85 | 85 | 86 | 86 | 86 | 87 | 0 | |||||||||||||||||
| C06: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 0 | |||||||||||||||||
| C07: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 30 | 30 | 30 | 30 | 31 | 31 | 31 | 31 | 0 | |||||||||||||||||
| C08: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 90 | 90 | 91 | 91 | 91 | 91 | 91 | 91 | 0 | |||||||||||||||||
| C09: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 0 | |||||||||||||||||
| C10: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 0 | |||||||||||||||||
| C11: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 0 | |||||||||||||||||
| C12: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 0 | |||||||||||||||||
| C13: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 0 | |||||||||||||||||
| C14: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 0 | |||||||||||||||||
| C15: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 0 | |||||||||||||||||
| C16: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 52 | 52 | 52 | 52 | 52 | 53 | 52 | 52 | 0 | |||||||||||||||||
| C17: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 42 | 42 | 42 | 43 | 43 | 43 | 43 | 43 | 0 | |||||||||||||||||
| C18: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 0 | |||||||||||||||||
| C19: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 0 | |||||||||||||||||
| C20: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 0 | |||||||||||||||||
| C21: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 0 | |||||||||||||||||
| C22: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 50 | 50 | 50 | 50 | 51 | 51 | 51 | 51 | 0 | |||||||||||||||||
| C23: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 0 | |||||||||||||||||
| C24: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 40 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| C25: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 45 | 45 | 46 | 46 | 46 | 46 | 47 | 47 | 0 | |||||||||||||||||
| C26: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 0 | |||||||||||||||||
| C27: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 0 | |||||||||||||||||
| C28: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 0 | |||||||||||||||||
| C29: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 0 | |||||||||||||||||
| C30: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 0 | |||||||||||||||||
| C31: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 28 | 28 | 28 | 28 | 28 | 29 | 0 | |||||||||||||||||
| C32: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 20 | 20 | 20 | 20 | 0 | |||||||||||||||||
| C33: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 0 | 0 | 33 | 33 | 0 | |||||||||||||||||
| C01: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 22,327 | 22,365.5 | 22,907.5 | 23,012.67 | 23,012.67 | 23,052.17 | 23,052.17 | 23,091.67 | 182,821.35 | |||||||||||||||||
| C02: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 15,500 | 15,588 | 15,588 | 16,038.43 | 16,128.72 | 16,173.86 | 16,219.01 | 16,309.3 | 127,545.32 | |||||||||||||||||
| C03: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,090 | 8,130 | 8,170 | 8,170 | 8,210 | 8,210 | 8,210 | 8,210 | 65,400 | |||||||||||||||||
| C04: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,524 | 6,524 | 6,693.62 | 6,746.98 | 6,746.98 | 6,746.98 | 6,693.62 | 6,746.98 | 53,423.16 | |||||||||||||||||
| C05: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 13,099 | 13,128 | 13,128 | 13,128 | 13,176 | 13,176 | 13,205 | 13,627.33 | 105,667.33 | |||||||||||||||||
| C06: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,552.39 | 7,552.39 | 7,594.45 | 7,594.45 | 7,552.39 | 7,594.45 | 7,594.45 | 7,594.45 | 60,629.42 | |||||||||||||||||
| C07: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,730 | 5,878.98 | 5,925.15 | 5,925.15 | 5,988.76 | 5,988.76 | 6,034.93 | 6,034.93 | 47,506.66 | |||||||||||||||||
| C08: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 11,357.82 | 11,397.83 | 11,484.02 | 11,524.03 | 11,564.05 | 11,604.06 | 11,604.06 | 11,604.06 | 92,139.93 | |||||||||||||||||
| C09: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,395 | 8,435 | 8,435 | 8,475 | 8,515 | 8,515 | 8,736.39 | 8,777.43 | 68,283.82 | |||||||||||||||||
| C10: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 3,840 | 3,840 | 3,840 | 3,840 | 3,840 | 3,890 | 3,890 | 3,890 | 30,870 | |||||||||||||||||
| C11: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,930 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 8,212.1 | 63,944.1 | |||||||||||||||||
| C12: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,706 | 6,706 | 6,747 | 6,706 | 6,706 | 6,747 | 6,747 | 6,747 | 53,812 | |||||||||||||||||
| C13: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 4,280 | 4,280 | 4,391.28 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 35,148.78 | |||||||||||||||||
| C14: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,134 | 5,173 | 5,173 | 5,173 | 5,347.51 | 5,347.51 | 5,347.51 | 5,347.51 | 42,043.04 | |||||||||||||||||
| C15: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,075 | 5,124 | 5,124 | 5,173 | 5,307.5 | 5,307.5 | 5,307.5 | 5,357.77 | 41,776.27 | |||||||||||||||||
| C16: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,724 | 8,724 | 8,724 | 8,760 | 8,724 | 8,817 | 8,760 | 8,796 | 70,029 | |||||||||||||||||
| C17: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,192 | 8,192 | 8,238 | 8,352 | 8,352 | 8,398 | 8,398 | 8,616.35 | 66,738.35 | |||||||||||||||||
| C18: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 3,290 | 3,290 | 3,290 | 3,290 | 3,290 | 3,424.79 | 3,424.79 | 3,424.79 | 26,724.37 | |||||||||||||||||
| C19: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,790 | 7,992.54 | 7,992.54 | 7,992.54 | 8,031.53 | 8,031.53 | 8,070.52 | 8,070.52 | 63,971.72 | |||||||||||||||||
| C20: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,382.07 | 7,422.08 | 7,422.08 | 7,462.1 | 7,462.1 | 7,462.1 | 7,502.11 | 7,502.11 | 59,616.75 | |||||||||||||||||
| C21: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,278.42 | 4,278.42 | 33,576.84 | |||||||||||||||||
| C22: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,715 | 5,752 | 5,752 | 5,752 | 5,796 | 5,796 | 5,833 | 5,833 | 46,229 | |||||||||||||||||
| C23: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 2,728 | 2,728 | 2,728 | 2,780 | 2,780 | 2,780 | 2,780 | 2,780 | 22,084 | |||||||||||||||||
| C24: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,289 | 8,289 | 8,250 | 8,250 | 0 | 0 | 0 | 0 | 33,078 | |||||||||||||||||
| C25: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,900 | 8,943 | 9,050 | 9,285.3 | 9,241.18 | 9,241.18 | 9,350.96 | 9,395.08 | 73,406.7 | |||||||||||||||||
| C26: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,204 | 6,204 | 6,204 | 6,248 | 6,248 | 6,248 | 6,248 | 6,455.59 | 50,059.59 | |||||||||||||||||
| C27: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 4,442 | 4,557.49 | 4,605.71 | 4,605.71 | 4,653.94 | 4,653.94 | 4,653.94 | 4,702.16 | 36,874.89 | |||||||||||||||||
| C28: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,050 | 5,050 | 5,091 | 5,091 | 5,091 | 5,091 | 5,091 | 5,050 | 40,605 | |||||||||||||||||
| C29: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,108 | 6,150 | 49,158 | |||||||||||||||||
| C30: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 3,715 | 3,715 | 3,760 | 3,760 | 3,760 | 3,760 | 3,857.76 | 3,857.76 | 30,185.52 | |||||||||||||||||
| C31: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 0 | 0 | 5,256 | 5,256 | 5,300 | 5,300 | 5,300 | 5,362 | 31,774 | |||||||||||||||||
| C32: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 0 | 0 | 0 | 0 | 4,236 | 4,236 | 4,282 | 4,282 | 17,036 | |||||||||||||||||
| C33: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 0 | 0 | 0 | 0 | 0 | 0 | 6,408 | 6,449 | 12,857 | |||||||||||||||||
| Bundled licences billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 538,291.89 | |||||||||||||||||
| Bundled licences: vendor cost | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | distributor invoices | 55,539.59 | 55,723.08 | 57,075.79 | 57,176.08 | 56,180.58 | 56,178.4 | 57,775.93 | 58,080.45 | 453,729.9 | |||||||||||||||||
| Tickets logged | SERVICE DESK (PSA) | PSA | 1,903 | 1,831 | 1,874 | 1,844 | 1,788 | 1,748 | 1,792 | 1,601 | 14,381 | |||||||||||||||||
| SLA attainment (tickets inside response and resolution times) | SERVICE DESK (PSA) | PSA | 97.34% | 98.03% | 93.18% | 91.81% | 91.22% | 92.65% | 86.39% | 88.4% | 92.38% | |||||||||||||||||
| SLA credits for the month (credited on the next invoice) | SERVICE DESK (PSA) | credit notes | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 37,653.01 | |||||||||||||||||
| Annual licences billed | LICENCES, HARDWARE AND REBATES | billing system | 243,500 | 13,100 | 19,200 | 14,900 | 9,600 | 17,300 | 11,600 | 6,400 | 335,600 | |||||||||||||||||
| Licences resold as agent: gross billing | LICENCES, HARDWARE AND REBATES | billing system | 49,000 | 54,000 | 66,000 | 57,000 | 58,000 | 61,000 | 55,000 | 38,000 | 438,000 | |||||||||||||||||
| Hardware revenue | LICENCES, HARDWARE AND REBATES | ledger | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 1,575,000 | |||||||||||||||||
| Hardware cost of sales before rebates | LICENCES, HARDWARE AND REBATES | ledger | 161,634 | 171,587 | 195,328 | 175,473 | 184,652 | 208,012 | 170,912 | 105,633 | 1,373,231 | |||||||||||||||||
| Hardware stock at month end | LICENCES, HARDWARE AND REBATES | stock count | 73,904.6 | 76,268.62 | 91,851.66 | 86,610.7 | 79,426.39 | 93,242.97 | 77,430.33 | 52,742.81 | 0 | |||||||||||||||||
| Distributor rebate accrued | LICENCES, HARDWARE AND REBATES | CFO estimate on the quarterly tier | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 19,942.12 | |||||||||||||||||
| Licence incentive accrued: principal licences | LICENCES, HARDWARE AND REBATES | vendor statement | 7,217.99 | 1,970.37 | 2,150.03 | 2,055 | 1,904.3 | 2,079.79 | 1,997.76 | 1,888.33 | 21,263.57 | |||||||||||||||||
| Licence incentive accrued: licences resold as agent | LICENCES, HARDWARE AND REBATES | vendor statement | 1,300.95 | 1,433.7 | 1,752.3 | 1,513.35 | 1,539.9 | 1,619.55 | 1,460.25 | 1,008.9 | 11,628.9 | |||||||||||||||||
| J01: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 160 | 175 | 170 | 160 | 160 | 165 | 150 | 100 | 1,240 | |||||||||||||||||
| J01: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 980 | |||||||||||||||||
| J02: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 170 | 230 | 220 | 160 | 0 | 0 | 0 | 0 | 780 | |||||||||||||||||
| J02: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J03: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 110 | 150 | 150 | 140 | 90 | 0 | 640 | |||||||||||||||||
| J03: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J04: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 95 | 118 | 112 | 110 | 116 | 104 | 72 | 727 | |||||||||||||||||
| J04: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J05: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 132 | 140 | 146 | 138 | 142 | 144 | 136 | 96 | 1,074 | |||||||||||||||||
| J05: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J06: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 120 | 160 | 130 | 0 | 0 | 0 | 410 | |||||||||||||||||
| J06: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J07: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 0 | 95 | 130 | 85 | 310 | |||||||||||||||||
| J07: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J09: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 78 | 82 | 80 | 79 | 81 | 83 | 80 | 58 | 621 | |||||||||||||||||
| J09: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J10: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 95 | 225 | |||||||||||||||||
| J10: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J11: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 120 | 160 | 170 | 160 | 150 | 120 | 0 | 0 | 880 | |||||||||||||||||
| J11: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J12: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 90 | 120 | 95 | 0 | 305 | |||||||||||||||||
| J12: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J01: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 13,873.18 | 16,570.73 | 19,268.29 | 23,892.68 | 26,204.88 | -30,460.42 | 15,348.57 | 9,931.43 | 94,629.34 | |||||||||||||||||
| J01: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 63,200 | 0 | 0 | 0 | 0 | 63,200 | |||||||||||||||||
| J01: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 0 | |||||||||||||||||
| J02: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 13,948.72 | 18,871.79 | 18,051.28 | 13,128.21 | 0 | 0 | 0 | 0 | 64,000 | |||||||||||||||||
| J02: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 19,200 | 25,600 | 0 | 19,200 | 0 | 0 | 0 | 0 | 64,000 | |||||||||||||||||
| J02: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J03: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 8,937.5 | 12,187.5 | 12,187.5 | 11,375 | 7,312.5 | 0 | 52,000 | |||||||||||||||||
| J03: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 15,600 | 0 | 20,800 | 0 | 15,600 | 0 | 52,000 | |||||||||||||||||
| J03: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J04: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 49,436 | |||||||||||||||||
| J04: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 49,436 | |||||||||||||||||
| J04: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J05: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 64,440 | |||||||||||||||||
| J05: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 64,440 | |||||||||||||||||
| J05: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J06: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 32,000 | |||||||||||||||||
| J06: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 32,000 | |||||||||||||||||
| J06: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J07: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 0 | 7,680.85 | 10,510.64 | 6,872.34 | 25,063.83 | |||||||||||||||||
| J07: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 0 | 11,400 | 0 | 15,200 | 26,600 | |||||||||||||||||
| J07: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J09: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 39,744 | |||||||||||||||||
| J09: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 39,744 | |||||||||||||||||
| J09: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J10: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 0 | 0 | 10,400 | 7,600 | 18,000 | |||||||||||||||||
| J10: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 0 | 0 | 10,800 | 14,400 | 25,200 | |||||||||||||||||
| J10: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J11: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 9,818.18 | 13,090.91 | 13,909.09 | 13,090.91 | 12,272.73 | 9,818.18 | 0 | 0 | 72,000 | |||||||||||||||||
| J11: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 21,600 | 0 | 28,800 | 0 | 0 | 21,600 | 0 | 0 | 72,000 | |||||||||||||||||
| J11: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J12: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 24,000 | |||||||||||||||||
| J12: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 24,000 | |||||||||||||||||
| J12: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Service delivery: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 66,650 | 66,650 | 65,350 | 63,700 | 62,050 | 61,000 | 62,200 | 62,200 | 509,800 | |||||||||||||||||
| Service delivery: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 61,000 | 0 | 0 | 61,000 | |||||||||||||||||
| Service delivery: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Service delivery: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 15,829.38 | 15,829.38 | 15,520.62 | 15,128.75 | 14,736.88 | 28,975 | 14,772.5 | 14,772.5 | 135,565.01 | |||||||||||||||||
| Service delivery: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 7,331.5 | 7,331.5 | 7,188.5 | 7,007 | 6,825.5 | 13,420 | 6,842 | 6,842 | 62,788 | |||||||||||||||||
| Service delivery: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 8,583.08 | 8,583.08 | 8,463.11 | 8,258.79 | 8,054.47 | 15,510.96 | 7,851.7 | 7,851.7 | 73,156.89 | |||||||||||||||||
| Service delivery: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 8,249.2 | 8,159 | 7,960 | 7,417.8 | 7,478.4 | 7,227.6 | 6,988.8 | 6,302.4 | 59,783.2 | |||||||||||||||||
| Service delivery: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,011.83 | 2,011.83 | 1,966.17 | 1,916.85 | 1,867.53 | 1,856.5 | 1,901.1 | 1,901.1 | 15,432.91 | |||||||||||||||||
| Service delivery: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 50,735.42 | 50,735.42 | 49,698.39 | 48,434.21 | 47,170.03 | 93,069.04 | 47,506.3 | 47,506.3 | 434,855.11 | |||||||||||||||||
| Projects: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 27,200 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 232,650 | |||||||||||||||||
| Projects: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 29,350 | 0 | 0 | 29,350 | |||||||||||||||||
| Projects: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Projects: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 6,460 | 6,970.62 | 6,970.62 | 6,970.62 | 6,970.62 | 13,941.25 | 6,970.62 | 6,970.62 | 62,224.97 | |||||||||||||||||
| Projects: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,992 | 3,228.5 | 3,228.5 | 3,228.5 | 3,228.5 | 6,457 | 3,228.5 | 3,228.5 | 28,820 | |||||||||||||||||
| Projects: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 4,702.8 | 5,051.96 | 5,051.96 | 5,051.96 | 5,051.96 | 10,103.92 | 5,051.96 | 5,051.96 | 45,118.48 | |||||||||||||||||
| Projects: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,414.4 | 2,587 | 2,587 | 2,472.6 | 2,558.4 | 2,472.6 | 2,329.6 | 2,100.8 | 19,522.4 | |||||||||||||||||
| Projects: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 669.6 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 5,738.86 | |||||||||||||||||
| Projects: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 19,505.2 | 21,069.54 | 21,069.54 | 21,069.54 | 21,069.54 | 42,139.08 | 21,069.54 | 21,069.54 | 188,061.52 | |||||||||||||||||
| Sales and marketing: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 14,000 | 14,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 124,000 | |||||||||||||||||
| Sales and marketing: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 16,000 | 0 | 0 | 16,000 | |||||||||||||||||
| Sales and marketing: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Sales and marketing: commissions paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,104.84 | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 18,144.9 | |||||||||||||||||
| Sales and marketing: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 3,587.4 | 3,498.61 | 3,981.07 | 4,903.06 | 3,981.88 | 8,519.21 | 4,013.66 | 5,074.52 | 37,559.41 | |||||||||||||||||
| Sales and marketing: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,661.53 | 1,620.41 | 1,843.86 | 2,270.89 | 1,844.24 | 3,945.74 | 1,858.96 | 2,350.3 | 17,395.93 | |||||||||||||||||
| Sales and marketing: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,717.88 | 2,661.55 | 2,967.62 | 3,552.53 | 2,968.13 | 6,288.65 | 2,988.3 | 3,661.31 | 27,805.97 | |||||||||||||||||
| Sales and marketing: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,207.2 | 1,194 | 1,393 | 1,331.4 | 1,377.6 | 1,331.4 | 1,254.4 | 1,131.2 | 10,220.2 | |||||||||||||||||
| Sales and marketing: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 339 | 339 | 392 | 392 | 392 | 392 | 392 | 392 | 3,030 | |||||||||||||||||
| Sales and marketing: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 10,725.43 | 10,449.03 | 11,950.91 | 14,821.05 | 11,953.44 | 25,635.97 | 12,052.38 | 15,354.79 | 112,943 | |||||||||||||||||
| General and administrative: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 171,600 | |||||||||||||||||
| General and administrative: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 21,450 | 0 | 0 | 21,450 | |||||||||||||||||
| General and administrative: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| General and administrative: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 10,188.75 | 5,094.38 | 5,094.38 | 45,849.41 | |||||||||||||||||
| General and administrative: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 4,719 | 2,359.5 | 2,359.5 | 21,235.5 | |||||||||||||||||
| General and administrative: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 8,703.86 | 4,351.93 | 4,351.93 | 39,167.37 | |||||||||||||||||
| General and administrative: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,810.8 | 1,791 | 1,791 | 1,711.8 | 1,771.2 | 1,711.8 | 1,612.8 | 1,454.4 | 13,654.8 | |||||||||||||||||
| General and administrative: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 4,105.84 | |||||||||||||||||
| General and administrative: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 29,477.14 | 14,738.57 | 14,738.57 | 132,647.13 | |||||||||||||||||
| Headcount: Service desk analysts | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 0 | |||||||||||||||||
| Headcount: Support engineers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 12 | 12 | 12 | 11 | 10 | 10 | 10 | 10 | 0 | |||||||||||||||||
| Headcount: Systems engineers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 6 | 6 | 6 | 6 | 6 | 5 | 5 | 5 | 0 | |||||||||||||||||
| Headcount: Field technicians | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 6 | 6 | 5 | 5 | 5 | 6 | 6 | 6 | 0 | |||||||||||||||||
| Headcount: NOC and security analysts | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 0 | |||||||||||||||||
| Headcount: Service delivery managers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Project engineers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 0 | |||||||||||||||||
| Headcount: Project managers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Sales director | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Account managers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 0 | |||||||||||||||||
| Headcount: Presales engineer | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Marketing | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Directors (CEO and CTO, founders) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Finance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 0 | |||||||||||||||||
| Headcount: People and HR | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Procurement and logistics | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Office administration | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Commissions earned | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | commission statements | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 461.01 | 17,501.07 | |||||||||||||||||
| Service tooling invoice (USD) | DELIVERY COSTS, OVERHEADS AND CAPEX | vendor invoice | 22,632.54 | 22,681.16 | 23,112.28 | 23,160.22 | 22,810.7 | 22,847.76 | 23,386.32 | 23,441.74 | 184,072.72 | |||||||||||||||||
| Colocation and backup storage | DELIVERY COSTS, OVERHEADS AND CAPEX | supplier invoice | 8,856.6 | 8,856.6 | 8,883.6 | 8,885.4 | 8,870.1 | 8,871 | 8,900.7 | 8,902.5 | 71,026.5 | |||||||||||||||||
| Field vans: rental, fuel and tolls | DELIVERY COSTS, OVERHEADS AND CAPEX | direct debits | 5,636.01 | 5,397.13 | 4,560.78 | 4,836.18 | 4,674.39 | 5,555.41 | 5,465.7 | 5,641.87 | 41,767.47 | |||||||||||||||||
| Cabling and electrical subcontractors | DELIVERY COSTS, OVERHEADS AND CAPEX | supplier invoices | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 12,000 | |||||||||||||||||
| Office rent, Porto (VAT exempt; 25% IRC withheld) | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 84,000 | |||||||||||||||||
| Statutory audit, legal and tax advisers | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 4,238.97 | 4,194.22 | 12,151.32 | 4,122.45 | 4,050.77 | 4,306.92 | 3,980.83 | 4,029.51 | 41,074.99 | |||||||||||||||||
| Insurance (general liability, property, cyber) | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 15,200 | |||||||||||||||||
| Marketing and events | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 5,721.45 | 6,104.26 | 6,356.46 | 6,204.67 | 11,651.5 | 6,129.67 | 5,939.39 | 3,226.47 | 51,333.87 | |||||||||||||||||
| Training and certifications | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 3,760.19 | 3,786.21 | 3,761.17 | 3,893.49 | 3,796.58 | 3,623.46 | 3,822.18 | 3,812.14 | 30,255.42 | |||||||||||||||||
| Recruitment | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 404.52 | 2,528.86 | 2,601.49 | 387.16 | 399.43 | 2,520.56 | 2,643.47 | 397.58 | 11,883.07 | |||||||||||||||||
| Travel (VAT not recovered) | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 3,255.03 | 3,233.46 | 3,246.93 | 3,103.37 | 3,316.44 | 3,255.01 | 3,174.36 | 3,156.39 | 25,740.99 | |||||||||||||||||
| Telecoms and internal IT | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 4,317.95 | 4,386.24 | 4,056.41 | 3,876.23 | 4,219.65 | 4,256.38 | 4,126.14 | 4,313.73 | 33,552.73 | |||||||||||||||||
| Office services and utilities | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 2,842.61 | 2,764.22 | 2,772.09 | 2,659.64 | 2,737.06 | 2,713.85 | 2,662.66 | 2,769.61 | 21,921.74 | |||||||||||||||||
| Occupational health and safety | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 425.58 | 453.22 | 441.7 | 436.67 | 451.04 | 454.52 | 427.67 | 447.76 | 3,538.16 | |||||||||||||||||
| Capex: IT equipment | DELIVERY COSTS, OVERHEADS AND CAPEX | asset register | 1,800 | 3,100 | 12,900 | 1,800 | 1,800 | 3,100 | 3,100 | 1,800 | 29,400 | |||||||||||||||||
| Customer receipts: Portugal (incl. VAT) | RECEIPTS (bank) | bank | 858,639.12 | 855,237.39 | 696,752.39 | 683,693.77 | 729,320.38 | 690,855.75 | 685,015.9 | 671,031.68 | 5,870,546.38 | |||||||||||||||||
| Customer receipts: Spain | RECEIPTS (bank) | bank | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 781,520.28 | |||||||||||||||||
| Distributor rebate received | RECEIPTS (bank) | bank | 0 | 19,612.92 | 0 | 0 | 7,858.52 | 0 | 0 | 8,542.93 | 36,014.37 | |||||||||||||||||
| Licence incentive received | RECEIPTS (bank) | bank | 0 | 12,530.38 | 0 | 0 | 15,825.34 | 0 | 0 | 10,711.89 | 39,067.61 | |||||||||||||||||
| Hardware distributors (incl. VAT) | PAYMENTS (bank) | bank | 265,273.96 | 171,017.48 | 213,959.75 | 259,420.58 | 209,385.41 | 218,285.26 | 272,849.15 | 190,772.21 | 1,800,963.8 | |||||||||||||||||
| Licence distributor (incl. VAT) | PAYMENTS (bank) | bank | 193,719.66 | 349,276.45 | 139,566.97 | 159,995.68 | 146,302.45 | 141,212.09 | 151,673.02 | 141,778.32 | 1,423,524.64 | |||||||||||||||||
| Other suppliers (incl. VAT) | PAYMENTS (bank) | bank | 41,041.89 | 38,265.72 | 44,873.9 | 71,149.64 | 51,792.63 | 61,416.53 | 60,928.04 | 59,626.62 | 429,094.97 | |||||||||||||||||
| Service tooling vendor (EUR debited) | PAYMENTS (bank) | bank | 19,321.57 | 19,196.39 | 19,532.52 | 20,019.3 | 20,160.36 | 19,710.27 | 19,650.61 | 20,065.48 | 157,656.5 | |||||||||||||||||
| Social security (20th) | PAYMENTS (bank) | bank | 44,038.67 | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 408,784.58 | |||||||||||||||||
| IRS withheld (20th) | PAYMENTS (bank) | bank | 19,781.39 | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 184,113.2 | |||||||||||||||||
| IRC withheld on rent (20th) | PAYMENTS (bank) | bank | 2,560.97 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 20,935.97 | |||||||||||||||||
| VAT (25th of the second month) | PAYMENTS (bank) | bank | 72,032.56 | 63,480.47 | 55,311.12 | 43,816.63 | 38,392.7 | 61,335.95 | 46,260.95 | 0 | 380,630.38 | |||||||||||||||||
| IRC: balance for the prior year (Modelo 22) | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 0 | 0 | 105,752.96 | |||||||||||||||||
| IRC: payments on account | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 0 | 0 | 73,084.59 | 0 | 73,084.59 | |||||||||||||||||
| Loan principal | PAYMENTS (bank) | bank | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 266,666.64 | |||||||||||||||||
| Loan interest | PAYMENTS (bank) | bank | 4,752.58 | 4,640.22 | 4,699 | 4,704 | 4,652.08 | 4,578.67 | 4,477.92 | 4,409.78 | 36,914.25 | |||||||||||||||||
| Dividends declared (general meeting of 30 March 2026) | PAYMENTS (bank) | minutes | 0 | 0 | 360,000 | 0 | 0 | 0 | 0 | 0 | 360,000 | |||||||||||||||||
| Dividends paid (net of IRS withheld) | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 259,200 | 0 | 0 | 0 | 259,200 | |||||||||||||||||
| IRS withheld on dividends paid | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 100,800 |
| label | basis | section | format | kind | bold | value c | value d |
|---|---|---|---|---|---|---|---|
| Cash at bank | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 950,000 | |
| Receivables: customers in Portugal (incl. VAT) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,083,767.62 | |
| Receivables: customers in Spain | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 193,321.41 | |
| Hardware stock | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 96,500 | |
| Prepaid annual licence costs | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 64,600 | |
| Rebates and incentives receivable | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 32,143.3 | |
| Rent deposit | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 21,000 | |
| Contract assets: projects | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| IT equipment: cost | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 186,000 | |
| IT equipment: accumulated depreciation | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 121,000 | |
| Office fit-out: cost | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 140,000 | |
| Office fit-out: accumulated depreciation | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 84,000 | |
| Customer relationships: cost | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 480,000 | |
| Customer relationships: accumulated amortisation | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 105,000 | |
| Goodwill | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 920,000 | |
| Trade payables: hardware distributors | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 265,273.96 | |
| Trade payables: licence distributor | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 193,719.66 | |
| Trade payables: service tooling vendor (USD, at the December rate) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 19,311.67 | |
| Trade payables: other suppliers | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 41,041.89 | |
| Contract liabilities: annual licences billed ahead | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 85,000 | |
| Contract liabilities: projects billed ahead | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 33,912.2 | |
| Contract liabilities: onboarding fees deferred | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 8,056.25 | |
| SLA credits due to customers | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| VAT payable (November and December returns) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 135,513.03 | |
| Social security payable (December) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 44,038.67 | |
| IRS withheld payable (December) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 19,781.39 | |
| IRC withheld on rent payable | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 2,560.97 | |
| Commissions payable (incl. social security) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,367.24 | |
| Holiday pay and holiday allowance accrued (vested 1-Jan-26, incl. social security) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 320,017.5 | |
| Christmas allowance accrued | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| Corporate income tax payable (FY2025 balance) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 105,752.96 | |
| Bank term loan | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,300,000 | |
| IRS withheld on dividends payable | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| Onerous project provision | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| Share capital | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 50,000 | |
| Legal reserve | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 10,000 | |
| Retained earnings | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,221,984.94 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Office rent, Porto (VAT exempt; 25% IRC withheld) | OVERHEADS | no VAT or not recovered | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 126,000 | 129,150 |
| Statutory audit, legal and tax advisers | OVERHEADS | Portuguese VAT 23% recovered | 4,238.97 | 4,194.22 | 12,151.32 | 4,122.45 | 4,050.77 | 4,306.92 | 3,980.83 | 4,029.51 | 4,176 | 4,176 | 4,176 | 4,176 | 4,280.4 | 4,280.4 | 11,808 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 57,778.99 | 58,892.4 |
| Insurance (general liability, property, cyber) | OVERHEADS | no VAT or not recovered | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 22,800 | 23,370 |
| Marketing and events | OVERHEADS | Portuguese VAT 23% recovered | 5,721.45 | 6,104.26 | 6,356.46 | 6,204.67 | 11,651.5 | 6,129.67 | 5,939.39 | 3,226.47 | 6,045 | 11,700 | 6,045 | 6,045 | 6,196.125 | 6,196.125 | 6,196.125 | 6,196.125 | 11,992.5 | 6,196.125 | 6,196.125 | 3,331.25 | 6,196.125 | 11,992.5 | 6,196.125 | 6,196.125 | 81,168.87 | 83,081.375 |
| Training and certifications | OVERHEADS | Portuguese VAT 23% recovered | 3,760.19 | 3,786.21 | 3,761.17 | 3,893.49 | 3,796.58 | 3,623.46 | 3,822.18 | 3,812.14 | 3,800 | 3,800 | 3,800 | 3,800 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 45,455.42 | 46,740 |
| Recruitment | OVERHEADS | Portuguese VAT 23% recovered | 404.52 | 2,528.86 | 2,601.49 | 387.16 | 399.43 | 2,520.56 | 2,643.47 | 397.58 | 400 | 5,350 | 4,618.5 | 1,310.5485 | 7,947.3181 | 1,368.2485 | 3,015.8295 | 3,057.3469 | 1,404.9119 | 3,064.0325 | 1,423.348 | 1,421.0093 | 1,430.3062 | 1,428.0313 | 1,425.7611 | 1,423.577 | 23,562.1185 | 28,409.7205 |
| Travel (VAT not recovered) | OVERHEADS | no VAT or not recovered | 3,255.03 | 3,233.46 | 3,246.93 | 3,103.37 | 3,316.44 | 3,255.01 | 3,174.36 | 3,156.39 | 3,200 | 3,200 | 3,200 | 3,200 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 38,540.99 | 39,360 |
| Telecoms and internal IT | OVERHEADS | Portuguese VAT 23% recovered | 4,317.95 | 4,386.24 | 4,056.41 | 3,876.23 | 4,219.65 | 4,256.38 | 4,126.14 | 4,313.73 | 4,200 | 4,200 | 4,200 | 4,200 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 50,352.73 | 51,660 |
| Office services and utilities | OVERHEADS | Portuguese VAT 23% recovered | 2,842.61 | 2,764.22 | 2,772.09 | 2,659.64 | 2,737.06 | 2,713.85 | 2,662.66 | 2,769.61 | 2,700 | 2,700 | 2,700 | 2,700 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 32,721.74 | 33,210 |
| Occupational health and safety | OVERHEADS | no VAT or not recovered | 425.58 | 453.22 | 441.7 | 436.67 | 451.04 | 454.52 | 427.67 | 447.76 | 450 | 450 | 450 | 450 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 5,338.16 | 5,535 |
| TOTAL OVERHEADS | OVERHEADS | 37,366.3 | 39,850.69 | 47,787.57 | 37,083.68 | 43,022.47 | 39,660.37 | 39,176.7 | 34,553.19 | 37,371 | 47,976 | 41,589.5 | 38,281.5485 | 45,842.5931 | 39,263.5235 | 48,438.7045 | 40,952.6219 | 45,096.5619 | 40,959.3075 | 39,318.623 | 36,451.4093 | 39,325.5812 | 45,119.6813 | 39,321.0361 | 39,318.852 | 483,719.0185 | 499,408.4955 | |
| Endpoints under management (users x endpoints per user + devices) | DELIVERY COSTS (cost of revenue) | 5,333.1 | 5,347.4 | 5,474.2 | 5,488.3 | 5,385.5 | 5,396.4 | 5,554.8 | 5,571.1 | 5,576.6984 | 5,494.9256 | 5,475.1692 | 5,445.552 | 5,655.8559 | 5,642.3896 | 5,416.2681 | 5,443.3096 | 5,433.995 | 5,475.9115 | 5,469.2584 | 5,388.0854 | 5,393.6985 | 5,389.7031 | 5,372.8233 | 5,378.4208 | 5,445.552 | 5,378.4208 | |
| Service tooling invoice (USD): RMM, PSA, endpoint security, backup | DELIVERY COSTS (cost of revenue) | A: invoice; F: endpoints x price + platform fee | 22,632.54 | 22,681.16 | 23,112.28 | 23,160.22 | 22,810.7 | 22,847.76 | 23,386.32 | 23,441.74 | 23,460.7747 | 23,182.747 | 23,115.5754 | 23,014.8769 | 23,729.9101 | 23,684.1248 | 22,915.3114 | 23,007.2526 | 22,975.5831 | 23,118.099 | 23,095.4786 | 22,819.4904 | 22,838.5748 | 22,824.9907 | 22,767.5993 | 22,786.6308 | 276,846.6941 | 276,563.0456 |
| SERVICE TOOLING (EUR at the rate of the month) | DELIVERY COSTS (cost of revenue) | USD / rate | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 21,722.9396 | 21,465.5065 | 21,403.3106 | 21,310.0712 | 21,972.139 | 21,929.7452 | 21,217.8809 | 21,303.0117 | 21,273.688 | 21,405.6472 | 21,384.7024 | 21,129.1578 | 21,146.8285 | 21,134.2506 | 21,081.1105 | 21,098.7322 | 244,270.0547 | 256,076.894 |
| COLOCATION AND BACKUP STORAGE | DELIVERY COSTS (cost of revenue) | A: invoice; F: fixed + per device, x inflation | 8,856.6 | 8,856.6 | 8,883.6 | 8,885.4 | 8,870.1 | 8,871 | 8,900.7 | 8,902.5 | 8,903.1237 | 8,887.5397 | 8,882.9723 | 8,875.4838 | 9,137.2881 | 9,133.6439 | 9,100.9408 | 9,107.744 | 9,105.7956 | 9,114.5181 | 9,112.3904 | 9,096.116 | 9,096.7597 | 9,096.0661 | 9,090.0489 | 9,090.6883 | 106,575.6195 | 109,282 |
| FIELD VANS (rental, fuel, tolls) | DELIVERY COSTS (cost of revenue) | A: direct debits; F: (field technicians + pool van) x cost | 5,636.01 | 5,397.13 | 4,560.78 | 4,836.18 | 4,674.39 | 5,555.41 | 5,465.7 | 5,641.87 | 5,485.76 | 5,441.9329 | 5,431.6949 | 5,421.2427 | 5,545.8458 | 5,534.9464 | 5,524.0738 | 6,120.5386 | 6,104.0476 | 6,087.6344 | 6,075.5497 | 6,063.4623 | 6,051.3728 | 6,039.3116 | 6,027.2784 | 6,015.2728 | 63,548.1005 | 71,189.3343 |
| Rent paid to the landlord, net of the IRC withheld (in the month) | RENT AND IRC WITHHELD ON RENT | rent x (1 - 25%) | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 94,500 | 96,862.5 |
| IRC withheld on rent | RENT AND IRC WITHHELD ON RENT | rent x 25% | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 31,500 | 32,287.5 |
| IRC withheld paid to the State (20th of the following month) | RENT AND IRC WITHHELD ON RENT | A: bank; F: prior month | 2,560.97 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 31,435.97 | 32,221.875 |
| IRC WITHHELD ON RENT PAYABLE | RENT AND IRC WITHHELD ON RENT | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,625 | 2,690.625 | |
| Insurance, travel, telecoms incl. VAT and field vans | DIRECT DEBITS (paid in the month) | 16,102.1185 | 15,925.6652 | 14,697.0943 | 14,607.3129 | 15,080.9995 | 15,945.7674 | 15,615.2122 | 16,004.1479 | 15,751.76 | 15,707.9329 | 15,697.6949 | 15,687.2427 | 16,068.4958 | 16,057.5964 | 16,046.7238 | 16,643.1886 | 16,626.6976 | 16,610.2844 | 16,598.1997 | 16,586.1123 | 16,574.0228 | 16,561.9616 | 16,549.9284 | 16,537.9228 | 186,822.9484 | 197,461.1343 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex: IT equipment | A: register; F: hires x equipment + replacement | 1,800 | 3,100 | 12,900 | 1,800 | 1,800 | 3,100 | 3,100 | 1,800 | 1,800 | 4,725 | 4,292.75 | 2,338.0514 | 6,253.8698 | 2,366.2378 | 3,339.8083 | 3,364.3414 | 2,387.9025 | 3,368.2919 | 2,398.7965 | 2,397.4146 | 2,402.9082 | 2,401.564 | 2,400.2225 | 2,398.9319 | 42,555.8014 | 35,480.2894 | |
| Depreciation of IT equipment held at 31-Dec-25 | register | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,000 | 0 | 0 | 0 | 37,200 | 27,800 | |
| Depreciation of additions (36 months) | 0 | 50 | 136.1111 | 494.4444 | 544.4444 | 594.4444 | 680.5556 | 766.6667 | 816.6667 | 866.6667 | 997.9167 | 1,117.1597 | 1,182.1056 | 1,355.8242 | 1,421.553 | 1,514.3255 | 1,607.7794 | 1,674.11 | 1,767.6737 | 1,834.3069 | 1,900.9018 | 1,967.6492 | 2,034.3593 | 2,101.0322 | 7,065.0764 | 20,361.6209 | ||
| Depreciation of the office fit-out | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 14,000.04 | 14,000.04 | ||
| DEPRECIATION | 4,266.67 | 4,316.67 | 4,402.7811 | 4,761.1144 | 4,811.1144 | 4,861.1144 | 4,947.2256 | 5,033.3367 | 5,083.3367 | 5,133.3367 | 5,264.5867 | 5,383.8297 | 5,448.7756 | 5,622.4942 | 5,688.223 | 5,780.9955 | 5,874.4494 | 5,940.78 | 6,034.3437 | 6,100.9769 | 6,067.5718 | 3,134.3192 | 3,201.0293 | 3,267.7022 | 58,265.1164 | 62,161.6609 | ||
| AMORTISATION: CUSTOMER RELATIONSHIPS | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 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 | 60,000 | ||
| DEPRECIATION AND AMORTISATION | 9,266.67 | 9,316.67 | 9,402.7811 | 9,761.1144 | 9,811.1144 | 9,861.1144 | 9,947.2256 | 10,033.3367 | 10,083.3367 | 10,133.3367 | 10,264.5867 | 10,383.8297 | 10,448.7756 | 10,622.4942 | 10,688.223 | 10,780.9955 | 10,874.4494 | 10,940.78 | 11,034.3437 | 11,100.9769 | 11,067.5718 | 8,134.3192 | 8,201.0293 | 8,267.7022 | 118,265.1164 | 122,161.6609 | ||
| IT EQUIPMENT AND FIT-OUT, NET BOOK VALUE | 118,533.33 | 117,316.66 | 125,813.8789 | 122,852.7644 | 119,841.65 | 118,080.5356 | 116,233.31 | 112,999.9733 | 109,716.6367 | 109,308.3 | 108,336.4633 | 105,290.685 | 106,095.7792 | 102,839.5227 | 100,491.108 | 98,074.4539 | 94,587.907 | 92,015.4189 | 88,379.8718 | 84,676.3095 | 81,011.6459 | 80,278.8906 | 79,478.0838 | 78,609.3134 | 105,290.685 | 78,609.3134 | ||
| CUSTOMER RELATIONSHIPS, NET BOOK VALUE | 370,000 | 365,000 | 360,000 | 355,000 | 350,000 | 345,000 | 340,000 | 335,000 | 330,000 | 325,000 | 320,000 | 315,000 | 310,000 | 305,000 | 300,000 | 295,000 | 290,000 | 285,000 | 280,000 | 275,000 | 270,000 | 265,000 | 260,000 | 255,000 | 315,000 | 255,000 | ||
| GOODWILL (not amortised; impairment test each year) | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Output VAT: invoices to customers in Portugal | Receivables | 160,670.7831 | 119,238.3974 | 130,974.9139 | 138,341.3701 | 125,854.6039 | 128,906.1504 | 124,230.6746 | 100,403.6886 | 130,250.5106 | 125,840.5208 | 137,880.8364 | 122,564.8195 | 167,127.5115 | 117,790.7645 | 124,747.0378 | 119,033.7811 | 118,893.4984 | 127,077.0565 | 115,733.7524 | 95,182.3282 | 129,206.3022 | 133,407.9925 | 125,115.5404 | 124,958.4663 | 1,545,157.2692 | 1,498,274.0318 | |
| Input VAT: hardware purchases | -31,978.878 | -40,008.7346 | -48,509.5392 | -39,153.3692 | -40,817.5687 | -51,020.5734 | -35,672.8528 | -18,617.4604 | -50,151.7627 | -47,050.1631 | -35,673.4253 | -33,225.4919 | -30,043.8749 | -35,360.7585 | -38,297.8143 | -33,077.6717 | -36,285.6022 | -42,863.2141 | -29,251.3729 | -16,391.7896 | -52,531.1194 | -47,050.1631 | -35,673.4253 | -33,225.4919 | -471,879.8193 | -430,052.298 | ||
| Input VAT: licence distributor | -65,311.8557 | -26,097.8884 | -29,917.8917 | -27,357.3684 | -26,405.5134 | -28,361.622 | -26,511.3939 | -22,212.1235 | -27,794.4075 | -27,064.1727 | -27,284.9759 | -30,479.8253 | -64,655.0315 | -24,943.7331 | -27,382.0328 | -25,210.7808 | -24,557.91 | -26,599.4301 | -24,601.3747 | -20,725.0122 | -27,715.5571 | -27,173.2362 | -27,406.3801 | -30,682.2419 | -364,799.0385 | -351,652.7205 | ||
| Input VAT: other suppliers and telecoms | -8,068.9267 | -9,315.1403 | -14,154.7842 | -10,494.6792 | -12,370.5707 | -12,287.0232 | -12,018.7351 | -9,336.0542 | -10,501.8285 | -14,290.156 | -12,612.6254 | -9,039.6118 | -11,878.1135 | -10,030.1869 | -12,483.0736 | -10,696.3702 | -11,334.3076 | -10,844.5981 | -9,937.2923 | -8,678.8502 | -10,152.5786 | -11,683.0603 | -10,239.5118 | -10,148.7199 | -134,490.1353 | -128,106.6629 | ||
| NET VAT FOR THE MONTH | 55,311.1227 | 43,816.6341 | 38,392.6988 | 61,335.9533 | 46,260.9511 | 37,236.9318 | 50,027.6928 | 50,238.0505 | 41,802.512 | 37,436.0289 | 62,309.8098 | 49,819.8904 | 60,550.4917 | 47,456.086 | 46,584.1171 | 50,048.9585 | 46,715.6786 | 46,769.8143 | 51,943.7124 | 49,386.6762 | 38,807.0471 | 47,501.5328 | 51,796.2232 | 50,902.0126 | 573,988.2761 | 588,462.3504 | ||
| VAT paid (25th of the second month; June and July in September) | A: bank; F: the return due | 72,032.56 | 63,480.47 | 55,311.12 | 43,816.63 | 38,392.7 | 61,335.95 | 46,260.95 | 0 | 87,264.6245 | 50,238.0505 | 41,802.512 | 37,436.0289 | 62,309.8098 | 49,819.8904 | 60,550.4917 | 47,456.086 | 46,584.1171 | 50,048.9585 | 46,715.6786 | 0 | 98,713.5267 | 49,386.6762 | 38,807.0471 | 47,501.5328 | 597,371.5959 | 597,893.8148 | |
| VAT PAYABLE | opening + net - paid | 118,791.5927 | 99,127.7568 | 82,209.3356 | 99,728.6589 | 107,596.91 | 83,497.8917 | 87,264.6345 | 137,502.685 | 92,040.5725 | 79,238.5508 | 99,745.8486 | 112,129.7101 | 110,370.3921 | 108,006.5876 | 94,040.2131 | 96,633.0855 | 96,764.647 | 93,485.5029 | 98,713.5367 | 148,100.2129 | 88,193.7332 | 86,308.5898 | 99,297.766 | 102,698.2458 | 112,129.7101 | 102,698.2458 | |
| Check: payable equals the returns not yet paid (must be zero) | this month and last; three months at August | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Reverse charge on the USD tooling vendor (self-assessed and deducted: nets to zero) | memo | 4,448.3714 | 4,424.6538 | 4,577.8715 | 4,613.9893 | 4,566.9055 | 4,540.7282 | 4,626.1749 | 4,625.9976 | 4,996.2761 | 4,937.0665 | 4,922.7614 | 4,901.3164 | 5,053.592 | 5,043.8414 | 4,880.1126 | 4,899.6927 | 4,892.9482 | 4,923.2989 | 4,918.4816 | 4,859.7063 | 4,863.7706 | 4,860.8776 | 4,848.6554 | 4,852.7084 | 56,182.1126 | 58,897.6856 | |
| Services to Spanish businesses (recapitulative statement, by the 20th) | memo | 99,404.4578 | 57,334.2251 | 89,918.7627 | 59,081.5023 | 58,185.8501 | 81,321.2466 | 58,036.8924 | 52,758.8533 | 61,923.1851 | 54,948.1098 | 55,505.6089 | 57,928.5497 | 83,229.4168 | 58,529.8652 | 61,429.4578 | 57,736.6097 | 56,792.303 | 62,499.8278 | 57,728.6855 | 52,660.7425 | 61,042.1054 | 61,726.5735 | 61,204.8111 | 62,864.808 | 786,347.2438 | 737,445.2062 | |
| Hardware delivered to Spanish businesses (exempt intra-EU supply) | memo | 22,320 | 23,640 | 26,880 | 24,120 | 25,440 | 28,560 | 23,520 | 14,520 | 25,034.88 | 27,156.48 | 22,701.12 | 20,791.68 | 18,670.08 | 19,518.72 | 22,276.8 | 20,155.2 | 21,216 | 23,761.92 | 19,518.72 | 12,729.6 | 25,034.88 | 27,156.48 | 22,701.12 | 20,791.68 | 284,684.16 | 253,531.2 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit before tax | PL | 31,963.5996 | 43,133.9524 | 62,391.0208 | 75,497.446 | 55,155.1549 | 372.3181 | 57,547.3151 | 38,158.4445 | 62,960.1997 | 41,507.0497 | 34,369.8273 | 37,763.8396 | 17,197.6594 | 25,337.8549 | 14,329.5773 | 22,895.4288 | 11,443.8422 | 32,505.4968 | 26,845.3076 | 15,099.4857 | 26,746.9706 | 30,316.3483 | 26,273.6624 | 32,811.6867 | 540,820.1677 | 281,803.3207 | |
| Taxable profit year to date (no tax adjustments modelled) | 31,963.5996 | 75,097.552 | 137,488.5728 | 212,986.0188 | 268,141.1738 | 268,513.4918 | 326,060.8069 | 364,219.2514 | 427,179.4512 | 468,686.5008 | 503,056.3281 | 540,820.1677 | 17,197.6594 | 42,535.5143 | 56,865.0917 | 79,760.5205 | 91,204.3627 | 123,709.8594 | 150,555.167 | 165,654.6528 | 192,401.6233 | 222,717.9716 | 248,991.634 | 281,803.3207 | 540,820.1677 | 281,803.3207 | ||
| IRC general rate | timeline | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 19% | 18% | |
| IRC year to date (SME rate on the first EUR 50,000) | 4,794.5399 | 12,268.5349 | 24,122.8288 | 38,467.3436 | 48,946.823 | 49,017.5634 | 59,951.5533 | 67,201.6578 | 79,164.0957 | 87,050.4352 | 93,580.7023 | 100,755.8319 | 2,579.6489 | 6,380.3272 | 8,735.7165 | 12,856.8937 | 14,916.7853 | 20,767.7747 | 25,599.9301 | 28,317.8375 | 33,132.2922 | 38,589.2349 | 43,318.4941 | 49,224.5977 | 100,755.8319 | 49,224.5977 | ||
| Derrama year to date | taxable profit x 1.5% | 479.454 | 1,126.4633 | 2,062.3286 | 3,194.7903 | 4,022.1176 | 4,027.7024 | 4,890.9121 | 5,463.2888 | 6,407.6918 | 7,030.2975 | 7,545.8449 | 8,112.3025 | 257.9649 | 638.0327 | 852.9764 | 1,196.4078 | 1,368.0654 | 1,855.6479 | 2,258.3275 | 2,484.8198 | 2,886.0243 | 3,340.7696 | 3,734.8745 | 4,227.0498 | 8,112.3025 | 4,227.0498 | |
| Tax year to date | 5,273.9939 | 13,394.9982 | 26,185.1574 | 41,662.1339 | 52,968.9406 | 53,045.2658 | 64,842.4654 | 72,664.9465 | 85,571.7875 | 94,080.7327 | 101,126.5473 | 108,868.1344 | 2,837.6138 | 7,018.3599 | 9,588.6929 | 14,053.3015 | 16,284.8507 | 22,623.4226 | 27,858.2576 | 30,802.6573 | 36,018.3165 | 41,930.0045 | 47,053.3686 | 53,451.6475 | 108,868.1344 | 53,451.6475 | ||
| CHARGE FOR THE MONTH (P&L) | 5,273.9939 | 8,121.0042 | 12,790.1593 | 15,476.9764 | 11,306.8068 | 76.3252 | 11,797.1996 | 7,822.4811 | 12,906.8409 | 8,508.9452 | 7,045.8146 | 7,741.5871 | 2,837.6138 | 4,180.7461 | 2,570.333 | 4,464.6086 | 2,231.5492 | 6,338.5719 | 5,234.835 | 2,944.3997 | 5,215.6593 | 5,911.6879 | 5,123.3642 | 6,398.2789 | 108,868.1344 | 53,451.6475 | ||
| Payments on account (July, September, December) | A: bank; F: 95% of the prior-year IRC / 3 | 0 | 0 | 0 | 0 | 0 | 0 | 73,084.59 | 0 | 73,084.5925 | 0 | 0 | 73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | 31,906.0134 | 0 | 31,906.0134 | 0 | 0 | 31,906.0134 | 219,253.775 | 95,718.0403 | |
| Balance for the prior year paid with the Modelo 22 | A: bank; F: May 2027, if tax exceeds the payments on account | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 0 | |
| Overpayment refunded | F: month on Assumptions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 110,385.6406 | 0 | 0 | 0 | 0 | 110,385.6406 | |
| Tax paid less refunds (cash) | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 73,084.59 | 0 | 73,084.5925 | 0 | 0 | 73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | 31,906.0134 | 0 | -78,479.6272 | 0 | 0 | 31,906.0134 | 325,006.735 | -14,667.6004 | ||
| IRC PAYABLE / (RECOVERABLE) | opening + charge - paid + refunded | 111,026.9539 | 119,147.9582 | 131,938.1174 | 147,415.0939 | 158,721.9006 | 53,045.2658 | -8,242.1246 | -419.6435 | -60,597.395 | -52,088.4498 | -45,042.6352 | -110,385.6406 | -107,548.0268 | -103,367.2808 | -100,796.9478 | -96,332.3391 | -94,100.7899 | -87,762.218 | -114,433.3965 | -111,488.9968 | -27,793.7103 | -21,882.0224 | -16,758.6582 | -42,266.3927 | -110,385.6406 | -42,266.3927 | |
| Effective tax rate on profit before tax (year to date) | 16.5% | 17.84% | 19.05% | 19.56% | 19.75% | 19.76% | 19.89% | 19.95% | 20.03% | 20.07% | 20.1% | 20.13% | 16.5% | 16.5% | 16.86% | 17.62% | 17.86% | 18.29% | 18.5% | 18.59% | 18.72% | 18.83% | 18.9% | 18.97% | 20.13% | 18.97% |
| label | basis | section | format | kind | bold | value c | value d |
|---|---|---|---|---|---|---|---|
| December 2026 payment on account if paid in full | helper: single value in column C | int | calc | False | 73,084.5925 | ||
| December 2026 payment on account if limited under CIRC art. 107 | helper: single value in column C | int | calc | False | 0 | ||
| Cash kept in December by limiting it | helper: single value in column C | int | calc | False | 73,084.5925 |
| 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 | TERM LOAN | 1,300,000 | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | |||
| Principal repaid | TERM LOAN | A: bank; F: instalment | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 399,999.96 | 399,999.96 |
| Interest | TERM LOAN | A: bank; F: opening x (Euribor + margin) / 12 | 4,752.58 | 4,640.22 | 4,699 | 4,704 | 4,652.08 | 4,578.67 | 4,477.92 | 4,409.78 | 4,736.1112 | 4,583.3335 | 4,430.5557 | 4,277.7779 | 4,125.0002 | 3,972.2224 | 3,819.4447 | 3,666.6669 | 3,513.8891 | 3,361.1114 | 3,208.3336 | 3,055.5558 | 2,902.7781 | 2,750.0003 | 2,597.2226 | 2,444.4448 | 54,942.0284 | 39,416.6699 |
| BANK LOAN | TERM LOAN | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | 500,000.08 | 900,000.04 | 500,000.08 | |
| EBITDA, last twelve months | COVENANTS (last twelve months; FY2025 months from History) | PL + History | 1,307,358.2296 | 1,275,766.6768 | 1,250,110.7037 | 1,231,630.5849 | 1,205,368.4414 | 1,087,361.5332 | 1,047,270.9771 | 1,022,278.5942 | 968,444.4937 | 885,920.6035 | 801,871.5531 | 715,709.2303 | 701,487.9159 | 684,474.0002 | 636,523.5484 | 583,788.5683 | 539,902.8625 | 572,043.9889 | 541,251.1999 | 517,953.9813 | 479,299.3723 | 464,276.3204 | 452,283.265 | 443,381.6515 | 715,709.2303 | 443,381.6515 |
| Net debt (loan less cash) | COVENANTS (last twelve months; FY2025 months from History) | 185,380.9685 | 42,077.1665 | -85,102.2166 | -88,962.9097 | -17,907.7153 | 219,520.3326 | 346,998.4193 | 191,280.4772 | 502,886.4138 | 606,053.5695 | 657,226.1196 | 678,468.0462 | 568,175.5762 | 624,868.6214 | 379,033.7118 | 361,787.9618 | 256,554.6366 | 322,534.6966 | 419,555.5704 | 233,739.0892 | 65,311.0993 | 217,405.0766 | 274,001.3316 | 263,827.8752 | 678,468.0462 | 263,827.8752 | |
| Net debt / EBITDA | COVENANTS (last twelve months; FY2025 months from History) | at most the covenant | 0.1418 | 0.033 | -0.0681 | -0.0722 | -0.0149 | 0.2019 | 0.3313 | 0.1871 | 0.5193 | 0.6841 | 0.8196 | 0.948 | 0.81 | 0.9129 | 0.5955 | 0.6197 | 0.4752 | 0.5638 | 0.7752 | 0.4513 | 0.1363 | 0.4683 | 0.6058 | 0.595 | 0.948 | 0.595 |
| Tax paid less refunds, last twelve months | COVENANTS (last twelve months; FY2025 months from History) | Tax + History | 163,950 | 163,950 | 163,950 | 163,950 | 142,500 | 248,252.96 | 273,837.55 | 273,837.55 | 299,422.1425 | 299,422.1425 | 299,422.1425 | 325,006.735 | 325,006.735 | 325,006.735 | 325,006.735 | 325,006.735 | 325,006.735 | 219,253.775 | 178,075.1984 | 178,075.1984 | 26,510.9787 | 26,510.9787 | 26,510.9787 | -14,667.6004 | 325,006.735 | -14,667.6004 |
| Capex, last twelve months | COVENANTS (last twelve months; FY2025 months from History) | Fixed_Assets + History | 30,400 | 30,900 | 41,200 | 40,400 | 39,600 | 40,100 | 40,600 | 39,800 | 39,000 | 41,125 | 42,817.75 | 42,555.8014 | 47,009.6712 | 46,275.9089 | 36,715.7173 | 38,280.0586 | 38,867.9611 | 39,136.2531 | 38,435.0496 | 39,032.4642 | 39,635.3724 | 37,311.9364 | 35,419.4089 | 35,480.2894 | 42,555.8014 | 35,480.2894 |
| Debt service (principal and interest), last twelve months | COVENANTS (last twelve months; FY2025 months from History) | 465,940.04 | 464,399.7 | 463,041.76 | 461,812.43 | 460,654.79 | 459,547.35 | 458,462.77 | 457,433.66 | 456,854.4912 | 456,246.1547 | 455,608.6504 | 454,941.9884 | 454,314.4085 | 453,646.411 | 452,766.8556 | 451,729.5225 | 450,591.3317 | 449,373.773 | 448,104.1866 | 446,749.9625 | 444,916.6293 | 443,083.2962 | 441,249.963 | 439,416.6299 | 454,941.9884 | 439,416.6299 | |
| Debt service cover: (EBITDA - tax - capex) / debt service | COVENANTS (last twelve months; FY2025 months from History) | at least the covenant | 2.3887 | 2.3276 | 2.2567 | 2.2245 | 2.2213 | 1.7387 | 1.5985 | 1.5492 | 1.379 | 1.1953 | 1.0088 | 0.7653 | 0.7252 | 0.6904 | 0.6069 | 0.4881 | 0.3907 | 0.698 | 0.7247 | 0.6734 | 0.9286 | 0.9038 | 0.8847 | 0.9617 | 0.7653 | 0.9617 |
| Covenant test (June and December) | COVENANTS (last twelve months; FY2025 months from History) | MET | BREACH | BREACH | BREACH | |||||||||||||||||||||||
| Headroom: EBITDA that could be lost before the DSCR covenant breaks | COVENANTS (last twelve months; FY2025 months from History) | 553,880.1816 | 523,637.0368 | 489,310.5917 | 473,105.6689 | 470,482.6934 | 247,551.7532 | 182,678.1031 | 159,720.6522 | 81,796.9617 | -2,121.9247 | -87,098.7199 | -197,783.6921 | -215,705.7805 | -231,184.3368 | -268,519.1306 | -321,573.6523 | -364,681.4316 | -225,594.5668 | -212,984.0721 | -235,253.6363 | -120,746.934 | -131,246.5502 | -139,147.0782 | -104,730.9934 | -197,783.6921 | -104,730.9934 | |
| Dividends declared (general meeting in March) | DIVIDENDS | A: minutes; F: March 2027 = payout x FY2026 net profit, within the loan cap, if the December test is met | 0 | 0 | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 360,000 | 0 |
| Dividends paid, net of 28% IRS (May) | DIVIDENDS | A: bank; F: May 2027 | 0 | 0 | 0 | 0 | 259,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 259,200 | 0 |
| IRS withheld on dividends paid | DIVIDENDS | net / (1 - 28%) x 28% | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 |
| DIVIDENDS PAYABLE | DIVIDENDS | opening + declared - paid - withheld | 0 | 0 | 360,000 | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| IRS on dividends paid to the State (20th of the following month) | DIVIDENDS | A: bank; F: prior month | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 |
| IRS WITHHELD ON DIVIDENDS PAYABLE | DIVIDENDS | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Share capital | DIVIDENDS | opening balance | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 |
| Legal reserve (complete at 20% of share capital) | DIVIDENDS | opening balance | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| label | basis | section | format | kind | bold | value c | value d |
|---|---|---|---|---|---|---|---|
| Debt service cover at Dec-26 with the December payment on account limited (art. 107) | helper: single value in column C | COVENANTS (last twelve months; FY2025 months from History) | x | calc | False | 0.9259 | |
| Debt service cover at Dec-26 with the December payment on account paid in full | helper: single value in column C | COVENANTS (last twelve months; FY2025 months from History) | x | calc | False | 0.7653 |
CFO decisions & actions
Downside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| Risk | Likelihood | Impact | Score | Mitigation and owner |
|---|---|---|---|---|
| Covenant: debt service cover at the December test is 0.77x with the December payment on account paid in full and 0.93x if it is limited, against 1.20x; a breach lets the bank call the loan and blocks the 2027 dividend | 4 | 4 | 16 | Election under CIRC art. 107 with the tax adviser; bank briefed before the test; waiver request drafted for the Downside; CEO and BriQs CFO |
| Renewal of Brevanor Têxteis in March 2027: 10.2% of managed services revenue, EUR 277k a year, approached by a competitor during the J01 overrun | 3 | 5 | 15 | J01 closed on the revised estimate; executive sponsor meetings monthly; renewal proposal by November; CEO and account manager |
| Service desk capacity: utilisation 98% in July, SLA credits EUR 38k year to date; Pesqueras Morazal renews in December after two breaches | 4 | 3 | 12 | October and November hires; Venara onboarding phased over two months; SLA recovery plan for Pesqueras Morazal; Service delivery director |
| Project delivery: J01 lost EUR 28k at standard cost; estimates at completion are reviewed monthly, not weekly | 3 | 3 | 9 | Weekly estimate review on fixed-fee projects above EUR 50k; subcontractor caps in the statement of work; Project director |
| Project pipeline: this case needs EUR 65k a month of project revenue against EUR 67k a month so far this year | 3 | 3 | 9 | Pipeline review every two weeks; presales capacity on the three largest renewals; Sales director |
| Hardware and rebates: demand below 2025 and the distributor rebate at tier 1 all year (EUR 146k short of tier 2 in the fourth quarter) | 3 | 2 | 6 | Quarterly purchasing plan against the tiers; consolidated January orders; Procurement lead |
| Collections: Spanish customers pay at about 55 days and the J11 milestone is disputed | 2 | 2 | 4 | Direct debit mandates on renewal; acceptance criteria signed before the final milestone; Finance lead |
| Key people: service desk attrition of 14% a year in a tight Porto market | 4 | 3 | 12 | Retention review for engineers; certification path; salary benchmark before the January pay review; Directors |
| Regulation from January 2027: qualified electronic signature on PDF invoices and the new social security payment window | 2 | 2 | 4 | System changes tested in November; Finance lead |
| USD tooling cost: platforms billed in dollars (a 10% stronger dollar costs about EUR 26k a year) | 2 | 1 | 2 | Budget at a prudent rate; review the vendor contract currency at renewal; Finance lead |
| Action | Owner | Due | Status | Measure of done |
|---|---|---|---|---|
| Elect to limit the 15 December IRC payment on account under CIRC art. 107 (EUR 73k), with the tax adviser confirming the FY2026 estimate | Finance lead with the tax adviser | 2026-11-30 | Open | Payment of 15 December limited; December covenant test met |
| Brief the bank on the December covenant test, with this forecast and the Downside waiver request ready | CEO and BriQs CFO | 2026-10-31 | Open | Meeting held; bank position in writing |
| Service desk hiring: three hires in October, two in November; the Venara onboarding phased over two months if the tender is won | Service delivery director | 2026-10-15 | In progress | Offers accepted; onboarding plan signed off |
| Brevanor Têxteis renewal plan: J01 close-out, service review and renewal proposal | CEO and account manager | 2026-11-30 | Open | Proposal presented; renewal signed by February |
| Pesqueras Morazal: SLA recovery report and renewal price position | Account manager | 2026-10-31 | Open | Recovery report sent; renewal signed before December |
| J01: weekly estimate at completion review and a cap on the data migration subcontractor | Project director | 2026-10-15 | In progress | Weekly review minuted; subcontractor hours capped |
| J11: acceptance test rerun and collection of the final milestone | Project manager and Finance lead | 2026-10-31 | In progress | Acceptance signed; final milestone received |
| Fourth-quarter hardware purchasing plan against the distributor tiers | Procurement lead and Finance lead | 2026-10-31 | Open | Plan agreed; tier position reviewed monthly |
| Qualified electronic signature on invoices and the social security payment window from January 2027 | Finance lead | 2026-11-30 | Open | Test invoices signed; payroll calendar updated |
| Monthly contract margin review from the Contract_Register, with a repricing list for the 2027 renewals | BriQs CFO | 2026-10-15 | Open | Repricing list approved by the directors |
4. How the model works
Inputs_Actuals holds the actual months (users, devices and fees by contract, bundled licences, tickets, SLA attainment and credits, annual and agent licence billings, hardware revenue, cost and stock, rebates and incentives, project hours, revenue, billing and provisions, payroll by department, headcount by band, commissions, delivery costs, overheads, capex, receipts and payments) and the opening balance sheet. History holds FY2025 by month and the fees by contract. The Contract_Register holds every contract and pipeline deal with terms, prices, growth and renewal or win probabilities by scenario; the Project_Register holds every project with fee or rate, dates and the estimate at completion. Assumptions holds Portuguese tax and payroll rates, pay bands, the IRS withholding table, service desk rates, prices, overheads, the timeline and the scenario drivers (selector in Assumptions!C11). Contracts, Service_Desk, Projects, Hardware, Licences and Rebates run the operations; Revenue consolidates. People runs Portuguese payroll by band. Receivables, Payables, VAT, Tax, Overheads, Fixed_Assets and Financing roll every flow and balance. PL, BS and CF link only to schedules. BvA, Scenarios, Cash_13W, KPIs, Margins, the agings and CFO_Report are reporting layers.
5. Methods an IT services CFO will look for
| Area | Treatment |
|---|---|
| Managed service contracts | Fees = (users x price per user + devices x price per device) x a price index that moves at each anniversary by the price review and at each 36-month renewal by the renewal price change; renewals and pipeline deals are expected values at their probability. Net and gross revenue retention on a trailing twelve months by contract. |
| SLA credits | Variable consideration (IFRS 15.50 to 59): estimated from the SLA attainment of the month, reducing revenue then, deducted from the next invoice; the liability equals the credits of the month (checked). |
| Service desk capacity | Tickets from users and devices x seasonality, hours by priority, proactive work and onboarding hours against FTE x productive hours; SLA attainment falls above an 80% utilisation knee (fitted to the PSA data), which drives the credits; FTE needed at the knee shown every month. |
| Onboarding fees | Not a distinct service: recognised over the 36-month term (IFRS 15.B48 to B51), checked against a contract-by-contract schedule. |
| Principal or agent | Hardware (bought, held, configured, priced by the company) and bundled and annual licences (integrated, provisioned and supported by the company) as principal; standard licences delivered by the manufacturer as agent at the net commission (IFRS 15.B34 to B38; IFRIC agenda decision on software resellers, 2022). |
| Annual licence deferrals | Billed a year ahead; revenue and the prepaid vendor cost over 12 months, each proved against a billing schedule. |
| Vendor rebates | Distributor rebate tiered on quarterly purchases for the whole quarter, accrued at the rate the quarter is expected to earn with a catch-up when the tier changes, reducing the cost of hardware (IAS 2.11); licence incentives reduce licence cost or add to agent revenue. |
| Projects | Fixed fee over time on hours to date over hours at completion (IFRS 15.B18 to B19) with the cumulative catch-up when the estimate changes (IFRS 15.88); milestone billing and contract assets and liabilities by project; onerous contract provision for the unavoidable loss at standard cost (IAS 37.66 to 69 and 68A). |
| Commissions | 6% of the first-year fees of a new contract capitalised with its social security and amortised over the 36-month term (IFRS 15.91 and 99). The IFRS 15.94 expedient is not available because the amortisation period exceeds one year; with no commission on renewals the asset could also relate to expected renewals, and the model uses the initial term as the more prudent period. The hardware commission is expensed. |
| Payroll | 14 salaries; holiday pay, holiday allowance and Christmas allowance accrued as the work is done (IAS 19), with the holiday accrual revalued for the January pay review; TSU and IRS on what is paid; meal card and insurance. |
| Covenants and dividends | Net debt to EBITDA and debt service cover on the last twelve months with FY2025 from History, tested at June and December; dividends only when the December test is met, capped at 50% of the prior-year profit. |
| Budget vs actual | Revenue variance by cause (the lost contract, contracts won, existing contracts, SLA credits and each resale and project stream), reconciled to the P&L; EBITDA walk from budget to actual. |
7. Assumptions (company judgements, labelled in the workbook)
- Contracts: user growth by contract on the register x 1.0 in the Base (0.5 Downside, 1.3 Upside); price reviews of 3.0% at anniversaries from September (1.5% and 3.5%); renewal probabilities by contract and scenario; the Venara hospital group at 55% from November 2026 in the Base.
- Service desk: 0.42 tickets per user and 0.17 per device a month, 0.951 hours per ticket on average, 126 productive hours per FTE a month, SLA attainment 98.5% up to 80% utilisation falling 0.65 points per point above; credits of 5% of the fee on the share of fees in breach.
- Hiring: twelve hires from October 2026 to June 2027 (five on the service desk in October and November), attrition by department (14% a year on the service desk), leavers replaced after two months; pay review 3.0% in January 2027.
- Hardware at a run-rate of EUR 208k a month before seasonality and a 12.8% margin before rebates; project revenue topped up to EUR 90k a month from October (EUR 65k Downside, EUR 110k Upside); annual licence billings 4% above the same month a year earlier.
- Collections at 38 days in Portugal and 55 in Spain (15 more in the Downside); the disputed J11 milestone collected in October in the Base.
- USD per EUR 1.1463 from September in the Base; Euribor 3M 2.75% (the Base driver from September).
- The December 2026 IRC payment on account is paid in full in the Base as built (switch on Assumptions); the report quantifies the limit under CIRC art. 107. An FY2026 overpayment is assumed refunded in September 2027.
- Work accident insurance at 0.90% of pay until the policy rate is received; 2027 IRS tables assumed equal to 2026.
- Opening balances at 31-Dec-25 are fictional FY2025 accounts. Taxable profit equals profit before tax; no deferred tax; the office lease is expensed as rent (IFRS 16 not applied).
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.
- Set the art. 107 switch on Assumptions to 1 to limit the December 2026 payment on account; the covenant test, the dividend and the cash forecast follow (refresh the snapshots afterwards).
- Blue on yellow cells are inputs; black are formulas; green link other sheets. Actual data is typed only on Inputs_Actuals, History, the two registers and Budget_FY26.
- The month-end procedure is on the Guide sheet: enter the month, move the last actual month on Assumptions, update the registers and the 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)
| Measure | Value |
|---|---|
| YTD Aug-26 revenue vs budget | EUR 4,783k against EUR 5,239k; 8.7% below budget and 10.6% below the same months of 2025 |
| YTD EBITDA vs budget | EUR 479k against EUR 813k |
| Revenue variance by cause, YTD | Traslovia Transportes not renewed (EUR 34k); contracts won against budget (EUR 8k); existing contracts EUR 1k; SLA credits (EUR 30k); licences (EUR 11k); hardware (EUR 133k); projects (EUR 240k) |
| FY2026 revenue, gross margin, EBITDA, net profit | EUR 7,532k (10.2% below FY2025), 27.3%, EUR 863k against EUR 1,357k budgeted and EUR 1,340k in FY2025, EUR 551k |
| Managed services | Fees EUR 237k a month at Aug-26 (3,951 users, 1,225 devices, 32 contracts); net revenue retention 100.9%, gross 96.2%; EUR 1,304k of annual fees reach renewal in the next twelve months |
| Service desk | Utilisation 98% in July; SLA credits EUR 38k to Aug-26 against EUR 8k budgeted; 37 FTE against about 44 needed at the knee |
| Projects | J01 estimate at completion raised in June to 3,500 hours, June catch-up (EUR 30k), loss at completion (EUR 17k) at standard cost; signed backlog EUR 237k |
| Margins FY2026 by service line | Managed services 35%, hardware after rebates 14%, licence resale 41%, projects 25%; by contract 21% (Colégios Maravel) to 48% (Valcorra Advogados) |
| Covenant at the December 2026 test | Debt service cover 1.09x with the December IRC payment on account paid in full, 1.25x if it is limited under CIRC art. 107 (minimum 1.20x); net debt 0.23x EBITDA |
| Cash | EUR 842k at Aug-26; 13-week low EUR 742k in the week ending 4 Dec 2026; lowest month-end EUR 689k in Nov-26, EUR 289k above the EUR 400k board buffer |
| Scenario (negatives in brackets) | FY2027 revenue | FY2027 EBITDA | Debt service cover Dec-26 / Dec-27 | Lowest month-end cash | Headroom over the buffer |
|---|---|---|---|---|---|
| Base | EUR 8,204k (8.9% above FY2026) | EUR 1,059k | 1.09x / 2.23x | EUR 689k in Nov-26 | EUR 289k |
| Downside | EUR 6,995k (3.4% below FY2026) | EUR 443k | 0.77x / 0.96x | EUR 208k in Feb-27 | (EUR 192k) |
| Upside | EUR 8,915k (15.7% above FY2026) | EUR 1,478k | 1.29x / 3.13x | EUR 697k in Nov-26 | EUR 297k |
The story: FY2025 was a hardware refresh year; FY2026 lands 8.3% below budget with EBITDA of EUR 863k against EUR 1,357k budgeted. Traslovia Transportes left at its April renewal for a remote-only competitor. Four people left the service desk in the spring and two were replaced, so utilisation reached 98% in July and SLA credits reached EUR 38k against EUR 8k budgeted. The J01 ERP migration needed a specialist subcontractor and turned loss-making in June, and the distributor rebate stayed at tier 1. The binding constraint is the loan covenant: 2026 pays the FY2025 IRC balance and payments on account set on the strong FY2025 profit, so the December test fails at 1.09x unless the December payment on account is limited under CIRC art. 107, which lifts cover to 1.25x and keeps EUR 73k in the bank. The Downside (50% chance of losing Brevanor Têxteis at its March 2027 renewal, weaker hardware and projects, customers 15 days slower) breaks the covenant at both December tests and takes cash EUR 192k below the buffer in Feb-27.
| Measure | Unit | Base | Downside | Upside |
|---|---|---|---|---|
| FY2026 revenue (outlook) | EUR | 7,532,111.1807 | 7,245,282.7847 | 7,707,989.1607 |
| FY2027 revenue | EUR | 8,204,438.4955 | 6,995,470.3781 | 8,915,038.8811 |
| FY2027 revenue growth | % | 8.93% | -3.45% | 15.66% |
| Managed service fees (MRR) in Dec-27 | EUR | 269,292.494 | 227,998.2147 | 287,722.5039 |
| Net revenue retention at Dec-27 | % | 102.77% | 91.97% | 106.01% |
| FY2027 service desk utilisation | % | 81.42% | 78.12% | 85.34% |
| FY2027 SLA credits | EUR | 4,196.2001 | 3,362.5808 | 21,714.0797 |
| FY2026 gross margin % | % | 27.3% | 26.26% | 27.84% |
| FY2027 gross margin % | % | 28.48% | 24.01% | 31% |
| FY2026 EBITDA | EUR | 863,221.5886 | 715,709.2303 | 951,583.7906 |
| FY2027 EBITDA | EUR | 1,058,621.2472 | 443,381.6515 | 1,478,356.9908 |
| FY2027 net profit | EUR | 724,774.1832 | 228,351.6732 | 1,064,680.6653 |
| FY2027 project gross margin | EUR | 337,759.9292 | 95,834.6951 | 545,763.1223 |
| Cash at 31-Dec-26 | EUR | 704,225.5232 | 221,531.9938 | 745,697.6212 |
| Cash at 31-Dec-27 | EUR | 1,204,217.4696 | 236,172.2048 | 1,330,212.1501 |
| Lowest month-end cash, Sep-26 to Dec-27 | EUR | 689,023.0115 | 208,464.7586 | 696,587.1026 |
| Month of the lowest cash | month | 2026-11-30 | 2027-02-28 | 2026-11-30 |
| Headroom at the lowest point over the board buffer (negative = below) | EUR | 289,023.0115 | -191,535.2414 | 296,587.1026 |
| Net debt / EBITDA at Dec-26 (covenant at most 2.5x) | x | 0.2268 | 0.948 | 0.1622 |
| Debt service cover at Dec-26 (covenant at least 1.2x) | x | 1.0883 | 0.7653 | 1.2865 |
| Debt service cover at Dec-27 | x | 2.2311 | 0.9617 | 3.1325 |
| Dividend paid in May 2027, net of IRS | EUR | 0 | 0 | 201,879.2839 |
| Headcount at Dec-27 | number | 78.369 | 73.6892 | 78.369 |
P&L & budget
Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | REVENUE (IFRS 15) | Revenue | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,690.7987 | 238,655.0069 | 257,727.4001 | 258,279.8182 | 264,564.7875 | 270,963.607 | 272,326.0452 | 277,311.0847 | 278,509.5297 | 279,356.4066 | 280,833.5664 | 282,496.0135 | 283,335.599 | 284,964.5237 | 286,761.69 | 287,722.5039 | 2,827,368.934 | 3,349,145.3572 |
| Managed services: SLA credits (variable consideration) | REVENUE (IFRS 15) | Revenue | 0 | 0 | -3,235.73 | -4,841.71 | -5,441.04 | -3,820.12 | -11,314.01 | -9,000.4 | -8,364.3445 | -873.2186 | -12,886.37 | -2,107.0696 | -3,742.4834 | -5,068.0512 | 0 | -2,458.0625 | 0 | 0 | -2,103.1732 | -5,542.5361 | -2,799.7733 | 0 | 0 | 0 | -61,884.0127 | -21,714.0797 |
| Managed services: onboarding fees recognised | REVENUE (IFRS 15) | Revenue | 293.75 | 293.75 | 393.75 | 393.75 | 476.25 | 476.25 | 611.25 | 611.25 | 611.25 | 611.25 | 1,031.25 | 1,031.25 | 1,128.75 | 1,233.75 | 1,233.75 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 6,835 | 15,318.75 |
| Licences bundled in managed contracts (principal) | REVENUE (IFRS 15) | Revenue | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 69,048.2126 | 68,975.7933 | 74,956.0084 | 75,066.0512 | 78,858.8478 | 80,541.8157 | 80,397.9721 | 81,524.675 | 81,728.7281 | 81,976.9774 | 82,184.7324 | 82,133.8781 | 82,383.6911 | 82,600.3239 | 82,796.4437 | 83,048.6024 | 826,337.9556 | 980,176.6876 |
| Annual security and backup licences (principal, over 12 months) | REVENUE (IFRS 15) | Revenue | 33,625 | 33,716.6667 | 33,816.6667 | 33,891.6667 | 33,941.6667 | 34,050 | 34,100 | 34,133.3333 | 34,243.3333 | 34,318.3333 | 34,378.3333 | 34,503.3333 | 35,720.8333 | 35,786.3333 | 35,882.3333 | 35,956.8333 | 36,004.8333 | 36,091.3333 | 36,149.3333 | 36,181.3333 | 36,297.9333 | 36,377.4333 | 36,441.0333 | 36,573.5333 | 408,718.3333 | 433,463.1 |
| Licences resold as agent: commission and vendor incentive (net) | REVENUE (IFRS 15) | Revenue | 6,935.95 | 7,643.7 | 9,342.3 | 8,068.35 | 8,209.9 | 8,634.55 | 7,785.25 | 5,378.9 | 9,513.1084 | 10,135.4613 | 10,846.7217 | 11,735.7973 | 7,290.4195 | 7,823.8648 | 9,602.0159 | 8,268.4026 | 8,535.1253 | 9,068.5706 | 8,179.4951 | 5,690.0835 | 9,513.1084 | 10,135.4613 | 10,846.7217 | 11,735.7973 | 104,229.9886 | 106,689.066 |
| Hardware (principal) | REVENUE (IFRS 15) | Revenue | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 269,984 | 292,864 | 244,816 | 224,224 | 201,344 | 210,496 | 240,240 | 217,360 | 228,800 | 256,256 | 210,496 | 137,280 | 269,984 | 292,864 | 244,816 | 224,224 | 2,606,888 | 2,734,160 |
| Projects | REVENUE (IFRS 15) | Revenue | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 127,600 | 121,000 | 115,500 | 104,500 | 108,900 | 116,600 | 112,200 | 106,700 | 121,000 | 102,300 | 66,000 | 115,500 | 127,600 | 121,000 | 115,500 | 989,494.9619 | 1,317,800 |
| REVENUE | REVENUE (IFRS 15) | 565,487.86 | 596,889.5867 | 653,538.0567 | 633,432.8067 | 632,143.3767 | 602,238.1 | 602,404.58 | 496,657.4933 | 702,808.1505 | 772,286.6262 | 731,869.3436 | 718,233.1804 | 689,665.1547 | 710,677.3197 | 756,282.1166 | 731,465.4331 | 741,580.7163 | 785,051.788 | 719,342.454 | 605,541.2724 | 795,517.0586 | 835,844.2422 | 783,964.3887 | 760,106.9368 | 7,707,989.1607 | 8,915,038.8811 | |
| Hardware cost net of distributor rebates | COST OF REVENUE | Hardware | -159,548.42 | -168,977.73 | -192,164.33 | -172,919.52 | -181,989.98 | -204,684.57 | -168,585.51 | -104,418.82 | -229,717.5927 | -250,022.8682 | -209,305.908 | -191,655.045 | -172,081.1487 | -179,576.3201 | -205,121.5253 | -185,716.1791 | -195,369.4198 | -218,629.9191 | -180,081.4586 | -117,666.4477 | -229,732.7296 | -250,022.8682 | -209,305.908 | -191,655.045 | -2,233,990.2939 | -2,334,958.9692 |
| Licence cost net of vendor incentives | COST OF REVENUE | Licences | -73,876.6 | -79,377.3767 | -80,626.4267 | -80,878.7467 | -80,071.9467 | -79,976.61 | -81,694.17 | -82,133.4533 | -82,015.0937 | -82,181.9883 | -87,195.4089 | -87,066.3043 | -85,815.6241 | -92,811.3642 | -92,619.1511 | -93,701.996 | -94,033.6013 | -94,116.461 | -94,468.3638 | -94,576.7288 | -94,460.9155 | -94,877.9945 | -95,163.7255 | -95,137.8039 | -977,094.1253 | -1,121,783.7297 |
| Service tooling (USD platforms) | COST OF REVENUE | Overheads | -19,340.7452 | -19,237.6251 | -19,903.7892 | -20,060.8229 | -19,856.1107 | -19,742.2967 | -20,113.8041 | -20,113.033 | -19,907.8223 | -19,886.8674 | -21,258.0457 | -21,276.5402 | -21,624.68 | -22,019.2684 | -21,985.9505 | -22,240.9473 | -22,281.332 | -22,331.2883 | -22,371.766 | -22,354.9012 | -22,405.1398 | -22,448.4734 | -22,484.711 | -22,535.386 | -240,697.5025 | -267,083.8439 |
| Colocation and backup storage | COST OF REVENUE | Overheads | -8,856.6 | -8,856.6 | -8,883.6 | -8,885.4 | -8,870.1 | -8,871 | -8,900.7 | -8,902.5 | -8,904.1216 | -8,901.6908 | -8,990.2169 | -8,989.7417 | -9,238.8299 | -9,270.0085 | -9,267.4742 | -9,285.4116 | -9,286.8043 | -9,288.7626 | -9,289.9757 | -9,287.4515 | -9,289.4118 | -9,291.0373 | -9,291.5508 | -9,293.5181 | -106,812.271 | -111,380.2364 |
| Field vans | COST OF REVENUE | Overheads | -5,636.01 | -5,397.13 | -4,560.78 | -4,836.18 | -4,674.39 | -5,555.41 | -5,465.7 | -5,641.87 | -5,474.7 | -5,420.0452 | -5,421.328 | -5,421.9506 | -5,557.4766 | -5,557.4694 | -5,557.4698 | -6,367.2199 | -6,357.7728 | -6,348.4359 | -6,348.6551 | -6,348.7614 | -6,348.7576 | -6,348.7564 | -6,348.7565 | -6,348.7565 | -63,505.4938 | -73,838.2881 |
| Subcontractors (specialists and cabling) | COST OF REVENUE | Projects | -3,140 | -4,780 | -8,060 | -13,800 | -16,260 | -17,900 | -17,080 | -11,340 | -11,613.3333 | -21,122.7263 | -20,326.844 | -11,555.3706 | -12,016.6176 | -14,669.5588 | -15,598.0882 | -15,067.5 | -14,404.2647 | -16,128.6765 | -13,873.6765 | -9,496.3235 | -15,465.4412 | -16,924.5588 | -16,128.6765 | -15,465.4412 | -156,978.2742 | -175,238.8235 |
| Onerous project provision: movement (IAS 37) | COST OF REVENUE | Projects | 0 | 0 | 0 | 0 | 0 | -10,147.14 | 4,731.43 | 2,908.57 | 835.7114 | 835.7143 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Service delivery payroll | COST OF REVENUE | People | -110,061.0737 | -109,146.08 | -106,970.92 | -100,776 | -100,722.3112 | -96,649.6 | -94,329.375 | -87,485.175 | -98,302.1289 | -107,085.0583 | -113,742.8999 | -114,672.2748 | -122,265.8276 | -121,193.6056 | -123,225.5753 | -121,241.4005 | -124,346.0399 | -123,861.3769 | -118,462.2175 | -109,845.166 | -124,874.215 | -128,094.9523 | -129,168.4005 | -123,801.0911 | -1,239,942.8969 | -1,470,379.8684 |
| Project team payroll | COST OF REVENUE | People | -43,812.6 | -46,895.93 | -46,895.93 | -45,328.705 | -46,504.1237 | -45,328.705 | -43,369.6738 | -40,235.2237 | -45,339.502 | -46,117.5829 | -46,509.4266 | -47,020.6048 | -51,635.7484 | -51,178.4332 | -51,149.0174 | -49,440.9698 | -50,722.614 | -49,441.1969 | -47,305.5101 | -43,888.4142 | -49,868.3321 | -51,149.743 | -51,576.88 | -49,441.1951 | -543,358.0076 | -596,798.0542 |
| TOTAL COST OF REVENUE | COST OF REVENUE | -424,272.0489 | -442,668.4718 | -468,065.7759 | -447,485.3745 | -458,948.9624 | -488,855.3317 | -434,807.5028 | -357,361.5051 | -500,438.5832 | -539,903.1131 | -511,914.3638 | -487,657.832 | -480,235.9529 | -496,276.0283 | -524,524.2519 | -503,061.6243 | -516,801.8488 | -540,146.1171 | -492,201.6232 | -413,464.1945 | -552,444.9427 | -579,158.3839 | -539,468.6088 | -513,678.237 | -5,562,378.8652 | -6,151,461.8133 | |
| GROSS PROFIT | COST OF REVENUE | revenue - cost of revenue | 141,215.8111 | 154,221.1149 | 185,472.2808 | 185,947.4321 | 173,194.4143 | 113,382.7683 | 167,597.0772 | 139,295.9882 | 202,369.5673 | 232,383.5131 | 219,954.9798 | 230,575.3484 | 209,429.2017 | 214,401.2915 | 231,757.8647 | 228,403.8088 | 224,778.8676 | 244,905.6708 | 227,140.8308 | 192,077.0779 | 243,072.1159 | 256,685.8583 | 244,495.78 | 246,428.6999 | 2,145,610.2955 | 2,763,577.0678 |
| Gross margin % of revenue | COST OF REVENUE | 24.97% | 25.84% | 28.38% | 29.36% | 27.4% | 18.83% | 27.82% | 28.05% | 28.79% | 30.09% | 30.05% | 32.1% | 30.37% | 30.17% | 30.64% | 31.23% | 30.31% | 31.2% | 31.58% | 31.72% | 30.56% | 30.71% | 31.19% | 32.42% | 27.84% | 31% | |
| Sales and marketing payroll incl. commissions | OPERATING EXPENSES | People | -23,414.0377 | -23,266.4576 | -26,739.534 | -25,769.1759 | -26,581.8215 | -26,039.6315 | -24,949.317 | -22,881.2249 | -26,320.0947 | -26,749.944 | -27,178.5555 | -27,356.3575 | -31,271.9049 | -31,160.7613 | -31,266.5548 | -30,274.3291 | -31,057.5816 | -30,466.8481 | -29,030.4271 | -26,732.163 | -30,776.7203 | -31,615.9749 | -31,620.8258 | -30,308.6807 | -307,246.1519 | -365,582.7714 |
| General and administrative payroll | OPERATING EXPENSES | People | -34,442.7237 | -34,157.48 | -34,157.48 | -33,016.505 | -33,872.2363 | -33,016.505 | -31,590.2863 | -29,308.3363 | -33,135.235 | -33,816.7542 | -34,100.8705 | -34,480.8699 | -35,229.6635 | -34,938.0411 | -34,938.0412 | -33,771.5688 | -34,646.4231 | -33,771.5688 | -32,313.4783 | -29,980.5335 | -34,063.1869 | -34,938.0412 | -35,229.6593 | -33,771.5688 | -399,095.2821 | -407,591.7746 |
| Office rent, Porto | OPERATING EXPENSES | Overheads | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -10,762.5 | -126,000 | -129,150 |
| Statutory audit, legal and tax advisers | OPERATING EXPENSES | Overheads | -4,238.97 | -4,194.22 | -12,151.32 | -4,122.45 | -4,050.77 | -4,306.92 | -3,980.83 | -4,029.51 | -4,176 | -4,176 | -4,176 | -4,176 | -4,280.4 | -4,280.4 | -11,808 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -4,280.4 | -57,778.99 | -58,892.4 |
| Insurance | OPERATING EXPENSES | Overheads | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -1,947.5 | -22,800 | -23,370 |
| Marketing and events | OPERATING EXPENSES | Overheads | -5,721.45 | -6,104.26 | -6,356.46 | -6,204.67 | -11,651.5 | -6,129.67 | -5,939.39 | -3,226.47 | -6,045 | -11,700 | -6,045 | -6,045 | -6,196.125 | -6,196.125 | -6,196.125 | -6,196.125 | -11,992.5 | -6,196.125 | -6,196.125 | -3,331.25 | -6,196.125 | -11,992.5 | -6,196.125 | -6,196.125 | -81,168.87 | -83,081.375 |
| Training and certifications | OPERATING EXPENSES | Overheads | -3,760.19 | -3,786.21 | -3,761.17 | -3,893.49 | -3,796.58 | -3,623.46 | -3,822.18 | -3,812.14 | -3,800 | -3,800 | -3,800 | -3,800 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -3,895 | -45,455.42 | -46,740 |
| Recruitment | OPERATING EXPENSES | Overheads | -404.52 | -2,528.86 | -2,601.49 | -387.16 | -399.43 | -2,520.56 | -2,643.47 | -397.58 | -400 | -7,000 | -6,330.8333 | -1,914.2676 | -10,784.8873 | -2,035.6909 | -4,234.3832 | -4,330.9725 | -2,129.8991 | -4,354.4894 | -2,179.8813 | -2,179.2979 | -2,204.6752 | -2,204.3859 | -2,204.0932 | -2,204.1 | -27,528.171 | -41,046.756 |
| Travel | OPERATING EXPENSES | Overheads | -3,255.03 | -3,233.46 | -3,246.93 | -3,103.37 | -3,316.44 | -3,255.01 | -3,174.36 | -3,156.39 | -3,200 | -3,200 | -3,200 | -3,200 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -3,280 | -38,540.99 | -39,360 |
| Telecoms and internal IT | OPERATING EXPENSES | Overheads | -4,317.95 | -4,386.24 | -4,056.41 | -3,876.23 | -4,219.65 | -4,256.38 | -4,126.14 | -4,313.73 | -4,200 | -4,200 | -4,200 | -4,200 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -4,305 | -50,352.73 | -51,660 |
| Office services and utilities | OPERATING EXPENSES | Overheads | -2,842.61 | -2,764.22 | -2,772.09 | -2,659.64 | -2,737.06 | -2,713.85 | -2,662.66 | -2,769.61 | -2,700 | -2,700 | -2,700 | -2,700 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -2,767.5 | -32,721.74 | -33,210 |
| Occupational health and safety | OPERATING EXPENSES | Overheads | -425.58 | -453.22 | -441.7 | -436.67 | -451.04 | -454.52 | -427.67 | -447.76 | -450 | -450 | -450 | -450 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -461.25 | -5,338.16 | -5,535 |
| TOTAL OPERATING EXPENSES | OPERATING EXPENSES | -95,223.0615 | -97,274.6276 | -108,684.584 | -95,869.3609 | -103,476.5277 | -98,716.5065 | -95,716.3032 | -86,742.7511 | -96,826.3298 | -110,192.6982 | -104,581.2593 | -100,722.495 | -115,181.7307 | -106,029.7683 | -115,861.8542 | -106,272.1454 | -111,525.5538 | -106,488.1814 | -101,419.0617 | -93,922.3945 | -104,939.8574 | -112,450.052 | -106,949.8533 | -104,179.6245 | -1,194,026.5049 | -1,285,220.077 | |
| EBITDA | OPERATING EXPENSES | 45,992.7496 | 56,946.4873 | 76,787.6968 | 90,078.0713 | 69,717.8865 | 14,666.2618 | 71,880.7739 | 52,553.2371 | 105,543.2375 | 122,190.8149 | 115,373.7205 | 129,852.8534 | 94,247.471 | 108,371.5232 | 115,896.0105 | 122,131.6634 | 113,253.3138 | 138,417.4895 | 125,721.7691 | 98,154.6834 | 138,132.2585 | 144,235.8063 | 137,545.9267 | 142,249.0754 | 951,583.7906 | 1,478,356.9908 | |
| EBITDA % of revenue | OPERATING EXPENSES | 8.13% | 9.54% | 11.75% | 14.22% | 11.03% | 2.44% | 11.93% | 10.58% | 15.02% | 15.82% | 15.76% | 18.08% | 13.67% | 15.25% | 15.32% | 16.7% | 15.27% | 17.63% | 17.48% | 16.21% | 17.36% | 17.26% | 17.54% | 18.71% | 12.35% | 16.58% | |
| Depreciation and amortisation (incl. customer relationships) | BELOW EBITDA | Fixed_Assets | -9,266.67 | -9,316.67 | -9,402.7811 | -9,761.1144 | -9,811.1144 | -9,861.1144 | -9,947.2256 | -10,033.3367 | -10,083.3367 | -10,133.3367 | -10,291.67 | -10,439.0195 | -10,513.8749 | -10,734.1698 | -10,810.8541 | -10,923.6281 | -11,037.9875 | -11,116.2182 | -11,230.9636 | -11,310.0146 | -11,289.0562 | -8,368.5142 | -8,447.9675 | -8,527.416 | -118,347.3895 | -124,310.6647 |
| EBIT | BELOW EBITDA | 36,726.0796 | 47,629.8173 | 67,384.9157 | 80,316.9568 | 59,906.7721 | 4,805.1473 | 61,933.5484 | 42,519.9004 | 95,459.9009 | 112,057.4782 | 105,082.0505 | 119,413.8339 | 83,733.5961 | 97,637.3534 | 105,085.1563 | 111,208.0353 | 102,215.3263 | 127,301.2713 | 114,490.8055 | 86,844.6688 | 126,843.2024 | 135,867.2921 | 129,097.9592 | 133,721.6594 | 833,236.401 | 1,354,046.3261 | |
| Interest on the bank loan | BELOW EBITDA | Financing | -4,752.58 | -4,640.22 | -4,699 | -4,704 | -4,652.08 | -4,578.67 | -4,477.92 | -4,409.78 | -4,004.1668 | -3,875.0001 | -3,745.8335 | -3,616.6668 | -3,487.5002 | -3,358.3335 | -3,229.1668 | -3,100.0002 | -2,970.8335 | -2,841.6669 | -2,712.5002 | -2,583.3336 | -2,454.1669 | -2,325.0003 | -2,195.8336 | -2,066.667 | -52,155.9172 | -33,325.0027 |
| Exchange differences on the USD tooling vendor | BELOW EBITDA | Payables | -9.9 | 144.3552 | -294.8949 | -115.5108 | -99.5371 | 145.8407 | 91.6867 | 48.3241 | 247.1517 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 157.5155 | 0 |
| PROFIT BEFORE TAX | BELOW EBITDA | 31,963.5996 | 43,133.9524 | 62,391.0208 | 75,497.446 | 55,155.1549 | 372.3181 | 57,547.3151 | 38,158.4445 | 91,702.8858 | 108,182.4781 | 101,336.217 | 115,797.1671 | 80,246.0959 | 94,279.0199 | 101,855.9895 | 108,108.0351 | 99,244.4927 | 124,459.6044 | 111,778.3053 | 84,261.3352 | 124,389.0354 | 133,542.2919 | 126,902.1256 | 131,654.9924 | 781,237.9994 | 1,320,721.3234 | |
| Corporate income tax (IRC) and derrama | BELOW EBITDA | Tax | -5,273.9939 | -8,121.0042 | -12,790.1593 | -15,476.9764 | -11,306.8068 | -76.3252 | -11,797.1996 | -7,822.4811 | -18,799.0916 | -22,177.408 | -20,773.9245 | -23,738.4193 | -14,147.9887 | -18,384.4089 | -19,861.9179 | -21,081.0668 | -19,352.6761 | -24,269.6229 | -21,796.7695 | -16,430.9604 | -24,255.8619 | -26,040.7469 | -24,745.9145 | -25,672.7235 | -158,153.7899 | -256,040.6581 |
| NET PROFIT | BELOW EBITDA | 26,689.6056 | 35,012.9482 | 49,600.8615 | 60,020.4696 | 43,848.3482 | 295.9929 | 45,750.1155 | 30,335.9634 | 72,903.7942 | 86,005.0701 | 80,562.2925 | 92,058.7478 | 66,098.1072 | 75,894.611 | 81,994.0715 | 87,026.9683 | 79,891.8166 | 100,189.9816 | 89,981.5357 | 67,830.3749 | 100,133.1735 | 107,501.5449 | 102,156.2111 | 105,982.2689 | 623,084.2095 | 1,064,680.6653 | |
| Net profit % of revenue | BELOW EBITDA | 4.72% | 5.87% | 7.59% | 9.48% | 6.94% | 0.05% | 7.59% | 6.11% | 10.37% | 11.14% | 11.01% | 12.82% | 9.58% | 10.68% | 10.84% | 11.9% | 10.77% | 12.76% | 12.51% | 11.2% | 12.59% | 12.86% | 13.03% | 13.94% | 8.08% | 11.94% | |
| Revenue: managed services | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 288,374.83 | 289,887.79 | 294,708.93 | 294,421.49 | 289,342.7 | 291,699.94 | 293,395.62 | 297,373.49 | 298,985.9169 | 307,368.8316 | 320,828.2885 | 332,270.0498 | 340,809.9018 | 347,671.1215 | 353,957.7673 | 357,680.1972 | 361,540.7577 | 362,635.884 | 362,217.6256 | 360,389.8556 | 364,222.0169 | 368,867.3476 | 370,860.6337 | 372,073.6062 | 3,598,657.8768 | 4,322,926.7151 | |
| Revenue: licence resale | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 40,560.95 | 41,360.3667 | 43,158.9667 | 41,960.0167 | 42,151.5667 | 42,684.55 | 41,885.25 | 39,512.2333 | 43,756.4417 | 44,453.7946 | 45,225.055 | 46,239.1306 | 43,011.2528 | 43,610.1982 | 45,484.3493 | 44,225.2359 | 44,539.9586 | 45,159.9039 | 44,328.8284 | 41,871.4169 | 45,811.0417 | 46,512.8946 | 47,287.755 | 48,309.3306 | 512,948.322 | 540,152.166 | |
| Revenue: hardware | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 269,984 | 292,864 | 244,816 | 224,224 | 201,344 | 210,496 | 240,240 | 217,360 | 228,800 | 256,256 | 210,496 | 137,280 | 269,984 | 292,864 | 244,816 | 224,224 | 2,606,888 | 2,734,160 | |
| Revenue: projects | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 127,600 | 121,000 | 115,500 | 104,500 | 108,900 | 116,600 | 112,200 | 106,700 | 121,000 | 102,300 | 66,000 | 115,500 | 127,600 | 121,000 | 115,500 | 989,494.9619 | 1,317,800 | |
| Payroll cost, all teams incl. commissions | SERVICE LINE AND FUNCTIONAL VIEW (memo) | -211,730.4353 | -213,465.9476 | -214,763.864 | -204,890.3859 | -207,680.4928 | -201,034.4415 | -194,238.652 | -179,909.9599 | -203,096.9607 | -213,769.3394 | -221,531.7526 | -223,530.1069 | -240,403.1444 | -238,470.8411 | -240,579.1888 | -234,728.2682 | -240,772.6586 | -237,540.9907 | -227,111.633 | -210,446.2768 | -239,582.4543 | -245,798.7114 | -247,595.7655 | -237,322.5357 | -2,489,642.3385 | -2,840,352.4686 | |
| Payroll % of revenue | SERVICE LINE AND FUNCTIONAL VIEW (memo) | 37.44% | 35.76% | 32.86% | 32.35% | 32.85% | 33.38% | 32.24% | 36.22% | 28.9% | 27.68% | 30.27% | 31.12% | 34.86% | 33.56% | 31.81% | 32.09% | 32.47% | 30.26% | 31.57% | 34.75% | 30.12% | 29.41% | 31.58% | 31.22% | 32.3% | 31.86% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: contracts live at 31-Dec-25 (excl. Traslovia) | REVENUE | budget input | 214,188.67 | 215,052.94 | 216,315.48 | 217,357.96 | 218,029.89 | 218,522.01 | 219,356.41 | 220,698.45 | 221,181.83 | 222,268.65 | 223,010.78 | 223,587.32 | 2,629,570.39 |
| Managed services: Traslovia Transportes (renewal assumed) | REVENUE | budget input | 8,257.05 | 8,264.11 | 8,271.17 | 8,278.24 | 8,500.73 | 8,508 | 8,515.27 | 8,522.55 | 8,529.84 | 8,537.13 | 8,544.43 | 8,551.74 | 101,280.26 |
| Managed services: four new contracts (March, May, July, September) | REVENUE | budget input | 0 | 0 | 5,820 | 5,820 | 11,640 | 11,640 | 17,460 | 17,460 | 23,280 | 23,280 | 23,280 | 23,280 | 162,960 |
| Managed services: fees | REVENUE | 222,445.72 | 223,317.05 | 230,406.65 | 231,456.2 | 238,170.62 | 238,670.01 | 245,331.68 | 246,681 | 252,991.67 | 254,085.78 | 254,835.21 | 255,419.06 | 2,893,810.65 | |
| Managed services: SLA credits (variable consideration) | REVENUE | budget input | -889.78 | -893.27 | -921.63 | -925.82 | -952.68 | -954.68 | -981.33 | -986.72 | -1,011.97 | -1,016.34 | -1,019.34 | -1,021.68 | -11,575.24 |
| Managed services: onboarding fees recognised | REVENUE | budget input | 293.75 | 293.75 | 406.25 | 406.25 | 518.75 | 518.75 | 631.25 | 631.25 | 743.75 | 743.75 | 743.75 | 743.75 | 6,675 |
| Licences bundled in managed contracts (principal) | REVENUE | budget input | 65,918.34 | 66,057.65 | 67,765.57 | 67,905.59 | 69,614.21 | 69,754.93 | 71,464.26 | 71,605.7 | 73,315.74 | 73,457.9 | 73,600.41 | 73,743.28 | 844,203.58 |
| Annual security and backup licences (principal, over 12 months) | REVENUE | budget input | 33,283.33 | 33,333.33 | 33,408.33 | 33,466.67 | 33,504.17 | 33,570.83 | 33,616.67 | 33,641.67 | 33,733.33 | 33,795.83 | 33,845.83 | 33,950 | 403,149.99 |
| Licences resold as agent: commission and vendor incentive (net) | REVENUE | budget input | 7,360.6 | 7,785.25 | 10,050.05 | 8,209.9 | 8,493 | 9,059.2 | 8,068.35 | 5,803.55 | 9,342.3 | 10,191.6 | 11,040.9 | 13,588.8 | 108,993.5 |
| Hardware (principal) | REVENUE | budget input | 194,328.98 | 204,943.59 | 238,420.43 | 218,824.23 | 229,438.84 | 268,631.24 | 213,925.18 | 139,622.92 | 272,713.78 | 294,759.5 | 246,585.51 | 227,805.82 | 2,750,000.02 |
| Projects | REVENUE | budget input | 96,078.75 | 101,082.85 | 108,088.6 | 104,085.32 | 99,081.21 | 112,091.88 | 94,077.11 | 61,050.04 | 107,087.78 | 118,096.8 | 112,091.88 | 107,087.78 | 1,220,000 |
| REVENUE | REVENUE | 618,819.69 | 635,920.2 | 687,624.25 | 663,428.34 | 677,868.12 | 731,342.16 | 666,133.17 | 558,049.41 | 748,916.38 | 784,114.82 | 731,724.15 | 711,316.81 | 8,215,257.5 | |
| Hardware cost net of distributor rebates | COST OF REVENUE (costs negative) | budget input | -164,271.14 | -173,243.94 | -201,542.75 | -184,977.59 | -193,950.38 | -227,080.7 | -180,836.3 | -118,026.75 | -230,531.77 | -249,167.58 | -208,444.9 | -192,569.95 | -2,324,643.75 |
| Licence cost net of vendor incentives | COST OF REVENUE (costs negative) | budget input | -73,796.8 | -79,119.88 | -80,431.32 | -80,686.03 | -82,232.88 | -82,231.16 | -83,784.93 | -84,039.41 | -85,125.85 | -85,457.29 | -85,683.77 | -85,568.67 | -988,157.99 |
| Service tooling (USD platforms) | COST OF REVENUE (costs negative) | budget input | -19,690.58 | -19,720.27 | -20,131.43 | -20,161.26 | -20,572.56 | -20,602.53 | -21,013.97 | -21,044.09 | -21,455.67 | -21,485.93 | -21,516.26 | -21,546.66 | -248,941.21 |
| Colocation and backup storage | COST OF REVENUE (costs negative) | budget input | -8,857.72 | -8,858.85 | -8,886.97 | -8,888.1 | -8,916.23 | -8,917.36 | -8,945.49 | -8,946.62 | -8,974.75 | -8,975.89 | -8,977.02 | -8,978.16 | -107,123.16 |
| Field vans | COST OF REVENUE (costs negative) | budget input | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -5,530 | -66,360 |
| Subcontractors (specialists and cabling) | COST OF REVENUE (costs negative) | budget input | -4,575 | -4,575 | -4,575 | -4,575 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -1,500 | -30,300 |
| Onerous project provision: movement | COST OF REVENUE (costs negative) | budget input | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Service delivery payroll | COST OF REVENUE (costs negative) | budget input | -110,061.07 | -109,146.07 | -111,844.65 | -110,051.6 | -116,629.73 | -116,280 | -111,237.19 | -103,168.69 | -117,288.56 | -120,314.25 | -121,322.81 | -116,280 | -1,363,624.62 |
| Project team payroll | COST OF REVENUE (costs negative) | budget input | -43,812.6 | -46,895.92 | -46,895.92 | -45,328.7 | -46,504.12 | -45,328.7 | -43,369.67 | -40,235.22 | -45,720.51 | -46,895.92 | -47,287.73 | -45,328.7 | -543,603.71 |
| TOTAL COST OF REVENUE | COST OF REVENUE (costs negative) | -430,594.91 | -447,089.93 | -479,838.04 | -460,198.28 | -475,835.9 | -507,470.45 | -456,217.55 | -382,490.78 | -516,127.11 | -539,326.86 | -500,262.49 | -477,302.14 | -5,672,754.44 | |
| GROSS PROFIT | COST OF REVENUE (costs negative) | 188,224.78 | 188,830.27 | 207,786.21 | 203,230.06 | 202,032.22 | 223,871.71 | 209,915.62 | 175,558.63 | 232,789.27 | 244,787.96 | 231,461.66 | 234,014.67 | 2,542,503.06 | |
| Sales and marketing payroll incl. commissions | OPERATING EXPENSES | budget input | -23,468.97 | -23,334.93 | -26,866.28 | -25,915.92 | -26,752.57 | -26,305.89 | -25,112.82 | -23,038.74 | -26,827.54 | -27,576.59 | -27,552.13 | -26,392.4 | -309,144.78 |
| General and administrative payroll | OPERATING EXPENSES | budget input | -34,442.72 | -34,157.47 | -34,157.47 | -33,016.5 | -33,872.23 | -33,016.5 | -31,590.28 | -29,308.33 | -33,301.74 | -34,157.47 | -34,442.72 | -33,016.5 | -398,479.93 |
| Office rent, Porto | OPERATING EXPENSES | budget input | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -10,500 | -126,000 |
| Statutory audit, legal and tax advisers | OPERATING EXPENSES | budget input | -4,176 | -4,176 | -11,520 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -4,176 | -57,456 |
| Insurance | OPERATING EXPENSES | budget input | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -1,900 | -22,800 |
| Marketing and events | OPERATING EXPENSES | budget input | -6,045 | -6,045 | -6,045 | -6,045 | -11,700 | -6,045 | -6,045 | -3,250 | -6,045 | -11,700 | -6,045 | -6,045 | -81,055 |
| Training and certifications | OPERATING EXPENSES | budget input | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -3,800 | -45,600 |
| Recruitment | OPERATING EXPENSES | budget input | -400 | -2,600 | -4,800 | -2,600 | -2,600 | -2,600 | -400 | -400 | -400 | -400 | -400 | -400 | -18,000 |
| Travel | OPERATING EXPENSES | budget input | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -3,200 | -38,400 |
| Telecoms and internal IT | OPERATING EXPENSES | budget input | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -4,200 | -50,400 |
| Office services and utilities | OPERATING EXPENSES | budget input | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -2,700 | -32,400 |
| Occupational health and safety | OPERATING EXPENSES | budget input | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -450 | -5,400 |
| TOTAL OPERATING EXPENSES | OPERATING EXPENSES | -95,282.69 | -97,063.4 | -110,138.75 | -98,503.42 | -105,850.8 | -98,893.39 | -94,074.1 | -86,923.07 | -97,500.28 | -104,760.06 | -99,365.85 | -96,779.9 | -1,185,135.71 | |
| EBITDA | OPERATING EXPENSES | 92,942.09 | 91,766.87 | 97,647.46 | 104,726.64 | 96,181.42 | 124,978.32 | 115,841.52 | 88,635.56 | 135,288.99 | 140,027.9 | 132,095.81 | 137,234.77 | 1,357,367.35 | |
| Depreciation and amortisation | OPERATING EXPENSES | budget input | -9,266.67 | -9,391.67 | -9,516.67 | -9,641.67 | -9,766.67 | -9,891.67 | -10,016.67 | -10,141.67 | -10,266.67 | -10,391.67 | -10,516.67 | -10,641.67 | -119,450.04 |
| Interest on the bank loan | OPERATING EXPENSES | budget input | -4,820.83 | -4,697.22 | -4,573.61 | -4,450 | -4,326.39 | -4,202.78 | -4,079.17 | -3,955.56 | -3,831.94 | -3,708.33 | -3,584.72 | -3,461.11 | -49,691.66 |
| Exchange differences | OPERATING EXPENSES | budget input | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PROFIT BEFORE TAX | OPERATING EXPENSES | 78,854.59 | 77,677.98 | 83,557.18 | 90,634.97 | 82,088.36 | 110,883.87 | 101,745.68 | 74,538.33 | 121,190.38 | 125,927.9 | 117,994.42 | 123,131.99 | 1,188,225.65 | |
| Corporate income tax (IRC) and derrama | OPERATING EXPENSES | budget input | -16,032.46 | -15,793.24 | -16,988.58 | -18,427.61 | -16,689.94 | -22,544.56 | -20,686.61 | -15,154.9 | -24,640.04 | -25,603.26 | -23,990.25 | -25,034.8 | -241,586.25 |
| NET PROFIT | OPERATING EXPENSES | 62,822.13 | 61,884.74 | 66,568.6 | 72,207.36 | 65,398.42 | 88,339.31 | 81,059.07 | 59,383.43 | 96,550.34 | 100,324.64 | 94,004.17 | 98,097.19 | 946,639.4 | |
| Managed users at month end | DRIVERS, BALANCES AND HEADCOUNT | budget | 3,782.97 | 3,790.97 | 3,888.99 | 3,897.02 | 3,995.08 | 4,003.15 | 4,101.25 | 4,109.37 | 4,207.5 | 4,215.66 | 4,223.84 | 4,232.04 | 4,232.04 |
| Managed devices at month end | DRIVERS, BALANCES AND HEADCOUNT | budget | 1,175.25 | 1,176.5 | 1,207.75 | 1,209 | 1,240.25 | 1,241.51 | 1,272.76 | 1,274.02 | 1,305.28 | 1,306.54 | 1,307.8 | 1,309.07 | 1,309.07 |
| Managed service fees (MRR) | DRIVERS, BALANCES AND HEADCOUNT | budget input | 222,445.72 | 223,317.05 | 230,406.65 | 231,456.2 | 238,170.63 | 238,670.01 | 245,331.68 | 246,681 | 252,991.67 | 254,085.79 | 254,835.21 | 255,419.05 | 2,893,810.66 |
| Contracts billing | DRIVERS, BALANCES AND HEADCOUNT | budget | 30 | 30 | 31 | 31 | 32 | 32 | 33 | 33 | 34 | 34 | 34 | 34 | 34 |
| Annual licences billed | DRIVERS, BALANCES AND HEADCOUNT | budget input | 239,400 | 12,600 | 18,900 | 14,700 | 9,450 | 16,800 | 11,550 | 6,300 | 23,100 | 15,750 | 12,600 | 26,250 | 407,400 |
| Hardware purchases (cost of sales) | DRIVERS, BALANCES AND HEADCOUNT | budget input | 168,483.22 | 177,686.09 | 206,710.51 | 189,720.61 | 198,923.47 | 232,903.28 | 185,473.13 | 121,053.07 | 236,442.84 | 255,556.49 | 213,789.64 | 197,507.65 | 2,384,250 |
| Distributor rebate rate | DRIVERS, BALANCES AND HEADCOUNT | budget | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% | 3% |
| Service desk utilisation | DRIVERS, BALANCES AND HEADCOUNT | budget | 81% | 81% | 80% | 80% | 78% | 78% | 83% | 87% | 86% | 82% | 81% | 81% | 81.5% |
| Service desk FTE | DRIVERS, BALANCES AND HEADCOUNT | budget | 39 | 39 | 40 | 41 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 |
| Headcount | DRIVERS, BALANCES AND HEADCOUNT | budget | 68 | 69 | 71 | 72 | 73 | 74 | 74 | 74 | 74 | 74 | 74 | 74 | 74 |
| Hires | DRIVERS, BALANCES AND HEADCOUNT | budget input | 0 | 1 | 2 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 6 |
| Cash at bank | DRIVERS, BALANCES AND HEADCOUNT | budget balance | 1,002,187.93 | 1,052,024.26 | 1,101,379.16 | 1,164,422.46 | 853,858.54 | 831,647.79 | 829,206.61 | 877,953.28 | 895,206.79 | 995,593.03 | 1,088,170.79 | 1,112,926.52 | 1,112,926.52 |
| Net debt | DRIVERS, BALANCES AND HEADCOUNT | budget balance | 264,478.74 | 181,309.08 | 98,620.85 | 2,244.22 | 279,474.81 | 268,352.23 | 237,460.08 | 155,380.08 | 104,793.24 | -28,926.33 | -154,837.42 | -212,926.48 | -212,926.48 |
| USD per EUR (budget rate) | DRIVERS, BALANCES AND HEADCOUNT | budget | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 |
| label | ytd actual | ytd budget | ytd variance | ytd variance pct | fy outlook | fy budget | fy variance | fy variance pct | commentary |
|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | 1,835,015.91 | 1,876,478.93 | -41,463.02 | -2.21% | 2,827,368.934 | 2,893,810.65 | -66,441.716 | -2.3% | Traslovia Transportes lost at its April renewal; three new contracts from March against four budgeted. |
| Managed services: SLA credits (variable consideration) | -37,653.01 | -7,505.91 | -30,147.1 | -401.64% | -61,884.0127 | -11,575.24 | -50,308.7727 | -434.62% | Desk short of staff after four leavers; utilisation 98% in July. |
| Managed services: onboarding fees recognised | 3,550 | 3,700 | -150 | -4.05% | 6,835 | 6,675 | 160 | 2.4% | |
| Licences bundled in managed contracts (principal) | 538,291.89 | 550,086.25 | -11,794.36 | -2.14% | 826,337.9556 | 844,203.58 | -17,865.6244 | -2.12% | |
| Annual security and backup licences (principal, over 12 months) | 271,275 | 267,825 | 3,450 | 1.29% | 408,718.3333 | 403,149.99 | 5,568.3433 | 1.38% | |
| Licences resold as agent: commission and vendor incentive (net) | 61,998.9 | 64,829.9 | -2,831 | -4.37% | 104,229.9886 | 108,993.5 | -4,763.5114 | -4.37% | |
| Hardware (principal) | 1,575,000 | 1,708,135.41 | -133,135.41 | -7.79% | 2,606,888 | 2,750,000.02 | -143,112.02 | -5.2% | No refresh cycle this year; demand below the 2025 base. |
| Projects | 535,313.17 | 775,635.76 | -240,322.59 | -30.98% | 989,494.9619 | 1,220,000 | -230,505.0381 | -18.89% | J01 catch-up in June and a slower pipeline. |
| REVENUE | 4,782,791.86 | 5,239,185.34 | -456,393.48 | -8.71% | 7,707,989.1607 | 8,215,257.5 | -507,268.3393 | -6.17% | Revenue by cause: see the table below. |
| Hardware cost net of distributor rebates | -1,353,288.88 | -1,443,929.55 | 90,640.67 | 6.28% | -2,233,990.2939 | -2,324,643.75 | 90,653.4561 | 3.9% | Lower volume; distributor rebate at tier 1 against tier 2 budgeted. |
| Licence cost net of vendor incentives | -638,635.33 | -646,322.41 | 7,687.08 | 1.19% | -977,094.1253 | -988,157.99 | 11,063.8647 | 1.12% | |
| Service tooling (USD platforms) | -158,368.2269 | -162,936.69 | 4,568.4631 | 2.8% | -240,697.5025 | -248,941.21 | 8,243.7075 | 3.31% | |
| Colocation and backup storage | -71,026.5 | -71,217.34 | 190.84 | 0.27% | -106,812.271 | -107,123.16 | 310.889 | 0.29% | |
| Field vans | -41,767.47 | -44,240 | 2,472.53 | 5.59% | -63,505.4938 | -66,360 | 2,854.5062 | 4.3% | |
| Subcontractors (specialists and cabling) | -92,360 | -24,300 | -68,060 | -280.08% | -156,978.2742 | -30,300 | -126,678.2742 | -418.08% | J01 data migration specialist subcontractor. |
| Onerous project provision: movement (IAS 37) | -2,507.14 | 0 | -2,507.14 | 0% | 0 | 0 | 0 | 0% | J01 onerous contract provision (IAS 37). |
| Service delivery payroll | -806,140.535 | -888,419 | 82,278.465 | 9.26% | -1,239,942.8969 | -1,363,624.62 | 123,681.7231 | 9.07% | Four leavers, two replaced; budgeted desk hires not made. |
| Project team payroll | -358,370.8912 | -358,370.85 | -0.0413 | -0% | -543,358.0076 | -543,603.71 | 245.7024 | 0.05% | |
| TOTAL COST OF REVENUE | -3,522,464.9731 | -3,639,735.84 | 117,270.8669 | 3.22% | -5,562,378.8652 | -5,672,754.44 | 110,375.5748 | 1.95% | |
| GROSS PROFIT | 1,260,326.8869 | 1,599,449.5 | -339,122.6131 | -21.2% | 2,145,610.2955 | 2,542,503.06 | -396,892.7645 | -15.61% | |
| Gross margin % | 0.2635 | 0.3053 | -0.0418 | 0.2784 | 0.3095 | -0.0311 | |||
| Sales and marketing payroll incl. commissions | -199,641.2001 | -200,796.12 | 1,154.9199 | 0.58% | -307,246.1519 | -309,144.78 | 1,898.6281 | 0.61% | |
| General and administrative payroll | -263,561.5525 | -263,561.5 | -0.0525 | -0% | -399,095.2821 | -398,479.93 | -615.3521 | -0.15% | |
| Office rent, Porto | -84,000 | -84,000 | 0 | 0% | -126,000 | -126,000 | 0 | 0% | |
| Statutory audit, legal and tax advisers | -41,074.99 | -40,752 | -322.99 | -0.79% | -57,778.99 | -57,456 | -322.99 | -0.56% | |
| Insurance | -15,200 | -15,200 | 0 | 0% | -22,800 | -22,800 | 0 | 0% | |
| Marketing and events | -51,333.87 | -51,220 | -113.87 | -0.22% | -81,168.87 | -81,055 | -113.87 | -0.14% | |
| Training and certifications | -30,255.42 | -30,400 | 144.58 | 0.48% | -45,455.42 | -45,600 | 144.58 | 0.32% | |
| Recruitment | -11,883.07 | -16,400 | 4,516.93 | 27.54% | -27,528.171 | -18,000 | -9,528.171 | -52.93% | Recruitment follows the hires. |
| Travel | -25,740.99 | -25,600 | -140.99 | -0.55% | -38,540.99 | -38,400 | -140.99 | -0.37% | |
| Telecoms and internal IT | -33,552.73 | -33,600 | 47.27 | 0.14% | -50,352.73 | -50,400 | 47.27 | 0.09% | |
| Office services and utilities | -21,921.74 | -21,600 | -321.74 | -1.49% | -32,721.74 | -32,400 | -321.74 | -0.99% | |
| Occupational health and safety | -3,538.16 | -3,600 | 61.84 | 1.72% | -5,338.16 | -5,400 | 61.84 | 1.15% | |
| TOTAL OPERATING EXPENSES | -781,703.7226 | -786,729.62 | 5,025.8974 | 0.64% | -1,194,026.5049 | -1,185,135.71 | -8,890.7949 | -0.75% | |
| EBITDA | 478,623.1642 | 812,719.88 | -334,096.7158 | -41.11% | 951,583.7906 | 1,357,367.35 | -405,783.5594 | -29.89% | EUR 334k behind budget YTD; EUR 406k behind on the full-year outlook. |
| EBITDA % of revenue | 0.1001 | 0.1551 | -0.0551 | 0.1235 | 0.1652 | -0.0418 | |||
| Depreciation and amortisation | -77,400.0267 | -77,633.36 | 233.3333 | 0.3% | -118,347.3895 | -119,450.04 | 1,102.6505 | 0.92% | |
| Interest on the bank loan | -36,914.25 | -35,105.56 | -1,808.69 | -5.15% | -52,155.9172 | -49,691.66 | -2,464.2572 | -4.96% | |
| Exchange differences | -89.6361 | 0 | -89.6361 | 0% | 157.5155 | 0 | 157.5155 | 0% | |
| Corporate income tax (IRC) and derrama | -72,664.9465 | -142,317.9 | 69,652.9535 | 48.94% | -158,153.7899 | -241,586.25 | 83,432.4601 | 34.54% | Lower profit; FY2026 rates 19% and 15% on the first EUR 50,000. |
| NET PROFIT | 291,554.3049 | 557,663.06 | -266,108.7551 | -47.72% | 623,084.2095 | 946,639.4 | -323,555.1905 | -34.18% | |
| Managed users | 3,951 | 4,109.37 | -158.37 | -3.85% | 4,307.9513 | 4,232.04 | 75.9113 | 1.79% | |
| Managed service fees (MRR) in the month | 236,994.81 | 246,681 | -9,686.19 | -3.93% | 258,279.8182 | 255,419.05 | 2,860.7682 | 1.12% | |
| Contracts billing | 32 | 33 | -1 | -3.03% | 33 | 34 | -1 | -2.94% | |
| Service desk utilisation | 0.8925 | 0.81 | 0.0825 | 10.19% | 0.8977 | 0.815 | 0.0827 | 10.15% | |
| Distributor rebate earned, % of purchases | 0.015 | 0.03 | -0.015 | -50% | 0.015 | 0.03 | -0.015 | -50% | |
| Service desk FTE | 37 | 43 | -6 | -13.95% | 41.0637 | 43 | -1.9363 | -4.5% | |
| Headcount | 68 | 74 | -6 | -8.11% | 71.5452 | 74 | -2.4548 | -3.32% | |
| Cash at bank | 842,052.8828 | 877,953.28 | -35,900.3972 | -4.09% | 745,697.6212 | 1,112,926.52 | -367,228.8988 | -33% | |
| Net debt | 191,280.4772 | 155,380.08 | 35,900.3972 | 23.1% | 154,302.4188 | -212,926.48 | 367,228.8988 | 172.47% |
| Cause | YTD actual | YTD budget | YTD variance | Revenue effect YTD | FY26 outlook | FY26 budget | FY26 variance | Revenue effect FY26 |
|---|---|---|---|---|---|---|---|---|
| Traslovia Transportes not renewed at its April term end | 33,078 | 67,117.12 | -34,039.12 | -34,039.12 | 33,078 | 101,280.26 | -68,202.26 | -68,202.26 |
| New contracts: three won from March, May and July (and pipeline) against four budgeted | 61,667 | 69,840 | -8,173 | -8,173 | 163,081.2247 | 162,960 | 121.2247 | 121.2247 |
| Existing contracts: users, devices and price reviews | 1,740,270.91 | 1,739,521.81 | 749.1 | 749.1 | 2,631,209.7093 | 2,629,570.39 | 1,639.3193 | 1,639.3193 |
| SLA credits (service desk capacity) | -37,653.01 | -7,505.91 | -30,147.1 | -30,147.1 | -61,884.0127 | -11,575.24 | -50,308.7727 | -50,308.7727 |
| Onboarding fees recognised | 3,550 | 3,700 | -150 | -150 | 6,835 | 6,675 | 160 | 160 |
| Bundled licences | 538,291.89 | 550,086.25 | -11,794.36 | -11,794.36 | 826,337.9556 | 844,203.58 | -17,865.6244 | -17,865.6244 |
| Annual licences | 271,275 | 267,825 | 3,450 | 3,450 | 408,718.3333 | 403,149.99 | 5,568.3433 | 5,568.3433 |
| Licences resold as agent | 61,998.9 | 64,829.9 | -2,831 | -2,831 | 104,229.9886 | 108,993.5 | -4,763.5114 | -4,763.5114 |
| Hardware | 1,575,000 | 1,708,135.41 | -133,135.41 | -133,135.41 | 2,606,888 | 2,750,000.02 | -143,112.02 | -143,112.02 |
| Projects | 535,313.17 | 775,635.76 | -240,322.59 | -240,322.59 | 989,494.9619 | 1,220,000 | -230,505.0381 | -230,505.0381 |
| TOTAL REVENUE VARIANCE | -456,393.48 | -507,268.3393 |
| step | value |
|---|---|
| Budget EBITDA YTD | 812,719.88 |
| Managed services revenue (fees, SLA credits, onboarding, bundled licences) | -83,554.48 |
| Licence resale revenue | 619 |
| Hardware revenue | -133,135.41 |
| Project revenue | -240,322.59 |
| Hardware cost net of rebates | 90,640.67 |
| Licence cost net of incentives | 7,687.08 |
| Tooling, colocation and field vans | 7,231.8331 |
| Subcontractors | -68,060 |
| Onerous project provision | -2,507.14 |
| Service delivery payroll | 82,278.465 |
| Project team payroll | -0.0413 |
| Sales and marketing payroll incl. commissions | 1,154.9199 |
| General and administrative payroll | -0.0525 |
| Overheads | 3,871.03 |
| Actual EBITDA YTD | 478,623.1642 |
Balance sheet & cash flow
Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| 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 | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 806,788.6422 | 731,421.6419 | 696,587.1026 | 745,697.6212 | 842,965.9907 | 941,681.1847 | 1,099,733.6262 | 1,168,997.3823 | 1,112,697.1924 | 1,011,764.1951 | 970,796.7344 | 1,211,989.8689 | 1,292,665.297 | 1,254,748.8152 | 1,285,481.4817 | 1,330,212.1501 | 745,697.6212 | 1,330,212.1501 |
| Receivables: customers in Portugal (incl. VAT) | ASSETS | Receivables | 1,084,367.9053 | 866,796.7276 | 870,475.3987 | 926,607.2165 | 870,335.3704 | 868,847.2941 | 848,195.4363 | 714,105.2217 | 925,099.2727 | 1,036,123.0184 | 1,150,248.8004 | 1,056,708.1798 | 1,261,629.4909 | 1,073,323.3459 | 1,062,706.4193 | 1,040,212.2299 | 1,031,844.7352 | 1,093,761.5 | 1,029,507.9822 | 864,717.4703 | 1,068,798.1124 | 1,171,974.3455 | 1,130,531.3557 | 1,112,555.8219 | 1,056,708.1798 | 1,112,555.8219 |
| Receivables: customers in Spain | ASSETS | Receivables | 209,645.7178 | 182,411.273 | 184,277.2757 | 180,533.798 | 152,960.428 | 179,569.4446 | 176,724.587 | 156,842.9203 | 173,729.8663 | 180,204.1034 | 178,192.1707 | 173,353.7023 | 197,399.7124 | 193,177.4128 | 179,455.6752 | 187,948.6211 | 187,722.7624 | 192,761.9113 | 189,279.1445 | 164,721.7808 | 178,689.9319 | 206,613.8714 | 204,422.2479 | 198,708.7624 | 173,353.7023 | 198,708.7624 |
| Contract assets: projects (progress ahead of billing) | ASSETS | Projects | 0 | 1,309.09 | 21,871.79 | 5,525 | 14,479.38 | 8,287.5 | 6,791.49 | 0 | 14,144.7619 | 39,572.381 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,800 | 0 |
| Hardware stock | ASSETS | Hardware | 73,904.6 | 76,268.62 | 91,851.66 | 86,610.7 | 79,426.39 | 93,242.97 | 77,430.33 | 52,742.81 | 109,235.5264 | 114,670.4268 | 99,052.5536 | 87,794.5455 | 78,835.9185 | 91,250.016 | 94,065.5845 | 87,943.856 | 89,586.271 | 103,681.1776 | 82,419.3693 | 53,751.7626 | 109,235.5264 | 114,670.4268 | 99,052.5536 | 87,794.5455 | 87,794.5455 | 87,794.5455 |
| Prepaid annual licence costs | ASSETS | Licences | 224,105 | 208,436.3333 | 197,327.6667 | 182,894 | 164,394.3333 | 151,664.3333 | 134,564.3333 | 113,487 | 105,185.2667 | 91,187.3333 | 74,727 | 68,644.4667 | 237,660.2333 | 221,015.98 | 209,212.9267 | 193,889.1733 | 174,259.26 | 160,766.7267 | 142,638.1933 | 120,296.22 | 111,496.3827 | 96,658.5733 | 79,210.62 | 72,763.1347 | 68,644.4667 | 72,763.1347 |
| Rebates and incentives receivable | ASSETS | Rebates | 42,747.82 | 16,617.86 | 23,683.86 | 29,805.69 | 12,228.05 | 19,254.82 | 25,039.32 | 9,895.91 | 18,318.5778 | 26,218.6531 | 15,071.8007 | 22,524.8557 | 34,257.7748 | 18,479.8077 | 25,946.8433 | 32,656.7266 | 13,612.1098 | 21,350.6239 | 27,664.42 | 10,970.4405 | 19,747.4885 | 28,014.2482 | 15,654.383 | 23,345.7848 | 22,524.8557 | 23,345.7848 |
| Contract costs: capitalised commissions (IFRS 15.91) | ASSETS | People | 0 | 0 | 4,553.01 | 4,422.924 | 7,962.273 | 7,727.346 | 13,043.349 | 12,649.824 | 12,256.299 | 11,862.774 | 27,210.744 | 26,367.462 | 29,713.365 | 33,233.2357 | 32,142.1815 | 34,133.6779 | 32,954.5508 | 31,775.4236 | 30,596.2965 | 29,417.1694 | 28,238.0422 | 27,058.9151 | 25,879.788 | 24,700.6609 | 26,367.462 | 24,700.6609 |
| Rent deposit | ASSETS | opening balance | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 |
| IT equipment and office fit-out | ASSETS | Fixed_Assets | 118,533.33 | 117,316.66 | 125,813.8789 | 122,852.7644 | 119,841.65 | 118,080.5356 | 116,233.31 | 112,999.9733 | 109,716.6367 | 110,283.3 | 110,296.2133 | 107,551.9883 | 109,968.7286 | 106,995.1943 | 105,244.203 | 103,437.5132 | 100,215.8297 | 98,230.4462 | 94,845.3216 | 91,380.8012 | 87,952.2349 | 87,444.0397 | 86,856.2181 | 86,188.9521 | 107,551.9883 | 86,188.9521 |
| Customer relationships | ASSETS | Fixed_Assets | 370,000 | 365,000 | 360,000 | 355,000 | 350,000 | 345,000 | 340,000 | 335,000 | 330,000 | 325,000 | 320,000 | 315,000 | 310,000 | 305,000 | 300,000 | 295,000 | 290,000 | 285,000 | 280,000 | 275,000 | 270,000 | 265,000 | 260,000 | 255,000 | 315,000 | 255,000 |
| Goodwill | ASSETS | Fixed_Assets | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 |
| TOTAL ASSETS | ASSETS | 4,145,590.0746 | 3,966,412.7374 | 4,105,956.7666 | 4,090,881.6826 | 3,863,868.94 | 3,613,153.9311 | 3,398,690.4264 | 3,290,776.5421 | 3,545,474.8497 | 3,607,543.6319 | 3,612,386.3854 | 3,553,442.8215 | 4,043,431.2141 | 3,925,156.1771 | 4,049,507.4597 | 4,085,219.1803 | 3,973,892.7113 | 3,940,092.0043 | 3,788,747.4618 | 3,763,245.5137 | 4,107,823.0161 | 4,193,183.2352 | 4,128,088.648 | 4,132,269.8125 | 3,553,442.8215 | 4,132,269.8125 | |
| Trade payables: hardware distributors | LIABILITIES | Payables | 171,017.478 | 213,959.7526 | 259,420.5818 | 209,385.411 | 218,285.2597 | 272,849.1531 | 190,772.2159 | 99,562.9463 | 357,399.6786 | 318,998.0258 | 241,864.2465 | 225,267.3659 | 203,696.1437 | 239,744.3793 | 259,657.4877 | 224,265.1515 | 246,014.7784 | 290,610.6961 | 198,323.0151 | 111,135.6085 | 356,158.6669 | 318,998.0258 | 241,864.2465 | 225,267.3659 | 225,267.3659 | 225,267.3659 |
| Trade payables: licence distributor | LIABILITIES | Payables | 349,276.4457 | 139,566.9641 | 159,995.6758 | 146,302.4442 | 141,212.0876 | 151,673.0196 | 141,778.3235 | 118,786.577 | 166,629.434 | 164,404.0745 | 173,108.6198 | 192,941.5708 | 379,201.6089 | 156,750.244 | 176,319.7162 | 162,972.6415 | 159,983.897 | 171,973.7269 | 159,704.1325 | 135,354.617 | 181,779.6329 | 179,438.1364 | 181,960.431 | 202,713.7909 | 192,941.5708 | 202,713.7909 |
| Trade payables: tooling vendor (USD) | LIABILITIES | Payables | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 19,907.8223 | 19,886.8674 | 21,258.0457 | 21,276.5402 | 21,624.68 | 22,019.2684 | 21,985.9505 | 22,240.9473 | 22,281.332 | 22,331.2883 | 22,371.766 | 22,354.9012 | 22,405.1398 | 22,448.4734 | 22,484.711 | 22,535.386 | 21,276.5402 | 22,535.386 |
| Trade payables: other suppliers | LIABILITIES | Payables | 38,265.7182 | 44,873.8933 | 71,149.6332 | 51,792.6195 | 61,416.5207 | 60,928.0265 | 59,626.6094 | 45,069.4557 | 48,959.2996 | 80,523.5131 | 71,388.3774 | 51,956.4645 | 70,706.5194 | 56,887.4001 | 71,587.7631 | 61,887.2624 | 63,895.6368 | 63,242.6494 | 56,215.1788 | 47,302.9922 | 58,220.8729 | 67,146.5622 | 59,038.1445 | 58,224.7982 | 51,956.4645 | 58,224.7982 |
| Contract liabilities: annual licences billed ahead | LIABILITIES | Licences | 294,875 | 274,258.3333 | 259,641.6667 | 240,650 | 216,308.3333 | 199,558.3333 | 177,058.3333 | 149,325 | 138,401.6667 | 119,983.3333 | 98,325 | 90,321.6667 | 312,710.8333 | 290,810.5 | 275,280.1667 | 255,117.3333 | 229,288.5 | 211,535.1667 | 187,681.8333 | 158,284.5 | 146,705.7667 | 127,182.3333 | 104,224.5 | 95,740.9667 | 90,321.6667 | 95,740.9667 |
| Contract liabilities: projects billed ahead of progress | LIABILITIES | Projects | 37,072.12 | 15,447.78 | 20,244.32 | 23,998.23 | 3,087.5 | 31,482.01 | 12,814.29 | 11,219.03 | 8,800 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contract liabilities: onboarding fees deferred | LIABILITIES | Contracts | 7,762.5 | 7,468.75 | 10,675 | 10,281.25 | 12,775 | 12,298.75 | 16,547.5 | 15,936.25 | 15,325 | 14,713.75 | 28,802.5 | 27,771.25 | 30,152.5 | 32,698.75 | 31,465 | 32,637.5 | 31,335 | 30,032.5 | 28,730 | 27,427.5 | 26,125 | 24,822.5 | 23,520 | 22,217.5 | 27,771.25 | 22,217.5 |
| SLA credits due to customers | LIABILITIES | Service_Desk | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,364.3445 | 873.2186 | 12,886.37 | 2,107.0696 | 3,742.4834 | 5,068.0512 | 0 | 2,458.0625 | 0 | 0 | 2,103.1732 | 5,542.5361 | 2,799.7733 | 0 | 0 | 0 | 2,107.0696 | 0 |
| VAT payable | LIABILITIES | VAT | 118,791.5927 | 99,127.7568 | 82,209.3356 | 99,728.6589 | 107,596.91 | 83,497.8917 | 87,264.6345 | 137,502.685 | 88,423.7581 | 86,611.1361 | 130,416.6839 | 144,436.48 | 134,905.3244 | 135,324.8069 | 126,155.1262 | 130,487.06 | 130,817.3714 | 128,278.3412 | 135,100.2234 | 201,272.797 | 121,111.4116 | 122,806.6687 | 141,531.0637 | 145,919.3871 | 144,436.48 | 145,919.3871 |
| Social security payable | LIABILITIES | People | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,543.7697 | 45,882.4324 | 92,478.8712 | 51,588.7146 | 51,189.6857 | 52,340.6232 | 52,842.3846 | 52,051.976 | 52,900.4558 | 104,911.0416 | 52,645.4642 | 52,575.2336 | 52,473.8756 | 52,657.9503 | 104,557.8747 | 52,623.0506 | 51,588.7146 | 52,623.0506 |
| IRS withheld payable | LIABILITIES | People | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 19,986.6785 | 20,395.2375 | 41,178.1852 | 22,853.9212 | 23,356.0785 | 23,855.9031 | 23,993.1268 | 23,579.5542 | 23,949.2033 | 47,436.0489 | 23,800.8065 | 23,770.7971 | 23,726.8399 | 23,806.6465 | 47,310.8304 | 23,791.5148 | 22,853.9212 | 23,791.5148 |
| IRC withheld on rent payable | LIABILITIES | Overheads | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,625 | 2,690.625 |
| Commissions payable (incl. TSU) | LIABILITIES | People | 904.5878 | 943.4576 | 5,747.544 | 947.6899 | 4,789.5705 | 1,113.3045 | 6,640.92 | 570.4999 | 1,333.0797 | 1,446.0526 | 17,400.0616 | 1,107.134 | 5,303.0372 | 5,650.2753 | 1,186.215 | 4,243.8657 | 1,129.7286 | 1,265.296 | 1,039.3503 | 677.8372 | 1,333.0797 | 1,446.0526 | 1,208.8096 | 1,107.134 | 1,107.134 | 1,107.134 |
| Holiday pay and holiday allowance accrued | LIABILITIES | People | 340,285.275 | 359,263.3688 | 378,342.525 | 390,723.7125 | 407,731.9125 | 261,704.4375 | 265,961.4375 | 257,447.4375 | 271,145.6756 | 290,052.8149 | 311,133.0208 | 335,220.4396 | 358,170.8019 | 379,297.9487 | 400,593.05 | 414,713.4197 | 434,355.3023 | 262,396.3151 | 267,361.9993 | 257,431.9193 | 273,568.348 | 295,290.4956 | 318,874.5403 | 333,149.0935 | 335,220.4396 | 333,149.0935 |
| Christmas allowance accrued | LIABILITIES | People | 13,334.0625 | 26,889.8438 | 40,517.8125 | 53,975.625 | 67,263.2812 | 80,442.6562 | 93,745.7812 | 107,048.9062 | 120,220.2891 | 133,725.3886 | -13,868.5565 | 0 | 15,098.9225 | 30,189.7417 | 45,400.5283 | 60,748.7563 | 76,093.9771 | 91,613.7413 | 107,131.5042 | 122,647.2542 | 138,163.051 | 153,678.8707 | -15,515.8189 | 0 | 0 | 0 |
| Corporate income tax payable / (recoverable) | LIABILITIES | Tax | 111,026.9539 | 119,147.9582 | 131,938.1174 | 147,415.0939 | 158,721.9006 | 53,045.2658 | -8,242.1246 | -419.6435 | -54,705.1444 | -32,527.7364 | -11,753.8119 | -61,099.9851 | -46,951.9964 | -28,567.5875 | -8,705.6696 | 12,375.3973 | 31,728.0733 | 55,997.6962 | 31,423.3128 | 47,854.2731 | 86,838.9672 | 112,879.7141 | 137,625.6286 | 116,927.1992 | -61,099.9851 | 116,927.1992 |
| Dividends payable | LIABILITIES | Financing | 0 | 0 | 360,000 | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 280,387.8943 | 280,387.8943 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| IRS withheld on dividends payable | LIABILITIES | Financing | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78,508.6104 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Provision: onerous projects (IAS 37) | LIABILITIES | Projects | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 1,671.4286 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank term loan | LIABILITIES | Financing | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | 500,000.08 | 900,000.04 | 500,000.08 |
| TOTAL LIABILITIES | LIABILITIES | 2,836,915.529 | 2,622,725.2435 | 3,072,668.4112 | 2,997,572.8577 | 2,726,711.7669 | 2,475,700.7651 | 2,215,487.1449 | 2,077,237.2972 | 2,259,031.8106 | 2,235,095.5227 | 2,159,375.9837 | 2,008,373.672 | 2,432,263.9574 | 2,238,094.3093 | 2,560,839.4147 | 2,509,524.167 | 2,318,305.8814 | 2,184,315.1928 | 1,942,989.1145 | 1,849,656.7916 | 2,094,101.1204 | 2,071,959.7946 | 1,904,708.9963 | 1,802,907.892 | 2,008,373.672 | 1,802,907.892 | |
| Share capital | EQUITY | Financing | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 |
| Legal reserve | EQUITY | Financing | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| Retained earnings: opening (memo) | EQUITY | 1,221,984.94 | 1,248,674.5456 | 1,283,687.4939 | 973,288.3554 | 1,033,308.825 | 1,077,157.1732 | 1,077,453.166 | 1,123,203.2815 | 1,153,539.2449 | 1,226,443.0391 | 1,312,448.1092 | 1,393,010.4017 | 1,485,069.1495 | 1,551,167.2568 | 1,627,061.8678 | 1,428,668.045 | 1,515,695.0133 | 1,595,586.8299 | 1,695,776.8115 | 1,785,758.3472 | 1,853,588.7221 | 1,953,721.8956 | 2,061,223.4406 | 2,163,379.6517 | |||
| Net profit (memo) | EQUITY | PL | 26,689.6056 | 35,012.9482 | 49,600.8615 | 60,020.4696 | 43,848.3482 | 295.9929 | 45,750.1155 | 30,335.9634 | 72,903.7942 | 86,005.0701 | 80,562.2925 | 92,058.7478 | 66,098.1072 | 75,894.611 | 81,994.0715 | 87,026.9683 | 79,891.8166 | 100,189.9816 | 89,981.5357 | 67,830.3749 | 100,133.1735 | 107,501.5449 | 102,156.2111 | 105,982.2689 | 623,084.2095 | 1,064,680.6653 |
| Dividends declared (memo) | EQUITY | Financing | 0 | 0 | -360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -280,387.8943 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -360,000 | -280,387.8943 |
| Retained earnings | EQUITY | 1,248,674.5456 | 1,283,687.4939 | 973,288.3554 | 1,033,308.825 | 1,077,157.1732 | 1,077,453.166 | 1,123,203.2815 | 1,153,539.2449 | 1,226,443.0391 | 1,312,448.1092 | 1,393,010.4017 | 1,485,069.1495 | 1,551,167.2568 | 1,627,061.8678 | 1,428,668.045 | 1,515,695.0133 | 1,595,586.8299 | 1,695,776.8115 | 1,785,758.3472 | 1,853,588.7221 | 1,953,721.8956 | 2,061,223.4406 | 2,163,379.6517 | 2,269,361.9205 | 1,485,069.1495 | 2,269,361.9205 | |
| TOTAL EQUITY | EQUITY | 1,308,674.5456 | 1,343,687.4939 | 1,033,288.3554 | 1,093,308.825 | 1,137,157.1732 | 1,137,453.166 | 1,183,203.2815 | 1,213,539.2449 | 1,286,443.0391 | 1,372,448.1092 | 1,453,010.4017 | 1,545,069.1495 | 1,611,167.2568 | 1,687,061.8678 | 1,488,668.045 | 1,575,695.0133 | 1,655,586.8299 | 1,755,776.8115 | 1,845,758.3472 | 1,913,588.7221 | 2,013,721.8956 | 2,121,223.4406 | 2,223,379.6517 | 2,329,361.9205 | 1,545,069.1495 | 2,329,361.9205 | |
| TOTAL LIABILITIES AND EQUITY | EQUITY | 4,145,590.0746 | 3,966,412.7374 | 4,105,956.7666 | 4,090,881.6826 | 3,863,868.94 | 3,613,153.9311 | 3,398,690.4264 | 3,290,776.5421 | 3,545,474.8497 | 3,607,543.6319 | 3,612,386.3854 | 3,553,442.8215 | 4,043,431.2141 | 3,925,156.1771 | 4,049,507.4597 | 4,085,219.1803 | 3,973,892.7113 | 3,940,092.0043 | 3,788,747.4618 | 3,763,245.5137 | 4,107,823.0161 | 4,193,183.2352 | 4,128,088.648 | 4,132,269.8125 | 3,553,442.8215 | 4,132,269.8125 | |
| 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 | |
| Net debt (loan less cash) | MEMO | 185,380.9685 | 42,077.1665 | -85,102.2166 | -88,962.9097 | -17,907.7153 | 219,520.3326 | 346,998.4193 | 191,280.4772 | 193,211.3878 | 235,245.0581 | 236,746.2674 | 154,302.4188 | 23,700.7193 | -108,347.8047 | -299,733.5762 | -402,330.6623 | -379,363.8024 | -311,764.1351 | -304,130.0044 | -578,656.4689 | -692,665.227 | -688,082.0752 | -752,148.0717 | -830,212.0701 | 154,302.4188 | -830,212.0701 | |
| Trade working capital (receivables + stock - trade payables) | MEMO | 790,017.836 | 707,838.3854 | 636,134.6544 | 766,210.4169 | 661,952.2096 | 636,467.2128 | 690,059.4004 | 640,158.9399 | 615,168.431 | 747,185.0678 | 919,874.2353 | 826,414.4863 | 862,636.1698 | 882,349.4829 | 806,676.7617 | 844,738.7042 | 816,978.1244 | 842,046.2281 | 864,592.4035 | 767,042.8947 | 738,159.2583 | 905,227.4459 | 928,658.6242 | 890,317.7888 | 826,414.4863 | 890,317.7888 | |
| Contract liabilities, total | MEMO | 339,709.62 | 297,174.8633 | 290,560.9867 | 274,929.48 | 232,170.8333 | 243,339.0933 | 206,420.1233 | 176,480.28 | 162,526.6667 | 134,697.0833 | 135,927.5 | 118,092.9167 | 342,863.3333 | 323,509.25 | 306,745.1667 | 287,754.8333 | 260,623.5 | 241,567.6667 | 216,411.8333 | 185,712 | 172,830.7667 | 152,004.8333 | 127,744.5 | 117,958.4667 | 118,092.9167 | 117,958.4667 |
| 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 | 26,689.6056 | 35,012.9482 | 49,600.8615 | 60,020.4696 | 43,848.3482 | 295.9929 | 45,750.1155 | 30,335.9634 | 72,903.7942 | 86,005.0701 | 80,562.2925 | 92,058.7478 | 66,098.1072 | 75,894.611 | 81,994.0715 | 87,026.9683 | 79,891.8166 | 100,189.9816 | 89,981.5357 | 67,830.3749 | 100,133.1735 | 107,501.5449 | 102,156.2111 | 105,982.2689 | 623,084.2095 | 1,064,680.6653 |
| Add back: depreciation and amortisation | OPERATING ACTIVITIES (indirect) | 9,266.67 | 9,316.67 | 9,402.7811 | 9,761.1144 | 9,811.1144 | 9,861.1144 | 9,947.2256 | 10,033.3367 | 10,083.3367 | 10,133.3367 | 10,291.67 | 10,439.0195 | 10,513.8749 | 10,734.1698 | 10,810.8541 | 10,923.6281 | 11,037.9875 | 11,116.2182 | 11,230.9636 | 11,310.0146 | 11,289.0562 | 8,368.5142 | 8,447.9675 | 8,527.416 | 118,347.3895 | 124,310.6647 | |
| (Increase) / decrease in customer receivables | OPERATING ACTIVITIES (indirect) | BS movement | -16,924.5931 | 244,805.6226 | -5,544.6739 | -52,388.3401 | 83,845.2161 | -25,120.9404 | 23,496.7154 | 153,971.8814 | -227,880.9971 | -117,497.9827 | -112,113.8494 | 98,379.089 | -228,967.3212 | 192,528.4446 | 24,338.6641 | 14,001.2436 | 8,593.3533 | -66,955.9136 | 67,736.2846 | 189,347.8756 | -218,048.7933 | -131,100.1725 | 43,634.6134 | 23,689.0192 | 47,027.1479 | -81,202.7022 |
| (Increase) / decrease in contract assets | OPERATING ACTIVITIES (indirect) | BS movement | 0 | -1,309.09 | -20,562.7 | 16,346.79 | -8,954.38 | 6,191.88 | 1,496.01 | 6,791.49 | -14,144.7619 | -25,427.619 | 39,572.381 | -8,800 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8,800 | 8,800 |
| (Increase) / decrease in hardware stock | OPERATING ACTIVITIES (indirect) | BS movement | 22,595.4 | -2,364.02 | -15,583.04 | 5,240.96 | 7,184.31 | -13,816.58 | 15,812.64 | 24,687.52 | -56,492.7164 | -5,434.9004 | 15,617.8732 | 11,258.0081 | 8,958.6271 | -12,414.0975 | -2,815.5685 | 6,121.7285 | -1,642.415 | -14,094.9066 | 21,261.8083 | 28,667.6067 | -55,483.7638 | -5,434.9004 | 15,617.8732 | 11,258.0081 | 8,705.4545 | 0 |
| (Increase) / decrease in prepaid licences, rebates receivable, deposit and capitalised commissions | OPERATING ACTIVITIES (indirect) | BS movement | -170,109.52 | 41,798.6267 | -510.3433 | 8,441.9227 | 32,537.9577 | 5,938.157 | 5,999.497 | 36,614.2683 | 272.5905 | 6,491.383 | 12,259.2157 | -527.2396 | -184,094.5887 | 28,902.3497 | 5,427.072 | 6,622.3736 | 39,853.6572 | 6,933.1464 | 12,993.8644 | 40,215.0799 | 1,201.9165 | 7,750.1767 | 30,986.9457 | -64.7893 | -20,793.4844 | -3,272.796 |
| Increase / (decrease) in trade payables | OPERATING ACTIVITIES (indirect) | BS movement | 58,553.2071 | -160,262.152 | 92,831.4449 | -82,928.3824 | 13,228.6812 | 64,422.5172 | -92,901.543 | -128,758.9408 | 309,364.2225 | -9,083.7537 | -76,193.1914 | -16,177.348 | 183,787.0105 | -199,827.6601 | 54,149.6256 | -58,184.9146 | 20,809.6415 | 55,982.7166 | -111,544.2683 | -120,465.9734 | 302,416.1935 | -30,533.1147 | -82,683.6648 | 3,393.8081 | -27,905.2386 | 17,299.3997 |
| Increase / (decrease) in contract liabilities and SLA credits due | OPERATING ACTIVITIES (indirect) | BS movement | 212,741.17 | -42,534.7567 | -3,378.1467 | -14,025.5267 | -42,159.3167 | 9,547.34 | -29,425.08 | -32,253.4533 | -14,589.6689 | -35,320.7092 | 13,243.5681 | -28,613.8837 | 226,405.8305 | -18,028.5156 | -21,832.1345 | -16,532.2708 | -29,589.3959 | -19,055.8333 | -23,052.6601 | -27,260.4705 | -15,623.9961 | -23,625.7066 | -24,260.3333 | -9,786.0333 | -6,768.4637 | -2,241.5196 |
| Increase / (decrease) in payroll liabilities (TSU, IRS, commissions, holiday and Christmas accruals) | OPERATING ACTIVITIES (indirect) | BS movement | 34,990.5053 | 33,482.7849 | 37,951.4614 | 22,195.3859 | 31,427.8169 | -71,219.016 | -42,301.5895 | 943.9149 | 24,553.4291 | 34,272.4333 | -43,180.3437 | -37,551.3729 | 42,348.3163 | 38,215.9662 | 32,680.8127 | 31,322.2672 | 33,091.0952 | -80,806.2241 | -55,643.3185 | 5,123.9169 | 32,162.1528 | 37,614.8215 | -70,443.7797 | -45,765.4431 | 25,565.4094 | -99.4165 |
| Increase / (decrease) in VAT, IRC and withholdings | OPERATING ACTIVITIES (indirect) | BS movement | -11,383.4134 | -11,542.8316 | -4,128.262 | 32,996.2997 | 19,175.0579 | -129,775.653 | -57,520.6477 | 58,060.5317 | -103,364.4279 | 20,364.786 | 64,579.4723 | -35,326.3771 | 4,682.458 | 18,803.8914 | 10,692.2372 | 25,413.0007 | 19,682.9874 | 21,730.5927 | -17,752.5013 | 82,603.534 | -41,176.6913 | 27,736.004 | 43,470.3095 | -16,310.106 | -157,865.4651 | 179,575.7164 |
| Increase / (decrease) in the onerous project provision | OPERATING ACTIVITIES (indirect) | BS movement | 0 | 0 | 0 | 0 | 0 | 10,147.14 | -4,731.43 | -2,908.57 | -835.7114 | -835.7143 | -835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| NET CASH FROM OPERATING ACTIVITIES | OPERATING ACTIVITIES (indirect) | 166,419.0315 | 146,403.802 | 140,079.3831 | 5,660.6931 | 189,944.8056 | -133,528.0479 | -124,378.0867 | 157,517.9421 | -130.9107 | -36,333.6702 | 3,803.374 | 85,138.6431 | 138,532.3147 | 134,809.1595 | 195,445.6343 | 106,714.0245 | 181,728.728 | 15,039.7777 | -4,788.2917 | 277,371.9587 | 116,869.2479 | -1,722.8329 | 66,926.1425 | 80,924.1484 | 600,596.959 | 1,307,850.0118 | |
| Capital expenditure (IT equipment) | INVESTING ACTIVITIES | Fixed_Assets | -1,800 | -3,100 | -12,900 | -1,800 | -1,800 | -3,100 | -3,100 | -1,800 | -1,800 | -5,700 | -5,304.5833 | -2,694.7945 | -7,930.6152 | -2,760.6355 | -4,059.8628 | -4,116.9383 | -2,816.304 | -4,130.8347 | -2,845.8389 | -2,845.4942 | -2,860.4899 | -2,860.3189 | -2,860.146 | -2,860.15 | -44,899.3778 | -42,947.6285 |
| NET CASH FROM INVESTING ACTIVITIES | INVESTING ACTIVITIES | -1,800 | -3,100 | -12,900 | -1,800 | -1,800 | -3,100 | -3,100 | -1,800 | -1,800 | -5,700 | -5,304.5833 | -2,694.7945 | -7,930.6152 | -2,760.6355 | -4,059.8628 | -4,116.9383 | -2,816.304 | -4,130.8347 | -2,845.8389 | -2,845.4942 | -2,860.4899 | -2,860.3189 | -2,860.146 | -2,860.15 | -44,899.3778 | -42,947.6285 | |
| Bank loan repaid | FINANCING ACTIVITIES | BS movement | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -399,999.96 | -399,999.96 |
| Dividends paid incl. the IRS withheld paid to the State | FINANCING ACTIVITIES | declared + movement in dividends and withholding payable | 0 | 0 | 0 | 0 | -259,200 | -100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -201,879.2839 | -78,508.6104 | 0 | 0 | 0 | 0 | 0 | 0 | -360,000 | -280,387.8943 |
| NET CASH FROM FINANCING ACTIVITIES | FINANCING ACTIVITIES | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -292,533.33 | -134,133.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -235,212.6139 | -111,841.9404 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -759,999.96 | -680,387.8543 | |
| NET CASH FLOW FOR THE MONTH | CASH | 131,285.7015 | 109,970.472 | 93,846.0531 | -29,472.6369 | -104,388.5244 | -270,761.3779 | -160,811.4167 | 122,384.6121 | -35,264.2407 | -75,367.0002 | -34,834.5393 | 49,110.5186 | 97,268.3695 | 98,715.194 | 158,052.4415 | 69,263.7562 | -56,300.1899 | -100,932.9973 | -40,967.4607 | 241,193.1345 | 80,675.4281 | -37,916.4818 | 30,732.6666 | 44,730.6684 | -204,302.3788 | 584,514.529 | |
| Opening cash | CASH | 950,000 | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 806,788.6422 | 731,421.6419 | 696,587.1026 | 745,697.6212 | 842,965.9907 | 941,681.1847 | 1,099,733.6262 | 1,168,997.3823 | 1,112,697.1924 | 1,011,764.1951 | 970,796.7344 | 1,211,989.8689 | 1,292,665.297 | 1,254,748.8152 | 1,285,481.4817 | |||
| CLOSING CASH (to balance sheet) | CASH | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 806,788.6422 | 731,421.6419 | 696,587.1026 | 745,697.6212 | 842,965.9907 | 941,681.1847 | 1,099,733.6262 | 1,168,997.3823 | 1,112,697.1924 | 1,011,764.1951 | 970,796.7344 | 1,211,989.8689 | 1,292,665.297 | 1,254,748.8152 | 1,285,481.4817 | 1,330,212.1501 | 745,697.6212 | 1,330,212.1501 | |
| Free cash flow (operating less capex, before financing) | CASH | memo | 164,619.0315 | 143,303.802 | 127,179.3831 | 3,860.6931 | 188,144.8056 | -136,628.0479 | -127,478.0867 | 155,717.9421 | -1,930.9107 | -42,033.6702 | -1,501.2093 | 82,443.8486 | 130,601.6995 | 132,048.524 | 191,385.7715 | 102,597.0862 | 178,912.424 | 10,908.9431 | -7,634.1307 | 274,526.4645 | 114,008.7581 | -4,583.1518 | 64,065.9966 | 78,063.9984 | 555,697.5812 | 1,264,902.3833 |
| Receipts: customers in Portugal | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 858,639.12 | 855,237.39 | 696,752.39 | 683,693.77 | 729,320.38 | 690,855.75 | 685,015.9 | 671,031.68 | 570,920.8309 | 716,588.6375 | 815,426.3829 | 902,368.2231 | 841,020.8192 | 982,711.5895 | 861,481.894 | 835,809.0947 | 823,328.2552 | 814,521.8658 | 860,044.5318 | 817,297.0451 | 690,715.7281 | 830,185.747 | 923,077.8175 | 895,428.735 | 8,875,850.4544 | 10,175,623.1228 |
| Receipts: customers in Spain | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 79,177.2092 | 93,676.4036 | 96,745.2361 | 99,247.7511 | 94,679.3 | 98,461.9539 | 114,644.3675 | 95,353.4836 | 101,409.9299 | 103,402.7031 | 102,393.7013 | 106,853.3657 | 96,141.7791 | 86,931.6567 | 110,900.8746 | 113,831.2053 | 1,150,366.8801 | 1,225,004.3208 |
| Rebates and incentives received | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 32,143.3 | 0 | 0 | 23,683.86 | 0 | 0 | 19,254.82 | 0 | 0 | 18,318.5778 | 0 | 0 | 22,524.8557 | 0 | 0 | 25,946.8433 | 0 | 0 | 21,350.6239 | 0 | 0 | 19,747.4885 | 0 | 93,400.5578 | 89,569.8113 |
| IRC refunded | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,099.9851 | 0 | 0 | 0 | 0 | 61,099.9851 |
| Net pay and meal cards | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -109,386.22 | -110,723.56 | -111,188.41 | -111,996.97 | -108,117.18 | -203,064.63 | -107,552.39 | -109,658 | -107,045.967 | -110,970.1605 | -210,079.2583 | -122,880.4663 | -122,943.6061 | -125,216.7379 | -126,554.9612 | -124,459.7083 | -126,769.6796 | -236,167.0004 | -125,077.8791 | -123,546.6863 | -125,744.8544 | -126,653.7513 | -236,245.5256 | -125,889.8511 | -1,522,663.2122 | -1,725,270.2413 |
| Work accident and health insurance | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -3,533.66 | -3,588.24 | -3,595.58 | -3,546.26 | -3,496.94 | -3,485.91 | -3,530.51 | -3,530.51 | -3,494.8196 | -3,602.7723 | -3,703.138 | -3,700.6751 | -4,014.4892 | -4,012.2436 | -4,055.8344 | -4,102.2778 | -4,101.2264 | -4,151.4282 | -4,150.8548 | -4,150.2758 | -4,150.2893 | -4,150.2959 | -4,150.2956 | -4,150.2955 | -42,809.0151 | -49,339.8064 |
| Social security (20th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -44,038.67 | -45,315.69 | -45,932.9 | -46,187.05 | -46,962.7 | -45,041.5 | -90,165.95 | -45,140.12 | -46,692.32 | -44,543.7697 | -45,882.4324 | -92,478.8712 | -51,588.7146 | -51,189.6857 | -52,340.6232 | -52,842.3846 | -52,051.976 | -52,900.4558 | -104,911.0416 | -52,645.4642 | -52,575.2336 | -52,473.8756 | -52,657.9503 | -104,557.8747 | -638,381.9733 | -732,735.2798 |
| IRS withheld (20th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -19,781.39 | -20,355.69 | -20,648.52 | -20,834.62 | -21,215.21 | -20,426.49 | -40,607.39 | -20,243.89 | -20,916.9 | -19,986.6785 | -20,395.2375 | -41,178.1852 | -22,853.9212 | -23,356.0785 | -23,855.9031 | -23,993.1268 | -23,579.5542 | -23,949.2033 | -47,436.0489 | -23,800.8065 | -23,770.7971 | -23,726.8399 | -23,806.6465 | -47,310.8304 | -286,590.2012 | -331,439.7564 |
| IRC withheld on rent (20th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -2,560.97 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -2,690.625 | -31,435.97 | -32,221.875 |
| Hardware distributors | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -265,273.96 | -171,017.48 | -213,959.75 | -259,420.58 | -209,385.41 | -218,285.26 | -272,849.15 | -190,772.21 | -99,562.9463 | -357,399.6786 | -318,998.0258 | -241,864.2465 | -225,267.3659 | -203,696.1437 | -239,744.3793 | -259,657.4877 | -224,265.1515 | -246,014.7784 | -290,610.6961 | -198,323.0151 | -111,135.6085 | -356,158.6669 | -318,998.0258 | -241,864.2465 | -2,818,788.6972 | -2,915,735.5656 |
| Licence distributor | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -193,719.66 | -349,276.45 | -139,566.97 | -159,995.68 | -146,302.45 | -141,212.09 | -151,673.02 | -141,778.32 | -118,786.577 | -166,629.434 | -164,404.0745 | -173,108.6198 | -192,941.5708 | -379,201.6089 | -156,750.244 | -176,319.7162 | -162,972.6415 | -159,983.897 | -171,973.7269 | -159,704.1325 | -135,354.617 | -181,779.6329 | -179,438.1364 | -181,960.431 | -2,046,453.3454 | -2,238,380.3551 |
| Tooling vendor in USD (15th) | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -19,321.57 | -19,196.39 | -19,532.52 | -20,019.3 | -20,160.36 | -19,710.27 | -19,650.61 | -20,065.48 | -19,865.8814 | -19,907.8223 | -19,886.8674 | -21,258.0457 | -21,276.5402 | -21,624.68 | -22,019.2684 | -21,985.9505 | -22,240.9473 | -22,281.332 | -22,331.2883 | -22,371.766 | -22,354.9012 | -22,405.1398 | -22,448.4734 | -22,484.711 | -238,575.1168 | -265,824.9981 |
| Other suppliers incl. VAT and IT equipment | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -41,041.89 | -38,265.72 | -44,873.9 | -71,149.64 | -51,792.63 | -61,416.53 | -60,928.04 | -59,626.62 | -45,069.4557 | -48,959.2996 | -80,523.5131 | -71,388.3774 | -51,956.4645 | -70,706.5194 | -56,887.4001 | -71,587.7631 | -61,887.2624 | -63,895.6368 | -63,242.6494 | -56,215.1788 | -47,302.9922 | -58,220.8729 | -67,146.5622 | -59,038.1445 | -675,035.6158 | -728,087.4462 |
| Direct debits: insurance, travel, telecoms, vans | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -16,102.1185 | -15,925.6652 | -14,697.0943 | -14,607.3129 | -15,080.9995 | -15,945.7674 | -15,615.2122 | -16,004.1479 | -15,740.7 | -15,686.0452 | -15,687.328 | -15,687.9506 | -16,080.1266 | -16,080.1194 | -16,080.1198 | -16,889.8699 | -16,880.4228 | -16,871.0859 | -16,871.3051 | -16,871.4114 | -16,871.4076 | -16,871.4064 | -16,871.4065 | -16,871.4065 | -186,780.3417 | -200,110.0881 |
| Rent, net of the IRC withheld | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -7,875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -8,071.875 | -94,500 | -96,862.5 |
| VAT | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -72,032.56 | -63,480.47 | -55,311.12 | -43,816.63 | -38,392.7 | -61,335.95 | -46,260.95 | 0 | -87,264.6245 | -50,238.0505 | -38,185.6976 | -48,425.4285 | -81,991.2454 | -62,445.2246 | -72,460.0898 | -62,864.7072 | -63,290.4091 | -67,196.641 | -63,620.7204 | 0 | -135,100.2134 | -66,172.5736 | -54,938.828 | -67,867.8307 | -604,744.1812 | -797,948.4833 |
| IRC: payments on account and balance | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | 0 | -105,752.96 | -73,084.59 | 0 | -73,084.5925 | 0 | 0 | -73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | -46,371.153 | 0 | -46,371.153 | 0 | 0 | -46,371.153 | -325,006.735 | -139,113.4589 |
| Loan interest | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -4,752.58 | -4,640.22 | -4,699 | -4,704 | -4,652.08 | -4,578.67 | -4,477.92 | -4,409.78 | -4,004.1668 | -3,875.0001 | -3,745.8335 | -3,616.6668 | -3,487.5002 | -3,358.3335 | -3,229.1668 | -3,100.0002 | -2,970.8335 | -2,841.6669 | -2,712.5002 | -2,583.3336 | -2,454.1669 | -2,325.0003 | -2,195.8336 | -2,066.667 | -52,155.9172 | -33,325.0027 |
| Loan principal | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -33,333.33 | -399,999.96 | -399,999.96 |
| Dividends paid, net | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | -259,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -201,879.2839 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -259,200 | -201,879.2839 |
| IRS withheld on dividends paid to the State | DIRECT METHOD (built from the cash lines of each schedule) | schedule cash line | 0 | 0 | 0 | 0 | 0 | -100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -78,508.6104 | 0 | 0 | 0 | 0 | 0 | 0 | -100,800 | -78,508.6104 |
| NET CASH FLOW, DIRECT METHOD | DIRECT METHOD (built from the cash lines of each schedule) | 131,285.6915 | 109,970.4548 | 93,846.0557 | -29,472.6229 | -104,388.5295 | -270,761.3774 | -160,811.4122 | 122,384.6121 | -35,264.2407 | -75,367.0002 | -34,834.5393 | 49,110.5186 | 97,268.3695 | 98,715.194 | 158,052.4415 | 69,263.7562 | -56,300.1899 | -100,932.9973 | -40,967.4607 | 241,193.1345 | 80,675.4281 | -37,916.4818 | 30,732.6666 | 44,730.6684 | -204,302.3896 | 584,514.529 | |
| CHECK: indirect less direct (must be zero) | DIRECT METHOD (built from the cash lines of each schedule) | 0.01 | 0.02 | 0 | -0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.03 | 0 |
Operating drivers
Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C01 Brevanor Têxteis, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 422 | 423 | 422 | 423 | 423 | 424 | 424 | 425 | 426.105 | 427.2129 | 428.3236 | 429.4373 | 430.5538 | 431.6732 | 411.1558 | 412.2248 | 413.2966 | 414.3712 | 415.4485 | 416.5287 | 417.6117 | 418.6975 | 419.7861 | 420.8775 | 429.4373 | 420.8775 |
| C02 Clínicas Almedra, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 260 | 262 | 262 | 263 | 265 | 266 | 267 | 269 | 270.3988 | 271.8049 | 273.2183 | 274.639 | 276.0671 | 277.5027 | 278.9457 | 280.3962 | 281.8543 | 283.3199 | 284.7932 | 286.2741 | 287.7627 | 289.2591 | 290.7632 | 292.2752 | 274.639 | 292.2752 |
| C03 Solvinha Calçado, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 150 | 151 | 152 | 152 | 153 | 153 | 153 | 153 | 153.1989 | 145.7282 | 145.9176 | 146.1073 | 146.2972 | 146.4874 | 146.6779 | 146.8685 | 147.0595 | 147.2506 | 147.4421 | 147.6337 | 147.8257 | 148.0178 | 148.2103 | 148.4029 | 146.1073 | 148.4029 |
| C04 Valcorra Advogados | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 95 | 95 | 95 | 96 | 96 | 96 | 95 | 96 | 96.2496 | 96.4998 | 96.7507 | 97.0023 | 97.2545 | 97.5074 | 97.7609 | 98.0151 | 98.2699 | 98.5254 | 98.7816 | 99.0384 | 99.2959 | 99.5541 | 99.8129 | 100.0724 | 97.0023 | 100.0724 |
| C05 Colégios Maravel | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 311 | 312 | 312 | 312 | 312 | 312 | 313 | 314 | 314.8164 | 315.6349 | 316.4556 | 317.2784 | 318.1033 | 318.9304 | 319.7596 | 320.5909 | 321.4245 | 322.2602 | 323.0981 | 310.9806 | 311.7891 | 312.5998 | 313.4126 | 314.2274 | 317.2784 | 314.2274 |
| C06 Metalúrgica Vaurinho, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 121 | 121 | 122 | 122 | 121 | 122 | 122 | 122 | 122.1586 | 122.3174 | 122.4764 | 122.6356 | 122.7951 | 122.9547 | 123.1145 | 123.2746 | 123.4348 | 123.5953 | 123.756 | 123.9169 | 124.078 | 124.2393 | 124.4008 | 124.5625 | 122.6356 | 124.5625 |
| C07 Quintas Delvara, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 86 | 86 | 87 | 87 | 87 | 87 | 88 | 88 | 88.3432 | 88.6877 | 89.0336 | 89.3809 | 89.7294 | 86.4762 | 86.8135 | 87.152 | 87.4919 | 87.8331 | 88.1757 | 88.5196 | 88.8648 | 89.2114 | 89.5593 | 89.9086 | 89.3809 | 89.9086 |
| C08 Farmácias Oliveda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 180 | 181 | 182 | 183 | 184 | 185 | 185 | 185 | 185.7215 | 186.4458 | 187.173 | 187.9029 | 188.6357 | 189.3714 | 190.11 | 190.8514 | 191.5957 | 192.3429 | 193.0931 | 193.8461 | 194.6021 | 195.3611 | 196.123 | 196.8879 | 187.9029 | 196.8879 |
| C09 Moldivel Plásticos, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 139 | 140 | 140 | 141 | 142 | 142 | 142 | 143 | 143.3718 | 143.7446 | 144.1183 | 144.493 | 144.8687 | 145.2454 | 145.623 | 146.0016 | 146.3812 | 146.7618 | 147.1434 | 147.526 | 147.9095 | 148.2941 | 148.6797 | 149.0662 | 144.493 | 149.0662 |
| C10 Pravel Contabilidade, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 60 | 60 | 60 | 60 | 60 | 61 | 61 | 61 | 61.1586 | 61.3176 | 61.477 | 61.6369 | 61.7971 | 61.9578 | 62.1189 | 62.2804 | 62.4423 | 62.6047 | 62.7675 | 62.9307 | 63.0943 | 61.3606 | 61.5201 | 61.6801 | 61.6369 | 61.6801 |
| C11 Hotéis Alvenosa | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 130 | 131 | 131 | 131 | 131 | 131 | 131 | 132 | 132.3432 | 132.6873 | 133.0323 | 133.3782 | 133.7249 | 134.0726 | 134.4212 | 134.7707 | 135.1211 | 135.4724 | 135.8247 | 136.1778 | 136.5319 | 136.8869 | 137.2428 | 137.5996 | 133.3782 | 137.5996 |
| C12 Cerâmicas Lovredo, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 110 | 110 | 111 | 110 | 110 | 111 | 111 | 111 | 111.1443 | 111.2888 | 106.9761 | 107.1152 | 107.2544 | 107.3939 | 107.5335 | 107.6733 | 107.8133 | 107.9534 | 108.0938 | 108.2343 | 108.375 | 108.5159 | 108.6569 | 108.7982 | 107.1152 | 108.7982 |
| C13 Castelvi Imobiliária | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 70 | 70 | 70 | 71 | 71 | 71 | 71 | 71 | 71.2769 | 71.5549 | 71.8339 | 72.1141 | 72.3953 | 72.6777 | 72.9611 | 73.2457 | 73.5313 | 73.8181 | 74.106 | 74.395 | 74.6851 | 74.9764 | 75.2688 | 75.5624 | 72.1141 | 75.5624 |
| C14 Agrícola Vinhedal | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 90 | 91 | 91 | 91 | 92 | 92 | 92 | 92 | 92.2392 | 92.479 | 92.7195 | 92.9605 | 93.2022 | 93.4446 | 93.6875 | 93.9311 | 94.1753 | 94.4202 | 94.6657 | 94.9118 | 95.1586 | 95.406 | 95.654 | 95.9027 | 92.9605 | 95.9027 |
| C15 Engenharia Morvelo, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 75 | 76 | 76 | 77 | 77 | 77 | 77 | 78 | 78.3042 | 78.6096 | 78.9162 | 79.2239 | 79.5329 | 79.8431 | 80.1545 | 80.4671 | 78.3575 | 78.6631 | 78.9699 | 79.2778 | 79.587 | 79.8974 | 80.209 | 80.5218 | 79.2239 | 80.5218 |
| C16 Cooperativa Leiteira Bravanha | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 160 | 160 | 160 | 161 | 160 | 161 | 161 | 162 | 162.2106 | 154.3004 | 154.501 | 154.7018 | 154.903 | 155.1043 | 155.306 | 155.5079 | 155.71 | 155.9124 | 156.1151 | 156.3181 | 156.5213 | 156.7248 | 156.9285 | 157.1325 | 154.7018 | 157.1325 |
| C17 Laboratórios Cendral, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 116 | 116 | 117 | 118 | 118 | 119 | 119 | 119 | 119.6188 | 120.2408 | 120.8661 | 121.4946 | 122.1263 | 122.7614 | 123.3998 | 124.0414 | 124.6865 | 125.3348 | 125.9866 | 122.8424 | 123.4812 | 124.1233 | 124.7688 | 125.4176 | 121.4946 | 125.4176 |
| C18 Mediavir Seguros | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 55 | 55 | 55 | 55 | 55 | 56 | 56 | 56 | 56.2184 | 56.4377 | 56.6578 | 56.8787 | 57.1006 | 57.3232 | 57.5468 | 57.7712 | 57.9965 | 58.2227 | 58.4498 | 58.6778 | 58.9066 | 59.1363 | 59.367 | 59.5985 | 56.8787 | 59.5985 |
| C19 Construtora Arvedo, S.A. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 145 | 145 | 145 | 145 | 146 | 146 | 147 | 147 | 147.3822 | 147.7654 | 148.1496 | 148.5348 | 148.921 | 149.3082 | 149.6964 | 150.0856 | 150.4758 | 150.867 | 151.2593 | 151.6526 | 152.0469 | 152.4422 | 152.8385 | 153.2359 | 148.5348 | 153.2359 |
| C20 Distribuidora Pellano, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 125 | 126 | 126 | 127 | 127 | 127 | 128 | 128 | 128.3328 | 128.6665 | 129.001 | 129.3364 | 124.4858 | 124.8094 | 125.1339 | 125.4593 | 125.7855 | 126.1125 | 126.4404 | 126.7692 | 127.0988 | 127.4292 | 127.7605 | 128.0927 | 129.3364 | 128.0927 |
| C21 Gráfica Tornavel, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 |
| C22 Óticas Lumarel | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 95 | 96 | 96 | 96 | 96 | 96 | 97 | 97 | 97.3783 | 97.7581 | 98.1393 | 98.5221 | 98.9063 | 99.292 | 99.6793 | 100.068 | 100.4583 | 100.8501 | 101.2434 | 101.6383 | 102.0346 | 102.4326 | 99.7471 | 100.1361 | 98.5221 | 100.1361 |
| C23 Salmeira Arquitetos | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 40 | 40 | 40 | 41 | 41 | 41 | 41 | 41 | 41.1599 | 41.3204 | 41.4816 | 41.6434 | 41.8058 | 41.9688 | 42.1325 | 42.2968 | 42.4618 | 42.6274 | 42.7936 | 42.9605 | 43.128 | 43.2962 | 43.4651 | 43.6346 | 41.6434 | 43.6346 |
| C24 Traslovia Transportes, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 151 | 151 | 150 | 150 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| C25 Conservas Brelmar, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 140 | 141 | 142 | 142 | 141 | 141 | 142 | 143 | 143.3718 | 143.7446 | 144.1183 | 144.493 | 144.8687 | 145.2454 | 145.623 | 140.1615 | 140.526 | 140.8913 | 141.2576 | 141.6249 | 141.9931 | 142.3623 | 142.7325 | 143.1036 | 144.493 | 143.1036 |
| C26 Talleres Brañoso, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 90 | 90 | 90 | 91 | 91 | 91 | 91 | 92 | 92.2392 | 92.479 | 92.7195 | 92.9605 | 93.2022 | 93.4446 | 93.6875 | 93.9311 | 94.1753 | 94.4202 | 94.6657 | 94.9118 | 95.1586 | 95.406 | 95.654 | 95.9027 | 92.9605 | 95.9027 |
| C27 Clínica Veigadal, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 70 | 70 | 71 | 71 | 72 | 72 | 72 | 73 | 73.2847 | 73.5705 | 73.8574 | 74.1455 | 74.4346 | 74.7249 | 75.0164 | 75.3089 | 75.6026 | 75.8975 | 76.1935 | 76.4906 | 76.789 | 77.0884 | 77.3891 | 77.6909 | 74.1455 | 77.6909 |
| C28 Maderas Ouriñal, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 80 | 80 | 81 | 81 | 81 | 81 | 81 | 80 | 80.104 | 80.2081 | 80.3124 | 80.4168 | 80.5214 | 80.626 | 80.7308 | 80.8358 | 80.9409 | 81.0461 | 81.1515 | 81.257 | 81.3626 | 81.4684 | 81.5743 | 81.6803 | 80.4168 | 81.6803 |
| C29 Pesqueras Morazal, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 95 | 95 | 95 | 95 | 95 | 95 | 94 | 95 | 95.1235 | 95.2472 | 95.371 | 88.8103 | 88.9258 | 89.0414 | 89.1571 | 89.273 | 89.3891 | 89.5053 | 89.6216 | 89.7382 | 89.8548 | 89.9716 | 90.0886 | 90.2057 | 88.8103 | 90.2057 |
| C30 Bodegas Quenlla, S.L. | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 55 | 55 | 56 | 56 | 56 | 56 | 56 | 56 | 56.1456 | 56.2916 | 56.4379 | 56.5847 | 56.7318 | 56.8793 | 57.0272 | 57.1755 | 57.3241 | 57.4732 | 55.3177 | 55.4615 | 55.6057 | 55.7503 | 55.8952 | 56.0406 | 56.5847 | 56.0406 |
| C31 Ferroval Automação, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 0 | 0 | 80 | 80 | 81 | 81 | 81 | 81 | 81.4212 | 81.8446 | 82.2702 | 82.698 | 83.128 | 83.5603 | 83.9948 | 84.4316 | 84.8706 | 85.3119 | 85.7556 | 86.2015 | 86.6497 | 87.1003 | 87.5532 | 88.0085 | 82.698 | 88.0085 |
| C32 Clínica Dentária Rosmel | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 0 | 0 | 0 | 0 | 66 | 66 | 67 | 67 | 67.3484 | 67.6986 | 68.0506 | 68.4045 | 68.7602 | 69.1178 | 69.4772 | 69.8385 | 70.2016 | 70.5667 | 70.9336 | 71.3025 | 71.6732 | 72.0459 | 72.4206 | 72.7972 | 68.4045 | 72.7972 |
| C33 Mobiliário Tarvela, Lda | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | A: RMM | 0 | 0 | 0 | 0 | 0 | 0 | 108 | 109 | 109.4251 | 109.8519 | 110.2803 | 110.7104 | 111.1421 | 111.5756 | 112.0107 | 112.4476 | 112.8861 | 113.3264 | 113.7684 | 114.2121 | 114.6575 | 115.1046 | 115.5536 | 116.0042 | 110.7104 | 116.0042 |
| P01 Grupo Hospitalar Venara (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 336 | 337.3104 | 338.6259 | 339.9466 | 341.2723 | 342.6033 | 343.9395 | 345.2808 | 346.6274 | 347.9793 | 349.3364 | 350.6988 | 352.0665 | 353.4396 | 337.3104 | 353.4396 |
| P02 Exportadora Linhelo, S.A. (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78 | 78.3042 | 78.6096 | 78.9162 | 79.2239 | 79.5329 | 79.8431 | 80.1545 | 80.4671 | 80.7809 | 81.0959 | 81.4122 | 0 | 81.4122 |
| P03 Logística Crastova, Lda (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 84 | 84.2184 | 84.4374 | 84.6569 | 84.877 | 85.0977 | 85.3189 | 85.5408 | 85.7632 | 85.9862 | 86.2097 | 0 | 86.2097 |
| P04 Conservas Galmira, S.L. (pipeline) | USERS BY CONTRACT (A: RMM and billing; F: growth x scenario factor; at a 36-month renewal x the renewal probability; pipeline x win probability) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 55 | 55.143 | 55.2864 | 55.4301 | 55.5742 | 55.7187 | 55.8636 | 56.0088 | 56.1545 | 0 | 56.1545 |
| C01 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 95 | 95 | 95 | 96 | 96 | 96 | 96 | 96 | 96.1248 | 96.2498 | 96.3749 | 96.5002 | 96.6256 | 96.7512 | 92.0332 | 92.1528 | 92.2726 | 92.3926 | 92.5127 | 92.6329 | 92.7534 | 92.8739 | 92.9947 | 93.1156 | 96.5002 | 93.1156 |
| C02 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70.182 | 70.3645 | 70.5474 | 70.7308 | 70.9147 | 71.0991 | 71.284 | 71.4693 | 71.6551 | 71.8414 | 72.0282 | 72.2155 | 72.4033 | 72.5915 | 72.7803 | 72.9695 | 70.7308 | 72.9695 |
| C03 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38.0247 | 36.1469 | 36.1704 | 36.194 | 36.2175 | 36.241 | 36.2646 | 36.2881 | 36.3117 | 36.3353 | 36.359 | 36.3826 | 36.4062 | 36.4299 | 36.4536 | 36.4773 | 36.194 | 36.4773 |
| C04 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22.0286 | 22.0572 | 22.0859 | 22.1146 | 22.1434 | 22.1722 | 22.201 | 22.2298 | 22.2587 | 22.2877 | 22.3167 | 22.3457 | 22.3747 | 22.4038 | 22.4329 | 22.4621 | 22.1146 | 22.4621 |
| C05 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 85 | 85 | 85 | 85 | 86 | 86 | 86 | 87 | 87.1131 | 87.2263 | 87.3397 | 87.4533 | 87.567 | 87.6808 | 87.7948 | 87.9089 | 88.0232 | 88.1376 | 88.2522 | 84.8323 | 84.9426 | 85.053 | 85.1635 | 85.2743 | 87.4533 | 85.2743 |
| C06 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40.026 | 40.052 | 40.0781 | 40.1041 | 40.1302 | 40.1563 | 40.1824 | 40.2085 | 40.2346 | 40.2608 | 40.2869 | 40.3131 | 40.3393 | 40.3655 | 40.3918 | 40.418 | 40.1041 | 40.418 |
| C07 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 30 | 30 | 30 | 30 | 31 | 31 | 31 | 31 | 31.0604 | 31.121 | 31.1817 | 31.2425 | 31.3034 | 30.1099 | 30.1686 | 30.2274 | 30.2864 | 30.3454 | 30.4046 | 30.4639 | 30.5233 | 30.5828 | 30.6425 | 30.7022 | 31.2425 | 30.7022 |
| C08 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 90 | 90 | 91 | 91 | 91 | 91 | 91 | 91 | 91.1774 | 91.3552 | 91.5334 | 91.7119 | 91.8907 | 92.0699 | 92.2494 | 92.4293 | 92.6096 | 92.7902 | 92.9711 | 93.1524 | 93.334 | 93.516 | 93.6984 | 93.8811 | 91.7119 | 93.8811 |
| C09 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45.0585 | 45.1171 | 45.1757 | 45.2345 | 45.2933 | 45.3521 | 45.4111 | 45.4701 | 45.5292 | 45.5884 | 45.6477 | 45.707 | 45.7665 | 45.826 | 45.8855 | 45.9452 | 45.2345 | 45.9452 |
| C10 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12.0156 | 12.0312 | 12.0469 | 12.0625 | 12.0782 | 12.0939 | 12.1096 | 12.1254 | 12.1411 | 12.1569 | 12.1727 | 12.1885 | 12.2044 | 11.8536 | 11.8691 | 11.8845 | 12.0625 | 11.8845 |
| C11 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60.078 | 60.1561 | 60.2343 | 60.3126 | 60.391 | 60.4695 | 60.5481 | 60.6268 | 60.7057 | 60.7846 | 60.8636 | 60.9427 | 61.0219 | 61.1013 | 61.1807 | 61.2602 | 60.3126 | 61.2602 |
| C12 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36.0234 | 36.0468 | 34.6274 | 34.6499 | 34.6725 | 34.695 | 34.7176 | 34.7401 | 34.7627 | 34.7853 | 34.8079 | 34.8305 | 34.8532 | 34.8758 | 34.8985 | 34.9212 | 34.6499 | 34.9212 |
| C13 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15.0292 | 15.0586 | 15.0879 | 15.1173 | 15.1468 | 15.1764 | 15.206 | 15.2356 | 15.2653 | 15.2951 | 15.3249 | 15.3548 | 15.3847 | 15.4147 | 15.4448 | 15.4749 | 15.1173 | 15.4749 |
| C14 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28.0364 | 28.0728 | 28.1093 | 28.1459 | 28.1825 | 28.2191 | 28.2558 | 28.2925 | 28.3293 | 28.3661 | 28.403 | 28.4399 | 28.4769 | 28.5139 | 28.551 | 28.5881 | 28.1459 | 28.5881 |
| C15 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20.039 | 20.0781 | 20.1172 | 20.1565 | 20.1958 | 20.2351 | 20.2746 | 20.3141 | 19.7431 | 19.7816 | 19.8202 | 19.8589 | 19.8976 | 19.9364 | 19.9753 | 20.0142 | 20.1565 | 20.0142 |
| C16 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 52 | 52 | 52 | 52 | 52 | 53 | 52 | 52 | 52.0338 | 49.4642 | 49.4964 | 49.5286 | 49.5608 | 49.593 | 49.6252 | 49.6575 | 49.6897 | 49.722 | 49.7544 | 49.7867 | 49.8191 | 49.8514 | 49.8838 | 49.9163 | 49.5286 | 49.9163 |
| C17 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 42 | 42 | 42 | 43 | 43 | 43 | 43 | 43 | 43.1118 | 43.2239 | 43.3363 | 43.4489 | 43.5619 | 43.6752 | 43.7887 | 43.9026 | 44.0167 | 44.1312 | 44.2459 | 43.0301 | 43.142 | 43.2542 | 43.3666 | 43.4794 | 43.4489 | 43.4794 |
| C18 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10.0195 | 10.039 | 10.0586 | 10.0782 | 10.0979 | 10.1176 | 10.1373 | 10.1571 | 10.1769 | 10.1967 | 10.2166 | 10.2365 | 10.2565 | 10.2765 | 10.2965 | 10.3166 | 10.0782 | 10.3166 |
| C19 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38.0494 | 38.0989 | 38.1484 | 38.198 | 38.2476 | 38.2974 | 38.3472 | 38.397 | 38.4469 | 38.4969 | 38.5469 | 38.5971 | 38.6472 | 38.6975 | 38.7478 | 38.7982 | 38.198 | 38.7982 |
| C20 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40.052 | 40.1041 | 40.1562 | 40.2084 | 38.6502 | 38.7005 | 38.7508 | 38.8012 | 38.8516 | 38.9021 | 38.9527 | 39.0033 | 39.054 | 39.1048 | 39.1557 | 39.2066 | 40.2084 | 39.2066 |
| C21 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| C22 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 50 | 50 | 50 | 50 | 51 | 51 | 51 | 51 | 51.0994 | 51.1991 | 51.2989 | 51.399 | 51.4992 | 51.5996 | 51.7002 | 51.8011 | 51.9021 | 52.0033 | 52.1047 | 52.2063 | 52.3081 | 52.4101 | 50.9369 | 51.0362 | 51.399 | 51.0362 |
| C23 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9.0175 | 9.0351 | 9.0528 | 9.0704 | 9.0881 | 9.1058 | 9.1236 | 9.1414 | 9.1592 | 9.177 | 9.1949 | 9.2129 | 9.2308 | 9.2488 | 9.2669 | 9.2849 | 9.0704 | 9.2849 |
| C24 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 40 | 40 | 40 | 40 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| C25 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 45 | 45 | 46 | 46 | 46 | 46 | 47 | 47 | 47.0611 | 47.1223 | 47.1835 | 47.2449 | 47.3063 | 47.3678 | 47.4294 | 45.5914 | 45.6507 | 45.71 | 45.7694 | 45.8289 | 45.8885 | 45.9482 | 46.0079 | 46.0677 | 47.2449 | 46.0677 |
| C26 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34.0442 | 34.0885 | 34.1328 | 34.1771 | 34.2216 | 34.2661 | 34.3106 | 34.3552 | 34.3999 | 34.4446 | 34.4894 | 34.5342 | 34.5791 | 34.6241 | 34.6691 | 34.7141 | 34.1771 | 34.7141 |
| C27 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18.0351 | 18.0703 | 18.1055 | 18.1408 | 18.1762 | 18.2116 | 18.2471 | 18.2827 | 18.3184 | 18.3541 | 18.3899 | 18.4257 | 18.4617 | 18.4977 | 18.5337 | 18.5699 | 18.1408 | 18.5699 |
| C28 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30.0195 | 30.039 | 30.0585 | 30.0781 | 30.0976 | 30.1172 | 30.1368 | 30.1564 | 30.176 | 30.1956 | 30.2152 | 30.2348 | 30.2545 | 30.2742 | 30.2938 | 30.3135 | 30.0781 | 30.3135 |
| C29 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36.0234 | 36.0468 | 36.0702 | 33.5671 | 33.589 | 33.6108 | 33.6326 | 33.6545 | 33.6764 | 33.6983 | 33.7202 | 33.7421 | 33.764 | 33.786 | 33.8079 | 33.8299 | 33.5671 | 33.8299 |
| C30 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20.026 | 20.052 | 20.0781 | 20.1042 | 20.1303 | 20.1565 | 20.1827 | 20.2089 | 20.2352 | 20.2615 | 19.4764 | 19.5017 | 19.527 | 19.5524 | 19.5778 | 19.6033 | 20.1042 | 19.6033 |
| C31 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 0 | 0 | 28 | 28 | 28 | 28 | 28 | 29 | 29.0754 | 29.151 | 29.2268 | 29.3028 | 29.379 | 29.4554 | 29.5319 | 29.6087 | 29.6857 | 29.7629 | 29.8403 | 29.9179 | 29.9956 | 30.0736 | 30.1518 | 30.2302 | 29.3028 | 30.2302 |
| C32 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 0 | 0 | 0 | 0 | 20 | 20 | 20 | 20 | 20.052 | 20.1041 | 20.1564 | 20.2088 | 20.2614 | 20.314 | 20.3669 | 20.4198 | 20.4729 | 20.5261 | 20.5795 | 20.633 | 20.6866 | 20.7404 | 20.7944 | 20.8484 | 20.2088 | 20.8484 |
| C33 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | A: RMM | 0 | 0 | 0 | 0 | 0 | 0 | 33 | 33 | 33.0643 | 33.1288 | 33.1934 | 33.2582 | 33.323 | 33.388 | 33.4531 | 33.5183 | 33.5837 | 33.6492 | 33.7148 | 33.7805 | 33.8464 | 33.9124 | 33.9785 | 34.0448 | 33.2582 | 34.0448 |
| P01 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 98 | 98.1911 | 98.3826 | 98.5744 | 98.7666 | 98.9592 | 99.1522 | 99.3456 | 99.5393 | 99.7334 | 99.9279 | 100.1227 | 100.318 | 100.5136 | 98.1911 | 100.5136 |
| P02 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26 | 26.0507 | 26.1015 | 26.1524 | 26.2034 | 26.2545 | 26.3057 | 26.357 | 26.4084 | 26.4599 | 26.5115 | 26.5632 | 0 | 26.5632 |
| P03 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 33 | 33.0429 | 33.0859 | 33.1289 | 33.1719 | 33.2151 | 33.2582 | 33.3015 | 33.3448 | 33.3881 | 33.4315 | 0 | 33.4315 |
| P04 | DEVICES BY CONTRACT (servers, network devices and managed endpoints billed per device; growth at half the user rate) | win probability x counts | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19.25 | 19.275 | 19.3001 | 19.3252 | 19.3503 | 19.3755 | 19.4006 | 19.4259 | 19.4511 | 0 | 19.4511 |
| C01 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.026 | 1.0831 |
| C02 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C03 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0926 | 1.0926 | 1.0926 | 1.0557 | 1.0926 |
| C04 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C05 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.026 | 1.0831 |
| C06 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C07 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.026 | 1.0831 |
| C08 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C09 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C10 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.0926 | 1.0926 | 1.0926 | 1.035 | 1.0926 |
| C11 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C12 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0926 | 1.0926 | 1.0557 | 1.0926 |
| C13 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C14 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C15 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.026 | 1.0831 |
| C16 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0926 | 1.0926 | 1.0926 | 1.0557 | 1.0926 |
| C17 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.026 | 1.0831 |
| C18 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C19 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C20 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.026 | 1.0831 |
| C21 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C22 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.0926 | 1.0926 | 1.035 | 1.0926 |
| C23 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.0712 | 1.0712 | 1.0712 | 1.0712 | 1.035 | 1.0712 |
| C24 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| C25 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.026 | 1.0831 |
| C26 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C27 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.0619 | 1.026 | 1.0619 |
| C28 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.0712 | 1.0712 | 1.0712 | 1.035 | 1.0712 |
| C29 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0557 | 1.0926 | 1.0557 | 1.0926 |
| C30 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 1 | 1 | 1 | 1 | 1 | 1 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.026 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.0831 | 1.026 | 1.0831 |
| C31 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1 | 1.035 |
| C32 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1 | 1.035 |
| C33 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1.035 | 1 | 1.035 |
| P01 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1.035 | 1.035 | 1 | 1.035 |
| P02 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| P03 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| P04 | PRICE INDEX BY CONTRACT (1.000 = price at 31-Dec-25 or at signature; A: fees / (users x price + devices x price)) | anniversary review, renewal change | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| C01 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 22,327 | 22,365.5 | 22,907.5 | 23,012.67 | 23,012.67 | 23,052.17 | 23,052.17 | 23,091.67 | 23,143.5135 | 23,195.4811 | 23,247.5732 | 23,299.79 | 23,352.1319 | 23,404.5991 | 23,525.5698 | 23,578.4425 | 23,631.4418 | 23,684.5681 | 23,737.8218 | 23,791.2031 | 23,844.7123 | 23,898.3498 | 23,952.1159 | 24,006.0109 | 275,707.7077 | 284,406.9669 |
| C02 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 15,500 | 15,588 | 15,588 | 16,038.43 | 16,128.72 | 16,173.86 | 16,219.01 | 16,309.3 | 16,383.2779 | 16,457.6123 | 16,532.3051 | 16,607.3579 | 16,682.7726 | 16,758.551 | 16,834.695 | 17,503.0985 | 17,582.6698 | 17,662.6251 | 17,742.9664 | 17,823.6955 | 17,904.8144 | 17,986.325 | 18,068.2294 | 18,150.5295 | 193,525.8732 | 210,700.9723 |
| C03 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,090 | 8,130 | 8,170 | 8,170 | 8,210 | 8,210 | 8,210 | 8,210 | 8,219.3145 | 8,252.6267 | 8,261.9909 | 8,271.3664 | 8,280.7531 | 8,290.1512 | 8,299.5606 | 8,308.9814 | 8,318.4135 | 8,327.857 | 8,337.3119 | 8,346.7781 | 8,356.2558 | 8,658.546 | 8,668.3791 | 8,678.224 | 98,405.2985 | 100,871.2118 |
| C04 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,524 | 6,524 | 6,693.62 | 6,746.98 | 6,746.98 | 6,746.98 | 6,693.62 | 6,746.98 | 6,762.4094 | 6,777.8762 | 6,793.3804 | 6,808.9222 | 6,824.5017 | 6,840.1189 | 7,095.726 | 7,111.9682 | 7,128.2498 | 7,144.5708 | 7,160.9315 | 7,177.3317 | 7,193.7717 | 7,210.2516 | 7,226.7714 | 7,243.3313 | 80,565.7482 | 85,357.5247 |
| C05 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 13,099 | 13,128 | 13,128 | 13,128 | 13,176 | 13,176 | 13,205 | 13,627.33 | 13,657.1911 | 13,687.1226 | 13,717.1247 | 13,747.1975 | 13,777.3413 | 13,807.5561 | 13,837.8422 | 13,868.1998 | 13,898.629 | 13,929.1299 | 13,959.7029 | 14,178.826 | 14,209.9572 | 14,241.162 | 14,272.4404 | 14,303.7927 | 160,475.9659 | 168,284.5794 |
| C06 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,552.39 | 7,552.39 | 7,594.45 | 7,594.45 | 7,552.39 | 7,594.45 | 7,594.45 | 7,594.45 | 7,602.7222 | 7,611.0042 | 7,619.2958 | 7,627.5972 | 7,903.1652 | 7,911.7773 | 7,920.3996 | 7,929.032 | 7,937.6745 | 7,946.3272 | 7,954.99 | 7,963.663 | 7,972.3463 | 7,981.0397 | 7,989.7433 | 7,998.4572 | 91,090.0394 | 95,408.6152 |
| C07 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,730 | 5,878.98 | 5,925.15 | 5,925.15 | 5,988.76 | 5,988.76 | 6,034.93 | 6,034.93 | 6,054.6209 | 6,074.3811 | 6,094.2108 | 6,114.1103 | 6,134.0799 | 6,237.0282 | 6,257.4096 | 6,277.8628 | 6,298.3882 | 6,318.9858 | 6,339.656 | 6,360.3991 | 6,381.2153 | 6,402.105 | 6,423.0683 | 6,444.1055 | 71,843.9831 | 75,874.3038 |
| C08 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 11,357.82 | 11,397.83 | 11,484.02 | 11,524.03 | 11,564.05 | 11,604.06 | 11,604.06 | 11,604.06 | 11,641.123 | 11,678.3145 | 11,715.6351 | 11,753.0852 | 12,203.3385 | 12,242.3689 | 12,281.5349 | 12,320.8368 | 12,360.2753 | 12,399.8507 | 12,439.5637 | 12,479.4147 | 12,519.4043 | 12,559.5328 | 12,599.8009 | 12,640.2091 | 138,928.0877 | 149,046.1307 |
| C09 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,395 | 8,435 | 8,435 | 8,475 | 8,515 | 8,515 | 8,736.39 | 8,777.43 | 8,796.47 | 8,815.5546 | 8,834.6839 | 8,853.8579 | 8,873.077 | 8,892.341 | 8,911.6502 | 8,931.0046 | 8,950.4044 | 8,969.8496 | 9,303.9674 | 9,324.1877 | 9,344.4554 | 9,364.7707 | 9,385.1336 | 9,405.5442 | 103,584.3864 | 109,656.3857 |
| C10 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 3,840 | 3,840 | 3,840 | 3,840 | 3,840 | 3,890 | 3,890 | 3,890 | 3,899.022 | 4,044.8483 | 4,054.2318 | 4,063.6382 | 4,073.0675 | 4,082.5199 | 4,091.9954 | 4,101.494 | 4,111.0159 | 4,120.561 | 4,130.1295 | 4,139.7213 | 4,149.3366 | 4,258.9115 | 4,268.806 | 4,278.7247 | 46,931.7403 | 49,806.2834 |
| C11 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,930 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 8,212.1 | 8,229.29 | 8,246.5193 | 8,263.788 | 8,281.0961 | 8,298.4438 | 8,315.8312 | 8,333.2583 | 8,350.7253 | 8,368.2323 | 8,385.7793 | 8,403.3665 | 8,715.7287 | 8,734.0148 | 8,752.3427 | 8,770.7127 | 8,789.1247 | 96,964.7934 | 102,217.5603 |
| C12 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,706 | 6,706 | 6,747 | 6,706 | 6,706 | 6,747 | 6,747 | 6,747 | 6,754.3437 | 6,761.696 | 6,860.2497 | 6,867.7186 | 6,875.1962 | 6,882.6826 | 6,890.1778 | 6,897.6818 | 6,905.1947 | 6,912.7163 | 6,920.2468 | 6,927.7861 | 6,935.3343 | 6,942.8913 | 7,193.7232 | 7,201.5631 | 81,056.008 | 83,485.1942 |
| C13 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 4,280 | 4,280 | 4,391.28 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 4,454.8334 | 4,470.2227 | 4,485.6681 | 4,501.1699 | 4,516.7283 | 4,532.3434 | 4,707.1961 | 4,723.476 | 4,739.8154 | 4,756.2144 | 4,772.6733 | 4,789.1923 | 4,805.7716 | 4,822.4115 | 4,839.1123 | 4,855.874 | 53,060.674 | 56,860.8087 |
| C14 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,134 | 5,173 | 5,173 | 5,173 | 5,347.51 | 5,347.51 | 5,347.51 | 5,347.51 | 5,359.2474 | 5,371.0126 | 5,382.8055 | 5,394.6262 | 5,406.4749 | 5,418.3515 | 5,430.2562 | 5,442.189 | 5,645.0452 | 5,657.454 | 5,669.8922 | 5,682.3597 | 5,694.8567 | 5,707.3833 | 5,719.9394 | 5,732.5253 | 63,550.7317 | 67,206.7274 |
| C15 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,075 | 5,124 | 5,124 | 5,173 | 5,307.5 | 5,307.5 | 5,307.5 | 5,357.77 | 5,375.8643 | 5,394.0238 | 5,412.2485 | 5,430.5389 | 5,448.8951 | 5,467.3174 | 5,485.806 | 5,504.3612 | 5,655.695 | 5,674.8332 | 5,694.0404 | 5,713.3167 | 5,732.6625 | 5,752.0781 | 5,771.5636 | 5,791.1193 | 63,388.9455 | 67,691.6888 |
| C16 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,724 | 8,724 | 8,724 | 8,760 | 8,724 | 8,817 | 8,760 | 8,796 | 8,805.5082 | 8,840.7233 | 8,850.2815 | 8,859.8509 | 8,869.4315 | 8,879.0232 | 8,888.6262 | 8,898.2404 | 8,907.8658 | 8,917.5025 | 8,927.1504 | 8,936.8096 | 8,946.4802 | 9,269.6276 | 9,279.66 | 9,289.7042 | 105,385.3639 | 108,010.1216 |
| C17 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,192 | 8,192 | 8,238 | 8,352 | 8,352 | 8,398 | 8,398 | 8,616.35 | 8,653.355 | 8,690.5321 | 8,727.8821 | 8,765.4061 | 8,803.1047 | 8,840.9788 | 8,879.0294 | 8,917.2572 | 8,955.6631 | 8,994.2481 | 9,033.0129 | 9,289.9486 | 9,330.0161 | 9,370.2704 | 9,410.7126 | 9,451.3436 | 101,575.5252 | 109,275.5856 |
| C18 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 3,290 | 3,290 | 3,290 | 3,290 | 3,290 | 3,424.79 | 3,424.79 | 3,424.79 | 3,436.8462 | 3,448.9469 | 3,461.0923 | 3,473.2825 | 3,485.5176 | 3,497.798 | 3,510.1236 | 3,522.4948 | 3,534.9117 | 3,671.5325 | 3,684.479 | 3,697.4733 | 3,710.5157 | 3,723.6062 | 3,736.7451 | 3,749.9325 | 40,544.5379 | 43,525.13 |
| C19 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,790 | 7,992.54 | 7,992.54 | 7,992.54 | 8,031.53 | 8,031.53 | 8,070.52 | 8,070.52 | 8,088.4623 | 8,106.4473 | 8,124.4751 | 8,142.5457 | 8,160.6595 | 8,465.0749 | 8,483.9119 | 8,502.7938 | 8,521.7207 | 8,540.6927 | 8,559.7098 | 8,578.7722 | 8,597.8801 | 8,617.0335 | 8,636.2325 | 8,655.4772 | 96,433.6504 | 102,319.9588 |
| C20 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 7,382.07 | 7,422.08 | 7,422.08 | 7,462.1 | 7,462.1 | 7,462.1 | 7,502.11 | 7,502.11 | 7,518.5211 | 7,534.9708 | 7,551.4592 | 7,567.9865 | 7,686.7319 | 7,703.5608 | 7,720.4294 | 7,737.3378 | 7,754.286 | 7,771.2742 | 7,788.3024 | 7,805.3707 | 7,822.4793 | 7,839.6282 | 7,856.8176 | 7,874.0475 | 89,789.6876 | 93,360.2658 |
| C21 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,278.42 | 4,428.1647 | 4,428.1647 | 4,428.1647 | 4,428.1647 | 4,428.1647 | 4,428.1647 | 50,690.52 | 52,239.5082 |
| C22 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,715 | 5,752 | 5,752 | 5,752 | 5,796 | 5,796 | 5,833 | 5,833 | 5,851.3729 | 5,869.8089 | 6,094.3991 | 6,113.6117 | 6,132.8904 | 6,152.2354 | 6,171.647 | 6,191.1252 | 6,210.6705 | 6,230.2831 | 6,249.9632 | 6,269.711 | 6,289.5268 | 6,309.4108 | 6,481.4516 | 6,501.954 | 70,158.1926 | 75,190.8689 |
| C23 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 2,728 | 2,728 | 2,728 | 2,780 | 2,780 | 2,780 | 2,780 | 2,780 | 2,887.2136 | 2,897.1634 | 2,907.1494 | 2,917.1718 | 2,927.2307 | 2,937.3263 | 2,947.4587 | 2,957.628 | 2,967.8343 | 2,978.0779 | 2,988.3589 | 2,998.6773 | 3,114.3496 | 3,125.1072 | 3,135.9041 | 3,146.7404 | 33,692.6982 | 36,224.6935 |
| C24 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,289 | 8,289 | 8,250 | 8,250 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 33,078 | 0 |
| C25 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 8,900 | 8,943 | 9,050 | 9,285.3 | 9,241.18 | 9,241.18 | 9,350.96 | 9,395.08 | 9,415.4951 | 9,435.9581 | 9,456.4691 | 9,477.0282 | 9,497.6355 | 9,518.2911 | 9,538.9952 | 9,688.5368 | 9,709.6184 | 9,730.7495 | 9,751.9301 | 9,773.1605 | 9,794.4407 | 9,815.7709 | 9,837.1511 | 9,858.5816 | 111,191.6506 | 116,514.8617 |
| C26 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,204 | 6,204 | 6,204 | 6,248 | 6,248 | 6,248 | 6,248 | 6,455.59 | 6,469.3815 | 6,483.2049 | 6,497.0604 | 6,510.9481 | 6,524.8679 | 6,538.82 | 6,552.8045 | 6,566.8214 | 6,580.8708 | 6,594.9528 | 6,609.0675 | 6,855.0275 | 6,869.7041 | 6,884.4147 | 6,899.1595 | 6,913.9386 | 76,020.1849 | 80,390.4491 |
| C27 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 4,442 | 4,557.49 | 4,605.71 | 4,605.71 | 4,653.94 | 4,653.94 | 4,653.94 | 4,702.16 | 4,718.1936 | 4,734.2853 | 4,750.4352 | 4,766.6436 | 4,782.9106 | 4,967.2099 | 4,984.1685 | 5,001.1885 | 5,018.2702 | 5,035.4138 | 5,052.6195 | 5,069.8876 | 5,087.2182 | 5,104.6117 | 5,122.0683 | 5,139.5881 | 55,844.4476 | 60,365.155 |
| C28 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 5,050 | 5,050 | 5,091 | 5,091 | 5,091 | 5,091 | 5,091 | 5,050 | 5,055.4145 | 5,237.9645 | 5,243.5816 | 5,249.2051 | 5,254.8352 | 5,260.4719 | 5,266.1151 | 5,271.7648 | 5,277.4211 | 5,283.084 | 5,288.7535 | 5,294.4296 | 5,300.1123 | 5,491.5046 | 5,497.3998 | 5,503.3019 | 61,391.1657 | 63,989.1939 |
| C29 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,108 | 6,150 | 6,156.591 | 6,163.1897 | 6,169.796 | 6,064.0055 | 6,070.5067 | 6,077.0154 | 6,083.5317 | 6,090.0555 | 6,096.587 | 6,103.126 | 6,109.6726 | 6,116.2269 | 6,122.7887 | 6,129.3582 | 6,135.9353 | 6,357.5083 | 73,711.5821 | 73,492.3122 |
| C30 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 3,715 | 3,715 | 3,760 | 3,760 | 3,760 | 3,760 | 3,857.76 | 3,857.76 | 3,866.1363 | 3,874.5322 | 3,882.9477 | 3,891.383 | 3,899.8381 | 3,908.313 | 3,916.8077 | 3,925.3224 | 3,933.8571 | 3,942.4117 | 4,004.2141 | 4,012.9248 | 4,021.6559 | 4,030.4074 | 4,039.1795 | 4,047.9722 | 45,700.5192 | 47,682.9039 |
| C31 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 5,256 | 5,256 | 5,300 | 5,300 | 5,300 | 5,362 | 5,385.2076 | 5,408.5237 | 5,431.9489 | 5,455.4837 | 5,479.1286 | 5,502.8842 | 5,720.1872 | 5,745.0051 | 5,769.9391 | 5,794.99 | 5,820.1582 | 5,845.4444 | 5,870.8492 | 5,896.3731 | 5,922.0167 | 5,947.7806 | 53,455.1639 | 69,314.7563 |
| C32 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 4,236 | 4,236 | 4,282 | 4,282 | 4,301.1464 | 4,320.3842 | 4,339.714 | 4,359.1361 | 4,378.651 | 4,398.2593 | 4,417.9612 | 4,437.7574 | 4,613.6659 | 4,634.3514 | 4,655.1359 | 4,676.0199 | 4,697.0038 | 4,718.0881 | 4,739.2734 | 4,760.5602 | 34,356.3808 | 55,126.7275 |
| C33 | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 6,408 | 6,449 | 6,470.2901 | 6,491.6557 | 6,513.0971 | 6,534.6145 | 6,556.2083 | 6,577.8787 | 6,599.6261 | 6,621.4506 | 6,643.3526 | 6,665.3324 | 6,921.4489 | 6,944.3599 | 6,967.3522 | 6,990.4263 | 7,013.5823 | 7,036.8206 | 38,866.6574 | 81,537.839 |
| P01 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18,172 | 18,231.0226 | 18,290.2523 | 18,349.6898 | 18,409.336 | 18,469.1915 | 18,529.2572 | 18,589.5338 | 18,650.0221 | 18,710.7229 | 18,771.6369 | 18,832.765 | 19,555.4017 | 19,619.1149 | 36,403.0226 | 224,776.9239 |
| P02 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4,836 | 4,851.8184 | 4,867.6926 | 4,883.6227 | 4,899.609 | 4,915.6517 | 4,931.7509 | 4,947.907 | 4,964.1201 | 4,980.3903 | 4,996.7181 | 5,013.1034 | 0 | 59,088.3841 |
| P03 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,175 | 5,186.0955 | 5,197.2168 | 5,208.3639 | 5,219.5369 | 5,230.7359 | 5,241.961 | 5,253.2121 | 5,264.4894 | 5,275.7929 | 5,287.1227 | 0 | 57,539.5272 |
| P04 (pipeline) | MANAGED SERVICE FEES BY CONTRACT (EUR a month, invoiced monthly in advance) | A: billing; F: counts x prices x index | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,558.5 | 3,566.2006 | 3,573.9191 | 3,581.6557 | 3,589.4104 | 3,597.1832 | 3,604.9743 | 3,612.7835 | 3,620.611 | 0 | 32,305.2378 |
| MANAGED USERS | TOTALS | 3,781 | 3,794 | 3,882 | 3,893 | 3,815 | 3,824 | 3,938 | 3,951 | 3,962.5947 | 3,958.4386 | 4,301.6361 | 4,307.9513 | 4,393.8013 | 4,487.5717 | 4,479.5572 | 4,542.334 | 4,553.7033 | 4,567.5351 | 4,579.1106 | 4,576.2771 | 4,590.196 | 4,602.2662 | 4,613.1935 | 4,627.2431 | 4,307.9513 | 4,627.2431 | |
| MANAGED DEVICES | TOTALS | 1,174 | 1,174 | 1,204 | 1,206 | 1,189 | 1,190 | 1,223 | 1,225 | 1,226.8018 | 1,224.1009 | 1,322.4632 | 1,321.9352 | 1,348.3251 | 1,382.1231 | 1,379.3758 | 1,398.8202 | 1,400.3299 | 1,402.4527 | 1,403.7677 | 1,401.0315 | 1,403.1564 | 1,404.9185 | 1,405.4751 | 1,407.6077 | 1,321.9352 | 1,407.6077 | |
| MANAGED SERVICE FEES (MRR) | TOTALS | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,690.7987 | 238,655.0069 | 257,727.4001 | 258,279.8182 | 264,564.7875 | 270,963.607 | 272,326.0452 | 277,311.0847 | 278,509.5297 | 279,356.4066 | 280,833.5664 | 282,496.0135 | 283,335.599 | 284,964.5237 | 286,761.69 | 287,722.5039 | 2,827,368.934 | 3,349,145.3572 | |
| Annualised fees (MRR x 12) | TOTALS | 2,667,375.36 | 2,679,225.72 | 2,758,216.2 | 2,773,414.32 | 2,733,453.96 | 2,739,831.96 | 2,824,735.68 | 2,843,937.72 | 2,852,289.5841 | 2,863,860.0833 | 3,092,728.8016 | 3,099,357.8186 | 3,174,777.45 | 3,251,563.2837 | 3,267,912.5425 | 3,327,733.0169 | 3,342,114.3559 | 3,352,276.8798 | 3,370,002.7972 | 3,389,952.1617 | 3,400,027.1878 | 3,419,574.2845 | 3,441,140.2802 | 3,452,670.0464 | 3,099,357.8186 | 3,452,670.0464 | |
| Fees: customers in Portugal | TOTALS | 187,820.28 | 188,649.32 | 194,990.64 | 195,977.85 | 192,643.71 | 193,175.21 | 200,084.98 | 201,384.22 | 202,009.5867 | 202,725.8722 | 221,727.1101 | 222,320.6048 | 228,534.1935 | 234,693.4857 | 235,983.6226 | 237,208.8953 | 238,326.7045 | 239,092.7497 | 240,435.6533 | 241,784.9463 | 242,542.4959 | 243,903.4819 | 245,618.0129 | 246,281.0021 | 2,403,509.3838 | 2,874,405.2436 | |
| Share of fees in Portugal | TOTALS | 84.5% | 84.49% | 84.83% | 84.8% | 84.57% | 84.61% | 85% | 84.97% | 84.99% | 84.95% | 86.03% | 86.08% | 86.38% | 86.61% | 86.65% | 85.54% | 85.57% | 85.59% | 85.61% | 85.59% | 85.6% | 85.59% | 85.65% | 85.6% | 84.98% | 85.83% | |
| Users: customers in Portugal | TOTALS | 3,251 | 3,263 | 3,347 | 3,357 | 3,279 | 3,288 | 3,402 | 3,412 | 3,422.3259 | 3,416.8977 | 3,758.8195 | 3,770.5405 | 3,855.1168 | 3,947.6102 | 3,938.3151 | 3,950.6481 | 3,960.6023 | 3,973.0151 | 3,985.4729 | 3,981.2189 | 3,993.7135 | 4,004.3556 | 4,013.851 | 4,026.4648 | 3,770.5405 | 4,026.4648 | |
| Share of users in Portugal | TOTALS | 85.98% | 86% | 86.22% | 86.23% | 85.95% | 85.98% | 86.39% | 86.36% | 86.37% | 86.32% | 87.38% | 87.53% | 87.74% | 87.97% | 87.92% | 86.97% | 86.98% | 86.98% | 87.04% | 87% | 87.01% | 87.01% | 87.01% | 87.02% | 86.39% | 87.22% | |
| Fees per user a month (devices included) | TOTALS | 58.789 | 58.8479 | 59.2095 | 59.3675 | 59.7085 | 59.7069 | 59.7752 | 59.9835 | 59.9836 | 60.2902 | 59.9138 | 59.9542 | 60.2132 | 60.3809 | 60.7931 | 61.0504 | 61.1611 | 61.1613 | 61.3293 | 61.7305 | 61.7263 | 61.9183 | 62.1612 | 62.1801 | 59.6275 | 61.3171 | |
| Contracts billing (pipeline counted from the start month) | TOTALS | 30 | 30 | 31 | 31 | 31 | 31 | 32 | 32 | 32 | 32 | 33 | 33 | 34 | 35 | 35 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 33 | 36 | |
| Users of contracts starting in the month (expected for pipeline) | TOTALS | onboarding hours | 0 | 0 | 80 | 0 | 66 | 0 | 108 | 0 | 0 | 0 | 336 | 0 | 78 | 84 | 0 | 55 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 590 | 217 |
| First-year fees of contracts starting in the month (commission base) | TOTALS | fees x 12 | 0 | 0 | 63,072 | 0 | 50,832 | 0 | 76,896 | 0 | 0 | 0 | 218,064 | 0 | 58,032 | 62,100 | 0 | 42,702 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 408,864 | 162,834 |
| Fees reaching a 36-month renewal in the month (prior month fees) | TOTALS | 7,320 | 7,790 | 6,524 | 0 | 13,423 | 0 | 8,515 | 6,248 | 0 | 17,024.8227 | 6,761.696 | 6,169.796 | 7,567.9865 | 6,134.0799 | 23,404.5991 | 9,538.9952 | 5,504.3612 | 0 | 3,942.4117 | 22,992.7158 | 0 | 4,149.3366 | 6,309.4108 | 0 | 79,776.3147 | 89,543.8971 | |
| Fees lost at renewal (A: contracts not renewed; F: expected, fees x (1 - probability)) | TOTALS | 0 | 0 | 0 | 0 | 8,250 | 0 | 0 | 0 | 0 | 851.2411 | 270.4678 | 431.8857 | 302.7195 | 245.3632 | 1,170.23 | 381.5598 | 165.1308 | 0 | 157.6965 | 829.3785 | 0 | 124.4801 | 189.2823 | 0 | 9,803.5947 | 3,565.8407 | |
| Net revenue retention: fees now of contracts billing a year earlier / their fees then | TOTALS | History for 2025 | 104.72% | 104.78% | 104.77% | 104.81% | 100.76% | 100.78% | 100.77% | 100.92% | 101.11% | 101.08% | 101.06% | 101.05% | 101.23% | 101.27% | 101.3% | 101.31% | 105.21% | 105.29% | 105.54% | 105.49% | 105.49% | 105.71% | 105.88% | 106.01% | 101.05% | 106.01% |
| Gross revenue retention: as above, each contract capped at its fees a year earlier | TOTALS | History for 2025 | 100% | 100% | 100% | 100% | 96.08% | 96.15% | 96.16% | 96.18% | 96.25% | 96.25% | 96.27% | 96.23% | 96.24% | 96.25% | 96.38% | 96.4% | 99.98% | 99.98% | 100% | 99.99% | 99.99% | 99.99% | 99.99% | 100% | 96.23% | 100% |
| Onboarding fees billed | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | register: contracts starting in the month | 0 | 0 | 3,600 | 0 | 2,970 | 0 | 4,860 | 0 | 0 | 0 | 15,120 | 0 | 3,510 | 3,780 | 0 | 2,475 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,550 | 9,765 |
| of which customers in Portugal | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | 0 | 0 | 3,600 | 0 | 2,970 | 0 | 4,860 | 0 | 0 | 0 | 15,120 | 0 | 3,510 | 3,780 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,550 | 7,290 | |
| Onboarding fees recognised | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | fee / 36 for each month of the term | 293.75 | 293.75 | 393.75 | 393.75 | 476.25 | 476.25 | 611.25 | 611.25 | 611.25 | 611.25 | 1,031.25 | 1,031.25 | 1,128.75 | 1,233.75 | 1,233.75 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 6,835 | 15,318.75 |
| CONTRACT LIABILITY: ONBOARDING FEES DEFERRED | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | opening + billed - recognised | 7,762.5 | 7,468.75 | 10,675 | 10,281.25 | 12,775 | 12,298.75 | 16,547.5 | 15,936.25 | 15,325 | 14,713.75 | 28,802.5 | 27,771.25 | 30,152.5 | 32,698.75 | 31,465 | 32,637.5 | 31,335 | 30,032.5 | 28,730 | 27,427.5 | 26,125 | 24,822.5 | 23,520 | 22,217.5 | 27,771.25 | 22,217.5 |
| Per contract schedule: fees x months of the term still to run / 36 | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | independent calculation | 7,762.5 | 7,468.75 | 10,675 | 10,281.25 | 12,775 | 12,298.75 | 16,547.5 | 15,936.25 | 15,325 | 14,713.75 | 28,802.5 | 27,771.25 | 30,152.5 | 32,698.75 | 31,465 | 32,637.5 | 31,335 | 30,032.5 | 28,730 | 27,427.5 | 26,125 | 24,822.5 | 23,520 | 22,217.5 | 27,771.25 | 22,217.5 |
| Check: roll-forward less schedule (must be zero) | ONBOARDING FEES (billed at contract start; not a distinct service, so recognised over the 36-month term: IFRS 15.B48 to B51) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed users | VOLUME | Contracts | 3,781 | 3,794 | 3,882 | 3,893 | 3,815 | 3,824 | 3,938 | 3,951 | 3,962.5947 | 3,958.4386 | 4,301.6361 | 4,307.9513 | 4,393.8013 | 4,487.5717 | 4,479.5572 | 4,542.334 | 4,553.7033 | 4,567.5351 | 4,579.1106 | 4,576.2771 | 4,590.196 | 4,602.2662 | 4,613.1935 | 4,627.2431 | 4,307.9513 | 4,627.2431 |
| Managed devices | VOLUME | Contracts | 1,174 | 1,174 | 1,204 | 1,206 | 1,189 | 1,190 | 1,223 | 1,225 | 1,226.8018 | 1,224.1009 | 1,322.4632 | 1,321.9352 | 1,348.3251 | 1,382.1231 | 1,379.3758 | 1,398.8202 | 1,400.3299 | 1,402.4527 | 1,403.7677 | 1,401.0315 | 1,403.1564 | 1,404.9185 | 1,405.4751 | 1,407.6077 | 1,321.9352 | 1,407.6077 |
| Tickets logged | VOLUME | A: PSA; F: (users x rate + devices x rate) x seasonality | 1,903 | 1,831 | 1,874 | 1,844 | 1,788 | 1,748 | 1,792 | 1,601 | 2,022.6738 | 1,964.1734 | 2,092.4511 | 1,912.0244 | 2,199.0885 | 2,162.1359 | 2,115.9079 | 2,081.2123 | 2,107.5992 | 2,070.5104 | 2,053.7736 | 1,900.9863 | 2,339.7324 | 2,280.3774 | 2,241.7662 | 2,051.7713 | 22,372.3227 | 25,604.8615 |
| Tickets per 100 users and devices | VOLUME | 38.4057 | 36.8559 | 36.8462 | 36.164 | 35.7314 | 34.8624 | 34.722 | 30.9312 | 38.9771 | 37.8998 | 37.2051 | 33.962 | 38.2975 | 36.8356 | 36.1142 | 35.0304 | 35.3978 | 34.682 | 34.3275 | 31.8034 | 39.0388 | 37.9608 | 37.2469 | 33.9987 | 36.0469 | 35.8945 | |
| Ticket hours: P1 | HOURS | tickets x share x hours per ticket | 199.815 | 192.255 | 196.77 | 193.62 | 187.74 | 183.54 | 188.16 | 168.105 | 212.3807 | 206.2382 | 219.7074 | 200.7626 | 230.9043 | 227.0243 | 222.1703 | 218.5273 | 221.2979 | 217.4036 | 215.6462 | 199.6036 | 245.6719 | 239.4396 | 235.3855 | 215.436 | 2,349.0939 | 2,688.5105 |
| Ticket hours: P2 | HOURS | tickets x share x hours per ticket | 411.048 | 395.496 | 404.784 | 398.304 | 386.208 | 377.568 | 387.072 | 345.816 | 436.8975 | 424.2615 | 451.9694 | 412.9973 | 475.0031 | 467.0213 | 457.0361 | 449.5419 | 455.2414 | 447.2302 | 443.6151 | 410.613 | 505.3822 | 492.5615 | 484.2215 | 443.1826 | 4,832.4217 | 5,530.6501 |
| Ticket hours: P3 | HOURS | tickets x share x hours per ticket | 941.985 | 906.345 | 927.63 | 912.78 | 885.06 | 865.26 | 887.04 | 792.495 | 1,001.2235 | 972.2659 | 1,035.7633 | 946.4521 | 1,088.5488 | 1,070.2573 | 1,047.3744 | 1,030.2001 | 1,043.2616 | 1,024.9027 | 1,016.6179 | 940.9882 | 1,158.1676 | 1,128.7868 | 1,109.6743 | 1,015.6268 | 11,074.2997 | 12,674.4064 |
| Ticket hours: P4 | HOURS | tickets x share x hours per ticket | 256.905 | 247.185 | 252.99 | 248.94 | 241.38 | 235.98 | 241.92 | 216.135 | 273.061 | 265.1634 | 282.4809 | 258.1233 | 296.877 | 291.8883 | 285.6476 | 280.9637 | 284.5259 | 279.5189 | 277.2594 | 256.6332 | 315.8639 | 307.8509 | 302.6384 | 276.9891 | 3,020.2636 | 3,456.6563 |
| Ticket hours | HOURS | 1,809.753 | 1,741.281 | 1,782.174 | 1,753.644 | 1,700.388 | 1,662.348 | 1,704.192 | 1,522.551 | 1,923.5628 | 1,867.929 | 1,989.921 | 1,818.3352 | 2,091.3332 | 2,056.1912 | 2,012.2284 | 1,979.2329 | 2,004.3269 | 1,969.0554 | 1,953.1387 | 1,807.838 | 2,225.0856 | 2,168.6389 | 2,131.9197 | 1,951.2345 | 21,276.0789 | 24,350.2233 | |
| Proactive hours (patching, monitoring, backups, endpoint management) | HOURS | counts x hours x (1 - deferred share x holiday share) | 2,025.1502 | 2,016.7206 | 2,066.5991 | 2,026.3174 | 2,026.4451 | 1,996.2929 | 1,996.6609 | 1,910.5902 | 2,073.0451 | 2,103.2527 | 2,289.1539 | 2,228.4815 | 2,335.4164 | 2,378.1209 | 2,373.5614 | 2,355.1643 | 2,397.7789 | 2,363.7072 | 2,302.1772 | 2,194.8101 | 2,381.6016 | 2,424.8703 | 2,440.573 | 2,380.1658 | 24,758.7096 | 28,327.9471 |
| Onboarding hours (users of new contracts) | HOURS | new users x hours | 0 | 0 | 160 | 0 | 132 | 0 | 216 | 0 | 0 | 0 | 672 | 0 | 156 | 168 | 0 | 110 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,180 | 434 |
| DEMAND HOURS | HOURS | 3,834.9032 | 3,758.0016 | 4,008.7731 | 3,779.9614 | 3,858.8331 | 3,658.6409 | 3,916.8529 | 3,433.1412 | 3,996.6079 | 3,971.1816 | 4,951.0749 | 4,046.8167 | 4,582.7496 | 4,602.3121 | 4,385.7899 | 4,444.3972 | 4,402.1058 | 4,332.7626 | 4,255.3159 | 4,002.6481 | 4,606.6872 | 4,593.5091 | 4,572.4926 | 4,331.4003 | 47,214.7885 | 53,112.1704 | |
| Service desk FTE (analysts, engineers, field technicians, NOC) | CAPACITY, UTILISATION AND SLA | People | 39 | 39 | 38 | 37 | 36 | 36 | 37 | 37 | 36.5683 | 39.1417 | 41.1167 | 41.0637 | 43.0412 | 43.0188 | 43.996 | 44.9848 | 44.9619 | 45.9506 | 45.9394 | 45.928 | 45.9282 | 45.9283 | 45.9283 | 45.9283 | 41.0637 | 45.9283 |
| Capacity hours | CAPACITY, UTILISATION AND SLA | FTE x productive hours x (1 - holiday share) | 4,708.08 | 4,656.6 | 4,537.2 | 4,222.44 | 4,250.88 | 4,108.32 | 3,978.24 | 3,587.52 | 4,221.4484 | 4,673.5193 | 4,963.61 | 4,686.1839 | 5,195.9372 | 5,136.4419 | 5,253.1184 | 5,133.6686 | 5,309.1001 | 5,243.8849 | 4,939.3993 | 4,453.1741 | 5,301.9531 | 5,483.8444 | 5,544.4692 | 5,241.342 | 52,594.0416 | 62,236.3332 |
| UTILISATION | CAPACITY, UTILISATION AND SLA | demand / capacity | 81.45% | 80.7% | 88.35% | 89.52% | 90.78% | 89.05% | 98.46% | 95.7% | 94.67% | 84.97% | 99.75% | 86.36% | 88.2% | 89.6% | 83.49% | 86.57% | 82.92% | 82.63% | 86.15% | 89.88% | 86.89% | 83.76% | 82.47% | 82.64% | 89.77% | 85.34% |
| SLA attainment (share of tickets inside response and resolution times) | CAPACITY, UTILISATION AND SLA | A: PSA; F: maximum - slope x (utilisation - knee) | 97.34% | 98.03% | 93.18% | 91.81% | 91.22% | 92.65% | 86.39% | 88.4% | 88.96% | 95.27% | 85.66% | 94.37% | 93.17% | 92.26% | 96.23% | 94.23% | 96.6% | 96.79% | 94.5% | 92.08% | 94.02% | 96.05% | 96.89% | 96.78% | 91.94% | 94.97% |
| Share of fees in breach | CAPACITY, UTILISATION AND SLA | (target - attainment) / band, between 0 and 100% | 0% | 0% | 28.2% | 41.9% | 47.8% | 33.5% | 96.1% | 76% | 70.38% | 7.32% | 100% | 16.32% | 28.29% | 37.41% | 0% | 17.73% | 0% | 0% | 14.98% | 39.24% | 19.76% | 0% | 0% | 0% | 43.13% | 13.12% |
| SLA CREDITS FOR THE MONTH (revenue reduction) | CAPACITY, UTILISATION AND SLA | A: credit notes; F: fees x breach share x credit rate | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,364.3445 | 873.2186 | 12,886.37 | 2,107.0696 | 3,742.4834 | 5,068.0512 | 0 | 2,458.0625 | 0 | 0 | 2,103.1732 | 5,542.5361 | 2,799.7733 | 0 | 0 | 0 | 61,884.0127 | 21,714.0797 |
| Credited on the next invoice (credits of the prior month) | CAPACITY, UTILISATION AND SLA | 0 | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,364.3445 | 873.2186 | 12,886.37 | 2,107.0696 | 3,742.4834 | 5,068.0512 | 0 | 2,458.0625 | 0 | 0 | 2,103.1732 | 5,542.5361 | 2,799.7733 | 0 | 0 | 59,776.9431 | 23,821.1493 | |
| SLA CREDITS DUE TO CUSTOMERS (liability) | CAPACITY, UTILISATION AND SLA | opening + credits - credited | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,364.3445 | 873.2186 | 12,886.37 | 2,107.0696 | 3,742.4834 | 5,068.0512 | 0 | 2,458.0625 | 0 | 0 | 2,103.1732 | 5,542.5361 | 2,799.7733 | 0 | 0 | 0 | 2,107.0696 | 0 |
| Check: liability equals the credits of the month (must be zero) | CAPACITY, UTILISATION AND SLA | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| SLA credits, % of managed service fees | CAPACITY, UTILISATION AND SLA | 0% | 0% | 1.41% | 2.09% | 2.39% | 1.67% | 4.81% | 3.8% | 3.52% | 0.37% | 5% | 0.82% | 1.41% | 1.87% | 0% | 0.89% | 0% | 0% | 0.75% | 1.96% | 0.99% | 0% | 0% | 0% | 2.19% | 0.65% | |
| Tickets per service desk FTE | PRODUCTIVITY | 48.7949 | 46.9487 | 49.3158 | 49.8378 | 49.6667 | 48.5556 | 48.4324 | 43.2703 | 55.3122 | 50.1811 | 50.8905 | 46.5625 | 51.0926 | 50.2603 | 48.0932 | 46.2648 | 46.8752 | 45.0595 | 44.7062 | 41.3906 | 50.9432 | 49.6508 | 48.8101 | 44.6733 | 48.9807 | 47.3183 | |
| FTE needed to bring utilisation to the knee | PRODUCTIVITY | demand / (productive hours x (1 - holidays) x knee) | 39.7087 | 39.3426 | 41.9679 | 41.4034 | 40.8498 | 40.0745 | 45.5363 | 44.2598 | 43.2758 | 41.5743 | 51.2661 | 44.3263 | 47.4523 | 48.1817 | 45.9149 | 48.6812 | 46.6009 | 47.4584 | 49.4712 | 51.6018 | 49.8818 | 48.0895 | 47.3461 | 47.4435 | 42.7988 | 48.1769 |
| FTE short (+) or spare (-) against the knee | PRODUCTIVITY | 0.7087 | 0.3426 | 3.9679 | 4.4034 | 4.8498 | 4.0745 | 8.5363 | 7.2598 | 6.7075 | 2.4326 | 10.1494 | 3.2627 | 4.411 | 5.1629 | 1.9189 | 3.6964 | 1.639 | 1.5078 | 3.5319 | 5.6738 | 3.9536 | 2.1612 | 1.4177 | 1.5151 | 4.7246 | 3.0491 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| J01 ERP infrastructure and cloud migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 160 | 175 | 170 | 160 | 160 | 165 | 150 | 100 | 245 | 245 | 245 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,975 | 0 | |
| J02 Clinic network and Wi-Fi refresh (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 170 | 230 | 220 | 160 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 780 | 0 | |
| J03 Server virtualisation (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 110 | 150 | 150 | 140 | 90 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 640 | 0 | |
| J04 Security hardening and SOC onboarding (TM) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 95 | 118 | 112 | 110 | 116 | 104 | 72 | 153 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 880 | 0 | |
| J05 Construction site connectivity (TM) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 132 | 140 | 146 | 138 | 142 | 144 | 136 | 96 | 151.5 | 151.5 | 151.5 | 151.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,680 | 0 | |
| J06 Onboarding and migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 120 | 160 | 130 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 410 | 0 | |
| J07 Productivity suite tenant migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 0 | 95 | 130 | 85 | 160 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 470 | 0 | |
| J08 Store network upgrade (signed Aug-26) (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 220 | 220 | 220 | 220 | 220 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 880 | 220 | |
| J09 Backup and disaster recovery (TM) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 78 | 82 | 80 | 79 | 81 | 83 | 80 | 58 | 84.75 | 84.75 | 84.75 | 84.75 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 960 | 0 | |
| J10 Onboarding and migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 95 | 225 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 450 | 0 | |
| J11 ERP hosting move (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 120 | 160 | 170 | 160 | 150 | 120 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 880 | 0 | |
| J12 Onboarding and migration (FF) | OWN HOURS BY PROJECT (A: timesheets; F: remaining estimate spread to the planned completion) | 0 | 0 | 0 | 0 | 90 | 120 | 95 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 305 | 0 | |
| J01 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 123.3333 | 123.3333 | 123.3333 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,350 | 0 | |
| J02 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J03 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J04 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J05 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J06 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J07 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J08 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J09 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J10 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J11 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J12 | SUBCONTRACT HOURS BY PROJECT (A: subcontractor invoices) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J01 | OWN HOURS TO DATE | 335 | 510 | 680 | 840 | 1,000 | 1,165 | 1,315 | 1,415 | 1,660 | 1,905 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | 2,150 | |
| J02 | OWN HOURS TO DATE | 170 | 400 | 620 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | 780 | |
| J03 | OWN HOURS TO DATE | 0 | 0 | 110 | 260 | 410 | 550 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | 640 | |
| J04 | OWN HOURS TO DATE | 0 | 95 | 213 | 325 | 435 | 551 | 655 | 727 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | |
| J05 | OWN HOURS TO DATE | 132 | 272 | 418 | 556 | 698 | 842 | 978 | 1,074 | 1,225.5 | 1,377 | 1,528.5 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | 1,680 | |
| J06 | OWN HOURS TO DATE | 0 | 0 | 120 | 280 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | 410 | |
| J07 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 0 | 95 | 225 | 310 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | 470 | |
| J08 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 220 | 440 | 660 | 880 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 880 | 1,100 | |
| J09 | OWN HOURS TO DATE | 78 | 160 | 240 | 319 | 400 | 483 | 563 | 621 | 705.75 | 790.5 | 875.25 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | 960 | |
| J10 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 225 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | 450 | |
| J11 | OWN HOURS TO DATE | 120 | 280 | 450 | 610 | 760 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | 880 | |
| J12 | OWN HOURS TO DATE | 0 | 0 | 0 | 0 | 90 | 210 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | 305 | |
| J01 | SUBCONTRACT HOURS TO DATE | 20 | 60 | 140 | 290 | 470 | 670 | 860 | 980 | 1,103.3333 | 1,226.6667 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | 1,350 | |
| J02 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J03 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J04 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J05 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J06 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J07 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J08 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J09 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J10 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J11 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J12 | SUBCONTRACT HOURS 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 | 0 | 0 | 0 | |
| J01 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 17.32% | 27.8% | 40% | 55.12% | 71.71% | 52.43% | 62.14% | 68.43% | 78.95% | 89.48% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J02 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 21.79% | 51.28% | 79.49% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J03 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 17.19% | 40.62% | 64.06% | 85.94% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J04 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 10.8% | 24.2% | 36.93% | 49.43% | 62.61% | 74.43% | 82.61% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J05 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 7.86% | 16.19% | 24.88% | 33.1% | 41.55% | 50.12% | 58.21% | 63.93% | 72.95% | 81.96% | 90.98% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J06 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 30% | 70% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J07 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 0% | 20.21% | 47.87% | 65.96% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J08 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 20% | 40% | 60% | 80% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 80% | 100% | |
| J09 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 8.13% | 16.67% | 25% | 33.23% | 41.67% | 50.31% | 58.65% | 64.69% | 73.52% | 82.34% | 91.17% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J10 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 0% | 0% | 28.89% | 50% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J11 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 13.64% | 31.82% | 51.14% | 69.32% | 86.36% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J12 | PROGRESS: HOURS TO DATE / HOURS AT COMPLETION (A: revenue to date / fee for fixed-fee projects) | 0% | 0% | 0% | 0% | 30% | 70% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| J01 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 13,873.18 | 16,570.73 | 19,268.29 | 23,892.68 | 26,204.88 | -30,460.42 | 15,348.57 | 9,931.43 | 16,627.6219 | 16,627.619 | 16,627.619 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 144,512.2 | 0 | |
| J02 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 13,948.72 | 18,871.79 | 18,051.28 | 13,128.21 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64,000 | 0 | |
| J03 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 8,937.5 | 12,187.5 | 12,187.5 | 11,375 | 7,312.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52,000 | 0 | |
| J04 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 10,404 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59,840 | 0 | |
| J05 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 9,090 | 9,090 | 9,090 | 9,090 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | |
| J06 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32,000 | 0 | |
| J07 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 0 | 7,680.85 | 10,510.64 | 6,872.34 | 12,936.17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38,000 | 0 | |
| J08 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 17,600 | 17,600 | 17,600 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70,400 | 17,600 | |
| J09 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 5,424 | 5,424 | 5,424 | 5,424 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,440 | 0 | |
| J10 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 0 | 0 | 10,400 | 7,600 | 18,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36,000 | 0 | |
| J11 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 9,818.18 | 13,090.91 | 13,909.09 | 13,090.91 | 12,272.73 | 9,818.18 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72,000 | 0 | |
| J12 | REVENUE BY PROJECT (A: project ledger; F: fixed fee = fee x progress - revenue to date; T&M = hours x rate) | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24,000 | 0 | |
| J01 | REVENUE TO DATE | 27,360.98 | 43,931.71 | 63,200 | 87,092.68 | 113,297.56 | 82,837.14 | 98,185.71 | 108,117.14 | 124,744.7619 | 141,372.381 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | |
| J02 | REVENUE TO DATE | 13,948.72 | 32,820.51 | 50,871.79 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | |
| J03 | REVENUE TO DATE | 0 | 0 | 8,937.5 | 21,125 | 33,312.5 | 44,687.5 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | |
| J04 | REVENUE TO DATE | 0 | 6,460 | 14,484 | 22,100 | 29,580 | 37,468 | 44,540 | 49,436 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | |
| J05 | REVENUE TO DATE | 7,920 | 16,320 | 25,080 | 33,360 | 41,880 | 50,520 | 58,680 | 64,440 | 73,530 | 82,620 | 91,710 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | |
| J06 | REVENUE TO DATE | 0 | 0 | 9,600 | 22,400 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | |
| J07 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 0 | 7,680.85 | 18,191.49 | 25,063.83 | 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 | |
| J08 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 35,200 | 52,800 | 70,400 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 70,400 | 88,000 | |
| J09 | REVENUE TO DATE | 4,992 | 10,240 | 15,360 | 20,416 | 25,600 | 30,912 | 36,032 | 39,744 | 45,168 | 50,592 | 56,016 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | |
| J10 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 10,400 | 18,000 | 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 | |
| J11 | REVENUE TO DATE | 9,818.18 | 22,909.09 | 36,818.18 | 49,909.09 | 62,181.82 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | |
| J12 | REVENUE TO DATE | 0 | 0 | 0 | 0 | 7,200 | 16,800 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | |
| J01 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 63,200 | 0 | 0 | 0 | 0 | 0 | 0 | 47,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 110,600 | 0 | |
| J02 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 19,200 | 25,600 | 0 | 19,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64,000 | 0 | |
| J03 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 15,600 | 0 | 20,800 | 0 | 15,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52,000 | 0 | |
| J04 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 10,404 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59,840 | 0 | |
| J05 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 9,090 | 9,090 | 9,090 | 9,090 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | |
| J06 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32,000 | 0 | |
| J07 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 0 | 11,400 | 0 | 15,200 | 11,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38,000 | 0 | |
| J08 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,400 | 0 | 35,200 | 0 | 26,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,600 | 26,400 | |
| J09 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 5,424 | 5,424 | 5,424 | 5,424 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,440 | 0 | |
| J10 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 0 | 0 | 10,800 | 14,400 | 10,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36,000 | 0 | |
| J11 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 21,600 | 0 | 28,800 | 0 | 0 | 21,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72,000 | 0 | |
| J12 | BILLING BY PROJECT (fixed fee: 30% at start, 70% at half way, 100% at completion; T&M monthly) | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24,000 | 0 | |
| J01 | BILLED TO DATE | 47,400 | 47,400 | 47,400 | 110,600 | 110,600 | 110,600 | 110,600 | 110,600 | 110,600 | 110,600 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | 158,000 | |
| J02 | BILLED TO DATE | 19,200 | 44,800 | 44,800 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | 64,000 | |
| J03 | BILLED TO DATE | 0 | 0 | 15,600 | 15,600 | 36,400 | 36,400 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | 52,000 | |
| J04 | BILLED TO DATE | 0 | 6,460 | 14,484 | 22,100 | 29,580 | 37,468 | 44,540 | 49,436 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | 59,840 | |
| J05 | BILLED TO DATE | 7,920 | 16,320 | 25,080 | 33,360 | 41,880 | 50,520 | 58,680 | 64,440 | 73,530 | 82,620 | 91,710 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | 100,800 | |
| J06 | BILLED TO DATE | 0 | 0 | 9,600 | 22,400 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | 32,000 | |
| J07 | BILLED TO DATE | 0 | 0 | 0 | 0 | 0 | 11,400 | 11,400 | 26,600 | 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 | |
| J08 | BILLED TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,400 | 26,400 | 61,600 | 61,600 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 88,000 | 61,600 | 88,000 | |
| J09 | BILLED TO DATE | 4,992 | 10,240 | 15,360 | 20,416 | 25,600 | 30,912 | 36,032 | 39,744 | 45,168 | 50,592 | 56,016 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | 61,440 | |
| J10 | BILLED TO DATE | 0 | 0 | 0 | 0 | 0 | 0 | 10,800 | 25,200 | 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 | |
| J11 | BILLED TO DATE | 21,600 | 21,600 | 50,400 | 50,400 | 50,400 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | 72,000 | |
| J12 | BILLED TO DATE | 0 | 0 | 0 | 0 | 7,200 | 16,800 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | 24,000 | |
| J01 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 20,039.02 | 3,468.29 | -15,800 | 23,507.32 | -2,697.56 | 27,762.86 | 12,414.29 | 2,482.86 | -14,144.7619 | -30,772.381 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J02 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 5,251.28 | 11,979.49 | -6,071.79 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J03 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 6,662.5 | -5,525 | 3,087.5 | -8,287.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J04 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J05 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J06 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J07 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 3,719.15 | -6,791.49 | 1,536.17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J08 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,800 | -8,800 | 8,800 | -8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8,800 | 0 | |
| J09 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J10 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 400 | 7,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J11 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 11,781.82 | -1,309.09 | 13,581.82 | 490.91 | -11,781.82 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J12 | CONTRACT POSITION BY PROJECT (+ billed ahead of progress: contract liability; - progress ahead of billing: contract asset) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J01 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 1,671.4286 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J02 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J03 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J04 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J05 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J06 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J07 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J08 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J09 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J10 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J11 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| J12 | ONEROUS CONTRACT PROVISION BY PROJECT (remaining cost at standard less remaining revenue, if positive) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Own hours | SIGNED PROJECTS: TOTALS | 660 | 882 | 1,134 | 1,119 | 1,013 | 983 | 915 | 506 | 1,239.25 | 701.25 | 701.25 | 456.25 | 220 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10,310 | 220 | |
| Subcontract hours | SIGNED PROJECTS: TOTALS | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 123.3333 | 123.3333 | 123.3333 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,350 | 0 | |
| Revenue: signed projects | SIGNED PROJECTS: TOTALS | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 48,741.619 | 48,741.619 | 32,114 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 754,992.2 | 17,600 | |
| Billing: signed projects | SIGNED PROJECTS: TOTALS | 53,712 | 45,708 | 75,904 | 116,152 | 58,784 | 64,440 | 53,952 | 43,968 | 73,518 | 14,514 | 97,114 | 14,514 | 26,400 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 712,280 | 26,400 | |
| Contract liabilities: projects billed ahead of progress | SIGNED PROJECTS: TOTALS | 37,072.12 | 15,447.78 | 20,244.32 | 23,998.23 | 3,087.5 | 31,482.01 | 12,814.29 | 11,219.03 | 8,800 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Contract assets: progress ahead of billing | SIGNED PROJECTS: TOTALS | 0 | 1,309.09 | 21,871.79 | 5,525 | 14,479.38 | 8,287.5 | 6,791.49 | 0 | 14,144.7619 | 39,572.381 | 0 | 8,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,800 | 0 | |
| Check: change in net position equals billing less revenue (must be zero) | SIGNED PROJECTS: TOTALS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| PROVISION: ONEROUS PROJECTS | SIGNED PROJECTS: TOTALS | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 1,671.4286 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Movement in the provision (charged to cost of revenue; released as the loss-making work is done) | SIGNED PROJECTS: TOTALS | 0 | 0 | 0 | 0 | 0 | 10,147.14 | -4,731.43 | -2,908.57 | -835.7114 | -835.7143 | -835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Signed backlog: revenue still to recognise on signed projects | SIGNED PROJECTS: TOTALS | fixed fee: fee - revenue to date; T&M: remaining hours x rate | 722,040.12 | 653,398.69 | 561,728.53 | 465,677.23 | 377,028.12 | 347,174.51 | 276,050.8 | 237,279.03 | 147,197.2381 | 98,455.619 | 49,714 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 0 |
| Revenue | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | MAX(0, run-rate x seasonality - signed revenue) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78,858.381 | 72,258.381 | 83,386 | 86,900 | 108,900 | 116,600 | 112,200 | 106,700 | 121,000 | 102,300 | 66,000 | 115,500 | 127,600 | 121,000 | 115,500 | 234,502.7619 | 1,300,200 |
| Hours | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | revenue / realised rate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,159.6821 | 1,062.6232 | 1,226.2647 | 1,277.9412 | 1,601.4706 | 1,714.7059 | 1,650 | 1,569.1176 | 1,779.4118 | 1,504.4118 | 970.5882 | 1,698.5294 | 1,876.4706 | 1,779.4118 | 1,698.5294 | 3,448.57 | 19,120.5882 |
| Own hours | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | hours x own share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,043.7139 | 956.3609 | 1,103.6382 | 1,150.1471 | 1,441.3235 | 1,543.2353 | 1,485 | 1,412.2059 | 1,601.4706 | 1,353.9706 | 873.5294 | 1,528.6765 | 1,688.8235 | 1,601.4706 | 1,528.6765 | 3,103.713 | 17,208.5294 |
| Subcontract hours | WORK NOT YET IDENTIFIED (fills the gap to the scenario run-rate from the first month on Assumptions; T&M, billed monthly) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 115.9682 | 106.2623 | 122.6265 | 127.7941 | 160.1471 | 171.4706 | 165 | 156.9118 | 177.9412 | 150.4412 | 97.0588 | 169.8529 | 187.6471 | 177.9412 | 169.8529 | 344.857 | 1,912.0588 | |
| Credit note on the disputed J11 milestone | THE DISPUTED J11 FINAL MILESTONE (credit note, if any, reduces revenue when agreed) | Receivables | 0 | 0 | 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 REVENUE | PROJECTS: TOTALS | signed + new + credit notes | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 127,600 | 121,000 | 115,500 | 104,500 | 108,900 | 116,600 | 112,200 | 106,700 | 121,000 | 102,300 | 66,000 | 115,500 | 127,600 | 121,000 | 115,500 | 989,494.9619 | 1,317,800 |
| Project billing (ex VAT) | PROJECTS: TOTALS | signed + new | 53,712 | 45,708 | 75,904 | 116,152 | 58,784 | 64,440 | 53,952 | 43,968 | 73,518 | 93,372.381 | 169,372.381 | 97,900 | 113,300 | 108,900 | 116,600 | 112,200 | 106,700 | 121,000 | 102,300 | 66,000 | 115,500 | 127,600 | 121,000 | 115,500 | 946,782.7619 | 1,326,600 |
| of which customers in Portugal | PROJECTS: TOTALS | register country; new work at the Portugal share | 32,112 | 39,248 | 39,080 | 108,536 | 51,304 | 34,952 | 46,880 | 39,072 | 63,114 | 81,543.6238 | 158,533.6238 | 85,392.1 | 100,265 | 92,565 | 99,110 | 95,370 | 90,695 | 102,850 | 86,955 | 56,100 | 98,175 | 108,460 | 102,850 | 98,175 | 779,767.3476 | 1,131,570 |
| Own hours (signed and new) | PROJECTS: TOTALS | 660 | 882 | 1,134 | 1,119 | 1,013 | 983 | 915 | 506 | 1,239.25 | 1,744.9639 | 1,657.6109 | 1,559.8882 | 1,370.1471 | 1,441.3235 | 1,543.2353 | 1,485 | 1,412.2059 | 1,601.4706 | 1,353.9706 | 873.5294 | 1,528.6765 | 1,688.8235 | 1,601.4706 | 1,528.6765 | 13,413.713 | 17,428.5294 | |
| Subcontract hours (signed and new) | PROJECTS: TOTALS | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 123.3333 | 239.3015 | 229.5957 | 122.6265 | 127.7941 | 160.1471 | 171.4706 | 165 | 156.9118 | 177.9412 | 150.4412 | 97.0588 | 169.8529 | 187.6471 | 177.9412 | 169.8529 | 1,694.857 | 1,912.0588 | |
| Cabling and electrical subcontractors | PROJECTS: TOTALS | A: supplier invoices; F: monthly level x inflation | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 1,537.5 | 18,000 | 18,450 |
| SUBCONTRACTORS | PROJECTS: TOTALS | hours x rate + cabling | 3,140 | 4,780 | 8,060 | 13,800 | 16,260 | 17,900 | 17,080 | 11,340 | 11,613.3333 | 21,122.7263 | 20,326.844 | 11,555.3706 | 12,016.6176 | 14,669.5588 | 15,598.0882 | 15,067.5 | 14,404.2647 | 16,128.6765 | 13,873.6765 | 9,496.3235 | 15,465.4412 | 16,924.5588 | 16,128.6765 | 15,465.4412 | 156,978.2742 | 175,238.8235 |
| Project team FTE (project engineers and managers) | PROJECTS: TOTALS | People | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 12.8917 | 12.7842 | 12.786 | 12.7869 | 13.7869 | 13.7786 | 13.7703 | 13.7704 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 12.7869 | 13.7705 |
| Project team utilisation (own hours / productive hours) | PROJECTS: TOTALS | 45.56% | 56.82% | 73.06% | 75.43% | 65.99% | 66.26% | 65.46% | 40.14% | 83.27% | 114.32% | 107.39% | 106.9% | 82.32% | 87.61% | 93.86% | 94.5% | 86.85% | 101.91% | 91.45% | 65.42% | 96.16% | 102.71% | 96.34% | 97.28% | 75.05% | 91.37% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HARDWARE REVENUE | A: ledger; F: run-rate x seasonality x demand factor | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 269,984 | 292,864 | 244,816 | 224,224 | 201,344 | 210,496 | 240,240 | 217,360 | 228,800 | 256,256 | 210,496 | 137,280 | 269,984 | 292,864 | 244,816 | 224,224 | 2,606,888 | 2,734,160 | |
| Cost of hardware sold before rebates | A: ledger; F: revenue x (1 - margin) | 161,634 | 171,587 | 195,328 | 175,473 | 184,652 | 208,012 | 170,912 | 105,633 | 234,076.128 | 253,913.088 | 212,255.472 | 194,402.208 | 174,565.248 | 182,500.032 | 208,288.08 | 188,451.12 | 198,369.6 | 222,173.952 | 182,500.032 | 119,021.76 | 234,076.128 | 253,913.088 | 212,255.472 | 194,402.208 | 2,267,877.896 | 2,370,516.72 | |
| Gross margin before rebates | 24,366 | 25,413 | 28,672 | 25,527 | 27,348 | 29,988 | 25,088 | 15,367 | 35,907.872 | 38,950.912 | 32,560.528 | 29,821.792 | 26,778.752 | 27,995.968 | 31,951.92 | 28,908.88 | 30,430.4 | 34,082.048 | 27,995.968 | 18,258.24 | 35,907.872 | 38,950.912 | 32,560.528 | 29,821.792 | 339,010.104 | 363,643.28 | ||
| Margin % before rebates | 13.1% | 12.9% | 12.8% | 12.7% | 12.9% | 12.6% | 12.8% | 12.7% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13.3% | 13% | 13.3% | ||
| Distributor rebate accrued | Rebates | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 4,358.5353 | 3,890.2198 | 2,949.564 | 2,747.163 | 2,484.0993 | 2,923.7119 | 3,166.5547 | 2,734.9409 | 3,000.1802 | 3,544.0329 | 2,418.5734 | 1,355.3123 | 4,343.3984 | 3,890.2198 | 2,949.564 | 2,747.163 | 33,887.6021 | 35,557.7508 | |
| COST OF HARDWARE NET OF REBATES | 159,548.42 | 168,977.73 | 192,164.33 | 172,919.52 | 181,989.98 | 204,684.57 | 168,585.51 | 104,418.82 | 229,717.5927 | 250,022.8682 | 209,305.908 | 191,655.045 | 172,081.1487 | 179,576.3201 | 205,121.5253 | 185,716.1791 | 195,369.4198 | 218,629.9191 | 180,081.4586 | 117,666.4477 | 229,732.7296 | 250,022.8682 | 209,305.908 | 191,655.045 | 2,233,990.2939 | 2,334,958.9692 | ||
| Gross margin after rebates | 26,451.58 | 28,022.27 | 31,835.67 | 28,080.48 | 30,010.02 | 33,315.43 | 27,414.49 | 16,581.18 | 40,266.4073 | 42,841.1318 | 35,510.092 | 32,568.955 | 29,262.8513 | 30,919.6799 | 35,118.4747 | 31,643.8209 | 33,430.5802 | 37,626.0809 | 30,414.5414 | 19,613.5523 | 40,251.2704 | 42,841.1318 | 35,510.092 | 32,568.955 | 372,897.7061 | 399,201.0308 | ||
| Margin % after rebates | 14.22% | 14.22% | 14.21% | 13.97% | 14.16% | 14% | 13.99% | 13.7% | 14.91% | 14.63% | 14.5% | 14.53% | 14.53% | 14.69% | 14.62% | 14.56% | 14.61% | 14.68% | 14.45% | 14.29% | 14.91% | 14.63% | 14.5% | 14.53% | 14.3% | 14.6% | ||
| STOCK AT MONTH END | A: count; F: cost x days / days in month | 73,904.6 | 76,268.62 | 91,851.66 | 86,610.7 | 79,426.39 | 93,242.97 | 77,430.33 | 52,742.81 | 109,235.5264 | 114,670.4268 | 99,052.5536 | 87,794.5455 | 78,835.9185 | 91,250.016 | 94,065.5845 | 87,943.856 | 89,586.271 | 103,681.1776 | 82,419.3693 | 53,751.7626 | 109,235.5264 | 114,670.4268 | 99,052.5536 | 87,794.5455 | 87,794.5455 | 87,794.5455 | |
| Purchases | cost + closing stock - opening stock | 139,038.6 | 173,951.02 | 210,911.04 | 170,232.04 | 177,467.69 | 221,828.58 | 155,099.36 | 80,945.48 | 290,568.8444 | 259,347.9884 | 196,637.5988 | 183,144.1999 | 165,606.6209 | 194,914.1295 | 211,103.6485 | 182,329.3915 | 200,012.015 | 236,268.8586 | 161,238.2237 | 90,354.1533 | 289,559.8918 | 259,347.9884 | 196,637.5988 | 183,144.1999 | 2,259,172.4415 | 2,370,516.72 | |
| Revenue from customers in Spain (exempt intra-EU supply) | revenue x share | 22,320 | 23,640 | 26,880 | 24,120 | 25,440 | 28,560 | 23,520 | 14,520 | 32,398.08 | 35,143.68 | 29,377.92 | 26,906.88 | 24,161.28 | 25,259.52 | 28,828.8 | 26,083.2 | 27,456 | 30,750.72 | 25,259.52 | 16,473.6 | 32,398.08 | 35,143.68 | 29,377.92 | 26,906.88 | 312,826.56 | 328,099.2 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | BUNDLED LICENCES (principal) | A: billing; F: users x cover x price | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 69,048.2126 | 68,975.7933 | 74,956.0084 | 75,066.0512 | 78,858.8478 | 80,541.8157 | 80,397.9721 | 81,524.675 | 81,728.7281 | 81,976.9774 | 82,184.7324 | 82,133.8781 | 82,383.6911 | 82,600.3239 | 82,796.4437 | 83,048.6024 | 826,337.9556 | 980,176.6876 |
| Vendor cost | BUNDLED LICENCES (principal) | A: distributor invoices; F: users x cover x cost | 55,539.59 | 55,723.08 | 57,075.79 | 57,176.08 | 56,180.58 | 56,178.4 | 57,775.93 | 58,080.45 | 58,269.9551 | 58,208.8402 | 63,255.5583 | 63,348.4237 | 66,549.174 | 67,969.4347 | 67,848.0447 | 68,798.8721 | 68,971.073 | 69,180.5712 | 69,355.8961 | 69,312.9801 | 69,523.7979 | 69,706.6148 | 69,872.1208 | 70,084.9181 | 696,812.6773 | 827,173.4973 |
| Billed to customers | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | A: billing; F: same month a year earlier x (1 + change) | 243,500 | 13,100 | 19,200 | 14,900 | 9,600 | 17,300 | 11,600 | 6,400 | 23,320 | 15,900 | 12,720 | 26,500 | 258,110 | 13,886 | 20,352 | 15,794 | 10,176 | 18,338 | 12,296 | 6,784 | 24,719.2 | 16,854 | 13,483.2 | 28,090 | 414,040 | 438,882.4 |
| REVENUE (billings of the last 12 months / 12) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | 33,625 | 33,716.6667 | 33,816.6667 | 33,891.6667 | 33,941.6667 | 34,050 | 34,100 | 34,133.3333 | 34,243.3333 | 34,318.3333 | 34,378.3333 | 34,503.3333 | 35,720.8333 | 35,786.3333 | 35,882.3333 | 35,956.8333 | 36,004.8333 | 36,091.3333 | 36,149.3333 | 36,181.3333 | 36,297.9333 | 36,377.4333 | 36,441.0333 | 36,573.5333 | 408,718.3333 | 433,463.1 | |
| CONTRACT LIABILITY: ANNUAL LICENCES BILLED AHEAD | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | opening + billed - revenue | 294,875 | 274,258.3333 | 259,641.6667 | 240,650 | 216,308.3333 | 199,558.3333 | 177,058.3333 | 149,325 | 138,401.6667 | 119,983.3333 | 98,325 | 90,321.6667 | 312,710.8333 | 290,810.5 | 275,280.1667 | 255,117.3333 | 229,288.5 | 211,535.1667 | 187,681.8333 | 158,284.5 | 146,705.7667 | 127,182.3333 | 104,224.5 | 95,740.9667 | 90,321.6667 | 95,740.9667 |
| Per billing schedule: billings of the last 11 months x months still to run / 12 | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | independent calculation | 294,875 | 274,258.3333 | 259,641.6667 | 240,650 | 216,308.3333 | 199,558.3333 | 177,058.3333 | 149,325 | 138,401.6667 | 119,983.3333 | 98,325 | 90,321.6667 | 312,710.8333 | 290,810.5 | 275,280.1667 | 255,117.3333 | 229,288.5 | 211,535.1667 | 187,681.8333 | 158,284.5 | 146,705.7667 | 127,182.3333 | 104,224.5 | 95,740.9667 | 90,321.6667 | 95,740.9667 |
| Check: roll-forward less schedule (must be zero) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Vendor cost invoiced (prepaid for the year) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | billed x (1 - margin) | 185,060 | 9,956 | 14,592 | 11,324 | 7,296 | 13,148 | 8,816 | 4,864 | 17,723.2 | 12,084 | 9,667.2 | 20,140 | 196,163.6 | 10,553.36 | 15,467.52 | 12,003.44 | 7,733.76 | 13,936.88 | 9,344.96 | 5,155.84 | 18,786.592 | 12,809.04 | 10,247.232 | 21,348.4 | 314,670.4 | 333,550.624 |
| Vendor cost recognised | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | revenue x (1 - margin) | 25,555 | 25,624.6667 | 25,700.6667 | 25,757.6667 | 25,795.6667 | 25,878 | 25,916 | 25,941.3333 | 26,024.9333 | 26,081.9333 | 26,127.5333 | 26,222.5333 | 27,147.8333 | 27,197.6133 | 27,270.5733 | 27,327.1933 | 27,363.6733 | 27,429.4133 | 27,473.4933 | 27,497.8133 | 27,586.4293 | 27,646.8493 | 27,695.1853 | 27,795.8853 | 310,625.9333 | 329,431.956 |
| PREPAID ANNUAL LICENCE COSTS | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | opening + invoiced - recognised | 224,105 | 208,436.3333 | 197,327.6667 | 182,894 | 164,394.3333 | 151,664.3333 | 134,564.3333 | 113,487 | 105,185.2667 | 91,187.3333 | 74,727 | 68,644.4667 | 237,660.2333 | 221,015.98 | 209,212.9267 | 193,889.1733 | 174,259.26 | 160,766.7267 | 142,638.1933 | 120,296.22 | 111,496.3827 | 96,658.5733 | 79,210.62 | 72,763.1347 | 68,644.4667 | 72,763.1347 |
| Check: prepaid cost equals the contract liability x (1 - margin) (must be zero) | ANNUAL LICENCES (principal, billed a year ahead, recognised over 12 months) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Gross billing to customers (memo: not revenue) | LICENCES RESOLD AS AGENT (net) | A: billing; F: run-rate x seasonality x factor | 49,000 | 54,000 | 66,000 | 57,000 | 58,000 | 61,000 | 55,000 | 38,000 | 67,206.7 | 71,603.4 | 76,628.2 | 82,909.2 | 51,504.2 | 55,272.8 | 67,834.8 | 58,413.3 | 60,297.6 | 64,066.2 | 57,785.2 | 40,198.4 | 67,206.7 | 71,603.4 | 76,628.2 | 82,909.2 | 736,347.5 | 753,720 |
| Due to the vendor (gross less commission) | LICENCES RESOLD AS AGENT (net) | 43,365 | 47,790 | 58,410 | 50,445 | 51,330 | 53,985 | 48,675 | 33,630 | 59,477.9295 | 63,369.009 | 67,815.957 | 73,374.642 | 45,581.217 | 48,916.428 | 60,033.798 | 51,695.7705 | 53,363.376 | 56,698.587 | 51,139.902 | 35,575.584 | 59,477.9295 | 63,369.009 | 67,815.957 | 73,374.642 | 651,667.5375 | 667,042.2 | |
| Commission | LICENCES RESOLD AS AGENT (net) | gross x commission rate | 5,635 | 6,210 | 7,590 | 6,555 | 6,670 | 7,015 | 6,325 | 4,370 | 7,728.7705 | 8,234.391 | 8,812.243 | 9,534.558 | 5,922.983 | 6,356.372 | 7,801.002 | 6,717.5295 | 6,934.224 | 7,367.613 | 6,645.298 | 4,622.816 | 7,728.7705 | 8,234.391 | 8,812.243 | 9,534.558 | 84,679.9625 | 86,677.8 |
| Vendor incentive on agent sales | LICENCES RESOLD AS AGENT (net) | Rebates | 1,300.95 | 1,433.7 | 1,752.3 | 1,513.35 | 1,539.9 | 1,619.55 | 1,460.25 | 1,008.9 | 1,784.3379 | 1,901.0703 | 2,034.4787 | 2,201.2393 | 1,367.4365 | 1,467.4928 | 1,801.0139 | 1,550.8731 | 1,600.9013 | 1,700.9576 | 1,534.1971 | 1,067.2675 | 1,784.3379 | 1,901.0703 | 2,034.4787 | 2,201.2393 | 19,550.0261 | 20,011.266 |
| AGENT REVENUE (commission + incentive) | LICENCES RESOLD AS AGENT (net) | 6,935.95 | 7,643.7 | 9,342.3 | 8,068.35 | 8,209.9 | 8,634.55 | 7,785.25 | 5,378.9 | 9,513.1084 | 10,135.4613 | 10,846.7217 | 11,735.7973 | 7,290.4195 | 7,823.8648 | 9,602.0159 | 8,268.4026 | 8,535.1253 | 9,068.5706 | 8,179.4951 | 5,690.0835 | 9,513.1084 | 10,135.4613 | 10,846.7217 | 11,735.7973 | 104,229.9886 | 106,689.066 | |
| Licence distributor invoices, ex VAT (bundled + annual + agent) | TOTALS | 283,964.59 | 113,469.08 | 130,077.79 | 118,945.08 | 114,806.58 | 123,311.4 | 115,266.93 | 96,574.45 | 135,471.0846 | 133,661.8492 | 140,738.7153 | 156,863.0657 | 308,293.991 | 127,439.2227 | 143,349.3627 | 132,498.0826 | 130,068.209 | 139,816.0382 | 129,840.7581 | 110,044.4041 | 147,788.3194 | 145,884.6638 | 147,935.3098 | 164,807.9601 | 1,663,150.6148 | 1,827,766.3213 | |
| LICENCE COST NET OF VENDOR INCENTIVES (bundled + annual recognised - incentive on principal licences) | TOTALS | 73,876.6 | 79,377.3767 | 80,626.4267 | 80,878.7467 | 80,071.9467 | 79,976.61 | 81,694.17 | 82,133.4533 | 82,015.0937 | 82,181.9883 | 87,195.4089 | 87,066.3043 | 85,815.6241 | 92,811.3642 | 92,619.1511 | 93,701.996 | 94,033.6013 | 94,116.461 | 94,468.3638 | 94,576.7288 | 94,460.9155 | 94,877.9945 | 95,163.7255 | 95,137.8039 | 977,094.1253 | 1,121,783.7297 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hardware purchases | HARDWARE DISTRIBUTOR REBATE | Hardware | 139,038.6 | 173,951.02 | 210,911.04 | 170,232.04 | 177,467.69 | 221,828.58 | 155,099.36 | 80,945.48 | 290,568.8444 | 259,347.9884 | 196,637.5988 | 183,144.1999 | 165,606.6209 | 194,914.1295 | 211,103.6485 | 182,329.3915 | 200,012.015 | 236,268.8586 | 161,238.2237 | 90,354.1533 | 289,559.8918 | 259,347.9884 | 196,637.5988 | 183,144.1999 | 2,259,172.4415 | 2,370,516.72 |
| Purchases in the quarter (actual and forecast months) | HARDWARE DISTRIBUTOR REBATE | 523,900.66 | 523,900.66 | 523,900.66 | 569,528.31 | 569,528.31 | 569,528.31 | 526,613.6844 | 526,613.6844 | 526,613.6844 | 639,129.7871 | 639,129.7871 | 639,129.7871 | 571,624.399 | 571,624.399 | 571,624.399 | 618,610.2651 | 618,610.2651 | 618,610.2651 | 541,152.2688 | 541,152.2688 | 541,152.2688 | 639,129.7871 | 639,129.7871 | 639,129.7871 | |||
| Tier rate the quarter earns | HARDWARE DISTRIBUTOR REBATE | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | |||
| Purchases in the quarter to date | HARDWARE DISTRIBUTOR REBATE | 139,038.6 | 312,989.62 | 523,900.66 | 170,232.04 | 347,699.73 | 569,528.31 | 155,099.36 | 236,044.84 | 526,613.6844 | 259,347.9884 | 455,985.5872 | 639,129.7871 | 165,606.6209 | 360,520.7505 | 571,624.399 | 182,329.3915 | 382,341.4065 | 618,610.2651 | 161,238.2237 | 251,592.377 | 541,152.2688 | 259,347.9884 | 455,985.5872 | 639,129.7871 | |||
| REBATE ACCRUED | HARDWARE DISTRIBUTOR REBATE | A: CFO estimate; F: rate x quarter to date - accrued earlier in the quarter | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 4,358.5353 | 3,890.2198 | 2,949.564 | 2,747.163 | 2,484.0993 | 2,923.7119 | 3,166.5547 | 2,734.9409 | 3,000.1802 | 3,544.0329 | 2,418.5734 | 1,355.3123 | 4,343.3984 | 3,890.2198 | 2,949.564 | 2,747.163 | 33,887.6021 | 35,557.7508 |
| Accrued in the quarter to date | HARDWARE DISTRIBUTOR REBATE | 2,085.58 | 4,694.85 | 7,858.52 | 2,553.48 | 5,215.5 | 8,542.93 | 2,326.49 | 3,540.67 | 7,899.2053 | 3,890.2198 | 6,839.7838 | 9,586.9468 | 2,484.0993 | 5,407.8113 | 8,574.366 | 2,734.9409 | 5,735.1211 | 9,279.154 | 2,418.5734 | 3,773.8857 | 8,117.284 | 3,890.2198 | 6,839.7838 | 9,586.9468 | |||
| Rebate received (end of the second month after the quarter) | HARDWARE DISTRIBUTOR REBATE | A: bank; F: accrual of the prior quarter | 0 | 19,612.92 | 0 | 0 | 7,858.52 | 0 | 0 | 8,542.93 | 0 | 0 | 7,899.2053 | 0 | 0 | 9,586.9468 | 0 | 0 | 8,574.366 | 0 | 0 | 9,279.154 | 0 | 0 | 8,117.284 | 0 | 43,913.5753 | 35,557.7508 |
| Incentive on principal licences (reduces licence cost) | LICENCE VENDOR INCENTIVES | A: vendor statement; F: rate x (bundled cost + annual cost invoiced) | 7,217.99 | 1,970.37 | 2,150.03 | 2,055 | 1,904.3 | 2,079.79 | 1,997.76 | 1,888.33 | 2,279.7947 | 2,108.7852 | 2,187.6827 | 2,504.6527 | 7,881.3832 | 2,355.6838 | 2,499.4669 | 2,424.0694 | 2,301.145 | 2,493.5235 | 2,361.0257 | 2,234.0646 | 2,649.3117 | 2,475.4696 | 2,403.5806 | 2,742.9995 | 30,344.4853 | 34,821.7236 |
| of which on bundled licences (managed services) | LICENCE VENDOR INCENTIVES | by vendor cost | 1,666.1882 | 1,671.6904 | 1,712.2708 | 1,715.2804 | 1,685.4197 | 1,685.3504 | 1,733.2797 | 1,742.4103 | 1,748.0987 | 1,746.2652 | 1,897.6667 | 1,900.4527 | 1,996.4752 | 2,039.083 | 2,035.4413 | 2,063.9662 | 2,069.1322 | 2,075.4171 | 2,080.6769 | 2,079.3894 | 2,085.7139 | 2,091.1984 | 2,096.1636 | 2,102.5475 | 20,904.3731 | 24,815.2049 |
| of which on annual licences (licence resale) | LICENCE VENDOR INCENTIVES | 5,551.8018 | 298.6796 | 437.7592 | 339.7196 | 218.8803 | 394.4396 | 264.4803 | 145.9197 | 531.696 | 362.52 | 290.016 | 604.2 | 5,884.908 | 316.6008 | 464.0256 | 360.1032 | 232.0128 | 418.1064 | 280.3488 | 154.6752 | 563.5978 | 384.2712 | 307.417 | 640.452 | 9,440.1122 | 10,006.5187 | |
| Incentive on licences resold as agent (agent revenue) | LICENCE VENDOR INCENTIVES | A: vendor statement; F: rate x amount due to the vendor | 1,300.95 | 1,433.7 | 1,752.3 | 1,513.35 | 1,539.9 | 1,619.55 | 1,460.25 | 1,008.9 | 1,784.3379 | 1,901.0703 | 2,034.4787 | 2,201.2393 | 1,367.4365 | 1,467.4928 | 1,801.0139 | 1,550.8731 | 1,600.9013 | 1,700.9576 | 1,534.1971 | 1,067.2675 | 1,784.3379 | 1,901.0703 | 2,034.4787 | 2,201.2393 | 19,550.0261 | 20,011.266 |
| Incentives received (second month after the quarter) | LICENCE VENDOR INCENTIVES | A: bank; F: accruals of the prior quarter | 0 | 12,530.38 | 0 | 0 | 15,825.34 | 0 | 0 | 10,711.89 | 0 | 0 | 10,419.3725 | 0 | 0 | 12,937.9089 | 0 | 0 | 17,372.4773 | 0 | 0 | 12,071.4699 | 0 | 0 | 11,630.2044 | 0 | 49,486.9825 | 54,012.0605 |
| Rebates and incentives accrued | RECEIVABLE | 10,604.52 | 6,013.34 | 7,066 | 6,121.83 | 6,106.22 | 7,026.77 | 5,784.5 | 4,111.41 | 8,422.6678 | 7,900.0753 | 7,171.7254 | 7,453.055 | 11,732.919 | 6,746.8886 | 7,467.0356 | 6,709.8833 | 6,902.2265 | 7,738.514 | 6,313.7961 | 4,656.6444 | 8,777.048 | 8,266.7597 | 7,387.6233 | 7,691.4018 | 83,782.1135 | 90,390.7404 | |
| Rebates and incentives received | RECEIVABLE | 0 | 32,143.3 | 0 | 0 | 23,683.86 | 0 | 0 | 19,254.82 | 0 | 0 | 18,318.5778 | 0 | 0 | 22,524.8557 | 0 | 0 | 25,946.8433 | 0 | 0 | 21,350.6239 | 0 | 0 | 19,747.4885 | 0 | 93,400.5578 | 89,569.8113 | |
| REBATES AND INCENTIVES RECEIVABLE | RECEIVABLE | opening + accrued - received | 42,747.82 | 16,617.86 | 23,683.86 | 29,805.69 | 12,228.05 | 19,254.82 | 25,039.32 | 9,895.91 | 18,318.5778 | 26,218.6531 | 15,071.8007 | 22,524.8557 | 34,257.7748 | 18,479.8077 | 25,946.8433 | 32,656.7266 | 13,612.1098 | 21,350.6239 | 27,664.42 | 10,970.4405 | 19,747.4885 | 28,014.2482 | 15,654.383 | 23,345.7848 | 22,524.8557 | 23,345.7848 |
| Check: receivable equals the accruals of quarters not yet paid (must be zero) | RECEIVABLE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Hardware rebate earned, % of purchases | RECEIVABLE | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | REVENUE BY STREAM (IFRS 15) | Contracts | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,690.7987 | 238,655.0069 | 257,727.4001 | 258,279.8182 | 264,564.7875 | 270,963.607 | 272,326.0452 | 277,311.0847 | 278,509.5297 | 279,356.4066 | 280,833.5664 | 282,496.0135 | 283,335.599 | 284,964.5237 | 286,761.69 | 287,722.5039 | 2,827,368.934 | 3,349,145.3572 |
| Managed services: SLA credits (variable consideration) | REVENUE BY STREAM (IFRS 15) | Service_Desk | 0 | 0 | -3,235.73 | -4,841.71 | -5,441.04 | -3,820.12 | -11,314.01 | -9,000.4 | -8,364.3445 | -873.2186 | -12,886.37 | -2,107.0696 | -3,742.4834 | -5,068.0512 | 0 | -2,458.0625 | 0 | 0 | -2,103.1732 | -5,542.5361 | -2,799.7733 | 0 | 0 | 0 | -61,884.0127 | -21,714.0797 |
| Managed services: onboarding fees recognised | REVENUE BY STREAM (IFRS 15) | Contracts | 293.75 | 293.75 | 393.75 | 393.75 | 476.25 | 476.25 | 611.25 | 611.25 | 611.25 | 611.25 | 1,031.25 | 1,031.25 | 1,128.75 | 1,233.75 | 1,233.75 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 1,302.5 | 6,835 | 15,318.75 |
| Licences bundled in managed contracts (principal) | REVENUE BY STREAM (IFRS 15) | Licences | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 69,048.2126 | 68,975.7933 | 74,956.0084 | 75,066.0512 | 78,858.8478 | 80,541.8157 | 80,397.9721 | 81,524.675 | 81,728.7281 | 81,976.9774 | 82,184.7324 | 82,133.8781 | 82,383.6911 | 82,600.3239 | 82,796.4437 | 83,048.6024 | 826,337.9556 | 980,176.6876 |
| Annual security and backup licences (principal, over 12 months) | REVENUE BY STREAM (IFRS 15) | Licences | 33,625 | 33,716.6667 | 33,816.6667 | 33,891.6667 | 33,941.6667 | 34,050 | 34,100 | 34,133.3333 | 34,243.3333 | 34,318.3333 | 34,378.3333 | 34,503.3333 | 35,720.8333 | 35,786.3333 | 35,882.3333 | 35,956.8333 | 36,004.8333 | 36,091.3333 | 36,149.3333 | 36,181.3333 | 36,297.9333 | 36,377.4333 | 36,441.0333 | 36,573.5333 | 408,718.3333 | 433,463.1 |
| Licences resold as agent: commission and vendor incentive (net) | REVENUE BY STREAM (IFRS 15) | Licences | 6,935.95 | 7,643.7 | 9,342.3 | 8,068.35 | 8,209.9 | 8,634.55 | 7,785.25 | 5,378.9 | 9,513.1084 | 10,135.4613 | 10,846.7217 | 11,735.7973 | 7,290.4195 | 7,823.8648 | 9,602.0159 | 8,268.4026 | 8,535.1253 | 9,068.5706 | 8,179.4951 | 5,690.0835 | 9,513.1084 | 10,135.4613 | 10,846.7217 | 11,735.7973 | 104,229.9886 | 106,689.066 |
| Hardware (principal) | REVENUE BY STREAM (IFRS 15) | Hardware | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 269,984 | 292,864 | 244,816 | 224,224 | 201,344 | 210,496 | 240,240 | 217,360 | 228,800 | 256,256 | 210,496 | 137,280 | 269,984 | 292,864 | 244,816 | 224,224 | 2,606,888 | 2,734,160 |
| Projects | REVENUE BY STREAM (IFRS 15) | Projects | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 127,600 | 121,000 | 115,500 | 104,500 | 108,900 | 116,600 | 112,200 | 106,700 | 121,000 | 102,300 | 66,000 | 115,500 | 127,600 | 121,000 | 115,500 | 989,494.9619 | 1,317,800 |
| REVENUE | REVENUE BY STREAM (IFRS 15) | 565,487.86 | 596,889.5867 | 653,538.0567 | 633,432.8067 | 632,143.3767 | 602,238.1 | 602,404.58 | 496,657.4933 | 702,808.1505 | 772,286.6262 | 731,869.3436 | 718,233.1804 | 689,665.1547 | 710,677.3197 | 756,282.1166 | 731,465.4331 | 741,580.7163 | 785,051.788 | 719,342.454 | 605,541.2724 | 795,517.0586 | 835,844.2422 | 783,964.3887 | 760,106.9368 | 7,707,989.1607 | 8,915,038.8811 | |
| Managed services (fees, SLA credits, onboarding, bundled licences) | BY SERVICE LINE | 288,374.83 | 289,887.79 | 294,708.93 | 294,421.49 | 289,342.7 | 291,699.94 | 293,395.62 | 297,373.49 | 298,985.9169 | 307,368.8316 | 320,828.2885 | 332,270.0498 | 340,809.9018 | 347,671.1215 | 353,957.7673 | 357,680.1972 | 361,540.7577 | 362,635.884 | 362,217.6256 | 360,389.8556 | 364,222.0169 | 368,867.3476 | 370,860.6337 | 372,073.6062 | 3,598,657.8768 | 4,322,926.7151 | |
| Licence resale (annual and agent) | BY SERVICE LINE | 40,560.95 | 41,360.3667 | 43,158.9667 | 41,960.0167 | 42,151.5667 | 42,684.55 | 41,885.25 | 39,512.2333 | 43,756.4417 | 44,453.7946 | 45,225.055 | 46,239.1306 | 43,011.2528 | 43,610.1982 | 45,484.3493 | 44,225.2359 | 44,539.9586 | 45,159.9039 | 44,328.8284 | 41,871.4169 | 45,811.0417 | 46,512.8946 | 47,287.755 | 48,309.3306 | 512,948.322 | 540,152.166 | |
| Hardware | BY SERVICE LINE | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 269,984 | 292,864 | 244,816 | 224,224 | 201,344 | 210,496 | 240,240 | 217,360 | 228,800 | 256,256 | 210,496 | 137,280 | 269,984 | 292,864 | 244,816 | 224,224 | 2,606,888 | 2,734,160 | |
| Projects | BY SERVICE LINE | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 127,600 | 121,000 | 115,500 | 104,500 | 108,900 | 116,600 | 112,200 | 106,700 | 121,000 | 102,300 | 66,000 | 115,500 | 127,600 | 121,000 | 115,500 | 989,494.9619 | 1,317,800 | |
| Recurring revenue (managed services and annual licences) | BY SERVICE LINE | 321,999.83 | 323,604.4567 | 328,525.5967 | 328,313.1567 | 323,284.3667 | 325,749.94 | 327,495.62 | 331,506.8233 | 333,229.2502 | 341,687.165 | 355,206.6219 | 366,773.3831 | 376,530.7352 | 383,457.4549 | 389,840.1006 | 393,637.0305 | 397,545.5911 | 398,727.2174 | 398,366.9589 | 396,571.1889 | 400,519.9502 | 405,244.7809 | 407,301.667 | 408,647.1396 | 4,007,376.2102 | 4,756,389.8151 | |
| Recurring revenue, share of revenue | BY SERVICE LINE | 56.94% | 54.22% | 50.27% | 51.83% | 51.14% | 54.09% | 54.36% | 66.75% | 47.41% | 44.24% | 48.53% | 51.07% | 54.6% | 53.96% | 51.55% | 53.81% | 53.61% | 50.79% | 55.38% | 65.49% | 50.35% | 48.48% | 51.95% | 53.76% | 51.99% | 53.35% | |
| Revenue growth on the same month a year earlier | BY SERVICE LINE | History for 2025 | -10.12% | -8.75% | -8.11% | -7.22% | -8.64% | -20.6% | -10.55% | -9.12% | -8.11% | -4.05% | -2.15% | -0.85% | 21.96% | 19.06% | 15.72% | 15.48% | 17.31% | 30.36% | 19.41% | 21.92% | 13.19% | 8.23% | 7.12% | 5.83% | ||
| Managed services growth on the same month a year earlier | BY SERVICE LINE | History for 2025 | 12.48% | 10.28% | 9.31% | 8.71% | 6.47% | 5.42% | 5.69% | 7.42% | 5.84% | 8.38% | 12.74% | 16.52% | 18.18% | 19.93% | 20.1% | 21.49% | 24.95% | 24.32% | 23.46% | 21.19% | 21.82% | 20.01% | 15.59% | 11.98% | ||
| Gross billing of licences resold as agent (memo: not revenue) | BY SERVICE LINE | Licences | 49,000 | 54,000 | 66,000 | 57,000 | 58,000 | 61,000 | 55,000 | 38,000 | 67,206.7 | 71,603.4 | 76,628.2 | 82,909.2 | 51,504.2 | 55,272.8 | 67,834.8 | 58,413.3 | 60,297.6 | 64,066.2 | 57,785.2 | 40,198.4 | 67,206.7 | 71,603.4 | 76,628.2 | 82,909.2 | 736,347.5 | 753,720 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Service desk analysts | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 12.8483 | 13.6984 | 14.6903 | 14.6688 | 15.6575 | 15.6462 | 16.6348 | 16.6234 | 16.612 | 16.6123 | 16.6124 | 16.6124 | 16.6124 | 16.6124 | 16.6124 | 16.6124 | 14.6688 | 16.6124 |
| Support engineers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 12 | 12 | 12 | 11 | 10 | 10 | 10 | 10 | 9.8833 | 11.768 | 11.7474 | 11.7257 | 11.7261 | 11.7264 | 11.7264 | 11.7264 | 11.7264 | 12.7264 | 12.7147 | 12.7032 | 12.7035 | 12.7036 | 12.7036 | 12.7036 | 11.7257 | 12.7036 |
| Systems engineers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 6 | 6 | 6 | 6 | 6 | 5 | 5 | 5 | 4.9417 | 4.884 | 5.8854 | 5.8744 | 5.8628 | 5.8631 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 5.8744 | 5.8632 |
| Field technicians | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 6 | 6 | 5 | 5 | 5 | 6 | 6 | 6 | 5.93 | 5.8608 | 5.8624 | 5.8632 | 5.8632 | 5.8632 | 5.8632 | 6.8632 | 6.8515 | 6.84 | 6.8403 | 6.8404 | 6.8404 | 6.8404 | 6.8404 | 6.8404 | 5.8632 | 6.8404 |
| NOC and security analysts | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.965 | 2.9304 | 2.9312 | 2.9316 | 3.9316 | 3.9199 | 3.9084 | 3.9087 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 3.9088 | 2.9316 | 3.9088 |
| Service delivery managers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.9767 | 1.9536 | 1.9541 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 | 1.9544 |
| Project engineers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 10.9083 | 10.8174 | 10.819 | 10.8197 | 11.8197 | 11.8113 | 11.8031 | 11.8032 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 11.8033 | 10.8197 | 11.8033 |
| Project managers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.9833 | 1.9668 | 1.9671 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 | 1.9672 |
| Sales director | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9875 | 0.9752 | 0.9755 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 |
| Account managers | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 3.95 | 3.9006 | 3.9019 | 3.9025 | 4.9024 | 4.8899 | 4.8776 | 4.8779 | 4.8781 | 4.8781 | 4.878 | 4.878 | 4.878 | 4.878 | 4.878 | 4.878 | 3.9025 | 4.878 |
| Presales engineer | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9875 | 0.9752 | 0.9755 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 |
| Marketing | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.9875 | 0.9752 | 0.9755 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 | 0.9756 |
| Directors (CEO and CTO, founders) | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.99 | 1.9801 | 1.9801 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 |
| Finance | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.985 | 2.9701 | 2.9702 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 | 2.9703 |
| People and HR | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.995 | 0.99 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 |
| Procurement and logistics | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1.99 | 1.9801 | 1.9801 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 | 1.9802 |
| Office administration | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | A: payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0.995 | 0.99 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 | 0.9901 |
| TOTAL HEADCOUNT | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | 68 | 69 | 69 | 68 | 67 | 67 | 68 | 68 | 67.3042 | 69.6159 | 71.5958 | 71.5452 | 75.5227 | 75.4794 | 76.436 | 77.4253 | 77.4026 | 78.3913 | 78.38 | 78.3686 | 78.3689 | 78.369 | 78.369 | 78.369 | 71.5452 | 78.369 | |
| Service desk FTE (analysts, support and systems engineers, field technicians, NOC) | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | 39 | 39 | 38 | 37 | 36 | 36 | 37 | 37 | 36.5683 | 39.1417 | 41.1167 | 41.0637 | 43.0412 | 43.0188 | 43.996 | 44.9848 | 44.9619 | 45.9506 | 45.9394 | 45.928 | 45.9282 | 45.9283 | 45.9283 | 45.9283 | 41.0637 | 45.9283 | |
| Project team FTE (project engineers and managers) | HEADCOUNT BY BAND (A: payroll; F: prior + planned hires x scenario factor - leavers + leavers replaced two months later) | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 12.8917 | 12.7842 | 12.786 | 12.7869 | 13.7869 | 13.7786 | 13.7703 | 13.7704 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 12.7869 | 13.7705 | |
| Service desk analysts | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1517 | 0.1499 | 0.1598 | 0.1714 | 0.1711 | 0.1827 | 0.1825 | 0.1941 | 0.1939 | 0.1938 | 0.1938 | 0.1938 | 0.1938 | 0.1938 | 0.1938 | 0.1938 | 0.6328 | 2.281 |
| Support engineers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1167 | 0.1153 | 0.1373 | 0.1371 | 0.1368 | 0.1368 | 0.1368 | 0.1368 | 0.1368 | 0.1368 | 0.1485 | 0.1483 | 0.1482 | 0.1482 | 0.1482 | 0.1482 | 0.5063 | 1.7105 |
| Systems engineers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0583 | 0.0577 | 0.057 | 0.0687 | 0.0685 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.2416 | 0.821 |
| Field technicians | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.07 | 0.0692 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0684 | 0.0801 | 0.0799 | 0.0798 | 0.0798 | 0.0798 | 0.0798 | 0.0798 | 0.0798 | 0.276 | 0.9124 |
| NOC and security analysts | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.035 | 0.0346 | 0.0342 | 0.0342 | 0.0342 | 0.0459 | 0.0457 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.0456 | 0.138 | 0.5362 |
| Service delivery managers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0233 | 0.0231 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.0228 | 0.092 | 0.2736 |
| Project engineers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0917 | 0.0909 | 0.0901 | 0.0902 | 0.0902 | 0.0985 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.0984 | 0.3629 | 1.1723 |
| Project managers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0167 | 0.0165 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | 0.066 | 0.1967 |
| Sales director | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0125 | 0.0123 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0492 | 0.1463 |
| Account managers | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.05 | 0.0494 | 0.0488 | 0.0488 | 0.0488 | 0.0613 | 0.0611 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.061 | 0.1969 | 0.72 |
| Presales engineer | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0125 | 0.0123 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0492 | 0.1463 |
| Marketing | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0125 | 0.0123 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0122 | 0.0492 | 0.1463 |
| Directors (CEO and CTO, founders) | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0398 | 0.1188 |
| Finance | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.015 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0149 | 0.0596 | 0.1782 |
| People and HR | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.0199 | 0.0594 |
| Procurement and logistics | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0099 | 0.0398 | 0.1188 |
| Office administration | LEAVERS (forecast; fractional FTE) | prior headcount x annual rate / 12 x factor | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.0199 | 0.0594 |
| Hires in the month (A: from the payroll; F: planned and replacements) | LEAVERS (forecast; fractional FTE) | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 0 | 3 | 2.6958 | 0.6883 | 4.7159 | 0.739 | 1.7384 | 1.7823 | 0.7818 | 1.7929 | 0.8045 | 0.8042 | 0.8158 | 0.8156 | 0.8155 | 0.8155 | 10.3841 | 16.4213 | |
| Planned hires in the month (hiring plan x scenario factor) | LEAVERS (forecast; fractional FTE) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 2 | 0 | 4 | 0 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 7 | |
| Leavers in the month (A: from the payroll; F: attrition) | LEAVERS (forecast; fractional FTE) | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0.6958 | 0.6883 | 0.7159 | 0.739 | 0.7384 | 0.7823 | 0.7818 | 0.7929 | 0.8045 | 0.8042 | 0.8158 | 0.8156 | 0.8155 | 0.8155 | 0.8155 | 0.8155 | 6.8389 | 9.5974 | |
| L1: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 14,400 | 14,400 | 14,400 | 14,400 | 14,400 | 14,400 | 15,600 | 15,600 | 15,418 | 16,438.1233 | 17,628.3452 | 17,602.5579 | 19,446.5868 | 19,432.5723 | 20,660.4098 | 20,646.2485 | 20,632.089 | 20,632.4194 | 20,632.5807 | 20,632.575 | 20,632.5732 | 20,632.5733 | 20,632.5733 | 20,632.5733 | 184,687.0264 | 245,245.7746 |
| L2: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 19,800 | 19,800 | 19,800 | 18,150 | 16,500 | 16,500 | 16,500 | 16,500 | 16,307.5 | 19,417.2458 | 19,383.2113 | 19,347.328 | 20,025.3287 | 20,025.7522 | 20,025.7374 | 20,025.7326 | 20,025.7328 | 21,733.4829 | 21,713.5591 | 21,693.8678 | 21,694.33 | 21,694.5544 | 21,694.5463 | 21,694.5438 | 218,005.2851 | 252,047.1682 |
| L3: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 14,100 | 14,100 | 14,100 | 14,100 | 14,100 | 11,750 | 11,750 | 11,750 | 11,612.9167 | 11,477.4326 | 13,830.6126 | 13,804.7395 | 14,259.8031 | 14,260.4434 | 14,260.7638 | 14,260.7526 | 14,260.749 | 14,260.7491 | 14,260.7492 | 14,260.7492 | 14,260.7492 | 14,260.7492 | 14,260.7492 | 14,260.7492 | 156,475.7014 | 171,127.7561 |
| FLD: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 7,800 | 7,800 | 6,500 | 6,500 | 6,500 | 7,800 | 7,800 | 7,800 | 7,709 | 7,619.0617 | 7,621.1726 | 7,622.1973 | 7,888.9363 | 7,888.9244 | 7,888.925 | 9,234.4251 | 9,218.7276 | 9,203.2132 | 9,203.5774 | 9,203.7541 | 9,203.7478 | 9,203.7458 | 9,203.7459 | 9,203.7459 | 89,071.4315 | 106,545.4685 |
| NOC: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,250 | 5,188.75 | 5,128.2146 | 5,129.6354 | 5,130.3251 | 7,121.111 | 7,099.9717 | 7,079.0874 | 7,079.5776 | 7,079.8156 | 7,079.8071 | 7,079.8044 | 7,079.8045 | 7,079.8046 | 7,079.8046 | 7,079.8046 | 7,079.8046 | 62,576.9251 | 85,018.1975 |
| SDM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,300 | 5,238.1667 | 5,177.0547 | 5,178.4891 | 5,179.1853 | 5,360.4311 | 5,360.423 | 5,360.4234 | 5,360.4235 | 5,360.4235 | 5,360.4235 | 5,360.4235 | 5,360.4235 | 5,360.4235 | 5,360.4235 | 5,360.4235 | 5,360.4235 | 63,172.8958 | 64,325.0885 |
| PEN: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 21,500 | 23,650 | 23,650 | 23,650 | 23,650 | 23,650 | 23,650 | 23,650 | 23,452.9167 | 23,257.4757 | 23,260.7467 | 23,262.3481 | 26,301.7383 | 26,283.1811 | 26,264.7923 | 26,265.1002 | 26,265.2509 | 26,265.2471 | 26,265.2459 | 26,265.2459 | 26,265.2459 | 26,265.2459 | 26,265.2459 | 26,265.2459 | 280,283.4872 | 315,236.7853 |
| PM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,652.5 | 5,605.3958 | 5,606.1842 | 5,606.5702 | 5,802.79 | 5,802.7867 | 5,802.7869 | 5,802.7869 | 5,802.7869 | 5,802.7869 | 5,802.7869 | 5,802.7869 | 5,802.7869 | 5,802.7869 | 5,802.7869 | 5,802.7869 | 68,070.6502 | 69,633.4456 |
| SD: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,555 | 3,510.5625 | 3,511.6805 | 3,512.222 | 3,635.1283 | 3,635.1215 | 3,635.1219 | 3,635.122 | 3,635.122 | 3,635.122 | 3,635.122 | 3,635.122 | 3,635.122 | 3,635.122 | 3,635.122 | 3,635.122 | 42,889.4649 | 43,621.4692 |
| AM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 6,000 | 6,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 7,900 | 7,801.25 | 7,803.7344 | 7,804.9377 | 10,148.0628 | 10,122.1728 | 10,096.6221 | 10,097.2651 | 10,097.5764 | 10,097.5645 | 10,097.5607 | 10,097.5609 | 10,097.561 | 10,097.561 | 10,097.561 | 10,097.561 | 91,309.9221 | 121,244.6292 |
| PSE: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,567.5 | 2,535.4062 | 2,536.2137 | 2,536.6048 | 2,625.3704 | 2,625.3655 | 2,625.3658 | 2,625.3659 | 2,625.3659 | 2,625.3659 | 2,625.3659 | 2,625.3659 | 2,625.3659 | 2,625.3659 | 2,625.3659 | 2,625.3659 | 30,975.7247 | 31,504.3944 |
| MKT: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | 1,777.5 | 1,755.2812 | 1,755.8402 | 1,756.111 | 1,817.5641 | 1,817.5608 | 1,817.5609 | 1,817.561 | 1,817.561 | 1,817.561 | 1,817.561 | 1,817.561 | 1,817.561 | 1,817.561 | 1,817.561 | 1,817.561 | 21,444.7325 | 21,810.7346 |
| DIR: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 9,950 | 9,900.25 | 9,900.7488 | 9,900.995 | 10,247.526 | 10,247.5247 | 10,247.5247 | 10,247.5248 | 10,247.5248 | 10,247.5248 | 10,247.5248 | 10,247.5248 | 10,247.5248 | 10,247.5248 | 10,247.5248 | 10,247.5248 | 119,651.9938 | 122,970.2982 |
| FIN: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 5,970 | 5,940.15 | 5,940.4492 | 5,940.597 | 6,148.5156 | 6,148.5148 | 6,148.5148 | 6,148.5149 | 6,148.5149 | 6,148.5149 | 6,148.5149 | 6,148.5149 | 6,148.5149 | 6,148.5149 | 6,148.5149 | 6,148.5149 | 71,791.1963 | 73,782.1789 |
| HR: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,691.5 | 1,683.0425 | 1,683.1273 | 1,683.1692 | 1,742.0794 | 1,742.0792 | 1,742.0792 | 1,742.0792 | 1,742.0792 | 1,742.0792 | 1,742.0792 | 1,742.0792 | 1,742.0792 | 1,742.0792 | 1,742.0792 | 1,742.0792 | 20,340.8389 | 20,904.9507 |
| PRC: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,587 | 2,574.065 | 2,574.1947 | 2,574.2587 | 2,664.3568 | 2,664.3564 | 2,664.3564 | 2,664.3564 | 2,664.3564 | 2,664.3564 | 2,664.3564 | 2,664.3564 | 2,664.3564 | 2,664.3564 | 2,664.3564 | 2,664.3564 | 31,109.5184 | 31,972.2775 |
| ADM: base salaries | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | headcount x monthly salary (+ pay review in 2027) | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | 1,144.25 | 1,138.5287 | 1,138.5861 | 1,138.6144 | 1,178.4655 | 1,178.4653 | 1,178.4653 | 1,178.4653 | 1,178.4653 | 1,178.4653 | 1,178.4653 | 1,178.4653 | 1,178.4653 | 1,178.4653 | 1,178.4653 | 1,178.4653 | 13,759.9793 | 14,141.5843 |
| L1: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.02% | 8.53% | 8.53% | 8.53% | 8.53% | 8.53% | 8.53% | 8.53% | 8.53% | 8.53% | 8.53% | 8.53% | 8.53% | 8.02% | 8.53% |
| L2: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.38% | 12.78% | 12.78% | 12.78% | 12.78% | 12.78% | 12.78% | 12.78% | 12.78% | 12.78% | 12.78% | 12.78% | 12.78% | 12.38% | 12.78% |
| L3: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 17.83% | 18.41% | 18.41% | 18.41% | 18.41% | 18.41% | 18.41% | 18.41% | 18.41% | 18.41% | 18.41% | 18.41% | 18.41% | 17.83% | 18.41% |
| FLD: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.23% | 9.73% |
| NOC: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.05% | 13.43% | 13.43% | 13.43% | 13.43% | 13.43% | 13.43% | 13.43% | 13.43% | 13.43% | 13.43% | 13.43% | 13.43% | 13.05% | 13.43% |
| SDM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 19.96% | 20.58% | 20.58% | 20.58% | 20.58% | 20.58% | 20.58% | 20.58% | 20.58% | 20.58% | 20.58% | 20.58% | 20.58% | 19.96% | 20.58% |
| PEN: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.24% | 16.87% | 16.87% | 16.87% | 16.87% | 16.87% | 16.87% | 16.87% | 16.87% | 16.87% | 16.87% | 16.87% | 16.87% | 16.24% | 16.87% |
| PM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.25% | 21.83% | 21.83% | 21.83% | 21.83% | 21.83% | 21.83% | 21.83% | 21.83% | 21.83% | 21.83% | 21.83% | 21.83% | 21.25% | 21.83% |
| SD: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 24.92% | 25.42% | 25.42% | 25.42% | 25.42% | 25.42% | 25.42% | 25.42% | 25.42% | 25.42% | 25.42% | 25.42% | 25.42% | 24.92% | 25.42% |
| AM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.07% | 15.61% |
| PSE: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 19.6% | 20.24% | 20.24% | 20.24% | 20.24% | 20.24% | 20.24% | 20.24% | 20.24% | 20.24% | 20.24% | 20.24% | 20.24% | 19.6% | 20.24% |
| MKT: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.36% | 13.89% | 13.89% | 13.89% | 13.89% | 13.89% | 13.89% | 13.89% | 13.89% | 13.89% | 13.89% | 13.89% | 13.89% | 13.36% | 13.89% |
| DIR: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.06% | 29.42% | 29.42% | 29.42% | 29.42% | 29.42% | 29.42% | 29.42% | 29.42% | 29.42% | 29.42% | 29.42% | 29.42% | 29.06% | 29.42% |
| FIN: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.07% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.61% | 15.07% | 15.61% |
| HR: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 12.73% | 13.11% | 13.11% | 13.11% | 13.11% | 13.11% | 13.11% | 13.11% | 13.11% | 13.11% | 13.11% | 13.11% | 13.11% | 12.73% | 13.11% |
| PRC: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.23% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.73% | 9.23% | 9.73% |
| ADM: IRS withholding rate | PAY BY BAND (forecast basis; actual months are memo, the payroll journal by department is used) | Tabela I on the monthly salary | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.46% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% | 7.46% | 7.91% |
| Service delivery: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 41 | 41 | 40 | 39 | 38 | 38 | 39 | 39 | 38.545 | 41.0953 | 43.0709 | 43.0181 | 44.9956 | 44.9732 | 45.9504 | 46.9392 | 46.9163 | 47.905 | 47.8938 | 47.8823 | 47.8826 | 47.8827 | 47.8827 | 47.8827 | 43.0181 | 47.8827 | |
| Service delivery: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 66,650 | 66,650 | 65,350 | 63,700 | 62,050 | 61,000 | 62,200 | 62,200 | 61,474.3333 | 65,257.1328 | 68,771.4662 | 68,686.333 | 74,102.1971 | 74,068.0869 | 75,275.3467 | 76,607.1599 | 76,577.5374 | 78,270.0952 | 78,250.6943 | 78,231.1741 | 78,231.6282 | 78,231.8506 | 78,231.8427 | 78,231.8402 | 773,989.2654 | 924,309.4535 |
| Service delivery: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 2,666 | 3,332.5 | 3,267.5 | 5,733 | 3,723 | 5,490 | 8,708 | 13,684 | 4,917.9467 | 3,262.8566 | 2,750.8586 | 6,181.77 | 2,964.0879 | 3,703.4043 | 3,763.7673 | 6,894.6444 | 4,594.6522 | 7,044.3086 | 10,955.0972 | 17,210.8583 | 6,258.5303 | 3,911.5925 | 3,129.2737 | 7,040.8656 | 63,717.4319 | 77,471.0824 |
| Service delivery: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 5,554.1667 | 5,554.1667 | 5,445.8333 | 5,308.3333 | 5,170.8333 | 5,083.3333 | 5,183.3333 | 5,183.3333 | 5,122.8611 | 5,438.0944 | 5,730.9555 | 5,723.8611 | 6,175.1831 | 6,172.3406 | 6,272.9456 | 6,383.93 | 6,381.4615 | 6,522.5079 | 6,520.8912 | 6,519.2645 | 6,519.3024 | 6,519.3209 | 6,519.3202 | 6,519.32 | 64,499.1054 | 77,025.7878 |
| Service delivery: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 11,108.3333 | 11,108.3333 | 10,891.6667 | 10,616.6667 | 10,341.6667 | 10,166.6667 | 10,366.6667 | 10,366.6667 | 10,245.7222 | 10,876.1888 | 11,461.911 | 11,447.7222 | 12,350.3662 | 12,344.6811 | 12,545.8911 | 12,767.86 | 12,762.9229 | 13,045.0159 | 13,041.7824 | 13,038.529 | 13,038.6047 | 13,038.6418 | 13,038.6405 | 13,038.64 | 128,998.2109 | 154,051.5756 |
| Service delivery: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 61,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78,270.0952 | 0 | 0 | 0 | 0 | 0 | 0 | 61,000 | 78,270.0952 |
| Service delivery: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64,506.1999 | -7.0944 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77,025.788 | -0.0002 | 64,499.1054 | 77,025.7878 |
| Service delivery: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 66,650 | 66,650 | 65,350 | 63,700 | 62,050 | 122,000 | 62,200 | 62,200 | 61,474.3333 | 65,257.1328 | 133,277.6661 | 68,679.2386 | 74,102.1971 | 74,068.0869 | 75,275.3467 | 76,607.1599 | 76,577.5374 | 156,540.1904 | 78,250.6943 | 78,231.1741 | 78,231.6282 | 78,231.8506 | 155,257.6307 | 78,231.84 | 899,488.3708 | 1,079,605.3364 | |
| Service delivery: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 15,829.38 | 15,829.38 | 15,520.62 | 15,128.75 | 14,736.88 | 28,975 | 14,772.5 | 14,772.5 | 14,600.1542 | 15,498.569 | 31,653.4457 | 16,311.3192 | 17,599.2718 | 17,591.1706 | 17,877.8948 | 18,194.2005 | 18,187.1651 | 37,178.2952 | 18,584.5399 | 18,579.9039 | 18,580.0117 | 18,580.0645 | 36,873.6873 | 18,580.062 | 213,628.4981 | 256,406.2674 |
| Service delivery: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 7,331.5 | 7,331.5 | 7,188.5 | 7,007 | 6,825.5 | 13,420 | 6,842 | 6,842 | 6,762.1767 | 7,178.2846 | 14,660.5433 | 7,554.7162 | 8,151.2417 | 8,147.4896 | 8,280.2881 | 8,426.7876 | 8,423.5291 | 17,219.4209 | 8,607.5764 | 8,605.4292 | 8,605.4791 | 8,605.5036 | 17,078.3394 | 8,605.5024 | 98,943.7208 | 118,756.587 |
| Service delivery: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 8,583.08 | 8,583.08 | 8,463.11 | 8,258.79 | 8,054.47 | 15,510.96 | 7,851.7 | 7,851.7 | 7,760.0968 | 8,174.4224 | 16,832.9713 | 8,674.1409 | 9,670.1998 | 9,666.3348 | 9,768.3714 | 9,898.1616 | 9,895.4569 | 20,224.424 | 10,109.7147 | 10,107.2151 | 10,107.2734 | 10,107.3019 | 20,058.7833 | 10,107.3005 | 114,598.5215 | 139,720.5373 |
| Service delivery: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 8,249.2 | 8,159 | 7,960 | 7,417.8 | 7,478.4 | 7,227.6 | 6,988.8 | 6,302.4 | 7,416.058 | 8,177.9664 | 8,665.8576 | 8,182.0353 | 9,053.1206 | 8,949.6615 | 9,144.1224 | 8,927.8407 | 9,233.1255 | 9,111.5346 | 8,582.5603 | 7,737.7874 | 9,212.6146 | 9,528.6657 | 9,634.0068 | 9,107.2964 | 92,225.1173 | 108,222.3365 |
| Service delivery: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 2,011.83 | 2,011.83 | 1,966.17 | 1,916.85 | 1,867.53 | 1,856.5 | 1,901.1 | 1,901.1 | 1,878.9205 | 2,000.2498 | 2,100.368 | 2,097.7845 | 2,253.9297 | 2,252.835 | 2,297.5631 | 2,343.9818 | 2,342.9184 | 2,393.1206 | 2,392.5473 | 2,391.9683 | 2,391.9818 | 2,391.9884 | 2,391.9881 | 2,391.9881 | 23,510.2327 | 28,236.8106 |
| Service delivery: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 50,735.42 | 50,735.42 | 49,698.39 | 48,434.21 | 47,170.03 | 93,069.04 | 47,506.3 | 47,506.3 | 46,952.0598 | 49,904.4258 | 101,784.1515 | 52,450.3814 | 56,280.7556 | 56,254.2626 | 57,226.6872 | 58,282.2108 | 58,258.5514 | 119,096.3454 | 59,533.4032 | 59,518.5299 | 59,518.8757 | 59,519.0452 | 118,120.5081 | 59,519.0371 | 685,946.1285 | 821,128.2121 |
| Service delivery: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 6,873.2812 | 13,746.5625 | 20,485.7812 | 27,054.8438 | 33,453.75 | 39,744.375 | 46,158.75 | 52,573.125 | 58,912.6656 | 65,642.3074 | -7,092.0575 | 0 | 7,641.7891 | 15,280.0605 | 23,042.8307 | 30,942.944 | 38,840.0026 | 46,911.6061 | 54,981.209 | 63,048.7988 | 71,116.4355 | 79,184.0951 | -8,067.6588 | 0 | 0 | 0 |
| Service delivery: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,793.2241 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,793.2241 | 0 |
| Service delivery: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 110,061.0737 | 109,146.08 | 106,970.92 | 100,776 | 100,722.3112 | 96,649.6 | 94,329.375 | 87,485.175 | 98,302.1289 | 107,085.0583 | 113,742.8999 | 114,672.2748 | 122,265.8276 | 121,193.6056 | 123,225.5753 | 121,241.4005 | 124,346.0399 | 123,861.3769 | 118,462.2175 | 109,845.166 | 124,874.215 | 128,094.9523 | 129,168.4005 | 123,801.0911 | 1,239,942.8969 | 1,470,379.8684 |
| Projects: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 12.8917 | 12.7842 | 12.786 | 12.7869 | 13.7869 | 13.7786 | 13.7703 | 13.7704 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 13.7705 | 12.7869 | 13.7705 | |
| Projects: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 27,200 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,105.4167 | 28,862.8715 | 28,866.9309 | 28,868.9183 | 32,104.5283 | 32,085.9678 | 32,067.5792 | 32,067.8871 | 32,068.0378 | 32,068.034 | 32,068.0327 | 32,068.0328 | 32,068.0328 | 32,068.0328 | 32,068.0328 | 32,068.0328 | 348,354.1374 | 384,870.2309 |
| Projects: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 1,088 | 1,467.5 | 1,467.5 | 2,641.5 | 1,761 | 2,641.5 | 4,109 | 6,457 | 2,328.4333 | 1,443.1436 | 1,154.6772 | 2,598.2026 | 1,284.1811 | 1,604.2984 | 1,603.379 | 2,886.1098 | 1,924.0823 | 2,886.1231 | 4,489.5246 | 7,054.9672 | 2,565.4426 | 1,603.4016 | 1,282.7213 | 2,886.123 | 29,157.4568 | 32,070.354 |
| Projects: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 2,266.6667 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,445.8333 | 2,425.4514 | 2,405.2393 | 2,405.5776 | 2,405.7432 | 2,675.3774 | 2,673.8307 | 2,672.2983 | 2,672.3239 | 2,672.3365 | 2,672.3362 | 2,672.3361 | 2,672.3361 | 2,672.3361 | 2,672.3361 | 2,672.3361 | 2,672.3361 | 29,029.5115 | 32,072.5192 |
| Projects: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 4,533.3333 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,891.6667 | 4,850.9028 | 4,810.4786 | 4,811.1552 | 4,811.4864 | 5,350.7547 | 5,347.6613 | 5,344.5965 | 5,344.6479 | 5,344.673 | 5,344.6723 | 5,344.6721 | 5,344.6721 | 5,344.6721 | 5,344.6721 | 5,344.6721 | 5,344.6721 | 58,059.0229 | 64,145.0385 |
| Projects: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 29,350 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32,068.034 | 0 | 0 | 0 | 0 | 0 | 0 | 29,350 | 32,068.034 |
| Projects: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29,029.3458 | 0.1656 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32,072.5192 | 0 | 29,029.5115 | 32,072.5192 |
| Projects: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 27,200 | 29,350 | 29,350 | 29,350 | 29,350 | 58,700 | 29,350 | 29,350 | 29,105.4167 | 28,862.8715 | 57,896.2768 | 28,869.0839 | 32,104.5283 | 32,085.9678 | 32,067.5792 | 32,067.8871 | 32,068.0378 | 64,136.0679 | 32,068.0327 | 32,068.0328 | 32,068.0328 | 32,068.0328 | 64,140.552 | 32,068.0328 | 406,733.6489 | 449,010.784 | |
| Projects: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 6,460 | 6,970.62 | 6,970.62 | 6,970.62 | 6,970.62 | 13,941.25 | 6,970.62 | 6,970.62 | 6,912.5365 | 6,854.932 | 13,750.3657 | 6,856.4074 | 7,624.8255 | 7,620.4174 | 7,616.0501 | 7,616.1232 | 7,616.159 | 15,232.3161 | 7,616.1578 | 7,616.1578 | 7,616.1578 | 7,616.1578 | 15,233.3811 | 7,616.1578 | 96,599.2116 | 106,640.0612 |
| Projects: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 2,992 | 3,228.5 | 3,228.5 | 3,228.5 | 3,228.5 | 6,457 | 3,228.5 | 3,228.5 | 3,201.5958 | 3,174.9159 | 6,368.5904 | 3,175.5992 | 3,531.4981 | 3,529.4565 | 3,527.4337 | 3,527.4676 | 3,527.4842 | 7,054.9675 | 3,527.4836 | 3,527.4836 | 3,527.4836 | 3,527.4836 | 7,055.4607 | 3,527.4836 | 44,740.7014 | 49,391.1862 |
| Projects: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 4,702.8 | 5,051.96 | 5,051.96 | 5,051.96 | 5,051.96 | 10,103.92 | 5,051.96 | 5,051.96 | 5,009.8603 | 4,968.1115 | 9,965.5766 | 4,969.1808 | 5,703.9887 | 5,700.8572 | 5,697.7548 | 5,697.8068 | 5,697.8322 | 11,395.6631 | 5,697.8313 | 5,697.8313 | 5,697.8313 | 5,697.8313 | 11,396.4598 | 5,697.8313 | 70,031.2093 | 79,779.5192 |
| Projects: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 2,414.4 | 2,587 | 2,587 | 2,472.6 | 2,558.4 | 2,472.6 | 2,329.6 | 2,100.8 | 2,480.3567 | 2,544.063 | 2,572.5501 | 2,432.0711 | 2,773.9227 | 2,741.9318 | 2,740.2873 | 2,619.1351 | 2,710.0332 | 2,619.1476 | 2,467.6721 | 2,225.3115 | 2,649.4426 | 2,740.3279 | 2,770.623 | 2,619.1475 | 29,551.4408 | 31,676.9823 |
| Projects: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 669.6 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 718.1402 | 712.1557 | 712.2559 | 712.3049 | 789.3076 | 788.8392 | 788.375 | 788.3828 | 788.3866 | 788.3865 | 788.3865 | 788.3865 | 788.3865 | 788.3865 | 788.3865 | 788.3865 | 8,593.7167 | 9,461.9965 |
| Projects: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 19,505.2 | 21,069.54 | 21,069.54 | 21,069.54 | 21,069.54 | 42,139.08 | 21,069.54 | 21,069.54 | 20,893.9605 | 20,719.8442 | 41,562.1097 | 20,724.3039 | 22,869.0415 | 22,855.6542 | 22,842.3907 | 22,842.6128 | 22,842.7214 | 45,685.4374 | 22,842.7178 | 22,842.7178 | 22,842.7178 | 22,842.7178 | 45,688.6315 | 22,842.7178 | 291,961.7382 | 319,840.0786 |
| Projects: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 2,805 | 5,831.7188 | 8,858.4375 | 11,885.1562 | 14,911.875 | 17,938.5938 | 20,965.3125 | 23,992.0312 | 26,993.5273 | 29,970.011 | -2,976.9023 | 0 | 3,310.7795 | 6,619.6449 | 9,926.614 | 13,233.6149 | 16,540.6313 | 19,847.6473 | 23,154.6632 | 26,461.679 | 29,768.6949 | 33,075.7108 | -3,307.0159 | 0 | 0 | 0 |
| Projects: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,434.8965 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,434.8965 | 0 |
| Projects: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 43,812.6 | 46,895.93 | 46,895.93 | 45,328.705 | 46,504.1237 | 45,328.705 | 43,369.6738 | 40,235.2237 | 45,339.502 | 46,117.5829 | 46,509.4266 | 47,020.6048 | 51,635.7484 | 51,178.4332 | 51,149.0174 | 49,440.9698 | 50,722.614 | 49,441.1969 | 47,305.5101 | 43,888.4142 | 49,868.3321 | 51,149.743 | 51,576.88 | 49,441.1951 | 543,358.0076 | 596,798.0542 |
| Sales and marketing: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 6.9125 | 6.8261 | 6.8283 | 6.8293 | 7.8293 | 7.8168 | 7.8044 | 7.8047 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 7.8049 | 6.8293 | 7.8049 | |
| Sales and marketing: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 14,000 | 14,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 15,800 | 15,602.5 | 15,607.4688 | 15,609.8754 | 18,226.1256 | 18,200.2207 | 18,174.6707 | 18,175.3139 | 18,175.6252 | 18,175.6133 | 18,175.6095 | 18,175.6097 | 18,175.6098 | 18,175.6098 | 18,175.6098 | 18,175.6098 | 186,619.8441 | 218,181.2275 |
| Sales and marketing: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 560 | 700 | 800 | 1,440 | 960 | 1,440 | 2,240 | 3,520 | 1,264 | 780.125 | 624.2988 | 1,404.8888 | 729.045 | 910.011 | 908.7335 | 1,635.7782 | 1,090.5375 | 1,635.8052 | 2,544.5853 | 3,998.6341 | 1,454.0488 | 908.7805 | 727.0244 | 1,635.8049 | 15,733.3125 | 18,178.7886 |
| Sales and marketing: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 1,166.6667 | 1,166.6667 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,333.3333 | 1,316.6667 | 1,300.2083 | 1,300.6224 | 1,300.8229 | 1,518.8438 | 1,516.6851 | 1,514.5559 | 1,514.6095 | 1,514.6354 | 1,514.6344 | 1,514.6341 | 1,514.6341 | 1,514.6341 | 1,514.6341 | 1,514.6341 | 1,514.6341 | 15,551.6537 | 18,181.769 |
| Sales and marketing: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 2,333.3333 | 2,333.3333 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,666.6667 | 2,633.3333 | 2,600.4167 | 2,601.2448 | 2,601.6459 | 3,037.6876 | 3,033.3701 | 3,029.1118 | 3,029.219 | 3,029.2709 | 3,029.2689 | 3,029.2683 | 3,029.2683 | 3,029.2683 | 3,029.2683 | 3,029.2683 | 3,029.2683 | 31,103.3074 | 36,363.5379 |
| Sales and marketing: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 16,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18,175.6133 | 0 | 0 | 0 | 0 | 0 | 0 | 16,000 | 18,175.6133 |
| Sales and marketing: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15,551.4531 | 0.2006 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18,181.769 | 0 | 15,551.6537 | 18,181.769 |
| Sales and marketing: commissions paid (earned the month before) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: prior month commissions | 1,104.84 | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 461.01 | 1,077.2362 | 1,168.5274 | 14,060.6558 | 894.6538 | 4,285.2826 | 4,565.879 | 958.5576 | 3,429.3864 | 912.912 | 1,022.4614 | 839.879 | 547.7472 | 1,077.2362 | 1,168.5274 | 976.8158 | 34,912.3294 | 20,679.3384 |
| Sales and marketing: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 15,104.84 | 14,730.98 | 16,762.39 | 20,644.48 | 16,765.81 | 35,870.36 | 16,899.64 | 21,366.4 | 16,261.01 | 16,679.7362 | 32,327.4492 | 29,670.7318 | 19,120.7794 | 22,485.5032 | 22,740.5497 | 19,133.8715 | 21,605.0116 | 37,264.1385 | 19,198.071 | 19,015.4888 | 18,723.357 | 19,252.8459 | 37,525.9061 | 19,152.4256 | 253,083.8272 | 275,217.9481 | |
| Sales and marketing: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 3,587.4 | 3,498.61 | 3,981.07 | 4,903.06 | 3,981.88 | 8,519.21 | 4,013.66 | 5,074.52 | 3,861.9899 | 3,961.4373 | 7,677.7692 | 7,046.7988 | 4,541.1851 | 5,340.307 | 5,400.8806 | 4,544.2945 | 5,131.1903 | 8,850.2329 | 4,559.5419 | 4,516.1786 | 4,446.7973 | 4,572.5509 | 8,912.4027 | 4,548.7011 | 60,107.4052 | 65,364.2627 |
| Sales and marketing: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 1,661.53 | 1,620.41 | 1,843.86 | 2,270.89 | 1,844.24 | 3,945.74 | 1,858.96 | 2,350.3 | 1,788.7111 | 1,834.771 | 3,556.0194 | 3,263.7805 | 2,103.2857 | 2,473.4054 | 2,501.4605 | 2,104.7259 | 2,376.5513 | 4,099.0552 | 2,111.7878 | 2,091.7038 | 2,059.5693 | 2,117.8131 | 4,127.8497 | 2,106.7668 | 27,839.212 | 30,273.9743 |
| Sales and marketing: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 2,717.88 | 2,661.55 | 2,967.62 | 3,552.53 | 2,968.13 | 6,288.65 | 2,988.3 | 3,661.31 | 2,886.551 | 2,944.1842 | 5,731.6004 | 4,901.7468 | 3,426.7029 | 3,933.5245 | 3,971.8139 | 3,428.3992 | 3,800.7276 | 6,705.5886 | 3,438.0737 | 3,410.5641 | 3,366.5486 | 3,446.3267 | 6,745.2139 | 3,431.1964 | 44,270.0524 | 49,104.68 |
| Sales and marketing: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 1,207.2 | 1,194 | 1,393 | 1,331.4 | 1,377.6 | 1,331.4 | 1,254.4 | 1,131.2 | 1,329.965 | 1,358.3927 | 1,373.8474 | 1,298.9368 | 1,575.2512 | 1,555.5367 | 1,553.0805 | 1,484.4606 | 1,536.0015 | 1,484.4881 | 1,398.6341 | 1,261.2683 | 1,501.6585 | 1,553.1707 | 1,570.3415 | 1,484.4878 | 15,581.3418 | 17,958.3795 |
| Sales and marketing: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 339 | 339 | 392 | 392 | 392 | 392 | 392 | 392 | 387.1 | 382.2613 | 382.383 | 382.4419 | 448.1747 | 447.4923 | 446.8192 | 446.8361 | 446.8443 | 446.844 | 446.8439 | 446.8439 | 446.8439 | 446.8439 | 446.8439 | 446.8439 | 4,564.1862 | 5,364.074 |
| Sales and marketing: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 10,725.43 | 10,449.03 | 11,950.91 | 14,821.05 | 11,953.44 | 25,635.97 | 12,052.38 | 15,354.79 | 11,585.7479 | 11,900.781 | 23,039.8294 | 21,505.2045 | 13,590.7908 | 16,078.5733 | 16,267.2753 | 13,600.7464 | 15,427.7327 | 26,459.4947 | 13,648.2094 | 13,513.2209 | 13,297.2391 | 13,688.7062 | 26,652.8425 | 13,614.4624 | 180,974.5628 | 195,839.2938 |
| Sales and marketing: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 1,443.75 | 2,887.5 | 4,537.5 | 6,187.5 | 7,837.5 | 9,487.5 | 11,137.5 | 12,787.5 | 14,416.875 | 16,025.8828 | -1,609.5202 | 0 | 1,879.5692 | 3,756.467 | 5,630.7299 | 7,505.0591 | 9,379.4205 | 11,253.7806 | 13,128.1403 | 15,002.5001 | 16,876.8598 | 18,751.2196 | -1,874.3598 | 0 | 0 | 0 |
| Sales and marketing: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,316.5866 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,316.5866 | 0 |
| Sales and marketing: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 22,509.45 | 22,323 | 25,545 | 24,691.4 | 25,331.6 | 24,691.4 | 23,624.4 | 21,917.2 | 24,593.49 | 24,910.3664 | 25,126.4639 | 25,405.9414 | 29,314.7707 | 29,030.3567 | 28,989.2856 | 28,021.9598 | 28,748.7258 | 28,022.425 | 26,811.9496 | 24,875.1987 | 28,264.5134 | 28,990.7951 | 29,232.889 | 28,022.4195 | 290,669.7118 | 338,325.289 |
| General and administrative: headcount | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 8.955 | 8.9102 | 8.9107 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | 8.9109 | |
| General and administrative: base salaries paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: bands | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,342.75 | 21,236.0363 | 21,237.1061 | 21,237.6343 | 21,980.9432 | 21,980.9405 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 256,653.5266 | 263,771.2897 |
| General and administrative: pay for holidays taken (released from the accrual) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x share of holidays taken | 858 | 1,072.5 | 1,072.5 | 1,930.5 | 1,287 | 1,930.5 | 3,003 | 4,719 | 1,707.42 | 1,061.8018 | 849.4842 | 1,911.3871 | 879.2377 | 1,099.047 | 1,099.047 | 1,978.2847 | 1,318.8564 | 1,978.2847 | 3,077.3317 | 4,835.8069 | 1,758.4752 | 1,099.047 | 879.2376 | 1,978.2847 | 21,403.0931 | 21,980.9407 |
| General and administrative: Christmas allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base / 12 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,787.5 | 1,778.5625 | 1,769.6697 | 1,769.7588 | 1,769.8029 | 1,831.7453 | 1,831.745 | 1,831.745 | 1,831.745 | 1,831.745 | 1,831.745 | 1,831.745 | 1,831.745 | 1,831.745 | 1,831.745 | 1,831.745 | 1,831.745 | 21,387.7939 | 21,980.9408 |
| General and administrative: holiday pay and holiday allowance accrued | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | base x 2 / 12 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,575 | 3,557.125 | 3,539.3394 | 3,539.5177 | 3,539.6057 | 3,663.4905 | 3,663.4901 | 3,663.4901 | 3,663.4901 | 3,663.4901 | 3,663.4901 | 3,663.4901 | 3,663.4901 | 3,663.4901 | 3,663.4901 | 3,663.4901 | 3,663.4901 | 42,775.5878 | 43,961.8816 |
| General and administrative: holiday allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: one month of salary in June | 0 | 0 | 0 | 0 | 0 | 21,450 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,980.9406 | 0 | 0 | 0 | 0 | 0 | 0 | 21,450 | 21,980.9406 |
| General and administrative: Christmas allowance paid | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: November = accrued + December; December true-up | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,387.7499 | 0.044 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,980.9408 | 0 | 21,387.7939 | 21,980.9408 |
| General and administrative: remuneration paid (TSU and IRS base) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 42,900 | 21,450 | 21,450 | 21,342.75 | 21,236.0363 | 42,624.8559 | 21,237.6783 | 21,980.9432 | 21,980.9405 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 43,961.8812 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 21,980.9406 | 43,961.8814 | 21,980.9406 | 299,491.3205 | 307,733.1711 | |
| General and administrative: employer social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 23.75% | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 10,188.75 | 5,094.38 | 5,094.38 | 5,068.9031 | 5,043.5586 | 10,123.4033 | 5,043.9486 | 5,220.474 | 5,220.4734 | 5,220.4734 | 5,220.4734 | 5,220.4734 | 10,440.9468 | 5,220.4734 | 5,220.4734 | 5,220.4734 | 5,220.4734 | 10,440.9468 | 5,220.4734 | 71,129.2236 | 73,086.6281 |
| General and administrative: employee social security (TSU) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration x 11% | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 4,719 | 2,359.5 | 2,359.5 | 2,347.7025 | 2,335.964 | 4,688.7342 | 2,336.1446 | 2,417.9038 | 2,417.9035 | 2,417.9035 | 2,417.9035 | 2,417.9035 | 4,835.8069 | 2,417.9035 | 2,417.9035 | 2,417.9035 | 2,417.9035 | 4,835.807 | 2,417.9035 | 32,944.0453 | 33,850.6488 |
| General and administrative: IRS withheld | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: band rates x remuneration | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 8,703.86 | 4,351.93 | 4,351.93 | 4,330.1704 | 4,308.5195 | 8,648.0368 | 4,308.8527 | 4,555.1872 | 4,555.1866 | 4,555.1866 | 4,555.1866 | 4,555.1866 | 9,110.3733 | 4,555.1866 | 4,555.1866 | 4,555.1866 | 4,555.1866 | 9,110.3733 | 4,555.1866 | 60,762.9493 | 63,772.6134 |
| General and administrative: meal allowance (card, working days) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: headcount x daily rate x days worked | 1,810.8 | 1,791 | 1,791 | 1,711.8 | 1,771.2 | 1,711.8 | 1,612.8 | 1,454.4 | 1,722.942 | 1,773.1348 | 1,792.8276 | 1,694.8523 | 1,792.8715 | 1,773.2673 | 1,773.2673 | 1,694.8515 | 1,753.6634 | 1,694.8515 | 1,596.8317 | 1,440 | 1,714.4554 | 1,773.2673 | 1,792.8713 | 1,694.8515 | 20,638.5567 | 20,495.0497 |
| General and administrative: work accident and health insurance | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: health per head + work accident rate x pay | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 510.6589 | 508.1056 | 508.1312 | 508.1438 | 523.0772 | 523.0771 | 523.0771 | 523.0771 | 523.0771 | 523.0771 | 523.0771 | 523.0771 | 523.0771 | 523.0771 | 523.0771 | 523.0771 | 6,140.8794 | 6,276.9253 |
| General and administrative: net pay | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | A: payroll; F: remuneration - employee TSU - IRS | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 29,477.14 | 14,738.57 | 14,738.57 | 14,664.8772 | 14,591.5528 | 29,288.085 | 14,592.681 | 15,007.8523 | 15,007.8504 | 15,007.8505 | 15,007.8505 | 15,007.8505 | 30,015.701 | 15,007.8505 | 15,007.8505 | 15,007.8505 | 15,007.8505 | 30,015.7011 | 15,007.8505 | 205,784.3259 | 210,109.9088 |
| General and administrative: Christmas allowance accrued, incl. TSU (liability) | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | opening + accrued - paid | 2,212.0312 | 4,424.0625 | 6,636.0938 | 8,848.125 | 11,060.1562 | 13,272.1875 | 15,484.2188 | 17,696.25 | 19,897.2211 | 22,087.1873 | -2,190.0766 | 0 | 2,266.7848 | 4,533.5693 | 6,800.3538 | 9,067.1383 | 11,333.9228 | 13,600.7073 | 15,867.4918 | 18,134.2763 | 20,401.0608 | 22,667.8453 | -2,266.7845 | 0 | 0 | 0 |
| General and administrative: revaluation of the holiday accrual for the pay review | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | by share of base salaries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,791.2497 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,791.2497 | 0 |
| General and administrative: PAYROLL COST | PAYROLL BY DEPARTMENT (A: payroll journal; F: bands) | (base - holidays taken + accruals) x (1 + TSU) + meal + insurance | 34,442.7237 | 34,157.48 | 34,157.48 | 33,016.505 | 33,872.2363 | 33,016.505 | 31,590.2863 | 29,308.3363 | 33,135.235 | 33,816.7542 | 34,100.8705 | 34,480.8699 | 35,229.6635 | 34,938.0411 | 34,938.0412 | 33,771.5688 | 34,646.4231 | 33,771.5688 | 32,313.4783 | 29,980.5335 | 34,063.1869 | 34,938.0412 | 35,229.6593 | 33,771.5688 | 399,095.2821 | 407,591.7746 |
| Base salaries paid, all departments | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | 129,300 | 131,450 | 132,150 | 130,500 | 128,850 | 127,800 | 129,000 | 129,000 | 127,722.5 | 130,958.5406 | 134,482.972 | 134,402.761 | 146,413.7942 | 146,335.2159 | 147,498.5371 | 148,831.3015 | 148,802.141 | 150,494.683 | 150,475.2771 | 150,455.7572 | 150,456.2113 | 150,456.4338 | 150,456.4259 | 150,456.4234 | 1,565,616.7735 | 1,791,132.2015 | |
| Accrued in the month | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | base x 2 / 12 x (1 + TSU) | 26,668.125 | 27,111.5625 | 27,255.9375 | 26,915.625 | 26,575.3125 | 26,358.75 | 26,606.25 | 26,606.25 | 26,342.7656 | 27,010.199 | 27,737.113 | 27,720.5695 | 30,197.8451 | 30,181.6383 | 30,421.5733 | 30,696.4559 | 30,690.4416 | 31,039.5284 | 31,035.5259 | 31,031.4999 | 31,031.5936 | 31,031.6395 | 31,031.6378 | 31,031.6373 | 322,908.4595 | 369,421.0166 |
| Released: holidays taken and the holiday allowance paid | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | -6,400.35 | -8,133.4688 | -8,176.7812 | -14,534.4375 | -9,567.1125 | -172,386.225 | -22,349.25 | -35,120.25 | -12,644.5275 | -8,103.0597 | -6,656.9071 | -14,969.1075 | -7,247.4828 | -9,054.4915 | -9,126.472 | -16,576.0862 | -11,048.559 | -202,998.5155 | -26,069.8418 | -40,961.5799 | -14,895.1649 | -9,309.4918 | -7,447.5931 | -16,757.0842 | -319,041.4768 | -371,492.3627 | |
| Revaluation in December 2026 for the January 2027 pay review | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | balance x pay review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11,335.9569 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11,335.9569 | 0 |
| HOLIDAY PAY AND ALLOWANCE ACCRUED (liability) | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | opening + accrued - released + revaluation | 340,285.275 | 359,263.3688 | 378,342.525 | 390,723.7125 | 407,731.9125 | 261,704.4375 | 265,961.4375 | 257,447.4375 | 271,145.6756 | 290,052.8149 | 311,133.0208 | 335,220.4396 | 358,170.8019 | 379,297.9487 | 400,593.05 | 414,713.4197 | 434,355.3023 | 262,396.3151 | 267,361.9993 | 257,431.9193 | 273,568.348 | 295,290.4956 | 318,874.5403 | 333,149.0935 | 335,220.4396 | 333,149.0935 |
| CHRISTMAS ALLOWANCE ACCRUED (liability, nil after the December payroll) | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | 13,334.0625 | 26,889.8438 | 40,517.8125 | 53,975.625 | 67,263.2812 | 80,442.6562 | 93,745.7812 | 107,048.9062 | 120,220.2891 | 133,725.3886 | -13,868.5565 | 0 | 15,098.9225 | 30,189.7417 | 45,400.5283 | 60,748.7563 | 76,093.9771 | 91,613.7413 | 107,131.5042 | 122,647.2542 | 138,163.051 | 153,678.8707 | -15,515.8189 | 0 | 0 | 0 | |
| Check: Christmas accrual is nil in December (must be zero) | HOLIDAY PAY AND HOLIDAY ALLOWANCE ACCRUED (22 days and the allowance vest each 1 January for the work of the prior year; incl. TSU) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Commissions earned | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | A: statements; F: rate x first-year fees of new contracts + rate x hardware margin | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 461.01 | 1,077.2362 | 1,168.5274 | 14,060.6558 | 894.6538 | 4,285.2826 | 4,565.879 | 958.5576 | 3,429.3864 | 912.912 | 1,022.4614 | 839.879 | 547.7472 | 1,077.2362 | 1,168.5274 | 976.8158 | 894.6538 | 34,702.1431 | 20,679.3384 |
| of which on new managed service contracts | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | rate x first-year fees | 0 | 0 | 3,784.32 | 0 | 3,049.92 | 0 | 4,613.76 | 0 | 0 | 0 | 13,083.84 | 0 | 3,481.92 | 3,726 | 0 | 2,562.12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24,531.84 | 9,770.04 |
| of which on hardware margin | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 730.98 | 762.39 | 860.16 | 765.81 | 820.44 | 899.64 | 752.64 | 461.01 | 1,077.2362 | 1,168.5274 | 976.8158 | 894.6538 | 803.3626 | 839.879 | 958.5576 | 867.2664 | 912.912 | 1,022.4614 | 839.879 | 547.7472 | 1,077.2362 | 1,168.5274 | 976.8158 | 894.6538 | 10,170.3031 | 10,909.2984 | |
| Contract costs capitalised (commission on new contracts and its TSU) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 0 | 0 | 4,683.096 | 0 | 3,774.276 | 0 | 5,709.528 | 0 | 0 | 0 | 16,191.252 | 0 | 4,308.876 | 4,610.925 | 0 | 3,170.6235 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30,358.152 | 12,090.4245 | |
| Amortisation of contract costs (36 months from the contract start) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 0 | 0 | 130.086 | 130.086 | 234.927 | 234.927 | 393.525 | 393.525 | 393.525 | 393.525 | 843.282 | 843.282 | 962.973 | 1,091.0542 | 1,091.0542 | 1,179.1271 | 1,179.1271 | 1,179.1271 | 1,179.1271 | 1,179.1271 | 1,179.1271 | 1,179.1271 | 1,179.1271 | 1,179.1271 | 3,990.69 | 13,757.2256 | |
| CONTRACT COSTS: CAPITALISED COMMISSIONS (asset) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | opening + capitalised - amortised | 0 | 0 | 4,553.01 | 4,422.924 | 7,962.273 | 7,727.346 | 13,043.349 | 12,649.824 | 12,256.299 | 11,862.774 | 27,210.744 | 26,367.462 | 29,713.365 | 33,233.2357 | 32,142.1815 | 34,133.6779 | 32,954.5508 | 31,775.4236 | 30,596.2965 | 29,417.1694 | 28,238.0422 | 27,058.9151 | 25,879.788 | 24,700.6609 | 26,367.462 | 24,700.6609 |
| COMMISSION COST IN SALES AND MARKETING (hardware commission incl. TSU + amortisation of contract costs) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 904.5878 | 943.4576 | 1,194.534 | 1,077.7759 | 1,250.2215 | 1,348.2315 | 1,324.917 | 964.0249 | 1,726.6047 | 1,839.5776 | 2,052.0916 | 1,950.416 | 1,957.1342 | 2,130.4046 | 2,277.2693 | 2,252.3693 | 2,308.8557 | 2,444.4232 | 2,218.4774 | 1,856.9643 | 2,512.2069 | 2,625.1797 | 2,387.9367 | 2,286.2612 | 16,576.4401 | 27,257.4824 | |
| Commissions payable, incl. TSU (paid with the next payroll) | COMMISSIONS (account managers and the sales director): on new contracts capitalised and amortised over 36 months (IFRS 15.91 and 99); on hardware expensed | 904.5878 | 943.4576 | 5,747.544 | 947.6899 | 4,789.5705 | 1,113.3045 | 6,640.92 | 570.4999 | 1,333.0797 | 1,446.0526 | 17,400.0616 | 1,107.134 | 5,303.0372 | 5,650.2753 | 1,186.215 | 4,243.8657 | 1,129.7286 | 1,265.296 | 1,039.3503 | 677.8372 | 1,333.0797 | 1,446.0526 | 1,208.8096 | 1,107.134 | 1,107.134 | 1,107.134 | |
| Social security due for the month (employer and employee) | PAYROLL LIABILITIES AND PAYMENTS | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,543.7697 | 45,882.4324 | 92,478.8712 | 51,588.7146 | 51,189.6857 | 52,340.6232 | 52,842.3846 | 52,051.976 | 52,900.4558 | 104,911.0416 | 52,645.4642 | 52,575.2336 | 52,473.8756 | 52,657.9503 | 104,557.8747 | 52,623.0506 | 645,932.0179 | 733,769.6158 | |
| Social security paid (20th of the following month) | PAYROLL LIABILITIES AND PAYMENTS | A: bank; F: prior month | 44,038.67 | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,543.7697 | 45,882.4324 | 92,478.8712 | 51,588.7146 | 51,189.6857 | 52,340.6232 | 52,842.3846 | 52,051.976 | 52,900.4558 | 104,911.0416 | 52,645.4642 | 52,575.2336 | 52,473.8756 | 52,657.9503 | 104,557.8747 | 638,381.9733 | 732,735.2798 |
| SOCIAL SECURITY PAYABLE | PAYROLL LIABILITIES AND PAYMENTS | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 46,692.32 | 44,543.7697 | 45,882.4324 | 92,478.8712 | 51,588.7146 | 51,189.6857 | 52,340.6232 | 52,842.3846 | 52,051.976 | 52,900.4558 | 104,911.0416 | 52,645.4642 | 52,575.2336 | 52,473.8756 | 52,657.9503 | 104,557.8747 | 52,623.0506 | 51,588.7146 | 52,623.0506 | |
| IRS withheld in the month | PAYROLL LIABILITIES AND PAYMENTS | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 19,986.6785 | 20,395.2375 | 41,178.1852 | 22,853.9212 | 23,356.0785 | 23,855.9031 | 23,993.1268 | 23,579.5542 | 23,949.2033 | 47,436.0489 | 23,800.8065 | 23,770.7971 | 23,726.8399 | 23,806.6465 | 47,310.8304 | 23,791.5148 | 289,662.7324 | 332,377.35 | |
| IRS withheld paid (20th of the following month) | PAYROLL LIABILITIES AND PAYMENTS | A: bank; F: prior month | 19,781.39 | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 19,986.6785 | 20,395.2375 | 41,178.1852 | 22,853.9212 | 23,356.0785 | 23,855.9031 | 23,993.1268 | 23,579.5542 | 23,949.2033 | 47,436.0489 | 23,800.8065 | 23,770.7971 | 23,726.8399 | 23,806.6465 | 47,310.8304 | 286,590.2012 | 331,439.7564 |
| IRS WITHHELD PAYABLE | PAYROLL LIABILITIES AND PAYMENTS | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 20,916.9 | 19,986.6785 | 20,395.2375 | 41,178.1852 | 22,853.9212 | 23,356.0785 | 23,855.9031 | 23,993.1268 | 23,579.5542 | 23,949.2033 | 47,436.0489 | 23,800.8065 | 23,770.7971 | 23,726.8399 | 23,806.6465 | 47,310.8304 | 23,791.5148 | 22,853.9212 | 23,791.5148 | |
| Net pay (salaries, allowances and commissions) | PAYROLL LIABILITIES AND PAYMENTS | 95,704.62 | 96,992.56 | 97,457.41 | 99,063.37 | 94,931.58 | 190,321.23 | 95,366.79 | 98,669.2 | 94,096.6454 | 97,116.6037 | 195,674.1756 | 109,272.5708 | 107,748.4401 | 110,196.3406 | 111,344.2036 | 109,733.4204 | 111,536.8561 | 221,256.9785 | 111,032.1809 | 110,882.3191 | 110,666.6832 | 111,058.3197 | 220,477.6832 | 110,984.0679 | 1,364,666.7555 | 1,546,917.4933 | |
| Meal allowance (card top-up with the payroll) | PAYROLL LIABILITIES AND PAYMENTS | 13,681.6 | 13,731 | 13,731 | 12,933.6 | 13,185.6 | 12,743.4 | 12,185.6 | 10,988.8 | 12,949.3217 | 13,853.5568 | 14,405.0827 | 13,607.8955 | 15,195.166 | 15,020.3974 | 15,210.7575 | 14,726.2879 | 15,232.8236 | 14,910.0219 | 14,045.6982 | 12,664.3671 | 15,078.1712 | 15,595.4316 | 15,767.8425 | 14,905.7832 | 157,996.4567 | 178,352.748 | |
| Work accident and health insurance (direct debit) | PAYROLL LIABILITIES AND PAYMENTS | 3,533.66 | 3,588.24 | 3,595.58 | 3,546.26 | 3,496.94 | 3,485.91 | 3,530.51 | 3,530.51 | 3,494.8196 | 3,602.7723 | 3,703.138 | 3,700.6751 | 4,014.4892 | 4,012.2436 | 4,055.8344 | 4,102.2778 | 4,101.2264 | 4,151.4282 | 4,150.8548 | 4,150.2758 | 4,150.2893 | 4,150.2959 | 4,150.2956 | 4,150.2955 | 42,809.0151 | 49,339.8064 | |
| Payroll cost, all departments (excl. commissions) | TOTALS | 210,825.8475 | 212,522.49 | 213,569.33 | 203,812.61 | 206,430.2712 | 199,686.21 | 192,913.735 | 178,945.935 | 201,370.3559 | 211,929.7618 | 219,479.661 | 221,579.6909 | 238,446.0102 | 236,340.4366 | 238,301.9195 | 232,475.8989 | 238,463.8029 | 235,096.5676 | 224,893.1556 | 208,589.3125 | 237,070.2474 | 243,173.5316 | 245,207.8288 | 235,036.2745 | 2,473,065.8983 | 2,813,094.9862 | |
| Remuneration paid | TOTALS | 130,404.84 | 132,180.98 | 132,912.39 | 135,144.48 | 129,615.81 | 259,470.36 | 129,899.64 | 134,366.4 | 128,183.51 | 132,035.7767 | 266,126.248 | 148,456.7326 | 147,308.448 | 150,620.4985 | 152,064.4162 | 149,789.8591 | 152,231.5274 | 301,902.278 | 151,497.7386 | 151,295.6362 | 151,003.9585 | 151,533.6699 | 300,885.9702 | 151,433.239 | 1,858,797.1674 | 2,111,567.2397 | |
| Recruitment cost of hires | TOTALS | hires x cost per hire | 0 | 2,200 | 2,200 | 0 | 0 | 2,200 | 2,200 | 0 | 0 | 6,600 | 5,930.8333 | 1,514.2676 | 10,374.8873 | 1,625.6909 | 3,824.3832 | 3,920.9725 | 1,719.8991 | 3,944.4894 | 1,769.8813 | 1,769.2979 | 1,794.6752 | 1,794.3859 | 1,794.0932 | 1,794.1 | 22,845.101 | 36,126.756 |
| Payroll cost per head a month | TOTALS | 3,100.3801 | 3,080.0361 | 3,095.2077 | 2,997.2443 | 3,081.0488 | 2,980.3912 | 2,836.9667 | 2,631.5579 | 2,991.9449 | 3,044.274 | 3,065.5366 | 3,097.0592 | 3,157.2763 | 3,131.1919 | 3,117.6673 | 3,002.584 | 3,080.8258 | 2,999.0142 | 2,869.2667 | 2,661.6437 | 3,025.0562 | 3,102.93 | 3,128.8881 | 2,999.0976 | 3,000.1373 | 3,022.9535 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (fees, SLA credits, onboarding, bundled licences) | MANAGED SERVICES | Revenue | 288,374.83 | 289,887.79 | 294,708.93 | 294,421.49 | 289,342.7 | 291,699.94 | 293,395.62 | 297,373.49 | 298,985.9169 | 307,368.8316 | 320,828.2885 | 332,270.0498 | 340,809.9018 | 347,671.1215 | 353,957.7673 | 357,680.1972 | 361,540.7577 | 362,635.884 | 362,217.6256 | 360,389.8556 | 364,222.0169 | 368,867.3476 | 370,860.6337 | 372,073.6062 | 3,598,657.8768 | 4,322,926.7151 |
| Service delivery payroll | MANAGED SERVICES | People | -110,061.0737 | -109,146.08 | -106,970.92 | -100,776 | -100,722.3112 | -96,649.6 | -94,329.375 | -87,485.175 | -98,302.1289 | -107,085.0583 | -113,742.8999 | -114,672.2748 | -122,265.8276 | -121,193.6056 | -123,225.5753 | -121,241.4005 | -124,346.0399 | -123,861.3769 | -118,462.2175 | -109,845.166 | -124,874.215 | -128,094.9523 | -129,168.4005 | -123,801.0911 | -1,239,942.8969 | -1,470,379.8684 |
| Service tooling | MANAGED SERVICES | Overheads | -19,340.7452 | -19,237.6251 | -19,903.7892 | -20,060.8229 | -19,856.1107 | -19,742.2967 | -20,113.8041 | -20,113.033 | -19,907.8223 | -19,886.8674 | -21,258.0457 | -21,276.5402 | -21,624.68 | -22,019.2684 | -21,985.9505 | -22,240.9473 | -22,281.332 | -22,331.2883 | -22,371.766 | -22,354.9012 | -22,405.1398 | -22,448.4734 | -22,484.711 | -22,535.386 | -240,697.5025 | -267,083.8439 |
| Colocation and backup storage | MANAGED SERVICES | Overheads | -8,856.6 | -8,856.6 | -8,883.6 | -8,885.4 | -8,870.1 | -8,871 | -8,900.7 | -8,902.5 | -8,904.1216 | -8,901.6908 | -8,990.2169 | -8,989.7417 | -9,238.8299 | -9,270.0085 | -9,267.4742 | -9,285.4116 | -9,286.8043 | -9,288.7626 | -9,289.9757 | -9,287.4515 | -9,289.4118 | -9,291.0373 | -9,291.5508 | -9,293.5181 | -106,812.271 | -111,380.2364 |
| Field vans | MANAGED SERVICES | Overheads | -5,636.01 | -5,397.13 | -4,560.78 | -4,836.18 | -4,674.39 | -5,555.41 | -5,465.7 | -5,641.87 | -5,474.7 | -5,420.0452 | -5,421.328 | -5,421.9506 | -5,557.4766 | -5,557.4694 | -5,557.4698 | -6,367.2199 | -6,357.7728 | -6,348.4359 | -6,348.6551 | -6,348.7614 | -6,348.7576 | -6,348.7564 | -6,348.7565 | -6,348.7565 | -63,505.4938 | -73,838.2881 |
| Bundled licence cost net of its vendor incentive | MANAGED SERVICES | Licences, Rebates | -53,873.4018 | -54,051.3896 | -55,363.5192 | -55,460.7996 | -54,495.1603 | -54,493.0496 | -56,042.6503 | -56,338.0397 | -56,521.8564 | -56,462.575 | -61,357.8916 | -61,447.971 | -64,552.6987 | -65,930.3517 | -65,812.6034 | -66,734.9059 | -66,901.9408 | -67,105.154 | -67,275.2192 | -67,233.5907 | -67,438.084 | -67,615.4163 | -67,775.9571 | -67,982.3706 | -675,908.3041 | -802,358.2924 |
| GROSS MARGIN: MANAGED SERVICES | MANAGED SERVICES | 90,606.9993 | 93,198.9653 | 99,026.3216 | 104,402.2875 | 100,724.6277 | 106,388.5837 | 108,543.3906 | 118,892.8722 | 109,875.2877 | 109,612.595 | 110,057.9065 | 120,461.5715 | 117,570.3889 | 123,700.4179 | 128,108.6941 | 131,810.312 | 132,366.8679 | 133,700.8663 | 138,469.7921 | 145,319.9846 | 133,866.4086 | 135,068.7119 | 135,791.2578 | 142,112.4839 | 1,271,791.4085 | 1,597,886.186 | |
| Gross margin % | MANAGED SERVICES | 31.42% | 32.15% | 33.6% | 35.46% | 34.81% | 36.47% | 37% | 39.98% | 36.75% | 35.66% | 34.3% | 36.25% | 34.5% | 35.58% | 36.19% | 36.85% | 36.61% | 36.87% | 38.23% | 40.32% | 36.75% | 36.62% | 36.62% | 38.19% | 35.34% | 36.96% | |
| Revenue | HARDWARE | Revenue | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 269,984 | 292,864 | 244,816 | 224,224 | 201,344 | 210,496 | 240,240 | 217,360 | 228,800 | 256,256 | 210,496 | 137,280 | 269,984 | 292,864 | 244,816 | 224,224 | 2,606,888 | 2,734,160 |
| Cost before rebates | HARDWARE | Hardware | -161,634 | -171,587 | -195,328 | -175,473 | -184,652 | -208,012 | -170,912 | -105,633 | -234,076.128 | -253,913.088 | -212,255.472 | -194,402.208 | -174,565.248 | -182,500.032 | -208,288.08 | -188,451.12 | -198,369.6 | -222,173.952 | -182,500.032 | -119,021.76 | -234,076.128 | -253,913.088 | -212,255.472 | -194,402.208 | -2,267,877.896 | -2,370,516.72 |
| Distributor rebate | HARDWARE | Rebates | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 4,358.5353 | 3,890.2198 | 2,949.564 | 2,747.163 | 2,484.0993 | 2,923.7119 | 3,166.5547 | 2,734.9409 | 3,000.1802 | 3,544.0329 | 2,418.5734 | 1,355.3123 | 4,343.3984 | 3,890.2198 | 2,949.564 | 2,747.163 | 33,887.6021 | 35,557.7508 |
| GROSS MARGIN: HARDWARE | HARDWARE | 26,451.58 | 28,022.27 | 31,835.67 | 28,080.48 | 30,010.02 | 33,315.43 | 27,414.49 | 16,581.18 | 40,266.4073 | 42,841.1318 | 35,510.092 | 32,568.955 | 29,262.8513 | 30,919.6799 | 35,118.4747 | 31,643.8209 | 33,430.5802 | 37,626.0809 | 30,414.5414 | 19,613.5523 | 40,251.2704 | 42,841.1318 | 35,510.092 | 32,568.955 | 372,897.7061 | 399,201.0308 | |
| Gross margin % | HARDWARE | 14.22% | 14.22% | 14.21% | 13.97% | 14.16% | 14% | 13.99% | 13.7% | 14.91% | 14.63% | 14.5% | 14.53% | 14.53% | 14.69% | 14.62% | 14.56% | 14.61% | 14.68% | 14.45% | 14.29% | 14.91% | 14.63% | 14.5% | 14.53% | 14.3% | 14.6% | |
| Revenue | LICENCE RESALE (annual licences as principal, other licences as agent) | Revenue | 40,560.95 | 41,360.3667 | 43,158.9667 | 41,960.0167 | 42,151.5667 | 42,684.55 | 41,885.25 | 39,512.2333 | 43,756.4417 | 44,453.7946 | 45,225.055 | 46,239.1306 | 43,011.2528 | 43,610.1982 | 45,484.3493 | 44,225.2359 | 44,539.9586 | 45,159.9039 | 44,328.8284 | 41,871.4169 | 45,811.0417 | 46,512.8946 | 47,287.755 | 48,309.3306 | 512,948.322 | 540,152.166 |
| Annual licence cost recognised, net of its vendor incentive | LICENCE RESALE (annual licences as principal, other licences as agent) | Licences, Rebates | -20,003.1982 | -25,325.987 | -25,262.9074 | -25,417.9471 | -25,576.7864 | -25,483.5604 | -25,651.5197 | -25,795.4136 | -25,493.2373 | -25,719.4133 | -25,837.5173 | -25,618.3333 | -21,262.9253 | -26,881.0125 | -26,806.5477 | -26,967.0901 | -27,131.6605 | -27,011.3069 | -27,193.1445 | -27,343.1381 | -27,022.8316 | -27,262.5781 | -27,387.7684 | -27,155.4333 | -301,185.8212 | -319,425.4373 |
| GROSS MARGIN: LICENCE RESALE | LICENCE RESALE (annual licences as principal, other licences as agent) | 20,557.7518 | 16,034.3796 | 17,896.0592 | 16,542.0696 | 16,574.7803 | 17,200.9896 | 16,233.7303 | 13,716.8197 | 18,263.2044 | 18,734.3813 | 19,387.5377 | 20,620.7973 | 21,748.3275 | 16,729.1856 | 18,677.8015 | 17,258.1458 | 17,408.2981 | 18,148.597 | 17,135.6839 | 14,528.2787 | 18,788.2101 | 19,250.3165 | 19,899.9867 | 21,153.8973 | 211,762.5008 | 220,726.7287 | |
| Gross margin % | LICENCE RESALE (annual licences as principal, other licences as agent) | 50.68% | 38.77% | 41.47% | 39.42% | 39.32% | 40.3% | 38.76% | 34.72% | 41.74% | 42.14% | 42.87% | 44.6% | 50.56% | 38.36% | 41.06% | 39.02% | 39.08% | 40.19% | 38.66% | 34.7% | 41.01% | 41.39% | 42.08% | 43.79% | 41.28% | 40.86% | |
| Revenue | PROJECTS | Revenue | 50,552.08 | 68,641.43 | 91,670.16 | 96,051.3 | 88,649.11 | 29,853.61 | 71,123.71 | 38,771.77 | 90,081.7919 | 127,600 | 121,000 | 115,500 | 104,500 | 108,900 | 116,600 | 112,200 | 106,700 | 121,000 | 102,300 | 66,000 | 115,500 | 127,600 | 121,000 | 115,500 | 989,494.9619 | 1,317,800 |
| Project team payroll | PROJECTS | People | -43,812.6 | -46,895.93 | -46,895.93 | -45,328.705 | -46,504.1237 | -45,328.705 | -43,369.6738 | -40,235.2237 | -45,339.502 | -46,117.5829 | -46,509.4266 | -47,020.6048 | -51,635.7484 | -51,178.4332 | -51,149.0174 | -49,440.9698 | -50,722.614 | -49,441.1969 | -47,305.5101 | -43,888.4142 | -49,868.3321 | -51,149.743 | -51,576.88 | -49,441.1951 | -543,358.0076 | -596,798.0542 |
| Subcontractors | PROJECTS | Projects | -3,140 | -4,780 | -8,060 | -13,800 | -16,260 | -17,900 | -17,080 | -11,340 | -11,613.3333 | -21,122.7263 | -20,326.844 | -11,555.3706 | -12,016.6176 | -14,669.5588 | -15,598.0882 | -15,067.5 | -14,404.2647 | -16,128.6765 | -13,873.6765 | -9,496.3235 | -15,465.4412 | -16,924.5588 | -16,128.6765 | -15,465.4412 | -156,978.2742 | -175,238.8235 |
| Onerous provision movement | PROJECTS | Projects | 0 | 0 | 0 | 0 | 0 | -10,147.14 | 4,731.43 | 2,908.57 | 835.7114 | 835.7143 | 835.7143 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| GROSS MARGIN: PROJECTS | PROJECTS | 3,599.48 | 16,965.5 | 36,714.23 | 36,922.595 | 25,884.9863 | -43,522.235 | 15,405.4662 | -9,894.8838 | 33,964.668 | 61,195.405 | 54,999.4437 | 56,924.0246 | 40,847.634 | 43,052.008 | 49,852.8943 | 47,691.5302 | 41,573.1213 | 55,430.1266 | 41,120.8135 | 12,615.2622 | 50,166.2268 | 59,525.6981 | 53,294.4435 | 50,593.3637 | 289,158.6801 | 545,763.1223 | |
| Gross margin % | PROJECTS | 7.12% | 24.72% | 40.05% | 38.44% | 29.2% | -145.79% | 21.66% | -25.52% | 37.7% | 47.96% | 45.45% | 49.28% | 39.09% | 39.53% | 42.76% | 42.51% | 38.96% | 45.81% | 40.2% | 19.11% | 43.43% | 46.65% | 44.04% | 43.8% | 29.22% | 41.41% | |
| GROSS PROFIT | RECONCILIATION TO THE P&L | sum of the service lines | 141,215.8111 | 154,221.1149 | 185,472.2808 | 185,947.4321 | 173,194.4143 | 113,382.7683 | 167,597.0772 | 139,295.9882 | 202,369.5673 | 232,383.5131 | 219,954.9798 | 230,575.3484 | 209,429.2017 | 214,401.2915 | 231,757.8647 | 228,403.8088 | 224,778.8676 | 244,905.6708 | 227,140.8308 | 192,077.0779 | 243,072.1159 | 256,685.8583 | 244,495.78 | 246,428.6999 | 2,145,610.2955 | 2,763,577.0678 |
| Check: service lines less the P&L gross profit (must be zero) | RECONCILIATION TO THE P&L | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Managed services share of gross profit | RECONCILIATION TO THE P&L | 64.16% | 60.43% | 53.39% | 56.15% | 58.16% | 93.83% | 64.76% | 85.35% | 54.29% | 47.17% | 50.04% | 52.24% | 56.14% | 57.7% | 55.28% | 57.71% | 58.89% | 54.59% | 60.96% | 75.66% | 55.07% | 52.62% | 55.54% | 57.67% | 59.27% | 57.82% |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | GROWTH AND RECURRING REVENUE | PL | 565,487.86 | 596,889.5867 | 653,538.0567 | 633,432.8067 | 632,143.3767 | 602,238.1 | 602,404.58 | 496,657.4933 | 702,808.1505 | 772,286.6262 | 731,869.3436 | 718,233.1804 | 689,665.1547 | 710,677.3197 | 756,282.1166 | 731,465.4331 | 741,580.7163 | 785,051.788 | 719,342.454 | 605,541.2724 | 795,517.0586 | 835,844.2422 | 783,964.3887 | 760,106.9368 | 7,707,989.1607 | 8,915,038.8811 |
| Revenue growth on the same month a year earlier | GROWTH AND RECURRING REVENUE | Revenue | -10.12% | -8.75% | -8.11% | -7.22% | -8.64% | -20.6% | -10.55% | -9.12% | -8.11% | -4.05% | -2.15% | -0.85% | 21.96% | 19.06% | 15.72% | 15.48% | 17.31% | 30.36% | 19.41% | 21.92% | 13.19% | 8.23% | 7.12% | 5.83% | ||
| Recurring revenue share (managed services and annual licences) | GROWTH AND RECURRING REVENUE | Revenue | 56.94% | 54.22% | 50.27% | 51.83% | 51.14% | 54.09% | 54.36% | 66.75% | 47.41% | 44.24% | 48.53% | 51.07% | 54.6% | 53.96% | 51.55% | 53.81% | 53.61% | 50.79% | 55.38% | 65.49% | 50.35% | 48.48% | 51.95% | 53.76% | 51.99% | 53.35% |
| Managed service fees (MRR) | GROWTH AND RECURRING REVENUE | Contracts | 222,281.28 | 223,268.81 | 229,851.35 | 231,117.86 | 227,787.83 | 228,319.33 | 235,394.64 | 236,994.81 | 237,690.7987 | 238,655.0069 | 257,727.4001 | 258,279.8182 | 264,564.7875 | 270,963.607 | 272,326.0452 | 277,311.0847 | 278,509.5297 | 279,356.4066 | 280,833.5664 | 282,496.0135 | 283,335.599 | 284,964.5237 | 286,761.69 | 287,722.5039 | 2,827,368.934 | 3,349,145.3572 |
| Annualised fees (MRR x 12) | GROWTH AND RECURRING REVENUE | Contracts | 2,667,375.36 | 2,679,225.72 | 2,758,216.2 | 2,773,414.32 | 2,733,453.96 | 2,739,831.96 | 2,824,735.68 | 2,843,937.72 | 2,852,289.5841 | 2,863,860.0833 | 3,092,728.8016 | 3,099,357.8186 | 3,174,777.45 | 3,251,563.2837 | 3,267,912.5425 | 3,327,733.0169 | 3,342,114.3559 | 3,352,276.8798 | 3,370,002.7972 | 3,389,952.1617 | 3,400,027.1878 | 3,419,574.2845 | 3,441,140.2802 | 3,452,670.0464 | 3,099,357.8186 | 3,452,670.0464 |
| Managed users | GROWTH AND RECURRING REVENUE | Contracts | 3,781 | 3,794 | 3,882 | 3,893 | 3,815 | 3,824 | 3,938 | 3,951 | 3,962.5947 | 3,958.4386 | 4,301.6361 | 4,307.9513 | 4,393.8013 | 4,487.5717 | 4,479.5572 | 4,542.334 | 4,553.7033 | 4,567.5351 | 4,579.1106 | 4,576.2771 | 4,590.196 | 4,602.2662 | 4,613.1935 | 4,627.2431 | 4,307.9513 | 4,627.2431 |
| Managed devices | GROWTH AND RECURRING REVENUE | Contracts | 1,174 | 1,174 | 1,204 | 1,206 | 1,189 | 1,190 | 1,223 | 1,225 | 1,226.8018 | 1,224.1009 | 1,322.4632 | 1,321.9352 | 1,348.3251 | 1,382.1231 | 1,379.3758 | 1,398.8202 | 1,400.3299 | 1,402.4527 | 1,403.7677 | 1,401.0315 | 1,403.1564 | 1,404.9185 | 1,405.4751 | 1,407.6077 | 1,321.9352 | 1,407.6077 |
| Contracts billing | GROWTH AND RECURRING REVENUE | Contracts | 30 | 30 | 31 | 31 | 31 | 31 | 32 | 32 | 32 | 32 | 33 | 33 | 34 | 35 | 35 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 33 | 36 |
| Fees per user a month (devices included) | GROWTH AND RECURRING REVENUE | Contracts | 58.789 | 58.8479 | 59.2095 | 59.3675 | 59.7085 | 59.7069 | 59.7752 | 59.9835 | 59.9836 | 60.2902 | 59.9138 | 59.9542 | 60.2132 | 60.3809 | 60.7931 | 61.0504 | 61.1611 | 61.1613 | 61.3293 | 61.7305 | 61.7263 | 61.9183 | 62.1612 | 62.1801 | 59.6275 | 61.3171 |
| Net revenue retention, trailing 12 months | GROWTH AND RECURRING REVENUE | Contracts | 104.72% | 104.78% | 104.77% | 104.81% | 100.76% | 100.78% | 100.77% | 100.92% | 101.11% | 101.08% | 101.06% | 101.05% | 101.23% | 101.27% | 101.3% | 101.31% | 105.21% | 105.29% | 105.54% | 105.49% | 105.49% | 105.71% | 105.88% | 106.01% | 101.05% | 106.01% |
| Gross revenue retention, trailing 12 months | GROWTH AND RECURRING REVENUE | Contracts | 100% | 100% | 100% | 100% | 96.08% | 96.15% | 96.16% | 96.18% | 96.25% | 96.25% | 96.27% | 96.23% | 96.24% | 96.25% | 96.38% | 96.4% | 99.98% | 99.98% | 100% | 99.99% | 99.99% | 99.99% | 99.99% | 100% | 96.23% | 100% |
| Fees lost at renewal (a month) | GROWTH AND RECURRING REVENUE | Contracts | 0 | 0 | 0 | 0 | 8,250 | 0 | 0 | 0 | 0 | 851.2411 | 270.4678 | 431.8857 | 302.7195 | 245.3632 | 1,170.23 | 381.5598 | 165.1308 | 0 | 157.6965 | 829.3785 | 0 | 124.4801 | 189.2823 | 0 | 9,803.5947 | 3,565.8407 |
| First-year fees of new contracts | GROWTH AND RECURRING REVENUE | Contracts | 0 | 0 | 63,072 | 0 | 50,832 | 0 | 76,896 | 0 | 0 | 0 | 218,064 | 0 | 58,032 | 62,100 | 0 | 42,702 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 408,864 | 162,834 |
| Tickets | SERVICE DESK AND SLA | Service_Desk | 1,903 | 1,831 | 1,874 | 1,844 | 1,788 | 1,748 | 1,792 | 1,601 | 2,022.6738 | 1,964.1734 | 2,092.4511 | 1,912.0244 | 2,199.0885 | 2,162.1359 | 2,115.9079 | 2,081.2123 | 2,107.5992 | 2,070.5104 | 2,053.7736 | 1,900.9863 | 2,339.7324 | 2,280.3774 | 2,241.7662 | 2,051.7713 | 22,372.3227 | 25,604.8615 |
| Service desk utilisation | SERVICE DESK AND SLA | Service_Desk | 81.45% | 80.7% | 88.35% | 89.52% | 90.78% | 89.05% | 98.46% | 95.7% | 94.67% | 84.97% | 99.75% | 86.36% | 88.2% | 89.6% | 83.49% | 86.57% | 82.92% | 82.63% | 86.15% | 89.88% | 86.89% | 83.76% | 82.47% | 82.64% | 89.77% | 85.34% |
| SLA attainment | SERVICE DESK AND SLA | Service_Desk | 97.34% | 98.03% | 93.18% | 91.81% | 91.22% | 92.65% | 86.39% | 88.4% | 88.96% | 95.27% | 85.66% | 94.37% | 93.17% | 92.26% | 96.23% | 94.23% | 96.6% | 96.79% | 94.5% | 92.08% | 94.02% | 96.05% | 96.89% | 96.78% | 91.94% | 94.97% |
| SLA credits | SERVICE DESK AND SLA | Service_Desk | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 8,364.3445 | 873.2186 | 12,886.37 | 2,107.0696 | 3,742.4834 | 5,068.0512 | 0 | 2,458.0625 | 0 | 0 | 2,103.1732 | 5,542.5361 | 2,799.7733 | 0 | 0 | 0 | 61,884.0127 | 21,714.0797 |
| SLA credits, % of fees | SERVICE DESK AND SLA | Service_Desk | 0% | 0% | 1.41% | 2.09% | 2.39% | 1.67% | 4.81% | 3.8% | 3.52% | 0.37% | 5% | 0.82% | 1.41% | 1.87% | 0% | 0.89% | 0% | 0% | 0.75% | 1.96% | 0.99% | 0% | 0% | 0% | 2.19% | 0.65% |
| Service desk FTE | SERVICE DESK AND SLA | Service_Desk | 39 | 39 | 38 | 37 | 36 | 36 | 37 | 37 | 36.5683 | 39.1417 | 41.1167 | 41.0637 | 43.0412 | 43.0188 | 43.996 | 44.9848 | 44.9619 | 45.9506 | 45.9394 | 45.928 | 45.9282 | 45.9283 | 45.9283 | 45.9283 | 41.0637 | 45.9283 |
| FTE short (+) or spare (-) against the utilisation knee | SERVICE DESK AND SLA | Service_Desk | 0.7087 | 0.3426 | 3.9679 | 4.4034 | 4.8498 | 4.0745 | 8.5363 | 7.2598 | 6.7075 | 2.4326 | 10.1494 | 3.2627 | 4.411 | 5.1629 | 1.9189 | 3.6964 | 1.639 | 1.5078 | 3.5319 | 5.6738 | 3.9536 | 2.1612 | 1.4177 | 1.5151 | 4.7246 | 3.0491 |
| Tickets per service desk FTE | SERVICE DESK AND SLA | Service_Desk | 48.7949 | 46.9487 | 49.3158 | 49.8378 | 49.6667 | 48.5556 | 48.4324 | 43.2703 | 55.3122 | 50.1811 | 50.8905 | 46.5625 | 51.0926 | 50.2603 | 48.0932 | 46.2648 | 46.8752 | 45.0595 | 44.7062 | 41.3906 | 50.9432 | 49.6508 | 48.8101 | 44.6733 | 48.9807 | 47.3183 |
| Gross margin % | MARGINS AND SERVICE LINES | PL | 24.97% | 25.84% | 28.38% | 29.36% | 27.4% | 18.83% | 27.82% | 28.05% | 28.79% | 30.09% | 30.05% | 32.1% | 30.37% | 30.17% | 30.64% | 31.23% | 30.31% | 31.2% | 31.58% | 31.72% | 30.56% | 30.71% | 31.19% | 32.42% | 27.84% | 31% |
| Gross margin %: managed services | MARGINS AND SERVICE LINES | Margins | 31.42% | 32.15% | 33.6% | 35.46% | 34.81% | 36.47% | 37% | 39.98% | 36.75% | 35.66% | 34.3% | 36.25% | 34.5% | 35.58% | 36.19% | 36.85% | 36.61% | 36.87% | 38.23% | 40.32% | 36.75% | 36.62% | 36.62% | 38.19% | 35.34% | 36.96% |
| Gross margin %: hardware (after rebates) | MARGINS AND SERVICE LINES | Margins | 14.22% | 14.22% | 14.21% | 13.97% | 14.16% | 14% | 13.99% | 13.7% | 14.91% | 14.63% | 14.5% | 14.53% | 14.53% | 14.69% | 14.62% | 14.56% | 14.61% | 14.68% | 14.45% | 14.29% | 14.91% | 14.63% | 14.5% | 14.53% | 14.3% | 14.6% |
| Gross margin %: licence resale | MARGINS AND SERVICE LINES | Margins | 50.68% | 38.77% | 41.47% | 39.42% | 39.32% | 40.3% | 38.76% | 34.72% | 41.74% | 42.14% | 42.87% | 44.6% | 50.56% | 38.36% | 41.06% | 39.02% | 39.08% | 40.19% | 38.66% | 34.7% | 41.01% | 41.39% | 42.08% | 43.79% | 41.28% | 40.86% |
| Gross margin %: projects | MARGINS AND SERVICE LINES | Margins | 7.12% | 24.72% | 40.05% | 38.44% | 29.2% | -145.79% | 21.66% | -25.52% | 37.7% | 47.96% | 45.45% | 49.28% | 39.09% | 39.53% | 42.76% | 42.51% | 38.96% | 45.81% | 40.2% | 19.11% | 43.43% | 46.65% | 44.04% | 43.8% | 29.22% | 41.41% |
| Distributor rebate, % of purchases | MARGINS AND SERVICE LINES | Rebates | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% |
| Project team utilisation | MARGINS AND SERVICE LINES | Projects | 45.56% | 56.82% | 73.06% | 75.43% | 65.99% | 66.26% | 65.46% | 40.14% | 83.27% | 114.32% | 107.39% | 106.9% | 82.32% | 87.61% | 93.86% | 94.5% | 86.85% | 101.91% | 91.45% | 65.42% | 96.16% | 102.71% | 96.34% | 97.28% | 75.05% | 91.37% |
| Signed project backlog | MARGINS AND SERVICE LINES | Projects | 722,040.12 | 653,398.69 | 561,728.53 | 465,677.23 | 377,028.12 | 347,174.51 | 276,050.8 | 237,279.03 | 147,197.2381 | 98,455.619 | 49,714 | 17,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,600 | 0 |
| Cash at bank | CASH, DEBT AND PEOPLE | BS | 1,081,285.7015 | 1,191,256.1735 | 1,285,102.2266 | 1,255,629.5897 | 1,151,241.0654 | 880,479.6874 | 719,668.2707 | 842,052.8828 | 806,788.6422 | 731,421.6419 | 696,587.1026 | 745,697.6212 | 842,965.9907 | 941,681.1847 | 1,099,733.6262 | 1,168,997.3823 | 1,112,697.1924 | 1,011,764.1951 | 970,796.7344 | 1,211,989.8689 | 1,292,665.297 | 1,254,748.8152 | 1,285,481.4817 | 1,330,212.1501 | 745,697.6212 | 1,330,212.1501 |
| Minimum cash buffer (board policy) | CASH, DEBT AND PEOPLE | Assumptions | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 |
| Headroom over the buffer | CASH, DEBT AND PEOPLE | 681,285.7015 | 791,256.1735 | 885,102.2266 | 855,629.5897 | 751,241.0653 | 480,479.6874 | 319,668.2707 | 442,052.8828 | 406,788.6422 | 331,421.6419 | 296,587.1026 | 345,697.6212 | 442,965.9907 | 541,681.1847 | 699,733.6262 | 768,997.3823 | 712,697.1924 | 611,764.1951 | 570,796.7344 | 811,989.8689 | 892,665.297 | 854,748.8152 | 885,481.4817 | 930,212.1501 | 345,697.6212 | 930,212.1501 | |
| Bank loan | CASH, DEBT AND PEOPLE | Financing | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | 500,000.08 | 900,000.04 | 500,000.08 |
| Net debt | CASH, DEBT AND PEOPLE | Financing | 185,380.9685 | 42,077.1665 | -85,102.2166 | -88,962.9097 | -17,907.7153 | 219,520.3326 | 346,998.4193 | 191,280.4772 | 193,211.3878 | 235,245.0581 | 236,746.2674 | 154,302.4188 | 23,700.7193 | -108,347.8047 | -299,733.5762 | -402,330.6623 | -379,363.8024 | -311,764.1351 | -304,130.0044 | -578,656.4689 | -692,665.227 | -688,082.0752 | -752,148.0717 | -830,212.0701 | 154,302.4188 | -830,212.0701 |
| Net debt / EBITDA, last twelve months | CASH, DEBT AND PEOPLE | Financing | 0.1418 | 0.033 | -0.0681 | -0.0722 | -0.0149 | 0.2019 | 0.3313 | 0.1871 | 0.1943 | 0.2405 | 0.2465 | 0.1622 | 0.0237 | -0.1031 | -0.2749 | -0.3584 | -0.3254 | -0.2417 | -0.2264 | -0.4166 | -0.4872 | -0.4766 | -0.5131 | -0.5616 | 0.1622 | -0.5616 |
| Debt service cover, last twelve months | CASH, DEBT AND PEOPLE | Financing | 2.3887 | 2.3276 | 2.2567 | 2.2245 | 2.2213 | 1.7387 | 1.5985 | 1.5492 | 1.4386 | 1.3996 | 1.3586 | 1.2865 | 1.3835 | 1.5026 | 1.6145 | 1.6869 | 1.7888 | 2.3115 | 2.5038 | 2.6156 | 2.8973 | 2.9646 | 3.0318 | 3.1325 | 1.2865 | 3.1325 |
| Debtor days | CASH, DEBT AND PEOPLE | Receivables | 40.8929 | 36.4222 | 37.7171 | 41.7719 | 39.2766 | 40.1042 | 40.964 | 37.2791 | 45.3711 | 46.4331 | 42.7162 | 39.6338 | 43.4096 | 38.5534 | 37.2016 | 39.6383 | 40.286 | 41.5422 | 40.1071 | 36.2259 | 43.5653 | 45.4926 | 39.9152 | 39.8912 | 39.6338 | 39.8912 |
| EBITDA | CASH, DEBT AND PEOPLE | PL | 45,992.7496 | 56,946.4873 | 76,787.6968 | 90,078.0713 | 69,717.8865 | 14,666.2618 | 71,880.7739 | 52,553.2371 | 105,543.2375 | 122,190.8149 | 115,373.7205 | 129,852.8534 | 94,247.471 | 108,371.5232 | 115,896.0105 | 122,131.6634 | 113,253.3138 | 138,417.4895 | 125,721.7691 | 98,154.6834 | 138,132.2585 | 144,235.8063 | 137,545.9267 | 142,249.0754 | 951,583.7906 | 1,478,356.9908 |
| EBITDA % of revenue | CASH, DEBT AND PEOPLE | PL | 8.13% | 9.54% | 11.75% | 14.22% | 11.03% | 2.44% | 11.93% | 10.58% | 15.02% | 15.82% | 15.76% | 18.08% | 13.67% | 15.25% | 15.32% | 16.7% | 15.27% | 17.63% | 17.48% | 16.21% | 17.36% | 17.26% | 17.54% | 18.71% | 12.35% | 16.58% |
| Free cash flow (before financing) | CASH, DEBT AND PEOPLE | CF | 164,619.0315 | 143,303.802 | 127,179.3831 | 3,860.6931 | 188,144.8056 | -136,628.0479 | -127,478.0867 | 155,717.9421 | -1,930.9107 | -42,033.6702 | -1,501.2093 | 82,443.8486 | 130,601.6995 | 132,048.524 | 191,385.7715 | 102,597.0862 | 178,912.424 | 10,908.9431 | -7,634.1307 | 274,526.4645 | 114,008.7581 | -4,583.1518 | 64,065.9966 | 78,063.9984 | 555,697.5812 | 1,264,902.3833 |
| Headcount | CASH, DEBT AND PEOPLE | People | 68 | 69 | 69 | 68 | 67 | 67 | 68 | 68 | 67.3042 | 69.6159 | 71.5958 | 71.5452 | 75.5227 | 75.4794 | 76.436 | 77.4253 | 77.4026 | 78.3913 | 78.38 | 78.3686 | 78.3689 | 78.369 | 78.369 | 78.369 | 71.5452 | 78.369 |
| Revenue per employee, annualised | CASH, DEBT AND PEOPLE | 99,791.9753 | 103,806.8846 | 113,658.7925 | 111,782.26 | 113,219.7093 | 107,863.5403 | 106,306.6906 | 87,645.44 | 125,307.2168 | 133,122.5254 | 122,666.7958 | 120,466.4906 | 109,582.7156 | 112,986.1879 | 118,731.8707 | 113,368.4687 | 114,969.9537 | 120,174.351 | 110,131.5144 | 92,722.0146 | 121,811.1774 | 127,985.9449 | 120,042.0172 | 116,388.9241 | 120,466.4906 | 116,388.9241 |
| Code | Customer (fictional) | Country | Sector | VAT on invoices | First contract start (month) | Start month no. | Status | Users at 31-Dec-25 (live) or at signature | Devices at 31-Dec-25 or at signature | Price per user a month (31-Dec-25 or signature) | Price per device a month | User growth a month | Payment terms (days) | SLA tier | Probability Base (renewal or win) | Probability Downside | Probability Upside | Probability selected | Effective start month no. | Anniversary month | Next renewal after the last actual month | Onboarding fee (starts from Jan-25) | Expected onboarding fee (pipeline x win probability) | Users at the last actual month | Devices at the last actual month | Fees at the last actual month | Managed services revenue FY2026 (fees and licences) | Managed services revenue FY2027 | Share of FY2026 managed services revenue | Delivery cost allocated FY2026 (desk hours, tooling, licences) | Contribution FY2026 | Contribution % FY2026 | Contract note (fictional) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C01 | Brevanor Têxteis, S.A. | PT | Textiles | 0.23 | 2021-03-31 | -57 | Live | 420 | 95 | 38.5 | 64 | 0.002 | 45 | Premium | 0.9 | 0.5 | 0.95 | 0.95 | -57 | March | 2027-03-31 | 0 | 0 | 425 | 96 | 23,091.67 | 364,550.4031 | 374,544.6143 | 0.0998 | 228,910.826 | 135,639.5771 | 37.21% | Largest contract: 420 users across two plants and the head office. Renews in March 2027; a regional competitor has approached the IT director. ERP infrastructure project J01 overran (Projects). |
| C02 | Clínicas Almedra, Lda | PT | Healthcare | 0.23 | 2022-04-30 | -44 | Live | 260 | 70 | 44 | 58 | 0.004 | 30 | Premium | 0.94 | 0.85 | 0.97 | 0.97 | -44 | April | 2028-04-30 | 0 | 0 | 269 | 70 | 16,309.3 | 249,373.0402 | 271,888.6799 | 0.0683 | 149,793.2834 | 99,579.7568 | 39.93% | |
| C03 | Solvinha Calçado, Lda | PT | Footwear | 0.23 | 2023-10-31 | -26 | Live | 150 | 38 | 40 | 55 | 0.001 | 45 | Standard | 0.92 | 0.8 | 0.95 | 0.95 | -26 | October | 2026-10-31 | 0 | 0 | 153 | 38 | 8,210 | 129,918.1183 | 132,605.9508 | 0.0356 | 83,308.0043 | 46,610.114 | 35.88% | |
| C04 | Valcorra Advogados | PT | Legal services | 0.23 | 2020-03-31 | -69 | Live | 95 | 22 | 52 | 72 | 0.002 | 30 | Premium | 0.95 | 0.88 | 0.97 | 0.97 | -69 | March | 2029-03-31 | 0 | 0 | 96 | 22 | 6,746.98 | 100,619.145 | 106,605.6584 | 0.0275 | 51,900.4371 | 48,718.7079 | 48.42% | |
| C05 | Colégios Maravel | PT | Education | 0.23 | 2021-08-31 | -52 | Live | 310 | 85 | 29 | 48 | 0.002 | 30 | Standard | 0.93 | 0.85 | 0.96 | 0.96 | -52 | August | 2027-08-31 | 0 | 0 | 314 | 87 | 13,627.33 | 226,051.307 | 236,614.8291 | 0.0619 | 178,154.1315 | 47,897.1755 | 21.19% | |
| C06 | Metalúrgica Vaurinho, Lda | PT | Metalworking | 0.23 | 2023-01-31 | -35 | Live | 120 | 40 | 41 | 60 | 0.001 | 45 | Standard | 0.93 | 0.85 | 0.96 | 0.96 | -35 | January | 2029-01-31 | 0 | 0 | 122 | 40 | 7,594.45 | 116,583.1251 | 122,045.2727 | 0.0319 | 73,144.2909 | 43,438.8342 | 37.26% | |
| C07 | Quintas Delvara, S.A. | PT | Wine exports | 0.23 | 2024-02-29 | -22 | Live | 85 | 30 | 45 | 62 | 0.003 | 30 | Standard | 0.93 | 0.85 | 0.96 | 0.96 | -22 | February | 2027-02-28 | 0 | 0 | 88 | 31 | 6,034.93 | 90,170.8029 | 94,894.1731 | 0.0247 | 53,742.5516 | 36,428.2513 | 40.4% | |
| C08 | Farmácias Oliveda | PT | Pharmacy retail | 0.23 | 2022-01-31 | -47 | Live | 180 | 90 | 39 | 45 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.97 | -47 | January | 2028-01-31 | 0 | 0 | 185 | 91 | 11,604.06 | 177,487.7524 | 190,556.0568 | 0.0486 | 128,778.9312 | 48,708.8213 | 27.44% | |
| C09 | Moldivel Plásticos, S.A. | PT | Plastics | 0.23 | 2023-07-31 | -29 | Live | 140 | 45 | 40 | 63 | 0.002 | 60 | Standard | 0.93 | 0.85 | 0.96 | 0.96 | -29 | July | 2029-07-31 | 0 | 0 | 143 | 45 | 8,777.43 | 133,297.9947 | 141,307.2515 | 0.0365 | 84,301.0226 | 48,996.9721 | 36.76% | |
| C10 | Pravel Contabilidade, Lda | PT | Accounting | 0.23 | 2024-10-31 | -14 | Live | 60 | 12 | 50 | 70 | 0.002 | 30 | Standard | 0.95 | 0.88 | 0.97 | 0.97 | -14 | October | 2027-10-31 | 0 | 0 | 61 | 12 | 3,890 | 59,631.1538 | 63,205.2548 | 0.0163 | 31,714.8093 | 27,916.3445 | 46.82% | |
| C11 | Hotéis Alvenosa | PT | Hotels | 0.23 | 2022-08-31 | -40 | Live | 130 | 60 | 37 | 52 | 0.002 | 30 | Standard | 0.93 | 0.85 | 0.96 | 0.96 | -40 | August | 2028-08-31 | 0 | 0 | 132 | 60 | 8,212.1 | 124,494.6387 | 131,433.7441 | 0.0341 | 89,027.2271 | 35,467.4116 | 28.49% | |
| C12 | Cerâmicas Lovredo, S.A. | PT | Ceramics | 0.23 | 2023-11-30 | -25 | Live | 110 | 36 | 41 | 61 | 0.001 | 45 | Standard | 0.93 | 0.84 | 0.96 | 0.96 | -25 | November | 2026-11-30 | 0 | 0 | 111 | 36 | 6,747 | 104,072.9071 | 106,750.7861 | 0.0285 | 65,827.9009 | 38,245.0062 | 36.75% | |
| C13 | Castelvi Imobiliária | PT | Real estate | 0.23 | 2025-03-31 | -9 | Live | 70 | 15 | 47 | 66 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.97 | -9 | March | 2028-03-31 | 3,150 | 3,150 | 71 | 15 | 4,439.5 | 67,907.2986 | 72,791.6452 | 0.0186 | 37,661.3032 | 30,245.9954 | 44.54% | |
| C14 | Agrícola Vinhedal | PT | Agrifood | 0.23 | 2023-05-31 | -31 | Live | 90 | 28 | 39 | 58 | 0.002 | 45 | Standard | 0.93 | 0.85 | 0.96 | 0.96 | -31 | May | 2029-05-31 | 0 | 0 | 92 | 28 | 5,347.51 | 82,748.2352 | 87,569.5222 | 0.0226 | 53,824.9735 | 28,923.2616 | 34.95% | |
| C15 | Engenharia Morvelo, Lda | PT | Engineering | 0.23 | 2024-05-31 | -19 | Live | 75 | 20 | 49 | 70 | 0.003 | 30 | Premium | 0.94 | 0.86 | 0.97 | 0.97 | -19 | May | 2027-05-31 | 0 | 0 | 78 | 20 | 5,357.77 | 79,565.0363 | 84,840.4237 | 0.0218 | 43,216.522 | 36,348.5143 | 45.68% | |
| C16 | Cooperativa Leiteira Bravanha | PT | Dairy | 0.23 | 2020-10-31 | -62 | Live | 160 | 52 | 36 | 57 | 0.001 | 60 | Standard | 0.92 | 0.8 | 0.95 | 0.95 | -62 | October | 2026-10-31 | 0 | 0 | 162 | 52 | 8,796 | 138,689.3356 | 141,611.61 | 0.038 | 95,064.2269 | 43,625.1087 | 31.46% | |
| C17 | Laboratórios Cendral, Lda | PT | Clinical laboratories | 0.23 | 2024-08-31 | -16 | Live | 115 | 42 | 46 | 68 | 0.004 | 30 | Premium | 0.95 | 0.88 | 0.97 | 0.97 | -16 | August | 2027-08-31 | 0 | 0 | 119 | 43 | 8,616.35 | 126,399.8555 | 135,999.2494 | 0.0346 | 73,532.7493 | 52,867.1062 | 41.83% | |
| C18 | Mediavir Seguros | PT | Insurance broking | 0.23 | 2025-06-30 | -6 | Live | 55 | 10 | 48 | 65 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.97 | -6 | June | 2028-06-30 | 2,475 | 2,475 | 56 | 10 | 3,424.79 | 52,208.6442 | 56,090.2968 | 0.0143 | 28,522.9919 | 23,685.6523 | 45.37% | |
| C19 | Construtora Arvedo, S.A. | PT | Construction | 0.23 | 2023-02-28 | -34 | Live | 145 | 38 | 38 | 60 | 0.002 | 60 | Standard | 0.92 | 0.82 | 0.95 | 0.95 | -34 | February | 2029-02-28 | 0 | 0 | 147 | 38 | 8,070.52 | 127,072.8725 | 134,856.1635 | 0.0348 | 81,914.7145 | 45,158.158 | 35.54% | |
| C20 | Distribuidora Pellano, Lda | PT | Wholesale | 0.23 | 2024-01-31 | -23 | Live | 125 | 40 | 39 | 58 | 0.002 | 45 | Standard | 0.93 | 0.84 | 0.96 | 0.96 | -23 | January | 2027-01-31 | 0 | 0 | 128 | 40 | 7,502.11 | 116,446.2095 | 120,557.877 | 0.0319 | 75,406.8676 | 41,039.3419 | 35.24% | |
| C21 | Gráfica Tornavel, Lda | PT | Printing | 0.23 | 2022-07-31 | -41 | Live | 65 | 24 | 42 | 60 | 0 | 45 | Standard | 0.92 | 0.82 | 0.95 | 0.95 | -41 | July | 2028-07-31 | 0 | 0 | 65 | 24 | 4,278.42 | 64,286.0137 | 66,238.7532 | 0.0176 | 40,590.9824 | 23,695.0313 | 36.86% | |
| C22 | Óticas Lumarel | PT | Optical retail | 0.23 | 2024-11-30 | -13 | Live | 95 | 50 | 37 | 44 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.97 | -13 | November | 2027-11-30 | 0 | 0 | 97 | 51 | 5,833 | 90,391.0375 | 96,844.5807 | 0.0247 | 69,366.2369 | 21,024.8006 | 23.26% | |
| C23 | Salmeira Arquitetos | PT | Architecture | 0.23 | 2025-09-30 | -3 | Live | 40 | 9 | 52 | 72 | 0.003 | 30 | Standard | 0.94 | 0.86 | 0.97 | 0.97 | -3 | September | 2028-09-30 | 1,800 | 1,800 | 41 | 9 | 2,780 | 42,244.0067 | 45,424.1906 | 0.0116 | 21,907.126 | 20,336.8807 | 48.14% | |
| C24 | Traslovia Transportes, Lda | PT | Logistics | 0.23 | 2023-05-31 | -31 | Not renewed Apr-26 | 150 | 40 | 39 | 60 | 0.001 | 45 | Standard | 0 | 0 | 0 | 0 | -31 | May | 2029-05-31 | 0 | 0 | 0 | 0 | 0 | 43,570.9323 | 0 | 0.0119 | 28,235.1472 | 15,335.7851 | 35.2% | Not renewed at the April 2026 term end: moved to a competitor offering a lower price per user with a remote-only service desk. |
| C25 | Conservas Brelmar, S.L. | ES | Seafood canning | 0 | 2024-04-30 | -20 | Live | 140 | 45 | 43 | 64 | 0.002 | 60 | Premium | 0.93 | 0.85 | 0.96 | 0.96 | -20 | April | 2027-04-30 | 0 | 0 | 143 | 47 | 9,395.08 | 140,957.5493 | 147,212.5128 | 0.0386 | 85,198.0088 | 55,759.5405 | 39.56% | |
| C26 | Talleres Brañoso, S.L. | ES | Industrial engineering | 0 | 2023-08-31 | -28 | Live | 90 | 34 | 44 | 66 | 0.002 | 60 | Standard | 0.93 | 0.85 | 0.96 | 0.96 | -28 | August | 2029-08-31 | 0 | 0 | 92 | 34 | 6,455.59 | 95,130.5378 | 100,753.2439 | 0.026 | 57,235.9637 | 37,894.5741 | 39.83% | Final milestone of project J11 (ERP hosting move) invoiced in June and disputed pending the performance acceptance test. |
| C27 | Clínica Veigadal, S.L. | ES | Healthcare | 0 | 2025-02-28 | -10 | Live | 70 | 18 | 47 | 64 | 0.003 | 45 | Standard | 0.94 | 0.86 | 0.97 | 0.97 | -10 | February | 2028-02-29 | 3,150 | 3,150 | 73 | 18 | 4,702.16 | 70,936.4588 | 76,744.7475 | 0.0194 | 39,926.5113 | 31,009.9475 | 43.72% | |
| C28 | Maderas Ouriñal, S.L. | ES | Timber | 0 | 2022-10-31 | -38 | Live | 80 | 30 | 41 | 59 | 0.001 | 60 | Standard | 0.92 | 0.82 | 0.95 | 0.95 | -38 | October | 2028-10-31 | 0 | 0 | 80 | 30 | 5,050 | 78,229.3826 | 81,455.8545 | 0.0214 | 50,446.4835 | 27,782.8991 | 35.51% | |
| C29 | Pesqueras Morazal, S.L. | ES | Fishing | 0 | 2023-12-31 | -24 | Live | 95 | 36 | 42 | 60 | 0.001 | 60 | Standard | 0.88 | 0.75 | 0.93 | 0.93 | -24 | December | 2026-12-31 | 0 | 0 | 95 | 36 | 6,150 | 93,469.529 | 92,782.0555 | 0.0256 | 59,544.2148 | 33,925.3142 | 36.3% | Renews December 2026; the owner has asked for a price reduction after two SLA breaches in the summer. |
| C30 | Bodegas Quenlla, S.L. | ES | Winery | 0 | 2024-07-31 | -17 | Live | 55 | 20 | 45 | 62 | 0.002 | 45 | Standard | 0.93 | 0.85 | 0.96 | 0.96 | -17 | July | 2027-07-31 | 0 | 0 | 56 | 20 | 3,857.76 | 57,404.144 | 59,827.8226 | 0.0157 | 34,562.0104 | 22,842.1336 | 39.79% | |
| C31 | Ferroval Automação, Lda | PT | Industrial automation | 0.23 | 2026-03-31 | 3 | Won in 2026 | 80 | 28 | 44 | 62 | 0.004 | 30 | Standard | 0.95 | 0.88 | 0.97 | 0.97 | 3 | March | 2029-03-31 | 3,600 | 3,600 | 81 | 29 | 5,362 | 67,612.4994 | 87,739.3076 | 0.0185 | 41,565.9268 | 26,046.5726 | 38.52% | |
| C32 | Clínica Dentária Rosmel | PT | Dental clinics | 0.23 | 2026-05-31 | 5 | Won in 2026 | 66 | 20 | 46 | 60 | 0.004 | 30 | Standard | 0.95 | 0.88 | 0.97 | 0.97 | 5 | May | 2029-05-31 | 2,970 | 2,970 | 67 | 20 | 4,282 | 43,725.1081 | 70,366.7885 | 0.012 | 26,087.2568 | 17,637.8512 | 40.34% | |
| C33 | Mobiliário Tarvela, Lda | PT | Furniture | 0.23 | 2026-07-31 | 7 | Won in 2026 | 108 | 33 | 41 | 60 | 0.003 | 45 | Standard | 0.95 | 0.88 | 0.97 | 0.97 | 7 | July | 2029-07-31 | 4,860 | 4,860 | 109 | 33 | 6,449 | 50,322.9109 | 105,995.0387 | 0.0138 | 32,016.9971 | 18,305.9137 | 36.38% | |
| P01 | Grupo Hospitalar Venara | PT | Hospitals | 0.23 | 2026-11-30 | 11 | Pipeline | 480 | 140 | 36 | 62 | 0.003 | 60 | Premium | 0.55 | 0.35 | 0.7 | 0.7 | 11 | November | 2026-11-30 | 21,600 | 15,120 | 0 | 0 | 0 | 48,138.9038 | 299,292.6858 | 0.0132 | 32,435.8378 | 15,703.066 | 32.62% | Hospital group tender: shortlisted with two competitors; decision expected in October for a November start. |
| P02 | Exportadora Linhelo, S.A. | PT | Food exports | 0.23 | 2027-01-31 | 13 | Pipeline | 120 | 40 | 42 | 60 | 0.003 | 45 | Standard | 0.5 | 0.3 | 0.65 | 0.65 | 13 | January | 2027-01-31 | 5,400 | 3,510 | 0 | 0 | 0 | 0 | 76,252.5445 | 0 | 0 | 0 | 0% | |
| P03 | Logística Crastova, Lda | PT | Logistics | 0.23 | 2027-02-28 | 14 | Pipeline | 140 | 55 | 40 | 55 | 0.002 | 45 | Standard | 0.45 | 0.25 | 0.6 | 0.6 | 14 | February | 2027-02-28 | 6,300 | 3,780 | 0 | 0 | 0 | 0 | 74,340.527 | 0 | 0 | 0 | 0% | |
| P04 | Conservas Galmira, S.L. | ES | Seafood canning | 0 | 2027-04-30 | 16 | Pipeline | 100 | 35 | 43 | 62 | 0.002 | 60 | Standard | 0.4 | 0.25 | 0.55 | 0.55 | 16 | April | 2027-04-30 | 4,500 | 2,475 | 0 | 0 | 0 | 0 | 41,282.3317 | 0 | 0 | 0 | 0% | |
| TOTAL | 3,775 | 1,174 | 59,805 | 46,890 | 3,951 | 1,225 | 236,994.81 | 3,653,706.8895 | 4,329,322.0448 | 1 | 2,326,866.4683 | 1,326,840.4212 | 36.31% |
| Code | Contract | Customer (fictional) | Project | Type | Fee (fixed fee) or rate per hour (T&M) | Start | Planned completion | Start no. | End no. | Own hours at completion (estimate) | Subcontract hours at completion | Own hours to 31-Dec-25 | Subcontract hours to 31-Dec-25 | Revenue to 31-Dec-25 | Billed to 31-Dec-25 | Downside overrun applies (1) | Country | Own hours to the last actual month | Subcontract hours to the last actual month | Own hours at completion, forecast (incl. scenario overrun) | Subcontract hours at completion, forecast | Progress at the last actual month | Revenue FY2026 | Billed FY2026 | Billed less revenue at the last actual month (+ ahead) | Onerous provision at the last actual month | Cost at completion (standard) | Margin at completion (standard cost) | Margin % | Note (fictional) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| J01 | C01 | Brevanor Têxteis, S.A. | ERP infrastructure and cloud migration | FF | 158,000 | 2025-11-30 | 2026-11-30 | -1 | 11 | 2,150 | 1,350 | 175 | 0 | 13,487.8 | 47,400 | 1 | PT | 1,415 | 980 | 2,150 | 1,350 | 0.6843 | 144,512.2 | 110,600 | 2,482.86 | 2,507.14 | 175,200 | -17,200 | -10.89% | Estimate at completion raised in June from 1,900 own + 150 subcontract hours to 2,150 + 1,350: the ERP data migration needed a specialist subcontractor. Loss-making at completion: provision under IAS 37. |
| J02 | C02 | Clínicas Almedra, Lda | Clinic network and Wi-Fi refresh | FF | 64,000 | 2026-01-31 | 2026-04-30 | 1 | 4 | 780 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 780 | 0 | 780 | 0 | 1 | 64,000 | 64,000 | 0 | 0 | 23,400 | 40,600 | 63.44% | |
| J03 | C12 | Cerâmicas Lovredo, S.A. | Server virtualisation | FF | 52,000 | 2026-03-31 | 2026-07-31 | 3 | 7 | 640 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 640 | 0 | 640 | 0 | 1 | 52,000 | 52,000 | 0 | 0 | 19,200 | 32,800 | 63.08% | |
| J04 | C25 | Conservas Brelmar, S.L. | Security hardening and SOC onboarding | TM | 68 | 2026-02-28 | 2026-09-30 | 2 | 9 | 880 | 0 | 0 | 0 | 0 | 0 | 0 | ES | 727 | 0 | 880 | 0 | 0.8261 | 59,840 | 59,840 | 0 | 0 | 26,400 | 33,440 | 55.88% | |
| J05 | C19 | Construtora Arvedo, S.A. | Construction site connectivity | TM | 60 | 2026-01-31 | 2026-12-31 | 1 | 12 | 1,680 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 1,074 | 0 | 1,680 | 0 | 0.6393 | 100,800 | 100,800 | 0 | 0 | 50,400 | 50,400 | 50% | |
| J06 | C31 | Ferroval Automação, Lda | Onboarding and migration | FF | 32,000 | 2026-03-31 | 2026-05-31 | 3 | 5 | 400 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 410 | 0 | 400 | 0 | 1 | 32,000 | 32,000 | 0 | 0 | 12,000 | 20,000 | 62.5% | |
| J07 | C07 | Quintas Delvara, S.A. | Productivity suite tenant migration | FF | 38,000 | 2026-06-30 | 2026-09-30 | 6 | 9 | 470 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 310 | 0 | 470 | 0 | 0.6596 | 38,000 | 38,000 | 1,536.17 | 0 | 14,100 | 23,900 | 62.89% | |
| J08 | C08 | Farmácias Oliveda | Store network upgrade (signed Aug-26) | FF | 88,000 | 2026-09-30 | 2027-01-31 | 9 | 13 | 1,100 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 0 | 0 | 1,100 | 0 | 0 | 70,400 | 61,600 | 0 | 0 | 33,000 | 55,000 | 62.5% | Signed in August; starts in September. |
| J09 | C17 | Laboratórios Cendral, Lda | Backup and disaster recovery | TM | 64 | 2026-01-31 | 2026-12-31 | 1 | 12 | 960 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 621 | 0 | 960 | 0 | 0.6469 | 61,440 | 61,440 | 0 | 0 | 28,800 | 32,640 | 53.12% | |
| J10 | C33 | Mobiliário Tarvela, Lda | Onboarding and migration | FF | 36,000 | 2026-07-31 | 2026-09-30 | 7 | 9 | 450 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 225 | 0 | 450 | 0 | 0.5 | 36,000 | 36,000 | 7,200 | 0 | 13,500 | 22,500 | 62.5% | |
| J11 | C26 | Talleres Brañoso, S.L. | ERP hosting move | FF | 72,000 | 2026-01-31 | 2026-06-30 | 1 | 6 | 880 | 0 | 0 | 0 | 0 | 0 | 0 | ES | 880 | 0 | 880 | 0 | 1 | 72,000 | 72,000 | 0 | 0 | 26,400 | 45,600 | 63.33% | Final milestone invoiced in June and disputed pending the performance acceptance test. |
| J12 | C32 | Clínica Dentária Rosmel | Onboarding and migration | FF | 24,000 | 2026-05-31 | 2026-07-31 | 5 | 7 | 300 | 0 | 0 | 0 | 0 | 0 | 0 | PT | 305 | 0 | 300 | 0 | 1 | 24,000 | 24,000 | 0 | 0 | 9,000 | 15,000 | 62.5% | |
| TOTAL | 175 | 0 | 13,487.8 | 47,400 | 7,387 | 980 | 754,992.2 | 712,280 | 11,219.03 | 2,507.14 |
| Measure | Jan-25 | Feb-25 | Mar-25 | Apr-25 | May-25 | Jun-25 | Jul-25 | Aug-25 | Sep-25 | Oct-25 | Nov-25 | Dec-25 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed services: fees | 198,180.03 | 203,256.83 | 208,618.07 | 209,706.43 | 210,578.13 | 214,324.84 | 214,973.11 | 216,129.73 | 219,101.62 | 220,060.95 | 220,925.5 | 221,378 | 2,557,233.24 |
| Managed services: SLA credits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,964.77 | 0 | 0 | 0 | 0 | -1,964.77 |
| Managed services: onboarding fees recognised | 0 | 87.5 | 175 | 175 | 175 | 243.75 | 243.75 | 243.75 | 293.75 | 293.75 | 293.75 | 293.75 | 2,518.75 |
| Licences bundled in managed contracts | 58,205.39 | 59,509.02 | 60,809.83 | 60,942.71 | 61,001.75 | 62,144.03 | 62,372.31 | 62,428.91 | 63,080.5 | 63,236.17 | 63,345.48 | 63,494.89 | 740,570.99 |
| Annual licences (recognised over 12 months) | 31,416.67 | 31,500 | 31,583.33 | 31,666.67 | 31,666.67 | 31,750 | 31,833.33 | 31,833.33 | 32,000 | 32,083.33 | 32,166.67 | 32,333.33 | 381,833.33 |
| Licences resold as agent: commission and incentive | 7,360.6 | 7,785.25 | 10,050.05 | 8,209.9 | 8,493 | 9,059.2 | 8,068.35 | 5,803.55 | 9,342.3 | 10,191.6 | 11,040.9 | 13,588.8 | 108,993.5 |
| Hardware | 238,000 | 251,000 | 292,000 | 268,000 | 281,000 | 329,000 | 262,000 | 171,000 | 334,000 | 361,000 | 302,000 | 279,000 | 3,368,000 |
| Projects | 96,000 | 101,000 | 108,000 | 104,000 | 99,000 | 112,000 | 94,000 | 61,000 | 107,000 | 118,000 | 118,165.85 | 114,321.95 | 1,232,487.8 |
| REVENUE | 629,162.69 | 654,138.6 | 711,236.28 | 682,700.71 | 691,914.55 | 758,521.82 | 673,490.85 | 546,474.5 | 764,818.17 | 804,865.8 | 747,938.15 | 724,410.72 | 8,389,672.84 |
| Hardware cost net of distributor rebates | 201,965.16 | 211,947.57 | 247,043.65 | 226,994.81 | 237,714.51 | 277,858.61 | 222,470.82 | 145,737.01 | 281,100.67 | 305,317.64 | 255,945.19 | 236,780.25 | 2,850,875.89 |
| Licence cost net of vendor incentives | 66,261.34 | 72,504.53 | 73,383.62 | 73,474.32 | 73,891.95 | 74,721.38 | 74,854.67 | 75,319.88 | 75,679.74 | 75,808.38 | 76,112.51 | 75,932.92 | 887,945.24 |
| Service tooling (EUR) | 20,475.95 | 20,702.78 | 20,263.55 | 19,567.52 | 19,489.64 | 19,329.54 | 19,082.25 | 19,180.23 | 19,184.06 | 19,376.08 | 19,533.18 | 19,311.67 | 235,496.45 |
| Colocation and backup storage | 8,795.4 | 8,810.7 | 8,828.7 | 8,830.5 | 8,830.5 | 8,843.1 | 8,843.1 | 8,843.1 | 8,853 | 8,853.9 | 8,855.7 | 8,856.6 | 106,044.3 |
| Field vans | 5,491.35 | 5,707.62 | 5,570.57 | 5,739.64 | 5,436.25 | 5,531.08 | 5,431.76 | 5,484.11 | 5,443.49 | 5,449.36 | 5,706.64 | 5,574.8 | 66,566.67 |
| Subcontractors | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 3,900 | 46,800 |
| Service delivery payroll | 107,133.9 | 106,242.93 | 106,242.93 | 102,679.05 | 105,351.96 | 102,679.05 | 98,224.2 | 91,096.43 | 103,570.02 | 106,242.93 | 107,133.9 | 102,679.05 | 1,239,276.35 |
| Project team payroll | 42,618.03 | 42,264.83 | 42,264.83 | 40,852.05 | 41,911.64 | 40,852.05 | 39,086.07 | 36,260.5 | 41,205.24 | 42,264.83 | 42,618.03 | 40,852.05 | 493,050.15 |
| Cost of revenue | 456,641.13 | 472,080.96 | 507,497.85 | 482,037.89 | 496,526.45 | 533,714.81 | 471,892.87 | 385,821.26 | 538,936.22 | 567,213.12 | 519,805.15 | 493,887.34 | 5,926,055.05 |
| Gross profit | 172,521.56 | 182,057.64 | 203,738.43 | 200,662.82 | 195,388.1 | 224,807.01 | 201,597.98 | 160,653.24 | 225,881.95 | 237,652.68 | 228,133 | 230,523.38 | 2,463,617.79 |
| Sales and marketing payroll incl. commissions | 23,060.92 | 22,943.23 | 23,144.15 | 22,300.91 | 22,908.83 | 22,599.84 | 21,364.49 | 19,467.32 | 22,805.75 | 23,482.28 | 23,374.55 | 22,354.82 | 269,807.09 |
| General and administrative payroll | 33,500.69 | 33,223.18 | 33,223.18 | 32,113.13 | 32,945.67 | 32,113.13 | 30,725.57 | 28,505.47 | 32,390.64 | 33,223.18 | 33,500.69 | 32,113.13 | 387,577.66 |
| Overheads | 37,104.05 | 37,353.19 | 44,927.43 | 37,690.59 | 43,553.57 | 37,420.87 | 37,536.59 | 35,134.83 | 37,479.53 | 42,199.61 | 38,143.74 | 37,467.66 | 466,011.66 |
| EBITDA | 78,855.9 | 88,538.04 | 102,443.67 | 108,558.19 | 95,980.03 | 132,673.17 | 111,971.33 | 77,545.62 | 133,206.03 | 138,747.61 | 133,114.02 | 138,587.77 | 1,340,221.38 |
| Depreciation and amortisation | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 9,266.67 | 111,200.04 |
| Interest on the bank loan | 6,304.17 | 6,180.56 | 6,056.94 | 5,933.33 | 5,809.72 | 5,686.11 | 5,562.5 | 5,438.89 | 5,315.28 | 5,191.67 | 5,068.06 | 4,944.44 | 67,491.67 |
| Exchange differences | 0 | 116.02 | 754.78 | 735.44 | 111.04 | 402.79 | 266.51 | -75.47 | 165.12 | -166.59 | -115.63 | 243.58 | 2,437.59 |
| Profit before tax | 63,285.06 | 73,206.83 | 87,874.84 | 94,093.63 | 81,014.68 | 118,123.18 | 97,408.67 | 62,764.59 | 118,789.2 | 124,122.68 | 118,663.66 | 124,620.24 | 1,163,967.26 |
| Managed users at month end | 3,460 | 3,540 | 3,613 | 3,623 | 3,633 | 3,695 | 3,701 | 3,708 | 3,751 | 3,758 | 3,769 | 3,775 | |
| Managed devices at month end | 1,106 | 1,123 | 1,143 | 1,145 | 1,145 | 1,159 | 1,159 | 1,159 | 1,170 | 1,171 | 1,173 | 1,174 | |
| Managed service fees a month (MRR) | 198,180.03 | 203,256.83 | 208,618.07 | 209,706.43 | 210,578.13 | 214,324.84 | 214,973.11 | 216,129.73 | 219,101.62 | 220,060.95 | 220,925.5 | 221,378 | 2,557,233.24 |
| Tickets | 1,780 | 1,738 | 1,695 | 1,654 | 1,705 | 1,698 | 1,706 | 1,550 | 1,883 | 1,841 | 1,890 | 1,671 | 20,811 |
| Service desk utilisation | 0.76 | 0.77 | 0.76 | 0.78 | 0.77 | 0.8 | 0.84 | 0.87 | 0.84 | 0.81 | 0.81 | 0.8 | 0.8008 |
| SLA attainment | 0.98 | 0.98 | 0.98 | 0.98 | 0.98 | 0.98 | 0.96 | 0.94 | 0.96 | 0.98 | 0.98 | 0.98 | 0.9733 |
| SLA credits | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,964.77 | 0 | 0 | 0 | 0 | 1,964.77 |
| Service desk FTE | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | |
| Headcount | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | 68 | |
| Annual licence billings | 228,000 | 12,000 | 18,000 | 14,000 | 9,000 | 16,000 | 11,000 | 6,000 | 22,000 | 15,000 | 12,000 | 25,000 | 388,000 |
| Licences resold as agent: gross billing | 52,000 | 55,000 | 71,000 | 58,000 | 60,000 | 64,000 | 57,000 | 41,000 | 66,000 | 72,000 | 78,000 | 96,000 | 770,000 |
| Hardware purchases | 184,753.5 | 236,817.27 | 256,493.92 | 225,167.71 | 247,739.63 | 308,535.43 | 197,807.35 | 107,639.59 | 352,453.12 | 321,214.25 | 247,632.34 | 215,669.89 | 2,901,924 |
| Rebates and incentives accrued | 12,669.48 | 9,164.74 | 10,247.72 | 9,026.23 | 9,539.02 | 11,353.35 | 8,283.93 | 5,501.8 | 12,669.19 | 11,885 | 10,141.68 | 10,116.62 | 120,598.76 |
| Corporate income tax paid (FY2024 balance in May, payments on account in July, September and December) | 0 | 0 | 0 | 0 | 21,450 | 0 | 47,500 | 0 | 47,500 | 0 | 0 | 47,500 | 163,950 |
| Capex | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 31,200 |
| Loan principal repaid | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 399,999.96 |
| contract | values | fy2025 |
|---|---|---|
| C01 Brevanor Têxteis, S.A. | [21519.52, 21519.52, 22096, 22211.5, 22288.5, 22442.5, 22404, 22365.5, 22365.5, 22327, 22365.5, 22250] | 266,155.04 |
| C02 Clínicas Almedra, Lda | [14450.74, 14579.52, 14622.44, 15032, 15076, 15178, 15266, 15266, 15266, 15310, 15456, 15500] | 181,002.7 |
| C03 Solvinha Calçado, Lda | [7814.64, 7814.64, 7814.64, 7814.64, 7853.66, 7853.66, 7853.66, 7853.66, 7853.66, 8050, 8050, 8090] | 94,716.86 |
| C04 Valcorra Advogados | [6263.42, 6263.42, 6420, 6472, 6472, 6472, 6472, 6524, 6524, 6472, 6524, 6524] | 77,402.84 |
| C05 Colégios Maravel | [12496.59, 12553.17, 12553.17, 12628.3, 12553.17, 12628.3, 12609.76, 12983, 12983, 13012, 13041, 13070] | 153,111.46 |
| C06 Metalúrgica Vaurinho, Lda | [7178, 7178, 7238, 7238, 7238, 7279, 7279, 7320, 7279, 7320, 7320, 7320] | 87,187 |
| C07 Quintas Delvara, S.A. | [5458.54, 5550, 5595, 5595, 5595, 5595, 5595, 5595, 5640, 5640, 5640, 5685] | 67,183.54 |
| C08 Farmácias Oliveda | [10623, 10701, 10746, 10785, 10908, 10908, 10908, 10908, 10947, 10986, 11070, 11070] | 130,560 |
| C09 Moldivel Plásticos, S.A. | [7894.64, 7872.2, 7911.22, 8011.71, 8011.71, 8011.71, 8315, 8315, 8355, 8395, 8435, 8435] | 97,963.19 |
| C10 Pravel Contabilidade, Lda | [3648.78, 3648.78, 3648.78, 3648.78, 3697.56, 3697.56, 3697.56, 3746.34, 3746.34, 3790, 3840, 3840] | 44,650.48 |
| C11 Hotéis Alvenosa | [7526.83, 7562.93, 7649.76, 7649.76, 7649.76, 7649.76, 7649.76, 7841, 7841, 7841, 7841, 7930] | 92,632.56 |
| C12 Cerâmicas Lovredo, S.A. | [6502.44, 6502.44, 6462.44, 6462.44, 6502.44, 6502.44, 6502.44, 6502.44, 6502.44, 6542.44, 6706, 6706] | 78,396.4 |
| C13 Castelvi Imobiliária | [0, 0, 4186, 4186, 4233, 4233, 4233, 4233, 4233, 4233, 4280, 4280] | 42,330 |
| C14 Agrícola Vinhedal | [4894.64, 4894.64, 4894.64, 4932.68, 5017, 5056, 5056, 5056, 5095, 5095, 5134, 5134] | 60,259.6 |
| C15 Engenharia Morvelo, Lda | [4855.61, 4903.42, 4903.42, 4903.42, 5026, 5026, 5026, 5026, 5075, 5075, 5075, 5075] | 59,969.87 |
| C16 Cooperativa Leiteira Bravanha | [8511.22, 8490.73, 8490.73, 8490.73, 8490.73, 8546.34, 8546.34, 8581.47, 8546.34, 8724, 8724, 8724] | 102,866.63 |
| C17 Laboratórios Cendral, Lda | [7701.47, 7746.34, 7746.34, 7746.34, 7746.34, 7746.34, 7791.22, 8032, 8032, 8100, 8146, 8146] | 94,680.39 |
| C18 Mediavir Seguros | [0, 0, 0, 0, 0, 3242, 3242, 3242, 3290, 3290, 3242, 3290] | 22,838 |
| C19 Construtora Arvedo, S.A. | [7504.39, 7654, 7714, 7714, 7714, 7752, 7752, 7752, 7790, 7790, 7790, 7790] | 92,716.39 |
| C20 Distribuidora Pellano, Lda | [7078, 7117, 7117, 7078, 7117, 7156, 7156, 7156, 7117, 7156, 7195, 7195] | 85,638 |
| C21 Gráfica Tornavel, Lda | [4068.29, 4109.27, 4068.29, 4109.27, 4109.27, 4068.29, 4170, 4170, 4170, 4170, 4170, 4170] | 49,552.68 |
| C22 Óticas Lumarel | [5352.2, 5388.29, 5388.29, 5424.39, 5424.39, 5467.32, 5503.42, 5460.49, 5539.51, 5539.51, 5678, 5715] | 65,880.81 |
| C23 Salmeira Arquitetos | [0, 0, 0, 0, 0, 0, 0, 0, 2728, 2728, 2728, 2728] | 10,912 |
| C24 Traslovia Transportes, Lda | [8048.78, 8010.73, 8048.78, 8048.78, 8250, 8250, 8250, 8250, 8211, 8250, 8250, 8250] | 98,118.07 |
| C25 Conservas Brelmar, S.L. | [8600, 8558.05, 8662.44, 8836, 8793, 8793, 8793, 8793, 8814, 8900, 8900, 8900] | 105,342.49 |
| C26 Talleres Brañoso, S.L. | [5923.9, 5923.9, 5966.83, 5966.83, 6009.76, 6009.76, 6052.68, 6204, 6204, 6204, 6204, 6204] | 72,873.66 |
| C27 Clínica Veigadal, S.L. | [0, 4348, 4348, 4395, 4395, 4395, 4395, 4442, 4442, 4442, 4442, 4442] | 48,486 |
| C28 Maderas Ouriñal, S.L. | [4789.27, 4789.27, 4789.27, 4789.27, 4829.27, 4829.27, 4829.27, 4886.83, 4886.83, 5009, 5009, 5050] | 58,486.55 |
| C29 Pesqueras Morazal, S.L. | [5982.44, 6040.98, 6000, 6000, 6040.98, 6000, 6000, 6000, 6000, 6000, 6000, 6150] | 72,214.4 |
| C30 Bodegas Quenlla, S.L. | [3492.68, 3536.59, 3536.59, 3536.59, 3536.59, 3536.59, 3625, 3625, 3625, 3670, 3670, 3715] | 43,105.63 |
| C31 Ferroval Automação, Lda | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| C32 Clínica Dentária Rosmel | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| C33 Mobiliário Tarvela, Lda | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P01 Grupo Hospitalar Venara | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P02 Exportadora Linhelo, S.A. | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P03 Logística Crastova, Lda | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
| P04 Conservas Galmira, S.L. | [0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0, 0] | 0 |
Receivables & payables
Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| Measure | Value |
|---|---|
| as at | 2026-08-31 |
| Counterparty (fictional) | Item / document | Group | Amount (EUR) | Due date | Days past due | Not yet due | 1 to 30 | 31 to 60 | 61 to 90 | Over 90 | Action / note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Brevanor Têxteis, S.A. | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 36,978.38 | 2026-09-14 | 0 | 36,978.38 | 0 | 0 | 0 | 0 | 45-day terms. |
| Cerâmicas Lovredo, S.A. | July invoice: hardware (incl. 23% VAT) | Portugal | 14,404.46 | 2026-09-14 | 0 | 14,404.46 | 0 | 0 | 0 | 0 | 45-day terms; EUR 14,885.90 received on 28-Aug-26, balance due. |
| Farmácias Oliveda | July invoice: hardware (incl. 23% VAT) | Portugal | 37,915.8 | 2026-09-14 | 0 | 37,915.8 | 0 | 0 | 0 | 0 | 45-day terms. |
| Moldivel Plásticos, S.A. | July invoice: hardware (incl. 23% VAT) | Portugal | 37,246.43 | 2026-09-14 | 0 | 37,246.43 | 0 | 0 | 0 | 0 | 45-day terms. |
| Construtora Arvedo, S.A. | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,915.93 | 2026-09-29 | 0 | 12,915.93 | 0 | 0 | 0 | 0 | 60-day terms. |
| Construtora Arvedo, S.A. | July invoice: project time and materials (J05 Construction site connectivity) (incl. 23% VAT) | Portugal | 10,036.8 | 2026-09-29 | 0 | 10,036.8 | 0 | 0 | 0 | 0 | 60-day terms. |
| Cooperativa Leiteira Bravanha | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 14,048.25 | 2026-09-29 | 0 | 14,048.25 | 0 | 0 | 0 | 0 | 60-day terms. |
| Moldivel Plásticos, S.A. | July invoice: managed services and licences (incl. 23% VAT) | Portugal | 13,617.7 | 2026-09-29 | 0 | 13,617.7 | 0 | 0 | 0 | 0 | 60-day terms. |
| Castelvi Imobiliária | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 6,718.12 | 2026-09-30 | 0 | 6,718.12 | 0 | 0 | 0 | 0 | 30-day terms. |
| Clínica Dentária Rosmel | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 6,448.07 | 2026-09-30 | 0 | 6,448.07 | 0 | 0 | 0 | 0 | 30-day terms. |
| Clínicas Almedra, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 24,860.44 | 2026-09-30 | 0 | 24,860.44 | 0 | 0 | 0 | 0 | 30-day terms. |
| Colégios Maravel | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 22,703.18 | 2026-09-30 | 0 | 22,703.18 | 0 | 0 | 0 | 0 | 30-day terms. |
| Engenharia Morvelo, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 7,946.14 | 2026-09-30 | 0 | 7,946.14 | 0 | 0 | 0 | 0 | 30-day terms. |
| Engenharia Morvelo, Lda | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 8,345.78 | 2026-09-30 | 0 | 8,345.78 | 0 | 0 | 0 | 0 | 30-day terms. |
| Farmácias Oliveda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 17,547.52 | 2026-09-30 | 0 | 17,547.52 | 0 | 0 | 0 | 0 | 30-day terms. |
| Ferroval Automação, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,016.01 | 2026-09-30 | 0 | 8,016.01 | 0 | 0 | 0 | 0 | 30-day terms. |
| Hotéis Alvenosa | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,455.79 | 2026-09-30 | 0 | 12,455.79 | 0 | 0 | 0 | 0 | 30-day terms. |
| Laboratórios Cendral, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,649.23 | 2026-09-30 | 0 | 12,649.23 | 0 | 0 | 0 | 0 | 30-day terms. |
| Laboratórios Cendral, Lda | August invoice: annual security and backup licences (incl. 23% VAT) | Portugal | 6,927.36 | 2026-09-30 | 0 | 6,927.36 | 0 | 0 | 0 | 0 | 30-day terms. |
| Laboratórios Cendral, Lda | August invoice: project time and materials (J09 Backup and disaster recovery) (incl. 23% VAT) | Portugal | 4,565.76 | 2026-09-30 | 0 | 4,565.76 | 0 | 0 | 0 | 0 | 30-day terms. |
| Mediavir Seguros | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 5,208.89 | 2026-09-30 | 0 | 5,208.89 | 0 | 0 | 0 | 0 | 30-day terms. |
| Mobiliário Tarvela, Lda | August invoice: project milestone (J10 Onboarding and migration) (incl. 23% VAT) | Portugal | 17,712 | 2026-09-30 | 0 | 17,712 | 0 | 0 | 0 | 0 | 30-day terms. |
| Pravel Contabilidade, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 5,860.64 | 2026-09-30 | 0 | 5,860.64 | 0 | 0 | 0 | 0 | 30-day terms. |
| Pravel Contabilidade, Lda | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 14,312.49 | 2026-09-30 | 0 | 14,312.49 | 0 | 0 | 0 | 0 | 30-day terms. |
| Quintas Delvara, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,950.12 | 2026-09-30 | 0 | 8,950.12 | 0 | 0 | 0 | 0 | 30-day terms. |
| Quintas Delvara, S.A. | August invoice: project milestone (J07 Productivity suite tenant migration) (incl. 23% VAT) | Portugal | 18,696 | 2026-09-30 | 0 | 18,696 | 0 | 0 | 0 | 0 | 30-day terms. |
| Salmeira Arquitetos | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 4,132.79 | 2026-09-30 | 0 | 4,132.79 | 0 | 0 | 0 | 0 | 30-day terms. |
| Salmeira Arquitetos | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 12,700.57 | 2026-09-30 | 0 | 12,700.57 | 0 | 0 | 0 | 0 | 30-day terms. |
| Valcorra Advogados | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 9,958.27 | 2026-09-30 | 0 | 9,958.27 | 0 | 0 | 0 | 0 | 30-day terms. |
| Valcorra Advogados | August invoice: software licences resold as agent, gross (incl. 23% VAT) | Portugal | 6,707.15 | 2026-09-30 | 0 | 6,707.15 | 0 | 0 | 0 | 0 | 30-day terms. |
| Óticas Lumarel | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,906.36 | 2026-09-30 | 0 | 8,906.36 | 0 | 0 | 0 | 0 | 30-day terms. |
| Agrícola Vinhedal | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 8,230.87 | 2026-10-15 | 0 | 8,230.87 | 0 | 0 | 0 | 0 | 45-day terms. |
| Brevanor Têxteis, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 36,138.5 | 2026-10-15 | 0 | 36,138.5 | 0 | 0 | 0 | 0 | 45-day terms. |
| Cerâmicas Lovredo, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 10,276.26 | 2026-10-15 | 0 | 10,276.26 | 0 | 0 | 0 | 0 | 45-day terms. |
| Cerâmicas Lovredo, S.A. | August invoice: hardware (incl. 23% VAT) | Portugal | 16,607.88 | 2026-10-15 | 0 | 16,607.88 | 0 | 0 | 0 | 0 | 45-day terms. |
| Clínicas Almedra, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 11,831.09 | 2026-10-15 | 0 | 11,831.09 | 0 | 0 | 0 | 0 | 45-day terms. |
| Colégios Maravel | August invoice: hardware (incl. 23% VAT) | Portugal | 24,686.58 | 2026-10-15 | 0 | 24,686.58 | 0 | 0 | 0 | 0 | 45-day terms. |
| Distribuidora Pellano, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 11,524.35 | 2026-10-15 | 0 | 11,524.35 | 0 | 0 | 0 | 0 | 45-day terms. |
| Distribuidora Pellano, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 14,571.43 | 2026-10-15 | 0 | 14,571.43 | 0 | 0 | 0 | 0 | 45-day terms. |
| Farmácias Oliveda | August invoice: hardware (incl. 23% VAT) | Portugal | 13,413.05 | 2026-10-15 | 0 | 13,413.05 | 0 | 0 | 0 | 0 | 45-day terms. |
| Ferroval Automação, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 13,057.53 | 2026-10-15 | 0 | 13,057.53 | 0 | 0 | 0 | 0 | 45-day terms. |
| Gráfica Tornavel, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 6,401.07 | 2026-10-15 | 0 | 6,401.07 | 0 | 0 | 0 | 0 | 45-day terms. |
| Metalúrgica Vaurinho, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 11,504.02 | 2026-10-15 | 0 | 11,504.02 | 0 | 0 | 0 | 0 | 45-day terms. |
| Mobiliário Tarvela, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 9,886.95 | 2026-10-15 | 0 | 9,886.95 | 0 | 0 | 0 | 0 | 45-day terms. |
| Mobiliário Tarvela, Lda | August invoice: hardware (incl. 23% VAT) | Portugal | 10,900.24 | 2026-10-15 | 0 | 10,900.24 | 0 | 0 | 0 | 0 | 45-day terms. |
| Moldivel Plásticos, S.A. | August invoice: hardware (incl. 23% VAT) | Portugal | 25,902.61 | 2026-10-15 | 0 | 25,902.61 | 0 | 0 | 0 | 0 | 45-day terms. |
| Solvinha Calçado, Lda | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,888.41 | 2026-10-15 | 0 | 12,888.41 | 0 | 0 | 0 | 0 | 45-day terms. |
| Construtora Arvedo, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 12,596.65 | 2026-10-30 | 0 | 12,596.65 | 0 | 0 | 0 | 0 | 60-day terms. |
| Construtora Arvedo, S.A. | August invoice: project time and materials (J05 Construction site connectivity) (incl. 23% VAT) | Portugal | 7,084.8 | 2026-10-30 | 0 | 7,084.8 | 0 | 0 | 0 | 0 | 60-day terms. |
| Cooperativa Leiteira Bravanha | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 13,769.35 | 2026-10-30 | 0 | 13,769.35 | 0 | 0 | 0 | 0 | 60-day terms. |
| Moldivel Plásticos, S.A. | August invoice: managed services and licences (incl. 23% VAT) | Portugal | 13,341.15 | 2026-10-30 | 0 | 13,341.15 | 0 | 0 | 0 | 0 | 60-day terms. |
| Talleres Brañoso, S.L. | June invoice: project J11 ERP hosting move, final milestone (30%) | Spain | 21,600 | 2026-07-30 | 32 | 0 | 0 | 21,600 | 0 | 0 | Disputed: the customer is withholding payment until the performance acceptance test is signed off. Test rerun booked for September; no credit expected. |
| Clínica Veigadal, S.L. | July invoice: managed services and licences | Spain | 3,903.24 | 2026-09-14 | 0 | 3,903.24 | 0 | 0 | 0 | 0 | 45-day terms; EUR 1,928.97 received on 28-Aug-26, balance due. |
| Conservas Brelmar, S.L. | July invoice: managed services and licences | Spain | 11,673.72 | 2026-09-29 | 0 | 11,673.72 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | July invoice: hardware (intra-EU supply, exempt) | Spain | 10,878.21 | 2026-09-29 | 0 | 10,878.21 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | July invoice: project time and materials (J04 Security hardening and SOC onboarding) | Spain | 7,072 | 2026-09-29 | 0 | 7,072 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | July invoice: hardware (intra-EU supply, exempt) | Spain | 12,641.79 | 2026-09-29 | 0 | 12,641.79 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | July invoice: managed services and licences | Spain | 6,418.97 | 2026-09-29 | 0 | 6,418.97 | 0 | 0 | 0 | 0 | 60-day terms. |
| Pesqueras Morazal, S.L. | July invoice: managed services and licences | Spain | 7,645.06 | 2026-09-29 | 0 | 7,645.06 | 0 | 0 | 0 | 0 | 60-day terms. |
| Talleres Brañoso, S.L. | July invoice: managed services and licences | Spain | 7,731.08 | 2026-09-29 | 0 | 7,731.08 | 0 | 0 | 0 | 0 | 60-day terms. |
| Bodegas Quenlla, S.L. | August invoice: managed services and licences | Spain | 4,647.03 | 2026-10-15 | 0 | 4,647.03 | 0 | 0 | 0 | 0 | 45-day terms. |
| Bodegas Quenlla, S.L. | August invoice: annual security and backup licences | Spain | 768 | 2026-10-15 | 0 | 768 | 0 | 0 | 0 | 0 | 45-day terms. |
| Clínica Veigadal, S.L. | August invoice: managed services and licences | Spain | 5,749.05 | 2026-10-15 | 0 | 5,749.05 | 0 | 0 | 0 | 0 | 45-day terms. |
| Clínica Veigadal, S.L. | August invoice: software licences resold as agent, gross | Spain | 3,800 | 2026-10-15 | 0 | 3,800 | 0 | 0 | 0 | 0 | 45-day terms. |
| Conservas Brelmar, S.L. | August invoice: managed services and licences | Spain | 11,434.57 | 2026-10-30 | 0 | 11,434.57 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | August invoice: hardware (intra-EU supply, exempt) | Spain | 5,492.21 | 2026-10-30 | 0 | 5,492.21 | 0 | 0 | 0 | 0 | 60-day terms. |
| Conservas Brelmar, S.L. | August invoice: project time and materials (J04 Security hardening and SOC onboarding) | Spain | 4,896 | 2026-10-30 | 0 | 4,896 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | August invoice: managed services and licences | Spain | 6,197.72 | 2026-10-30 | 0 | 6,197.72 | 0 | 0 | 0 | 0 | 60-day terms. |
| Maderas Ouriñal, S.L. | August invoice: hardware (intra-EU supply, exempt) | Spain | 9,027.79 | 2026-10-30 | 0 | 9,027.79 | 0 | 0 | 0 | 0 | 60-day terms. |
| Pesqueras Morazal, S.L. | August invoice: managed services and licences | Spain | 7,509.92 | 2026-10-30 | 0 | 7,509.92 | 0 | 0 | 0 | 0 | 60-day terms. |
| Talleres Brañoso, S.L. | August invoice: managed services and licences | Spain | 7,756.56 | 2026-10-30 | 0 | 7,756.56 | 0 | 0 | 0 | 0 | 60-day terms. |
| Value |
|---|
| TOTAL |
| 870,948.14 |
| 849,348.14 |
| 0 |
| 21,600 |
| 0 |
| 0 |
| label | values |
|---|---|
| Customers in Portugal: aging vs ledger | [null, null, 714105.22, "Ledger balance", 714105.2217, "Difference", 0, null] |
| Customers in Spain: aging vs ledger | [null, null, 156842.92, "Ledger balance", 156842.9203, "Difference", 0, null] |
| Measure | Value |
|---|---|
| as at | 2026-08-31 |
| Counterparty (fictional) | Item / document | Group | Amount (EUR) | Due date | Days past due | Not yet due | 1 to 30 | 31 to 60 | 61 to 90 | Over 90 | Action / note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Hardware distributor A (laptops and desktops) | August invoices: hardware purchases (incl. 23% VAT) | Hardware distributors | 61,729.02 | 2026-09-30 | 0 | 61,729.02 | 0 | 0 | 0 | 0 | Paid by transfer at 30 days. |
| Hardware distributor B (servers and networking) | August invoices: hardware purchases (incl. 23% VAT) | Hardware distributors | 37,833.92 | 2026-09-30 | 0 | 37,833.92 | 0 | 0 | 0 | 0 | Paid by transfer at 30 days. |
| Licence distributor | August invoice: bundled, annual and resold licences (incl. 23% VAT) | Licence distributor | 118,786.57 | 2026-09-30 | 0 | 118,786.57 | 0 | 0 | 0 | 0 | Paid by transfer at 30 days. |
| Service tooling vendor (USD) | August invoice: RMM, PSA, endpoint security and backup platforms (USD 23,442 at the August average rate) | Tooling vendor (USD) | 20,113.03 | 2026-09-15 | 0 | 20,113.03 | 0 | 0 | 0 | 0 | Paid by wire on the 15th; reverse charge. |
| Colocation and backup storage provider | August invoice: rack space, power and backup storage (incl. 23% VAT) | Other suppliers | 10,950.08 | 2026-09-30 | 0 | 10,950.08 | 0 | 0 | 0 | 0 | 30-day terms. |
| Specialist ERP data migration subcontractor | August invoice: J01 subcontract hours (incl. 23% VAT) | Other suppliers | 12,103.2 | 2026-09-30 | 0 | 12,103.2 | 0 | 0 | 0 | 0 | 30-day terms. |
| Cabling and electrical subcontractor | August invoice: site cabling (incl. 23% VAT) | Other suppliers | 1,845 | 2026-09-30 | 0 | 1,845 | 0 | 0 | 0 | 0 | 30-day terms. |
| Statutory auditor and legal advisers | August invoices: fees (incl. 23% VAT) | Other suppliers | 4,956.3 | 2026-09-30 | 0 | 4,956.3 | 0 | 0 | 0 | 0 | 30-day terms. |
| Marketing agency | August invoice: campaigns and events (incl. 23% VAT) | Other suppliers | 3,968.56 | 2026-09-30 | 0 | 3,968.56 | 0 | 0 | 0 | 0 | 30-day terms. |
| Training provider | August invoice: certifications (incl. 23% VAT) | Other suppliers | 4,688.93 | 2026-09-30 | 0 | 4,688.93 | 0 | 0 | 0 | 0 | 30-day terms. |
| Recruitment agency and job boards | August invoice (incl. 23% VAT) | Other suppliers | 489.02 | 2026-09-30 | 0 | 489.02 | 0 | 0 | 0 | 0 | 30-day terms. |
| Office services | August invoice: cleaning, utilities and supplies (incl. 23% VAT) | Other suppliers | 3,406.62 | 2026-09-30 | 0 | 3,406.62 | 0 | 0 | 0 | 0 | 30-day terms. |
| Occupational health provider | August invoice (VAT exempt) | Other suppliers | 447.76 | 2026-09-30 | 0 | 447.76 | 0 | 0 | 0 | 0 | 30-day terms. |
| IT equipment reseller | August invoice: laptops and replacements (incl. 23% VAT) | Other suppliers | 2,214 | 2026-09-30 | 0 | 2,214 | 0 | 0 | 0 | 0 | 30-day terms. |
| Value |
|---|
| TOTAL |
| 283,532.01 |
| 283,532.01 |
| 0 |
| 0 |
| 0 |
| 0 |
| label | values |
|---|---|
| Hardware distributors: aging vs schedule | [null, null, 99562.94, "Ledger balance", 99562.9463, "Difference", 0, null] |
| Licence distributor: aging vs schedule | [null, null, 118786.57, "Ledger balance", 118786.577, "Difference", 0, null] |
| Tooling vendor (USD): aging vs schedule | [null, null, 20113.03, "Ledger balance", 20113.033, "Difference", 0, null] |
| Other suppliers: aging vs schedule | [null, null, 45069.47, "Ledger balance", 45069.4557, "Difference", 0, null] |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Managed service fees | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | Contracts | 187,820.28 | 188,649.32 | 194,990.64 | 195,977.85 | 192,643.71 | 193,175.21 | 200,084.98 | 201,384.22 | 202,009.5867 | 202,725.8722 | 221,727.1101 | 222,320.6048 | 228,534.1935 | 234,693.4857 | 235,983.6226 | 237,208.8953 | 238,326.7045 | 239,092.7497 | 240,435.6533 | 241,784.9463 | 242,542.4959 | 243,903.4819 | 245,618.0129 | 246,281.0021 | 2,403,509.3838 | 2,874,405.2436 |
| Bundled licences | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | licences x share of users in Portugal | 56,576.3422 | 57,042.4949 | 58,369.5073 | 58,423.3464 | 57,173.7785 | 57,371.8855 | 59,352.4945 | 59,386.4429 | 59,634.0288 | 59,539.4418 | 65,497.4304 | 65,701.6675 | 69,190.6731 | 70,850.7207 | 70,683.8954 | 70,905.245 | 71,083.8995 | 71,306.6824 | 71,530.2709 | 71,453.9219 | 71,678.172 | 71,869.1735 | 72,039.5938 | 72,265.9843 | 714,068.8608 | 854,858.2325 |
| SLA credits of the prior month | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | credited x prior share of fees in Portugal | 0 | 0 | 0 | -2,744.9787 | -4,105.5586 | -4,601.5721 | -3,232.1069 | -9,616.8862 | -7,648.0094 | -7,108.7218 | -741.7569 | -11,086.3555 | -1,813.7112 | -3,232.8015 | -4,389.6618 | 0 | -2,102.6 | 0 | 0 | -1,800.6317 | -4,743.7901 | -2,396.6773 | 0 | 0 | -50,885.9462 | -20,479.8735 |
| Onboarding fees | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | Contracts | 0 | 0 | 3,600 | 0 | 2,970 | 0 | 4,860 | 0 | 0 | 0 | 15,120 | 0 | 3,510 | 3,780 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26,550 | 7,290 |
| Annual licences | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | billed x share in Portugal | 214,280 | 11,528 | 16,896 | 13,112 | 8,448 | 15,224 | 10,208 | 5,632 | 20,521.6 | 13,992 | 11,193.6 | 23,320 | 227,136.8 | 12,219.68 | 17,909.76 | 13,898.72 | 8,954.88 | 16,137.44 | 10,820.48 | 5,969.92 | 21,752.896 | 14,831.52 | 11,865.216 | 24,719.2 | 364,355.2 | 386,216.512 |
| Licences resold as agent (gross) | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | gross x share in Portugal | 44,100 | 48,600 | 59,400 | 51,300 | 52,200 | 54,900 | 49,500 | 34,200 | 60,486.03 | 64,443.06 | 68,965.38 | 74,618.28 | 46,353.78 | 49,745.52 | 61,051.32 | 52,571.97 | 54,267.84 | 57,659.58 | 52,006.68 | 36,178.56 | 60,486.03 | 64,443.06 | 68,965.38 | 74,618.28 | 662,712.75 | 678,348 |
| Hardware | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | revenue - Spain | 163,680 | 173,360 | 197,120 | 176,880 | 186,560 | 209,440 | 172,480 | 106,480 | 237,585.92 | 257,720.32 | 215,438.08 | 197,317.12 | 177,182.72 | 185,236.48 | 211,411.2 | 191,276.8 | 201,344 | 225,505.28 | 185,236.48 | 120,806.4 | 237,585.92 | 257,720.32 | 215,438.08 | 197,317.12 | 2,294,061.44 | 2,406,060.8 |
| Projects | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | Projects | 32,112 | 39,248 | 39,080 | 108,536 | 51,304 | 34,952 | 46,880 | 39,072 | 63,114 | 81,543.6238 | 158,533.6238 | 85,392.1 | 100,265 | 92,565 | 99,110 | 95,370 | 90,695 | 102,850 | 86,955 | 56,100 | 98,175 | 108,460 | 102,850 | 98,175 | 779,767.3476 | 1,131,570 |
| INVOICED IN PORTUGAL, EX VAT | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | 698,568.6222 | 518,427.8149 | 569,456.1473 | 601,484.2177 | 547,193.9299 | 560,461.5234 | 540,133.3676 | 436,537.7767 | 635,703.1561 | 672,855.5961 | 755,733.4674 | 657,583.4167 | 850,359.4555 | 645,858.085 | 691,760.1362 | 661,231.6303 | 662,569.724 | 712,551.7321 | 646,984.5642 | 530,493.1164 | 727,476.7238 | 758,830.8781 | 716,776.2827 | 713,376.5863 | 7,194,139.036 | 8,318,268.9145 | |
| Output VAT (23%) | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | 160,670.7831 | 119,238.3974 | 130,974.9139 | 138,341.3701 | 125,854.6039 | 128,906.1504 | 124,230.6746 | 100,403.6886 | 146,211.7259 | 154,756.7871 | 173,818.6975 | 151,244.1858 | 195,582.6748 | 148,547.3595 | 159,104.8313 | 152,083.275 | 152,391.0365 | 163,886.8984 | 148,806.4498 | 122,013.4168 | 167,319.6465 | 174,531.102 | 164,858.545 | 164,076.6149 | 1,654,651.9783 | 1,913,201.8503 | |
| INVOICED IN PORTUGAL, INCL. VAT | INVOICING: CUSTOMERS IN PORTUGAL (EUR ex VAT) | 859,239.4053 | 637,666.2123 | 700,431.0612 | 739,825.5878 | 673,048.5338 | 689,367.6738 | 664,364.0422 | 536,941.4654 | 781,914.882 | 827,612.3832 | 929,552.1649 | 808,827.6025 | 1,045,942.1302 | 794,405.4445 | 850,864.9675 | 813,314.9053 | 814,960.7605 | 876,438.6305 | 795,791.014 | 652,506.5332 | 894,796.3702 | 933,361.9801 | 881,634.8277 | 877,453.2012 | 8,848,791.0143 | 10,231,470.7649 | |
| Managed service fees | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 34,461 | 34,619.49 | 34,860.71 | 35,140.01 | 35,144.12 | 35,144.12 | 35,309.66 | 35,610.59 | 35,681.212 | 35,929.1347 | 36,000.29 | 35,959.2135 | 36,030.594 | 36,270.1213 | 36,342.4227 | 40,102.1895 | 40,182.8251 | 40,263.6569 | 40,397.9131 | 40,711.0672 | 40,793.1031 | 41,061.0418 | 41,143.6771 | 41,441.5018 | 423,859.5502 | 474,740.1136 | |
| Bundled licences | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 9,223.4578 | 9,282.7351 | 9,330.0527 | 9,328.2436 | 9,345.8815 | 9,352.5945 | 9,351.2455 | 9,381.3871 | 9,414.1838 | 9,436.3515 | 9,458.578 | 9,364.3837 | 9,668.1746 | 9,691.095 | 9,714.0767 | 10,619.43 | 10,644.8286 | 10,670.295 | 10,654.4614 | 10,679.9563 | 10,705.5192 | 10,731.1503 | 10,756.8499 | 10,782.6181 | 112,269.0948 | 125,318.4551 | |
| SLA credits of the prior month | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 0 | 0 | 0 | -490.7513 | -736.1514 | -839.4679 | -588.0131 | -1,697.1238 | -1,352.3906 | -1,255.6226 | -131.4617 | -1,800.0145 | -293.3584 | -509.682 | -678.3894 | 0 | -355.4625 | 0 | 0 | -302.5415 | -798.746 | -403.096 | 0 | 0 | -8,890.9969 | -3,341.2757 | |
| Onboarding fees | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,475 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,475 | |
| Annual licences | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 29,220 | 1,572 | 2,304 | 1,788 | 1,152 | 2,076 | 1,392 | 768 | 2,798.4 | 1,908 | 1,526.4 | 3,180 | 30,973.2 | 1,666.32 | 2,442.24 | 1,895.28 | 1,221.12 | 2,200.56 | 1,475.52 | 814.08 | 2,966.304 | 2,022.48 | 1,617.984 | 3,370.8 | 49,684.8 | 52,665.888 | |
| Licences resold as agent (gross) | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 4,900 | 5,400 | 6,600 | 5,700 | 5,800 | 6,100 | 5,500 | 3,800 | 6,720.67 | 7,160.34 | 7,662.82 | 8,290.92 | 5,150.42 | 5,527.28 | 6,783.48 | 5,841.33 | 6,029.76 | 6,406.62 | 5,778.52 | 4,019.84 | 6,720.67 | 7,160.34 | 7,662.82 | 8,290.92 | 73,634.75 | 75,372 | |
| Hardware (exempt intra-EU supply) | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | Hardware | 22,320 | 23,640 | 26,880 | 24,120 | 25,440 | 28,560 | 23,520 | 14,520 | 32,398.08 | 35,143.68 | 29,377.92 | 26,906.88 | 24,161.28 | 25,259.52 | 28,828.8 | 26,083.2 | 27,456 | 30,750.72 | 25,259.52 | 16,473.6 | 32,398.08 | 35,143.68 | 29,377.92 | 26,906.88 | 312,826.56 | 328,099.2 |
| Projects | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 21,600 | 6,460 | 36,824 | 7,616 | 7,480 | 29,488 | 7,072 | 4,896 | 10,404 | 11,828.7571 | 10,838.7571 | 12,507.9 | 13,035 | 16,335 | 17,490 | 16,830 | 16,005 | 18,150 | 15,345 | 9,900 | 17,325 | 19,140 | 18,150 | 17,325 | 167,015.4143 | 195,030 | |
| INVOICED IN SPAIN | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | 121,724.4578 | 80,974.2251 | 116,798.7627 | 83,201.5023 | 83,625.8501 | 109,881.2466 | 81,556.8924 | 67,278.8533 | 96,064.1552 | 100,150.6407 | 94,733.3035 | 94,409.2827 | 118,725.3102 | 94,239.6543 | 100,922.63 | 103,846.4294 | 101,184.0712 | 108,441.8519 | 98,910.9346 | 82,296.002 | 110,109.9303 | 114,855.5962 | 108,709.251 | 108,117.7199 | 1,130,399.1724 | 1,250,359.381 | |
| of which services to Spanish businesses (taxed in Spain; recapitulative statement) | INVOICING: CUSTOMERS IN SPAIN (EUR, no Portuguese VAT) | memo | 99,404.4578 | 57,334.2251 | 89,918.7627 | 59,081.5023 | 58,185.8501 | 81,321.2466 | 58,036.8924 | 52,758.8533 | 63,666.0752 | 65,006.9607 | 65,355.3835 | 67,502.4027 | 94,564.0302 | 68,980.1343 | 72,093.83 | 77,763.2294 | 73,728.0712 | 77,691.1319 | 73,651.4146 | 65,822.402 | 77,711.8503 | 79,711.9162 | 79,331.331 | 81,210.8399 | 817,572.6124 | 922,260.181 |
| Receivable per the collection days (forecast rule) | RECEIVABLE: CUSTOMERS IN PORTUGAL (incl. VAT) | invoicing still inside the days | 859,239.4053 | 866,796.7204 | 870,475.3844 | 926,607.2041 | 870,335.3572 | 868,847.2828 | 848,195.4219 | 714,105.2099 | 925,099.2727 | 1,036,123.0184 | 1,150,248.8004 | 1,056,708.1798 | 1,261,629.4909 | 1,073,323.3459 | 1,062,706.4193 | 1,040,212.2299 | 1,031,844.7352 | 1,093,761.5 | 1,029,507.9822 | 864,717.4703 | 1,068,798.1124 | 1,171,974.3455 | 1,130,531.3557 | 1,112,555.8219 | 1,056,708.1798 | 1,112,555.8219 |
| Cash received | RECEIVABLE: CUSTOMERS IN PORTUGAL (incl. VAT) | A: bank; F: opening + invoiced - receivable per the rule | 858,639.12 | 855,237.39 | 696,752.39 | 683,693.77 | 729,320.38 | 690,855.75 | 685,015.9 | 671,031.68 | 570,920.8309 | 716,588.6375 | 815,426.3829 | 902,368.2231 | 841,020.8192 | 982,711.5895 | 861,481.894 | 835,809.0947 | 823,328.2552 | 814,521.8658 | 860,044.5318 | 817,297.0451 | 690,715.7281 | 830,185.747 | 923,077.8175 | 895,428.735 | 8,875,850.4544 | 10,175,623.1228 |
| RECEIVABLE: CUSTOMERS IN PORTUGAL | RECEIVABLE: CUSTOMERS IN PORTUGAL (incl. VAT) | opening + invoiced - received | 1,084,367.9053 | 866,796.7276 | 870,475.3987 | 926,607.2165 | 870,335.3704 | 868,847.2941 | 848,195.4363 | 714,105.2217 | 925,099.2727 | 1,036,123.0184 | 1,150,248.8004 | 1,056,708.1798 | 1,261,629.4909 | 1,073,323.3459 | 1,062,706.4193 | 1,040,212.2299 | 1,031,844.7352 | 1,093,761.5 | 1,029,507.9822 | 864,717.4703 | 1,068,798.1124 | 1,171,974.3455 | 1,130,531.3557 | 1,112,555.8219 | 1,056,708.1798 | 1,112,555.8219 |
| Disputed J11 final milestone still open | RECEIVABLE: CUSTOMERS IN SPAIN | A: from June; F: until settled | 0 | 0 | 0 | 0 | 0 | 21,600 | 21,600 | 21,600 | 21,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivable on current invoices per the collection days (forecast rule) | RECEIVABLE: CUSTOMERS IN SPAIN | 121,724.4578 | 182,411.2733 | 184,277.2837 | 180,533.8045 | 152,960.4353 | 179,569.455 | 173,124.5979 | 135,242.9303 | 152,129.8663 | 180,204.1034 | 178,192.1707 | 173,353.7023 | 197,399.7124 | 193,177.4128 | 179,455.6752 | 187,948.6211 | 187,722.7624 | 192,761.9113 | 189,279.1445 | 164,721.7808 | 178,689.9319 | 206,613.8714 | 204,422.2479 | 198,708.7624 | 173,353.7023 | 198,708.7624 | |
| Cash received on current invoices | RECEIVABLE: CUSTOMERS IN SPAIN | A: bank; F: opening current balance + invoiced - receivable per the rule | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 79,177.2092 | 72,076.4036 | 96,745.2361 | 99,247.7511 | 94,679.3 | 98,461.9539 | 114,644.3675 | 95,353.4836 | 101,409.9299 | 103,402.7031 | 102,393.7013 | 106,853.3657 | 96,141.7791 | 86,931.6567 | 110,900.8746 | 113,831.2053 | 1,128,766.8801 | 1,225,004.3208 |
| Disputed milestone collected | RECEIVABLE: CUSTOMERS IN SPAIN | drivers: month and share credited | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,600 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21,600 | 0 |
| Credit note on the disputed milestone | RECEIVABLE: CUSTOMERS IN SPAIN | 0 | 0 | 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 | RECEIVABLE: CUSTOMERS IN SPAIN | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 79,177.2092 | 93,676.4036 | 96,745.2361 | 99,247.7511 | 94,679.3 | 98,461.9539 | 114,644.3675 | 95,353.4836 | 101,409.9299 | 103,402.7031 | 102,393.7013 | 106,853.3657 | 96,141.7791 | 86,931.6567 | 110,900.8746 | 113,831.2053 | 1,150,366.8801 | 1,225,004.3208 | |
| RECEIVABLE: CUSTOMERS IN SPAIN | RECEIVABLE: CUSTOMERS IN SPAIN | opening + invoiced - received - credit notes | 209,645.7178 | 182,411.273 | 184,277.2757 | 180,533.798 | 152,960.428 | 179,569.4446 | 176,724.587 | 156,842.9203 | 173,729.8663 | 180,204.1034 | 178,192.1707 | 173,353.7023 | 197,399.7124 | 193,177.4128 | 179,455.6752 | 187,948.6211 | 187,722.7624 | 192,761.9113 | 189,279.1445 | 164,721.7808 | 178,689.9319 | 206,613.8714 | 204,422.2479 | 198,708.7624 | 173,353.7023 | 198,708.7624 |
| Customer receivables | TOTALS | 1,294,013.6231 | 1,049,208.0005 | 1,054,752.6744 | 1,107,141.0145 | 1,023,295.7984 | 1,048,416.7387 | 1,024,920.0233 | 870,948.1419 | 1,098,829.1391 | 1,216,327.1217 | 1,328,440.9711 | 1,230,061.8821 | 1,459,029.2033 | 1,266,500.7587 | 1,242,162.0946 | 1,228,160.851 | 1,219,567.4976 | 1,286,523.4112 | 1,218,787.1266 | 1,029,439.2511 | 1,247,488.0444 | 1,378,588.2169 | 1,334,953.6035 | 1,311,264.5843 | 1,230,061.8821 | 1,311,264.5843 | |
| Invoiced incl. VAT | TOTALS | 980,963.8631 | 718,640.4374 | 817,229.8239 | 823,027.0901 | 756,674.3839 | 799,248.9204 | 745,920.9346 | 604,220.3186 | 877,979.0372 | 927,763.0238 | 1,024,285.4684 | 903,236.8852 | 1,164,667.4404 | 888,645.0988 | 951,787.5974 | 917,161.3347 | 916,144.8317 | 984,880.4824 | 894,701.9486 | 734,802.5352 | 1,004,906.3005 | 1,048,217.5762 | 990,344.0787 | 985,570.9211 | 9,979,190.1866 | 11,481,830.1458 | |
| Debtor days (receivables / invoicing of the last three months x days) | TOTALS | 40.8929 | 36.4222 | 37.7171 | 41.7719 | 39.2766 | 40.1042 | 40.964 | 37.2791 | 45.3711 | 46.4331 | 42.7162 | 39.6338 | 43.4096 | 38.5534 | 37.2016 | 39.6383 | 40.286 | 41.5422 | 40.1071 | 36.2259 | 43.5653 | 45.4926 | 39.9152 | 39.8912 | 39.6338 | 39.8912 | |
| TOTAL CASH RECEIVED FROM CUSTOMERS | TOTALS | 964,039.27 | 963,446.06 | 811,685.15 | 770,638.75 | 840,519.6 | 774,127.98 | 769,417.65 | 758,192.2 | 650,098.0401 | 810,265.0412 | 912,171.619 | 1,001,615.9742 | 935,700.1192 | 1,081,173.5434 | 976,126.2616 | 931,162.5783 | 924,738.1851 | 917,924.5688 | 962,438.2332 | 924,150.4108 | 786,857.5072 | 917,117.4037 | 1,033,978.6921 | 1,009,259.9403 | 10,026,217.3345 | 11,400,627.4436 |
| 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 incl. VAT | HARDWARE DISTRIBUTORS (incl. VAT, 30 days) | purchases x 1.23 | 171,017.478 | 213,959.7546 | 259,420.5792 | 209,385.4092 | 218,285.2587 | 272,849.1534 | 190,772.2128 | 99,562.9404 | 357,399.6786 | 318,998.0258 | 241,864.2465 | 225,267.3659 | 203,696.1437 | 239,744.3793 | 259,657.4877 | 224,265.1515 | 246,014.7784 | 290,610.6961 | 198,323.0151 | 111,135.6085 | 356,158.6669 | 318,998.0258 | 241,864.2465 | 225,267.3659 | 2,778,782.1031 | 2,915,735.5656 |
| Paid | HARDWARE DISTRIBUTORS (incl. VAT, 30 days) | A: bank; F: prior balance | 265,273.96 | 171,017.48 | 213,959.75 | 259,420.58 | 209,385.41 | 218,285.26 | 272,849.15 | 190,772.21 | 99,562.9463 | 357,399.6786 | 318,998.0258 | 241,864.2465 | 225,267.3659 | 203,696.1437 | 239,744.3793 | 259,657.4877 | 224,265.1515 | 246,014.7784 | 290,610.6961 | 198,323.0151 | 111,135.6085 | 356,158.6669 | 318,998.0258 | 241,864.2465 | 2,818,788.6972 | 2,915,735.5656 |
| Payable: hardware distributors | HARDWARE DISTRIBUTORS (incl. VAT, 30 days) | 171,017.478 | 213,959.7526 | 259,420.5818 | 209,385.411 | 218,285.2597 | 272,849.1531 | 190,772.2159 | 99,562.9463 | 357,399.6786 | 318,998.0258 | 241,864.2465 | 225,267.3659 | 203,696.1437 | 239,744.3793 | 259,657.4877 | 224,265.1515 | 246,014.7784 | 290,610.6961 | 198,323.0151 | 111,135.6085 | 356,158.6669 | 318,998.0258 | 241,864.2465 | 225,267.3659 | 225,267.3659 | 225,267.3659 | |
| Invoices incl. VAT | LICENCE DISTRIBUTOR (incl. VAT, 30 days) | bundled + annual + agent vendor cost x 1.23 | 349,276.4457 | 139,566.9684 | 159,995.6817 | 146,302.4484 | 141,212.0934 | 151,673.022 | 141,778.3239 | 118,786.5735 | 166,629.434 | 164,404.0745 | 173,108.6198 | 192,941.5708 | 379,201.6089 | 156,750.244 | 176,319.7162 | 162,972.6415 | 159,983.897 | 171,973.7269 | 159,704.1325 | 135,354.617 | 181,779.6329 | 179,438.1364 | 181,960.431 | 202,713.7909 | 2,045,675.2562 | 2,248,152.5752 |
| Paid | LICENCE DISTRIBUTOR (incl. VAT, 30 days) | A: bank; F: prior balance | 193,719.66 | 349,276.45 | 139,566.97 | 159,995.68 | 146,302.45 | 141,212.09 | 151,673.02 | 141,778.32 | 118,786.577 | 166,629.434 | 164,404.0745 | 173,108.6198 | 192,941.5708 | 379,201.6089 | 156,750.244 | 176,319.7162 | 162,972.6415 | 159,983.897 | 171,973.7269 | 159,704.1325 | 135,354.617 | 181,779.6329 | 179,438.1364 | 181,960.431 | 2,046,453.3454 | 2,238,380.3551 |
| Payable: licence distributor | LICENCE DISTRIBUTOR (incl. VAT, 30 days) | 349,276.4457 | 139,566.9641 | 159,995.6758 | 146,302.4442 | 141,212.0876 | 151,673.0196 | 141,778.3235 | 118,786.577 | 166,629.434 | 164,404.0745 | 173,108.6198 | 192,941.5708 | 379,201.6089 | 156,750.244 | 176,319.7162 | 162,972.6415 | 159,983.897 | 171,973.7269 | 159,704.1325 | 135,354.617 | 181,779.6329 | 179,438.1364 | 181,960.431 | 202,713.7909 | 192,941.5708 | 202,713.7909 | |
| Invoices (USD) | SERVICE TOOLING VENDOR IN USD (reverse charge) | Overheads | 22,632.54 | 22,681.16 | 23,112.28 | 23,160.22 | 22,810.7 | 22,847.76 | 23,386.32 | 23,441.74 | 23,491.2303 | 23,466.5035 | 25,084.4939 | 25,106.3174 | 25,517.1224 | 25,982.7367 | 25,943.4216 | 26,244.3178 | 26,291.9718 | 26,350.9202 | 26,398.6839 | 26,378.7835 | 26,438.065 | 26,489.1986 | 26,531.959 | 26,591.7555 | 281,221.2652 | 315,158.9358 |
| Invoices (EUR at the rate of the month) | SERVICE TOOLING VENDOR IN USD (reverse charge) | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 19,907.8223 | 19,886.8674 | 21,258.0457 | 21,276.5402 | 21,624.68 | 22,019.2684 | 21,985.9505 | 22,240.9473 | 22,281.332 | 22,331.2883 | 22,371.766 | 22,354.9012 | 22,405.1398 | 22,448.4734 | 22,484.711 | 22,535.386 | 240,697.5025 | 267,083.8439 | |
| Paid (EUR debited) | SERVICE TOOLING VENDOR IN USD (reverse charge) | A: bank; F: prior month USD / rate of this month | 19,321.57 | 19,196.39 | 19,532.52 | 20,019.3 | 20,160.36 | 19,710.27 | 19,650.61 | 20,065.48 | 19,865.8814 | 19,907.8223 | 19,886.8674 | 21,258.0457 | 21,276.5402 | 21,624.68 | 22,019.2684 | 21,985.9505 | 22,240.9473 | 22,281.332 | 22,331.2883 | 22,371.766 | 22,354.9012 | 22,405.1398 | 22,448.4734 | 22,484.711 | 238,575.1168 | 265,824.9981 |
| Exchange difference on settlement: gain (+) / loss (-) | SERVICE TOOLING VENDOR IN USD (reverse charge) | balance booked less EUR paid | -9.9 | 144.3552 | -294.8949 | -115.5108 | -99.5371 | 145.8407 | 91.6867 | 48.3241 | 247.1517 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 157.5155 | 0 |
| Payable: tooling vendor in USD (EUR) | SERVICE TOOLING VENDOR IN USD (reverse charge) | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 19,907.8223 | 19,886.8674 | 21,258.0457 | 21,276.5402 | 21,624.68 | 22,019.2684 | 21,985.9505 | 22,240.9473 | 22,281.332 | 22,331.2883 | 22,371.766 | 22,354.9012 | 22,405.1398 | 22,448.4734 | 22,484.711 | 22,535.386 | 21,276.5402 | 22,535.386 | |
| Invoices carrying Portuguese VAT, ex VAT | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 30,764.34 | 36,114.37 | 57,486.13 | 41,752.81 | 49,565.44 | 49,165.46 | 48,129.23 | 36,277.81 | 39,438.455 | 65,100.4171 | 57,673.4776 | 41,875.1744 | 57,109.9751 | 45,874.9187 | 57,826.4334 | 49,939.8475 | 51,572.6722 | 51,041.7881 | 45,328.3974 | 38,082.7172 | 46,959.043 | 54,215.701 | 47,623.4915 | 46,962.2343 | 553,343.1141 | 592,537.2194 | |
| Invoices incl. VAT (and the VAT-exempt OHS provider) | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 38,265.7182 | 44,873.8951 | 71,149.6399 | 51,792.6263 | 61,416.5312 | 60,928.0358 | 59,626.6229 | 45,069.4663 | 48,959.2996 | 80,523.5131 | 71,388.3774 | 51,956.4645 | 70,706.5194 | 56,887.4001 | 71,587.7631 | 61,887.2624 | 63,895.6368 | 63,242.6494 | 56,215.1788 | 47,302.9922 | 58,220.8729 | 67,146.5622 | 59,038.1445 | 58,224.7982 | 685,950.1903 | 734,355.7799 | |
| Paid | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | A: bank; F: prior balance | 41,041.89 | 38,265.72 | 44,873.9 | 71,149.64 | 51,792.63 | 61,416.53 | 60,928.04 | 59,626.62 | 45,069.4557 | 48,959.2996 | 80,523.5131 | 71,388.3774 | 51,956.4645 | 70,706.5194 | 56,887.4001 | 71,587.7631 | 61,887.2624 | 63,895.6368 | 63,242.6494 | 56,215.1788 | 47,302.9922 | 58,220.8729 | 67,146.5622 | 59,038.1445 | 675,035.6158 | 728,087.4462 |
| Payable: other suppliers | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 38,265.7182 | 44,873.8933 | 71,149.6332 | 51,792.6195 | 61,416.5207 | 60,928.0265 | 59,626.6094 | 45,069.4557 | 48,959.2996 | 80,523.5131 | 71,388.3774 | 51,956.4645 | 70,706.5194 | 56,887.4001 | 71,587.7631 | 61,887.2624 | 63,895.6368 | 63,242.6494 | 56,215.1788 | 47,302.9922 | 58,220.8729 | 67,146.5622 | 59,038.1445 | 58,224.7982 | 51,956.4645 | 58,224.7982 | |
| TOTAL TRADE PAYABLES | OTHER SUPPLIERS: ADVISERS, MARKETING, TRAINING, RECRUITMENT, OFFICE, OHS, COLOCATION, SUBCONTRACTORS, IT EQUIPMENT (30 days) | 577,900.3871 | 417,638.2351 | 510,469.68 | 427,541.2976 | 440,769.9787 | 505,192.4959 | 412,290.9529 | 283,532.012 | 592,896.2345 | 583,812.4808 | 507,619.2894 | 491,441.9414 | 675,228.9519 | 475,401.2918 | 529,550.9174 | 471,366.0027 | 492,175.6442 | 548,158.3608 | 436,614.0924 | 316,148.119 | 618,564.3125 | 588,031.1978 | 505,347.533 | 508,741.3411 | 491,441.9414 | 508,741.3411 |
13-week cash forecast
Upside · EUR · 2026-01 to 2027-12 · A: actual · F: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Customer receipts: Portugal, incl. VAT (collected through the month) | 133,214.7272 | 133,214.7272 | 141,384.9016 | 161,810.3375 | 161,810.3375 | 161,810.3375 | 161,810.3375 | 186,201.0391 | 190,266.156 | 190,266.156 | 190,266.156 | 197,977.2477 | 203,760.5665 |
| Customer receipts: Spain | 18,474.5508 | 18,474.5508 | 19,239.7466 | 21,152.7363 | 21,152.7363 | 21,152.7363 | 21,152.7363 | 22,370.8667 | 22,573.8884 | 22,573.8884 | 22,573.8884 | 22,480.6851 | 22,410.7825 |
| Distributor rebate and licence incentives (end of the second month after the quarter) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18,318.5778 | 0 |
| TOTAL RECEIPTS | 151,689.2779 | 151,689.2779 | 160,624.6482 | 182,963.0738 | 182,963.0738 | 182,963.0738 | 182,963.0738 | 208,571.9058 | 212,840.0444 | 212,840.0444 | 212,840.0444 | 238,776.5106 | 226,171.349 |
| Net pay and meal cards (last working day; November carries the Christmas allowance) | 0 | 0 | -107,045.967 | 0 | 0 | 0 | -110,970.1605 | 0 | 0 | 0 | 0 | -210,079.2583 | 0 |
| Social security for the prior month (20th) | 0 | -46,692.32 | 0 | 0 | 0 | -44,543.7697 | 0 | 0 | 0 | -45,882.4324 | 0 | 0 | 0 |
| IRS withheld for the prior month (20th) | 0 | -20,916.9 | 0 | 0 | 0 | -19,986.6785 | 0 | 0 | 0 | -20,395.2375 | 0 | 0 | 0 |
| IRC withheld on rent (20th) | 0 | -2,625 | 0 | 0 | 0 | -2,625 | 0 | 0 | 0 | -2,625 | 0 | 0 | 0 |
| Work accident and health insurance (direct debit) | 0 | 0 | 0 | 0 | -3,602.7723 | 0 | 0 | 0 | -3,703.138 | 0 | 0 | 0 | -3,700.6751 |
| Direct debits: insurance, travel, telecoms and field vans | 0 | 0 | 0 | 0 | -15,686.0452 | 0 | 0 | 0 | -15,687.328 | 0 | 0 | 0 | -15,687.9506 |
| Rent, net of the IRC withheld (first working day) | 0 | 0 | -7,875 | 0 | 0 | 0 | 0 | -7,875 | 0 | 0 | 0 | -7,875 | 0 |
| Hardware distributors (30 days) | -23,231.5065 | -23,231.5065 | -39,651.977 | -80,703.1532 | -80,703.1532 | -80,703.1532 | -80,703.1532 | -75,328.627 | -74,432.8727 | -74,432.8727 | -74,432.8727 | -63,108.0924 | -54,614.5073 |
| Licence distributor (30 days) | -27,716.8968 | -27,716.8968 | -30,548.0695 | -37,626.0012 | -37,626.0012 | -37,626.0012 | -37,626.0012 | -38,255.9579 | -38,360.9507 | -38,360.9507 | -38,360.9507 | -38,777.0036 | -39,089.0432 |
| Tooling vendor in USD (wire on the 15th) | -19,865.8814 | 0 | 0 | 0 | -19,907.8223 | 0 | 0 | 0 | 0 | -19,886.8674 | 0 | 0 | 0 |
| Other suppliers incl. VAT and IT equipment (30 days) | -10,516.3784 | -10,516.3784 | -10,670.3634 | -11,055.3257 | -11,055.3257 | -11,055.3257 | -11,055.3257 | -17,684.0349 | -18,788.8197 | -18,788.8197 | -18,788.8197 | -17,263.7548 | -16,119.9562 |
| VAT (25th; the September payment covers June and July) | 0 | -87,264.6245 | 0 | 0 | 0 | 0 | -50,238.0505 | 0 | 0 | 0 | -38,185.6976 | 0 | 0 |
| IRC payments on account (30 September and 15 December) | 0 | 0 | -73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Loan instalment: principal and interest (month end) | 0 | 0 | -37,337.4968 | 0 | 0 | 0 | 0 | -37,208.3301 | 0 | 0 | 0 | -37,079.1635 | 0 |
| TOTAL PAYMENTS | -81,330.6631 | -218,963.6263 | -306,213.4662 | -129,384.4802 | -168,581.1199 | -196,539.9284 | -290,592.6912 | -176,351.95 | -150,973.1091 | -220,372.1805 | -169,768.3407 | -374,182.2726 | -129,212.1324 |
| NET CASH FLOW FOR THE WEEK | 70,358.6148 | -67,274.3483 | -145,588.818 | 53,578.5936 | 14,381.9539 | -13,576.8546 | -107,629.6174 | 32,219.9558 | 61,866.9353 | -7,532.136 | 43,071.7037 | -135,405.762 | 96,959.2166 |
| Opening cash | 956,726.3633 | 1,027,084.9781 | 959,810.6298 | 814,221.8118 | 867,800.4054 | 882,182.3593 | 868,605.5047 | 760,975.8872 | 793,195.8431 | 855,062.7784 | 847,530.6423 | 890,602.346 | 755,196.584 |
| CLOSING CASH | 1,027,084.9781 | 959,810.6298 | 814,221.8118 | 867,800.4054 | 882,182.3593 | 868,605.5047 | 760,975.8872 | 793,195.8431 | 855,062.7784 | 847,530.6423 | 890,602.346 | 755,196.584 | 852,155.8006 |
| Minimum cash buffer (board policy) | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 | 400,000 |
| HEADROOM / (SHORTFALL) VS BUFFER | 627,084.9781 | 559,810.6298 | 414,221.8118 | 467,800.4054 | 482,182.3593 | 468,605.5047 | 360,975.8872 | 393,195.8431 | 455,062.7784 | 447,530.6423 | 490,602.346 | 355,196.584 | 452,155.8006 |
| Status | OK | OK | OK | OK | OK | OK | OK | OK | OK | OK | OK | OK | OK |
| Measure | Value |
|---|---|
| low | 755,196.584 |
| lowwk | 2026-12-04 |
| short | 355,196.584 |
| fac | 300,000 |
| fachead | 300,000 |
| taxwk | 455,065.3034 |
| Measure | Value |
|---|---|
| rec close | 852,155.8006 |
| rec dec | -106,458.1794 |
| rec implied | 745,697.6212 |
| rec bs | 745,697.6212 |
| rec diff | 0 |
Schedules & controls
Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| Measure | Value |
|---|---|
| overall status | OK |
| 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 | 0.05 | 0.5 | OK |
| Closing cash on the cash flow equals balance sheet cash | Link integrity | 0 | 0.5 | OK |
| Retained earnings roll: closing = opening + net profit - dividends declared | Equity roll-forward to Dec-27 | 0 | 0.5 | OK |
| Opening balance sheet at 31-Dec-25 balances | FY2025 closing balances on Inputs_Actuals | 0 | 0.5 | OK |
| P&L revenue equals the revenue schedule, every month | Link integrity | 0 | 0.5 | OK |
| Register counts and prices reproduce the Dec-25 fees in History | Contract_Register agrees with the FY2025 billing | 0 | 0.5 | OK |
| Onboarding fees deferred equal the contract schedule, every month | IFRS 15.B48 to B51 over the 36-month term | 0 | 0.5 | OK |
| Annual licences billed ahead equal the billing schedule, every month | Twelve months of recognition per billing | 0 | 0.5 | OK |
| Prepaid licence cost equals the licence liability x (1 - margin), every month | Vendor cost follows the revenue | 0 | 0.5 | OK |
| SLA credits due equal the credits of the month, every month | Credited on the next invoice | 0 | 0.5 | OK |
| Project positions: change in contract liabilities less assets equals billing less revenue | Every project, every month | 0 | 0.5 | OK |
| Opening project contract balances agree with the Project_Register at 31-Dec-25 | Billed less revenue to date | 0 | 0.5 | OK |
| Rebates receivable equal the accruals of quarters not yet paid, every month | Quarterly tiers and payment timing | 0 | 0.5 | OK |
| Gross margin by service line reconciles to the P&L gross profit, every month | Revenue and cost of revenue fully allocated | 0 | 0.5 | OK |
| Contract contributions + onboarding + SLA credits equal the managed services margin (FY2026) | Allocation by desk hours, endpoints, users and devices is complete | 0 | 0.5 | OK |
| Remuneration equals net pay plus employee social security and IRS, every month | Payroll journal integrity | 0 | 0.5 | OK |
| Social security payable at each forecast month end equals the month due | Paid by the 20th of the following month | 0 | 0.5 | OK |
| IRS withheld payable at each forecast month end equals the month due | Paid by the 20th of the following month | 0 | 0.5 | OK |
| Christmas allowance accrual is nil at each December | Paid with the November payroll, trued up in December | 0 | 0.5 | OK |
| Opening holiday accrual equals two months of Dec-25 pay by band, incl. TSU | 22 days and the holiday allowance vested on 1 January | 0 | 0.5 | OK |
| Every band salary is at or above the national minimum wage | EUR 920 from January 2026 | 230 | 0 | OK |
| VAT payable equals the returns not yet paid, every month | Monthly regime, payment in the second month | 0 | 0.5 | OK |
| IRC payable at Dec-26 equals FY2026 tax less its payments on account | Tax roll-forward | 0 | 0.5 | OK |
| IRC payable at Dec-27 equals FY2027 tax less its payments on account (FY2026 settled) | Balance and refund of FY2026 in 2027 | 0 | 0.5 | OK |
| FY2026 and FY2027 tax = SME rate to EUR 50,000 + general rate + derrama on taxable profit | IRC arithmetic | 0 | 0.5 | OK |
| Payments on account: September 2026 = 95% x FY2025 IRC / 3; FY2027 = 95% x FY2026 IRC | CIRC art. 104 and 105 | 0 | 0.5 | OK |
| IRC withheld on rent payable at each forecast month end equals 25% of the month rent | Paid by the 20th of the following month | 0 | 0.5 | OK |
| AR aging: customers in Portugal tie to the ledger | Item listing agrees with the balance at the last actual month | 0 | 0.5 | OK |
| AR aging: customers in Spain tie to the ledger | Item listing agrees with the balance at the last actual month | 0 | 0.5 | OK |
| AP aging: Hardware distributors tie to the Payables schedule | 0 | 0.5 | OK | |
| AP aging: Licence distributor tie to the Payables schedule | 0 | 0.5 | OK | |
| AP aging: Tooling vendor (USD) tie to the Payables schedule | 0 | 0.5 | OK | |
| AP aging: Other suppliers tie to the Payables schedule | 0 | 0.5 | OK | |
| Forecast receivables equal the collection rule every month | Receipts never collect an invoice twice when the days change | 0 | 0.5 | OK |
| USD payable at each month end equals the month invoice at the month rate | Exchange differences taken on settlement (IAS 21) | 0 | 0.5 | OK |
| Loan balance at Dec-27 = opening less principal repaid | Loan roll-forward | 0 | 0.5 | OK |
| Dividends and the IRS withheld on them are fully paid by each year end | Declared, paid, withholding paid to the State | 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 revenue causes reconcile (YTD and FY) | Contract groups and revenue streams explain the full variance | 0 | 0.5 | OK |
| EBITDA walk from budget to actual reconciles | Variances explain the full EBITDA gap | 0 | 0.5 | OK |
| Customer receivables never negative | 152,960.428 | 0.5 | OK | |
| Trade payables never negative | 19,237.6251 | 0.5 | OK | |
| Users, devices and fees never negative (every contract, every month) | 0 | 0.001 | OK | |
| Project hours and provisions never negative | 0 | 0.001 | OK | |
| Contract liabilities, prepaid licences and stock never negative | 7,468.75 | 0.5 | OK | |
| Headcount never negative | 0.9752 | 0 | OK | |
| Fixed assets, customer relationships and the loan never negative | 86,188.9521 | 0 | OK | |
| Timeline: months flagged actual equal the last actual month number | 0 | 0.5 | OK |
| item | note | value |
|---|---|---|
| Lowest month-end cash in the forecast (selected scenario) | Board buffer: Assumptions | 696,587.1026 |
| Headroom over the buffer at the lowest point | Negative = below the board buffer | 296,587.1026 |
| Lowest 13-week closing cash | 755,196.584 | |
| Debt service cover at the December 2026 test | Covenant at least 1.2x; a breach also blocks the 2027 dividend | 1.2865 |
| Net debt / EBITDA at the December 2026 test | Covenant at most 2.5x | 0.1622 |
| Highest forecast service desk utilisation | Above the knee on Assumptions SLA credits start | 0.9975 |
| Net revenue retention at Dec-27 | Below 100% the contract base shrinks without new sales | 1.0601 |
| Largest contract share of FY2026 managed services revenue | Above 10% is a concentration risk | 0.0998 |
| Disputed J11 milestone open at the last actual month (EUR) | Month and credit share are scenario drivers | 21,600 |
| Onerous project provision at the last actual month (EUR) | J01 ERP migration | 2,507.14 |
| Distributor rebate tier expected for Q3-26 | 2.5% budgeted | 0.015 |
| type | label | unit | value | note | base | downside | upside | selected | ytd actual reference |
|---|---|---|---|---|---|---|---|---|---|
| scalar | Company name | Quelvora Sistemas, Lda (fictional demonstration company) | All figures fictional. Portuguese private limited company (Lda) in Porto, founded 2009, owned by its two founders; financial year = calendar year; EUR. Management accounts under IFRS; statutory accounts under SNC, differences not modelled. | ||||||
| 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 | 400,000 | Board policy: one month of payroll, social security and supplier runs; used by the 13-week cash forecast and the CFO report | |||||
| scalar | Undrawn overdraft facility available | EUR | 300,000 | Committed credit line (conta caucionada) with the lending bank, undrawn | |||||
| scalar | Aged receivables and payables: as-at date | calc | 2026-08-31 | ||||||
| scalar | VAT (IVA): standard rate, mainland | rate | 0.23 | Código do IVA art. 18; charged to customers in Portugal | |||||
| scalar | Corporate income tax (IRC): general rate FY2026 | rate | 0.19 | CIRC art. 87 as amended by Lei 64/2025: 19% for 2026, 18% for 2027, 17% from 2028 | |||||
| scalar | IRC: general rate FY2027 | rate | 0.18 | ||||||
| scalar | IRC: SME rate on the first EUR 50,000 of taxable profit | rate | 0.15 | CIRC art. 87(2): 15% from 2026 (FY2025: 20% and 16%, Lei 45-A/2024). The company is an SME | |||||
| scalar | IRC: SME band | EUR | 50,000 | ||||||
| scalar | Municipal surcharge (derrama), Porto | rate | 0.015 | Ofício Circulado 20288/2026 (rates for collection in 2026): Porto 1.5% (0.75% only below EUR 150,000 of turnover). State surcharge starts at EUR 1.5m of taxable profit: not reached | |||||
| scalar | IRC assessed for FY2025 (before derrama), base for the FY2026 payments on account | EUR | 230,793.45 | FY2025 return (fictional) | |||||
| scalar | Payments on account: share of the prior-year tax (turnover above EUR 500,000) | rate | 0.95 | CIRC art. 105: 95%, in three instalments due in July, September and by 15 December (art. 104) | |||||
| scalar | Limit the third FY2026 payment on account (1 = yes, 0 = pay in full) | switch | 0 | CIRC art. 107: the third instalment may be stopped or limited when the payments made already cover the tax due; compensatory interest applies if the tax proves more than 20% higher | |||||
| scalar | IRC balance for FY2025 (paid with the Modelo 22) | EUR | 105,752.96 | Filing and payment deadline extended to 19 June 2026 (Despacho n.º 68/2026-XXV of 12 May 2026) | |||||
| scalar | Month an IRC overpayment for FY2026 is refunded | month | 2027-09-30 | Assumption: about three months after the May filing; information needed: the tax authority refund date | |||||
| scalar | IRC withheld on rent paid to the landlord company | rate | 0.25 | CIRC art. 94(1)(c) and (4): 25%; paid to the State by the 20th of the following month (art. 94(6)) | |||||
| scalar | IRS withheld on dividends paid to the resident individual shareholders | rate | 0.28 | CIRS art. 71(1)(a): 28% final withholding; paid by the 20th of the following month (CIRS art. 98(3)) | |||||
| scalar | Social security (TSU): employer | rate | 0.2375 | Código Contributivo: 23.75% employer, 11% employee, on salaries and both allowances | |||||
| scalar | Social security (TSU): employee | rate | 0.11 | ||||||
| scalar | Meal allowance on card per working day | EUR | 10 | Below the 2026 exempt limit of EUR 10.455 on a meal card (idealista.pt, public sector allowance EUR 6.15 + 70%): no TSU, no IRS | |||||
| scalar | Working days a month | days | 21 | ||||||
| scalar | Holiday entitlement (working days a year) | days | 22 | ||||||
| scalar | Work accident insurance premium on remuneration | rate | 0.009 | Mandatory insurance (assumption: 0.90% for office and field IT staff); information needed: the policy rate | |||||
| scalar | Health insurance per head a month | EUR | 32 | Company plan (fictional) | |||||
| scalar | National minimum wage 2026 (monthly) | EUR | 920 | Decreto-Lei 139/2025: EUR 920 from 1 January 2026 (every band is above it) | |||||
| scalar | IRS withholding 2026, Tabela I (single, no dependants): monthly remuneration from | Up to | Marginal rate | Amount deducted | |||||
| scalar | 1,154.01 | 1,212 | 0.212 | 158.18 | |||||
| scalar | 1,212.01 | 1,819 | 0.241 | 193.33 | |||||
| scalar | 1,819.01 | 2,119 | 0.311 | 320.66 | |||||
| scalar | 2,119.01 | 2,499 | 0.349 | 401.19 | |||||
| scalar | 2,499.01 | 3,305 | 0.3836 | 487.66 | |||||
| scalar | 3,305.01 | 5,547 | 0.3969 | 531.62 | |||||
| scalar | 5,547.01 | 20,221 | 0.4495 | 823.4 | |||||
| scalar | 20,221.01 | 999,999 | 0.4717 | 1,272.31 | |||||
| scalar | Band | Code | Department | Monthly salary FY2026 | |||||
| scalar | Service desk analysts | L1 | SVC | 1,200 | |||||
| scalar | Support engineers | L2 | SVC | 1,650 | |||||
| scalar | Systems engineers | L3 | SVC | 2,350 | |||||
| scalar | Field technicians | FLD | SVC | 1,300 | |||||
| scalar | NOC and security analysts | NOC | SVC | 1,750 | |||||
| scalar | Service delivery managers | SDM | SVC | 2,650 | |||||
| scalar | Project engineers | PEN | PRJ | 2,150 | |||||
| scalar | Project managers | PM | PRJ | 2,850 | |||||
| scalar | Sales director | SD | SM | 3,600 | |||||
| scalar | Account managers | AM | SM | 2,000 | |||||
| scalar | Presales engineer | PSE | SM | 2,600 | |||||
| scalar | Marketing | MKT | SM | 1,800 | |||||
| scalar | Directors (CEO and CTO, founders) | DIR | GA | 5,000 | |||||
| scalar | Finance | FIN | GA | 2,000 | |||||
| scalar | People and HR | HR | GA | 1,700 | |||||
| scalar | Procurement and logistics | PRC | GA | 1,300 | |||||
| scalar | Office administration | ADM | GA | 1,150 | |||||
| scalar | Attrition a year, base: service delivery | rate | 0.14 | Company history and the Porto market for IT roles (company assumption) | |||||
| scalar | Attrition a year, base: projects | rate | 0.1 | ||||||
| scalar | Attrition a year, base: sales and marketing | rate | 0.15 | ||||||
| scalar | Attrition a year, base: general and administrative | rate | 0.06 | ||||||
| scalar | Equipment per new hire | EUR | 1,300 | ||||||
| scalar | IT replacement cycle, capex a month | EUR | 1,800 | ||||||
| scalar | Recruitment cost per hire | EUR | 2,200 | ||||||
| scalar | Sales commission: share of the first-year value of new managed contracts | rate | 0.06 | Commission plan FY2026 (fictional), paid with the next payroll. Capitalised with its TSU as a cost of obtaining a 36-month contract and amortised over the term (IFRS 15.91 and 99); no commission on renewals | |||||
| scalar | Sales commission: share of hardware gross margin | rate | 0.03 | Expensed: it relates to hardware delivered in the month | |||||
| scalar | Managed service contract term (months) | months | 36 | Renewal every 36 months at the probability on the Contract_Register; price review at each anniversary | |||||
| scalar | Price review applied at anniversaries Jan to Aug 2026 (actual) | rate | 0.026 | Contract clause (fictional); forecast anniversaries use the scenario driver | |||||
| scalar | Onboarding fee per user at contract start | EUR | 45 | Not a distinct service: recognised over the 36-month term (IFRS 15.B48 to B51); deferred balance is a contract liability | |||||
| scalar | Bundled licences: share of users covered | share | 0.85 | Per-user productivity and security subscriptions provisioned and supported inside the managed contract: principal (IFRS 15.B35A(b)), revenue monthly | |||||
| scalar | Bundled licences: price per user a month FY2026 | EUR | 20.5 | ||||||
| scalar | Bundled licences: vendor cost per user a month FY2026 | EUR | 17.3 | ||||||
| scalar | Bundled licences: vendor price change 1-Jan-27, passed through at the same margin | rate | 0.03 | Assumption; information needed: the vendor price list for 2027 | |||||
| scalar | Tickets a month per user | tickets | 0.42 | PSA ticket history FY2025 (fictional) | |||||
| scalar | Tickets a month per device | tickets | 0.17 | ||||||
| scalar | Tickets: share P1 | share | 0.03 | P1 critical to P4 low | |||||
| scalar | Hours per ticket P1 | hours | 3.5 | ||||||
| scalar | Tickets: share P2 | share | 0.12 | ||||||
| scalar | Hours per ticket P2 | hours | 1.8 | ||||||
| scalar | Tickets: share P3 | share | 0.55 | ||||||
| scalar | Hours per ticket P3 | hours | 0.9 | ||||||
| scalar | Tickets: share P4 | share | 0.3 | ||||||
| scalar | Hours per ticket P4 | hours | 0.45 | ||||||
| scalar | Average hours per ticket (weighted) | calc | 0.951 | ||||||
| scalar | Proactive hours a month per device (patching, monitoring, backups) | hours | 1.15 | ||||||
| scalar | Proactive hours a month per user (endpoint management) | hours | 0.19 | ||||||
| scalar | Share of proactive work deferred in proportion to holidays | share | 0.5 | ||||||
| scalar | Onboarding hours per new user (start month) | hours | 2 | ||||||
| scalar | Productive hours per service desk FTE a month before holidays | hours | 126 | 8 hours x 21 days x 75% (training, meetings, administration, absence) | |||||
| scalar | SLA attainment at or below the utilisation knee | share | 0.985 | Fitted to FY2025 and FY2026 PSA data: attainment = max - slope x (utilisation - knee) | |||||
| scalar | Utilisation knee | share | 0.8 | ||||||
| scalar | Slope of attainment above the knee | x | 0.65 | ||||||
| scalar | Contractual SLA target (share of tickets inside response and resolution times) | share | 0.96 | ||||||
| scalar | Band over which breaches spread across the contract base | share | 0.1 | Share of fees in breach = (target - attainment) / band, capped at 100% | |||||
| scalar | SLA credit: share of the monthly fee of a contract in breach | share | 0.05 | Variable consideration (IFRS 15.50 to 59): estimated in the month of the service, credited on the next invoice | |||||
| scalar | Annual licences: margin (vendor cost 76% of billing, prepaid for the year) | share | 0.24 | Security and backup subscriptions bought in the company name and managed by it: principal; billed a year ahead, revenue and cost over 12 months | |||||
| scalar | Annual licences: share billed to customers in Portugal | share | 0.88 | ||||||
| scalar | Licences resold as agent: commission (gross billing less vendor cost) | share | 0.115 | Standard licences delivered by the manufacturer straight to the customer; the company never controls them (IFRS 15.B34 to B38; IFRIC agenda decision, Principal versus Agent: Software Reseller, 2022): revenue is the net commission | |||||
| scalar | Licences resold as agent: gross billing run-rate a month before seasonality | EUR | 57,100 | Jan to Jul 2026 average | |||||
| scalar | Licences resold as agent: share billed in Portugal | share | 0.9 | ||||||
| scalar | Hardware: revenue run-rate a month before seasonality | EUR | 208,000 | Jan to Jul 2026 average; FY2025 was lifted by the desktop refresh cycle | |||||
| scalar | Hardware: share delivered to customers in Spain (exempt intra-EU supply) | share | 0.12 | Principal: the company buys, holds and configures the hardware and sets the price (IFRS 15.B37); revenue on delivery | |||||
| scalar | Hardware: stock in days of cost of sales | days | 14 | ||||||
| scalar | Distributor rebate: quarterly purchases for tier 1 | EUR | 450,000 | Distributor programme 2026 (fictional): 1.5% from EUR 450k a quarter, 2.5% from EUR 650k; paid at the end of the second month after the quarter | |||||
| scalar | Distributor rebate: quarterly purchases for tier 2 | EUR | 650,000 | ||||||
| scalar | Distributor rebate: tier 1 rate | rate | 0.015 | ||||||
| scalar | Distributor rebate: tier 2 rate | rate | 0.025 | ||||||
| scalar | Licence vendor incentive on licence purchases | rate | 0.03 | Paid 45 days after the quarter. Rebates on purchases reduce cost of sales (IAS 2.11); the incentive on agent sales is part of the agent revenue | |||||
| scalar | Projects: standard cost of an own hour (loaded payroll) | EUR | 30 | Used for the onerous test (IAS 37.66 to 69 and 68A: direct labour and costs that relate directly) | |||||
| scalar | Projects: specialist subcontractor rate per hour | EUR | 82 | ||||||
| scalar | New project work: average realised rate per hour | EUR | 68 | ||||||
| scalar | New project work: share done by own staff | share | 0.9 | ||||||
| scalar | New project work not yet identified: first month | month | 2026-10-31 | Unidentified work fills the gap between the signed projects on the Project_Register and the scenario run-rate | |||||
| scalar | New project work: share billed in Portugal | share | 0.85 | FY2025 project billing split | |||||
| scalar | Collection days: customers in Portugal | days | 38 | FY2026 experience; invoices monthly in advance on 30 to 60-day terms | |||||
| scalar | Collection days: customers in Spain | days | 55 | ||||||
| scalar | Disputed J11 final milestone (Talleres Brañoso, invoiced June) | EUR | 21,600 | See AR_Aging | |||||
| scalar | Service tooling: price per endpoint a month | USD | 3.4 | RMM, PSA, endpoint security and backup platforms; US vendor invoicing in USD, paid on the 15th of the next month | |||||
| scalar | Service tooling: platform fee a month | USD | 4,500 | ||||||
| scalar | Endpoints per user (plus every managed device) | x | 1.1 | ||||||
| scalar | Colocation and backup storage: fixed a month | EUR | 7,800 | ||||||
| scalar | Colocation and backup storage per managed device | EUR | 0.9 | ||||||
| scalar | Field vans: rental, fuel and tolls per van a month | EUR | 790 | One van per field technician plus a pool van; VAT not recovered (simplification) | |||||
| scalar | Cabling and electrical subcontractors a month | EUR | 1,500 | ||||||
| scalar | Office rent, Porto (VAT exempt; 25% IRC withheld) | EUR | 10,500 | Lease to Dec-29 (fictional); paid monthly net of 25% IRC withheld | |||||
| scalar | Statutory audit, legal and tax advisers | EUR | 4,800 | Profile: x2.4 in March (statutory audit), x0.87 in other months | |||||
| scalar | Insurance (general liability, property, cyber) | EUR | 1,900 | ||||||
| scalar | Marketing and events | EUR | 6,500 | Profile: x1.8 in May and October (events), x0.5 in August, x0.93 in other months | |||||
| scalar | Training and certifications | EUR | 3,800 | ||||||
| scalar | Recruitment | EUR | 400 | Plus EUR 2,200 per hire (People) | |||||
| scalar | Travel (VAT not recovered) | EUR | 3,200 | ||||||
| scalar | Telecoms and internal IT | EUR | 4,200 | ||||||
| scalar | Office services and utilities | EUR | 2,700 | ||||||
| scalar | Occupational health and safety | EUR | 450 | ||||||
| scalar | Overhead inflation applied from FY2027 | rate | 0.025 | ||||||
| scalar | Bank term loan at 31-Dec-25 (acquisition of a Braga managed services business, April 2024) | EUR | 1,300,000 | EUR 2.0m over 60 months from April 2024, monthly principal; Euribor 3M + 2.25% (fictional) | |||||
| scalar | Monthly principal repayment | EUR | 33,333.33 | ||||||
| scalar | Loan margin over Euribor 3M | rate | 0.0225 | ||||||
| scalar | Covenant: net debt / EBITDA (last 12 months) at most | x | 2.5 | Tested at June and December; dividends allowed up to 50% of the prior-year net profit while covenants are met | |||||
| scalar | Covenant: debt service cover (EBITDA - tax paid - capex) / (principal + interest), last 12 months, at least | x | 1.2 | ||||||
| scalar | Dividend on FY2025 profit (approved 30 March 2026, paid 29 May 2026) | EUR | 360,000 | Paid net of 28% IRS; the withholding paid on 20 June | |||||
| scalar | Loan agreement: dividends capped at a share of the prior-year net profit | share | 0.5 | And only while both covenants are met at the December test (fictional loan agreement) | |||||
| scalar | Depreciation of IT equipment held at 31-Dec-25 a month | EUR | 3,100 | New IT equipment over 36 months | |||||
| scalar | Depreciation of the office fit-out a month | EUR | 1,166.67 | ||||||
| scalar | Amortisation of acquired customer relationships a month | EUR | 5,000 | EUR 480k over 8 years (IFRS 3, IAS 38); goodwill of EUR 920k is not amortised and is tested for impairment each year (IAS 36) | |||||
| scalar | Driver | Unit | Base | Downside | |||||
| scenario_driver | Users and devices: growth (x contract rates on the register) | x | FY2026 year to date 0.2% a month on average | 1 | 0.5 | 1.3 | 1.3 | ||
| scenario_driver | Price review at anniversaries from Sep-26 | rate | Actual 2026 reviews: 2.6% | 0.03 | 0.015 | 0.035 | 0.035 | 0.026 | |
| scenario_driver | Price change at the 36-month renewal | rate | On top of the anniversary review; renewal probabilities by contract sit on the Contract_Register | 0 | -0.05 | 0.02 | 0.02 | ||
| scenario_driver | Pipeline contracts: start delay | months | 0 | 2 | 0 | 0 | |||
| scenario_driver | Hardware demand (x run-rate) | x | Jan to Jul 2026 average EUR 208k a month before seasonality | 1 | 0.85 | 1.1 | 1.1 | 1.0178 | |
| scenario_driver | Hardware margin before rebates | share | FY2026 year to date 12.8% | 0.128 | 0.115 | 0.133 | 0.133 | 0.1281 | |
| scenario_driver | Annual licence billings: change on the same month a year earlier | rate | 0.04 | 0 | 0.06 | 0.06 | 0.0688 | ||
| scenario_driver | Licences resold as agent (x run-rate) | x | 1 | 0.85 | 1.1 | 1.1 | 1.058 | ||
| scenario_driver | Project revenue run-rate a month: signed projects topped up with work not yet identified (from Oct-26) | EUR | FY2025: EUR 103k a month; Jan to Aug 2026: EUR 67k a month; x the FY2025 seasonal profile | 90,000 | 65,000 | 110,000 | 110,000 | ||
| scenario_driver | J01: extra hours to complete (share of the remaining estimate) | share | Downside: the data migration needs more specialist time | 0 | 0.2 | 0 | 0 | ||
| scenario_driver | Planned hires made (share of the hiring plan on People) | share | Downside response: a quarter of the plan held back | 1 | 0.75 | 1 | 1 | ||
| scenario_driver | Leavers replaced (share) | share | 1 | 0.75 | 1 | 1 | |||
| scenario_driver | Attrition (x base rates) | x | 1 | 0.8 | 1 | 1 | |||
| scenario_driver | Pay review January 2027 | rate | The accrued holiday entitlement is revalued in December for the review | 0.03 | 0.02 | 0.035 | 0.035 | ||
| scenario_driver | Extra days to collect from customers | days | 0 | 15 | 0 | 0 | |||
| scenario_driver | Euribor 3M from Sep-26 | rate | Monthly averages Jan to Aug 2026: 2.14% rising to 2.71% (EMMI data, idealista.pt) | 0.0275 | 0.0325 | 0.024 | 0.024 | 0.0244 | |
| scenario_driver | USD per EUR, forecast | rate | Base: ECB reference rate of 22-Sep-26 | 1.1463 | 1.08 | 1.18 | 1.18 | 1.1624 | |
| scenario_driver | Dividend on FY2026 profit, paid May 2027 (share of net profit) | share | Loan agreement cap 50% of the prior-year net profit | 0.4 | 0 | 0.45 | 0.45 | ||
| scenario_driver | Disputed J11 milestone: month collected | month | 2026-10-31 | 2026-12-31 | 2026-10-31 | 2026-10-31 | |||
| scenario_driver | Disputed J11 milestone: share credited | share | 0 | 0.25 | 0 | 0 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C01 Brevanor Têxteis, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 422 | 423 | 422 | 423 | 423 | 424 | 424 | 425 | 0 | |||||||||||||||||
| C02 Clínicas Almedra, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 260 | 262 | 262 | 263 | 265 | 266 | 267 | 269 | 0 | |||||||||||||||||
| C03 Solvinha Calçado, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 150 | 151 | 152 | 152 | 153 | 153 | 153 | 153 | 0 | |||||||||||||||||
| C04 Valcorra Advogados: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 95 | 95 | 96 | 96 | 96 | 95 | 96 | 0 | |||||||||||||||||
| C05 Colégios Maravel: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 311 | 312 | 312 | 312 | 312 | 312 | 313 | 314 | 0 | |||||||||||||||||
| C06 Metalúrgica Vaurinho, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 121 | 121 | 122 | 122 | 121 | 122 | 122 | 122 | 0 | |||||||||||||||||
| C07 Quintas Delvara, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 86 | 86 | 87 | 87 | 87 | 87 | 88 | 88 | 0 | |||||||||||||||||
| C08 Farmácias Oliveda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 180 | 181 | 182 | 183 | 184 | 185 | 185 | 185 | 0 | |||||||||||||||||
| C09 Moldivel Plásticos, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 139 | 140 | 140 | 141 | 142 | 142 | 142 | 143 | 0 | |||||||||||||||||
| C10 Pravel Contabilidade, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 60 | 60 | 60 | 60 | 60 | 61 | 61 | 61 | 0 | |||||||||||||||||
| C11 Hotéis Alvenosa: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 130 | 131 | 131 | 131 | 131 | 131 | 131 | 132 | 0 | |||||||||||||||||
| C12 Cerâmicas Lovredo, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 110 | 110 | 111 | 110 | 110 | 111 | 111 | 111 | 0 | |||||||||||||||||
| C13 Castelvi Imobiliária: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 70 | 70 | 70 | 71 | 71 | 71 | 71 | 71 | 0 | |||||||||||||||||
| C14 Agrícola Vinhedal: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 90 | 91 | 91 | 91 | 92 | 92 | 92 | 92 | 0 | |||||||||||||||||
| C15 Engenharia Morvelo, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 75 | 76 | 76 | 77 | 77 | 77 | 77 | 78 | 0 | |||||||||||||||||
| C16 Cooperativa Leiteira Bravanha: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 160 | 160 | 160 | 161 | 160 | 161 | 161 | 162 | 0 | |||||||||||||||||
| C17 Laboratórios Cendral, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 116 | 116 | 117 | 118 | 118 | 119 | 119 | 119 | 0 | |||||||||||||||||
| C18 Mediavir Seguros: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 55 | 55 | 55 | 55 | 55 | 56 | 56 | 56 | 0 | |||||||||||||||||
| C19 Construtora Arvedo, S.A.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 145 | 145 | 145 | 145 | 146 | 146 | 147 | 147 | 0 | |||||||||||||||||
| C20 Distribuidora Pellano, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 125 | 126 | 126 | 127 | 127 | 127 | 128 | 128 | 0 | |||||||||||||||||
| C21 Gráfica Tornavel, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 0 | |||||||||||||||||
| C22 Óticas Lumarel: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 96 | 96 | 96 | 96 | 96 | 97 | 97 | 0 | |||||||||||||||||
| C23 Salmeira Arquitetos: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 41 | 41 | 41 | 41 | 41 | 0 | |||||||||||||||||
| C24 Traslovia Transportes, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 151 | 151 | 150 | 150 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| C25 Conservas Brelmar, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 140 | 141 | 142 | 142 | 141 | 141 | 142 | 143 | 0 | |||||||||||||||||
| C26 Talleres Brañoso, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 90 | 90 | 90 | 91 | 91 | 91 | 91 | 92 | 0 | |||||||||||||||||
| C27 Clínica Veigadal, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 70 | 70 | 71 | 71 | 72 | 72 | 72 | 73 | 0 | |||||||||||||||||
| C28 Maderas Ouriñal, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 80 | 80 | 81 | 81 | 81 | 81 | 81 | 80 | 0 | |||||||||||||||||
| C29 Pesqueras Morazal, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 95 | 95 | 95 | 95 | 95 | 94 | 95 | 0 | |||||||||||||||||
| C30 Bodegas Quenlla, S.L.: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 55 | 55 | 56 | 56 | 56 | 56 | 56 | 56 | 0 | |||||||||||||||||
| C31 Ferroval Automação, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 80 | 80 | 81 | 81 | 81 | 81 | 0 | |||||||||||||||||
| C32 Clínica Dentária Rosmel: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 66 | 66 | 67 | 67 | 0 | |||||||||||||||||
| C33 Mobiliário Tarvela, Lda: users | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 0 | 0 | 108 | 109 | 0 | |||||||||||||||||
| C01: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 95 | 95 | 95 | 96 | 96 | 96 | 96 | 96 | 0 | |||||||||||||||||
| C02: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 70 | 0 | |||||||||||||||||
| C03: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 0 | |||||||||||||||||
| C04: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 0 | |||||||||||||||||
| C05: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 85 | 85 | 85 | 85 | 86 | 86 | 86 | 87 | 0 | |||||||||||||||||
| C06: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 0 | |||||||||||||||||
| C07: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 30 | 30 | 30 | 30 | 31 | 31 | 31 | 31 | 0 | |||||||||||||||||
| C08: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 90 | 90 | 91 | 91 | 91 | 91 | 91 | 91 | 0 | |||||||||||||||||
| C09: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 0 | |||||||||||||||||
| C10: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 0 | |||||||||||||||||
| C11: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 60 | 0 | |||||||||||||||||
| C12: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 0 | |||||||||||||||||
| C13: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 0 | |||||||||||||||||
| C14: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 0 | |||||||||||||||||
| C15: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 0 | |||||||||||||||||
| C16: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 52 | 52 | 52 | 52 | 52 | 53 | 52 | 52 | 0 | |||||||||||||||||
| C17: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 42 | 42 | 42 | 43 | 43 | 43 | 43 | 43 | 0 | |||||||||||||||||
| C18: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 0 | |||||||||||||||||
| C19: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 0 | |||||||||||||||||
| C20: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 0 | |||||||||||||||||
| C21: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 0 | |||||||||||||||||
| C22: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 50 | 50 | 50 | 50 | 51 | 51 | 51 | 51 | 0 | |||||||||||||||||
| C23: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 0 | |||||||||||||||||
| C24: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 40 | 40 | 40 | 40 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| C25: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 45 | 45 | 46 | 46 | 46 | 46 | 47 | 47 | 0 | |||||||||||||||||
| C26: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 0 | |||||||||||||||||
| C27: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 0 | |||||||||||||||||
| C28: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 0 | |||||||||||||||||
| C29: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 0 | |||||||||||||||||
| C30: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 0 | |||||||||||||||||
| C31: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 28 | 28 | 28 | 28 | 28 | 29 | 0 | |||||||||||||||||
| C32: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 20 | 20 | 20 | 20 | 0 | |||||||||||||||||
| C33: devices | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | RMM / billing | 0 | 0 | 0 | 0 | 0 | 0 | 33 | 33 | 0 | |||||||||||||||||
| C01: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 22,327 | 22,365.5 | 22,907.5 | 23,012.67 | 23,012.67 | 23,052.17 | 23,052.17 | 23,091.67 | 182,821.35 | |||||||||||||||||
| C02: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 15,500 | 15,588 | 15,588 | 16,038.43 | 16,128.72 | 16,173.86 | 16,219.01 | 16,309.3 | 127,545.32 | |||||||||||||||||
| C03: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,090 | 8,130 | 8,170 | 8,170 | 8,210 | 8,210 | 8,210 | 8,210 | 65,400 | |||||||||||||||||
| C04: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,524 | 6,524 | 6,693.62 | 6,746.98 | 6,746.98 | 6,746.98 | 6,693.62 | 6,746.98 | 53,423.16 | |||||||||||||||||
| C05: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 13,099 | 13,128 | 13,128 | 13,128 | 13,176 | 13,176 | 13,205 | 13,627.33 | 105,667.33 | |||||||||||||||||
| C06: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,552.39 | 7,552.39 | 7,594.45 | 7,594.45 | 7,552.39 | 7,594.45 | 7,594.45 | 7,594.45 | 60,629.42 | |||||||||||||||||
| C07: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,730 | 5,878.98 | 5,925.15 | 5,925.15 | 5,988.76 | 5,988.76 | 6,034.93 | 6,034.93 | 47,506.66 | |||||||||||||||||
| C08: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 11,357.82 | 11,397.83 | 11,484.02 | 11,524.03 | 11,564.05 | 11,604.06 | 11,604.06 | 11,604.06 | 92,139.93 | |||||||||||||||||
| C09: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,395 | 8,435 | 8,435 | 8,475 | 8,515 | 8,515 | 8,736.39 | 8,777.43 | 68,283.82 | |||||||||||||||||
| C10: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 3,840 | 3,840 | 3,840 | 3,840 | 3,840 | 3,890 | 3,890 | 3,890 | 30,870 | |||||||||||||||||
| C11: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,930 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 7,967 | 8,212.1 | 63,944.1 | |||||||||||||||||
| C12: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,706 | 6,706 | 6,747 | 6,706 | 6,706 | 6,747 | 6,747 | 6,747 | 53,812 | |||||||||||||||||
| C13: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 4,280 | 4,280 | 4,391.28 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 4,439.5 | 35,148.78 | |||||||||||||||||
| C14: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,134 | 5,173 | 5,173 | 5,173 | 5,347.51 | 5,347.51 | 5,347.51 | 5,347.51 | 42,043.04 | |||||||||||||||||
| C15: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,075 | 5,124 | 5,124 | 5,173 | 5,307.5 | 5,307.5 | 5,307.5 | 5,357.77 | 41,776.27 | |||||||||||||||||
| C16: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,724 | 8,724 | 8,724 | 8,760 | 8,724 | 8,817 | 8,760 | 8,796 | 70,029 | |||||||||||||||||
| C17: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,192 | 8,192 | 8,238 | 8,352 | 8,352 | 8,398 | 8,398 | 8,616.35 | 66,738.35 | |||||||||||||||||
| C18: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 3,290 | 3,290 | 3,290 | 3,290 | 3,290 | 3,424.79 | 3,424.79 | 3,424.79 | 26,724.37 | |||||||||||||||||
| C19: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,790 | 7,992.54 | 7,992.54 | 7,992.54 | 8,031.53 | 8,031.53 | 8,070.52 | 8,070.52 | 63,971.72 | |||||||||||||||||
| C20: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 7,382.07 | 7,422.08 | 7,422.08 | 7,462.1 | 7,462.1 | 7,462.1 | 7,502.11 | 7,502.11 | 59,616.75 | |||||||||||||||||
| C21: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,170 | 4,278.42 | 4,278.42 | 33,576.84 | |||||||||||||||||
| C22: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,715 | 5,752 | 5,752 | 5,752 | 5,796 | 5,796 | 5,833 | 5,833 | 46,229 | |||||||||||||||||
| C23: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 2,728 | 2,728 | 2,728 | 2,780 | 2,780 | 2,780 | 2,780 | 2,780 | 22,084 | |||||||||||||||||
| C24: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,289 | 8,289 | 8,250 | 8,250 | 0 | 0 | 0 | 0 | 33,078 | |||||||||||||||||
| C25: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 8,900 | 8,943 | 9,050 | 9,285.3 | 9,241.18 | 9,241.18 | 9,350.96 | 9,395.08 | 73,406.7 | |||||||||||||||||
| C26: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,204 | 6,204 | 6,204 | 6,248 | 6,248 | 6,248 | 6,248 | 6,455.59 | 50,059.59 | |||||||||||||||||
| C27: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 4,442 | 4,557.49 | 4,605.71 | 4,605.71 | 4,653.94 | 4,653.94 | 4,653.94 | 4,702.16 | 36,874.89 | |||||||||||||||||
| C28: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 5,050 | 5,050 | 5,091 | 5,091 | 5,091 | 5,091 | 5,091 | 5,050 | 40,605 | |||||||||||||||||
| C29: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,150 | 6,108 | 6,150 | 49,158 | |||||||||||||||||
| C30: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 3,715 | 3,715 | 3,760 | 3,760 | 3,760 | 3,760 | 3,857.76 | 3,857.76 | 30,185.52 | |||||||||||||||||
| C31: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 0 | 0 | 5,256 | 5,256 | 5,300 | 5,300 | 5,300 | 5,362 | 31,774 | |||||||||||||||||
| C32: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 0 | 0 | 0 | 0 | 4,236 | 4,236 | 4,282 | 4,282 | 17,036 | |||||||||||||||||
| C33: managed service fees billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 0 | 0 | 0 | 0 | 0 | 0 | 6,408 | 6,449 | 12,857 | |||||||||||||||||
| Bundled licences billed | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | billing system | 65,799.8 | 66,325.23 | 67,699.56 | 67,751.59 | 66,519.66 | 66,724.48 | 68,703.74 | 68,767.83 | 538,291.89 | |||||||||||||||||
| Bundled licences: vendor cost | MANAGED SERVICES BY CONTRACT (billing system and RMM counts) | distributor invoices | 55,539.59 | 55,723.08 | 57,075.79 | 57,176.08 | 56,180.58 | 56,178.4 | 57,775.93 | 58,080.45 | 453,729.9 | |||||||||||||||||
| Tickets logged | SERVICE DESK (PSA) | PSA | 1,903 | 1,831 | 1,874 | 1,844 | 1,788 | 1,748 | 1,792 | 1,601 | 14,381 | |||||||||||||||||
| SLA attainment (tickets inside response and resolution times) | SERVICE DESK (PSA) | PSA | 97.34% | 98.03% | 93.18% | 91.81% | 91.22% | 92.65% | 86.39% | 88.4% | 92.38% | |||||||||||||||||
| SLA credits for the month (credited on the next invoice) | SERVICE DESK (PSA) | credit notes | 0 | 0 | 3,235.73 | 4,841.71 | 5,441.04 | 3,820.12 | 11,314.01 | 9,000.4 | 37,653.01 | |||||||||||||||||
| Annual licences billed | LICENCES, HARDWARE AND REBATES | billing system | 243,500 | 13,100 | 19,200 | 14,900 | 9,600 | 17,300 | 11,600 | 6,400 | 335,600 | |||||||||||||||||
| Licences resold as agent: gross billing | LICENCES, HARDWARE AND REBATES | billing system | 49,000 | 54,000 | 66,000 | 57,000 | 58,000 | 61,000 | 55,000 | 38,000 | 438,000 | |||||||||||||||||
| Hardware revenue | LICENCES, HARDWARE AND REBATES | ledger | 186,000 | 197,000 | 224,000 | 201,000 | 212,000 | 238,000 | 196,000 | 121,000 | 1,575,000 | |||||||||||||||||
| Hardware cost of sales before rebates | LICENCES, HARDWARE AND REBATES | ledger | 161,634 | 171,587 | 195,328 | 175,473 | 184,652 | 208,012 | 170,912 | 105,633 | 1,373,231 | |||||||||||||||||
| Hardware stock at month end | LICENCES, HARDWARE AND REBATES | stock count | 73,904.6 | 76,268.62 | 91,851.66 | 86,610.7 | 79,426.39 | 93,242.97 | 77,430.33 | 52,742.81 | 0 | |||||||||||||||||
| Distributor rebate accrued | LICENCES, HARDWARE AND REBATES | CFO estimate on the quarterly tier | 2,085.58 | 2,609.27 | 3,163.67 | 2,553.48 | 2,662.02 | 3,327.43 | 2,326.49 | 1,214.18 | 19,942.12 | |||||||||||||||||
| Licence incentive accrued: principal licences | LICENCES, HARDWARE AND REBATES | vendor statement | 7,217.99 | 1,970.37 | 2,150.03 | 2,055 | 1,904.3 | 2,079.79 | 1,997.76 | 1,888.33 | 21,263.57 | |||||||||||||||||
| Licence incentive accrued: licences resold as agent | LICENCES, HARDWARE AND REBATES | vendor statement | 1,300.95 | 1,433.7 | 1,752.3 | 1,513.35 | 1,539.9 | 1,619.55 | 1,460.25 | 1,008.9 | 11,628.9 | |||||||||||||||||
| J01: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 160 | 175 | 170 | 160 | 160 | 165 | 150 | 100 | 1,240 | |||||||||||||||||
| J01: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 20 | 40 | 80 | 150 | 180 | 200 | 190 | 120 | 980 | |||||||||||||||||
| J02: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 170 | 230 | 220 | 160 | 0 | 0 | 0 | 0 | 780 | |||||||||||||||||
| J02: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J03: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 110 | 150 | 150 | 140 | 90 | 0 | 640 | |||||||||||||||||
| J03: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J04: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 95 | 118 | 112 | 110 | 116 | 104 | 72 | 727 | |||||||||||||||||
| J04: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J05: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 132 | 140 | 146 | 138 | 142 | 144 | 136 | 96 | 1,074 | |||||||||||||||||
| J05: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J06: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 120 | 160 | 130 | 0 | 0 | 0 | 410 | |||||||||||||||||
| J06: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J07: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 0 | 95 | 130 | 85 | 310 | |||||||||||||||||
| J07: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J09: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 78 | 82 | 80 | 79 | 81 | 83 | 80 | 58 | 621 | |||||||||||||||||
| J09: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J10: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 95 | 225 | |||||||||||||||||
| J10: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J11: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 120 | 160 | 170 | 160 | 150 | 120 | 0 | 0 | 880 | |||||||||||||||||
| J11: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J12: own hours | PROJECTS (timesheets, billing and the monthly estimate review) | timesheets | 0 | 0 | 0 | 0 | 90 | 120 | 95 | 0 | 305 | |||||||||||||||||
| J12: subcontract hours | PROJECTS (timesheets, billing and the monthly estimate review) | subcontractor invoices | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J01: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 13,873.18 | 16,570.73 | 19,268.29 | 23,892.68 | 26,204.88 | -30,460.42 | 15,348.57 | 9,931.43 | 94,629.34 | |||||||||||||||||
| J01: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 63,200 | 0 | 0 | 0 | 0 | 63,200 | |||||||||||||||||
| J01: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 10,147.14 | 5,415.71 | 2,507.14 | 0 | |||||||||||||||||
| J02: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 13,948.72 | 18,871.79 | 18,051.28 | 13,128.21 | 0 | 0 | 0 | 0 | 64,000 | |||||||||||||||||
| J02: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 19,200 | 25,600 | 0 | 19,200 | 0 | 0 | 0 | 0 | 64,000 | |||||||||||||||||
| J02: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J03: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 8,937.5 | 12,187.5 | 12,187.5 | 11,375 | 7,312.5 | 0 | 52,000 | |||||||||||||||||
| J03: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 15,600 | 0 | 20,800 | 0 | 15,600 | 0 | 52,000 | |||||||||||||||||
| J03: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J04: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 49,436 | |||||||||||||||||
| J04: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 6,460 | 8,024 | 7,616 | 7,480 | 7,888 | 7,072 | 4,896 | 49,436 | |||||||||||||||||
| J04: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J05: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 64,440 | |||||||||||||||||
| J05: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 7,920 | 8,400 | 8,760 | 8,280 | 8,520 | 8,640 | 8,160 | 5,760 | 64,440 | |||||||||||||||||
| J05: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J06: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 32,000 | |||||||||||||||||
| J06: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 9,600 | 12,800 | 9,600 | 0 | 0 | 0 | 32,000 | |||||||||||||||||
| J06: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J07: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 0 | 7,680.85 | 10,510.64 | 6,872.34 | 25,063.83 | |||||||||||||||||
| J07: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 0 | 11,400 | 0 | 15,200 | 26,600 | |||||||||||||||||
| J07: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J08: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J09: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 39,744 | |||||||||||||||||
| J09: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 4,992 | 5,248 | 5,120 | 5,056 | 5,184 | 5,312 | 5,120 | 3,712 | 39,744 | |||||||||||||||||
| J09: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J10: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 0 | 0 | 10,400 | 7,600 | 18,000 | |||||||||||||||||
| J10: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 0 | 0 | 10,800 | 14,400 | 25,200 | |||||||||||||||||
| J10: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J11: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 9,818.18 | 13,090.91 | 13,909.09 | 13,090.91 | 12,272.73 | 9,818.18 | 0 | 0 | 72,000 | |||||||||||||||||
| J11: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 21,600 | 0 | 28,800 | 0 | 0 | 21,600 | 0 | 0 | 72,000 | |||||||||||||||||
| J11: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| J12: revenue (progress on the estimate of the month) | PROJECTS (timesheets, billing and the monthly estimate review) | project ledger | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 24,000 | |||||||||||||||||
| J12: billed | PROJECTS (timesheets, billing and the monthly estimate review) | billing system | 0 | 0 | 0 | 0 | 7,200 | 9,600 | 7,200 | 0 | 24,000 | |||||||||||||||||
| J12: onerous provision at month end | PROJECTS (timesheets, billing and the monthly estimate review) | estimate review | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Service delivery: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 66,650 | 66,650 | 65,350 | 63,700 | 62,050 | 61,000 | 62,200 | 62,200 | 509,800 | |||||||||||||||||
| Service delivery: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 61,000 | 0 | 0 | 61,000 | |||||||||||||||||
| Service delivery: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Service delivery: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 15,829.38 | 15,829.38 | 15,520.62 | 15,128.75 | 14,736.88 | 28,975 | 14,772.5 | 14,772.5 | 135,565.01 | |||||||||||||||||
| Service delivery: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 7,331.5 | 7,331.5 | 7,188.5 | 7,007 | 6,825.5 | 13,420 | 6,842 | 6,842 | 62,788 | |||||||||||||||||
| Service delivery: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 8,583.08 | 8,583.08 | 8,463.11 | 8,258.79 | 8,054.47 | 15,510.96 | 7,851.7 | 7,851.7 | 73,156.89 | |||||||||||||||||
| Service delivery: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 8,249.2 | 8,159 | 7,960 | 7,417.8 | 7,478.4 | 7,227.6 | 6,988.8 | 6,302.4 | 59,783.2 | |||||||||||||||||
| Service delivery: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,011.83 | 2,011.83 | 1,966.17 | 1,916.85 | 1,867.53 | 1,856.5 | 1,901.1 | 1,901.1 | 15,432.91 | |||||||||||||||||
| Service delivery: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 50,735.42 | 50,735.42 | 49,698.39 | 48,434.21 | 47,170.03 | 93,069.04 | 47,506.3 | 47,506.3 | 434,855.11 | |||||||||||||||||
| Projects: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 27,200 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 29,350 | 232,650 | |||||||||||||||||
| Projects: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 29,350 | 0 | 0 | 29,350 | |||||||||||||||||
| Projects: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Projects: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 6,460 | 6,970.62 | 6,970.62 | 6,970.62 | 6,970.62 | 13,941.25 | 6,970.62 | 6,970.62 | 62,224.97 | |||||||||||||||||
| Projects: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,992 | 3,228.5 | 3,228.5 | 3,228.5 | 3,228.5 | 6,457 | 3,228.5 | 3,228.5 | 28,820 | |||||||||||||||||
| Projects: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 4,702.8 | 5,051.96 | 5,051.96 | 5,051.96 | 5,051.96 | 10,103.92 | 5,051.96 | 5,051.96 | 45,118.48 | |||||||||||||||||
| Projects: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,414.4 | 2,587 | 2,587 | 2,472.6 | 2,558.4 | 2,472.6 | 2,329.6 | 2,100.8 | 19,522.4 | |||||||||||||||||
| Projects: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 669.6 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 724.18 | 5,738.86 | |||||||||||||||||
| Projects: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 19,505.2 | 21,069.54 | 21,069.54 | 21,069.54 | 21,069.54 | 42,139.08 | 21,069.54 | 21,069.54 | 188,061.52 | |||||||||||||||||
| Sales and marketing: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 14,000 | 14,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 124,000 | |||||||||||||||||
| Sales and marketing: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 16,000 | 0 | 0 | 16,000 | |||||||||||||||||
| Sales and marketing: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| Sales and marketing: commissions paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,104.84 | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 18,144.9 | |||||||||||||||||
| Sales and marketing: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 3,587.4 | 3,498.61 | 3,981.07 | 4,903.06 | 3,981.88 | 8,519.21 | 4,013.66 | 5,074.52 | 37,559.41 | |||||||||||||||||
| Sales and marketing: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,661.53 | 1,620.41 | 1,843.86 | 2,270.89 | 1,844.24 | 3,945.74 | 1,858.96 | 2,350.3 | 17,395.93 | |||||||||||||||||
| Sales and marketing: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,717.88 | 2,661.55 | 2,967.62 | 3,552.53 | 2,968.13 | 6,288.65 | 2,988.3 | 3,661.31 | 27,805.97 | |||||||||||||||||
| Sales and marketing: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,207.2 | 1,194 | 1,393 | 1,331.4 | 1,377.6 | 1,331.4 | 1,254.4 | 1,131.2 | 10,220.2 | |||||||||||||||||
| Sales and marketing: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 339 | 339 | 392 | 392 | 392 | 392 | 392 | 392 | 3,030 | |||||||||||||||||
| Sales and marketing: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 10,725.43 | 10,449.03 | 11,950.91 | 14,821.05 | 11,953.44 | 25,635.97 | 12,052.38 | 15,354.79 | 112,943 | |||||||||||||||||
| General and administrative: base salaries paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 21,450 | 171,600 | |||||||||||||||||
| General and administrative: holiday allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 21,450 | 0 | 0 | 21,450 | |||||||||||||||||
| General and administrative: Christmas allowance paid | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| General and administrative: employer social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 5,094.38 | 10,188.75 | 5,094.38 | 5,094.38 | 45,849.41 | |||||||||||||||||
| General and administrative: employee social security | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 2,359.5 | 4,719 | 2,359.5 | 2,359.5 | 21,235.5 | |||||||||||||||||
| General and administrative: IRS withheld | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 4,351.93 | 8,703.86 | 4,351.93 | 4,351.93 | 39,167.37 | |||||||||||||||||
| General and administrative: meal allowance (card) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 1,810.8 | 1,791 | 1,791 | 1,711.8 | 1,771.2 | 1,711.8 | 1,612.8 | 1,454.4 | 13,654.8 | |||||||||||||||||
| General and administrative: work accident and health insurance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 513.23 | 4,105.84 | |||||||||||||||||
| General and administrative: net pay | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll journal | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 14,738.57 | 29,477.14 | 14,738.57 | 14,738.57 | 132,647.13 | |||||||||||||||||
| Headcount: Service desk analysts | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 0 | |||||||||||||||||
| Headcount: Support engineers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 12 | 12 | 12 | 11 | 10 | 10 | 10 | 10 | 0 | |||||||||||||||||
| Headcount: Systems engineers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 6 | 6 | 6 | 6 | 6 | 5 | 5 | 5 | 0 | |||||||||||||||||
| Headcount: Field technicians | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 6 | 6 | 5 | 5 | 5 | 6 | 6 | 6 | 0 | |||||||||||||||||
| Headcount: NOC and security analysts | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 0 | |||||||||||||||||
| Headcount: Service delivery managers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Project engineers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 0 | |||||||||||||||||
| Headcount: Project managers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Sales director | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Account managers | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 0 | |||||||||||||||||
| Headcount: Presales engineer | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Marketing | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Directors (CEO and CTO, founders) | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Finance | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 0 | |||||||||||||||||
| Headcount: People and HR | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Headcount: Procurement and logistics | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | |||||||||||||||||
| Headcount: Office administration | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | payroll | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | |||||||||||||||||
| Commissions earned | PAYROLL BY DEPARTMENT (payroll journal) AND HEADCOUNT | commission statements | 730.98 | 762.39 | 4,644.48 | 765.81 | 3,870.36 | 899.64 | 5,366.4 | 461.01 | 17,501.07 | |||||||||||||||||
| Service tooling invoice (USD) | DELIVERY COSTS, OVERHEADS AND CAPEX | vendor invoice | 22,632.54 | 22,681.16 | 23,112.28 | 23,160.22 | 22,810.7 | 22,847.76 | 23,386.32 | 23,441.74 | 184,072.72 | |||||||||||||||||
| Colocation and backup storage | DELIVERY COSTS, OVERHEADS AND CAPEX | supplier invoice | 8,856.6 | 8,856.6 | 8,883.6 | 8,885.4 | 8,870.1 | 8,871 | 8,900.7 | 8,902.5 | 71,026.5 | |||||||||||||||||
| Field vans: rental, fuel and tolls | DELIVERY COSTS, OVERHEADS AND CAPEX | direct debits | 5,636.01 | 5,397.13 | 4,560.78 | 4,836.18 | 4,674.39 | 5,555.41 | 5,465.7 | 5,641.87 | 41,767.47 | |||||||||||||||||
| Cabling and electrical subcontractors | DELIVERY COSTS, OVERHEADS AND CAPEX | supplier invoices | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 1,500 | 12,000 | |||||||||||||||||
| Office rent, Porto (VAT exempt; 25% IRC withheld) | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 84,000 | |||||||||||||||||
| Statutory audit, legal and tax advisers | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 4,238.97 | 4,194.22 | 12,151.32 | 4,122.45 | 4,050.77 | 4,306.92 | 3,980.83 | 4,029.51 | 41,074.99 | |||||||||||||||||
| Insurance (general liability, property, cyber) | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 15,200 | |||||||||||||||||
| Marketing and events | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 5,721.45 | 6,104.26 | 6,356.46 | 6,204.67 | 11,651.5 | 6,129.67 | 5,939.39 | 3,226.47 | 51,333.87 | |||||||||||||||||
| Training and certifications | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 3,760.19 | 3,786.21 | 3,761.17 | 3,893.49 | 3,796.58 | 3,623.46 | 3,822.18 | 3,812.14 | 30,255.42 | |||||||||||||||||
| Recruitment | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 404.52 | 2,528.86 | 2,601.49 | 387.16 | 399.43 | 2,520.56 | 2,643.47 | 397.58 | 11,883.07 | |||||||||||||||||
| Travel (VAT not recovered) | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 3,255.03 | 3,233.46 | 3,246.93 | 3,103.37 | 3,316.44 | 3,255.01 | 3,174.36 | 3,156.39 | 25,740.99 | |||||||||||||||||
| Telecoms and internal IT | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 4,317.95 | 4,386.24 | 4,056.41 | 3,876.23 | 4,219.65 | 4,256.38 | 4,126.14 | 4,313.73 | 33,552.73 | |||||||||||||||||
| Office services and utilities | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 2,842.61 | 2,764.22 | 2,772.09 | 2,659.64 | 2,737.06 | 2,713.85 | 2,662.66 | 2,769.61 | 21,921.74 | |||||||||||||||||
| Occupational health and safety | DELIVERY COSTS, OVERHEADS AND CAPEX | ledger | 425.58 | 453.22 | 441.7 | 436.67 | 451.04 | 454.52 | 427.67 | 447.76 | 3,538.16 | |||||||||||||||||
| Capex: IT equipment | DELIVERY COSTS, OVERHEADS AND CAPEX | asset register | 1,800 | 3,100 | 12,900 | 1,800 | 1,800 | 3,100 | 3,100 | 1,800 | 29,400 | |||||||||||||||||
| Customer receipts: Portugal (incl. VAT) | RECEIPTS (bank) | bank | 858,639.12 | 855,237.39 | 696,752.39 | 683,693.77 | 729,320.38 | 690,855.75 | 685,015.9 | 671,031.68 | 5,870,546.38 | |||||||||||||||||
| Customer receipts: Spain | RECEIPTS (bank) | bank | 105,400.15 | 108,208.67 | 114,932.76 | 86,944.98 | 111,199.22 | 83,272.23 | 84,401.75 | 87,160.52 | 781,520.28 | |||||||||||||||||
| Distributor rebate received | RECEIPTS (bank) | bank | 0 | 19,612.92 | 0 | 0 | 7,858.52 | 0 | 0 | 8,542.93 | 36,014.37 | |||||||||||||||||
| Licence incentive received | RECEIPTS (bank) | bank | 0 | 12,530.38 | 0 | 0 | 15,825.34 | 0 | 0 | 10,711.89 | 39,067.61 | |||||||||||||||||
| Hardware distributors (incl. VAT) | PAYMENTS (bank) | bank | 265,273.96 | 171,017.48 | 213,959.75 | 259,420.58 | 209,385.41 | 218,285.26 | 272,849.15 | 190,772.21 | 1,800,963.8 | |||||||||||||||||
| Licence distributor (incl. VAT) | PAYMENTS (bank) | bank | 193,719.66 | 349,276.45 | 139,566.97 | 159,995.68 | 146,302.45 | 141,212.09 | 151,673.02 | 141,778.32 | 1,423,524.64 | |||||||||||||||||
| Other suppliers (incl. VAT) | PAYMENTS (bank) | bank | 41,041.89 | 38,265.72 | 44,873.9 | 71,149.64 | 51,792.63 | 61,416.53 | 60,928.04 | 59,626.62 | 429,094.97 | |||||||||||||||||
| Service tooling vendor (EUR debited) | PAYMENTS (bank) | bank | 19,321.57 | 19,196.39 | 19,532.52 | 20,019.3 | 20,160.36 | 19,710.27 | 19,650.61 | 20,065.48 | 157,656.5 | |||||||||||||||||
| Social security (20th) | PAYMENTS (bank) | bank | 44,038.67 | 45,315.69 | 45,932.9 | 46,187.05 | 46,962.7 | 45,041.5 | 90,165.95 | 45,140.12 | 408,784.58 | |||||||||||||||||
| IRS withheld (20th) | PAYMENTS (bank) | bank | 19,781.39 | 20,355.69 | 20,648.52 | 20,834.62 | 21,215.21 | 20,426.49 | 40,607.39 | 20,243.89 | 184,113.2 | |||||||||||||||||
| IRC withheld on rent (20th) | PAYMENTS (bank) | bank | 2,560.97 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 20,935.97 | |||||||||||||||||
| VAT (25th of the second month) | PAYMENTS (bank) | bank | 72,032.56 | 63,480.47 | 55,311.12 | 43,816.63 | 38,392.7 | 61,335.95 | 46,260.95 | 0 | 380,630.38 | |||||||||||||||||
| IRC: balance for the prior year (Modelo 22) | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 0 | 0 | 105,752.96 | |||||||||||||||||
| IRC: payments on account | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 0 | 0 | 73,084.59 | 0 | 73,084.59 | |||||||||||||||||
| Loan principal | PAYMENTS (bank) | bank | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 266,666.64 | |||||||||||||||||
| Loan interest | PAYMENTS (bank) | bank | 4,752.58 | 4,640.22 | 4,699 | 4,704 | 4,652.08 | 4,578.67 | 4,477.92 | 4,409.78 | 36,914.25 | |||||||||||||||||
| Dividends declared (general meeting of 30 March 2026) | PAYMENTS (bank) | minutes | 0 | 0 | 360,000 | 0 | 0 | 0 | 0 | 0 | 360,000 | |||||||||||||||||
| Dividends paid (net of IRS withheld) | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 259,200 | 0 | 0 | 0 | 259,200 | |||||||||||||||||
| IRS withheld on dividends paid | PAYMENTS (bank) | bank | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 100,800 |
| label | basis | section | format | kind | bold | value c | value d |
|---|---|---|---|---|---|---|---|
| Cash at bank | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 950,000 | |
| Receivables: customers in Portugal (incl. VAT) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,083,767.62 | |
| Receivables: customers in Spain | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 193,321.41 | |
| Hardware stock | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 96,500 | |
| Prepaid annual licence costs | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 64,600 | |
| Rebates and incentives receivable | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 32,143.3 | |
| Rent deposit | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 21,000 | |
| Contract assets: projects | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| IT equipment: cost | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 186,000 | |
| IT equipment: accumulated depreciation | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 121,000 | |
| Office fit-out: cost | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 140,000 | |
| Office fit-out: accumulated depreciation | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 84,000 | |
| Customer relationships: cost | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 480,000 | |
| Customer relationships: accumulated amortisation | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 105,000 | |
| Goodwill | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 920,000 | |
| Trade payables: hardware distributors | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 265,273.96 | |
| Trade payables: licence distributor | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 193,719.66 | |
| Trade payables: service tooling vendor (USD, at the December rate) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 19,311.67 | |
| Trade payables: other suppliers | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 41,041.89 | |
| Contract liabilities: annual licences billed ahead | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 85,000 | |
| Contract liabilities: projects billed ahead | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 33,912.2 | |
| Contract liabilities: onboarding fees deferred | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 8,056.25 | |
| SLA credits due to customers | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| VAT payable (November and December returns) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 135,513.03 | |
| Social security payable (December) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 44,038.67 | |
| IRS withheld payable (December) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 19,781.39 | |
| IRC withheld on rent payable | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 2,560.97 | |
| Commissions payable (incl. social security) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,367.24 | |
| Holiday pay and holiday allowance accrued (vested 1-Jan-26, incl. social security) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 320,017.5 | |
| Christmas allowance accrued | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| Corporate income tax payable (FY2025 balance) | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 105,752.96 | |
| Bank term loan | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,300,000 | |
| IRS withheld on dividends payable | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| Onerous project provision | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 0 | |
| Share capital | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 50,000 | |
| Legal reserve | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 10,000 | |
| Retained earnings | FY25 accounts | OPENING BALANCE SHEET AT 31-DEC-25 (FY2025 accounts, fictional) | int | input | False | 1,221,984.94 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Office rent, Porto (VAT exempt; 25% IRC withheld) | OVERHEADS | no VAT or not recovered | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,500 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 10,762.5 | 126,000 | 129,150 |
| Statutory audit, legal and tax advisers | OVERHEADS | Portuguese VAT 23% recovered | 4,238.97 | 4,194.22 | 12,151.32 | 4,122.45 | 4,050.77 | 4,306.92 | 3,980.83 | 4,029.51 | 4,176 | 4,176 | 4,176 | 4,176 | 4,280.4 | 4,280.4 | 11,808 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 4,280.4 | 57,778.99 | 58,892.4 |
| Insurance (general liability, property, cyber) | OVERHEADS | no VAT or not recovered | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 1,947.5 | 22,800 | 23,370 |
| Marketing and events | OVERHEADS | Portuguese VAT 23% recovered | 5,721.45 | 6,104.26 | 6,356.46 | 6,204.67 | 11,651.5 | 6,129.67 | 5,939.39 | 3,226.47 | 6,045 | 11,700 | 6,045 | 6,045 | 6,196.125 | 6,196.125 | 6,196.125 | 6,196.125 | 11,992.5 | 6,196.125 | 6,196.125 | 3,331.25 | 6,196.125 | 11,992.5 | 6,196.125 | 6,196.125 | 81,168.87 | 83,081.375 |
| Training and certifications | OVERHEADS | Portuguese VAT 23% recovered | 3,760.19 | 3,786.21 | 3,761.17 | 3,893.49 | 3,796.58 | 3,623.46 | 3,822.18 | 3,812.14 | 3,800 | 3,800 | 3,800 | 3,800 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 3,895 | 45,455.42 | 46,740 |
| Recruitment | OVERHEADS | Portuguese VAT 23% recovered | 404.52 | 2,528.86 | 2,601.49 | 387.16 | 399.43 | 2,520.56 | 2,643.47 | 397.58 | 400 | 7,000 | 6,330.8333 | 1,914.2676 | 10,784.8873 | 2,035.6909 | 4,234.3832 | 4,330.9725 | 2,129.8991 | 4,354.4894 | 2,179.8813 | 2,179.2979 | 2,204.6752 | 2,204.3859 | 2,204.0932 | 2,204.1 | 27,528.171 | 41,046.756 |
| Travel (VAT not recovered) | OVERHEADS | no VAT or not recovered | 3,255.03 | 3,233.46 | 3,246.93 | 3,103.37 | 3,316.44 | 3,255.01 | 3,174.36 | 3,156.39 | 3,200 | 3,200 | 3,200 | 3,200 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 3,280 | 38,540.99 | 39,360 |
| Telecoms and internal IT | OVERHEADS | Portuguese VAT 23% recovered | 4,317.95 | 4,386.24 | 4,056.41 | 3,876.23 | 4,219.65 | 4,256.38 | 4,126.14 | 4,313.73 | 4,200 | 4,200 | 4,200 | 4,200 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 4,305 | 50,352.73 | 51,660 |
| Office services and utilities | OVERHEADS | Portuguese VAT 23% recovered | 2,842.61 | 2,764.22 | 2,772.09 | 2,659.64 | 2,737.06 | 2,713.85 | 2,662.66 | 2,769.61 | 2,700 | 2,700 | 2,700 | 2,700 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 2,767.5 | 32,721.74 | 33,210 |
| Occupational health and safety | OVERHEADS | no VAT or not recovered | 425.58 | 453.22 | 441.7 | 436.67 | 451.04 | 454.52 | 427.67 | 447.76 | 450 | 450 | 450 | 450 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 461.25 | 5,338.16 | 5,535 |
| TOTAL OVERHEADS | OVERHEADS | 37,366.3 | 39,850.69 | 47,787.57 | 37,083.68 | 43,022.47 | 39,660.37 | 39,176.7 | 34,553.19 | 37,371 | 49,626 | 43,301.8333 | 38,885.2676 | 48,680.1623 | 39,930.9659 | 49,657.2582 | 42,226.2475 | 45,821.5491 | 42,249.7644 | 40,075.1563 | 37,209.6979 | 40,099.9502 | 45,896.0359 | 40,099.3682 | 40,099.375 | 487,685.071 | 512,045.531 | |
| Endpoints under management (users x endpoints per user + devices) | DELIVERY COSTS (cost of revenue) | 5,333.1 | 5,347.4 | 5,474.2 | 5,488.3 | 5,385.5 | 5,396.4 | 5,554.8 | 5,571.1 | 5,585.656 | 5,578.3834 | 6,054.2629 | 6,060.6816 | 6,181.5066 | 6,318.452 | 6,306.8887 | 6,395.3876 | 6,409.4035 | 6,426.7412 | 6,440.7894 | 6,434.9363 | 6,452.3721 | 6,467.4113 | 6,479.9879 | 6,497.5752 | 6,060.6816 | 6,497.5752 | |
| Service tooling invoice (USD): RMM, PSA, endpoint security, backup | DELIVERY COSTS (cost of revenue) | A: invoice; F: endpoints x price + platform fee | 22,632.54 | 22,681.16 | 23,112.28 | 23,160.22 | 22,810.7 | 22,847.76 | 23,386.32 | 23,441.74 | 23,491.2303 | 23,466.5035 | 25,084.4939 | 25,106.3174 | 25,517.1224 | 25,982.7367 | 25,943.4216 | 26,244.3178 | 26,291.9718 | 26,350.9202 | 26,398.6839 | 26,378.7835 | 26,438.065 | 26,489.1986 | 26,531.959 | 26,591.7555 | 281,221.2652 | 315,158.9358 |
| SERVICE TOOLING (EUR at the rate of the month) | DELIVERY COSTS (cost of revenue) | USD / rate | 19,340.7452 | 19,237.6251 | 19,903.7892 | 20,060.8229 | 19,856.1107 | 19,742.2967 | 20,113.8041 | 20,113.033 | 19,907.8223 | 19,886.8674 | 21,258.0457 | 21,276.5402 | 21,624.68 | 22,019.2684 | 21,985.9505 | 22,240.9473 | 22,281.332 | 22,331.2883 | 22,371.766 | 22,354.9012 | 22,405.1398 | 22,448.4734 | 22,484.711 | 22,535.386 | 240,697.5025 | 267,083.8439 |
| COLOCATION AND BACKUP STORAGE | DELIVERY COSTS (cost of revenue) | A: invoice; F: fixed + per device, x inflation | 8,856.6 | 8,856.6 | 8,883.6 | 8,885.4 | 8,870.1 | 8,871 | 8,900.7 | 8,902.5 | 8,904.1216 | 8,901.6908 | 8,990.2169 | 8,989.7417 | 9,238.8299 | 9,270.0085 | 9,267.4742 | 9,285.4116 | 9,286.8043 | 9,288.7626 | 9,289.9757 | 9,287.4515 | 9,289.4118 | 9,291.0373 | 9,291.5508 | 9,293.5181 | 106,812.271 | 111,380.2364 |
| FIELD VANS (rental, fuel, tolls) | DELIVERY COSTS (cost of revenue) | A: direct debits; F: (field technicians + pool van) x cost | 5,636.01 | 5,397.13 | 4,560.78 | 4,836.18 | 4,674.39 | 5,555.41 | 5,465.7 | 5,641.87 | 5,474.7 | 5,420.0452 | 5,421.328 | 5,421.9506 | 5,557.4766 | 5,557.4694 | 5,557.4698 | 6,367.2199 | 6,357.7728 | 6,348.4359 | 6,348.6551 | 6,348.7614 | 6,348.7576 | 6,348.7564 | 6,348.7565 | 6,348.7565 | 63,505.4938 | 73,838.2881 |
| Rent paid to the landlord, net of the IRC withheld (in the month) | RENT AND IRC WITHHELD ON RENT | rent x (1 - 25%) | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 7,875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 8,071.875 | 94,500 | 96,862.5 |
| IRC withheld on rent | RENT AND IRC WITHHELD ON RENT | rent x 25% | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 31,500 | 32,287.5 |
| IRC withheld paid to the State (20th of the following month) | RENT AND IRC WITHHELD ON RENT | A: bank; F: prior month | 2,560.97 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 31,435.97 | 32,221.875 |
| IRC WITHHELD ON RENT PAYABLE | RENT AND IRC WITHHELD ON RENT | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,690.625 | 2,625 | 2,690.625 | |
| Insurance, travel, telecoms incl. VAT and field vans | DIRECT DEBITS (paid in the month) | 16,102.1185 | 15,925.6652 | 14,697.0943 | 14,607.3129 | 15,080.9995 | 15,945.7674 | 15,615.2122 | 16,004.1479 | 15,740.7 | 15,686.0452 | 15,687.328 | 15,687.9506 | 16,080.1266 | 16,080.1194 | 16,080.1198 | 16,889.8699 | 16,880.4228 | 16,871.0859 | 16,871.3051 | 16,871.4114 | 16,871.4076 | 16,871.4064 | 16,871.4065 | 16,871.4065 | 186,780.3417 | 200,110.0881 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex: IT equipment | A: register; F: hires x equipment + replacement | 1,800 | 3,100 | 12,900 | 1,800 | 1,800 | 3,100 | 3,100 | 1,800 | 1,800 | 5,700 | 5,304.5833 | 2,694.7945 | 7,930.6152 | 2,760.6355 | 4,059.8628 | 4,116.9383 | 2,816.304 | 4,130.8347 | 2,845.8389 | 2,845.4942 | 2,860.4899 | 2,860.3189 | 2,860.146 | 2,860.15 | 44,899.3778 | 42,947.6285 | |
| Depreciation of IT equipment held at 31-Dec-25 | register | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,100 | 3,000 | 0 | 0 | 0 | 37,200 | 27,800 | |
| Depreciation of additions (36 months) | 0 | 50 | 136.1111 | 494.4444 | 544.4444 | 594.4444 | 680.5556 | 766.6667 | 816.6667 | 866.6667 | 1,025 | 1,172.3495 | 1,247.2049 | 1,467.4998 | 1,544.1841 | 1,656.9581 | 1,771.3175 | 1,849.5482 | 1,964.2936 | 2,043.3446 | 2,122.3862 | 2,201.8442 | 2,281.2975 | 2,360.746 | 7,147.3495 | 22,510.6247 | ||
| Depreciation of the office fit-out | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 1,166.67 | 14,000.04 | 14,000.04 | ||
| DEPRECIATION | 4,266.67 | 4,316.67 | 4,402.7811 | 4,761.1144 | 4,811.1144 | 4,861.1144 | 4,947.2256 | 5,033.3367 | 5,083.3367 | 5,133.3367 | 5,291.67 | 5,439.0195 | 5,513.8749 | 5,734.1698 | 5,810.8541 | 5,923.6281 | 6,037.9875 | 6,116.2182 | 6,230.9636 | 6,310.0146 | 6,289.0562 | 3,368.5142 | 3,447.9675 | 3,527.416 | 58,347.3895 | 64,310.6647 | ||
| AMORTISATION: CUSTOMER RELATIONSHIPS | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 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 | 60,000 | ||
| DEPRECIATION AND AMORTISATION | 9,266.67 | 9,316.67 | 9,402.7811 | 9,761.1144 | 9,811.1144 | 9,861.1144 | 9,947.2256 | 10,033.3367 | 10,083.3367 | 10,133.3367 | 10,291.67 | 10,439.0195 | 10,513.8749 | 10,734.1698 | 10,810.8541 | 10,923.6281 | 11,037.9875 | 11,116.2182 | 11,230.9636 | 11,310.0146 | 11,289.0562 | 8,368.5142 | 8,447.9675 | 8,527.416 | 118,347.3895 | 124,310.6647 | ||
| IT EQUIPMENT AND FIT-OUT, NET BOOK VALUE | 118,533.33 | 117,316.66 | 125,813.8789 | 122,852.7644 | 119,841.65 | 118,080.5356 | 116,233.31 | 112,999.9733 | 109,716.6367 | 110,283.3 | 110,296.2133 | 107,551.9883 | 109,968.7286 | 106,995.1943 | 105,244.203 | 103,437.5132 | 100,215.8297 | 98,230.4462 | 94,845.3216 | 91,380.8012 | 87,952.2349 | 87,444.0397 | 86,856.2181 | 86,188.9521 | 107,551.9883 | 86,188.9521 | ||
| CUSTOMER RELATIONSHIPS, NET BOOK VALUE | 370,000 | 365,000 | 360,000 | 355,000 | 350,000 | 345,000 | 340,000 | 335,000 | 330,000 | 325,000 | 320,000 | 315,000 | 310,000 | 305,000 | 300,000 | 295,000 | 290,000 | 285,000 | 280,000 | 275,000 | 270,000 | 265,000 | 260,000 | 255,000 | 315,000 | 255,000 | ||
| GOODWILL (not amortised; impairment test each year) | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 | 920,000 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Output VAT: invoices to customers in Portugal | Receivables | 160,670.7831 | 119,238.3974 | 130,974.9139 | 138,341.3701 | 125,854.6039 | 128,906.1504 | 124,230.6746 | 100,403.6886 | 146,211.7259 | 154,756.7871 | 173,818.6975 | 151,244.1858 | 195,582.6748 | 148,547.3595 | 159,104.8313 | 152,083.275 | 152,391.0365 | 163,886.8984 | 148,806.4498 | 122,013.4168 | 167,319.6465 | 174,531.102 | 164,858.545 | 164,076.6149 | 1,654,651.9783 | 1,913,201.8503 | |
| Input VAT: hardware purchases | -31,978.878 | -40,008.7346 | -48,509.5392 | -39,153.3692 | -40,817.5687 | -51,020.5734 | -35,672.8528 | -18,617.4604 | -66,830.8342 | -59,650.0373 | -45,226.6477 | -42,123.166 | -38,089.5228 | -44,830.2498 | -48,553.8392 | -41,935.76 | -46,002.7634 | -54,341.8375 | -37,084.7914 | -20,781.4553 | -66,598.7751 | -59,650.0373 | -45,226.6477 | -42,123.166 | -519,609.6616 | -545,218.8456 | ||
| Input VAT: licence distributor | -65,311.8557 | -26,097.8884 | -29,917.8917 | -27,357.3684 | -26,405.5134 | -28,361.622 | -26,511.3939 | -22,212.1235 | -31,158.3494 | -30,742.2253 | -32,369.9045 | -36,078.5051 | -70,907.6179 | -29,311.0212 | -32,970.3534 | -30,474.559 | -29,915.6881 | -32,157.6888 | -29,863.3744 | -25,310.2129 | -33,991.3135 | -33,553.4727 | -34,025.1212 | -37,905.8308 | -382,524.6414 | -420,386.2539 | ||
| Input VAT: other suppliers and telecoms | -8,068.9267 | -9,315.1403 | -14,154.7842 | -10,494.6792 | -12,370.5707 | -12,287.0232 | -12,018.7351 | -9,336.0542 | -10,036.8446 | -15,939.0959 | -14,230.8998 | -10,597.2901 | -14,125.4443 | -11,541.3813 | -14,290.2297 | -12,476.3149 | -12,851.8646 | -12,729.7613 | -11,415.6814 | -9,749.175 | -11,790.7299 | -13,459.7612 | -11,943.553 | -11,791.4639 | -138,850.0441 | -148,165.3605 | ||
| NET VAT FOR THE MONTH | 55,311.1227 | 43,816.6341 | 38,392.6988 | 61,335.9533 | 46,260.9511 | 37,236.9318 | 50,027.6928 | 50,238.0505 | 38,185.6976 | 48,425.4285 | 81,991.2454 | 62,445.2246 | 72,460.0898 | 62,864.7072 | 63,290.4091 | 67,196.641 | 63,620.7204 | 64,657.6109 | 70,442.6026 | 66,172.5736 | 54,938.828 | 67,867.8307 | 73,663.223 | 72,256.1542 | 613,667.6312 | 799,431.3904 | ||
| VAT paid (25th of the second month; June and July in September) | A: bank; F: the return due | 72,032.56 | 63,480.47 | 55,311.12 | 43,816.63 | 38,392.7 | 61,335.95 | 46,260.95 | 0 | 87,264.6245 | 50,238.0505 | 38,185.6976 | 48,425.4285 | 81,991.2454 | 62,445.2246 | 72,460.0898 | 62,864.7072 | 63,290.4091 | 67,196.641 | 63,620.7204 | 0 | 135,100.2134 | 66,172.5736 | 54,938.828 | 67,867.8307 | 604,744.1812 | 797,948.4833 | |
| VAT PAYABLE | opening + net - paid | 118,791.5927 | 99,127.7568 | 82,209.3356 | 99,728.6589 | 107,596.91 | 83,497.8917 | 87,264.6345 | 137,502.685 | 88,423.7581 | 86,611.1361 | 130,416.6839 | 144,436.48 | 134,905.3244 | 135,324.8069 | 126,155.1262 | 130,487.06 | 130,817.3714 | 128,278.3412 | 135,100.2234 | 201,272.797 | 121,111.4116 | 122,806.6687 | 141,531.0637 | 145,919.3871 | 144,436.48 | 145,919.3871 | |
| Check: payable equals the returns not yet paid (must be zero) | this month and last; three months at August | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Reverse charge on the USD tooling vendor (self-assessed and deducted: nets to zero) | memo | 4,448.3714 | 4,424.6538 | 4,577.8715 | 4,613.9893 | 4,566.9055 | 4,540.7282 | 4,626.1749 | 4,625.9976 | 4,578.7991 | 4,573.9795 | 4,889.3505 | 4,893.6042 | 4,973.6764 | 5,064.4317 | 5,056.7686 | 5,115.4179 | 5,124.7064 | 5,136.1963 | 5,145.5062 | 5,141.6273 | 5,153.1822 | 5,163.1489 | 5,171.4835 | 5,183.1388 | 55,360.4256 | 61,429.2841 | |
| Services to Spanish businesses (recapitulative statement, by the 20th) | memo | 99,404.4578 | 57,334.2251 | 89,918.7627 | 59,081.5023 | 58,185.8501 | 81,321.2466 | 58,036.8924 | 52,758.8533 | 63,666.0752 | 65,006.9607 | 65,355.3835 | 67,502.4027 | 94,564.0302 | 68,980.1343 | 72,093.83 | 77,763.2294 | 73,728.0712 | 77,691.1319 | 73,651.4146 | 65,822.402 | 77,711.8503 | 79,711.9162 | 79,331.331 | 81,210.8399 | 817,572.6124 | 922,260.181 | |
| Hardware delivered to Spanish businesses (exempt intra-EU supply) | memo | 22,320 | 23,640 | 26,880 | 24,120 | 25,440 | 28,560 | 23,520 | 14,520 | 32,398.08 | 35,143.68 | 29,377.92 | 26,906.88 | 24,161.28 | 25,259.52 | 28,828.8 | 26,083.2 | 27,456 | 30,750.72 | 25,259.52 | 16,473.6 | 32,398.08 | 35,143.68 | 29,377.92 | 26,906.88 | 312,826.56 | 328,099.2 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit before tax | PL | 31,963.5996 | 43,133.9524 | 62,391.0208 | 75,497.446 | 55,155.1549 | 372.3181 | 57,547.3151 | 38,158.4445 | 91,702.8858 | 108,182.4781 | 101,336.217 | 115,797.1671 | 80,246.0959 | 94,279.0199 | 101,855.9895 | 108,108.0351 | 99,244.4927 | 124,459.6044 | 111,778.3053 | 84,261.3352 | 124,389.0354 | 133,542.2919 | 126,902.1256 | 131,654.9924 | 781,237.9994 | 1,320,721.3234 | |
| Taxable profit year to date (no tax adjustments modelled) | 31,963.5996 | 75,097.552 | 137,488.5728 | 212,986.0188 | 268,141.1738 | 268,513.4918 | 326,060.8069 | 364,219.2514 | 455,922.1372 | 564,104.6153 | 665,440.8323 | 781,237.9994 | 80,246.0959 | 174,525.1158 | 276,381.1053 | 384,489.1404 | 483,733.6332 | 608,193.2376 | 719,971.5429 | 804,232.8781 | 928,621.9135 | 1,062,164.2054 | 1,189,066.331 | 1,320,721.3234 | 781,237.9994 | 1,320,721.3234 | ||
| IRC general rate | timeline | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 19% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 19% | 18% | |
| IRC year to date (SME rate on the first EUR 50,000) | 4,794.5399 | 12,268.5349 | 24,122.8288 | 38,467.3436 | 48,946.823 | 49,017.5634 | 59,951.5533 | 67,201.6578 | 84,625.2061 | 105,179.8769 | 124,433.7581 | 146,435.2199 | 12,944.2973 | 29,914.5209 | 48,248.599 | 67,708.0453 | 85,572.054 | 107,974.7828 | 128,094.8777 | 143,261.9181 | 165,651.9444 | 189,689.557 | 212,531.9396 | 236,229.8382 | 146,435.2199 | 236,229.8382 | ||
| Derrama year to date | taxable profit x 1.5% | 479.454 | 1,126.4633 | 2,062.3286 | 3,194.7903 | 4,022.1176 | 4,027.7024 | 4,890.9121 | 5,463.2888 | 6,838.8321 | 8,461.5692 | 9,981.6125 | 11,718.57 | 1,203.6914 | 2,617.8767 | 4,145.7166 | 5,767.3371 | 7,256.0045 | 9,122.8986 | 10,799.5731 | 12,063.4932 | 13,929.3287 | 15,932.4631 | 17,835.995 | 19,810.8199 | 11,718.57 | 19,810.8199 | |
| Tax year to date | 5,273.9939 | 13,394.9982 | 26,185.1574 | 41,662.1339 | 52,968.9406 | 53,045.2658 | 64,842.4654 | 72,664.9465 | 91,464.0381 | 113,641.4461 | 134,415.3706 | 158,153.7899 | 14,147.9887 | 32,532.3976 | 52,394.3155 | 73,475.3824 | 92,828.0585 | 117,097.6813 | 138,894.4509 | 155,325.4112 | 179,581.2731 | 205,622.02 | 230,367.9345 | 256,040.6581 | 158,153.7899 | 256,040.6581 | ||
| CHARGE FOR THE MONTH (P&L) | 5,273.9939 | 8,121.0042 | 12,790.1593 | 15,476.9764 | 11,306.8068 | 76.3252 | 11,797.1996 | 7,822.4811 | 18,799.0916 | 22,177.408 | 20,773.9245 | 23,738.4193 | 14,147.9887 | 18,384.4089 | 19,861.9179 | 21,081.0668 | 19,352.6761 | 24,269.6229 | 21,796.7695 | 16,430.9604 | 24,255.8619 | 26,040.7469 | 24,745.9145 | 25,672.7235 | 158,153.7899 | 256,040.6581 | ||
| Payments on account (July, September, December) | A: bank; F: 95% of the prior-year IRC / 3 | 0 | 0 | 0 | 0 | 0 | 0 | 73,084.59 | 0 | 73,084.5925 | 0 | 0 | 73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | 46,371.153 | 0 | 46,371.153 | 0 | 0 | 46,371.153 | 219,253.775 | 139,113.4589 | |
| Balance for the prior year paid with the Modelo 22 | A: bank; F: May 2027, if tax exceeds the payments on account | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 0 | |
| Overpayment refunded | F: month on Assumptions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61,099.9851 | 0 | 0 | 0 | 0 | 61,099.9851 | |
| Tax paid less refunds (cash) | 0 | 0 | 0 | 0 | 0 | 105,752.96 | 73,084.59 | 0 | 73,084.5925 | 0 | 0 | 73,084.5925 | 0 | 0 | 0 | 0 | 0 | 0 | 46,371.153 | 0 | -14,728.8322 | 0 | 0 | 46,371.153 | 325,006.735 | 78,013.4738 | ||
| IRC PAYABLE / (RECOVERABLE) | opening + charge - paid + refunded | 111,026.9539 | 119,147.9582 | 131,938.1174 | 147,415.0939 | 158,721.9006 | 53,045.2658 | -8,242.1246 | -419.6435 | -54,705.1444 | -32,527.7364 | -11,753.8119 | -61,099.9851 | -46,951.9964 | -28,567.5875 | -8,705.6696 | 12,375.3973 | 31,728.0733 | 55,997.6962 | 31,423.3128 | 47,854.2731 | 86,838.9672 | 112,879.7141 | 137,625.6286 | 116,927.1992 | -61,099.9851 | 116,927.1992 | |
| Effective tax rate on profit before tax (year to date) | 16.5% | 17.84% | 19.05% | 19.56% | 19.75% | 19.76% | 19.89% | 19.95% | 20.06% | 20.15% | 20.2% | 20.24% | 17.63% | 18.64% | 18.96% | 19.11% | 19.19% | 19.25% | 19.29% | 19.31% | 19.34% | 19.36% | 19.37% | 19.39% | 20.24% | 19.39% |
| label | basis | section | format | kind | bold | value c | value d |
|---|---|---|---|---|---|---|---|
| December 2026 payment on account if paid in full | helper: single value in column C | int | calc | False | 73,084.5925 | ||
| December 2026 payment on account if limited under CIRC art. 107 | helper: single value in column C | int | calc | False | 266.0374 | ||
| Cash kept in December by limiting it | helper: single value in column C | int | calc | False | 72,818.5551 |
| 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 | TERM LOAN | 1,300,000 | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | |||
| Principal repaid | TERM LOAN | A: bank; F: instalment | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 33,333.33 | 399,999.96 | 399,999.96 |
| Interest | TERM LOAN | A: bank; F: opening x (Euribor + margin) / 12 | 4,752.58 | 4,640.22 | 4,699 | 4,704 | 4,652.08 | 4,578.67 | 4,477.92 | 4,409.78 | 4,004.1668 | 3,875.0001 | 3,745.8335 | 3,616.6668 | 3,487.5002 | 3,358.3335 | 3,229.1668 | 3,100.0002 | 2,970.8335 | 2,841.6669 | 2,712.5002 | 2,583.3336 | 2,454.1669 | 2,325.0003 | 2,195.8336 | 2,066.667 | 52,155.9172 | 33,325.0027 |
| BANK LOAN | TERM LOAN | 1,266,666.67 | 1,233,333.34 | 1,200,000.01 | 1,166,666.68 | 1,133,333.35 | 1,100,000.02 | 1,066,666.69 | 1,033,333.36 | 1,000,000.03 | 966,666.7 | 933,333.37 | 900,000.04 | 866,666.71 | 833,333.38 | 800,000.05 | 766,666.72 | 733,333.39 | 700,000.06 | 666,666.73 | 633,333.4 | 600,000.07 | 566,666.74 | 533,333.41 | 500,000.08 | 900,000.04 | 500,000.08 | |
| EBITDA, last twelve months | COVENANTS (last twelve months; FY2025 months from History) | PL + History | 1,307,358.2296 | 1,275,766.6768 | 1,250,110.7037 | 1,231,630.5849 | 1,205,368.4414 | 1,087,361.5332 | 1,047,270.9771 | 1,022,278.5942 | 994,615.8018 | 978,059.0067 | 960,318.7071 | 951,583.7906 | 999,838.512 | 1,051,263.548 | 1,090,371.8616 | 1,122,425.4538 | 1,165,960.881 | 1,289,712.1087 | 1,343,553.1038 | 1,389,154.5502 | 1,421,743.5712 | 1,443,788.5626 | 1,465,960.7688 | 1,478,356.9908 | 951,583.7906 | 1,478,356.9908 |
| Net debt (loan less cash) | COVENANTS (last twelve months; FY2025 months from History) | 185,380.9685 | 42,077.1665 | -85,102.2166 | -88,962.9097 | -17,907.7153 | 219,520.3326 | 346,998.4193 | 191,280.4772 | 193,211.3878 | 235,245.0581 | 236,746.2674 | 154,302.4188 | 23,700.7193 | -108,347.8047 | -299,733.5762 | -402,330.6623 | -379,363.8024 | -311,764.1351 | -304,130.0044 | -578,656.4689 | -692,665.227 | -688,082.0752 | -752,148.0717 | -830,212.0701 | 154,302.4188 | -830,212.0701 | |
| Net debt / EBITDA | COVENANTS (last twelve months; FY2025 months from History) | at most the covenant | 0.1418 | 0.033 | -0.0681 | -0.0722 | -0.0149 | 0.2019 | 0.3313 | 0.1871 | 0.1943 | 0.2405 | 0.2465 | 0.1622 | 0.0237 | -0.1031 | -0.2749 | -0.3584 | -0.3254 | -0.2417 | -0.2264 | -0.4166 | -0.4872 | -0.4766 | -0.5131 | -0.5616 | 0.1622 | -0.5616 |
| Tax paid less refunds, last twelve months | COVENANTS (last twelve months; FY2025 months from History) | Tax + History | 163,950 | 163,950 | 163,950 | 163,950 | 142,500 | 248,252.96 | 273,837.55 | 273,837.55 | 299,422.1425 | 299,422.1425 | 299,422.1425 | 325,006.735 | 325,006.735 | 325,006.735 | 325,006.735 | 325,006.735 | 325,006.735 | 219,253.775 | 192,540.338 | 192,540.338 | 104,726.9133 | 104,726.9133 | 104,726.9133 | 78,013.4738 | 325,006.735 | 78,013.4738 |
| Capex, last twelve months | COVENANTS (last twelve months; FY2025 months from History) | Fixed_Assets + History | 30,400 | 30,900 | 41,200 | 40,400 | 39,600 | 40,100 | 40,600 | 39,800 | 39,000 | 42,100 | 44,804.5833 | 44,899.3778 | 51,029.9931 | 50,690.6286 | 41,850.4914 | 44,167.4297 | 45,183.7337 | 46,214.5684 | 45,960.4073 | 47,005.9016 | 48,066.3914 | 45,226.7104 | 42,782.273 | 42,947.6285 | 44,899.3778 | 42,947.6285 |
| Debt service (principal and interest), last twelve months | COVENANTS (last twelve months; FY2025 months from History) | 465,940.04 | 464,399.7 | 463,041.76 | 461,812.43 | 460,654.79 | 459,547.35 | 458,462.77 | 457,433.66 | 456,122.5468 | 454,805.8769 | 453,483.6503 | 452,155.8772 | 450,890.7973 | 449,608.9108 | 448,139.0777 | 446,535.0779 | 444,853.8314 | 443,116.8283 | 441,351.4085 | 439,524.9621 | 437,974.9622 | 436,424.9624 | 434,874.9626 | 433,324.9627 | 452,155.8772 | 433,324.9627 | |
| Debt service cover: (EBITDA - tax - capex) / debt service | COVENANTS (last twelve months; FY2025 months from History) | at least the covenant | 2.3887 | 2.3276 | 2.2567 | 2.2245 | 2.2213 | 1.7387 | 1.5985 | 1.5492 | 1.4386 | 1.3996 | 1.3586 | 1.2865 | 1.3835 | 1.5026 | 1.6145 | 1.6869 | 1.7888 | 2.3115 | 2.5038 | 2.6156 | 2.8973 | 2.9646 | 3.0318 | 3.1325 | 1.2865 | 3.1325 |
| Covenant test (June and December) | COVENANTS (last twelve months; FY2025 months from History) | MET | MET | MET | MET | |||||||||||||||||||||||
| Headroom: EBITDA that could be lost before the DSCR covenant breaks | COVENANTS (last twelve months; FY2025 months from History) | 553,880.1816 | 523,637.0368 | 489,310.5917 | 473,105.6689 | 470,482.6934 | 247,551.7532 | 182,678.1031 | 159,720.6522 | 108,846.6031 | 90,769.8119 | 71,911.6009 | 39,090.6251 | 82,732.8272 | 136,035.4914 | 185,747.742 | 217,409.1956 | 261,945.8146 | 492,503.5714 | 575,430.6683 | 622,178.3562 | 743,380.3117 | 770,124.984 | 796,601.6274 | 837,405.9332 | 39,090.6251 | 837,405.9332 | |
| Dividends declared (general meeting in March) | DIVIDENDS | A: minutes; F: March 2027 = payout x FY2026 net profit, within the loan cap, if the December test is met | 0 | 0 | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 280,387.8943 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 360,000 | 280,387.8943 |
| Dividends paid, net of 28% IRS (May) | DIVIDENDS | A: bank; F: May 2027 | 0 | 0 | 0 | 0 | 259,200 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 201,879.2839 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 259,200 | 201,879.2839 |
| IRS withheld on dividends paid | DIVIDENDS | net / (1 - 28%) x 28% | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78,508.6104 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 78,508.6104 |
| DIVIDENDS PAYABLE | DIVIDENDS | opening + declared - paid - withheld | 0 | 0 | 360,000 | 360,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 280,387.8943 | 280,387.8943 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| IRS on dividends paid to the State (20th of the following month) | DIVIDENDS | A: bank; F: prior month | 0 | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78,508.6104 | 0 | 0 | 0 | 0 | 0 | 0 | 100,800 | 78,508.6104 |
| IRS WITHHELD ON DIVIDENDS PAYABLE | DIVIDENDS | 0 | 0 | 0 | 0 | 100,800 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 78,508.6104 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Share capital | DIVIDENDS | opening balance | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 |
| Legal reserve (complete at 20% of share capital) | DIVIDENDS | opening balance | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| label | basis | section | format | kind | bold | value c | value d |
|---|---|---|---|---|---|---|---|
| Debt service cover at Dec-26 with the December payment on account limited (art. 107) | helper: single value in column C | COVENANTS (last twelve months; FY2025 months from History) | x | calc | False | 1.4475 | |
| Debt service cover at Dec-26 with the December payment on account paid in full | helper: single value in column C | COVENANTS (last twelve months; FY2025 months from History) | x | calc | False | 1.2865 |
CFO decisions & actions
Upside · EUR · 2026-01 to 2027-12 · A: actual · F: forecast
| Risk | Likelihood | Impact | Score | Mitigation and owner |
|---|---|---|---|---|
| Covenant: debt service cover at the December test is 1.29x with the December payment on account paid in full and 1.45x if it is limited, against 1.20x; a breach lets the bank call the loan and blocks the 2027 dividend | 4 | 4 | 16 | Election under CIRC art. 107 with the tax adviser; bank briefed before the test; waiver request drafted for the Downside; CEO and BriQs CFO |
| Renewal of Brevanor Têxteis in March 2027: 10.0% of managed services revenue, EUR 277k a year, approached by a competitor during the J01 overrun | 3 | 5 | 15 | J01 closed on the revised estimate; executive sponsor meetings monthly; renewal proposal by November; CEO and account manager |
| Service desk capacity: utilisation 98% in July, SLA credits EUR 38k year to date; Pesqueras Morazal renews in December after two breaches | 4 | 3 | 12 | October and November hires; Venara onboarding phased over two months; SLA recovery plan for Pesqueras Morazal; Service delivery director |
| Project delivery: J01 lost EUR 17k at standard cost; estimates at completion are reviewed monthly, not weekly | 3 | 3 | 9 | Weekly estimate review on fixed-fee projects above EUR 50k; subcontractor caps in the statement of work; Project director |
| Project pipeline: this case needs EUR 110k a month of project revenue against EUR 67k a month so far this year | 3 | 3 | 9 | Pipeline review every two weeks; presales capacity on the three largest renewals; Sales director |
| Hardware and rebates: demand below 2025 and the distributor rebate at tier 1 all year (EUR 11k short of tier 2 in the fourth quarter) | 3 | 2 | 6 | Quarterly purchasing plan against the tiers; consolidated January orders; Procurement lead |
| Collections: Spanish customers pay at about 55 days and the J11 milestone is disputed | 2 | 2 | 4 | Direct debit mandates on renewal; acceptance criteria signed before the final milestone; Finance lead |
| Key people: service desk attrition of 14% a year in a tight Porto market | 4 | 3 | 12 | Retention review for engineers; certification path; salary benchmark before the January pay review; Directors |
| Regulation from January 2027: qualified electronic signature on PDF invoices and the new social security payment window | 2 | 2 | 4 | System changes tested in November; Finance lead |
| USD tooling cost: platforms billed in dollars (a 10% stronger dollar costs about EUR 27k a year) | 2 | 1 | 2 | Budget at a prudent rate; review the vendor contract currency at renewal; Finance lead |
| Action | Owner | Due | Status | Measure of done |
|---|---|---|---|---|
| Elect to limit the 15 December IRC payment on account under CIRC art. 107 (EUR 73k), with the tax adviser confirming the FY2026 estimate | Finance lead with the tax adviser | 2026-11-30 | Open | Payment of 15 December limited; December covenant test met |
| Brief the bank on the December covenant test, with this forecast and the Downside waiver request ready | CEO and BriQs CFO | 2026-10-31 | Open | Meeting held; bank position in writing |
| Service desk hiring: three hires in October, two in November; the Venara onboarding phased over two months if the tender is won | Service delivery director | 2026-10-15 | In progress | Offers accepted; onboarding plan signed off |
| Brevanor Têxteis renewal plan: J01 close-out, service review and renewal proposal | CEO and account manager | 2026-11-30 | Open | Proposal presented; renewal signed by February |
| Pesqueras Morazal: SLA recovery report and renewal price position | Account manager | 2026-10-31 | Open | Recovery report sent; renewal signed before December |
| J01: weekly estimate at completion review and a cap on the data migration subcontractor | Project director | 2026-10-15 | In progress | Weekly review minuted; subcontractor hours capped |
| J11: acceptance test rerun and collection of the final milestone | Project manager and Finance lead | 2026-10-31 | In progress | Acceptance signed; final milestone received |
| Fourth-quarter hardware purchasing plan against the distributor tiers | Procurement lead and Finance lead | 2026-10-31 | Open | Plan agreed; tier position reviewed monthly |
| Qualified electronic signature on invoices and the social security payment window from January 2027 | Finance lead | 2026-11-30 | Open | Test invoices signed; payroll calendar updated |
| Monthly contract margin review from the Contract_Register, with a repricing list for the 2027 renewals | BriQs CFO | 2026-10-15 | Open | Repricing list approved by the directors |
4. How the model works
Inputs_Actuals holds the actual months (users, devices and fees by contract, bundled licences, tickets, SLA attainment and credits, annual and agent licence billings, hardware revenue, cost and stock, rebates and incentives, project hours, revenue, billing and provisions, payroll by department, headcount by band, commissions, delivery costs, overheads, capex, receipts and payments) and the opening balance sheet. History holds FY2025 by month and the fees by contract. The Contract_Register holds every contract and pipeline deal with terms, prices, growth and renewal or win probabilities by scenario; the Project_Register holds every project with fee or rate, dates and the estimate at completion. Assumptions holds Portuguese tax and payroll rates, pay bands, the IRS withholding table, service desk rates, prices, overheads, the timeline and the scenario drivers (selector in Assumptions!C11). Contracts, Service_Desk, Projects, Hardware, Licences and Rebates run the operations; Revenue consolidates. People runs Portuguese payroll by band. Receivables, Payables, VAT, Tax, Overheads, Fixed_Assets and Financing roll every flow and balance. PL, BS and CF link only to schedules. BvA, Scenarios, Cash_13W, KPIs, Margins, the agings and CFO_Report are reporting layers.
5. Methods an IT services CFO will look for
| Area | Treatment |
|---|---|
| Managed service contracts | Fees = (users x price per user + devices x price per device) x a price index that moves at each anniversary by the price review and at each 36-month renewal by the renewal price change; renewals and pipeline deals are expected values at their probability. Net and gross revenue retention on a trailing twelve months by contract. |
| SLA credits | Variable consideration (IFRS 15.50 to 59): estimated from the SLA attainment of the month, reducing revenue then, deducted from the next invoice; the liability equals the credits of the month (checked). |
| Service desk capacity | Tickets from users and devices x seasonality, hours by priority, proactive work and onboarding hours against FTE x productive hours; SLA attainment falls above an 80% utilisation knee (fitted to the PSA data), which drives the credits; FTE needed at the knee shown every month. |
| Onboarding fees | Not a distinct service: recognised over the 36-month term (IFRS 15.B48 to B51), checked against a contract-by-contract schedule. |
| Principal or agent | Hardware (bought, held, configured, priced by the company) and bundled and annual licences (integrated, provisioned and supported by the company) as principal; standard licences delivered by the manufacturer as agent at the net commission (IFRS 15.B34 to B38; IFRIC agenda decision on software resellers, 2022). |
| Annual licence deferrals | Billed a year ahead; revenue and the prepaid vendor cost over 12 months, each proved against a billing schedule. |
| Vendor rebates | Distributor rebate tiered on quarterly purchases for the whole quarter, accrued at the rate the quarter is expected to earn with a catch-up when the tier changes, reducing the cost of hardware (IAS 2.11); licence incentives reduce licence cost or add to agent revenue. |
| Projects | Fixed fee over time on hours to date over hours at completion (IFRS 15.B18 to B19) with the cumulative catch-up when the estimate changes (IFRS 15.88); milestone billing and contract assets and liabilities by project; onerous contract provision for the unavoidable loss at standard cost (IAS 37.66 to 69 and 68A). |
| Commissions | 6% of the first-year fees of a new contract capitalised with its social security and amortised over the 36-month term (IFRS 15.91 and 99). The IFRS 15.94 expedient is not available because the amortisation period exceeds one year; with no commission on renewals the asset could also relate to expected renewals, and the model uses the initial term as the more prudent period. The hardware commission is expensed. |
| Payroll | 14 salaries; holiday pay, holiday allowance and Christmas allowance accrued as the work is done (IAS 19), with the holiday accrual revalued for the January pay review; TSU and IRS on what is paid; meal card and insurance. |
| Covenants and dividends | Net debt to EBITDA and debt service cover on the last twelve months with FY2025 from History, tested at June and December; dividends only when the December test is met, capped at 50% of the prior-year profit. |
| Budget vs actual | Revenue variance by cause (the lost contract, contracts won, existing contracts, SLA credits and each resale and project stream), reconciled to the P&L; EBITDA walk from budget to actual. |
7. Assumptions (company judgements, labelled in the workbook)
- Contracts: user growth by contract on the register x 1.0 in the Base (0.5 Downside, 1.3 Upside); price reviews of 3.0% at anniversaries from September (1.5% and 3.5%); renewal probabilities by contract and scenario; the Venara hospital group at 55% from November 2026 in the Base.
- Service desk: 0.42 tickets per user and 0.17 per device a month, 0.951 hours per ticket on average, 126 productive hours per FTE a month, SLA attainment 98.5% up to 80% utilisation falling 0.65 points per point above; credits of 5% of the fee on the share of fees in breach.
- Hiring: twelve hires from October 2026 to June 2027 (five on the service desk in October and November), attrition by department (14% a year on the service desk), leavers replaced after two months; pay review 3.0% in January 2027.
- Hardware at a run-rate of EUR 208k a month before seasonality and a 12.8% margin before rebates; project revenue topped up to EUR 90k a month from October (EUR 65k Downside, EUR 110k Upside); annual licence billings 4% above the same month a year earlier.
- Collections at 38 days in Portugal and 55 in Spain (15 more in the Downside); the disputed J11 milestone collected in October in the Base.
- USD per EUR 1.1463 from September in the Base; Euribor 3M 2.75% (the Base driver from September).
- The December 2026 IRC payment on account is paid in full in the Base as built (switch on Assumptions); the report quantifies the limit under CIRC art. 107. An FY2026 overpayment is assumed refunded in September 2027.
- Work accident insurance at 0.90% of pay until the policy rate is received; 2027 IRS tables assumed equal to 2026.
- Opening balances at 31-Dec-25 are fictional FY2025 accounts. Taxable profit equals profit before tax; no deferred tax; the office lease is expensed as rent (IFRS 16 not applied).
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.
- Set the art. 107 switch on Assumptions to 1 to limit the December 2026 payment on account; the covenant test, the dividend and the cash forecast follow (refresh the snapshots afterwards).
- Blue on yellow cells are inputs; black are formulas; green link other sheets. Actual data is typed only on Inputs_Actuals, History, the two registers and Budget_FY26.
- The month-end procedure is on the Guide sheet: enter the month, move the last actual month on Assumptions, update the registers and the agings, refresh the snapshots and reread Checks.
Quelvora Sistemas, Lda
FICTIONAL DEMONSTRATION. Every company, person and number in these packs is invented for demonstration.
Start with a conversation
Build the finance function
your next stage needs.
Tell us where the business stands. We’ll show you how we would run the finance function, the priorities we would address and the team behind the work.
Book a free introductionExplore the engagement and pricing