Executive Summary
Key Takeaways
- Net Loss: €10,966.85 for Q1 2025, driven by contractor costs and operating expenses
- Cash Position: €532.14 in bank accounts as of March 31, 2025
- Zero Outstanding Receivables: All customer invoices paid in full — excellent collection performance
- Outstanding Payables: €405.90 in accounts payable, primarily consulting fees
- Director Support: €14,543.09 in director loans and current account funding
€10,967
Net Loss Q1
€532
Cash on Hand
€0
Outstanding AR
€14,543
Director Funding
1. Profit & Loss Analysis
1.1 Revenue & Cost Overview
Q1 2025 reflects a pre-revenue stage with significant investment in product development. Cost of goods sold totaled €10,350.00, primarily representing contractor payments for engineering services.
| Category | Amount (EUR) | % of Total |
|---|---|---|
| Cost of Goods Sold | €10,350.00 | 94.4% |
| Operating Expenses | €616.85 | 5.6% |
| Total Expenses | €10,966.85 | 100% |
| Net Profit (Loss) | (€10,966.85) | — |
1.2 Detailed Operating Expense Breakdown
Expense Categories
| Expense Category | Description | Amount (EUR) | % of OpEx |
|---|---|---|---|
| Consulting & Accounting | Professional services, tax compliance | €405.90 | 65.8% |
| Research & Development | Cline Bot, Cursor IDE, development tools | €198.27 | 32.1% |
| Bank Fees | Revolut company plan fees | €10.00 | 1.6% |
| Office: Software | Software subscriptions | €2.68 | 0.4% |
| Total Operating Expenses | €616.85 | 100% | |
2. Accounts Receivable Aging Analysis
2.1 AR Summary
As of March 31, 2025, the company maintains zero outstanding accounts receivable. All invoices issued during Q1 have been paid in full, demonstrating excellent collection practices and strong customer relationships.
€0.00
Total Outstanding AR
0
Overdue Invoices
100%
Collection Rate
0 days
Avg. Collection Period
2.2 Aging Schedule
| Aging Bucket | Amount (EUR) | % of Total AR | Status |
|---|---|---|---|
| Current (0-30 days) | €0.00 | 0% | Paid |
| 31-60 Days | €0.00 | 0% | Paid |
| 61-90 Days | €0.00 | 0% | Paid |
| 90+ Days | €0.00 | 0% | Paid |
| Total Outstanding | €0.00 | 0% | Current |
2.3 Customer Payment Summary
During Q1 2025, the company received payments totaling €4,501.25 from Hibernia Real Estate (INV-TR501), representing the only customer receipt during the period.
3. Cash Flow Waterfall Analysis
3.1 Q1 2025 Cash Flow Summary
Cash Flow Waterfall
Opening Cash Balance (Jan 1)
€0.00
+ Director Loans & Contributions
+€800.00
+ Customer Payments (Hibernia RE)
+€4,501.25
+ Revenue Commission
+€40.00
- Contractor Payments (Sqillx)
-€10,350.00
- Accounting & Consulting
-€405.90
- R&D Tools & Software
-€198.27
- Bank & Service Fees
-€12.68
- Other Professional Services
-€193.09
= Closing Cash Balance (Mar 31)
€532.14
3.2 Cash Flow Metrics
Cash Inflows
Director Contributions
€800.00
Customer Payments
€4,501.25
Revenue Commission
€40.00
Total Inflows
€5,341.25
Cash Outflows
Contractor Payments
€10,350.00
Professional Services
€599.99
R&D & Software
€198.27
Bank & Admin Fees
€12.68
Total Outflows
€11,160.94
Net Cash Flow
(€5,819.69)
Opening Balance
€0.00
Closing Balance
€532.14
4. Balance Sheet Summary
4.1 Assets
As of March 31, 2025, total assets stand at €532.14, held entirely in the Revolut EUR Main bank account.
| Asset | March 31, 2025 | March 31, 2024 | Change |
|---|---|---|---|
| Revolut EUR Main | €532.14 | €0.00 | +€532.14 |
| Total Assets | €532.14 | €0.00 | +€532.14 |
4.2 Liabilities & Equity
| Liability / Equity | Amount (EUR) | % of Total |
|---|---|---|
| Accounts Payable | €405.90 | 2.7% |
| Director's Current Account | €13,993.09 | 93.6% |
| Director's Loan Account | €550.00 | 3.7% |
| Total Liabilities | €14,948.99 | 100% |
| Current Year Earnings | (€10,966.85) | — |
| Retained Earnings | (€3,450.00) | — |
| Total Equity | (€14,416.85) | — |
5. Key Observations & Strategic Recommendations
5.1 Financial Health Assessment
Strengths
- Zero Outstanding Receivables: 100% collection rate demonstrates excellent credit management
- Strong Director Support: €14,543 in director funding provides financial stability
- Controlled Operating Expenses: OpEx at €617 is well-managed relative to development investment
- Clean Capital Structure: No external debt; funding through equity/director loans
Areas of Concern
- Pre-Revenue Stage: No recurring revenue streams established in Q1
- High Burn Rate: Monthly cash burn of ~€3,655 requires revenue generation
- Limited Cash Runway: Current cash position provides limited operational buffer
- Concentrated Expenses: 94% of costs from single contractor (Sqillx)
5.2 Strategic Recommendations
| Priority | Recommendation | Timeline | Expected Impact |
|---|---|---|---|
| High | Accelerate revenue-generating activities | Q2 2025 | Reduce cash burn |
| High | Establish monthly recurring revenue streams | Q2-Q3 2025 | Sustainable growth |
| Medium | Diversify contractor base / reduce concentration | Q2 2025 | Risk mitigation |
| Medium | Formalize director loan repayment schedule | Q2 2025 | Clear obligations |
| Low | Implement monthly financial reporting | Ongoing | Better visibility |
5.3 Q2 2025 Outlook
Based on current trends, Q2 2025 should focus on:
- Revenue Generation: Target €5,000+ in monthly recurring revenue by end of Q2
- Cost Optimization: Review contractor agreements for efficiency gains
- Cash Management: Maintain minimum €1,000 cash buffer
- Customer Acquisition: Build pipeline to reduce dependency on single revenue source