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Corporate finance

What goes on this page, and the page itself, were chosen and created by Claude Code: I asked it to pick, from the twelve deliverables, what shows the work best, and let it draft it here freely.

The cockpit

Twelve deliverables, then one page for management: eight decision lines, each with a status, an owner and a date.

  1. 01amber

    Sponsor renewal and concentration

    56.9%Top five sponsors’ share, 202683.5% in 2025sales · 6 Aug 2026
  2. 02red

    Sponsor pipeline

    1.7%Pipeline conversion, 202627.7% of the value came from outside the CRMCRM owner · 4 May 2026
  3. 03amber

    Tickets by platform

    1,261Approved ticket rows on Luma, 2026receipts register: €16,894 grossticketing · 12 Sep 2026
  4. 04amber

    Booking pace

    32.0%Share sold in the last 7 days, 2026half still unsold 21 days outticketing · 24 Aug 2026
  5. 05green

    Registered to confirmed scan

    67.2%Conversion, 202667.7% in 2025operations · 6 Aug 2026
  6. 06green

    Returning guests

    19.3%Returning share, 202620.9% in 2025marketing and community · 6 Aug 2026
  7. 07red

    Planned cost against an approved cap

    €113,177Planned cost, 2026no cap approved; actual cost in FY2025: €135,578management · 12 Sep 2026
  8. 08red

    Break-even headroom

    49.7%Real coverage, last closed year67.4% on the cost planned for 2025management · 12 Sep 2026

Fig. 1. The management cockpit. The dates are left as they are: each line is only as fresh as its source.

Source: deliverable 10, report for management, revision of 12 September 2026 · Method: every value traced to the deliverable, tab and cell it comes from · Limit: internal, uncertified data. Observed values are not accounting revenue.

Three years of losses

−€135,661 in three years, absorbed by the shareholders’ reserves. Two losses in a row, with opposite causes.

value of productioncosts that depend on the editioncosts that return every yearcosts not yet split: no 2026 ledger
€185k
€188k
FY2023−€4,194
€225k
€322k
FY2024−€76,377
€67k
€136k
FY2025−€55,090
€162k
€126k
H1 2026+€36,421

Fig. 2. 2024 was a cost problem: costs +71% on revenue +22%, rent and equipment alone from €38k to €127k. 2025 cut costs by 58%, but revenue fell 70%: the edition was cut, not the structure.

Source: filed accounts FY2023 to FY2025, interim accounts at 30 June 2026, general ledger 2023 to 2025 · Method: value and costs of production as filed; recurring = accounts present and stable in all three years · Limit: company-wide, not per edition, since no line carries an event tag. The half-year is not annualised.

  • €100,428 → €440cash at year end, from 2023 to 2025
  • −€26,931cash against debts due within a year, 30 June 2026: the half-year profit is booked, not collected

Sponsors are won again every year

75 sponsors in four editions. Most came once.

  • 65 in one edition only
  • 10 in more than one, none in all four

Fig. 3. One dot per sponsor, 2023 to 2026.

Source: sponsor deal observations, pseudonymous, 92 deals · Method: distinct sponsors by number of editions · Limit: observed commercial value, not revenue; groups under five are not shown.

  • −€159,197sponsor value from 2024 to 2025: churn took €208,500, fifteen new sponsors brought €46,303
  • within 4%observed sponsor value against invoices issued, in all four editions

The books, reconciled

When the accountant’s registers arrived in September, the bridges the data package had called impossible closed.

  • under €1gap between the sales registers and revenue in the accounts, in each of four periods
  • 18×the 2023 ticketing the daily receipts showed: the rest had been invoiced to the platform, on the sponsorship account
  • 30 pointserror in the foreign revenue share read from the account instead of the VAT regime: one €40,000 invoice on the wrong account

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