2025 actual revenue
EUR 245,359.76 total, split into EUR 140,000 MSB revenue and EUR 105,359.76 other 19% revenue.
Historical authority
JA25 Handelsrecht/Steuerrecht annual accounts and the accountant project workbook supersede prior historical bridge values.
Floor correction
The prior EUR 0.5m call-gated 2026 target/assumption is not proven by the new 2025 annual accounts. Treat it as a 2026 management target or repeat-plus-expansion assumption until confirmed.
Data cutoff
All visible current pages now reference Friday 8 May 18:00 CEST.
Included data
| Source | Scope | Treatment |
|---|---|---|
| JA25 Handelsrecht annual accounts | FY2025 HGB balance sheet, P&L, account proof | Primary historical accounting baseline. |
| JA25 Steuerrecht annual accounts | FY2025 tax balance sheet/P&L | Used to explain InnoZ activation/tax difference. |
| Project booking workbook | 2025 project allocations and selected Qonto transactions | Supports InnoZ/MSB project visibility; not an external raw-file upload. |
| Internal memo | Investor EBITDA/pro forma bridge | Useful but contains a net-loss bridge question for accountant confirmation. |
| RESIHLOG proposal | 2026-2029 future funding/application frame | Proposal evidence only; not secured funding or historical revenue. |
Call questions
- What did the prior EUR 749,651 2025 model revenue represent?
- Should the EUR 500k 2026 line be called target, expected repeat plus expansion, or lowered to the source-backed repeat base?
- What exact accountant-approved bridge should be used from HGB result to EBITDA?
- Which MSB customer invoice list can be shown externally?