{"text_format":"1","workbook":"xlsx","n_sheets":5,"sheets":["Notes","Model","Annualized PF","Kosten & Scenario's","Chart2"],"not_rendered":{"charts":3,"images":0,"macros":1,"external_links":0,"defined_names":42,"comments":1,"pivot_tables":0},"unopened":[{"sheet":"Chart2","index":4,"reason":"not_a_worksheet"}],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Notes","index":0,"n_rows":29,"n_cols":9,"rows_kept":29,"cut":false,"hidden":false,"merged":[]}
[]
[null,null,null,null,null,null,null,null,"Separate Construction Period"]
[null,"At DSCR > 1, 50% is swept by bank",null,null,null,null,null,null,"Move Transaction Costs to S&U"]
[]
[null,"If production of single customer is 60%",null,null,null,null,null,null,"Problems with inflation in first year"]
[null,null,null,null,null,null,null,null,"Huur Technische ruimte"]
[null,"Put in 1/2 of equity in preference shares at 12%",null,null,null,null,null,null,"Working Capital"]
[null,null,null,null,null,null,null,null,"Fix Depreciation"]
[null,"Look at maco"]
[]
[null,"Preference Interest Senior to sweep"]
[]
[null,"Target Up-front cash"]
[]
[]
[]
[null,"2017-08-29"]
[]
[null,"construction financing, bonds 6% p.a. as of 1 st of September 2016",null,null,null,null,null,1050,"financing "]
[]
[null,"senior debt - quaterly repayments"]
[]
[null,"capex, say 1.6 MEUR, how to finance?",null,null,null,"fix the debt, then cash sweep"]
[]
[null,"taxs"]
[]
[null,"construction started 1 Sept 2016, ends 1 November"]
[]
[null,"cash sweep bank (above 1.0 , 50% sweep)"]

{"sheet":"Model","index":1,"n_rows":773,"n_cols":28,"rows_kept":773,"cut":false,"hidden":false,"merged":[]}
[null,null,"DATA",{"$f":"D178","v":7.7270272374153168E-2},{"$f":"D10","v":"2016-08-31"},"2017-10-30",{"$f":"EOMONTH(F1,12)","v":"2018-10-31"},{"$f":"EDATE(G1,12)","v":"2019-10-31"},"2020-10-31","2021-10-31","2022-10-31","2023-10-31","2024-10-31","2025-10-31","2026-10-31","2027-10-31","2028-10-31","2029-10-31","2030-10-31","2031-10-31","2032-10-31","2033-10-31","2034-10-31","2035-10-31","2036-10-31","2037-10-31"]
[null,null,null,null,null,1,{"$f":"IF(G3<$G$7,F2,0.0000000001)","v":1},{"$f":"IF(H3<$G$7,G2,0.0000000001)","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1E-10,1E-10,1E-10,1E-10,1E-10,1E-10]
[null,null,null,null,null,0,1,{"$f":"G3+1","v":2},{"$f":"H3+1","v":3},4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20]
["Summary"]
[]
[null,null,null,"Verkoop Koude de Burg",null,null,{"$f":"'Kosten & Scenario''s'!$K$9","v":72000},null,null,null,"Equity IRR"]
[null,"Crowd Funding",null,null,null,"Project Life",15,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,7]
[null,null,"Total Cash Funding",1050000,null,null,null,null,null,null,null,null,null,null,null,null,null,"Scenarios",null,"Scenario 1","Scenario 2","Scenario 3"]
[null,null,"Annual Interest Rate",0.06,null,"Pre-tax Project IRR",null,{"$f":"Model!D178","v":7.7270272374153168E-2},null,null,null,null,null,null,null,null,null,"Koude levering De Burg",null,51840,57600,72000]
[null,null,"Funding Date","2016-08-31",null,"After-tax Project IRR",null,{"$f":"Model!D191","v":5.9429320693016041E-2},null,null,null,null,null,null,null,null,null,"MW",null,{"$f":"'Kosten & Scenario''s'!$K$11","v":5300},{"$f":"'Kosten & Scenario''s'!$K$11","v":5300},{"$f":"'Kosten & Scenario''s'!$K$11","v":5300}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Verkoopprijs WKO De Burg",null,1250000,1350000,1600000]
[null,"Sr lening",null,null,null,"Target Equity IRR",null,{"$f":"I12/1000","v":1E-3},1,"Uses of Funds",null,"Amount","Percent",null,null,null,null,"Commerciele waarde ",null,1870000,1870000,1870000]
[null,null,"Minimum DSCR Sr Lening",1.3,null,"Equity IRR",null,{"$f":"Model!D419","v":5.9350481629371649E-2},null,"Capital Expenditures",null,{"$f":"E195","v":1443553.7838309002},null,null,null,null,null,"Max sr Debt",null,1064100,1072100,1293100,null,null,null,null,{"$f":"+IF(ABS(net_position)>0.5,\"NEED TO RUN MODEL\",\"\")","v":"NEED TO RUN MODEL"}]
[null,null,"Resulting",{"$f":"D265","v":0},null,null,null,null,null,"Transaction Costs",null,{"$f":"E196","v":125000},null,null,null,null,null,"Sr Debt / Capex",null,0.60506249999999995,0.67006250000000001,0.80818749999999995,null,null,null,null,"optimalisatie van SHL eruit gehaald dus model lost niet zelf funding gap op"]
[null,null,"Rente",3.4000000000000002E-2,null,"Resulting Cap Exp",null,1443553.7838309002,null,"Beheerkosten",null,50000,null,null,null,null,null,"Max Jr Lening",null,129100,142100,177100]
[null,null,"Effective Quarterly",{"$f":"'Annualized PF'!F22","v":3.2725000000000011E-2},null,"Electricity Cost/kWh",null,{"$f":"Z7/100","v":7.0000000000000007E-2},null,"Sub-total",null,1618553.7838309002,null,null,null,null,null,"cash equity IRR",null,0.104,0.10299999999999999,0.10100000000000001]
[null,null,"Looptijd",15,null,null,null,null,null,"Interest During Construction",null,70335.510970013172,null,null,null,null,null,"Equity",null,325000,350000,400000]
[null,null,"Sr. Debt amount",1352166.6057169533,null,"Fix Debt Repayments",null,true,null,"Cash for Reserves",null,{"$f":"E232","v":54343.696982682406},null,null,null,null,null,"Start SHL",null,0,0,0]
[null,null,"Max Debt to Capital",0.65,null,null,null,null,null,"Total",null,{"$f":"SUM(L16:L18)","v":1743232.9917835959},null,null,null,null,null,"Total non-equity",null,{"$f":"sr_1+jr_1+shl_1","v":1193200},{"$f":"sr_1+jr_1+shl_1","v":1193200},{"$f":"sr_1+jr_1+shl_1","v":1193200}]
[null,null,"Cash Sweep",0.5,null,"Apply Dynamic Goal Seek",null,false]
[null,null,"Level Repayment (True) /Sculpt ",true,null,null,null,null,null,"Sources of Funds"]
[null,null,"Max DSCR Before Sweep",1,null,"NPV",null,{"$f":"Model!D422","v":344955.86531713849},null,"Senior Debt",null,{"$f":"E218","v":1093526.2241841012},{"$f":"L22/L26","v":0.6272978020369242}]
[null,null,null,null,null,null,null,null,null,"Subordinated Debt",null,{"$f":"E219","v":0},{"$f":"L23/L26","v":0}]
[null,"Jr Lening",null,null,null,"Taxes",null,null,null,"Preference ",null,{"$f":"E238","v":324853.38379974733},{"$f":"L24/$L$26","v":0.1863510989815379}]
[null,null,"Apply Junior Debt",false,null,"First Increment",null,200000,null,"Equity",null,{"$f":"E239","v":324853.38379974733},{"$f":"L25/$L$26","v":0.1863510989815379}]
[null,null,"Min DSCR After Jr",1.1000000000000001,null,"Tax Rate 1st Increment",null,0.2,null,"Total",null,{"$f":"SUM(L22:L25)","v":1743232.9917835959}]
[null,null,"Actual",{"$f":"D284","v":1.7598740557187369},null,"Tax Rate 2nd Increment",null,0.25]
[null,null,"Rente",6.5000000000000002E-2]
[null,null,"Effective Quarterly",{"$f":"'Annualized PF'!I22","v":6.2562499999999993E-2},null,"Construction Months",null,14,null,"Preference Shares"]
[null,null,"Looptijd",19,null,null,null,null,null,"Percent of Equity",null,0.5]
[null,null,"Amount",155100,null,"Tax Depreciation Life",null,20,null,"Interest Rate",null,0.12]
[null,null,"Max Total Debt to Capital",0.8,null,"Annual Rate",null,{"$f":"1/H31","v":0.05},null,"Tenor",null,20]
[null,null,"Level Repayment",true]
[null,null,null,null,null,"DSRA Percent",null,0.5]
[]
["Turnover"]
[null,"De Burg"]
[null,null,"Koude levering",{"$f":"Model!de_burg","v":72000},null,{"$f":"$D38*F$2","v":72000},72000,72000,72000,72000,72000,72000,72000,72000,72000,72000,72000,72000,72000,72000,7.2000000000000005E-6,7.2000000000000005E-6,7.2000000000000005E-6,7.2000000000000005E-6,7.2000000000000005E-6,7.2000000000000005E-6]
[null,null,"Tarief koude",2.4700000000000002,null,{"$f":"D39*(100%+$D40*F2)","v":2.50705},{"$f":"F39*(100%+$D40*G2)","v":2.5446557499999995},2.5828255862499994,2.6215679700437491,2.6608914895944049,2.7008048619383209,2.7413169348673954,2.7824366888904062,2.8241732392237622,2.8665358378121182,2.9095338753792999,2.9531768835099892,2.9974745367626388,3.042436654814078,3.0880732046362889,3.0880732046409207,3.0880732046455526,3.0880732046501844,3.0880732046548163,3.0880732046594481,3.08807320466408]
[null,null,"Indexatie tarief",1.4999999999999999E-2]
[null,null,"Omzet koude levering",null,null,{"$f":"F38*D39","v":177840},{"$f":"G38*F39","v":180507.6},{"$f":"H38*H39","v":185963.44220999995},188752.89384314994,191584.18725079714,194457.95005955911,197374.81931045247,200335.44160010925,203340.47322411087,206390.5803224725,209486.43902730959,212628.73561271923,215818.16664690999,219055.43914661361,222341.27073381279,2.2234127073414631E-5,2.223412707344798E-5,2.223412707348133E-5,2.2234127073514679E-5,2.2234127073548028E-5,2.2234127073581378E-5]
[]
[null,null,"Vermogen koude",5300,null,{"$f":"$D43*F2","v":5300},5300,5300,5300,5300,5300,5300,5300,5300,5300,5300,5300,5300,5300,5300,5.3000000000000001E-7,5.3000000000000001E-7,5.3000000000000001E-7,5.3000000000000001E-7,5.3000000000000001E-7,5.3000000000000001E-7]
[null,null,"Vastrecht koude",11.66,null,{"$f":"D44*(100%+$D45*F2)","v":11.834899999999999},{"$f":"F44*(100%+$D45*G2)","v":12.012423499999999},12.192609852499997,12.375499000287496,12.561131485291806,12.749548457571182,12.940791684434748,13.134903559701268,13.331927113096786,13.531906019793237,13.734884610090134,13.940907879241484,14.150021497430105,14.362271819891555,14.577705897189928,14.577705897211793,14.577705897233658,14.577705897255523,14.577705897277388,14.577705897299253,14.577705897321119]
[null,null,"Indexatie vastrecht",1.4999999999999999E-2]
[null,null,"Omzet vastrecht koude",null,null,{"$f":"F43*F44","v":62724.969999999994},{"$f":"G43*G44","v":63665.844549999994},{"$f":"H43*H44","v":64620.832218249983},65590.144701523721,66573.996872046569,67572.606825127266,68586.195927504159,69614.988866416723,70659.213699412969,71719.10190490415,72794.88843347771,73886.811759979872,74995.113936379552,76120.040645425237,77261.841255106614,7.7261841255222497E-6,7.7261841255338389E-6,7.726184125545428E-6,7.7261841255570154E-6,7.7261841255686045E-6,7.7261841255801936E-6]
[]
[null,null,"Totaal omzet De Burg",null,null,{"$f":"F46+F41","v":240564.97},{"$f":"G46+G41","v":244173.44455000001},{"$f":"H46+H41","v":250584.27442824992},254343.03854467365,258158.18412284373,262030.55688468638,265961.01523795666,269950.43046652596,273999.68692352384,278109.68222737662,282281.32746078732,286515.54737269913,290813.28058328957,295175.47979203885,299603.11198891944,2.9960311198936881E-5,2.9960311198981817E-5,2.9960311199026758E-5,2.9960311199071694E-5,2.9960311199116631E-5,2.9960311199161571E-5,null,"To model"]
[]
[null,"Stammis"]
[null,null,"Warmte levering",342.5,null,{"$f":"$D51*F2","v":342.5},342.5,342.5,342.5,342.5,342.5,342.5,342.5,342.5,342.5,342.5,342.5,342.5,342.5,342.5,3.4249999999999999E-8,3.4249999999999999E-8,3.4249999999999999E-8,3.4249999999999999E-8,3.4249999999999999E-8,3.4249999999999999E-8]
[null,null,"Tarief warmte",18.71,null,{"$f":"D52*(100%+$D53*F2)","v":18.990649999999999},{"$f":"F52*(100%+$D53*G2)","v":19.275509749999998},19.564642396249997,19.858112032193745,20.155983712676647,20.458323468366796,20.765198320392297,21.07667629519818,21.392826439626152,21.713718836220544,22.039424618763849,22.370015988045306,22.705566227865983,23.046149721283971,23.391841967103229,23.391841967138316,23.391841967173402,23.391841967208489,23.391841967243575,23.391841967278662,23.391841967313749]
[null,null,"Indexatie tarief",1.4999999999999999E-2]
[null,null,"Omzet warmte levering",null,null,{"$f":"F51*F52","v":6504.2976249999992},{"$f":"G51*G52","v":6601.8620893749994},{"$f":"H51*H52","v":6700.8900207156239},6801.4033710263575,6903.4244215917515,7006.9757879156277,7112.0804247343622,7218.7616311053762,7327.0430555719568,7436.9487014055358,7548.5029319266187,7661.7304759055178,7776.6564330440988,7893.30627953976,8011.7058737328562,8.0117058737448733E-7,8.0117058737568895E-7,8.0117058737689068E-7,8.011705873780924E-7,8.0117058737929413E-7,8.0117058738049586E-7]
[]
[null,null,"Vermogen warmte",1000,null,{"$f":"$D56*F2","v":1000},1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1.0000000000000001E-7,1.0000000000000001E-7,1.0000000000000001E-7,1.0000000000000001E-7,1.0000000000000001E-7,1.0000000000000001E-7]
[null,null,"Vastrecht warmte",1.5620000000000001,null,{"$f":"D57*(100%+$D58*F2)","v":1.5854299999999999},{"$f":"F57*(100%+$D58*G2)","v":1.6092114499999997},1.6333496217499994,1.6578498660762493,1.682717614067393,1.7079583782784036,1.7335777539525794,1.759581420261868,1.7859751415657958,1.8127647686892827,1.8399562402196217,1.8675555838229159,1.8955689175802595,1.9240024513439631,1.9528624881141223,1.9528624881170515,1.9528624881199808,1.95286248812291,1.9528624881258392,1.9528624881287684,1.9528624881316976]
[null,null,"Indexatie vastrecht",1.4999999999999999E-2]
[null,null,"Omzet vastrecht warmte",null,null,{"$f":"F56*F57","v":1585.4299999999998},{"$f":"G56*G57","v":1609.2114499999996},{"$f":"H56*H57","v":1633.3496217499994},1657.8498660762493,1682.717614067393,1707.9583782784036,1733.5777539525793,1759.5814202618681,1785.9751415657959,1812.7647686892826,1839.9562402196216,1867.5555838229159,1895.5689175802595,1924.002451343963,1952.8624881141222,1.9528624881170518E-7,1.952862488119981E-7,1.9528624881229101E-7,1.9528624881258392E-7,1.9528624881287687E-7,1.9528624881316978E-7]
[]
[null,null,"Koude levering",14,null,{"$f":"$D61*F2","v":14},14,14,14,14,14,14,14,14,14,14,14,14,14,14,1.4000000000000001E-9,1.4000000000000001E-9,1.4000000000000001E-9,1.4000000000000001E-9,1.4000000000000001E-9,1.4000000000000001E-9]
[null,null,"Tarief koude",18.71,null,{"$f":"D62*(100%+$D63*F2)","v":18.897100000000002},{"$f":"F62*(100%+$D63*G2)","v":19.086071},19.276931709999999,19.469701027100001,19.664398037371001,19.861042017744712,20.059652437922161,20.260248962301382,20.462851451924397,20.66747996644364,20.874154766108077,21.082896313769158,21.293725276906851,21.506662529675921,21.721729154972682,21.721729154994406,21.721729155016131,21.721729155037856,21.721729155059581,21.721729155081306,21.721729155103031]
[null,null,"Indexatie tarief",0.01]
[null,null,"Omzet koude levering",null,null,{"$f":"F61*F62","v":264.55940000000004},{"$f":"G61*G62","v":267.204994},{"$f":"H61*H62","v":269.87704394000002},272.57581437940001,275.30157252319401,278.05458824842594,280.83513413091026,283.64348547221937,286.47992032694157,289.34471953021097,292.23816672551311,295.16054839276819,298.11215387669591,301.09327541546293,304.10420816961755,3.041042081699217E-8,3.0410420817022584E-8,3.0410420817053004E-8,3.0410420817083418E-8,3.0410420817113832E-8,3.0410420817144245E-8]
[]
[null,null,"Vermogen koude",0,null,{"$f":"$D66*F2","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Vastrecht koude",0,null,{"$f":"D67*(100%+$D68*F2)","v":0},{"$f":"F67*(100%+$D68*G2)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Indexatie vastrecht",0.01]
[null,null,"Omzet vastrecht koude",null,null,{"$f":"F66*F67","v":0},{"$f":"G66*G67","v":0},{"$f":"H66*H67","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Totaal omzet Stammis",null,null,{"$f":"F69+F64+F59+F54","v":8354.2870249999996},{"$f":"G69+G64+G59+G54","v":8478.2785333749998},{"$f":"H69+H64+H59+H54","v":8604.1166864056231},8731.8290514820073,8861.4436081823387,8992.9887544424564,9126.4933128178527,9261.986536839464,9399.4981174646946,9539.0581896250296,9680.6973388717524,9824.4466081212013,9970.3375045010544,10118.402006299186,10268.672570016595,1.0268672570031846E-6,1.0268672570047097E-6,1.0268672570062346E-6,1.0268672570077597E-6,1.0268672570092847E-6,1.0268672570108098E-6,null,"To model"]
[]
[null,null,"Total Revenues",null,null,{"$f":"F71+F48","v":248919.257025},252651.72308337502,259188.39111465553,263074.86759615567,267019.62773102609,271023.54563912883,275087.50855077454,279212.41700336541,283399.18504098855,287648.74041700165,291962.02479965909,296339.99398082035,300783.61808779062,305293.88179833803,309871.78455893602,3.0987178455940068E-5,3.0987178455986526E-5,3.0987178456032991E-5,3.0987178456079456E-5,3.0987178456125914E-5,3.0987178456172379E-5]
[]
["OPERATING COST"]
[null,"De Burg"]
[null,null,"Electriciteitsverbruik",{"$f":"D38*4.90041666666667","v":352830.00000000023},null,{"$f":"$D77*F2","v":352830.00000000023},352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,352830.00000000023,3.5283000000000028E-5,3.5283000000000028E-5,3.5283000000000028E-5,3.5283000000000028E-5,3.5283000000000028E-5,3.5283000000000028E-5]
[null,null,"Inkoopprijs elektriciteit",{"$f":"Model!H16","v":7.0000000000000007E-2},null,{"$f":"D78*(100%+$D79*F2)","v":7.0700000000000013E-2},{"$f":"F78*(100%+$D79*G2)","v":7.1407000000000012E-2},7.2121070000000009E-2,7.2842280700000012E-2,7.3570703507000013E-2,7.4306410542070017E-2,7.5049474647490719E-2,7.5799969393965633E-2,7.6557969087905284E-2,7.7323548778784335E-2,7.8096784266572183E-2,7.8877752109237906E-2,7.9666529630330288E-2,8.0463194926633591E-2,8.1267826875899923E-2,8.1267826875981192E-2,8.126782687606246E-2,8.1267826876143728E-2,8.1267826876224997E-2,8.1267826876306265E-2,8.1267826876387533E-2]
[null,null,"Indexatie inkoopprijs",0.01]
[null,null,"Totaal inkoopkosten",null,null,{"$f":"F77*F78","v":24945.08100000002},{"$f":"G77*G78","v":25194.531810000022},{"$f":"H77*H78","v":25446.477128100021},25700.941899381021,25957.951318374831,26217.530831558583,26479.706139874168,26744.503201272913,27011.948233285639,27282.067715618494,27554.888392774683,27830.437276702429,28108.741649469455,28389.82906596415,28673.727356623789,2.8673727356652467E-6,2.8673727356681139E-6,2.8673727356709815E-6,2.8673727356738488E-6,2.8673727356767164E-6,2.8673727356795836E-6]
[]
[null,"Stammis"]
[null,null,"Electriciteitsverbruik",19028,null,{"$f":"$D83*F2","v":19028},19028,19028,19028,19028,19028,19028,19028,19028,19028,19028,19028,19028,19028,19028,1.9028E-6,1.9028E-6,1.9028E-6,1.9028E-6,1.9028E-6,1.9028E-6]
[null,null,"Inkoopprijs elektriciteit",{"$f":"Model!D78","v":7.0000000000000007E-2},null,{"$f":"D84*(100%+$D85*F2)","v":7.0700000000000013E-2},{"$f":"F84*(100%+$D85*G2)","v":7.1407000000000012E-2},7.2121070000000009E-2,7.2842280700000012E-2,7.3570703507000013E-2,7.4306410542070017E-2,7.5049474647490719E-2,7.5799969393965633E-2,7.6557969087905284E-2,7.7323548778784335E-2,7.8096784266572183E-2,7.8877752109237906E-2,7.9666529630330288E-2,8.0463194926633591E-2,8.1267826875899923E-2,8.1267826875981192E-2,8.126782687606246E-2,8.1267826876143728E-2,8.1267826876224997E-2,8.1267826876306265E-2,8.1267826876387533E-2]
[null,null,"Indexatie inkoopprijs",0.01]
[null,null,"Totaal inkoopkosten",null,null,{"$f":"F83*F84","v":1345.2796000000003},{"$f":"G83*G84","v":1358.7323960000003},{"$f":"H83*H84","v":1372.3197199600002},1386.0429171596002,1399.9033463311962,1413.9023797945083,1428.0414035924534,1442.3218176283781,1456.7450358046617,1471.3124861627084,1486.0256110243356,1500.8858671345788,1515.8947258059247,1531.053673063984,1546.3642097946238,1.54636420979617E-7,1.5463642097977166E-7,1.546364209799263E-7,1.5463642098008094E-7,1.5463642098023557E-7,1.5463642098039021E-7]
[]
[null,null,"Total",null,null,{"$f":"F86+F80","v":26290.360600000022},{"$f":"G86+G80","v":26553.264206000022},{"$f":"H86+H80","v":26818.796848060021},27086.984816540622,27357.854664706028,27631.433211353091,27907.747543466623,28186.825018901291,28468.693269090301,28753.380201781201,29040.914003799018,29331.323143837006,29624.636375275379,29920.882739028133,30220.091566418414,3.0220091566448638E-6,3.0220091566478856E-6,3.0220091566509078E-6,3.0220091566539296E-6,3.0220091566569518E-6,3.022009156659974E-6]
[]
["OPEX",null,null,null,null,0,1,{"$f":"G90+1","v":2},{"$f":"H90+1","v":3},4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21]
[null,"De Burg + Stammis"]
[null,"Onderhoud"]
[null,null,"Asset kostprijs",{"$f":"Model!D140","v":1443553.7838309002},null,{"$f":"Model!D93","v":1443553.7838309002},{"$f":"Model!F93","v":1443553.7838309002},{"$f":"Model!G93","v":1443553.7838309002},{"$f":"Model!H93","v":1443553.7838309002},{"$f":"Model!I93","v":1443553.7838309002},{"$f":"Model!J93","v":1443553.7838309002}]
[null,null,"% onderhoudskosten",null,null,5.0000000000000001E-3,7.4999999999999997E-3,0.01,1.4999999999999999E-2,0.02,2.5000000000000001E-2]
[null,null,"Indexatie",null,null,null,null,null,null,null,null,1.4999999999999999E-2,{"$f":"Model!L95","v":1.4999999999999999E-2},{"$f":"Model!M95","v":1.4999999999999999E-2},{"$f":"Model!N95","v":1.4999999999999999E-2},{"$f":"Model!O95","v":1.4999999999999999E-2},{"$f":"Model!P95","v":1.4999999999999999E-2},{"$f":"Model!Q95","v":1.4999999999999999E-2},{"$f":"Model!R95","v":1.4999999999999999E-2},{"$f":"Model!S95","v":1.4999999999999999E-2},{"$f":"Model!T95","v":1.4999999999999999E-2},{"$f":"Model!U95","v":1.4999999999999999E-2},{"$f":"Model!V95","v":1.4999999999999999E-2},{"$f":"Model!W95","v":1.4999999999999999E-2},{"$f":"Model!X95","v":1.4999999999999999E-2},{"$f":"Model!Y95","v":1.4999999999999999E-2}]
[null,null,"Onderhoudskosten",null,null,{"$f":"F94*F93","v":7217.7689191545014},10826.653378731751,14435.537838309003,21653.306757463502,28871.075676618006,36088.844595772505,{"$f":"K96*(100%+$L95)*L2","v":36630.177264709091},{"$f":"L96*(100%+$L95)*M2","v":37179.62992367972},37737.324372534909,38303.384238122926,38877.935001694765,39461.104026720182,40053.020587120984,40653.815895927793,41263.62313436671,4.1882577481382212E-6,4.2510816143602943E-16,4.3148478385756988E-26,4.3795705561543335E-36,4.4452641144966483E-46,4.5119430762140974E-56,null,"To model"]
[]
[null,"Monitoring & Verification"]
[null,null,"Project kostprijs",{"$f":"Model!D140","v":1443553.7838309002}]
[null,null,"% monitoringkosten",4.0000000000000001E-3]
[null,null,"Indexatie",1.4999999999999999E-2]
[null,null,"Monitoring kosten",null,null,{"$f":"$D$99*$D$100*(100%+$D$101)*F2","v":5860.8283623534544},{"$f":"$D$99*$D$100*G2*(100%+$D$101)^H90","v":5948.7407877887554},6037.9718996055863,6128.5414780996689,6220.4696002711635,6313.77664427523,6408.4832939393573,6504.6105433484472,6602.1797014986723,6701.2123970211524,6801.7305829764682,6903.7565417211144,7007.3128898469304,7112.4225831946324,7219.1089219425512,7.3273955557716889E-7,7.4373064891082636E-7,7.5488660864448872E-7,7.6620990777415594E-7,7.7770305639076801E-7,7.893686022366295E-7]
[null,null,null,null,null,null,"`"]
[null,"Verzekering"]
[null,null,"Omzet levering koude",null,null,{"$f":"Model!F41","v":177840},{"$f":"Model!G41","v":180507.6},{"$f":"Model!H41","v":185963.44220999995},{"$f":"Model!I41","v":188752.89384314994},{"$f":"Model!J41","v":191584.18725079714},{"$f":"Model!K41","v":194457.95005955911},{"$f":"Model!L41","v":197374.81931045247},{"$f":"Model!M41","v":200335.44160010925},{"$f":"Model!N41","v":203340.47322411087},{"$f":"Model!O41","v":206390.5803224725},{"$f":"Model!P41","v":209486.43902730959},{"$f":"Model!Q41","v":212628.73561271923},{"$f":"Model!R41","v":215818.16664690999},{"$f":"Model!S41","v":219055.43914661361},{"$f":"Model!T41","v":222341.27073381279},{"$f":"Model!U41","v":2.2234127073414631E-5},{"$f":"Model!V41","v":2.223412707344798E-5},{"$f":"Model!W41","v":2.223412707348133E-5},{"$f":"Model!X41","v":2.2234127073514679E-5},{"$f":"Model!Y41","v":2.2234127073548028E-5},{"$f":"Model!Z41","v":2.2234127073581378E-5}]
[null,null,"Omzet vastrechte koude",null,null,{"$f":"Model!F46","v":62724.969999999994},{"$f":"Model!G46","v":63665.844549999994},{"$f":"Model!H46","v":64620.832218249983},{"$f":"Model!I46","v":65590.144701523721},{"$f":"Model!J46","v":66573.996872046569},{"$f":"Model!K46","v":67572.606825127266},{"$f":"Model!L46","v":68586.195927504159},{"$f":"Model!M46","v":69614.988866416723},{"$f":"Model!N46","v":70659.213699412969},{"$f":"Model!O46","v":71719.10190490415},{"$f":"Model!P46","v":72794.88843347771},{"$f":"Model!Q46","v":73886.811759979872},{"$f":"Model!R46","v":74995.113936379552},{"$f":"Model!S46","v":76120.040645425237},{"$f":"Model!T46","v":77261.841255106614},{"$f":"Model!U46","v":7.7261841255222497E-6},{"$f":"Model!V46","v":7.7261841255338389E-6},{"$f":"Model!W46","v":7.726184125545428E-6},{"$f":"Model!X46","v":7.7261841255570154E-6},{"$f":"Model!Y46","v":7.7261841255686045E-6},{"$f":"Model!Z46","v":7.7261841255801936E-6}]
[null,null,"Totaal",null,null,{"$f":"F105+F106","v":240564.97},{"$f":"G105+G106","v":244173.44455000001},{"$f":"H105+H106","v":250584.27442824992},254343.03854467365,258158.18412284373,262030.55688468638,265961.01523795666,269950.43046652596,273999.68692352384,278109.68222737662,282281.32746078732,286515.54737269913,290813.28058328957,295175.47979203885,299603.11198891944,2.9960311198936881E-5,2.9960311198981817E-5,2.9960311199026758E-5,2.9960311199071694E-5,2.9960311199116631E-5,2.9960311199161571E-5]
[null,null,"% verzekeringskosten",1.4999999999999999E-2,null,{"$f":"F107*$D$108","v":3608.4745499999999},3662.6016682499999,3758.7641164237484,3815.1455781701047,3872.3727618426556,3930.4583532702954,3989.4152285693499,4049.256456997889,4109.9953038528574,4171.6452334106489,4234.2199119118095,4297.733210590487,4362.1992087493436,4427.6321968805823,4494.0466798337911,4.4940466798405321E-7,4.4940466798472723E-7,4.4940466798540137E-7,4.4940466798607539E-7,4.4940466798674947E-7,4.4940466798742355E-7,null,"To model"]
[]
[null,"Beheerkosten"]
[null,null,"Totaal investering",{"$f":"D140+D146+D153","v":1443553.7838309002}]
[null,null,"% Beheerkosten",0.01]
[null,null,"Indexatie",1.4999999999999999E-2]
[null,null,"Beheerkosten",null,50000,0,{"$f":"$D$111*$D$112*(1+$D$113)^(G$90)*G2","v":14652.070905883636},14871.851969471889,15094.929749013965,15321.353695249172,15551.174000677907,15784.441610688073,16021.208234848393,16261.526358371117,16505.449253746679,16753.030992552878,17004.32645744117,17259.391354302785,17518.282224617324,17781.056457986582,1.8047772304856379E-6,1.831848888942922E-6,1.8593266222770657E-6,1.8872165216112215E-6,1.9155247694353898E-6,1.9442576409769198E-6,null,"To model"]
[]
[null,null,"Huur Technische ruimte",5000,null,{"$f":"$D$116*F2","v":5000},5000,5000,5000,5000,5000,5000,5000,5000,5000,5000,5000,5000,5000,5000,4.9999999999999998E-7,4.9999999999999998E-7,4.9999999999999998E-7,4.9999999999999998E-7,4.9999999999999998E-7,4.9999999999999998E-7]
[]
[null,null,"Total Operating Expenses",null,null,{"$f":"F114+F108+F102+F96+F116","v":21687.071831507958},{"$f":"G114+G108+G102+G96+G116","v":40090.066740654147},44104.125823810224,51691.923562747237,59285.271733980997,66884.253593995934,67812.517397905875,68754.705158874451,69711.02573625755,70681.691122301418,71666.916489135911,72666.920236472957,73681.924040020036,74712.152900620335,75757.835194129642,7.6751792021850822E-6,3.5249842062635837E-6,3.5636178989069554E-6,3.6028310973714528E-6,3.6426324938129069E-6,3.6830309112009727E-6]
[]
[null,null,"EBITDA",null,null,{"$f":"F73-F118-F88","v":200941.82459349203},186008.39213672085,188265.46844278529,184295.95921686781,180376.50133233907,176507.85883377981,179367.24360940204,182270.88682558967,185219.46603564071,188213.66909291904,191254.19430672415,194341.75060051036,197477.0576724952,200660.84615868956,203893.85779838797,2.0289990097110122E-5,2.4440185093075059E-5,2.4401551400475127E-5,2.4362338202054075E-5,2.4322536805656057E-5,2.4282138388311433E-5]
[null,null,"Check",null,null,{"$f":"F120-F246","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["WORKING CAPITAL CHANGES"]
[null,"Days Sales Outstanding",null,0,null,{"$f":"$D$124","v":0},{"$f":"$D$124","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Percent of Revenues",null,null,null,{"$f":"F124/(360*F2)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Revenues",null,null,null,{"$f":"Model!F88","v":26290.360600000022},{"$f":"Model!G88","v":26553.264206000022},{"$f":"Model!H88","v":26818.796848060021},{"$f":"Model!I88","v":27086.984816540622},{"$f":"Model!J88","v":27357.854664706028},{"$f":"Model!K88","v":27631.433211353091},{"$f":"Model!L88","v":27907.747543466623},{"$f":"Model!M88","v":28186.825018901291},{"$f":"Model!N88","v":28468.693269090301},{"$f":"Model!O88","v":28753.380201781201},{"$f":"Model!P88","v":29040.914003799018},{"$f":"Model!Q88","v":29331.323143837006},{"$f":"Model!R88","v":29624.636375275379},{"$f":"Model!S88","v":29920.882739028133},{"$f":"Model!T88","v":30220.091566418414},{"$f":"Model!U88","v":3.0220091566448638E-6},{"$f":"Model!V88","v":3.0220091566478856E-6},{"$f":"Model!W88","v":3.0220091566509078E-6},{"$f":"Model!X88","v":3.0220091566539296E-6},{"$f":"Model!Y88","v":3.0220091566569518E-6},{"$f":"Model!Z88","v":3.022009156659974E-6}]
[null,"Debiteuren",null,null,null,{"$f":"F126*F125","v":0},{"$f":"G126*G125","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"∆ Debiteuren",null,null,null,{"$f":"F127-E127","v":0},{"$f":"G127-F127","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Days Payables Outstanding",null,0,null,{"$f":"$D$130","v":0},{"$f":"$D$130","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Percent of Operating Cost",null,null,null,{"$f":"F130/(360*F2)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Operating Expenses",null,null,null,{"$f":"Model!F118","v":21687.071831507958},{"$f":"Model!G118","v":40090.066740654147},{"$f":"Model!H118","v":44104.125823810224},{"$f":"Model!I118","v":51691.923562747237},{"$f":"Model!J118","v":59285.271733980997},{"$f":"Model!K118","v":66884.253593995934},{"$f":"Model!L118","v":67812.517397905875},{"$f":"Model!M118","v":68754.705158874451},{"$f":"Model!N118","v":69711.02573625755},{"$f":"Model!O118","v":70681.691122301418},{"$f":"Model!P118","v":71666.916489135911},{"$f":"Model!Q118","v":72666.920236472957},{"$f":"Model!R118","v":73681.924040020036},{"$f":"Model!S118","v":74712.152900620335},{"$f":"Model!T118","v":75757.835194129642},{"$f":"Model!U118","v":7.6751792021850822E-6},{"$f":"Model!V118","v":3.5249842062635837E-6},{"$f":"Model!W118","v":3.5636178989069554E-6},{"$f":"Model!X118","v":3.6028310973714528E-6},{"$f":"Model!Y118","v":3.6426324938129069E-6},{"$f":"Model!Z118","v":3.6830309112009727E-6}]
[null,"Crediteuren",null,null,null,{"$f":"F131*F132","v":0},{"$f":"G131*G132","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"∆ Crediteuren",null,null,null,{"$f":"F133-E133","v":0},{"$f":"G133-F133","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"∆ Working Capital",null,null,null,{"$f":"F128-F134","v":0},{"$f":"G128-G134","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["CAPEX",null,null,null,null,0,1,{"$f":"G138+1","v":2},{"$f":"H138+1","v":3},4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20]
[null,"Capex 1"]
[null,null,"Amount",{"$f":"Model!H15","v":1443553.7838309002}]
[null,null,"Year",0]
[null,null,"Capex life",{"$f":"H31","v":20}]
[null,null,"Capex",null,{"$f":"-$D$140*(F$138=$D$141)","v":-1443553.7838309002},null,{"$f":"-$D$140*(G$138=$D$141)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Depreciation",null,{"$f":"($D$140/$D$142)*(AND(F$138>$D$141,F138<=($D$141+$D$142)))","v":0},null,{"$f":"($D$140/$D$142)*(AND(G$138>$D$141,G138<=($D$141+$D$142)))","v":72177.689191545011},72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011,72177.689191545011]
[]
[null,"Capex 2"]
[null,null,"Year",0]
[null,null,"Capex life",20]
[null,null,"Capex",null,{"$f":"-$D$146*(F$138=$D$147)","v":0},null,{"$f":"-$D$146*(G$138=$D$147)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Depreciation",null,{"$f":"($D$146/$D$148)*(AND(F$138>$D$147,F$138<=($D$147+$D$148)))","v":0},null,{"$f":"($D$146/$D$148)*(AND(G$138>$D$147,G$138<=($D$147+$D$148)))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Capex 3"]
[null,null,"Amount",0]
[null,null,"Year",0]
[null,null,"Capex life",15]
[null,null,"Capex",null,{"$f":"-$D$153*(F$138=$D$154)","v":0},null,{"$f":"-$D$153*(G$138=$D$154)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Depreciation",null,{"$f":"($D$153/$D$155)*(AND(F$138>$D$154,F$138<=($D$154+$D$155)))","v":0},null,{"$f":"($D$153/$D$155)*(AND(G$138>$D$154,G$138<=($D$154+$D$155)))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Total Capex",null,{"$f":"(E143+E149+E156)*-1","v":1443553.7838309002},null,{"$f":"G143+G149+G156","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,"To model"]
[null,null,"Transaction Costs",null,{"$f":"E196","v":125000}]
[null,null,"Beheerkosten",null,{"$f":"E197","v":50000}]
[null,null,"Interest During Construction",null,{"$f":"E199","v":70335.510970013172}]
[null,null,"Total Depreciation Base",null,{"$f":"SUM(E159:E162)","v":1688889.2948009134}]
[]
[null,null,"Total depreciation Rate",{"$f":"D142","v":20},null,{"$f":"1/$D$165*F2","v":0.05},0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,5.0000000000000005E-12,5.0000000000000005E-12,5.0000000000000005E-12,5.0000000000000005E-12,5.0000000000000005E-12,5.0000000000000005E-12]
[null,null,"Total depreciation",{"$f":"E163","v":1688889.2948009134},{"$f":"E144+E150+E157","v":0},{"$f":"MIN(F165*$D$166,E170)","v":84444.464740045674},{"$f":"MIN(G165*$D$166,F170)","v":84444.464740045674},84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,8.4444464740045679E-6,8.4444464740045679E-6,8.4444464740045679E-6,8.4444464740045679E-6,8.4444464740045679E-6,8.4444464740045679E-6]
[]
[null,null,"Gross Plant",null,{"$f":"E163","v":1688889.2948009134},{"$f":"E168","v":1688889.2948009134},{"$f":"F168","v":1688889.2948009134},1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134,1688889.2948009134]
[null,null,"Accumulated Depreciation",null,null,{"$f":"E169+F166","v":84444.464740045674},{"$f":"F169+G166","v":168888.92948009135},253333.39422013704,337777.8589601827,422222.32370022836,506666.78844027402,591111.25318031968,675555.71792036539,760000.18266041111,844444.64740045683,928889.11214050255,1013333.5768805483,1097778.041620594,1182222.5063606396,1266666.9711006852,1266666.9711091297,1266666.9711175743,1266666.9711260188,1266666.9711344633,1266666.9711429079,1266666.9711513524]
[null,null,"Net Plant",null,null,{"$f":"F168-F169","v":1604444.8300608678},{"$f":"G168-G169","v":1520000.365320822},1435555.9005807764,1351111.4358407308,1266666.9711006852,1182222.5063606394,1097778.0416205938,1013333.576880548,928889.11214050232,844444.6474004566,760000.18266041088,675555.71792036516,591111.25318031944,506666.78844027384,422222.32370022824,422222.32369178371,422222.32368333917,422222.32367489464,422222.3236664501,422222.32365800557,422222.32364956103]
[]
["Project Cash Flow and IRR"]
[null,"EBITDA",null,null,{"$f":"Model!E120","v":0},{"$f":"Model!F120","v":200941.82459349203},{"$f":"Model!G120","v":186008.39213672085},{"$f":"Model!H120","v":188265.46844278529},{"$f":"Model!I120","v":184295.95921686781},{"$f":"Model!J120","v":180376.50133233907},{"$f":"Model!K120","v":176507.85883377981},{"$f":"Model!L120","v":179367.24360940204},{"$f":"Model!M120","v":182270.88682558967},{"$f":"Model!N120","v":185219.46603564071},{"$f":"Model!O120","v":188213.66909291904},{"$f":"Model!P120","v":191254.19430672415},{"$f":"Model!Q120","v":194341.75060051036},{"$f":"Model!R120","v":197477.0576724952},{"$f":"Model!S120","v":200660.84615868956},{"$f":"Model!T120","v":203893.85779838797},{"$f":"Model!U120","v":2.0289990097110122E-5},{"$f":"Model!V120","v":2.4440185093075059E-5},{"$f":"Model!W120","v":2.4401551400475127E-5},{"$f":"Model!X120","v":2.4362338202054075E-5},{"$f":"Model!Y120","v":2.4322536805656057E-5},{"$f":"Model!Z120","v":2.4282138388311433E-5}]
[null,"Less: Cap Exp",null,null,{"$f":"-SUM(E159:E161)","v":-1618553.7838309002},{"$f":"Model!F159","v":0},{"$f":"Model!G159","v":0},{"$f":"Model!H159","v":0},{"$f":"Model!I159","v":0},{"$f":"Model!J159","v":0},{"$f":"Model!K159","v":0},{"$f":"Model!L159","v":0},{"$f":"Model!M159","v":0},{"$f":"Model!N159","v":0},{"$f":"Model!O159","v":0},{"$f":"Model!P159","v":0},{"$f":"Model!Q159","v":0},{"$f":"Model!R159","v":0},{"$f":"Model!S159","v":0},{"$f":"Model!T159","v":0},{"$f":"Model!U159","v":0},{"$f":"Model!V159","v":0},{"$f":"Model!W159","v":0},{"$f":"Model!X159","v":0},{"$f":"Model!Y159","v":0},{"$f":"Model!Z159","v":0}]
[null,"Less: WC Movements",null,null,{"$f":"Model!E136","v":0},{"$f":"Model!F136","v":0},{"$f":"Model!G136","v":0},{"$f":"Model!H136","v":0},{"$f":"Model!I136","v":0},{"$f":"Model!J136","v":0},{"$f":"Model!K136","v":0},{"$f":"Model!L136","v":0},{"$f":"Model!M136","v":0},{"$f":"Model!N136","v":0},{"$f":"Model!O136","v":0},{"$f":"Model!P136","v":0},{"$f":"Model!Q136","v":0},{"$f":"Model!R136","v":0},{"$f":"Model!S136","v":0},{"$f":"Model!T136","v":0},{"$f":"Model!U136","v":0},{"$f":"Model!V136","v":0},{"$f":"Model!W136","v":0},{"$f":"Model!X136","v":0},{"$f":"Model!Y136","v":0},{"$f":"Model!Z136","v":0}]
[null,null,"Pre-tax Free Cash Flow",null,{"$f":"E173+E174+E175","v":-1618553.7838309002},{"$f":"F173+F174+F175","v":200941.82459349203},186008.39213672085,188265.46844278529,184295.95921686781,180376.50133233907,176507.85883377981,179367.24360940204,182270.88682558967,185219.46603564071,188213.66909291904,191254.19430672415,194341.75060051036,197477.0576724952,200660.84615868956,203893.85779838797,2.0289990097110122E-5,2.4440185093075059E-5,2.4401551400475127E-5,2.4362338202054075E-5,2.4322536805656057E-5,2.4282138388311433E-5]
[]
[null,"Pre-tax Project IRR",null,{"$f":"XIRR(E176:Z176,E1:Z1)","v":7.7270272374153168E-2}]
[]
[null,"EBITDA",null,null,{"$f":"Model!E173","v":0},{"$f":"Model!F173","v":200941.82459349203},{"$f":"Model!G173","v":186008.39213672085},{"$f":"Model!H173","v":188265.46844278529},{"$f":"Model!I173","v":184295.95921686781},{"$f":"Model!J173","v":180376.50133233907},{"$f":"Model!K173","v":176507.85883377981},{"$f":"Model!L173","v":179367.24360940204},{"$f":"Model!M173","v":182270.88682558967},{"$f":"Model!N173","v":185219.46603564071},{"$f":"Model!O173","v":188213.66909291904},{"$f":"Model!P173","v":191254.19430672415},{"$f":"Model!Q173","v":194341.75060051036},{"$f":"Model!R173","v":197477.0576724952},{"$f":"Model!S173","v":200660.84615868956},{"$f":"Model!T173","v":203893.85779838797},{"$f":"Model!U173","v":2.0289990097110122E-5},{"$f":"Model!V173","v":2.4440185093075059E-5},{"$f":"Model!W173","v":2.4401551400475127E-5},{"$f":"Model!X173","v":2.4362338202054075E-5},{"$f":"Model!Y173","v":2.4322536805656057E-5},{"$f":"Model!Z173","v":2.4282138388311433E-5}]
[null,"Less: Depreciation",null,null,null,{"$f":"Model!F166","v":84444.464740045674},{"$f":"Model!G166","v":84444.464740045674},{"$f":"Model!H166","v":84444.464740045674},{"$f":"Model!I166","v":84444.464740045674},{"$f":"Model!J166","v":84444.464740045674},{"$f":"Model!K166","v":84444.464740045674},{"$f":"Model!L166","v":84444.464740045674},{"$f":"Model!M166","v":84444.464740045674},{"$f":"Model!N166","v":84444.464740045674},{"$f":"Model!O166","v":84444.464740045674},{"$f":"Model!P166","v":84444.464740045674},{"$f":"Model!Q166","v":84444.464740045674},{"$f":"Model!R166","v":84444.464740045674},{"$f":"Model!S166","v":84444.464740045674},{"$f":"Model!T166","v":84444.464740045674},{"$f":"Model!U166","v":8.4444464740045679E-6},{"$f":"Model!V166","v":8.4444464740045679E-6},{"$f":"Model!W166","v":8.4444464740045679E-6},{"$f":"Model!X166","v":8.4444464740045679E-6},{"$f":"Model!Y166","v":8.4444464740045679E-6},{"$f":"Model!Z166","v":8.4444464740045679E-6}]
[null,"EBIT ",null,null,null,{"$f":"F180-F181","v":116497.35985344635},{"$f":"G180-G181","v":101563.92739667518},103821.00370273962,99851.494476822132,95932.0365922934,92063.394093734139,94922.778869356363,97826.422085543993,100775.00129559504,103769.20435287336,106809.72956667848,109897.28586046469,113032.59293244952,116216.38141864388,119449.39305834229,1.1845543623105554E-5,1.5995738619070493E-5,1.5957104926470558E-5,1.5917891728049505E-5,1.5878090331651487E-5,1.5837691914306867E-5]
[null,"Taxes"]
[null,null,"First Increment",{"$f":"H25","v":200000},null,{"$f":"MIN($D$184,F182)","v":116497.35985344635},{"$f":"MIN($D$184,G182)","v":101563.92739667518},103821.00370273962,99851.494476822132,95932.0365922934,92063.394093734139,94922.778869356363,97826.422085543993,100775.00129559504,103769.20435287336,106809.72956667848,109897.28586046469,113032.59293244952,116216.38141864388,119449.39305834229,1.1845543623105554E-5,1.5995738619070493E-5,1.5957104926470558E-5,1.5917891728049505E-5,1.5878090331651487E-5,1.5837691914306867E-5]
[null,null,"Taxes on First Increment",{"$f":"H26","v":0.2},null,{"$f":"MAX($D$185*F184,0)","v":23299.471970689272},{"$f":"MAX($D$185*G184,0)","v":20312.785479335038},20764.200740547923,19970.298895364427,19186.407318458681,18412.67881874683,18984.555773871274,19565.2844171088,20155.00025911901,20753.840870574673,21361.945913335698,21979.457172092938,22606.518586489907,23243.276283728777,23889.878611668461,2.3691087246211108E-6,3.1991477238140986E-6,3.1914209852941117E-6,3.183578345609901E-6,3.1756180663302978E-6,3.1675383828613735E-6]
[null,null,"Second Increment",null,null,{"$f":"F182-F184","v":0},{"$f":"G182-G184","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Taxes on Second Increment",{"$f":"H27","v":0.25},null,{"$f":"MAX(F186*$D$187,0)","v":0},{"$f":"MAX(G186*$D$187,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total Taxes",null,null,{"$f":"F185+F187","v":23299.471970689272},{"$f":"G185+G187","v":20312.785479335038},20764.200740547923,19970.298895364427,19186.407318458681,18412.67881874683,18984.555773871274,19565.2844171088,20155.00025911901,20753.840870574673,21361.945913335698,21979.457172092938,22606.518586489907,23243.276283728777,23889.878611668461,2.3691087246211108E-6,3.1991477238140986E-6,3.1914209852941117E-6,3.183578345609901E-6,3.1756180663302978E-6,3.1675383828613735E-6]
[]
[null,"After-Tax Project Cash Flow",null,null,{"$f":"E176-E183","v":-1618553.7838309002},{"$f":"F176-F188","v":177642.35262280275},{"$f":"G176-G188","v":165695.60665738583},167501.26770223735,164325.66032150338,161190.09401388039,158095.18001503299,160382.68783553076,162705.60240848086,165064.46577652171,167459.82822234437,169892.24839338847,172362.29342841741,174870.5390860053,177417.56987496078,180003.97918671952,1.7920881372489011E-5,2.1241037369260961E-5,2.1210130415181016E-5,2.1178759856444174E-5,2.1146918739325757E-5,2.111460000545006E-5]
[null,"After-Tax Project IRR",null,{"$f":"XIRR(E190:Z190,E1:Z1)","v":5.9429320693016041E-2}]
[]
["Uses and Sources of Funds"]
[null,"Uses of Funds - Before Re-financing of Crowd Funding"]
[null,null,"Capital Expenditures",null,{"$f":"Model!H15","v":1443553.7838309002}]
[null,null,"Transaction Costs",null,125000]
[null,null,"Beheerkosten",null,{"$f":"Model!E114","v":50000}]
[null,null,"Sub-total",null,{"$f":"SUM(E195:E197)","v":1618553.7838309002}]
[null,null,"Interest During Construction",null,{"$f":"'Annualized PF'!E43","v":70335.510970013172}]
[null,null,"Cash for Reserves"]
[null,null,"Total",null,{"$f":"E198+E199+E200","v":1688889.2948009134}]
[]
[null,"Sources of Funds"]
[null,null,"Crowd Funding - Cash Funding",null,{"$f":"D8","v":1050000}]
[null,null,"Crowd Funding - Capitalised Interest",null,{"$f":"'Annualized PF'!E43","v":70335.510970013172}]
[null,null,"Equity Funding",null,{"$f":"E201-E204-E205","v":568553.78383090021}]
[null,null,"Total Sources before Re-financing",null,{"$f":"SUM(E204:E206)","v":1688889.2948009134}]
[]
["Re-financing at of Crowd Funding at COD"]
[null,"Uses of Funds"]
[null,null,"Repayment of Crowd Funding",null,{"$f":"E204+E205","v":1120335.5109700132}]
[null,null,"Funding of DSCR",null,{"$f":"E343","v":54343.696982682406}]
[null,null,"Subtotal",null,{"$f":"E211+E212","v":1174679.2079526957}]
[null,null,"Repayment of Equity",null,{"$f":"MAX(E221-E213,0)","v":0}]
[null,null,"Total Uses of Funds",null,{"$f":"E213+E214","v":1174679.2079526957}]
[]
[null,"Sources of Funds"]
[null,null,"Senior Debt - Sized from DSCR",null,{"$f":"E299","v":1093526.2241841012}]
[null,null,"Subordinated Debt - Sized from DSCR",null,{"$f":"Model!D463","v":0}]
[null,null,"Preference "]
[null,null,"Subtotal",null,{"$f":"E218+E219+E220","v":1093526.2241841012}]
[null,null,"Added Equity",null,{"$f":"MAX(E213-E221,0)","v":81152.983768594451}]
[null,null,"Total",null,{"$f":"E221+E222","v":1174679.2079526957}]
[]
["Total Final Sources and Uses of Funds"]
[null,"Uses of Funds"]
[null,null,"Capital Expenditures",null,{"$f":"E195","v":1443553.7838309002}]
[null,null,"Transaction Costs",null,{"$f":"E196","v":125000}]
[null,null,"Beheerkosten",null,50000]
[null,null,"Sub-total",null,1618553.7838309002]
[null,null,"Interest During Construction",null,70335.510970013172]
[null,null,"DSRA",null,{"$f":"E212","v":54343.696982682406}]
[null,null,"Total Uses of Funds",null,{"$f":"E230+E231+E232","v":1743232.9917835959}]
[]
[null,"Sources of Funds"]
[null,null,"Senior Debt",null,{"$f":"E299","v":1093526.2241841012},{"$f":"E236/E240","v":0.6272978020369242}]
[null,null,"Junior Debt",null,{"$f":"E316","v":0}]
[null,null,"Preference Shares",null,{"$f":"(E233-E236-E237)*L30","v":324853.38379974733}]
[null,null,"Common Equity",null,{"$f":"E206+E222-E214-E238","v":324853.38379974733}]
[null,null,"Total Sources of Funds",null,{"$f":"SUM(E236:E239)","v":1743232.9917835959}]
[]
[null,null,"Check",null,{"$f":"E240=E233","v":true}]
[]
["CFADS for Debt Service Coverage and Sizing"]
[null,"CFADS for Senior Debt"]
[null,null,"EBITDA",null,null,{"$f":"F180","v":200941.82459349203},{"$f":"G180","v":186008.39213672085},188265.46844278529,184295.95921686781,180376.50133233907,176507.85883377981,179367.24360940204,182270.88682558967,185219.46603564071,188213.66909291904,191254.19430672415,194341.75060051036,197477.0576724952,200660.84615868956,203893.85779838797,2.0289990097110122E-5,2.4440185093075059E-5,2.4401551400475127E-5,2.4362338202054075E-5,2.4322536805656057E-5,2.4282138388311433E-5]
[null,null,"∆ Debiteuren",null,null,{"$f":"Model!F128","v":0},{"$f":"Model!G128","v":0},{"$f":"Model!H128","v":0},{"$f":"Model!I128","v":0},{"$f":"Model!J128","v":0},{"$f":"Model!K128","v":0},{"$f":"Model!L128","v":0},{"$f":"Model!M128","v":0},{"$f":"Model!N128","v":0},{"$f":"Model!O128","v":0},{"$f":"Model!P128","v":0},{"$f":"Model!Q128","v":0},{"$f":"Model!R128","v":0},{"$f":"Model!S128","v":0},{"$f":"Model!T128","v":0},{"$f":"Model!U128","v":0},{"$f":"Model!V128","v":0},{"$f":"Model!W128","v":0},{"$f":"Model!X128","v":0},{"$f":"Model!Y128","v":0},{"$f":"Model!Z128","v":0}]
[null,null,"∆ Crediteuren",null,null,{"$f":"Model!F134","v":0},{"$f":"Model!G134","v":0},{"$f":"Model!H134","v":0},{"$f":"Model!I134","v":0},{"$f":"Model!J134","v":0},{"$f":"Model!K134","v":0},{"$f":"Model!L134","v":0},{"$f":"Model!M134","v":0},{"$f":"Model!N134","v":0},{"$f":"Model!O134","v":0},{"$f":"Model!P134","v":0},{"$f":"Model!Q134","v":0},{"$f":"Model!R134","v":0},{"$f":"Model!S134","v":0},{"$f":"Model!T134","v":0},{"$f":"Model!U134","v":0},{"$f":"Model!V134","v":0},{"$f":"Model!W134","v":0},{"$f":"Model!X134","v":0},{"$f":"Model!Y134","v":0},{"$f":"Model!Z134","v":0}]
[null,null,"Plus: Interest Income"]
[null,null,"Less: Taxes",null,null,{"$f":"F453","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"CFADS",null,null,{"$f":"F246-F247+F248-F250+F249","v":200941.82459349203},{"$f":"G246-G247+G248-G250+G249","v":186008.39213672085},188265.46844278529,184295.95921686781,180376.50133233907,176507.85883377981,179367.24360940204,182270.88682558967,185219.46603564071,188213.66909291904,191254.19430672415,194341.75060051036,197477.0576724952,200660.84615868956,203893.85779838797,2.0289990097110122E-5,2.4440185093075059E-5,2.4401551400475127E-5,2.4362338202054075E-5,2.4322536805656057E-5,2.4282138388311433E-5]
[]
["Senior Debt - Level Repayment"]
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[null,null,"Senior Outstanding Switch",{"$f":"Model!D17","v":15},null,{"$f":"F3<=$D$255","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,null,"Percent of Period",null,null,{"$f":"F2","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1E-10,1E-10,1E-10,1E-10,1E-10,1E-10]
[]
[null,null,"Opening Balance",null,null,{"$f":"Model!E260","v":0},{"$f":"Model!F260","v":0},{"$f":"Model!G260","v":0},{"$f":"Model!H260","v":0},{"$f":"Model!I260","v":0},{"$f":"Model!J260","v":0},{"$f":"Model!K260","v":0},{"$f":"Model!L260","v":0},{"$f":"Model!M260","v":0},{"$f":"Model!N260","v":0},{"$f":"Model!O260","v":0},{"$f":"Model!P260","v":0},{"$f":"Model!Q260","v":0},{"$f":"Model!R260","v":0},{"$f":"Model!S260","v":0},{"$f":"Model!T260","v":0},{"$f":"Model!U260","v":0},{"$f":"Model!V260","v":0},{"$f":"Model!W260","v":0},{"$f":"Model!X260","v":0},{"$f":"Model!Y260","v":0}]
[null,null,"Less: Repayment",{"$f":"Model!D754","v":15},{"$f":"E260/D259","v":0},{"$f":"MIN($E$259*F256,F258)","v":0},{"$f":"MIN($E$259*G256,G258)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Closing Balance",null,{"$f":"Model!F439","v":0},{"$f":"F258-F259","v":0},{"$f":"G258-G259","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Interest",{"$f":"D16","v":3.2725000000000011E-2},null,{"$f":"F258*$D$261*F256","v":0},{"$f":"G258*$D$261*G256","v":0},{"$f":"H258*$D$261*H256","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Debt Service",null,null,{"$f":"F259+F261","v":0},{"$f":"G259+G261","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"CFADS",null,"Target",{"$f":"F251","v":200941.82459349203},{"$f":"G251","v":186008.39213672085},188265.46844278529,184295.95921686781,180376.50133233907,176507.85883377981,179367.24360940204,182270.88682558967,185219.46603564071,188213.66909291904,191254.19430672415,194341.75060051036,197477.0576724952,200660.84615868956,203893.85779838797,2.0289990097110122E-5,2.4440185093075059E-5,2.4401551400475127E-5,2.4362338202054075E-5,2.4322536805656057E-5,2.4282138388311433E-5]
[null,null,"DSCR",{"$f":"MIN(G265:Z265)","v":0},{"$f":"Model!target_dscr_sr","v":1.3},{"$f":"IF(F263,F264/F263)","v":false},{"$f":"IF(G263,G264/G263)","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,null,"Senior Debt Difference",{"$f":"E265-D265","v":1.3}]
[]
[null,null,"Debt from Goal Seek",{"$f":"D293","v":1093526.2241841012}]
[null,null,"Max from Debt to Capital",{"$f":"Model!E639","v":1097778.0416205938}]
[null,null,"Applied Debt",{"$f":"MIN(D268:D269)","v":1093526.2241841012}]
[]
["Sub-Debt Level Repayment"]
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[null,null,"Less: Repayment",{"$f":"Model!D30","v":19},null,{"$f":"MIN(F274,$E$276/$D$275*F2)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Closing Balance",null,{"$f":"[0]!Sub_Debt_from_Goal_Seek","v":0},{"$f":"F274-F275","v":0},{"$f":"G274-G275","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Intrest Rate",null,null,{"$f":"Model!F627","v":6.5000000000000002E-2},{"$f":"Model!G627","v":6.5000000000000002E-2},{"$f":"Model!H627","v":6.5000000000000002E-2},{"$f":"Model!I627","v":6.5000000000000002E-2},{"$f":"Model!J627","v":6.5000000000000002E-2},{"$f":"Model!K627","v":6.5000000000000002E-2},{"$f":"Model!L627","v":6.5000000000000002E-2},{"$f":"Model!M627","v":6.5000000000000002E-2},{"$f":"Model!N627","v":6.5000000000000002E-2},{"$f":"Model!O627","v":6.5000000000000002E-2},{"$f":"Model!P627","v":6.5000000000000002E-2},{"$f":"Model!Q627","v":6.5000000000000002E-2},{"$f":"Model!R627","v":6.5000000000000002E-2},{"$f":"Model!S627","v":6.5000000000000002E-2},{"$f":"Model!T627","v":6.5000000000000002E-2},{"$f":"Model!U627","v":6.5000000000000002E-12},{"$f":"Model!V627","v":6.5000000000000002E-12},{"$f":"Model!W627","v":6.5000000000000002E-12},{"$f":"Model!X627","v":6.5000000000000002E-12},{"$f":"Model!Y627","v":6.5000000000000002E-12},{"$f":"Model!Z627","v":6.5000000000000002E-12}]
[null,null,"Interest on Sub",null,null,{"$f":"F277*F274","v":0},{"$f":"G277*G274","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Debt Service on Sub",null,null,{"$f":"F275+F278","v":0},{"$f":"G275+G278","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Debt Service on Senior",null,null,{"$f":"F297+F302","v":108687.39396536481},105694.14983548614,102825.31028985196,99860.384715726686,96873.856189901562,93867.603008212405,90840.746021726547,87704.94564962016,84458.196479988459,81098.457980912179,77623.653905908664,35657.758723684077,0,0,0,0,0,0,0,0,0]
[null,null,"Total Debt Service",null,null,{"$f":"F280+F281","v":108687.39396536481},{"$f":"G280+G281","v":105694.14983548614},102825.31028985196,99860.384715726686,96873.856189901562,93867.603008212405,90840.746021726547,87704.94564962016,84458.196479988459,81098.457980912179,77623.653905908664,35657.758723684077,0,0,0,0,0,0,0,0,0]
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[null,null,"DSCR",{"$f":"MIN(G284:Z284)","v":1.7598740557187369},{"$f":"Model!target_dscr_jr","v":1.1000000000000001},{"$f":"IF(F282>0.1,F283/F282)","v":1.8488052501978818},{"$f":"IF(G282>0.1,G283/G282)","v":1.7598740557187369},1.8309253617819192,1.8455362428404869,1.8619729659439539,1.8803916705781576,1.9745241146137489,2.0782281486583312,2.1930312717431355,2.3208045353614262,2.4638648747268777,5.4501953447631442,false,false,false,false,false,false,false,false,false]
[null,null,"Sub Difference",{"$f":"Difference_Total_DSCR-D284","v":-0.65987405571873681},null,{"$f":"F439","v":0},{"$f":"F285-R439*F2","v":0},{"$f":"G285*P439","v":0}]
[]
["Final Senior Debt Balance"]
[null,"Level Debt Switch",null,{"$f":"Model!D21","v":true}]
[null,"Sculpted Debt Repayment",null,{"$f":"SUM(F289:Z289)","v":1274327.7979129096},null,{"$f":"Model!F770","v":73230.849737027369},{"$f":"Model!G770","v":67504.538773361739},{"$f":"Model!H770","v":71041.504027528863},{"$f":"Model!I770","v":71272.948254020608},{"$f":"Model!J770","v":71539.799112707202},{"$f":"Model!K770","v":71843.680795427674},{"$f":"Model!L770","v":75859.55833951055},{"$f":"Model!M770","v":80036.326077832098},{"$f":"Model!N770","v":84379.827057080489},{"$f":"Model!O770","v":88896.108654479438},{"$f":"Model!P770","v":93591.429610783773},{"$f":"Model!Q770","v":98472.267303689368},{"$f":"Model!R770","v":103545.32526985355},{"$f":"Model!S770","v":108817.54098399669},{"$f":"Model!T770","v":114296.09390384669},{"$f":"Model!U770","v":1.1763530033932538E-5},{"$f":"Model!V770","v":0},{"$f":"Model!W770","v":0},{"$f":"Model!X770","v":0},{"$f":"Model!Y770","v":0},{"$f":"Model!Z770","v":0}]
[null,"Level Debt Repayment",null,{"$f":"SUM(F290:Z290)","v":0},null,{"$f":"Model!F259","v":0},{"$f":"Model!G259","v":0},{"$f":"Model!H259","v":0},{"$f":"Model!I259","v":0},{"$f":"Model!J259","v":0},{"$f":"Model!K259","v":0},{"$f":"Model!L259","v":0},{"$f":"Model!M259","v":0},{"$f":"Model!N259","v":0},{"$f":"Model!O259","v":0},{"$f":"Model!P259","v":0},{"$f":"Model!Q259","v":0},{"$f":"Model!R259","v":0},{"$f":"Model!S259","v":0},{"$f":"Model!T259","v":0},{"$f":"Model!U259","v":0},{"$f":"Model!V259","v":0},{"$f":"Model!W259","v":0},{"$f":"Model!X259","v":0},{"$f":"Model!Y259","v":0},{"$f":"Model!Z259","v":0}]
[]
[null,{"$f":"IF($D$288,B290,B289)","v":"Level Debt Repayment"},null,{"$f":"SUM(F292:Z292)","v":0},null,{"$f":"IF($D$288,F290,F289)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[]
[null,"Opening Balance",null,null,null,{"$f":"Model!E299","v":1093526.2241841012},{"$f":"Model!F299","v":1002059.6350357844},{"$f":"Model!G299","v":914394.56106682552},{"$f":"Model!H299","v":823793.32121578604},{"$f":"Model!I299","v":732531.94533113739},{"$f":"Model!J299","v":640667.82977149962},{"$f":"Model!K299","v":548174.10978721059},{"$f":"Model!L299","v":452351.33294667915},{"$f":"Model!M299","v":353138.21851943084},{"$f":"Model!N299","v":250472.4125889102},{"$f":"Model!O299","v":144290.46988444845},{"$f":"Model!P299","v":34527.835313064053},{"$f":"Model!Q299","v":0},{"$f":"Model!R299","v":0},{"$f":"Model!S299","v":0},{"$f":"Model!T299","v":0},{"$f":"Model!U299","v":0},{"$f":"Model!V299","v":0},{"$f":"Model!W299","v":0},{"$f":"Model!X299","v":0},{"$f":"Model!Y299","v":0}]
[null,"Add: Draws"]
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[null,"Less: Cash Sweep",null,null,null,{"$f":"F403","v":18564.840869376618},{"$f":"G403","v":14763.325690018835},17699.491572099429,18359.627605708498,18962.367280697694,19591.971705348878,22921.028561591353,26311.366148308211,29764.057651580544,33280.194425521651,36860.886292444316,0,0,0,0,0,0,0,0,0,0]
[null,"Closing Balance",null,null,{"$f":"IF(D297,D293,D292)","v":1093526.2241841012},{"$f":"F295-F297-F298","v":1002059.6350357844},{"$f":"G295-G297-G298","v":914394.56106682552},823793.32121578604,732531.94533113739,640667.82977149962,548174.10978721059,452351.33294667915,353138.21851943084,250472.4125889102,144290.46988444845,34527.835313064053,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Interest Rate",null,{"$f":"D16","v":3.2725000000000011E-2},null,{"$f":"$D$301*F2","v":3.2725000000000011E-2},3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000011E-2,3.2725000000000013E-12,3.2725000000000013E-12,3.2725000000000013E-12,3.2725000000000013E-12,3.2725000000000013E-12,3.2725000000000013E-12]
[null,"Interest Expense",null,null,null,{"$f":"F301*F295","v":35785.645686424723},{"$f":"G301*G295","v":32792.401556546058},29923.562010911875,26958.636436786608,23972.10791096148,20965.854729272331,17938.997742786472,14803.19737068008,11556.448201048379,8196.7097019720895,4721.9056269685771,1129.9234106200215,0,0,0,0,0,0,0,0,0]
[null,"Applied Debt Service",null,null,null,{"$f":"F302+F297","v":108687.39396536481},{"$f":"G302+G297","v":105694.14983548614},102825.31028985196,99860.384715726686,96873.856189901562,93867.603008212405,90840.746021726547,87704.94564962016,84458.196479988459,81098.457980912179,77623.653905908664,35657.758723684077,0,0,0,0,0,0,0,0,0]
[]
["Final Sub Debt"]
[null,null,"Level Payment Switch",{"$f":"Model!D33","v":true}]
[null,null,"Sculpted Repayment",null,null,{"$f":"Model!F623","v":18120.290436502401},{"$f":"Model!G623","v":8715.5057567799158},{"$f":"Model!H623","v":14202.740727572476},{"$f":"Model!I623","v":14482.19969815587},{"$f":"Model!J623","v":14846.927672971382},{"$f":"Model!K623","v":15301.283427440714},{"$f":"Model!L623","v":21922.164541821323},{"$f":"Model!M623","v":29122.58126022575},{"$f":"Model!N623","v":36942.824766363992},{"$f":"Model!O623","v":45425.849654597856},{"$f":"Model!P623","v":54617.447787882171},{"$f":"Model!Q623","v":102940.34643430654},{"$f":"Model!R623","v":148139.50683257042},{"$f":"Model!S623","v":160662.92794595507},{"$f":"Model!T623","v":174045.11975307707},{"$f":"Model!U623","v":1.8445445542131184E-5},{"$f":"Model!V623","v":2.2218350084037388E-5},{"$f":"Model!W623","v":2.2183228545454596E-5},{"$f":"Model!X623","v":2.2147580183397832E-5},{"$f":"Model!Y623","v":2.2111397095907228E-5},{"$f":"Model!Z623","v":-6.5856517934265697E-21}]
[null,null,"Level Payments",null,null,{"$f":"Model!F275","v":0},{"$f":"Model!G275","v":0},{"$f":"Model!H275","v":0},{"$f":"Model!I275","v":0},{"$f":"Model!J275","v":0},{"$f":"Model!K275","v":0},{"$f":"Model!L275","v":0},{"$f":"Model!M275","v":0},{"$f":"Model!N275","v":0},{"$f":"Model!O275","v":0},{"$f":"Model!P275","v":0},{"$f":"Model!Q275","v":0},{"$f":"Model!R275","v":0},{"$f":"Model!S275","v":0},{"$f":"Model!T275","v":0},{"$f":"Model!U275","v":0},{"$f":"Model!V275","v":0},{"$f":"Model!W275","v":0},{"$f":"Model!X275","v":0},{"$f":"Model!Y275","v":0},{"$f":"Model!Z275","v":0}]
[null,null,{"$f":"IF($D$306,C308,C307)","v":"Level Payments"},null,{"$f":"SUM(F309:Z309)","v":0},{"$f":"IF($D$306,F308,F307)","v":0},{"$f":"IF($D$306,G308,G307)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Fixed Repayment",null,null,{"$f":"Model!F309","v":0},{"$f":"Model!G309","v":0},{"$f":"Model!H309","v":0},{"$f":"Model!I309","v":0},{"$f":"Model!J309","v":0},{"$f":"Model!K309","v":0},{"$f":"Model!L309","v":0},{"$f":"Model!M309","v":0},{"$f":"Model!N309","v":0},{"$f":"Model!O309","v":0},{"$f":"Model!P309","v":0},{"$f":"Model!Q309","v":0},{"$f":"Model!R309","v":0},{"$f":"Model!S309","v":0},{"$f":"Model!T309","v":0},{"$f":"Model!U309","v":0},{"$f":"Model!V309","v":0},{"$f":"Model!W309","v":0},{"$f":"Model!X309","v":0},{"$f":"Model!Y309","v":0},{"$f":"Model!Z309","v":0}]
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[]
[null,null,"Opening Balance",null,null,{"$f":"Model!E316","v":0},{"$f":"Model!F316","v":0},{"$f":"Model!G316","v":0},{"$f":"Model!H316","v":0},{"$f":"Model!I316","v":0},{"$f":"Model!J316","v":0},{"$f":"Model!K316","v":0},{"$f":"Model!L316","v":0},{"$f":"Model!M316","v":0},{"$f":"Model!N316","v":0},{"$f":"Model!O316","v":0},{"$f":"Model!P316","v":0},{"$f":"Model!Q316","v":0},{"$f":"Model!R316","v":0},{"$f":"Model!S316","v":0},{"$f":"Model!T316","v":0},{"$f":"Model!U316","v":0},{"$f":"Model!V316","v":0},{"$f":"Model!W316","v":0},{"$f":"Model!X316","v":0},{"$f":"Model!Y316","v":0}]
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[null,null,"Closing Balance",{"$f":"SUM(F315:Z315)","v":0},{"$f":"Model!E309","v":0},{"$f":"F314-F315","v":0},{"$f":"G314-G315","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Sub Debt Interest",null,null,{"$f":"F317*F314","v":0},{"$f":"G317*G314","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["Preference Shares"]
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[]
[null,"Non-Paid Preference Shares"]
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[null,null,"Closing Balance",null,null,{"$f":"F327+F328+F329-F330","v":0},{"$f":"G327+G328+G329-G330","v":1479.3434999685305},22.521117856467754,0,0,0,0,0,0,0,0,0,0,0,0,4999.9999818088363,10599.999957284539,16871.99992985596,23896.639899175163,31764.236664852473,40575.945042451465]
[]
[null,null,"Interest on Default",{"$f":"D324","v":0.12},null,{"$f":"F327*$D$333","v":0},{"$f":"G327*$D$333","v":0},177.52121999622366,2.7025341427761305,0,0,0,0,0,0,0,0,0,0,0,0,599.99999781706038,1271.9999948741447,2024.6399915827151,2867.5967879010195,3811.7083997822965]
[]
["Debt Service Reserve Account"]
[]
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[]
[null,"Senior Debt Service - Annual",null,null,null,{"$f":"F303/F2","v":108687.39396536481},105694.14983548614,102825.31028985196,99860.384715726686,96873.856189901562,93867.603008212405,90840.746021726547,87704.94564962016,84458.196479988459,81098.457980912179,77623.653905908664,35657.758723684077,0,0,0,0,0,0,0,0,0]
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[]
[null,"DSRA Balance"]
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[null,null,"Add: DSRA During Cosntruction",null,{"$f":"Model!E343","v":54343.696982682406}]
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[]
[null,null,"Interest Income on DSRA",0,null,{"$f":"F346*$D$351","v":0},{"$f":"G346*$D$351","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
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[null,"Rente aandeelhouderslening"]
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[]
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[]
["Cash Flow Waterfall"]
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[null,"Less: Captial Expenditures",null,null,null,{"$f":"F195+F196+F197+F199","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Cash Flow Availabile for Debt Service",null,null,{"$f":"F388-F389-F390-F391-F392","v":184799.48176008771},172254.08696869502,173485.98010441975,169717.38760886071,165984.51559607268,162288.35096088744,163970.48738408805,165666.24188261689,167375.75541673138,169099.1701627388,170836.62951878214,172588.27811054143,174870.5390860053,177417.56987496078,180003.97918671952,-4999.9999792100098,-4999.9999750598154,-4999.9999750984489,-4999.9999751376617,-4999.9999751774631,-4999.9999752178619]
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[null,"Less: Repayment on Senior Debt",null,null,null,{"$f":"Model!F297","v":72901.748278940082},{"$f":"Model!G297","v":72901.748278940082},{"$f":"Model!H297","v":72901.748278940082},{"$f":"Model!I297","v":72901.748278940082},{"$f":"Model!J297","v":72901.748278940082},{"$f":"Model!K297","v":72901.748278940082},{"$f":"Model!L297","v":72901.748278940082},{"$f":"Model!M297","v":72901.748278940082},{"$f":"Model!N297","v":72901.748278940082},{"$f":"Model!O297","v":72901.748278940082},{"$f":"Model!P297","v":72901.748278940082},{"$f":"Model!Q297","v":34527.835313064053},{"$f":"Model!R297","v":0},{"$f":"Model!S297","v":0},{"$f":"Model!T297","v":0},{"$f":"Model!U297","v":0},{"$f":"Model!V297","v":0},{"$f":"Model!W297","v":0},{"$f":"Model!X297","v":0},{"$f":"Model!Y297","v":0},{"$f":"Model!Z297","v":0}]
[null,null,"Cash Flow Available for Sub Debt",null,null,{"$f":"F393-F394-F395","v":76112.087794722916},66559.937133208863,70660.669814567795,69857.002893134006,69110.659406171137,68420.747952675025,73129.741362361485,77961.296232996727,82917.558936742906,88000.712181826631,93212.975612873488,136930.51938685737,174870.5390860053,177417.56987496078,180003.97918671952,-4999.9999792100098,-4999.9999750598154,-4999.9999750984489,-4999.9999751376617,-4999.9999751774631,-4999.9999752178619]
[null,"Less: Interest on Sub Debt",null,null,null,{"$f":"Model!F318","v":0},{"$f":"Model!G318","v":0},{"$f":"Model!H318","v":0},{"$f":"Model!I318","v":0},{"$f":"Model!J318","v":0},{"$f":"Model!K318","v":0},{"$f":"Model!L318","v":0},{"$f":"Model!M318","v":0},{"$f":"Model!N318","v":0},{"$f":"Model!O318","v":0},{"$f":"Model!P318","v":0},{"$f":"Model!Q318","v":0},{"$f":"Model!R318","v":0},{"$f":"Model!S318","v":0},{"$f":"Model!T318","v":0},{"$f":"Model!U318","v":0},{"$f":"Model!V318","v":0},{"$f":"Model!W318","v":0},{"$f":"Model!X318","v":0},{"$f":"Model!Y318","v":0},{"$f":"Model!Z318","v":0}]
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[null,null,"Cash Flow After Scheduled Repayment",null,null,{"$f":"F396-F397-F398","v":76112.087794722916},66559.937133208863,70660.669814567795,69857.002893134006,69110.659406171137,68420.747952675025,73129.741362361485,77961.296232996727,82917.558936742906,88000.712181826631,93212.975612873488,136930.51938685737,174870.5390860053,177417.56987496078,180003.97918671952,-4999.9999792100098,-4999.9999750598154,-4999.9999750984489,-4999.9999751376617,-4999.9999751774631,-4999.9999752178619]
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[null,null,"Cash Flow Available for Sweep",null,null,{"$f":"F399-F400+F401","v":37129.681738753236},{"$f":"G399-G400+G401","v":29526.651380037671},35398.983144198857,36719.255211416996,37924.734561395388,39183.943410697757,45842.057123182705,52622.732296616421,59528.115303161088,66560.388851043303,73721.772584888633,119388.436661671,159277.57666361742,163773.72775537139,168309.25736992859,0,0,0,0,0,0]
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[null,"Less: Repayment of Default",null,null,null,{"$f":"MIN(MAX(F404-F406,0),F327)","v":0},0,1456.8223821120628,22.521117856467754,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Cash Flow to Common Equity",null,null,{"$f":"F404-F406+F407-F408+F405","v":3818.7937443285882},{"$f":"G404-G406+G407-G408+G405","v":1434.4197728170911},1482.4627870626355,3587.7015607772264,4222.8246815549064,4862.7310086044417,8246.2595576571803,11692.071543136695,15201.257711131319,18774.927273036043,41601.164693569241,120974.64683352568,143034.90747363007,147531.05856538404,152066.58817994123,0,0,0,0,0,0]
[]
[null,null,"Net Equity Cash Flow",null,{"$f":"-E239","v":-324853.38379974733},{"$f":"Model!F409","v":3818.7937443285882},{"$f":"Model!G409","v":1434.4197728170911},{"$f":"Model!H409","v":1482.4627870626355},{"$f":"Model!I409","v":3587.7015607772264},{"$f":"Model!J409","v":4222.8246815549064},{"$f":"Model!K409","v":4862.7310086044417},{"$f":"Model!L409","v":8246.2595576571803},{"$f":"Model!M409","v":11692.071543136695},{"$f":"Model!N409","v":15201.257711131319},{"$f":"Model!O409","v":18774.927273036043},{"$f":"Model!P409","v":41601.164693569241},{"$f":"Model!Q409","v":120974.64683352568},{"$f":"Model!R409","v":143034.90747363007},{"$f":"Model!S409","v":147531.05856538404},{"$f":"Model!T409","v":152066.58817994123},{"$f":"Model!U409","v":0},{"$f":"Model!V409","v":0},{"$f":"Model!W409","v":0},{"$f":"Model!X409","v":0},{"$f":"Model!Y409","v":0},{"$f":"Model!Z409","v":0}]
[]
[null,null,"CFADS for Debt Service",null,null,{"$f":"F393","v":184799.48176008771},172254.08696869502,173485.98010441975,169717.38760886071,165984.51559607268,162288.35096088744,163970.48738408805,165666.24188261689,167375.75541673138,169099.1701627388,170836.62951878214,172588.27811054143,174870.5390860053,177417.56987496078,180003.97918671952,-4999.9999792100098,-4999.9999750598154,-4999.9999750984489,-4999.9999751376617,-4999.9999751774631,-4999.9999752178619]
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[null,null,"DSCR for Sweep Test",null,null,{"$f":"IF(F414>0.1,F413/F414)","v":1.7002844121828644},{"$f":"IF(G414>0.1,G413/G414)","v":1.629740976551777},1.6871914085684159,1.6995467030494273,1.7134087784292769,1.7289069472317191,1.805032373301634,1.8889042192039072,1.9817585787116521,2.0851095615472612,2.2008321036505363,4.8401325346314419,false,false,false,false,false,false,false,false,false]
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[]
[null,null,"Equity IRR",{"$f":"XIRR(E411:Z411,E1:Z1)","v":5.9350481629371649E-2}]
[null,null,"Target IRR",{"$f":"Model!H12","v":1E-3}]
[null,null,"Difference",{"$f":"D420-D419","v":-5.8350481629371648E-2}]
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[null,null,"Preference Cash Flow",null,{"$f":"-E238","v":-324853.38379974733},{"$f":"F400+F406+F408-F401-F407","v":55225.07524595705},{"$f":"G400+G406+G408-G401-G407","v":51796.611443190035},52961.178242468362,49402.937989560844,47428.594034763111,45479.47373196463,43530.353429166149,41581.233126367668,39632.112823569187,37682.992520770698,35733.872217972217,33784.751915173736,31835.631612375251,29886.511309576767,27937.391006778285,-4999.9999792100089,-4999.9999750598154,-4999.9999750984489,-4999.9999751376617,-4999.9999751774631]
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[]
["Graphs"]
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[]
["Dynamic Goal Seek"]
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[null,null,"Taxes from Function",null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Senior Interest",null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[]
[null,null,"Opening Balance",null,null,{"$f":"F258","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Computed CFADS",null,null,{"$f":"F441-F453","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Taxes from P&L",null,null,{"$f":"F382","v":16142.342833404326},13754.305168025825,14779.488338365549,14578.571608007107,14391.985736266384,14219.507872892364,15396.75622531398,16604.644942972784,17843.710618909332,19114.49893018026,20417.564787941974,21753.472489968935,22606.518586489907,23243.276283728777,23889.878611668464,0,0,0,0,0,0]
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[]
[null,null,"Senior Interest",null,null,{"$f":"F302","v":35785.645686424723},32792.401556546058,29923.562010911875,26958.636436786608,23972.10791096148,20965.854729272331,17938.997742786472,14803.19737068008,11556.448201048379,8196.7097019720895,4721.9056269685771,1129.9234106200215,0,0,0,0,0,0,0,0,0]
[]
[]
[null,null,"Sub Debt from Goal Seek",{"$f":"Model!G439","v":0}]
[null,null,"Debt Sized Applied",{"$f":"[0]!Sub_Debt_from_Goal_Seek","v":0}]
[]
[]
[]
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[null,null,"Reserve 1",0,null,{"$f":"D470-F365","v":0},{"$f":"F470-G365","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Reserve 2",0,null,{"$f":"D471-F366","v":0},{"$f":"F471-G366","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Liquide middelen",{"$f":"Model!D485","v":1050000}]
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[]
[null,null,"Eigen vermogen",0]
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[null,null,"Junior Obligatielening",0,null,{"$f":"Model!F607","v":155100},{"$f":"Model!G607","v":150733.04290671481},{"$f":"Model!H607","v":146082.23360236609},{"$f":"Model!I607","v":141129.12169323472},{"$f":"Model!J607","v":135854.05751000979},{"$f":"Model!K607","v":130236.11415487525},{"$f":"Model!L607","v":124253.00448165696},{"$f":"Model!M607","v":117880.99267967948},{"$f":"Model!N607","v":111094.80011057346},{"$f":"Model!O607","v":103867.50502447555},{"$f":"Model!P607","v":96170.435757781277},{"$f":"Model!Q607","v":87973.05698875188},{"$f":"Model!R607","v":79242.84859973556},{"$f":"Model!S607","v":69945.176665433188},{"$f":"Model!T607","v":60043.156055401159},{"$f":"Model!U607","v":49497.504105717053},{"$f":"Model!V607","v":38266.38477930348},{"$f":"Model!W607","v":26305.242696673024},{"$f":"Model!X607","v":13566.626378671586},{"$f":"Model!Y607","v":5.6388671509921551E-11},{"$f":"Model!Z607","v":0}]
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[]
[]
["Consolidated Cash Flow"]
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[null,null,"Capex",null,null,{"$f":"Model!E159","v":1443553.7838309002},{"$f":"Model!G159","v":0},{"$f":"Model!H159","v":0},{"$f":"Model!I159","v":0},{"$f":"Model!J159","v":0},{"$f":"Model!K159","v":0},{"$f":"Model!L159","v":0},{"$f":"Model!M159","v":0},{"$f":"Model!N159","v":0},{"$f":"Model!O159","v":0},{"$f":"Model!P159","v":0},{"$f":"Model!Q159","v":0},{"$f":"Model!R159","v":0},{"$f":"Model!S159","v":0},{"$f":"Model!T159","v":0},{"$f":"Model!U159","v":0},{"$f":"Model!V159","v":0},{"$f":"Model!W159","v":0},{"$f":"Model!X159","v":0},{"$f":"Model!Y159","v":0},{"$f":"Model!Z159","v":0}]
[null,null,"Afschrijving",null,null,{"$f":"-F371","v":84444.464740045674},84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,84444.464740045674,8.4444464740045679E-6,8.4444464740045679E-6,8.4444464740045679E-6,8.4444464740045679E-6,8.4444464740045679E-6,8.4444464740045679E-6]
[null,null,"∆ Debiteuren",null,null,{"$f":"-(F473-D473)","v":0},{"$f":"-(G473-F473)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ Crediteuren",null,null,{"$f":"F480-D480","v":0},{"$f":"G480-F480","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ Risico reserve",null,null,{"$f":"-(F472-D472)","v":0},{"$f":"-(G472-F472)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ Senior Lening",null,null,{"$f":"F483-D483","v":1352166.6057169533},{"$f":"G483-F483","v":-90144.440381130204},-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130204,-90144.440381130218,-90144.440381130218,-2.0372681319713593E-10,0,0,0,0]
[null,null,"∆ Junior Lening",null,null,{"$f":"F482-D482","v":155100},{"$f":"G482-F482","v":-4366.957093285193},-4650.809304348717,-4953.111909131374,-5275.0641832249239,-5617.9433551345428,-5983.1096732182923,-6372.0118019774818,-6786.1925691060169,-7227.2950860979035,-7697.0692666942778,-8197.3787690293975,-8730.2083890163194,-9297.6719343023724,-9902.0206100320283,-10545.651949684107,-11231.119326413573,-11961.142082630457,-12738.616318001437,-13566.62637867153,-5.6388671509921551E-11]
[null,null,"∆ ObligatieLening",null,null,{"$f":"F484-D484","v":-1050000},{"$f":"G484-F484","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ Voorziening 1",null,null,{"$f":"F478-D478","v":0},{"$f":"G478-F478","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ Reserve 1",null,null,{"$f":"-(F470-D470)","v":0},{"$f":"-(G470-F470)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ Voorziening 2",null,null,{"$f":"F479-D479","v":0},{"$f":"G479-F479","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ Reserve 2",null,null,{"$f":"-(F471-D471)","v":0},{"$f":"-(G471-F471)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ DSRA Senior Lening",null,null,{"$f":"-(F469-D469)","v":-56715.877073127769},{"$f":"-(G469-F469)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,56715.877073127769,0,0,0,0,0]
[null,null,"∆ AandeelhoudersLening",null,null,{"$f":"F481-D481","v":1024547.1918835663},{"$f":"G481-F481","v":-67504.53877336171},-71041.504027528805,-71272.948254020652,-71539.799112707144,-71843.680795427645,-75859.558339510579,-80036.326077832084,-84379.827057080518,-88896.108654479438,-93591.429610783758,-98472.267303689383,-103545.32526985355,-108817.54098399669,-114296.09390384667,-1.1763535439968109E-5,0,0,0,0,0]
[null,null,"Dividends"]
[null,null,"Eigen vermogen",null,null,325000,0,{"$f":"Model!G506","v":0},{"$f":"Model!H506","v":0},{"$f":"Model!I506","v":0},{"$f":"Model!J506","v":0},{"$f":"Model!K506","v":0},{"$f":"Model!L506","v":0},{"$f":"Model!M506","v":0},{"$f":"Model!N506","v":0},{"$f":"Model!O506","v":0},{"$f":"Model!P506","v":0},{"$f":"Model!Q506","v":0},{"$f":"Model!R506","v":0},{"$f":"Model!S506","v":0},{"$f":"Model!T506","v":0},{"$f":"Model!U506","v":0},{"$f":"Model!V506","v":0},{"$f":"Model!W506","v":0},{"$f":"Model!X506","v":0},{"$f":"Model!Y506","v":0}]
[null,null,"Cashflow in jaar"]
[null,null,"Liquide middelen",{"$f":"Model!D474","v":1050000},null,{"$f":"D508+F507","v":1050000},{"$f":"F508+G507","v":1050000},{"$f":"G508+H507","v":1050000},1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000,1050000]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Aandeelhouderslening (SAUND/YARD)",null,null,null,{"$f":"Model!F590","v":0},{"$f":"Model!G590","v":0},{"$f":"Model!H590","v":0},{"$f":"Model!I590","v":0},{"$f":"Model!J590","v":0},{"$f":"Model!K590","v":0},{"$f":"Model!L590","v":0},{"$f":"Model!M590","v":0},{"$f":"Model!N590","v":0},{"$f":"Model!O590","v":0},{"$f":"Model!P590","v":0},{"$f":"Model!Q590","v":0},{"$f":"Model!R590","v":0},{"$f":"Model!S590","v":0},{"$f":"Model!T590","v":0},{"$f":"Model!U590","v":0},{"$f":"Model!V590","v":0},{"$f":"Model!W590","v":0},{"$f":"Model!X590","v":0},{"$f":"Model!Y590","v":0},{"$f":"Model!Z590","v":0}]
[]
[null,null,"EBITDA",null,null,{"$f":"Model!F370","v":200941.82459349203},{"$f":"G370*(G535<=$F$546)","v":186008.39213672085},188265.46844278529,184295.95921686781,180376.50133233907,176507.85883377981,179367.24360940204,182270.88682558967,185219.46603564071,188213.66909291907,191254.19430672412,194341.75060051036,197477.0576724952,200660.84615868956,203893.85779838799,-4999.9999792100098,-4999.9999750598154,-4999.9999750984489,-4999.9999751376617,-4999.9999751774631,-4999.9999752178619]
[null,null,"Vennootschapsbelasting"]
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[null,null,"∆ DSRA Senior lening",null,null,{"$f":"F503*(F535<=$F$546)","v":-56715.877073127769},0,0,0,0,0,0,0,0,0,0,0,0,0,0,56715.877073127769,0,0,0,0,0]
[null,null,"∆ Debiteuren",null,null,{"$f":"F493*(F535<=$F$546)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ Crediteuren",null,null,{"$f":"F494*(F535<=$F$546)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Rente & Aflossing Junior lening",null,null,{"$f":"+F606+F608","v":0},-14448.457093285184,-14448.457093285184,-14448.457093285184,-14448.457093285184,-14448.457093285184,-14448.457093285184,-14448.457093285184,-14448.457093285184,-14448.457093285184,-14448.457093285184,-14448.457093285186,-14448.457093285186,-14448.457093285184,-14448.457093285184,-14448.457093285184,-14448.457093285186,-14448.457093285182,-14448.457093285184,-14448.457093285184,-6.0053935158066453E-11]
[null,null,"CFADS AandeelhouderLening",null,null,{"$f":"SUM(F537:F543)","v":144225.94752036425},{"$f":"SUM(G537:G543)","v":35441.830067929033},{"$f":"SUM(H537:H543)","v":40763.817346951902},39859.219093992848,39004.672182422546,38200.940656821702,44125.236405402356,50093.790594548402,56107.280777557877,62166.394807794662,68271.830994558157,74424.298261302814,80624.516306246078,86873.215765398869,93171.138378055737,-55941.931353456079,-19448.457068345211,-19448.457068383632,-19448.457068422846,-19448.457068462645,-4999.9999752179219]
[]
[null,null,"Looptijd maximaal",null,null,{"$f":"Model!L12","v":"Amount"}]
[null,null,"Rente",null,null,{"$f":"Model!L11","v":0}]
[null,null,"Cash positie na aantrekken lening",null,null,{"$f":"Model!F474","v":0}]
[]
[]
[]
[]
[]
[]
[null,null,"Construction Financing",null,null,{"$f":"Model!F138","v":0},{"$f":"Model!G138","v":1},{"$f":"Model!H138","v":2},{"$f":"Model!I138","v":3},{"$f":"Model!J138","v":4},{"$f":"Model!K138","v":5},{"$f":"Model!L138","v":6},{"$f":"Model!M138","v":7},{"$f":"Model!N138","v":8},{"$f":"Model!O138","v":9},{"$f":"Model!P138","v":10},{"$f":"Model!Q138","v":11},{"$f":"Model!R138","v":12},{"$f":"Model!S138","v":13},{"$f":"Model!T138","v":14},{"$f":"Model!U138","v":15},{"$f":"Model!V138","v":16},{"$f":"Model!W138","v":17},{"$f":"Model!X138","v":18},{"$f":"Model!Y138","v":19},{"$f":"Model!Z138","v":20}]
[null,null,"Open",1050000,null,{"$f":"Model!D558","v":1050000},{"$f":"Model!F558","v":0}]
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[]
[null,null,"Interest rate",0.06]
[]
[]
[null,null,"Senior lening (ASN Bank)",null,null,0,{"$f":"Model!G489","v":0},{"$f":"Model!H489","v":0},{"$f":"Model!I489","v":0},{"$f":"Model!J489","v":0},{"$f":"Model!K489","v":0},{"$f":"Model!L489","v":0},{"$f":"Model!M489","v":0},{"$f":"Model!N489","v":0},{"$f":"Model!O489","v":0},{"$f":"Model!P489","v":0},{"$f":"Model!Q489","v":0},{"$f":"Model!R489","v":0},{"$f":"Model!S489","v":0},{"$f":"Model!T489","v":0},{"$f":"Model!U489","v":0},{"$f":"Model!V489","v":0},{"$f":"Model!W489","v":0},{"$f":"Model!X489","v":0},{"$f":"Model!Y489","v":0},{"$f":"Model!Z489","v":0}]
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[]
[null,null,"Aflossing",null,null,"Lineair"]
[]
[null,null,"Annuiteit",null,null,{"$f":"+IF($F$570=\"Annuïtair\",PMT(F574,F573,F575),0)","v":0}]
[null,null,"Looptijd",null,null,{"$f":"Model!D17","v":15}]
[null,null,"Rente",null,null,{"$f":"Model!D15","v":3.4000000000000002E-2}]
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[]
[null,null,"DSCR Senior lening (ASN Bank)",{"$f":"MIN(G577:Z577)","v":0}]
[null,null,"CFADS"]
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[null,null,"Vennootschapsbelasting"]
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[null,null,"∆ Crediteuren",null,null,null,{"$f":"Model!G494","v":0},{"$f":"Model!H494","v":0},{"$f":"Model!I494","v":0},{"$f":"Model!J494","v":0},{"$f":"Model!K494","v":0},{"$f":"Model!L494","v":0},{"$f":"Model!M494","v":0},{"$f":"Model!N494","v":0},{"$f":"Model!O494","v":0},{"$f":"Model!P494","v":0},{"$f":"Model!Q494","v":0},{"$f":"Model!R494","v":0},{"$f":"Model!S494","v":0},{"$f":"Model!T494","v":0},{"$f":"Model!U494","v":0},{"$f":"Model!V494","v":0},{"$f":"Model!W494","v":0},{"$f":"Model!X494","v":0},{"$f":"Model!Y494","v":0},{"$f":"Model!Z494","v":0}]
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[]
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[]
[]
[null,null,"Junior lening",null,null,0,{"$f":"Model!G564","v":0},{"$f":"Model!H564","v":0},{"$f":"Model!I564","v":0},{"$f":"Model!J564","v":0},{"$f":"Model!K564","v":0},{"$f":"Model!L564","v":0},{"$f":"Model!M564","v":0},{"$f":"Model!N564","v":0},{"$f":"Model!O564","v":0},{"$f":"Model!P564","v":0},{"$f":"Model!Q564","v":0},{"$f":"Model!R564","v":0},{"$f":"Model!S564","v":0},{"$f":"Model!T564","v":0},{"$f":"Model!U564","v":0},{"$f":"Model!V564","v":0},{"$f":"Model!W564","v":0},{"$f":"Model!X564","v":0},{"$f":"Model!Y564","v":0},{"$f":"Model!Z564","v":0}]
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[null,null,"Vennootschapsbelasting"]
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[null,null,"∆ DSRA Senior lening",null,null,null,{"$f":"G503*(G590<=$F$599)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,56715.877073127769,0,0,0,0,0]
[null,null,"∆ Debiteuren",null,null,null,{"$f":"G493*(G590<=$F$599)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"∆ Crediteuren",null,null,null,{"$f":"G494*(G590<=$F$599)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"CFADS Junior Lening",null,null,null,{"$f":"SUM(G591:G596)","v":49890.287161214219},55212.274440237088,54307.676187278033,53453.129275707732,52649.397750106888,58573.693498687542,64542.247687833587,70555.737870843062,76614.851901079848,82720.288087843335,88872.755354588007,95072.973399531256,101321.67285868405,107619.59547134092,-41493.474260170893,-4999.9999750600264,-4999.9999750984489,-4999.9999751376617,-4999.9999751774631,-4999.9999752178619]
[]
[null,null,"Looptijd",null,null,{"$f":"Model!D30","v":19}]
[null,null,"Rente",null,null,{"$f":"Model!D28","v":6.5000000000000002E-2}]
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[null,null,"Aandeelhouderslening",null,null,{"$f":"Model!F771","v":1024547.1918835663}]
[null,null,"Cash positie na aantrekken lening",null,null,{"$f":"Model!F474","v":0}]
[]
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[]
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[null,null,"DS Total",null,null,null,{"$f":"G593+G606+G608","v":-150566.56206879183},-147501.6510958334,-144436.74012287494,-141371.82914991654,-138306.9181769581,-135242.00720399967,-132177.09623104127,-129112.18525808283,-126047.2742851244,-122982.36331216598,-119917.45233920754,-116852.54136624913,-113787.63039329069,-110722.71942033226,-107657.80844737383,-14448.457093285397,-14448.457093285182,-14448.457093285184,-14448.457093285184,-6.0053935158066453E-11]
[]
["Sub Debt Sculpted"]
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[]
[null,null,"Target total Debt Service",{"$f":"Model!target_dscr_jr","v":1.1000000000000001},null,{"$f":"F616/$D$618*F615","v":182674.38599408366},169098.53830610984,171150.42585707753,167541.78110624343,163978.6375748537,160461.68984889073,163061.13055400184,165700.80620508149,168381.33275967336,171103.33553901728,173867.44936974923,176674.31872773668,179524.59788408654,182418.95105335413,185358.05254398903,1.8445445542827381E-5,2.2218350084613689E-5,2.2183228545886478E-5,2.2147580183685522E-5,2.2111397096050959E-5,0]
[null,null,"Less: Senior Debt Service",null,null,{"$f":"F297+F302","v":108687.39396536481},105694.14983548614,102825.31028985196,99860.384715726686,96873.856189901562,93867.603008212405,90840.746021726547,87704.94564962016,84458.196479988459,81098.457980912179,77623.653905908664,35657.758723684077,0,0,0,0,0,0,0,0,0]
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[]
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[null,null,"Interest Rate",{"$f":"Model!D28","v":6.5000000000000002E-2},null,{"$f":"$D$627*F2","v":6.5000000000000002E-2},6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-2,6.5000000000000002E-12,6.5000000000000002E-12,6.5000000000000002E-12,6.5000000000000002E-12,6.5000000000000002E-12,6.5000000000000002E-12]
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[null,null,"Debt Size from DSCR",{"$f":"SUMPRODUCT(F620:Z620/F628:Z628)","v":859487.71680332988}]
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[null,"Debt Sizing"]
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[null,null,"NPV at Target",{"$f":"Model!H12","v":1E-3},null,{"$f":"NPV(D734,F720:Z720)","v":-324675.32467532472}]
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[null,null,"PV of Debt from DSCR",{"$f":"SUMPRODUCT(F756:Z756/F759:Z759)","v":1204698.0640114325}]
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[null,null,"Maximum Debt to Capital (S&U)",{"$f":"Model!E639","v":1097778.0416205938}]
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[null,null,"LLCR from Max Debt to Cap",{"$f":"D763/D762","v":1.8175683921465962}]
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[null,null,"Debt Applied",{"$f":"MIN(D760,D762)","v":1097778.0416205938}]
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[null,"Senior Debt Balance - Sculpted"]
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[null,null,"Repay",null,null,{"$f":"(F756-F772)*F754","v":73230.849737027369},67504.538773361739,71041.504027528863,71272.948254020608,71539.799112707202,71843.680795427674,75859.55833951055,80036.326077832098,84379.827057080489,88896.108654479438,93591.429610783773,98472.267303689368,103545.32526985355,108817.54098399669,114296.09390384669,1.1763530033932538E-5,0,0,0,0,0]
[null,null,"Close",null,{"$f":"Model!D766","v":1097778.0416205938},{"$f":"F769-F770","v":1024547.1918835663},{"$f":"G769-G770","v":957042.65311020461},{"$f":"H769-H770","v":886001.14908267581},814728.20082865516,743188.40171594801,671344.72092052037,595485.16258100979,515448.83650317771,431069.00944609719,342172.90079161775,248581.47118083399,150109.20387714461,46563.878607291059,-62253.66237670563,-176549.7562805523,-176549.75629231584,-176549.75629231584,-176549.75629231584,-176549.75629231584,-176549.75629231584,-176549.75629231584,null,{"$f":"MAX(F771:Z771)","v":1024547.1918835663}]
[null,null,"Interest",{"$f":"Model!D759","v":3.4000000000000002E-2},null,{"$f":"F769*F758","v":37324.453415100194},{"$f":"G769*G758","v":34834.604524041257},32539.450205746958,30124.03906881098,27700.758828174276,25268.405658342235,22825.720511297695,20246.495527754334,17525.260441108043,14656.346321167306,11633.878626915004,8451.7700201483567,5103.7129318229172,1583.1718726478962,-2116.6245208079918,-6.0026917135387795E-7,-6.0026917139387389E-7,-6.0026917139387389E-7,-6.0026917139387389E-7,-6.0026917139387389E-7,-6.0026917139387389E-7]
[null,null,"Test",{"$f":"Z771=0","v":false}]

{"sheet":"Annualized PF","index":2,"n_rows":124,"n_cols":25,"rows_kept":124,"cut":false,"hidden":false,"merged":[]}
[]
["Effective Annual Interest"]
[null,null,"Annual Interest Rate",null,null,{"$f":"Model!D15","v":3.4000000000000002E-2},null,null,{"$f":"Model!D28","v":6.5000000000000002E-2}]
[null,null,"Payments",null,null,4,null,null,4]
[null,null,"Periodic",null,null,{"$f":"F3/F4","v":8.5000000000000006E-3},null,null,{"$f":"I3/I4","v":1.6250000000000001E-2}]
[]
[null,null,"Annual Repayment",null,null,100,null,null,100]
[null,null,"Periodic Repayment",null,null,{"$f":"F7/F4","v":25},null,null,{"$f":"I7/I4","v":25}]
[]
[null,null,"Opening Balance",null,null,{"$f":"E18","v":1000},null,null,{"$f":"H18","v":1000}]
[null,null,"Repayment 1",null,null,{"$f":"IF(F4=4,F8)","v":25},null,null,{"$f":"IF(I4=4,I8)","v":25}]
[null,null,"Subtotal",null,null,{"$f":"F10-F11","v":975},null,null,{"$f":"I10-I11","v":975}]
[null,null,"Repayment 2",null,null,{"$f":"IF(OR(F4=2,F4=4),F8)","v":25},null,null,{"$f":"IF(OR(I4=2,I4=4),I8)","v":25}]
[null,null,"Subtotal",null,null,{"$f":"F12-F13","v":950},null,null,{"$f":"I12-I13","v":950}]
[null,null,"Repayment 3",null,null,{"$f":"IF(F4=4,F8)","v":25},null,null,{"$f":"IF(I4=4,I8)","v":25}]
[null,null,"Subtotal",null,null,{"$f":"F14-F15","v":925},null,null,{"$f":"I14-I15","v":925}]
[null,null,"Repayment 4",null,null,{"$f":"F8","v":25},null,null,{"$f":"I8","v":25}]
[null,null,"Closing Balance",null,1000,{"$f":"F16-F17","v":900},null,1000,{"$f":"I16-I17","v":900}]
[]
[null,null,"Annual",null,null,{"$f":"F10*F3","v":34},null,null,{"$f":"I10*I3","v":65}]
[null,null,"Periodic",null,null,{"$f":"F5*F10+F12*F5+F14*F5+F16*F5","v":32.725000000000009},null,null,{"$f":"I5*I10+I12*I5+I14*I5+I16*I5","v":62.5625}]
[null,null,"Effective",null,null,{"$f":"F21/F10","v":3.2725000000000011E-2},null,null,{"$f":"I21/I10","v":6.2562499999999993E-2}]
[]
[]
["Interest During Construction"]
[null,null,"Periods of Construction",null,null,{"$f":"Model!H29","v":14}]
[]
[null,null,"Total Crowd Funding",null,null,{"$f":"Model!D8","v":1050000}]
[null,null,"Periodic Crowd Funding",null,null,{"$f":"F28/F26","v":75000}]
[null,null,"Annual Interest Rate",null,null,{"$f":"Model!D9","v":0.06}]
[null,null,"Periodic Interest Rate",null,null,{"$f":"F30/12","v":5.0000000000000001E-3}]
[]
[null,null,"Period",null,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20]
[null,null,"Switch",null,{"$f":"F26","v":14},{"$f":"F33<=$E$34","v":true},{"$f":"G33<=$E$34","v":true},true,true,true,true,true,true,true,true,true,true,true,true,false,false,false,false,false,false]
[null,null,"Draws",null,{"$f":"F29","v":75000},{"$f":"$E$35*F34","v":75000},{"$f":"$E$35*G34","v":75000},75000,75000,75000,75000,75000,75000,75000,75000,75000,75000,75000,75000,0,0,0,0,0,0]
[]
[null,null,"Opening Balance",null,null,{"$f":"E40","v":0},{"$f":"F40","v":1050000},1055250,1060526.25,1065828.8812500001,1071158.0256562501,1076513.8157845314,1081896.3848634542,1087305.8667877715,1092742.3961217103,1098206.1081023188,1103697.1386428303,1109215.6243360445,1114761.7024577248,1120335.5109700134,1120335.5109700134,1120335.5109700134,1120335.5109700134,1120335.5109700134,1120335.5109700134]
[null,null,"Add Funding",null,null,{"$f":"F28","v":1050000}]
[null,null,"Add Interest During Construction",null,null,{"$f":"F42","v":0},{"$f":"G42","v":5250},5276.25,5302.6312500000004,5329.1444062500004,5355.7901282812509,5382.5690789226574,5409.4819243172706,5436.5293339388572,5463.711980608552,5491.0305405115942,5518.485693214152,5546.0781216802225,5573.8085122886241,0,0,0,0,0,0]
[null,null,"Closing Balance",null,null,{"$f":"IF(F34,F37+F38+F39,E40)","v":1050000},{"$f":"IF(G34,G37+G38+G39,F40)","v":1055250},1060526.25,1065828.8812500001,1071158.0256562501,1076513.8157845314,1081896.3848634542,1087305.8667877715,1092742.3961217103,1098206.1081023188,1103697.1386428303,1109215.6243360445,1114761.7024577248,1120335.5109700134,1120335.5109700134,1120335.5109700134,1120335.5109700134,1120335.5109700134,1120335.5109700134,1120335.5109700134]
[]
[null,null,"Interest",null,{"$f":"F31","v":5.0000000000000001E-3},{"$f":"F37*$E$42*F34","v":0},{"$f":"G37*$E$42*G34","v":5250},5276.25,5302.6312500000004,5329.1444062500004,5355.7901282812509,5382.5690789226574,5409.4819243172706,5436.5293339388572,5463.711980608552,5491.0305405115942,5518.485693214152,5546.0781216802225,5573.8085122886241,0,0,0,0,0,0]
[null,null,"Total Interest During Construction",null,{"$f":"SUM(F42:Y42)","v":70335.510970013172}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,0.03]
[null,"Kwartaal","BoY","Aflossing","EoY","Interest",null,"Jaar","BoY","Aflossing","EoY","Interest","Effective %"]
[null,1,750000,{"$f":"-($C$65/60)","v":-12500},{"$f":"C65+D65","v":737500},{"$f":"C65*$F$63/4","v":5625},null,1,{"$f":"C65","v":750000},{"$f":"K65-I65","v":-50000},{"$f":"I66","v":700000},{"$f":"SUM(OFFSET($F$65,4*(H65-1),0):OFFSET($F$68,4*(H65-1),0))","v":21937.5},{"$f":"L65/I65","v":2.9250000000000002E-2}]
[null,{"$f":"B65+1","v":2},{"$f":"E65","v":737500},{"$f":"-($C$65/60)","v":-12500},{"$f":"C66+D66","v":725000},{"$f":"C66*$F$63/4","v":5531.25},null,{"$f":"H65+1","v":2},{"$f":"OFFSET($C$65,4*(H66-1),0)","v":700000},{"$f":"K66-I66","v":-50000},{"$f":"I67","v":650000},{"$f":"SUM(OFFSET($F$65,4*(H66-1),0):OFFSET($F$68,4*(H66-1),0))","v":20437.5},{"$f":"L66/I66","v":2.9196428571428571E-2}]
[null,{"$f":"B66+1","v":3},{"$f":"E66","v":725000},{"$f":"-($C$65/60)","v":-12500},{"$f":"C67+D67","v":712500},5437.5,null,{"$f":"H66+1","v":3},{"$f":"OFFSET($C$65,4*(H67-1),0)","v":650000},-50000,600000,{"$f":"SUM(OFFSET($F$65,4*(H67-1),0):OFFSET($F$68,4*(H67-1),0))","v":18937.5},2.9134615384615384E-2]
[null,4,712500,-12500,700000,5343.75,null,4,600000,-50000,550000,{"$f":"SUM(OFFSET($F$65,4*(H68-1),0):OFFSET($F$68,4*(H68-1),0))","v":17437.5},2.9062500000000002E-2]
[null,5,700000,-12500,687500,5250,null,5,550000,-50000,500000,{"$f":"SUM(OFFSET($F$65,4*(H69-1),0):OFFSET($F$68,4*(H69-1),0))","v":15937.5},2.8977272727272727E-2]
[null,6,687500,-12500,675000,5156.25,null,6,500000,-50000,450000,{"$f":"SUM(OFFSET($F$65,4*(H70-1),0):OFFSET($F$68,4*(H70-1),0))","v":14437.5},2.8875000000000001E-2]
[null,7,675000,-12500,662500,5062.5,null,7,450000,-50000,400000,{"$f":"SUM(OFFSET($F$65,4*(H71-1),0):OFFSET($F$68,4*(H71-1),0))","v":12937.5},2.8750000000000001E-2]
[null,8,662500,-12500,650000,4968.75,null,8,400000,-50000,350000,{"$f":"SUM(OFFSET($F$65,4*(H72-1),0):OFFSET($F$68,4*(H72-1),0))","v":11437.5},2.8593750000000001E-2]
[null,9,650000,-12500,637500,4875,null,9,350000,-50000,300000,{"$f":"SUM(OFFSET($F$65,4*(H73-1),0):OFFSET($F$68,4*(H73-1),0))","v":9937.5},2.8392857142857143E-2]
[null,10,637500,-12500,625000,4781.25,null,10,300000,-50000,250000,{"$f":"SUM(OFFSET($F$65,4*(H74-1),0):OFFSET($F$68,4*(H74-1),0))","v":8437.5},2.8125000000000001E-2]
[null,11,625000,-12500,612500,4687.5,null,11,250000,-50000,200000,{"$f":"SUM(OFFSET($F$65,4*(H75-1),0):OFFSET($F$68,4*(H75-1),0))","v":6937.5},2.775E-2]
[null,12,612500,-12500,600000,4593.75,null,12,200000,-50000,150000,{"$f":"SUM(OFFSET($F$65,4*(H76-1),0):OFFSET($F$68,4*(H76-1),0))","v":5437.5},2.71875E-2]
[null,13,600000,-12500,587500,4500,null,13,150000,-50000,100000,{"$f":"SUM(OFFSET($F$65,4*(H77-1),0):OFFSET($F$68,4*(H77-1),0))","v":3937.5},2.6249999999999999E-2]
[null,14,587500,-12500,575000,4406.25,null,14,100000,-50000,50000,{"$f":"SUM(OFFSET($F$65,4*(H78-1),0):OFFSET($F$68,4*(H78-1),0))","v":2437.5},2.4375000000000001E-2]
[null,15,575000,-12500,562500,4312.5,null,15,50000,-50000,0,{"$f":"SUM(OFFSET($F$65,4*(H79-1),0):OFFSET($F$68,4*(H79-1),0))","v":937.5},1.8749999999999999E-2]
[null,16,562500,-12500,550000,4218.75,null,null,null,null,null,{"$f":"SUM(L65:L79)","v":171562.5},{"$f":"AVERAGE(M65:M79)","v":2.7511328255078252E-2}]
[null,17,550000,-12500,537500,4125]
[null,18,537500,-12500,525000,4031.25]
[null,19,525000,-12500,512500,3937.5]
[null,20,512500,-12500,500000,3843.75]
[null,21,500000,-12500,487500,3750]
[null,22,487500,-12500,475000,3656.25]
[null,23,475000,-12500,462500,3562.5]
[null,24,462500,-12500,450000,3468.75]
[null,25,450000,-12500,437500,3375]
[null,26,437500,-12500,425000,3281.25]
[null,27,425000,-12500,412500,3187.5]
[null,28,412500,-12500,400000,3093.75]
[null,29,400000,-12500,387500,3000]
[null,30,387500,-12500,375000,2906.25]
[null,31,375000,-12500,362500,2812.5]
[null,32,362500,-12500,350000,2718.75]
[null,33,350000,-12500,337500,2625]
[null,34,337500,-12500,325000,2531.25]
[null,35,325000,-12500,312500,2437.5]
[null,36,312500,-12500,300000,2343.75]
[null,37,300000,-12500,287500,2250]
[null,38,287500,-12500,275000,2156.25]
[null,39,275000,-12500,262500,2062.5]
[null,40,262500,-12500,250000,1968.75]
[null,41,250000,-12500,237500,1875]
[null,42,237500,-12500,225000,1781.25]
[null,43,225000,-12500,212500,1687.5]
[null,44,212500,-12500,200000,1593.75]
[null,45,200000,-12500,187500,1500]
[null,46,187500,-12500,175000,1406.25]
[null,47,175000,-12500,162500,1312.5]
[null,48,162500,-12500,150000,1218.75]
[null,49,150000,-12500,137500,1125]
[null,{"$f":"B113+1","v":50},137500,-12500,125000,1031.25]
[null,51,125000,-12500,112500,937.5]
[null,52,112500,-12500,100000,843.75]
[null,53,100000,-12500,87500,750]
[null,{"$f":"B117+1","v":54},87500,-12500,75000,656.25]
[null,55,75000,-12500,62500,562.5]
[null,56,62500,-12500,50000,468.75]
[null,{"$f":"B120+1","v":57},50000,-12500,37500,375]
[null,58,37500,-12500,25000,281.25]
[null,{"$f":"B122+1","v":59},25000,-12500,12500,187.5]
[null,60,12500,-12500,0,93.75]

{"sheet":"Kosten & Scenario's","index":3,"n_rows":65,"n_cols":18,"rows_kept":65,"cut":false,"hidden":false,"merged":[[22,8,27,23]]}
[null,null,null,null,null,null,null,null,null,null,"Currently on minimum"]
[]
[null,null,"I",null,"Waarde assets",null,"[EUR]",null,"Scenario analyse De Burg op investeringsruimte capex I",null,null,null,null,null,null,null,null,3]
[null,null,"a",null,"Asfaltcollector","Kodi",432000,null,null,null,"koude","inkoop elektra"]
[null,null,null,null,"capex II",null,{"$f":"SUM(G4)","v":432000},null,1,"minimaal",51840,254038,null,{"$f":"L5/K5","v":4.9004243827160492}]
[null,null,"b",null,"De Burg + TR","Kodi",1800000,null,2,"nominaal",57600,282264,null,{"$f":"L6/K6","v":4.9004166666666666}]
[null,null,"c",null,"Stammis","Kodi",70000,null,3,"maximaal",72000,352830,null,{"$f":"L7/K7","v":4.9004166666666666}]
[]
[null,null,null,null,null,null,null,null,null,null,{"$f":"INDEX(K5:K7,$R$3)","v":72000},{"$f":"INDEX(L5:L7,$R$3)","v":352830}]
[null,null,"d"]
[null,null,"d",null,null,null,null,"E",null,"beschikbaar gesteld vermogen koude",5300,null,null,4.9004166666666702]
[null,null,null,null,"totaal capex I",null,{"$f":"SUM(G6:G11)","v":1870000}]
[null,null,null,null,"total capex",null,{"$f":"G5+G12","v":2302000}]
[null,null,null,null,null,null,null,null,"Scenario analyse De Burg op investeringsruimte capex I"]
[null,null,null,null,"transactiekosten",null,null,null,"-","rente aandeelhouderslening",0.1]
[null,null,null,1,"Juridische zaken","West Advocaten",10379,null,"-","rente juniorlening",7.4999999999999997E-2]
[null,null,null,2,"Notaris (begroot)","Van Putten van Apeldoorn",5000,"E","-","looptijd junior lening",8]
[null,null,null,3,"Juridische zaken","Octo Consilium",5000,"E"]
[null,null,null,4,"fee financiering","DuurzaamInvesteren",21000,null,"Scenario analyse op DSCR senior loan"]
[null,null,null,5,"fee financiering","Escoplan",10500,null,"-","10% wanbetaling over een periode van 5 jaar"]
[null,null,null,6,"fee financiering",null,5000,"E","-","electriciteitsprijs veranderingen:"]
[null,null,null,7,"arrangement, advies, JZ","via ESCO2Service",45000]
[null,null,null,8,"rentekosten ESCO2Service","7% p.a. (107k-45k)",4340,null,"De gevoeligheid van de Burg case voor ontwikkelingen op de elektriciteitsmarkt is laag. Bij een stijgende elektriciteitsprijs stijgt de kostprijs voor de geleverde koude.  Bij dalende prijzen daalt de kostprijs. De ontwikkeling van de energieprijzen werkt door in de CBS index, waardoor de inkomsten mee bewegen met de kostprijs ontwikkeling. In deze scenario analyse is alleen een stijgende kostprijs doorgerekend. De CBS index is op 1,5% per jaar blijven staan, gelijk aan de base case. Dit is een conservatieve (stress) aanname. In de praktijk bewegen de inkomsten mee met de ontwikkelingen op de energiemarkt."]
[null,null,null,9,"afsluitprovisie","ASN Bank (1%)",10500,"E"]
[null,null,null,10,"rentekosten bouwdepot","ASN Bank (0,5%)",5250,"E"]
[null,null,null,null,"totaal",null,{"$f":"SUM(G16:G25)","v":121969}]
[]
[null,null,"II",null,"Rentevergoeding","[%]"]
[null,null,"a",null,"Kodi",0]
[null,null,"b",null,"SAUND",0]
[null,null,"c",null,"ASN Bank",3.4000000000000002E-2]
[]
[null,null,"III",null,"Managementfee",null,"[EUR]"]
[null,null,"a",null,"ESCO2Service",0.02,45000]
[]
[null,null,"IV",null,"Managementvergoeding","[%]"]
[null,null,null,null,"SAUND / KODI",5.0000000000000001E-3]
[]
[null,null,"V",null,"Beheervergoeding","[%]"]
[null,null,null,null,"SAUND",0.01]
[]
[null,null,"VI",null,"M&V vergoeding","[%]"]
[null,null,null,null,"SAUND",3.0000000000000001E-3]
[]
[null,null,"VII",null,"Financieringsfee","[%]"]
[null,null,null,null,"Escoplan",0.01,10500]
[null,null,null,null,"DuurzaamInvesteren",0.02,21000]
[null,null,null,null,"Overig",null,"N.T.B."]
[]
[null,null,"VIII",null,"Aanneemsom installatie","[EUR]"]
[null,null,"a",null,"Asfaltcollector",null,432000]
[null,null,"b",null,"De Burg, TR, Stammis",null,1870000]
[]
[null,null,"IX",null,"Onderhoudskosten","[%]"]
[null,null,null,null,null,0.03]
[]
[null,null,"X",null,"Investering deelproject",null,"[EUR]"]
[]
[]
[null,null,"XI",null,"Ontwikkelfee basis","[%]"]
[null,null,null,null,null,0.01]
[]
[null,null,"XII",null,"Ontwikkelfee deelproject","[%]"]
[null,null,null,null,null,0.03]
[null,null,null,null,null,0.03]