hi mondyinvest the figure you provided below were based on the...

hi mondyinvest the figure you provided below were based on the quarterly 4C ie cash receipts from customers.

You are working on the assumption that all cash receipts is equivalent to sales.

When vection say received 10% down payment after signing the contract that 10% will reflect in the quarterly 4C report as cash receipts from customer at the quarter in which it was received.

However, it will still not be recorded as Sale in the P&L. It will be booked as Liability in the BS ie Deferred Income. Only when Vection delivered the goods or provided the service they will book it as Sale.

Conversely when Vection delivered goods/completed the services they will recognised the Sale in the P&L even if there is no cash payments from customer. These payments will reflect in the Quarterly 4C in which cash payment were received but the Sale may have already book in the previous quarter (when it was delivered/completed)

You have to consider that cash payments have varying terms depending on how the customer negotiate them. VIP customer can milk the terms eg. payments will be made 30 to 45 Days after delivery/completion of tranche 1

These are the timing differences and would pretty much explain the fluctuations in your example which were broken down per quarter

if you sum up the sale and production cost you will exactly arrived the YTD figure provided by Vection

Cash Receipts - 14,011
Prod Cost - 9,404
GP - 4,607 32%