Quick-scan cash flow forecast of a supplier of mobility products for the elderly

This company is offering mobility products, such as stair elevators, house elevators, bathroom solutions, and mobility scooters to the elderly to enable them to stay independent in their own homes for a longer period. The company has grown to a factory-independent mobility specialist with sales offices in the Netherlands, Belgium, France, and Germany. After a period of positive results, in 2017 and 2018 losses have occurred, which have deteriorated the equity and liquidity of the Company. This was mainly attributable to the implementation of a new activity, where bathrooms were refurbished within a day, to make them suitable for elderly people. The loss making situation was discovered quite late, since the financial reporting systems were not in place properly. In cooperation with their accountant, the company has developed a cash flow forecast for 2020 which has been shared with the bank. Due to the poor financial reporting by the company, the bank asked the company to hire an independent consultancy firm to validate the cash flow forecast by means of a quick-scan. Beaufort helped the company identify additional challenges that where not previously considered for in the forecasts.

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