Financial Modeling

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Financial Modeling

Financial models provide guidance in complex decision-making situations. They highlight profitability, cash flow trends, and financing structures; translate assumptions into robust scenarios; and support decisions in areas such as corporate strategy, M&A transactions, and financing.

Our Financial Modeling Services support you throughout the entire process—from integrated business planning to liquidity and transaction models, as well as management reporting and independent model reviews. We place particular emphasis on transparent structures, high robustness, and practical applicability.

Together, we identify the key value drivers, map out financing and cash flow effects, and develop models that are transparent, verifiable, and usable over the long term. Our approach combines in-depth expertise with pragmatic implementation—serving as the foundation for planning, management, and strategic decision-making.

Our Services in Financial Modeling

Transaction Modeling

For M&A transactions, we provide support using precise transaction models that clearly highlight opportunities, risks, and synergies. This creates a reliable basis for decision-making for both buyers and sellers, enabling the successful execution of transactions. We work closely with our experienced M&A team to consistently integrate commercial, financial, and structural aspects. In addition, we prepare financial factbooks in which historical financial information, earnings quality, working capital, and net financial debt are presented in a format tailored to the intended audience—serving as a data-driven foundation for transaction models, negotiations, and investment decisions.

Our Focus Areas:

Analysis and quantification of key value drivers and synergies
Modeling the transaction target in carve-outs
Evaluation of transaction scenarios
Integrated multi-year planning as the basis for business valuations
Modeling of financing and capital measures

Business Plan Modeling

We support the informed preparation of financing decisions and ensure your strategic goals are clearly communicated. Structured business plan models provide a transparent basis for decision-making and strengthen your ability to persuade investors and financing partners. Our business plan models are suitable for traditional financing rounds and bank meetings, as well as for IPO readiness projects (e.g., developing the equity story and multi-year planning in the context of a stock market listing), strategic realignments, covenant and rating analyses, and the evaluation of investment and growth programs.

Our Focus Areas:

Preparation of integrated business plans (income statement, balance sheet, cash flow)
Development of financing scenarios and cash flow projections
Analysis of strategic options and growth prospects
Transparent documentation for investors and financing partners

Liquidity Planning

Our liquidity planning helps to keep track of your current financial situation on an ongoing basis. We develop reliable forecasts and identify potential cash flow gaps early on. This ensures you remain capable of taking action at all times and can make business decisions based on a solid foundation of data. For companies facing challenging special circumstances, we also integrate this planning into our Distressed Services (e.g., IDW-compliant liquidity and restructuring planning).

Our Focus Areas:

Weekly liquidity planning
Identification of liquidity bottlenecks
Cash flow analyses and forecasts
12–24-month liquidity planning (going concern forecast)

Model Audit and Model Review

We ensure that your financial models are structured correctly, are transparent, and are relevant to decision-making. Through structured model audits, we analyze the structure, logic, and consistency of your models, identify potential weaknesses, and provide specific recommendations for improvement. We apply these audits specifically where reliable figures are crucial—from distressed situations (e.g., as part of independent business reviews and restructuring reports) through financing and refinancing negotiations, M&A and investor processes (buy- and sell-side), financial factbooks, annual budgeting, and multi-year planning, as well as scenario analyses, all the way to the evaluation of investment projects.

Our Focus Areas:

Conducting model reviews
Reviewing structure, logic, and consistency
Validating planning assumptions
Optimizing model structure

Monitoring and Dashboarding

Today, companies are faced with increasingly complex processes and ever-growing volumes of data. We prepare figures tailored to the specific audience and create insightful dashboards to serve as the foundation for strategic decisions. Our management reporting provides transparency regarding performance, key KPIs, and operational results—clearly structured and easy to understand.

Our Focus Areas:

Development of insightful management reports
Preparation of key metrics for top management
Analysis and consolidation of operational and financial data
Clear and transparent decision-making frameworks
Support for strategy and management processes

Main Contact

Dr. Rainer Doll

Partner Advisory

Munich

+49 89 28646 2716

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Main Contact

Christian Hörmann

Partner Advisory

Munich

+49 89 28646 1886

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Main Contact

Thomas Kuehl

Partner Advisory

Deal Advisor

Frankfurt

+49 (0) 151 55977264

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Frequently Asked Questions About Financial Modeling

What is integrated business planning, and how does it differ from pure profit planning?

Integrated planning links the income statement, balance sheet, and cash flow statement in a closed-loop model in which every assumption is consistently applied across all three financial statements. Isolated profit planning shows only the revenue side and excludes working capital requirements, investments, and financing effects. Only by linking these elements can one determine whether a plan is also viable from a liquidity perspective.

Is Excel sufficient for financial planning, or is specialized software needed?

Excel remains the most flexible tool for custom transaction and valuation models, as long as the structure is well-organized and clearly documented. Things become critical when dealing with multiple companies, numerous version histories, and recurring consolidation, as this increases the risk of errors. What matters most is not the tool itself, but the model’s logic, robustness, and verifiability.

What is the purpose of a model review, and when is it useful?

A model review examines the structure, logic, and consistency of an existing model and identifies calculation errors, circular references, and implausible assumptions before they influence decision-making. It is useful in any situation where reliable figures have an immediate impact, such as in financing and investor discussions, restructuring plans, or prior to a transaction. An independent review reduces the risk of costly misjudgments.

How detailed should a financial model be?

The level of detail depends on the purpose and data availability, not on the maximum amount of effort required. A transaction model requires robust value drivers and scenarios, whereas an operational control model requires greater granularity in revenue and costs. Too much detail increases the likelihood of errors and the maintenance effort without improving the model’s informative value.

What is the difference between a transaction model and a business plan model?

A transaction model maps out the purchase price mechanics, financing structure, and synergies of a specific transaction and serves as a basis for decision-making for buyers and sellers. A business plan model projects the company’s development over several years and is intended for investors and financing partners. Both are based on integrated planning but are aimed at different audiences and have different objectives.

Further topics you could be interested in

M&A Strategy

Due Diligence

Valuation

Distressed Situations & Restructuring Services

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