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l component =-$C$47*D29 =-$C$47*E29 =-$C$47*F29 =-$C$47*G29 =-$C$47*H29 =-$C$47*I29 =-$C$47*J29 =-$C$47*K29 =-$C$47*L29 =-$C$47*M29 =-$C$47*N29 =-$C$47*O29 =-$C$47*P29 =-$C$47*Q29 =-$C$47*R29 =-$C$47*S29 =-$C$47*T29 =-$C$47*U29 =-$C$47*V29 =-$C$47*W29 (1.4) One-off and other temporary measures =-D13 =-E13 =-F13 =-G13 =-H13 =-I13 =-J13 =-K13 =-L13 =-M13 =-N13 =-O13 =-P13 =-Q13 =-R13 =-S13 =-T13 =-U13 =-V13 =-W13 (1.5) Cost of ageing =IF(D$55<=$C$5,0,HLOOKUP(D$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(E$55<=$C$5,0,HLOOKUP(E$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(F$55<=$C$5,0,HLOOKUP(F$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(G$55<=$C$5,0,HLOOKUP(G$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(H$55<=$C$5,0,HLOOKUP(H$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(I$55<=$C$5,0,HLOOKUP(I$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(J$55<=$C$5,0,HLOOKUP(J$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(K$55<=$C$5,0,HLOOKUP(K$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(L$55<=$C$5,0,HLOOKUP(L$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(M$55<=$C$5,0,HLOOKUP(M$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(N$55<=$C$5,0,HLOOKUP(N$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(O$55<=$C$5,0,HLOOKUP(O$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(P$55<=$C$5,0,HLOOKUP(P$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(Q$55<=$C$5,0,HLOOKUP(Q$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(R$55<=$C$5,0,HLOOKUP(R$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(S$55<=$C$5,0,HLOOKUP(S$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(T$55<=$C$5,0,HLOOKUP(T$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(U$55<=$C$5,0,HLOOKUP(U$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(V$55<=$C$5,0,HLOOKUP(V$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) =IF(W$55<=$C$5,0,HLOOKUP(W$55,'Input data'!$C$9:$BB$26,12,FALSE)-HLOOKUP($C$5,'Input data'!$C$9:$BB$26,12,FALSE)) (1.6) Property incomes =IF(D$55<=$C$5,0,-HLOOKUP(D$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(E$55<=$C$5,0,-HLOOKUP(E$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(F$55<=$C$5,0,-HLOOKUP(F$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(G$55<=$C$5,0,-HLOOKUP(G$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(H$55<=$C$5,0,-HLOOKUP(H$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(I$55<=$C$5,0,-HLOOKUP(I$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(J$55<=$C$5,0,-HLOOKUP(J$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(K$55<=$C$5,0,-HLOOKUP(K$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(L$55<=$C$5,0,-HLOOKUP(L$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(M$55<=$C$5,0,-HLOOKUP(M$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(N$55<=$C$5,0,-HLOOKUP(N$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(O$55<=$C$5,0,-HLOOKUP(O$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(P$55<=$C$5,0,-HLOOKUP(P$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(Q$55<=$C$5,0,-HLOOKUP(Q$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(R$55<=$C$5,0,-HLOOKUP(R$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(S$55<=$C$5,0,-HLOOKUP(S$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(T$55<=$C$5,0,-HLOOKUP(T$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(U$55<=$C$5,0,-HLOOKUP(U$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(V$55<=$C$5,0,-HLOOKUP(V$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) =IF(W$55<=$C$5,0,-HLOOKUP(W$55,'Input data'!$C$9:$BB$26,18,FALSE)+HLOOKUP($C$5,'Input data'!$C$9:$BB$26,18,FALSE)) (1.7) Revenues 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (2) Snowball effect (2.1 + 2.2 + 2.3) =SUM(D67:D70) =SUM(E67:E70) =SUM(F67:F70) =SUM(G67:G70) =SUM(H67:H70) =SUM(I67:I70) =SUM(J67:J70) =SUM(K67:K70) =SUM(L67:L70) =SUM(M67:M70) =SUM(N67:N70) =SUM(O67:O70) =SUM(P67:P70) =SUM(Q67:Q70) =SUM(R67:R70) =SUM(S67:S70) =SUM(T67:T70) =SUM(U67:U70) =SUM(V67:V70) =SUM(W67:W70) (2.1) Interest expenditure =C56*D35/100*(1/(1+D32/100)) =D56*E35/100*(1/(1+E32/100)) =E56*F35/100*(1/(1+F32/100)) =F56*G35/100*(1/(1+G32/100)) =G56*H35/100*(1/(1+H32/100)) =H56*I35/100*(1/(1+I32/100)) =I56*J35/100*(1/(1+J32/100)) =J56*K35/100*(1/(1+K32/100)) =K56*L35/100*(1/(1+L32/100)) =L56*M35/100*(1/(1+M32/100)) =M56*N35/100*(1/(1+N32/100)) =N56*O35/100*(1/(1+O32/100)) =O56*P35/100*(1/(1+P32/100)) =P56*Q35/100*(1/(1+Q32/100)) =Q56*R35/100*(1/(1+R32/100)) =R56*S35/100*(1/(1+S32/100)) =S56*T35/100*(1/(1+T32/100)) =T56*U35/100*(1/(1+U32/100)) =U56*V35/100*(1/(1+V32/100)) =V56*W35/100*(1/(1+W32/100)) (2.2) Growth effect =-C56*(D23/100)*(1/(1+D32/100)) =-D56*(E23/100)*(1/(1+E32/100)) =-E56*(F23/100)*(1/(1+F32/100)) =-F56*(G23/100)*(1/(1+G32/100)) =-G56*(H23/100)*(1/(1+H32/100)) =-H56*(I23/100)*(1/(1+I32/100)) =-I56*(J23/100)*(1/(1+J32/100)) =-J56*(K23/100)*(1/(1+K32/100)) =-K56*(L23/100)*(1/(1+L32/100)) =-L56*(M23/100)*(1/(1+M32/100)) =-M56*(N23/100)*(1/(1+N32/100)) =-N56*(O23/100)*(1/(1+O32/100)) =-O56*(P23/100)*(1/(1+P32/100)) =-P56*(Q23/100)*(1/(1+Q32/100)) =-Q56*(R23/100)*(1/(1+R32/100)) =-R56*(S23/100)*(1/(1+S32/100)) =-S56*(T23/100)*(1/(1+T32/100)) =-T56*(U23/100)*(1/(1+U32/100)) =-U56*(V23/100)*(1/(1+V32/100)) =-V56*(W23/100)*(1/(1+W32/100)) (2.3) Inflation effect =-C56*D41/100*(1/(1+D41/100)) =-D56*E41/100*(1/(1+E41/100)) =-E56*F41/100*(1/(1+F41/100)) =-F56*G41/100*(1/(1+G41/100)) =-G56*H41/100*(1/(1+H41/100)) =-H56*I41/100*(1/(1+I41/100)) =-I56*J41/100*(1/(1+J41/100)) =-J56*K41/100*(1/(1+K41/100)) =-K56*L41/100*(1/(1+L41/100)) =-L56*M41/100*(1/(1+M41/100)) =-M56*N41/100*(1/(1+N41/100)) =-N56*O41/100*(1/(1+O41/100)) =-O56*P41/100*(1/(1+P41/100)) =-P56*Q41/100*(1/(1+Q41/100)) =-Q56*R41/100*(1/(1+R41/100)) =-R56*S41/100*(1/(1+S41/100)) =-S56*T41/100*(1/(1+T41/100)) =-T56*U41/100*(1/(1+U41/100)) =-U56*V41/100*(1/(1+V41/100)) =-V56*W41/100*(1/(1+W41/100)) (2.4) Exchange rate effect linked to the interest rate 0.017796473202734 -0.00081967546517259 0.0086873276307258 0.00099411289929008 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (3 ) Stock flow adjustments (3.1 + 3.2) ='Input data'!D16 ='Input data'!E16 ='Input data'!F16 ='Input data'!G16 ='Input data'!H16 ='Input data'!I16 ='Input data'!J16 ='Input data'!K16 ='Input data'!L16 ='Input data'!M16 ='Input data'!N16 ='Input data'!O16 ='Input data'!P16 ='Input data'!Q16 ='Input data'!R16 ='Input data'!S16 ='Input data'!T16 ='Input data'!U16 ='Input data'!V16 ='Input data'!W16 (3.1) Base =D14 =E14 =F14 =G14 =H14 =I14 =J14 =K14 =L14 =M14 =N14 =O14 =P14 =Q14 =R14 =S14 =T14 =U14 =V14 =W14 (3.2) Adjustment due to the exchange rate effect linked to debt value =+D71-D72 =+E71-E72 =+F71-F72 =+G71-G72 =+H71-H72 =+I71-I72 =+J71-J72 =+K71-K72 =+L71-L72 =+M71-M72 =+N71-N72 =+O71-O72 =+P71-P72 =+Q71-Q72 =+R71-R72 =+S71-S72 =+T71-T72 =+U71-U72 =+V71-V72 =+W71-W72 Other budgetary variables Headline balance =D58-D67 =E58-E67 =F58-F67 =G58-G67 =H58-H67 =I58-I67 =J58-J67 =K58-K67 =L58-L67 =M58-M67 =N58-N67 =O58-O67 =P58-P67 =Q58-Q67 =R58-R67 =S58-S67 =T58-T67 =U58-U67 =V58-V67 =W58-W67 Structural balance =D59-D67-D63-D64-D65 =E59-E67-E63-E64-E65 =F59-F67-F63-F64-F65 =G59-G67-G63-G64-G65 =H59-H67-H63-H64-H65 =I59-I67-I63-I64-I65 =J59-J67-J63-J64-J65 =K59-K67-K63-K64-K65 =L59-L67-L63-L64-L65 =M59-M67-M63-M64-M65 =N59-N67-N63-N64-N65 =O59-O67-O63-O64-O65 =P59-P67-P63-P64-P65 =Q59-Q67-Q63-Q64-Q65 =R59-R67-R63-R64-R65 =S59-S67-S63-S64-S65 =T59-T67-T63-T64-T65 =U59-U67-U63-U64-U65 =V59-V67-V63-V64-V65 =W59-W67-W63-W64-W65 Net expenditure growth ='Input data'!D45 ='Input data'!E45 ='Input data'!F45 ='Input data'!G33+G41-(G$12-F$12)/'Input data'!$C$64*100 ='Input data'!H33+H41-(H$12-G$12)/'Input data'!$C$64*100 ='Input data'!I33+I41-(I$12-H$12)/'Input data'!$C$64*100 ='Input data'!J33+J41-(J$12-I$12)/'Input data'!$C$64*100 ='Input data'!K33+K41-(K$12-J$12)/'Input data'!$C$64*100 ='Input data'!L33+L41-(L$12-K$12)/'Input data'!$C$64*100 ='Input data'!M33+M41-(M$12-L$12)/'Input data'!$C$64*100 ='Input data'!N33+N41-(N$12-M$12)/'Input data'!$C$64*100 ='Input data'!O33+O41-(O$12-N$12)/'Input data'!$C$64*100 ='Input data'!P33+P41-(P$12-O$12)/'Input data'!$C$64*100 ='Input data'!Q33+Q41-(Q$12-P$12)/'Input data'!$C$64*100 ='Input data'!R33+R41-(R$12-Q$12)/'Input data'!$C$64*100 ='Input data'!S33+S41-(S$12-R$12)/'Input data'!$C$64*100 ='Input data'!T33+T41-(T$12-S$12)/'Input data'!$C$64*100 ='Input data'!U33+U41-(U$12-T$12)/'Input data'!$C$64*100 ='Input data'!V33+V41-(V$12-U$12)/'Input data'!$C$64*100 ='Input data'!W33+W41-(W$12-V$12)/'Input data'!$C$64*100 Debt decomposition and IIR Auxiliary variable identifying whether debt is increasing =IF((D87-C87*D42/((1+D23/100)*(1+D41/100)))>0,1,0) =IF((E87-D87*E42/((1+E23/100)*(1+E41/100)))>0,1,0) =IF((F87-E87*F42/((1+F23/100)*(1+F41/100)))>0,1,0) =IF((G87-F87*G42/((1+G23/100)*(1+G41/100)))>0,1,0) =IF((H87-G87*H42/((1+H23/100)*(1+H41/100)))>0,1,0) =IF((I87-H87*I42/((1+I23/100)*(1+I41/100)))>0,1,0) =IF((J87-I87*J42/((1+J23/100)*(1+J41/100)))>0,1,0) =IF((K87-J87*K42/((1+K23/100)*(1+K41/100)))>0,1,0) =IF((L87-K87*L42/((1+L23/100)*(1+L41/100)))>0,1,0) =IF((M87-L87*M42/((1+M23/100)*(1+M41/100)))>0,1,0) =IF((N87-M87*N42/((1+N23/100)*(1+N41/100)))>0,1,0) =IF((O87-N87*O42/((1+O23/100)*(1+O41/100)))>0,1,0) =IF((P87-O87*P42/((1+P23/100)*(1+P41/100)))>0,1,0) =IF((Q87-P87*Q42/((1+Q23/100)*(1+Q41/100)))>0,1,0) =IF((R87-Q87*R42/((1+R23/100)*(1+R41/100)))>0,1,0) =IF((S87-R87*S42/((1+S23/100)*(1+S41/100)))>0,1,0) =IF((T87-S87*T42/((1+T23/100)*(1+T41/100)))>0,1,0) =IF((U87-T87*U42/((1+U23/100)*(1+U41/100)))>0,1,0) =IF((V87-U87*V42/((1+V23/100)*(1+V41/100)))>0,1,0) =IF((W87-V87*W42/((1+W23/100)*(1+W41/100)))>0,1,0) Auxiliary variable identifying whether some debt is rolled over even though debt is decreasing =IF(AND(D83=0,ABS(D87-C87*D42/((1+D23/100)*(1+D41/100)))<((C93*C87*D42/((1+D23/100)*(1+D41/100))+(D38*C87*C94*D42/((1+D23/100)*(1+D41/100)))))),1,0) =IF(AND(E83=0,ABS(E87-D87*E42/((1+E23/100)*(1+E41/100)))<((D93*D87*E42/((1+E23/100)*(1+E41/100))+(E38*D87*D94*E42/((1+E23/100)*(1+E41/100)))))),1,0) =IF(AND(F83=0,ABS(F87-E87*F42/((1+F23/100)*(1+F41/100)))<((E93*E87*F42/((1+F23/100)*(1+F41/100))+(F38*E87*E94*F42/((1+F23/100)*(1+F41/100)))))),1,0) =IF(AND(G83=0,ABS(G87-F87*G42/((1+G23/100)*(1+G41/100)))<((F93*F87*G42/((1+G23/100)*(1+G41/100))+(G38*F87*F94*G42/((1+G23/100)*(1+G41/100)))))),1,0) =IF(AND(H83=0,ABS(H87-G87*H42/((1+H23/100)*(1+H41/100)))<((G93*G87*H42/((1+H23/100)*(1+H41/100))+(H38*G87*G94*H42/((1+H23/100)*(1+H41/100)))))),1,0) =IF(AND(I83=0,ABS(I87-H87*I42/((1+I23/100)*(1+I41/100)))<((H93*H87*I42/((1+I23/100)*(1+I41/100))+(I38*H87*H94*I42/((1+I23/100)*(1+I41/100)))))),1,0) =IF(AND(J83=0,ABS(J87-I87*J42/((1+J23/100)*(1+J41/100)))<((I93*I87*J42/((1+J23/100)*(1+J41/100))+(J38*I87*I94*J42/((1+J23/100)*(1+J41/100)))))),1,0) =IF(AND(K83=0,ABS(K87-J87*K42/((1+K23/100)*(1+K41/100)))<((J93*J87*K42/((1+K23/100)*(1+K41/100))+(K38*J87*J94*K42/((1+K23/100)*(1+K41/100)))))),1,0) =IF(AND(L83=0,ABS(L87-K87*L42/((1+L23/100)*(1+L41/100)))<((K93*K87*L42/((1+L23/100)*(1+L41/100))+(L38*K87*K94*L42/((1+L23/100)*(1+L41/100)))))),1,0) =IF(AND(M83=0,ABS(M87-L87*M42/((1+M23/100)*(1+M41/100)))<((L93*L87*M42/((1+M23/100)*(1+M41/100))+(M38*L87*L94*M42/((1+M23/100)*(1+M41/100)))))),1,0) =IF(AND(N83=0,ABS(N87-M87*N42/((1+N23/100)*(1+N41/100)))<((M93*M87*N42/((1+N23/100)*(1+N41/100))+(N38*M87*M94*N42/((1+N23/100)*(1+N41/100)))))),1,0) =IF(AND(O83=0,ABS(O87-N87*O42/((1+O23/100)*(1+O41/100)))<((N93*N87*O42/((1+O23/100)*(1+O41/100))+(O38*N87*N94*O42/((1+O23/100)*(1+O41/100)))))),1,0) =IF(AND(P83=0,ABS(P87-O87*P42/((1+P23/100)*(1+P41/100)))<((O93*O87*P42/((1+P23/100)*(1+P41/100))+(P38*O87*O94*P42/((1+P23/100)*(1+P41/100)))))),1,0) =IF(AND(Q83=0,ABS(Q87-P87*Q42/((1+Q23/100)*(1+Q41/100)))<((P93*P87*Q42/((1+Q23/100)*(1+Q41/100))+(Q38*P87*P94*Q42/((1+Q23/100)*(1+Q41/100)))))),1,0) =IF(AND(R83=0,ABS(R87-Q87*R42/((1+R23/100)*(1+R41/100)))<((Q93*Q87*R42/((1+R23/100)*(1+R41/100))+(R38*Q87*Q94*R42/((1+R23/100)*(1+R41/100)))))),1,0) =IF(AND(S83=0,ABS(S87-R87*S42/((1+S23/100)*(1+S41/100)))<((R93*R87*S42/((1+S23/100)*(1+S41/100))+(S38*R87*R94*S42/((1+S23/100)*(1+S41/100)))))),1,0) =IF(AND(T83=0,ABS(T87-S87*T42/((1+T23/100)*(1+T41/100)))<((S93*S87*T42/((1+T23/100)*(1+T41/100))+(T38*S87*S94*T42/((1+T23/100)*(1+T41/100)))))),1,0) =IF(AND(U83=0,ABS(U87-T87*U42/((1+U23/100)*(1+U41/100)))<((T93*T87*U42/((1+U23/100)*(1+U41/100))+(U38*T87*T94*U42/((1+U23/100)*(1+U41/100)))))),1,0) =IF(AND(V83=0,ABS(V87-U87*V42/((1+V23/100)*(1+V41/100)))<((U93*U87*V42/((1+V23/100)*(1+V41/100))+(V38*U87*U94*V42/((1+V23/100)*(1+V41/100)))))),1,0) =IF(AND(W83=0,ABS(W87-V87*W42/((1+W23/100)*(1+W41/100)))<((V93*V87*W42/((1+W23/100)*(1+W41/100))+(W38*V87*V94*W42/((1+W23/100)*(1+W41/100)))))),1,0) 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 Gross debt =C56 =D56 =E56 =F56 =G56 =G87*(1+H101/100)*H42-H59-H60+H61+H62+H63+H64+H65+H71 =H87*(1+I101/100)*I42-I59-I60+I61+I62+I63+I64+I65+I71 =I87*(1+J101/100)*J42-J59-J60+J61+J62+J63+J64+J65+J71 =J87*(1+K101/100)*K42-K59-K60+K61+K62+K63+K64+K65+K71 =K87*(1+L101/100)*L42-L59-L60+L61+L62+L63+L64+L65+L71 =L87*(1+M101/100)*M42-M59-M60+M61+M62+M63+M64+M65+M71 =M87*(1+N101/100)*N42-N59-N60+N61+N62+N63+N64+N65+N71 =N87*(1+O101/100)*O42-O59-O60+O61+O62+O63+O64+O65+O71 =O87*(1+P101/100)*P42-P59-P60+P61+P62+P63+P64+P65+P71 =P87*(1+Q101/100)*Q42-Q59-Q60+Q61+Q62+Q63+Q64+Q65+Q71 =Q87*(1+R101/100)*R42-R59-R60+R61+R62+R63+R64+R65+R71 =R87*(1+S101/100)*S42-S59-S60+S61+S62+S63+S64+S65+S71 =S87*(1+T101/100)*T42-T59-T60+T61+T62+T63+T64+T65+T71 =T87*(1+U101/100)*U42-U59-U60+U61+U62+U63+U64+U65+U71 =U87*(1+V101/100)*V42-V59-V60+V61+V62+V63+V64+V65+V71 =V87*(1+W101/100)*W42-W59-W60+W61+W62+W63+W64+W65+W71 Of which Outstanding debt ='Input data'!C66*$D$87 =IF(E87=0,0,IF(E83=1,D87*E42/((1+E23/100)*(1+E41/100))-E89-E90,IF(AND(E83=0,E84=1),(1-D93-E38*D94)*D87*E42/((1+E23/100)*(1+E41/100)),E87))) =IF(F87=0,0,IF(F83=1,E87*F42/((1+F23/100)*(1+F41/100))-F89-F90,IF(AND(F83=0,F84=1),(1-E93-F38*E94)*E87*F42/((1+F23/100)*(1+F41/100)),F87))) =IF(G87=0,0,IF(G83=1,F87*G42/((1+G23/100)*(1+G41/100))-G89-G90,IF(AND(G83=0,G84=1),(1-F93-G38*F94)*F87*G42/((1+G23/100)*(1+G41/100)),G87))) =IF(H87=0,0,IF(H83=1,G87*H42/((1+H23/100)*(1+H41/100))-H89-H90,IF(AND(H83=0,H84=1),(1-G93-H38*G94)*G87*H42/((1+H23/100)*(1+H41/100)),H87))) =IF(I87=0,0,IF(I83=1,H87*I42/((1+I23/100)*(1+I41/100))-I89-I90,IF(AND(I83=0,I84=1),(1-H93-I38*H94)*H87*I42/((1+I23/100)*(1+I41/100)),I87))) =IF(J87=0,0,IF(J83=1,I87*J42/((1+J23/100)*(1+J41/100))-J89-J90,IF(AND(J83=0,J84=1),(1-I93-J38*I94)*I87*J42/((1+J23/100)*(1+J41/100)),J87))) =IF(K87=0,0,IF(K83=1,J87*K42/((1+K23/100)*(1+K41/100))-K89-K90,IF(AND(K83=0,K84=1),(1-J93-K38*J94)*J87*K42/((1+K23/100)*(1+K41/100)),K87))) =IF(L87=0,0,IF(L83=1,K87*L42/((1+L23/100)*(1+L41/100))-L89-L90,IF(AND(L83=0,L84=1),(1-K93-L38*K94)*K87*L42/((1+L23/100)*(1+L41/100)),L87))) =IF(M87=0,0,IF(M83=1,L87*M42/((1+M23/100)*(1+M41/100))-M89-M90,IF(AND(M83=0,M84=1),(1-L93-M38*L94)*L87*M42/((1+M23/100)*(1+M41/100)),M87))) =IF(N87=0,0,IF(N83=1,M87*N42/((1+N23/100)*(1+N41/100))-N89-N90,IF(AND(N83=0,N84=1),(1-M93-N38*M94)*M87*N42/((1+N23/100)*(1+N41/100)),N87))) =IF(O87=0,0,IF(O83=1,N87*O42/((1+O23/100)*(1+O41/100))-O89-O90,IF(AND(O83=0,O84=1),(1-N93-O38*N94)*N87*O42/((1+O23/100)*(1+O41/100)),O87))) =IF(P87=0,0,IF(P83=1,O87*P42/((1+P23/100)*(1+P41/100))-P89-P90,IF(AND(P83=0,P84=1),(1-O93-P38*O94)*O87*P42/((1+P23/100)*(1+P41/100)),P87))) =IF(Q87=0,0,IF(Q83=1,P87*Q42/((1+Q23/100)*(1+Q41/100))-Q89-Q90,IF(AND(Q83=0,Q84=1),(1-P93-Q38*P94)*P87*Q42/((1+Q23/100)*(1+Q41/100)),Q87))) =IF(R87=0,0,IF(R83=1,Q87*R42/((1+