patterns / overtrading

credit thesis

Overtrading

headcount up ≥25% YoY while cash fell ≥30% and creditors rose — growing faster than it can finance itself; a textbook working-capital borrower

the signature — what the register must show
headcount +25% YoY
cash ≤70% of last year
creditors up YoY
staff ≥5

Why it matters

Growth outrunning its financing: hiring fast, burning cash, leaning on suppliers. The healthiest company on this list — and the one most likely to hit a wall without working capital.

The play

A textbook working-capital facility. The borrower is growing and fundamentally sound; the need is obvious and the timing is now.

How it's kept honest

The badge is recomputed nightly across the whole index, and re-evaluated live the moment a company files — so a match is always a statement about the current register, not a stale list. Like every signal on the radar: a prompt to look closer, never a verdict.