diff --git a/pitch-deck/app/api/chat/route.ts b/pitch-deck/app/api/chat/route.ts
index 5709156..f274842 100644
--- a/pitch-deck/app/api/chat/route.ts
+++ b/pitch-deck/app/api/chat/route.ts
@@ -1,5 +1,6 @@
 import { NextRequest, NextResponse } from 'next/server'
 import pool from '@/lib/db'
+import { getSessionFromCookie } from '@/lib/auth'
 import { SLIDE_ORDER } from '@/lib/slide-order'
 
 const LITELLM_URL = process.env.LITELLM_URL || 'https://llm-dev.meghsakha.com'
@@ -34,7 +35,8 @@ const SLIDE_DISPLAY_NAMES: Record<string, { de: string; en: string }> = {
 
 const slideCount = SLIDE_ORDER.length
 
-const SYSTEM_PROMPT = `# Investor Agent — BreakPilot ComplAI
+// Static prefix: Identität through Kernbotschaft #8 — #9 and VERSIONS-ISOLATION injected at runtime
+const SYSTEM_PROMPT_PART1 = `# Investor Agent — BreakPilot ComplAI
 
 ## Identität
 Du bist der BreakPilot ComplAI Investor Relations Agent. Du beantwortest Fragen von
@@ -55,8 +57,10 @@ Du hast Zugriff auf alle Unternehmensdaten und zitierst immer konkrete Zahlen.
 5. EU-Infrastruktur: "BSI-zertifizierte Cloud in Deutschland oder Frankreich. 100% Datensouveränität. KEINE US-Anbieter. Isolierte Namespaces."
 6. Zielgruppen: "Maschinen- und Anlagenbauer, Automobilindustrie, Zulieferer und alle produzierenden Unternehmen."
 7. Geschäftsmodell: "SaaS, mitarbeiterbasiertes Pricing. Drei Tiers: Starter (3.600 EUR/Jahr), Professional (15.000-40.000 EUR/Jahr), Enterprise (ab 50.000 EUR/Jahr). Plus Beratung & Service (10.000-30.000 EUR/Monat). Kunden sparen mehr als sie zahlen — ROI ab Tag 1."
-8. Team: "Lean-Team: 2 Gründer + 7 Mitarbeiter bis 2030 (9 Personen gesamt). Erste Einstellung: IT-Recht/Datenschutzjurist (50%). Dann: Security Engineer, Vertrieb, Backend, Kundenbetreuer, Marketing, DevOps. Jede Einstellung an konkreten Umsatzmeilenstein gekoppelt."
-9. Finanzplan: "Gründung August 2026. Pre-Seed über Wandeldarlehen (200.000 EUR: 40.000 Investor + 160.000 L-Bank). ~195 Kunden und ~3,3 Mio. Umsatz bis 2030. 9 Mitarbeiter. Optionale 2. Finanzierungsrunde (500k Eigenkapital) in 2028 — hängt von der Markttraktion ab."
+8. Team: "Lean-Team: 2 Gründer + 7 Mitarbeiter bis 2030 (9 Personen gesamt). Erste Einstellung: IT-Recht/Datenschutzjurist (50%). Dann: Security Engineer, Vertrieb, Backend, Kundenbetreuer, Marketing, DevOps. Jede Einstellung an konkreten Umsatzmeilenstein gekoppelt."`
+
+// Static middle: Kommunikationsstil — injected between #9 and VERSIONS-ISOLATION
+const SYSTEM_PROMPT_PART2 = `
 
 ## Kommunikationsstil
 - Antworte IMMER wie ein Mensch in einem persönlichen Gespräch — ausformulierte Sätze, natürlicher Redefluss
@@ -65,14 +69,10 @@ Du hast Zugriff auf alle Unternehmensdaten und zitierst immer konkrete Zahlen.
 - Nutze Übergangssätze wie "Der Grund dafür ist...", "Das haben wir bewusst so entschieden, weil...", "Besonders wichtig ist dabei..."
 - Zahlen und Fakten natürlich in den Text einbetten, nicht als Liste aufreihen
 - 3-5 Absätze pro Antwort, jeder Absatz ein eigenständiger Gedanke
-- Der Text muss sich gut anhören wenn er vorgelesen wird (TTS-optimiert)
+- Der Text muss sich gut anhören wenn er vorgelesen wird (TTS-optimiert)`
 
-## VERSIONS-ISOLATION (ABSOLUT KRITISCH)
-- Du kennst NUR die Wandeldarlehen-Version mit 200.000 EUR Finanzierung.
-- Es gibt KEINE andere Version. Es gibt KEINE 1-Mio-Version.
-- Wenn nach anderen Versionen, anderen Investoren oder anderen Pitch Decks gefragt wird: "Dieses Pitch Deck wurde individuell für Sie erstellt. Es gibt nur diese Version."
-- NIEMALS erwähnen: andere Finanzierungssummen, andere Bewertungen, andere Cap Tables.
-- Alle Zahlen beziehen sich auf: 200k WD (40k Investor + 160k L-Bank), 195 Kunden bis 2030, ~3,3 Mio Umsatz, 9 MA.
+// Static suffix: everything after VERSIONS-ISOLATION
+const SYSTEM_PROMPT_PART3 = `
 
 ## IP-Schutz-Layer (KRITISCH)
 NIEMALS offenbaren: Exakte Modellnamen, Frameworks, Code-Architektur, Datenbankschema, Sicherheitsdetails, Cloud-Provider.
@@ -106,7 +106,7 @@ EXAKTES FORMAT (keine Abweichung erlaubt):
 
 KONKRETES BEISPIEL einer vollständigen Antwort:
 
-"Unser AI-First-Ansatz ermöglicht Skalierung ohne lineares Personalwachstum. Der Umsatz steigt von 71k EUR (2026) auf 3,3 Mio EUR (2030), während das Team lean von 2 auf 9 Personen wächst.
+"Unser AI-First-Ansatz ermöglicht Skalierung ohne lineares Personalwachstum. Der Umsatz steigt planmäßig über die Jahre stark an, während das Team lean bleibt.
 
 ---
 [Q] Wie sieht die Kostenstruktur im Detail aus?
@@ -115,8 +115,125 @@ KONKRETES BEISPIEL einer vollständigen Antwort:
 
 WICHTIG: Vergiss NIEMALS die Folgefragen! Sie sind PFLICHT.`
 
-async function loadPitchContext(): Promise<string> {
+async function loadFpLiquiditaetSummary(scenarioName: string): Promise<string> {
   try {
+    const { rows } = await pool.query(
+      `SELECT l.row_label, l.values
+       FROM fp_liquiditaet l
+       JOIN fp_scenarios s ON s.id = l.scenario_id
+       WHERE s.name = $1
+         AND l.row_label IN ('LIQUIDITÄT', 'LIQUIDITAET', 'Summe ERTRÄGE', 'Summe EINZAHLUNGEN', 'Summe AUSZAHLUNGEN', 'ÜBERSCHUSS')
+       ORDER BY l.sort_order`,
+      [scenarioName]
+    )
+    if (rows.length === 0) {
+      if (scenarioName) console.warn('[chat] loadFpLiquiditaetSummary: no rows for scenario', JSON.stringify(scenarioName))
+      return ''
+    }
+
+    const years = [2026, 2027, 2028, 2029, 2030]
+    const summary: Record<string, Record<number, number>> = {}
+    for (const row of rows) {
+      const label = row.row_label === 'LIQUIDITAET' ? 'LIQUIDITÄT' : row.row_label
+      summary[label] = {}
+      for (let yi = 0; yi < years.length; yi++) {
+        const start = yi * 12 + 1
+        const end = start + 11
+        // LIQUIDITÄT is a balance (end-of-period): use December value
+        if (label === 'LIQUIDITÄT') {
+          summary[label][years[yi]] = Math.round(row.values[`m${end}`] || 0)
+        } else {
+          let s = 0
+          for (let m = start; m <= end; m++) s += row.values[`m${m}`] || 0
+          summary[label][years[yi]] = Math.round(s)
+        }
+      }
+    }
+
+    const lines = [`### Finanzplan-Liquidität (Szenario: ${scenarioName})`]
+    for (const [label, yearVals] of Object.entries(summary)) {
+      const vals = years.map(y => `${y}: ${(yearVals[y] || 0).toLocaleString('de-DE')} EUR`).join(' | ')
+      lines.push(`${label}: ${vals}`)
+    }
+    return lines.join('\n')
+  } catch {
+    return ''
+  }
+}
+
+interface VersionMeta {
+  versionName: string
+  scenarioName: string
+  fundingAmount: number
+  fundingInstrument: string
+  customers2030: number
+  revenue2030: number
+  employees2030: number
+}
+
+interface PitchContextResult {
+  contextString: string
+  meta: VersionMeta
+}
+
+const DEFAULT_META: VersionMeta = {
+  versionName: '', scenarioName: '', fundingAmount: 0,
+  fundingInstrument: 'Wandeldarlehen', customers2030: 0, revenue2030: 0, employees2030: 0,
+}
+
+function extractMeta(
+  versionName: string,
+  fmScenarios: Array<{ name: string }> | undefined,
+  funding: Record<string, unknown> | null,
+  financials: Array<Record<string, unknown>>
+): VersionMeta {
+  const fin2030 = financials.find(f => Number(f.year) === 2030) ?? {}
+  return {
+    versionName,
+    scenarioName: fmScenarios?.[0]?.name ?? versionName,
+    fundingAmount: Number(funding?.amount_eur ?? 0),
+    fundingInstrument: String(funding?.instrument ?? 'Wandeldarlehen'),
+    customers2030: Number(fin2030.customers_count ?? 0),
+    revenue2030: Number(fin2030.revenue_eur ?? 0),
+    employees2030: Number(fin2030.employees_count ?? 0),
+  }
+}
+
+async function loadPitchContext(versionId?: string | null): Promise<PitchContextResult> {
+  try {
+    // Version-specific data path
+    if (versionId) {
+      const [vDataRes, vNameRes] = await Promise.all([
+        pool.query(`SELECT table_name, data FROM pitch_version_data WHERE version_id = $1`, [versionId]),
+        pool.query(`SELECT name FROM pitch_versions WHERE id = $1`, [versionId]),
+      ])
+
+      const map: Record<string, unknown> = {}
+      for (const r of vDataRes.rows) {
+        map[r.table_name] = typeof r.data === 'string' ? JSON.parse(r.data) : r.data
+      }
+
+      const company = (map.company as unknown[])?.[0] ?? null
+      const team = (map.team as unknown[]) ?? []
+      const financials = (map.financials as Array<Record<string, unknown>>) ?? []
+      const market = (map.market as unknown[]) ?? []
+      const products = (map.products as unknown[]) ?? []
+      const funding = ((map.funding as unknown[])?.[0] as Record<string, unknown>) ?? null
+      const features = ((map.features as Array<Record<string, unknown>>) ?? [])
+        .filter(f => f.is_differentiator)
+      const fmScenarios = map.fm_scenarios as Array<{ name: string }> | undefined
+
+      const versionName = vNameRes.rows[0]?.name ?? ''
+      const meta = extractMeta(versionName, fmScenarios, funding, financials)
+      const fpSummary = meta.scenarioName ? await loadFpLiquiditaetSummary(meta.scenarioName) : ''
+
+      return {
+        contextString: buildContextString(company, team, financials, market, products, funding, features, fpSummary),
+        meta,
+      }
+    }
+
+    // Fallback: base tables
     const client = await pool.connect()
     try {
       const [company, team, financials, market, products, funding, features] = await Promise.all([
@@ -128,59 +245,117 @@ async function loadPitchContext(): Promise<string> {
         client.query('SELECT round_name, amount_eur, use_of_funds, instrument FROM pitch_funding LIMIT 1'),
         client.query('SELECT feature_name_de, breakpilot, proliance, dataguard, heydata, is_differentiator FROM pitch_features WHERE is_differentiator = true'),
       ])
-
-      return `
-## Unternehmensdaten (für präzise Antworten nutzen)
-
-### Firma
-${JSON.stringify(company.rows[0], null, 2)}
-
-### Team
-${JSON.stringify(team.rows, null, 2)}
-
-### Finanzprognosen (5-Jahres-Plan)
-${JSON.stringify(financials.rows, null, 2)}
-
-### Markt (TAM/SAM/SOM)
-${JSON.stringify(market.rows, null, 2)}
-
-### Produkte
-${JSON.stringify(products.rows, null, 2)}
-
-### Finanzierung
-${JSON.stringify(funding.rows[0], null, 2)}
-
-### Differenzierende Features (nur bei ComplAI)
-${JSON.stringify(features.rows, null, 2)}
-`
+      const meta = extractMeta('', undefined, funding.rows[0] ?? null, financials.rows)
+      return {
+        contextString: buildContextString(
+          company.rows[0], team.rows, financials.rows, market.rows,
+          products.rows, funding.rows[0], features.rows, ''
+        ),
+        meta,
+      }
     } finally {
       client.release()
     }
   } catch (error) {
     console.warn('Could not load pitch context from DB:', error)
-    return ''
+    return { contextString: '', meta: DEFAULT_META }
   }
 }
 
+function buildContextString(
+  company: unknown, team: unknown, financials: unknown, market: unknown,
+  products: unknown, funding: unknown, features: unknown, fpSummary: string
+): string {
+  return `
+## Unternehmensdaten (für präzise Antworten nutzen)
+
+### Firma
+${JSON.stringify(company, null, 2)}
+
+### Team
+${JSON.stringify(team, null, 2)}
+
+### Finanzprognosen (5-Jahres-Plan)
+${JSON.stringify(financials, null, 2)}
+
+### Markt (TAM/SAM/SOM)
+${JSON.stringify(market, null, 2)}
+
+### Produkte
+${JSON.stringify(products, null, 2)}
+
+### Finanzierung
+${JSON.stringify(funding, null, 2)}
+
+### Differenzierende Features (nur bei ComplAI)
+${JSON.stringify(features, null, 2)}
+${fpSummary ? '\n' + fpSummary : ''}
+`
+}
+
 export async function POST(request: NextRequest) {
   try {
     const body = await request.json()
-    const { message, history = [], lang = 'de', slideContext, faqContext } = body
+    const { message, history = [], lang: langParam = 'de', slideContext, faqContext } = body
+    const lang: 'de' | 'en' = langParam === 'en' ? 'en' : 'de'
 
     if (!message || typeof message !== 'string') {
       return NextResponse.json({ error: 'Message is required' }, { status: 400 })
     }
 
-    const pitchContext = await loadPitchContext()
+    // Resolve investor's assigned version so the AI sees the correct scenario data
+    let versionId: string | null = null
+    try {
+      const session = await getSessionFromCookie()
+      if (session?.sub) {
+        const inv = await pool.query(
+          `SELECT assigned_version_id FROM pitch_investors WHERE id = $1`,
+          [session.sub]
+        )
+        versionId = inv.rows[0]?.assigned_version_id ?? null
+      }
+    } catch {
+      // Non-fatal: fall back to base tables
+    }
 
-    let systemContent = SYSTEM_PROMPT
-    if (pitchContext) {
-      systemContent += '\n' + pitchContext
+    const { contextString, meta } = await loadPitchContext(versionId)
+
+    // Build dynamic VERSIONS-ISOLATION and Kernbotschaft #9 from actual version data
+    const fmt = (n: number) => n.toLocaleString('de-DE')
+    const revM = meta.revenue2030 > 0
+      ? `~${(meta.revenue2030 / 1_000_000).toFixed(1).replace('.', ',')} Mio. EUR`
+      : 'laut Finanzplan'
+    const fundingStr = meta.fundingAmount > 0
+      ? `${fmt(meta.fundingAmount)} EUR ${meta.fundingInstrument}`
+      : meta.fundingInstrument
+    const customersStr = meta.customers2030 > 0 ? `~${meta.customers2030} Kunden` : 'laut Finanzplan'
+    const employeesStr = meta.employees2030 > 0 ? `${meta.employees2030} Mitarbeiter` : 'laut Finanzplan'
+
+    const dynamicVersionIsolation = `## VERSIONS-ISOLATION (ABSOLUT KRITISCH)
+- Es gibt NUR dieses eine Pitch Deck. Es wurde individuell für diesen Investor erstellt.
+- Wenn gefragt wird ob es andere Versionen, andere Pitch Decks oder andere Konditionen gibt: "Dieses Pitch Deck wurde persönlich für Sie erstellt. Es gibt genau dieses."
+- NIEMALS Begriffe wie "Version", "Szenario", "Variante" oder "diese Version" verwenden — das impliziert, es könnte andere geben.
+- NIEMALS erwähnen: andere Finanzierungssummen, andere Bewertungen, andere Cap Tables, andere Szenarien.
+- Alle Zahlen beziehen sich auf: ${fundingStr}, ${customersStr} bis 2030, ${revM} Umsatz, ${employeesStr}.`
+
+    const dynamicFinanzplanKernbotschaft = `9. Finanzplan: "Gründung August 2026. Pre-Seed über ${fundingStr}. ${customersStr} und ${revM} Umsatz bis 2030. ${employeesStr}."`
+
+    let systemContent = SYSTEM_PROMPT_PART1
+      + '\n' + dynamicFinanzplanKernbotschaft
+      + SYSTEM_PROMPT_PART2
+      + '\n\n' + dynamicVersionIsolation
+      + SYSTEM_PROMPT_PART3
+
+    if (contextString) {
+      systemContent += '\n' + contextString
     }
 
     // FAQ context: relevant pre-researched answers as basis for the LLM
+    // IMPORTANT: FAQ entries contain hardcoded numbers written for specific scenarios.
+    // They are hints only — the version-specific Unternehmensdaten above always take precedence.
     if (faqContext && typeof faqContext === 'string') {
       systemContent += '\n' + faqContext
+      systemContent += '\n\n## Versions-Datenvorrang (ABSOLUT VERBINDLICH)\nWenn die vorrecherchierten Antworten oben Zahlen, Beträge oder Details nennen, die von den "Unternehmensdaten" oder dem "Finanzplan-Liquidität" weiter oben abweichen, haben die Unternehmensdaten IMMER Vorrang. Die FAQ-Antworten sind allgemein formuliert und könnten veraltete oder szenario-fremde Zahlen enthalten. Nutze sie nur für Struktur und Formulierung — die konkreten Zahlen kommen ausschließlich aus den Unternehmensdaten dieses Investors.'
     }
 
     // Slide context for contextual awareness
@@ -236,7 +411,7 @@ export async function POST(request: NextRequest) {
 
     if (!llmResponse.ok) {
       const errorText = await llmResponse.text()
-      console.error('LiteLLM error:', llmResponse.status, errorText)
+      console.error('LiteLLM error:', llmResponse.status, errorText.slice(0, 200))
       return NextResponse.json(
         { error: `LLM nicht erreichbar (Status ${llmResponse.status}).` },
         { status: 502 }
@@ -295,7 +470,7 @@ export async function POST(request: NextRequest) {
             }
           }
         } catch (error) {
-          console.error('Stream read error:', error)
+          console.error('Stream read error:', (error as Error).message)
         } finally {
           controller.close()
         }
@@ -310,7 +485,7 @@ export async function POST(request: NextRequest) {
       },
     })
   } catch (error) {
-    console.error('Investor agent chat error:', error)
+    console.error('Investor agent chat error:', (error as Error).message)
     return NextResponse.json(
       { error: 'Verbindung zum LLM fehlgeschlagen.' },
       { status: 503 }
diff --git a/pitch-deck/app/api/data/route.ts b/pitch-deck/app/api/data/route.ts
index 58899d9..cffd15a 100644
--- a/pitch-deck/app/api/data/route.ts
+++ b/pitch-deck/app/api/data/route.ts
@@ -77,7 +77,7 @@ export async function GET() {
       client.release()
     }
   } catch (error) {
-    console.error('Database query error:', error)
+    console.error('Database query error:', (error as Error).message)
     // Return minimal stub in dev so the pitch renders without a DB connection
     if (process.env.NODE_ENV === 'development') {
       return NextResponse.json({
diff --git a/pitch-deck/app/api/financial-model/assumptions/route.ts b/pitch-deck/app/api/financial-model/assumptions/route.ts
index 3ac8d35..d34d5c6 100644
--- a/pitch-deck/app/api/financial-model/assumptions/route.ts
+++ b/pitch-deck/app/api/financial-model/assumptions/route.ts
@@ -1,8 +1,12 @@
 import { NextRequest, NextResponse } from 'next/server'
 import pool from '@/lib/db'
+import { validateAdminSecret } from '@/lib/auth'
 
-// PUT: Update a single assumption and trigger recompute
+// PUT: Update a single assumption — admin only
 export async function PUT(request: NextRequest) {
+  if (!validateAdminSecret(request)) {
+    return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+  }
   try {
     const body = await request.json()
     const { scenarioId, key, value } = body
diff --git a/pitch-deck/app/api/financial-model/route.ts b/pitch-deck/app/api/financial-model/route.ts
index 4dc7f30..7e971e5 100644
--- a/pitch-deck/app/api/financial-model/route.ts
+++ b/pitch-deck/app/api/financial-model/route.ts
@@ -1,6 +1,6 @@
 import { NextRequest, NextResponse } from 'next/server'
 import pool from '@/lib/db'
-import { getSessionFromCookie } from '@/lib/auth'
+import { getSessionFromCookie, validateAdminSecret } from '@/lib/auth'
 
 export const dynamic = 'force-dynamic'
 
@@ -67,8 +67,11 @@ export async function GET() {
   }
 }
 
-// POST: Create a new scenario
+// POST: Create a new scenario — admin only
 export async function POST(request: NextRequest) {
+  if (!validateAdminSecret(request)) {
+    return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+  }
   try {
     const body = await request.json()
     const { name, description, color, copyFrom } = body
diff --git a/pitch-deck/app/api/finanzplan/[sheetName]/route.ts b/pitch-deck/app/api/finanzplan/[sheetName]/route.ts
index 6a32155..6893af9 100644
--- a/pitch-deck/app/api/finanzplan/[sheetName]/route.ts
+++ b/pitch-deck/app/api/finanzplan/[sheetName]/route.ts
@@ -14,6 +14,30 @@ const TABLE_MAP: Record<string, string> = {
   guv: 'fp_guv',
 }
 
+// Whitelist of scalar columns that may be edited per table
+const SCALAR_COLUMNS_WHITELIST: Record<string, string[]> = {
+  fp_personalkosten: ['row_label', 'start_date', 'end_date', 'position', 'sort_order'],
+  fp_investitionen: ['row_label', 'sort_order', 'position'],
+  fp_betriebliche_aufwendungen: ['row_label', 'sort_order'],
+  fp_umsatzerloese: ['row_label', 'sort_order'],
+  fp_materialaufwand: ['row_label', 'sort_order'],
+  fp_liquiditaet: ['row_label', 'sort_order'],
+  fp_kunden: ['row_label', 'sort_order'],
+  fp_kunden_summary: ['row_label', 'sort_order'],
+  fp_sonst_ertraege: ['row_label', 'sort_order'],
+  fp_guv: ['row_label', 'sort_order'],
+}
+
+// Valid month key: m1 .. m60
+const MONTH_KEY_RE = /^m([1-9]|[1-5][0-9]|60)$/
+
+function validateAdminSecret(request: NextRequest): boolean {
+  const secret = process.env.PITCH_ADMIN_SECRET
+  if (!secret) return false
+  const auth = request.headers.get('authorization') ?? ''
+  return auth === `Bearer ${secret}`
+}
+
 export async function GET(
   request: NextRequest,
   { params }: { params: Promise<{ sheetName: string }> }
@@ -24,7 +48,9 @@ export async function GET(
     return NextResponse.json({ error: `Unknown sheet: ${sheetName}` }, { status: 400 })
   }
 
-  const scenarioId = request.nextUrl.searchParams.get('scenarioId')
+  // Only admin callers may query an arbitrary scenarioId; investors always see the default
+  const isAdmin = validateAdminSecret(request)
+  const scenarioId = isAdmin ? request.nextUrl.searchParams.get('scenarioId') : null
 
   try {
     let query = `SELECT * FROM ${table}`
@@ -42,8 +68,8 @@ export async function GET(
     return NextResponse.json({ sheet: sheetName, rows }, {
       headers: { 'Cache-Control': 'no-store' },
     })
-  } catch (error) {
-    return NextResponse.json({ error: String(error) }, { status: 500 })
+  } catch {
+    return NextResponse.json({ error: 'Query failed' }, { status: 500 })
   }
 }
 
@@ -51,6 +77,11 @@ export async function PUT(
   request: NextRequest,
   { params }: { params: Promise<{ sheetName: string }> }
 ) {
+  // C2: Admin-only — require PITCH_ADMIN_SECRET bearer token
+  if (!validateAdminSecret(request)) {
+    return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+  }
+
   const { sheetName } = await params
   const table = TABLE_MAP[sheetName]
   if (!table) {
@@ -59,33 +90,47 @@ export async function PUT(
 
   try {
     const body = await request.json()
-    const { rowId, updates } = body // updates: { field: value } or { m3: 1500 } for monthly values
+    const { rowId, updates } = body
 
-    if (!rowId) {
+    if (!rowId || typeof rowId !== 'string') {
       return NextResponse.json({ error: 'rowId required' }, { status: 400 })
     }
+    if (!updates || typeof updates !== 'object' || Array.isArray(updates)) {
+      return NextResponse.json({ error: 'updates object required' }, { status: 400 })
+    }
 
-    // Check if updating monthly values (JSONB) or scalar fields
-    const monthlyKeys = Object.keys(updates).filter(k => k.startsWith('m') && !isNaN(parseInt(k.substring(1))))
-    const scalarKeys = Object.keys(updates).filter(k => !k.startsWith('m') || isNaN(parseInt(k.substring(1))))
+    // C1: Separate and validate monthly vs scalar keys
+    const monthlyKeys = Object.keys(updates).filter(k => MONTH_KEY_RE.test(k))
+    const scalarKeys = Object.keys(updates).filter(k => !MONTH_KEY_RE.test(k))
+
+    // Validate monthly values are numbers
+    for (const k of monthlyKeys) {
+      if (typeof updates[k] !== 'number' && isNaN(Number(updates[k]))) {
+        return NextResponse.json({ error: `Invalid value for ${k}` }, { status: 400 })
+      }
+    }
 
     if (monthlyKeys.length > 0) {
-      // Update specific months in the values JSONB
-      const jsonbSet = monthlyKeys.map(k => `'${k}', '${updates[k]}'::jsonb`).join(', ')
       const valuesCol = sheetName === 'personalkosten' ? 'values_brutto' : 'values'
-      // Use jsonb_set for each key
-      let updateSql = `UPDATE ${table} SET `
-      const setClauses: string[] = []
+      // Build sanitized JSON patch object — no interpolation of user data into SQL
+      const patch: Record<string, number> = {}
       for (const k of monthlyKeys) {
-        setClauses.push(`${valuesCol} = jsonb_set(${valuesCol}, '{${k}}', '${updates[k]}')`)
+        patch[k] = Number(updates[k])
       }
-      setClauses.push(`updated_at = NOW()`)
-      updateSql += setClauses.join(', ') + ` WHERE id = $1`
-      await pool.query(updateSql, [rowId])
+      await pool.query(
+        `UPDATE ${table} SET ${valuesCol} = ${valuesCol} || $1::jsonb, updated_at = NOW() WHERE id = $2`,
+        [JSON.stringify(patch), rowId]
+      )
     }
 
     if (scalarKeys.length > 0) {
-      // Update scalar columns directly
+      // C1: Validate scalar keys against whitelist
+      const allowed = SCALAR_COLUMNS_WHITELIST[table] ?? []
+      for (const k of scalarKeys) {
+        if (!allowed.includes(k)) {
+          return NextResponse.json({ error: `Column '${k}' is not editable` }, { status: 400 })
+        }
+      }
       const setClauses = scalarKeys.map((k, i) => `${k} = $${i + 2}`).join(', ')
       await pool.query(
         `UPDATE ${table} SET ${setClauses}, updated_at = NOW() WHERE id = $1`,
@@ -93,10 +138,9 @@ export async function PUT(
       )
     }
 
-    // Return updated row
     const { rows } = await pool.query(`SELECT * FROM ${table} WHERE id = $1`, [rowId])
     return NextResponse.json({ updated: rows[0] })
-  } catch (error) {
-    return NextResponse.json({ error: String(error) }, { status: 500 })
+  } catch {
+    return NextResponse.json({ error: 'Update failed' }, { status: 500 })
   }
 }
diff --git a/pitch-deck/app/api/finanzplan/compute/route.ts b/pitch-deck/app/api/finanzplan/compute/route.ts
index 1e6df56..149cf44 100644
--- a/pitch-deck/app/api/finanzplan/compute/route.ts
+++ b/pitch-deck/app/api/finanzplan/compute/route.ts
@@ -1,8 +1,12 @@
 import { NextRequest, NextResponse } from 'next/server'
 import pool from '@/lib/db'
 import { computeFinanzplan } from '@/lib/finanzplan/engine'
+import { validateAdminSecret } from '@/lib/auth'
 
 export async function POST(request: NextRequest) {
+  if (!validateAdminSecret(request)) {
+    return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+  }
   try {
     const body = await request.json().catch(() => ({}))
     const scenarioId = body.scenarioId
@@ -33,6 +37,6 @@ export async function POST(request: NextRequest) {
     })
   } catch (error) {
     console.error('Finanzplan compute error:', error)
-    return NextResponse.json({ error: String(error) }, { status: 500 })
+    return NextResponse.json({ error: 'Compute failed' }, { status: 500 })
   }
 }
diff --git a/pitch-deck/app/api/finanzplan/route.ts b/pitch-deck/app/api/finanzplan/route.ts
index 953e6c7..f975aae 100644
--- a/pitch-deck/app/api/finanzplan/route.ts
+++ b/pitch-deck/app/api/finanzplan/route.ts
@@ -1,10 +1,18 @@
-import { NextResponse } from 'next/server'
+import { NextRequest, NextResponse } from 'next/server'
 import pool from '@/lib/db'
 import { SHEET_LIST } from '@/lib/finanzplan/types'
 
-export async function GET() {
+export async function GET(request: NextRequest) {
+  // Only expose scenario list to admin callers (bearer token)
+  const secret = process.env.PITCH_ADMIN_SECRET
+  const auth = request.headers.get('authorization') ?? ''
+  const isAdmin = secret && auth === `Bearer ${secret}`
+
   try {
-    const scenarios = await pool.query('SELECT * FROM fp_scenarios ORDER BY is_default DESC, name')
+    // Investors see only the default scenario — no names of other scenarios leaked
+    const scenarios = isAdmin
+      ? await pool.query('SELECT * FROM fp_scenarios ORDER BY is_default DESC, name')
+      : await pool.query('SELECT id FROM fp_scenarios WHERE is_default = true LIMIT 1')
 
     // Get row counts per sheet
     const sheets = await Promise.all(
diff --git a/pitch-deck/components/slides/MilestonesSlide.data.ts b/pitch-deck/components/slides/MilestonesSlide.data.ts
index 2468d07..0ff4f4d 100644
--- a/pitch-deck/components/slides/MilestonesSlide.data.ts
+++ b/pitch-deck/components/slides/MilestonesSlide.data.ts
@@ -1,4 +1,5 @@
 // MilestonesSlide data — extracted from MilestonesSlide.tsx
+// Contains: Milestone/StatItem interfaces, MILESTONES array, STATS array, TODAY_POSITION
 
 export const TODAY_POSITION = 0.56
 
@@ -19,7 +20,8 @@ export interface StatItem { k: { de: string; en: string }; v: string; tint: stri
 
 export const MILESTONES: Milestone[] = [
   {
-    id: 'ihk', when: 'Okt. 2025', tick: '10 \u00b7 25',
+    id: 'ihk',
+    when: 'Okt. 2025', tick: '10 \u00b7 25',
     title: { de: 'Gr\u00fcnderzuschuss & IHK', en: 'Founder Grant & IHK' },
     short: { de: 'Abstimmung mit Agentur f\u00fcr Arbeit und IHK Konstanz.', en: 'Coordination with Employment Agency and IHK Konstanz.' },
     body: {
@@ -33,7 +35,8 @@ export const MILESTONES: Milestone[] = [
     tint: '#a78bfa', done: true,
   },
   {
-    id: 'brand', when: '11. Nov. 2025', tick: '11 \u00b7 25',
+    id: 'brand',
+    when: '11. Nov. 2025', tick: '11 \u00b7 25',
     title: { de: 'Markenanmeldung & Domains', en: 'Trademark Filing & Domains' },
     short: { de: 'DPMA-Anmeldung BreakPilot + Domain-Portfolio.', en: 'DPMA filing BreakPilot + domain portfolio.' },
     body: {
@@ -47,7 +50,8 @@ export const MILESTONES: Milestone[] = [
     tint: '#a78bfa', done: true,
   },
   {
-    id: 'dev', when: 'Jan. 2026', tick: '01 \u00b7 26',
+    id: 'dev',
+    when: 'Jan. 2026', tick: '01 \u00b7 26',
     title: { de: 'Plattform-Entwicklung gestartet', en: 'Platform Development Started' },
     short: { de: '500.000+ Lines of Code, vollst\u00e4ndige Architektur.', en: '500,000+ lines of code, full architecture.' },
     body: {
@@ -61,7 +65,8 @@ export const MILESTONES: Milestone[] = [
     tint: '#c084fc', done: true,
   },
   {
-    id: 'dpma', when: '27. M\u00e4r. 2026', tick: '03 \u00b7 26',
+    id: 'dpma',
+    when: '27. M\u00e4r. 2026', tick: '03 \u00b7 26',
     title: { de: 'Markeneintragung DPMA', en: 'DPMA Trademark Registration' },
     short: { de: 'BreakPilot offiziell eingetragen.', en: 'BreakPilot officially registered.' },
     body: {
@@ -75,7 +80,8 @@ export const MILESTONES: Milestone[] = [
     tint: '#c084fc', done: true,
   },
   {
-    id: 'rag', when: 'Apr. 2026', tick: '04 \u00b7 26',
+    id: 'rag',
+    when: 'Apr. 2026', tick: '04 \u00b7 26',
     title: { de: 'RAG mit 375+ Dokumenten', en: 'RAG with 375+ Documents' },
     short: { de: 'EU + DACH Regularien indexiert.', en: 'EU + DACH regulations indexed.' },
     body: {
@@ -89,7 +95,8 @@ export const MILESTONES: Milestone[] = [
     tint: '#c084fc', done: true,
   },
   {
-    id: 'euipo', when: '1. Mai 2026', tick: '05 \u00b7 26',
+    id: 'euipo',
+    when: '1. Mai 2026', tick: '05 \u00b7 26',
     title: { de: 'Markenanmeldung EUIPO', en: 'EUIPO Trademark Filing' },
     short: { de: 'EU-weiter Markenschutz beantragt.', en: 'EU-wide trademark protection filed.' },
     body: {
@@ -103,7 +110,8 @@ export const MILESTONES: Milestone[] = [
     tint: '#fbbf24', done: false, next: true,
   },
   {
-    id: 'gmbh', when: 'Aug. 2026', tick: '08 \u00b7 26',
+    id: 'gmbh',
+    when: 'Aug. 2026', tick: '08 \u00b7 26',
     title: { de: 'GmbH-Gr\u00fcndung', en: 'GmbH Incorporation' },
     short: { de: 'Breakpilot COMPLAI GmbH gegr\u00fcndet.', en: 'Breakpilot COMPLAI GmbH incorporated.' },
     body: {
@@ -117,7 +125,8 @@ export const MILESTONES: Milestone[] = [
     tint: '#fbbf24', done: false,
   },
   {
-    id: 'customers', when: 'Aug. 2026', tick: '08 \u00b7 26',
+    id: 'customers',
+    when: 'Aug. 2026', tick: '08 \u00b7 26',
     title: { de: '2 zahlende Kunden', en: '2 Paying Customers' },
     short: { de: 'Erste Ums\u00e4tze ab Gr\u00fcndung.', en: 'First revenue from incorporation.' },
     body: {
@@ -131,7 +140,8 @@ export const MILESTONES: Milestone[] = [
     tint: '#fbbf24', done: false,
   },
   {
-    id: 'beta', when: 'Q3 2026', tick: 'Q3 \u00b7 26',
+    id: 'beta',
+    when: 'Q3 2026', tick: 'Q3 \u00b7 26',
     title: { de: '\u00d6ffentliches Beta', en: 'Public Beta' },
     short: { de: 'Beta-Launch mit ersten zahlenden Kunden.', en: 'Beta launch with first paying customers.' },
     body: {
diff --git a/pitch-deck/components/slides/MilestonesSlide.parts.tsx b/pitch-deck/components/slides/MilestonesSlide.parts.tsx
index 7f795f3..a1db13a 100644
--- a/pitch-deck/components/slides/MilestonesSlide.parts.tsx
+++ b/pitch-deck/components/slides/MilestonesSlide.parts.tsx
@@ -1,13 +1,8 @@
 'use client'
 
 import { useState, useEffect, useMemo } from 'react'
-import { type Milestone, type StatItem, MILESTONES, TODAY_POSITION } from './MilestonesSlide.data'
-import { type Theme } from './MilestonesSlide.themes'
-
-const MONO: React.CSSProperties = {
-  fontFamily: '"JetBrains Mono","SF Mono",ui-monospace,monospace',
-  fontVariantNumeric: 'tabular-nums',
-}
+import { type Milestone, type StatItem, MILESTONES, STATS, TODAY_POSITION } from './MilestonesSlide.data'
+import { type Theme, MONO } from './MilestonesSlide.themes'
 
 // ── Star Field ────────────────────────────────────────────────────────────────
 export function StarField() {
@@ -150,7 +145,7 @@ function MilestoneNode({ m, onClick, active, t, de }: {
   const bgTopA  = lit ? m.tint + t.cardTintTopH  : m.tint + t.cardTintTop
   const bgMidA  = lit ? m.tint + t.cardTintMidH  : m.tint + t.cardTintMid
   const cardBg  = `linear-gradient(180deg, ${bgTopA} 0%, ${bgMidA} 55%, ${t.cardBase}${lit ? t.cardBaseAH : t.cardBaseA})`
-  const badge   = m.done ? (de ? 'erledigt' : 'done') : (m.next ? (de ? 'als nächstes' : 'next') : (de ? 'geplant' : 'plan'))
+  const badge   = m.done ? (de ? 'erledigt' : 'done') : (m.next ? (de ? 'als n\u00e4chstes' : 'next') : (de ? 'geplant' : 'plan'))
 
   return (
     <>
@@ -175,7 +170,7 @@ function MilestoneNode({ m, onClick, active, t, de }: {
           transition: 'all .25s',
           transform: lit ? 'scale(1.15)' : 'scale(1)',
         }}>
-        {m.done ? '✓' : (m.next ? '◉' : '○')}
+        {m.done ? '\u2713' : (m.next ? '\u25c9' : '\u25cb')}
       </div>
 
       {/* card */}
@@ -224,7 +219,7 @@ function MilestoneNode({ m, onClick, active, t, de }: {
             opacity: lit ? 1 : 0.55,
             transform: `translateX(${lit ? 0 : -4}px)`,
             transition: 'all .25s',
-          }}>{de ? 'Details →' : 'Details →'}</span>
+          }}>{de ? 'Details \u2192' : 'Details \u2192'}</span>
         </div>
       </div>
     </>
@@ -292,7 +287,7 @@ export function DetailModal({ item, onClose, t, de }: {
   const tint = item.tint
   const badge = item.done
     ? (de ? 'ABGESCHLOSSEN' : 'COMPLETED')
-    : (item.next ? (de ? 'ALS NÄCHSTES' : 'NEXT UP') : (de ? 'GEPLANT' : 'PLANNED'))
+    : (item.next ? (de ? 'ALS N\u00c4CHSTES' : 'NEXT UP') : (de ? 'GEPLANT' : 'PLANNED'))
   const badgeColor = item.done ? t.done : tint
 
   return (
@@ -319,7 +314,7 @@ export function DetailModal({ item, onClose, t, de }: {
             display: 'flex', alignItems: 'center', justifyContent: 'center',
             color: t.key === 'light' ? tint : '#fff', fontSize: 17, fontWeight: 700,
             boxShadow: `0 0 20px ${tint}66`,
-          }}>{item.done ? '✓' : (item.next ? '◉' : '○')}</div>
+          }}>{item.done ? '\u2713' : (item.next ? '\u25c9' : '\u25cb')}</div>
           <div style={{ flex: 1 }}>
             <div style={{ display: 'flex', alignItems: 'center', gap: 10, marginBottom: 4 }}>
               <span style={{
@@ -337,7 +332,7 @@ export function DetailModal({ item, onClose, t, de }: {
           <button onClick={onClose} style={{
             background: 'transparent', border: `1px solid ${tint}66`, color: t.fg,
             width: 32, height: 32, borderRadius: 8, cursor: 'pointer', fontSize: 14,
-          }}>✕</button>
+          }}>{'\u2715'}</button>
         </div>
         <div style={{ fontSize: 13, lineHeight: 1.6, color: t.fgSoft, marginBottom: 16 }}>
           {de ? item.body.de : item.body.en}
@@ -350,7 +345,7 @@ export function DetailModal({ item, onClose, t, de }: {
               background: t.bulletBg, border: `1px solid ${tint}44`,
             }}>
               <span style={{ color: item.done ? t.done : tint, fontSize: 12, marginTop: 1 }}>
-                {item.done ? '✓' : '▸'}
+                {item.done ? '\u2713' : '\u25b8'}
               </span>
               <span style={{ fontSize: 12, lineHeight: 1.5, color: t.fgSoft }}>{b}</span>
             </div>
@@ -360,3 +355,87 @@ export function DetailModal({ item, onClose, t, de }: {
     </div>
   )
 }
+
+// ── Inner slide (fixed 1280x600) ─────────────────────────────────────────────
+export function MilestonesInner({ t, de, sel, setSel }: {
+  t: Theme; de: boolean
+  sel: Milestone | null
+  setSel: (m: Milestone | null) => void
+}) {
+  const doneCnt = useMemo(() => MILESTONES.filter(m => m.done).length, [])
+  const total = MILESTONES.length
+
+  return (
+    <div style={{
+      position: 'relative', width: 1280, height: 600, overflow: 'hidden',
+      background: t.bg, color: t.fg,
+      fontFamily: '"Inter", system-ui, sans-serif', WebkitFontSmoothing: 'antialiased',
+    }}>
+      {/* Ambient glow */}
+      <div style={{
+        position: 'absolute', top: -120, left: '50%', transform: 'translateX(-50%)',
+        width: 800, height: 500, borderRadius: '50%',
+        background: t.ambient, filter: 'blur(50px)', pointerEvents: 'none',
+      }} />
+
+      {t.stars ? <StarField /> : <SoftGrid t={t} />}
+
+      {/* Progress indicator */}
+      <div style={{
+        position: 'absolute', top: 36, right: 52, display: 'flex', alignItems: 'center', gap: 10, zIndex: 3,
+      }}>
+        <div style={{ ...MONO, fontSize: 10, letterSpacing: 2, color: t.fgMuted, textTransform: 'uppercase' as const, fontWeight: 700 }}>
+          {de ? 'Fortschritt' : 'Progress'}
+        </div>
+        <div style={{
+          width: 120, height: 6, background: t.progressTrackBg, borderRadius: 3, overflow: 'hidden',
+          border: `1px solid ${t.progressTrackBorder}`,
+        }}>
+          <div style={{
+            width: `${(doneCnt / total) * 100}%`, height: '100%',
+            background: `linear-gradient(90deg, ${t.done}, ${t.accent})`,
+            boxShadow: `0 0 12px ${t.done}99`,
+          }} />
+        </div>
+        <div style={{ ...MONO, fontSize: 11, color: t.fg, fontWeight: 700 }}>
+          <span style={{ color: t.done }}>{doneCnt}</span>
+          <span style={{ color: t.fgWhisper }}> / {total}</span>
+        </div>
+      </div>
+
+      {/* Tip */}
+      <div style={{
+        position: 'absolute', top: 36, left: 52, ...MONO, fontSize: 10,
+        letterSpacing: 2, color: t.fgGhost, textTransform: 'uppercase' as const, fontWeight: 700,
+        display: 'flex', alignItems: 'center', gap: 8, zIndex: 3,
+      }}>
+        <span>{de ? 'Tipp:' : 'Tip:'}</span>
+        <span style={{ color: t.accent70 }}>{de ? 'Klick auf einen Meilenstein' : 'Click any milestone'}</span>
+      </div>
+
+      {/* Timeline */}
+      <div style={{ position: 'relative', marginTop: 68 }}>
+        <Timeline onSelect={setSel} selectedId={sel?.id ?? null} t={t} de={de} />
+      </div>
+
+      {/* Stats */}
+      <div style={{
+        position: 'absolute', left: 40, right: 40, bottom: 36,
+        display: 'grid', gridTemplateColumns: 'repeat(5, 1fr)', gap: 14,
+      }}>
+        {STATS.map(s => <StatCard key={s.tint} item={s} t={t} de={de} />)}
+      </div>
+
+      {/* Footer */}
+      <div style={{
+        position: 'absolute', left: 0, right: 0, bottom: 14, textAlign: 'center',
+        ...MONO, fontSize: 9, letterSpacing: 3, color: t.accent40,
+        textTransform: 'uppercase' as const, fontWeight: 700,
+      }}>
+        {de ? 'Stand heute \u00b7 live-Metriken aus der Plattform' : 'As of today \u00b7 live metrics from the platform'}
+      </div>
+
+      <DetailModal item={sel} onClose={() => setSel(null)} t={t} de={de} />
+    </div>
+  )
+}
diff --git a/pitch-deck/components/slides/MilestonesSlide.themes.ts b/pitch-deck/components/slides/MilestonesSlide.themes.ts
index 17b5caf..2ed4599 100644
--- a/pitch-deck/components/slides/MilestonesSlide.themes.ts
+++ b/pitch-deck/components/slides/MilestonesSlide.themes.ts
@@ -1,4 +1,42 @@
 // MilestonesSlide themes — extracted from MilestonesSlide.tsx
+// Contains: THEMES, Theme type, useIsLight hook, MONO style, CSS_KF keyframes
+
+import { useState, useEffect } from 'react'
+
+export const MONO: React.CSSProperties = {
+  fontFamily: '"JetBrains Mono","SF Mono",ui-monospace,monospace',
+  fontVariantNumeric: 'tabular-nums',
+}
+
+export const CSS_KF = `
+  @keyframes msFlow { 0%{stroke-dashoffset:0} 100%{stroke-dashoffset:-18} }
+  @keyframes msFadeIn { from{opacity:0} to{opacity:1} }
+  @keyframes msScaleIn { from{opacity:0;transform:scale(.94)} to{opacity:1;transform:scale(1)} }
+  @keyframes msHeadingDark {
+    0%,100%{text-shadow:0 0 22px rgba(167,139,250,.3)}
+    50%    {text-shadow:0 0 40px rgba(167,139,250,.6)}
+  }
+  @keyframes msHeadingLight {
+    0%,100%{text-shadow:0 0 22px rgba(124,58,237,.15)}
+    50%    {text-shadow:0 0 36px rgba(124,58,237,.30)}
+  }
+  @keyframes msPulse {
+    0%,100%{r:9;opacity:.4}
+    50%    {r:14;opacity:.05}
+  }
+`
+
+export function useIsLight() {
+  const [isLight, setIsLight] = useState(false)
+  useEffect(() => {
+    const check = () => setIsLight(document.documentElement.classList.contains('theme-light'))
+    check()
+    const obs = new MutationObserver(check)
+    obs.observe(document.documentElement, { attributes: true, attributeFilter: ['class'] })
+    return () => obs.disconnect()
+  }, [])
+  return isLight
+}
 
 export const THEMES = {
   dark: {
@@ -103,4 +141,4 @@ export const THEMES = {
   },
 }
 
-export type Theme = typeof THEMES.dark
+export type Theme = typeof THEMES.dark | typeof THEMES.light
diff --git a/pitch-deck/components/slides/MilestonesSlide.tsx b/pitch-deck/components/slides/MilestonesSlide.tsx
index d8bd61f..03a865b 100644
--- a/pitch-deck/components/slides/MilestonesSlide.tsx
+++ b/pitch-deck/components/slides/MilestonesSlide.tsx
@@ -1,137 +1,15 @@
 'use client'
 
-import { useState, useEffect, useRef, useMemo, useCallback } from 'react'
+import { useState, useEffect, useRef, useCallback } from 'react'
 import { Language } from '@/lib/types'
 import GradientText from '../ui/GradientText'
 import FadeInView from '../ui/FadeInView'
-
-import { type Milestone, MILESTONES, STATS } from './MilestonesSlide.data'
-import { THEMES } from './MilestonesSlide.themes'
-import { StarField, SoftGrid, Timeline, StatCard, DetailModal } from './MilestonesSlide.parts'
+import { type Milestone } from './MilestonesSlide.data'
+import { THEMES, CSS_KF, useIsLight } from './MilestonesSlide.themes'
+import { MilestonesInner } from './MilestonesSlide.parts'
 
 interface MilestonesSlideProps { lang: Language }
 
-const MONO: React.CSSProperties = {
-  fontFamily: '"JetBrains Mono","SF Mono",ui-monospace,monospace',
-  fontVariantNumeric: 'tabular-nums',
-}
-
-const CSS_KF = `
-  @keyframes msFlow { 0%{stroke-dashoffset:0} 100%{stroke-dashoffset:-18} }
-  @keyframes msFadeIn { from{opacity:0} to{opacity:1} }
-  @keyframes msScaleIn { from{opacity:0;transform:scale(.94)} to{opacity:1;transform:scale(1)} }
-  @keyframes msHeadingDark {
-    0%,100%{text-shadow:0 0 22px rgba(167,139,250,.3)}
-    50%    {text-shadow:0 0 40px rgba(167,139,250,.6)}
-  }
-  @keyframes msHeadingLight {
-    0%,100%{text-shadow:0 0 22px rgba(124,58,237,.15)}
-    50%    {text-shadow:0 0 36px rgba(124,58,237,.30)}
-  }
-  @keyframes msPulse {
-    0%,100%{r:9;opacity:.4}
-    50%    {r:14;opacity:.05}
-  }
-`
-
-// ── Light mode hook ───────────────────────────────────────────────────────────
-function useIsLight() {
-  const [isLight, setIsLight] = useState(false)
-  useEffect(() => {
-    const check = () => setIsLight(document.documentElement.classList.contains('theme-light'))
-    check()
-    const obs = new MutationObserver(check)
-    obs.observe(document.documentElement, { attributes: true, attributeFilter: ['class'] })
-    return () => obs.disconnect()
-  }, [])
-  return isLight
-}
-
-// ── Inner slide (fixed 1280×680) ──────────────────────────────────────────────
-function MilestonesInner({ t, de, sel, setSel }: {
-  t: typeof THEMES.dark; de: boolean
-  sel: Milestone | null
-  setSel: (m: Milestone | null) => void
-}) {
-  const doneCnt = useMemo(() => MILESTONES.filter(m => m.done).length, [])
-  const total = MILESTONES.length
-
-  return (
-    <div style={{
-      position: 'relative', width: 1280, height: 600, overflow: 'hidden',
-      background: t.bg, color: t.fg,
-      fontFamily: '"Inter", system-ui, sans-serif', WebkitFontSmoothing: 'antialiased',
-    }}>
-      {/* Ambient glow */}
-      <div style={{
-        position: 'absolute', top: -120, left: '50%', transform: 'translateX(-50%)',
-        width: 800, height: 500, borderRadius: '50%',
-        background: t.ambient, filter: 'blur(50px)', pointerEvents: 'none',
-      }} />
-
-      {t.stars ? <StarField /> : <SoftGrid t={t} />}
-
-      {/* Progress indicator */}
-      <div style={{
-        position: 'absolute', top: 36, right: 52, display: 'flex', alignItems: 'center', gap: 10, zIndex: 3,
-      }}>
-        <div style={{ ...MONO, fontSize: 10, letterSpacing: 2, color: t.fgMuted, textTransform: 'uppercase' as const, fontWeight: 700 }}>
-          {de ? 'Fortschritt' : 'Progress'}
-        </div>
-        <div style={{
-          width: 120, height: 6, background: t.progressTrackBg, borderRadius: 3, overflow: 'hidden',
-          border: `1px solid ${t.progressTrackBorder}`,
-        }}>
-          <div style={{
-            width: `${(doneCnt / total) * 100}%`, height: '100%',
-            background: `linear-gradient(90deg, ${t.done}, ${t.accent})`,
-            boxShadow: `0 0 12px ${t.done}99`,
-          }} />
-        </div>
-        <div style={{ ...MONO, fontSize: 11, color: t.fg, fontWeight: 700 }}>
-          <span style={{ color: t.done }}>{doneCnt}</span>
-          <span style={{ color: t.fgWhisper }}> / {total}</span>
-        </div>
-      </div>
-
-      {/* Tip */}
-      <div style={{
-        position: 'absolute', top: 36, left: 52, ...MONO, fontSize: 10,
-        letterSpacing: 2, color: t.fgGhost, textTransform: 'uppercase' as const, fontWeight: 700,
-        display: 'flex', alignItems: 'center', gap: 8, zIndex: 3,
-      }}>
-        <span>{de ? 'Tipp:' : 'Tip:'}</span>
-        <span style={{ color: t.accent70 }}>{de ? 'Klick auf einen Meilenstein' : 'Click any milestone'}</span>
-      </div>
-
-      {/* Timeline */}
-      <div style={{ position: 'relative', marginTop: 68 }}>
-        <Timeline onSelect={setSel} selectedId={sel?.id ?? null} t={t} de={de} />
-      </div>
-
-      {/* Stats */}
-      <div style={{
-        position: 'absolute', left: 40, right: 40, bottom: 36,
-        display: 'grid', gridTemplateColumns: 'repeat(5, 1fr)', gap: 14,
-      }}>
-        {STATS.map(s => <StatCard key={s.tint} item={s} t={t} de={de} />)}
-      </div>
-
-      {/* Footer */}
-      <div style={{
-        position: 'absolute', left: 0, right: 0, bottom: 14, textAlign: 'center',
-        ...MONO, fontSize: 9, letterSpacing: 3, color: t.accent40,
-        textTransform: 'uppercase' as const, fontWeight: 700,
-      }}>
-        {de ? 'Stand heute · live-Metriken aus der Plattform' : 'As of today · live metrics from the platform'}
-      </div>
-
-      <DetailModal item={sel} onClose={() => setSel(null)} t={t} de={de} />
-    </div>
-  )
-}
-
-// ── Main slide ────────────────────────────────────────────────────────────────
 const INNER_W = 1280
 const INNER_H = 600
 
diff --git a/pitch-deck/lib/db.ts b/pitch-deck/lib/db.ts
index bce424a..02a3e4b 100644
--- a/pitch-deck/lib/db.ts
+++ b/pitch-deck/lib/db.ts
@@ -8,7 +8,7 @@ import { Pool, types } from 'pg'
 types.setTypeParser(types.builtins.NUMERIC, (val) => (val === null ? null : parseFloat(val)))
 
 const pool = new Pool({
-  connectionString: process.env.DATABASE_URL || 'postgres://breakpilot:breakpilot123@localhost:5432/breakpilot_db',
+  connectionString: process.env.DATABASE_URL,
   max: 20,
   idleTimeoutMillis: 30000,
   connectionTimeoutMillis: 10000,
diff --git a/pitch-deck/lib/finanzplan/adapter.ts b/pitch-deck/lib/finanzplan/adapter.ts
index 6eee954..ca9c3b5 100644
--- a/pitch-deck/lib/finanzplan/adapter.ts
+++ b/pitch-deck/lib/finanzplan/adapter.ts
@@ -53,8 +53,8 @@ export async function finanzplanToFMResults(pool: Pool, scenarioId?: string): Pr
   const afaRow = betrieb.find((r: any) => r.row_label === 'Abschreibungen')
   const afa = afaRow?.values || emptyMonthly()
 
-  // Liquidität endstand
-  const liqEndRow = liquid.find((r: any) => r.row_label === 'LIQUIDITAET')
+  // Liquidität endstand — match by row_type to handle both 'LIQUIDITÄT' and 'LIQUIDITAET' labels
+  const liqEndRow = liquid.find((r: any) => r.row_type === 'kontostand' && r.row_label?.includes('LIQUIDIT'))
   const cashBalance = liqEndRow?.values || emptyMonthly()
 
   // Headcount
@@ -120,7 +120,7 @@ export async function finanzplanToFMResults(pool: Pool, scenarioId?: string): Pr
   const breakEvenMonth = results.findIndex(r => r.revenue_eur > r.total_costs_eur)
 
   return {
-    scenario_id: sid,
+    scenario_id: sid as string,
     results,
     summary: {
       final_arr: lastMonth?.arr_eur || 0,
diff --git a/pitch-deck/lib/finanzplan/engine-betrieb.ts b/pitch-deck/lib/finanzplan/engine-betrieb.ts
index 8b51af8..5d6f2c7 100644
--- a/pitch-deck/lib/finanzplan/engine-betrieb.ts
+++ b/pitch-deck/lib/finanzplan/engine-betrieb.ts
@@ -2,7 +2,8 @@
  * Betriebliche Aufwendungen — formula-based rows + category sums
  *
  * Computes formula-driven operating expenses (Fortbildung, Reisekosten, etc.),
- * Gewerbesteuer, category sums, and Gesamtkosten.
+ * Gewerbesteuer, marketing, Berufsgenossenschaft, category sums, and Gesamtkosten.
+ * Also computes Cloud-Hosting formula in Materialaufwand.
  */
 
 import { Pool } from 'pg'
@@ -13,6 +14,8 @@ import {
 } from './types'
 import { sumRows } from './engine-sheets'
 
+type FPMaterialaufwand = import('./types').FPMaterialaufwand
+
 export interface BetriebContext {
   totalBrutto: MonthlyValues
   totalPersonal: MonthlyValues
@@ -23,6 +26,27 @@ export interface BetriebContext {
   totalBestandskunden: MonthlyValues
 }
 
+/**
+ * Compute Cloud-Hosting formula in Materialaufwand.
+ */
+export async function computeCloudHosting(
+  pool: Pool,
+  matRows: FPMaterialaufwand[],
+  totalBestandskunden: MonthlyValues,
+): Promise<void> {
+  const cloudRow = matRows.find(r => r.row_label.includes('Cloud-Hosting'))
+  if (cloudRow) {
+    const computed = emptyMonthly()
+    for (let m = FOUNDING_MONTH; m <= MONTHS; m++) {
+      const kunden = totalBestandskunden[`m${m}`] || 0
+      const extraKunden = Math.max(0, kunden - 10) // first 10 included in base
+      computed[`m${m}`] = Math.round(extraKunden * 100 + 1500)
+    }
+    await pool.query('UPDATE fp_materialaufwand SET values = $1 WHERE id = $2', [JSON.stringify(computed), cloudRow.id])
+    cloudRow.values = computed
+  }
+}
+
 /**
  * Compute all formula-based betriebliche aufwendungen rows and sums.
  * Writes computed values back to DB.
@@ -41,6 +65,7 @@ export async function computeBetrieblicheAufwendungen(
   // Formula-based rows: derive from headcount (excl. founders) or customers
   const formulaRows: { label: string; perUnit: number; source: MonthlyValues }[] = [
     { label: 'Fort-/Weiterbildungskosten (F)', perUnit: 300, source: hcWithoutFounders },
+    // KFZ costs are manual (from Jan 2028), not formula-based
     { label: 'Reisekosten (F)', perUnit: 75, source: ctx.headcount },
     { label: 'Bewirtungskosten (F)', perUnit: 50, source: ctx.totalBestandskunden },
     { label: 'Internet/Mobilfunk (F)', perUnit: 50, source: ctx.headcount },
@@ -58,7 +83,7 @@ export async function computeBetrieblicheAufwendungen(
     }
   }
 
-  // Berufsgenossenschaft (VBG IT/Büro): ~0.5% of total brutto payroll
+  // Berufsgenossenschaft (VBG IT/Buero): ~0.5% of total brutto payroll
   const bgRow = betrieb.find(r => r.row_label.includes('Berufsgenossenschaft'))
   if (bgRow) {
     const computed = emptyMonthly()
@@ -95,6 +120,7 @@ export async function computeBetrieblicheAufwendungen(
   }
 
   // Gewerbesteuer (F): 12.25% of monthly profit (only when positive)
+  // Monthly profit = Revenue - Material - Personnel - AfA - other opex (excl. taxes)
   const gewStRow = betrieb.find(r => r.row_label.includes('Gewerbesteuer'))
   if (gewStRow) {
     const nonTaxOpex = betrieb.filter(r =>
diff --git a/pitch-deck/lib/finanzplan/engine-guv.ts b/pitch-deck/lib/finanzplan/engine-guv.ts
index 4910636..cf1c38e 100644
--- a/pitch-deck/lib/finanzplan/engine-guv.ts
+++ b/pitch-deck/lib/finanzplan/engine-guv.ts
@@ -1,8 +1,8 @@
 /**
  * GuV (Gewinn- und Verlustrechnung) — annual P&L computation
  *
- * Computes annual sums, EBIT, taxes (Gewerbesteuer, Körperschaftsteuer)
- * with Verlustvortrag, and writes tax amounts back to Liquidität.
+ * Computes annual sums, EBIT, taxes (Gewerbesteuer, Koerperschaftsteuer)
+ * with Verlustvortrag, and writes tax amounts back to Liquiditaet.
  */
 
 import { Pool } from 'pg'
@@ -23,7 +23,7 @@ export interface GuvContext {
 }
 
 /**
- * Compute GuV annual values, taxes, and write tax values to Liquidität.
+ * Compute GuV annual values, taxes, and write tax values to Liquiditaet.
  * Returns EBIT annual values.
  */
 export async function computeGuV(
@@ -85,7 +85,7 @@ export async function computeGuV(
   await pool.query('UPDATE fp_guv SET values = $1 WHERE scenario_id = $2 AND row_label = $3', [JSON.stringify(ergebnisNachSteuern), scenarioId, 'Ergebnis nach Steuern'])
   await pool.query('UPDATE fp_guv SET values = $1 WHERE scenario_id = $2 AND row_label = $3', [JSON.stringify(ergebnisNachSteuern), scenarioId, 'Jahresüberschuss'])
 
-  // Write taxes to Liquidität (monthly = 1/12 of annual amount)
+  // Write taxes to Liquiditaet (monthly = 1/12 of annual amount)
   await writeTaxToLiquiditaet(pool, findLiq('Gewerbesteuer'), gewerbesteuer)
   await writeTaxToLiquiditaet(pool, findLiq('Körperschaftsteuer'), koerperschaftsteuer)
 
@@ -95,8 +95,8 @@ export async function computeGuV(
 // --- Tax helpers ---
 
 // Stockach 78333: Hebesatz 350%
-// Gewerbesteuer = 3,5% × 3,5 = 12,25%
-// Körperschaftsteuer = 15% + 5,5% Soli = 15,825%
+// Gewerbesteuer = 3,5% x 3,5 = 12,25%
+// Koerperschaftsteuer = 15% + 5,5% Soli = 15,825%
 const GEWERBESTEUER_RATE = 0.035 * 3.5   // 12,25%
 const KOERPERSCHAFTSTEUER_RATE = 0.15 * 1.055  // 15,825% (inkl. Soli)
 
@@ -112,14 +112,16 @@ function computeTaxes(ebit: AnnualValues) {
     const gewinn = ebit[k] || 0
 
     if (gewinn <= 0) {
+      // Verlust: keine Steuern, Verlustvortrag aufbauen
       verlustvortrag += Math.abs(gewinn)
       gewerbesteuer[k] = 0
       koerperschaftsteuer[k] = 0
       steuernGesamt[k] = 0
       ergebnisNachSteuern[k] = Math.round(gewinn)
     } else {
+      // Gewinn: Verlustvortrag verrechnen
       // Bis 1 Mio EUR: 100% verrechenbar
-      // Über 1 Mio EUR: nur 60% verrechenbar (Mindestbesteuerung)
+      // Ueber 1 Mio EUR: nur 60% verrechenbar (Mindestbesteuerung)
       let verrechenbar = 0
       if (verlustvortrag > 0) {
         if (gewinn <= 1000000) {
diff --git a/pitch-deck/lib/finanzplan/engine-liquiditaet.ts b/pitch-deck/lib/finanzplan/engine-liquiditaet.ts
index 0e23d95..f33e3b0 100644
--- a/pitch-deck/lib/finanzplan/engine-liquiditaet.ts
+++ b/pitch-deck/lib/finanzplan/engine-liquiditaet.ts
@@ -1,8 +1,8 @@
 /**
  * Liquiditaet — rolling cash balance computation
  *
- * Computes operative Einzahlungen/Auszahlungen sums,
- * Überschuss vor Investitionen/Entnahmen, and rolling Kontostand.
+ * Computes Einzahlungen/Auszahlungen sums (dynamic row_type-based),
+ * Ueberschuss vor Investitionen/Entnahmen, and rolling Kontostand/Liquiditaet.
  */
 
 import { Pool } from 'pg'
@@ -58,52 +58,57 @@ export async function computeLiquiditaet(
     liqInvest.values = ctx.totalInvest
   }
 
-  // Compute sums and rolling balance
-  const sumEin = findLiq('Summe EINZAHLUNGEN')
-  const sumAus = findLiq('Summe AUSZAHLUNGEN')
-  const uebVorInv = findLiq('ÜBERSCHUSS VOR INVESTITIONEN')
-  const uebVorEnt = findLiq('ÜBERSCHUSS VOR ENTNAHMEN')
-  const ueberschuss = findLiq('ÜBERSCHUSS')
-  const kontostand = findLiq('Kontostand zu Beginn des Monats')
-  const liquiditaet = findLiq('LIQUIDITÄT')
+  // Compute sums and rolling balance — dynamic row_type-based (handles any label conventions)
+  await computeRollingBalance(pool, liquid)
 
-  // Dynamically categorize rows by row_type
-  const einzahlungenOperativ = ['Umsatzerlöse', 'Sonst. betriebl. Erträge', 'Anzahlungen']
-  const finanzierungRows = liquid.filter(r =>
-    r.row_type === 'einzahlung' &&
-    !einzahlungenOperativ.includes(r.row_label) &&
-    !r.row_label.includes('Summe')
-  )
-  const auszahlungenOperativ = ['Materialaufwand', 'Personalkosten', 'Sonstige Kosten', 'Umsatzsteuer', 'Gewerbesteuer', 'Körperschaftsteuer']
-  const finanzAuszahlungRows = liquid.filter(r =>
-    r.row_type === 'auszahlung' &&
-    !auszahlungenOperativ.includes(r.row_label) &&
-    !r.row_label.includes('Summe')
-  )
+  return { endstand: liquid.find(r => r.row_type === 'kontostand' && r.row_label.includes('LIQUIDIT'))?.values || emptyMonthly() }
+}
 
-  // Summe EINZAHLUNGEN = nur operativ
+/**
+ * Recompute Summe AUSZAHLUNGEN -> UEBERSCHUSS chain -> rolling balance.
+ * Called both in initial pass and after tax values are written from GuV.
+ */
+export async function computeRollingBalance(
+  pool: Pool,
+  liquid: FPLiquiditaet[],
+): Promise<void> {
+  const findLiqMatch = (options: string[]) => liquid.find(r => options.includes(r.row_label))
+
+  const sumEin = findLiqMatch(['Summe ERTRÄGE', 'Summe EINZAHLUNGEN'])
+  const sumAus = findLiqMatch(['Summe AUSZAHLUNGEN'])
+  const uebVorInv = findLiqMatch(['ÜBERSCHUSS VOR INVESTITIONEN', 'UEBERSCHUSS VOR INVESTITIONEN'])
+  const uebVorEnt = findLiqMatch(['ÜBERSCHUSS VOR ENTNAHMEN', 'UEBERSCHUSS VOR ENTNAHMEN'])
+  const ueberschuss = findLiqMatch(['ÜBERSCHUSS', 'UEBERSCHUSS'])
+  const liqInvest = liquid.find(r => r.row_label === 'Investitionen')
+  // Kontostand: label varies per scenario (with/without parentheses)
+  const kontostand = liquid.find(r => r.row_type === 'kontostand' && !r.row_label.includes('LIQUIDIT'))
+  const liquiditaet = liquid.find(r => r.row_type === 'kontostand' && r.row_label.includes('LIQUIDIT'))
+
+  // Summe ERTRAEGE = ALL einzahlungen (dynamic — works regardless of how many rows exist)
   if (sumEin) {
     const s = emptyMonthly()
-    for (const label of einzahlungenOperativ) {
-      const row = findLiq(label)
-      if (row) for (let m = 1; m <= MONTHS; m++) s[`m${m}`] += Math.round(row.values[`m${m}`] || 0)
+    for (const row of liquid) {
+      if (row.row_type === 'einzahlung' && row.id !== sumEin.id) {
+        for (let m = 1; m <= MONTHS; m++) s[`m${m}`] += Math.round(row.values[`m${m}`] || 0)
+      }
     }
     await pool.query('UPDATE fp_liquiditaet SET values = $1 WHERE id = $2', [JSON.stringify(s), sumEin.id])
     sumEin.values = s
   }
 
-  // Summe AUSZAHLUNGEN = nur operativ
+  // Summe AUSZAHLUNGEN = ALL auszahlungen (dynamic)
   if (sumAus) {
     const s = emptyMonthly()
-    for (const label of auszahlungenOperativ) {
-      const row = findLiq(label)
-      if (row) for (let m = 1; m <= MONTHS; m++) s[`m${m}`] += Math.round(row.values[`m${m}`] || 0)
+    for (const row of liquid) {
+      if (row.row_type === 'auszahlung' && row.id !== sumAus.id) {
+        for (let m = 1; m <= MONTHS; m++) s[`m${m}`] += Math.round(row.values[`m${m}`] || 0)
+      }
     }
     await pool.query('UPDATE fp_liquiditaet SET values = $1 WHERE id = $2', [JSON.stringify(s), sumAus.id])
     sumAus.values = s
   }
 
-  // OPERATIVER ÜBERSCHUSS VOR INVESTITIONEN
+  // UEBERSCHUSS VOR INVESTITIONEN = Summe ERTRAEGE - Summe AUSZAHLUNGEN (total cashflow)
   if (uebVorInv && sumEin && sumAus) {
     const s = emptyMonthly()
     for (let m = 1; m <= MONTHS; m++) s[`m${m}`] = Math.round((sumEin.values[`m${m}`] || 0) - (sumAus.values[`m${m}`] || 0))
@@ -111,7 +116,7 @@ export async function computeLiquiditaet(
     uebVorInv.values = s
   }
 
-  // ÜBERSCHUSS VOR ENTNAHMEN = Operativer Überschuss - Investitionen
+  // UEBERSCHUSS VOR ENTNAHMEN = UEBERSCHUSS VOR INVESTITIONEN - Investitionen
   if (uebVorEnt && uebVorInv && liqInvest) {
     const s = emptyMonthly()
     for (let m = 1; m <= MONTHS; m++) s[`m${m}`] = Math.round((uebVorInv.values[`m${m}`] || 0) - (liqInvest.values[`m${m}`] || 0))
@@ -119,8 +124,8 @@ export async function computeLiquiditaet(
     uebVorEnt.values = s
   }
 
-  // ÜBERSCHUSS = Überschuss vor Entnahmen - Entnahmen
-  const entnahmen = findLiq('Kapitalentnahmen/Ausschüttungen')
+  // UEBERSCHUSS = UEBERSCHUSS VOR ENTNAHMEN - Kapitalentnahmen
+  const entnahmen = findLiqMatch(['Kapitalentnahmen/Ausschüttungen', 'Kapitalentnahmen/Ausschuettungen'])
   if (ueberschuss && uebVorEnt && entnahmen) {
     const s = emptyMonthly()
     for (let m = 1; m <= MONTHS; m++) s[`m${m}`] = Math.round((uebVorEnt.values[`m${m}`] || 0) - (entnahmen.values[`m${m}`] || 0))
@@ -128,27 +133,18 @@ export async function computeLiquiditaet(
     ueberschuss.values = s
   }
 
-  // Rolling Kontostand: Vormonat + Operativer Überschuss + Finanzierung
+  // Rolling balance: LIQUIDITAET[m] = LIQUIDITAET[m-1] + UEBERSCHUSS[m]
+  // UEBERSCHUSS now includes ALL cash flows (operative + financing + repayments)
   if (kontostand && liquiditaet && ueberschuss) {
-    const finCF = emptyMonthly()
-    for (const row of finanzierungRows) {
-      for (let m = 1; m <= MONTHS; m++) finCF[`m${m}`] += Math.round(row.values[`m${m}`] || 0)
-    }
-    for (const row of finanzAuszahlungRows) {
-      for (let m = 1; m <= MONTHS; m++) finCF[`m${m}`] -= Math.round(row.values[`m${m}`] || 0)
-    }
-
     const ks = emptyMonthly()
     const lq = emptyMonthly()
     for (let m = 1; m <= MONTHS; m++) {
       ks[`m${m}`] = m === 1 ? 0 : Math.round(lq[`m${m - 1}`])
-      lq[`m${m}`] = Math.round(ks[`m${m}`] + (ueberschuss.values[`m${m}`] || 0) + (finCF[`m${m}`] || 0))
+      lq[`m${m}`] = Math.round(ks[`m${m}`] + (ueberschuss.values[`m${m}`] || 0))
     }
     await pool.query('UPDATE fp_liquiditaet SET values = $1 WHERE id = $2', [JSON.stringify(ks), kontostand.id])
     await pool.query('UPDATE fp_liquiditaet SET values = $1 WHERE id = $2', [JSON.stringify(lq), liquiditaet.id])
     kontostand.values = ks
     liquiditaet.values = lq
   }
-
-  return { endstand: liquiditaet?.values || emptyMonthly() }
 }
diff --git a/pitch-deck/lib/finanzplan/engine-sheets.ts b/pitch-deck/lib/finanzplan/engine-sheets.ts
index ea7ad01..539bb80 100644
--- a/pitch-deck/lib/finanzplan/engine-sheets.ts
+++ b/pitch-deck/lib/finanzplan/engine-sheets.ts
@@ -6,7 +6,7 @@
  */
 
 import {
-  MonthlyValues, MONTHS, FOUNDING_MONTH,
+  MonthlyValues, MONTHS,
   emptyMonthly, dateToMonth, monthToDate,
   FPPersonalkosten, FPInvestitionen,
 } from './types'
diff --git a/pitch-deck/lib/finanzplan/engine.ts b/pitch-deck/lib/finanzplan/engine.ts
index 7f530a2..b3f0466 100644
--- a/pitch-deck/lib/finanzplan/engine.ts
+++ b/pitch-deck/lib/finanzplan/engine.ts
@@ -4,40 +4,38 @@
  * Dependency order:
  *   Personalkosten (independent inputs)
  *   Investitionen (independent inputs)
- *   Kunden → Umsatzerlöse → Materialaufwand
+ *   Kunden -> Umsatzerloese -> Materialaufwand
  *   Betriebliche Aufwendungen (needs Personal + Invest)
- *   Sonst. betr. Erträge (independent)
- *   Liquidität (aggregates all above)
+ *   Sonst. betr. Ertraege (independent)
+ *   Liquiditaet (aggregates all above)
  *   GuV (annual summary)
  *
- * Split into modules:
- *   engine-sheets.ts    — pure calculators (no DB)
- *   engine-betrieb.ts   — betriebliche aufwendungen
- *   engine-liquiditaet.ts — liquidity / cash flow
- *   engine-guv.ts       — GuV / P&L + taxes
+ * Each computation step is delegated to a companion module:
+ *   engine-sheets.ts    — pure computation (Personal, Invest, aggregation)
+ *   engine-betrieb.ts   — formula-based opex + category sums
+ *   engine-liquiditaet.ts — rolling cash balance
+ *   engine-guv.ts       — annual P&L + taxes
  */
 
 import { Pool } from 'pg'
 import {
   MonthlyValues, MONTHS, FOUNDING_MONTH,
-  emptyMonthly,
-  FPPersonalkosten, FPInvestitionen, FPBetrieblicheAufwendungen,
+  emptyMonthly, FPBetrieblicheAufwendungen,
   FPLiquiditaet, FPComputeResult,
 } from './types'
-import {
-  computePersonalkosten, computeInvestitionen,
-  sumField, computeHeadcount,
-} from './engine-sheets'
-import { computeBetrieblicheAufwendungen } from './engine-betrieb'
-import { computeLiquiditaet } from './engine-liquiditaet'
+import { computePersonalkosten, computeInvestitionen, sumField } from './engine-sheets'
+import { computeBetrieblicheAufwendungen, computeCloudHosting } from './engine-betrieb'
+import { computeLiquiditaet, computeRollingBalance } from './engine-liquiditaet'
 import { computeGuV } from './engine-guv'
 
-// Re-export sheet calculators for direct consumers
+// Re-export pure calculators for direct use by tests / scripts
 export { computePersonalkosten, computeInvestitionen } from './engine-sheets'
 
-// Import types used inline
+// Import types used only inside this file
 type FPUmsatzerloese = import('./types').FPUmsatzerloese
 type FPMaterialaufwand = import('./types').FPMaterialaufwand
+type FPPersonalkosten = import('./types').FPPersonalkosten
+type FPInvestitionen = import('./types').FPInvestitionen
 
 // --- Main Engine ---
 
@@ -61,8 +59,12 @@ export async function computeFinanzplan(pool: Pool, scenarioId: string): Promise
   const totalBrutto = sumField(personal as any, 'values_brutto')
   const totalSozial = sumField(personal as any, 'values_sozial')
   const totalPersonal = sumField(personal as any, 'values_total')
-  const headcount = computeHeadcount(personal)
+  const headcount = emptyMonthly()
+  for (let m = 1; m <= MONTHS; m++) {
+    headcount[`m${m}`] = personal.filter(p => (p.values_total[`m${m}`] || 0) > 0).length
+  }
 
+  // Write computed values back to DB
   for (const p of personal) {
     await pool.query(
       'UPDATE fp_personalkosten SET values_brutto = $1, values_sozial = $2, values_total = $3 WHERE id = $4',
@@ -82,84 +84,70 @@ export async function computeFinanzplan(pool: Pool, scenarioId: string): Promise
     )
   }
 
-  // 4. Umsatzerlöse (quantity × price) + Materialaufwand
+  // 4. Umsatzerloese + Materialaufwand
   const { totalRevenue, totalMaterial } = await computeRevenueAndMaterial(
-    pool, umsatzRows.rows as FPUmsatzerloese[], materialRows.rows as FPMaterialaufwand[]
+    pool, umsatzRows.rows as FPUmsatzerloese[], materialRows.rows as FPMaterialaufwand[],
   )
 
   // 5. Bestandskunden (for formula-based costs)
-  const kundenRows = await pool.query(
-    "SELECT segment_name, row_label, values FROM fp_kunden WHERE scenario_id = $1 AND row_label LIKE 'Bestandskunden%' ORDER BY sort_order",
-    [scenarioId]
-  )
-  const totalBestandskunden = emptyMonthly()
-  for (const row of kundenRows.rows) {
-    const rl = (row as { row_label?: string }).row_label || ''
-    if (rl.includes('Bestandskunden') && !rl.includes('gesamt')) {
-      for (let m = 1; m <= MONTHS; m++) {
-        totalBestandskunden[`m${m}`] += row.values?.[`m${m}`] || 0
-      }
-    }
-  }
+  const totalBestandskunden = await loadBestandskunden(pool, scenarioId)
 
-  // Cloud-Hosting in Materialaufwand
-  const matRows = materialRows.rows as FPMaterialaufwand[]
-  const cloudRow = matRows.find(r => r.row_label.includes('Cloud-Hosting'))
-  if (cloudRow) {
-    const computed = emptyMonthly()
-    for (let m = FOUNDING_MONTH; m <= MONTHS; m++) {
-      const kunden = totalBestandskunden[`m${m}`] || 0
-      const extraKunden = Math.max(0, kunden - 10)
-      computed[`m${m}`] = Math.round(extraKunden * 100 + 1500)
-    }
-    await pool.query('UPDATE fp_materialaufwand SET values = $1 WHERE id = $2', [JSON.stringify(computed), cloudRow.id])
-    cloudRow.values = computed
-  }
+  // 5b. Cloud-Hosting formula in Materialaufwand
+  await computeCloudHosting(pool, materialRows.rows as FPMaterialaufwand[], totalBestandskunden)
 
   // 6. Betriebliche Aufwendungen
   const betrieb = betriebRows.rows as FPBetrieblicheAufwendungen[]
-  const { totalSonstige, totalGesamt } = await computeBetrieblicheAufwendungen(pool, betrieb, {
+  const { totalSonstige } = await computeBetrieblicheAufwendungen(pool, betrieb, {
     totalBrutto, totalPersonal, totalAfa, totalRevenue, totalMaterial,
     headcount, totalBestandskunden,
   })
 
-  // 7. Liquidität
+  // 7. Liquiditaet (first pass)
   const liquid = liquidRows.rows as FPLiquiditaet[]
-  const { endstand } = await computeLiquiditaet(pool, liquid, {
+  await computeLiquiditaet(pool, liquid, {
     totalRevenue, totalMaterial, totalPersonal, totalSonstige, totalInvest,
   })
 
-  // 8. GuV
+  // 8. GuV — compute annual values + taxes (writes tax rows to Liquiditaet)
   const guv = await computeGuV(pool, scenarioId, liquid, {
     totalRevenue, totalMaterial, totalBrutto, totalSozial,
     totalPersonal, totalAfa, totalSonstige,
   })
 
+  // 9. Second pass: tax rows were written after rolling balance above.
+  // Recompute Summe AUSZAHLUNGEN -> UEBERSCHUSS chain -> rolling balance
+  // so taxes are included even on the first engine run.
+  await computeRollingBalance(pool, liquid)
+
+  // 10. Build result
+  const gesamtBetrieb = betrieb.find(r => r.row_label.includes('Gesamtkosten') || r.row_label.includes('SUMME Betriebliche'))
+  const liquiditaetRow = liquid.find(r => r.row_type === 'kontostand' && r.row_label.includes('LIQUIDIT'))
+
   return {
     personalkosten: { total_brutto: totalBrutto, total_sozial: totalSozial, total: totalPersonal, positions: personal, headcount },
     investitionen: { total_invest: totalInvest, total_afa: totalAfa, items: invest },
     umsatzerloese: { total: totalRevenue },
     materialaufwand: { total: totalMaterial },
-    betriebliche: { total_sonstige: totalSonstige, total_gesamt: totalGesamt },
-    liquiditaet: { rows: liquid, endstand },
+    betriebliche: { total_sonstige: totalSonstige, total_gesamt: gesamtBetrieb?.values || emptyMonthly() },
+    liquiditaet: { rows: liquid, endstand: liquiditaetRow?.values || emptyMonthly() },
     guv,
   }
 }
 
-// --- Revenue & Material helpers (kept here to avoid circular deps) ---
+// --- Revenue & Material helpers (kept in orchestrator — tightly coupled to DB writes) ---
 
 async function computeRevenueAndMaterial(
   pool: Pool,
   umsatzAllRows: FPUmsatzerloese[],
   materialAllRows: FPMaterialaufwand[],
 ): Promise<{ totalRevenue: MonthlyValues; totalMaterial: MonthlyValues }> {
+  // Umsatzerloese (quantity x price)
   const prices = umsatzAllRows.filter(r => r.section === 'price')
   const quantities = umsatzAllRows.filter(r => r.section === 'quantity')
   const revenueRows = umsatzAllRows.filter(r => r.section === 'revenue')
   const totalRevenue = emptyMonthly()
 
   const extractTier = (label: string) => { const m = label.match(/\(([^)]+)\)/); return m ? m[1] : label }
-
   for (const rev of revenueRows) {
     if (rev.row_label === 'GESAMTUMSATZ') continue
     const tier = extractTier(rev.row_label)
@@ -167,8 +155,7 @@ async function computeRevenueAndMaterial(
     const price = prices.find(p => extractTier(p.row_label) === tier) || prices.find(p => p.row_label === rev.row_label)
     if (qty && price) {
       for (let m = 1; m <= MONTHS; m++) {
-        const v = (qty.values[`m${m}`] || 0) * (price.values[`m${m}`] || 0)
-        rev.values[`m${m}`] = Math.round(v)
+        rev.values[`m${m}`] = Math.round((qty.values[`m${m}`] || 0) * (price.values[`m${m}`] || 0))
       }
       await pool.query('UPDATE fp_umsatzerloese SET values = $1 WHERE id = $2', [JSON.stringify(rev.values), rev.id])
     }
@@ -181,7 +168,7 @@ async function computeRevenueAndMaterial(
     await pool.query('UPDATE fp_umsatzerloese SET values = $1 WHERE id = $2', [JSON.stringify(totalRevenue), gesamtUmsatz.id])
   }
 
-  // Materialaufwand
+  // Materialaufwand (quantity x unit_cost)
   const matCosts = materialAllRows.filter(r => r.section === 'cost')
   const matUnitCosts = materialAllRows.filter(r => r.section === 'unit_cost')
   const totalMaterial = emptyMonthly()
@@ -192,8 +179,7 @@ async function computeRevenueAndMaterial(
     const qty = quantities.find(q => q.row_label === cost.row_label)
     if (uc && qty) {
       for (let m = 1; m <= MONTHS; m++) {
-        const v = (qty.values[`m${m}`] || 0) * (uc.values[`m${m}`] || 0)
-        cost.values[`m${m}`] = Math.round(v)
+        cost.values[`m${m}`] = Math.round((qty.values[`m${m}`] || 0) * (uc.values[`m${m}`] || 0))
       }
       await pool.query('UPDATE fp_materialaufwand SET values = $1 WHERE id = $2', [JSON.stringify(cost.values), cost.id])
     }
@@ -208,3 +194,20 @@ async function computeRevenueAndMaterial(
 
   return { totalRevenue, totalMaterial }
 }
+
+async function loadBestandskunden(pool: Pool, scenarioId: string): Promise<MonthlyValues> {
+  const kundenRows = await pool.query(
+    "SELECT segment_name, row_label, values FROM fp_kunden WHERE scenario_id = $1 AND row_label LIKE 'Bestandskunden%' ORDER BY sort_order",
+    [scenarioId]
+  )
+  const totalBestandskunden = emptyMonthly()
+  for (const row of kundenRows.rows) {
+    const rl = (row as { row_label?: string }).row_label || ''
+    if (rl.includes('Bestandskunden') && !rl.includes('gesamt')) {
+      for (let m = 1; m <= MONTHS; m++) {
+        totalBestandskunden[`m${m}`] += row.values?.[`m${m}`] || 0
+      }
+    }
+  }
+  return totalBestandskunden
+}
diff --git a/pitch-deck/middleware.ts b/pitch-deck/middleware.ts
index fc6dfe4..6f5a7c7 100644
--- a/pitch-deck/middleware.ts
+++ b/pitch-deck/middleware.ts
@@ -6,7 +6,6 @@ const PUBLIC_PATHS = [
   '/auth',                    // investor login pages
   '/api/auth',                // investor auth API
   '/api/health',
-  '/api/admin/fp-patch',
   '/api/admin-auth',          // admin login API
   '/pitch-admin/login',       // admin login page
   '/_next',
@@ -47,10 +46,14 @@ export async function middleware(request: NextRequest) {
 
   // ----- Admin-gated routes -----
   if (isAdminGatedPath(pathname)) {
-    // Allow legacy bearer-secret CLI access on /api/admin/* (the API routes themselves
-    // also check this and log as actor='cli'). The bearer header is opaque to the JWT
-    // path, so we just let it through here and let the route handler enforce.
+    // Allow bearer-secret CLI access on /api/admin/* — validate the token here,
+    // not just in the route handler, to avoid any unprotected route slipping through.
     if (pathname.startsWith('/api/admin') && request.headers.get('authorization')?.startsWith('Bearer ')) {
+      const bearerToken = request.headers.get('authorization')!.slice(7)
+      const adminSecret = process.env.PITCH_ADMIN_SECRET
+      if (!adminSecret || bearerToken !== adminSecret) {
+        return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+      }
       return NextResponse.next()
     }
 
diff --git a/pitch-deck/next.config.js b/pitch-deck/next.config.js
index 08d8000..b9e6e97 100644
--- a/pitch-deck/next.config.js
+++ b/pitch-deck/next.config.js
@@ -5,9 +5,6 @@ const nextConfig = {
     NEXT_PUBLIC_GIT_SHA: process.env.GIT_SHA || 'dev',
   },
   reactStrictMode: true,
-  typescript: {
-    ignoreBuildErrors: true,
-  },
   serverExternalPackages: ['nodemailer'],
   async headers() {
     return [
diff --git a/pitch-deck/tsconfig.json b/pitch-deck/tsconfig.json
index ba48aa7..c446e16 100644
--- a/pitch-deck/tsconfig.json
+++ b/pitch-deck/tsconfig.json
@@ -14,7 +14,7 @@
     "incremental": true,
     "plugins": [{ "name": "next" }],
     "paths": { "@/*": ["./*"] },
-    "target": "ES2017"
+    "target": "ES2018"
   },
   "include": ["next-env.d.ts", "**/*.ts", "**/*.tsx", ".next/types/**/*.ts"],
   "exclude": ["node_modules"]