Done. I've written your December 2025 MBR narrative to `output/mbr-narrative.md`.

**The story:** December revenue hit budget, but operating income fell 38% short. Gross margin compressed by 0.7 points—COGS ran $6K over, and "Other operating" expenses jumped $6K above budget. Year-to-date, revenue trails by $362K and operating income by $195K. Four KPIs are underwater: days sales outstanding and on-time delivery have been off target for three months, active customers for two months, and inventory turns for one month. Technology spending was the lone bright spot, coming in $4K under budget.