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Add Home 1A

Equity
Addhome group creates space for your growth
Key Investment Information Sheet Terms & Conditions
€70,000
total amount raised in round
5 days
remaining
  • Eligible for a tax reduction

BUSINESS MODEL


The business model and recurring revenue of Add Home BV are divided into 3 categories:

  • Sales of products (+/-88% of recurring revenue).
  • Rental of products (+/-2% of recurring revenue).
  • "Reselling" of products & services (+/-10% of recurring revenue).
 

TRACK RECORD


Addhome group (Add Home BV) achieved a total revenue of 4.025M Euro in 2022, which is an increase of +/-6% compared to 2021. The total revenue for 2023 forecasts an increase in total revenue of +/-9% with an EBITDA of +/-549k Euro.

Rentability track record 2020-2022 & forecast 2023


The financial year 2023 was an extended financial year running from 01/01/2023 to 31/04/2024. The forecast included in the table above have been normalized to 12 months.

Between 2019 & 2023, Addhome group achieved a recurring revenue of EUR 12.709k Euro and a total revenue of 14.003k Euro. Between 2019 & 2023, Addhome group achieved EUR 1.295k Euro other &/or non-recurring revenue.

A small benchmark shows, based on information acquired via TrendsTop, that Addhome group's EBITDA margin in 2022 and 2023 is in line with various Belgian sectors:

  • Median "metal processing, metal fabrication":
    • 2020: 10%.
    • 2021: 9%.
    • 2022: 9%.
    • 2023: 7%.
  • Median "containers, manufacturing, repair, sales and rental":
    • 2020: 9%.
    • 2021: 9%.
    • 2022: 14%.
    • 2023: not available.
  • Median "construction companies, construction companies, contractors":
    • 2020: 10%.
    • 2021: 9%.
    • 2022: 9%
    • 2023: 7%.

At the end of 2023, Addhome group has an order book of EUR 8.342k. Between 2019 and 2023, a signed revenue of €21.052k was achieved, of which €12.709k has already been invoiced to Addhome group customers.

Signed revenue of 21.052 Euro between 2019 and 2023


PRE-MONEY CAP TABLE


The shareholders of Add Home BV are the following pre-money, mid-2024:

  • 50.0% BVC BV (Basiel Van Cauwenberge).
  • 50.0% Center of Gravity BV (Gert-Jan Plaisier).

USE OF FUNDS


Since a huge shift towards residential construction (abbreviated as MXX) has taken place in recent months, there is a need for financing due to the longer delivery times, longer payment terms & lower advance payments.

Signed revenue by product between 2019 and 2023


An advance payment of 40% is received with the other models (M1-M5), a later payment of advance payments applies for residential construction. The image below shows the invoicing method per product.

Invoicing per product


CAPITAL INCREASE 


The capital increase will be invested in 2024 & 2025 for:

  • Human capital:
    • Production Manager & Warehouser have already been recruited in Q1 2024.
    • Budget post-money: +/-60k Euro (training and integration within Addhome group).
  • Structural support of the working capital need resulting from the shit towards residential construction.
    • Post-money budget: 150k - 400k Euro.
  • CAPEX investments in automation/construction industrialization.
    • Post-money budget: 290k - 540k Euro.

Use of funds


FINANCIAL PLAN


In the post-money financial plan, based on a capital increase of 500k Euro, the total revenue by 2030 is budgeted at EUR 25.895k Euro with an EBITDA margin of 18%.

Post-money financial plan


Without a capital increase, organic growth, the total revenue in 2030 is budgeted at 11.711k Euro. The budgeted total revenue without capital increase, organic growth, and post-money based on a capital increase of 500k Euro are visualized in the figure below for the financial years 2024 to 2030.

Total revenue through organic growth (light blue) and post-money (dark green)


PRE-MONEY VALUATION


The pre-money valuation of 4,225k Euro is determined by the following parameters & variables:

  • EBITDA 2025: 1.135k Euro.
  • Capital increase 2024: 500k Euro.
  • Net financial debt 2025: 436k Euro.
  • EBITDA exit multiple 2025: 6,00 (based on the Vlerick M&A monitor 2023).
  • Cost of equity: 20%/year.

TAX SHELTER 25%

Investments in this company benefit from a 25% personal income tax reduction. Read more…
A remaining amount of €930,000 is available for the Tax Shelter benefit.

Fact sheet

Advised by a professional start-up advisor
Valuation is set by the co-investor or incubator
Co-investor or incubator will be members or observers to the board
At the closing, an incubator, accelerator, or studio will have shares
At the closing, the entrepreneurs have contributed a minimum of €15,000 in cash in exchange for shares
Raised €10,000 during a private phase
At the closing, a professional co-investor will have invested at least €25,000
Prior fundraising in equity or convertible loan with 10 or more investors
Seasoned entrepreneurs
Minimum 2 active entrepreneurs
Valuation set by an organisation specialized in valuations of comparable size
Valuation is less than €1 million or 10x last year’s turnover

Raise summary

Crowd investments €70,000
Committed by others €0
Amount raised €70,000
Minimum round €25,000
Maximum round €1,000,000
Shares in the company (total round) 19.139%
Pre-money valuation €4,225,000
Post-money valuation min. €4,250,000
Post-money valuation max. €5,225,000