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Shares Belgium Tax Shelter applicable
Pre money valuation
Equity offered
Amount raised
Committed by co-investors
31 days
Minimum target
87% funded

Historical accounts

No historical accounts

Financial plan

The 5-year financial plan is presented below.

Revenue drivers

The sale of the tag (hardware) of €30 per piece. 20% of the connected tools will be equipped with our own tags.
The subscription per connected tag:
- €1 for each tag of the competition or other BLE tag (which we can also sell without LoRa)
- €3 for our tag (LoRa subscription to be paid to Proximus)

Cost drivers

The development of the platform and the user interface for 2019 is estimated at € 114k.

The purchase of the hardware (1,500 units for 2019) is €30,000

For the part of the solution, such as hosting and LoRa subscription, we arrive at € 6k for 2019

For the personnel part, we expect recruitment in June (CTO) and in September (CSM) for a budget of €126,000 in 2019.

Financial tables

Download Business_Case_HeronTrack_-_SDG20190309_-_LJA20190311.pdf

Break even volume

EBIT of 77.167 € in 2020


This business qualifies for the startup tax shelter. If you meet the conditions, 45% of your investment will be reducted from your personal income taxes. Read more…

Raise summary

Crowd investments €43,300
Committed by co-investors €0
Amount raised €43,300
Min. total fundraising €150,000
Max. total fundraising €300,000
Pre-money valuation €1,000,000
Post-money valuation min. €1,150,000
Post-money valuation max. €1,300,000