Advance Insight B.V.
Odoo Gold partner, Nairobi and the Netherlands. The shareholders have decided to sell, and we are coming to you.
This page holds the information behind that conversation: what the company is, who the team is, what the numbers have done over five years and this year, what the cost base looks like, and the terms we propose. The figures are management accounts from our own Odoo administration, unaudited. The audited statements are available on request. Where something is uncertain or still being cleaned up, it says so.
All four shareholders have decided to sell. Douwe stepped back from the operational role in July 2026.
We are speaking with Elewa only, and would run the negotiation exclusively with you.
We aim to sign by the end of October 2026.
Figures are Odoo actuals: five years to 2025, plus January to June 2026. Management accounts, unaudited.
Odoo Gold partner, five years of delivery across East Africa. Two entities, one share transaction. The founders are stepping back. The delivery organisation stays intact.
The entity you buy. No employees. It holds two freelance contracts (senior consulting and engineering) and the NL office lease (€4K/mo), which ends Oct–Nov 2026.
The operating company. All employment contracts sit here: the team, the Nairobi office, the delivery operation.
Shareholders (each via a personal holding): Douwe van Loenen 35% · Tabitha Gerrets 25% · Peter Bleeker 20% · Sjoerd Herms 20%. All four mandate this transaction.
The delivery team
Certified Odoo consultants in Nairobi, with stable output: 1,700–1,860 hours logged every month this year, June the highest. The team came through the founder transition intact. Outgoing leadership fees (≈€16.8K/month: CEO €10K and Head of Engineering €6.8K) are out of the continuation run rate. Neither role is needed to run the company as it stands. The Head of Engineering stays through the end of 2026 either way, and is available beyond that for as long as you want him. Flexible, not a fixed handover window. Continuity at CEO level can be arranged separately if you want it.
sourcetimesheets Jan–Jul 2026 · 9,405 lines · extracted 23-07-2026The client book
25+ paying support relationships across energy, agri, pharma, mobility and FMCG. The largest client is 23% of support, the top five around 50%.
sourceOdoo posted journals · account 44000 · NL + KE entitiesFrom implementation to support
Completed implementations become recurring support. Mobile Power, Moto Gari and SECO all converted in April–May 2026.
sourcethree implementation→support conversions Apr–May 2026Certified, Nairobi-based, intact through the transition. Full CVs, certifications and contracts sit in the data room.
Ivo Beniest
Head of OperationsOwns the client relationships, commercial follow-up and escalation, and stays billable. Led the July demand-generation restart. Transfers with a retention package.
Jake Onyango
Odoo ConsultantFunctional consultant across implementations and the support book.
Dennis Ndegwa
Functional ERP ConsultantFunctional Odoo consultant, implementations and support.
Deepali Bhatt
Odoo ConsultantFunctional consultant across the client book.
Prince Muhimpundu
Odoo ConsultantFunctional consultant. Part of the July demand-generation restart.
Wilson Wambugu
Odoo ConsultantFunctional consultant, implementations and support.
Louis Korir
Project Manager / ConsultantProject management on converted implementations, billing as a consultant in between. Part of the July demand-generation restart.
Sebastiaan Ton
Senior Odoo ConsultantSenior functional consultant on a freelance basis. Flexible senior capacity that scales with demand.
Revenue has risen every single year since the company started: €164K to €1.36M, a little over eight times in four years, and 26% a year compounded across the last three. Consolidated NL and Kenya, inter-company eliminated.
Revenue by financial year, with year-on-year growth. 2021 was the first, part year of trading, which is why 2022 shows the step it does. The three years since have compounded at 26%.
Consolidated performance, 2021 – 2025
| € · NL + KE consolidated | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 163,509 | 680,269 | 848,901 | 1,039,667 | 1,362,984 |
| Year-on-year growth | — | +316% | +25% | +22% | +31% |
| Gross profit | 46,963 | 169,013 | 246,489 | 219,632 | 318,804 |
| Gross margin | 28.7% | 24.8% | 29.0% | 21.1% | 23.4% |
| EBITDAoperating result before FX, interest, tax and depreciation | 17,841 | 27,020 | 76,926 | 25,796 | 18,024 |
| Management fees inside the aboveshareholder fees, account 61020, these do not transfer | 58,000 | 136,592 | 180,000 | 240,000 | 240,000 |
| EBITDA before management fees | 75,841 | 163,611 | 256,926 | 265,796 | 258,024 |
What it earns without the shareholders in it
The company was built to grow, not to distribute. Reported EBITDA looks thin because the P&L carries the shareholders' own management fees, €240,000 a year in 2024 and 2025. Add those back, and what the business actually earns has been steady: €257K, €266K and €258K across the last three years. Those fees do not transfer with the company. Section 07 prices the cost base without them.
These are management accounts, unaudited, prepared on a consistent basis year to year and stated conservatively: inter-company income is eliminated in every year, and where two extracts disagree we have used the lower figure. The audited financial statements are available on request.
Support has run at about €45.5K a month over the first half of 2026, through a founder transition and six months without a sales push.
Average support / month
January–June 2026, or €510–545K annualised.
External clients only
The same average with our own internal projects (R&D and internal admin) stripped out: €2.9K a month.
Support clients
Largest is 23% of support, top five around 50%.
Odoo commissions / month
€53,400 booked over the first seven months of 2026.
Monthly range
The band across Jan–Jun. Support moves month to month without a trend.
H1 support billed
January–June 2026, NL + KE combined. Ties to the monthly P&L in section 05.
Source: posted journals, account 44000 Odoo Support, NL + KE entities, extracted 23 July 2026. July journals post at month-end. July timesheets tracked support at €33–37K, and commissions stand at €53,400 for the first seven months of the year.
Inside the book
The five largest support relationships in the first half of 2026, and how the book moved this year. We name only the clients already published as references on our odoo.com partner page. The rest are shown by sector until an NDA is in place.
The largest accounts · H1 support billed
Energy · client 1€62.6KThe largest relationship, at 23% of support. Named in the data room.
Masaka Creamery€20.7KRamped through Q2.
Tire World€18.4KLong-standing account, currently tapering.
Mobile Power€18.3KConverted from implementation in April.
Moto Gari€11.7KConverted from implementation in April.
Movement in the book
New in 2026Mobile Power, Moto Gari, SECO, Jaff's Optical House.
Natural churnA few accounts tapered or ended, as in any support book. New conversions replaced the billing and the monthly total held.
The tailTwenty further accounts across sectors and entities, BasiGo and Hollanda Fair Foods among them.
Data roomPer-client monthly detail, contract terms and notice periods sit in the data room.
Client invoicing fell from €113.6K in January to €74.7K in June. Support was not part of that fall, and €17.5K/month of it took matching costs with it.
Client invoicing only, so grant income sits outside these bars. That is why the monthly P&L below shows a higher total for January through May: it includes the grants. Implementation fell €63.4K to €24.0K while the recurring layers stayed, and June's support plus commission came in at €50.6K. At zero implementation the recurring layers hold about €53K a month.
The monthly P&L, January – June 2026
| € · NL + KE consolidated | Jan | Feb | Mar | Apr | May | Jun | H1 |
|---|---|---|---|---|---|---|---|
| Odoo Implementationincl. scoping | 46,843 | 54,137 | 63,353 | 44,885 | 33,500 | 24,032 | 266,750 |
| Odoo Support | 58,648 | 40,403 | 37,183 | 53,073 | 43,524 | 40,141 | 272,972 |
| Commission Received | 8,087 | 8,556 | 8,242 | 7,763 | 8,530 | 10,501 | 51,679 |
| Grantsincl. R&D product income & corrections | 11,053 | 7,921 | 6,666 | 9,601 | 9,922 | 0 | 45,163 |
| Total income | 124,631 | 111,017 | 115,444 | 115,322 | 95,476 | 74,674 | 636,564 |
| Team & employmentsalaries, management fees & statutory | 83,927 | 78,330 | 76,810 | 76,234 | 81,371 | 68,540 | 465,212 |
| Project costsoutsourced work, travel & discounts | 4,094 | 1,834 | 287 | −461 | −739 | 0 | 5,015 |
| Operating expensesrent, marketing, software & admin | 25,834 | 14,960 | 12,776 | 17,042 | 20,833 | 19,742 | 111,187 |
| EBITDA | 10,776 | 15,893 | 25,571 | 22,507 | −5,989 | −13,608 | 55,150 |
| FX, interest & depreciationnet | 5,325 | −1,113 | −1,014 | 271 | −50 | −1,729 | 1,690 |
| Net result | 16,101 | 14,780 | 24,557 | 22,778 | −6,039 | −15,337 | 56,840 |
Summarised from the posted general ledger, NL + KE, extracted August 2026: Implementation includes scoping. Grants includes grant income, R&D product income and related corrections. EBITDA is the operating result before FX, interest and depreciation. The May and June results carry the full legacy cost base that does not transfer, €30.8K/month of management fees and the Dutch office. section 07 prices the continuation cost base at €39.7K/month.
July: the flow restarted
The Nairobi team relaunched demand generation without the founders: 56 new leads in July, a holiday month in which timesheets tracked €33–37K of support. The CRM carries a tagged shortlist of 22 high-priority leads with real traction.
Four things come with the company besides the client book and the people.
Tax-authority IP, owned
ZRA Smart Invoice (Zambia), RRA EBM (Rwanda), URA EFRIS (Uganda). Mandatory compliance layers, built and deployed by this team, IP confirmed ours.
Market access in three countries, plus per-client reuse. The IP register (repositories, ownership basis, deployment counts) sits in the data room.
Gold status & references
Odoo Gold partner status transfers with the shares: 46 references and 14 certifications on the odoo.com listing (v17–v19) across agriculture, retail, health and more, with an average project of 48 users and the largest at ~400. Measured as references × average project size, about 2,200 users under management.
The per-person certification register of the transferring team sits in the data room.
The scoping & implementation methodology
A fully worked-out way of running Odoo projects: the scoping process, phase and task structure, estimation and acceptance criteria, and the templates behind them. It is what makes a fixed-scope implementation predictable, and it transfers with the company.
Since we adopted it, project overruns came down sharply and upsell on running projects went up. It is directly reusable on your own delivery.
Internal product work
A client portal product (~230 hours invested), a CRM AI action list, AI notification reports and automatic task status updates, all built by this team alongside client work.
€39.7K a month runs the whole operation, including a €4K provision for engineering cover. The employment cost sits in the Kenyan entity. The Dutch holding carries only two freelance contracts and its office lease, which ends this autumn.
People · €32,114/mo
Five certified Odoo consultants and the delivery lead, plus work permits, KE statutory contributions and health cover. Bills at €90/€125 per hour. Standard KE contracts, renewing this year. The delivery lead runs the client relationships after closing and transfers with a retention package.
Not in the run rate: he runs converted implementations and bills to those projects. If you would rather have a dedicated project manager on the team from day one, worth considering if you have no strong PM of your own, he is available for that role. The cost then moves into the fixed base.
Freelance contract under the Dutch holding, currently running two implementations. Scales up or down with the work, with no notice period to carry.
Replaces the outgoing engineering capacity. Your own engineers already have the skills. What they would need is Odoo.
Overhead · €7,604/mo
Co-locating with your office removes most or all of this line. Annual lease.
Partial overlap with your own stack.
Yours to redirect or stop.
Client-driven.
Ad hoc. No running contracts.
Day-to-day running costs of the Nairobi operation.
Already removed or ending · −€30.8K/mo
Stepped back in July 2026. Already out of the run rate.
Out of the continuation run rate. The company as modelled here runs without it, and the client relationships are handed over before closing. If you want continuity at that level afterwards, that is available and arranged separately, at your cost.
Out of the continuation run rate. He stays through the end of 2026 regardless, and longer if you want him, on a flexible paid basis rather than a fixed transition period.
The lease terminates October–November 2026. After that the Dutch holding carries only its two freelance contracts.
Folds into an existing back office.
The arithmetic
Support €40K + implementation €15K + commissions €5K = €60K/mo income, against the €39.7K/mo cost base → €20.3K/mo EBITDA, about €243K a year, engineering cover included.
Every line sits below what the business is actually doing. Support averaged €45.5K a month in H1. Commissions stand at €53,400 for seven months, about €7.6K a month. Implementation billed €24K in June alone, against the €15K assumed here. Nothing in this case needs a single new client.
Absorbing the €4K/month engineering cover (€48K), co-locating the Nairobi office (€36K) and the software overlap (about €7K) lift the same book toward ~€335K/yr. None of that requires new revenue either.
KE contracts renew this year, there is no acquired management layer, and severance exposure is minimal. In a downside case the operation right-sizes in about two quarters.
The questions we would ask in your seat. Short answers here, the evidence in the data room. If one is missing, ask it in meeting one.
Is the recurring revenue actually recurring?
Much of the base bills monthly rather than on multi-year paper. What we can show: the base averaged €45.5K/month through a founder exit and six months without a sales function, 25+ clients have paid it for years, and invoiced support runs slightly above logged hours, which is retainer behaviour rather than loose time-and-material.
A per-client contract audit (term, notice period, auto-renewal, change-of-control) is running now and lands in the data room.
Revenue fell this year. Where is the bottom?
Of the €113.6K January peak, ~€53K was recurring (support plus commissions) and never moved. €17.5K/month of the drop was margin-neutral: grant income matched by grant-funded salaries, and the departing founder's own billing matched by his fee. The rest sits in implementation, down from €63.4K to €24K, so about 60% of the possible decline has already happened. At zero implementation the company runs at ~€53K a month.
Support swings month to month (a €37–59K band) without trending, and the July lead-flow restarts the layer that fell.
Does it run without the old leadership?
It already does. The founders stepped back in stages through H1 2026: 1,700–1,860 hours logged every month, June the highest of the year, support unmoved, and the July lead-flow rebuilt by the Nairobi team on its own.
Engineering continuity is not on a clock: the Head of Engineering stays through the end of 2026 in any case, and is available beyond that for as long as you want him, paid and flexible. Independently of that, the numbers in section 07 already carry a €4K/month provision for permanent engineering cover.
None of the figures here assume any continuing role for the outgoing CEO. If you would rather keep continuity at that level for a period, it can be arranged separately. Your choice, and your cost.
How exposed is the book to its largest client?
The largest client is 23% of support, the top five about 50%, and twenty-plus further accounts carry the rest. The CEO personally holds the top relationships until closing, and handover happens jointly with you.
What state are the books in?
The figures on this page are management accounts, unaudited. The audit is running, and we are booking a conservative clean-up ahead of due diligence, on aged project balances, old tax credits and clearing accounts, rather than leaving you to find them. There is no bank debt anywhere in the group. The audited financial statements, the full balance sheet and the ledgers are available on request.
How real is the tax-authority IP?
Real, ours, and in production: ZRA Smart Invoice (Zambia), RRA EBM (Rwanda), URA EFRIS (Uganda). We present it as market access and reuse revenue, deliberately not as a valuation pillar. The register (repositories, ownership basis, deployment counts per country) sits in the data room.
Why sell, and why now?
Douwe stepped back from the operational role in July 2026, and the founder-led phase is ending. Rather than run the company founder-light through 2027, the four shareholders decided unanimously to choose its next owner now, while the base is strong and the team certified and intact.
The honest fallback, so you can weigh it: if no terms are agreed, nothing winds down. The company continues lean and profitable, at roughly €20K a month EBITDA, with no bank debt. We would rather place it with the right owner, because inside a bigger firm the same operation is worth more than standalone.
Will the team stay?
Acquired terms stay untouched for twelve months and sit above local scale. For the key people we propose a retention package: a bonus on top of salary, paid out only if they are still with the company an agreed period after closing (we suggest twelve months), funded from a pool sized at closing. It is the standard way to hold a delivery team through a change of owner, and the delivery lead is the first name on that list.
What the team lacks today is demand, not reasons to stay.
What do clients hear, and when?
Nothing until signing. Until then the collaboration reads externally as a partnership that adds delivery capacity, which is also simply true. At signing we announce jointly, with the warm handover of the top relationships already done.
One number, all cash. Every clause we leave out shortens the path to closing.
All cash at closing. No earnout, no vendor loan, no deferred tranches to negotiate.
Locked-box per 31 August 2026. The €40K shareholder loan is settled from company cash at closing.
We are speaking with Elewa only. If you want to take this forward, we negotiate with you exclusively and start no parallel process while we do.
We aim to sign by the end of October 2026.
LOI within two weeks of agreement in principle, then three weeks of confirmatory due diligence. No price retrade absent a discovered material issue.
The calendar
A first conversation about fit and the delivery collaboration, then terms in writing.
LOI and exclusivity, then confirmatory due diligence from the pre-packed data room.
SPA and signing, targeted for the end of the month.
Confirmatory DD runs from a pre-packed data room: support contracts, reviewed monthly closings, IP register, continuation model. Two to three weeks for a local, all-cash buyer.
The SPA is locked-box, short and standard. Twenty pages, not eighty.
Meeting one is about fit and the delivery collaboration, not price. The terms above follow in writing once we have spoken.
Contact. Douwe van Loenen, deal lead, mandated by all four shareholders.
This page is a confidential document prepared by the shareholders of Advance Insight B.V. for discussion with a selected party. It is informational only.
No rights can be derived from this page or from any figure, statement or projection on it.
This is not an offer capable of acceptance. Definitive terms exist only in a signed share purchase agreement between the parties.
These are management accounts. All numbers are unaudited management figures per the dates stated, prepared on a consistent basis. The audit and the monthly closings are in progress and will refine them. The audited financial statements are available on request.
Due diligence is required. Any transaction remains subject to confirmatory due diligence, corporate approvals and definitive documentation.
Confidential. Please do not distribute or copy any part of this page without written consent.