Advance Insight · confidential · prepared for Elewa · 3 August 2026 · disclaimer

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.

Where we stand

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.

01
What you would acquire

The company

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.

Netherlands · holding Advance Insight B.V.

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.

Kenya · delivery Advance Insight East Africa Ltd

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.

01.1

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 23-07-2026
01.2

The 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 entities
01.3

From 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 2026
02
The people

The team that transfers

Certified, Nairobi-based, intact through the transition. Full CVs, certifications and contracts sit in the data room.

IB

Ivo Beniest

Head of Operations

Owns the client relationships, commercial follow-up and escalation, and stays billable. Led the July demand-generation restart. Transfers with a retention package.

NairobiBillable
JO

Jake Onyango

Odoo Consultant

Functional consultant across implementations and the support book.

NairobiBillable
DN

Dennis Ndegwa

Functional ERP Consultant

Functional Odoo consultant, implementations and support.

NairobiBillable
DB

Deepali Bhatt

Odoo Consultant

Functional consultant across the client book.

NairobiBillable
PM

Prince Muhimpundu

Odoo Consultant

Functional consultant. Part of the July demand-generation restart.

NairobiBillable
WW

Wilson Wambugu

Odoo Consultant

Functional consultant, implementations and support.

NairobiBillable
LK

Louis Korir

Project Manager / Consultant

Project management on converted implementations, billing as a consultant in between. Part of the July demand-generation restart.

NairobiProject-based
ST

Sebastiaan Ton

Senior Odoo Consultant

Senior functional consultant on a freelance basis. Flexible senior capacity that scales with demand.

FreelanceRemote
notethe Head of Engineering stays through the end of 2026 and is available beyond that on a flexible basis · roles per HR records, 24-07-2026
03
2021 – 2025

Five years of growth

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.

€164K €680K €849K €1.04M €1.36M 2021 2022 2023 2024 2025 start +316% +25% +22% +31%

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 consolidated20212022202320242025
Revenue163,509680,269848,9011,039,6671,362,984
Year-on-year growth+316%+25%+22%+31%
Gross profit46,963169,013246,489219,632318,804
Gross margin28.7%24.8%29.0%21.1%23.4%
EBITDAoperating result before FX, interest, tax and depreciation17,84127,02076,92625,79618,024
Management fees inside the aboveshareholder fees, account 61020, these do not transfer58,000136,592180,000240,000240,000
EBITDA before management fees75,841163,611256,926265,796258,024

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.

04
Recurring revenue

The support base

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.

€45.5K

Average support / month

January–June 2026, or €510–545K annualised.

€42.6K

External clients only

The same average with our own internal projects (R&D and internal admin) stripped out: €2.9K a month.

25+

Support clients

Largest is 23% of support, top five around 50%.

€7.6K

Odoo commissions / month

€53,400 booked over the first seven months of 2026.

€37–59K

Monthly range

The band across Jan–Jun. Support moves month to month without a trend.

€273K

H1 support billed

January–June 2026, NL + KE combined. Ties to the monthly P&L in section 05.

58.7 JAN 40.4 FEB 37.2 MAR 53.1 APR 43.6 MAY 40.2 JUN
Support (€K)Implementation & scoping (€K)Average support €45.5K/mo

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€62.6K

The largest relationship, at 23% of support. Named in the data room.

Masaka Creamery€20.7K

Ramped through Q2.

Tire World€18.4K

Long-standing account, currently tapering.

Mobile Power€18.3K

Converted from implementation in April.

Moto Gari€11.7K

Converted from implementation in April.

Movement in the book

New in 2026

Mobile Power, Moto Gari, SECO, Jaff's Optical House.

Natural churn

A few accounts tapered or ended, as in any support book. New conversions replaced the billing and the monthly total held.

The tail

Twenty further accounts across sectors and entities, BasiGo and Hollanda Fair Foods among them.

Data room

Per-client monthly detail, contract terms and notice periods sit in the data room.

05
Full transparency

Where the revenue moved

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.

113.6 JAN 103.1 FEB 108.8 MAR 105.8 APR 85.5 MAY 74.7 JUN
SupportOdoo commissionsImplementation & scopingSupport + commissions ≈ €53K/mo

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.

Implementation fell €63K → €24K. Support did not move. Start with the part that never touched margin. Until May, ~€7.5K/month of grant income sat in the top line, matched one-for-one by €7.5K/month of grant-funded salaries. Both are gone, netting to zero. The departing founder billed ~€10K/month and cost ~€10K/month in fees, again revenue and cost leaving together. That is €17.5K/month of the decline that was margin-neutral by construction. The remainder sits in implementation, where the driver is a demand-generation gap: the founders stopped selling in spring and nobody replaced the top of the funnel. Of the €63.4K of implementation billed in January, €24K is left. About 60% of the possible decline has already happened, and what is still exposed is €24K a month.

The monthly P&L, January – June 2026

€ · NL + KE consolidatedJanFebMarAprMayJunH1
Odoo Implementationincl. scoping46,84354,13763,35344,88533,50024,032266,750
Odoo Support58,64840,40337,18353,07343,52440,141272,972
Commission Received8,0878,5568,2427,7638,53010,50151,679
Grantsincl. R&D product income & corrections11,0537,9216,6669,6019,922045,163
Total income124,631111,017115,444115,32295,47674,674636,564
Team & employmentsalaries, management fees & statutory83,92778,33076,81076,23481,37168,540465,212
Project costsoutsourced work, travel & discounts4,0941,834287−461−73905,015
Operating expensesrent, marketing, software & admin25,83414,96012,77617,04220,83319,742111,187
EBITDA10,77615,89325,57122,507−5,989−13,60855,150
FX, interest & depreciationnet5,325−1,113−1,014271−50−1,7291,690
Net result16,10114,78024,55722,778−6,039−15,33756,840

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.

06
Beyond the book and the team

What transfers with the shares

Four things come with the company besides the client book and the people.

06.1

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.

06.2

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.

06.3

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.

06.4

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.

sourceodoo.com partner listings · July 2026 · users under management = references × average project size
07
Salaries & overhead

The cost base, line by line

€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

Kenya delivery teamsix people, including employment on-costs
€25,614
Billable

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.

Project managementoptional, the PM / consultant in section 02
€0
Optional

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.

Senior consultantfreelance, ~12 hrs/week
€2,500
Flexible

Freelance contract under the Dutch holding, currently running two implementations. Scales up or down with the work, with no notice period to carry.

Engineering coverprovision: one strong or two standard developers
€4,000
Absorbable

Replaces the outgoing engineering capacity. Your own engineers already have the skills. What they would need is Odoo.

Overhead · €7,604/mo

RentNairobi office
€2,980
Overlap

Co-locating with your office removes most or all of this line. Annual lease.

Software & tooling
€1,156
Overlap

Partial overlap with your own stack.

Marketing
€867
Discretionary

Yours to redirect or stop.

Travel
€867
Discretionary

Client-driven.

External consultancy
€578
Discretionary

Ad hoc. No running contracts.

Office & other
€1,156
Scales

Day-to-day running costs of the Nairobi operation.

Already removed or ending · −€30.8K/mo

Founder fee
€10,000
Removed

Stepped back in July 2026. Already out of the run rate.

CEO fee
€10,000
Removed

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.

Head of Engineering fee
€6,800
Removed

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.

NL office rentDutch holding
€4,000
Ends Oct–Nov

The lease terminates October–November 2026. After that the Dutch holding carries only its two freelance contracts.

Finance & admin
€0
Absorbable

Folds into an existing back office.

The arithmetic

Base case

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.

Why those numbers

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.

In a combined firm

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.

Exitability

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.

08
Straight answers

Questions and answers

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.

09
The terms

The offer

One number, all cash. Every clause we leave out shortens the path to closing.

€350,000for 100% of the shares in Advance Insight B.V., which includes the Kenyan operating company.
Structure

All cash at closing. No earnout, no vendor loan, no deferred tranches to negotiate.

Mechanism

Locked-box per 31 August 2026. The €40K shareholder loan is settled from company cash at closing.

Exclusivity

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.

Timing

We aim to sign by the end of October 2026.

Process

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

August

A first conversation about fit and the delivery collaboration, then terms in writing.

September

LOI and exclusivity, then confirmatory due diligence from the pre-packed data room.

October

SPA and signing, targeted for the end of the month.

How the process stays short

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.

Numbers: Odoo actuals, NL + KE · no rights derive from this page · full disclaimer
10
Basis of preparation

Disclaimer

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.

Please read this as follows

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.

Advance Insight B.V. · 3 August 2026