The value of transparency

 

Fani Cuevas | Director of Administration and Finance

“Efficiency starts with people and translates into results with social and environmental value.”

In 2024 Fundación ECOTIC continued to strengthen its financial control and planning mechanisms, enabling more efficient resource allocation and ensuring management that is fully aligned with our mission.

 

The financial year closed with a very positive result of €8,426, successfully meeting the budgetary aim of maintaining fully balanced accounts with zero profit, as is typically expected of a non-profit organisation committed to transparency and responsible financial management.

 

Costs linked to WEEE management –including transport, collection and treatment, as well as payments to installers, distributors and local authorities – once again represented the organisation’s main expense, accounting for 88.5% of total outgoings compared with 85% the previous year, underscoring our focus on core activities.

 

Communication expenses fell to 4%, down from 6.7% in 2023, while structural costs decreased to 6.6% from 7.3%. This reduction is mainly due to the fact that in 2024 the IT system-related assets (and their associated costs) are now accounted for under ECOTIC Entidad Administradora S.L., having been formally transferred as a non-cash contribution in June 2023. In addition, the structure for managing waste in the air-conditioning category was moved in 2024 to Fundación ECOTIC Clima, enhancing efficiency and clarity in management.

ECOTIC Entidad Administradora S.L., established in 2021 on the initiative of Fundación ECOTIC, continues to consolidate its role within the new organisational structure as a vehicle for improving operational efficiency and creating synergies that benefit member producers.

 

Its work focuses on providing specialised services to organisations managing extended producer responsibility systems, as well as planning, organising and financing waste management operations.

 

In 2024 ECOTIC Entidad Administradora S.L. recorded a positive result of €18,046, fully meeting the year’s forecasts.

ECOTIC Entidad Administradora Balance Sheet

31 december 2024 (euros)

ASSETS

NON-CURRENT ASSET658,755
Intangible assets514,876
Tangible fixed assets101,261
Long-term financial investments42,618
CURRENT ASSETS1,009,960
Trade receivables and other accounts receivable492,199
Short-term financial investments93,241
Cash and cash equivalents424,520
TOTAL ASSETS1,668,715

LIABILITIES

EQUITY484,173
Founders’ endowment30,000
Retained earnings from previous years445,747
Profit for the year8,426
LIABILITIES17,180,570
Short-term debt268
Trade payables and other accounts payable17,180,302
TOTAL EQUITY AND LIABILITIES17,664,743

ECOTIC Entidad Administradora Income Statement

31 december 2024 (euros)

CONTINUOUS OPERATIONS

ENTITY INCOME FROM SERVICE PROVISION2,887,880
Supplies-445,249
Other operating income1,815
Personnel expenses-1,377,917
Other operating expenses-768,456
Depreciation of fixed assets-271,712
Impairment and gain/loss on disposal of fixed assets-936
OPERATING PROFIT25,425
Financial and other expenses-365
FINANCIAL RESULT-365
PROFIT BEFORE TAX25,060
Income tax-7,014
SURPLUS FOR THE YEAR18,046