Optimising resources to deliver the best service
Fani Cuevas | Head of Administration and Finance
Fani Cuevas | Head of Administration and Finance
In this section, we detail the distribution of costs related to Fundación ECOTIC’s primary mission during the financial year, which involves fulfilling obligations under the Extended Producer Responsibility for WEEE.
The entity achieved a result of €7,020, aligning with the budgetary objective of maintaining an operating result nearing zero, typical of a non-profit organisation.
Management of waste electrical and electronic equipment (WEEE), encompassing activities like transportation, collection, treatment, compensations to installers, distributors and local entities, remained the Foundation’s highest expense at 84.8%, closely mirroring the previous year’s 85%. Specifically analysing this aspect compared to 2022, there was a 15.8% increase, driven mainly by a 13.27% rise in collections and a slight 2.22% increase in management costs per tonne.
As for communication, it constituted 6.7% of the Foundation’s total expenses in 2023, up from 6% the previous year.
It is worth noting that when comparing this specific item to 2022, the figure has increased by 29.5%, primarily due to the allocation for ECOTIC’s Own Actions, which more than doubled compared to last year (216%), in line with our goal to raise awareness among people about proper recycling of electronic devices and their reuse.
The portion allocated to overhead costs has remained at a similar percentage, decreasing slightly from 7.6% in 2022 to 7.3% in 2023. This expense increased by 11.8% from 2022 as we temporarily strengthened the team in certain areas and invested in improving IT platforms and similar tools to enhance the service provided by ECOTIC.
Regarding other management costs, they decreased from 1.4% in 2022 to 1.2% in this financial year. The largest cost in this category is Credit Insurance, which has been reduced by 5% due to the Foundation’s low incidence of claims.
ECOTIC Administradora S.L. originated from an initiative by Fundación ECOTIC, which appointed it as its sole partner on 15 July 2021, although its business operations did not begin until 1 January 2022.
The establishment of this administrative entity forms part of an organisational restructuring within ECOTIC, aimed at enhancing operational synergies and improving management efficiency for producers associated with the Foundation.
Its primary mission is to provide services to entities managing extended producer responsibility systems, along with other stakeholders involved in these activities.
Additionally, this company is responsible for planning, organising, managing and financing waste management, overseeing these operations and providing maintenance. In the 2023 financial year, the entity achieved a positive result of €29,757, aligning well with its annual budget projections. Furthermore, the Fundación ECOTIC Board of Trustees unanimously agreed, in accordance with Article 24 of the Foundations Act 50/2002, to establish a new foundation named Fundación ECOTIC Clima.
This foundation commenced the authorisation process in early 2022, and after a rigorous procedure, the authorisation resolution was issued on 15 March 2024. This authorisation covers electronic devices in the categories of domestic air conditioning equipment and professional-use temperature exchange equipment.
(Figures in euros)
NON-CURRENT ASSETS | 1.376.854 |
Intangible fixed assets | 52.411 |
Tangible fixed assets | 119.208 |
Long-term financial investments | 664.920 |
Long-term investments in group and associated companies | 538.960 |
Deferred tax assets | 1.355 |
CURRENT ASSETS | 19.984.243 |
Users and debtors of own activity | 8.957.766 |
Trade receivables and other receivables | 1.278.144 |
Short-term financial investments | 3.000.000 |
Cash and cash equivalents | 6.748.333 |
TOTAL ASSETS | 21.361.097 |
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NET EQUITY | 475.747 |
Foundational endowment | 30.000 |
Excess from previous financial years | 438.727 |
Excess of the financial year | 7.020 |
CURRENT LIABILITIES | 20.885.350 |
Short-term debts | 231 |
Short-term debts with group and associated companies | 99 |
Trade creditors and other accounts payable | 20.875.181 |
Other debts | 9.839 |
TOTAL NET EQUITY AND LIABILITIES | 21.361.097 |
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(Figures in euros)
INCOME FROM ENTITY’S OWN ACTIVITY | 31.760.290 |
Purchases | -30.575.555 |
Personnel expenses | -25.467 |
Other operating expenses | -2.291.537 |
Depreciation of fixed assets | -150.634 |
Excess provisions | 1.170.117 |
Other results | 78.087 |
OPERATING RESULT | -34.699 |
Financial income | 48.025 |
Financial expenses and others | -4.125 |
FINANCIAL RESULT | 43.900 |
RESULT BEFORE TAXES | 9.201 |
Income tax | -2.181 |
EXCESS OF THE YEAR | 7.020 |
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(Figures in euros)
NON-CURRENT ASSETS | 466.807 |
Intangible fixed assets | 374.851 |
Tangible fixed assets | 59.739 |
Long-term financial investments | 32.217 |
CURRENT ASSETS | 796.086 |
Trade receivables and other receivables | 378.329 |
Short-term investments in group and associated companies | 99 |
Cash and cash equivalents | 417.658 |
TOTAL ASSETS | 1.262.893 |
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NET EQUITY | 409.142 |
Capital | 363.960 |
Reserves | 15.425 |
Excess of the financial year | 29.757 |
PNON-CURRENT LIABILITIES | 150.000 |
Long-term debts with group and associated companies | 150.000 |
CURRENT LIABILITIES | 703.751 |
Short-term debts | 3.484 |
Trade creditors and others | 700.267 |
TOTAL NET EQUITY AND LIABILITIES | 1.262.893 |
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(Figures in euros)
ENTITY’S INCOME FOR SERVICES RENDERED | 2.324.740 |
Purchases | -416.214 |
Other operating income | 286 |
Personnel expenses | -1.156.317 |
Other operating expenses | -604.366 |
Depreciation of fixed assets | -108.357 |
Impairment and result from disposal of fixed assets | -650 |
Other results | 1.173 |
OPERATING RESULT | 40.295 |
Financial expenses and others | -370 |
FINANCIAL RESULT | -370 |
RESULT BEFORE TAXES | 39.925 |
Income tax | -10.168 |
EXCESS OF THE YEAR | 29.757 |
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