Proven efficiency and solvency
Fani Cuevas – Administration and Finance Manager
“In 2020 we managed to keep increasing collection volumes and promoting a number of communication actions, maximising available resources to the environment’s benefit”.
At the close of 2020, Ecotic Foundation secured a surplus of €7,666, which came from the individual surpluses of the Foundation’s different Activity Sectors. Within our entity’s founding purpose, the cost items presented below remain at very similar percentages to the previous year.
The percentage referring to WEEE management, which includes transport, processing, collection, compensation to installers and distributors and compensation to local authorities represents 87.5% of the total. This item has increased by 8.7% compared to the previous year, largely due to the growth in volumes managed by Ecotic: 2.76% more tons collected and processed compared to 2019 (1.59% in household waste and 15.57% in professional waste) and due to the downward trend in the prices of materials during 2020 that directly affected the cost of processing.
As for Communication, more effort has been dedicated to this item, it being 18.8% higher than the previous year. The main reason is the execution of our own communication actions aimed at installers of air-conditioning and refrigeration devices, and sensitisation actions aimed at consumers, all oriented towards promoting recycling and increasing the collection volumes of such devices.
The Structure item fell by 2.2% compared to 2019 and ended up well below the forecast we made in the 2020 budget, mainly due to the health crisis we suffered due to Covid-19, which forced us to adapt remote-working methods, which led to a drastic reduction in work related travels.
Other management costs also fell, by 2.7% and we note that we have had practically no debts due to non-payment, despite the global pandemic.
BALANCE SHEET
31 December 2020 (euros)
Audited accounts approvated by the Board of Trustees.
| ASSETS | |
| NON-CURRENT ASSETS | 1,497,248 |
|---|---|
| Intangible assets | 133,310 |
| Tangible assets | 250,606 |
| Long-term financial investments | 1,107,911 |
| Deferred tax assets | 5,421 |
| CURRENT ASSETS | 15,348,783 |
| Trade and other receivables | 10,502.8882 |
| Cash and cash equivalents | 4,845,901 |
| TOTAL ASSETS | 16.846.031 |
| LIABILITIES | |
| NET WORTH | 450,634 |
|---|---|
| Founding capital | 30,000 |
| Surpluses from previous financial years | 412,968 |
| Surplus of the FY | 7,666 |
| CURRENT LIABILITIES | 16,395,397 |
| Short-term debts | 314 |
| Trade and other payables | 16,248,491 |
| Other liabilities | 146,592 |
| TOTAL NET WORTH and LIABILITIES | 16.846.031 |
PROFIT AND LOSS ACCOUNT
31 December 2020 (euros)
Audited accounts approvated by the Board of Trustees.
| CONTINUING OPERATIONS | |
| INCOME RECEIVED BY THE ENTITY FOR ITS OWN ACTIVITY | 28,672,889 |
|---|---|
| Procurements | -27,313,022 |
| Other operating income | 5,359 |
| Staffing costs | -849,069 |
| Other operating expenses | -752,557 |
| Depreciation of fixed assets | -195,989 |
| Overprovisions | 449,358 |
| Other results | 1,981 |
| OPERATING RESULT | 18,950 |
| Financial income | 770 |
| Financial and other expenses | -10,051 |
| FINANCIAL RESULT | -9,281 |
| RESULTS BEFORE TAX | 9,669 |
| Profit tax | -2,003 |
| SURPLUS OF THE FY | 7,666 |