Brussels, 26 May 2023

Financial report 2022: €291.878 spent on projects and meetings
In 2022, the total income of ECSWE was €249,970, the total expenses were €291,878, resulting in a negative result of €41,908. The original budget for 2022 was set with a total income of €350,000, total expenses of €296,800, and a projected profit of €53,200.

Two factors explain the negative result of €41,908

First­ly, we changed the bud­get­ing method for the HERMMES project. Instead of book­ing the entire €160,000 project funds as income in the 2022 finan­cial year, we ear­marked €99,939 as “HERMMES project funds to car­ry for­ward” into 2023.

Sec­ond­ly, infla­tion in 2022 caused sig­nif­i­cant spend­ing increas­es across bud­get lines such as staff costs, office costs and PR, result­ing in approx­i­mate­ly €15,500 of unplanned expenditures.

Recharging our reserves in 2023 and 2024 is of strategic importance

To cov­er the loss­es of 2022, ECSWE can use ded­i­cat­ed reserves of €40,500. How­ev­er, in 2023, we need to either increase income or find ways to cut costs. We also need to build up sav­ings to increase our finan­cial flex­i­bil­i­ty. Our goal is to bring the reserves up to €100,000 over the course of 2023 and 2024.

Budget vs. profit and loss statement (€)

Income 2022

Bud­get 2022 Result 2022
Mem­ber­ship fees 180.000 Mem­ber­ship fees 178.882
ERASMUS Projects 168.000 ERASMUS Projects 68.254
Oth­er income 2.000 Oth­er Income 2.834
Total 350.000 Total 249.970

Expenses 2022

Bud­get 2022 Result 2022
Staff costs* 132.000 Staff costs* 142.521
ERASMUS Projects** 82.000 ERASMUS Projects** 63.469
Oper­a­tions and activities 82.800 Oper­a­tions and activities 85.888
Total 296.800 Total 291,878

Result 2022

Bud­get­ed result 2022 53.200 Result end 2022 - 41,908
* 3 full time equivalents;
** ERASMUS project on per­son­alised assess­ment and HERMMES project on media education.

A question? Please don’t hesitate to contact us!

Georg Jürgens