Brussels, 24 April 2025

Financial report 2024: €483.210 spent on regular activities and projects

In 2024, ECSWE’s total income was €511.863, the total expenses were €483.210, and we ended the year with a positive result of €28.653.

The following factors explain our positive result

In 2024 we had bud­get­ed an income of €521.750 and expens­es of €520.000, where­as our actu­al income was €511.863 and our actu­al expens­es amount­ed to €483.210. The low­er income can be explained by delayed spend­ing on the HERMMES project and a cor­re­spond­ing income trans­fer to 2025, where­as all oth­er income could be realised with­in the expect­ed range.
On the expens­es side, we man­aged to keep our staff and office costs sta­ble, made mod­er­ate sav­ings on trav­el and PR, and spent con­sid­er­ably less than bud­get­ed on activ­i­ties. The sav­ings made on the HERMMES project do not affect the result as they are evened out by a cor­re­spond­ing income trans­fer for activ­i­ties in 2025.

Budget versus profit and loss statement (€)

Savings in 2024 allow for extra resources in 2025 budget

Due to sav­ings made in 2024, addi­tion­al funds can be made avail­able in 2025 when the end of the HERMMES project (on 31 March 2025) leaves a fund­ing gap in our bud­get. The extra fund­ing will allow for a thor­ough dis­sem­i­na­tion of the HERMMES project in 2025 and nec­es­sary adjust­ments of staff costs to account for infla­tion, grow­ing work expe­ri­ence, and senior­i­ty of our team. Thanks to this pos­i­tive result, we can also keep our pro­vi­sion for staff costs sta­ble at €100.000.