Invest Europe | Annual Report 2024 | Financial statements

Financial statements

Profit and loss (€)

Notes Memberhip revenue were slightly below budget Event registrations were below budget; however, this was offset by cost reductions Training registrations are below budget, primarily due to the economic downturn Interest income on cash investments is on budget (initially recorded separately as revenue and taxes during the budget phase) Internal and external projects were funded by the Reserves
	Notes	Actual 2023	Budget 2024	Actual 2024
Membership	1	7,317,950	7,638,500	7,568,675
Events	2	1,359,479	1,410,000	1,327,009
Training	3	503,215	586,857	468,799
Sponsorship of publications		11,000	34,000	4,000
Service fees		60,000	60,000	104,000
Bank interest and miscellaneous	4	82,343	194,540	163,034
Other revenue		437	0	3,168
Total Revenue		9,334,425	9,923,897	9,638,685
Personnel costs		4,935,537	5,174,000	5,194,031
Professional services		1,727,899	2,104,348	1,868,249
Housing costs		203,106	256,098	258,875
Accommodation events		689,390	791,810	664,459
Travel and representation		205,493	346,471	289,663
Communications		16,465	21,100	17,595
Printing and audio-visuals		400,432	484,376	421,299
Various office costs		452,462	594,103	632,939
Finance costs		58,361	55,600	57,651
Provision for doubtful debtors		113,000	100,000	108,724
Provision/other costs	4	37,616	138,540	86,308
Total Expenses		8,839,761	10,066,447	9,599,791

Net operating results		494,664	-142,550	38,893
Project funded by Invest Europe General Reserves	5	544,473	308,000	243,979
Total exceptional expenses		544,473	308,000	243,979

Net result		-49,809	-450,550	-205,086

Notes Growth in membership fee, including indexation in 2025 Expected interest income from cash investments Impact of the compulsory Belgian salary indexation in 2024 and planned for 2025 Increase in professional fees due to the rise in the number of deliverables and roundtables. Several internal and external projects will be funded by the Reserves
	Notes	Actual 2024	Budget 2025
Membership	1	7,568,675	7,861,824
Events		1,327,009	1,384,500
Training		468,799	477,742
Sponsorship of publications		4,000	34,000
Service fees		104,000	220,000
Bank interest and miscellaneous	2	163,034	105,000
Other revenue		3,168	0
Total Revenue		9,638,685	10,083,066
Personnel costs	3	5,194,031	5,212,000
Professional services	4	1,868,249	2,217,211
Housing costs		258,875	277,226
Accommodation events		664,459	747,926
Travel and representation		289,663	326,922
Communications		17,595	20,230
Printing and audio-visuals		421,299	446,500
Various office costs		632,939	580,091
Finance costs		57,651	46,780
Provision for doubtful debtors		108,724	100,000
Provision/other costs		86,308	89,150
Total Expenses		9,599,791	10,064,036

Net operating results		38,893	19,030
Project funded by Invest Europe General Reserves	5	243,979	440,000
Total exceptional expenses		243,979	440,000

Net result		-205,086	-420,970

Notes Receivables: includes 2025 sponsorship fees and other outstanding receivables yet to be collected Deferred charges: covers deposits for 2025 Events including Investors Forum, CFO and Chair Dinners and as well as operational charges such as 2025 subscriptions, Q1 2025 rent, and other 2025-related expenses Deferred income: Includes free rent granted by the landlord (amortized over nine years), and 2025 registration and sponsorship fees for the Investors Forum, CFO Forum and Training
	Notes	Dec 2023	Dec 2024
General reserves
Opening balance		6,152,039	6,102,230
Attribution of profit (+)/loss (-)		-49,809	-205,086
Closing balance		6,102,230	5,897,144
Provisions		13,000	31,332
Current liabilities
Suppliers		240,624	458,911
VAT		38,431	13,316
Payroll accruals		1,344,286	1,298,390
Deferred income	3	574,275	544,708
Total current liabilities		2,197,616	2,315,325

Total liabilities		8,312,845	8,243,801