Financial Reports

In 2024, ESAIC reported a total revenue of € 8,336,148 and total expenses, including financial charges, of € 8,589,875. This resulted in a negative outcome of €253,727 for the fiscal year. Despite the continued decline in revenue, the financial result shows an improvement compared to the previous year. A notable increase in financial income contributed to partially offsetting the operational deficit, reflecting prudent financial management in a challenging fiscal environment.

The ESAIC continues to invest in key projects and educational activities that support its members, even if not immediately profitable. While a break-even point is not expected soon due to recent changes, initiatives are underway to restore financial balance.

The Board affirms the use of the going concern assumption, reflecting confidence in the society’s financial stability. Despite recent losses, ESAIC maintains strong capital and reserves, ensuring ongoing support to members and exploration of new revenue opportunities.

Message from the Treasurer

Dear ESAIC members, Dear colleagues,

As Treasurer of the European Society of Anaesthesiology and Intensive Care (ESAIC), I am pleased to share with you the Treasurer’s Report for the financial year 2024.

ESAIC is an international non-profit organisation based in Brussels, Belgium, operating under Belgian law (BE0447 289 368). Our accounts are prepared in line with Belgian fiscal regulations and are audited annually by VRC Registered Auditors.

Since 2020, ESAIC has adapted to significant challenges, including the COVID-19 pandemic and broader economic uncertainty. These circumstances led us to revise our strategy, reduce or adjust certain activities, and apply cost-saving measures. We transitioned many initiatives to virtual formats and introduced contingency measures to help stabilise our finances.

In 2024, ESAIC reported a negative result of €253,727. However, this marks an improvement from 2023 and much better results than the approved budget for 2024, reflecting continued financial discipline and strong investment performance.

In 2024, we initiated a long-term investment plan to enable us to utilise profits from our investments regularly for the benefit of our members, for grants, and various educational activities.

Our financial foundation remains solid, and ESAIC remains debt-free, and actually has overall growth in assets compared to previous years. Investment gains made in 2024 will be used to support member benefits and future activities.

I would like to thank our CEO, Cathy Weynants, and the ESAIC Office for their commitment and professionalism. I also thank our finance partners—European VAT Desk, Deloitte Accountancy, and our Finance & HR Manager, Ilse Decraen—for their valuable support.

As Treasurer, I continue to monitor our investments closely and support the Board in making decisions that ensure the long-term stability and growth of the Society. Our goal remains clear: to maintain financial health while advancing our mission to serve members and improve patient care.

This report provides a clear and accurate overview of ESAIC’s financial position for 2024.

Warm regards,

The Treasurer,
Orit Shick