FINANCIAL STATEMENT Impact is at the core of Tony’s Open Chain. Together with Mission Allies, we prove that ethical sourcing through pre-competitive collaboration is not only the right choice – it’s more effective, and ultimately more financially attractive than doing it alone. We embed the costs of implementing the 5 Sourcing Principles and our mission directly into our financial model, distributing them fairly across all Mission Allies. These costs reflect our shared commitment to driving meaningful change. We also receive grants and acceleration funding to invest in innovations that continue to raise the bar. Our approach is built on a simple principle: when we scale, both cocoa farmers and Mission Allies are better off financially. Cocoa farmers are at the centre of our programming, ensuring and enabling their prosperity is prioritised. All Mission Allies play a key role in this shared success. Considering our year-on-year trend, we see that sharing the costs, benefits all Mission Allies over time. Along the way, we are gaining valuable insights into the costs of scaling and how to leverage synergies most effectively. We are carefully building a future-proof approach that can scale our impact and cocoa delivery, whilst operating in a volatile cocoa market. What does this cost-sharing approach mean for our financial results? We are ultimately mission-focussed; that means that we do not make a profit in a traditional sense.. When delivering a positive financial result, it is reinvested into our business model in one of 3 ways. It can act as a risk buffer, as acceleration funding - to support scaling efforts or innovations in the 5 Sourcing Principles – or allow a lowering of costs for all Mission Allies.
FY 2023/24
FY 2024/25
Total revenue
€4,104,818
€6,286,371
Programme fees
€2,083,454
€3,363,091
Governance fees
€1,607,604
€2,370,236
Risk margin
€352,799
€553,044
Other revenue
€60,961
€ —
Programme costs
(€2,798,921)
(€3,340,275)
5 Sourcing Principles
(€1,467,833)
(€1,948,047)
Personnel & running costs (€1,063,363)
(€1,189,087)
Research, assurance & innovation
(€267,725)
(€203,141)
Governance costs
(€1,886,280)
(€2,561,729)
Total operating expenses
(€4,685,202)
(€5,902,004)
Net result
(€580,383)
€384,367
As a full subsidiary of Tony’s Chocolonely, the Tony’s Open Chain P&L is consolidated in the Tony’s Chocolonely P&L (identifiable within the Tony’s Chocolonely P&L as ‘Tony’s Open Chain result’ as listed in the Tony’s Chocolonely 2023/24 Annual FAIR Report)
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Ending exploitation in cocoa together
Living income
Climate, environment & productivity
Human rights
Governance & finances
Interesting appendices
Scaling for change
Introduction
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