Grants and acceleration funding The total contribution to Tony’s Open Chain this book year via grants and acceleration funding was EUR 232,353. These grants are included in the programme fees. Rijksdienst voor Ondernemend Nederland (RVO) awarded a Social Sustainability Fund grant to Tony’s Open Chain in March 2024, with partners Agriterra and 100WEEKS, for the new project ‘The Future of Farmer Empowerment’ (2024-2027). The project focuses on building financial management and digital literacy at the household and cooperative level to facilitate the adoption and use of mobile money solutions. Other ongoing projects that have received external funding: With funding from DEG and the Chocolonely Foundation, Tony’s Open Chain partnered with Elucid to deliver healthcare in Ghana via our partnership Cocoa Community Health and Sustainability Initiative (CHASI). The CHASI project (2024-2027) works to enrol all farmers in Ghana’s national health insurance, as well as covering additional essential care not covered by the national system (with a special focus on maternal care) and providing vision and respiratory health screenings. We also partnered with CHASI’s sister initiative CHEER (Cocoa Farmer Health and Empowerment for Economic Resilience) in Côte d’Ivoire. Beyond deploying mobile clinics in remote communities, the initiative supports enrolment in their national health insurance schemes and introduces a co-payment system for essential and emergency care. Through this long- term investment, CHASI and CHEER strengthen national health systems by improving data quality for better planning and risk management. Initiative for Sustainable Trade (IDH): IDH committed to increasing the number of cocoa farming households that close or reduce their living income gap together with Tony’s Open Chain as part of a three-year project that started in 2023. Funding for this project went towards verifying the living income impact of Tony’s Open Chain, creating awareness on farmer income improvements and other sustainability impacts of the Tony’s Open Chain sourcing principles. The Ministry of Foreign Affairs of Finland and Fairtrade Finland, together with project partners Fairtrade Africa and ICI, also funded the project Children in Rural Communities are Learning and Empowered (CIRCLE) in Ghana (2023-2025), which Tony’s Open Chain partners in. This project focuses on building children’s resilience to protect, report and advocate for themselves while empowering cooperatives to implement effective child labour monitoring. These efforts are complemented by activities to support the promotion of safe schools and community environments for children to thrive.
Net result The net result reflects the total funds remaining after deducting all expenses from revenue for the accounting period. In 2023/24, we reported a loss of €580,383, an expected outcome due to necessary investments during our start-up and scaling phases. In 2024/25, we achieved a positive net result of €384,367. This figure reflects a snapshot in time and is shaped by the timing of revenue recognition and programme expenditures, which may not always coincide with the Tony’s Open Chain financial year, which is aligned with the cocoa season. In our second year of full financials, we’ve partially absorbed last year’s loss. Over the two-year phase, the net result remains negative. Governance costs grew in line with revenue and, relative to volume growth, even decreased, demonstrating that scaling our model has introduced efficiencies we aim to build on. As we work towards cost-neutral operations, our goal is to achieve a sustainable positive result through the build-up of a risk reserve, enabling Tony’s Open Chain to absorb unforeseen costs or investments.
THIS YEAR’S NUMBERS AT A GLANCE
In the 2024/25 book year: • Tony’s Open Chain revenues reached €6.2 million. Programme fees of €3.3 million represented the largest component of this figure, followed by governance fees of €2.3 million and the risk margin of €553K. • Costs amounted to €5.9 million in operating expenses. • We landed on a net result of €384,367.
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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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