Annual Report: Auto Recycling Foundation

Assignment and Funding

The Auto Recycling Foundation is the client and sole shareholder of ARN Auto Recycling Nederland B.V. Financing takes place through the recycling fee on all cars that are registered in the Netherlands for the first time.

The Auto Recycling Foundation instructs ARN to implement the producer responsibility of car importers. With the aim of collecting and recycling end-of-life vehicles to achieve the legally established recycling performance in a high-quality and responsible manner.

Governance

The market parties from the automotive industry, BOVAG (dealer companies and importers), RAI Association (importers) and Stiba (vehicle dismantling companies) appoint, suspend and dismiss a natural person as director of the Auto Recycling Foundation.

The Board of Directors consists of:

• Olaf de Bruijn (chairman) – RAI Association
• George de Booij (secretary) – BOVAG
• Martijn Traas (treasurer) – Stiba
• Paul Dietz (Board Secretary)

Reporting

The annual accounts of the Auto Recycling Foundation have been prepared based on its own principles.

Balance Sheet and Profit Loss Statement		2024	2023
Balance Sheet (before profit appropriation in euros)
1	Financial Fixed Assets	67,037,823	60,773,025
	Total Fixed Assets	67,037,823	60,773,025
2	Receivables	2,228,571	1,559,568
3	Cash and Cash Equivalents	7,193,786	5,528,210
	Total Current Assets	9,422,357	7,087,778
	Total Assets	76,460,180	67,860,803
4	Equity	14,521	14,521
	Total Equity	14,521	14,521
5	Recycling fee fund	71,231,696	65,033,115
6	Current Liabilities	5,213,963	2,813,167
	Total Liabilities	76,445,659	67,846,282
	Total Equity and Liabilities	76,460,180	67,860,803
	Profit and Loss Account (in euros)
7	Revenue from recycling fee	13,644,195	13,301,173
8	Investment Income	6,343,403	5,295,989
9	Interest Income and Similar Revenues	32,994	15,295
	Total Revenues	20,020,592	18,612,457
10	General Expenses	13,863,713	12,234,985
11	Interest Expenses and Similar Costs	140,900	144,344
	Total Operating Expenses	14,004,613	12,379,329
	Operating Result	6,015,979	6,233,128
12	Result from Participation	182,602	154,732
	Result before taxes	6,198,581	6,387,860
13	Taxes on Result	0	0
	Result After Taxes	6,198,581	6,387,860

Explanation

1. Financial fixed assets: The Auto Recycling Foundation has entrusted the management of the investment portfolio to two asset managers. The funds are invested in both bond and equity funds. The asset managers have been given a neutral and sustainable investment policy, derived from the foundation’s investment statute. This minimizes the risks associated with investing as much as possible and ensures sustainable investing.
2. The item receivables mainly consists of debtors.
3. The liquid assets of the Auto Recycling Foundation are held with creditworthy banking institutions.
4. Equity: The foundation capital was originally deposited by the board members RAI Association, BOVAG, FOCWA and STIBA. Each organisation has deposited an equal share of the capital.
5. The annual foundation result of the Auto Recycling Foundation related to the End-of-Life Vehicles Management Decree (Bba) is processed in the recycling fee fund. The result is shown in the profit loss account and is added to or withdrawn from the recycling fee fund. The fund is for expected and unexpected future expenses.
6. The current liabilities mainly consist of creditors, accrued expenses and a debt to ARN Auto Recycling Nederland B.V.
7. Revenue from recycling fee: In total, a recycling fee was charged for 489,444 (2023: 425,155) newly registered vehicles in 2024 and for 335,991 (2023: 290,233) imported vehicles.
8. Investment income: The Auto Recycling Foundation has given its asset managers a neutral mandate, characterized mainly by investing in bonds and shares of sustainable funds. The income reported here concerns the price results, dividend income, and bond interest.
9. The interest income concerns the interest received on savings accounts.
10. The general costs consist of the contractually agreed contribution to ARN’s operating costs for the implementation of the Bba decree and the costs of the Auto Recycling Foundation. In 2024, 158,589 (2023: 133,224) wrecks were dismantled by the 203 (2023: 208) auto dismantling companies affiliated with ARN. These companies were paid compensation for their work. In addition, ARN’s charged operating costs consist of collection and processing of ARN materials, the one-time stimulation premium to auto dismantling companies, the contractually agreed contribution to the operating costs of the PST factory and ARN’s operating costs.
11. Interest expenses and similar costs: This mainly concerns management costs for the investments.
12. Result from Participation concerns the result on the Auto Recycling Foundation’s participation in ARN Auto Recycling Nederland B.V.
13. Taxes on the result: The Auto Recycling Foundation is not subject to corporate income tax.