Financial Report – 2018


Financieel verslag 2018

In 2018 we have received donations amounting to € 257,795. In the first place, our Foundation was again able to count on a considerable number of donors who annually transfer an amount to our account.

There was also income for specific projects. From the European Fund “Frame voice Report” the Foundation received € 13,484 for an awareness campaign in the framework of the Malnutrition Programme with the short films “Plat du jour” and a substantial donation of € 20,000 for the construction of the innovation and training centre in Parakou.

Government revenues reached their highest level ever. This is mainly thanks to the city of Leuven, which in the past year granted both the 2017 amount of € 17,418 and the 2018 subsidy of € 21,952 for the project “Every woman has her own banana tree”.


Expenditure in Belgium includes postage, costs for official publications, financial costs, mission costs, costs of the quarterly newsletter, acquisition of funds and promotion. The sum of the European Fund “Frame Voice Report” was invested in the recording, production and promotion of the Beninese short films “Plat du Jour”, directed by a team of Belgian professionals. The share of the expenses in Belgium and Benin covered by the Foundation amounted to € 12,694, while the running of our Beninese headquarters cost € 11,248, which is more than usual. This extra cost was caused by the extension of our Beninese NGO status – the headquarters agreement. An audit had to be carried out involving several ministries who sent their deputies to participate in the evaluation.

In February 2019 the extension of the headquarters agreement was confirmed, which allows the Foundation to continue to benefit from certain tax advantages in Benin. For the health programme a total amount of € 53,193 has been invested in the two partner hospitals in Papané and Boko. A further € 25,687 has been invested in two complementary projects: the “Cleanest Hospital” project in Papané Hospital in collaboration with the firm Materialise and the “Malnourished Children” project in both hospitals. The agricultural programme PRAFA (Project for Resilience and Empowerment of Women in Agriculture) with the NGO Eclosio is a DGD programme for which the H&V Foundation foresees an annual amount of € 30,000.

The agricultural programme and the banana project resulted in an investment of € 17.984 this year. The partner farm “Centre de Formation et Ferme Sokounon” obtained a financial support of € 13.179. The educational programme giving support to schools, the membership to the mutual insurance company for each pupil, the hygiene lessons and the programme promoting the transfer of girls to secondary school cost a total amount of € 28.476. The summer school programme financed and monitored by the company Matérialise makes a scholarship available each year to 3 new students. The amount invested this year was € 13,179.00. The running costs and investments for the orphanage this year were € 17,753.

As a result

The Foundation closes the financial year with a positive result of € 25,758. This exceptional reserve is due to a change in the DGD health programme. After a long deliberation the Foundation decided in 2018 not to continue the collaboration with the NGO Memisa for the health programme because of a diverging vision on certain investments.

Following this decision the Foundation will no longer pay the annual amount of € 75,000 to Memisa, which used to contribute 20% of the co-financing. The Foundation will therefore again determine the investment of the released budget in the hospitals and the health programme in consultation with the management and the people directly involved in Benin, with the reduced disadvantage that the mission costs can no longer be recovered from the DGD budget for follow-up activities in Benin.