DAIRY 21: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DAIRY 21
Largest movements
- Financial fixed assets +€11.5m
up €11.5m (+29.2%), from €39.3m to €50.8m
- Receivables within one year -€5.4m
down €5.4m (-64.7%), from €8.3m to €2.9m
of which Other amounts receivable: -€6.2m
- Cash -€2.3m
down €2.3m (-44.7%), from €5.0m to €2.8m
mainly Investment in fixed assets (net) (-€11.5m) and Debts after one year (-€3.1m)
- Current investments +€600,000
new in 2025: €600,000
- Profit (loss) carried forward +€5.0m
up €5.0m (+248%), from €2.0m to €7.0m
- Other debts +€3.6m
up €3.6m (+75.2%), from €4.8m to €8.4m
- Debts after one year -€3.1m
down €3.1m (-8.1%), from €38.1m to €35.0m
- Financial income +€3.1m
up €3.1m (+25,640%), from €11,992 to €3.1m
- Turnover +€2.0m
up €2.0m (+53.4%), from €3.8m to €5.9m
- Financial charges +€1.1m
up €1.1m (+134%), from €857,266 to €2.0m
- Taxes +€267,247
up €267,247 (+69.6%), from €383,777 to €651,023
- Services and other goods -€141,591
down €141,591 (-9.6%), from €1.5m to €1.3m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,630,290 | €57,088,515 | +€4.5m | +8.5% |
| Fixed assets | 21/28 | €39,291,629 | €50,780,419 | +€11.5m | +29.2% |
| Financial fixed assets | 28 | €39,291,629 | €50,780,419 | +€11.5m | +29.2% |
| Affiliated companies | 280/1 | €39,291,629 | €50,780,419 | +€11.5m | +29.2% |
| Participating interests | 280 | €39,291,629 | €50,780,419 | +€11.5m | +29.2% |
| Current assets | 29/58 | €13,338,662 | €6,308,096 | -€7.0m | -52.7% |
| Amounts receivable within one year | 40/41 | €8,294,021 | €2,926,179 | -€5.4m | -64.7% |
| Trade receivables | 40 | €2,055,036 | €2,924,938 | +€869,902 | +42.3% |
| Other amounts receivable | 41 | €6,238,985 | €1,241 | -€6.2m | -100.0% |
| Current investments | 50/53 | - | €600,000 | +€600,000 | |
| Other investments | 51/53 | - | €600,000 | +€600,000 | |
| Cash at bank and in hand | 54/58 | €5,034,320 | €2,781,917 | -€2.3m | -44.7% |
| Deferred charges and accrued income | 490/1 | €10,320 | - | -€10,320 | |
| Total equity and liabilities | 10/49 | €52,630,290 | €57,088,515 | +€4.5m | +8.5% |
| Equity | 10/15 | €5,002,363 | €9,966,610 | +€5.0m | +99.2% |
| Contributions | 10/11 | €3,001,200 | €3,001,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,001,163 | €6,965,410 | +€5.0m | +248% |
| Amounts payable | 17/49 | €47,627,927 | €47,121,905 | -€506,022 | -1.1% |
| Amounts payable after more than one year | 17 | €38,091,873 | €34,992,411 | -€3.1m | -8.1% |
| Financial debts | 170/4 | €38,091,873 | €34,992,411 | -€3.1m | -8.1% |
| Subordinated loans | 170 | €8,999,400 | €8,999,400 | = | 0.0% |
| Credit institutions | 173 | €29,092,473 | €25,993,011 | -€3.1m | -10.7% |
| Amounts payable within one year | 42/48 | €8,925,677 | €11,638,229 | +€2.7m | +30.4% |
| Current portion of amounts payable after more than one year | 42 | €3,099,462 | €3,099,462 | = | 0.0% |
| Financial debts | 43 | €500,000 | - | -€500,000 | |
| Credit institutions | 430/8 | €500,000 | - | -€500,000 | |
| Trade debts | 44 | €175,078 | €40,110 | -€134,968 | -77.1% |
| Suppliers | 440/4 | €175,078 | €40,110 | -€134,968 | -77.1% |
| Taxes, remuneration and social security | 45 | €341,539 | €71,984 | -€269,555 | -78.9% |
| Taxes | 450/3 | €341,539 | €71,984 | -€269,555 | -78.9% |
| Other amounts payable | 47/48 | €4,809,597 | €8,426,672 | +€3.6m | +75.2% |
| Accrued charges and deferred income | 492/3 | €610,377 | €491,266 | -€119,112 | -19.5% |
| Operating income | 70/76A | €3,828,114 | €5,870,865 | +€2.0m | +53.4% |
| Turnover | 70 | €3,828,114 | €5,870,865 | +€2.0m | +53.4% |
| Operating charges | 60/66A | €1,476,255 | €1,335,549 | -€140,706 | -9.5% |
| Services and other goods | 61 | €1,475,020 | €1,333,428 | -€141,591 | -9.6% |
| Other operating charges | 640/8 | €1,236 | €2,120 | +€885 | +71.6% |
| Operating profit (loss) | 9901 | €2,351,859 | €4,535,316 | +€2.2m | +92.8% |
| Financial income | 75/76B | €11,992 | €3,086,670 | +€3.1m | +25,640% |
| Recurring financial income | 75 | €11,992 | €3,086,670 | +€3.1m | +25,640% |
| Income from current assets | 751 | €11,992 | €3,086,670 | +€3.1m | +25,640% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €857,266 | €2,006,716 | +€1.1m | +134% |
| Recurring financial charges | 65 | €857,266 | €2,006,716 | +€1.1m | +134% |
| Debt charges | 650 | €830,498 | €2,004,635 | +€1.2m | +141% |
| Other financial charges | 652/9 | €26,768 | €2,080 | -€24,688 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | €1,506,585 | €5,615,270 | +€4.1m | +273% |
| Income taxes | 67/77 | €383,777 | €651,023 | +€267,247 | +69.6% |
| Taxes | 670/3 | €383,777 | €651,023 | +€267,247 | +69.6% |
| Profit (loss) for the period | 9904 | €1,122,808 | €4,964,247 | +€3.8m | +342% |
| Profit (loss) for the period to be appropriated | 9905 | €1,122,808 | €4,964,247 | +€3.8m | +342% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.