Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 188.5 to 150.2.
-
Board fully replaced NBB
No director from three years ago is still active according to annual account 2025.
Financials
Financial year 2025
FrieslandCampina from Beveren-Kruibeke-Zwijndrecht, company number BE0870019427, closed financial year 2025 with a result of € 57.7 million after tax. For that financial year FrieslandCampina recorded revenue of € 652.8 million and equity of € 133.4 million. Compared with financial year 2024, the result moved from € -9.9 million to € 57.7 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 20, 2026.
€ 133.4 million
▲ 105% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 57.7 million
▲ still € 9.9 million loss in 2024
Profit after tax over the fiscal year.
€ 4.8 million
▲ € 4.2 million vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 81 million.
People and assets in 2025
150.2
▼ 21.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 16 million
▼ 14% vs 2024
€ 106,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 4 million
▼ 37% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 23.3 million
▼ 81% vs 2024
Loans from banks and other lenders, long and short.
€ 65.6 million
▼ 20% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 36 days on average.
€ 3.7 million
▼ 34% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 769,836,631 | € 611,604,570 | € 610,263,805 | € 652,765,588 | ▲ 7% |
| Profit after taxes | € 6,268,442 | € 4,603,479 | € -9,935,060 | € 57,698,497 | ▲ € 67.6 million |
| Equity | € 74,205,264 | € 78,016,093 | € 64,993,795 | € 133,445,488 | ▲ 105% |
| Total debts | € 246,766,925 | € 240,708,094 | € 231,103,713 | € 104,197,292 | ▼ 55% |
| Cash | € 2,170,684 | € 1,606,648 | € 577,726 | € 4,757,949 | ▲ € 4.2 million |
| Retained profit | € 25,369,967 | € 29,973,447 | € 20,038,387 | € 80,958,884 | ▲ € 60.9 million |
| Dividend | € 1,790,032 | € 0 | € 0 | € 0 | |
| Bank debt | € 112,209,650 | € 128,344,600 | € 122,752,500 | € 23,338,560 | ▼ 81% |
| Balance sheet total | € 321,039,438 | € 318,760,924 | € 296,527,955 | € 238,060,838 | ▼ 20% |
| Employees (FTE) | 202.8 | 188.5 | 171.8 | 150.2 | ▼ 21.6 |
Key figures of FrieslandCampina, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to FrieslandCampina?
What happened at FrieslandCampina in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 57.7 million. Source: NBB ↗
- FrieslandCampina Participations bv became a director. NBB
- FrieslandCampina Belgium nv became a director. NBB
- Heidi WILLEM stepped down as director. NBB
- Mark MATTHYS - DE ZUTTER stepped down as director. NBB
- PDN BV stepped down as director. NBB
- Pieter DEZEURE stepped down as director. NBB
- Bram MAES stepped down as director. NBB
In short
From € 6.3 million profit in 2022 to € 57.7 million profit in 2025.
Paid € 5.3 million in corporate taxes since 2022.
Best year ever: 2025, with € 57.7 million profit.
Paid out € 1.8 million in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind FrieslandCampina are FrieslandCampina Participations bv and FrieslandCampina Belgium nv. It owns 100% of Kaasimport Jan Dupont, 100% of Milcobel Dairy, 100% of FC Milcobel Belgium bv and 100% of Camal itself.
Directors
According to the 2025 annual accounts
FrieslandCampina Participations bv
Director
since 2026
Director
since 2026
Heidi WILLEM
Director
since 2021 · until 2025
Mark MATTHYS - DE ZUTTER
Director
since 2023 · until 2025
Director · represented by Carl Peeters
Also active at: AXE INVESTMENTS, OKSALYS, Ahlers Logistics
since 2021 · until 2025
since 2021 · until 2025
Pieter DEZEURE
Director
since 2024 · until 2025
Bram MAES
Director
since 2024 · until 2025
since 2023 · until 2025
Director · represented by Dirk Poelman
since 2022 · until 2025
Geert Declercq
Director
since 2025 · until 2025
Jan Verbist
Director
since 2025 · until 2025
since 2024 · until 2025
Establishments
Establishment units
Physical locations of this company
Fabriekstraat(KAL) 141
9120 Beveren-Kruibeke-Zwijndrecht
Melkerijstraat 10
8920 Langemark-Poelkapelle
Active since 18 May 2011
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Domain
Domain
milcobel.com
Registered
2004-10-28
Registrar
Ascio Technologies, Inc. Danmark - Filial af Ascio technologies, Inc. USA
Expires
2026-10-28
Website info
Features
Security
Details
- Company number
- 0870.019.427
- VAT number
- BE 0870.019.427
- Registered office
- Fabriekstraat(KAL) 141, 9120 Beveren-Kruibeke-Zwijndrecht
- Names & denominations
- FrieslandCampina
- Enterprise type
- Rechtspersoon
- Legal form
- Cooperative company
- Legal situation
- Normale toestand
- Start date
- 17 November 2004
- Peppol
- Active · Active since 5 Jan 2026
- Contact
- milcobel.com
- Activities · NACE
Zuivelfabrieken en kaasmakerijen
Vervaardiging van zuivelproducten
Goederenvervoer over de weg
Activiteiten van hoofdkantoren
Coördinatiecentra