7. Property, plant and equipment
|
31/12/2025 |
31/12/2024 |
||||
|---|---|---|---|---|---|
|
€ 000 |
€ 000 |
||||
|
Land and buildings |
234,833 |
213,135 |
|||
|
Machinery and equipment |
250,763 |
208,677 |
|||
|
Other fixed assets |
82,526 |
66,581 |
|||
|
Property, plant and equipment in progress and prepayments |
149,071 |
82,259 |
|||
|
Total property, plant and equipment |
717,193 |
570,652 |
|||
|
Land and buildings |
Machinery and equipment |
Other fixed assets |
Property, plant and equipment in progress and prepayments |
Total |
|
|
€ 000 |
€ 000 |
€ 000 |
€ 000 |
€ 000 |
|
|
Balance as at 01/01/2024 |
|||||
|
Purchase price or manufacturing price |
274,486 |
378,207 |
174,879 |
29,377 |
856,949 |
|
Accumulated depreciation |
(60,499) |
(176,342) |
(113,085) |
- |
(349,927) |
|
Book value as at 01/01/2024 |
213,987 |
201,864 |
61,794 |
29,377 |
507,022 |
|
Movements |
|||||
|
Investments |
7,417 |
20,235 |
11,843 |
68,175 |
107,669 |
|
Acquired through business combinations (Note 31) |
1,196 |
337 |
4,931 |
- |
6,464 |
|
Transfers (Note 8) |
- |
170 |
6,348 |
- |
6,518 |
|
Depreciation (Note 24) |
(10,174) |
(25,266) |
(16,889) |
- |
(52,330) |
|
Impairment losses (Note 24) |
- |
- |
- |
- |
- |
|
Disposals |
(239) |
(292) |
(4,268) |
(275) |
(5,074) |
|
Exchange differences |
99 |
- |
283 |
- |
382 |
|
Reclassified from PP&E in progress |
849 |
11,630 |
2,539 |
(15,018) |
- |
|
Balance movements |
(852) |
6,814 |
4,787 |
52,882 |
63,630 |
|
Balance as at 31/12/2024 |
|||||
|
Purchase price or manufacturing price |
284,087 |
409,690 |
192,165 |
82,259 |
968,201 |
|
Accumulated depreciation and impairment losses |
(70,952) |
(201,013) |
(125,584) |
- |
(397,549) |
|
Book value as at 31/12/2024 |
213,135 |
208,677 |
66,581 |
82,259 |
570,652 |
|
Land and buildings |
Machinery and equipment |
Other fixed assets |
Property, plant and equipment in progress and prepayments |
Total |
|
|
Balance as at 01/01/2025 |
|||||
|
Purchase price or manufacturing price |
284,087 |
409,690 |
192,165 |
82,259 |
968,201 |
|
Accumulated depreciation |
(70,952) |
(201,013) |
(125,584) |
- |
(397,549) |
|
Book value as at 01/01/2025 |
213,135 |
208,677 |
66,581 |
82,259 |
570,652 |
|
Movements |
|||||
|
Investments |
4,924 |
14,992 |
25,878 |
89,582 |
135,376 |
|
Acquired through business combinations (Note 31) |
28,084 |
49,095 |
12,259 |
- |
89,437 |
|
Transfers (Note 8) |
- |
168 |
880 |
- |
1,048 |
|
Depreciation (Note 24) |
(11,003) |
(30,761) |
(17,118) |
- |
(58,882) |
|
Impairment losses (Note 24) |
- |
(9,512) |
- |
(51) |
(9,563) |
|
Disposals |
(1,333) |
(1,443) |
(7,556) |
(249) |
(10,581) |
|
Exchange differences |
(168) |
- |
(126) |
- |
(294) |
|
Reclassified from PP&E in progress |
1,196 |
19,546 |
1,728 |
(22,469) |
- |
|
Balance movements |
21,699 |
42,085 |
15,945 |
66,812 |
146,542 |
|
Balance as at 31/12/2025 |
|||||
|
Purchase price or manufacturing price |
347,599 |
620,085 |
219,248 |
149,071 |
1,336,003 |
|
Accumulated depreciation and impairment losses |
(112,766) |
(369,322) |
(136,722) |
- |
(618,810) |
|
Book value as at 31/12/2025 |
234,833 |
250,763 |
82,526 |
149,071 |
717,193 |
Investments
The investments in tangible fixed assets in 2025 amounted to €135,376,000 (2024: €107,669,000). The investments mainly relate to rebuilding the acquired dairy factory in Salas (Spain) and investments to the cheese factory in Heerenveen.
Capitalised borrowing costs
During the financial year, an interest amount of €2,974,000 (2024: €1,106,000) is capitalised, with an average interest rate of 4.5% (2024: 3%).
Acquisition during the year
Please refer to note 31 for further detail of acquisitions during the year resulting from business combinations.