Notes to the 2023 separate financial statements

General

The Company’s financial statements are part of the 2023 financial statements of the group. For the Company profit and loss account, use has been made of the exemption pursuant to Section 2:402 of the Netherlands Civil Code. Insofar as no further explanation is provided of items in the Company balance sheet and the Company profit and loss account, please refer to the notes to the consolidated balance sheet and profit and loss account.

Accounting policies

The principles for the valuation of assets and liabilities and the determination of the result are the same as those applied to the consolidated profit and loss account, with the exception of the following principles:

financial instruments

In the Company financial statements, financial instruments are presented on the basis of their legal form.

participating interests in group companies

Participating interests in group companies are accounted for in the separate financial statements according to the equity accounting method on the basis of net asset value. For details we refer to the accounting policy for financial fixed assets in the consolidated financial statements.

share of result of participating interests

This item concerns the Company’s share of the profit or loss of these participating interests. Results on transactions involving the transfer of assets and liabilities between the Company and its participating interests and mutually between participating interests themselves, are eliminated to the extent that they can be considered as unrealised.

23. financial fixed assets

Participating interests and long term loans

Consolidated companies:

Numidia Uruguay S.A. has been liquidated in 2023. This was a dormant entity with no operations.

Other participating interest:

Pursuant to Section 2:403 of the Netherlands Civil Code, a liability declaration has been issued by Numidia Holding B.V. regarding the following companies:

• Numidia B.V.

• Numidia Services B.V.

• Cheese and more B.V.

24. trade and other receivables

All trade and other receivables are due within one year.

The carrying values of the recognised receivables approximate their respective fair values, given the short maturities of the positions and the fact that allowances for doubtful debts have been recognised, if necessary.

25. cash and cash equivalents

All credit balances on bank accounts are at the free disposal of the Company.

26. shareholders’ equity

*) Cash flow hedge accounting is applied for the Company commodity derivatives. The effective portion of the fair value changes of the derivatives is initially recognized in the consolidated revaluation reserve. As soon as the expected future transactions lead to the recognition of gains or losses in the profit and loss account, the respective amounts are transferred from the consolidated revaluation reserve to the consolidated profit and loss account. As at 31 December 2023, the consolidated revaluation reserve amounts to negative EUR 299 thousand (2022: 388 thousand).

Issued capital

The Company’s authorised capital, amounting to EUR 90 thousand (2022: EUR 90 thousand), consists of 90,000 ordinary shares of EUR 1 each. As at 31 December 2023, 36,270 ordinary shares were issued and fully paid-up (2022: 36,270). 

Appropriation of profit from 2022

The 2022 financial statements were adopted on 18 April 2023. In accordance with the shareholders’ resolution of 18 April 2023, EUR 10,811 thousand was added to the other reserves and a dividend of EUR 10,000 thousand was paid.

Foreign currency translation reserve

Exchange gains and losses arising from the translation of the functional currency of foreign operations to the reporting currency of the parent company are accounted for in this statutory reserve. In the case of the sale of a participating interest, the associated accumulated exchange differences are taken to other reserves.

The foreign currency translation legal reserve of EUR 21 thousand positive (2022: EUR 27 thousand positive) relates to the Company’s foreign investments.

Unappropriated profit

The result after tax for 2023 is included in the item ‘unappropriated profit'.

Proposal for profit appropriation

The General Meeting will be proposing to appropriate the profit after tax for 2023, of EUR 16,046 thousand, to the other reserves. The 2023 result after tax is presented as unappropriated profit in shareholders’ equity.

27. current liabilities

The carrying values of the recognised current liabilities approximate their respective fair values, given the short maturities of the positions.

Numidia Holding B.V. is the head of a fiscal unity for income tax with:

• Numidia B.V.

• Numidia Services B.V.

• Cheese and more B.V.

 The income tax position therefore includes the tax liability of the whole fiscal unity.

28. result in group companies

29. number of fte’s

During the 2023 financial year, the average number of staff employed in the company, converted in to full-time equivalents, amounted to 3 FTE (2022: 0 FTE).

30. subsequent events

No events occurred after the balance sheet date that required an adjustment or disclosure.  

Roermond, April 8, 2024

The statutory Board of Directors:

A. Mahnin

M.H.G. Daamen 

J.A.H. van Hagen