08.6 Notes to the consolidated profit and loss statement
14. Net revenue
Net revenue can be specified as follows in accordance with important yield categories:
| 2024/2025 | 2023/2024 | |
|---|---|---|
| Seed potatoes | 477.341 | 367.666 |
| Licenses | 30.541 | 25.381 |
| Ware potatoes | 15.292 | 23.899 |
| Services | 1.551 | 1.480 |
| Other | 447 | 1.450 |
| 525.172 | 419.876 |
The following overview is provided for the net revenue/percentage spread over the sales areas:
| 2024/2025 | 2023/2024 | |||
|---|---|---|---|---|
| EUR | % | EUR | % | |
| The Netherlands | 78.751 | 15 | 85.845 | 20 |
| Other E.U. countries | 240.036 | 46 | 181.629 | 43 |
| Other European countries | 48.739 | 9 | 35.114 | 8 |
| Outside Europe | 157.646 | 30 | 117.288 | 28 |
| 525.172 | 100 | 419.876 | 100 |
15. Other operating income
Other income includes revenue from sales of other products and services, grant income and realized results on property sales.
16. Personnel expenses
| 2024/2025 | 2023/2024 | |
|---|---|---|
| Personnel expenses | 27.195 | 24.489 |
| Social security costs | 4.906 | 4.363 |
| Pension costs | 3.736 | 3.234 |
| 35.837 | 32.086 |
For the Dutch employees of HZPC Holland B.V. and ZOS, personnel costs include the provision of HZPC share certificates.
Number of employees
During the financial year, the average number of employees at Royal HZPC Group B.V. and its subsidiaries was 404 FTE, of which 286 FTE are employed in the Netherlands (previous financial year 389 FTE, of which 272 FTE were employed in the Netherlands).
Specification number of FTE's
| 2024/2025 | 2023/2024 | |
|---|---|---|
| Management, administration and IT | 99 | 94 |
| Commerce and communication | 80 | 84 |
| Purchasing and logistic planning | 107 | 111 |
| Storage, grading and transport | 26 | 24 |
| Research | 92 | 76 |
| 404 | 389 |
17. Other operating expenses
| 2024/2025 | 2023/2024 | |
|---|---|---|
| Sales costs | 7.427 | 7.690 |
| Office costs | 4.933 | 3.842 |
| Staff relates costs | 9.487 | 6.751 |
| Repair and maintenance | 3.028 | 2.407 |
| Other costs | 8.972 | 6.719 |
| 33.847 | 27.409 |
The cost of sales includes EUR 1.5 million (2023/2024 EUR 1.4 million) for Connecting Growers. Other costs consist of taxes, insurance, energy and various costs for the purpose of Research & Development.
18. Interest receivable and similar income
| 2024/2025 | 2023/2024 | |
|---|---|---|
| Received interest debtors | 24 | 256 |
| Received interest R/C | 175 | 266 |
| Received interest interestcaps | 137 | 189 |
| 336 | 711 |
19. Interest payable and similar charges
| 2024/2025 | 2023/2024 | |
|---|---|---|
| Disconto | 267 | 203 |
| Interest R/C | 1.474 | 2.908 |
| Currency and payment differences | 1.108 | 575 |
| Other interest | 293 | 832 |
| 3.142 | 4.518 |
20. Corporate income tax
| 2024/2025 | 2023/2024 | |
|---|---|---|
| Applicable tax rate in The Netherlands | 25,8% | 25,8% |
| Foreign effect | -0,3% | 1,5% |
| Non-deductible amounts | 2,7% | 9,1% |
| Other | 0,2% | -0,8% |
| Effective pressure | 28,4% | 35,6% |
The company forms a fiscal unit for corporation tax together with HZPC Holland B.V., STET Holland B.V., HZPC Belgium B.V., ZOS B.V., ZOS WEHE B.V., HZPC SBDA B.V., HZPC SBA Europe B.V., HZPC Research B.V. and IPR B.V. The corporate income tax is included in each of the companies for the part that the company concerned would be due at a nominal rate, not taking into account any tax facilities applicable for the company.
The effective tax rate is 29.3% (2023/2024: 35.6%). For the Dutch companies, an effective rate of 34.7% applies.
For the foreign companies, an average tax rate of 26.0% applies (2023/2024: 28.8%), which is influenced by a lower normative tax burden in certain countries.
Other explanatory notes
Transaction with related parties
Transactions with related parties occur when a relationship exists between the company, its participating interests and their managers and directors. This includes the relationships between the company and its participating interests, the shareholders, the directors and key management personnel. Other transactions are to be understood as a transfer of resources, services or obligations, regardless of whether a sum is charged.
There were no transactions with related parties that were not on a commercial basis.
Auditor's fees
The following fees were charged by the auditors to the company, its subsidiaries and other consolidated companies, as referred to in Section 2:382a (1) and (2) of the Netherlands Civil Code. EY Accountants B.V. (former: Ernst & Young Accountants LLP) is responsible for the audit of the Royal HZPC Group B.V. annual accounts. Auditor’s fees have been recognised based on the agreed fee. Subsequent costs are processed at the time of invoicing.
| 2024/2025 | 2023/2024 | |
|---|---|---|
| Expenses in the year: | ||
| Audit of the financial statements, the Netherlands (EY Accountants B.V.) | 436 | 511 |
| Other non-audit services (EY Accountants B.V.) | 43 | 0 |
| Other non-audit services (EY Expertises & Transactions SAS) | 0 | 92 |
| Auditor's fees | 479 | 603 |
Remuneration of managing and supervisory directors
Refer to the notes to the separate company financial statement on page 108.
Subsequent events to the consolidated financial statements
The holdings HZPC Ltd and HZPC China Ltd are in liquidation. Completion is expected in 2026 without financial consequences.
Potato breeder and seed potato trading company Royal HZPC announced on October 2, 2025, its intended acquisition of IPM Potato Group, a leading seed potato breeder and exporter based in Ireland. For this purpose, financing was expanded as of October 2025. The intended acquisition is expected to make a positive contribution in the coming years.
