Currently, there is a growing demand for flavorings, especially of natural origin. It is worth paying attention to the biotechnological processes of flavor production, characterized by simplicity, high efficiency and relatively low cost. In this study, we analyzed the ability of the mold to transform by-products of the dairy industry: sour whey and buttermilk to complex flavour mixtures with pleasant, honey-rose aroma. Furthermore, the aroma complexity of the fermentation product has been carefully identified applying a sensomic approach involving the use of gas chromatography-olfactometry (GC-O), gas chromatography-mass spectrometry (GC-MS) and stable isotope dilution assay (SIDA) to identify and quantify aroma compounds. Based on the calculation of odor activity value (OAV), 13 key aroma compounds were present in both tested variants. The highest OAVs were found for phenylacetaldehyde (honey-like) in the buttermilk variant (912) and 2-phenylethanol (rose-like) in the sour whey variant (524). High values of this indicator were also recorded for phenylacetaldehyde (319) and 3-methyl-1-butanol with a fruity aroma (149) in the sour whey culture. The other compounds identified are 3-methylbutanal (malty), 2,3-butanedione (cheesy), isovaleric acid (cheesy), 3-(methylthio)-propanal (boiled potato), butanoic acid (vinegar), ()-2-nonenal (fatty), ethyl furaneol (burnt sugar), dimethyl trisulfide (cabbage), and acetic acid (vinegar).