AF LEGAL: what changed
AF LEGAL
Largest movements
- Cash +€271,563
up €271,563 (+94.6%), from €286,916 to €558,479
mainly Net result for the year (+€179,685) and Receivables within one year (+€96,908)
- Receivables within one year -€96,908
down €96,908 (-72.2%), from €134,158 to €37,250
- Deferred charges and accrued income +€21,212
up €21,212 (+6,712%), from €316 to €21,529
- Current investments +€17,325
up €17,325 (+2.3%), from €750,000 to €767,325
- Reserves +€179,685
up €179,685 (+15.7%), from €1.1m to €1.3m
- Tax, wage and social debts +€19,716
up €19,716 (+54.3%), from €36,292 to €56,008
of which Taxes: +€16,162
- Gross operating margin +€47,337
up €47,337 (+25.6%), from €184,968 to €232,306
- Financial income +€23,871
up €23,871 (+603%), from €3,958 to €27,829
- Taxes +€22,194
up €22,194 (+40.1%), from €55,392 to €77,585
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,196,260 | €1,397,244 | +€200,984 | +16.8% |
| Fixed assets | 21/28 | €70 | €70 | = | 0.0% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €1,196,190 | €1,397,174 | +€200,984 | +16.8% |
| Amounts receivable after more than one year | 29 | €24,800 | €12,592 | -€12,208 | -49.2% |
| Trade receivables | 290 | €24,800 | €12,592 | -€12,208 | -49.2% |
| Amounts receivable within one year | 40/41 | €134,158 | €37,250 | -€96,908 | -72.2% |
| Trade receivables | 40 | €134,158 | €37,250 | -€96,908 | -72.2% |
| Current investments | 50/53 | €750,000 | €767,325 | +€17,325 | +2.3% |
| Cash at bank and in hand | 54/58 | €286,916 | €558,479 | +€271,563 | +94.6% |
| Deferred charges and accrued income | 490/1 | €316 | €21,529 | +€21,212 | +6,712% |
| Total equity and liabilities | 10/49 | €1,196,260 | €1,397,244 | +€200,984 | +16.8% |
| Equity | 10/15 | €1,157,694 | €1,337,379 | +€179,685 | +15.5% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €1,143,434 | €1,323,119 | +€179,685 | +15.7% |
| Distributable reserves | 133 | €1,143,434 | €1,323,119 | +€179,685 | +15.7% |
| Amounts payable | 17/49 | €38,566 | €59,865 | +€21,299 | +55.2% |
| Amounts payable within one year | 42/48 | €38,566 | €59,865 | +€21,299 | +55.2% |
| Trade debts | 44 | €1,566 | €2,741 | +€1,175 | +75.0% |
| Suppliers | 440/4 | €1,566 | €2,741 | +€1,175 | +75.0% |
| Taxes, remuneration and social security | 45 | €36,292 | €56,008 | +€19,716 | +54.3% |
| Taxes | 450/3 | €36,292 | €52,454 | +€16,162 | +44.5% |
| Remuneration and social security | 454/9 | - | €3,554 | +€3,554 | |
| Other amounts payable | 47/48 | €708 | €1,117 | +€409 | +57.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €578 | - | -€578 | |
| Other operating charges | 640/8 | €1,036 | €998 | -€38 | -3.7% |
| Gross operating margin | 9900 | €184,968 | €232,306 | +€47,337 | +25.6% |
| Operating profit (loss) | 9901 | €183,354 | €231,307 | +€47,953 | +26.2% |
| Financial income | 75/76B | €3,958 | €27,829 | +€23,871 | +603% |
| Recurring financial income | 75 | €3,958 | €27,829 | +€23,871 | +603% |
| Financial charges | 65/66B | €90 | €1,866 | +€1,776 | +1,973% |
| Recurring financial charges | 65 | €90 | €1,866 | +€1,776 | +1,973% |
| Profit (loss) for the period before taxes | 9903 | €187,222 | €257,270 | +€70,049 | +37.4% |
| Income taxes | 67/77 | €55,392 | €77,585 | +€22,194 | +40.1% |
| Profit (loss) for the period | 9904 | €131,830 | €179,685 | +€47,855 | +36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €131,830 | €179,685 | +€47,855 | +36.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.