MEDA BRIGHT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MEDA BRIGHT
Largest movements
- Receivables within one year -€113,218
down €113,218 (-25.3%), from €447,539 to €334,321
of which Trade receivables: -€74,022
- Cash -€19,186
down €19,186 (-17.9%), from €107,219 to €88,032
mainly Trade debts (-€314,729) and Current portion of long-term debt (-€12,050)
- Deferred charges and accrued income -€11,839
down €11,839 (-64.3%), from €18,420 to €6,581
- Trade debts -€314,729
down €314,729 (-48.0%), from €655,440 to €340,711
- Profit (loss) carried forward +€178,012
up €178,012, from -€92,364 to €85,648
- Current portion of long-term debt -€12,050
no longer reported in 2025 (was €12,050)
- Gross operating margin +€432,870
up €432,870, from -€209,827 to €223,043
- Financial charges -€12,060
down €12,060 (-96.5%), from €12,492 to €432
- Financial income -€10,767
down €10,767 (-98.1%), from €10,974 to €206
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €619,123 | €469,972 | -€149,151 | -24.1% |
| Fixed assets | 21/28 | €43,682 | €39,350 | -€4,332 | -9.9% |
| Tangible fixed assets | 22/27 | €42,966 | €38,634 | -€4,332 | -10.1% |
| Plant, machinery and equipment | 23 | €39,987 | €35,656 | -€4,331 | -10.8% |
| Furniture and vehicles | 24 | €2,979 | €2,979 | -€0 | 0.0% |
| Financial fixed assets | 28 | €716 | €716 | = | 0.0% |
| Current assets | 29/58 | €575,441 | €430,621 | -€144,820 | -25.2% |
| Stocks and contracts in progress | 3 | €2,263 | €1,687 | -€576 | -25.5% |
| Stocks | 30/36 | €2,263 | €1,687 | -€576 | -25.5% |
| Amounts receivable within one year | 40/41 | €447,539 | €334,321 | -€113,218 | -25.3% |
| Trade receivables | 40 | €397,877 | €323,856 | -€74,022 | -18.6% |
| Other amounts receivable | 41 | €49,662 | €10,465 | -€39,196 | -78.9% |
| Cash at bank and in hand | 54/58 | €107,219 | €88,032 | -€19,186 | -17.9% |
| Deferred charges and accrued income | 490/1 | €18,420 | €6,581 | -€11,839 | -64.3% |
| Total equity and liabilities | 10/49 | €619,123 | €469,972 | -€149,151 | -24.1% |
| Equity | 10/15 | -€71,364 | €106,648 | +€178,012 | |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €21,000 | +€21,000 | |
| Other | 1109/19 | - | €21,000 | +€21,000 | |
| Profit (loss) carried forward | 14 | -€92,364 | €85,648 | +€178,012 | |
| Amounts payable | 17/49 | €690,487 | €363,324 | -€327,163 | -47.4% |
| Amounts payable within one year | 42/48 | €688,214 | €360,924 | -€327,290 | -47.6% |
| Current portion of amounts payable after more than one year | 42 | €12,050 | - | -€12,050 | |
| Trade debts | 44 | €655,440 | €340,711 | -€314,729 | -48.0% |
| Suppliers | 440/4 | €655,440 | €340,711 | -€314,729 | -48.0% |
| Taxes, remuneration and social security | 45 | €8,806 | €8,640 | -€166 | -1.9% |
| Taxes | 450/3 | €439 | €2,279 | +€1,840 | +420% |
| Remuneration and social security | 454/9 | €8,368 | €6,361 | -€2,007 | -24.0% |
| Other amounts payable | 47/48 | €11,918 | €11,573 | -€344 | -2.9% |
| Accrued charges and deferred income | 492/3 | €2,273 | €2,400 | +€127 | +5.6% |
| Remuneration, social security and pensions | 62 | €36,811 | €35,658 | -€1,153 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,968 | €6,600 | +€1,632 | +32.9% |
| Other operating charges | 640/8 | €3,964 | €2,257 | -€1,707 | -43.1% |
| Gross operating margin | 9900 | -€209,827 | €223,043 | +€432,870 | |
| Operating profit (loss) | 9901 | -€255,570 | €178,528 | +€434,098 | |
| Financial income | 75/76B | €10,974 | €206 | -€10,767 | -98.1% |
| Recurring financial income | 75 | €10,974 | €206 | -€10,767 | -98.1% |
| Financial charges | 65/66B | €12,492 | €432 | -€12,060 | -96.5% |
| Recurring financial charges | 65 | €12,492 | €432 | -€12,060 | -96.5% |
| Profit (loss) for the period before taxes | 9903 | -€257,088 | €178,302 | +€435,390 | |
| Income taxes | 67/77 | €308 | €290 | -€18 | -5.7% |
| Profit (loss) for the period | 9904 | -€257,396 | €178,012 | +€435,408 | |
| Profit (loss) for the period to be appropriated | 9905 | -€257,396 | €178,012 | +€435,408 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.