Result
€50,246 €50,246
Back in profit in 2025, after a loss of €51,795 in 2024.
Shay International
Lifetime
20 annual accounts with figures on one time axis, 22 filings since 2004peak €54,115 (2025)
€54,115▲ €104,220
lowest -€51,795 (2024)
€50,246▲ €102,041
peak €162,946 (2020)
€137,308▲ 57.7%
€71,111▼ 14.7%
Board2 names since 2003
2 directorsYacov BIBILASHVILI and 1 other
Documentsfilings and deeds
08-06-202653 days before the deadline
2025micro format
Gross margin from -€50,105 to €54,115Back to profit: €50,246Equity from €87,062 to €137,308Cash from €58,829 to €78,698
Key points
from the 2025 annual accountsTurnover
≈ €260,000 estimated
The micro format states no turnover.
Liquidity
2.90 was 2.01 in 2024
Short-term debts fell from €83,400 to €71,111.
Filings
22 annual accounts since 2004
The last five annual accounts were filed 40 to 65 days before the end of the period.
At the same address
34 companies
Position in the sector
€50,246
Higher net result than 88% of companies in retail trade. Sector median €5,052 · 22,900 companies.
Checked score
98
Excellent
Financially stronger than 85% of micro companies in retail trade (NACE 47)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.3%● unchanged vs 07-2025
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026highest value
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.1%▼ -0.2 percentage points vs 06-2026lowest value
08-2026: 0.1%● unchanged vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Sector: Retail trade (NACE 47)
lowers risk
Liquidity: current ratio 2.90, cash €78,698
Founded in 2003
Equity €137,308 (65.9% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 78% of them on solvency, 86% on liquidity, 90% on profitability and 88% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as Shay International has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Shay International itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for Shay International. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €13,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.9 (2.01 in 2024), above the usual 1.5. Short-term debt is 34.1% and cash 37.8% of total assets. 34.1% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 days early
2024
65 days early
2023
40 days early
2022
60 days early
2021
58 days early
2020
29 days early
2019
63 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 53 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 3 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Left the Peppol Directory
Company renamed from SHAY DIAMONDS to Shay International
Appointments: Yacov BIBILASHVILI (director) and BIBILASHVILI Shay (director) · “Klein en groothandel in goudsmidwerk,juwelen en uurwerken; Tussenpersoon in de handel” (deed in Dutch) · Legal-form conversion: from private limited company (pre-2019) to private limited company · General meeting of 20-12-2022 · Gazette deed
First establishment
SHAY DIAMONDS, Hoveniersstraat 40, Antwerp
Incorporation
published on 23-10-2003 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Shay International Antwerp | €208,419 | €54,115 | 65.9% | - |
| RAYAR Antwerp | €236,168 | €66,611 | 42.1% | - |
| JERO DESIGN Ostend | €206,066 | €59,499 | 69.0% | - |
| MOENS ALEX - ALEX MOENS JEWELLERS - WATCH & CLOCKMAKERS SINCE 1928 - JUWELLIER ALEX MOENS - KLOKKENATELIER ALEX MOENS Ghent | €231,269 | €59,005 | 69.9% | - |
| COUMONT L. Wanze | €247,369 | €58,831 | 88.7% | - |
| COLORIBUS Sambreville | €179,039 | €58,000 | 76.0% | - |
| J. PAHAUX Perwez | €163,237 | €52,727 | 38.5% | - |
These companies have the same main activity as Shay International: retail sale of watches and jewellery (NACE 47770). They are comparable in size and age: total assets between €163,000 and €247,000, founded between 2001 and 2005.
Official details
Source: KBO- Status
- Active since 16-10-2003Normal situation
- Registered office
- 36 active companies are registered at this address2 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Retail sale of watches and jewelleryNACE 47770
- Establishment unit
- 2.134.058.3962018 Antwerp, since 01-11-2003
- Financial year end
- 31 December
- Peppol
- Left the register on 21-10-2026
Annual accounts 2025
- €208,419▲ 22.3%
- Filing
- Filed on 08-06-2026, 53 days before the end of the filing period
Insights on Shay International
Shay International files the micro format. That format states no turnover. The gross margin rose from €17,579 in 2006 to €54,115 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Shay International
- What is the company number of Shay International?
- The company number of Shay International is 0861.116.708. The VAT number is the same number with BE in front: BE 0861.116.708.
- Where is Shay International based?
- The registered office is at Hoveniersstraat 40, 2018 Antwerp.Company details
- What does Shay International do?
- According to the KBO register, the main activity is retail sale of watches and jewellery (NACE 47770).
- What is the legal form of Shay International?
- Shay International is a private limited company (BV).
- When was Shay International founded?
- Shay International was founded on 16-10-2003.
- Is Shay International still active?
- Yes, Shay International is an active enterprise in the KBO register.
- What is the turnover of Shay International?
- The turnover in financial year 2025 is ≈ €260,000. This figure is estimated from the gross margin of €54,115 and 45 comparable companies (NACE 477). It probably lies between €140,000 and €350,000.Financials
- Is Shay International profitable?
- In financial year 2025, Shay International made a profit of €50,246.
- Where can I find the annual accounts of Shay International?
- Shay International filed 22 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Shay International due?
- Shay International must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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