ACTIVE

Shay International

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Financial year 2025 · closed on 31/12/2025

Net result

50,2 k €

+197.0% YoY

Gross margin

54,1 k €

+208.0% YoY

Equity

137,3 k €

+57.7% YoY

What does Shay International do?

Shay International is a Private limited company incorporated in 2003. Its main activity is: Retail sale of watches and jewellery in specialised stores. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0861.116.708

Incorporation

16/10/2003

Legal form

Private limited company

Registered office

Hoveniersstraat 40 box 22
2018 Antwerpen · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

47770Retail sale of watches and jewellery in specialised stores· main 47770Retail sale of watches and jewellery in specialised stores 52484Warehousing and support activities for transportation

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	54,1 k €	+208%	-50,1 k €	-136%	-21,2 k €	-256%	13,6 k €	+196%	-14,2 k €	-222%	11,6 k €	+45025%	25,8 €	-99.5%	5,3 k €	+174%	-7,1 k €	-137%	19,3 k €	+1065%	1,7 k €	-25.6%	2,2 k €	-82.9%	13 k €	+71.4%	7,6 k €	+157%	-13,2 k €	-206%	12,4 k €	-72.3%	44,9 k €	+68.3%	26,7 k €	-28.0%	37 k €	+111%	17,6 k €
EBITDA	53,5 k €	+206%	-50,7 k €	-133%	-21,7 k €	-266%	13,1 k €	+189%	-14,7 k €	-232%	11,2 k €	+15563%	-72,3 €	-101%	5,1 k €	+170%	-7,2 k €	-138%	18,9 k €	+1453%	1,2 k €	-32.0%	1,8 k €	-85.8%	12,6 k €	+75.0%	7,2 k €	+153%	-13,6 k €	-216%	11,7 k €	-73.5%	44,2 k €	+70.1%	26 k €	-28.6%	36,3 k €	+117%	16,8 k €
Operating result	53,5 k €	+206%	-50,7 k €	-133%	-21,7 k €	-266%	13,1 k €	+189%	-14,7 k €	-232%	11,2 k €	+15563%	-72,3 €	-101%	5,1 k €	+170%	-7,2 k €	-138%	18,9 k €	+1854%	967,5 €	-37.2%	1,5 k €	-87.5%	12,3 k €	+84.9%	6,7 k €	+147%	-14,2 k €	-228%	11,1 k €	-74.4%	43,3 k €	+93.3%	22,4 k €	-32.2%	33 k €	+145%	13,5 k €
Net result	50,2 k €	+197%	-51,8 k €	-135%	-22 k €	-273%	12,8 k €	+186%	-14,8 k €	-235%	11 k €	+9060%	120,1 €	-97.3%	4,5 k €	+159%	-7,6 k €	-148%	15,8 k €	+3095%	494,1 €	-65.8%	1,4 k €	-88.1%	12,2 k €	+87.0%	6,5 k €	+146%	-14,2 k €	-389%	4,9 k €	-85.6%	33,9 k €	+302%	8,4 k €	-60.0%	21,1 k €	+94.2%	10,9 k €
Balance sheet
Equity	137,3 k €	+57.7%	87,1 k €	-37.3%	138,9 k €	-13.7%	160,9 k €	+8.6%	148,1 k €	-9.1%	162,9 k €	+7.2%	151,9 k €	+0.1%	151,8 k €	+3.0%	147,3 k €	-4.9%	154,9 k €	+11.3%	139,2 k €	+0.4%	138,7 k €	+1.1%	137,2 k €	+9.7%	125 k €	+5.5%	118,5 k €	-10.7%	132,7 k €	+3.8%	127,8 k €	+36.1%	93,9 k €	+9.9%	85,4 k €	+32.8%	64,3 k €
Total assets	208,4 k €	+22.3%	170,5 k €	-14.5%	199,4 k €	-10.6%	223 k €	+3.6%	215,2 k €	-2.2%	220,1 k €	-7.2%	237,1 k €	+23.1%	192,6 k €	+2.4%	188,1 k €	-4.5%	196,9 k €	-11.4%	222,3 k €	-1.6%	225,9 k €	+8.1%	208,9 k €	-7.0%	224,6 k €	+11.7%	201,1 k €	+10.9%	181,4 k €	-8.8%	198,8 k €	-15.8%	236,2 k €	+93.9%	121,8 k €	+24.7%	97,6 k €
Cash	78,7 k €	+33.8%	58,8 k €	-28.4%	82,2 k €	+65.4%	49,7 k €	+133%	21,3 k €	-59.3%	52,3 k €	+20.9%	43,3 k €	+106%	21,1 k €	-49.7%	41,9 k €	+176%	15,2 k €	-13.7%	17,6 k €	+9.1%	16,1 k €	+4.6%	15,4 k €	-3.5%	16 k €	+25.5%	12,7 k €	-9.2%	14 k €	-51.1%	28,7 k €	+139%	12 k €	-76.7%	51,6 k €	+312%	12,5 k €
Debts	71,1 k €	-14.7%	83,4 k €	+37.7%	60,6 k €	-2.5%	62,1 k €	-7.3%	67 k €	+17.4%	57,1 k €	-32.9%	85,2 k €	+109%	40,8 k €	+0.0%	40,8 k €	-2.8%	41,9 k €	-49.6%	83,1 k €	-4.7%	87,2 k €	+21.6%	71,7 k €	-28.0%	99,6 k €	+21.5%	82 k €	+105%	40 k €	-43.6%	71 k €	-50.1%	142,3 k €	+337%	32,6 k €	-2.2%	33,3 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 5 ended

Active mandates

Shay Bibilashvili

Director

Active

Yacov Bibilashvili

Director

Active

Ended mandates

Yacov Bibilashvili

Director · since 02 octobre 2003

Ended

Yacov Bibilashvili

Manager · since 02 octobre 2003

Ended

Yakov Biblilashvili

Manager · since 02 octobre 2003

Ended

Yacov Bibilashvili

Manager

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	08/06/2026	27/05/2025	21/06/2024	01/06/2023	03/06/2022	02/07/2021
General meeting	27/05/2026	14/05/2025	29/05/2024	29/03/2023	25/05/2022	26/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	27/05/2026	08/06/2026	Dutch	PDF
Micro model	31/12/2024	14/05/2025	27/05/2025	Dutch	PDF
Micro model	31/12/2023	29/05/2024	21/06/2024	Dutch	PDF
Micro model	31/12/2022	29/03/2023	01/06/2023	Dutch	PDF
Micro model	31/12/2021	25/05/2022	03/06/2022	Dutch	PDF
Micro model	31/12/2020	26/05/2021	02/07/2021	Dutch	PDF
Micro model	31/12/2019	27/05/2020	29/05/2020	Dutch	PDF
Micro model	31/12/2018	29/05/2019	26/06/2019	Dutch	PDF
Micro model	31/12/2017	30/05/2018	25/06/2018	Dutch	PDF
Micro model	31/12/2016	31/05/2017	13/06/2017	Dutch	PDF
Abridged model	31/12/2015	25/05/2016	20/06/2016	Dutch	PDF
Abridged model	31/12/2014	24/06/2015	29/06/2015	Dutch	PDF
Abridged model	31/12/2013	25/06/2014	23/07/2014	Dutch	PDF
Abridged model	31/12/2012	29/05/2013	26/06/2013	Dutch	PDF
Abridged model	31/12/2011	30/05/2012	03/07/2012	Dutch	PDF
Abridged model	31/12/2010	25/05/2011	10/06/2011	Dutch	PDF
Abridged model	31/12/2009	26/05/2010	01/06/2010	Dutch	PDF
Abridged model	31/12/2008	27/05/2009	28/05/2009	Dutch	PDF
Abridged model	31/12/2007	28/05/2008	13/06/2008	Dutch	PDF
Abridged model	31/12/2006	30/05/2007	18/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 5 ended

Active mandates

Shay Bibilashvili

Director

Active

Yacov Bibilashvili

Director

Active

Ended mandates

Yacov Bibilashvili

Director · since 02 octobre 2003

Ended

Yacov Bibilashvili

Manager · since 02 octobre 2003

Ended

Yakov Biblilashvili

Manager · since 02 octobre 2003

Ended

Yacov Bibilashvili

Manager

Ended

Shareholders

Ownership and network

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Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202550,2 k €↑
2024
Annual accounts 2024-51,8 k €↓
2023
Annual accounts 2023-22 k €↓
2022
Annual accounts 202212,8 k €↑
2022
Name changeSHAY INTERNATIONAL
2021
Annual accounts 2021-14,8 k €↓
2021
Name changeSHAY DIAMONDS
2020
Annual accounts 202011 k €↑
2019
Annual accounts 2019120,1 €↓
2018
Annual accounts 20184,5 k €↑
2017
Annual accounts 2017-7,6 k €↓
2016
Annual accounts 201615,8 k €↑
2015
Annual accounts 2015494,1 €↓
2014
Annual accounts 20141,4 k €↓
2013
Annual accounts 201312,2 k €↑
2012
Annual accounts 20126,5 k €↑
2011
Annual accounts 2011-14,2 k €↓
2010
Annual accounts 20104,9 k €↓
2009
Annual accounts 200933,9 k €↑
2008
Annual accounts 20088,4 k €↓
2007
Annual accounts 200721,1 k €↑
2006
Annual accounts 200610,9 k €
16/10/2003
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Shay International

Overview

What does Shay International do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Similar companies

Similar companies

Timeline