This study addresses a gap in the literature by conducting a comparative analysis of statistical and artificial intelligence techniques for predicting bankruptcy in small and medium-sized enterprises (SMEs). Using a comprehensive database of 7,104 Belgian SMEs, our findings demonstrate that intelligent techniques offer superior predictive accuracy for bankruptcy. Notably, our results indicate that a firm's position in the global value chain significantly affects prediction accuracy, with lower performance for firms operating upstream in the production process. This suggests that bankruptcy risk may spread upward along the value chain. This insight is particularly valuable for practitioners, as it highlights the importance of focusing on specific performance factors based on the type of firms they manage, advise, or collaborate with.