Capital, people and business. Discover the differences on the map.
42 TERRITORIES · BALANCE SHEETS AND TENDERS 2025
Equity · RON
42 of 42 territories with values · Relative scale across counties in this selection · square-root spacing, anchored at zero. Colours are recalculated when the selection changes.▧ No data
Covasna · Producția de energie electrică · CAEN 3511 · balance sheets available for 2025
Sales
-5.5%
5 comparable companies · 2025 / 2024
Profitability
11.1%
5 eligible companies · 50% of companies with a known result are profitable
Concentration
100%
Share of the selection's turnover · 2025
Updated 9/18/2026, 8:47:03 PM · balance sheets 2025 / 2024
Turnover and jobs, by the companies' current registered office. Pick a county from the list to continue the analysis.
Covasna holds 0% of observed sales in the selected sector, with 10 companies.
Top 8 · 2025 balance sheets · share of the located-county total
Top 8 by reported average headcount · share of the located-county total
Compare the main activities in Covasna. Open a sector for details.
In Fabricarea produselor lactate și a brânzeturilor, ten companies make 100% of sales. In Comerț alimentar nespecializat, only 31.9%.
SECTOR RADIOGRAPHY
Concentration extremes among the top 8 sectors by turnover · share of observed sales, not market share
The main activity from the balance sheet. The name describes the code, not all of the company's authorised activities.
1.42B RON
7 comparable
100%
100%
The main activity from the balance sheet. The name describes the code, not all of the company's authorised activities.
833.82M RON
267 comparable
57.6%
57.6%
The main activity from the balance sheet. The name describes the code, not all of the company's authorised activities.
796.2M RON
11 comparable
100%
100%
The definitions differ between revisions. Figures are grouped by the code reported in the balance sheet; each company's revision is not confirmed.
557.51M RON
6 comparable
100%
100%
The definitions differ between revisions. Figures are grouped by the code reported in the balance sheet; each company's revision is not confirmed.
523.26M RON
287 comparable
31.9%
31.9%
The main activity from the balance sheet. The name describes the code, not all of the company's authorised activities.
311.85M RON
3 comparable
100%
100%
The main activity from the balance sheet. The name describes the code, not all of the company's authorised activities.
249.79M RON
30 comparable
84.6%
84.6%
The main activity from the balance sheet. The name describes the code, not all of the company's authorised activities.
239M RON
27 comparable
94.8%
94.8%
The main activity from the balance sheet. The name describes the code, not all of the company's authorised activities.
227.75M RON
12 comparable
99.7%
99.7%
The definitions differ between revisions. Figures are grouped by the code reported in the balance sheet; each company's revision is not confirmed.
225.74M RON
5 comparable
100%
100%
One company, one main code. Growth uses the same companies in both years; missing values remain "—". CAEN definitions sit next to each name.
Beyond the giants: sales and margin of the company in the middle of the distribution.
The typical company sells 736.42K RON a year and keeps 11.1% of sales as net profit.
Companies by margin band · net profit / positive turnover
5 companies with a known profit and positive sales; 5 excluded. Bands describe margins, not bankruptcy risk.
Same companies, two years. Compare the change in sales with the change in jobs.
80% of the 5 comparable companies sold more in 2025 than in 2024.
Number of companies with comparable data, split by direction of change
Nominal changes in RON, not adjusted for inflation. Companies without data in one of the years are not compared.
Growth, survival, concentration, the trade register and state dependence in 2025: the national figure and the counties at both ends, for every map layer.
Turnover change at the same companies · % vs 2025−1
Nationally: -5.5% in 2025. Highest values: Vaslui (+264%), Sălaj (+242.7%), Bistrița-Năsăud (+84.4%), Cluj (+75.5%), Harghita (+72.3%). Lowest: Vâlcea (-71.7%), Bacău (-44.3%), Mehedinți (-38.4%), Suceava (-33.7%), Alba (-28.1%). 37 counties with data.
Average annual turnover growth at the same companies · % per year, 5 years
Highest values: Mureș (+64.2%), Brăila (+40.5%), Maramureș (+28.5%), Iași (+27.4%), Argeș (+23%). Lowest: Călărași (-16.3%), Hunedoara (-9.1%), Arad (-7%), Prahova (-3%), Bihor (+2.5%). 25 counties with data.
Companies that filed five years ago and still file in 2025 · %
Nationally: 83.3% in 2025. Highest values: Călărași (100%), Alba (92.3%), Sibiu (91.7%), Gorj (90.9%), Vâlcea (90.9%). Lowest: Galați (43.8%), Bacău (46.2%), Maramureș (52%), Constanța (55%), Prahova (55%). 39 counties with data.
Companies with a net loss · % of those reporting a result
Nationally: 10% in 2025. Highest values: Caraș-Severin (75%), Brașov (73.9%), Galați (73%), Iași (72.7%), Timiș (70.2%). Lowest: Covasna (10%), Călărași (25.9%), Satu Mare (34.9%), Bihor (35.9%), Gorj (36%). 42 counties with data.
Companies with negative equity · % of those reporting equity
Nationally: 10% in 2025. Highest values: Arad (73%), Giurgiu (71.4%), Galați (70.3%), Olt (69.2%), Brașov (68.7%). Lowest: Covasna (10%), Vrancea (33.3%), Suceava (34.5%), Vaslui (35.3%), Bistrița-Năsăud (35.5%). 42 counties with data.
Share of the top 10 companies in turnover · %
Highest values: Alba (100%), Arad (100%), Buzău (100%), Călărași (100%), Dâmbovița (100%). Lowest: Timiș (73.2%), Bihor (84.2%), Ilfov (86.5%), Bacău (95.6%), Cluj (96.5%). 30 counties with data.
Median turnover · RON
Nationally: 736.42K RON in 2025. Highest values: Covasna (736.42K RON), Bacău (163.83K RON), Vaslui (46.3K RON), Satu Mare (39.02K RON), Maramureș (9.7K RON). Lowest: Vâlcea (0 RON), Teleorman (0 RON), Timiș (0 RON), Tulcea (0 RON), Suceava (0 RON). 42 counties with data.
Turnover per employee · RON
Highest values: Dâmbovița (20.91M RON), Vaslui (3.13M RON), București (2.36M RON), Prahova (2.09M RON), Ilfov (1.74M RON). Lowest: Galați (105.33 RON), Hunedoara (55.64K RON), Vâlcea (75.36K RON), Călărași (89.55K RON), Alba (130.42K RON). 40 counties with data.
The same aggregates as on the map, also available as tables, with a stable citation for every version.
Analysis: DemoANAF.ro · Covasna · CAEN 3511.
In Covasna, the 2025 report covers 10 companies with available indicators (CAEN 3511). This is the observed sample, not the number of all registered companies.
The median net margin is 11.1% in 2025, computed for 5 companies with positive sales and a known net result, including loss-making companies. 5 companies do not meet these conditions.
0 companies have strictly positive margins of at most 2% (0% of eligible companies). 1 eligible companies have negative margins.
5 of 10 companies with a known net result are profitable: 50%. The cumulative net result, after subtracting losses, is 2.14M RON.
The cumulative turnover of the 5 comparable companies changed by -5.5% between 2024 and 2025, in nominal RON.
Ghidfalău (Covasna), CAEN 3511, 2025: 1 located companies, — employees reported, 4.2K RON net result and — median net margin (0 eligible companies).
| Territory / activity | Companies | Sales | Net profit | Employees | Equity | Median margin |
|---|---|---|---|---|---|---|
| Alba | 25 | 911.53K RON | 15.88K RON | 4 | -4.39M RON | 34.4% |
| Arad | 74 | 122.22M RON | -6.83M RON | 201 | -314.93M RON | -0.3% |
| Argeș | 52 | 6.64M RON | -3.64M RON | 17 | 22.24B RON | 35.4% |
| Bacău | 25 | 4.4M RON | -1.75M RON | 10 | 2.94M RON | 0.7% |
| Bihor | 103 | 29.75M RON | 16.24M RON | 43 | 125.02M RON | 49.4% |
| Bistrița-Năsăud | 31 | 23.43M RON | 12.86M RON | 21 | 50.74M RON | 10.1% |
| Botoșani | 11 | 170.9K RON | -77.79K RON | 1 | 557.59K RON | 2.4% |
| Brăila | 36 | 9.05M RON | 1.19M RON | 12 | 15.52M RON | 11.3% |
| Brașov | 115 | 174.68M RON | 28.38M RON | 166 | 242.1M RON | 15.7% |
| București | 895 | 19.04B RON | 5.87B RON | 8,034 | 43.36B RON | 26.1% |
| Buzău | 30 | 3.22M RON | -1.89M RON | 10 | 812.3K RON | 1.8% |
| Călărași | 54 | 456.29K RON | -889.19K RON | 3 | -13.71M RON | -38.8% |
| Caraș-Severin | 12 | 592.78K RON | -3.2M RON | 5 | 28.38M RON | -255.1% |
| Cluj | 133 | 57.09M RON | -18.22M RON | 38 | 53.62M RON | 11.4% |
| Constanța | 134 | 597.68M RON | -11.17M RON | 364 | 469.73M RON | 1% |
| Covasna | 10 | 5.16M RON | 2.14M RON | 0 | 9.63M RON | 11.1% |
| Dâmbovița | 31 | 146.45M RON | 4.28M RON | 9 | 162.87M RON | 6.5% |
| Dolj | 61 | 569.29M RON | -1.09B RON | 470 | -876.7M RON | 0.3% |
| Galați | 37 | 17.75K RON | -579.85K RON | 3 | 1.63M RON | -539.1% |
| Giurgiu | 35 | 21.73M RON | -1.11M RON | 82 | -204.45M RON | 7.3% |
| Gorj | 54 | 3.49B RON | -1.12B RON | 7,963 | 4.26B RON | 13.5% |
| Harghita | 18 | 499.99K RON | -5.15M RON | 1 | 6.28M RON | 69.5% |
| Hunedoara | 28 | 129.54M RON | -87.38M RON | 2,302 | -9.88B RON | 2.5% |
| Ialomița | 41 | 1.27M RON | -1.19M RON | 3 | 2.35M RON | 30.4% |
| Iași | 33 | 7.7M RON | -137.78K RON | 17 | 1.2M RON | 17% |
| Ilfov | 160 | 139.55M RON | 4.43M RON | 81 | 50.36M RON | 19% |
| Județ necunoscut | 1 | 12.99M RON | 693.67K RON | — | 8.27M RON | 5.3% |
| Maramureș | 19 | 2.89M RON | 1.27M RON | 12 | 6.77M RON | 47.5% |
| Mehedinți | 16 | 11.9M RON | 629.58K RON | 17 | 12.75M RON | 21.9% |
| Mureș | 49 | 28.68M RON | -40.95M RON | 21 | -41.62M RON | 0.6% |
| Neamț | 11 | 16.27M RON | -4.54M RON | 16 | -22.93M RON | -25% |
| Olt | 13 | 205.38K RON | 81.58K RON | 0 | 301.84K RON | 82.8% |
| Prahova | 53 | 38.19M RON | -561.6K RON | 20 | 17.13M RON | 5.7% |
| Sălaj | 15 | 353.3K RON | 102.39K RON | 3 | -616.05K RON | 5.1% |
| Satu Mare | 63 | 111.03M RON | 19.71M RON | 66 | 44.18M RON | 31.9% |
| Sibiu | 57 | 16.35M RON | 19.52M RON | 28 | -39.94M RON | 87.9% |
| Suceava | 29 | 3.02M RON | 325.76K RON | 7 | 1.92M RON | 22.7% |
| Teleorman | 17 | 555.55K RON | -1.85M RON | 4 | -11.68M RON | -39.5% |
| Timiș | 228 | 41.15M RON | -5.05M RON | 64 | 94.4M RON | 3.6% |
| Tulcea | 66 | 14.76M RON | 357.32K RON | 46 | 30.79M RON | 33.2% |
| Territory / activity | Companies | Sales | Net profit | Employees | Equity | Median margin |
|---|---|---|---|---|---|---|
| Sfântu Gheorghe | 3 | 736.42K RON | 1.64M RON | 0 | 3.56M RON | 222.2% |
| Baraolt | 1 | — | 0 RON | — | 2.51K RON | — |
| Covasna | 1 | 2.65K RON | -3.38K RON | 0 | 26.19K RON | -127.3% |
| Târgu Secuiesc | 3 | 4.42M RON | 499.03K RON | 0 | 6.04M RON | 11.1% |
| Ghidfalău | 1 | — | 4.2K RON | — | 1.09K RON | — |
| Zăbala | 1 | — | 0 RON | — | 200 RON | — |
National series independent of CAEN: initiation notices published in 2025, by the authority's current office. Values are estimates, not payments.
| Territory / activity | Notices | Value (RON) |
|---|---|---|
| Brașov | 834 | 5.85B RON |
| Ialomița | 180 | 1.07B RON |
| Iași | 1,086 | 14.34B RON |
| Tulcea | 177 | 1.17B RON |
| Mehedinți | 187 | 918.76M RON |
| Vâlcea | 384 | 2.27B RON |
| Mureș | 740 | 8.41B RON |
| București | 6,659 | 146.69B RON |
| Bacău | 429 | 2.57B RON |
| Maramureș | 371 | 2.83B RON |
| Botoșani | 321 | 1.32B RON |
| Brăila | 358 | 1.49B RON |
| Galați | 577 | 5.68B RON |
| Dâmbovița | 367 | 3.11B RON |
| Caraș-Severin | 241 | 1.42B RON |
| Hunedoara | 482 | 2.3B RON |
| Prahova | 552 | 4.43B RON |
| Călărași | 174 | 765.83M RON |
| Ilfov | 553 | 6.78B RON |
| Constanța | 757 | 7.24B RON |
| Bihor | 658 | 4.49B RON |
| Sibiu | 908 | 5.72B RON |
| Timiș | 915 | 8.62B RON |
| Olt | 304 | 1.2B RON |
| Cluj | 1,484 | 15.53B RON |
| Vaslui | 366 | 1.65B RON |
| Giurgiu | 171 | 1.94B RON |
| Neamț | 346 | 1.76B RON |
| Gorj | 601 | 3.25B RON |
| Sălaj | 265 | 1.1B RON |
| Alba | 359 | 1.58B RON |
| Suceava | 567 | 3.91B RON |
| Argeș | 532 | 2.2B RON |
| Dolj | 661 | 13.33B RON |
| Bistrița-Năsăud | 272 | 1.71B RON |
| Teleorman | 229 | 1.58B RON |
| Arad | 386 | 3.25B RON |
| Buzău | 278 | 1.02B RON |
| Vrancea | 277 | 3.31B RON |
| Covasna | 255 | 1.01B RON |
| Harghita | 333 | 2.68B RON |
| Satu Mare | 291 | 2.55B RON |
| Județ necunoscut | 22 | 21.89M RON |
| UAT Ilieni | 1 | 36.03K RON |
| UAT Ozun | 4 | 8.38M RON |
| UAT Zăbala | 2 | 1.18M RON |
| UAT Sfântu Gheorghe | 118 | 645.91M RON |
| UAT Bățani | 3 | 13.82M RON |
| UAT Târgu Secuiesc | 22 | 29.05M RON |
| UAT Bixad | 1 | 2.97M RON |
| UAT Turia | 2 | 12.73M RON |
| UAT Ghelința | 2 | 5.77M RON |
| UAT Estelnic | 1 | 375K RON |
| UAT Brăduț | 1 | 52.5K RON |
| UAT Ojdula | 3 | 4.47M RON |
| UAT Bodoc | 1 | 15.68M RON |
| UAT Aita Mare | 1 | 996.63K RON |
| UAT Chichiș | 1 | 1.81M RON |
| UAT Mereni | 1 | 7.85M RON |
| UAT Reci | 3 | 14.57M RON |
| UAT Zagon | 7 | 19.13M RON |
| UAT Cernat | 1 | 13.64M RON |
| UAT Brateș | 1 | 4.5M RON |
| UAT Sita Buzăului | 3 | 8.48M RON |
| UAT Vârghiș | 1 | 9.16M RON |
| UAT Lemnia | 1 | 9.43M RON |
| UAT Dobârlău | 4 | 4.63M RON |
Computed on 9/18/2026, 8:47:03 PM · version 20260918174703963. Annual data may be revised when new balance sheets arrive.
DemoANAF.ro. Romania business report 2025 — Covasna, CAEN 3511, Ghidfalău. Version 20260918174703963, computed on 2026-09-18T17:47:03.963Z. https://demoanaf.ro/en/raport-afaceri-romania-2025?judet=Covasna&caen=3511&uat=64345#date-raport Data: https://demoanaf.ro/rapoarte/afaceri-romania-2025/date.csv?rev=20260918174703963
SRL, SRL-D and SA registrations observed in Romania. National series, independent of the financial filters.
Most new companies appeared in July: 10,734 observed registrations.
Earliest available registration for each CUI · coverage not confirmed
Solid line: 2025
| Month | 2025 |
|---|---|
| Jan | 6,313 |
| Feb | 8,206 |
| Mar | 8,589 |
| Apr | 7,449 |
| May | 8,145 |
| Jun | 7,682 |
| Jul | 10,734 |
| Aug | 7,697 |
| Sep | 9,208 |
| Oct | 9,472 |
| Nov | 9,682 |
| Dec | 7,334 |
Coverage not confirmed: differences between series may reflect missing data. Months without observations do not mean zero.
Pace of distinct contracts recorded in SEAP. National series, by contract date.
The month with the most SEAP contracts was April: 12,765 distinct contracts.
A contract's lots and suppliers are not counted as separate contracts
Solid line: 2025
| Month | 2025 |
|---|---|
| Jan | 10,684 |
| Feb | 9,665 |
| Mar | 11,690 |
| Apr | 12,765 |
| May | 11,213 |
| Jun | 9,725 |
| Jul | 9,714 |
| Aug | 9,094 |
| Sep | 9,436 |
| Oct | 12,761 |
| Nov | 12,032 |
| Dec | 9,769 |
Period coverage is not confirmed. We count contracts, not payments; awarded values are not actual spending.
Every percentage must have a clear population, a period and a source.
We analyse companies with financial indicators available for 2025. This is not a census of all companies and does not implicitly cover only SRL/SA. The coverage of each indicator is shown separately.
Annual balance sheets do not measure H1 2026 results. Companies are linked by CUI. We compare only values available in both years. Geographic and CAEN groups are those of the 2025 cohort; we do not measure relocations or sector changes.
We use the main code from the balance sheet, normalised to four digits. Authorised activities are not summed. Short titles describe the activities; the exact Rev.2 and Rev.3 definitions sit next to each code. Where they differ, both are shown, without assuming the company's revision or historical equivalence.
A missing value stays unknown. Margins require positive turnover and a known net result, including losses. The median treats every company equally. The aggregate margin uses the sums of profit and sales for exactly the same eligible companies. The bands are: below 0%, exactly 0%, above 0% up to and including 2%, above 2% up to and including 5%, above 5% up to and including 10%, and above 10%. They are not solvency thresholds. Growth rates are undefined when the baseline is zero or negative.
Capital means equity (I10), including negative values, not turnover or share capital. Employees are the reported annual averages, attributed to the current office; the per-company average uses only companies with this indicator known. Tenders are initiation notices published in 2025, located by the authority's current office. Values are estimates, not payments. Colours use fixed numeric references, not ranks or quartiles. Margins have references at −10%, 0%, 2%, 5%, 10% and 20%; extreme values keep the exact number but saturate the colour. Totals use a logarithmic magnitude scale with references in the indicator's units. Each territory has a single observed value; we do not interpolate between localities. The same value keeps the same colour when the county, local unit or CAEN changes. Hatched areas have no values available. Local-unit boundaries come from ANCPI, processed by geo-spatial.org (2025). Localities are linked to local units through the INS SIRUTA 2025 nomenclature. Ambiguous addresses stay in the county total; local units use references adapted to local magnitude, constant across counties and years.
All amounts are reported in RON. Conversion to EUR uses the annual average rate published by BNR for the report year; for USD, and for years without a published average, we use the arithmetic mean of the European Central Bank's daily reference rates. Today's rate is never used. It is an indicative conversion for comparison, not an accounting revaluation.
The report is recomputed periodically from the available data. The generation date does not prove the source is complete. Changes to balance sheets may revise this edition's results.
Sources: ANAF — balance sheets; ONRC — company register; SEAP / data.gov.ro — contracts. See the data sources. Download the SVG map · ANCPI boundaries · geo-spatial.org · INS · SIRUTA 2025
