PRO
Statistics / Annual report

Romania, county by county. 2025

Capital, people and business. Discover the differences on the map.

42 TERRITORIES · BALANCE SHEETS AND TENDERS 2025

Where capital gathers

Explore the localities
Main activity · CAEN 43222025
Covasna: 8.76M RON
Loading localities…

Equity · RON

Blue: low valuesYellow: high values
0
70.3M
281.3M
632.9M
1.1B

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

Report financial filters: Covasna · CAEN 4322

Covasna · Lucrări de instalații sanitare, de încălzire și de aer condiționat · CAEN 4322 · balance sheets available for 2025

Sales

-2.7%

Lower sales, at the same companies.

37 comparable companies · 2025 / 2024

Profitability

9.3%

Net margin of the typical company.

43 eligible companies · 68.9% of companies with a known result are profitable

Concentration

82.1%

Of sales, in the hands of the top ten companies.

Share of the selection's turnover · 2025

Size of the selection

Updated 9/18/2026, 2:44:30 PM · balance sheets 2025 / 2024

Companies analysed
45
With at least one financial indicator available
Cumulative turnover
37.34M RON
45 companies with a known value
Cumulative net result
3.5M RON
45 companies · profit minus losses
Employees reported
141
39 companies · annual averages summed
/01Geography

Where business concentrates

Turnover and jobs, by the companies' current registered office. Pick a county from the list to continue the analysis.

Covasna holds 0.2% of observed sales in the selected sector, with 45 companies.

Counties by turnover

Top 8 · 2025 balance sheets · share of the located-county total

  1. 4.68B RON28.8%
  2. 1.13B RON6.9%
  3. 1.11B RON6.8%
  4. 967.71M RON6%
  5. 742.97M RON4.6%
  6. 739.05M RON4.6%
  7. 583.76M RON3.6%
  8. 568.92M RON3.5%

Where the employees are

Top 8 by reported average headcount · share of the located-county total

  1. 10,22725.3%
  2. 2,4536.1%
  3. 2,3695.9%
  4. 2,0555.1%
  5. 1,7644.4%
  6. 1,6684.1%
  7. 1,6334%
  8. 1,4813.7%
/02CAEN sectors

Which sectors drive the economy?

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%.

How much of a sector fits in ten companies?

Concentration extremes among the top 8 sectors by turnover · share of observed sales, not market share

  1. Fabricarea produselor lactate și a brânzeturilor100%
  2. Comerț alimentar nespecializat31.9%
41 sectors · descending orderTurnover · 2025
01
11 companies

1.42B RON

Turnover · 2025/2024+13.1%

7 comparable

Top 10 companies

100%

02
331 companies

833.82M RON

Turnover · 2025/2024+0.6%

267 comparable

Top 10 companies

57.6%

03
18 companies

796.2M RON

Turnover · 2025/2024-13.8%

11 comparable

Top 10 companies

100%

04
7 companies

557.51M RON

Turnover · 2025/2024+2.2%

6 comparable

Top 10 companies

100%

05
333 companies

523.26M RON

Turnover · 2025/2024+0.8%

287 comparable

Top 10 companies

31.9%

06
3 companies

311.85M RON

Turnover · 2025/2024+3.4%

3 comparable

Top 10 companies

100%

07
31 companies

249.79M RON

Turnover · 2025/2024+18.3%

30 comparable

Top 10 companies

84.6%

08
55 companies

239M RON

Turnover · 2025/2024+37.3%

27 comparable

Top 10 companies

94.8%

09
13 companies

227.75M RON

Turnover · 2025/2024+8.7%

12 comparable

Top 10 companies

99.7%

10
7 companies

225.74M RON

Turnover · 2025/2024+0.2%

5 comparable

Top 10 companies

100%

One company, one main code. Growth uses the same companies in both years; missing values remain "—". CAEN definitions sit next to each name.

/03Performance

What the typical company looks like

Beyond the giants: sales and margin of the company in the middle of the distribution.

The typical company sells 205.64K RON a year and keeps 9.3% of sales as net profit.

Median turnover
205.64K RON
45 values available
Median net margin
9.3%
43 eligible companies
Aggregate net margin
9.4%
Cumulative profit / cumulative sales, same companies
Profitable companies
68.9%
31 of 45 with a known result
National median · CAEN 4322
9.8%
Same activity, all of Romania

Distribution of net margins

Companies by margin band · net profit / positive turnover

  • Loss1227.9%
  • Zero result00%
  • Above 0–2%37%
  • Above 2–5%00%
  • Above 5–10%920.9%
  • Above 10%1944.2%

43 companies with a known profit and positive sales; 2 excluded. Bands describe margins, not bankruptcy risk.

/04Change

Who grew. Who shrank.

Same companies, two years. Compare the change in sales with the change in jobs.

64.9% of the 37 comparable companies sold more in 2025 than in 2024.

Cumulative turnover
-2.7%
37 companies with turnover in both years
Median turnover change
+3.5%
Only companies with a positive 2024 baseline
Number of employees
-8%
30 companies with employees reported in both years

More sales or fewer?

Number of companies with comparable data, split by direction of change

  • Growth2464.9%
  • Decline1335.1%
  • No change00%

Nominal changes in RON, not adjusted for inflation. Companies without data in one of the years are not compared.

/05Dynamics

Company dynamics, county by county

Growth, survival, concentration, the trade register and state dependence in 2025: the national figure and the counties at both ends, for every map layer.

How much business grew on last year

Turnover change at the same companies · % vs 2025−1

Nationally: -2.7% in 2025. Highest values: Mehedinți (+64.4%), Giurgiu (+49.8%), Galați (+33.4%), Buzău (+32.8%), Alba (+31.9%). Lowest: Olt (-27%), Brăila (-8.8%), Covasna (-2.7%), Prahova (-1.6%), Satu Mare (+0.1%). 42 counties with data.

The five-year growth pace

Average annual turnover growth at the same companies · % per year, 5 years

Nationally: +8.4% in 2025. Highest values: Dolj (+26%), Arad (+25.3%), Giurgiu (+22.5%), Mehedinți (+20.4%), Mureș (+17.1%). Lowest: Vrancea (+3.7%), Iași (+6.5%), Satu Mare (+6.5%), Neamț (+7%), Dâmbovița (+7.4%). 42 counties with data.

How many companies still file after five years

Companies that filed five years ago and still file in 2025 · %

Nationally: 80% in 2025. Highest values: Harghita (89.2%), Sălaj (85.9%), Suceava (83%), Ialomița (81.4%), Vâlcea (81.1%). Lowest: Dâmbovița (66.4%), Botoșani (67.4%), Buzău (68.7%), Tulcea (70.4%), Caraș-Severin (70.7%). 42 counties with data.

Where money is lost

Companies with a net loss · % of those reporting a result

Nationally: 26.7% in 2025. Highest values: Ialomița (43.6%), Constanța (37.3%), Vrancea (36.3%), Caraș-Severin (35.9%), Brașov (35.8%). Lowest: Vaslui (20.7%), Neamț (21.6%), Botoșani (22.4%), Bihor (23.9%), Buzău (24%). 42 counties with data.

Companies with negative equity

Companies with negative equity · % of those reporting equity

Nationally: 22.2% in 2025. Highest values: Ialomița (40%), Arad (37.1%), Brăila (35.5%), Caraș-Severin (34.4%), Brașov (32.4%). Lowest: Neamț (11.4%), Vaslui (18.4%), Bistrița-Năsăud (18.6%), Harghita (19.6%), Giurgiu (19.6%). 42 counties with data.

How much the top 10 hold

Share of the top 10 companies in turnover · %

Nationally: 82.1% in 2025. Highest values: Mehedinți (87.1%), Călărași (84.6%), Ialomița (83.6%), Covasna (82.1%), Galați (80.2%). Lowest: București (33.3%), Ilfov (40.9%), Constanța (41.2%), Neamț (42.7%), Prahova (43%). 42 counties with data.

What the middle company earns

Median turnover · RON

Nationally: 205.64K RON in 2025. Highest values: Harghita (365.41K RON), Buzău (275.62K RON), Sibiu (264.58K RON), Ilfov (248.19K RON), Suceava (232.99K RON). Lowest: Gorj (128.26K RON), Vrancea (137.41K RON), Bacău (139.3K RON), Maramureș (143.58K RON), Călărași (146.13K RON). 42 counties with data.

Turnover per employee

Turnover per employee · RON

Nationally: 259.84K RON in 2025. Highest values: Buzău (488.78K RON), Bistrița-Năsăud (481.32K RON), Timiș (465.05K RON), Cluj (457.46K RON), Alba (455.23K RON). Lowest: Tulcea (199.41K RON), Mehedinți (209.55K RON), Sălaj (219.95K RON), Gorj (220.24K RON), Brăila (221.24K RON). 42 counties with data.

/06Data

The data behind the map

The same aggregates as on the map, also available as tables, with a stable citation for every version.

Analysis: DemoANAF.ro · Covasna · CAEN 4322.

In Covasna, the 2025 report covers 45 companies with available indicators (CAEN 4322). This is the observed sample, not the number of all registered companies.

The median net margin is 9.3% in 2025, computed for 43 companies with positive sales and a known net result, including loss-making companies. 2 companies do not meet these conditions.

3 companies have strictly positive margins of at most 2% (7% of eligible companies). 12 eligible companies have negative margins.

31 of 45 companies with a known net result are profitable: 68.9%. The cumulative net result, after subtracting losses, is 3.5M RON.

The cumulative turnover of the 37 comparable companies changed by -2.7% between 2024 and 2025, in nominal RON.

Counties · 43
Counties · 2025 balance sheets · values in RON · unknown values are marked "—".
Territory / activityCompaniesSalesNet profitEmployeesEquityMedian margin
Alba203302M RON49.43M RON650153.52M RON7.6%
Arad248283.88M RON31.28M RON75655.25M RON6.5%
Argeș262272.52M RON54.63M RON708189.99M RON7.3%
Bacău193319.83M RON23.94M RON79984.29M RON7.4%
Bihor330336.39M RON23.04M RON78762.36M RON10.5%
Bistrița-Năsăud113148.66M RON13.73M RON31036.4M RON8.1%
Botoșani6748.85M RON9.45M RON1869.94M RON9.7%
Brăila10785.75M RON8.19M RON38431.66M RON7.7%
Brașov386742.97M RON38.49M RON1,764124.77M RON6%
București2,1994.68B RON423.9M RON10,2271.13B RON12.5%
Buzău150284.88M RON39.92M RON57971.67M RON9.9%
Călărași7390.8M RON12.99M RON32734.9M RON12.7%
Caraș-Severin6455.07M RON3.71M RON1879.87M RON4.6%
Cluj7571.11B RON156.1M RON2,369377.71M RON12.2%
Constanța453400.54M RON40.03M RON1,48172.67M RON7.3%
Covasna4537.34M RON3.5M RON1418.76M RON9.3%
Dâmbovița16577.24M RON8.82M RON33019.97M RON6.4%
Dolj266478.77M RON82.38M RON1,057115.5M RON8.1%
Galați201408.94M RON32.35M RON1,24699.15M RON10.4%
Giurgiu9268.66M RON8.42M RON20711.92M RON8.5%
Gorj9651.27M RON8.82M RON22320.57M RON8.4%
Harghita9287.95M RON8.76M RON30730.23M RON7.9%
Hunedoara140200.24M RON17.47M RON54756.6M RON3.9%
Ialomița5541.23M RON2.8M RON13710.32M RON4%
Iași412739.05M RON94.69M RON1,633276.19M RON11.9%
Ilfov7411.13B RON128.34M RON2,453303.36M RON14.7%
Județ necunoscut11125.07M RON13.81M RON6435.97M RON6.3%
Maramureș170166.34M RON19.36M RON50350.03M RON4.4%
Mehedinți4438.53M RON7.25M RON13912.56M RON13.1%
Mureș244568.92M RON48.84M RON1,668180.58M RON12.8%
Neamț17693.84M RON13.69M RON40330.84M RON13.1%
Olt9767.61M RON12.31M RON23637.43M RON10%
Prahova426498.79M RON50.09M RON1,371104.05M RON9.5%
Sălaj10356.81M RON4.73M RON25813.46M RON6.2%
Satu Mare135114.05M RON14.93M RON48739.22M RON4.3%
Sibiu240583.76M RON48.63M RON1,388145.1M RON7.7%
Suceava197240.15M RON36.85M RON74274.45M RON8.1%
Teleorman9076.83M RON1.34M RON23815.68M RON10.7%
Timiș568967.71M RON96.03M RON2,055243.55M RON9.2%
Tulcea7260.07M RON7.14M RON29823.18M RON10.4%
CAEN sectors · Covasna · 41
CAEN sectors · Covasna · 2025 balance sheets · values in RON · unknown values are marked "—".
Territory / activityCompaniesSalesNet profitEmployeesEquityMedian margin
Fabricarea produselor lactate și a brânzeturilor · CAEN 1051111.42B RON110.21M RON806662.22M RON4.8%
Transport rutier de mărfuri · CAEN 4941331833.82M RON46.26M RON1,548193.93M RON4.3%
Tăierea și rindeluirea lemnului · CAEN 161118796.2M RON34.12M RON642558.92M RON0.3%
Comerț cu ridicata al cărnii și produselor din carne (Rev.2) / Comerț cu ridicata al cărnii și produselor din carne, pește și produse din pește, crustacee și moluște (Rev.3) · CAEN 46327557.51M RON8.55M RON61327.69M RON2.8%
Comerț alimentar nespecializat · CAEN 4711333523.26M RON9.86M RON1,16355.17M RON1.4%
Fabricarea hârtiei și cartonului ondulat și a ambalajelor din hârtie și carton · CAEN 17213311.85M RON-73.78M RON33831.03M RON2.1%
Comerț cu ridicata al fructelor și legumelor · CAEN 463131249.79M RON10.68M RON4722.39M RON1.1%
Construcții de clădiri · CAEN 410055239M RON10.57M RON64678.24M RON10.1%
Comerț cu ridicata al materialului lemnos și a materialelor de construcție și echipamentelor sanitare · CAEN 468313227.75M RON10.89M RON29375.92M RON4.5%
Comerț cu ridicata al metalelor și minereurilor metalice (Rev.2) / Comerț cu ridicata al pieselor și accesoriilor pentru autovehicule (Rev.3) · CAEN 46727225.74M RON1.48M RON21551.25M RON4.9%
Comerț cu ridicata cu cafea, ceai, cacao și condimente · CAEN 46376217.26M RON12.63M RON14946.3M RON5.8%
Fabricarea pâinii; fabricarea prăjiturilor și a produselor proaspete de patiserie · CAEN 107178216.51M RON19.72M RON94878.49M RON1.2%
Operațiuni de mecanică generală · CAEN 25534213.57M RON9.69M RON20867.19M RON27.4%
Comerț cu ridicata nespecializat · CAEN 469048195.8M RON10.79M RON17149.93M RON4.4%
Exploatarea forestieră · CAEN 0220105195.74M RON4.11M RON627107.75M RON2.1%
Fabricarea articolelor de îmbrăcăminte · CAEN 14214188.6M RON-13.84M RON1,564137.98M RON-8.4%
Activități de telecomunicații prin rețele cu cablu (Rev.2) / Activități de telecomunicații prin rețele cu cablu, prin rețele fără cablu și prin satelit (Rev.3) · CAEN 61106166.66M RON25.52M RON13861.58M RON7.4%
Comerț cu amănuntul al produselor farmaceutice · CAEN 477328161.94M RON7.87M RON16943.08M RON4.3%
Comerț cu ridicata al cerealelor, semințelor, furajelor și tutunului neprelucrat · CAEN 462114158.64M RON4.44M RON348.53M RON3.3%
Construcții de clădiri · CAEN 4120229156.51M RON15.13M RON72245.86M RON6.3%
Cultivarea legumelor și a pepenilor, a rădăcinoaselor și tuberculilor (Rev.2) / Cultivarea legumelor și a pepenilor, a rădăcinoaselor și tuberculiferelor (Rev.3) · CAEN 011339149.5M RON12.57M RON227148.78M RON4.1%
Hoteluri și alte facilități de cazare similare · CAEN 551029146.5M RON6.08M RON672197.84M RON0.5%
Lucrări de construcții a drumurilor și autostrăzilor · CAEN 421113138.71M RON15.88M RON311137.16M RON9.2%
Intermedieri în comerțul cu produse diverse · CAEN 461974137.33M RON7.58M RON22057.83M RON7.3%
Prelucrarea și conservarea cărnii de pasăre · CAEN 10122122.23M RON9.86M RON26646.11M RON8.1%
Tăierea și rindeluirea lemnului · CAEN 161061121.39M RON3.55M RON40749.21M RON1.7%
Comerț cu amănuntul al articolelor de fierărie, al articolelor din sticlă și a celor pentru vopsit, în magazine specializate (Rev.2) / Comerț cu amănuntul al articolelor de fierărie, al materialelor de construcții, al articolelor din sticlă și a celor pentru vopsit (Rev.3) · CAEN 475224104.6M RON6.69M RON11925.84M RON5.3%
Fabricarea articolelor din material plastic pentru construcții (Rev.2) / Fabricarea de uși și ferestre din material plastic (Rev.3) · CAEN 2223893.89M RON3M RON21355.3M RON0.3%
Fabricarea ambalajelor din lemn · CAEN 1624592.15M RON221.85K RON11012.26M RON-0.1%
Lucrări de instalații electrice · CAEN 43215690.79M RON10.65M RON23929.73M RON14.1%
Fabricarea articolelor de ambalaj din material plastic · CAEN 22221286.08M RON3.87M RON17746.5M RON0.8%
Comerț cu amănuntul nespecializat, cu vânzare predominantă de produse nealimentare · CAEN 47121384.43M RON3.51M RON9818.71M RON6.7%
Comerț cu ridicata nespecializat de produse alimentare, băuturi și tutun · CAEN 46391279.12M RON1.69M RON12419.66M RON1.4%
Colectarea deșeurilor nepericuloase · CAEN 3811870.21M RON5.83M RON35925.35M RON5.3%
Operațiuni de mecanică generală (Rev.2) / Fabricarea articolelor de feronerie (Rev.3) · CAEN 25621668.03M RON-2.59M RON25520.79M RON0.6%
Producția de băuturi răcoritoare nealcoolice; producția de ape minerale și alte ape îmbuteliate · CAEN 1107866.07M RON12.27M RON12114.54M RON1.5%
Captarea, tratarea și distribuția apei · CAEN 3600465.25M RON5.79M RON30236.76M RON9%
Comerț cu ridicata al combustibililor solizi, lichizi și gazoși și al produselor derivate · CAEN 4681263.51M RON742.88K RON32.74M RON4.5%
Fabricarea produselor din beton pentru construcții · CAEN 2361761.15M RON8.23M RON6052.75M RON9.8%
Extracția pietrișului și nisipului; extracția argilei și caolinului · CAEN 08121059.86M RON3.77M RON10026.15M RON7.8%
Local units · Covasna · 13
Local units · Covasna · 2025 balance sheets · values in RON · unknown values are marked "—".
Territory / activityCompaniesSalesNet profitEmployeesEquityMedian margin
Sfântu Gheorghe2430.32M RON2.78M RON1017.75M RON9.4%
Covasna4684.93K RON61.59K RON49.87K RON9.2%
Întorsura Buzăului2890.88K RON-243.97K RON548.53K RON-25.6%
Sita Buzăului2253.66K RON2K RON111.62K RON5.4%
Târgu Secuiesc2471.22K RON11.62K RON683.42K RON-1.3%
Belin13.46M RON661.81K RON15662.41K RON19.1%
Bodoc2418.12K RON-43.4K RON3-10.03K RON-13.2%
Brețcu195.55K RON7.52K RON121.81K RON7.9%
Chichiș2498.54K RON245.88K RON2246.36K RON45.5%
Ghidfalău14.8K RON5.86K RON0-29.25K RON122.1%
Lemnia283.67K RON1.52K RON2-125 RON10%
Malnaș1156.68K RON9.28K RON1-36.61K RON5.9%
Vârghiș12.6K RON309 RON0509 RON11.9%
SICAP tenders · values by territory

National series independent of CAEN: initiation notices published in 2025, by the authority's current office. Values are estimates, not payments.

Notices and estimated values, 2025
Territory / activityNoticesValue (RON)
Brașov8345.85B RON
Ialomița1801.07B RON
Iași1,08614.34B RON
Tulcea1771.17B RON
Mehedinți187918.76M RON
Vâlcea3842.27B RON
Mureș7408.41B RON
București6,659146.69B RON
Bacău4292.57B RON
Maramureș3712.83B RON
Botoșani3211.32B RON
Brăila3581.49B RON
Galați5775.68B RON
Dâmbovița3673.11B RON
Caraș-Severin2411.42B RON
Hunedoara4822.3B RON
Prahova5524.43B RON
Călărași174765.83M RON
Ilfov5536.78B RON
Constanța7577.24B RON
Bihor6584.49B RON
Sibiu9085.72B RON
Timiș9158.62B RON
Olt3041.2B RON
Cluj1,48415.53B RON
Vaslui3661.65B RON
Giurgiu1711.94B RON
Neamț3461.76B RON
Gorj6013.25B RON
Sălaj2651.1B RON
Alba3591.58B RON
Suceava5673.91B RON
Argeș5322.2B RON
Dolj66113.33B RON
Bistrița-Năsăud2721.71B RON
Teleorman2291.58B RON
Arad3863.25B RON
Buzău2781.02B RON
Vrancea2773.31B RON
Covasna2551.01B RON
Harghita3332.68B RON
Satu Mare2912.55B RON
Județ necunoscut2221.89M RON
UAT Ilieni136.03K RON
UAT Ozun48.38M RON
UAT Zăbala21.18M RON
UAT Sfântu Gheorghe118645.91M RON
UAT Bățani313.82M RON
UAT Târgu Secuiesc2229.05M RON
UAT Bixad12.97M RON
UAT Turia212.73M RON
UAT Ghelința25.77M RON
UAT Estelnic1375K RON
UAT Brăduț152.5K RON
UAT Ojdula34.47M RON
UAT Bodoc115.68M RON
UAT Aita Mare1996.63K RON
UAT Chichiș11.81M RON
UAT Mereni17.85M RON
UAT Reci314.57M RON
UAT Zagon719.13M RON
UAT Cernat113.64M RON
UAT Brateș14.5M RON
UAT Sita Buzăului38.48M RON
UAT Vârghiș19.16M RON
UAT Lemnia19.43M RON
UAT Dobârlău44.63M RON

Cite the report

Computed on 9/18/2026, 2:44:30 PM · version 20260918114430147. Annual data may be revised when new balance sheets arrive.

DemoANAF.ro. Romania business report 2025 — Covasna, CAEN 4322. Version 20260918114430147, computed on 2026-09-18T11:44:30.147Z. https://demoanaf.ro/en/raport-afaceri-romania-2025?judet=Covasna&caen=4322#date-raport Data: https://demoanaf.ro/rapoarte/afaceri-romania-2025/date.csv?rev=20260918114430147

CSV · this versionCSV field definitionsMethodology and sources

/07Registrations

In which months do new companies appear?

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.

Pace of registrations

Earliest available registration for each CUI · coverage not confirmed

Solid line: 2025

See the monthly data
Month2025
Jan6,313
Feb8,206
Mar8,589
Apr7,449
May8,145
Jun7,682
Jul10,734
Aug7,697
Sep9,208
Oct9,472
Nov9,682
Dec7,334

Coverage not confirmed: differences between series may reflect missing data. Months without observations do not mean zero.

/08Procurement

Companies and public procurement

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.

Contracts recorded in SEAP

A contract's lots and suppliers are not counted as separate contracts

Solid line: 2025

See the monthly data
Month2025
Jan10,684
Feb9,665
Mar11,690
Apr12,765
May11,213
Jun9,725
Jul9,714
Aug9,094
Sep9,436
Oct12,761
Nov12,032
Dec9,769

Period coverage is not confirmed. We count contracts, not payments; awarded values are not actual spending.

/09Methodology

What we measure and what stays unknown

Every percentage must have a clear population, a period and a source.

Balance sheets and coverage

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.

Year-on-year comparisons

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.

CAEN classification

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.

Missing values and rates

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.

The map: capital, employees and tenders

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.

Currencies and exchange rates

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.

Updates

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