In brief

  • The autonomous public undertaking „Rasirom”, a state-owned company under the authority of the Romanian Intelligence Service, has an approved budget for 2026: 696.1 million lei in revenue and 631.8 million in expenditure.
  • Out of the net profit of 52.6 million lei, 29.2 million goes to the state budget as dividends, while 5.8 million is set aside for employee profit sharing.
  • The undertaking has 479 employees and average monthly earnings of 17,313 lei per person, and 99.8 million lei is earmarked for investment.
Act: Government Decision no. 634/2026
Published: Official Gazette of Romania (Monitorul Oficial) no. 695 of 21 August 2026
Adopted: 14 August 2026

A state-owned company that is rarely talked about, because it works under the authority of the intelligence service, is publishing its figures: almost 700 million lei in revenue and average monthly earnings of more than 17,000 lei. Government Decision no. 634 of 14 August 2026, published in Official Gazette of Romania no. 695 of 21 August 2026, approves the revenue and expenditure budget for 2026 of the autonomous public undertaking „Rasirom”, which operates under the authority of the Romanian Intelligence Service. Publishing the budgets of state-owned companies is mandatory, just as it was when the state decided on the liquidation of another company in its portfolio.

The act has a single article: it approves the budget set out in the annex, which forms an integral part of the decision. The legal basis is Law no. 43/2026 on the state budget for 2026 and Article 4(1)(a) of Government Ordinance no. 26/2013 on strengthening financial discipline at state-owned economic operators.

All the amounts in the annex are expressed in thousands of lei. They are projections for the current year, not figures actually achieved.

What it changes in practice

The first effect is that the ceilings are fixed. Total projected revenue is 696,089 thousand lei, of which 696,029 thousand lei is operating revenue and 60 thousand lei financial revenue. Total expenditure is 631,800 thousand lei, of which 625,626 thousand lei is operating expenditure and 6,173 thousand lei financial expenditure.

The second effect is the planned result. The difference between revenue and expenditure gives a gross result of 64,289 thousand lei. After current profit tax of 11,682 thousand lei, a net profit of 52,607 thousand lei remains.

The third effect concerns the way the profit is shared out. Dividends of 29,226 thousand lei go to the state budget, which is more than half the net profit, while 23,381 thousand lei remain undistributed. Separately, 5,845 thousand lei is provided for employee profit sharing, within the legal ceiling of 10 per cent.

The fourth effect concerns staff. The undertaking forecasts 479 employees at the end of the year, the same figure as the annual average. Staff costs come to 110,604 thousand lei, of which 106,147 thousand lei are wage-related, and average monthly earnings per employee are 17,313 lei, recalculated in accordance with the annual state budget law.

The fifth effect concerns investment. The sources of investment financing and the investment expenditure are equal, 99,760 thousand lei each, and no amount at all is entered under budget allocations. In other words, the undertaking finances its investments from its own resources.

The sixth effect concerns the efficiency indicators. Total expenditure per 1,000 lei of total revenue is 908 lei, and labour productivity per average total headcount is 1,453 thousand lei per person. Overdue payments are zero, and overdue receivables 481 thousand lei.

What has changed compared with the previous situation

The budget of an autonomous public undertaking is approved every year by government decision, and this decision does not amend an earlier act, it approves the budget for 2026. The annex is the new reference document for the undertaking’s expenditure this year.

The second point concerns the structure of the expenditure. The largest share is taken by goods and services, 474,642 thousand lei, more than three quarters of operating expenditure, which shows an activity built on procurement and works, not only on in-house labour.

The third point is the ratio between profit and dividends. The state takes more than half the net profit, and the remainder stays in the company as undistributed profit, without being expressly assigned a purpose in the table.

What does not change is the legal status of the undertaking. It remains under the authority of the Romanian Intelligence Service, and the decision does not touch its organisation or its object of activity.

Advantages and disadvantages

What it improves

  • It makes public the figures of a state-owned company that operates under the authority of an intelligence service, including average pay and investment.
  • It sets clear expenditure ceilings that can later be checked against the actual outturn.
  • It shows that investment of almost 100 million lei is covered from own resources, with no allocations from the budget.
  • It expressly provides for the dividends due to the state budget, so the company’s contribution to the budget does not depend on a later decision.
  • It includes efficiency indicators that are comparable from one year to the next, such as expenditure per 1,000 lei of revenue and productivity per employee.

What remains a problem

  • The annex does not set out what the 474.6 million lei of expenditure on goods and services covers, the largest single item in the budget.
  • No explanatory memorandum was published together with the decision to account for the increases or decreases compared with the previous year.
  • The 23.4 million lei of undistributed profit has no purpose specified in the table.
  • The budget is published in August, so most of the year it covers has already gone by.
  • The table contains no column with the previous year’s results, so the comparison cannot be made from this document alone.

Practical advice

  1. If you follow public money, remember that all the amounts in the annex are in thousands of lei. 696,089 means 696.1 million lei, not 696 thousand.
  2. For comparisons between years, look for the budget approval decisions from previous years. This document contains no column with the results achieved.
  3. If you work with state-owned companies, check the overdue payments line. Here it is zero, which indicates that no arrears have been budgeted for.
  4. Do not confuse the gross result with the net profit. The difference of 11,682 thousand lei is the current profit tax.
  5. For the exact figures, open the official PDF edition attached to the article. The annex is a table with more than 50 rows of indicators.

Frequently asked questions

What is the autonomous public undertaking „Rasirom”?
It is a state-owned company, organised as an autonomous public undertaking, which operates under the authority of the Romanian Intelligence Service. The decision approves its revenue and expenditure budget for 2026.
What are the main figures?
Total revenue of 696,089 thousand lei, total expenditure of 631,800 thousand lei, a gross result of 64,289 thousand lei and a net profit of 52,607 thousand lei.
How much does the state take from the profit?
29,226 thousand lei, more than half the net profit, in the form of dividends due to the state budget.
How many employees does it have and how much do they earn?
479 employees, both at the end of the year and as an average headcount. Average monthly earnings per employee are 17,313 lei, determined on the basis of wage-related expenditure and recalculated in accordance with the annual state budget law.
Where does the money for investment come from?
From own resources. The sources of investment financing amount to 99,760 thousand lei, equal to the investment expenditure, and no amount at all is entered under budget allocations.
Why is the budget approved by government decision?
Because the undertaking is an economic operator wholly owned by the state, and Article 4(1)(a) of Government Ordinance no. 26/2013 provides for the budget to be approved by a decision of the Government.

Original text of the legal act

The text below is reproduced in Romanian, the official form of publication.

The full text, as published in the Official Gazette of Romania

Official Gazette of Romania no. 695 of 21 August 2026 16 pages PDF, 177 KB the act starts on page 2

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This article is for informational purposes only and does not constitute legal advice. For specific situations, consult a licensed attorney or tax advisor.