ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(81)813
Vol.1981/0228

Disclaimer
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COMMISSION OFTHEEUROPEAN COMMUNITIES
COM(81)813 final
Brussels/8January1982
)
THIRDCOMMISSION REPORTTOTHECOUNCIL
ONTHETRANSPOSED ANNUALACCOUNTS OF
THERAILWAYUNDERTAKINGS
1979
/cfr'A.■\■>
C0M(81)813final few

-1-
SYNOPTIC REPORTONACCOUNTS
INTRODUCTION
1.Article5ofRegulation (EEC)No2830/77providesthatRailwayundertakings
shallwithin12monthsoftheendoftheaccounting yearinquestiontrans­
mittotheCommissiontheirtransposed annualaccounts.Sixmonthsafter
theirreceipt"theCommissionshallsubmitasynopsisof/thetransposed
accounts_/totheCouncil".
2.TheCommission'sservicesprepared aworkingdocumentfordiscussionwithin
theAdvisoryCommitteeestablished toassisttheCommission intheimple­
mentationofthisRegulation .
TheCommitteeischargedtogiveitsopinioninanyquestionsrelatingto
theproblemsandsolutionconnectedwithimprovingthecomparability of
thetransposed annualaccountsofrailwayundertakings andmakingprogress
towardsgreaterharmonization oftheiraccounting systems.
AmeetingwasheldonOctober6,1981.
Thesynopticreportonthe1979Transposed Accountstakesaccount
oftheCommittee'sopinions.
3.Thereportisin2parts:
-reproduction oftheTransposed Accounts +Notes
-commentary onprogresstocomparability andfuturedevelopment thereof.

-2-
PART I
\
Pages 3-82 contain theaccounts andexplanatory notes ofrailway undertakings
transposed inaccordance with theprovisions ofRegulation 2830 /77.

-3-
SOCIETENATIONALE DESCHEMINS DEFERBELGES(SNCB)
NATIONALE MAATSCHAPPIJ DERBELGISCHE SPOORWEGEN (NMBS)

BALANCE SHEET TABEL 1>
Undertaking :SNCB/NNBS at31.12.1979 dioBFR
ASSETS
LONG-TERM ASSETS
FixedAssets(Net)
10Landandfixedinstallations
11Transportstockandequipment
12Otherstockandequipment
13Fixedassetsunderconstruction
Otherfixedassets
KShareholdings inotherundertakings
15Long-ternloans
16Costoffloatingloansandloanredemption
premiums
17Miscellaneous fixedassets
Sub-total
CURRENT ASSETS
Stocks
20-21(Instoreorbeingmanufactured )
»
Realizable assets
30Debtors
41Loansrepayablewithin
oneyear
42Billsreceivable
45Securities
Bankbalances andcash
43-46-47-48Chequesinhand,postalchequeaccounts/
bankaccounts,cashinhand
Sub-total
Results
06.1Lossesforpreviousfinancialyears
07.1Lossforthefinancialyear
Assets:Total1979
39565
15507
1299
12869
323
80
371
13425
11*67
790
481569240
14199
83439
7695
12257
1409
21361
4815
1096151978
36551
14790
2195
9178
322
65
429
13411
76941
6967
9786
713
1071
18537
5790
101264LIABILITIES
Capitalandreserves
00Capital
01Reserves
02Contribution toinvestment costs
03Provisions
04Fundsforstaff
05Long-ternfinancialdebts
-debentures
-Stateloans
-otherfinancial debts
Sub-total
Currentliabilities
31Creditors
40Financialdebtsoflessthanone-year
tera
440iUspayable
Sub-total
Results
06.0Profitsforpreviousfinancialyears
07.0Profitforthefinancialyear
Liabilities :Total1979
11000
1910
33892
3595
4513
16706
1489
444
27912910
33757
1175
855
42000
90697
18639
279
1096151978
11000
1787
28731
1051
778
31237
3775
4692
83#51
12215
2715
2312
17242
975
101268
2::ss::::ssa
I

PROFITANDLOSSACCOUNTTABEL1b
I.GENERALOPERATION
Undertaking :SNCB/NN8S year
EXPENSES1979 1978REVENUE 197» 1978
60.Staffcosts
61.Materialsuppliedandservicesperformed
bythirdparties
62.Taxesanddues
63.Allocations fordepreciation
64.Allocations toprovisionaccounts
65.Financialcharges51651
19567.
51
8609
407147131
19039
20
8526
387670.Trafficrevenue
0.Passenger andluggagetraffic
a)byrail
b)byroad
c)byothermeansoftransport
1.Goodstraffic
a)byrail
i)fulltrainsandwagonloads
-nationaltraffic
-internatfonaltraffic
ii)partloadsandparcels
-nationaltraffic
-international traffic
b)byroad
c)othermeansoftransport
2.Postaltraffic
Sub-total
71.Financial revenue
72.Otherrevenue
73.Contraofcostsbookedtoother
accounts
74.Compensations andaidsreceivedunder
0.Regulation (EEC)N°1191/69
1.Regulation (EEC)N°1192/69
2.Regulation (EEC)N°1107/70,Article3
3.Othercompensations andaids
Sub-total11307
3382
7975
2738
2285
4537989
7988
1
140*5
14045
460
22494
349
7940
10128
19352
13493
10114
429597875
2
3161
A240
2180
451
446
20355
301
6275
11262
17547
12735
10013
40295
Totalexpenses 83949 78592 Totalrevenue 83870 78488
91.0Operatingprofitforthefinancialyear- -91.1Operatinglossforthefinancialyear79 104
·V\
XI.PROFITANDLOSSSUMMARY
V?
1
91.1Operat\nglossforthefinancialyear
91.3.Exceptional losses
91.4Corporation tax
!79 104
4591.0Operatingprofitforthefinancialyear
91.2Exceptional profits
91.5Balancingsubsidy
-Regulation (EEC)N°1107/70,Article4
-Other358 1124
91.6Profitforthefinancialyear 279 975 91.7Lossforthefinancialyear
_
U1

-6-
SNCB/NMBS:FINANCIAL YEAR1979
Explanatory notes
FiguresaregiveninmillionsofBFR. i
BALANCE SHEET
Assets
Accounts 10-13-FixedAssets
ThefixedassetsshownintheBalanceSheetarethoseacquiredsince
1.9.1926,whentheSNCBwasfounded;theyarerecordedattheirpurchasevalue
andtheyincludeboththosefinancedbytherailwaycompanyandthosefinanced
bytheState;thelatteraresetoffbytheAccount02-Contribution to
Investment Cost.
Thereplacement isensuredthroughtheReplacement Fund(Account03).
Theallocationiscalculatedtocoverindustrialdepreciation oftracks,equip­
ments,tools,buildings andstructures .
Itisforeseentoreplacethissystembyaclassicmethodofdepreciation .
Account14-Shareholdings inOtherCompanies
Shareholdings inaffiliated companies 65
Shareholdings inothercompanies 256
Otherstocksandshares 2
Account15-Long-Term Loans
Theseareallclaimsvis-a-viscompaniesinwhichSNCBhasashare­
holding.
Account17-Miscellaneous FixedAssets323
(a)Railwayoperatingconcession
(b)Wardamage
(c)LoantoFondsdesOeuvresSociales11000
2410
15
13425

-7-
Accounts 20and21-Stocks
Theamountsenteredintheaccountsareaverageweightedprices ,
Rawmaterials,consumables -supplies 7069
Workinprogress ' 578
Goods 49
7696
Account30-Debtors
Claimswhosetermismorethanoneyeararising
fromgoodsdelivered andservicesrendered 8
Claimswhosetermisnomorethanoneyear
(a)Arisingfromgoodsdeliveredorservices
rendered 7688
(b)Otherclaims 1216
Adjustments 2554
11466
Account45-Securities
Thisaccountalsoincludes FB105miowhichisaninvestment in
theFOS.
Account43-46-47-48-BankBalanceandCash
BelongingtotheFOS:FB83mio.
Liabilities
Account01-Reserves
ThisistheamountcreditedtotheLoanRedemption Fundasat
31stDecember1979.Asumisenteredintheaccountseachyeartoreplenish
thisFund.
Account03-Provisions
(a)FixedAssetsReplacement Fund 413
(b)Provisionforexchangelossesrelatingto
foreigncurrencyloans(Eurofima) 447
(c)Otherprovisions 315
1175

-8-
Account04-FundsforStaff
ThisisaFundtopayallowances duetostaffinconnection with
accidents atwork.
Account05-Long-TermFinancial Debts
Theotherfinancial debtsbreakdownasfollows:
(a)Non-convertible subsidiary loans 358
(b)Non-convertible debenture loans 25
Ce)Créditestablishments 4120
(d)Paymentinadvance 5
(e)Guarantees toconnectedfirms 5
4513
Thedebtsvis-a-viscompaniesinwhichtheSNCBhasashareholding
(Eurofima)amounttoBFR3264mio.
Account31-Creditors
Debtswhosetermismorethanoneyear 1
arisinggromthepurchaseofgoodsand
services
Debtswhosetermisnomorethanoneyear
(a)Créditestablishment 2150
(b)Variousdebtsarisingfromthepurchase 4419
ofgoodsandservices
(c)Debtsandprovisionsfortax,social 3462
chargesandwagepayments
(d)Advancesreceived 1630
(e)Otherloansanddepositsreceived 36
(f)Otherdebts 21
Adjustments 4986
16706

-9-
ProfitandLossAccount
EXPENSES
Account60-StaffCosts
Renumerations
Pensions
SocialAssurance
OtherSocialCharges31411
14831
4960
449
51651
Account61-MaterialSuppliedandServicesPerformed byThirdParties
Account62-TaxesandDues
Thetotalonthisaccountisthesumof:
-VAToninvestment goods
-VATonfreesalestothepersonnelofthebuffets
-Taxonassetsrentedtothirdparties
-Roadtaxonvehicles
-Registration fees,stampdutyandcourtregistrydues
TheVATis6%fortransportofpassengers and16%ongoodstransport.
Account64-Allocations toProvision Accounts
Replacementallocation 8320
Insurance Fundallocation 290
Provisionforexchangelossesonlong-term-1Goods,rawmaterials,consumables and
supplies
Miscellaneous goodsandservices8960
10607
19567
debts
8609

-10-
Account65-Financial Charges
Chargesondebtswhosetermismorethanoneyear 3687
Chargesondebtswhosetermisnomorethanoneyear 70
Miscellaneous financialcharges 307
Réductions ofcréances 8
4072
REVENUE
Account70-TrafficRevenue
Thesefiguresareextractedfromtheaccounts.Inthecaseofreceipts
frompassengertraffic,somebreakdowns basedonstatistics havebeenmade
betweenrailtrafficandroadtraffic.
Account71-Financial Revenue
Revenuefromfinancial assets 112
Revenuefromotherclaimsandbankbalances andcash 39
Miscellaneous 198
349
Account72-OtherRevenue
Servicesandsupplies 5922
Miscellaneous revenue 1654
Revenuerelatingtostaff 364
7940
Account73-ContraofCostsBookedtoOtherAccounts
Internalworkrelatingtotheimprovement offixedassets
(a)Newfixedassets 1725
(b)Renewalstobewrittendown -41
NetamountchargedtotheReplacement Fund- 8235
NetamountchargedtotheInsurance Fund 209
10128

-11-
Account74-Compensation andAidReceived
74.0.Regulation (EEC)N°1191/69
Obligation tooperate
Tariffobligation -passengers 15582
-goods 261744
15608
17352
74.1.Regulation (EEC)N°1192/69
Retirement paymentsandpensions 12604
Socialcharges,whereof:
(a)Accidentsatwork 81
(b)Familyallowances 24
Measuresbenefitingstaffinrecognition of 33
servicesrenderedtotheircountry
Crossingfacilities 289
Compensation forfinancialchargesinrespectof:
(a)Wardamage 16
(b)Lackofnormalization inthepast 183
(c)Loansraisedtomeetdelaysinrenewals 263
13493
74.2.Regulation (EEC)N°1107/70(Artide3)
Compensation for:
(a)Infrastructure charges
(b)Financialchargesrelatingto:
(i)Financingtheextensionofthenetwork
(ii)Financingaccumulated deficitsand
overduerenewals
Taxfromwhichthecompanyisexempted
tobededucted6797
2228
1108
10133
-19
10114

-12-
ThesumofBFR2000mioththeHealthInsuranceOffice(FOS)isoptional
compensation notincludedintheaccounts.
Account91-2-Exceptional Profits
Theexceptional profitsinclude:
-acreditrelatingto1978ofBFR75miogivenbytheState
-BFR283miorepaidVAToninvestments forcreationofemployment.
NoteabouttheHealthInsuranceoffice
InfavourofthepersonneltheSNCBhascreatedaHealthInsurance
OfficeCFondsdesOeuvresSociales)-FOS-consisting of:
-laCaissedeSoinsdeSanté
-laCaissedesIndemnités
-laCaissedelaSolidarité Sociale.
From1979ontheaccountsofthisFundareincorporated intheaccountsof
theSNCB.Whereastheincomeandexpenditures oftheFOSarenotrecluded
intheprofitandlossaccountoftheCompany.
TheresultsoftheFOSareintegrated asfollows:
-CaissedeSoinsdeSante:thisfundrepresent anormaldebtwhichthe
Statemeetseveryyear,itsdeficitisbroughtintoaccount30.
-CaissedesIndemnites :isalwaysinbalance,theincomecorrespond to
theexpenditures .
-CaissedelaSolidarite Sociale:disposesofacredit,whichisconsidered
asadebttothepersonnel andwhichisshowninaccount31.Thesumof
compensation not

-13-
DANSKESTATSBANER (DSB)

BALANCESHEETTABEL2a
31.12.1979 HinUndertaking : at "*0
ASSETS 1979 1978 LIABILITIES1979 1978
LONG-TERM ASSETS
FixedAssets(Net) 7785 Capitalandreserves
10Landandfixedinstallations4248 3969 00Capital 8039 7421
11Transportstockandequipment3266 2969 01Reserves - 8039 -
12Otherstockandequipment271 240 02Contribution toinvestment costs - -
13Fixedassetsunderconstruction 0 0 03Provisions - -
Otherfixedassets
14Shareholdings inotherundertakings
15Long-tern loans
16Costoffloatingloansandloanredemption
premiums1010
1004Fundsforstaff
05Long-termfinancialdebts
-debentures
-Stateloans
-other.financial debts--
-
17Miscellaneous fixedassets- -
Sub-total 77Ϋ5 7188 Sub-total 8039 7421
CURRENT ASSETS
Stocks ,
20-21(Instoreorbeingnanufactured) «15 342
Realizable assets 314
30Debtors 314 408
41Loansrepayablewithin
oneyear– -
42Dillsreceivable 0 0Currentliabilities
45Securities31Creditors 491 447
Bankbalances andcash
43-46-47-48Chequesinhand,postalchequeaccounts,
bankaccounts,cashinhand35 3040Financialdebtsoflessthanone-year
ter«
44BiIIspayable29 100
Sub-total 764 780 Sub-total 520 547
Results- Results -
06.1Lossesforpreviousfinancia :years- - 06.0Profitsforpreviousfinancialyears -- -
07.1Lossforthefinancialyear- - 07.0Profitforthefinancialyear - -
Assets:Total 8556 7«68 Liabilities :Total β559 7968

PROFITANDLOSSACCOUNTTABEL2b
I.GENERALOPERATION
Undertaking :0SB HioDw, Year:
EXPENSES1979 1978REVENUE 1979 1978
60.Staffcosts2228 155270.Trafficrevenue
61.Materialsuppliedandservicesperformed 993 606 0.Passenger andluggagetraffic 1373
bythirdparties a)byrail 984 699
62.Taxesandduesb)byroad 153 105
c)byothermeansoftransport 236 144
63.Allocations fordepreciation187 1281.Goodstraffic 904
a)byrail 664
64.Allocations toprovision accounts- - i)fulltrainsandwagonloads 422
-nationaltraffic 199 156
65.Financialcharges 335 239 -international traffic 223 143
ii)partloadsandparcels 242
-nationaltraffic 215 155
-international traffic 27 17
b)byroad 5 5
c)otheraeansoftransport 235 144
2.Postaltraffic65 49
Sub-total2342 1617
71.Financial revenue6 6
72.Otherrevenue386 280
73.Contraofcostsbookedtoother
accounts - -
74.Compensations andaidsreceivedunder
0.Regulation (EEC)N°1191/69 782 437
1.Regulation (EEC)N°1192/69 12 31
2.Regulation (EEC)N°1107/70,Article3 215 154
3.Othercompensations andaids - -
Sub-total1009 622
Totalexpenses3743 2525 Totalrevenue3743 2525
91.0Operatingprofitforthefinancialyear - - 91.1Operatinglossforthefinancialyear - -
II.PROFITANDLOSSSUMMARY
91.1Operatinglossforthefinancialyear_ 91.0Operatingprofitforthefinancialyear!
91.3.Exceptionallosses- - 91.2Exceptional profits - -
91.4Corporation tax- - 91.5Balancingsubsidy _
-Regulation (EEC)N°1107/70,Article4
-Other - -
91.6Profitforthefinancialyear -■ - 91.7Loisforthefinancial year - - ■

-16-
DSB-Financialyear1979
Explanatory Notes
FiguresaregiveninmillionsofDKR.
I.BalanceSheet
Accounts10-13-Assets
Inaccordancewiththenationalstandardaccountingprocedurethe
costsoffixedassetsunderconstruction areincludedinAccounts10-12.
Accounts
10 11 12Total
Primovalue 3969 2969 240 7178
+Investments 483 452 49 984
-Sales 147 33 10 190
-Depreciation 57 122 8187
Ultimovalue 4248 3266 271 7785
Accounts20and21-Stocks
Stockvaluationisbasedoncurrentprices.
Liabilities
Thecapitalisbuiltupthroughannualstatecontributions to
investments .
II.ProfitandLossAccount
Account60-StaffCosts
ThisaccountincludesDSB'scontributions topensioncostsforall
staffinemployment.
ThepensionspaidtoretiredDSBstaffarecoveredbytheStatebudget.
Staffexpenditurerelatingtofixedassetsisenteredundertherele­
vantassetsaccounts.

-17-
Account62
TheingoingVATonthenationalpassengertrafficisincludedin
Account61.
TheVATonthenationalfreighttrafficiscompulsory buttheincome
ongoods-rAccount70.1.-excludesthecollected VATwhichisbooked
separately .Investmentinassetsforthepassengertrafficshallbearthe
ingoingVAT(includedinAccount10-12)whereasforassetsinthegoods
sectortheVATcanberepaid.
Account63-Allocations forDepreciation
Depreciation isonastraight-line basis,withvariousratesof
depreciation (seeaccount10-13).
Account65-Financial Charges
Tangibleassets,whicharepartofthecapitalinvestedinDSBbythe
State,bearinterestat4.5.%.
DSB'scurrentaccountwiththeFinanceMinistry (Account40)bears
interestat3.5%.
Account70-TrafficRevenue
MuchofDSB'strafficrevenuecannotbeapportioned betweenthevarious
modesoftransport.Thereisnoseparatepricingforferrycrossingswhichare
partofapassengerorfreighttransport,forroadhaulageorforsomebus
services.
Thecarriageofprivatecarsandgoodsvehicles,andferrycrossings
wherepassengers arenottravelling bytrainareshowninaccounts70.0c)
and70.1c).Therevenueshowninaccounts70.0b)and70.1b)isfromthe
carriageofpassengers andsmallparcelsbyDSBbuses.

-18-
Account74-Compensation andAid
Regulation (EEC)N°1191/69
-passengertransport 623
-freightandmail 159
Regulation (EEC)N°1192/69-ClassXI- 12
Allowancestostaff
Régulation (EEC)N°1107/70-Infrastructure Cost215
Thisamountiscompensation forinterestchargesandamortization onloans
offixedinstallations whichtheothermodesdonotbear.

-19-
DEUTSCHE BUNDESBAHN (DB)

BALANCE SHEETTABEL3a
ASSETS1979 1978 LIABILITIES1979 1978
LONG-TERM ASSETS
FixedAssets(Net) 48851 Capitalandreserves
10Landandfixedinstallations
11Transportstockandequipment29964
1358828735
1347100Capital
01Reserves19413
44022381519791
2717
12Otherstockandequipment
13Fixedassetsunderconstruction2007
32921904
320802Contribution toinvestment costs
03Provisions5546
2555079
624
Otherfixedassets
14Shareholdings inotherundertakings
15Long-termloans
16Costoffloatingloansandloanredemption
premiums
17Miscellaneous fixedassets462
2008
1232593
458
2169
13704Fundsforstaff
05Long-termfinancialdebts
-debentures
-Stateloans
-otherfinancial debts13828
1720331031
13861
18239
Sub-total 51444 50082 Sub-total 60647 60311
CURRENT ASSETS
Stocks
20-21(Instoreorbeingmanufactured ) 1038 1000
Realizable assets
30Debtors
41Loansrepayablewithin
oneyear
42Billsreceivable
45Securities2286
91
02377
1896
211
0Currentliabilities
31Creditors 3181 3140
Bankbalances andcash
43-46-47-48Chequesinhand,postalchequeaccounts,
bankaccounts,cashinhand 1030 144440Financialdebtsoflessthanone-year
term
44Bilispayable248 317
Sub-total
Results
06.1Lossesforpreviousfinancialyears
07.1Lossforthefinancialyear4«11
35764445
•1874551
4524
4611Sub-total
Results
06.0Profitsforpreviousfinancialyears
07.0Profitforthefinancialyear-3429 3457
Assets:Total 64076 63768 Liabilities :Total 64076 63768
J

PROFITANOLOSSACCOUNTTABEL 3b
X.GENERALOPERATION
Undertaking :oa Wt Year1979
EXPENSES19/9 1978REVENUE 1979 1978
60.Staffcosts18770 1817770.Trafficrevenue
61.Materialsuppliedandservicesperformed 8954 8416 0.Passenger andluggagetraffic 4486
bythirdparties a)byrail 3876 3526
62.Taxesanddues 92 88 b)byroad 570 546
c)byothermeansoftransport 40 39
63.Allocations fordepreciation1820 17691.Goodstraffic 9331
a)byrail 8228
64.Allocations toprovisionaccounts i)fulltrainsandwagonloads6964
-nationaltraffic 4450 4052
65.Financialcharges2394 2464 -international traffic 2514 2089
ii)partloadsandparcels 1264
-nationaltraffic 1176 1091
-international traffic 88 104
b)byroad 1094 977
c)othermeansoftransport 9 9
2.Postaltraffic 358 367
Sub-total 14175 12800
71.Financial revenue 161 125
72.Otherrevenue 1549 1366
73.Contraofcostsbookedtoother
accounts 4468 4676
74.Compensations andaidsreceivedunder
0.Regulation (EEC)N°1191/69 3026 2978
1.Regulation (EEC)N°1192/69 3957 3565
2.Regulation (EEC)N°1107/70,Article3 82 105
3.Othercompensations andaids 1018 1087
Sub-total 8083 7735
Totalexpenses 32030 30914 Totalrevenue 28436 26702
91.0Operatingprofitforthefinancialyear - -91.1Operatinglossforthefinancialyear 3594 4212
II.PROFITANDLOSSSUMMARY
91.1Operatinglossforthefinancialyear 3594 421291.0Operatingprofitforthefinancialyear
91.3.Exceptional losses 21 423 91.2Exceptional profits 42 27
91.4Corporation tax 3 391.5Balancingsubsidy
-Regulation (EEC)N°1107/70,Article4
-Other - -
91.6Profitforthefinancialyear - - 91.7Lossforthefinancialyear 3576 4611

-22-
DB-Financial Year1979
Explanatory Notes
FiguresaregiveninmillionsofDM
I.BalanceSheet
Liabilities
Account00-Capital
Owncapital 19220
Contributions fromtheStatetocoverlosses
carriedover 1350
LessStateloanstoincreasethecapital
notwrittenoff -1157
19413
Account05-Long-TermFinancial Debts
Theotherfinancial debtsinclude:
(a)Long-termdebts 15468
(b)Debtsof1to4years 1733
(c)Partofotherliabilities 2
17203
Account05includessomeDM2484miobywayoffinancialdebtsin
respectofcompaniesinwhichDBhasashareholding .
DM3651mioarepayablein1980.

-23-
Accounts 10to12-Fixed Assets
Fixed assets areaccounted for atthe cost ofacquisition orproduction
anddepreciated onalinear basis over their useful lifetime (provision for
depreciation isshown intheliabilities side oftheBalance Sheet ,depreciation
isshown initem 63inthe Profit andLoss Account ).When anasset isdisoosed of
before theendofitsnormal lifetime the netbook value ofthis asset is
fully depreciated .
The items break down asfollows :
Description Gross ValueAccumulated
DepreciationNet Value
10.Land and 53508 23544 29964
Installations
11.Transport Stock 22648 9060 13588
and Equipment
12.Other Stock and
Equipment3784 1777 2007
Account 15-Long-Term Loans
Long term loans 1962
Loans arising from other assets 48
Less valuation adjustment onfixed assets - 2
2008
Account 15includes DM774mio inloans tocompanies inwhich DBhas
ashareholding .
Account 16-Cost ofFloating Loans andLoan Redemption Premiums
The sum ofDM123mio isthebond issue premium .
Account 20-21-Stocks
103 Fuel -new
-old and waste 18
Stocks tofixed assets -new 757
-old and waste 160121
917
1038

-24-
Account30-Debtors
Thisaccountincludes :
Advances
Claimsarisingfromtransportservices,
suppliesandotherservices
Partofotherassets34
Adjustments (assets,lessbondissuepremiums
Lessvaluationadjustments toothercurrentassets-1115
250
891
4
2286
Account31-Creditors
Thisaccountincludes :
Advances -
Transportservices,suppliesandotherservices
Adjustments (liabilities )88
3069
24
3181
Account40-Financial DebtsofLessthanOneYearTerm
ThesumofDM248mioistheremainderoftheliabilities .
Account41-LoansRepayableWithinOneYear
ThesumofDM91mioistheremainderoftheassets.
Accounts43,46to48-BankBalancesandCash
Represent DM1030mio.
Account06-1-LossesforPreviousFinancial Years
ThelossofDM4524mioin1977wassetoffagainstGovernment
contribution tocoverlossescarriedoverAccount00andagainstthe
reservesAccount01.
Inprinciple DBisobligedtoinsertitslossesinthebalancesheet
untilFederalgovernment hasdecidedoncoverage.Generallytheselossesare
beingcompensated twoyearslaterwithcapitalgrantstocoveraccumulated
lossesorwithreserves.ForthesetwoitemsDBreceivesannualpayments
abovetheline.

-25-
II.ProfitandLossAccount
Account60-StaffCosts
Thisaccountincludes :
Totalstaffexpenditure
Socialchargesexternaltothecompany
Pensionchargesexternaltothecompany18338
413
19
18770
Thetotalcanbebrokendownasfollows:
Remuneration ofstaffinemployment
Retirement andpensions
Socialcharges10985
5056
2729
18770
Thepensionsofworkersandsalariedstaffarepaidbyanindependent
fund,towhichtheDBpaysacontribution ,whilethoseforpermanentoffi­
cialsarepaidbytheundertakingitself.Asshowninaccount74.1.theDB
receives acompensation forexcesssocialchargesandexternalsuperannua­
tioncharges.
Account61-MaterialsSuppliedandServicesPerformed byThirdParties
Thisaccountincludes :
Currentoperatingexpenditure 3466
Lesstax(seeAccount62) -92
Expenditure onmaterialssuppliedandser­
vicesprovidedbythirdpartiesforthe
renewalandmaintenance offixedassets 5580
OfthisDM5580mio,onlyDM2237miofortheexpenditure onmain­
taininginstallations andequipmentremainsintheProfitandLossAccount.
TheotherDM3343mio-expenditure onmaterialsfortheconstruction of
fixedassets-isenteredinDB'sBalanceSheetinAccount73.
Account62-TaxesandDues
Varioustaxesinclude DM8.4miowhicharetaxesonbehalfof
personnel.8954

-26-
TheVATrateonrailactivitiesis13Aexceptonthesuburbantraffic
(until50km)whereitis6,5%.The13%rateisalsoinforceonmaterials
suppliedandservicesperformedbythirdparties.Theingoingandtheoutgoing
TVAarebookedseparately andonlytheamount,whichistobepaidisshown
inAccount62.
Account63-Allocations forDepreciation
Reference shouldalsobemadetoAccounts 10and12.
Thisaccountincludes :
Ordinarydepreciation offixedassets 2218
Depreciation ofobsoletefixedassets 265
Less:
(a)contributions toinvestment costsandsi­
milarcontributions fromthirdparties-233
(b)othercredititemsrelatingtomainte­
nanceandrenewal ~430
1820
Account65-Financial Charges
Interest,premiumsandsubsidies onbonds
Interestonloansandotheroutsideresources
forincreasingcapital2290
104
2394
Account71-Financial Revenue
Thisaccountincludes :
Revenuefromshares
Interest onloansandotherrevenue35
126
161
Account72-OtherRevenue
Thisaccountismadeupof:
Thebalanceofrevenuefromothertransport
services(vehiclehire,servicesperformed
forotherrailways,etc.) 361
1188 Otheroperational revenue
1549

-27-
Thistotalmaybebrokendownasfollows:
Revenuefromworkdonefor-andsuppliedto
thirdparties 514
Revenuefromotheractivities,includingrents 897
Miscellaneous 138
1549
Account73-ContraofCostsBookedtoOtherAccounts
Thisaccountmaybebrokendownasfollows:
Servicesforownaccount,fixedassetsandmaterials
instocks,enteredasoffsetstoexpenditure in
theProfitandLossAccounts 1125
Expenditure onmaterialsinrespectoffixed
assets(sseAccount61) 3343
4468
Account74-Compensation andAid
74.0Regulation (EEC)N°1191/69
Localrailpassengerservices 2916
Mainlinerailpassengerservices 74
(socialtariffs)
Maintenance ofservicesoncertainlines 4
SupporttariffsfortheSaar 32
3026
74.1Regulation (EEC)N°1192/69
Operationandmaintenance oflevelcrossings 415
Medicalaidfortuberculosis sufferers 3
Excesssocialchargesduetostructuralfactors2734
Additionalstaffsuperannuation 336
Additionaltrainingposts 37
Externalsuperannuation charges 413
Externalpensions 19
3957

-28-
74.2Regulation (EEC)N°1107/70(Article3)
Roadtransportforapprentices 82
74.3OtherCompensation andAid
Interestonloansandotheroutsidecapital
takenuptoincreaseowncapital 104
Interestinrespectofimprovement ofthe
capitalstructure 914
1018
TheFederalGovernment allocations tocoverlossescarriedover
(DM1349mio)fortherepaymentofloansandotheroutsideresources
forincreasingcapital(DM557mio)donotaffecttheresultsandare
entereddirectlyintheBalanceSheet.Thetaxonmineraloils(DM283mio)
refundedbytheStatehasbeendeductedfromtheexpenditure onfuelcontained
inAccount61.
Account91.2-Exceptional Profits
Thisaccountcontainstherevenuearisingfromtheadjustmentof
provisions andotherprofits(DM42mio).
Account91.3-Exceptional Losses
ThesumofDM21miomaybebrokendownasfollows:
Depreciation oflongtermloansandinvestments 2
Depreciation ofothercurrentassets 4
Exchangelossesandprovisions 1
Issuecosts 1
DB'sadditional paymentsobligations totheBVA 7
Additional paymentofturnovertax 6
21

-29-
SOCIETENATIONALE DESCHEMINS DEFERFRANÇAIS (SNCF)

BALANCE SHEETTABEL *
Undertaking :SNCF at51.12.1979 Rioff
ASSETS1»7» 1978 LIABILITIES1979 1978
LONG-TERM ASSETS
FixedAssets(Net)62348 Capitalandreserves
10Landandfixedinstallations 44210 44150 00Capital 14 14
11Transportstockandequipment 13767 1388401Reserves4375»43773 44705
12Otherstockandequipment 588 55302Contribution toinvestment costs
13Fixedassetsunderconstruction 3783 208203Provisions10 3
Otherfixedassets
14Shareholdings inotherundertakings
15Long-termloans
16Costoffloatingloansandloanredemption
premiums1889
348
4402691
1752
311
78»04Fundsforstaff
05Long-termfinancialdebts
-debentures
-Stateloans
-otherfinancial debts16598
1414
381621828
1554»
1427
2482
17Miscellaneous fixedassets 14 14
Sub-total 65039 63537 Sub-total 6561164179
CURRENTASSETS
Stocks
20-21(Instoreorbeingmanufactured ) 2270 2191
Realizable assets · 9874
30Debtors
41Loansrepayablewithin
oneyear
42Bilisreceivable
45Securities8761
90
315
7088699
92
126
589Currentliabilities
31Creditors 8875 8032
Bankbalances andcash
43-46-47-48Chequesinhand,postalchequeaccounts,
bankaccounts,cashinhand 691 43640Financialdebtsoflessthanone-year
term
44Billspayable6273
18376534
1755
Sub-total 12835 12133 Sub-total 16985 16321
Results
06.1Lossesforpreviousfinancialyears 48304830
3711Results
06.0Profitsforpreviousfinancialyears10«
07.1Lossforthefinancialyear - 111907.0Profitforthefinancialyear 10«-
Assets:Total 82704 80500 Liabilities :Total 8270480500
ESSS3S3SSSSICI
i
mo

PROFITANDLOSSACCOUNTTABEL4b
I.GENERALOPERATION
Undertaking :SNCF „ioff Year1970
EXPENSES 1979 1978 REVENUE 197» 1978
60.Staffcosts
61.Naterialsuppliedandservicesperformed
bythirdparties
62.Taxesanddues
63.Allocations fordepreciation
64.Allocations toprovisionaccounts
65.Financialcharges23306
10964
488
3355
4
228820887
9517
485
3416
16
189370.Trafficrevenue
0.Passenger andluggagetraffic
a)byrail
b)byroad
c)byothermeansoftransport
1.Goodstraffic
a)byrail
i)fulltrainsandwagonloads
-nationaltraffic
-international traffic
ii)partloadsandparcels
-nationaltraffic
-international traffic
b)byroad
c)othermeansoftransport
2.Postaltraffic
Sub-total
71.Financial revenue
72.Otherrevenue
73.Contraofcostsbookedtoother
accounts
74.Compensations andaidsreceivedunder
0.Regulation (EEC)N°1191/69
1.Regulation (EEC)N°1192/69
2.Regulation (EEC)N°1107/70,Article3
3.Othercompensations andaids
Sub-total10660
8034
2626
2329
2125
2049305
9155
150
13280
12989
162
12»
374
22959
311
2089
1463
3804
440
3472
1532
92488013
132
6901
2218
1846
199
141
102
364
19916
309
1826
1207
3567
429
3021
1280
8297
Totalexpenses40405 36208Totalrevenue.36070 31555
91.0Operatingprofitforthefinancialyear - -91.1Operatinglossforthefinancialyear 4335 4653
II.PROFITANDLOSSSUMMARY
91.1Operatinglossforthefinancialyear
91.3.Exceptional losses
91.4Corporation tax
Specialallocationtoreserves4335
22
1
2674653
207
0
18891.0Operatingprofitforthefinancialyear
91.2Exceptional profits
91.5Balancingsubsidy
-Regulation (EEC)N°1107/70,Article4
-Other1432
3300
33001457
2472
91.6Profitforthefinancialyear 108 -91.7Lossforthefinancialyear 1119

-32-
SNCF-Financial Year1979
FiguresaregiveninmillionsofFF.
I.BalanceSheet
Assets
Revaluation ofAccounts 10to14
Attheendof1978,theSNCFrevalueditsBalanceSheetinaccordance
withtheFinanceActsfor1977and1978.
Landwasrevaluedonthebasisofcurrentmarketprices.
Depreciable assetswererevaluedinaccordance withtheordinaryrules
ondepreciation .Themaximumrevaluation coefficients wereappliedtothe
bookvalue.
Revaluation resultedinanincreaseinthevalueoftheassetsand
oftheundertaking 'sownfunds.
Accounts 10to12-FixedAssets
Thegrossvalueofthefixedassetsanddepreciation breakdownas
follows :
DescriptionGross
ValueAccumulated
DepreciationNetValue
10.LandandFixed 73025 28815 44210
Instailations
11.TransportStockand35837 22070 13767
Equipment
12.OtherStockand 588- 588
Equipment
109450 50885 58565
TheSNCFusesalinearmethodofdepreciation withthepossibility
toamortizecertainmaterialsfaster.
Account14-Shareholdings inOtherCompanies
Financialholdingshavebeenrevalued(seeTableabove)onthebasis
ofeitherthecompanies' netpositionafterrevaluation towhichtheSNCF-

-33-
shareholding percentage wasapplied(subsidiaries wheretheshareholding was
largerthan50%)oronthebasisoftheirprofitability forSNCFinthe
caseoftheremainingshareholdings .
Account15-Long-Term Loans
LoansgrantedtocompaniesinwhichSNCFhasashareholding :
Loansgranted 102.0
Allocation todepreciation 8.3
Netbalance 93.7,ofwhichSociétédeCréditImmobilier des
CheminsdeFer(SOCRIF)
represents 82.8
Accounts 20and21-Stocks
Supplies 2035
Workinprogress 235
2270
Account30-Debtors
Suppliers-down-payments andadvancesmadeonorders 234
Customers 1891
Otherdebtors 2192
Depositsandguarantees 6
Adjustments 716
Suspenseaccountsanditemstobeadjusted 31
Assetsaccountsforrelatedservices 3691
8761
Accounts43to48-BankBalances andCash
Variousitemsinland 426
Bankbalances,postalchequesandTreasury 39
Cashinhand 226
691

-34-
Liabilities
Account01-Reserves
Statutory andcontractual reserves
Difference invalueafterrevaluation
(a)specialreserve(non-depreci ableassets)
(b)specialprovision (depreciable assets)26192
79259642
43759
Account05-Long-TermFinancial Debts
DebtstocompaniesinwhichSNCFhasashareholding areintheform
ofbondsissuedbySNCFandboughtbytheSocieteImmobiliere desChemins
deFerFrangaisforatotalofFF3607mioon31December1979.
Account31-Creditors
Suppliers 2329
Advancesreceivedfromcustomers 49
Othercreditors 3982
Adjustments 1721
Suspenseaccountsanditemstobeadjusted 3
Liabilities accountsforrelatedservices 791
8875
.ProfitandLossAccount
Account60-StaffCosts
Wagesandoperational bonuses
Socialcharges15639
7667
23306

-35-
Account61-MaterialsSuppliedandServicesPerformedbyThirdParties
Purchaseofmaterials 3973
Workdoneandsuppliesandservicesprovided 6269
externally
Variousadministration costs 801
11043
Lesschangeinthestocksaccount -79
10964
Account62-TaxesandDues
Thisaccountbreaksdownasfollows:
DirectTaxesandDues
(a)businesstax 215
(b)propertyanddwellingstax 100
(c)taxoninterestandrepaymentpremiums 20
(d)regularandspecialcontributions relatingto44
apprenticeships andtraining
<e)paymentsrelatingtopublictransport 78
(f)otherdirecttaxesanddues 8
Registration andStampDuty-VehicleTaxonCars23
Miscellaneous Taxes 0
488
TheVATregimeisinaccordance withthe6thdirective EECof
17may1977.
ThisaccountdoesnotincludeanycostinrelationtoVATbecausethe
accounting hereofisseparate.Theprofitandlossaccountortheinvestment
accountonlyhavetobearthenon-deductible VAT.
Account63-Allocations forDepreciation
Allocationfordepreciation (historicvalues)3355

-36-
Account73-ContraofCostsBookedtoOtherAccounts
WorkdonebySNCFonitsownbehalf(tocreatefixedassets)1426
Lessnon-operational workandexpenditure 37
1463
Account74-Compensation andAidReceived
Thisaccountbreaksdownasfollows:
74.0Regulation (EEC)N°1191/69
Compensation fortariffreductions
(a)Mainlinenetwork
(b)Parissuburbannetwork
Compensatory allowances
Compensation forothertariffreductions
(a)Newspapers
(b)Regionaladjustments
Obligation tooperate
-Militarylines
Othercompensations
74.1Regulation (EEC)N°1192/69
Costoflevelcrossingfacilities
Reduction ofthecostofloans
74.2Régulation (EEC)N°1107/70
Infrastructure cost 3472
74.3OtherCompensations andAids
Paymentsfromlocalauthorities :
(a)Reductionofdepreciation cost(Parissuburbs) 238
(b)Compensations fortariffreductions andcompensatory 1294
allowances
15321560
950
583
53
46
5
607
3804
427
13
440

-37-
ProfitsandLossesSummary
TransferstoreservesareaffectedonthebasisofArt.24ofthe
1937Convention.Thisyear'sallocationisFF267mio.
Account91.2-ExceptionalProfits
Thisaccountcoversinparticular :
(a)thedifference invalueafterrevaluation 1105
(b)surplusesrealizedfromthesaleof 48
depreciable assets
non-depreciable assets 267

-38-
CORASIOMPAIREIREANN(CIE)

BALANCE SHEET TABEL5■
Undertaking :CIS at31.12.1979 --<o«L
ASSETS1979 1978LIABILITIES197» 197«
LONG-TERN ASSETS
FixedAssets(Net) •1.1 70,8Capitalandreserves
10Landandfixedinstallations
11Transportstockandéquipaient28,1
48,100Capital
01Reserves12,· 12,· 11,6
12Otherstockandequipment
13Fixedassetsunderconstruction4,9
-02Contribution toinvestment costs
03Provisions1,7
23,82,0
19,4
Otherfixedassets
14Shareholdings inotherundertakings
15Long-termloans
16Costoffloatingloansandloanredemption
premiums00
-04Fundsforstaff
05Long-termfinancialdebts
-debentures
-Stateloans
-otherfinancial debts9,9
29,4
9,648,9
9,9
26,0
10,·
17Miscellaneous fixedassets- -
Sub-total 81,1 70,8 Sub-total 87,2 79,7
CURRENTASSETS
Stocks
20-21(Instoreorbeingmanufactured ) 21,9 12,8
Realizable assets 18,0-
30Debtors15,3 15,1
41Loansrepayablewithin
oneyear - -
42Billsreceivable
45Securities2,7 2,3Currentliabilities
31Creditors 34,6 23,7
Bankbalances andcash
43-46-47-48Chequesinhand,postalchequeaccounts,
bankaccounts,cashinhand1,3 1,940Financialdebtsoflessthanone-year
ter·
44Bilispayable8Ί 4,9
Sub-total 41,2 32,1 Sub-total 42,7 28,6
Results7,4Results -
06.1Lossesforpreviousfinancialyears 5,*06.0Profitsforpreviousfinancialyears - -
07.1Lossforthefinancialyear 2,2 5,407.0Profitforthefinancialyear - -
Assets:Total 129,9 108,3Liabilities :Total 129,9 104,3
!SSSS*3SC:SSS1
I
UJo

PROFIT ANO LOSS ACCOUNTTABELch
I.GENERAL OPERATION
Undertaking :£1E BfoIW. Year 1979
EXPENSES197» 197« REVENUE 1979 1978
60.Staff costs
61.Material supplied and services performed
bythird parties
62.Taxes and dues
63.Allocations fordepreciation
64.Allocations toprovision accounts
65.Financial charges105,1
59,7
5,*
9,9
5,088,2
42,9
9,5
*,670.Traffic revenue
0.Passenger and luggage traffic
a)byrail
b)byroad
c)byother aeans oftransport
1.Goods traffic
a)byrail
i)full trains andwagon loads
-national traffic
-international traffic
ii)part loads andparcels
-national traffic
-international traffic
b)byroad
c)other aeans oftransport
2.Postal traffic
Sub-total
71.Financial revenue
72.Other revenue
73.Contra ofcosts booked toother
accounts
74.Compensations and aids received under
0.Regulation (EEC )N°1191 /69
1.Regulation (EEC )N°1192 /69
2.Regulation (EEC )N°1107 /70,Article 3
3.Other compensations and aids
Sub-total7,5
7,2
0,3
6,2
6,1
0,173,7
19.4
54,2
0,1
27.4
13,7
13,7
0
1,1
102,2
10.5
14,9
17,1
3,8
19.5
0,1
40,515,1
51,9
0,1
6.0
0,2
6,7
0,1
12,1
0
1.1
93,3
9,6
9,0
14,8
3,0
8,6
0,2
26,6
Total expenses 185,1 149,4Total revenue 168,1 138,5
91.0 Operating profit forthefinancial year- -91.1 Operating loss forthefinancial year17,0 10,9
II.PROFIT ANO LOSS SUMHARY
91.1 Operating loss forthefinancial year
91.3.Exceptional losses
91.4 Corporation tax17,0
0,710,9
0,491.0 Operating profit forthefinancial year
91.2 Exceptional profits
91.5 Balancing subsidy
-Regulation (EEC)N°1107 /70,Article 4
-Other15,5
",5 11'1
91.6 Profit forthefinancial year- -91.7 Loss for the financial year 2,2 0,2
O

-41-
CIE-FINANCIAL YEAR1979
Explanatory Notes
FiguresaregiveninmillionsofIRL.
I.BalanceSheet
Assets
Accounts 10to12-FixedAssets
Theamountsshownrepresentthenetvalueoffixedassetsacquired
since1950,includingrailwaylinesandworksincurredsince1974.Theyalso
includeworkinprogress.
Description GrossValueAccumulated
DepreciationNetValue
10.LandandFixed
Instailations28.6 0.5 28.1
11.TransportStockand
Equipment78.2 30.1 48.1
12.OtherStockand
Equipment7.0 2.1 4.9
113.8 32.7 81.1
Accounts 20and21-Stocks
Stocksarevaluedatcost,generallydetermined onthebasisofthe
averagecost,whichiscomputedaftermakingprovisionfordefectiveand
obsoletestocks.
Maintenance materials andspareparts 12.7
Fuel,lubricants andothersundrystocks9.2
21.9

-42-
Liabilities
Account01-Reserves
Fundforthedepreciation oftransportstockandequipment 2.7
BankLoansredemption fund 0.2
Redemption fund-unsecured Loans 0.2
CapitaLreserves 9.7
12.8
Account31-Creditors
Creditors andexpensesoutstanding 33.9
Taxcharges 0.1
EquaLisation account:renewaLofLinesandworks 0.6
34.6
Account40-FinanciaL DebtsofLessthanOneYearTerm
Amountduetobanks 6.1
Unsecured bankLoans 2.0
8.1
ProfitandLossAccount
Expenses
Account60-StaffCosts
StaffcostsincLude:
(a)totaLpayroLLcostsincLudingcontributions tosociaL
weLfarefunds 98.7
(b)contributions tosuperannuation andpensionfundsin
respectofempLoyeesinempLoyment 6.4
105.1

-43-
Account61-MaterialSuppliedandServicesPerformedbyThirdParties
Material
OIEsubsidiary,supplies,etc.
Servicesbythirdparties40.9
3.0
15.8
59.7
Account62-TaxesandDues
Non-deductible VAT
Importandexcisedutypayments
Roadtaxandlicencesinrespectofroad
vehicleoperations3.0
1.6
0.8
5.4
Account63-Allocations forDepreciation
Depreciation
MovementonAssetReplacement Reserve5.5
4.4
9.9
Account65-Financial Charges
(a)Netfinancialcharges(interestontrans­
portstocksandonrepayableStateadvance
forcapitalexpenditure )
(b)Transferofrentsreceived
(c)Redemption fund-unsecuredloanforstock
andequipment4.8
0.1
0.1
5.0
REVENUE
Account72-OtherRevenue
Thisincludesrevenuefrom

-44-
Ca)otherrailandroadservices
(b)hotelsandcateringservices
(c)Rosslareharbouroperations
(d)canaloperations0.5
7.8
1.3
0.1
0.7
0.1(e)workforthirdparties
(f)rentsreceivable
10.5
Account73-ContraofCostsBookedtoOtherAccounts
Thisheadingcoverscapitalexpenditure .
Account74-Compensation andAid
Thisaccountbreaksdownasfollows:
74.0Regulation (EEC)N°1191/69
Operationofpassengerservices 17.1
74.1Regulation (EEC)N°1192/69
Retirementandpensions 3.3
Levelcrossings 0.5
3.8
74.2Regulation (EEC)N°1107/70
Contribution toinfrastructure expenses 2.8
Deficitontheoperationofroadpassenger
transportservicesinDublinandinthe
provinces 16.7
19.5
74.3OtherCompensation andAid
Compensation forlossesontheGalway-Aran
Islandsferryservice 0.1

-45-
ProfitandLossSummary
Account91.3-Exceptional Losses
Thisaccountincludes :
Provisionsforlossoninterestinsubsidiary companyofOIE
Provisionsforadditional lossesofsubsidiary companyofOIE
Note
Re-statedtrasposedaccountsfor1978
Torecognisetheeffectofchangedaccountingpoliciesasfollows:
(a)ThereportingofFixedAssetsandDepreciation Provisionfigureshas
beenchangedwithregardtothetreatmentoftheexcessofdepreciation
basedonreplacement costoverhistorical costdepreciation .Inprior
yearsthefullreplacement costdepreciation provision wasdeducted
fromthecostoftherelatedassets.Fromnowontheexcessofdepre­
ciationisshowninAccount03.Onlythedepreciation calculated on
originalcostisdeductedfromtheoriginalcostofFixedAssets.
(b)Thepolicyfollowedinaccountingforexpenditures onRailwayLines
andWorkswhichinprioryearswasdebitedtoCapitalReserveswas
changedfrom1979onwardswithretrospective effectto1stApril1974.
Expenditures onRailwayLinesandWorksareincludedinAccount10.0.26
0.48
0.74

-46-
AZIENDA AUTONOMA DELLEFERROVIE
DELLOSTATO(FS)

BALANCE SHEETTABEL 6a
UndertakingFSat31.12.197»HrdLIT
ASSETS 197» 1978 LIABILITIES 1979 1978
,<->.·
LONG-TERM ASSETS
FixedAssets(Net)5977 Capitalandreserves
10Landandfixedinstallations 3250 2895 00Capital 45 45
11Transportstockandequipment 2570 220101Reserves 1594 1639 1414
12Otherstockandequipment 156 137 02Contribution toinvestment costs 2086 1830
13Fixedassetsunderconstruction - - 03Provisions 878 824
Otherfixedassets
14Shareholdings inotherundertakings
15Long-term loans
16Costoffloatingloansandloanredemption
premiums17
309326 283
15
26804Fundsforstaff
05Long-termfinancialdebts
-debentures
-Stateloans
-otherfinancial debts2072
6937
140310412
213»
5703
1258
17Miscellaneous fixedassets
Sub-total 6303 5516 Sub-total15015 13213
CURRENTASSETS
Stocks
20-21(Instoreorbeingmanufactured ) 797 564
Realizable assets 874
30Debtors
41Loansrepayablewithin
oneyear874 759
42Billsreceivable
45SecuritiesCurrentliabilities
31Creditors Ζ481 1614
Bankbalances andcash 40Financialdebtsoflessthanone-year 8 -
43-46-47-48Chequesinhand,postalchequeaccounts,
bankaccounts,cashinhand898 467ter·
44Billspayable_
Sub-total 25691790Sub-total 2489 1614
Results•632Results -
06.1Lossesforpreviousfinancialyears 7415 622606.0Profitsforpreviousfinancialyears - -
07.1Lossforthefinancialyear 1217 1295 07.0Profitforthefinancial year - -
Assets:Total 17504 14827 Liabilities :Total 17504 14827
I
•5»
-o

PROFIT AND LOSS ACCOUNT TABEL
I.GENERAL OPERATION
Undertaking :FS -RD .IT Year 1*70
EXPENSES1979 1978 REVENUE 1979 1978
60.Staff costs2612 194470.Traffic revenue
61.Material supplied and services performed 1345 1157 0.Passenger and luggage traffic751 650
bythird parties a)byrail
62.Taxes and dues95 76 b)byroad
c)byother means oftransport
3.Allocations fordepreciation- -1.Goods traffic 501 422
434 520a)byrail
4.Allocations toprovision accounts i)full trains and wagon loads
409-national traffic
65.Financial charges420-international traffic
ii)part loads andparcels
-national traffic
-international traffic
b)byroad
c)other aeans oftransport
2.Postal traffic1 2
Sub-total1253 1074
71.Financial revenue 26 20
72.Other revenue 149 108
73.Contra ofcosts booked toother 508 480
accounts
74.Compensations and aids received under
5930.Regulation (EEC )N°1191 /69806
1.Regulation (EEC )N°1192 /69416 366
2.Regulation (EEC)N°1107 /70,Article 3- -
3.Other compensations and aids- 1222-
'
Sub-total1222 959
Total expenses4906 4106Total revenue3158 2641
91.0 Operating profit forthefinancial year- -91.1 Operating loss forthefinancial year1748 1465
•
II.PROFIT AND LOSS SUMMARY
91.1 Operating loss forthefinancial year1748 146591.0 Operating profit forthefinancial year- -
91.3.Exceptional losses1 191.2 Exceptional profits49 50
91.4 Corporation tax- -91.5 Balancing subsidy483 121
-Regulation (EEC)N°1107 /70/Article 4483
-Other
91.6 Profit forthefinancial year- -91.7 Loss for thefinancial year1217 1295
I

-49-
FS-FINANCIAL YEAR1979
Explanatory Notes
Figuresaregiveninmilliards (thousandsofmillions)ofLIT.
I.BalanceSheet
Assets
Accounts 10-12-FixedAssets
Thefiguresinaccounts10to12arethecostsofacquisition or
construction astheFSdoesnotemploythesystemofdepreciating fixed
assets.Thelastrevaluation tookplacein1927.
Account15-FixedAssetsunderConstruction
Investment expenditure isbookeddirectlytotheaccountsconcerned
withoutpassingthroughthisaccount.
Account16-CostofFloatingLoansandLoanRedemption Premiums
Issuecostsareneverdepreciated .
Accounts 20and21-Stocks
ThefigureofLIT797mrdincludesworkinprogressinFSworkshops;
notallofthisisconcernedwithstocks.
Account06.1-LossesforPreviousFinancial Years
TheamountenteredinthisaccountincludesLIT7352mrdcovered
byloans.
Account07.1-LossfortheFinancial Year
LIT755mrdofthelossforthefinancialyeariscoveredbyadvance
loansfromtheTreasuryMinistry.

-50-
Liabilities
Account00-Capital
Theamountenteredinthisaccountrepresents theinitialState
allocationforlinesandequipmentandsuccessive changes.Infact,changes
takeplaceonlyasaresultoftheclosureoflinesbyPresidential Decree.
Account02-Contribution toInvestment Costs
TheamountenteredunderthisaccountincludesLIT1308mrdbyway
ofreimbursement bytheStatefortheredemptionofloans(excludinginterest
contracted tofinanceinvestments).
Account05-Long-TermFinancial Debts
ThesedebtsincludeLIT8108mrdinrespectoflongtermdebtto
coverlosses.Thisismadeupasfollows:
Debenture loans 1175
Stateloans 6933
8108
Theseamountscanbesetoffagainstthoseenteredunder06.1and
07.1.TheamountsinquestionareindicatedintheNotestothoseAccounts.
DebtstocompaniesinwhichFShasashareholding amountto
LIT335mrd(Eurofima).
II.ProfitandLossAccount
Expenses
Account62-TaxesandDues
Theamoutenteredinthisaccountismadeupasfollows:
Taxesonlandandbuildings 1.1
Non-deductible VAT 13.15
VATnotrecoverable fromusers 80.0
94.6

-51-
Account63-64
TheFSdoesnotdepreciateitsfixedassets,butsetsupanannual
reservefortheirrenewalwhichisenteredunderaccount64.
Account65-Financial Charges
TheamountofLIT420mrdincludesrepayments andinterestforloans
contracted tocoverdeficitsreimbursed bytheStateundertheprovisions
ofRegulation (EEC)N°1192/69(seeNotestoAccount74.1).
Revenue
Account70-TrafficRevenue
Itisimpossible toprovideaccounting databrokendownasrequired
byAnnexIVtoRegulation (EEC)N°2830/77.
Account74-Compensatory andAid
Thesearemadeupasfollows:
74.0Regulation (EEC)N°1191/69
Operationof:
(a)low-traffic lines 275
(b)unprofitable installations 11
(c)ferryservicestoSardinia 18
(i1>substitute roadservices 1
Tariffobligations 125
Expensesarisingfromtariffobligations 341
ofasocialnature
Mailtransport275
11
18
1
125
341
35
806

-52-
74.1Regulation N°1192/69
Expenditure ofasocialnature(ClassII) 11
Superannuation andpensions (ClassIII) 77
Levelcrossings (ClassIV) 34
Recognition ofservicestothecountry(ClassX)24
Conditions inrespectoftheplacingofpublic 20
tenders(ClassXIV)
Lackofnormalization inthepast(ClassXV)
(a)interest onloansfortherenewalofinstal-45
lations
(b)financialcharges(capitalandinterest)on204
loanscontracted tocoverdeficits
416
Account91.7-LossfortheFinancial Year
AsmentionedintheNotetoBalanceSheetAccount07.1,theloss
forthefinancialyearincludesthesumofLIT755mrdalreadycovered
byStateloans.Thisamountcouldbetransferred toAccount91.5-Balancing
Subsidy.

-53-
SOCIETENATIONALE DESCHEMINS DEFER
LUXEMBOURGEOIS (CFL)
%

BALANCE SHEET TABEL7a
Undertaking :CFL at* *10
ASSETS1»7» 1978 LIABILITIES 1979 197«·
LONG-TERM ASSETS
FixedAssets(Net)3083 Capitalandreserves
10Landaridfixedinstailations 673 692 00Capital 1600 1609
11Transportstockandequipment 1408 148901Reserves 988 2588 90*
12Otherstockandequipment 38 43 02Contribution toinvestment costs - -
13Fixedassetsunderconstruction 964 587 03Provisions 358 351
Otherfixedassets
14Shareholdings inotherundertakings
15Long-term loans
16Costoffloatingloansandloanredemption
premiums5151
5204Fundsforstaff
05Long-termfinancialdebts
-debentures
-stateloans
-otherfinancial debts295
476
3661137 32·
50»
36«
17Miscellaneous fixedassets
Sub-total 3134 2863 Sub-total 4083 404«
CURRENTASSETS
Stocks
20-21(Instoreorbeingmanufactured ) 528 437
Realizable assets1492
30Debtors922 711
41Loansrepayablewithin
oneyear 500 600
42Billsreceivable
45Securities70 91Currentliabilities
31Creditors 803 7H
Bankbalances andcash
43-46-47-48Chequesinhand,postalchequeaccounts,
bankaccounts,cashinhand 23 2240Financialdebtsoflessthanone-year
term
44Billspayable425 1«B
Sub-total 2043 1861 Sub-total 1228 817
Results 134Results-
06.1Lossesforpreviousfinancialyears 134 141 06.0Profitsforpreviousfinancialyears--
07.1Lossforthefinancialyear - - 07.0Profitforthefinancialyear- "
Assets:Total 5311 4865 Liabilities :Total $311
S3ZÌK5SSSSS4Ιβ
1
V/I

PROFITANDLOSSACCOUNT TABÉL7b
I.GENERALOPERATION
Undertaking :£FL BioLFR Yeart979
EXPENSES1979 1978REVENUE1979 1978
60.Staffcosts
61.Materialsuppliedandservicesperformed
bythirdparties
62.Taxesanddues
63.Allocations fordepreciation
6%.Allocations toprovisionaccounts
65.Financialcharges«SAI
459
55
3β9
171
1674258
408
53
371
161
16570.Trafficrevenue
0.Passenger andluggagetraffic
a)byrail
b)byroad
c)byothermeansoftransport
1.Goodstraffic
a)byrail
i)fulltrainsandwagonloads
-nationaltraffic
-international traffic
ii)partloadsandparcels
-nationaltraffic
-international traffic
b)byroad
c)othermeansoftransport
2.Postaltraffic
Sub-total
71.Financial revenue
72.Otherrevenue
73.Contraofcostsbookedtoother
accounts
74.Compensations andaidsreceivedunder
0.Regulation (EEC)N°1191/69
1.Regulation (EEC)N°1192/69
2.Regulation (EEC)N°1107/70,Article3
3.Othercompensations andaids
Sub-total1544
265
1279
40
1
39232
28
1602
1584
1»
1834
52
111
1629
1428
641
3698182
27
214
1161
1
39
20
1642
52
88
1597
1719
251
3567
Totalexpenses 5802 5416 Totalrevenue 5695 5343
91.0Operatingprofitforthefinancialyear- -91.1Operatinglossforthefinancialyear 107 68
II.PROFITANDLOSSSUMMARY
91.1Operatinglossforthefinancialyear
91.3.Exceptional losses
91.4Corporation tax107 68
291.0Operatingprofitforthefinancialyear
91.2Exceptional profits
91.5Balancingsubsidy
-Regulation (EEC)N°1107/70,Article4
-Other-12
91.6Profitforthefinancialyear 91.7Lossforthefinancialyear 107 58 i

-56-
CFL-FINANCIAL YEAR1979
Explanatory Notes
FiguresaregiveninmillionsofLFR
BalanceSheet
Assets
Accounts 10to12-FixedAssets
Theamountsrepresentthenetvalueoftheassetsbuiltandacquired :
Description GrossValueAccumulated
DepreciationNetValue
10.LandandFixed
Instailations1189 516 673
11.TransportStock
andEquipment2629 1221 1408
12.OtherStock
andEquipment150 112 38
3968 1849 2119
Thereisnodepreciation inthecaseofland.
Thevalueofthelandandfixedinstallations placedatCFL'sdisposal
bytheStatewhenthecompanywasformedappearsintheBalanceSheetasnil.
Therenewalcostsforthesefixedassetsareregardedasadepreciation
allocation chargedtotheoperatingaccount.
Account13-FixedAssetsunderConstruction
TheactualcostofthisworkisshownintheBalanceSheet.
Account20-21-Stocks
Thevaluationisbasedoncurrentprices.
490
112
320Account30-Debtors
Miscellaneous debtors
Expensesprepaid
Costsfor1980paidin1979
922

-57-
Account07.1-LossfortheFinancial Year
Thelossiscoveredbythereservesanddoesnotappearunderthisitem.
LIABILITIES
Account01-Reserves
Reservefundsandpartsoflongandmedium-term debts1095
paidoff
Lessamountwithdrawntocoverthedeficitfor1978-107
Account03-Provisions
II.ProfitandLossAccount
Expenses
Account60-StaffCosts988
Insurance Fund 191
Fundfortherecoveryofinitialexpenses 167
358
Account05-Long-TermFinancial Debts
Otherfinancial debtsare:
Cashadvanceswhichcanbeconsolidated 250
DebtstocompanyinwhichCFLhasashareholding 116
(Eurofima)
366
Account31-Creditors
Shareholders 48
Othercreditors 600
Customercreditors 2
Incomereceivedinadvance 75
Coststobepaid 78
803
Theremuneration ofstaffinemployment excludesthatrelatingto
investment whichischargedtotherelevantaccountitems.

-58-
Account62-TaxesandDuesare
Municipalpayrolltax,
Municipaltradetaxand
Propertytax
Accoutn64-Allocations toprovisionaccounts
171
Revenue
Account74-Compensation andAidReceived
Regulation (EEC)N°1191/69-Passengertraffic 1629
Regulation (EEC)N°1192/69-Familyallowances 31
Superannuation andpensions 1446
Levelcrossings 15
Lackofnormalization inthepast 5
Toomuchcollectedin1976 -69
1428
Régulation (EEC)N°1107/70-Infrastructure cost 641
ProfitandLossSummary
91.7LossfortheFinancial Year
SeetheNotestoBalanceSheetAccount07.1.

-59-
NEDERLANDSE SPOORWEGEN (NS)

BALANCE SHEET TABEL 8«
31.12.1979 RioHFL
Undertaking : *5 at
ASSETS 19 9 1978 LIABILITIES 19 79 1978
LONG-TERN ASSETS
Fixed Assets (Net ) 3222 Capital and reserves
10Land and fixed installations 1755 158100Capital 484 484
11Transport stock andequipment74« 682 01Reserves 1964 2448 1992
12Other stock andequipment- - 02Contribution toinvestment costs 495 105
13Fixed assets under construction 721 596 03Provisions 102 84
Other fixed assets
14Shareholdings inother undertakings
15Long-term loans
16Cost offloating loans andloan redemption
premiums427
10781505
401
111504Funds for staff
05Long-tern financial debts
-debentures
-state loans
-other financial debts245
44
145529
174424
24«
49
1499
17Miscellaneous fixed assets- -
Sub-total 4727 4375 Sub-total4818 448S
CURRENT ASSETS
Stocks
20-21 (Instore orbeing manufactured ) 184 168
Realizable assets 384
30Debtors 267 138
41Loans repayable within
one year 117 244
42Bills receivable
45Securities'- -Current liabilities
31Creditors 464 364
Bank balances and cash
43-46-47-48Cheques inhand ,postal cheque accounts ,
bank accounts ,cash inhand64 5140Financial debts ofless than one-year
tern
44Bills payable108 129
Sub-total 632 601 Sub-total 572 493
Results 31 Results-
06.1 Losses forprevious financial years- - 06.0 Profits forprevious financial years- -
07.1 Loss forthefinancial year 31 2 07.0 Profit for the financial year
Assets :Total 5390
sssssssssss :4978
3SSSSSSII3IS3Liabilities :Total 5390 497·
I
Oo

PROFITANDLOSSACCOUNT TABfi»
I.6ENERALOPERATION
Undertaking sNS Year:^79
EXPENSES1979 1978 REVENUE1979 1978
ÓO.Staffcosts1416 134270.Trafficrevenue
61.Materialsuppliedandservicesperformed 519 459 0.Passenger andluggagetraffic772
709bythirdparties a)byrail772
62.Taxesanddues5 7 b)byroad•
c)byothermeansoftransport
63.Allocations fordepreciation202 2731.Goodstraffic314
133 126a)byrail289314
64.Allocations toprovisionaccounts i)fulltrainsandwagonloads
-nationaltraffic100 91
65.Financialcharges41 28 -international traffic189 155
ii)partloadsandparcels5
-nationaltraffic1 1
-international traffic4 6
*b)byroadHi]Otherrevenue20- 18
c)othermeansoftransport- -
2.Postaltraffic 31 34
Sub-total 1117 1014
71.Financial revenue 12 22
72.Otherrevenue 75 64
73.Contraofcostsbookedtoother 215 205
accounts
74.Compensations andaidsreceivedunder 769 7*7
0.Regulation (EEC)N°1191/69 43 41
1.Regulation (EEC)N°1192/69- -
2.Regulation (EEC)N°1107/70,Article3 -
3.Othercompensations andaids812 808
Sub-total
Totalexpenses 2316 2235 Totalrevenue 2231 2113
91.0Operatingprofitforthefinancialyear - - 91.1Operatinglossforthefinancialyear 85 17?.
II.PROFITANDLOSSSUMMARY
91.1Operatinglossforthefinancialyear 85 122 91.0Operatingprofitforthefinancialyear
91.3.Exceptional losses- -91.2Exceptional profits- -
91.4Corporation tax- -91.5Balancingsubsidy 54 1?0
-Regulation (EEC)N°1107/70,Article4 54
-Other –
91.6Profitforthefinancialyear- - 91.7Lossforthefinancialyear 31 2
i

NS-FINANCIAL YEAR1979
Explanatory Notes
FiguresaregiveninmillionsofHFL,
BALANCE SHEET
Account00-Capital
Thecompany'ssharecapitalconsistsofHFL1mrddividedinto
onemillionsharesofHFL1000each,ofwhichHFL484.4miowereissued
andpaidupasat31December1979.
Account01-Reserves
Thisaccountcontainsinparticular thefollowing :
969
617";/
66' ,
281•
Account02-Contributions toInvestment Costs
Thisaccountcontainstheinvestment grantsfromtheStateandthe
premiumspaidinaccordance withthe"WetInvesteringsrekening (WIR)",
Account03-Provisions
Thisaccountconsistsofprovisionsfor:
maintenance offixedassets
Reorganization offreighttrafficand
Otherprovisions
Itincludesprovisionsfortheequaldistribution ofcertain
chargesandthecoverofspecificrisks.
Account04-FundsforStaff
Thisitemconsistsofaprovisionforearlyretirement pensions(a
percentage ofthetotalamountofpensioncontribution ispaidintothis
reserveeachyear)andpensioncommitments whicharenotcoveredbytheGeneralreserve
Revaluation reserve
Investment reserve
Reserveforshareholdings

-63-
railway'spensionfund.Thecontribution tothisfundisincludedinthe
pensioncostofAccount60.TheStatealsocontributes totherailway's
pensionfund.
Account05-Long-TermFinancial Debts
Thesearedebtswhichstillhavemorethanayeartorun.Theannual
repayments whichhavetobemadeonthelong-termloansinthenextyearare
includedunderAccount40.
Thedebtsareenteredatnominalvalue.
Foreigncurrencyloansareconvertedatthelatestexchangeratein
1979.TheexchangedifferenceisenteredintheAccount01.
ThisaccountdoesnotincludedebtstocompaniesinwhichNShas
ashareholding .
Account10-12-FixedAssets
10.LandandInstallations
11.TransportStockandEquipment
Account10-Expenditure onthemaintenance ofpermanent way(exceptonstreng­
thening)ischargedtotheoperational Account64.
Account11-includesstockandequipmentobtainedfromEurofinaonhire
purchase.
Account12-Purchasesofmachinery,toolsandservicevehiclesare
inthecourseoftheyear(HFL18mio).
Account13-FixedAssetsunderConstruction
Expenditure whichshouldnotappearontheassetssideisdeducted
fromtheexpenditure incurred.Depreciation commencesonentryintoservice.
Landandfixedinstallations 561
Transportstockandequipment 156
Otherstockandequipment 4
721_ .Accumulated .,Grossvalue ....NetvalueDepreciation
3214 1459 1755
1642 896 746

-64-
Account14-Shareholdings inOtherCompanies
Thevalueoftheshareholdings isthatshowninthemostrecently
publishedBalanceSheetsofthecompaniesinquestion.Itrelatestoown
capital,withdueallowanceforprofitorloss.
Account15-Long-Term Loans
Theseloansmainlyinclude:
(a)claimontheStateforlossespriorto19761000
(b)financingofnewlines 64
(c)loansgranted 14
(including HFL3miotoacompanyinwhichNShasashareholding )
Account20-Stocks
Stocksarevaluedatthe1January1980pricelevel,lessaprovision
forobsolesence .Anypricedifferences arechargedtotheReservefor
Revaluation Account01.
Account30-31-Debitors andCreditors
Theseaccountsaretakenuptonominalvalue.
Account40-Financial DebtsofLessthanOneYearTerm
Thisaccountcoverstheredemption inthecomingyearofloanswith
aremainingtermofmorethanoneyear.
Repayments offoreign-currency loansareconvertedintoHFL.The
exchangedifferenceischargedtotheReserveforRevaluation (Account01).
Account41-LoansrepayablewithinaYear
ThisaccountliststhepartoftheclaimontheStateresultingfrom
accumulated lossespriorto1976andfallingdueinthecomingyear
(HFL49.3mio)andshort-term investments (tonominalvalue).
II.ProfitandLossAccount
Account60-StaffCosts
Thesumenteredinthisaccountcanbebrokendownasfollows:

-65-
Remuneration 893
Socialcharges 503
Otherstaffcosts 21
Account61-MaterialSuppliedandServicesPerformedbyThirdParties
Thisaccountincludes :
(a)suppliesfromandmaintenance bythirdparties 252
ofwhichforfixedinstallations 120
forrollingstock 103
(b)thecostsofelectricity,fueland 168
communications
(c)thecostsofautomaticdata-processing 41
Account62-TaxesandDues
Thisaccountincludes
non-deductible VAT,propertytax,environmental taxesandother
deductible taxes.
Itdoesnotincludedeductible VAT.NSpaysVATongoodswhichit
purchases andchargesVATinrespectofitspassenger andfreightser­
vices.Whentheaccountsarecleared,excessVATpaidorchargedis
claimedorreimbursed,asappropriate .
Account63-Allocations forDepreciation
Thisitemcontainsdepreciation onthebasisofthepurchaseprice
(a)depreciation allocation 140
(b)additionaldepreciation (ingoodstraffic) 31
(c)expenditure whichshouldnotbeshownonthe 33
assetsside
(d)bookvaluelosses 2
206
(e)amortization onpremiums WIR -4
202

-66-
Account64-Allocations toProvision Accounts
Thisaccountcoversallocations :
(a)totheprovisionaccountforthemaintenance 119
ofthepermanent way
(b)forthemodification andimprovement ofrollingstock3
Account65-Financial Charges
Theamountofthisaccountisthedifference between
interestpaid
andinterestreceived-fromtheState 86
-fromothers
TheProfitandLossAccountthereforeincludesinterestamountingto
HFL86miobywayoffinanciallossesupto1975.Theaccumulated lossit­
selfisconvertedintoaclaimontheState.
Account71-Financial Revenue
Thisaccountalsoincludesthecorporation taxfor1978transferred
toNSin1979byitsconsolidated subsidiaries ;nocorporation taxwasdue
fromNSin1978becauseofitsdeficit.
Account72-OtherRevenue
Thisaccountalsoincludesgeneralexpenses,directwagesandthe
indirectcostofmaterialschargedtothirdparties(HFL23.5mio).
Account74-Compensation andAid
74.0.Regulation (EEC)N°1191/69
Maintenance ofpassengertraffic 769
74.1.Regulation (EEC)N°1192/69
Crossingfacilities 43
812
Account91.5.-BalancingSubsidy
(a)Statesubsidyforfreighttrafficin1979equalto124
lossescalculated onthebasisoffullcosts
(b)Adjustment oftheCompensation forPublicService-70
Obligations accountsfor1979andStatesubsidyfor
freighttrafficin1979 54

-67-
Account91.1-operating Lossoftheyear 85
Account91.5-Balancingsubsidy 54
(Regulation (EEC)N°1l07/70/art.4)
Account91.7-Lossforthefinancialyear 31
whichcoversallocationfordepreciaiticn offixedassetstobeusedinthe
goodstransport.

-68-
BRITISH RAILWAYS BOARD (BRB ]

BALANCE SHEETTABEL9a
HioUKL
Undertaking :BUS at
ASSETS LIABILITIES
LONG-TERM ASSETS
FixedAssets(Net)1151,6 Capitalandreserves'
10Landandfixedinstallations 50«,« 465,8 00Capital- -
11Transportstockandequipment 558,6 469,4 01Reserves 462,6 462,6 389,7
12Otherstockandequipment 84,6 66,8 02Contribution toinvestment costs- -
13Fixedassetsunderconstruction - - 03Provisions 39,8 40,8
Otherfixedassets
14Shareholdings inotherundertakings
15Long-term loans
16Costoffloatingloansandloanredemption
premiurns2,0
970,0972.0
2,1
808,6
0,504Fundsforstaff
05Long-termfinancialdebts
-debentures
-Stateloans
-otherfinancial debts382,8
163,6945,9
546,4786.1
493.2
341,β
151,4
17Miscellaneous fixedassets
Sub-total 2123,6 1813,2 Sub-total 1994,7 1709,8
CURRENT ASSETS*
Stocks
20-2'(Instoreorbeingmanufactured ) 186,9 159,0
Realizable assets 228,5
30Debtors 226,6 186,3
41Loansrepayablewithin
oneyear 1,9 1,*
42BiIIsreceivable
45Securities--Currentliabilities
31Creditors 394,5 344,3
Bankbalances andcash 40Financialdebtsoflessthanone-year
120,1 74,443-46-47-48Chequesinhand,postalchequeaccounts,
bankaccounts,cashinhand 11,9 10,8ter·
44Billspayable
Sub-total *27,3 357,5 Sub-total 514,6 418,9
Results0,* Results 42,0
06.1Lossesforpreviousfinancialyears - - 06.0Profitsforpreviousfinancialyears *2,0 35,6
07.1Lossforthefinancialyear 0,4- 07.0Profitforthefinancial year-6,4
Assets:Total 2551,3 2170,7 Liabilities :Total 2551,3
S3SSSSS3SZS32170,7
icsszsisssssal
i
o
<0

PROFITANÛLGSSACCOUNT TABEL9b
X.GENERALOPERATION
Undertaking :brB HioUKL Year-£q7q
EXPENSES1979 1978REVENUE1979 1978
60.Staffcosts
61.Materialsuppliedandservicesperformed
bythirdparties
62.Taxesanddues
63.Allocations fordepreciation
64.Allocations toprovisionaccounts
65.Financialcharges1376,8
1015,5
0,1
109,4
62,91189,6
856,2
0,2
93,5
50,070.Trafficrevenue
0.Passenger andluggagetraffic
a)byrail
b)byroad
c)byothermeansoftransport
1.Goodstraffic
a)byrail
i)fulltrainsandwagonloads
-nationaltraffic
-international traffic
ii)partloadsandparcels
-nationaltraffic
-international traffic
b)byroad
c)otheraeansoftransport
2.Postaltraffic
Sub-total
71.Financial revenue
72.Otherrevenue
73.Contraofcostsbookedtoother
accounts
74.Compensations andaidsreceivedunder
0.Regulation (EEC)N°1191/69
1.Regulation (EEC)N°1192/69
2.Regulation (EEC)N°1107/70,Article3
3.Othercompensations andaids
Sub-total430,2
89,5964.5
855,8
108,7
622,9
519,7
14,0
89,2
40,9
1628,3
3,9
164,2
231.6
522,5
12,9
2,1
538,1!
751.2
92,3
I
390,6
5,3
82,0
49,»
37,0
1408,3
(0,3)
144.8?
195.9
434,1
10,8
2'4
447.3
Totalexpenses 2564,7 2189,5 Totalrevenue 2566,1 2196,0
91.0Operatingprofitforthefinancialyear M 6,591.1Operatinglossforthefinancialyear- -
II.PROFITANDLOSSSUMMARY
91.1Operatinglossforthefinancialyear
91.3.Exceptionallosses
91.4Corporation taxM 0,191.0Operatingprofitforthefinancialyear
91.2Exceptional profits
91.5Balancing subsidy
-Regulation (EEC)N°1107/70,Article4
-OtherM 6,5
91.6Profitforthefinancialyear 6,491.7Lossforthefinancialyear J0,4 –
i
-vlo

-71-
BRB-FINANCIAL YEAR1979
Explanatory Notes
FiguresaregiveninmillionsofUKL.
I.General
1.Propertyletorheldforsaleisnotamortized,inviewofthe
continuingappreciation ofprppertyvalues.Theseproperties havebeen
revaluedonanopenmarketbasisasat31December1978andtherevised
valueincludedinthecapitalaccount.Thesurplus(UKL97mio)onreva­
luationandonsalesofnon-operational propertyweretransferred tothe
CapitalReserveaccount.
2.LeasedAssets
Rollingstock,shipsandplantsandequipmentacquiredunderleasing
arrangements areincludedinfixedassetsandamortisedinthenormalway.
ThiscapitalelementisincludedundertheheadingLoansandLeasingLiabi­
litiesandreducedbythevalueofthecapitalproportion ofleasepayments;
theremainderoftheleasepaymentsischargedtotheAccount65.
3.SpecialReplacement Allowance
AsumofUKL56.7miofortheSpecialReplacement Fund,receivedas
PublicServiceObligationsupport,hasbeenenteredunder"Provisionfor
Replacement ofRailPassengerAssets".Ithasthenbeentransferred to
theCapitalReserve(Account01).
II.BalanceSheet
Assets
Accounts 10to13-FixedAssets
Theamountsincludedaremadeupasfollows:

-72-
Description GrossValueAccumulated
DepreciationNetValue
10.LandandFixed 583.4 75.0 508.4
Installations
11.Transport Stockand 1187.2 628.6 558.6
Equipment
12.OtherStockand 155.3 70.7 84.6
Equipment
1925.9 774.3 1151.6
Account13
TheseamountsareincludedinAccounts 11and12.
Account14-Shareholdings inOtherCompanies
ThesumofUKL2.0mioisthetotalbookvalueofshareholdings in
otherundertakings .
Account15-Long-Term Loans
Commitments toStaffPensionFunds 925.4
LoanstoRailwayFinanceLtd. 40.6
Others 4.0
Liabilities
Account01-Reserves970.0
Accounts 20and21-Stocks
Stocksinstore 209.8
Lessprovisions accountedfor -22.9
186.9
Capitalreserves 412.5
Generalreserve 50.1
462.6

-73-
Account03-Provisions
GeneralObsolescence Provision 30.7
InternalInsuranceProvision 9.1
39.8
Account04-FundsforStaff
DebtstoStaffPensionFunds 925.3
Savingsbank 20.6
945.9
ThesumofUKL925.3mioisthecontraoftheequivalent amountinclu­
dedinaccount15,sinceBRBhastherighttoreimbursement ofthisdebtby
theState.
Account31-Creditors
Interestdueoncapitalliabilities tosecretaryofstate11.0
Creditors anddebtsoutstanding 383.5
394.5
III.ProfitandLossAccount
Expenses
Account60-StaffCosts
Themainiteminthisaccountisgrossstaffcostswhichinclude
Salariesandwages 1160.8
Employer'sliabilityfor:
-NationalInsurance 110.8
-Pensionfundcontributions etc. 98.2
Clothing 7.0
1376.8

-74-
Account61-MaterialSuppliedandServicesPerformedbyThirdParties
Account62-TaxesandDues
Astandardrateof15%isappliedtoallpositively ratedrailway
traffic.VATisincludedinthecostofmostservicesperformed bythird
partiesandalsoonthecostofsuppliesandequipment.
Everythreemonthsasettlement ofthedifferences betweentheVAT
collected andthatpaid.TheVATisdealtwiththroughasuspenseaccount
systemandisnotincludedinthepublishedaccounts.
Account65-Financial Charges
InterestpayabletoGovernment 36.9
Otherinterestcharges 20.7
Leasingcharges 4.2
Othercharges 1.1Fuelandpower
Materials,suppliesandservices
Tobechargedtothirdparties136.7
717.3
161.5
1015.5
62.9
Revenue
Account70.0-Passenger andLuggageTraffic
(a)Rail
Passengerfares
Stationcatering
Traincatering799.4
38.5
17.9
855.8
(b)Road
(c)OtherMeansofTransport
Ships
Hovercraft96.3
12.4
108.7

Account70.1-GoodsTraffic
International trafficincludesonlywagontrafficusinggerries,
i.e.trafficcarriedbyrailoutsidetheBRBsystem.
Account72-OtherRevenue
Revenuefrom:
Account63-Contreofcosts
Amountrecoveredinrespectofworkdoneforthirdpartiesandthe
costofworkchargedtocapitalaccountareshowninthisaccount.The
corresponding entriesforexpensesareincludedwithintheirrespective
costheadings.
Account74-Compensation andAid
74.0Compensation forpublicservice
obligations 522.5
74.1Compensations forcrossingfacilities 12.9
74.2Reserarchgrants 2.7RaiIwayworkshops
Ports
Hotels
Non-operational property
Operational property-letting
Transmark
Miscellaneous31.4
20.6
37.9
12.3
27.5
4.5
30.0
164.2

-76-
NORTHERN IRELANDRAILWAYS
COMPANYLTD.(NIR)

BALANCE SHEET TABEL 10*
.„.. . ^30.3.1980 000UKLUndertaking 5*1* at
ASSETS 1979 1978 LIABILITIES1979 1978
LONG-TERM ASSETS
Fixed Assets (Net ) 22097 Capital and reserves
10Land and fixed installations
11Transport stock andequipment13
7363
66711756
809900Capital
01Reserves100
J615 3715100
3336
12Other stock andequipment1067 90302Contribution toinvestment costs18306 17348
13Fixed assets under construction• "03Provisions
Other fixed assets
14Shareholdings inother undertakings
15Long-term loans
16Cost offloating loans andloan redemption
premi urns- -04Funds for staff
05Long-term financial debts
-debentures
-State loans
-other financial debts100100
100
17Miscellaneous fixed assets - -
Sub-total 22097 20758 Sub-total22121 20904
CURRENT ASSETS
Stocks
20-21 (Instore orbeing manufactured ) 393 298
Realizable assets 2514
30Debtors 2514 1780
41Loans repayable within
one year- -
42Bills receivable
45Securities- -Current liabilities
31Creditors1790 1739
Bank balances and cash 40Financial debts ofless than one-year
_
43-46-47-48Cheques inhand ,postal cheque accounts ,
bank accounts ,cash inhand(1084 ) (189)term
44Bills payable- -
Sub-total1823 1889 Sub-total1790 173»
Results Results 9
06.1 Losses forprevious financial years - - 06.0 Profits forprevious financial years 4-
07.1 Loss for thefinancial year 26 07.0 Profit for the financial year S 30
Assets :Total 23920 22673Liabilities :Total 23920
s::3S!3»sa :22673
i
- "Ni
"Ni

PROFIT ANDLOSSACCOUNTTABEL IQb
I.GENERALOPERATION 1.4.1979/
Undertaking :N]g 000UKL YeaJ1;3.1980
EXPENSES1.4.1979/
31.3.19801.4.1978/
31.3.1979REVENUE 1.4.197»/31.3.19801.4.1978/
31.3.1979
60.Staffcosts
61.Materialsuppliedandservicesperformed
bythirdparties
62.Taxesanddues
63.Allocations fordepreciation
64.Allocations toprovisionaccounts
65.Financialcharges4259
2692
22
;628
243546
2138
22
596
270.Trafficrevenue
0.Passenger andluggagetraffic
a)byrail
b)byroad
c)byothermeansoftransport
1.Goodstraffic
a)byrail
i)fulltrainsandwagonloads
-nationaltraffic
-international traffic
ii)partloadsandparcels
-nationaltraffic
-international traffic
b)byroad
c)othermeansoftransport
2.Postaltraffic
Sub-total
71.Financial revenue
72.Otherrevenue
73.Contraofcostsbookedtoother
accounts
74.Compensations andaidsreceivedunder
0.Regulation (EEC)N°1191/69
1.Regulation (EEC)N°1192/69
2.Regulation (EEC)N°1107/70,Article3
3.Othercompensations andaids
Sub-total599
599
773
748
252818
2818
Τ372
1372
17
4207
5
535
2431
53
394
28782240
'
515
627
26
15
3423
27
579
1895
32
348
2275
Totalexpenses7625 6304Totalrevenue7625 6304
91.0Operatingprofitforthefinancialyear- -91.1Operatinglossforthefinancialyear- -
II.PROFITANDLOSSSUMMARY
91.1Operatinglossforthefinancialyear
91.3.Exceptionallosses
91.4Corporation tax<S> 2691.0Operatingprofitforthefinancialyear
91.2Exceptional profits
91-.5Balancingsubsidy
-Regulation (EEC)N°1107/70,Article4
-Other--
91.6ProfitforthefinancialyearS 91.7Lossforthefinancialyear
I
-sj
oc

-79-
NIR-ANNUALACCOUNTS CLOSEDON29MARCH1980
Explanatory Notes
FiguresaregiveninthousandsofUKL.
1.BasisofAccounting
Accountsarepreparedonthehistorical costbasisofaccounting,
wherebyitemsarerecordedattheirvaluesonthedateswhentheywere
acquiredorrevalued,theliabilities wereincurredorthecapitalobtained.
2.FixedAssets
Fixedassetstransferred totheCompanyonthe1stApril1968are
includedasvaluedon29March1970andotherassetsatcost.
3.Depreciation
Depreciation isnotchargedonexpenditure onassetsnotyetinuse.
Withtheexceptionofsignalling,bridgesandpermanent way,depreciation
offixedassetsischargedsoastowritethemoffovertheirexpecteduse­
fullivesatcost.Inthecaseofsignalling andbridges,expenditure is
writtenoffintheperiodinwhichitisincurred.
Depreciation ischargedagainstreserves (account64)inrespectof
allassetsothersthantwoitemsofplantandmachinery onwhichdepreciation
ischargedtoprofitandlossaccount63.
4.Stocks
Thebasisofvaluationisthelowerofaveragecostorestimatedreali­
zablevalue.Thestocksincludeengineering materials andstoresoffueland
oiI.
5.Corporation Tax
AnamountofUKL5000ispayabletoGroupCompaniesinrespectofan
over-provision forGroupTaxationReliefinthepreviousyear.

-80-
Account 64-Allocation toprovision account
Depreciation toreserve account 121
Fixed assets replacement reserve 507
628
Account 72-Other revenue
Surplus ondisposal offixed assets 121
Catering 180
Other receipts 44
Oncost 190
535

SUMMARY OFTHETRANSPOSED BALANCE SHEETS
(1979) (inmio,nationalcurrency)
SNCB DSB DB SNCF CIEFS(1)CFL NS BRBNIR(2)
ASSETS
Long-termassets 834397795514446503981,16303313447272123,622097
-Fixedassets 692407785488516234881,15977308332221151,622097
-Otherfixedassets 14199 1025932691 0326 511505972,0-
Currentassets 21361 76444551283541,22569 2034632427,3 1823
-Stocks 7695 415 1038227021,9 797 528184186,9 393
-Realizable assets 12257 3142377987418,0 874 1492384228,52514
-Bankbalanceandcash 1409 351030 6911,3898 236411,9(1048)
Cumulative results 4815-818748307,68632 134 310,4-
(losses)
Total 10961585596407682704129,917504 531153902551,323920
LIABILITIES
Capitalandreserves 486978039296164378338,34603 294630741448,322021
Long-termdebts 42000-310312182848,910412 11371744546,4 100
Currentliabilities 18639 52034291698542,72489 1228572514,6 1790
Cumulative results 279– - 108mt - - -42,0 9
(profits)
Total 10961588596407682704129,917504 531153902551,323920
(1)inmrdLIT
(2)inOOOUKL

SUMMARY OFTHEPROFITANDLOSSACCOUNT(1979) (inmio,nationalcurrency)
SNCB DSB DB SNCF CIE FS(1)CFL NS BRBNIR(2)
REVENUE
Trafficrevenue 2249423421417522959102,2 1253 1834 11171628,34207
-passenger 7989 13734486930573,7 751 232 772964,52818
-goods 14045 90493311328027,4 501 1602 314622,9 1372
-postal 460 65 358 3741,1 1- 3140,9 17
Financial revenue 349 6161 311- 26 52 12·;3,9 5
Otherrevenue 7940386 1549208910,5 149 111 75164,2 535
Contreofcosts 10128 -.4468 146314,9 508-215231,6–
Compensation andaids 42959 100980831254856,0 17053698 866538,12878
-Regulation 1191/69 19352 7823026380417,1 806 1629 769522,52431
-Regulation 1192/69 13493 123957 4403,8 416 1428 4312,9 53
-Regulation 1107/70,art.3 10114 215 82347219,5-641-2,7–
-Others- - 1018 15320,1- - - -394
-Regulation 1107/70,art.4- - -330015,5 483- 54- –
Extraordinary items 358- 42 1432- 49- - - –
Lossoftheyear- -3576-2,2 1217 107 310,4–
Total 8422837433205440802185,8 4907580223162566,57625
EXPENSES
Staffcosts 5165122281877023306105,1 26124561 14161376,84259
Material+thirdparties 19567 99389541096459,7 1345 459 5191015,52692
Taxes 51 - 92 4885,4 95 55 50,1–
Depreciation andprovisions 8609 187 182033599,9 434 560 335109,4 650
Financialcharges 4071 3352394 22885,0 420 167 41'62,9 24
Extraordinary items- - 24 2900,7 1- 1,8 (5)
Profitoftheyear 279 -. - 108- - - – 5
Total 8422837433205440802185,8 4907580223162566,57625
(1)mrdLIT
(2)000UKL
ι
00rj

-83-
PARTII
1.Factorspreventing harmonization andcomparability ofrailwayaccounts
areoftwotypes:
-organizational /structuraldifferences betweenundertakings
-differingaccounting normsandpracticesusedbyundertakings .
2.Thestructural impediments aremanifestintheconsiderable differences
whichexistinthefieldofState/Railwayrelationships .Certainrail­
waysandtheiraccounting systemsareintegralpartsoftheStateAdministration
(DenmarkandItaly)whilstothershaveacooperateentitydistinctfromthe
State(Netherlands,UK,Ireland)andaremoresubjecttothedisci­
plineofindustrial andcommercialpractices.Thepurposeandroleof
railwayundertakings differfromMemberStatetoMen-berStatewith
consequentimplications forthedegreeofStateintervention andfinancial
assistance .Thereexistmajordifferences inlegalandfinancialstruc­
tures.Certainrailwaysowntheirinfrastructure -UK,Ireland,Netherlands -
whilstothersaregrantedconcessions tooperaterailwayservicesfor
limitedperiodsonStateownedinfrastructure -Belgium,France-andare
responsible onlyformaintenance oftheinfrastructure .Differences exist
astothecorporateactivities andservicesprovidedbyrailwayunder­
takings.BRBisamulti-modal,multi-activity organization ,asisCIE,
whilstCFLissimplyaprovideroftransportservices.
3.Thesefundamental differences impedebothharmonization ofaccounting
systems(i.e.practices,procedures andmethods)andinhibitstrictcom­
parisonsbetweentransposed accountspresented.Itisfurtherconsidered
thatRegulation 2830/77isnotasuitableinstrumenttoresolvethese
differences .Thiscanonlybeachievedwithinthecontextofthewider
railwaypolicypursuedandlegislative provisionsexistingorenvisaged.
4.TheAdvisoryCommitteeconsideredthatprogresscouldbestbeachieved,
intheshortterm,byimprovingcomparability oftheaccountingmaterial

-84-
available.Previousreportsandworkhaveprovided asoundbasisforimprov­
ingcomparability andclarifying theissuestobesolved-depreciation
principles andmethods(SeeAnnexeI),deficitcoverage,normalization
procedures .TheCommission considersthatgreatercomparability cannow
beattainedbyimprovingtheexplanatory notestotheaccounts.Tothis
endtheCommission suggested waysandmeans,generallyacceptedbythe
Committee,bywhichtheexplanatory notescouldbeexpandedoverand
abovethebasicrequirements specifically laiddownintheregulation .
5.Thesuggestions canbesummarized as:
(a)Comprehension ,transparency andcomparative analysisofBalanceSheet
datawillbefacilitated by:
(i)inclusionofdetailsofcompaniesinwhichrailwayshavea
shareholding ,withremarksandinformation ontheextentof
thoseshareholdings andloansmade;
(ii)statement showingmovementsovertheyearinfixedassetsand
stocks;
(iii)statement onsourcesandapplication offunds;
(iv)provisionoffulldetailsonstockbreakdown andvaluation
methodsused.
(b)Understanding ,transparency andcomparative analysisofProfitandLoss
Accountwillbefacilitated by:
(i)inclusion ofdetailedbreakdowns ofstaffcosts.Cleardistinc­
tionsshouldbemadebetweenremuneration ofstaffinactive
employment,directpensionpayments,contributions paidbyunder­
takingsonbehalfofemployeestoautonomous pensionfundsand
miscellaneous socialcharges;
(ii)detailsonstructure andcostofworkforce;
(iii)breakdownofexpenditures inthedifferentdefinablebusiness
sectors(suggestedbreakdown asperAccount70);

-85-
(iv)detailedbreakdownofmaterialssuppliedandservicesperformed
bythirdparties(Account61)andcontraofcostsbookedtoother
accounts(Account73);
(v)usingtheprovisionsofthe4thDirectiveonAccounting (1)concerning
theuseof"set-offs"whencompilingaccounts;
(vi)specification ofthenatureofcompensation paidunderEECRegulat­
ionNo1191/69onpublicserviceobligations,No1192/69onnormaliz­
ationofrailwayaccountsandNo1107/70onaidstotransport.
6.Thesesuggestions,itismaintained,wouldfacilitatetheestablishment of
reliablecomparativeindicatorsfromwhichwoi|ldberemoveddistorting
factors(e.g.directpensionpayments,capitalsupport,etc.).Itis
consideredthatthisapproachwillalsofulfillthemandateformore
comparative accountingdatalayeddowninRegul9tion2830/77without:
-prejudicingtheautonomyofrailwaymanagements (Art.IIofDecisionof
May1975);
-infringingtheprovisionsofthe4thDirectiveonAccountingwhichis
directlyapplicabletofouroftheundertakings ;
-requiringchangesinnationalaccountingpracticesandconventions,
andrespectingtheprinciplesofindustrialandcommercial
accountingpracticeasprovidedforinArticle7ofthe1975Decision(2)and
indeedthespiritandpracticeofthatDecisionandCommunityrailwaypolicy.
7.AnAnalysisoftheTransposedAccounts,intheformpfcomparativeindicators,
willinfuturebecontainedintheBiennialReportontheeconomicandfinancial
situationofrailwayundertakings .Howeverconsideration isbeinggivento
determinewhatadditionalinformation couldbeincludedinthisreport.
(1)0JN°L222Vol.21of14/8/1978
(2)0JN°L152/3of12/6/1975
o Ρ