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COM (84) 188 
 
 
 
 
Vol. 1984/0 067 
  
 
Disclaimer  
Conformém ent au règlement (CEE, Euratom) n° 354/83 du Conseil du 1er février 1983 
concernant l'ouverture au public des archives historiques de la Communauté économique 
européenne et de la Communauté européenne de l'énergie atomique (JO L 43 du 15.2.1983, 
p. 1), tel que modifié par le règlement (CE, Euratom) n° 1700/2003 du 22 septembre 2003 
(JO L 243 du 27.9.2003, p. 1), ce dossier est ouvert au public. Le cas échéant, les documents 
classifiés présents dans ce dossier ont été déclassifiés conformément à l'article 5 dudit 
règlem ent. 
In accordance with Council Regulation (EEC, Euratom) No 354/83 of 1 February 1983 
concerning the opening to the public of the historical archives of the European Econom ic 
Communit y and the European Atom ic Energy Communit y (OJ L 43, 15.2.1983, p. 1), as 
amended by Regulation (EC, Euratom) No 1700/2003 of 22 September 2003 (OJ L 243, 
27.9.2003, p. 1 ), this file is open to the public. Where necessary, classified documents in this 
file have been declassified in conformity with Article 5 of the aforementioned regulation.  
In Übereinstimmung mit der Verordnung (EWG, Euratom) Nr. 354/83 des Rates vom  1. 
Februar 1983 über die Freigabe der historischen Archive der Europäischen  
Wirtschaftsgemeinschaft und der Europäischen Atomgem einschaft (ABI. L 43 vom  15.2.1983,  
S. 1), geändert durch die Verordnung (EG, Euratom) Nr. 1700/2003 vom 22. Septem ber 2003  
(ABI. L 2 43 vom  27.9.2003, S. 1), ist diese Datei der Öffentlichkeit zugänglich. Soweit  
erforderlich, wurden die Verschlusssachen in dieser Datei in Übereinstimmung m it Artikel 5  
der genannten Verordnung freigegeben.  
COMMISSION OF THE EUROPEAN COMMUNITIES
COM(84) 188 final
Brussels, 3 April 1984
Fifth Commission Report to the Council 
on the Transposed Annual Accounts 
of Railway Undertakings 
1981
COM(84) 188 final

SYNOPTIC REPORT ON ACCOUNTS
INTRODUCTION
1. Article 5 of Regulation (EEC) No. 2830/77 provides that Railway 
Undertakings shall within 12 months of the end of the accounting 
year in question transmit to the Commission their transposed 
accounts. Six months after their receipt "the Commission shall 
submit a synopsis of Z±he transposed account§7 to the Council".
2. The Commission's services prepared a working document for discussion 
within the Advisory Committee established to assist the Commission 
in the implementation of this Regulation.
The Committee is charged to give its opinion on any questions relating 
to the problems and solution thereof connected with improving the 
comparability of the transposed annual accounts of railway undertakings 
and making progress towards greater harmonization of their accounting 
systems.
A meeting was held on 6 October, 1983.
The synoptic report on the 1981 Transposed Accounts takes account of 
the Committee's opinions.- 1 -

- 2 -
Commentary on the Accounts and Developments
1. The transposed accounts and explanatory notes submitted by the railway 
undertakings are reproduced in full in Annex I to the report.
2. Most railway undertakings have continued to supply the additional informa­
tion requested on sources and application of funds, movement in fixed 
assets and detailed breakdown of personnel numbers and expenditure which 
is proving most useful to the Commission and Member States for evaluating 
the financial situation of railways and changes therein. It is also an 
important contribution to improving the transparency and assessing the 
scale of State interventions. Detailed analyses of the railways' situation 
and State financial support can be found in the Commission's Fourth 
Biennial Report on the economic and financial situation of railways to be 
presented to the Council in December 1983.
3. The Committee suggested that to further improve comparability of the 
accounts the Commission should assure a common interpretation and use 
of accounts 60 and 61 (Staff Costs and Materials supplied and services 
performed by third parties) and Account 73 (Contra of Costs booked to 
other accounts) . The Commission is currently studying this issue with 
a view to complying with the Committee's suggestion.
4. The Commission is studying how further representative comparative 
indicators can be established and how major distortions - pension 
payments, infrastructure aids and ownership/responsibilities - to 
strict comparative figures can be overcome.
5. The Committee considered that an accounting separation between railway 
infrastructure and operations, if desired or desirable, would be 
difficult to achieve. Major difficulties, the Committee advised, will
be agreeing a uniform definition of what constitutes infrastructure given 
that the State/railway relations (ownership and responsibility for the 
infrastructure) vary considerably from one Member State to another.
The issue shall be examined again in the light of the Commission's re­
drafted proposals on financial balance.
6. The Council is invited to take note of this report.
. . ./. . .

ANNEXE I
TRANSPOSED ACCOUNTS
(1981)
///
/i.  t
jJThis annexe comprises the accounts and explanatory notes for all 
the railway undertakings.

SOCIETE NATIONALE DES,CHEMINS DE FER BELGES (SNCB) 
NATIONALE MAATSCHAPPIJ DER BELGISCHE SPOORWEGEN (NMBS)- 1  -

B IL A N ZTABELLE lA
UNTERNEHMEN  : SN C B/N M BS AM 31.12.1981 (.MIO BFR)
AKTIVA 1 1981 1 1980 1 PASSIVA 1 1S81 1 1980
ANLAGEVERMOEGEN 1 1 1
I1
|1
|!
I
SACHANLAGEN (NETTOWERTE)1
1 ! 97378 l
IGRUNDKAPITAL UND RUECKLAGEN 1
!1
)1
l
10 GRUNDSTUECKE UND1
Ì 55748 1 1 45728 100GRUNDKAPITAL 1 11000 i 1 11000
ORTSFESTE ANLAGEN 1 1 1 1 1
11 FAHRZEUGE 1 24008 1 1 17768 101RUECKLAGEN
j —2172 1
■ |13172 2037
12 SONSTIGE ANLAGEN UND1
1 1611!
1!
1 2955 102BA UKDSTENZUSCBUESSE ! 1 51867 ! 41185
FAHRZEUGE 1 1 1 1 FUER INVESTITIONEN 1 1
13 ANLAGEN IM  BAU 1 16011 1 1 15062 103RUECKSTELLUNGEN !
|2030 1
I1040
1 —
i1
1 1 104PERSONAL FONDS 1 11019 1 943
FINANZANLAGEN 1 1 12197 | 1 1 1
1 1 1 105LANGFRISTIGE VERBIND- 1 1 49tibi 1
14 KAPITALBETEILIGUNGEN AN i 796 1 1 325 1 LICHKEITEN 1 1 1
ANDEREN UNTERNEHMEN 1 1 1 1 -  OEFFENTLICHE ANLEIHEN i 42C14 l 36 ti tib
15 LANGFRISTIGE DARLEHEN 1 771 1 841 1
1 1 1 1 -  STAATLICHE ANLEIHEN 1 146 1 3587
16 FMISSIONS-UND RUECKZAHLUNG- 1 307 1 1 308 1 1 1 1
KOSTEN FUER ANLEIHEN 1 1 1 1 -  SONSTIGE LANGFRISTIGE 1 77C1 1 1 6485
17 SONSTIGE ANLAGEWERTE 1 11017 1 1 13425 ! VERBINDLICHKEITEN 1 1
TEIL SUMME1 -
1 1109 575 1 95655 1 TEILSUMME 1j117 949 1103 163
UMLAUFVERMOEGEN1
1
1
11
1
I1
1
11
1
|1
1
11
1
i1
1
1
MATERIAL VORRAETE 1 1
110572 |  
|8845 1
|1
1i1
1
20-21
|I
I1
|1
|1
1i
11
1
REALISIERBARES UMLAUFVERMOEGEN i 1
I22884 |  
l1
l1
1i
30 FORDERUNGEN 1 21924 1
|1
|16403
j1
11
1I
1
41 DARLEHEN M IT EINER LAUFZEIT 1- 1 1 - 1KURZFRISTIGE 1 1 1
VON WENIGER ALS EINEM JAHR 1 1 1 1 1
42 WECHSELVERBINDLICHKEITEN - 1 1 - 131VERBINDLICHKEITEN 31825 1
|20068
45 WERTPAPIERE 9601
!I
1 865 140VERBINDLICHKEITEN VON ! 24521t 1 2027
1- -1 1 1 WENIGER ALS EINEM JAHR 1 l
VERFUEGBARES UMLAUFVERMOEGEN 1
\841 j  
J616 1
|44WECHSEL VERBINDLICHKEITEN 1
11937 1
11
12146
4 3 -4 6 -4 7 -4 8 1 1 1 11 1 1
TEILSUMME1
11-
1 34297 | 26729 1TEILSUMME 1 36214 1
| =24241
ERGEBNISSE 1 1 10291 1 1ERGEBNISSE 1
|1
11
1
0 6 .1  VERLUSTE AUS VORJAHREN 50201
1 ! 4536 1060 GEWINNE AUS VORJAHREN - 1
11
1-
0 7 .1  JAHRESVERLUST 5271I
I 1 484 107.0  JAHRESGEWINN 1 - 1 1
AKTIVA INSGESAMT1-
1154 163 ! 127 404 1 PASSr/A INSGESAMT 1
11154 163 1127 404

GEW INN- UND VERLUSTRECHNUNG
mmmmmm ·. sucamas
I .  ALLGEMEINER BETRIEB MIO BFR JAHR  :  1981
| AUFWENDUNGEN  | 1981 1 1980 | ERTRAEGE 1981 1 1380 1
*  " I
]  60 persqw alaufw endw gen  } 6 1m  i 56222 | 70 VERKERRSERTRAEGE 1 i 1
1  1 1 1 1 9299 1 !
| 61 MATERIAL UND LEISTUNGEN  | 31482 | 25458 | 0.PERSONEN-UND GEPAECKVERKEHR ■ 1 1 1
| DRITTER  1 1 1 A. SCHIENE 19296 ! 8  876 |
1  S 2 STEUERN UND ABGABEN  ! 8 1 24 1 B. STRASSE 1 3 1 2 \
1  1 1 1 C. M IT ANDEREN VERKEHRSMITTELN 1 1 - ;
1  63 ABSCHREIBUNGEN  | 1 « 1 i 1
14!
210 |!
1  111 1.GUETERVERKEHR i 1
|  64 ZUWEISUNGEN AN RUECKSTELLUNGEN  | 9553 1 8190 | A . SCHIENE !14210 1 1
1  1 1 1 I .  IN  ZUEGEN UND WAGENLADUNGEN 11 363 | I !
3  621 ||  65 FINANZLASTEN  1 5737 1 4283 | -  INLANDSVERKEHR 1  3 541 1
1  1 1 1 -  INTERNATIONALER VERKEHR !  7 822 i 1 8 333 i
1  1 1 1 I I .  STUECKGUT 2  847 | 1 !
1 1 -  INLANDSVERKEHR !  2 351 1 t 2 420 !
1 1 -  INTERNATIONALER VERKEHR 496 1 1 480 i
1 ! 3. STBASSE - J ! i
1  1 1 1 C. M IT ANDEREN VERKEHRSMITTELN l
1t
1 j1  1 1
11
1 2.POSTVERKEHR 1
1464 1  
_ _ _|47
6 |
1  1I
1j
1 TEILSUMMEj1
123973 !  
j24 208 !
j1  I 
i  i1
11
171 FINANZERTRAEGE 1
!360 i  
J337 1  
|i  ! 
i 11
11
172 SONSTIGE ERTRAEGE i
|14768 |  
|10 786 i  
{[  1 
1  11
11
i73 GEGENWERT DER ANDEREN KONTEN WEITER- 1 14950 1 13 223 |
1  1 1 1 BELASTETEN AUFWENDUNGEN 1 1 !
1  1 1 174 AUSGLEICHSZAHLUNGEN UND BEIHILFEN!1 1 i
• 1 1 GEMAESS 1 !
1  1 1 1 0.VERORDNUNG {EWG) NR  1191/69 122541 1 20 573 |
1  1 1 1 1.VERORDNUNG {EWG) NR  1192/69 115246 1 14 412 |
1  1 1 2.VERORDNUNG {EWG) NR  1107/70 110515 1 S  774 !
1  I 1 3.ANDERE AUSGLEICHSZAHLUNGEN UND 1 1 !
1  1 1 ! BEIHILFEN 1------  1--------------  1
I 1 TEILSUMME l 48302 I 44 759 |
!  BETRIEB SA  UFVEND UN GEN INSGESAMT  1 108 223 | 94177 | BETRIEB SERTRAEGE INSGESAMT 1 102 353 i 93 313 i
1- - - “ I 
I 91.0 BETRIEB SGEVINN DES  |_1 191.1 BETRIEBSERTRAEGE INSGESAMT 1 5870 [ 864_ !
|  GESCHAEFTSJAHRES  | 1 1 1 1 1
I I .  ZUSAMMENFASSUNG VON "GEWINN UND VERLUST"
|  91.1 BETRIEBSERTRAEGE INSGESAMT  |  
1  91.3 AUSSERORDENTLICHE VERLUSTE  15 870 1  
1864
8391.0 BETRIEBSGEWINN DES  1 
GESCHAEFTSJAHRES  1 
91.2 AUSSERORDENTLICHE GEWINNE  11  1 
1  599 1  
| |!
463 !  
1I ' 
|  91.4 KOERFERSCHAFTSSTEUERN  | 
1  1 
1  11
191.5 ZUSCHUSS ZUM HAUSHALTSAUSGLEICH  |
- VERORDNUNG {EWG) NR  1107/70 i4J?T.4 1
- ANDERE  11
1  91.6 GEWINN DES GESCHAEFTSJAHRES  1
191.7 BETRIEBSERTRAEGE INSGESAMT  1
l|  5 271 |  
!  !484 |  
1

- 4 -
SNCB/NMBS: FINANCIAL YEAR 1981
Explanatory notes
Figures are given in millions of BFR.
BALANCE SHEET 
Assets
Accounts 10 - 13 - Fixed Assets
The fixed assets shown in the Balance Sheet are those acquired since 
1.9.1926, when the SNCB was founded; they are recorded at their purchase value 
and they include both those financed by the railway company and those financed 
by the State; the latter are set off by the Account 02 - Contribution to 
Investment Cost.
The replacement is ensured through the Replacement Fund (Account 03). ' < < ■  
The allocation is calculated to cover industrial depreciation of tracks, equip­
ments, tools, buildings and structures.
It is foreseen to replace this system by a classic method of depreciation
Account 14 - Shareholdings in Other Companies
Shareholdings in affiliated companies 
Shareholdings in other companies 
Other stocks and shares297
497
2
796
(a) reduction of value(a)in 1982.A C C O U N T
Primo value 
+ investments
- sales
- depreciation 
Ultimo value10 11 12 1314
45 844 
9 931 
15 
12
55 74819 141 
6 568 
507 
1 194 
24 0081 465 
175 
29
1 61115 062 
949
16 011324
473
1
796

5
Account 15 - Long-Term Loans
These are all claims vis-à-vis companies in which SNCB has a share­
holding.
Accounts 20 and 21 - Stocks
Raw materials, consumables, supplies
Work in progress
Goods9 676 
868 
28
10 572
The valuations rules are :
- Raw materials, consumables, supplies are valued at their weighted  
average price
- Works in progress are valued at their costs and
- Goods are entered in the books at average price (clothing), at the FIFO 
method (buffets) and at cost of acquisition (night soil).
Account 30 - Debtors
Claims whose term is more than one year arising 
from goods delivered and services rendered
Instalment on purchase to stock
Claims whose term is no more than one year
(a) Arising from goods delivered or services 
rendered
(b) Other claims 
Adj ustments13
5
14 322
3 291
4 293
21 924
Included is 484 mio deficit - and 464 mio debtors of the FOS.11 01715(c) LoanAccount 17 - Miscellaneous Fixed Assets
(a) Railway operating concession
(b) Permanent garanty11 000
2

- 6 -
This account also includes FB 261 mio which is an investment of 
the FOS.
Account 43 - 46 - 47 - 48 - Bank Balance and Cash 
Belonging to the FOS :  FB 93 mio.
Liabili ties 
Account 01 - Reserves
This is the amount credited to the Loan Redemption Fund as at 
31st December 1981. a sum is entered in the accounts each year to replenish 
this Fund.
Account 03 - Provi sions
This account consists of :
- a provision to cover cost of accidents of all kinds,
- a provision for exchange losses on debts longer than one year relative to 
loans in foreign currency. (Devaluation of the FB in February 1982 has not 
been taken into account in the 1981 accounts.)
Account 04 - Funds for Staff
This is a Fund to pay allowances due to staff in connection with 
accidents at work.
Account 05 - Long-Term Financial Debts
The other financial debts break down as follows :
(a) Letting - financing 6
(b) Credit establishments 7 686
(c) Payment in advance 2
(d) Guarantees from connected firms 7
7 701
The debts vis-à-vis companies in which the SNCB has a shareholding 
(Eurofima) amount to BFR 7 686 mio.Account 45 - Securities

- 7 -
Account 31 - Creditors
Debts whose term is more than one year  arising from the purchase of goods and  
servi ces
Debts whose term is no more than one year
(a) Credit establishment
(b) Various debts arising from the purchase 
of goods and services
(c) Debts and provisions for tax, social 
charges and wage payments
(d) Advances received  
Ce) Other loans and deposits received  
(f) Other debts  
Adjustments
31 825
Included for the FOS :  116 mio as debt and 937 mio for actions of which prices are 
not fixed. In the debts where terra is less than one year is included 886 mio as 
loan trum EURO-FIMA6 347 
6 119
8 341
4 473 
39
2 028 
4 462J
Profit and Loss Account
EXPENSES
Account 60 - Staff Costs
1. Staff expenditures
Remunerations
Pensions
Social Assurance 
Other Social Charges38 002 
17 232 
5 700 
509
61 443
2. Staff and staff expenditures
General administration 
Trainees
Operation and traffic 
Rolling stock and machine power 
Ways and works
Others (investment and works for third 
parties)
Normalisations of expendituresmio FB
1 080 
365 
15 113 
12 368 
8 972
9 201 
14 344
61 443Nürnberg
1 456 
891
21 602 
18 091 
13 851
12 602
68 493
After déduction of the State compensation for pensions under reg. 1192/69 
- FB 14 178 mio - the net pension charges are FB 3 054 mio, whereas the staff 
cost net amount to FB 47 099 mio instead of FB 61 443 mio. (Déduction made from 
compensations - renumerations 48 mio
- social charges 118 mio).16

- 8 -
The renumeration can be divided into :
Statutory staff - employees 13 197
- workers 22 860
Temporary staff - employees 352
- workers 1 202
Trainees - employees 259
- workers 127
Board of directors and auditors 5
38 002
The social charges can be divided into :
Family allowance 2 176
Contribution to FOS 1 425
Contribution to ONSS (*) 542
Holiday provisions1 812
Trade union fund109
Industrial accident fund 145
6 209
Account 61 - Material Supplied and Services Performed by Third Parties
Works of third parties 8 862
Materials and other supplies 6 722
Transport materials 7 976
Energy consumption 4 516
Hire1 224
Road transport890
Rent and letting charges117
Mi seel laneous1 175
31 482
(*) Office National de Sécurité Sociale

Account 62 - Taxes and Dues
The total on this account is the sum of :
- VAT on free sales to the personnel of the buffets
- Tax on assets rented to third parties
- Road tax on vehicles
- Registration fees, stamp duty and court registry dues
The VAT is 6 % for transport of passengers and 17 % on goods transport 
(16 % until the 1.7.1981).
Account 64 - Allocations to Provision Accounts
Replacement allocation ? 800
Insurance Fund allocation 230
Provision for exchange Losses on long-term 1 523
debts
9 553
Account 65 - Financial Charges
Charges on debts whose term is more than one year 4 158
Charges on debts whose term is no more than one year 1 110
Miscellaneous financial charges 441
Reductions of creances 28
5 737
Infrastructure expenditures (the figures are the result of the application
of the regulations EEC 1108 and 2 598)
Investment cost
- passengers 7 535
- goods 7 787 15 322
Current expenditures
- passengers 5 281
- goods 5 457 _________ 10 738
To
tal 26 060
This amount disperses into
- personnel 10 452
- materials 4 727
- other cost -i 0 881
26 060- 9 -

- 10 -
REVENUE
Account 70 - Traffic Revenue
These figures are extracted from the accounts. In the case of receipts 
from passenger traffic, some breakdowns based on statistics have been made 
between rail traffic and road traffic.
Account 71 - Financial Revenue 
Revenue from financial assets
Revenue from other claims and bank balances and cash 
Mi seellaneous97
12
252
361
Account 72 - Other Revenue
Services and supplies 
Miscellaneous revenue 
Revenue relating to staff1)12 713 
1 657 
398
14 768
Account 73 - Contra of Costs Booked to Other Accounts 
Internal work relating to the improvement of fixed assets
(a) New fixed assets
(b) Renewals of fixed assets
Net expenses to the Replacement Fund
Net amount charged to the Insurance Fund 
(provisions for accidents insolvency and others)1 239 
5 320 
8 096 
.  295
14
1)This includes sales of clothes, sales in restaurants, administration of FOS 
and the family allocations office

- 11 -
Account 74 - Compensation and Aid Received
74.0. Regulation (EEC) N° 1191/69
Obligation to operate 
Tariff obligation - passengers
- goods20 295 
242 222
20 319
22 541
74,1. Regulation (EEC) N° 1192/69
Retirement payments and pensions 
Social charges, whereof :
(a) Accidents at work
(b) Family allowances
Measures benefiting staff in recognition of 
services rendered to their country
Crossing facilities
Compensation for financial charges14 178
93
25
48
328
574
15 246
74.2. Regulation (EEC) N° 1107/70 (Article 3)
Compensation for :
(a) Infrastructure charges
(b) Financial charges relating to :
(i) Financing the extension of the network
(ii) Financing accumulated deficits and 
overdue renewals
Tax from which the company is exempted
to be deducted4 132
2 129 
4 270
~ 16
The sum of BFR 2 030 mio th the Health Insurance Office (FOS) is ontinna!
compensation not included in the accounts,10 515

-11a-
1 I 471Account 91-2 - Exceptional Profits
The exceptional profits include :
Expenditures
War damage 2 ^ 0
Closing provision _
Revenue
1 )After effects 3 035
Adjustment for overprovision (termination 1/*
of the replacement fond)
The annual accounts 1981 are affected by the Law of 23 July 1981 about 
budget-rulings for State administrations, State enterprises and public 
bodies for the year 1976. In art. 20 hereof the State and the SNCB 
renounce the debts towards each other. This operation is called 
after effects.1 )Breach of contract 3 070
599

Source and Application of Funds Statement 
Year 1981
Source of FundsMioi  FB
Contribution to investment cost 10157
Provi sions1092
Fund for staff76
Long-term financial debts9146
Internally generated
Profit / (Loss)(4378)
16093
Application of Funds
Cost of floating loans and loan redemtion 100
Long-term loans(7)
Purchase of assets
- fixed assets17445
- Miscellaneous fixed assets 2
- Shareholding in other undertakings 492
Securities 95
Working capital
Current assets
- stocks in store and being manufactured 1727
- debitors 5555
- bank balance and cash 225
Current liabilities
- creditors (11548)
- financial debts of less than one year 2027
16093- 12 -

-  1 3  -
DANSKE STATSBANER (DSB)

UNTERNEHMEN  : A S B  
AKTIVABILANZ
AM 31.12.1981  
1980TABELLE T A  
(.MIO DER)
1981 ■  I  ISSO1981 PASSr/A
ANLAGEVERMOEGEN  
SACHANLAGEN  (NETTOWERTE )
10 GRUNDSTUECKE UND '
ORTSFESTE ANLAGEN
11 FAHRZEUGE
12 SONSTIGE ANLAGEN UND  
FAHRZEUGE
13 ANLAGEN IM  BAU
FINANZANLAGEN
14 KAPITALBETEILIGUNGEN AN  
ANDEREN UNTERNEHMEN
15 LANGFRISTIGE DARLEHEN
15 EMISSIONS-UND RUECKZAHLUNG-  
KOSTEN FUER ANLEIHEN  
17 SONSTIGE ANLAGEWERTE
TEIL SUMME
UMLAUF’ /ERMOEGEN
MATERIALVORRAETE
20-21
REALISIERBARES UMLAUFVERMOEGEN  
30 FORDERUNGIN
41 DARLEHEN M IT EINER LAUFZEIT  
VON WENIGER ALS EINEM JAHR
42 WECHSEL VERBINDLICHKEITEN
45 WERTPAPIERE
VERFUEGBARES UMLAUTJERMOEGEN  
43-45-47-48
TEILSUMME
ERGEBNISSE
06.1 VERLUSTE AUS VORJAHREN
07.1 JAHRESVERLUST
AKTIVA INSGESAMT3 836  
2 979  
241
10
4047 056
10
7 066
666
404
54
1 124
8 1904 589  
3 697  
306
10
8  602
526
482
37
1 045
9 647GRUNDKAPITAL UND RUECKLAGEN
00 GRUNDKAPITAL
01 RUECKLAGEN
02 BAUKOSTENZUSCHUESSE  
FUER INVESTITIONEN
03 RUECKSTELLUNGEN
04 PERSONAL FONDS
05 LANGFRISTIGE VERBIND­
LICHKEITEN
- OEFFENTLICHE ANLEIHEN
-  STAATLICHE ANLEIHEN
- SONSTIGE LANGFRISTIGE  
VERBINDLICHKEITEN
TEILSUMME
KURZFRISTIGE
31 VERBINDLICHKEITEN
40 VERBINDLICHKEITEN VON  
WENIGER ALS EINEM JAHR  
44 WECHSELVERBINDLICHKEITEN
TSILSUMME
ERGEBNISSE
06.0 GEWINNE AUS VORJAHREN
07.0 JAHRESGEWINN  
PASSIVA INSGESAMT7 453
612
1198  925
7 459
7 459 8  925
528
194
731 722
8 190 9 647

GEW INN- W D  VERLUSTRECHNUNG TABELLE 23
UNTERNEHMEN  : DSB
I .  ALLGEMEINER BETRIEB MIO DER JAHR ·.  1981
| AUFWENDUNGEN  | 1961 | 1980 ERTRAEGE  | 1981 1 1980 |
| 60 PERSON ALA UFWEND UNG  EN \ 2 798 1 2 456 70 VERKEHRSERTRAEGE  | 1 1l1
j 1 1 1 1856 |
| 61 MATERIAL UND LEISTUNGEN  | 1 570 | 1 281 0. PERSONEN-UND GEPAECKVERKEHR  | 1 1
|  DRITTER  1 1 A. SCHIENE  | 1  1 383 1 1 159 i
|  62 STEUERN UND ABGABEN  1 | - B . STRASSE  | 1 210 1 193 |
i  1 1 C . M IT  ANDEREN VERKEHRSMITTELN  | i 263 1 232 |
1  63 ABSCHREIBUNGEN  1 2 770 1 207 1 1
1  t 1 1. GÜTERVERKEHR  1 1 927 |
|  64 ZUWEISUNGEN AN RUECKSTELLUNGEN  | | - A. SCHIENE  1 1 661 1
j  1 1 I .  IN  ZUEGEN UND WAGENLADUNGEN  | 427 | 1
| 65 FINANZLASTEN  1 403 1 367 -  INLANDSVERKEHR  | 188 1 i 187 |
i 1 1 - INTERNATIONALER VERKEHR  | 239 1 231 |
|  1 1 I I .  STUECKGUT  1 234 | 1
1  1 1 - INLANDSVERKEHR  1 205 1 1 212 |
|  1 1 - INTERNATIONALER VERKEHR  | 29 1 1 23 |
|  I 1 B. STRASSE  1 j 3 1 4 1
1  1 1 C. M IT ANDEREN VERKEHRSMITTELN  | 1
1263 1
1232 |
1  1 
1  I1
1 2. POSTVERKEHR  1 1
I90 i 79 |
1  1 
1  11
] TEILSUMME  1 1
t2873 |  
|2 557 |
1  1 
1  I1
1 71 FINANZERTRAEGE  1 1
Il i  1
j6 1
1  1 
i i1
72 SONSTIGE ERTRAEGE  1 1
|457 l
1384 |
1  1 l
i 73 GEGENWERT DER ANDEREN KONTEN WEITER-  1 1 1 i
1  1 1 BELASTETEN AUFWENDUNGEN  1 1 1
I 1 1 74 AUSGLEICHSZAHLUNGEN UND BEIHILFEN  | 1 1
I 1 1 GFMAESS  1 1 I
1  1 1 0. VERORDNUNG (EWG) NR  1191/69 1 1  1 410 1 123 !
1  1 1 1. VERORDNUNG (EWG) NR  1192/69 1 1 14 1 13 1
1  1 1 2. VERORDNUNG (EWG) NR  1107/70 1 1 241 1 228 |
1  1 1 3. ANDERE AUSGLEICHSZAHLUNGEN UND  | 1  2 535 1 - |
1  1 1 BEIHILFEN  1 1 —  1
1  1 1 TEILSUMME  1 1 4200 | 1 364 ]
| BETRIEBSAUFWENDUNGEN INSGESAMT  | 7 541 | 4 311 BETRIEBSERTRAEGE INSGESAMT  1 1 7541 i 4 311 1
|  91.0 BETRIEBSGEWINN DES  | - 91.1 BETRIEBSERTRAEGE INSGESAMT  1 1 1 i
|  GESCHAEFTSJARRES \ 1 1 1
I I .  ZUSAMMENFASSUNG VON "GEWINN UND VERLUST"
|  91.1 BETRIEBSERTRAEGE INSGESAMT |  
1  1 
1  91.3 AUSSERORDENTLICHE VERLUSTE  |1  -  |  91.0 BETRIEBSGEWINN DES  1  1  - 1  -  1  
| | GESCHAEFTSJAHRES  1  1  1  j  
1  -  1  B i. 2 AUSSERORDENTLICHE GEWINNE  |  1  1  *  
| |  |  | | |1  1
1  91.4 KOERPERSCBAFTSSTEUERN  | 
1  1 
1  1| - |  91.5 ZUSCHUSS ZUM HAUSHALTSAUSGLEICH  |  1  1  ]  
|  | - VERORDNUNG (EWG) NR  1107/70 ART .4 |  1  1  *
|  | - ANDERE  1  1  1  '
1  1 
| 91.6 GEWINN DES GESCHAEFTSJAHRES  1 
1  1I | 91.7 BETRIEBSERTRAEGE INSGESAMT  1  1  1  *
1  1  1  1  I I

- 16 -
DSB - Financial year 1981 
Explanatory Notes
Figures are given in millions of DKR.
I. Balance Sheet
Accounts 10 - 15 - Assets
In accordance with the national standard accounting procedure the 
costs of fixed assets under construction are included in Accounts 10 - 12«
Accounts
10 11 12
Primo value 4589 3697 306
+ Investments 493 786 100
- Sales 105 25 15
- Depreciation 66 157 11
- Fxtraord. depreciation 1075 1322 139
Ultimo value 3836 2979 241Total
8 592
1 378 
144 
235
2 535
7 056
Accounts 20 and 21 - Stocks
Stock valuation is based on current prices
Initial stocks 
Purchases
Own production of goods in stock 
Avai lable
Final stock at average prices 
recorded
Revaluation of final stock 
at current prices
Consumption of goods entered 
in the books
Of which fuel for diesel loc. 
and ferries674
85
600
661981
526
759
1 285
666
519
366
(59,1 %)521
68
479
471980
415
589
1 004
526
478
265
(55,5 %)

- 17 -
Liabi Lities
The capital is built up through annual state contributions to 
investments.
II. Profit and Loss Account 
Account 60 - Staff Costs
This account includes OSB's contributions to pension costs for all 
staff in employment.
The pensions paid to retired DSB staff are covered by the State budget
Staff expenditure relating to fixed assets is entered under the rele­
vant assets accounts.
Staff and staff costs 1931
1. Wages (excl. ATP1)) 2 527
ATP1) (4704-05) H1980
2 224 
132)Special payments 192 153
Official journeys and travel 65
Staff cost (operations) 2 798
Wages (engineering works) 15657
2 457 
141
Total staff costs 2 954 2 598
2. Administration and training 405 330
Operation proper 1 501 .. 1 368
Repair and maintenance
(rolling stock) 255 217
Repair and maintenance
(land and fixed installations 272 238
Sales, work for third parties, etc. 365 304
Staff costs (operation) 2 798 2 457
Number of staff on 1st January 1982 : 20 734
Number of staff on 1st January 1981 :  19 899
Average number of staff in 1981 : ca 20 300
Average staff cost per employee : 145 000 DKRT 5ATP :  wageearners' supplementary pension2) .  .  .  ... .......Sp
ecial payments : night pay, Sunday and holiday payments, etc.

- 18 -
Account 62
The ingoing VAT on the national passenger traffic is included in 
Account 61.
The VAT on the national freight traffic is compulsory but the income 
on goods -> Account 70.1. - excludes the collected VAT which is booked 
separately. Investment in assets for the passenger traffic shall bear the 
ingoing VAT (included in Account 10 - 12) whereas for assets in the goods 
sector the VAT can be repaid.
Account 63 - Allocations for Depreciation
Up to and including 1981 depreciation was on a straight-line basis, 
with various rates of depreciation (see accounts 10 - 13). As from 1982 
the balancing method will be used as follows :
Depreciation group Depreciation % Depreciation period
years
Land 0 (0)
Permanent way, superstructure, roads, 
buildings, port installations, etc.
Safety installations
Rolling stock
Ferries
Fixtures
EDP-equipment
Motor vehi c'es
In () figures used on the straight-line method.
In 1981 there was an extraordinary depreciation of DKR 2 535 million in 
connection with the transition from straight-line to balance depreciation. As a 
result, invested capital has been written down to the level which would have 
applied if the balance method and the corresponding depreciation percentages 
had still applied.2.5(0.75) 100(133.33)
14.0(3.0) 15(33.33)
9.0(2.5) 25(40)
11.0(2.5) 20(40)
14.0(3.0) 15(33.33)
37.5(3.0) 5(33.33)
21.0(15.0) 10(6.67)

- 19 -
Account 65 - Financial charges
Tangible assets, which are part of the capital invested in DSB by the 
State, bear interest at 4.5. %. As from 1982 the interest rate will be 9.0 %.
DSB's current account with the Finance Ministry (Account 40) bears 
interest at 3.5. %.
Account 70 - Traffic Revenue
Much of DSB's traffic revenue cannot be apportioned between the various 
modes of transport. There is no separate pricing for ferry crossings which are 
part of a passenger or freight transport, for road haulage or for some bus 
services.
The carriage of private cars and goods vehicles, and ferry crossings 
where passengers are not travelling by train are shown in accounts 70.0 c) 
and 70.1 c). The revenue shown in accounts 70.0 b) and 70.1 b) is from the 
carriage of passengers and small parcels by DSB buses and contractors
Account 74 - Compensation and Aid 
Regulation (EEC) N° 1191/69
- passenger transport 956
- freight and mail 454
Regulation (EEC) N° 1192/69 ~ Class XI - 14
Allowances to staff
Regulation (EEC) N° 1107/70 - Infrastructure Cost
This amount is compensation for interest charges and amortization on loans 
of fixed installations which the other modes do not bear.
Since 1st April 1978, the Metropolitan Council (MC) has assumed financial 
responsibility for certain railways in the Metropolitan area. The MC refunds 
to DSB the costs which the latter has incurred with these railways, and in 
return receives the passenger revenue from local trips on the railways. The 
/operating costs incurred on behalf of the MC are included in DSB's total 
costs, while the reimbursement of these costs by the MC is included as 
revenue under 70.0.a.

The regional and local authorities outside the metropolitan area will 
assume financial responsibility for bus services in the period 1980-83 as and 
when regional transport companies for regional and local bus services are set up>
DSB (and other carriers) will in future operate as contractor for the 
regional transport companies. Bus services on a contract basis accounted for 
64.9 % of DSB's total bus services in 1981.
The operating expenditure on bus services on a contract basis is included 
in DSB's total costs, while the payments from the regional and local autorities 
for these services are included as revenue under 70.0.b.- 20 -

- 21 -
Sources and Applications of Funds 1981
mio DKR
Sources of funds
1 4
0Increase in equity of shareholder
Funds for staff
Long-term financial debts
Payments from local and regional authoritiesand reimbursement by the MC 130
Sales of fixed assets  
Sales of securities  
Operation surplus
Ordinary depreciation 235
Extraordinary depreciation 2 535
2 914
Application of Funds
2 914OtherDecrease in equity of shareholders  
Repayment of long-term financial debts1 466
Purchase of assets
- fixed assets
- shareholdings in other undertakings1 378
Working capital
Current assets - increase / (decrease)
- stocks in store and being manufactured
- debtors
- securities
- bank balances and cash
Current liabilities - (increases) / decreases
- creditors
- financial debts of less than one year140
(78)
17
(84)
75

- 22 -
DEUTSCHE BUNDESBAHN CDB)

UNTERNEHMEN  :  DBB IL A N Z
AM 31.12.1981TABELLE ZA
{.MIO DM)
AKTIVA 1981 1 1980 PASSIVA 1981 1 1980
ANLAGEVERMOEGEN 1 1I
|1
1
SACHANLAGEN  (NETTOWERTE)1
1 51970 | GRUNDKAPITAL UND RUECKLAGEN 1
l1
1
10 GRUNDSTUECKE UND 321
680 ( 1 31 700 00 GRUNDKAPITAL 19164· | I
118852
ORTSFESTE ANLAGEN  
11 FAHRZEUGE 131
603 11
1 13 615 01 RUECKLAGEN 2891 1 22055 |
j3757
12 SONSTIGE ANLAGEN UND  
FAHRZEUGE
13 ANLAGEN IM  BAU2
31
120 1  
567 |1
1
1
1
I2 107
3 05102 BAUKOSTENZUSCHUESSE  
EUER INVESTITIONEN
03 RUECKSTELLUNGEN1
1
1
16697 |
1
348 |  
16130
257
1 1 04 PERSONALIONDS 1 - 1 -
FINANZANLAGEN 1
12794 |  
105 LANGFRISTIGE VERBIND-1
1 341
444 |
14 KAPITALBETEILIGUNGEN AN  
ANDEREN UNTERNEHMEN
15 LANGFRISTIGE DARLEHEN 2473 1
1
188 |  
11
1
1
1462 
2 254LICHK3ITEN
-  OEFFENTLICHE ANLEIHEN
-  STAATLICHE ANLEIHEN141
573 1  
1 
11
1
1
!14202
16 EMISSIONS-UND RUECKZABLUNG-  
KOSTEN EUER ANLEIHEN
17 SONSTIGE ANLAGEWERTE_133 |  
1 
11
1
1129
-  SONSTIGE LANGFRISTIGE  
VERBINDLICHKEITEN191
871 |  
11
1
118414
TEILSUMME 1 54764 | 53 318 TEILSUMME 1 63544 | 61622
UMLAUFVERMGEGEN1
1
I1
1
11
1
11
1
1
MATERIALVORRAETE 1
I1069 1  
l1 078 1 1
1
20-21 I
J1
J1
11
1
REALISIERBARES IM LA UFVERMOEGEN 1
j2393 |  
|1
11
1
30 FORDERUNGEN 2236 |
i1
I2 104 1
11
1
41 DARLEHEN M IT EINER LAUFZEIT 157 | 1 152 KURZFRISTIGE 1
|1
lVON WENIGER ALS EINEM JAHR  
42 WECHSELVERBINDLICHKEITEN -1
i1
1 - 31 VERBINDLICHKEITEN 3286 |  
|1
13060
45 WERTPAPIERE -1
11
1
j0 40 VERBINDLICHKEITEN VON  
WENIGER ALS EINEM JAHR  
44 WECHSELVERBINDLICHKEITEN331 |  
11
1281
VERFUEGBARES UMLAUFVERMOEGEN i
|1286 1  
|1 130- 1
11
1“
4 3 -4 6 -4 7 -4 8 1 11
TEILSUMME1-
1 4748 i 4 464 TEILSUMME 1 3617 | 3341
ERGEBNISSE 1 7649 |  
|ERGEBNISSE 1
11
1
0 6 .1  VERLUSTE AUS VORJAHREN 31
605 1 1 3 576 0 6 .0  GEWINNE AUS VORJAHREN - 1
11
1
0 7 .1  JABRESVERLUST 41
044 1 1 3 605 0 7 .0 JAHRESGEWINN - 1 i -
AKTIVA INSGESAMT 1 67161 1 64 963 PASSIVA INSGESAMT 1 67161 1 64963
1  —— -------- 1----_ —  —  —  _ —  —

GEWINN- UND VERLUSTRECHNUNGTA3ELLE  3B
UNTERNEHMEN  :  DB
I .  ALLGEMEINER BETRIEB  
ERTRAEGEMIO EM  
1981JAHR  : 1931  
1980AUTJENDUNGEN  
60 PERSONAL AUFWENDUNGEN1981  
20 605  
9 646  
122
1 892
2 7131980  
19 841  
9 754  
92
1 833
2 39461 MATERIAL UND LEISTUNGEN  
DRITTER
62 STEUERN UND ABGABEN
63 ABSCHREIBUNGEN
64 ZUWEISUNGEN AN RUECKSTELLUNGEN
65 FINANZLASTEN70 VERKEHRSERTRAEGE
0. PERSONEN-UND GEPAECKVERKEHR
A . SCHIENE
B. STRASSE
C. M IT ANDEREN VERKEHRSMITTELN
1. GUETERVERKEHR
A . SCHIENE
I .  IN  ZUEGEN UND WAGENLADUNGEN
-  INLANDSVERKEHR
-  INTERNATIONALER VERKEHR  
I I .  STUECKGUT
-  INLANDSVERKEHR
-  INTERNATIONALER VERKEHR
B. STRASSE
C. M IT ANDEREN VERKEHRSMITTELN
TEIL SUMME2. POSTVERKERR
71 FINANZERTRAEGE
72 SONSTIGE ERTRAEGE
73 GEGENWERT DER ANDEREN KONTEN WEITER­
BELASTETEN AUFWENDUNGEN
74 AUSGLEICHSZAHLUNGEN UND BEIHILFEN  
GEMAESS
0. VERORDNUNG {EWG) NR  1191/69
1. VERORDNUNG {EWG) NR  1192/69
2. VERORDNUNG {EWC) NR  1107/70
3. ANDERE AUSGLEICHSZAHLUNGEN UND  
BEIHILFEN
TEILSUMME4 610  
2 555
1 265  
957 165
1 3604 575  
673 
50
8 525
1 18
1 1
3 478
4 514
94
9765 258
9 724
430 
15 452  
267 
i  801  
4 566
9 0624 216  
608 
47
4 505  
2 637
1 262  
92 
1 177  
11
402
14 957
178
1 723
4 645
3 287
4 496
69
987
8 839  
30 342  
3 572BETRIEBSAUFWENDUNGEN INSGESAMT 34 97 8 33 914 BETRIEBSERTRAEGE INSGESAMT  
9 1 .1 BETRIEBSERTRAEGE INSGESAMT31 148  
3 830 9 1 .0  BETRIEBSGEWINN DES  
GESCRAEFTSJ ABBES
I I .  ZUSAMMENFASSUNG VON ~GEWINN UND VERLUST "
| 9 1 .1  BETRIEBSERTRAEGE INSGESAMT  |  
1  1 
1  9 1 .3  AUSSERORDENTLICHE VERLUSTE  |3 830 |  
1
266 |3 572  
459 1 .0 BETRIEBSGEWINN DES  1 
GESCHAEFTSJARRES  I 
9 1 .2 AUSSERORDENTLICHE GEWINNE  ! 1  53 |  
| |1
16 1  
11  1 
I 9 1 .4  KOERFERSCSAFTSSTEUERN  | 
1  1 
1  I1
1 | 
1 
14 9 1 .5 ZUSCHUSS ZUM HAUSHALTSAUSGLEICH  |
-  VERORDNUNG (EWG) NR  1107/70 ART.4 |
-  ANDERE  1i
1  9 1 .6 GEWINN DES GESCRAEFTSJ AHRES  |
l 1 191.7 BETRIEBSERTRAEGE INSGESAMT  1
1j 4 044 |  
1  13 605 1

- 25 -
DB - Financial Year 1981 
Explanatory Notes
Figures are given in millions of DM
I. Balance Sheet
Liabilities
Account 00 - Capital
Own capital 19 220
Contributions from the State to cover losses
carried over 396
Less State loans to increase the capital
not written off - 452
19 164
Account 05 - Long-Term Financial Debts 
The other financial debts include :
(a) Long-term debts 17 423
(b) Debts of 1 to 4 years 2 448
(c) Part of other liabilities
19 871
Account 05 includes some DM 2226 mio by way of financial debts in/' respect of companies in which DB has a shareholding.
DM 3 042mio are payable in 1981-
J

- 26 -
Accounts 10 to 12 - Fixed Assets
Fixed assets are accounted for at the cost of acquisition or production 
and depreciated on a Linear basis over their useful Lifetime (provision for 
depreciation is shown in the Liabilities side of the Balance Sheet, depreciation 
is shown in item 63 in the Profit and Loss Account). When an asset is disDosed of 
before the end of its normal lifetime the net book value of this asset is 
fully depreciated.
The items break as follows :
Account Nr 10 1112 13 Total
Value first of year 31 700 13 615 2 108 3 051 50 474
+ purchases and additions 2 483 819 3151 657 5 274
- disposals 169 33 121 141 1 355
- depreciations 1 334 798 291 2 423
Walue end of year 32 680 13 603 2 120 3 567 51 970
Account 14 - Shareholdings
Direct holdings in transport and transport relatedcompanies ; :  259 mio
in other enterprises :  214 mio.
Account 15 - Long-Term Loans
Long term loans 1 998
Loans arising from other assets 192
Less valuation adjustment on fixed assets - 2
2 188
Account 15 includes DM646 mio in loans to companies in which DB has 
a shareholding.
Account 16 - Cost of Floating loans and Loan Redemption Premiums
The amount in question is the discount shown in the accounting apportionment 
on the assets side of the DB’s balance sheet.
Account 20 - 21 - Stocks 
Fuel- new 139
- old and waste 12
Stocks to fixed assets - new 750
- old and waste 168151
918 
1 069

- 27 -
Account 30 - Debtors
This account includes :
Advances 5 5
Claim s arising from  transport services,
supplies an d  other services 1 205
Adjustments (assets, less bond issue prem ium s) 9 7 3
Less valuation adjustments to other current assets - 3
2  236
Account 3 1  - Creditors
5This account includes :
Advances 9 7
Transport services, supplies an d  other services 3 1 5 2
Adjustments (liabilities) 27
3 286
Account 40 - Financial Debts of Less than O n e  Y ear T e r m
T h e s u m  of D M  33 1  m io is the remainder of the liabilities.
Account 4 1  - L oans Repayable W ithin O n e  Y ear
T h e s u m  of D M  157 m io is the remainder of the assets.
Accounts 43, 46 to 48 - B a n k  Balances an d  C a sh  
Represent D M  1  286mio.
Account 06-1 - Losses for Previous Financial Years
In principle D B  is obliged to insert its losses in the balance sheet  
until Federal governm ent has decided on coverage. Generally these losses are  
being compensated two years later with capital grants to cover accumulated  
losses or with reserves. F o r these tw o items D B  receives annual paym ents  
above the line.

- 2a -
II. Profit and Loss Account
Account 60 - Staff Costs
This account includes :
Total staff expenditure
Social charges external to the company
Pension charges external to the company
The total can be broken down as follows :
Remuneration of staff in employment  
Retirement and pensions  
Social charges
The number of staff is as follows :
Operation and traffic  
Workshop services (rolling stock)
Ways and works  
General administration  
Social service
^  Total
The pensions of workers and salaried staff are paid by an independent  
fund, to which the DB pays a contribution, while those for permanent offi­
cials are paid by the undertaking itself. As shown in account 74.1. the DB  
receives a compensation for excess social charges and external superannua  
tion charges.
Account 61 - Materials Supplied and Services Performed by Third Parties
This account includes :
Current operating expenditure
Less tax (see Account 62)
Expenditure on materials supplied and ser­
vices provided by third parties for the  
renewal and maintenance of fixed assets 5 654
9 646
Of this DM 5 684 mio, only DM 2 294 mio for the expenditure on main^·  
taining installations and equipment remains in the Profit and Loss Account.
The other DM 3 390 mio - expenditure on materials for the construction of  
fixed assets - is entered in DB'S Balance Sheet in Account 73.
Account 62 - Taxes and Dues
Various taxes include DM 21.2 mio which are taxes on behalf of personnel.20 198 
395 
12
20 605
11 783 
5 587 
3 235
20 605
186 503 persons  
39 301 
61 217 
28 889 
5 581
321 491
4 084 
-  122

- 29 -
The VAT rate on rail activities is 13 % except on the suburban traffic  
(until 50 km) where it is 6,5 %. The 13 % rate is also in force on materials  
supplied and services performed by third parties. The ingoing and the outgoing  
TVA are booked separately and only the amount, which is to be paid is shown  
in Account 62.
Account 63 - Allocations for Depreciation
Reference should also be made to Accounts 10 and 12.
This account includes :
Ordinary depreciation of fixed assets 2 407
Depreciation of obsolete fixed assets 214
Less :
(a) contributions to investment costs and si­
milar contributions from third parties - 301
(b) other credit items relating to mainte­
nance and renewal - 428
1 892
Account 65 - Financial Charges
Interest, premiums and subsidies on bonds 2 673
Interest on loans and other outside resources
for increasing capital 40
2 713
Account 71 - Financial Revenue
This account includes :
Revenue from shares  
Interest on loans and other revenue
Account 72 - Other Revenue
This account is made up of :
The balance of revenue from other transport  
services (vehicle hire, services performed  
for other railways, etc.)
Other operational revenue
/((34
233
267
365 
1 436
1 801

- 30 -
This total may be broken down as follows :
Revenue from work done for, and supplied to  
third parties
Revenue from other activities, including rents  
Mi seel laneous610 
1 019
172
1  801
Account 73 - Contra of Costs Booked to Other Accounts
This account may be broken down as follows :
Services for own account, fixed assets and materials  
in stocks, entered as offsets to expenditure in  
the Profit and Loss Accounts
Expenditure on materials in respect of fixed  
assets (sse Account 61)1 176
3 390
4 566
Account 74 - Compensation and Aid
74.0 Regulation (EEC) N° 1191/69
Local rail passenger services
Mainline rail passenger services  
(social tariffs)
Maintenance of services on certain lines  
Support tariffs for the Saar  
Combined transport
74.1 Regulation (EEC) N° 1192/69
Operation and maintenance of level crossings
Medical aid for tuberculosis sufferers
Excess social charges due to structural factors
Additional staff superannuation
Additional training posts
External superannuation charges
External pensions3 275 
75
1
37
89
3 477
460
3
2 900 
697 
47 
395 
12
4 514

- 31
74.2 Regulation (EEC) N° 1107/70 (Article 3)
Road transport for apprentices 94
74.3 Other Compensation and Aid
Interest on Loans and other outside capital
taken up to increase own capital 4g
Interest in respect of improvement of the
capital structure 93^
976
The Federal Government allocations to cover losses carried over  
(DM 3^6 mio) for the repayment of loans and other outside resources  
for increasing capital (DM 17' mio) do not affect the results and are  
entered directly in the Balance Sheet. The tax on mineral oils (DM 216 mio)
refunded by the State has been deducted from the expenditure on fuel contained  
in Account 61.
AssignmSht öf t^t)®c^ensa,tion payments tb goods or pa&senger traf fic~  
respectively is only possible in the casc of State contribution in respect  
of Local rail passenger Services, mainlire rail passenger Services at social  
tariffs, road transport for apprentices end the support tariffs for the  
Saar (goods traffic).
Account 91.2 - Exceptional Profits
This account contains the revenue .irising from the adjustment of  
provisions and other profits (DM53 mio)„
Account 91.3 - Exceptional Lösses
The sum of DM 266 mio may be broken down as follows :
Depreciation of long term loans and investments 3
Depreciation of other current assets 2
Other charges 261
266

- 31 a -
SOURCE AND APPLICATION OF FUNDS
DB - 1981
SOURCE OF FUNDSMio DM
Increase in equity of shareholders 3 007.5
o u  cOther increases from shareholders  
Funds for staff  
Long-term financial debts
- debentures
- state loans
- other 
Internally generated  
Sale of scrap assets
Profit/(Loss) (4 044-3)
Adjustment for items not involving the movement of funds
Depreciation and amortisation 2 310.6
8 538.42 502.7
3 895.4
APPLICATION OF FUNDS
Decrease in equity of shareholders  
Repayments of long-term financial debts  
Purchase of assets
- fixed assets
- shareholdings in other undertakings
- long-term loans
- cost floating loans and loan redemption premiums  
Working capital
Current assets - increase/(decrease)
- stocks in store and being manufactured
- debtors
- loans repayable within one year
- bank balance and cash
Current liabilities - (increase)/decrease
- creditors
- financial debts of less than one year  
Other4 570.5
4 101.4 
11.2  
(66.0) 
4.3
(9.0)
131.8
5.1
156.0
(226.3)
(49.1)
(91.5)
8 538.4

- 32 -
SOCIETE NATIONALE DES CHEMINS DE FER FRANÇAIS (SNCF)

UNTERNEHMEN : SNCFBILANZ
AM 3 1 .1 2 .1 9 8 1TABEL ZE  4/4 
{MIC FF)
AKTIVA 1981 1980 PASST/A 1981 1380
ANLAGEVERMOEGEN 11
|
SACHANLAGEN {NETTOWERTE)i
1 70025 | GRUNDKAPITAL U ND  RUECKLAGEN 1
|
10 GRUNDSTUECKE U N D 491
587 | 44 412 00 GRUNDKAPITAL1014 | 14
ORTSFESTE ANLAGEN  
11 FAHRZEUGE 141
725 1 13 803 01 RUECKLAGEN 421
244 | 43 258 | 42 887
12 SONSTIGE ANLAGEN U N D  
FAHRZEUGE
13 ANLAGEN IM BAU 51
676 | 
1
037 |631 
6 53402 BAUKOSTENZUSCHUESSE  
FUER INVESTITIONEN
03 RUECKSTELLUNGENI
1
1685 |
6
1 04 PERSONAL FONDS 1 1 -
FINANZANLAGEN 1
15174 |
05 LANGFRISTIGE VERBIND-1
I 32 275 1
14 KAPITALBETEILIGUNGEN AN  
ANDEREN UNTERNEHMEN2064 |
i1 958 LICHKEITEN
-  OEFFENTLICHE ANLEIHEN 251
215 | 20 969
15 LANGFRISTIGE DARLEHEN 531 1  
1371
-  STAATLICHE ANLEIHEN 11
384 1 1 399
16 FMISSIONS- U N D  RUECK1A3LUNG-  
KOSTEN FUER ANLEIHEN
17 SONSTIGE ANLAGEWERTE2565 | 
1
14 1994
14-  SONSTIGE LANGFRISTIGE  
VERBINDLICHKEITEN51
676 | 
13 653
TEILSUMME 1 75199 1 68 717 TEILSUMME 1 76 418 | 68 928
UMLAUFVERMOEGEN1
1
Ii
1
1
MATERIALVORRAETE I
|3187 | 2 720 1
1
20-21* 11
1
REALISIERBARES LMLAUFVERMOEGEN Ij12086 | 1
1
30 FORDERUNGEN 11157 1  |10 527 1
1
41 DARLEHEN MIT EINER LAUFZEIT 129 i 120 KURZFRISTIGE i
VON WENIGER ALS EINEM JAHR  
42 WECHSEL VERBINDLICHKEITEN1
367 | 302 31 VERBINDLICHKEITEN 111
196 1  
|9 496
45 WERTPAPIERE1
433 | 281 40 VERBINDLICHKEITEN VON  
WENIGER ALS EINEM JAHR  
44 WECHSELVERBINDLICHKEITEN8841 | 
18 130
VERFUEGBARES UMLAUFVERMOEGEN 1
\650 1 548 2083 | 
12 057
4 3 -4 6 -4 7 -4 8 11
TEIL SUMME1-
1 15923 1 14 498 TEILSUMME 1 22 120 | 19 683
ERGEBNISSE 1 7416 1 ERGEBNISSE1
1
|1
1 .  1
0 6 .1  VERLUSTE AUS VORJAHRES 51
396 1 4 722 0 6 .0  GEWINNE AUS VORJAHREN 1
|1
1 I*
0 7 .1  JAHRESVERLUST 21
020 t 674 0 7 .0  JAHRESGEWINN 1I_____1 -
AKTIVA INSGESAMT 1 98538 1 88 611 PASSIVA INSGESAMT 1
|!
| =98 538 1 83 611

\
UNTERNEHMEN ·. SNCF
AUFWENDUNGEN  
SO PERSONAL AUFWEND UNGEN
61 MATERIAL UND LEISTUNGEN  
DRITTER
62 STEUERN U ND  ABGABEN
63 ABSCHREIBUNGEN
64 ZUWEISUNGEN AN RUECKSTELLUNGEN
65 FINANZLASTEN1981 
29 879 
14 206 
930
3 438
27
4 0601980 
26 405 
12 623 
660 
3 373 
8
2 652GEWINN- U ND  VERLUSTRECHNUNG
I .  ALLGEMEINER BETRIEB  
ERTRAEGE
70 VERKEHRSERTRAEGE
0. PERSONEN-UND GEPAECKVERKEHR ■
A. SCHIENE
B . STRASSE
C. M IT ANDEREN VERKEHRSMITTELN
1. GUETERVERKEHR
A . SCHIENE
I .  IN  ZUEGEN UND WAGENLADUNGEN
-  INLANDSVERKEHR
- INTERNATIONALER VERKEHR  
I I .  STUECKGUT
-  INLANDSVERKEHR
- INTERNATIONALER VERKEHR
B . STRASSE
C. M IT ANDEREN VERKEHRSMITTELN
TEILSUMME2. POSTVERKEHR
71 FINANZERTRAEGE
72 SONSTIGE ERTRAEGE
73 GEGENWERT DER ANDEREN KONTEN WEITER­
BELASTETEN AUFWENDUNGEN
74 AUSGLEICHSZAHLUNGEN U ND BEIHILFEN  
GEMAESS
0. VERORDNUNG (EWG) NR  1191/69
1. VERORDNUNG (EWG) NR  1192/69
2. VERORDNUNG (EWG) NR  1107/70
3. ANDERE AUSGLEICHSZAHLUNGEN UND  
BEIHILFENMIO FF  
1981TABELLE  45
JAHR  : 1981
1980 !
9 520 
3 000
2 767 
26712 520
3 03411 881 
211
15 55412 092
15 898
189
155
466 
28 456 
864 
2 649 
2 300
4 961 
501
5 010 
1 87310 405 
174
9 030 
2 916
2 451 
253 
176 
140
453
26 003
560
2 420
1 897
4 315 
450 
4 123 
1 639
1  1 1 I  TEILSUMME  | 1 123i*5 Ì 10527 |
1  BETRIEBSAUFWENDUNGEN INSGESAMT  11
52 540 1 45 721 | BETRIEBSERTRAEGE INSGESAMT  1 1 46614 i 41407 |
!  9 1 .0  BETRIEBSGEWINN DES  | 
1  GESCHAEFTSJAHRES  | 1- 1  9 1 .1  BETRIEBSERTRAEGE INSGESAMT  1  
1  11
15926 1  
14314 |
I I .  ZUSAMMENFASSUNG VON "GEWINN UND VERLUST"
1  9 1 .1  BETRIEB SERTRAEGE INSGESAMT  1  
1  1  
1  9 1 .3  AUSSERORDENTLICHE VERLUSTE  j5 926 | 
1
751 |4 314 
2511  9 1 .0  BETRIEBSGEWINN DES  1  
1  GESCHAEFTSJAHRES  1  
1  B l . 2 AUSSERORDENTLICHE GEWINNE  1
I1
1
I11
1
879 | 
|11
i
460 | 
J
1  9 1 .4  KOERPERSCHAFTSSTEUERN  | 
1  1  
1  BESONDERE ZUWEISUNG AN DIE  
1  RUECKLAGEN  |1
285 | 
11691  1  
1  9 1 .5  ZUSCHUSS ZUM  HAUSHALTSAUSGLEICH \  
| -  VERORDNUNG (EWG) NR  1107/70 A R T. 4 1  
i -  ANDERE  | 
1  11
| 3 063
13063 1  
1  
1
121
600 | 
1  
1
1  9 1 .6  GEWINN DES GESCHAEFTSJAHRES \  
1  1 I1  9 1 .7  BETRIEBSERTRAEGE INSGESAMT  | 
1  11
12020 | 
1674 | 
1044>

- 35 -
SNCF - Financial Year 1981
Figures are given in millions of FF.
I.  Balance Sheet  
Assets
Revaluation of Accounts 10 to 14
At the end of 1978, the SNCF revalued its Balance Sheet in accordance  
with the Finance Acts for 1977 and 1978.
Land was revalued on the basis of current market prices.
Depreciable assets were revalued in accordance with the ordinary rule  
on depreciation. The maximum revaluation coefficients were applied to the  
book value.
Revaluation resulted in an increase in the value of the assets and  
of the undertaking's own funds.
Accounts 10 to 12 - Fixed Assets
The gross value of the fixed assets and depreciation break down as  
follows :
DescriptionGross
ValueAccumulated
DepreciationNet Value
10. Land and Fixed  
Installations81 688 32 101 49 587
11. Transport Stock and  
Equipment62 241 24 932 14 725
12. Other Stock and  
Equipment676 - 676
144 605 57 033 64 988
The SNCF uses a linear method of depreciation with the possibility  
to amortize certain materials faster.
Account 14 - Shareholdings in Other Companies
Financial holdings have been revalued (see Table above) on the basis  
of either the companies' net position after revaluation to which the SNCF

- 36 -
shareholding percentage was applied (subsidiaries where the shareholding was  
larger than 50 %) or on the basis of their profitability for SNCF in the  
case of the remaining shareholdings.
Account 15 - Long-Term Loans
Loans granted to companies in which SNCF has a shareholding  
amount to FF 202 mio.
Accounts 20 and 21 - Stocks
Supplies 2 711
Work in progress 476
3 187
Account 30 - Debtors
Suppliers - down-payments and advances made on orders 429.4
Customers 2 191 1
Other debtors 2 850 3
Deposits and guarantees 7_4
Adjustments 75- ]  - j
Suspense accounts and items to be adjusted
Assets accounts for related services 4 927.3
11 156.6
Accounts 43 to 48 - Bank Balances and Cash
Various items in land 4 3 5
Bank balances, postal cheques and Treasury 77
Cash in hand <137
650

- 37 -
Liabi Lities
Account 01 - Reserves
Statutory and contractual reserves  
Difference in value after revaluation
(a) special reserve (non-depreciable assets)
(b) special provision (depreciable assets)
Account 05 - Long-Term Financial Debts
Debts to companies in which SNCF has a shareholding are in the form  
of bonds issued by SNCF and bought by the Société Immobilière des Chemins  
de Fer Français for a total of FF mio on 31 December 1981.
Account 31 - Creditors  
Suppli ers
Advances received from customers  
Other creditors  
Adjustments
Suspense accounts and items to be adjusted  
Liabilities accounts for related services
II.  Profit at.d Loss Account
Account 60 - Staff Costs
Wages and operational bonuses  
Social charges10 096
26 150 
5 998
42 244
2 554 
29 
5 174 
2 079
1 360 
11 196
20 071 
9 808
29 879

- 38 -
Account 61 - Materials Supplied and Services Performed by Third Parties
Purchase of materials 5 509
Work done and supplies and services provided  
externally 8 596
Various administration costs 567
14 672
Less change in the stocks account - 467
14 205
Account 62 - Taxes and Dues
This account breaks down as follows :
Direct Taxes and Dues
- business tax
- property and dwellings tax
- tax on interest and repayment premiums
- regular and special contributions relating to  
apprenticeships and training562.1
115.1 
36,1 
60,5
- payments relating to public transport 103,0
- other direct taxes and dues 9 3
- payroll tax ^3
- various taxes 0,3
Registration and Stamp Duty - Vehicle Tax on Cars 42,2
929,9
The VAT regime is in accordance with the 6th directive EEC of  
17 may 1977.
This account does not include any cost in relation to VAT because the  
accounting hereof is separate. The profit and loss account or the investment  
account only have to bear the non-deductible VAT.
Account 63 - Allocations for Depreciation
Allocation for depreciation (historic· values) 3 438

- 39 -
Account 73 - Contra of Costs Booked to O ther Accounts
W o r k  done by S N C F  o n  its o w n  behalf (to create fixed assets)  
Less non-operational w o rk  an d  expenditure
Account 74 - Com pensation an d  A id Received  
This account breaks d o w n  as follows :2 247 
53
2 300
74.0 Regulation (EEC) N° 1191/69
Compensation for tariff reductions
(a) Mainline network
(b) Paris suburban network  
Compensatory allowances  
Compensation for increased tariffs1 890 
1 232 
966 
560
Compensation for other tariff reductions
(a) Newspapers ^3
(b) Regional adjustments
Obligation to operate
- Military lines 5
Other compensations 183
4 961
74.1 Regulation (EEC) N° 1192/69
Cost of level crossing facilities 494
Reduction of the cost of loans 7
501
74.2 Regulation (EEC) N° 1107/70
Infrastructure cost 4 520
Insufficiency of tarrifs not covered by Reg. 1191/69 490
5 010
74.3 Other Compensations an d  Aids  
Paym ents from  local authorities :
(a) Reduction of depreciation cost (Paris suburbs)
(b) Compensations for tariff reductions an d  compensatory
allowances 1 873

- 40 -
Profits and Losses Summary
Transfers to reserves are affected on the basis of Art. 24 of the  
1937 Convention. This year's allocation is FF 285 mio.
Account 91,2 - Exceptional Profits  
This account covers :
(a) the difference in value after revaluation 906
(b) surpluses realized from the sale of
depreciable assets 62
non-depreciable assets 285
Cc) various profits 19
(d) profit of previous years
- regulation of state payments 132
- changes 466
598
(e) subvention to equipment 9
Account 91.3 - Exceptional losses
This account covers
(a) various losses 67
(b) losses of previous years
- regulation of state payments
- changes 472212
684

- 41 -
CORAS IOMPAIR EIREANN (CIE)

BILANZ TABELLE  54
UNTERNEHMEN · .  CIEAM 3 1 .1 2 .1 9 8 1(MIO IRL)
AKTIVA 1981 1980 PASSIVA 1981 1980 |
ANLAGEVERMOEGEN
SACHANLAGEN  (NETTOWERTE) 1 2 5 ,5 GRUNDKAPITAL UND RUECKLAGEN
10 GRUNDSTUECKE U ND  
ORTSFESTE ANLAGEN
11 FAHRZEUGE5 7 ,2
6 2 ,63 8 ,7
4 9 .300 GRUNDKAPITAL
01 RUECKLAGEN-
1 5 ,5 1 5 ,5 14 |
12 SONSTIGE ANLAGEN UND  
FAHRZEUGE
13 ANLAGEN IM BAU5 ,7 5 ,5 02 BAUKOSTENZUSCHUESSE  
EUER INVESTITIONEN
03 RUECKSTELLUNGEN
04 PERSONALFONDS1 ,5
3 8 ,11 .5  | 
2 8 ,8  |
FINANZANLAGEN
14 KAPITALBETEILIGUNGEN AN  
ANDEREN UNTERNEHMEN
15 LANGFRISTIGE DARLEHEN00
_05 LANGFRISTIGE VERBIND­
LICHKEITEN
-  OEFFENTLICHE ANLEIHEN
-  STAATLICHE ANLEIHEN5. 5 
37, 58 5 ,4
5 .5  | 
3 3 ,3  1
16 EMISSIONS-UND RUECKZABLUNG-  
KOSTEN EUER ANLEIHEN
17 SONSTIGE ANLAGEWERTE_-  SONSTIGE LANGFRISTIGE  
VERBINDLICHKEITEN4 2 ,4 1 3 ,8  |
TEILSUMME 125 .5 9 3 ,5 TEILSUMME140 ,5 9 6 .9  |
UMLAUFVERMOEGEN!
MATERIAL VORRAETE3 4 ,6 2 4 .4
20-21
REALISIERBARES UMLAUFVERMOEGEN 3 4 ,7
30 FORDERUNGEN 3 1 ,9 2 0 ,6
41 DARLEHEN MIT EINER LAUFZEIT  
VON WENIGER ALS EINEM JAHR
42 WECHSELVERBINDLICHKEITEN ; •KURZFRISTIGE  
31 VERBINDLICHKEITEN 54 4 2 ,1  1
45 WERTPAPIERE
VERFUEGBARES UMLAUFVERMOEGEN2 ,8
1 ,62 ,5
1 ,440 VERBINDLICHKEITEN VON  
WENIGER ALS EINEM JAHR  
44 WECHSEL VERBINDLICHKEITEN2 4 ,1 1 5 ,6  [
4 3 -4 6 -4 7 -4 8
TEILSUMME 7 0 .9 1+8,9 TEILSUMME78 ,1 5 7 ,7  !
ERGEBNISSE 2 2 ,2 ERGEBNISSE -
0 6 .1  VERLUSTE AUS VORJAHREN 1 2 ,2 7 .6 0 6 .0  GEWINNE AUS VORJAHREN - -  !
0 7 .1  JAHRESVERLUST 10 4 ,6 07. 0 JAHRESGEWINN - -  1
AKTIVA INSGESAMT 218.6 154 .6 PASSIVA INSGESAMT 218,6 1 5 4 ,6  1

GEWINN- UND VERLUSTRECHNUNGitiBELLE
UNTERNEHMEN : C IE
I .  ALLGEMEINER BETRIEB  
ERTRAEGEMIO IR L  
1 9 8 1■.A H R  : 1381
1380 iAUFWENDUNGEN  
6 0  PERSONALAUFWENDUNGEN1 9 8 1
1 4 9 , 8
9 6 , 5
11,1
1 5 , 2
8 . 41 9 8 0
1 2 9 , 3
7 3 , 2
6 , 9
11
6,16 1  MATERIAL UND LEISTUNGEN  
DRITTER
6 2  STEUERN UND ABGABEN
6 3  ABSCHREIBUNGEN
6 4  ZUWEISUNGEN AN RUECKSTELLUNGEN
6 5  EINANZLASTEN7 0  VERKEHRSERTRAEGE
0 .  PERSONEN-UND GEPAECKVERKEHR
A . SCHIENE
B . STRASSE
C . M IT  ANDEREN VERKEHRSMITTELN
1 .  GUETERVERXEHR
A . SCHIENE
I .  IN  ZUEGEN UND WAGENLADUNGEN
-  INLANDSVERKEHR
-  INTERNATIONALER VERKEHR  
I I .  STUECKGUT
-  INLANDSVERKEHR
-  INTERNATIONALER VERKEHR
B . STRASSE
C . M IT  ANDEREN VERKEHRSMITTELN
2 .  POSTVERKEHR
TEILSUMME
7 1  FINANZERTRAEGE
7 2  SONSTIGE ERTRAEGE
7 3  GEGENWERT DER ANDEREN KONTEN WEITER­
BELASTETEN AUFWENDUNGEN
7 4  AUSGLEICHSZAHLUNGEN UND BEIHILFEN  
GEMAESS
0 .  VERORDNUNG (EWG) NR  1 1 9 1 / 6 9
1 .  VERORDNUNG (EWG) NR  1 1 9 2 / 6 9
2 .  VERORDNUNG (EWG) NR  1 1 0 7 / 7 0
3 .  ANDERE AUSGLEICHSZAHLUNGEN UND  
B EIH ILFE N
TEILSUMME1 2 , 3
o, 112,1,2
6,12 4
7 3 , 9
,2
1 8 , 4
1 5
2 6 , 5
4 . 5
3 4 , 8
.29 8 , 1
3 3 , 4
2 , 4
1 3 3 , 9
12,6
4 0 , 4
66
BETRIEBSAUFWENDUNGEN INSGESAMT 2 8 1 2 2 6 , 5 BETRIEBSERTRAEGE INSGESAMT  
9 1 . 1  BETRIEBSERTRAEGE INSGESAMT2 5 2 , 9
2 8 , 12 2 , 9
6 8 , 5
,2
9 . 5
,2
5 . 6
,1
1 4 , 7
,1
2
1 2 3 , 8
11
1 8 . 4
21
4 , 5
2 4 , 1
.2
4 9 , 8
2 0 3
2 3 . 5
9 1 . 0  BETRIEBSGEWINN DES  
GESCHAEFTSJAHRES
I I .  ZUSAMMENFASSUNG VON "GEWINN UND VERLUST"
| 9 1 . 1  BETRIEBSERTRAEGE INSGESAMT  
|2 8 . 1 2 3 , 5 9 1 . 0  BETRIEBSGEWINN DES  
GESCRAEFTSJAHRES1
1- -
1 9 1 .  3  AUSSERORDENTLICHE VERLUSTE . 9 1 . 3 9 1 . 2  AUSSERORDENTLICHE GEWINNE 1
|
1
1 9 1 . 4  KOERPERSCHA FTSSTEUERN  
1 
1* -9 1 . 5  ZUSCHUSS ZUM HAUSHALTSAUSGLEICH
-  VERORDNUNG (.EWG) NR  1 1 0 7 / 7 0  ART.>i  
' -  ANDERE1i
1
11 91 9
2 0 , 2
| 9 1 . 6  GEWINN DES GESCBAEFTSJAHRES  
1-9 1 . 7  BETRIEBSERTRAEGE INSGESAMT 1
11 0 4 ,  s

- 44 -
CIE - FINANCIAL YEAR 1981
Explanatory Notes
Figures are given in millions of IRL.
I. Balance Sheet  
Assets
Accounts 10 to 12 - Fixed Assets
The amounts shown represent the net value of fixed assets acquired  
since 1950, including railway lines and works incurred since 1974. They also  
include work in progress.
Account No 10111_2Total
Value first of year 38.749.45.5 93.6
+ purchases and additions 18.618.11.037.4
- disposals
- depreciation 0.14-90-8 5.8
Value end of year 57.262.65.7125.5
Fixed Assets under construction are included in items 10, 11 and 12.  
Accounts 20 and 21 - Stocks
Stocks are valued at cost, generally determined on the basis of the  
average cost, which is computed after making provision for defective and
obsolete stocks.
Operations 1.5
Fuel 12_1
Rolling Stock and Machine Power 4.4
Ways and works 9.2
Others 8.8
Less obsolescence - 1.4
34.6

- 45 -
Liabilities
Account 01 - Reserves
Fund for the depreciation of Transport stock 2.8 
Bank Loans redemption fund 0.2 
Redemption fund - unsecured Loans 0.3 
CapitaL reserves 12.2
Account 31 - Creditors15.5
Creditors and expenses outstanding 54.1
Tax charges 0*1
EquaLisation account :  renewaL of Lines and works (0.2)
54.0
Account 40 - FinanciaL Debts of Less than One Year Term
Amount due to banks 5.2
Unsecured bank Loans 18.9
24.1
Profit an d  Loss Account
Expenses
Account 60 - Staff Costs
T h e foLLowing anaLysis is shown :
1. Staff expenditures
Wages and saLaries 130.5
Superannuation and pensions 9.6
SociaL charges 9.7
TotaL 149.8
2. Staff and Staff expenditures Expenses
GeneraL administration 3.1
Operation and traffic 34.3
RoLLing Stock and Machine Power 14.3
Ways and Works 13.7
Others 84.4
TotaL 149.8Numbers 
391 
3 458 
1 723 
1 907 
10 561
18 040

- 46 -
Account 61 - Material Supplied and Services Performed by Third Parties
Fuel - Rail 7.3
“ Other 6^0 13.3
Materials - Operations and traffic 1.7  
Rolling Stock and Machine Power 7.9
8.4 
47.7Ways and Works  
Other 
Materi a Is Sub-total
Insurance Premium/Cost of Claims
Accomodation Expenses
Leasing and Hire of Equipment
Cost of miscellaneous Sales
Advertising
Balance
Services Sub-total
__TOTALAc
count 6Z - Taxes and Dues3.8
3.6
3.4
2.0
1.5 
3.4
Non-deductible VAT
Import and excise duty payments
Road tax and licences in respect of road  
vehicle operations65.7
79.0
17.5
5.4
4.8
0.9
11.196.5.
Account 63 - Allocations for Depreciation  
Depreci ation
Movement on Asset Replacement Reserve5.9
9.3
15.2
Account 65 - Financial Charges
(a) Net financial charges (interest on trans­
port stocks and on repayable State advance
for capital expenditure and on Working Capital)
(b) Transfer of rents received
(c) Redemption fund - unsecured loan for stock  
and equipment
REVENUE8.
8.4
Account 72 - Other Revenue
This includes revenue from :

- 47 -
(a) other rail and road services
(b) hotels and catering services
(c) Rosslare harbour operations
(d) canal operations
(e) work for third parties
(f) rents receivable
Account 73 - Contra of Costs Booked to Other Accounts  
This heading covers
(a) capital expenditures  
(b> disposal of land and buildings
(c) personal accounts
(d) actual exp. on renewal of lines and works
(e) provision for renewal of lines and works
Account 74 - Compensation and Aid
This account breaks down as follows :
74.0 Regulation (EEC) N° 1191/69
Operation of passenger services 26.5
74.1 Regulation (EEC) N° 1192/69
Retirement and pensions 3.8
Level crossings 0.7
4.5
74.2 Regulation (EEC) N° 1107/70
Contribution to infrastructure expenses
Deficit on the operation of road passenger  
transport services in Dublin and in the  
provinces
74.3 Other Compensation and Aid
Compensation for tosses on the Galway - Aran  
Islands ferry service 0.20.7
9.2
2.4
0.1
0.2
12.6
37.7
2.0
9.0
(8.3)
40.4
3.9
30.9
34.8

- 48 -
CONSOLIDATED SOURCE AND APPLICATION OF FUND STATEMENT
1981
Sources of Funds Mio IRL
Reserves 1.5
Loans 32.7
Internally generated
Profit / (Loss) (10.0)
Adjustment for items not involving the mofements of funds  
Depreciation 15.1
39.3
Application of Funds
Purchase of Fixed Assets 37.7
1.6
Increase / (Decrease) in Working Capital
Stocks 10.2
Debtors 11.7
Creditors (11.9) 10.0
Movement in Net Liquid Funds :
Cash 0.2
Financial Debts of Less (8.6) (8.4)
than one Year ----
1.6

- 49 -
AZIENDA AUTONOMA DELLE FERROVIE  
DELLO STATO <FS)

UNTERNEHMEN : FS  
AKTIVABILANZ
AM 3 1 .1 2 .1 9 8 1  
1980TABELLE  5.4 
WRD LIT)  
1980 1981 PASSF/A 1981
ANLAGEVEEMCEGEN  
SACHANLAGEN  (NETTOWERTE)
10 GRUND STUECKB U N D  
ORTSFESTE ANLAGEN
11 FAHRZEUGE
12 SONSTIGE ANLAGEN U N D  
FAHRZEUGE
13 ANLAGEN IM BAU
FINANZANLAGEN
1* KAPITALBETEILIGUNGEN AN  
ANDEREN UNTERNEHMEi  
15 LANGFRISTIGE DARLEHEN
IS EMISSIONS-UND RUECKZAHLUNG-  
KOSTEN EUER ANLEIHEN  
17 SONSTIGE ANLAGEWERTE
TEILSUMME
UMLAUFVERMOEGEN  
MATERIAL VORRAETE  
20-21
REALISIERBARES UMLAUFVERMOEGEN  
30 FORDERUNGEN
41 DARLEHEN MIT EINER LAUFZEIT  
VON WENIGER ALS EINEM JAHR
42 WECHSEL VERBINDLICHKEITEN
45 WERTPAPIERE
VERFUEGBARES UMLAUFVERMOEGEN
4 3 -4 6 -4 7 -4 8
TEILSUMME
ERGEBNISSE
0 6 .1  VERLUSTE AUS VORJAHREN
0 7 .1  JAHRESVERLUST
AKTIVA INSGESAMT4 324 
3 425 
201
23
424
1 801
9 871 
1 6477 950
447
8 397
1 233
1 801
2 094
5 128
11 5183 704 
2 956 
179
23
346
7 208
978
1 445
1 268
3 691
25 0438 522 
1 469 
20 890GRUNDKAPITAL UND RUECKLAGEN
00 GRUNDKAPITAL
01 RUECKLAGEN
02 BAUKOSTENZÜSCHUESSE  
FUER INVESTITIONEN
03 RUECKSTELLUNGEN
04 PERSONALFONDS
05 LANGFRISTIGE VERBIND­
LICHKEITEN
-  OEFFENTLICHE ANLEIHEN
- STAATLICHE ANLEIHEN
-  SONSTIGE LANGFRISTIGE  
VERBINDLICHKEITEN
TEIL SUMM E
KURZFRISTIGE
31 VERBINDLICHKEITEN
40 VERBINDLICHKEITEN VON  
WENIGER ALS EINEM JAHR  
44 WECHSELVERBINDLICHKEITEN
TEILSUMME
ERGEBNISSE
0 6 .0  GEWINNE AUS VORJAHREN
0 7 .0  JAHRESGEWINN  
PASSIVA INSGESAMT45 
2 378
3 215 
9 711 
1 143
4 675 
32 423 
2 733 
1 140
14 06945
1 902
2 351 
994
2 515 
8 404 
1 215
20 365 17 426
3 460 
4
4 678 3 464
25 043 20 890

GEWINN- UND VERLUSTRECHNUNGc 3
UNTERNEHMEN : FSI .  ALLGEMEINER BETRIEBMSD LI 'T JAHR : 1981
AUFWENDUNGEN 1S81 1980 ERTRAEGE1981 1980 1
60 PERSONALAUFWENDUNGEN 4 181 3 484 70 VERKERRSERTRAEGE977
61 MATERIAL U ND  LEISTUNGEN  
DRITTER
62 STEUERN UND ABGABEN2 171 
1271 672 
1080. PERSONEN-UND GEPAECKVERKEHR
A . SCHIENE
B . STRASSE
C . MIT ANDEREN VERKEHRSMITTELN- -
-
-
53 ABSCHREIBUNGEN
S H - ZUWEISUNGEN AN RUECKSTELLUNGEN
65 FINANZLASTEN774
649541
4581 . GUETERVERKEHR
A . SCHIENE
I .  IN  ZUEGEN U ND  WAGENLADUNGEN
-  INLANDSVERKEHR
-  INTERNATIONALER VERKEHR  
I I .  STUECKGUT
-  INLANDSVERKEHR
- INTERNATIONALER VERKEHR
B . STRASSE
C . M IT ANDEREN VERKEHRSMITTELN
2. POSTVERKEHR-591
3-
-
-
-
4
TEILSUMME1 571 1 485
71 FINANZERTRAEGE28 35
72 SONSTIGE ERTRAEGE190 173
73 GEGENWERT DER ANDEREN KONTEN WEITER­
BELASTETEN AUFWENDUNGEN
74 AUSGLEICHSZAHLUNGEN UND BEIHILFEN  
■  GEMAESS
0 . VERORDNUNG {EWG) NR  1191/69
1. VERORDNUNG  (EWG ) NR 1192/69
2. VERORDNUNG {ENG) NR  1107/70
3 . ANDERE AUSGLEICHSZAHLUNGEN U ND2 214 
414 
222835 642
1 278 
369
BEIHILFEN
TEILSUMME2 850 1 647
BETRIEBSAUFWENDUNGEN INSGESAMT  | 7 902 I 6 263 I BETRIEBSERTRAEGE INSGESAMT  I  __________________ ______________ f.Ü IÜ .j ____ L Ü ft-
9 1
.0  BETRIEBSGEWINN DES  I  -  I  - I  91-1 BETRIEBSERTRAEGE INSGESAMT  j  2 428 | 2 28* I
GESCHAEFTSJABRES  I  I  I  1  ____ 1_______________ __________ ________
I I
.  ZUSAMMENFASSUNG VON "GEWINN UND VERLUST^'
| 9 1 .1  BETRIEB SERTRAEGE INSGESAMT  |
i i
| 9 1 .3  AUSSERORDENTLICHE VERLUSTE  |
1  l
| 91.1* KOERPERSCHA FTSSTEUERN  1
i2 >*28 |
1
2 1  
1
1
12 281 1  9 1 .0  BETRIEBSGEWINN DES  1  
| GESCHAEFTSJ AHRES  1  
1 | 9 1 .2  AUSSERORDENTLICHE GEWINNE  1  
| 1  
j 9 1 .5  ZUSCHUSS ZUM  HAUSHALTSAUSGLEICH  1  
| -  VERORDNUNG {EWG) NR  1107/70 ART .4  1  
I  -  ANDERE  11
1
1
1
1  7231
60 1  
1
723 | 
183
730
| 9 1 .6  GEWINN DES GESCHAEFTSJAHRES  1
11  9 1 .7  BETRIEBSERTRAEGE INSGESAMT  1  
1  1!
11 647 1  
11 469

- 52 -
FS - FINANCIAL YEAR 1981
Explanatory Notes
Figures are given in milliards (thousands of millions) of LIT.
I. Balance Sheet  
Assets
Accounts 10 - 12 - Fixed Assets
The figures in accounts 10 to 12 are the costs of acquisition or  
construction as the FS does not employ the system of depreciating fixed 
assets. The last revaluation took place in 1927.
Account No. 1011 11 Total
Value first of year 3 704 2 956179 6 839
+ purchases and additions 642 475 25 1 142
- amounts written off 22 63 31
- depreciations
Value end of year 4 324 3 425201 7 950
Account 13 - Fixed Assets under Construction
Investment expenditure is booked directly to the accounts concerned  
without passing through this account.
Account 16 - Cost of Floating Loans and Loan Redemption Premiums  
Issue costs are never depreciated.
Accounts 20 and 21 - Stocks
The figure of LIT 1 233 mrd includes work in progress (LIT 20 mrd) in FS
workshops; not all of this is concerned with stocks. The value is calculated on the  
basis of the weighted average price.
Account 06,1 - Losses for Previous Financial Years
The amount entered in this account includes LIT 9 823 mrd covered  
by loans. The difference of LIT 120 mrd between the amount LIT 9 991 mrd in  
1980 and the amount LIT 9 870 mrd in 1981 represents a repayment.
Account 07.1 - Loss for the Financial Year
LIT 840 mrd of the loss for the financial year is covered by advance 
loans from the Treasury Ministry.

- 53 -
Liabilities  
Account 00 - Capital
The amount entered in this account represents the initial State  
allocation for lines and equipment and successive changes. In fact, changes  
take place only as a result of the closure of lines by Presidential Decree.
Account 02 - Contribution to Investment Costs
The amount entered under this account includes LIT 1  858 mrd by way  
of reimbursement by the State for the redemption of loans (excluding interest  
contracted to finance investments).
Account 05 - Long-Term Financial Debts
These debts include LIT 10 662 mrd in respect of long term debt to  
cover losses. This is made up as follows :
Debenture loans 954
State loans 9 708
10 662
These amounts can be set off against those entered under 06. 1 and  
07.1. The amounts in question are indicated in the Notes to those Accounts.
Debts to companies in which FS has a shareholding amount to  
LIT 517 mrd (Eurofima).
II. Profit and Loss Account  
Expenses
Account 6Q - Staff costs  
1. Staff expenditures
Wages, salaries and family benefits 3 116  
2)Pensions 678
Other social charges 387
4 181
1>_ .  ... _ _ _ _ _ _ _ _ _ _ _ 1 )F
amily benefits - LIT 89 mrd are paid directly by FS  
Contribution to the Pension Fund2)

- 54 -
2. Staff and staff expenditures Expenses Numbers
General administration 177 8 418
Movements and traffic 1 745 91 589
Stock and traction 1 291 67 531
Fixed installations 903 51 213
Miscellaneous 65 5 048
4 181 223 799
Account 61 - Materials supplied and services performed by third parties
- Non-establishment staff (remuneration and direct charges 39
- Energy and materials; services performed by third
parties 1 128
- Miscellaneous charges 347
- Associated investments in accordance with annexe IV
of the regulation 657
2 171
Account 62 - Taxes and Dues
The amount entered in this account is made up as follows :
Taxes on land and buildings 0.9
Non-deductible VAT 22.1
VAT not recoverable from users 103.6
126.6
Account 63 - 64
The FS does not depreciate its fixed assets, but sets up an annual  
reserve for their renewal which is entered under account 64.
Account 65 - Financial Charges
The amount of LIT 207 mrd includes repayments and interest for loans  
contracted to cover deficits reimbursed by the State under the provisions  
of Regulation (EEC) N° 1192/69 (see Notes to Account 74.1).

- 55 -
Revenue
Account 70 - Traffic Revenue
It is impossible to provide accounting data broken down as required  
by Annex IV to Regulation (EEC) N° 2830/77.
Account 73 - Contra of costs booked to other accounts
1 )- Investment (see account 61 )
- Level of the maintenance fund at the beginning of the year
- Work carried out in workshops on maintenance of stock
- Work carried out in workshops to create assets
- Work carried out in certain workshops not chargeable
to the profit and loss account or the balance sheet
- Work in progress in workshops at the end of the year
- Value of out-of-service and surplus stock in store657.0
112.1
22.5
0.2
5.7
20.0
17.0
834.5
Account 74 - Compensatory and Aid
These are made up as follows :
74,0 Regulation (EEC) N° 1191/69  
Operation of :
(a) low-traffic lines
(b) unprofitable installations
(c) ferry seivices to Sardinia
(d) substitute road services  
Tariff obligations
Expenses arising from tariff obligations  
of a social nature
Mail transport911
26
42 
0
315
872
43
Z 214
1)This relates to materials supplied and services performed by third  
parties, which are to be classified as investments.

- 56 -
74.1 Regulation N° 1192/69
Expenditure of a social nature (Class II)
Superannuation and pensions (Class III) 29
Level crossings (Class IV) ç7
Recognition of services to the country (Class X) 4
Conditions in respect of the placing of public  
tenders (Class XIV)
Lack of normalization in the past (Class XV)
(a) interest on loans for the renewal of instal­
lations 42
(b) financial charges (capital and interest) on
loans contracted to cover deficits 207
Account 91.7 - Loss for the Financial Year414
As mentioned in the Note to Balance Sheet Account 07.1, the loss  
for the financial year includes the sum of LIT 840 mrd already covered  
by State loans.
■ 7
IS

- 56 a -
S O U R C E  A N D  A P P L I C A T I O N  O F  F U N D S  
FS - 1981
SOURCE OF FUNDS  
External financing
- Long term loans for the financing of investments 981.4
- State loans for covering losses ^ 313.1
- State subsidies for redeeming loans for financing
of investments 316.0
- Special state subsidies for investment 65.6
- Investment made with non-repayable loans from the
Cassa per il Mezzogiorno 0.3
Changes in reserves as a result of management action
- Allocation to renewals fund; increase in funds for covering 650.6
- Sales of fixed assets and demolition salvage 20.8
- Operating loss d  647.1)
1 700.7
APPLICATION OF FUNDS  
Purchase of assets
- Purchase of assets 1 141.9
- Purchase of shares 0.3
Working capital
Current assets - increases/(decreases)
- Stocks and work in progress 255.4
- Short-ter.'1  credit 355.5
- Bank balance and cash 826.3
Current liabilities (increases)/decreases
- Various short-term debts (1 '214.3)
- Debts of less than one year term 0.2
Mi seellaneous
- Redemption of loans for the financing of investments 316.4
- Non-operating losses covered by reduction of the  
reserves and of the fund for operating and spec-ial
management expenditures 19.0
1 700.7
*)Operating an d  special m an agem en t expenditures; redemption of loan chargeable  
to P/L  accounts; constitution of reserves for future investment.

- 57 -
SOCIETE NATIONALE DES CHEMINS DE FER  
LUXEMBOURGEOIS (CFL)

GEWINN- UND VERLUSTRECHNUNG TABELLE 13
UNTERNEHMEN  : CFL
I .  ALLGEMEINER BETRIEB MIO LFR JAHR : 1 9 S 1
AUFWENDUNGEN  11 9 8 1  11 9 8 0 ERTRAEGE 1 9 8 1 1 3 6 0
6 0  PERSON ALA UFWEND UNO EH  i 5  4 2 7  ( 5  0 2 5 7 0VERKEHRS-ERTRAEGE
1 12 6 0  !
6 1  MATERIAL UND LEISTUNGEN  | 6 1 3  | 5 4 7 0 .  PERSONEN-UND GERAECKVERKENR
DRITTER  1 1 A . SCHIENE 2 2 8 2 1 6
6 2  STEUERN UND ABGABEN  | 4 2  | 5 3 S . STRASSE\3 2 2 8
1' C . K IT  ANDEREN VERKEHRSMITTELN ~
6 3  AB SCHREIB UNGEN  1 4 5 u  1 4 2 7
1 1 1 .  GUETER7ERXEHR 13 9 6  1
6 4  ZUWEISUNGEN AN RUECKSTELLUNGEN  | 1 9 6  1 1 8 5 A . SCHIEßE 13 7 3 I
1 1 I .  IN  ZUEGEN UND WAGENLADUNGEN 1  3 3 6
65 FINANZLASTEN  1 2 0 3  | 1 6 5 -  INLANDSVERKEHR 1 1 9 0 2 2 1
1 1 -  INTERNATIONALER VERKEHR 1 1  1 4 6 !1  2 9 1
1 ! I I .  ST’ JECKGUT 3 7 1
1 1 -  INLANDSVERKEHR 1 5 1 1
1 1 -  INTERNATIONALER VERKEHR 1 3 2 1 3 8
1 1 B . STRASSE i- 2 3 1 2 1
1 1 C . M IT  ANDEREN VERKEHRSMITTELN ”
1
11
1 2 .  PO ST/ERKE HR_-
i 1
1 T E IL SUMME 16 5 6  1 1  8 1 5
I
iI
I 7 1FINANZERTRASGE 6 6  | 6 2
11
1 7 2SONSTIGE ERTRAEGE 8 6 1 0 8
1 1 7 3GEGENWERT DER ANDEREN KONTEN WEITER--
1 1 BELASTETEN AUFWENDUNGEN
1 7 4AUSGLEICHSZAHLUNGEN UND BEIHILFEN
1 GEMAESS1
1 1 0 .  VERORDNUNG iEWG) NR  1 1 9 1 / 6 9 16 4 6 1  6 9 9
1 1 .  VERORDNUNG [EWG) NR  1 1 9 2 / 6 9 17 4 4 1  3 8 9
1 2 .  VERORDNUNG [EWG) NR  1 1 0 7 / 7 0 13 3 2 1  0 9 3
1 3 .  ANDERE AUSGLEICHSZAHLUNGEN UND - “
1 B EIH ILFE N -
1 1 T E IL  SUMME 47 2 2 4  1 8 1
BETRIEB SA ÜFWENDUNGEN INSGESAMT  16  9 3 1  j 6  4 0 2 BETRIEBSERTRAEGE INSGESAMT 65 3 0 6  1 6 7
9 1 . 0  BETRIEB SGEVnm  DES  {.9 11  BETRIEBSERTRAEGE INSGESAMT 4 0 1 2 3 5
GESCBAEFTSJ AHRES  j 1
I I .  ZUSAMMENFASSUNG VON "GEWINN UND VERLUST"
| 9 1 . 1  BETRIEBSERTRAEGE INSGESAMT  
1
! 9 1 . 3  AUSSERORDENTLICHE VERLUSTE4 0 1 2 3 5  | 9 1 . 0  BETRIEBSGEWINN DES  
| GESCHAEFTSJAHRES  
6  | 9 1 . 2  AUSSERORDENTLICHE GEWINNE!1
!
2 6  |
1
| 9 1 . 4  KOERPERSCHAFTSSTEUERN  
1 
i- 1 9 1 . 5  ZUSCHUSS ZUM HAUSHALTSAUSGLEICH  
| -  VERORDNUNG {EWG) NR  1 1 0 7 / 7 0  ART. 4  
1 -  ANDERE 11
1
| 9 1 . 6  GEWINN DES GESCHAEFTSJAHRES  
1-1
1 9 1 . 7  BETRIE3SERTRAEGE INSGESA1-1T  
11 w i 2 1 5  | 
1

BILAN Z TABELLE  7A
UNTERNEHMEN : CFL A M 3 1 .1?.1961 (MIO LFR)
AKTIVA 1981 1930 PASSIVA \ 1981 19S0
A liL A G EV ER?40EGEN 1 1
!
SACHANLAGEN (NETTOWERTE) 3599 GRUNDKAPITAL UND RUSCKLAGEN  !
10 GRUND STUECKE UND 843 1 737 00GRUNDKAPITAL  1i  eco ! 1 600
ORTSFESTE ANLAGEN 1]
11 FAHRZEUGE 1 422 1 1486 01RUSCKLAGEN  1
1 .747 i 2347 353
12 SONSTIGE ANLAGEN UND 42 | 37 02BAUKOSTENZUSCHUESSE  |- -
FAHRZEUGE FUER INVESTITIO NEN  |
13 ANLAGEN E i BAU 1 292 1 1117 03RUECKSTSL LUNGEN \
|1 336 368
04PERSONALFONDS  1 | - -
F I NA N ZA NLAG EN 57 1I
05LANGFRISTIGE VERBIND-  1 • 1363
14 KAPITALBETEILIGUNGEN AN 55 1 52 LIC H KEITEN  | i
ANDEREN UNTERNEHMEN -  OEFFENTLIC HE ANLEIHEN  | 245 ! 271
15 LANGFRISTIGE DARLEHEN -  1- 1 !
-  STAATLICHE ANLEIHEN \ •tc l j 459
16 EMISSIONS-UND RUECKZA HL UNG- 1- 1 i
KOSTEN EUER ANLEIHEN-  SONSTIGE LANGFRISTIGE  1 677 ; 4o /
17 SONSTIGE ANLAGEWERTE 2 1 - VERBINDLICHKEITEN  1 1
T E IL  SUMME 3656 342 9 T E IL  SUMME  1 i -056 4 12c
U tilA  UFVERM GEGEN1
j
i
ji
MATERIAL VORRAETE 558 581 1
11
|
2 0 -21 1 1
1
REALISIERBARES UMLAUFVERMOEGEN 996 1 i
j
30 FORDERUNGEN 643 1 1065 1
11
|
41 DARLEHEN M IT  EINER LAU FZEIT 300 | 200 KURZFRISTIGE  1 1
VON 'WENIGER ALS EINE, M  JAHR. . .1 1
95842 WECHSELVERBINDLICHKEITEN 1 - 31VERBINDLICHKEITEN  1 834 |
1
45 WERTPAPIERE 53 1 66 40VERBINDLICHKEITEN VON  | 441 | 3S6
WENIGER ALS  EINEM JAHR  | i
VERFUSGBARES UMLAUFVERMOEGEN 12 14 44WECHSEL VERBINDE ICHKEITEN  j
j!
I—
4 3 -4 6 -4 7 -4 8 1
TEILSUMME 1566 X926 TEILSUMME  i  
1 i1275 1 354
ERGEBNISSE 119 ERGEBNISSE  [ 
_ - 1i
|-
C 6.1 VERLUSTE AUS VORJAHREN 119 1 127 06. 0  GEWINNE AUS VORJAHREN \ -  ì -
0 7 .1  JAHRESVERLUST 1 - 0 7 .0  JAHRESGEWINN \ I -
AKTIVA INSGESAMT 5341 5432 PASSIVA INSGESAMT \ 1 5341 5 432
|

- 60 -
CFL - FINANCIAL YEAR 1981  
Explanatory Notes
Figures are given in millions of LFR
I. Balance Sheet  
Assets
Accounts 10 to 12 - Fixed Assets
The amounts included are made up as follows :
Account Nr 10 11 11 11Total
Value first of year 7371 486 371 117 3 377
+ purchases and additions 144 38 14 175 371
- disposals- 41 1- 42
- depreciation 38 61 _8 107
Value end of year 8431 422 421 292 3 599
There is no depreciation in the case of land.
The value of the land and fixed installations placed at CFL's disposal  
by the State when the company was formed appears in the Balance Sheet as nil.  
The renewal costs for these fixed assets are regarded as a depreciation  
allocation charged to the operating account.
Account 13 - Fixed Assets under Construction
The actual cost of this work is shown in the Balance Sheet.
Account 20 - 21 - Stocks
The valuation is based on the weighted average prices.
Stock - consumable goods and spare parts  
Fuel
Local depots of spare parts
Account 30 - Debtors
Miscellaneous debtors
Expenses prepaid
Costs for 1982 paid in 1981430
69
59
558
176
99
368 643

- 61 -
Account 07.1 - Loss for the Financial Year
The Loss is covered by the reserves and does not appear under this item.
LIABILITIES  
Account 01 - Reserves
Reserve funds and parts of Long and medium-term debts  
paid off
Reserve fund - art. 32 of statut  
Account 03 - Provisions
Insurance Fund 160
Fund for the recovery of initiaL expenses 176
336
Account 05 - Long-Term FinanciaL Debts  
Other financiaL debts are :
Cash advances which can be consolidated 207
Debts to company in which CFL has a sharehoLding 221
(Eurofima)
Debts to CPEP 250
Account 31 - Creditors
SharehoLders 47
Other creditors 473
Customer creditors
Income received in advance 190
Costs to be paid 124
834693
54
747
II. Profit and Loss Account  
Expenses
Account 60 - Staff Costs
The remuneration of staff in empLoyment excLudes that reLating to  
investment which is charged to the reLevant account items.

- 62 -
1. Staff expenditures  
Wages and salaries  
Pensions
Operation and traffic  
Rolling stock and machine power  
Ways and works  
Others2 794 
2 400
Social charges  
Total
2. Staff and staff expenditures Expenses
General administration233 
5 427 
Numbers
268 263 
989 1 457  
809 1 214  
530 933 
198 251
Total 2 794 4 118
Account 62 - Taxes and Dues are
Municipal payroll tax,
Municipal trade tax and  
Property tax21
20
_1_
42
Accoutn 64 - Allocations to provision accounts
Allocation to Insurance Fund  
Allocation to Reserve Fund33
163
196
Revenue
Account 74 - Compensation and Aid Received
Regulation (EEC) N° 1191/69  
Regulation (EEC) N° 1192/69Passenger traffic  
Family allowances  
Superannuation and pensions  
Level crossings
Lack of normalization in the past  
Too much collected in 1977
Regulation (EEC) N° 1107/70 - Infrastructure cost1 646 
40 
1 753 
19 
5
- 73
1  744
1 332
Profit and Loss Summary
91.7 Loss for the Financial Year
See the Notes to Balance Sheet Account 07.1.

- 63 -
NEDERLANDSE SPOORWEGEN (NS)

UNTERNEHMEN  : NSBILANZ
AM 3 1 .1 2 .1 9 8 1TA3E. LE SA  
(M li HFL)
AKTIVA 1981 1980 PASSIVA  | 1931 iS30
ANLAGEVERMOEGEN
SACHANLAGEN (NETTOWERTE) 4151 GRUNDKAPITAL UND RUECKLAGEN  |
10 GRUND STUECKE U N D  
ORTSFESTE ANLAGEN
11 FAHRZEUGE2 426
9991870
82800 GRUNDKAPITAL  |
01 RUECKLAGEN  | 1484
885 2369 2484
012
12 SONSTIGE ANLAGEN U N D  
FAHRZEUGE
13 ANLAGEN IM BAU 726 97002 BAUKOSTENZUSCHUBSSE
FUER INVESTITIONEN  |
03 RUECKSTELLUNGEN  |871
65699
91
FINANZANLAGEN
14 KAPITALBETEILIGUNGEN AN  
ANDEREN UNTERNEHMEN
15 LANGFRISTIGE DARLEHEN
16 FMISSIONS-UND RUECKZAHLUNG-  
KOSTEN FUER ANLEIHEN
17 SONSTIGE ANLAGEWERTE315
9571272
1451
01804 PERSONAL FONDS  |
05 LANGFRISTIGE VERBIND-  | 
LICHKEITEN  |
- OEFFENTLICHE ANLEIHEN  |
-  STAATLICHE ANLEIHEN  |
-  SONSTIGE LANGFRISTIGE  | 
VERBINDLICHKEITEN  |12C4
32
967227
203
131
225
38
664
TEILSUMME 5423 5137 TEILSUMME  | 5535 5244
UMLAUFVERMOEGEN
MATERIALVORHAETE 253 201
20-21
REALISIERBARES UMLAUFVERMOEGEN 350
30 FORDERUNGEN 255 248
41 DARLEHEN MIT EINER LAUFZEIT  
VON WENIGER ALS EINEM JAHR
42 WECHSELVERBINDLICHKEITEN95 168 KURZFRISTIGE  | 
31 VERBINDLICHKEITEN  | 413 472
45 WERTPAPIERE
VERFUEGBARES UMLAUFVERMOEGEN 35 6740 'VERBINDLICHKEITEN VON  1  
WENIGER ALS EINEM JAHR  I  
44 WECHSELVERBINDLICHKEITEN  |143 134
4 3 -4 6 -4 7 -4 8
TEILSUMME 638 684 TEILSUMME  | 556 606
ERGEBNISSE 30 ERGEBNISSE  | -
0 6 .1  VERLUSTE AUS VORJAHREN - - 0 6 .0  GEWINNE AUS VORJAHREN  i - -
0 7 .1  JAHRESVERLUST 30 29 0 7 .0  JAHRESGEWINN  | - -
AKTIVA INSGESAMT 6091 5850 PASSIVA INSGESAMT  | 6091 5850

GEWINN- UND VERLUSTRECHNUNG TABELLE SB
UNTERNEHMEN  : NS
I .  ALLGEMEINER BETRIEB MIO HFL JAHR 1981
I  AUFWENDUNGEN  J 1981 | 1980 | ERTRAEGE  | 1981 1 1980 !
1  60 PERSONALAUFWENDUNGEN  | 1 535 | 1 482 | 70 VERKEHRSERTRAEGE \ 1 1 1
1  1 1 1 1 963 | 11  61 MATERIAL UND LEISTUNGEN  | 701 | 618 | 0.PERSONEN-UND GEPAECKVERKEHR  | 1 1 I
1  DRITTER  | 1 1 A . SCHIENE  ' j I 963 | 859 |
| 62 STEUERN U ND ABGABEN  | 5 1 5 ! fl. STRASSE  | 1 1
1  1 1 1 C . MIT ANDEREN VERKEHRSMITTELN  | 1 ]_ j
1  63 ABSCHREIBUNGEN  | 239 1 215 | | i
1  1 1 1 1.CUETERVSRKEHR  | 1 326 | 
11
1  64 ZUWEISUNGEN AN RUECKSTELLUNGEN  | 169 | 159 | A . SCHIENE  | 1 326 !
1  1 1 1 I .  IN  ZUEGEN UND WAGENLADUNGEN  | 301 | 1 1
1  65 FINANZLASTEN \ 182 | 143 | -  INLANDSVERKEHR  | 105 i 1 102 |
1 1 -  INTERNATIONALER VERKEHR  | 196 1 1 194 |
1  1 1 1 I I .  STUECKG’ JT  | 5 1 f1
1  1 1 1 -  INLANDSVERKEHR  | 1 1 i 1 |
1 1 -  INTERNATIONALER VERKEHR  | 4 1 1 4 1
1 1 B . STRASSE  | 20 | .1 20 |j j1 1 C. MIT ANDEREN VERKEHRSMITTELN  | 1 - 1
I111
1|2.POSTVERKEHR  |1
I1
24 |I
25 |
1  1 1|!ITEILSUMME  | !--------- | -
1 
313 | 1 205 |
I11171 FINANZSRTRAEGE  |1
11
107 !!
106 1
1t|1|72 SONSTIGE ERTRAEGE  |1
11
76 |1
72 i
1  1 173 GEGENWERT DER ANDEREN KONTEN WEITER-  |1
11
271 i!
247 |
1 1 BELASTETEN AUFWENDUNGEN  | ! 1 1
1  1 1 1  74 AUSGLEICHSZAHLUNGEN UND BEIHILFEN  | 1 1 i
1  1 1 1 GfMAE SS \ 1 1
1  1 1 1 0.VERORDNUNG {EWG) NR  1191/69 | 1 817 1 808 | '
1  1 1 1 1.VERORDNUNG {EWG) NR  1192/69 | 1 47 1 45 1
1 1 2.VERORDNUNG {EWG) NR  1107/70 | 1-1 |
1  1 1 1 3.ANDERE AUSGLEICHSZAHLUNGEN UND \ 1-1 |
1  1 1 1 BEIHILFEN  | 1----------  I -----------  1
1  1 1 1 TEIL SUMME  | 1 864 | 853 1
1  BETRIEB SA UFWENDUNGEN INSGESAMT \ 2 831 11
2 622 | BETRIEBSERTRAEGE INSGESAMT  | I 2 531 | 2 483 I
i 9 1 .0  BETRIEBSGEWINN DES  j I  9 1 .1  BETRIEBSERTRASGE INSGESAMT \ 1 200 | 
1139 1
1  GESCHAEFTSJAHRES  | 1 1 1 1
I I .  ZUSAMMENFASSUNG VON "GEWINN U ND  VEPLU Sf
1  9 1 .1  BETRIEB SERTRAEGE INSGESAMT \
1  9 1 .3  AUSSERORDENTLICHE VERLUSTE \  
| 1200 I  
1139 | 91 
1  910 BETRIEBSGEWINN DES  | 
GESCHAEFTSJAHRES \ 
2 AUSSERORDENTLICHE GEWINNE  j1
1
11 1
!  9 1 .4  KOERPERSCHAFTSSTEUERN  | 
1  1  
1  11
1
1I
1  91
1
11
5 ZUSCHUSS ZU M  HAUSHALTSAUSGLEICH  |
-  VERORDNUNG {EWG) NR  1107/70 ART .4  |
-  ANDERE  |1
1
1  1701
170 I  
1
11
1
110 |
1  9 1 .6  GEWINN DES GESCHAEFTSJAHRES  | 
1  1 I1  91 
17 BETRIEB SERTRAEGE INSGESAMT  |
11
130 | 
129 1  
1

-  66
N S  - F IN A N C IA L  Y E A R  1 9 8 1
Explanatory Notes 
Figures are given in millions of H F L . 
I. B A L A N C E  S H E E T
Account 00 - Capital
T he company's share capital consists of H F L  1  m rd  divided into 
one million shares of H F L  1  000 each, of w hich H F L  484.4 m io w ere issued 
and paid u p  as at 3 1  D ecem ber 1981.
Account 0 1  - Reserves
This account contains in particular the following :
General reserve 966 
Revaluation reserve 662 
Investment reserve 119 
Reserve for shareholdings 1 6 8
T he revaluation reserve is adjusted by :
(i) the supplementary depreciation of fixed assets used specifically for 
the goods traffic,
(ii) the differences resulting from  the revaluation of stocks at the estimated 
price level at the start of the next financial year,
(iii)  the differences in the value of foreign currency loan w hich have not been 
repaid.
T he investment reserve is adjusted by the non-repayable investment grant from  the 
state, w here durable assets are concerned.
T he reserve for shareholdings is adjusted in connection with changes in NS's 
share of the intrinsic value of the majority and minority shareholdings, unless 
these changes are caused by expansion or contraction.
Account 0 2  - Contributions to Investment Costs
This account contains the investment grants from  the State and the 
prem ium s paid in accordance with the "W et Investeringsrekening (W IR)".

- 67 -
Account 0 3  - Provisions
This account consists of provisions for :
maintenance of fixed assets 
Reorganization of freight traffic and 
Other provisions
It includes provisions for the equal distribution of certain 
charges and the cover of specific risks.
Account 0 4  - Funds for Staff
This item consists of a  provision for early retirement pensions (a 
percentage of the total am ount of pension contribution is paid into this 
reserve each year) and pension com m itm ents w hich are not covered by the 
railway's pension fund. T he contribution to this fund is included in the 
pension cost of Account 60. T he State also contributes to the railway's 
pension fund.
Account 0 5  - Long-Term  Financial Debts
These are debts w hich still have m ore than a  year to run. T h e annual 
repayments w hich have to be m ad e on the long-term loans in the next year are 
included under Account A O .
T he debts are entered at nominal value.
Foreign currency loans are converted at teh latest exchange rate in 
1981. The exchange difference is entered in the Account 01.
T he valuation of the future liabilities forming part of this account 
is mainly based on cash value calculations.
This account does not include debts to companies in w hich N S  has 
a  shareholding.

-  68  -
Long-Term  Assets --------- ...
T h
e assets are Listed at acquisition value Less the calculated depreciation 
based on the num ber of years of useful econom ic life w hich have elapsed. L and is 
not depreciated.
Account :
Prim o value 
+  increase
- decrease
- depreciation 
Ultimo value
Account 1 0  - Expenditure on the maintenance of permanent w a y  (except on streng­
thening) is charged to the operational Account 64.
Account 1 1  - includes stock and equipment obtained from  Eurofina on hire purchase. 
T he obligations towards Eurofina are entered under Account 05 and the
redemption of these obligations in the com ing year under A ccount 40.
Account 1 2  - Purchases of machinery, tools and service vehicles are deprecia­
ted in the course of the year (H F L  30.4 mio).
Account 1 3  - Fixed Assets under Construction
Expenditure w hich should not appear on the assets side is deducted 
from  the expenditure incurred. Depreciation com m ences on entry into service.
Land and fixed installations 502
Transport stock and equipment 218
Other stock and equipment 6
726
Account 1 4  - Shareholdings in Other C om panies
T he value of the shareholdings in other companies is estimated as N S ' share 
at the intrinsic value sh o w n  in the m ost recently published Balance Sheets of the 
companies in question "Intrinsic value" m eans o w n  capital listed in the annual 
accounts, with due allowance for profit or loss, (see table above).1  870
686
130
2  42611
828
244
7 2
99912
3 1
3 11 3
970
244
7261 4
4 5 1
2 8
164
31510

- 69 -
Account 1 5  - Long-Term  Loans
These L oans mainly include :
(a) claim on the State for losses prior to 1976
(b) financing of n e w  lines
(c) loans granted862
8 2
13
(including H F L  2.1 m io to a com pany in w hich N S  has a shareholding)
Except for the unquoted stocks and shares com ing under this acocunt, the 
claims are listed at nominal value. T he unquoted shares are valued at the estimated 
proceeds from  sale, not exceeding the nominal value.
Account 20 - Stocks
T h e stocks are intended virtually exclusively for the maintenance and 
renewal of fixed installations and transport stock and equipment.
They are valued at the 1  January 1982 price level, less a  provision for 
obsolescence. A n y  price differences are credited to or debited from  the Reserve 
for Revaluation Account 01.
T he revaluation of stock as at 3 1  D ecem ber 1981 gave rise to an increase 
in the balance sheet value of F L  15.5 mio.
Account 30 - 3 1  - Debitors and Creditors
These accounts are taken u p  to nominal value on debitors less the 
provisions considered necessary.
Account 40 - Financial Debts of Less than O n e  Y ear T erm
This account covers the redemption in the com ing year fcr loans with a  
remaining term of m ore than one year.
Repayments of foreign-currency loans are converted into H F L  at the 
latest exchange rate in 1981. T he exchange difference is charged to o w n  
capital under the Reserve for Revaluation (Account 01).
Account 4 1  - Loans repayable within a  Y ear
This account lists the part of the claim on the State resulting from  
accumulated losses prior to 1976 and falling due in the com ing year (H F L  65.3 m io) 
and short-term investments. T he short-term claims are listed at nominal value.

- 70 -
Account 43 - 48 - Liquid Assets
T he Liquid assets are Listed at nom inaL  vaLue.
II. Profit and Loss Account
Account 60 - Staff Costs
T he su m  entered in this account can be broken d o w n  as foL L ow s :
Remuneration 952
SociaL charges 559
Other staff costs 2 4
Staff costs can be broken d o w n  into five categories :
Remuneration Average num ber of staff in 1981
G eneraL administration
Operation
R oL L ing stocks
Infrastructure (Constr. +  Mainten.) 
Other102
5 4 5
109
1 8 2
1 32  5 9 1  
16 278
3  455 
5  270
363
952 2 7  957
T he social charges of 559 m io H F L  include the empLoyers' pension contributions
(paid to the N S  Independent Pension F und) -136.9 m io H F L  - and an aLLocation to the
provision for earLy retirement - 44.7 m io H F L .
Account 6 1  - Material SuppLied and Services Performed by Third Parties
This account includes :
(a) supplies from and maintenance by third parties 
of which for fixed installations
for rolling stock
(b) the costs of electricity, fuel and communications
(c) the costs of automatic data-processing160
134336
2 5 5
43
Account 62 - Taxes and D u es 
This account incLudes
non-deductibLe V A T , property tax, environmentaL taxes and other deductibLe taxes.

- 7 1  -
Account 6 5  - Allocations for Depreciation
This item contains depreciation on the basis of the acquisition value
(a) depreciation allocation
(b) additional depreciation (in goods tra ffic^
(c) expenditure w hich should not be show n on the 
assets side
(d) book value losses1 8 5
3 0
4 1
7
Account 6 4  - Allocations to Provision Accounts 
This account covers allocations :
(a) to the provision account for the maintenance 
of the permanent w a y
(b) for the modification and improvement of rolling stock
Account 6 5  - Financial Charges
This account covers the interest paid, less the cost of financing n e w  lines 
w hich should be entered on the asset side.
Account 7 1  - Financial Revenue
Apart from interest received this account includes the corporation tax for 
1980 transferred to N S  in 1 9 8 1  by its consolidated subsidiaries; n o  corporation 
tax w as due from N S  in 1980 because of its deficit.152
5
Account 72 - Other Revenue
This account also inludes general expenses, direct w ages and the indirect 
cost of material charged to third parties (H F L  20 mio).
Account 73 - Contra of costs
This account includes the costs entered in Accounts 60 and 6 1  and charged to 
fixed assets, provisions or third parties, e.g. the estimated costs of preparation 
and supervision involved in carrying out works.

- 7 2  -
Account 74 - Compensation and A id 
74.0 Regulation (E E C ) N °  1191/69
Maintenance of passenger traffic 817
74.1. Regulation (E E C ) N °  1192/69
Crossing facilities 47
Account 91.5 - Balancing subsidy
- Regulation (E E C ) N o. 1107/70, art. 4  170
Account 91.7 - Operating Loss for the Financial Y ear
N S  recorded a  loss of H F L  30 m io in 1981. This am ount relates to the 
additional depreciation of fixed assets used exclusively for goods traffic. 
T he state contribution to goods traffic for 1 9 8 1  (F L  169.6 m io) and the 
planned adjustment of the compensation for public service obligation in 
1 9 8 1  (together F L  1.1 m io) are also included under this account.

4
- 72 a  -
S O U R C E S  A N D  A P P L IC A T IO N  O F  F U N D S  S T A T E M E N T
Y E A R  1 9 8 1
Sources 1 9 8 1 1980
00 and 0 1 CapitaL and reserves - 128 5 1
02 Contribution to investment costs 1 7 2 204
0 4 F und for staff - 4 2
0 5 Long-term financial debts 276 182
1 4  and 1 5 Other fixed assets 198 3 5
3 1  and 4 0 Short term debts - 5 1 3 5
6 3 Allocations for depreciation 239 2 1 5
T O T A L 702 7 2 4
Applications
0 3 Provisions 2 5 12
10, 11, 1 2 and 1 3  Fixed assets 693 6 3 1
20 and 2 1 Stocks 5 2 1 7
30 and 4 1 Realizable assets - 66 3 2
43, 46, 4 7 and 48 Liquid assets - 3 2 3
0 7 Losses 30 2 9
T O T A L 702 724

- 73 -
B R IT IS H  R A I L W A Y S  B O A R D  (B R B )

UNTERNEHMEN  : BEBBILANZ
AM 3 1 .1 2 .1 9 8 1TA3ELLE  9A 
(,MIO USL)
1  AKTIVA  | 1981 1980 PASSIVA 1981 1980
I  ANLAGEVEPMOEGFN \ 1 1
1  1  
I  SACHANLAGEN (NETTOWERTE)  1 11 030 ,8 GRUNDKAPITAL UND RUECKLAGEN1
1
1  i  
1  10 GRUND STUECKE U N D  | 
1  ORTSFESTE ANLAGEN  1  
1  11 FAHRZEUGE \3 2 4 ,2  l  
618 13 0 1 ,7
5 4 9 ,400 GRUNDKAPITAL
01 RUECKLAGEN1
6 6 8 ,2  1 588, 2 548 ,6
1  1  
1  12 SONSTIGE ANLAGEN U ND  1  
| FAHRZEUGE \ 
1  13 ANLAGEN IM BAU  1\
8 8 .6  |
I8 3 ,2 02 BAUKOSTENZUSCHUESSE  
EUER INVESTITIONEN
03 RÜCKSTELLUNGENi
1
1
1
I_3 5 ,5
1  FINANZANLAGEN  1
1  ----------------------- 1
1  1 1 +  KAPITALBETEILIGUNGEN AN  | 
1  ANDEREN UNTERNEHMEN \ 
| 15 LANGFRISTIGE DARLEHEN  | 
1  1  
1  16 miSSIONS-UND RUECKZAHLUNG-  1  
| KOSTEN FUHR ANLEIHEN  | 
1  17 SONSTIGE ANLAGEWERTE  11
I
1
3 5 8 .1  | 
1
2 .7  |
1
13 60,8
359
4 ,804 PERSONALFONDS
05 LANGFRISTIGE VERBIND­
LICHKEITEN
-  OEFFENTLICHE ANLEIHEN
- STAATLICHE ANLEIHEN
-  SONSTIGE LANGFRISTIGE  
VERBINDLICHKEITEN1
1
1
1
1
460 1  
1
1 8 1 ,5  1  
i17 ,7  
541 ,519 ,3
4 2 9 ,5
161 ,3
1  r  
| TEIL SUMME \ i1 391 .6 1 2 9 8 ,1 TEIL SUMME 1  i 327 ,4 1 1 9 4 ,2
1  1  
i t 
I  UMLAUFVERMOEGEN \1
11
1
1
| MATERIAL VORRAETE  I
| .............  ........1I18
1 ,5 187 ,7 1
J
1  20-21 | 1 1I1  1  
| REALISIERBARES UMLAUFVERMOEGEN  1 1 168 .3 1
1
!  30 FORDERUNGEN \ 1 6 7 ,8  | 1 7 2 ,2 1
|
1  1 + 1  DARLEHEN MIT EINER LAUFZEIT  1  
1  VON WENIGER ALS EINEM JAHR \  
| 42 WECHSELVERBINDLICHKEITEN  |.5  1  
11 .8 KURZFRISTIGE  
31 VERBINDLICHKEITEN1
1
469 |
I402
I  i 
I  45 WERTPAPIERE \
1  1-
i VERFUEGBARES UMLAUFVERMOEGEN \1
.................... 1
1 25 8
.440 VERBINDLICHKEITEN VON  
WENIGER ALS EINS4 JAHR  
44 WECHSELVERBINDLICHKEITEN4 2 ,1  1  
1
I107,3
\ - ...............................  1
| 
4 3 -4 5 -4 7 -4 8  |1
1 1
1  1  
| TEILSUMME  j1  —
1 374,8 3 7 0 ,1 TEILSUMME 1 5 11,1 5 09,3
| ERGEBNISSE  | 1 7 2 ,1 ERGEBNISSE 1 -
1  1  
!  0 6 .1  VERLUSTE AUS VORJAHREN  } 3 4 ,9  i - 0 6 .0  GEWINNE AUS VORJAHREN -
i 1  
| 0 7 .1  JAHRESVERLUST \!
3 7 .2  1 3 5 ,3 0 7 .0  JAHRESGEWINN -
1  i- 
1  AKTIVA INSGESAMT  |
1  111 838,5 1 703 ,5 PASSr/A INSGESAMT 1  i 838 ,5  1 1 7 0 3 ,5  1

GEWINN- UND VERLUSTRECHNUNGTABELLE  93
UNTERNEHMEN  : BRB
I .  ALLGEMEINER BETRIE3  
ERTRAEGEMIO U KL  
1981JAHR  : 1981 
1980AUFWENDUNGEN  
60 PERSONALAUFWENDUNGEN1981 1980
61 MATERIAL UND LEISTUNGEN  
DRITTER
62 STEUERN U N D  ABGABEN
63 ABSCHREIBUNGEN
64 ZUWEISUNGEN AN RUECKSTELLUNGEN
65 FINANZLASTEN1 663 ,2  
1 1 14.7 
,1
1 38.5
691 4 9 1 ,3  
1 1 0 4 ,8
1 1 9 ,4
6 0 ,770 VERKEHRSERTRAEGE
0 . PERSONEN-UND GEPAECKVERKEHR
A . SCHIENE
B . STRASSE
C . MIT ANDEREN VERKEHRSMITTELN
1. GUETERVERKEHR
A . SCHIENE
I .  IN  ZUEGEN U ND  WAGENLADUNGEN
-  INLANDSVERKEHR
-  INTERNATIONALER VERKEHR  
I I .  STUECKGUT
-  INLANDSVERKEHR
-  INTERNATIONALER VERKEHR
B . STRASSE
C . M IT ANDEREN VERKEHRSMITTELN
2 . POSTVERKEHR
TEILSUMME
71 FINANZERTRAECE
72 SONSTIGE ERTRAEGE
73 GEGENWERT DER ANDEREN KONTEN WEITER­
BELASTETEN AUFWENDUNGEN
74 AUSGLEICHSUHLUNGEN U ND  BEIHILFEN  
GEMAESS
0 . VERORDNUNG (.EW G) NR  1191/69
1. VERORDNUNG (EWG) NR  1192/69
2. VERORDNUNG (EWG) NR  1107/70
3 . ANDERE AUSGLEICHSUHLUNGEN UND  
BEIHILFEN
TEILSUMME5 01,3
6 7 .41 091 ,9
568,71 091,9
613 ,7
1 5 ,7
2 9 ,3
51,7 
1 757,3 
1 .7  
102,3 
255,9
810 ,2
1 7 ,4
3 ,5
831,11 020,2
15
28
4 9 .4
1 6 6 1 ,4  
5 ,9  
110,7 
2 69,4
633,6
15 ,2
3 .5
6 52,3
BETRIEBSAUFWENDUNGEN INSGESAMT 2 9 8 5 ,5 2 7 7 6 ,2 BETRIEBSERTRAEGE INSGESAMT  
9 1 .1  BETRIEBSERTRAEGE INSGESAMT2 948 .3  
37 ,22 6 99,7 
7 6 ,59 1 .0  BETRIEBSGEWINN DES  
GESCHAEFTSJAHRES
I I .  ZUSAMMENFASSUNG VON " GEWINN UND VERLUST"
| 9 1 .1  BETRIEBSERTRAEGE INSGESAMT  | 
| 13 7 ,2  1
17 6 ,5  1  9 1 .0  BETRIEBSGEWINN DES  1  
| GESCHAEFTSJAHRES  1 1  1 1
| 9 1 .3  AUSSERORDENTLICHE VERLUSTE  1 i 9 1 .2  AUSSERORDENTLICHE GEWINNE  j
| | |1  I  
1  9 1 .4  KOERPERSCHAFTSSTEUERN  1  
1  1  
1  11
11  9 1 .5  ZUSCHUSS ZUM  HAUSHALTSAUSGLEICH  I  
| -  VERORDNUNG (EWG) NR  1107/70 ART.U  | 
| -  ANDERE  1i
!
1  9 1 .6  GEWINN DES GESCHAEFTSJAHRES  | 
1  1 1| 9 1 .7  BETRIEBSERTRAEGE INSGESAMT  1
1  I1  3 7 .2  1  
1  17 6 ,5  1  
1

- 76 -
B R B  - F IN A N C IA L  Y E A R  1 9 8 1
Explanatory Notes
Figures are given in millions of U K L .
I. General
1. Property let or held for sale is not amortized, in view of the 
continuing appreciation of property values. These properties have been 
revalued on an open market basis as at 3 1  D ecem ber 1978 and the revised 
value included in the capital account. T he surplus ( U K L  9 7  m io) on reva­
luation and on sales of non-operational property w ere transferred to the 
Capital Reserve account.
2. Leased Assets
Rolling stock, ships and plants and equipment acquired under leasing 
arrangements are included in fixed assets and amortised in the norm al w ay. 
This capital element is included under the heading Loans and Leasing Liabi­
lities and reduced by the value of the capital proportion of lease payments; 
the remainder of the tease payments is charged to the Account 65.
3. Special Replacement Allowance
A  su m  of U K L  80.3 m io for the Special Replacement Fund, received as 
Public Service Obligation support, has been entered under "Provision for 
Replacement of Rail Passenger Assets". It has then been transferred to 
the Capital Reserve (Account 01).
4. T he accounts of those activities in course of disposal (privatisation) 
(Sealink U K  Ltd., British Transport Hotels Ltd., B.R. Hovercraft Ltd. and 
N o n  operational Property) are n o w  consolidated in the B.R.B. Accounts for 
1981. Notes to accounts 1 4  and 7 1  identify this change.

- 7 7  -
II. Balance Sheet 
Assets
Accounts 10 to 1 3  - Fixed Assets
T he am ounts included are m ad e u p  as follows :
Account 10 11 U total
Value first of year 301.7 549.4 83.2 934.3
+  purchases and additions 42.6 106.4 21.2 170.1
- Disposals/transfers 9.3 2.5 3.6 15.4
- Depreciation 10.8 35.3 12.1 58.2
Value end of year 324.2 618.0 88.6 1  030.8
T he Capital Accounting Policies are broadly as follows :
Assets not included in above table
- Rail infrastructure (track, signalling, pow er supply and telecommunications) 
assets are not capitalised, except for significant expenditure on n e w  routes 
or n e w  electrification schemes.
- Expenditure incurred prior to 1963 on assets sh o w n  under Account 10 is not 
capitalised.
- Assets covered by 2.2 below but w here the expenditure falls below m in im u m  
monetary limits (i.e. U K L  2 5  000 for assets in Account 1 0  and U K L  1  000 for 
assets in Accounts 1 1  and 12) are not capitalised.
Assets included in above table
- All other expenditure on assets w hich have a continuing benefit (i.e. in 
excess of one year) to the B.R.B. is capitalised at historic cost.
- Depreciation is provided on this expenditure over periods related to their 
estimated useful lives.

- 7 8  -
Account 1 3
These am ounts are included in Accounts 10, T 1  and 12.
Account 1 4  - Shareholdings in Other C om panies
T he su m  of U K L  358.1 m io is the total book value of shareholdings in 
other undertakings.
Account 20 and 2 1
Rolling stocks 134.1
Civil engineering 26.2
Signal and telecommunications 10.8
Fuel 3.2
Scrap stocks 4.9
Miscellaneous 24.4
Less Accounting provisions - 30.6
173.0
Stocks are valued mainly at cost, on an average purchase price basis reduced 
by a  provision against obsolescence. Scrap stocks are valued at estimated 
realizable value.
Liabi lities
Account 0 1  - Reserves
Capital reserves 
General reserve 
Insurance reserve594.5
67.7
6.0
668.2

- 79 -
Account 0 3  - Provi sions
B y  reducing the net book value of certain assets with U K L  20 m io 
( U K L  10 m io Rail, U K L  1 0  m io Sealink U K  Ltd.) and transferring U K L  6.6 m io 
to General Reserve (account 01), the general obsolescence provision has been 
reduced to nil. T he insurance provision has been reduced to nil during the 
year with U K L  6  m io being transferred to Insurance Reserve (account 01).
Account 3 1  - Creditors
Interest due on capital liabilities to secretary of state 14.0
Creditors and debts outstanding 455.0
469.0
III. Profit and Loss A ccount 
Expenses
Account 60 - Staff Costs
T he m ain item in this account is gross staff costs w hich include :
Salaries and w ages 
Pension Costs
Other Social Charges
- National Insurance
- Other136.3
64.41  394.9 
67.6
2 0 0 .7
1  663.2
Pension Costs are the Board's contribution to Pension Funds as employers.
CostApproximate
N um bers
RaiIway
Salaried - Administrative, technical and clerical 
and Police
W ag es - Operations and Traffic 
Rolling Stock 
Permanent W a y  
Others ·
Other Businesses British Rail Engineering Ltd
Freightliner 
Rail catering 
Other404.5 50000
550.1 68000
178.0 22000
218.4 2 7000
24.3 3000
227.8 3 5000
22.2 2000
31.0 5000
6.9 1000
1  663.2 213 000

- 80 -
Account 6 1  - Material Supplied and Services Performed by Third Parties
Fuel and Pow er
O i l
Electri city
Materials, supplies and services122.3
73.0 195.3
919.4
1  114.7
Account 6 2  - Taxes and D u es
A  standard rate of 1 5  %  is applied to all positively rated railway 
traffic. V A T  is included in the cost of m ost services performed by third 
parties and also on the cost of supplies and equipment.
Every three m onths a  settlement of the differences between the V A T  
collected and that paid. T he V A T  is dealt with through a  suspense account
system and is not included in the published accounts.
Account 6 5  - Financial Charges
Interest payable to G overnm ent 50.2
Other interest charges 20.7
Less am ount paid externally 
by Sealink U K  Ltd. (2.8) 17.9
Leasing charges 0,9
Revenue69.0
Account 70.0 - Passenger and Luggage Traffic 
(a) R ai l
1  022.4
46.2
21.3Passenger fares 
Station catering 
Train catering
1  091.9

-  81 -
Account 70.1 - G oods Traffic
International traffic includes only w ag o n  traffic using ferries 
i.e. traffic carried by rail outside the B R B  system.
Account 7 1  - Financial R evenue
N o n  operational property, operating surplus 9.0
Sealink U K  Ltd. Loss after interest (9.6)
B R  Hovercraft Ltd. Loss after interest (2.3)
B R  Hotels Ltd.
Interest received 1.4
Other 3.2
1.7
Account 72 - Other R evenue 
Revenue from  :
Railway workshops external sales   25.2
Operational property - letting 39.1
Transmark 5.1
Miscellaneous 32.9
102.3
Account 73 - Contre of costs 
T o  account
60. Staff Cost
61. Materials supplied and Services performed 
by third parties
Fuel and Pow er 0.569.4
Materials, Supplies and 
Servi ces 183.5
63. Depreciation
Account 74 - Compensation and A id
74.0 Compensation for public service 
obligations
74.1 Compensations for crossing facilities
74.2 Research grants184.0
2.5 
255.9
810.2
17.4
3.5

- 82 -
SOURCE AND APPLICATION OF FUNDS  
BRITISH RAILWAYS BOARD - TOAftigfli
SOURCE OF FUNDS
Increase in equity of shareholders  
Other increases from shareholders
Funds for staff
Long-term financial debts
- debentures
- state loans
- other
Internally generated  
Sale of scrap assets  
(Loss)
Funds from non-consolidated businesses
(Loss)
Other
Adjustment for items not involving the
movement of funds________________________
Depreciation and amortisation  
Transfer to non-consolidated businesses£m.
(1.6)
50.0
20.3
9.3
C3li.3]
(2.9)
2it.8
138.5
(10.0'Balance Sheet  
Account No.
00, 02
Oli
05
0 1 , 10
07
07
01, 10, 11,  12
03, 10, 11, 12
19U.1
APPLICATION OF FUNDS
Decrease in equity of shareholders  
Repayments of long-term financial debts  
Purchase of assets
- fixed assets
- shareholdings in other undertakings  
Working Capital
Current Assets - increase/(decrease)
- stocks in store and being manufactured
- debtors
- loans repayable within one year
- bank balances and cash
Current liabilities - (increase)/decrease
- creditors
- financial debts of less than one year
Other19.5
170.1
(0.9)
(6.2)
(6.5)
(1.3)
16.6
(6U.1)
65.2
1.7
19U.10 0 , 02
05
10, 11, 12, 13
1U
20, 21
30
U 1
31
liO

BRITISH RAILWAYS BOARD
TRACK & ROUTE STRUCTURES
SIGNALLING fit TELECOMMUNICATIONS
ELECTRIC TRACK EQUIPMENT St DISTRIBUTION
INFRASTRUCTURE -  PLANT fit EQUIPMENT
TERMINAL BUILDINGS
OTHER BUILDINGS
EMERGENCY EQUIPMENT
USE GF ROLLING STOCK
OTHER
ADMINISTRATIONEXPENDITURE C M  INFRASTRUCTURE
1981
CAPITAL
EXPENDITUREOPERATION fit 
MAINTENANCE TOTAL
£m . £m . £m .
1 8 7 .1 ) )
) 3 9 3 .8  
6 9 . 3  )6 5 0 .5
1 2 . 9 2 2 . 0 3 1 ).9
( 0 . 1 ) - ( 0 . 1 )
1 2 .8 2 7 . 0 3 9 . 8
- 6 . 3 6 . 3
- 3 . 0 3 . 0
- 1 6 . 7 1 6 . 7
1 1 .3 1 1 . 3
3 2 . 3 6 6 . $ 9 8 . 8
3 1 1 ).6 5 1 )6 .6 861.21980
CAPITAL OPERATION fit
EXPENDITURE MAINTENANCE TOTAL
£m . £m . £m .
181.8 )
) 3 5 1 ).U 601). 7
6 8 . 5 )
1 3 . 2 1 9 .6 3 2 . 8
( 0 . 1 ) - ( 0 . 1 )
1 5 . 6 2 7 .1 1 )2 .7
T 5 . 0 5 . 0
0 . 2 3 . 0 3 . 2
* 1 5 . 0 1 5 . 0
1 . 2 1 1 .1 ) 1 2 . 6
2 3 . 9 1 4 ).0 6 7 . 9
3 0 1 ).3 1 )7 9 .5 7 8 3 .8

- 8 4  -
N O R T H E R N  I R E L A N D  R A I L W A Y S  
C O M P A N Y  L T D . (N IR )

UNTEESEHMEN : NIE  
AKTIVA
ANLAGEVEEMOEGEN  
SACHANLAGEN  (NETTOWERTE)
10 GRUND ETUECKE U N D  
OETSFESTE ANLAGEN
11 FAHEZEUGE
12 SONSTIGE ANLAGEN U N D  
FAHRZEUGE
13 ANLAGEN IM BAU
FINANZANLAGEN
14 KAPITALBETEILIGUNGEN AN  
ANDEREN UNTERNEHMEN
15 LANGFRISTIGE DARLEHEN
16 FMISSIONS- U N D  RUECKZAHLUNG-  
KOSTEN FUEE ANLEIHEN
17 SONSTIGE ANLAGEWERTEBILANZ
AM 3 1 .1 2 .1 9 8 1  
1980TAB ’ LLE  10/ 
(0 '-0 UKL)
1981 | 1980 1981 PASSIVA
16 641 
8 820 
1 334
r
TEILSUMME \ 1  26 795 23958 |
i
UMLAUFVERMOEGEN \i
i---------- ----- |
MATSR
IALVORRAETE \ 4571
450 1
20-21 ! i
1
REALISIERBARES UMLAUFVERMOEGEN \ 1  1 4591
1
30 FORDERUNGEN \ 1 459 21
154 1
41 DARLEHEN MIT EINER LAUFZEIT  1  
VON WENIGER ALS EINEM JAHR  |
42 WECHSELVERBINDLICHKEITEN \ ; ;i
i
i
\
«  WERTPAPIERE \ - -1
1
\m
VERFUEGBARES UMLAUFVERMOEGEN  | 202 - i1
144 |
1
43-1*6-47-1*8 | i
TEIL SUMME  1 1  2 118 i460 |
ERGEBNISSE \ 22 i
0 6 .1  VERLUSTE AUS VORJAHREN  | - -1
i
1
0 7 .1  JAHRESVERLUST  | 22 314 |
1
AKTIVA INSGESAMT  | 
11  28 935 25732 I26 795 GRUNDKAPITAL U ND  RUECKLAGEN
00 GRUNDKAPITAL
01 RUECKLAGEN
02 BAUKOSTENZUSCHUESSE  
EUER INVESTITIONEN
03 RUECKSTELLUNGEN
04 PERSONALFONDS
05 LANGFRISTIGE VERBIND­
LICHKEITEN
-  OEFFENTLICHE ANLEIHEN
-  STAATLICHE ANLEIHEN
-  SONSTIGE LANGFRISTIGE  
VERBINDLICHKEITEN
TEILSUMME
KURZFRISTIGE
31 VERBINDLICHKEITEN
40 VERBINDLICHKEITEN VON  
WENIGER ALS EINEM JAHR  
44 WECHSELVERBINDLICHKEITEN
TEILSUMME
ERGEBNISSE
0 6 .0  GEWINNE AUS VORJAHREN
0 7 .0  JAHRESGEWINN  
PASSIVA INSGESAMT130 
5 782
100
2 268
95 912 
20 646
100
26 658
2 268 
9
28 935130
5 440
18 298
100
23 968
1 755
1 755
9
25 732

GEWISS- UND VERLUSTRECHNUNG TABELLE  103
UNTERNEHMEN  : «IR
I .  ALLGEMEINER BETRIEB  000 U}X JAHR  : 1981
AUFWENDUNGEN  1 1981 1 1980 ERTRAEGE  | 1981 1 1960
60 VERSOVALAUFWE^USG^H \ 5 446 1 5. 096 70VERKEHRSERTRAEGE  i 1 1
1 1 1 3667 |
Bl MATERIAL USD LEISTUNGEN \ 3 401 | 3 211 0.PERSONEN-UND GEPAECKVERKEHR  1 1 1
DRITTER  1 1 A . SCHIENE '  | 1  3 667 1 3 472
62 STEUERN UND ABGABEN  | | - B . STRASSE  i 1 1 -
1 1 C . MIT ANDEREN VERKEHRSMITTELN  | 1 1
83 ABSCHREIBUNGEN  1 28 1 28 1 1
1 1 1.GUETERVERKEHR  1 1 1074 |
64 ZUWEISUNGEN AN RUECKSTELLUNGEN  | 631 | 2 076 A . SCHIENE  1 i 1 074 1
1 1 I .  IN  ZUEGEN UND WAGENLADUNGEN  | 680 | 1
65 FINANZLASTEN  1 e 1 24 -  INLANDSVERKEHR  1 - 1 1
1 1 -  INTERNATIONALER VERKEHR  I 880 1 1 666
1 1 I I .  STUECKGUT  1 394 | 1
1 - INLANDS/ERKEHR  1 360 1 1 735
1 - INTERNATIONALER VERKEHR  1 34 1 1 27
1 1 8 . STRASSE  1 1 1 -
1 1 C. MIT ANDEREN VERKEHRSMITTELN  | i  ·
j1
j1
11
1 2.POSTVERKEHR  1 I|23 |
------ j19
1 1
I TEILSUMME  1 1i4764 1  
]4 919
1
11
1 71FINANZERTRAEGE  1 1
I54 | 
|13
1
1I
1 72SONSTIGE ERTRAEGE  1 1
1539 1
j2 011
1
1 73GEGENWERT DER ANDEREN KONTEN WEITER-  1 1 i -
1 1 BELASTETEN AUFWENDUNGEN  1 1 1
1 1 74AUSGLEICHSUHLUNGEN UND BEIHILFEN  | 1 1
1 1 GEMAESS  1 1
1 1 0.VERORDNUNG (.EW G) NR  1191/69 1 i s 610 1 2 965
1 1 1.VERORDNUNG (EWG) NR  1 192/69 1 1 89 1 90
1 2.VERORDNUNG (EWG) NR  1107/70 1 1  - 1 -
1 3.ANDERE AUSGLEICHSUHLUNGEN UND \ 1 4i>6 1 437
1 1 BEIHILFEN  1 1 —  1
1 1 TEILSIMME  1 I 4155 | 3 492
BETRIEB SA UFW EtfD U N  GEN INSGESAMT  i 9 512 1 10 435 BETRIEBSERTRAEGE INSGESAMT  i 1 9512 i 10 435
9 1 .0  BETRIEBSGEWINN DES \ - 911BETRIEB SERTRAEGE INSGESAMT  1 1 - 1 -
GESCHAEFTSJAHRES  | 1 1 1
I I .  ZUSAMMENFASSUNG VON "GEWINN U ND  VERLUST"
| 9 1 .1  BETRIEB SERTRAEGE INSGESAMT  | 
1  1  
1  9 1 .3  AUSSERORDENTLICHE VERLUSTE  |1
69 |1  9 1 .0  BETRIEBSGEWINN DES  I  
| GESCHAEFTSJAHRES  1  
1  B l. 2 AUSSERORDENTLICHE GEWINNE  1  
1  11  1  
1  |1
11  1  
1  9 1 .4  KOERPERSCHAFTSSTEUERN  | 
1  1  
1  11
-4 7  | 
1  
1314 | B l. 5 ZUSCHUSS ZUM  HAUSHALTSAUSGLEICH  1  
| - VERORDNUNG (EWG) NR  1107/70 A RT. 4 1  
1  -  ANDERE  11
| 9 1 .6  GEWINN DES GESCHAEFTSJAHRES \  
1  11  9 1 .7  BETRIEBSERTRAEGE INSGESAMT  | 
1  1| 22 1  
1  1314 | 
1

- 8 7
N IR  - A N N U A L  A C C O U N T S  C L O S E D  O N  2 8  M A R C H  1982
Explanatory Notes
Figures are given in thousands of U K L
1. Basis of Accounting
Accounts are prepared on the historical cost basis of accounting, 
whereby items are recorded at their values on the dates w h en  they w ere 
acquired or revalued, the liabilities w ere incurred or the capital obtained.
2. Fixed Assets
Fixed assets transferred to the C o m p an y  on the 1st April 1968 are 
included as valued on 29 M arch 1970 and other assets at cost.
3. Depreciation
Depreciation is not charged on expenditure on assets not yet in use. 
W ith the exception of signalling, bridges and permanent w ay, depreciation 
of fixed assets is charged so as to write them  off over their expected use­
ful lives at cost. In the case of signalling and bridges, expenditure is 
written off in the period in w hich it is incurred.
Depreciation is charged against reserves (account 64) in respect of 
all assets others than tw o items of plant and machinery on w hich depreciation 
is charged to profit and loss account 63.
4. Stocks
T he basis of valuation is the lower of average cost or estimated reali­
zable value. T he stocks include engineering materials and stores of fuel and 
oi l .

-  S 3 -
Account 6 4  - Allocation to provision account
Depreciation to reserve account 560
Fixed assets replacement reserve 7 1
6 3 1
Account 7 2  - Other revenue
Surplus on disposal of fixed assets 7 1
Catering · *  (17)
Other receipts 5 4
O n  cost 4 3 1
539

- 89 -
O R G A N I S M O S  S I D E R O D R O M O N  E L L A D O S  (O.S.E.)

BILANZ TABELLE  11A
UNTERNEHMEN  : OSE AM3 1 .1 2 1981 (MIO DSA)
| A XTr/A  1 1981 1 1980 1 PASSIVA 1981 1980 1
| ANLAGFT/EPMOEGEN  1 1 1 1|1 1
|
| SACHANLAGEN  (NETTOWERTE)  11
1 29393 | 11GRUNDKAPITAL UND RUECKLAGEN 1
|1
l
| 10 GRUND STUECKE U ND  1 22835 | 1 22887 i 00 GRUNDKAPITAL 29326 | 29 326 |
| ORTSEESTE ANLAGEN  1  
| 11 FAHRZEUGE  1 51
104 1 1 41
693 1 01 RUECKLAGEN -1
I 293251
j
| 12 SONSTIGE ANLAGEN UND  1  
| FAHRZEUGE  1  
| 13 ANLAGEN D i BAU  11
491 | 
1
963 1
I1
1
1
1
I1
489 | 
1
324 |
|02 BAUKOSTENZUSCHUSSES  
FUER INVESTITIONEN
03 RUECKSTELLUNGEN1
1
!
15744
134 703 1  
1
i l  1  
1
1 1 104 PERSONAL FONDS 1 -
| FINANZANLAGEN  1 1
1991 1  
11
105 LANGFRISTIGE VERBIND-1
1 1 *7311
!
| 14 KAPITALBETEILIGUNGEN AN  j  
j ANDEREN UNTERNEHMEN \4 1  
1i
14 1  
1LICHKEITEN
-  OEFFENTLICHE ANLEIHEN -!
j1
1
1  15 LANGFRISTIGE DARLEHEN  1 1
11
11
1 -  STAATLICHE ANLEIHEN1
21 ! 22 1
| 16 EMISSIONS- U N D  RUECKZAHLUNG-  
\ KOSTEN FUER ANLEIHEN  1  
i 17 SONSTIGE ANLAGEWERTE  11
1
987 |1
1
11
1
909 |-  SONSTIGE LANGFRISTIGE  
VERBINDLICHKEITEN41
710 | 
11
3 573 | 
1
| TEILSUMME  1 i 30384 | 29306 | TEILSUMME 1 39814 37 635 |
| UMLAUF7ERMOEGEN  I1
1
I1
1
I1
1
11
1i
1
1
I  MATERIAL VORRAETE  1 1
12615 1  
12272 | 
|1
1 1
1  20-21 1 1
!1
j1
|1
1
| REALISIERBARES UMLAUFVERMOEGEN  | t
j7993 l  
1!
j1
11
1
| 30 FORDERUNGEN  1 7993 1 1
I8223 1  
|1
11
1
I  41 DARLEHEN MIT EINER LAUFZEIT  1 - 1 1 - 1KURZFRISTIGE 1
|1
11  VON Wtitil(Stiti ALS RlH&M JAHR  ]  
| 42 WECHSEL VERBINDLICHKEITEN  | -1
iI
I -1
131 VERBINDLICHKEITEN 1895 !  
|2 909 1
1
t 45 WERTPAPIERE  1 -1
l1
11
21 1  
|40 VERBINDLICHKEITEN VON  
WENIGER ALS EINEM JAHR  
44 WECHSELVERBINDLICHKEITEN- !
1 1
| VERFUEGBARES UMLAUFVERMOEGEN  1 ! 717 j
I722 1  
|* !
1 1
1  4 3 -4 6 -4 7 -4 8  1 1 1 1 1 1
| TEILSUMME  11  —
1 11325 | 11238 | TEILSUMME 1 1895 2  909 1
1  ERGEBNISSE  1 1 - 1 1ERGEBNISSE 1
1* 1
1
| 0 6 .1  VERLUSTE AUS VORFAHREN \ - 1 1 - 10 6 .0  GEWINNE AUS VORJAHREN - 1
| 1
| 0 7 .1  JAHRESVERLUST  | -1
1 1 - 10 7 .0  JAHRESGEWINN -
| AKTIVA INSGESAMT \ 1 41709 1 i*051*4 | PASSIVA INSGESAMT 1 41709 1*0 544 |
I  —

GEWINN- U N D  VERLUSTRECHNUNG
UNTERNEHMEN  :  OSE
I .  ALLGEMEINER BETRIEB MIO DBA JAHR  : 1981
1  AUFWENDUNGEN  | 1981 | 1980 ERTRAEGE 19811 1980 !
| 60 PERSONALA UFW ENDUNGEN  | 6 991 | 5 412 70VERKEHRSERTRA EGE i I
1  1 1 1 2334 |
1  61 MATERIAL U ND  LEISTUNGEN  | 2 316 | 2 038 0.PERSONEN-UND GEPAECKVERKEHR 1 1
1  DRITTER  | 1 A . SCHIENE 1  1 811 1 1 331 1
j 62 STEUERN U ND  ABGABEN  | 67 | 45 B . STRASSE 1 523 1 487 |
1  1 1 C. MIT ANDEREN VERKEHRSMITTELN I  - 1 1
1  63 ABSCHREIBUNGEN  | 465 1 470 1 1
1  1 i 1.GUETERVERKEHR 1 2044 |
1  64 ZUWEISUNGEN AN RUECKSTELLUNGEN  | j - A . SCHIENE 1  2 044 1
1  1 1 I .  IN  ZUEGEN U ND WAGENLADUNGEN 1 914 | 1
i 65 FINANZLASTEN  i 358 1 241 - INLANDSVERFEHR 1  835 1 1 1 083 |
1  1 1 -  INTERNATIONALER VERKEHR 1  1 079 1 1 776 !
1  1 1 I I .  STUECKGUT 130 1 1
1  1 1 -  INLANDSVERKEHR 1  114 1 1 95 1
1  1 - INTERNATIONALES VERKEHR 1  16 1 1 16 1
1 B . STRASSE 1 I
1  1 C . MIT ANDEREN VERKEHRSMITTELN 1  - 1
Ii !  
1  11
1 2.POSTVERKEHR i124 \ 20 |
1
1 TEILSUMME 1 4402 I 3 808 1
I  1  
1  I1
1 71FIMNZERTRAEGE I 140 !  
J177 i
1  1 1 72SONSTIGE ERTRAEGE 1I394 | 
1268 |
1  1 1 73GEGENWERT DER ANDEREN KONTEN WEITER- 1 423 1 255 j
1 BELASTETEN AUFWENDUNGEN 1 1
1 74AUSGLEICHSZAHLUNGEN U ND BEIHILFEN 1 1
1 GBUESS I 1
1  1 1 0.VERORDNUNG (.EW G) NR  1191/69 1 282 ! 235 !
1  1 1 1.VERORDNUNG (EWG) NR  1192/69 j 1  1 459 1 1 140 i
1  1 1 2.VERORDNUNG (EWG) NR  1107/70 1 1 470 |
1  1 1 3.ANDERE AUSGLEICHSZAHLUNGEN U N D 1 1 i
1  1 BEIHILFEN 1 —------ j-------------  ]
1 TEILSUMME 1 1741 1 1 845 !
| BETRIEB SAUFWEWUNGEN INSGESAMT \ 10 197 1 8 206 BETRIEBSERTRAEGE INSGESAMT 1 7100 1 6 353 1
| 9 1 .0  BETRIEBSGEWIES DES  | 91.1BETRIEBSERTRAEGE INSGESAMT 1 3097 | 1 853 !
j g esc h aeftsjah p .e s 1 1 1 1 1
I I .  ZUSAMMENFASSUNG VON "GEWINN U ND  VERLUST"
| 9 1 .1  BETRIEBSERTRAEGE INSGESAMT  | 
1  1  
| 9 1 .3  AUSSERORDENTLICHE VERLUSTE \3 097 | 
1
127 |1 853 1  9 1 .0  BETRIEBSGEWINN DES  !  
| GESCHAEFTSJ AHRES \ 
1  9 1 .2  AUSSERORDENTLICHE GEWINNE \1
1
1|i
j
| 9 1 .4  KOERFERSCHAFTSSTEUERN \
1  I  I  i1
1
1I  I  
| B l. 5 ZUSCHUSS ZU M  HAUSHALTSAUSGLEICH  I  
| -  VERORDNUNG (EWG) NR  1107/70 ART.4 | 
| - ANDERE  11  3 2243 224 | 
1  
11 853
| 9 1 .6  GEWINN DES GESCHAEFTSJAHRES  1  
1  1 11  9 1 .7  BETRIEBSERTRAEGE INSGESAMT  1  
1  11
1 1

- 9 2  -
O S E  - F IN A N C IA L  Y E A R  1 9 8 1
Explanatory Notes
Figures are given in millions drachmas.
I. B A L A N C E  S H E E T
T he depreciation on the initial assets is calculated on the basis of the 
replacement cost. For assets bought since 1 9 7 1  the depreciation is calculated o n  
the basis of the aquisition value or construction value.
Account 10 - 1 2  - Fixed Assets
Account 10. 11_ 12 1 3IZ T O T A L
Value first of year 22 387 4  693 489 324 909 29 3 0 2
+  purchases and additions 168 592 5 5 639 1 0 4 1  5 5 8
- disposals 1 5 - - - 1 5
- depreciation 2 0 5 1 8 1 5 3- 2 6 4 6 5
Value end of year 2 2  835 5  104 4 9 1 963 9 8 7 3 0  380
II. P R O F IT  A N D  L O S S  A C C O U N T
Account 60 - Staff expenditures
Remuneration 5  875.2 
Social charges pensioners 514.9 
Other social charges 600.9
6 991.0 '
Staff and staff expenditures Expenses N u m b e r of staff
General administration 376 750
/
Operation and traffic 1  9 2 2 3  2 4 8
,/ Rolling stock and machine pow er 1 8 6 1 3  6 1 1
f W a y s and works 1  786 3  5 7 1  
2  0511 ) Others 1  046
l / , 6 9 9 1 1 3  2312 >
1
2Social service 215, education 156, road services 580 and investments and 
w orks under construction 1  100
Regular staff :  10 658 and axiliary staff 2  573

- 93 -
Account 74 - Compensation and aid
T he payments of compensations and aids are based upon decree 1300/72 
which correspond to the E E C  regulations as follows :
74.1 Regulation (E E C ) N o. 1192/69
Operation and maintenance of crossings ^82
74.2 Regulation (E E C ) N o. 1107/70
Infrastructures charges ^  ^59
74.3 Other compensations and aids 
Depreciation charges
Account 91.5 - Balancing subsidy
These payments are based upon decree's 674/7 and 1300/72 and correspond 
to the regulation (E E C ) N o. 1107/70, art. 4.
Balancing subsidy 3  224

- 9 4  -
S O U R C E  A N D  A P P L IC A T IO N  O F  F U N D S  
(O S E  - 1981)
S O U R C E  O F  F U N D S
Increase in equity of shareholders 
Contribution to investment cost 
Provisions
Long-term financial debts
- State loans
- Others
Internally generated 
Sales of scrap assets 
Profits / (Loss)
Adjustments for items not involving the m ovem ent of funds 
Depreciation and amortisation
A P P L IC A T IO N  O F  F U N D S
Decrease in equity of shareholders 
Repaym ent of long-term financial debts 
Purchase of assets
- fi xed assets
- shareholdings in other undertakings 
W orking capital
Stocks in store 
Debitors
B ank balance and cash 
CreditorsM io  D R A
1 041.1 
1.9
1  864.7 
15.7
464.5 
3  387.9
728.8
1  558.2 
(0.4)
343.5 
(251.2) 
(4.6) 
1  013.6
3  387.9

ZUSAMMENFASSUNG DER UMGESCHRIEBENEN BILANZEN  (1981)
(IN  MIO LANDESWAEHRUNG )
jBRB CFL I  
1CIE DB !
1DSB | FS(t>  1
1NIRCty
1NS |  
1OSE |  
1SNOB/  !  
W4BS  1SNCF  1  
!
- - - - - - - - - - |
|  AK
TIVAI11■  1  11
|1
I1
11\\!
1
1  ANLAGEVERMOEGEN 1  391,6 31
656|I125,5 5 41
764|
|7  066| 8 397| 
|2 6  7 9 5 1  
15  423| 
|3 0  3 8 4 1  
1109 5 7 5 1  
17 5  199|1i
|  - SACHANLAGEN 1  030,8 31
5 9 9 1 125,5 5 19 7 0 1|7  056| 7  950|I2 6  7 9 5 1  |4  151| 
|2 9  3 9 3 1  
|9 7  37S!  
|7 0  025! 
1
1
|  - FINANZANLAGEN 360,81
571|0 21
794|
I10 ii
447|
1o l
|1  2 7 2 1  
|9 9 1 1
!1 2  197| 
15  174! 
1
1  UMLAUFVEEMOEGEN 3 7 4 ·, 811
5 6 6 1i70,9 47 4 8 1
I1  1 2 4 1 5 1 2 8 1  
!2 1181 
16 3 8 1
|1 1  325| 
13 4  2 9 7 1  
115 9231 
11
j  - MATERIALVGRRAETE 181,51
5 5 8 1I34,6 1069|
|6661 1  2 3 3 1  
1457|
|253|
|2  6 1 5 1  
I1 0  5 7 2 1  
13  1 8 7 1  
!
1
|  - REALISIERBARES UMLAUFVEEMOEGEN 168,31
996||34,7 23 9 3 1
|404| 1 801| 
|1  459| 
|350|
|7  993! 
12 2  884| 
!12 0861 
\
|  - VERFUEGBARES UMLAUFVEEMOEGEN 2 5 121  11,6 12861
!541 2  094| 
12021
|35|
|7 1 7 1
1841|
16501
11
|  KUMULIERTE ERGEBNISSE 72,11
1 1 9 1 22,2 7649| O l1 1  5 1 8 1 221 30| ol 10 2 9 1 1 7  416|
|  ( VERLUSTE )
|  INSGESAMT 1  838,5 53 4 1 1 218,6 6 7161| 8 1 9 0 1 2 5  0 4 3 1 2 8  9 3 5 1 6 0 9 1 1 4 1  709| 154 163| 9 8  5 3 8 1
|  PASSIVA 1I1
|1
|1
11
11
|-----------
1  G
RUNDKAPITAL UND  RUECKLAGEN 685,9 21
6 8 3 1 55,1 2 91001 7  4 5 9 1 6 296| 
|2 6  5 5 8 1  
13  3 3 2 1  
|3 5  0 8 3 1  
|68 088! 44 1 4 3
1
|  LANGFRISTIGE VERBINDLICHKEITEN 641,5 11
383| 85,4 3 4444! 0|
11 4  0 6 9 1 iooi
12  203| 4 7 3 1 1  
|49 8 6 1 ! 3 2  275
1
|  KURZFRISTIGE  
|  VERBINDLICHKEITEN  
|  KUMULIERTE ERGEBNISSE511,1
011
2 7 5 1
1
0|78,1
03617
07 3 1 1
1
O l4  678| 
O l2 268| 
1
9 15 5 6 1
ol1  8 9 5 1  
1
o l3 6  214 
022 120 
0
|  ( GEWINNE)
■ 1 INSGESAMT 1 838,5 5341| 218,6 6 7161 8 190| 2 5  0 4 3 1 2 8  9 3 5 1 6 0 9 1 1 4 1  7 0 9 1 154 1 6 3 9 8  538
(1) M RD LIT
(2) 000 UKL

ZUSSAMMENFASSUNG DER UNGESCHRIEBENEN GEWINN- UND VERLUSTRECHNUNGEN  (1 9 8 1 )
( IN  MIO LANDESWAEHRVNG)
BRB 1 CFL | 
1CIE | DB DSB FS(*>! NIRQÌ}  
1  1NS OSE SNOB/
NMBSSNCF  | 
1
ERTRAEGE 1 1 1
VERKEHRSERTRAEGE  11 757,31 11
6561 1 3 3 ,9 | 15952 2873 1571 91
7641 1313 9902 23973 28 456 j
I
-  PERSONENVERKEHR \1 091,91 260| 98,11 5298 1856 977 36671 963 2339 9299 12 0921 
|
-  GUETERVERKEHR  | 613.71 13961 3 3 ,9 | 9729 927 591 1074| 326 2099 19210 15 8981
I
-  POSTVERKEHR  | 51,711
oi 2 ,9 | 930 90 3I
23! 29 29 464 4661
1
FINANZERTRAEGE  | 1 ,7 | 66[ 0 1 267 11 28 5 9 1 107 190 360 364!
SONSTIGE ERTRAEGE \ 102,311
66| 1 2 ,6 | 1801 957 190 539J 76 394 19768 2 6491
t
GEGENWERT DER ANDEREN KONTEN  | 255,91 ol 9 0 ,9i 4566 0 835 01
j271 923 19950 2 300} 
j
AUSLEICHSZARLUNGEN U N D  BEIHILFEN  | 831,11 47221 85 1 9062 9200 3573 91551 1039 9965 98302 15 4081 
1
-  VERORDNUNG (EWG)  1191/69 | 810,21 11
646| 26,51 3978 1910 2219 36101 817 282 22591 4 9611 
|
-  VERORDNUNG (EWG)  1192/69 | 17.41 17441 9 .5 | 4519 19 919 891
I97 1959 15246 50111
-  VERORDNUNG (EWG)  1107/70 ART.  3 1 3 ,5 | 13321 39,81 99 291 222 O i 0 0 10515 5 010! 
{
-  ANDERE  1 0 1I
ol .21 976 2535 0 4561 0 0 0 1 873 j  
j
-  VERORDNUNG (EWG)  1107/70 A R T . 4 · | 0 1 ol 19 1 0 0 723 ol|170 32 2 9 0 3 0631 
1
AUSSERORDENLICHE POSTEN  | 0 1 o! o 1 53 0 60 c | 0 0 599 1 879] 
|
BETRIEBSVERLUST DES JAHRES  | 37,21I
ffOll 10 1 4044 01697 2 2 1 30 0 5271 2 C201
INSGESAMT  | 2 985,51 6531 i 281,9] 35295 7591 7909 9534| 2831 10324 108 223 53 5761
AUFWENDUNGEN  | 1 1 i
j
PERSONALAUFWENDUNGEN  !1 663,21 51
4271 199,81 20605 2798 9181 54461 1535 6991 61993 29 873! 
!
MATERIAL U ND  LEISTUNGEN  | 
DRITTER
STEUERN U ND  ABGABEN  |1 i m , 7 | 
.111
6131
!
92196,51 
1 1 ,1|9646
1221570
02171
1273901|
1o i701
52316
6731982
814 206! 
!
9301
|
ABSCHREIBUNGEN U ND  
RUECKSTELLUNGNE  | 
FINANZLASTEN  |138,51 
69 11
6961
1
203!15,21 
8 , 4[1
2892
7132770
4037 7 4
6496591
1
61908
182965
3589
5553
7373 9651 
I
9 060] 
|
AUSSERORDENLICHE POSTEN  | o 11o i .91 267 0 2 221 0 127 0 1 0361
I
BETRIEBSGEWINN DES JAHRES  | o 11
oi o  i 0 0 01o i 0 0 0 ol
INSGESAMT  |2 985,51 69311 2 8 1 ,9 | 35295 7591 7909 95341 2831 10329 108 223 53 5761
(1)  MED LIT
(2 ) 000 UKL