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COM (83) 244 
 
 
 
Vol. 1983/0 102 
  
 
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 openi ng to the public of the historical archives of the European Econom ic 
Community and the European Atomic 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 f ile 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 198 3 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 243 vom 27 .9.2003, S. 1), ist diese Datei der Öffentlichkeit zugänglich. Soweit  
erforderlich, wurden die Verschlusssachen in dieser Datei in Übereinstimmung mit Artikel 5  
der genannten Verordnung freigegeben.  
COMMISSION O F THE EUROPEAN COMMUNITIES
CO 4(83) 2kk final. 
Brussels» 10 May 1983·
■  ,',X f .
FOURTH-COMMISSION REPORT TO THE COUNCIL
ON THE TRANSPOSED ANNUAL ACCONTS 
OF RAILWAY UNDERTAKINGS 
I98O
C0M(83) 2H  final.

SYNOPTIC REPORT ON ACCOUNTS
INTRODUCTION
1. Article 5 of Regulation (EEC). No 2830/77 provides that Railway undertakings  
shall within 12 months ot the end of the accounting year in question trans­
mit to the Commission iheir transposed annual accounts. Six months after  
their receipt "the Commission shall submit a synopsis of / the transposed  
accounts^/ 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 pro­
gress towards greater harmonization of their accounting systems.
A meeting was held on July 6, 1982.
The synoptic report on the 1980 Transposed Accounts takes account of  
the Committee's opinions.

COMMENTARY ON ACCOUNTS AND DEVELOPMENTS
1. Transposed accounts and explanatory notes submitted by the railway  
undertakings are reproduced in full in Annexe I to the report.
Railway undertakings have, in general, responded favourably to the  
C -ri’mi ttee'  s short term objectives of improving the quality and quantity  
of information provided in the explanatory notes. The Commission is  
most appreciative of their efforts, particularly in view of the short  
time lag between the 1979 and 1980 Reports on Transposed Accounts.
3. As a consequence of the Advisory Committee's meeting of 6 July 1982  
certain very important achievements can be recorded. From 1981 onwards
raiIway undertakings shall include in their communication of the Transposed  
Accounts to the Commission :
(a) a statement on sources and application of funds
(b) a statement on movement of fixed assets
(c) a more detailed breakdown of personnel numbers and expenditure. ·
Examples of the agreed schemas for presentation are given in Annexes III,  
IV, V of this report.
4. These developments will undoubtedly contribute to the Commission's and  
the Member States' ability to evaluate the financial situation and cr.anges  
therein of the railway undertakings - the raison d'etre of the Biennia  
Report on the economic and financial situation of railways which the  
Commission is charged to present under Art. 14 of Decision 75/327/EEC (1).
5. The Committee's opinion was also sought on the possibility and desirabii,  
of an accounting separation of infrastructure and operations in the Trans­
posed Accounts. Studies, underway in serveral Member States, have to date  
yielded no definitive conclusions as to this possibility. There appears  
little chance of immediate development in this area. However figures for  
infrastructure expenditure (investment * ■  operational) tie supp" i  e . ·  unu.-.· 
Regulation (EEC) 1108/70 (2)
(1) 0J No. L 152/3 of 12.6..975
(2) 0J No. L 130 of 15.6.1970

- 3 -
6.  The figures and information provided in this report will be used for the  
establishment of comparative indicators in the 1983 Biennial Report.
7. Article 7 of Regulation (EEC) No 2830/77 (1) provides that 'before
1  January 1983 the Commission shall, in the light of experience gained and  
of accounting developments in general and takinj into account the opinion  
or the Committee, submit, where appropriate, proposals for amending this  
regulation and the annexes thereto with a view to improving the comparability  
of transposed annual accounts'.
The Committee was consulted on July 6, 1980 on the necessity to amend the  
regulation. There was unanimous agreement that no amendment is necessary.  
Additional information is and will continue to be supplied under Art. 4 § 3.
8.  The Commission will therefore address a separate communication to this  
effect, towards the end of 1982, to the Council.
(1) 0J Vol. 20 No. L 334 of 24.12.1977

ANNEXF I
TRANSPOSED ACCOUNTS
(1980)
This annex contains the accounts and Explanatory notes for all railways  
except the Republic of Ireland as C.I.E. have not yet published their  
report and accounts for 1980 due to certain technical difficulties.

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

rertakinc. 5 N C B /N M B Sat 31."2.1980 M io B F R
1 9 8 0 1979 LIABILITIES1 9 8 0 1979
L O N G -T E R M  A S S E T S  
Fixeo Assets (Net)
10 Land and fixed ’nstaltation-
1 1  Tra^port stock and equipsrer.- 
‘ ■ 2 Othe* stock and equioment
13 Fixed assets under construction
Other * ; a s s e t s
14 Shareholdings in othFr ■■ ".tertakings
15 Loi.g-term loans
16 Cost of floating loans ana -oar. redemption 
premiums
17 Miscellaneous fixed assets
Sufc-totai
Stocks
20 -  21CURRENT
(In store or beinu manufactured)
Rea d i e  assets
30 Oevrcrs
41 Leans repayable within 
one year
42 8 i*  Is receivable 
45 Securities
Sank » « « ? ‘ .ances and cash
43*46-47-48 Cheques in hand,, postal cheque accounts, 
bank accounts, cash ir. hand
Sub-total
4»*sot t s
06.1 «.osies for previous finanei*. years
07.1 Less for the financial y*ar
/if.sets :  Tciai45 728 
17 768 
2 955 
15 0 6 2
325
84
308 
13 425
16 403
865
4 536
•18481 513
14 14239 565
15 507 
7 299
12 369
323
80
371
13 425
95 655 83 439
!ii
S  845 i  7  695 
17 268i
1 1 467
790
616 1  409
26 729 21 361
»sss:se::^:ssscsss:ss:s
5 020I
4 815
404 ·  109 615Capital and reserves
00 Capital
0 1 Reserves
02 Contribution to investment costs
03 Provisions
0 4 Funds for staff
0 5 Long-term financial debts
- debentures
- State loans
- other financial debts
Sub-total
Current lia b ilitie s  
31 Creditors
40 Financial debts cf less than one-year 
te r ·
44 B ills payabte
Sub-total
06.0 Profits for previous financial years
07.0 Profit for the financial year11 000
2 037
36 886
>  537 
6 48513 037 
41 185 
1  040 
943 
46 95811 000 
1  910 
33 757 
1  175 
855
33 892
3 595
4 513
103 163
20 068
2 027 
2 14690 697
16 706
1  489 
444
24 241 18 639
279
127 4 04 j  109 615

-  3 -
PROFIT A N D  LO SS A C C O U N T T  A B E L  1 b
I. GENERAL OPERATION
Undertaking :  SNCB/NMBS
EXPENSES
60. Staff costs.
61. Material supplied and services performed 
by third parties
62. Taxes and 3 L > e s
63. Allocations for depreciation
64. Allocations to provision accounts
65. Financial charges
Total expenses
91.0 Operating p rofit for the financial year1980
56 222 
25 458
24
8 190 
4 283M io B F R Year : 1980
94 1771979
51 651 
19 567 
5 1
8 609 
4  071
83 949R E V E N U E
70. Traffic revenue
0. Passenger and luggage tra ffic
a) by rail
b) by road
c) by other means of transport
1. Goods tra ffic
a) by rail
i) fu ll trains and wagon loads
- national tra ffic
- international tra ffic  
ii) part loads and parcels
- national tra ffic
- international traffic
b) by road
c) other means of transport
Sub-total2. Postal tra ffic
71. Financial revenue
72. Other revenue
73. Contra of costs booked to other 
accounts
74. Compensations and aids received under
0. Regulation (EEC) N ° 1191/69
1. Regulation (EEC) N° 1192/69
2. Regulation (EEC) N ° 1107/70, ArticLe 3
3. Other compensations and aids
Sub-total
Total revenue1 9 8 0
3 621 
8 333
2 420 
4801 1  954
2 9008 877 
2
14 854
20 573 
14 412 
9 7748 878
14 854
476
24 205 
337 
10 786
13 223
4ÎT59
93 3131979
7 988 
1
3 382 
7  975
2 285 
453
460 
22 494 
349 
7  9*0
10 128
19 352 
13 493 
10 114
83 870
>91.1 Operating loss for the financial year864 79
I I . PROFIT A N D  L O S S  S U M M A R Y
91.1 Operating loss for the financial year 
91.3.Exceptional losses 
91.4 Corporation tax864
837991.0 Operating profit for the financial year 
91.2 Exceptional profits
91.5 Balancing subsidy
- Regulation (EE C ) N ° 1107/70, ArticLe 4
-  Other463 358
91.6 Profit for the financial year279 91.7 Loss for the financial year484
J

- 4 -
SNCB/NMBS:  FINANCIAL YEAR 1980 
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 .he 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 depreciatior.  
Vi 1982.A C C O U N T
101112 1 31 4 .
Primo value 39 403 14 462 2 506 12869323
* ·  investments 6 4084 367 488 2193?
- sales 12639
- depreciation 821 03‘-- -
Ultimo value 45 728 17 768 2 95515062325
Account 14 - Shareholdings in Other ' Companies
Shareholdings in affiliated companies 55
Shareholdings in other companies 258
Other stocks and shares 2
325

- 5 -
Account 15 - Long-Term Loans
These are alt claims vis-à-vis companies in which SNCB has a share­
holding.
Account 17 - Miscellaneous Fixed Assets
(a) Railway operating concession 11 000
(b) War damage 2 410
(c) Loan to Fonds des Oeuvres Sociales 15
13 425
Accounts 20 and 21 - Stocks
Raw materials, consumables, supplies 8 067
Work in progress 739
Goods 39
8 845
The valuations rules are :
- Raw materials, consumables, supplies are valued at their weighted  
average price
- Works in progress are valued at their costs and
- Gooc5 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 32
Claims whose term is no more than one year
(a) Arising from goods delivered or services
rendered 1q 579
(b) Other claims - j  99^
Adjustments 2 796
16 403
Included is 341 mio deficit - and 222 mio debitors of the FOS.

-  6 -
\  ·,
Account 45 - Securi ties
This account also includes FB 175 mio which is an investment in  
the FOS.
Account 43 - 46 - 47 - 48 - Bank Balance and Cash
Belonging to the FOS :  FB 80 mio. ,
vLjab ili t i  es
Account 01 - Reserves
This is the amount credited to the Loan Redemption Fund as at  
31st December 1980. A sum is entered in the accounts each year to replenish  
this Fund.
Account 03 - Provisions
(a) Fixed Assets Replacement Fund 319
(b) Provision for exchange losses relating to
foreign currency loans (Eurofima) 414
(c) Other provisions 317
1 040
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) Non-convertible subsidiary loans 358
(b) Non-convertible debenture loans i8
(c) Credit establishments 6 102
(d) Payment in advance 2
(e) Guarantees to connected firms 5
6 485
The debts vis-à-vis companies in which the SNCB has a shar^holdi  
(Eurofima) amount to 8FR 5 674 mio.

Account 31 - Creditors /
Debts whose term is more than one year 1
arising from the purchase of goods and
services
Debts whose term is no more than one year
(a) Credit establishment s 586
(b) Various debts arising from the purchase 2 744
of goods and services
(c) Debts and provisions for tax, social 4 598
charges and wage payments
(d) Advances received 1 588
(e) Other loans and deposits received 38
(t) Other debts 26
Adjustments 5 487
20 068
Included for the FOS :  96 mio as debt and 848 mio for ictions of which prices  
are not fixed.
Profit and Loss Account  
EXPENSES
Account 60 - Staff Costs
Renumerations 34 633
Pensions 15 897
Social Assurance 5 202
Other Social Charges 490
56 222
After deduction of the state compensation for pensions under reg. 1192/69  
- FB 13 468 mio - the net pension charges are FB 2 429 mio, whereas the staff  
cost net amount to FB 42 754 mio instead of FB 56 222 mio.

-  8 -
The renumeration can be divided into :
Statutory staff - employees
- workers
Temporary staff - employees
- workers
Trainees - employees
- workers
Board of directors and auditors
The social charges can be divided into
Family allowance  
Contribution to FOS  
Contribution to ONSS (*)
Holiday provisions  
Trade union fund  
Industrial accident fund
Account 61 - Material Supplied and Services Performed by Third Parties
Works of third parties 7289
Materials and other supplies 6456
Transport materials 4679
Energy consumption 3787
Hire 1193
Road transport 857
Rent and letting charges 101
Mi scellaneous 1096
2545811 900 
20 802 
331 
1 281 
211 
103 
5
34 633
2 146 
1 295 
514 
1 517 
101 
119
5 692
(*) Office National de Sécurité Sociale

- 9 -
Account 62 - Taxes and Dues
The total on this account is the sum of :
- VAT on investment goods
- 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 16 % on goods transport.
Account 64 - Allocations to Provision Accounts
Replacement allocation 7 860
Insurance Fund allocation 290
Provision for exchange losses on long-term - 40
debts ----
8 190
A
ccount 65 - Financial Charges
Charges on debts whose term is more than one year 3 612  
Charges on debts whose term is no more than one year 301  
Miscellaneous financial charges 370
Reductions of creances ____
4 
283
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 97
Revenue from other claims and bank balances and cash 27  
Miscellaneous 213
337

-  10  -
Account 72 - Other Revenue
Services and supplies 8 800
Miscellaneous revenue 1 609
Revenue relating to staff 377
10 786
Account 73 - Contra of Costs Booked to Other Accounts
Internal work relating to the improvement of fixed assets
(a) New fixed assets 1 380
(b) Renewals of fixed assets 11 558
Net amount charged to the Insurance Fund 285
13 223
Account 74 - Compensation and Aid Received
74.0. Regulation (EEC) N° 1191/69
Obligation to operate 2 241
Tariff obligation - passengers 19 166
- goods 31
19 197
21 438
74.1. Regulation (EEC) N° 1192/69
Retirement payments and pensions 13 468
Social charges, whereof :
(a) Accidents at work 92
(b) Family allowances 25
Measures benefiting staff in recognition of
services rendered to their country 35
Crossing facilities 359
Compensation for financial charges 433
14 412

11  -
.................... ...v a à s r-^ M k  -■-•»liijfc— H i H ^ v -. * % ■■ ,n n - w j i r ·11 n rr-  *t
74,2. R
egulation (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 I 
overdue renewals
Tax from which the company is exempted
to be deducted ~ 19
9 i f d  '
The sum of BFR 2 045 mio th the Health Insurance Office (FOS) is optional  
compensation nots  included in the accoup^,,^, .
Ac
count 91-2 - Exceptional Profits
The exceptional profits include :
- a credit relating to 1978 of BFR 83 mio given by the State
- BFR 446 mio repaid VAT on investments for creation of employment.
- BFR 16 mio represent amount withhold in 1978 on account 15.5 351
4 442
Note about the Health Insurance office
In favour of the personnel the SNCB has created a Health Insurance  
Office (Fonds des Oeuvres Sociales) - FOS - consisting of :
- la Caisse de Soins de Santé
- la Caisse des Indemnités
- U Caisse de la Solidarité Sociale.
From 1979 on the accounts of this Fund are incorporated in the accounts of  
the SNCB. Whereas the income and expenditures of the FOS are not recluded  
in the profit and loss account of the Company.
The results of the FOS are integrated as follows :
- Caisse de Soins de Santé :  this fund represent a normal debt which the
State meets every year, its deficit is brought into account 30,
- Caisse des Indemnités :  is always in balance, the income correspond to  
the expenditures.
- Caisse de la Solidarité Sociale :  disposes of a credit, which is considered
as a debt to the personnel and which is shown in account 31.

-  12  -
SOURCES AND APPLICATION OF FUNDS STATEMENT
YEAR 1980
ASSETS (mio BFR)
I Tangible fixed assets  
(accounts 10, 11, 12, 13)
II Other fixed assets  
(accounts 14, 15, 16, 17)
III Stocks  
(accounts 20, 21)
IV Realizable assets  
(accounts 30, 41, 42, 45)
V Bank balance and cash  
(accounts 43, 46, 47, 48)Table on the changes of the values
31.12.1979 31.12.1980 Sources _"se_
■ i d 273 69 240
14 199
7 695
12 257
1 40981 513
14 142
8 845
17 268
61657
7931 150
,11
LIABILITIES (mio BFR)
I Capital
(accounts 00, 01, 03, 04)
II State contribution  
(account 02)
III Long-term debts  
(account 05)
IV Short-term debts  
(account 31, 40, 44)
V Accumulated results14 940 
33 757 
42 000 
18 639 
- 4 53615 019 
41 186 
46 958 
24 241 
- 5 02079 
7 429
4 958
5 602
484
18 918 718
Care should be taken in interpreting the statement because of the nature of the  
undertaking and the evaluation rules used in drawing up the annual accounts.
The fixed assets of the SNCB would appear to have increased by some 12 milliards  
in 1980 over 1979. These investments being financed 60 % by the State. The real  
investment for 1980 is some 21 milliards, from which the State's share is sub-  
stracted.
From 1983 on it will be possible, with the change over to classical methods  
of depreciation, to prepa e a more meaningful sources and application statement

'3  -
DANSKE STATSBANER (DSB)

- :a -
BALANCE SHEETTA8EL 2 a
Nio D K R
undertaking :  ^ B  at 31.12.1980
ASSETS 1 9  8  0 1979 LIABILITIES1---------------------------- T9  
8  0 1979
‘ LONG-TERM ASSETSj1
Fixed Assets (Net) 8 592 Capital and reserves
10 Land and fixed installations4 589 4 248 00 Capital 8 925 8 039
11 Transport stock and equipment 3 697 3 266 01 Reserves - 8 925
12 Other stock and equipment 306 271 02 Contribution to investment costs - -
13 Fixed assets under construction - 0 03 Provisions
04 Funds for staff
05 Long-term financial debts
- debentures
- State loans
- other financial debts- -
Other fixed assets
14 Shareholdings in oth· r undertakings
15 Long-term loans
16 Cost of floating loans and loan redemption 
premiums1010
10
-
17 Miscellaneous fixed assets - ~
Sub-total 8 602 7 795 Sub-total 8 925 8 039
CURRENT ASSETS
Stocks
20 -  21 (In store or being manufactured) 526 415
Realizable assets 482
30 Debtors 482 314
41 Loans repayable within
one year -
42 Bills receivable 0 0 Current liabilitres
45 Securities31 Creditors 528 491
Bank balances and cash
43-46-47-48 Cheques in hand, postal cheque accounts, 
bank accounts, cash in hand 37 3540 Financial debts of less than one-year 
ter·
44 Bills payable’94 29
Sub-total
Result?1 045
9MSX«SSU*1 X764Sub-total
Results722
SH SSSSSStSSt520.
06-1 Losses for previous financial yearsI• 06.0 Profits for previous financial years -
07.1 Loss for the financial year I
I-07.0 Profit for the financial year----------- i_
Assets :  Total |
ii
I9 647 8 55»Liabilit'e« :  Total
i9 647
: s : s i 3 3 » » s8 55»

PROFIT AND LOSS ACCOUNTT ABEL 2 b
Undertaking :  dsbI. GENERAL OPERATION
E X P E N S 1980 1979 REVENUE 1 } 3 ( ITear :  1980
1979
60. Staff costs
61. Material supplied and services perforated 
by third parties
6?.. Taxes and dues 
63. Allocations for depreciation 
66. Allocations to provision accounts 
65. Financial charges
Total expenses
91.0 Operating profit for the financial year2 456
1 281
207
567
4 3112 223 
993
187
33570. Traffic revenue
0. Passenger and luggage traffic
a) by rail
b) by road
c) by other means of transport
1. Goods traffic
a) by rail
i) full trains and wagon loads
- national traffic
- international traffic 
ii) part loads and parcels
- national traffic
- international traffic
b) by road
c) other Beans of transport
2. Postal traffic
71. Financial revenue
72. Other revenueSub-total
73.
74.
3 743Contra of costs booked to other 
accounts
Compensations and aids received under
0. Regulation (EEC) N° 1191/69
1. Regulation (EEC) H ° 1192/69
2. Regulation (EEC) N° 1107/70, Article 3
3. Other compensations and aids
Sub-total
Total revenue
91.1 Operating loss for the financial year187
231
212
28418
2401 159 
193 
232
658
4
232
1 123 
13 
2281 534
894
79
2 557 
6 
384
1 364
4 311984
153
236
199
223
215
27
5
235
65
2 342 
6
386
782
1 2
215
1 009
3 743
II. PROFIT AND LOSS SUBHARY
V1«1 i'pur.Kloss for tria financial /s?ar91„0 Operating profit for the financial year
W^«exceptional loss’s91.2 Exceptional profits
91.-4 Corporation tax91.5 Balancing subsidy
de U■— - Regulation (EcC) N° 11C7/7Q, i \ rt
■ - Other
- -
vi.fi ?rofît for vite financial year'7
---a —91.7 Loss for the financial .»csr j• -

-  1 6  -
DSB - Financial year 1980  
Explanatory Notes
Figures are given in millions of DKR.
Balance Sheet
Accounts 10 - 13 - 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 Total
Primo value 4 248 3 266 271 7 785
+ Investments 534 570 63 1 167
- Sales 132 3 18 153
- Depreciation 61 136 10 20?
Ultimo value 4 589 3 697 306 8 592
Accounts 20 and 21 - Stocks
Stock valuation is based on current prices.
Liabilities
The capital is built up through annual state contributions to  
investments.
Profit and Loss Account  
Account 60 - Staff Costs
This account includes DSB'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 ilhâër thè hëlë-  
vant assets accounts.

17 -
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 collecte- 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
Depreciation is on a straight-line basis, with various rates of  
depreciation (see account 1.0 - 13).
Account 65 - Financial Charges
Tangible assets, which are part of the capital ir.yested in DSB by the  
State, bear interest at 4.5 %.
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  
servi ces.
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

- 18 -
Account 74 - Compensation and Aid  
Regulation (EEC) N° 1191/69
- passenger transport ^10
- freight and mail 313
Regulation (EEC) N° 1192/69 - Class XI - 13
Allowances to staff
Regulation (EEC) N° 1107/70 - Infrastructure Cost 228
This amount is compensation for interest charges and amortization on loans
of fixed installations which the other modes do not bear.

- 19 -
DEUTSCHE BUNDESBAHN (DB)

-  20 -
B A L A N C E  S H E E T
Undertaking t D B  at 31.12.1980
ASSETS1 s8  0 1979LIABILITIES1  98  0 1979
LONG-TERM ASSETS
Fixed Assets (Net) 50 473 Capital and reserves
10 Land and fixed installations 31 700 29 964 00 Capital 18 852 19 413
11 Transport stock and equipment 13 615 13 588 01 Reserves 3 767 22 619 4 402
12 Other stock and equipment 2 107 2 007 02 Contribution to investment costs I 6 130 5 546
13 Fixed assets under construction 3 051 3 292 03 Provisions ■ 257 255
Other fixed assets
14 Shareholdings in othe·- undertakings
15 Long-ter· loans
16 Cost of floating loans and loan redemption 
premiums462 
2 254
1292 845
462 
2 008
12304 Funds for staff
05 Long-term financial debts
- debentures
- State loans
- other financial debts14 202 
18 41432 616
13 828 
17 203
17 Miscellaneous fixed assets
Sub-total 53 318 51 444 Sub-total 61 622 60 647
CURRENT ASSETS
Stocks
20 - 21 (In store or being manufactured) 1 078 1 038
Realizable assets 2 256
30 Debtors 2 104 2 286
41 Loans repayable within 
one year 152 91
42 Bills receivable 
45 Securities 0 0Current li abilit ies 
31 Creditors 3 060 3 181
Bank balances and cash
43-46-47-48 Cheques in hand, postal cheque accounts, 
bank accounts, cash in hand 1 130 1 03040 Financial debts of less than one-year 
term
44 Bills payable281 248
Sub-total
Results4 464uiiszctain
7 1814 445>«u*nxixmSub-total
Results3 341 3 429
Scaasasaaasaas
06.1 Losses for previous financial years
07.1 Loss for the financial year3 576
3 6054 611 
3 57606.0 Profits for previous financial years
07.0 Profit for the financial year“
Assets :  Total
if - 963 64 076 Liabilities :  TotaL 64 963
sevassanxs·64 076

-  21 -
PROFIT AND LOSS ACCOUNT TABEL 3 b
I. 6ENERAL OPERATION
Undertaking :  08 Hio OH Year : 1980
EXPENSES 1980 1979 REVENUE 1 9  8  0 1979
60- Staff costs
61. Material supplied and services performed 
by third parties
62. Taxes and dues
63. Allocations for depreciation
64. Allocations to provision accounts
65. Financial charges19 841 
9 754 
92
1 833
2 39418 770 
8 954 
92
1 820 
2 39470. Traffic revenue
0. Passenger and luggage traffic
a) by rail
b) by road
c) by other aeans of transport
1. Goods traffic
a) by rail
i) full trains and wagon loads
- national traffic
- international traffic 
ii) part loads and parcels
- national traffic
- international traffic
b) by road
c) other aeans of transport
2. Postal traffic
Sub-total
71. Financial revenue
72. Other revenue
73. Contra of costs booked to other 
accounts
74. Coapensations and aids received under
0. Regulation (EEC) N° 1191/69
1. Regulation (EEC) N° 1192/69
2. Regulation (EEC) N° 1107/70, Article 3
3. Other coapensations and aids
Sub-total7 142
4 505 
2 637
1 354
1 262  
924 871
4 216 
608 
47
9 684
8 496
1 177 
11
402 
14 937 
178 
1 723
4 645
3 287
4 496
69
987 _____
8 
8393 876 
570
39
4 450
2 514
1 176 
88
1 094
9
358 
14 175 
161 
1 549
4 468
3 026 
3 957
82
1 018 
8 083
Total expenses 33 914 32 030 Total revenue 30 342 28 436
91.0 Operating profit for the financial year -91.1 Operating loss for the financial year 3 572 3 594
XI. PROFIT AND LOSS SUMMARY
91.1 Operating loss for the financial year 
91.3.Exceptional losses 
91.4 Corporation tax3 572 
45 
43 594 
21 
391.0 Operating profit for the financial year 
91.2 Exceptional profits
91.5 Balancing subsidy
- Regulation (EEC) N° 1107/70, Article 4
- Other16 42
91.6 Profit for the financial year - - 91.7 Loss for the financial year 3 605 3 576

-  22  -
D B  - Financial Year 1980  
Explanatory Notes
Figures are given in millions of D M 
Balance Sheet  
Liabilities  
Account 00 - Capital
Own capital 19 220
Contributions from the State to cover losses  
carried over 100
Less State loans to increase the capital
not written off - 468
18 852
Account 05 - Long-Term Financial Debts  
The other financial debts include :
(a) Long-term debts 16 401
(b) Debts of 1 to 4 years 2 012
Cc) Part of other liabilities 1
18 414
Account 05 includes some DM 2340 mio by way of financial debts  
respect of companies in which DB has a shareholding.
DM 4 168 mio are payable in 1980.

- 23 -
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 disoosed of  
before the end of its normal lifetime the net book value of this asset is  
fully depreciated.
The items break down as follows
Description Gross ValueAccumulated
DepreciationNetValue
10.Land and 
Installations55 948 24 248 31700
11.Transport Stock  
and Equipment23 268 9 653 13615
12.Other Stock and  
Equipment3 997 1 889 2108
Account 15 - Long-Term Loans
Long term loans 1 991
Loans arising from other assets 265
Less valuation adjustment on fixed assets - 2
2 254
Account 15 includes DM766 mio in loans to companies in which DB has  
a snareholding.
Account 16 - Cost of Floating Loans and Loan Redemption Premiums  
The sum of DM 129 mio is the bond issue premium.
Account 20 - 21 - Stocks
Fuel - new 112
- old and waste 15
Stocks to fixed assets - new 787
- old and waste 164127
951
1 078

Account 30 - Debtors ~~
This account includes :
Advances 43
Claims arising from transport services, V':  ■
supplies and other services 1 112
Adjustments (assets, less bond issue premiums) 952
Less valuation adjustments to other current assets r,; 3. v  ,
' ■  V  J  · · t ' l  .  '
Account 31 - Creditors— . V i '  H’ f j i  *
This account includes :
Advances
Transport services, supplies and other services ,  2 943 
Adjustments (liabilities) ' àê '
3 060
Account 40 - Financial Debts of Less than One Year Term
The sum of DM281 mio is the remainder of the liabilities.
Account 41 - Loans Repayable Within One Year i/1  :  ,
The sum of DM152 mio is the remainder of' the assets. ;.■:■·.<·;·■?>
Accounts 43, 46 to 48 - Bank Balances and Cash  
Represent DM 1 130 m o.
Account 06-1 - Losses for Previous Financial Years
The loss of DM 4 611 mio in 1978 was set off against Government  
contribution to cover losses carried over /ccount 00 and against the  
reserves Account 01.
In principle DB is obliged to insert its losses in the balance sheet  
until Federal government has decided on coverage. Generally these losses ar<  
being compensated two years Later with capital grants to cover accumulated  
losses or with reserves. For these two iters DB receives annual payments
above the line.

- 25 -
I I. Profit and Loss Account
Account 60 - Staff Costs
This account includes
Total staff exDenditure 19 416
Social charges external to the company  
Pension charges external to the company413
12
19 841
The total can be broken down as follows :
Remuneration of staff in employment  
Retirement and pensions11 365
5 380
Social charges 3 096
19 841
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 3 794
Less tax (see Account 62) - 92
Expenditure on materials supplied and ser­
vices provided by third parties for the  
renewal and maintenance of fixed assets 6 052
Of this DM 6 052 mio, only DM 2 561 mio for the expenditure on main­
taining installations and equipment remains in the Profit and Loss Account.  
The other DM 3 491 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 8.2 mio which are taxes on behalf of  
personnel.9 754

- 26 -
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 2 340
Depreciation of obsolete fixed assets 234
Less :  .
(a) contributions to investment costs and si­
milar contributions from third parties - 269
(b) other credit items relating to mainte­
nance and renewal - 472
1 833
Account 65 - Financial Charges
Interest, premiums and subsidies on bonds
Interest on loans and other outside resources  
for increasing capital2 317
77
2 394
Account 71 - Financial Revenue
This account includes
Revenue from shares 40
Interest on loans and other revenue 138
178
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.) 391
Other operational revenue 1 332
1 723

27 -
This total may be broken down as follows :
Revenue from work done for, and supplied to  
third parties
Revenue from other activities, including rents  
Miscellaneous531 
1 034
158
1 723
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 1.54
3 491
4 645
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.'. 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 pensions2 944 
100
5
31
207
3 287
433
3
2 911 
651 
73 
413 
1 2
4 496

- 28 -
74.2 Regulation (EEC) N° 1107/70 (Article 3)
Road transport for apprentices 69
74.3 Other Compensation and Aid
Interest on Loans and other outside capital  
taken up to increase own capital 76
Interest in respect of improvement of the  
capital structure 911
987
The Federal Government allocations to cover losses carried over  
(DM 100 mio) for the repayment of loans and other outside resources  
for increasing capital (DM 688 mio) do not affect the results and are  
entered directly in the Balance Sheet. The tax on mineral oils (DM 279 mio)  
refunded by the State has been deducted from the expenditure on fuel contained  
in Account 61.
Account 91.2 - Exceptional Profits
This account contains the revenue arising from the adjustment of  
provisions and other profits (DM 16 mio).
Account 91.3 - Exceptional Losses
The sum of DM 45 mio may be broken down as follows :
Depreciation of long term loans and investments 2
Depreciation of other current assets 4
Other charges 39
45

- 29 -
SOCIETE NATIONALE DES CHEMINS DE FER FRANÇAIS (SNCF)

BALANCE SHEETT.43EL 4 a
at 31.12.1980 MIO FF
LONG-TERM ASSETS
F *  <e-,i Assets (Net)
10 Land and fixed installations
11 Transport stock and equipment
12 Other stock and equipment
13 Fixed assets under construction
Other f1xed assets
14 Shareholdings in cthr- undertakings
15 Long-term loans
16 Cost of floating loans and loan redemption 
pi e i l i  i  urns
17 Miscellaneous fixed assets
Sub-total
CURRENT ASSETS
Stocks
20 - 21 (In store or being manufactured)
Real 1  table assets 
30 Debtors
41 Loans repayable uithin 
one year
42 Bi iIs receivable 
45 Securities
Bank balances and cash
43-46-47-48 Cheques in hand, postal cheque accounts, 
bank accounts, cash in hand
Sub-total
Results
06. i  Losses for previous financial years 
07.1 Loss for the financial year
Assets :  Total19 8 0
44 412 
13 803 
631 
6 534
1 958 
371
994
14
10 527
120
302
23165 380
3 337
68 717
X3KXX3S
2 720 
11 230
548
14 498
ISSSSSSSS
5 396
4 722 1
674 j
13 6111979
44 210 
13 767 
588 
3 783
1 889 
348
* » < » 0
14
65 039
2 270
8 761
90
315
708
691
12 835
mikiunsii
4 830
82 704LIABILITIES
Capital ana reserves
00 Capital
01 Reserves
02 Contribution to investment costs
03 Provisions
04 Funds for staff
05 Long-term financial debts
- debentures
- State loans
stir · )  - a I  doht 5
Sub-total
Current liabilities 
31 Creditors
40 Financial debts of Less than one-year 
ter·
44 8ills payable
Sub-total
Results
06.0 Profits for previous financial years
07.0 Profit for the financial year
Liabilities :  Total1 9 8 0
14
42 887
20 969 
1 399
» AST
9 496
8 130 
2 05742 901 
6
26 021
68 928
19 683
■tUHISKt
88 611
K I R M S I »1979
14
44 759
10
16 598 
1 414 
3 5*6
65 611
U U 1 S U I S
8 875
6 273 
1 837
16 985
nitan»Hxn
108
82 704Bumse

- 31 -
PROFIT AND LOSS ACCOUNTTABEL 4 b
I.  GENERAL OPERATION
Undertaking :  SNCF MIO FF Year :1980
EXPENSES 1980 1979 REVENUE 1 9  8  0 1979
60. Staff costs
61. Material supplied and services performed 
by third part ies
62. Taxes and dues
63. Allocations for depreciation
64. Allocations to provision accounts
65. Financial charges26 405 
12 623 
660 
3 373 
8
2 65223 306 
10 964 
488 
” ”
2 28870. Traffic revenue
0. Passenger and luggage traffic
a) by rail
b) by road
c) by other means of transport
1. Goods traffic 
a) by rail
i) full trains and wagon loads
- national traffic
- international traffic 
ii) part loads and parcels
- national traffic
- international traffic
b) by road
c) other means of transport 
2. Postal traffic
Sub-total
71. Financial revenue
72. Other revenue
73. Contra of costs booked to other 
accounts
74. Compensations and aids received under
0. Regulation (EEC) N° 1191/69
1. Regulation (EEC) N° 1192/69
2. Regulation (EEC) N° 1107/70, Article 3
3. Other compensations and aids
Sub-total11 946
9 030 
2 916
2 709
2 451 
25810 579
10 405 
174
14 970
14 655
176
140
453 
26 on·* 
560 
2 420
1 897
4 315 
450 
4 123 
1 639
10 5279 155 
150
8 034
2 626
2 125 
204 
162 
129
374 
22 959 
311
2 039
1 463
3 «04 
440
3 472
1 532
9 248
Total expenses 45 721 40 405 Total revenue 41 407 36 070
91.0 Operating profit for the financial year_ <91.1 Operating loss for the financial year J 4 314 4 335
11. PROFIT AND LOSS SUMMARY
91.1 Operating loss for the financial year 
91.3.Exceptional losses 
91.4 Corporation tax
Special allocation to reserves4 314 
251
1694 335
22
1
26791.0 Operating profit for the financial year 
91.2 Exceptional profits 
91.5 Balancing subsidy
- Regulation (EEC) N° 1107/70, Article 4 .
- Other1 460
2 600
2 6001 432 
3 300
91. S Profit for the financial year 10·" ■  ■  ■  ■  ~  I  
91.7 Loss for the financial year 674....

- 32 -
SNCF - Financial Year 1980
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 rules  
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
DepreciationNetValue
10. Land and Fixed  
Installations75 237 30 825 44412
11. Transport Stock and  
Equipment37 309 23 506 13803
12. Other Stock and  
Equipment631 m631
113 177 54 331 58846
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

- 33 -
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 98 mio.
Accounts 20 and 21 - Stocks
Supplies 2 225
Work in progress 495
2 720
Account 30 - Debtors
Suppliers - down-payments and advances made on orders 299
Customers 1 982
Other debtors 3 144
Deposits and guarantees 7
Adjustments 940
Suspense accounts and items to be adjusted
Assets accounts for related services 4 155
10 527
Accoints 43 to 48 - Bank Balances and Cash
Various items in land 376
Bank balances, postal cheques and Treasury 38
Cash in hand 134
548

- 34 -
Liabi t itles  
Account 01 - Reserves
Statutory and contractual reserves 9 811
Difference in value after revaluation
(a) special reserve (non-depreciable assets) 26 173
Cb) special provision (depreciable assets) 6 903
42 887
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 1980.
Account 31 - Creditors  
Suppliers
Advances received from customers  
Other creditors  
Adjustments
Suspense accounts and items to be adjusted  
Liabilities accounts for related services
•  Profit and Loss Account
Account 60 - Staff Costs
Wages and operational bonuses  
Social charges2 404 
52 
4 252 
1 644
1 444 
9 496
17 716 
8 689
26 405

35 -
Account 61 - Materials Supplied and Services Performed by Third Parties
Purchase of materials 5 043
Work done and supplies and services provided
externally 7 122
Various administration costs 908
13 073
Less change in the stocks account - 450
12 623
Account 62 - Taxes and Dues
This account breaks down as follows :
Direct Taxes and Dues
- business tax 354
- property and dwellings tax 104
- tax on interest and repayment premiums 25
- regular and special contributions relating to 53
apprenticeships and training
- payments relating to public transport 91
- other direct taxes and dues 8
- payroll tax 1
Registration and Stamp Duty - Vehicle Tax on Cars 24
660
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) 3 375

- 36 -
Account 73 - Contra of Costs Booked to Other Accounts
Work done by SNCF on its own behalf (to create fixed assets)  
Less non-operational work and expenditure1 848 
49
1 897
Account 74 - Compensation and Aid Received  
This account breaks down as follows :
74.0 Regulation (EEC) N° 1191/69
Compensation for tariff reductions
(a) Mainline network
(b) Paris suburban network  
Compensatory allowances  
Compensation for increased tariffs
Compensation for other tariff reductions
(a) Newspapers
(b) Regional adjustments
Obligation to operate  
- Military lines
Other compensations
74.1 Regulation (EEC) N° 1192/69
Cost of level crossing facilities  
Reduction of the cost of loans1 733 
1 113 
711 
193
63
46
5
451 
4 315
444
6
450
74.2 Regulation (EEC) N° 1107/70  
Infrastructure cost
Insufficiency of tarrifs not covered by Reg. 1191/69
74.3 Other Compensations and Aids  
Payments from local authorities :
(a) Reduction of depreciation cost (Paris suburbs)
(b) Compensations for tariff reductions and compensatory  
allowances3 949 
174
4 123
197 
1 442 
1 639

3 f -
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 169 mio·
Account 91.2 - Exceptional Profits  
This account covers :
(a) the difference in value after revaluation
(b) surpluses realized from the sale of  
depreciable assets
non-depreciable assets
Cc) various profits
(d) profits and regulations of state payments  
of previous years
Account 91.3 - Exceptional Losses  
This account covers :
(a) various losses 19
(b) losses and regulations of state payments
of previous years 2321 015 
70
169
12
194

- 38 “
AZIENDA AUTONOMA DELLE FERROVIE  
DELLO STATO (FS)

“ 39 -
BALANCE SHEET TABEL 6 a
urdertaking :  FSat 31.12 1980 1rd LIT
ASSETS 19  8  0 1979LIABILITIES19  8  0 1979
lo n g -t e r m  a s s e t s
F 1n?d Asset s iNet)6 839 Capital and reserves
10 Land ana *-xed installations
11 Transport stock and equipment
12 0ther stock and equipment
13 Ftxed assets under construction3 704 
2 9563 250 
2 57000 Capital
01 Reserves45 
1 902 1 94745
1 594
179 156 02 Contribution to investment costs
03 Provisions
04 Funds for staff2 351 
9942 086 
878
Other fi*eo assets369
1705 Long-term financial debts 12 134
K Shareholdings in other undertakings 23- debentures 2 515 2 072 i
15 Long-term loans 1*- State loans 3 404 6 93? j
16 Cost of floating loans and ioan redemption 
premiums346 309- other financial debts 1 215 1  403 '
i
]  17 Miscellaneous fixed assets
j  Sub-total
I7 208
usa«sss«t>:6 303
SItlSISHBIMSub-total 17 426
l a m u u n t15 015 !
xtsisns sssss
CURRENT ASSETS
j  Stocks
20 - 21 (In store or being manufactured)978 797
Realizable assets1 445
30 Debtors1 445 874
41 Loans repayable within
one year
42 8i Us receivable—* Current liabilities
45 Securities—31 Creditors 3 460. 2 481
Bank balances and cash40 Financial debts of less than one-year 
tern 4 8
«3-46-47-48 Cheques in hand, postal cheque accounts, 
bank accounts, cash in hand
Sub-total
Results
06.1 Losses for previous financial years
07.1 Loss for the financial year1 268 898 44 BilIs payable - -
8 522 
1 4693 691
n s c n r s n s j
9 9912 569
■M S n S S S B « *
7 415 
1 217Sub-total
Results
06.0 Profits for previous financial years
07.0 Profit for the financial year-3 464
s w e t m t m2 489
Assets : Total 20 890
B s s s s n s s « * ] *17 504Liabilities :  Total20 890
B X U lt t M I B *  t17 504
n a c t a s t t u · !

_ 40 -
PROFIT A N D  L O S S  A C C O U N T
I. G E N E R A L  O P E R A T IO N
Undertaking :  fS Mrd LIT Year - 1980
EXPENSES I960 1979 REVENUE1 9  8  0 1979
60. Staff costs
61. Material supplied and services perforated 
by third parties
62. Taxes and dues
63. Allocations for depreciation
64. Allocations to provision accounts
65. Financial charges3 484 
1 672 
108
541
4582 612 
1 345 
95
434
42070. Traffic revenue
0. Passenger and luggage traffic
a) by rail
b) by road
c) by other Beans of transport
1. 6oods traffic
a) by rail
i) full trains and wagon loads
- national traffic
- international traffic 
ii) part loads and parcels
- national traffic
- international traffic
b) by road
c) other «eans of transport
2. Postal traffic
Sub-total
71. Financial revenue
72. Other revenue
73. Contra of costs booked to other 
accounts
74. Coapensations and aids received under
0. Regulation (EEC) N° 1191/69
1. Regulation (EEC) N° 1192/69
2. Regulation (EEC) N° 1107/70, Article T
3. Other compensations and aids
Sub-total880
601
4
1 485 
35 
173 
642
1 278 
369
1 647751
501
1
1 253 
26 
149
508
806
416
1 222
Total expenses 6 263 | 4 906 Total revenue3 982 3 158
91.0 Operating profit for the financial year
-  1 _ _ _ _ _ _ : _______91
.1 Operating loss for the financial year2 281 j 1 748
11. PROFIT AND LOSS SUMMARY
91., Oper-iting loss for the financial year 
91.3.Exceptional losses 
91.A Corporation tax2 261
11 7 4 6
191.0 Operating profit for the financial year 
91.2 Exceptional profits
91.5 Balancing sub£*dy
- Regulation (EEC) N° 1107/70, Article 4
- Other83
730
730.49
483
91.6 Profit for the financial year - 91.7 Loss for the financial year
----------------------------------------------------------------------------------- -1 469 1 217

4 1  -
FS - FINANCIAL YEAR 1980  
Explanatory Notes
Figures are given in milliards (thousands of millions) of LIT.
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 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 978 mrd includes work in progress in FS workshops;  
not all of this is concerned with stocks.
Account 06.1 - Losses for Previous Financial Years
The amount entered in this account includes LIT 8 522 mrd covered  
by loans. The difference of LIT 110 mrd between the amount LIT 8 632 mrd in  
1979 and the amount LIT 8 522 mrd in 1980 represents a repayment.
Account 07.1 - Loss for the Financial Year
LIT 947 mrd of the loss for the financial year is covered by advance  
loans from the Treasury Ministry.

-  42  -
Liabi Lities  
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 1 542 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 9 469 mrd in respect of long term debt to  
cover losses. This is made up as follows :
Debenture loans 1 069
State loans 8 400
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 427 mrd (Eurofima).
II.  Profit and Loss Account  
Expenses
Account 62 - Taxes and Dues9 469
The amout entered in this account is made up as follows :
Taxes on land and buildings 1.0
Non-deductible VAT 15.8
VAT not recoverable from users 91.5
108.3

- a 3 ~
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 202 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).
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 74 - Compensatory and Aid
These are made up as follows :
74.0 Regulation (EEC) N° 1191/69  
Operation of :
(a) low-traffic lines 632
(b) unprofitable installations 17
(c) ferry services to Sardinia 23
(d) substitute road services 0
Tariff obligations 165
Expenses arising from tariff obligations 405
of a social nature
Mail transport 36
1 278

- 44 -
74.1 Regulation N° 1192/69
Ey^énditure of a social nature (Class II) 16
Superannuation and pensions (Class III) 30
Level crossings (Class IV) 53
Recognition of services to the country (Class X) 16
Conditions in respect of the placing of public 17
tenders (Class XIV)
Lack of normalization in the past (Class XV)
(a) interest on loans for the renewal of instal- 35  
lations
(b) financial charges (capital and interest) on 202
loans contracted to cover deficits --
369
Ac
count 91.7 - Loss for the Financial Year
As mentioned in the Note to Balance Sheet Account 07.1, the loss  
for the financial year includes the sum of LIT 947 mrd already covered  
by State loans.

-  45  -
SOCIETE NATIONALE DES CHEMINS DE FER  
LUXEMBOURGEOIS (CFL)

- 46 -
BALANCE SHEET  TAe£L 7 a
i-rei-taking :  CFL at 31.12.1980 Mio LFR
ASSETS 1  9  a  o 1979 LIABILITIES 1  98  0 1979
LONG-TERM ASSETS
Fixed Assets (Net) 5 377 Capital and reserves
10 Land and fixed installations 737 673 00 Capital 1 600 1 600
11 Transport stock and equipment 1486 1 408 01 Reserves 953 2 553 988
’2 Ot^er stock and equipment 37 38 02 Contribution to investment costs - -
j  13 Fixed assets under construction 1117 964 03 Provisions 368 358
' Otner fixed assets
|  14 Shareholdings in otl·-- undertakings
15 Long-term loans
16 Cost of floating loans and loan redemption 
premiums5252
5104 Funds for staff
05 Long-term financial debts
- debentures
- State loans
- other financial debts271
469
4671 207 295
476
366
17 Miscellaneous fixed assets
Sub-total 3 429
aiiiaaisaas:3 134 Sub-total 4 128assssssxssrc4 083
SBBBSBBSSSSS:
CURRENT ASSETS
Storks
j 20-21 (In store or being manufactured) 581 528
Realitable assets 1 331
30 Oebtors 1065 922
41 Loans repayable within 
one year 200 500
42 Gi Us receivable - —Current liabilities
45 Securities 66 7031 Creditors 958 803
Sank balances and cash
43-46-47-48 Cheques in hand, postal cheque accounts, 
bank accounts, cash in hand 14 2340 Financial debts of less than one-year 
term
44 Bills payable396 425
Sub-total
j Résulte1 926ntutsssssi
1272 043
CMSBSSSSXtaSSub-total
Results1 354
isasscasMBs1 228
laBZSBSBBX SSS:
06.1 Losses for previous financial years
07.1 loss for the financial year127 134 06.0 Profits for previous financial years
07.0 Profit for the financial year—
•
Assets :  Total * 5 482.sasannuBsssvs
.......- J ________5 
311ssassssssnnLiabilities :  Total

-  L ? -
PROFIT A N D  LOSS A C C O U N TTABEL 7 b
I. 6ENERAL OPERATION
UridertaKTTig ; CFL Hic LFR Year : 1930
EXPENSES 1980 1979 REVENUE 1 9  8  0 1979
60. Staff costs'
61· material sucolied and services performed 
by third parries
62. Taxes and tsj*s
63· Allocations *or depreciation
64. Allocations ro provision accounts
65. Financial marges5 025 
547 
55 
427 
185 
16S4 561 
459 
55 
389 
171 
16770. Traffic revenue
0. Passenger and luggage traffic
a) by rail
b) by road
c) by other means of transport
1. 6oods traffic
a) by rail
i) full trains and wagon loads
- national traffic
- international traffic 
ii) part loads and parcels
- national traffic
- international traffic
b) by road
c) other means of transport
2. Postal traffic
Sub-total
71. Financial revenue
72. Other revenue
73. Contra of costs booked to other 
accounts
74. Compensations and aids received under
0. Regulation (EEC) N° 1191/69
1. Regulation (EEC) N° 1192/69
2. Regulation (EEC) N° 1107/70, Article 3
3. Other compensations and aids
Sub-total1 512
221 
1 291
39
1
38244
216
28
1 572
1 S51 
21
1 816 
62 
108
1 699 
1 389 
1 093
4 181204
28
265
1 279
1
39
18
1 834
52
111
1 629 
1 428 
641
3 698
Total expenses 6 402 5 802 Total revenue 6 167 5 695
91.0 Operating profit for the financial year - 91.1 Operating loss for the financial year 235 107
II. PROFIT AND LOSS SUtWARY
91.1 Operating loss for the financial year 
91.3.Exceptioral losses 
91.4 Corporation tax235
610791.0 Operating profit for the financial year 
91.2 Exceptional profits
91.5 Balancing subsidy
- Regulation (EEC) N° 1107/70, Article 4
- Other26
-
91.6 Profit for the financial year91.7 Loss for the financial year 215 107

-  48
CFL - FINANCIAL YEAR 198Q  
Explanatory Notes
Figures are given in millions of LFR
I. Balance Sheet  
Assets
Accounts 10 to 12 - Fixed Assets
The amounts represent the net value of the assets built and acquired :
Description Gross ValueAccumulated
DepreciationNet Value
10. Land and Fixed  
Installations1 289 552 737
11. Transport Stock  
and Equipment2 783 1 297 1 486
12. Other Stock  
and Equipment148 111 37
4 220 1 960 2 260
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 current prices.
Account 30 - Debtors
Miscellaneous debtors 349
Expenses prepaid 366
Costs for 1981 paid in 1'v3;> 350
1 065

- '49-
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 1 168 
paid off
Less amount withdrawn to cover the deficit for 1980 - 215
Account 03 - Provisions953
Insurance Fund » : .  2Q1
Fund for the recovery of initial expenses 167
368
Account 05 - Long-Term Financial Debts 
Other financial debts are :
Cash advances which can be consolidated 250
Debts to company in which CFL has a shareholding '  217'
(Eurofima) --46
7
Account 31 - Creditors
Shareholders '  48
Other creditors 475
Customer creditors 6
Income received in advance 377
Costs to be paid 52
958
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.

-  50 -
Account 62 - Taxes and Dues are
Municipal payroll tax,
Municipal trade tax and
Property tax
Accoutn 64 - Allocations to provision accounts
31 
154
185
Revenue
Account 74 - Compensation and Aid Received
Regulation (EEC) N° 1191/69 - Passenger traffic 1 699
Regulation (EEC) N° 1192/69 - Family allowance^ 33
Superannuation and pensions 1 494  
L^vel crossings 16
Lack of normalization in the past 5  
Too much collected in 1977 - 159
1 389
Regulation (EEC) N° 1107/70 * Infrastructure cost 1 093
Profit and Loss Summary
91.7 Loss for the Financial Year
See the Notes to Balance Sheet Account 07.1.Allocation to Insurance Fund  
Allocation to Reserve Fund

51 -
NEDERLANDSE SPOORWEGEN (NS)

52*
A L A N C E SHEETTA8EL » A
t’ nn?rtrtking ■S
ASSETS
L0N6-TERH ASSETS 
fixed Assets (Net)
TO Land and fixed installations 
IT Transport stock and equipaent 
1- Other stock and equipaent 
15 fixed assets under construction
Other fixed assets
14 Shareholdings in ctht undertakings
15 Long-ter» loans
16 Cost of floating loans and loan redeaption 
preaiuas
IT Miscellaneous fixed assets
Sub-total
CliRREWT ASSETS
Stocks
2 0 - 2 1  (In store or being aanufactured)
RealiaaPte assets 
50 Debtors
41 Loans repayable uithin 
one year
42 Bit Is receivable 
4S Securities
Bank balances and cash
45-46-47-46 Cheques in hand, postal cheque accounts, 
bank accounts, cash in hand
Sub-total
Besuits
06.1 Losses for previous financial years
07.1 Loss for the financial year10 8 0
1 S70 
828
970
4SI 
1 018
248
168
29
Assets : Total1 469
S  1 S T•aaaxmsni mnanai««·
101
416
67
684Kttssnu«
29
8S05T.i2.1980
1979
1 7J5 
746
721
427 
1 07«
4  727
184
267
117
632
31
5 390LIABILITIES
Capital and reserves
00 Capital
01 Reserves
02 Contribution to investaent costs
03 Provisions
04 Funds for staff
05 Long-tera financial debts
- debentures
- State loans
- other financial debts
Sub-total
Current liabilities 
31 Creditors
40 Financial debts of less than one-year 
tera
44 Bills payable
Sub-total
Results
06.0 Profits for previous financial years
07.0 Profit for the financial year
Liabilities : Total.410 HFL
1 9 8 0
484
2 012
225 
58 
1 664
472
1342 496 
699 
91
31 
1 927
5 244
606
5 850
•M U IS IM Ili1979
1 964 
495 
102 
29
245 
44 
1 455
4 «18
464
1 0«
572
M U  :8S«S«BVMMsa
S 39088«««SS*·

PROFIT A N D  LOSS A C C O U N TT  A8EL 8 b
I. 6ENERAL OPERATION
Undertaking : NS n i o h f l Year : 1980
EXPENSES 1960 1979 REVENUE 1 9  8  0 1979
60. Staff costs
61. Material supplied and services performed 
by third parties
62. Taxes and dues
63* Allocations for depreciation
64. Allocations to provision accounts
65. Financial charges
»1 482 
618 
S
215
159
1431 416 
519 
5
202
133
14470. Traffic revenue
0· Passenger and luggage traffic
a) by rail
b) by road
c) by other Beans of transport
1. Goods traffic
a) by rail
i) full trains and wagon loads
- national traffic
- international traffic 
ii) part loads and parcels
- national traffic
- international traffic
b) by road
c) other Beans of transport
2. Postal traffic
Sub-total
71. Financial revenue
72. Other revenue
73. Contra of costs booked to other 
accounts
74. CoBpensations and aids received under
0. Regulation (EEC) N° 1191/69
1. Regulation (EEC) N° 1192/69
2. Regulation (EEC) N° 1107/70, Article 3
3. Other coopensations and aids
Sub-total296
102
194
5
1
4 20859
859
321
321
25 
1 205 
106 
72 
247
808
45772
100
189
1
4
20
31
1 117 
115 
75 
215
769
43
853 812
Total expenses 2 622 2 419 Total revenue 2 483 2 334
91.0 Operating profit for the financial year - - 91.1 Operating loss for the financial year 139 85
II. PROFIT AND LOSS SUMMARY
91.1 Operating loss for the financial year 
91.3.Exceptional losses 
91.4 Corporation tax139 85 91.0 Operating profit for the financial year 
91.2 Exceptional profits
91.5 Balancing subsidy
- Regulation (EEC) N° 1107/70, Article 4
- Other110
110 54
91.6 Profit for the financial year - - 91.7 Loss for the financial year I  2 931

- S A ­
NS - FINANCIAL YEAR 1980
Explanatory Notes 
Figures are given in millions of HFL.
I. BALANCE SHEET
Account 00 - Capital
The company's share capital consists of HFL 1 mrd divided into 
one million shares of HFL 1 000 each, of which HFL 484.4 mio were issued 
and paid up as at 31 December 1930.
Account 01 - Reserves
This account contains in particular
General reserve 
Revaluation reserve 
Investment reserve 
Reserve for shareholdings
Account 02 - Contributions to Investment Costs
This account contains the investment grants from the State and the 
premiums paid in accordance with the "Wet Investeringsrekening (WIR)".
Account 03 - Provi sions
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 04 - Funds for Staff
This item consists of a provision for early retirement pensions (a 
percentage of the total amount of pension contribution is paid into this 
reserve each year) and pension commitments which are not covered by thethe following :
965
648
94
305

- 55 -
railway's pension fund. The contribution to this i  und is included in the 
pension cost of Account 60. The State also contributes to the railway's 
pension fund.
Account 05 - Long-Term Financial Debts
These are debts which still have more than -  year to run. The annual 
repayments which have to be made on the long-term loans in the next year are 
included under Account 40.
The debts are entered at nominal value.
Foreign currency loans are converted at teh latest exchange rate in 
1980. The exchange difference is entered in the Account 01.
The 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 which NS has 
a shareholding.
Long-Term Assets
The assets are listed at acquisition value less the calculated depreciation 
based on the number of years of useful economic life which have elapsed. Land is
not depreciated.
Account :  10 11 12 13 14
Primo value 1 755 746 721 427
+ increase 224 149 25 249 30
- deciease - 3 6
- depreciation 109 64 25 j; __ _
Ul
timo value 1 870 828 - 970 451
Account 10 - Expenditure on the maintenance of permanent way (except on streng­
thening) is charged to the operational Account 64.
Account 11 - includes stock and equipment obtained from Eurofina on hire purchase.
Account 12 - Purchases of machinery, tools and service vehicles are in the course
of the year (HFL 25 mio).

-5b -
Account 13 - Fixed Assets under Construction
Expenditure which should not appear on the assets side is deducted 
from the expenditure incurred. Depreciation commences on entry into service.
Land and fixed installations 762
Transport stock and equipment 203
Other stock and equipment 5
970
Account 14 - Shareholdings in Other Companies
The value of the shareholdings in other companies is estimated as NS' share 
at the intrinsic value shown in the most recently published Balance Sheets of the 
companies in question "Intrinsic value" means own capital listed in the annual 
accounts, with due allowance for profit or loss.
Account 15 - Long-Term Loans
These loans mainly include :
(a) claim on the State for losses prior to 1976 927
(b) financing of new lines 77
(c) loans granted 14
(including HFL 3 mio to a company in which NS has a shareholding)
Except for the unquoted stocks and shares coming under this acocunt, the 
claims are listed at nominal value. The unquoted shares are valued at the estimated 
proceeds from sale, not exceeding the nominal value.
Account 20 - Stocks
The 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 1980 price level, less a provision for 
obsolescence. Any price differences are credited to or debited from the Reserve 
for Revaluation Account 01.
Account 30 - 31 - Debitors and Creditors
These accounts are taken up to nominal value on debitors less the provisions 
considered necessary.

_ 57 _
Account AO - Financial Debts of Less than One Year Term
This account covers the redemption in the coming year fcr loans with a 
remaining term of more than one year.
Repayments of foreign-currency loans are converted into HFL. The short­
term debts are listed at nominal value at the latest exchange rate in 1980.
The exchange difference is charged to own capital nder the Reserve for 
Revaluation (Account 01).
Account 41 - Loans repayable within a Year
This account lists the part of the claim on the State resulting from 
accumulated losses prior to 1976 and falling due in the coming year (HFL 73.3 mio) 
and short-term investments (to nominal value). The short-term claims are listed 
at nominal value.
Account A3 - 48 - Liquid Assets
The liquid assets are listed at nominal value.
.  Profit and Loss Account 
Account 60 - Staff Costs
The sum entered in this account can be broken down as follows :
Remuneration 929
Social charges 531
Other staff costs 22
Staff costs can be broken down into three categories :
Remuneration Average number of staff in 1980
Operation 595.0 18 089
Technical services 189.1 6 068
Other services 145.3 2 846
929.4 27 003
The social charges of 531 mio HFL include the employers' pension contributions 
(paid to the NS Independent Pension Fund) - 130.1 mio HFL - and an allocation to the 
provision for early retirement - 42,7 mio HFL.

- 58 -
Account 61 - Material Supplied and Services Performed by Third Parties 
This account includes :
(a) supplies from and maintenance by third parties 297
of which for fixed installations 147
for rolling stock 110
(b) the costs of electricity, fuel and communications 208
(c) the costs of automatic data-processing 46
Account 62 - Taxes and Dues 
This account includes
non-deductible VAT, property tax, environmental taxes and other deductible taxes.
Account 63 - Allocations for Depreciation
This item contains depreciation on the basis of the acquisition value
(a) depreciation allocation 151
(b) additional depreciation (in goods traffi 29
(c) expenditure which should not be shown on the
assets side 39
(d) book value losses 3
(e) amortization on WIR-investment grant - _7 215
Account 64 - Allocations to Provision Accounts
This account covers allocations :
(a) to the provision account for the maintenance 139.7
of the permanent way
(b) for the modification and improvement of rolling stock 6.3 
Account 65 - Financial Charges
This account covers the interest paid, less the cost of financing new lines 
which should be entered on the asset side.
Account 71 - Financial Revenue
Apart from interest received this account includes the corporation tax for 
1979 transferred to NS in 1980 by its consolidated subsidiaries; no corporation 
tax was due from NS in 1979 because of its deficit.

59 "
Account 72 - Other Revenue
This account also inludes general expenses, direct wages and the indirect 
cost of material charged to third parties (HFL 19 mio).
Account 73 - Contra of costs
This account includes the costs entered in 'Vccounts 60 and 61 and charged to 
fixed assets, provisions or third parties, e.g. the estimated costs of preparation 
and supervision involved in carrying out works.
Account 74 - Compensation and Aid
74.0 Regulation (EEC) N° 1191/69
Maintenance of passenger traffic 808
74.1. Regulation (EEC) N° 1192/69
Crossing facilities 45
Account 91.5 - Balancing subsidy
- Regulation (EEC) No. 1107/70, art. 4 110
Account 91.7 - Operating Loss for the Financial Year
NS recorded a loss of HFL 29 mio in 1980. This amount relates to the 
additional depreciation of fixed assets used exclusively for goods traffic.

-  60 "
SOURCES AND APPLICATION OF FUNDS STATEMENT
YEAR 1980
SOURCES
Loss for the financial year 
Deprec i  ati on
Cash flow
Amortization of loans taken over 
by the government
State grants in investment projects 
Loans taken up
Other changes in long-term debts 
State grants in crossings Cdepr.)
Balance of short term receivable and debts1980
•  28.8 
200.6
171.8
49.3
215.0
285.0 
22.6
14.1
83.11981
- 31.2 
189.5
158.3
48.4
253.3 
49.8 
14.3 
12.6
- 61.7
840.9 475.0
APPLICATIONS
Investments in
- existing network
- new lines
On the assets side imputed net financial 
costs on behalf of
- new lines
- stocks
Amortisation of loans 
Provi sions
Change in long-term receivable 
Foreseen rectifications of state-grants
Changes in liquid resources435.2
210.5
12.6
9.6
667.9
108.2
7.0
1.5
26.7326.4
216.2
9.6 
3 .
555.3
129.0
- 28.o
3.2
- 69.8
811.3
29.3589.4
114.4

f t 1  -
BRITISH RAILWAYS BOARD (BRB)

62
BALANCE SHEET  TABEL 9 a
Unoe.-t s.* ·  - g ‘  B RB at 31.72.1980
ASSETS 19  8  0 1979 LIABILITIES 1 9  8  0 1979
LONG-TERM ASSETS
Fixed Asset. 'Net) 1 317.5 Capital and reserves
10 Land ana *i*ed installations 532.0 508.4 00 Capital - _
11 Transpoi—  stock and equipment 684.8 558.601 Reserves548.7 548.7 462.6
12 Other st'·..·'« and equipment 100.7 84.602 Contribution to investment costs -
13 Fixed ass»*~s under construction- -03 Provisions 35.6 39.8
Other fixed -isets
14 Shareho*.«.: — gs in cth«?»- undertakings
15 Long-ten^ .oans
16 Cost of " oating loans and loan redemption 
premiums2.0
6.18.1
2.0
970.004 Funds for staff
05 Long-term financial debts
- debentures
- State loans
- other financial debts429.5
191.319.3
620.8945.9
546.4
382.8
163.6
17 Miscellaneous fixed assets
Sub-total 1 325.6
nssssxxsssj2 123.6
tsssssxscnnSub-total1 224.4 1 994.7
CURRENT ASSETS
Stocks
20 - 21 <Ir. ito^e or being manufactured) 198.6 186.9
Realizable assets213.0
30 Debtors 211.2 226.6
41 Loans re&a/able Kith-in
one year 1.8 1.9
42 Bills rer^vable- -Current liabilities
45 Securities•“31 Creditors 449.9 394.5
Bank balance's and cash
43-46-47-4B Cheques in hand, postal cheque accounts, 
tank accounts, cash in hand 9.1 11.940 Financial debts of less than one-year 
term
44 8i Us payabLe107.3 120.1
Sub-total
Results420.7n » — »ss::
76.9427.3uxxssesssats
0.4Sub-total
Results557.2__
41
.6514.6
06*1 Losses * o r previous financial years * • 06.0 Profits for previous financial years41.6 42
07.1 Loss 1>yf tfce financial yeari76.9 -07.0 Profit for the financial year
Assets :  Total
i;  823.2 2 551.3Liabilities :  Total1 823.2KS8KSH393 :2 551.3»«8SSW8M»

-  63 -
PROFIT AND LOSS ACCOUNT TABEL 9 b
I. 6ENERAL OPERATION
Undertaking :  8RB mio UKL Year :  1980
EXPENSES 1980 1979 REVENUE 1 9  8  0 1979
60. Staff costs
61. Material sumo Lied and services perforated 
by third pair-ties
62. Taxes and cttues
63. Allocations *or depreciation
64. Allocations to provision accounts
65. Financial charges
!1 617.7 
1 228.7 
0.2 
131.0
71.31 376.8 
856.2 
0.1 
109.4
62 .  970. Traffic revenue
0. Passenger and luggage traffic
a) by rail
b) by road
c) by other means of transport
1. Goods traffic
a) by rail
i) full trains and wagon loads
- national traffic
- international traffic 
ii) part loads and parcels
- national traffic
- international traffic
b) by road
c) other means of transport
2. Postal traffic
Sub-total
71. Financial revenue
72. Other revenue
73. Contra of costs booked to other 
accounts
74. Compensations and aids received under
0. Regulation (EEC) N° 1191/69
1. Regulation (EEC) N° 1192/69
2. Regulation (EEC) N° 1107/70, Article 3
3. Other compensations and aids
Sub-total448.9
91.41 141.6
1 020.2 
121.4
656.4
540.3
15.0
101.1
49.4 
1 847.4
4.8
176.8
290.7
633.5
15.2
3.5
652.3855.8
108.7
430.2 
89.5
14.0
89.2
40.9 
1 628.3
3.9
164.2
231.6
522.5
12.9
2.7
538.1
Total expenses 3 048.9 2 564.7 Total revenue 2 972.0 2 566.1
91.0 Operating profit for the financial year 1.491.1 Operating loss for the financial year
______________________________________________I _76.9 -
II. PROFIT AND LOSS SUWARY i
------------ 1  ----- ------
91.1 Operating loss for the financial year 
91.3.Exceptiormi losses 
91.4 Corporation tax76.9 1.8f
91.0 Operating profit for the financial year 
91.2 Exceptional profits
91.5 Balancing subsidy
- Regulation (EEC) N° 1107/70, Article A
- Other-1.4
91.6 Profit for the financial year 91.7 Loss for the financial year 76.9 1.4

I
- 64 -
BRB - FINANCIAL YEAR 1980
, Explanatory Notes
Figures are given in millions of UKL.
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 31 December 1978 and the revised 
value included in the capital account. The surplus (UKL 97 mio) on reva­
luation and on sales of non-operational property were 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 normal way. 
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 lease payments is charged to the Account 65.
3. Special Replacement Allowance
A sum of UKL 69 mio 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).
II.  Balance Sheet 
Assets
Accounts 10 to 13 - Fixed Assets
The amounts included are made up as follows :

- 65 -
Account 10 1112total
Value first of year 508.3558.185.21 151.6
+ purchases and additions 57.9138.126.5 222.5
- Disposals/transfers 22.6(26.3)(1.7) (5.4)
- Depreciation 11.3 21.19.7 42.2
Value end of year 532.0 6C* .8100.71 317.5
Includes an adjustment in respect of Railway Finance Ltd. assets transferred 
during year.
Account 13
These amounts are included in Accounts 11 and 12.
Account 14 - Shareholdings in Other Companies
The sum of UKL 2.0 mio is the total book value of shareholdings in 
other undertakings.
Account 15 - Long-Term Loans
The commitment of UKL 925.3 mio to staff pension fund has oeen cancelled 
and the loan of UKl 33.6 mio has been repayed (see account 04).
Accounts 20 and 21 - Stocks
Stocks in store 219.5
Less provisions accounted for 29.9
Stocks being manufactured 9.0
198.6
Liabilities 
Account 01 - Reserves
Capital reserves 490.5
General reserve 58.2
548.7

- 66 -
Account 20-21 - Stocks
Mechanical and Electrical Engineering
Stocks for external sales
Ci vil Engi neeri ng
Signal Engineering
Fuel for Traction
Scrap Stocks
Non-Rail Activities
Other (Sundries, Goods-in-Transit,
Mi seel laneous)
Less Provisions
Stock being manufacturedRaiIway 
Workshops
100.4
2.7
1.6
1.6
0.3
19.3
125.9
13.1
112.8
112.8Rail Regions 
and other 
activities
33.3
25.1
9.5
4.8 
4.7
14.0
2.2
93.6
16.8
76.8 
9.0
85.8Total
133.7
2.7 
26-7 
11.1
4.8
5.0 
14.0
21.5
219.5 
29.9
189.6
9.0
198.6
Stocks are mainly valued at cost (average purchase price basis) reduced by 
a provision against obsolescence.
Account 60 - Staff Cost„ Approximate
Cost Number
RaiIway
Salaried - Administrative, technical and clerical
and Police 370.452000
Wages- Operations and Traffic 514.273coo
Rolling Stock 165.423000
Permanent Way 195.427000
Others 20.43000
OtherBusinesses British Rail Engineering Ltd 217.737000
Other 134.225000
1 617.7 2'0 000

- 67 -
Account 03 - Provisions
General Obsolescence Provision 26.6
Internai Insurance Provision 9.0
35.6
Account 04 - Funds for Staff
The sum of IIKL 925.3 mio was the contra of the equivalent amount 
included in account 15. Under the provision of the 1980 transport act 
the funding debts were cancelled as at 30th June 1980.
Account 31 - Creditors
Interest due on capital liabilities to secretary of state 12.2 
Creditors and debts outstanding 437.7
The main item in this account is gross staff costs which include449.9
III. Profit and Loss Account
Expenses
Account 60 - Staff Costs
Salaries and wages 1 381.7
Pension Costs 65.7
Other Social Charges
- National Insurance
- Other134.9
35.4 170.3
1 617.7
Pension Costs are the Board's contribution to Pension Funds as employe

- 68 -
Account 61 - Material Supplied and Services Performed by Third Parties 
Fuel and Power
Oil 128.A
Electricity 64.0 192.4
Materials, supplies and services 1 049.8
Other (13.5)
1 228.7
Account 62 - Taxes and Dues
A standard rate of 15 % is applied to all positively rated railway 
traffic. VAT is included in the cost of most services performed by third 
parties and also on the cost of supplies and equipment.
Every three months a settlement of the differences between the VAT 
collected and that paid. The VAT is dealt with through a suspense account 
system and is not included in the published accounts.
Account 65 - Financial Charges
Interest payable to Government 39.7
Other interest charges 23.9
Leasing charges 6.1
Other charges 3.4
71.3
Revenue
Account 70.0 - Passenger and Luggage Traffic 
(a) Rai l
Passenger fares 953.6
Station catering 45.4
Train catering 21.2
1 020.2
(b) Road
(c) Other Means of Transport
Ships 108.3
Hovercraft 13.1
121.4

' S  9 -
Account 70.1 - Goods Traffic
International traffic includes only wagon traffic using ferries 
i.e. traffic carried by rail outside the BRB system.
Account 72 - Other Revenue 
Revenue from :
Railway workshops 39.6
Ports 10.5
Hotels 42.0
Non-operational property 13.7
Operational property - letting 34.0
Transmark 6.1
Miscellaneous 30.9
176.8
Account 73 - Contre of costs 
To account
60. Staff Cost 77.5
61. Materials supplied and Services performed 
by thi rd part ies
Fuel and Power 1.1
Materials, Supplies and
Services 209.3 210.4
63, Depreciation 2.8
290.7
Account 74 - Compensation and Aid
74.0 Compensation for public service
obligations 633.5
74.1 Compensations for crossing facilities 15.2
74.2 Research grants 3.5

- 70 -
MODEL SCHEMA OF SOURCE AND APPLICATION OF FUNDS
(BRB 1980)
£m.
SOURCE OF FUNDS
Increase in equity of shareholders 
Other increases from shareholders 
Funds for staff (1.3)
Long-term financial debts
- debentures
- state loans 60.0
- other 27.7
Internally generated
Sale of scrap assets 39.4
Profit/(Loss) (76.9)
Adjustment for items not involving the movement of funds 
Depreciation and amortisation 131.0
179.9
APPICATION OF FUNDS
Decrease in equity of shareholders
Repayments of long-term financial debts 13.3
Purchase of assets
- fixed assets 222.5
- shareholdings in other undertakings 
Working Capital
Current assets - increase/(decrease)
- stocks in store and being manufactured 11.7
- debtors (13.4)
- loans repayable within one year (0.1)
- bank balances and cash ( 2.8)
Current liabilities - (increase)/decrease
- creditors (62.3)
- financial debts of less than one year 12.8
Other (1.8)
179.9

7'  ~
NORTHERN IRELAND RAILWAYS 
COMPANY LTD. (NIR)

BALANCE S H E E T TABEL 10 a
... .  nir 30 3.1981 000 U KL•jr\r^r  taking .  at _ _ _ _ _ _ _
AS
SETS 198  0 1979LIABILITIES 198  0 1979
long-term assets
Fi xed Assets (Net) 23958 Capital and reserves
10 Land and fixed -~stailations
11 Transport stock and equipment 
IL* Othe- stock and equipment
13 F'xed assets jr-oer construction13 363 
7 66700 Capital
01 Reserves 5130
440 5570100 
3 615
-1 067 02 Contribution to investment costs
03 Provisions
04 Funds for staff18298 18 306
Other fixed assets05 Long-term financial debts 100 -
14 Shareholdings in cthe i-dertakings —- debentures - -
15 Long-term loans —- State loans - -
16 Cost of floating loans and loan redemption 
premiums - -- other financial debts 100 100
17 Miscellaneous fixed assets- "
Sub-total 23958 22 097
ssssssssssss:Sub-total 23
33 333968 22 121
133333S83XS8XS
CURRENT ASSETS
Stocks
2C - -1 (In store cr being manufactured) 450 393
Reali zable assets 2154
30 Debtors 2 154 2 514
41 Loans repayable within
one year
42 Bills receivable “ —Current liabilities
45 Securities -‘31 Creditors 1755 1 790
Bank balances and cash40 Financial debts of less than one-year 
term-
43-46-47-48 Cheques in hand, postal cheque accounts, 
bank accounts, cash in hand(1144) C1 084) 44 Bills payable - -
Sub-total 1460 1 823Sub-total 1755 1 790
Results
06.1 Losses for previous financial years
07.1 Loss for the finançai year 3143143S33S3Z33SS3S
Results
06.0 Profits for previous financial years
07.0 Profit for the financial year99
4
5
Assets :  Total
; ,1 =732ssssss:23 92033333333333*3Liabilities :  Total __2573
2333333323 920:ss3:ssssssss:

- 73 -
PROFIT AND LOSS ACCOUNT TABEL 10 P
I. GENERAL OPERATION
Undertaking :  NIR000 UKL1.1930/ 
Year :31.3.19S1
EXPENSES1.4.1980/ 1.4.1079
.VlvrtOREVENUE 1.4.1980 31.3.19811.4.1979/
31.3.1980
60. Staff costs
61. Material supplied and services performed 
by third parties
62. Taxes and dues
63. Allocations for depreciation
64. Allocations to provision accounts
65. Financial charges5 096 
3 211
28 
2 076 
244 259 
2 692
22
628
2470. Traffic revenue
0. Passenger and luggage traffic
a) by rai l
b) by road
c) by other means of transport
1. Goods traffic
a) by rail
i) full trains and wagon loads
- national traffic
- international traffic 
ii) part loads and parcels
- national traffic
- international traffic
b) by road
c) other means of transport
2. Postal traffic
Sub-total
71. Financial revenue
72. Other revenue
73. Contra of costs booked to other 
accounts
74. Compensations and aids received under
0. Regulation (EEC) N° 1191/69
1. Regulation (EEC) N° 1192/69
2. Regulation (EEC) N° 1107/70/ Article 3
3. Other compensations and aids
Sub-totaL666
666
75.'
735
273 472
3 472
1 428
1 428
4 919
13
2 011
2 965
90
437
3 4922 818
599
748
25
!
17 I
4 207 (1
5
535 
2 431
53 ;
394 I  
2 378
Total expenses10 435 7 625 Total revenue 10 435 7 625
91.0 Operating profit for the financial year- - 91.1 Operating loss for the financial /ear
II. PROFIT AND LOSS SUMMARY
91.1 Operating loss for the financial year 
91.3.Exceptional losses 
91.4 Corporation tax
91.6 Profit for the financial year314 C5)
591.0 Operating profit for the financial year 
91.2 Exceptional profits
91.5 Balancing subsidy
- Regulation (EEC) N° 1107/70, Article 4
- Other
91.7 Loss for the financial year314-

- 74 "
NIR - ANNUAL ACCOUNTS CLOSED ON 29 MARCH 1981
Explanatory Notes
Figures are given in thousands of UKL
1. Basis of Accounting
Accounts are prepared on the historical cost basis of accounting, 
whereby items are recorded at their values on the dates when they were 
acquired or revalued, the liabilities were incurred or the capital obtained.
2. Fixed Assets
Fixed assets transferred to the Company on the 1st April 1968 are 
included as valued on 29 March 1970 and other assets at cost.
3. Depreciation
Depreciation is not charged on expenditure on assets not yet in use.
With the exception of signalling, bridges and permanent way, 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 which it is incurred.
Depreciation is charged against reserves (account 64) in respect of 
all assets others than two items of plant and machinery on which depreciation 
is charged to profit and loss account 63.
4. Stocks
The basis of valuation is the lower of average cost or estimated reali­
zable value. The stocks include engineering materials and stores of fuel and 
oi l.
5. Account 91,3 - Exceptional losses
The exceptional losses in the period refer to a change of accounting 
policy relating to the treatment of interest on claims and counter claims on the 
construction of the Belfast Central Railway project. In prior years, interest 
charges amounting to £ 219 000 were included in debitors but they are now beinq 
written off in the period in which they were incurred. The interest charge 
1980 was £ 95 000.

75 -
Account 64 - Allocation to provision account
Depreciation to reserve account ^42
Fixed assets replacement reserve 534
Account 72 - Other revenue
Surplus on disposal of fixed assets 
Catering 
Other receipts 
On cost2 076
1 542
75
49
345
2  011

- 76 -
ORGANISMOS SIDERODROMON ELLADOS (O.S.E.)

BALANCE S H E E TTABEL 11 a
Undertaking :  OSE at 31.12.80 mio ORA
ASSETS 19  8  0 1979 LIABILITIES 19  8  0 1979
LONG-TERM ASSETS
F ixed Assets (Net) 28 393 Capital and reserves
'0 Land and fixed insta l - „ a  tons 22 887 21 696 00 Capital 29 326 29 326
11 Transport stock and equipment 4 693 4 656 01 Reserves29 326
12 Other stock and equipment 489 495 02 Contribution to investment costs4 703 3 663j
13 Fixed assets under construction 324 123 03 Provisions11 9!
Other fixed assets
'4 Shareholdings in other undertakings 
*5 Long-term loans
16 Cost of floating loans and i.oan redemption 
premiums4 404 Funds for staff
05 Long-term financial debts
- debentures
- State loans
- other financial debts22 
3 573 3 527Ij
I
■*7 Miscellaneous fixed assets 909913618 3 595!1
Sub-total 29 306 27 592 Sub-total 37 635 36 525
CURRENT ASSETS
Stocks
20 - 21 (In store or being manufactured) 2 272 2 167
Realizable assets 8 244
30 Debtors 8 223 6 986
41 Loans repayable within
one year
42 Bi Us receivableCurrent Liabilities
45 Securities 21 2131 Creditors 2 909 1 743
Bank balances and cash
43-46-47-48 Cheques in hand, postal cheque accounts, 
bank accounts, cash in hand 72?___1 502___40
 Financial debts of less than one-year 
term
44 Bills payable
Sub-total 11 238 10 676 Sub-total2 909 1 743
ResultsResults: a
06.1 Losses for previous financial years06.0 Profits for previous financial years
07.1 Loss for the financial year07.0 Profit for the financial year
Assets :  Total 40 544 38 268Liabilities :  Total
=40 544 38 268
i

• ’S -
PROFIT ANO LOSS ACCOUNTT  A BEL 11 b
I. SENERAL OPERATION
Undertaking :  0 SE m io DRA
EXPENSES 1980 1979 REVENUE1 9  8  0 1979
60. Staff -osts
61. Material supplied and services performed 
by third parties
62. Taxes and dues
63. Allocations for depreciation
64. Allocations to provision accounts
65. Financial charges5 412 
2 038 
45 
470
2414 593 
1 663
35
470
23470. Traffic revenue
I 0. Passenger and luggage traffic 
j a) by rail 
b) by road
j  c) by other means of transport
1. Goods traffic
a) by rail
i) full trains and wagon loads
- national traffic
- international traffic 
ii) part loads and parcels
!  - national traffic
- international traffic
b) by road
c ) other means of transport
2. Postal traffic
Sub-total
71. Financial revenue
72. Other revenue
73. Contra of costs booked to other 
accounts
74. Compensations and s received under
0. Regulation (EEC) N° 1191/69
1. Regulation (EEC) N° 1192/69
2. Regulation (EEC) N° 1107/70, Article 3
3. Other compensations and aids
Sub-total1 859
1 083 
776
111
95
161 818
1 331 
487
1 970
1 970
20 
3 808 
177 
268
255
235 
1 140 
4701 126 
448
810
874
15 
3 273 
197 
261
275
174
943
470
1 845 1 587
Total expenses 8 206 6 695 Total revenue6 353 5 593
91.0 Operating profit for the financial year 91.1 Operating loss for the financial year1 853 1 402 j
II- PROFIT AND LOSS SUHWARY
91.1 f .•••»rating loss for the financial year 
91-3.:xceptional losses 
91.4 Corporation tax1 853 1 40291.0 Operating profit for the financial year 
91.2 Exceptional profits
91.5 Balancing subsidy
- Regulation (EEC) N° 1107/70, Article 4
- Other1 853
1 853 1 402
91.6 Profit for the financi^ year - - j 91.7 Loss for the financial year- -

- 79 -
OSE - FINANCIAL YEAR 1980
Explanatory Notes
Figures are given in millions drachmas.
I. BALANCE SHEET
The depreciation on the initial assets is calculated on the basis of the 
replacement cost. For assets bought since 1971 the depreciation is calculated on 
the basis of the aquisition value or construction value.
Account 10 - 12 - Fixed Assets
Description Gross Value Accumulated depreciationi, i Net Value j|
10. Land and fixed 
installations 24 453 1 656 22 887
11. Transport stock and 
equipment 6 658 1 9652 493
12. Other stock and 
equipment 730 241 489
31 931 3 862 28 069
Account 13 - Fixed assets under construction 
This account is composed of :
Work on the infrastructure of lines 139
Work on the superstructure of lines 3
Constructive works 72
Construction of 75 busses (purchase) 110
324
Account 17 - Miscellaneous fixed assets 
This account is composed of :
Differences in foreign exchange rate to be distributed 669 
Cost of studies to be distributed 239
908

-80 -
Account 30 - Debi tors
This account is composed of
Suppliers 671
Customers 82
Staff 72
State 4 268
_ Repayment not paid 3 341
- Lack of financing 928
Shareholders - State capital not paid 1 122
Other debitors 1 401
Suspense and prepayment accounts 607
.  PROFIT AND LOSS ACCOUNT
Account 60 - Staff cost8 223
Account 31 - Creditors
This account is composed of :
Suppliers 574
Other creditors 1 542
Suspense and prepayment accounts 793
2 909
Remuneration 4 558 
Social charges pensioners 352 
Other social charges 502
5 412
Account 61 - Material supplied and services performed by third parties
Energy consumption 666
Consumption of materials 435
Services performed by third parties 192
Rental 675
Miscellaneous charges 70
2 038

8 1  -
Account 62 - Taxes and dues
This account is composed of:
Payroll tax 28
Local taxes 6
Various taxes and dues 11
45
Account 63 - Allocation for depreciation
This account is composed of :
Land and fixed installations 203
Transport stock 214
Other materials 41
Expenditures on redeemable studies 12
470
Account 70 - Traffic revenue
Goods traffic is not broken down between train and road.
Account 71 - Financial revenue 
This account comprises :
Revenue from shares 0
Interest on account on term 175
Securities 2
177
Account 72 - Other revenue
This account comprises :
Hiring of vehicles 113
Rent 23
Work and supplies for third parties 63
Miscellaneous revenue 69
2 6 8

-  8 2  -
Account 73 - Contra of cost
Production of fixed assets by the OSE 255
of which - staff 227
- materials 28
Account 74 - Compensation and aid
The payments of compensations and aids are based upon decree 1300/72 
which correspond to the EEC regulations as follows :
74.1 Regulation (EEC) No. 1192/69
Operation and maintenance of crossings 235
74.2 Regulation (EEC) No. 1107/70
Infrastructures charges 1 HO
74.3 Other compensations and aids
Depreciation charges 470
Account 91.5 - Balancing subsidy
These payments are based upon decree's 674/7 and 1300/72 and correspond 
to the regulation (EEC) No. 1107/70, art. 4.
Balancing subsidy 1 853

SUHHARY OF THE TRANSPOSED BALANCE SHEETS 
(1980)
(in mio, national currency)
SNCB DSB DB SNCF1---------- -
CI
E FSC1) CFL NS BRB NIRC2) OSE
ASSETS
Long-term assets 95 655 8 602 53 318 68 717 7 208 3 429 5 137 1  325.6 23 958 29 306
- Fi xed assets 81 513 8 592 50 473 65 380 6 839 3 377 3 668 1 317.5 23 958 23 393
— Other fixed assflrss K  142 10 2 845 3 337 369 52 1 46V 8.1 “ 9i:
Current assets 26 729 1 045 4 464 14 498 3 691 1 926 684 420.7 1 460 11 238
- Stocks 8 845 526 1 078 2 720 978 581 201 198.6 450 2 272
- Realizable assets 17 268 482 2 256 11 230 1 445 1 331 416 213.0 2 154 8 2a< *
- Bank balance ant* cash 616 37 1 130 548 1 268 14 67 9.1 (1 144) 72?
Cumulative results: 
(Losses)5 020 - 7 181 5 396 9 991 127 29 76.9 314 -
Total 127 404 9 647 64 963 88 626 20 890 5 482 5 850 1  823.2 25 732 40 54a
LIABILITIES
Capital and resen*« 56 205 8 925 29 006 42 907 5 292 2 921 3 317 603.6 23 868 34 040
Long-term debts 46 958 - 32 616 26 021 12 134 1 207 1 927 62r .3 100'  oc
Current liabi I  itie* 24 241 722 3 341 19 683 3 464 1 354 606 557.2 1 755 2 90y
Cumulative result* 
crtoftts)'* - 41.6 9 —
Total 127 404 9 647 64 963 88 611 20 890 5 482 5 850 1 823.2 25 732 40 544
(1) in mrd tlT
(2) in 000 UKL

ANNEXE I I
SUMMARY OF THE PROFIT AND LOSS ACCOUNT (1980) (;n mio naH.n»vin mi o , national currency
NUE
fie revenue
ssenger
ods
stal
ncial revenue 
r revenue 
re of costs 
ensation and aids 
gulation 1191/69 
■gulation 1192/69 
gulation 1107/70, art. 
hers
gulation 1107/70, art. 
aordinary items 
of the year
Total
iNSES 
‘f costs
trial + third parties ts
■eciation and provisions 
ancial charges 
■aordinary ite* 
fit of the year
TotalSNCB
24208 ?557
8878 15S4
14854 894
476 79
337 6
10786 384
13223 -
44759 1364
20573 1123
14412 13
9774 228
463
484
94 260
56 222 
25 458 
24 
8 190 
4 283 
83
94 2604 311
2 486 
1 281
207
367
4 31114 957
4 871 
9 684 
402 178 
1  723 
4 645 
8 839
3 287
4 496
69
987
16 
3 605
33 963
19 841 
9 754 
92
833
394
49
33 963SNCF
26 003 
10 579 
14 971 
453 
560 
2 420 
1 897 
13 127 
4 315
450
123
639
600
460
674
46 141
26 405 
12 623 
660 
3 381 
2 652 
423
46 141CIE FS (1)
1 485 
880 
601
4
35
173
642
2 377 
1 278
369
730 
83 
1 469
6 264
3 484 
1 672 
108 
541
4581
6 264CFL
1 816 
244
1 572
62
108
4 181 
1 699 
1 389 
1 093
26
215
408
5 025 
547 
53 
622 
165 
6
6 408205
859
321
25
106
72
247
963
808
45
110
29
2 622
1 482 
618 
5
374
143
2 6221 847.4 
1 141.6
856.4 
49.4
4.8
176.8
290.7
652.3
633.5 
15.2
3.5
76.9
3 048.9
617.7
228.7
0.2
131.0
71.3
3 048.9NIR(2)
4 919 
3 472 
1 482
13
011
492
965
90
437
10 749
5 096 
3 211
2 104 
24 
314
10 749OSE
3 808 
1 818 
1 970 
20 
177 
268 
255 
3 698 
235 
1 140 
470
1 853
8 206
5 412 
2 038 
45 
470 
241
8 206
m rd L IT
0 0 0  UKL

ANNEXE III
SCHEMA FOR THE PRESENTATION OF STAFF AND STAFF EXPENDITURES
1. Staff expenditures
Wages and salaries ....
Pe
nsions ....
So
cial charges ....
To
tal ....
2.
 Staff and staff expenditures Expenses Numbers
General administration .... ....
Op
eration and traffic .... ....
Ro
lling stock and machine power .... ....
Wa
ys and works .... ....
Ot
hers .... ....
To
tal .... ....

ANNEXE IV
SCHEMA FOR THE PRESENTATION OF MOVEMENTS IN FIXED ASSETS
Account Nr. 10 11 1 2 13 Total
Value first of year .. .. .. ·· ···
+ purchases and additions .. .. .. ·■·
-  d ..posals ·· ·  ·  ·· ■· »··
- depreciation .. .. .. .. ···
Value end of year .. .. .. ·. ··■

ANNEXE V
MODEL SCHEMA OF SOURCE AND APPLICATION OF FUNDS
SOURCE OF FUNDS
Increase in equity of shareholders 
Other increases from shareholders 
Funds for staff 
Long-term financial debts
- debentures
- state loans
- other
Internatty generated 
Sale of scrap assets 
Prof it/(Loss)
Adjustment for items not involving the movement of funds 
Depreciation and amortisation
APPICATION OF FUNDS
Decrease in equity of shareholders 
Repayments of long-term financial debts 
Purchase of assets
- f i  >'-d 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 
Other