English Translation

The operating account closed with a loss of 365,798,126,75 K. Profit and loss account. The operation of the company BMB (including the profits or losses of auxiliary and ancillary enterprises) is shown by the amount of 365,798.126.75 K, the cost of interest on investment debts with the amount K 131.989,236.10. Profits are offset by these borrowings from interest and price gains combined K 2,831.919.15. The balance sheet for 1939 is the first annual balance sheet of the company BMB. The company's fixed assets, which are included in the opening balance sheet as at 1. The amount of K 20.025.482,385,31 was calculated on 1 January 1939 and has access to K 173.641.367,39, which amounts to K 20.199.123,752,70. Compared to this amount, which represents the new value of the investments, the depreciation of the components of the assets is used on the side of the liabilities until 31 December 1939 with the amount ofK 7.243,637,583,98. The difference between the two values given shows the balance sheet value of the plants as at 31 December 1939. Participations in foreign enterprises did not change. The value of stocks of materials and equipment decreased by K 121,736,785,90 compared with the value at the beginning of the year. Of the operating assets, cash stocks are K 98,793,735,10, balances with money institutions 4,307,539.70 K, receivables from the settlement of traffic income with foreign railways 100,436,245,55 K, other short-term assets K 184,605.427,23. The transitional assets intended to delineate the economic result are K 99,757,591,90. The outstanding items are non-residents of the company's cash registers. They amount to 24,082,320,08 K and are shown on both sides of the balance sheet in the same manner. The equity of the enterprise is the difference between the assets and liabilities; it amounts to 9,810,015,507,50 K. Of the bonds for the total amount of 3,296,284,369,40 K, mortgage loans from the nationalised local railways account for 114,684,953,40 K. for the provisional flat-rate contribution of the financial management of the Protectorate from 9