Zenith Investment Holding JSC - Sofia

	06.1999
ASSETS	253
A. Unpaid Share Subscriptions
B. Fixed Assets	223
I. Tangible assets	49
1. Buildings, land, forests and perennials
2. Machinery and equipment	13
3. Other tangible assets	36
4. Acquisition of tangible fixed assets
II. Intangible assets	5
1. Start up and expansion costs	5
2. Research and development
3. Software
4. Patents, licenses, concessions, know-how, trade marks
5. Other intangible assets
III. Long-term investment	169
1. Controlling stake
2. Majority stake	74
3. Minority stake	88
4. Investment property
5. Others	7
IV. Long-term receivables
1. Receivables from related companies
2. Receivables on granted trade loans
3. Other long-term receivables
V. Goodwill
C. Current Assets	30
I. Stocks
1. Raw materials
2. Finished products
3. Goods
4. Young animals and animals for fattening
5. Work in progress
6. Other current assets
II. Short-term receivables	25
1. Receivables from related companies, incl. dividends
2. Receivables for sales	3
3. Advances made	2
4. Receivables on granted trade loans	5
5. Legal and award receivables
6. Due taxes
7. Other receivables	14
III. Short-term investments
1. In related companies, incl. shares and bonds
2. Other short-term investments
IV. Funds	2
1. Cash	1
2. Bank accounts	2
3. Frozen funds
V. Deferred expenditures	3
D. Off Balance Sheet Assets	29
LIABILITIES	253
A. Shareholders' Equity	201
I. Capital	124
1. Fixed capital	124
2. Complementary capital
II. Issue bonuses
III. Revaluation reserves
IV. Reserves	140
1. Legal reserves	125
2. Complementary reserves	16
V. Result from previous periods	-4
1. Undistributed profit	12
2. Uncovered loss	-15
VI. Result from the period under report	-59
1. Profit
2. Loss	-59
B. Liabilities	11
I. Long-term debts	11
1. Debts to related companies
2. Debts on received bank loans
3. Debts on received trade loans
4. Deferred taxes
5. Other long-term payables	11
II. Deferred Income
1. Negative Goodwill
2. Other deferred income
C. Short-term liabilities	40
I. Payables	40
1. Payables, connected with participations
2. Payables on received bank loans
3. Payables on received trade loans
4. Payables to deliverers
5. Advance payables
6. Payables to the budget
7. Payables to the staff	3
8. Social security payables
9. Other payables	36
II. Deferred Income
D. Financing
1. For fixed assets
2. For current activites
E. Off Balance Sheet Liabilities	29