Pages 29 to 46 are the reason the Codex Borgia is known outside specialist circles. They are painted at right angles to everything around them, so the book must be turned ninety degrees to read them, and instead of almanac grids they run as a continuous sequence of dense, dark scenes: a black figure descending, skeletal deities, fire drilling, decapitation, streams of blood and water, a series of temple enclosures entered and left.
No agreed reading exists. Eduard Seler, writing around 1900, took the sequence as an astronomical narrative, the journey of Venus through the underworld and its reappearance. Karl Anton Nowotny, in the 1960s, argued the opposite: not sky but ground, a record of ceremonies actually performed in real temple precincts, the codex functioning as a liturgical script. Later readings have proposed a cosmogony, the creation and ordering of the world; a New Fire sequence; and a priestly initiation or visionary ordeal undergone by the reader himself.
The disagreement is not for lack of study. It is that the sequence supplies images without a text to anchor them, and Mesoamerican religious imagery is layered by design: a scene can be an astronomical event, a rite and a myth at once, because the culture did not hold those apart as separate categories. Every proposed reading fits some panels well and others badly, and none has displaced the rest.
What can be said plainly is that the section is unique. Nothing else in the surviving corpus of Mexican religious manuscripts runs like it, and any account of pre-conquest cosmology that leans on these pages is leaning on material whose meaning is genuinely undetermined rather than merely obscure.