Sounds like you might have a partially or maybe mostly blocked/clogged radiator.
You might want to try flushing out the radiator from both in & out hoses on the radiator to try and blow out any crud that's in there. As it's most likely to be clogged in the inlet side of things run pressurized water from the radiator outlet so that it's pushing water backwards through the radiator to blow the crud out of the inlet. Then try it on the inlet to blow out the outlet. Do that a few times and you should get out as much as is going to be possible.
If that doesn't work you'll probably need a new radiator.
Cosmos Black/Black 1995 540iA M-Sport
BMW Individual Exclusive Edition, 1 of 65 total, 9/25/95 Build