v3.25.4
Note 19 Tax assets and liabilities (Details) - EUR (€)
€ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Tax assets and liabilities [Line Items]        
Current tax assets [1] € 3,998 € 4,295 € 2,860  
Deferred tax assets 13,869 14,354 14,641 € 14,747
Tax assets 17,867 18,650 17,501  
Current tax liabilities [1] 1,480 575 878  
Deferred tax liabilities 2,540 2,458 1,677 € 1,520
Tax liabilities 4,020 3,033 2,554  
Pensions [Member]        
Tax assets and liabilities [Line Items]        
Deferred tax assets 619 534 445  
Financial instruments [Member]        
Tax assets and liabilities [Line Items]        
Deferred tax assets 814 1,335 1,069  
Deferred tax liabilities 1,184 915 761  
Loss allowances [Member]        
Tax assets and liabilities [Line Items]        
Deferred tax assets 2,210 2,158 2,127  
Other [Member]        
Tax assets and liabilities [Line Items]        
Deferred tax assets 1,518 1,495 1,467  
Deferred tax liabilities 1,356 1,543 916  
Secured tax assets [Member]        
Tax assets and liabilities [Line Items]        
Deferred tax assets 7,885 7,979 8,534  
Tax losses [Member]        
Tax assets and liabilities [Line Items]        
Deferred tax assets € 823 € 853 € 999  
[1]
(1)The decrease in current tax assets in 2025 compared to 2024 is due, among other things, to a lower Mexican tax receivable related to corporate income tax, as the installment payments made in 2024 were particularly high. The increase in current tax liabilities in 2025 compared to 2024 is mainly due to the Spanish Interest Margin and Commission Tax (IMIC) for the 2025 financial year, as well as the increase in the Mexican tax liability related to the estimated corporate income tax for the 2025 financial year.
On the other hand, the increase in current tax assets in 2024 compared to 2023 corresponds mainly to a higher tax receivable of the tax group in Spain, as well as in Mexico and Colombia, in relation to the Corporate Income Tax for the year 2024 related to the installment payments made in the year. On the other hand, the decrease in current tax liabilities in 2024 compared to 2023, corresponds mainly to the decrease in the tax payable in Mexico and Argentina in relation to the estimated income tax for the year 2023.