v3.25.4
Statement of financial position, order of liquidity (Statement) - EUR (€)
€ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Assets [Line Items]      
Cash and cash equivalents € 58,837 € 51,145 € 75,416
Current financial assets at fair value through profit or loss, classified as held for trading 123,185 108,948 141,042
Derivative financial assets held for trading 32,551 36,003 34,293
Equity instruments held at fair value through profit or loss, classified as held for trading 9,901 6,760 4,589
Debt instruments held for trading 30,846 27,955 28,569
Loans and advances to central banks held for trading 620 556 2,809
Loans and advances to credit institutions held for trading 17,985 20,938 56,599
loans and advances to customers held for trading 31,282 16,736 14,182
Financial assets at fair value through profit or loss, mandatorily measured at fair value 11,272 10,546 8,737
Equity instruments held at fair value through profit or loss, mandatorily measured at fair value, other than those classified as held for trading 10,539 9,782 7,963
Debt instruments held at fair value through profit or loss, mandatorily measured at fair value, other than those classified as held for trading 192 407 484
Loans and advances at fair value through profit or loss, mandatorily measured at fair value, other than those classified as held for trading 541 358 290
Financial assets at fair value through profit or loss, designated upon initial recognition or subsequently 1,006 836 955
Debt securities at fair value through profit or loss 1,006 836 955
Financial assets at fair value through other comprehensive income [1] 58,809 59,002 62,205
Investments in equity instruments designated at fair value through other comprehensive income 1,360 1,451 1,217
Debt securities at fair value through other comprehensive income 57,001 57,526 60,963
Loans and advances measured at fair value through other comprehensive income 448 25 26
Financial assets at amortised cost 568,893 502,400 451,732
Debt instruments held at amortised cost 73,379 59,014 49,462
Loans and advances to central banks at amortised cost 10,869 8,255 7,151
Loans and advances to banks 24,244 22,655 17,477
Loans and advances to customers 460,401 412,477 377,643
Derivative financial assets held for hedging 570 1,158 1,482
Accumulated fair value hedge adjustment on hedged item included in carrying amount, assets (87) (65) (97)
Investments in subsidiaries, joint ventures and associates 994 989 976
Investments in joint ventures 111 94 93
Investments in associates 883 895 883
AssetsCoveredByInsuranceContractsAndReinsuranceContracts 198 191 211
Tangible assets 9,482 9,759 9,253
Property, plant and equipment 9,247 9,506 9,046
Property plant and equipment for own use 8,367 8,501 8,295
Assets leased out under an operating lease 879 1,004 751
Investment property 235 253 207
Intangible assets and goodwill 2,856 2,490 2,363
Goodwill 715 700 795
Intangible assets other than goodwill 2,140 1,790 1,568
Tax assets 17,867 18,650 17,501
Current tax assets [2] 3,998 4,295 2,860
Deferred tax assets 13,869 14,354 14,641
Other assets 4,985 5,525 2,859
Insurance contracts linked to pensions 0 0 0
Inventories [3] 1,307 1,299 276
Rest other assets 3,678 4,226 2,583
Non-current assets or disposal groups classified as held for sale 709 828 923
Assets 859,576 772,402 [4] 775,558 [4]
Equity and Liabilities [Line Items]      
Financial liabilities at fair value through profit or loss that meet definition of held for trading 91,917 86,591 121,715
Derivative financial liabilities held for trading 30,345 33,059 33,045
Short positions held for trading 13,100 13,878 15,735
Deposits from central banks held for trading 3,653 3,360 6,397
Deposits from credit institutions held for trading 18,138 16,285 43,337
Customer deposits held for trading 26,681 20,010 23,201
Financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently 18,417 14,952 13,299
Deposits from central banks at fair value through profit or loss, designated upon initial recognition or subsequently 0 0 0
Deposits from banks at fair value through profit or loss, designated upon initial recognition or subsequently 0 0 0
Customer deposits designated at fair value through profit or loss, designated upon initial recognition or subsequently 897 934 717
Debt securities at fair value through profit or loss 5,997 4,597 3,977
Other Financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently 11,524 9,420 8,605
Memorandum Item subordinated liabilities at fair value through profit or loss, designated upon initial recognition or subsequently 0 0 0
Financial liabilities at amortised cost 658,599 584,339 557,589
Liabilities due to central banks 17,226 14,668 20,309
Deposits from banks 36,771 34,406 40,039
Deposits from customers 502,501 447,646 413,487
Debt instruments issued at amortised cost 81,842 69,867 68,707
Other financial liabilities 20,258 17,753 15,046
Memorandum item subordinated liabilities at amortised cost 21,053 19,612 15,867
Derivative financial liabilities held for hedging 1,933 2,503 2,625
Accumulated fair value hedge adjustment on hedged item included in carrying amount, liabilities 0 0 0
Liabilities covered by insurance and reinsurance contracts 12,760 10,981 12,110
Provisions 4,422 4,619 4,924
Provisions for employee benefits [5] 2,267 2,348 2,571
Other long term employees benefits 332 384 435
Legal proceedings provision 805 791 696
Provisions commitments and guarantees given 725 667 770
Other provisions [6] 293 429 452
Tax liabilities 4,020 3,033 2,554
Current tax liabilities [2] 1,480 575 878
Deferred tax liabilities 2,540 2,458 1,677
Other liabilities 5,709 5,370 5,477
Liabilities included in disposal groups classified as held for sale 0 0 0
Liabilities 797,778 712,388 720,293
Shareholders equity 76,228 72,875 67,955
Issued capital 2,797 2,824 2,861
Paid up capital 2,797 2,824 2,861
Unpaid capital which has been called up 0 0 0
Share premium 18,469 19,184 19,769
Equity instruments issued other than capital 0 0 0
Other equity interest 40 40 40
Retained earnings 46,346 40,693 36,237
Revaluation surplus 0 0 0
Other reserves 203 1,814 2,015
Reserves or accumulated losses of investments in subsidaries joint ventures and associates (228) (227) (237)
Other reserves other 431 2,041 2,252
Treasury shares (299) (66) (34)
Profits or losses attributable to owners of the parent 10,511 10,054 8,019
Interim dividends (1,840) (1,668) (951)
Accumulated other comprehensive income (18,871) (17,220) (16,254)
Items that will not be reclassified to profit or loss (2,505) (1,988) (2,105)
Actuarial gains or losses on defined benefit pension plans that will not be reclassified to profit or loss (1,396) (1,067) (1,049)
Non current assets and disposal groups classified as held for sale that will not be reclassified to profit or loss 0 0 0
Share of other recognized income and expense of investments in joint ventures and associates that will not be reclassified to profit or loss 0 0 0
Fair value changes of equity instruments measured at fair value through other comprehensive income that will not be reclassified to profit or loss (983) (905) (1,112)
Hedge ineffectiveness of fair value hedges for equity instruments measured at fair value through other comprehensive income 0 0 0
Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk (127) (17) 55
Other comprehensive income that will be reclassified to profit or loss, net of tax (16,366) (15,232) (14,148)
Foreign currency translation (3,117) (2,329) (2,498)
Foreign currency translation (13,340) (12,702) (11,419)
Hedging derivatives. Cash flow hedges effective portion 311 370 133
Fair value changes of debt instruments measured at fair value through other comprehensive income that may be reclassified to profit or loss (209) (576) (357)
Hedging instruments non-designated items that may be reclassified to profit or loss (4) 0 0
Non-current assets and disposal groups classified as held for sale may be reclassified 0 0 0
Share of other recognized income and expense of investments in joint ventures and associates that may be reclassified to profit or loss (7) 5 (8)
Non-controlling interests 4,441 4,359 3,564
Accumulated other comprehensive income non controlling interest (3,059) (2,730) (3,321)
Other non controlling interest items 7,500 7,089 6,885
Adjusted initial balance 61,798 60,014 55,265
Equity and liabilities € 859,576 € 772,402 € 775,558
[1]
(1) During financial years 2025, 2024 and 2023, there have been no significant reclassifications from the heading “Financial assets at fair value through other comprehensive income” to other headings or from other headings to “Financial assets at fair value through other comprehensive income”.
[2]
(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.
[3]
(1) The variation in 2024 corresponded mainly to the acquisition of land plots from the Group's real estate company Crea Madrid Nuevo Norte, S.A. in relation to an urban planning operation in the city of Madrid.
[4]
(1) In the first quarter of 2025 certain immaterial balance sheet amounts related to specific activities undertaken by the business units were reallocated between the operating segments and the Corporate Center. As a result, certain expenses were reallocated, in particular, between Spain, Rest of Business and the Corporate Center. In order to make the period-on-period comparison homogeneous, the figures for the years 2024 and 2023 have been revised, which has not affected the consolidated financial information of the Group.
[5]
(3) Recorded under the heading “Provisions - Provisions for pensions and similar obligations” of the consolidated balance sheet.
[6]
(2) Individually non-significant provisions for various concepts and corresponding to different geographical areas.