(8)Leases Details of changes in leases for the year ended 31 December 2025 and 2024 are as follows. | | | | | | | | | | | | | Millions of Euros | | | Land and Buildings | | Machinery | | Computer equipment | | Vehicles | | Total | Cost | | | | | | | | | | | Balance at 31/12/2023 | | 1,216 | | 8 | | 4 | | 22 | | 1,250 | Additions | | 72 | | 1 | | 1 | | 6 | | 80 | Transfers | | 1 | | — | | — | | — | | 1 | Disposals | | (21) | | — | | (1) | | (3) | | (25) | Translation differences | | 57 | | — | | — | | — | | 57 | Balance at 31/12/2024 | | 1,325 | | 9 | | 4 | | 25 | | 1,363 | | | | | | | | | | | | Acc. Amortization | | | | | | | | | | | Balance at 31/12/2023 | | (283) | | (4) | | (3) | | (15) | | (305) | Additions | | (75) | | (2) | | (1) | | (5) | | (83) | Transfers | | (1) | | — | | — | | — | | (1) | Disposals | | 5 | | — | | 1 | | 2 | | 8 | Translation differences | | (14) | | — | | — | | — | | (14) | Balance at 31/12/2024 | | (368) | | (6) | | (3) | | (18) | | (395) | | | | | | | | | | | | Carrying amount | | | | | | | | | | | Balance at 31/12/2024 | | 957 | | 3 | | 1 | | 7 | | 968 | | | | | | | | | | | | Cost | | | | | | | | | | | Balance at 31/12/2024 | | 1,325 | | 9 | | 4 | | 25 | | 1,363 | Additions | | 129 | | 2 | | 3 | | 9 | | 143 | Transfers | | (9) | | — | | — | | — | | (9) | Disposals | | (19) | | (3) | | (3) | | (16) | | (41) | Translation differences | | (124) | | (1) | | — | | (1) | | (126) | Balance at 31/12/2025 | | 1,302 | | 7 | | 4 | | 17 | | 1,330 | | | | | | | | | | | | Acc. Amortization | | | | | | | | | | | Balance at 31/12/2024 | | (368) | | (6) | | (3) | | (18) | | (395) | Additions | | (74) | | (2) | | (1) | | (5) | | (82) | Transfers | | 9 | | — | | — | | — | | 9 | Disposals | | 15 | | 3 | | 3 | | 16 | | 37 | Translation differences | | 33 | | — | | — | | — | | 33 | Balance at 31/12/2025 | | (385) | | (5) | | (1) | | (7) | | (398) | | | | | | | | | | | | Carrying amount | | | | | | | | | | | Balance at 31/12/2025 | | 917 | | 2 | | 3 | | 10 | | 932 |
Details of leases in the consolidated balance sheet at 31 December 2025 and 2024 are as follows: | | | | | | | Millions of Euros | Right-of-use assets | | 31/12/2025 | | 31/12/2024 | Land and buildings | | 917 | | 957 | Machinery | | 2 | | 3 | Computer equipment | | 3 | | 1 | Vehicles | | 10 | | 7 | | | 932 | | 968 |
| | | | | | | | | | | Millions of Euros | Lease liabilities | | Reference | | 31/12/2025 | | 31/12/2024 | Non-current | | Note 19 | | 969 | | 1,025 | Current | | Note 19 | | 113 | | 117 | | | | | 1,082 | | 1,142 |
The composition of lease liabilities as of 31 December 2025 and 2024 is shown below. Undiscounted future payments classified on a maturity basis are presented together with the effect of the financial discount: | | | | | | | Millions of Euros | | | 31/12/2025 | | 31/12/2024 | Maturity: | | | | | Within one year | | 113 | | 117 | In the second year | | 108 | | 117 | In the third to fifth years | | 296 | | 319 | After the fifth year | | 1,196 | | 1,221 | | | 1,713 | | 1,774 | Discounting effect | | (631) | | (632) | Total lease liabilities | | 1,082 | | 1,142 |
At 31 December 2025, the Group has recognized an amount of Euros 143 million related to additions of right-of- use assets (Euros 80 million at 31 December 2024). At 31 December 2025 and 2024, the amounts recognized in the consolidated statement of profit and loss related to lease agreements are: | | | | | | | Millions of Euros | Right-of-use depreciation | | 31/12/2025 | | 31/12/2024 | Buildings | | 74 | | 75 | Machinery | | 2 | | 2 | Computer equipment | | 1 | | 1 | Vehicles | | 5 | | 5 | | | 82 | | 83 |
| | | | | | | | | | | Millions of Euros | | | Reference | | 31/12/2025 | | 31/12/2024 | Finance lease expenses | | Note 25 | | 57 | | 51 | | | | | 57 | | 51 |
| | | | | | | Millions of Euros | | | 31/12/2025 | | 31/12/2024 | Expenses related to short-term contracts | | 1 | | 1 | Expenses related to low-value contracts | | 15 | | 16 | Other operating lease expenses | | 30 | | 30 | | | 46 | | 47 |
At 31 December 2025, the Group has paid a total of Euros 119 million related to lease contracts (Euros 111 million at 31 December 2024). The total amount recognized in the consolidated balance sheet corresponds to lease contracts in which the Group is the lessee.
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