Trade and Other Receivables (Tables)

12 Months Ended

Dec. 31, 2025


		Millions of Euros
	Reference	31/12/2025	31/12/2024

Current contract assets		83	36
Trade receivables		619	687
Receivables from associates	Note 31	55	39
Impairment losses		(23)	(21)
Trade receivables		651	705
Other receivables	Note 30 (c)	13	11
Personnel		1	1
Advance payments	Note 30 (c)	7	6
Taxation authorities, VAT recoverable		55	54
Other public entities		25	6
Other receivables		101	78
Current income tax assets		17	53
Total current contract assets, trade and other receivables		852	872

Schedule of trade receivables net of the bad debt provision by seniority

The following represent the carrying amount of the trade and other receivables and contractual assets categorized by due date as of 31 December 2025 is as follows:


		Millions of Euros
				Total gross carrying				Total net third party
		ECL Rate		amount		Provision		trade receivables
Not matured		0.19	%	522		(1)		521
Past due 0-30 days		0.19	%	142		—		142
Past due 31-60 days		0.62	%	25		—		25
Past due 61-90 days		2.03	%	9		—		9
Past due 91-180 days		3.01	%	19		(1)		18
Past due 181-365 days		8.52	%	12		(1)		11
More than one year		100	%	21		(13)		8
Customers with objective evidence of impairment				7		(7)		—
				757		(23)		734

The following represent the carrying amount of the trade and other receivables and contractual assets categorized by due date as of 31 December 2024 is as follows:


	Millions of Euros
			Total gross carrying		Total net third party
	ECL Rate		amount	Provision	trade receivables
Not matured	0.19	%	622	(1)	621
Past due 0-30 days	0.19	%	19	(1)	18
Past due 31-60 days	0.62	%	24	—	24
Past due 61-90 days	2.03	%	17	—	17
Past due 91-180 days	3.01	%	36	(1)	35
Past due 181-365 days	8.52	%	16	(1)	15
More than one year	100	%	17	(6)	11

Customers with objective evidence of impairment			11	(11)	—
			762	(21)	741

Schedule of movement in the bad debt provision


		Millions of Euros
		31/12/2025	31/12/2024	31/12/2023
Opening balance		21	32	32
Net charges for the year		8	5	7
Net cancellations for the year		(5)	(17)	(7)
Transfers		—	—	—
Translation differences		(1)	1	—
Closing balance		23	21	32

- Definition

The disclosure of the reconciliation of changes in the loss allowance and explanation of changes in the gross carrying amount for financial instruments. Loss allowance is the allowance for expected credit losses on financial assets measured in accordance with paragraph 4.1.2 of IFRS 9, lease receivables and contract assets, the accumulated impairment amount for financial assets measured in accordance with paragraph 4.1.2A of IFRS 9 and the provision for expected credit losses on loan commitments and financial guarantee contracts. [Refer: Gross carrying amount [member]]

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