v3.26.1
Other financial liabilities
 12 Months Ended
Dec. 31, 2025
Disclosure of financial liabilities [abstract]  
Other financial liabilities Other financial liabilities
The detail of Other financial liabilities in the consolidated balance sheets is as follows:
EUR million
202520242023
Trade payables1,452 1,452 1,783 
Clearing houses794 776 1,269 
Tax collection accounts:
Public Institutions6,271 6,156 4,986 
Factoring accounts payable274 226 272 
Unsettled financial transactions3,860 7,421 6,412 
Lease liabilities (note 2.k)1,822 2,202 2,400 
Other financial liabilities21,645 21,683 23,065 
36,118 39,916 40,187 
Note 51 contains a detail of the residual maturity periods of other financial liabilities at each year-end.
Lease liabilities
The cash outflow of leases in 2025 was EUR 510 million (EUR 684 million and EUR 738 in 2024 and 2023, respectively).
The analysis of the maturities of lease liabilities at 31 December 2025, 2024 and 2023 is shown below:
EUR million
202520242023
Maturity Analysis - Discounted payments
Within 1 year466 526 586 
Between 1 and 3 years619 868 918 
Between 3 and 5 years315 405 480 
Later than 5 years422 403 416 
Total discounted payments at the end of the year1,822 2,202 2,400 
During 2025, 2024 and 2023 there were no significant variable lease payments not included in the valuation of lease liabilities.