v3.26.1
Other disclosures
 12 Months Ended
Dec. 31, 2025
Other Disclosures [Abstract]  
Other disclosures Other disclosures
a) Residual maturity periods
The detail, by maturity, of the balances of certain items in the consolidated balance sheet at 31 December 2025, 2024 and 2023 is presented below:
31 December 2025
EUR million
On demandWithin 3 months3 to 12 months1 to 3 years3 to 5 yearsMore than 5 yearsTotal
Assets
Cash, cash balances at Central Banks and other deposits on demand152,281 152,281 
Financial assets at fair value through other comprehensive income— 12,721 8,593 14,012 8,315 28,690 72,331 
Debt securities— 10,677 7,631 12,139 6,619 21,239 58,305 
Loans and advances— 2,044 962 1,873 1,696 7,451 14,026 
Credits institutions— — 111 3 5 1,001 1,120 
Customers— 2,044 851 1,870 1,691 6,450 12,906 
Financial assets
at amortized cost		40,174 213,109 173,400 208,743 163,374 403,889 1,202,689 
Debt securities— 8,547 9,312 25,469 17,474 79,212 140,014 
Loans and advances40,174 204,562 164,088 183,274 145,900 324,677 1,062,675 
Central banks— 14,782 — — 1,134 70 15,986 
Credits institutions4,577 26,620 10,564 5,594 1,198 12,960 61,513 
Customers35,597 163,160 153,524 177,680 143,568 311,647 985,176 
192,455 225,830 181,993 222,755 171,689 432,579 1,427,301 
Liabilities
Financial liabilities at amortized cost700,717 271,366 147,951 132,783 72,048 96,319 1,421,184 
Deposits688,927 223,636 96,132 37,030 9,216 17,443 1,072,384 
Central banks857 8,550 4,615 2,892 — 1,628 18,542 
Credit institutions6,342 34,993 11,677 12,197 1,845 7,638 74,692 
Customer deposits681,728 180,093 79,840 21,941 7,371 8,177 979,150 
Marketable debt securitiesA
— 38,875 48,971 94,735 62,275 67,848 312,704 
Other financial liabilities11,790 8,855 2,848 1,018 557 11,028 36,096 
700,717 271,366 147,951 132,783 72,048 96,319 1,421,184 
Difference (assets less liabilities)(508,262)(45,536)34,042 89,972 99,641 336,260 6,117 
A.Includes promissory notes, certificates of deposit and other short-term debt issues.
See breakdown by type of debt (subordinated debt, senior unsecured debt, senior secured debt, notes and other securities) (see note 22).
31 December 2024
EUR million
On demandWithin 3 months3 to 12 months1 to 3 years3 to 5 yearsMore than 5 yearsTotal
Assets                        
Cash, cash balances at Central Banks and other deposits on demand192,208 — — — — — 192,208 
Financial assets at fair value through other comprehensive income— 13,401 9,153 23,902 8,905 32,344 87,705 
Debt securities— 11,072 8,449 22,137 7,623 27,277 76,558 
Loans and advances— 2,329 704 1,765 1,282 5,067 11,147 
Credits institutions— 36 — 98 6 223 363 
Customers— 2,293 704 1,667 1,276 4,844 10,784 
Financial assets
at amortized cost		41,652 208,565 167,974 220,871 176,710 387,935 1,203,707 
Debt securities— 9,628 14,041 17,071 22,705 57,504 120,949 
Loans and advances41,652 198,937 153,933 203,800 154,005 330,431 1,082,758 
  Central banks— 15,067 — — — 1,112 16,179 
  Credits institutions6,208 23,550 4,166 5,760 1,843 14,010 55,537 
  Customers35,444 160,320 149,767 198,040 152,162 315,309 1,011,042 
233,860 221,966 177,127 244,773 185,615 420,279 1,483,620 
Liabilities
Financial liabilities
at amortized cost		720,659 256,651 171,362 155,620 89,229 90,801 1,484,322 
Deposits707,418 213,220 121,914 46,431 21,510 15,946 1,126,439 
Central banks17 9,063 11,022 4,772 — 8 24,882 
Credit institutions13,948 27,149 19,300 15,655 6,477 7,483 90,012 
Customer deposits693,453 177,008 91,592 26,004 15,033 8,455 1,011,545 
Marketable debt
securitiesA
— 35,570 47,977 100,451 60,128 73,841 317,967 
Other financial liabilities13,241 7,861 1,471 8,738 7,591 1,014 39,916 
720,659 256,651 171,362 155,620 89,229 90,801 1,484,322 
Difference (assets less liabilities)(486,799)(34,685)5,765 89,153 96,386 329,478 (702)
A.Includes promissory notes, certificates of deposit and other short-term debt issues.
31 December 2023
EUR million
On demandWithin 3 months3 to 12 months1 to 3 years3 to 5 yearsMore than 5 yearsTotal
Assets                            
Cash, cash balances at Central Banks and other deposits on demand220,342 — — — — — 220,342 
Financial assets at fair value through other comprehensive income— 13,544 9,234 19,372 14,162 25,235 81,547 
Debt securities— 13,078 8,433 18,432 12,764 20,858 73,565 
Loans and advances— 466 801 940 1,398 4,377 7,982 
Customers— 466 801 940 1,085 4,377 7,669 
Financial assets
at amortized cost		40,687 202,066 171,494 232,190 158,556 386,410 1,191,403 
Debt securities— 12,281 14,114 18,608 11,281 47,275 103,559 
Loans and advances40,687 189,785 157,380 213,582 147,275 339,135 1,087,844 
Central banks— 18,730 — — — 1,352 20,082 
Credit institutions6,783 26,671 6,313 7,151 1,521 9,478 57,917 
Customers33,904 144,384 151,067 206,431 145,754 328,305 1,009,845 
261,029 215,610 180,728 251,562 172,718 411,645 1,493,292 
Liabilities
Financial liabilities
at amortized cost		711,093 246,898 182,516 161,784 88,527 77,885 1,468,703 
Deposits697,339 210,538 118,035 61,332 22,161 15,903 1,125,308 
Central banks168 20,224 6,941 16,846 4,581 22 48,782 
Credit institutions6,572 25,990 21,390 13,434 5,963 7,897 81,246 
Customer deposits690,599 164,324 89,704 31,052 11,617 7,984 995,280 
Marketable debt
securitiesA
— 28,371 63,440 92,554 57,639 61,204 303,208 
Other financial liabilities13,754 7,989 1,041 7,898 8,727 778 40,187 
711,093 246,898 182,516 161,784 88,527 77,885 1,468,703 
Difference (assets less liabilities)(450,064)(31,288)(1,788)89,778 84,191 333,760 24,589 
A.Includes promissory notes, certificates of deposit and other short-term debt issues.
The detail of the remaining contractual maturities of the existing financial liabilities at amortised cost at 31 December 2025, 2024 and 2023 is as follows:
31 December 2025
EUR million
On demandWithin 3 months3 to 12 months1 to 3 years3 to 5 yearsMore than 5 yearsTotal
Financial liabilities at amortized cost
Deposits687,708 221,487 95,553 36,937 9,204 17,423 1,068,312 
Central banks857 8,497 4,581 2,892 — 1,627 18,454 
Credit institutions6,298 34,993 11,677 12,197 1,841 7,636 74,642 
Customer680,553 177,997 79,295 21,848 7,363 8,160 975,216 
Marketable debt securities— 37,742 47,782 93,250 62,071 66,107 306,952 
Other financial liabilities11,790 8,855 2,848 1,018 557 11,029 36,097 
699,498 268,084 146,183 131,205 71,832 94,559 1,411,361 
31 December 2024
EUR million
On demandWithin 3 months3 to 12 months1 to 3 years3 to 5 yearsMore than 5 yearsTotal
Financial liabilities at amortized cost
Deposits699,007 207,554 117,431 43,090 19,248 15,796 1,102,126 
Central banks17 9,082 11,026 4,772 — 7 24,904 
Credit institutions13,634 27,170 19,258 15,674 6,482 7,462 89,680 
Customer685,356 171,302 87,147 22,644 12,766 8,327 987,542 
Marketable debt securities— 36,315 48,973 102,306 61,260 74,817 323,671 
Other financial liabilities13,241 7,861 1,471 8,738 7,591 1,014 39,916 
712,248 251,730 167,875 154,134 88,099 91,627 1,465,713 
.
31 December 2023
EUR million
On demandWithin 3 months3 to 12 months1 to 3 years3 to 5 yearsMore than 5 yearsTotal
Financial liabilities at amortized cost                            
Deposits698,595 204,001 109,311 51,191 20,761 15,585 1,099,444 
Central banks168 20,334 6,853 16,846 4,581 35 48,817 
Credit institutions6,884 25,642 21,334 13,079 5,924 7,685 80,548 
Customer691,543 158,025 81,124 21,266 10,256 7,865 970,079 
Marketable debt securities— 28,258 62,935 91,492 56,944 60,166 299,795 
Other financial liabilities13,666 8,078 1,041 7,898 8,727 777 40,187 
712,261 240,337 173,287 150,581 86,432 76,528 1,439,426 
Below is a breakdown of contractual maturities for the rest of financial assets and liabilities as of 31 December 2025, 2024 and 2023:
31 December 2025
EUR million
Within 3 months3 to 12 months1 to 3
years		3 to 5
years		More than 5 yearsTotal
FINANCIAL ASSETS
Financial assets held for trading85,732 38,979 35,639 22,880 69,088 252,318 
Derivatives15,579 4,967 13,348 10,446 14,015 58,355 
Equity instruments— — — — 22,030 22,030 
Debt securities8,666 26,749 20,034 11,618 31,501 98,568 
Loans and advances61,487 7,263 2,257 816 1,542 73,365 
Central banks13,143 1,181 308 — — 14,632 
Credits institutions22,532 2,114 1,104 213 4 25,967 
Customers25,812 3,968 845 603 1,538 32,766 
Financial assets designated at fair value through profit or loss611 893 1,595 819 4,128 8,046 
Debt securities333 480 1,032 394 655 2,894 
Loans and advances278 413 563 425 3,473 5,152 
Credit institutions20 1 9 30 353 413 
Customers258 412 553 396 3,120 4,739 
Non-trading financial assets mandatorily at fair value through profit or loss1,091 174 407 — 6,089 7,761 
Equity instruments5,815 5,815 
Debt securities34 9 93 — 109 245 
Loans and advances1,057 165 314 — 165 1,701 
Central banks— — — — — — 
Credits institutions— — — — — — 
Customers1,057 165 314 — 165 1,701 
Financial assets at fair value through other comprehensive income— — — — 2,281 2,281 
Equity instruments— — — — 2,281 2,281 
Hedging derivatives1,066 293 609 440 1,523 3,931 
Changes in the fair value of hedged items in portfolio hedges of interest rate risk(22)63 (17)72 (46)50 
TOTAL FINANCIAL ASSETS88,478 40,402 38,233 24,211 83,063 274,387 
31 December 2025
EUR million
Within 3 months3 to 12 months1 to 3
years		3 to 5
years		More than 5 yearsTotal
FINANCIAL LIABILITIES
Financial liabilities held for trading131,052 5,783 14,084 10,642 9,985 171,546 
Derivatives18,105 4,339 11,403 10,051 8,070 51,968 
Shorts positions39,712 661 1,271 478 1,893 44,015 
Deposits73,235 783 1,410 113 22 75,563 
Central banks12,385 — — — — 12,385 
Credits institutions24,759 770 1,410 113 6 27,058 
Customers36,091 13 — — 16 36,120 
Financial liabilities designated at fair value through profit or loss19,717 4,015 6,934 3,849 7,633 42,148 
Deposits18,785 3,177 4,452 1,105 2,921 30,440 
Central banks3,086 — — — — 3,086 
Credits institutions914 23 115 31 341 1,424 
Customers14,785 3,154 4,337 1,074 2,580 25,930 
Marketable debt securitiesA
910 838 2,482 2,744 4,712 11,686 
Other financial liabilities22 — — — — 22 
Hedging derivatives447 681 735 917 1,468 4,248 
Changes in the fair value of hedged items in portfolio hedges of interest rate risk(16)25 4 36 — 49 
TOTAL FINANCIAL LIABILITIES151,200 10,504 21,757 15,444 19,086 217,991 
A.See breakdown by type of debt (subordinated debt, senior unsecured debt, senior secured debt, promissory notes and other securities) (see note 22).
31 December 2025
EUR million
Within 3 months3 to 12 months1 to 3
years		3 to 5
years		More than 5 yearsTotal
Memorandum items
Loans commitment granted146,340 31,411 45,392 58,085 40,006 321,234 
Financial guarantees granted8,348 6,018 1,803 630 650 17,449 
Other commitments granted102,278 21,002 11,820 3,643 9,375 148,118 
MEMORANDUM ITEMS256,966 58,431 59,015 62,358 50,031 486,801 
In the Group’s experience, no outflows of cash or other financial assets take place prior to the contractual maturity date that might affect the information broken down above.
31 December 2024
EUR million
Within 3 months3 to 12 months1 to 3
years		3 to 5
years		More than 5 yearsTotal
FINANCIAL ASSETS
Financial assets held for trading64,300 56,571 33,945 24,504 50,933 230,253 
Derivatives14,231 14,504 16,676 12,384 6,305 64,100 
Equity instruments— — — — 16,636 16,636 
Debt securities6,930 21,305 15,319 11,944 27,148 82,646 
Loans and advances43,139 20,762 1,950 176 844 66,871 
Central banks1,241 11,725 — — — 12,966 
Credits institutions21,840 4,088 1,287 — 99 27,314 
Customers20,058 4,949 663 176 745 26,591 
Financial assets designated at fair value through profit or loss152 750 2,421 1,075 3,517 7,915 
Debt securities95 342 1,254 680 526 2,897 
Loans and advances57 408 1,167 395 2,991 5,018 
Central banks— — — — — — 
Credit institutions16 — 5 34 353 408 
Customers41 408 1,162 361 2,638 4,610 
Non-trading financial assets mandatorily at fair value through profit or loss794 8 29 102 5,197 6,130 
Equity instruments— — — — 4,641 4,641 
Debt instruments39 2 3 10 393 447 
Loans and advances755 6 26 92 163 1,042 
Central banks— — — — — — 
Credits institutions— — — — — — 
Customers755 6 26 92 163 1,042 
Financial assets at fair value through other comprehensive income— — — — 2,193 2,193 
Equity instruments— — — — 2,193 2,193 
Hedging derivatives1,786 1,423 957 800 706 5,672 
Changes in the fair value of hedged items in portfolio hedges of interest rate risk(61)18 (569)(50)(42)(704)
TOTAL FINANCIAL ASSETS66,971 58,770 36,783 26,431 62,504 251,459 
31 December 2024
EUR million
Within 3 months3 to 12 months1 to 3
years		3 to 5
years		More than 5 yearsTotal
FINANCIAL LIABILITIES
Financial liabilities held for trading100,071 16,537 14,244 12,530 8,769 152,151 
Derivatives14,364 13,296 11,946 12,335 5,812 57,753 
Shorts positions28,548 2,931 1,199 195 2,957 35,830 
Deposits57,159 310 1,099 — — 58,568 
Central banks13,300 — — — — 13,300 
Credits institutions24,875 310 1,099 — — 26,284 
Customers18,984 — — — — 18,984 
Financial liabilities designated at fair value through profit or loss16,036 6,000 6,422 1,918 5,984 36,360 
Deposits15,193 4,860 4,037 490 4,226 28,806 
Central banks1,774 — — — — 1,774 
Credits institutions1,035 133 15 49 393 1,625 
Customers12,384 4,727 4,022 441 3,833 25,407 
Marketable debt securitiesA
843 1,140 2,385 1,428 1,758 7,554 
Hedging derivatives832 668 826 814 1,612 4,752 
Changes in the fair value of hedged items in portfolio hedges of interest rate risk— (5)13 47 (64)(9)
TOTAL FINANCIAL LIABILITIES116,939 23,200 21,505 15,309 16,301 193,254 
A.See breakdown by type of debt (subordinated debt, senior unsecured debt, senior secured debt, promissory notes and other securities) (see note 22).

31 December 2024
EUR million
Within 3 months3 to 12 months1 to 3
years		3 to 5
years		More than 5 yearsTotal
Memorandum items
Loans commitment granted133,084 35,747 57,157 57,285 19,588 302,861 
Financial guarantees granted5,103 6,803 3,691 796 508 16,901 
Other commitments granted92,172 20,681 13,197 5,032 3,411 134,493 
MEMORANDUM ITEMS230,359 63,231 74,045 63,113 23,507 454,255 
31 December 2023
EUR million
Within 3 months3 to 12 months1 to 3
years		3 to 5
years		More than 5 yearsTotal
FINANCIAL ASSETS
Financial assets held for trading36,120 49,668 30,602 17,912 42,619 176,921 
Derivatives8,777 10,551 17,775 9,532 9,693 56,328 
Equity instruments— — — — 15,057 15,057 
Debt securities7,598 18,315 10,274 8,137 17,800 62,124 
Loans and advances19,745 20,802 2,553 243 69 43,412 
Central banks1,146 16,571 — — — 17,717 
Credits institutions10,861 2,076 1,079 45 — 14,061 
Customers7,738 2,155 1,474 198 69 11,634 
Financial assets designated at fair value through profit or loss1,657 557 2,529 1,350 3,680 9,773 
Debt securities252 77 1,269 690 807 3,095 
Loans and advances1,405 480 1,260 660 2,873 6,678 
Credit institutions26 22 3 15 393 459 
Customers1,379 458 1,257 645 2,480 6,219 
Non-trading financial assets mandatorily at fair value through profit or loss591 153 71 80 5,015 5,910 
Equity instruments— — — — 4,068 4,068 
Debt instruments41 — 57 3 759 860 
Loans and advances550 153 14 77 188 982 
Customers550 153 14 77 188 982 
Financial assets at fair value through other comprehensive income— — — — 1,761 1,761 
Equity instruments— — — — 1,761 1,761 
Hedging derivatives1,188 412 1,535 937 1,225 5,297 
Changes in the fair value of hedged items in portfolio hedges of interest rate risk(237)(225)156 (402)(80)(788)
TOTAL FINANCIAL ASSETS39,319 50,565 34,893 19,877 54,220 198,874 
31 December 2023
EUR million
Within 3 months3 to 12 months1 to 3
years		3 to 5
years		More than 5 yearsTotal
FINANCIAL LIABILITIES
Financial liabilities held for trading73,257 12,127 19,180 10,591 7,115 122,270 
Derivatives8,147 9,486 17,990 10,060 4,906 50,589 
Shorts positions21,381 1,288 765 531 2,209 26,174 
Deposits43,729 1,353 425 — — 45,507 
Central banks7,808 — — — — 7,808 
Credits institutions17,228 209 425 — — 17,862 
Customers18,693 1,144 — — — 19,837 
Financial liabilities designated at fair value through profit or loss23,190 7,583 4,863 1,359 3,372 40,367 
Deposits22,688 6,459 3,223 338 2,288 34,996 
Central banks1,158 51 — — — 1,209 
Credits institutions1,161 57 84 61 372 1,735 
Customers20,369 6,351 3,139 277 1,916 32,052 
Marketable debt securitiesA
502 1,124 1,640 1,021 1,084 5,371 
Hedging derivatives1,525 2,064 1,577 878 1,612 7,656 
Changes in the fair value of hedged items in portfolio hedges of interest rate risk(1)(4)36 (5)29 55 
TOTAL FINANCIAL LIABILITIES97,971 21,770 25,656 12,823 12,128 170,348 
A.See breakdown by type of debt (subordinated debt, senior unsecured debt, senior secured debt, promissory notes and other securities) (see note 22).

31 December 2023
EUR million
Within 3 months3 to 12 months1 to 3
years		3 to 5
years		More than 5 yearsTotal
Memorandum items
Loans commitment granted125,083 31,658 55,344 47,204 20,300 279,589 
Financial guarantees granted7,870 4,734 1,654 686 491 15,435 
Other commitments granted81,146 17,448 9,699 3,386 1,594 113,273 
MEMORANDUM ITEMS214,099 53,840 66,697 51,276 22,385 408,297 
b) Equivalent euro value of assets and liabilities
The detail of the main foreign currency balances in the consolidated balance sheet, based on the nature of the related items, is as follows:
Equivalent value in EUR million
202520242023
AssetsLiabilitiesAssetsLiabilitiesAssetsLiabilities
Cash, cash balances at central banks and other deposits on demand89,186 — 109,932 — 114,410 — 
Financial assets/liabilities held for trading136,499 75,272 130,076 76,216 106,011 60,581 
Non-trading financial assets mandatorily at fair value through profit or loss3,530 — 3,208 — 3,291 — 
Other financial assets/liabilities at fair value through profit or loss666 14,943 793 13,844 1,721 12,699 
Financial assets at fair value through other comprehensive income45,564 — 60,861 — 60,516 — 
Financial assets at amortized cost745,401 — 777,226 — 773,504 — 
Investments1,859 — 2,103 — 1,689 — 
Tangible assets14,437 — 18,812 — 20,797 — 
Intangible assets10,296 — 12,282 — 12,772 — 
Financial liabilities at amortized cost— 854,517 — 938,844 — 937,917 
Liabilities under insurance contracts— 227 — 261 — 330 
OtherA
96,469 82,901 25,891 22,385 26,236 25,740 
1,143,907 1,027,860 1,141,184 1,051,550 1,120,947 1,037,267 
A.Includes the import of the Polish business held for sale.
c) Fair value of financial assets and liabilities not measured at fair value
The fair value at year-end of the financial instruments (certain portfolios of loans and advances and debt securities, on the asset side, and deposits and debt securities, on the liability side) registered in the consolidated balance sheet at amortized cost is presented below:
i) Financial assets measured at other than fair value
EUR million
202520242023
AssetsCarrying amountFair valueLevel 1Level 2Level 3Carrying amountFair valueLevel 1Level 2Level 3Carrying amountFair valueLevel 1Level 2Level 3
Loans and advances1,062,675 1,062,981 — 113,004 949,977 1,082,758 1,073,530 — 104,582 968,948 1,087,844 1,077,543 — 103,414 974,129 
Debt securities140,014 139,242 103,120 14,100 22,022 120,949 119,539 87,170 13,149 19,220 103,559 102,888 67,951 11,057 23,880 
1,202,689 1,202,223 103,120 127,104 971,999 1,203,707 1,193,069 87,170 117,731 988,168 1,191,403 1,180,431 67,951 114,471 998,009 
ii) Financial liabilities measured at other than fair value
EUR million
202520242023
LiabilitiesA
Carrying amountFair valueLevel 1Level 2Level 3Carrying amountFair valueLevel 1Level 2Level 3Carrying amountFair valueLevel 1Level 2Level 3
Deposits1,072,384 1,073,147 — 235,998 837,149 1,126,439 1,125,532 — 250,440 875,092 1,125,308 1,124,373 — 263,428 860,945 
Debt securities312,704 314,173 162,382 115,597 36,194 317,967 317,912 170,118 112,365 35,429 303,208 298,792 136,109 125,575 37,108 
1,385,088 1,387,320 162,382 351,595 873,343 1,444,406 1,443,444 170,118 362,805 910,521 1,428,516 1,423,165 136,109 389,003 898,053 
A.At 31 December 2025, Grupo Santander had other financial liabilities that amounted to EUR 36,096 million, EUR 39,916 million in 2024 and EUR 40,187 million in 2023.
The main valuation methods and inputs used in the estimates at 31 December 2025 of the fair values of the financial assets and liabilities in the foregoing table were as follows:
•Financial assets at amortised cost: the fair value was estimated using the present value method. The estimates were made considering factors such as the expected maturity of the portfolio, market interest rates, spreads on newly approved transactions or market spreads -when available-.
•Financial liabilities at amortised cost:
i) Deposits: the fair value of short term and on demand deposits was taken to be their carrying amount. Factors such as the expected maturity of the transactions and the Group’s current cost of funding in similar transactions are consider for the estimation of long term deposits fair value. It had been used also current rates offered for deposits of similar remaining maturities.
ii) Marketable debt securities and subordinated liabilities: the fair value was calculated based on market prices for these instruments -when available- or by the present value method using market interest rates and spreads, as well as using any significant input which is not observable with market data if applicable.
iii) The fair value of cash, cash balances at central banks and other deposits on demand was taken to be their carrying amount since they are mainly short-term balances.
d) Offsetting of financial instruments
Following is the detail of financial assets and liabilities that were offset in the consolidated balance sheets as of 31 December 2025, 2024 and 2023:
31 December 2025
EUR million
Assets
Gross amount of financial assets
Gross amount of financial assets offset in the balance sheet
Net amount of financial assets presented in the balance sheet
Derivatives117,733 (55,447)62,286 
Reverse repurchase agreements217,509 (76,535)140,974 
Total335,242 (131,982)203,260 
31 December 2024
EUR million
Assets
Gross amount of financial assets
Gross amount of financial assets offset in the balance sheet
Net amount of financial assets presented in the balance sheet
Derivatives152,331 (82,559)69,772 
Reverse repurchase agreements189,034 (67,488)121,546 
Total341,365 (150,047)191,318 
31 December 2023
EUR million
Assets
Gross amount of financial assets
Gross amount of financial assets offset in the balance sheet
Net amount of financial assets presented in the balance sheet
Derivatives149,508 (87,883)61,625 
Reverse repurchase agreements179,580 (79,500)100,080 
Total329,088 (167,383)161,705 


















31 December 2025
EUR million
Liabilities
Gross amount of financial liabilities
Gross amount of financial liabilities offset in the balance sheet
Net amount of financial liabilities presented in the balance sheet
Derivatives111,664 (55,447)56,217 
Reverse repurchase agreements246,961 (76,535)170,426 
Total358,625 (131,982)226,643 
31 December 2024
EUR million
Liabilities
Gross amount of financial liabilities
Gross amount of financial liabilities offset in the balance sheet
Net amount of financial liabilities presented in the balance sheet
Derivatives145,064 (82,559)62,505 
Reverse repurchase agreements223,141 (67,488)155,653 
Total368,205 (150,047)218,158 
31 December 2023
EUR million
Liabilities
Gross amount of financial liabilities
Gross amount of financial liabilities offset in the balance sheet
Net amount of financial liabilities presented in the balance sheet
Derivatives146,128 (87,883)58,245 
Reverse repurchase agreements212,840 (79,500)133,340 
Total358,968 (167,383)191,585 

At 31 December 2025, Grupo Santander has offset other items amounting to EUR 632 million (EUR 811 million and EUR 910 million at 31 December 2024 and 2023, respectively).

At 31 December 2025 the balance sheet shows the amounts EUR 192,621 million (EUR 176,198 million and EUR 151,044 million at 31 December 2024 and 2023) on derivatives and repos as assets and EUR 220,296 million (EUR 209,121 million and EUR 180,539 million at 31 December 2024 and 2023, respectively) on derivatives and repos as liabilities that are subject to netting and collateral arrangements.