v3.26.1
Consolidated Statements of Cash Flows - EUR (€)
€ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of cash flows [abstract]      
CASH FLOWS FROM OPERATING ACTIVITIES € (14,835) € (24,155) € 5,015
Profit or loss for the year 15,500 13,744 12,183
Adjustments made to obtain the cash flows from operating activities 31,347 28,361 26,948
Depreciation and amortisation cost 3,178 3,179 3,086
Other adjustments 28,169 25,182 23,862
Net increase/(decrease) in operating assets 119,257 117,996 74,982
Financial assets held-for-trading 25,776 62,460 18,332
Non-trading financial assets mandatorily at fair value through profit or loss 1,867 31 286
Financial assets at fair value through profit or loss 146 (1,850) 874
Financial assets at fair value through other comprehensive income (6,733) 10,225 (4,470)
Financial assets at amortized cost 97,964 45,995 60,525
Other operating assets 237 1,135 (565)
Net increase/(decrease) in operating liabilities 62,529 57,616 46,080
Financial liabilities held-for-trading 20,654 34,256 5,450
Financial liabilities designated at fair value through profit or loss 5,858 (3,854) (11)
Financial liabilities at amortized cost 35,719 34,164 40,138
Other operating liabilities 298 (6,950) 503
Income tax recovered/(paid) (4,954) (5,880) (5,214)
CASH FLOWS FROM INVESTING ACTIVITIES 534 (3,712) (5,366)
Payments 7,925 11,355 15,056
Tangible assets 5,854 8,494 11,446
Intangible assets 1,805 2,104 2,197
Investments 79 686 139
Subsidiaries and other business units 187 71 1,274
Non-current assets held for sale and associated liabilities 0 0 0
Other payments related to investing activities 0 0 0
Proceeds 8,459 7,643 9,690
Tangible assets 5,206 5,966 7,074
Intangible assets 0 0 0
Investments 749 681 814
Subsidiaries and other business units 54 8 885
Non-current assets held for sale and associated liabilities 2,450 988 917
Other proceeds related to investing activities 0 0 0
CASH FLOWS FROM FINANCING ACTIVITIES (14,203) (5,510) (2,058)
Payments 17,743 14,045 10,187
Dividends 3,341 3,017 2,261
Subordinated liabilities 8,822 4,096 2,931
Redemption of own equity instruments 0 751 0
Acquisition of own equity instruments 4,081 4,038 3,109
Other payments related to financing activities 1,499 2,143 1,886
Proceeds 3,540 8,535 8,129
Subordinated liabilities 2,287 7,001 7,007
Issuance of own equity instruments 0 0 0
Disposal of own equity instruments 815 765 825
Other proceeds related to financing activities 438 769 297
EFFECT OF FOREIGN EXCHANGE RATE CHANGES (8,908) 5,243 (322)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (37,412) (28,134) (2,731)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 192,208 220,342 223,073
CASH AND CASH EQUIVALENTS AT END OF THE YEAR 154,796 192,208 220,342
COMPONENTS OF CASH AND CASH EQUIVALENTS AT END OF THE YEAR      
Cash 7,357 9,253 8,621
Cash equivalents at central banks 135,330 170,914 199,932
Other financial assets 9,594 12,041 11,789
Less, bank overdrafts refundable on demand 0 0 0
TOTAL CASH AND CASH EQUIVALENTS AT END OF THE YEAR (EXCLUDING ENTITIES ON SOLD) 152,281 192,208 220,342
In which, restricted cash 0 0 0
TOTAL CASH AND CASH EQUIVALENTS AT END OF PERIOD ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE € 2,515 € 0 € 0