Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 428

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 428
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 from an agreement with Sodexo in Brazil compared to a gain of EUR 313 million in 2023.

For more details, see note 48 to the consolidated financial statements.

Negative goodwill recognized in results

No negative goodwill was recorded in 2024. Negative goodwill of EUR 39 million was recorded in 2023.

Gains or losses on non-current assets held for sale not classified as discontinued operations

This item, which mainly includes impairment of foreclosed assets recorded and the sale of properties acquired upon foreclosure, recorded a EUR 27 million loss in 2024 (EUR 20 million loss in 2023).

For more details, see note 49 to the consolidated financial statements.

Annual report 2024 405

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

| Impairment or reversal of impairment of financial assets not measured at fair value through profit or loss (net)                                 |     |        |      |     |        |      |     |        |      |
| EUR million                                                                                                                                      |     |        |      |     |        |      |     |        |      |
|                                                                                                                                                  |     |        | 2024 |     |        | 2023 |     |        | 2022 |
| Financial assets at fair value through other comprehensive income                                                                                |     |      — |      |     |     44 |      |     |      7 |      |
| Financial assets at amortized cost                                                                                                               |     | 12,644 |      |     | 12,912 |      |     | 10,856 |      |
| Impairment or reversal of impairment of financial assets not measured at fair value through profit or loss and net gains and losses from changes |     | 12,644 |      |     | 12,956 |      |     | 10,863 |      |

| Impairment on other assets (net)                                              |     |     |      |     |     |      |     |     |      |
| EUR million                                                                   |     |     |      |     |     |      |     |     |      |
|                                                                               |     |     | 2024 |     |     | 2023 |     |     | 2022 |
| Impairment of investments in subsidiaries, joint ventures and associates, net |     |   — |      |     |   —