IBERSOL | Integrated Management Report | 2025

Individual Financial Statements Book Value Valuation Method Financial Liabilities Category Year 2025 Year 2024 Borrowings obtained outros passivos - 9 832 442 amortised cost Group subsidiaries accounts payable outros passivos 2 066 856 2 795 596 amortised cost Suppliers outros passivos 44 307 3 265 amortised cost Accrued expenses outros passivos 72 699 81 421 amortised cost State and other public entities outros passivos 286 543 264 948 amortised cost Other creditors outros passivos 2 424 2 317 amortised cost 2 472 829 12 979 989 7.5. Financial activity result Accounting policies Net financial costs are essentially associated with interest and ancillary costs on loans obtained, interest on investments made and dividends. Net financial costs are recognized in the income statement on an accrual basis during the period to which they relate. Financial costs and expenses in 2025 and 2024 are as follows: Financial costs and expenses 2025 2024 Interest on commercial paper 29 654 141 282 Commissions on commercial paper 14 718 37 906 Others 1 116 11 146 45 488 190 335 534