Palacio de la Zarzuela has replied to the latest reports regarding King Felipe's accounts. A few days ago, there were rumors that Casa Real had closed the 2024 fiscal year in the red and many demanded an explanation. Now, the institution has said enough and wants it to be known what those nearly €100,000 in losses are due to.
Casa Real denies that the Crown is in the red and states the opposite: that the 2024 accounts closed with a positive balance. Faced with these two versions, Palacio de la Zarzuela adds another explanation to correctly interpret what happened.
Palacio de la Zarzuela clears up doubts about King Felipe's accounts
The Crown's transparency law has caused an unexpected stir after the institution's account status came to light. What drew the most attention were the €99,591 in losses recorded during the 2024 fiscal year. This result has raised alarms, and Palacio de la Zarzuela has decided to tell the truth about King Felipe's accounts.
Zarzuela has clarified that this reading corresponds to the equity economic result, which measures amortizations, valuation of fixed assets, and changes in cash flow. This accounting approach doesn't reflect the actual operation of the annual budget, which has led to media confusion that Casa Real wanted to correct. Moreover, they state that 2024 closed with a positive balance of €138,304.
King Felipe has sent a statement explaining the difference between these two versions regarding the real state of the Crown's accounts. The official statement highlights that this deficit only appears in the equity account, but the budget balance shows a surplus of €138,304. In other words, there haven't been any losses.
The explanation clarifies that €2,481,798.50 from own funds were used to finance digital investments, which doesn't count as new income. The statement from Palacio de la Zarzuela specifies that this figure merely represents an accounting difference and not a real cash flow problem.
Palacio de la Zarzuela shows what King Felipe and the rest of the royal family earn
The Crown's transparency exercise also shows the balance available to King Felipe and the rest of the royal family. The direct state allocation to the members of Palacio de la Zarzuela has been €8,431,150 since 2021, an amount that will remain unchanged through 2026.
Additionally, in 2024, King Felipe and Letizia received €277,361 and €152,539 respectively, totaling €554,714 in personal allocations. The emeritus queen continues to receive €124,814 annually for her activities within the royal household, according to official accounts. Neither Princess Leonor nor Infanta Sofía have an economic allocation yet, since they haven't assumed a permanent official role in the institution.
The equity deficit was caused mainly by investment in digital transformation, which reached €2.48 million in computer equipment and audiovisual study. At the end of 2024, Casa del Rey had cash reserves close to €4.94 million deposited in Banco de España.
The message emphasizes that there was no misuse of funds, but rather proper management of reserves and continuity in the financing of digital projects. Palacio de la Zarzuela points out that the interpretation of "in the red" doesn't represent a financial collapse, but a one-off accounting effect explained by amortizations.
This means that Casa Real did not close the year with liquidity problems. Rather, with a positive balance of more than €100,000, since that deficit doesn't correspond to the budget balance, but to the equity economic result. Two completely different terms that have led to confusion.