The public company Canarias Congress Bureau Maspalomas Gran Canaria, SA, owned by the Government of the Canary Islands and the City Council of San Bartolomé de Tirajana, closed the 2025 financial year reflecting a negative result of 455.708 euros in its profit and loss account, a figure that maintains the deficit trend of the entity and consolidates an activity limited exclusively to the mere ownership of assets after the historic transfer of the operation of the congress palace to private initiative.
The official balance sheet of the SME, corresponding to the close of December 31st, places the company's total assets at €20,9 million, experiencing a slight decrease compared to the €21,6 million recorded at the close of the previous fiscal year. The bulk of these assets are concentrated almost entirely within non-current assets, amounting to €20.670.173, where real estate investments stand out with a net value of €20.598.093. Of this, €1.944.274 corresponds to the value of the land and €18.653.819 to the buildings directly linked to the complex located in the south of the island.
Meanwhile, current assets decreased to €257.590, comprising items such as trade receivables and other accounts receivable amounting to €222.897, along with cash and cash equivalents totaling €31.746. Regarding liabilities and equity, the company's net worth stands at €15.925.769, with negative equity of €706.685 due to accumulated results from previous years, despite having a share capital of €4.228.120 and grants, donations, and bequests received amounting to €16.632.455.
The entity's non-current liabilities amount to €4.969.055, primarily composed of deferred tax liabilities and long-term debt, while current liabilities are limited to €32.937, consisting of short-term debt and trade payables. On the operational side, the income statement details that operating expenses totaled €450.163, which, together with depreciation of fixed assets and adjustments for subsidies, resulted in a negative operating profit that exactly mirrors the ending balance before tax for the year.
The financial report accompanying the annual accounts, formally prepared by the board of directors chaired by the Regional Minister of Tourism and Employment, Jéssica de León, outlines the legal and management framework of the entity. The corporate activity of Canarias Congress Bureau Maspalomas is limited to the management of its real estate assets, and it relies financially on institutional contributions to cover its operating expenses.
The administrators emphasize in the report that the company operates on the going concern principle and that the impact of recent international conflicts has not altered the continuity of its economic activity, thus exempting it from mandatory audit as it does not exceed the threshold of regional subsidies established in current legislation.
