Maxwell Cremona's 2025 financial statements contain a impressive discrepancy. The Madrid-based consultancy, owned and administered by Alberto González Amador, partner of regional president Isabel Díaz Ayuso, reported a €1,225,000 dividend distributed from reserves. Yet its balance sheet and profit-and-loss account show no evidence that such a payout was possible or took place that year.
Information from the accounts filed with the Madrid Mercantile Registry, Maxwell Cremona reported revenue of €709,739 in 2025 and closed the year with a loss of €26,235. The annual report is notably sparse, with most sections left blank, making the dividend note in section 10 stand out. It says a dividend was paid from reserves, but the figures do not align: at the end of 2024, the company had €499,405 in reserves and net equity of €494,600, far short of the amount needed for a €1.2 million distribution.
The only year in which Maxwell Cremona had sufficient reserves for a dividend of that size was 2024. The company began that year with €1.625 million in equity, posted a profit of nearly €100,000 and distributed a €1,225,000 dividend, reducing its net equity to around half a million euros. By the end of 2024, available reserves and undistributed profits had already been largely depleted. The 2025 accounts show no impressive increase in reserves or profits that would have allowed another major payout. Instead, further losses reduced the company's equity.
The dividend note in the 2025 report may have been carried over by mistake from the previous year rather than recording an actual transaction. Notes to annual accounts can refer to past dividend distributions, but a clear explanation helps avoid confusion. Maxwell Cremona's filing offers none, prompting questions about the accuracy of its reporting.
The company's financial health has also deteriorated sharply. Turnover fell from €1.62 million in 2023 to €945,000 in 2024 and just under €710,000 in 2025. The decline has pushed the firm into losses after several years of strong profits, which had previously enabled the large 2024 dividend. Maxwell Cremona has also featured in reporting on a wider judicial investigation into commercial operations involving private healthcare and pandemic-era medical supplies.
That broader inquiry examines possible corporate mismanagement and private-sector corruption allegations connected to commercial transactions. On 20 October 2026, the Audiencia Provincial de Madrid authorized the Guardia Civil's Central Operative Unit, known as the UCO, to cross-check González Amador's tax and Social Security information against banking data. ABC reported that investigators are examining about €6 million in income received by his companies between 2020 and 2023 from contracts invoiced to Quirón, including pandemic-related medical-supplies activity. The court's authorization concerns financial flows and declared income; it is an investigative measure, separate from the accounting question raised by Maxwell Cremona's 2025 dividend note.
The investigation also includes a suspected payment involving Fernando Camino, identified in reporting as director general of Quirón Prevención, and Gloria Carrasco, owner of Círculo de Belleza, S.L. Público reported that prosecutors allege González Amador bought the León cosmetics company for €500,000 in December 2020 in connection with benefits from pandemic mask intermediation. Prosecutor Diego Lucas Álvarez characterized the alleged purpose as “retribuir un favor recibido” (“repay a favor received”). These remain allegations in an ongoing investigation, not a judicial finding that a bribe was paid.
The case has drawn attention in Madrid, particularly given the political connections involved. Scrutiny of official property use in the region has also been in the spotlight. That includes the government's decision to sell a controversial penthouse after licensing issues, detailed in this recent report on Madrid's property management challenges.
Dividend distributions in Spain are subject to accounting and company-law rules: companies may distribute dividends only from accumulated profits or freely available reserves, and must reflect those payments in their accounts. Errors or ambiguities in financial statements can invite scrutiny and undermine confidence in corporate governance. The apparent repetition of a previous year's dividend note without proper context has raised questions about the reliability of Maxwell Cremona's filing and the need for transparent reporting, particularly for companies linked to public figures.
