Energy consumption for heating and cooling in buildings depends on climatic conditions. This paper compares heat losses and gains for four locations - two in Poland and two in Spain. Results shown similar cool load in three variants: Burgos in Spain and Bialystok and Wroclaw in Poland, while the highest cool load was recorded in Cordoba (Spain). In case of winter season, also results obtained in Cordoba differed significantly and its heat load was more than twice lower than in other cases. Economic comparison was prepared for two variants: first – heating with a gas boiler and cooling with multi-split air conditioners and second – heating and cooling with a reversible air-water heat pump. Taking into account national prises the total cost of heating and cooling was estimated and found higher for both analysed in Spanish locations, especially high in Cordoba due to high annual demand for cooling. Using reversible air-water heat pump is definitely more favourable than gas boiler with multi-split. For Polish locations it gives 17.4% - 24.6% cost reduction, whereas for Cordoba annual operating costs are more than twice lower when using a reversible heat pump.