The purpose of this work was to reinvestigate the existing hydrogeological conceptual model of the basin of Madrid, Spain. A cumulative chemical isotopic diagram which enabled the distinction between different groups of water as well as calculation of the mode of their blending was used for this investigation. It was found that the groups of discharge were lighter in their isotopic composition than that of recharge. The previous explanation of this fact, backed by carbon-14 dating, was the long residence time due to flow lines going down to depths of more than 1000 m. This flow model assumes homogenous conditions to these depths. This assumption can not be supported by evidence from deep wells. Thus a modified model is suggested which maintains homogenous conditions only to about 300 m and a deep confined aquifer below containing paleowater. The higher degree of depletion of this water has been explained by a colder climate on top of an altitude effect. Another interesting observation was the correlation between the isotopic composition of the rains, the month of the rain event and the composition of the recharge group groundwater. It could be seen that the winter rains resemble the groundwater composition, which shows that practically all the spring and summer rains were evapotranspirated.