I flew Spanair MAD-FRA earlier this week.
MAD lounge is fine, but basic. Slightly more limited selection of snacks and drinks than regular BD business lounge. But no problems with access.
Re onboard refreshments, this was obviously a 2.5 hr international trip rather than a domestic. Meal tray with some barely edible form of fishy salad in a gloopy pink sauce, an unfortunate cheesey quiche type thing and a couple of slices of lomo with a fig in the middle followed by an apricot cake(ish). Eat before you board.
Arrived at FRA about 10 minutes late.
You do realise that the LHR-MAD leg will be on a codeshare with BD metal?