I'd be allowing up to an hour for bags to show up on the carousel in economy, especially from a larger plane. Even with a priority tag or in business, it can be a wait.

Plus having to clear immigration, take the train from T4S to T4, re-check in, and re-clear security at T4. It strikes me as odd that a MAD-VIE flight within Schengen would depart from T4S rather than T4, though.