Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 365

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 365
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523)
Less: settlement of pre-existing relationships 3,686
Cash out from disposals of subsidiaries, net of cash disposed of ( 8,949)
Costs associated to the sale taken into result in 2023 ( 3,072)
Costs associated to the sale taken into result in 2024 ( 526)
Cash used for other liabilities related to the disposal of subsidiaries ( 3,598)
Of the €50.0million of upfront payment received at closing of the transaction €40.0million was paid into an escrow account. This amount was kept in escrow for a period of one year after the closing date of January 31, 2024, and was partially released in February 2025 (the remaining part being under discussion). We gave customary representations and warranties which are capped and limited in time. At December 31, 2024, this €40.0million is presented as “ Escrow account” in the statement of financial position, together with the interests on this escrow account.

F-32

Table of Contents

II Result from discontinued operations
Year ended December 31,
2024
────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
(Euro, in thousands, except share and per share data)
Product net sales € 11,475 112,339 87,599
Collaboration revenues 26,041 431,465 176,432
Total net revenues 37,516 543,804 264,031
Cost of sales ( 1,693) ( 18,022) ( 12,079)
Research and development expenses ( 8,152) ( 190,177) ( 245,286)
Sales and marketing expenses ( 11,520) ( 113,356) ( 144,075)
General and administrative expenses ( 1,087) ( 17,989) ( 9,776)
Other operating income 56,180 13,003 10,721
Operating profit/loss (-) 71,244 217,262 ( 136,464)
Fair value adjustments and net currency exchange differences - ( 13) ( 25)
Other financial income 4,230 679 15
Other financial expenses ( 12) ( 167) ( 7,825)
Profit/loss (-) before tax 75,462 217,761 ( 144,298)