Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 419

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 419
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 market conditions.
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●   Involving professionals with valuation expertise to provide an independent evaluation of discount rate used.
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●   Examining the sensitivity analyses performed by the Company to understand the impact of changes in key assumptions on the impairment assessment and performing our own sensitivity calculations.
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/s/ BDO Bedrijfsrevisoren BVWe have served as the Company's auditor since 2023.Zaventem, BelgiumMarch 27, 2025​​   ​
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F-4

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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To the shareholders and the Board of Directors of Galapagos NV 
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Opinion on the Financial Statements
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We have audited the accompanying consolidated income statement, and statements of comprehensive income/loss(-), changes in equity and cash flows of Galapagos NV and subsidiaries (the "Company") for the year ended December 31, 2022, and the related notes (collectively referred to as the "financial statements"). In our opinion, the 2022 financial statements present fairly, in all material respects, the results of the Company’s operations and its cash flows for the year ended December 31, 2022, in conformity with IFRS Accounting Standards as issued by the International Accounting Standards Board.
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Basis for Opinion
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These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
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We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and