Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 197

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 197
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​                                             ​   Year ended December 31,                        ​   ​          ​
​                                             2024                   2023                            ​   % Change
​                                             ​   ​                       (Euro, in thousands)   ​   ​          ​
Personnel costs                               ​   €       (87,740)   ​       €        (95,788)   ​   ​       (8%)
Subcontracting                                ​   ​      (160,076)   ​       ​        (82,997)   ​   ​        93%
Disposables and lab fees and premises costs   ​   ​       (17,629)   ​       ​        (18,083)   ​   ​       (3%)
Depreciation and amortization                 ​   ​       (35,378)   ​       ​        (22,254)   ​   ​        59%
Professional fees                             ​   ​       (15,949)   ​       ​         (9,272)   ​   ​        72%
Other operating expenses                      ​   ​       (18,687)   ​       ​        (12,900)   ​   ​        45%
Total R&amp;D expenses                        ​   €      (335,459)   ​       €       (241,294)   ​   ​        39%
​
​

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143

The variance in our R&D expenses in 2024 compared to 2023 was principally due to the following elements: 

●   A decrease in personnel costs explained by lower accelerated non-cash cost recognition for subscription right plans related to good leavers and reduced severance expenses.
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●   An increase in subcontracting costs following the evolution of our cell therapy programs in oncology.
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●   An increase in depreciation and impairment due to the depreciation on the upfront exclusivity consideration paid to Adaptimmune.
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The table below summarizes our R&D expenses for the years ended December 31, 2024 and 2023, broken down by program.

                ​                   ​    ​         ​        ​      ​         ​       ​    ​      ​  
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​                                   ​   Year ended December 31,                      ​   ​         ​
​                                   2024                   2023                          % Change   
​                                   ​   (Euro, in thousands)                         ​   ​         ​
SIKi program                        ​   ​       (18,