Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 311

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 11
Chunk 311
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ilead for which payments are denominated in U.S. dollars.
The exchange rate risk in case of a 10% change in the exchange rate amounts to:

               ​                   ​   ​       ​       ​    ​       ​       ​    ​       ​    
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​                                  ​   December 31,                                           
​                                  2024                2023                 2022              
Net book value                     ​   (Euro, in thousands)                                   
Increase in Euros - U.S. Dollars   ​   €    (70,387)   ​    €    (78,013)   ​    €    (85,140)
Increase in Euros - GB Pounds      ​   ​          31   ​    ​         666   ​    ​         960
Increase in Euros - CH Francs      ​   ​         280   ​    ​         385   ​    ​         557
​
​
The exchange rate risk on the U.S. dollar is primarily related to our cash and cash equivalents and financial investments held in U.S. dollars.
Capital risk factors
We manage our capital to safeguard that we will be able to continue as a going concern. At the same time, we want to ensure the return to our shareholders through the results from our research and development activities.
Our capital structure consists of financial investments, cash and cash equivalents, and equity attributed to the holders of our equity instruments, such as capital, reserves and results carried forward, as mentioned in the consolidated statement of changes in equity.
We manage our capital structure and make the necessary adjustments in the light of changes of economic circumstances, the risk characteristics of underlying assets and the projected cash needs of the current research and development activities.
The adequacy of the capital structure will depend on many factors, including scientific progress in the research and development programs, the magnitude of those programs, the commitments to existing and new clinical contract research organizations, the ability to establish new alliance or collaboration agreements, the capital expenditures, market developments and any future acquisition.
Neither we nor any of our subsidiaries are subject to any externally imposed capital requirements, other than those imposed by generally applicable company law requirements.