Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 406

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 406
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armatica Ltd.)                        United Kingdom                            0%      - 100%                      100%                100%  

There are no significant restrictions on the group’s ability to access or use assets and settle liabilities of one of the group’s subsidiaries.

In December 2024, we signed a share purchase agreement regarding the shares of Galapagos Real Estate Belgium BV. We expect closing of this transaction to occur by March 31, 2025.

On January 7, 2025, we incorporated Galapagos (Shanghai) Bioscience Co., Ltd., in the People’sRepublic of China, and on February 14, 2025 we incorporated XYZ SpinCo NV.

35. Financial risk management

Financial risk factors

Our financial risks are managed centrally. Our finance department coordinates the access to national and international financial markets and considers and manages continuously the financial risks concerning our activities. These relate to the following financial markets risks: credit risk, liquidity risk, currency risk and interest rate risk. Our interest rate risk is limited because we have no financial debt. In case of decreasing interest rates we will face a reinvestment risk on our strong cash and cash equivalents and financial investments balance. We do not buy or trade financial instruments for speculative purposes.

F-68

Table of Contents

Categories of financial assets and liabilities (the below table does not contain the financial assets and liabilities included in the disposal group held for sale - reference is made to note 5 for more information):
December 31,
2024 Notes
────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
(Euro, in thousands)
Financial assets held at fair value through other comprehensive income
Equity instruments € 52,941 - - 16
Financial assets held at fair value through profit or loss
Equity instruments - 13,575 - 16
Contingent consideration receivable 47,207 - - 5
Financial investments 1,484,599 1,316,805 1,292,514 21
Financial assets at amortized cost
Financial investments 1,768,917 2,200,893 2,293,431 21
Escrow account 41,163 - - 5
Cash and cash equivalents 64,239 166,803 508,117 22
Restricted cash (current and non-current) 1,985 5,533 4,569 17
Other non-current assets 1,266