Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 431

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 431
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 effect of IFRS 18 as mentioned below.

F-15

The following amendments are effective for the period beginning January 1, 2025:​
●Amendments to IAS 21 The effect of changes in Foreign Exchange Rates: Lack of Exchangeability.​
The following amendments are effective for the period beginning January 1, 2026:​

●   Amendments to IFRS 9 and IFRS 7: Classification and Measurement of Financial Instruments
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●   Annual Improvements: Volume 11
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●   Amendments to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity
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​
The following amendments are effective for the period beginning January 1, 2027:
●   IFRS 18: Presentation and Disclosure in Financial Statements
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●   IFRS 19: Subsidiaries without Public Accountability: Disclosures
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We are currently assessing the effect of these new accounting standards and amendments.​
IFRS 18 Presentation and disclosure in Financial Statements, which was issued by the IASB in April 2024 supersedes IAS 1 and will result in major consequential amendments to IFRS Accounting Standards including IAS8 Basis of Preparation of Financial Statements (renamed from Accounting Policies, Changes in Accounting Estimates and Errors). Even though IFRS 18 will not have any effect on the recognition and measurement of items in the consolidated financial statements, it is expected to have a significant effect on the presentation and disclosure of certain items. These changes include categorization and sub-totals in the statement of profit or loss, aggregation/disaggregation and labelling of information, and disclosure of management-defined performance measures.IFRS 19 doesn’t apply to Galapagos NV as it is a parent.​
BUSINESS COMBINATIONS
Business combinations are accounted for using the acquisition method. In the statement of financial position, all identifiable assets, liabilities and contingent liabilities are initially recognized at their fair value at the acquisition date. The results of acquired operations are included in our consolidated income statement from the date on which control is obtained. Any contingent consideration to be transferred by us will be recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration, which is deemed to be an asset or liability, will be recognized in our consolidated income statement. The excess of the fair value of the total purchase consideration transferred over the fair value of