Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 367

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 367
---
 2023; €370.4million in 2022) distributed as follows:

                                December 31,                                                      
                                2024                                                              
 ──────────────────────────────────────────────────────────────────────────────────────────────────
                                                  (Euro, in thousands)                            
  Belgium                       €                 95,686                     56,209       72,087  
  France                                          5                           1,438       20,397  
  The Netherlands                                 239,454                   251,230      255,461  
  Switzerland                                     92                          3,247        4,962  
  Spain                                           —                               —        3,037  
  United States of America                        22,533                     11,660       12,729  
  Other                                           —                               —        1,747  
  Total non-current assets      €                 357,770                   323,784      370,420  

F-34

Table of Contents

7. Total net revenues
SUPPLY REVENUES
These revenues are fully related to the supply of Jyseleca® to Alfasigma under the transition agreement. The related cost of sales are reported on the cost of sales line.
COLLABORATION REVENUES
The following table summarizes details of collaboration revenues for the years ended December 31, 2024, 2023 and 2022 by collaboration and by category of revenue: upfront payments and license fees, reimbursement income, and royalties.
Over time Point in time 2024 2023 2022
(Euro, in (Euro, in (Euro, in
thousands) thousands) thousands)
──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
Recognition of non-refundable upfront payments and license fees € 230,182 230,242 230,423
Gilead collaboration agreement for drug discovery platform Ö 230,182 230,242 230,423
Reimbursement income - - 56
Novartis collaboration agreement for MOR106 Ö - - 56
Royalties 10,604 9,482 10,770
Gilead royalties on Jyseleca Ö 10,604 9,466 10,726
Other royalties Ö - 16 44
Total collaboration revenues € 240,786 239,724 241,249
We recognized€230.2million in revenue in 202