Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 205

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 205
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 focused strategy and optimized capital allocation, We will seek partners for our small molecule assets.
Completion of the Separation is contingent upon the approval of the partial demerger by an Extraordinary Shareholders’ Meeting of Galapagos, as well as certain other customary conditions. The Separation is expected to occur by mid-2025. 
For more information on our policies regarding financial instruments, please see “Note 3—Material accounting policies—Financial instruments” included in our consolidated financial statements appended to this annual report.
Cash flows
 The working capital is sufficient for our present requirements.
Comparison for the years ended December 31, 2024 and 2023
The following table summarizes the results of our audited consolidated statement of cash flows for the years ended December 31, 2024 and 2023.

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​                                                                  2024                2023                            Variance        
​                                                                  ​   ​                    (Euro, in thousands)   ​   ​              ​
Cash and cash equivalents at beginning of the period               ​   €     166,810   ​       €         508,117   ​   €      (341,307)
Net cash flows used in operating activities                        ​   ​   (320,026)   ​       ​       (405,970)   ​   ​         85,944
Net cash flows generated from investing activities                 ​   ​     220,597   ​       ​          71,186   ​   ​        149,411
Net cash flows used in financing activities                        ​   ​     (4,924)   ​       ​         (5,001)   ​   ​             77
Effect of exchange rate differences on cash and cash equivalents   ​   ​       1,782   ​       ​         (1,522)   ​   ​          3,304
Cash and cash equivalents at end of the period                     ​   €      64,239   ​       €         166,810   ​   €      (102,571)
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​                                                                          2024                2023                            Variance        
​                                                                          ​   ​                    (Euro, in thousands)   ​   ​              ​
Financial investments at end of the period                                 ​   €