Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 202

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 202
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249   ​   ​        14%
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Other financial expenses:                                          ​   ​            ​   ​       ​             ​   ​   ​          ​
Interest expenses                                                  ​   ​        (911)   ​       ​       (1,770)   ​   ​      (49%)
Other finance charges                                              ​   ​        (759)   ​       ​         (843)   ​   ​      (10%)
Total other financial expense                                      ​   €      (1,670)   ​       €       (2,613)   ​   ​      (36%)
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Interest income was related to interests on treasury bills, term deposits and notice accounts. Interest income increased due to increased interest rates. Other financial income for 2024 also comprise the discounting effect of other non-current liabilities as milestones payables related to the acquisition of subsidiaries.
Interest expenses were mainly related to interests on leases of buildings and cars and to interests on defined benefit obligations. 
Income Taxes
The following table summarizes our tax result for the years ended December 31, 2024 and 2023.

     ​         ​    ​        ​        ​       ​        ​      ​    ​       ​   
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​              ​   Year ended December 31,                    ​   ​      ​     
​              2024                 2023                      ​   % Change     
​              ​   ​                   (Euro, in thousands)   ​   ​      ​     
Current tax    ​   €      (1,301)   ​       €       (5,928)   ​   ​      (78%) 
Deferred tax   ​   ​        3,104   ​       ​       (3,685)   ​   ​      (184%)
Income taxes   ​   €        1,803   ​       €       (9,613)   ​   ​      (119%)
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Current tax, consisting of corporate income taxes, and deferred tax income/loss (-) related to subsidiaries working on a cost plus basis. The decrease in 2024 was primarily due to the re-assessment in 2023 of net deferred tax liabilities and corporate income tax payables as a result of a one-off intercompany transaction.
We refer to note 11 “Income taxes” in our consolidated financial statements appended to this annual report. 
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