Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 489

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 489
---
 of non-listed companies. We have no restrictions on the sale of these equity instruments and the assets are not pledged under any of our liabilities. The fair value of the equity instruments in the non-listed companies has been determined mainly by reference to the initial transaction price (classified as level 3 in the fair value hierarchy).Financial assets held at fair value through profit or loss
Financial assets held at fair value through profit or loss consisted of current financial investments and contingent consideration receivable.

F-69

Current financial investments include money market funds in EUR and USD, which all classify for level 1 fair value measurement. Liquidity riskFinancial investments and cash and cash equivalents amounted to €3,317.8 million on December 31, 2024. Management forecasts our liquidity requirements to ensure that we have sufficient cash to meet operational needs. We have no credit lines. Such forecasting is based on realistic assumptions with regards to royalties, milestone and upfront payments to be received, taking into account our past track record, including the assumption that not all new projects that are being planned will be realized.All our and cash and cash equivalents have only an insignificant liquidity risk as they are all convertible upon a maximum three month notice period and without incurring a significant penalty in normal market circumstances.Credit riskThe term “credit risk” refers to the risk that counterparty will default on its contractual obligations resulting in financial loss for us.We grant credit to our clients in the framework of our normal business activities. Usually, we require no pledge or other collateral to cover the amounts due. All our receivables are considered collectable, except for two invoices for a total amount of €9.6 million, for which we recorded a provision for expected credit losses.We did not account for a provision for expected credit losses relating to all our other trade and other receivables given that there is no history of material credit losses, nor does forward looking information reveals any potential risks and due to the high quality nature of our customers.Aging balance of receivables that are due, but that are still considered collectable:​

        ​            ​   ​     ​    ​    ​     ​    ​    ​     ​ 
-----------------------------------------------------------------
​                    ​   December 31,                            
​                    2024           2023            2022         
​                    ​   (Euro, in thousands)                    
60 - 90 days         ​   €    552   ​    €      3   ​    €    424
90 - 120 days        ​   ​