Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 464

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 464
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 to formerly "undruggable" cancer targets and a pipeline of potential best-in-class assets that fit with our precision oncology R&D approach. This equity instrument is presented on the line “Equity investments” in our statement of financial position and is measured at fair value through other comprehensive income. 
As of December 31, 2024, financial assets held at fair value through other comprehensive income consists of equity instruments of non-listed companies. The fair value of these equity instruments, without readily available determinable fair values (classified as level 3 fair valuation hierarchy), are estimated by management based on the cost of investment and adjusted as necessary for impairment and revaluations with reference to relevant available information and recent financing rounds. Per December 31, 2024 no fair value change was recognized except for the currency exchange rate impact.
We have no restrictions on the sale of these equity instruments and the assets are not pledged under any of our liabilities. 
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17. Other non-current assetsOther non-current assets consisted of following items:​

                                ​                                   ​   ​    ​       ​      ​      ​       ​   
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​                                                                   ​   ​   ​                      December 31,
​                                                                       2024               2023                
​                                                                   ​   ​   (Euro, in thousands)               
Non-current restricted cash                                         ​   ​   €      1,985   ​      €       5,533
Non-current portion of upfront payment to NovAlix                   ​   ​   ​      2,580   ​      ​       4,656
Non-current portion of advance related to the NovAliX transaction   ​   ​   ​      2,877   ​      ​       5,563
Other non-current assets                                            ​   ​   ​      1,266   ​      ​         318
Total other non-current assets                                      ​   ​   €      8,708   ​      €      16,070
​
We refer to note 29 “Details of the NovAlix transaction” for more information related to the upfront payment and the advance.
​

F-45

18. Research and Development incentives receivablesThe table below illustrates the R&D incentives receivables related captions in our statement of financial position at December 31, 2024 and 2023:
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​                                            ​   December 31,                          
​                                            2024