Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 466

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 466
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 current assets approximate their fair value.​
The increase in deferred charges mainly related to $15.0 million in R&D funding paid to Adaptimmune which will gradually be released in R&D expenses over the R&D period. ​
We refer to note 5 for more information on the current contingent consideration receivable.​
On December 31, 2024, we had a provision for expected credit losses of €9.6 million, for two disputed invoices. We did not account for a provision for expected credit losses relating to all our other trade and other receivables since we don’t have a history of credit losses and we are not aware of any forward-looking information that could materially influence the credit risk.

21. Non-current and current financial investments
​

                   ​                      ​    ​        ​       ​      ​      ​  
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​                                         ​   December 31,                       
​                                         2024                 2023              
​                                         ​   (Euro, in thousands)               
Non-current financial investments         ​   €      200,182   ​      €      —   
Total non-current financial investments   ​   €      200,182   ​      €      —   
​
​

                 ​                    ​    ​         ​        ​      ​         ​    
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​                                     ​   December 31,                              
​                                     2024                   2023                   
​                                     ​   (Euro, in thousands)                      
Money market funds                    ​   €      1,484,599   ​      €      1,316,805
Treasury bills                        ​   ​        255,078   ​      ​        742,025
Term deposits                         ​   ​      1,313,657   ​      ​      1,458,868
Total current financial investments   ​   €      3,053,334   ​      €      3,517,698
​
The non-current financial investments refer to a new term account that was acquired in December 2024 with a maturity of 18 months. In February 2025, the term account was terminated as a result of the planned Separation.. We refer to note 37 for more information.Term deposits as part of current financial investments refer to non-cancellable term deposits with a maturity exceeding three months from the acquisition date. Our portfolio of treasury bills contains only AAA rated paper, issued by Belgium, France and Europe. Our money market funds portfolio consists of AAA short-term money market funds with