Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 379

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 379
---
 not pledged under any of our liabilities.

17. Other non-current assets

Other non-current assets consisted of following items:

                                                                                                   December 31,              
                                                                         2024                                                
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                         (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

Table of Contents

18. Research and Development incentives receivables

The table below illustrates the R& D incentives receivables related captions in our statement of financial position at December 31, 2024 and 2023:

                                               December 31,                                    
                                               2024                                            
 ───────────────────────────────────────────────────────────────────────────────────────────────
                                               (Euro, in thousands)                            
  Non-current R& D incentives receivables      €                         132,729      141,252  
  Current R& D incentives receivables                                     39,882       37,436  
  Total R& D incentives receivables            €                         172,611      178,688  

The table below provides detailed information on the maturity of the non-current R& D incentives receivables reported in our statement of financial position at December 31, 2024.

                                                                          December 31, 2024                                                                              
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                          Maturity date                                                                                  
                                                                          2026                                                                                           
                                                                          (Euro, in thousands)                                                                           
  French non-current R& D incentives receivables - discounted value       €                         11,911       5,974       1,571      —           —            19,456  
  Belgian non-current R& D incentives receivables - discounted value                                21,447      21,088      19,113      17,884      33,741      113