Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 409

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 409
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 our main collaboration partner Gilead in U. S. dollars and acquire some consumables and materials in U. S. dollars, Swiss Francs and GB Pounds.
To limit this risk, we attempt to align incoming and outgoing cash flows in currencies other than EUR. In addition, contracts closed by our different entities are mainly in the functional currencies of that entity, except for the collaboration agreement signed with Gilead for which payments are denominated in U. S. dollars.
The exchange rate risk in case of a10% change in the exchange rate amounts to:
December 31,
2024
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Net book value (Euro, in thousands)
Increase in Euros - U. S. Dollars € ( 70,387) ( 78,013) ( 85,140)
Increase in Euros - GB Pounds 31 666 960
Increase in Euros - CH Francs 280 385 557
The exchange rate risk on the U. S. dollar is primarily related to our cash and cash equivalents and financial investments held in U. S. dollars.
Capital risk factors
We manage our capital to safeguard that we will be able to continue as a going concern. At the same time, we want to ensure the return to our shareholders through the results from our research and development activities.
Our capital structure consists of financial investments, cash and cash equivalents, and equity attributed to the holders of our equity instruments, such as capital, reserves and results carried forward, as mentioned in the consolidated statement of changes in equity.
We manage our capital structure and make the necessary adjustments in the light of changes of economic circumstances, the risk characteristics of underlying assets and the projected cash needs of the current research and development activities.
The adequacy of the capital structure will depend on many factors, including scientific progress in the research and development programs, the magnitude of those programs, the commitments to existing and new clinical CROs, the ability to establish new alliance or collaboration agreements, the capital expenditures, the new commercial activities, market developments and any future acquisition.
Neither we nor any of our subsidiaries are subject to any externally imposed capital requirements, other than those imposed by generally applicable company law requirements. 36. Auditor’s remuneration
The statutory auditor’s fees for carrying out its mandate at group level amounted to €1,063.9thousand in 2024 which includes audit services for an amount of €203.3thousand related to the Alfasigma transaction