Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 207

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 207
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​                                                                                  2024                   2023                   
​                                                                                  ​   (Euro, in thousands)                      
Decrease in cash and cash equivalents (excluding effect of exchange differences)   ​   €      (104,353)   ​      €      (339,785)
Less:                                                                              ​   ​              ​   ​      ​              ​
Net proceeds from capital and share premium increases                              ​   ​              —   ​      ​        (1,770)
Net sale of financial investments                                                  ​   ​      (319,035)   ​      ​       (94,233)
Acquisition of financial assets held at fair value                                 ​   ​         36,880   ​      ​         13,965
Cash out from acquisition of subsidiaries, net of cash acquired                    ​   ​              —   ​      ​          7,000
Cash out from disposals of subsidiaries, net of cash disposed of                   ​   ​          8,949   ​      ​              —
Cash used for other liabilities related to the disposal of subsidiaries            ​   ​          3,598   ​      ​              —
Total operational cash burn                                                        ​   €      (373,961)   ​      €      (414,824)
​
​
The net cash flow used in operating activities for the year ended December 31, 2024 decreased by €85.9 million as compared to the year ended December 31, 2023, mainly caused by higher interest income received, a lower cash out related to taxes and operating costs partly offset by a lower cash in from sales. 
The variance in net cash flow generated from investing activities for the year ended December 31, 2024, can be primarily explained by the net sale of current financial investments of €319.0 million for the year ended December 31, 2024 as compared to the net sale of current financial investments of €94.2 million for the year ended December 31, 2023. For the year ended December 31, 2023 investment income received related to financial investments amounted to €14.8 million as opposed to €29.5 million investment income received related to financial investments for the year ended December 31, 2024. On the other hand we also reported higher investments in (in)tangible fixed assets, which increased from €19.3 million for the year ended December 31, 2023 to €82.1 million for the year ended December 31, 202