Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 372

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 372
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F-39

Table of Contents

11. Income taxes

The following table summarizes the income taxes recognized in profit or loss for the years ended December 31, 2024, 2023 and 2022.

                    Year ended December 31,                                            
                    2024                                                               
 ───────────────────────────────────────────────────────────────────────────────────────
                    (Euro, in thousands)                                               
  Current tax       €                            ( 1,301)      ( 5,928)      ( 1,738)  
  Deferred tax                                      3,104      ( 3,685)         1,166  
  Income taxes      €                               1,803      ( 9,613)        ( 572)  

Current tax, consisting of corporate income taxes, and deferred tax income/cost ( - ) related to subsidiaries of our continuing operations working on a cost plus basis. The decrease in 2024 as compared to 2023 was primarily due to the re-assessment in 2023 of net deferred tax liabilities and corporate income tax payables as a result of a one-off intercompany transaction.

TAXES RECOGNIZED IN PROFIT OR LOSS

For the purpose of the disclosure below corporation tax was calculated at25% (2023 and 2022: 25%) - which is the tax rate applied in Belgium - on the estimated assessable result for the year. The applied tax rate for other territorial jurisdictions was the tax rate that is applicable in these respective territorial jurisdictions on the estimated taxable result of the accounting year.

                                                                                                                                               Year ended December 31,                                              
                                                                                                                                               2024                                                                 
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                                                                               (Euro, in thousands)                                                 
  Profit/loss (-) before tax                                                                                                                   €                            ( 3,085)          5,625      ( 70,849)  
  Income tax debit/credit (-), calculated using the Belgian statutory tax rate on the accounting income/loss (-) before tax (theoretical)                                     ( 771)          1,406      ( 17,712)  
  Tax income (-)/expenses in income statement (effective)                                                                                                                   ( 1,803)          9,613            572  
  Difference in tax expense/income to explain                                                                                                  €                            ( 1,032)          8,207