Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 201

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 201
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 fair value re-measurement of the Gilead subsequent warrant B in 2024. The fair value of the financial liability related to the Gilead subsequent warrant B of €5 thousand on December 31, 2024 (nil fair value of financial liability related to initial warrant B on December 31, 2023) was presented as part of trade and other liabilities in our consolidated statement of financial position and will be re-measured at each reporting period. We refer to note 2 “Summary of significant transactions” in our consolidated financial statements appended to this annual report for more information.
The fair value gain on the current financial investments reflects the exchange differences booked on the money market funds, the interest on the money market funds and the effect of the re-measurement at fair value of the money market funds on December 31, 2024. These re-measurement gains are mainly the result of the positive returns on the EUR denominated money market funds.
For more information on currency exchange fluctuations on our business, please see the section of this annual report titled “Item 11—Quantitative and qualitative disclosures about market risk—Foreign exchange risk.”

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146

Other financial income and expense
The following table summarizes other financial income and expense for the years ended December 31, 2024 and 2023.

                               ​                                   ​    ​        ​        ​       ​        ​      ​   ​      ​    
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​                                                                  ​   Year ended December 31,                    ​   ​          ​
​                                                                  ​   2024             ​       2023                  ​   % Change
​                                                                  ​   ​                   (Euro, in thousands)   ​   ​          ​
Other financial income:                                            ​   ​            ​   ​       ​             ​   ​   ​          ​
Interest income                                                    ​   €       89,378   ​       €        79,290   ​   ​        13%
Discounting effect of non-current R&amp;D incentives receivables   ​   ​        1,132   ​       ​           617   ​   ​        83%
Discounting effect of other non-current liabilities                ​   ​          395   ​       ​           318   ​   ​        24%
Other finance income                                               ​   ​          223   ​       ​            24   ​   ​       845%
Total other financial income                                       ​   ​       91,128   ​       ​        80,