Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 407

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 407
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 318 1,209 17
Trade receivables 32,471 17,494 28,194 20
Total financial assets € 3,494,788 3,721,421 4,128,033
Financial liabilities held at fair value through profit or loss
Current financial instruments € 5 - 19 26
Current contingent consideration related to milestones CellPoint - - 8,485 26
Non-current contingent consideration related to milestones CellPoint 20,576 20,972 13,582 26
Financial liabilities at amortized cost
Trade liabilities 64,230 87,966 68,928 26
Lease liabilities 11,722 9,596 21,901 25
Current deferred consideration payable CellPoint - - 6,222 26
Total financial liabilities € 96,533 118,534 119,137
The carrying amounts of trade and other payables and trade and other receivables are considered to be the same as their fair values, due to their short-term nature.
Financial assets held at fair value through other comprehensive income
Financial assets held at fair value through other comprehensive income consisted of equity instruments of non-listed companies.
We have no restrictions on the sale of these equity instruments and the assets are not pledged under any of our liabilities.
The fair value of the equity instruments in the non-listed companies has been determined mainly by reference to the initial transaction price (classified as level 3 in the fair value hierarchy).
Financial assets held at fair value through profit or loss
Financial assets held at fair value through profit or loss consisted of current financial investments and contingent consideration receivable.

F-69

Table of Contents

Current financial investments include money market funds in EUR and USD, which all classify for level 1 fair value measurement.
Liquidity risk
Financial investments and cash and cash equivalents amounted to €3,317.8million on December 31, 2024. Management forecasts our liquidity requirements to ensure that we have sufficient cash to meet operational needs. We have no credit lines. Such forecasting is based on realistic assumptions with regards to royalties, milestone and upfront payments to be received, taking into account our past track record, including the assumption that not all new projects that are being planned will be realized.
All our and cash and cash equivalents have only an insignificant liquidity risk as they are all convertible upon a maximum threemonth notice period and without incurring a significant penalty in normal market circumstances.