Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 378

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 378
---
 for more information. The sales and disposals of 2024 mainly relate to the disposal of rented cars.
We refer to note 25 Lease liabilities for a detail of the lease liabilities related to these right-of-use assets.
There arenopledged items of property, plant and equipment. There are also no restrictions in use on any items of property, plant and equipment.

F-44

Table of Contents

16. Equity investments

                                                                      December 31,              
                                            2024                                                
 ────────────────────────────────────────────────────────────────────────────────────────────────
                                            (Euro, in thousands)                                
  Cost at January 1                         €                               13,965           —  
  Acquisitions of the year                                                  36,880      13,965  
  Cost at December 31                                                       50,845      13,965  
  Fair value adjustment at January 1                                        ( 390)           —  
  Fair value adjustment of the year                                          2,485      ( 390)  
  Fair value adjustment at December 31                                       2,095      ( 390)  
  Net book value at December 31             €                               52,941      13,575  

On December 31, 2023, we had $15.0 million of equity investment in a non-listed company.

On January 31, 2024, we participated for $40.0 million in the Series C financing round of Frontier Medicines, a pioneer in oncology with a unique FrontierTM platform based on chemoproteomics, covalent chemistry and machine learning to unlock access to formerly "undruggable" cancer targets and a pipeline of potential best-in-class assets that fit with our precision oncology R& D approach. This equity instrument is presented on the line “ Equity investments” in our statement of financial position and is measured at fair value through other comprehensive income.

As of December 31, 2024, financial assets held at fair value through other comprehensive income consists of equity instruments of non-listed companies. The fair value of these equity instruments, without readily available determinable fair values (classified as level 3 fair valuation hierarchy), are estimated by management based on the cost of investment and adjusted as necessary for impairment and revaluations with reference to relevant available information and recent financing rounds. Per December 31, 2024 no fair value change was recognized except for the currency exchange rate impact.

We have no restrictions on the sale of these equity instruments and the assets are