Non-consolidated financial statements

Non-consolidated financial statements
Income statement

 

Year ended 31 December

(thousands of €)

2019

2018

 

 

 

Turnover

902,817

218,961

Internally generated intangible assets

399,874

284,964

Other operating income

21,655

9,224

 

 

 

Operating income

1,324,346

513,149

 

 

 

Raw materials, consumables and goods for resale

(7,522)

(6,215)

Services and other goods

(444,088)

(299,814)

Remuneration, social security costs and pensions

(52,231)

(33,400)

Depreciation, impairment and other amounts written off on constitution costs, intangible and tangible assets

(403,311)

(305,723)

Other operating charges

(23,301)

(8,281)

Non-recurring operating costs

(38)

(1,160)

 

 

 

Operating profit/loss (-)

393,855

(141,443)

 

 

 

Finance income

27,511

35,743

Finance cost

(63,967)

(21,275)

 

 

 

Profit /loss (-) before taxes

357,399

(126,976)

 

 

 

Taxes

21,619

11,286

 

 

 

Profit/loss (-) for the year

379,018

(115,690)

 

 

 

Loss brought forward

(459,547)

(343,858)

 

 

 

Accumulated losses to be carried forward

(80,528)

(459,547)

Balance sheet

 

31 December

(thousands of €)

2019

2018

Assets

 

 

 

 

 

Non-current assets

85,005

67,704

Intangible fixed assets

11,137

5,576

Tangible fixed assets

9,507

8,958

Financial fixed assets

64,361

53,170

 

 

 

Current assets

5,918,486

1,358,360

Inventories

252

266

Trade and other receivables

150,838

79,260

Deferred costs

4,103

2,406

Accrued income

3,710

2,457

Cash and cash equivalents

5,759,583

1,273,970

Total assets

6,003,491

1,426,063

 

 

 

Equity and liabilities

 

 

 

 

 

Equity

2,897,031

1,172,722

Share capital and reserves

349,789

294,600

Share premium account

2,627,771

1,337,670

Accumulated losses

(80,528)

(459,547)

 

 

 

Liabilities

3,106,459

253,341

Non-current liabilities

3,361

857

Other non-current liabilities

3,361

857

Current liabilities

3,103,098

252,484

Trade and other payables

227,243

137,120

Tax, payroll and social security liabilities

12,061

6,406

Accrued costs

1,089

766

Deferred income

2,862,705

108,192

Total equity and liabilities

6,003,491

1,426,063

The non-consolidated annual accounts of Galapagos NV were prepared in accordance with Belgian accounting rules as well as with the legal and regulatory requirements. They show a positive result. The financial year 2019 closed with a profit of €379.0 million compared to a loss of €115.7 million in 2018. The non-consolidated annual accounts of Galapagos NV show accumulated losses of €80.5 million as at 31 December 2019; we refer to the Going concern statement for justification for the application of the valuation rules under the going concern assumption.