Non-consolidated financial statements
|
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) |
|
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.