Non-consolidated financial statements
|
Year ended 31 December |
|
|---|---|---|
(thousands of €) |
2021 |
2020 |
Turnover |
503,390 |
558,798 |
Inventory semi-finished and finished goods : increase (decrease) |
1,376 |
- |
Internally generated intangible assets |
392,744 |
460,802 |
Other operating income |
18,535 |
17,407 |
|
|
|
Operating income |
916,046 |
1,037,007 |
|
|
|
Raw materials, consumables and goods for resale |
(13,058) |
(10,349) |
Services and other goods |
(500,012) |
(543,041) |
Remuneration, social security costs and pensions |
(70,360) |
(59,947) |
Depreciation, impairment and other amounts written off on constitution costs, intangible and tangible assets |
(401,835) |
(467,807) |
Increase (-)/decrease in provisions |
2,317 |
(11,210) |
Other operating charges |
(120,704) |
(53,495) |
Non-recurring operating costs |
(4,068) |
(105) |
|
|
|
Operating loss |
(191,674) |
(108,947) |
|
|
|
Finance income |
85,765 |
25,787 |
Non-recurring finance income |
33,471 |
5,476 |
Finance cost |
(28,125) |
(139,863) |
Non-recurring finance cost |
(12,330) |
- |
|
|
|
Loss before tax |
(112,893) |
(217,548) |
Taxes |
20,156 |
21,577 |
|
|
|
Loss for the year |
(92,737) |
(195,971) |
|
|
|
Loss brought forward |
(276,499) |
(80,528) |
|
|
|
Accumulated losses to be carried forward |
(369,237) |
(276,499) |
|
31 December |
|
|---|---|---|
(thousands of €) |
2021 |
2020 |
Assets |
|
|
|
|
|
Non-current assets |
199,804 |
258,820 |
Intangible fixed assets |
48,290 |
54,806 |
Tangible fixed assets |
15,697 |
14,544 |
Financial fixed assets |
43,317 |
61,183 |
Non-current trade and other receivables |
92,500 |
128,287 |
|
|
|
Current assets |
4,920,628 |
5,340,351 |
Inventories |
20,361 |
355 |
Trade and other receivables |
209,445 |
207,387 |
Deferred costs |
8,677 |
9,723 |
Accrued income |
847 |
572 |
Cash and cash equivalents |
4,681,298 |
5,122,314 |
Total assets |
5,120,433 |
5,599,171 |
|
|
|
Equity and liabilities |
|
|
|
|
|
Equity |
2,639,924 |
2,729,348 |
Share capital and reserves |
354,582 |
353,819 |
Share premium account |
2,654,579 |
2,652,028 |
Accumulated losses |
(369,237) |
(276,499) |
|
|
|
Liabilities |
2,480,508 |
2,869,823 |
Non-current liabilities |
10,385 |
11,211 |
Provisions |
8,885 |
11,211 |
Other non-current liabilities |
1,500 |
- |
Current liabilities |
2,470,123 |
2,858,613 |
Trade and other payables |
223,911 |
217,868 |
Tax, payroll and social security liabilities |
16,705 |
12,780 |
Accrued costs |
3,100 |
1,149 |
Deferred income |
2,226,407 |
2,626,816 |
Total equity and liabilities |
5,120,433 |
5,599,171 |
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 negative result. The financial year 2021 closed with a loss of €92.7 million compared to a loss of €196.0 million in 2020. The non-consolidated annual accounts of Galapagos NV show accumulated losses of €369.2 million as at 31 December 2021; we refer to the Going concern statement for justification for the application of the valuation rules under the going concern assumption.
Following common practice, Galapagos NV has given customary representations and warranties which are capped and limited in time.