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Annual Report 2025

29. Deferred Income

The movement in the non-current and current deferred income is detailed in the table below.

Movement in the non-current and current deferred income

(thousands of €)

Gilead collaboration agreement for filgotinib

Gilead collaboration agreement for drug discovery platform(1)

Other deferred income

Total

On January 1, 2024

26,268

1,299,163

2,032

1,327,463

Of which current portion:

25,054

230,070

1,146

256,270

 

 

 

 

 

Significant financing component(2)

(227)

 

 

(227)

 

 

 

 

 

Revenue recognition of upfront

(21,952)

(230,182)

 

(252,134)

Revenue recognition of milestones

(4,089)

 

 

(4,089)

 

 

 

 

 

Other movements

 

 

339

339

 

 

 

 

 

On December 31, 2024

–

1,068,981

2,371

1,071,352

Of which current portion:

–

230,105

2,371

232,476

 

 

 

 

 

Revenue recognition of upfront

 

(1,068,967)

 

(1,068,967)

 

 

 

 

 

Other movements

 

(14)

(2,339)

(2,353)

 

 

 

 

 

On December 31, 2025

–

–

32

32

Of which current portion:

–

–

32

32

(1)

The upfront received and the outstanding balance comprise the issuance liabilities for the warrants and the upfront payment allocated to the drug discovery platform.

(2)

With regard to the additional consideration received for the extended cost sharing for filgotinib, we assume the existence of a significant financing component reflecting the time value of money on the estimated recognition period.

We refer to note 2 for a detail of the allocation of the transaction price of our collaboration with Gilead and to note 5 and note 7 for a description of our revenue recognition.