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Annual Report 2025
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Home
At a Glance
Letter from the Chair of the Board
Letter from the CEO
2025 Achievements and Post-Period Events
2025 Financial Highlights
The Galapagos Shares in 2025
A New Strategic Direction
About this Report
Portfolio
R&D Pipeline
Immunology
Oncology
Sustainability Statements
General Disclosures
Environmental Information
Climate Change
EU Taxonomy Statement
EU Taxonomy Tables
Social Information
Own Workforce
Patients, Consumers and End-Users
Governance Information
Business Conduct
Entity Specific Information
Annexes
Advancing the United Nations (UN) Sustainable Development Goals (SDGs)
Disclosure requirements in ESRS covered by the Sustainability Statement
EU Legislation Datapoints
Corporate Governance
Corporate Governance Policies
Board of Directors
Committees
Executive Committee
Share Capital and Shares
Shareholders
Remuneration Policy
Remuneration Report
Introduction
Board of Directors
Executive Committee
Equity Components of the Remuneration
Joining Arrangements
Evolution of Remuneration
Pay-Ratio
Minimum Share Ownership
Contractual Provisions Regarding Compensation for Severance for Executive Committee Members
Severance Payments
Claw-Back and Malus
Deviations from the Remuneration Policy
Conflict of Interests and Related Parties
Code of Conduct
Statement by the Board of Directors
Risk Management
Risk Management and Internal Control
Detailed Description of the Risk Factors in Form 20-F
Risks Related to Our Financial Position and Need for Additional Capital
Risks Related to Our Business Development Strategy
Risks Related to Product Development and Regulatory Approval
Risks related to Commercialization of Future Products
Risks Related to Our Reliance on Third Parties
Risks Related to Our Intellectual Property
Risks Related to Our Competitive Position
Risks Related to Our Organization, Structure and Operation
Market Risks Relating to the Galapagos Shares
General Statement about Galapagos’ Risks
Financial Statements
Consolidated Financial Statements
Statements of Income and Comprehensive Income/Loss (-)
Statements of Financial Position
Cash Flow Statements
Statements of Changes in Equity
Notes to the Consolidated Financial Statements
Notes 1-10
1.
General Information
2.
Summary of Significant Transactions
3.
Material Accounting Policies
4.
Critical Accounting Judgments and Key Sources of Estimation Uncertainty
5.
Discontinued Operations and Assets Held for Sale
6.
Segment Information
7.
Total Net Revenues from Our Continuing Operations
8.
Operating costs and Other Operating Income
9.
Staff Costs
10.
Fair Value Adjustments, Net Currency Exchange Differences and Other Financial Income/Expenses
Notes 11-20
11.
Income Taxes
12.
Earnings per Share
13.
Goodwill
14.
Intangible Assets Other than Goodwill
15.
Property, Plant and Equipment
16.
Equity Investments
17.
Convertible Loan
18.
Other Non-Current Assets
19.
Research and Development Incentives Receivables
20.
Inventories
Notes 21-30
21.
Trade and Other Receivables and Other Current Assets
22.
Non-Current and Current Financial Investments
23.
Cash and Cash Equivalents
24.
Share Capital and Other Reserves
25.
Deferred Tax
26.
Lease Liabilities
27.
Trade and Other Liabilities and Other Non-Current Liabilities
28.
Provisions
29.
Deferred Income
30.
Note to the Cash Flow Statement
Notes 31-37
31.
Off-Balance Sheet Arrangements
32.
Share-Based Payments
33.
Related Parties
34.
Consolidated Companies as of December 31, 2025
35.
Financial Risk Management
36.
Statutory Auditor’s Remuneration
37.
Events after Balance Sheet Date
Overview Statutory Results
Auditor’s Report
Report of the Statutory Auditor
Report of the Statutory Auditor
(Sustainability Statements)
At a Glance
Letter from the Chair of the Board
Letter from the CEO
2025 Achievements and Post-Period Events
2025 Financial Highlights
The Galapagos Shares in 2025
A New Strategic Direction
About this Report
Portfolio
R&D Pipeline
Immunology
Oncology
Sustainability Statements
General Disclosures
Environmental Information
Climate Change
EU Taxonomy Statement
EU Taxonomy Tables
Social Information
Own Workforce
Patients, Consumers and End-Users
Governance Information
Business Conduct
Entity Specific Information
Annexes
Advancing the United Nations (UN) Sustainable Development Goals (SDGs)
Disclosure requirements in ESRS covered by the Sustainability Statement
EU Legislation Datapoints
Corporate Governance
Corporate Governance Policies
Board of Directors
Committees
Executive Committee
Share Capital and Shares
Shareholders
Remuneration Policy
Remuneration Report
Introduction
Board of Directors
Executive Committee
Equity Components of the Remuneration
Joining Arrangements
Evolution of Remuneration
Pay-Ratio
Minimum Share Ownership
Contractual Provisions Regarding Compensation for Severance for Executive Committee Members
Severance Payments
Claw-Back and Malus
Deviations from the Remuneration Policy
Conflict of Interests and Related Parties
Code of Conduct
Statement by the Board of Directors
Risk Management
Risk Management and Internal Control
Detailed Description of the Risk Factors in Form 20-F
Risks Related to Our Financial Position and Need for Additional Capital
Risks Related to Our Business Development Strategy
Risks Related to Product Development and Regulatory Approval
Risks related to Commercialization of Future Products
Risks Related to Our Reliance on Third Parties
Risks Related to Our Intellectual Property
Risks Related to Our Competitive Position
Risks Related to Our Organization, Structure and Operation
Market Risks Relating to the Galapagos Shares
General Statement about Galapagos’ Risks
Financial Statements
Consolidated Financial Statements
Statements of Income and Comprehensive Income/Loss (-)
Statements of Financial Position
Cash Flow Statements
Statements of Changes in Equity
Notes to the Consolidated Financial Statements
Notes 1-10
1.
General Information
2.
Summary of Significant Transactions
3.
Material Accounting Policies
4.
Critical Accounting Judgments and Key Sources of Estimation Uncertainty
5.
Discontinued Operations and Assets Held for Sale
6.
Segment Information
7.
Total Net Revenues from Our Continuing Operations
8.
Operating costs and Other Operating Income
9.
Staff Costs
10.
Fair Value Adjustments, Net Currency Exchange Differences and Other Financial Income/Expenses
Notes 11-20
11.
Income Taxes
12.
Earnings per Share
13.
Goodwill
14.
Intangible Assets Other than Goodwill
15.
Property, Plant and Equipment
16.
Equity Investments
17.
Convertible Loan
18.
Other Non-Current Assets
19.
Research and Development Incentives Receivables
20.
Inventories
Notes 21-30
21.
Trade and Other Receivables and Other Current Assets
22.
Non-Current and Current Financial Investments
23.
Cash and Cash Equivalents
24.
Share Capital and Other Reserves
25.
Deferred Tax
26.
Lease Liabilities
27.
Trade and Other Liabilities and Other Non-Current Liabilities
28.
Provisions
29.
Deferred Income
30.
Note to the Cash Flow Statement
Notes 31-37
31.
Off-Balance Sheet Arrangements
32.
Share-Based Payments
33.
Related Parties
34.
Consolidated Companies as of December 31, 2025
35.
Financial Risk Management
36.
Statutory Auditor’s Remuneration
37.
Events after Balance Sheet Date
Overview Statutory Results
Auditor’s Report
Report of the Statutory Auditor
Report of the Statutory Auditor
(Sustainability Statements)
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