​

​

Year ended December 31,

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(Euro, in thousands)

​

​

​

​

​

​

​

​

​

​

Profit/loss (-) before tax

​

€

300,871

​

€

(3,085)

​

€

5,625

Income tax debit/credit (-), calculated using the Belgian statutory tax rate on the accounting income/loss (-) before tax (theoretical)

​

​

75,218

​

​

(771)

​

​

1,406

Tax income (-)/expenses in income statement (effective)

​

​

(18,621)

​

​

(1,803)

​

​

9,613

Difference in tax expense/income to explain

​

€

(93,839)

​

€

(1,032)

​

€

8,207

​

​

​

​

​

​

​

​

​

​

Effect of tax rates in other jurisdictions

​

€

(2,187)

​

€

(132)

​

€

(94)

Effect of non-taxable income

​

​

(3,774)

​

​

(5,247)

​

​

(6,752)

Effect of share based payment expenses without tax impact

​

​

6,092

​

​

4,399

​

​

9,157

Effect of expenses/income (-) not subject to tax

​

​

(891)

​

​

52

​

​

(5)

Effect of non tax-deductible expenses

​

​

3,472

​

​

1,117

​

​

1,549

Effect of recognition of previously non-recognized deferred tax assets

​

​

—

​

​

15

​

​

(81)

Effect of tax losses (utilized) reversed

​

​

(296)

​

​

—

​

​

(267)

Effect of under or over provision in prior periods

​

​

336

​

​

13

​

​

(722)

Effect of non-recognition of deferred tax assets

​

​

(6,986)

​

​

(1,338)

​

​

34,339

Effect of derecognition of previously recognized deferred tax assets

​

​

827

​

​

89

​

​

1,062

Effect of use of innovation income deduction

​

​

(90,432)

​

​

—

​

​

(29,979)

Total explanations

​

€

(93,839)

​

€

(1,032)

​

€

8,207