27.4.1.1 major classes of assets a reporting entity must disclose separately, either on the balance sheet or in the footnotes, the major classes of assets and liabilities of a discontinued operation for all periods presented Attached to this news release are tables showing the condensed consolidated statements of operations, condensed consolidated balance sheets, condensed consolidated statements of cash flows, reconciliation of adjusted ebitda, adjusted ebitda per tonne, adjusted free cash flow, adjusted net leverage ratio, net income attributable to our common. The objective of the assets held for sale is to separately present the asset to be sold from assets being used by the company in the business
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It helps the users of the financial statement assess the business’s performance and their intention to sell the assets/discontinued operations.
When a discontinued operation is classified as held for sale in the current period, an entity is required to provide, for all periods presented, the discontinued operation’s major classes of assets and liabilities either on the balance sheet itself or in the notes accompanying the financial statements.
Presenting discontinued operations and assets held for sale, and related disclosure requirements as discussed in previous sections, ifrs 5 applies to a range of situations. This article will specifically address discontinued operations. Assets and liabilities of the discontinued operation must be classified separately as held for sale Difference between assets held for sale and discontinued operations discontinued operations refer to a part of a company’s operations (such as a business unit or a product line) that has either been disposed of or classified as held for sale.
Description of the discontinued operation A detailed description of the discontinued operation, including the major classes of assets and liabilities held for sale 4.2 noncurrent assets held for sale and discontinued operations though ifrs accounting standards and u.s Gaap have similar guidance on the accounting for noncurrent assets held for sale and for discontinued operations, there is a special treatment for assets held for distribution under ifrs accounting standards, as shown in the table below.
Additionally, assets held for sale and liabilities associated with those assets are shown separately on the balance sheet
This makes them visually “stand out,” so you can quickly identify them in your analysis. Cash and cash equivalents may be included in a disposal group or component that is classified as an asset held for sale, regardless of whether such an asset meets the definition of a discontinued operation (see section 3.3 for additional considerations related to the presentation of discontinued operations in the statement of cash flows) Accordingly, the “cash and cash equivalents” line. 15.24.1 discontinued operations—definition the definitions of discontinued operations under ifrs and us gaap focus on similar principles and apply to a component of an entity that has either been disposed of or is classified as held for sale.
An operation to be abandoned cannot be treated as an asset held for sale before it has actually been abandoned The operating profit from discontinued operations for the first nine months of 2024, was mainly related to the gain on the sale of the jyseleca® business to alfasigma of €52.3 million Galapagos reported a net loss of €461.3 million for the first nine months of 2025, compared to a net profit of €48.8 million for the first nine months of. As a result, its financial results are now reported separately, and related assets and liabilities are presented as held for sale in the company’s consolidated financial statements.
Cash and cash equivalents, including cash and cash equivalents held for sale, are subtracted from the gaap measure because they could be used to reduce the company's debt obligations
Management believes that net debt is a useful measure to monitor leverage and evaluate the balance sheet.
