Company: NYXH
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001410578-25-000398
Chunk: 11

Company: Nyxoah SA
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 11
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 the year ended December 31, 2023. The increase is mainly due to the payment for in-licensing agreement with Vanderbilt University during 2023. 

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IT Expenses. IT expenses increased by €1.8 million, or 100%, from €0.0 million for the year ended December 31, 2022, to €1.8 million for the year ended December 31, 2023. The increase is mainly due to the start of a new ERP implementation.
Selling, General and Administrative Expenses (in aggregate)
Selling, general and administrative expenses (in aggregate) increased by €2.8 million, or 15 %, from €18.9 million in 2022 to €21.7 million in 2023 due to the factors discussed below with respect to each component of selling, general and administrative expenses (in aggregate).
Staff costs Expenses. Staff costs expenses increased by €0.9 million, or 12 %, from €7.8 million in 2022 to €8.7 million in 2023 mainly due to an increase in staff costs to support commercialization of Genio system in Europe and scale up of the Company in legal, finance, tax and IT matters.
Consulting and contractors’ fees Expenses. Consulting and contractors’ fees expenses increased by €2.3 million, or 50%, from €4.5 million in 2022 to €6.8 million in 2023 mainly due mainly due to an increase in consulting and contractors’ fees costs to support commercialization of Genio system in Europe and scale up of the Company in legal, finance, tax and IT matters.
Legal fee Expenses. Legal fee expenses decreased by € 0.3 million, or 25%, from €1.0 million for the year ended December 31, 2022, to €0.8 million for the year ended December 31, 2023. This decrease is mainly due to transaction costs for an amount of €494,000 related to the shelf registration and “at-the-market” offering (the “ATM”) in 2022.
Insurance fees Expenses. Insurance fees expenses decreased by € 0.5 million, or 35%, from €1.5 million for the year ended December 31, 2022, to €1.0 million for the year ended December 31, 2023. The insurances fees expenses decreased mainly due to renegotiation of terms.
IT Expenses. IT expenses increased by