Company: NYXH
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001410578-25-000398
Chunk: 9

Company: Nyxoah SA
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 9
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2023, to €0.6 million for the year ended December 31, 2024. The decrease is mainly due to the initiation of a new ERP implementation in 2023.
Selling, General and Administrative Expenses (in aggregate)
Selling, general and administrative expenses (in aggregate) increased by €6.8 million, or 31.3%, from €21.7 million in 2023 to €28.5 million in 2024 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 €2.0 million, or 22%, from €8.7 million in 2023 to €10.7 million in 2024 mainly due to an increase in staff costs to support commercialization of Genio system in Europe and scale up of the Company.
Consulting and Contractors’ fees Expenses. Consulting and contractors’ fees expenses increased by €4.3 million, or 63.2%, from €6.8 million in 2023 to €11.1 million in 2024 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. As from 2024, consulting and contractor fees also include a provision in the amount of €0.7 million recognized under IAS 37 for the estimated future costs related to the replenishment of certain consumable components, reflecting a constructive obligation arising from business practices.
Insurance Fees Expenses. Insurance fees expenses decreased by €0.5 million, or 48%, from €1.0 million for the year ended December 31, 2023, to €0.5 million for the year ended December 31, 2024. The insurances fees expenses decreased mainly due to renegotiation of terms.
Recruitment Fees. Recruitment fees expenses increased by €0.5 million, or 258 %, from €0.2 million for the year ended December 31, 2023, to €0.7 million for the year ended December 31, 2024. The increase is mainly due to increase in staff to support commercialization of Genio system in Europe and scale up of the Company.
Operating Loss
The increase of operating loss from €45.1 million in 2023 to €58.8 million in 2024, or a change of €13.7 million, was mainly due to increases of activities in