Nyxoah SA

Registration Form • May 12, 2023

40					1	EUR
NAT.	Filing date		N°. 0817.149.675	P.	U.	D.			C-c 1
	ANNUAL ACCOUNTS AND OTHER DOCUMENTS TO BE FILED IN ACCORDANCE WITH THE BELGIAN COMPANIES AND ASSOCIATIONS CODE
		IDENTIFICATION DETAILS (at the filing date)
NAME:	NYXOAH
Legal form:	NV
Address:	Rue Edouard Belin							N°.	12
Postal code:	1435		Town: Mont-Saint-Guibert
Country: Belgium Register of legal persons - commercial court: Brabant Wallon 1 Website :
0817.149.675 Company registration number
10/10/2022 DATE of filing the most recent document mentioning the date of publication of the deed of incorporation and of the deed of amendment of the articles of association.
2 ANNUAL ACCOUNTS IN EURO (2 decimals)
				approved by the general meeting of					14/06/2023
regarding the period from 01/01/2022 to 31/12/2022
Preceding period from 01/01/2021 to 31/12/2021
3 The amounts for the preceding period are are not identical to the ones previously published. /
Total number of pages filed: 47 Numbers of the sections of the standard model form not filed because they serve no useful purpose: 6.2.2, 6.2.3, 6.2.4, 6.2.5, 6.3.1, 6.3.4, 6.4.2, 6.5.2, 6.8, 6.17, 6.20, 7, 8, 9, 11, 12, 13, 14, 15

Signature (name and position) Olivier Taelman Managing Director

Signature (name and position)

Optional mention. 1

If necessary, change to currency in which the amounts are expressed. 2

³ Strike out what does not apply.

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS AND DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS

COMPLETE LIST with surname, first names, profession, place of residence (address, number, postal code and town) and position within the company

Taub Robert

Title : Delegated director Mandate : 21/09/2020- 01/04/2025 Kleomenous 12, box TK, 10675 Athenes - Kolonaki, Greece

Hambrecht Jürgen

Title : Director Mandate : 21/09/2020- 01/04/2025 Römerweg 36, 6734 Neustadt, Germany

Rakin Kevin

Title : Director Mandate : 21/09/2020- 01/04/2025 Side Hill Road 14, CT06880 Westport, United States of America

Ernst & Young Réviseurs d'Entreprises CALL 0446.334.711

Title : Auditor, Lidmaatschapsnummer : B00160 De Kleetlaan 2, 1831 Diegem, Belgium

Mandate : 08/06/2022- 11/06/2025

Vertegenwoordigd door :

D'Addario Carlo- Sébastien Company auditor, Lidmaatschapsnummer : A02506 De Kleetlaan 2 , 1831 Diegem, Belgium 1.

Deyo Don

Title : Director Mandate : 21/09/2020- 08/06/2022 Woodland Drive 598, MN55115 Mahomedi, United States of America

Janssen Jan

Title : Director Mandate : 21/09/2020- 08/06/2022 Killaeton Street 206, Saint I Nouvelles-Galles du Sud, Australia

Gianello Pierre

Title : Director Mandate : 21/09/2020- 01/04/2025 Avenue de la Rochefoucauld 9, 1330 Rixensart, Belgium

JOHNSON-MILS Rita Title : Director Mandate : 27/08/2021- 01/04/2025 Governors Way 235, TN 3702 Brentwood, United States of America

LIST OF DIRECTORS, BUSINESS MANAGERS AND AUDITORS (continued from previous page)

Taelman Olivier

Title : Director Mandate : 21/09/2020- 01/04/2025 Stokstraat 43, 3800 Zepperen, Belgium

Kirby Virginia M.

Title : Director Mandate : 08/06/2022- 01/04/2025 West Bald Eagle Blvd 5636, 55110 White Bear Lake, United States of America

Cohen Raymond W.

Mandate : 08/06/2022- 18/10/2022

Title : Director Dean Martin Dr 4471, 89103 Las Vegas, United States of America

DECLARATION REGARDING A COMPLIMENTARY REVIEW OR CORRECTION ASSIGNMENT

The managing board declares that not a single audit or correction assignment has been given to a person not authorized to do so by law, pursuant to articles 34 and 37 of the law of 22 April 1999 concerning accounting and tax professions.

The annual accounts were / were not * or corrected by an external accountant or by a company auditor who is not the statutory auditor.

If affirmative, should be mentioned hereafter: surname, first names, profession and address of each external accountant or company auditor and their membership number at their Institute, as well as the nature of their assignment:

• A. Bookkeeping of the company **,
• B. Preparing the annual accounts **,
• C. Auditing the annual accounts and/or
• D. Correcting the annual accounts.

If the tasks mentioned under A or B are executed by certified accountants or certified bookkeepers - tax experts, the following information can be mentioned hereafter: surname, first names, profession and address of each certified accountant or certified bookkeeper-tax expert and their membership number at the Institute of Accounting professionals and Tax Experts, as well as the nature of their assignment.

Surname, first names, profession and address	Membership number	Nature of the assignment (A, B, C and/or D)
Accountants & Tax Advisors BV 0472.250.042	50.037.549	B
Bosdellestraat 120 , box 14, 1933 Sterrebeek, Belgium
Title : External accountant
Represented by :
1. HEIRMAN Joël	10.628.469
Stenedorpstraat 15 , 8400 Oostende, Belgium
CPA

^* Strike out what does not apply.

^** Optional mention.

ANNUAL ACCOUNTS

BALANCE SHEET AFTER APPROPRIATION

	Notes	Codes	Period	Preceding period
ASSETS
FORMATION EXPENSES		20	8.896.154,03	11.709.906,15
FIXED ASSETS		21/28	39.407.922,03	24.642.949,61
Intangible fixed assets	6.2	21	37.729.099,03	23.085.978,76
Tangible fixed assets	6.3	22/27	1.655.931,92	1.532.807,41
Land and buildings		22
Plant, machinery and equipment		23	661.942,71	609.315,94
Furniture and vehicles		24	181.810,85	100.288,24
Leasing and other similar rights		25
Other tangible fixed assets		26	94.484,13	131.725,24
Assets under construction and advance payments		27	717.694,23	691.477,99
Financial fixed assets	6.4 / 6.5.1	28	22.891,08	24.163,44
Affiliated Companies	6.15	280/1	64,48	64,48
Participating interests		280	64,48	64,48
Amounts receivable		281
Other companies linked by participating interests	6.15	282/3
Participating interests		282
Amounts receivable		283
Other financial fixed assets		284/8	22.826,60	24.098,96
Shares		284
Amounts receivable and cash guarantees		285/8	22.826,60	24.098,96

	Notes	Codes	Period	Preceding period
CURRENT ASSETS		29/58	93.898.353,40	133.871.124,53
Amounts receivable after more than one year		29
Trade debtors		290
Other amounts receivable		291
Stocks and contracts in progress		3	881.980,97	345.998,00
Stocks		30/36	881.980,97	345.998,00
Raw materials and consumables		30/31	498.585,30
Work in progress		32	99.541,00	83.440,00
Finished goods		33	283.854,67	262.558,00
Goods purchased for resale		34
Immovable property intended for sale		35
Advance payments		36
Contracts in progress		37
Amounts receivable within one year		40/41	2.539.182,76	632.770,46
Trade debtors		40	1.575.658,95	228.045,25
Other amounts receivable		41	963.523,81	404.725,21
Current investments	6.5.1 / 6.6	50/53	76.968.116,35
Own shares		50
Other investments		51/53	76.968.116,35
Cash at bank and in hand		54/58	12.250.184,30	131.247.463,30
Accruals and deferred income	6.6	490/1	1.258.889,02	1.644.892,77
TOTAL ASSETS		20/58	142.202.429,46	170.223.980,29

	Notes	Codes	Period	Preceding period
EQUITY AND LIABILITIES
EQUITY		10/15	134.695.008,85	164.065.475,12
Contributions	6.7.1	10/11	246.880.353,84	246.625.001,37
Capital		10	4.440.069,16	4.427.369,69
Issued capital		100	4.440.069,16	4.427.369,69
4 Uncalled capital		101
Beyond capital		11	242.440.284,68	242.197.631,68
Share premium account		1100/10	242.440.284,68	242.197.631,68
Other		1109/19
Revaluation surpluses		12
Reserves		13
Reserves not available		130/1
Legal reserve		130
Reserves not available statutorily		1311
Purchase of own shares		1312
Financial support		1313
Other		1319
Untaxed reserves		132
Available reserves		133
Accumulated profits (losses) (+)/(-)		14	-112.185.344,99	-82.559.526,25
Capital subsidies		15
Advance to shareholders on the distribution of net 5 assets		19
PROVISIONS AND DEFERRED TAXES		16	59.017,45	11.646,57
Provisions for liabilities and charges		160/5	59.017,45	11.646,57
Pensions and similar obligations		160
Taxes		161
Major repairs and maintenance		162
Environmental obligations		163
Other liabilities and charges	6.8	164/5	59.017,45	11.646,57
Deferred taxes		168

Amount to be deducted from the issued capital. 4

Amount to be deducted from the other components of equity. 5

........

	Notes	Codes	Period	Preceding period
AMOUNTS PAYABLE		17/49	7.448.403,16	6.146.858,60
Amounts payable after more than one year		17	923.471,64	1.275.843,36
Financial debts		170/4	923.471,64	1.275.843,36
Subordinated loans		170
Unsubordinated debentures		171
Leasing and other similar obligations		172
Credit institutions		173
Other loans		174	923.471,64	1.275.843,36
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advance payments on contracts in progress		176
Other amounts payable		178/9
Amounts payable within one year		42/48	6.253.118,45	3.866.733,08
Current portion of amounts payable after more than one year falling due within one year		42	343.347,53	442.999,99
Financial debts		43
Credit institutions		430/8
Other loans		439
Trade debts		44	4.039.150,08	2.470.069,73
Suppliers		440/4	4.039.150,08	2.470.069,73
Bills of exchange payable		441
Advance payments on contracts in progress		46
Taxes, remuneration and social security	6.9	45	1.528.161,10	566.583,99
Taxes		450/3	183.463,36	6.469,85
Remuneration and social security		454/9	1.344.697,74	560.114,14
Other amounts payable		47/48	342.459,74	387.079,37
Accruals and deferred income	6.9	492/3	271.813,07	1.004.282,16
TOTAL LIABILITIES		10/49	142.202.429,46	170.223.980,29

PROFIT AND LOSS ACCOUNT

	Notes	Codes	Period	Preceding period
Operating income		70/76A	18.950.378,54	11.636.219,97
Turnover	6.10	70	3.095.389,42	862.859,70
Stocks of finished goods and work and contracts in progress: increase (decrease) (+)/(-)		71	37.397,67	290.563,15
Produced fixed assets		72	15.402.040,49	9.502.672,00
Other operating income	6.10	74	415.550,96	980.125,12
Non-recurring operating income	6.12	76A
Operating charges		60/66A	51.500.499,90	39.461.322,49
Goods for resale, raw materials and consumables		60	1.198.786,05	303.484,73
Purchases		600/8	1.697.371,35	303.484,73
Stocks: decrease (increase) (+)/(-)		609	-498.585,30
Services and other goods		61	40.992.065,66	39.737.035,55
Remuneration, social security and pensions (+)/(-)	6.10	62	5.117.753,87	3.931.747,52
Amortisations of and other amounts written down on formation expenses, intangible and tangible fixed assets		630	3.830.344,71	3.046.551,74
Amounts written down on stocks, contracts in progress and trade debtors: additions (write-backs) (+)/(-)	6.10	631/4	29.043,00
Provisions for liabilities and charges: appropriations (uses and write-backs) (+)/(-)	6.10	635/8	47.370,88	8.376,13
Other operating charges	6.10	640/8	285.135,73	21.386,82
Operating charges reported as assets under restructuring costs (-)		649
Non-recurring operating charges	6.12	66A		-7.587.260,00
Operating profit (loss) (+)/(-)		9901	-32.550.121,36	-27.825.102,52

	Notes	Codes	Period	Preceding period
Financial income		75/76B	7.086.262,21	3.669.661,43
Recurring financial income		75	7.086.262,21	3.669.661,43
Income from financial fixed assets		750	305.556,01	77.096,55
Income from current assets		751	736.983,10	1.424,22
Other financial income	6.11	752/9	6.043.723,10	3.591.140,66
Non-recurring financial income	6.12	76B
Financial charges	6.11	65/66B	4.146.338,65	2.855.365,46
Recurring financial charges		65	3.103.953,18	1.036.497,10
Debt charges		650	82.614,15	305.016,86
Amounts written down on current assets other than stocks, contracts in progress and trade debtors: additions (write-backs) (+)/(-)		651
Other financial charges		652/9	3.021.339,03	731.480,24
Non-recurring financial charges	6.12	66B	1.042.385,47	1.818.868,36
Profit (Loss) for the period before taxes (+)/(-)		9903	-29.610.197,80	-27.010.806,55
Transfer from deferred taxes		780
Transfer to deferred taxes		680
Income taxes on the result(+)/(-)	6.13	67/77	15.620,94	10.504,25
Taxes		670/3	35.558,27	10.504,25
Adjustment of income taxes and write-back of tax provisions		77	19.937,33
Profit (Loss) of the period (+)/(-)		9904	-29.625.818,74	-27.021.310,80
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689
Profit (Loss) of the period available for appropriation (+)/(-)		9905	-29.625.818,74	-27.021.310,80

APPROPRIATION ACCOUNT

14P
791
792
691
(14)
794
694
695
696
697

Codes	Period	Preceding period
9906	-112.185.344,99	-82.559.526,25
(9905)	-29.625.818,74	-27.021.310,80
14P	-82.559.526,25	-55.538.215,45
791/2
791
792
691/2
691
6920
6921
(14)	-112.185.344,99	-82.559.526,25
794
694/7
694
695
696

NOTES ON THE ACCOUNTS

STATEMENT OF FORMATION, CAPITAL INCREASE OR INCREASE OF CONTRIBUTIONS EXPENSES, LOAN ISSUE EXPENSES AND RESTRUCTURING COSTS

	Codes	Period	Preceding period
Net book value at the end of the period	20P	xxxxxxxxxxxxxxx	11.709.906,15
Movements during the period
New expenses incurred	8002
Amortisation	8003	2.813.752,12
Other (+)/(-)	8004
Net book value at the end of the period	(20)	8.896.154,03
Of which
Formation, capital increase or increase of contributions expenses, loan issue expenses and other formation expenses	200/2
Restructuring costs	204

STATEMENT OF INTANGIBLE FIXED ASSETS

	Codes	Period	Preceding period
DEVELOPMENT COSTS
Acquisition value at the end of the period	8051P	xxxxxxxxxxxxxxx	35.717.922,37
Movements during the period
Acquisitions, including produced fixed assets	8021	15.402.040,49
Sales and disposals	8031
Transfers from one heading to another (+)/(-)	8041
Acquisition value at the end of the period	8051	51.119.962,86
Amortisations and amounts written down at the end of the period	8121P	xxxxxxxxxxxxxxx	12.631.943,61
Movements during the period
Recorded	8071	758.920,22
Written back	8081
Acquisitions from third parties	8091
Cancelled owing to sales and disposals	8101
Transferred from one heading to another (+)/(-)	8111
Amortisations and amounts written down at the end of the period	8121	13.390.863,83
NET BOOK VALUE AT THE END OF THE PERIOD	81311	37.729.099,03

........... ........... ........... ...

	Codes	Period	Preceding period
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period	8192P	xxxxxxxxxxxxxxx	788.778,72
Movements during the period
Acquisitions, including produced fixed assets	8162	216.004,56
Sales and disposals	8172
Transfers from one heading to another (+)/(-)	8182
Acquisition value at the end of the period	8192	1.004.783,28
Revaluation surpluses at the end of the period	8252P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8212
Acquisitions from third parties	8222
Cancelled	8232
Transferred from one heading to another (+)/(-)	8242
Revaluation surpluses at the end of the period	8252
Amortisations and amounts written down at the end of the period	8322P	xxxxxxxxxxxxxxx	179.462,78
Movements during the period
Recorded	8272	163.377,79
Written back	8282
Acquisitions from third parties	8292
Cancelled owing to sales and disposals	8302
Transferred from one heading to another (+)/(-)	8312
Amortisations and amounts written down at the end of the period	8322	342.840,57
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	661.942,71

............ ............ ............ ............ .......

	Codes	Period	Preceding period
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	xxxxxxxxxxxxxxx	258.457,83
Movements during the period
Acquisitions, including produced fixed assets	8163	138.576,08
Sales and disposals	8173
Transfers from one heading to another (+)/(-)	8183
Acquisition value at the end of the period	8193	397.033,91
Revaluation surpluses at the end of the period	8253P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8213
Acquisitions from third parties	8223
Cancelled	8233
Transfers from one heading to another (+)/(-)	8243
Revaluation surpluses at the end of the period	8253
Amortisations and amounts written down at the end of the period	8323P	xxxxxxxxxxxxxxx	158.169,59
Movements during the period
Recorded	8273	57.053,47
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303
Transfers from one heading to another (+)/(-)	8313
Amortisations and amounts written down at the end of the period	8323	215.223,06
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	181.810,85

............ ............ ............ ............ .......

	Codes	Period	Preceding period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	xxxxxxxxxxxxxxx	234.556,79
Movements during the period
Acquisitions, including produced fixed assets	8165
Sales and disposals	8175
Transfers from one heading to another (+)/(-)	8185
Acquisition value at the end of the period	8195	234.556,79
Revaluation surpluses at the end of the period	8255P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8215
Acquisitions from third parties	8225
Cancelled	8235
Transferred from one heading to another (+)/(-)	8245
Revaluation surpluses at the end of the period	8255
Amortisations and amounts written down at the end of the period	8325P	xxxxxxxxxxxxxxx	102.831,55
Movements during the period
Recorded	8275	37.241,11
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305
Transferred from one heading to another (+)/(-)	8315
Amortisations and amounts written down at the end of the period	8325	140.072,66
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	94.484,13

........... ........... ........... ........... ........... ...

	Codes	Period	Preceding period
ASSETS UNDER CONSTRUCTION AND ADVANCE PAYMENTS
Acquisition value at the end of the period	8196P	xxxxxxxxxxxxxxx	691.477,99
Movements during the period
Acquisitions, including produced fixed assets	8166	26.216,24
Sales and disposals	8176
Transfers from one heading to another (+)/(-)	8186
Acquisition value at the end of the period	8196	717.694,23
Revaluation surpluses at the end of the period	8256P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8216
Acquisitions from third parties	8226
Cancelled	8236
Transferred from one heading to another (+)/(-)	8246
Revaluation surpluses at the end of the period	8256
Amortisations and amounts written down at the end of the period	8326P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8276
Written back	8286
Acquisitions from third parties	8296
Cancelled owing to sales and disposals	8306
Transferred from one heading to another (+)/(-)	8316
Amortisations and amounts written down at the end of the period	8326
NET BOOK VALUE AT THE END OF THE PERIOD	(27)	717.694,23

............ ............ ............ ............ .......

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Preceding period
AFFILIATED COMPANIES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P	xxxxxxxxxxxxxxx	64,48
Movements during the period
Acquisitions	8361
Sales and disposals	8371
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	64,48
Revaluation surpluses at the end of the period	8451P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8411
Acquisitions from third parties	8421
Cancelled	8431
Transferred from one heading to another (+)/(-)	8441
Revaluation surpluses at the end of the period	8451
Amounts written down at the end of the period	8521P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8471
Written back	8481
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
Transferred from one heading to another (+)/(-)	8511
Amounts written down at the end of the period	8521
Uncalled amounts at the end of the period	8551P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8541
Uncalled amounts at the end of the period	8551
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	64,48
AFFILIATED COMPANIES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	xxxxxxxxxxxxxxx
Movements during the period
Appropriations	8581	1.042.385,47
Repayments	8591
Amounts written down	8601	1.042.385,47
Amounts written back	8611
Exchange differences (+)/(-)	8621
Other movements (+)/(-)	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)
ACCUMULATED AMOUNTS WRITTEN DOWN ON AMOUNTS RECEIVABLE AT END OF THE PERIOD	8651	5.861.516,29

	Codes	Period	Preceding period
OTHER COMPANIES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions	8363
Sales and disposals	8373
Transfers from one heading to another (+)/(-)	8383
Acquisition value at the end of the period	8393
Revaluation surpluses at the end of the period	8453P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transferred from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transferred from one heading to another (+)/(-)	8513
Amounts written down at the end of the period	8523
Uncalled amounts at the end of the period	8553P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8543
Uncalled amounts at the end of the period	8553
NET BOOK VALUE AT THE END OF THE PERIOD	(284)
OTHER COMPANIES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	285/8P	xxxxxxxxxxxxxxx	24.098,96
Movements during the period
Appropriations	8583
Repayments	8593	1.272,36
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
Other movements (+)/(-)	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)	22.826,60
ACCUMULATED AMOUNTS WRITTEN DOWN ON AMOUNTS RECEIVABLE AT END OF THE PERIOD	8653

PARTICIPATING INTERESTS INFORMATION

PARTICIPATING INTERESTS AND OTHER RIGHTS IN OTHER COMPANIES

The following list mentions the companies in which the company holds a participating interest (recorded in headings 280 and 282 of assets), as well as the companies in which the company holds rights (recorded in headings 284 and 51/53 of assets) for an amount of at least 10% of the capital, the equity or a class of shares of the company.

NAME, full address of the REGISTERED	Rights held				Data extracted from the most recent annual accounts
OFFICE and, for an entity governed by Belgian law, the COMPANY REGISTRATION NUMBER	Nature	Directly		Subs idiaries	Annual	Cur	Equity	Net result
		Number	%	%	accounts as per	rency code	(+) or (-) (in units)
NYXOAH LTD Yigal Alon st 126 64074 Tel Aviv Israel					31/12/2022	ILS	8.613.655	1.511.459
NYXOAH PTY LTD FC GIPPS STREET 58 VIC3066 COLLINGWOOD Australia	shares	100	100,00	0,00	31/12/2022	AUD	-9.719.961	-2.379.549
NYXOAH INC LITTLE FALLS DRIVE 251 19808 DELAWARE United States of America	shares	100	100,00	0,00	31/12/2022	USD	1.327.461	1.197.445
	Shares	1.000	100,00	0,00

CURRENT INVESTMENTS AND ACCRUALS AND DEFERRED INCOME

..............

	Codes	Period	Preceding period
CURRENT INVESTMENTS - OTHER INVESTMENTS
Shares and investments other than fixed income investments	51
Shares – Book value increased with the uncalled amount	8681
Shares – Uncalled amount	8682
Precious metals and works of art	8683
Fixed-income securities	52
Fixed income securities issued by credit institutions	8684
Term accounts with credit institutions	53	76.968.116,35
With a remaining term or notice
up to one month	8686	58.968.116,35
between one month and one year	8687	18.000.000,00
over one year	8688
Other investments not mentioned above	8689

ACCRUALS AND DEFERRED INCOME

Allocation of account 490/1 of assets if the amount is significant

Deffered charges 999.862,56

Acquired product 259.026,46

Period

STATEMENT OF CAPITAL AND SHAREHOLDERS' STURCTURE

STATEMENT OF CAPITAL	Codes	Period	Preceding period
Capital
Issued capital at the end of the period	100P	XXXXXXXXXXXXXX	4.427.369,69
Issued capital at the end of the period	(100)	4.440.069,16
	Codes	Period	Number of shares
Modifications during the period
Capital increase		12.699,47	73.920

Ordinary		4.427.369,69	25.846.279
Registered shares	8702	XXXXXXXXXXXXXX	12.247.577
Shares dematerialized	8703	XXXXXXXXXXXXXX	13.598.702

8702	XXXXXXXXXXXXXX	12.247.577
8703	XXXXXXXXXXXXXX	13.598.702

	Codes	Uncalled amount	Called up amount, unpaid
Unpaid capital
Uncalled capital	(101)		XXXXXXXXXXXXXX
Called up capital, unpaid	8712	XXXXXXXXXXXXXX
Shareholders that still need to pay up in full

	Codes	Period
Own shares
Held by the company itself
Amount of capital held	8721
Number of shares	8722
Held by a subsidiary
Amount of capital held	8731
Number of shares	8732
Commitments to issuing shares
Owing to the exercise of conversion rights
Amount of outstanding convertible loans	8740
Amount of capital to be subscribed	8741
Corresponding maximum number of shares to be issued	8742
Owing to the exercise of subscription rights
Number of outstanding subscription rights	8745	2.578.750
Amount of capital to be subscribed	8746	443.029,25
Corresponding maximum number of shares to be issued	8747	2.578.750
Authorised capital not issued	8751

	Codes	Period
Shares issued, non-representing capital
Distribution
Number of shares	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidiaries	8781

ADDITIONAL NOTES REGARDING CONTRIBUTIONS (INCLUDING CONTRIBUTIONS IN THE FORM OF SERVICES OR KNOW-HOW)

Period

SHAREHOLDERS' STRUCTURE OF THE COMPANY AT YEAR-END CLOSING DATE

As reflected in the notifications received by the company pursuant to article 7:225 of the Belgian Companies and Associations Code, article 14 fourth paragraph of the law of 2 May 2007 on the publication of major holdings and article 5 of the Royal Decree of 21 August 2008 on further rules for certain multilateral trading facilities.

Name	31/12/2022
Robert Taub	2.127.030	8,23%
Robelga SRL (Robert Taub) (previously MINV SA)	696.000	2,69%
TOGETHER (the late Mr. Uwe Wascher)	2.503.500	9,69%
Jurgen Hambrecht	5.560	0,02%
Denis Solvay	313.000	1,21%
PG Invest	70.106	0,27%
Kris Seyssens	48.250	0,19%
Mark Seyssens	36.250	0,14%
Trustcapital	363.816	1,41%
Mrs. Hilde Famaey	38.684	0,15%
Zaum & Partners SC SPRL	425.000	1,64%
Société Régionale d'Investissement de Wallonie	464.500	1,80%
Kevin Rakin	5.560	0,02%
Fabian Suarez	42.000	0,16%
Cochlear Investments PTY LTD	3.947.617	15,27%
ResMed	794.235	3,07%
Noshag	65.359	0,25%
Globe CP GmbH	2.941	0,01%
Rudolf Fuchs	44.117	0,17%
Luc Rysbrack	200	0,00%
Bernard Jolly	60.112	0,23%
BM Tesveil	171.500	0,66%
Pierre Gianello	5.560	0,02%
Rita Johnson-Mills	5.560	0,02%
Ray Cohen	5.560	0,02%
Ginny Kirby	5.560	0,02%
Dematerialised shares (CIK / Euroclear)	10.247.619		39,65% traded on Euron
Computershare	3.351.083		12,97% traded on Nasda
TOTAL	25.846.279	100,00%

	Codes	Period
BREAKDOWN OF AMOUNTS PAYABLE WITH AN ORIGINAL TERM OF MORE THAN
ONE YEAR, ACCORDING TO THEIR RESIDUAL MATURITY
Current portion of amounts payable after more than one year falling due within one year
Financial debts	8801	343.347,53
Subordinated loans	8811
Unsubordinated debentures	8821
Leasing and other similar obligations	8831
Credit institutions	8841
Other loans	8851	343.347,53
Trade debts	8861
Suppliers	8871
Bills of exchange payable	8881
Advance payments on contracts in progress	8891
Other amounts payable	8901
Total current portion of amounts payable after more than one year falling due within one year	(42)	343.347,53
Amounts payable with a remaining term of more than one year, yet less than 5 years
Financial debts	8802	923.471,64
Subordinated loans	8812
Unsubordinated debentures	8822
Leasing and other similar obligations	8832
Credit institutions	8842
Other loans	8852	923.471,64
Trade debts	8862
Suppliers	8872
Bills of exchange payable	8882
Advance payments on contracts in progress	8892
Other amounts payable	8902
Total amounts payable with a remaining term of more than one year, yet less than 5 years	8912	923.471,64
Amounts payable with a remaining term of more than 5 years
Financial debts	8803
Subordinated loans	8813
Unsubordinated debentures	8823
Leasing and other similar obligations	8833
Credit institutions	8843
Other loans	8853
Trade debts	8863
Suppliers	8873
Bills of exchange payable	8883
Advance payments on contracts in progress	8893
Other amounts payable	8903
Amounts payable with a remaining term of more than 5 years	8913

	Codes	Period
AMOUNTS PAYABLE GUARANTEED (included in accounts 17 and 42/48 of liabilities)
Amounts payable guaranteed by the Belgian government agencies
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and other similar obligations	8951
Credit institutions	8961
Other loans	8971
Trade debts	8981
Suppliers	8991
Bills of exchange payable	9001
Advance payments on contracts in progress	9011
Remuneration and social security	9021
Other amounts payable	9051
Total of the amounts payable guaranteed by the Belgian government agencies	9061
Amounts payable guaranteed by real securities given or irrevocably promised by the company on its own assets
Financial debts	8922
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and other similar obligations	8952
Credit institutions	8962
Other loans	8972
Trade debts	8982
Suppliers	8992
Bills of exchange payable	9002
Advance payments on contracts in progress	9012
Taxes, remuneration and social security	9022
Taxes	9032
Remuneration and social security	9042
Other amounts payable	9052
Total amounts payable guaranteed by real securities given or irrevocably promised by the company on its own assets	9062

	Codes	Period
TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (headings 450/3 and 178/9 of liabilities)
Outstanding tax debts	9072
Accruing taxes payable	9073	183.463,36
Estimated taxes payable	450
Remuneration and social security (headings 454/9 and 178/9 of liabilities)
Amounts due to the National Social Security Office	9076
Other amounts payable in respect of remuneration and social security	9077	1.344.697,74

Period

ACCRUALS AND DEFERRED INCOME

Allocation of heading 492/3 of liabilities if the amount is significant

expenses to be charged 112.903,10

OPERATING RESULTS

	Codes	Period	Preceding period
OPERATING INCOME
Net turnover
Allocation by categories of activity
Genio System		3.095.389,42	862.859,70
Allocation by geographical market
Germany		2.817.047,51	818.584,70
Rest of Europe			44.275,00
Finland		40.550,00
Zwitzerland		213.791,91
Spain		24.000,00
Other operating income
Operating subsidies and compensatory amounts received from public authorities	740	149.803,00
OPERATING CHARGES
Employees for whom the company submitted a DIMONA declaration or who are recorded in the general personnel register
Total number at the closing date	9086	35	24
Average number of employees calculated in full-time equivalents	9087	34,0	18,5
Number of actual hours worked	9088	45.839	31.749
Personnel costs
Remuneration and direct social benefits	620	3.558.014,93	2.613.238,18
Employers' contribution for social security	621	728.796,22	714.726,24
Employers' premiums for extra statutory insurance	622	171.063,74	174.354,78
Other personnel costs	623	659.878,98	429.428,32
Retirement and survivors' pensions	624

	Codes	Period	Preceding period
Provisions for pensions and similar obligations Appropriations (uses and write-backs) (+)/(-)	635
Depreciations
On stock and contracts in progress
Recorded	9110
Written back	9111
On trade debtors
Recorded	9112	29.043,00
Written back	9113
Provisions for liabilities and charges
Appropriations	9115	47.370,88	18.073,47
Uses and write-backs	9116		9.697,34
Other operating charges
Taxes related to operation	640	868,15	11.626,06
Other	641/8	284.267,58	9.760,76
Hired temporary staff and personnel placed at the company's disposal
Total number at the closing date	9096
Average number calculated in full-time equivalents	9097	0,5	0,6
Number of actual hours worked	9098	853	988
Costs to the company	617	34.716,61	72.007,86

FINANCIAL RESULTS

	Codes	Period	Preceding period
RECURRING FINANCIAL INCOME
Other financial income
Subsidies paid by public authorities, added to the profit and loss account
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
Exchange differences realized	754	2.716.304,66	8.759,21
Other
RECURRING FINANCIAL CHARGES
Depreciation of loan issue expenses	6501
Capitalised interests	6502		12.973,83
Depreciations on current assets
Recorded	6510
Written back	6511
Other financial charges
Amount of the discount borne by the company, as a result of negotiating amounts receivable	653	9.209,13	9.351,00
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial costs

INCOME AND CHARGES OF EXCEPTIONAL SIZE OR FREQUENCY

	Codes	Period	Preceding period
NON-RECURRING INCOME	76
Non-recurring operating income	(76A)
Write-back of depreciation and of amounts written off intangible and tangible fixed assets	760
Write-back of provisions for extraordinary operating liabilities and charges	7620
Capital profits on disposal of intangible and tangible fixed assets	7630
Other non-recurring operating income	764/8
Non-recurring financial income	(76B)
Write-back of amounts written down financial fixed assets	761
Write-back of provisions for extraordinary financial liabilities and charges	7621
Capital profits on disposal of financial fixed assets	7631
Other non-recurring financial income	769
NON-RECURRING CHARGES	66	1.042.385,47	-5.768.391,64
Non-recurring operating charges	(66A)		-7.587.260,00
Non-recurring depreciation of and amounts written off formation expenses, intangible and tangible fixed assets	660
Provisions for extraordinary operating liabilities and charges: appropriations (uses) (+)/(-)	6620
Capital losses on disposal of intangible and tangible fixed assets	6630
Other non-recurring operating charges	664/7
Non-recurring operating charges carried to assets as restructuring costs (-)	6690		-7.587.260,00
Non-recurring financial charges	(66B)	1.042.385,47	1.818.868,36
Amounts written off financial fixed assets	661	1.042.385,47	1.818.868,36
Provisions for extraordinary financial liabilities and charges - appropriations (uses) (+)/(-)	6621
Capital losses on disposal of financial fixed assets	6631
Other non-recurring financial charges	668
Non-recurring financial charges carried to assets as restructuring costs (-)	6691

Period

TAXES

	Codes	Period
INCOME TAXES
Income taxes on the result of the period	9134	32.353,36
Income taxes paid and withholding taxes due or paid	9135	32.353,36
Excess of income tax prepayments and withholding taxes paid recorded under assets	9136
Estimated additional taxes	9137
Income taxes on the result of prior periods	9138	3.204,91
Additional income taxes due or paid	9139	3.204,91
Additional income taxes estimated or provided for	9140
Major reasons for the differences between pre-tax profit, as it results from the annual accounts, and estimated taxable profit
Disallowed expenses		1.432.513,19

Influence of non-recurring results on income taxes on the result of the period

	Codes	Period
Sources of deferred taxes
Deferred taxes representing assets	9141	108.782.966,46
Accumulated tax losses deductible from future taxable profits	9142	108.782.966,46
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

	Codes	Period	Preceding period
VALUE-ADDED TAXES AND TAXES BORNE BY THIRD PARTIES
Value-added taxes charged
To the company (deductible)	9145	1.081.640,78	1.786.455,10
By the company	9146		1.782,75
Amounts withheld on behalf of third party by way of
Payroll withholding taxes	9147	1.238.739,61	768.239,18
Withholding taxes on investment income	9148

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

	Codes	Period
PERSONAL GUARANTEES PROVIDED OR IRREVOCABLY PROMISED BY THE COMPANY AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES	9149
Of which
Bills of exchange in circulation endorsed by the company	9150
Bills of exchange in circulation drawn or guaranteed by the company	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the company	9153
REAL GUARANTEES
Real guarantees provided or irrevocably promised by the company on its own assets as security of debts and commitments of the company
Mortgages
Book value of the immovable properties mortgaged	91611
Amount of registration	91621
For irrevocable mortgage mandates, the amount for which the agent can take registration	91631
Pledging of goodwill
Maximum amount up to which the debt is secured and which is the subject of registration	91711
For irrevocable mandates to pledge goodwill, the amount for which the agent can take the inscription	91721
Pledging of other assets or irrevocable mandates to pledge other assets
Book value of the immovable properties mortgaged	91811
Maximum amount up to which the debt is secured	91821
Guarantees provided or irrevocably promised on future assets
Amount of assets in question	91911
Maximum amount up to which the debt is secured	91921
Vendor's privilege
Book value of sold goods	92011
Amount of the unpaid price	92021

	Codes	Period
Real guarantees provided or irrevocably promised by the company on its own assets as security of debts and commitments of third parties
Mortgages
Book value of the immovable properties mortgaged	91612
Amount of registration	91622
For irrevocable mortgage mandates, the amount for which the agent can take registration	91632
Pledging of goodwill
Maximum amount up to which the debt is secured and which is the subject of registration	91712
For irrevocable mandates to pledge goodwill, the amount for which the agent can take the inscription	91722
Pledging of other assets or irrevocable mandates to pledge other assets
Book value of the immovable properties mortgaged	91812
Maximum amount up to which the debt is secured	91822
Guarantees provided or irrevocably promised on future assets
Amount of assets in question	91912
Maximum amount up to which the debt is secured	91922
Vendor's privilege
Book value of sold goods	92012
Amount of the unpaid price	92022

N°. 0817.149.675 NYXOAH C-c 6.14

	Codes	Period
GOODS AND VALUES, NOT REFLECTED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN
THEIR OWN NAME BUT FOR THE BENEFIT AND AT THE RISK OF THE COMPANY
SUBSTANTIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
SUBSTANTIAL COMMITMENTS TO DISPOSE OF FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215	920.978,97
Currencies sold (to be delivered)	9216

C-c 6.14
Period
7.585.045,00

SETTLEMENT REGARDING THE COMPLEMENTARY RETIREMENT OR SURVIVORS' PENSION FOR PERSONNEL AND BOARD MEMBERS

Brief description

Pension plan

The company Nyxoah has set up an additional pension plan for the benefit of all its employees since the year 2012. This pension plan is a so-called "defined contribution" plan and is outsourced and financed by a group insurance contract (a pension fund). This plan defines the payment of contributions paid by the employer. The goal is to finance a capital that will be paid out to employees in case of life at the age of 65.

Employer's allowances and personal contributions are paid periodically to the organization responsible for financing the pensions. According to Belgian legislation, the employer must guarantee a minimum return on both the employer's allowances and the personal contributions. At the balance sheet date, the insurance company informed us that there is no underfunding of the legal reserves compared to the mathematical reserves. The calculation method corresponds to the underfunding determined according to the intrinsic value method. This method consists of comparing the reserves defined in the pension plan and available in the individual contracts at the balance sheet date with the individual minimum reserve calculated at the balance sheet date. The negative difference determines the individual underfunding at the balance sheet date. The total underfunding is the sum of the individual underfunding.

Measures taken to cover the related charges

	Code	Period
PENSIONS FUNDED BY THE COMPANY ITSELF
Estimated amount of the commitments resulting from past services	9220
Methods of estimation
		Period
NATURE AND FINANCIAL IMPACT OF SIGNIFICANT EVENTS AFTER THE CLOSING DATE not reflected in the balance sheet or income statement
		Period
COMMITMENTS TO PURCHASE OR SALE AVAILABLE TO THE COMPANY AS ISSUER OF OPTIONS FOR
SALE OR PURCHASE
		Period
NATURE, COMMERCIAL OBJECTIVE AND FINANCIAL CONSEQUENCES OF TRANSACTIONS NOT REFLECTED IN THE BALANCE SHEET
If the risks and benefits resulting from such transactions are of any meaning and if publishing such risks and benefits is necessary to appreciate the financial situation of the company

N°.	0817.149.675	NYXOAH	C-c 6.14
			Period
OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET (including those that cannot be calculated)

	Codes	Period	Preceding period
AFFILIATED COMPANIES
Financial fixed assets	(280/1)	64,48	64,48
Participating interests	(280)	64,48	64,48
Subordinated amounts receivable	9271
Other amounts receivable	9281
Amounts receivable	9291	233.498,43	1.226.873,58
Over one year	9301
Within one year	9311	233.498,43	1.226.873,58
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	342.459,74	1.613.952,95
Over one year	9361
Within one year	9371	342.459,74	1.613.952,95
Personal and real guarantees
Provided or irrevocably promised by the company as security for debts or commitments of affiliated companies	9381
Provided or irrevocably promised by affiliated companies as security for debts or commitments of the company	9391
Other significant financial commitments	9401
Financial results
Income from financial fixed assets	9421
Income from current assets	9431
Other financial income	9441
Debt charges	9461
Other financial charges	9471
Disposal of fixed assets
Capital profits realised	9481
Capital losses realised	9491

RELATIONSHIPS WITH AFFILIATED COMPANIES, ASSOCIATED COMPANIES AND OTHER COMPANIES LINKED BY PARTICIPATING INTERESTS

	Codes	Period	Preceding period
ASSOCIATED COMPANIES
Financial fixed assets	9253
Participating interests	9263
Subordinated amounts receivable	9273
Other amounts receivable	9283
Amounts receivable	9293
Over one year	9303
Within one year	9313
Amounts payable	9353
Over one year	9363
Within one year	9373
Personal and real guarantees
Provided or irrevocably promised by the company as security for debts or commitments of affiliated companies	9383
Provided or irrevocably promised by affiliated companies as security for debts or commitments of the company	9393
Other significant financial commitments	9403
COMPANIES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	9252
Participating interests	9262
Subordinated amounts receivable	9272
Other amounts receivable	9282
Amounts receivable	9292
Over one year	9302
Within one year	9312
Amounts payable	9352
Over one year	9362
Within one year	9372

TRANSACTIONS WITH AFFILIATED PARTIES BEYOND NORMAL MARKET CONDITIONS

Mention of these transactions if they are significant, including the amount of the transactions, the nature of the link, and all information about the transactions that should be necessary to get a better understanding of the financial situation of the company

Nihil

NYXOAH

FINANCIAL RELATIONSHIPS WITH

	Codes	Period
DIRECTORS AND MANAGERS, INDIVIDUALS OR LEGAL PERSONS WHO CONTROL THE COMPANY DIRECTLY OR INDIRECTLY WITHOUT BEING ASSOCIATED THEREWITH, OR OTHER COMPANIES CONTROLLED DIRECTLY OR INDIRECTLY BY THESE PERSONS
Amounts receivable from these persons	9500
Principal conditions regarding amounts receivable, rate of interest, duration, any amounts repaid, cancelled or written off
Guarantees provided in their favour	9501
Other significant commitments undertaken in their favour	9502
Amount of direct and indirect remunerations and pensions, reflected in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person
To directors and managers	9503	945.932,31
To former directors and former managers	9504

	Codes	Period
THE AUDITOR(S) AND THE PERSONS WHOM HE (THEY) IS (ARE) COLLABORATING WITH
Auditors' fees	9505	527.000,00
Fees for exceptional services or special assignments executed within the company by the auditor
Other audit assignments	95061	18.000,00
Tax consultancy assignments	95062
Other assignments beyondthe audit	95063	45.000,00
Fees for exceptional services or special assignments executed within the company by people the auditor(s) is (are collaborating with
Other audit assignments	95081
Tax consultancy assignments	95082
Other assignments beyondthe audit	95083

Mentions related to article 3:64, § 2 and § 4 of the Belgian Companies and Associations Code

DECLARATION WITH REGARD TO THE CONSOLIDATED ANNUAL ACCOUNTS

INFORMATION TO DISCLOSE BY EACH COMPANY GOVERNED BY THE BELGIAN COMPANIES AND ASSOCIATIONS CODE ON THE CONSOLIDATED ANNUAL ACCOUNTS

The company has prepared and published consolidated annual accounts and a consolidated annual report*

The company has not prepared consolidated annual accounts and a consolidated annual report, because of an exemption for the following reason(s)*

The company and its subsidiaries exceed, on a consolidated basis, not more than one of the criteria mentioned in article 1:26 of the Belgian Companies and Associations Code*

The company only has subsidiaries that, considering the evaluation of the consolidated capital, the consolidated financial position or the consolidated result, individually or together, are of negligible interestError! Bookmark not defined. (article 3:23 of the Belgian Companies and Associations Code)

The company itself is a subsidiary of a parent company that prepares and publishes consolidated annual accounts, in which the annual accounts are integrated by consolidation*

Name, full address of the registered office and, if it concerns companies under Belgian law, the company registration number of the parent company(ies) and the indication if this (these) parent company(ies) prepares (prepare) and publishes (publish) consolidated annual accounts, in which the annual accounts are included by means of consolidation**:

If the parent company(ies) is (are) (a) company(ies) governed by foreign law, the location where the abovementioned annual accounts are available**:

^* Strike out what does not apply.

^** Where the annual accounts of the company are consolidated at different levels, the information should be given, on the one hand at the highest and on the other at the lowest level of companies of which the company is a subsidiary and for which consolidated accounts are prepared and published.

FINANCIAL RELATIONSHIPS OF THE GROUP THE COMPANY IS IN CHARGE OF IN BELGIUM WITH THE AUDITOR(S) AND THE PERSONS WITH WHOM HE (THEY) IS (ARE) LINKED

	Codes	Period
Mentions related to article 3:65, § 4 and § 5 of the Belgian Companies and Associations Code Fees to auditors according to the mandate at the group level led by the company publishing the information	9507	567.000,00
Fees for exceptional services or special missions executed by the auditor(s) at this group
Other audit assignments	95071	18.000,00
Tax consultancy assignments	95072	20.654,00
Other assignments beyondthe audit	95073	45.000,00
Fees to people auditors are linked to according to the mandate at the group level led by the company publishing the information Fees for exceptional services or special assignments executed at this group by people the auditor(s) is (are) linked to	9509
Other audit assignments	95091
Tax consultancy assignments	95092
Other assignments beyond the audit	95093

Mentions related to article 3:64, § 2 and § 4 of the Belgian Companies and Associations Code

VALUATION RULES

VALUATION RULES

The annual accounts have been drawn up in accordance with the Royal Decree of 29 April 2019 regarding the implementation of the Code of Companies and Associations.

The annual accounts give a true and fair view of the assets, liabilities, financial position and results of the company. The amounts relating to the financial year are established in a consistent way with those of the previous financial year.

Assets and liabilities are valued in accordance with article 3:108 of the Royal Decree of 29 April 2019 on the assumption that the company will continue as a going concern.

Each component of the assets and liabilities is valued separately. Depreciations, write-off and revaluations are specific to each asset to which they relate. Provisions for liabilities and charges are individualized. Valuations, depreciations, write-off and provisions for liabilities and charges meet the requirements of prudence, sincerity and good faith.

Formation expenses amortized over a period of 5 years.

Formation expenses will be amortized over a period of 5 years as from the finalization of the capital round.

Intangible assets

Intangible fixed assets are stated at net book value, i.e. the acquisition value less depreciations and write-downs recorded. If they were set up by the company itself, they are recorded at the lower of cost or production cost, or at a conservative estimate of their value in use, with an estimate of future yield acting as a ceiling.

Intangible assets are amortized on a straight-line basis. The following amortization percentage applies: 20%

Research and development expenses - Patents

The development costs are capitalized as intangible asset on the balance sheet if the potential profitability are identifiable and probable. Development expenses will be capitalized for the first time in the year in which the CE mark is obtained.

Research and development expenses - Device treating Obstructive Sleep Apnea.

The development costs were capitalized as intangible asset on the balance sheet if the potential profitability are identifiable and probable. Part of the capitalization will stop following the sales made. Nevertheless, part of the capitalization will continue, i.e.: indirect and direct costs of clinical studies conducted in Europe, United-States and Australia ; Development costs incurred in Israel.

Research and development costs are amortized over the estimated life of the Genio system based on the expiration of the last patent of this technology. The company concludes that the useful life of the technology and related improvements is at least 14 years from January 1, 2021.

In accordance with the accounting principle, the intangible assets are tested annually for impairment during the development period. The Genio® system is currently a unique product line developed by the Company and the Company determined that it has two cash generating units, Genio® system in Europe and Genio® system in the United States, for which a value in use analysis has been performed.

The discount rates have been determined by reference to the analyst reports covering the Company which are available. A sensitivity analysis has been performed concluding that a reasonable change in the WACC and/or the long-term growth rate would not lead to an impairment.

?

Property, plant and equipment

Fixed assets are stated at net book value, i.e. the acquisition value less depreciations and impairments.

Fixed assets are depreciated using the straight-line method. Additional costs are immediately recognized in the income statement. The following depreciation percentages apply:

Computer hardware: 33%.

Fitting-out of rented buildings 20%

Machinery and tools 20%.

Furniture 10%

Interest expenses are not included in the acquisition value .

Property, plant and equipment that are no longer in use or that have no planned use on a long-term basis for the company's business are, where applicable, subject to exceptional depreciation or impairment to bring their valuation into line with their probable realizable value. Long-term financial assets

Financial fixed assets are valued at their acquisition cost and impairments are accounted for in case sustainable minus values are identified considering applicable circumstances, considering expected profitability or perspectives for which the investment or shares are held.

Guarantees are booked at their nominal value.

Write-off are applied to receivables included in financial fixed assets in the event of uncertainty regarding the payment of those on the due date.

Receivables

Receivables are recorded in the balance sheet at their nominal value. Receivables are subject to write-off in the event of uncertainty as to the payment of all or part of the receivable on the due date.

? VALUATION RULES

Receivables are recorded in the balance sheet at their nominal value taking into consideration liabilities recorded in accruals and deferred income on the basis of pro rata temporis of interest:

a. interest conventionally included in the nominal value of the receivables;

b. the difference between the acquisition value and the nominal value of the receivables;

c. the discounting of non-interest-bearing or abnormally low-interest receivables,

Cash and cash equivalents

Cash and cash equivalents are recorded at their nominal value. Write-off are applied if their realizable value is lower than their nominal value on the closing date of the financial year. Additional write-off are booked in the same way as for investments. Accrued charges and deferred income

Income and expenses relating to the financial year or to the previous financial years are taken into account, regardless of the date of payment or collection of such income and expenses, unless the actual collection of such income is uncertain. If income or expenses are significantly influenced by income or expenses attributable to another financial year, this is mentioned in the notes to the accounts.

Statement of liabilities Recoverable advances

Recoverable advances contracted with the Direction Générale d'Aide à la Recherche de la Région Wallonne (DGO6) are recognized as other operating income in the fiscal year in which the Company obtains confirmation of the settlement of the DGO6's claims. When the

VALUATION RULES

Company decides to use the results of the research or development project (decision subject to written notification by the Company to DGO6), the portion of the recoverable cash advance that is repayable at the time of the decision to start using the results of the research or development project independently of sales (i.e. 30% of the recoverable advance) will be recognized as a debt on the balance sheet. The remaining 70% of the amount of the recoverable advance, which is repayable based on sales, will be recorded as an off-balance sheet item.

Accrued charges and deferred revenues

These debts are valued at their nominal value. These debts do not include any long-term debts, either interest-free or with a low interest rate. If this is the case, a discount must be applied to these debts that should be capitalized.

Transactions in foreign currencies

Transactions in foreign currencies are translated at the exchange rate applicable at the date of the transaction.

Non-current assets and shareholders' equity are translated into euros at the historical exchange rate.

Other assets and liabilities in foreign currencies are translated into euros at the exchange rate applicable at the balance sheet date. Realized and unrealized exchange differences are immediately recognized in the income statement.

Cash flow hedges

The effects of changes in the fair value of cash flow hedges are recognized as off-balance sheet commitments and disclosed in the notes to the financial statements. In the case of cash flow hedges (Call & Put; Swaps); premiums received are recorded in an accrual account; changes in financial instruments are recorded in the income statement.

Income and expense recognition

Income and expenses related to the disposal of an asset will be recognized in the year in which the main risks and rewards on the asset are transferred to the purchaser. In principle, the transfer of the main risks and rewards correspond to the transfer of ownership of the asset or, if it is separated from it, to the transfer of the risks of loss or deterioration of the asset.

With respect to the provision of services, the income and expenses related to the provision of services will be allocated to the financial year in which the essential part of the service is performed.

Expenses will be recognized as they are incurred. Invoiced expenses that are related to the following financial year will be accounted for on an deferred charges account on the assets side of the balance sheet.

Justification of the application of the continuity accounting rules

As at December 31, 2022, the Company had cash and cash equivalents of €12 million and financial assets of €77.0 million. Based on cash flow forecasts for the upcoming years, which include significant expenses and cash outflows in relation to -among others- the ongoing clinical trials, the continuation of research and development projects, and the scaling-up of the Company's manufacturing facilities, the Company believes that this cash position will be sufficient to meet the Company's capital requirements and fund its operations for at least 12 months as from the date of this Annual Report.

In view of the above, and notwithstanding a loss brought forward of €112 million as of December 31, 2022, the Board of Directors has decided, after due consideration, that the application of the valuation rules in the assumption of a "going concern" is justified.

SOCIAL BALANCE SHEET

Numbers of the joint industrial committees competent for the company: 218

STATEMENT OF THE PERSONS EMPLOYED

EMPLOYEES FOR WHOM THE COMPANY SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER

During the period	Codes	Total	1. Men	2. Women
Average number of employees
Full-time	1001	27,2	13,2	14,0
Part-time	1002	2,0	1,3	0,7
Total in full-time equivalents (FTE)	1003	28,1	13,6	14,5
Number of actual hours worked
Full-time	1011	44.348	21.765	22.583
Part-time	1012	1.491	519	972
Total	1013	45.839	22.284	23.555
Personnel costs
Full-time	1021	3.195.644,74
Part-time	1022	196.384,05
Total	1023	3.392.028,79	2.078.595,02	1.313.433,77
Benefits in addition to wages	1033	39.235,85	19.220,33	20.015,52

During the preceding period	Codes	P. Total	1P. Men	2P. Women
Average number of employees in FTE	1003	18,5	11,2	7,3
Number of actual hours worked	1013	31.749	19.296	12.453
Personnel costs	1023	2.903.908,01	2.391.309,87	512.598,14
Benefits in addition to wages	1033	27.727,03	17.006,15	10.720,88

EMPLOYEES FOR WHOM THE COMPANY SUBMITTED A DIMONA DECLARATION OR WHO ARE RECORDED IN THE GENERAL PERSONNEL REGISTER (continuation)

	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
At the closing date of the period
Number of employees	105	33	2	34,0
By nature of the employment contract
Contract for an indefinite period	110	33	2	34,0
Contract for a definite period	111
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to gender and study level
Men	120	14	2	15,0
primary education	1200
secondary education	1201	1		1,0
higher non-university education	1202	4		4,0
university education	1203	9	2	10,0
Women	121	19		19,0
primary education	1210	1		1,0
secondary education	1211	5		5,0
higher non-university education	1212	3		3,0
university education	1213	10		10,0
By professional category
Management staff	130	1		1,0
Salaried employees	134	32	2	33,0
Hourly employees	132
Other	133

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE DISPOSAL OF THE COMPANY

During the period	Codes	1. Hired temporary staff	2. Hired temporary staff and personnel placed at the company's disposal
Average number of persons employed	150	0,5
Number of actual hours worked	151	853
Costs to the company	152	34.716,61

LIST OF PERSONNEL MOVEMENTS DURING THE PERIOD

ENTRIES	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
Number of employees for whom the company submitted a DIMONA declaration or who have been recorded in the general personnel register during the period	205	17	2	18,6
By nature of the employment contract
Contract for an indefinite period	210	14	1	14,8
Contract for a definite period	211	3	1	3,8
Contract for the execution of a specifically assigned work	212
Replacement contract	213

DEPARTURES	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
Number of employees whose contract-termination date has been included in the DIMONA declaration or in the general personnel register during the period	305	6	2	7,2
By nature of the employment contract
Contract for an indefinite period	310	3	1	3,8
Contract for a definite period	311	3	1	3,4
Contract for the execution of a specifically assigned work .	312
Replacement contract	313
By reason of termination of contract
Retirement	340
Unemployment with extra allowance from enterprise	341
Dismissal	342	1	1	1,8
Other reason	343	5	1	5,4
Of which: the number of persons who continue to render services to the company at least half-time on a self-employment basis	350

INFORMATION ON TRAINING PROVIDED TO EMPLOYEES DURING THE PERIOD

Total of initiatives of formal professional training at the expense of the employer	Codes	Men	Codes	Women
Number of employees involved	5801		5811
Number of actual training hours	5802		5812
Net costs for the company	5803		5813
of which gross costs directly linked to training	58031		58131
of which contributions paid and payments to collective funds	58032		58132
of which grants and other financial advantages received (to deduct)	58033		58133
Total of initiatives of less formal or informal professional training at the expense of the employer
Number of employees involved	5821		5831
Number of actual training hours	5822		5832
Net costs for the company	5823		5833
Total of initial initiatives of professional training at the expense of the employer
Number of employees involved	5841		5851
Number of actual training hours	5842		5852
Net costs for the company	5843		5853