<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Cochlear Ltd -->
          <cik>0001870044</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>4</amendmentNo>
      <securitiesClassTitle>Ordinary Shares</securitiesClassTitle>
      <dateOfEvent>11/20/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001857190</issuerCIK>
        <issuerCUSIP>B6S7WD106</issuerCUSIP>
        <issuerName>Nyxoah SA</issuerName>
        <address>
          <com:street1>Rue Edouard Belin 12</com:street1>
          <com:city>Mont-Saint-Guibert</com:city>
          <com:stateOrCountry>C9</com:stateOrCountry>
          <com:zipCode>1435</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Rob McGrory, General Counsel</personName>
          <personPhoneNum>61-2-9425-5239</personPhoneNum>
          <personAddress>
            <com:street1>Cochlear Limited</com:street1>
            <com:street2>1 University Ave., Macquarie University</com:street2>
            <com:city>New South Wales</com:city>
            <com:stateOrCountry>C3</com:stateOrCountry>
            <com:zipCode>2109</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Cochlear Investments Pty Ltd</reportingPersonName>
        <fundType>AF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>C3</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>5847283.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>5847283.00</sharedDispositivePower>
        <aggregateAmountOwned>5847283.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.59</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>Based on 43,026,460 ordinary shares ("Ordinary Shares") of Nyxoah S.A. (the "Issuer") outstanding, as stated in the Issuer's press release issued on November 20, 2025.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001870044</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Cochlear Ltd</reportingPersonName>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>C3</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>5847283.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>5847283.00</sharedDispositivePower>
        <aggregateAmountOwned>5847283.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.59</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>Based on 43,026,460 Ordinary Shares of the Issuer outstanding, as stated in the Issuer's press release issued on November 20, 2025.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Ordinary Shares</securityTitle>
        <issuerName>Nyxoah SA</issuerName>
        <issuerPrincipalAddress>
          <com:street1>Rue Edouard Belin 12</com:street1>
          <com:city>Mont-Saint-Guibert</com:city>
          <com:stateOrCountry>C9</com:stateOrCountry>
          <com:zipCode>1435</com:zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item5>
        <percentageOfClassSecurities>As of the date hereof, Cochlear Investments directly owns 5,847,283 Ordinary Shares, representing 13.59% of the outstanding Ordinary Shares.</percentageOfClassSecurities>
        <numberOfShares>Cochlear Limited is the parent company of Cochlear Investments. As a result, Cochlear Limited may be deemed to indirectly beneficially own the Ordinary Shares directly held by Cochlear Investments.

The percentage of outstanding Ordinary Shares that may be deemed to be beneficially owned by each Reporting Person is set forth on line 13 of the cover sheet hereof. Such percentage was calculated based on 43,026,460 Ordinary Shares outstanding, as stated in the Issuer's press release issued on November 20, 2025.

The Reporting Persons do not have the right to acquire any additional Ordinary Shares.</numberOfShares>
        <transactionDesc>The reported share amounts for the Reporting Persons reflect amounts as of the date hereof. Other than the purchase by Cochlear Investments Pty Limited of 215,964 Ordinary Shares pursuant to the Issuer's public offering of Ordinary Shares pursuant to the Issuer's prospectus supplement filed with the Securities and Exchange Commission on November 13, 2025, the Reporting Persons have not effected any transactions in the Ordinary Shares during the past 60 days.</transactionDesc>
      </item5>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Cochlear Investments Pty Ltd</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Kristy Jo</signature>
          <title>Kristy Jo/Company Secretary</title>
          <date>11/24/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Cochlear Ltd</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Rob McGrory</signature>
          <title>Rob McGrory/Company Secretary</title>
          <date>11/24/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
</edgarSubmission>
