EXTENSA DEVELOPMENT

Active

Public limited companyfounded 1992active for 34 yearsPicardstraat 11, 1000 Brussel, Belgium50 active companies are registered at this addressKBO/BCE: BE 0446.953.135

Summary

The computed 12-month bankruptcy probability of EXTENSA DEVELOPMENT is 1.7% (moderate). The 2025 annual accounts show negative equity (-€6.7m) and a net result of -€2.2m. Equity is shrinking by about 7.1% per year across the filed financial years. Its solvency ranks better than 5% of 10,995 sector peers (NACE 68, financial year 2025). The company has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow Report Compare

EXTENSA DEVELOPMENTActiveChecked score 53/100

Risk analysis Report Compare

Activity

Development of residential building projects

NACE 68121

1 site

Size

€108,058turnover 2025

Equity: -€6.7m
Loss: -€2.2m

Financial health

53 Fair Checked score 2025

Bankruptcy probabilitywithin 12 months: 1.7%

Structure

Parent: EXTENSA GROUP · 100%

Auditor: Deloitte Bedrijfsrevisoren/Réviseurs d’EntreprisesAccounts 64 days early

Why 53raises riskLoss of €2.2m, the second in a row (financial year 2025)Negative equity -€6.7mLiquidity: current ratio 0.19, cash €213lowers riskSize: turnover €108,058, total assets €530,068Show the evidence

Checked score

Score 2025

53 / 100

Fair

Probability in this band: 1.5% to 4.2%

Financially better than 13% of its sector peers (NACE 68, micro)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Weak

Solvency 0=

equity -1265.7% of total assets

Liquidity 7+7

short-term debt 79.2% · cash 0.0%

Profitability 0=

return on assets -420.5%

Bankruptcy probability, 12 months

1.7% Moderate

0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (26,562 companies, NACE 68, micro)

Last 24 months 11-2024: 2.1% 12-2024: 2.1%● unchanged vs 11-2024 01-2025: 2.2%▲ +0.1 percentage points vs 12-2024 02-2025: 2.2%● unchanged vs 01-2025 03-2025: 2.1%▼ -0.1 percentage points vs 02-2025 04-2025: 2.2%▲ +0.1 percentage points vs 03-2025highest value 05-2025: 2.2%● unchanged vs 04-2025highest value 06-2025: 2.0%▼ -0.2 percentage points vs 05-2025 07-2025: 1.8%▼ -0.2 percentage points vs 06-2025 08-2025: 1.8%● unchanged vs 07-2025 09-2025: 1.8%● unchanged vs 08-2025 10-2025: 1.8%● unchanged vs 09-2025 11-2025: 1.8%● unchanged vs 10-2025 12-2025: 1.8%● unchanged vs 11-2025 01-2026: 1.8%● unchanged vs 12-2025 02-2026: 1.8%● unchanged vs 01-2026 03-2026: 1.8%● unchanged vs 02-2026 04-2026: 1.8%● unchanged vs 03-2026 05-2026: 1.6%▼ -0.2 percentage points vs 04-2026lowest value 06-2026: 1.7%▲ +0.1 percentage points vs 05-2026 07-2026: 1.7%● unchanged vs 06-2026 08-2026: 1.7%● unchanged vs 07-2026 09-2026: 1.7%● unchanged vs 08-2026 10-2026: 1.7%● unchanged vs 09-2026

No credit on open account

Liquidity insufficient (current ratio 0.19, compared with 0.31 in 2024, below 1; short-term debt: 79.2% and cash: 0% of total assets), and equity is negative.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro): better than 5% on solvency, 9% on liquidity, 4% on profitability and 33% on growth.

The bankruptcy probability was computed on 13-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Six signals.

lowers riskraises riskneutral

Loss of €2.2m, the second in a row (financial year 2025)

NBB · annual accounts

Size: turnover €108,058, total assets €530,068

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Negative equity -€6.7m

NBB · annual accounts

Liquidity: current ratio 0.19, cash €213

NBB · annual accounts

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

Equity per financial year

1819202122232425

2018 to 2025 · latest year -€6.7m

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-05-2026, 64 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

64 days early

2024

72 days early

2023

76 days early

2022

46 days early

2021

62 days early

2020

12 days late

2019

53 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 52 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 May (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

13-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

15-07-2026 Resignation: Peter De Durpel (director)Appointment: Olivier Vuylsteke (director) ·…
28-05-2026 Annual accounts filedfinancial year 2025 · abbreviated…
21-01-2026 Capital & shares · RestructuringDemerger · Auditor report ·…

Financials · financial year 2025, abbreviated format

Turnover

€108,058▲ 29.3%

2023 · €83,542

EBIT margin

-92.0%▲ 157.5pp

2023 · -249.4%

Net result

-€2.2m▼ 301%

2024 · -€555,262

Working capital

-€340,054▲ 61.2%

2024 · -€875,456

Trend over the years

Last 5 years All years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result stays negative: a loss of €99,366 in 2025 against €143,672 in 2024; the loss shrinks.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Turnover€0.1m 2025 Operating result-€0.1m 2025 Net result-€2.2m 2025

Sector (middle half)

Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the financial year before

favourable unfavourable

Line20182019202020212022202320242025

Turnover€0.04m-€0.06m▲ 54.4%€0.08m€0.1m

Operating result-€0.4m--€0.3m▲ 16.4%-€0.03m▲ 89.7%-€0.1m▼ 239%-€0.1m▼ 7.6%-€0.2m▼ 79.4%-€0.1m▲ 31.1%-€0.1m▲ 30.8%

Net result-€0.5m--€0.4m▲ 9.7%-€0.2m▲ 61.7%-€0.2m▼ 44.9%-€0.3m▼ 27.2%-€2.9m▼ 891%-€0.6m▲ 81.0%-€2.2m▼ 301%

EBIT margin-944.1%--511.1%▲ 433.0pp-249.4%-92.0%

Equity-€4.1m--€4.6m▼ 10.1%-€4.7m▼ 3.5%-€4.9m▼ 4.9%-€5.2m▼ 5.9%-€5.8m▼ 10.8%-€6.4m▼ 9.6%-€6.7m▼ 5.5%

Total assets€1.2m-€1.4m▲ 10.5%€0.9m▼ 38.2%€1.3m▲ 58.4%€1.0m▼ 29.3%€0.8m▼ 12.8%€0.9m▲ 6.5%€0.5m▼ 40.2%

Debt€5.4m-€5.9m▲ 10.2%€5.6m▼ 6.2%€6.3m▲ 13.1%€6.2m▼ 1.6%€6.6m▲ 7.1%€7.2m▲ 9.2%€7.2m▼ 0.1%

Working capital-€4.7m--€5.2m▼ 9.2%-€5.3m▼ 3.8%-€5.5m▼ 3.7%-€5.8m▼ 4.7%-€6.3m▼ 9.1%-€0.9m▲ 86.2%-€0.3m▲ 61.2%

Solvency-331.5%--330.3%▲ 1.2pp-553.5%▼ 223.2pp-366.6%▲ 187.0pp-549.1%▼ 182.5pp-697.3%▼ 148.2pp-717.6%▼ 20.3pp

Current ratio0.12-0.13▲ 0.010.04▼ 0.090.12▲ 0.080.06▼ 0.060.05▼ 0.020.31▲ 0.270.19▼ 0.12

Return on assets (ROA)-37.0%--30.3%▲ 6.8pp-18.8%▲ 11.5pp-17.1%▲ 1.6pp-30.8%▼ 13.7pp-350.4%▼ 319.6pp-62.6%▲ 287.8pp-420.5%▼ 357.9pp

above within below the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.

Why a figure moved sharply

2024 Net result +81% on 2023. Partial demerger to Extensa Invest I, effective 28-12-2023, in the previous financial year; now counts for a full year for the first time.
2023 Net result -891% on 2022. Partial demerger to Extensa Invest I, effective 28-12-2023.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €530,068

85.0%

15.0%

Fixed assets €450,462 ▼ 7.4%

Current assets €79,606 ▼ 80.1%

Equity and liabilities

Equity-€6.7m

Debt€7.2m

Equity is negative: debt (€7.2m) exceeds the balance-sheet total (€530,068).

Key figures and ratios

2025 value · change against 2024

EBITDA

-€63,240▲

2024 · -€107,546

Cash flow

-€2.2m▼

2024 · -€519,135

Quick ratio

0.19▼

2024 · 0.31

Interest coverage

-0.22▲

2024 · -0.26

Debt ≤ 1 year

€419,660▼

2024 · €1.3m

Debt > 1 year

€6.8m▲

2024 · €6.0m

Income taxes

€1.9m

A ratio outside any meaningful range has been withheld (balance sheet total €530,068, equity -€6.7m).

No debt to equity: equity is negative, so debt divided by equity means nothing.

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 678 companies that looked in July 2024 the way this one looks now, 6.8% went bankrupt within 24 months and 84.5% are still going.

Small
20 years or older
negative equity
a loss of 10% of the balance sheet or more

6.8% went bankrupt

6.2% stopped otherwise

84.5% still going

A further 2.5% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.7% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,468 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group	Expected	Actual
1	0.2%	0.2%
2	0.3%	0.5%
3	0.5%	0.6%
4	0.7%	0.8%
5	0.9%	1.0%
6	1.3%	1.5%
7	1.6%	1.8%
8	1.8%	1.8%
9	3.0%	3.1%
10	5.6%	6.2%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 678 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines

Balance sheet Code20242025

Assets

Total assets20/58€0.9m€0.5m▼

Fixed assets21/28€0.5m€0.5m▼

Tangible fixed assets22/27€0.4m€0.3m▼

Other tangible fixed assets26€0.4m€0.3m▼

Financial fixed assets28€0.1m€0.1m=

Current assets29/58€0.4m€0.08m▼

Stocks and contracts in progress3€1€1=

Stocks30/36€1€1=

Amounts receivable within one year40/41€0.4m€0.08m▼

Trade receivables40€0.04m€0.08m▲

Other amounts receivable41€0.4m€0.001m▼

Cash at bank and in hand54/58€213€213▼

Equity and liabilities

Total equity and liabilities10/49€0.9m€0.5m▼

Equity10/15-€6.4m-€6.7m▼

Contributions10/11€4.5m€2.1m▼

Capital10€4.5m€2.1m▼

Issued capital100€4.5m€2.1m▼

Reserves13€0.009m€0.009m=

Non-distributable reserves130/1€0.008m€0.008m=

Legal reserve130€0.008m€0.008m=

Tax-exempt reserves132€0.001m€0.001m=

Profit (loss) carried forward14-€10.8m-€8.8m▲

Amounts payable17/49€7.2m€7.2m▼

Amounts payable after more than one year17€6.0m€6.8m▲

Other amounts payable178/9€6.0m€6.8m▲

Amounts payable within one year42/48€1.3m€0.4m▼

Trade debts44€0.2m€0.2m▲

Suppliers440/4€0.2m€0.2m▲

Taxes, remuneration and social security45-€0.02m

Taxes450/3-€0.02m

Other amounts payable47/48€1.1m€0.2m▼

Income statement Code20242025

Turnover70-€0.1m

Non-recurring operating income76A€0.007m€0.1m▲

Goods, raw materials, services and sundry goods60/61-€0.2m

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.04m€0.04m=

Other operating charges640/8€0.02m€0.1m▲

Gross operating margin9900-€0.09m€0.08m▲

Operating profit (loss)9901-€0.1m-€0.1m▲

Financial income75/76B-€0.006m

Recurring financial income75-€0.006m

Financial charges65/66B€0.4m€0.3m▼

Recurring financial charges65€0.4m€0.3m▼

Profit (loss) for the period before taxes9903-€0.6m-€0.4m▲

Income taxes67/77-€1.9m

Profit (loss) for the period9904-€0.6m-€2.2m▼

Profit (loss) for the period to be appropriated9905-€0.6m-€2.2m▼

Appropriation of the result

Profit (loss) to be appropriated9906-€8.5m-€8.8m▼

Profit (loss) brought forward from the previous period14P-€7.9m-€6.6m▲

Transfer to equity691/2€2.4m-

Addition to contributions691€2.4m-

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Turnover70	€0.04m	€0.06m	-	-	-	€0.08m	-	€0.1m	-
Non-recurring operating income76A	-	-	-	€0.06m	€0.07m	-	€0.007m	€0.1m	▲ 1,828%
Goods, raw materials, services and sundry goods60/61	-	-	-	-	-	€0.2m	-	€0.2m	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€0.04m	€0.04m	€0.04m	€0.04m	€0.04m	€0.04m	€0.04m	€0.04m	=
Other operating charges640/8	-	-	-	€0.7m	€0.2m	€0.8m	€0.02m	€0.1m	▲ 686%
Gross operating margin9900	-	-	€0.05m	€0.6m	€0.07m	€0.6m	-€0.09m	€0.08m	-
Operating profit (loss)9901	-€0.4m	-€0.3m	-€0.03m	-€0.1m	-€0.1m	-€0.2m	-€0.1m	-€0.1m	▲ 30.8%
Financial income75/76B	-	-	-	€0	€12	-	-	€0.006m	-
Recurring financial income75	-	-	-	€0	€12	-	-	€0.006m	-
Financial charges65/66B	-	-	-	€0.1m	€0.2m	€0.4m	€0.4m	€0.3m	▼ 30.8%
Recurring financial charges65	€0.09m	€0.1m	€0.1m	€0.1m	€0.2m	€0.4m	€0.4m	€0.3m	▼ 30.8%
Debt charges650	€0.09m	€0.1m	-	-	-	-	-	-	-
Profit (loss) for the period before taxes9903	-€0.5m	-€0.4m	-€0.2m	-€0.2m	-€0.3m	-€0.6m	-€0.6m	-€0.4m	▲ 31.9%
Income taxes67/77	-	-	-	-	-	€2.4m	-	€1.9m	-
Profit (loss) for the period9904	-€0.5m	-€0.4m	-€0.2m	-€0.2m	-€0.3m	-€2.9m	-€0.6m	-€2.2m	▼ 301%
Profit (loss) for the period to be appropriated9905	-€0.5m	-€0.4m	-€0.2m	-€0.2m	-€0.3m	-€2.9m	-€0.6m	-€2.2m	▼ 301%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€1.2m	€1.4m	€0.9m	€1.3m	€1.0m	€0.8m	€0.9m	€0.5m	▼ 40.2%
Fixed assets21/28	€0.6m	€0.6m	€0.6m	€0.6m	€0.6m	€0.5m	€0.5m	€0.5m	▼ 7.4%
Tangible fixed assets22/27	€0.6m	€0.5m	€0.5m	€0.5m	€0.4m	€0.4m	€0.4m	€0.3m	▼ 10.0%
Other tangible fixed assets26	-	-	-	€0.5m	€0.4m	€0.4m	€0.4m	€0.3m	▼ 10.0%
Financial fixed assets28	-	€0.05m	€0.1m	€0.1m	€0.1m	€0.1m	€0.1m	€0.1m	=
Current assets29/58	€0.7m	€0.8m	€0.2m	€0.8m	€0.4m	€0.3m	€0.4m	€0.08m	▼ 80.1%
Stocks and contracts in progress3	€1	€1	€1	€1	€1	€1	€1	€1	=
Stocks30/36	-	-	-	€1	€1	€1	€1	€1	=
Amounts receivable within one year40/41	€0.2m	€0.4m	€0.2m	€0.8m	€0.4m	€0.3m	€0.4m	€0.08m	▼ 80.1%
Trade receivables40	-	-	-	€0.5m	€0.1m	€0.01m	€0.04m	€0.08m	▲ 90.9%
Other amounts receivable41	-	-	-	€0.2m	€0.2m	€0.3m	€0.4m	€0.001m	▼ 99.8%
Cash at bank and in hand54/58	-	€37	€261	€481	€195	€124	€213	€213	▼ 0.1%
Deferred charges and accrued income490/1	-	-	-	€0.003m	€0.003m	-	-	-	-
Equity and liabilities
Total equity and liabilities10/49	€1.2m	€1.4m	€0.9m	€1.3m	€1.0m	€0.8m	€0.9m	€0.5m	▼ 40.2%
Equity10/15	-€4.1m	-€4.6m	-€4.7m	-€4.9m	-€5.2m	-€5.8m	-€6.4m	-€6.7m	▼ 5.5%
Contributions10/11	€2.1m	€2.1m	€2.1m	€2.1m	€2.1m	€2.1m	€4.5m	€2.1m	▼ 52.9%
Capital10	-	-	-	€2.1m	€2.1m	€2.1m	€4.5m	€2.1m	▼ 52.9%
Issued capital100	-	-	-	€2.1m	€2.1m	€2.1m	€4.5m	€2.1m	▼ 52.9%
Reserves13	€0.009m	€0.009m	€0.009m	€0.009m	€0.009m	€0.009m	€0.009m	€0.009m	=
Non-distributable reserves130/1	-	-	-	€0.008m	€0.008m	€0.008m	€0.008m	€0.008m	=
Legal reserve130	-	-	-	€0.008m	€0.008m	€0.008m	€0.008m	€0.008m	=
Tax-exempt reserves132	-	-	-	€0.001m	€0.001m	€0.001m	€0.001m	€0.001m	=
Profit (loss) carried forward14	-€6.2m	-€6.7m	-€6.8m	-€7.1m	-€7.4m	-€7.9m	-€10.8m	-€8.8m	▲ 18.5%
Amounts payable17/49	€5.4m	€5.9m	€5.6m	€6.3m	€6.2m	€6.6m	€7.2m	€7.2m	▼ 0.1%
Amounts payable after more than one year17	-	-	-	-	-	-	€6.0m	€6.8m	▲ 14.2%
Other amounts payable178/9	-	-	-	-	-	-	€6.0m	€6.8m	▲ 14.2%
Amounts payable within one year42/48	€5.4m	€5.9m	€5.6m	€6.3m	€6.2m	€6.6m	€1.3m	€0.4m	▼ 67.1%
Trade debts44	€0.6m	€0.3m	€0.2m	€0.3m	€0.4m	€0.3m	€0.2m	€0.2m	▲ 17.6%
Suppliers440/4	-	-	-	€0.3m	€0.4m	€0.3m	€0.2m	€0.2m	▲ 17.6%
Taxes, remuneration and social security45	-	-	-	-	-	-	-	€0.02m	-
Taxes450/3	-	-	-	-	-	-	-	€0.02m	-
Other amounts payable47/48	-	-	-	€6.0m	€5.8m	€6.4m	€1.1m	€0.2m	▼ 80.6%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	-€0.5m	-€0.4m	-€0.2m	-€0.2m	-€0.3m	-€2.9m	-€0.6m	-€2.2m	▼ 301%
+ Depreciation and write-downs630	€0.04m	€0.04m	€0.04m	€0.04m	€0.04m	€0.04m	€0.04m	€0.04m	=
Operating cash flow (approximation)	-€0.4m	-€0.4m	-€0.1m	-€0.2m	-€0.3m	-€2.9m	-€0.5m	-€2.2m	▼ 322%
Investment in fixed assets (approximation)	-	-€0.05m	-€0.07m	€0	€0	-€0	-€0	€11	-
Change in cash	-	-	€224	€220	-€286	-€71	€89	-€0	-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Latest 10 of 34 filings with the National Bank

Financial year	Type	Filed	Reference
31-12-2025	abbreviated format	28-05-2026	2026-00126385
31-12-2024	abbreviated format	20-05-2025	2025-00101172
31-12-2023	abbreviated format	16-05-2024	2024-00090331
31-12-2022	abbreviated format	15-06-2023	2023-00135955
31-12-2021	abbreviated format	30-05-2022	2022-20042122
31-12-2020	abbreviated format	12-08-2021	2021-48300379
31-12-2019	full format	08-06-2020	2020-15600577
31-12-2018	full format	07-06-2019	2019-17300384
31-12-2017	full format	17-07-2018	2018-34500554
31-12-2016	full format	12-06-2017	2017-17200364

Show all 34 filings

Similar companies · same sector and region

"IMMOBEL" OU "COMPAGNIE IMMOBILIERE DE BELGIQUE" OU "IMMOBILIEN VENNOOTSCHAP VAN BELGIE"

AG Real Estate Projects

BE 0632.680.619

Brussel

ARGOS PROJECT MANAGEMENT

This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 9,536 active companies whose main activity is development of residential building projects (NACE 68121), figures are known for 7,336. See the whole sector

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

3 directors, no change since 2026

Board 3

Michel Van Geyte

Director · since 15-11-2021

Current

Tim Rens

Director · since 15-11-2021

Current

Olivier Vuylsteke

Director · since 01-07-2026

Current

Statutory auditor 1

Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises

Statutory auditor · since 16-05-2024 · permanent representative: Ben Vandeweyer

Current

Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ. See the directors and other office holders in the KBO →

Mandate history

12 people since 2005, 4 in office

All 12 In office 4 Ended 8

Board
Statutory auditor
Other function
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
Michel Van Geyte	Director, from 15-11-2021 to date
Tim Rens	Director, from 15-11-2021 to date
Olivier Vuylsteke	Director, from 01-07-2026 to date
Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises	Statutory auditor, from 16-05-2024 to date
Peter De Durpel	Director, from 15-11-2021 to 15-07-2026
Ernst et Young Reviseurs d'Entreprises	Statutory auditor, from 12-11-2007 to 16-05-2024
Kris Verhellen	Director, from before 27-05-2010 to 15-11-2021
Laurent Jacquemart	Director, from 26-05-2016 to 15-11-2021
Ward Van Gorp	Director, from before 27-05-2010 to 15-11-2021
Marnix Van Dooren	Aansprakelijk vertegenwoordiger, until 28-06-2021
Daniël Geerts	Director, from before 27-05-2010 to 30-11-2010
Luc Bertrand	Director, until 27-05-2005

See the board, name and registered office on a given date →

Owners and capital

Owners

1 owner

Chain of control

ACKERMANS & VAN HAAREN 63.39%
NEXTENSA 99.99%
EXTENSA GROUP 100%
EXTENSA DEVELOPMENT

Highest known parent: ACKERMANS & VAN HAAREN. The sources do not say who stands above it.

Owners 1

EXTENSA GROUPparent
Sourceown accounts 2024 accounts EXTENSA GROUP 2024

100%+ 0.01% via subsidiaries

According to the 2024 annual accounts of EXTENSA DEVELOPMENT and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.

Capital and shareholders

Shareholders according to the deeds

Stated in the act act of 21-01-2026 ↗

Extensa Group NV

Stated in the act act of 04-11-2025 ↗

Extensa Group NV all shares

The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.

Capital over the years

04-11-2025 Capital stated in 3 acts · €2,100,000 · 62,988 shares
09-01-2013 Capital increase of €493,000 · to €2,100,000 · in cash
24-10-2005 Capital increase of €951.15 · to €1,607,000 · from reserves

Group and network

Connections & network

6 connected companies

Depth

Shared directors

This company Company Director Shareholding +N: links not shown yet

Linked via shared directors

Extensa Invest I

Shared director

→

LEASELEX

Shared director

→

MONS PROPERTIES

Shared director

→

THE ONE ESTATE

Shared director

→

Show 2 more companies with a shared director

Tour & Taxis Services

Shared director

→

VILVOLEASE

Shared director

→

Acquisitions and mergers

2 transactions

Split off to:Extensa Invest I

BE 0753.977.139partial demerger · proposal · Gazette deed of 21-01-2026 (4 acts)

Split off to:Extensa Invest I

BE 0753.977.139partial demerger · Gazette deed of 13-05-2024 (4 acts) · effective 28-12-2023

History

On 26 March 1992, EXTENSA DEVELOPMENT was incorporated.¹ The capital was increased 2 times between 2005 and 2013, most recently to €2.1m.²³ In 2022 the registered office moved to Brussel.⁴ Of the 3 current board members, 2 have served since 2021.⁵ Turnover went from €83,542 in 2023 to €108,058 in 2025.⁶

Acts, filings and financial milestones

All 37Financial 1Gazette 26Filings 10

Next filing, financial year 2026, expected by 31-07-2027

2026

15-07

Gazette deed Resignation: Peter De Durpel (director)

Appointment: Olivier Vuylsteke (director) · Power of attorney9 facts ▸

General meeting, 23-06-2026
Director resignation, Peter De Durpel (director)
Director appointment, Olivier Vuylsteke (director)
Board composition, Michel Van Geyte (director)
Board composition, Tim Rens (director)
Board composition, Olivier Vuylsteke (director)
Power of attorney, Anouk Kerkhofs
Power of attorney
Other provision, “afstand van aansprakelijkheid en schadeloosstelling lasthebbers, afstand van elke aansprakelijkheidsvordering ten aanzien van lasthebber(s) en plaatsvervangers/…” (deed in Dutch)

28-05

NBB filing Annual accounts filed

financial year 2025 · abbreviated format

21-01

Gazette deed Capital & shares · Restructuring

Demerger · Auditor report · Real estate18 facts ▸

General meeting, 22-12-2025
Demerger, “partiele splitsing, Afgesplitste Vermogen” (deed in Dutch)
Other provision, “BERAADSLAGING-BESLISSINGEN, agenda aangevat na beraadslaging” (deed in Dutch)
Other provision, “Verzaking aan opmaak splitsingsverslaggeving, EERSTE BESLISSING” (deed in Dutch)
Other provision, “Kennisname van documenten en verslagen, TWEEDE BESLISSING” (deed in Dutch)
Auditor report, “exclusive shareholders,articles 7:197,7:179 CSA”, 29.41 (deed in Dutch)
Other provision, “Wijzigingen in de vermogenstoestand, DERDE BESLISSING” (deed in Dutch)
Demerger, “Verrichting met splitsing gelijkgesteld-Overgang ten algemene titel, goedkeuring splitsingsvoorstel en partiele splitsing zonder vereffening” (deed in Dutch)
Other provision, “beschrijving afgesplitste vermogen, D5-D10” (deed in Dutch)
Real estate, “eigendomsovergang onroerende goederen en onroerende zakelijke rechten” (deed in Dutch)
Other provision, “kosten gedragen door Partieel te Splitsen Vennootschap respectievelijk Verkrijgende Vennootschap,elk ten belope van door henzelf gemaakte kosten, kostenverdelin…” (deed in Dutch)
Share issue, “afgerond naar lagere eenheid, rechtstreeks aan enige aandeelhouder van Partieel te Splitsen Vennootschap” (deed in Dutch)
+6 further facts in this act

2025

04-11

Gazette deed Miscellaneous

Merger · Capital · Shareholding26 facts ▸

Merger, “partiele splitsing door overneming, een deel van het vermogen, zowel de rechten als de verplichtingen, van de partieel te splitsen vennootschap zal overgaan op…” (deed in Dutch)
Other provision, “context van de verrichting, Luxemburgse partner” (deed in Dutch)
Other provision, “structuur van het project, vastgoedcertificaten” (deed in Dutch)
Other provision, “tracking shares, 'tracking shares' uitgegeven door Gasperich Invest SCSp” (deed in Dutch)
Other provision, “overdracht bij splitsing, tracking shares die de belangen vertegenwoordigen in de vastgoedcertificaten uitgegeven door het feedercompartiment van Grossfeld PAP…” (deed in Dutch)
Other provision, 10-09-2020
Other provision, 19-08-2024
Capital, €88,294,293.84
Other provision, 26-03-1992
Other provision, 01-06-2021
Capital, €2,100,000
Shareholding, Extensa Group NV (2 times)
+14 further facts in this act

20-05

NBB filing Annual accounts filed

financial year 2024 · abbreviated format

2024

06-06

Gazette deed Resignation: Ernst & Young Bedrijfsrevisoren BV (statutory auditor)

Appointment: Deloitte Bedrijfsrevisoren BV (statutory auditor) · Permanent representative: Ben Vandeweyer4 facts ▸

General meeting, 16-05-2024
Auditor resignation, Ernst & Young Bedrijfsrevisoren BV (statutory auditor)
Auditor appointment, Deloitte Bedrijfsrevisoren BV (statutory auditor)
Permanent representative, Ben Vandeweyer

16-05

NBB filing Annual accounts filed

financial year 2023 · abbreviated format

13-05

Gazette deed Capital & shares · Restructuring

Demerger · Share issue · Accounting effect4 facts ▸

General meeting, 28-12-2023
Demerger, “partial split by contribution”, €25,796,905.40 (deed in Dutch)
Share issue, 385544, “compensation for partial split contribution” (deed in Dutch)
Accounting effect, 28-12-2023

2023

31-12

Financial Weakest financial yearnet -€2.9m

Net result drops to -€2.9m, the lowest in the series; recovery starts the following year.

10-11

Gazette deed Restructuring

Appointment: EY Bedrijfsrevisoren - EY Bedrijfsrevisoren - EY Réviseurs d'Entreprises (commissaris voor het opstellen van het verslag betreffende de inbreng in natura) · Demerger · Capital8 facts ▸

Demerger, “partielle splitsing door overneming”, €25,796,905.40 (deed in Dutch)
Capital, €57,851,136.40
Capital, €2,100,000
Share issue, 385544, “vergoeding voor de overdracht van de specifieke elementen van de activa en passiva van de partieel gesplitste vennootschap” (deed in Dutch)
Auditor appointment, EY Bedrijfsrevisoren - EY Bedrijfsrevisoren - EY Réviseurs d'Entreprises (commissaris voor het opstellen van het verslag betreffende de inbreng in natura)
Ownership, “enige aandeelhouder” (deed in Dutch) (2 times)
Ownership, “100% aandeelhouder” (deed in Dutch)
Real estate, “bezit geen onroerende goederen of andere zakelijke rechten op onroerende goederen” (deed in Dutch)

15-06

NBB filing Annual accounts filed

financial year 2022 · abbreviated format

06-06

Gazette deed Reappointment: Ernst & Young Bedrijfsrevisoren BV (statutory auditor)

Permanent representative: Christophe Boschmans3 facts ▸

General meeting, 18-05-2023
Auditor reappointment, Ernst & Young Bedrijfsrevisoren BV (statutory auditor)
Permanent representative, Christophe Boschmans

Show earlier events

2022

30-05

NBB filing Annual accounts filed

financial year 2021 · abbreviated format

31-03

Gazette deed Resignation: Marnix Van Dooren (aansprakelijk vertegenwoordiger)

Permanent representative: Joeri Klaykens · Registered-office move5 facts ▸

General meeting, 28-02-2022
Director resignation, Marnix Van Dooren (aansprakelijk vertegenwoordiger)
Permanent representative, Joeri Klaykens
Board meeting, 14-03-2022
Registered-office move, Picardstraat 11, bus 505, 1000 Brussel

24-02

Gazette deed Resignations: Kris Verhellen, Laurent Jacquemart and Ward Van Gorp

Appointments: Michel Van Geyte, Peter De Durpel and Tim Rens · Director discharge · Mandate compensation13 facts ▸

General meeting, 22-12-2021
Director resignation, Kris Verhellen (director)
Director resignation, Laurent Jacquemart (director)
Director resignation, Ward Van Gorp (director)
Director discharge, Kris Verhellen
Director discharge, Laurent Jacquemart
Director discharge, Ward Van Gorp
Director appointment, Michel Van Geyte (director)
Director appointment, Peter De Durpel (director)
Director appointment, Tim Rens (director)
Mandate compensation, Michel Van Geyte
Mandate compensation, Peter De Durpel
+1 further fact in this act

2021

12-08

NBB filing Annual accounts filed

financial year 2020 · abbreviated format · 12 days late

24-06

Gazette deed Amendment of the articles

Capital3 facts ▸

General meeting, 01-06-2021
Amendment of the articles
Capital, €2,100,000

2020

13-07

Gazette deed Reappointments: Laurent Jacquemart (director) and EY bedrijfsrevisoren SRL (statutory auditor)

Permanent representative: Marnix Van Dooren · Mandate compensation5 facts ▸

General meeting, 28-05-2020
Director reappointment, Laurent Jacquemart (director)
Mandate compensation, Laurent Jacquemart
Auditor reappointment, EY bedrijfsrevisoren SRL
Permanent representative, Marnix Van Dooren

08-06

NBB filing Annual accounts filed

financial year 2019 · full format

2019

07-06

NBB filing Annual accounts filed

financial year 2018 · full format

2018

07-08

Gazette deed Reappointments: Kris VERHELLEN (director) and Ward VAN GORP (director)

Mandate compensation4 facts ▸

Director reappointment, Kris VERHELLEN (director)
Director reappointment, Ward VAN GORP (director)
Mandate compensation, Kris VERHELLEN
Mandate compensation, Ward VAN GORP

17-07

NBB filing Annual accounts filed

financial year 2017 · full format

2017

25-08

Gazette deed Reappointment: Ernst & Young Bedrijfsrevisoren BCVBA (statutory auditor)

Permanent representative: Marnix Van Dooren · Power of attorney · Legal representative6 facts ▸

General meeting, 26-05-2017
Auditor reappointment, Ernst & Young Bedrijfsrevisoren BCVBA
Power of attorney, Katleen Dreher
Power of attorney, Britt Vanderschrick
Legal representative, “rechtsgeldig vertegenwoordigd” (deed in Dutch)
Permanent representative, Marnix Van Dooren

12-06

NBB filing Annual accounts filed

financial year 2016 · full format

2016

19-09

Gazette deed Appointment: Ernst & Young Bedrijfsrevisoren BCVBA (statutory auditor)

Permanent representative: Manix Van Dooren · Resignation: Patrick Rottiers (statutory auditor)4 facts ▸

Board meeting, 17-08-2016
Auditor appointment, Ernst & Young Bedrijfsrevisoren BCVBA (statutory auditor)
Permanent representative, Manix Van Dooren
Auditor resignation, Patrick Rottiers (statutory auditor)

22-06

Gazette deed Appointment: Laurent Jacquemart (director)

Mandate compensation5 facts ▸

General meeting, 26-05-2016
Director appointment, Laurent Jacquemart (director)
Mandate compensation, Laurent Jacquemart
Board composition, Kris Verhellen (director)
Board composition, Ward Van Gorp (director)

2014

26-06

Gazette deed Reappointments: Kris Verhellen, Ward Van Gorp and Ernst & Young Bedrijfsrevisoren BCVBA

Mandate compensation · Power of attorney8 facts ▸

General meeting, 30-05-2014
Director reappointment, Kris Verhellen (director)
Director reappointment, Ward Van Gorp (director)
Mandate compensation, Kris Verhellen
Mandate compensation, Ward Van Gorp
Auditor reappointment, Ernst & Young Bedrijfsrevisoren BCVBA (statutory auditor)
Mandate compensation, Ernst & Young Bedrijfsrevisoren BCVBA
Power of attorney, Patrick Rottiers

2013

09-01

Gazette deed Capital & shares · Amendment of the articles

Capital increase · Capital4 facts ▸

General meeting, 14-12-2012
Capital increase, €493,000
Capital, €2,100,000
Amendment of the articles (2 times)

2011

09-08

Gazette deed Reappointment: Ernst & Young Bedrijfsrevisoren BCVBA (statutory auditor)

Permanent representative: Patrick Rottiers3 facts ▸

General meeting, 26-05-2011
Auditor reappointment, Ernst & Young Bedrijfsrevisoren BCVBA
Permanent representative, Patrick Rottiers

2010

30-12

Gazette deed Resignation: Daniël Geerts (director)

2 facts ▸

General meeting, 30-11-2010
Director resignation, Daniël Geerts (director)

05-07

Gazette deed Reappointments: Kris Verhellen, Daniël Geerts and Ward Van Gorp

Mandate compensation7 facts ▸

General meeting, 27-05-2010
Director reappointment, Kris Verhellen (director)
Director reappointment, Daniël Geerts (director)
Director reappointment, Ward Van Gorp (director)
Mandate compensation, Kris Verhellen
Mandate compensation, Daniël Geerts
Mandate compensation, Ward Van Gorp

2007

31-12

Gazette deed Resignation: Jan De Landsheer (statutory auditor)

Appointment: Ernst & Young Bedrijfsrevisoren BCVBA (statutory auditor) · Permanent representative: Patrick Rottiers4 facts ▸

Board meeting, 19-11-2007
Auditor resignation, Jan De Landsheer (statutory auditor)
Auditor appointment, Ernst & Young Bedrijfsrevisoren BCVBA (statutory auditor)
Permanent representative, Patrick Rottiers

25-06

Gazette deed Resignations & appointments

Power of attorney3 facts ▸

Board meeting, 05-03-2007
Power of attorney, Kris Verhellen
Power of attorney, Daniël Geerts

2006

14-08

Gazette deed Resignations & appointments

Power of attorney4 facts ▸

Board meeting, 20-07-2006
Power of attorney
Power of attorney, Kristof De Vree (2 times)
Power of attorney, Kris Verhellen

23-01

Gazette deed Permanent representative: DE LANDSHEER Jan

2 facts ▸

Board meeting, 14-12-2005
Permanent representative, DE LANDSHEER Jan

2005

24-10

Gazette deed Capital & shares · Amendment of the articles

Capital increase3 facts ▸

General meeting, 29-09-2005
Capital increase, €951.15
Amendment of the articles (5 times)

10-06

Gazette deed Resignation: Luc Bertrand (director)

Reappointment: Ernst & Young Bedrijfsrevisoren (statutory auditor) · Mandate term3 facts ▸

Director resignation, Luc Bertrand (director)
Director reappointment, Ernst & Young Bedrijfsrevisoren (statutory auditor)
Mandate term, “drie jaar” (deed in Dutch)

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 34 annual accounts filed, the latest 10 are here; all 34 are under Financials.

26 of 26 deeds read

Register details

Identification

Legal formPublic limited company

Founded26-03-1992

Financial year end31-12

Activities, NACEBEL 2025

68121Development of residential building projects

68203Renting and operating of own or leased non-residential real estate, excluding land

E-invoicing

Reachable via Peppol

Peppol ID 0208:0446953135

Registered 08-01-2026

If you follow this company, Checked tells you the day it leaves the Peppol register.

Scores and ratios are computed by Checked and are not a credit decision.

Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0446.953.135

Environmental permits

2 applications in Flanders since 2019 · 2 granted

Hoogstammige bomen vellen die geen deel uitmaken van een bos; Nieuwbouw of aanleggen; Verbouwen / Wijzigen Infrastructuur

Granted on 07-05-2020submitted 17-12-2019authority: Provincie Vlaams-Brabantproject 2019120456

Bouwen of herbouwen; Hoogstammige bomen vellen die geen deel uitmaken van een bos; Nieuwbouw of aanleggen; Ontbossen

Granted on 19-03-2020submitted 16-12-2019authority: Zoutleeuwproject 2019101279

Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint

Registered office, Brussel · 1 establishment unit since 1992

registered office establishment The establishment unit on the map

Ground area

4.4 ha

Building footprint

3.9 ha

Building volume

615,702 m³

Parcel 21814P0441/00B000, Brussels · tallest building 34.0 m. Linked by address, not a title deed.

50 companies at this address See who is registered here

1 establishment unit

EXTENSA DEVELOPMENT

Picardstraat 11, 1000 BrusselRenting and operating of own or leased residential real estate, excluding social housing

since 1992unit no. 2.057.100.972

1 parcel

Brussels 1 (100%)

Cadastral parcel	Region	Area	Buildings	Height / floors
21814P0441/00B000	Brussels	4.4 ha	1 · 3.9 ha	34.0 m · 6

How the parcels are linked

Good to know

The parcel matches the address exactly.

Articles of association

Purpose: “Alle ondernemingen van openbare, private en bijzondere werken, opmaken van plans en bestekken en alles wat hiermede rechtstreeks of…” (deed in Dutch)
5 activities (deed in Dutch)
Alle ondernemingen van openbare, private en bijzondere werken, opmaken van plans en bestekken en alles wat hiermede rechtstreeks of onrechtstreeks verband houdt.
Het bouwen, kopen en verkopen, hetzij voor eigen rekening, hetzij voor rekening van derden, van gebouwen, materieel en alle andere eigendommen, de uitbating en de verkoop van alle roerende en onroerende eigendommen, van alle bouwmaterialen, in één woord, van alle verhandelingen eigen aan de handel, de bouw-, scheepvaart- en transportindustrie, het kopen en verkopen van gronden en alle financiële verhandelingen.
De vennootschap mag als bestuurder optreden in andere vennootschappen.
De vennootschap mag ook belangstellen in andere uitbatingen, wier voorwerp rechtstreeks of onrechtstreeks in verband staat met haar eigen voorwerp en die haar producten kunnen bezorgen of haar eigen voorwerp vergemakkelijken.
Zij mag alle bewerkingen en verhandelingen doen welke van aard zouden kunnen zijn één der voorwerpen te vergemakkelijken of uit te breiden.
The full purpose is in the deed
deed of 04-11-2025
Other provisions: 1 more provision in the deed, see the deed of 15-07-2026

Read from the deeds: 2 provisions, deed of 15-07-2026