ANNUAL RESULTS 2025

Core Insights - Nextensa reported strong financial results for the year 2025, with a net result of €33.2 million, marking a significant recovery from a loss of €10.8 million the previous year, driven by increased profitability from development activities and reduced financing costs [4][12] Financial Performance - The company achieved a profitability increase of €33.8 million, attributed to a €1.8 million rise in development contributions and a €9.2 million decrease in financing costs, alongside a strengthened balance sheet [1][4] - The average cost of financing stabilized at 2.90%, aided by a hedging strategy and reduced financial debt [10] Capital Management - Nextensa executed targeted transactions totaling €360 million during 2024 and 2025, which helped reduce the debt ratio from 45.39% to 38.80%, enhancing financial flexibility [2] - The company has sold over €550 million in assets since its formation in 2021, further lowering the debt ratio to 38% [14] Development Projects - Key development projects include the Lake Side project and BEL Towers, with construction costs estimated at €265 million and €300 million respectively, expected to commence in 2026 [3] - The Proximus HQ at Tour & Taxis has been confirmed as the new headquarters location, with full pre-leasing of the Lake Side office project [5] Rental Income and Property Performance - Like-for-like rental income increased by over 3% year-on-year, reflecting strong performance at Tour & Taxis and contributions from major renovations [6] - The investment property portfolio remained resilient, with limited revaluations despite a volatile market [4] Strategic Outlook - Nextensa is positioned to continue creating sustainable long-term value through disciplined execution and selective investments, despite ongoing economic uncertainties [13] - The company maintains a high-quality development pipeline and sufficient financial headroom for upcoming projects [13]