Austria never held the Netherlands. It was held by the spanish Habsburgs.
Austria never held France Comté. This county was held by the spanish Habsburgs too and officially ceded to France in 1678. And given geography, I wonderful how Austria could conquer it.
The only way to have such a map become real would be to change the share of the inheritance between Charles V of Habsburg and his younger brother Ferdinand.
Actually the Habsburgs did.
Philip the Handsome was the son of Maximilian of Austria. Charles V and Ferdinand were the sons of Philip and thus Maximilian's grandchildren.
Charles and Ferdinand briefly ruled the Austrian hereditary lands jointly, which was not uncommon in the Holy Roman Empire, before after some negotiations (and revisions) Charles finally agreed to cede all (but only) the Austrian hereditary lands to his brother Ferdinand.
I don't see Charles giving up the Burgundian lands to his younger brother Ferdinand at the same time, he agreed in giving him the Austrian hereditary lands, since he (Charles) was a native of that region.
As for the Spanish kingdoms they are way to valuable, so as the eldest son he'll keep those too.
Later the daughter of Charles, Mary, married Ferdinand's eldest son Maximilian II. Charles did contemplate to give the Burgundian lands to them, well to his daughter and his nephew would be co-regent.
That might work, since it it would pass from his branch to the other branch of the dynasty as a dowry.
At the same time, the Spanish Habsburgs will keep the duchy of Milan (I know it had extra value to get to the Burgundian territories over land), which the Austrian Habsburgs also had desired (one obvious reason is the proximity to the Austrian Hereditary Lands).
I don't see the Spanish Habsburgs giving up both, but such a ''trade'', IMHO would have been a good compensation.
Not to mention, that the Austrian branch isn't really in the position to centralize the Burgundian lands forcibly. Which ironically increases their chances to keep the region; at one point during the reformation large parts of Austria and Bohemia were protestant IOTL.
I don wonder, if the Austrian Habsburgs with these ATL Burgundian revenues will be in the position to get on the counter offensive against the Ottomans and regain Hungary sooner ITTL. (To be sure, they won't reach Constinople.)