What was the amount of accounts receivable for Engel & Volkers in 2022?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
rehensive loss: | - | - | - | - | (141,272) | (141,272) | | Foreign currency translation | | | | | | | | adjustment | | | | | | | | BALANCE - DECEMBER 31, | 17,143 | $ 171,430 | $ 34,285,342 | $ (17,638,174) | $ (173,649) | $16,644,949 | | 2024 | | | | | | |
ENGEL & VÖLKERS AMERICAS, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income (loss) | $ (4,048,100) | $ 1,761,556 | $ 3,560,109 |
| Adjustments to reconcile net income (loss) to net cash | |||
| provided by operating activities: | |||
| Depreciation and amortization | 2,288,707 | 1,596,741 | 1,002,565 |
| Non-cash lease expense | 422,734 | 432,537 | 467,177 |
| Provision for doubtful accounts | 644,206 | 673,367 | 14,444 |
| Foreign exchange gain on long-term debt | - | - | (15,369) |
| Deferred income taxes | 4,748 | (53,900) | 131,267 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (750,778) | (1,113,744) | 203,349 |
| Prepaid commissions | 41,985 | (269,440) | (20,804) |
| Other prepaid expenses | (63,766) | (361,450) | (108,581) |
| Due from affiliates, net | (1,425,055) | (65,316) | 112,966 |
| Prepaid income taxes | 827,611 | 831,019 | (1,658,630) |
| Notes receivable | 1,064,148 | (789,858) | (160,000) |
| Other receivables | (552,774) | 3,000 | 2,000 |
| Deposits | (34) | (32) | (33) |
| Operating lease liability | (429,737) | (429,737) | (412,994) |
| Accounts payable | (410,404) | 403,164 | (366,207) |
| Accrued expenses and other current liabilities | 2,966,698 | (42,193) | (1,580,465) |
| Contract liabilities | (132,172) | 95,856 | 156,569 |
| Other long-term liabilities | 3,065,357 | - | - |
| Income taxes payable | (301,464) | (796,994) | 1,111,599 |
| Net cash provided by operating activities | 3,211,910 | 1,874,576 | 2,438,962 |
| Cash flows from investing activities: | |||
| Additions to property and equipment | (22,791) | (26,523) | (556,206) |
| Capitalized software costs | (1,853,750) | (1,881,771) | (1,650,544) |
| Net cash used in investing activities | (1,876,541) | (1,908,294) | (2,206,750) |
| Cash used in financing activities: | |||
| Repayment of long-term debt | - | - | (308,760) |
| Effect |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the consolidated statements of cash flows show the changes in operating assets and liabilities. For the year 2022, the accounts receivable had a positive change of $203,349. This increase in accounts receivable means that Engel & Volkers collected less cash from its customers than the revenue it recognized during that period.
Accounts receivable represents the money owed to Engel & Volkers by its customers for services already provided. A higher accounts receivable balance can indicate that the company is extending more credit to its customers or is having difficulty collecting payments promptly. Franchisees should monitor accounts receivable closely, as a significant increase could signal potential cash flow issues.
It is important to note that this figure reflects the change in accounts receivable, not the total amount of accounts receivable held by Engel & Volkers at the end of 2022. To get a complete picture, a prospective franchisee should review the balance sheets included in the FDD or ask Engel & Volkers for the total accounts receivable amount for that year.