What was the amount due from affiliates, net, for Engel & Volkers in 2024?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
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Melville, New York
March 6, 2025
ENGEL & VÖLKERS AMERICAS, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2024 AND 2023
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 6,231,465 | $ 5,037,368 |
| Accounts receivable |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the amount due from affiliates, net, was $1,284,229 as of December 31, 2024. This figure is listed as a current asset on the consolidated balance sheets. In comparison, the amount due from affiliates, net, as of December 31, 2023, was zero.
This "Due from affiliates, net" entry on the balance sheet reflects transactions between Engel & Volkers and its related entities. These transactions can include IT support agreements with Engel & Völkers Technology GmbH, marketing and support agreements with Grund Genug, and the payment/reimbursement of administrative expenses between Engel & Volkers and its affiliates.
Specifically, the FDD mentions that at December 31, 2024, $250 was outstanding from Engel & Völkers Technology and is included in "Due from affiliates, net." Additionally, $1,500,000 was outstanding from E&V GmbH related to a settlement agreement. Also, $121,871 remains payable and is included in "Due from (to) affiliates, net" related to royalty fees. Understanding these related-party transactions is important for a prospective franchisee to assess the financial relationships within the Engel & Volkers organization.