What is the difference in total assets between 2023 and 2024 for Engel & Volkers?
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, net of allowances | 2,167,682 | 2,061,110 |
| Prepaid commissions - current | 188,622 | 178,052 |
| Notes receivable - current | - | 1,000,000 |
| Other receivables, net | 552,774 | - |
| Prepaid expenses and other current assets | 1,264,163 | 1,200,397 |
| Due from affiliates, net | 1,284,229 | - |
| Prepaid income taxes | - | 827,611 |
| Total current assets | 11,688,935 | 10,304,538 |
| Property and equipment, net | 379,986 | 541,881 |
| Operating lease right-of-use assets, net | 855,716 | 1,250,662 |
| Other assets: | ||
| Prepaid commissions, net o |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the company's total assets in 2024 were $26,822,688, while in 2023, they totaled $26,366,821. This represents an increase of $455,867 in total assets from 2023 to 2024.
For a prospective franchisee, this information provides a snapshot of the company's financial health and growth. An increase in total assets may indicate positive financial performance and effective management of resources. Franchisees may consider this trend as a positive sign when evaluating the stability and potential of the Engel & Volkers franchise system.
However, it's important to note that this is just one aspect of the company's overall financial picture. A comprehensive analysis would involve examining the balance sheets, income statements, and cash flow statements in detail, as well as understanding the notes to the financial statements. Prospective franchisees should consult with a financial advisor to fully understand the implications of these figures and how they relate to the franchise opportunity.