What was the net value of intangible assets for Engel & Volkers as of December 31, 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, 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 | - |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the consolidated balance sheets detail the company's assets. As of December 31, 2024, Engel & Volkers' net intangible assets are listed in the provided table.
Based on the table, the net value of Engel & Volkers' intangible assets as of December 31, 2024, was $3,788,238. This figure represents the value of assets that are not physical, such as brand recognition, trademarks, and intellectual property, after accounting for amortization.
For a prospective Engel & Volkers franchisee, understanding the value and amortization of intangible assets is crucial. Amortization expense on intangible assets was $608,883 for the year ended December 31, 2024. These figures provide insight into the financial management and valuation of Engel & Volkers' non-physical assets, which are essential for its brand and market position.