What was the total current assets for Engel & Volkers in 2023?
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's 2025 Franchise Disclosure Document, the company's total current assets in 2023 were $10,304,538. Current assets are assets that can be converted into cash within one year. These assets are essential for covering short-term liabilities and funding day-to-day operations.
The FDD provides a balance sheet that presents a snapshot of Engel & Volkers's assets, liabilities, and equity at a specific point in time. For prospective franchisees, understanding the composition and value of current assets is crucial. It offers insights into the company's liquidity and its ability to meet its immediate financial obligations.
Specifically, the current assets include cash and cash equivalents, accounts receivable, prepaid commissions, notes receivable, other receivables, prepaid expenses, amounts due from affiliates, and prepaid income taxes. Monitoring these figures over time can reveal trends in Engel & Volkers's financial health and operational efficiency. A substantial increase in current assets year-over-year may indicate improved financial stability, while a decrease could signal potential challenges in managing short-term finances.