What was the total value of Engel & Volkers' accounts payable in 2024?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 of current | 874,038 | 926,593 |
| Notes receivable, net of current and allowances | 165,710 | 229,858 |
| Deposits | 324,000 | 323,966 |
| Intangible assets, net | 8,321,404 | 8,930,287 |
| Capitalized software, net | 3,140,323 | 2,781,712 |
| Deferred income taxes, net | 1,072,576 | 1,077,324 |
| Total other assets | 13,898,051 | 14,269,740 |
| TOTAL ASSETS | $ 26,822,688 | $ 26,366,821 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the company's accounts payable totaled $399,426 in 2024. Accounts payable are categorized as current liabilities on the balance sheet. In comparison, the accounts payable in 2023 were $809,830.
For a prospective franchisee, understanding the accounts payable is crucial as it reflects the company's short-term obligations to its suppliers and vendors. A significant change in accounts payable from one year to another, as seen between 2023 and 2024, could indicate shifts in Engel & Volkers' payment practices, supplier relationships, or overall financial management. Franchisees should consider this information in the context of the company's overall financial health and stability.
Reviewing the trend in accounts payable, alongside other financial metrics, helps potential franchisees assess the financial risks and opportunities associated with investing in an Engel & Volkers franchise. It is advisable to discuss these figures with a financial advisor to gain a comprehensive understanding of their implications.