According to Ohio State University, net fixed assets on a balance sheet are the book value of a company's long-term assets, such as property, vehicles or equipment. The net fixed asset value is calculated by taking the gross asset value, or purchase price, and subtracting the accumulated depreciation of value.
Investopedia notes that fixed assets are assets owned by a company that are not expected to be consumed during the production of goods or converted into cash in less than a year from the initial purchase.
Net fixed assets appear in the asset section of a company's balance sheet, notes the United States Securities and Exchange Commission. Assets as a whole are the things that a company owns and can use to either create a cash value for the company or to create a products to be sold. On a company's balance sheet, assets are generally listed in the order in which they are expected to generate cash.
The SEC notes that fixed assets may be listed as a part of noncurrent assets, or assets that the company does not expect to generate a profit from within a year. Fixed assets are often listed last among a company's assets on a balance sheet because they are long-term assets rather than short-term investments, such as inventory.