26. Related party balances and transactions

An overview of the subsidiaries of Precious Woods is presented in Note 32. Details of transactions between the Group and other related parties are disclosed below. Major shareholders holding 3 % or more of Precious Woods Holding are disclosed in Note 24.

a. Balances and transactions

The balances with related parties, as of 31 December 2019 and 2018, are detailed below:

in thousand EUR	2019	2018
Trade receivables and other current receivables from associates	48	5

Trade and other current liabilities from associates	129	224
Current loans from shareholders with significant influence	5 896	6 747
Non-current loans from shareholders with significant influence	22 727	19 754
Non-current financial liabilities from shareholders with significant influence	2 303	1 154

Paid interest expenses to shareholders with significant influence	485	420
Paid interest expenses to other shareholders	51	–

b. Compensation

During the ordinary course of business in 2019 and 2018, the Group granted compensation to related parties as follows:

in thousand EUR	2019	2018
Group Management
Short-term employee benefits	742	715
Post-employment employee benefits	118	110
Total Group Management	859	825
Board of Directors
Short-term employee benefits	205	271
Post-employment employee benefits	10	11
Total remuneration and fees Board of Directors	216	282
Operating management
Short-term employee benefits	702	684
Post-employment employee benefits	77	56
Total operating management	779	740
Total compensation to key management personnel	1 854	1 847

There was no compensation paid regarding long-term benefits, termination benefits or share-based payments.