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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.