25. Related party balances and transactions

An overview of the subsidiaries of Precious Woods is presented in Note 31. 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 23.

a. Balances and transactions

The balances with related parties, as of 31 December 2020 and 2019, are detailed below:

in thousand EUR	2020	2019
Trade receivables and other current receivables from associates	12	48
Non-current loan to associates	365	–

Trade and other current liabilities to associates	701	129
Current loans from shareholders with significant influence	2 293	5 896
Non-current loans from shareholders with significant influence	27 328	22 727
Non-current financial liabilities from shareholders with significant influence	3 418	2 303

Paid interest expenses to shareholders with significant influence	474	485
Paid interest expenses to other shareholders	–	51

b. Compensation

During the ordinary course of business in 2020 and 2019, the Group granted remunerations to related parties as follows:

in thousand EUR	2020	2019
Board of Directors
Short-term employee benefits	200	205
Post-employment employee benefits	9	10
Total remuneration and fees Board of Directors	209	216
Group Management
Short-term employee benefits	771	742
Post-employment employee benefits	135	118
Total Group Management	906	859
Operating management
Short-term employee benefits	685	702
Post-employment employee benefits	84	77
Total operating management	768	779
Total compensation to key management personnel	1 883	1 854

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