Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Related Party Balances and Transactions

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Related Party Balances and Transactions
12 Months Ended
Dec. 31, 2023
Related Party Balances and Transactions [Abstract]  
Related party balances and transactions
25. Related party balances and transactions

 

The following balances were outstanding as of December 31, 2023, 2022 and 2021, respectively, which are at market value:

 

Trade account receivables from related parties   2023     2022     2021  
                   
Campalier, S.A. de C.V. (shareholder)   Ps. 104      
       -
     
-
 
Fundación Betterware., A.C. (affiliated)    
-
      61       24  
      104       61       24  

 

Trade account payables to related parties   2023     2022     2021  
                         
Campalier, S.A. de C.V. (shareholder)   Ps.
      -
      96,859      
-
 

 

On June 23, 2022, our subsidiary Programa Lazos, as borrower, entered into a loan agreement for an amount of Ps.150,000 with Campalier, as lender. As of December 31, 2022, Lazos had withdrawn Ps.120,000 under such loan. Principal amount beared a monthly variable interest rate of TIIE plus 349 basis points, and it did not contain a specific maturity date. On August 31, 2023, Programa Lazos replaced the total amount of the loan that had with Campalier by Ps.122,500 million by a loan with Betterware de Mexico as a lender, bearing a monthly interest rate of TIIE plus 349 basis points.

 

In October 2023, Betterware de México, S.A.P.I. de C.V. and Campalier, S.A. de C.V., signed a services agreement in which Betterware undertakes to provide Campalier with specialized services agreed to comparable market conditions, such as: consulting, accounting and financial advice, with monthly payments. The total amount paid during the year was Ps.222.

 

Trading transactions

 

    2023     2022     2021  
Revenues / expenses to Betterware with:     Lease
income
      Donation
expenses
      Lease
income
      Donation
expenses
      Lease
income
      Donation
expenses
 
                                                 
Fundación Betterware., A.C.   Ps. 63       5,430       63       3,350       42       920  

 

  2023     2022  
Revenues to Betterware / Expenses to Lazos with:   Services
revenue
    Interest
expenses
    Interest
expenses
 
                         
Campalier, S.A. de C.V.   Ps. 222       5,064       7,479  

 

Remuneration of key management personnel –

 

Key management personnel compensation comprised short-term employee benefits of Ps.62,574, Ps.47,265 and Ps.42,170, for the years 2023, 2022 and 2021, respectively. At the end of each period, there are no outstanding balances.