| BALANCES AND TRANSACTIONS WITH RELATED PARTIES |
NOTE 15 - BALANCES AND TRANSACTIONS WITH RELATED PARTIES a) Controlling Company CVH is the controlling company of Telecom Argentina. b) Balances with Related parties ● | Associates and joint venture |
| | | | | | | CURRENT ASSETS | | | | September 30, | | December 31, | Trade receivables | | | | 2025 | | 2024 | OPH | | Joint venture | | 93 | | 56 | | | | | 93 | | 56 |
| | | | | | | CURRENT LIABILITIES | | | | September 30, | | December 31, | Trade payables | | | | 2025 | | 2024 | La Capital Cable | | Associate | | 373 | | 252 | OPH | | Joint venture | | 1,675 | | 581 | | | | | 2,048 | | 833 | Other liabilities | | | | | | | OPH | | Joint venture | | — | | 3,672 | | | | | — | | 3,672 | NON - CURRENT LIABILITIES | | | | | | | Other liabilities | | | | | | | OPH | | Joint venture | | — | | 3,361 | | | | | — | | 3,361 |
● Other Related parties | | | | | CURRENT ASSETS | | September 30, | | December 31, | Trade receivables | | 2025 | | 2024 | Other related parties | | 2,436 | | 2,287 | | | 2,436 | | 2,287 | Other receivables | | | | | Other related parties | | 3 | | 773 | | | 3 | | 773 | CURRENT LIABILITIES | | | | | Trade payables | | | | | Other related parties | | 13,075 | | 14,812 | | | 13,075 | | 14,812 |
c) Transactions with Related parties ● Associates and joint ventures | | | | | | | | | | | Transaction | | Kind of related party | | Nine month period ended September 30, | | | | | | | 2025 | | 2024 | | | | | | | | Profit (loss) | | | | | | | Revenues | La Capital Cable | | Services revenues and other revenues | | Associate | | 99 | | 188 | Ver TV | | Services revenues and other revenues | | Associate | | — | | 65 | OPH | | Services revenues and other revenues | | Joint venture | | 503 | | 298 | | | | | | | 602 | | 551 | | | | | | | Operating costs | La Capital Cable | | Fees for services | | Associate | | (1,599) | | (962) | | | | | | | (1,599) | | (962) |
● Other Related parties | | | | | | | | | Transaction | | Nine month period ended September 30, | | | | | 2025 | | 2024 | | | | | | Profit (loss) | | | | | Revenues | Other related parties | | Services and advertising revenues | | 4,747 | | 5,331 | | | | | 4,747 | | 5,331 | | | | | Operating costs | Other related parties | | Programming costs | | (33,514) | | (40,423) | Other related parties | | Editing and distribution of magazines | | (2,895) | | (3,998) | Other related parties | | Advisory services | | (8,650) | | (4,839) | Other related parties | | Advertising purchases | | (2,212) | | (1,689) | Other related parties | | Other purchases and commissions | | (7,968) | | (4,756) | | | | | (55,239) | | (55,705) |
The transactions discussed above were made on an arm length transaction basis. When Telecom’s transactions represented more than 1% of its total shareholders’ equity, they were approved according to Law No. 26,831, the Bylaws and the Executive Committees’ Faculties and Performance Regulation.
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