Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1635

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 4
Chunk 1635
---
,163)
  
    Consolidated Net Loss 
    $21,078  
    $(69,464)

One customer represented 100%
of continuing operational revenues during the year ended December 31, 2024 compared to two customers that represented 86% for the year
ended December 31, 2023. The revenues from these customers accounted for $0.3 million and $3.0 million of revenue for the year ended December
31, 2024 and 2023, respectively.

Five customers represented
76% of the discontinued operational revenues during the year ended December 31, 2024 compared to four customers that represented 84% for
the year ended December 31, 2023. The revenues from these customers accounted for $7.7 million and $25.7 million of revenue for the year
ended December 31, 2024 and 2023 respectively.

F-51

    24.
    Income Tax Provision

    Year Ended December 31, 
  
    Major Components of Tax Expense/(Income) 
    2024  
    2023 

    (in thousands) 
  
    Current tax expense 
    $677  
    $15 
  
    Deferred tax expense 
     -  
     - 
  
    Actual income tax expense (benefit) 
    $677  
    $15 

Explanation of the relationship
between tax expense and accounting profit:

    Year Ended December 31,

    2024

    2023

    (in thousands)

    Accounting profit before tax
     
    $
    21,756

    $
    (53,637
    )
  
    Tax at the applicable rate of 21%

    4,569

    (11,263
    )
  
    State income taxes, net of federal benefit

    (710
    )

    -

    Permanent items

    380

    5,852

    Tax effect of differences in foreign tax rates

    (4,747
    )

    2,622

    Other

    1,398

    302

    Change in valuation allowance

    (213
    )

    2,502

    Actual income tax expense/(benefit)
     
    $
    677

    $
    15

The tax effects of temporary
difference and carryforwards that give rise to significant portions of the net deferred tax assets were as follows:

    Year