Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1763

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 5
Chunk 1763
---
    $(161) 
    $74  
     (50)%
  
    Total for discontinued operations 
    $(87) 
    $(161) 
    $74  
     (50)%
  
    Total for the period 
    $(677) 
    $(176) 
    $(501) 
     2,847%

Income tax expense for continuing operations increased
by $0.6 million for the year ended December 31, 2024 compared to the same period in 2023 due to the recognition of penalties assessed
for the late filing of the 2023 corporate tax return and late extension filing for the 2024 tax return.

Income tax expense for discontinued operations
decreased by $0.1 million for the year ended December 31, 2024 compared to the same period in 2023. Zonnepark Rilland receives a fixed
payment each month per agreed rates with the customer. In the second quarter of the following year, the customer settles any difference
in the average rates for the prior year and the agreed upon rate for the prior year. This settlement of the rates exceeded the receivables
the company had booked and resulted in extra income recognized in 2022. The additional income received resulted in a higher tax liability
and a balance due in 2022. The balance due was paid at the time of filing in 2023.

59

Impairment Loss Recognized

    Year Ended December 31, 

    2024  
    2023  
    Change ($)  
    Change (%) 

    (in thousands) 
  
    Impairment of Spanish assets 
    $(3,263) 
    $-  
    $(3,263) 
     (100)%
  
    Total for continuing operations 
    $(3,263) 
    $-  
    $(3,263) 
     (100)%

    Discontinued Operations: 

    Impairment loss recognized on the remeasurement to fair value less costs to sell 
    $-  
    $(11,766) 
    $11,766  
     (100)%
  
    Total for discontinued operations 
    $-  
    $(11,766) 
    $11,766  
     (100)%
  
    Total for the period 
    $(3,263) 
    $(11,766) 
    $8,503