Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 66

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 4A
Chunk 66
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 thousand, along with a modest salary increase of $37 thousand partially offsetting this increase was
a $68 thousand decrease in costs related to employees' stock options and bonuses.

We expect that our research
and development will not change significantly as we continue to develop our storage units and bGen™ technology.

Selling and Marketing

Selling and marketing expenses
for the year ended December 31, 2024 increased by 4% to $1,197 thousand, compared to $1,148 thousand for the year ended December 31, 2023.
The increase was primarily attributable to an increase of $70 thousand mainly in travel expenses, partially offset by a decrease of $23
thousand in project promotion expenses.

Although we continue to enhance
our market penetration efforts mainly by partnering with local agents in our target markets we expect that our selling and marketing expenses
will not change significantly.

General and Administrative

General and administrative
expenses decreased by 2% to $4,557 thousand for the year ended December 31, 2024, compared to $4,637 thousand for the year ended December
31, 2023. This decrease was primarily attributable to a decrease of $91 thousand in allowances for credit losses, a $52 thousand reduction
in payroll and related costs and a decrease of $56 thousand in depreciation and general administrative expenses. This decrease was offset
by an increase of $111 thousand in payments to consultants and insurance expenses.

Other Income (expenses), net

Other net expenses for the
year ended December 31, 2024 was $234 thousand, which was primarily attributable to the write-off of the remaining value of the Rotem
1 project, compared to other net income of $37 thousand for year ended December 31, 2023 which was primarily attributable to a gain on
the sale of equipment.

Operating Loss

Based on the foregoing, our
operating loss increased from $9,860 thousand for the year ended December 31, 2023 to $10,562 thousand for year ended December 31, 2024.

Financial Income, Net

The net financial income for
the year ended December 31, 2024, was $3,790 thousand, compared to net financial income of $212 thousand for the year ended December 31,
2023. Our net financial income for the year ended December 31, 2024 was primarily attributable to financial income from a fair value adjustment
of warrants of $4,109 thousand, exchange rate differences of