Typically, energy transformations are \~10% efficient, with about 90% of available energy being lost between trophic levels (the exact values depend on the certain organism’s ability to efficiently capture and use energy).
Most energy is lost to the organism - either used in respiration, released as heat, excreted in faeces or unconsumed.
Consequently, hugher trophic levels strore less energy as carbon compounds and have less biomass. It is because the subsequent trophic levels receive less and less energy from feeding, so they have to eat more to obtain sufficient nutrients. It also causes them to expend more energy hunting for food. Eventually, when the energy required to hunt orey exceeds the energy available from the food eaten, the trophic level becomes unviable - this is why the number of trophic levels is limited.