Glossary
Income statement
The income statement answers one question: did the business make money in the period? It puts revenue at the top, deducts the costs group by group and ends in the result. Together with the balance sheet and the cash flow statement it is the core of the annual report. In Danish it is the resultatopgørelse.
Updated 21 October 2026
What is an income statement?
An income statement for a quarter can look like this: revenue 450,000 kr., cost of goods 180,000 kr., salaries 150,000 kr., other costs 60,000 kr., result before tax 60,000 kr. The subtotals have names: gross profit after cost of goods, result before interest, result before tax and the year's result.
The income statement is built on the accounts in the chart that are income statement accounts, and it starts again every financial year. It measures earnings, not money in the bank: an invoice counts when it is sent, not when it is paid, and a purchase counts in the period it belongs to.
Income statement in Veneti
In Veneti the report is called Profit and loss and sits under Reporting. You choose the period, view it as one total or as columns per month, and every figure opens to the entries it consists of. The journal's entries are shown beside the booked ones, so a month can be reviewed before it is booked. The result updates as you book, and the same figure appears in the monthly report as PDF, PowerPoint or Excel.
Ask Luca how revenue has developed and get the answer from the books. The accounts behind it: Guide to the chart of accounts.
Related terms
- Balance sheet: the statement of what the business owns and owes.
- Cash flow statement: where the money came from and where it went.
- Financial year: the period the result is made up for.