Financial statements

Every company of the group is mapped to one group chart of accounts, so all companies report on the same lines. The P&L and Balance sheet tabs of Reports show those lines for each company, for their sum and for the consolidated group. This page explains what the lines and columns mean.

The P&L by nature

P&L — by nature is the default P&L layout. It follows the nature of each cost:

The result line says its tax basis. In interim months many Czech companies book corporate income tax only at the year end, so the line then reads, for example, Net profit before corporate income tax (not booked in interim months). Notes under the table explain the basis per company. Nothing is estimated.

Operational P&Ls

Choose another layout under Filters → Display → Layout:

• P&L — operational (USALI) — the hotel industry's standard P&L: revenue and expenses by department (rooms, food & beverage, other operated departments), departmental profit, the undistributed expenses (administration, marketing, utilities, property operations and maintenance), EBITDA operations (GOP), then insurance and property taxes, HQ costs and EBITDA group, with the hotel statistics and KPIs below. See Hotel statistics and USALI.
• Restaurant management P&L — where a restaurant group has this layout: dine-in food and beverages, take-away and delivery, catering, cost of food and beverages, gross margin, delivery-platform commissions, card fees, labour and labour % of revenue, site costs, EBITDA before group charges, the shared-services fee and EBITDA, with the restaurant statistics.

All layouts read the same mapped books: they group the same amounts differently.

The balance sheet

• Assets (non-current, then current, ending with Cash & cash equivalents), liabilities (current, then non-current) and equity, with Total liabilities & equity and Net assets.
• The years roll forward. The first fiscal year starts from the opening balances in the books. Every later year starts from the previous year's closing balances calculated here, and the previous years' results move into Retained earnings (prior years). The current year's result is shown on its own line, for example Current-year result to 30 September 2026 — click it to open the P&L year to date that produced it.
• Unmapped accounts stay visible. A balance on a local account that is not mapped yet appears on Unmapped local accounts (balance sheet), so the balance sheet still balances and nothing is hidden. Tick Show unmapped accounts under Filters → Display to list them. The P&L has the same line.
• Loans from owners are loans. Loans from shareholders and related parties are shown on their own line, Loans from shareholders & related parties, among the liabilities — never as equity — and apart from bank loans and Intercompany loans payable (non-current).

VAT and other taxes

VAT is always kept apart from the other taxes. Current tax assets and Current tax liabilities are split by tax type into of which corporate income tax, of which VAT, of which payroll taxes and social / health insurance, of which withholding tax and of which other taxes and duties; an amount on a tax account outside these types shows as of which taxes not yet classified, with its account. On the P&L, Income tax is the tax on the company's profit; other taxes and duties sit with insurance under Insurance & non-income taxes in operating expenses.

Signs

With Signs: Natural (the default) revenue is positive and costs negative, so every subtotal is a simple sum; assets, liabilities and equity are positive. Positive shows each cost line as a positive number; the subtotals do not change.

Consolidation columns

The eliminations are journals posted in CFO Panorama by the group's admins and editors; they apply whichever basis you choose. Click a figure in the Eliminations column to see the journals behind it (Drill-down).

Budget and variance

On the P&L, tick Compare with budget under Filters → Compare (one fiscal year, when the group has a budget for it). Budget version chooses the version; the default is the Approved budget. Each period then shows the actual figures, the Budget column and Δ budget (and Δ % budget if you chose Δ % under Change).

• Δ budget = actual − budget, so a positive figure is favourable: more revenue or lower costs than planned. Δ % budget is that difference divided by the budget. With Signs: Positive the heading reads Var (+ favourable) and the meaning stays the same.
• The budget is shown at its own budget exchange rate, never at ČNB rates.
• A company with books but no budget in the chosen version leaves the sum and Group budget cells empty — never a partial total — and Notes names it.

Budgets are uploaded by admins and editors and approved by an admin on the Budgets page. See Budgets.

Investigating an unexpected figure

1. Click the figure. The drill-down lists the group accounts, the company's local accounts and the journal lines behind it. In the Global accounts table, Presented on shows a balance moved to the other side of the balance sheet, for example an overdrawn bank account presented on short-term borrowings.
2. Check the mapping. In the Local accounts table, Origin shows one of mapped explicitly, template default or unmapped for each account. A local account mapped to the wrong group account puts its whole amount on the wrong line. Mappings are dated: each month follows the mapping in force in that month. Admins and editors correct a mapping on the company's Account mapping page; see Account mapping and coverage.
3. Compare the bases. Switch Basis under Filters → Data between Books + adjustments and Books only. If the figure changes, an adjustment or elimination journal is involved; the drill-down's Journals table names it.
4. Check locked or current data. With Data: Locked where available, a locked month shows the figures saved when it was locked, even if the books changed later. The chip beside the period says whether the figures are a locked snapshot, a draft, mixed or live, and a banner opens the restatement bridge when the current books differ. Choose Data: Current to see the books as they are now. See Period locks.
5. Read Notes. Below the table, Notes lists what affects the figures: amounts on unmapped accounts, a continuity break (a later year's opening balances in the books differ from the closing balances calculated here), the tax basis of the result line and more. Errors that make figures incomplete are shown above the table.