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Assets, liabilities and equity at a single date. Assets are what you own or are owed; liabilities are what you owe; equity is the difference.
It is a snapshot, not a period. The profit and loss covers a stretch of time; the balance sheet is one day, and a different day may look quite different.
Current assets against current liabilities tells you whether you can meet near-term obligations. Debtors against monthly sales tells you how long customers take to pay.
Stock against cost of sales tells you how long stock sits. These ratios carry the information; the absolute totals mostly do not.
Current assets against current liabilities, then debtor days against your payment terms.
Because profit can sit in debtors and stock. The balance sheet is where that shows.
A material balance in an "other" account, and debtors rising while sales do not.
Half an hour with your own data usually saves reading three of these. The guides will still be here afterwards.