Making a profit in a single year absolutely does not offset losses of the last years. If I record a loss of $10 every year for 10 years, I have lost $100 dollars. If I record a profit of $20 finally, I still have to make a profit of $80 before I even break even.

Honestly, did you not understand that basic accounting or did you just type quickly without thinking.

This is a really good example of why basic economics or even an intro to business accounting needs to be mandatory in high school. Otherwise we end up with people voting on economic policy based on complete ignorance and clickbait like this headline.

I don't understand what you mean by "all losses of the past are account in that." My understanding is they made a profit this year means the difference in the money they earned and the spent, starting January 1st 2018 and ending January 1st 2019, was greater than $0.