diff --git a/README.md b/README.md
index cf677ab..4d58ab4 100644
--- a/README.md
+++ b/README.md
@@ -1,5 +1,71 @@
-# **Hledger** Plugin
+# **hledger** Plugin
 
-**Plugin Summary**
+Render [hledger](https://hledger.org) journal reports inside Discourse topics.
 
-For more information, please see: **url to meta topic**
+Put an hledger journal in a fenced `hledger` code block in a topic's first
+post. The block is replaced by a dashboard with four reports, generated live
+by the `hledger` command line tool:
+
+- Accounts and balances
+- Balance sheet
+- Income statement
+- Equity distribution (contributed capital, not legal ownership)
+
+## Installation
+
+Follow the [plugin installation guide](https://meta.discourse.org/t/install-a-plugin/19157).
+
+The plugin requires the `hledger` executable on the server. Install it with
+your package manager (for example `apt-get install hledger`) and point the
+`hledger path` site setting at it if it is not on the default `PATH`.
+
+### Docker development environment
+
+Inside the Discourse dev container, install the plugin's system dependencies
+(hledger, Chromium and the Playwright browser used by the test suite) with:
+
+```sh
+docker exec -u root discourse_dev bash /src/plugins/hledger/bin/setup-dev
+```
+
+## How to use
+
+1. Enable the plugin under `Admin > Settings > Plugins` (`hledger enabled`).
+2. Add an hledger journal to the first post of a topic:
+
+   ````
+   ```hledger
+   2024-01-01 Opening balances
+       assets:bank:checking       1000.00 EUR
+       equity:alice               -600.00 EUR
+       equity:bob                 -400.00 EUR
+   ```
+   ````
+
+3. The code block is replaced by the report dashboard. Reports can be filtered
+   by a start and end date; the end date is inclusive.
+
+Reports are generated on demand and cached per post revision, so editing the
+journal refreshes them.
+
+## Security
+
+Journals are untrusted input. The plugin runs `hledger` with a scrubbed
+environment, a private working directory, a hard timeout, resource limits and
+an output cap, and it rejects `include` directives so a journal cannot read
+arbitrary server files.
+
+## Development
+
+```sh
+# Ruby specs (run `bin/setup-dev` first for the integration specs)
+bin/rspec plugins/hledger/spec/lib plugins/hledger/spec/requests
+bin/rspec plugins/hledger/spec/system
+
+# Frontend tests
+DISCOURSE_DISABLE_BROWSER_SANDBOX=1 bin/qunit plugins/hledger/test/javascripts
+```
+
+## License
+
+MIT
diff --git a/app/controllers/hledger/examples_controller.rb b/app/controllers/hledger/examples_controller.rb
deleted file mode 100644
index 4a00d88..0000000
--- a/app/controllers/hledger/examples_controller.rb
+++ /dev/null
@@ -1,11 +0,0 @@
-# frozen_string_literal: true
-
-module ::Hledger
-  class ExamplesController < ::ApplicationController
-    requires_plugin PLUGIN_NAME
-
-    def index
-      render json: { hello: "world" }
-    end
-  end
-end
diff --git a/app/controllers/hledger/reports_controller.rb b/app/controllers/hledger/reports_controller.rb
new file mode 100644
index 0000000..bdea383
--- /dev/null
+++ b/app/controllers/hledger/reports_controller.rb
@@ -0,0 +1,111 @@
+# frozen_string_literal: true
+
+module ::Hledger
+  class ReportsController < ::ApplicationController
+    requires_plugin PLUGIN_NAME
+
+    RATE_LIMIT_MAX = 30
+    RATE_LIMIT_SECONDS = 60
+    CACHE_TTL = 5.minutes
+
+    before_action :ensure_enabled
+    before_action :find_topic
+    before_action :enforce_rate_limit
+
+    def show
+      report_type = params[:report_type].to_s
+
+      if !Hledger::ReportBuilder.supported?(report_type)
+        return render_json_error(I18n.t("hledger.errors.unsupported_report"), status: 422)
+      end
+
+      begin_date = parse_date(params[:begin])
+      end_date = parse_date(params[:end])
+
+      if begin_date == :invalid || end_date == :invalid
+        return render_json_error(I18n.t("hledger.errors.invalid_date"), status: 422)
+      end
+
+      first_post = @topic.first_post
+      cache_key = cache_key_for(first_post, report_type, begin_date, end_date)
+
+      if (cached = Discourse.cache.read(cache_key))
+        return render(json: cached)
+      end
+
+      Hledger::BuildReport.call(
+        params: {
+          raw: first_post&.raw,
+          report_type: report_type,
+          begin_date: begin_date,
+          end_date: end_date,
+        },
+        runner: Hledger::Runner.new,
+      ) do
+        on_success do |report:|
+          Discourse.cache.write(cache_key, report, expires_in: CACHE_TTL)
+          render json: report
+        end
+        on_failed_step(:extract_journal) { |step| render_journal_error(step.error) }
+        on_failed_contract do |contract|
+          render_json_error(contract.errors.full_messages, status: 422)
+        end
+        on_exceptions(Hledger::UnavailableError) do
+          render_json_error(I18n.t("hledger.errors.unavailable"), status: 503)
+        end
+        on_exceptions(Hledger::Error) do
+          render_json_error(I18n.t("hledger.errors.execution"), status: 422)
+        end
+        on_failure { render_json_error(I18n.t("hledger.errors.generic"), status: 422) }
+      end
+    end
+
+    private
+
+    def ensure_enabled
+      raise Discourse::NotFound if !SiteSetting.hledger_enabled
+    end
+
+    def find_topic
+      @topic = Topic.find_by(id: params[:topic_id])
+      raise Discourse::NotFound if @topic.blank?
+      raise Discourse::NotFound if !guardian.can_see?(@topic)
+    end
+
+    def enforce_rate_limit
+      RateLimiter.new(
+        current_user,
+        "hledger-reports-#{request.remote_ip}",
+        RATE_LIMIT_MAX,
+        RATE_LIMIT_SECONDS,
+      ).performed!
+    end
+
+    def parse_date(value)
+      return nil if value.blank?
+
+      Date.iso8601(value.to_s)
+    rescue Date::Error
+      :invalid
+    end
+
+    def cache_key_for(first_post, report_type, begin_date, end_date)
+      [
+        "hledger",
+        @topic.id,
+        first_post&.version,
+        report_type,
+        begin_date,
+        end_date,
+        SiteSetting.hledger_path,
+      ].join(":")
+    end
+
+    def render_journal_error(error)
+      key = "hledger.errors.journal.#{error}"
+      key = "hledger.errors.journal.invalid" if !I18n.exists?(key)
+
+      render_json_error(I18n.t(key), status: error == :none ? 404 : 422)
+    end
+  end
+end
diff --git a/app/services/hledger/build_report.rb b/app/services/hledger/build_report.rb
new file mode 100644
index 0000000..a391786
--- /dev/null
+++ b/app/services/hledger/build_report.rb
@@ -0,0 +1,42 @@
+# frozen_string_literal: true
+
+module Hledger
+  class BuildReport
+    include Service::Base
+
+    params do
+      attribute :raw, :string
+      attribute :report_type, :string
+      attribute :begin_date
+      attribute :end_date
+
+      validates :report_type,
+                presence: true,
+                inclusion: {
+                  in: Hledger::ReportBuilder::REPORT_TYPES,
+                }
+    end
+
+    step :extract_journal
+
+    try { step :build }
+
+    private
+
+    def extract_journal(params:)
+      result = Hledger::Journal.extract(params.raw)
+      fail!(result.error) unless result.ok?
+      context[:journal_source] = result.source
+    end
+
+    def build(params:, journal_source:, runner:)
+      builder = Hledger::ReportBuilder.new(runner:)
+      context[:report] = builder.build(
+        params.report_type,
+        journal: journal_source,
+        begin_date: params.begin_date,
+        end_date: params.end_date,
+      )
+    end
+  end
+end
diff --git a/assets/javascripts/discourse-markdown/hledger.js b/assets/javascripts/discourse-markdown/hledger.js
new file mode 100644
index 0000000..48d8abe
--- /dev/null
+++ b/assets/javascripts/discourse-markdown/hledger.js
@@ -0,0 +1,62 @@
+export function setup(helper) {
+  if (!helper.markdownIt) {
+    return;
+  }
+
+  helper.allowList(["div.hledger-dashboard"]);
+
+  helper.registerOptions((opts, siteSettings) => {
+    opts.features.hledger = siteSettings.hledger_enabled;
+  });
+
+  helper.registerPlugin((md) => {
+    if (!md.options.discourse.features.hledger) {
+      return;
+    }
+
+    md.block.ruler.before(
+      "fence",
+      "hledger_dashboard",
+      (state, startLine, endLine, silent) => {
+        const start = state.bMarks[startLine] + state.tShift[startLine];
+        const max = state.eMarks[startLine];
+        const opening = state.src.slice(start, max);
+
+        if (!/^\s*`{3,}hledger\s*$/.test(opening)) {
+          return false;
+        }
+
+        let closingLine = startLine + 1;
+        let closed = false;
+
+        for (; closingLine < endLine; closingLine++) {
+          const pos = state.bMarks[closingLine] + state.tShift[closingLine];
+          const lineMax = state.eMarks[closingLine];
+          if (/^\s*`{3,}\s*$/.test(state.src.slice(pos, lineMax))) {
+            closed = true;
+            break;
+          }
+        }
+
+        if (!closed) {
+          return false;
+        }
+
+        if (silent) {
+          return true;
+        }
+
+        const token = state.push("hledger_dashboard", "div", 0);
+        token.block = true;
+        token.map = [startLine, closingLine + 1];
+        state.line = closingLine + 1;
+
+        return true;
+      },
+      { alt: ["paragraph", "reference", "blockquote", "list"] }
+    );
+
+    md.renderer.rules.hledger_dashboard = () =>
+      `<div class="hledger-dashboard"></div>\n`;
+  });
+}
diff --git a/assets/javascripts/discourse/api-initializers/hledger.js b/assets/javascripts/discourse/api-initializers/hledger.js
new file mode 100644
index 0000000..bfb5655
--- /dev/null
+++ b/assets/javascripts/discourse/api-initializers/hledger.js
@@ -0,0 +1,23 @@
+import { apiInitializer } from "discourse/lib/api";
+import HledgerDashboard from "../components/hledger-dashboard";
+
+export default apiInitializer((api) => {
+  api.decorateCookedElement(
+    (element, helper) => {
+      const node = element.querySelector(".hledger-dashboard");
+
+      if (!node || !helper) {
+        return;
+      }
+
+      const post = helper.getModel();
+
+      if (!post || post.post_number !== 1) {
+        return;
+      }
+
+      helper.renderGlimmer(node, HledgerDashboard, { post });
+    },
+    { onlyStream: true, id: "hledger" }
+  );
+});
diff --git a/assets/javascripts/discourse/components/hledger-dashboard.gjs b/assets/javascripts/discourse/components/hledger-dashboard.gjs
new file mode 100644
index 0000000..619b505
--- /dev/null
+++ b/assets/javascripts/discourse/components/hledger-dashboard.gjs
@@ -0,0 +1,247 @@
+import Component from "@glimmer/component";
+import { tracked } from "@glimmer/tracking";
+import { fn } from "@ember/helper";
+import { action } from "@ember/object";
+import { ajax } from "discourse/lib/ajax";
+import { eq } from "discourse/truth-helpers";
+import DButton from "discourse/ui-kit/d-button";
+import DConditionalLoadingSpinner from "discourse/ui-kit/d-conditional-loading-spinner";
+import DDatePicker from "discourse/ui-kit/d-date-picker";
+import { i18n } from "discourse-i18n";
+
+const REPORT_IDS = ["accounts", "balance_sheet", "income_statement", "equity"];
+
+export default class HledgerDashboard extends Component {
+  @tracked selectedReport = "accounts";
+  @tracked report = null;
+  @tracked loading = false;
+  @tracked error = null;
+  @tracked beginDate = null;
+  @tracked endDate = null;
+
+  constructor() {
+    super(...arguments);
+    this.loadReport();
+  }
+
+  get reports() {
+    return REPORT_IDS.map((id) => ({
+      id,
+      label: i18n(`hledger.reports.${id}`),
+      icon: {
+        accounts: "list",
+        balance_sheet: "scale-balanced",
+        income_statement: "chart-line",
+        equity: "users",
+      }[id],
+    }));
+  }
+
+  get topicId() {
+    return this.args.data?.post?.topic_id;
+  }
+
+  get isEquity() {
+    return this.selectedReport === "equity";
+  }
+
+  get labels() {
+    return {
+      total: i18n("hledger.total"),
+      net: i18n("hledger.net"),
+      holder: i18n("hledger.equity.holder"),
+      amount: i18n("hledger.equity.amount"),
+      share: i18n("hledger.equity.share"),
+      note: i18n("hledger.equity.note"),
+      beginDate: i18n("hledger.filters.begin"),
+      endDate: i18n("hledger.filters.end"),
+    };
+  }
+
+  @action
+  select(reportId) {
+    if (this.selectedReport === reportId) {
+      return;
+    }
+
+    this.selectedReport = reportId;
+    this.loadReport();
+  }
+
+  @action
+  setBeginDate(value) {
+    this.beginDate = value;
+    this.loadReport();
+  }
+
+  @action
+  setEndDate(value) {
+    this.endDate = value;
+    this.loadReport();
+  }
+
+  @action
+  async loadReport() {
+    const topicId = this.topicId;
+
+    if (!topicId) {
+      return;
+    }
+
+    this.loading = true;
+    this.error = null;
+
+    const data = {};
+    if (this.beginDate) {
+      data.begin = this.beginDate;
+    }
+    if (this.endDate) {
+      data.end = this.endDate;
+    }
+
+    try {
+      this.report = await ajax(
+        `/hledger/topics/${topicId}/reports/${this.selectedReport}`,
+        { data }
+      );
+    } catch (e) {
+      this.report = null;
+      this.error =
+        e?.jqXHR?.responseJSON?.errors?.[0] || i18n("hledger.errors.generic");
+    } finally {
+      this.loading = false;
+    }
+  }
+
+  amountText(amounts) {
+    return (amounts || []).map((amount) => amount.display).join(", ");
+  }
+
+  depthClass(depth) {
+    return `hledger-dashboard__account--depth-${Math.min(depth || 0, 5)}`;
+  }
+
+  <template>
+    <div class="hledger-dashboard__inner">
+      <div class="hledger-dashboard__toolbar">
+        {{#each this.reports as |report|}}
+          <DButton
+            class={{if (eq this.selectedReport report.id) "is-active"}}
+            @label={{report.label}}
+            @icon={{report.icon}}
+            @action={{fn this.select report.id}}
+            @disabled={{this.loading}}
+          />
+        {{/each}}
+      </div>
+
+      <div class="hledger-dashboard__filters">
+        <DDatePicker
+          @value={{this.beginDate}}
+          @onSelect={{this.setBeginDate}}
+          @placeholder={{this.labels.beginDate}}
+        />
+        <DDatePicker
+          @value={{this.endDate}}
+          @onSelect={{this.setEndDate}}
+          @placeholder={{this.labels.endDate}}
+        />
+      </div>
+
+      <DConditionalLoadingSpinner @condition={{this.loading}}>
+        {{#if this.error}}
+          <div
+            class="hledger-dashboard__error alert alert-error"
+          >{{this.error}}</div>
+        {{else if this.report}}
+          {{#if this.isEquity}}
+            {{#each this.report.groups as |group|}}
+              <div class="hledger-dashboard__section">
+                <h3
+                  class="hledger-dashboard__section-title"
+                >{{group.commodity}}</h3>
+                <table class="hledger-dashboard__table">
+                  <thead>
+                    <tr>
+                      <th>{{this.labels.holder}}</th>
+                      <th
+                        class="hledger-dashboard__amount"
+                      >{{this.labels.amount}}</th>
+                      <th
+                        class="hledger-dashboard__amount"
+                      >{{this.labels.share}}</th>
+                    </tr>
+                  </thead>
+                  <tbody>
+                    {{#each group.holders as |holder|}}
+                      <tr>
+                        <td>{{holder.holder}}</td>
+                        <td
+                          class="hledger-dashboard__amount"
+                        >{{holder.amount.display}}</td>
+                        <td
+                          class="hledger-dashboard__amount"
+                        >{{holder.percentage}}%</td>
+                      </tr>
+                    {{/each}}
+                    <tr class="hledger-dashboard__total">
+                      <td>{{this.labels.total}}</td>
+                      <td
+                        class="hledger-dashboard__amount"
+                      >{{group.total.display}}</td>
+                      <td></td>
+                    </tr>
+                  </tbody>
+                </table>
+              </div>
+            {{/each}}
+            <p class="hledger-dashboard__note">{{this.labels.note}}</p>
+          {{else}}
+            {{#each this.report.sections as |section|}}
+              <div class="hledger-dashboard__section">
+                {{#if section.title}}
+                  <h3
+                    class="hledger-dashboard__section-title"
+                  >{{section.title}}</h3>
+                {{/if}}
+                <table class="hledger-dashboard__table">
+                  <tbody>
+                    {{#each section.rows as |row|}}
+                      <tr>
+                        <td
+                          class="hledger-dashboard__account
+                            {{this.depthClass row.depth}}"
+                        >
+                          {{row.account}}
+                        </td>
+                        <td class="hledger-dashboard__amount">{{this.amountText
+                            row.amounts
+                          }}</td>
+                      </tr>
+                    {{/each}}
+                    {{#if section.total}}
+                      <tr class="hledger-dashboard__total">
+                        <td>{{this.labels.total}}</td>
+                        <td class="hledger-dashboard__amount">{{this.amountText
+                            section.total
+                          }}</td>
+                      </tr>
+                    {{/if}}
+                  </tbody>
+                </table>
+              </div>
+            {{/each}}
+            {{#if this.report.net}}
+              <div class="hledger-dashboard__net">
+                <span>{{this.labels.net}}</span>
+                <span class="hledger-dashboard__amount">{{this.amountText
+                    this.report.net
+                  }}</span>
+              </div>
+            {{/if}}
+          {{/if}}
+        {{/if}}
+      </DConditionalLoadingSpinner>
+    </div>
+  </template>
+}
diff --git a/assets/stylesheets/hledger.scss b/assets/stylesheets/hledger.scss
new file mode 100644
index 0000000..782dda0
--- /dev/null
+++ b/assets/stylesheets/hledger.scss
@@ -0,0 +1,106 @@
+.hledger-dashboard {
+  margin: 1em 0;
+
+  &__inner {
+    padding: 0.75em 1em;
+    border: 1px solid var(--primary-low);
+    border-radius: var(--d-border-radius);
+    background: var(--primary-very-low);
+  }
+
+  &__toolbar {
+    display: flex;
+    flex-wrap: wrap;
+    gap: 0.5em;
+    margin-bottom: 0.5em;
+
+    .btn.is-active {
+      color: var(--secondary);
+      background: var(--tertiary);
+    }
+  }
+
+  &__filters {
+    display: flex;
+    flex-wrap: wrap;
+    gap: 0.5em;
+    margin-bottom: 0.75em;
+  }
+
+  &__section + &__section {
+    margin-top: 1em;
+  }
+
+  &__section-title {
+    margin: 0 0 0.25em;
+    font-size: var(--font-down-1);
+    color: var(--primary-medium);
+  }
+
+  &__table {
+    width: 100%;
+    border-collapse: collapse;
+    font-size: var(--font-down-1);
+
+    th,
+    td {
+      padding: 0.25em 0.5em;
+      text-align: start;
+      border-bottom: 1px solid var(--primary-low);
+    }
+  }
+
+  &__amount {
+    text-align: end;
+    white-space: nowrap;
+    font-variant-numeric: tabular-nums;
+  }
+
+  &__account {
+    padding-inline-start: 0.5em;
+
+    &--depth-1 {
+      padding-inline-start: 1.5em;
+    }
+
+    &--depth-2 {
+      padding-inline-start: 2.5em;
+    }
+
+    &--depth-3 {
+      padding-inline-start: 3.5em;
+    }
+
+    &--depth-4 {
+      padding-inline-start: 4.5em;
+    }
+
+    &--depth-5 {
+      padding-inline-start: 5.5em;
+    }
+  }
+
+  &__total {
+    font-weight: bold;
+  }
+
+  &__net {
+    display: flex;
+    justify-content: space-between;
+    gap: 1em;
+    margin-top: 0.75em;
+    padding-top: 0.5em;
+    border-top: 2px solid var(--primary-low-mid);
+    font-weight: bold;
+  }
+
+  &__note {
+    margin: 0.75em 0 0;
+    font-size: var(--font-down-2);
+    color: var(--primary-medium);
+  }
+
+  &__error {
+    margin: 0;
+  }
+}
diff --git a/bin/setup-dev b/bin/setup-dev
new file mode 100755
index 0000000..deb0f96
--- /dev/null
+++ b/bin/setup-dev
@@ -0,0 +1,22 @@
+#!/usr/bin/env bash
+# Install the system dependencies needed to develop and test the hledger plugin.
+#
+# Run inside the dev container as root, for example:
+#   docker exec -u root discourse_dev bash /src/plugins/hledger/bin/setup-dev
+set -euo pipefail
+
+if [ "$(id -u)" -ne 0 ]; then
+  echo "Run as root inside the dev container, eg: docker exec -u root discourse_dev bash /src/plugins/hledger/bin/setup-dev" >&2
+  exit 1
+fi
+
+apt-get update
+DEBIAN_FRONTEND=noninteractive apt-get install -y hledger chromium chromium-driver chromium-sandbox
+
+# System specs use Playwright, which needs its own Chromium build for the
+# discourse user.
+runuser -u discourse -- bash -lc "cd /src && pnpm playwright-install"
+
+echo "Installed:"
+hledger --version | head -1
+chromium --version
diff --git a/config/locales/client.en.yml b/config/locales/client.en.yml
index b70743a..50135b9 100644
--- a/config/locales/client.en.yml
+++ b/config/locales/client.en.yml
@@ -6,4 +6,20 @@ en:
           hledger: "Hledger"
   js:
     hledger:
-      placeholder: placeholder
+      reports:
+        accounts: "Accounts"
+        balance_sheet: "Balance sheet"
+        income_statement: "Income statement"
+        equity: "Equity"
+      total: "Total"
+      net: "Net"
+      filters:
+        begin: "From"
+        end: "To"
+      equity:
+        holder: "Holder"
+        amount: "Amount"
+        share: "Share"
+        note: "Contributed-capital distribution, not legal ownership."
+      errors:
+        generic: "Could not load the report."
diff --git a/config/locales/server.en.yml b/config/locales/server.en.yml
index 63f1c3e..6332948 100644
--- a/config/locales/server.en.yml
+++ b/config/locales/server.en.yml
@@ -1 +1,22 @@
 en:
+  site_settings:
+    hledger_enabled: "Enable the hledger plugin"
+    hledger_path: "Path to the hledger executable"
+    hledger_max_journal_bytes: "Maximum size of an hledger journal in bytes"
+    hledger_timeout_seconds: "Maximum number of seconds an hledger command may run"
+    hledger_max_output_bytes: "Maximum number of bytes captured from hledger output"
+  hledger:
+    errors:
+      unsupported_report: "Unsupported report type."
+      invalid_date: "Invalid date; expected YYYY-MM-DD."
+      unavailable: "hledger is not available on this server."
+      execution: "hledger could not generate the report."
+      generic: "The report could not be generated."
+      journal:
+        none: "No hledger journal was found in this topic."
+        ambiguous: "This topic contains more than one hledger journal."
+        too_large: "The hledger journal is too large."
+        too_many_lines: "The hledger journal has too many lines."
+        include_not_allowed: "The hledger journal uses an unsupported include directive."
+        invalid_encoding: "The hledger journal is not valid UTF-8."
+        invalid: "The hledger journal is invalid."
diff --git a/config/routes.rb b/config/routes.rb
index 5209339..f22142f 100644
--- a/config/routes.rb
+++ b/config/routes.rb
@@ -1,8 +1,5 @@
 # frozen_string_literal: true
 
-Hledger::Engine.routes.draw do
-  get "/examples" => "examples#index"
-  # define routes here
-end
+Hledger::Engine.routes.draw { get "/topics/:topic_id/reports/:report_type" => "reports#show" }
 
 Discourse::Application.routes.draw { mount ::Hledger::Engine, at: "hledger" }
diff --git a/config/settings.yml b/config/settings.yml
index 7e7d9dc..6d51543 100644
--- a/config/settings.yml
+++ b/config/settings.yml
@@ -2,3 +2,11 @@ hledger:
   hledger_enabled:
     default: false
     client: true
+  hledger_path:
+    default: hledger
+  hledger_max_journal_bytes:
+    default: 262144
+  hledger_timeout_seconds:
+    default: 10
+  hledger_max_output_bytes:
+    default: 1048576
diff --git a/lib/hledger/equity.rb b/lib/hledger/equity.rb
new file mode 100644
index 0000000..2c8e640
--- /dev/null
+++ b/lib/hledger/equity.rb
@@ -0,0 +1,68 @@
+# frozen_string_literal: true
+
+require "bigdecimal"
+
+module Hledger
+  module Equity
+    module_function
+
+    # rows: array of [account_name, amounts] where amounts are normalized hashes
+    # with "commodity" and "quantity". Returns groups per commodity.
+    def distribute(rows)
+      buckets = Hash.new { |h, k| h[k] = Hash.new { |hh, hk| hh[hk] = BigDecimal(0) } }
+
+      rows.each do |account, amounts|
+        holder = holder_name(account)
+        next if holder.blank?
+
+        Array(amounts).each do |amount|
+          next if amount.blank?
+
+          commodity = amount["commodity"].to_s
+          buckets[commodity][holder] += BigDecimal(amount["quantity"]).abs
+        end
+      end
+
+      buckets
+        .map do |commodity, holders|
+          total = holders.values.reduce(BigDecimal(0), :+)
+          {
+            "commodity" => commodity,
+            "total" => amount_hash(commodity, total),
+            "holders" =>
+              holders
+                .map do |holder, quantity|
+                  {
+                    "holder" => holder,
+                    "amount" => amount_hash(commodity, quantity),
+                    "percentage" => percentage(quantity, total),
+                  }
+                end
+                .sort_by { |holder| -BigDecimal(holder["amount"]["quantity"]) },
+          }
+        end
+        .sort_by { |group| group["commodity"] }
+    end
+
+    def holder_name(account)
+      parts = account.to_s.split(":")
+      return nil unless parts.first == "equity"
+
+      parts[1]
+    end
+
+    def percentage(quantity, total)
+      return "0.00" if total.zero?
+
+      format("%.2f", (quantity / total) * 100)
+    end
+
+    def amount_hash(commodity, quantity)
+      {
+        "commodity" => commodity,
+        "quantity" => quantity.to_s("F"),
+        "display" => [quantity.to_s("F"), commodity].reject(&:blank?).join(" "),
+      }
+    end
+  end
+end
diff --git a/lib/hledger/error.rb b/lib/hledger/error.rb
new file mode 100644
index 0000000..8a9075e
--- /dev/null
+++ b/lib/hledger/error.rb
@@ -0,0 +1,6 @@
+# frozen_string_literal: true
+
+module Hledger
+  class Error < StandardError
+  end
+end
diff --git a/lib/hledger/execution_error.rb b/lib/hledger/execution_error.rb
new file mode 100644
index 0000000..73ca541
--- /dev/null
+++ b/lib/hledger/execution_error.rb
@@ -0,0 +1,6 @@
+# frozen_string_literal: true
+
+module Hledger
+  class ExecutionError < Error
+  end
+end
diff --git a/lib/hledger/journal.rb b/lib/hledger/journal.rb
new file mode 100644
index 0000000..1d154bc
--- /dev/null
+++ b/lib/hledger/journal.rb
@@ -0,0 +1,54 @@
+# frozen_string_literal: true
+
+module Hledger
+  # Extracts the single fenced `hledger` journal from a post's raw markdown and
+  # rejects input that could make hledger read files or resources we do not
+  # control.
+  class Journal
+    FENCE = /^[ \t]*`{3,}hledger[ \t]*\r?\n(?<source>.*?)^[ \t]*`{3,}[ \t]*$/m
+    INCLUDE = /^[ \t]*!?include\b/i
+    MAX_LINES = 5_000
+
+    Result =
+      Struct.new(:source, :error, keyword_init: true) do
+        def ok?
+          error.nil?
+        end
+
+        def none?
+          error == :none
+        end
+      end
+
+    def self.extract(raw)
+      new(raw).extract
+    end
+
+    def initialize(raw)
+      @raw = raw.to_s
+    end
+
+    def extract
+      matches = @raw.scan(FENCE).flatten
+      return Result.new(source: nil, error: :none) if matches.empty?
+      return Result.new(source: nil, error: :ambiguous) if matches.length > 1
+
+      source = matches.first
+      validation_error = validate(source)
+      return Result.new(source: nil, error: validation_error) if validation_error
+
+      Result.new(source: source, error: nil)
+    end
+
+    private
+
+    def validate(source)
+      return :too_large if source.bytesize > SiteSetting.hledger_max_journal_bytes
+      return :too_many_lines if source.lines.size > MAX_LINES
+      return :invalid_encoding unless source.valid_encoding?
+      return :include_not_allowed if source.match?(INCLUDE)
+
+      nil
+    end
+  end
+end
diff --git a/lib/hledger/parse_error.rb b/lib/hledger/parse_error.rb
new file mode 100644
index 0000000..4839047
--- /dev/null
+++ b/lib/hledger/parse_error.rb
@@ -0,0 +1,6 @@
+# frozen_string_literal: true
+
+module Hledger
+  class ParseError < Error
+  end
+end
diff --git a/lib/hledger/report_builder.rb b/lib/hledger/report_builder.rb
new file mode 100644
index 0000000..7e93a9b
--- /dev/null
+++ b/lib/hledger/report_builder.rb
@@ -0,0 +1,255 @@
+# frozen_string_literal: true
+
+require "bigdecimal"
+require "csv"
+require "json"
+
+module Hledger
+  # Runs an hledger report and normalizes its output into the JSON shape the
+  # client renders.
+  class ReportBuilder
+    REPORT_TYPES = %w[accounts balance_sheet income_statement equity].freeze
+    COMPOUND_COMMANDS = { "balance_sheet" => "bs", "income_statement" => "is" }.freeze
+
+    def self.supported?(type)
+      REPORT_TYPES.include?(type.to_s)
+    end
+
+    def initialize(runner: Runner.new)
+      @runner = runner
+    end
+
+    def build(report_type, journal:, begin_date: nil, end_date: nil)
+      raise UnavailableError if @runner.version.blank?
+
+      case report_type.to_s
+      when "accounts"
+        build_accounts(journal, begin_date, end_date)
+      when "balance_sheet", "income_statement"
+        build_compound(report_type.to_s, journal, begin_date, end_date)
+      when "equity"
+        build_equity(journal, begin_date, end_date)
+      else
+        raise Error, "unsupported report type: #{report_type}"
+      end
+    end
+
+    private
+
+    def build_accounts(journal, begin_date, end_date)
+      result = run(["bal", "-O", "json", *balance_flags(begin_date, end_date)], journal)
+      rows, total = parse_json(result.stdout)
+
+      sections = [
+        {
+          "title" => nil,
+          "rows" => Array(rows).map { |row| account_row(row) },
+          "total" => amounts(Array(total)),
+        },
+      ]
+
+      envelope("accounts", begin_date, end_date, "sections" => sections, "net" => nil)
+    end
+
+    def build_compound(report_type, journal, begin_date, end_date)
+      flags =
+        (
+          if report_type == "balance_sheet"
+            balance_flags(begin_date, end_date)
+          else
+            period_flags(begin_date, end_date)
+          end
+        )
+      result = run([COMPOUND_COMMANDS.fetch(report_type), "-O", "csv", *flags], journal)
+      sections, net = parse_compound_csv(result.stdout)
+
+      envelope(report_type, begin_date, end_date, "sections" => sections, "net" => net)
+    end
+
+    def build_equity(journal, begin_date, end_date)
+      result = run(["bal", "-O", "json", *balance_flags(begin_date, end_date), "^equity:"], journal)
+      rows, = parse_json(result.stdout)
+      holdings = Array(rows).map { |row| [row[1].to_s, amounts(Array(row[3]))] }
+
+      envelope("equity", begin_date, end_date, "groups" => Equity.distribute(holdings))
+    end
+
+    def envelope(report_type, begin_date, end_date, **extra)
+      {
+        "report_type" => report_type,
+        "period" => {
+          "begin" => begin_date&.iso8601,
+          "end" => end_date&.iso8601,
+        },
+        "meta" => {
+          "hledger_version" => @runner.version,
+        },
+      }.merge(extra)
+    end
+
+    def run(argv, journal)
+      result = @runner.execute([*base_flags, *argv], stdin_data: journal)
+      raise ExecutionError, result.stderr if result.timed_out
+      raise ExecutionError, result.stderr unless result.success?
+
+      result
+    end
+
+    def base_flags
+      flags = ["-f-"]
+      flags << "-n" if no_conf_supported?
+      flags
+    end
+
+    def no_conf_supported?
+      Gem::Version.new(@runner.version) >= Gem::Version.new("1.40")
+    rescue ArgumentError
+      false
+    end
+
+    def parse_json(text)
+      JSON.parse(text)
+    rescue JSON::ParserError => e
+      raise ParseError, e.message
+    end
+
+    def account_row(row)
+      display, full, _depth, row_amounts = row
+      account = (full || display).to_s
+
+      {
+        "account" => account,
+        "depth" => depth_of(account),
+        "amounts" => amounts(Array(row_amounts)),
+      }
+    end
+
+    def parse_compound_csv(text)
+      rows = CSV.parse(text)
+      sections = []
+      current = nil
+      net = nil
+
+      rows.each_with_index do |row, index|
+        next if index < 2
+
+        label = row[0].to_s
+        raw_amount = row[1].to_s
+        next if label.blank?
+
+        case label
+        when "Total:"
+          current["total"] = [parse_amount_string(raw_amount)] if current
+        when "Net:"
+          net = [parse_amount_string(raw_amount)]
+        else
+          if raw_amount.blank?
+            current = { "title" => label, "rows" => [], "total" => nil }
+            sections << current
+          elsif current
+            current["rows"] << {
+              "account" => label,
+              "depth" => depth_of(label),
+              "amounts" => [parse_amount_string(raw_amount)],
+            }
+          end
+        end
+      end
+
+      [sections, net]
+    end
+
+    def amounts(list)
+      Array(list).map { |amount| amount_to_h(amount) }
+    end
+
+    def amount_to_h(amount)
+      quantity = quantity_of(amount["aquantity"])
+      style = amount["astyle"] || {}
+      commodity = amount["acommodity"].to_s
+
+      {
+        "commodity" => commodity,
+        "quantity" => quantity.to_s("F"),
+        "display" => display_amount(quantity, commodity, style),
+        "side" => style["ascommodityside"] || "R",
+        "spaced" => style["ascommodityspaced"] ? true : false,
+        "precision" => style["asprecision"],
+      }
+    end
+
+    def parse_amount_string(raw)
+      text = raw.to_s.strip
+      return nil if text.empty?
+
+      if (match = text.match(/\A(-?\d+(?:[.,]\d+)?)\s*(.*)\z/))
+        number = match[1]
+        commodity = match[2].strip
+        side = "R"
+      elsif (match = text.match(/\A(.*?)\s*(-?\d+(?:[.,]\d+)?)\z/))
+        commodity = match[1].strip
+        number = match[2]
+        side = "L"
+      else
+        return nil
+      end
+
+      quantity = BigDecimal(number.tr(",", "."))
+
+      {
+        "commodity" => commodity,
+        "quantity" => quantity.to_s("F"),
+        "display" => text,
+        "side" => side,
+        "spaced" => commodity.present? && text.include?(" "),
+        "precision" => number.match?(/[.,]/) ? number.split(/[.,]/).last.length : 0,
+      }
+    end
+
+    def quantity_of(aquantity)
+      return BigDecimal(0) if aquantity.blank?
+
+      mantissa = aquantity["decimalMantissa"].to_i
+      places = aquantity["decimalPlaces"].to_i
+      BigDecimal(mantissa) / (10**places)
+    end
+
+    def display_amount(quantity, commodity, style)
+      precision = style["asprecision"]
+      if precision.nil?
+        rendered = quantity.to_s("F")
+        precision = rendered.include?(".") ? rendered.split(".").last.length : 0
+      end
+      mark = style["asdecimalmark"].presence || "."
+
+      number = format("%.#{precision}f", quantity)
+      number = number.tr(".", mark) if mark != "."
+
+      return number if commodity.blank?
+
+      spaced = style["ascommodityspaced"] ? " " : ""
+      if style["ascommodityside"] == "L"
+        "#{commodity}#{spaced}#{number}"
+      else
+        "#{number}#{spaced}#{commodity}"
+      end
+    end
+
+    def depth_of(account)
+      account.to_s.count(":")
+    end
+
+    def balance_flags(begin_date, end_date)
+      flags = []
+      flags += ["-e", (end_date + 1).iso8601] if end_date
+      flags
+    end
+
+    def period_flags(begin_date, end_date)
+      flags = []
+      flags += ["-b", begin_date.iso8601] if begin_date
+      flags += ["-e", (end_date + 1).iso8601] if end_date
+      flags
+    end
+  end
+end
diff --git a/lib/hledger/runner.rb b/lib/hledger/runner.rb
new file mode 100644
index 0000000..2f8be52
--- /dev/null
+++ b/lib/hledger/runner.rb
@@ -0,0 +1,163 @@
+# frozen_string_literal: true
+
+require "open3"
+require "tmpdir"
+require "fileutils"
+
+module Hledger
+  # Runs the hledger binary in a locked-down child process: scrubbed
+  # environment, private working directory, process group, CPU/file limits and
+  # a hard wall-clock timeout.
+  class Runner
+    Result =
+      Struct.new(:success, :stdout, :stderr, :exit_status, :timed_out, keyword_init: true) do
+        def success?
+          success
+        end
+      end
+
+    READ_CHUNK = 16_384
+
+    def initialize(path: nil, timeout: nil, max_output: nil)
+      @path = (path || SiteSetting.hledger_path).to_s
+      @timeout = (timeout || SiteSetting.hledger_timeout_seconds).to_i
+      @max_output = (max_output || SiteSetting.hledger_max_output_bytes).to_i
+    end
+
+    def available?
+      version.present?
+    end
+
+    def version
+      return @version if defined?(@version)
+
+      @version = detect_version
+    end
+
+    def execute(argv, stdin_data: nil)
+      binary = resolve_binary
+      return failure_result if binary.nil?
+
+      run(binary, argv, stdin_data)
+    end
+
+    private
+
+    def run(binary, argv, stdin_data)
+      tmpdir = Dir.mktmpdir("hledger-")
+      env = {
+        "PATH" => ENV["PATH"].to_s,
+        "HOME" => tmpdir,
+        "TMPDIR" => tmpdir,
+        "XDG_CACHE_HOME" => tmpdir,
+        "XDG_CONFIG_HOME" => tmpdir,
+        "NO_COLOR" => "1",
+        "LANG" => "C.UTF-8",
+        "LC_ALL" => "C.UTF-8",
+      }
+      spawn_opts = {
+        pgroup: true,
+        unsetenv_others: true,
+        chdir: tmpdir,
+        rlimit_cpu: @timeout + 5,
+        rlimit_nofile: 64,
+      }
+
+      status = nil
+      timed_out = false
+      stdout = +""
+      stderr = +""
+
+      Open3.popen3(env, binary, *argv, **spawn_opts) do |stdin, out, err, wait_thr|
+        writer = Thread.new { write_stdin(stdin, stdin_data) }
+        out_reader = Thread.new { read_capped(out) }
+        err_reader = Thread.new { read_capped(err) }
+
+        if wait_thr.join(@timeout)
+          status = wait_thr.value
+        else
+          timed_out = true
+          kill_group(wait_thr.pid)
+          wait_thr.join(2)
+        end
+
+        writer.join(1)
+        stdout = out_reader.value
+        stderr = err_reader.value
+      end
+
+      Result.new(
+        success: status&.success? && !timed_out,
+        stdout: stdout,
+        stderr: stderr,
+        exit_status: status&.exitstatus,
+        timed_out: timed_out,
+      )
+    rescue SystemCallError
+      failure_result
+    ensure
+      FileUtils.remove_entry(tmpdir) if tmpdir && Dir.exist?(tmpdir)
+    end
+
+    def write_stdin(stdin, data)
+      stdin.write(data) if data
+      stdin.close
+    rescue IOError, Errno::EPIPE
+    end
+
+    def read_capped(io)
+      buffer = +""
+      while (chunk = io.read(READ_CHUNK))
+        break if chunk.empty?
+
+        remaining = @max_output - buffer.bytesize
+        buffer << chunk.byteslice(0, remaining) if remaining.positive?
+      end
+      buffer
+    rescue IOError, Errno::EPIPE
+      buffer
+    ensure
+      io.close
+    end
+
+    def kill_group(pid)
+      Process.kill("KILL", -pid)
+    rescue Errno::ESRCH, Errno::EPERM
+    end
+
+    def resolve_binary
+      return @binary if defined?(@binary)
+
+      @binary =
+        if @path.include?(File::SEPARATOR)
+          File.executable?(@path) ? @path : nil
+        else
+          which(@path)
+        end
+    end
+
+    def which(name)
+      return nil if name.blank?
+
+      ENV["PATH"]
+        .to_s
+        .split(File::PATH_SEPARATOR)
+        .each do |dir|
+          candidate = File.join(dir, name)
+          return candidate if File.file?(candidate) && File.executable?(candidate)
+        end
+      nil
+    end
+
+    def detect_version
+      result = execute(["--version"])
+      return nil unless result.success?
+
+      result.stdout[/\d+\.\d+(?:\.\d+)?/]
+    end
+
+    def failure_result
+      Result.new(success: false, stdout: "", stderr: "", exit_status: nil, timed_out: false)
+    end
+  end
+end
diff --git a/lib/hledger/unavailable_error.rb b/lib/hledger/unavailable_error.rb
new file mode 100644
index 0000000..8143e83
--- /dev/null
+++ b/lib/hledger/unavailable_error.rb
@@ -0,0 +1,6 @@
+# frozen_string_literal: true
+
+module Hledger
+  class UnavailableError < Error
+  end
+end
diff --git a/plugin.rb b/plugin.rb
index d5bd998..27bc7c6 100644
--- a/plugin.rb
+++ b/plugin.rb
@@ -1,13 +1,15 @@
 # frozen_string_literal: true
 
 # name: hledger
-# about: TODO
+# about: Render hledger journals in topics
 # meta_topic_id: TODO
 # version: 0.0.1
-# authors: Discourse
+# authors: Râu Cao
 # url: TODO
 # required_version: 2.7.0
 
+register_asset "stylesheets/hledger.scss"
+
 enabled_site_setting :hledger_enabled
 
 module ::Hledger
@@ -15,7 +17,3 @@ module ::Hledger
 end
 
 require_relative "lib/hledger/engine"
-
-after_initialize do
-  # Code which should run after Rails has finished booting
-end
diff --git a/spec/fixtures/accounts.json b/spec/fixtures/accounts.json
new file mode 100644
index 0000000..3839f2e
--- /dev/null
+++ b/spec/fixtures/accounts.json
@@ -0,0 +1,150 @@
+[
+  [
+    [
+      "assets:bank:checking",
+      "assets:bank:checking",
+      0,
+      [
+        {
+          "acommodity": "EUR",
+          "acost": null,
+          "acostbasis": null,
+          "aquantity": {
+            "decimalMantissa": 102950,
+            "decimalPlaces": 2,
+            "floatingPoint": 1029.5
+          },
+          "astyle": {
+            "ascommodityside": "R",
+            "ascommodityspaced": true,
+            "asdecimalmark": ".",
+            "asdigitgroups": null,
+            "asprecision": 2,
+            "asrounding": "HardRounding"
+          }
+        }
+      ]
+    ],
+    [
+      "equity:alice",
+      "equity:alice",
+      0,
+      [
+        {
+          "acommodity": "EUR",
+          "acost": null,
+          "acostbasis": null,
+          "aquantity": {
+            "decimalMantissa": -60000,
+            "decimalPlaces": 2,
+            "floatingPoint": -600
+          },
+          "astyle": {
+            "ascommodityside": "R",
+            "ascommodityspaced": true,
+            "asdecimalmark": ".",
+            "asdigitgroups": null,
+            "asprecision": 2,
+            "asrounding": "HardRounding"
+          }
+        }
+      ]
+    ],
+    [
+      "equity:bob",
+      "equity:bob",
+      0,
+      [
+        {
+          "acommodity": "EUR",
+          "acost": null,
+          "acostbasis": null,
+          "aquantity": {
+            "decimalMantissa": -40000,
+            "decimalPlaces": 2,
+            "floatingPoint": -400
+          },
+          "astyle": {
+            "ascommodityside": "R",
+            "ascommodityspaced": true,
+            "asdecimalmark": ".",
+            "asdigitgroups": null,
+            "asprecision": 2,
+            "asrounding": "HardRounding"
+          }
+        }
+      ]
+    ],
+    [
+      "expenses:hosting:server",
+      "expenses:hosting:server",
+      0,
+      [
+        {
+          "acommodity": "EUR",
+          "acost": null,
+          "acostbasis": null,
+          "aquantity": {
+            "decimalMantissa": 2050,
+            "decimalPlaces": 2,
+            "floatingPoint": 20.5
+          },
+          "astyle": {
+            "ascommodityside": "R",
+            "ascommodityspaced": true,
+            "asdecimalmark": ".",
+            "asdigitgroups": null,
+            "asprecision": 2,
+            "asrounding": "HardRounding"
+          }
+        }
+      ]
+    ],
+    [
+      "revenues:donations",
+      "revenues:donations",
+      0,
+      [
+        {
+          "acommodity": "EUR",
+          "acost": null,
+          "acostbasis": null,
+          "aquantity": {
+            "decimalMantissa": -5000,
+            "decimalPlaces": 2,
+            "floatingPoint": -50
+          },
+          "astyle": {
+            "ascommodityside": "R",
+            "ascommodityspaced": true,
+            "asdecimalmark": ".",
+            "asdigitgroups": null,
+            "asprecision": 2,
+            "asrounding": "HardRounding"
+          }
+        }
+      ]
+    ]
+  ],
+  [
+    {
+      "acommodity": "EUR",
+      "acost": null,
+      "acostbasis": null,
+      "aquantity": {
+        "decimalMantissa": 0,
+        "decimalPlaces": 2,
+        "floatingPoint": 0
+      },
+      "astyle": {
+        "ascommodityside": "R",
+        "ascommodityspaced": true,
+        "asdecimalmark": ".",
+        "asdigitgroups": null,
+        "asprecision": 2,
+        "asrounding": "HardRounding"
+      }
+    }
+  ]
+]
+
diff --git a/spec/fixtures/balance_sheet.csv b/spec/fixtures/balance_sheet.csv
new file mode 100644
index 0000000..5368822
--- /dev/null
+++ b/spec/fixtures/balance_sheet.csv
@@ -0,0 +1,8 @@
+"Balance Sheet 2024-03-15",""
+"Account","2024-03-15"
+"Assets",""
+"assets:bank:checking","1029.50 EUR"
+"Total:","1029.50 EUR"
+"Liabilities",""
+"Total:","0"
+"Net:","1029.50 EUR"
diff --git a/spec/fixtures/equity.json b/spec/fixtures/equity.json
new file mode 100644
index 0000000..26ac8c3
--- /dev/null
+++ b/spec/fixtures/equity.json
@@ -0,0 +1,75 @@
+[
+  [
+    [
+      "equity:alice",
+      "equity:alice",
+      0,
+      [
+        {
+          "acommodity": "EUR",
+          "acost": null,
+          "acostbasis": null,
+          "aquantity": {
+            "decimalMantissa": -60000,
+            "decimalPlaces": 2,
+            "floatingPoint": -600
+          },
+          "astyle": {
+            "ascommodityside": "R",
+            "ascommodityspaced": true,
+            "asdecimalmark": ".",
+            "asdigitgroups": null,
+            "asprecision": 2,
+            "asrounding": "HardRounding"
+          }
+        }
+      ]
+    ],
+    [
+      "equity:bob",
+      "equity:bob",
+      0,
+      [
+        {
+          "acommodity": "EUR",
+          "acost": null,
+          "acostbasis": null,
+          "aquantity": {
+            "decimalMantissa": -40000,
+            "decimalPlaces": 2,
+            "floatingPoint": -400
+          },
+          "astyle": {
+            "ascommodityside": "R",
+            "ascommodityspaced": true,
+            "asdecimalmark": ".",
+            "asdigitgroups": null,
+            "asprecision": 2,
+            "asrounding": "HardRounding"
+          }
+        }
+      ]
+    ]
+  ],
+  [
+    {
+      "acommodity": "EUR",
+      "acost": null,
+      "acostbasis": null,
+      "aquantity": {
+        "decimalMantissa": -100000,
+        "decimalPlaces": 2,
+        "floatingPoint": -1000
+      },
+      "astyle": {
+        "ascommodityside": "R",
+        "ascommodityspaced": true,
+        "asdecimalmark": ".",
+        "asdigitgroups": null,
+        "asprecision": 2,
+        "asrounding": "HardRounding"
+      }
+    }
+  ]
+]
+
diff --git a/spec/fixtures/income_statement.csv b/spec/fixtures/income_statement.csv
new file mode 100644
index 0000000..da1eb2f
--- /dev/null
+++ b/spec/fixtures/income_statement.csv
@@ -0,0 +1,9 @@
+"Income Statement 2024-01-01..2024-03-15",""
+"Account","2024-01-01..2024-03-15"
+"Revenues",""
+"revenues:donations","50.00 EUR"
+"Total:","50.00 EUR"
+"Expenses",""
+"expenses:hosting:server","20.50 EUR"
+"Total:","20.50 EUR"
+"Net:","29.50 EUR"
diff --git a/spec/fixtures/journal.txt b/spec/fixtures/journal.txt
new file mode 100644
index 0000000..f696e04
--- /dev/null
+++ b/spec/fixtures/journal.txt
@@ -0,0 +1,12 @@
+2024-01-01 Opening balances
+    assets:bank:checking       1000.00 EUR
+    equity:alice               -600.00 EUR
+    equity:bob                 -400.00 EUR
+
+2024-02-10 Hosting
+    expenses:hosting:server       20.50 EUR
+    assets:bank:checking         -20.50 EUR
+
+2024-03-15 Donation
+    assets:bank:checking          50.00 EUR
+    revenues:donations           -50.00 EUR
diff --git a/spec/lib/hledger/equity_spec.rb b/spec/lib/hledger/equity_spec.rb
new file mode 100644
index 0000000..605f0b7
--- /dev/null
+++ b/spec/lib/hledger/equity_spec.rb
@@ -0,0 +1,37 @@
+# frozen_string_literal: true
+
+RSpec.describe Hledger::Equity do
+  it "aggregates holders and computes percentages" do
+    rows = [
+      ["equity:alice", [{ "commodity" => "EUR", "quantity" => "-600.0" }]],
+      ["equity:bob", [{ "commodity" => "EUR", "quantity" => "-400.0" }]],
+    ]
+
+    group = described_class.distribute(rows).first
+
+    expect(group["commodity"]).to eq("EUR")
+    expect(group["total"]["quantity"]).to eq("1000.0")
+    expect(group["holders"].map { |h| h["holder"] }).to eq(%w[alice bob])
+    expect(group["holders"].map { |h| h["percentage"] }).to eq(%w[60.00 40.00])
+  end
+
+  it "keeps commodities separate" do
+    rows = [
+      ["equity:alice", [{ "commodity" => "EUR", "quantity" => "100" }]],
+      ["equity:alice", [{ "commodity" => "USD", "quantity" => "50" }]],
+      ["equity:bob", [{ "commodity" => "USD", "quantity" => "50" }]],
+    ]
+
+    groups = described_class.distribute(rows)
+
+    expect(groups.map { |g| g["commodity"] }).to eq(%w[EUR USD])
+    usd = groups.find { |g| g["commodity"] == "USD" }
+    expect(usd["holders"].map { |h| h["percentage"] }).to eq(%w[50.00 50.00])
+  end
+
+  it "ignores accounts outside of equity" do
+    rows = [["assets:bank", [{ "commodity" => "EUR", "quantity" => "100" }]]]
+
+    expect(described_class.distribute(rows)).to eq([])
+  end
+end
diff --git a/spec/lib/hledger/integration_spec.rb b/spec/lib/hledger/integration_spec.rb
new file mode 100644
index 0000000..f566136
--- /dev/null
+++ b/spec/lib/hledger/integration_spec.rb
@@ -0,0 +1,42 @@
+# frozen_string_literal: true
+
+# rubocop:disable RSpec/DescribeClass
+RSpec.describe "Hledger integration" do
+  before { skip "hledger is not installed" if !Hledger::Runner.new.available? }
+
+  let(:journal) { File.read(Rails.root.join("plugins/hledger/spec/fixtures/journal.txt")) }
+  let(:builder) { Hledger::ReportBuilder.new }
+
+  it "builds every supported report" do
+    %w[accounts balance_sheet income_statement equity].each do |type|
+      expect(builder.build(type, journal: journal)["report_type"]).to eq(type)
+    end
+  end
+
+  it "treats the end date as inclusive" do
+    report =
+      builder.build(
+        "income_statement",
+        journal: journal,
+        begin_date: Date.new(2024, 1, 1),
+        end_date: Date.new(2024, 3, 15),
+      )
+
+    expect(report["net"].first["display"]).to eq("29.50 EUR")
+  end
+
+  it "computes the equity distribution" do
+    holders = builder.build("equity", journal: journal)["groups"].first["holders"]
+
+    expect(holders.map { |holder| [holder["holder"], holder["percentage"]] }).to eq(
+      [%w[alice 60.00], %w[bob 40.00]],
+    )
+  end
+
+  it "rejects journals with include directives" do
+    expect(Hledger::Journal.extract("```hledger\ninclude /etc/hostname\n```").error).to eq(
+      :include_not_allowed,
+    )
+  end
+end
+# rubocop:enable RSpec/DescribeClass
diff --git a/spec/lib/hledger/journal_spec.rb b/spec/lib/hledger/journal_spec.rb
new file mode 100644
index 0000000..804ab39
--- /dev/null
+++ b/spec/lib/hledger/journal_spec.rb
@@ -0,0 +1,51 @@
+# frozen_string_literal: true
+
+RSpec.describe Hledger::Journal do
+  def raw_with(journal)
+    "Intro\n\n```hledger\n#{journal}\n```\n\nOutro\n"
+  end
+
+  it "extracts a single fenced journal" do
+    result = described_class.extract(raw_with("2024-01-01 x\n    a  1\n    b  -1"))
+
+    expect(result).to be_ok
+    expect(result.source).to include("2024-01-01 x")
+  end
+
+  it "returns :none when there is no journal" do
+    expect(described_class.extract("just text").error).to eq(:none)
+  end
+
+  it "returns :ambiguous for multiple journals" do
+    raw = <<~RAW
+      ```hledger
+      2024-01-01 x
+          a  1
+          b  -1
+      ```
+      ```hledger
+      2024-01-02 y
+          a  1
+          b  -1
+      ```
+    RAW
+
+    expect(described_class.extract(raw).error).to eq(:ambiguous)
+  end
+
+  it "rejects include directives" do
+    result = described_class.extract(raw_with("include /etc/hostname"))
+
+    expect(result.error).to eq(:include_not_allowed)
+  end
+
+  it "rejects oversized journals" do
+    SiteSetting.hledger_max_journal_bytes = 10
+
+    result = described_class.extract(raw_with("2024-01-01 xxxxxxxxxxxxxxxxxxxx"))
+
+    expect(result.error).to eq(:too_large)
+  ensure
+    SiteSetting.hledger_max_journal_bytes = 262_144
+  end
+end
diff --git a/spec/lib/hledger/report_builder_spec.rb b/spec/lib/hledger/report_builder_spec.rb
new file mode 100644
index 0000000..5e5c862
--- /dev/null
+++ b/spec/lib/hledger/report_builder_spec.rb
@@ -0,0 +1,116 @@
+# frozen_string_literal: true
+
+class FakeHledgerRunner
+  FIXTURES = Rails.root.join("plugins/hledger/spec/fixtures")
+  FILES = {
+    "accounts" => "accounts.json",
+    "balance_sheet" => "balance_sheet.csv",
+    "income_statement" => "income_statement.csv",
+    "equity" => "equity.json",
+  }.freeze
+
+  attr_reader :version
+
+  def initialize(version: "1.52.1")
+    @version = version
+  end
+
+  def available?
+    version.present?
+  end
+
+  def execute(argv, stdin_data: nil)
+    Hledger::Runner::Result.new(
+      success: true,
+      stdout: File.read(FIXTURES.join(FILES.fetch(detect(argv)))),
+      stderr: "",
+      exit_status: 0,
+      timed_out: false,
+    )
+  end
+
+  def detect(argv)
+    return "equity" if argv.include?("^equity:")
+    return "balance_sheet" if argv.include?("bs")
+    return "income_statement" if argv.include?("is")
+
+    "accounts"
+  end
+end
+
+RSpec.describe Hledger::ReportBuilder do
+  subject(:builder) { described_class.new(runner: FakeHledgerRunner.new) }
+
+  describe "accounts" do
+    it "returns flat account rows with totals" do
+      report = builder.build("accounts", journal: "journal")
+
+      expect(report["report_type"]).to eq("accounts")
+      rows = report["sections"].first["rows"]
+      expect(rows.map { |row| row["account"] }).to include("assets:bank:checking", "equity:alice")
+      checking = rows.find { |row| row["account"] == "assets:bank:checking" }
+      expect(checking["depth"]).to eq(2)
+      expect(checking["amounts"].first["display"]).to eq("1029.50 EUR")
+      expect(report["sections"].first["total"].first["display"]).to eq("0.00 EUR")
+    end
+  end
+
+  describe "balance sheet" do
+    it "returns sections, totals and net" do
+      report = builder.build("balance_sheet", journal: "journal")
+
+      expect(report["sections"].map { |s| s["title"] }).to eq(%w[Assets Liabilities])
+      assets = report["sections"].first
+      expect(assets["total"].first["display"]).to eq("1029.50 EUR")
+      expect(report["net"].first["display"]).to eq("1029.50 EUR")
+    end
+  end
+
+  describe "income statement" do
+    it "returns sections, totals and net" do
+      report = builder.build("income_statement", journal: "journal")
+
+      expect(report["sections"].map { |s| s["title"] }).to eq(%w[Revenues Expenses])
+      expect(report["net"].first["display"]).to eq("29.50 EUR")
+    end
+  end
+
+  describe "equity" do
+    it "distributes contributed capital per holder" do
+      report = builder.build("equity", journal: "journal")
+
+      group = report["groups"].first
+      expect(group["commodity"]).to eq("EUR")
+      expect(group["total"]["quantity"]).to eq("1000.0")
+      expect(group["holders"].map { |h| h["holder"] }).to eq(%w[alice bob])
+      expect(group["holders"].map { |h| h["percentage"] }).to eq(%w[60.00 40.00])
+    end
+  end
+
+  describe "period" do
+    it "serializes the requested period" do
+      report =
+        builder.build(
+          "income_statement",
+          journal: "journal",
+          begin_date: Date.new(2024, 1, 1),
+          end_date: Date.new(2024, 3, 15),
+        )
+
+      expect(report["period"]).to eq("begin" => "2024-01-01", "end" => "2024-03-15")
+      expect(report["meta"]["hledger_version"]).to eq("1.52.1")
+    end
+  end
+
+  it "raises for unsupported report types" do
+    expect { builder.build("nope", journal: "journal") }.to raise_error(Hledger::Error)
+  end
+
+  it "raises when hledger is unavailable" do
+    unavailable = FakeHledgerRunner.new(version: nil)
+
+    expect {
+      described_class.new(runner: unavailable).build("accounts", journal: "x")
+    }.to raise_error(Hledger::UnavailableError)
+  end
+end
diff --git a/spec/lib/hledger/runner_spec.rb b/spec/lib/hledger/runner_spec.rb
new file mode 100644
index 0000000..319e85e
--- /dev/null
+++ b/spec/lib/hledger/runner_spec.rb
@@ -0,0 +1,51 @@
+# frozen_string_literal: true
+
+RSpec.describe Hledger::Runner do
+  def runner(path:, timeout: 5, max_output: 1_000)
+    described_class.new(path: path, timeout: timeout, max_output: max_output)
+  end
+
+  it "captures stdout and exit status" do
+    result = runner(path: "/bin/echo").execute(["hello"])
+
+    expect(result).to be_success
+    expect(result.stdout).to eq("hello\n")
+    expect(result.exit_status).to eq(0)
+  end
+
+  it "reports failure for a non-zero exit" do
+    expect(runner(path: "/bin/false").execute([])).not_to be_success
+  end
+
+  it "kills a process that exceeds the timeout" do
+    result = runner(path: "/bin/sleep", timeout: 1).execute(["5"])
+
+    expect(result.timed_out).to be(true)
+    expect(result).not_to be_success
+  end
+
+  it "caps captured output" do
+    result = runner(path: "/bin/sh", max_output: 10).execute(["-c", "printf '%0.sa' {1..100}"])
+
+    expect(result.stdout.bytesize).to be <= 10
+  end
+
+  it "returns a failure when the binary is missing" do
+    expect(runner(path: "/nonexistent/hledger").execute([])).not_to be_success
+  end
+
+  it "feeds stdin to the process" do
+    result = runner(path: "/bin/cat").execute([], stdin_data: "journal")
+
+    expect(result.stdout).to eq("journal")
+  end
+
+  it "does not inherit the parent environment" do
+    ENV["HLEDGER_SECRET"] = "leak"
+    result = runner(path: "/usr/bin/env").execute([])
+
+    expect(result.stdout).not_to include("HLEDGER_SECRET")
+  ensure
+    ENV.delete("HLEDGER_SECRET")
+  end
+end
diff --git a/spec/lib/pretty_text_spec.rb b/spec/lib/pretty_text_spec.rb
new file mode 100644
index 0000000..06b00b8
--- /dev/null
+++ b/spec/lib/pretty_text_spec.rb
@@ -0,0 +1,27 @@
+# frozen_string_literal: true
+
+RSpec.describe PrettyText do
+  it "renders the hledger fence as a dashboard placeholder" do
+    SiteSetting.hledger_enabled = true
+
+    cooked = PrettyText.cook(<<~MD)
+      ```hledger
+      2024-01-01 x
+          assets:cash   1 EUR
+          equity:opening -1 EUR
+      ```
+    MD
+
+    expect(cooked).to include('class="hledger-dashboard"')
+    expect(cooked).not_to include("assets:cash")
+  end
+
+  it "keeps the code block when the plugin is disabled" do
+    SiteSetting.hledger_enabled = false
+
+    cooked = PrettyText.cook("```hledger\n2024-01-01 x\n```")
+
+    expect(cooked).not_to include("hledger-dashboard")
+    expect(cooked).to include("lang-hledger")
+  end
+end
diff --git a/spec/requests/hledger/reports_spec.rb b/spec/requests/hledger/reports_spec.rb
new file mode 100644
index 0000000..5359daa
--- /dev/null
+++ b/spec/requests/hledger/reports_spec.rb
@@ -0,0 +1,134 @@
+# frozen_string_literal: true
+
+class StubHledgerRunner
+  FIXTURES = Rails.root.join("plugins/hledger/spec/fixtures")
+
+  attr_reader :version
+
+  def initialize(version: "1.52.1")
+    @version = version
+  end
+
+  def execute(argv, stdin_data: nil)
+    file =
+      if argv.include?("^equity:")
+        "equity.json"
+      elsif argv.include?("bs")
+        "balance_sheet.csv"
+      elsif argv.include?("is")
+        "income_statement.csv"
+      else
+        "accounts.json"
+      end
+
+    Hledger::Runner::Result.new(
+      success: true,
+      stdout: File.read(FIXTURES.join(file)),
+      stderr: "",
+      exit_status: 0,
+      timed_out: false,
+    )
+  end
+end
+
+RSpec.describe Hledger::ReportsController do
+  fab!(:post) { Fabricate(:post, raw: <<~RAW) }
+      Intro
+
+      ```hledger
+      2024-01-01 Opening balances
+          assets:bank:checking       1000.00 EUR
+          equity:alice               -600.00 EUR
+          equity:bob                 -400.00 EUR
+      ```
+    RAW
+
+  before do
+    SiteSetting.hledger_enabled = true
+    allow(Hledger::Runner).to receive(:new).and_return(StubHledgerRunner.new)
+    Discourse.cache.clear
+  end
+
+  def get_report(report_type, params: {})
+    get "/hledger/topics/#{post.topic_id}/reports/#{report_type}.json", params: params
+  end
+
+  it "returns the accounts report" do
+    get_report("accounts")
+
+    expect(response.status).to eq(200)
+    json = response.parsed_body
+    expect(json["report_type"]).to eq("accounts")
+    expect(json["sections"].first["rows"].map { |row| row["account"] }).to include(
+      "assets:bank:checking",
+    )
+  end
+
+  it "returns the balance sheet report" do
+    get_report("balance_sheet")
+
+    expect(response.status).to eq(200)
+    expect(response.parsed_body["sections"].map { |s| s["title"] }).to eq(%w[Assets Liabilities])
+  end
+
+  it "returns the income statement report" do
+    get_report("income_statement")
+
+    expect(response.status).to eq(200)
+    expect(response.parsed_body["net"].first["display"]).to eq("29.50 EUR")
+  end
+
+  it "returns the equity distribution" do
+    get_report("equity")
+
+    expect(response.status).to eq(200)
+    expect(response.parsed_body["groups"].first["holders"].map { |h| h["holder"] }).to eq(
+      %w[alice bob],
+    )
+  end
+
+  it "rejects unsupported report types" do
+    get_report("nope")
+
+    expect(response.status).to eq(422)
+  end
+
+  it "returns not found when the topic has no journal" do
+    post.update!(raw: "no journal here")
+
+    get_report("accounts")
+
+    expect(response.status).to eq(404)
+  end
+
+  it "rejects invalid dates" do
+    get_report("accounts", params: { begin: "not-a-date" })
+
+    expect(response.status).to eq(422)
+  end
+
+  it "returns service unavailable when hledger is missing" do
+    allow(Hledger::Runner).to receive(:new).and_return(StubHledgerRunner.new(version: nil))
+
+    get_report("accounts")
+
+    expect(response.status).to eq(503)
+  end
+
+  it "hides topics the user cannot see" do
+    private_category = Fabricate(:private_category, group: Fabricate(:group))
+    hidden_post = Fabricate(:post, topic: Fabricate(:topic, category: private_category))
+
+    get "/hledger/topics/#{hidden_post.topic_id}/reports/accounts.json"
+
+    expect(response.status).to eq(404)
+  end
+
+  it "is not found when the plugin is disabled" do
+    SiteSetting.hledger_enabled = false
+
+    get_report("accounts")
+
+    expect(response.status).to eq(404)
+  end
+end
diff --git a/test/javascripts/acceptance/hledger-test.js b/test/javascripts/acceptance/hledger-test.js
new file mode 100644
index 0000000..8ea2ea0
--- /dev/null
+++ b/test/javascripts/acceptance/hledger-test.js
@@ -0,0 +1,89 @@
+import { click, visit } from "@ember/test-helpers";
+import { test } from "qunit";
+import { cloneJSON } from "discourse/lib/object";
+import topicFixtures from "discourse/tests/fixtures/topic";
+import { acceptance } from "discourse/tests/helpers/qunit-helpers";
+
+const TOPIC_ID = 28830;
+
+const accountsReport = {
+  report_type: "accounts",
+  period: { begin: null, end: null },
+  sections: [
+    {
+      title: null,
+      rows: [
+        {
+          account: "assets:bank",
+          depth: 1,
+          amounts: [
+            { commodity: "EUR", quantity: "1000.0", display: "1000.00 EUR" },
+          ],
+        },
+      ],
+      total: [{ commodity: "EUR", quantity: "1000.0", display: "1000.00 EUR" }],
+    },
+  ],
+  net: null,
+  meta: { hledger_version: "1.52.1" },
+};
+
+const equityReport = {
+  report_type: "equity",
+  period: { begin: null, end: null },
+  groups: [
+    {
+      commodity: "EUR",
+      total: { commodity: "EUR", quantity: "1000.0", display: "1000.0 EUR" },
+      holders: [
+        {
+          holder: "alice",
+          amount: { commodity: "EUR", quantity: "600.0", display: "600.0 EUR" },
+          percentage: "60.00",
+        },
+        {
+          holder: "bob",
+          amount: { commodity: "EUR", quantity: "400.0", display: "400.0 EUR" },
+          percentage: "40.00",
+        },
+      ],
+    },
+  ],
+  meta: { hledger_version: "1.52.1" },
+};
+
+acceptance("Hledger plugin", function (needs) {
+  needs.settings({ hledger_enabled: true });
+
+  needs.pretender((server, helper) => {
+    server.get("/t/45.json", () => {
+      const topic = cloneJSON(topicFixtures["/t/28830/1.json"]);
+      topic.post_stream.posts[0].cooked = `<div class="hledger-dashboard"></div>`;
+      return helper.response(topic);
+    });
+
+    server.get(`/hledger/topics/${TOPIC_ID}/reports/accounts`, () =>
+      helper.response(accountsReport)
+    );
+    server.get(`/hledger/topics/${TOPIC_ID}/reports/equity`, () =>
+      helper.response(equityReport)
+    );
+  });
+
+  test("renders the dashboard in place of the journal", async function (assert) {
+    await visit("/t/-/45");
+
+    assert.dom(".hledger-dashboard__toolbar .btn").exists({ count: 4 });
+    assert.dom(".hledger-dashboard__table").includesText("assets:bank");
+    assert.dom(".hledger-dashboard__table").includesText("1000.00 EUR");
+  });
+
+  test("switches to the equity distribution", async function (assert) {
+    await visit("/t/-/45");
+
+    await click(".hledger-dashboard__toolbar .btn:nth-of-type(4)");
+
+    assert.dom(".hledger-dashboard__table").includesText("alice");
+    assert.dom(".hledger-dashboard__table").includesText("60.00%");
+  });
+});