What are these terms called?

Etc:

I am a $ exporter hedging my 8m pound receivables using forward contract, 90 days later the Euro depreciated:

Quoted rate (t=0): $1.5950/pound; $12,760,000

Current rate (t=90): $1.56/pound; $12,480,000

Balance: +$280,000

What do i call the +$280,000 as? Is it a profit? And if the Euro appreciated, what do i call the -ve $ balance as?

Sorry its pound not Euro, I mistyped