Before you can read the parent note Mass Budgets, you must be able to read its symbols. This page builds each one from nothing — plain words, a picture, and the reason the topic can't live without it.
Picture a spacecraft as a bag. Every item you drop in — a bolt, a camera, a tank of fuel — adds to the total mass. The little symbol m just means "the mass of some named thing", and the word in the subscript tells you which thing:
mstructure = mass of the metal frame,
mpayload = mass of the instruments,
mpropellant = mass of the fuel.
The + \ldots you see in the parent note (m_structure + m_payload + …) is just "and keep adding the rest of the parts" — the three dots mean "the list continues".
The words come from a fuel tank: wet = tank full of liquid, dry = tank emptied out. Read the equation left to right: total mass = empty mass + fuel mass. Rearranged, the fuel is just the gap between the two:
Picture ΔV as the distance on a speed dial you must move the ship. Reaching low orbit is a big turn of the dial; nudging a satellite against drag is a tiny turn.
The fraction mdrymwet, initial is called the mass ratio: "how many times heavier the fuelled ship is than the empty ship". A mass ratio of 2 means half the launch mass was fuel. Bigger ratio → more fuel → more ΔV.
Why does a logarithm appear at all? Because burning fuel is a compounding process: each kilogram of fuel you burn was, moments earlier, being carried by the fuel below it. Compounding effects are exactly what logarithms and their partner ex describe. The ln turns a multiplying-mass-ratio into an adding-up-speed.
The quantity eΔV/ve is simply the mass ratio written a different way. If ΔV=6km/s and ve=3km/s, then ΔV/ve=2 and the mass ratio is e2≈7.39 — the fuelled ship must be over seven times the empty ship.
Read it upward: masses and speeds and the log feed the rocket equation, and the rocket equation plus the margin idea give you the full mass budget the parent note lives in.