Others are far more educated on the nitrogen cycle than me, but I'll give it a go
Ammonia is produced in your pond by fish waste and organic debris ( leaves etc ), then there is another bacteria that converts the ammonia to nitrite, which is still toxic to fish. Then, along come another bacteria that converts the nitrite to nitrate, which is ok for fish at low levels. Plants and algae will consume the nutrients in nitrogen, making the pond fish safe.
I think the cycle takes awhile, a few weeks. This is what others are referring to when they mention cycling ...it's the nitrogen cycle that takes place in your pond water and filter. Ammonia and nitrite are toxic to the fish. Hopefully, I've explained this properly