For a Class 1 Lever to be balanced (in equilibrium) the force times the distance that force is acting from the fulcrum (or pivot point) should equal to that of the force on the opposite side times the distance that force is acting from the fulcrum on the other side.
The product of a force times its distance from the fulcrum is sometimes called a moment of force. On one side there is a cockwise moment and on the other an anticlockwise moment.