This article analyzes the structures that emerge during the process of narration, particularly focusing on the distinctions and interrelations between the concepts of text, fabula, and story. It discusses how narratives are subjectively presented to the reader, examining how aesthetic and semantic effects are created through focalization, temporal structures, and event sequencing. Through various examples, the internal temporal systems of narratives, anachronies, and the semantic “games” played with the reader are analyzed. This paper aims to uncover the deeper layers of narrative theory and pertains to the fields of literary analysis, semiotics, and narratology.