LAZIO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
LAZIO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€151,372
2024 · €597,553-€748,925
Equity
€1.2m
2024 · €1.3m-€151,372
Cash
€8,308
2024 · €86,665-€78,357
Balance sheet total
€4.9m
2024 · €4.5m+€352,698
Largest movements
Assets
- Stocks and contracts +€540,081
up €540,081 (+26.9%), from €2.0m to €2.5m
- Receivables within one year -€113,035
down €113,035 (-25.2%), from €449,316 to €336,282
of which Other amounts receivable: -€116,635
- Cash -€78,357
down €78,357 (-90.4%), from €86,665 to €8,308
mainly Stocks and contracts (-€540,081) and Net result for the year (-€151,372)
Equity and liabilities
- Debts after one year +€234,212
up €234,212 (+10.8%), from €2.2m to €2.4m
of which Financial debts: +€233,706
- Trade debts +€229,630
up €229,630 (+50.9%), from €451,364 to €680,994
- Profit (loss) carried forward -€120,060
down €120,060 (-144%), from -€83,608 to -€203,669
Income statement
- Gross operating margin -€968,860
down €968,860 (-96.5%), from €1.0m to €34,846
- Depreciation +€39,172
up €39,172 (+74.7%), from €52,413 to €91,585
- Other operating charges -€12,888
down €12,888 (-28.5%), from €45,247 to €32,359
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€597,553
Gross operating margin
-€968,860
Depreciation
-€39,172
Other operating charges
+€12,888
Financial income
-€2,960
Financial charges
+€2,153
Taxes
+€289
Deferred taxes and other
+€246,737
Result 2025
-€151,372
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€242,201
Investment
-€95,041
Financing
+€258,885
Cash 2024
€86,665
From operations (derived)
-€242,201
Net result for the year
-€151,372
Depreciation
+€91,585
Stocks and contracts
-€540,081
Receivables within one year
+€113,035
Deferred charges and accrued income
-€552
Provisions
-€11,150
Trade debts
+€229,630
Tax, wage and social debts
+€1,527
Other debts
+€25,179
Investment (derived)
-€95,041
Investment in fixed assets (net)
-€95,041
Financing
+€258,885
Debts after one year
+€234,212
Current portion of long-term debt
+€14,482
Short-term financial debts
+€10,190
Cash 2025
€8,308
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,506,170 | €4,858,869 | +€352,698 | +7.8% |
| Fixed assets | 21/28 | €1,959,947 | €1,963,404 | +€3,457 | +0.2% |
| Intangible fixed assets | 21 | €350 | €0 | -€350 | -100% |
| Tangible fixed assets | 22/27 | €1,959,268 | €1,963,074 | +€3,806 | +0.2% |
| Land and buildings | 22 | €1,956,154 | €1,962,185 | +€6,031 | +0.3% |
| Furniture and vehicles | 24 | €3,113 | €888 | -€2,225 | -71.5% |
| Financial fixed assets | 28 | €330 | €330 | = | 0.0% |
| Current assets | 29/58 | €2,546,223 | €2,895,465 | +€349,242 | +13.7% |
| Stocks and contracts in progress | 3 | €2,009,134 | €2,549,215 | +€540,081 | +26.9% |
| Stocks | 30/36 | €2,009,134 | €2,549,215 | +€540,081 | +26.9% |
| Amounts receivable within one year | 40/41 | €449,316 | €336,282 | -€113,035 | -25.2% |
| Trade receivables | 40 | €24,568 | €28,168 | +€3,600 | +14.7% |
| Other amounts receivable | 41 | €424,748 | €308,114 | -€116,635 | -27.5% |
| Cash at bank and in hand | 54/58 | €86,665 | €8,308 | -€78,357 | -90.4% |
| Deferred charges and accrued income | 490/1 | €1,108 | €1,660 | +€552 | +49.8% |
| Total equity and liabilities | 10/49 | €4,506,170 | €4,858,869 | +€352,698 | +7.8% |
| Equity | 10/15 | €1,342,860 | €1,191,487 | -€151,372 | -11.3% |
| Contributions | 10/11 | €125,500 | €125,500 | = | 0.0% |
| Capital | 10 | €125,500 | €125,500 | = | 0.0% |
| Issued capital | 100 | €125,500 | €125,500 | = | 0.0% |
| Reserves | 13 | €1,300,968 | €1,269,656 | -€31,312 | -2.4% |
| Non-distributable reserves | 130/1 | €12,550 | €12,550 | = | 0.0% |
| Legal reserve | 130 | €12,550 | €12,550 | = | 0.0% |
| Tax-exempt reserves | 132 | €793,138 | €761,826 | -€31,312 | -3.9% |
| Distributable reserves | 133 | €495,280 | €495,280 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,608 | -€203,669 | -€120,060 | -144% |
| Provisions and deferred taxes | 16 | €317,831 | €306,680 | -€11,150 | -3.5% |
| Provisions for liabilities and charges | 160/5 | €52,125 | €52,125 | = | 0.0% |
| Pensions and similar obligations | 160 | €52,125 | €52,125 | = | 0.0% |
| Deferred taxes | 168 | €265,705 | €254,555 | -€11,150 | -4.2% |
| Amounts payable | 17/49 | €2,845,480 | €3,360,701 | +€515,221 | +18.1% |
| Amounts payable after more than one year | 17 | €2,162,939 | €2,397,151 | +€234,212 | +10.8% |
| Financial debts | 170/4 | €2,160,043 | €2,393,749 | +€233,706 | +10.8% |
| Other amounts payable | 178/9 | €2,896 | €3,402 | +€506 | +17.5% |
| Amounts payable within one year | 42/48 | €675,841 | €956,850 | +€281,009 | +41.6% |
| Current portion of amounts payable after more than one year | 42 | €118,664 | €133,147 | +€14,482 | +12.2% |
| Financial debts | 43 | €495 | €10,686 | +€10,190 | +2,058% |
| Credit institutions | 430/8 | €495 | €10,686 | +€10,190 | +2,058% |
| Trade debts | 44 | €451,364 | €680,994 | +€229,630 | +50.9% |
| Suppliers | 440/4 | €451,364 | €680,994 | +€229,630 | +50.9% |
| Taxes, remuneration and social security | 45 | €29,585 | €31,112 | +€1,527 | +5.2% |
| Taxes | 450/3 | €29,585 | €29,862 | +€277 | +0.9% |
| Remuneration and social security | 454/9 | - | €1,250 | +€1,250 | |
| Other amounts payable | 47/48 | €75,732 | €100,911 | +€25,179 | +33.2% |
| Accrued charges and deferred income | 492/3 | €6,700 | €6,700 | = | 0.0% |
| Non-recurring operating income | 76A | €1,019,348 | €22,272 | -€997,076 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,413 | €91,585 | +€39,172 | +74.7% |
| Other operating charges | 640/8 | €45,247 | €32,359 | -€12,888 | -28.5% |
| Gross operating margin | 9900 | €1,003,706 | €34,846 | -€968,860 | -96.5% |
| Operating profit (loss) | 9901 | €906,047 | -€89,098 | -€995,144 | |
| Financial income | 75/76B | €8,035 | €5,075 | -€2,960 | -36.8% |
| Recurring financial income | 75 | €8,035 | €5,075 | -€2,960 | -36.8% |
| Financial charges | 65/66B | €80,490 | €78,337 | -€2,153 | -2.7% |
| Recurring financial charges | 65 | €80,490 | €78,337 | -€2,153 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €833,592 | -€162,360 | -€995,952 | |
| Transfer from deferred taxes | 780 | €4,579 | €11,150 | +€6,571 | +143% |
| Transfer to deferred taxes | 680 | €240,166 | €0 | -€240,166 | -100% |
| Income taxes | 67/77 | €452 | €163 | -€289 | -64.0% |
| Profit (loss) for the period | 9904 | €597,553 | -€151,372 | -€748,925 | |
| Transfer from tax-exempt reserves | 789 | €11,599 | €31,312 | +€19,713 | +170% |
| Transfer to tax-exempt reserves | 689 | €720,498 | €0 | -€720,498 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€111,346 | -€120,060 | -€8,714 | -7.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.