| Lazio beat Bologna 2-1 (H) on 21 Feb 1932 |
| Bologna beat Genova 1893 2-0 (H) on 8 Nov 1931 |
| Genova 1893 beat Brescia Calcio 4-0 (H) on 20 Dec 1931 |
| Brescia Calcio beat Triestina 2-1 (H) on 29 Nov 1931 |
| Triestina beat Fiorentina 2-1 (H) on 18 Oct 1931 |
| Fiorentina beat Pro Patria 1-0 (H) on 6 Dec 1931 |
| Pro Patria beat Alessandria 2-1 (H) on 27 Dec 1931 |
| Alessandria beat Bari 3-0 (H) on 25 Oct 1931 |
| Bari beat Pro Vercelli 1-0 (H) on 10 Jan 1932 |
| Pro Vercelli beat Torino 2-0 (H) on 11 Oct 1931 |
| Torino beat Napoli 4-1 (H) on 6 Dec 1931 |
| Napoli beat Juventus 2-0 (H) on 7 Feb 1932 |
| Juventus beat Modena 3-0 (H) on 3 Jan 1932 |
| Modena beat Ambrosiana Inter 3-1 (H) on 1 Nov 1931 |
| Ambrosiana Inter beat Casale 4-0 (H) on 31 Jan 1932 |
| Casale beat Roma 1-0 (H) on 8 Nov 1931 |
| Roma beat Milan 2-1 (A) on 17 Jan 1932 |
| Milan beat Lazio 2-0 (H) on 7 Feb 1932 |
HWC: Thick arrows show the earliest chain of wins that passes through every team and returns to its start.