The Upper Anisian to Early Carnian succession of the Middle Val Brembana–Pegherolo Massif (Central Southern Alps of Italy) records a complete depositional cycle from platform inception to growth, demise and rebirth. The depositional architecture of this system reflects different evolutionary stages: an inception stage which postdates a previous drowning of an Anisian carbonate platform with progradation of the carbonate platform from the nucleation areas, an aggradational stage with increasing water depth in the basins, a progradational stage where steep slopes composed of margin-derived breccias develop and a final crisis corresponding to the subaerial exposure of the platform top, followed by the deposition of shales in the basin before the rebirth of a different type of carbonate factory. The record of this evolution reflects the effects of the change in accommodation space (interplay of subsidence and eustacy), which controls the type and storage sites of the sediments produced by the carbonate factory. The effects of the changes in accommodation space are recorded in the shallow water platform as well as in the intraplatform basins, where the sediments, delivered at different rates from the platform top are stored. As a consequence, the aggradational stage corresponds to reduced sedimentation in the basins (i.e. sediments are stored on the platform top) whereas during progradation resedimented limestones are more common in the basin. Subaerial exposure rapidly halted the carbonate production on the platform top, while a major input of shales (probably reflecting a climate change and/or lowering of the base level) is recorded in the basin, where shales onlap the slope of the previous carbonate system. The rebirth of the carbonate factory after subaerial exposure of the platform top is characterized by a different composition of the carbonate factory, probably reflecting changes of the environmental conditions. The step-by-step recording of the evolution of the carbonate system represents a unique opportunity to record a seismic-scale complete evolutionary cycle of a carbonate system in its different sub-environments, from the platform top to the basin.