Let’s work through this.

**1. Find Net Debt**  
Net Debt = (Long-term borrowings + Current portion of long-term borrowings + Short-term borrowings) – Cash and cash equivalents.

For **2022** (as of 2023-01-01):  
- Long-term borrowings = 68,191,000,000  
- Current portion of long-term borrowings = 2,835,000,000  
- Short-term borrowings = 18,392,000,000  
- Cash = 11,041,000,000  

Net Debt (2022) = 68,191 + 2,835 + 18,392 – 11,041 = **78,377,000,000 EUR**.

For **2021** (as of 2022-01-01):  
- Long-term borrowings = 54,500,000,000  
- Current portion = 4,031,000,000  
- Short-term borrowings = 13,306,000,000  
- Cash = 8,858,000,000  

Net Debt (2021) = 54,500 + 4,031 + 13,306 – 8,858 = **62,979,000,000 EUR**.

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**2. Find EBITDA**  
From operating profit and depreciation/amortisation:  
Operating profit 2022 = 11,193,000,000  
Depreciation, amortisation & impairment 2022 = 7,447,000,000  
EBITDA 2022 = 11,193 + 7,447 = **18,640,000,000 EUR**.

Operating profit 2021 = 7,551,000,000  
Depreciation, amortisation & impairment 2021 = 8,507,000,000  
EBITDA 2021 = 7,551 + 8,507 = **16,058,000,000 EUR**.

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**3. Net Debt / EBITDA**  
2022: 78,377 / 18,640 ≈ **4.20x**  
2021: 62,979 / 16,058 ≈ **3.92x**  

Year-on-year change = 4.20 – 3.92 = **+0.28x**.

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**4. Judgment**  
A change of +0.28x is within the ±0.3x threshold, so it qualifies as **Stable**.

<answer>Stable</answer>