Let’s break this down step by step.

**Step 1 – Determine Net Debt for 2022 and 2023**  
Net Debt is not directly given, but we can approximate it from the balance sheet:

- **Debt components** (noncurrent + current financial liabilities):  
  - 2023: Other Noncurrent Financial Liabilities = 5,867M + Other Current Financial Liabilities = 1,022M → Total = 6,889M  
  - 2022: 4,322M + 746M = 5,068M  

- **Cash and Cash Equivalents**:  
  - 2023: 2,584M  
  - 2022: 964M  

- **Other Current Financial Assets** (might include debt-like items but usually small, included for completeness):  
  - 2023: 14M  
  - 2022: 9M  

- Net Debt approximate = (Noncurrent financial liabilities + Current financial liabilities) - (Cash + Current financial assets):  
  - 2023: 6,889 - (2,584 + 14) = 4,291M  
  - 2022: 5,068 - (964 + 9) = 4,095M  

**Step 2 – EBITDA for the two years**  
Given directly:  
- 2023 (FY 2022): EBITDA = 1,505M  
- 2022 (FY 2021): EBITDA = 1,428M  

**Step 3 – Net Debt / EBITDA**  
- 2023: 4,291 / 1,505 ≈ 2.85x  
- 2022: 4,095 / 1,428 ≈ 2.87x  

**Step 4 – Compute the gap**  
2.85 - 2.87 = -0.02x  

Since the gap (-0.02x) is between -0.3x and +0.3x, the trend is **Stable**.

<answer>Stable</answer>