Let’s break this down step-by-step.

**Step 1 – Compute Net Debt for 2022 and 2023**  
Net Debt = Short-term financial debt + Long-term financial debt – Cash and cash equivalents – Current financial assets (non-other)  
(We exclude “Other current financial assets” from the latter since they are separate.)

For **2022-01-01**:  
- Short-term financial liabilities: 591,188,000 EUR  
- Long-term financial liabilities: 5,785,707,000 EUR  
- Cash and cash equivalents: 1,391,763,000 EUR  
- Current financial assets (excl. other): 5,120,000 EUR  

Net Debt (start of 2022) = 591,188,000 + 5,785,707,000 – 1,391,763,000 – 5,120,000  
= 4,980,012,000 EUR  

For **2023-01-01**:  
- Short-term financial liabilities: 142,437,000 EUR  
- Long-term financial liabilities: 6,402,913,000 EUR  
- Cash and cash equivalents: 451,946,000 EUR  
- Current financial assets (excl. other): 5,770,000 EUR  

Net Debt (start of 2023) = 142,437,000 + 6,402,913,000 – 451,946,000 – 5,770,000  
= 6,087,634,000 EUR  

**Step 2 – Compute EBITDA for 2022 and 2023**  
EBITDA = Operating profit + Depreciation, amortization and impairment  

For **2021-01-01 to 2022-01-01 (FY2022)**:  
Operating profit: 583,231,000 EUR  
Depreciation/amortization/impairment: 445,251,000 EUR  
EBITDA (FY2022) = 583,231,000 + 445,251,000 = 1,028,482,000 EUR  

For **2022-01-01 to 2023-01-01 (FY2023)**:  
Operating profit: 641,338,000 EUR  
Depreciation/amortization/impairment: 479,186,000 EUR  
EBITDA (FY2023) = 641,338,000 + 479,186,000 = 1,120,524,000 EUR  

**Step 3 – Leverage ratios**  
FY2022 leverage = 4,980,012,000 / 1,028,482,000 ≈ 4.84x  
FY2023 leverage = 6,087,634,000 / 1,120,524,000 ≈ 5.43x  

**Step 4 – Trend**  
5.43 – 4.84 = +0.59x → exceeds +0.3x → Deteriorating.

<answer>Deteriorating</answer>