diff --git a/src/compile.rs b/src/compile.rs
index 26eca75..a3b7584 100644
--- a/src/compile.rs
+++ b/src/compile.rs
@@ -479,7 +479,9 @@ impl<O: OutputStream> Compiler<O> {
 
                 self.compile_statements(body)?;
 
-                for end_label in end_labels {
+                // sort of "stack up" the layers of with blocks:
+                // with a, b: body -> start_with(a) start_with(b) body() end_with(b) end_with(a)
+                for end_label in end_labels.into_iter().rev() {
                     self.emit(Instruction::PopBlock);
                     self.emit(Instruction::EnterFinally);
                     self.set_label(end_label);