<?xml version="1.0" encoding="UTF-8" standalone="yes"?>
<!--
  This file is part of the Dutch Taxonomy (Nederlandse Taxonomie; NT)
  Intellectual Property of the State of the Netherlands
  Architecture: NT13
  Version: 20181212.a
  Release date: Tue Jun 19 09:00:00 2018
-->
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    <link:label id="bzk-ti-i_WagesSalariesClassifiedAsOperatingActivities_terseLabel_de" xlink:label="bzk-ti-i_WagesSalariesClassifiedAsOperatingActivities_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Löhne und Gehälter</link:label>
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    <link:label id="bzk-ti-i_IncomeDependentHousingUnits_terseLabel_de" xlink:label="bzk-ti-i_IncomeDependentHousingUnits_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Nicht-eigentständige Wohneinheiten</link:label>
    <link:label id="bzk-ti-i_PayablesGovernmentCurrentDisclosure_terseLabel_de" xlink:label="bzk-ti-i_PayablesGovernmentCurrentDisclosure_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Offenlegung von Schulden bei der öffentlichen Hand</link:label>
    <link:label id="bzk-ti-i_PayablesGovernmentNoncurrentDisclosure_terseLabel_de" xlink:label="bzk-ti-i_PayablesGovernmentNoncurrentDisclosure_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Offenlegung von Schulden bei der öffentlichen Hand</link:label>
    <link:label id="bzk-ti-i_LoansGrantedDisclosure_terseLabel_de" xlink:label="bzk-ti-i_LoansGrantedDisclosure_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Offenlegung von gewährten Darlehen u/g</link:label>
    <link:label id="bzk-ti-i_PensionCostsClassifiedAsOperatingActivities_terseLabel_de" xlink:label="bzk-ti-i_PensionCostsClassifiedAsOperatingActivities_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Pensionsaufwendungen</link:label>
    <link:label id="bzk-ti-i_PayablesGovernmentCurrent_terseLabel_de" xlink:label="bzk-ti-i_PayablesGovernmentCurrent_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Schulden bei der öffentlichen Hand</link:label>
    <link:label id="bzk-ti-i_PayablesGovernmentNoncurrent_terseLabel_de" xlink:label="bzk-ti-i_PayablesGovernmentNoncurrent_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Schulden bei der öffentlichen Hand</link:label>
    <link:label id="bzk-ti-i_NonWSWSecuredLoanDisclosure_terseLabel_de" xlink:label="bzk-ti-i_NonWSWSecuredLoanDisclosure_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Sonstige Anmerkungen über Darlehen ohne WSW-Bürgschaft</link:label>
    <link:label id="bzk-ti-i_OperatingExpensesOtherClassifiedAsOperatingExpenses_terseLabel_de" xlink:label="bzk-ti-i_OperatingExpensesOtherClassifiedAsOperatingExpenses_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Sonstige Betriebsausgaben</link:label>
    <link:label id="bzk-ti-i_SocialSecurityContributionsClassifiedAsOperatingActivities_terseLabel_de" xlink:label="bzk-ti-i_SocialSecurityContributionsClassifiedAsOperatingActivities_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Soziale Aufwendungen</link:label>
    <link:label id="bzk-ti-i_IntramuralIncomeClassifiedAsOperatingActivities_terseLabel_de" xlink:label="bzk-ti-i_IntramuralIncomeClassifiedAsOperatingActivities_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Stationär</link:label>
    <link:label id="bzk-ti-i_TaxesSocialSecurityContributionsReceivables_terseLabel_de" xlink:label="bzk-ti-i_TaxesSocialSecurityContributionsReceivables_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Steuern und Sozialversicherungsprämien</link:label>
    <link:label id="bzk-ti-i_MaintenanceExpensesClassifiedAsOperatingExpenses_terseLabel_de" xlink:label="bzk-ti-i_MaintenanceExpensesClassifiedAsOperatingExpenses_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Wartungsaufwendungen</link:label>
    <link:label id="bzk-ti-i_PaymentsAccommodationImprovementsHousingAndNonHousingUnits_terseLabel_de" xlink:label="bzk-ti-i_PaymentsAccommodationImprovementsHousingAndNonHousingUnits_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Wohnungsverbesserung, Wohn- und Nichtwohneinheiten</link:label>
    <link:label id="bzk-ti-i_GovernmentReceivables_terseLabel_de" xlink:label="bzk-ti-i_GovernmentReceivables_terseLabel_de" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="de">Öffentliche Hand</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ti-i_GroundLeaseExpensesClassifiedAsOperatingActivities_loc" xlink:to="bzk-ti-i_GroundLeaseExpensesClassifiedAsOperatingActivities_terseLabel_de" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ti-i_InternalLoanAsset_loc" xlink:to="bzk-ti-i_InternalLoanAsset_terseLabel_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ti-i_InternalLoanLiability_loc" xlink:to="bzk-ti-i_InternalLoanLiability_terseLabel_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ti-i_IntramuralIncomeClassifiedAsOperatingActivities_loc" xlink:to="bzk-ti-i_IntramuralIncomeClassifiedAsOperatingActivities_terseLabel_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ti-i_InvestmentOtherFromInvestingActivities_loc" xlink:to="bzk-ti-i_InvestmentOtherFromInvestingActivities_terseLabel_de" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ti-i_MaintenanceExpensesClassifiedAsOperatingExpenses_loc" xlink:to="bzk-ti-i_MaintenanceExpensesClassifiedAsOperatingExpenses_terseLabel_de" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ti-i_OperatingExpensesOtherClassifiedAsOperatingExpenses_loc" xlink:to="bzk-ti-i_OperatingExpensesOtherClassifiedAsOperatingExpenses_terseLabel_de" xlink:type="arc"/>
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    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_AttributableOrganisationCostsQualifiedAsSalesRealEstatePortfolio" xlink:label="bzk-ti-i_AttributableOrganisationCostsQualifiedAsSalesRealEstatePortfolio_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_AttributableOrganisationCostsQualifiedAsSoldRealEstateInDevelopment" xlink:label="bzk-ti-i_AttributableOrganisationCostsQualifiedAsSoldRealEstateInDevelopment_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_DivestmentInvestmentProceedsOther" xlink:label="bzk-ti-i_DivestmentInvestmentProceedsOther_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_GovernmentReceivables" xlink:label="bzk-ti-i_GovernmentReceivables_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_GroundLeaseExpensesClassifiedAsOperatingActivities" xlink:label="bzk-ti-i_GroundLeaseExpensesClassifiedAsOperatingActivities_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_IncomeDependentHousingUnits" xlink:label="bzk-ti-i_IncomeDependentHousingUnits_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_IncomeIndependentRentalProperties" xlink:label="bzk-ti-i_IncomeIndependentRentalProperties_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_InternalLoanAsset" xlink:label="bzk-ti-i_InternalLoanAsset_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_InternalLoanLiability" xlink:label="bzk-ti-i_InternalLoanLiability_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_IntramuralIncomeClassifiedAsOperatingActivities" xlink:label="bzk-ti-i_IntramuralIncomeClassifiedAsOperatingActivities_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_InvestmentOtherFromInvestingActivities" xlink:label="bzk-ti-i_InvestmentOtherFromInvestingActivities_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_LoansGrantedDisclosure" xlink:label="bzk-ti-i_LoansGrantedDisclosure_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_MaintenanceExpensesClassifiedAsOperatingExpenses" xlink:label="bzk-ti-i_MaintenanceExpensesClassifiedAsOperatingExpenses_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_NonWSWSecuredLoanDisclosure" xlink:label="bzk-ti-i_NonWSWSecuredLoanDisclosure_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_OperatingExpensesOtherClassifiedAsOperatingExpenses" xlink:label="bzk-ti-i_OperatingExpensesOtherClassifiedAsOperatingExpenses_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_PayablesGovernmentCurrentDisclosure" xlink:label="bzk-ti-i_PayablesGovernmentCurrentDisclosure_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_PayablesGovernmentCurrentPolicy" xlink:label="bzk-ti-i_PayablesGovernmentCurrentPolicy_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_PayablesGovernmentCurrent" xlink:label="bzk-ti-i_PayablesGovernmentCurrent_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_PayablesGovernmentNoncurrentDisclosure" xlink:label="bzk-ti-i_PayablesGovernmentNoncurrentDisclosure_loc" xlink:type="locator"/>
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    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_PaymentsAccommodationImprovementsHousingAndNonHousingUnits" xlink:label="bzk-ti-i_PaymentsAccommodationImprovementsHousingAndNonHousingUnits_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_PaymentsNewBuildingsRentHousingAndNonHousingUnits" xlink:label="bzk-ti-i_PaymentsNewBuildingsRentHousingAndNonHousingUnits_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ti-data.xsd#bzk-ti-i_PensionCostsClassifiedAsOperatingActivities" xlink:label="bzk-ti-i_PensionCostsClassifiedAsOperatingActivities_loc" xlink:type="locator"/>
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