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<!--
  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_InvestedMonies_totalLabel_fr" xlink:label="bzk-ti-i_InvestedMonies_totalLabel_fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="fr">Total de la valeur de bilan des fonds investis</link:label>
    <link:label id="bzk-ti-i_SalesToThirdParties_totalLabel_fr" xlink:label="bzk-ti-i_SalesToThirdParties_totalLabel_fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="fr">Total de ventes à des tiers</link:label>
    <link:label id="bzk-ti-i_ChangesValueRealEstatePortfolio_totalLabel_fr" xlink:label="bzk-ti-i_ChangesValueRealEstatePortfolio_totalLabel_fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="fr">Total des changements de valeur immeubles de placement</link:label>
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    <link:label id="bzk-ti-i_HousingFacilitiesSoldUnderConditions_totalLabel_fr" xlink:label="bzk-ti-i_HousingFacilitiesSoldUnderConditions_totalLabel_fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="fr">Total des logements vendus sous conditions</link:label>
    <link:label id="bzk-ti-i_HousingFacilitiesSoldUnderConditionsMovement_totalLabel_fr" xlink:label="bzk-ti-i_HousingFacilitiesSoldUnderConditionsMovement_totalLabel_fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="fr">Total des mouvements logements vendus sous conditions</link:label>
    <link:label id="bzk-ti-i_NetResultOtherActivities_totalLabel_fr" xlink:label="bzk-ti-i_NetResultOtherActivities_totalLabel_fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="fr">Total des résultat net d'autres activités</link:label>
    <link:label id="bzk-ti-i_NetResultExploitationOfRealEstatePortfolio_totalLabel_fr" xlink:label="bzk-ti-i_NetResultExploitationOfRealEstatePortfolio_totalLabel_fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="fr">Total des résultat net d'exploitation du portefeuille immobilier</link:label>
    <link:label id="bzk-ti-i_NetResultSoldRealEstateInDevelopment_totalLabel_fr" xlink:label="bzk-ti-i_NetResultSoldRealEstateInDevelopment_totalLabel_fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="fr">Total des résultat net du portefeuille immobilier vendu en développement</link:label>
    <link:label id="bzk-ti-i_NetRealisedResultSalesRealEstatePortfolio_totalLabel_fr" xlink:label="bzk-ti-i_NetRealisedResultSalesRealEstatePortfolio_totalLabel_fr" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="fr">Total des résultat net réalisé à la vente du portefeuille immobilier</link:label>
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