<?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
-->
<link:linkbase xmlns:gen="http://xbrl.org/2008/generic" xmlns:label="http://xbrl.org/2008/label" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://xbrl.org/2008/generic http://www.xbrl.org/2008/generic-link.xsd http://xbrl.org/2008/label http://www.xbrl.org/2008/generic-label.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2008/role/label" xlink:href="http://www.xbrl.org/2008/generic-label.xsd#standard-label" xlink:type="simple"/>
  <link:roleRef roleURI="urn:kvk:linkrole:notes-consolidated-investments-financial-instruments-movement-investment-firm" xlink:href="../dictionary/kvk-linkroles-investment-firm.xsd#kvk-lr-be_NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm" xlink:type="simple"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/arcrole/2008/element-label" xlink:href="http://www.xbrl.org/2008/generic-label.xsd#element-label" xlink:type="simple"/>
  <gen:link xlink:role="urn:kvk:linkrole:notes-consolidated-investments-financial-instruments-movement-investment-firm" xlink:type="extended">
    <gen:arc order="1" xlink:arcrole="http://xbrl.org/arcrole/2008/element-label" xlink:from="valueAssertion_NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtFST1PeriodStartMutationPeriodEnd1_loc" xlink:to="NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtFST1PeriodStartMutationPeriodEnd1_label_NL" xlink:type="arc"/>
    <gen:arc order="1" xlink:arcrole="http://xbrl.org/arcrole/2008/element-label" xlink:from="valueAssertion_NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtSumOfChildrenParentDebit1E1_loc" xlink:to="NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtSumOfChildrenParentDebit1E1_label_NL" xlink:type="arc"/>
    <label:label id="NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtFST1PeriodStartMutationPeriodEnd1_label_NL" xlink:label="NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtFST1PeriodStartMutationPeriodEnd1_label_NL" xlink:role="http://www.xbrl.org/2008/role/label" xlink:type="resource" xml:lang="nl">Gerapporteerde waarde van InvestmentsBookValue aan het einde van de periode BEHOORT gelijk te zijn aan de sommatie van de gerapporteerde waarde van InvestmentsBookValue aan het begin van de periode en de mutaties gedurende de periode, InvestmentsMovement.</label:label>
    <label:label id="NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtSumOfChildrenParentDebit1E1_label_NL" xlink:label="NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtSumOfChildrenParentDebit1E1_label_NL" xlink:role="http://www.xbrl.org/2008/role/label" xlink:type="resource" xml:lang="nl">InvestmentsMovement BEHOORT gelijk te zijn aan de sommatie van de onderliggende waarden.</label:label>
    <link:loc xlink:href="kvk-notes-consolidated-investments-financial-instruments-movement-investment-firm-for.xml#valueAssertion_NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtFST1PeriodStartMutationPeriodEnd1" xlink:label="valueAssertion_NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtFST1PeriodStartMutationPeriodEnd1_loc" xlink:type="locator"/>
    <link:loc xlink:href="kvk-notes-consolidated-investments-financial-instruments-movement-investment-firm-for.xml#valueAssertion_NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtSumOfChildrenParentDebit1E1" xlink:label="valueAssertion_NotesConsolidatedInvestmentsFinancialInstrumentsMovementInvestmentFirm_PrtSumOfChildrenParentDebit1E1_loc" xlink:type="locator"/>
  </gen:link>
</link:linkbase>
