<?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: NT20
  Version: 20251210
  Release date: October 31, 2025
-->
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    <link:label id="bzk-ww-i_InterestPaidInternalLoansClassifiedAsOperatingActivities_negatedLabel_en" xlink:label="bzk-ww-i_InterestPaidInternalLoansClassifiedAsOperatingActivities_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Interest paid internal loan</link:label>
    <link:label id="bzk-ww-i_LessorLevy_negatedLabel_en" xlink:label="bzk-ww-i_LessorLevy_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Lessor levy</link:label>
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    <link:label id="bzk-ww-i_LiveabilityExpenses_negatedLabel_en" xlink:label="bzk-ww-i_LiveabilityExpenses_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Liveability expenses</link:label>
    <link:label id="bzk-ww-i_LiveabilityExternalExpensesProjectRelated_negatedLabel_en" xlink:label="bzk-ww-i_LiveabilityExternalExpensesProjectRelated_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Liveability external expenses project related</link:label>
    <link:label id="bzk-ww-i_ManagementExitManagementExpenses_negatedLabel_en" xlink:label="bzk-ww-i_ManagementExitManagementExpenses_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Management exit (management expenses)</link:label>
    <link:label id="bzk-ww-i_DemolitionMarketValue_negatedLabel_en" xlink:label="bzk-ww-i_DemolitionMarketValue_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Market value of demolition</link:label>
    <link:label id="bzk-ww-i_SaleToFutureResidentsMarketValue_negatedLabel_en" xlink:label="bzk-ww-i_SaleToFutureResidentsMarketValue_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Market value of sale to future residents</link:label>
    <link:label id="bzk-ww-i_SaleToOtherPartiesMarketValue_negatedLabel_en" xlink:label="bzk-ww-i_SaleToOtherPartiesMarketValue_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Market value of sale to other parties</link:label>
    <link:label id="bzk-ww-i_PaymentsNewBuildingsRentHousingAndNonHousingUnits_negatedLabel_en" xlink:label="bzk-ww-i_PaymentsNewBuildingsRentHousingAndNonHousingUnits_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">New buildings rent</link:label>
    <link:label id="bzk-ww-i_NewBuildingsSaleHousingAndNonHousingUnits_negatedLabel_en" xlink:label="bzk-ww-i_NewBuildingsSaleHousingAndNonHousingUnits_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">New buildings sale</link:label>
    <link:label id="bzk-ww-i_DirectOperationalExpensesOtherExploitationPossession_negatedLabel_en" xlink:label="bzk-ww-i_DirectOperationalExpensesOtherExploitationPossession_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Other direct operational expenses for exploitation in possession</link:label>
    <link:label id="bzk-ww-i_OrganisationCostsOther_negatedLabel_en" xlink:label="bzk-ww-i_OrganisationCostsOther_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Other organisation costs</link:label>
    <link:label id="bzk-ww-i_PaymentsCompoundClassifiedAsInvestingActivities_negatedLabel_en" xlink:label="bzk-ww-i_PaymentsCompoundClassifiedAsInvestingActivities_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Payments compound</link:label>
    <link:label id="bzk-ww-i_PaymentsOtherClassifiedAsInvestingActivities_negatedLabel_en" xlink:label="bzk-ww-i_PaymentsOtherClassifiedAsInvestingActivities_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Payments other</link:label>
    <link:label id="bzk-ww-i_DemolitionPolicyValue_negatedLabel_en" xlink:label="bzk-ww-i_DemolitionPolicyValue_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Policy value of demolition</link:label>
    <link:label id="bzk-ww-i_SaleToFutureResidentsPolicyValue_negatedLabel_en" xlink:label="bzk-ww-i_SaleToFutureResidentsPolicyValue_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Policy value of sale to future residents</link:label>
    <link:label id="bzk-ww-i_SaleToOtherPartiesPolicyValue_negatedLabel_en" xlink:label="bzk-ww-i_SaleToOtherPartiesPolicyValue_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Policy value of sale to other parties</link:label>
    <link:label id="bzk-ww-i_ProvideInternalLoanClassifiedAsInvestingActivities_negatedLabel_en" xlink:label="bzk-ww-i_ProvideInternalLoanClassifiedAsInvestingActivities_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Provide internal loan</link:label>
    <link:label id="bzk-ww-i_PurchaseHousingUnitsVOVForResale_negatedLabel_en" xlink:label="bzk-ww-i_PurchaseHousingUnitsVOVForResale_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Purchase housing units (VOV) for resale</link:label>
    <link:label id="bzk-ww-i_PurchaseLand_negatedLabel_en" xlink:label="bzk-ww-i_PurchaseLand_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Purchase land</link:label>
    <link:label id="bzk-ww-i_PurchaseHousingAndNonHousingUnits_negatedLabel_en" xlink:label="bzk-ww-i_PurchaseHousingAndNonHousingUnits_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Purchase</link:label>
    <link:label id="bzk-ww-i_QualityExitMaintenance_negatedLabel_en" xlink:label="bzk-ww-i_QualityExitMaintenance_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Quality exit (maintenance)</link:label>
    <link:label id="bzk-ww-i_RedemptionDAEBInvestmentNonWSWSecuredLoans_negatedLabel_en" xlink:label="bzk-ww-i_RedemptionDAEBInvestmentNonWSWSecuredLoans_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Redemption DAEB investments loans not secured by WSW</link:label>
    <link:label id="bzk-ww-i_RedemptionNonDAEBInvestmentNonWSWSecuredLoans_negatedLabel_en" xlink:label="bzk-ww-i_RedemptionNonDAEBInvestmentNonWSWSecuredLoans_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Redemption non-DAEB investments loans not secured by WSW</link:label>
    <link:label id="bzk-ww-i_RedemptionWSWSecuredLoans_negatedLabel_en" xlink:label="bzk-ww-i_RedemptionWSWSecuredLoans_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Redemption secured by WSW</link:label>
    <link:label id="bzk-ww-i_RedemptionNonSecuredLoans_negatedLabel_en" xlink:label="bzk-ww-i_RedemptionNonSecuredLoans_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Redemption secured loans</link:label>
    <link:label id="bzk-ww-i_RedemptionSecuredLoans_negatedLabel_en" xlink:label="bzk-ww-i_RedemptionSecuredLoans_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Redemption secured loans</link:label>
    <link:label id="bzk-ww-i_Redemption_negatedLabel_en" xlink:label="bzk-ww-i_Redemption_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Redemption</link:label>
    <link:label id="bzk-ww-i_RepaymentsExistingLoansFromTIClassifiedAsFinancingActivities_negatedLabel_en" xlink:label="bzk-ww-i_RepaymentsExistingLoansFromTIClassifiedAsFinancingActivities_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Repayment existing loans from authorized institution</link:label>
    <link:label id="bzk-ww-i_RepaymentsInternalLoansClassifiedAsFinancingActivities_negatedLabel_en" xlink:label="bzk-ww-i_RepaymentsInternalLoansClassifiedAsFinancingActivities_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Repayment internal loan</link:label>
    <link:label id="bzk-ww-i_SectorSpecificLevyIndependentOfResult_negatedLabel_en" xlink:label="bzk-ww-i_SectorSpecificLevyIndependentOfResult_negatedLabel_en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en">Sector specific levy independent of results</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_AttributableFinancingCosts_loc" xlink:to="bzk-ww-i_AttributableFinancingCosts_negatedLabel_en" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_BookValueRealEstatePortfolioSold_loc" xlink:to="bzk-ww-i_BookValueRealEstatePortfolioSold_negatedLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_CorporateTaxClassifiedAsOperatingActivities_loc" xlink:to="bzk-ww-i_CorporateTaxClassifiedAsOperatingActivities_negatedLabel_en" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_DemolitionExpensesHousingAndNonHousingUnits_loc" xlink:to="bzk-ww-i_DemolitionExpensesHousingAndNonHousingUnits_negatedLabel_en" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_DirectOperationalExpensesOtherExploitationPossession_loc" xlink:to="bzk-ww-i_DirectOperationalExpensesOtherExploitationPossession_negatedLabel_en" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_ExternalCostAtSale_loc" xlink:to="bzk-ww-i_ExternalCostAtSale_negatedLabel_en" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_LiveabilityExpenses_loc" xlink:to="bzk-ww-i_LiveabilityExpenses_negatedLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_LiveabilityExternalExpensesProjectRelated_loc" xlink:to="bzk-ww-i_LiveabilityExternalExpensesProjectRelated_negatedLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_MaintenanceExpenses_loc" xlink:to="bzk-ww-i_MaintenanceExpenses_negatedLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_ManagementExitManagementExpenses_loc" xlink:to="bzk-ww-i_ManagementExitManagementExpenses_negatedLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_NewBuildingsSaleHousingAndNonHousingUnits_loc" xlink:to="bzk-ww-i_NewBuildingsSaleHousingAndNonHousingUnits_negatedLabel_en" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_PurchaseHousingAndNonHousingUnits_loc" xlink:to="bzk-ww-i_PurchaseHousingAndNonHousingUnits_negatedLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-i_PurchaseHousingUnitsVOVForResale_loc" xlink:to="bzk-ww-i_PurchaseHousingUnitsVOVForResale_negatedLabel_en" xlink:type="arc"/>
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