<?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
-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink">
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="bzk-ww-dm_DAEBNonDAEBActivitiesMember_label_de" xlink:label="bzk-ww-dm_DAEBNonDAEBActivitiesMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">DAWI- und Nicht-DAWI-Aktivitäten</link:label>
    <link:label id="bzk-ww-dm_DAEBNonDAEBActivitiesCompoundMember_label_de" xlink:label="bzk-ww-dm_DAEBNonDAEBActivitiesCompoundMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">DAWI-, Nicht-DAWI- und Aktivitäten in Verbindung</link:label>
    <link:label id="bzk-ww-dm_DAEBActivitiesMember_label_de" xlink:label="bzk-ww-dm_DAEBActivitiesMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">DAWI-Aktivitäten</link:label>
    <link:label id="bzk-ww-dm_LandPositionsConstructionMember_label_de" xlink:label="bzk-ww-dm_LandPositionsConstructionMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Grundbesitzposten mit Bebauungszweck</link:label>
    <link:label id="bzk-ww-dm_LandPositionsNoConstructionMember_label_de" xlink:label="bzk-ww-dm_LandPositionsNoConstructionMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Grundbesitzposten ohne Bebauungszweck</link:label>
    <link:label id="bzk-ww-dm_PayablesGovernmentNoncurrentMember_label_de" xlink:label="bzk-ww-dm_PayablesGovernmentNoncurrentMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Grundlage von Schulden bei der öffentlichen Hand (langfristig)</link:label>
    <link:label id="bzk-ww-dm_RealEstateInDevelopmentForOwnExploitationMember_label_de" xlink:label="bzk-ww-dm_RealEstateInDevelopmentForOwnExploitationMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Immobilie(n) in Entwicklung, vorgesehen zur eigenen Verwertung</link:label>
    <link:label id="bzk-ww-dm_LandPositionsBalanceSheetMember_label_de" xlink:label="bzk-ww-dm_LandPositionsBalanceSheetMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">In der Bilanz ausgewiesene Grundbesitzposten</link:label>
    <link:label id="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsNewBuildingsMember_label_de" xlink:label="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsNewBuildingsMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Neugebaute verkaufte Wohneinheiten unter Bedingungen</link:label>
    <link:label id="bzk-ww-dm_LandPositionsOffBalanceSheetMember_label_de" xlink:label="bzk-ww-dm_LandPositionsOffBalanceSheetMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Nicht in der Bilanz ausgewiesene Grundbesitzposten</link:label>
    <link:label id="bzk-ww-dm_CompoundNonDAEBActivitiesMember_label_de" xlink:label="bzk-ww-dm_CompoundNonDAEBActivitiesMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Nicht-DAWI-Aktivitäten in Verbindungen</link:label>
    <link:label id="bzk-ww-dm_NonDAEBActivitiesMember_label_de" xlink:label="bzk-ww-dm_NonDAEBActivitiesMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Nicht-DAWI-Aktivitäten</link:label>
    <link:label id="bzk-ww-dm_RealEstateSoldSubjectTermsConditionsMember_label_de" xlink:label="bzk-ww-dm_RealEstateSoldSubjectTermsConditionsMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Unbewegliche Sachen verkauft unter Bedingungen</link:label>
    <link:label id="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsExistingBuildingsMember_label_de" xlink:label="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsExistingBuildingsMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Vorhandene verkaufte Wohneinheiten unter Bedingungen</link:label>
    <link:label id="bzk-ww-dm_SecuritiesNoncurrentMember_label_de" xlink:label="bzk-ww-dm_SecuritiesNoncurrentMember_label_de" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="de">Wertpapiere (langfristige)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_CompoundNonDAEBActivitiesMember_loc" xlink:to="bzk-ww-dm_CompoundNonDAEBActivitiesMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_DAEBActivitiesMember_loc" xlink:to="bzk-ww-dm_DAEBActivitiesMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_DAEBNonDAEBActivitiesCompoundMember_loc" xlink:to="bzk-ww-dm_DAEBNonDAEBActivitiesCompoundMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_DAEBNonDAEBActivitiesMember_loc" xlink:to="bzk-ww-dm_DAEBNonDAEBActivitiesMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsExistingBuildingsMember_loc" xlink:to="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsExistingBuildingsMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsNewBuildingsMember_loc" xlink:to="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsNewBuildingsMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_LandPositionsBalanceSheetMember_loc" xlink:to="bzk-ww-dm_LandPositionsBalanceSheetMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_LandPositionsConstructionMember_loc" xlink:to="bzk-ww-dm_LandPositionsConstructionMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_LandPositionsNoConstructionMember_loc" xlink:to="bzk-ww-dm_LandPositionsNoConstructionMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_LandPositionsOffBalanceSheetMember_loc" xlink:to="bzk-ww-dm_LandPositionsOffBalanceSheetMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_NonDAEBActivitiesMember_loc" xlink:to="bzk-ww-dm_NonDAEBActivitiesMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_PayablesGovernmentNoncurrentMember_loc" xlink:to="bzk-ww-dm_PayablesGovernmentNoncurrentMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_RealEstateInDevelopmentForOwnExploitationMember_loc" xlink:to="bzk-ww-dm_RealEstateInDevelopmentForOwnExploitationMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_RealEstateSoldSubjectTermsConditionsMember_loc" xlink:to="bzk-ww-dm_RealEstateSoldSubjectTermsConditionsMember_label_de" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bzk-ww-dm_SecuritiesNoncurrentMember_loc" xlink:to="bzk-ww-dm_SecuritiesNoncurrentMember_label_de" xlink:type="arc"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_CompoundNonDAEBActivitiesMember" xlink:label="bzk-ww-dm_CompoundNonDAEBActivitiesMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_DAEBActivitiesMember" xlink:label="bzk-ww-dm_DAEBActivitiesMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_DAEBNonDAEBActivitiesCompoundMember" xlink:label="bzk-ww-dm_DAEBNonDAEBActivitiesCompoundMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_DAEBNonDAEBActivitiesMember" xlink:label="bzk-ww-dm_DAEBNonDAEBActivitiesMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_HousingFacilitiesSoldUnderConditionsExistingBuildingsMember" xlink:label="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsExistingBuildingsMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_HousingFacilitiesSoldUnderConditionsNewBuildingsMember" xlink:label="bzk-ww-dm_HousingFacilitiesSoldUnderConditionsNewBuildingsMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_LandPositionsBalanceSheetMember" xlink:label="bzk-ww-dm_LandPositionsBalanceSheetMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_LandPositionsConstructionMember" xlink:label="bzk-ww-dm_LandPositionsConstructionMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_LandPositionsNoConstructionMember" xlink:label="bzk-ww-dm_LandPositionsNoConstructionMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_LandPositionsOffBalanceSheetMember" xlink:label="bzk-ww-dm_LandPositionsOffBalanceSheetMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_NonDAEBActivitiesMember" xlink:label="bzk-ww-dm_NonDAEBActivitiesMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_PayablesGovernmentNoncurrentMember" xlink:label="bzk-ww-dm_PayablesGovernmentNoncurrentMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_RealEstateInDevelopmentForOwnExploitationMember" xlink:label="bzk-ww-dm_RealEstateInDevelopmentForOwnExploitationMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_RealEstateSoldSubjectTermsConditionsMember" xlink:label="bzk-ww-dm_RealEstateSoldSubjectTermsConditionsMember_loc" xlink:type="locator"/>
    <link:loc xlink:href="bzk-ww-domains.xsd#bzk-ww-dm_SecuritiesNoncurrentMember" xlink:label="bzk-ww-dm_SecuritiesNoncurrentMember_loc" xlink:type="locator"/>
  </link:labelLink>
</link:linkbase>
